# EDGAR Filing Document

**Accession Number:** 0001423227
**File Stem:** 0000940400-25-009441
**Filing Date:** 2025-11
**Character Count:** 40862
**Document Hash:** 3e6aecfac2ac155ae445908b07e19154
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009441.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009441

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus Strategy Trust
- **CENTRAL INDEX KEY:** 0001423227

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22167
- **FILM NUMBER:** 251512165

**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 NFJ Emerging Markets Value Fund (Series ID: S000038497)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000118780 | Institutional Class | AZMIX           |
| C000118783 | Class A             | AZMAX           |
| C000118784 | Class C             | AZMCX           |

## 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 NFJ Emerging Markets Value Fund

- **b. EDGAR series identifier (if any):** S000038497

- **c. LEI of Series:** 549300HAOTPSICDX5F61

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $16746281.99

**Total Liabilities:** $370373.25

**Net Assets:** $16375908.74

**Cash Not Reported:** $323943.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000118783 | 0.67%                | 2.98%                | 11.56%               |
| Class ID C000118780 | 0.67%                | 3.04%                | 11.54%               |
| Class ID C000118784 | 0.62%                | 2.91%                | 11.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $254566.37               | $-156465.00                                |
| Month 2  | $234069.44               | $215110.57                                 |
| Month 3  | $522300.29               | $1168132.07                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Xiaomi Corp                    | Xiaomi Corp                                    | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | CN        |     91400 | NS      | $634236.92    | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CP ALL PCL                     | CP ALL PCL                                     | CUSIP: 000000000<br>LEI: 894500LSBZLM09TY1A91 | Long             | EC               | CORP              | TH        |     73100 | NS      | $106587.72    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc                         | XP Inc                                         | CUSIP: 000000000<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | BR        |      6400 | NS      | $120256.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| DUN'AN ENVIRONMENTAL           | Zhejiang Dun'An Artificial Environment Co Ltd  | CUSIP: 000000000<br>LEI: 300300NLOQ6Y5Y7CDD90 | Long             | EC               | CORP              | CN        |     50800 | NS      | $101550.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MonotaRO Co Ltd                | MonotaRO Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4200 | NS      | $61231.36     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SPD BANK                       | Shanghai Pudong Development Bank Co Ltd        | CUSIP: 000000000<br>LEI: 300300C1031031001330 | Long             | EC               | CORP              | CN        |     44200 | NS      | $73889.68     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| QHSLI                          | Qinghai Salt Lake Industry Co Ltd              | CUSIP: 000000000<br>LEI: 300300Q8WSV1OODU9092 | Long             | EC               | CORP              | CN        |     43900 | NS      | $128583.47    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Dixon Technologies India Ltd   | Dixon Technologies India Ltd                   | CUSIP: 000000000<br>LEI: 335800D7XO7AVXXJ8575 | Long             | EC               | CORP              | IN        |       338 | NS      | $62134.40     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Aditya Birla Capital Ltd       | Aditya Birla Capital Ltd                       | CUSIP: 000000000<br>LEI: 5299009K0PUXVSIRL787 | Long             | EC               | CORP              | IN        |     26454 | NS      | $87103.68     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Asia Vital Components Co Ltd   | Asia Vital Components Co Ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2000 | NS      | $64374.30     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                   | SK Hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |       405 | NS      | $100308.26    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rede D'Or Sao Luiz SA          | Rede D'Or Sao Luiz SA                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     12300 | NS      | $97480.20     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Securities Co Ltd   | Industrial Securities Co Ltd                   | CUSIP: 000000000<br>LEI: 300300E1011435000093 | Long             | EC               | CORP              | CN        |    131800 | NS      | $121089.84    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NHPC Ltd                       | NHPC Ltd                                       | CUSIP: 000000000<br>LEI: 3358003ZPPTGWT595J46 | Long             | EC               | CORP              | IN        |    117214 | NS      | $113954.89    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter & Co Inc                 | Inter & Co Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     11440 | NS      | $105591.20    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi National Bank/The        | Saudi National Bank/The                        | CUSIP: 000000000<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |     10789 | NS      | $112717.46    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Wistron Corp                   | Wistron Corp                                   | CUSIP: 000000000<br>LEI: 254900DIEONKUALBFM06 | Long             | EC               | CORP              | TW        |     23000 | NS      | $106027.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     35121 | NS      | $1503802.91   | 9.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JD Logistics Inc               | JD Logistics Inc                               | CUSIP: 000000000<br>LEI: 655600LWTFVMV3E2A890 | Long             | EC               | CORP              | CN        |     48500 | NS      | $81644.06     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC          | Aldar Properties PJSC                          | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |     31363 | NS      | $80946.69     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cartrade Tech Ltd              | Cartrade Tech Ltd                              | CUSIP: 000000000<br>LEI: 984500F5CDO5D86C1326 | Long             | EC               | CORP              | IN        |      2417 | NS      | $66696.42     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AURAS Technology Co Ltd        | AURAS Technology Co Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      6000 | NS      | $165365.18    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd              | Bharti Airtel Ltd                              | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |      2350 | NS      | $49716.21     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro SA - Petrobras             | CUSIP: 000000000<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      9700 | NS      | $61346.61     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp                    | Wiwynn Corp                                    | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |      1000 | NS      | $108766.98    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Al Rajhi Bank                  | Al Rajhi Bank                                  | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |      9958 | NS      | $284650.85    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                                  | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      8060 | NS      | $86329.18     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                           | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      8980 | NS      | $765070.45    | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SG Micro Corp                  | SG Micro Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      8900 | NS      | $104135.17    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Ltd                    | Naspers Ltd                                    | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |       755 | NS      | $273438.53    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Huizhou Desay Sv Automotive Co | Huizhou Desay Sv Automotive Co Ltd             | CUSIP: 000000000<br>LEI: 655600CCT6YFPT86LA32 | Long             | EC               | CORP              | CN        |      5400 | NS      | $114721.88    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ningbo Deye Technology Co Ltd  | Ningbo Deye Technology Co Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     11600 | NS      | $131995.03    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Riyad Bank                     | Riyad Bank                                     | CUSIP: 000000000<br>LEI: 54930037RJ782ISGGM71 | Long             | EC               | CORP              | SA        |     13554 | NS      | $98306.44     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB d | Grupo Financiero Banorte SAB de CV             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      6800 | NS      | $68295.19     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                                | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       332 | NS      | $322780.63    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| YEALINK NETWORK                | Yealink Network Technology Corp Ltd            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     17500 | NS      | $90960.81     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                 | ICICI Bank Ltd                                 | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      3395 | NS      | $51543.24     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd        | Reliance Industries Ltd                        | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      5953 | NS      | $91451.81     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Lodha Developers Ltd           | Lodha Developers Ltd                           | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |      4385 | NS      | $56093.63     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| IndiaMart InterMesh Ltd        | IndiaMart InterMesh Ltd                        | CUSIP: 000000000<br>LEI: 335800VCSXC76EXLSH68 | Long             | EC               | CORP              | IN        |      2211 | NS      | $58678.61     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Al-Jazira                 | Bank Al-Jazira                                 | CUSIP: 000000000<br>LEI: 558600FGNP3JML7WY215 | Long             | EC               | CORP              | SA        |     27916 | NS      | $95430.41     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd      | Capitec Bank Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |       281 | NS      | $56525.42     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Heavy Electricals Ltd   | Bharat Heavy Electricals Ltd                   | CUSIP: 000000000<br>LEI: 3358007X5FQ2R445Z747 | Long             | EC               | CORP              | IN        |     23971 | NS      | $64376.23     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LXJM                           | Luxshare Precision Industry Co Ltd             | CUSIP: 000000000<br>LEI: 300300QLLDUELXN16530 | Long             | EC               | CORP              | CN        |     12230 | NS      | $111141.99    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Banque Saudi Fransi            | Banque Saudi Fransi                            | CUSIP: 000000000<br>LEI: 558600N07EDF4ATYR106 | Long             | EC               | CORP              | SA        |     21243 | NS      | $101111.29    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Founder Securities Co Ltd      | Founder Securities Co Ltd                      | CUSIP: 000000000<br>LEI: 300300DSN6TINPUMGY45 | Long             | EC               | CORP              | CN        |     85600 | NS      | $97884.23     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd          | Daiichi Sankyo Co Ltd                          | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |      6400 | NS      | $143462.83    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Glovis Co Ltd          | Hyundai Glovis Co Ltd                          | CUSIP: 000000000<br>LEI: 988400U6RDXNJ5ZRN304 | Long             | EC               | CORP              | KR        |       759 | NS      | $89475.50     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| First Abu Dhabi Bank PJSC      | First Abu Dhabi Bank PJSC                      | CUSIP: 000000000<br>LEI: 2138002Y3WMK6RZS8H90 | Long             | EC               | CORP              | AE        |     19844 | NS      | $84496.58     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Technology Co Ltd      | Montage Technology Co Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      6051 | NS      | $131586.90    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale SA                                        | CUSIP: 000000000<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      6500 | NS      | $70321.76     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA       | Itau Unibanco Holding SA                       | CUSIP: 000000000<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EP               | CORP              | BR        |      8300 | NS      | $60866.93     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Geely Automobile Holdings Ltd  | Geely Automobile Holdings Ltd                  | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | EC               | CORP              | HK        |     40000 | NS      | $100488.95    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Adnoc Gas PLC                  | Adnoc Gas PLC                                  | CUSIP: 000000000<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |    107932 | NS      | $104022.35    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro SA - Petrobras             | CUSIP: 000000000<br>LEI: 5493000J801JZRCMFE49 | Long             | EP               | CORP              | BR        |      9100 | NS      | $53602.33     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc            | Astellas Pharma Inc                            | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |      8900 | NS      | $96321.13     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd                     | BYD Co Ltd                                     | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |      5900 | NS      | $83549.75     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Classys Inc                    | Classys Inc                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1290 | NS      | $46430.99     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Full Truck Alliance Co Ltd     | Full Truck Alliance Co Ltd                     | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | CN        |      6460 | NS      | $83786.20     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Etihad Etisalat Co             | Etihad Etisalat Co                             | CUSIP: 000000000<br>LEI: 2549007BA9ABDE3HVK79 | Long             | EC               | CORP              | SA        |      4475 | NS      | $80605.37     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AU Small Finance Bank Ltd      | AU Small Finance Bank Ltd                      | CUSIP: 000000000<br>LEI: 3358006J6L5P5MWKCU97 | Long             | EC               | CORP              | IN        |     10713 | NS      | $88248.66     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc          | Anglogold Ashanti Plc                          | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      1536 | NS      | $107931.79    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT       | Bank Central Asia Tbk PT                       | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |    261000 | NS      | $119419.44    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Localiza Rent a Car SA         | Localiza Rent a Car SA                         | CUSIP: 000000000<br>LEI: 984500C442A7E0CD4D11 | Long             | EC               | CORP              | BR        |     14500 | NS      | $107478.04    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNNY OPTICAL                  | Sunny Optical Technology Group Co Ltd          | CUSIP: 000000000<br>LEI: 3003004QIVP0DFVVWM94 | Long             | EC               | CORP              | CN        |     11100 | NS      | $129015.86    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingsoft Corp Ltd              | Kingsoft Corp Ltd                              | CUSIP: 000000000<br>LEI: 529900UVT35D3Q7YQY41 | Long             | EC               | CORP              | CN        |     21400 | NS      | $95203.39     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Banque Centrale Populaire      | Banque Centrale Populaire                      | CUSIP: 000000000<br>LEI: 54930083GPEJRQSDDR70 | Long             | EC               | CORP              | MA        |      2670 | NS      | $86582.06     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SW-TECH                        | Hangzhou Shunwang Technology Co Ltd            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     24400 | NS      | $87029.62     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| East Money Information Co Ltd  | East Money Information Co Ltd                  | CUSIP: 000000000<br>LEI: 836800ZFB0ZEK3KKW487 | Long             | EC               | CORP              | CN        |     27500 | NS      | $104770.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Navin Fluorine International L | Navin Fluorine International Ltd               | CUSIP: 000000000<br>LEI: 335800OVIUAAKYG44C59 | Long             | EC               | CORP              | IN        |      2074 | NS      | $107952.76    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Oil Co           | Saudi Arabian Oil Co                           | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | EC               | CORP              | SA        |     15133 | NS      | $99347.89     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                     | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |      1226 | NS      | $58021.03     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DiDi Global Inc                | DiDi Global Inc                                | CUSIP: 23292E108<br>LEI: 8368006Y2DHY77ADSY31 | Long             | EC               | CORP              | CN        |     17808 | NS      | $110765.76    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates Telecommunications Gr | Emirates Telecommunications Group Co PJSC      | CUSIP: 000000000<br>LEI: 529900XDPQPWEQ9BGB80 | Long             | EC               | CORP              | AE        |     20589 | NS      | $105606.17    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Mining Co        | Saudi Arabian Mining Co                        | CUSIP: 000000000<br>LEI: 254900R4HAVLB4GY9713 | Long             | EC               | CORP              | SA        |      7670 | NS      | $130894.35    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |        83 | NS      | $193966.02    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kotak Mahindra Bank Ltd        | Kotak Mahindra Bank Ltd                        | CUSIP: 000000000<br>LEI: 335800E6GTTXKHXE2I75 | Long             | EC               | CORP              | IN        |      3248 | NS      | $72895.38     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| KE Holdings Inc                | KE Holdings Inc                                | CUSIP: 000000000<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | CN        |     12200 | NS      | $82541.01     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Arabian Internet & Communicati | Arabian Internet & Communications Services Co  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      1725 | NS      | $118397.69    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER Corp                     | NAVER Corp                                     | CUSIP: 000000000<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |       408 | NS      | $78078.47     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd   | Impala Platinum Holdings Ltd                   | CUSIP: 000000000<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |      9624 | NS      | $122905.22    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                      | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |     67723 | NS      | $1540355.69   | 9.41%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                     | JD.com Inc                                     | CUSIP: 000000000<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |     37727 | NS      | $671449.89    | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd             | Trip.com Group Ltd                             | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | SG        |      1300 | NS      | $99563.73     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Arab National Bank             | Arab National Bank                             | CUSIP: 000000000<br>LEI: 213800CYWGYQVT1ZBQ57 | Long             | EC               | CORP              | SA        |     17284 | NS      | $113883.96    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kelington Group Bhd            | Kelington Group Bhd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     62300 | NS      | $81122.49     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC Drilling Co PJSC         | ADNOC Drilling Co PJSC                         | CUSIP: 000000000<br>LEI: 254900JPRSQL1PM0JV19 | Long             | EC               | CORP              | AE        |     34038 | NS      | $52172.97     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lupin Ltd                      | Lupin Ltd                                      | CUSIP: 000000000<br>LEI: 335800HHXTESDEE2FC65 | Long             | EC               | CORP              | IN        |      3772 | NS      | $81197.49     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd      | Zijin Mining Group Co Ltd                      | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |     26900 | NS      | $111251.19    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Haier Smart Home Co Ltd        | Haier Smart Home Co Ltd                        | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |     33400 | NS      | $118849.19    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands | NU Holdings Ltd/Cayman Islands                 | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |      6599 | NS      | $105649.99    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual SA           | Banco BTG Pactual SA                           | CUSIP: 000000000<br>LEI: ZXLTQRYIK6IJH3R0IK66 | Long             | EC               | CORP              | BR        |      7800 | NS      | $70800.51     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Aluminum Corp of China Ltd     | Aluminum Corp of China Ltd                     | CUSIP: 000000000<br>LEI: 529900TKZUWQLIQN6T48 | Long             | EC               | CORP              | CN        |    118000 | NS      | $122367.79    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuaishou Technology            | Kuaishou Technology                            | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | CN        |      8300 | NS      | $90231.88     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Charoen Pokphand Foods PCL     | Charoen Pokphand Foods PCL                     | CUSIP: 000000000<br>LEI: 529900FJ3AI2GKGIWK15 | Long             | EC               | CORP              | TH        |    122700 | NS      | $84437.90     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro-Fabrication Equ | Advanced Micro-Fabrication Equipment Inc China | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2876 | NS      | $120798.10    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Realtek Semiconductor Corp     | Realtek Semiconductor Corp                     | CUSIP: 000000000<br>LEI: 5299002E7F36O00MYY75 | Long             | EC               | CORP              | TW        |      6000 | NS      | $108274.82    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Iflytek Co Ltd                 | Iflytek Co Ltd                                 | CUSIP: 000000000<br>LEI: 3003000T23C63KVWOH32 | Long             | EC               | CORP              | CN        |     15800 | NS      | $124407.70    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                     | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      6681 | NS      | $399512.42    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                    | NetEase Inc                                    | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | CN        |      2400 | NS      | $73030.54     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Elm Co                         | Elm Co                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |       517 | NS      | $123453.02    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Paint Holdings Co Ltd   | Nippon Paint Holdings Co Ltd                   | CUSIP: 000000000<br>LEI: 529900RYRJUN78A7PL87 | Long             | EC               | CORP              | JP        |     10100 | NS      | $68979.27     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Polyus PJSC                    | Polyus PJSC                                    | CUSIP: 73181M117<br>LEI: 549300FUXVT7TF6ZKV71 | Long             | EC               | CORP              | RU        |      4887 | NS      | $4.89         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Amber Enterprises India Ltd    | Amber Enterprises India Ltd                    | CUSIP: 000000000<br>LEI: 3358009JZU4XT3666G06 | Long             | EC               | CORP              | IN        |      1266 | NS      | $115337.52    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hugel Inc                      | Hugel Inc                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       211 | NS      | $45416.77     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CP AXTRA PCL                   | CP AXTRA PCL                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    143700 | NS      | $99776.27     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Lombard General Insuranc | ICICI Lombard General Insurance Co Ltd         | CUSIP: 000000000<br>LEI: 335800ZZITZ7ZZZ2ZX87 | Long             | EC               | CORP              | IN        |      1639 | NS      | $34884.85     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates NBD Bank PJSC         | Emirates NBD Bank PJSC                         | CUSIP: 000000000<br>LEI: 54930029BCN8HF3B1286 | Long             | EC               | CORP              | AE        |     10942 | NS      | $72389.59     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco SA              | Banco Bradesco SA                              | CUSIP: 000000000<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EP               | CORP              | BR        |     32300 | NS      | $107540.23    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Biopharmaceuticals Co Ltd   | SK Biopharmaceuticals Co Ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1442 | NS      | $104214.96    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphite India Ltd             | Graphite India Ltd                             | CUSIP: 000000000<br>LEI: 335800VMGC17U49YJX23 | Long             | EC               | CORP              | IN        |     11691 | NS      | $73137.26     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIO SA/Brazil                 | PRIO SA/Brazil                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     16220 | NS      | $116082.45    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MTN Group Ltd                  | MTN Group Ltd                                  | CUSIP: 000000000<br>LEI: 2549009JD6Q6XHZS5E05 | Long             | EC               | CORP              | ZA        |     14600 | NS      | $122582.51    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Virtus Strategy Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer