# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0000940400-26-015361
**Filing Date:** 2026-4
**Character Count:** 251855
**Document Hash:** cc226132438fc7a1f73438d97a16625a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-015361.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000940400-26-015361

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260227

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**PERIOD START**: 20260531

**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:** 26907903

**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 Stone Harbor Emerging Markets Debt Income Fund (Series ID: S000075278)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234176 | Class I      | SHMDX           |
| C000234177 | Class A      | VSHCX           |

## Nport-Ex

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited)**

**February 28, 2026**

($ reported in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Foreign Government Securities—73.8%** | **Foreign Government Securities—73.8%** | **Foreign Government Securities—73.8%** |
| **Angola—0.9%** | **Angola—0.9%** |  |
| Republic of Angola |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>8.000%, 11/26/29<sup>(2)</sup> <br>| $1214 | &nbsp;&nbsp; $1208 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.750%, 4/14/32<sup>(2)</sup> <br>| 191 | &nbsp;&nbsp; 187 |
| &nbsp;&nbsp;&nbsp; 144A <br>9.875%, 10/15/35<sup>(2)</sup> <br>| 1364 | &nbsp;&nbsp; 1389 |
| &nbsp;&nbsp;&nbsp; Republic of Angola Via Avenir Issuer II Ireland DAC <br> RegS <br>6.927%, 2/19/27<sup>(3)(4)</sup> <br>| 306 | &nbsp;&nbsp; 302 |
|  |  | &nbsp;&nbsp; 3086 |
| **Argentina—3.3%** | **Argentina—3.3%** |  |
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires RegS <br>6.625%, 9/1/37<sup>(4)(5)</sup> <br>| 2224 | &nbsp;&nbsp; 1756 |
| Republic of Argentina |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.750%, 7/9/30<sup>(5)</sup> <br>| 5423 | &nbsp;&nbsp; 4591 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%, 7/9/41<sup>(5)</sup> <br>| 2546 | &nbsp;&nbsp; 1779 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.125%, 7/9/46<sup>(5)</sup> <br>| 4825 | &nbsp;&nbsp; 3431 |
|  |  | &nbsp;&nbsp; 11557 |
| **Azerbaijan—0.2%** | **Azerbaijan—0.2%** |  |
| &nbsp;&nbsp;&nbsp; Republic of Azerbaijan RegS <br>3.500%, 9/1/32<sup>(4)</sup> <br>| 771 | &nbsp;&nbsp; 724 |
| **Bahrain—1.4%** | **Bahrain—1.4%** |  |
| &nbsp;&nbsp;&nbsp; Kingdom of Bahrain 144A <br>7.100%, 2/3/38<sup>(2)</sup> <br>| 4793 | &nbsp;&nbsp; 4812 |
| **Benin—0.2%** | **Benin—0.2%** |  |
| Benin Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>7.960%, 2/13/38<sup>(2)</sup> <br>| 434 | &nbsp;&nbsp; 455 |
| &nbsp;&nbsp;&nbsp; RegS <br>4.950%, 1/22/35<sup>(4)</sup> <br>| 362 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 403 |
|  |  | &nbsp;&nbsp; 858 |
| **Bermuda—0.6%** | **Bermuda—0.6%** |  |
| Government of Bermuda |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>4.750%, 2/15/29<sup>(2)</sup> <br>| 415 | &nbsp;&nbsp; 421 |
| &nbsp;&nbsp;&nbsp; RegS <br>3.375%, 8/20/50<sup>(4)</sup> <br>| 2571 | &nbsp;&nbsp; 1817 |
|  |  | &nbsp;&nbsp; 2238 |
| **Brazil—3.2%** | **Brazil—3.2%** |  |
| Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.875%, 6/12/30 | 959 | &nbsp;&nbsp; 925 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%, 11/6/30 | 1413 | &nbsp;&nbsp; 1455 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.000%, 10/20/33 | 2110 | &nbsp;&nbsp; 2157 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.125%, 3/15/34 | 395 | &nbsp;&nbsp; 405 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.625%, 3/15/35 | 4016 | &nbsp;&nbsp; 4217 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.250%, 5/22/36 | 1309 | &nbsp;&nbsp; 1321 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.125%, 5/13/54 | 192 | &nbsp;&nbsp; 196 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.250%, 1/12/56 | 643 | &nbsp;&nbsp; 653 |
|  |  | &nbsp;&nbsp; 11329 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Bulgaria—0.4%** | **Bulgaria—0.4%** |  |
| &nbsp;&nbsp;&nbsp; Bulgaria Government International Bond RegS <br>4.125%, 7/18/45<sup>(4)</sup> <br>| 1262 <br><sup>EUR</sup><br>| &nbsp;&nbsp; $1473 |
| **Chile—1.5%** | **Chile—1.5%** |  |
| Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.350%, 4/13/31 | $2485 | &nbsp;&nbsp; 2489 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.550%, 1/27/32 | 261 | &nbsp;&nbsp; 237 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%, 4/15/53 | 3253 | &nbsp;&nbsp; 2395 |
|  |  | &nbsp;&nbsp; 5121 |
| **Colombia—2.7%** | **Colombia—2.7%** |  |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.375%, 4/25/30 | 859 | &nbsp;&nbsp; 902 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.125%, 1/21/31 | 1170 | &nbsp;&nbsp; 1167 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.000%, 4/20/33 | 3639 | &nbsp;&nbsp; 3896 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.500%, 4/25/35 | 513 | &nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.000%, 11/14/35 | 2250 | &nbsp;&nbsp; 2401 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.750%, 11/14/53 | 525 | &nbsp;&nbsp; 577 |
|  |  | &nbsp;&nbsp; 9506 |
| **Costa Rica—0.9%** | **Costa Rica—0.9%** |  |
| Costa Rica Government |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.550%, 4/3/34<sup>(2)</sup> <br>| 555 | &nbsp;&nbsp; 602 |
| &nbsp;&nbsp;&nbsp; 144A <br>7.300%, 11/13/54<sup>(2)</sup> <br>| 1284 | &nbsp;&nbsp; 1467 |
| &nbsp;&nbsp;&nbsp; RegS <br>7.000%, 4/4/44<sup>(4)</sup> <br>| 864 | &nbsp;&nbsp; 959 |
|  |  | &nbsp;&nbsp; 3028 |
| **Dominican Republic—2.7%** | **Dominican Republic—2.7%** |  |
| Dominican Republic |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>5.875%, 10/28/35<sup>(2)</sup> <br>| 2689 | &nbsp;&nbsp; 2686 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.600%, 6/1/36<sup>(2)</sup> <br>| 2248 | &nbsp;&nbsp; 2365 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.950%, 3/15/37<sup>(2)</sup> <br>| 839 | &nbsp;&nbsp; 901 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.950%, 3/15/37<sup>(4)</sup> <br>| 3414 | &nbsp;&nbsp; 3666 |
|  |  | &nbsp;&nbsp; 9618 |
| **Ecuador—2.2%** | **Ecuador—2.2%** |  |
| &nbsp;&nbsp;&nbsp; Amazon Conservation DAC 144A <br>6.034%, 1/16/42<sup>(2)</sup> <br>| 2528 | &nbsp;&nbsp; 2635 |
| Republic of Ecuador |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>9.250%, 1/29/39<sup>(2)</sup> <br>| 1983 | &nbsp;&nbsp; 2017 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.900%, 7/31/35<sup>(4)(5)</sup> <br>| 2231 | &nbsp;&nbsp; 2024 |
| &nbsp;&nbsp;&nbsp; RegS <br>5.000%, 7/31/40<sup>(4)(5)</sup> <br>| 1201 | &nbsp;&nbsp; 980 |
|  |  | &nbsp;&nbsp; 7656 |
| **Egypt—2.7%** | **Egypt—2.7%** |  |
| Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>7.053%, 1/15/32<sup>(2)</sup> <br>| 1320 | &nbsp;&nbsp; 1329 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Egypt—continued** | **Egypt—continued** |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.875%, 4/30/40<sup>(2)</sup> <br>| $332 | &nbsp;&nbsp; $303 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.500%, 1/31/47<sup>(2)</sup> <br>| 349 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;&nbsp; 144A <br>7.903%, 2/21/48<sup>(2)</sup> <br>| 1609 | &nbsp;&nbsp; 1451 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.875%, 5/29/50<sup>(2)</sup> <br>| 1127 | &nbsp;&nbsp; 1102 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.750%, 9/30/51<sup>(2)</sup> <br>| 3641 | &nbsp;&nbsp; 3521 |
| &nbsp;&nbsp;&nbsp; RegS <br>8.700%, 3/1/49<sup>(4)</sup> <br>| 847 | &nbsp;&nbsp; 823 |
| &nbsp;&nbsp;&nbsp; RegS <br>7.500%, 2/16/61<sup>(4)</sup> <br>| 550 | &nbsp;&nbsp; 467 |
|  |  | &nbsp;&nbsp; 9329 |
| **El Salvador—1.3%** | **El Salvador—1.3%** |  |
| Republic of El Salvador |  |  |
| &nbsp;&nbsp;&nbsp; RegS <br>7.650%, 6/15/35<sup>(4)</sup> <br>| 3074 | &nbsp;&nbsp; 3172 |
| &nbsp;&nbsp;&nbsp; RegS <br>7.625%, 2/1/41<sup>(4)</sup> <br>| 897 | &nbsp;&nbsp; 897 |
| &nbsp;&nbsp;&nbsp; RegS <br>7.125%, 1/20/50<sup>(4)</sup> <br>| 459 | &nbsp;&nbsp; 416 |
|  |  | &nbsp;&nbsp; 4485 |
| **Ethiopia—0.1%** | **Ethiopia—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Federal Republic of Ethiopia RegS <br>6.625%, 12/11/26<sup>(4)(6)</sup> <br>| 333 | &nbsp;&nbsp; 345 |
| **Gabon—0.3%** | **Gabon—0.3%** |  |
| &nbsp;&nbsp;&nbsp; Republic of Gabon RegS <br>9.500%, 2/18/29<sup>(4)</sup> <br>| 1121 | &nbsp;&nbsp; 1031 |
| **Ghana—0.7%** | **Ghana—0.7%** |  |
| Republic of Ghana |  |  |
| &nbsp;&nbsp;&nbsp; RegS <br>0.000%, 7/3/26<sup>(4)(7)</sup> <br>| 58 | &nbsp;&nbsp; 57 |
| &nbsp;&nbsp;&nbsp; RegS <br>5.000%, 7/3/35<sup>(4)(5)</sup> <br>| 2712 | &nbsp;&nbsp; 2454 |
|  |  | &nbsp;&nbsp; 2511 |
| **Guatemala—0.6%** | **Guatemala—0.6%** |  |
| Republic of Guatemala |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>5.250%, 8/10/29<sup>(2)</sup> <br>| 560 | &nbsp;&nbsp; 570 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.700%, 10/7/33<sup>(2)</sup> <br>| 643 | &nbsp;&nbsp; 584 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.875%, 8/15/55<sup>(2)</sup> <br>| 292 | &nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.250%, 8/15/36<sup>(4)</sup> <br>| 700 | &nbsp;&nbsp; 742 |
|  |  | &nbsp;&nbsp; 2215 |
| **Hungary—2.8%** | **Hungary—2.8%** |  |
| Hungary Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.250%, 9/22/32<sup>(2)</sup> <br>| 486 | &nbsp;&nbsp; 522 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Hungary—continued** | **Hungary—continued** |  |
| &nbsp;&nbsp;&nbsp; 144A <br>5.500%, 6/16/34<sup>(2)</sup> <br>| $1262 | &nbsp;&nbsp; $1294 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.000%, 9/26/35<sup>(2)</sup> <br>| 1589 | &nbsp;&nbsp; 1673 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.500%, 3/26/36<sup>(2)</sup> <br>| 3944 | &nbsp;&nbsp; 3995 |
| &nbsp;&nbsp;&nbsp; RegS <br>2.125%, 9/22/31<sup>(4)</sup> <br>| 1653 | &nbsp;&nbsp; 1445 |
| &nbsp;&nbsp;&nbsp; Magyar Export-Import Bank Zrt 144A <br>6.125%, 12/4/27<sup>(2)</sup> <br>| 943 | &nbsp;&nbsp; 970 |
|  |  | &nbsp;&nbsp; 9899 |
| **Indonesia—1.8%** | **Indonesia—1.8%** |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.150%, 7/28/31 | 2639 | &nbsp;&nbsp; 2356 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.750%, 9/10/34 | 717 | &nbsp;&nbsp; 713 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.600%, 1/15/35 | 1295 | &nbsp;&nbsp; 1366 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.950%, 2/21/36 | 722 | &nbsp;&nbsp; 719 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.750%, 1/15/44<sup>(4)</sup> <br>| 898 | &nbsp;&nbsp; 1031 |
|  |  | &nbsp;&nbsp; 6185 |
| **Ivory Coast—0.8%** | **Ivory Coast—0.8%** |  |
| Republic of Ivory Coast |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>8.075%, 4/1/36<sup>(2)</sup> <br>| 1065 | &nbsp;&nbsp; 1148 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.250%, 1/30/37<sup>(2)</sup> <br>| 1400 | &nbsp;&nbsp; 1529 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.750%, 2/25/41<sup>(2)</sup> <br>| 208 | &nbsp;&nbsp; 198 |
|  |  | &nbsp;&nbsp; 2875 |
| **Jamaica—0.5%** | **Jamaica—0.5%** |  |
| Government of Jamaica |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.000%, 3/15/39 | 1087 | &nbsp;&nbsp; 1314 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.875%, 7/28/45 | 486 | &nbsp;&nbsp; 587 |
|  |  | &nbsp;&nbsp; 1901 |
| **Kazakhstan—1.0%** | **Kazakhstan—1.0%** |  |
| Republic of Kazakhstan |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>5.500%, 7/1/37<sup>(2)</sup> <br>| 1509 | &nbsp;&nbsp; 1556 |
| &nbsp;&nbsp;&nbsp; RegS <br>4.714%, 4/9/35<sup>(4)</sup> <br>| 1930 | &nbsp;&nbsp; 1925 |
|  |  | &nbsp;&nbsp; 3481 |
| **Kenya—1.3%** | **Kenya—1.3%** |  |
| Republic of Kenya |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>7.875%, 10/9/33<sup>(2)</sup> <br>| 1093 | &nbsp;&nbsp; 1089 |
| &nbsp;&nbsp;&nbsp; 144A <br>9.500%, 3/5/36<sup>(2)</sup> <br>| 1953 | &nbsp;&nbsp; 2052 |
| &nbsp;&nbsp;&nbsp; 144A <br>8.700%, 2/26/39<sup>(2)</sup> <br>| 1344 | &nbsp;&nbsp; 1312 |
|  |  | &nbsp;&nbsp; 4453 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Kyrgyzstan—0.6%** | **Kyrgyzstan—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Kyrgyz Republic International Bond 144A <br>7.750%, 6/3/30<sup>(2)</sup> <br>| $2015 | &nbsp;&nbsp; $2104 |
| **Lebanon—0.6%** | **Lebanon—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Lebanon Government International Bond RegS <br>8.250%, 4/12/21<sup>(4)(6)</sup> <br>| 6621 | &nbsp;&nbsp; 1943 |
| **Mexico—4.3%** | **Mexico—4.3%** |  |
| &nbsp;&nbsp;&nbsp; Eagle Funding Luxco S.a.r.l. 144A <br>5.500%, 8/17/30<sup>(2)</sup> <br>| 3937 | &nbsp;&nbsp; 4016 |
| United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.850%, 7/2/32 | 2006 | &nbsp;&nbsp; 2086 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.375%, 3/22/33 | 1561 | &nbsp;&nbsp; 1566 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%, 2/12/34 | 2572 | &nbsp;&nbsp; 2252 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.000%, 5/7/36 | 1606 | &nbsp;&nbsp; 1648 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.125%, 2/9/38 | 1716 | &nbsp;&nbsp; 1739 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%, 4/27/51 | 686 | &nbsp;&nbsp; 563 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.771%, 5/24/61 | 1132 | &nbsp;&nbsp; 709 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.750%, 4/19/71 | 880 | &nbsp;&nbsp; 530 |
|  |  | &nbsp;&nbsp; 15109 |
| **Mozambique—0.1%** | **Mozambique—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Republic of Mozambique 144A <br>9.000%, 9/15/31<sup>(2)(5)</sup> <br>| 363 | &nbsp;&nbsp; 307 |
| **Nigeria—2.0%** | **Nigeria—2.0%** |  |
| Republic of Nigeria |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.500%, 11/28/27<sup>(2)</sup> <br>| 513 | &nbsp;&nbsp; 521 |
| &nbsp;&nbsp;&nbsp; 144A <br>7.143%, 2/23/30<sup>(2)</sup> <br>| 417 | &nbsp;&nbsp; 430 |
| &nbsp;&nbsp;&nbsp; 144A <br>9.625%, 6/9/31<sup>(2)</sup> <br>| 2596 | &nbsp;&nbsp; 2934 |
| &nbsp;&nbsp;&nbsp; 144A <br>10.375%, 12/9/34<sup>(2)</sup> <br>| 1652 | &nbsp;&nbsp; 1969 |
| &nbsp;&nbsp;&nbsp; RegS <br>8.747%, 1/21/31<sup>(4)</sup> <br>| 1145 | &nbsp;&nbsp; 1243 |
|  |  | &nbsp;&nbsp; 7097 |
| **Oman—2.8%** | **Oman—2.8%** |  |
| Oman Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.250%, 1/25/31<sup>(2)</sup> <br>| 3118 | &nbsp;&nbsp; 3346 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.500%, 3/8/47<sup>(2)</sup> <br>| 4082 | &nbsp;&nbsp; 4417 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.750%, 1/17/48<sup>(2)</sup> <br>| 1066 | &nbsp;&nbsp; 1174 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.250%, 1/25/31<sup>(4)</sup> <br>| 756 | &nbsp;&nbsp; 811 |
|  |  | &nbsp;&nbsp; 9748 |
| **Pakistan—0.6%** | **Pakistan—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Islamic Republic of Pakistan 144A <br>7.375%, 4/8/31<sup>(2)</sup> <br>| 2135 | &nbsp;&nbsp; 2108 |
| **Panama—1.5%** | **Panama—1.5%** |  |
| &nbsp;&nbsp;&nbsp; Panama Bonos del Tesoro <br>3.362%, 6/30/31<br>| 2575 | &nbsp;&nbsp; 2355 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Panama—continued** | **Panama—continued** |  |
| Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.227%, 2/23/34 | $1408 | &nbsp;&nbsp; $1407 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.700%, 1/26/36 | 847 | &nbsp;&nbsp; 922 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.853%, 3/28/54 | 422 | &nbsp;&nbsp; 457 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%, 1/19/63 | 265 | &nbsp;&nbsp; 205 |
|  |  | &nbsp;&nbsp; 5346 |
| **Peru—1.6%** | **Peru—1.6%** |  |
| Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.750%, 11/21/33 | 209 | &nbsp;&nbsp; 264 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%, 1/15/34 | 2423 | &nbsp;&nbsp; 2129 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.375%, 2/8/35 | 651 | &nbsp;&nbsp; 672 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.875%, 8/8/54 | 1726 | &nbsp;&nbsp; 1743 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.600%, 1/15/72 | 1464 | &nbsp;&nbsp; 956 |
|  |  | &nbsp;&nbsp; 5764 |
| **Philippines—2.0%** | **Philippines—2.0%** |  |
| Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.950%, 1/6/32 | 2932 | &nbsp;&nbsp; 2579 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%, 7/17/33 | 872 | &nbsp;&nbsp; 898 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.750%, 3/5/35 | 640 | &nbsp;&nbsp; 639 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%, 1/13/37 | 1456 | &nbsp;&nbsp; 1475 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.700%, 2/2/42 | 1753 | &nbsp;&nbsp; 1466 |
|  |  | &nbsp;&nbsp; 7057 |
| **Poland—1.8%** | **Poland—1.8%** |  |
| Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.125%, 9/18/34 | 3136 | &nbsp;&nbsp; 3258 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.375%, 2/12/35 | 896 | &nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%, 4/4/53 | 1364 | &nbsp;&nbsp; 1333 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%, 3/18/54 | 914 | &nbsp;&nbsp; 895 |
|  |  | &nbsp;&nbsp; 6424 |
| **Romania—3.5%** | **Romania—3.5%** |  |
| Romanian Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>7.125%, 1/17/33<sup>(2)</sup> <br>| 2911 | &nbsp;&nbsp; 3217 |
| &nbsp;&nbsp;&nbsp; 144A <br>4.625%, 3/4/33<sup>(2)</sup> <br>| 284 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 335 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.375%, 6/7/33<sup>(2)</sup> <br>| 1452 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 1778 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.375%, 1/30/34<sup>(2)</sup> <br>| 2042 | &nbsp;&nbsp; 2157 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.000%, 5/25/34<sup>(2)</sup> <br>| 1159 | &nbsp;&nbsp; 1195 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.750%, 3/24/35<sup>(2)</sup> <br>| 484 | &nbsp;&nbsp; 489 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.625%, 5/16/36<sup>(2)</sup> <br>| 445 | &nbsp;&nbsp; 474 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.750%, 7/4/36<sup>(2)</sup> <br>| 1008 | &nbsp;&nbsp; 1005 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.000%, 5/25/34<sup>(4)</sup> <br>| 704 | &nbsp;&nbsp; 726 |
| &nbsp;&nbsp;&nbsp; RegS <br>5.625%, 2/22/36<sup>(4)</sup> <br>| 770 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 936 |
|  |  | &nbsp;&nbsp; 12312 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Russia—0.0%** | **Russia—0.0%** |  |
| &nbsp;&nbsp;&nbsp; Russian Federation - Eurobond RegS <br>5.100%, 3/28/35<sup>(4)(6)(8)(9)</sup> <br>| $100 | &nbsp;&nbsp; $— |
| **Saudi Arabia—4.1%** | **Saudi Arabia—4.1%** |  |
| &nbsp;&nbsp;&nbsp; Gaci First Investment Co. RegS <br>4.750%, 2/14/30<sup>(4)</sup> <br>| 2429 | &nbsp;&nbsp; 2460 |
| &nbsp;&nbsp;&nbsp; KSA Ijarah Sukuk Ltd. 144A <br>4.875%, 9/9/35<sup>(2)</sup> <br>| 1106 | &nbsp;&nbsp; 1114 |
| Saudi International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>4.500%, 4/17/30<sup>(2)</sup> <br>| 2481 | &nbsp;&nbsp; 2510 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.000%, 1/16/34<sup>(2)</sup> <br>| 1139 | &nbsp;&nbsp; 1169 |
| &nbsp;&nbsp;&nbsp; 144A <br>5.625%, 1/13/35<sup>(2)</sup> <br>| 555 | &nbsp;&nbsp; 591 |
| &nbsp;&nbsp;&nbsp; 144A <br>4.875%, 1/12/36<sup>(2)</sup> <br>| 2464 | &nbsp;&nbsp; 2474 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.750%, 1/21/55<sup>(2)</sup> <br>| 1029 | &nbsp;&nbsp; 742 |
| &nbsp;&nbsp;&nbsp; RegS <br>3.250%, 10/22/30<sup>(4)</sup> <br>| 978 | &nbsp;&nbsp; 938 |
| &nbsp;&nbsp;&nbsp; RegS <br>5.625%, 1/13/35<sup>(4)</sup> <br>| 2209 | &nbsp;&nbsp; 2354 |
|  |  | &nbsp;&nbsp; 14352 |
| **Senegal—0.2%** | **Senegal—0.2%** |  |
| Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp; RegS <br>4.750%, 3/13/28<sup>(4)</sup> <br>| 473 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 443 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.250%, 5/23/33<sup>(4)</sup> <br>| 543 | &nbsp;&nbsp; 335 |
|  |  | &nbsp;&nbsp; 778 |
| **South Africa—3.5%** | **South Africa—3.5%** |  |
| Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.875%, 6/22/30 | 934 | &nbsp;&nbsp; 966 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.750%, 1/31/44 | 38000 <br><sup>ZAR</sup><br>| &nbsp;&nbsp; 2404 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.375%, 7/24/44 | 692 | &nbsp;&nbsp; 581 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.650%, 9/27/47 | 944 | &nbsp;&nbsp; 797 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.750%, 9/30/49 | 1041 | &nbsp;&nbsp; 876 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.300%, 4/20/52 | 1033 | &nbsp;&nbsp; 1043 |
| &nbsp;&nbsp;&nbsp; 144A <br>7.100%, 11/19/36<sup>(2)</sup> <br>| 2161 | &nbsp;&nbsp; 2323 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.125%, 12/11/37<sup>(2)</sup> <br>| 1921 | &nbsp;&nbsp; 1894 |
| &nbsp;&nbsp;&nbsp; 144A <br>7.950%, 11/19/54<sup>(2)</sup> <br>| 1285 | &nbsp;&nbsp; 1388 |
|  |  | &nbsp;&nbsp; 12272 |
| **Sri Lanka—1.1%** | **Sri Lanka—1.1%** |  |
| Republic of Sri Lanka |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>4.000%, 4/15/28<sup>(2)</sup> <br>| 250 | &nbsp;&nbsp; 243 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.100%, 1/15/30<sup>(2)(5)</sup> <br>| 360 | &nbsp;&nbsp; 359 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.350%, 3/15/33<sup>(2)(5)</sup> <br>| 868 | &nbsp;&nbsp; 810 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.600%, 6/15/35<sup>(2)(5)</sup> <br>| 1066 | &nbsp;&nbsp; 871 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Sri Lanka—continued** | **Sri Lanka—continued** |  |
| &nbsp;&nbsp;&nbsp; 144A <br>3.600%, 2/15/38<sup>(2)(5)</sup> <br>| $1545 | &nbsp;&nbsp; $1536 |
|  |  | &nbsp;&nbsp; 3819 |
| **Suriname—0.5%** | **Suriname—0.5%** |  |
| &nbsp;&nbsp;&nbsp; Suriname Government International Bond 144A <br>8.500%, 11/6/35<sup>(2)</sup> <br>| 1603 | &nbsp;&nbsp; 1712 |
| **Trinidad and Tobago—0.9%** | **Trinidad and Tobago—0.9%** |  |
| Trinidad & Tobago Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>6.400%, 6/26/34<sup>(2)</sup> <br>| 577 | &nbsp;&nbsp; 586 |
| &nbsp;&nbsp;&nbsp; 144A <br>6.500%, 1/28/36<sup>(2)</sup> <br>| 2114 | &nbsp;&nbsp; 2139 |
| &nbsp;&nbsp;&nbsp; RegS <br>5.950%, 1/14/31<sup>(4)</sup> <br>| 385 | &nbsp;&nbsp; 394 |
|  |  | &nbsp;&nbsp; 3119 |
| **Turkey—3.8%** | **Turkey—3.8%** |  |
| &nbsp;&nbsp;&nbsp; Hazine Mustesarligi Varlik Kiralama AS 144A <br>8.509%, 1/14/29<sup>(2)</sup> <br>| 1387 | &nbsp;&nbsp; 1508 |
| Republic of Turkiye |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>9.375%, 3/14/29 | 1879 | &nbsp;&nbsp; 2091 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.125%, 2/12/32 | 2647 | &nbsp;&nbsp; 2771 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.250%, 5/29/32 | 1683 | &nbsp;&nbsp; 1768 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.500%, 9/20/33 | 945 | &nbsp;&nbsp; 946 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.500%, 1/3/35 | 822 | &nbsp;&nbsp; 817 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.950%, 9/16/35 | 1721 | &nbsp;&nbsp; 1750 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.625%, 2/17/45 | 301 | &nbsp;&nbsp; 276 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.750%, 5/11/47 | 1895 | &nbsp;&nbsp; 1549 |
|  |  | &nbsp;&nbsp; 13476 |
| **Ukraine—1.7%** | **Ukraine—1.7%** |  |
| Ukraine Government Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>4.500%, 2/1/29<sup>(2)(5)</sup> <br>| 897 | &nbsp;&nbsp; 686 |
| &nbsp;&nbsp;&nbsp; 144A <br>0.000%, 2/1/30<sup>(2)(5)</sup> <br>| 112 | &nbsp;&nbsp; 72 |
| &nbsp;&nbsp;&nbsp; 144A <br>4.000%, 2/1/32<sup>(2)(5)</sup> <br>| 417 | &nbsp;&nbsp; 323 |
| &nbsp;&nbsp;&nbsp; 144A <br>0.000%, 2/1/36<sup>(2)(5)</sup> <br>| 1854 | &nbsp;&nbsp; 1047 |
| &nbsp;&nbsp;&nbsp; 144A <br>4.500%, 2/1/36<sup>(2)(5)</sup> <br>| 580 | &nbsp;&nbsp; 348 |
| &nbsp;&nbsp;&nbsp; RegS <br>0.000%, 2/1/30<sup>(4)(5)</sup> <br>| 52 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; RegS <br>4.000%, 2/1/32<sup>(4)(5)</sup> <br>| 3834 | &nbsp;&nbsp; 2971 |
| &nbsp;&nbsp;&nbsp; RegS <br>0.000%, 2/1/34<sup>(4)(5)</sup> <br>| 196 | &nbsp;&nbsp; 96 |
| &nbsp;&nbsp;&nbsp; RegS <br>4.500%, 2/1/36<sup>(4)(5)</sup> <br>| 398 | &nbsp;&nbsp; 239 |
|  |  | &nbsp;&nbsp; 5816 |
| **United Arab Emirates—0.1%** | **United Arab Emirates—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Government International Bond 144A <br>3.000%, 9/15/51<sup>(2)</sup> <br>| 767 | &nbsp;&nbsp; 527 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Uruguay—1.4%** | **Uruguay—1.4%** |  |
| Republica Orient Uruguay |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.100%, 6/18/50 | $688 | &nbsp;&nbsp; $661 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.975%, 4/20/55 | 2002 | &nbsp;&nbsp; 1856 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.250%, 9/10/60 | 2683 | &nbsp;&nbsp; 2549 |
|  |  | &nbsp;&nbsp; 5066 |
| **Uzbekistan—0.2%** | **Uzbekistan—0.2%** |  |
| Uzbekistan International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>7.850%, 10/12/28<sup>(2)</sup> <br>| 512 | &nbsp;&nbsp; 548 |
| &nbsp;&nbsp;&nbsp; 144A <br>3.700%, 11/25/30<sup>(2)</sup> <br>| 5 | &nbsp;&nbsp; 5 |
|  |  | &nbsp;&nbsp; 553 |
| **Venezuela—0.7%** | **Venezuela—0.7%** |  |
| Bolivarian Republic of Venezuela |  |  |
| &nbsp;&nbsp;&nbsp; RegS <br>7.750%, 10/13/19<sup>(4)(6)</sup> <br>| 5949 | &nbsp;&nbsp; 2207 |
| &nbsp;&nbsp;&nbsp; RegS <br>6.000%, 12/9/20<sup>(4)(6)</sup> <br>| 1038 | &nbsp;&nbsp; 362 |
|  |  | &nbsp;&nbsp; 2569 |
| **Zambia—0.1%** | **Zambia—0.1%** |  |
| Republic of Zambia |  |  |
| &nbsp;&nbsp;&nbsp; 144A <br>5.750%, 6/30/33<sup>(2)(5)</sup> <br>| 453 | &nbsp;&nbsp; 440 |
| &nbsp;&nbsp;&nbsp; 144A <br>0.500%, 12/31/53<sup>(2)</sup> <br>| — <br><sup>(10)</sup><br>| &nbsp;&nbsp; — <br><sup>(10)</sup><br>|
|  |  | &nbsp;&nbsp; 440 |
| **Total Foreign Government Securities** <br>**(Identified Cost $247,387)** | **Total Foreign Government Securities** <br>**(Identified Cost $247,387)** | &nbsp;&nbsp; **259534** |
| **Convertible Bonds and Notes—0.1%** | **Convertible Bonds and Notes—0.1%** | **Convertible Bonds and Notes—0.1%** |
| **Tanzania—0.1%** | **Tanzania—0.1%** |  |
| &nbsp;&nbsp;&nbsp; HTA Group Ltd. RegS <br>2.875%, 3/18/27<sup>(4)</sup> <br>| 400 | &nbsp;&nbsp; 431 |
| **Total Convertible Bonds and Notes** <br>**(Identified Cost $392)** | **Total Convertible Bonds and Notes** <br>**(Identified Cost $392)** | &nbsp;&nbsp; **431** |
| **Corporate Bonds and Notes—16.4%** | **Corporate Bonds and Notes—16.4%** | **Corporate Bonds and Notes—16.4%** |
| **Angola—0.1%** | **Angola—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Azule Energy Finance plc 144A <br>8.125%, 1/23/30<sup>(2)</sup> <br>| 167 | &nbsp;&nbsp; 170 |
| **Argentina—0.3%** | **Argentina—0.3%** |  |
| &nbsp;&nbsp;&nbsp; Generacion Mediterranea S.A. 144A <br>11.000%, 11/1/31<sup>(2)(6)</sup> <br>| 145 | &nbsp;&nbsp; 102 |
| &nbsp;&nbsp;&nbsp; MSU Energy S.A. 144A <br>9.750%, 12/5/30<sup>(2)</sup> <br>| 311 | &nbsp;&nbsp; 313 |
| &nbsp;&nbsp;&nbsp; Telecom Argentina S.A. 144A <br>9.250%, 5/28/33<sup>(2)</sup> <br>| 211 | &nbsp;&nbsp; 223 |
| &nbsp;&nbsp;&nbsp; YPF Energia Electrica S.A. 144A <br>7.875%, 10/16/32<sup>(2)</sup> <br>| 183 | &nbsp;&nbsp; 187 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Argentina—continued** | **Argentina—continued** |  |
| &nbsp;&nbsp;&nbsp; YPF S.A. 144A <br>9.500%, 1/17/31<sup>(2)</sup> <br>| $272 | &nbsp;&nbsp; $288 |
|  |  | &nbsp;&nbsp; 1113 |
| **Brazil—1.0%** | **Brazil—1.0%** |  |
| &nbsp;&nbsp;&nbsp; 3R Lux S.a.r.l. 144A <br>9.750%, 2/5/31<sup>(2)</sup> <br>| 258 | &nbsp;&nbsp; 270 |
| &nbsp;&nbsp;&nbsp; Adecoagro S.A. 144A <br>7.500%, 7/29/32<sup>(2)</sup> <br>| 156 | &nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance B.V. 144A <br>4.500%, 1/31/30<sup>(2)</sup> <br>| 156 | &nbsp;&nbsp; 66 |
| &nbsp;&nbsp;&nbsp; Constellation Oil Services Holding S.A. 144A <br>9.375%, 11/7/29<sup>(2)</sup> <br>| 211 | &nbsp;&nbsp; 220 |
| &nbsp;&nbsp;&nbsp; CSN Inova Ventures 144A <br>6.750%, 1/28/28<sup>(2)</sup> <br>| 79 | &nbsp;&nbsp; 68 |
| &nbsp;&nbsp;&nbsp; CSN Resources S.A. 144A <br>4.625%, 6/10/31<sup>(2)</sup> <br>| 233 | &nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Eldorado Intl. Finance GmbH 144A <br>8.500%, 12/1/32<sup>(2)</sup> <br>| 159 | &nbsp;&nbsp; 165 |
| &nbsp;&nbsp;&nbsp; FORESEA Holding S.A. 144A <br>7.500%, 6/15/30<sup>(2)</sup> <br>| 269 | &nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp; FS Luxembourg S.a.r.l. 144A <br>8.125%, 2/11/36<sup>(2)</sup> <br>| 172 | &nbsp;&nbsp; 162 |
| &nbsp;&nbsp;&nbsp; MC Brazil Downstream Trading S.a.r.l. 144A <br>7.250%, 6/30/31<sup>(2)</sup> <br>| 301 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Movida Europe S.A. 144A <br>7.850%, 4/11/29<sup>(2)</sup> <br>| 143 | &nbsp;&nbsp; 139 |
| &nbsp;&nbsp;&nbsp; MV24 Capital B.V. 144A <br>6.748%, 6/1/34<sup>(2)</sup> <br>| 270 | &nbsp;&nbsp; 275 |
| &nbsp;&nbsp;&nbsp; OHI Group S.A. 144A <br>13.000%, 7/22/29<sup>(2)</sup> <br>| 233 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Samarco Mineracao S.A. (9.500% PIK) 144A <br>9.500%, 6/30/31<sup>(2)(11)</sup> <br>| 286 | &nbsp;&nbsp; 288 |
| &nbsp;&nbsp;&nbsp; Simpar Europe S.A. 144A <br>5.200%, 1/26/31<sup>(2)</sup> <br>| 85 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; Trident Energy Finance plc 144A <br>12.500%, 11/30/29<sup>(2)</sup> <br>| 166 | &nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp; Vamos Europe S.A. 144A <br>9.200%, 1/26/31<sup>(2)</sup> <br>| 152 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Yinson Bergenia Production B.V. 144A <br>8.498%, 1/31/45<sup>(2)</sup> <br>| 139 | &nbsp;&nbsp; 148 |
| &nbsp;&nbsp;&nbsp; Yinson Boronia Production B.V. 144A <br>8.947%, 7/31/42<sup>(2)</sup> <br>| 245 | &nbsp;&nbsp; 269 |
|  |  | &nbsp;&nbsp; 3530 |
| **Chile—1.2%** | **Chile—1.2%** |  |
| &nbsp;&nbsp;&nbsp; ATP Tower Holdings 144A <br>7.875%, 2/3/30<sup>(2)</sup> <br>| 200 | &nbsp;&nbsp; 207 |
| &nbsp;&nbsp;&nbsp; Banco de Credito e Inversiones S.A. 144A <br>7.500% <sup>(2)(12)</sup> <br>| 208 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; Chile Electricity Lux Mpc II S.a.r.l. 144A <br>5.580%, 10/20/35<sup>(2)</sup> <br>| 238 | &nbsp;&nbsp; 246 |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 5.950%, 1/8/34<sup>(2)</sup> <br>| 1257 | &nbsp;&nbsp; 1331 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.330%, 1/13/35<sup>(2)</sup> <br>| 925 | &nbsp;&nbsp; 999 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 3.700%, 1/30/50<sup>(2)</sup> <br>| 555 | &nbsp;&nbsp; 403 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Chile—continued** | **Chile—continued** |  |
| &nbsp;&nbsp;&nbsp; Empresa Nacional del Petroleo RegS <br>5.250%, 11/6/29<sup>(4)</sup> <br>| $903 | &nbsp;&nbsp; $920 |
|  |  | &nbsp;&nbsp; 4328 |
| **China—0.2%** | **China—0.2%** |  |
| &nbsp;&nbsp;&nbsp; Longfor Group Holdings Ltd. RegS <br>3.850%, 1/13/32<sup>(4)</sup> <br>| 200 | &nbsp;&nbsp; 153 |
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd. (Macau) 144A <br>5.375%, 12/4/29<sup>(2)</sup> <br>| 76 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Studio City Finance Ltd. (Macau) 144A <br>5.000%, 1/15/29<sup>(2)</sup> <br>| 610 | &nbsp;&nbsp; 590 |
|  |  | &nbsp;&nbsp; 818 |
| **Colombia—0.3%** | **Colombia—0.3%** |  |
| &nbsp;&nbsp;&nbsp; AI Candelaria - spain- S.A. RegS <br>5.750%, 6/15/33<sup>(4)</sup> <br>| 354 | &nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp; Banco Davivienda S.A. 144A <br>6.650% <sup>(2)(12)</sup> <br>| 248 | &nbsp;&nbsp; 231 |
| &nbsp;&nbsp;&nbsp; Geopark Ltd. 144A <br>8.750%, 1/31/30<sup>(2)</sup> <br>| 189 | &nbsp;&nbsp; 179 |
| Gran Tierra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 9.500%, 10/15/29<sup>(2)</sup> <br>| 200 | &nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 9.750%, 4/15/31<sup>(2)</sup> <br>| 39 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; SierraCol Energy Andina LLC 144A <br>9.000%, 11/14/30<sup>(2)</sup> <br>| 150 | &nbsp;&nbsp; 152 |
|  |  | &nbsp;&nbsp; 1069 |
| **Czech Republic—0.1%** | **Czech Republic—0.1%** |  |
| &nbsp;&nbsp;&nbsp; CPI Property Group S.A. RegS <br>6.000%, 1/27/32<sup>(4)</sup> <br>| 250 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 299 |
| &nbsp;&nbsp;&nbsp; Energo-Pro AS 144A <br>8.000%, 5/27/30<sup>(2)</sup> <br>| 100 <br><sup>EUR</sup><br>| &nbsp;&nbsp; 126 |
|  |  | &nbsp;&nbsp; 425 |
| **El Salvador—0.2%** | **El Salvador—0.2%** |  |
| &nbsp;&nbsp;&nbsp; Comision Ejecutiva Hidroelectrica del Rio Lempa 144A <br>8.650%, 1/24/33<sup>(2)</sup> <br>| 693 | &nbsp;&nbsp; 735 |
| **Georgia—0.1%** | **Georgia—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Georgian Railway JSC 144A <br>4.000%, 6/17/28<sup>(2)</sup> <br>| 300 | &nbsp;&nbsp; 287 |
| **Ghana—0.0%** | **Ghana—0.0%** |  |
| &nbsp;&nbsp;&nbsp; Kosmos Energy Ltd. RegS <br>7.750%, 5/1/27<sup>(4)</sup> <br>| 150 | &nbsp;&nbsp; 147 |
| **India—0.4%** | **India—0.4%** |  |
| &nbsp;&nbsp;&nbsp; Adani Electricity Mumbai Ltd. RegS <br>3.949%, 2/12/30<sup>(4)</sup> <br>| 294 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;&nbsp; Adani Green Energy UP Ltd. 144A <br>6.700%, 3/12/42<sup>(2)</sup> <br>| 38 | &nbsp;&nbsp; 36 |
| Adani Ports & Special Economic Zone Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 4.200%, 8/4/27<sup>(2)</sup> <br>| 72 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 3.100%, 2/2/31<sup>(2)</sup> <br>| 255 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp; Adani Renewable Energy RJ Ltd. 144A <br>4.625%, 10/15/39<sup>(2)</sup> <br>| 267 | &nbsp;&nbsp; 226 |
| &nbsp;&nbsp;&nbsp; Adani Transmission Step-One Ltd. 144A <br>4.000%, 8/3/26<sup>(2)</sup> <br>| 103 | &nbsp;&nbsp; 103 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **India—continued** | **India—continued** |  |
| &nbsp;&nbsp;&nbsp; Clean Renewable Power Mauritius Pte Ltd. 144A <br>4.250%, 3/25/27<sup>(2)</sup> <br>| $67 | &nbsp;&nbsp; $66 |
| Vedanta Resources Finance II plc |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 10.875%, 9/17/29<sup>(2)</sup> <br>| 69 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 9.475%, 7/24/30<sup>(2)</sup> <br>| 132 | &nbsp;&nbsp; 139 |
|  |  | &nbsp;&nbsp; 1226 |
| **Indonesia—1.3%** | **Indonesia—1.3%** |  |
| &nbsp;&nbsp;&nbsp; Freeport Indonesia PT RegS <br>5.315%, 4/14/32<sup>(4)</sup> <br>| 105 | &nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; Indonesia Asahan Aluminium PT 144A <br>5.800%, 5/15/50<sup>(2)</sup> <br>| 2315 | &nbsp;&nbsp; 2220 |
| &nbsp;&nbsp;&nbsp; Medco Bell Pte Ltd. RegS <br>6.375%, 1/30/27<sup>(4)</sup> <br>| 70 | &nbsp;&nbsp; 70 |
| &nbsp;&nbsp;&nbsp; Medco Laurel Tree Pte Ltd. 144A <br>6.950%, 11/12/28<sup>(2)</sup> <br>| 150 | &nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Minejesa Capital B.V. 144A <br>5.625%, 8/10/37<sup>(2)</sup> <br>| 350 | &nbsp;&nbsp; 346 |
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT RegS <br>6.000%, 5/3/42<sup>(4)</sup> <br>| 561 | &nbsp;&nbsp; 565 |
| &nbsp;&nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik <br> Negara<br>|  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 5.250%, 10/24/42<sup>(4)</sup> <br>| 783 | &nbsp;&nbsp; 724 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 4.000%, 6/30/50<sup>(4)</sup> <br>| 716 | &nbsp;&nbsp; 525 |
|  |  | &nbsp;&nbsp; 4708 |
| **Israel—0.2%** | **Israel—0.2%** |  |
| Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A, RegS 5.375%, 3/30/28<sup>(2)(4)</sup> <br>| 21 | &nbsp;&nbsp; 21 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A, RegS 5.875%, 3/30/31<sup>(2)(4)</sup> <br>| 254 | &nbsp;&nbsp; 244 |
| Leviathan Bond Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A, RegS 6.500%, 6/30/27<sup>(2)(4)</sup> <br>| 221 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A, RegS 6.750%, 6/30/30<sup>(2)(4)</sup> <br>| 70 | &nbsp;&nbsp; 72 |
|  |  | &nbsp;&nbsp; 559 |
| **Kuwait—0.0%** | **Kuwait—0.0%** |  |
| &nbsp;&nbsp;&nbsp; NBK Tier 1 Ltd. 144A <br>6.375% <sup>(2)(12)</sup> <br>| 145 | &nbsp;&nbsp; 148 |
| **Malaysia—1.1%** | **Malaysia—1.1%** |  |
| Petronas Capital Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 5.848%, 4/3/55<sup>(2)</sup> <br>| 1526 | &nbsp;&nbsp; 1623 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 4.550%, 4/21/50<sup>(4)</sup> <br>| 1219 | &nbsp;&nbsp; 1091 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 4.800%, 4/21/60<sup>(4)</sup> <br>| 712 | &nbsp;&nbsp; 650 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 3.404%, 4/28/61<sup>(4)</sup> <br>| 593 | &nbsp;&nbsp; 410 |
|  |  | &nbsp;&nbsp; 3774 |
| **Mexico—4.2%** | **Mexico—4.2%** |  |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte S.A. 144A <br>8.375% <sup>(2)(12)</sup> <br>| 418 | &nbsp;&nbsp; 446 |
| &nbsp;&nbsp;&nbsp; Cemex SAB de C.V. 144A <br>7.200% <sup>(2)(12)</sup> <br>| 213 | &nbsp;&nbsp; 224 |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad 144A <br>6.450%, 1/24/35<sup>(2)</sup> <br>| 923 | &nbsp;&nbsp; 957 |
| &nbsp;&nbsp;&nbsp; Grupo Aeromexico SAB de C.V. 144A <br>8.625%, 11/15/31<sup>(2)</sup> <br>| 236 | &nbsp;&nbsp; 242 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de C.V. 144A <br>7.500%, 5/13/35<sup>(2)</sup> <br>| 221 | &nbsp;&nbsp; 222 |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Mexico—continued** | **Mexico—continued** |  |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.840%, 1/23/30 | $2049 | &nbsp;&nbsp; $2100 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.950%, 1/28/31 | 568 | &nbsp;&nbsp; 556 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.700%, 2/16/32 | 1074 | &nbsp;&nbsp; 1077 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.950%, 1/28/60 | 3241 | &nbsp;&nbsp; 2668 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.350%, 2/12/48 | 1532 | &nbsp;&nbsp; 1229 |
| &nbsp;&nbsp;&nbsp; Poinsettia Finance Ltd. S.a.r.l. RegS <br>6.625%, 6/17/31<sup>(4)</sup> <br>| 4841 | &nbsp;&nbsp; 4759 |
| &nbsp;&nbsp;&nbsp; Saavi Energia S.a.r.l. 144A <br>8.875%, 2/10/35<sup>(2)</sup> <br>| 137 | &nbsp;&nbsp; 151 |
|  |  | &nbsp;&nbsp; 14631 |
| **Morocco—0.1%** | **Morocco—0.1%** |  |
| &nbsp;&nbsp;&nbsp; OCP S.A. 144A <br>7.500%, 5/2/54<sup>(2)</sup> <br>| 231 | &nbsp;&nbsp; 259 |
| **Nigeria—0.1%** | **Nigeria—0.1%** |  |
| &nbsp;&nbsp;&nbsp; Access Bank plc 144A <br>6.125%, 9/21/26<sup>(2)</sup> <br>| 75 | &nbsp;&nbsp; 75 |
| IHS Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 7.875%, 5/29/30<sup>(2)</sup> <br>| 128 | &nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 8.250%, 11/29/31<sup>(2)</sup> <br>| 35 | &nbsp;&nbsp; 37 |
| &nbsp;&nbsp;&nbsp; IHS Netherlands Holdco B.V. 144A <br>8.000%, 9/18/27<sup>(2)</sup> <br>| 201 | &nbsp;&nbsp; 201 |
|  |  | &nbsp;&nbsp; 447 |
| **Peru—0.4%** | **Peru—0.4%** |  |
| &nbsp;&nbsp;&nbsp; Banco de Credito del Peru S.A. 144A <br>6.450%, 7/30/35<sup>(2)</sup> <br>| 71 | &nbsp;&nbsp; 74 |
| &nbsp;&nbsp;&nbsp; Peru Payroll Deduction Finance Ltd. RegS <br>0.000%, 11/1/29<sup>(4)(7)</sup> <br>| 604 | &nbsp;&nbsp; 541 |
| &nbsp;&nbsp;&nbsp; Petroleos del Peru S.A. RegS <br>4.750%, 6/19/32<sup>(4)</sup> <br>| 871 | &nbsp;&nbsp; 640 |
| &nbsp;&nbsp;&nbsp; Volcan Cia Minera SAA 144A <br>8.500%, 10/28/32<sup>(2)</sup> <br>| 149 | &nbsp;&nbsp; 156 |
|  |  | &nbsp;&nbsp; 1411 |
| **Saudi Arabia—0.4%** | **Saudi Arabia—0.4%** |  |
| &nbsp;&nbsp;&nbsp; SAB AT1 Ltd. RegS <br>6.500% <sup>(4)(12)</sup> <br>| 200 | &nbsp;&nbsp; 205 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co. 144A <br>5.875%, 7/17/64<sup>(2)</sup> <br>| 1269 | &nbsp;&nbsp; 1231 |
|  |  | &nbsp;&nbsp; 1436 |
| **South Africa—1.0%** | **South Africa—1.0%** |  |
| &nbsp;&nbsp;&nbsp; Eskom Holdings 144A <br>8.450%, 8/10/28<sup>(2)</sup> <br>| 2533 | &nbsp;&nbsp; 2716 |
| &nbsp;&nbsp;&nbsp; Prosus N.V. 144A <br>3.832%, 2/8/51<sup>(2)</sup> <br>| 250 | &nbsp;&nbsp; 170 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.375%, 9/18/26 | 270 | &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.500%, 9/27/28 | 275 | &nbsp;&nbsp; 273 |
|  |  | &nbsp;&nbsp; 3427 |
| **Tanzania—0.1%** | **Tanzania—0.1%** |  |
| &nbsp;&nbsp;&nbsp; HTA Group Ltd. 144A <br>7.500%, 6/4/29<sup>(2)</sup> <br>| 255 | &nbsp;&nbsp; 263 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value**<sup>(1)</sup> | **Value** |
| **Trinidad and Tobago—0.2%** | **Trinidad and Tobago—0.2%** |  |
| &nbsp;&nbsp;&nbsp; Port of Spain Waterfront Development RegS <br>7.875%, 2/19/40<sup>(4)</sup> <br>| $611 | &nbsp;&nbsp; $621 |
| **Turkey—0.2%** | **Turkey—0.2%** |  |
| &nbsp;&nbsp;&nbsp; ADM Elektrik Dagitim AS 144A <br>9.500%, 2/5/31<sup>(2)</sup> <br>| 55 | &nbsp;&nbsp; 55 |
| &nbsp;&nbsp;&nbsp; Akbank TAS 144A <br>7.875%, 9/4/35<sup>(2)</sup> <br>| 75 | &nbsp;&nbsp; 77 |
| &nbsp;&nbsp;&nbsp; Aydem Yenilenebilir Enerji AS 144A <br>9.875%, 9/30/30<sup>(2)</sup> <br>| 98 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Limak Yenilenebilir Enerji AS 144A <br>9.625%, 8/12/30<sup>(2)</sup> <br>| 34 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri AS 144A <br>7.650%, 1/24/32<sup>(2)</sup> <br>| 140 | &nbsp;&nbsp; 149 |
| &nbsp;&nbsp;&nbsp; WE Soda Investments Holding plc 144A <br>9.500%, 10/6/28<sup>(2)</sup> <br>| 140 | &nbsp;&nbsp; 145 |
| &nbsp;&nbsp;&nbsp; Zorlu Enerji Elektrik Uretim AS 144A <br>11.000%, 4/23/30<sup>(2)</sup> <br>| 113 | &nbsp;&nbsp; 102 |
|  |  | &nbsp;&nbsp; 661 |
| **Ukraine—0.3%** | **Ukraine—0.3%** |  |
| Metinvest B.V. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 7.750%, 10/17/29<sup>(2)</sup> <br>| 250 | &nbsp;&nbsp; 222 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 8.500%, 4/23/26<sup>(4)</sup> <br>| 200 | &nbsp;&nbsp; 198 |
| &nbsp;&nbsp;&nbsp; NPC Ukrenergo 144A <br>6.875%, 11/9/28<sup>(2)(6)</sup> <br>| 502 | &nbsp;&nbsp; 467 |
| &nbsp;&nbsp;&nbsp; VF Ukraine PAT via VFU Funding plc 144A <br>9.625%, 2/11/27<sup>(2)(3)</sup> <br>| 150 | &nbsp;&nbsp; 150 |
|  |  | &nbsp;&nbsp; 1037 |
| **United Arab Emirates—0.6%** | **United Arab Emirates—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Aldar Properties PJSC 144A <br>5.875%, 4/14/56<sup>(2)</sup> <br>| 62 | &nbsp;&nbsp; 62 |
| DP World Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 6.850%, 7/2/37<sup>(2)</sup> <br>| 1255 | &nbsp;&nbsp; 1407 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>144A 4.700%, 9/30/49<sup>(2)</sup> <br>| 436 | &nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>RegS 4.700%, 9/30/49<sup>(4)</sup> <br>| 500 | &nbsp;&nbsp; 433 |
|  |  | &nbsp;&nbsp; 2279 |
| **Uzbekistan—0.6%** | **Uzbekistan—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Uzbekneftegaz JSC 144A <br>8.750%, 5/7/30<sup>(2)</sup> <br>| 1951 | &nbsp;&nbsp; 2130 |
| **Venezuela—1.7%** | **Venezuela—1.7%** |  |
| &nbsp;&nbsp;&nbsp; Petroleos de Venezuela S.A. RegS <br>9.000%, 11/17/21<sup>(4)(6)</sup> <br>| 16129 | &nbsp;&nbsp; 6016 |
| **Vietnam—0.0%** | **Vietnam—0.0%** |  |
| &nbsp;&nbsp;&nbsp; Mong Duong Finance Holdings B.V. 144A <br>5.125%, 5/7/29<sup>(2)</sup> <br>| 142 | &nbsp;&nbsp; 142 |
| **Total Corporate Bonds and Notes** <br>**(Identified Cost $53,901)** | **Total Corporate Bonds and Notes** <br>**(Identified Cost $53,901)** | &nbsp;&nbsp; **57797** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Affiliated Mutual Funds—2.3%** | **Affiliated Mutual Funds—2.3%** | **Affiliated Mutual Funds—2.3%** |
| **Fixed Income Funds—2.3%** | **Fixed Income Funds—2.3%** |  |
| &nbsp;&nbsp;&nbsp; Virtus Stone Harbor Emerging Markets Bond Fund <br> Class I<sup>(13)(14)</sup> <br>| 250947 | &nbsp;&nbsp; $2048 |
| Virtus Stone Harbor Local Markets Fund Class I<sup>(13)(14)</sup> <br>| 699402 | &nbsp;&nbsp; 6196 |
| **Total Affiliated Mutual Funds** <br>**(Identified Cost $7,670)** | **Total Affiliated Mutual Funds** <br>**(Identified Cost $7,670)** | &nbsp;&nbsp; **8244** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Credit Linked Notes—0.6%** | **Credit Linked Notes—0.6%** |
| **Iraq—0.6%** |  |
| Republic of Iraq |  |
| &nbsp;&nbsp;&nbsp; (Counterparty: BOA) <br>2.536%, 1/1/28<sup>(8)(15)</sup> <br>129540 <br><sup>JPY</sup><br>| &nbsp;&nbsp; 810 |
| &nbsp;&nbsp;&nbsp; (Counterparty: BOA) <br>3.540%, 1/6/28<sup>(8)(15)</sup> <br>127287 <br><sup>JPY</sup><br>| &nbsp;&nbsp; 795 |
| &nbsp;&nbsp;&nbsp; (Counterparty: BOA) <br>4.079%, 1/1/28<sup>(8)(15)</sup> <br>58992 <br><sup>JPY</sup><br>| &nbsp;&nbsp; 365 |
| **Total Credit Linked Notes** <br>**(Identified Cost $3,128)** | &nbsp;&nbsp; **1970** |
| **Total Long-Term Investments—93.2%** <br>**(Identified Cost $312,478)** | &nbsp;&nbsp; **327976** |
| **Short-Term Investment—0.6%** | **Short-Term Investment—0.6%** |
| **Foreign Government Security—0.6%** |  |
| **Egypt—0.6%** |  |
| &nbsp;&nbsp;&nbsp; Egypt Treasury Bill Series 364D <br>0.000%, 4/28/26<sup>(7)</sup> <br>114100 <br><sup>EGP</sup><br>| &nbsp;&nbsp; 2286 |
| **Total Short-Term Investment** <br>**(Identified Cost $2,340)** | &nbsp;&nbsp; **2286** |
| **TOTAL INVESTMENTS—93.8%** <br>**(Identified Cost $314,818)** | &nbsp;&nbsp; **$330262** |
| Other assets and liabilities, net—6.2% | &nbsp;&nbsp; 21666 |
| **NET ASSETS—100.0%** | &nbsp;&nbsp; **$351928** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| DAC | Designated Activity Company |
| JSC | Joint Stock Company |
| LLC | Limited Liability Company |
| PIK | Payment-in-Kind Security |
| PJSC | Public Joint Stock Company |
| plc | Public Limited Company |
| S.a.r.l. | Société à responsabilité limitée |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Par Value disclosed in foreign currency is reported in thousands. |
| <sup>(2)</sup> <br>| Security exempt from registration under Rule 144A of the Securities Act of 1933. <br> These securities may be resold in transactions exempt from registration, <br> normally to qualified institutional buyers. At February 28, 2026, these securities <br> amounted to a value of $139,896 or 39.8% of net assets.<br>|
| <sup>(3)</sup> <br>| This Note was issued for the sole purpose of funding a leveraged loan between <br> the issuer and the borrower. As the credit risk for this security lies solely with the <br> borrower, the name represented here is that of the borrower.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(4)</sup> Regulation S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933. 

<sup>(5)</sup> Represents step coupon bond. Rate shown reflects the rate in effect as of February 28, 2026. 

<sup>(6)</sup> Security in default; no interest payments are being received.

<sup>(7)</sup> Issued with a zero coupon. Income is recognized through the accretion of discount. 

<sup>(8)</sup> The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. 

<sup>(9)</sup> The Fund is unable to trade and repatriate proceeds due to U.S. sanctions related to the Russia/Ukraine war. 

<sup>(10)</sup> Amount is less than $500 (not in thousands).

<sup>(11)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(12)</sup> No contractual maturity date.

<sup>(13)</sup> Affiliated investment. 

<sup>(14)</sup> Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. 

<sup>(15)</sup> Variable rate security. Rate disclosed is as of February 28, 2026. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Counterparties:** |  |
| BCLY | Barclays |
| BOA | Bank of America |
| GS | Goldman Sachs & Co.  |
| JPM | JPMorgan Chase Bank N.A. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Foreign Currencies:** | **Foreign Currencies:** |
| EGP | Egyptian Pound |
| EUR | Euro |
| JPY | Japanese Yen |
| TRY | Turkish Lira |
| USD | United States Dollar |
| ZAR | South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Weightings**<sup>†</sup>  | **Country Weightings**<sup>†</sup>  |
| Mexico | 9<br> %<br>|
| Saudi Arabia | 5 |
| South Africa | 5 |
| Brazil | 4 |
| Turkey | 4 |
| Argentina | 4 |
| Romania | 4 |
| Other | 65 |
| Total | 100<br> %<br>|
| <sup>†</sup> % of total investments as of February 28, 2026. | <sup>†</sup> % of total investments as of February 28, 2026. |

---

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** | **Forward foreign currency exchange contracts as of February 28, 2026 were as follows:** |
| **Currency** <br>**Purchased**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Amount** <br>**Purchased**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Sold**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Currency** <br>**Amount** <br>**Sold**<br>| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Settlement** <br>**Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Unrealized** <br>**Depreciation**<br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | BCLY  | 04/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(1)</sup><br>|
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1788 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2104 | JPM | 04/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85532 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545 | JPM | 04/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2269 | GS | 04/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7498 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6389 | JPM | 04/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68) <br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2530 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 393225 | JPM | 04/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| **Total** |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(68) <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> <br>| Amount is less than $500 (not in thousands). |

---

The following table summarizes the value of the Fund's investments as of February 28, 2026, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Total <br>Value at <br>February 28, 2026<br>| Level 1 <br>Quoted Prices<br>| Level 2 <br>Significant <br>Observable <br>Inputs<br>| Level 3 <br>Significant <br>Unobservable <br>Inputs<br>|
| Assets: |  |  |  |  |
| Debt Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Foreign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $261820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $261820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp; Convertible Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Credit Linked Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 |
| Affiliated Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 |
| Liabilities: |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $330218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $320004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1970 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> Includes internally fair valued securities currently priced at zero ($0).

<sup>\*</sup> Forward Foreign Currency Exchange Contracts are valued at the net unrealized appreciation (depreciation) on the instrument by level and counterparty.

There were no transfers into or out of Level 3 related to securities held at February 28, 2026.

Some of the Fund's investments that were categorized as Level 3 may have been valued utilizing third party pricing information without adjustment. If applicable, such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.

*See Notes to Schedule of Investments*

------

**VIRTUS Stone Harbor Emerging Markets Debt Income Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**February 28, 2026**

($ reported in thousands)

The following is a reconciliation of assets of the Fund for Level 3 investments for which significant unobservable inputs were used to determine fair value.

---

| | | | |
|:---|:---|:---|:---|
|  | Total | Credit Linked <br>Notes<br>| Foreign <br>Government <br>Securities<br>|
| **Investments in Securities** |  |  |  |
| **Balance as of May 31, 2025:** | &nbsp;&nbsp;&nbsp;&nbsp; $3176 | &nbsp;&nbsp;&nbsp;&nbsp; $3176 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(a)</sup><br>|
| Accrued discount/(premium) | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp; (526)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (526)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — |
| Net change in unrealized appreciation (depreciation)<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Sales<sup>(c)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1029)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1029)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — |
| **Balance as of February 28, 2026** | &nbsp;&nbsp;&nbsp;&nbsp; $1970 | &nbsp;&nbsp;&nbsp;&nbsp; $1970 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(a)</sup><br>|

---

<sup>(a)</sup> Includes internally fair valued securities currently priced at zero ($0).

<sup>(b)</sup> The net change in unrealized appreciation (depreciation) on investments still held at February 28, 2026, was $302.

<sup>(c)</sup> Includes paydowns on securities.

*See Notes to Schedule of Investments*

------

**VIRTUS STONE HARBOR EMERGING MARKETS DEBT INCOME FUND**

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

**February 28, 2026**

**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.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

Listed derivatives, such as options and futures, that are actively traded are valued at the last posted settlement price from the exchange where they are principally traded and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, swaps, swaptions, options and equity linked instruments, are valued based on model prices provided by independent pricing services or from dealer quotes. Depending on the derivative type and the specific terms of the transaction, these models vary and include observable inputs in actively quoted markets including but not limited to: underlying reference entity details, indices, spreads, interest rates, yield curves, dividend and exchange rates. These instruments are generally categorized as Level 2 in the hierarchy. Centrally cleared swaps listed or traded on a bilateral or trade facility platform, such as a registered exchange, are valued at the last posted settlement price determined by the respective exchange. These securities are generally categorized as Level 2 within 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 Stone Harbor Emerging Markets Debt Income Fund

- **b. EDGAR series identifier (if any):** S000075278

- **c. LEI of Series:** G5WCHRUPIN1QBVGP2222

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-27

**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:** $344207416.64

**Total Liabilities:** $5571823.42

**Net Assets:** $338635593.22

**Cash Not Reported:** $4418585.43

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** -4.26579366 | **5-Year:** -6953.45429500 | **10-Year:** -44818.26121000 | **30-Year:** -68256.17090000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -34.70846400 | **1-Year:** -47.99585081 | **5-Year:** -9862.63413800 | **10-Year:** -33147.31356000 | **30-Year:** -52974.34456000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234176 | 0.79%                | 1.37%                | 1.38%                |
| Class ID C000234177 | 0.88%                | 1.33%                | 1.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $722825.96               | $-198116.66                                |
| Month 2  | $515211.19               | $2345022.08                                |
| Month 3  | $1032670.37              | $2006934.91                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Chase Bank, National Association                                                  | USD/EUR FORWARD                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $13459.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Angola (Republic of)                                                                       | ANGOL 9.875 10/15/35 144A                      | CUSIP: 035198AJ9<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1364000 | PA      | $1388790.70   | 0.41%             | 2035-10-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 5 01/16/34 144A                            | CUSIP: 80413TBG3<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1139000 | PA      | $1168614.00   | 0.35%             | 2034-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ethiopia (Federal Democratic Republic of)                                                  | ETHOPI 6.625 12/11/24 REGS                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |    333000 | PA      | $344655.00    | 0.10%             | 2024-12-11      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Yinson Boronia Production BV                                                               | YPANBR 8.947 07/31/42 144A                     | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    244808 | PA      | $269261.78    | 0.08%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Guatemala (Republic of)                                                                    | GUATEM 6.875 08/15/55 144A                     | CUSIP: 401494BB4<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    292000 | PA      | $318817.28    | 0.09%             | 2055-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Avenir Issuer Ii (Ireland) Designated Activity Company                                     | ANGOL 6.927 02/19/27 7Y                        | CUSIP: 000000000<br>LEI: 635400VEZIQKZPR7KU35 | Long             | ABS-O            | CORP              | IE        |    305714 | PA      | $302143.54    | 0.09%             | 2027-02-21      | Fixed         | 6.93%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                       | POLAND 5.125 09/18/34 10Y                      | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   3136000 | PA      | $3258304.00   | 0.96%             | 2034-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 6.5 09/20/33 12Y                        | CUSIP: 900123DD9<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    945000 | PA      | $945888.30    | 0.28%             | 2033-09-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                        | CHILE 4.35 04/13/31                            | CUSIP: 168863EF1<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   2485000 | PA      | $2489224.50   | 0.74%             | 2031-04-13      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 8.75 09/30/51 144A                       | CUSIP: 03846JAF7<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   3641000 | PA      | $3520847.00   | 1.04%             | 2051-09-30      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 6.125 01/21/31                           | CUSIP: 195325EU5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1170000 | PA      | $1167250.50   | 0.34%             | 2031-01-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                                         | DOMREP 5.875 10/28/35 144A                     | CUSIP: 25714PFF0<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   2689000 | PA      | $2685650.04   | 0.79%             | 2035-10-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd                                                                          | KOS 7.75 05/01/27 REGS                         | CUSIP: 000000000<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147375.00    | 0.04%             | 2027-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Aydem Yenilenebilir Enerji A S                                                             | AYDEMT 9.875 09/30/30 144A                     | CUSIP: 054644AB5<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |     98000 | PA      | $99353.18     | 0.03%             | 2030-09-30      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 7.95 11/19/54 144A                        | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1285000 | PA      | $1387800.00   | 0.41%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                         | PERU 3 01/15/34                                | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   2423000 | PA      | $2129211.25   | 0.63%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MV24 Capital B V                                                                           | MVFPSO 6.748 06/01/34 144A                     | CUSIP: 55388RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    269978 | PA      | $274801.28    | 0.08%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                                    | INDON 6.75 01/15/44 REGS                       | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    898000 | PA      | $1031128.50   | 0.30%             | 2044-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Saavi Energia S.a.r.l.                                                                     | SAAVIE 8.875 02/10/35 144A                     | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    137000 | PA      | $150496.42    | 0.04%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| AZERBAIJAN, REPUBLIC OF - MINISTRY OF FINANCE                                              | AZERBJ 3.5 09/01/32 REGS                       | CUSIP: 000000000<br>LEI: 7890009G02BUL1M3LS88 | Long             | DBT              | NUSS              | AZ        |    771000 | PA      | $724261.98    | 0.21%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Philippines (Republic Of)                                                                  | PHILIP 4.75 03/05/35                           | CUSIP: 718286DC8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    640000 | PA      | $639200.00    | 0.19%             | 2035-03-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Gran Tierra Energy Inc                                                                     | GTE 9.5 10/15/29 144A                          | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    200000 | PA      | $160240.00    | 0.05%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Amazon Conservation DAC                                                                    | AMCSRV 6.034 01/16/42 144A                     | CUSIP: 02315JAA2<br>LEI: 635400VMJ6EGNYN3YK31 | Long             | DBT              | CORP              | IE        |   2528000 | PA      | $2635263.04   | 0.78%             | 2042-01-16      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                       | POLAND 5.5 03/18/54 30Y                        | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    914000 | PA      | $894476.96    | 0.26%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSN Inova Ventures                                                                         | CSNABZ 6.75 01/28/28 144A                      | CUSIP: 12642KAB0<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | KY        |     79000 | PA      | $67722.75     | 0.02%             | 2028-01-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                                                                      | ALDAR V5.875 04/14/56 144A                     | CUSIP: 013917AA7<br>LEI: 98450048CD8AEF13B480 | Long             | DBT              | CORP              | AE        |     62000 | PA      | $61572.20     | 0.02%             | 2056-04-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ohi Group SA                                                                               | OHIFLY 13 07/22/29 144A                        | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |    232750 | PA      | $236313.40    | 0.07%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Kazakhstan (Republic Of)                                                                   | KAZAKS 4.714 04/09/35 REGS                     | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   1930000 | PA      | $1924576.70   | 0.57%             | 2035-04-09      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Uruguay (Republic Of)                                                                      | URUGUA 5.25 09/10/60                           | CUSIP: 760942BG6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   2683000 | PA      | $2549051.23   | 0.75%             | 2060-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                       | PANAMA 6.7 01/26/36                            | CUSIP: 698299AW4<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    847000 | PA      | $921764.69    | 0.27%             | 2036-01-26      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| GACI First Investment Co.                                                                  | PIFKSA 4.75 02/14/30                           | CUSIP: 000000000<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |   2429000 | PA      | $2460455.55   | 0.73%             | 2030-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Hungarian Export-Import Bank Pte Ltd.                                                      | MAEXIM 6.125 12/04/27 144A                     | CUSIP: 55977YAA6<br>LEI: 529900O4UGETQ9Q3AA63 | Long             | DBT              | NUSS              | HU        |    943000 | PA      | $970111.25    | 0.29%             | 2027-12-04      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 6.125 02/09/38                             | CUSIP: 91087BBR0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1716000 | PA      | $1738737.00   | 0.51%             | 2038-02-09      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                                  | PDVSA 9 11/17/21 REGS                          | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | NUSS              | VE        |  16129000 | PA      | $6016117.00   | 1.78%             | 2021-11-17      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Movida Europe S.A                                                                          | MOVIBZ 7.85 04/11/29 144A                      | CUSIP: 62459LAC3<br>LEI: 549300YRJE0V6QKU7C86 | Long             | DBT              | CORP              | LU        |    143000 | PA      | $139016.02    | 0.04%             | 2029-04-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 7.1 11/19/36 144A                         | CUSIP: 836205BF0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   2161000 | PA      | $2323615.25   | 0.69%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| Sierracol Energy Andina LLC / Sierracol Energy Arauca LLC /Colombia Energy Development Co. | SIERRA 9 11/14/30 144A                         | CUSIP: 82653NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151575.00    | 0.04%             | 2030-11-14      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ADANI RENEWABLE ENERGY (RJ) LTD                                                            | ARENRJ 4.625 10/15/39 144A                     | CUSIP: 00654CAA0<br>LEI: 335800DKCLYHG21PBG55 | Long             | DBT              | CORP              | IN        |    266906 | PA      | $226203.05    | 0.07%             | 2039-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 3.75 04/19/71                              | CUSIP: 91087BAP5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    880000 | PA      | $529760.00    | 0.16%             | 2071-04-19      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                         | PERU 8.75 11/21/33                             | CUSIP: 715638AP7<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    209000 | PA      | $263549.00    | 0.08%             | 2033-11-21      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                       | POLAND 5.5 04/04/53 30Y                        | CUSIP: 731011AW2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   1364000 | PA      | $1333350.92   | 0.39%             | 2053-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 8.5 01/31/47 144A                        | CUSIP: 038461AM1<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    349000 | PA      | $333295.00    | 0.10%             | 2047-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Ypf Energia Electrica S.A.                                                                 | YPFLUZ 7.875 10/16/32 144A                     | CUSIP: 98424MAB9<br>LEI: 5493002XN8FRTYQLR778 | Long             | DBT              | CORP              | AR        |    183000 | PA      | $186923.52    | 0.06%             | 2032-10-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 7.5 02/16/61 REGS                        | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    550000 | PA      | $467500.00    | 0.14%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Empresa Nacional del Petroleo                                                              | ENAPCL 5.25 11/06/29 REGS                      | CUSIP: 000000000<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |    903000 | PA      | $919931.25    | 0.27%             | 2029-11-06      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 4.625 03/04/33 144A                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    284000 | PA      | $334889.62    | 0.10%             | 2033-03-04      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 5.625 01/13/35 REGS                        | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   2209000 | PA      | $2354341.16   | 0.70%             | 2035-01-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                                         | DOMREP 6.6 06/01/36 144a                       | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   2248000 | PA      | $2364896.00   | 0.70%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Venezuela (Republic Of)                                                                    | VENZ 7.75 10/13/19                             | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |   5949000 | PA      | $2207079.00   | 0.65%             | 2019-10-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DP World Ltd.                                                                              | DPWDU 4.7 09/30/49 144a                        | CUSIP: 23330JAC5<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    436000 | PA      | $377249.00    | 0.11%             | 2049-09-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 8.5 04/25/35                             | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    513000 | PA      | $563145.75    | 0.17%             | 2035-04-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Banco de Credito e Inversiones                                                             | BCICI V7.5 PERP 144A                           | CUSIP: 05956NAF9<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    208000 | PA      | $222456.00    | 0.07%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                         | PERU 3.6 01/15/72                              | CUSIP: 715638DW9<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1464000 | PA      | $956431.20    | 0.28%             | 2072-01-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 7.3 04/20/52 30Y                          | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1033000 | PA      | $1042813.50   | 0.31%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Benin (The Republic of)                                                                    | BENIN 4.95 01/22/35 REGS                       | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    362000 | PA      | $402609.52    | 0.12%             | 2035-01-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| POINSETTIA FINANCE LTD SARL                                                                | PNSTTA 6.625 06/17/31 REGS                     | CUSIP: 000000000<br>LEI: 549300P2JTF5JKW10Z65 | Long             | DBT              | CORP              | LU        |   4841169 | PA      | $4758869.50   | 1.41%             | 2031-06-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Telecom Argentina SA                                                                       | TECOAR 9.25 05/28/33 144A                      | CUSIP: 879273AV2<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |    211000 | PA      | $223062.17    | 0.07%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 9.375 03/14/29 6Y                       | CUSIP: 900123DH0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1879000 | PA      | $2090969.99   | 0.62%             | 2029-03-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                       | POLAND 5.375 02/12/35 10Y                      | CUSIP: 857524AH5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    896000 | PA      | $938246.40    | 0.28%             | 2035-02-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Akbank T.A.S.                                                                              | AKBNK V7.875 09/04/35 144A                     | CUSIP: 00971YAM2<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |     75000 | PA      | $77019.00     | 0.02%             | 2035-09-04      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Simpar Europe                                                                              | SIMHBZ 5.2 01/26/31 144A                       | CUSIP: 82883PAA2<br>LEI: 54930068BSUST41D5C30 | Long             | DBT              | CORP              | LU        |     85000 | PA      | $71034.50     | 0.02%             | 2031-01-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Limited                                                                     | LVIATH 6.5 06/30/27                            | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    221000 | PA      | $221759.69    | 0.07%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AI Candelaria Spain S.A.                                                                   | AICNRA 5.75 06/15/33 REGS                      | CUSIP: 000000000<br>LEI: 213800L5KA2MJ5FKRZ02 | Long             | DBT              | CORP              | ES        |    354000 | PA      | $315807.83    | 0.09%             | 2033-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 3.875 06/12/30                          | CUSIP: 105756CC2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    959000 | PA      | $924476.00    | 0.27%             | 2030-06-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NBK Tier 1 Ltd.                                                                            | NTBKKK V6.375 PERP 144A                        | CUSIP: 62879NAB3<br>LEI: 5493000G4QCCEE8YHF19 | Long             | DBT              | CORP              | AE        |    145000 | PA      | $148159.55    | 0.04%             | N/A             | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 6.375 01/30/34 144A                     | CUSIP: 77586RAU4<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   2042000 | PA      | $2156648.09   | 0.64%             | 2034-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 4.5 02/01/36 REGS                       | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    398503 | PA      | $239101.76    | 0.07%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Eldorado International Finance GMBH                                                        | ECELUP 8.5 12/01/32 144A                       | CUSIP: 284697AC3<br>LEI: 2549002HQE45WFK9EY03 | Long             | DBT              | CORP              | AT        |    159000 | PA      | $165382.26    | 0.05%             | 2032-12-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| El Salvador (Republic of)                                                                  | ELSALV 7.1246 01/20/50 REGS                    | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    459000 | PA      | $415739.25    | 0.12%             | 2050-01-20      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 5.375 07/24/44 30Y                        | CUSIP: 836205AS3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    692000 | PA      | $581280.00    | 0.17%             | 2044-07-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                                         | DOMREP 6.95 03/15/37 REGS                      | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   3414000 | PA      | $3666636.00   | 1.08%             | 2037-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Costa Rica (Republic Of)                                                                   | COSTAR 6.55 04/03/34 144A                      | CUSIP: 221597CR6<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |    555000 | PA      | $602591.25    | 0.18%             | 2034-04-03      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 5.75 03/24/35 144A                      | CUSIP: 77586RAV2<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    484000 | PA      | $489324.00    | 0.14%             | 2035-03-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                                                                      | REPHUN 2.125 09/22/31 REGS                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1653000 | PA      | $1444722.00   | 0.43%             | 2031-09-22      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Turkcell Iletisim Hizmetleri AS                                                            | TCELLT 7.65 01/24/32 144A                      | CUSIP: 900111AD7<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    140000 | PA      | $149406.60    | 0.04%             | 2032-01-24      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 4.5 04/17/30 144A                          | CUSIP: 80413TAH2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   2481000 | PA      | $2509680.36   | 0.74%             | 2030-04-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ghana (Republic of)                                                                        | GHANA 5 07/03/35 REGS                          | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |   2711952 | PA      | $2453808.07   | 0.72%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Sri Lanka (Democratic Socialist Republic of)                                               | SRILAN 3.6 02/15/38 144A                       | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |   1544711 | PA      | $1535628.02   | 0.45%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 6.625 02/17/45 31Y                      | CUSIP: 900123CG3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    301000 | PA      | $276318.00    | 0.08%             | 2045-02-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Guatemala (Republic of)                                                                    | GUATEM 3.7 10/07/33 144A                       | CUSIP: 401494AT6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    643000 | PA      | $584229.80    | 0.17%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Oman (Sultanate Of)                                                                        | OMAN 6.75 01/17/48 144A                        | CUSIP: 682051AJ6<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |   1066000 | PA      | $1174326.92   | 0.35%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 3.5 02/12/34                               | CUSIP: 91087BAR1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   2572000 | PA      | $2251786.00   | 0.66%             | 2034-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Adecoagro SA                                                                               | AGRO 7.5 07/29/32 144A                         | CUSIP: 00676LAC0<br>LEI: 529900Q00UR5LFELO811 | Long             | DBT              | CORP              | LU        |    156000 | PA      | $150345.00    | 0.04%             | 2032-07-29      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Foresea Holding SA                                                                         | FORSEA 7.5 06/15/30 144A                       | CUSIP: 262051AA3<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |    269000 | PA      | $262506.34    | 0.08%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sri Lanka (Democratic Socialist Republic of)                                               | SRILAN 3.35 03/15/33 144A                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    867823 | PA      | $809841.58    | 0.24%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Trinidad And Tobago (Republic Of)                                                          | TRITOB 5.95 01/14/31 REGS                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |    385000 | PA      | $394089.85    | 0.12%             | 2031-01-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Bulgaria (Republic Of)                                                                     | BGARIA 4.125 07/18/45 20Y                      | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |   1262000 | PA      | $1472539.46   | 0.43%             | 2045-07-18      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                         | PERU 5.375 02/08/35                            | CUSIP: 715638EB4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    651000 | PA      | $672157.50    | 0.20%             | 2035-02-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ecuador (Republic Of)                                                                      | ECUA 5 07/31/40 REGS                           | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |   1201000 | PA      | $980027.53    | 0.29%             | 2040-07-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Neon Capital Limited                                                                       | NEONCA V0 01/01/28                             | CUSIP: 000000000<br>LEI: 549300K1NZTY5QS1NO76 | Long             | DBT              | CORP              | KY        |  58991889 | PA      | $365249.94    | 0.11%             | 2028-01-01      | Variable      | 0.01%                 | No            |                  3 | On Loan: No      |
| Indonesia (Republic of)                                                                    | INDON 4.75 09/10/34                            | CUSIP: 455780DX1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    717000 | PA      | $713334.34    | 0.21%             | 2034-09-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DP World Ltd.                                                                              | DPWDU 6.85 07/02/37 144A                       | CUSIP: 23330JAA9<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |   1255000 | PA      | $1407557.80   | 0.42%             | 2037-07-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 3.75 01/21/55 144A                         | CUSIP: 80413TAR0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1029000 | PA      | $741844.69    | 0.22%             | 2055-01-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Limak Yenilenebilir Enerji AS                                                              | LIMYEN 9.625 08/12/30 144A                     | CUSIP: 53263MAA0<br>LEI: 789000WFO2FHRONHFN18 | Long             | DBT              | CORP              | TR        |     34000 | PA      | $34180.54     | 0.01%             | 2030-08-12      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                                    | SASOL 4.375 09/18/26                           | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    270000 | PA      | $267742.80    | 0.08%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                                              | NGERIA 9.625 06/09/31 144A                     | CUSIP: 65412AFC1<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   2596000 | PA      | $2934284.76   | 0.87%             | 2031-06-09      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GENERACION MEDITERRANEA SA                                                                 | ALBAAR 11 11/01/31 144A                        | CUSIP: 36875KAJ0<br>LEI: 529900OOUXIUDG4V4468 | Long             | DBT              | CORP              | AR        |    145000 | PA      | $101862.50    | 0.03%             | 2031-11-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Zambia (Republic Of)                                                                       | ZAMBIN 0.5 12/31/53 144A                       | CUSIP: 988895AR9<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |       471 | PA      | $344.93       | 0.00%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Hazine Mustesarligi Varlik Kiralama AS                                                     | TURKSK 8.5091 01/14/29 144A                    | CUSIP: 421790AK2<br>LEI: 6354003QFJP7RDXEOZ20 | Long             | DBT              | NUSS              | TR        |   1387000 | PA      | $1508362.50   | 0.45%             | 2029-01-14      | Fixed         | 8.51%                 | No            |                  2 | On Loan: No      |
| Georgian Railway LLC                                                                       | GRAIL 4 06/17/28 144A                          | CUSIP: 37363BAB4<br>LEI: 2138005UZV4ZT2B2ZO19 | Long             | DBT              | CORP              | GE        |    300000 | PA      | $287250.00    | 0.08%             | 2028-06-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sri Lanka (Democratic Socialist Republic of)                                               | SRILAN 3.1 01/15/30 144A                       | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    360433 | PA      | $359351.59    | 0.11%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Adani Electricity Mumbai Ltd.                                                              | ADANEM 3.949 02/12/30 REGS                     | CUSIP: 000000000<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |    294000 | PA      | $278770.80    | 0.08%             | 2030-02-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                         | PERU 5.875 08/08/54                            | CUSIP: 715638EC2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1726000 | PA      | $1742828.50   | 0.51%             | 2054-08-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Philippines (Republic Of)                                                                  | PHILIP 1.95 01/06/32                           | CUSIP: 718286CN5<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   2932000 | PA      | $2578327.50   | 0.76%             | 2032-01-06      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| INDONESIA ASAHAN ALUMINIUM (PERSERO) PT                                                    | IDASAL 5.8 05/15/50 144A                       | CUSIP: 74445PAG7<br>LEI: 2549008P48EB9SN2OI80 | Long             | DBT              | CORP              | ID        |   2315000 | PA      | $2219529.40   | 0.66%             | 2050-05-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 3.25 10/22/30 REGS                         | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    978000 | PA      | $937784.64    | 0.28%             | 2030-10-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 7.375 04/25/30                           | CUSIP: 195325ER2<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    859000 | PA      | $902293.60    | 0.27%             | 2030-04-25      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 6.25 05/22/36                           | CUSIP: 105756CQ1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1309000 | PA      | $1321435.50   | 0.39%             | 2036-05-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao SA                                                                       | SAMMIN 9.5 06/30/31 144A                       | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    286348 | PA      | $287688.11    | 0.08%             | 2031-06-30      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Limited                                                                 | ESKOM 8.45 08/10/28 144A                       | CUSIP: 29646AAD8<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |   2533000 | PA      | $2715857.27   | 0.80%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                                    | USD/TRY FORWARD                                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4428.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Venezuela (Republic Of)                                                                    | VENZ 6 12/09/20                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |   1038000 | PA      | $362262.00    | 0.11%             | 2020-12-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                                    | CDEL 3.7 01/30/50 144A                         | CUSIP: 21987BBA5<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    555000 | PA      | $402688.58    | 0.12%             | 2050-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Virtus Opportunities Trust                                                                 | Virtus Stone Harbor Emerging Markets Bond Fund | CUSIP: 92828Y599<br>LEI: 549300O4C4QVD88M4N75 | Long             | EC               | RF                | US        |    250947 | NS      | $2047727.12   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                           | VEDLN 9.475 07/24/30 144A                      | CUSIP: 92243XAM3<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    132000 | PA      | $138885.12    | 0.04%             | 2030-07-24      | Fixed         | 9.47%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                               | ENOIGA 5.375 03/30/28                          | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     21000 | PA      | $20653.92     | 0.01%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Angola (Republic of)                                                                       | ANGOL 8 11/26/29 144A                          | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1214000 | PA      | $1207930.00   | 0.36%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ecuador (Republic Of)                                                                      | ECUA 9.25 01/29/39 144A                        | CUSIP: 27927WAR3<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |   1983000 | PA      | $2016711.00   | 0.60%             | 2039-01-29      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 5.875 06/22/30 12Y                        | CUSIP: 836205AY0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    934000 | PA      | $966223.00    | 0.29%             | 2030-06-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Russian Federation                                                                         | RUSSIA 5.1 03/28/35 REGS                       | CUSIP: 000000000<br>LEI: 5493004EHVGF71PDBU58 | Long             | DBT              | NUSS              | RU        |    100000 | PA      | $0.00         | 0.00%             | 2035-03-28      | Fixed         | 5.10%                 | No            |                  3 | On Loan: No      |
| ATP TOWER HOLDINGS LLC                                                                     | ATPTOW 7.875 02/03/30 144A                     | CUSIP: 00193BAA0<br>LEI: 254900CIKL1FQZ45N873 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206550.00    | 0.06%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                                    | INDON 2.15 07/28/31                            | CUSIP: 455780CY0<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |   2639000 | PA      | $2356132.19   | 0.70%             | 2031-07-28      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 6.125 03/15/34                          | CUSIP: 105756CH1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    395000 | PA      | $404578.75    | 0.12%             | 2034-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 4 02/01/32 REGS                         | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   3833740 | PA      | $2971148.50   | 0.88%             | 2032-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Guatemala (Republic of)                                                                    | GUATEM 5.25 08/10/29 144A                      | CUSIP: 401494AV1<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    560000 | PA      | $569625.00    | 0.17%             | 2029-08-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Senegal (Republic of)                                                                      | SENEGL 4.75 03/13/28 REGS                      | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    473000 | PA      | $443098.97    | 0.13%             | 2028-03-13      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Gran Tierra Energy Inc                                                                     | GTE 9.75 04/15/31 144A                         | CUSIP: 38500TAD3<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |     39000 | PA      | $31395.00     | 0.01%             | 2031-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 7.25 01/12/56                           | CUSIP: 105756CN8<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    643000 | PA      | $653288.00    | 0.19%             | 2056-01-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MSU Energy S.A.                                                                            | MSUNRG 9.75 12/05/30 144A                      | CUSIP: 55377JAC1<br>LEI: 529900D1ZX75KRP2HC66 | Long             | DBT              | CORP              | AR        |    311100 | PA      | $312385.87    | 0.09%             | 2030-12-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Benin (The Republic of)                                                                    | BENIN 7.96 02/13/38 144A                       | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    434000 | PA      | $455053.17    | 0.13%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| PT Freeport Indonesia                                                                      | FRIDPT 5.315 04/14/32 REGS                     | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |    105000 | PA      | $107155.13    | 0.03%             | 2032-04-14      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Petroleos del Peru - Petroperu SA                                                          | PETRPE 4.75 06/19/32 REGS                      | CUSIP: 000000000<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    871000 | PA      | $639923.70    | 0.19%             | 2032-06-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Trinidad And Tobago (Republic Of)                                                          | TRITOB 6.4 06/26/34 144A                       | CUSIP: 896292AM1<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |    577000 | PA      | $585655.00    | 0.17%             | 2034-06-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                                    | CDEL 6.33 01/13/35 144A                        | CUSIP: 21987BBL1<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    925000 | PA      | $999402.38    | 0.30%             | 2035-01-13      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                                  | ARAMCO 5.875 07/17/64 144A                     | CUSIP: 80414L2Q7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |   1269000 | PA      | $1230930.00   | 0.36%             | 2064-07-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Costa Rica (Republic Of)                                                                   | COSTAR 7 04/04/44 REGS                         | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |    864000 | PA      | $958878.00    | 0.28%             | 2044-04-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Uruguay (Republic Of)                                                                      | URUGUA 4.975 04/20/55                          | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   2002000 | PA      | $1855854.00   | 0.55%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ADM Elektrik Dagitim AS                                                                    | ADMELE 9.5 02/05/31 144A                       | CUSIP: 00710QAA1<br>LEI: 984500CB836F7EC9CF60 | Long             | DBT              | CORP              | TR        |     55000 | PA      | $55055.00     | 0.02%             | 2031-02-05      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 5.85 07/02/32                              | CUSIP: 91087BBE9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   2006000 | PA      | $2086240.00   | 0.62%             | 2032-07-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Oman (Sultanate Of)                                                                        | OMAN 6.25 01/25/31 REGS                        | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    756000 | PA      | $811188.00    | 0.24%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SAGB 8.75 01/31/44 2044                        | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |  38000000 | PA      | $2404013.82   | 0.71%             | 2044-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mozambique (Republic of)                                                                   | MOZAM 9 09/15/31 144A                          | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |    363000 | PA      | $307279.50    | 0.09%             | 2031-09-15      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Longfor Group Holdings Ltd.                                                                | LNGFOR 3.85 01/13/32                           | CUSIP: 000000000<br>LEI: 254900UJX27B2F1JYR13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $152500.00    | 0.05%             | 2032-01-13      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                                                               | PEMEX 6.35 02/12/48                            | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1532000 | PA      | $1229276.80   | 0.36%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 5.625 02/22/36 REGS                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    770000 | PA      | $935814.16    | 0.28%             | 2036-02-22      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Trident Energy Finance PLC                                                                 | TRIEGY 12.5 11/30/29 144A                      | CUSIP: 89616MAB6<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |    166000 | PA      | $173893.30    | 0.05%             | 2029-11-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| KSA Ijarah Sukuk Ltd.                                                                      | KSA 4.875 09/09/35 144A                        | CUSIP: 50116FAB8<br>LEI: 558600OCHJOSSXHWLV71 | Long             | DBT              | NUSS              | KY        |   1106000 | PA      | $1114295.00   | 0.33%             | 2035-09-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 5.65 09/27/47 30Y                         | CUSIP: 836205AX2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    944000 | PA      | $796736.00    | 0.24%             | 2047-09-27      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Sri Lanka (Democratic Socialist Republic of)                                               | SRILAN 4 04/15/28 144A                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    250709 | PA      | $243500.72    | 0.07%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Orbia Advance Corp S A B De Cv                                                             | ORBIA 7.5 05/13/35 144A                        | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    221000 | PA      | $222069.64    | 0.07%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 4.5 02/01/36 144A                       | CUSIP: 903724CC4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    579731 | PA      | $347838.60    | 0.10%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Banco Davivienda SA                                                                        | DAVIVI V6.65 PERP 144A                         | CUSIP: 059501AD8<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |    248000 | PA      | $230640.00    | 0.07%             | N/A             | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                           | CFELEC 6.45 01/24/35 144A                      | CUSIP: 200447AP5<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    923000 | PA      | $956581.05    | 0.28%             | 2035-01-24      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Republic of Iraq CLN                                                                       | Republic of Iraq CLN                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IQ        | 129540472 | PA      | $810348.59    | 0.24%             | 2028-01-01      | Floating      | 2.54%                 | No            |                  3 | On Loan: No      |
| Costa Rica (Republic Of)                                                                   | COSTAR 7.3 11/13/54 144A                       | CUSIP: 221597CV7<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |   1284000 | PA      | $1466701.13   | 0.43%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 5.375 03/22/33                             | CUSIP: 91087BBK5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1561000 | PA      | $1566619.60   | 0.46%             | 2033-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Jamaica (Government of)                                                                    | JAMAN 8 03/15/39                               | CUSIP: 470160AV4<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |   1087000 | PA      | $1313639.50   | 0.39%             | 2039-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Oman (Sultanate Of)                                                                        | OMAN 6.5 03/08/47 144A                         | CUSIP: 682051AF4<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |   4082000 | PA      | $4416724.00   | 1.30%             | 2047-03-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bermuda (Government of)                                                                    | BERMUD 3.375 08/20/50 REGS                     | CUSIP: 000000000<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |   2571000 | PA      | $1816565.76   | 0.54%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Angola (Republic of)                                                                       | ANGOL 8.75 04/14/32 144A                       | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    191000 | PA      | $187381.91    | 0.06%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 8 11/14/35                               | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   2250000 | PA      | $2401312.50   | 0.71%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Medco Laurel Tree Pte Ltd.                                                                 | MEDCIJ 6.95 11/12/28 144A                      | CUSIP: 58406RAA6<br>LEI: 254900SX7FFGRREZD046 | Long             | DBT              | CORP              | SG        |    150000 | PA      | $150657.00    | 0.04%             | 2028-11-12      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Uzbekistan (The Republic of)                                                               | UZBEK 3.7 11/25/30 144A                        | CUSIP: 91822Q2C0<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |      5000 | PA      | $4711.70      | 0.00%             | 2030-11-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                               | ENOIGA 5.875 03/30/31                          | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |    254000 | PA      | $244317.52    | 0.07%             | 2031-03-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Perusahaan Listrik Negara PT                                                               | PLNIJ 5.25 10/24/42 REGS                       | CUSIP: 71568QAB3<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |    783000 | PA      | $724079.25    | 0.21%             | 2042-10-24      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 3R Lux S.a.r.l                                                                             | RRRPBZ 9.75 02/05/31 144A                      | CUSIP: 88563PAA6<br>LEI: 9845007D0DF0BEFD8D97 | Long             | DBT              | CORP              | LU        |    258000 | PA      | $269610.00    | 0.08%             | 2031-02-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 4 02/01/32 144A                         | CUSIP: 903724CH3<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    417000 | PA      | $323175.00    | 0.10%             | 2032-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 6 05/25/34 144A                         | CUSIP: 77586RAP5<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1159000 | PA      | $1195218.75   | 0.35%             | 2034-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                                    | CDEL 5.95 01/08/34 144A                        | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   1257000 | PA      | $1331333.95   | 0.39%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Volcan Compania Minera S.A.A.                                                              | VOLCAN 8.5 10/28/32 144A                       | CUSIP: 92863UAD8<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |    149000 | PA      | $155896.09    | 0.05%             | 2032-10-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico S. A. B. De C. V.                                                         | AEROMX 8.625 11/15/31 144A                     | CUSIP: 40054JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    236000 | PA      | $242409.10    | 0.07%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 6 05/25/34 REGS                         | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    704000 | PA      | $726000.00    | 0.21%             | 2034-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                                                                      | REPHUN 5.5 03/26/36 144A                       | CUSIP: 445545AU0<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   3944000 | PA      | $3995272.00   | 1.18%             | 2036-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Azule Energy Finance PLC                                                                   | AZURGY 8.125 01/23/30 144A                     | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    167000 | PA      | $169610.76    | 0.05%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 0 02/01/30 144A                         | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    111976 | PA      | $71888.59     | 0.02%             | 2030-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Metinvest B.V.                                                                             | METINV 7.75 10/17/29 144A                      | CUSIP: 591555AF4<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $222500.00    | 0.07%             | 2029-10-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                                                                     | PERTIJ 6 05/03/42 REGS                         | CUSIP: 000000000<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |    561000 | PA      | $564755.22    | 0.17%             | 2042-05-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                       | PABONT 3.362 06/30/31 DOM                      | CUSIP: 000000000<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   2575000 | PA      | $2355017.75   | 0.70%             | 2031-06-30      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| Metinvest B.V.                                                                             | METINV 8.5 04/23/26 REGS                       | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $197500.99    | 0.06%             | 2026-04-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                                          | LEBAN 8.25 04/12/21 REGS                       | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   6621000 | PA      | $1943263.50   | 0.57%             | 2021-04-12      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 6.625 03/15/35                          | CUSIP: 105756CL2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   4016000 | PA      | $4216800.00   | 1.25%             | 2035-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Buenos Aires (Province Of)                                                                 | BUENOS 6.625 09/01/37 REGS                     | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |   2224365 | PA      | $1756469.66   | 0.52%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Ihs Holding Limited                                                                        | IHS 8.25 11/29/31 144A                         | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     35000 | PA      | $37277.45     | 0.01%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 6.5 01/03/35                            | CUSIP: 900123DN7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    822000 | PA      | $816624.12    | 0.24%             | 2035-01-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banco Mercantil Del Norte SA Cayman Islands Branch                                         | BANORT V8.375 PERP 144a                        | CUSIP: 05971PAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    418000 | PA      | $445755.20    | 0.13%             | N/A             | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PETRONAS Capital Ltd.                                                                      | PETMK 4.55 04/21/50 REGS                       | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |   1219000 | PA      | $1091561.72   | 0.32%             | 2050-04-21      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Medco Bell Pte Ltd                                                                         | MEDCIJ 6.375 01/30/27 REGS                     | CUSIP: 000000000<br>LEI: 2549003PNDCWIWGKC768 | Long             | DBT              | CORP              | SG        |     70000 | PA      | $70000.00     | 0.02%             | 2027-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 8.75 11/14/53                            | CUSIP: 195325EM3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    525000 | PA      | $576607.50    | 0.17%             | 2053-11-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 6 05/07/36                                 | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1606000 | PA      | $1648157.50   | 0.49%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                                                               | PEMEX 6.7 02/16/32                             | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1074000 | PA      | $1077114.60   | 0.32%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Kazakhstan (Republic Of)                                                                   | KAZAKS 5.5 07/01/37 144A                       | CUSIP: 486661BP5<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   1509000 | PA      | $1556216.61   | 0.46%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Adani Ports And Special Economic Zone Ltd.                                                 | ADSEZ 3.1 02/02/31 144A                        | CUSIP: 00652MAH5<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |    255000 | PA      | $232241.25    | 0.07%             | 2031-02-02      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Abu Dhabi (Emirate of)                                                                     | ADGB 3 09/15/51 144A                           | CUSIP: 29135LAR1<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |    767000 | PA      | $526560.84    | 0.16%             | 2051-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bermuda (Government of)                                                                    | BERMUD 4.75 02/15/29 144A                      | CUSIP: 085209AF1<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |    415000 | PA      | $420959.40    | 0.12%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PETRONAS Capital Ltd.                                                                      | PETMK 3.404 04/28/61 REGS                      | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    593000 | PA      | $409919.14    | 0.12%             | 2061-04-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Energo-Pro AS                                                                              | ENGPRO 8 05/27/30 144A                         | CUSIP: 000000000<br>LEI: 315700IQCL9IX158RO36 | Long             | DBT              | CORP              | CZ        |    100000 | PA      | $125545.00    | 0.04%             | 2030-05-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Kenya (Republic of)                                                                        | KENINT 9.5 03/05/36 144A                       | CUSIP: 491798AN4<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   1953000 | PA      | $2052114.75   | 0.61%             | 2036-03-05      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 5.75 07/04/36 144A                      | CUSIP: 775921AA7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1008000 | PA      | $1004976.00   | 0.30%             | 2036-07-04      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Trinidad And Tobago (Republic Of)                                                          | TRITOB 6.5 01/28/36 144A                       | CUSIP: 896292AN9<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |   2114000 | PA      | $2138839.50   | 0.63%             | 2036-01-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Senegal (Republic of)                                                                      | SENEGL 6.25 05/23/33 REGS                      | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    543000 | PA      | $334998.42    | 0.10%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Minejesa Capital BV                                                                        | MINCAP 5.625 08/10/37 144A                     | CUSIP: 602736AB6<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $346473.75    | 0.10%             | 2037-08-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                                                                      | REPHUN 6.25 09/22/32 144A                      | CUSIP: 445545AS5<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    486000 | PA      | $522017.46    | 0.15%             | 2032-09-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                                                         | DOMREP 6.95 03/15/37 144A                      | CUSIP: 25714PFB9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    839000 | PA      | $901086.00    | 0.27%             | 2037-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Ihs Holding Limited                                                                        | IHS 7.875 05/29/30 144A                        | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    128000 | PA      | $133600.00    | 0.04%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Argentina (Republic Of)                                                                    | ARGENT 0.75 07/09/30                           | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   5423040 | PA      | $4590837.64   | 1.36%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Limited                                                                | STCITY 5 01/15/29 144A                         | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    610000 | PA      | $590175.00    | 0.17%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 5.5 11/06/30                            | CUSIP: 105756CM0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1413000 | PA      | $1455390.00   | 0.43%             | 2030-11-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Zambia (Republic Of)                                                                       | ZAMBIN 5.75 06/30/33 144A                      | CUSIP: 988895AQ1<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    452519 | PA      | $440074.75    | 0.13%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| El Salvador (Republic of)                                                                  | ELSALV 7.625 02/01/41 REGS                     | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    897000 | PA      | $896617.34    | 0.26%             | 2041-02-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                       | PANAMA 5.227 02/23/34                          | CUSIP: 698299CB8<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1408000 | PA      | $1407143.51   | 0.42%             | 2034-02-23      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                       | PANAMA 6.853 03/28/54                          | CUSIP: 698299BV5<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    422000 | PA      | $457026.00    | 0.13%             | 2054-03-28      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Adani Ports And Special Economic Zone Ltd.                                                 | ADSEZ 4.2 08/04/27 144A                        | CUSIP: 00652MAG7<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     72000 | PA      | $71154.72     | 0.02%             | 2027-08-04      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HTA Group Limited (Mauritius)                                                              | HLSTWR 7.5 06/04/29 144A                       | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    255000 | PA      | $263514.88    | 0.08%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                                                                      | REPHUN 6 09/26/35 144A                         | CUSIP: 445545AW6<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1589000 | PA      | $1673423.57   | 0.49%             | 2035-09-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mong Duong Finance Holdings B V                                                            | MONDFI 5.125 05/07/29 144A                     | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    142527 | PA      | $141884.11    | 0.04%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                                    | SASOL 6.5 09/27/28                             | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273034.71    | 0.08%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Neon Capital Limited                                                                       | NEONCA V0 01/06/28 EMTN                        | CUSIP: 000000000<br>LEI: 549300K1NZTY5QS1NO76 | Long             | DBT              | CORP              | KY        | 127286866 | PA      | $794539.34    | 0.23%             | 2028-01-05      | Variable      | 0.01%                 | No            |                  3 | On Loan: No      |
| SAB AT1 Ltd.                                                                               | SABBAB V6.5 PERP EMTN                          | CUSIP: 000000000<br>LEI: 254900G0214VUC31CW54 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204614.00    | 0.06%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Kenya (Republic of)                                                                        | KENINT 7.875 10/09/33 144A                     | CUSIP: 491798AP9<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   1093000 | PA      | $1088901.25   | 0.32%             | 2033-10-09      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 7.125 05/13/54                          | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    192000 | PA      | $195544.32    | 0.06%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Pakistan (Islamic Republic of)                                                             | PKSTAN 7.375 04/08/31 144A                     | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |   2135000 | PA      | $2108312.50   | 0.62%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                                  | EUR/USD FORWARD                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-68280.46    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 7.25 05/29/32                           | CUSIP: 900123DQ0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1683000 | PA      | $1767671.73   | 0.52%             | 2032-05-29      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Perusahaan Listrik Negara PT                                                               | PLNIJ 4 06/30/50 REGS                          | CUSIP: 71568QAP2<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |    716000 | PA      | $525365.00    | 0.16%             | 2050-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chile Electricity Luxembourg Mpc II S.a.r.l.                                               | CHLMPC 5.58 10/20/35 144A                      | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    237534 | PA      | $245609.86    | 0.07%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Port of Spain Waterfront Development Ltd.                                                  | POSWDL 7.875 02/19/40 REGS                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |    611333 | PA      | $621267.51    | 0.18%             | 2040-02-19      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Argentina (Republic Of)                                                                    | ARGENT 3.5 07/09/41                            | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   2546000 | PA      | $1778470.11   | 0.53%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 5.75 05/11/47 30Y                       | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1895000 | PA      | $1548688.75   | 0.46%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Peru Payroll Deduction Finance Limited                                                     | PPDFL 0 11/01/29                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    603837 | PA      | $540956.19    | 0.16%             | 2029-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                                              | NGERIA 10.375 12/09/34 144A                    | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1652000 | PA      | $1969142.70   | 0.58%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                        | CHILE 2.55 01/27/32                            | CUSIP: 168863DN5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    261000 | PA      | $236335.50    | 0.07%             | 2032-01-27      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Uzbekneftegaz JSC                                                                          | UNGUZB 8.75 05/07/30 144A                      | CUSIP: 91825MAC7<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | CORP              | UZ        |   1951000 | PA      | $2129638.44   | 0.63%             | 2030-05-07      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 7.903 02/21/48 144A                      | CUSIP: 03846JW55<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1609000 | PA      | $1451318.00   | 0.43%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| Ivory Coast (Republic Of)                                                                  | IVYCST 6.75 02/25/41 144A                      | CUSIP: 221625AX4<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    208000 | PA      | $198432.00    | 0.06%             | 2041-02-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mc Brazil Downstream Trading Sarl                                                          | MCBRAC 7.25 06/30/31 144A                      | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    300848 | PA      | $258541.22    | 0.08%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Uruguay (Republic Of)                                                                      | URUGUA 5.1 06/18/50                            | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    688000 | PA      | $661168.00    | 0.20%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Limited                                                              | MPEL 5.375 12/04/29 144A                       | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     76000 | PA      | $75114.90     | 0.02%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PETRONAS Capital Ltd.                                                                      | PETMK 5.848 04/03/55 144A                      | CUSIP: 716743AX7<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |   1526000 | PA      | $1622595.80   | 0.48%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 6.875 04/30/40 144A                      | CUSIP: 038461AF6<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    332000 | PA      | $302847.08    | 0.09%             | 2040-04-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sri Lanka (Democratic Socialist Republic of)                                               | SRILAN 3.6 06/15/35 144A                       | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |   1065981 | PA      | $870906.64    | 0.26%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                           | VEDLN 10.875 09/17/29 144A                     | CUSIP: 92243XAH4<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     69000 | PA      | $73744.99     | 0.02%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                        | CHILE 3.5 04/15/53                             | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   3253000 | PA      | $2395021.25   | 0.71%             | 2053-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 0 02/01/36 144A                         | CUSIP: 903724CG5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   1854000 | PA      | $1046583.00   | 0.31%             | 2036-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Uzbekistan (The Republic of)                                                               | UZBEK 7.85 10/12/28 144A                       | CUSIP: 91822QVX2<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    512000 | PA      | $547998.72    | 0.16%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| National Power Company Ukrenergo Private Joint Stock Company                               | NPCUKR 6.875 11/09/28 144A                     | CUSIP: 63718LAA2<br>LEI: 8945009LCLS92V4AK321 | Long             | DBT              | CORP              | UA        |    502000 | PA      | $467400.75    | 0.14%             | 2028-11-09      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Kingdom Of Bahrain Acting Through Ministry Of Finance (The)                                | BHRAIN 7.1 02/03/38 144A                       | CUSIP: 056909AB0<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | CORP              | BH        |   4793000 | PA      | $4812172.00   | 1.42%             | 2038-02-03      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 7.125 02/12/32 7Y                       | CUSIP: 900123DP2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   2647000 | PA      | $2771409.00   | 0.82%             | 2032-02-12      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 4.875 01/12/36 144A                        | CUSIP: 80413TBR9<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   2464000 | PA      | $2473856.00   | 0.73%             | 2036-01-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Kyrgyzstan (Republic of)                                                                   | KYRGYZ 7.75 06/03/30 144A                      | CUSIP: 50158LAA6<br>LEI: N/A                  | Long             | DBT              | NUSS              | KG        |   2015000 | PA      | $2104415.63   | 0.62%             | 2030-06-03      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco S.a.r.l.                                                               | MEXPCP 5.5 08/17/30 144A                       | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |   3937000 | PA      | $4015740.00   | 1.19%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clean Renewable Power Mauritius Pte Ltd.                                                   | CLRNPW 4.25 03/25/27 144A                      | CUSIP: 18452NAB0<br>LEI: 2138003P9CSDW7P4MT75 | Long             | DBT              | CORP              | MU        |     66990 | PA      | $65733.94     | 0.02%             | 2027-03-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PETRONAS Capital Ltd.                                                                      | PETMK 4.8 04/21/60 REGS                        | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    712000 | PA      | $649657.28    | 0.19%             | 2060-04-21      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Constellation Oil Services Holding SA                                                      | COSHSA 9.375 11/07/29 144A                     | CUSIP: 650921AA7<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    211000 | PA      | $220030.80    | 0.06%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                                                                       | TURKEY 6.95 09/16/35                           | CUSIP: 900123DR8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   1721000 | PA      | $1750257.00   | 0.52%             | 2035-09-16      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| DP World Ltd.                                                                              | DPWDU 4.7 09/30/49 REGS                        | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    500000 | PA      | $432625.00    | 0.13%             | 2049-09-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CSN Resources S.A.                                                                         | CSNABZ 4.625 06/10/31 144A                     | CUSIP: 12644VAD0<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    233000 | PA      | $163391.25    | 0.05%             | 2031-06-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                                    | INDON 5.6 01/15/35                             | CUSIP: 455780EA0<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |   1295000 | PA      | $1365609.88   | 0.40%             | 2035-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                               | EUR/USD FORWARD                                | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-119.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYTB 0 04/28/26 364D                          | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        | 114100000 | PA      | $2285890.58   | 0.68%             | 2026-04-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Oman (Sultanate Of)                                                                        | OMAN 6.25 01/25/31 144A                        | CUSIP: 68205LAS2<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |   3118000 | PA      | $3345614.00   | 0.99%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CPI Property Group S.A.                                                                    | CPIPGR 6 01/27/32 EMTN                         | CUSIP: 000000000<br>LEI: 222100CO2ZOTEPGJO223 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $299166.35    | 0.09%             | 2032-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production BV                                                              | YPMQBR 8.498 01/31/45 144A                     | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |    139125 | PA      | $148011.29    | 0.04%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Argentina (Republic Of)                                                                    | ARGENT 4.125 07/09/46                          | CUSIP: 040114HW3<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   4824955 | PA      | $3431145.80   | 1.01%             | 2046-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Saudi Arabia (Kingdom of)                                                                  | KSA 5.625 01/13/35 144A                        | CUSIP: 80413TBL2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    555000 | PA      | $591516.23    | 0.17%             | 2035-01-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Fs Luxembourg SARL                                                                         | FSBIOE 8.125 02/11/36 144A                     | CUSIP: 30315XAE4<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |    172000 | PA      | $161714.97    | 0.05%             | 2036-02-11      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Virtus Opportunities Trust                                                                 | Virtus Stone Harbor Local Markets Fund         | CUSIP: 92828Y516<br>LEI: 549300O4C4QVD88M4N75 | Long             | EC               | RF                | US        |    699402 | NS      | $6196699.55   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| OCP SA                                                                                     | OCPMR 7.5 05/02/54 144A                        | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    231000 | PA      | $259173.15    | 0.08%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Philippines (Republic Of)                                                                  | PHILIP 5 01/13/37                              | CUSIP: 718286BW6<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1456000 | PA      | $1474928.00   | 0.44%             | 2037-01-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                                  | JPY/USD FORWARD                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1878.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Braskem Netherlands Finance B V                                                            | BRASKM 4.5 01/31/30 144A                       | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    156000 | PA      | $65707.20     | 0.02%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IHS Netherlands Holdco BV                                                                  | IHS 8 09/18/27 144A                            | CUSIP: 44963LAC0<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | NL        |    200743 | PA      | $201545.73    | 0.06%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GABON, GOVERNMENT OF                                                                       | GABON 9.5 02/18/29 4Y                          | CUSIP: 000000000<br>LEI: 213800XA7X746GRPXA35 | Long             | DBT              | NUSS              | GA        |   1121000 | PA      | $1031320.00   | 0.30%             | 2029-02-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GeoPark Ltd.                                                                               | GEOPAR 8.75 01/31/30 144A                      | CUSIP: 37255BAC3<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | BM        |    189000 | PA      | $179512.20    | 0.05%             | 2030-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 5 04/27/51                                 | CUSIP: 91087BAL4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    686000 | PA      | $563206.00    | 0.17%             | 2051-04-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HTA Group Limited (Mauritius)                                                              | HLSTWR 2.875 03/18/27                          | CUSIP: 000000000<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    400000 | PA      | $430931.04    | 0.13%             | 2027-03-18      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Limited                                                                     | LVIATH 6.75 06/30/30                           | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |     70000 | PA      | $72135.00     | 0.02%             | 2030-06-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic Of)                                                                     | COLOM 8 04/20/33                               | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   3639000 | PA      | $3895549.50   | 1.15%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 5.75 09/30/49 30Y                         | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1041000 | PA      | $875741.25    | 0.26%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Vfu Funding PLC                                                                            | VODUKR 9.625 02/11/27 144A                     | CUSIP: 918212AA9<br>LEI: 213800C9OW7RIPPP6Z96 | Long             | DBT              | CORP              | GB        |    150045 | PA      | $150045.00    | 0.04%             | 2027-02-11      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                                  | JPY/USD FORWARD                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5126.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brazil (Federative Republic)                                                               | BRAZIL 6 10/20/33                              | CUSIP: 105756CF5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   2110000 | PA      | $2156947.50   | 0.64%             | 2033-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY (UP) LTD                                                                | ADGREG 6.7 03/12/42 144A                       | CUSIP: 00654AAC0<br>LEI: 335800NT8W2YDE1C2270 | Long             | DBT              | CORP              | IN        |     37665 | PA      | $36593.65     | 0.01%             | 2042-03-12      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                                              | NGERIA 7.143 02/23/30 144A                     | CUSIP: 65412JAD5<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    417000 | PA      | $429901.98    | 0.13%             | 2030-02-23      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 0 02/01/34 REGS                         | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    195717 | PA      | $95901.17     | 0.03%             | 2034-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 7.125 01/17/33 144A                     | CUSIP: 77586RAR1<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   2911000 | PA      | $3216451.23   | 0.95%             | 2033-01-17      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                            | WESODA 9.5 10/06/28 144A                       | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    140000 | PA      | $144450.75    | 0.04%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Ivory Coast (Republic Of)                                                                  | IVYCST 8.075 04/01/36 144A                     | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1065000 | PA      | $1148219.10   | 0.34%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                                              | NGERIA 6.5 11/28/27 144A                       | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    513000 | PA      | $520854.03    | 0.15%             | 2027-11-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ghana (Republic of)                                                                        | GHANA 0 07/03/26 REGS                          | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     57792 | PA      | $56852.88     | 0.02%             | 2026-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Guatemala (Republic of)                                                                    | GUATEM 6.25 08/15/36 REGS                      | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    700000 | PA      | $741781.25    | 0.22%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 8.875 05/29/50 144A                      | CUSIP: 03846JX62<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1127000 | PA      | $1101642.50   | 0.33%             | 2050-05-29      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Suriname (Republic of)                                                                     | SURINM 8.5 11/06/35 144A                       | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |   1603000 | PA      | $1712004.00   | 0.51%             | 2035-11-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Comision Ejecutiva Hidroelectrica Del Rio Lempa                                            | CELELS 8.65 01/24/33 144A                      | CUSIP: 200444AA5<br>LEI: 254900YU43PQQ27Q0E71 | Long             | DBT              | CORP              | SV        |    693000 | PA      | $735273.00    | 0.22%             | 2033-01-24      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| Vamos Europe                                                                               | VAMOBZ 9.2 01/26/31 144a                       | CUSIP: 92049NAA7<br>LEI: 894500FA5CLVV8HLE261 | Long             | DBT              | CORP              | LU        |    152000 | PA      | $144932.00    | 0.04%             | 2031-01-26      | Fixed         | 9.20%                 | No            |                  2 | On Loan: No      |
| Zorlu Enerji Elektrik Ueretim AS                                                           | ZOREN 11 04/23/30 144A                         | CUSIP: 98977LAA4<br>LEI: 7890005B5CSNL39OYO75 | Long             | DBT              | CORP              | TR        |    113000 | PA      | $101578.53    | 0.03%             | 2030-04-23      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Jamaica (Government of)                                                                    | JAMAN 7.875 07/28/45                           | CUSIP: 470160CB6<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |    486000 | PA      | $587331.00    | 0.17%             | 2045-07-28      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ADANI TRANSMISSION STEP-ONE LTD                                                            | ADTIN 4 08/03/26 144A                          | CUSIP: 00652XAA6<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |    103000 | PA      | $102602.42    | 0.03%             | 2026-08-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| El Salvador (Republic of)                                                                  | ELSALV 7.65 06/15/35 REGS                      | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |   3074000 | PA      | $3172368.00   | 0.94%             | 2035-06-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 0 02/01/30 REGS                         | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     52373 | PA      | $33623.47     | 0.01%             | 2030-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                                       | CEMEX V7.2 PERP 144A                           | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    213000 | PA      | $224076.00    | 0.07%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                                                               | PEMEX 6.95 01/28/60                            | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   3241000 | PA      | $2668104.64   | 0.79%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Kenya (Republic of)                                                                        | KENINT 8.7 02/26/39 144A                       | CUSIP: 491798AS3<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   1344000 | PA      | $1311863.88   | 0.39%             | 2039-02-26      | Fixed         | 8.70%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                                                               | PEMEX 5.95 01/28/31                            | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    568000 | PA      | $556072.00    | 0.16%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 8.7002 03/01/49 REGS                     | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    847000 | PA      | $822911.32    | 0.24%             | 2049-03-01      | Fixed         | 8.70%                 | No            |                  2 | On Loan: No      |
| Ukraine (Republic of)                                                                      | UKRAIN 4.5 02/01/29 144A                       | CUSIP: 903724BZ4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    896670 | PA      | $686401.08    | 0.20%             | 2029-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                       | PANAMA 4.5 01/19/63                            | CUSIP: 698299BS2<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    265000 | PA      | $205308.75    | 0.06%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Banco de Credito del Peru                                                                  | BCP V6.45 07/30/35 144A                        | CUSIP: 05971U2J5<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |     71000 | PA      | $74096.03     | 0.02%             | 2035-07-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                                                                      | REPHUN 5.5 06/16/34 144A                       | CUSIP: 445545AQ9<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1262000 | PA      | $1293550.00   | 0.38%             | 2034-06-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Prosus NV                                                                                  | PRXNA 3.832 02/08/51 144A                      | CUSIP: 74365PAE8<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $170602.50    | 0.05%             | 2051-02-08      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| Ivory Coast (Republic Of)                                                                  | IVYCST 8.25 01/30/37 144A                      | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1400000 | PA      | $1528800.00   | 0.45%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)                                                                 | SOAF 6.125 12/11/37 144A                       | CUSIP: 836205BH6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1921000 | PA      | $1894106.00   | 0.56%             | 2037-12-11      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Egypt (Arab Republic of)                                                                   | EGYPT 7.0529 01/15/32 144A                     | CUSIP: 03846JX21<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1320000 | PA      | $1328580.00   | 0.39%             | 2032-01-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Philippines (Republic Of)                                                                  | PHILIP 5 07/17/33                              | CUSIP: 718286CW5<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    872000 | PA      | $898160.00    | 0.27%             | 2033-07-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ecuador (Republic Of)                                                                      | ECUA 6.9 07/31/35 REGS                         | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |   2231000 | PA      | $2024292.27   | 0.60%             | 2035-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| Access Holdings PLC                                                                        | ACCESS 6.125 09/21/26 144A                     | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |     75000 | PA      | $74718.75     | 0.02%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 5.375 06/07/33 144A                     | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1452000 | PA      | $1777876.72   | 0.53%             | 2033-06-07      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                                                                    | INDON 4.95 02/21/36                            | CUSIP: 455780EF9<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    722000 | PA      | $718682.41    | 0.21%             | 2036-02-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| YPF Sociedad Anonima                                                                       | YPFDAR 9.5 01/17/31 144A                       | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    272000 | PA      | $288320.00    | 0.09%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                                              | NGERIA 8.747 01/21/31 REGS                     | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1145000 | PA      | $1242897.50   | 0.37%             | 2031-01-21      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Philippines (Republic Of)                                                                  | PHILIP 3.7 02/02/42                            | CUSIP: 718286CB1<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1753000 | PA      | $1465841.07   | 0.43%             | 2042-02-02      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                                             | MEX 3.771 05/24/61                             | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1132000 | PA      | $708632.00    | 0.21%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                                                                      | ROMANI 6.625 05/16/36 144A                     | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    445000 | PA      | $474370.00    | 0.14%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                                                               | PEMEX 6.84 01/23/30                            | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   2049000 | PA      | $2100225.00   | 0.62%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer