Virtus Fixed Income Advisers, LLC

Key Holdings

The portfolio is dominated by internal Virtus ETFs, which collectively account for the vast majority of assets. Specifically, the top three positions, all listed as "VIRTUS ETF TR II," represent approximately 85.25% of the total portfolio value:

1. Primary Position: The largest holding is valued at $65.67M (50.13% of the portfolio). This position saw a massive increase of 104.2% (+$33.22M), indicating it is the primary recipient of new capital.
2. Secondary Position: The second holding is valued at $24.92M (19.03%).
3. Tertiary Position: The third holding is valued at $21.07M (16.09%). This position was reduced by 21.6% (-$5.78M), suggesting some profit-taking or rebalancing away from this specific sleeve.