Key features
Stocks are selected by an experienced small-cap focused investment team that has managed the fund since 2004
Focused on uncovering the best opportunities across the traditionally under-researched US small company market
A daily review of the portfolio's risk exposures ensures alpha is driven by stock selection
Daily pricing
as of
10/10/2024
NAV 1-day net change
-0.13
Total net assets
as of
09/30/2024
All share classes
$7.6 billion
Overview
Fund identifiers |
NASDAQ |
DCCIX |
CUSIP |
24610B859 |
Benchmark and peer group
Portfolio
Market cap (median) Source: FactSet
$3.2 billion
Market cap (weighted average) Source: FactSet
$4.1 billion
Portfolio turnover (last fiscal year)
26%
Cash, cash equivalents and other assets
1.4%
International equities & depositary receipts
1.0%
Top 10 holdings
as of 09/30/2024
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Fund's complete list of holdings for more information.
Holdings based by issuer.
PRESTIGE CONSUMER HEALTHCARE INC
1.53
FEDERAL SIGNAL CORPORATION
1.49
APPLIED INDUSTRIAL TECHNOLOGIES INC.
1.48
SUMMIT MATERIALS INC
1.33
TAYLOR MORRISON HOME CORP
1.32
BALDWIN INSURANCE GROUP INC
1.31
HALOZYME THERAPEUTICS INC
1.30
Total % Portfolio in Top 10 holdings - 14.15%
Sector allocation
as of 09/30/2024
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Fund’s complete list of holdings for more information.
Consumer discretionary
4.0%
Communications services
0.2%
Credit quality as of //
Distribution history - annual distributions (Institutional
Class)1,2
Distributions ($ per share)
1If a Fund makes a distribution from any source other than net income, it is required to
provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The
amounts and sources of distributions reported above and in each Notice are only estimates and are not
provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the
calendar year that will provide definitive information on how to report the Fund's distributions for
federal income tax purposes. The information in the table above will not be updated to reflect any
subsequent recharacterization of dividends and distributions. Click here to see recent
Notices pertaining to the Fund (if any).
2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.
3Includes both short- and long-term capital gains.
Management
Francis Morris
-
Senior Managing Director, Head of US Core Equity
-
Start date on the Fund:
November 2004
-
Years of industry experience:
41
-
Read bio
Francis Morris
Senior Managing Director, Head of US Core Equity
- Joined Delaware Investments in 1997, acquired by Macquarie in 2010
- Based in Philadelphia
Frank is Head of Core Equity, a role he first assumed with Delaware Investments in November 2004. Frank is responsible for management of the team’s investment portfolios and business, and he performs analysis and research.
Frank joined Delaware Investments as Vice President and Portfolio Manager. Prior to joining the firm, Frank was Vice President and Director of Equity Research at PNC Asset Management, where he began his investment career in 1983.
Frank holds a Bachelor of Arts from Providence College and a Master of Business Administration from Widener University. He is a former member of the Business Advisory Council of the Providence College School of Business. Frank is a past President of the CFA Society of Philadelphia.
Christopher Adams, CFA
-
Managing Director, Senior Portfolio Manager – US Core Equity
-
Start date on the Fund:
November 2004
-
Years of industry experience:
36
-
Read bio
Christopher Adams
Managing Director, Senior Portfolio Manager – US Core Equity
- Joined Delaware Investments in 1995, acquired by Macquarie in 2010
- Based in Philadelphia
Chris is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Core Equity Team, a role he first assumed with Delaware Investments in November 2004. Chris performs analysis and research to support the portfolios managed by the investment team.
Chris joined the US Core Equity Team in 2000. He joined Delaware Investments as Assistant Vice President of Strategic Planning. Prior to joining the firm, Chris had approximately 10 years of experience in the financial services industry in the US and UK, including positions with Coopers & Lybrand, The Sumitomo Bank, Bank of America, and Lloyds Bank.
Chris holds Bachelor of Arts and Master of Arts degrees in history and economics from the University of Oxford and received a Master of Business Administration with dual concentrations in finance and insurance/risk management from The Wharton School of the University of Pennsylvania. Chris holds the Chartered Financial Analyst® designation, and he is a member of the CFA Institute and the CFA Society of Philadelphia. He is a past President of the CFA Society of Philadelphia.
Michael Morris, CFA
-
Managing Director, Senior Portfolio Manager – US Core Equity
-
Start date on the Fund:
November 2004
-
Years of industry experience:
31
-
Read bio
Michael Morris
Managing Director, Senior Portfolio Manager – US Core Equity
- Joined Delaware Investments in 1999, acquired by Macquarie in 2010
- Based in Philadelphia
Mike is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Core Equity Team, a role he first assumed with Delaware Investments in November 2004. Mike performs analysis and research to support the portfolios managed by the investment team.
Mike joined Delaware Investments as Assistant Vice President and Senior Equity Analyst. Prior to joining the firm, Mike was a Senior Equity Analyst at Newbold’s Asset Management, covering financial stocks. Mike began his investment career at Ohio Casualty in 1993.
Mike received a Bachelor of Science in finance from Indiana University and a Master of Business Administration from The Wharton School of the University of Pennsylvania. He is a former member of the Bank and Financial Analysts Association. Mike holds the Chartered Financial Analyst® designation, and he is a member of the CFA Institute and the CFA Society of Philadelphia.
Donald Padilla, CFA
-
Managing Director, Senior Portfolio Manager – US Core Equity
-
Start date on the Fund:
November 2004
-
Years of industry experience:
37
-
Read bio
Donald Padilla
Managing Director, Senior Portfolio Manager – US Core Equity
- Joined Delaware Investments in 1994, acquired by Macquarie in 2010
- Based in Philadelphia
Don is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Core Equity Team, a role he first assumed with Delaware Investments in November 2004. Don performs analysis and research to support the portfolios managed by the investment team.
Don joined Delaware Investments as Assistant Controller in the firm’s treasury function. In this role, he was responsible for managing corporate cash investments, developing financial models, and overseeing the financial operations of the Lincoln Life 401(k) annuities segment. Prior to joining the firm, Don held various positions at The Vanguard Group, where he began his investment career in 1987.
Don received a Bachelor of Science in accounting from Lehigh University. Don holds the Chartered Financial Analyst® designation, and he is a member of the CFA Institute and the CFA Society of Philadelphia.
David Reidinger
-
Managing Director, Senior Portfolio Manager – US Core Equity
-
Start date on the Fund:
October 2016
-
Years of industry experience:
31
-
Read bio
David Reidinger
Managing Director, Senior Portfolio Manager – US Core Equity
- Joined Macquarie in 2016
- Based in Philadelphia
Dave is a Senior Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Core Equity Team, a role he assumed in October 2016. Dave performs analysis and research to support the portfolios managed by the investment team.
Prior to joining the firm, Dave was a Senior Equity Analyst and Portfolio Manager at Chartwell Investment Partners, where he had worked on the firm’s small- and mid-cap growth strategies since 2004. Prior to Chartwell, Dave was a Portfolio Manager at Morgan Stanley Investment Management and a Senior Equity Analyst at Tiger Management. Dave began his investment career in 1993 as an Equity Research Analyst at Goldman Sachs.
Dave received a Bachelor of Arts in mathematics and economics from Fordham University and a Master of Business Administration from Columbia Business School.
Christina Van Het Hoen, CFA
-
Senior Vice President, Portfolio Manager – US Core Equity
-
Start date on the Fund:
July 2024
-
Years of industry experience:
13
-
Read bio
Christina Van Het Hoen
Senior Vice President, Portfolio Manager – US Core Equity
- Joined Macquarie in 2021
- Based in Philadelphia
Christina is a Portfolio Manager for Macquarie Asset Management’s (MAM’s) US Core Equity Team, a role she assumed in April 2024. She performs analysis and research to support the portfolios managed by the investment team, which she joined in July 2021 as a Senior Equity Analyst.
Prior to Macquarie, she worked at Capital Group as part of Capital Fixed Income Investors for nearly six years and at Citigroup in the healthcare investment banking, global securitized products, and equity capital markets groups for four years.
Christina is on the board of Children’s Village in Philadelphia, a non-profit that offers early childhood education to young and school-aged children.
She holds a Bachelor of Science in engineering in operations research and financial engineering from Princeton University. She holds the Chartered Financial Analyst® designation and is a member of the CFA Institute, CFA Society of Philadelphia, and CFA Society of New York.
Fees
The table below describes the fees and expenses that you may pay if you buy, hold, and sell
shares of the Fund. You may pay other fees, such as brokerage commissions and other fees
to financial intermediaries, which are not reflected in the table below. You may
qualify for sales-charge discounts if you and your family invest, or agree to invest in the
future, at least $50,000 in Delaware Funds by Macquarie. More information about these and other
discounts is available from your financial intermediary, in the Fund’s Prospectus under the
section entitled “About your account,” and in the Fund’s statement of additional information
(SAI) under the section entitled “Purchasing Shares.”
Shareholder fees |
Maximum sales charge (load) imposed on purchases as a percentage of offering price |
none |
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower |
none |
Annual fund operating expenses |
Management fees |
0.63% |
Distribution and service (12b-1) fees |
none |
Other expenses |
0.21% |
Total annual fund operating expenses |
0.84% |
Please see the prospectus and SAI for additional information.
Institutional Class shares are available only to certain investors. See the
prospectus for more information.
Resources
Fact sheet and commentaries
Shareholder report – Annual
Shareholder report – Semi-annual
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Other than Macquarie Bank Limited (MBL), none of the entities noted are authorised deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.
The Funds are distributed by Delaware Distributors, L.P., an affiliate of Macquarie Investment Management Business Trust (MIMBT), Macquarie Management Holdings, Inc., and Macquarie Group Limited. Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group Limited and its subsidiaries and affiliates worldwide.
Separately managed account advisory services are provided by Delaware Capital Management (DCM), a series of MIMBT. Separately managed account advisory services are referred through Delaware Capital Management Advisers, Inc., an SEC-registered investment advisor.