Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Baidu Inc, 3.4250% 04/07/2030 $313,750
Cable Onda SA, 4.5000% 01/30/2030 $253,056
Cars.com Inc, 6.3750% 11/01/2028 $127,985
CCO Holdings LLC / CCO Holdings Capital Corp, 4.7500% 03/01/2030 $185,063
Cinemark USA Inc, 5.8750% 03/15/2026 $130,806
Clear Channel Outdoor Holdings Inc, 7.7500% 04/15/2028 $5,238
Clear Channel Worldwide Holdings Inc, 5.1250% 08/15/2027 $82,018
CSC Holdings LLC, 4.6250% 12/01/2030 $196,222
Diamond Sports Group LLC / Diamond Sports Finance Co, 5.3750% 08/15/2026 $67,988
Diamond Sports Group LLC / Diamond Sports Finance Co, 6.6250% 08/15/2027 $88,404
DISH DBS Corp, 7.7500% 07/01/2026 $124,575 iHeartCommunications Inc, 8.3750% 05/01/2027 $113,574
Live Nation Entertainment Inc, 4.7500% 10/15/2027 $181,344
Live Nation Entertainment Inc, 5.6250% 03/15/2026 $57,276
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance, 7.8750% 05/15/2024 $173,400
Nexstar Broadcasting Inc, 4.7500% 11/01/2028 $118,163
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc, 10.7500% 06/01/2028 $118,125
Radiate Holdco LLC / Radiate Finance Inc, 4.5000% 09/15/2026 $41,400
Radiate Holdco LLC / Radiate Finance Inc, 6.5000% 09/15/2028 $115,572
TripAdvisor Inc, 7.0000% 07/15/2025 $112,980
Twitter Inc, 3.8750% 12/15/2027 $276,250
Univision Communications Inc, 5.1250% 02/15/2025 $178,535
Adtalem Global Education Inc, 5.5000% 03/01/2028 $157,410
Ambience Merger Sub Inc, 4.8750% 07/15/2028 $30,075
Ambience Merger Sub Inc, 7.1250% 07/15/2029 $186,850
BCPE Ulysses Intermediate Inc, 7.7500% 04/01/2027 $117,875
1 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Caesars Entertainment Inc, 6.2500% 07/01/2025 $58,300
Caesars Entertainment Inc, 8.1250% 07/01/2027 $44,488
Carriage Services Inc, 4.2500% 05/15/2029 $109,833
Carvana Co, 5.6250% 10/01/2025 $93,488
Carvana Co, 5.8750% 10/01/2028 $94,698
Clarios Global LP / Clarios US Finance Co, 8.5000% 05/15/2027 $98,118
Cooper-Standard Automotive Inc, 13.0000% 06/01/2024 $124,300
Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.5000% 02/15/2023 $192,835
Ford Motor Co, 9.0000% 04/22/2025 $199,725
Gateway Casinos & Entertainment Ltd, 8.2500% 03/01/2024 $285,000
Golden Nugget Inc, 8.7500% 10/01/2025 $137,166
Goodyear Tire & Rubber Co/The, 5.0000% 07/15/2029 $26,175
Goodyear Tire & Rubber Co/The, 5.2500% 07/15/2031 $41,800
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.0000% 06/01/2029 $117,588
LCM Investments Holdings II LLC, 4.8750% 05/01/2029 $5,125
M/I Homes Inc, 4.9500% 02/01/2028 $166,920
Magic Mergeco Inc, 7.8750% 05/01/2029 $41,250
Mark IV Industries $2,415
Metis Merger Sub LLC, 6.5000% 05/15/2029 $73,864
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc, 4.6250% 06/15/2025 $26,709
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc, 5.7500% 02/01/2027 $94,573
Mohegan Gaming & Entertainment, 8.0000% 02/01/2026 $120,164
NCL Corp Ltd, 5.8750% 03/15/2026 $83,800
NCL Finance Ltd, 6.1250% 03/15/2028 $47,158
NMG Holding Co Inc / Neiman Marcus Group LLC, 7.1250% 04/01/2026 $117,425
NMG Parent LLC $33,062
Peninsula Pacific Entertainment LLC / Peninsula Pacific Entertainment Finance In, 8.5000% 11/15/2027 $21,480
PulteGroup Inc, 7.8750% 06/15/2032 $193,793
Royal Caribbean Cruises Ltd, 4.2500% 07/01/2026 $4,994
Royal Caribbean Cruises Ltd, 5.5000% 04/01/2028 $15,710
2 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Royal Caribbean Cruises Ltd, 9.1250% 06/15/2023 $109,750
Scientific Games International Inc, 7.0000% 05/15/2028 $43,688
Scientific Games International Inc, 8.2500% 03/15/2026 $85,798
Station Casinos LLC, 4.5000% 02/15/2028 $137,301
Tenneco Inc, 5.1250% 04/15/2029 $154,139
Under Armour Inc, 3.2500% 06/15/2026 $176,134
Weekley Homes LLC / Weekley Finance Corp, 4.8750% 09/15/2028 $108,675
Anheuser-Busch InBev Worldwide Inc, 4.7500% 01/23/2029 $315,685
BAT Capital Corp, 4.9060% 04/02/2030 $344,651
Chobani LLC / Chobani Finance Corp Inc, 7.5000% 04/15/2025 $187,274
Herbalife Nutrition Ltd / HLF Financing Inc, 7.8750% 09/01/2025 $233,813
Kraft Heinz Foods Co, 3.8750% 05/15/2027 $115,371
Post Holdings Inc, 4.5000% 09/15/2031 $144,761
Triton Water Holdings Inc, 6.2500% 04/01/2029 $45,113
Turning Point Brands Inc, 5.6250% 02/15/2026 $118,738
Vector Group Ltd, 5.7500% 02/01/2029 $112,058
Aker BP ASA, 2.8750% 01/15/2026 $157,992
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp, 7.5000% 05/01/2025 $219,656
Antero Midstream Partners LP / Antero Midstream Finance Corp, 5.7500% 01/15/2028 $110,488
Antero Midstream Partners LP / Antero Midstream Finance Corp, 7.8750% 05/15/2026 $89,409
Antero Resources Corp, 5.3750% 03/01/2030 $35,722
Antero Resources Corp, 7.6250% 02/01/2029 $44,400
Antero Resources Corp, 8.3750% 07/15/2026 $68,250
Ascent Resources Utica Holdings LLC / ARU Finance Corp, 8.2500% 12/31/2028 $170,500
BP Capital Markets PLC, 4.8750% 12/22/2169 $301,950
Callon Petroleum Co, 6.1250% 10/01/2024 $99,198
Callon Petroleum Co, 8.0000% 08/01/2028 $5,056
Cheniere Energy Inc, 4.6250% 10/15/2028 $68,575
Chesapeake Energy Corp, 5.5000% 02/01/2026 $121,325
Chesapeake Energy Corp, 5.8750% 02/01/2029 $27,061
3 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Cimarex Energy Co, 4.3750% 03/15/2029 $301,122
Citgo Holding Inc, 9.2500% 08/01/2024 $56,100
CITGO Petroleum Corp, 7.0000% 06/15/2025 $114,628
Colgate Energy Partners III LLC, 5.8750% 07/01/2029 $20,750
Coronado Finance Pty Ltd, 10.7500% 05/15/2026 $122,475
CrownRock LP / CrownRock Finance Inc, 5.0000% 05/01/2029 $94,523
CrownRock LP / CrownRock Finance Inc, 5.6250% 10/15/2025 $139,725
CSI Compressco LP / CSI Compressco Finance Inc, 7.5000% 04/01/2025 $131,950
Energy Transfer LP, 4.2000% 04/15/2027 $381,023
Energy Transfer LP, 6.5000% 11/15/2169 $117,243
EQM Midstream Partners LP, 4.5000% 01/15/2029 $30,521
EQM Midstream Partners LP, 4.7500% 01/15/2031 $30,913
EQM Midstream Partners LP, 6.0000% 07/01/2025 $48,938
EQM Midstream Partners LP, 6.5000% 07/01/2027 $55,750
Frontera Energy Corp $16,232
Hilcorp Energy I LP / Hilcorp Finance Co, 5.7500% 02/01/2029 $104,250
Hilcorp Energy I LP / Hilcorp Finance Co, 6.0000% 02/01/2031 $106,000
HollyFrontier Corp, 5.8750% 04/01/2026 $416,441
Indigo Natural Resources LLC, 5.3750% 02/01/2029 $125,400
KazMunayGas National Co JSC, 4.7500% 04/19/2027 $450,486
Kinder Morgan Inc, 7.7500% 01/15/2032 $322,779
Kosmos Energy Ltd, 7.5000% 03/01/2028 $197,500
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp, 6.0000% 08/01/2026 $118,594
Mesquite Energy Inc, 7.2500% 02/15/2023 $2,400
Northriver Midstream Finance LP, 5.6250% 02/15/2026 $124,500
Oasis Petroleum Inc, 6.3750% 06/01/2026 $10,427
Occidental Petroleum Corp, 3.5000% 08/15/2029 $55,198
Occidental Petroleum Corp, 5.5000% 12/01/2025 $5,525
Occidental Petroleum Corp, 6.1250% 01/01/2031 $94,122
Occidental Petroleum Corp, 6.6250% 09/01/2030 $138,000
4 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Odebrecht Oil & Gas Finance Ltd, 0.0000% 01/03/2170 $601
Parsley Energy LLC / Parsley Finance Corp, 4.1250% 02/15/2028 $115,775
Patterson-UTI Energy Inc, 5.1500% 11/15/2029 $188,219
Pertamina Persero PT, 6.4500% 05/30/2044 $416,906
Petrobras Global Finance BV, 5.9990% 01/27/2028 $57,375
Petrobras Global Finance BV, 7.3750% 01/17/2027 $147,900
Petroleos de Venezuela SA, 6.0000% 05/16/2024 $27,625
Petroleos Mexicanos, 5.9500% 01/28/2031 $296,308
Petroleos Mexicanos, 6.3500% 02/12/2048 $255,660
Petroleos Mexicanos, 6.3750% 01/23/2045 $159,100
Petroleos Mexicanos, 6.5000% 03/13/2027 $543,583
Petronas Capital Ltd, 3.5000% 04/21/2030 $240,981
Plains All American Pipeline LP / PAA Finance Corp, 3.8000% 09/15/2030 $288,916
Sabine Pass Liquefaction LLC, 4.2000% 03/15/2028 $197,633
Saudi Arabian Oil Co, 2.2500% 11/24/2030 $230,622
Targa Resources Partners LP / Targa Resources Partners Finance Corp, 4.8750% 02/01/2031 $48,713
Targa Resources Partners LP / Targa Resources Partners Finance Corp, 5.8750% 04/15/2026 $78,773
Transocean Inc, 11.5000% 01/30/2027 $63,053
USA Compression Partners LP / USA Compression Finance Corp, 6.8750% 04/01/2026 $57,613
Acrisure LLC / Acrisure Finance Inc, 7.0000% 11/15/2025 $168,300
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.6500% 07/21/2027 $160,242
Allstate Corp/The, 5.7500% 08/15/2053 $304,850
Ally Financial Inc, 4.7000% 08/15/2169 $259,961
Ascot Group Ltd, 4.2500% 12/15/2030 $299,963
Athene Global Funding, 2.4500% 08/20/2027 $407,577
Australia & New Zealand Banking Group Ltd, 4.4000% 05/19/2026 $377,528
Banco de Credito e Inversiones SA, 3.5000% 10/12/2027 $230,590
Banco Internacional del Peru SAA Interbank, 4.0000% 07/08/2030 $263,013
Bank of America Corp, 1.7340% 07/22/2027 $292,230
Bank of New York Mellon Corp/The, 3.5545% 12/20/2169 $292,103
5 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value BBVA Bancomer SA/Texas, 5.1250% 01/18/2033 $286,908
Blue Owl Finance LLC, 3.1250% 06/10/2031 $342,397
Brighthouse Financial Inc, 3.7000% 06/22/2027 $65,239
Brighthouse Financial Inc, 5.6250% 05/15/2030 $255,515
Brightsphere Investment Group Inc, 4.8000% 07/27/2026 $290,204
BroadStreet Partners Inc, 5.8750% 04/15/2029 $117,300
Capital Farm Credit ACA, 5.0000% 03/15/2170 $259,375
Charles Schwab Corp/The, 4.0000% 03/01/2170 $291,555
Citadel LP, 4.8750% 01/15/2027 $253,881
Citigroup Inc, 3.9800% 03/20/2030 $560,660
Corporate Office Properties LP, 2.7500% 04/15/2031 $305,286
Discover Bank, 4.6820% 08/09/2028 $361,131
Discover Financial Services, 6.1250% 03/23/2169 $123,442
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.8750% 02/15/2026 $356,889
Fairfax Financial Holdings Ltd, 4.8500% 04/17/2028 $419,869
Goldman Sachs Group Inc/The, 1.9920% 01/27/2032 $111,687
Goldman Sachs Group Inc/The, 3.8500% 01/26/2027 $308,536
Icahn Enterprises LP / Icahn Enterprises Finance Corp, 5.2500% 05/15/2027 $20,650
Icahn Enterprises LP / Icahn Enterprises Finance Corp, 6.2500% 05/15/2026 $164,455
Intercorp Peru Ltd, 3.8750% 08/15/2029 $227,480
Invesco Senior Loan ETF $865,777
Itau Unibanco Holding SA/Cayman Island, 3.8750% 04/15/2031 $198,502
Jefferies Financial Group Inc, 5.5000% 10/18/2023 $107,559
JPMorgan Chase & Co, 1.9530% 02/04/2032 $553,583
JPMorgan Chase & Co, 2.9560% 05/13/2031 $509,496
JPMorgan Chase & Co, 4.6000% 08/01/2169 $106,739
KeyCorp, 5.0000% 12/15/2169 $334,020
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp, 4.2500% 02/01/2027 $129,816
Liberty Mutual Insurance Co, 8.5000% 05/15/2025 $30,745
Lincoln National Corp, 2.2283% 04/20/2067 $310,706
6 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value MetLife Inc, 3.8500% 03/15/2170 $257,556
MetLife Inc, 5.8750% 09/15/2169 $199,433
Midcap Financial Issuer Trust, 6.5000% 05/01/2028 $209,308
Morgan Stanley, 3.9500% 04/23/2027 $385,492
Navient Corp, 6.7500% 06/25/2025 $132,865
OneMain Finance Corp, 7.1250% 03/15/2026 $128,118
Prospect Capital Corp, 3.7060% 01/22/2026 $231,146
Prudential Financial Inc, 5.6250% 06/15/2043 $123,413
Prudential Financial Inc, 5.8750% 09/15/2042 $295,992
Raptor Acquisition Corp / Raptor Co-Issuer LLC, 4.8750% 11/01/2026 $10,140
Santander Holdings USA Inc, 4.4000% 07/13/2027 $224,762
Synovus Financial Corp, 5.9000% 02/07/2029 $118,250
Texas Capital Bancshares Inc, 4.0000% 05/06/2031 $358,438
Toronto-Dominion Bank/The, 3.6250% 09/15/2031 $326,868
Truist Financial Corp, 5.1000% 03/01/2170 $303,413
VanEck Vectors High Yield Muni ETF $935,067
Wells Fargo & Co, 3.9000% 03/15/2170 $455,532
Zions Bancorp NA, 3.2500% 10/29/2029 $366,813
Akumin Inc, 7.0000% 11/01/2025 $129,774
Bausch Health Americas Inc, 9.2500% 04/01/2026 $97,893
Bausch Health Cos Inc, 7.0000% 01/15/2028 $144,200
Centene Corp, 4.6250% 12/15/2029 $109,977
Cheplapharm Arzneimittel GmbH, 5.5000% 01/15/2028 $205,000
CHS/Community Health Systems Inc, 4.7500% 02/15/2031 $115,431
CHS/Community Health Systems Inc, 6.1250% 04/01/2030 $25,375
CHS/Community Health Systems Inc, 6.6250% 02/15/2025 $116,324
CHS/Community Health Systems Inc, 6.8750% 04/15/2029 $15,697
DaVita Inc, 4.6250% 06/01/2030 $123,386
Encompass Health Corp, 4.5000% 02/01/2028 $114,122
Endo Dac / Endo Finance LLC / Endo Finco Inc, 6.0000% 07/15/2023 $83,875
7 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Endo Luxembourg Finance Co I Sarl / Endo US Inc, 6.1250% 04/01/2029 $63,700
HCA Inc, 5.6250% 09/01/2028 $106,650
Illumina Inc, 2.5500% 03/23/2031 $142,114
Jaguar Holding Co II / PPD Development LP, 5.0000% 06/15/2028 $97,553
Lannett Co Inc, 7.7500% 04/15/2026 $49,771
Legacy LifePoint Health LLC, 4.3750% 02/15/2027 $86,020
Legacy LifePoint Health LLC, 6.7500% 04/15/2025 $53,283
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Diagnostics SA, 7.3750% 06/01/2025 $33,286
Par Pharmaceutical Inc, 7.5000% 04/01/2027 $76,675
Prime Healthcare Services Inc, 7.2500% 11/01/2025 $21,652
Surgery Center Holdings Inc, 10.0000% 04/15/2027 $109,750
Surgery Center Holdings Inc, 6.7500% 07/01/2025 $35,700
Team Health Holdings Inc, 6.3750% 02/01/2025 $133,148
Tenet Healthcare Corp, 4.6250% 07/15/2024 $71,029
Tenet Healthcare Corp, 7.5000% 04/01/2025 $16,202
Teva Pharmaceutical Finance Netherlands III BV, 3.1500% 10/01/2026 $204,519
Viatris Inc, 2.7000% 06/22/2030 $288,187
Allied Universal Holdco LLC / Allied Universal Finance Corp, 6.0000% 06/01/2029 $202,758
Allied Universal Holdco LLC / Allied Universal Finance Corp, 6.6250% 07/15/2026 $206,745
American Airlines Group Inc, 5.0000% 06/01/2022 $70,089
American Airlines Inc, 11.7500% 07/15/2025 $294,925
American Airlines Inc/AAdvantage Loyalty IP Ltd, 5.5000% 04/20/2026 $31,763
American Airlines Inc/AAdvantage Loyalty IP Ltd, 5.7500% 04/20/2029 $10,813
Ashtead Capital Inc, 4.3750% 08/15/2027 $377,100
Aviation Capital Group LLC, 3.5000% 11/01/2027 $372,993
Avolon Holdings Funding Ltd, 4.3750% 05/01/2026 $204,354
Boeing Co/The, 3.7500% 02/01/2050 $87,673
Boeing Co/The, 5.1500% 05/01/2030 $207,227
Boeing Co/The, 5.9300% 05/01/2060 $95,279
Cleaver-Brooks Inc, 7.8750% 03/01/2023 $113,859
8 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value CoStar Group Inc, 2.8000% 07/15/2030 $289,520
CP Atlas Buyer Inc, 7.0000% 12/01/2028 $139,894
Delta Air Lines Inc, 3.7500% 10/28/2029 $119,807
Deluxe Corp, 8.0000% 06/01/2029 $65,100
General Electric Co, 3.4489% 06/15/2170 $325,360
LBM Acquisition LLC, 6.2500% 01/15/2029 $100,770
Spirit AeroSystems Inc, 5.5000% 01/15/2025 $116,875
Stanley Black & Decker Inc, 4.0000% 03/15/2060 $283,556
Titan Acquisition Ltd / Titan Co-Borrower LLC, 7.7500% 04/15/2026 $124,350
United Airlines Inc, 4.3750% 04/15/2026 $20,704
United Airlines Inc, 4.6250% 04/15/2029 $20,700
Banff Merger Sub Inc, 9.7500% 09/01/2026 $84,200
Broadcom Inc, 2.4500% 02/15/2031 $216,193
Broadcom Inc, 4.1500% 11/15/2030 $313,996
Citrix Systems Inc, 3.3000% 03/01/2030 $441,872
Dell International LLC / EMC Corp, 8.1000% 07/15/2036 $388,652
Epicor Software Corp, Term C Loan, 07/30/2027 $228,322
HP Inc, 3.4000% 06/17/2030 $369,507
J2 Global Inc, 4.6250% 10/15/2030 $129,413
MicroStrategy Inc, 6.1250% 06/15/2028 $10,000
Motorola Solutions Inc, 4.6000% 02/23/2028 $192,278
Motorola Solutions Inc, 4.6000% 05/23/2029 $139,912
NCR Corp, 5.1250% 04/15/2029 $139,219
Plantronics Inc, 4.7500% 03/01/2029 $114,164
Rocket Software Inc, 6.5000% 02/15/2029 $114,112
Science Applications International Corp, 4.8750% 04/01/2028 $230,725
SK Hynix Inc, 2.3750% 01/19/2031 $340,806
Veritas US Inc / Veritas Bermuda Ltd, 7.5000% 09/01/2025 $171,806
Viasat Inc, 5.6250% 09/15/2025 $178,325
Vontier Corp, 2.9500% 04/01/2031 $304,912
9 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Xerox Holdings Corp, 5.5000% 08/15/2028 $140,264
ARD Finance SA, 6.5000% 06/30/2027 $246,750
Chemours Co/The, 5.7500% 11/15/2028 $117,675
Cleveland-Cliffs Inc, 6.7500% 03/15/2026 $183,388
CVR Partners LP / CVR Nitrogen Finance Corp, 6.1250% 06/15/2028 $5,125
Freeport-McMoRan Inc, 5.4500% 03/15/2043 $165,013
Hecla Mining Co, 7.2500% 02/15/2028 $218,500
INEOS Quattro Finance 2 Plc, 3.3750% 01/15/2026 $233,043
International Flavors & Fragrances Inc, 2.3000% 11/01/2030 $228,702
Inversiones CMPC SA, 3.8500% 01/13/2030 $373,279
Louisiana-Pacific Corp, 3.6250% 03/15/2029 $125,781
Mauser Packaging Solutions Holding Co, 7.2500% 04/15/2025 $181,300
Sofi Professional Loan Program 2016-A LLC, 2.7600% 12/26/2036 $34,355
Syngenta Finance NV, 4.4410% 04/24/2023 $422,277
Taseko Mines Ltd, 7.0000% 02/15/2026 $172,013
Teck Resources Ltd, 6.1250% 10/01/2035 $334,730
Trident TPI Holdings Inc, 6.6250% 11/01/2025 $133,250
Trident TPI Holdings Inc, 9.2500% 08/01/2024 $120,175
United States Steel Corp, 6.8750% 03/01/2029 $90,950
Altice France Holding SA, 6.0000% 02/15/2028 $248,950
Frontier Communications Holdings LLC, 6.7500% 05/01/2029 $170,123
Level 3 Financing Inc, 3.6250% 01/15/2029 $53,075
Level 3 Financing Inc, 4.2500% 07/01/2028 $147,140
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc, 6.0000% 02/15/2028 $10,022
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC, 3.3600% 09/20/2021 $12,569
Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC, 5.1520% 03/20/2028 $229,940
T-Mobile USA Inc, 3.8750% 04/15/2030 $318,579
Telesat Canada / Telesat LLC, 5.6250% 12/06/2026 $10,038
Telesat Canada / Telesat LLC, 6.5000% 10/15/2027 $285,750
CMS Energy Corp, 4.7500% 06/01/2050 $495,897
10 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Eskom Holdings SOC Ltd, 7.1250% 02/11/2025 $232,100
Exelon Corp, 3.4970% 06/01/2022 $261,438
Ferrellgas LP / Ferrellgas Finance Corp, 5.3750% 04/01/2026 $39,650
Ferrellgas LP / Ferrellgas Finance Corp, 5.8750% 04/01/2029 $39,500
National Fuel Gas Co, 2.9500% 03/01/2031 $135,783
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.1250% 05/15/2027 $422,955
PG&E Corp, 5.2500% 07/01/2030 $90,855
Southern Co/The, 3.7500% 09/15/2051 $308,965
Talen Energy Supply LLC, 6.6250% 01/15/2028 $137,378
Talen Energy Supply LLC, 7.2500% 05/15/2027 $51,318
Vistra Energy Corp Rights???? $9,125
American Credit Acceptance Receivables Trust 2018-4, 3.9700% 01/13/2025 $56,585
American Homes 4 Rent 2015-SFR2 Trust, 4.6910% 10/01/2052 $369,227
Amur Equipment Finance Receivables V LLC, 3.2400% 12/20/2023 $229
Capital Auto Receivables Asset Trust 2017-1, 3.1500% 02/20/2025 $340,476
Diamond Resorts Owner Trust, 3.2700% 10/22/2029 $69,906
Exeter Automobile Receivables Trust 2018-4, 4.3500% 09/16/2024 $376,522
Exeter Automobile Receivables Trust 2019-1, 4.1300% 12/16/2024 $366,919
GLS Auto Receivables Trust 2018-1, 3.5200% 08/15/2023 $228,891
GLS Auto Receivables Trust 2018-3, 4.1800% 07/15/2024 $468,199
Hertz Vehicle Financing II LP, 2.6500% 07/25/2022 $28,478
Lendmark Funding Trust 2018-2, 4.2300% 04/20/2027 $363,859
Onemain Financial Issuance Trust 2018-1, 3.3000% 03/14/2029 $238,840
Dominican Republic International Bond, 5.9500% 01/25/2027 $112,450
Dominican Republic International Bond, 6.8750% 01/29/2026 $150,618
Egypt Government International Bond, 7.6003% 03/01/2029 $219,540
Indonesia Government International Bond, 4.3500% 01/08/2027 $271,599
Pakistan Government International Bond, 8.2500% 09/30/2025 $221,218
Saudi Government International Bond, 4.5000% 10/26/2046 $357,231
Turkey Government International Bond, 4.8750% 10/09/2026 $195,615
11 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Turkey Government International Bond, 7.3750% 02/05/2025 $151,318
Venezuela Government International Bond, 7.6500% 04/21/2025 $82,500
Venezuela Government International Bond, 9.3750% 01/13/2034 $29,500
Sales Tax Securitization Corp, 3.4110% 01/01/2043 $43,224
Tobacco Settlement Financing Corp/VA, 6.7060% 06/01/2046 $640,793
American Homes 4 Rent 2014-SFR2 Trust, 4.7050% 10/01/2036 $466,935
American Homes 4 Rent 2015-SFR1, 3.4670% 04/01/2052 $319,555
Arroyo Mortgage Trust 2018-1, 3.7630% $46,995
Arroyo Mortgage Trust 2019-1, 3.8050% $84,099
Banc of America Funding 2005-1 Trust, 5.5000% $49,948
Bayview Opportunity Master Fund IVa Trust 2016-SPL1, 4.2500% 04/28/2055 $288,543
Bayview Opportunity Master Fund IVb Trust 2016-SPL2, 4.2500% 06/28/2053 $136,401
Chase Mortgage Finance Corp, 3.7078% $179,442
Chase Mortgage Finance Corp, 3.7500% $149,212
Citigroup Mortgage Loan Trust 2015-A, 3.5000% $17,172
CSMC Trust 2014-IVR2, 3.8131% $40,283
Galton Funding Mortgage Trust 2017-1, 3.5000% $39,979
Galton Funding Mortgage Trust 2017-1, 3.5000% $77,855
Galton Funding Mortgage Trust 2018-2, 4.5000% $25,181
JP Morgan Mortgage Trust 2014-1, 3.5000% $63,973
JP Morgan Mortgage Trust 2014-2, 3.5000% $58,301
LHOME Mortgage Trust 2019-RTL1, 4.5800% $26,145
Metlife Securitization Trust , 3.4974% 04/01/2055 $157,420
Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13, 4.2660% $132,845
New Residential Mortgage Loan Trust 2014-1, 3.7500% $128,130
New Residential Mortgage Loan Trust 2015-2, 3.7500% $104,409
New Residential Mortgage Loan Trust 2016-1, 3.7500% $90,390
New Residential Mortgage Loan Trust 2016-4, 4.5000% $281,544
New Residential Mortgage Loan Trust 2017-2, 4.0000% $87,712
New Residential Mortgage Loan Trust 2018-1, 4.0000% $186,882
12 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value OBX 2018-EXP2 Trust, 4.0000% $68,995
OBX 2019-INV1 Trust, 4.5000% $82,231
Progress Residential 2018-SFR2 Trust, 3.8410% 08/01/2035 $545,202
RAMP Series 2004-SL1 Trust, 6.5000% $11,730
Sequoia Mortgage Trust 2013-8, 3.5065% $83,848
Sutherland Commercial Mortgage Loans 2017-SBC6, 3.1920% $12,066
Towd Point Mortgage Trust 2015-2, 3.2500% $323,567
Towd Point Mortgage Trust 2016-1, 3.5000% $138,632
Towd Point Mortgage Trust 2017-1, 3.7500% $142,614
American Assets Trust LP, 3.3750% 02/01/2031 $406,544
EPR Properties, 4.7500% 12/15/2026 $140,892
GLP Capital LP / GLP Financing II Inc, 5.2500% 06/01/2025 $208,245
GLP Capital LP / GLP Financing II Inc, 5.3000% 01/15/2029 $110,675
GLP Capital LP / GLP Financing II Inc, 5.7500% 06/01/2028 $76,151 iStar Inc, 4.2500% 08/01/2025 $66,869
MPT Operating Partnership LP / MPT Finance Corp, 4.6250% 08/01/2029 $48,171
Office Properties Income Trust, 4.5000% 02/01/2025 $418,060
Retail Properties of America Inc, 4.7500% 09/15/2030 $326,797
Service Properties Trust, 4.9500% 02/15/2027 $194,025
CPS Auto Trust, 4.4000% 06/17/2024 $317,147
Fannie Mae Pool, 3.0000% $202,318
Fannie Mae Pool, 3.5000% $110,651
Fannie Mae Pool, 4.0000% $46,375
Fannie Mae Pool, 4.0000% $98,684
84 Lumber Co, Term B-1 Loan, 11/13/2026 $114,597
Accelerated Health Systems LLC, Initial Term Loan, 10/31/2025 $171,435
Acuris Finance US Inc, Initial Dollar Term Loan, 02/16/2028 $20,363
AHP Health Partners Inc, Term B-1 Loan, 06/30/2025 $183,876
AIT Worldwide Logistics Holdings Inc, Initial Term Loan (First Lien), 03/31/2028 $59,906
Alliance Laundry Systems LLC, Initial Term B Loan, 10/08/2027 $168,033
13 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Allied Universal Holdco LLC, Initial U.S. Dollar Term Loan, 05/12/2028 $30,075
Amentum Government Services Holdings LLC, Tranche 2 Term Loan (First Lien), 01/29/2027 $95,444
American Airlines Inc, Initial Term Loan, 04/20/2028 $26,044
American Credit Acceptance Receivables Trust 2020-4, 1.7700% 12/14/2026 $289,233
American Greetings Corp, Initial Term Loan, 04/06/2024 $66,941
Americredit Automobile Receivables Trust 2018-1, 3.8200% 03/18/2024 $306,626
AmeriCredit Automobile Receivables Trust 2020-3, 1.0600% 08/18/2026 $231,627
Amur Equipment Finance Receivables IX LLC, 1.7500% 06/21/2027 $344,684
Anchor Glass Container Corp, July 2017 Additional Term Loan (First Lien), 12/07/2023 $45,914
Angel Oak SB Commercial Mortgage Trust 2020-SBC1, 2.0680% $297,624
ANI Pharmaceuticals Inc, Term Loan B, 05/24/2027 $112,988
Applied Systems Inc, 2021 Term Loan (Second Lien), 09/19/2025 $130,075
Aqua Finance Trust 2019-A, 4.0100% 07/16/2040 $374,344
Arbys Funding LLC, 3.2370% 07/30/2050 $290,364
Arcline FM Holdings LLC, Term Loan (Second Lien ), 06/17/2029 $45,000
Arcline FM Holdings LLC, Term Loan, 06/17/2028 $70,044
Argentine Republic Government International Bond, 0.1250% 07/09/2035 $94,953
Argentine Republic Government International Bond, 0.1250% 07/09/2041 $92,690
Arroyo Mortgage Trust 2019-2, 3.3470% $103,018
Arterra Wines Canada Inc, Initial Tranche B-1 Term Loan, 11/24/2027 $9,957
Aruba Investments Holdings LLC, First Lien Initial Dollar Term Loan, 11/24/2027 $95,238
ASP Navigate Acquisition Corp, Initial Term Loan, 10/06/2027 $69,737
Aston US Finco LLC, Dollar Term Loan (First Lien), 10/09/2026 $112,681
Asurion LLC, New B-9 Term Loan, 07/31/2027 $64,081
Asurion LLC, Second Lien Term Loan B3, 01/31/2028 $65,460 athenahealth Inc, Additional Term B-1, 02/11/2026 $49,984
Avid Automobile Receivables Trust 2019-1, 3.1400% 07/15/2026 $365,106
Avid Automobile Receivables Trust 2019-1, 4.0300% 07/15/2026 $290,802
Avis Budget Rental Car Funding AESOP LLC, 2.0200% 02/20/2027 $293,470
Avolon TLB Borrower 1 US LLC, Term B-5 Loan, 12/01/2027 $94,447
14 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Azalea Topco Inc, 2021 Refinancing Term Loan, 07/24/2026 $239,987
Barracuda Networks Inc, First Lien Term Loan, 02/12/2025 $119,348
Boxer Parent Co Inc, 2021 Replacement Dollar Term Loan, 10/02/2025 $160,890
Brazilian Government International Bond, 3.8750% 06/12/2030 $201,680
Brookfield WEC Holdings Inc, Refinancing No 2 Term Loan, 08/01/2025 $222,549
Brown Group Holding LLC, Initial Term Loan, 06/07/2028 $159,120
Business Jet Securities 2019-1 LLC, 4.2120% 07/15/2034 $114,519
Business Jet Securities 2020-1 LLC, 2.9810% 11/15/2035 $167,053
BX Trust 2019-OC11, 4.0755% $315,626
BXG Receivables Note Trust 2020-A, 2.4900% 02/28/2036 $228,123
Caesars Resort Collection LLC, Term B Loan, 12/23/2024 $172,958
Carlisle FoodService Products Inc, Initial Term Loan (First Lien), 03/20/2025 $117,296
Carnival Corp, Initial Advance (USD) Term Loan, 06/30/2025 $40,610
Cascade MH Asset Trust 2021-MH1, 1.7530% $329,431
CCM Merger Inc, Term B Loan, 11/04/2025 $60,760
CF Hippolyta LLC, 1.6900% 07/15/2060 $218,200
CHG Healthcare Services Inc, New Term Loan (2017) (First Lien), 06/07/2023 $52,505
Chobani LLC, 2020 New Term Loan, 10/20/2027 $59,649
CIRCOR International Inc, New Term Loan, 12/11/2024 $114,281
Citadel Securities LP, 2021 Term Loan, 02/02/2028 $266,352
CITGO Petroleum Corp, 2019 Incremental Term B Loan, 03/28/2024 $93,638
Citigroup Mortgage Loan Trust 2019-IMC1, 2.7200% $118,526
CNT Holdings I Corp, First Lien Initial Term Loan, 11/08/2027 $130,000
Colombia Government International Bond, 3.1250% 04/15/2031 $244,635
Colombia Government International Bond, 4.1250% 05/15/2051 $208,415
COLT 2020-RPL1 Trust, 1.3897% $201,062
Conn's Receivables Funding 2020-A LLC, 4.2700% 06/16/2025 $179,964
Consolidated Communications Inc, Term B-1 Loan, 10/02/2027 $53,617
Cooper-Standard Automotive Inc, Additional Term B-1 Loan, 11/02/2023 $220,529
Corevest American Finance 2020-4 Trust, 1.1740% $228,482
15 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Cpc Acquisition Corp, First Lien Initial Term Loan, 12/29/2027 $114,677
CPI Holdco LLC, Term B-1 Loan (First Lien), 11/04/2026 $9,955
CSMC 2020-RPL4 Trust, 2.0000% $326,561
Deerfield Dakota Holding LLC, Initial Dollar Term Loan (First Lien), 04/09/2027 $159,520
DG Investment Intermediate Holdings 2 Inc, First Lien Closing Date Initial Term Loan, 03/18/2028 $70,487
DG Investment Intermediate Holdings 2 Inc, First Lien Delayed Draw Term Loan, 03/31/2028 $14,762
Diamond BC BV, Initial USD Term Loan, 09/06/2024 $230,890
Diamond Resorts Owner Trust 2021-1, 2.0500% 11/21/2033 $216,800
Diamond Sports Group LLC, Term Loan, 08/24/2026 $52,956
Dole Food Co Inc, Tranche B Term Loan, 04/06/2024 $114,700
Dominican Republic International Bond, 4.5000% 01/30/2030 $168,714
DT Midstream Inc, Initial Term Loan, 06/10/2028 $60,053
Dun & Bradstreet Corp/The, Term Loan B, 02/06/2026 $201,401
DXP Enterprises Inc/TX, Initial Term Loan, 12/23/2027 $99,531
ECL Entertainment LLC, Term B Loan, 05/01/2028 $30,600
Ecuador Government International Bond, 0.5000% 07/31/2035 $58,225
Ellington Financial Mortgage Trust 2019-2, 3.0460% $66,446
Ellington Financial Mortgage Trust 2021-2, 1.2910% $323,803
Emirate of Dubai Government International Bonds, 5.2500% 01/30/2043 $450,456
Ensemble RCM LLC, Closing Date Term Loan, 08/03/2026 $29,854
Envision Healthcare Corp, Initial Term Loan, 10/10/2025 $88,452 eResearchTechnology Inc, Initial Term Loan (First Lien), 02/04/2027 $15,059
Everi Payments Inc, New Term B Loan, 05/09/2024 $59,850
Everi Payments Inc, Term Loan, 05/09/2024 $10,296
Exeter Automobile Receivables Trust 2019-2, 4.6800% 05/15/2026 $343,537
Exeter Automobile Receivables Trust 2019-3, 2.7900% 05/15/2024 $298,723
FAT Brands Royalty LLC, 4.7500% 04/25/2051 $291,076
Fieldwood Energy LLC, Closing Date Loan (First Lien), 04/11/2022 $140,400
Filtration Group Corp, Initial Dollar Term Loan, 03/31/2025 $159,356
Filtration Group Corp, Series A Term Loan, 03/29/2025 $74,625
16 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value FirstKey Homes 2020-SFR1 Trust, 1.7400% 09/01/2025 $200,333
FirstKey Homes 2020-SFR2 Trust, 1.5670% 10/03/2037 $332,914
Flagship Credit Auto Trust 2020-3, 1.7300% 09/15/2026 $290,252
Foundation Finance Trust 2021-1, 1.2700% 05/15/2041 $266,078
Foursight Capital Automobile Receivables Trust 2019-1, 4.3000% 09/15/2025 $298,466
Froneri US Inc, Facility B2 (First Lien), 01/29/2027 $58,330
Gainwell Acquisition Corp, Term B Loan, 10/01/2027 $169,531
Galton Funding Mortgage Trust 2019-H1, 2.6570% $26,106
Galton Funding Mortgage Trust 2020-H1, 2.3100% $119,910
Gates Global LLC, Initial B-3 Dollar Term Loan, 03/31/2027 $133,976
Ghana Government International Bond, 8.1250% 03/26/2032 $202,623
Gloves Buyer Inc, Initial Term Loan (First Lien), 12/29/2027 $115,000
GLS Auto Receivables Issuer Trust 2019-4, 2.7800% 09/16/2024 $433,695
GLS Auto Receivables Issuer Trust 2020-3, 2.2700% 05/15/2026 $292,018
Grab Holdings Inc, Initial Term Loan, 01/29/2026 $207,385
Great Outdoors Group LLC, Term B-1 Loan, 03/06/2028 $114,999
Greeneden US Holdings II LLC, B-4 Dollar Term Loan, 12/01/2027 $104,925
H-Food Holdings LLC, Initial Term Loan, 05/23/2025 $136,773
Hamilton Projects Acquiror LLC, Term Loan, 06/17/2027 $112,598
Harbor Freight Tools USA Inc, Initial Loan (2020), 10/19/2027 $169,460
Hardee's Funding LLC, 3.9810% 12/20/2050 $300,085
Heartland Dental LLC, 2021 Incremental Term Loan, 04/25/2025 $159,600
Herens US Holdco Corp, Term Loan, 04/28/2028 $160,086
Hertz Corp/The, Initial Term B Loan, 06/30/2028 $48,742
Hertz Corp/The, Initial Term C Loan, 06/30/2028 $9,186
Hertz Vehicle Financing II LP, 3.2900% 02/25/2024 $15,256
Hertz Vehicle Financing III LP, 1.6800% 12/27/2027 $290,684
Hertz Vehicle Financing LLC, 1.2100% 12/26/2025 $290,668
Hilton Grand Vacations Borrower LLC, First Lien Term Loan, 05/19/2028 $30,009
HIN Timeshare Trust 2020-A, 3.4200% 10/09/2039 $271,647
17 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Home Partners of America 2020-2 Trust, 1.5320% 01/17/2041 $212,778
Hoya Midco LLC, Initial Term Loan (First Lien), 06/30/2024 $126,788
Hyland Software Inc, 2018 Refinancing Term Loan (First Lien), 07/01/2024 $178,873
Indonesia Government International Bond, 2.8500% 02/14/2030 $466,558
INEOS US Finance LLC, 2024 Dollar Term Loan, 04/01/2024 $172,464
Infinite Bidco LLC, Initial Term Loan (First Lien), 03/02/2028 $124,844
Infinite Bidco LLC, Initial Term Loan (Second Lien), 03/02/2029 $65,325
Innophos Holdings Inc, Initial Term Loan, 02/05/2027 $108,263
Insulet Corp, Term B Loan, 05/04/2028 $40,025
Intelsat Jackson Holdings SA, Tranche B-5 Term Loan, 01/02/2024 $80,270
ION Trading Finance Ltd, Initial Dollar Term Loan (2021), 04/01/2028 $25,076
Israel Government International Bond, 2.7500% 07/03/2030 $368,256
J&J Ventures Gaming LLC, Initial Term Loan, 04/26/2028 $100,250
Jersey Mike's Funding, 4.4330% 02/15/2050 $315,930
Kenya Government International Bond, 8.0000% 05/22/2032 $224,990
Kloeckner Pentaplast of America Inc, Facility B (USD) Loan, 02/12/2026 $150,373
KPEX Holdings Inc, Closing Date Term Loan (First Lien), 01/31/2025 $75,822
Landry's Finance Acquisition Co, 2020 Initial Term Loan, 10/06/2023 $11,100
LEB Holdings USA Inc, Initial Term Loan, 11/02/2027 $154,466
Lendmark Funding Trust, 1.9000% 11/20/2031 $292,600
LifePoint Health Inc, First Lien Term B Loan, 11/17/2025 $169,725
Lumen Technologies Inc, Term B Loan, 03/15/2027 $77,641
Mariner Finance Issuance Trust 2020-A, 2.1900% 08/21/2034 $289,879
Marlette Funding Trust 2019-4, 2.3900% 12/17/2029 $75,553
Masergy Holdings Inc, 2017 Replacement Term Loan (First Lien), 12/15/2023 $163,837
Mauser Packaging Solutions Holding Co, Initial Term Loan, 04/03/2024 $43,882
Mavis Tire Express Services TopCo LP, Initial Term Loan (First Lien), 05/04/2028 $85,213
Medallion Midland Acquisition LP, Initial Term Loan, 10/30/2024 $113,814
Mello Warehouse Securitization Trust 2021-2, 1.1915% $160,193
Mercury Financial Credit Card Master Trust, 1.5400% 03/20/2026 $285,861
18 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Metlife Securitization Trust 2019-1 , 3.7500% $194,114
Mexico Government International Bond, 4.5000% 01/31/2050 $361,352
Michaels Cos Inc/The, Term B Loan, 04/15/2028 $115,419
Mileage Plus Holdings LLC, Initial Term Loan, 06/21/2027 $176,081
Mill City Mortgage Loan Trust 2017-1, 3.2500% 11/01/2058 $105,248
Mill City Mortgage Loan Trust 2019-1, 3.5000% $177,477
NAB Holdings LLC, 2018 Refinancing Term Loan, 07/01/2024 $114,115
National Mentor Holdings Inc, First Lien Delayed Draw Term Loan, 03/02/2028 $4,087
National Mentor Holdings Inc, First Lien Initial Term C Loan, 03/02/2028 $2,773
National Mentor Holdings Inc, First Lien Initial Term Loan, 03/02/2028 $88,246
New Residential Mortgage Loan Trust 2016-3, 4.0000% $319,311
New Residential Mortgage Loan Trust 2021-NQM2R, 0.9405% $161,282
NewRez Warehouse Securitization Trust 2021-1, 1.1415% $160,107
NMEF Funding 2019-A LLC, 2.7300% 08/17/2026 $57,657
NMEF Funding 2019-A LLC, 3.3000% 08/17/2026 $245,373
Nouryon USA LLC, Initial Dollar Term Loan, 10/01/2025 $168,133
Octane Receivables Trust 2020-1, 1.9800% 06/20/2025 $339,422
Oman Government International Bond, 7.3750% 10/28/2032 $467,913
One Call Corp, Term B Loan (First Lien), 04/22/2027 $202,000
Packaging Coordinators Midco Inc, First Lien Term B Loan, 11/30/2027 $119,760
PAI Holdco Inc, Term B Loan, 10/28/2027 $39,962
Panama Government International Bond, 4.3000% 04/29/2053 $393,244
Paragon Offshore Finance Co, Term Loan, 07/16/2021 $0
PAREXEL International Corp, Initial Term Loan, 09/27/2024 $173,934
Parfums Holding Co Inc, Initial Term Loan (First Lien), 06/30/2024 $231,461
Paysafe Holdings US Corp, Term Loan B1, 06/09/2028 $139,125
Peraton Corp, First Lien Term B Loan, 02/01/2028 $136,942
Petco Health & Wellness Co Inc, First Lien Initial Term Loan, 03/03/2028 $89,567
PetSmart Inc, Initial Term Loan, 02/11/2028 $125,031
PetVet Care Centers LLC, 2021 First Lien Replacement Term Loan, 02/14/2025 $69,625
19 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value PetVet Care Centers LLC, Initial Term Loan (First Lien), 02/14/2025 $176,698
PG&E Corp, Loan, 06/23/2025 $43,910
Philippine Government International Bond, 3.7000% 03/01/2041 $216,352
Phoenix Guarantor Inc, Tranche B-1 Term Loan (First Lien), 03/05/2026 $185,687
Phoenix Guarantor Inc, Tranche B-3 Term Loan (First Lien), 03/05/2026 $64,423
Pike Corp, 2028 Initial Term Loan, 01/21/2028 $223,883
Playa Resorts Holding BV, Initial Term Loan, 04/29/2024 $270,531
Pluto Acquisition I Inc, First Lien 2021 Term Loan, 06/20/2026 $95,000
Pods LLC , Term Loan, 03/31/2028 $194,026
Precision Medicine Group LLC, Amendment No. 1 Refinancing DDTL, 11/18/2027 $16,183
Precision Medicine Group LLC, Amendment No. 1 Refinancing Term Loan, 11/18/2027 $157,370
Prestige Auto Receivables Trust 2019-1, 3.0100% 08/15/2025 $302,358
Pretium Mortgage Credit Partners I 2020-NPL3 LLC, 3.1048% $287,755
Progress Residential 2019-SFR2 Trust, 3.1470% 05/01/2036 $252,545
Progress Residential 2021-SFR3, 2.2880% 05/01/2026 $115,463
Progress Residential Trust, 1.8550% 07/01/2038 $175,048
Project Ruby Ultimate Parent Corp, First Lien Closing Date Term Loan, 03/10/2028 $149,110
Proofpoint Inc, Term Loan, 06/09/2028 $64,602
Provident Funding Mortgage Trust 2019-1, 3.0000% $163,371
Prpm 2020-1 LLC , 2.9810% $286,427
Prpm 2020-2 LLC , 3.6710% $283,587
Prpm 2020-3 LLC , 2.8570% $370,081
Prpm 2020-6 LLC , 2.3630% $384,071
Prpm 2021-2 LLC , 2.1150% $109,445
Prpm 2021-3 LLC , 1.8670% $224,208
Pug LLC, USD Term B Loan, 02/12/2027 $183,053
Purchasing Power Funding 2021-A LLC, 1.9200% 10/15/2025 $344,848
Qatar Government International Bond, 4.4000% 04/16/2050 $243,430
Quikrete Holdings Inc, Term Loan B1, 06/11/2028 $163,607
Radiate Holdco LLC, Term B Loan, 09/25/2026 $21,520
20 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Raptor Acquisition Corp, Term Loan B, 11/01/2026 $35,044
RCO V Mortgage LLC 2019-2, 3.4748% $178,329
RealPage Inc, First Lien Initial Term Loan, 04/24/2028 $99,650
Republic Finance Issuance Trust 2020-A, 2.4700% 11/20/2030 $229,027
Residential Mortgage Loan Trust 2019-2, 2.9130% $150,288
Resideo Funding Inc, New Term Loan B, 02/11/2028 $114,713
Rising Tide Holdings Inc, First Lien Initial Term Loan, 06/01/2028 $60,038
Rocket Software Inc, Term Loan, 11/28/2025 $73,613
Rodan & Fields LLC, Closing Date Term Loan, 06/16/2025 $119,277
Saudi Government International Bond, 3.6250% 03/04/2028 $232,029
Scientific Games International Inc, Initial Term B-5 Loan, 08/14/2024 $61,142
Sedgwick Claims Management Services Inc, 2019 Term Loan, 09/03/2026 $205,677
SG Residential Mortgage Trust 2019-3, 2.7030% $249,284
Shearer's Foods LLC, Refinancing Term Loan (First Lien), 09/23/2027 $125,570
Small Business Lending Trust 2020-A, 2.6200% 12/15/2026 $39,768
Sophia LP, Closing Date Term Loan, 10/07/2027 $139,329
Sotera Health Holdings LLC, Term Loan, 12/11/2026 $64,702
Southern Veterinary Partners LLC, Delayed Draw Term Loan (First Lien), 10/01/2027 $19,305
Southern Veterinary Partners LLC, Initial Term Loan (First Lien), 10/05/2027 $139,261
Sram LLC , Initial Term Loan, 05/18/2028 $59,700
Star US Bidco LLC, Initial Term Loan, 03/17/2027 $143,282
Stars Group Holdings BV, USD Term Loan, 07/10/2025 $72,821
Starwood Mortgage Residential Trust 2020-2, 2.7180% $113,145
Starwood Mortgage Residential Trust 2021-3, 1.5180% $99,999
Sunshine Luxembourg VII Sarl, Facility B3, 10/01/2026 $60,033
Surgery Center Holdings Inc, 2021 New Term Loan, 08/31/2026 $110,395
Thoughtworks Inc, Initial Term Loan, 03/24/2028 $114,651
Towd Point Mortgage Trust 2016-4, 3.8598% 07/01/2056 $327,146
Towd Point Mortgage Trust 2017-4, 3.0000% $315,429
Towd Point Mortgage Trust 2018-6, 3.7500% $753,622
21 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value Towd Point Mortgage Trust 2019-2, 3.7500% 12/01/2058 $310,103
Towd Point Mortgage Trust 2019-4, 3.2500% 10/01/2059 $229,741
TransDigm Inc, Tranche E Refinancing Term Loan, 05/30/2025 $96,659
TransDigm Inc, Tranche F Refinancing Term Loan, 12/09/2025 $58,760
TransDigm Inc, Tranche G Refinancing Term Loan, 08/22/2024 $28,507
Traverse Midstream Partners LLC, Advance, 09/27/2024 $132,715
Tricon American Homes 2019-SFR1 Trust, 3.1490% 02/28/2038 $243,581
Tricon American Homes 2020-SFR2 Trust, 2.2810% 11/01/2027 $223,481
TricorBraun Holdings Inc, Delayed Draw Term Loan, 03/03/2028 $17,459
TricorBraun Holdings Inc, Term Loan, 03/03/2028 $77,620
Triton Water Holdings Inc, First Lien Initial Term Loan, 03/31/2028 $124,826
Truck Hero Inc, Initial Term Loan, 01/29/2028 $54,835
TTF Holdings LLC, Initial Term Loan, 03/31/2028 $54,863
Turkey Government International Bond, 5.8750% 06/26/2031 $198,953
TVC Mortgage Trust 2020-RTL1, 3.4740% $241,831
UFC Holdings LLC, Term B-3 Loan (First Lien), 04/29/2026 $106,940
UKG Inc, 2021 Incremental Term Loan, 05/04/2026 $203,645
UKG Inc, Second Lien Initial Term Loan, 05/03/2027 $5,079
Ukraine Government International Bond, 7.2530% 03/15/2033 $208,240
Ultra Clean Holdings Inc, Second Amendment Term B Loan, 08/27/2025 $52,510
United Airlines Inc, Class B Term Loan, 04/21/2028 $70,855
United Auto Credit Securitization Trust 2019-1, 4.2900% 08/12/2024 $298,655
United States Treasury Note/Bond, 0.1250% 05/31/2022 $870,272
United States Treasury Note/Bond, 0.2500% 05/31/2025 $712,822
United States Treasury Note/Bond, 0.3750% 09/30/2027 $1,108,163
United States Treasury Note/Bond, 1.5000% 02/15/2030 $560,485
United States Treasury Note/Bond, 2.8750% 05/15/2049 $234,195
University Support Services LLC, Term Loan B, 06/29/2028 $143,179
UPC Financing Partnership, Facility AX, 01/31/2029 $139,020
US Farathane LLC, Term B-5 Loan, 12/23/2024 $73,356
22 Virtus Variable Insurance Trust: Virtus Newfleet Multi-Sector Intermediate Bond Series
Fund Investments as of : 06/30/2021 (Unaudited)
Security Name Market Value USASF Receivables 2020-1 LLC, 3.2200% 05/15/2024 $351,130
Vcat 2020-Npl1 LLC , 3.6710% 08/25/2050 $101,993
Vcat 2021-Npl1 LLC , 4.8262% $164,895
Vcat 2021-Npl3 LLC , 1.7430% $227,533
Veros Automobile Receivables Trust 2020-1, 2.1900% 06/16/2025 $292,304
Vertiv Group Corp, Term B Loan, 03/02/2027 $103,841
Verus Securitization Trust 2019-4, 3.2070% $112,081
Viant Medical Holdings Inc, Initial Term Loan (First Lien), 07/02/2025 $254,429
Virtusa Corp, Closing Date Term Loan, 02/11/2028 $20,010
Visio 2020-1R Trust, 1.5670% $134,120
Volt C LLC , 1.9918% $135,377
Volt Xcii LLC , 1.8925% $251,738
Waystar Technologies Inc, Initial Term Loan (First Lien), 10/22/2026 $123,733
Weld North Education LLC, 2020 Term Loan, 12/15/2027 $159,280
Wells Fargo Mortgage Backed Securities 2020-4 Trust, 3.0000% $99,242
WFRBS Commercial Mortgage Trust 2014-C24, 3.9310% $147,814
William Morris Endeavor Entertainment LLC, New Term Loan B-1, 05/18/2025 $112,398
Zebra Buyer LLC, Term Loan, 04/22/2028 $20,046
Zep Inc, Initial Term Loan (First Lien), 08/12/2024 $191,285
Total Invested Assets: $114,676,483
The holdings do not include cash, cash equivalents, futures, forward contracts. This fund is actively managed and current holdings may be different. The fund holdings listing provided here is not part of the fund's annual/semiannual report or Form NPORT-EX. The most recent annual/semiannual report can be viewed at www.virtus.com. Forms NPORT-EX are available at the SEC's website at www.sec.gov. The information provided in this listing may differ from a fund's holdings disclosed in it's annual/semiannual report and Form NPORT-EX. Please carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For this and other information about any Virtus mutual fund, call 1-800-243-4361 or visit www.virtus.com for a prospectus and/or summary prospectus. Read the prospectus and/or summary prospectus carefully before you invest or send money.
Mutual funds distributed by VP Distributors, LLC.
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