Schedule of Investments
Virtus AllianzGI Convertible & Income 2024 Target Term Fund May 31, 2021 (unaudited)
Principal | ||||
Amount | ||||
(000s) | Value | |||
CONVERTIBLE BONDS & NOTES-58.6% | ||||
Auto Manufacturers-4.7% | ||||
NIO, Inc. (a)(c) | ||||
zero coupon, 2/1/26 | $4,000 | $ 3,464,000 | ||
0.50%, 2/1/27 | 6,500 | 5,469,750 | ||
8,933,750 | ||||
Biotechnology-8.5% | ||||
Illumina, Inc., | ||||
zero coupon, 8/15/23 (g)(i) | 2,105 | 2,518,106 | ||
Insmed, Inc., | ||||
1.75%, 1/15/25 (g)(i) | 5,500 | 5,517,050 | ||
Ionis Pharmaceuticals, Inc., | ||||
0.125%, 12/15/24 (g) | 6,000 | 5,461,070 | ||
Ligand Pharmaceuticals, Inc., | ||||
0.75%, 5/15/23 (g) | 3,000 | 2,914,749 | ||
16,410,975 | ||||
Building Materials-2.4% | ||||
Patrick Industries, Inc., | ||||
1.00%, 2/1/23 (g) | 4,000 | 4,697,500 | ||
Computers-1.1% | ||||
CyberArk Software Ltd., | ||||
zero coupon, 11/15/24 (g) | 2,000 | 2,128,800 | ||
Entertainment-1.8% | ||||
Live Nation Entertainment, Inc., | ||||
2.00%, 2/15/25 (g)(i) | 3,000 | 3,445,500 | ||
Equity Real Estate Investment Trusts (REITs)-6.1% | ||||
Blackstone Mortgage Trust, Inc., | ||||
4.375%, 5/5/22 | 2,000 | 2,042,600 | ||
Redwood Trust, Inc., | ||||
5.625%, 7/15/24 | 5,000 | 5,037,500 | ||
Two Harbors Investment Corp., | ||||
6.25%, 1/15/22 (g) | 4,495 | 4,562,425 | ||
11,642,525 | ||||
Household Products-2.2% | ||||
NuVasive, Inc., | ||||
1.00%, 6/1/23 (a)(c)(g) | 4,000 | 4,170,000 | ||
Internet-4.8% | ||||
21Vianet Group, Inc., | ||||
zero coupon, 2/1/26 (a)(c) | 7,000 | 5,932,500 | ||
Boingo Wireless, Inc., | ||||
1.00%, 10/1/23 (g) | 3,350 | 3,324,875 | ||
9,257,375 | ||||
Leisure-1.2% | ||||
Royal Caribbean Cruises Ltd., | ||||
2.875%, 11/15/23 (a)(c)(g) | 1,700 | 2,251,650 | ||
Media-3.9%
DISH Network Corp.,
Principal | |||||
Amount | |||||
(000s) | Value | ||||
Oil States International, Inc., | |||||
1.50%, 2/15/23 (g) | $1,500 | $ 1,379,558 | |||
4,772,370 | |||||
Pharmaceuticals-3.7% | |||||
Flexion Therapeutics, Inc., | |||||
3.375%, 5/1/24 (g) | 3,000 | 2,682,258 | |||
Jazz Investments I Ltd., | |||||
1.50%, 8/15/24 (g)(i) | 4,000 | 4,417,627 | |||
7,099,885 | |||||
Software-15.5% | |||||
Alteryx, Inc., | |||||
0.50%, 8/1/24 | 4,000 | 3,777,600 | |||
Benefitfocus, Inc., | |||||
1.25%, 12/15/23 (i) | 3,000 | 2,827,170 | |||
DocuSign, Inc., | |||||
zero coupon, 1/15/24 (a)(c)(g) | 4,000 | 3,868,000 | |||
i3 Verticals LLC, | |||||
1.00%, 2/15/25 (g) | 5,000 | 5,143,750 | |||
New Relic, Inc., | |||||
0.50%, 5/1/23 (g) | 4,000 | 3,925,200 | |||
Nutanix, Inc., | |||||
zero coupon, 1/15/23 (g) | 2,835 | 2,849,175 | |||
Pegasystems, Inc., | |||||
0.75%, 3/1/25 (g) | 2,000 | 2,210,000 | |||
PROS Holdings, Inc., | |||||
1.00%, 5/15/24 | 4,000 | 4,070,000 | |||
RingCentral, Inc., | |||||
zero coupon, 3/1/25 (g) | 1,055 | 1,104,453 | |||
29,775,348 | |||||
Telecommunications-0.2% | |||||
Infinera Corp., | |||||
2.125%, 9/1/24 (g) | 395 | 468,796 | |||
Total Convertible Bonds & Notes | |||||
(Cost-$110,804,360) | 112,516,650 | ||||
CORPORATE BONDS & NOTES-43.5% | |||||
Aerospace & Defense-1.2% | |||||
Triumph Group, Inc. (a)(c), | |||||
6.25%, 9/15/24 | 350 | 356,178 | |||
8.875%, 6/1/24 | 1,796 | 1,991,315 | |||
2,347,493 | |||||
Auto Manufacturers-2.0% | |||||
Ford Motor Co., | |||||
8.50%, 4/21/23 (g) | 3,500 | 3,906,875 | |||
Building Materials-1.9% | |||||
Koppers, Inc., | |||||
6.00%, 2/15/25 (a)(c) | 3,500 | 3,585,400 |
Commercial Services-1.3%
RR Donnelley & Sons Co.,
2.375%, 3/15/24 (g) | 5,000 | 4,837,500 | |
Liberty Broadband Corp., | |||
2.75%, 9/30/50 (a)(c)(g) | 2,500 | 2,624,676 | |
7,462,176 | |||
Oil, Gas & Consumable Fuels-2.5% | |||
Helix Energy Solutions Group, Inc., | |||
4.25%, 5/1/22 (g) | 3,500 | 3,392,812 |
7.00%, 2/15/22 | 2,500 | 2,581,250 | |
Computers-0.8% | |||
Dell International LLC, | |||
7.125%, 6/15/24 (a)(c)(g) | 1,500 | 1,530,000 | |
Diversified Financial Services-3.5% | |||
Navient Corp., | |||
7.25%, 9/25/23 | 3,000 | 3,288,750 |
Schedule of Investments
Virtus AllianzGI Convertible & Income 2024 Target Term Fund May 31, 2021 (unaudited) (continued)
Principal | ||||
Amount | ||||
(000s) | Value | |||
OneMain Finance Corp., | ||||
8.25%, 10/1/23 (g) | $3,000 | $ 3,390,000 | ||
6,678,750 | ||||
Entertainment-1.6% | ||||
Cedar Fair L.P., | ||||
5.375%, 6/1/24 (i) | 3,000 | 3,030,000 | ||
Equity Real Estate Investment Trusts (REITs)-1.1% | ||||
Service Properties Trust, | ||||
4.35%, 10/1/24 (g) | 2,170 | 2,131,472 | ||
Food & Beverage-1.6% | ||||
Albertsons Cos., Inc., | ||||
3.50%, 2/15/23 (a)(c)(i) | 3,000 | 3,074,880 | ||
Healthcare-Services-3.3% | ||||
HCA, Inc., | ||||
5.375%, 2/1/25 (g) | 3,000 | 3,356,250 | ||
Tenet Healthcare Corp., | ||||
4.625%, 7/15/24 | 3,000 | 3,043,200 | ||
6,399,450 | ||||
Leisure-3.6% | ||||
Carnival Corp., | ||||
11.50%, 4/1/23 (a)(c)(g) | 3,000 | 3,432,570 | ||
Royal Caribbean Cruises Ltd., | ||||
10.875%, 6/1/23 (a)(c)(g) | 3,000 | 3,442,500 | ||
6,875,070 | ||||
Lodging-1.9% | ||||
Wynn Las Vegas LLC, | ||||
5.50%, 3/1/25 (a)(c) | 3,500 | 3,731,875 | ||
Media-7.6% | ||||
CCO Holdings LLC, | ||||
4.00%, 3/1/23 (a)(c) | 3,000 | 3,022,500 | ||
Clear Channel Worldwide Holdings, | ||||
Inc., | ||||
9.25%, 2/15/24 | 724 | 759,838 | ||
CSC Holdings LLC, | ||||
5.25%, 6/1/24 | 3,000 | 3,251,250 | ||
DISH DBS Corp., | ||||
5.875%, 11/15/24 | 3,285 | 3,496,685 | ||
6.75%, 6/1/21 | 1,000 | 1,000,000 | ||
Sirius XM Radio, Inc., | ||||
4.625%, 7/15/24 (a)(c)(g) | 3,000 | 3,075,000 | ||
14,605,273 | ||||
Oil, Gas & Consumable Fuels-3.9% | ||||
Antero Resources Corp., | ||||
5.00%, 3/1/25 (i) | 3,000 | 3,072,300 | ||
Occidental Petroleum Corp., | ||||
6.95%, 7/1/24 (g) | 4,000 | 4,440,000 | ||
7,512,300 | ||||
Telecommunications-6.7% |
Principal | |||||
Amount | |||||
(000s) | Value | ||||
Transportation-1.5% | |||||
XPO Logistics, Inc., | |||||
6.125%, 9/1/23 (a)(c)(g) | $2,750 | $ 2,780,937 | |||
Total Corporate Bonds & Notes | |||||
(Cost-$81,698,594) | 83,595,125 | ||||
SENIOR LOANS (a)(b)-29.6% | |||||
Aerospace & Defense-0.7% | |||||
TransDigm, Inc., (1 mo. LIBOR + | |||||
2.250%), 2.343%, 12/9/25, 2020 Term | |||||
Loan F | 1,463 | 1,442,267 | |||
Airlines-1.5% | |||||
Allegiant Travel Company, (3 mo. | |||||
LIBOR + 3.000%), 3.156%, 2/5/24, | |||||
2020 Term Loan | 1,474 | 1,463,970 | |||
American Airlines, Inc., (1 mo. LIBOR + | |||||
2.000%), 2.093%, 4/28/23, Repriced | |||||
TL B due 2023 | 990 | 956,808 | |||
SkyMiles IP Ltd., (3 mo. LIBOR + | |||||
3.750%), 4.750%, 10/20/27, 2020 | |||||
Skymiles Term Loan B | 500 | 523,695 | |||
2,944,473 | |||||
Auto Components-0.5% | |||||
Tenneco, Inc., (1 mo. LIBOR + 3.000%), | |||||
3.093%, 10/1/25, 2018 Term Loan B | 997 | 980,991 | |||
Chemicals-0.3% | |||||
PQ Corp., (3 mo. LIBOR + 2.250%), | |||||
2.436%, 2/7/27, 2018 Term Loan B | 506 | 505,173 | |||
Commercial Services-0.5% | |||||
Allied Universal Holdco LLC, (3 mo. | |||||
LIBOR + 3.750%), 4.250%, 5/12/28, | |||||
2021 USD Incremental Term Loan B | 1,000 | 1,002,130 | |||
Communications Equipment-0.8% | |||||
CommScope, Inc., (1 mo. LIBOR + | |||||
3.250%), 3.343%, 4/6/26, 2019 Term | |||||
Loan B | 1,481 | 1,474,108 | |||
Computers-0.9% | |||||
Cardtronics USA, Inc., (1 mo. LIBOR + | |||||
4.000%), 5.000%, 6/29/27, Term | |||||
Loan B | 993 | 991,756 | |||
Dell International LLC, (1 mo. LIBOR + | |||||
1.750%), 2.000%, 9/19/25, 2021 Term | |||||
Loan B | 662 | 661,591 | |||
1,653,347 | |||||
Construction & Engineering-0.5% | |||||
KBR, Inc., (1 mo. LIBOR + 2.750%), | |||||
2.843%, 2/5/27, 2020 Term Loan B | 1,016 | 1,016,896 |
Cincinnati Bell, Inc., | |||
7.00%, 7/15/24 (a)(c) | 4,000 | 4,120,000 | |
Hughes Satellite Systems Corp., | |||
7.625%, 6/15/21 (i) | 3,000 | 3,006,600 | |
Lumen Technologies, Inc., | |||
7.50%, 4/1/24, Ser. Y | 2,000 | 2,240,000 | |
Sprint Corp., | |||
7.125%, 6/15/24 | 3,000 | 3,457,500 | |
12,824,100 |
Diversified Telecommunication Services-0.5% | |||
CenturyLink, Inc., (1 mo. LIBOR + | |||
2.250%), 2.343%, 3/15/27, 2020 Term | |||
Loan B | 988 | 978,000 | |
Entertainment-1.5% | |||
AMC Entertainment Holdings, Inc., (1 | |||
mo. LIBOR + 3.000%), 3.107%, | |||
4/22/26, 2019 Term Loan B | 980 | 900,885 | |
Music Technology Holdings, LLC, (3 mo. | |||
PIK + 8.000%), 8.000%, 12/16/22, | |||
Fixed PIK Term Loan (f) | 333 | 332,605 | |
Stars Group Holdings B.V. (The), (3 mo. | |||
LIBOR + 3.500%), 7/10/25, 2018 USD | |||
Incremental Term Loan (d) | 1,640 | 1,645,595 | |
2,879,085 |
Schedule of Investments
Virtus AllianzGI Convertible & Income 2024 Target Term Fund May 31, 2021 (unaudited) (continued)
Principal | ||||
Amount | ||||
(000s) | Value | |||
Food & Staples Retailing-0.5% | ||||
US Foods, Inc., (1 mo. LIBOR + | ||||
1.750%), 1.843%, 6/27/23, 2016 | ||||
Term Loan B | $ 893 | $ 884,801 | ||
Healthcare-Products-0.9% | ||||
Avantor Funding, Inc., 11/21/2024, | ||||
USD Term Loan B3 3.000%, (1 mo. | ||||
LIBOR + 2.000%), 11/21/24, USD | ||||
Term Loan B3 | 879 | 877,952 | ||
3.250%, (1 mo. LIBOR + 2.250%), | ||||
11/8/27, 2020 Incremental Term | ||||
Loan B4 | 284 | 284,998 | ||
Ortho-Clinical Diagnostics S.A., (1 mo. | ||||
LIBOR + 3.000%), 3.108%, 6/30/25, | ||||
2018 Term Loan B | 556 | 556,053 | ||
1,719,003 | ||||
Holding Companies-Diversified-0.5% | ||||
Travelport Finance (Luxembourg) | ||||
S.a.r.l., (3 mo. LIBOR + 5.000%), | ||||
5.203%, 5/29/26, 2019 Term Loan | 985 | 872,956 | ||
Hotels, Restaurants & Leisure-1.0% | ||||
Playa Resorts Holding B.V., (1 mo. | ||||
LIBOR + 2.750%), 3.750%, 4/29/24, | ||||
2017 Term Loan B | 963 | 921,096 | ||
Scientific Games International, Inc., (1 | ||||
mo. LIBOR + 2.750%), 2.843%, | ||||
8/14/24, 2018 Term Loan B5 | 968 | 957,493 | ||
1,878,589 | ||||
Internet-1.1% | ||||
Everi Payments, Inc., (1 mo. LIBOR + | ||||
2.750%), 3.500%, 5/9/24, Term | ||||
Loan B | 896 | 891,198 | ||
Go Daddy Operating Company, LLC, | ||||
(1 mo. LIBOR + 1.750%), 1.843%, | ||||
2/15/24, 2017 Repriced Term Loan | 1,217 | 1,209,808 | ||
2,101,006 | ||||
Internet Software & Services-0.9% | ||||
Blucora, Inc., (3 mo. LIBOR + | ||||
4.000%), 5.000%, 5/22/24, 2017 | ||||
Term Loan B | 743 | 744,895 | ||
Match Group, Inc., (3 mo. LIBOR + | ||||
1.750%), 1.906%, 2/13/27, 2020 | ||||
Term Loan B | 1,000 | 990,000 | ||
1,734,895 | ||||
IT Services-0.5% | ||||
WEX, Inc., (1 mo. LIBOR + 2.250%), | ||||
2.343%, 3/31/28, 2021 Term Loan | 1,000 | 995,250 | ||
Leisure Equipment & Products-0.5%
Principal | |||||
Amount | |||||
(000s) | Value | ||||
Navistar International Corp., (1 mo. | |||||
LIBOR + 3.500%), 3.600%, 11/6/24, | |||||
2017 1st Lien Term Loan B | $1,462 | $ 1,461,602 | |||
3,056,145 | |||||
Media-5.5% | |||||
CSC Holdings, LLC, (1 mo. LIBOR + | |||||
2.250%), 2.348%, 1/15/26, 2018 | |||||
Incremental Term Loan | 1,234 | 1,219,715 | |||
Gray Television, Inc., (1 mo. LIBOR + | |||||
2.250%), 2.360%, 2/7/24, 2017 Term | |||||
Loan B | 1,432 | 1,424,836 | |||
Lions Gate Capital Holdings LLC, (1 mo. | |||||
LIBOR + 2.250%), 2.343%, 3/24/25, | |||||
2018 Term Loan B | 1,228 | 1,220,539 | |||
Meredith Corp., (1 mo. LIBOR + | |||||
2.500%), 2.593%, 1/31/25, 2020 Term | |||||
Loan B2 | 1,247 | 1,241,678 | |||
Nexstar Broadcasting, Inc., (1 mo. | |||||
LIBOR + 2.500%), 2.610%, 9/18/26, | |||||
2019 Term Loan B4 | 1,312 | 1,307,248 | |||
Sinclair Television Group, Inc., (1 mo. | |||||
LIBOR + 3.000%), 3.100%, 4/1/28, | |||||
2021 Term Loan B3 | 1,250 | 1,243,535 | |||
Virgin Media Bristol LLC, (1 mo. LIBOR | |||||
+ 2.500%), 2.601%, 1/31/28, USD | |||||
Term Loan N | 1,500 | 1,490,625 | |||
WideOpenWest Finance LLC, (1 mo. | |||||
LIBOR + 3.250%), 4.250%, 8/18/23, | |||||
2017 Term Loan B | 1,465 | 1,460,031 | |||
10,608,207 | |||||
Metal Fabricate/Hardware-0.3% | |||||
Advanced Drainage Systems, Inc., (1 mo. | |||||
LIBOR + 2.250%), 2.375%, 7/31/26, | |||||
Term Loan B | 628 | 629,037 | |||
Oil, Gas & Consumable Fuels-0.0% | |||||
Lealand Finance Company B.V., 6/30/25, | |||||
2020 Take Back Term Loan | |||||
1.093%, (1 mo. PIK + 3.000%) | 83 | 36,193 | |||
3.000%, (1 mo. LIBOR + 1.000%) | 83 | 36,194 | |||
72,387 | |||||
Pharmaceuticals-2.0% | |||||
Bausch Health Companies, Inc., (1 mo. | |||||
LIBOR + 3.000%), 3.093%, 6/2/25, | |||||
2018 Term Loan B | 852 | 848,680 | |||
HLF Financing S.a r.l., (1 mo. LIBOR + | |||||
2.500%), 2.593%, 8/18/25, 2018 Term | |||||
Loan B | 975 | 968,906 | |||
Horizon Therapeutics USA, Inc., (1 mo. | |||||
LIBOR + 2.000%), 2.500%, 3/15/28, | |||||
2021 Term Loan B | 1,000 | 997,860 |
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Virtus AllianzGi Convertible & Income 2024 Target Term Fund published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 18:58:06 UTC.