| Delaware Value® Fund | February 29, 2024 (Unaudited) |
| Number of shares | Value (US $) | ||
| Common Stocks — 96.87% | |||
| Communication Services — 5.70% | |||
| Verizon Communications | 2,613,533 | $ 104,593,591 | |
| Walt Disney | 1,091,282 | 121,765,245 | |
| 226,358,836 | |||
| Consumer Discretionary — 8.69% | |||
| Genuine Parts | 669,497 | 99,929,122 | |
| Lowe's | 484,200 | 116,532,414 | |
| TJX | 1,297,527 | 128,636,827 | |
| 345,098,363 | |||
| Consumer Staples — 8.82% | |||
| Conagra Brands | 3,724,420 | 104,581,714 | |
| Dollar General | 840,390 | 122,117,071 | |
| Dollar Tree † | 844,158 | 123,821,095 | |
| 350,519,880 | |||
| Energy — 3.09% | |||
| Exxon Mobil | 1,173,600 | 122,664,672 | |
| 122,664,672 | |||
| Financials — 18.04% | |||
| Allstate | 818,354 | 130,543,830 | |
| American International Group | 1,836,642 | 133,872,835 | |
| Fidelity National Information Services | 1,640,221 | 113,486,891 | |
| Travelers | 602,624 | 133,155,799 | |
| Truist Financial | 2,923,023 | 102,247,345 | |
| US Bancorp | 2,466,100 | 103,477,556 | |
| 716,784,256 | |||
| Healthcare — 18.44% | |||
| Baxter International | 2,868,200 | 117,366,744 | |
| Cigna Group | 365,324 | 122,800,009 | |
| CVS Health | 1,617,107 | 120,264,248 | |
| Hologic † | 1,538,959 | 113,575,174 | |
| Johnson & Johnson | 795,112 | 128,315,175 | |
| Merck & Co. | 1,023,342 | 130,117,935 | |
| 732,439,285 | |||
| Industrials — 9.66% | |||
| Dover | 664,875 | 109,957,027 | |
| Honeywell International | 664,696 | 132,095,036 | |
| Northrop Grumman | 269,232 | 124,121,337 | |
| RTX | 195,692 | 17,547,702 | |
| 383,721,102 | |||
| Number of shares | Value (US $) | ||
| Common Stocks (continued) | |||
| Information Technology — 15.54% | |||
| Cisco Systems | 2,600,374 | $ 125,780,091 | |
| Cognizant Technology Solutions Class A | 1,657,866 | 131,004,571 | |
| Motorola Solutions | 396,066 | 130,856,246 | |
| Oracle | 1,146,000 | 127,985,280 | |
| Teledyne Technologies † | 238,597 | 101,945,340 | |
| 617,571,528 | |||
| Materials — 3.14% | |||
| DuPont de Nemours | 1,805,891 | 124,949,598 | |
| 124,949,598 | |||
| Real Estate — 2.70% | |||
| Equity Residential | 1,781,750 | 107,279,167 | |
| 107,279,167 | |||
| Utilities — 3.05% | |||
| Duke Energy | 1,320,478 | 121,259,495 | |
| 121,259,495 | |||
| Total Common Stocks (cost $2,751,726,839) | 3,848,646,182 | ||
| Short-Term Investments — 2.94% | |||
| Money Market Mutual Funds — 2.94% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.20%) | 29,235,668 | 29,235,668 | |
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.20%) | 29,235,667 | 29,235,667 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.32%) | 29,235,667 | 29,235,667 | |
| Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.22%) | 29,235,668 | 29,235,668 | |
| Total Short-Term Investments (cost $116,942,670) | 116,942,670 | ||
| Total Value of Securities—99.81% (cost $2,868,669,509) | 3,965,588,852 | ||
| Receivables and Other Assets Net of Liabilities—0.19% | 7,399,694 | ||
| Net Assets Applicable to 229,799,887 Shares Outstanding—100.00% | $3,972,988,546 | ||
| † | Non-income producing security. |