Investment objective & strategy
As of April 21, 2025 · prospectusObjective. The Series has investment objectives of capital appreciation and income with approximately equal emphasis.
Strategy. The Series offers exposure to the equity real estate investment trust (REIT) market utilizing a quality and relative value style with a fundamental security analysis approach designed to identify the most attractive investment candidates. The subadviser believes the value of a REIT extends beyond the value of the underlying real estate and that through fundamental research, it can uncover and exploit inefficiencies in the market. Under normal circumstances, the Series invests at least 80% of its assets in publicly-traded REITs and companies that are principally engaged in the real estate industry. Generally, REITs are publicly-traded companies that manage portfolios of real estate to earn profits for shareholders through investments in commercial and residential real estate. Equity REITs own real estate … The Series offers exposure to the equity real estate investment trust (REIT) market utilizing a quality and relative value style with a fundamental security analysis approach designed to identify the most attractive investment candidates. The subadviser believes the value of a REIT extends beyond the value of the underlying real estate and that through fundamental research, it can uncover and exploit inefficiencies in the market. Under normal circumstances, the Series invests at least 80% of its assets in publicly-traded REITs and companies that are principally engaged in the real estate industry. Generally, REITs are publicly-traded companies that manage portfolios of real estate to earn profits for shareholders through investments in commercial and residential real estate. Equity REITs own real estate directly. The Series may invest in issuers of any capitalization. As of December 31, 2024, the total market capitalization range of the issuers in which the Series was invested was $4.1 billion to $97.9 billion. The Series concentrates its assets in the real estate industry.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| WELLTOWER INC | — | $10.99M | 10.46% |
| PROLOGIS INC REIT | — | $10.49M | 9.98% |
| EQUINIX INC | — | $9.21M | 8.76% |
| DIGITAL REALTY TRUST INC | — | $5.92M | 5.63% |
| VENTAS INC REIT | — | $4.99M | 4.75% |
| SIMON PROPERTY | — | $4.66M | 4.43% |
| IRON MOUNTAIN INC | — | $4.50M | 4.28% |
| PUBLIC STORAGE | — | $3.79M | 3.61% |
| FIRST INDUSTRIAL REALTY TRUST | — | $3.51M | 3.34% |
| BRIXMOR PROPERTY | — | $3.28M | 3.12% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Virtus Duff & Phelps Real Estate Securities Fund · PHRAX, PHRCX, PHRIX, VRREX | 98% | 0.79% |
| Venerable Real Estate Fund | 69% | 0.95% |
| Virtus Duff & Phelps Global Real Estate Securities Fund · VGSAX, VGSCX, VGISX, VRGEX | 67% | 0.87% |
Advisers
| Firm | Role |
|---|---|
| Virtus Investment Advisers, LLC | Adviser |
| Duff & Phelps Investment Management Co. | Sub-adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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