# EDGAR Filing Document

**Accession Number:** 0001018593
**File Stem:** 0000940400-26-010027
**Filing Date:** 2026-3
**Character Count:** 358121
**Document Hash:** e4817aaac10aa91e8cf17bd9803280fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-010027.hdr.sgml**: 20260313

**ACCESSION NUMBER**: 0000940400-26-010027

**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 ASSET TRUST
- **CENTRAL INDEX KEY:** 0001018593

**ORGANIZATION NAME:**
- **EIN:** 956981193
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07705
- **FILM NUMBER:** 26751398

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** (800) 243-4361

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX ASSET TRUST
- **DATE OF NAME CHANGE:** 20060523

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX-KAYNE FUNDS
- **DATE OF NAME CHANGE:** 20021223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KAYNE ANDERSON RUDNICK MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20010226

## Series and Classes Contracts Data

### Virtus Ceredex Large-Cap Value Equity Fund (Series ID: S000057022)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181155 | Class A      | SVIIX           |
| C000181156 | Class C      | SVIFX           |
| C000181157 | Class I      | STVTX           |
| C000181158 | Class R6     | STVZX           |

### Virtus Seix High Grade Municipal Bond Fund (Series ID: S000057023)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181160 | Class A      | SFLTX           |
| C000181161 | Class I      | SCFTX           |

### Virtus Seix High Yield Fund (Series ID: S000057025)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181168 | Class A      | HYPSX           |
| C000181169 | Class I      | SAMHX           |
| C000181170 | Class R6     | HYIZX           |

### Virtus Seix Investment Grade Tax-Exempt Bond Fund (Series ID: S000057026)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181173 | Class A      | SISIX           |
| C000181174 | Class I      | STTBX           |

### Virtus Seix Total Return Bond Fund (Series ID: S000057031)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181187 | Class A      | CBPSX           |
| C000181188 | Class I      | SAMFX           |
| C000181189 | Class R6     | SAMZX           |

### Virtus Seix U.S. Government Securities Ultra-Short Bond Fund (Series ID: S000057032)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181192 | Class I      | SIGVX           |
| C000181193 | Class R6     | SIGZX           |
| C000203236 | Class A      | SSAGX           |

### Virtus Ceredex Mid-Cap Value Equity Fund (Series ID: S000057033)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181196 | Class A      | SAMVX           |
| C000181197 | Class C      | SMVFX           |
| C000181198 | Class I      | SMVTX           |
| C000181199 | Class R6     | SMVZX           |

### Virtus Silvant Large-Cap Growth Stock Fund (Series ID: S000057037)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181209 | Class A      | STCIX           |
| C000181211 | Class I      | STCAX           |
| C000181212 | Class R6     | STCZX           |

### Virtus SGA International Growth Fund (Series ID: S000057039)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181219 | Class A      | SCIIX           |
| C000181220 | Class I      | STITX           |
| C000181221 | Class R6     | SCIZX           |
| C000248388 | Class C      | VSGEX           |

### Virtus Zevenbergen Innovative Growth Stock Fund (Series ID: S000057040)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181224 | Class A      | SAGAX           |
| C000181225 | Class I      | SCATX           |
| C000224214 | Class R6     | VZGRX           |

### Virtus Ceredex Small-Cap Value Equity Fund (Series ID: S000057041)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181226 | Class A      | SASVX           |
| C000181227 | Class C      | STCEX           |
| C000181228 | Class I      | SCETX           |
| C000211610 | Class R6     | VVERX           |

### Virtus Seix Core Bond Fund (Series ID: S000057044)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181238 | Class A      | STGIX           |
| C000181239 | Class I      | STIGX           |
| C000181240 | Class R6     | STGZX           |

### Virtus Seix Floating Rate High Income Fund (Series ID: S000057046)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000181247 | Class A      | SFRAX           |
| C000181248 | Class C      | SFRCX           |
| C000181249 | Class I      | SAMBX           |
| C000181250 | Class R6     | SFRZX           |

## Internal

Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Virtus Asset Trust and Shareholders of Virtus Seix Core Bond Fund, Virtus Seix Floating Rate High Income Fund, Virtus Seix High Grade Municipal Bond Fund, Virtus Seix High Yield Fund, Virtus Seix Investment Grade Tax-Exempt Bond Fund, Virtus Seix Total Return Bond Fund, Virtus Seix U.S. Government Securities Ultra-Short Bond Fund, Virtus Ceredex Large-Cap Value Equity Fund, Virtus Ceredex Mid-Cap Value Equity Fund, Virtus Ceredex Small-Cap Value Equity Fund, Virtus SGA International Growth Fund, Virtus Silvant Large-Cap Growth Stock Fund, and Virtus Zevenbergen Innovative Growth Stock Fund<br>In planning and performing our audits of the financial statements of Virtus Seix Core Bond Fund, Virtus Seix Floating Rate High Income Fund, Virtus Seix High Grade Municipal Bond Fund, Virtus Seix High Yield Fund, Virtus Seix Investment Grade Tax-Exempt Bond Fund, Virtus Seix Total Return Bond Fund, Virtus Seix U.S. Government Securities Ultra-Short Bond Fund, Virtus Ceredex Large-Cap Value Equity Fund, Virtus Ceredex Mid-Cap Value Equity Fund, Virtus Ceredex Small-Cap Value Equity Fund, Virtus SGA International Growth Fund, Virtus Silvant Large-Cap Growth Stock Fund, and Virtus Zevenbergen Innovative Growth Stock Fund (constituting Virtus Asset Trust, hereafter collectively 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 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 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 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 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 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 Asset 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

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001018593

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

**Series ID Record:1**
- **Series ID:** S000057044

**Series ID Record:2**
- **Series ID:** S000057033

**Series ID Record:3**
- **Series ID:** S000057040

**Series ID Record:4**
- **Series ID:** S000057031

**Series ID Record:5**
- **Series ID:** S000057032

**Series ID Record:6**
- **Series ID:** S000057022

**Series ID Record:7**
- **Series ID:** S000057025

**Series ID Record:8**
- **Series ID:** S000057023

**Series ID Record:9**
- **Series ID:** S000057039

**Series ID Record:10**
- **Series ID:** S000057037

**Series ID Record:11**
- **Series ID:** S000057041

**Series ID Record:12**
- **Series ID:** S000057046

**Series ID Record:13**
- **Series ID:** S000057026

**Class ID Record:1**
- **Class ID:** C000181240

**Class ID Record:2**
- **Class ID:** C000181239

**Class ID Record:3**
- **Class ID:** C000181238

**Class ID Record:4**
- **Class ID:** C000181199

**Class ID Record:5**
- **Class ID:** C000181198

**Class ID Record:6**
- **Class ID:** C000181197

**Class ID Record:7**
- **Class ID:** C000181196

**Class ID Record:8**
- **Class ID:** C000224214

**Class ID Record:9**
- **Class ID:** C000181224

**Class ID Record:10**
- **Class ID:** C000181225

**Class ID Record:11**
- **Class ID:** C000181187

**Class ID Record:12**
- **Class ID:** C000181189

**Class ID Record:13**
- **Class ID:** C000181188

**Class ID Record:14**
- **Class ID:** C000203236

**Class ID Record:15**
- **Class ID:** C000181193

**Class ID Record:16**
- **Class ID:** C000181192

**Class ID Record:17**
- **Class ID:** C000181156

**Class ID Record:18**
- **Class ID:** C000181158

**Class ID Record:19**
- **Class ID:** C000181157

**Class ID Record:20**
- **Class ID:** C000181155

**Class ID Record:21**
- **Class ID:** C000181168

**Class ID Record:22**
- **Class ID:** C000181169

**Class ID Record:23**
- **Class ID:** C000181170

**Class ID Record:24**
- **Class ID:** C000181160

**Class ID Record:25**
- **Class ID:** C000181161

**Class ID Record:26**
- **Class ID:** C000181219

**Class ID Record:27**
- **Class ID:** C000181220

**Class ID Record:28**
- **Class ID:** C000181221

**Class ID Record:29**
- **Class ID:** C000248388

**Class ID Record:30**
- **Class ID:** C000181212

**Class ID Record:31**
- **Class ID:** C000181211

**Class ID Record:32**
- **Class ID:** C000181209

**Class ID Record:33**
- **Class ID:** C000181228

**Class ID Record:34**
- **Class ID:** C000181227

**Class ID Record:35**
- **Class ID:** C000181226

**Class ID Record:36**
- **Class ID:** C000211610

**Class ID Record:37**
- **Class ID:** C000181249

**Class ID Record:38**
- **Class ID:** C000181248

**Class ID Record:39**
- **Class ID:** C000181250

**Class ID Record:40**
- **Class ID:** C000181247

**Class ID Record:41**
- **Class ID:** C000181173

**Class ID Record:42**
- **Class ID:** C000181174

### 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 Asset Trust

- **Item B.1.b - Investment Company Act file number:** 811-07705

- **Item B.1.c - CIK:** 0001018593

- **Item B.1.d - LEI:** 5493001887IYOL1CRU72

- **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:** 800-263-4790

- **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 functions as Custodian

**Location books Record: 2**

- **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 related to its functions as Administrator and Transfer Agent

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Zevenbergen Capital Investments LLC

- **b. Street 1:** 601 Union Street, Suite 4600

- **c. City:** Seattle

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 98101

- **g. Telephone number:** 206-682-8469

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

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Sustainable Growth Advisers, LP

- **b. Street 1:** 301 Tresser Blvd.

- **Street 2:** Suite 1310

- **c. City:** Stamford

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 06901

- **g. Telephone number:** 1-203-348-4742

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

**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):** Ceredex Value Advisors LLC

- **b. Street 1:** 301 East Pine Street, Suite 500

- **c. City:** Orlando

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 32801

- **g. Telephone number:** 407-674-1270

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

**Location books Record: 7**

- **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: 8**

- **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: 9**

- **a. Name of person (e.g., a custodian of records):** Silvant Capital Management LLC

- **b. Street 1:** 3333 Piedmont Road, Suite 1500

- **c. City:** Atlanta

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 30305

- **g. Telephone number:** 800.243.4361

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

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **b. Street 1:** One Maynard Drive, Suite 3200

- **c. City:** Park Ridge

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 07656

- **g. Telephone number:** 201-391-0300

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

**Location books Record: 11**

- **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

**Location books Record: 12**

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

- **b. Street 1:** 3333 Piedmont Road

- **c. City:** Atlanta

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 30305

- **g. Telephone number:** 404-845-7696

- **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:** 13

- **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, 811-22906, 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, 811-23211, 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, 811-22906, 811-06161, 811-21989, 811-22608, 811-21417, 811-22473, 811-22818, 811-21338, 811-05620, 811-00945, 811-03445, 811-22167, 811-21279                                                                                                                                                                                                                  |
| R. Keith Walton    | No                      | 811-22167, 811-22818, 811-21338, 811-22906, 811-23039, 811-06161, 811-07912, 811-22473, 811-23968, 811-00945, 811-03445, 811-21284, 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, 811-22906, 811-09140, 811-00945, 811-22167, 811-22473, 811-07455, 811-21279, 811-06161, 811-03445, 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, 811-09721, 811-22818, 811-23505, 811-22906, 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, 811-22906, 811-22167, 811-03445, 811-21989, 811-21284, 811-23446, 811-05620, 811-00945, 811-21279, 811-21338, 811-04642                                                                                                                                                                                                                             |
| George R. Aylward  | Yes                     | 811-21279, 811-03445, 811-23446, 811-21417, 811-22167, 811-21989, 811-22608, 811-23039, 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, 811-22906, 811-05620, 811-22818                                                                                                                                                |
| Connie D. McDaniel | No                      | 811-21417, 811-23446, 811-22906, 811-22818, 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, 811-23039, 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, 811-22906                                                                                                                                                           |

### 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

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Virtus Seix Core Bond Fund

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

- **a. Full Name of the Fund:** Virtus Seix Core Bond Fund

- **b. Series identification number, if any:** S000057044

- **c. LEI:** 549300YU1SX4KT6M9G41

- **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?:** 3

- **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 R6                | C000181240                                | STGZX                        |
|                           2 | Class I                 | C000181239                                | STIGX                        |
|                           3 | Class A                 | C000181238                                | STGIX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $702,080.30

- **g. Provide the net income from securities lending activities:** $3,288.20

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

Did the Fund rely on the following rules?

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

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

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

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

- Rule 32a-4 (17 CFR 270.32a-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 Investment Advisers, LLC

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 4**

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

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** Skandinaviska Enskilda Banken AB, Stockholm

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** Euroclear France

- **ii. LEI, if any:** 54930060MY6S68NEUP16

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 3**

- **i. Full name:** CACEIS BANK SPAIN S.A.

- **ii. LEI, if any:** 95980020140005970915

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** CIBC Mellon Trust Company

- **ii. LEI, if any:** 549300IYUUH221WBZ505

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** Citibank N.A., Sucursal De Lima

- **ii. LEI, if any:** MYTK5NHHP1G8TVFGT193

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** Citibank Europe plc. Hungarian Branch Office

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** Bank Hapoalim B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** THE STANDARD BANK OF SOUTH AFRICA

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** The Bank of New York Mellon (United Kingdom)

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** Standard Chartered Bank, Indonesia Branch

- **ii. LEI, if any:** 254900XJQ7BKPSDXNP74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** Standard Chartered Bank Malaysia Berhad

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** Euroclear Bank

- **ii. LEI, if any:** 549300CBNW05DILT6870

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 13**

- **i. Full name:** HSBC Bank Australia Limited

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** MUFG Bank, Ltd.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 15**

- **i. Full name:** Skandinaviska Enskilda Banken AB, Oslo Branch

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** Citibank N.A., Brazilian Branch

- **ii. LEI, if any:** 1P0UUG7LC1S92QTNHG39

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation, Seoul

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** HSBC NOMINEES (NEW ZEALAND) LIMITED

- **ii. LEI, if any:** 213800NHDWIZKO5KIH05

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** Bank Polska Kasa Opieki S.A.

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** CBM BANCO, S.A., INSTITUCION DE BANCA MULTIPLE, INTEGRANTE DEL GRUPO FINANCIERO

- **ii. LEI, if any:** 529900H31AYI6WA1J534

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **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))

**Custodians Record: 25**

- **i. Full name:** Citibank Europe PLC (Czech Republic)

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** UBS SWITZERLAND AG (T2S)

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **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:** 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:** $1,425.00

**Aggregate Commission:** $1,425.00

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

| Name                                  | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| CitiGroup Global Markets Inc.         | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $18,327,670.00            |
| J.P. Morgan Securities LLC            | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $16,384,646.00            |
| BOFA SECURITIES, INC.                 | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $7,490,901.00             |
| HSBC SECURITIES (USA), INC.           | 008-41562         |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $56,721,275.00            |
| WELLS FARGO SECURITIES, LLC           | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $8,449,318.00             |
| PERSHING LLC                          | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $5,630,473.00             |
| CITADEL SECURITIES LLC                | 008-53574         |    000116797 | 12UUJYTN7D3SW8KCSG25 | IL      | US        | $105,898,910.00           |
| NOMURA SECURITIES INTERNATIONAL, INC. | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $70,587,371.00            |
| BARCLAYS CAPITAL, INC.                | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $47,689,783.00            |
| MORGAN STANLEY & CO. LLC              | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $6,688,442.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $374,030,969.00

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

- **Item C.19.a - Fund's monthly average net assets:** $96,399,412.76

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

### Management Investment Record: 2 - Virtus Ceredex Mid-Cap Value Equity Fund

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

- **a. Full Name of the Fund:** Virtus Ceredex Mid-Cap Value Equity Fund

- **b. Series identification number, if any:** S000057033

- **c. LEI:** 54930071WX6W52LFTU13

- **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 R6                | C000181199                                | SMVZX                        |
|                           2 | Class I                 | C000181198                                | SMVTX                        |
|                           3 | Class C                 | C000181197                                | SMVFX                        |
|                           4 | Class A                 | C000181196                                | SAMVX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $1,020,260.49

- **g. Provide the net income from securities lending activities:** $6,810.48

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

Did the Fund rely on the following rules?

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

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

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

- Rule 32a-4 (17 CFR 270.32a-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 Investment Advisers, LLC

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Ceredex Value Advisors LLC

- **ii. SEC file number:** 801-68739

- **iii. CRD number:** 000014023

- **iv. LEI, if any:** 549300XJ44OJZRRKLX83

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 4**

- **i. Full name:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $90,759.00

**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:** $125,803.00

**Brokers Record: 3**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $79,169.00

**Brokers Record: 4**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $146,224.00

**Brokers Record: 5**

- **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:** $64,964.00

**Brokers Record: 6**

- **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:** $108,625.00

**Brokers Record: 7**

- **i. Full name of broker:** EVERCORE GROUP L.L.C.

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $131,345.00

**Brokers Record: 8**

- **i. Full name of broker:** KEYBANC CAPITAL MARKETS, INC.

- **ii. SEC file number:** 008-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $97,956.00

**Brokers Record: 9**

- **i. Full name of broker:** LUMINEX TRADING & ANALYTICS LLC

- **ii. SEC file number:** 008-69476

- **iii. CRD number:** 000171752

- **iv. LEI, if any:** 254900ZBK50B4Y36MJ33

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $139,661.00

**Brokers Record: 10**

- **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:** $75,048.00

**Aggregate Commission:** $1,627,402.00

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

| Name                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| MORGAN STANLEY & CO. LLC | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,440,000.00             |
| BOFA SECURITIES, INC.    | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $32,200.00                |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,472,200.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $1,359,179,139.81

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

- **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: 3 - Virtus Zevenbergen Innovative Growth Stock Fund

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

- **a. Full Name of the Fund:** Virtus Zevenbergen Innovative Growth Stock Fund

- **b. Series identification number, if any:** S000057040

- **c. LEI:** 549300JUIZNKCUX1OE74

- **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?:** 3

- **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 R6                | C000224214                                | VZGRX                        |
|                           2 | Class A                 | C000181224                                | SAGAX                        |
|                           3 | Class I                 | C000181225                                | SCATX                        |

**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?** No

**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 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

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

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

- Rule 32a-4 (17 CFR 270.32a-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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Zevenbergen Capital Investments LLC

- **ii. SEC file number:** 801-62477

- **iii. CRD number:** 000128990

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

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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: 4**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

- **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:** INSTINET, LLC

- **ii. SEC file number:** 008-23669

- **iii. CRD number:** 000007897

- **iv. LEI, if any:** 549300MGMN3RKMU8FT57

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,928.00

**Brokers Record: 2**

- **i. Full name of broker:** TD SECURITIES (USA) LLC

- **ii. SEC file number:** 008-36747

- **iii. CRD number:** 000018476

- **iv. LEI, if any:** SUVUFHICNZMP2WKHG940

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,312.00

**Brokers Record: 3**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,501.00

**Brokers Record: 4**

- **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:** $5,304.00

**Brokers Record: 5**

- **i. Full name of broker:** EVERCORE GROUP L.L.C.

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,696.00

**Brokers Record: 6**

- **i. Full name of broker:** STIFEL FINANCIAL CORP.

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

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

- **iv. LEI, if any:** 549300E5F07FE5GHJX84

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,928.00

**Brokers Record: 7**

- **i. Full name of broker:** KEYBANC CAPITAL MARKETS, INC.

- **ii. SEC file number:** 008-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,943.00

**Brokers Record: 8**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,170.00

**Brokers Record: 9**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INC.

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,517.00

**Brokers Record: 10**

- **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:** $5,652.00

**Aggregate Commission:** $102,916.00

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $507,626,991.64

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

- **v. Did the Fund draw on the line of credit this period?** —

- **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: 4 - Virtus Seix Total Return Bond Fund

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

- **a. Full Name of the Fund:** Virtus Seix Total Return Bond Fund

- **b. Series identification number, if any:** S000057031

- **c. LEI:** 549300IWC5TV58FXZZ22

- **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?:** 3

- **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                 | C000181187                                | CBPSX                        |
|                           2 | Class R6                | C000181189                                | SAMZX                        |
|                           3 | Class I                 | C000181188                                | SAMFX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $721,152.92

- **g. Provide the net income from securities lending activities:** $4,505.38

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

Did the Fund rely on the following rules?

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

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

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

- 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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 4**

- **i. Full name:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** CACEIS BANK SPAIN S.A.

- **ii. LEI, if any:** 95980020140005970915

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** Skandinaviska Enskilda Banken AB, Stockholm

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** Standard Chartered Bank Malaysia Berhad

- **ii. LEI, if any:** 549300JTJBG2QBI8KD48

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** The Bank of New York Mellon (United Kingdom)

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** CIBC Mellon Trust Company

- **ii. LEI, if any:** 549300IYUUH221WBZ505

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** HSBC Bank Australia Limited

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **i. Full name:** Citibank N.A., Sucursal De Lima

- **ii. LEI, if any:** MYTK5NHHP1G8TVFGT193

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 9**

- **i. Full name:** Citibank N.A., Brazilian Branch

- **ii. LEI, if any:** 1P0UUG7LC1S92QTNHG39

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 10**

- **i. Full name:** Citibank Europe plc. Hungarian Branch Office

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 12**

- **i. Full name:** MUFG Bank, Ltd.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **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))

**Custodians Record: 14**

- **i. Full name:** Euroclear Bank

- **ii. LEI, if any:** 549300CBNW05DILT6870

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 15**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation, Seoul

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** UBS SWITZERLAND AG (T2S)

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** Citibank Europe PLC (Czech Republic)

- **ii. LEI, if any:** N1FBEDJ5J41VKZLO2475

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** Standard Chartered Bank (Singapore) Limited

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 19**

- **i. Full name:** Skandinaviska Enskilda Banken AB, Oslo Branch

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** Bank Polska Kasa Opieki S.A.

- **ii. LEI, if any:** 5493000LKS7B3UTF7H35

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** CBM BANCO, S.A., INSTITUCION DE BANCA MULTIPLE, INTEGRANTE DEL GRUPO FINANCIERO

- **ii. LEI, if any:** 529900H31AYI6WA1J534

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** HSBC NOMINEES (NEW ZEALAND) LIMITED

- **ii. LEI, if any:** 213800NHDWIZKO5KIH05

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

- **i. Full name:** Euroclear France

- **ii. LEI, if any:** 54930060MY6S68NEUP16

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 24**

- **i. Full name:** Bank Hapoalim B.M.

- **ii. LEI, if any:** B6ARUI4946ST4S7WOU88

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** Standard Chartered Bank, Indonesia Branch

- **ii. LEI, if any:** 254900XJQ7BKPSDXNP74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** THE STANDARD BANK OF SOUTH AFRICA

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **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:** 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:** $1,083.00

**Aggregate Commission:** $1,083.00

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

| Name                                  | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| MORGAN STANLEY & CO. LLC              | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $5,773,814.00             |
| NOMURA SECURITIES INTERNATIONAL, INC. | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $59,458,835.00            |
| J.P. Morgan Securities LLC            | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $9,221,438.00             |
| BOFA SECURITIES, INC.                 | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $10,968,519.00            |
| CitiGroup Global Markets Inc.         | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $15,145,209.00            |
| CITADEL SECURITIES LLC                | 008-53574         |    000116797 | 12UUJYTN7D3SW8KCSG25 | IL      | US        | $124,964,139.00           |
| BARCLAYS CAPITAL, INC.                | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $31,690,978.00            |
| PERSHING LLC                          | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $3,999,833.00             |
| WELLS FARGO SECURITIES, LLC           | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $10,669,211.00            |
| HSBC SECURITIES (USA), INC.           | 008-41562         |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $48,308,366.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $347,684,369.00

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

- **Item C.19.a - Fund's monthly average net assets:** $108,930,208.33

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

- **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: 5 - Virtus Seix U.S. Government Securities Ultra-Short Bond Fund

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

- **a. Full Name of the Fund:** Virtus Seix U.S. Government Securities Ultra-Short Bond Fund

- **b. Series identification number, if any:** S000057032

- **c. LEI:** 5493004FW06DQKUXKI57

- **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?:** 3

- **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                 | C000203236                                | SSAGX                        |
|                           2 | Class R6                | C000181193                                | SIGZX                        |
|                           3 | Class I                 | C000181192                                | SIGVX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $121,735.74

- **g. Provide the net income from securities lending activities:** $512.61

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

Did the Fund rely on the following rules?

- Rule 17a-8 (17 CFR 270.17a-8)

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

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

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

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

- Rule 32a-4 (17 CFR 270.32a-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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 3**

- **i. Full name:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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: 4**

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

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** 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:** $154.00

**Aggregate Commission:** $154.00

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

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| GOLDMAN SACHS & CO. LLC               | 008-00129         | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $13,752,489.00            |
| BMO CAPITAL MARKETS CORP.             | 008-34344         | 000016686    | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $38,706,174.00            |
| PERSHING LLC                          | 008-17574         | 000007560    | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $34,640,854.00            |
| NOMURA SECURITIES INTERNATIONAL, INC. | 008-15255         | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $14,315,431.00            |
| CitiGroup Global Markets Inc.         | 008-08177         | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $21,404,203.00            |
| MORGAN STANLEY & CO. LLC              | 008-15869         | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $37,360,161.00            |
| STIFEL FINANCIAL CORP.                | N/A               | N/A          | 549300E5F07FE5GHJX84 | MO      | US        | $35,578,958.00            |
| BOFA SECURITIES, INC.                 | 008-69787         | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $22,505,903.00            |
| CANTOR FITZGERALD & CO.               | 008-00201         | 000000134    | 5493004J7H4GCPG6OB62 | NY      | US        | $17,246,509.00            |
| J.P. Morgan Securities LLC            | 008-35008         | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $39,260,903.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $364,628,747.00

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

- **Item C.19.a - Fund's monthly average net assets:** $376,789,199.78

**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:** 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 Stone Harbor Emerging Markets Debt Income Fund        | 811-07455         |
| The Merger Fund VL                                           | 811-21279         |
| Virtus Duff & Phelps Global Real Estate Securities Fund      | 811-07455         |
| Virtus KAR Health Sciences Fund                              | 811-06161         |
| Virtus KAR Small-Cap Growth Fund                             | 811-00945         |
| Virtus KAR Small-Cap Core Fund                               | 811-00945         |
| Virtus Stone Harbor EMD MACS                                 | 811-23968         |
| Virtus Newfleet Multi-Sector Short Term Bond Fund            | 811-07455         |
| Virtus KAR Small-Mid Cap Value Fund                          | 811-00945         |
| Virtus Silvant Mid-Cap Growth Fund                           | 811-06161         |
| Virtus Zevenbergen Technology Fund                           | 811-06161         |
| Virtus Tactical Allocation Series                            | 811-04642         |
| Virtus Newfleet Senior Floating Rate Fund                    | 811-07455         |
| Stone Harbor Global Investment Grade Corporate Bond Fund     | N/A               |
| Virtus Newfleet Short Duration High Income Fund              | 811-22167         |
| Virtus Seix Total Return Bond Fund                           | 811-07705         |
| Virtus Newfleet Core Plus Bond Fund                          | 811-07455         |
| Stone Harbor Emerging Markets Local Currency Debt Fund       | N/A               |
| Virtus Global Allocation Fund                                | 811-22167         |
| Virtus KAR Developing Markets Fund                           | 811-07455         |
| Virtus KAR Emerging Markets Small-Cap Fund                   | 811-07455         |
| Virtus KAR Capital Growth Fund                               | 811-00945         |
| Virtus NFJ Emerging Markets Value Fund                       | 811-22167         |
| Virtus NFJ Large-Cap Value Fund                              | 811-06161         |
| Virtus Westchester Event-Driven Fund                         | 811-22818         |
| Virtus Stone Harbor Local Markets Fund                       | 811-07455         |
| Stone Harbor Investment Grade Emerging Market Debt Fund      | N/A               |
| Virtus GF Multi-Sector Income Fund                           | N/A               |
| Virtus NFJ Dividend Value Fund                               | 811-06161         |
| Virtus Seix Tax-Exempt Bond Fund                             | 811-07455         |
| Virtus Newfleet ABS MACS                                     | 811-23968         |
| Virtus GF Clean Energy Fund                                  | N/A               |
| Virtus KAR Global Small-Cap Fund                             | 811-06161         |
| Virtus Duff & Phelps Global Infrastructure Fund              | 811-07455         |
| Virtus Emerging Markets Opportunities Fund                   | 811-06161         |
| Stone Harbor Emerging Markets Debt Fund                      | N/A               |
| Virtus KAR Mid-Cap Growth Fund                               | 811-00945         |
| Virtus AlphaSimplex Managed Futures Strategy Fund            | 811-22906         |
| Virtus KAR Small-Cap Growth Series                           | 811-04642         |
| Stone Harbor Emerging Markets Corporate Debt Fund            | N/A               |
| Virtus Silvant Focused Growth Fund                           | 811-06161         |
| Virtus Silvant Large-Cap Growth Stock Fund                   | 811-07705         |
| Virtus Zevenbergen Innovative Growth Stock Fund              | 811-07705         |
| Virtus GF Select High Yield Fund                             | N/A               |
| Virtus Small-Cap Fund                                        | 811-06161         |
| Virtus SGA International Growth Series                       | 811-04642         |
| Stone Harbor Emerging Markets Debt Explorer Fund             | N/A               |
| Virtus NFJ Small-Cap Value Fund                              | 811-06161         |
| Virtus Newfleet Low Duration Core Plus Bond Fund             | 811-07455         |
| Virtus Seix Core Bond Fund                                   | 811-07705         |
| Virtus Newfleet High Yield Fund                              | 811-07455         |
| Virtus Newfleet Multi-Sector Intermediate Bond Series        | 811-04642         |
| Virtus GF Multi-Sector Short Duration Bond Fund              | N/A               |
| Virtus GF Emerging Markets High Dividend Fund                | N/A               |
| Virtus SGA Global Growth Fund                                | 811-00945         |
| Virtus GF U.S. Small-Mid Cap Fund                            | N/A               |
| Virtus KAR Capital Growth Series                             | 811-04642         |
| Virtus Newfleet HighYield MACS                               | 811-23968         |
| Virtus Newfleet Floating Rate MACS                           | 811-23968         |
| Virtus Seix Investment Grade Tax-Exempt Bond Fund            | 811-07705         |
| Virtus KAR Mid-Cap Core Fund                                 | 811-00945         |
| Virtus KAR Equity Income Series                              | 811-04642         |
| Stone Harbor High Yield Bond Fund                            | N/A               |
| Virtus Westchester Credit Event Fund                         | 811-22818         |
| Virtus KAR Small-Cap Value Series                            | 811-04642         |
| Virtus KAR Small-Cap Value Fund                              | 811-00945         |
| Stone Harbor Investment Grade Emerging Market Corporate Fund | N/A               |
| Virtus Newfleet CMBS MACS                                    | 811-23968         |
| Stone Harbor Multi Asset Credit (No. 2) Portfolio            | N/A               |
| Virtus Stone Harbor Emerging Markets Bond Fund               | 811-07455         |
| Stone Harbor Multi Asset Credit Opportunistic Fund           | N/A               |
| Virtus KAR Equity Income Fund                                | 811-00945         |
| Virtus Duff & Phelps Real Asset Fund                         | 811-07455         |
| Virtus SGA Emerging Markets Equity Fund                      | 811-07455         |
| Virtus Income & Growth Fund                                  | 811-06161         |
| Virtus Newfleet RMBS MACS                                    | 811-23968         |
| Virtus KAR International Small-Mid Cap Fund                  | 811-07455         |
| Stone Harbor High Yield Emerging Markets Corporate Debt Fund | N/A               |
| Virtus AlphaSimplex Global Alternatives Fund                 | 811-22906         |
| Stone Harbor ESG Emerging Markets Debt Blend Fund            | N/A               |
| Virtus Newfleet Multi-Sector Intermediate Bond Fund          | 811-07455         |
| Virtus GF SGA Global Growth Fund                             | N/A               |
| Virtus Seix High Grade Municipal Bond Fund                   | 811-07705         |
| Virtus Convertible Fund                                      | 811-22167         |
| Virtus SGA International Growth Fund                         | 811-07705         |
| Virtus Duff & Phelps Real Estate Securities Fund             | 811-07455         |
| Virtus Duff & Phelps Real Estate Securities Series           | 811-04642         |
| Virtus Tactical Allocation Fund                              | 811-00945         |
| Virtus Ceredex Large-Cap Value Equity Fund                   | 811-07705         |
| Stone Harbor Securitised Bond Fund                           | N/A               |
| The Merger Fund                                              | 811-03445         |
| Virtus Ceredex Small-Cap Value Equity Fund                   | 811-07705         |
| Virtus NFJ International Value Fund                          | 811-06161         |
| Virtus Seix High Yield MACS                                  | 811-23968         |
| Virtus GF U.S. Small Cap Focus Fund                          | N/A               |
| Virtus Seix High Yield Fund                                  | 811-07705         |
| Virtus KAR Small-Mid Cap Growth Fund                         | 811-00945         |
| Virtus Duff & Phelps Select MLP and Energy Fund              | 811-22906         |
| Virtus International Small-Cap Fund                          | 811-22167         |
| Virtus Seix U.S. Government Securities Ultra-Short Bond Fund | 811-07705         |
| Stone Harbor Emerging Markets Debt Blend Portfolio           | N/A               |
| Virtus Ceredex Mid-Cap Value Equity Fund                     | 811-07705         |
| Stone Harbor Multi Asset Credit Portfolio                    | N/A               |
| Virtus Duff & Phelps Water Fund                              | 811-22167         |
| Virtus KAR Small-Mid Cap Core Fund                           | 811-00945         |
| Virtus GF Global Small Cap Fund                              | N/A               |
| Virtus NFJ Mid-Cap Value 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: 6 - Virtus Ceredex Large-Cap Value Equity Fund

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

- **a. Full Name of the Fund:** Virtus Ceredex Large-Cap Value Equity Fund

- **b. Series identification number, if any:** S000057022

- **c. LEI:** 549300S0GXLATV0V4E13

- **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 C                 | C000181156                                | SVIFX                        |
|                           2 | Class R6                | C000181158                                | STVZX                        |
|                           3 | Class I                 | C000181157                                | STVTX                        |
|                           4 | Class A                 | C000181155                                | SVIIX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $440,298.77

- **g. Provide the net income from securities lending activities:** $6,320.99

**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(c)(4) (17CFR 270.18f-4(c)(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 Investment Advisers, LLC

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Ceredex Value Advisors LLC

- **ii. SEC file number:** 801-68739

- **iii. CRD number:** 000014023

- **iv. LEI, if any:** 549300XJ44OJZRRKLX83

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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: 4**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

- **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:** LUMINEX TRADING & ANALYTICS LLC

- **ii. SEC file number:** 008-69476

- **iii. CRD number:** 000171752

- **iv. LEI, if any:** 254900ZBK50B4Y36MJ33

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $28,010.00

**Brokers Record: 2**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INC.

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $64,013.00

**Brokers Record: 3**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $58,494.00

**Brokers Record: 4**

- **i. Full name of broker:** PIPER SANDLER & CO.

- **ii. SEC file number:** 008-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,105.00

**Brokers Record: 5**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $30,687.00

**Brokers Record: 6**

- **i. Full name of broker:** KEYBANC CAPITAL MARKETS, INC.

- **ii. SEC file number:** 008-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,174.00

**Brokers Record: 7**

- **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:** $26,207.00

**Brokers Record: 8**

- **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:** $29,812.00

**Brokers Record: 9**

- **i. Full name of broker:** EVERCORE GROUP LLC

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $19,976.00

**Brokers Record: 10**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $19,405.00

**Aggregate Commission:** $463,554.00

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $510,699,854.02

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

- **v. Did the Fund draw on the line of credit this period?** —

- **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: 7 - Virtus Seix High Yield Fund

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

- **a. Full Name of the Fund:** Virtus Seix High Yield Fund

- **b. Series identification number, if any:** S000057025

- **c. LEI:** 549300JK6ZT0B425KK09

- **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?:** 3

- **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                 | C000181168                                | HYPSX                        |
|                           2 | Class I                 | C000181169                                | SAMHX                        |
|                           3 | Class R6                | C000181170                                | HYIZX                        |

**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

- [x] 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

- [ ] 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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $11,348,920.00

- **g. Provide the net income from securities lending activities:** $231,646.61

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

Did the Fund rely on the following rules?

- Rule 17a-8 (17 CFR 270.17a-8)

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

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

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

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

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

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 2**

- **i. Full name:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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: 4**

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

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** Euroclear Bank

- **ii. LEI, if any:** 549300CBNW05DILT6870

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 2**

- **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))

**Custodians Record: 3**

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

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **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.**

No Brokers reported.

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| ROBERT W BAIRD & CO. INC.     | 008-00497         |    000008158 | 549300772UJAHRD6LO53 | WI      | US        | $23,296,021.00            |
| PERSHING LLC                  | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $22,769,143.00            |
| J.P. Morgan Securities LLC    | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $217,459,522.00           |
| GOLDMAN SACHS & CO. LLC       | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $47,164,201.00            |
| MORGAN STANLEY & CO. LLC      | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $22,860,417.00            |
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $9,412,944.00             |
| WELLS FARGO SECURITIES, LLC   | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $24,773,784.00            |
| BOFA SECURITIES, INC.         | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $19,813,219.00            |
| JEFFERIES LLC                 | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $22,107,667.00            |
| BARCLAYS CAPITAL, INC.        | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $12,058,980.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $485,462,090.00

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

- **Item C.19.a - Fund's monthly average net assets:** $417,003,517.61

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

- **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: 8 - Virtus Seix High Grade Municipal Bond Fund

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

- **a. Full Name of the Fund:** Virtus Seix High Grade Municipal Bond Fund

- **b. Series identification number, if any:** S000057023

- **c. LEI:** 549300Z30AGMO5EEOT47

- **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?:** 2

- **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                 | C000181160                                | SFLTX                        |
|                           2 | Class I                 | C000181161                                | SCFTX                        |

**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?** No

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

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

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

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 3**

- **i. Full name:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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: 4**

- **i. Full name:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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.**

No Brokers reported.

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

| Name                             | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| D.A. DAVIDSON & CO.              | 008-02399         |    000000199 | 549300094RQ5A7DYLF51 | MT      | US        | $154,877.00               |
| J.P. Morgan Securities LLC       | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $739,282.00               |
| BOFA SECURITIES, INC.            | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $967,711.00               |
| MORGAN STANLEY & CO. LLC         | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,878,067.00             |
| RAYMOND JAMES & ASSOCIATES, INC. | 008-10999         |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $10,620,630.00            |
| RBC CAPITAL MARKETS, LLC         | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $681,161.00               |
| BARCLAYS CAPITAL, INC.           | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $274,680.00               |
| PERSHING LLC                     | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $12,610,291.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $27,926,697.00

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

- **Item C.19.a - Fund's monthly average net assets:** $19,735,914.21

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

- **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: 9 - Virtus SGA International Growth Fund

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

- **a. Full Name of the Fund:** Virtus SGA International Growth Fund

- **b. Series identification number, if any:** S000057039

- **c. LEI:** 5493000X0M0KMG2CRK03

- **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                 | C000181219                                | SCIIX                        |
|                           2 | Class I                 | C000181220                                | STITX                        |
|                           3 | Class R6                | C000181221                                | SCIZX                        |
|                           4 | Class C                 | C000248388                                | VSGEX                        |

**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?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $6,833,191.18

- **g. Provide the net income from securities lending activities:** $195,251.15

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

Did the Fund rely on the following rules?

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

- Rule 17a-8 (17 CFR 270.17a-8)

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

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

- Rule 22d-1 (17 CFR 270.22d-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?** Yes

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Sustainable Growth Advisers, LP

- **ii. SEC file number:** 801-62151

- **iii. CRD number:** 000127447

- **iv. LEI, if any:** 254900YJCQ391O8UQ071

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 3**

- **i. Full name:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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: 4**

- **i. Full name:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** Banque Nationale de Belgique SA/NV

- **ii. LEI, if any:** CGYP50QBGGR6NCHTSN68

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 2**

- **i. Full name:** HSBC Bank Middle East Limited

- **ii. LEI, if any:** 549300F99IL9YJDWH369

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 3**

- **i. Full name:** Skandinaviska Enskilda Banken AB, Stockholm

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 4**

- **i. Full name:** Skandinaviska Enskilda Banken AB, Oslo Branch

- **ii. LEI, if any:** F3JS33DEI6XQ4ZBPTN86

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 5**

- **i. Full name:** MUFG Bank, Ltd.

- **ii. LEI, if any:** C3GTMMZIHMY46P4OIX74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 6**

- **i. Full name:** Standard Chartered Bank, India Branch

- **ii. LEI, if any:** 335800S2ENIXDK4PJG40

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 7**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 8**

- **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))

**Custodians Record: 9**

- **i. Full name:** Euroclear Bank

- **ii. LEI, if any:** 549300CBNW05DILT6870

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 10**

- **i. Full name:** Citibank N.A., Brazilian Branch

- **ii. LEI, if any:** 1P0UUG7LC1S92QTNHG39

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 11**

- **i. Full name:** Euroclear France

- **ii. LEI, if any:** 54930060MY6S68NEUP16

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 12**

- **i. Full name:** UBS Switzerland AG

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 13**

- **i. Full name:** Nordea Bank AB - Denmark Branch

- **ii. LEI, if any:** 6SCPQ280AIY8EP3XFW53

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 14**

- **i. Full name:** Euroclear Belgium

- **ii. LEI, if any:** 21380014SJC1QPK8O356

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 15**

- **i. Full name:** The Bank of New York Mellon (United Kingdom)

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 16**

- **i. Full name:** HSBC HK Bond Connect - China

- **ii. LEI, if any:** 2CZOJRADNJXBLT55G526

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 17**

- **i. Full name:** The Bank of New York Mellon SA/NV, Asset Servicing, Niederlassung Frankfurt am Main

- **ii. LEI, if any:** 5299008ORSGF0TGLSC98

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 18**

- **i. Full name:** TBank

- **ii. LEI, if any:** 2534000KL0PLD6KG7T76

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Other

**Custodians Record: 19**

- **i. Full name:** The Bank of New York Mellon, SA/NV (Italy)

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 20**

- **i. Full name:** UBS SWITZERLAND AG (T2S)

- **ii. LEI, if any:** 549300WOIFUSNYH0FL22

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 21**

- **i. Full name:** CBM BANCO, S.A., INSTITUCION DE BANCA MULTIPLE, INTEGRANTE DEL GRUPO FINANCIERO

- **ii. LEI, if any:** 529900H31AYI6WA1J534

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 22**

- **i. Full name:** HSBC Bank Australia Limited

- **ii. LEI, if any:** DY9DBNI4W8J63Z298033

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 23**

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

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 24**

- **i. Full name:** Standard Chartered Bank, Indonesia Branch

- **ii. LEI, if any:** 254900XJQ7BKPSDXNP74

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 25**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation, Seoul

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 26**

- **i. Full name:** HSBC Bank (Taiwan) Limited

- **ii. LEI, if any:** 549300SG184IVNYDMN03

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 27**

- **i. Full name:** Clearstream Banking S.A. (Luxembourg)

- **ii. LEI, if any:** 549300OL514RA0SXJJ44

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 28**

- **i. Full name:** The Bank of New York Mellon, SA/NV (Netherlands)

- **ii. LEI, if any:** MMYX0N4ZEZ13Z4XCG897

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 29**

- **i. Full name:** The Hongkong and Shanghai Banking Corporation Limited

- **ii. LEI, if any:** 2HI3YI5320L3RW6NJ957

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 30**

- **i. Full name:** The Bank of New York Mellon SA/NV (Denmark)

- **ii. LEI, if any:** 213800CVKXXSWKFDC848

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 31**

- **i. Full name:** Standard Chartered Bank, Philippines Branch

- **ii. LEI, if any:** RILFO74KP1CM8P6PCT96

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 32**

- **i. Full name:** THE STANDARD BANK OF SOUTH AFRICA

- **ii. LEI, if any:** QFC8ZCW3Q5PRXU1XTM60

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 33**

- **i. Full name:** CACEIS BANK SPAIN S.A.

- **ii. LEI, if any:** 95980020140005970915

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 34**

- **i. Full name:** STANDARD CHARTERED BANK (SINGAPORE) LIMITED

- **ii. LEI, if any:** 549300MDYVVHJ8D1DW28

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

**Custodians Record: 35**

- **i. Full name:** CIBC Mellon Trust Company

- **ii. LEI, if any:** 549300IYUUH221WBZ505

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **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:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $32,332.00

**Brokers Record: 2**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,857.00

**Brokers Record: 3**

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

- **ii. SEC file number:** 008-15255

- **iii. CRD number:** 000004297

- **iv. LEI, if any:** OXTKY6Q8X53C9ILVV871

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $17,512.00

**Brokers Record: 4**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $14,133.00

**Brokers Record: 5**

- **i. Full name of broker:** WILLIAM BLAIR & COMPANY, L.L.C.

- **ii. SEC file number:** 008-02698

- **iii. CRD number:** 000001252

- **iv. LEI, if any:** 549300J0P7XYE8BMZ775

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $17,838.00

**Brokers Record: 6**

- **i. Full name of broker:** EVERCORE GROUP L.L.C.

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,004.00

**Brokers Record: 7**

- **i. Full name of broker:** JONESTRADING

- **ii. SEC file number:** 008-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,701.00

**Brokers Record: 8**

- **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:** $9,056.00

**Brokers Record: 9**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,329.00

**Brokers Record: 10**

- **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:** $28,582.00

**Aggregate Commission:** $262,253.00

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $334,676,743.57

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

- **v. Did the Fund draw on the line of credit this period?** —

- **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: 10 - Virtus Silvant Large-Cap Growth Stock Fund

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

- **a. Full Name of the Fund:** Virtus Silvant Large-Cap Growth Stock Fund

- **b. Series identification number, if any:** S000057037

- **c. LEI:** 549300HQWTPU2SXNW537

- **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?:** 3

- **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 R6                | C000181212                                | STCZX                        |
|                           2 | Class I                 | C000181211                                | STCAX                        |
|                           3 | Class A                 | C000181209                                | STCIX                        |

**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'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

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

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

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $104,189.85

- **g. Provide the net income from securities lending activities:** $354.41

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

Did the Fund rely on the following rules?

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

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

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

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

- Rule 32a-4 (17 CFR 270.32a-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?** No

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Silvant Capital Management LLC

- **ii. SEC file number:** 801-68741

- **iii. CRD number:** 000146025

- **iv. LEI, if any:** 549300E0RSKF6HZZI673

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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: 4**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

- **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:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $679.00

**Brokers Record: 2**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $479.00

**Brokers Record: 3**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $609.00

**Brokers Record: 4**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $884.00

**Brokers Record: 5**

- **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:** $796.00

**Brokers Record: 6**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INC.

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $520.00

**Brokers Record: 7**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,674.00

**Brokers Record: 8**

- **i. Full name of broker:** EVERCORE GROUP LLC

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $967.00

**Brokers Record: 9**

- **i. Full name of broker:** STIFEL FINANCIAL CORP.

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

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

- **iv. LEI, if any:** 549300E5F07FE5GHJX84

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,039.00

**Brokers Record: 10**

- **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:** $548.00

**Aggregate Commission:** $9,885.00

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $232,069,997.35

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

- **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: 11 - Virtus Ceredex Small-Cap Value Equity Fund

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

- **a. Full Name of the Fund:** Virtus Ceredex Small-Cap Value Equity Fund

- **b. Series identification number, if any:** S000057041

- **c. LEI:** 54930068N867YSPRX748

- **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 I                 | C000181228                                | SCETX                        |
|                           2 | Class C                 | C000181227                                | STCEX                        |
|                           3 | Class A                 | C000181226                                | SASVX                        |
|                           4 | Class R6                | C000211610                                | VVERX                        |

**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?** No

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

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

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

- Rule 22d-1 (17 CFR 270.22d-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?** Yes

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

**Investment Advisers Record: 1**

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

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Ceredex Value Advisors LLC

- **ii. SEC file number:** 801-68739

- **iii. CRD number:** 000014023

- **iv. LEI, if any:** 549300XJ44OJZRRKLX83

- **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:** 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

**Transfer Agents Record: 2**

- **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

- **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:** Bloomberg Finance L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 4**

- **i. Full name:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** ROBERT W. BAIRD & CO. INC.

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,083.00

**Brokers Record: 2**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,635.00

**Brokers Record: 3**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,104.00

**Brokers Record: 4**

- **i. Full name of broker:** KEYBANC CAPITAL MARKETS, INC.

- **ii. SEC file number:** 008-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,438.00

**Brokers Record: 5**

- **i. Full name of broker:** EVERCORE GROUP LLC

- **ii. SEC file number:** 008-49830

- **iii. CRD number:** 000042405

- **iv. LEI, if any:** 5493008F0LRLS5N8LZ81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,616.00

**Brokers Record: 6**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,616.00

**Brokers Record: 7**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,334.00

**Brokers Record: 8**

- **i. Full name of broker:** LUMINEX TRADING & ANALYTICS LLC

- **ii. SEC file number:** 008-69476

- **iii. CRD number:** 000171752

- **iv. LEI, if any:** 254900ZBK50B4Y36MJ33

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,192.00

**Brokers Record: 9**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,153.00

**Brokers Record: 10**

- **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:** $5,415.00

**Aggregate Commission:** $84,881.00

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

| Name                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BOFA SECURITIES, INC.    | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $9,660.00                 |
| MORGAN STANLEY & CO. LLC | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $266,400.00               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $276,060.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $96,046,376.09

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

- **v. Did the Fund draw on the line of credit this period?** —

- **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: 12 - Virtus Seix Floating Rate High Income Fund

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

- **a. Full Name of the Fund:** Virtus Seix Floating Rate High Income Fund

- **b. Series identification number, if any:** S000057046

- **c. LEI:** 549300RKGX6P36UJVL84

- **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 I                 | C000181249                                | SAMBX                        |
|                           2 | Class C                 | C000181248                                | SFRCX                        |
|                           3 | Class R6                | C000181250                                | SFRZX                        |
|                           4 | Class A                 | C000181247                                | SFRAX                        |

**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?** No

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

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

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

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

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

- 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 Investment Advisers, LLC

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 4**

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

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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:** Euroclear Bank

- **ii. LEI, if any:** 549300CBNW05DILT6870

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)

**Custodians Record: 2**

- **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))

**Custodians Record: 3**

- **i. Full name:** The Bank of New York Mellon (United Kingdom)

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

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

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

- **vii. With respect to the custodian, check below to indicate the type of custody:** Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)

- **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.**

No Brokers reported.

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

| Name                             | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Santander US Capital Markets LLC | 008-68282         |    000150696 | 549300LGG2RLWD21SU97 | NY      | US        | $30,524,909.00            |
| BARCLAYS CAPITAL, INC.           | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $91,752,718.00            |
| J.P. Morgan Securities LLC       | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $243,466,578.00           |
| CitiGroup Global Markets Inc.    | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $65,014,196.00            |
| MORGAN STANLEY & CO. LLC         | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $182,663,648.00           |
| JEFFERIES LLC                    | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $60,714,953.00            |
| BOFA SECURITIES, INC.            | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $157,389,848.00           |
| WELLS FARGO SECURITIES, LLC      | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $65,756,740.00            |
| GOLDMAN SACHS & CO. LLC          | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $119,707,683.00           |
| TD SECURITIES (USA) LLC          | 008-36747         |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $35,410,176.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,239,456,934.00

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

- **Item C.19.a - Fund's monthly average net assets:** $1,355,074,637.89

**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?** $100,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** 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 Seix Senior Loan ETF | 811-22819         |

- **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: 13 - Virtus Seix Investment Grade Tax-Exempt Bond Fund

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

- **a. Full Name of the Fund:** Virtus Seix Investment Grade Tax-Exempt Bond Fund

- **b. Series identification number, if any:** S000057026

- **c. LEI:** 549300LNKCL4VRVSKI97

- **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?:** 2

- **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                 | C000181173                                | SISIX                        |
|                           2 | Class I                 | C000181174                                | STTBX                        |

**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?** No

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

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

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

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

- Rule 22d-1 (17 CFR 270.22d-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 Investment Advisers, LLC

- **ii. SEC file number:** 801-5995

- **iii. CRD number:** 000106982

- **iv. LEI, if any:** 5493008GM1PP47SEXR11

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

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

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

**Sub-adviser Record: 1**

- **i. Full name:** Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC

- **ii. SEC file number:** 801-68743

- **iii. CRD number:** 000146029

- **iv. LEI, if any:** 549300L7I4W19C7JV575

- **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:** JPMorgan Chase & Co.

- **ii. LEI, if any, or provide and describe other identifying number:** 8I5DZWZKVSZI1NUHU748

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300HLPTRASHS0E726

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

**Pricing Services Record: 3**

- **i. Full name:** Intercontinental Exchange, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000F4ZO33MV32P92

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

- **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: 4**

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

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001KJTIIGC8Y1R12

- **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.**

No Brokers reported.

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

| Name                             | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| WELLS FARGO SECURITIES, LLC      | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $918,350.00               |
| NATIONAL FINANCIAL SERVICES LLC  | 008-26740         |    000013041 | 549300JRHF1MHHWUAW04 | MA      | US        | $3,297,337.00             |
| BOFA SECURITIES, INC.            | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $9,080,025.00             |
| BARCLAYS CAPITAL, INC.           | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $3,541,253.00             |
| RAYMOND JAMES & ASSOCIATES, INC. | 008-10999         |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $21,261,314.00            |
| PERSHING LLC                     | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $59,721,104.00            |
| RBC CAPITAL MARKETS, LLC         | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $7,900,163.00             |
| J.P. Morgan Securities LLC       | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $3,859,784.00             |
| MORGAN STANLEY & CO. LLC         | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $3,110,911.00             |
| JEFFERIES LLC                    | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $542,575.00               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $113,232,814.00

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

- **Item C.19.a - Fund's monthly average net assets:** $120,601,865.60

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

## 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 Asset Trust

**Date:** 2026-03-13

**Signature:** Benjamin Lowe

**Title:** Vice President