# EDGAR Filing Document

**Accession Number:** 0000034273
**File Stem:** 0001752724-25-203840
**Filing Date:** 2025-8
**Character Count:** 219101
**Document Hash:** 51b3df1430447646b9d6de92c305a062
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203840.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203840

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS EQUITY TRUST
- **CENTRAL INDEX KEY:** 0000034273

**ORGANIZATION NAME:**
- **EIN:** 036066130
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00945
- **FILM NUMBER:** 251253607

**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:** PHOENIX EQUITY TRUST
- **DATE OF NAME CHANGE:** 20040628

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX ABERDEEN WORLDWIDE OPPORTUNITIES FUND
- **DATE OF NAME CHANGE:** 19981215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX WORLDWIDE OPPORTUNITIES FUND
- **DATE OF NAME CHANGE:** 19940505

## Series and Classes Contracts Data

### VIRTUS TACTICAL ALLOCATION FUND (Series ID: S000021179)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000060291 | Class A      | NAINX           |
| C000060293 | Class C      | POICX           |
| C000211088 | Class I      | VTAIX           |
| C000224195 | Class R6     | VTARX           |

## Nport-Ex

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **U.S. Government Securities—5.4%** | **U.S. Government Securities—5.4%** | **U.S. Government Securities—5.4%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 8/15/48 | $4330 | $3202 |
| &nbsp;&nbsp;&nbsp;2.000%, 2/15/50 | &nbsp;&nbsp; 2045 | &nbsp;&nbsp;&nbsp; 1201 |
| &nbsp;&nbsp;&nbsp;1.375%, 8/15/50 | &nbsp;&nbsp; 12795 | &nbsp;&nbsp;&nbsp; 6308 |
| &nbsp;&nbsp;&nbsp;1.875%, 2/15/51 | &nbsp;&nbsp; 5255 | &nbsp;&nbsp;&nbsp; 2952 |
| &nbsp;&nbsp;&nbsp;2.250%, 2/15/52 | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp;2.875%, 5/15/52 | &nbsp;&nbsp; 2335 | &nbsp;&nbsp;&nbsp; 1643 |
| &nbsp;&nbsp;&nbsp;3.625%, 2/15/53 | &nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;3.625%, 5/15/53 | &nbsp;&nbsp; 3840 | &nbsp;&nbsp;&nbsp; 3132 |
| &nbsp;&nbsp;&nbsp;4.125%, 8/15/53 | &nbsp;&nbsp; 940 | &nbsp;&nbsp;&nbsp; 840 |
| &nbsp;&nbsp;&nbsp;4.250%, 2/15/54 | &nbsp;&nbsp; 6645 | &nbsp;&nbsp;&nbsp; 6061 |
| &nbsp;&nbsp;&nbsp;4.625%, 5/15/54 | &nbsp;&nbsp; 3870 | &nbsp;&nbsp;&nbsp; 3759 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/15/54 | &nbsp;&nbsp; 2250 | &nbsp;&nbsp;&nbsp; 2144 |
| &nbsp;&nbsp;&nbsp;4.625%, 2/15/55 | &nbsp;&nbsp; 1420 | &nbsp;&nbsp;&nbsp; 1382 |
| &nbsp;&nbsp;&nbsp;4.750%, 5/15/55 | &nbsp;&nbsp; 605 | &nbsp;&nbsp;&nbsp; 602 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 12/31/29 | &nbsp;&nbsp; 1070 | &nbsp;&nbsp;&nbsp; 1097 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/15/34 | &nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp; 497 |
| **Total U.S. Government Securities<br> (Identified Cost $45,328)** | **Total U.S. Government Securities<br> (Identified Cost $45,328)** | &nbsp;&nbsp;&nbsp;&nbsp; **35188** |
| **Foreign Government Securities—1.0%** | **Foreign Government Securities—1.0%** | **Foreign Government Securities—1.0%** |
| Abu Dhabi Government International Bond 144A<br> 3.125%, 9/30/49<sup>(1)</sup> | &nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp; 112 |
| Costa Rica Government |  |  |
| &nbsp;&nbsp;&nbsp;144A<br> 6.550%, 4/3/34<sup>(1)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp;144A<br> 7.300%, 11/13/54<sup>(1)</sup> | &nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp; 41 |
| Dominican Republic 144A<br> 4.875%, 9/23/32<sup>(1)</sup> | &nbsp;&nbsp; 417 | &nbsp;&nbsp;&nbsp; 385 |
| Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 10/20/33 | &nbsp;&nbsp; 395 | &nbsp;&nbsp;&nbsp; 392 |
| &nbsp;&nbsp;&nbsp;7.125%, 5/13/54 | &nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp; 62 |
| Hungary Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;144A<br> 6.250%, 9/22/32<sup>(1)</sup> | &nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;144A<br> 5.500%, 3/26/36<sup>(1)</sup> | &nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp; 94 |
| Kingdom of Morocco 144A<br> 3.000%, 12/15/32<sup>(1)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 93 |
| Republic of Angola 144A<br> 8.000%, 11/26/29<sup>(1)</sup> | &nbsp;&nbsp; 163 | &nbsp;&nbsp;&nbsp; 148 |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 4/25/30 | &nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/14/35 | &nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp; 143 |
| Republic of El Salvador 144A<br> 8.625%, 2/28/29<sup>(1)</sup> | &nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp; 86 |
| Republic of Guatemala 144A<br> 6.600%, 6/13/36<sup>(1)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp; 73 |
| Republic of Indonesia<br> 5.100%, 2/10/54 | &nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp; 234 |
| Republic of Ivory Coast |  |  |
| &nbsp;&nbsp;&nbsp;144A<br> 7.625%, 1/30/33<sup>(1)</sup> | &nbsp;&nbsp; 213 | &nbsp;&nbsp;&nbsp; 210 |
| &nbsp;&nbsp;&nbsp;144A<br> 8.250%, 1/30/37<sup>(1)</sup> | &nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp; 115 |
| Republic of Kenya |  |  |
| &nbsp;&nbsp;&nbsp;144A<br> 9.750%, 2/16/31<sup>(1)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp; 56 |
| &nbsp;&nbsp;&nbsp;144A<br> 9.500%, 3/5/36<sup>(1)</sup> | &nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp; 71 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Foreign Government Securities—continued** | **Foreign Government Securities—continued** | **Foreign Government Securities—continued** |
| Republic of Nigeria 144A<br> 10.375%, 12/9/34<sup>(1)</sup> | $176 | $185 |
| Republic of Panama<br> 8.000%, 3/1/38 | &nbsp;&nbsp; 219 | &nbsp;&nbsp;&nbsp; 234 |
| Republic of Peru<br> 5.375%, 2/8/35 | &nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp; 240 |
| Republic of Philippines<br> 4.750%, 3/5/35 | &nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp; 147 |
| Republic of Poland<br> 4.875%, 10/4/33 | &nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp; 273 |
| Republic of Serbia 144A<br> 6.500%, 9/26/33<sup>(1)</sup> | &nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp; 80 |
| Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;4.850%, 9/30/29 | &nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp;5.875%, 6/22/30 | &nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp;5.650%, 9/27/47 | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp; 26 |
| Republic of Turkiye |  |  |
| &nbsp;&nbsp;&nbsp;7.250%, 5/29/32 | &nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp; 141 |
| &nbsp;&nbsp;&nbsp;7.625%, 5/15/34 | &nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp;6.625%, 2/17/45 | &nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp; 68 |
| Republica Orient Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 6/18/50 | &nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp;4.975%, 4/20/55 | &nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp; 69 |
| Romania Government International Bond 144A<br> 5.875%, 1/30/29<sup>(1)</sup> | &nbsp;&nbsp; 194 | &nbsp;&nbsp;&nbsp; 195 |
| Saudi International Bond |  |  |
| &nbsp;&nbsp;&nbsp;144A<br> 4.875%, 7/18/33<sup>(1)</sup> | &nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp;144A<br> 5.625%, 1/13/35<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp;144A<br> 4.500%, 10/26/46<sup>(1)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; 90 |
| State of Qatar 144A<br> 3.750%, 4/16/30<sup>(1)</sup> | &nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp; 104 |
| UAE International Government Bond 144A<br> 4.050%, 7/7/32<sup>(1)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp; 71 |
| United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 5/7/36 | &nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp;6.625%, 1/29/38 | &nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp; 202 |
| Uzbekistan International Bond 144A<br> 6.900%, 2/28/32<sup>(1)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp; 46 |
| **Total Foreign Government Securities<br> (Identified Cost $6,446)** | **Total Foreign Government Securities<br> (Identified Cost $6,446)** | &nbsp;&nbsp;&nbsp;&nbsp; **6455** |
| **Mortgage-Backed Securities—4.3%** | **Mortgage-Backed Securities—4.3%** | **Mortgage-Backed Securities—4.3%** |
| **Agency—4.3%** | **Agency—4.3%** |  |
| Federal Home Loan Mortgage Corporation |  |  |
| &nbsp;&nbsp;&nbsp;Pool #A46224<br> 5.000%, 7/1/35 | &nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp;Pool #A62213<br> 6.000%, 6/1/37 | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp;Pool #SD5594<br> 5.500%, 7/1/53 | &nbsp;&nbsp; 1071 | &nbsp;&nbsp;&nbsp; 1072 |
| &nbsp;&nbsp;&nbsp;Pool #SD5856<br> 3.500%, 1/1/54 | &nbsp;&nbsp; 2940 | &nbsp;&nbsp;&nbsp; 2648 |
| &nbsp;&nbsp;&nbsp;Pool #SD8309<br> 6.000%, 3/1/53 | &nbsp;&nbsp; 3185 | &nbsp;&nbsp;&nbsp; 3241 |
| &nbsp;&nbsp;&nbsp;Pool #SD8350<br> 6.000%, 8/1/53 | &nbsp;&nbsp; 916 | &nbsp;&nbsp;&nbsp; 932 |
| &nbsp;&nbsp;&nbsp;Pool #SD8383<br> 5.500%, 12/1/53 | &nbsp;&nbsp; 1161 | &nbsp;&nbsp;&nbsp; 1162 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Agency—continued** | **Agency—continued** |  |
| &nbsp;&nbsp;&nbsp;Pool #SD8418<br> 4.500%, 4/1/54 | $2343 | $2242 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Pool #254549<br> 6.000%, 12/1/32 | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp;Pool #310041<br> 6.500%, 5/1/37 | &nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Pool #735061<br> 6.000%, 11/1/34 | &nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Pool #880117<br> 5.500%, 4/1/36 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;Pool #909092<br> 6.000%, 9/1/37 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 4 |
| &nbsp;&nbsp;&nbsp;Pool #909175<br> 5.500%, 4/1/38 | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp;Pool #909220<br> 6.000%, 8/1/38 | &nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;Pool #929625<br> 5.500%, 6/1/38 | &nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp;Pool #938574<br> 5.500%, 9/1/36 | &nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp; 39 |
| &nbsp;&nbsp;&nbsp;Pool #972569<br> 5.000%, 3/1/38 | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp;Pool #CB6857<br> 4.500%, 8/1/53 | &nbsp;&nbsp; 925 | &nbsp;&nbsp;&nbsp; 886 |
| &nbsp;&nbsp;&nbsp;Pool #FA0685<br> 6.000%, 1/1/55 | &nbsp;&nbsp; 2580 | &nbsp;&nbsp;&nbsp; 2625 |
| &nbsp;&nbsp;&nbsp;Pool #FS4438<br> 5.000%, 11/1/52 | &nbsp;&nbsp; 1575 | &nbsp;&nbsp;&nbsp; 1551 |
| &nbsp;&nbsp;&nbsp;Pool #FS6679<br> 6.000%, 12/1/53 | &nbsp;&nbsp; 1545 | &nbsp;&nbsp;&nbsp; 1572 |
| &nbsp;&nbsp;&nbsp;Pool #FS7751<br> 4.000%, 3/1/53 | &nbsp;&nbsp; 2182 | &nbsp;&nbsp;&nbsp; 2030 |
| &nbsp;&nbsp;&nbsp;Pool #FS8791<br> 6.000%, 8/1/54 | &nbsp;&nbsp; 688 | &nbsp;&nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp;Pool #MA4785<br> 5.000%, 10/1/52 | &nbsp;&nbsp; 1380 | &nbsp;&nbsp;&nbsp; 1359 |
| &nbsp;&nbsp;&nbsp;Pool #MA4805<br> 4.500%, 11/1/52 | &nbsp;&nbsp; 938 | &nbsp;&nbsp;&nbsp; 899 |
| &nbsp;&nbsp;&nbsp;Pool #MA4980<br> 6.000%, 4/1/53 | &nbsp;&nbsp; 1498 | &nbsp;&nbsp;&nbsp; 1528 |
| &nbsp;&nbsp;&nbsp;Pool #MA5072<br> 5.500%, 7/1/53 | &nbsp;&nbsp; 875 | &nbsp;&nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp;Pool #MA5385<br> 4.000%, 6/1/54 | &nbsp;&nbsp; 2210 | &nbsp;&nbsp;&nbsp; 2056 |
| **Total Mortgage-Backed Securities<br> (Identified Cost $27,890)** | **Total Mortgage-Backed Securities<br> (Identified Cost $27,890)** | &nbsp;&nbsp;&nbsp;&nbsp; **27848** |
| **Corporate Bonds and Notes—9.7%** | **Corporate Bonds and Notes—9.7%** | **Corporate Bonds and Notes—9.7%** |
| **Communication Services—0.1%** | **Communication Services—0.1%** |  |
| Sprint Capital Corp.<br> 8.750%, 3/15/32 | &nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp; 412 |
| **Consumer Discretionary—0.4%** | **Consumer Discretionary—0.4%** |  |
| Ashtead Capital, Inc. 144A<br> 5.950%, 10/15/33<sup>(1)</sup> | &nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp; 388 |
| Dick's Sporting Goods, Inc.<br> 4.100%, 1/15/52 | &nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp; 365 |
| DR Horton, Inc.<br> 5.500%, 10/15/35 | &nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp; 484 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Consumer Discretionary—continued** | **Consumer Discretionary—continued** |  |
| Ford Motor Co.<br> 3.250%, 2/12/32 | $286 | $241 |
| Ford Motor Credit Co. LLC<br> 6.500%, 2/7/35 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 165 |
| Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 3/15/35 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp;144A 3.875%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 191 | &nbsp;&nbsp; 184 |
| Nissan Motor Acceptance Co. LLC 144A<br> 7.050%, 9/15/28<sup>(1)</sup> | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 235 |
| Sodexo, Inc. 144A<br> 5.800%, 8/15/35<sup>(1)</sup> | &nbsp;&nbsp; 465 | &nbsp;&nbsp; 479 |
|  |  | &nbsp;&nbsp; 2661 |
| **Consumer Staples—0.3%** | **Consumer Staples—0.3%** |  |
| BAT Capital Corp.<br> 7.750%, 10/19/32 | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 381 |
| Mars, Inc. 144A<br> 5.700%, 5/1/55<sup>(1)</sup> | &nbsp;&nbsp; 485 | &nbsp;&nbsp; 484 |
| Philip Morris International, Inc.<br> 4.900%, 11/1/34 | &nbsp;&nbsp; 460 | &nbsp;&nbsp; 458 |
| Pilgrim's Pride Corp.<br> 6.250%, 7/1/33 | &nbsp;&nbsp; 463 | &nbsp;&nbsp; 490 |
|  |  | &nbsp;&nbsp; 1813 |
| **Energy—1.0%** | **Energy—1.0%** |  |
| BP Capital Markets plc<br> 4.875% <sup>(2)</sup> | &nbsp;&nbsp; 580 | &nbsp;&nbsp; 574 |
| Columbia Pipelines Operating Co. LLC 144A<br> 6.036%, 11/15/33<sup>(1)</sup> | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 241 |
| Diamondback Energy, Inc.<br> 5.900%, 4/18/64 | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 356 |
| Enbridge, Inc.<br> 8.500%, 1/15/84 | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 568 |
| EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.350%, 1/15/36 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 101 |
| &nbsp;&nbsp;&nbsp;5.650%, 12/1/54 | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 376 |
| Flex Intermediate Holdco LLC 144A<br> 3.363%, 6/30/31<sup>(1)</sup> | &nbsp;&nbsp; 785 | &nbsp;&nbsp; 698 |
| Florida Gas Transmission Co. LLC 144A<br> 5.750%, 7/15/35<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 205 |
| Harbour Energy plc 144A<br> 6.327%, 4/1/35<sup>(1)</sup> | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 472 |
| HF Sinclair Corp.<br> 6.250%, 1/15/35 | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 386 |
| Kinder Morgan Energy Partners LP<br> 7.500%, 11/15/40 | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 509 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.550%, 10/1/34 | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp;6.200%, 3/15/40 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 333 |
| Pertamina Persero PT 144A<br> 6.450%, 5/30/44<sup>(1)</sup> | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 379 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 3/13/27 | &nbsp;&nbsp; 207 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp;6.840%, 1/23/30 | &nbsp;&nbsp; 64 | &nbsp;&nbsp; 62 |
| &nbsp;&nbsp;&nbsp;5.950%, 1/28/31 | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;7.690%, 1/23/50 | &nbsp;&nbsp; 74 | &nbsp;&nbsp; 58 |
| QatarEnergy 144A<br> 2.250%, 7/12/31<sup>(1)</sup> | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 161 |
| Reliance Industries Ltd. 144A<br> 2.875%, 1/12/32<sup>(1)</sup> | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 275 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Energy—continued** | **Energy—continued** |  |
| Saudi Arabian Oil Co. 144A<br> 5.250%, 7/17/34<sup>(1)</sup> | $355 | $358 |
| Western Midstream Operating LP<br> 5.250%, 2/1/50 | &nbsp;&nbsp; 345 | &nbsp;&nbsp; 290 |
|  |  | &nbsp;&nbsp; 6930 |
| **Financials—4.5%** | **Financials—4.5%** |  |
| AerCap Ireland Capital DAC<br> 6.950%, 3/10/55 | &nbsp;&nbsp; 229 | &nbsp;&nbsp; 238 |
| Allianz SE 144A<br> 6.350%, 9/6/53<sup>(1)</sup> | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 419 |
| Allstate Corp. (The) Series B (3 month Term SOFR + 3.200%)<br> 7.526%, 8/15/53<sup>(3)</sup> | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 370 |
| Ally Financial, Inc.<br> 5.543%, 1/17/31 | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 390 |
| American Express Co.<br> 5.625%, 7/28/34 | &nbsp;&nbsp; 670 | &nbsp;&nbsp; 685 |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;6.900%, 4/13/29 | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;6.700%, 7/29/31 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 114 |
| Apollo Global Management, Inc.<br> 6.000%, 12/15/54 | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 463 |
| Ascot Group Ltd. 144A<br> 4.250%, 12/15/30<sup>(1)</sup> | &nbsp;&nbsp; 745 | &nbsp;&nbsp; 684 |
| Australia & New Zealand Banking Group Ltd. 144A<br> 5.816%, 6/18/36<sup>(1)</sup> | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 355 |
| Avolon Holdings Funding Ltd. 144A<br> 5.750%, 11/15/29<sup>(1)</sup> | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 481 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.687%, 4/22/32 | &nbsp;&nbsp; 245 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp;2.972%, 2/4/33 | &nbsp;&nbsp; 408 | &nbsp;&nbsp; 365 |
| &nbsp;&nbsp;&nbsp;5.518%, 10/25/35 | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 475 |
| Bank of New York Mellon Corp. (The) Series G<br> 4.700% <sup>(2)</sup> | &nbsp;&nbsp; 710 | &nbsp;&nbsp; 708 |
| Barclays plc<br> 7.437%, 11/2/33 | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 403 |
| BlackRock Funding, Inc.<br> 5.250%, 3/14/54 | &nbsp;&nbsp; 485 | &nbsp;&nbsp; 465 |
| Blackstone Private Credit Fund<br> 6.000%, 11/22/34 | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 362 |
| Blue Owl Finance LLC<br> 3.125%, 6/10/31 | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 542 |
| BNSF Funding Trust I<br> 6.613%, 12/15/55 | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 381 |
| BPCE S.A. 144A<br> 7.003%, 10/19/34<sup>(1)</sup> | &nbsp;&nbsp; 535 | &nbsp;&nbsp; 588 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.359%, 7/29/32 | &nbsp;&nbsp; 388 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;6.377%, 6/8/34 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 112 |
| Capital Power U.S. Holdings, Inc. 144A<br> 6.189%, 6/1/35<sup>(1)</sup> | &nbsp;&nbsp; 275 | &nbsp;&nbsp; 284 |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.136%, 8/24/34 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 211 |
| &nbsp;&nbsp;&nbsp;Series H<br> 4.000%<sup>(2)</sup> | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 241 |
| Charter Communications Operating LLC<br> 4.800%, 3/1/50 | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 260 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.270%, 11/17/33 | &nbsp;&nbsp; 690 | &nbsp;&nbsp; 743 |
| &nbsp;&nbsp;&nbsp;6.174%, 5/25/34 | &nbsp;&nbsp; 379 | &nbsp;&nbsp; 397 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Financials—continued** | **Financials—continued** |  |
| Citizens Financial Group, Inc.<br> 5.718%, 7/23/32 | $30 | $31 |
| Corebridge Financial, Inc.<br> 6.375%, 9/15/54 | &nbsp;&nbsp; 565 | &nbsp;&nbsp; 563 |
| Deutsche Bank AG<br> 5.403%, 9/11/35 | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 472 |
| Drawbridge Special Opportunities Fund LP 144A<br> 3.875%, 2/15/26<sup>(1)</sup> | &nbsp;&nbsp; 770 | &nbsp;&nbsp; 759 |
| F&G Annuities & Life, Inc.<br> 6.500%, 6/4/29 | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 397 |
| Fifth Third Bancorp<br> 4.337%, 4/25/33 | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 339 |
| Foundry JV Holdco LLC 144A<br> 5.875%, 1/25/34<sup>(1)</sup> | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 239 |
| Gallagher (Arthur J.) & Co.<br> 5.550%, 2/15/55 | &nbsp;&nbsp; 575 | &nbsp;&nbsp; 551 |
| Global Atlantic Fin Co. 144A<br> 7.950%, 6/15/33<sup>(1)</sup> | &nbsp;&nbsp; 197 | &nbsp;&nbsp; 223 |
| Goldman Sachs Group, Inc. (The)<br> 5.330%, 7/23/35 | &nbsp;&nbsp; 665 | &nbsp;&nbsp; 671 |
| HA Sustainable Infrastructure Capital, Inc.<br> 6.375%, 7/1/34 | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 450 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.709%, 2/2/35 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp;6.141%, 11/18/39 | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 240 |
| Icon Investments Six DAC<br> 6.000%, 5/8/34 | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 409 |
| Imperial Brands Finance plc 144A<br> 5.875%, 7/1/34<sup>(1)</sup> | &nbsp;&nbsp; 345 | &nbsp;&nbsp; 354 |
| JH North America Holdings, Inc. 144A<br> 6.125%, 7/31/32<sup>(1)</sup> | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 483 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.956%, 5/13/31 | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 213 |
| &nbsp;&nbsp;&nbsp;5.717%, 9/14/33 | &nbsp;&nbsp; 495 | &nbsp;&nbsp; 516 |
| &nbsp;&nbsp;&nbsp;1.953%, 2/4/32 | &nbsp;&nbsp; 635 | &nbsp;&nbsp; 551 |
| KeyCorp<br> 6.401%, 3/6/35 | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 640 |
| MetLife, Inc. Series G<br> 3.850% <sup>(2)</sup> | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 348 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;6.342%, 10/18/33 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;5.250%, 4/21/34 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp;5.424%, 7/21/34 | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;5.948%, 1/19/38 | &nbsp;&nbsp; 249 | &nbsp;&nbsp; 256 |
| MSCI, Inc. 144A<br> 3.625%, 9/1/30<sup>(1)</sup> | &nbsp;&nbsp; 792 | &nbsp;&nbsp; 743 |
| National Rural Utilities Cooperative Finance Corp. (3 month Term SOFR + 3.172%)<br> 7.451%, 4/30/43<sup>(3)</sup> | &nbsp;&nbsp; 319 | &nbsp;&nbsp; 317 |
| NatWest Group plc<br> 6.475%, 6/1/34 | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 408 |
| NextEra Energy Capital Holdings, Inc.<br> 6.500%, 8/15/55 | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 455 |
| Nippon Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;144A 6.250%, 9/13/53<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp;144A 6.500%, 4/30/55<sup>(1)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 78 |
| Northern Trust Corp.<br> 3.375%, 5/8/32 | &nbsp;&nbsp; 590 | &nbsp;&nbsp; 573 |
| Petronas Capital Ltd. 144A<br> 5.848%, 4/3/55<sup>(1)</sup> | &nbsp;&nbsp; 163 | &nbsp;&nbsp; 165 |
| PNC Financial Services Group, Inc. (The)<br> 5.575%, 1/29/36 | &nbsp;&nbsp; 455 | &nbsp;&nbsp; 469 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Financials—continued** | **Financials—continued** |  |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 3/1/52 | $179 | $173 |
| &nbsp;&nbsp;&nbsp;6.750%, 3/1/53 | &nbsp;&nbsp; 285 | &nbsp;&nbsp; 299 |
| Reinsurance Group of America, Inc.<br> 6.650%, 9/15/55 | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 389 |
| Societe Generale S.A. 144A<br> 6.066%, 1/19/35<sup>(1)</sup> | &nbsp;&nbsp; 415 | &nbsp;&nbsp; 427 |
| South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;144A 5.584%, 10/1/34<sup>(1)</sup> | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;144A 6.176%, 10/1/54<sup>(1)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 90 |
| State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.123%, 11/21/34 | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp;Series I<br> 6.700%<sup>(2)</sup> | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 251 |
| Stellantis Finance U.S., Inc. 144A<br> 6.450%, 3/18/35<sup>(1)</sup> | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 342 |
| Toll Brothers Finance Corp.<br> 5.600%, 6/15/35 | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 121 |
| Toronto-Dominion Bank (The)<br> 8.125%, 10/31/82 | &nbsp;&nbsp; 440 | &nbsp;&nbsp; 460 |
| U.S. Bancorp<br> 5.424%, 2/12/36 | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 484 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;144A 9.250%<sup>(1)(2)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp;144A 4.988%, 8/5/33<sup>(1)</sup> | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 548 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.491%, 10/23/34 | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 486 |
| &nbsp;&nbsp;&nbsp;Series BB<br> 3.900%<sup>(2)</sup> | &nbsp;&nbsp; 490 | &nbsp;&nbsp; 485 |
|  |  | &nbsp;&nbsp; 29493 |
| **Health Care—0.7%** | **Health Care—0.7%** |  |
| Amgen, Inc.<br> 5.650%, 3/2/53 | &nbsp;&nbsp; 432 | &nbsp;&nbsp; 422 |
| CVS Health Corp.<br> 5.050%, 3/25/48 | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 518 |
| DENTSPLY SIRONA, Inc.<br> 3.250%, 6/1/30 | &nbsp;&nbsp; 975 | &nbsp;&nbsp; 890 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, 9/15/34 | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp;5.250%, 6/15/49 | &nbsp;&nbsp; 415 | &nbsp;&nbsp; 369 |
| IQVIA, Inc.<br> 6.250%, 2/1/29 | &nbsp;&nbsp; 440 | &nbsp;&nbsp; 460 |
| Par Pharmaceutical, Inc. 144A<br> 7.500%, 4/1/27<sup>(1)(4)</sup> | &nbsp;&nbsp; 185 | &nbsp;&nbsp; — |
| Royalty Pharma plc |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 9/2/34 | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 329 |
| &nbsp;&nbsp;&nbsp;3.350%, 9/2/51 | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 214 |
| Smith & Nephew plc<br> 5.400%, 3/20/34 | &nbsp;&nbsp; 580 | &nbsp;&nbsp; 588 |
| Universal Health Services, Inc.<br> 2.650%, 1/15/32 | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 433 |
| Viatris, Inc. 144A<br> 2.300%, 6/22/27<sup>(1)</sup> | &nbsp;&nbsp; 1 | &nbsp;&nbsp; —<sup>(5)</sup> |
|  |  | &nbsp;&nbsp; 4460 |
| **Industrials—1.0%** | **Industrials—1.0%** |  |
| Alaska Airlines Pass-Through Trust 2020-1, A 144A<br> 4.800%, 2/15/29<sup>(1)</sup> | &nbsp;&nbsp; 612 | &nbsp;&nbsp; 612 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Industrials—continued** | **Industrials—continued** |  |
| Aviation Capital Group LLC 144A<br> 3.500%, 11/1/27<sup>(1)</sup> | $350 | $341 |
| Boeing Co. (The)<br> 5.930%, 5/1/60 | &nbsp;&nbsp; 525 | &nbsp;&nbsp; 499 |
| British Airways Pass-Through Trust 2021-1, A 144A<br> 2.900%, 9/15/36<sup>(1)</sup> | &nbsp;&nbsp; 507 | &nbsp;&nbsp; 457 |
| CoStar Group, Inc. 144A<br> 2.800%, 7/15/30<sup>(1)</sup> | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 569 |
| DP World Ltd. 144A<br> 6.850%, 7/2/37<sup>(1)</sup> | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 114 |
| Huntington Ingalls Industries, Inc.<br> 5.749%, 1/15/35 | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 335 |
| Ingersoll Rand, Inc.<br> 5.700%, 8/14/33 | &nbsp;&nbsp; 460 | &nbsp;&nbsp; 482 |
| L3Harris Technologies, Inc.<br> 5.400%, 7/31/33 | &nbsp;&nbsp; 480 | &nbsp;&nbsp; 493 |
| New York State Electric & Gas Corp. 144A<br> 5.850%, 8/15/33<sup>(1)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 336 |
| Regal Rexnord Corp.<br> 6.400%, 4/15/33 | &nbsp;&nbsp; 709 | &nbsp;&nbsp; 749 |
| Sempra Infrastructure Partners LP 144A<br> 3.250%, 1/15/32<sup>(1)</sup> | &nbsp;&nbsp; 729 | &nbsp;&nbsp; 621 |
| United Airlines Pass-Through Trust 2023-1, A<br> 5.800%, 7/15/37 | &nbsp;&nbsp; 265 | &nbsp;&nbsp; 270 |
| United Airlines Pass-Through-Trust 2024-1, AA<br> 5.450%, 8/15/38 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 25 |
| Veralto Corp.<br> 5.450%, 9/18/33 | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 433 |
|  |  | &nbsp;&nbsp; 6336 |
| **Information Technology—0.4%** | **Information Technology—0.4%** |  |
| Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, 8/4/33 | &nbsp;&nbsp; 445 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;144A 4.000%, 7/1/29<sup>(1)</sup> | &nbsp;&nbsp; 215 | &nbsp;&nbsp; 206 |
| Broadcom, Inc. 144A<br> 3.137%, 11/15/35<sup>(1)</sup> | &nbsp;&nbsp; 570 | &nbsp;&nbsp; 481 |
| Gartner, Inc. 144A<br> 3.750%, 10/1/30<sup>(1)</sup> | &nbsp;&nbsp; 595 | &nbsp;&nbsp; 557 |
| Marvell Technology, Inc.<br> 5.450%, 7/15/35 | &nbsp;&nbsp; 465 | &nbsp;&nbsp; 468 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.900%, 11/9/52 | &nbsp;&nbsp; 215 | &nbsp;&nbsp; 239 |
| &nbsp;&nbsp;&nbsp;5.550%, 2/6/53 | &nbsp;&nbsp; 122 | &nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp;3.850%, 4/1/60 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 96 |
|  |  | &nbsp;&nbsp; 2619 |
| **Materials—0.4%** | **Materials—0.4%** |  |
| Bayport Polymers LLC 144A<br> 5.140%, 4/14/32<sup>(1)</sup> | &nbsp;&nbsp; 580 | &nbsp;&nbsp; 562 |
| Berry Global, Inc.<br> 5.650%, 1/15/34 | &nbsp;&nbsp; 440 | &nbsp;&nbsp; 454 |
| Corp. Nacional del Cobre de Chile 144A<br> 5.950%, 1/8/34<sup>(1)</sup> | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 357 |
| Glencore Funding LLC 144A<br> 2.850%, 4/27/31<sup>(1)</sup> | &nbsp;&nbsp; 505 | &nbsp;&nbsp; 455 |
| Smurfit Kappa Treasury ULC<br> 5.777%, 4/3/54 | &nbsp;&nbsp; 410 | &nbsp;&nbsp; 405 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Materials—continued** | **Materials—continued** |  |
| Sonoco Products Co.<br> 5.000%, 9/1/34 | $360 | $350 |
|  |  | &nbsp;&nbsp;&nbsp; 2583 |
| **Real Estate—0.1%** | **Real Estate—0.1%** |  |
| NNN REIT, Inc.<br> 5.500%, 6/15/34 | &nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp; 359 |
| Safehold GL Holdings LLC<br> 5.650%, 1/15/35 | &nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp; 474 |
|  |  | &nbsp;&nbsp;&nbsp; 833 |
| **Utilities—0.8%** | **Utilities—0.8%** |  |
| Black Hills Corp.<br> 6.150%, 5/15/34 | &nbsp;&nbsp; 570 | &nbsp;&nbsp;&nbsp; 598 |
| Brooklyn Union Gas Co. (The) 144A<br> 4.866%, 8/5/32<sup>(1)</sup> | &nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp; 575 |
| CMS Energy Corp.<br> 4.750%, 6/1/50 | &nbsp;&nbsp; 735 | &nbsp;&nbsp;&nbsp; 714 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 5/15/55 | &nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp; 376 |
| &nbsp;&nbsp;&nbsp;Series B<br> 7.000%, 6/1/54 | &nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp; 300 |
| Electricite de France S.A. 144A<br> 6.900%, 5/23/53<sup>(1)</sup> | &nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp; 454 |
| Enel Finance International N.V. 144A<br> 7.500%, 10/14/32<sup>(1)</sup> | &nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp; 456 |
| Entergy Corp.<br> 7.125%, 12/1/54 | &nbsp;&nbsp; 590 | &nbsp;&nbsp;&nbsp; 610 |
| NRG Energy, Inc. 144A<br> 7.000%, 3/15/33<sup>(1)</sup> | &nbsp;&nbsp; 433 | &nbsp;&nbsp;&nbsp; 475 |
| Puget Energy, Inc.<br> 4.224%, 3/15/32 | &nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp; 602 |
| Southern California Edison Co.<br> 6.000%, 1/15/34 | &nbsp;&nbsp; 355 | &nbsp;&nbsp;&nbsp; 364 |
|  |  | &nbsp;&nbsp;&nbsp; 5524 |
| **Total Corporate Bonds and Notes<br> (Identified Cost $62,950)** | **Total Corporate Bonds and Notes<br> (Identified Cost $62,950)** | &nbsp;&nbsp;&nbsp;&nbsp; **63664** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **Common Stocks—63.2%** | **Common Stocks—63.2%** | **Common Stocks—63.2%** |
| **Communication Services—9.7%** | **Communication Services—9.7%** |  |
| Auto Trader Group plc | &nbsp;&nbsp;&nbsp;&nbsp;336984 | &nbsp;&nbsp; 3813 |
| Baltic Classifieds Group plc | 1783443 | &nbsp;&nbsp; 9131 |
| Dayamitra Telekomunikasi PT | 70846846 | &nbsp;&nbsp; 2422 |
| Hemnet Group AB | &nbsp;&nbsp;&nbsp;&nbsp;143700 | &nbsp;&nbsp; 4201 |
| Infrastrutture Wireless Italiane SpA | &nbsp;&nbsp;&nbsp;&nbsp;237527 | &nbsp;&nbsp; 2904 |
| Meta Platforms, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20281 | &nbsp;&nbsp; 14969 |
| Netflix, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116 | &nbsp;&nbsp; 9529 |
| oOh!media Ltd. | 4254860 | &nbsp;&nbsp; 4831 |
| Rightmove plc | &nbsp;&nbsp;&nbsp;&nbsp;549900 | &nbsp;&nbsp; 5953 |
| Sarana Menara Nusantara Tbk PT | 42934000 | &nbsp;&nbsp; 1306 |
| Trade Desk, Inc. (The) Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64474 | &nbsp;&nbsp; 4642 |
|  |  | &nbsp;&nbsp; 63701 |
| **Consumer Discretionary—9.1%** | **Consumer Discretionary—9.1%** |  |
| Airbnb, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23398 | &nbsp;&nbsp; 3096 |
| Allegro.eu S.A.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;275225 | &nbsp;&nbsp; 2641 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Consumer Discretionary—continued** | **Consumer Discretionary—continued** |  |
| Amazon.com, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62167 | $13639 |
| Bright Horizons Family Solutions, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14047 | &nbsp;&nbsp; 1736 |
| Choice Hotels International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13792 | &nbsp;&nbsp; 1750 |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8913 | &nbsp;&nbsp; 3268 |
| Marriott International, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22179 | &nbsp;&nbsp; 6060 |
| MercadoLibre, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp; 5457 |
| NIKE, Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38515 | &nbsp;&nbsp; 2736 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14177 | &nbsp;&nbsp; 1868 |
| O'Reilly Automotive, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74114 | &nbsp;&nbsp; 6680 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720 | &nbsp;&nbsp; 1959 |
| Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41791 | &nbsp;&nbsp; 2358 |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24961 | &nbsp;&nbsp; 3185 |
| SiteOne Landscape Supply, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9766 | &nbsp;&nbsp; 1181 |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18921 | &nbsp;&nbsp; 1680 |
|  |  | &nbsp;&nbsp; 59294 |
| **Consumer Staples—1.1%** | **Consumer Staples—1.1%** |  |
| Anhui Gujing Distillery Co., Ltd. Class B | &nbsp;&nbsp;&nbsp;&nbsp;190600 | &nbsp;&nbsp; 2549 |
| BJ's Wholesale Club Holdings, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17475 | &nbsp;&nbsp; 1884 |
| Heineken Malaysia Bhd | &nbsp;&nbsp;&nbsp;&nbsp;478300 | &nbsp;&nbsp; 2863 |
|  |  | &nbsp;&nbsp; 7296 |
| **Energy—0.4%** | **Energy—0.4%** |  |
| Pason Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;308809 | &nbsp;&nbsp; 2785 |
| **Financials—9.5%** | **Financials—9.5%** |  |
| AJ Bell plc | &nbsp;&nbsp;&nbsp;&nbsp;844538 | &nbsp;&nbsp; 5924 |
| Block, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33808 | &nbsp;&nbsp; 2297 |
| Caixa Seguridade Participacoes S.A. | 2074636 | &nbsp;&nbsp; 5605 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp;&nbsp;&nbsp;187289 | &nbsp;&nbsp; 4155 |
| Hamilton Lane, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8141 | &nbsp;&nbsp; 1157 |
| Interactive Brokers Group, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53687 | &nbsp;&nbsp; 2975 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10879 | &nbsp;&nbsp; 1960 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8799 | &nbsp;&nbsp; 3299 |
| Moltiply Group SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51303 | &nbsp;&nbsp; 2750 |
| Mortgage Advice Bureau Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;168832 | &nbsp;&nbsp; 2039 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25332 | &nbsp;&nbsp; 6760 |
| Qualitas Controladora SAB de C.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74544 | &nbsp;&nbsp; 766 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10157 | &nbsp;&nbsp; 5356 |
| Visa, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40667 | &nbsp;&nbsp; 14439 |
| W. R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40558 | &nbsp;&nbsp; 2980 |
|  |  | &nbsp;&nbsp; 62462 |
| **Health Care—5.0%** | **Health Care—5.0%** |  |
| As One Corp. | &nbsp;&nbsp;&nbsp;&nbsp;250600 | &nbsp;&nbsp; 4335 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2561 | &nbsp;&nbsp; 1247 |
| Cooper Cos., Inc. (The)<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25951 | &nbsp;&nbsp; 1847 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19750 | &nbsp;&nbsp; 3902 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7026 | &nbsp;&nbsp; 5477 |
| Haw Par Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;494700 | &nbsp;&nbsp; 4661 |
| IDEXX Laboratories, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392 | &nbsp;&nbsp; 1819 |
| Intuitive Surgical, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8099 | &nbsp;&nbsp; 4401 |
| Zoetis, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30538 | &nbsp;&nbsp; 4762 |
|  |  | &nbsp;&nbsp; 32451 |
| **Industrials—10.6%** | **Industrials—10.6%** |  |
| Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16263 | &nbsp;&nbsp; 2344 |
| Epiroc AB Class B | &nbsp;&nbsp;&nbsp;&nbsp;186027 | &nbsp;&nbsp; 3559 |
| Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20443 | &nbsp;&nbsp; 5302 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials—continued** | **Industrials—continued** |  |
| Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14595 | $1090 |
| Fair Isaac Corp.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5690 | &nbsp;&nbsp; 10401 |
| Haitian International Holdings Ltd. | 1300006 | &nbsp;&nbsp; 3378 |
| Howden Joinery Group plc | &nbsp;&nbsp;&nbsp;&nbsp;324982 | &nbsp;&nbsp; 3819 |
| Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23479 | &nbsp;&nbsp; 2269 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3537 | &nbsp;&nbsp; 2028 |
| MEITEC Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117500 | &nbsp;&nbsp; 2591 |
| MISUMI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;160400 | &nbsp;&nbsp; 2151 |
| MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9752 | &nbsp;&nbsp; 4333 |
| NICE Information Service Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;143029 | &nbsp;&nbsp; 1732 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8809 | &nbsp;&nbsp; 1888 |
| Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9764 | &nbsp;&nbsp; 2259 |
| S-1 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54645 | &nbsp;&nbsp; 2778 |
| Saia, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5114 | &nbsp;&nbsp; 1401 |
| Uber Technologies, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80853 | &nbsp;&nbsp; 7544 |
| UL Solutions, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27777 | &nbsp;&nbsp; 2024 |
| VAT Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5594 | &nbsp;&nbsp; 2360 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4834 | &nbsp;&nbsp; 2135 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56815 | &nbsp;&nbsp; 2078 |
|  |  | &nbsp;&nbsp; 69464 |
| **Information Technology—15.4%** | **Information Technology—15.4%** |  |
| Accenture plc Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11342 | &nbsp;&nbsp; 3390 |
| Alten S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40547 | &nbsp;&nbsp; 3556 |
| Amphenol Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;140410 | &nbsp;&nbsp; 13865 |
| Bentley Systems, Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56285 | &nbsp;&nbsp; 3038 |
| Bouvet ASA | &nbsp;&nbsp;&nbsp;&nbsp;488091 | &nbsp;&nbsp; 3859 |
| Cadence Design Systems, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16692 | &nbsp;&nbsp; 5144 |
| FDM Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;570275 | &nbsp;&nbsp; 1671 |
| Freee KK<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83300 | &nbsp;&nbsp; 2224 |
| Gartner, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448 | &nbsp;&nbsp; 2606 |
| Kainos Group plc | &nbsp;&nbsp;&nbsp;&nbsp;121419 | &nbsp;&nbsp; 1241 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98771 | &nbsp;&nbsp; 15605 |
| Riken Keiki Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50400 | &nbsp;&nbsp; 1059 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7848 | &nbsp;&nbsp; 4448 |
| ServiceNow, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6576 | &nbsp;&nbsp; 6761 |
| ServiceTitan, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10137 | &nbsp;&nbsp; 1086 |
| SHIFT, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;164100 | &nbsp;&nbsp; 1992 |
| Shopify, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51996 | &nbsp;&nbsp; 5998 |
| Snowflake, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp; 7049 |
| Sopra Steria Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20907 | &nbsp;&nbsp; 5093 |
| Teledyne Technologies, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179 | &nbsp;&nbsp; 2141 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15717 | &nbsp;&nbsp; 2428 |
| Workday, Inc. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20156 | &nbsp;&nbsp; 4837 |
| Zebra Technologies Corp. Class A<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6330 | &nbsp;&nbsp; 1952 |
|  |  | &nbsp;&nbsp;101043 |
| **Materials—1.8%** | **Materials—1.8%** |  |
| Corp. Moctezuma SAB de C.V. | &nbsp;&nbsp;&nbsp;&nbsp;943523 | &nbsp;&nbsp; 4063 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15790 | &nbsp;&nbsp; 4254 |
| Forterra plc | &nbsp;&nbsp;&nbsp;&nbsp;640795 | &nbsp;&nbsp; 1733 |
| Ibstock plc | &nbsp;&nbsp;&nbsp;&nbsp;710066 | &nbsp;&nbsp; 1425 |
|  |  | &nbsp;&nbsp; 11475 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate—0.6%** | **Real Estate—0.6%** |  |
| CoStar Group, Inc.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48152 | $3872 |
| **Total Common Stocks<br> (Identified Cost $250,557)** | **Total Common Stocks<br> (Identified Cost $250,557)** | &nbsp;&nbsp;&nbsp;&nbsp;**413843** |
| **Affiliated Mutual Funds—14.0%** | **Affiliated Mutual Funds—14.0%** | **Affiliated Mutual Funds—14.0%** |
| **Fixed Income Funds—14.0%** | **Fixed Income Funds—14.0%** |  |
| Virtus Newfleet ABS MACS<sup>(7)(8)</sup> | 2342775 | &nbsp;&nbsp;&nbsp; 23522 |
| Virtus Newfleet CMBS MACS<sup>(7)(8)</sup> | 1398123 | &nbsp;&nbsp;&nbsp; 14051 |
| Virtus Newfleet Floating Rate MACS<sup>(7)(8)</sup> | 1191699 | &nbsp;&nbsp;&nbsp; 11846 |
| Virtus Newfleet High Yield MACS<sup>(7)(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;959189 | &nbsp;&nbsp;&nbsp; 9486 |
| Virtus Newfleet RMBS MACS<sup>(7)(8)</sup> | 3277588 | &nbsp;&nbsp;&nbsp; 33005 |
| **Total Affiliated Mutual Funds<br> (Identified Cost $91,677)** | **Total Affiliated Mutual Funds<br> (Identified Cost $91,677)** | &nbsp;&nbsp;&nbsp;&nbsp; **91910** |
| **Affiliated Exchange-Traded Fund—0.2%** | **Affiliated Exchange-Traded Fund—0.2%** | **Affiliated Exchange-Traded Fund—0.2%** |
| **Financials—0.2%** | **Financials—0.2%** |  |
| Virtus Newfleet ABS/MBS ETF<sup>(7)(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp; 1203 |
| **Total Affiliated Exchange-Traded Fund<br> (Identified Cost $1,191)** | **Total Affiliated Exchange-Traded Fund<br> (Identified Cost $1,191)** | &nbsp;&nbsp;&nbsp;&nbsp; **1203** |
| **Total Long-Term Investments—97.8%<br> (Identified Cost $486,039)** | **Total Long-Term Investments—97.8%<br> (Identified Cost $486,039)** | &nbsp;&nbsp;&nbsp;&nbsp;**640111** |
| **Short-Term Investment—0.1%** | **Short-Term Investment—0.1%** | **Short-Term Investment—0.1%** |
| **Money Market Mutual Fund—0.1%** | **Money Market Mutual Fund—0.1%** | **Money Market Mutual Fund—0.1%** |
| Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 4.209%)<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;337530 | &nbsp;&nbsp;&nbsp; 338 |
| **Total Short-Term Investment<br> (Identified Cost $338)** | **Total Short-Term Investment<br> (Identified Cost $338)** | &nbsp;&nbsp;&nbsp;&nbsp; **338** |
| **TOTAL INVESTMENTS—97.9%<br> (Identified Cost $486,377)** | **TOTAL INVESTMENTS—97.9%<br> (Identified Cost $486,377)** | &nbsp;&nbsp;**$640449** |
| Other assets and liabilities, net—2.1% | Other assets and liabilities, net—2.1% | &nbsp;&nbsp;&nbsp;&nbsp; 13895 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$654344** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ABS | Asset-Backed Securities |
| BDC | Business Development Companies |
| CMBS | Commercial Mortgage-Backed Securities |
| DAC | Designated Activity Company |
| ETF | Exchange-Traded Fund |
| LLC | Limited Liability Company |
| LP | Limited Partnership |
| MACS | Managed Account Completion Shares |
| MBS | Mortgage-Backed Securities |
| MSCI | Morgan Stanley Capital International |
| plc | Public Limited Company |
| REIT | Real Estate Investment Trust |
| RMBS | Residential Mortgage-Backed Securities |
| S&P | Standard & Poor's |
| SOFR | Secured Overnight Financing Rate |
| ULC | Unlimited Liability Company |

---

See Notes to Schedule of Investments

------

#### VIRTUS Tactical Allocation Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2025, these securities amounted to a value of $22,909 or 3.5% of net assets. |
| <sup>(2)</sup> | No contractual maturity date. |
| <sup>(3)</sup> | Variable rate security. Rate disclosed is as of June 30, 2025. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| <sup>(4)</sup> | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
| <sup>(5)</sup> | Amount is less than $500 (not in thousands). |

---

<sup>(6)</sup> Non-income producing. <br> <sup>(7)</sup> Affiliated investment. <br> <sup>(8)</sup> Shares of this fund are publicly offered, and its prospectus and annual report are publicly available.

---

| | |
|:---|:---|
| **Country Weightings<sup>†</sup>** | **Country Weightings<sup>†</sup>** |
| United States | &nbsp;&nbsp;&nbsp;75% |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Brazil | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Italy | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Lithuania | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other | &nbsp;&nbsp;11 |
| Total | 100% |
| <sup>†</sup> % of total investments as of June 30, 2025. | <sup>†</sup> % of total investments as of June 30, 2025. |

---

The following table summarizes the value of the Fund's investments as of June 30, 2025, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total<br> Value at<br> June 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1<br> Quoted Prices | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 2<br> Significant<br> Observable<br> Inputs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 3<br> Significant<br> Unobservable<br> Inputs |
| Assets: |  |  |  |  |
| Debt Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6455 | &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;6455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Money Market Mutual Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$640449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$507294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$133155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |

---

<sup>(1)</sup> Includes internally fair valued securities currently priced at zero ($0).

There were no transfers into or out of Level 3 related to securities held at June 30, 2025.

Some of the Fund's investments that were categorized as Level 3 may have been valued utilizing third party pricing information without adjustment. If applicable, such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the roll-forward of Level 3 securities and assumptions are not shown for the period ended June 30, 2025.

See Notes to Schedule of Investments

------

#### VIRTUS TACTICAL ALLOCATION FUND

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

#### June 30, 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.

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

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

• 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, 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 and equity-linked instruments, do not require material subjectivity as pricing inputs are observed from actively quoted markets and are categorized as Level 2 in 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 Equity Trust

- **b. Investment Company Act file number:** 811-00945

- **c. CIK number of Registrant:** 0000034273

- **d. LEI of Registrant:** 549300BN8LS7IJSSNN03

- **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 Tactical Allocation Fund

- **b. EDGAR series identifier (if any):** S000021179

- **c. LEI of Series:** 5493000BQ75WRC0WLH98

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $656138831.62

**Total Liabilities:** $1273028.97

**Net Assets:** $654865802.65

**Delayed Delivery Securities:** $99917.00

**Cash Not Reported:** $12516240.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224195 | 1.92%                | 3.58%                | 2.89%                |
| Class ID C000211088 | 1.92%                | 3.57%                | 2.85%                |
| Class ID C000060293 | 1.77%                | 3.47%                | 2.76%                |
| Class ID C000060291 | 1.81%                | 3.56%                | 2.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1057449.57              | $9691958.07                                |
| Month 2  | $1245915.46              | $18871573.59                               |
| Month 3  | $1724416.54              | $14885540.99                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BARCLAYS PLC                                                           | Barclays PLC                                                                    | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    355000 | PA      | $402907.21    | 0.06%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| Caixa Seguridade Participacoes                                         | Caixa Seguridade Participacoes S/A                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   2074636 | NS      | $5605576.28   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECH INC                                                      | L3Harris Technologies Inc                                                       | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    480000 | PA      | $493046.14    | 0.08%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                           | Broadcom Inc                                                                    | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    570000 | PA      | $480760.35    | 0.07%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                               | Saudi Government International Bond                                             | CUSIP: 80413TBD0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    160000 | PA      | $159997.60    | 0.02%             | 2033-07-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Allegion plc                                                           | Allegion plc                                                                    | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |     16263 | NS      | $2343823.56   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                                            | Workday Inc                                                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     20156 | NS      | $4837440.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEOS MEXICANOS                                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     74000 | PA      | $58090.00     | 0.01%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Moltiply Group SpA                                                     | Moltiply Group SpA                                                              | CUSIP: 000000000<br>LEI: 8156004E40D6A02C5046 | Long             | EC               | CORP              | IT        |     51303 | NS      | $2749672.78   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31412YFP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38143 | PA      | $39270.59     | 0.01%             | 2036-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    495000 | PA      | $496624.22    | 0.08%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                                    | Charles Schwab Corp/The                                                         | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    195000 | PA      | $210985.95    | 0.03%             | 2034-08-24      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                               | Prudential Financial Inc                                                        | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    179000 | PA      | $173115.11    | 0.03%             | 2052-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                          | Citigroup Inc                                                                   | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    690000 | PA      | $742972.69    | 0.11%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31412MYW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56256 | PA      | $57694.13     | 0.01%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SiteOne Landscape Supply Inc                                           | SiteOne Landscape Supply Inc                                                    | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |      9766 | NS      | $1181100.04   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                               | Citizens Financial Group Inc                                                    | CUSIP: 174610BH7<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31036.07     | 0.00%             | 2032-07-23      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Lennox International Inc                                               | Lennox International Inc                                                        | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      3537 | NS      | $2027549.88   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                                     | Meta Platforms Inc                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     20281 | NS      | $14969203.29  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sopra Steria Group                                                     | Sopra Steria Group                                                              | CUSIP: 000000000<br>LEI: 96950020QIOHAAK9V551 | Long             | EC               | CORP              | FR        |     20907 | NS      | $5092946.45   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc                                                | O'Reilly Automotive Inc                                                         | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     74114 | NS      | $6679894.82   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                                             | Cadence Design Systems Inc                                                      | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     16692 | NS      | $5143639.80   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| MERITAGE HOMES CORP                                                    | Meritage Homes Corp                                                             | CUSIP: 59001ABG6<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140397.60    | 0.02%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| DICK'S SPORTING GOODS                                                  | Dick's Sporting Goods Inc                                                       | CUSIP: 253393AG7<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |    510000 | PA      | $364428.84    | 0.06%             | 2052-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                                                  | Costa Rica Government International Bond                                        | CUSIP: 221597CV7<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     40000 | PA      | $41414.00     | 0.01%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                       | BAT Capital Corp                                                                | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    330000 | PA      | $381415.81    | 0.06%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Accenture PLC                                                          | Accenture PLC                                                                   | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     11342 | NS      | $3390010.38   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140QSTP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    924822 | PA      | $886071.66    | 0.14%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                                            | Corp Nacional del Cobre de Chile                                                | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    350000 | PA      | $356562.50    | 0.05%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UAE INT'L GOVT BOND                                                    | UAE International Government Bond                                               | CUSIP: 31424EAD4<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |     72000 | PA      | $70634.88     | 0.01%             | 2032-07-07      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    207000 | PA      | $205551.00    | 0.03%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                                      | EOG Resources Inc                                                               | CUSIP: 26875PAW1<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    385000 | PA      | $375817.62    | 0.06%             | 2054-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    230000 | PA      | $212681.03    | 0.03%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Howden Joinery Group PLC                                               | Howden Joinery Group PLC                                                        | CUSIP: 000000000<br>LEI: 213800KC1LJOJTY3JP45 | Long             | EC               | CORP              | GB        |    324982 | NS      | $3818500.80   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                 | Diamondback Energy Inc                                                          | CUSIP: 25278XBB4<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    385000 | PA      | $356329.26    | 0.05%             | 2064-04-18      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| W R Berkley Corp                                                       | W R Berkley Corp                                                                | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     40558 | NS      | $2979796.26   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                                  | Wells Fargo & Co                                                                | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    490000 | PA      | $484977.84    | 0.07%             | N/A             | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                                   | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    463000 | PA      | $489520.64    | 0.07%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                               | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     40667 | NS      | $14438818.35  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1380096 | PA      | $1359204.50   | 0.21%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                                               | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    385000 | PA      | $396965.11    | 0.06%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Progressive Corp/The                                                   | Progressive Corp/The                                                            | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     25332 | NS      | $6760097.52   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                               | Apollo Debt Solutions BDC                                                       | CUSIP: 03770DAB9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    360000 | PA      | $375789.94    | 0.06%             | 2029-04-13      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                   | Bank of America Corp                                                            | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    245000 | PA      | $219869.08    | 0.03%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                                  | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239558.72    | 0.04%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Gartner Inc                                                            | Gartner Inc                                                                     | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      6448 | NS      | $2606410.56   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                                                    | Fifth Third Bancorp                                                             | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    355000 | PA      | $338884.34    | 0.05%             | 2033-04-25      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Corp Moctezuma SAB de CV                                               | Corp Moctezuma SAB de CV                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    943523 | NS      | $4062813.21   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                               | Uruguay Government International Bond                                           | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    302000 | PA      | $278444.00    | 0.04%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2335000 | PA      | $1643256.25   | 0.25%             | 2052-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc                                                 | Intuitive Surgical Inc                                                          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      8099 | NS      | $4401077.59   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE                                                       | Societe Generale SA                                                             | CUSIP: 83368RBX9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    415000 | PA      | $427430.92    | 0.07%             | 2035-01-19      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                                               | Apollo Global Management Inc                                                    | CUSIP: 03769MAD8<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |    475000 | PA      | $463189.32    | 0.07%             | 2054-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Teledyne Technologies Inc                                              | Teledyne Technologies Inc                                                       | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      4179 | NS      | $2140943.49   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                                                | KeyCorp                                                                         | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    600000 | PA      | $640022.70    | 0.10%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 91282CMD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1070000 | PA      | $1096541.02   | 0.17%             | 2029-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                                 | Roper Technologies Inc                                                          | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      7848 | NS      | $4448560.32   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA INC                                                    | DENTSPLY SIRONA Inc                                                             | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    975000 | PA      | $889935.18    | 0.14%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                          | Citigroup Inc                                                                   | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    379000 | PA      | $396748.14    | 0.06%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                                       | MercadoLibre Inc                                                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      2088 | NS      | $5457259.44   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| IVORY COAST                                                            | Ivory Coast Government International Bond                                       | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    120000 | PA      | $115125.60    | 0.02%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                      | State Street Corp                                                               | CUSIP: 857477CG6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    110000 | PA      | $117506.06    | 0.02%             | 2034-11-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                                    | Ashtead Capital Inc                                                             | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    375000 | PA      | $388416.66    | 0.06%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                   | Bank of America Corp                                                            | CUSIP: 06051GMD8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    475000 | PA      | $475004.31    | 0.07%             | 2035-10-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                                | Hungary Government International Bond                                           | CUSIP: 445545AS5<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    275000 | PA      | $285799.25    | 0.04%             | 2032-09-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31409VYN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1958 | PA      | $1999.74      | 0.00%             | 2036-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31411H7D6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4130 | PA      | $4328.17      | 0.00%             | 2037-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                                           | Entergy Corp                                                                    | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    590000 | PA      | $610447.31    | 0.09%             | 2054-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet Commercial Mortgage-Backed Securities Completion Fund  | Virtus Newfleet Commercial Mortgage-Backed Securities Completion Fund           | CUSIP: 92839Q205<br>LEI: 254900GVMTWAZZTHYO11 | Long             | EC               | RF                | US        |   1392265 | NS      | $13992265.60  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                                         | S&P Global Inc                                                                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     10157 | NS      | $5355684.53   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                                             | Zoetis Inc                                                                      | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     30538 | NS      | $4762401.10   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF PERU                                                       | Peruvian Government International Bond                                          | CUSIP: 715638EB4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    240000 | PA      | $239592.00    | 0.04%             | 2035-02-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE                                                  | Nippon Life Insurance Co                                                        | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |     75000 | PA      | $77638.95     | 0.01%             | 2055-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                               | Mars Inc                                                                        | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    485000 | PA      | $483816.01    | 0.07%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                               | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    475000 | PA      | $482886.90    | 0.07%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CoStar Group Inc                                                       | CoStar Group Inc                                                                | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     48152 | NS      | $3871420.80   | 0.59%             |  |  |  | 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        |    190600 | NS      | $2549442.99   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROS FINANCE CORP                                                 | Toll Brothers Finance Corp                                                      | CUSIP: 88947EAX8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100796.75    | 0.02%             | 2035-06-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| HAITIAN INT'L                                                          | Haitian International Holdings Ltd                                              | CUSIP: 000000000<br>LEI: 30030093DDRS825TVP62 | Long             | EC               | CORP              | CN        |   1300006 | NS      | $3378381.06   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                                                     | Royalty Pharma PLC                                                              | CUSIP: 78081BAP8<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    330000 | PA      | $213849.24    | 0.03%             | 2051-09-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| S-1 Corp                                                               | S-1 Corp                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     54645 | NS      | $2777598.55   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                                 | BP Capital Markets PLC                                                          | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    580000 | PA      | $573989.48    | 0.09%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                                       | HF Sinclair Corp                                                                | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    380000 | PA      | $385724.86    | 0.06%             | 2035-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1420000 | PA      | $1382281.25   | 0.21%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Gold Pool                                                           | CUSIP: 3128K64H0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     29893 | PA      | $30349.07     | 0.00%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                                               | Icon Investments Six DAC                                                        | CUSIP: 45115AAC8<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    400000 | PA      | $408791.76    | 0.06%             | 2034-05-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Jack Henry & Associates Inc                                            | Jack Henry & Associates Inc                                                     | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     10879 | NS      | $1960069.43   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                                | Booz Allen Hamilton Inc                                                         | CUSIP: 09951LAC7<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    445000 | PA      | $456798.87    | 0.07%             | 2033-08-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                                   | Saudi Arabian Oil Co                                                            | CUSIP: 80414L2N4<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    355000 | PA      | $357602.15    | 0.05%             | 2034-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XQXV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    687751 | PA      | $700997.00    | 0.11%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                                    | Dominion Energy Inc                                                             | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    280000 | PA      | $300420.96    | 0.05%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                                                  | Brooklyn Union Gas Co/The                                                       | CUSIP: 114259AW4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |    595000 | PA      | $574936.16    | 0.09%             | 2032-08-05      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31371KWJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8021 | PA      | $8342.07      | 0.00%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31418E6X3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2210418 | PA      | $2056146.06   | 0.31%             | 2054-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                  | Foundry JV Holdco LLC                                                           | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    235000 | PA      | $238790.08    | 0.04%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VAT Group AG                                                           | VAT Group AG                                                                    | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Long             | EC               | CORP              | CH        |      5594 | NS      | $2359709.87   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    605000 | PA      | $601596.88    | 0.09%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                                                    | Meritage Homes Corp                                                             | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    191000 | PA      | $184034.67    | 0.03%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                                                     | Sonoco Products Co                                                              | CUSIP: 835495AS1<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    360000 | PA      | $350158.73    | 0.05%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                               | Occidental Petroleum Corp                                                       | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    340000 | PA      | $332679.83    | 0.05%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Ollie's Bargain Outlet Holding                                         | Ollie's Bargain Outlet Holdings Inc                                             | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     14177 | NS      | $1868245.06   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                                                              | Boeing Co/The                                                                   | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    525000 | PA      | $499045.04    | 0.08%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Alten SA                                                               | Alten SA                                                                        | CUSIP: 000000000<br>LEI: 969500Y7G9TY7Y24GN07 | Long             | EC               | CORP              | FR        |     40547 | NS      | $3555906.11   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| As One Corp                                                            | As One Corp                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    250600 | NS      | $4334881.43   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SODEXO INC                                                             | Sodexo Inc                                                                      | CUSIP: 833794AD2<br>LEI: 549300WSZGQGJQXRFU84 | Long             | DBT              | CORP              | US        |    465000 | PA      | $479248.07    | 0.07%             | 2035-08-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                               | Huntington Ingalls Industries Inc                                               | CUSIP: 446413BB1<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    325000 | PA      | $335115.86    | 0.05%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31411JCL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     44865 | PA      | $45975.42     | 0.01%             | 2038-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Shopify Inc                                                            | Shopify Inc                                                                     | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     51996 | NS      | $5997738.60   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Auto Trader Group PLC                                                  | Auto Trader Group PLC                                                           | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |    336984 | NS      | $3813353.61   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| SPRINT CAPITAL CORP                                                    | Sprint Capital Corp                                                             | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    340000 | PA      | $412450.66    | 0.06%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                                        | CMS Energy Corp                                                                 | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    735000 | PA      | $714280.44    | 0.11%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                                | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    230000 | PA      | $234947.36    | 0.04%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| FDM Group Holdings PLC                                                 | FDM Group Holdings PLC                                                          | CUSIP: 000000000<br>LEI: 213800YR62D7GUZLMZ71 | Long             | EC               | CORP              | GB        |    570275 | NS      | $1671252.33   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                                                          | Allegro.eu SA                                                                   | CUSIP: 000000000<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | PL        |    275225 | NS      | $2641262.02   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BPCE SA                                                                | BPCE SA                                                                         | CUSIP: 05571AAS4<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    535000 | PA      | $587767.45    | 0.09%             | 2034-10-19      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                        | CVS Health Corp                                                                 | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    600000 | PA      | $518068.73    | 0.08%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                                                     | Harbour Energy PLC                                                              | CUSIP: 411618AD3<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    475000 | PA      | $472209.52    | 0.07%             | 2035-04-01      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| VERALTO CORP                                                           | Veralto Corp                                                                    | CUSIP: 92338CAF0<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |    420000 | PA      | $433166.59    | 0.07%             | 2033-09-18      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                                                     | Republic of Poland Government International Bond                                | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    275000 | PA      | $272899.00    | 0.04%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                                      | EOG Resources Inc                                                               | CUSIP: 26875PAZ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101412.48    | 0.02%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    874511 | PA      | $875689.17    | 0.13%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                            | Oracle Corp                                                                     | CUSIP: 68389XCK9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    215000 | PA      | $239153.06    | 0.04%             | 2052-11-09      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                           | UBS Group AG                                                                    | CUSIP: 902613AT5<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    550000 | PA      | $548209.17    | 0.08%             | 2033-08-05      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                               | Republic of South Africa Government International Bond                          | CUSIP: 836205AY0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    135000 | PA      | $134460.00    | 0.02%             | 2030-06-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                                     | Dreyfus Government Cash Management                                              | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    313740 | NS      | $313740.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC                                                     | Ally Financial Inc                                                              | CUSIP: 02005NBW9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    385000 | PA      | $390409.81    | 0.06%             | 2031-01-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Block Inc                                                              | Block Inc                                                                       | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     33808 | NS      | $2296577.44   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31374CLW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     67079 | PA      | $71060.12     | 0.01%             | 2037-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                                                 | PAR PHARMACEUTICAL INC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $0.00         | 0.00%             | 2027-04-01      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| COSTA RICA GOVERNMENT                                                  | Costa Rica Government International Bond                                        | CUSIP: 221597CR6<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     65000 | PA      | $67535.00     | 0.01%             | 2034-04-03      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                           | UBS Group AG                                                                    | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     35000 | PA      | $40474.39     | 0.01%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                     | Dominican Republic International Bond                                           | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    417000 | PA      | $384682.50    | 0.06%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                                               | MSCI Inc                                                                        | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    792000 | PA      | $742851.81    | 0.11%             | 2030-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| DRAWBRIDGE SPEC OPPOR FU                                               | Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin | CUSIP: 26150TAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $759073.29    | 0.12%             | 2026-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL POWER US HOLDING                                               | Capital Power US Holdings Inc                                                   | CUSIP: 14041TAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $283769.34    | 0.04%             | 2035-06-01      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                       | Puget Energy Inc                                                                | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    640000 | PA      | $602312.68    | 0.09%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    229000 | PA      | $237974.38    | 0.04%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                         | Morgan Stanley                                                                  | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117806.29    | 0.02%             | 2034-07-21      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                                             | Allianz SE                                                                      | CUSIP: 018820AC4<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $418775.60    | 0.06%             | 2053-09-06      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                                                         | Qatar Government International Bond                                             | CUSIP: 74727PBD2<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    106000 | PA      | $103602.28    | 0.02%             | 2030-04-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL FINANCE LLC                                                   | Blue Owl Finance LLC                                                            | CUSIP: 09581JAR7<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |    610000 | PA      | $541650.48    | 0.08%             | 2031-06-10      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                                 | Marvell Technology Inc                                                          | CUSIP: 573874AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    465000 | PA      | $468235.98    | 0.07%             | 2035-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                                 | Bank of New York Mellon Corp/The                                                | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    710000 | PA      | $708039.69    | 0.11%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet Floating Rate Completion Fund                          | Virtus Newfleet Floating Rate Completion Fund                                   | CUSIP: 92839Q304<br>LEI: 254900KZEW1HA1768U33 | Long             | EC               | RF                | US        |   1183536 | NS      | $11764345.15  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                               | Republic of South Africa Government International Bond                          | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    121000 | PA      | $116368.12    | 0.02%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                                 | Philip Morris International Inc                                                 | CUSIP: 718172DQ9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    460000 | PA      | $457809.86    | 0.07%             | 2034-11-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                                           | Enbridge Inc                                                                    | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    510000 | PA      | $567817.68    | 0.09%             | 2084-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                                                     | Panama Government International Bond                                            | CUSIP: 698299BY9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    219000 | PA      | $234330.00    | 0.04%             | 2038-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5255000 | PA      | $2951832.03   | 0.45%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                                                           | Danaher Corp                                                                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     19750 | NS      | $3901415.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF TURKIYE                                                    | Turkiye Government International Bond                                           | CUSIP: 900123CG3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     80000 | PA      | $67643.20     | 0.01%             | 2045-02-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Zebra Technologies Corp                                                | Zebra Technologies Corp                                                         | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      6330 | NS      | $1951918.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                                          | Amphenol Corp                                                                   | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    140410 | NS      | $13865487.50  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                         | Morgan Stanley                                                                  | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    120000 | PA      | $130284.93    | 0.02%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Pool Corp                                                              | Pool Corp                                                                       | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      6720 | NS      | $1958745.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hemnet Group AB                                                        | Hemnet Group AB                                                                 | CUSIP: 000000000<br>LEI: 5493008VIU67J3HUAR07 | Long             | EC               | CORP              | SE        |    143700 | NS      | $4201230.33   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD                                          | Marriott International Inc/MD                                                   | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     22179 | NS      | $6059524.59   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER                                                | Reinsurance Group of America Inc                                                | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    390000 | PA      | $388714.25    | 0.06%             | 2055-09-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| NICE Information Service Co Lt                                         | NICE Information Service Co Ltd                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    143029 | NS      | $1731693.73   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| QATAR ENERGY                                                           | QatarEnergy                                                                     | CUSIP: 74730DAC7<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |    185000 | PA      | $161571.60    | 0.02%             | 2031-07-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MEITEC Group Holdings Inc                                              | MEITEC Group Holdings Inc                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    117500 | NS      | $2591437.80   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                                                     | Cooper Cos Inc/The                                                              | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     25951 | NS      | $1846673.16   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY INC                                                         | NRG Energy Inc                                                                  | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    433000 | PA      | $475301.94    | 0.07%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                                                             | Airbnb Inc                                                                      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     23398 | NS      | $3096491.32   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                                            | Oracle Corp                                                                     | CUSIP: 68389XCQ6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    122000 | PA      | $114725.43    | 0.02%             | 2053-02-06      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                                    | Nigeria Government International Bond                                           | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    176000 | PA      | $184976.00    | 0.03%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                                  | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BD5<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    340000 | PA      | $347458.22    | 0.05%             | 2035-02-02      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                   | Glencore Funding LLC                                                            | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    505000 | PA      | $455303.29    | 0.07%             | 2031-04-27      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                               | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $260022.19    | 0.04%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                      | Republic of Kenya Government International Bond                                 | CUSIP: 491798AN4<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     76000 | PA      | $71307.00     | 0.01%             | 2036-03-05      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810SP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12795000 | PA      | $6308534.83   | 0.96%             | 2050-08-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                                  | Indonesia Government International Bond                                         | CUSIP: 455780DV5<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    252000 | PA      | $234045.00    | 0.04%             | 2054-02-10      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                               | Capital One Financial Corp                                                      | CUSIP: 14040HCG8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    388000 | PA      | $329034.23    | 0.05%             | 2032-07-29      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corp                                                        | Fair Isaac Corp                                                                 | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      5690 | NS      | $10401092.40  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc                                                    | Thor Industries Inc                                                             | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     18921 | NS      | $1680374.01   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                                           | Exponent Inc                                                                    | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     14595 | NS      | $1090392.45   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                                  | Wells Fargo & Co                                                                | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    445000 | PA      | $486398.84    | 0.07%             | 2034-10-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWK77<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2343226 | PA      | $2242108.38   | 0.34%             | 2054-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810SD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4330000 | PA      | $3202339.44   | 0.49%             | 2048-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Universal Display Corp                                                 | Universal Display Corp                                                          | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15717 | NS      | $2427647.82   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IVORY COAST                                                            | Ivory Coast Government International Bond                                       | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    213000 | PA      | $210071.25    | 0.03%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Heineken Malaysia Bhd                                                  | Heineken Malaysia Bhd                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    478300 | NS      | $2862643.39   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Freee KK                                                               | Freee KK                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     83300 | NS      | $2224148.47   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACK HILLS CORP                                                       | Black Hills Corp                                                                | CUSIP: 092113AW9<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    570000 | PA      | $598073.20    | 0.09%             | 2034-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                                     | Ingersoll Rand Inc                                                              | CUSIP: 45687VAB2<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    460000 | PA      | $481711.60    | 0.07%             | 2033-08-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Ibstock PLC                                                            | Ibstock PLC                                                                     | CUSIP: 000000000<br>LEI: 2138003QHTNX34CN9V93 | Long             | EC               | CORP              | GB        |    710066 | NS      | $1424970.60   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIFT Inc                                                              | SHIFT Inc                                                                       | CUSIP: 000000000<br>LEI: 353800HJXMOPLJ7BO262 | Long             | EC               | CORP              | JP        |    164100 | NS      | $1991922.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                                                 | Brazilian Government International Bond                                         | CUSIP: 105756CF5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    395000 | PA      | $391642.50    | 0.06%             | 2033-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN US INC                                                  | Stellantis Finance US Inc                                                       | CUSIP: 85855CAL4<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    340000 | PA      | $341659.70    | 0.05%             | 2035-03-18      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DTGB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1070746 | PA      | $1072188.05   | 0.16%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                                                | Reliance Industries Ltd                                                         | CUSIP: 759470BB2<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |    310000 | PA      | $274675.50    | 0.04%             | 2032-01-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                                | Booz Allen Hamilton Inc                                                         | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    215000 | PA      | $206538.00    | 0.03%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                               | Western Midstream Operating LP                                                  | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    345000 | PA      | $290154.58    | 0.04%             | 2050-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                                                | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAP4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    575000 | PA      | $551405.03    | 0.08%             | 2055-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                                                  | Universal Health Services Inc                                                   | CUSIP: 913903BA7<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    510000 | PA      | $432899.44    | 0.07%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| MTU Aero Engines AG                                                    | MTU Aero Engines AG                                                             | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |      9752 | NS      | $4333035.36   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BNSF FUNDING TRUST I                                                   | BNSF Funding Trust I                                                            | CUSIP: 05567SAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $381257.80    | 0.06%             | 2055-12-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| SMURFIT KAPPA TREASURY                                                 | Smurfit Kappa Treasury ULC                                                      | CUSIP: 83272GAF8<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |    410000 | PA      | $404582.80    | 0.06%             | 2054-04-03      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                               | Republic of South Africa Government International Bond                          | CUSIP: 836205AX2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     35000 | PA      | $26320.00     | 0.00%             | 2047-09-27      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                              | Amgen Inc                                                                       | CUSIP: 031162DT4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    432000 | PA      | $421803.04    | 0.06%             | 2053-03-02      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                            | Viatris Inc                                                                     | CUSIP: 91533BAC4<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |       524 | PA      | $499.31       | 0.00%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR                                                | Alaska Airlines 2020-1 Class A Pass Through Trust                               | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    611654 | PA      | $612061.39    | 0.09%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                              | IQVIA Inc                                                                       | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    440000 | PA      | $459866.44    | 0.07%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet High Yield Completion Fund                             | Virtus Newfleet High Yield Completion Fund                                      | CUSIP: 92839Q403<br>LEI: 254900FGQQEMGNJ19E23 | Long             | EC               | RF                | US        |    953561 | NS      | $9430721.54   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                                         | ServiceNow Inc                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6576 | NS      | $6760654.08   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XK4Y3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1575258 | PA      | $1551249.30   | 0.24%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                                  | Guatemala Government Bond                                                       | CUSIP: 401494AW9<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     72000 | PA      | $73224.00     | 0.01%             | 2036-06-13      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                                                    | Turkiye Government International Bond                                           | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    340000 | PA      | $348500.00    | 0.05%             | 2034-05-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                                   | Enel Finance International NV                                                   | CUSIP: 29278GBA5<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $456010.48    | 0.07%             | 2032-10-14      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AJ Bell PLC                                                            | AJ Bell PLC                                                                     | CUSIP: 000000000<br>LEI: 213800VNKA7DPWXWJJ36 | Long             | EC               | CORP              | GB        |    844538 | NS      | $5923793.49   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Baltic Classifieds Group PLC                                           | Baltic Classifieds Group PLC                                                    | CUSIP: 000000000<br>LEI: 213800I1RPHCFSSQS969 | Long             | EC               | CORP              | LT        |   1783443 | NS      | $9131200.52   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Epiroc AB                                                              | Epiroc AB                                                                       | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |    186027 | NS      | $3558951.79   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Pason Systems Inc                                                      | Pason Systems Inc                                                               | CUSIP: 702925108<br>LEI: 984500DC6T2FLR969F65 | Long             | EC               | CORP              | CA        |    308809 | NS      | $2784780.26   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Rightmove PLC                                                          | Rightmove PLC                                                                   | CUSIP: 000000000<br>LEI: 2138001JXGCFKBXYB828 | Long             | EC               | CORP              | GB        |    549900 | NS      | $5952512.37   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                               | Ford Motor Credit Co LLC                                                        | CUSIP: 345397G56<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164771.74    | 0.03%             | 2035-02-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                                       | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CY3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    475000 | PA      | $472358.66    | 0.07%             | 2035-09-11      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LPL Financial Holdings Inc                                             | LPL Financial Holdings Inc                                                      | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      8799 | NS      | $3299361.03   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                         | Morgan Stanley                                                                  | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    165000 | PA      | $167845.95    | 0.03%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ServiceTitan Inc                                                       | ServiceTitan Inc                                                                | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10137 | NS      | $1086483.66   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                                 | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    370000 | PA      | $361805.30    | 0.06%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                             | US Bancorp                                                                      | CUSIP: 91159HJU5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    475000 | PA      | $484015.47    | 0.07%             | 2036-02-12      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3870000 | PA      | $3758737.50   | 0.57%             | 2054-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                                                 | Brazilian Government International Bond                                         | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     65000 | PA      | $62107.50     | 0.01%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SEMPRA INFRASTRUCTURE PA                                               | Sempra Infrastructure Partners LP                                               | CUSIP: 81685VAA1<br>LEI: 549300L0B3MD11PUAA07 | Long             | DBT              | CORP              | US        |    729000 | PA      | $620930.58    | 0.09%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                                                | Philippine Government International Bond                                        | CUSIP: 718286DC8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    150000 | PA      | $147150.00    | 0.02%             | 2035-03-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FinecoBank Banca Fineco SpA                                            | FinecoBank Banca Fineco SpA                                                     | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |    187289 | NS      | $4155322.66   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIATION CAPITAL GROUP                                                 | Aviation Capital Group LLC                                                      | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    350000 | PA      | $341064.23    | 0.05%             | 2027-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    938442 | PA      | $899414.71    | 0.14%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     35000 | PA      | $21378.71     | 0.00%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                               | Saudi Government International Bond                                             | CUSIP: 80413TAC3<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    110000 | PA      | $90406.80     | 0.01%             | 2046-10-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Snowflake Inc                                                          | Snowflake Inc                                                                   | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     31500 | NS      | $7048755.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| REGAL REXNORD CORP                                                     | Regal Rexnord Corp                                                              | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    709000 | PA      | $748565.25    | 0.11%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| oOh!media Ltd                                                          | oOh!media Ltd                                                                   | CUSIP: 000000000<br>LEI: 984500D581E7E7A88078 | Long             | EC               | CORP              | AU        |   4254860 | NS      | $4830579.79   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF ANGOLA                                                     | Angolan Government International Bond                                           | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    163000 | PA      | $147515.00    | 0.02%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Forterra PLC                                                           | Forterra PLC                                                                    | CUSIP: 000000000<br>LEI: 213800O5DD6ATBVJAD23 | Long             | EC               | CORP              | GB        |    640795 | NS      | $1732786.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31418ERA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1498029 | PA      | $1527525.80   | 0.23%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Saia Inc                                                               | Saia Inc                                                                        | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      5114 | NS      | $1401184.86   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                                                     | Home Depot Inc/The                                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8913 | NS      | $3267862.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTAR GROUP INC                                                       | CoStar Group Inc                                                                | CUSIP: 22160NAA7<br>LEI: 984500Q1D53D08E2E698 | Long             | DBT              | CORP              | US        |    630000 | PA      | $569231.03    | 0.09%             | 2030-07-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                                | Hungary Government International Bond                                           | CUSIP: 445545AU0<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     98000 | PA      | $94253.46     | 0.01%             | 2036-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                     | Ford Motor Co                                                                   | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    286000 | PA      | $241126.29    | 0.04%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                               | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    470000 | PA      | $481176.60    | 0.07%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                               | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAE2<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    240000 | PA      | $237470.40    | 0.04%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                | HCA Inc                                                                         | CUSIP: 404119BZ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    415000 | PA      | $368669.21    | 0.06%             | 2049-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                            | Netflix Inc                                                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      7116 | NS      | $9529249.08   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                               | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432MT9<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    319000 | PA      | $317426.88    | 0.05%             | 2043-04-30      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                            | Oracle Corp                                                                     | CUSIP: 68389XBY0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    140000 | PA      | $96477.16     | 0.01%             | 2060-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                   | Colombia Government International Bond                                          | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    142000 | PA      | $142887.50    | 0.02%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB37<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    665000 | PA      | $670781.68    | 0.10%             | 2035-07-23      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                  | Mexico Government International Bond                                            | CUSIP: 91087BBF6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $202100.00    | 0.03%             | 2038-01-29      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Kainos Group PLC                                                       | Kainos Group PLC                                                                | CUSIP: 000000000<br>LEI: 213800H2PQMIF3OVZY47 | Long             | EC               | CORP              | GB        |    121419 | NS      | $1240826.81   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                                                            | MetLife Inc                                                                     | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348191.83    | 0.05%             | N/A             | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2250000 | PA      | $2144179.69   | 0.33%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                   | Bank of America Corp                                                            | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    408000 | PA      | $365358.57    | 0.06%             | 2033-02-04      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| ABU DHABI GOVT INT'L                                                   | Abu Dhabi Government International Bond                                         | CUSIP: 29135LAF7<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |    165000 | PA      | $111870.00    | 0.02%             | 2049-09-30      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                                     | Morocco Government International Bond                                           | CUSIP: 617726AL8<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    110000 | PA      | $93115.00     | 0.01%             | 2032-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                | HCA Inc                                                                         | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    235000 | PA      | $237033.76    | 0.04%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet Asset-Backed Securities Completion Fund                | Virtus Newfleet Asset-Backed Securities Completion Fund                         | CUSIP: 92839Q106<br>LEI: 2549002ITWIQU02JEJ86 | Long             | EC               | RF                | US        |   2333011 | NS      | $23423425.52  | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                                                        | Ross Stores Inc                                                                 | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     24961 | NS      | $3184524.38   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italia                                         | Infrastrutture Wireless Italiane SpA                                            | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |    237527 | NS      | $2904271.37   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International In                                         | Choice Hotels International Inc                                                 | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |     13792 | NS      | $1749928.96   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                                                 | IDEXX Laboratories Inc                                                          | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      3392 | NS      | $1819265.28   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                                                     | Trade Desk Inc/The                                                              | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     64474 | NS      | $4641483.26   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT INC                                                           | NNN REIT Inc                                                                    | CUSIP: 637417AT3<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |    350000 | PA      | $358812.26    | 0.05%             | 2034-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                                                 | HA Sustainable Infrastructure Capital Inc                                       | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450027.91    | 0.07%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Nordson Corp                                                           | Nordson Corp                                                                    | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |      8809 | NS      | $1888385.33   | 0.29%             |  |  |  | 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        |  42934000 | NS      | $1306399.51   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEOS MEXICANOS                                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    102000 | PA      | $91963.20     | 0.01%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                         | Morgan Stanley                                                                  | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    249000 | PA      | $256158.09    | 0.04%             | 2038-01-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Equifax Inc                                                            | Equifax Inc                                                                     | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |     20443 | NS      | $5302300.91   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                                                    | Dominion Energy Inc                                                             | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    370000 | PA      | $375503.01    | 0.06%             | 2055-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                               | Occidental Petroleum Corp                                                       | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    235000 | PA      | $230587.31    | 0.04%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                      | Republic of Kenya Government International Bond                                 | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     55000 | PA      | $55773.30     | 0.01%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                                     | Royalty Pharma PLC                                                              | CUSIP: 78081BAR4<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    325000 | PA      | $329281.64    | 0.05%             | 2034-09-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                  | Mexico Government International Bond                                            | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    245000 | PA      | $241692.50    | 0.04%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                                                | Imperial Brands Finance PLC                                                     | CUSIP: 45262BAH6<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    345000 | PA      | $353913.37    | 0.05%             | 2034-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                                | Romanian Government International Bond                                          | CUSIP: 77586RAT7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    194000 | PA      | $194970.00    | 0.03%             | 2029-01-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE                                                  | Nippon Life Insurance Co                                                        | CUSIP: 654579AM3<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $205794.15    | 0.03%             | 2053-09-13      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                                            | Gartner Inc                                                                     | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    595000 | PA      | $556776.25    | 0.09%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWJ46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1160999 | PA      | $1161814.67   | 0.18%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                                       | Berry Global Inc                                                                | CUSIP: 08576PAQ4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    440000 | PA      | $454072.19    | 0.07%             | 2034-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Zurn Elkay Water Solutions Cor                                         | Zurn Elkay Water Solutions Corp                                                 | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |     56815 | NS      | $2077724.55   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                 | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    455000 | PA      | $468954.74    | 0.07%             | 2036-01-29      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XPTH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2182411 | PA      | $2030231.06   | 0.31%             | 2053-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6645000 | PA      | $6061485.94   | 0.93%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                                         | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     62167 | NS      | $13638818.13  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN TRUST CORP                                                    | Northern Trust Corp                                                             | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    590000 | PA      | $572704.04    | 0.09%             | 2032-05-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FLORIDA GAS TRANSMISSION                                               | Florida Gas Transmission Co LLC                                                 | CUSIP: 340711BC3<br>LEI: 549300Q0UQF87NXNOC32 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204666.19    | 0.03%             | 2035-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWGS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3184917 | PA      | $3240491.56   | 0.49%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                               | Apollo Debt Solutions BDC                                                       | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114304.95    | 0.02%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                                    | Charles Schwab Corp/The                                                         | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    260000 | PA      | $241191.38    | 0.04%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                                       | DP World Ltd/United Arab Emirates                                               | CUSIP: 23330JAA9<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    105000 | PA      | $114548.44    | 0.02%             | 2037-07-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2023-1 A PTT                                                | United Airlines 2023-1 Class A Pass Through Trust                               | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    264622 | PA      | $269916.30    | 0.04%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DTQH6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2939906 | PA      | $2648143.87   | 0.40%             | 2054-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31411JDZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27534 | PA      | $28777.51     | 0.00%             | 2038-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NIKE Inc                                                               | NIKE Inc                                                                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     38515 | NS      | $2736105.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEOS MEXICANOS                                                    | Petroleos Mexicanos                                                             | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     64000 | PA      | $61753.60     | 0.01%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| BAYPORT POLYMERS LLC                                                   | Bayport Polymers LLC                                                            | CUSIP: 073096AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $562311.39    | 0.09%             | 2032-04-14      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Rollins Inc                                                            | Rollins Inc                                                                     | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     41791 | NS      | $2357848.22   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I                                         | BJ's Wholesale Club Holdings Inc                                                | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     17475 | NS      | $1884329.25   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                 | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    445000 | PA      | $454879.22    | 0.07%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    940000 | PA      | $839647.66    | 0.13%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Gold Pool                                                           | CUSIP: 3128KSN65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     59523 | PA      | $62472.87     | 0.01%             | 2037-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                             | Ecolab Inc                                                                      | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     15790 | NS      | $4254457.60   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PDK9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    495000 | PA      | $515937.30    | 0.08%             | 2033-09-14      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| UL Solutions Inc                                                       | UL Solutions Inc                                                                | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |     27777 | NS      | $2023832.22   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31402QTS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     67766 | PA      | $70784.37     | 0.01%             | 2034-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| D.R. HORTON INC                                                        | DR Horton Inc                                                                   | CUSIP: 23331ABU2<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |    475000 | PA      | $483671.10    | 0.07%             | 2035-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART                                                | Kinder Morgan Energy Partners LP                                                | CUSIP: 28370TAD1<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |    445000 | PA      | $508619.28    | 0.08%             | 2040-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                               | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAG7<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     95000 | PA      | $90282.59     | 0.01%             | 2054-10-01      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 31414P6E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45844 | PA      | $46581.52     | 0.01%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Watsco Inc                                                             | Watsco Inc                                                                      | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |      4834 | NS      | $2134791.08   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                                   | Colombia Government International Bond                                          | CUSIP: 195325ER2<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    125000 | PA      | $129312.50    | 0.02%             | 2030-04-25      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Paycom Software Inc                                                    | Paycom Software Inc                                                             | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      9764 | NS      | $2259389.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MISUMI Group Inc                                                       | MISUMI Group Inc                                                                | CUSIP: 000000000<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |    160400 | NS      | $2150844.76   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                               | Corebridge Financial Inc                                                        | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    565000 | PA      | $563124.31    | 0.09%             | 2054-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                               | Uruguay Government International Bond                                           | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     78000 | PA      | $69108.00     | 0.01%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                                    | Southern California Edison Co                                                   | CUSIP: 842400ES8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    355000 | PA      | $363655.46    | 0.06%             | 2034-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140XNM50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1545108 | PA      | $1571892.14   | 0.24%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                            | Freddie Mac Pool                                                                | CUSIP: 3132DWH30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    916035 | PA      | $932395.35    | 0.14%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                                                    | Turkiye Government International Bond                                           | CUSIP: 900123DQ0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    140000 | PA      | $140560.00    | 0.02%             | 2032-05-29      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutio                                         | Bright Horizons Family Solutions Inc                                            | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14047 | NS      | $1736068.73   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                                                      | State Street Corp                                                               | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    240000 | PA      | $250630.08    | 0.04%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Bentley Systems Inc                                                    | Bentley Systems Inc                                                             | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     56285 | NS      | $3037701.45   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AIR 21-1 A PPT                                                 | British Airways 2021-1 Class A Pass Through Trust                               | CUSIP: 11042CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    507041 | PA      | $456679.48    | 0.07%             | 2035-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet ABS/MBS ETF                                            | Virtus Newfleet ABS/MBS ETF                                                     | CUSIP: 92790A603<br>LEI: 549300OXQOLOW6OELM19 | Long             | EC               | RF                | US        |     49000 | NS      | $1202950.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFEHOLD GL HOLDINGS LLC                                               | Safehold GL Holdings LLC                                                        | CUSIP: 785931AB2<br>LEI: 54930012UY5Z4Q8NL108 | Long             | DBT              | CORP              | US        |    475000 | PA      | $474559.77    | 0.07%             | 2035-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                                         | Eli Lilly & Co                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      7026 | NS      | $5476977.78   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                                            | NVIDIA Corp                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     98771 | NS      | $15604830.29  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                                                          | Allstate Corp/The                                                               | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    370000 | PA      | $369863.36    | 0.06%             | 2053-08-15      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| ASCOT GROUP LTD                                                        | Ascot Group Ltd                                                                 | CUSIP: 04365XAA6<br>LEI: 213800DJV7WRJBE2II28 | Long             | DBT              | CORP              | BM        |    745000 | PA      | $684187.60    | 0.10%             | 2030-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                             | Fannie Mae Pool                                                                 | CUSIP: 3140W0XP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2580480 | PA      | $2624488.35   | 0.40%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLEX INTERMEDIATE HOLDCO                                               | Flex Intermediate Holdco LLC                                                    | CUSIP: 33939HAA7<br>LEI: 549300290TQIGM30A243 | Long             | DBT              | CORP              | US        |    785000 | PA      | $697730.09    | 0.11%             | 2031-06-30      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3840000 | PA      | $3132000.00   | 0.48%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Mortgage Advice Bureau Holding                                         | Mortgage Advice Bureau Holdings Ltd                                             | CUSIP: 000000000<br>LEI: 2138008AY1RA61T6W960 | Long             | EC               | CORP              | GB        |    168832 | NS      | $2039375.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                                            | Chemed Corp                                                                     | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      2561 | NS      | $1247027.73   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                                                    | American Express Co                                                             | CUSIP: 025816DK2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    670000 | PA      | $685133.16    | 0.10%             | 2034-07-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810SL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2045000 | PA      | $1200798.44   | 0.18%             | 2050-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NY STATE ELECTRIC & GAS                                                | New York State Electric & Gas Corp                                              | CUSIP: 649840CV5<br>LEI: 549300GEC6J0YHUXA160 | Long             | DBT              | CORP              | US        |    320000 | PA      | $335736.11    | 0.05%             | 2033-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Hamilton Lane Inc                                                      | Hamilton Lane Inc                                                               | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      8141 | NS      | $1156998.92   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO-DOMINION BANK                                                  | Toronto-Dominion Bank/The                                                       | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    440000 | PA      | $459539.08    | 0.07%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                      | NatWest Group PLC                                                               | CUSIP: 639057AP3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $408320.13    | 0.06%             | 2034-06-01      | Fixed         | 6.47%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                    | JPMorgan Chase & Co                                                             | CUSIP: 46647PBX3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    635000 | PA      | $550678.14    | 0.08%             | 2032-02-04      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                               | Prudential Financial Inc                                                        | CUSIP: 744320BL5<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    285000 | PA      | $298553.75    | 0.05%             | 2053-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO                                                | Columbia Pipelines Operating Co LLC                                             | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $241335.05    | 0.04%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                                                     | Smith & Nephew PLC                                                              | CUSIP: 83192PAD0<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |    580000 | PA      | $588263.26    | 0.09%             | 2034-03-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2024-1 AA PTT                                               | United Airlines 2024-1 Class AA Pass Through Trust                              | CUSIP: 90932WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24782 | PA      | $25010.93     | 0.00%             | 2037-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                                     | Serbia International Bond                                                       | CUSIP: 817477AH5<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     76000 | PA      | $79857.38     | 0.01%             | 2033-09-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                               | Electricite de France SA                                                        | CUSIP: 28504DAD5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    425000 | PA      | $453514.30    | 0.07%             | 2053-05-23      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Qualitas Controladora SAB de C                                         | Qualitas Controladora SAB de CV                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     74544 | NS      | $766276.33    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Knorr-Bremse AG                                                        | Knorr-Bremse AG                                                                 | CUSIP: 000000000<br>LEI: 5299001GRRO0Z25YZT52 | Long             | EC               | CORP              | DE        |     23479 | NS      | $2269264.07   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                               | Capital One Financial Corp                                                      | CUSIP: 14040HDA0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    105000 | PA      | $111783.36    | 0.02%             | 2034-06-08      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Bouvet ASA                                                             | Bouvet ASA                                                                      | CUSIP: 000000000<br>LEI: 5967007LIEEXZXFMBC26 | Long             | EC               | CORP              | NO        |    488091 | NS      | $3859441.31   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PT PERTAMINA (PERSERO)                                                 | Pertamina Persero PT                                                            | CUSIP: 69370PAA9<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |    370000 | PA      | $379250.00    | 0.06%             | 2044-05-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                                | El Salvador Government International Bond                                       | CUSIP: 283875BW1<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     82000 | PA      | $85515.75     | 0.01%             | 2029-02-28      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                                                   | Petronas Capital Ltd                                                            | CUSIP: 716743AX7<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    163000 | PA      | $164820.71    | 0.03%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Haw Par Corp Ltd                                                       | Haw Par Corp Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    494700 | NS      | $4661035.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AUST & NZ BANKING GROUP                                                | Australia & New Zealand Banking Group Ltd                                       | CUSIP: 052528AV8<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    350000 | PA      | $355491.94    | 0.05%             | 2036-06-18      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Virtus Newfleet Residential Mortgage-Backed Securities Completion Fund | Virtus Newfleet Residential Mortgage-Backed Securities Completion Fund          | CUSIP: 92839Q502<br>LEI: 254900G2LHZGHTBHPK18 | Long             | EC               | RF                | US        |   3265670 | NS      | $32885296.98  | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dayamitra Telekomunikasi PT                                            | Dayamitra Telekomunikasi PT                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |  70846846 | NS      | $2421927.90   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                               | Saudi Government International Bond                                             | CUSIP: 80413TBL2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $208226.00    | 0.03%             | 2035-01-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Riken Keiki Co Ltd                                                     | Riken Keiki Co Ltd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     50400 | NS      | $1058713.24   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                                        | United States Treasury Note/Bond                                                | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    425000 | PA      | $346939.45    | 0.05%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Interactive Brokers Group Inc                                          | Interactive Brokers Group Inc                                                   | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     53687 | NS      | $2974796.67   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK FUNDING INC                                                  | BlackRock Funding Inc                                                           | CUSIP: 09290DAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    485000 | PA      | $465118.88    | 0.07%             | 2054-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                                   | Republic of Uzbekistan International Bond                                       | CUSIP: 91824PAA5<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     45000 | PA      | $46167.30     | 0.01%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                                                 | Global Atlantic Fin Co                                                          | CUSIP: 37959GAD9<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    197000 | PA      | $223134.26    | 0.03%             | 2033-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                                                  | Uber Technologies Inc                                                           | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     80853 | NS      | $7543584.90   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Virtus Equity Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer