# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0000940400-25-009429
**Filing Date:** 2025-11
**Character Count:** 17441
**Document Hash:** a81494239fee4db8d0dc84684f59d128
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009429.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009429

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS OPPORTUNITIES TRUST
- **CENTRAL INDEX KEY:** 0001005020

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07455
- **FILM NUMBER:** 251512117

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **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:** PHOENIX OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 20060127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX SENECA FUNDS
- **DATE OF NAME CHANGE:** 19990122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SENECA FUNDS
- **DATE OF NAME CHANGE:** 19951218

## Series and Classes Contracts Data

### Virtus KAR Developing Markets Fund (Series ID: S000072168)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227964 | Class C      | VDMCX           |
| C000227965 | Class I      | VIDMX           |
| C000227966 | Class R6     | VDMRX           |
| C000227967 | Class A      | VDMAX           |

## 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 Opportunities Trust

- **b. Investment Company Act file number:** 811-07455

- **c. CIK number of Registrant:** 0001005020

- **d. LEI of Registrant:** 549300O4C4QVD88M4N75

- **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 KAR Developing Markets Fund

- **b. EDGAR series identifier (if any):** S000072168

- **c. LEI of Series:** 549300X88W856X7L4E48

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $4424915.60

**Total Liabilities:** $48314.78

**Net Assets:** $4376600.82

**Cash Not Reported:** $118300.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227967 | -1.17%               | 3.36%                | 3.16%                |
| Class ID C000227966 | -1.07%               | 3.34%                | 3.23%                |
| Class ID C000227965 | -1.17%               | 3.36%                | 3.25%                |
| Class ID C000227964 | -1.28%               | 3.28%                | 3.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $13727.39                | $-68742.52                                 |
| Month 2  | $47056.94                | $75167.18                                  |
| Month 3  | $-19899.07               | $157027.62                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bank Central Asia Tbk PT           | Bank Central Asia Tbk PT                  | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |    197000 | NS      | $90136.51     | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanzhun Ltd                        | Kanzhun Ltd                               | CUSIP: 48553T106<br>LEI: 254900F4ZCBITP7L0251 | Long             | EC               | CORP              | CN        |      5910 | NS      | $138057.60    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LEENO Industrial Inc               | LEENO Industrial Inc                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3862 | NS      | $141757.60    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                      | Allegro.eu SA                             | CUSIP: 000000000<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | PL        |     10397 | NS      | $101820.32    | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Riverstone Holdings Ltd            | Riverstone Holdings Ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    131600 | NS      | $72943.91     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Multi Bintang Indonesia Tbk PT     | Multi Bintang Indonesia Tbk PT            | CUSIP: 000000000<br>LEI: 5493006IQ4L0G3WJXZ80 | Long             | EC               | CORP              | ID        |    155000 | NS      | $53945.39     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tegma Gestao Logistica SA          | Tegma Gestao Logistica SA                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     14989 | NS      | $97133.85     | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Humanica PCL                       | Humanica PCL                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    114500 | NS      | $21730.44     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV       | Wal-Mart de Mexico SAB de CV              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     34710 | NS      | $107237.38    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kfin Technologies Ltd              | Kfin Technologies Ltd                     | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |      3138 | NS      | $37169.51     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE Information Service Co Lt     | NICE Information Service Co Ltd           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9784 | NS      | $97139.18     | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd               | Tencent Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      3100 | NS      | $264111.18    | 6.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Moctezuma SAB de CV           | Corp Moctezuma SAB de CV                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     39370 | NS      | $176475.46    | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Caixa Seguridade Participacoes     | Caixa Seguridade Participacoes S/A        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     64409 | NS      | $182374.68    | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| S-1 Corp                           | S-1 Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1217 | NS      | $72948.01     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualitas Controladora SAB de C     | Qualitas Controladora SAB de CV           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      5206 | NS      | $47467.60     | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Epiroc AB                          | Epiroc AB                                 | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |      4699 | NS      | $88545.48     | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Douzone Bizon Co Ltd               | Douzone Bizon Co Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1282 | NS      | $81230.03     | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV         | Arca Continental SAB de CV                | CUSIP: 000000000<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |     12918 | NS      | $135680.09    | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                       | Kaspi.KZ JSC                              | CUSIP: 48581R106<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | GB        |       632 | NS      | $51951.41     | 1.19%             |  |  |  | No            |                  3 | On Loan: No      |
| HAITIAN INT'L                      | Haitian International Holdings Ltd        | CUSIP: 000000000<br>LEI: 30030093DDRS825TVP62 | Long             | EC               | CORP              | CN        |     38066 | NS      | $104875.39    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                       | Kaspi.KZ JSC                              | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |       302 | NS      | $24667.36     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB Foods Inc                      | BBB Foods Inc                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      1917 | NS      | $51682.32     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd          | Alibaba Group Holding Ltd                 | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |       279 | NS      | $49865.67     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GFC Ltd/TW                         | GFC Ltd/TW                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     17000 | NS      | $73905.77     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Baltic Classifieds Group PLC       | Baltic Classifieds Group PLC              | CUSIP: 000000000<br>LEI: 213800I1RPHCFSSQS969 | Long             | EC               | CORP              | LT        |     65226 | NS      | $271939.59    | 6.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Auction PCL                  | Union Auction PCL                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    379200 | NS      | $72551.77     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GPS Participacoes e Empreendim     | GPS Participacoes e Empreendimentos SA    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     38793 | NS      | $137613.20    | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                               | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1330 | NS      | $371455.70    | 8.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuliangye Yibin Co Ltd             | Wuliangye Yibin Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      3000 | NS      | $51196.54     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Bureau Asia Ltd             | Credit Bureau Asia Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    148000 | NS      | $152595.06    | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management        | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |     34677 | NS      | $34677.11     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BR Advisory Partners Participa     | BR Advisory Partners Participacoes SA     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     21873 | NS      | $74550.47     | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarana Menara Nusantara Tbk PT     | Sarana Menara Nusantara Tbk PT            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |   2487400 | NS      | $87316.47     | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupa Pracuj SA/Poland             | Grupa Pracuj SA/Poland                    | CUSIP: 000000000<br>LEI: 259400BSBFEIIIDAAL82 | Long             | EC               | CORP              | PL        |      6206 | NS      | $112692.01    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| VAT Group AG                       | VAT Group AG                              | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Long             | EC               | CORP              | CH        |       259 | NS      | $102292.07    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Optima bank SA                     | Optima bank SA                            | CUSIP: 000000000<br>LEI: 2138008NSD1X1XFUK750 | Long             | EC               | CORP              | GR        |      8657 | NS      | $85782.06     | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Anhui Gujing Distillery Co Ltd     | Anhui Gujing Distillery Co Ltd            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      7300 | NS      | $101311.37    | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Malaysia Bhd              | Heineken Malaysia Bhd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     21200 | NS      | $107297.14    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Precision Tsugami China Corp L     | Precision Tsugami China Corp Ltd          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     24200 | NS      | $100072.09    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer