# EDGAR Filing Document

**Accession Number:** 0001589756
**File Stem:** 0001752724-23-063472
**Filing Date:** 2023-3
**Character Count:** 31751
**Document Hash:** eff33ba822ed002935e0cbf4de320d94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-063472.hdr.sgml**: 20230322

**ACCESSION NUMBER**: 0001752724-23-063472

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230322

**DATE AS OF CHANGE**: 20230322

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS ALTERNATIVE SOLUTIONS TRUST
- **CENTRAL INDEX KEY:** 0001589756
- **IRS NUMBER:** 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:** 23752372

**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 KAR Long/Short Equity Fund (Series ID: S000063645)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000206130 | Class R6     | VLSRX           |
| C000206132 | Class A      | VLSAX           |
| C000206133 | Class C      | VLSCX           |
| C000206134 | Class I      | VLSIX           |

## Nport-Ex

#### VIRTUS KAR Long/Short Equity Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### January 31, 2023
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks—92.5%** | **Common Stocks—92.5%** | **Common Stocks—92.5%** |
| **Communication Services—7.5%** | **Communication Services—7.5%** |  |
| Alphabet, Inc. Class C<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;34624 | $3458 |
| MediaAlpha, Inc. Class A<sup>(1)</sup> | 150655 | &nbsp;&nbsp; 2102 |
| Trade Desk, Inc. (The) Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;47240 | &nbsp;&nbsp; 2395 |
|  |  | &nbsp;&nbsp; 7955 |
| **Consumer Discretionary—7.2%** | **Consumer Discretionary—7.2%** |  |
| Home Depot, Inc. (The)<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;11028 | &nbsp;&nbsp; 3575 |
| Pool Corp.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;10619 | &nbsp;&nbsp; 4095 |
|  |  | &nbsp;&nbsp; 7670 |
| **Consumer Staples—7.5%** | **Consumer Staples—7.5%** |  |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47890 | &nbsp;&nbsp; 4784 |
| Monster Beverage Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;30437 | &nbsp;&nbsp; 3168 |
|  |  | &nbsp;&nbsp; 7952 |
| **Financials—19.4%** | **Financials—19.4%** |  |
| Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34817 | &nbsp;&nbsp; 2663 |
| Berkley (W.R.) Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34410 | &nbsp;&nbsp; 2414 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9397 | &nbsp;&nbsp; 2228 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13555 | &nbsp;&nbsp; 4375 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35613 | &nbsp;&nbsp; 5760 |
| Ryan Specialty Holdings, Inc. Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;73799 | &nbsp;&nbsp; 3145 |
|  |  | &nbsp;&nbsp; 20585 |
| **Health Care—8.6%** | **Health Care—8.6%** |  |
| Cooper Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;9616 | &nbsp;&nbsp; 3355 |
| Silk Road Medical, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;55470 | &nbsp;&nbsp; 3016 |
| Zoetis, Inc. Class A<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16388 | &nbsp;&nbsp; 2712 |
|  |  | &nbsp;&nbsp; 9083 |
| **Industrials—11.4%** | **Industrials—11.4%** |  |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10102 | &nbsp;&nbsp; 2633 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11173 | &nbsp;&nbsp; 3723 |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;37925 | &nbsp;&nbsp; 2721 |
| Verisk Analytics, Inc. Class A<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16611 | &nbsp;&nbsp; 3020 |
|  |  | &nbsp;&nbsp; 12097 |
| **Information Technology—25.1%** | **Information Technology—25.1%** |  |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16812 | &nbsp;&nbsp; 3296 |
| Clearwater Analytics Holdings, Inc. Class A <sup>(1)</sup> | 196278 | &nbsp;&nbsp; 3843 |
| EVERTEC, Inc. | 167124 | &nbsp;&nbsp; 6173 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8281 | &nbsp;&nbsp; 3500 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology—continued** | **Information Technology—continued** |  |
| Jack Henry & Associates, Inc.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16675 | $3003 |
| nCino, Inc.<sup>(1)</sup> | 121491 | &nbsp;&nbsp;&nbsp; 3475 |
| Visa, Inc. Class A<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14419 | &nbsp;&nbsp;&nbsp; 3319 |
|  |  | &nbsp;&nbsp;&nbsp; 26609 |
| **Materials—2.2%** | **Materials—2.2%** |  |
| Scotts Miracle-Gro Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;32158 | &nbsp;&nbsp;&nbsp; 2321 |
| **Real Estate—3.6%** | **Real Estate—3.6%** |  |
| Lamar Advertising Co. Class A | &nbsp;&nbsp;&nbsp;&nbsp;36332 | &nbsp;&nbsp;&nbsp; 3871 |
| **Total Common Stocks<br> (Identified Cost $78,835)** | **Total Common Stocks<br> (Identified Cost $78,835)** | &nbsp;&nbsp;&nbsp;&nbsp; **98143** |
| **Total Long-Term Investments—92.5%<br> (Identified Cost $78,835)** | **Total Long-Term Investments—92.5%<br> (Identified Cost $78,835)** | &nbsp;&nbsp;&nbsp;&nbsp; **98143** |
| **Short-Term Investment—0.6%** | **Short-Term Investment—0.6%** | **Short-Term Investment—0.6%** |
| **Money Market Mutual Fund—0.6%** | **Money Market Mutual Fund—0.6%** | **Money Market Mutual Fund—0.6%** |
| Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 4.227%)<sup>(3)</sup> | 656211 | &nbsp;&nbsp;&nbsp; 656 |
| **Total Short-Term Investment<br> (Identified Cost $656)** | **Total Short-Term Investment<br> (Identified Cost $656)** | &nbsp;&nbsp;&nbsp;&nbsp; **656** |
| **TOTAL INVESTMENTS, BEFORE SECURITIES SOLD SHORT—93.1%<br> (Identified Cost $79,491)** | **TOTAL INVESTMENTS, BEFORE SECURITIES SOLD SHORT—93.1%<br> (Identified Cost $79,491)** | &nbsp;&nbsp;&nbsp;&nbsp; **98799** |
| **Securities Sold Short<sup>(4)</sup>—(23.1)%** | **Securities Sold Short<sup>(4)</sup>—(23.1)%** | **Securities Sold Short<sup>(4)</sup>—(23.1)%** |
| **Consumer Discretionary—(6.8)%** | **Consumer Discretionary—(6.8)%** |  |
| Boot Barn Holdings, Inc.<sup>(5)</sup> | (21085) | &nbsp;&nbsp;&nbsp; (1761) |
| H&R Block, Inc. | (74278) | &nbsp;&nbsp;&nbsp; (2895) |
| ODP Corp. (The)<sup>(5)</sup> | (41379) | &nbsp;&nbsp;&nbsp; (2135) |
| Snap One Holdings Corp.<sup>(5)</sup> | (49446) | &nbsp;&nbsp;&nbsp; (474) |
|  |  | &nbsp;&nbsp;&nbsp; (7265) |
| **Consumer Staples—(1.6)%** | **Consumer Staples—(1.6)%** |  |
| Central Garden & Pet Co. Class A<sup>(5)</sup> | (43531) | &nbsp;&nbsp;&nbsp; (1725) |
| **Financials—(1.4)%** | **Financials—(1.4)%** |  |
| Focus Financial Partners, Inc. Class A<sup>(5)</sup> | (33895) | &nbsp;&nbsp;&nbsp; (1530) |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials—(7.8)%** | **Industrials—(7.8)%** |  |
| ACCO Brands Corp. | (208852) | $(1326) |
| Allison Transmission Holdings, Inc. | (45520) | &nbsp;&nbsp;&nbsp; (2052) |
| ArcBest Corp. | (20499) | &nbsp;&nbsp;&nbsp; (1711) |
| Deluxe Corp. | (76871) | &nbsp;&nbsp;&nbsp; (1537) |
| Werner Enterprises, Inc. | (34393) | &nbsp;&nbsp;&nbsp; (1615) |
|  |  | &nbsp;&nbsp;&nbsp; (8241) |
| **Information Technology—(1.9)%** | **Information Technology—(1.9)%** |  |
| Adeia, Inc. | (103263) | &nbsp;&nbsp;&nbsp; (1131) |
| Xperi, Inc.<sup>(5)</sup> | (80876) | &nbsp;&nbsp;&nbsp; (837) |
|  |  | &nbsp;&nbsp;&nbsp; (1968) |
| **Real Estate—(3.6)%** | **Real Estate—(3.6)%** |  |
| Compass, Inc. Class A<sup>(5)</sup> | (563767) | &nbsp;&nbsp;&nbsp; (2266) |
| Retail Opportunity Investments Corp. | (98974) | &nbsp;&nbsp;&nbsp; (1567) |
|  |  | &nbsp;&nbsp;&nbsp; (3833) |
| **Total Securities Sold Short<br> (Proceeds $(24651))** | **Total Securities Sold Short<br> (Proceeds $(24651))** | &nbsp;&nbsp;&nbsp;&nbsp;**(24562)** |
| **TOTAL INVESTMENTS, NET OF SECURITIES SOLD SHORT—70.0%<br> (Identified Cost $54,840)** | **TOTAL INVESTMENTS, NET OF SECURITIES SOLD SHORT—70.0%<br> (Identified Cost $54,840)** | &nbsp;&nbsp; **$74237** |
| Other assets and liabilities, net—30.0% | Other assets and liabilities, net—30.0% | &nbsp;&nbsp;&nbsp;&nbsp; 31827 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$106064** |

---

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> | Non-income producing. |
| <sup>(2)</sup> | All or portion segregated as collateral for securities sold short. The value of securities segregated as collateral is $16,002. |
| <sup>(3)</sup> | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |
| <sup>(4)</sup> | The Fund is contractually responsible to the lender for any dividends payable and interest accrued on securities while those securities are in a short position. These dividends and interest are recorded as an expense of the Fund. |
| <sup>(5)</sup> | No dividend expense on security sold short. |

---

See Notes to Schedule of Investments

------

#### VIRTUS KAR Long/Short Equity Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### January 31, 2023
($ reported in thousands)

The following table summarizes the value of the Fund's investments as of January 31, 2023, 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> January 31, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1<br> Quoted Prices |
| Assets: |  |  |
| Equity Securities: |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$98143 |
| Money Market Mutual Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 |
| Total Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98799 |
| Liabilities: |  |  |
| Securities Sold Short: |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562) |
| Total Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24562) |
| Total Investments, Net of Securities Sold Short | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$74237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$74237 |

---

There were no securities valued using significant observable inputs (Level 2) or significant unobservable inputs (Level 3) at January 31, 2023.

There were no transfers into or out of Level 3 related to securities held at January 31, 2023.

See Notes to Schedule of Investments

------

#### VIRTUS KAR LONG/SHORT EQUITY FUND

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

#### January 31, 2023

#### Note 1. Security Valuation
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 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 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 report.

## 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:** 860-263-4790

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

- **a. Name of Series:** Virtus KAR Long/Short Equity Fund

- **b. EDGAR series identifier (if any):** S000063645

- **c. LEI of Series:** 549300KIW1RZLEY7GS19

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $130818789.43

**Total Liabilities:** $24662828.61

**Net Assets:** $106155960.82

**Cash Not Reported:** $23753860.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000206132 | -3.30%               | -7.59%               | 0.48%                |
| Class ID C000206134 | 2.31%                | -2.18%               | 6.32%                |
| Class ID C000206130 | 2.30%                | -2.18%               | 6.37%                |
| Class ID C000206133 | 1.21%                | -3.21%               | 5.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $425664.37               | $1753618.64                                |
| Month 2  | $2181623.59              | $-4469671.36                               |
| Month 3  | $567935.32               | $5467812.24                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ArcBest Corp                       | ArcBest Corp                        | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Short            | EC               | CORP              | US        |    -20499 | NS      | $-1710641.55  | -1.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Scotts Miracle-Gro Co/The          | Scotts Miracle-Gro Co/The           | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |     32158 | NS      | $2321486.02   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc             | Werner Enterprises Inc              | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Short            | EC               | CORP              | US        |    -34393 | NS      | $-1615439.21  | -1.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc           | Lamb Weston Holdings Inc            | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     47890 | NS      | $4783732.10   | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                 | Trade Desk Inc/The                  | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     47240 | NS      | $2395068.00   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| nCino Inc                          | nCino Inc                           | CUSIP: 63947X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121491 | NS      | $3474642.60   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                         | TransUnion                          | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     37925 | NS      | $2721118.75   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC Inc                        | EVERTEC Inc                         | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    167124 | NS      | $6173560.56   | 5.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc                        | Compass Inc                         | CUSIP: 20464U100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -563767 | NS      | $-2266343.34  | -2.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Xperi Inc                          | Xperi Inc                           | CUSIP: 98423J101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -80876 | NS      | $-837066.60   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| ODP Corp/The                       | ODP Corp/The                        | CUSIP: 88337F105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -41379 | NS      | $-2135156.40  | -2.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Silk Road Medical Inc              | Silk Road Medical Inc               | CUSIP: 82710M100<br>LEI: 549300VL8KC0ZPDQHE14 | Long             | EC               | CORP              | US        |     55470 | NS      | $3015349.20   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc           | Lennox International Inc            | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |     10102 | NS      | $2632783.24   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap One Holdings Corp             | Snap One Holdings Corp              | CUSIP: 83303Y105<br>LEI: 254900UH1TKVPR8FDW43 | Short            | EC               | CORP              | US        |    -49446 | NS      | $-474187.14   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc         | LPL Financial Holdings Inc          | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      9397 | NS      | $2228216.64   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp                | Bank of Hawaii Corp                 | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     34817 | NS      | $2663152.33   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Deluxe Corp                        | Deluxe Corp                         | CUSIP: 248019101<br>LEI: KWGNKB8TX9LE5TV29231 | Short            | EC               | CORP              | US        |    -76871 | NS      | $-1536651.29  | -1.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                           | Visa Inc                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     14419 | NS      | $3319397.99   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                         | Intuit Inc                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      8281 | NS      | $3500130.27   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings      | Clearwater Analytics Holdings Inc   | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    196278 | NS      | $3843123.24   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                      | H&R Block Inc                       | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Short            | EC               | CORP              | US        |    -74278 | NS      | $-2895356.44  | -2.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings      | Allison Transmission Holdings Inc   | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Short            | EC               | CORP              | US        |    -45520 | NS      | $-2052041.60  | -1.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                       | Alphabet Inc                        | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     34624 | NS      | $3457898.88   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc             | Boot Barn Holdings Inc              | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Short            | EC               | CORP              | US        |    -21085 | NS      | $-1760386.65  | -1.66%            |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corp                   | ACCO Brands Corp                    | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Short            | EC               | CORP              | US        |   -208852 | NS      | $-1326210.20  | -1.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc        | Ryan Specialty Holdings Inc         | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73799 | NS      | $3145313.38   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co            | Central Garden & Pet Co             | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Short            | EC               | CORP              | US        |    -43531 | NS      | $-1725133.53  | -1.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Primerica Inc                      | Primerica Inc                       | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     35613 | NS      | $5760402.75   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Focus Financial Partners Inc       | Focus Financial Partners Inc        | CUSIP: 34417P100<br>LEI: 5493006FFJCGLZ246V12 | Short            | EC               | CORP              | US        |    -33895 | NS      | $-1530359.25  | -1.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc               | Verisk Analytics Inc                | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     16611 | NS      | $3019713.69   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp              | Monster Beverage Corp               | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     30437 | NS      | $3167882.96   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                 | Home Depot Inc/The                  | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     11028 | NS      | $3574946.76   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaAlpha Inc                     | MediaAlpha Inc                      | CUSIP: 58450V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150655 | NS      | $2101637.25   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack Henry & Associates Inc        | Jack Henry & Associates Inc         | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     16675 | NS      | $3003000.75   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                        | CDW Corp/DE                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     16812 | NS      | $3295656.36   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                 | Cooper Cos Inc/The                  | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      9616 | NS      | $3355310.88   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                         | Zoetis Inc                          | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     16388 | NS      | $2712050.12   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                   | W R Berkley Corp                    | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     34410 | NS      | $2413517.40   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Retail Opportunity Investments     | Retail Opportunity Investments Corp | CUSIP: 76131N101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -98974 | NS      | $-1566758.42  | -1.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc      | Old Dominion Freight Line Inc       | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     11173 | NS      | $3723290.52   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co               | Lamar Advertising Co                | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     36332 | NS      | $3870811.28   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                          | Pool Corp                           | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     10619 | NS      | $4094792.59   | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                       | Moody's Corp                        | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     13555 | NS      | $4374876.25   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management  | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   1886439 | NS      | $1886439.42   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                          | Adeia Inc                           | CUSIP: 00676P107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -103263 | NS      | $-1130729.85  | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-17

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

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer