Ivy Value Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 0.77 0.0 0.77
Stocks 85.91 0.0 85.91
Bonds 0.88 0.0 0.88
Other 2.96 0.56 2.39
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 10.06 0.0 10.06
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
Citigroup Inc C -8.62 4.48
Western Digital Corporation WDC 4.77 4.37
Xerox Corporation XRX -10.68 4.15
Time Warner Cable Inc TWC 3.31 4.03
JPMorgan Chase & Co JPM -3.23 3.91
Wells Fargo & Co WFC 2.31 3.38
LyondellBasell Industries NV LYB 10.95 3.2
Comcast Corp Class A CMCSA -1.86 3.09
Atlas Pipeline Partners LP APL -11.13 3.05
Dow Chemical Co DOW 9.1 3.05