# EDGAR Filing Document

**Accession Number:** 0002025137
**File Stem:** 0000940400-25-010874
**Filing Date:** 2025-11
**Character Count:** 87868
**Document Hash:** af056db6e54454e4e2b3ec451af8ccc0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010874.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000940400-25-010874

**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:** 251527444

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

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

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

## Series and Classes Contracts Data

### Virtus Newfleet Floating Rate MACS (Series ID: S000086624)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000252212 | Virtus Newfleet Floating Rate MACS | VMAFX           |

## Nport-Ex

**VIRTUS Newfleet Floating Rate MACS**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**September 30, 2025**

($ reported in thousands)

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

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Leveraged Loans—96.0%** | **Leveraged Loans—96.0%** | **Leveraged Loans—96.0%** |
| **Aerospace—4.6%** | **Aerospace—4.6%** |  |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc. (3 month Term SOFR + 2.250%) <br>6.575%, 4/20/28<sup>(1)</sup> <br>| $82 | &nbsp;&nbsp; $81 |
| &nbsp;&nbsp;&nbsp; Brown Group Holding LLC (1 month Term SOFR + <br> 2.500%) <br>6.663%, 7/1/31<sup>(1)</sup> <br>| 174 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. (3 month Term SOFR + 3.750%) <br>8.075%, 10/20/27<sup>(1)</sup> <br>| 65 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC Tranche B (1 month Term SOFR + <br> 2.750%) <br>6.913%, 1/27/32<sup>(1)</sup> <br>| 104 | &nbsp;&nbsp; 104 |
| Kaman Corp. |  |  |
| &nbsp;&nbsp;&nbsp; (3 month Term SOFR + 2.500%) <br>6.828%, 2/26/32<sup>(1)</sup> <br>| 1 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; (3-6 month Term SOFR + 2.500%) <br>6.544% - 6.699%, 2/26/32<sup>(1)</sup> <br>| 96 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Rand Parent LLC 2025, Tranche B (3 month Term SOFR + <br> 3.000%) <br>7.002%, 3/18/30<sup>(1)</sup> <br>| 45 | &nbsp;&nbsp; 45 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Tranche J (3 month Term SOFR + 2.500%) <br>6.502%, 2/28/31<sup>(1)</sup> <br>| 29 | &nbsp;&nbsp; 30 |
| &nbsp;&nbsp;&nbsp; Tranche K (3 month Term SOFR + 2.250%) <br>6.252%, 3/22/30<sup>(1)</sup> <br>| 118 | &nbsp;&nbsp; 118 |
|  |  | &nbsp;&nbsp; 713 |
| **Chemicals—4.1%** | **Chemicals—4.1%** |  |
| &nbsp;&nbsp;&nbsp; Ineos Finance plc 2030 (1 month Term SOFR + 3.250%) <br>7.413%, 2/18/30<sup>(1)</sup> <br>| 276 | &nbsp;&nbsp; 249 |
| &nbsp;&nbsp;&nbsp; Lummus Technology Holdings V LLC Tranche B (1 month <br> Term SOFR + 2.500%) <br>6.663%, 12/31/29<sup>(1)</sup> <br>| 202 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp; Nouryon Finance B.V. 2024, Tranche B-1 (6 month Term <br> SOFR + 3.250%) <br>7.500%, 4/3/28<sup>(1)</sup> <br>| 77 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Windsor Holdings III LLC 2025, Tranche B (1 month Term <br> SOFR + 2.750%) <br>6.916%, 8/1/30<sup>(1)</sup> <br>| 104 | &nbsp;&nbsp; 104 |
|  |  | &nbsp;&nbsp; 632 |
| **Consumer Durables—0.3%** | **Consumer Durables—0.3%** |  |
| &nbsp;&nbsp;&nbsp; Resideo Funding, Inc. (3 month Term SOFR + 2.000%) <br>6.038%, 8/13/32<sup>(1)</sup> <br>| 40 | &nbsp;&nbsp; 40 |
| **Consumer Non-Durables—0.8%** | **Consumer Non-Durables—0.8%** |  |
| &nbsp;&nbsp;&nbsp; Albion Financing 3 S.a.r.l. 2025, Tranche A (3 month Term <br> SOFR + 3.000%) <br>7.215%, 5/21/31<sup>(1)</sup> <br>| 40 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. 2025, Tranche B (1 month Term <br> SOFR + 2.000%) <br>6.135%, 3/13/32<sup>(1)</sup> <br>| 80 | &nbsp;&nbsp; 80 |
|  |  | &nbsp;&nbsp; 120 |
| **Energy—4.5%** | **Energy—4.5%** |  |
| &nbsp;&nbsp;&nbsp; CVR CHC LP Tranche B (3 month Term SOFR + 4.000%) <br>8.002%, 12/30/27<sup>(1)</sup> <br>| 32 | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Epic Crude Services LP Tranche B (3 month Term SOFR + <br> 2.500%) <br>6.828%, 10/15/31<sup>(1)</sup> <br>| 135 | &nbsp;&nbsp; 135 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Energy—continued** | **Energy—continued** |  |
| &nbsp;&nbsp;&nbsp; Freeport LNG Investments LLP 2025, Tranche B (3 month <br> Term SOFR + 3.250%) <br>7.575%, 12/21/28<sup>(1)</sup> <br>| $145 | &nbsp;&nbsp; $145 |
| &nbsp;&nbsp;&nbsp; GIP Pilot Acquisition Partners LP (3 month Term SOFR + <br> 2.000%) <br>6.286%, 10/4/30<sup>(1)</sup> <br>| 58 | &nbsp;&nbsp; 58 |
| &nbsp;&nbsp;&nbsp; Hunterstown Generation LLC (3 month Term SOFR + <br> 3.500%) <br>7.502% - 9.750%, 11/6/31<sup>(1)</sup> <br>| 88 | &nbsp;&nbsp; 88 |
| &nbsp;&nbsp;&nbsp; Oryx Midstream Services Permian Basin LLC Tranche B <br> (1 month Term SOFR + 2.250%) <br>6.416%, 10/5/28<sup>(1)</sup> <br>| 68 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; Traverse Midstream Partners LLC Tranche B (3 month <br> Term SOFR + 2.500%) <br>6.808%, 2/16/28<sup>(1)</sup> <br>| 63 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Whitewater DBR Holdco LLC Tranche C (3 month Term <br> SOFR + 2.311%) <br>6.313%, 3/3/31<sup>(1)</sup> <br>| 109 | &nbsp;&nbsp; 109 |
|  |  | &nbsp;&nbsp; 698 |
| **Financials—6.9%** | **Financials—6.9%** |  |
| &nbsp;&nbsp;&nbsp; Acrisure LLC 2024, Tranche B-6 (1 month Term SOFR + <br> 3.000%) <br>7.163%, 11/6/30<sup>(1)</sup> <br>| 322 | &nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp; AL GCX Fund VIII Holdings LLC Tranche B (1 month Term <br> SOFR + 2.000%) <br>6.223%, 1/30/32<sup>(1)</sup> <br>| 139 | &nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc. (3 month Term SOFR + 2.250%) <br>6.252%, 1/30/32<sup>(1)</sup> <br>| 139 | &nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty Ltd. 2025, Tranche B (3-6 <br> month Term SOFR + 2.750%) <br>6.752% - 6.950%, 2/15/31<sup>(1)</sup> <br>| 174 | &nbsp;&nbsp; 173 |
| &nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc. 2024, Tranche B (1 month <br> Term SOFR + 2.750%) <br>6.913%, 6/13/31<sup>(1)</sup> <br>| 40 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Citadel Securities LP 2024 (1 month Term SOFR + <br> 2.000%) <br>6.163%, 10/31/31<sup>(1)</sup> <br>| 171 | &nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp; Finco I LLC 2025 <br>0.000%, 6/27/29<sup>(1)(2)</sup> <br>| 80 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp; Truist Insurance Holdings LLC 2024, Tranche B <br>0.000%, 5/6/31<sup>(1)(2)</sup> <br>| 15 | &nbsp;&nbsp; 15 |
|  |  | &nbsp;&nbsp; 1077 |
| **Food / Tobacco—6.6%** | **Food / Tobacco—6.6%** |  |
| &nbsp;&nbsp;&nbsp; Chobani LLC Tranche B, First Lien (1 month Term SOFR + <br> 2.500%) <br>6.663%, 10/25/27<sup>(1)</sup> <br>| 79 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; Del Monte Foods Corp. II, Inc. (1 month Term SOFR + <br> 9.600%) <br>13.774%, 4/2/26<sup>(1)</sup> <br>| 68 | &nbsp;&nbsp; 65 |
| Del Monte Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; (1 month Term SOFR + 9.600%) <br>13.750%, 4/2/26<sup>(1)</sup> <br>| 100 | &nbsp;&nbsp; 80 |
| &nbsp;&nbsp;&nbsp; (3 month Term SOFR + 4.400%) <br>8.423% - 8.571%, 8/2/28<sup>(3)(4)</sup> <br>| 132 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp; (3 month Term SOFR + 4.900%) <br>8.923%, 8/2/28<sup>(4)</sup> <br>| 303 | &nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp; (3 month Term SOFR + 8.150%) <br>12.321%, 8/2/28<sup>(4)</sup> <br>| 58 | &nbsp;&nbsp; 27 |

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet Floating Rate MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Food / Tobacco—continued** | **Food / Tobacco—continued** |  |
| &nbsp;&nbsp;&nbsp; Froneri International Ltd. Tranche B-4 (6 month Term <br> SOFR + 2.000%) <br>6.197%, 9/30/31<sup>(1)</sup> <br>| $328 | &nbsp;&nbsp; $326 |
| &nbsp;&nbsp;&nbsp; Red SPV LLC (1 month Term SOFR + 2.250%) <br>6.386%, 3/15/32<sup>(1)</sup> <br>| 100 | &nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp; Sazerac Co., Inc. Tranche B-1 (1 month Term SOFR + <br> 2.500%) <br>6.700%, 7/9/32<sup>(1)</sup> <br>| 10 | &nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp; Sigma Holdco B.V. Tranche B-12 (3 month Term SOFR + <br> 3.910%) <br>8.070%, 1/3/28<sup>(1)</sup> <br>| 99 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings, Inc. 2025 (3 month Term SOFR + <br> 2.250%) <br>6.252%, 3/31/28<sup>(1)</sup> <br>| 236 | &nbsp;&nbsp; 236 |
|  |  | &nbsp;&nbsp; 1026 |
| **Forest Prod / Containers—0.9%** | **Forest Prod / Containers—0.9%** |  |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. Tranche B (1 month <br> Term SOFR + 3.175%) <br>7.338%, 4/13/29<sup>(1)</sup> <br>| 90 | &nbsp;&nbsp; 90 |
| &nbsp;&nbsp;&nbsp; Klockner Pentaplast of America, Inc. Tranche B (5 month <br> Term SOFR + 4.975%) <br>9.019%, 2/12/26<sup>(1)</sup> <br>| 99 | &nbsp;&nbsp; 47 |
|  |  | &nbsp;&nbsp; 137 |
| **Gaming / Leisure—5.4%** | **Gaming / Leisure—5.4%** |  |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. Tranche B (1 month Term <br> SOFR + 2.250%) <br>6.413%, 2/6/30<sup>(1)</sup> <br>| 98 | &nbsp;&nbsp; 97 |
| &nbsp;&nbsp;&nbsp; ECL Entertainment LLC 2025, Tranche B (1 month Term <br> SOFR + 3.000%) <br>7.163%, 8/30/30<sup>(1)</sup> <br>| 84 | &nbsp;&nbsp; 84 |
| &nbsp;&nbsp;&nbsp; Entain plc Tranche B-6 (1-3 month Term SOFR + 2.250%) <br>6.370% - 6.402%, 10/31/29<sup>(1)</sup> <br>| 94 | &nbsp;&nbsp; 94 |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment plc Tranche B (3 month Term SOFR <br> + 2.000%) <br>6.002%, 6/4/32<sup>(1)</sup> <br>| 159 | &nbsp;&nbsp; 159 |
| &nbsp;&nbsp;&nbsp; Life Time, Inc. 2025, Tranche B, First Lien (1 month Term <br> SOFR + 2.000%) <br>6.250%, 11/5/31<sup>(1)</sup> <br>| 149 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp. Tranche B-1 (1 month Term SOFR <br> + 2.864%) <br>7.028%, 3/13/28<sup>(1)</sup> <br>| 80 | &nbsp;&nbsp; 79 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC Tranche B-5 (2 month Term SOFR + <br> 2.000%) <br>6.038%, 11/21/31<sup>(1)</sup> <br>| 174 | &nbsp;&nbsp; 174 |
|  |  | &nbsp;&nbsp; 836 |
| **Health Care—8.3%** | **Health Care—8.3%** |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp. (1 month Term SOFR + 4.000%) <br>8.613%, 9/29/28<sup>(1)</sup> <br>| 44 | &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp; Cotiviti, Inc. (1 month Term SOFR + 2.750%) <br>7.030%, 5/1/31<sup>(1)</sup> <br>| 64 | &nbsp;&nbsp; 63 |
| &nbsp;&nbsp;&nbsp; Financiere Mendel (3 month Term SOFR + 2.750%) <br>6.976%, 11/8/30<sup>(1)</sup> <br>| 25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp. Tranche B (3 month Term <br> SOFR + 4.100%) <br>8.102%, 10/1/27<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 49 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Health Care—continued** | **Health Care—continued** |  |
| &nbsp;&nbsp;&nbsp; Grifols Worldwide Operations USA, Inc. Tranche B (1 <br> month Term SOFR + 2.100%) <br>6.263%, 11/15/27<sup>(1)</sup> <br>| $80 | &nbsp;&nbsp; $80 |
| &nbsp;&nbsp;&nbsp; Lannett Co., Inc. First Lien <br>2.000%, 6/16/30<sup>(3)</sup> <br>| 6 | &nbsp;&nbsp; 5 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Tranche B (3 month Term SOFR + 3.750%) <br>8.068%, 5/16/31<sup>(1)</sup> <br>| 64 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; Tranche B-2 (3 month Term SOFR + 3.500%) <br>7.660%, 5/16/31<sup>(1)</sup> <br>| 119 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP 2030 (1 month Term SOFR + <br> 2.000%) <br>6.163%, 10/23/30<sup>(1)</sup> <br>| 219 | &nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp; Opal U.S. LLC Tranche B-2 (3 month Term SOFR + <br> 3.250%) <br>7.252%, 4/28/32<sup>(1)</sup> <br>| 75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Parexel International, Inc. Tranche B (1 month Term <br> SOFR + 2.500%) <br>6.663%, 11/15/28<sup>(1)</sup> <br>| 139 | &nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Phoenix Guarantor, Inc. Tranche B-5 (1 month Term <br> SOFR + 2.500%) <br>6.663%, 2/21/31<sup>(1)</sup> <br>| 218 | &nbsp;&nbsp; 218 |
| &nbsp;&nbsp;&nbsp; PointClickCare Technologies 2025, Tranche B, First Lien <br> (3 month Term SOFR + 2.750%) <br>6.752%, 11/3/31<sup>(1)</sup> <br>| 25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Select Medical Corp. Tranche B-2 (1 month Term SOFR + <br> 2.000%) <br>6.163%, 12/3/31<sup>(1)</sup> <br>| 50 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;&nbsp; Southern Veterinary Partners LLC 2025 (3 month Term <br> SOFR + 2.500%) <br>6.819%, 12/4/31<sup>(1)</sup> <br>| 60 | &nbsp;&nbsp; 60 |
| &nbsp;&nbsp;&nbsp; Upstream Newco, Inc. 2021 (3 month Term SOFR + <br> 4.512%) <br>8.820%, 11/20/26<sup>(1)</sup> <br>| 56 | &nbsp;&nbsp; 48 |
|  |  | &nbsp;&nbsp; 1282 |
| **Housing—3.2%** | **Housing—3.2%** |  |
| &nbsp;&nbsp;&nbsp; Frontdoor, Inc. 2024, Tranche B (1 month Term SOFR + <br> 2.250%) <br>6.413%, 12/17/31<sup>(1)</sup> <br>| 139 | &nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc. Tranche B-1 (1 month Term SOFR <br> + 2.250%) <br>6.413%, 4/14/31<sup>(1)</sup> <br>| 356 | &nbsp;&nbsp; 356 |
|  |  | &nbsp;&nbsp; 495 |
| **Information Technology—5.8%** | **Information Technology—5.8%** |  |
| &nbsp;&nbsp;&nbsp; Applied Systems, Inc. 2024, Second Lien (3 month Term <br> SOFR + 4.500%) <br>8.502%, 2/23/32<sup>(1)</sup> <br>| 10 | &nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. Tranche B-2 (3 month Term <br> SOFR + 3.250%) <br>7.252%, 3/21/31<sup>(1)</sup> <br>| 70 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; ConnectWise LLC (3 month Term SOFR + 3.762%) <br>7.763%, 9/29/28<sup>(1)</sup> <br>| 52 | &nbsp;&nbsp; 52 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services Holdings II LLC 2025 (1 month <br> Term SOFR + 2.500%) <br>6.663%, 1/30/32<sup>(1)</sup> <br>| 139 | &nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; Indicor LLC Tranche D (3 month Term SOFR + 2.750%) <br>6.752%, 11/22/29<sup>(1)</sup> <br>| 30 | &nbsp;&nbsp; 30 |

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet Floating Rate MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Information Technology—continued** | **Information Technology—continued** |  |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management LLC Tranche B <br> (1 month Term SOFR + 2.000%) <br>6.163%, 1/31/31<sup>(1)</sup> <br>| $31 | &nbsp;&nbsp; $31 |
| &nbsp;&nbsp;&nbsp; NCR Atleos LLC Tranche B (1 month Term SOFR + <br> 3.000%) <br>7.026%, 4/16/29<sup>(1)</sup> <br>| 26 | &nbsp;&nbsp; 26 |
| &nbsp;&nbsp;&nbsp; Proofpoint, Inc. 2024 (1 month Term SOFR + 3.000%) <br>7.163%, 8/31/28<sup>(1)</sup> <br>| 72 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; UKG, Inc. Tranche B (3 month Term SOFR + 3.000%) <br>7.320%, 2/10/31<sup>(1)</sup> <br>| 347 | &nbsp;&nbsp; 347 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp. Tranche B-4 (1 month Term SOFR + <br> 1.750%) <br>6.030%, 8/12/32<sup>(1)</sup> <br>| 125 | &nbsp;&nbsp; 125 |
|  |  | &nbsp;&nbsp; 901 |
| **Manufacturing—8.2%** | **Manufacturing—8.2%** |  |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Systems LLC Tranche B (1 month Term <br> SOFR + 2.250%) <br>6.385%, 8/19/31<sup>(1)</sup> <br>| 131 | &nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc. (1 month Term SOFR + <br> 2.500%) <br>6.663%, 11/3/31<sup>(1)</sup> <br>| 288 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp; Dynamo U.S. Bidco, Inc. Tranche B (1 month Term SOFR <br> + 3.500%) <br>7.780%, 10/1/31<sup>(1)</sup> <br>| 20 | &nbsp;&nbsp; 20 |
| &nbsp;&nbsp;&nbsp; Gates Corp. Tranche B-5 (1 month Term SOFR + 1.750%) <br>5.913%, 6/4/31<sup>(1)</sup> <br>| 213 | &nbsp;&nbsp; 212 |
| &nbsp;&nbsp;&nbsp; LSF12 Crown U.S. Commercial Bidco LLC 2025 (1 month <br> Term SOFR + 3.500%) <br>7.663%, 12/2/31<sup>(1)</sup> <br>| 199 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC (6 month Term SOFR + 2.500%) <br>6.702%, 6/21/28<sup>(1)</sup> <br>| 189 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp; MV Holding GmbH Tranche B (1 month Term SOFR + <br> 2.250%) <br>6.413%, 3/17/32<sup>(1)</sup> <br>| 115 | &nbsp;&nbsp; 115 |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH Tranche B (6 month Term SOFR <br> + 3.000%) <br>7.197%, 4/30/30<sup>(1)</sup> <br>| 119 | &nbsp;&nbsp; 120 |
|  |  | &nbsp;&nbsp; 1275 |
| **Media / Telecom - Broadcasting—3.3%** | **Media / Telecom - Broadcasting—3.3%** |  |
| &nbsp;&nbsp;&nbsp; CMG Media Corp. (3 month Term SOFR + 3.600%) <br>7.602%, 6/18/29<sup>(1)</sup> <br>| 162 | &nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC Tranche B (1 month Term SOFR + <br> 3.000%) <br>7.163%, 3/24/32<sup>(1)</sup> <br>| 25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc. Tranche D (1 month Term SOFR + <br> 3.000%) <br>7.395%, 12/1/28<sup>(1)</sup> <br>| 109 | &nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp; Nexstar Media, Inc. Tranche B-5 (1 month Term SOFR + <br> 2.500%) <br>6.663%, 6/28/32<sup>(1)</sup> <br>| 130 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. 2024, First Lien (1 <br> month Term SOFR + 3.614%) <br>7.778%, 1/31/29<sup>(1)</sup> <br>| 101 | &nbsp;&nbsp; 101 |
|  |  | &nbsp;&nbsp; 519 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Media / Telecom - Cable/Wireless Video—9.2%** | **Media / Telecom - Cable/Wireless Video—9.2%** |  |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC Tranche B-5 (3 <br> month Term SOFR + 2.250%) <br>6.541%, 12/15/31<sup>(1)</sup> <br>| $377 | &nbsp;&nbsp; $377 |
| &nbsp;&nbsp;&nbsp; Cogeco Communications Finance USA LP Tranche B-1 (1 <br> month Term SOFR + 3.250%) <br>7.413%, 9/18/30<sup>(1)</sup> <br>| 253 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC 2022 (1 month Term SOFR + 4.500%) <br>8.650%, 1/18/28<sup>(1)</sup> <br>| 174 | &nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; DIRECTV Financing LLC 2024, Tranche B (3 month Term <br> SOFR + 5.512%) <br>9.820%, 8/2/29<sup>(1)</sup> <br>| 241 | &nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp; Eagle Broadband Investments LLC (3 month Term SOFR <br> + 3.262%) <br>7.263%, 11/12/27<sup>(1)</sup> <br>| 313 | &nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC Tranche N (1 month Term SOFR <br> + 2.614%) <br>6.765%, 1/31/28<sup>(1)</sup> <br>| 77 | &nbsp;&nbsp; 77 |
|  |  | &nbsp;&nbsp; 1430 |
| **Media / Telecom - Diversified Media—1.5%** | **Media / Telecom - Diversified Media—1.5%** |  |
| &nbsp;&nbsp;&nbsp; Century DE Buyer LLC 2025 (1 month Term SOFR + <br> 3.000%) <br>7.301%, 10/30/30<sup>(1)</sup> <br>| 202 | &nbsp;&nbsp; 202 |
| &nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc. 2025, Tranche B (1 month <br> Term SOFR + 2.750%) <br>6.913%, 8/6/31<sup>(1)</sup> <br>| 36 | &nbsp;&nbsp; 36 |
|  |  | &nbsp;&nbsp; 238 |
| **Media / Telecom - Telecommunications—2.4%** | **Media / Telecom - Telecommunications—2.4%** |  |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. Tranche B-4 (1 month Term SOFR <br> + 3.250%) <br>7.416%, 3/29/32<sup>(1)</sup> <br>| 125 | &nbsp;&nbsp; 125 |
| Numericable U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp; Tranche B-11 (3 month PRIME + 1.750%) <br>9.000%, 9/30/25<sup>(4)</sup> <br>| 248 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; Tranche B-12 (3 month PRIME + 2.688%) <br>9.938%, 1/31/26<sup>(4)</sup> <br>| 15 | &nbsp;&nbsp; 14 |
|  |  | &nbsp;&nbsp; 365 |
| **Media / Telecom - Wireless Communications—1.8%** | **Media / Telecom - Wireless Communications—1.8%** |  |
| &nbsp;&nbsp;&nbsp; Cincinnati Bell, Inc. Tranche B-5 (1 month Term SOFR + <br> 2.250%) <br>6.413%, 11/22/28<sup>(1)</sup> <br>| 286 | &nbsp;&nbsp; 287 |
| **Metals / Minerals—0.5%** | **Metals / Minerals—0.5%** |  |
| &nbsp;&nbsp;&nbsp; Arsenal AIC Parent LLC 2025, Tranche B (1 month Term <br> SOFR + 2.750%) <br>6.913%, 8/18/30<sup>(1)</sup> <br>| 72 | &nbsp;&nbsp; 72 |
| **Retail—2.9%** | **Retail—2.9%** |  |
| &nbsp;&nbsp;&nbsp; CNT Holdings I Corp. 2025 (3 month Term SOFR + <br> 2.250%) <br>6.558%, 11/8/32<sup>(1)</sup> <br>| 151 | &nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Harbor Freight Tools USA, Inc. (1 month Term SOFR + <br> 2.250%) <br>6.413%, 6/11/31<sup>(1)</sup> <br>| 127 | &nbsp;&nbsp; 125 |
| &nbsp;&nbsp;&nbsp; Peer Holding III B.V. Tranche B (3 month Term SOFR + <br> 2.500%) <br>6.502%, 10/26/30<sup>(1)</sup> <br>| 133 | &nbsp;&nbsp; 133 |

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet Floating Rate MACS**

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

**September 30, 2025**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Retail—continued** | **Retail—continued** |  |
| &nbsp;&nbsp;&nbsp; Skechers U.S.A., Inc. Tranche B-1 (3 month Term SOFR + <br> 3.250%) <br>7.308%, 9/12/32<sup>(1)</sup> <br>| $39 | &nbsp;&nbsp; $39 |
|  |  | &nbsp;&nbsp; 448 |
| **Service—6.2%** | **Service—6.2%** |  |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP 2025 (1 month Term SOFR + 2.000%) <br>6.163%, 8/12/32<sup>(1)</sup> <br>| 75 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Amentum Holdings LLC (1 month Term SOFR + 2.250%) <br>6.413%, 9/29/31<sup>(1)</sup> <br>| 43 | &nbsp;&nbsp; 43 |
| &nbsp;&nbsp;&nbsp; BrightView Landscapes LLC Tranche B (3 month Term <br> SOFR + 2.000%) <br>6.308%, 4/20/29<sup>(1)</sup> <br>| 266 | &nbsp;&nbsp; 265 |
| &nbsp;&nbsp;&nbsp; DG Investment Intermediate Holdings 2, Inc. (1 month <br> Term SOFR + 3.750%) <br>7.913%, 7/9/32<sup>(1)</sup> <br>| 153 | &nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp; Fugue Finance B.V. (3 month Term SOFR + 2.750%) <br>6.949%, 1/9/32<sup>(1)</sup> <br>| 5 | &nbsp;&nbsp; 5 |
| &nbsp;&nbsp;&nbsp; Green Infrastructure Partners, Inc. (3 month Term SOFR <br> + 2.750%) <br>6.753%, 9/24/32<sup>(1)</sup> <br>| 25 | &nbsp;&nbsp; 25 |
| &nbsp;&nbsp;&nbsp; Kuehg Corp. (3 month Term SOFR + 2.750%) <br>6.752%, 6/12/30<sup>(1)</sup> <br>| 65 | &nbsp;&nbsp; 64 |
| &nbsp;&nbsp;&nbsp; NAB Holdings LLC 2025 (3 month Term SOFR + 2.500%) <br>6.502%, 11/24/28<sup>(1)</sup> <br>| 162 | &nbsp;&nbsp; 156 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC Tranche B-1 (6 <br> month Term SOFR + 2.000%) <br>6.129%, 10/13/30<sup>(1)</sup> <br>| 138 | &nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; TMF Sapphire Bidco B.V. Tranche B-4 (3 month Term <br> SOFR + 2.750%) <br>7.029%, 5/3/28<sup>(1)</sup> <br>| 39 | &nbsp;&nbsp; 39 |
|  |  | &nbsp;&nbsp; 963 |
| **Transportation - Automotive—3.4%** | **Transportation - Automotive—3.4%** |  |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. Tranche C <br>0.000%, 2/24/32<sup>(1)(2)</sup> <br>| 40 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Belron Finance 2019 LLC 2031 (3 month Term SOFR + <br> 2.500%) <br>6.742%, 10/16/31<sup>(1)</sup> <br>| 198 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP 2024, Tranche B (1 month Term SOFR + <br> 2.500%) <br>6.663%, 5/6/30<sup>(1)</sup> <br>| 192 | &nbsp;&nbsp; 192 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc. Tranche B-2 (1 month Term SOFR + <br> 2.500%) <br>6.663%, 1/30/31<sup>(1)</sup> <br>| 102 | &nbsp;&nbsp; 102 |
|  |  | &nbsp;&nbsp; 532 |
| **Utilities—5.2%** | **Utilities—5.2%** |  |
| &nbsp;&nbsp;&nbsp; Astoria Energy LLC Tranche B <br>0.000%, 6/23/32<sup>(1)(2)</sup> <br>| 94 | &nbsp;&nbsp; 95 |
| &nbsp;&nbsp;&nbsp; Calpine Corp. Tranche B-10 (1 month Term SOFR + <br> 1.750%) <br>5.913%, 1/31/31<sup>(1)</sup> <br>| 162 | &nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; Cornerstone Generation LLC Tranche B (3 month Term <br> SOFR + 3.250%) <br>7.476%, 8/11/32<sup>(1)</sup> <br>| 165 | &nbsp;&nbsp; 166 |
| &nbsp;&nbsp;&nbsp; Hamilton Projects Acquiror LLC (1 month Term SOFR + <br> 2.500%) <br>6.663%, 5/30/31<sup>(1)</sup> <br>| 19 | &nbsp;&nbsp; 18 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Utilities—continued** | **Utilities—continued** |  |
| &nbsp;&nbsp;&nbsp; Lightning Power LLC Tranche B (3 month Term SOFR + <br> 2.250%) <br>6.252%, 8/18/31<sup>(1)</sup> <br>| $104 | &nbsp;&nbsp; $104 |
| &nbsp;&nbsp;&nbsp; WEC U.S. Holdings Ltd. (1 month Term SOFR + 2.250%) <br>6.530%, 1/27/31<sup>(1)</sup> <br>| 262 | &nbsp;&nbsp; 262 |
|  |  | &nbsp;&nbsp; 807 |
| **Total Leveraged Loans** <br>**(Identified Cost $15,339)** | **Total Leveraged Loans** <br>**(Identified Cost $15,339)** | &nbsp;&nbsp; **14893** |

---

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

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **Exchange-Traded Fund—3.2%** | **Exchange-Traded Fund—3.2%** | **Exchange-Traded Fund—3.2%** |
| Invesco Senior Loan ETF<sup>(5)</sup> <br>| 23335 | &nbsp;&nbsp; 489 |
| **Total Exchange-Traded Fund** <br>**(Identified Cost $487)** | **Total Exchange-Traded Fund** <br>**(Identified Cost $487)** | &nbsp;&nbsp; **489** |
| **Total Long-Term Investments—99.2%** <br>**(Identified Cost $15,826)** | **Total Long-Term Investments—99.2%** <br>**(Identified Cost $15,826)** | &nbsp;&nbsp; **15382** |
| **TOTAL INVESTMENTS—99.2%** <br>**(Identified Cost $15,826)** | **TOTAL INVESTMENTS—99.2%** <br>**(Identified Cost $15,826)** | &nbsp;&nbsp; **$15382** |
| Other assets and liabilities, net—0.8% | Other assets and liabilities, net—0.8% | &nbsp;&nbsp; 131 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp; **$15513** |

---

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

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ETF | Exchange-Traded Fund |
| LLC | Limited Liability Company |
| LLP | Limited Liability Partnership |
| LP | Limited Partnership |
| plc | Public Limited Company |
| S.a.r.l. | Société à responsabilité limitée |
| SOFR | Secured Overnight Financing Rate |

---

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

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Variable rate security. Rate disclosed is as of September 30, 2025. Information in <br> parenthesis represents benchmark and reference rate for each security. Certain <br> variable rate securities are not based on a published reference rate and spread but <br> are determined by the issuer or agent and are based on current market conditions, <br> or, for mortgage-backed securities, are impacted by the individual mortgages <br> which are paying off over time. These securities do not indicate a reference rate <br> and spread in their descriptions.<br>|
| <sup>(2)</sup> <br>| This loan will settle after September 30, 2025, at which time the interest rate, <br> calculated on the base lending rate and the agreed upon spread on trade date, will <br> be reflected.<br>|
| <sup>(3)</sup> <br>| The value of this security was determined using significant unobservable inputs <br> and is reported as a Level 3 security in the Fair Value Hierarchy table located after <br> the Schedule of Investments.<br>|
| <sup>(4)</sup> <br>| Security in default; interest payments are being received. |
| <sup>(5)</sup> <br>| Shares of this fund are publicly offered, and its prospectus and annual report are <br> publicly available.<br>|

---

See Notes to Schedule of Investments

------

**VIRTUS Newfleet Floating Rate MACS**

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

**September 30, 2025**

($ reported in thousands)

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

---

| | |
|:---|:---|
| **Country Weightings**<sup>†</sup>  | **Country Weightings**<sup>†</sup>  |
| United States | 91<br> %<br>|
| Netherlands | 3 |
| Canada | 2 |
| France | 2 |
| Australia | 1 |
| Gibraltar | 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. |

---

As of September 30, 2025, the Fund had the following unfunded loan commitments:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower** | **Par Value** | **Commitment** | **Value** |
| Kaman Corp., 2/26/32 | &nbsp;&nbsp; $8 | &nbsp;&nbsp; $8 | &nbsp;&nbsp; $8<br>&nbsp;&nbsp; $— <br><sup>(1)</sup><br>|

---

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

<sup>(1)</sup> Amount is less than $500 (not in thousands).

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Total <br>Value at <br>September 30, 2025<br>| Level 1 <br>Quoted Prices<br>| Level 2 <br>Significant <br>Observable <br>Inputs<br>| Level 3 <br>Significant <br>Unobservable <br>Inputs<br>|
| Assets: |  |  |  |  |
| Debt Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Leveraged Loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $10 |
| Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Loan Commitment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $15382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $10 |

---

Securities held by the Fund with an end of period value of $5 were transferred from Level 2 to Level 3 due to a decrease in trading activities at period end.

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

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

See Notes to Schedule of Investments

------

**VIRTUS NEWFLEET FLOATING RATE MACS**

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

**September 30, 2025**

**(Unaudited)**

**Note 1. Security Valuation**

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

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

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

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

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

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

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

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

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

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

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

securities.

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Greenfield

  - **State:** MA

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Virtus Newfleet Floating Rate MACS

- **b. EDGAR series identifier (if any):** S000086624

- **c. LEI of Series:** 254900KZEW1HA1768U33

**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:** $15961741.66

**Total Liabilities:** $588250.01

**Net Assets:** $15373491.65

**Cash Not Reported:** $399711.28

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -308.12717960 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** -24.52145962 | **5-Year:** -1682.94913900 | **10-Year:** -2771.15202400 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000252212 | -0.30%               | 0.50%                | 0.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5308.18                 | $-170934.64                                |
| Month 2  | $-17045.88               | $-12856.37                                 |
| Month 3  | $-56336.64               | $-22589.33                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WAND NEWCO 3 INC                    | WAND NEWCO 3 INC                          | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    102221 | PA      | $101818.25    | 0.66%             | 2031-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES LP               | CITADEL SECURITIES LP                     | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    171115 | PA      | $171393.74    | 1.11%             | 2031-10-31      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL CORP                 | SELECT MEDICAL CORP                       | CUSIP: 816194AY0<br>LEI: 549300X05KS0JKR8CB50 | Long             | LON              | CORP              | US        |     49625 | PA      | $49656.26     | 0.32%             | 2031-12-03      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                   | CLARIOS GLOBAL LP                         | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    192495 | PA      | $192314.41    | 1.25%             | 2030-05-06      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| RED SPV LLC                         | RED SPV LLC                               | CUSIP: 75701MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99750 | PA      | $99521.57     | 0.65%             | 2032-03-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| GREEN INFRASTRUCTURE                | GREEN INFRASTRUCTURE PARTNERS INC         | CUSIP: 000000000<br>LEI: 549300W1V7LSCKWMX505 | Long             | LON              | CORP              | CA        |     25000 | PA      | $25000.00     | 0.16%             | 2032-09-20      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF             | Invesco Senior Loan ETF                   | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |     23335 | NS      | $488401.55    | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DG INVESTMENT INTERMEDI             | DG INVESTMENT INTERMEDI                   | CUSIP: 23344MAM0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    152996 | PA      | $153187.44    | 1.00%             | 2032-07-12      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| GENESYS CLOUD SERVICES              | GENESYS CLOUD SERVICES                    | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |    139300 | PA      | $138284.50    | 0.90%             | 2032-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                | LIFEPOINT HEALTH INC                      | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     64425 | PA      | $64257.86     | 0.42%             | 2031-05-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC               | LEVEL 3 FINANCING INC                     | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    125000 | PA      | $125000.00    | 0.81%             | 2032-03-29      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| FRONERI US INC                      | FRONERI US INC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    328350 | PA      | $325683.83    | 2.12%             | 2031-09-30      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| HARBOR FREIGHT TOOLS                | HARBOR FREIGHT TOOLS USA INC              | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |    127481 | PA      | $125090.89    | 0.81%             | 2031-06-11      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| SKYMILES IP LTD                     | SkyMiles IP Ltd                           | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |     64851 | PA      | $64859.68     | 0.42%             | 2027-10-20      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| ORYX MIDSTREAM SERVICES             | ORYX MIDSTREAM SERVICES PERMIAN BASIN LLC | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |     67553 | PA      | $67514.81     | 0.44%             | 2028-10-05      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                | LIFEPOINT HEALTH INC                      | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    119063 | PA      | $118430.79    | 0.77%             | 2031-05-19      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| FREEPORT LNG INVESTMENTS            | FREEPORT LNG INVESTMENTS LLLP             | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    145490 | PA      | $145360.78    | 0.95%             | 2028-12-21      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC               | QUIKRETE HOLDINGS INC                     | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    356402 | PA      | $356199.11    | 2.32%             | 2031-04-14      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| WEC US HOLDINGS INC                 | WEC US HOLDINGS INC                       | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |    261681 | PA      | $261752.14    | 1.70%             | 2031-01-27      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| BROWN GROUP HOLDING LLC             | BROWN GROUP HOLDING LLC                   | CUSIP: 11565HAB2<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    174123 | PA      | $174195.93    | 1.13%             | 2031-07-01      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP LTD                  | ARDONAGH GROUP FINCO PTY LTD              | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    174125 | PA      | $173109.85    | 1.13%             | 2031-02-18      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| CENTURY DE BUYER LLC                | CENTURY DE BUYER LLC                      | CUSIP: 15651FAE6<br>LEI: 254900PQRPPYRTQIDX74 | Long             | LON              | CORP              | US        |    201965 | PA      | $202027.71    | 1.31%             | 2030-10-30      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| ENTAIN HOLDINGS GIBRALTA            | ENTAIN HOLDINGS GIBRALTA                  | CUSIP: 000000000<br>LEI: 213800ATWJIEYQ8NF838 | Long             | LON              | CORP              | GI        |     94050 | PA      | $93938.08     | 0.61%             | 2029-10-31      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| GRIFOLS WORLDWIDE OPERAT            | Grifols Worldwide Operations USA Inc      | CUSIP: 39843PAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     80000 | PA      | $79720.00     | 0.52%             | 2027-11-15      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| AGGREKO HOLDINGS INC                | AGGREKO HOLDINGS INC                      | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |     39502 | PA      | $39576.25     | 0.26%             | 2031-05-01      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| FinCo I LLC                         | FINCO 06/27/29                            | CUSIP: 31774BAH7<br>LEI: 5493001RSEZ0X6VJMC68 | Long             | LON              | CORP              | US        |     79800 | PA      | $79551.02     | 0.52%             | 2029-06-27      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| PRIME SECURITY SERVICES BOR         | PRIME SECURITY SERVICES BOR               | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    137932 | PA      | $137509.77    | 0.89%             | 2030-10-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC              | ARSENAL AIC PARENT LLC                    | CUSIP: 04287KAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    122950 | PA      | $122758.60    | 0.80%             | 2030-08-19      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                     | GOAT HOLDCO LLC                           | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    104475 | PA      | $104531.42    | 0.68%             | 2032-01-27      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| UFC HOLDINGS LLC                    | UFC HOLDINGS LLC                          | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    173690 | PA      | $173879.01    | 1.13%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| DEL MONTE FOODS CORP II             | DEL MONTE FOODS CORP II INC               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59711 | PA      | $47768.74     | 0.31%             | 2026-04-02      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| EPIC CRUDE SERVICES LP              | EPIC CRUDE SERVICES LP                    | CUSIP: 29428XAJ9<br>LEI: 549300FRS682IQ7J9S42 | Long             | LON              | CORP              | US        |    134971 | PA      | $134970.84    | 0.88%             | 2031-10-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC               | CAESARS ENTERTAIN INC                     | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     97800 | PA      | $97468.46     | 0.63%             | 2030-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC                        | COTIVITI INC                              | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |     64028 | PA      | $62827.71     | 0.41%             | 2031-05-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| GIP PILOT ACQUISITION PA            | GIP PILOT ACQUISITION PA                  | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |     57966 | PA      | $57838.99     | 0.38%             | 2030-10-04      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| COGECO COMMUNICATIONS US            | COGECO COMMUNICATIONS USA II LP           | CUSIP: 19239BAD0<br>LEI: 549300UVJTPYOZ6XKH79 | Long             | LON              | CORP              | US        |    253420 | PA      | $252819.64    | 1.64%             | 2030-09-30      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| INEOS US FINANCE LLC                | INEOS US FINANCE LLC                      | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |    275430 | PA      | $248575.12    | 1.62%             | 2030-02-19      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| PHOENIX GUARANTOR INC               | PHOENIX GUARANTOR INC                     | CUSIP: 71913BAK8<br>LEI: 254900JIOIDL3GSUFE55 | Long             | LON              | CORP              | US        |    218160 | PA      | $218179.71    | 1.42%             | 2031-02-21      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                   | IRON MOUNTAIN INC                         | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |     31246 | PA      | $31237.69     | 0.20%             | 2031-01-31      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| PRIMO BRANDS CORP                   | PRIMO BRANDS CORP                         | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    236335 | PA      | $236207.55    | 1.54%             | 2028-03-31      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| ALIXPARTNERS LLP                    | ALIXPARTNERS LLP                          | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |     75000 | PA      | $74458.50     | 0.48%             | 2032-08-12      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| TRAVERSE MIDSTREAM PARTN            | TRAVERSE MIDSTREAM PARTN                  | CUSIP: 000000000<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |     62691 | PA      | $62730.46     | 0.41%             | 2028-02-16      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| EAGLE BROADBAND INVEST              | Eagle Broadband Investments LLC           | CUSIP: 26943PAB5<br>LEI: 254900W09ZHD1OM4I757 | Long             | LON              | CORP              | US        |    312580 | PA      | $309651.46    | 2.01%             | 2027-11-12      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR OPERATING CO               | ENDEAVOR OPERATING CO LLC                 | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     24938 | PA      | $24925.03     | 0.16%             | 2032-03-24      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC               | DIRECTV FINANCING LLC                     | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    241027 | PA      | $241203.09    | 1.57%             | 2029-08-02      | Floating      | 9.83%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc | CLYDESDALE ACQUISITION                    | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     90000 | PA      | $89847.90     | 0.58%             | 2029-04-13      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| PEER HOLDING III BV                 | PEER HOLDING III BV                       | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    133312 | PA      | $133345.83    | 0.87%             | 2030-10-28      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA BRISTOL LLC            | Virgin Media Bristol LLC                  | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |     77451 | PA      | $77332.97     | 0.50%             | 2028-01-31      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| FINANCIERE MENDEL SASU              | FINANCIERE MENDEL SASU                    | CUSIP: 000000000<br>LEI: 969500FG3VYTO80D0A13 | Long             | LON              | CORP              | FR        |     24812 | PA      | $24822.92     | 0.16%             | 2030-11-13      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| KESTREL ACQUISITION LLC             | KESTREL ACQUISITION LLC                   | CUSIP: 44579UAB8<br>LEI: 549300ER0JUHJLPPMH08 | Long             | LON              | CORP              | US        |     88343 | PA      | $88435.06     | 0.58%             | 2031-11-06      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC                        | ACRISURE LLC                              | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |    321943 | PA      | $321038.30    | 2.09%             | 2030-11-06      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| WHITEWATER DBR HOLDCO LL            | WHITEWATER DBR HOLDCO LL                  | CUSIP: 96616PAD0<br>LEI: 21380025GXMNBTSJP816 | Long             | LON              | CORP              | US        |    108902 | PA      | $108970.65    | 0.71%             | 2031-03-03      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| AL GCX FUND                         | AL GCX FUND VIII HOLDINGS LLC             | CUSIP: 00162AAB7<br>LEI: 254900KQJGH397AKYT16 | Long             | LON              | CORP              | US        |    138947 | PA      | $138513.73    | 0.90%             | 2032-01-30      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                       | TRANSDIGM INC                             | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     29575 | PA      | $29555.65     | 0.19%             | 2031-02-28      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                     | RAND PARENT LLC                           | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     44887 | PA      | $44654.43     | 0.29%             | 2030-03-18      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| MX HOLDINGS US INC                  | MX HOLDINGS US INC                        | CUSIP: 55404TAF9<br>LEI: 549300RKTIVJWNROR778 | Long             | LON              | CORP              | US        |    114712 | PA      | $114712.50    | 0.75%             | 2032-03-17      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO             | BEACH ACQUISITION BIDCO                   | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |     39000 | PA      | $39162.63     | 0.25%             | 2032-09-13      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION               | CMG MEDIA CORP                            | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    161801 | PA      | $154408.16    | 1.00%             | 2029-06-18      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| BRIGHTVIEW LANDSCAPES               | BRIGHTVIEW LANDSCAPES                     | CUSIP: 10801XAL1<br>LEI: 549300OSAEQC89PVOW06 | Long             | LON              | CORP              | US        |    266448 | PA      | $265366.58    | 1.73%             | 2029-04-20      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| KAMAN CORP                          | KAMAN CORP                                | CUSIP: 48354VAN2<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |      9029 | PA      | $8994.42      | 0.06%             | 2032-02-26      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                | GATES CORPORATION                         | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |    212850 | PA      | $212460.48    | 1.38%             | 2031-06-04      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Cornerstone Generation LLC          | CORNERSTONE GENERATION L                  | CUSIP: 21924NAB4<br>LEI: 254900JBGAU2N55LVN75 | Long             | LON              | CORP              | US        |    165000 | PA      | $166031.25    | 1.08%             | 2031-10-28      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                 | APPLIED SYSTEMS INC                       | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |     10000 | PA      | $10214.60     | 0.07%             | 2032-02-23      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| BELRON FINANCE 2019 LLC             | BELRON FINANCE 2019 LLC                   | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    197570 | PA      | $198434.89    | 1.29%             | 2031-10-16      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| TMF SAPPHIRE BIDCO BV               | TMF SAPPHIRE BIDCO BV                     | CUSIP: 000000000<br>LEI: 213800H27OKZZZ2CB779 | Long             | LON              | CORP              | NL        |     39304 | PA      | $39238.36     | 0.26%             | 2028-05-03      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| NorthAB LLC                         | NORTHAB LLC                               | CUSIP: 66345FAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    161553 | PA      | $155865.00    | 1.01%             | 2028-11-24      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                       | LIFE TIME INC                             | CUSIP: 50218KAN8<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    149250 | PA      | $149000.75    | 0.97%             | 2031-11-05      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| TRUIST INSURANCE HOLDING            | TRUIST INSURANCE HOLDING                  | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     15000 | PA      | $14976.60     | 0.10%             | 2031-05-06      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| GAINWELL ACQUISITION COR            | Gainwell Acquisition Corp                 | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     49869 | PA      | $49008.87     | 0.32%             | 2027-10-01      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                    | Altice France SA/France                   | CUSIP: 67053NAK0<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |    248169 | PA      | $226454.08    | 1.47%             | 2025-07-31      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| DEL MONTE FOODS CORP II             | DEL MONTE FOODS CORP II                   | CUSIP: 24521WAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    131722 | PA      | $5268.89      | 0.03%             | 2028-08-02      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| NEXSTAR MEDIA INC                   | NEXSTAR MEDIA INC                         | CUSIP: 65336RBB3<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    129675 | PA      | $129466.22    | 0.84%             | 2032-06-28      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP               | Playtika Holding Corp                     | CUSIP: 72814CAF5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | LON              | CORP              | US        |     79791 | PA      | $78479.36     | 0.51%             | 2028-03-13      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP                 | CNT HOLDINGS I CORP                       | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    151020 | PA      | $150888.39    | 0.98%             | 2032-11-08      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| OPAL LLC                            | OPAL US LLC                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     75000 | PA      | $75150.00     | 0.49%             | 2032-04-23      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                  | NOURYON FINANCE BV                        | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |     76842 | PA      | $76890.34     | 0.50%             | 2028-04-03      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC                         | CHOBANI LLC                               | CUSIP: 17026YAK5<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |     78606 | PA      | $78786.01     | 0.51%             | 2027-10-25      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC            | WINDSOR HOLDINGS III LLC                  | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |    104475 | PA      | $104475.00    | 0.68%             | 2030-08-01      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                     | MADISON IAQ LLC                           | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    189016 | PA      | $189047.67    | 1.23%             | 2028-06-21      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| ECL ENTERTAINMENT LLC               | ECL ENTERTAINMENT LLC                     | CUSIP: 000000000<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |     83828 | PA      | $83681.54     | 0.54%             | 2030-08-30      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| LSF12 CROWN US COMMERCIA            | LSF12 CROWN US COMMERCIAL BIDCO LLC       | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    200000 | PA      | $200126.00    | 1.30%             | 2031-12-02      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                  | BAUSCH + LOMB CORP                        | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |     44100 | PA      | $44044.88     | 0.29%             | 2028-09-29      | Floating      | 8.27%                 | No            |                  2 | On Loan: No      |
| FUGUE FINANCE LLC                   | FUGUE FINANCE LLC                         | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | HK        |      4975 | PA      | $4982.14      | 0.03%             | 2032-01-09      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS            | UNIVISION COMMUNICATIONS INC              | CUSIP: 914908BG2<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    101743 | PA      | $101265.90    | 0.66%             | 2029-01-31      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| SAZERAC CO INC                      | SAZERAC CO INC                            | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |     10000 | PA      | $10055.60     | 0.07%             | 2032-07-09      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC             | AMERICAN AXLE & MFG INC                   | CUSIP: 02406MBB2<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | LON              | CORP              | US        |     40000 | PA      | $39750.00     | 0.26%             | 2032-09-20      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| AMAZON HOLDCO INC                   | AMAZON HOLDCO INC                         | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |     43398 | PA      | $43346.86     | 0.28%             | 2031-09-29      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                    | AMWINS GROUP INC                          | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    138950 | PA      | $138858.29    | 0.90%             | 2032-01-30      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CONNECTWISE LLC                     | ConnectWise LLC                           | CUSIP: 20786NAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     52260 | PA      | $52316.30     | 0.34%             | 2028-09-29      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| PHOENIX NEWCO INC                   | PHOENIX NEWCO INC                         | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    138950 | PA      | $139022.25    | 0.90%             | 2028-11-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| ALLIANCE LAUNDRY SYSTEMS            | ALLIANCE LAUNDRY SYSTEMS                  | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    130892 | PA      | $130712.25    | 0.85%             | 2031-08-19      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC              | ENERGIZER HOLDINGS INC                    | CUSIP: 29267YAW2<br>LEI: 5493000D6NN0V57UME20 | Long             | LON              | CORP              | US        |     79958 | PA      | $79923.99     | 0.52%             | 2032-03-19      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| POINTCLICKCARE TECHNOLOG            | POINTCLICKCARE TECHNOLOGIES INC           | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |     24875 | PA      | $24888.93     | 0.16%             | 2031-11-03      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPER         | CHARTER COMMUNICATIONS OPERATING LLC      | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    377150 | PA      | $376961.43    | 2.45%             | 2031-12-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| DEL MONTE FOODS CORP II             | DEL MONTE FOODS CORP II INC               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     68178 | PA      | $64996.03     | 0.42%             | 2026-04-02      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                    | Altice France SA/France                   | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |     14811 | PA      | $13625.72     | 0.09%             | 2026-02-02      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                      | NCR ATLEOS CORP                           | CUSIP: 63001PAG6<br>LEI: 9845005FC3S0VA714741 | Long             | LON              | CORP              | US        |     25480 | PA      | $25485.05     | 0.17%             | 2032-09-20      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC            | BROADSTREET PARTNERS INC                  | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |     39610 | PA      | $39641.76     | 0.26%             | 2031-06-16      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| UPSTREAM NEWCO INC                  | Upstream Newco Inc                        | CUSIP: 91678HAF9<br>LEI: 549300Q4K2W4R1EBTH48 | Long             | LON              | CORP              | US        |     56253 | PA      | $48131.87     | 0.31%             | 2026-11-20      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| DEL MONTE FOODS CORP II             | DEL MONTE FOODS CORP II INC               | CUSIP: 24521WAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     96013 | PA      | $45606.41     | 0.30%             | 2028-08-02      | Floating      | 12.45%                | No            |                  2 | On Loan: No      |
| LUMMUS TECHNOLOGY HOLDINGS          | LUMMUS TECHNOLOGY HOLDINGS                | CUSIP: 45232UAH1<br>LEI: 549300K1Y0YC1YC1H809 | Long             | LON              | CORP              | US        |    202050 | PA      | $202411.34    | 1.32%             | 2029-12-31      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| ASTORIA ENERGY LLC                  | ASTORIA ENERGY LLC                        | CUSIP: 04626LAJ8<br>LEI: 549300BXD26J7I0IPB62 | Long             | LON              | CORP              | US        |     94644 | PA      | $94815.28     | 0.62%             | 2032-06-23      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                 | LIGHTNING POWER LLC                       | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    104211 | PA      | $104067.75    | 0.68%             | 2031-08-18      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| HAMILTON PROJECTS ACQUIR            | HAMILTON PROJECTS ACQUIROR LLC            | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |     18680 | PA      | $18718.85     | 0.12%             | 2031-05-30      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| FLORA FOOD MANAG                    | FLORA FOOD MANAG                          | CUSIP: 000000000<br>LEI: 254900U4MHW4MZWGFU47 | Long             | LON              | CORP              | US        |     98560 | PA      | $94716.29     | 0.62%             | 2028-01-03      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                      | PROOFPOINT INC                            | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     72291 | PA      | $72480.02     | 0.47%             | 2028-08-31      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| LANNETT CO INC                      | LANNETT CO INC                            | CUSIP: 000000000<br>LEI: 5299001DJ6C90XX17G45 | Long             | LON              | CORP              | US        |      6397 | PA      | $4900.44      | 0.03%             | 2030-06-16      | Variable      | 0.01%                 | No            |                  3 | On Loan: No      |
| CALPINE CORP                        | CALPINE CORP                              | CUSIP: 13134MBW2<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | LON              | CORP              | US        |    162000 | PA      | $161808.84    | 1.05%             | 2031-01-31      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| UKG INC                             | UKG INC                                   | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    347280 | PA      | $346832.27    | 2.26%             | 2031-02-10      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                 | MEDLINE BORROWER LP                       | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    219110 | PA      | $218974.29    | 1.42%             | 2030-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| CONSTRUCTION PARTNERS IN            | CONSTRUCTION PARTNERS INC                 | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    287825 | PA      | $288455.34    | 1.88%             | 2031-11-03      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                | FLUTTER FINANCING BV                      | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    159600 | PA      | $159290.38    | 1.04%             | 2032-06-04      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| SOUTHERN VETERINARY PART            | SOUTHERN VETERINARY PARTNERS LLC          | CUSIP: 84410HAQ3<br>LEI: 549300DT78GYJYRK0R74 | Long             | LON              | CORP              | US        |     59700 | PA      | $59560.70     | 0.39%             | 2031-12-04      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP               | AADVANTAGE LOYALTY IP LTD                 | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     81712 | PA      | $81542.54     | 0.53%             | 2028-04-20      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| FRONTDOOR INC                       | FRONTDOOR INC                             | CUSIP: 35905CAK1<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | LON              | CORP              | US        |    138950 | PA      | $139297.38    | 0.91%             | 2031-12-19      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC            | TK ELEVATOR US NEWCO INC                  | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    119401 | PA      | $119661.04    | 0.78%             | 2030-04-30      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| KUEHG CORP                          | KUEHG CORP                                | CUSIP: 50118YAH2<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |     64515 | PA      | $64447.92     | 0.42%             | 2030-06-12      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                    | CSC Holdings LLC                          | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    173544 | PA      | $172316.67    | 1.12%             | 2028-01-18      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                 | RESIDEO FUNDING INC                       | CUSIP: 76090LAM6<br>LEI: 5493000IFJ6XJKH66598 | Long             | LON              | CORP              | US        |     40000 | PA      | $39975.20     | 0.26%             | 2032-08-13      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| ROPER INDUSTRIAL PRODUCT            | ROPER INDUSTRIAL PRODUCT                  | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |     29775 | PA      | $29800.01     | 0.19%             | 2029-11-23      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC              | CLOUD SOFTWARE GRP INC                    | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |     69650 | PA      | $69889.60     | 0.45%             | 2031-03-24      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| DYNAMO US BIDCO INC                 | DYNAMO US BIDCO INC                       | CUSIP: 26806DAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19800 | PA      | $19849.50     | 0.13%             | 2031-09-26      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| DEL MONTE FOODS CORP II             | DEL MONTE FOODS CORP II                   | CUSIP: 24521WAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    303287 | PA      | $3032.87      | 0.02%             | 2028-08-02      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| CVR CHC LP                          | CVR CHC LP                                | CUSIP: 12663SAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     32201 | PA      | $32200.96     | 0.21%             | 2027-12-30      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                       | TRANSDIGM INC                             | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    118000 | PA      | $117858.40    | 0.77%             | 2030-03-22      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                 | Gray Television Inc                       | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |    108961 | PA      | $108881.05    | 0.71%             | 2028-12-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION               | MCGRAW-HILL EDUCATION                     | CUSIP: 58063DAG8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |     36231 | PA      | $36220.05     | 0.24%             | 2031-08-06      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| KLOECKNER PENTAPLAST OF AME         | Kloeckner Pentaplast of America Inc       | CUSIP: 49865NAT7<br>LEI: 5299004QDA11QZOG5N31 | Long             | LON              | CORP              | US        |     98458 | PA      | $47321.67     | 0.31%             | 2026-02-09      | Floating      | 8.59%                 | No            |                  2 | On Loan: No      |
| KAMAN CORP                          | KAMAN CORP                                | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     95948 | PA      | $95579.84     | 0.62%             | 2032-02-26      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| CINCINNATI BELL INC                 | CINCINNATI BELL INC                       | CUSIP: 17187MAU4<br>LEI: 549300JYVZOCUJOHL272 | Long             | LON              | CORP              | US        |    286414 | PA      | $286732.03    | 1.87%             | 2028-11-24      | Floating      | 6.39%                 | 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