INVESTMENT COMPANY BLANKET BOND—SUMMARY PREMIUM ALLOCATION 7/1/2022 - 7/1/2023

Premium for $44M bond coverage limit( 50,626 + 32,908)		83,534.00
Allocation: 13% VP Distributors		10,859.42
12% Virtus Fund Services		10,024.08
26% Investment Advisors		21,718.84		[SEE DISTRIBUTION BELOW]
1% Virtus Partners		835.34
48% Mutual Funds		40,096.32		[SEE DISTRIBUTION BELOW]
FUND	Gross Assets as of 6-30-2022		% of (48%) Total			Total Allocated Premium
Virtus Alternative Solutions Trust		130,408,541.08		0.001907209			76.47
Virtus Asset Trust		8,822,263,586.82		0.129024528			5,173.41
Virtus Equity Trust		11,940,243,234.32		0.1746246			7,001.80
Virtus Event Opportunities Trust		485,701,132.31		0.00710332			284.82
Virtus Investment Trust		11,302,219,025.81		0.165293573			6,627.66
Virtus Opportunities Trust		14,073,686,781.88		0.205825951			8,252.86
Virtus Strategy Trust		3,768,453,898.86		0.055113178			2,209.84
Virtus Variable Insurance Trust		817,635,278.07		0.011957816			479.46
The Merger Fund ®		4,978,987,296.13		0.072817081			2,919.70
The Merger Fund ® VL		65,744,536.37		0.000961506			38.55
DNP Select Income Fund, Inc. (DNP)		4,455,446,690.99		0.065160364			2,612.69
DTF Tax Free Income 2028 Term Fund Inc. (DTF)		157,236,269.68		0.002299561			92.20
Duff & Phelps Global Utility and Infrastructure Fund, Inc. (DPG)		706,167,810.10		0.010327618			414.10
Virtus Global Multi-Sector Income Fund (VGI)		154,259,310.14		0.002256024			90.46
Virtus Total Return Fund Inc. (ZTR)		546,521,030.95		0.007992803			320.48
ETFis Series Trust I		1,151,953,967.00		0.016847186			675.51
Virtus ETF Series Trust II		192,240,881.42		0.002811499			112.73
Virtus Artificial Intelligence & Technology Opportunities Fund (AIO)		781,063,045.80		0.011422952			458.02
Virtus Convertible & Income Fund (NCV)		685,657,416.87		0.010027656			402.07
Virtus Convertible & Income Fund II (NCZ)		543,877,718.05		0.007954145			318.93
Virtus Convertible & Income 2024 Target Term Fund (CBH)		239,290,718.00		0.003499598			140.32
Virtus Diversified Income & Convertible Fund (ACV)		324,135,959.12		0.004740449			190.07
Virtus Equity & Convertible Income Fund (NIE)		666,001,291.79		0.009740188			390.55
Virtus Dividend, Interest & Premium Strategy Fund (NFJ)		1,262,724,202.48		0.018467187			740.47
Virtus Stone Harbor Emerging Markets Income Fund (EDF)		73,503,416.00		0.001074978			43.10
Virtus Stone Harbor Emerging Markets Total Income Fund (EDI)		51,216,111.46		0.000749029			30.03
Total		68,376,639,151.50		100.00	%		40,096.32
INVESTMENT ADVISER	Gross Assets by Adviser as of 6-30-2022		% of (26%) Total			Allocated Premium
Virtus Investment Advisers, Inc.		19,223,063,098.60		0.281135			6,105.93
Virtus Alternative Investment Advisers, Inc.		126,272,897.57		0.001847			40.11
Virtus ETF Advisers LLC		1,208,230,094.80		0.017670			383.78
Virtus Fund Advisers, LLC		371,588,043.37		0.005434			118.03
Ceredex Value Advisors LLC		3,886,932,342.36		0.056846			1,234.63
Duff & Phelps Investment Management Co.		6,783,800,063.04		0.099212			2,154.77
Kayne Anderson Rudnick Investment Management, LLC		13,832,970,623.93		0.202306			4,393.84
Newfleet Asset Management, a division of Virtus Fixed Income Advisers, LLC		7,722,953,926.93		0.112947			2,453.08
NFJ Investment Group, LLC		3,723,733,470.39		0.054459			1,182.79
Seix Investment Advisors, a division of Virtus Fixed Income Advisers, LLC		4,500,523,542.22		0.065820			1,429.53
Silvant Capital Management LLC		113,572,862.03		0.001661			36.07
Sustainable Growth Advisers, LP		292,956,092.22		0.004284			93.05
Stone Harbor Investment Partners, a division of Virtus Fixed Income Advisers, LLC		1,059,609,129.23		0.015497			336.57
Westchester Capital Management, LLC / Westchester Capital Partners, LLC		5,530,432,964.81		0.080882			1,756.66
Total		68,376,639,151.50		100.00	%		21,718.84