Virtus Emerging Markets Opportunities
Fund
Fund Investments as of : 12/31/2015
(Unaudited)
Percentage of Market Value by Country
United Kingdom
Thailand
Taiwan
South Africa
Pakistan
Netherlands
Mexico
Malaysia
Korea (South)
Indonesia
Brazil
China
Hong Kong
Brazil
5.4%
China
7.3%
Hong Kong
6.4%
India
28.0%
Indonesia
6.8%
Korea (South)
5.5%
Malaysia
1.1%
Mexico
7.5%
Netherlands
5.1%
Pakistan
0.6%
South Africa
5.2%
Taiwan
3.7%
Thailand
3.8%
United Kingdom 13.5%
Total:
100.0%
India
Brazil
Shares
5.39%
Market Value
Security Name
41,872,512
Ambev SA Sponsored ADR
$186,751,404
2,613,452
Ultrapar Participacoes S.A.
$39,932,556
8,376,310
BB Seguridade Participacoes SA
$51,512,322
16,371,150
BM&FBOVESPA S.A. Bolsa de Valores, Mercadorias e Futuros
$45,063,336
21,138,378
Cielo S.A.
$179,472,510
Brazil Total Market Value:
China
$502,732,127
7.32%
Security Name
Market Value
Vipshop Holdings Ltd Sponsored ADR
$47,673,413
China Resources Beer (Holdings) Co. Ltd.
$24,166,408
7,586,627
Tsingtao Brewery Co., Ltd. Class H
$34,175,763
2,419,061
Alibaba Group Holding Ltd. Sponsored ADR
Shares
3,122,031
11,326,135
$196,597,087
624,533
Autohome, Inc. Sponsored ADR Class A
$21,808,692
649,349
Bitauto Holdings Ltd. Sponsored ADR
$18,363,590
864,238
NetEase, Inc. Sponsored ADR
$156,634,495
Tencent Holdings Ltd.
$182,516,427
9,321,581
1
China Total Market Value:
Hong Kong
Shares
13,761,536
831,949
23,487,285
$681,935,877
6.40%
Security Name
Market Value
Sands China Ltd.
$46,654,275
Hong Kong Exchanges & Clearing Ltd.
$21,193,726
Link Real Estate Investment Trust
$140,028,435
2,523,500
CK Hutchison Holdings Ltd
$33,920,706
3,806,376
CLP Holdings Limited
$32,262,863
35,159,551
Power Assets Holdings Limited
$322,327,051
Hong Kong Total Market Value:
India
$596,387,057
28.01%
Shares
Market Value
Security Name
2,330,411
Westlife Development Limited
3,288,854
Colgate-Palmolive (India) Limited
$8,352,052
$48,254,881
14,347,502
Hindustan Unilever Limited
$186,981,732
79,842,336
ITC Limited
$394,805,840
329,724
23,033,041
1,399,549
28,167,036
9,078,322
10,924,013
1,503,882
375,252
Nestle India Ltd.
$28,986,299
HDFC Bank Limited
$376,190,291
HDFC Bank Limited Sponsored ADR
$86,212,218
Housing Development Finance Corporation Limited
$535,732,554
Kotak Mahindra Bank Limited
$98,331,373
Cipla Limited
$107,086,531
Dr. Reddy's Laboratories Ltd.
$70,601,142
Dr. Reddy's Laboratories Ltd. Sponsored ADR
$17,370,415
14,226,396
Sun Pharmaceutical Industries Limited
$175,983,744
10,952,150
HCL Technologies Limited
$141,249,256
2,529,251
Infosys Limited
$42,146,283
7,885,507
Infosys Limited Sponsored ADR
$132,082,242
4,354,816
Tata Consultancy Services Limited
$160,098,607
India Total Market Value:
$2,610,465,460
2
Indonesia
6.82%
Security Name
Market Value
35,796,436
PT Matahari Department Store Tbk Class A
$45,315,934
18,991,100
PT Hanjaya Mandala Sampoerna Tbk
33,510,052
PT Unilever Indonesia Tbk
$89,452,267
175,907,531
PT Bank Central Asia Tbk
$168,533,351
907,667,622
PT Telekomunikasi Indonesia, Tbk Class B
$203,296,831
Shares
$129,271,769
Indonesia Total Market Value:
Korea (South)
$635,870,151
5.53%
Shares
Security Name
Market Value
586,926
Kangwon Land, Inc.
$19,156,327
350,744
AmorePacific Corp.
$123,085,615
179,546
LG Household & Health Care Ltd
$159,433,795
46,300
Orion Corp.
509,359
Samsung Fire & Marine Insurance Co., Ltd
526,015
Korea Aerospace Industries, Ltd.
$45,733,401
$133,149,618
$34,723,685
Korea (South) Total Market Value:
Malaysia
Shares
2,262,093
17,316,400
$515,282,441
1.12%
Security Name
Market Value
British American Tobacco Malaysia Bhd.
$29,504,159
Public Bank Bhd
$74,613,191
Malaysia Total Market Value:
Mexico
$104,117,351
7.50%
Security Name
Market Value
3,536,663
Grupo Televisa, S.A.B. Sponsored ADR
$96,232,600
3,627,680
Fomento Economico Mexicano SAB de CV Sponsored ADR Class B
$335,016,248
Wal-mart De Mexico Sab De Cv
$210,249,505
Shares
83,319,041
5,622,287
Industrias Penoles SAB de CV
$57,813,206
Mexico Total Market Value:
$699,311,559
3
Netherlands
Shares
5.14%
Market Value
Security Name
2,222,839
Heineken NV
$190,283,348
6,620,308
Unilever NV Cert. of shs
$288,541,739
Netherlands Total Market Value:
Pakistan
Shares
28,410,823
0.58%
Security Name
Market Value
Habib Bank Limited
$54,285,329
Pakistan Total Market Value:
South Africa
Shares
$478,825,087
$54,285,329
5.16%
Market Value
Security Name
2,054,497
Naspers Limited Class N
$281,638,127
8,511,938
Remgro Limited
$134,963,616
7,516,948
MTN Group Limited
$64,592,772
South Africa Total Market Value:
Taiwan
$481,194,515
3.71%
Security Name
Market Value
12,459,932
President Chain Store Corporation
$77,765,196
36,182,592
Taiwan Semiconductor Manufacturing Co., Ltd.
$156,100,432
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR
$112,044,751
Shares
4,925,044
Taiwan Total Market Value:
Thailand
Shares
$345,910,378
3.78%
Security Name
Market Value
109,630,300
C.P.ALL Public Co Ltd (Alien Mkt)
182,530,300
Thai Beverage Public Co., Ltd.
$88,611,322
Bangkok Bank Public Company Limited (Alien Mkt)
$41,915,220
Bangkok Dusit Medical Services Public Co. Ltd.(Alien Mkt)
$44,137,447
Airports of Thailand Public Co. Ltd.(Alien Mkt)
$14,272,531
Advanced Info Service Public Co., Ltd.(Alien Mkt)
$44,425,012
9,815,953
71,427,400
1,492,841
10,558,200
$119,048,211
4
Thailand Total Market Value:
$352,409,743
United Kingdom
Shares
13.54%
Market Value
Security Name
10,292,921
British American Tobacco p.l.c.
$581,129,068
2,600,364
British American Tobacco p.l.c.
$144,560,531
6,576,740
SABMiller PLC
$399,120,726
1,059,539
Randgold Resources Limited
$64,712,911
1,167,995
Randgold Resources Limited Sponsored ADR
$72,333,930
United Kingdom Total Market Value:
Total Invested Assets:
$1,261,857,167
$9,320,584,242
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 N-Q. The most recent annual/semiannual report can be viewed at www.virtus.com.
Forms N-Q 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 N-Q.
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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