DELAWARE GROUP EQUITY FUNDS V INC
NSAR-A, 1998-07-20
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<PAGE>      PAGE  1
000 A000000 05/31/98
000 C000000 0000809821
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 V, INC.
001 B000000 811-4997
001 C000000 2152552127
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 SMALL CAP VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 RETIREMENT INCOME 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
020 A000001 ROBINSON-HUMPHREY COMPANY, INC., (THE)
020 B000001 58-1472560
020 C000001     50
020 A000002 J.P. MORGAN SECURITIES, INC.
020 B000002 13-3224016
020 C000002     35
020 A000003 BRIDGE TRADING COMPANY
020 B000003 43-1450530
020 C000003     34
020 A000004 CREDIT SUISSE FIRST BOSTON CORP.
020 B000004 13-3224016
020 C000004     27
020 A000005 BEAR, STEARNS & CO., INC.
020 B000005 13-3299429
020 C000005     24
<PAGE>      PAGE  2
020 A000006 SANFORD C. BERNSTEIN & CO., INC.
020 B000006 13-2625874
020 C000006     23
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000007 13-2741729
020 C000007     23
020 A000008 BT ALEX BROWN, INC.
020 B000008 52-1319768
020 C000008     21
020 A000009 ROYAL ALLIANCE ASSOCIATES, INC.
020 C000009     17
020 A000010 WASSERSTEIN PERELLA SECURITIES, INC.
020 B000010 13-3502273
020 C000010     11
021  000000      326
022 A000001 HERZOG HEINE GEDULD, INC.
022 B000001 13-1955436
022 C000001      8839
022 D000001         9
022 A000002 JEFFRIES & COMPANY, INC.
022 B000002 95-2622900
022 C000002         0
022 D000002      5116
022 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000003 13-2741727
022 C000003      2180
022 D000003       709
022 A000004 ROBERT W. BAIRD AND GO., INC.
022 B000004 39-6037917
022 C000004      2860
022 D000004         0
022 A000005 COWEN AND CO.
022 B000005 13-5616116
022 C000005      2546
022 D000005         0
022 A000006 BT ALEX BROWN, INC.
022 B000006 52-1319768
022 C000006      1750
022 D000006       707
022 A000007 ROBINSON-HUMPHREY COMPANY, INC. (THE)
022 B000007 58-1472560
022 C000007         0
022 D000007      2239
022 A000008 HAMBRECHT AND QUIST, LLC
022 B000008 94-3220292
022 C000008      1986
022 D000008         0
022 A000009 GOLDMAN SACHS AND CO.
022 B000009 13-5108880
022 C000009       110
022 D000009      1700
<PAGE>      PAGE  3
022 A000010 MONTGOMERY SECURITIES
022 B000010 94-1701676
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<PAGE>      PAGE  6
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SIGNATURE   DONNA D. BRYEN                               
TITLE       ASSISTANT VP        
 


<TABLE> <S> <C>


<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 011
   <NAME> SMALL CAP VALUE FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                      344,627,581
<INVESTMENTS-AT-VALUE>                     435,343,791
<RECEIVABLES>                                2,760,580
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<OTHER-ITEMS-ASSETS>                         2,602,950
<TOTAL-ASSETS>                             440,708,117
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,113,148
<TOTAL-LIABILITIES>                         20,800,258
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                        9,006,178
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<OVERDISTRIBUTION-NII>                               0
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<NET-ASSETS>                               304,102,327
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<OTHER-INCOME>                                       0
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<REALIZED-GAINS-CURRENT>                    10,030,566
<APPREC-INCREASE-CURRENT>                    3,121,798
<NET-CHANGE-FROM-OPS>                       14,865,692
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,285,317
<DISTRIBUTIONS-OF-GAINS>                    19,279,760
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<NUMBER-OF-SHARES-SOLD>                      5,034,472
<NUMBER-OF-SHARES-REDEEMED>                  4,202,226
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<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,790,512
<AVERAGE-NET-ASSETS>                       293,158,147
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<EXPENSE-RATIO>                                  1.330
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 012
   <NAME> SMALL CAP VALUE FUND B CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-END>                               MAY-31-1998
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<INVESTMENTS-AT-VALUE>                     435,343,791
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 013
   <NAME> SMALL CAP VALUE FUND C CLASS
       
<S>                             <C>
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<EXPENSE-RATIO>                                  2.030
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 014
   <NAME> SMALL CAP VALUE FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-END>                               MAY-31-1998
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<INVESTMENTS-AT-VALUE>                     435,343,791
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<SENIOR-EQUITY>                                      0
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<GROSS-EXPENSE>                              2,790,512
<AVERAGE-NET-ASSETS>                        11,880,782
<PER-SHARE-NAV-BEGIN>                           29.950
<PER-SHARE-NII>                                   .178
<PER-SHARE-GAIN-APPREC>                          1.122
<PER-SHARE-DIVIDEND>                              .220
<PER-SHARE-DISTRIBUTIONS>                        2.100
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             28.930
<EXPENSE-RATIO>                                  1.030
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 021
   <NAME> RETIREMENT INCOME FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                        2,759,500
<INVESTMENTS-AT-VALUE>                       3,001,629
<RECEIVABLES>                                   31,292
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,032,921
<PAYABLE-FOR-SECURITIES>                        15,099
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       25,938
<TOTAL-LIABILITIES>                             41,037
<SENIOR-EQUITY>                                  2,818
<PAID-IN-CAPITAL-COMMON>                     2,459,658
<SHARES-COMMON-STOCK>                            2,158
<SHARES-COMMON-PRIOR>                              742
<ACCUMULATED-NII-CURRENT>                       73,547
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        213,732
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       242,129
<NET-ASSETS>                                    22,933
<DIVIDEND-INCOME>                               42,331
<INTEREST-INCOME>                               55,344
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  10,900
<NET-INVESTMENT-INCOME>                         86,775
<REALIZED-GAINS-CURRENT>                       213,893
<APPREC-INCREASE-CURRENT>                    (105,312)
<NET-CHANGE-FROM-OPS>                          195,356
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          263
<DISTRIBUTIONS-OF-GAINS>                           553
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,933
<NUMBER-OF-SHARES-REDEEMED>                        599
<SHARES-REINVESTED>                                 82
<NET-CHANGE-IN-ASSETS>                         220,142
<ACCUMULATED-NII-PRIOR>                        121,801
<ACCUMULATED-GAINS-PRIOR>                      284,110
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            9,492
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 20,684
<AVERAGE-NET-ASSETS>                            16,286
<PER-SHARE-NAV-BEGIN>                           11.700
<PER-SHARE-NII>                                  0.315
<PER-SHARE-GAIN-APPREC>                          0.385
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                        0.570
<RETURNS-OF-CAPITAL>                             1.200
<PER-SHARE-NAV-END>                             10.630
<EXPENSE-RATIO>                                  0.750
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP EQUITY FUNDS V, INC.
<SERIES>
   <NUMBER> 022
   <NAME> RETIREMENT INCOME FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                        2,759,500
<INVESTMENTS-AT-VALUE>                       3,001,629
<RECEIVABLES>                                   31,292
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,032,921
<PAYABLE-FOR-SECURITIES>                        15,099
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       25,938
<TOTAL-LIABILITIES>                             41,037
<SENIOR-EQUITY>                                  2,818
<PAID-IN-CAPITAL-COMMON>                     2,459,658
<SHARES-COMMON-STOCK>                          279,684
<SHARES-COMMON-PRIOR>                          236,432
<ACCUMULATED-NII-CURRENT>                       73,547
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        213,732
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       242,129
<NET-ASSETS>                                 2,968,951
<DIVIDEND-INCOME>                               42,331
<INTEREST-INCOME>                               55,344
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  10,900
<NET-INVESTMENT-INCOME>                         86,775
<REALIZED-GAINS-CURRENT>                       213,893
<APPREC-INCREASE-CURRENT>                    (105,312)
<NET-CHANGE-FROM-OPS>                          195,356
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      134,766
<DISTRIBUTIONS-OF-GAINS>                       283,719
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,251
<NUMBER-OF-SHARES-REDEEMED>                        185
<SHARES-REINVESTED>                             42,186
<NET-CHANGE-IN-ASSETS>                         220,142
<ACCUMULATED-NII-PRIOR>                        121,801
<ACCUMULATED-GAINS-PRIOR>                      284,110
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            9,492
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 20,684
<AVERAGE-NET-ASSETS>                         2,904,225
<PER-SHARE-NAV-BEGIN>                           11.690
<PER-SHARE-NII>                                  0.315
<PER-SHARE-GAIN-APPREC>                          0.385
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                        0.570
<RETURNS-OF-CAPITAL>                             1.200
<PER-SHARE-NAV-END>                             10.630
<EXPENSE-RATIO>                                  0.750
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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