Nomura Core Equity Fund
IVY FUNDS · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Nomura Core Equity Fund is an actively managed U.S. equity fund. 17% of WCEAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 84% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
Macquarie Core Equity Fund seeks to provide capital growth and appreciation.
The fund invests at least 80% of assets in large-capitalization common stocks selected through a combination of top-down thematic analysis and bottom-up stock picking, targeting companies with sustainable competitive advantages, financial strength, and long-term earnings potential exceeding market expectations. The manager identifies macro trends and cyclical shifts, then seeks dominant companies positioned to benefit from those themes while screening for catalysts such as new products, management changes, or cost restructuring. The fund typically holds 40 to 50 stocks. Because performance depends on the manager's forecasts of individual company earnings and competitive positioning, results may diverge materially from broad equity market returns.
| Share class | Gross | Net |
|---|---|---|
| WCEAX | 1.01% | 0.99% |
| WTRCX | 1.76% | 1.74% |
| WCEYX | 1.01% | 0.99% |
| ICIEX | 0.76% | 0.74% |
| IYCEX | 1.26% | 1.24% |
| ICEQX | 0.69% | 0.67% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 24.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.17% |
| Cash & short-term | 1.90% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 27.0% |
| Financials | 15.8% |
| International | 14.8% |
| Industrials | 11.5% |
| 8 smaller | 30.9% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +28.16% | +77.75% | +57.51% | 15.64% | -8.20% | |
| +27.27% | +73.79% | +52.81% | 15.66% | -8.38% | |
| +28.13% | +77.68% | +58.22% | 15.61% | -8.21% | |
| +28.46% | +79.10% | +59.81% | 15.64% | -8.16% | |
| +27.80% | +76.38% | +56.32% | 15.61% | -8.25% | |
| +28.53% | +79.33% | +60.24% | 15.64% | -8.14% |
These classes hold the same portfolio, so the 7.43pp spread over 5 years is the cost difference between them — roughly 1.49pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| GOOGL | ALPHABET INCGOOGL | 6.81% | $357.37 | $260.10M | 727.8K |
| NVDA | NVIDIA CORPNVDA | 6.49% | $200.09 | $247.83M | 1.2M |
| AAPL | APPLE INCAAPL | 5.46% | $289.36 | $208.70M | 721.2K |
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTDTSM | 5.32% | $477.57 | $203.44M | 426.0K |
| AMAT | APPLIED MATERIALS INCAMAT | 3.97% | $723.00 | $151.65M | 209.8K |
| HWM | HOWMET AEROSPACE INCHWM | 3.53% | $268.86 | $135.01M | 502.1K |
| — | SEAGATE TECHNOLOGY HOLDINGS PLC | 3.50% | $965.00 | $133.91M | 138.8K |
| MSFT | MICROSOFT CORPMSFT | 3.46% | $373.02 | $132.04M | 354.0K |
| AMD | ADVANCED MICRO DEVICES INCAMD | 3.06% | $580.91 | $117.10M | 201.6K |
| AMZN | AMAZON.COM INCAMZN | 3.05% | $238.34 | $116.46M | 488.6K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 44.65% of net assets, top 25 74.52%, across 52 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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