Virtus Duff & Phelps International Securities Fund Fund Investments as of : 06/30/2021 (Unaudited)

Percentage of Market Value by Country

Australia 9.8% United Kingdom Australia Belgium 1.7% Sweden Belgium Canada 9.0% Spain Canada China 2.4% Singapore China France 3.0% France Germany 11.9% Hong Kong 12.0% Ireland 2.6% Japan 20.8% Singapore 4.2% Spain 5.0% Sweden 4.9% United Kingdom 12.6%

Japan Germany Total: 100.0% Ireland Hong Kong

Australia 9.78%

Shares Security Name Market Value

54,339 NEXTDC Ltd $483,313

100,718 Dexus $805,942

588,920 GPT Group/The $0

490,504 National Storage REIT $728,350

562,000 Scentre Group $1,154,833

Australia Total Market Value: $3,172,438

Belgium 1.74%

Shares Security Name Market Value

14,766 Warehouses De Pauw CVA $563,783

Belgium Total Market Value: $563,783

Canada 8.97%

Shares Security Name Market Value

22,300 Allied Properties Real Estate Investment Trust $810,435

30,200 Boardwalk Real Estate Investment Trust $995,947

1 11,326 Granite Real Estate Investment Trust $753,605

24,300 Summit Industrial Income REIT $348,347

Canada Total Market Value: $2,908,334

China 2.44%

Shares Security Name Market Value

10,100 GDS Holdings Ltd $792,749

China Total Market Value: $792,749

France 2.99%

Shares Security Name Market Value

37,631 Klepierre SA $969,613

France Total Market Value: $969,613

Germany 11.91%

Shares Security Name Market Value

153,640 Aroundtown SA $1,198,735

10,600 Deutsche Wohnen SE $648,306

31,149 Vonovia SE $2,013,692

Germany Total Market Value: $3,860,734

Hong Kong 11.97%

Shares Security Name Market Value

168,000 Hysan Development Co Ltd $669,680

176,441 Link REIT $1,710,030

504,000 Swire Properties Ltd $1,502,724

Hong Kong Total Market Value: $3,882,434

Ireland 2.59%

Shares Security Name Market Value

466,000 Irish Residential Properties REIT PLC $840,996

Ireland Total Market Value: $840,996

2 Japan 20.79%

Shares Security Name Market Value

525 Ichigo Office REIT Investment Corp $466,898

132 Kenedix Office Investment Corp $930,339

426 Kenedix Residential Next Investment Corp $920,677

135,600 Mitsubishi Estate Co Ltd $2,192,767

199 Mitsui Fudosan Logistics Park Inc $1,060,426

368 Nippon Prologis REIT Inc $1,170,962

Japan Total Market Value: $6,742,068

Singapore 4.21%

Shares Security Name Market Value

525,100 Ascendas India Trust $542,789

390,600 Mapletree Industrial Trust $822,041

Singapore Total Market Value: $1,364,830

Spain 5.04%

Shares Security Name Market Value

58,500 Inmobiliaria Colonial Socimi SA $590,655

100,800 Merlin Properties Socimi SA $1,044,158

Spain Total Market Value: $1,634,813

Sweden 4.91%

Shares Security Name Market Value

11,297 Catena AB $604,840

81,600 Kungsleden AB $987,808

Sweden Total Market Value: $1,592,649

United Kingdom 12.65%

Shares Security Name Market Value

14,831 PLC $681,122

64,726 Holdings PLC $847,901

36,368 PLC $550,619

3 64,600 UNITE Group PLC/The $959,739

92,000 PLC $1,061,378

United Kingdom Total Market Value: $4,100,760

Total Invested Assets: $32,426,200

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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