# EDGAR Filing Document

**Accession Number:** 0002025137
**File Stem:** 0000940400-25-010904
**Filing Date:** 2025-11
**Character Count:** 59494
**Document Hash:** 213f507e046a2a797c70bc5d72259b8b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010904.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000940400-25-010904

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Managed Account Completion Shares (MACS) Trust
- **CENTRAL INDEX KEY:** 0002025137

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23968
- **FILM NUMBER:** 251527476

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 860-263-4790

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Virtus Solutions SMA Trust
- **DATE OF NAME CHANGE:** 20240530

## Series and Classes Contracts Data

### Virtus Newfleet RMBS MACS (Series ID: S000086626)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000252214 | Virtus Newfleet RMBS MACS | VMAJX           |

## Nport-Ex

**VIRTUS Newfleet RMBS MACS**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**September 30, 2025**

($ reported in thousands)

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

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Mortgage-Backed Securities—86.8%** | **Mortgage-Backed Securities—86.8%** | **Mortgage-Backed Securities—86.8%** |
| **Non-Agency—86.8%** | **Non-Agency—86.8%** |  |
| A&D Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2023-NQM3, A1 144A <br>6.733%, 7/25/68<sup>(1)(2)</sup> <br>| $927 | &nbsp;&nbsp; $936 |
| &nbsp;&nbsp;&nbsp; 2025-NQM2, A1 144A <br>5.790%, 6/25/70<sup>(1)(2)</sup> <br>| 537 | &nbsp;&nbsp; 542 |
| &nbsp;&nbsp;&nbsp; Ajax Mortgage Loan Trust 2019-D, A1 144A <br>2.956%, 9/25/65<sup>(1)(2)</sup> <br>| 1060 | &nbsp;&nbsp; 1024 |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2020-4, A1 144A <br>1.469%, 6/25/65<sup>(1)(2)</sup> <br>| 163 | &nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp; 2021-8, A1 144A <br>1.820%, 11/25/66<sup>(1)(2)</sup> <br>| 101 | &nbsp;&nbsp; 91 |
| &nbsp;&nbsp;&nbsp; 2022-5, A1 144A <br>4.500%, 5/25/67<sup>(1)(2)</sup> <br>| 578 | &nbsp;&nbsp; 575 |
| &nbsp;&nbsp;&nbsp; 2023-1, A1 144A <br>4.750%, 9/26/67<sup>(1)(2)</sup> <br>| 271 | &nbsp;&nbsp; 270 |
| Arroyo Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2019-1, A1 144A <br>3.805%, 1/25/49<sup>(1)(2)</sup> <br>| 239 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;&nbsp; 2019-2, A1 144A <br>3.347%, 4/25/49<sup>(1)(2)</sup> <br>| 605 | &nbsp;&nbsp; 589 |
| &nbsp;&nbsp;&nbsp; 2022-1, A1B 144A <br>3.269%, 12/25/56<sup>(1)(2)</sup> <br>| 670 | &nbsp;&nbsp; 627 |
| &nbsp;&nbsp;&nbsp; CIM Trust 2022-R2, A1 144A <br>3.750%, 12/25/61<sup>(1)(2)</sup> <br>| 843 | &nbsp;&nbsp; 804 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. 2018-RP1, A1 144A <br>3.000%, 9/25/64<sup>(1)(2)</sup> <br>| 108 | &nbsp;&nbsp; 106 |
| CoreVest American Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2019-3, C 144A <br>3.265%, 10/15/52<sup>(1)</sup> <br>| 295 | &nbsp;&nbsp; 278 |
| &nbsp;&nbsp;&nbsp; 2020-3, A 144A <br>1.358%, 8/15/53<sup>(1)</sup> <br>| 37 | &nbsp;&nbsp; 36 |
| Credit Suisse Mortgage Capital Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2017-RPL1, A1 144A <br>2.750%, 7/25/57<sup>(1)(2)</sup> <br>| 171 | &nbsp;&nbsp; 168 |
| &nbsp;&nbsp;&nbsp; 2020-NQM1, A1 144A <br>2.208%, 5/25/65<sup>(1)(2)</sup> <br>| 37 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; 2020-RPL4, A1 144A <br>2.000%, 1/25/60<sup>(1)(2)</sup> <br>| 397 | &nbsp;&nbsp; 360 |
| &nbsp;&nbsp;&nbsp; EFMT 2025-NQM2, A1 144A <br>5.596%, 6/25/70<sup>(1)(2)</sup> <br>| 344 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp; Ellington Financial Mortgage Trust 2019-2, A3 144A <br>3.046%, 11/25/59<sup>(1)(2)</sup> <br>| 371 | &nbsp;&nbsp; 355 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust 2021-SFR1, D 144A <br>2.189%, 8/17/38<sup>(1)</sup> <br>| 420 | &nbsp;&nbsp; 410 |
| &nbsp;&nbsp;&nbsp; Flagstar Mortgage Trust 2017-1, 1A3 144A <br>3.500%, 3/25/47<sup>(1)(2)</sup> <br>| 68 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Galton Funding Mortgage Trust 2018-1, A23 144A <br>3.500%, 11/25/57<sup>(1)(2)</sup> <br>| 223 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; Homes Trust 2023-NQM2, A1 144A <br>6.456%, 2/25/68<sup>(1)(2)</sup> <br>| 1218 | &nbsp;&nbsp; 1225 |
| &nbsp;&nbsp;&nbsp; Imperial Fund Mortgage Trust 2022-NQM3, A1 144A <br>4.380%, 5/25/67<sup>(1)(2)</sup> <br>| 1192 | &nbsp;&nbsp; 1188 |
| JPMorgan Chase Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2014-1, 2A12 144A <br>3.500%, 1/25/44<sup>(1)(2)</sup> <br>| 37 | &nbsp;&nbsp; 35 |
| &nbsp;&nbsp;&nbsp; 2017-3, 2A2 144A <br>2.500%, 8/25/47<sup>(1)(2)</sup> <br>| 30 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; 2017-4, A3 144A <br>3.500%, 11/25/48<sup>(1)(2)</sup> <br>| 71 | &nbsp;&nbsp; 65 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Non-Agency—continued** | **Non-Agency—continued** |  |
| &nbsp;&nbsp;&nbsp; 2017-5, A1 144A <br>4.967%, 10/26/48<sup>(1)(2)</sup> <br>| $22 | &nbsp;&nbsp; $22 |
| &nbsp;&nbsp;&nbsp; 2018-7FRB, A2 (1 month Term SOFR + 0.864%) 144A <br>5.022%, 4/25/46<sup>(1)(2)</sup> <br>| 845 | &nbsp;&nbsp; 831 |
| &nbsp;&nbsp;&nbsp; 2024-CES1, A1A 144A <br>5.919%, 6/25/54<sup>(1)(2)</sup> <br>| 163 | &nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp; 2025-CES1, A1 144A <br>5.666%, 5/25/55<sup>(1)(2)</sup> <br>| 315 | &nbsp;&nbsp; 317 |
| &nbsp;&nbsp;&nbsp; 2025-NQM2, A1 144A <br>5.567%, 9/25/65<sup>(1)(2)</sup> <br>| 448 | &nbsp;&nbsp; 452 |
| MetLife Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2017-1A, M1 144A <br>3.411%, 4/25/55<sup>(1)(2)</sup> <br>| 1110 | &nbsp;&nbsp; 1014 |
| &nbsp;&nbsp;&nbsp; 2019-1A, A1A 144A <br>3.750%, 4/25/58<sup>(1)(2)</sup> <br>| 38 | &nbsp;&nbsp; 38 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-INV2, A1 144A <br>4.950%, 7/25/57<sup>(1)(2)</sup> <br>| 1149 | &nbsp;&nbsp; 1146 |
| &nbsp;&nbsp;&nbsp; 2022-NQM2, A1 144A <br>4.000%, 5/25/67<sup>(1)(2)</sup> <br>| 388 | &nbsp;&nbsp; 383 |
| &nbsp;&nbsp;&nbsp; 2024-NQM2, A1 144A <br>5.272%, 8/25/69<sup>(1)(2)</sup> <br>| 830 | &nbsp;&nbsp; 831 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2017-1, M2 144A <br>3.250%, 11/25/58<sup>(1)(2)</sup> <br>| 53 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; 2019-1, M2 144A <br>3.500%, 10/25/69<sup>(1)(2)</sup> <br>| 774 | &nbsp;&nbsp; 718 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2014-1A, A 144A <br>3.750%, 1/25/54<sup>(1)(2)</sup> <br>| 179 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; 2015-2A, A1 144A <br>3.750%, 8/25/55<sup>(1)(2)</sup> <br>| 132 | &nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; 2016-4A, A1 144A <br>3.750%, 11/25/56<sup>(1)(2)</sup> <br>| 61 | &nbsp;&nbsp; 59 |
| &nbsp;&nbsp;&nbsp; 2017-2A, A3 144A <br>4.000%, 3/25/57<sup>(1)(2)</sup> <br>| 356 | &nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp; 2021-NQ2R, A1 144A <br>0.941%, 10/25/58<sup>(1)(2)</sup> <br>| 193 | &nbsp;&nbsp; 185 |
| &nbsp;&nbsp;&nbsp; 2022-NQM2, A1 144A <br>3.079%, 3/27/62<sup>(1)(2)</sup> <br>| 72 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; 2016-2A, A1 144A <br>3.750%, 11/26/35<sup>(1)(2)</sup> <br>| 30 | &nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp; 2018-1A, A1A 144A <br>4.000%, 12/25/57<sup>(1)(2)</sup> <br>| 236 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; NLT Trust 2021-INV2, A1 144A <br>1.162%, 8/25/56<sup>(1)(2)</sup> <br>| 500 | &nbsp;&nbsp; 438 |
| &nbsp;&nbsp;&nbsp; NYMT Loan Trust 2024-CP1, A1 144A <br>3.750%, 2/25/68<sup>(1)(2)</sup> <br>| 588 | &nbsp;&nbsp; 545 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2023-NQM5, A1A 144A <br>6.567%, 6/25/63<sup>(1)(2)</sup> <br>| 190 | &nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp; 2023-NQM9, A1 144A <br>7.159%, 10/25/63<sup>(1)(2)</sup> <br>| 676 | &nbsp;&nbsp; 687 |
| &nbsp;&nbsp;&nbsp; 2024-NQM16, A1 144A <br>5.530%, 10/25/64<sup>(1)(2)</sup> <br>| 391 | &nbsp;&nbsp; 393 |
| &nbsp;&nbsp;&nbsp; Palisades Mortgage Loan Trust 2021-RTL1, A1 144A <br>3.487%, 6/25/26<sup>(1)(2)</sup> <br>| 86 | &nbsp;&nbsp; 86 |
| &nbsp;&nbsp;&nbsp; PRET Trust 2025-NPL1, A1 144A <br>6.063%, 2/25/55<sup>(1)(2)</sup> <br>| 660 | &nbsp;&nbsp; 662 |
| &nbsp;&nbsp;&nbsp; PRKCM Trust 2022-AFC1, A1A 144A <br>4.100%, 4/25/57<sup>(1)(2)</sup> <br>| 667 | &nbsp;&nbsp; 663 |

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet RMBS MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Non-Agency—continued** | **Non-Agency—continued** |  |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust 2021-SFR3, D 144A <br>2.288%, 5/17/26<sup>(1)</sup> <br>| $665 | &nbsp;&nbsp; $658 |
| &nbsp;&nbsp;&nbsp; Provident Funding Mortgage Trust 2025-1, A3 144A <br>5.500%, 2/25/55<sup>(1)(2)</sup> <br>| 367 | &nbsp;&nbsp; 369 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2020-1, A1 144A <br>3.000%, 2/25/50<sup>(1)(2)</sup> <br>| 193 | &nbsp;&nbsp; 167 |
| &nbsp;&nbsp;&nbsp; 2023-CES1, A1A 144A <br>6.515%, 6/25/43<sup>(1)(2)</sup> <br>| 204 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Residential Mortgage Loan Trust 2020-1, A1 144A <br>2.376%, 1/26/60<sup>(1)(2)</sup> <br>| 15 | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust 2013-8, B1 <br>3.481%, 6/25/43<sup>(2)</sup> <br>| 67 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust 2021-5, A2 144A <br>2.178%, 9/25/66<sup>(1)(2)</sup> <br>| 692 | &nbsp;&nbsp; 601 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2016-4, B1 144A <br>3.967%, 7/25/56<sup>(1)(2)</sup> <br>| 885 | &nbsp;&nbsp; 862 |
| &nbsp;&nbsp;&nbsp; 2017-1, M1 144A <br>3.750%, 10/25/56<sup>(1)(2)</sup> <br>| 320 | &nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp; 2017-4, A2 144A <br>3.000%, 6/25/57<sup>(1)(2)</sup> <br>| 405 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;&nbsp; 2018-2, A2 144A <br>3.500%, 3/25/58<sup>(1)(2)</sup> <br>| 895 | &nbsp;&nbsp; 872 |
| &nbsp;&nbsp;&nbsp; 2018-6, A1A 144A <br>3.750%, 3/25/58<sup>(1)(2)</sup> <br>| 16 | &nbsp;&nbsp; 16 |
| &nbsp;&nbsp;&nbsp; 2018-6, A2 144A <br>3.750%, 3/25/58<sup>(1)(2)</sup> <br>| 1190 | &nbsp;&nbsp; 1100 |
| &nbsp;&nbsp;&nbsp; 2019-1, A1 144A <br>3.750%, 3/25/58<sup>(1)(2)</sup> <br>| 249 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; 2019-2, A2 144A <br>3.750%, 12/25/58<sup>(1)(2)</sup> <br>| 790 | &nbsp;&nbsp; 718 |
| &nbsp;&nbsp;&nbsp; 2019-4, A2 144A <br>3.250%, 10/25/59<sup>(1)(2)</sup> <br>| 965 | &nbsp;&nbsp; 878 |
| &nbsp;&nbsp;&nbsp; 2019-HY2, M1 (1 month Term SOFR + 1.714%, Cap <br> N/A, Floor 1.600%) 144A <br>5.872%, 5/25/58<sup>(1)(2)</sup> <br>| 215 | &nbsp;&nbsp; 216 |
| &nbsp;&nbsp;&nbsp; 2020-MH1, A2 144A <br>2.500%, 2/25/60<sup>(1)(2)</sup> <br>| 1115 | &nbsp;&nbsp; 1071 |
| &nbsp;&nbsp;&nbsp; 2021-1, A2 144A <br>2.750%, 11/25/61<sup>(1)(2)</sup> <br>| 1595 | &nbsp;&nbsp; 1371 |
| &nbsp;&nbsp;&nbsp; 2023-1, A1 144A <br>3.750%, 1/25/63<sup>(1)</sup> <br>| 69 | &nbsp;&nbsp; 67 |
| &nbsp;&nbsp;&nbsp; 2024-1, A1 144A <br>4.876%, 3/25/64<sup>(1)(2)</sup> <br>| 134 | &nbsp;&nbsp; 136 |
| &nbsp;&nbsp;&nbsp; Tricon American Homes Trust 2020-SFR2, D 144A <br>2.281%, 11/17/39<sup>(1)</sup> <br>| 1105 | &nbsp;&nbsp; 1042 |
| &nbsp;&nbsp;&nbsp; Tricon Residential Trust 2021-SFR1, B 144A <br>2.244%, 7/17/38<sup>(1)</sup> <br>| 775 | &nbsp;&nbsp; 760 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2023-1, A1 144A <br>5.850%, 12/25/67<sup>(1)(2)</sup> <br>| 64 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; 2023-8, A1 144A <br>6.259%, 12/25/68<sup>(1)(2)</sup> <br>| 728 | &nbsp;&nbsp; 736 |
| Visio Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2019-2, A1 144A <br>2.722%, 11/25/54<sup>(1)(2)</sup> <br>| 8 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; 2020-1R, A2 144A <br>1.567%, 11/25/55<sup>(1)</sup> <br>| 73 | &nbsp;&nbsp; 70 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Non-Agency—continued** | **Non-Agency—continued** |  |
| &nbsp;&nbsp;&nbsp; 2021-1R, A1 144A <br>1.280%, 5/25/56<sup>(1)</sup> <br>| $114 | &nbsp;&nbsp; $106 |
| &nbsp;&nbsp;&nbsp; 2022-1, A2 144A <br>5.850%, 8/25/57<sup>(1)(2)</sup> <br>| 286 | &nbsp;&nbsp; 285 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Mortgage Backed Securities Trust 2020-4, <br> A1 144A <br>3.000%, 7/25/50<sup>(1)(2)</sup> <br>| 45 | &nbsp;&nbsp; 39 |
| **Total Mortgage-Backed Securities** <br>**(Identified Cost $36,359)** | **Total Mortgage-Backed Securities** <br>**(Identified Cost $36,359)** | &nbsp;&nbsp; **35044** |
| **Asset-Backed Securities—4.8%** | **Asset-Backed Securities—4.8%** | **Asset-Backed Securities—4.8%** |
| **Other—4.8%** | **Other—4.8%** |  |
| &nbsp;&nbsp;&nbsp; CoreVest American Finance Trust 2018-1, D 144A <br>4.920%, 6/15/51<sup>(1)</sup> <br>| 232 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust 2021-SFR6, D 144A <br>2.225%, 7/17/38<sup>(1)</sup> <br>| 145 | &nbsp;&nbsp; 142 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2024-CES1, A1A 144A <br>6.025%, 2/25/44<sup>(1)(2)</sup> <br>| 291 | &nbsp;&nbsp; 294 |
| &nbsp;&nbsp;&nbsp; 2025-CES5, A1A 144A <br>5.687%, 5/25/55<sup>(1)(2)</sup> <br>| 442 | &nbsp;&nbsp; 448 |
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust 2024-CES1, A1A 144A <br>5.848%, 1/25/64<sup>(1)(2)</sup> <br>| 826 | &nbsp;&nbsp; 832 |
|  |  | &nbsp;&nbsp; 1949 |
| **Total Asset-Backed Securities** <br>**(Identified Cost $1,926)** | **Total Asset-Backed Securities** <br>**(Identified Cost $1,926)** | &nbsp;&nbsp; **1949** |
| **Total Long-Term Investments—91.6%** <br>**(Identified Cost $38,285)** | **Total Long-Term Investments—91.6%** <br>**(Identified Cost $38,285)** | &nbsp;&nbsp; **36993** |
| **TOTAL INVESTMENTS—91.6%** <br>**(Identified Cost $38,285)** | **TOTAL INVESTMENTS—91.6%** <br>**(Identified Cost $38,285)** | &nbsp;&nbsp; **$36993** |
| Other assets and liabilities, net—8.4% | Other assets and liabilities, net—8.4% | &nbsp;&nbsp; 3400 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp; **$40393** |

---

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

---

| | |
|:---|:---|
| **Abbreviation:** | **Abbreviation:** |
| SOFR | Secured Overnight Financing Rate |

---

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

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Security exempt from registration under Rule 144A of the Securities Act of 1933. <br> These securities may be resold in transactions exempt from registration, normally <br> to qualified institutional buyers. At September 30, 2025, these securities <br> amounted to a value of $36,928 or 91.4% of net assets.<br>|
| <sup>(2)</sup> <br>| Variable rate security. Rate disclosed is as of September 30, 2025. Information in <br> parenthesis represents benchmark and reference rate for each security. Certain <br> variable rate securities are not based on a published reference rate and spread but <br> are determined by the issuer or agent and are based on current market conditions, <br> or, for mortgage-backed securities, are impacted by the individual mortgages <br> which are paying off over time. These securities do not indicate a reference rate <br> and spread in their descriptions.<br>|

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet RMBS MACS**

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

**September 30, 2025**

($ reported in thousands)

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

---

| | | |
|:---|:---|:---|
|  | Total <br>Value at <br>September 30, 2025<br>| Level 2 <br>Significant <br>Observable <br>Inputs<br>|
| Assets: |  |  |
| Debt Instruments: |  |  |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $35044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $35044 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1949 |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $36993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $36993 |

---

There were no securities valued using quoted prices (Level 1) or significant unobservable inputs (Level 3) at September 30, 2025.

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

See Notes to Schedule of Investments

------

**VIRTUS NEWFLEET RMBS MACS**

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

**September 30, 2025**

**(Unaudited)**

**Note 1. Security Valuation**

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

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

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

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

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

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

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

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

Listed derivatives, such as options, 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 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 Managed Account Completion Shares (MACS) Trust

- **b. Investment Company Act file number:** 811-23968

- **c. CIK number of Registrant:** 0002025137

- **d. LEI of Registrant:** 254900XYJHIHC7455V12

- **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:** 860-263-4790

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

- **a. Name of Series:** Virtus Newfleet RMBS MACS

- **b. EDGAR series identifier (if any):** S000086626

- **c. LEI of Series:** 254900G2LHZGHTBHPK18

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

- **a. Date of fiscal year-end:** 2026-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $40449638.60

**Total Liabilities:** $236319.40

**Net Assets:** $40213319.20

**Cash Not Reported:** $3343665.58

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** -40.96684619 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** -12248.76274000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** -1.25815033 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** -472.43690810

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000252214 | 0.17%                | 1.18%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-34949.82               | $-102519.83                                |
| Month 2  | $-67045.04               | $419609.45                                 |
| Month 3  | $-41445.66               | $31439.52                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2021-1                    | CUSIP: 89179YAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1595000 | PA      | $1370935.36   | 3.41%             | 2061-11-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust       | Mill City Mortgage Loan Trust 2019-1                | CUSIP: 59981AAH9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    773575 | PA      | $717989.07    | 1.79%             | 2069-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2024-NQM2 Trust                                 | CUSIP: 58004JAA0<br>LEI: 254900MMVXALAH2X8D73 | Long             | ABS-MBS          | CORP              | US        |    829923 | PA      | $831292.78    | 2.07%             | 2069-08-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                    | HOMES 2023-NQM2 Trust                               | CUSIP: 43761KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1218374 | PA      | $1224986.23   | 3.05%             | 2068-02-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR3                      | CUSIP: 74333VAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    665000 | PA      | $658041.57    | 1.64%             | 2026-05-17      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                     | NLT 2021-INV2 Trust                                 | CUSIP: 62917JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    499955 | PA      | $438179.38    | 1.09%             | 2056-08-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Visio Trust                    | Visio 2022-1 Trust                                  | CUSIP: 92838CAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    286501 | PA      | $285447.92    | 0.71%             | 2057-08-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-2                    | CUSIP: 89177JAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $717970.80    | 1.79%             | 2058-12-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust          | Arroyo Mortgage Trust 2019-1                        | CUSIP: 042859AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    239268 | PA      | $233578.56    | 0.58%             | 2049-01-25      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2025-NPL1 Trust                                | CUSIP: 74143VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    659548 | PA      | $662011.31    | 1.65%             | 2055-02-25      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2017-5                     | CUSIP: 46590YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22037 | PA      | $22267.55     | 0.06%             | 2048-10-26      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | CoreVest American Finance 2018-1 Trust              | CUSIP: 21872BAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232563 | PA      | $232933.33    | 0.58%             | 2051-06-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se | Wells Fargo Mortgage Backed Securities 2020-4 Trust | CUSIP: 95002VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     45308 | PA      | $39170.33     | 0.10%             | 2050-07-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2022-NQM2 Trust                                 | CUSIP: 55285QAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    388347 | PA      | $382952.80    | 0.95%             | 2067-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Visio Trust                    | Visio 2020-1R Trust                                 | CUSIP: 92837MAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     72703 | PA      | $70093.80     | 0.17%             | 2055-11-25      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2017-1                      | CUSIP: 33850BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     68005 | PA      | $62844.01     | 0.16%             | 2047-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC 2017-RPL1 Trust                                | CUSIP: 22945AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    171391 | PA      | $167717.86    | 0.42%             | 2057-07-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2019-2           | CUSIP: 31573TAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    371461 | PA      | $354870.22    | 0.88%             | 2059-11-25      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru | Provident Funding Mortgage Trust 2025-1             | CUSIP: 74388NAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    366837 | PA      | $368777.96    | 0.92%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Tricon Residential             | Tricon Residential 2021-SFR1 Trust                  | CUSIP: 89614YAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    775000 | PA      | $760249.19    | 1.89%             | 2038-07-17      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Visio 2019-2 Trust             | Visio 2019-2 Trust                                  | CUSIP: 92837DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8465 | PA      | $8392.38      | 0.02%             | 2054-11-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| CIM Trust                      | CIM TRUST 2022-R2                                   | CUSIP: 12567NAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    843079 | PA      | $804440.88    | 2.00%             | 2061-12-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust Inc                   | CUSIP: 17326QAA1<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    107933 | PA      | $106310.12    | 0.26%             | 2064-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-4                    | CUSIP: 89178BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    965000 | PA      | $878319.94    | 2.18%             | 2059-10-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2016-4                    | CUSIP: 89172UAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    885000 | PA      | $862009.91    | 2.14%             | 2056-07-25      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-8                   | CUSIP: 92540DAA3<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    727817 | PA      | $735711.65    | 1.83%             | 2068-12-25      | Variable      | 6.26%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC              | Imperial Fund Mortgage Trust 2022-NQM3              | CUSIP: 45276KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1192340 | PA      | $1188054.38   | 2.95%             | 2067-05-25      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust   | METLIFE SECURITIZATION TRUST 2019-1                 | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     38173 | PA      | $37722.53     | 0.09%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-1                   | CUSIP: 92539BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64039 | PA      | $63985.12     | 0.16%             | 2067-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust           | FirstKey Homes 2021-SFR1 Trust                      | CUSIP: 33767WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420000 | PA      | $409695.93    | 1.02%             | 2038-08-17      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2018-2                    | CUSIP: 89175VAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    895000 | PA      | $872082.54    | 2.17%             | 2058-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC 2020-NQM1 Trust                                | CUSIP: 126401AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     36588 | PA      | $34980.01     | 0.09%             | 2065-05-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2020-4                     | CUSIP: 03464LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    163132 | PA      | $156972.53    | 0.39%             | 2065-06-25      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | RCKT Mortgage Trust 2023-CES1                       | CUSIP: 74935WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    203803 | PA      | $205124.34    | 0.51%             | 2043-06-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust       | Ajax Mortgage Loan Trust 2019-D                     | CUSIP: 00968FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1059551 | PA      | $1023763.53   | 2.55%             | 2065-09-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2017-2          | CUSIP: 64829KBV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355887 | PA      | $345796.41    | 0.86%             | 2057-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2021-NQM2R      | CUSIP: 64831EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    192992 | PA      | $184580.69    | 0.46%             | 2058-10-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust          | Arroyo Mortgage Trust 2019-2                        | CUSIP: 042858AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    604884 | PA      | $588692.40    | 1.46%             | 2049-04-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2014-1          | CUSIP: 64828AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    178557 | PA      | $173725.55    | 0.43%             | 2054-01-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2020-MH1                  | CUSIP: 89178YAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1115000 | PA      | $1071382.98   | 2.66%             | 2060-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2023-NQM9 Trust                                 | CUSIP: 673921AA0<br>LEI: 2549007JKD4UEFDCFB08 | Long             | ABS-MBS          | CORP              | US        |    676195 | PA      | $687483.29    | 1.71%             | 2063-10-25      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2013-8                       | CUSIP: 81745EAC3<br>LEI: 549300EU86QZR1NB5U93 | Long             | ABS-MBS          | CORP              | US        |     66576 | PA      | $64757.99     | 0.16%             | 2043-06-25      | Variable      | 3.48%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2018-1          | CUSIP: 64830GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    236223 | PA      | $230980.54    | 0.57%             | 2057-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | RCKT Mortgage Trust 2024-CES1                       | CUSIP: 749424AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    291373 | PA      | $294324.63    | 0.73%             | 2044-02-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2020-1     | RCKT Mortgage Trust 2020-1                          | CUSIP: 749389AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    192885 | PA      | $167225.75    | 0.42%             | 2050-02-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Visio Trust                    | Visio 2021-1R Trust                                 | CUSIP: 92837UAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    113721 | PA      | $106001.78    | 0.26%             | 2056-05-25      | Fixed         | 1.28%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust        | NYMT Loan Trust 2024-CP1                            | CUSIP: 67118PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    587596 | PA      | $545257.54    | 1.36%             | 2068-02-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2022-5                     | CUSIP: 03464HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    578249 | PA      | $574952.81    | 1.43%             | 2067-05-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trus | Residential Mortgage Loan Trust 2020-1              | CUSIP: 76119CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15461 | PA      | $15353.50     | 0.04%             | 2060-01-26      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC 2020-RPL4 Trust                                | CUSIP: 126405AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    397383 | PA      | $359976.28    | 0.90%             | 2060-01-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2018-6                    | CUSIP: 89176LAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1099621.88   | 2.73%             | 2058-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes          | Tricon American Homes 2020-SFR2 Trust               | CUSIP: 89613JAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1105000 | PA      | $1041987.82   | 2.59%             | 2039-11-17      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2018-6                    | CUSIP: 89176LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16123 | PA      | $16010.78     | 0.04%             | 2058-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | CoreVest American Finance 2020-3 Trust              | CUSIP: 21873CAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36686 | PA      | $36104.15     | 0.09%             | 2053-08-15      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2023-NQM5 Trust                                 | CUSIP: 673919AL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190138 | PA      | $191524.53    | 0.48%             | 2063-06-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                    | PRKCM 2022-AFC1 Trust                               | CUSIP: 69377CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    666735 | PA      | $663208.48    | 1.65%             | 2057-04-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2017-4                    | CUSIP: 89173UAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $384310.98    | 0.96%             | 2057-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., | Galton Funding Mortgage Trust 2017-1                | CUSIP: 36417JAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    223377 | PA      | $203586.09    | 0.51%             | 2057-11-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Palisades Mortgage Loan Trust  | Palisades Mortgage Loan Trust 2021-RTL1             | CUSIP: 69639AAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     86345 | PA      | $86344.88     | 0.21%             | 2026-06-25      | Variable      | 3.49%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | RCKT Mortgage Trust 2025-CES5                       | CUSIP: 74942CAA7<br>LEI: 2549008EA2IHW9G2TZ48 | Long             | ABS-MBS          | CORP              | US        |    441853 | PA      | $447911.42    | 1.11%             | 2055-05-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2016-4          | CUSIP: 64829LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     61228 | PA      | $58857.83     | 0.15%             | 2056-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential  | Starwood Mortgage Residential Trust 2021-5          | CUSIP: 85573QAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    692464 | PA      | $601260.11    | 1.50%             | 2066-09-25      | Variable      | 2.18%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2014-1                     | CUSIP: 46641CBF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     36715 | PA      | $34615.36     | 0.09%             | 2044-01-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust             | A&D Mortgage Trust 2023-NQM3                        | CUSIP: 00249FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    927261 | PA      | $936175.44    | 2.33%             | 2068-07-25      | Variable      | 6.73%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2024-1                    | CUSIP: 89182NAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    133563 | PA      | $135693.13    | 0.34%             | 2064-03-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2024-CES1           | CUSIP: 46658CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    163240 | PA      | $164537.58    | 0.41%             | 2054-06-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2023-1                     | CUSIP: 03465WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    271017 | PA      | $269806.39    | 0.67%             | 2067-09-26      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | Corevest American Finance 2019-3 Trust              | CUSIP: 21872NAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $278193.02    | 0.69%             | 2052-10-15      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust          | Arroyo Mortgage Trust 2022-1                        | CUSIP: 042855AL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670000 | PA      | $627171.99    | 1.56%             | 2056-12-25      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2015-2          | CUSIP: 64829EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    132229 | PA      | $128683.34    | 0.32%             | 2055-08-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust   | METLIFE SECURITIZATION TRUST                        | CUSIP: 59166BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1110000 | PA      | $1013908.74   | 2.52%             | 2055-04-25      | Variable      | 3.41%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust       | Angel Oak Mortgage Trust 2021-8                     | CUSIP: 03465MAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    101167 | PA      | $90652.99     | 0.23%             | 2066-11-25      | Variable      | 1.82%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2017-3                     | CUSIP: 46647SBY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29568 | PA      | $25927.31     | 0.06%             | 2047-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2023-1                    | CUSIP: 89181JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     68601 | PA      | $66547.26     | 0.17%             | 2063-01-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2018-7FRB                  | CUSIP: 46650AAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    845504 | PA      | $830857.50    | 2.07%             | 2046-04-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2024-NQM16 Trust                                | CUSIP: 67120GAA6<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |    390525 | PA      | $393379.80    | 0.98%             | 2064-10-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2017-1                    | CUSIP: 89173FAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $315331.23    | 0.78%             | 2056-10-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2017-4                     | CUSIP: 46648UAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     71020 | PA      | $64569.64     | 0.16%             | 2048-11-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential Trust                          | CUSIP: 74333HAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $142528.59    | 0.35%             | 2038-07-17      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2025-NQM2           | CUSIP: 46590SAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    448109 | PA      | $451897.79    | 1.12%             | 2065-09-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2025-CES1           | CUSIP: 46658XAC9<br>LEI: 5299003TKRYXBBT76K08 | Long             | ABS-MBS          | CORP              | US        |    314784 | PA      | $317259.84    | 0.79%             | 2055-05-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust       | Mill City Mortgage Loan Trust 2017-1                | CUSIP: 59981HAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     52651 | PA      | $52116.68     | 0.13%             | 2058-11-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2016-2          | CUSIP: 64829GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29709 | PA      | $28854.29     | 0.07%             | 2035-11-26      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-1                    | CUSIP: 89177BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    248668 | PA      | $242225.30    | 0.60%             | 2058-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-HY2                  | CUSIP: 89177HAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    215000 | PA      | $215861.03    | 0.54%             | 2058-05-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2022-NQM2       | CUSIP: 64831MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     71625 | PA      | $67998.16     | 0.17%             | 2062-03-27      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust             | A&D Mortgage Trust 2025-NQM2                        | CUSIP: 00250EAC0<br>LEI: 9845004ECDEDFFFFC959 | Long             | ABS-MBS          | CORP              | US        |    537081 | PA      | $541960.47    | 1.35%             | 2070-06-25      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2024-CES1                 | CUSIP: 89183CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    825909 | PA      | $831716.32    | 2.07%             | 2064-01-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-NQM2                                      | CUSIP: 281917AC8<br>LEI: 254900BQMS9ITLPQGJ53 | Long             | ABS-MBS          | CORP              | US        |    344238 | PA      | $347153.79    | 0.86%             | 2070-06-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2022-INV2 Trust                                 | CUSIP: 55285UAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1148705 | PA      | $1146286.39   | 2.85%             | 2057-07-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Virtus Managed Account Completion Shares (MACS) Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer