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        <name>URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS</name>
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        <name>UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO</name>
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        <name>Chamberlain Group</name>
        <lei>25490092IFNOZBRVE539</lei>
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        <cusip>15963CAE6</cusip>
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          <isin value="US15963CAE66"/>
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      <invstOrSec>
        <name>OMAN, GOVERNMENT OF THE SULTANATE OF</name>
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          <couponKind>Fixed</couponKind>
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        <name>BAHRAIN, KINGDOM OF - MINISTRY OF FINANCE &amp; NATIONAL ECONOMY</name>
        <lei>549300RODM1WN85LFQ95</lei>
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        <cusip>05675M2J2</cusip>
        <identifiers>
          <isin value="US05675M2J23"/>
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        <curCd>USD</curCd>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>NIPPON LIFE INSURANCE COMPANY</name>
        <lei>549300Y0HHMFW3EVWY08</lei>
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        <curCd>USD</curCd>
        <valUSD>265432.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <maturityDt>2053-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>UNIVERSAL HEALTH SERVICES INC</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>UHS 6 09/01/36</title>
        <cusip>913903BE9</cusip>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLEVELAND-CLIFFS INC</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 7.625 01/15/34 144A</title>
        <cusip>18589GAA3</cusip>
        <identifiers>
          <isin value="US18589GAA31"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HERC HOLDINGS INC</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HRI 7.25 06/15/33 144A</title>
        <cusip>42704LAG9</cusip>
        <identifiers>
          <isin value="US42704LAG95"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62048.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>VOLTAGRID LLC</name>
        <lei>254900R5BEUGIKK1FM03</lei>
        <title>VOLTAG 7.375 11/01/30 144A</title>
        <cusip>92874BAA3</cusip>
        <identifiers>
          <isin value="US92874BAA35"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140893.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PR RNO PROPERTY OWNER 1 LLC</name>
        <lei>N/A</lei>
        <title>TRACTD 6.5 05/01/31 144A</title>
        <cusip>69393LAA1</cusip>
        <identifiers>
          <isin value="US69393LAA17"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83427.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>AVILEASE CAPITAL LTD</name>
        <lei>635400SXOPVAVBWNE366</lei>
        <title>AVILES 5.5 06/30/31 144A</title>
        <cusip>05369MAA3</cusip>
        <identifiers>
          <isin value="US05369MAA36"/>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
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        <name>QXO</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO Term Loan B 200 2033-05-30</title>
        <cusip>07368RAN1</cusip>
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          <isin value="US07368RAN17"/>
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          <couponKind>Floating</couponKind>
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        <name>SM ENERGY COMPANY</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <cusip>78454LAZ3</cusip>
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        <name>KAZAKHSTAN, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <name>POST HOLDINGS INC</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST 6.25 02/15/32 144A</title>
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        <name>BroadStreet Partners</name>
        <lei>549300BS9N54G8DD0R75</lei>
        <title>BroadStreet Partners Term Loan B-4 300 2031-06-01</title>
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        <name>DRAWBRIDGE SPECIAL OPPORTUNITIES FUND LP / DRAWBRIDGE SPECIAL OPPORTUNITIES FINANCE CORP</name>
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        <title>DRAWBR 5.95 09/17/30 144A</title>
        <cusip>26150TAF6</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <name>ASCOT GROUP LTD</name>
        <lei>213800DJV7WRJBE2II28</lei>
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        <name>KEYSPAN GAS EAST CORP</name>
        <lei>K8TS3HOE1568DUBUJL44</lei>
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      <invstOrSec>
        <name>TOWD POINT MORTGAGE TRUST 2016-4</name>
        <lei>N/A</lei>
        <title>TPMT 2016-4 B1</title>
        <cusip>89172UAE8</cusip>
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          <isin value="US89172UAE82"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>463369.01000000</valUSD>
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          <maturityDt>2056-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Convergint Technologies</name>
        <lei>549300AE79DEGS4AGL59</lei>
        <title>Convergint Technologies Term Loan B 300 2032-07-01</title>
        <cusip>23344MAM0</cusip>
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          <isin value="US23344MAM01"/>
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        <balance>127863.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128183.54000000</valUSD>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.83000000</annualizedRt>
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      <invstOrSec>
        <name>ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE CORP</name>
        <lei>N/A</lei>
        <title>IEP 10 11/15/29 144A</title>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2029-11-15</maturityDt>
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        <name>Birdsboro Power</name>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50219.00000000</valUSD>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>ALLIANCE RESOURCE OPERATING PARTNERS LP / ALLIANCE RESOURCE FINANCE CORP</name>
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        <title>ARLP 8.625 06/15/29 144A</title>
        <cusip>01879NAC9</cusip>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197843.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Gainwell Technologies (fka Milano Acqusition/DXC State &amp; Local HHS)</name>
        <lei>N/A</lei>
        <title>Gainwell Technologies (fka Milano Acqusition/DXC State &amp; Local HHS) Term Loan B 450 2031-08-06</title>
        <cusip>59909TAE4</cusip>
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          <isin value="US59909TAE47"/>
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        <assetCat>LON</assetCat>
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          <maturityDt>2031-08-06</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>TAYLOR MORRISON COMMUNITIES INC</name>
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        <title>TMHC 5.75 11/15/32 144A</title>
        <cusip>87724RAK8</cusip>
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        <name>ONTARIO GAMING GTA LP / OTG CO-ISSUER INC</name>
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        <title>ONGAME 8 08/01/30 144A</title>
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        <name>BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH</name>
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        <title>BANORT V6.625 PERP 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
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          <maturityDt>N/A</maturityDt>
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        <name>MMP CAPITAL 2025-A LLC</name>
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        <balance>365000.00000000</balance>
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        <name>Protective Industrial Products</name>
        <lei>54930015O0Y94T5H8Z18</lei>
        <title>Protective Industrial Products Term Loan B 375 2032-05-01</title>
        <cusip>37987UAK8</cusip>
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          <couponKind>Floating</couponKind>
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        <name>LAD AUTO RECEIVABLES TRUST 2023-2</name>
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        <title>LADAR 2023-2A D</title>
        <cusip>505713AF4</cusip>
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          <isin value="US505713AF41"/>
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        <balance>450000.00000000</balance>
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          <couponKind>Fixed</couponKind>
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        <name>Agiliti (Universal Hospital Services)</name>
        <lei>25490002CCQ55NKGNB14</lei>
        <title>Agiliti (Universal Hospital Services) Term Loan B 300 2030-04-22</title>
        <cusip>00847YAE2</cusip>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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          <annualizedRt>8.08000000</annualizedRt>
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      <invstOrSec>
        <name>SUMITOMO LIFE INSURANCE COMPANY</name>
        <lei>549300I5OQCDADQSPI57</lei>
        <title>SUMILF V5.875 09/10/55 144A</title>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-09-10</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
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      <invstOrSec>
        <name>SAUDI ARABIA, KINGDOM OF</name>
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        <identifiers>
          <isin value="US80413TBD00"/>
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        <curCd>USD</curCd>
        <valUSD>189174.74000000</valUSD>
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        <name>VFI ABS 2025-1 LLC</name>
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          <isin value="US91824UAC09"/>
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        <curCd>USD</curCd>
        <valUSD>298238.25000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2031-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-10-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Virtus Total Return Fund Inc.</ncom:nameOfApplicant>
      <ncom:signature>Amy Hackett</ncom:signature>
      <ncom:signerName>Amy Hackett</ncom:signerName>
      <ncom:title>Vice President and Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
