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

Percentage of Market Value by Country

Australia 3.9% Australia Belgium 1.2% Belgium Canada 4.7% Canada France 2.5% France Germany 4.7% Germany Hong Kong 3.1% Hong Kong Ireland 0.8% Ireland Japan 8.6% Singapore 1.7% Spain 2.1% Sweden 3.0% Japan United Kingdom 5.4% Singapore United States 58.3% Spain Sweden Total: 100.0% United States United Kingdom

Australia 3.94%

Shares Security Name Market Value

447,476 NEXTDC Ltd $3,980,034

13,566 GPT Group/The $0

3,165,933 National Storage REIT $4,701,097

3,296,000 Scentre Group $6,772,828

Australia Total Market Value: $15,453,959

Belgium 1.16%

Shares Security Name Market Value

119,237 Warehouses De Pauw CVA $4,552,606

Belgium Total Market Value: $4,552,606

Canada 4.71%

Shares Security Name Market Value

109,550 Allied Properties Real Estate Investment Trust $3,981,306

188,300 Boardwalk Real Estate Investment Trust $6,209,829

92,679 Granite Real Estate Investment Trust $6,166,638

1 149,000 Summit Industrial Income REIT $2,135,955

Canada Total Market Value: $18,493,728

France 2.51%

Shares Security Name Market Value

24,200 Gecina SA $3,707,413

238,580 Klepierre SA $6,147,335

France Total Market Value: $9,854,749

Germany 4.66%

Shares Security Name Market Value

909,180 Aroundtown SA $7,093,636

173,094 Vonovia SE $11,190,023

Germany Total Market Value: $18,283,659

Hong Kong 3.09%

Shares Security Name Market Value

513,504 Link REIT $4,976,775

2,393,000 Swire Properties Ltd $7,134,957

Hong Kong Total Market Value: $12,111,733

Ireland 0.84%

Shares Security Name Market Value

1,829,900 Irish Residential Properties REIT PLC $3,302,442

Ireland Total Market Value: $3,302,442

Japan 8.61%

Shares Security Name Market Value

517 Kenedix Office Investment Corp $3,643,827

1,885 Kenedix Residential Next Investment Corp $4,073,887

766,200 Mitsubishi Estate Co Ltd $12,390,101

1,490 Mitsui Fudosan Logistics Park Inc $7,939,871

1,806 Nippon Prologis REIT Inc $5,746,622

2 Japan Total Market Value: $33,794,309

Singapore 1.70%

Shares Security Name Market Value

3,515,800 Ascendas India Trust $3,634,240

1,435,140 Mapletree Industrial Trust $3,020,336

Singapore Total Market Value: $6,654,576

Spain 2.14%

Shares Security Name Market Value

313,500 Inmobiliaria Colonial Socimi SA $3,165,303

507,100 Merlin Properties Socimi SA $5,252,903

Spain Total Market Value: $8,418,206

Sweden 2.97%

Shares Security Name Market Value

112,691 Catena AB $6,033,467

464,900 Kungsleden AB $5,627,843

Sweden Total Market Value: $11,661,310

United Kingdom 5.36%

Shares Security Name Market Value

80,810 Derwent London PLC $3,711,245

312,957 Holdings PLC $4,099,690

197,928 PLC $2,996,673

437,900 UNITE Group PLC/The $6,505,724

321,500 PLC $3,709,056

United Kingdom Total Market Value: $21,022,387

United States 58.33%

Shares Security Name Market Value

38,229 Alexandria Real Estate Equities Inc $6,955,384

184,250 American Homes 4 Rent $7,158,113

3 104,478 Apartment Income REIT Corp $4,955,392

47,465 AvalonBay Communities Inc $9,905,471

32,085 Boston Properties Inc $3,676,620

338,433 Brixmor Property Group Inc $7,746,731

183,500 Cousins Properties Inc $6,749,130

202,375 CubeSmart $9,374,010

63,685 CyrusOne Inc $4,554,751

141,405 Douglas Emmett Inc $4,754,036

211,066 Duke Realty Corp $9,993,975

14,225 Equinix Inc $11,416,985

90,865 Equity Residential $6,996,605

58,265 Extra Space Storage Inc $9,544,972

163,100 Healthcare Trust of America Inc $4,354,770

297,800 Healthpeak Properties Inc $9,913,762

292,906 Host Hotels & Resorts Inc $5,005,764

189,910 Invitation Homes Inc $7,081,744

54,800 Mid-America Apartment Communities Inc $9,229,416

168,634 Prologis Inc $20,156,822

76,350 Regency Centers Corp $4,891,745

59,700 Rexford Industrial Realty Inc $3,399,915

196,707 RLJ Lodging Trust $2,995,848

50,635 Ryman Hospitality Properties Inc $3,998,140

15,900 SBA Communications Corp $5,067,330

75,831 Simon Property Group Inc $9,894,429

157,316 Spirit Realty Capital Inc $7,525,997

104,435 STORE Capital Corp $3,604,052

68,806 Sun Communities Inc $11,793,348

40,980 VEREIT Inc $1,882,211

116,250 VICI Properties Inc $3,606,075

129,800 Welltower Inc $10,786,380

United States Total Market Value: $228,969,923

4 Total Invested Assets: $392,573,587

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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