# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0000940400-26-022052
**Filing Date:** 2026-5
**Character Count:** 36864
**Document Hash:** 42e6ac6fad3e59d07350a7d8997b1cdb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022052.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-022052

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**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:** 261036746

**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

### Nomura Small Cap Growth Fund (Series ID: S000006286)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000017268 | Class R             | WSGRX           |
| C000017269 | Class A             | WSGAX           |
| C000017271 | Class C             | WRGCX           |
| C000017272 | Class Y             | WSCYX           |
| C000045543 | Institutional Class | IYSIX           |
| C000146679 | Class R6            | IRGFX           |

## 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:** Nomura Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000006286

- **c. LEI of Series:** E84UK33D68IU4QQ6WU59

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $986735016.86

**Total Liabilities:** $1994984.92

**Net Assets:** $984740031.94

**Cash Not Reported:** $5179.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146679 | 2.55%                | 3.30%                | -7.50%               |
| Class ID C000017269 | 2.46%                | 3.31%                | -7.53%               |
| Class ID C000017272 | 2.52%                | 3.26%                | -7.53%               |
| Class ID C000017271 | 2.43%                | 3.18%                | -7.58%               |
| Class ID C000017268 | 2.49%                | 3.24%                | -7.50%               |
| Class ID C000045543 | 2.49%                | 3.30%                | -7.53%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $29754763.12             | $-2025432.25                               |
| Month 2  | $18409349.57             | $16830072.98                               |
| Month 3  | $-3916368.61             | $-76471224.44                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Solaris Energy Infrastructure Inc            | Solaris Energy Infrastructure Inc COM CL A                  | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |    164274 | NS      | $9283123.74   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstcash Holdings Inc                       | Firstcash Holdings Inc COM                                  | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116026 | NS      | $21812888.00  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corporation                         | Repligen Corporation COM                                    | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     35901 | NS      | $4229855.82   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SILICON MOTION TECHNOLOGY CORP               | Silicon Motion Technology Corp. SPONSORED ADR               | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |    118538 | NS      | $13310632.02  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthequity Inc                             | Healthequity Inc COM                                        | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |    119832 | NS      | $10014360.24  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Willdan Group Inc.                           | Willdan Group Inc. COM                                      | CUSIP: 96924N100<br>LEI: 529900YQO0LF5VAEKN05 | Long             | EC               | CORP              | US        |     43005 | NS      | $3292462.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGENCE CORP                                 | Legence Corp. CL A                                          | CUSIP: 52476L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    193700 | NS      | $10936302.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp                | Adaptive Biotechnologies Corp COM                           | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |   1008596 | NS      | $13999312.48  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corporation Of Florida      | Seacoast Banking Corporation Of Florida COM NEW             | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    555615 | NS      | $16829578.35  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                       | Boot Barn Holdings Inc COM                                  | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     63152 | NS      | $9242926.72   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                          | Guardant Health Inc COM                                     | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    129464 | NS      | $11958589.68  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC      | MACOM Technology Solutions Holdings Inc. COM                | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77239 | NS      | $17152464.73  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BEL Fuse Inc                                 | BEL Fuse Inc CL B                                           | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |     34714 | NS      | $6872677.72   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Aaon Inc                                     | Aaon Inc COM PAR $0.004                                     | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |    111775 | NS      | $9249381.25   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                   | Tarsus Pharmaceuticals Inc COM                              | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    273131 | NS      | $19160139.65  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd.                    | OneSpaWorld Holdings Ltd. COM USD0.0001                     | CUSIP: 000000000<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |    550310 | NS      | $12629614.50  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KalVista Pharmaceuticals Inc.                | KalVista Pharmaceuticals Inc. COM                           | CUSIP: 483497103<br>LEI: 529900Q7IDA3WUGRZA51 | Long             | EC               | CORP              | US        |    353284 | NS      | $7111606.92   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs Warehouse Inc.                         | Chefs Warehouse Inc. COM                                    | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |    267881 | NS      | $15925525.45  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc                       | Paymentus Holdings Inc COM CL A                             | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    234260 | NS      | $5950204.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corporation                          | Vericel Corporation COM                                     | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |    385196 | NS      | $12391755.32  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                          | Goldman Sachs Financial Square Government Fund              | CUSIP: 38141W273<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   4184956 | NS      | $4184955.91   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.          | Ollies Bargain Outlet Holdings Inc. COM                     | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |    154719 | NS      | $14240336.76  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation                     | Bloom Energy Corporation COM CL A                           | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     26094 | NS      | $3535476.06   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                                 | Agilysys Inc COM                                            | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |    138295 | NS      | $9838306.30   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirum Pharmaceuticals Inc.                   | Mirum Pharmaceuticals Inc. COM                              | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |    277335 | NS      | $25620207.30  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp                   | Standex International Corp COM                              | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |     46559 | NS      | $11866026.74  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc.                       | Alphatec Holdings Inc. COM NEW                              | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |    878341 | NS      | $9556350.08   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust             | Fidelity Colchester Street Trust MNY MRKT FDS I             | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   4184956 | NS      | $4184955.83   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.                   | Construction Partners Inc. COM CL A                         | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |    141352 | NS      | $15707034.24  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SAILPOINT INC                                | SailPoint Inc. COM                                          | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    690841 | NS      | $9146734.84   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc.                | Catalyst Pharmaceuticals Inc. COM                           | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |    511838 | NS      | $12673108.88  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                        | Flowserve Corporation COM                                   | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |    161728 | NS      | $11888625.28  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA GROUP INC                               | CAVA Group Inc. COM                                         | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    224521 | NS      | $18163748.90  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                      | ATI Inc COM                                                 | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     75261 | NS      | $10947465.06  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                    | BlackRock Liquidity Funds FEDFUND INSTL                     | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   4184955 | NS      | $4184954.55   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX TECHNOLOGIES INC                         | SPX Technologies, Inc. COM                                  | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74370 | NS      | $14869537.80  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp.                                    | APA Corp. COM                                               | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    326050 | NS      | $13837562.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AVEPOINT INC                                 | AvePoint Inc. COM CL A                                      | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    502918 | NS      | $4782750.18   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc                     | Travere Therapeutics Inc COM                                | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    421116 | NS      | $12511356.36  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corporation                 | Encompass Health Corporation COM                            | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    197291 | NS      | $19083958.43  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                              | Shake Shack Inc CL A                                        | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |    117398 | NS      | $10386201.06  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                         | GeneDx Holdings Corp COM CL A                               | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    114022 | NS      | $7322492.84   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Funds GOVT PTF INSTL | CUSIP: 61747C707<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   4184956 | NS      | $4184955.94   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                             | Leonardo DRS Inc COM                                        | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |    316367 | NS      | $14084658.84  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings Inc                    | DigitalOcean Holdings Inc COM                               | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |    123237 | NS      | $10571269.86  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                     | Fabrinet SHS                                                | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      7318 | NS      | $3816483.36   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                                 | Artivion Inc COM                                            | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |    321317 | NS      | $11766628.54  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                             | InterDigital, Inc. COM                                      | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |     24085 | NS      | $7273670.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Synaptics Incorporated                       | Synaptics Incorporated COM                                  | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |    205709 | NS      | $14407858.36  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                      | Mirion Technologies Inc COM CL A                            | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    394623 | NS      | $7336041.57   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Skywest Inc                                  | Skywest Inc COM                                             | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     36677 | NS      | $3368048.91   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc                           | Axos Financial Inc COM                                      | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     95068 | NS      | $8089336.12   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc.                      | Patrick Industries Inc. COM                                 | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |     82312 | NS      | $9142393.84   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                                  | Xometry Inc CLASS A COM                                     | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |    191898 | NS      | $7837114.32   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                                  | Rambus Inc. COM                                             | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     52548 | NS      | $4520704.44   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc.                 | Descartes Systems Group Inc. COM                            | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     80684 | NS      | $5773747.04   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc.                  | Huron Consulting Group Inc. COM                             | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |     83212 | NS      | $10608697.88  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Phathom Pharmaceuticals Inc                  | Phathom Pharmaceuticals Inc COM                             | CUSIP: 71722W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    819324 | NS      | $9102689.64   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMUS FILTRATION TECHNOLOGIES INC            | Atmus Filtration Technologies Inc. COM                      | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    193569 | NS      | $10988912.13  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| YORK SPACE SYSTEMS INC                       | York Space Systems Inc. COM                                 | CUSIP: 987084100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    231387 | NS      | $5129849.79   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc.                     | Axsome Therapeutics Inc. COM                                | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     85681 | NS      | $14481802.62  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.              | Affiliated Managers Group, Inc. COM                         | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     18264 | NS      | $5053648.80   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                                 | Phreesia Inc COM                                            | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |    534581 | NS      | $4479788.78   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                          | AeroVironment, Inc. COM                                     | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     24561 | NS      | $4495891.05   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORP                      | Magnolia Oil & Gas Corporation CL A                         | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    201531 | NS      | $6362333.67   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                       | TransMedics Group Inc. COM                                  | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     57598 | NS      | $5725817.18   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIFE RIVER CORP                             | Knife River Corp. COMMON STOCK                              | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    130835 | NS      | $10682677.75  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Pricesmart Inc                               | Pricesmart Inc COM                                          | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |    134991 | NS      | $20316145.50  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                       | Lumentum Holdings Inc. COM                                  | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      7883 | NS      | $5539857.08   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd COM USD0.01                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     49251 | NS      | $12066495.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI System Inc.                              | OSI System Inc. COM                                         | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |    110285 | NS      | $29281770.35  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries, Inc.             | Advanced Energy Industries, Inc. COM                        | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     96104 | NS      | $31013721.84  | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp.                | American Superconductor Corp. SHS NEW                       | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |    259087 | NS      | $8770094.95   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                          | Houlihan Lokey Inc. CL A                                    | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     69168 | NS      | $9933908.16   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc.                         | Dorman Products Inc. COM                                    | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |     75239 | NS      | $7851942.04   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                     | Modine Manufacturing Co. COM                                | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     59324 | NS      | $12856104.04  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc.                     | ANI Pharmaceuticals Inc. COM                                | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |    196758 | NS      | $15130690.20  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubrik Inc.                                  | Rubrik Inc. CL A                                            | CUSIP: 781154109<br>LEI: 254900TRGK2WTBYMYU27 | Long             | EC               | CORP              | US        |    125314 | NS      | $6136626.58   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                         | Federal Signal Corp. COM                                    | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     41325 | NS      | $4468885.50   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| KULICKE AND SOFFA INDUSTRIES INC             | Kulicke and Soffa Industries, Inc. COM                      | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     85732 | NS      | $5634307.04   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                              | Q2 Holdings Inc COM                                         | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |    157862 | NS      | $7466872.60   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                            | Loar Holdings Inc COM SHS                                   | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92377 | NS      | $5292278.33   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree, Inc.                             | WisdomTree, Inc. COM                                        | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |   1114925 | NS      | $16233308.00  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.                     | Group 1 Automotive, Inc. COM                                | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     26058 | NS      | $8615556.54   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp.                                    | AAR Corp. COM                                               | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |    180880 | NS      | $19799124.80  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc.                                     | MKS Inc. COM                                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     78351 | NS      | $18005843.31  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                          | Mercury Systems Inc COM                                     | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     82614 | NS      | $6023386.74   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc.               | Everus Construction Group Inc. COM                          | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |    202840 | NS      | $23947290.40  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions, Inc.    | Kratos Defense & Security Solutions, Inc. COM NEW           | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     54159 | NS      | $3818751.09   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICETITAN INC                             | ServiceTitan Inc. SHS CL A                                  | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63448 | NS      | $4026410.08   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                             | IMAX Corporation COM                                        | CUSIP: 45245E109<br>LEI: 894500GS1ESLAPZCEI74 | Long             | EC               | CORP              | CA        |    648961 | NS      | $24667007.61  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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