# EDGAR Filing Document

**Accession Number:** 0001423227
**File Stem:** 0001752724-23-044768
**Filing Date:** 2023-2
**Character Count:** 93511
**Document Hash:** 69286b72fdbab45be84e40b5d0271f49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-044768.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-044768

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Strategy Trust
- **CENTRAL INDEX KEY:** 0001423227
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22167
- **FILM NUMBER:** 23679979

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

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

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

## Series and Classes Contracts Data

### Virtus Seix High Yield Income Fund (Series ID: S000028360)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000086666 | Institutional Class  | AYBIX           |
| C000086667 | Class P              | AYBPX           |
| C000086668 | Administrative Class | AYBVX           |
| C000086670 | Class A              | AYBAX           |
| C000086671 | Class C              | AYBCX           |

## Nport-Ex

#### VIRTUS Seix High Yield Income Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### December 31, 2022
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Corporate Bonds and Notes—92.1%** | **Corporate Bonds and Notes—92.1%** | **Corporate Bonds and Notes—92.1%** |
| **Communication Services—12.7%** | **Communication Services—12.7%** |  |
| Altice France S.A. 144A<br> 8.125%, 2/1/27<sup>(1)</sup> | $200 | $182 |
| CCO Holdings LLC 144A<br> 5.125%, 5/1/27<sup>(1)</sup> | &nbsp;&nbsp; 275 | &nbsp;&nbsp; 256 |
| Charter Communications Operating LLC<br> 5.750%, 4/1/48 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 74 |
| CSC Holdings LLC 144A<br> 6.500%, 2/1/29<sup>(1)</sup> | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 327 |
| DirecTV Financing LLC 144A<br> 5.875%, 8/15/27<sup>(1)</sup> | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 166 |
| DISH DBS Corp.<br> 7.375%, 7/1/28 | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 184 |
| Frontier Communications Holdings LLC 144A<br> 5.000%, 5/1/28<sup>(1)</sup> | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 262 |
| Hughes Satellite Systems Corp.<br> 6.625%, 8/1/26 | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 340 |
| LCPR Senior Secured Financing DAC 144A<br> 6.750%, 10/15/27<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 187 |
| Live Nation Entertainment, Inc. 144A<br> 4.750%, 10/15/27<sup>(1)</sup> | &nbsp;&nbsp; 480 | &nbsp;&nbsp; 427 |
| Match Group Holdings II LLC 144A<br> 5.000%, 12/15/27<sup>(1)</sup> | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 336 |
| Scripps Escrow II, Inc. 144A<br> 5.375%, 1/15/31<sup>(1)</sup> | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 361 |
| Time Warner Cable LLC<br> 6.750%, 6/15/39 | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 66 |
| T-Mobile USA, Inc.<br> 4.750%, 2/1/28 | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 316 |
| Uniti Group LP 144A<br> 4.750%, 4/15/28<sup>(1)</sup> | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 124 |
| Virgin Media Secured Finance plc 144A<br> 5.500%, 5/15/29<sup>(1)</sup> | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 327 |
|  |  | &nbsp;&nbsp; 3935 |
| **Consumer Discretionary—12.7%** | **Consumer Discretionary—12.7%** |  |
| Bath & Body Works, Inc. 144A<br> 6.625%, 10/1/30<sup>(1)</sup> | &nbsp;&nbsp; 295 | &nbsp;&nbsp; 277 |
| Caesars Entertainment, Inc. 144A<br> 8.125%, 7/1/27<sup>(1)</sup> | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 324 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;144A 10.500%, 2/1/26<sup>(1)</sup> | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp;144A 4.000%, 8/1/28<sup>(1)</sup> | &nbsp;&nbsp; 223 | &nbsp;&nbsp; 182 |
| Clarios Global LP 144A<br> 8.500%, 5/15/27<sup>(1)</sup> | &nbsp;&nbsp; 335 | &nbsp;&nbsp; 327 |
| Ford Motor Co.<br> 9.625%, 4/22/30 | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 537 |
| Installed Building Products, Inc. 144A<br> 5.750%, 2/1/28<sup>(1)</sup> | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 306 |
| MercadoLibre, Inc.<br> 3.125%, 1/14/31 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 153 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Consumer Discretionary—continued** | **Consumer Discretionary—continued** |  |
| Meritage Homes Corp. 144A<br> 3.875%, 4/15/29<sup>(1)</sup> | $125 | $106 |
| MGM Resorts International<br> 4.750%, 10/15/28 | &nbsp;&nbsp; 245 | &nbsp;&nbsp; 214 |
| NCL Corp., Ltd. 144A<br> 7.750%, 2/15/29<sup>(1)</sup> | &nbsp;&nbsp; 210 | &nbsp;&nbsp; 158 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;144A 11.500%, 6/1/25<sup>(1)</sup> | &nbsp;&nbsp; 314 | &nbsp;&nbsp; 337 |
| &nbsp;&nbsp;&nbsp;144A 5.375%, 7/15/27<sup>(1)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 89 |
| SeaWorld Parks & Entertainment, Inc. 144A<br> 5.250%, 8/15/29<sup>(1)</sup> | &nbsp;&nbsp; 405 | &nbsp;&nbsp; 352 |
| Taylor Morrison Communities, Inc. 144A<br> 5.750%, 1/15/28<sup>(1)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 211 |
| VOC Escrow Ltd. 144A<br> 5.000%, 2/15/28<sup>(1)</sup> | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 198 |
|  |  | &nbsp;&nbsp; 3937 |
| **Consumer Staples—3.6%** | **Consumer Staples—3.6%** |  |
| JBS USA LUX S.A. 144A<br> 4.375%, 2/2/52<sup>(1)</sup> | &nbsp;&nbsp; 209 | &nbsp;&nbsp; 148 |
| Pilgrim's Pride Corp. 144A<br> 5.875%, 9/30/27<sup>(1)</sup> | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 172 |
| Simmons Foods, Inc. 144A<br> 4.625%, 3/1/29<sup>(1)</sup> | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 293 |
| US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A 6.250%, 4/15/25<sup>(1)</sup> | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp;144A 4.750%, 2/15/29<sup>(1)</sup> | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 289 |
|  |  | &nbsp;&nbsp; 1134 |
| **Energy—14.6%** | **Energy—14.6%** |  |
| California Resources Corp. 144A<br> 7.125%, 2/1/26<sup>(1)</sup> | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 187 |
| Callon Petroleum Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 7/1/26 | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 89 |
| &nbsp;&nbsp;&nbsp;144A 8.000%, 8/1/28<sup>(1)</sup> | &nbsp;&nbsp; 440 | &nbsp;&nbsp; 419 |
| CITGO Petroleum Corp. 144A<br> 6.375%, 6/15/26<sup>(1)</sup> | &nbsp;&nbsp; 255 | &nbsp;&nbsp; 246 |
| Comstock Resources, Inc. 144A<br> 6.750%, 3/1/29<sup>(1)</sup> | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 316 |
| Crestwood Midstream Partners LP 144A<br> 6.000%, 2/1/29<sup>(1)</sup> | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 156 |
| Ensign Drilling, Inc. 144A<br> 9.250%, 4/15/24<sup>(1)</sup> | &nbsp;&nbsp; 145 | &nbsp;&nbsp; 137 |
| EQM Midstream Partners LP 144A<br> 6.500%, 7/1/27<sup>(1)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 105 |
| Hilcorp Energy I LP 144A<br> 6.250%, 11/1/28<sup>(1)</sup> | &nbsp;&nbsp; 335 | &nbsp;&nbsp; 303 |
| Occidental Petroleum Corp.<br> 6.625%, 9/1/30 | &nbsp;&nbsp; 305 | &nbsp;&nbsp; 315 |
| Patterson-UTI Energy, Inc.<br> 5.150%, 11/15/29 | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 305 |
| PDC Energy, Inc.<br> 5.750%, 5/15/26 | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 215 |
| SM Energy Co.<br> 6.500%, 7/15/28 | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 345 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Energy—continued** | **Energy—continued** |  |
| Southwestern Energy Co.<br> 5.375%, 3/15/30 | $325 | $296 |
| Sunoco LP<br> 5.875%, 3/15/28 | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 223 |
| Transocean Phoenix 2 Ltd. 144A<br> 7.750%, 10/15/24<sup>(1)</sup> | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 95 |
| USA Compression Partners LP<br> 6.875%, 9/1/27 | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 332 |
| Weatherford International Ltd. 144A<br> 8.625%, 4/30/30<sup>(1)</sup> | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 312 |
| Western Midstream Operating LP<br> 4.650%, 7/1/26 | &nbsp;&nbsp; 165 | &nbsp;&nbsp; 157 |
|  |  | &nbsp;&nbsp; 4553 |
| **Financials—16.4%** | **Financials—16.4%** |  |
| AssuredPartners, Inc. 144A<br> 5.625%, 1/15/29<sup>(1)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 78 |
| CDI Escrow Issuer, Inc. 144A<br> 5.750%, 4/1/30<sup>(1)</sup> | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 161 |
| Charter Communications Operating LLC<br> 6.484%, 10/23/45 | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 74 |
| Cimpress plc 144A<br> 7.000%, 6/15/26<sup>(1)</sup> | &nbsp;&nbsp; 265 | &nbsp;&nbsp; 183 |
| Compass Group Diversified Holdings LLC 144A<br> 5.250%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 290 | &nbsp;&nbsp; 248 |
| Enact Holdings, Inc. 144A<br> 6.500%, 8/15/25<sup>(1)</sup> | &nbsp;&nbsp; 162 | &nbsp;&nbsp; 159 |
| Entegris Escrow Corp. 144A<br> 5.950%, 6/15/30<sup>(1)</sup> | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 221 |
| Fairfax Financial Holdings Ltd. 144A<br> 5.625%, 8/16/32<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 188 |
| Freedom Mortgage Corp. 144A<br> 7.625%, 5/1/26<sup>(1)</sup> | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 192 |
| Gray Escrow II, Inc. 144A<br> 5.375%, 11/15/31<sup>(1)</sup> | &nbsp;&nbsp; 245 | &nbsp;&nbsp; 177 |
| Hightower Holding LLC 144A<br> 6.750%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 167 |
| Hilton Grand Vacations Borrower Escrow LLC 144A<br> 5.000%, 6/1/29<sup>(1)</sup> | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 112 |
| Holdco LLC LSF11-15 144A<br> 6.625%, 10/15/29<sup>(1)</sup> | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 87 |
| Kinetik Holdings LP 144A<br> 5.875%, 6/15/30<sup>(1)</sup> | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 159 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;144A 5.875%, 3/15/30<sup>(1)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp;144A 6.125%, 3/15/32<sup>(1)</sup> | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 114 |
| MPH Acquisition Holdings LLC 144A<br> 5.500%, 9/1/28<sup>(1)</sup> | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 63 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Seix High Yield Income Fund

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

#### December 31, 2022
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Financials—continued** | **Financials—continued** |  |
| Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A 5.500%, 8/15/28<sup>(1)</sup> | $295 | $241 |
| &nbsp;&nbsp;&nbsp;144A 5.750%, 11/15/31<sup>(1)</sup> | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 132 |
| Organon & Co. 144A<br> 5.125%, 4/30/31<sup>(1)</sup> | &nbsp;&nbsp; 405 | &nbsp;&nbsp; 351 |
| Park Intermediate Holdings LLC 144A<br> 5.875%, 10/1/28<sup>(1)</sup> | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 109 |
| PennyMac Financial Services, Inc. 144A<br> 5.750%, 9/15/31<sup>(1)</sup> | &nbsp;&nbsp; 155 | &nbsp;&nbsp; 123 |
| Radian Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 10/1/24 | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp;6.625%, 3/15/25 | &nbsp;&nbsp; 175 | &nbsp;&nbsp; 173 |
| Rocket Mortgage LLC 144A<br> 2.875%, 10/15/26<sup>(1)</sup> | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 313 |
| United Rentals North America, Inc. 144A<br> 6.000%, 12/15/29<sup>(1)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 55 |
| United Wholesale Mortgage LLC 144A<br> 5.500%, 11/15/25<sup>(1)</sup> | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 360 |
| Vistra Operations Co. LLC 144A<br> 5.125%, 5/13/25<sup>(1)</sup> | &nbsp;&nbsp; 297 | &nbsp;&nbsp; 290 |
| Williams Scotsman International, Inc. 144A<br> 6.125%, 6/15/25<sup>(1)</sup> | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 356 |
|  |  | &nbsp;&nbsp; 5088 |
| **Health Care—7.1%** | **Health Care—7.1%** |  |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 12/15/27 | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/29 | &nbsp;&nbsp; 345 | &nbsp;&nbsp; 315 |
| DaVita, Inc. 144A<br> 4.625%, 6/1/30<sup>(1)</sup> | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 314 |
| Horizon Therapeutics USA, Inc. 144A<br> 5.500%, 8/1/27<sup>(1)</sup> | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 334 |
| Prestige Brands, Inc. 144A<br> 5.125%, 1/15/28<sup>(1)</sup> | &nbsp;&nbsp; 295 | &nbsp;&nbsp; 277 |
| Syneos Health, Inc. 144A<br> 3.625%, 1/15/29<sup>(1)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 76 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;144A 6.125%, 10/1/28<sup>(1)</sup> | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp;144A 6.125%, 6/15/30<sup>(1)</sup> | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 109 |
|  |  | &nbsp;&nbsp; 2224 |
| **Industrials—12.9%** | **Industrials—12.9%** |  |
| American Airlines, Inc. 144A<br> 11.750%, 7/15/25<sup>(1)</sup> | &nbsp;&nbsp; 305 | &nbsp;&nbsp; 327 |
| BlueLinx Holdings, Inc. 144A<br> 6.000%, 11/15/29<sup>(1)</sup> | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 91 |
| Brundage-Bone Concrete Pumping Holdings, Inc. 144A<br> 6.000%, 2/1/26<sup>(1)</sup> | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 114 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Industrials—continued** | **Industrials—continued** |  |
| Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A 7.500%, 1/1/30<sup>(1)</sup> | $75 | $75 |
| &nbsp;&nbsp;&nbsp;144A 9.500%, 1/1/31<sup>(1)</sup> | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 64 |
| Fertitta Entertainment LLC 144A<br> 6.750%, 1/15/30<sup>(1)</sup> | &nbsp;&nbsp; 195 | &nbsp;&nbsp; 157 |
| GFL Environmental, Inc. 144A<br> 4.750%, 6/15/29<sup>(1)</sup> | &nbsp;&nbsp; 395 | &nbsp;&nbsp; 346 |
| Griffon Corp.<br> 5.750%, 3/1/28 | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 128 |
| Herc Holdings, Inc. 144A<br> 5.500%, 7/15/27<sup>(1)</sup> | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 224 |
| Iliad Holding SASU 144A<br> 6.500%, 10/15/26<sup>(1)</sup> | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 250 |
| Spirit AeroSystems, Inc. 144A<br> 9.375%, 11/30/29<sup>(1)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 13 |
| Terex Corp. 144A<br> 5.000%, 5/15/29<sup>(1)</sup> | &nbsp;&nbsp; 325 | &nbsp;&nbsp; 292 |
| TMS International Corp. 144A<br> 6.250%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 265 | &nbsp;&nbsp; 189 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;144A 6.250%, 3/15/26<sup>(1)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/27 | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 343 |
| Triumph Group, Inc. 144A<br> 8.875%, 6/1/24<sup>(1)</sup> | &nbsp;&nbsp; 375 | &nbsp;&nbsp; 382 |
| Uber Technologies, Inc. 144A<br> 7.500%, 9/15/27<sup>(1)</sup> | &nbsp;&nbsp; 690 | &nbsp;&nbsp; 690 |
|  |  | &nbsp;&nbsp; 4001 |
| **Information Technology—5.3%** | **Information Technology—5.3%** |  |
| Coherent Corp. 144A<br> 5.000%, 12/15/29<sup>(1)</sup> | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 315 |
| Global Payments, Inc.<br> 4.950%, 8/15/27 | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 223 |
| NCR Corp. 144A<br> 5.125%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 209 |
| Seagate HDD Cayman<br> 5.750%, 12/1/34 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 85 |
| SS&C Technologies, Inc. 144A<br> 5.500%, 9/30/27<sup>(1)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 300 |
| Viasat, Inc. 144A<br> 5.625%, 4/15/27<sup>(1)</sup> | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 168 |
| WESCO Distribution, Inc. 144A<br> 7.250%, 6/15/28<sup>(1)</sup> | &nbsp;&nbsp; 345 | &nbsp;&nbsp; 349 |
|  |  | &nbsp;&nbsp; 1649 |
| **Materials—4.0%** | **Materials—4.0%** |  |
| Owens-Brockway Glass Container, Inc. 144A<br> 6.625%, 5/13/27<sup>(1)</sup> | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 349 |
| Standard Industries, Inc. 144A<br> 5.000%, 2/15/27<sup>(1)</sup> | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 360 |
| Summit Materials LLC 144A<br> 5.250%, 1/15/29<sup>(1)</sup> | &nbsp;&nbsp; 285 | &nbsp;&nbsp; 265 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Materials—continued** | **Materials—continued** |  |
| Sylvamo Corp. 144A<br> 7.000%, 9/1/29<sup>(1)</sup> | $200 | $191 |
| Warrior Met Coal, Inc. 144A<br> 7.875%, 12/1/28<sup>(1)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp; 69 |
|  |  | &nbsp;&nbsp;&nbsp; 1234 |
| **Real Estate—2.4%** | **Real Estate—2.4%** |  |
| Howard Hughes Corp. (The) 144A<br> 5.375%, 8/1/28<sup>(1)</sup> | &nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp; 109 |
| Iron Mountain, Inc. 144A<br> 5.250%, 7/15/30<sup>(1)</sup> | &nbsp;&nbsp; 390 | &nbsp;&nbsp;&nbsp; 339 |
| Service Properties Trust<br> 7.500%, 9/15/25 | &nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp; 314 |
|  |  | &nbsp;&nbsp;&nbsp; 762 |
| **Utilities—0.4%** | **Utilities—0.4%** |  |
| Pacific Gas & Electric Co.<br> 4.950%, 7/1/50 | &nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp; 120 |
| **Total Corporate Bonds and Notes<br> (Identified Cost $30,571)** | **Total Corporate Bonds and Notes<br> (Identified Cost $30,571)** | &nbsp;&nbsp;&nbsp;&nbsp;**28637** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **Preferred Stock—2.2%** | **Preferred Stock—2.2%** | **Preferred Stock—2.2%** |
| **Communication Services—2.2%** | **Communication Services—2.2%** |  |
| LiveStyle, Inc. Series B <sup>(2)(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9250 | &nbsp;&nbsp; 673 |
| **Total Preferred Stock<br> (Identified Cost $907)** | **Total Preferred Stock<br> (Identified Cost $907)** | **673** |
| **Common Stocks—2.1%** | **Common Stocks—2.1%** | **Common Stocks—2.1%** |
| **Communication Services—0.0%** | **Communication Services—0.0%** |  |
| LiveStyle, Inc. <sup>(2)(3)(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;67983 | &nbsp;&nbsp; —<sup>(5)</sup> |
| **Financials—2.1%** | **Financials—2.1%** |  |
| CCF Holdings LLC <sup>(2)(4)</sup> | 1570753 | &nbsp;&nbsp; 487 |
| CCF Holdings LLC Class M<sup>(2)(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;293320 | &nbsp;&nbsp; 91 |
| Erickson, Inc.<sup>(2)(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675 | &nbsp;&nbsp; 90 |
|  |  | &nbsp;&nbsp; 668 |
| **Total Common Stocks<br> (Identified Cost $4,945)** | **Total Common Stocks<br> (Identified Cost $4,945)** | **668** |
| **Warrants—0.2%** | **Warrants—0.2%** | **Warrants—0.2%** |
| **Communication Services—0.0%** | **Communication Services—0.0%** |  |
| Tenerity, Inc.<sup>(2)(3)(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3898 | &nbsp;&nbsp; — |

---

See Notes to Schedule of Investments

------

#### VIRTUS Seix High Yield Income Fund

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

#### December 31, 2022
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials—0.2%** | **Financials—0.2%** |  |
| CCF Holdings LLC<sup>(2)(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;485227 | $63 |
| **Total Warrants<br> (Identified Cost $770)** | **Total Warrants<br> (Identified Cost $770)** | &nbsp;&nbsp;&nbsp;&nbsp; **63** |
| **Total Long-Term Investments—96.6%<br> (Identified Cost $37,193)** | **Total Long-Term Investments—96.6%<br> (Identified Cost $37,193)** | &nbsp;&nbsp;&nbsp;&nbsp;**30041** |
| **Short-Term Investment—1.7%** | **Short-Term Investment—1.7%** | **Short-Term Investment—1.7%** |
| **Money Market Mutual Fund—1.7%** | **Money Market Mutual Fund—1.7%** | **Money Market Mutual Fund—1.7%** |
| BlackRock Liquidity FedFund - Institutional Shares (seven-day effective yield 4.033%)<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;529531 | &nbsp;&nbsp;&nbsp; 530 |
| **Total Short-Term Investment<br> (Identified Cost $530)** | **Total Short-Term Investment<br> (Identified Cost $530)** | &nbsp;&nbsp;&nbsp;&nbsp; **530** |
| **TOTAL INVESTMENTS—98.3%<br> (Identified Cost $37,723)** | **TOTAL INVESTMENTS—98.3%<br> (Identified Cost $37,723)** | &nbsp;&nbsp;**$30571** |
| Other assets and liabilities, net—1.7% | Other assets and liabilities, net—1.7% | &nbsp;&nbsp;&nbsp;&nbsp; 515 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$31086** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| EV | Enterprise Value |
| LLC | Limited Liability Company |
| LP | Limited Partnership |
| REIT | Real Estate Investment Trust |

---

---

| | |
|:---|:---|
| **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 December 31, 2022, these securities amounted to a value of $22,287 or 71.7% of net assets. |
| <sup>(2)</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>(3)</sup> | All or a portion of the security is restricted. |
| <sup>(4)</sup> | Non-income producing. |
| <sup>(5)</sup> | Amount is less than $500. |
| <sup>(6)</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;88% |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Liberia | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Ireland | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Panama | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;3 |
| Total | 100% |
| <sup>†</sup> % of total investments as of December 31, 2022. | <sup>†</sup> % of total investments as of December 31, 2022. |

---

The following table summarizes the value of the Fund's investments as of December 31, 2022, 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> December 31, 2022 | &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;Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 | &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;&nbsp;&nbsp;668 |
| &nbsp;&nbsp;&nbsp;Preferred Stock | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | &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;&nbsp;&nbsp;673 |
| &nbsp;&nbsp;&nbsp;Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63<sup>(1)</sup> |
| Money Market Mutual Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&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;$30571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1404 |

---

<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 December 31, 2022.

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.

See Notes to Schedule of Investments

------

#### VIRTUS Seix High Yield Income Fund

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

#### December 31, 2022
($ reported in thousands)

The following is a reconciliation of assets of the Fund for Level 3 investments for which significant unobservable inputs were used to determine fair value.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;&nbsp;Common<br> Stocks | &nbsp;&nbsp;&nbsp;&nbsp;Preferred<br> Stocks | &nbsp;&nbsp;&nbsp;&nbsp;Warrant |
| **Investments in Securities** |  |  |  |  |
| **Balance as of September 30, 2022:** | &nbsp;&nbsp;&nbsp;&nbsp;$1907 | &nbsp;&nbsp;&nbsp;&nbsp;$482 | &nbsp;&nbsp;&nbsp;&nbsp;$1396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29<sup>(a)</sup> |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net Change in unrealized appreciation (depreciation)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| Sales<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(970) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(970) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Balance as of December 31, 2022** | &nbsp;&nbsp;&nbsp;&nbsp;$1404 | &nbsp;&nbsp;&nbsp;&nbsp;$668 | &nbsp;&nbsp;&nbsp;&nbsp;$673 | &nbsp;&nbsp;&nbsp;&nbsp;$63<sup>(a)</sup> |

---

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

<sup>(b)</sup> The net change in unrealized appreciation (depreciation) on investments still held at December 31, 2022, was $448.

<sup>(c)</sup> Includes paydowns on securities.

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 at December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in<br> Securities – Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> Balance<br> at December 31, 2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Valuation Technique Used** | &nbsp;&nbsp;&nbsp;&nbsp;**Unobservable<br> Inputs** | &nbsp;&nbsp;&nbsp;&nbsp;**Input<br> Values** |
| **Preferred Stock:** |  |  |  |  |
| LiveStyle Ser B | &nbsp;&nbsp;&nbsp;&nbsp;$673 | &nbsp;&nbsp;&nbsp;&nbsp;Discounted cash flows liquidation approach | &nbsp;&nbsp;&nbsp;&nbsp;Discount rate | &nbsp;&nbsp;&nbsp;&nbsp;26.13% (25.16% - 26.66%) |
| **Common Stocks:** |  |  |  |  |
| CCF Holdings LLC | &nbsp;&nbsp;&nbsp;&nbsp;$487 | &nbsp;&nbsp;&nbsp;&nbsp;Market and Company Comparables | &nbsp;&nbsp;&nbsp;&nbsp;EV Multiples | &nbsp;&nbsp;&nbsp;&nbsp;1.06x (0.65x - 1.44x) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;0.62x (0.43x - 0.75x) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Illiquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp;20% |
| CCF Holdings LLC Class M | &nbsp;&nbsp;&nbsp;&nbsp;$91 | &nbsp;&nbsp;&nbsp;&nbsp;Market and Company Comparables | &nbsp;&nbsp;&nbsp;&nbsp;EV Multiples | &nbsp;&nbsp;&nbsp;&nbsp;1.06x (0.65x - 1.44x) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;0.62x (0.43x - 0.75x) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Illiquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp;20% |
| Erickson | &nbsp;&nbsp;&nbsp;&nbsp;$90 | &nbsp;&nbsp;&nbsp;&nbsp;Market and Company Comparables | &nbsp;&nbsp;&nbsp;&nbsp;EV Multiples | &nbsp;&nbsp;&nbsp;&nbsp;1.21x (0.77x - 3.09x) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;14.66x (10.95x - 19.92x) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1.00x (0.56x - 1.75x) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;M&A Transaction Multiples | &nbsp;&nbsp;&nbsp;&nbsp;0.96x (0.41x - 1.96x) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Illiquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp;20% |
| LiveStyle | &nbsp;&nbsp;&nbsp;&nbsp;$—<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Discounted cash flows liquidation approach | &nbsp;&nbsp;&nbsp;&nbsp;Discount rate | &nbsp;&nbsp;&nbsp;&nbsp;26.13% (25.16% - 26.66%) |
| **Warrants:** |  |  |  |  |
| CCF Holdings | &nbsp;&nbsp;&nbsp;&nbsp;$63 | &nbsp;&nbsp;&nbsp;&nbsp;Market and Company Comparables | &nbsp;&nbsp;&nbsp;&nbsp;EV Multiples | &nbsp;&nbsp;&nbsp;&nbsp;1.06x (0.65x - 1.44x) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;0.62x (0.43x - 0.75x) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;Illiquidity Discount | &nbsp;&nbsp;&nbsp;&nbsp;20% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Black-Scholes Model | &nbsp;&nbsp;&nbsp;&nbsp;Volatility | &nbsp;&nbsp;&nbsp;&nbsp;57.17% |
| <sup>(1)</sup> Amount is less than $500. | <sup>(1)</sup> Amount is less than $500. | <sup>(1)</sup> Amount is less than $500. | <sup>(1)</sup> Amount is less than $500. | <sup>(1)</sup> Amount is less than $500. |

---

See Notes to Schedule of Investments

------

#### VIRTUS Seix High Yield Income Fund

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

#### December 31, 2022

#### Note 1. Security Valuation
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 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 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, and restricted securities, are valued based on evaluated 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 Adviser's Valuation Committee are generally categorized as Level 3 in the hierarchy.

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

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

A summary of the inputs used to value the Fund's net assets by each major security type is disclosed at the end of the Schedule of Investments for the Fund. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** GREENFIELD

  - **State:** MA

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Virtus Seix High Yield Income Fund

- **b. EDGAR series identifier (if any):** S000028360

- **c. LEI of Series:** 549300YNVCJBQM021V95

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $31184507.50

**Total Liabilities:** $87966.67

**Net Assets:** $31096540.83

**Cash Not Reported:** $26459.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -371.00000000 | **10-Year:** -578.00000000 | **30-Year:** -597.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -2936.00000000 | **10-Year:** -6819.00000000 | **30-Year:** -69.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000086666 | 3.32%                | 3.23%                | -0.75%               |
| Class ID C000086670 | -0.60%               | -0.68%               | -4.59%               |
| Class ID C000086667 | 3.33%                | 3.24%                | -0.90%               |
| Class ID C000086671 | 2.21%                | 2.11%                | -1.93%               |
| Class ID C000086668 | 3.48%                | 3.09%                | -0.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-105986.73              | $1021757.87                                |
| Month 2  | $-174803.57              | $959367.59                                 |
| Month 3  | $-92437.79               | $-281300.45                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ENSIGN DRILLING INC                    | Ensign Drilling Inc                                                              | CUSIP: 29359NAA3<br>LEI: 549300MJ7RLJKQNMN618 | Long             | DBT              | CORP              | CA        |    145000 | PA      | $137040.18    | 0.44%             | 2024-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                  | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    395000 | PA      | $345723.75    | 1.11%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                       | MercadoLibre Inc                                                                 | CUSIP: 58733RAF9<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |    200000 | PA      | $153620.00    | 0.49%             | 2031-01-14      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $187000.00    | 0.60%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                  | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    305000 | PA      | $327142.77    | 1.05%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC BOR ESC               | Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $111800.00    | 0.36%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                 | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $132175.00    | 0.43%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT               | Western Midstream Operating LP                                                   | CUSIP: 958254AF1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    165000 | PA      | $156594.90    | 0.50%             | 2026-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund            | BlackRock Liquidity FedFund                                                      | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    553070 | NS      | $553069.98    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CALLON PETROLEUM                       | Callon Petroleum Co                                                              | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    440000 | PA      | $419444.86    | 1.35%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BLUELINX HOLDING                       | BlueLinx Holdings Inc                                                            | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |    110000 | PA      | $91300.00     | 0.29%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HIGHTOWER HOLDING LLC                  | Hightower Holding LLC                                                            | CUSIP: 43118DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $167021.72    | 0.54%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP               | California Resources Corp                                                        | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    195000 | PA      | $187402.80    | 0.60%             | 2026-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                 | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $222554.67    | 0.72%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC                  | CDI Escrow Issuer Inc                                                            | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $161357.24    | 0.52%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST               | Service Properties Trust                                                         | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    330000 | PA      | $314465.43    | 1.01%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                   | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                           | CUSIP: 46590XAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    209000 | PA      | $147747.18    | 0.48%             | 2052-02-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NCR CORP                               | NCR Corp                                                                         | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    250000 | PA      | $209080.80    | 0.67%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                  | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    155000 | PA      | $122917.31    | 0.40%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                          | Carnival Corp                                                                    | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    165000 | PA      | $165785.40    | 0.53%             | 2026-02-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $261606.00    | 0.84%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                       | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $350681.50    | 1.13%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC               | Vistra Operations Co LLC                                                         | CUSIP: 92840VAL6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    297000 | PA      | $290382.84    | 0.93%             | 2025-05-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                 | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $240546.35    | 0.77%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION                    | Griffon Corp                                                                     | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    140000 | PA      | $128100.00    | 0.41%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                  | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    320000 | PA      | $299646.75    | 0.96%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                      | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    240000 | PA      | $223860.00    | 0.72%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS               | Hughes Satellite Systems Corp                                                    | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $340450.10    | 1.09%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP               | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $155976.81    | 0.50%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                       | CSC Holdings LLC                                                                 | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $327000.00    | 1.05%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP               | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $73945.47     | 0.24%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC               | Patterson-UTI Energy Inc                                                         | CUSIP: 703481AC5<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    340000 | PA      | $304731.58    | 0.98%             | 2029-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                   | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    225000 | PA      | $210679.35    | 0.68%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                             | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    185000 | PA      | $168044.75    | 0.54%             | 2027-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                     | Howard Hughes Corp/The                                                           | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    121000 | PA      | $108988.33    | 0.35%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE               | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    290000 | PA      | $248179.40    | 0.80%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS               | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     81000 | PA      | $63188.10     | 0.20%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                   | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAE8<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    177000 | PA      | $171685.81    | 0.55%             | 2027-09-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                | Standard Industries Inc/NJ                                                       | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    390000 | PA      | $359865.89    | 1.16%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                      | Iliad Holding SASU                                                               | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    270000 | PA      | $250412.54    | 0.81%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                  | Freedom Mortgage Corp                                                            | CUSIP: 35640YAF4<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    230000 | PA      | $191848.89    | 0.62%             | 2026-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                    | LSF11 A5 HoldCo LLC                                                              | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    105000 | PA      | $86741.68     | 0.28%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN               | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    480000 | PA      | $427356.00    | 1.37%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                          | Carnival Corp                                                                    | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    223000 | PA      | $181836.43    | 0.58%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                   | Entegris Escrow Corp                                                             | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $221328.00    | 0.71%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                  | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    690000 | PA      | $690483.00    | 2.22%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54656.25     | 0.18%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                 | Brundage-Bone Concrete Pumping Holdings Inc                                      | CUSIP: 66981QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $113955.75    | 0.37%             | 2026-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                  | Bath & Body Works Inc                                                            | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    295000 | PA      | $276828.89    | 0.89%             | 2030-10-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                      | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    390000 | PA      | $338910.00    | 1.09%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS & ENTERTA               | SeaWorld Parks & Entertainment Inc                                               | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |    405000 | PA      | $352633.02    | 1.13%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                  | Time Warner Cable LLC                                                            | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |     70000 | PA      | $66290.28     | 0.21%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                           | US Foods Inc                                                                     | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    325000 | PA      | $288574.00    | 0.93%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN               | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    355000 | PA      | $331925.09    | 1.07%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                          | TransDigm Inc                                                                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    320000 | PA      | $315580.80    | 1.01%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SYLVAMO CORP                           | Sylvamo Corp                                                                     | CUSIP: 87133LAA8<br>LEI: 5493001AOYU1ZOWOC971 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190362.91    | 0.61%             | 2029-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LiveStyle Inc. Common Stock            | LiveStyle Inc. Common Stock                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67983 | NS      | $0.68         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                       | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $124000.00    | 0.40%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    110000 | PA      | $89067.11     | 0.29%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                       | MGM Resorts International                                                        | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    245000 | PA      | $213849.25    | 0.69%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                          | DISH DBS Corp                                                                    | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $183950.00    | 0.59%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SUMMIT MATERIALS LLC/FIN               | Summit Materials LLC / Summit Materials Finance Corp                             | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $265342.13    | 0.85%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR               | Occidental Petroleum Corp                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    305000 | PA      | $315180.90    | 1.01%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                   | CITGO Petroleum Corp                                                             | CUSIP: 17302XAM8<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    255000 | PA      | $245788.20    | 0.79%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN               | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    335000 | PA      | $327126.33    | 1.05%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CCF Holdings LLC                       | CCF Holdings LLC                                                                 | CUSIP: 12509J208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1570753 | NS      | $486933.43    | 1.57%             |  |  |  | No            |                  3 | On Loan: No      |
| TENET HEALTHCARE CORP                  | Tenet Healthcare Corp                                                            | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    510000 | PA      | $456613.20    | 1.47%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC                    | AssuredPartners Inc                                                              | CUSIP: 04624VAB5<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |     95000 | PA      | $78188.27     | 0.25%             | 2029-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                 | Southwestern Energy Co                                                           | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    325000 | PA      | $296406.18    | 0.95%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CCF HLDGS LLC WT CCF HLDGS LLC WTS C   | CCF HLDGS LLC WT CCF HLDGS LLC WTS C                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    485227 | NC      | $63079.51     | 0.20%             |  |  |  | No            |                  3 | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                                                     | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    365000 | PA      | $342320.07    | 1.10%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                     | Seagate HDD Cayman                                                               | CUSIP: 81180WAN1<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $84788.00     | 0.27%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SYNEOS HEALTH INC                      | Syneos Health Inc                                                                | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |     95000 | PA      | $75652.78     | 0.24%             | 2029-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                 | WESCO Distribution Inc                                                           | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    345000 | PA      | $349476.02    | 1.12%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                 | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    360000 | PA      | $356400.00    | 1.15%             | 2025-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                    | Meritage Homes Corp                                                              | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    125000 | PA      | $106006.88    | 0.34%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                           | SM Energy Co                                                                     | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    360000 | PA      | $345157.20    | 1.11%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                 | Match Group Holdings II LLC                                                      | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    365000 | PA      | $335800.00    | 1.08%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                  | Caesars Entertainment Inc                                                        | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    330000 | PA      | $324241.50    | 1.04%             | 2027-07-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| LiveStyle Inc. Series B Preferred      | LiveStyle Inc. Series B Preferred                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      9250 | NS      | $673492.50    | 2.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIMPRESS PLC                           | Cimpress PLC                                                                     | CUSIP: 17186HAC6<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |    265000 | PA      | $183194.50    | 0.59%             | 2026-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $157287.00    | 0.51%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP               | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $73682.11     | 0.24%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TRIUMPH GROUP INC                      | Triumph Group Inc                                                                | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    375000 | PA      | $381562.50    | 1.23%             | 2024-06-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                 | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12632.40     | 0.04%             | 2029-11-30      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| WARRIOR MET COAL INC                   | Warrior Met Coal Inc                                                             | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68844.14     | 0.22%             | 2028-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU               | Installed Building Products Inc                                                  | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    340000 | PA      | $305709.52    | 0.98%             | 2028-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GRAY ESCROW II INC                     | Gray Escrow II Inc                                                               | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $176559.25    | 0.57%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                         | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    360000 | PA      | $349274.65    | 1.12%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                           | US Foods Inc                                                                     | CUSIP: 90290MAC5<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    235000 | PA      | $232540.27    | 0.75%             | 2025-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                 | Fairfax Financial Holdings Ltd                                                   | CUSIP: 303901BK7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $187722.56    | 0.60%             | 2032-08-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                   | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75396.75     | 0.24%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $130159.50    | 0.42%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $113471.55    | 0.36%             | 2032-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                  | Scripps Escrow II Inc                                                            | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $360679.04    | 1.16%             | 2031-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC                     | Enact Holdings Inc                                                               | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $158980.32    | 0.51%             | 2025-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                       | Altice France SA/France                                                          | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $182176.00    | 0.59%             | 2027-02-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PDC ENERGY INC                         | PDC Energy Inc                                                                   | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    225000 | PA      | $214778.25    | 0.69%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                          | Coherent Corp                                                                    | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    365000 | PA      | $314786.95    | 1.01%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC               | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $312864.27    | 1.01%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                    | Callon Petroleum Co                                                              | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |     95000 | PA      | $88544.35     | 0.28%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN PHOENIX 2 LTD               | Transocean Phoenix 2 Ltd                                                         | CUSIP: 893828AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     96000 | PA      | $95040.00     | 0.31%             | 2024-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                  | Tenet Healthcare Corp                                                            | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109572.00    | 0.35%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                 | Pacific Gas and Electric Co                                                      | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    155000 | PA      | $120100.29    | 0.39%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Erickson Inc                           | Erickson Inc                                                                     | CUSIP: 29482Y200<br>LEI: 54930048K1C8M9G3EI51 | Long             | EC               | CORP              | US        |      2675 | NS      | $90040.50     | 0.29%             |  |  |  | No            |                  3 | On Loan: No      |
| DIRECTV FIN LLC/COINC                  | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $165512.10    | 0.53%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                       | RADIAN GROUP INC                                                                 | CUSIP: 750236AU5<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72342.00     | 0.23%             | 2024-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                       | T-Mobile USA Inc                                                                 | CUSIP: 87264AAV7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    325000 | PA      | $315993.54    | 1.02%             | 2028-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA               | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    325000 | PA      | $312100.17    | 1.00%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                    | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    170000 | PA      | $159423.11    | 0.51%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                         | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    230000 | PA      | $197823.00    | 0.64%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                     | Ford Motor Co                                                                    | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    475000 | PA      | $537334.23    | 1.73%             | 2030-04-22      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                             | Terex Corp                                                                       | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    325000 | PA      | $292093.75    | 0.94%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN               | Virgin Media Secured Finance PLC                                                 | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    365000 | PA      | $326959.70    | 1.05%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                       | Radian Group Inc                                                                 | CUSIP: 750236AX9<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172637.43    | 0.56%             | 2025-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP               | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $303175.00    | 0.97%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                    | Global Payments Inc                                                              | CUSIP: 37940XAP7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    230000 | PA      | $223100.61    | 0.72%             | 2027-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                          | TransDigm Inc                                                                    | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    365000 | PA      | $342753.25    | 1.10%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HORIZON THERAPEUTICS USA               | Horizon Therapeutics USA Inc                                                     | CUSIP: 44055PAA4<br>LEI: 254900IS87RLPXY88S03 | Long             | DBT              | CORP              | US        |    325000 | PA      | $333612.50    | 1.07%             | 2027-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                 | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $256319.25    | 0.82%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L               | EQM Midstream Partners LP                                                        | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    110000 | PA      | $105132.50    | 0.34%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $108775.90    | 0.35%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS               | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $293058.95    | 0.94%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    314000 | PA      | $336765.00    | 1.08%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| CENTENE CORP                           | Centene Corp                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    345000 | PA      | $315273.36    | 1.01%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                    | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    210000 | PA      | $158033.40    | 0.51%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TMS INTERNATIONAL CORP                 | TMS International Corp/DE                                                        | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |    265000 | PA      | $189543.90    | 0.61%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                   | Chart Industries Inc                                                             | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     62000 | PA      | $63587.82     | 0.20%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                 | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    350000 | PA      | $315875.00    | 1.02%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL               | United Wholesale Mortgage LLC                                                    | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    400000 | PA      | $360247.95    | 1.16%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCF HOLDINGS LLC CLASS M EQUITY        | CCF HOLDINGS LLC CLASS M EQUITY                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    293320 | NS      | $90929.20     | 0.29%             |  |  |  | No            |                  3 | On Loan: No      |
| PRESTIGE BRANDS INC                    | Prestige Brands Inc                                                              | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    295000 | PA      | $276925.85    | 0.89%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                             | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    390000 | PA      | $313726.41    | 1.01%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AFFINION GROUP HOLDINGS WTS 04/01/24 P | AFFINION GROUP HOLDINGS WTS 04/01/24 P                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      3898 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Virtus Strategy Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer