DELAWARE GROUP EQUITY FUNDS IV INC
NSAR-A, 1997-05-27
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 0000778108
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 DELAWARE GROUP EQUITY FUNDS IV, INC.
001 B000000 811-4413
001 C000000 2152552926
002 A000000 2005 MARKET STREET
002 B000000 PHILADELPHIA
002 C000000 PA
002 D010000 19103
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 DELCAP FUND
007 C030100 N
007 C010200  2
007 C020200 CAPITAL APPRECIATION FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   54
019 C00AA00 DELAWARECX
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001    107
020 A000002 ALEX BROWN & SONS, INC.
020 B000002 52-0256630
020 C000002    105
020 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000003 13-2741729
020 C000003     92
020 A000004 FIRST BOSTON CORPORATION (THE)
020 B000004 13-5659485
<PAGE>      PAGE  2
020 C000004     60
020 A000005 SOUNDVIEW FINANCIAL GROUP, INC.
020 B000005 13-2998183
020 C000005     55
020 A000006 MONTGOMERY SECURITIES
020 B000006 94-1701676
020 C000006     53
020 A000007 LAWRENCE (C.J.)
020 B000007 94-2524501
020 C000007     41
020 A000008 GOLDMAN SACHS & CO.
020 B000008 13-5108880
020 C000008     39
020 A000009 SMITH BARNEY SHEARSON, INC.
020 B000009 13-1912900
020 C000009     34
020 A000010 FSC SECURITIES CORPORATION
020 B000010 58-1288674
020 C000010     32
021  000000     1100
022 A000001 ALEX BROWN & SONS, INC.
022 B000001 52-0256630
022 C000001     41420
022 D000001     44302
022 A000002 MORGAN STANLEY & COMPANY, INC.
022 B000002 13-2655998
022 C000002     31960
022 D000002     49726
022 A000003 LUMMIS & CO.
022 C000003     81260
022 D000003         0
022 A000004 HAMBRECHT & QUIST, INC.
022 B000004 94-2856935
022 C000004     29593
022 D000004     23167
022 A000005 WESSELS, ARNOLD & HENDERSON
022 B000005 41-1798206
022 C000005     30630
022 D000005      9945
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006     19962
022 D000006     15593
022 A000007 LAWRENCE (C.J.)
022 B000007 94-2524501
022 C000007     11823
022 D000007     11211
022 A000008 CANTOR FITZGERALD & CO.
022 B000008 13-3680184
022 C000008      3659
022 D000008     19164
<PAGE>      PAGE  3
022 A000009 SMITH BARNEY SHEARSON, INC.
022 B000009 13-1912900
022 C000009     13387
022 D000009      8755
022 A000010 PRUDENTIAL SECURITIES, INC.
022 B000010 22-2347336
022 C000010     10527
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<PAGE>      PAGE  6
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SIGNATURE   ROSEMARY E. MILNER                           
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 011
   <NAME> DELCAP FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      738,466,409
<INVESTMENTS-AT-VALUE>                     885,904,939         
<RECEIVABLES>                               22,785,277     
<ASSETS-OTHER>                                   1,956     
<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                362,058
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<SHARES-COMMON-PRIOR>                       30,037,007
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<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                    (4,001,715)
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<APPREC-INCREASE-CURRENT>                (193,253,619)
<NET-CHANGE-FROM-OPS>                    (118,962,781)
<EQUALIZATION>                                       0 
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<OVERDISTRIB-NII-PRIOR>                              0  
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<PER-SHARE-NAV-BEGIN>                           30.740      
<PER-SHARE-NII>                                (0.110)
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<EXPENSE-RATIO>                                   1.34
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<AVG-DEBT-PER-SHARE>                                 0  
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 012
   <NAME> DELCAP FUND B CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
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<INVESTMENTS-AT-VALUE>                     885,904,939         
<RECEIVABLES>                               22,785,277     
<ASSETS-OTHER>                                   1,956     
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             908,692,172 
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<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                         39,928,079
<SENIOR-EQUITY>                                362,058
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<APPREC-INCREASE-CURRENT>                (193,253,619)
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<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        3,886,987  
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                        15,921,612
<PER-SHARE-NAV-BEGIN>                           30.300      
<PER-SHARE-NII>                                (0.201)
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<EXPENSE-RATIO>                                   2.04
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<AVG-DEBT-PER-SHARE>                                 0  
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                     
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 013
   <NAME> DELCAP FUND C CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      738,466,409
<INVESTMENTS-AT-VALUE>                     885,904,939         
<RECEIVABLES>                               22,785,277     
<ASSETS-OTHER>                                   1,956     
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             908,692,172 
<PAYABLE-FOR-SECURITIES>                    26,137,843
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                         39,928,079
<SENIOR-EQUITY>                                362,058
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<INTEREST-INCOME>                            1,887,874    
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                    (4,001,715)
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<APPREC-INCREASE-CURRENT>                (193,253,619)
<NET-CHANGE-FROM-OPS>                    (118,962,781)
<EQUALIZATION>                                       0 
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<DISTRIBUTIONS-OTHER>                                0
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<ACCUMULATED-GAINS-PRIOR>                  130,685,585
<OVERDISTRIB-NII-PRIOR>                              0  
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        3,886,987  
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              6,769,277           
<AVERAGE-NET-ASSETS>                         2,256,279
<PER-SHARE-NAV-BEGIN>                           30.570      
<PER-SHARE-NII>                                (0.202)
<PER-SHARE-GAIN-APPREC>                        (3.058) 
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        3.590
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                             23.720
<EXPENSE-RATIO>                                   2.04
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0  
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 014
   <NAME> DELCAP FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
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<INVESTMENTS-AT-VALUE>                     885,904,939         
<RECEIVABLES>                               22,785,277     
<ASSETS-OTHER>                                   1,956     
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             908,692,172 
<PAYABLE-FOR-SECURITIES>                    26,137,843
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   13,790,236
<TOTAL-LIABILITIES>                         39,928,079
<SENIOR-EQUITY>                                362,058
<PAID-IN-CAPITAL-COMMON>                   652,806,151
<SHARES-COMMON-STOCK>                        4,903,023
<SHARES-COMMON-PRIOR>                        5,719,642
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<OVERDISTRIBUTION-NII>                               0 
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<OVERDISTRIBUTION-GAINS>                             0
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<DIVIDEND-INCOME>                              879,688       
<INTEREST-INCOME>                            1,887,874    
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               6,769,277
<NET-INVESTMENT-INCOME>                    (4,001,715)
<REALIZED-GAINS-CURRENT>                    78,292,553
<APPREC-INCREASE-CURRENT>                (193,253,619)
<NET-CHANGE-FROM-OPS>                    (118,962,781)
<EQUALIZATION>                                       0 
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                    20,595,496
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        983,100 
<NUMBER-OF-SHARES-REDEEMED>                  2,562,515
<SHARES-REINVESTED>                            762,796
<NET-CHANGE-IN-ASSETS>                   (247,867,601)
<ACCUMULATED-NII-PRIOR>                    (7,244,771)
<ACCUMULATED-GAINS-PRIOR>                  130,685,585
<OVERDISTRIB-NII-PRIOR>                              0  
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        3,886,987  
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              6,769,277           
<AVERAGE-NET-ASSETS>                       158,037,432
<PER-SHARE-NAV-BEGIN>                           31.160      
<PER-SHARE-NII>                                (0.069)
<PER-SHARE-GAIN-APPREC>                        (3.141) 
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        3.590
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                             24.360
<EXPENSE-RATIO>                                   1.04
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0  
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 021
   <NAME> CAPITAL APPRECIATION FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        2,013,592
<INVESTMENTS-AT-VALUE>                       1,904,118
<RECEIVABLES>                                    1,252
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               435
<TOTAL-ASSETS>                               1,905,805
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        5,095
<TOTAL-LIABILITIES>                              5,095
<SENIOR-EQUITY>                                  2,362
<PAID-IN-CAPITAL-COMMON>                     2,005,605
<SHARES-COMMON-STOCK>                              710
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,969
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (109,474)
<NET-ASSETS>                                     5,712
<DIVIDEND-INCOME>                                5,838
<INTEREST-INCOME>                                2,926
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   4,912
<NET-INVESTMENT-INCOME>                          3,852
<REALIZED-GAINS-CURRENT>                           248
<APPREC-INCREASE-CURRENT>                    (109,474)
<NET-CHANGE-FROM-OPS>                        (105,374)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            1
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            710
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,900,710
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,916
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  8,721
<AVERAGE-NET-ASSETS>                             3,925
<PER-SHARE-NAV-BEGIN>                            8.500
<PER-SHARE-NII>                                  0.016
<PER-SHARE-GAIN-APPREC>                        (0.458)
<PER-SHARE-DIVIDEND>                             0.008
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              8.050
<EXPENSE-RATIO>                                   0.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 022
   <NAME> CAPITAL APPRECIATION FUND B CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        2,013,592
<INVESTMENTS-AT-VALUE>                       1,904,118
<RECEIVABLES>                                    1,252
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               435
<TOTAL-ASSETS>                               1,905,805
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        5,095
<TOTAL-LIABILITIES>                              5,095
<SENIOR-EQUITY>                                  2,362
<PAID-IN-CAPITAL-COMMON>                     2,005,605
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,969
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (109,474)
<NET-ASSETS>                                         0
<DIVIDEND-INCOME>                                5,838
<INTEREST-INCOME>                                2,926
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   4,912
<NET-INVESTMENT-INCOME>                          3,852
<REALIZED-GAINS-CURRENT>                           248
<APPREC-INCREASE-CURRENT>                    (109,474)
<NET-CHANGE-FROM-OPS>                        (105,374)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,900,710
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,916
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  8,721
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 023
   <NAME> CAPITAL APPRECIATION FUND C CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        2,013,592
<INVESTMENTS-AT-VALUE>                       1,904,118
<RECEIVABLES>                                    1,252
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               435
<TOTAL-ASSETS>                               1,905,805
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        5,095
<TOTAL-LIABILITIES>                              5,095
<SENIOR-EQUITY>                                  2,362
<PAID-IN-CAPITAL-COMMON>                     2,005,605
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,969
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (109,474)
<NET-ASSETS>                                         0
<DIVIDEND-INCOME>                                5,838
<INTEREST-INCOME>                                2,926
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   4,912
<NET-INVESTMENT-INCOME>                          3,852
<REALIZED-GAINS-CURRENT>                           248
<APPREC-INCREASE-CURRENT>                    (109,474)
<NET-CHANGE-FROM-OPS>                        (105,374)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,900,710
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,916
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  8,721
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                         
<CIK> 0000778108
<NAME> DELAWARE GROUP EQUITY FUNDS IV, INC
<SERIES>
   <NUMBER> 024
   <NAME> CAPITAL APPRECIATION FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        2,013,592
<INVESTMENTS-AT-VALUE>                       1,904,118
<RECEIVABLES>                                    1,252
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               435
<TOTAL-ASSETS>                               1,905,805
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        5,095
<TOTAL-LIABILITIES>                              5,095
<SENIOR-EQUITY>                                  2,362
<PAID-IN-CAPITAL-COMMON>                     2,005,605
<SHARES-COMMON-STOCK>                          235,520
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,969
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            248
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (109,474)
<NET-ASSETS>                                 1,894,998
<DIVIDEND-INCOME>                                5,838
<INTEREST-INCOME>                                2,926
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   4,912
<NET-INVESTMENT-INCOME>                          3,852
<REALIZED-GAINS-CURRENT>                           248
<APPREC-INCREASE-CURRENT>                    (109,474)
<NET-CHANGE-FROM-OPS>                        (105,374)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        1,882
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        235,295
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                225
<NET-CHANGE-IN-ASSETS>                       1,900,710
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,916
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  8,721
<AVERAGE-NET-ASSETS>                         2,006,397
<PER-SHARE-NAV-BEGIN>                            8.500
<PER-SHARE-NII>                                  0.016
<PER-SHARE-GAIN-APPREC>                        (0.458)
<PER-SHARE-DIVIDEND>                             0.008
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              8.050
<EXPENSE-RATIO>                                   0.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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