# EDGAR Filing Document

**Accession Number:** 0001423227
**File Stem:** 0000940400-26-008452
**Filing Date:** 2026-2
**Character Count:** 68514
**Document Hash:** 3f5b9152dab07e76a55e7781f9559d6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-008452.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000940400-26-008452

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Strategy Trust
- **CENTRAL INDEX KEY:** 0001423227

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22167
- **FILM NUMBER:** 26684523

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STEET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 800-243-1574

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL PLAZA
- **STREET 2:** 26TH FLOOR
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allianz Funds Multi-Strategy Trust
- **DATE OF NAME CHANGE:** 20080109

## Series and Classes Contracts Data

### Virtus International Small-Cap Fund (Series ID: S000028361)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000086672 | Class A             | AOPAX           |
| C000086673 | Class C             | AOPCX           |
| C000086675 | Institutional Class | ALOIX           |
| C000165874 | Class R6            | AIISX           |

## Nport-Ex

**VIRTUS International Small-Cap Fund**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**December 31, 2025**

($ reported in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Preferred Stocks—2.2%** | **Preferred Stocks—2.2%** | **Preferred Stocks—2.2%** |
| **Chile—1.5%** | **Chile—1.5%** |  |
| &nbsp;&nbsp;&nbsp; Embotelladora Andina S.A., <br> 5.060%<br>| 184463 | &nbsp;&nbsp; $864 |
| **Colombia—0.7%** | **Colombia—0.7%** |  |
| Grupo Cibest S.A., 7.160% | 25275 | &nbsp;&nbsp; 400 |
| **Total Preferred Stocks** <br>**(Identified Cost $836)** | **Total Preferred Stocks** <br>**(Identified Cost $836)** | &nbsp;&nbsp; **1264** |
| **Common Stocks—94.4%** | **Common Stocks—94.4%** | **Common Stocks—94.4%** |
| **Australia—2.2%** | **Australia—2.2%** |  |
| Deterra Royalties Ltd. | 92569 | &nbsp;&nbsp; 252 |
| JB Hi-Fi Ltd. | 6267 | &nbsp;&nbsp; 402 |
| Ramelius Resources Ltd. | 200651 | &nbsp;&nbsp; 557 |
|  |  | &nbsp;&nbsp; 1211 |
| **Austria—0.4%** | **Austria—0.4%** |  |
| BAWAG Group AG<sup>(1)</sup> <br>| 1654 | &nbsp;&nbsp; 251 |
| **Belgium—0.7%** | **Belgium—0.7%** |  |
| Proximus SADP | 22041 | &nbsp;&nbsp; 183 |
| Viohalco S.A. | 14027 | &nbsp;&nbsp; 196 |
|  |  | &nbsp;&nbsp; 379 |
| **Bermuda—0.4%** | **Bermuda—0.4%** |  |
| First Pacific Co., Ltd. | 322000 | &nbsp;&nbsp; 247 |
| **Brazil—1.8%** | **Brazil—1.8%** |  |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento de <br> Minas Gerais Copasa MG<br>| 90000 | &nbsp;&nbsp; 722 |
| &nbsp;&nbsp;&nbsp; Cury Construtora e <br> Incorporadora S.A.<br>| 50700 | &nbsp;&nbsp; 298 |
|  |  | &nbsp;&nbsp; 1020 |
| **Canada—6.1%** | **Canada—6.1%** |  |
| Centerra Gold, Inc. | 51586 | &nbsp;&nbsp; 743 |
| &nbsp;&nbsp;&nbsp; Chemtrade Logistics <br> Income Fund<br>| 28518 | &nbsp;&nbsp; 306 |
| Finning International, Inc. | 6550 | &nbsp;&nbsp; 355 |
| iA Financial Corp., Inc. | 4895 | &nbsp;&nbsp; 634 |
| Parex Resources, Inc. | 38288 | &nbsp;&nbsp; 515 |
| SSR Mining, Inc.<sup>(1)</sup> <br>| 17847 | &nbsp;&nbsp; 391 |
| &nbsp;&nbsp;&nbsp; Transcontinental, Inc. <br> Class A<br>| 30021 | &nbsp;&nbsp; 497 |
|  |  | &nbsp;&nbsp; 3441 |
| **Cayman Islands—3.2%** | **Cayman Islands—3.2%** |  |
| &nbsp;&nbsp;&nbsp; Consun Pharmaceutical <br> Group Ltd.<br>| 162000 | &nbsp;&nbsp; 326 |
| Fufeng Group Ltd. | 207000 | &nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp; SITC International Holdings <br> Co., Ltd.<br>| 313000 | &nbsp;&nbsp; 1120 |
| &nbsp;&nbsp;&nbsp; United Laboratories <br> International Holdings <br> Ltd. (The)<br>| 94000 | &nbsp;&nbsp; 140 |
|  |  | &nbsp;&nbsp; 1796 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **China—3.6%** | **China—3.6%** |  |
| &nbsp;&nbsp;&nbsp; VTech Holdings Ltd. (Hong <br> Kong)<br>| 95200 | &nbsp;&nbsp; $750 |
| &nbsp;&nbsp;&nbsp; Weibo Corp. Sponsored <br> ADR<br>| 30390 | &nbsp;&nbsp; 311 |
| &nbsp;&nbsp;&nbsp; Zhejiang NHU Co., Ltd. <br> Class A<br>| 275300 | &nbsp;&nbsp; 992 |
|  |  | &nbsp;&nbsp; 2053 |
| **Denmark—0.6%** | **Denmark—0.6%** |  |
| Alm. Brand A/S | 118101 | &nbsp;&nbsp; 351 |
| **Germany—1.6%** | **Germany—1.6%** |  |
| Friedrich Vorwerk Group SE | 1673 | &nbsp;&nbsp; 160 |
| Nagarro SE | 1958 | &nbsp;&nbsp; 176 |
| Talanx AG | 4077 | &nbsp;&nbsp; 545 |
|  |  | &nbsp;&nbsp; 881 |
| **Greece—1.3%** | **Greece—1.3%** |  |
| &nbsp;&nbsp;&nbsp; HELLENiQ ENERGY <br> Holdings S.A.<br>| 24526 | &nbsp;&nbsp; 241 |
| National Bank of Greece S.A. | 30796 | &nbsp;&nbsp; 470 |
|  |  | &nbsp;&nbsp; 711 |
| **Hungary—1.3%** | **Hungary—1.3%** |  |
| &nbsp;&nbsp;&nbsp; Magyar Telekom <br> Telecommunications plc <br> ADR<br>| 75242 | &nbsp;&nbsp; 413 |
| Richter Gedeon Nyrt | 10649 | &nbsp;&nbsp; 321 |
|  |  | &nbsp;&nbsp; 734 |
| **India—5.0%** | **India—5.0%** |  |
| &nbsp;&nbsp;&nbsp; Chambal Fertilisers & <br> Chemicals Ltd.<br>| 79123 | &nbsp;&nbsp; 424 |
| GE Vernova T&D India Ltd. | 5517 | &nbsp;&nbsp; 192 |
| Gillette India Ltd. | 2198 | &nbsp;&nbsp; 205 |
| Jio Financial Services Ltd. | 45412 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; National Aluminium Co., <br> Ltd.<br>| 371830 | &nbsp;&nbsp; 1300 |
| &nbsp;&nbsp;&nbsp; UTI Asset Management Co., <br> Ltd.<br>| 15003 | &nbsp;&nbsp; 189 |
| Vedanta Ltd. | 55801 | &nbsp;&nbsp; 375 |
|  |  | &nbsp;&nbsp; 2834 |
| **Indonesia—0.7%** | **Indonesia—0.7%** |  |
| Aneka Tambang Tbk | 1178100 | &nbsp;&nbsp; 223 |
| United Tractors Tbk PT | 103500 | &nbsp;&nbsp; 183 |
|  |  | &nbsp;&nbsp; 406 |
| **Israel—0.8%** | **Israel—0.8%** |  |
| Camtek Ltd.<sup>(1)</sup> <br>| 2323 | &nbsp;&nbsp; 247 |
| Phoenix Financial Ltd. | 4596 | &nbsp;&nbsp; 190 |
|  |  | &nbsp;&nbsp; 437 |
| **Italy—5.5%** | **Italy—5.5%** |  |
| A2A SpA | 328576 | &nbsp;&nbsp; 892 |
| Banca Mediolanum SpA | 49824 | &nbsp;&nbsp; 1140 |
| Hera SpA | 131430 | &nbsp;&nbsp; 621 |
| Italgas SpA | 19248 | &nbsp;&nbsp; 215 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Italy—continued** | **Italy—continued** |  |
| Webuild SpA | 57547 | &nbsp;&nbsp; $232 |
|  |  | &nbsp;&nbsp; 3100 |
| **Japan—23.9%** | **Japan—23.9%** |  |
| 77 Bank Ltd. (The) | 10000 | &nbsp;&nbsp; 481 |
| DTS Corp. | 34800 | &nbsp;&nbsp; 273 |
| Hanwa Co., Ltd. | 15400 | &nbsp;&nbsp; 705 |
| Idemitsu Kosan Co., Ltd. | 110900 | &nbsp;&nbsp; 838 |
| &nbsp;&nbsp;&nbsp; Japan Petroleum <br> Exploration Co., Ltd.<br>| 33500 | &nbsp;&nbsp; 336 |
| Kanamoto Co., Ltd. | 18200 | &nbsp;&nbsp; 455 |
| Kanematsu Corp. | 29000 | &nbsp;&nbsp; 333 |
| Kawada Technologies, Inc. | 10100 | &nbsp;&nbsp; 282 |
| Koa Corp. | 42200 | &nbsp;&nbsp; 370 |
| Kumagai Gumi Co., Ltd. | 76100 | &nbsp;&nbsp; 751 |
| MCJ Co., Ltd. | 15800 | &nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; NIPPON REIT Investment <br> Corp.<br>| 249 | &nbsp;&nbsp; 157 |
| Onward Holdings Co., Ltd. | 62500 | &nbsp;&nbsp; 293 |
| &nbsp;&nbsp;&nbsp; Osaka Organic Chemical <br> Industry Ltd.<br>| 26100 | &nbsp;&nbsp; 666 |
| Raito Kogyo Co., Ltd. | 10400 | &nbsp;&nbsp; 225 |
| Seiko Group Corp. | 14100 | &nbsp;&nbsp; 655 |
| &nbsp;&nbsp;&nbsp; Shibaura Mechatronics <br> Corp.<br>| 6400 | &nbsp;&nbsp; 774 |
| Shimizu Corp. | 20700 | &nbsp;&nbsp; 353 |
| Starts Corp., Inc. | 10000 | &nbsp;&nbsp; 305 |
| Systena Corp. | 266700 | &nbsp;&nbsp; 875 |
| Toa Corp. | 28800 | &nbsp;&nbsp; 520 |
| Tokyu Construction Co., Ltd. | 19800 | &nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp; Toyo Seikan Group Holdings <br> Ltd.<br>| 5300 | &nbsp;&nbsp; 129 |
| Toyo Tire Corp. | 41400 | &nbsp;&nbsp; 1146 |
| Toyobo Co., Ltd. | 58900 | &nbsp;&nbsp; 474 |
| Toyota Boshoku Corp. | 13200 | &nbsp;&nbsp; 212 |
| TRE Holdings Corp. | 81600 | &nbsp;&nbsp; 838 |
| TV Asahi Holdings Corp. | 16700 | &nbsp;&nbsp; 355 |
| Uchida Yoko Co., Ltd. | 2200 | &nbsp;&nbsp; 151 |
| YAMABIKO Corp. | 8100 | &nbsp;&nbsp; 154 |
|  |  | &nbsp;&nbsp; 13434 |
| **Netherlands—0.8%** | **Netherlands—0.8%** |  |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank N.V. CVA <br> GDR<br>| 7855 | &nbsp;&nbsp; 275 |
| Van Lanschot Kempen N.V. | 2724 | &nbsp;&nbsp; 169 |
|  |  | &nbsp;&nbsp; 444 |
| **Norway—0.8%** | **Norway—0.8%** |  |
| Storebrand ASA | 26267 | &nbsp;&nbsp; 450 |
| **Panama—0.3%** | **Panama—0.3%** |  |
| &nbsp;&nbsp;&nbsp; Banco Latinoamericano de <br> Comercio Exterior S.A. <br> Class E<br>| 3756 | &nbsp;&nbsp; 168 |
| **Singapore—3.0%** | **Singapore—3.0%** |  |
| First Resources Ltd. | 159100 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Singapore Technologies <br> Engineering Ltd.<br>| 63400 | &nbsp;&nbsp; 415 |

---

See Notes to Schedule of Investments

------

**VIRTUS International Small-Cap Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**December 31, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Singapore—continued** | **Singapore—continued** |  |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding <br> Holdings Ltd.<br>| 366100 | &nbsp;&nbsp; $991 |
|  |  | &nbsp;&nbsp; 1665 |
| **South Africa—3.7%** | **South Africa—3.7%** |  |
| AVI Ltd. | 101817 | &nbsp;&nbsp; 649 |
| Nedbank Group Ltd. | 14247 | &nbsp;&nbsp; 229 |
| Resilient REIT Ltd. | 73398 | &nbsp;&nbsp; 354 |
| Santam Ltd. | 15446 | &nbsp;&nbsp; 399 |
| Telkom S.A. SOC Ltd. | 49176 | &nbsp;&nbsp; 175 |
| Tiger Brands Ltd. | 11846 | &nbsp;&nbsp; 262 |
|  |  | &nbsp;&nbsp; 2068 |
| **South Korea—3.6%** | **South Korea—3.6%** |  |
| GS Retail Co., Ltd. | 27612 | &nbsp;&nbsp; 385 |
| HD Hyundai Co., Ltd. | 6430 | &nbsp;&nbsp; 841 |
| Hyosung Corp. | 3161 | &nbsp;&nbsp; 252 |
| JB Financial Group Co., Ltd. | 7548 | &nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; NH Investment & Securities <br> Co., Ltd.<br>| 8637 | &nbsp;&nbsp; 127 |
| TES Co., Ltd. | 9283 | &nbsp;&nbsp; 287 |
|  |  | &nbsp;&nbsp; 2026 |
| **Spain—2.1%** | **Spain—2.1%** |  |
| Bankinter S.A. | 52051 | &nbsp;&nbsp; 866 |
| Logista Integral S.A. | 9566 | &nbsp;&nbsp; 338 |
|  |  | &nbsp;&nbsp; 1204 |
| **Sweden—3.8%** | **Sweden—3.8%** |  |
| Ambea AB | 54612 | &nbsp;&nbsp; 838 |
| Betsson AB Class B | 15303 | &nbsp;&nbsp; 246 |
| Clas Ohlson AB Class B | 19414 | &nbsp;&nbsp; 640 |
| NCC AB Class B | 18372 | &nbsp;&nbsp; 439 |
|  |  | &nbsp;&nbsp; 2163 |
| **Switzerland—2.7%** | **Switzerland—2.7%** |  |
| Coca-Cola HBC AG<sup>(1)</sup> <br>| 18778 | &nbsp;&nbsp; 972 |
| &nbsp;&nbsp;&nbsp; Kardex Holding AG <br> Registered Shares<br>| 387 | &nbsp;&nbsp; 135 |
| &nbsp;&nbsp;&nbsp; Swissquote Group Holding <br> S.A. Registered Shares<br>| 291 | &nbsp;&nbsp; 179 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Switzerland—continued** | **Switzerland—continued** |  |
| Zehnder Group AG | 2060 | &nbsp;&nbsp; $213 |
|  |  | &nbsp;&nbsp; 1499 |
| **Taiwan—3.7%** | **Taiwan—3.7%** |  |
| &nbsp;&nbsp;&nbsp; Asia Vital Components Co., <br> Ltd.<br>| 6000 | &nbsp;&nbsp; 288 |
| ASPEED Technology, Inc. | 2000 | &nbsp;&nbsp; 462 |
| ASROCK, Inc. | 22000 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Brillian Network & <br> Automation Integrated <br> System Co., Ltd.<br>| 19000 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Global Mixed Mode <br> Technology, Inc.<br>| 25000 | &nbsp;&nbsp; 167 |
| Posiflex Technology, Inc. | 40000 | &nbsp;&nbsp; 225 |
| &nbsp;&nbsp;&nbsp; Taichung Commercial Bank <br> Co., Ltd.<br>| 379234 | &nbsp;&nbsp; 251 |
| Wiwynn Corp. | 2000 | &nbsp;&nbsp; 286 |
|  |  | &nbsp;&nbsp; 2084 |
| **United Arab Emirates—1.0%** | **United Arab Emirates—1.0%** |  |
| Parkin Co. PJSC | 349786 | &nbsp;&nbsp; 542 |
| **United Kingdom—9.3%** | **United Kingdom—9.3%** |  |
| Central Asia Metals plc | 64391 | &nbsp;&nbsp; 163 |
| Drax Group plc | 115788 | &nbsp;&nbsp; 1306 |
| Firstgroup plc | 120530 | &nbsp;&nbsp; 310 |
| Investec plc | 30442 | &nbsp;&nbsp; 226 |
| Keller Group plc | 23209 | &nbsp;&nbsp; 521 |
| Lion Finance Group plc | 9502 | &nbsp;&nbsp; 1191 |
| Mears Group plc | 101522 | &nbsp;&nbsp; 490 |
| Mitie Group plc | 296005 | &nbsp;&nbsp; 664 |
| MONY Group plc | 88306 | &nbsp;&nbsp; 219 |
| OSB Group plc | 20319 | &nbsp;&nbsp; 175 |
|  |  | &nbsp;&nbsp; 5265 |
| **United States—0.5%** | **United States—0.5%** |  |
| Knowles Corp.<sup>(1)</sup> <br>| 13709 | &nbsp;&nbsp; 294 |
| **Total Common Stocks** <br>**(Identified Cost $39,186)** | **Total Common Stocks** <br>**(Identified Cost $39,186)** | &nbsp;&nbsp; **53158** |
| **Total Long-Term** <br> **Investments—96.6%** <br>**(Identified Cost $40,022)** | **Total Long-Term** <br> **Investments—96.6%** <br>**(Identified Cost $40,022)** | &nbsp;&nbsp; **54422** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment—0.6%** | **Short-Term Investment—0.6%** | **Short-Term Investment—0.6%** |
| **Money Market Mutual Fund—0.6%** | **Money Market Mutual Fund—0.6%** | **Money Market Mutual Fund—0.6%** |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity <br> FedFund - Institutional <br> Shares (seven-day <br> effective yield 3.652%)<sup>(2)</sup> <br>| 322504 | &nbsp;&nbsp; $323 |
| **Total Short-Term Investment** <br>**(Identified Cost $323)** | **Total Short-Term Investment** <br>**(Identified Cost $323)** | &nbsp;&nbsp; **323** |
| **TOTAL INVESTMENTS—97.2%** <br>**(Identified Cost $40,345)** | **TOTAL INVESTMENTS—97.2%** <br>**(Identified Cost $40,345)** | &nbsp;&nbsp; **$54745** |
| Other assets and liabilities, net—2.8% | Other assets and liabilities, net—2.8% | &nbsp;&nbsp; 1561 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp; **$56306** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| GS | Goldman Sachs & Co.  |
| PJSC | Public Joint Stock Company |
| plc | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Non-income producing. |
| <sup>(2)</sup> <br>| Shares of this fund are publicly offered, and its <br> prospectus and annual report are publicly available.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Weightings**<sup>†</sup>  | **Country Weightings**<sup>†</sup>  |
| Japan | 24<br> %<br>|
| United Kingdom | 10 |
| Canada | 6 |
| Italy | 6 |
| India | 5 |
| Sweden | 4 |
| Taiwan | 4 |
| Other | 41 |
| Total | 100<br> %<br>|
| <sup>†</sup> % of total investments as of December 31, 2025. | <sup>†</sup> % of total investments as of December 31, 2025. |

---

See Notes to Schedule of Investments

------

**VIRTUS International Small-Cap Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**December 31, 2025**

($ reported in thousands)

The following table summarizes the value of the Fund's investments as of December 31, 2025, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

---

| | | |
|:---|:---|:---|
|  | Total <br>Value at <br>December 31, 2025<br>| Level 1 <br>Quoted Prices<br>|
| Assets: |  |  |
| Equity Securities: |  |  |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1264 |
| &nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53158 |
| Money Market Mutual Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $54745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $54745 |

---

There were no securities valued using significant observable inputs (Level 2) or significant unobservable inputs (Level 3) at December 31, 2025.

There were no transfers into or out of Level 3 related to securities held at December 31, 2025.

See Notes to Schedule of Investments

------

**VIRTUS International Small-Cap Fund**

**NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)**

**December 31, 2025**

**Note 1. Security Valuation**

The Fund's Board of Trustees has designated the investment adviser as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940. The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Fund's policy is to recognize transfers into or out of Level 3 at the end of the reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – quoted prices in active markets for identical securities (security types generally include listed equities).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – prices determined using significant unobservable inputs (including the investment adviser's Valuation Committee's own assumptions in determining the fair value of investments).

A description of the valuation techniques applied to the Fund's major categories of assets and liabilities measured at fair value on a recurring basis is as follows:

Equity securities are valued at the official closing price (typically last sale) on the exchange on which the securities are primarily traded or, if no closing price is available, at the last bid price and are categorized as Level 1 in the hierarchy. Illiquid, restricted equity securities and illiquid private placements are internally fair valued by the investment adviser's Valuation Committee, and are generally categorized as Level 3 in the hierarchy.

Certain non-U.S. securities may be fair valued in cases where closing prices are not readily available or are deemed not reflective of readily available market prices. For example, significant events (such as movement in the U.S. securities market, or other regional and local developments) may occur between the time that non-U.S. markets close (where the security is principally traded) and the time that the Fund calculates its net asset value ("NAV") at the close of regular trading on the New York Stock Exchange ("NYSE") (generally 4 p.m. Eastern time) that may impact the value of securities traded in these non-U.S. markets. In such cases, the Fund fair values non-U.S. securities using an independent pricing service which considers the correlation of the trading patterns of the non-U.S. security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, Exchange-Traded Funds ("ETFs"), and certain indexes, as well as prices for similar securities. Such fair valuations are categorized as Level 2 in the hierarchy. Because the frequency of significant events is not predictable, fair valuation of certain non-U.S. common stocks may occur on a frequent basis.

Debt instruments, including convertible bonds, restricted securities, and leveraged loans are valued based on either evaluated or composite quotations received from independent pricing services or from dealers who make markets in such securities. For most bond types, the pricing service utilizes matrix pricing that considers one or more of the following factors: yield or price of bonds of comparable quality, coupon, maturity, current cash flows, type, activity of the underlying equities, and current day trade information, as well as dealer supplied prices. These valuations are generally categorized as Level 2 in the hierarchy. Structured debt instruments, such as mortgage-backed and asset-backed securities may also incorporate collateral analysis and utilize cash flow models for valuation and are generally categorized as Level 2 in the hierarchy. Pricing services do not provide pricing for all securities and therefore indicative bids from dealers are utilized which are based on pricing models used by market makers in the security and are generally categorized as Level 2 in the hierarchy. Debt instruments that are internally fair valued by the investment adviser's Valuation Committee are generally categorized as Level 3 in the hierarchy.

Listed derivatives, such as options and futures, that are actively traded are valued at the last posted settlement price from the exchange where they are principally traded and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, swaps, swaptions, options and equity-linked instruments, are valued based on model prices provided by independent pricing services or from dealer quotes. Depending on the derivative type and the specific terms of the transaction, these models vary and include observable inputs in actively quoted markets including but not limited to: underlying reference entity details, indices, spreads, interest rates, yield curves, dividend and exchange rates. These instruments are generally categorized as Level 2 in the hierarchy. Centrally cleared swaps listed or traded on a bilateral or trade facility platform, such as a registered exchange, are valued at the last posted settlement price determined by the respective exchange. These securities are generally categorized as Level 2 within the hierarchy.

Investments in open-end mutual funds are valued at NAV. Investments in closed-end funds and ETFs are valued as of the close of regular trading on the NYSE each business day. Each is categorized as Level 1 in the hierarchy.

A summary of the inputs used to value the Fund's net assets by each major security type is disclosed at the end of the Schedule of Investments for the

Fund. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

*For additional information about significant accounting policies, refer to the Fund's most recent semi or annual financial statements.*

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Virtus Strategy Trust

- **b. Investment Company Act file number:** 811-22167

- **c. CIK number of Registrant:** 0001423227

- **d. LEI of Registrant:** 549300PO6JSVIR6RII57

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 101 MUNSON STREET

  - **City:** GREENFIELD

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01301-9668

  - **Telephone number:** 800-243-1574

**Item A.2. Information about the Series.**

- **a. Name of Series:** Virtus International Small-Cap Fund

- **b. EDGAR series identifier (if any):** S000028361

- **c. LEI of Series:** 5493008LAX4C6210YR24

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $56354796.48

**Total Liabilities:** $47535.25

**Net Assets:** $56307261.23

**Cash Not Reported:** $1346371.10

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000086672 | 0.82%                | 1.77%                | 2.90%                |
| Class ID C000086673 | 0.76%                | 1.72%                | 2.82%                |
| Class ID C000086675 | 0.83%                | 1.79%                | 2.92%                |
| Class ID C000165874 | 0.82%                | 1.81%                | 2.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $684871.50               | $-236899.10                                |
| Month 2  | $389192.70               | $499663.79                                 |
| Month 3  | $589563.26               | $928477.73                                 |

### Schedule of Portfolio Investments

| Name                           | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Swissquote Group Holding SA    | Swissquote Group Holding SA                            | CUSIP: 000000000<br>LEI: 549300O3WME82RDPEN66 | Long             | EC               | CORP              | CH        |       291 | NS      | $178913.02    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcontinental Inc           | Transcontinental Inc                                   | CUSIP: 893578104<br>LEI: 549300C86G4JLR01YF53 | Long             | EC               | CORP              | CA        |     30021 | NS      | $496941.55    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanamoto Co Ltd                | Kanamoto Co Ltd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     18200 | NS      | $454883.81    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Nagarro SE                     | Nagarro SE                                             | CUSIP: 000000000<br>LEI: 9845008396BA67DA9B37 | Long             | EC               | CORP              | DE        |      1958 | NS      | $175454.42    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| United Tractors Tbk PT         | United Tractors Tbk PT                                 | CUSIP: 000000000<br>LEI: 529900N9ELYOWQV4FW14 | Long             | EC               | CORP              | ID        |    103500 | NS      | $183103.45    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TRE Holdings Corp              | TRE Holdings Corp                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     81600 | NS      | $838192.03    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Fufeng Group Ltd               | Fufeng Group Ltd                                       | CUSIP: 000000000<br>LEI: 549300OQ91X6COVM4483 | Long             | EC               | CORP              | CN        |    207000 | NS      | $209587.93    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Uchida Yoko Co Ltd             | Uchida Yoko Co Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2200 | NS      | $150702.25    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Koa Corp                       | Koa Corp                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     42200 | NS      | $369627.17    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| First Pacific Co Ltd           | First Pacific Co Ltd                                   | CUSIP: 000000000<br>LEI: 254900VS1MDQSDM9DE09 | Long             | EC               | CORP              | HK        |    322000 | NS      | $246587.95    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Proximus SADP                  | Proximus SADP                                          | CUSIP: 000000000<br>LEI: 549300CWRXC5EP004533 | Long             | EC               | CORP              | BE        |     22041 | NS      | $183260.78    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Clas Ohlson AB                 | Clas Ohlson AB                                         | CUSIP: 000000000<br>LEI: 549300MH8OETHBBKJU80 | Long             | EC               | CORP              | SE        |     19414 | NS      | $639787.93    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Webuild SpA                    | Webuild SpA                                            | CUSIP: 000000000<br>LEI: 549300UKR289DF4UXQ47 | Long             | EC               | CORP              | IT        |     57547 | NS      | $231427.24    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ramelius Resources Ltd         | Ramelius Resources Ltd                                 | CUSIP: 000000000<br>LEI: 254900E44AIGW7KKNR98 | Long             | EC               | CORP              | AU        |    200651 | NS      | $557042.49    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambea AB                       | Ambea AB                                               | CUSIP: 000000000<br>LEI: 549300AEVNZRHYI5HV24 | Long             | EC               | CORP              | SE        |     54612 | NS      | $838176.90    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Cibest SA                | Grupo Cibest SA                                        | CUSIP: 000000000<br>LEI: 529900OSSJBGZREZ2C28 | Long             | EP               | CORP              | CO        |     25275 | NS      | $400238.91    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Embotelladora Andina SA        | Embotelladora Andina SA                                | CUSIP: 000000000<br>LEI: 254900NNPKP1J9XTSA53 | Long             | EP               | CORP              | CL        |    184463 | NS      | $864120.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Toa Corp/Tokyo                 | Toa Corp/Tokyo                                         | CUSIP: 000000000<br>LEI: 353800AT816JCLZ5WD63 | Long             | EC               | CORP              | JP        |     28800 | NS      | $520510.73    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Greece SA     | National Bank of Greece SA                             | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |     30796 | NS      | $470488.97    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Viohalco SA                    | Viohalco SA                                            | CUSIP: 000000000<br>LEI: 549300U0BOLVY36TGJ31 | Long             | EC               | CORP              | BE        |     14027 | NS      | $196165.91    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Nedbank Group Ltd              | Nedbank Group Ltd                                      | CUSIP: 000000000<br>LEI: 3789009E42FA3CB31065 | Long             | EC               | CORP              | ZA        |     14247 | NS      | $229070.42    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Finning International Inc      | Finning International Inc                              | CUSIP: 318071404<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |      6550 | NS      | $354904.01    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Bladex                         | Banco Latinoamericano de Comercio Exterior SA          | CUSIP: 000000000<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |      3756 | NS      | $167517.60    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| DTS Corp                       | DTS Corp                                               | CUSIP: 000000000<br>LEI: 529900WBOTPBINBCF151 | Long             | EC               | CORP              | JP        |     34800 | NS      | $273041.37    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| UTI Asset Management Co Ltd    | UTI Asset Management Co Ltd                            | CUSIP: 000000000<br>LEI: 335800IDIB9I5HRFZP97 | Long             | EC               | CORP              | IN        |     15003 | NS      | $188540.29    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Onward Holdings Co Ltd         | Onward Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     62500 | NS      | $293268.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund                            | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    288590 | NS      | $288590.11    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Friedrich Vorwerk Group SE     | Friedrich Vorwerk Group SE                             | CUSIP: 000000000<br>LEI: 529900NBM89YAM5ENI18 | Long             | EC               | CORP              | DE        |      1673 | NS      | $160434.54    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Starts Corp Inc                | Starts Corp Inc                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10000 | NS      | $305477.53    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkin Co PJSC                 | Parkin Co PJSC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    349786 | NS      | $541905.20    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimizu Corp                   | Shimizu Corp                                           | CUSIP: 000000000<br>LEI: 353800BRAE0QFP3ZLY22 | Long             | EC               | CORP              | JP        |     20700 | NS      | $352642.68    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhejiang NHU Co Ltd            | Zhejiang NHU Co Ltd                                    | CUSIP: 000000000<br>LEI: 655600NJSJADB39G3P54 | Long             | EC               | CORP              | CN        |    275300 | NS      | $992366.65    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| HELLENiQ ENERGY Holdings S.A.  | HELLENiQ ENERGY Holdings S.A.                          | CUSIP: 000000000<br>LEI: 213800YUBJMZYR1SNG35 | Long             | EC               | CORP              | GR        |     24526 | NS      | $240959.91    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSUN PHARMA                  | Consun Pharmaceutical Group Ltd                        | CUSIP: 000000000<br>LEI: 300300LQFLNDZZHCNN43 | Long             | EC               | CORP              | CN        |    162000 | NS      | $325552.83    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Seikan Group Holdings Ltd | Toyo Seikan Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 5299004VWXGQPXR05T33 | Long             | EC               | CORP              | JP        |      5300 | NS      | $129454.80    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Brillian Network & Automation  | Brillian Network & Automation Integrated System Co Ltd | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     19000 | NS      | $230995.69    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Deterra Royalties Ltd          | Deterra Royalties Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     92569 | NS      | $251428.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Investec PLC                   | Investec PLC                                           | CUSIP: 000000000<br>LEI: 2138007Z3U5GWDN3MY22 | Long             | EC               | CORP              | ZA        |     30442 | NS      | $226304.13    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiger Brands Ltd               | Tiger Brands Ltd                                       | CUSIP: 000000000<br>LEI: 529900C57HAFZAHHBC90 | Long             | EC               | CORP              | ZA        |     11846 | NS      | $261942.53    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Raito Kogyo Co Ltd             | Raito Kogyo Co Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10400 | NS      | $224744.64    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Shibaura Mechatronics Corp     | Shibaura Mechatronics Corp                             | CUSIP: 000000000<br>LEI: 529900K56IZ9LT5WLM42 | Long             | EC               | CORP              | JP        |      6400 | NS      | $773850.87    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| NH Investment & Securities Co  | NH Investment & Securities Co Ltd                      | CUSIP: 000000000<br>LEI: 549300LQ6NXDW1B8NT42 | Long             | EC               | CORP              | KR        |      8637 | NS      | $126507.72    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Richter Gedeon Nyrt            | Richter Gedeon Nyrt                                    | CUSIP: 000000000<br>LEI: 549300J6ZJW5IH4WEE46 | Long             | EC               | CORP              | HU        |     10649 | NS      | $321232.19    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Drax Group PLC                 | Drax Group PLC                                         | CUSIP: 000000000<br>LEI: 549300YPSNTXR4ZHSR98 | Long             | EC               | CORP              | GB        |    115788 | NS      | $1306359.76   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mears Group PLC                | Mears Group PLC                                        | CUSIP: 000000000<br>LEI: 213800DHCALLH8IRJV57 | Long             | EC               | CORP              | GB        |    101522 | NS      | $489910.76    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Gillette India Ltd             | Gillette India Ltd                                     | CUSIP: 000000000<br>LEI: 3358002S2XZDSQKDGX30 | Long             | EC               | CORP              | IN        |      2198 | NS      | $204504.87    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Telkom SA SOC Ltd              | Telkom SA SOC Ltd                                      | CUSIP: 000000000<br>LEI: 529900GES0BUVJEDKF90 | Long             | EC               | CORP              | ZA        |     49176 | NS      | $175234.04    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Construction Co Ltd      | Tokyu Construction Co Ltd                              | CUSIP: 000000000<br>LEI: 529900AF5X5AZCMDF192 | Long             | EC               | CORP              | JP        |     19800 | NS      | $165463.48    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Phoenix Financial Ltd          | Phoenix Financial Ltd                                  | CUSIP: 000000000<br>LEI: 254900IUA68QTCFYHE30 | Long             | EC               | CORP              | IL        |      4596 | NS      | $190216.14    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AVI Ltd                        | AVI Ltd                                                | CUSIP: 000000000<br>LEI: 378900C2D68805FAAF75 | Long             | EC               | CORP              | ZA        |    101817 | NS      | $648652.99    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NCC AB                         | NCC AB                                                 | CUSIP: 000000000<br>LEI: 213800WRGLW3CY4MHW53 | Long             | EC               | CORP              | SE        |     18372 | NS      | $439419.37    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Kumagai Gumi Co Ltd            | Kumagai Gumi Co Ltd                                    | CUSIP: 000000000<br>LEI: 529900M993KYZI2Q1Q47 | Long             | EC               | CORP              | JP        |     76100 | NS      | $750603.29    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Jio Financial Services Ltd     | Jio Financial Services Ltd                             | CUSIP: 000000000<br>LEI: 3358003O268Q1OGBQR42 | Long             | EC               | CORP              | IN        |     45412 | NS      | $149024.91    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BAWAG Group AG                 | BAWAG Group AG                                         | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |      1654 | NS      | $250747.72    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemtrade Logistics Income Fun | Chemtrade Logistics Income Fund                        | CUSIP: 16387P103<br>LEI: 254900UOUPEC6HRUR935 | Long             | EC               | CORP              | CA        |     28518 | NS      | $306466.43    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| A2A SpA                        | A2A SpA                                                | CUSIP: 000000000<br>LEI: 81560076E3944316DB24 | Long             | EC               | CORP              | IT        |    328576 | NS      | $891989.21    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Seiko Group Corp               | Seiko Group Corp                                       | CUSIP: 000000000<br>LEI: 529900UXKCNCMYX20S74 | Long             | EC               | CORP              | JP        |     14100 | NS      | $655311.54    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova T&D India Ltd       | GE Vernova T&D India Ltd                               | CUSIP: 000000000<br>LEI: 549300NMRD6VZDFLN355 | Long             | EC               | CORP              | IN        |      5517 | NS      | $192279.91    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Weibo Corp                     | Weibo Corp                                             | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               | CORP              | CN        |     30390 | NS      | $310585.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Italgas SpA                    | Italgas SpA                                            | CUSIP: 000000000<br>LEI: 815600F25FF44EF1FA76 | Long             | EC               | CORP              | IT        |     19248 | NS      | $215231.67    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Mixed Mode Technology I | Global Mixed Mode Technology Inc                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     25000 | NS      | $167088.37    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Retail Co Ltd               | GS Retail Co Ltd                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     27612 | NS      | $385270.35    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| YAMABIKO Corp                  | YAMABIKO Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8100 | NS      | $153684.88    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Systena Corp                   | Systena Corp                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    266700 | NS      | $875151.94    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SITC International Holdings Co | SITC International Holdings Co Ltd                     | CUSIP: 000000000<br>LEI: 529900JUV4MOM9CE3V12 | Long             | EC               | CORP              | HK        |    313000 | NS      | $1120456.91   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Magyar Telekom Telecommunicati | Magyar Telekom Telecommunications PLC                  | CUSIP: 000000000<br>LEI: 529900CA1YDA41X76751 | Long             | EC               | CORP              | HU        |     75242 | NS      | $412298.23    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Idemitsu Kosan Co Ltd          | Idemitsu Kosan Co Ltd                                  | CUSIP: 000000000<br>LEI: 549300P0R46FF6DUA630 | Long             | EC               | CORP              | JP        |    110900 | NS      | $837555.54    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanematsu Corp                 | Kanematsu Corp                                         | CUSIP: 000000000<br>LEI: 353800N574WR0FX80I71 | Long             | EC               | CORP              | JP        |     29000 | NS      | $333063.07    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Zehnder Group AG               | Zehnder Group AG                                       | CUSIP: 000000000<br>LEI: 8945000LUWFSSFRPU761 | Long             | EC               | CORP              | CH        |      2060 | NS      | $212735.77    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Lion Finance Group PLC         | Lion Finance Group PLC                                 | CUSIP: 000000000<br>LEI: 213800XKDG12NQG8VC53 | Long             | EC               | CORP              | GB        |      9502 | NS      | $1191164.54   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VTech Holdings Ltd             | VTech Holdings Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |     95200 | NS      | $750449.07    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Banca Mediolanum SpA           | Banca Mediolanum SpA                                   | CUSIP: 000000000<br>LEI: 7LVZJ6XRIE7VNZ4UBX81 | Long             | EC               | CORP              | IT        |     49824 | NS      | $1140030.12   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Co Ltd              | HD Hyundai Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      6430 | NS      | $841383.50    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| iA Financial Corp Inc          | iA Financial Corp Inc                                  | CUSIP: 45075E104<br>LEI: 549300ZXLJVHQAIXV215 | Long             | EC               | CORP              | CA        |      4895 | NS      | $634204.84    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO Bank NV               | ABN AMRO Bank NV                                       | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | EC               | CORP              | NL        |      7855 | NS      | $274997.33    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED LAB                     | United Laboratories International Holdings Ltd/The     | CUSIP: 000000000<br>LEI: 2549007JL3XIH77JXN70 | Long             | EC               | CORP              | HK        |     94000 | NS      | $139984.84    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Chambal Fertilisers and Chemic | Chambal Fertilisers and Chemicals Ltd                  | CUSIP: 000000000<br>LEI: 335800DFMF2OEJ7HWM17 | Long             | EC               | CORP              | IN        |     79123 | NS      | $424404.24    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp                    | Wiwynn Corp                                            | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |      2000 | NS      | $285482.41    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| 77 Bank Ltd/The                | 77 Bank Ltd/The                                        | CUSIP: 000000000<br>LEI: 549300U6CT3EHB9XS980 | Long             | EC               | CORP              | JP        |     10000 | NS      | $481422.37    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Aneka Tambang Tbk              | Aneka Tambang Tbk                                      | CUSIP: 000000000<br>LEI: 529900LRE2NALSSHMB80 | Long             | EC               | CORP              | ID        |   1178100 | NS      | $222549.63    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Bankinter SA                   | Bankinter SA                                           | CUSIP: 000000000<br>LEI: VWMYAEQSTOPNV0SUGU82 | Long             | EC               | CORP              | ES        |     52051 | NS      | $865866.09    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corp                   | Knowles Corp                                           | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |     13709 | NS      | $293783.87    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG               | Coca-Cola HBC AG                                       | CUSIP: 000000000<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |     18778 | NS      | $972479.55    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwa Co Ltd                   | Hanwa Co Ltd                                           | CUSIP: 000000000<br>LEI: 8EUP1TJYZFX3T1E5AJ33 | Long             | EC               | CORP              | JP        |     15400 | NS      | $704915.73    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Resilient REIT Ltd             | Resilient REIT Ltd                                     | CUSIP: 000000000<br>LEI: 378900F37FF47D486C58 | Long             | EC               | CORP              | ZA        |     73398 | NS      | $354579.71    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Posiflex Technology Inc        | Posiflex Technology Inc                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     40000 | NS      | $225330.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KAWADA TECHNOLOGIES Inc        | KAWADA TECHNOLOGIES Inc                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10100 | NS      | $282095.89    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyosung Corp                   | Hyosung Corp                                           | CUSIP: 000000000<br>LEI: 549300I0RPK0L4R21F76 | Long             | EC               | CORP              | KR        |      3161 | NS      | $251686.30    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Storebrand ASA                 | Storebrand ASA                                         | CUSIP: 000000000<br>LEI: 5967007LIEEXZX7NA051 | Long             | EC               | CORP              | NO        |     26267 | NS      | $450030.84    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Asia Vital Components Co Ltd   | Asia Vital Components Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      6000 | NS      | $288346.78    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Financial Group Co Ltd      | JB Financial Group Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      7548 | NS      | $134397.42    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Tire Corp                 | Toyo Tire Corp                                         | CUSIP: 000000000<br>LEI: 529900Y41RD7VQM9RF75 | Long             | EC               | CORP              | JP        |     41400 | NS      | $1145741.83   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc              | Centerra Gold Inc                                      | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |     51586 | NS      | $742661.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Santam Ltd                     | Santam Ltd                                             | CUSIP: 000000000<br>LEI: 37890092DC55C7D94B35 | Long             | EC               | CORP              | ZA        |     15446 | NS      | $398695.21    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Parex Resources Inc            | Parex Resources Inc                                    | CUSIP: 69946Q104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     38288 | NS      | $514672.40    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| First Resources Ltd            | First Resources Ltd                                    | CUSIP: 000000000<br>LEI: 5493007RRD817HUP4O49 | Long             | EC               | CORP              | SG        |    159100 | NS      | $258689.12    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ST Engineering                 | Singapore Technologies Engineering Ltd                 | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |     63400 | NS      | $415301.07    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd/Israel                                      | CUSIP: 000000000<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |      2323 | NS      | $247039.44    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kardex Holding AG              | Kardex Holding AG                                      | CUSIP: 000000000<br>LEI: 529900JKKMQ07D6QZ480 | Long             | EC               | CORP              | CH        |       387 | NS      | $135090.90    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyobo Co Ltd                  | Toyobo Co Ltd                                          | CUSIP: 000000000<br>LEI: 5299005EWBCNUAZ4PM62 | Long             | EC               | CORP              | JP        |     58900 | NS      | $473787.03    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Vedanta Ltd                    | Vedanta Ltd                                            | CUSIP: 000000000<br>LEI: 335800XDKX9KB5EMCO07 | Long             | EC               | CORP              | IN        |     55801 | NS      | $375237.53    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Organic Chemical Industr | Osaka Organic Chemical Industry Ltd                    | CUSIP: 000000000<br>LEI: 353800BMJFOXMOVADX91 | Long             | EC               | CORP              | JP        |     26100 | NS      | $666496.42    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Asia Metals PLC        | Central Asia Metals PLC                                | CUSIP: 000000000<br>LEI: 213800EYQBJZIT64NH43 | Long             | EC               | CORP              | GB        |     64391 | NS      | $163176.20    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Taichung Commercial Bank Co Lt | Taichung Commercial Bank Co Ltd                        | CUSIP: 000000000<br>LEI: 549300VNYOLU68FQNE06 | Long             | EC               | CORP              | TW        |    379234 | NS      | $251048.43    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Van Lanschot Kempen NV         | Van Lanschot Kempen NV                                 | CUSIP: 000000000<br>LEI: 724500D8WOYCL1BUCB80 | Long             | EC               | CORP              | NL        |      2724 | NS      | $169345.85    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Yangzijiang Shipbuilding Holdi | Yangzijiang Shipbuilding Holdings Ltd                  | CUSIP: 000000000<br>LEI: 254900Z3JEM14YIGLM66 | Long             | EC               | CORP              | CN        |    366100 | NS      | $991152.95    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MONY Group PLC                 | MONY Group PLC                                         | CUSIP: 000000000<br>LEI: 54930016B7VO33FBE722 | Long             | EC               | CORP              | GB        |     88306 | NS      | $218780.95    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Alm Brand A/S                  | Alm Brand A/S                                          | CUSIP: 000000000<br>LEI: 549300H4TGLJVZ6VTA48 | Long             | EC               | CORP              | DK        |    118101 | NS      | $351200.73    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| National Aluminium Co Ltd      | National Aluminium Co Ltd                              | CUSIP: 000000000<br>LEI: 335800OM1V78CX7SSC72 | Long             | EC               | CORP              | IN        |    371830 | NS      | $1300255.33   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Keller Group PLC               | Keller Group PLC                                       | CUSIP: 000000000<br>LEI: 549300QO4MBL43UHSN10 | Long             | EC               | CORP              | GB        |     23209 | NS      | $521200.96    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| COPASA                         | Cia de Saneamento de Minas Gerais Copasa MG            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     90000 | NS      | $721346.78    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| OSB Group PLC                  | OSB Group PLC                                          | CUSIP: 000000000<br>LEI: 213800ZBKL9BHSL2K459 | Long             | EC               | CORP              | GB        |     20319 | NS      | $174604.85    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ASROCK Inc                     | ASROCK Inc                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     22000 | NS      | $173644.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Boshoku Corp            | Toyota Boshoku Corp                                    | CUSIP: 000000000<br>LEI: 529900KS87U6EY7PWG26 | Long             | EC               | CORP              | JP        |     13200 | NS      | $211769.66    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc          | ASPEED Technology Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2000 | NS      | $462118.68    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPEX                          | Japan Petroleum Exploration Co Ltd                     | CUSIP: 000000000<br>LEI: 549300WXUNBZ356DMN17 | Long             | EC               | CORP              | JP        |     33500 | NS      | $335769.92    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitie Group PLC                | Mitie Group PLC                                        | CUSIP: 000000000<br>LEI: 213800MTCLTKEHWZMJ03 | Long             | EC               | CORP              | GB        |    296005 | NS      | $663935.90    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TV Asahi Holdings Corp         | TV Asahi Holdings Corp                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     16700 | NS      | $355024.26    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Betsson AB                     | Betsson AB                                             | CUSIP: 000000000<br>LEI: 549300W61XW8OFGBG077 | Long             | EC               | CORP              | SE        |     15303 | NS      | $245506.23    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON REIT Investment Corp    | NIPPON REIT Investment Corp                            | CUSIP: 000000000<br>LEI: 3538004O49OJ90PEXX85 | Long             | EC               | CORP              | JP        |       249 | NS      | $157055.67    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MCJ Co Ltd                     | MCJ Co Ltd                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     15800 | NS      | $162599.59    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hera SpA                       | Hera SpA                                               | CUSIP: 000000000<br>LEI: 8156009414FD99443B48 | Long             | EC               | CORP              | IT        |    131430 | NS      | $620915.27    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hi-Fi Ltd                   | JB Hi-Fi Ltd                                           | CUSIP: 000000000<br>LEI: 529900TPC8H040Y3ZQ65 | Long             | EC               | CORP              | AU        |      6267 | NS      | $402419.22    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstgroup PLC                 | Firstgroup PLC                                         | CUSIP: 000000000<br>LEI: 549300DEJZCPWA4HKM93 | Long             | EC               | CORP              | GB        |    120530 | NS      | $309664.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TES Co Ltd/Korea               | TES Co Ltd/Korea                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9283 | NS      | $287083.16    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Logista Integral SA            | Logista Integral SA                                    | CUSIP: 000000000<br>LEI: 9598000ANNAL42UJ7X28 | Long             | EC               | CORP              | ES        |      9566 | NS      | $338607.93    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                 | SSR Mining Inc                                         | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |     17847 | NS      | $391254.40    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Talanx AG                      | Talanx AG                                              | CUSIP: 000000000<br>LEI: 5299006ZIILJ6VJVSJ32 | Long             | EC               | CORP              | DE        |      4077 | NS      | $545248.85    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Cury Construtora e Incorporado | Cury Construtora e Incorporadora SA                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     50700 | NS      | $298199.92    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** Virtus Strategy Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer