# EDGAR Filing Document

**Accession Number:** 0002025137
**File Stem:** 0000940400-25-010882
**Filing Date:** 2025-11
**Character Count:** 71033
**Document Hash:** 83fac288200234d8de89b1448be2f8cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010882.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000940400-25-010882

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23968
- **FILM NUMBER:** 251527452

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

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

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

## Series and Classes Contracts Data

### Virtus Seix High Yield MACS (Series ID: S000086627)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000252215 | Virtus Seix High Yield MACS | VMAKX           |

## Nport-Ex

**VIRTUS Seix High Yield MACS**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**September 30, 2025**

($ reported in thousands)

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

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Corporate Bonds and Notes—99.1%** | **Corporate Bonds and Notes—99.1%** | **Corporate Bonds and Notes—99.1%** |
| **Communication Services—6.7%** | **Communication Services—6.7%** |  |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC 144A <br>3.875%, 8/15/28<sup>(1)</sup> <br>| $50 | &nbsp;&nbsp; $47 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. 144A <br>4.000%, 11/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc. 144A <br>6.250%, 10/1/33<sup>(1)</sup> <br>| 55 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. 144A <br>3.750%, 1/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp. 144A <br>3.875%, 5/1/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC 144A <br>5.000%, 8/1/27<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Snap, Inc. 144A <br>6.875%, 3/1/33<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
|  |  | &nbsp;&nbsp; 342 |
| **Consumer Discretionary—16.6%** | **Consumer Discretionary—16.6%** |  |
| &nbsp;&nbsp;&nbsp; Acushnet Co. 144A <br>7.375%, 10/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc. 144A <br>5.875%, 6/1/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Amer Sports Co. 144A <br>6.750%, 2/16/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. 144A <br>6.750%, 5/1/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc. 144A <br>4.125%, 8/15/31<sup>(1)</sup> <br>| 60 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes, Inc. 144A <br>8.250%, 8/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc. 144A <br>6.875%, 3/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. 144A <br>6.375%, 1/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. 144A <br>5.750%, 2/1/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc. 144A <br>8.750%, 12/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. 144A <br>4.375%, 1/15/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; NCL Corp., Ltd. 144A <br>7.750%, 2/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc. 144A <br>6.750%, 4/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. 144A <br>4.625%, 11/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. 144A <br>4.000%, 10/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp. 144A <br>4.125%, 2/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 47 |
| &nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. 144A <br>6.250%, 7/15/28<sup>(1)</sup> <br>| 30 | &nbsp;&nbsp; 30 |
|  |  | &nbsp;&nbsp; 843 |
| **Consumer Staples—4.0%** | **Consumer Staples—4.0%** |  |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. 144A <br>7.000%, 3/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. 144A <br>5.500%, 10/15/27<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Consumer Staples—continued** | **Consumer Staples—continued** |  |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. 144A <br>6.250%, 2/15/32<sup>(1)</sup> <br>| $50 | &nbsp;&nbsp; $51 |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. 144A <br>7.625%, 3/15/32<sup>(1)</sup> <br>| 49 | &nbsp;&nbsp; 52 |
|  |  | &nbsp;&nbsp; 205 |
| **Energy—7.8%** | **Energy—7.8%** |  |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. 144A <br>6.000%, 10/1/30<sup>(1)</sup> <br>| 52 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC 144A <br>6.875%, 12/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. 144A <br>6.500%, 4/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC 144A <br>8.000%, 4/15/30<sup>(1)</sup> <br>| 29 | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC 144A <br>4.950%, 7/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Tidewater, Inc. 144A <br>9.125%, 7/15/30<sup>(1)</sup> <br>| 29 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Transocean International Ltd. 144A <br>7.875%, 10/15/32<sup>(1)</sup> <br>| 5 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd. 144A <br>8.375%, 2/1/28<sup>(1)</sup> <br>| 40 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp;&nbsp; Valaris Ltd. 144A <br>8.375%, 4/30/30<sup>(1)</sup> <br>| 30 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. 144A <br>9.500%, 2/1/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 55 |
|  |  | &nbsp;&nbsp; 397 |
| **Financials—18.7%** | **Financials—18.7%** |  |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC 144A <br>6.625%, 10/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. 144A <br>9.750%, 3/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp. 144A <br>12.000%, 10/1/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; goeasy Ltd. 144A <br>6.875%, 5/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP 144A <br>8.375%, 11/1/33<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings LP 144A <br>6.625%, 12/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc. 144A <br>6.500%, 8/1/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; New Red Finance, Inc. 144A <br>6.125%, 6/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. 144A <br>7.875%, 12/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc. 144A <br>8.875%, 1/31/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| Rocket Cos., Inc. |  |  |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.125%, 8/1/30<sup>(1)</sup> <br>| 26 | &nbsp;&nbsp; 27 |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.375%, 8/1/33<sup>(1)</sup> <br>| 26 | &nbsp;&nbsp; 27 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC 144A <br>3.625%, 3/1/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC 144A <br>5.875%, 8/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC 144A <br>6.750%, 8/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |

---

See Notes to Schedule of Investments

------

**VIRTUS Seix High Yield MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Financials—continued** | **Financials—continued** |  |
| Standard Building Solutions, Inc. |  |  |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.500%, 8/15/32<sup>(1)</sup> <br>| $50 | &nbsp;&nbsp; $51 |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.250%, 8/1/33<sup>(1)</sup> <br>| 6 | &nbsp;&nbsp; 6 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. 144A <br>5.250%, 10/15/28<sup>(1)</sup> <br>| 15 | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; UWM Holdings LLC 144A <br>6.625%, 2/1/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd. 144A <br>9.125%, 7/15/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC 144A <br>7.750%, 10/15/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
|  |  | &nbsp;&nbsp; 951 |
| **Health Care—4.0%** | **Health Care—4.0%** |  |
| &nbsp;&nbsp;&nbsp; DaVita, Inc. 144A <br>6.875%, 9/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc. 144A <br>3.250%, 2/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Insulet Corp. 144A <br>6.500%, 4/1/33<sup>(1)</sup> <br>| 49 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. 144A <br>6.250%, 1/15/33<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
|  |  | &nbsp;&nbsp; 201 |
| **Industrials—20.2%** | **Industrials—20.2%** |  |
| &nbsp;&nbsp;&nbsp; ADT Security Corp. (The) 144A <br>4.875%, 7/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. 144A <br>6.375%, 6/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc. 144A <br>4.750%, 10/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. 144A <br>6.875%, 8/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc. 144A <br>6.125%, 3/15/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc. 144A <br>6.000%, 11/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. 144A <br>4.875%, 7/1/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings, Inc. 144A <br>7.500%, 2/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. 144A <br>6.375%, 3/1/34<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. 144A <br>4.125%, 6/30/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. 144A <br>6.375%, 6/15/33<sup>(1)</sup> <br>| 15 | &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. 144A <br>5.125%, 7/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. 144A <br>4.500%, 4/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; GFL Environmental, Inc. 144A <br>6.750%, 1/15/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. 144A <br>6.625%, 6/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Manitowoc Co., Inc. (The) 144A <br>9.250%, 10/1/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc. 144A <br>7.000%, 7/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Industrials—continued** | **Industrials—continued** |  |
| &nbsp;&nbsp;&nbsp; Ritchie Bros Holdings, Inc. 144A <br>7.750%, 3/15/31<sup>(1)</sup> <br>| $50 | &nbsp;&nbsp; $52 |
| &nbsp;&nbsp;&nbsp; Roller Bearing Co. of America, Inc. 144A <br>4.375%, 10/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. 144A <br>6.250%, 1/31/34<sup>(1)</sup> <br>| 53 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp. 144A <br>4.125%, 11/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
|  |  | &nbsp;&nbsp; 1027 |
| **Information Technology—6.9%** | **Information Technology—6.9%** |  |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc. 144A <br>7.250%, 8/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Ciena Corp. 144A <br>4.000%, 1/31/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Elastic N.V. 144A <br>4.125%, 7/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 48 |
| &nbsp;&nbsp;&nbsp; Entegris Escrow Corp. 144A <br>4.750%, 4/15/29<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp. 144A <br>4.000%, 6/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; PTC, Inc. 144A <br>4.000%, 2/15/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| WESCO Distribution, Inc. |  |  |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.625%, 3/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.375%, 3/15/33<sup>(1)</sup> <br>| 5 | &nbsp;&nbsp; 5 |
|  |  | &nbsp;&nbsp; 352 |
| **Materials—7.7%** | **Materials—7.7%** |  |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. 144A <br>7.375%, 5/1/33<sup>(1)</sup> <br>| 45 | &nbsp;&nbsp; 46 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty Ltd. 144A <br>6.125%, 4/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC 144A <br>6.375%, 7/15/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. <br>7.250%, 2/15/28<br>| 28 | &nbsp;&nbsp; 28 |
| &nbsp;&nbsp;&nbsp; Knife River Corp. 144A <br>7.750%, 5/1/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc. 144A <br>6.375%, 3/1/32<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp. 144A <br>6.875%, 7/15/33<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 54 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC 144A <br>8.875%, 11/15/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
|  |  | &nbsp;&nbsp; 388 |
| **Real Estate—3.1%** | **Real Estate—3.1%** |  |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP <br>6.125%, 1/15/31<br>| 8 | &nbsp;&nbsp; 8 |
| &nbsp;&nbsp;&nbsp; Forestar Group, Inc. 144A <br>5.000%, 3/1/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |
| &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The) 144A <br>5.375%, 8/1/28<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. 144A <br>6.250%, 1/15/33<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
|  |  | &nbsp;&nbsp; 158 |

---

See Notes to Schedule of Investments

------

**VIRTUS Seix High Yield MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Utilities—3.4%** | **Utilities—3.4%** |  |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Co., Inc. 144A <br>6.000%, 10/1/33<sup>(1)</sup> <br>| $12 | &nbsp;&nbsp; $12 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. 144A <br>6.250%, 11/1/34<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 51 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC 144A <br>8.625%, 6/1/30<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 53 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC 144A <br>7.750%, 5/1/35<sup>(1)</sup> <br>| 48 | &nbsp;&nbsp; 54 |
|  |  | &nbsp;&nbsp; 170 |
| **Total Corporate Bonds and Notes** <br>**(Identified Cost $4,964)** | **Total Corporate Bonds and Notes** <br>**(Identified Cost $4,964)** | &nbsp;&nbsp; **5034** |
| **Total Long-Term Investments—99.1%** <br>**(Identified Cost $4,964)** | **Total Long-Term Investments—99.1%** <br>**(Identified Cost $4,964)** | &nbsp;&nbsp; **5034** |
| **TOTAL INVESTMENTS—99.1%** <br>**(Identified Cost $4,964)** | **TOTAL INVESTMENTS—99.1%** <br>**(Identified Cost $4,964)** | &nbsp;&nbsp; **$5034** |
| Other assets and liabilities, net—0.9% | Other assets and liabilities, net—0.9% | &nbsp;&nbsp; 45 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp; **$5079** |

---

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

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| LLC | Limited Liability Company |
| LP | Limited Partnership |

---

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

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Security exempt from registration under Rule 144A of the Securities Act of 1933. <br> These securities may be resold in transactions exempt from registration, normally <br> to qualified institutional buyers. At September 30, 2025, these securities <br> amounted to a value of $4,998 or 98.4% of net assets.<br>|

---

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

---

| | |
|:---|:---|
| **Country Weightings**<sup>†</sup>  | **Country Weightings**<sup>†</sup>  |
| United States | 91<br> %<br>|
| Canada | 3 |
| Bermuda | 3 |
| Australia | 1 |
| Netherlands | 1 |
| Cayman Islands | 1 |
| Total | 100<br> %<br>|
| <sup>†</sup> % of total investments as of September 30, 2025. | <sup>†</sup> % of total investments as of September 30, 2025. |

---

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

---

| | | |
|:---|:---|:---|
|  | Total <br>Value at <br>September 30, 2025<br>| Level 2 <br>Significant <br>Observable <br>Inputs<br>|
| Assets: |  |  |
| Debt Instruments: |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5034 |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5034 |

---

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

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

See Notes to Schedule of Investments

------

**VIRTUS Seix High Yield MACS**

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

**September 30, 2025**

**Note 1. Security Valuation**

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

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

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

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

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

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

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

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

Listed derivatives, such as options, that are actively traded are valued at the last posted settlement price from the exchange where they are principally traded and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts and equity-linked instruments, do not require material subjectivity as pricing inputs are observed from actively quoted markets and are categorized as Level 2 in the hierarchy.

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

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

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

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus Managed Account Completion Shares (MACS) Trust

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

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

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

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

  - **Street Address 1:** 101 Munson Street

  - **City:** Greenfield

  - **State:** MA

  - **Foreign country:** US

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

  - **Telephone number:** 860-263-4790

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

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

- **b. EDGAR series identifier (if any):** S000086627

- **c. LEI of Series:** 254900QF6MWYOZ3ZEG07

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5204455.70

**Total Liabilities:** $125930.74

**Net Assets:** $5078524.96

**Delayed Delivery Securities:** $17000.00

**Cash Not Reported:** $83908.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -16.85434106 | **10-Year:** -13.30096921 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -518.58852010 | **10-Year:** -878.01013550 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000252215 | 0.20%                | 1.33%                | 0.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-613.01                 | $-14728.59                                 |
| Month 2  | $134.37                  | $36446.90                                  |
| Month 3  | $-1825.11                | $5459.22                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHORD ENERGY CORP        | Chord Energy Corp                                                  | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     52000 | PA      | $51637.94     | 1.02%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS | Brandywine Operating Partnership LP                                | CUSIP: 105340AT0<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7982.00      | 0.16%             | 2031-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AMER SPORTS COMPANY      | Amer Sports Co                                                     | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52071.50     | 1.03%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC           | Rocket Cos Inc                                                     | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $26834.96     | 0.53%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC        | Clean Harbors Inc                                                  | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49584.50     | 0.98%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP       | Howard Hughes Corp/The                                             | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49802.61     | 0.98%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BOISE CASCADE COMPANY    | Boise Cascade Co                                                   | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48931.05     | 0.96%             | 2030-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC  | Dream Finders Homes Inc                                            | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51872.75     | 1.02%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC             | Entegris Inc                                                       | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49571.14     | 0.98%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN | Ascent Resources Utica Holdings LLC / ARU Finance Corp             | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51023.35     | 1.00%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC      | Sirius XM Radio LLC                                                | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49759.91     | 0.98%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC   | WESCO Distribution Inc                                             | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5183.14      | 0.10%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV               | Elastic NV                                                         | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $47995.17     | 0.95%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47686.33     | 0.94%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ROBLOX CORP              | ROBLOX Corp                                                        | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47692.74     | 0.94%             | 2030-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD       | Viking Cruises Ltd                                                 | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $53666.00     | 1.06%             | 2031-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC    | Quikrete Holdings Inc                                              | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51792.20     | 1.02%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC     | Noble Finance II LLC                                               | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     29000 | PA      | $30016.71     | 0.59%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION | Vertiv Group Corp                                                  | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48823.97     | 0.96%             | 2028-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC      | BellRing Brands Inc                                                | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51636.55     | 1.02%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC | Vistra Operations Co LLC                                           | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52909.60     | 1.04%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC   | WESCO Distribution Inc                                             | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51961.02     | 1.02%             | 2032-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC         | UWM Holdings LLC                                                   | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50864.16     | 1.00%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC              | Hologic Inc                                                        | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48279.58     | 0.95%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE   | Brundage-Bone Concrete Pumping Holdings Inc                        | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50517.30     | 0.99%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC         | APi Group DE Inc                                                   | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49015.50     | 0.97%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC    | PennyMac Financial Services Inc                                    | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53064.85     | 1.04%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC            | TransDigm Inc                                                      | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     53000 | PA      | $54506.21     | 1.07%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC            | FirstCash Inc                                                      | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51680.40     | 1.02%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51310.75     | 1.01%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC    | Manitowoc Co Inc/The                                               | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52460.63     | 1.03%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I | Performance Food Group Inc                                         | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49876.36     | 0.98%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC   | RB Global Holdings Inc                                             | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52295.15     | 1.03%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP          | Sealed Air Corp                                                    | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $54309.13     | 1.07%             | 2033-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE    | Venture Global Plaquemines LNG LLC                                 | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     48000 | PA      | $54178.00     | 1.07%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP             | ADT Security Corp/The                                              | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48422.33     | 0.95%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC      | Churchill Downs Inc                                                | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51242.76     | 1.01%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC     | Dycom Industries Inc                                               | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48832.21     | 0.96%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS    | Bread Financial Holdings Inc                                       | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53369.30     | 1.05%             | 2029-03-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L | Fortescue Treasury Pty Ltd                                         | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     50000 | PA      | $51667.65     | 1.02%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN | Live Nation Entertainment Inc                                      | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48782.84     | 0.96%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP          | Fair Isaac Corp                                                    | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48627.19     | 0.96%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN ELEC CO         | Hawaiian Electric Co Inc                                           | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12104.31     | 0.24%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TURNING POINT BRANDS INC | Turning Point Brands Inc                                           | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |     49000 | PA      | $51851.80     | 1.02%             | 2032-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD | Transocean Titan Financing Ltd                                     | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     40476 | PA      | $41471.99     | 0.82%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN | 1011778 BC ULC / New Red Finance Inc                               | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     50000 | PA      | $51125.10     | 1.01%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PHINIA INC               | Phinia Inc                                                         | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51509.53     | 1.01%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM | Advanced Drainage Systems Inc                                      | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50885.55     | 1.00%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC           | Rocket Cos Inc                                                     | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $26684.32     | 0.53%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO     | Matador Resources Co                                               | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50478.45     | 0.99%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP | Hilcorp Energy I LP / Hilcorp Finance Co                           | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52513.90     | 1.03%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC  | Light & Wonder International Inc                                   | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55093.50     | 1.08%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE | Rockies Express Pipeline LLC                                       | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49594.40     | 0.98%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC            | Tidewater Inc                                                      | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     29000 | PA      | $31101.04     | 0.61%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC | Builders FirstSource Inc                                           | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51505.30     | 1.01%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET | Smyrna Ready Mix Concrete LLC                                      | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52797.14     | 1.04%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC            | Cable One Inc                                                      | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42363.27     | 0.83%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC        | Herc Holdings Inc                                                  | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51375.15     | 1.01%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC        | Post Holdings Inc                                                  | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51403.91     | 1.01%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HECLA MINING CO          | Hecla Mining Co                                                    | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28253.18     | 0.56%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CIENA CORP               | Ciena Corp                                                         | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47685.56     | 0.94%             | 2030-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC   | Nationstar Mortgage Holdings Inc                                   | CUSIP: 63861CAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51294.40     | 1.01%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PTC INC                  | PTC Inc                                                            | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48952.43     | 0.96%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC            | LGI Homes Inc                                                      | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52491.00     | 1.03%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI | Standard Building Solutions Inc                                    | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51301.05     | 1.01%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC           | ANGI Group LLC                                                     | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $46992.50     | 0.93%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC | Allison Transmission Inc                                           | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50416.10     | 0.99%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD      | NCL Corp Ltd                                                       | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $53235.15     | 1.05%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY           | Ryan Specialty LLC                                                 | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50559.30     | 1.00%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC     | BWX Technologies Inc                                               | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48805.93     | 0.96%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP         | Knife River Corp                                                   | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52462.05     | 1.03%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION      | Insulet Corp                                                       | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |     49000 | PA      | $50941.97     | 1.00%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROLLER BEARING CO OF AME | Roller Bearing Co of America Inc                                   | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48562.27     | 0.96%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC     | Cleveland-Cliffs Inc                                               | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45939.15     | 0.90%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP    | Freedom Mortgage Corp                                              | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53000.00     | 1.04%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC     | Sonic Automotive Inc                                               | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48559.24     | 0.96%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC        | Lithia Motors Inc                                                  | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47480.87     | 0.93%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI | Standard Building Solutions Inc                                    | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6080.31      | 0.12%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC            | PRA Group Inc                                                      | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51596.90     | 1.02%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CROCS INC                | Crocs Inc                                                          | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54968.85     | 1.08%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC   | Venture Global LNG Inc                                             | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $55101.25     | 1.08%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC   | Group 1 Automotive Inc                                             | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51151.70     | 1.01%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP            | TopBuild Corp                                                      | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46872.51     | 0.92%             | 2032-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP      | Kinetik Holdings LP                                                | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51321.10     | 1.01%             | 2028-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD               | goeasy Ltd                                                         | CUSIP: 380355AM9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $49749.47     | 0.98%             | 2030-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC           | NRG Energy Inc                                                     | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51254.55     | 1.01%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES          | Thor Industries Inc                                                | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47381.62     | 0.93%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC  | Talen Energy Supply LLC                                            | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53076.95     | 1.05%             | 2030-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BLUELINX HOLDING         | BlueLinx Holdings Inc                                              | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49223.10     | 0.97%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC     | Amentum Holdings Inc                                               | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51918.30     | 1.02%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN  | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc              | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51694.55     | 1.02%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC      | Axon Enterprise Inc                                                | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51351.37     | 1.01%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC   | CACI International Inc                                             | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15473.26     | 0.30%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC    | Molina Healthcare Inc                                              | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50555.45     | 1.00%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD              | Valaris Ltd                                                        | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     30000 | PA      | $31135.33     | 0.61%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC    | GFL Environmental Inc                                              | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $52321.03     | 1.03%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC               | Arcosa Inc                                                         | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52224.65     | 1.03%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN | Graphic Packaging International LLC                                | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50773.35     | 1.00%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC        | Iron Mountain Inc                                                  | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51000.75     | 1.00%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES     | Winnebago Industries Inc                                           | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29940.97     | 0.59%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SNAP INC                 | Snap Inc                                                           | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51104.93     | 1.01%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU | Installed Building Products Inc                                    | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49916.46     | 0.98%             | 2028-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DAVITA INC               | DaVita Inc                                                         | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51651.80     | 1.02%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC       | Forestar Group Inc                                                 | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49532.06     | 0.98%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST  | Starwood Property Trust Inc                                        | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15004.34     | 0.30%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO              | Acushnet Co                                                        | CUSIP: 005095AA2<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51841.75     | 1.02%             | 2028-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MASTERBRAND INC          | Masterbrand Inc                                                    | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51671.30     | 1.02%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer