NPORT-EX 2 AFL40_Del9.30.23.htm
Schedule of investments
Delaware VIP® Trust  —  Delaware VIP Opportunity Series
September 30, 2023 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 98.73%
Basic Materials — 8.22%
Beacon Roofing Supply †    11,797 $   910,374
Boise Cascade      8,997    927,051
Huntsman     40,392    985,565
Kaiser Aluminum      5,437    409,189
Minerals Technologies     12,591    689,483
Reliance Steel & Aluminum      3,716    974,447
Westrock     12,863    460,495
Worthington Industries      7,994    494,189
   5,850,793
Business Services — 5.08%
ABM Industries     11,098    444,031
Aramark     17,226    597,742
ASGN †     7,708    629,590
Casella Waste Systems Class A †     4,440    338,772
Clean Harbors †     3,762    629,608
WillScot Mobile Mini Holdings †    23,540    979,029
   3,618,772
Capital Goods — 11.49%
Ameresco Class A †     5,202    200,589
Barnes Group      4,677    158,878
Carlisle      2,505    649,446
Chart Industries †     1,764    298,328
Coherent †    10,686    348,791
Federal Signal      8,307    496,177
Gates Industrial †    17,842    207,146
Graco      6,922    504,475
Kadant      1,795    404,862
KBR     11,364    669,794
Lincoln Electric Holdings      4,276    777,334
MasTec †     6,600    475,002
Quanta Services      6,267  1,172,368
Tetra Tech      3,531    536,818
WESCO International      5,251    755,199
Zurn Elkay Water Solutions     18,768    525,879
   8,181,086
Consumer Discretionary — 4.62%
BJ's Wholesale Club Holdings †     7,740    552,404
Dick's Sporting Goods      6,807    739,104
Five Below †     5,038    810,614
Malibu Boats Class A †     9,638    472,455
Steven Madden     22,385    711,171
   3,285,748
Consumer Services — 2.22%
Brinker International †     9,232    291,639
Jack in the Box      3,677    253,934
Texas Roadhouse      5,743    551,902
Wendy's     23,826    486,289
   1,583,764
Consumer Staples — 3.53%
Casey's General Stores      3,348    909,049
Helen of Troy †     2,981    347,466
J & J Snack Foods      3,757     614,833
    Number of
shares 		Value (US $)
Common Stocks (continued)
Consumer Staples (continued)
YETI Holdings †    13,333 $   642,917
   2,514,265
Credit Cyclicals — 3.80%
BorgWarner     14,134    570,590
Dana     18,484    271,160
KB Home      7,267    336,317
La-Z-Boy     11,807    364,600
Phinia      2,826     75,708
Taylor Morrison Home †     8,448    359,969
Toll Brothers      9,807    725,326
   2,703,670
Energy — 5.45%
Chesapeake Energy     13,587  1,171,607
Liberty Energy    102,274  1,894,114
Southwestern Energy †   126,573    816,396
   3,882,117
Financial Services — 12.66%
Axis Capital Holdings     12,231    689,461
Columbia Banking System     28,784    584,315
East West Bancorp     16,009    843,834
Essent Group     13,750    650,238
Hamilton Lane Class A      6,401    578,906
Kemper     15,335    644,530
NMI Holdings Class A †     9,905    268,326
Primerica      5,165  1,002,062
Reinsurance Group of America      5,730    831,939
SouthState      8,006    539,284
Stifel Financial     13,622    836,936
Valley National Bancorp     47,872    409,784
Webster Financial     17,919    722,315
WSFS Financial     11,329    413,509
   9,015,439
Healthcare — 13.55%
Amicus Therapeutics †    31,328    380,948
Apellis Pharmaceuticals †     9,445    359,288
Azenta †     7,299    366,337
Bio-Techne      7,633    519,578
Blueprint Medicines †     7,151    359,123
Catalent †     8,102    368,884
Encompass Health      8,754    587,919
Exact Sciences †     6,439    439,269
Halozyme Therapeutics †    14,204    542,593
ICON  †     1,165    286,881
Insmed †    16,820    424,705
Inspire Medical Systems †     2,284    453,237
Intra-Cellular Therapies †     5,810    302,643
Lantheus Holdings †     5,033    349,693
Ligand Pharmaceuticals †     5,429    325,306
Natera †    10,265    454,226
Neurocrine Biosciences †     6,840    769,500
OmniAb †    19,996    103,779
OmniAb 12.5 =, †     1,789          0
OmniAb 15 =, †     1,789           0
NQ-FL4 [0923] 1123 (3217051)    1
Schedule of investments
Delaware VIP® Trust  —  Delaware VIP Opportunity Series 
    Number of
shares 		Value (US $)
Common Stocks (continued)
Healthcare (continued)
PTC Therapeutics †     5,671 $   127,087
QuidelOrtho †     3,878    283,249
Repligen †     3,448    548,266
Shockwave Medical †     2,647    527,018
Supernus Pharmaceuticals †    13,414    369,824
Travere Therapeutics †    16,599    148,395
Ultragenyx Pharmaceutical †     7,060    251,689
   9,649,437
Media — 1.90%
IMAX †    23,120    446,678
Interpublic Group     20,580    589,823
Nexstar Media Group      2,223    318,712
   1,355,213
Real Estate Investment Trusts — 5.95%
Brixmor Property Group     32,763    680,815
Camden Property Trust      5,661    535,417
DiamondRock Hospitality     28,770    231,023
EastGroup Properties      3,142    523,237
First Industrial Realty Trust     14,479    689,056
Kite Realty Group Trust     30,153    645,877
National Storage Affiliates Trust      9,967    316,353
Pebblebrook Hotel Trust     20,874    283,678
Physicians Realty Trust     26,906    327,984
   4,233,440
Technology — 14.92%
Box Class A †    10,934    264,712
DoubleVerify Holdings †    11,437    319,664
Dynatrace †    12,183    569,312
ExlService Holdings †    31,529    884,073
Guidewire Software †     5,986    538,740
MACOM Technology Solutions Holdings †     7,132    581,829
MaxLinear †    14,762    328,454
Paycom Software        463    120,042
Procore Technologies †     7,537    492,317
PTC †     8,152  1,154,975
Q2 Holdings †     9,841    317,569
Rapid7 †     5,976    273,581
Regal Rexnord      3,586    512,368
Semtech †    16,731    430,823
Silicon Laboratories †     3,029    351,031
Smartsheet Class A †    12,449    503,687
Sprout Social Class A †     5,204    259,576
SPS Commerce †     1,031    175,899
Tyler Technologies †       364    140,555
Varonis Systems †    15,554    475,019
WNS Holdings ADR †    10,212    699,113
Workiva †     3,499    354,589
Yelp †    12,288    511,058
Ziff Davis †     5,739    365,517
  10,624,503
    Number of
shares 		Value (US $)
Common Stocks (continued)
Transportation — 3.85%
Allegiant Travel      3,300 $   253,638
ArcBest      1,215    123,505
Kirby †     9,918    821,210
Knight-Swift Transportation Holdings     13,780    691,067
Saia †       314    125,176
Werner Enterprises     15,069    586,938
XPO †     1,875    139,987
   2,741,521
Utilities — 1.49%
Black Hills     10,429    527,603
Spire      9,403    532,022
   1,059,625
Total Common Stocks
(cost $62,636,988) 		70,299,393
 
Short-Term Investments — 1.32%
Money Market Mutual Funds — 1.32%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.24%)   235,569    235,569
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.23%)   235,573    235,573
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%)   235,573    235,573
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.27%)   235,573    235,573
Total Short-Term Investments
(cost $942,288) 		   942,288
Total Value of Securities—100.05%
(cost $63,579,276) 		    71,241,681
Liabilities Net of Receivables and Other Assets—(0.05%)        (39,059)
Net Assets Applicable to 4,609,545 Shares Outstanding—100.00%     $71,202,622
† Non-income producing security.
= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security.
Summary of abbreviations: 
ADR – American Depositary Receipt
 
2    NQ-FL4 [0923] 1123 (3217051)