# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0001752724-23-043259
**Filing Date:** 2023-2
**Character Count:** 31291
**Document Hash:** f9722daa64a8b56458cd87635796fe81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043259.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043259

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622
- **IRS NUMBER:** 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:** 23674378

**BUSINESS ADDRESS:**
- **STREET 1:** 6300 LAMAR AVE
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66202
- **BUSINESS PHONE:** 9132362000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 29217
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66201-9217

**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

### Delaware Ivy Core Equity Fund (Series ID: S000006288)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017277 | Class A      | WCEAX           |
| C000017279 | Class C      | WTRCX           |
| C000017280 | Class Y      | WCEYX           |
| C000045545 | Class I      | ICIEX           |
| C000122149 | Class R      | IYCEX           |
| C000146680 | Class R6     | ICEQX           |

## Nport-Ex

## Schedule of investments
Delaware Ivy Core Equity Fund

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 97.91%** | &nbsp;&nbsp;**Common Stocks — 97.91%** | &nbsp;&nbsp;**Common Stocks — 97.91%** |
| &nbsp;&nbsp;Communication Services — 4.87% | &nbsp;&nbsp;Communication Services — 4.87% | &nbsp;&nbsp;Communication Services — 4.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A † | 1225386 | $108115807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software † | &nbsp;&nbsp;&nbsp;&nbsp;533684 | &nbsp;&nbsp; 55572515 |
|  |  | &nbsp;&nbsp; 163688322 |
| &nbsp;&nbsp;Consumer Discretionary — 6.40% | &nbsp;&nbsp;Consumer Discretionary — 6.40% | &nbsp;&nbsp;Consumer Discretionary — 6.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | &nbsp;&nbsp;&nbsp;&nbsp;716935 | &nbsp;&nbsp; 60222540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aptiv \*, † | &nbsp;&nbsp;&nbsp;&nbsp;772087 | &nbsp;&nbsp; 71904462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AutoZone † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33687 | &nbsp;&nbsp; 83078206 |
|  |  | &nbsp;&nbsp; 215205208 |
| &nbsp;&nbsp;Consumer Staples — 4.23% | &nbsp;&nbsp;Consumer Staples — 4.23% | &nbsp;&nbsp;Consumer Staples — 4.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;126467 | &nbsp;&nbsp; 57732186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco | 1107370 | &nbsp;&nbsp; 84658436 |
|  |  | &nbsp;&nbsp; 142390622 |
| &nbsp;&nbsp;Energy — 3.83% | &nbsp;&nbsp;Energy — 3.83% | &nbsp;&nbsp;Energy — 3.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;720300 | &nbsp;&nbsp; 84995400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;818598 | &nbsp;&nbsp; 43762249 |
|  |  | &nbsp;&nbsp; 128757649 |
| &nbsp;&nbsp;Financials — 18.40% | &nbsp;&nbsp;Financials — 18.40% | &nbsp;&nbsp;Financials — 18.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;&nbsp;289181 | &nbsp;&nbsp; 42726493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon Class A | &nbsp;&nbsp;&nbsp;&nbsp;168138 | &nbsp;&nbsp; 50464939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Artisan Partners Asset Management Class A | 1278453 | &nbsp;&nbsp; 37970054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America | 1169535 | &nbsp;&nbsp; 38734999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone \* | &nbsp;&nbsp;&nbsp;&nbsp;657562 | &nbsp;&nbsp; 48784525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab | &nbsp;&nbsp;&nbsp;&nbsp;885417 | &nbsp;&nbsp; 73719819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CME Group | &nbsp;&nbsp;&nbsp;&nbsp;209108 | &nbsp;&nbsp; 35163601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discover Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;137485 | &nbsp;&nbsp; 13450158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange | &nbsp;&nbsp;&nbsp;&nbsp;317147 | &nbsp;&nbsp;&nbsp; 32536111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR & Co. | 1324358 | &nbsp;&nbsp; 61476698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;964567 | &nbsp;&nbsp; 82007486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progressive | &nbsp;&nbsp;&nbsp;&nbsp;784022 | &nbsp;&nbsp; 101695494 |
|  |  | &nbsp;&nbsp; 618730377 |
| &nbsp;&nbsp;Healthcare — 15.57% | &nbsp;&nbsp;Healthcare — 15.57% | &nbsp;&nbsp;Healthcare — 15.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher | &nbsp;&nbsp;&nbsp;&nbsp;316900 | &nbsp;&nbsp;&nbsp; 84111598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;117293 | &nbsp;&nbsp; 42910471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;369331 | &nbsp;&nbsp; 88624667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | &nbsp;&nbsp;&nbsp;&nbsp;363924 | &nbsp;&nbsp; 192945226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;156472 | &nbsp;&nbsp; 45185984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis | &nbsp;&nbsp;&nbsp;&nbsp;476397 | &nbsp;&nbsp; 69815981 |
|  |  | &nbsp;&nbsp; 523593927 |
| &nbsp;&nbsp;Industrials — 12.84% | &nbsp;&nbsp;Industrials — 12.84% | &nbsp;&nbsp;Industrials — 12.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airbus ADR \* | 2789607 | &nbsp;&nbsp; 82739744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;175042 | &nbsp;&nbsp; 75051008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equifax \* | &nbsp;&nbsp;&nbsp;&nbsp;341758 | &nbsp;&nbsp; 66424085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raytheon Technologies | &nbsp;&nbsp;&nbsp;&nbsp;447969 | &nbsp;&nbsp; 45209031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific | &nbsp;&nbsp;&nbsp;&nbsp;240094 | &nbsp;&nbsp; 49716265 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) | &nbsp;&nbsp;Industrials (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals † | &nbsp;&nbsp;&nbsp;&nbsp;317406 | $112812440 |
|  |  | &nbsp;&nbsp; 431952573 |
| &nbsp;&nbsp;Information Technology — 23.61% | &nbsp;&nbsp;Information Technology — 23.61% | &nbsp;&nbsp;Information Technology — 23.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple | &nbsp;&nbsp;&nbsp;&nbsp;748963 | &nbsp;&nbsp; 97312763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials | &nbsp;&nbsp;&nbsp;&nbsp;613930 | &nbsp;&nbsp; 59784503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit | &nbsp;&nbsp;&nbsp;&nbsp;145177 | &nbsp;&nbsp; 56505792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard Class A | &nbsp;&nbsp;&nbsp;&nbsp;171308 | &nbsp;&nbsp; 59568931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology | 1263447 | &nbsp;&nbsp; 88757152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 1079890 | &nbsp;&nbsp; 258979220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity | &nbsp;&nbsp;&nbsp;&nbsp;773882 | &nbsp;&nbsp; 88841654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign † | &nbsp;&nbsp;&nbsp;&nbsp;355783 | &nbsp;&nbsp; 73092059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies Class A † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44145 | &nbsp;&nbsp; 11319219 |
|  |  | &nbsp;&nbsp; 794161293 |
| &nbsp;&nbsp;Materials — 4.81% | &nbsp;&nbsp;Materials — 4.81% | &nbsp;&nbsp;Materials — 4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Linde | &nbsp;&nbsp;&nbsp;&nbsp;296774 | &nbsp;&nbsp; 96801743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams | &nbsp;&nbsp;&nbsp;&nbsp;273857 | &nbsp;&nbsp; 64994482 |
|  |  | &nbsp;&nbsp; 161796225 |
| &nbsp;&nbsp;Utilities — 3.35% | &nbsp;&nbsp;Utilities — 3.35% | &nbsp;&nbsp;Utilities — 3.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy | 1348910 | &nbsp;&nbsp; 112768876 |
|  |  | &nbsp;&nbsp; 112768876 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $2,179,243,848)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $2,179,243,848)** | &nbsp;&nbsp; **3293045072** |
| &nbsp;&nbsp;**Short-Term Investments — 1.79%** | &nbsp;&nbsp;**Short-Term Investments — 1.79%** | &nbsp;&nbsp;**Short-Term Investments — 1.79%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 1.79% | &nbsp;&nbsp;Money Market Mutual Funds — 1.79% | &nbsp;&nbsp;Money Market Mutual Funds — 1.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 15033762 | &nbsp;&nbsp; 15033762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.06%) | 15033762 | &nbsp;&nbsp; 15033762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.23%) | 15033762 | &nbsp;&nbsp; 15033762 |

---

NQ-IV001 [12/22] 2/23 (2741219) 1

------

Delaware Ivy Core Equity Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **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 4.11%) | 15033763 | $15033763 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $60,135,049)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $60,135,049)** | &nbsp;&nbsp; **60135049** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.70%<br> (cost $2,239,378,897)** |  | &nbsp;&nbsp;**3,353,180,121■** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.30%** |  | &nbsp;&nbsp;&nbsp; **10068590** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 234,018,375 Shares Outstanding—100.00%** |  | &nbsp;&nbsp; **$3363248711** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Non-income producing security. |
| <sup>\*</sup> | Fully or partially on loan. |
| ■ | Includes $4,819,184 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $4,971,138. |

---

---

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

---

2 NQ-IV001 [12/22] 2/23 (2741219)

## 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:** Delaware Ivy Core Equity Fund

- **b. EDGAR series identifier (if any):** S000006288

- **c. LEI of Series:** W3XFT5PC8KN6APIOIR50

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**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:** $3373365969.28

**Total Liabilities:** $7362460.48

**Net Assets:** $3366003508.80

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000045545 | 8.26%                | 5.81%                | -5.75%               |
| Class ID C000017277 | 8.21%                | 5.83%                | -5.76%               |
| Class ID C000146680 | 8.29%                | 5.79%                | -5.73%               |
| Class ID C000017279 | 8.12%                | 5.76%                | -5.88%               |
| Class ID C000017280 | 8.25%                | 5.78%                | -5.78%               |
| Class ID C000122149 | 8.26%                | 5.72%                | -5.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15396879.03            | $292234982.01                              |
| Month 2  | $27082184.83             | $174980916.67                              |
| Month 3  | $67336880.16             | $-278502114.99                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CME Group Inc                                  | CME Group Inc                                  | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |    209108 | NS      | $35163601.28  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                           | Progressive Corp/The                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    784022 | NS      | $101695493.62 | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The                        | Sherwin-Williams Co/The                        | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |    273857 | NS      | $64994481.81  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1225386 | NS      | $108115806.78 | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  15033762 | NS      | $15033761.93  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity Ltd                            | TE Connectivity Ltd                            | CUSIP: 000000000<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | US        |    773882 | NS      | $88841653.60  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                 | Eli Lilly & Co                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    117293 | NS      | $42910471.12  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                       | Microchip Technology Inc                       | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |   1263447 | NS      | $88757151.75  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                  | Intercontinental Exchange Inc                  | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    317147 | NS      | $32536110.73  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                 | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    964567 | NS      | $82007486.34  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                      | Apple Inc                                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    748963 | NS      | $97312762.59  | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                          | Costco Wholesale Corp                          | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |    126467 | NS      | $57732185.50  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                     | Intuit Inc                                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |    145177 | NS      | $56505791.94  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                             | Union Pacific Corp                             | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    240094 | NS      | $49716264.58  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                                   | KKR & Co Inc                                   | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |   1324358 | NS      | $61476698.36  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                                   | AutoZone Inc                                   | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |     33687 | NS      | $83078205.66  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                                 | Blackstone Inc                                 | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |    657562 | NS      | $48784524.78  | 1.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Danaher Corp                                   | Danaher Corp                                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    316900 | NS      | $84111598.00  | 2.50%             |  |  |  | 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        |  15033762 | NS      | $15033762.44  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   1079890 | NS      | $258979219.80 | 7.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                      | Aptiv PLC                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    772087 | NS      | $71904462.31  | 2.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Vertex Pharmaceuticals Inc                     | Vertex Pharmaceuticals Inc                     | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |    156472 | NS      | $45185984.16  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  15033762 | NS      | $15033762.44  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                             | United Rentals Inc                             | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |    317406 | NS      | $112812440.52 | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                        | Zebra Technologies Corp                        | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     37853 | NS      | $9705887.73   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                     | Zoetis Inc                                     | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |    476397 | NS      | $69815980.35  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp                           | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   1169535 | NS      | $38734999.20  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                          | Applied Materials Inc                          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    613930 | NS      | $59784503.40  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                                   | VeriSign Inc                                   | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |    355783 | NS      | $73092059.52  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                         | UnitedHealth Group Inc                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    363924 | NS      | $192945226.32 | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                        | Aon PLC                                        | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | US        |    168138 | NS      | $50464939.32  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  15033762 | NS      | $15033762.44  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                        | Charles Schwab Corp/The                        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    885417 | NS      | $73719819.42  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                             | HCA Healthcare Inc                             | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |    369331 | NS      | $88624666.76  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    716935 | NS      | $60222540.00  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Managem                 | Artisan Partners Asset Management Inc          | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |   1278453 | NS      | $37970054.10  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                    | Equifax Inc                                    | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |    341758 | NS      | $66424084.88  | 1.97%             |  |  |  | No            |                  1 | On Loan: —       |
| Raytheon Technologies Corp                     | Raytheon Technologies Corp                     | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    447969 | NS      | $45209031.48  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                 | Mastercard Inc                                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    171308 | NS      | $59568930.84  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                 | ConocoPhillips                                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    720300 | NS      | $84995400.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software                  | Take-Two Interactive Software Inc              | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |    533684 | NS      | $55572514.92  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                     | Deere & Co                                     | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    175042 | NS      | $75051007.92  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                     | Sysco Corp                                     | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |   1107370 | NS      | $84658436.50  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                      | Airbus SE                                      | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |   2789607 | NS      | $82739743.62  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                            | American Express Co                            | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |    289181 | NS      | $42726492.75  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services                    | Discover Financial Services                    | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |    137485 | NS      | $13450157.55  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                      | Linde PLC                                      | CUSIP: 000000000<br>LEI: 8945002PAZHZLBGKGF02 | Long             | EC               | CORP              | GB        |    296774 | NS      | $96801743.32  | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy Inc                             | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1348910 | NS      | $112768876.00 | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Ltd                               | Schlumberger Ltd                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    818598 | NS      | $43762249.08  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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