(null)

NPORT-P false 0000814230 XXXXXXXX S000065941 C000212996 Delaware VIP Trust 811-05162 0000814230 549300UTFWWV5UI8OM26 100 Independence 610 Market Street Philadelphia 19106 800-523-1918 Delaware VIP Equity Income Series S000065941 549300JJQ0WK2B60VW73 2022-12-31 2022-03-31 N 119752315.93 1141981.00 118610334.93 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Chipotle Mexican Grill Inc N/A Chipotle Mexican Grill Inc 169656105 778.00000000 NS USD 1230819.34000000 1.037699910995 Long EC CORP US N 1 N N N Northrop Grumman Corp RIMU48P07456QXSO0R61 Northrop Grumman Corp 666807102 9898.00000000 NS USD 4426583.56000000 3.732038664769 Long EC CORP US N 1 N N N Western Union Co/The 28ID94QU1140NC23S047 Western Union Co/The 959802109 17911.00000000 NS USD 335652.14000000 0.282987262617 Long EC CORP US N 1 N N N Mondelez International Inc 549300DV9GIB88LZ5P30 Mondelez International Inc 609207105 27748.00000000 NS USD 1742019.44000000 1.468691106072 Long EC CORP US N 1 N N N Evercore Inc 529900P6KLPT95DW3W58 Evercore Inc 29977A105 7551.00000000 NS USD 840577.32000000 0.708688092396 Long EC CORP US N 1 N N N Fidelity National Financial In 549300CAZYIH39SYQ287 Fidelity National Financial Inc 31620R303 10791.00000000 NS USD 527032.44000000 0.444339391091 Long EC CORP US N 1 N N N HP Inc WHKXQACZ14C5XRO8LW03 HP Inc 40434L105 41097.00000000 NS USD 1491821.10000000 1.257749673230 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 34701.00000000 NS USD 6150058.23000000 5.185094733633 Long EC CORP US N 1 N N N Synchrony Financial 549300RS7EWPM9MA6C78 Synchrony Financial 87165B103 56682.00000000 NS USD 1973100.42000000 1.663514752879 Long EC CORP US N 1 N N N Fidelity Government Portfolio N/A Fidelity Government Portfolio 316175108 39466.37000000 NS USD 39466.37000000 0.033273972308 Long STIV RF US N 1 N N N Oracle Corp 1Z4GXXU7ZHVWFCD8TV52 Oracle Corp 68389X105 4129.00000000 NS USD 341592.17000000 0.287995283211 Long EC CORP US N 1 N N N Cigna Corp 549300VIWYMSIGT1U456 Cigna Corp 125523100 12074.00000000 NS USD 2893051.14000000 2.439122308951 Long EC CORP US N 1 N N N DuPont de Nemours Inc 5493004JF0SDFLM8GD76 DuPont de Nemours Inc 26614N102 18159.00000000 NS USD 1336139.22000000 1.126494770281 Long EC CORP US N 1 N N N Cardinal Health Inc CCU46N3GJMF4OK4N7U60 Cardinal Health Inc 14149Y108 12504.00000000 NS USD 708976.80000000 0.597736108256 Long EC CORP US N 1 N N N Discover Financial Services Z1YLO2USPORE63VVUL20 Discover Financial Services 254709108 5198.00000000 NS USD 572767.62000000 0.482898577377 Long EC CORP US N 1 N N N American Financial Group Inc/O 549300AFOM7IVKIU1G39 American Financial Group Inc/OH 025932104 6797.00000000 NS USD 989779.14000000 0.834479677158 Long EC CORP US N 1 N N N Truist Financial Corp 549300DRQQI75D2JP341 Truist Financial Corp 89832Q109 54856.00000000 NS USD 3110335.20000000 2.622313815938 Long EC CORP US N 1 N N N MSILF Government Portfolio 549300BI6Y5SI6BYPB26 MSILF Government Portfolio 61747C707 39466.37000000 NS USD 39466.37000000 0.033273972308 Long STIV RF US N 1 N N N Archer-Daniels-Midland Co 549300LO13MQ9HYSTR83 Archer-Daniels-Midland Co 039483102 8501.00000000 NS USD 767300.26000000 0.646908433782 Long EC CORP US N 1 N N N AmerisourceBergen Corp AI8GXW8LG5WK7E9UD086 AmerisourceBergen Corp 03073E105 12601.00000000 NS USD 1949500.71000000 1.643617911668 Long EC CORP US N 1 N N N Gilead Sciences Inc 549300WTZWR07K8MNV44 Gilead Sciences Inc 375558103 48462.00000000 NS USD 2881065.90000000 2.429017590836 Long EC CORP US N 1 N N N First American Financial Corp 549300B6VEZK3N0A1P55 First American Financial Corp 31847R102 57601.00000000 NS USD 3733696.82000000 3.147868035448 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 ConocoPhillips 20825C104 27757.00000000 NS USD 2775700.00000000 2.340183932233 Long EC CORP US N 1 N N N Honeywell International Inc ISRPG12PN4EIEOEMW547 Honeywell International Inc 438516106 9972.00000000 NS USD 1940351.76000000 1.635904460724 Long EC CORP US N 1 N N N Motorola Solutions Inc 6S552MUG6KGJVEBSEC55 Motorola Solutions Inc 620076307 17000.00000000 NS USD 4117400.00000000 3.471366978627 Long EC CORP US N 1 N N N APA Corp N/A APA Corp 03743Q108 8288.00000000 NS USD 342543.04000000 0.288796958715 Long EC CORP US N 1 N N N OneMain Holdings Inc 549300E3VEW8SMS5XW09 OneMain Holdings Inc 68268W103 30609.00000000 NS USD 1451172.69000000 1.223479126718 Long EC CORP US N 1 N N N Exxon Mobil Corp J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp 30231G102 64159.00000000 NS USD 5298891.81000000 4.467479004360 Long EC CORP US N 1 N N N Goldman Sachs Financial Square Government Fund N/A Goldman Sachs Financial Square Government Fund 38141W273 39466.37000000 NS USD 39466.37000000 0.033273972308 Long STIV RF US N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 Broadcom Inc 11135F101 5919.00000000 NS USD 3727075.92000000 3.142285975500 Long EC CORP US N 1 N N N Comcast Corp 51M0QTTNCGUN7KFCFZ59 Comcast Corp 20030N101 73229.00000000 NS USD 3428581.78000000 2.890626505711 Long EC CORP US N 1 N N N Altria Group Inc XSGZFLO9YTNO9VCQV219 Altria Group Inc 02209S103 36724.00000000 NS USD 1918829.00000000 1.617758689520 Long EC CORP US N 1 N N N Merck & Co Inc 4YV9Y5M8S0BRK1RP0397 Merck & Co Inc 58933Y105 45294.00000000 NS USD 3716372.70000000 3.133262124412 Long EC CORP US N 1 N N N Allstate Corp/The OBT0W1ED8G0NWVOLOJ77 Allstate Corp/The 020002101 26581.00000000 NS USD 3681734.31000000 3.104058606843 Long EC CORP US N 1 N N N Philip Morris International In HL3H1H2BGXWVG3BSWR90 Philip Morris International Inc 718172109 37303.00000000 NS USD 3504243.82000000 2.954416933455 Long EC CORP US N 1 N N N MetLife Inc C4BXATY60WC6XEOZDX54 MetLife Inc 59156R108 43908.00000000 NS USD 3085854.24000000 2.601673995627 Long EC CORP US N 1 N N N Unum Group 549300E32YFDO6TZ8R31 Unum Group 91529Y106 33241.00000000 NS USD 1047423.91000000 0.883079801282 Long EC CORP US N 1 N N N Pfizer Inc 765LHXWGK1KXCLTFYQ30 Pfizer Inc 717081103 21363.00000000 NS USD 1105962.51000000 0.932433510665 Long EC CORP US N 1 N N N Verizon Communications Inc 2S72QS2UO2OESLG6Y829 Verizon Communications Inc 92343V104 73199.00000000 NS USD 3728757.06000000 3.143703339342 Long EC CORP US N 1 N N N CVS Health Corp 549300EJG376EN5NQE29 CVS Health Corp 126650100 26354.00000000 NS USD 2667288.34000000 2.248782402961 Long EC CORP US N 1 N N N Viatris Inc 254900ZZTSW7NL773X71 Viatris Inc 92556V106 118638.00000000 NS USD 1290781.44000000 1.088253768747 Long EC CORP US N 1 N N N Cognizant Technology Solutions 5493006IEVQEFQO40L83 Cognizant Technology Solutions Corp 192446102 44684.00000000 NS USD 4006814.28000000 3.378132506214 Long EC CORP US N 1 N N N Old Republic International Cor 549300IV6O2YY2A1KH37 Old Republic International Corp 680223104 75530.00000000 NS USD 1953961.10000000 1.647378452436 Long EC CORP US N 1 N N N American International Group I ODVCVCQG2BP6VHV36M30 American International Group Inc 026874784 32933.00000000 NS USD 2067204.41000000 1.742853530613 Long EC CORP US N 1 N N N AT&T Inc 549300Z40J86GGSTL398 AT&T Inc 00206R102 110608.00000000 NS USD 2613667.04000000 2.203574453729 Long EC CORP US N 1 N N N Emerson Electric Co FGLT0EWZSUIRRITFOA30 Emerson Electric Co 291011104 17845.00000000 NS USD 1749702.25000000 1.475168458998 Long EC CORP US N 1 N N N Lowe's Cos Inc WAFCR4OKGSC504WU3E95 Lowe's Cos Inc 548661107 6034.00000000 NS USD 1220014.46000000 1.028590350680 Long EC CORP US N 1 N N N TJX Cos Inc/The V167QI9I69W364E2DY52 TJX Cos Inc/The 872540109 50160.00000000 NS USD 3038692.80000000 2.561912334024 Long EC CORP US N 1 N N N Bristol-Myers Squibb Co HLYYNH7UQUORYSJQCN42 Bristol-Myers Squibb Co 110122108 60476.00000000 NS USD 4416562.28000000 3.723589755147 Long EC CORP US N 1 N N N AbbVie Inc FR5LCKFTG8054YNNRU85 AbbVie Inc 00287Y109 4008.00000000 NS USD 649736.88000000 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Schedule of investments

Delaware VIP^® Trust — Delaware VIP Equity Income Series

March 31, 2022 (Unaudited)

	Number of shares	Value (US $)
Common Stocks — 99.53%
Communication Services — 8.24%
AT&T	110,608	$ 2,613,667
Comcast Class A	73,229	3,428,582
Verizon Communications	73,199	3,728,757
		9,771,006
Consumer Discretionary — 4.92%
APA	8,288	342,543
Chipotle Mexican Grill †	778	1,230,819
Lowe's	6,034	1,220,015
TJX	50,160	3,038,693
		5,832,070
Consumer Staples — 6.69%
Altria Group	36,724	1,918,829
Archer-Daniels-Midland	8,501	767,300
Mondelez International Class A	27,748	1,742,019
Philip Morris International	37,303	3,504,244
		7,932,392
Energy — 6.81%
ConocoPhillips	27,757	2,775,700
Exxon Mobil	64,159	5,298,892
		8,074,592
Financials — 21.10%
Allstate	26,581	3,681,734
American Financial Group	6,797	989,779
American International Group	32,933	2,067,204
Discover Financial Services	5,198	572,767
Evercore Class A	7,551	840,577
Fidelity National Financial	10,791	527,033
First American Financial	57,601	3,733,697
MetLife	43,908	3,085,854
Old Republic International	75,530	1,953,961
OneMain Holdings	30,609	1,451,173
Synchrony Financial	56,682	1,973,101
Truist Financial	54,856	3,110,335
Unum Group	33,241	1,047,424
		25,034,639
Healthcare — 23.97%
AbbVie	4,008	649,737
AmerisourceBergen	12,601	1,949,501
Bristol-Myers Squibb	60,476	4,416,562
Cardinal Health	12,504	708,977
Cigna	12,074	2,893,051
CVS Health	26,354	2,667,288
Gilead Sciences	48,462	2,881,066
Johnson & Johnson	34,701	6,150,058
Merck & Co.	45,294	3,716,373
Pfizer	21,363	1,105,963

	Number of shares	Value (US $)
Common Stocks (continued)
Healthcare (continued)
Viatris	118,638	$ 1,290,781
		28,429,357
Industrials — 10.65%
Emerson Electric	17,845	1,749,702
Honeywell International	9,972	1,940,352
Northrop Grumman	9,898	4,426,583
Raytheon Technologies	45,566	4,514,224
		12,630,861
Information Technology — 15.71%
Broadcom	5,919	3,727,076
Cisco Systems	82,819	4,617,988
Cognizant Technology Solutions Class A	44,684	4,006,814
HP	41,097	1,491,821
Motorola Solutions	17,000	4,117,400
Oracle	4,129	341,592
Western Union	17,911	335,652
		18,638,343
Materials — 1.44%
DuPont de Nemours	18,159	1,336,139
Newmont	4,744	376,911
		1,713,050
Total Common Stocks (cost $97,632,901)		118,056,310



Short-Term Investments — 0.14%
Money Market Mutual Funds — 0.14%
BlackRock FedFund – Institutional Shares (seven-day effective yield 0.23%)	39,467	39,467
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 0.12%)	39,466	39,466
GS Financial Square Government Fund – Institutional Shares (seven-day effective yield 0.25%)	39,466	39,466

NQ-FL1 [3/22] 5/22 (2218513) 1

Schedule of investments

Delaware VIP^® Trust — Delaware VIP Equity Income Series

	Number of shares	Value (US $)
Short-Term Investments (continued)
Money Market Mutual Funds (continued)
Morgan Stanley Government Portfolio – Institutional Share Class (seven-day effective yield 0.23%)	39,467	$ 39,467
Total Short-Term Investments (cost $157,866)		157,866


Total Value of Securities—99.67% (cost $97,790,767)		118,214,176
Receivables and Other Assets Net of Liabilities—0.33%		396,889
Net Assets Applicable to 6,021,662 Shares Outstanding—100.00%		$118,611,065

†	Non-income producing security.

Summary of abbreviations:

GS – Goldman Sachs

2 NQ-FL1 [3/22] 5/22 (2218513)