Nomura Value Fund, a series of Delaware Group Equity Funds II on Qnity Electronics, Inc.

Qnity Electronics benefited from strong volume growth driven by robust AI-related semiconductor demand and raised its full-year revenue and EPS guidance. The fund views the company as an important supplier of materials used in advanced semiconductor manufacturing and packaging. That supplier position gives Qnity exposure to rising advanced-chip demand without requiring the fund to identify which individual chip designer or manufacturer ultimately wins the AI buildout. The thesis is therefore based on broad semiconductor ecosystem growth rather than a single end-market winner.