Summary

• The Virtus KAR Mid-Cap Growth Fund returned -13.54% (Class I) in the quarter, underperforming the Russell Midcap® Growth Index, which returned -6.35%.
• Stock selection and an underweight position in the industrials sector, combined with an underweight position in the energy sector, detracted from performance.
• Stock selection in the information technology sector, combined with an underweight in the utilities sector, contributed positively to performance.

Market Summary

During the first quarter of 2026, market leadership shifted as small-cap stocks outperformed large caps amid a rotation away from crowded trades by investors. The Russell 2000® small-cap benchmark surpassed the broader market, as measured by the

89 Followers