# EDGAR Filing Document

**Accession Number:** 0001589756
**File Stem:** 0000940400-25-002040
**Filing Date:** 2025-9
**Character Count:** 20599
**Document Hash:** 49d992d10ad2953b77dc8098322b98f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002040.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0000940400-25-002040

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22906
- **FILM NUMBER:** 251334284

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 860.263.4790

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

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

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

## Series and Classes Contracts Data

### Virtus Duff & Phelps Select MLP and Energy Fund (Series ID: S000050625)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000159801 | Class A      | VLPAX           |
| C000159802 | Class C      | VLPCX           |
| C000159803 | Class I      | VLPIX           |

## Nport-Ex

#### VIRTUS Duff & Phelps Select MLP and Energy Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### July 31, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & MLP Interests—99.6%** | **Common Stocks & MLP Interests—99.6%** | **Common Stocks & MLP Interests—99.6%** |
| **Diversified—38.6%** | **Diversified—38.6%** |  |
| Energy Transfer LP | 198836 | $3587 |
| Enterprise Products Partners LP | 62340 | &nbsp;&nbsp; 1932 |
| Keyera Corp. | 35885 | &nbsp;&nbsp; 1127 |
| Kinder Morgan, Inc. | 85753 | &nbsp;&nbsp; 2406 |
| MPLX LP | 47885 | &nbsp;&nbsp; 2514 |
| ONEOK, Inc. | 27265 | &nbsp;&nbsp; 2239 |
| Pembina Pipeline Corp. | 51342 | &nbsp;&nbsp; 1909 |
| Targa Resources Corp. | 24249 | &nbsp;&nbsp; 4035 |
|  |  | &nbsp;&nbsp;19749 |
| **Downstream/Other—6.0%** | **Downstream/Other—6.0%** |  |
| Kodiak Gas Services, Inc. | 40219 | &nbsp;&nbsp; 1301 |
| Sunoco LP | 21861 | &nbsp;&nbsp; 1209 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4109 | &nbsp;&nbsp; 564 |
|  |  | &nbsp;&nbsp; 3074 |
| **Electric, LDC & Power—13.4%** | **Electric, LDC & Power—13.4%** |  |
| Alliant Energy Corp. | 21240 | &nbsp;&nbsp; 1381 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7162 | &nbsp;&nbsp; 648 |
| NextEra Energy, Inc. | 18875 | &nbsp;&nbsp; 1341 |
| NiSource, Inc. | 34757 | &nbsp;&nbsp; 1475 |
| OGE Energy Corp. | 16340 | &nbsp;&nbsp; 742 |
| Sempra | 15596 | &nbsp;&nbsp; 1274 |
|  |  | &nbsp;&nbsp; 6861 |
| **Gathering/Processing—1.5%** | **Gathering/Processing—1.5%** |  |
| Kinetik Holdings, Inc. Class A | 18203 | &nbsp;&nbsp; 790 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Liquefied Natural Gas—11.3%** | **Liquefied Natural Gas—11.3%** |  |
| Cheniere Energy, Inc. | 20818 | $4910 |
| Golar LNG Ltd. | 20455 | &nbsp;&nbsp;&nbsp; 842 |
|  |  | &nbsp;&nbsp;&nbsp; 5752 |
| **Natural Gas Pipelines—21.2%** | **Natural Gas Pipelines—21.2%** |  |
| DT Midstream, Inc. | 35667 | &nbsp;&nbsp;&nbsp; 3664 |
| TC Energy Corp. | 69728 | &nbsp;&nbsp;&nbsp; 3339 |
| Williams Cos., Inc. (The) | 63576 | &nbsp;&nbsp;&nbsp; 3811 |
|  |  | &nbsp;&nbsp;&nbsp;10814 |
| **Petroleum Transportation &<br> Storage—7.6%** | **Petroleum Transportation &<br> Storage—7.6%** |  |
| Enbridge, Inc. | 42093 | &nbsp;&nbsp;&nbsp; 1906 |
| Gibson Energy, Inc. | 23895 | &nbsp;&nbsp;&nbsp; 431 |
| Plains GP Holdings LP Class A | 79395 | &nbsp;&nbsp;&nbsp; 1556 |
|  |  | &nbsp;&nbsp;&nbsp; 3893 |
| **Total Common Stocks & MLP Interests<br> (Identified Cost $39,713)** | **Total Common Stocks & MLP Interests<br> (Identified Cost $39,713)** | &nbsp;&nbsp;&nbsp;&nbsp;**50933** |
| **Total Long-Term Investments—99.6%<br> (Identified Cost $39,713)** | **Total Long-Term Investments—99.6%<br> (Identified Cost $39,713)** | &nbsp;&nbsp;&nbsp;&nbsp;**50933** |
| **TOTAL INVESTMENTS—99.6%<br> (Identified Cost $39,713)** | **TOTAL INVESTMENTS—99.6%<br> (Identified Cost $39,713)** | &nbsp;&nbsp;**$50933** |
| Other assets and liabilities, net—0.4% | Other assets and liabilities, net—0.4% | &nbsp;&nbsp;&nbsp;&nbsp; 203 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$51136** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| LP | Limited Partnership |
| MLP | Master Limited Partnership |

---

---

| | |
|:---|:---|
| **Country Weightings<sup>†</sup>** | **Country Weightings<sup>†</sup>** |
| United States | &nbsp;&nbsp;&nbsp;81% |
| Canada | &nbsp;&nbsp;17 |
| Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| Total | 100% |
| <sup>†</sup> % of total investments as of July 31, 2025. | <sup>†</sup> % of total investments as of July 31, 2025. |

---

The following table summarizes the value of the Fund's investments as of July 31, 2025, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total<br> Value at<br> July 31, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1<br> Quoted Prices |
| Assets: |  |  |
| Equity Securities: |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & MLP Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50933 |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50933 |

---

There were no securities valued using significant observable inputs (Level 2) or significant unobservable inputs (Level 3) at July 31, 2025.

There were no transfers into or out of Level 3 related to securities held at July 31, 2025.

See Notes to Schedule of Investments

------

#### VIRTUS DUFF & PHELPS SELECT MLP AND ENERGY FUND

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

#### July 31, 2025

#### Note 1. Security Valuation
The Fund's Board of Trustees has designated the investment adviser as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940. The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Fund's policy is to recognize transfers into or out of Level 3 at the end of the reporting period.

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

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

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

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

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

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

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus Alternative Solutions Trust

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

- **c. CIK number of Registrant:** 0001589756

- **d. LEI of Registrant:** 549300LL1U2Z63VKA167

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

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

  - **City:** Greenfield

  - **State:** MA

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Virtus Duff & Phelps Select MLP and Energy Fund

- **b. EDGAR series identifier (if any):** S000050625

- **c. LEI of Series:** 549300354BSE5KKY3735

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $51373717.93

**Total Liabilities:** $181970.22

**Net Assets:** $51191747.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159802 | 1.00%                | 2.47%                | -1.08%               |
| Class ID C000159803 | 1.06%                | 2.59%                | -1.02%               |
| Class ID C000159801 | 1.11%                | 2.51%                | -1.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $485990.78               | $17989.13                                  |
| Month 2  | $485168.04               | $751802.04                                 |
| Month 3  | $1050033.11              | $-1694707.92                               |

### Schedule of Portfolio Investments

| Name                           | Title                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Keyera Corp                    | Keyera Corp                     | CUSIP: 493271100<br>LEI: 254900LXI62FUHZGH122 | Long             | EC               | CORP              | CA        |     35885 | NS      | $1126585.96   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp            | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     24249 | NS      | $4035276.09   | 7.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK Inc                       | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     27265 | NS      | $2238729.15   | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                   | Enbridge Inc                    | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     42093 | NS      | $1906391.97   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp              | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      4109 | NS      | $564206.79    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services Inc        | Kodiak Gas Services Inc         | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40219 | NS      | $1300280.27   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35667 | NS      | $3664070.91   | 7.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                   | Entergy Corp                    | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      7162 | NS      | $647659.66    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP             | Energy Transfer LP              | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |    198836 | NS      | $3587001.44   | 7.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     18875 | NS      | $1341257.50   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibson Energy Inc              | Gibson Energy Inc               | CUSIP: 374825206<br>LEI: 549300WYW5D9I3FR0643 | Long             | EC               | CORP              | CA        |     23895 | NS      | $430786.01    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc             | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     20818 | NS      | $4910549.84   | 9.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp          | Pembina Pipeline Corp           | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |     51342 | NS      | $1909408.98   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                 | TC Energy Corp                  | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     69728 | NS      | $3338576.64   | 6.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                         | Sempra                          | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     15596 | NS      | $1273881.28   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp            | Alliant Energy Corp             | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     21240 | NS      | $1380812.40   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan Inc               | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     85753 | NS      | $2406229.18   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                        | MPLX LP                         | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |     47885 | NS      | $2513962.50   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Cos Inc/The            | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     63576 | NS      | $3811381.20   | 7.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Ltd                  | Golar LNG Ltd                   | CUSIP: 000000000<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |     20455 | NS      | $841927.80    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                   | NiSource Inc                    | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     34757 | NS      | $1475434.65   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp                 | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     16340 | NS      | $742162.80    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP          | Plains GP Holdings LP           | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |     79395 | NS      | $1556142.00   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings Inc           | Kinetik Holdings Inc            | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18203 | NS      | $789646.14    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L | Enterprise Products Partners LP | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     62340 | NS      | $1931916.60   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunoco LP                      | Sunoco LP                       | CUSIP: 86765K109<br>LEI: 54930001NJU8E40NQ561 | Long             | EC               | CORP              | US        |     21861 | NS      | $1209131.91   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-18

**Name of Applicant:** Virtus Alternative Solutions Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer