EDF - Virtus Stone Harbor Emerging Markets Income Fund

What this means for you

One large investor owns more than 5% of this fund but has told the regulator it is not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. July 14, 2026

   First Trust Portfolios L.P. raised its stake to 15.2% (from 12.5%), as a passive investor.

   Original document →

2. March 6, 2026

   First Trust Portfolios L.P. cut its stake to 12.5% (from 18.1%), as a passive investor.

   Original document →

3. Jan 14, 2026

   First Trust Portfolios L.P. cut its stake to 18.1% (from 20.9%), as a passive investor.

   Original document →

4. July 21, 2025

   First Trust Portfolios L.P. raised its stake to 20.9% (from 19.2%), as a passive investor.

   Original document →

5. April 16, 2025

   First Trust Portfolios L.P. now owns 19.2%, as a passive investor.

   Original document →

About this fund

• Run by Virtus Investment Advisers, LLC. Part of the Virtus fund family. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Size: about $164 million of holdings, as of Aug 31, 2026. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 24% on top of its own money, as of Aug 31, 2026. Borrowed money makes gains and losses bigger. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.3% a year in management fees; 3.1% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
  Among the 90 funds we follow that invest in bonds, 60 charge a lower management fee and 42 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $0.96 a share. $0.49 of that was income; $0.47 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Nov 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Nov 30, 2025): $4.93. The shares traded at $4.92, about 0.2% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 1.8% over the last three months we have (June-Aug 2026), before the share price is taken into account. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2010.

How this has changed

• Payouts per share: $0.96 in the fiscal year ended Nov 30, 2025; $0.96 in the year ended Nov 30, 2024; $0.96 in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.47 in the year ended Nov 30, 2025; $0.51 in the year ended Nov 30, 2024; $0.55 in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 3.98% a year in the fiscal year ended Nov 30, 2025; 4.48% a year in the year ended Nov 30, 2024; 4.46% a year in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $158 million at Nov 28, 2025; $139 million at Nov 29, 2024; $73.9 million at Nov 30, 2023. From the fund's quarterly holdings reports. Original documents: Nov 28, 2025 →, Nov 29, 2024 →, Nov 30, 2023 →.
• Borrowing: about 20% on top of its own money at Nov 28, 2025; 30% at Nov 29, 2024; none at Nov 30, 2023. From the fund's quarterly holdings reports. Original documents: Nov 28, 2025 →, Nov 29, 2024 →, Nov 30, 2023 →.

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Nov 30, 2025: the shares returned +10%, counting payouts; the holdings +10%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Nov 30, 2025, from the fund's annual report. Original document →
• The year ended Nov 30, 2024: the shares returned +24.1%, counting payouts; the holdings +13.9%. As of Nov 30, 2024, from the fund's annual report. Original document →
• The year ended Nov 30, 2023: the shares returned +2.7%, counting payouts; the holdings +7.2%. As of Nov 30, 2023, from the fund's annual report. Original document →
• The year ended Nov 30, 2022: the shares returned -21.8%, counting payouts; the holdings -14.7%. As of Nov 30, 2022, from the fund's annual report. Original document →
• The year ended Nov 30, 2021: the shares returned +8.2%, counting payouts; the holdings +1.8%. As of Nov 30, 2021, from the fund's annual report. Original document →
• Those five years together: the shares returned +18.6%. $10,000 of shares bought at the start (Dec 1, 2020) would have become about $11,900 by Nov 30, 2025, with every payout counted, before tax. As of Nov 30, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to Aug 31, 2026: +18.9%. The quarterly reports carry no share price, so this is the holdings alone. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 61 funds that invest in bonds with a fiscal year ending within six months of this one, 22 reported a higher share return for that year and 38 a lower one. As of Nov 30, 2025, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

All bonds (100%). About 2% issued in the U.S.

6.1% of holdings are in default.

1. Argentina, Republic of - Subsecretaria de Financiamiento - 15.2%
2. Petroleos Mexicanos SA de CV - 8.7%
3. Poinsettia Finance Ltd Sarl, Pnstta 6.625 06/17/31 Regs - 8.5%
4. United Mexican States - Secretaria de Hacienda Y Credito Publico - 4.9%
5. Angola, Republic of - Ministry of Finance - 4.8%
6. Ecuador, Republica del - Ministerio de Finanzas Y Credito Publico - 4.8%
7. Buenos Aires, Province of, Buenos 6.625 09/01/37 Regs - 4.3%
8. Eldik Bank Ojsc, Eldikb 8.5 04/23/31 144A - 3%
9. Petroleos de Venezuela SA, Pdvsa 9 11/17/21 Regs - 2.7%
10. Gabon, Republic of - Ministry of Public Accounts and Debt, Gabon 9.5 02/18/29 4Y - 2.4%

As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →