NPORT-EX 2 822208VirtNFMultiSecBd.htm

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF

July 31, 2021 (unaudited)

 

Security Description  Principal  Value
    
CORPORATE BONDS – 40.5%   
           
Communication Services – 3.5%          
           
Cars.com, Inc., 6.38%, 11/01/28(1)  $45,000   $48,102 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 03/01/30(1)   25,000    26,530 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 08/15/30(1)   40,000    42,050 
Cincinnati Bell, Inc., 7.00%, 07/15/24(1)   29,000    29,689 
Cinemark USA, Inc., 5.88%, 03/15/26(1)   30,000    29,512 
Clear Channel Worldwide Holdings, Inc., 5.13%, 08/15/27(1)   15,000    15,425 
Diamond Sports Group LLC / Diamond Sports Finance Co., 5.38%, 08/15/26(1)   25,000    14,531 
Diamond Sports Group LLC / Diamond Sports Finance Co., 6.63%, 08/15/27(1)   40,000    15,927 
DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 5.88%, 08/15/27(1)   5,000    5,176 
DISH DBS Corp., 7.75%, 07/01/26   13,000    14,852 
Frontier Communications Corp., 6.75%, 05/01/29(1)   45,000    48,015 
iHeartCommunications, Inc., 8.38%, 05/01/27   29,008    30,893 
Level 3 Financing, Inc., 4.25%, 07/01/28(1)   15,000    15,291 
Level 3 Financing, Inc., 3.63%, 01/15/29(1)   25,000    24,321 
Live Nation Entertainment, Inc., 5.63%, 03/15/26(1)   20,000    20,850 
Live Nation Entertainment, Inc., 4.75%, 10/15/27(1)   35,000    35,788 
Mav Acquisition Corp., 8.00%, 08/01/29(1)   30,000    29,397 
Nexstar Media, Inc., 4.75%, 11/01/28(1)   20,000    20,650 
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 6.00%, 02/15/28(1)   5,000    4,931 
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 10.75%, 06/01/28(1)   20,000    22,592 
Radiate Holdco LLC / Radiate Finance, Inc., 4.50%, 09/15/26(1)   5,000    5,181 
Radiate Holdco LLC / Radiate Finance, Inc., 6.50%, 09/15/28(1)   40,000    41,618 
T-Mobile USA, Inc., 3.88%, 04/15/30   55,000    62,289 
TripAdvisor, Inc., 7.00%, 07/15/25(1)   25,000    26,723 
Twitter, Inc., 3.88%, 12/15/27(1)   55,000    58,898 
Univision Communications, Inc., 5.13%, 02/15/25(1)   35,000    35,610 
Total Communication Services        724,841 
           
Consumer Discretionary – 4.2%          
           
Adtalem Global Education, Inc., 5.50%, 03/01/28(1)   45,000    46,272 
Ambience Merger Sub, Inc., 4.88%, 07/15/28(1)   10,000    10,050 
Ambience Merger Sub, Inc., 7.13%, 07/15/29(1)   40,000    40,556 
Caesars Entertainment, Inc., 6.25%, 07/01/25(1)   10,000    10,573 
Caesars Entertainment, Inc., 8.13%, 07/01/27(1)   5,000    5,505 
Carriage Services, Inc., 4.25%, 05/15/29(1)   45,000    45,000 
Carvana Co., 5.63%, 10/01/25(1)   30,000    31,187 
Carvana Co., 5.88%, 10/01/28(1)   25,000    26,516 
Clarios Global LP / Clarios US Finance Co., 8.50%, 05/15/27(1)   45,000    48,656 
Cooper-Standard Automotive, Inc., 13.00%, 06/01/24(1)   20,000    22,694 
Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.50%, 02/15/23(1)   31,000    32,448 
Security Description    Principal    Value  
           
CORPORATE BONDS (continued)          
           
Consumer Discretionary (continued)          
           
Ford Motor Co., 9.00%, 04/22/25  $34,000   $41,895 
Golden Nugget, Inc., 8.75%, 10/01/25(1)   25,000    26,437 
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.00%, 06/01/29(1)   25,000    25,258 
M/I Homes, Inc., 4.95%, 02/01/28   55,000    57,771 
Metis Merger Sub LLC, 6.50%, 05/15/29(1)   25,000    24,552 
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc., 4.63%, 06/15/25(1)   10,000    10,655 
Michaels Cos Inc. (The), 7.88%, 05/01/29(1)   10,000    10,390 
Mohegan Gaming & Entertainment, 8.00%, 02/01/26(1)   30,000    31,273 
NCL Corp. Ltd., 5.88%, 03/15/26(1)   20,000    20,175 
NCL Finance Ltd., 6.13%, 03/15/28(1)   10,000    10,113 
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/26(1)   45,000    48,093 
Peninsula Pacific Entertainment LLC / Peninsula Pacific Entertainment Finance In, 8.50%, 11/15/27(1)   5,000    5,406 
PulteGroup, Inc., 7.88%, 06/15/32   25,000    36,744 
Royal Caribbean Cruises Ltd., 9.13%, 06/15/23(1)   20,000    21,789 
Royal Caribbean Cruises Ltd., 4.25%, 07/01/26(1)   10,000    9,773 
Royal Caribbean Cruises Ltd., 5.50%, 04/01/28(1)   5,000    5,105 
Scientific Games International, Inc., 8.25%, 03/15/26(1)   25,000    26,563 
Station Casinos LLC, 4.50%, 02/15/28(1)   25,000    25,210 
Tenneco, Inc., 5.13%, 04/15/29(1)   45,000    46,350 
Under Armour, Inc., 3.25%, 06/15/26   30,000    31,175 
Weekley Homes LLC / Weekley Finance Corp., 4.88%, 09/15/28(1)   25,000    25,908 
Total Consumer Discretionary        860,092 
           
Consumer Staples – 1.0%          
           
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.25%, 03/15/26(1)   60,000    61,633 
Herbalife Nutrition Ltd. / HLF Financing, Inc., 7.88%, 09/01/25(1)   35,000    38,063 
HLF Financing Sarl LLC / Herbalife International, Inc., 4.88%, 06/01/29(1)   20,000    20,217 
Triton Water Holdings, Inc., 6.25%, 04/01/29(1)   10,000    10,026 
Turning Point Brands, Inc., 5.63%, 02/15/26(1)   30,000    31,299 
Vector Group Ltd., 5.75%, 02/01/29(1)   40,000    40,656 
Total Consumer Staples        201,894 
           
Energy – 5.8%          
           
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 7.50%, 05/01/25(1)   50,000    50,565 
Antero Midstream Partners LP / Antero Midstream Finance Corp., 7.88%, 05/15/26(1)   25,000    27,746 
Antero Midstream Partners LP / Antero Midstream Finance Corp., 5.75%, 01/15/28(1)   40,000    41,933 
                 


 

 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description   Principal      Value 
           
CORPORATE BONDS (continued)          
           
Energy (continued)           
           
Antero Resources Corp., 8.38%, 07/15/26(1)  $9,000   $10,194 
Antero Resources Corp., 7.63%, 02/01/29(1)   10,000    10,975 
Antero Resources Corp., 5.38%, 03/01/30(1)   15,000    15,281 
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 8.25%, 12/31/28(1)   45,000    48,731 
Callon Petroleum Co., 6.13%, 10/01/24   25,172    23,629 
Cheniere Energy, Inc., 4.63%, 10/15/28   15,000    15,855 
Chesapeake Energy Corp., 5.50%, 02/01/26(1)   30,000    31,360 
Chesapeake Energy Corp., 5.88%, 02/01/29(1)   5,000    5,325 
Cimarex Energy Co., 4.38%, 03/15/29   45,000    51,611 
Citgo Holding, Inc., 9.25%, 08/01/24(1)   10,000    9,987 
Colgate Energy Partners III LLC, 5.88%, 07/01/29(1)   5,000    5,201 
CrownRock LP / CrownRock Finance, Inc., 5.63%, 10/15/25(1)   45,000    46,250 
CrownRock LP / CrownRock Finance, Inc., 5.00%, 05/01/29(1)   15,000    15,705 
CSI Compressco LP / CSI Compressco Finance, Inc., 7.50%, 04/01/25(1)   52,000    52,269 
Energy Transfer LP, Series H, 6.50%, (US 5 Year CMT T- Note + 5.69%), perpetual(2)(3)   50,000    51,440 
EQM Midstream Partners LP, 6.00%, 07/01/25(1)   10,000    10,903 
EQM Midstream Partners LP, 6.50%, 07/01/27(1)   10,000    11,238 
EQM Midstream Partners LP, 4.50%, 01/15/29(1)   5,000    5,077 
EQM Midstream Partners LP, 4.75%, 01/15/31(1)   5,000    5,095 
Hilcorp Energy I LP / Hilcorp Finance Co., 5.75%, 02/01/29(1)   60,000    61,296 
Hilcorp Energy I LP / Hilcorp Finance Co., 6.00%, 02/01/31(1)   10,000    10,469 
HollyFrontier Corp., 5.88%, 04/01/26   45,000    52,162 
Indigo Natural Resources LLC, 5.38%, 02/01/29(1)   40,000    41,786 
Kinder Morgan, Inc., Series G, 7.75%, 01/15/32   43,000    63,173 
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26(1)   20,000    20,458 
Mesquite Energy, Inc., Escrow, 7.25%(4)   12,000    330 
Nabors Industries Ltd., 7.25%, 01/15/26(1)   25,000    23,416 
Oasis Petroleum, Inc., 6.38%, 06/01/26(1)   5,000    5,181 
Occidental Petroleum Corp., 3.50%, 08/15/29   25,000    25,002 
Occidental Petroleum Corp., 6.63%, 09/01/30   45,000    54,967 
Occidental Petroleum Corp., 6.13%, 01/01/31   20,000    23,654 
Parsley Energy LLC / Parsley Finance Corp., 4.13%, 02/15/28(1)   25,000    26,299 
Patterson-UTI Energy, Inc., 5.15%, 11/15/29   45,000    46,617 
Plains All American Pipeline LP / PAA Finance Corp., 3.80%, 09/15/30   50,000    54,313 
Sabine Pass Liquefaction LLC, 4.20%, 03/15/28   50,000    56,778 
Security Description   Principal      Value 
           
CORPORATE BONDS (continued)          
           
Energy (continued)           
           
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.88%, 04/15/26  $25,000   $26,187 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.88%, 02/01/31(1)   5,000    5,413 
Transocean, Inc., 11.50%, 01/30/27(1)   4,000    3,985 
USA Compression Partners LP / USA Compression Finance Corp., 6.88%, 04/01/26   18,000    18,876 
Venture Global Calcasieu Pass LLC, 4.13%, 08/15/31(1)   15,000    15,551 
Total Energy        1,182,283 
           
Financials – 10.8%          
           
Acrisure LLC / Acrisure Finance, Inc., 7.00%, 11/15/25(1)   35,000    35,575 
Allstate Corp. (The), Series B, 5.75%, (3-Month USD LIBOR + 2.94%), 08/15/53(2)   55,000    59,645 
Ally Financial, Inc., Series B, 4.70%, (US 5 Year CMT T- Note + 3.87%), perpetual(2)(3)   78,000    81,783 
Athene Global Funding, 2.45%, 08/20/27(1)   70,000    73,831 
Bank of America Corp., 1.73%, (SOFR + 0.96%), 07/22/27(2)   65,000    66,160 
Bank of America Corp., 3.42%, (3-Month USD LIBOR  + 1.04%), 12/20/28(2)   45,000    49,478 
Bank of New York Mellon Corp. (The), Series G, 4.70%, (US 5 Year CMT T-Note + 4.36%), perpetual(2)(3)   65,000    72,073 
Blue Owl Finance LLC, 3.13%, 06/10/31(1)   60,000    60,734 
Brighthouse Financial, Inc., 3.70%, 06/22/27   11,000    12,159 
Brighthouse Financial, Inc., 5.63%, 05/15/30   40,000    49,281 
Brightsphere Investment Group, Inc., 4.80%, 07/27/26   50,000    54,245 
BroadStreet Partners, Inc., 5.88%, 04/15/29(1)   30,000    30,414 
Charles Schwab Corp. (The), Series H, 4.00%, (US 10 Year CMT T- Note + 3.08%), perpetual(2)(3)   50,000    52,123 
Citadel LP, 4.88%, 01/15/27(1)   50,000    54,536 
Citigroup, Inc., Series W, 4.00%, (US 5 Year CMT T- Note + 3.60%), perpetual(2)(3)   30,000    31,074 
Citigroup, Inc., 3.98%, (3-Month USD LIBOR + 1.34%), 03/20/30(2)   80,000    91,250 
Corporate Office Properties LP, 2.75%, 04/15/31   50,000    51,272 
Discover Financial Services, Series D, 6.13%, (US 5 Year CMT T- Note + 5.78%), perpetual(2)(3)   20,000    22,601 
Goldman Sachs Group, Inc. (The), 1.99%, (SOFR + 1.09%), 01/27/32(2)   75,000    73,995 
HCRX Investments Holdco LP, 4.50%, 08/01/29(1)   40,000    40,850 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 05/15/26   45,000    47,362 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 5.25%, 05/15/27   25,000    26,312 
JPMorgan Chase & Co., Series HH, 4.60%, (SOFR + 3.13%), perpetual(2)(3)   34,000    35,233 
JPMorgan Chase & Co., 2.96%, (SOFR + 2.52%), 05/13/31(2)   105,000    111,919 


 

 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
     
CORPORATE BONDS (continued)    
     
Financials (continued)    
     
JPMorgan Chase & Co., 1.95%, (SOFR + 1.07%), 02/04/32(2)  $100,000   $98,703 
KeyCorp, Series D, 5.00%, (3-Month USD LIBOR + 3.61%), perpetual(2)(3)   45,000    50,046 
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.25%, 02/01/27(1)   40,000    39,984 
Lincoln National Corp., 2.17%, (3-Month USD LIBOR + 2.04%), 04/20/67(2)   45,000    38,805 
MetLife, Inc., Series G, 3.85%, (US 5 Year CMT T- Note + 3.58%), perpetual(2)(3)   30,000    31,463 
MetLife, Inc., Series D, 5.88%, (3-Month USD LIBOR + 2.96%), perpetual(2)(3)   52,000    60,933 
Morgan Stanley, 3.95%, 04/23/27   75,000    84,560 
Navient Corp., 6.75%, 06/25/25   44,000    49,057 
OneMain Finance Corp., 7.13%, 03/15/26   42,000    49,508 
Prospect Capital Corp., 3.71%, 01/22/26   45,000    46,517 
Prudential Financial, Inc., 5.63%, (3-Month USD LIBOR + 3.92%), 06/15/43(2)   65,000    69,662 
Santander Holdings USA, Inc., 4.40%, 07/13/27   59,000    66,767 
Synovus Financial Corp., 5.90%, (USD 5 Year Swap + 3.38%), 02/07/29(2)   25,000    27,105 
Texas Capital Bancshares, Inc., 4.00%, (US 5 Year CMT T- Note + 3.15%), 05/06/31(2)   70,000    72,926 
Truist Financial Corp., Series Q, 5.10%, (US 10 Year CMT T- Note + 4.35%), perpetual(2)(3)   50,000    57,625 
Wells Fargo & Co., Series BB, 3.90%, (US 5 Year CMT T-Note + 3.45%), perpetual(2)(3)   70,000    72,714 
Total Financials        2,200,280 
           
Health Care – 2.9%          
           
Akumin, Inc., 7.00%, 11/01/25(1)   50,000    51,062 
Bausch Health Americas, Inc., 9.25%, 04/01/26(1)   24,000    26,010 
Bausch Health Americas, Inc., 8.50%, 01/31/27(1)   15,000    16,237 
Bausch Health Cos., Inc., 7.00%, 01/15/28(1)   35,000    36,801 
Centene Corp., 4.63%, 12/15/29   20,000    21,944 
CHS/Community Health Systems, Inc., 6.63%, 02/15/25(1)   20,000    20,997 
CHS/Community Health Systems, Inc., 6.88%, 04/15/29(1)   20,000    21,117 
CHS/Community Health Systems, Inc., 6.13%, 04/01/30(1)   10,000    10,144 
CHS/Community Health Systems, Inc., 4.75%, 02/15/31(1)   15,000    15,244 
DaVita, Inc., 4.63%, 06/01/30(1)   30,000    31,050 
Encompass Health Corp., 4.50%, 02/01/28   25,000    26,000 
Endo Luxembourg Finance Co. I Sarl / Endo US, Inc., 6.13%, 04/01/29(1)   15,000    14,929 
HCA, Inc., 5.63%, 09/01/28   17,000    20,465 
Illumina, Inc., 2.55%, 03/23/31   42,000    43,526 
Jaguar Holding Co. II / PPD Development LP, 5.00%, 06/15/28(1)   15,000    16,183 
Lannett Co., Inc., 7.75%, 04/15/26(1)   10,000    9,837 
Legacy LifePoint Health LLC, 6.75%, 04/15/25(1)   20,000    21,204 
Security Description  Principal   Value 
         
CORPORATE BONDS (continued)          
           
Health Care (continued)          
           
Legacy LifePoint Health LLC, 4.38%, 02/15/27(1)  $30,000   $30,175 
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA, 7.25%, 02/01/28(1)   2,000    2,182 
Par Pharmaceutical, Inc., 7.50%, 04/01/27(1)   15,000    15,321 
Prime Healthcare Services, Inc., 7.25%, 11/01/25(1)   5,000    5,378 
Surgery Center Holdings, Inc., 6.75%, 07/01/25(1)   12,000    12,226 
Surgery Center Holdings, Inc., 10.00%, 04/15/27(1)   30,000    32,809 
Team Health Holdings, Inc., 6.38%, 02/01/25(1)   40,000    37,151 
Tenet Healthcare Corp., 7.50%, 04/01/25(1)   5,000    5,381 
Viatris, Inc., 2.70%, 06/22/30(1)   45,000    46,259 
Total Health Care        589,632 
           
Industrials – 3.7%          
           
Allied Universal Holdco LLC / Allied Universal Finance Corp., 6.63%, 07/15/26(1)   55,000    58,300 
American Airlines Group, Inc., 5.00%, 06/01/22(1)   45,000    44,944 
American Airlines, Inc., 11.75%, 07/15/25(1)   60,000    75,075 
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/26(1)   10,000    10,475 
APX Group, Inc., 5.75%, 07/15/29(1)   25,000    25,133 
Aviation Capital Group LLC, 3.50%, 11/01/27(1)   61,000    64,857 
BCPE Ulysses Intermediate, Inc., 7.75%, 04/01/27, 7.75% Cash or 8.50% PIK(1)(5)   25,000    25,163 
Boeing Co. (The), 5.15%, 05/01/30   35,000    41,731 
Boeing Co. (The), 3.75%, 02/01/50   20,000    20,827 
Boeing Co. (The), 5.93%, 05/01/60   13,000    18,018 
Cleaver-Brooks, Inc., 7.88%, 03/01/23(1)   40,000    39,630 
CoStar Group, Inc., 2.80%, 07/15/30(1)   58,000    60,009 
CP Atlas Buyer, Inc., 7.00%, 12/01/28(1)   55,000    56,835 
Delta Air Lines, Inc., 3.75%, 10/28/29   30,000    29,807 
Deluxe Corp., 8.00%, 06/01/29(1)   20,000    21,878 
General Electric Co., Series D, 3.45%, (3-Month USD LIBOR + 3.33%), perpetual(2)(3)   65,000    63,839 
LBM Acquisition LLC, 6.25%, 01/15/29(1)   15,000    15,048 
Spirit AeroSystems, Inc., 5.50%, 01/15/25(1)   40,000    42,050 
TransDigm, Inc., 5.50%, 11/15/27   30,000    31,012 
United Airlines, Inc., 4.38%, 04/15/26(1)   5,000    5,151 
United Airlines, Inc., 4.63%, 04/15/29(1)   5,000    5,150 
Total Industrials        754,932 
           
Information Technology – 3.4%          
           
Banff Merger Sub, Inc., 9.75%, 09/01/26(1)   20,000    21,051 
Broadcom, Inc., 4.15%, 11/15/30   55,000    62,428 
Broadcom, Inc., 2.45%, 02/15/31(1)   17,000    16,955 
Citrix Systems, Inc., 3.30%, 03/01/30   80,000    85,287 
Dell International LLC / EMC Corp., 8.10%, 07/15/36   49,000    76,363 
Elastic NV, 4.13%, 07/15/29(1)   5,000    5,025 
HP, Inc., 3.40%, 06/17/30   65,000    69,913 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
         
CORPORATE BONDS (continued)          
           
Information Technology (continued)          
           
MicroStrategy, Inc., 6.13%, 06/15/28(1)  $30,000   $30,152 
Motorola Solutions, Inc., 4.60%, 02/23/28   30,000    35,185 
Motorola Solutions, Inc., 4.60%, 05/23/29   10,000    11,828 
NCR Corp., 5.13%, 04/15/29(1)   30,000    31,268 
Plantronics, Inc., 4.75%, 03/01/29(1)   30,000    29,288 
Rocket Software, Inc., 6.50%, 02/15/29(1)   30,000    29,889 
Science Applications International Corp., 4.88%, 04/01/28(1)   40,000    42,036 
SYNNEX Corp., 2.38%, 08/09/28(1)   65,000    65,186 
Viasat, Inc., 5.63%, 09/15/25(1)   50,000    50,924 
Xerox Holdings Corp., 5.50%, 08/15/28(1)   35,000    36,970 
Total Information Technology        699,748 
           
Materials – 1.8%          
           
Chemours Co. (The), 5.75%, 11/15/28(1)   30,000    31,880 
Cleveland-Cliffs, Inc., 6.75%, 03/15/26(1)   35,000    37,818 
Freeport-McMoRan, Inc., 5.45%, 03/15/43   30,000    38,605 
Hecla Mining Co., 7.25%, 02/15/28   35,000    37,982 
International Flavors & Fragrances, Inc., 2.30%, 11/01/30(1)   40,000    40,986 
Louisiana-Pacific Corp., 3.63%, 03/15/29(1)   50,000    50,550 
Mauser Packaging Solutions Holding Co., 7.25%, 04/15/25(1)   30,000    29,345 
Trident TPI Holdings, Inc., 9.25%, 08/01/24(1)   30,000    31,682 
Trident TPI Holdings, Inc., 6.63%, 11/01/25(1)   40,000    41,002 
U.S. Steel Corp., 6.88%, 03/01/29   20,000    21,734 
Total Materials        361,584 
           
Real Estate – 2.1%          
           
American Assets Trust LP, 3.38%, 02/01/31   60,000    63,131 
EPR Properties, 4.75%, 12/15/26   50,000    54,005 
GLP Capital LP / GLP Financing II, Inc., 5.25%, 06/01/25   52,000    58,867 
GLP Capital LP / GLP Financing II, Inc., 5.75%, 06/01/28   16,000    19,253 
Iron Mountain, Inc., 5.25%, 07/15/30(1)   10,000    10,669 
iStar, Inc., 4.25%, 08/01/25   40,000    41,590 
MPT Operating Partnership LP / MPT Finance Corp., 4.63%, 08/01/29   10,000    10,779 
Office Properties Income Trust, 4.50%, 02/01/25   50,000    54,275 
Retail Properties of America, Inc., 4.75%, 09/15/30   55,000    62,198 
Service Properties Trust, 4.38%, 02/15/30   55,000    51,562 
Total Real Estate        426,329 
           
Utilities – 1.3%          
           
CMS Energy Corp., 4.75%, (US 5 Year CMT T- Note + 4.12%), 06/01/50(2)   80,000    90,024 
Ferrellgas LP / Ferrellgas Finance Corp., 5.38%, 04/01/26(1)   5,000    4,944 
Ferrellgas LP / Ferrellgas Finance Corp., 5.88%, 04/01/29(1)   5,000    4,985 
National Fuel Gas Co., 2.95%, 03/01/31   40,000    41,204 
PG&E Corp., 5.25%, 07/01/30   35,000    34,212 
Southern Co. (The), Series 21-A, 3.75%, (US 5 Year CMT T- Note + 2.92%), 09/15/51(2)   58,000    59,175 
Talen Energy Supply, LLC, 6.63%, 01/15/28(1)   35,000    31,151 
Total Utilities        265,695 
Security Description  Principal   Value 
         
CORPORATE BONDS (continued)          
           
Total Corporate Bonds          
(Cost $7,911,169)       $8,267,310 
           
TERM LOANS – 20.2%          
           
Aerospace – 1.0%          
           
AI Convoy Luxembourg Sarl, 4.50%, (6-Month USD LIBOR + 3.50%), 01/18/27(2)  $10,147    10,152 
Air Canada, 0.00%, (6-Month USD LIBOR + 3.50%), 07/27/28(6)   7,059    7,079 
Amentum Government Services Holdings LLC, 5.50%, (3-Month USD LIBOR + 4.75%), 01/29/27(2)   14,963    15,019 
American Airlines, Inc., 5.50%, (3-Month USD LIBOR + 4.75%), 04/20/28(2)   5,000    5,148 
Brown Group Holding LLC, 3.25%, (3-Month USD LIBOR + 2.75%), 04/22/28(2)   37,475    37,257 
KKR Apple Bidco LLC, 0.00%, (1-Month USD LIBOR + 0.00%), 07/14/28(6)   25,000    24,855 
Mileage Plus Holdings LLC, 6.25%, (3-Month USD LIBOR + 5.25%), 06/21/27(2)   30,000    31,845 
TransDigm Inc, 2.34%, (1-Month USD LIBOR + 2.25%), 05/30/25(2)   14,962    14,716 
TransDigm, Inc., 2.34%, (1-Month USD LIBOR + 2.25%), 12/09/25(2)   37,366    36,756 
United Airlines, Inc., 4.50%, (1-Month USD LIBOR + 3.75%), 04/21/28(2)   14,963    15,008 
Total Aerospace        197,835 
           
Chemicals – 1.0%          
           
Aruba Investments Holdings LLC, 4.75%, (3-Month USD LIBOR + 4.00%), 11/24/27(2)   14,963    15,028 
CPC Acquisition Corp., 4.50%, (3-Month USD LIBOR + 3.75%), 12/29/27(2)   29,925    29,813 
Herens US Holdco Corp., 4.75%, (3-Month USD LIBOR + 4.00%), 06/29/28(2)   20,000    20,025 
Herens US Holdco Corp., 0.00%, (3-Month USD LIBOR + 4.00%), 06/29/28(6)   20,000    20,025 
INEOS US Finance LLC, 0.00%, (3-Month USD LIBOR  + 0.00%), 03/31/24(6)   44,922    44,369 
Innophos Holdings, Inc., 3.59%, (1-Month USD LIBOR + 3.50%), 02/05/27(2)   49,674    49,643 
Nouryon USA LLC, 2.86%, (1-Month USD LIBOR + 2.75%), 10/01/25(2)   25,088    24,812 
Total Chemicals        203,715 
           
Consumer Durables – 0.1%          
           
Protective Industrial Products, Inc., 4.75%, (1-Month USD LIBOR + 4.00%), 12/29/27(2)   28,587    28,480 
           
Consumer Non-Durables – 0.9%          
           
Diamond (BC) B.V., 3.09%, (1-Month USD LIBOR + 3.00%), 09/06/24(2)   44,362    44,056 
Parfums Holding Co., Inc., 4.09%, (1-Month USD LIBOR + 4.00%), 06/28/24(2)   58,502    58,341 
Rodan & Fields, LLC, 4.09%, (1-Month USD LIBOR + 4.00%), 06/16/25(2)   31,704    25,271 
SRAM LLC, 3.25%, (3-Month USD LIBOR + 2.75%), 05/18/28(2)   13,636    13,585 
SRAM LLC, 3.25%, (1-Month USD LIBOR + 2.75%), 05/18/28(2)   1,091    1,087 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
 
TERM LOANS (continued)          
           
Consumer Non-Durables (continued)          
           
Zep Inc., 5.00%, (3-Month USD LIBOR + 4.00%), 08/12/24(2)  $39,794   $38,759 
Total Consumer Non-Durables        181,099 
           
Energy – 0.6%          
           
CITGO Petroleum Corp., 7.25%, (3-Month USD LIBOR + 6.25%), 03/28/24(2)   35,644    35,794 
Hamilton Projects Acquiror LLC, 5.75%, (3-Month USD LIBOR + 4.75%), 06/17/27(2)   24,750    24,475 
Medallion Midland Acquisition, LLC, 4.25%, (1-Month USD LIBOR + 3.25%), 10/30/24(2)   29,922    29,762 
Traverse Midstream Partners LLC, 6.50%, (1-Month USD LIBOR + 5.50%), 09/27/24(2)   23,243    23,292 
Total Energy        113,323 
           
Financials – 0.7%          
           
Asurion LLC, 0.00%, (1-Month USD LIBOR + 5.25%), 07/31/27(6)   20,000    19,669 
Asurion LLC, 3.34%, (1-Month USD LIBOR + 3.25%), 07/31/27(2)   14,963    14,715 
Asurion LLC, 5.34%, (1-Month USD LIBOR + 5.25%), 01/31/28(2)   15,000    14,952 
Asurion LLC, 0.00%, (1-Month USD LIBOR + 5.25%), 01/15/29(6)   15,000    14,948 
Avolon TLB Borrower 1 US LLC, 3.25%, (1-Month USD LIBOR + 2.50%), 12/01/27(2)   14,925    14,944 
Citadel Securities LP, 2.59%, (1-Month USD LIBOR + 2.50%), 02/02/28(2)   44,888    44,182 
Deerfield Dakota Holding LLC, 4.75%, (1-Month USD LIBOR + 3.75%), 04/09/27(2)   24,775    24,819 
Zebra Buyer LLC, 0.00%, (1-Month USD LIBOR + 0.00%), 04/21/28(6)   5,000    5,010 
Total Financials        153,239 
           
Food/Tobacco – 0.6%          
           
Chobani LLC, 4.50%, (1-Month USD LIBOR + 3.50%), 10/25/27(2)   9,925    9,933 
Froneri US, Inc., 2.34%, (1-Month USD LIBOR + 2.25%), 01/29/27(2)   34,650    34,072 
H-Food Holdings, LLC (aka Hearthside Food Solutions, LLC), 3.78%, (1-Month USD LIBOR + 3.69%), 05/23/25(2)   24,682    24,481 
Shearer’s Foods LLC, 4.25%, (3-Month USD LIBOR  + 3.50%), 09/23/27(2)   19,642    19,655 
Triton Water Holdings, Inc., 4.00%, (3-Month USD LIBOR  + 3.50%), 03/31/28(2)   35,000    34,779 
Total Food/Tobacco        122,920 
           
Forest Prod/Containers – 0.6%          
           
Anchor Glass Container Corp., 0.00%, (3-Month USD LIBOR  + 0.00%), 12/07/23(6)   14,922    13,926 
Berlin Packaging LLC, 3.75%, (3-Month USD LIBOR + 3.25%), 03/11/28(2)   39,900    39,611 
BWAY Holding Co., 3.34%, (1-Month USD LIBOR + 3.25%), 04/03/24(2)   14,961    14,511 
Kloeckner Pentaplast of America, Inc., 5.25%, (3-Month USD LIBOR  + 4.75%), 02/12/26(2)   39,900    39,962 
Security Description  Principal   Value 
         
TERM LOANS (continued)          
           
Forest Prod/Containers (continued)          
           
Technimark Holdings LLC, 4.25%, (3-Month USD LIBOR + 3.75%), 06/30/28(2)  $15,000   $14,919 
Total Forest Prod/Containers        122,929 
           
Gaming/Leisure – 1.2%          
           
Caesars Resort Collection LLC, 2.84%, (1-Month USD LIBOR + 2.75%), 12/23/24(2)   39,897    39,503 
Carnival Corp, 3.75%, (3-Month USD LIBOR + 3.00%), 06/30/25(2)   4,950    4,924 
CCM Merger, Inc., 4.50%, (3-Month USD LIBOR  + 3.75%), 11/04/25(2)   8,691    8,713 
ECL Entertainment LLC, 8.25%, (1-Month USD LIBOR + 7.50%), 05/01/28(2)   5,000    5,100 
Everi Payments, Inc., 3.50%, (1-Month USD LIBOR + 2.75%), 05/09/24(2)   20,000    19,978 
Hilton Grand Vacations Borrower LLC, 0.00%, (1-Month USD LIBOR + 0.00%), 05/19/28(6)   5,000    4,989 
J&J Ventures Gaming LLC, 4.75%, (1-Month USD LIBOR + 4.00%), 04/26/28(2)   25,000    25,125 
Playa Resorts Holding B.V., 3.75%, (1-Month USD LIBOR + 2.75%), 04/29/24(2)   59,236    57,107 
Pug LLC, 3.59%, (1-Month USD LIBOR + 3.50%), 02/12/27(2)   34,475    33,786 
Pug LLC, 0.00%, (1-Month USD LIBOR + 4.25%), 02/12/27(6)   8,571    8,523 
Raptor Acquisition Corp, 0.00%, (1-Month USD LIBOR + 0.00%), 11/01/26(6)   10,000    10,009 
Scientific Games International, Inc., 2.84%, (1-Month USD LIBOR + 2.75%), 08/14/24(2)   18,371    18,125 
Stars Group Holdings BV, 2.40%, (2-Month USD LIBOR + 2.25%), 07/21/26(2)   18,653    18,539 
Total Gaming/Leisure        254,421 
           
Health Care – 3.9%          
           
Accelerated Health Systems, LLC, 3.59%, (1-Month USD LIBOR + 3.50%), 10/31/25(2)   38,853    38,732 
AHP Health Partners, Inc., 4.75%, (1-Month USD LIBOR + 3.75%), 06/30/25(2)   47,623    47,737 
ANI Pharmaceuticals Inc, 0.00%, (1-Month USD LIBOR + 0.00%), 05/24/27(6)   20,000    20,050 
Athenahealth, Inc., 4.41%, (3-Month USD LIBOR  + 4.25%), 02/11/26(2)   9,975    9,990 
Azalea Topco Inc, 4.50%, (3-Month USD LIBOR + 3.75%), 07/24/26(2)   49,825    49,970 
Azalea Topco Inc, 4.50%, (1-Month USD LIBOR + 3.75%), 07/24/26(2)   125    125 
CHG Healthcare Services, Inc. (fka CHG Buyer Corp.), 4.00%, (3-Month USD LIBOR + 3.00%), 06/07/23(2)   83,665    83,613 
Envision Health Care Corp., 3.84%, (1-Month USD LIBOR + 3.75%), 10/10/25(2)   30,122    25,868 
eResearchTechnology, Inc., 5.50%, (1-Month USD LIBOR + 4.50%), 02/04/27(2)   4,987    5,003 
Heartland Dental LLC, 4.09%, (1-Month USD LIBOR + 4.00%), 04/30/25(2)   35,000    34,923 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description

 

Principal

  

Value

 
 
TERM LOANS (continued)          
           
Health Care (continued)          
           
Insulet Corp., 3.75%, (1-Month USD LIBOR + 3.25%), 05/04/28(2)  $10,000   $10,020 
LifePoint Health Inc, 3.84%, (1-Month USD LIBOR + 3.75%), 11/16/25(2)   20,000    19,856 
Milano Acquisition Corp., 4.75%, (3-Month USD LIBOR + 4.00%), 10/01/27(2)   29,850    29,892 
One Call Corp., 6.25%, (3-Month USD LIBOR + 5.50%), 04/22/27(2)   50,000    50,437 
Packaging Coordinators Midco, Inc., 4.25%, (3-Month USD LIBOR + 3.50%), 11/30/27(2)   19,950    19,952 
PAREXEL International Corp., 2.84%, (1-Month USD LIBOR + 2.75%), 09/27/24(2)   40,000    39,920 
PetVet Care Centers LLC, 4.25%, (1-Month USD LIBOR + 3.50%), 02/14/25(2)   49,798    49,720 
PetVet Care Centers LLC, 3.34%, (1-Month USD LIBOR + 3.25%), 02/14/25(2)   8,206    8,119 
Phoenix Guarantor, Inc., 3.60%, (1-Month USD LIBOR + 3.50%), 03/05/26(2)   39,875    39,498 
Phoenix Guarantor, Inc., 3.34%, (1-Month USD LIBOR + 3.25%), 03/05/26(2)   39,499    39,049 
Pluto Acquisition I Inc, 4.14%, (2-Month USD LIBOR + 4.00%), 06/20/26(2)   25,000    24,875 
Sotera Health Holdings LLC, 3.25%, (3-Month USD LIBOR  + 2.75%), 12/13/26(2)   10,000    9,973 
Sunshine Luxembourg VII Sarl, 4.50%, (3-Month USD LIBOR  + 3.75%), 10/01/26(2)   14,963    14,991 
Surgery Center Holdings, Inc., 4.50%, (1-Month USD LIBOR + 3.75%), 08/31/26(2)   24,938    24,958 
Upstream Newco Inc, 0.00%, (1-Month USD LIBOR + 4.25%), 11/20/26(6)   22,500    22,395 
Viant Medical Holdings, Inc., 3.84%, (1-Month USD LIBOR + 3.75%), 07/02/25(2)   64,681    62,664 
Waystar Technologies, Inc., 4.09%, (1-Month USD LIBOR + 4.00%), 10/22/26(2)   4,962    4,952 
Total Health Care        787,282 
           
Housing – 0.4%          
           
84 Lumber Co., 3.75%, (1-Month USD LIBOR + 3.00%), 11/13/26(2)   19,950    19,903 
Quikrete Holdings, Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 05/12/28(6)   45,000    44,578 
SRS Distribution Inc, 4.25%, (3-Month USD LIBOR + 3.75%), 06/02/28(2)   15,000    14,914 
Total Housing        79,395 
           
Information Technology – 2.7%          
           
Acuris Finance US, Inc., 4.50%, (3-Month USD LIBOR  + 4.00%), 02/16/28(2)   3,385    3,398 
Applied Systems, Inc., 6.25%, (3-Month USD LIBOR  + 5.50%), 09/19/25(2)   29,460    29,886 
Austin BidCo, Inc., 5.00%, (1-Month USD LIBOR + 4.25%), 02/11/28(2)   4,988    5,013 
Barracuda Networks, Inc., 4.50%, (3-Month USD LIBOR + 3.75%), 02/12/25(2)   19,850    19,902 
Boxer Parent Co, Inc., 3.84%, (1-Month USD LIBOR + 3.75%), 10/02/25(2)   42,001    41,705 
Epicor Software Corp., 4.00%, (1-Month USD LIBOR + 3.25%), 07/30/27(2)   49,750    49,665 
Security Description  Principal   Value 
 
TERM LOANS (continued)          
           
Information Technology (continued)          
           
Greeneden US Holdings II LLC, 4.75%, (1-Month USD LIBOR + 4.00%), 12/01/27(2)  $14,925   $14,958 
Hyland Software, Inc., 4.25%, (1-Month USD LIBOR + 3.50%), 07/01/24(2)   29,796    29,838 
Infinite Bidco LLC, 4.25%, (1-Month USD LIBOR  + 3.75%), 03/02/28(2)   30,000    29,981 
Infinite Bidco LLC, 7.50%, (1-Month USD LIBOR  + 7.00%), 03/02/29(2)   10,000    10,100 
ION Trading Finance Ltd, 4.92%, (3-Month USD LIBOR  + 4.75%), 04/01/28(2)   5,000    5,015 
Magenta Buyer LLC, 0.00%, (3-Month USD LIBOR + 5.00%), 04/29/28(6)   20,000    19,931 
Masergy Holdings, Inc., 4.25%, (3-Month USD LIBOR + 3.25%), 12/15/23(2)   22,385    22,360 
Project Ruby Ultimate Parent Corp., 4.00%, (1-Month USD LIBOR + 3.25%), 03/10/28(2)   29,925    29,803 
Proofpoint, Inc., 0.00%, (1-Month USD LIBOR + 0.00%), 06/09/28(6)   30,000    29,745 
RealPage, Inc., 3.75%, (1-Month USD LIBOR + 3.25%), 04/24/28(2)   40,000    39,808 
Rocket Software Inc, 0.00%, (1-Month USD LIBOR + 0.00%), 11/28/25(6)   25,000    24,474 
Sophia LP, 4.50%, (3-Month USD LIBOR + 3.75%), 10/07/27(2)   24,875    24,888 
Thoughtworks, Inc., 3.75%, (1-Month USD LIBOR + 3.25%), 03/24/28(2)   30,017    29,980 
Thoughtworks, Inc., 5.50%, (3-Month USD LIBOR + 2.25%), 03/24/28(2)   4,895    4,889 
UKG, Inc., 4.00%, (3-Month USD LIBOR + 3.25%), 05/04/26(2)   39,713    39,742 
Ultra Clean Holdings, Inc., 3.86%, (1-Month USD LIBOR + 3.75%), 08/27/25(2)   9,477    9,497 
Vertiv Group Corp., 2.85%, (1-Month USD LIBOR + 2.75%), 03/02/27(2)   29,726    29,486 
Total Information Technology        544,064 
           
Manufacturing – 1.3%          
           
Alliance Laundry Systems LLC, 4.25%, (3-Month USD LIBOR  + 3.50%), 10/08/27(2)   39,421    39,439 
Arcline FM Holdings LLC, 5.50%, (3-Month USD LIBOR + 4.75%), 06/23/28(2)   15,000    15,056 
Arcline FM Holdings LLC, 9.00%, (3-Month USD LIBOR + 8.25%), 06/15/29(2)   5,000    5,075 
CIRCOR International, Inc., 4.25%, (1-Month USD LIBOR + 3.25%), 12/11/24(2)   30,000    29,839 
Filtration Group Corp., 4.50%, (1-Month USD LIBOR + 3.75%), 03/29/25(2)   24,813    24,865 
Filtration Group Corp., 3.09%, (1-Month USD LIBOR + 3.00%), 03/31/25(2)   19,946    19,765 
Gates Global LLC, 3.50%, (1-Month USD LIBOR + 2.75%), 03/31/27(2)   39,800    39,603 
Gates Global LLC, 0.00%, (1-Month USD LIBOR + 2.75%), 03/31/27(6)   15,000    14,926 
LEB Holdings USA, Inc., 4.50%, (3-Month USD LIBOR + 3.75%), 11/02/27(2)   34,825    34,929 
Star US Bidco LLC, 5.25%, (1-Month USD LIBOR + 4.25%), 03/17/27(2)   24,750    24,804 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
 
TERM LOANS (continued)          
           
Manufacturing (continued)          
           
Truck Hero, Inc., 4.50%, (1-Month USD LIBOR + 3.75%), 01/31/28(2)  $4,988   $4,979 
US Farathane LLC, 5.25%, (3-Month USD LIBOR  + 4.25%), 12/23/24(2)   13,658    13,589 
Total Manufacturing        266,869 
           
Media/Telecom - Broadcasting – 0.2%          
           
Diamond Sports Group LLC, 3.35%, (1-Month USD LIBOR + 3.25%), 08/24/26(2)   19,650    10,866 
Directv Financing LLC, 0.00%, (1-Month USD LIBOR + 5.00%), 07/22/27(6)   15,000    14,989 
Univision Communications, Inc., 3.75%, (1-Month USD LIBOR + 2.75%), 03/15/24(2)   20,000    19,956 
Total Media/Telecom - Broadcasting        45,811 
           
Media/Telecom - Cable/Wireless Video – 0.4%          
           
CSC Holdings, LLC, 2.34%, (1-Month USD LIBOR + 2.25%), 01/15/26(2)   57,987    57,081 
Intelsat Jackson Holdings SA, 8.63%, (1-Month USD LIBOR + 8.63%), 01/02/24(2)   15,000    15,303 
Radiate Holdco LLC, 4.25%, (1-Month USD LIBOR + 3.50%), 09/25/26(2)   3,741    3,731 
Total Media/Telecom - Cable/Wireless Video        76,115 
           
Media/Telecom - Diversified Media – 0.4%          
           
Mav Acquisition Corp, 0.00%, (3-Month USD LIBOR + 4.75%), 07/21/28(6)   24,000    23,784 
UPC Financing Partnership, 3.09%, (1-Month USD LIBOR + 3.00%), 01/31/29(2)   25,000    24,781 
William Morris Endeavor Entertainment LLC, 2.85%, (1-Month USD LIBOR + 2.75%), 05/19/25(2)   29,920    29,151 
Total Media/Telecom - Diversified Media        77,716 
           
Media/Telecom - Telecommunications – 0.3%          
           
Altice France SA/France, 3.81%, (3-Month USD LIBOR  + 3.69%), 01/31/26(2)   29,540    29,230 
CenturyLink, Inc., 2.34%, (1-Month USD LIBOR + 2.25%), 03/15/27(2)   14,775    14,561 
Consolidated Communications, Inc., 4.25%, (1-Month USD LIBOR + 3.50%), 10/02/27(2)   10,710    10,687 
Securus Technologies Holdings, Inc., 6.98%, (3-Month USD LIBOR  + 4.50%), 11/01/24(2)   9,923    9,279 
Total Media/Telecom - Telecommunications        63,757 
           
Retail – 0.8%          
           
CNT Holdings I Corp., 4.50%, (3-Month USD LIBOR + 3.75%), 11/08/27(2)   24,938    24,918 
Great American Outdoors, 5.00%, (3-Month USD LIBOR  + 4.25%), 03/06/28(2)   29,850    29,932 
Harbor Freight Tools USA Inc, 3.25%, (1-Month USD LIBOR + 2.75%), 10/19/27(2)   39,800    39,669 
Michaels Cos Inc. (The), 5.00%, (1-Month USD LIBOR  + 4.25%), 04/15/28(2)   20,000    20,041 
Petco Health & Wellness Co, Inc., 4.00%, (3-Month USD LIBOR  + 3.25%), 03/03/28(2)   19,950    19,886 
PetSmart, Inc., 4.50%, (3-Month USD LIBOR  + 3.75%), 02/11/28(2)   20,000    20,018 
Security Description  Principal   Value 
 
TERM LOANS (continued)          
           
Retail (continued)          
           
Rising Tide Holdings Inc, 5.50%, (1-Month USD LIBOR + 4.75%), 06/01/28(2)  $15,000   $15,040 
Total Retail        169,504 
           
Service – 2.5%          
           
AIT Worldwide Logistics Holdings, Inc., 5.50%, (3-Month USD LIBOR  + 4.75%), 04/06/28(2)   10,000    10,025 
AlixPartners LLP, 0.00%, (1-Month USD LIBOR + 2.75%), 02/04/28(6)   20,000    19,893 
Allied Universal Holdco LLC, 4.25%, (3-Month USD LIBOR + 3.75%), 05/12/28(2)   10,000    10,005 
Dun & Bradstreet Corp. (The), 3.34%, (1-Month USD LIBOR + 3.25%), 02/06/26(2)   54,551    54,159 
DXP Enterprises, Inc./TX, 5.75%, (1-Month USD LIBOR + 4.75%), 12/23/27(2)   14,925    15,000 
ENSEMBLE RCM LLC, 3.88%, (3-Month USD LIBOR  + 3.75%), 08/03/26(2)   4,975    4,977 
Grab Holdings, Inc., 5.50%, (3-Month USD LIBOR  + 4.50%), 01/29/26(2)   34,913    35,218 
Hertz Corp/The, 0.00%, (1-Month USD LIBOR + 3.50%), 06/30/28(6)   4,852    4,830 
Hertz Corp/The, 0.00%, (1-Month USD LIBOR + 3.50%), 06/30/28(6)   30,452    30,309 
Hoya Midco, LLC, 4.50%, (1-Month USD LIBOR + 3.50%), 06/30/24(2)   29,569    29,434 
NAB Holdings, LLC, 4.00%, (3-Month USD LIBOR + 3.00%), 07/01/24(2)   19,846    19,855 
Paysafe Holdings US Corp, 3.25%, (1-Month USD LIBOR + 2.75%), 06/28/28(2)   30,000    29,963 
Paysafe Holdings US Corp, 0.00%, (1-Month USD LIBOR + 2.75%), 06/28/28(6)   10,000    9,987 
Peraton Corp., 4.50%, (1-Month USD LIBOR + 3.75%), 02/01/28(2)   31,920    31,940 
Pike Corp., 3.10%, (1-Month USD LIBOR + 3.00%), 01/21/28(2)   52,740    52,527 
PODS LLC, 3.75%, (1-Month USD LIBOR + 3.00%), 03/31/28(2)   44,888    44,719 
Sedgwick Claims Management Services, Inc., 3.84%, (1-Month USD LIBOR + 3.75%), 09/03/26(2)   49,672    49,339 
TTF Holdings LLC, 5.00%, (3-Month USD LIBOR + 4.00%), 03/31/28(2)   10,000    9,987 
University Support Services LLC, 0.00%, (1-Month USD LIBOR + 0.00%), 06/29/28(6)   32,160    32,046 
Weld North Education LLC, 4.75%, (1-Month USD LIBOR + 4.00%), 12/21/27(2)   24,875    24,900 
Total Service        519,113 
           
Transportation - Automotive – 0.4%          
           
Cooper-Standard Automotive, Inc., 2.75%, (1-Month USD LIBOR + 2.00%), 11/02/23(2)   49,320    48,211 
Mavis Tire Express Services TopCo LP, 4.75%, (3-Month USD LIBOR + 4.00%), 05/04/28(2)   20,000    20,003 
PAI Holdco Inc, 4.50%, (3-Month USD LIBOR + 3.75%), 10/28/27(2)   4,988    4,987 
Total Transportation - Automotive        73,201 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

 

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
           
TERM LOANS (continued)          
           
Utilities – 0.2%          
           
Brookfield WEC Holdings, Inc., 3.25%, (1-Month USD LIBOR + 2.75%), 08/01/25(2)  $33,798   $33,367 
PG&E Corp., 3.50%, (3-Month USD LIBOR  + 3.00%), 06/23/25(2)   9,900    9,663 
Total Utilities        43,030 
Total Term Loans          
(Cost $4,119,775)        4,123,818 
           
FOREIGN BONDS – 15.5%          
           
Communication Services – 0.3%          
           
Telesat Canada / Telesat LLC, 6.50%, 10/15/27 (Canada)(1)   85,000    72,250 
           
Consumer Discretionary – 0.2%          
           
Gateway Casinos & Entertainment Ltd., 8.25%, 03/01/24 (Canada)(1)   35,000    35,101 
Raptor Acquisition Corp. / Raptor Co.-Issuer LLC, 4.88%, 11/01/26 (Canada)(1)   5,000    5,088 
Total Consumer Discretionary        40,189 
           
Consumer Staples – 0.6%          
Anheuser-Busch InBev Worldwide, Inc., 4.75%, 01/23/29 (Belgium)   45,000    54,178 
BAT Capital Corp., 4.91%, 04/02/30 (United Kingdom)   55,000    64,053 
Total Consumer Staples        118,231 
           
Energy – 2.2%          
           
BP Capital Markets PLC, 4.88%, (US 5 Year CMT T- Note + 4.40%), perpetual (United Kingdom)(2)(3)   50,000    55,328 
Coronado Finance Pty Ltd., 10.75%, 05/15/26 (Australia)(1)   40,000    43,452 
Northriver Midstream Finance LP, 5.63%, 02/15/26 (Canada)(1)   20,000    20,659 
Petrobras Global Finance BV, 7.38%, 01/17/27 (Brazil)   25,000    30,429 
Petrobras Global Finance BV, 5.60%, 01/03/31 (Brazil)   20,000    22,285 
Petroleos Mexicanos, 6.50%, 03/13/27 (Mexico)   95,000    100,724 
Petroleos Mexicanos, 5.95%, 01/28/31 (Mexico)   85,000    83,661 
Petroleos Mexicanos, 6.35%, 02/12/48 (Mexico)   80,000    68,489 
Petroleos Mexicanos, 7.69%, 01/23/50 (Mexico)   20,000    19,465 
Total Energy        444,492 
           
Financials – 0.6%          
           
Ascot Group Ltd., 4.25%, 12/15/30 (Bermuda)(1)   45,000    47,644 
Fairfax Financial Holdings Ltd., 4.85%, 04/17/28 (Canada)   70,000    81,680 
Total Financials        129,324 

 

Security Description  Principal   Value 
           
FOREIGN BONDS (continued)          
           
Government – 10.0%          
           
Argentine Republic Government International Bond, 1.13%, 07/09/35 (Argentina)(7)  $65,000   $21,126 
Argentine Republic Government International Bond, 2.50%, 07/09/41 (Argentina)(7)   70,000    26,288 
Colombia Government International Bond, 3.13%, 04/15/31 (Colombia)   200,000    196,332 
Dominican Republic International Bond, 5.95%, 01/25/27 (Dominican Republic)(1)   100,000    112,601 
Ecuador Government International Bond, 1.00%, 07/31/35 (Ecuador)(1)(7)   30,000    20,925 
Egypt Government International Bond, 7.60%, 03/01/29 (Egypt)(1)   200,000    217,550 
El Salvador Government International Bond, 5.88%, 01/30/25 (El Salvador)(1)   45,000    40,523 
Emirate of Dubai Government International Bonds, Series E, 5.25%, 01/30/43 (United Arab Emirates)   200,000    226,482 
Ghana Government International Bond, 8.13%, 03/26/32 (Ghana)(1)   200,000    200,231 
Israel Government International Bond, 2.75%, 07/03/30 (Israel)   200,000    215,609 
Mexico Government International Bond, 4.50%, 01/31/50 (Mexico)   200,000    214,724 
Saudi Government International Bond, 3.63%, 03/04/28 (Saudi Arabia)(1)   200,000    221,751 
Turkey Government International Bond, 7.38%, 02/05/25 (Turkey)   105,000    114,183 
Ukraine Government International Bond, 7.25%, 03/15/33 (Ukraine)(1)   200,000    206,748 
Total Government        2,035,073 
           
Health Care – 0.3%          
           
Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/01/26 (Israel)   55,000    52,847 
           
Industrials – 0.6%          
           
Avolon Holdings Funding Ltd., 4.38%, 05/01/26 (Ireland)(1)   47,000    51,746 
British Airways Pass-Through Trust, Class A, Series 2021-1, 2.90%, 03/15/35 (United Kingdom)(1)   40,000    40,653 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

 

July 31, 2021 (unaudited)

 

Security Description  Principal   Value 
         
FOREIGN BONDS (continued)          
           
Industrials (continued)          
           
Seaspan Corp., 5.50%, 08/01/29 (Hong Kong)(1)  $5,000   $4,992 
Titan Acquisition Ltd. / Titan Co.-Borrower LLC, 7.75%, 04/15/26 (Canada)(1)   20,000    20,652 
Total Industrials        118,043 
           
Materials – 0.7%          
           
NOVA Chemicals Corp., 5.00%, 05/01/25 (Canada)(1)   30,000    32,172 
Taseko Mines Ltd., 7.00%, 02/15/26 (Canada)(1)   40,000    41,213 
Teck Resources Ltd., 6.13%, 10/01/35 (Canada)   50,000    65,467 
Total Materials        138,852 
Total Foreign Bonds          
(Cost $3,071,840)        3,149,301 
           
U.S. GOVERNMENT SECURITIES – 7.3%          
U.S. Treasury Note          
1.13%, 08/31/21   505,000    505,433 
0.13%, 05/31/22   190,000    190,082 
1.25%, 08/31/24   45,000    46,222 
0.25%, 05/31/25   690,000    683,073 
0.88%, 06/30/26   50,000    50,457 
           
Total U.S. Government Securities          
(Cost $1,480,195)        1,475,267 
MORTGAGE BACKED SECURITIES - 6.0%          
Commercial Mortgage Backed Securities - 0.9%          
CF Hippolyta LLC, Class A1, Series 2020-1, 1.69%, 07/15/60(1)   95,150    97,371 
Morgan Stanley Bank of America Merrill Lynch Trust, Class AS, Series 2015-C22, 3.56%, 04/15/48   60,000    63,602 
Sutherland Commercial Mortgage Loans, Class A, Series 2017-SBC6, 3.19%, 05/25/37(1)(2)(8)   22,297    22,230 
Total Commercial Mortgage Backed Securities        183,203 
Mortgage Backed Security - 0.5%          
COMM Mortgage Trust, Class B, Series 2020-CBM, 3.10%, 02/10/37(1)   45,000    45,510 
Federal National Mortgage Association, 3.50%, 05/01/49   51,368    54,423 
Total Mortgage Backed Security        99,933 
Residential Mortgage Backed Securities - 4.6%          
Ajax Mortgage Loan Trust, Class A1, Series 2019-D, 2.96%, 09/25/65(1)(7)   90,094    90,796 
Arroyo Mortgage Trust, Class A1, Series 2019-2, 3.35%, 04/25/49(1)(2)(8)   45,536    46,466 
Cascade MH Asset Trust, Class A1, Series 2021-MH1, 1.75%, 02/25/46(1)   100,201    101,155 
COLT Mortgage Pass-Through Certificates, Class A1, Series 2021-1R, 0.86%, 05/25/65(1)(2)(8)   67,351    67,353 
CSMC, Class A1, Series 2021-NQM1, 0.81%, 05/25/65(1)(2)(8)   77,978    78,137 

 

Security Description  Principal   Value 
         
MORTGAGE BACKED SECURITIES (continued)        
         
Residential Mortgage Backed Securities (continued)          
           
New Residential Mortgage Loan Trust, Class A1, Series 2016-1A, 3.75%, 03/25/56(1)(2)(8)  $66,204   $70,161 
RCKT Mortgage Trust, Class A1, Series 2020-1, 3.00%, 02/25/50(1)(2)(8)   46,091    47,101 
Sequoia Mortgage Trust, Class B1, Series 2013-8, 3.50%, 06/25/43(2)(8)   114,856    116,950 
SG Residential Mortgage Trust, Class A1, Series 2019-3, 2.70%, 09/25/59(1)(2)(8)   32,302    32,489 
Towd Point Mortgage Trust, Class A2, Series 2018-6, 3.75%, 03/25/58(1)(2)(8)   100,000    106,942 
Towd Point Mortgage Trust, Class A1, Series 2018-4, 3.00%, 06/25/58(1)(2)(8)   60,832    63,374 
VOLT XCIV LLC, Class A1, Series 2021-NPL3, 2.24%, 02/27/51(1)(7)   121,206    121,530 
Total Residential Mortgage Backed Securities        942,454 
Total Mortgage Backed Securities          
(Cost $1,214,089)        1,225,590 
           
ASSET BACKED SECURITIES – 5.1%          
American Credit Acceptance Receivables Trust, Class D, Series 2020-4, 1.77%, 12/14/26(1)   45,000    45,820 
Arbys Funding LLC, Class A2, Series 2020-1A, 3.24%, 07/30/50(1)   49,500    52,334 
Business Jet Securities LLC, Class A, Series 2020-1A, 2.98%, 11/15/35(1)   15,795    16,170 
Carvana Auto Receivables Trust, Class D, Series 2019-3A, 3.04%, 04/15/25(1)   55,000    56,885 
CCG Receivables Trust, Class B, Series 2019-2, 2.55%, 03/15/27(1)   100,000    102,834 
DT Auto Owner Trust, Class C, Series 2019-2A, 3.18%, 02/18/25(1)   90,000    91,028 
Exeter Automobile Receivables Trust, Class E, Series 2019-2A, 4.68%, 05/15/26(1)   55,000    58,498 
FAT Brands Royalty LLC, Class A2, Series 2021-1A, 4.75%, 04/25/51(1)   50,000    50,485 
Flagship Credit Auto Trust, Class C, Series 2019-2, 3.09%, 05/15/25(1)   130,000    134,202 
MAPS Trust, Class A, Series 2021-1A, 2.52%, 06/15/46(1)   49,680    50,486 
Marlette Funding Trust, Class A, Series 2019-4A, 2.39%, 12/17/29(1)   17,667    17,748 
MVW Owner Trust, Class A, Series 2019-1A, 2.89%, 11/20/36(1)   44,781    46,323 
TRP LLC, Class A, Series 2021, 2.07%, 06/19/51(1)   70,000    70,105 
United Auto Credit Securitization Trust, Class E, Series 2019-1, 4.29%, 08/12/24(1)   80,000    81,314 
Upstart Securitization Trust, Class B, Series 2021-2, 1.75%, 06/20/31(1)   60,000    60,296 
Veros Automobile Receivables Trust, Class B, Series 2020-1, 2.19%, 06/16/25(1)   55,000    55,425 
Westlake Automobile Receivables Trust, Class C, Series 2020-3A, 1.24%, 11/17/25(1)   45,000    45,477 
           
Total Asset Backed Securities          
(Cost $1,016,694)        1,035,430 


 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF (continued)

 

July 31, 2021 (unaudited)

 

Security Description  Principal/
Shares		   Value 
         
EXCHANGE TRADED FUND - 1.0%          
           
Debt Fund - 1.0%          
           
VanEck Vectors High Yield Muni ETF          
(Cost $203,612)  $3,250   $207,578 
           
MUNICIPAL BOND – 0.0%(9)          
Sales Tax Securitization Corp., 3.41%, 01/01/43          
(Cost $5,000)   5,000    5,566 
MONEY MARKET FUND -  6.2%          
JP Morgan U.S. Government Money Market Institutional Shares, 0.01%(10)
(Cost $1,271,220)		   1,271,220    1,271,220 
TOTAL INVESTMENTS - 101.8%          
(Cost $20,293,594)        20,761,080 
Liabilities in Excess of Other Assets - (1.8)%        (362,487)
Net Assets - 100.0%       $20,398,593 

 

(1) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At July 31, 2021, the aggregate value of these securities was $7,627,968, or 37.4% of net assets.
(2) Variable rate instrument. The interest rate shown reflects the rate in effect at July 31, 2021.
(3) Perpetual security with no stated maturity date.
(4) Security valued at fair value as determined in good faith by or under the direction of the Trustees. This security is disclosed as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments.
(5) Payment in-kind security.
(6) The loan will settle after July 31, 2021. The interest rate, based on the LIBOR and the agreed upon spread on trade date, will be determined at the time of settlement.
(7) Represents step coupon bond. Rate shown reflects the rate in effect as of July 31, 2021.
(8) Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.
(9) Amount rounds to less than 0.05%.
(10) The rate shown reflects the seven-day yield as of July 31, 2021.

 

Abbreviations:
CMT — Constant Maturity Treasury Index
ETF — Exchange Traded Fund
LIBOR — London InterBank Offered Rate
PIK — Payment in-Kind
SOFR — Secured Overnight Financing Rate
 
Currency Abbreviations
 
USD United States Dollar

 



 

 

 

Schedule of Investments - Virtus Newfleet Multi-Sector Bond ETF

 

July 31, 2021 (unaudited)

 

Fair Value Measurements
The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
The following table summarizes valuation of the Fund’s investments under the fair value hierarchy levels as of July 31, 2021.

 

   Level 1   Level 2   Level 3   Total 
Asset Valuation Inputs                    
Corporate Bonds  $–   $8,266,980   $330   $8,267,310 
Term Loans   –    4,123,818    –    4,123,818 
Foreign Bonds   –    3,149,301    –    3,149,301 
U.S. Government Securities   –    1,475,267    –    1,475,267 
Mortgage Backed Securities   –    1,225,590    –    1,225,590 
Asset Backed Securities   –    1,035,430    –    1,035,430 
Exchange Traded Fund   207,578    –    –    207,578 
Municipal Bond   –    5,566    –    5,566 
Money Market Fund   1,271,220    –    –    1,271,220 
Total  $1,478,798   $19,281,952   $330   $20,761,080 

 

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the rollforward of Level 3 securities and assumptions are not shown for the period ended July 31, 2021.