# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0001752724-25-207346
**Filing Date:** 2025-8
**Character Count:** 40605
**Document Hash:** a16513a37d6f0753a08b7e9de2fe41f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207346.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207346

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622

**ORGANIZATION NAME:**
- **EIN:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 251261405

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717

## Series and Classes Contracts Data

### Macquarie International Core Equity Fund (Series ID: S000024840)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000073956 | Class Y             | IVVYX           |
| C000073958 | Class C             | IVIFX           |
| C000073960 | Institutional Class | ICEIX           |
| C000073961 | Class A             | IVIAX           |
| C000122166 | Class R             | IYITX           |
| C000146700 | Class R6            | IINCX           |

## Nport-Ex

## Schedule of investments
Macquarie International Core Equity Fund

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 95.38%Δ** | &nbsp;&nbsp;**Common Stocks — 95.38%Δ** | &nbsp;&nbsp;**Common Stocks — 95.38%Δ** |
| &nbsp;&nbsp;Austria — 1.73% | &nbsp;&nbsp;Austria — 1.73% | &nbsp;&nbsp;Austria — 1.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mondi | 1686801 | $27541533 |
|  |  | &nbsp;&nbsp; 27541533 |
| &nbsp;&nbsp;Brazil — 4.59% | &nbsp;&nbsp;Brazil — 4.59% | &nbsp;&nbsp;Brazil — 4.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco do Brasil | 2707888 | &nbsp;&nbsp; 11049654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17892 | &nbsp;&nbsp; 46763068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vale ADR | 1579310 | &nbsp;&nbsp; 15335100 |
|  |  | &nbsp;&nbsp; 73147822 |
| &nbsp;&nbsp;Canada — 1.45% | &nbsp;&nbsp;Canada — 1.45% | &nbsp;&nbsp;Canada — 1.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Descartes Systems Group † | &nbsp;&nbsp;&nbsp;&nbsp;227900 | &nbsp;&nbsp; 23150657 |
|  |  | &nbsp;&nbsp; 23150657 |
| &nbsp;&nbsp;China — 5.84% | &nbsp;&nbsp;China — 5.84% | &nbsp;&nbsp;China — 5.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Merchants Bank Class H | 3667000 | &nbsp;&nbsp; 25622450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eastroc Beverage Group Class A | &nbsp;&nbsp;&nbsp;&nbsp;560593 | &nbsp;&nbsp; 24569707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midea Group Class A | 2043394 | &nbsp;&nbsp; 20589358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings | &nbsp;&nbsp;&nbsp;&nbsp;348600 | &nbsp;&nbsp; 22337187 |
|  |  | &nbsp;&nbsp; 93118702 |
| &nbsp;&nbsp;Denmark — 1.59% | &nbsp;&nbsp;Denmark — 1.59% | &nbsp;&nbsp;Denmark — 1.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascendis Pharma ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69023 | &nbsp;&nbsp; 11913370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk Class B | &nbsp;&nbsp;&nbsp;&nbsp;192466 | &nbsp;&nbsp; 13358287 |
|  |  | &nbsp;&nbsp; 25271657 |
| &nbsp;&nbsp;France — 4.41% | &nbsp;&nbsp;France — 4.41% | &nbsp;&nbsp;France — 4.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airbus | &nbsp;&nbsp;&nbsp;&nbsp;168825 | &nbsp;&nbsp; 35251237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hermes International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3115 | &nbsp;&nbsp; 8435753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L'Oreal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36683 | &nbsp;&nbsp; 15689820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vinci | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74187 | &nbsp;&nbsp; 10932311 |
|  |  | &nbsp;&nbsp; 70309121 |
| &nbsp;&nbsp;Germany — 13.18% | &nbsp;&nbsp;Germany — 13.18% | &nbsp;&nbsp;Germany — 13.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioNTech ADR † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87769 | &nbsp;&nbsp; 9344765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Telekom | 1273481 | &nbsp;&nbsp; 46458002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Heidelberg Materials | &nbsp;&nbsp;&nbsp;&nbsp;176689 | &nbsp;&nbsp; 41511690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KION Group | &nbsp;&nbsp;&nbsp;&nbsp;434276 | &nbsp;&nbsp; 24165878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAP | &nbsp;&nbsp;&nbsp;&nbsp;124628 | &nbsp;&nbsp; 37897853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Siemens | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92873 | &nbsp;&nbsp; 23810856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Siemens Healthineers 144A # | &nbsp;&nbsp;&nbsp;&nbsp;482303 | &nbsp;&nbsp; 26736142 |
|  |  | &nbsp;&nbsp; 209925186 |
| &nbsp;&nbsp;Hong Kong — 1.59% | &nbsp;&nbsp;Hong Kong — 1.59% | &nbsp;&nbsp;Hong Kong — 1.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prudential | 2017033 | &nbsp;&nbsp; 25266977 |
|  |  | &nbsp;&nbsp; 25266977 |
| &nbsp;&nbsp;India — 6.29% | &nbsp;&nbsp;India — 6.29% | &nbsp;&nbsp;India — 6.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axis Bank | 2009068 | &nbsp;&nbsp; 28093218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bharti Airtel | 1322721 | &nbsp;&nbsp; 30995104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HDFC Bank | 1191996 | &nbsp;&nbsp; 27819263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NTPC | 3426846 | &nbsp;&nbsp; 13382121 |
|  |  | &nbsp;&nbsp; 100289706 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;Ireland — 2.87% | &nbsp;&nbsp;Ireland — 2.87% | &nbsp;&nbsp;Ireland — 2.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Experian | &nbsp;&nbsp;&nbsp;&nbsp;615133 | $31680474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICON † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96566 | &nbsp;&nbsp; 14045525 |
|  |  | &nbsp;&nbsp; 45725999 |
| &nbsp;&nbsp;Japan — 14.10% | &nbsp;&nbsp;Japan — 14.10% | &nbsp;&nbsp;Japan — 14.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Makita | 1003700 | &nbsp;&nbsp; 31036951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marubeni | 1351500 | &nbsp;&nbsp; 27338769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group | 2464100 | &nbsp;&nbsp; 33931532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nintendo | &nbsp;&nbsp;&nbsp;&nbsp;350300 | &nbsp;&nbsp; 33763855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Renesas Electronics | 2432200 | &nbsp;&nbsp; 30215658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seven & i Holdings | 1103800 | &nbsp;&nbsp; 17805822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shin-Etsu Chemical | &nbsp;&nbsp;&nbsp;&nbsp;483700 | &nbsp;&nbsp; 16028724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tokio Marine Holdings | &nbsp;&nbsp;&nbsp;&nbsp;380153 | &nbsp;&nbsp; 16132183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tokyo Electron | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95300 | &nbsp;&nbsp; 18318142 |
|  |  | &nbsp;&nbsp; 224571636 |
| &nbsp;&nbsp;Netherlands — 6.60% | &nbsp;&nbsp;Netherlands — 6.60% | &nbsp;&nbsp;Netherlands — 6.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adyen 144A #, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18054 | &nbsp;&nbsp; 33142040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20475 | &nbsp;&nbsp; 16342713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ING Groep | 1724408 | &nbsp;&nbsp; 37834368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shell | &nbsp;&nbsp;&nbsp;&nbsp;504673 | &nbsp;&nbsp; 17828442 |
|  |  | &nbsp;&nbsp; 105147563 |
| &nbsp;&nbsp;Norway — 0.97% | &nbsp;&nbsp;Norway — 0.97% | &nbsp;&nbsp;Norway — 0.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orkla | 1422315 | &nbsp;&nbsp; 15465774 |
|  |  | &nbsp;&nbsp; 15465774 |
| &nbsp;&nbsp;Singapore — 3.58% | &nbsp;&nbsp;Singapore — 3.58% | &nbsp;&nbsp;Singapore — 3.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grab Holdings Class A † | 4601630 | &nbsp;&nbsp; 23146199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sea ADR † | &nbsp;&nbsp;&nbsp;&nbsp;211691 | &nbsp;&nbsp; 33857859 |
|  |  | &nbsp;&nbsp; 57004058 |
| &nbsp;&nbsp;South Korea — 3.84% | &nbsp;&nbsp;South Korea — 3.84% | &nbsp;&nbsp;South Korea — 3.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KB Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;192143 | &nbsp;&nbsp; 15788870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SK Hynix | &nbsp;&nbsp;&nbsp;&nbsp;209599 | &nbsp;&nbsp; 45348924 |
|  |  | &nbsp;&nbsp; 61137794 |
| &nbsp;&nbsp;Spain — 1.79% | &nbsp;&nbsp;Spain — 1.79% | &nbsp;&nbsp;Spain — 1.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria | 1851780 | &nbsp;&nbsp; 28476927 |
|  |  | &nbsp;&nbsp; 28476927 |
| &nbsp;&nbsp;Switzerland — 3.20% | &nbsp;&nbsp;Switzerland — 3.20% | &nbsp;&nbsp;Switzerland — 3.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alcon | &nbsp;&nbsp;&nbsp;&nbsp;396948 | &nbsp;&nbsp; 35042569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cie Financiere Richemont Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84702 | &nbsp;&nbsp; 15954016 |
|  |  | &nbsp;&nbsp; 50996585 |
| &nbsp;&nbsp;Taiwan — 4.47% | &nbsp;&nbsp;Taiwan — 4.47% | &nbsp;&nbsp;Taiwan — 4.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing | 1961000 | &nbsp;&nbsp; 71157743 |
|  |  | &nbsp;&nbsp; 71157743 |
| &nbsp;&nbsp;United Kingdom — 10.53% | &nbsp;&nbsp;United Kingdom — 10.53% | &nbsp;&nbsp;United Kingdom — 10.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AstraZeneca ADR | &nbsp;&nbsp;&nbsp;&nbsp;240790 | &nbsp;&nbsp; 16826405 |

---

NQ- IV961 [0625] 0825 (4730784) 1

------

Macquarie International Core Equity Fund

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** | &nbsp;&nbsp;**Common StocksΔ (continued)** |
| &nbsp;&nbsp;United Kingdom (continued) | &nbsp;&nbsp;United Kingdom (continued) | &nbsp;&nbsp;United Kingdom (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BAE Systems | 1107317 | $28674021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compass Group | &nbsp;&nbsp;&nbsp;&nbsp;775985 | &nbsp;&nbsp; 26277394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diageo | &nbsp;&nbsp;&nbsp;&nbsp;801910 | &nbsp;&nbsp; 20121559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flutter Entertainment † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96914 | &nbsp;&nbsp; 27694145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haleon | 5826600 | &nbsp;&nbsp; 29944072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Melrose Industries | 2511993 | &nbsp;&nbsp; 18302447 |
|  |  | &nbsp;&nbsp; 167840043 |
| &nbsp;&nbsp;United States — 2.76% | &nbsp;&nbsp;United States — 2.76% | &nbsp;&nbsp;United States — 2.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freshworks Class A † | 1284843 | &nbsp;&nbsp; 19157009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lululemon Athletica † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53810 | &nbsp;&nbsp; 12784180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;204442 | &nbsp;&nbsp; 6910140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6757 | &nbsp;&nbsp; 5184916 |
|  |  | &nbsp;&nbsp; 44036245 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,133,484,942)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $1,133,484,942)** | &nbsp;&nbsp;**1519581728** |
| &nbsp;&nbsp;**Short-Term Investments — 3.63%** | &nbsp;&nbsp;**Short-Term Investments — 3.63%** | &nbsp;&nbsp;**Short-Term Investments — 3.63%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 3.63% | &nbsp;&nbsp;Money Market Mutual Funds — 3.63% | &nbsp;&nbsp;Money Market Mutual Funds — 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.22%) | 14444212 | &nbsp;&nbsp; 14444212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 14444212 | &nbsp;&nbsp; 14444212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.30%) | 14444212 | &nbsp;&nbsp; 14444212 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.23%) | 14444212 | $14444212 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $57,776,848)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $57,776,848)** | &nbsp;&nbsp; **57776848** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.01%<br> (cost $1,191,261,790)** |  | &nbsp;&nbsp;**1577358576** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities — 0.99%** |  | &nbsp;&nbsp; **15746606** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 64,172,576 Shares Outstanding — 100.00%** | **$1593105182** |

---

---

| |
|:---|
| Securities have been classified by country of risk. |
| Non-income producing security. |
| Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At June 30, 2025, the aggregate value of Rule 144A securities was $59,878,182, which represents 3.76% of the Fund's net assets. |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |

---

2 NQ- IV961 [0625] 0825 (4730784)

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** IVY FUNDS

- **b. Investment Company Act file number:** 811-06569

- **c. CIK number of Registrant:** 0000883622

- **d. LEI of Registrant:** UJ5MWG3K37CY01MVRY13

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

**Item A.2. Information about the Series.**

- **a. Name of Series:** Macquarie International Core Equity Fund

- **b. EDGAR series identifier (if any):** S000024840

- **c. LEI of Series:** 08BZIW7S4NU6VLSVN005

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1599834418.45

**Total Liabilities:** $7354291.96

**Net Assets:** $1592480126.49

**Cash Not Reported:** $9580389.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146700 | 3.21%                | 5.51%                | 3.86%                |
| Class ID C000073960 | 3.22%                | 5.45%                | 3.87%                |
| Class ID C000122166 | 3.16%                | 5.41%                | 3.83%                |
| Class ID C000073958 | 3.11%                | 5.37%                | 3.79%                |
| Class ID C000073961 | 3.16%                | 5.46%                | 3.83%                |
| Class ID C000073956 | 3.18%                | 5.46%                | 3.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5178635.98              | $35558445.10                               |
| Month 2  | $24614950.03             | $55258717.44                               |
| Month 3  | $2183218.38              | $56050656.92                               |

### Schedule of Portfolio Investments

| Name                                           | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Makita Corp                                    | Makita Corp                                    | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |   1003700 | NS      | $31036950.80  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                | AstraZeneca PLC                                | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    240790 | NS      | $16826405.20  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                               | Novo Nordisk A/S                               | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    192466 | NS      | $13358287.52  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                            | Ascendis Pharma A/S                            | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |     69023 | NS      | $11913369.80  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Experian PLC                                   | Experian PLC                                   | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |    615133 | NS      | $31680473.96  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | Siemens AG                                     | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     92873 | NS      | $23810855.66  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |  14444212 | NS      | $14444211.95  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                       | ICON PLC                                       | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     96566 | NS      | $14045524.70  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Orkla ASA                                      | Orkla ASA                                      | CUSIP: 000000000<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |   1422315 | NS      | $15465774.15  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                      | Shin-Etsu Chemical Co Ltd                      | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |    483700 | NS      | $16028724.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Melrose Industries PLC                         | Melrose Industries PLC                         | CUSIP: 000000000<br>LEI: 213800RGNXXZY2M7TR85 | Long             | EC               | CORP              | GB        |   2511993 | NS      | $18302446.81  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group                 | Mitsubishi UFJ Financial Group Inc             | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |   2464100 | NS      | $33931532.24  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastroc Beverage Group Co Ltd                  | Eastroc Beverage Group Co Ltd                  | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |    560593 | NS      | $24569706.46  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                              | Bharti Airtel Ltd                              | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |   1322721 | NS      | $30995104.03  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc                      | Tokio Marine Holdings Inc                      | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |    380153 | NS      | $16132182.79  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc/Th                 | Descartes Systems Group Inc/The                | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |    227900 | NS      | $23150656.88  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC                      | Flutter Entertainment PLC                      | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | US        |     96914 | NS      | $27694144.64  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co Ltd                    | China Merchants Bank Co Ltd                    | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |   3667000 | NS      | $25622449.82  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Bank Ltd                                  | Axis Bank Ltd                                  | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |   2009068 | NS      | $28093217.65  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco do Brasil SA                             | Banco do Brasil SA                             | CUSIP: 000000000<br>LEI: QE0Q0253K88YAGNPE356 | Long             | EC               | CORP              | BR        |   2707888 | NS      | $11049654.33  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondi PLC                                      | Mondi PLC                                      | CUSIP: 000000000<br>LEI: 213800LOZA69QFDC9N34 | Long             | EC               | CORP              | GB        |   1686801 | NS      | $27541533.04  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |  14444212 | NS      | $14444211.95  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshworks Inc                                 | Freshworks Inc                                 | CUSIP: 358054104<br>LEI: 254900ULRGCUEIK0K191 | Long             | EC               | CORP              | US        |   1284843 | NS      | $19157009.13  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd                             | Midea Group Co Ltd                             | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |   2043394 | NS      | $20589358.29  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Healthineers AG                        | Siemens Healthineers AG                        | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |    482303 | NS      | $26736142.22  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                     | L'Oreal SA                                     | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |     36683 | NS      | $15689819.64  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corp                                  | Marubeni Corp                                  | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |   1351500 | NS      | $27338769.49  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                    | Cie Financiere Richemont SA                    | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     84702 | NS      | $15954015.88  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                                   | SK Hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |    209599 | NS      | $45348924.13  | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                           | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   1961000 | NS      | $71157743.39  | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                        | Sea Ltd                                        | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |    211691 | NS      | $33857858.54  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Grab Holdings Ltd                              | Grab Holdings Ltd                              | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | SG        |   4601630 | NS      | $23146198.90  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                       | Vinci SA                                       | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     74187 | NS      | $10932310.94  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                      | Shell PLC                                      | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    504673 | NS      | $17828442.01  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                                     | Haleon PLC                                     | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |   5826600 | NS      | $29944072.04  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                                    | BioNTech SE                                    | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |     87769 | NS      | $9344765.43   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| KION Group AG                                  | KION Group AG                                  | CUSIP: 000000000<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |    434276 | NS      | $24165877.77  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                              | Compass Group PLC                              | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    775985 | NS      | $26277393.84  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                                       | Adyen NV                                       | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     18054 | NS      | $33142039.77  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                   | ING Groep NV                                   | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |   1724408 | NS      | $37834368.03  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                     | Diageo PLC                                     | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |    801910 | NS      | $20121559.40  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  14444212 | NS      | $14444211.84  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                           | Tencent Holdings Ltd                           | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |    348600 | NS      | $22337186.86  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  14444212 | NS      | $14444211.95  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                | BAE Systems PLC                                | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |   1107317 | NS      | $28674020.50  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                       | Alcon AG                                       | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |    396948 | NS      | $35042569.44  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                        | Vale SA                                        | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |   1579310 | NS      | $15335100.10  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                  | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   1191996 | NS      | $27819262.99  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                            | Deutsche Telekom AG                            | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |   1273481 | NS      | $46458002.35  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NTPC Ltd                                       | NTPC Ltd                                       | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | EC               | CORP              | IN        |   3426846 | NS      | $13382121.33  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                      | Airbus SE                                      | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |    168825 | NS      | $35251236.88  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |     17892 | NS      | $46763067.96  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidelberg Materials AG                        | Heidelberg Materials AG                        | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |    176689 | NS      | $41511689.57  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc                         | KB Financial Group Inc                         | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |    192143 | NS      | $15788869.81  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                                 | Prudential PLC                                 | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | HK        |   2017033 | NS      | $25266976.85  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd                             | Tokyo Electron Ltd                             | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |     95300 | NS      | $18318141.73  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                          | Spotify Technology SA                          | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      6757 | NS      | $5184916.38   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp                       | Renesas Electronics Corp                       | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |   2432200 | NS      | $30215657.79  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                         | SAP SE                                         | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |    124628 | NS      | $37897853.40  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     20475 | NS      | $16342713.39  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Seven & i Holdings Co Ltd                      | Seven & i Holdings Co Ltd                      | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |   1103800 | NS      | $17805822.02  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc                        | Lululemon Athletica Inc                        | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |     53810 | NS      | $12784179.80  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International SCA                       | Hermes International SCA                       | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |      3115 | NS      | $8435753.46   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                                | Nintendo Co Ltd                                | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    350300 | NS      | $33763855.42  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BBVA                                           | Banco Bilbao Vizcaya Argentaria SA             | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |   1851780 | NS      | $28476927.00  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                                | Schlumberger NV                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    204442 | NS      | $6910139.60   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration