# EDGAR Filing Document

**Accession Number:** 0001589756
**File Stem:** 0000940400-26-010030
**Filing Date:** 2026-3
**Character Count:** 67300
**Document Hash:** 1af8f4a524b9b6016261113898295aa3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-010030.hdr.sgml**: 20260313

**ACCESSION NUMBER**: 0000940400-26-010030

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260313

**DATE AS OF CHANGE**: 20260313

**EFFECTIVENESS DATE**: 20260313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS ALTERNATIVE SOLUTIONS TRUST
- **CENTRAL INDEX KEY:** 0001589756

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22906
- **FILM NUMBER:** 26751400

**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
- **STREET 2:** 26TH FLOOR
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS ALTERNATIVE SOLUTIONS FUNDS
- **DATE OF NAME CHANGE:** 20140204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VIRTUS ALTERNATIVES TRUST I
- **DATE OF NAME CHANGE:** 20131022

## Series and Classes Contracts Data

### Virtus AlphaSimplex Global Alternatives Fund (Series ID: S000079777)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000241131 | Class C      | GAFCX           |
| C000241132 | Class I      | GAFYX           |
| C000241133 | Class R6     | GAFNX           |
| C000241134 | Class A      | GAFAX           |

### Virtus AlphaSimplex Managed Futures Strategy Fund (Series ID: S000079778)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000241135 | Class R6     | AMFNX           |
| C000241136 | Class A      | AMFAX           |
| C000241137 | Class C      | ASFCX           |
| C000241138 | Class I      | ASFYX           |

## Internal

<br> Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Virtus Alternative Solutions Trust and Shareholders of Virtus AlphaSimplex Global Alternatives Fund and Virtus AlphaSimplex Managed Futures Strategy Fund<br>In planning and performing our audits of the consolidated financial statements of Virtus AlphaSimplex Global Alternatives Fund and Virtus AlphaSimplex Managed Futures Strategy Fund (two of the funds constituting Virtus Alternative Solutions Trust, hereafter referred to as the "Funds"), as of and for the year ended December 31, 2025, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the consolidated financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.<br>The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the consolidated financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim consolidated financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2025.<br>This report is intended solely for the information and use of the Board of Trustees of Virtus Alternative Solutions Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> February 23, 2026<br>PricewaterhouseCoopers LLP, Two Commerce Square, Suite 1800, 2001 Market Street, Philadelphia, PA 19103-7042 T: (267) 330 3000, www.pwc.com/us<br>

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001589756

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000079778

**Series ID Record:2**
- **Series ID:** S000079777

**Class ID Record:1**
- **Class ID:** C000241136

**Class ID Record:2**
- **Class ID:** C000241135

**Class ID Record:3**
- **Class ID:** C000241137

**Class ID Record:4**
- **Class ID:** C000241138

**Class ID Record:5**
- **Class ID:** C000241134

**Class ID Record:6**
- **Class ID:** C000241131

**Class ID Record:7**
- **Class ID:** C000241132

**Class ID Record:8**
- **Class ID:** C000241133

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-12-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Virtus Alternative Solutions Trust

- **Item B.1.b - Investment Company Act file number:** 811-22906

- **Item B.1.c - CIK:** 0001589756

- **Item B.1.d - LEI:** 549300LL1U2Z63VKA167

- **Item B.2.a - Street 1:** 101 Munson Street

- **Item B.2.b - City:** Greenfield

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 01301-9668

- **Item B.2.f - Telephone:** 800-243-1574

- **Item B.2.g - Public Website:** www.virtus.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 240 Greenwich Street

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10286

- **g. Telephone number:** 212-495-1784

- **h. Briefly describe the books and records kept at this location:** Records related to its function as custodian

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** AlphaSimplex Group, LLC

- **b. Street 1:** 200 State Street

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02109

- **g. Telephone number:** 617-475-7100

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as sub-adviser

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Virtus Fund Services, LLC

- **b. Street 1:** One Financial Plaza

- **c. City:** Hartford

- **d. State, if applicable:** CT

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 06103

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

- **h. Briefly describe the books and records kept at this location:** Records relating to its function as Administrator and Transfer Agent

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Virtus Alternative Investment Advisers, LLC

- **b. Street 1:** One Financial Plaza

- **c. City:** Hartford

- **d. State, if applicable:** CT

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 06103

- **g. Telephone number:** 800-248-7971

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as investment adviser

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** BNY Mellon Investment Servicing (US) Inc.

- **b. Street 1:** 103 Bellevue Parkway

- **c. City:** Wilmington

- **d. State, if applicable:** DE

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 19809

- **g. Telephone number:** 1-302-791-1700

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as fund accountant, sub-administrator, sub-transfer agent and dividend dispersing agent

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Jennifer Fromm, Esq.

- **b. Street 1:** One Financial Plaza

- **c. City:** Hartford

- **d. State, if applicable:** CT

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 06103

- **g. Telephone number:** (800)-243-1574

- **h. Briefly describe the books and records kept at this location:** Records relating to her function as a Secretary of the Trust

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** VP Distributors, LLC

- **b. Street 1:** One Financial Plaza

- **c. City:** Hartford

- **d. State, if applicable:** CT

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 06103

- **g. Telephone number:** 860-263-4736

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as principal underwriter

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Duff & Phelps Investment Management Co.

- **b. Street 1:** 10 South Wacker Drive

- **Street 2:** 19th Floor

- **c. City:** Chicago

- **d. State, if applicable:** IL

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 60606-7453

- **g. Telephone number:** 312-263-2610

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as sub-adviser

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Virtus Investment Advisers, LLC

- **b. Street 1:** One Financial Plaza

- **c. City:** Hartford

- **d. State, if applicable:** CT

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 06103

- **g. Telephone number:** 800-248-7971

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment Adviser

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Virtus Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 3

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name               | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                            |
|:---|:---|:---|
| Sarah E. Cogan     | No                      | 811-21078, 811-07455, 811-22818, 811-04642, 811-23648, 811-23781, 811-21601, 811-21238, 811-21338, 811-21417, 811-00945, 811-06161, 811-08216, 811-21311, 811-23505, 811-23749, 811-21284, 811-21734, 811-21374, 811-22473, 811-10379, 811-23390, 811-21989, 811-07816, 811-22608, 811-23314, 811-09721, 811-10555, 811-21279, 811-23039, 811-21076, 811-07705, 811-23211, 811-22167, 811-03445, 811-22673, 811-05620, 811-23446 |
| Brian T. Zino      | No                      | 811-07455, 811-09140, 811-04642, 811-21284, 811-23446, 811-23039, 811-06161, 811-21989, 811-22608, 811-21417, 811-22473, 811-22818, 811-21338, 811-05620, 811-07705, 811-00945, 811-03445, 811-22167, 811-21279                                                                                                                                                                                                                  |
| R. Keith Walton    | No                      | 811-22167, 811-22818, 811-21338, 811-23039, 811-06161, 811-07912, 811-22473, 811-23968, 811-00945, 811-03445, 811-21284, 811-07705, 811-22608, 811-21279, 811-21417, 811-24038, 811-07455, 811-21989, 811-05620, 811-23446, 811-04642, 811-09140                                                                                                                                                                                 |
| John R. Mallin     | No                      | 811-22608, 811-05620, 811-09140, 811-00945, 811-22167, 811-22473, 811-07455, 811-21279, 811-06161, 811-03445, 811-07705, 811-22818, 811-04642                                                                                                                                                                                                                                                                                    |
| Deborah A. DeCotis | No                      | 811-21076, 811-03445, 811-21989, 811-22673, 811-22608, 811-21311, 811-08216, 811-23648, 811-23314, 811-23039, 811-21374, 811-22473, 811-07455, 811-10555, 811-22167, 811-21338, 811-05620, 811-10379, 811-21601, 811-00945, 811-07705, 811-09721, 811-22818, 811-23505, 811-21734, 811-21284, 811-23749, 811-23211, 811-23390, 811-04642, 811-07816, 811-21078, 811-21279, 811-23781, 811-21417, 811-23446, 811-21238, 811-06161 |
| F. Ford Drummond   | No                      | 811-07455, 811-22473, 811-06161, 811-22608, 811-23039, 811-21417, 811-22818, 811-22167, 811-03445, 811-21989, 811-21284, 811-23446, 811-05620, 811-00945, 811-21279, 811-21338, 811-04642, 811-07705                                                                                                                                                                                                                             |
| George R. Aylward  | Yes                     | 811-21279, 811-03445, 811-23446, 811-21417, 811-22167, 811-21989, 811-22608, 811-23039, 811-07705, 811-06161, 811-00945, 811-09140, 811-21338, 811-22473, 811-21284, 811-06416, 811-04642, 811-23968, 811-22533, 811-04915, 811-23078, 811-07455, 811-24038, 811-05620, 811-22818                                                                                                                                                |
| Connie D. McDaniel | No                      | 811-21417, 811-23446, 811-22818, 811-07705, 811-09140, 811-05620, 811-04642, 811-06161, 811-07455, 811-00945, 811-21989, 811-22608, 811-03445, 811-22167, 811-23968, 811-24038, 811-21279, 811-22473, 811-21338, 811-21284, 811-23039                                                                                                                                                                                            |
| Donald C. Burke    | No                      | 811-24038, 811-23968, 811-22167, 811-04915, 811-07705, 811-23039, 811-21338, 811-06416, 811-22533, 811-21279, 811-03445, 811-22608, 811-21284, 811-05620, 811-22818, 811-09140, 811-23446, 811-21417, 811-07455, 811-06161, 811-21989, 811-00945, 811-04642, 811-22473                                                                                                                                                           |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Timothy Branigan

- **b. CRD Number, if any:** 005980557

- **c. Street Address 1:** One Financial Plaza

- **   Street Address 2:** 26th Floor

- **d. City:** Hartford

- **e. State, if applicable:** CT

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 06103

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a - Did the Registrant rely on any exemptive orders from the Commission?:** No

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** VP Distributors, LLC

- **ii. SEC file number:** 008-14100

- **iii. CRD number:** 000003036

- **iv. LEI, if any:** 549300IW1QX018U5W603

- **v. State, if applicable:** CT

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** PA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Virtus AlphaSimplex Managed Futures Strategy Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Virtus AlphaSimplex Managed Futures Strategy Fund

- **b. Series identification number, if any:** S000079778

- **c. LEI:** 5493000L5NBK9FMRPQ24

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 4

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class A                 | C000241136                                | AMFAX                        |
|                           2 | Class R6                | C000241135                                | AMFNX                        |
|                           3 | Class C                 | C000241137                                | ASFCX                        |
|                           4 | Class I                 | C000241138                                | ASFYX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** —

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** Yes

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Virtus Alternative Investment Advisers, LLC

- **ii. SEC file number:** 801-67924

- **iii. CRD number:** 000143732

- **iv. LEI, if any:** 5493006J8H7JPKGZRE55

- **v. State, if applicable:** DE

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** AlphaSimplex Group, LLC

- **ii. SEC file number:** 801-62448

- **iii. CRD number:** 000128356

- **iv. LEI, if any:** LU8SRV9ICT5E29588H39

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. SEC file number:** 084-06485

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CT

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** DE

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG Data & Analytics

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Services, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **Description of other identifying number:** Tax ID

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CT

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. LEI, if any, or other identifying number:** N/A

- **iii. State, if applicable:** CT

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any, or other identifying number:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** VP Distributors, LLC

- **b. SEC file number:** 008-14100

- **c. CRD number:** 000003036

- **d. LEI, if any:** 549300IW1QX018U5W603

- **e. State, if applicable:** CT

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** MAREX SPECTRON USA LLC

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** 5493006GSOAOBRDCTN77

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,048.00

**Brokers Record: 2**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $425,149.00

**Brokers Record: 3**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $572,159.00

**Brokers Record: 4**

- **i. Full name of broker:** SG AMERICAS SECURITIES LLC

- **ii. SEC file number:** 008-66125

- **iii. CRD number:** 000128351

- **iv. LEI, if any:** 549300F35UE0BOM1WJ55

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $30,394.00

**Brokers Record: 5**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $634,720.00

**Aggregate Commission:** $1,670,469.00

**Item C.17.a. Principal transaction counterparties.**

| Name                            | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| CIBC WORLD MARKETS CORP.        | 008-18333         |    000000630 | 549300445CON3DBMU275 | NY      | US        | $111,509,642.00           |
| OPPENHEIMER & CO. INC.          | 008-04077         |    000000249 | 254900VH02JQR2L8XD64 | NY      | US        | $1,802,803,880.00         |
| BNY MELLON CAPITAL MARKETS, LLC | 008-35255         |    000017454 | VJW2DOOHGDT6PR0ZRO63 | NY      | US        | $291,000,000.00           |
| RBC CAPITAL MARKETS, LLC        | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $102,003,926.00           |
| BOFA SECURITIES, INC.           | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $17,238,172,287.00        |
| ICAP SECURITIES USA LLC         | 008-37947         |    000019739 | 549300G8NIYYSMVM6211 | NY      | US        | $654,919,585.00           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $20,200,409,319.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,408,231,772.75

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $250,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** The Bank of New York Mellon

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                 | SEC File number   |
|:---|:---|
| Virtus AlphaSimplex Global Alternatives Fund                 | 811-22906         |
| Virtus Newfleet HighYield MACS                               | 811-23968         |
| Stone Harbor Global Investment Grade Corporate Bond Fund     | N/A               |
| Stone Harbor Emerging Markets Corporate Debt Fund            | N/A               |
| Virtus Seix U.S. Government Securities Ultra-Short Bond Fund | 811-07705         |
| Virtus Silvant Mid-Cap Growth Fund                           | 811-06161         |
| Virtus Duff & Phelps Real Estate Securities Fund             | 811-07455         |
| Virtus GF Multi-Sector Short Duration Bond Fund              | N/A               |
| Virtus KAR Equity Income Series                              | 811-04642         |
| Virtus Seix High Grade Municipal Bond Fund                   | 811-07705         |
| Virtus KAR Capital Growth Series                             | 811-04642         |
| Virtus NFJ International Value Fund                          | 811-06161         |
| Virtus NFJ Mid-Cap Value Fund                                | 811-06161         |
| Virtus Zevenbergen Technology Fund                           | 811-06161         |
| Virtus Global Allocation Fund                                | 811-22167         |
| Virtus KAR Health Sciences Fund                              | 811-06161         |
| Virtus GF SGA Global Growth Fund                             | N/A               |
| The Merger Fund VL                                           | 811-21279         |
| Virtus Newfleet RMBS MACS                                    | 811-23968         |
| Virtus Income & Growth Fund                                  | 811-06161         |
| Virtus Seix Tax-Exempt Bond Fund                             | 811-07455         |
| Virtus GF U.S. Small-Mid Cap Fund                            | N/A               |
| Virtus Duff & Phelps Real Estate Securities Series           | 811-04642         |
| Virtus GF Emerging Markets High Dividend Fund                | N/A               |
| Virtus SGA Emerging Markets Equity Fund                      | 811-07455         |
| Virtus Ceredex Small-Cap Value Equity Fund                   | 811-07705         |
| Virtus Newfleet Senior Floating Rate Fund                    | 811-07455         |
| Virtus KAR Small-Mid Cap Core Fund                           | 811-00945         |
| Virtus Stone Harbor Emerging Markets Debt Income Fund        | 811-07455         |
| Virtus Westchester Event-Driven Fund                         | 811-22818         |
| Stone Harbor Investment Grade Emerging Market Debt Fund      | N/A               |
| Virtus Silvant Large-Cap Growth Stock Fund                   | 811-07705         |
| Virtus GF Select High Yield Fund                             | N/A               |
| Stone Harbor Multi Asset Credit Opportunistic Fund           | N/A               |
| Virtus Newfleet Multi-Sector Short Term Bond Fund            | 811-07455         |
| Virtus Duff & Phelps Select MLP and Energy Fund              | 811-22906         |
| Virtus KAR Capital Growth Fund                               | 811-00945         |
| Stone Harbor Multi Asset Credit (No. 2) Portfolio            | N/A               |
| Virtus NFJ Large-Cap Value Fund                              | 811-06161         |
| Virtus GF Global Small Cap Fund                              | N/A               |
| Virtus NFJ Dividend Value Fund                               | 811-06161         |
| Virtus Stone Harbor Local Markets Fund                       | 811-07455         |
| Virtus KAR Small-Cap Core Fund                               | 811-00945         |
| Virtus Seix Core Bond Fund                                   | 811-07705         |
| Virtus KAR Developing Markets Fund                           | 811-07455         |
| Virtus SGA International Growth Fund                         | 811-07705         |
| Virtus KAR Mid-Cap Core Fund                                 | 811-00945         |
| Virtus Newfleet Core Plus Bond Fund                          | 811-07455         |
| Virtus Duff & Phelps Real Asset Fund                         | 811-07455         |
| Virtus KAR International Small-Mid Cap Fund                  | 811-07455         |
| Stone Harbor ESG Emerging Markets Debt Blend Fund            | N/A               |
| Virtus Convertible Fund                                      | 811-22167         |
| Virtus Stone Harbor Emerging Markets Bond Fund               | 811-07455         |
| Stone Harbor Emerging Markets Debt Fund                      | N/A               |
| Virtus Newfleet Multi-Sector Intermediate Bond Fund          | 811-07455         |
| Virtus Newfleet Floating Rate MACS                           | 811-23968         |
| Stone Harbor High Yield Emerging Markets Corporate Debt Fund | N/A               |
| Stone Harbor Emerging Markets Local Currency Debt Fund       | N/A               |
| Virtus KAR Emerging Markets Small-Cap Fund                   | 811-07455         |
| Virtus Tactical Allocation Fund                              | 811-00945         |
| Virtus Newfleet CMBS MACS                                    | 811-23968         |
| Virtus Emerging Markets Opportunities Fund                   | 811-06161         |
| Virtus Ceredex Large-Cap Value Equity Fund                   | 811-07705         |
| Stone Harbor High Yield Bond Fund                            | N/A               |
| Virtus KAR Small-Mid Cap Value Fund                          | 811-00945         |
| Virtus Duff & Phelps Global Real Estate Securities Fund      | 811-07455         |
| Virtus KAR Small-Mid Cap Growth Fund                         | 811-00945         |
| Virtus Newfleet Low Duration Core Plus Bond Fund             | 811-07455         |
| Virtus Newfleet ABS MACS                                     | 811-23968         |
| Virtus Duff & Phelps Water Fund                              | 811-22167         |
| Virtus International Small-Cap Fund                          | 811-22167         |
| The Merger Fund                                              | 811-03445         |
| Virtus KAR Small-Cap Growth Series                           | 811-04642         |
| Stone Harbor Emerging Markets Debt Explorer Fund             | N/A               |
| Virtus GF Multi-Sector Income Fund                           | N/A               |
| Stone Harbor Investment Grade Emerging Market Corporate Fund | N/A               |
| Virtus KAR Small-Cap Growth Fund                             | 811-00945         |
| Virtus Seix High Yield Fund                                  | 811-07705         |
| Virtus Newfleet Multi-Sector Intermediate Bond Series        | 811-04642         |
| Virtus Seix High Yield MACS                                  | 811-23968         |
| Virtus Tactical Allocation Series                            | 811-04642         |
| Virtus Seix Total Return Bond Fund                           | 811-07705         |
| Virtus Ceredex Mid-Cap Value Equity Fund                     | 811-07705         |
| Virtus SGA International Growth Series                       | 811-04642         |
| Virtus KAR Small-Cap Value Series                            | 811-04642         |
| Virtus Newfleet Short Duration High Income Fund              | 811-22167         |
| Virtus KAR Small-Cap Value Fund                              | 811-00945         |
| Virtus Stone Harbor EMD MACS                                 | 811-23968         |
| Virtus Small-Cap Fund                                        | 811-06161         |
| Virtus NFJ Small-Cap Value Fund                              | 811-06161         |
| Virtus SGA Global Growth Fund                                | 811-00945         |
| Virtus KAR Mid-Cap Growth Fund                               | 811-00945         |
| Virtus Westchester Credit Event Fund                         | 811-22818         |
| Stone Harbor Emerging Markets Debt Blend Portfolio           | N/A               |
| Virtus Duff & Phelps Global Infrastructure Fund              | 811-07455         |
| Virtus Seix Investment Grade Tax-Exempt Bond Fund            | 811-07705         |
| Stone Harbor Multi Asset Credit Portfolio                    | N/A               |
| Virtus GF Clean Energy Fund                                  | N/A               |
| Virtus Zevenbergen Innovative Growth Stock Fund              | 811-07705         |
| Virtus KAR Global Small-Cap Fund                             | 811-06161         |
| Stone Harbor Securitised Bond Fund                           | N/A               |
| Virtus Newfleet High Yield Fund                              | 811-07455         |
| Virtus KAR Equity Income Fund                                | 811-00945         |
| Virtus NFJ Emerging Markets Value Fund                       | 811-22167         |
| Virtus GF U.S. Small Cap Focus Fund                          | N/A               |
| Virtus Silvant Focused Growth Fund                           | 811-06161         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Virtus AlphaSimplex Global Alternatives Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Virtus AlphaSimplex Global Alternatives Fund

- **b. Series identification number, if any:** S000079777

- **c. LEI:** 5493000L5JRHPCQVBL75

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 4

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class A                 | C000241134                                | GAFAX                        |
|                           2 | Class C                 | C000241131                                | GAFCX                        |
|                           3 | Class I                 | C000241132                                | GAFYX                        |
|                           4 | Class R6                | C000241133                                | GAFNX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** —

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Virtus Alternative Investment Advisers, LLC

- **ii. SEC file number:** 801-67924

- **iii. CRD number:** 000143732

- **iv. LEI, if any:** 5493006J8H7JPKGZRE55

- **v. State, if applicable:** DE

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** AlphaSimplex Group, LLC

- **ii. SEC file number:** 801-62448

- **iii. CRD number:** 000128356

- **iv. LEI, if any:** LU8SRV9ICT5E29588H39

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. SEC file number:** 084-06485

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CT

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** DE

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Services, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **Description of other identifying number:** Tax ID

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** LSEG Data & Analytics

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CT

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any, or other identifying number:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Virtus Fund Services, LLC

- **ii. LEI, if any, or other identifying number:** N/A

- **iii. State, if applicable:** CT

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** VP Distributors, LLC

- **b. SEC file number:** 008-14100

- **c. CRD number:** 000003036

- **d. LEI, if any:** 549300IW1QX018U5W603

- **e. State, if applicable:** CT

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** SG AMERICAS SECURITIES LLC

- **ii. SEC file number:** 008-66125

- **iii. CRD number:** 000128351

- **iv. LEI, if any:** 549300F35UE0BOM1WJ55

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,366.00

**Brokers Record: 2**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $15,599.00

**Brokers Record: 3**

- **i. Full name of broker:** MAREX SPECTRON USA LLC

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** 5493006GSOAOBRDCTN77

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $327.00

**Brokers Record: 4**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $37,562.00

**Brokers Record: 5**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,354.00

**Brokers Record: 6**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $57,045.00

**Aggregate Commission:** $136,252.00

**Item C.17.a. Principal transaction counterparties.**

| Name                            | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BNY MELLON CAPITAL MARKETS, LLC | 008-35255         |    000017454 | VJW2DOOHGDT6PR0ZRO63 | NY      | US        | $1,400,000.00             |
| BOFA SECURITIES, INC.           | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $1,126,484,029.00         |
| MORGAN STANLEY & CO. LLC        | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,758,736.00             |
| ICAP SECURITIES USA LLC         | 008-37947         |    000019739 | 549300G8NIYYSMVM6211 | NY      | US        | $14,921,881.00            |
| OPPENHEIMER & CO. INC.          | 008-04077         |    000000249 | 254900VH02JQR2L8XD64 | NY      | US        | $193,970,641.00           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,339,535,287.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $108,145,479.35

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $250,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** The Bank of New York Mellon

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                 | SEC File number   |
|:---|:---|
| Virtus KAR Small-Cap Value Fund                              | 811-00945         |
| Virtus SGA Global Growth Fund                                | 811-00945         |
| Virtus Ceredex Large-Cap Value Equity Fund                   | 811-07705         |
| Stone Harbor Multi Asset Credit (No. 2) Portfolio            | N/A               |
| Virtus Duff & Phelps Real Estate Securities Series           | 811-04642         |
| Virtus KAR Small-Mid Cap Value Fund                          | 811-00945         |
| Virtus KAR Emerging Markets Small-Cap Fund                   | 811-07455         |
| Virtus KAR Small-Mid Cap Core Fund                           | 811-00945         |
| Virtus KAR International Small-Mid Cap Fund                  | 811-07455         |
| Virtus KAR Mid-Cap Core Fund                                 | 811-00945         |
| Virtus GF Global Small Cap Fund                              | N/A               |
| Virtus Ceredex Small-Cap Value Equity Fund                   | 811-07705         |
| Virtus SGA Emerging Markets Equity Fund                      | 811-07455         |
| Virtus GF U.S. Small Cap Focus Fund                          | N/A               |
| Virtus Newfleet Senior Floating Rate Fund                    | 811-07455         |
| Stone Harbor Emerging Markets Corporate Debt Fund            | N/A               |
| Virtus GF Select High Yield Fund                             | N/A               |
| Stone Harbor Multi Asset Credit Portfolio                    | N/A               |
| Virtus Small-Cap Fund                                        | 811-06161         |
| Virtus Seix U.S. Government Securities Ultra-Short Bond Fund | 811-07705         |
| Virtus NFJ Large-Cap Value Fund                              | 811-06161         |
| Virtus Silvant Large-Cap Growth Stock Fund                   | 811-07705         |
| Virtus Newfleet Low Duration Core Plus Bond Fund             | 811-07455         |
| Virtus Seix Tax-Exempt Bond Fund                             | 811-07455         |
| Virtus NFJ Dividend Value Fund                               | 811-06161         |
| Virtus Income & Growth Fund                                  | 811-06161         |
| Virtus Duff & Phelps Select MLP and Energy Fund              | 811-22906         |
| Virtus Newfleet RMBS MACS                                    | 811-23968         |
| Virtus Duff & Phelps Real Asset Fund                         | 811-07455         |
| Virtus KAR Small-Mid Cap Growth Fund                         | 811-00945         |
| Virtus KAR Small-Cap Growth Series                           | 811-04642         |
| Virtus KAR Developing Markets Fund                           | 811-07455         |
| Virtus Stone Harbor Emerging Markets Bond Fund               | 811-07455         |
| Virtus GF SGA Global Growth Fund                             | N/A               |
| Virtus GF Multi-Sector Short Duration Bond Fund              | N/A               |
| Stone Harbor High Yield Emerging Markets Corporate Debt Fund | N/A               |
| Virtus KAR Capital Growth Series                             | 811-04642         |
| Virtus Newfleet High Yield Fund                              | 811-07455         |
| Stone Harbor Investment Grade Emerging Market Debt Fund      | N/A               |
| Stone Harbor Emerging Markets Local Currency Debt Fund       | N/A               |
| Virtus KAR Health Sciences Fund                              | 811-06161         |
| Virtus KAR Small-Cap Core Fund                               | 811-00945         |
| Virtus KAR Capital Growth Fund                               | 811-00945         |
| Stone Harbor Emerging Markets Debt Blend Portfolio           | N/A               |
| Stone Harbor Multi Asset Credit Opportunistic Fund           | N/A               |
| Virtus SGA International Growth Fund                         | 811-07705         |
| Virtus Newfleet Core Plus Bond Fund                          | 811-07455         |
| Virtus Silvant Mid-Cap Growth Fund                           | 811-06161         |
| Virtus Seix Total Return Bond Fund                           | 811-07705         |
| Virtus Zevenbergen Innovative Growth Stock Fund              | 811-07705         |
| Virtus NFJ Small-Cap Value Fund                              | 811-06161         |
| Virtus GF Emerging Markets High Dividend Fund                | N/A               |
| Virtus Emerging Markets Opportunities Fund                   | 811-06161         |
| Virtus Newfleet Multi-Sector Intermediate Bond Series        | 811-04642         |
| The Merger Fund VL                                           | 811-21279         |
| Stone Harbor Global Investment Grade Corporate Bond Fund     | N/A               |
| Virtus NFJ Mid-Cap Value Fund                                | 811-06161         |
| Virtus Stone Harbor EMD MACS                                 | 811-23968         |
| Virtus Zevenbergen Technology Fund                           | 811-06161         |
| Stone Harbor High Yield Bond Fund                            | N/A               |
| Virtus Newfleet Multi-Sector Short Term Bond Fund            | 811-07455         |
| Virtus Duff & Phelps Water Fund                              | 811-22167         |
| Virtus Seix Core Bond Fund                                   | 811-07705         |
| Stone Harbor Emerging Markets Debt Explorer Fund             | N/A               |
| Virtus Newfleet ABS MACS                                     | 811-23968         |
| Virtus Newfleet Short Duration High Income Fund              | 811-22167         |
| Virtus Global Allocation Fund                                | 811-22167         |
| Virtus Tactical Allocation Fund                              | 811-00945         |
| Virtus Silvant Focused Growth Fund                           | 811-06161         |
| Virtus NFJ International Value Fund                          | 811-06161         |
| Virtus Newfleet CMBS MACS                                    | 811-23968         |
| Virtus Duff & Phelps Real Estate Securities Fund             | 811-07455         |
| Virtus Seix High Yield Fund                                  | 811-07705         |
| Virtus KAR Mid-Cap Growth Fund                               | 811-00945         |
| Virtus AlphaSimplex Managed Futures Strategy Fund            | 811-22906         |
| Virtus GF Multi-Sector Income Fund                           | N/A               |
| Stone Harbor Securitised Bond Fund                           | N/A               |
| Stone Harbor Investment Grade Emerging Market Corporate Fund | N/A               |
| Virtus KAR Small-Cap Growth Fund                             | 811-00945         |
| Virtus Seix Investment Grade Tax-Exempt Bond Fund            | 811-07705         |
| Virtus Duff & Phelps Global Real Estate Securities Fund      | 811-07455         |
| Stone Harbor ESG Emerging Markets Debt Blend Fund            | N/A               |
| Virtus Seix High Grade Municipal Bond Fund                   | 811-07705         |
| Virtus Ceredex Mid-Cap Value Equity Fund                     | 811-07705         |
| Virtus KAR Small-Cap Value Series                            | 811-04642         |
| Virtus Convertible Fund                                      | 811-22167         |
| The Merger Fund                                              | 811-03445         |
| Virtus Seix High Yield MACS                                  | 811-23968         |
| Virtus KAR Global Small-Cap Fund                             | 811-06161         |
| Virtus KAR Equity Income Fund                                | 811-00945         |
| Virtus GF Clean Energy Fund                                  | N/A               |
| Virtus Newfleet HighYield MACS                               | 811-23968         |
| Virtus GF U.S. Small-Mid Cap Fund                            | N/A               |
| Virtus Newfleet Multi-Sector Intermediate Bond Fund          | 811-07455         |
| Virtus KAR Equity Income Series                              | 811-04642         |
| Virtus International Small-Cap Fund                          | 811-22167         |
| Virtus Tactical Allocation Series                            | 811-04642         |
| Virtus Stone Harbor Emerging Markets Debt Income Fund        | 811-07455         |
| Virtus Newfleet Floating Rate MACS                           | 811-23968         |
| Stone Harbor Emerging Markets Debt Fund                      | N/A               |
| Virtus Westchester Event-Driven Fund                         | 811-22818         |
| Virtus Westchester Credit Event Fund                         | 811-22818         |
| Virtus Stone Harbor Local Markets Fund                       | 811-07455         |
| Virtus NFJ Emerging Markets Value Fund                       | 811-22167         |
| Virtus SGA International Growth Series                       | 811-04642         |
| Virtus Duff & Phelps Global Infrastructure Fund              | 811-07455         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Virtus Alternative Solutions Trust

**Date:** 2026-03-13

**Signature:** Benjamin Lowe

**Title:** Vice President