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dgefv:SovereignBondsMember dgefv:C000240402Member 2024-05-31 0000809821 dgefv:C000240402Member dgefv:TJXMember 2024-05-31 0000809821 dgefv:USTreasuryObligationsMember dgefv:C000240402Member 2024-05-31 0000809821 dgefv:C000240402Member dgefv:VerizonCommunicationsMember 2024-05-31 0000809821 dgefv:C000171462Member oef:ConsumerDiscretionarySectorMember 2024-05-31 0000809821 dgefv:C000006376Member us-gaap:HealthcareSectorMember 2024-05-31 iso4217:USD iso4217:USD shares pure shares utr:D dgefv:Holding 0000809821 false This semi-annual shareholder report contains important information about Delaware Small Cap Core Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Core Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Core Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Wealth Builder Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Core Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Wealth Builder Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Value Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Value Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Core Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Value Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Wealth Builder Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Value Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Small Cap Value Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Wealth Builder Fund (Fund) for the period of December 1, 2023 to May 31, 2024. This semi-annual shareholder report contains important information about Delaware Wealth Builder Fund (Fund) for the period of December 1, 2023 to May 31, 2024. semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report DELAWARE GROUP EQUITY FUNDS V N-CSRS semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report 2024-05-31 Delaware Small Cap Core Fund Class A DCCAX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class A</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>57</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.07<span>%</span></td> </tr> </table> 57 0.0107 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>7,435,931,279<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>141<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>22,950,650<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>14<span>%</span></td> </tr> </table> 7435931279 141 22950650 0.14 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.71<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">14.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Capital Goods</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.07<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Materials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Business Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">4.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.1571 0.1553 0.1493 0.1107 0.0759 0.0682 0.0545 0.0428 0.0388 0.0353 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.0216 0.0180 0.0160 0.0154 0.0153 0.0152 0.0149 0.0145 0.0142 0.0140 Delaware Small Cap Core Fund Class C DCCCX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class C</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>96</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.82<span>%</span></td> </tr> </table> 96 0.0182 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>7,435,931,279<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>141<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>22,950,650<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>14<span>%</span></td> </tr> </table> 7435931279 141 22950650 0.14 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.71<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">14.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Capital Goods</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.07<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Materials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Business Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">4.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.1571 0.1553 0.1493 0.1107 0.0759 0.0682 0.0545 0.0428 0.0388 0.0353 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.0216 0.0180 0.0160 0.0154 0.0153 0.0152 0.0149 0.0145 0.0142 0.0140 Delaware Small Cap Core Fund Class R DCCRX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>70</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.32<span>%</span></td> </tr> </table> 70 0.0132 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>7,435,931,279<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>141<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>22,950,650<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>14<span>%</span></td> </tr> </table> 7435931279 141 22950650 0.14 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.71<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">14.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Capital Goods</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.07<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Materials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Business Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">4.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.1571 0.1553 0.1493 0.1107 0.0759 0.0682 0.0545 0.0428 0.0388 0.0353 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.0216 0.0180 0.0160 0.0154 0.0153 0.0152 0.0149 0.0145 0.0142 0.0140 Delaware Small Cap Core Fund Institutional Class DCCIX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Institutional Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>44</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.82<span>%</span></td> </tr> </table> 44 0.0082 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>7,435,931,279<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>141<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>22,950,650<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>14<span>%</span></td> </tr> </table> 7435931279 141 22950650 0.14 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.71<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">14.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Capital Goods</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.07<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Materials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Business Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">4.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.1571 0.1553 0.1493 0.1107 0.0759 0.0682 0.0545 0.0428 0.0388 0.0353 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.0216 0.0180 0.0160 0.0154 0.0153 0.0152 0.0149 0.0145 0.0142 0.0140 Delaware Small Cap Core Fund Class R6 DCZRX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R6</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>36</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.68<span>%</span></td> </tr> </table> 36 0.0068 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>7,435,931,279<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>141<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>22,950,650<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>14<span>%</span></td> </tr> </table> 7435931279 141 22950650 0.14 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.71<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">14.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Capital Goods</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.07<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Materials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Business Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">4.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.88<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.1571 0.1553 0.1493 0.1107 0.0759 0.0682 0.0545 0.0428 0.0388 0.0353 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Federal Signal </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.16<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Applied Industrial Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.80<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Permian Resources </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.60<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Steven Madden </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.54<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Q2 Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.53<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Minerals Technologies </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.52<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Boise Cascade </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.49<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Prestige Consumer Healthcare </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Patterson-UTI Energy </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.42<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Summit Materials Class A</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.40<span>%</span></td> </tr> </table> 0.0216 0.0180 0.0160 0.0154 0.0153 0.0152 0.0149 0.0145 0.0142 0.0140 Delaware Small Cap Value Fund Class A DEVLX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class A</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>61</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.13<span>%</span></td> </tr> </table> 61 0.0113 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>4,692,228,235<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>106<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>15,253,868<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>10<span>%</span></td> </tr> </table> 4692228235 106 15253868 0.10 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financial Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">24.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">17.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.40<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Industry</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">8.20<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Utilities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.37<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.48<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.2421 0.1733 0.1140 0.0970 0.0905 0.0820 0.0670 0.0378 0.0337 0.0266 0.0248 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.0183 0.0173 0.0166 0.0163 0.0159 0.0159 0.0157 0.0157 0.0156 0.0150 Delaware Small Cap Value Fund Class C DEVCX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class C</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>101</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.88<span>%</span></td> </tr> </table> 101 0.0188 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>4,692,228,235<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>106<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>15,253,868<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>10<span>%</span></td> </tr> </table> 4692228235 106 15253868 0.10 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financial Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">24.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">17.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.40<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Industry</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">8.20<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Utilities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.37<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.48<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.2421 0.1733 0.1140 0.0970 0.0905 0.0820 0.0670 0.0378 0.0337 0.0266 0.0248 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.0183 0.0173 0.0166 0.0163 0.0159 0.0159 0.0157 0.0157 0.0156 0.0150 Delaware Small Cap Value Fund Class R DVLRX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>75</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.38<span>%</span></td> </tr> </table> 75 0.0138 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>4,692,228,235<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>106<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>15,253,868<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>10<span>%</span></td> </tr> </table> 4692228235 106 15253868 0.10 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financial Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">24.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">17.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.40<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Industry</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">8.20<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Utilities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.37<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.48<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.2421 0.1733 0.1140 0.0970 0.0905 0.0820 0.0670 0.0378 0.0337 0.0266 0.0248 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.0183 0.0173 0.0166 0.0163 0.0159 0.0159 0.0157 0.0157 0.0156 0.0150 Delaware Small Cap Value Fund Institutional Class DEVIX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Institutional Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>48</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.88<span>%</span></td> </tr> </table> 48 0.0088 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>4,692,228,235<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>106<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>15,253,868<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>10<span>%</span></td> </tr> </table> 4692228235 106 15253868 0.10 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financial Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">24.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">17.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.40<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Industry</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">8.20<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Utilities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.37<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.48<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.2421 0.1733 0.1140 0.0970 0.0905 0.0820 0.0670 0.0378 0.0337 0.0266 0.0248 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.0183 0.0173 0.0166 0.0163 0.0159 0.0159 0.0157 0.0157 0.0156 0.0150 Delaware Small Cap Value Fund Class R6 DVZRX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R6</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>38</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.71<span>%</span></td> </tr> </table> 38 0.0071 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>4,692,228,235<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>106<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>15,253,868<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>10<span>%</span></td> </tr> </table> 4692228235 106 15253868 0.10 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Financial Services</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">24.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrials</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">17.33<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Discretionary</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">11.40<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Energy</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Technology</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.05<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Basic Industry</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">8.20<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Real Estate Investment Trusts</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">6.70<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Utilities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.37<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Consumer Staples</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.48<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="page-break-inside: avoid; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.2421 0.1733 0.1140 0.0970 0.0905 0.0820 0.0670 0.0378 0.0337 0.0266 0.0248 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Atkore </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.83<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">MasTec </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Stifel Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.66<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Hancock Whitney </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.63<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Webster Financial </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">East West Bancorp </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.59<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">ITT </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">FNB </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.57<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Axis Capital Holdings </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.56<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Meritage Homes </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.50<span>%</span></td> </tr> </table> 0.0183 0.0173 0.0166 0.0163 0.0159 0.0159 0.0157 0.0157 0.0156 0.0150 Delaware Wealth Builder Fund Class A DDIAX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class A</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>55</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.04<span>%</span></td> </tr> </table> 55 0.0104 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>888,990,075<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>807<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>2,579,760<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>32<span>%</span></td> </tr> </table> 888990075 807 2579760 0.32 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Portfolio composition</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Common Stocks</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">58.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Corporate Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">10.27<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Agency Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Treasury Obligations</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.85<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exchange-Traded Funds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Short-Term Investments</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.62<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Convertible Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Limited Liability Corporation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.14<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.5845 0.1027 0.0593 0.0585 0.0582 0.0362 0.0336 0.0130 0.0128 0.0114 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.0278 0.0273 0.0245 0.0121 0.0111 0.0103 0.0100 0.0091 0.0086 0.0077 Delaware Wealth Builder Fund Class C DDICX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class C</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>94</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.79<span>%</span></td> </tr> </table> 94 0.0179 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>888,990,075<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>807<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>2,579,760<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>32<span>%</span></td> </tr> </table> 888990075 807 2579760 0.32 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Portfolio composition</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Common Stocks</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">58.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Corporate Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">10.27<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Agency Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Treasury Obligations</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.85<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exchange-Traded Funds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Short-Term Investments</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.62<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Convertible Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Limited Liability Corporation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.14<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.5845 0.1027 0.0593 0.0585 0.0582 0.0362 0.0336 0.0130 0.0128 0.0114 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.0278 0.0273 0.0245 0.0121 0.0111 0.0103 0.0100 0.0091 0.0086 0.0077 Delaware Wealth Builder Fund Class R DDDRX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>68</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.29<span>%</span></td> </tr> </table> 68 0.0129 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>888,990,075<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>807<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>2,579,760<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>32<span>%</span></td> </tr> </table> 888990075 807 2579760 0.32 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Portfolio composition</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Common Stocks</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">58.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Corporate Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">10.27<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Agency Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Treasury Obligations</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.85<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exchange-Traded Funds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Short-Term Investments</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.62<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Convertible Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Limited Liability Corporation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.14<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.5845 0.1027 0.0593 0.0585 0.0582 0.0362 0.0336 0.0130 0.0128 0.0114 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.0278 0.0273 0.0245 0.0121 0.0111 0.0103 0.0100 0.0091 0.0086 0.0077 Delaware Wealth Builder Fund Institutional Class DDIIX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Institutional Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>42</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.79<span>%</span></td> </tr> </table> 42 0.0079 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>888,990,075<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>807<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>2,579,760<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>32<span>%</span></td> </tr> </table> 888990075 807 2579760 0.32 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Portfolio composition</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Common Stocks</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">58.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Corporate Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">10.27<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Agency Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Treasury Obligations</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.85<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exchange-Traded Funds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Short-Term Investments</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.62<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Convertible Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Limited Liability Corporation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.14<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.5845 0.1027 0.0593 0.0585 0.0582 0.0362 0.0336 0.0130 0.0128 0.0114 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.0278 0.0273 0.0245 0.0121 0.0111 0.0103 0.0100 0.0091 0.0086 0.0077 Delaware Wealth Builder Fund Class R6 DDERX You can find additional information about the Fund at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">delawarefunds.com/literature.</span> You can also request this information by contacting us at <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">800 523‑1918</span>, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523‑1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund expenses</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last six months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="page-break-inside:avoid;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="page-break-inside:avoid;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R6</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="width:12pt"> </span> <span style="float:none">$</span>38</td> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.72<span>%</span></td> </tr> </table> 38 0.0072 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of May 31, 2024)</div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;">The following table outlines Fund statistics that you should pay attention to:</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>888,990,075<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>807<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="float:none">$</span>2,579,760<span style="visibility:hidden;display:none">%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="page-break-inside: avoid; text-align: right; vertical-align: middle; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="width:12pt"> </span> <span style="visibility:hidden;display:none;float:none">$</span>32<span>%</span></td> </tr> </table> 888990075 807 2579760 0.32 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of May 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;font-kerning:none;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Portfolio composition</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Common Stocks</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">58.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Corporate Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">10.27<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Agency Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.93<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Treasury Obligations</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.85<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exchange-Traded Funds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.82<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Short-Term Investments</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.62<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Convertible Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.36<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Non-Agency Commercial Mortgage-Backed Securities</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.30<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign Bonds</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.28<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Limited Liability Corporation</td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.14<span>%</span></td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.5845 0.1027 0.0593 0.0585 0.0582 0.0362 0.0336 0.0130 0.0128 0.0114 <div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Top 10 equity holdings</div> <table style="width:100%;border-collapse:collapse;page-break-inside:avoid"> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Microsoft </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.78<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">NVIDIA </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.73<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Apple </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">2.45<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Exxon Mobil </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.21<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Merck &amp; Co. </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.11<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">TJX </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.03<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Verizon Communications </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">1.00<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Broadcom </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.91<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Cisco Systems </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.86<span>%</span></td> </tr> <tr style="page-break-inside:avoid;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="page-break-inside: avoid; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Chevron </td> <td style="page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.77<span>%</span></td> </tr> </table> 0.0278 0.0273 0.0245 0.0121 0.0111 0.0103 0.0100 0.0091 0.0086 0.0077