# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0001752724-25-203828
**Filing Date:** 2025-8
**Character Count:** 25729
**Document Hash:** c480e30be8869407beb29358e98d9ae3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203828.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203828

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS OPPORTUNITIES TRUST
- **CENTRAL INDEX KEY:** 0001005020

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07455
- **FILM NUMBER:** 251253594

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 800-243-1574

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 20060127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX SENECA FUNDS
- **DATE OF NAME CHANGE:** 19990122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SENECA FUNDS
- **DATE OF NAME CHANGE:** 19951218

## Series and Classes Contracts Data

### Virtus Duff & Phelps Real Estate Securities Fund (Series ID: S000018002)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000049901 | Class A      | PHRAX           |
| C000049903 | Class C      | PHRCX           |
| C000049904 | Class I      | PHRIX           |
| C000148854 | Class R6     | VRREX           |

## Nport-Ex

#### VIRTUS Duff & Phelps Real Estate Securities Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks—99.1%** | **Common Stocks—99.1%** | **Common Stocks—99.1%** |
| **Real Estate Investment Trusts—99.1%** | **Real Estate Investment Trusts—99.1%** |  |
| **Data Centers—13.2%** | **Data Centers—13.2%** |  |
| Digital Realty Trust, Inc. | 115745 | $20178 |
| Equinix, Inc. | 33511 | &nbsp;&nbsp; 26657 |
|  |  | &nbsp;&nbsp; 46835 |
| **Gaming—3.8%** | **Gaming—3.8%** |  |
| Gaming & Leisure Properties, Inc. | 199820 | &nbsp;&nbsp; 9328 |
| VICI Properties, Inc. Class A | 127930 | &nbsp;&nbsp; 4170 |
|  |  | &nbsp;&nbsp; 13498 |
| **Health Care—15.8%** | **Health Care—15.8%** |  |
| Sabra Health Care REIT, Inc. | 570005 | &nbsp;&nbsp; 10511 |
| Ventas, Inc. | 246160 | &nbsp;&nbsp; 15545 |
| Welltower, Inc. | 196180 | &nbsp;&nbsp; 30159 |
|  |  | &nbsp;&nbsp; 56215 |
| **Industrial/Office—16.0%** | **Industrial/Office—16.0%** |  |
| **Industrial—11.4%** | **Industrial—11.4%** |  |
| Americold Realty Trust, Inc. | 160300 | &nbsp;&nbsp; 2666 |
| Prologis, Inc. | 296741 | &nbsp;&nbsp; 31193 |
| Rexford Industrial Realty, Inc. | 186925 | &nbsp;&nbsp; 6649 |
|  |  | &nbsp;&nbsp; 40508 |
| **Office—4.6%** | **Office—4.6%** |  |
| BXP, Inc. | 99700 | &nbsp;&nbsp; 6727 |
| Cousins Properties, Inc. | 174596 | &nbsp;&nbsp; 5243 |
| Vornado Realty Trust | 121560 | &nbsp;&nbsp; 4648 |
|  |  | &nbsp;&nbsp; 16618 |
| Total Industrial/Office | Total Industrial/Office | &nbsp;&nbsp;&nbsp;&nbsp; 57126 |
| **Lodging/Resorts—3.0%** | **Lodging/Resorts—3.0%** |  |
| Host Hotels & Resorts, Inc. | 277144 | &nbsp;&nbsp; 4257 |
| Ryman Hospitality Properties, Inc. | 65257 | &nbsp;&nbsp; 6439 |
|  |  | &nbsp;&nbsp; 10696 |
| **Residential—17.3%** | **Residential—17.3%** |  |
| **Apartments—10.6%** | **Apartments—10.6%** |  |
| AvalonBay Communities, Inc. | 80840 | &nbsp;&nbsp; 16451 |
| Essex Property Trust, Inc. | 28700 | &nbsp;&nbsp; 8134 |
| Mid-America Apartment Communities, Inc. | 88690 | &nbsp;&nbsp; 13127 |
|  |  | &nbsp;&nbsp; 37712 |
| **Manufactured Homes—2.6%** | **Manufactured Homes—2.6%** |  |
| Equity LifeStyle Properties, Inc. | 149400 | &nbsp;&nbsp; 9213 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Single Family Homes—4.1%** | **Single Family Homes—4.1%** |  |
| American Homes 4 Rent Class A | 411200 | $14832 |
| Total Residential | Total Residential | &nbsp;&nbsp;&nbsp;&nbsp; 61757 |
| **Retail—14.0%** | **Retail—14.0%** |  |
| **Free Standing—4.7%** | **Free Standing—4.7%** |  |
| Agree Realty Corp. | 48050 | &nbsp;&nbsp;&nbsp; 3510 |
| Essential Properties Realty Trust, Inc. | 339850 | &nbsp;&nbsp;&nbsp; 10845 |
| Realty Income Corp. | 42904 | &nbsp;&nbsp;&nbsp; 2472 |
|  |  | &nbsp;&nbsp;&nbsp; 16827 |
| **Regional Malls—4.2%** | **Regional Malls—4.2%** |  |
| Simon Property Group, Inc. | 93266 | &nbsp;&nbsp;&nbsp; 14994 |
| **Shopping Centers—5.1%** | **Shopping Centers—5.1%** |  |
| Brixmor Property Group, Inc. | 383906 | &nbsp;&nbsp;&nbsp; 9997 |
| Kimco Realty Corp. | 114770 | &nbsp;&nbsp;&nbsp; 2412 |
| Phillips Edison & Co., Inc. | 158205 | &nbsp;&nbsp;&nbsp; 5542 |
|  |  | &nbsp;&nbsp;&nbsp; 17951 |
| Total Retail |  | &nbsp;&nbsp;&nbsp; 49772 |
| **Self Storage—8.0%** | **Self Storage—8.0%** |  |
| CubeSmart | 219814 | &nbsp;&nbsp;&nbsp; 9342 |
| Public Storage | 55265 | &nbsp;&nbsp;&nbsp; 16216 |
| Smartstop Self Storage REIT, Inc. | 79052 | &nbsp;&nbsp;&nbsp; 2864 |
|  |  | &nbsp;&nbsp;&nbsp; 28422 |
| **Specialty—6.2%** | **Specialty—6.2%** |  |
| Iron Mountain, Inc. | 169750 | &nbsp;&nbsp;&nbsp; 17411 |
| Lamar Advertising Co. Class A | 37200 | &nbsp;&nbsp;&nbsp; 4515 |
|  |  | &nbsp;&nbsp;&nbsp; 21926 |
| **Telecommunications—1.8%** | **Telecommunications—1.8%** |  |
| American Tower Corp. | 29330 | &nbsp;&nbsp;&nbsp; 6482 |
| **Total Common Stocks<br> (Identified Cost $235,066)** | **Total Common Stocks<br> (Identified Cost $235,066)** | &nbsp;&nbsp;&nbsp;&nbsp;**352729** |
| **Total Long-Term Investments—99.1%<br> (Identified Cost $235,066)** | **Total Long-Term Investments—99.1%<br> (Identified Cost $235,066)** | &nbsp;&nbsp;&nbsp;&nbsp;**352729** |
| **TOTAL INVESTMENTS—99.1%<br> (Identified Cost $235,066)** | **TOTAL INVESTMENTS—99.1%<br> (Identified Cost $235,066)** | &nbsp;&nbsp;**$352729** |
| Other assets and liabilities, net—0.9% | Other assets and liabilities, net—0.9% | &nbsp;&nbsp;&nbsp;&nbsp; 3318 |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$356047** |

---

---

| | |
|:---|:---|
| **Abbreviation:** | **Abbreviation:** |
| REIT | Real Estate Investment Trust |

---

See Notes to Schedule of Investments

------

#### VIRTUS Duff & Phelps Real Estate Securities Fund

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

#### June 30, 2025
($ reported in thousands)

The following table summarizes the value of the Fund's investments as of June 30, 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> June 30, 2025 | &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;$352729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$352729 |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$352729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$352729 |

---

There were no securities valued using significant observable inputs (Level 2) or significant unobservable inputs (Level 3) at June 30, 2025.

There were no transfers into or out of Level 3 related to securities held at June 30, 2025.

See Notes to Schedule of Investments

------

#### VIRTUS DUFF & PHELPS REAL ESTATE SECURITIES FUND

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

#### June 30, 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.

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

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 Opportunities Trust

- **b. Investment Company Act file number:** 811-07455

- **c. CIK number of Registrant:** 0001005020

- **d. LEI of Registrant:** 549300O4C4QVD88M4N75

- **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 Real Estate Securities Fund

- **b. EDGAR series identifier (if any):** S000018002

- **c. LEI of Series:** 549300VJ0KSMUN2BIG48

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $357573623.06

**Total Liabilities:** $1267410.58

**Net Assets:** $356306212.48

**Cash Not Reported:** $2742520.62

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000148854 | -1.60%               | 2.17%                | -0.90%               |
| Class ID C000049901 | -1.65%               | 2.12%                | -0.91%               |
| Class ID C000049903 | -1.71%               | 2.06%                | -0.99%               |
| Class ID C000049904 | -1.61%               | 2.13%                | -0.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1183552.79             | $-4861366.46                               |
| Month 2  | $-44574.40               | $7412768.33                                |
| Month 3  | $421844.50               | $-5694503.82                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Host Hotels & Resorts Inc      | Host Hotels & Resorts Inc             | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    277144 | NS      | $4256931.84   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I | Ryman Hospitality Properties Inc      | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     65257 | NS      | $6438908.19   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                     | Ventas Inc                            | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    246160 | NS      | $15545004.00  | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc      | AvalonBay Communities Inc             | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     80840 | NS      | $16450940.00  | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc            | VICI Properties Inc                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    127930 | NS      | $4170518.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                   | Prologis Inc                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    296741 | NS      | $31193413.92  | 8.75%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                        | BXP Inc                               | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     99700 | NS      | $6726759.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc         | Cousins Properties Inc                | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    174596 | NS      | $5243117.88   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc     | Brixmor Property Group Inc            | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    383906 | NS      | $9996912.24   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc       | Simon Property Group Inc              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     93266 | NS      | $14993442.16  | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust           | Vornado Realty Trust                  | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121560 | NS      | $4648454.40   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                         | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    196180 | NS      | $30158751.40  | 8.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     33511 | NS      | $26656995.17  | 7.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                             | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    219814 | NS      | $9342095.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc       | Phillips Edison & Co Inc              | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |    158205 | NS      | $5541921.15   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                        | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     55265 | NS      | $16215856.30  | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co           | Lamar Advertising Co                  | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     37200 | NS      | $4514592.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc     | Sabra Health Care REIT Inc            | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    570005 | NS      | $10510892.20  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc  | Rexford Industrial Realty Inc         | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    186925 | NS      | $6648922.25   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp              | Kimco Realty Corp                     | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    114770 | NS      | $2412465.40   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     42904 | NS      | $2471699.44   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communit | Mid-America Apartment Communities Inc | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     88690 | NS      | $13127006.90  | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc       | Essex Property Trust Inc              | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     28700 | NS      | $8133580.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT In | Smartstop Self Storage REIT Inc       | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     79052 | NS      | $2864053.96   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc       | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    149400 | NS      | $9213498.00   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc     | Americold Realty Trust Inc            | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |    160300 | NS      | $2665789.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                 | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    411200 | NS      | $14831984.00  | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                     | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |    169750 | NS      | $17411257.50  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr | Essential Properties Realty Trust Inc | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    339850 | NS      | $10844613.50  | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties  | Gaming and Leisure Properties Inc     | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |    199820 | NS      | $9327597.60   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp              | Agree Realty Corp                     | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48050 | NS      | $3510533.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     29330 | NS      | $6482516.60   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |    115745 | NS      | $20177825.85  | 5.66%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer