# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0000940400-25-009424
**Filing Date:** 2025-11
**Character Count:** 17706
**Document Hash:** 31c563331401646cf1f6cd53f023635c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009424.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009424

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07455
- **FILM NUMBER:** 251512112

**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 KAR Emerging Markets Small-Cap Fund (Series ID: S000042963)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000133101 | Class A      | VAESX           |
| C000133102 | Class C      | VCESX           |
| C000133103 | Class I      | VIESX           |
| C000215024 | Class R6     | VRESX           |

## 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 KAR Emerging Markets Small-Cap Fund

- **b. EDGAR series identifier (if any):** S000042963

- **c. LEI of Series:** 549300DEI7G35IDMI554

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $346195993.58

**Total Liabilities:** $882483.92

**Net Assets:** $345313509.66

**Delayed Delivery Securities:** $251851.14

**Cash Not Reported:** $8349239.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133103 | -2.26%               | 1.48%                | 0.58%                |
| Class ID C000133102 | -2.35%               | 1.42%                | 0.55%                |
| Class ID C000133101 | -2.29%               | 1.50%                | 0.53%                |
| Class ID C000215024 | -2.18%               | 1.47%                | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-705128.71              | $-7331875.87                               |
| Month 2  | $2419246.80              | $1517797.20                                |
| Month 3  | $-2500463.88             | $4084150.59                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Clicks Group Ltd                   | Clicks Group Ltd                       | CUSIP: 000000000<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |    276610 | NS      | $5644958.22   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Addcn Technology Co Ltd            | Addcn Technology Co Ltd                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    805097 | NS      | $4781237.52   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Financial Services Soft     | Oracle Financial Services Software Ltd | CUSIP: 000000000<br>LEI: 3358008SYNPKSPNMTJ57 | Long             | EC               | CORP              | IN        |     30552 | NS      | $2891452.53   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Saramin Co Ltd                     | Saramin Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     34231 | NS      | $349373.09    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                      | Allegro.eu SA                          | CUSIP: 000000000<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | PL        |   1104760 | NS      | $10819179.89  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Caixa Seguridade Participacoes     | Caixa Seguridade Participacoes S/A     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   5393025 | NS      | $15270400.07  | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupa Pracuj SA/Poland             | Grupa Pracuj SA/Poland                 | CUSIP: 000000000<br>LEI: 259400BSBFEIIIDAAL82 | Long             | EC               | CORP              | PL        |   1205961 | NS      | $21898511.82  | 6.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rightmove PLC                      | Rightmove PLC                          | CUSIP: 000000000<br>LEI: 2138001JXGCFKBXYB828 | Long             | EC               | CORP              | GB        |   1434428 | NS      | $13670043.47  | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Auction PCL                  | Union Auction PCL                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |  31854400 | NS      | $6094654.53   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Kfin Technologies Ltd              | Kfin Technologies Ltd                  | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |    269081 | NS      | $3187256.13   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Avia Avian Tbk PT                  | Avia Avian Tbk PT                      | CUSIP: 000000000<br>LEI: 2549006YBXNWWWTP2773 | Long             | EC               | CORP              | ID        |  85204660 | NS      | $2086018.68   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Baltic Classifieds Group PLC       | Baltic Classifieds Group PLC           | CUSIP: 000000000<br>LEI: 213800I1RPHCFSSQS969 | Long             | EC               | CORP              | LT        |   7015085 | NS      | $29247222.23  | 8.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LEENO Industrial Inc               | LEENO Industrial Inc                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    332150 | NS      | $12191814.26  | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| VAT Group AG                       | VAT Group AG                           | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Long             | EC               | CORP              | CH        |     16450 | NS      | $6496928.58   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Chongqing Brewery Co Ltd           | Chongqing Brewery Co Ltd               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    359700 | NS      | $2707938.24   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Riverstone Holdings Ltd            | Riverstone Holdings Ltd                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |  11109200 | NS      | $6157663.48   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BR Advisory Partners Participa     | BR Advisory Partners Participacoes SA  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   1348887 | NS      | $4597456.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarana Menara Nusantara Tbk PT     | Sarana Menara Nusantara Tbk PT         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ID        | 163687486 | NS      | $5746005.36   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Optima bank SA                     | Optima bank SA                         | CUSIP: 000000000<br>LEI: 2138008NSD1X1XFUK750 | Long             | EC               | CORP              | GR        |   1007399 | NS      | $9982298.56   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Anhui Gujing Distillery Co Ltd     | Anhui Gujing Distillery Co Ltd         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    678609 | NS      | $9417918.65   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Malaysia Bhd              | Heineken Malaysia Bhd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |   1936600 | NS      | $9801492.22   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlsberg Brewery Malaysia Bhd     | Carlsberg Brewery Malaysia Bhd         | CUSIP: 000000000<br>LEI: 5493003SDA6PQJEKHM83 | Long             | EC               | CORP              | MY        |   1255000 | NS      | $4908470.95   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Kanzhun Ltd                        | Kanzhun Ltd                            | CUSIP: 48553T106<br>LEI: 254900F4ZCBITP7L0251 | Long             | EC               | CORP              | CN        |    551932 | NS      | $12893131.52  | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| S-1 Corp                           | S-1 Corp                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    151276 | NS      | $9067610.99   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                       | Kaspi.KZ JSC                           | CUSIP: 48581R106<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | GB        |     61759 | NS      | $5076688.61   | 1.47%             |  |  |  | No            |                  3 | On Loan: No      |
| Douzone Bizon Co Ltd               | Douzone Bizon Co Ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    129939 | NS      | $8233189.91   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Moctezuma SAB de CV           | Corp Moctezuma SAB de CV               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   2151991 | NS      | $9646268.66   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Humanica PCL                       | Humanica PCL                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |  14677100 | NS      | $2785501.16   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE Information Service Co Lt     | NICE Information Service Co Ltd        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    868897 | NS      | $8626731.20   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| GPS Participacoes e Empreendim     | GPS Participacoes e Empreendimentos SA | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   2653954 | NS      | $9414561.80   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Age Management Servic     | Computer Age Management Services Ltd   | CUSIP: 000000000<br>LEI: 33580012MDHMBHWN5Z06 | Long             | EC               | CORP              | IN        |    113176 | NS      | $4790959.59   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HAITIAN INT'L                      | Haitian International Holdings Ltd     | CUSIP: 000000000<br>LEI: 30030093DDRS825TVP62 | Long             | EC               | CORP              | CN        |   3693218 | NS      | $10175160.97  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTVS SA                           | TOTVS SA                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   1731388 | NS      | $14850460.28  | 4.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management     | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  11101727 | NS      | $11101726.83  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dayamitra Telekomunikasi PT        | Dayamitra Telekomunikasi PT            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |  73418400 | NS      | $2555215.84   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB Foods Inc                      | BBB Foods Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    137193 | NS      | $3698723.28   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualitas Controladora SAB de C     | Qualitas Controladora SAB de CV        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    993617 | NS      | $9059664.55   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry TJ Logistics Co Ltd          | Kerry TJ Logistics Co Ltd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |   1642000 | NS      | $1850603.71   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tegma Gestao Logistica SA          | Tegma Gestao Logistica SA              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   1766993 | NS      | $11450718.88  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Haw Par Corp Ltd                   | Haw Par Corp Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    950774 | NS      | $10466290.01  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sporton International Inc          | Sporton International Inc              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    646268 | NS      | $3795589.34   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer