TCW Artificial Intelligence Equity Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK93.7% of Net Assets |
| |||||||
Agricultural & Farm Machinery1.7% |
| |||||||
Deere & Co. | 832 | $ | 300,843 | |||||
|
| |||||||
Apparel, Accessories & Luxury Goods1.7% |
| |||||||
Lululemon Athletica, Inc.(1) | 754 | 301,728 | ||||||
|
| |||||||
Application Software10.0% |
| |||||||
Adobe, Inc.(1) | 864 | 537,088 | ||||||
Autodesk, Inc.(1) | 1,215 | 390,173 | ||||||
Bill.Com Holdings, Inc.(1) | 919 | 190,067 | ||||||
Salesforce.com, Inc.(1) | 1,320 | 319,348 | ||||||
Trade Desk, Inc. (The)(1) | 4,480 | 366,957 | ||||||
|
| |||||||
1,803,633 | ||||||||
|
| |||||||
Automobile Manufacturers1.4% |
| |||||||
Tesla Inc.(1) | 369 | 253,577 | ||||||
|
| |||||||
Biotechnology0.6% |
| |||||||
SpringWorks Therapeutics, Inc.(1) | 1,300 | 111,410 | ||||||
|
| |||||||
Cable & Satellite1.9% |
| |||||||
Comcast Corp. | 5,679 | 334,095 | ||||||
|
| |||||||
Communications Equipment10.3% |
| |||||||
Arista Networks, Inc.(1) | 957 | 364,033 | ||||||
Cisco Systems, Inc. | 8,048 | 445,618 | ||||||
Motorola Solutions, Inc. | 2,988 | 669,073 | ||||||
Palo Alto Networks, Inc.(1) | 914 | 364,732 | ||||||
|
| |||||||
1,843,456 | ||||||||
|
| |||||||
Data Processing & Outsourced Services7.1% |
| |||||||
Fiserv, Inc.(1) | 1,629 | 187,514 | ||||||
Mastercard, Inc. | 941 | 363,170 | ||||||
PayPal Holdings, Inc.(1) | 1,282 | 353,230 | ||||||
Square, Inc.(1) | 1,467 | 362,730 | ||||||
|
| |||||||
1,266,644 | ||||||||
|
| |||||||
Electronic Equipment & Instruments2.0% |
| |||||||
Trimble, Inc.(1) | 4,275 | 365,512 | ||||||
|
| |||||||
Health Care Equipment0.4% |
| |||||||
STAAR Surgical Co.(1) | 628 | 80,334 | ||||||
|
| |||||||
Home Entertainment Software2.0% |
| |||||||
Roku, Inc.(1) | 854 | 365,777 | ||||||
|
| |||||||
Interactive Home Entertainment2.8% |
| |||||||
Sea, Ltd. (ADR) (Singapore)(1) | 1,833 | 506,201 | ||||||
|
| |||||||
Interactive Media & Services1.5% |
| |||||||
Snap, Inc.(1) | 2,980 | 221,772 | ||||||
Vimeo, Inc.(1) | 1,094 | 49,011 | ||||||
|
| |||||||
270,783 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail2.8% |
| |||||||
Amazon.com, Inc.(1) | 149 | 495,811 | ||||||
|
| |||||||
Internet Services & Infrastructure13.4% |
| |||||||
Alibaba Group Holding, Ltd. (SP ADR) (China)(1) | 731 | 142,684 | ||||||
Alphabet, Inc.(1) | 329 | 886,500 | ||||||
Facebook, Inc.(1) | 1,551 | 552,621 | ||||||
Okta, Inc.(1) | 831 | 205,914 | ||||||
Snowflake, Inc.(1) | 990 | 263,063 | ||||||
Twilio, Inc.(1) | 583 | 217,803 | ||||||
ZoomInfo Technologies, Inc.(1) | 2,523 | 135,611 | ||||||
|
| |||||||
2,404,196 | ||||||||
|
| |||||||
IT Consulting & Other Services2.4% |
| |||||||
EPAM Systems, Inc.(1) | 775 | 433,845 | ||||||
|
| |||||||
Life Sciences Tools & Services1.0% |
| |||||||
NeoGenomics, Inc.(1) | 3,942 | 181,726 | ||||||
|
| |||||||
Oil & Gas Equipment & Services3.4% |
| |||||||
Baker Hughes Co. | 14,015 | 297,678 | ||||||
Schlumberger, Ltd. | 10,665 | 307,472 | ||||||
|
| |||||||
605,150 | ||||||||
|
| |||||||
Semiconductor Equipment4.7% |
| |||||||
ASML Holding NV (Netherlands) | 629 | 482,279 | ||||||
Lam Research Corp. | 570 | 363,324 | ||||||
|
| |||||||
845,603 | ||||||||
|
| |||||||
Semiconductors6.4% |
| |||||||
Intel Corp. | 7,186 | 386,032 | ||||||
Micron Technology, Inc.(1) | 1,700 | 131,886 | ||||||
NVIDIA Corp. | 1,748 | 340,843 | ||||||
QUALCOMM, Inc. | 1,883 | 282,073 | ||||||
|
| |||||||
1,140,834 | ||||||||
|
| |||||||
Specialized REITs5.1% |
| |||||||
American Tower Corp. | 1,586 | 448,521 | ||||||
SBA Communications Corp. | 1,346 | 458,972 | ||||||
|
| |||||||
907,493 | ||||||||
|
| |||||||
Systems Software8.5% |
| |||||||
Crowdstrike Holdings, Inc.(1) | 1,244 | 315,491 | ||||||
Microsoft Corp. | 1,919 | 546,742 | ||||||
ServiceNow, Inc.(1) | 847 | 497,943 | ||||||
Zscaler, Inc.(1) | 725 | 171,035 | ||||||
|
| |||||||
1,531,211 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals1.9% |
| |||||||
Apple, Inc. | 2,367 | 345,251 | ||||||
|
| |||||||
Trucking0.7% |
| |||||||
Uber Technologies, Inc.(1) | 2,791 | 121,297 | ||||||
|
| |||||||
Total Common Stock (Cost: $11,669,437) | 16,816,410 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS6.5% |
| |||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 1,164,832 | 1,164,832 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $1,164,832) | 1,164,832 | |||||||
|
| |||||||
Total Investments (100.2%) (Cost: $12,834,269) | 17,981,242 | |||||||
|
| |||||||
Liabilities In Excess Of Other Assets (-0.2%) | (36,961 | ) | ||||||
|
| |||||||
Net Assets (100.0%) | $ | 17,944,281 | ||||||
|
|
Notes to the Schedule of Investments:
REIT | Real Estate Investment Trust. | |
SP ADR | Sponsored American Depositary Receipt. ADRs are receipts, typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. Sponsored ADRs are ADRs issued with the cooperation of the foreign corporation. | |
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Artificial Intelligence Equity Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Agricultural & Farm Machinery | 1.7 | % | ||
Apparel, Accessories & Luxury Goods | 1.7 | |||
Application Software | 10.0 | |||
Automobile Manufacturers | 1.4 | |||
Biotechnology | 0.6 | |||
Cable & Satellite | 1.9 | |||
Communications Equipment | 10.3 | |||
Data Processing & Outsourced Services | 7.1 | |||
Electronic Equipment & Instruments | 2.0 | |||
Health Care Equipment | 0.4 | |||
Home Entertainment Software | 2.0 | |||
Interactive Home Entertainment | 2.8 | |||
Interactive Media & Services | 1.5 | |||
Internet & Direct Marketing Retail | 2.8 | |||
Internet Services & Infrastructure | 13.4 | |||
IT Consulting & Other Services | 2.4 | |||
Life Sciences Tools & Services | 1.0 | |||
Oil & Gas Equipment & Services | 3.4 | |||
Semiconductor Equipment | 4.7 | |||
Semiconductors | 6.4 | |||
Specialized REITs | 5.1 | |||
Systems Software | 8.5 | |||
Technology Hardware, Storage & Peripherals | 1.9 | |||
Trucking | 0.7 | |||
Money Market Investments | 6.5 | |||
|
| |||
Total | 100.2 | % | ||
|
|
TCW Artificial Intelligence Equity Fund | ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Agricultural & Farm Machinery | $ | 300,843 | $ | | $ | | $ | 300,843 | ||||||||
Apparel, Accessories & Luxury Goods | 301,728 | | | 301,728 | ||||||||||||
Application Software | 1,803,633 | | | 1,803,633 | ||||||||||||
Automobile Manufacturers | 253,577 | | | 253,577 | ||||||||||||
Biotechnology | 111,410 | | | 111,410 | ||||||||||||
Cable & Satellite | 334,095 | | | 334,095 | ||||||||||||
Communications Equipment | 1,843,456 | | | 1,843,456 | ||||||||||||
Data Processing & Outsourced Services | 1,266,644 | | | 1,266,644 | ||||||||||||
Electronic Equipment & Instruments | 365,512 | | | 365,512 | ||||||||||||
Health Care Equipment | 80,334 | | | 80,334 | ||||||||||||
Home Entertainment Software | 365,777 | | | 365,777 | ||||||||||||
Interactive Home Entertainment | 506,201 | | | 506,201 | ||||||||||||
Interactive Media & Services | 270,783 | | | 270,783 | ||||||||||||
Internet & Direct Marketing Retail | 495,811 | | | 495,811 | ||||||||||||
Internet Services & Infrastructure | 2,404,196 | | | 2,404,196 | ||||||||||||
IT Consulting & Other Services | 433,845 | | | 433,845 | ||||||||||||
Life Sciences Tools & Services | 181,726 | | | 181,726 | ||||||||||||
Oil & Gas Equipment & Services | 605,150 | | | 605,150 | ||||||||||||
Semiconductor Equipment | 845,603 | | | 845,603 | ||||||||||||
Semiconductors | 1,140,834 | | | 1,140,834 | ||||||||||||
Specialized REITs | 907,493 | | | 907,493 | ||||||||||||
Systems Software | 1,531,211 | | | 1,531,211 | ||||||||||||
Technology Hardware, Storage & Peripherals | 345,251 | | | 345,251 | ||||||||||||
Trucking | 121,297 | | | 121,297 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 16,816,410 | | | 16,816,410 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 1,164,832 | | | 1,164,832 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 17,981,242 | $ | | $ | | $ | 17,981,242 | ||||||||
|
|
|
|
|
|
|
|
TCW Conservative Allocation Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
EXCHANGE-TRADED FUNDS3.2% of Net Assets | ||||||||
iShares Gold Trust(1) | 9,725 | $ | 336,096 | |||||
iShares MSCI EAFE Index Fund | 10,410 | 827,491 | ||||||
|
| |||||||
Total Exchange-traded Funds (Cost: $1,028,642) | 1,163,587 | |||||||
|
| |||||||
INVESTMENT COMPANIES96.2% | ||||||||
Diversified Equity Funds39.1% | ||||||||
TCW Artificial Intelligence Equity FundI Class(1)(2) | 17,709 | 421,482 | ||||||
TCW Global Real Estate FundI Class(2) | 125,571 | 1,879,792 | ||||||
TCW New America Premier Equities FundI Class(2) | 108,291 | 3,363,529 | ||||||
TCW Relative Value Large Cap FundI Class(2) | 274,483 | 4,004,711 | ||||||
TCW Relative Value Mid Cap FundI Class(2) | 35,279 | 1,025,563 | ||||||
TCW Select Equities FundI Class(2) | 89,167 | 3,803,852 | ||||||
|
| |||||||
14,498,929 | ||||||||
|
| |||||||
Diversified Fixed Income Funds57.1% | ||||||||
Metropolitan West High Yield Bond FundI Class(2) | 35,024 | 374,758 | ||||||
Metropolitan West Low Duration Bond FundI Class(2) | 451,666 | 4,024,340 | ||||||
Metropolitan West Total Return Bond FundI Class(2) | 414,695 | 4,598,964 | ||||||
Metropolitan West Unconstrained Bond FundI Class(2) | 563,380 | 6,777,467 | ||||||
TCW Emerging Markets Income FundI Class(2) | 42,568 | 347,777 | ||||||
TCW Global Bond FundI Class(2) | 78,845 | 827,084 | ||||||
TCW Total Return Bond FundI Class(2) | 414,845 | 4,260,458 | ||||||
|
| |||||||
21,210,848 | ||||||||
|
| |||||||
Total Investment Companies (Cost: $29,220,276) | 35,709,777 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS0.7% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(3) | 260,125 | 260,125 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $260,125) | 260,125 | |||||||
|
| |||||||
Total Investments (100.1%) (Cost: $30,509,043) | 37,133,489 | |||||||
Liabilities In Excess of Other Assets (-0.1%) | (26,743 | ) | ||||||
|
| |||||||
Net Assets (100.0%) | $ | 37,106,746 | ||||||
|
|
Notes to the Schedule of Investments:
(1) | Non-income producing security. | |
(2) | Affiliated issuer. | |
(3) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Conservative Allocation Fund
Schedule of Investments (Continued)
The summary of the TCW Conservative Allocation Fund transactions in the affiliated funds for the period ended July 31, 2021 is as follows:
Name of Affiliated Fund | Value at October 31, 2020 | Purchases at Cost | Proceeds from Sales | Number of Shares Held July 31, 2021 | Value at July 31, 2021 | Dividends and Interest Income Received | Distributions Received from Net Realized Gain | Net Realized Gain/(Loss) on Investments | Net change in Unrealized Gain (Loss) on Investments | |||||||||||||||||||||||||||
Metropolitan West High Yield Bond FundI Class | $ | 401,061 | $ | 22,501 | 65,586 | 35,024 | $ | 374,758 | $ | 10,679 | $ | | $ | 948 | $ | 15,834 | ||||||||||||||||||||
Metropolitan West Low Duration Bond FundI Class | 1,904,908 | 2,707,592 | 598,715 | 451,666 | 4,024,340 | 29,005 | | (782 | ) | 11,337 | ||||||||||||||||||||||||||
Metropolitan West Total Return Bond FundI Class | 5,568,955 | 434,565 | 1,179,871 | 414,695 | 4,598,964 | 47,398 | 239,978 | (43,963 | ) | (180,722 | ) | |||||||||||||||||||||||||
Metropolitan West Unconstrained Bond FundI Class | 7,094,712 | 799,631 | 1,192,351 | 563,380 | 6,777,467 | 140,888 | 53,184 | 2,057 | 73,418 | |||||||||||||||||||||||||||
TCW Artificial Intelligence FundI Class | | 382,625 | 69,611 | 17,709 | 421,482 | | | 11,066 | 97,402 | |||||||||||||||||||||||||||
TCW Emerging Markets Income FundI Class | 371,977 | 26,003 | 61,254 | 42,568 | 347,777 | 13,410 | | (610 | ) | 11,661 | ||||||||||||||||||||||||||
TCW Global Bond FundI Class | 924,670 | 65,042 | 146,523 | 78,845 | 827,084 | 17,835 | 18,931 | (3,684 | ) | (12,421 | ) | |||||||||||||||||||||||||
TCW Global Real Estate FundI Class | 1,574,569 | 73,654 | 310,003 | 125,571 | 1,879,792 | 21,679 | | 47,730 | 493,842 | |||||||||||||||||||||||||||
TCW New America Premier Equities Fund I Class | 6,060,688 | 145,202 | 4,386,960 | 108,291 | 3,363,529 | 212 | | 1,417,123 | 127,476 | |||||||||||||||||||||||||||
TCW Relative Value Large Cap FundI Class | 2,010,196 | 2,198,945 | 1,173,224 | 274,483 | 4,004,711 | 40,093 | 151,857 | 46,296 | 922,498 | |||||||||||||||||||||||||||
TCW Relative Value Mid Cap FundI Class | 321,524 | 605,838 | 166,957 | 35,279 | 1,025,563 | 2,910 | | 9,156 | 256,002 | |||||||||||||||||||||||||||
TCW Select Equities Fund I Class | 4,793,572 | 419,667 | 2,316,653 | 89,167 | 3,803,852 | | 298,265 | 306,799 | 600,467 | |||||||||||||||||||||||||||
TCW Total Return Bond FundI Class | 4,835,096 | 636,644 | 1,116,049 | 414,845 | 4,260,458 | 69,469 | 31,537 | (25,330 | ) | (69,903 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Total | $ | 35,709,777 | $ | 393,578 | $ | 793,752 | $ | 1,766,806 | $ | 2,346,891 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
TCW Conservative Allocation Fund | ||
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Diversified Fixed Income Funds | 57.1 | % | ||
Diversified Equity Funds | 39.1 | |||
Exchange-Traded Funds | 3.2 | |||
Money Market Investments | 0.7 | |||
|
| |||
Total | 100.1 | % | ||
|
|
TCW Conservative Allocation Fund | ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Exchange-Traded Funds | $ | 1,163,587 | $ | | $ | | $ | 1,163,587 | ||||||||
Investment Companies | 35,709,777 | | | 35,709,777 | ||||||||||||
Money Market Investments | 260,125 | | | 260,125 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 37,133,489 | $ | | $ | | $ | 37,133,489 | ||||||||
|
|
|
|
|
|
|
|
TCW Developing Markets Equity Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK95.2% of Net Assets | ||||||||
Argentina3.3% (Cost: $128,812) | ||||||||
MercadoLibre, Inc.(1) | 155 | $ | 243,148 | |||||
|
| |||||||
Brazil7.0% | ||||||||
Cia Siderurgica Nacional S.A. (SP ADR) | 9,000 | 80,100 | ||||||
Iochpe-Maxion S.A.(1) | 24,400 | 68,643 | ||||||
Pet Center Comercio e Participacoes S.A. | 14,000 | 62,124 | ||||||
Petrobras Distribuidora S.A. | 14,500 | 79,809 | ||||||
Petroleo Brasileiro S.A. (SP ADR) | 6,400 | 68,288 | ||||||
Raia Drogasil S.A. | 18,600 | 91,210 | ||||||
Trisul S.A. | 39,900 | 67,597 | ||||||
|
| |||||||
Total Brazil (Cost: $493,896) | 517,771 | |||||||
|
| |||||||
China27.9% | ||||||||
Bilibili, Inc. (SP ADR)(1) | 700 | 59,906 | ||||||
China Coal Energy Co., Ltd.Class H | 132,000 | 79,374 | ||||||
China Hongqiao Group, Ltd. | 59,000 | 78,224 | ||||||
Contemporary Amperex Technology Co., Ltd. | 3,000 | 257,460 | ||||||
Galaxy Entertainment Group, Ltd.(1) | 11,000 | 74,547 | ||||||
Geely Automobile Holdings, Ltd. | 22,000 | 73,796 | ||||||
Hopson Development Holdings, Ltd. | 16,000 | 53,025 | ||||||
Kweichow Moutai Co., Ltd. | 500 | 130,230 | ||||||
LONGi Green Energy Technology Co., Ltd. | 11,382 | 152,143 | ||||||
NIO, Inc. (ADR)(1) | 1,300 | 58,084 | ||||||
Orient Overseas International, Ltd. | 5,000 | 91,408 | ||||||
Pharmaron Beijing Co., Ltd.Class H | 4,850 | 106,362 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. | 1,100 | 66,737 | ||||||
SITC International Holdings Co., Ltd. | 21,000 | 86,632 | ||||||
Tencent Holdings, Ltd. | 5,300 | 319,631 | ||||||
WuXi AppTec Co., Ltd.Class H | 7,156 | 158,614 | ||||||
Wuxi Biologics Cayman, Inc.(1) | 15,000 | 229,112 | ||||||
|
| |||||||
Total China (Cost: $1,404,360) | 2,075,285 | |||||||
|
| |||||||
France1.5% (Cost: $52,076) | ||||||||
Hermes International | 75 | 114,615 | ||||||
|
| |||||||
India8.7% | ||||||||
Apollo Hospitals Enterprise, Ltd. | 1,400 | 75,943 | ||||||
Avenue Supermarts, Ltd.(1) | 3,570 | 168,143 | ||||||
Jindal Steel & Power, Ltd.(1) | 13,000 | 75,604 | ||||||
NMDC, Ltd. | 31,500 | 76,954 | ||||||
Reliance Industries, Ltd. | 4,107 | 112,675 | ||||||
Reliance Industries, Ltd. | 273 | 5,206 | ||||||
Sequent Scientific, Ltd.(1) | 13,000 | 51,469 | ||||||
Vedanta, Ltd. | 5,000 | 80,150 | ||||||
|
| |||||||
Total India (Cost: $491,723) | 646,144 | |||||||
|
| |||||||
Kazakhstan0.8% (Cost: $40,093) | ||||||||
Kaspi.KZ JSC | 500 | 56,600 | ||||||
|
| |||||||
Malaysia2.5% | ||||||||
Comfort Glove BHD | 168,800 | 74,430 | ||||||
Greatech Technology BHD(1) | 75,000 | 114,103 | ||||||
|
| |||||||
Total Malaysia (Cost: $184,691) | 188,533 | |||||||
|
| |||||||
Mexico2.1% | ||||||||
Banco del Bajio S.A. | 45,400 | 81,246 | ||||||
Grupo Televisa, S.A.B. (SP ADR) | 5,500 | 74,525 | ||||||
|
| |||||||
Total Mexico (Cost: $153,432) | 155,771 | |||||||
|
| |||||||
Russia4.2% | ||||||||
Federal Grid Co. Unified Energy System PJSC | 26,120,000 | 72,376 | ||||||
Ozon Holdings PLC (ADR)(1) | 700 | 36,547 | ||||||
Sistema PJSFC | 175,000 | 70,640 | ||||||
Yandex N.V.(1) | 1,900 | 129,067 | ||||||
|
| |||||||
Total Russia (Cost: $261,342) | 308,630 | |||||||
|
| |||||||
Singapore 1.9% (Cost: $87,573) | ||||||||
Sea, Ltd. (ADR)(1) | 500 | 138,080 | ||||||
|
| |||||||
South Korea14.7% | ||||||||
Advanced Process Systems Corp. | 2,800 | 73,028 | ||||||
Boditech Med, Inc. | 3,923 | 76,231 | ||||||
Daewoo Engineering & Construction Co., Ltd.(1) | 10,500 | 68,045 | ||||||
Doosan Bobcat, Inc.(1) | 1,500 | 60,253 | ||||||
Halla Holdings Corp. | 1,900 | 76,095 | ||||||
Hankook Tire & Technology Co., Ltd. | 1,700 | 71,554 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 1,500 | 71,442 | ||||||
Kakao Corp. | 650 | 83,210 | ||||||
KC Tech Co., Ltd. | 3,000 | 74,631 | ||||||
NAVER Corp. | 400 | 150,760 | ||||||
Samsung Biologics Co., Ltd.(1) | 175 | 135,392 | ||||||
SK IE Technology Co., Ltd.(1) | 400 | 78,418 | ||||||
WiSoL Co., Ltd. | 6,900 | 77,240 | ||||||
|
| |||||||
Total South Korea (Cost: $1,014,255) | 1,096,299 | |||||||
|
| |||||||
Taiwan16.2% | ||||||||
Andes Technology Corp. | 3,000 | 61,856 | ||||||
ASPEED Technology, Inc. | 800 | 64,431 | ||||||
AU Optronics Corp. | 81,000 | 60,040 | ||||||
BES Engineering Corp. | 246,000 | 76,796 | ||||||
Chailease Holding Co., Ltd. | 9,560 | 79,335 | ||||||
CMC Magnetics Corp. | 216,000 | 75,786 | ||||||
Innolux Corp. | 106,000 | 71,142 | ||||||
Phison Electronics Corp. | 4,500 | 76,904 | ||||||
Ritek Corp.(1) | 145,000 | 49,584 | ||||||
Syncmold Enterprise Corp. | 17,000 | 49,996 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 18,500 | 386,641 | ||||||
Wei Chuan Foods Corp. | 102,000 | 78,349 | ||||||
Xxentria Technology Materials Corp. | 30,000 | 77,432 | ||||||
|
| |||||||
Total Taiwan (Cost: $899,613) | 1,208,292 | |||||||
|
| |||||||
Thailand1.6% | ||||||||
Jasmine International PCL (NVDR) | 576,200 | 51,904 | ||||||
Taokaenoi Food & Marketing PCL | 328,900 | 68,633 | ||||||
|
| |||||||
Total Thailand (Cost: $133,653) | 120,537 | |||||||
|
| |||||||
Turkey1.0% (Cost: $78,844) | ||||||||
Mavi Giyim Sanayi Ve Ticaret ASClass B | 12,000 | 76,238 | ||||||
|
| |||||||
United Kingdom1.8% (Cost: $66,145) | ||||||||
Genus PLC | 1,750 | 134,128 | ||||||
|
| |||||||
Total Common Stock (Cost: $5,490,508) | 7,080,071 | |||||||
|
|
TCW Developing Markets Equity Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
MONEY MARKET INVESTMENTS4.9% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 362,723 | $ | 362,723 | |||||
|
| |||||||
Total Money Market Investments (Cost: $362,723) | 362,723 | |||||||
|
| |||||||
Total Investments (100.1%) (Cost: $5,853,231) | 7,442,794 | |||||||
|
| |||||||
Liabilities In Excess Of Other Assets (-0.1%) | (7,385 | ) | ||||||
|
| |||||||
Total Net Assets (100.0%) | $ | 7,435,409 | ||||||
|
|
Notes to the Schedule of Investments:
ADR | American Depositary Receipt. ADRs are receipts typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. | |
GDR | Global Depositary Receipt. A negotiable certificate held in the bank of one country representing a specific number of shares of a stock traded on an exchange of another country. | |
NVDR | Non-Voting Depositary Receipt. | |
PJSC | Private Joint-Stock Company. | |
SP ADR | Sponsored American Depositary Receipt. ADRs are receipts, typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. Sponsored ADRs are ADRs issued with the cooperation of the foreign corporation. | |
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Developing Markets Equity Fund | ||
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Auto Components | 2.0 | % | ||
Automobiles | 1.8 | |||
Banks | 1.1 | |||
Beverages | 1.7 | |||
Biotechnology | 1.8 | |||
Building Products | 1.0 | |||
Chemicals | 2.1 | |||
Construction & Engineering | 2.9 | |||
Consumer Finance | 0.8 | |||
Diversified Financial Services | 1.1 | |||
Diversified Telecommunication Services | 0.7 | |||
Electric Utilities | 1.0 | |||
Electrical Equipment | 3.5 | |||
Electronic Equipment, Instruments & Components | 3.5 | |||
Entertainment | 2.7 | |||
Food & Staples Retailing | 3.5 | |||
Food Products | 1.9 | |||
Health Care Equipment & Supplies | 1.9 | |||
Health Care Providers & Services | 1.0 | |||
Hotels, Restaurants & Leisure | 1.0 | |||
Household Durables | 0.9 | |||
Interactive Media & Services | 9.1 | |||
Internet & Direct Marketing Retail | 3.8 | |||
Life Sciences Tools & Services | 8.4 | |||
Machinery | 1.7 | |||
Marine | 2.4 | |||
Media | 1.0 | |||
Metals & Mining | 5.3 | |||
Oil, Gas & Consumable Fuels | 3.6 | |||
Pharmaceuticals | 0.7 | |||
Real Estate Management & Development | 0.7 | |||
Semiconductors & Semiconductor Equipment | 13.4 | |||
Specialty Retail | 2.0 | |||
Technology Hardware, Storage & Peripherals | 1.7 | |||
Textiles, Apparel & Luxury Goods | 2.5 | |||
Wireless Telecommunication Services | 1.0 | |||
Money Market Investments | 4.9 | |||
|
| |||
Total | 100.1 | % | ||
|
|
TCW Developing Markets Equity Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Auto Components | $ | | $ | 147,648 | $ | | $ | 147,648 | ||||||||
Automobiles | 58,084 | 73,796 | | 131,880 | ||||||||||||
Banks | 81,247 | | | 81,247 | ||||||||||||
Beverages | | 130,230 | | 130,230 | ||||||||||||
Biotechnology | | 134,128 | | 134,128 | ||||||||||||
Building Products | | 77,432 | | 77,432 | ||||||||||||
Chemicals | 78,418 | 74,430 | | 152,848 | ||||||||||||
Construction & Engineering | | 216,283 | | 216,283 | ||||||||||||
Consumer Finance | 56,600 | | | 56,600 | ||||||||||||
Diversified Financial Services | | 79,335 | | 79,335 | ||||||||||||
Diversified Telecommunication Services | | 51,904 | | 51,904 | ||||||||||||
Electric Utilities | | 72,376 | | 72,376 | ||||||||||||
Electrical Equipment | | 257,460 | | 257,460 | ||||||||||||
Electronic Equipment, Instruments & Components | | 258,419 | | 258,419 | ||||||||||||
Entertainment | 197,986 | | | 197,986 | ||||||||||||
Food & Staples Retailing | 91,210 | 168,143 | | 259,353 | ||||||||||||
Food Products | | 146,982 | | 146,982 | ||||||||||||
Health Care Equipment & Supplies | | 142,967 | | 142,967 | ||||||||||||
Health Care Providers & Services | | 75,943 | | 75,943 | ||||||||||||
Hotels, Restaurants & Leisure | | 74,547 | | 74,547 | ||||||||||||
Household Durables | 67,597 | | | 67,597 | ||||||||||||
Interactive Media & Services | 129,067 | 553,601 | | 682,668 | ||||||||||||
Internet & Direct Marketing Retail | 279,695 | | | 279,695 | ||||||||||||
Life Sciences Tools & Services | | 629,480 | | 629,480 | ||||||||||||
Machinery | 68,643 | 60,253 | | 128,896 | ||||||||||||
Marine | | 178,040 | | 178,040 | ||||||||||||
Media | 74,525 | | | 74,525 | ||||||||||||
Metals & Mining | 160,250 | 230,782 | | 391,032 | ||||||||||||
Oil, Gas & Consumable Fuels | 68,288 | 197,255 | | 265,543 | ||||||||||||
Pharmaceuticals | | 51,469 | | 51,469 | ||||||||||||
Real Estate Management & Development | | 53,025 | | 53,025 | ||||||||||||
Semiconductors & Semiconductor Equipment | | 1,003,738 | | 1,003,738 | ||||||||||||
Specialty Retail | 141,933 | | | 141,933 | ||||||||||||
Technology Hardware, Storage & Peripherals | | 125,370 | | 125,370 | ||||||||||||
Textiles, Apparel & Luxury Goods | | 190,852 | | 190,852 | ||||||||||||
Wireless Telecommunication Services | | 70,640 | | 70,640 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 1,553,543 | 5,526,528 | | 7,080,071 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 362,723 | | | 362,723 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 1,916,266 | $ | 5,526,528 | $ | | $ | 7,442,794 | ||||||||
|
|
|
|
|
|
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES36.4% of Net Assets | ||||||||||||
Angola1.4% | ||||||||||||
Angolan Government International Bond | ||||||||||||
8.25%(1) | 05/09/28 | $ | 425,000 | $ | 448,116 | |||||||
9.13%(1) | 11/26/49 | 400,000 | 412,784 | |||||||||
9.38%(1) | 05/08/48 | 350,000 | 368,019 | |||||||||
|
| |||||||||||
Total Angola (Cost: $1,133,810) | 1,228,919 | |||||||||||
|
| |||||||||||
Argentina0.4% | ||||||||||||
Argentine Republic Government International Bond | ||||||||||||
0.50% | 07/09/30 | 370,026 | 135,429 | |||||||||
1.00% | 07/09/29 | 55,555 | 21,389 | |||||||||
1.13% | 07/09/35 | 708,054 | 230,826 | |||||||||
|
| |||||||||||
Total Argentina (Cost: $583,236) | 387,644 | |||||||||||
|
| |||||||||||
Bahrain1.2% | ||||||||||||
Bahrain Government International Bond | ||||||||||||
5.25%(1) | 01/25/33 | 200,000 | 192,600 | |||||||||
6.00%(2) | 09/19/44 | 200,000 | 188,054 | |||||||||
7.50%(2) | 09/20/47 | 650,000 | 691,119 | |||||||||
|
| |||||||||||
Total Bahrain (Cost: $1,069,475) | 1,071,773 | |||||||||||
|
| |||||||||||
Brazil1.6% | ||||||||||||
Brazilian Government International Bond | ||||||||||||
3.75% | 09/12/31 | 200,000 | 197,900 | |||||||||
3.88% | 06/12/30 | 200,000 | 202,294 | |||||||||
CSN Resources S.A. | 06/10/31 | 200,000 | 207,500 | |||||||||
JBS Finance Luxembourg Sarl | 01/15/32 | 200,000 | 201,600 | |||||||||
Light Servicos de Eletricidade S.A. / Light Energia S.A. | 06/18/26 | 200,000 | 203,020 | |||||||||
MC Brazil Downstream Trading Sarl | 06/30/31 | 200,000 | 208,690 | |||||||||
Petrobras Global Finance B.V. 5.50% | 06/10/51 | 200,000 | 197,500 | |||||||||
|
| |||||||||||
Total Brazil (Cost: $1,389,422) | 1,418,504 | |||||||||||
|
| |||||||||||
Chile1.8% | ||||||||||||
AES Gener S.A. | 03/26/79 | 200,000 | 211,549 | |||||||||
Chile Government International Bond | ||||||||||||
2.55% | 01/27/32 | 550,000 | 564,642 | |||||||||
2.55% | 07/27/33 | 200,000 | 204,404 | |||||||||
3.10% | 05/07/41 | 200,000 | 202,816 | |||||||||
Interchile S.A. | 06/30/56 | 200,000 | 214,120 | |||||||||
VTR Comunicaciones SpA | 04/15/29 | 200,000 | 200,020 | |||||||||
|
| |||||||||||
Total Chile (Cost: $1,562,240) | 1,597,551 | |||||||||||
|
| |||||||||||
China0.4% | ||||||||||||
Kaisa Group Holdings, Ltd. | 07/23/23 | 200,000 | 170,360 | |||||||||
Studio City Finance, Ltd. | 01/15/29 | 200,000 | 197,500 | |||||||||
|
| |||||||||||
Total China (Cost: $410,731) | 367,860 | |||||||||||
|
| |||||||||||
Colombia1.5% | ||||||||||||
AI Candelaria Spain SLU | 06/15/33 | 250,000 | 256,016 | |||||||||
Banco GNB Sudameris S.A. | 04/16/31 | 150,000 | 153,990 | |||||||||
Colombia Government International Bond | ||||||||||||
3.13% | 04/15/31 | 400,000 | 392,960 | |||||||||
4.13% | 02/22/42 | 550,000 | 530,200 | |||||||||
|
| |||||||||||
Total Colombia (Cost: $1,322,765) | 1,333,166 | |||||||||||
|
| |||||||||||
Costa Rica0.2% (Cost: $201,982) | ||||||||||||
Costa Rica Government International Bond | 04/04/44 | 200,000 | 210,460 | |||||||||
|
| |||||||||||
Dominican Republic1.3% | ||||||||||||
Dominican Republic International Bond | ||||||||||||
4.50%(1) | 01/30/30 | 200,000 | 206,240 | |||||||||
4.88%(1) | 09/23/32 | 895,000 | 930,800 | |||||||||
|
| |||||||||||
Total Dominican Republic (Cost: $1,112,971) | 1,137,040 | |||||||||||
|
| |||||||||||
Ecuador0.8% | ||||||||||||
Ecuador Government International Bond | ||||||||||||
0.50%(1) | 07/31/40 | 118,500 | 73,914 | |||||||||
1.00%(1) | 07/31/35 | 604,964 | 422,719 | |||||||||
5.00%(2) | 07/31/30 | 255,000 | 224,719 | |||||||||
|
| |||||||||||
Total Ecuador (Cost: $657,102) | 721,352 | |||||||||||
|
| |||||||||||
Egypt1.3% | ||||||||||||
Egypt Government International Bond | ||||||||||||
7.05%(1) | 01/15/32 | 400,000 | 408,380 | |||||||||
8.50%(2) | 01/31/47 | 675,000 | 699,367 | |||||||||
|
| |||||||||||
Total Egypt (Cost: $1,146,871) | 1,107,747 | |||||||||||
|
| |||||||||||
El Salvador0.5% | ||||||||||||
El Salvador Government International Bond | ||||||||||||
6.38%(2) | 01/18/27 | 135,000 | 118,295 | |||||||||
7.63%(2) | 02/01/41 | 150,000 | 127,359 | |||||||||
8.25%(2) | 04/10/32 | 200,000 | 183,563 | |||||||||
|
| |||||||||||
Total El Salvador (Cost: $477,280) | 429,217 | |||||||||||
|
| |||||||||||
Ghana1.0% | ||||||||||||
Ghana Government International Bond | ||||||||||||
7.88%(2) | 02/11/35 | 200,000 | 192,100 | |||||||||
8.13%(2) | 03/26/32 | 275,000 | 275,318 | |||||||||
8.88%(2) | 05/07/42 | 200,000 | 198,520 | |||||||||
8.95%(1) | 03/26/51 | 200,000 | 195,426 | |||||||||
|
| |||||||||||
Total Ghana (Cost: $896,682) | 861,364 | |||||||||||
|
| |||||||||||
Guatemala0.2% (Cost: $150,000) | ||||||||||||
Banco Industrial S.A. | 01/29/31 | 150,000 | 156,234 | |||||||||
|
| |||||||||||
India0.7% | ||||||||||||
Cliffton, Ltd. | 10/25/25 | 250,000 | 240,000 |
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Network i2i, Ltd. | 01/15/25 | $ | 200,000 | $ | 210,245 | |||||||
ReNew Wind Energy AP2 / ReNew Power Pvt, Ltd. other 9 Subsidiaries | 07/14/28 | 200,000 | 202,625 | |||||||||
|
| |||||||||||
Total India (Cost: $635,919) | 652,870 | |||||||||||
|
| |||||||||||
Indonesia1.5% | ||||||||||||
Freeport-McMoRan, Inc. | 08/01/30 | 50,000 | 55,006 | |||||||||
Indonesia Asahan Aluminium Persero PT | ||||||||||||
4.75%(1) | 05/15/25 | 225,000 | 247,117 | |||||||||
6.53%(1) | 11/15/28 | 250,000 | 306,286 | |||||||||
Minejesa Capital B.V. | 08/10/37 | 200,000 | 217,600 | |||||||||
Perusahaan Penerbit SBSN Indonesia III | ||||||||||||
3.55%(1) | 06/09/51 | 200,000 | 203,390 | |||||||||
4.15%(2) | 03/29/27 | 300,000 | 336,954 | |||||||||
|
| |||||||||||
Total Indonesia (Cost: $1,274,718) | 1,366,353 | |||||||||||
|
| |||||||||||
Iraq0.2% (Cost: $195,000) | ||||||||||||
Iraq International Bond | 01/15/28 | 203,125 | 194,802 | |||||||||
|
| |||||||||||
Israel0.5% | ||||||||||||
Energean Israel Finance, Ltd. | 03/30/31 | 259,300 | 266,431 | |||||||||
Leviathan Bond, Ltd. | ||||||||||||
6.50%(1) | 06/30/27 | 19,000 | 20,953 | |||||||||
6.75%(1) | 06/30/30 | 99,000 | 111,286 | |||||||||
|
| |||||||||||
Total Israel (Cost: $392,550) | 398,670 | |||||||||||
|
| |||||||||||
Ivory Coast0.4% (Cost: $396,113) | ||||||||||||
Ivory Coast Government International Bond | 01/30/32 | EUR | 320,000 | 384,300 | ||||||||
|
| |||||||||||
Kazakhstan0.8% | ||||||||||||
KazMunayGas National Co. JSC | ||||||||||||
3.50%(1) | 04/14/33 | $ | 400,000 | 415,360 | ||||||||
5.75%(2) | 04/19/47 | 200,000 | 249,063 | |||||||||
|
| |||||||||||
Total Kazakhstan (Cost: $632,457) | 664,423 | |||||||||||
|
| |||||||||||
Lebanon0.1% (Cost: $239,512) | ||||||||||||
Lebanon Government International Bond | 05/17/34 | 870,000 | 109,829 | |||||||||
|
| |||||||||||
Malaysia0.2% (Cost: $200,000) | ||||||||||||
Petronas Capital, Ltd. | 04/28/61 | 200,000 | 208,082 | |||||||||
|
| |||||||||||
Mexico2.5% | ||||||||||||
Banco Mercantil del Norte S.A. | 07/06/22 | 200,000 | 206,618 | |||||||||
Cemex SAB de CV | 07/11/31 | 400,000 | 418,424 | |||||||||
Mexico Government International Bond | 08/14/41 | 400,000 | 424,160 | |||||||||
Petroleos Mexicanos | ||||||||||||
5.95% | 01/28/31 | 430,000 | 423,227 | |||||||||
6.63% | 06/15/35 | 384,000 | 372,557 | |||||||||
6.75% | 09/21/47 | 430,000 | 384,996 | |||||||||
|
| |||||||||||
Total Mexico (Cost: $2,189,831) | 2,229,982 | |||||||||||
|
| |||||||||||
Morocco0.2% (Cost: $199,500) | ||||||||||||
OCP S.A. | 06/23/51 | 200,000 | 205,000 | |||||||||
|
| |||||||||||
Nigeria0.9% | ||||||||||||
Nigeria Government International Bond | ||||||||||||
7.14%(1) | 02/23/30 | 400,000 | 421,160 | |||||||||
7.63%(2) | 11/28/47 | 200,000 | 201,878 | |||||||||
7.70%(1) | 02/23/38 | 200,000 | 205,600 | |||||||||
|
| |||||||||||
Total Nigeria (Cost: $730,035) | 828,638 | |||||||||||
|
| |||||||||||
Oman1.2% | ||||||||||||
Oman Government International Bond | ||||||||||||
6.00%(2) | 08/01/29 | 250,000 | 267,125 | |||||||||
6.25%(1) | 01/25/31 | 200,000 | 216,544 | |||||||||
6.50%(2) | 03/08/47 | 400,000 | 398,640 | |||||||||
Oryx Funding, Ltd. | 02/03/31 | 200,000 | 211,181 | |||||||||
|
| |||||||||||
Total Oman (Cost: $1,034,326) | 1,093,490 | |||||||||||
|
| |||||||||||
Pakistan0.7% | ||||||||||||
Pakistan Government International Bond | ||||||||||||
6.88%(2) | 12/05/27 | 235,000 | 241,189 | |||||||||
7.38%(1) | 04/08/31 | 200,000 | 201,500 | |||||||||
8.88%(1) | 04/08/51 | 200,000 | 207,000 | |||||||||
|
| |||||||||||
Total Pakistan (Cost: $665,460) | 649,689 | |||||||||||
|
| |||||||||||
Panama0.7% | ||||||||||||
Panama Government International Bond | ||||||||||||
2.25% | 09/29/32 | 200,000 | 194,428 | |||||||||
3.16% | 01/23/30 | 400,000 | 422,260 | |||||||||
|
| |||||||||||
Total Panama (Cost: $628,739) | 616,688 | |||||||||||
|
| |||||||||||
Paraguay0.5% (Cost: $417,187) | ||||||||||||
Paraguay Government International Bond | 03/13/48 | 400,000 | 477,300 | |||||||||
|
| |||||||||||
Peru0.3% | ||||||||||||
Cia de Minas Buenaventura SAA | 07/23/26 | 200,000 | 192,754 | |||||||||
Volcan Cia Minera SAA | 02/11/26 | 95,000 | 92,005 | |||||||||
|
| |||||||||||
Total Peru (Cost: $294,759) | 284,759 | |||||||||||
|
| |||||||||||
Philippines0.7% | ||||||||||||
Philippine Government International Bond | ||||||||||||
1.95% | 01/06/32 | 200,000 | 198,854 | |||||||||
3.20% | 07/06/46 | 400,000 | 410,248 | |||||||||
|
| |||||||||||
Total Philippines (Cost: $608,192) | 609,102 | |||||||||||
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Qatar1.7% | ||||||||||||
Qatar Government International Bond | ||||||||||||
3.75%(1) | 04/16/30 | $ | 300,000 | $ | 341,949 | |||||||
4.40%(1) | 04/16/50 | 200,000 | 247,180 | |||||||||
Qatar Petroleum | ||||||||||||
2.25%(1) | 07/12/31 | 200,000 | 202,675 | |||||||||
3.13%(1) | 07/12/41 | 325,000 | 338,000 | |||||||||
3.30%(1) | 07/12/51 | 400,000 | 415,880 | |||||||||
|
| |||||||||||
Total Qatar (Cost: $1,508,032) | 1,545,684 | |||||||||||
|
| |||||||||||
Romania0.6% | ||||||||||||
Romanian Government International Bond | ||||||||||||
2.63%(1) | 12/02/40 | EUR | 182,000 | 211,909 | ||||||||
3.00%(1) | 02/14/31 | $ | 278,000 | 289,351 | ||||||||
|
| |||||||||||
Total Romania (Cost: $502,250) | 501,260 | |||||||||||
|
| |||||||||||
Saudi Arabia1.8% | ||||||||||||
SA Global Sukuk, Ltd. | 06/17/31 | 200,000 | 205,850 | |||||||||
Saudi Government International Bond | ||||||||||||
2.25%(1) | 02/02/33 | 200,000 | 197,100 | |||||||||
3.45%(1) | 02/02/61 | 325,000 | 326,436 | |||||||||
3.75%(2) | 01/21/55 | 825,000 | 882,084 | |||||||||
|
| |||||||||||
Total Saudi Arabia (Cost: $1,557,500) | 1,611,470 | |||||||||||
|
| |||||||||||
Senegal0.2% (Cost: $195,212) | ||||||||||||
Senegal Government International Bond | 06/08/37 | EUR | 160,000 | 190,250 | ||||||||
|
| |||||||||||
South Africa1.2% | ||||||||||||
Eskom Holdings SOC, Ltd. | ||||||||||||
7.13%(2) | 02/11/25 | $ | 400,000 | 421,440 | ||||||||
8.45%(2) | 08/10/28 | 200,000 | 225,520 | |||||||||
Sasol Financing USA LLC | 09/18/26 | 200,000 | 205,180 | |||||||||
South Africa Government Bond | 02/28/35 | ZAR | 3,650,000 | 226,155 | ||||||||
|
| |||||||||||
Total South Africa (Cost: $1,080,732) | 1,078,295 | |||||||||||
|
| |||||||||||
Thailand0.2% (Cost: $200,000) | ||||||||||||
Bangkok Bank PCL/Hong Kong | 09/23/25 | $ | 200,000 | 210,900 | ||||||||
|
| |||||||||||
Turkey1.4% | ||||||||||||
Akbank TAS | 06/22/31 | 200,000 | 201,040 | |||||||||
Turkey Government International Bond | ||||||||||||
5.25% | 03/13/30 | 340,000 | 326,774 | |||||||||
5.88% | 06/26/31 | 360,000 | 353,354 | |||||||||
6.13% | 10/24/28 | 325,000 | 334,885 | |||||||||
|
| |||||||||||
Total Turkey (Cost: $1,148,544) | 1,216,053 | |||||||||||
|
| |||||||||||
Ukraine1.6% | ||||||||||||
Metinvest B.V. | 10/17/29 | 200,000 | 221,000 | |||||||||
Ukraine Government International Bond | ||||||||||||
1.26%(2),(6) | 05/31/40 | 554,000 | 647,526 | |||||||||
7.25%(2) | 03/15/33 | 200,000 | 206,748 | |||||||||
7.38%(2) | 09/25/32 | 220,000 | 229,529 | |||||||||
7.75%(2) | 09/01/27 | 100,000 | 109,738 | |||||||||
|
| |||||||||||
Total Ukraine (Cost: $1,165,479) | 1,414,541 | |||||||||||
|
| |||||||||||
United Arab Emirates1.4% | ||||||||||||
Abu Dhabi Government International Bond | 03/02/31 | 450,000 | 439,515 | |||||||||
Galaxy Pipeline Assets Bidco, Ltd. | ||||||||||||
2.16%(1) | 03/31/34 | 200,000 | 198,606 | |||||||||
2.63%(1) | 03/31/36 | 400,000 | 397,360 | |||||||||
2.94%(1) | 09/30/40 | 200,000 | 201,863 | |||||||||
|
| |||||||||||
Total United Arab Emirates (Cost: $1,227,299) | 1,237,344 | |||||||||||
|
| |||||||||||
Uruguay0.4% | ||||||||||||
Uruguay Government International Bond | ||||||||||||
4.38% | 01/23/31 | 230,829 | 270,347 | |||||||||
4.98% | 04/20/55 | 55,830 | 72,289 | |||||||||
|
| |||||||||||
Total Uruguay (Cost: $301,469) | 342,636 | |||||||||||
|
| |||||||||||
Venezuela0.2% | ||||||||||||
Venezuela Government International Bond | ||||||||||||
9.25%(5),(7) | 09/15/27 | 550,000 | 57,750 | |||||||||
9.25%(2),(5),(7) | 05/07/28 | 787,000 | 82,635 | |||||||||
|
| |||||||||||
Total Venezuela (Cost: $413,469) | 140,385 | |||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $32,148,851) | 32,491,626 | |||||||||||
|
| |||||||||||
Issues | Shares | |||||||||||
COMMON STOCK56.0% | ||||||||||||
Argentina2.2% (Cost: $808,221) | ||||||||||||
MercadoLibre, Inc.(8) | 1,230 | 1,929,501 | ||||||||||
|
| |||||||||||
Brazil3.3% | ||||||||||||
Cia Siderurgica Nacional S.A. (SP ADR) | 53,500 | 476,150 | ||||||||||
Iochpe-Maxion S.A(8) | 136,400 | 383,725 | ||||||||||
Pet Center Comercio e Participacoes S.A.(8) | 83,000 | 368,308 | ||||||||||
Petrobras Distribuidora S.A. | 81,300 | 447,481 | ||||||||||
Petroleo Brasileiro S.A. (SP ADR) | 46,500 | 496,155 | ||||||||||
Raia Drogasil S.A. | 90,500 | 443,788 | ||||||||||
Trisul S.A. | 222,900 | 377,628 | ||||||||||
|
| |||||||||||
Total Brazil (Cost: $2,848,569) | 2,993,235 | |||||||||||
|
| |||||||||||
China17.1% | ||||||||||||
China Coal Energy Co., Ltd.Class H | 739,000 | 444,376 | ||||||||||
China Hongqiao Group, Ltd. | 340,000 | 450,783 | ||||||||||
Contemporary Amperex Technology Co., Ltd. | 28,184 | 2,418,750 | ||||||||||
Galaxy Entertainment Group, Ltd.(8) | 80,000 | 542,160 | ||||||||||
Hopson Development Holdings, Ltd. | 124,000 | 410,943 | ||||||||||
Kweichow Moutai Co., Ltd. | 3,600 | 937,654 | ||||||||||
LONGi Green Energy Technology Co., Ltd. | 92,680 | 1,238,854 | ||||||||||
NIO, Inc. (ADR)(8) | 12,600 | 562,968 | ||||||||||
Orient Overseas International, Ltd. | 45,000 | 822,671 | ||||||||||
Pharmaron Beijing Co., Ltd.Class H | 25,750 | 564,704 | ||||||||||
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. | 12,800 | 776,571 | ||||||||||
SITC International Holdings Co., Ltd. | 49,000 | 202,142 | ||||||||||
Tencent Holdings, Ltd. | 43,412 | 2,618,080 |
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
WuXi AppTec Co., Ltd.Class H | 66,268 | $ | 1,468,840 | |||||
Wuxi Biologics Cayman, Inc.(8) | 117,000 | 1,787,076 | ||||||
|
| |||||||
Total China (Cost: $9,222,396) | 15,246,572 | |||||||
|
| |||||||
France1.0% (Cost: $399,975) | ||||||||
Hermes International | 600 | 916,917 | ||||||
|
| |||||||
India6.1% | ||||||||
Apollo Hospitals Enterprise, Ltd. | 12,200 | 661,789 | ||||||
Avenue Supermarts, Ltd.(8) | 36,330 | 1,711,105 | ||||||
Jindal Steel & Power, Ltd.(8) | 105,000 | 610,649 | ||||||
NMDC, Ltd. | 200,000 | 488,594 | ||||||
Reliance Industries, Ltd. | 28,315 | 776,821 | ||||||
Reliance Industries, Ltd. | 3,214 | 61,286 | ||||||
Sequent Scientific, Ltd.(8) | 113,500 | 449,365 | ||||||
Vedanta, Ltd. (ADR) | 42,300 | 678,069 | ||||||
|
| |||||||
Total India (Cost: $4,087,848) | 5,437,678 | |||||||
|
| |||||||
Malaysia0.8% | ||||||||
Comfort Glove BHD | 943,600 | 416,066 | ||||||
Greatech Technology BHD(8) | 226,000 | 343,831 | ||||||
|
| |||||||
Total Malaysia (Cost: $778,519) | 759,897 | |||||||
|
| |||||||
Mexico1.2% | ||||||||
Banco del Bajio S.A.(8) | 372,400 | 666,437 | ||||||
Grupo Televisa, S.A.B. (SP ADR) | 31,100 | 421,405 | ||||||
|
| |||||||
Total Mexico (Cost: $1,053,488) | 1,087,842 | |||||||
|
| |||||||
Russia3.3% | ||||||||
Federal Grid Co. Unified Energy System PJSC | 145,990,000 | 404,523 | ||||||
Ozon Holdings PLC (ADR)(8) | 5,000 | 261,050 | ||||||
Sistema PJSFC | 1,450,000 | 585,301 | ||||||
Yandex N.V.(8) | 24,400 | 1,657,492 | ||||||
|
| |||||||
Total Russia (Cost: $2,201,155) | 2,908,366 | |||||||
|
| |||||||
Singapore1.5% (Cost: $810,762) | ||||||||
Sea, Ltd. (ADR)(8) | 4,900 | 1,353,184 | ||||||
|
| |||||||
South Korea7.6% | ||||||||
Advanced Process Systems Corp. | 15,500 | 404,265 | ||||||
Boditech Med, Inc. | 21,922 | 425,982 | ||||||
Daewoo Engineering & Construction Co., Ltd.(8) | 60,500 | 392,068 | ||||||
Doosan Bobcat, Inc.(8) | 12,000 | 482,025 | ||||||
Halla Holdings Corp. | 15,500 | 620,771 | ||||||
Hankook Tire & Technology Co., Ltd. | 9,600 | 404,068 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 8,500 | 404,839 | ||||||
Kakao Corp.(8) | 3,350 | 428,850 | ||||||
KC Tech Co., Ltd. | 17,000 | 422,912 | ||||||
NAVER Corp. | 2,600 | 979,944 | ||||||
Samsung Biologics Co., Ltd.(8) | 1,150 | 889,718 | ||||||
SK IE Technology Co., Ltd.(8) | 2,500 | 490,111 | ||||||
WiSoL Co., Ltd. | 38,000 | 425,382 | ||||||
|
| |||||||
Total South Korea (Cost: $6,257,859) | 6,770,935 | |||||||
|
| |||||||
Taiwan9.7% | ||||||||
Andes Technology Corp. | 10,000 | 206,189 | ||||||
ASPEED Technology, Inc. | 8,200 | 660,415 | ||||||
AU Optronics Corp. | 673,000 | 498,853 | ||||||
BES Engineering Corp. | 1,376,000 | 429,558 | ||||||
Chailease Holding Co., Ltd. | 91,160 | 756,503 | ||||||
CMC Magnetics Corp. | 1,212,000 | 425,242 | ||||||
Innolux Corp. | 592,000 | 397,323 | ||||||
Phison Electronics Corp. | 38,000 | 649,413 | ||||||
Ritek Corp.(8) | 1,206,000 | 412,404 | ||||||
Syncmold Enterprise Corp. | 155,000 | 455,842 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 147,000 | 3,072,226 | ||||||
Wei Chuan Foods Corp. | 383,000 | 294,194 | ||||||
Xxentria Technology Materials Corp. | 168,000 | 433,617 | ||||||
|
| |||||||
Total Taiwan (Cost: $6,106,456) | 8,691,779 | |||||||
|
| |||||||
Thailand0.8% | ||||||||
Jasmine International PCL (NVDR) | 5,102,900 | 459,667 | ||||||
Taokaenoi Food & Marketing PCL | 1,225,200 | 255,668 | ||||||
|
| |||||||
Total Thailand (Cost: $771,175) | 715,335 | |||||||
|
| |||||||
Turkey0.5% (Cost: $446,785) | ||||||||
Mavi Giyim Sanayi Ve Ticaret ASClass B | 68,000 | 432,013 | ||||||
United Kingdom0.9% (Cost: $376,878) | ||||||||
Genus PLC | 10,300 | 789,441 | ||||||
|
| |||||||
Total Common Stock (Cost: $36,170,086) | 50,032,695 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS4.7% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(9) | 4,219,849 | 4,219,849 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $4,219,849) | 4,219,849 | |||||||
|
| |||||||
Total Investments (97.1%) (Cost: $72,538,786) | 86,744,170 | |||||||
Excess of Other Assets Over Liabilities (2.9%) | 2,598,644 | |||||||
|
| |||||||
Total Net Assets (100.0%) | $ | 89,342,814 | ||||||
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FORWARD CURRENCY CONTRACTS
Counterparty | Contracts to Deliver | Units of Currency | Settlement Date | In Exchange for U.S. Dollars | Contracts at Value | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
SELL(10) | ||||||||||||||||||||||||
BNP Paribas S. A. | ZAR | 3,459,720 | 10/04/21 | $ | 240,000 | $ | 234,658 | $ | 5,342 |
CREDIT DEFAULT SWAPSBUY PROTECTION
Notional | Expiration Date | Counterparty & Reference Entity | Fixed Deal Pay Rate | Payment Frequency | Unrealized Appreciation (Depreciation) | Premium Paid (Received) | Value(12) | |||||||||||||||||||||
OTC Swaps | ||||||||||||||||||||||||||||
375,000 | 6/20/26 | Morgan Stanley & Co. | Chile Government International Bond 3.24 02/06/2028 | 1.0 | % | Quarterly | $ | 2,024 | $ | (7,410 | ) | $ | (5,386 | ) | ||||||||||||||
150,000 | 6/20/26 | Bank of America | Federal Republic of Brazil 4.25 01/07/2025 | 1.0 | % | Quarterly | (2,714 | ) | 7,906 | 5,192 | ||||||||||||||||||
600,000 | 6/20/26 | Barclays Capital Inc. | Federal Republic of Brazil 4.25 01/07/2025 | 1.0 | % | Quarterly | (6,656 | ) | 27,424 | 20,768 | ||||||||||||||||||
80,000 | 6/20/26 | Bank of America | Peruvian Government International Bond 8.75 11/21/2033 | 1.0 | % | Quarterly | (53 | ) | 142 | 89 | ||||||||||||||||||
80,000 | 6/20/26 | Barclays Capital Inc. | Peruvian Government International Bond 8.75 11/21/2033 | 1.0 | % | Quarterly | (100 | ) | 189 | 89 | ||||||||||||||||||
150,000 | 6/20/26 | Goldman Sachs International | United Mexican States 4.15 03/28/2027 | 1.0 | % | Quarterly | (1,440 | ) | 1,139 | (301 | ) | |||||||||||||||||
450,000 | 6/20/26 | Barclays Capital Inc. | United Mexican States 4.15 03/28/2027 | 1.0 | % | Quarterly | (4,403 | ) | 3,500 | (903 | ) | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ | (13,342 | ) | $ | 32,890 | $ | 19,548 | ||||||||||||||||||||||
|
|
|
|
|
|
Futures Contracts
Number of | Type | Notional | Expiration Date | Market Value | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Short Futures | ||||||||||||||||||
4 | U.S. Ultra Long Bond Futures | 09/21/21 | $ | (648,505 | ) | $ | (658,875 | ) | $ | (10,370 | ) |
Notes to the Schedule of Investments: | ||
ADR | American Depositary Receipt. ADRs are receipts typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. | |
PJSC | Private Joint-Stock Company. | |
NVDR | Non-Voting Depositary Receipt. | |
EUR | Euro Currency. | |
USD | U.S. Dollar. | |
ZAR | South African Rand. | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $15,446,802 or 17.3% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |
(2) | Investments issued under Regulation S of the Securities Act of 1933, as amended, may not be offered, sold, or delivered within the United States except under special exemptions. At July 31, 2021, the value of these securities amounted to $9,322,165 or 10.4% of net assets. | |
(3) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |
(4) | Perpetual maturity. | |
(5) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. | |
(6) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |
(7) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |
(8) | Non-income producing security. | |
(9) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |
(10) | Fund sells foreign currency, buys U.S. Dollar. |
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
(11) | The maximum potential amount the Fund could be required to make as seller of credit protection or receive as buyer of protection if a credit event occurred as defined under the terms of that particular swap agreement. | |
(12) | The value of a credit default swap agreement serves as an indicator of the current status of the payments/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the reference entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreements. |
TCW Emerging Markets Multi-Asset Opportunities Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Agriculture | 0.9 | % | ||
Apparel | 1.0 | |||
Auto Manufacturers | 0.6 | |||
Auto Parts & Equipment | 0.9 | |||
Banks | 1.8 | |||
Beverages | 1.1 | |||
Biotechnology | 1.0 | |||
Building Materials | 1.0 | |||
Chemicals | 1.0 | |||
Coal | 0.5 | |||
Computers | 2.1 | |||
Distribution &Wholesale | 0.7 | |||
Diversified Financial Services | 0.8 | |||
Electric | 2.4 | |||
Electrical Components & Equipment | 2.7 | |||
Electronics | 1.0 | |||
Energy-Alternate Sources | 1.4 | |||
Engineering & Construction | 1.9 | |||
Food | 2.8 | |||
Foreign Government Bonds | 23.7 | |||
Health Care-Products | 1.3 | |||
Health Care-Services | 5.0 | |||
Internet | 10.3 | |||
Iron & Steel | 1.7 | |||
Lodging | 0.8 | |||
Machinery-Construction & Mining | 0.5 | |||
Machinery-Diversified | 0.9 | |||
Media | 0.7 | |||
Mining | 2.8 | |||
Miscellaneous Manufacturers | 0.5 | |||
Oil & Gas | 6.5 | |||
Pharmaceuticals | 0.5 | |||
Pipelines | 1.2 | |||
Real Estate | 1.1 | |||
Retail | 1.4 | |||
Semiconductors | 5.3 | |||
Telecommunications | 1.4 | |||
Transportation | 1.2 | |||
Money Market Investments | 4.7 | |||
|
| |||
Total | 97.1 | % | ||
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund
Investments by Country (Unaudited) | July 31, 2021 |
Country | Percentage of Net Assets | |||
Angola | 1.4 | % | ||
Argentina | 2.6 | |||
Bahrain | 1.2 | |||
Brazil | 4.9 | |||
Chile | 1.8 | |||
China | 17.5 | |||
Colombia | 1.5 | |||
Costa Rica | 0.2 | |||
Dominican Republic | 1.3 | |||
Ecuador | 0.8 | |||
Egypt | 1.3 | |||
El Salvador | 0.5 | |||
France | 1.0 | |||
Ghana | 1.0 | |||
Guatemala | 0.2 | |||
India | 6.8 | |||
Indonesia | 1.5 | |||
Iraq | 0.2 | |||
Israel | 0.4 | |||
Ivory Coast | 0.4 | |||
Kazakhstan | 0.8 | |||
Lebanon | 0.1 | |||
Malaysia | 1.1 | |||
Mexico | 3.7 | |||
Morocco | 0.2 | |||
Nigeria | 0.9 | |||
Oman | 1.2 | |||
Pakistan | 0.7 | |||
Panama | 0.7 | |||
Paraguay | 0.5 | |||
Peru | 0.3 | |||
Philippines | 0.7 | |||
Qatar | 1.7 | |||
Romania | 0.6 | |||
Russia | 3.3 | |||
Saudi Arabia | 1.8 | |||
Senegal | 0.2 | |||
Singapore | 1.5 | |||
South Africa | 1.2 | |||
South Korea | 7.6 | |||
Taiwan | 9.7 | |||
Thailand | 1.0 | |||
Turkey | 1.9 | |||
Ukraine | 1.6 | |||
United Arab Emirates | 1.4 | |||
United Kingdom | 0.9 | |||
United States | 4.7 | |||
Uruguay | 0.4 | |||
Venezuela | 0.2 | |||
|
| |||
Total | 97.1 | % | ||
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Banks | $ | | $ | 928,782 | $ | | $ | 928,782 | ||||||||
Building Materials | | 418,424 | | 418,424 | ||||||||||||
Chemicals | | 410,180 | | 410,180 | ||||||||||||
Electric | | 1,692,935 | | 1,692,935 | ||||||||||||
Engineering & Construction | | 454,120 | | 454,120 | ||||||||||||
Food | | 201,600 | | 201,600 | ||||||||||||
Foreign Government Bonds | | 21,071,012 | 140,385 | 21,211,397 | ||||||||||||
Iron & Steel | | 428,500 | | 428,500 | ||||||||||||
Lodging | | 197,500 | | 197,500 | ||||||||||||
Media | | 200,020 | | 200,020 | ||||||||||||
Mining | | 893,168 | | 893,168 | ||||||||||||
Oil & Gas | | 4,020,550 | | 4,020,550 | ||||||||||||
Pipelines | | 1,053,845 | | 1,053,845 | ||||||||||||
Real Estate | | 170,360 | | 170,360 | ||||||||||||
Telecommunications | | 210,245 | | 210,245 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | | 32,351,241 | 140,385 | 32,491,626 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Common Stock | ||||||||||||||||
Agriculture | | 789,441 | | 789,441 | ||||||||||||
Apparel | | 916,917 | | 916,917 | ||||||||||||
Auto Manufacturers | 562,968 | | | 562,968 | ||||||||||||
Auto Parts & Equipment | 383,725 | 404,068 | | 787,793 | ||||||||||||
Banks | 666,437 | | | 666,437 | ||||||||||||
Beverages | | 937,654 | | 937,654 | ||||||||||||
Biotechnology | | 889,718 | | 889,718 | ||||||||||||
Building Materials | | 433,617 | | 433,617 | ||||||||||||
Chemicals | 490,111 | | | 490,111 | ||||||||||||
Coal | | 444,376 | | 444,376 | ||||||||||||
Computers | | 1,884,382 | | 1,884,382 | ||||||||||||
Distribution &Wholesale | | 620,771 | | 620,771 | ||||||||||||
Diversified Financial Services | | 756,503 | | 756,503 | ||||||||||||
Electric | | 404,523 | | 404,523 | ||||||||||||
Electrical Components & Equipment | | 2,418,750 | | 2,418,750 | ||||||||||||
Electronics | | 924,235 | | 924,235 | ||||||||||||
Energy-Alternate Sources | | 1,238,854 | | 1,238,854 | ||||||||||||
Engineering & Construction | | 1,226,465 | | 1,226,465 | ||||||||||||
Food | | 2,260,967 | | 2,260,967 | ||||||||||||
Health Care-Products | | 1,202,553 | | 1,202,553 | ||||||||||||
Health Care-Services | | 4,482,409 | | 4,482,409 | ||||||||||||
Internet | 5,201,227 | 4,026,874 | | 9,228,101 | ||||||||||||
Iron & Steel | 476,150 | 610,649 | | 1,086,799 | ||||||||||||
Lodging | | 542,160 | | 542,160 | ||||||||||||
Machinery-Construction & Mining | | 482,025 | | 482,025 | ||||||||||||
Machinery-Diversified | | 799,673 | | 799,673 | ||||||||||||
Media | 421,405 | | | 421,405 | ||||||||||||
Mining | 678,069 | 939,377 | | 1,617,446 | ||||||||||||
Miscellaneous Manufacturers | | 416,067 | | 416,067 | ||||||||||||
Oil & Gas | 943,636 | 838,107 | | 1,781,743 | ||||||||||||
Pharmaceuticals | | 449,365 | | 449,365 | ||||||||||||
Real Estate | 377,628 | 410,943 | | 788,571 | ||||||||||||
Retail | 812,096 | 432,013 | | 1,244,109 | ||||||||||||
Semiconductors | | 4,766,007 | | 4,766,007 | ||||||||||||
Telecommunications | | 1,044,968 | | 1,044,968 | ||||||||||||
Transportation | | 1,024,812 | | 1,024,812 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 11,013,452 | 39,019,243 | | 50,032,695 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 4,219,849 | | | 4,219,849 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 15,233,301 | $ | 71,370,484 | $ | 140,385 | $ | 86,744,170 | ||||||||
|
|
|
|
|
|
|
|
TCW Emerging Markets Multi-Asset Opportunities Fund | ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
Asset Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | | 5,342 | | 5,342 | ||||||||||||
Swap Agreements | ||||||||||||||||
Credit Risk | | 26,138 | | 26,138 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 15,233,301 | $ | 71,401,964 | $ | 140,385 | $ | 86,775,650 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Swap Agreements | ||||||||||||||||
Credit Risk | | (6,590 | ) | | (6,590 | ) | ||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | $ | (10,370 | ) | $ | | $ | | $ | (10,370 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (10,370 | ) | $ | (6,590 | ) | $ | | $ | (16,960 | ) | |||||
|
|
|
|
|
|
|
|
TCW Global Real Estate Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK97.2% of Net Assets | ||||||||
Australia1.5% (Cost: $381,075) | ||||||||
Mirvac Group | 228,670 | $ | 480,740 | |||||
|
| |||||||
Canada9.1% | ||||||||
H&R Real Estate Investment Trust | 48,989 | 660,460 | ||||||
Killam Apartment Real Estate Investment Trust | 47,549 | 788,452 | ||||||
Morguard North American Residential Real Estate Investment Trust | 35,067 | 497,767 | ||||||
Summit Industrial Income REIT | 66,824 | 1,015,461 | ||||||
|
| |||||||
Total Canada (Cost: $2,416,202) | 2,962,140 | |||||||
|
| |||||||
China1.2% | ||||||||
China Resources Land, Ltd. | 10,000 | 33,418 | ||||||
GDS Holdings, Ltd. (ADR)(1) | 6,238 | 367,793 | ||||||
|
| |||||||
Total China (Cost: $417,068) | 401,211 | |||||||
|
| |||||||
Germany8.8% | ||||||||
LEG Immobilien SE | 7,473 | 1,180,635 | ||||||
Stroeer SE & Co. KGaA | 4,741 | 374,848 | ||||||
Vonovia SE | 19,555 | 1,301,457 | ||||||
|
| |||||||
Total Germany (Cost: $2,684,208) | 2,856,940 | |||||||
|
| |||||||
Ireland1.5% (Cost: $485,408) | ||||||||
Irish Residential Properties REIT PLC | 263,879 | 481,878 | ||||||
|
| |||||||
Japan5.2% | ||||||||
Mitsubishi Estate Co., Ltd. | 60,300 | 945,533 | ||||||
Nippon Prologis REIT, Inc. | 219 | 731,065 | ||||||
|
| |||||||
Total Japan (Cost: $1,647,101) | 1,676,598 | |||||||
|
| |||||||
United Kingdom4.4% (Cost: $1,018,978) | ||||||||
Segro PLC | 83,608 | 1,413,685 | ||||||
|
| |||||||
United States65.5% | ||||||||
Alexandria Real Estate Equities, Inc. | 9,111 | 1,834,409 | ||||||
American Tower Corp. | 3,383 | 956,712 | ||||||
BrightSpire Capital, Inc. | 167,300 | 1,591,023 | ||||||
Chatham Lodging Trust(1) | 55,389 | 680,177 | ||||||
CoreSite Realty Corp. | 12,645 | 1,747,665 | ||||||
CoStar Group, Inc.(1) | 4,283 | 380,544 | ||||||
Easterly Government Properties, Inc. | 32,898 | 746,785 | ||||||
Equinix, Inc. | 841 | 689,965 | ||||||
Gaming and Leisure Properties, Inc. | 40,835 | 1,933,129 | ||||||
Invitation Homes, Inc. | 24,221 | 985,310 | ||||||
Iron Mountain, Inc. | 26,250 | 1,148,700 | ||||||
Jones Lang LaSalle, Inc.(1) | 6,271 | 1,395,736 | ||||||
M/I Homes, Inc.(1) | 12,900 | 834,759 | ||||||
New Residential Investment Corp. | 100,000 | 976,000 | ||||||
Ocwen Financial Corp.(1) | 26,318 | 688,216 | ||||||
Pebblebrook Hotel Trust | 29,267 | 658,215 | ||||||
Regency Centers Corp. | 9,759 | 638,336 | ||||||
STORE Capital Corp. | 8,819 | 319,160 | ||||||
Switch, Inc. | 22,880 | 472,701 | ||||||
Taylor Morrison Home Corp.(1) | 18,186 | 487,748 | ||||||
Terreno Realty Corp. | 4,777 | 326,556 | ||||||
TPG RE Finance Trust, Inc. | 50,000 | 658,000 | ||||||
UMH Properties, Inc. | 13,817 | 321,660 | ||||||
Welltower, Inc. | 9,163 | 795,898 | ||||||
|
| |||||||
Total United States (Cost: $18,636,637) | 21,267,404 | |||||||
|
| |||||||
Total Common Stock (Cost: $27,686,677) | 31,540,596 | |||||||
|
| |||||||
Total Purchased Options(2) (0.4%) (Cost: $327,901) | 136,250 | |||||||
|
| |||||||
Money Market Investments4.9% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(3) | 1,596,672 | $ | 1,596,672 | |||||
|
| |||||||
Total Money Market Investments (Cost: $1,596,672) | 1,596,672 | |||||||
|
| |||||||
Total Investments (102.5%) (Cost: $29,611,250) | 33,273,518 | |||||||
|
| |||||||
Liabilities In Excess Of Other Assets (-2.5%) | (818,839 | ) | ||||||
Net Assets (100.0%) | $ | 32,454,679 | ||||||
|
|
TCW Global Real Estate Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
PURCHASED OPTIONSEXCHANGE TRADED
Description | Counterparty | Exercise Price | Expiration Date | Number of Contracts | Notional Amount | Market Value | Premiums Paid (Received) by Fund | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
Call |
| |||||||||||||||||||||||||||||||
Brightspire Capital, Inc. | $ | 10.00 | 8/20/21 | 1,000 | $ | 951,000 | $ | 22,500 | $ | 49,781 | $ | (27,281 | ) | |||||||||||||||||||
Put |
| |||||||||||||||||||||||||||||||
Host Hotels & Resorts, Inc. | 17.00 | 10/15/21 | 500 | 796,500 | 80,000 | 72,448 | 7,552 | |||||||||||||||||||||||||
Preferred Apartment Communities, Inc. | 7.50 | 10/15/21 | 1,000 | 1,054,000 | 12,500 | 48,035 | (35,535 | ) | ||||||||||||||||||||||||
Vanguard Real Estate ETF | 95.00 | 9/17/21 | 500 | 5,314,500 | 21,250 | 157,637 | (136,387 | ) | ||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 136,250 | $ | 327,901 | $ | (191,651 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
WRITTEN OPTIONSEXCHANGE TRADED
Description | Exercise Price | Expiration Date | Number of Contracts | Notional Amount | Market Value | Premiums Paid (Received) by Fund | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
Call |
| |||||||||||||||||||||||||||
TPG RE Finance Trust, Inc. | $ | 15.00 | 1/21/22 | (500 | ) | (658,000 | ) | $ | (20,000 | ) | $ | (48,900 | ) | $ | 28,900 | |||||||||||||
Put |
| |||||||||||||||||||||||||||
Host Hotels & Resorts, Inc. | 14.00 | 10/15/21 | (500 | ) | (796,500 | ) | (15,000 | ) | (13,248 | ) | (1,752 | ) | ||||||||||||||||
Vanguard Real Estate ETF | 85.00 | 9/17/21 | (500 | ) | (5,314,500 | ) | (10,000 | ) | (53,417 | ) | 43,417 | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ | (45,000 | ) | $ | (115,565 | ) | $ | 70,565 | |||||||||||||||||||||
|
|
|
|
|
|
Notes to the Schedule of Investments:
ETF | Exchange-Traded Fund. | |
REIT | Real Estate Investment Trust. | |
(1) | Non-income producing security. | |
(2) | See options table for description of purchased options. | |
(3) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Global Real Estate Fund | ||
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Advertising | 1.2 | % | ||
Diversified REITs | 4.6 | |||
Diversified Real Estate Activities | 2.9 | |||
Health Care REITs | 2.5 | |||
Homebuilding | 4.1 | |||
Hotel & Resort REITs | 4.1 | |||
IT Consulting & Other Services | 1.5 | |||
Industrial REITs | 10.8 | |||
Internet Services & Infrastructure | 1.1 | |||
Mortgage REITs | 9.9 | |||
Office REITs | 7.9 | |||
Purchased Options | 0.4 | |||
Real Estate Development | 0.1 | |||
Real Estate Operating Companies | 7.6 | |||
Real Estate Services | 4.3 | |||
Research & Consulting Services | 1.2 | |||
Residential REITs | 9.4 | |||
Retail REITs | 2.0 | |||
Specialized REITs | 19.9 | |||
Thrifts & Mortgage Finance | 2.1 | |||
Money Market Investments | 4.9 | |||
|
| |||
Total | 102.5 | % | ||
|
|
TCW Global Real Estate Fund | ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Advertising | $ | | $ | 374,848 | $ | | $ | 374,848 | ||||||||
Diversified REITs | 979,620 | 480,740 | | 1,460,360 | ||||||||||||
Diversified Real Estate Activities | | 945,533 | | 945,533 | ||||||||||||
Health Care REITs | 795,898 | | | 795,898 | ||||||||||||
Homebuilding | 1,322,507 | | | 1,322,507 | ||||||||||||
Hotel & Resort REITs | 1,338,392 | | | 1,338,392 | ||||||||||||
IT Consulting & Other Services | 472,701 | | | 472,701 | ||||||||||||
Industrial REITs | 1,342,017 | 2,144,750 | | 3,486,767 | ||||||||||||
Internet Services & Infrastructure | 367,793 | | | 367,793 | ||||||||||||
Mortgage REITs | 3,225,023 | | | 3,225,023 | ||||||||||||
Office REITs | 2,581,194 | | | 2,581,194 | ||||||||||||
Real Estate Development | | 33,418 | | 33,418 | ||||||||||||
Real Estate Operating Companies | | 2,482,092 | | 2,482,092 | ||||||||||||
Real Estate Services | 1,395,736 | | | 1,395,736 | ||||||||||||
Research & Consulting Services | 380,544 | | | 380,544 | ||||||||||||
Residential REITs | 3,075,067 | | | 3,075,067 | ||||||||||||
Retail REITs | 638,336 | | | 638,336 | ||||||||||||
Specialized REITs | 6,476,171 | | | 6,476,171 | ||||||||||||
Thrifts & Mortgage Finance | 688,216 | | | 688,216 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 25,079,215 | 6,461,381 | | 31,540,596 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Purchased Options | 136,250 | | | 136,250 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 1,596,672 | | | 1,596,672 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 26,812,137 | $ | 6,461,381 | $ | | $ | 33,273,518 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Written Options | ||||||||||||||||
Equity Risk | $ | (45,000 | ) | $ | | $ | | $ | (45,000 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (45,000 | ) | $ | | $ | | $ | (45,000 | ) | ||||||
|
|
|
|
|
|
|
|
TCW New America Premier Equities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK99.6% of Net Assets | ||||||||
Aerospace & Defense3.6% | ||||||||
HEICO Corp. | 60,643 | $ | 8,201,966 | |||||
|
| |||||||
Application Software12.7% | ||||||||
Constellation Software, Inc. | 14,793 | 23,681,480 | ||||||
Trade Desk, Inc. (The)(1) | 60,950 | 4,992,414 | ||||||
|
| |||||||
28,673,894 | ||||||||
|
| |||||||
Building Products9.3% | ||||||||
Carrier Global Corp. | 167,008 | 9,227,192 | ||||||
Trane Technologies PLC | 57,538 | 11,715,312 | ||||||
|
| |||||||
20,942,504 | ||||||||
|
| |||||||
Data Processing & Outsourced Services3.7% | ||||||||
Visa, Inc. | 33,984 | 8,373,318 | ||||||
|
| |||||||
Electrical Components & Equipment4.9% | ||||||||
Vertiv Holdings Co. | 392,958 | 11,018,542 | ||||||
|
| |||||||
Electrical Equipment4.1% | ||||||||
AMETEK, Inc. | 66,202 | 9,205,388 | ||||||
|
| |||||||
Environmental & Facilities Services4.2% | ||||||||
Waste Connections, Inc. (Canada) | 74,704 | 9,464,250 | ||||||
|
| |||||||
Financial Exchanges & Data10.1% | ||||||||
Morningstar, Inc. | 42,920 | 10,842,880 | ||||||
MSCI, Inc. | 20,018 | 11,929,927 | ||||||
|
| |||||||
22,772,807 | ||||||||
|
| |||||||
Health Care Equipment3.1% | ||||||||
Danaher Corp. | 23,239 | 6,913,370 | ||||||
|
| |||||||
Household Products2.6% | ||||||||
Cricut, Inc.(1) | 169,544 | 5,786,537 | ||||||
|
| |||||||
Interactive Media & Services0.1% | ||||||||
VerticalScope Holdings, Inc.(1) | 6,000 | 140,201 | ||||||
Internet Services & Infrastructure9.1% | ||||||||
Dye & Durham, Ltd. | 259,972 | 9,823,270 | ||||||
Facebook, Inc.(1) | 30,083 | 10,718,573 | ||||||
|
| |||||||
20,541,843 | ||||||||
|
| |||||||
Life Sciences Tools & Services6.3% | ||||||||
Agilent Technologies, Inc. | 39,895 | 6,113,111 | ||||||
Mettler-Toledo International, Inc.(1) | 5,452 | 8,034,667 | ||||||
|
| |||||||
14,147,778 | ||||||||
|
| |||||||
Professional Services3.9% | ||||||||
Clarivate PLC(1) | 385,558 | 8,790,723 | ||||||
|
| |||||||
Research & Consulting Services9.3% | ||||||||
CoStar Group, Inc.(1) | 103,310 | 9,179,093 | ||||||
IHS Markit, Ltd. | 100,107 | 11,696,502 | ||||||
|
| |||||||
20,875,595 | ||||||||
|
| |||||||
Semiconductors2.1% | ||||||||
Broadcom, Inc. | 9,538 | 4,629,745 | ||||||
|
| |||||||
Systems Software10.5% | ||||||||
Manhattan Associates, Inc.(1) | 44,975 | 7,179,359 | ||||||
Microsoft Corp. | 57,566 | 16,401,129 | ||||||
|
| |||||||
23,580,488 | ||||||||
|
| |||||||
Total Common Stock (Cost: $148,491,913) | 224,058,949 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS0.4% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 850,956 | $ | 850,956 | |||||
|
| |||||||
Total Money Market Investments (Cost: $850,956) | 850,956 | |||||||
|
| |||||||
Total Investments (100.0%) (Cost: $149,342,869) | 224,909,905 | |||||||
|
| |||||||
Liabilities In Excess Of Other Assets (0.0%) | (12,133 | ) | ||||||
|
| |||||||
Net Assets (100.0%) | $ | 224,897,772 | ||||||
|
|
Notes to the Schedule of Investments:
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW New America Premier Equities Fund | ||
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Aerospace & Defense | 3.6 | % | ||
Application Software | 12.7 | |||
Building Products | 9.3 | |||
Data Processing & Outsourced Services | 3.7 | |||
Electrical Components & Equipment | 4.9 | |||
Electrical Equipment | 4.1 | |||
Environmental & Facilities Services | 4.2 | |||
Financial Exchanges & Data | 10.1 | |||
Health Care Equipment | 3.1 | |||
Household Products | 2.6 | |||
Interactive Media & Services | 0.1 | |||
Internet Services & Infrastructure | 9.1 | |||
Life Sciences Tools & Services | 6.3 | |||
Professional Services | 3.9 | |||
Research & Consulting Services | 9.3 | |||
Semiconductors | 2.1 | |||
Systems Software | 10.5 | |||
Money Market Investments | 0.4 | |||
|
| |||
Total | 100.0 | % | ||
|
|
TCW New America Premier Equities Fund | ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Aerospace & Defense | $ | 8,201,966 | $ | | $ | | $ | 8,201,966 | ||||||||
Application Software | 28,673,894 | | | 28,673,894 | ||||||||||||
Building Products | 20,942,504 | | | 20,942,504 | ||||||||||||
Data Processing & Outsourced Services | 8,373,318 | | | 8,373,318 | ||||||||||||
Electrical Components & Equipment | 11,018,542 | | | 11,018,542 | ||||||||||||
Electrical Equipment | 9,205,388 | | | 9,205,388 | ||||||||||||
Environmental & Facilities Services | 9,464,250 | | | 9,464,250 | ||||||||||||
Financial Exchanges & Data | 22,772,807 | | | 22,772,807 | ||||||||||||
Health Care Equipment | 6,913,370 | | | 6,913,370 | ||||||||||||
Household Products | 5,786,537 | | | 5,786,537 | ||||||||||||
Interactive Media & Services | 140,201 | | | 140,201 | ||||||||||||
Internet Services & Infrastructure | 20,541,843 | | | 20,541,843 | ||||||||||||
Life Sciences Tools & Services | 14,147,778 | | | 14,147,778 | ||||||||||||
Professional Services | 8,790,723 | | | 8,790,723 | ||||||||||||
Research & Consulting Services | 20,875,595 | | | 20,875,595 | ||||||||||||
Semiconductors | 4,629,745 | | | 4,629,745 | ||||||||||||
Systems Software | 23,580,488 | | | 23,580,488 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 224,058,949 | | | 224,058,949 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 850,956 | | | 850,956 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 224,909,905 | $ | | $ | | $ | 224,909,905 | ||||||||
|
|
|
|
|
|
|
|
TCW Relative Value Dividend Appreciation Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK99.8% of Net Assets | ||||||||
Aerospace & Defense1.3% | ||||||||
Textron, Inc. | 53,599 | $ | 3,698,867 | |||||
|
| |||||||
Air Freight & Logistics3.7% | ||||||||
United Parcel Service, Inc.Class B | 53,683 | 10,272,779 | ||||||
|
| |||||||
Auto Components1.3% | ||||||||
BorgWarner, Inc. | 72,928 | 3,572,014 | ||||||
|
| |||||||
Banks8.0% | ||||||||
Citigroup, Inc. | 63,109 | 4,267,431 | ||||||
JPMorgan Chase & Co. | 68,031 | 10,325,745 | ||||||
Wells Fargo & Co. | 139,835 | 6,424,020 | ||||||
Zions Bancorp | 20,470 | 1,067,510 | ||||||
|
| |||||||
22,084,706 | ||||||||
|
| |||||||
Beverages2.5% | ||||||||
PepsiCo, Inc. | 43,511 | 6,829,052 | ||||||
|
| |||||||
Biotechnology4.8% | ||||||||
AbbVie, Inc. | 50,147 | 5,832,096 | ||||||
Gilead Sciences, Inc. | 108,565 | 7,413,904 | ||||||
|
| |||||||
13,246,000 | ||||||||
|
| |||||||
Building Products4.7% | ||||||||
Johnson Controls International PLC (Ireland) | 180,689 | 12,904,808 | ||||||
|
| |||||||
Capital Markets8.8% | ||||||||
Ameriprise Financial, Inc. | 26,651 | 6,864,232 | ||||||
Blackstone Group, Inc. (The) | 29,200 | 3,365,884 | ||||||
Intercontinental Exchange, Inc. | 62,209 | 7,454,504 | ||||||
Morgan Stanley | 67,600 | 6,488,248 | ||||||
|
| |||||||
24,172,868 | ||||||||
|
| |||||||
Chemicals4.0% | ||||||||
Corteva, Inc. | 74,444 | 3,184,714 | ||||||
DuPont de Nemours, Inc. | 64,548 | 4,844,327 | ||||||
International Flavors & Fragrances, Inc. | 20,240 | 3,048,954 | ||||||
|
| |||||||
11,077,995 | ||||||||
|
| |||||||
Diversified Telecommunication Services2.4% | ||||||||
AT&T, Inc. | 237,932 | 6,673,993 | ||||||
|
| |||||||
Electrical Equipment2.1% | ||||||||
nVent Electric PLC (Ireland) | 180,912 | 5,718,628 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components1.6% | ||||||||
Corning, Inc. | 106,462 | 4,456,499 | ||||||
|
| |||||||
Energy Equipment & Services2.4% | ||||||||
Baker Hughes Co. | 308,603 | 6,554,728 | ||||||
|
| |||||||
Equity Real Estate2.3% | ||||||||
Cousins Properties, Inc. | 69,155 | 2,746,836 | ||||||
Simon Property Group, Inc. | 28,534 | 3,610,122 | ||||||
|
| |||||||
6,356,958 | ||||||||
|
| |||||||
Food Products1.0% | ||||||||
Conagra Brands, Inc. | 79,800 | 2,672,502 | ||||||
|
| |||||||
Health Care Equipment & Supplies2.1% | ||||||||
Medtronic PLC (Ireland) | 44,328 | 5,820,710 | ||||||
|
| |||||||
Health Care Providers & Services4.5% | ||||||||
Anthem, Inc. | 12,463 | 4,785,917 | ||||||
McKesson Corp. | 38,015 | 7,748,597 | ||||||
|
| |||||||
12,534,514 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure0.5% | ||||||||
Darden Restaurants, Inc. | 9,900 | 1,444,212 | ||||||
|
| |||||||
Household Durables4.4% | ||||||||
Lennar Corp. | 92,381 | 9,713,862 | ||||||
Whirlpool Corp. | 10,404 | 2,304,902 | ||||||
|
| |||||||
12,018,764 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers2.9% | ||||||||
AES Corp. (The) | 340,765 | 8,076,131 | ||||||
|
| |||||||
Industrial Conglomerates4.6% | ||||||||
Carlisle Cos., Inc. | 17,780 | 3,595,827 | ||||||
General Electric Co. | 702,979 | 9,103,578 | ||||||
|
| |||||||
12,699,405 | ||||||||
|
| |||||||
Insurance3.6% | ||||||||
MetLife, Inc. | 173,655 | 10,019,894 | ||||||
|
| |||||||
IT Services2.8% | ||||||||
International Business Machines Corp. | 55,347 | 7,801,713 | ||||||
|
| |||||||
Media4.5% | ||||||||
Comcast Corp. | 123,934 | 7,291,037 | ||||||
Fox Corp. | 142,324 | 5,075,274 | ||||||
|
| |||||||
12,366,311 | ||||||||
|
| |||||||
Metals & Mining1.3% | ||||||||
Freeport-McMoRan, Inc. | 95,773 | 3,648,951 | ||||||
|
| |||||||
Multi-Utilities1.1% | ||||||||
Sempra Energy | 22,423 | 2,929,565 | ||||||
|
| |||||||
Multiline Retail2.7% | ||||||||
Target Corp. | 28,100 | 7,335,505 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels3.7% | ||||||||
Chevron Corp. | 76,740 | 7,812,899 | ||||||
Exxon Mobil Corp. | 39,684 | 2,284,608 | ||||||
|
| |||||||
10,097,507 | ||||||||
|
| |||||||
Pharmaceuticals3.3% | ||||||||
Johnson & Johnson | 15,322 | 2,638,448 | ||||||
Novartis AG (SP ADR) (Switzerland) | 70,200 | 6,485,778 | ||||||
|
| |||||||
9,124,226 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment2.8% | ||||||||
Broadcom, Inc. | 16,182 | 7,854,743 | ||||||
|
| |||||||
Specialty Retail1.1% | ||||||||
Dicks Sporting Goods, Inc. | 28,935 | 3,013,291 | ||||||
|
| |||||||
Technology Hardware, Storage & Peripherals3.0% | ||||||||
HP, Inc. | 112,813 | 3,256,912 | ||||||
Seagate Technology Holdings PLC | 58,199 | 5,115,692 | ||||||
|
| |||||||
8,372,604 | ||||||||
|
| |||||||
Total Common Stock (Cost: $180,624,135) | 275,450,443 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS0.1% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(1) | 321,228 | 321,228 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $321,228) | 321,228 | |||||||
|
| |||||||
Total Investments (99.9%) (Cost: $180,945,363) | 275,771,671 | |||||||
Excess Of Other Assets Over Liabilities (0.1%) | 366,350 | |||||||
|
| |||||||
Net Assets (100.0%) | $ | 276,138,021 | ||||||
|
|
TCW Relative Value Dividend Appreciation Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Notes to the Schedule of Investments:
SP ADR | Sponsored American Depositary Receipt. ADRs are receipts, typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. Sponsored ADRs are ADRs issued with the cooperation of the foreign corporation. | |
(1) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Relative Value Dividend Appreciation Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Aerospace & Defense | 1.3 | % | ||
Air Freight & Logistics | 3.7 | |||
Auto Components | 1.3 | |||
Banks | 8.0 | |||
Beverages | 2.5 | |||
Biotechnology | 4.8 | |||
Building Products | 4.7 | |||
Capital Markets | 8.8 | |||
Chemicals | 4.0 | |||
Diversified Telecommunication Services | 2.4 | |||
Electrical Equipment | 2.1 | |||
Electronic Equipment, Instruments & Components | 1.6 | |||
Energy Equipment & Services | 2.4 | |||
Equity Real Estate | 2.3 | |||
Food Products | 1.0 | |||
Health Care Equipment & Supplies | 2.1 | |||
Health Care Providers & Services | 4.5 | |||
Hotels, Restaurants & Leisure | 0.5 | |||
Household Durables | 4.4 | |||
Independent Power and Renewable Electricity Producers | 2.9 | |||
Industrial Conglomerates | 4.6 | |||
Insurance | 3.6 | |||
IT Services | 2.8 | |||
Media | 4.5 | |||
Metals & Mining | 1.3 | |||
Multi-Utilities | 1.1 | |||
Multiline Retail | 2.7 | |||
Oil, Gas & Consumable Fuels | 3.7 | |||
Pharmaceuticals | 3.3 | |||
Semiconductors & Semiconductor Equipment | 2.8 | |||
Specialty Retail | 1.1 | |||
Technology Hardware, Storage & Peripherals | 3.0 | |||
Money Market Investments | 0.1 | |||
|
| |||
Total | 99.9 | % | ||
|
|
TCW Relative Value Dividend Appreciation Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Aerospace & Defense | $ | 3,698,867 | $ | | $ | | $ | 3,698,867 | ||||||||
Air Freight & Logistics | 10,272,779 | | | 10,272,779 | ||||||||||||
Auto Components | 3,572,014 | | | 3,572,014 | ||||||||||||
Banks | 22,084,706 | | | 22,084,706 | ||||||||||||
Beverages | 6,829,052 | | | 6,829,052 | ||||||||||||
Biotechnology | 13,246,000 | | | 13,246,000 | ||||||||||||
Building Products | 12,904,808 | | | 12,904,808 | ||||||||||||
Capital Markets | 24,172,868 | | | 24,172,868 | ||||||||||||
Chemicals | 11,077,995 | | | 11,077,995 | ||||||||||||
Diversified Telecommunication Services | 6,673,993 | | | 6,673,993 | ||||||||||||
Electrical Equipment | 5,718,628 | | | 5,718,628 | ||||||||||||
Electronic Equipment, Instruments & Components | 4,456,499 | | | 4,456,499 | ||||||||||||
Energy Equipment & Services | 6,554,728 | | | 6,554,728 | ||||||||||||
Equity Real Estate | 6,356,958 | | | 6,356,958 | ||||||||||||
Food Products | 2,672,502 | | | 2,672,502 | ||||||||||||
Health Care Equipment & Supplies | 5,820,710 | | | 5,820,710 | ||||||||||||
Health Care Providers & Services | 12,534,514 | | | 12,534,514 | ||||||||||||
Hotels, Restaurants & Leisure | 1,444,212 | | | 1,444,212 | ||||||||||||
Household Durables | 12,018,764 | | | 12,018,764 | ||||||||||||
Independent Power and Renewable Electricity Producers | 8,076,131 | | | 8,076,131 | ||||||||||||
Industrial Conglomerates | 12,699,405 | | | 12,699,405 | ||||||||||||
Insurance | 10,019,894 | | | 10,019,894 | ||||||||||||
IT Services | 7,801,713 | | | 7,801,713 | ||||||||||||
Media | 12,366,311 | | | 12,366,311 | ||||||||||||
Metals & Mining | 3,648,951 | | | 3,648,951 | ||||||||||||
Multi-Utilities | 2,929,565 | | | 2,929,565 | ||||||||||||
Multiline Retail | 7,335,505 | | | 7,335,505 | ||||||||||||
Oil, Gas & Consumable Fuels | 10,097,507 | | | 10,097,507 | ||||||||||||
Pharmaceuticals | 9,124,226 | | | 9,124,226 | ||||||||||||
Semiconductors & Semiconductor Equipment | 7,854,743 | | | 7,854,743 | ||||||||||||
Specialty Retail | 3,013,291 | | | 3,013,291 | ||||||||||||
Technology Hardware, Storage & Peripherals | 8,372,604 | | | 8,372,604 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 275,450,443 | | | 275,450,443 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 321,228 | | | 321,228 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 275,771,671 | $ | | $ | | $ | 275,771,671 | ||||||||
|
|
|
|
|
|
|
|
TCW Relative Value Large Cap Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK98.8% of Net Assets |
| |||||||
Aerospace & Defense3.5% | ||||||||
L3Harris Technologies, Inc. | 4,972 | $ | 1,127,351 | |||||
Textron, Inc. | 51,109 | 3,527,032 | ||||||
|
| |||||||
4,654,383 | ||||||||
|
| |||||||
Air Freight & Logistics2.6% | ||||||||
United Parcel Service, Inc.Class B | 18,165 | 3,476,054 | ||||||
|
| |||||||
Banks7.4% | ||||||||
Citigroup, Inc. | 49,567 | 3,351,721 | ||||||
JPMorgan Chase & Co. | 31,071 | 4,715,956 | ||||||
Signature Bank | 7,125 | 1,617,161 | ||||||
|
| |||||||
9,684,838 | ||||||||
|
| |||||||
Beverages1.7% | ||||||||
PepsiCo, Inc. | 14,615 | 2,293,824 | ||||||
|
| |||||||
Biotechnology3.2% | ||||||||
AbbVie, Inc. | 19,309 | 2,245,637 | ||||||
Gilead Sciences, Inc. | 27,729 | 1,893,613 | ||||||
|
| |||||||
4,139,250 | ||||||||
|
| |||||||
Building Products4.0% | ||||||||
Johnson Controls International PLC (Ireland) | 73,060 | 5,217,945 | ||||||
|
| |||||||
Capital Markets9.0% | ||||||||
Ameriprise Financial, Inc. | 10,918 | 2,812,040 | ||||||
Blackstone Group, Inc. (The) | 19,200 | 2,213,184 | ||||||
Intercontinental Exchange, Inc. | 34,403 | 4,122,512 | ||||||
Morgan Stanley | 27,000 | 2,591,460 | ||||||
|
| |||||||
11,739,196 | ||||||||
|
| |||||||
Chemicals2.4% | ||||||||
DuPont de Nemours, Inc. | 24,854 | 1,865,293 | ||||||
International Flavors & Fragrances, Inc. | 8,313 | 1,252,270 | ||||||
|
| |||||||
3,117,563 | ||||||||
|
| |||||||
Diversified Telecommunication Services2.0% | ||||||||
AT&T, Inc. | 92,897 | 2,605,761 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components3.5% | ||||||||
Corning, Inc. | 54,699 | 2,289,700 | ||||||
Flex Ltd.(1) | 124,971 | 2,245,729 | ||||||
|
| |||||||
4,535,429 | ||||||||
|
| |||||||
Energy Equipment & Services1.7% | ||||||||
Baker Hughes Co. | 102,740 | 2,182,198 | ||||||
|
| |||||||
Equity Real Estate1.0% | ||||||||
Weyerhaeuser Co. | 40,448 | 1,364,311 | ||||||
|
| |||||||
Food Products1.4% | ||||||||
Conagra Brands, Inc. | 53,258 | 1,783,610 | ||||||
|
| |||||||
Health Care Equipment & Supplies2.9% | ||||||||
Medtronic PLC (Ireland) | 17,900 | 2,350,449 | ||||||
Zimmer Biomet Holdings, Inc. | 8,844 | 1,445,287 | ||||||
|
| |||||||
3,795,736 | ||||||||
|
| |||||||
Health Care Providers & Services7.7% | ||||||||
Centene Corp.(1) | 48,180 | 3,305,630 | ||||||
McKesson Corp. | 14,010 | 2,855,658 | ||||||
Molina Healthcare, Inc.(1) | 14,438 | 3,941,719 | ||||||
|
| |||||||
10,103,007 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure1.7% | ||||||||
Darden Restaurants, Inc. | 15,680 | 2,287,398 | ||||||
|
| |||||||
Household Durables4.0% | ||||||||
Lennar Corp. | 50,179 | 5,276,322 | ||||||
|
| |||||||
Independent Power and Renewable Electricity Producers2.3% | ||||||||
AES Corp. (The) | 128,800 | 3,052,560 | ||||||
|
| |||||||
Industrial Conglomerates2.7% | ||||||||
General Electric Co. | 274,136 | 3,550,061 | ||||||
|
| |||||||
Insurance2.4% | ||||||||
MetLife, Inc. | 54,413 | 3,139,630 | ||||||
|
| |||||||
IT Services3.9% | ||||||||
Fiserv, Inc.(1) | 20,744 | 2,387,842 | ||||||
International Business Machines Corp. | 19,157 | 2,700,371 | ||||||
|
| |||||||
5,088,213 | ||||||||
|
| |||||||
Media8.5% | ||||||||
Comcast Corp. | 80,248 | 4,720,990 | ||||||
Discovery, Inc.(1) | 65,554 | 1,901,721 | ||||||
Fox Corp. | 53,252 | 1,898,966 | ||||||
ViacomCBS, Inc.Class B | 62,375 | 2,553,009 | ||||||
|
| |||||||
11,074,686 | ||||||||
|
| |||||||
Metals & Mining2.9% | ||||||||
Freeport-McMoRan, Inc. | 99,088 | 3,775,253 | ||||||
|
| |||||||
Multi-Utilities1.0% | ||||||||
Sempra Energy | 10,308 | 1,346,740 | ||||||
|
| |||||||
Multiline Retail2.8% | ||||||||
Target Corp. | 13,854 | 3,616,587 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels2.7% | ||||||||
Chevron Corp. | 23,900 | 2,433,259 | ||||||
Exxon Mobil Corp. | 19,608 | 1,128,833 | ||||||
|
| |||||||
3,562,092 | ||||||||
|
| |||||||
Real Estate Management & Development1.4% |
| |||||||
Jones Lang LaSalle, Inc.(1) | 8,297 | 1,846,663 | ||||||
|
| |||||||
Semiconductors & Semiconductor Equipment5.9% | ||||||||
Broadcom, Inc. | 6,394 | 3,103,648 | ||||||
Micron Technology, Inc.(1) | 16,500 | 1,280,070 | ||||||
ON Semiconductor Corp.(1) | 84,510 | 3,300,960 | ||||||
|
| |||||||
7,684,678 | ||||||||
|
| |||||||
Specialty Retail1.4% | ||||||||
Dicks Sporting Goods, Inc. | 14,422 | 1,501,907 | ||||||
Gap, Inc. (The) | 13,500 | 393,795 | ||||||
|
| |||||||
1,895,702 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals1.2% | ||||||||
HP, Inc. | 53,900 | 1,556,093 | ||||||
|
| |||||||
Total Common Stock (Cost: $72,537,662) | 129,445,783 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS0.7% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 884,466 | 884,466 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $884,466) |
| 884,466 | ||||||
|
| |||||||
Total Investments (99.5%) (Cost: $73,422,128) |
| 130,330,249 | ||||||
Excess Of Other Assets Over Liabilities (0.5%) |
| 648,705 | ||||||
|
| |||||||
Net Assets (100.0%) |
| $ | 130,978,954 | |||||
|
| |||||||
Notes to the Schedule of Investments: | ||
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Relative Value Large Cap Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Aerospace & Defense | 3.5 | % | ||
Air Freight & Logistics | 2.6 | |||
Banks | 7.4 | |||
Beverages | 1.7 | |||
Biotechnology | 3.2 | |||
Building Products | 4.0 | |||
Capital Markets | 9.0 | |||
Chemicals | 2.4 | |||
Diversified Telecommunication Services | 2.0 | |||
Electronic Equipment, Instruments & Components | 3.5 | |||
Energy Equipment & Services | 1.7 | |||
Equity Real Estate | 1.0 | |||
Food Products | 1.4 | |||
Health Care Equipment & Supplies | 2.9 | |||
Health Care Providers & Services | 7.7 | |||
Hotels, Restaurants & Leisure | 1.7 | |||
Household Durables | 4.0 | |||
Independent Power and Renewable Electricity Producers | 2.3 | |||
Industrial Conglomerates | 2.7 | |||
Insurance | 2.4 | |||
IT Services | 3.9 | |||
Media | 8.5 | |||
Metals & Mining | 2.9 | |||
Multi-Utilities | 1.0 | |||
Multiline Retail | 2.8 | |||
Oil, Gas & Consumable Fuels | 2.7 | |||
Real Estate Management & Development | 1.4 | |||
Semiconductors & Semiconductor Equipment | 5.9 | |||
Specialty Retail | 1.4 | |||
Technology Hardware, Storage & Peripherals | 1.2 | |||
Money Market Investments | 0.7 | |||
|
| |||
Total | 99.5 | % | ||
|
|
TCW Relative Value Large Cap Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Aerospace & Defense | $ | 4,654,383 | $ | | $ | | $ | 4,654,383 | ||||||||
Air Freight & Logistics | 3,476,054 | | | 3,476,054 | ||||||||||||
Banks | 9,684,838 | | | 9,684,838 | ||||||||||||
Beverages | 2,293,824 | | | 2,293,824 | ||||||||||||
Biotechnology | 4,139,250 | | | 4,139,250 | ||||||||||||
Building Products | 5,217,945 | | | 5,217,945 | ||||||||||||
Capital Markets | 11,739,196 | | | 11,739,196 | ||||||||||||
Chemicals | 3,117,563 | | | 3,117,563 | ||||||||||||
Diversified Telecommunication Services | 2,605,761 | | | 2,605,761 | ||||||||||||
Electronic Equipment, Instruments & Components | 4,535,429 | | | 4,535,429 | ||||||||||||
Energy Equipment & Services | 2,182,198 | | | 2,182,198 | ||||||||||||
Equity Real Estate | 1,364,311 | | | 1,364,311 | ||||||||||||
Food Products | 1,783,610 | | | 1,783,610 | ||||||||||||
Health Care Equipment & Supplies | 3,795,736 | | | 3,795,736 | ||||||||||||
Health Care Providers & Services | 10,103,007 | | | 10,103,007 | ||||||||||||
Hotels, Restaurants & Leisure | 2,287,398 | | | 2,287,398 | ||||||||||||
Household Durables | 5,276,322 | | | 5,276,322 | ||||||||||||
Independent Power and Renewable Electricity Producers | 3,052,560 | | | 3,052,560 | ||||||||||||
Industrial Conglomerates | 3,550,061 | | | 3,550,061 | ||||||||||||
Insurance | 3,139,630 | | | 3,139,630 | ||||||||||||
IT Services | 5,088,213 | | | 5,088,213 | ||||||||||||
Media | 11,074,686 | | | 11,074,686 | ||||||||||||
Metals & Mining | 3,775,253 | | | 3,775,253 | ||||||||||||
Multi-Utilities | 1,346,740 | | | 1,346,740 | ||||||||||||
Multiline Retail | 3,616,587 | | | 3,616,587 | ||||||||||||
Oil, Gas & Consumable Fuels | 3,562,092 | | | 3,562,092 | ||||||||||||
Real Estate Management & Development | 1,846,663 | | | 1,846,663 | ||||||||||||
Semiconductors & Semiconductor Equipment | 7,684,678 | | | 7,684,678 | ||||||||||||
Specialty Retail | 1,895,702 | | | 1,895,702 | ||||||||||||
Technology Hardware, Storage & Peripherals | 1,556,093 | | | 1,556,093 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 129,445,783 | | | 129,445,783 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 884,466 | | | 884,466 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 130,330,249 | $ | | $ | | $ | 130,330,249 | ||||||||
|
|
|
|
|
|
|
|
TCW Relative Value Mid Cap Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK99.8% of Net Assets |
| |||||||
Aerospace & Defense2.9% |
| |||||||
Textron, Inc. | 33,188 | $ | 2,290,304 | |||||
|
| |||||||
Airlines1.2% | ||||||||
United Airlines Holdings, Inc.(1) | 19,747 | 922,580 | ||||||
|
| |||||||
Auto Components0.6% | ||||||||
BorgWarner, Inc. | 9,285 | 454,779 | ||||||
|
| |||||||
Banks10.1% | ||||||||
First Citizens BancShares, Inc. | 1,199 | 938,325 | ||||||
KeyCorp | 132,442 | 2,603,810 | ||||||
Popular, Inc. | 43,565 | 3,169,789 | ||||||
Signature Bank | 4,912 | 1,114,877 | ||||||
Zions Bancorp | 5,162 | 269,198 | ||||||
|
| |||||||
8,095,999 | ||||||||
|
| |||||||
Capital Markets3.3% | ||||||||
Apollo Global Management, Inc. | 18,044 | 1,062,070 | ||||||
Evercore, Inc. | 11,880 | 1,570,536 | ||||||
|
| |||||||
2,632,606 | ||||||||
|
| |||||||
Chemicals3.7% | ||||||||
Corteva, Inc. | 31,498 | 1,347,484 | ||||||
International Flavors & Fragrances, Inc. | 10,611 | 1,598,441 | ||||||
|
| |||||||
2,945,925 | ||||||||
|
| |||||||
Communications Equipment1.9% | ||||||||
CommScope Holding Co., Inc.(1) | 70,045 | 1,482,152 | ||||||
|
| |||||||
Construction & Engineering1.5% | ||||||||
Arcosa, Inc. | 21,571 | 1,181,228 | ||||||
|
| |||||||
Consumer Finance1.8% | ||||||||
OneMain Holdings, Inc. | 24,155 | 1,473,455 | ||||||
|
| |||||||
Diversified Financial Services0.5% | ||||||||
Equitable Holdings, Inc. | 13,400 | 413,658 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components4.9% | ||||||||
Avnet, Inc. | 26,773 | 1,106,260 | ||||||
Flex Ltd.(1) | 104,050 | 1,869,779 | ||||||
TTM Technologies, Inc.(1) | 69,155 | 967,478 | ||||||
|
| |||||||
3,943,517 | ||||||||
|
| |||||||
Energy Equipment & Services2.3% | ||||||||
Baker Hughes Co. | 52,300 | 1,110,852 | ||||||
NOV, Inc.(1) | 53,100 | 733,311 | ||||||
|
| |||||||
1,844,163 | ||||||||
|
| |||||||
Equity Real Estate2.5% |
| |||||||
Cousins Properties, Inc. | 23,191 | 921,147 | ||||||
Innovative Industrial Properties, Inc. | 4,873 | 1,047,646 | ||||||
|
| |||||||
1,968,793 | ||||||||
|
| |||||||
Food Products1.6% | ||||||||
Conagra Brands, Inc. | 22,943 | 768,361 | ||||||
TreeHouse Foods, Inc.(1) | 10,786 | 478,898 | ||||||
|
| |||||||
1,247,259 | ||||||||
|
| |||||||
Health Care Equipment & Supplies1.6% | ||||||||
Envista Holdings Corp.(1) | 8,190 | 352,825 | ||||||
Zimmer Biomet Holdings, Inc. | 5,696 | 930,841 | ||||||
|
| |||||||
1,283,666 | ||||||||
|
| |||||||
Health Care Providers & Services8.5% | ||||||||
Acadia Healthcare Co., Inc.(1) | 24,700 | 1,524,484 | ||||||
Centene Corp.(1) | 26,917 | 1,846,776 | ||||||
Henry Schein, Inc.(1) | 10,295 | 825,144 | ||||||
Molina Healthcare, Inc.(1) | 9,398 | 2,565,748 | ||||||
|
| |||||||
6,762,152 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure1.6% | ||||||||
Darden Restaurants, Inc. | 9,001 | 1,313,066 | ||||||
|
| |||||||
Household Durables9.7% | ||||||||
DR Horton, Inc. | 15,804 | 1,508,176 | ||||||
KB Home | 35,960 | 1,526,142 | ||||||
Lennar Corp. | 21,777 | 2,289,852 | ||||||
Toll Brothers, Inc. | 31,368 | 1,859,181 | ||||||
Whirlpool Corp. | 2,325 | 515,081 | ||||||
|
| |||||||
7,698,432 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers2.7% | ||||||||
AES Corp. (The) | 89,400 | 2,118,780 | ||||||
|
| |||||||
Industrial Conglomerates1.3% | ||||||||
Carlisle Cos., Inc. | 5,154 | 1,042,345 | ||||||
|
| |||||||
Insurance3.4% | ||||||||
Arch Capital Group, Ltd.(1) | 32,150 | 1,253,850 | ||||||
Assured Guaranty, Ltd. | 14,125 | 675,316 | ||||||
Axis Capital Holdings, Ltd. | 15,937 | 810,715 | ||||||
|
| |||||||
2,739,881 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail1.6% | ||||||||
eBay, Inc. | 18,896 | 1,288,896 | ||||||
|
| |||||||
IT Services1.3% | ||||||||
DXC Technology Co.(1) | 25,771 | 1,030,325 | ||||||
|
| |||||||
Machinery8.8% | ||||||||
Dover Corp. | 10,420 | 1,741,390 | ||||||
Manitowoc Co., Inc. (The)(1) | 87,267 | 2,020,231 | ||||||
SPX FLOW, Inc. | 16,005 | 1,314,811 | ||||||
Terex Corp. | 14,408 | 690,431 | ||||||
Westinghouse Air Brake Technologies Corp. | 14,716 | 1,248,947 | ||||||
|
| |||||||
7,015,810 | ||||||||
|
| |||||||
Marine1.7% | ||||||||
Kirby Corp.(1) | 24,020 | 1,390,998 | ||||||
|
| |||||||
Media2.6% | ||||||||
Discovery, Inc.(1) | 30,835 | 894,523 | ||||||
ViacomCBS, Inc.Class B | 28,319 | 1,159,097 | ||||||
|
| |||||||
2,053,620 | ||||||||
|
| |||||||
Metals & Mining2.6% | ||||||||
Freeport-McMoRan, Inc. | 53,575 | 2,041,207 | ||||||
|
| |||||||
Multi-Utilities1.0% | ||||||||
Sempra Energy | 6,141 | 802,322 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels1.0% | ||||||||
Marathon Petroleum Corp. | 14,548 | 803,341 | ||||||
|
| |||||||
Personal Products0.7% | ||||||||
Coty, Inc.(1) | 68,193 | 595,325 | ||||||
|
| |||||||
Pharmaceuticals2.2% | ||||||||
Elanco Animal Health, Inc.(1) | 32,786 | 1,195,705 | ||||||
Perrigo Co. PLC | 12,300 | 590,769 | ||||||
|
| |||||||
1,786,474 | ||||||||
|
| |||||||
Professional Services2.2% | ||||||||
Jacobs Engineering Group, Inc. | 12,810 | 1,732,553 | ||||||
|
|
TCW Relative Value Mid Cap Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
Real Estate Management & Development1.5% | ||||||||
Jones Lang LaSalle, Inc.(1) | 5,433 | $ | 1,209,223 | |||||
|
| |||||||
Semiconductors & Semiconductor Equipment0.5% | ||||||||
Maxim Integrated Products, Inc. | 4,057 | 405,335 | ||||||
|
| |||||||
Specialty Retail4.5% | ||||||||
Bed Bath & Beyond, Inc.(1) | 16,089 | 459,180 | ||||||
Dicks Sporting Goods, Inc. | 8,297 | 864,050 | ||||||
Guess?, Inc. | 50,260 | 1,121,803 | ||||||
Urban Outfitters, Inc.(1) | 6,900 | 256,542 | ||||||
Williams-Sonoma, Inc. | 5,801 | 880,012 | ||||||
|
| |||||||
3,581,587 | ||||||||
|
| |||||||
Total Common Stock (Cost: $46,151,977) |
| 79,591,756 | ||||||
|
| |||||||
MONEY MARKET INVESTMENTS0.2% |
| |||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 118,948 | 118,948 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $118,948) |
| 118,948 | ||||||
Total Investments (100.0%) (Cost: $46,270,925) |
| 79,710,704 | ||||||
|
| |||||||
Excess Of Other Assets Over Liabilities (0.0%) |
| 1,730 | ||||||
|
| |||||||
Net Assets (100.0%) | $ | 79,712,434 | ||||||
|
|
Notes to the Schedule of Investments: | ||
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Relative Value Mid Cap Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Aerospace & Defense | 2.9 | % | ||
Airlines | 1.2 | |||
Auto Components | 0.6 | |||
Banks | 10.1 | |||
Capital Markets | 3.3 | |||
Chemicals | 3.7 | |||
Communications Equipment | 1.9 | |||
Construction & Engineering | 1.5 | |||
Consumer Finance | 1.8 | |||
Diversified Financial Services | 0.5 | |||
Electronic Equipment, Instruments & Components | 4.9 | |||
Energy Equipment & Services | 2.3 | |||
Equity Real Estate | 2.5 | |||
Food Products | 1.6 | |||
Health Care Equipment & Supplies | 1.6 | |||
Health Care Providers & Services | 8.5 | |||
Hotels, Restaurants & Leisure | 1.6 | |||
Household Durables | 9.7 | |||
Independent Power and Renewable Electricity Producers | 2.7 | |||
Industrial Conglomerates | 1.3 | |||
Insurance | 3.4 | |||
Internet & Direct Marketing Retail | 1.6 | |||
IT Services | 1.3 | |||
Machinery | 8.8 | |||
Marine | 1.7 | |||
Media | 2.6 | |||
Metals & Mining | 2.6 | |||
Multi-Utilities | 1.0 | |||
Oil, Gas & Consumable Fuels | 1.0 | |||
Personal Products | 0.7 | |||
Pharmaceuticals | 2.2 | |||
Professional Services | 2.2 | |||
Real Estate Management & Development | 1.5 | |||
Semiconductors & Semiconductor Equipment | 0.5 | |||
Specialty Retail | 4.5 | |||
Money Market Investments | 0.2 | |||
|
| |||
Total | 100.0 | % | ||
|
|
TCW Relative Value Mid Cap Fund
| ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Aerospace & Defense | $ | 2,290,304 | $ | | $ | | $ | 2,290,304 | ||||||||
Airlines | 922,580 | | | 922,580 | ||||||||||||
Auto Components | 454,779 | | | 454,779 | ||||||||||||
Banks | 8,095,999 | | | 8,095,999 | ||||||||||||
Capital Markets | 2,632,606 | | | 2,632,606 | ||||||||||||
Chemicals | 2,945,925 | | | 2,945,925 | ||||||||||||
Communications Equipment | 1,482,152 | | | 1,482,152 | ||||||||||||
Construction & Engineering | 1,181,228 | | | 1,181,228 | ||||||||||||
Consumer Finance | 1,473,455 | | | 1,473,455 | ||||||||||||
Diversified Financial Services | 413,658 | | | 413,658 | ||||||||||||
Electronic Equipment, Instruments & Components | 3,943,517 | | | 3,943,517 | ||||||||||||
Energy Equipment & Services | 1,844,163 | | | 1,844,163 | ||||||||||||
Equity Real Estate | 1,968,793 | | | 1,968,793 | ||||||||||||
Food Products | 1,247,259 | | | 1,247,259 | ||||||||||||
Health Care Equipment & Supplies | 1,283,666 | | | 1,283,666 | ||||||||||||
Health Care Providers & Services | 6,762,152 | | | 6,762,152 | ||||||||||||
Hotels, Restaurants & Leisure | 1,313,066 | | | 1,313,066 | ||||||||||||
Household Durables | 7,698,432 | | | 7,698,432 | ||||||||||||
Independent Power and Renewable Electricity Producers | 2,118,780 | | | 2,118,780 | ||||||||||||
Industrial Conglomerates | 1,042,345 | | | 1,042,345 | ||||||||||||
Insurance | 2,739,881 | | | 2,739,881 | ||||||||||||
Internet & Direct Marketing Retail | 1,288,896 | | | 1,288,896 | ||||||||||||
IT Services | 1,030,325 | | | 1,030,325 | ||||||||||||
Machinery | 7,015,810 | | | 7,015,810 | ||||||||||||
Marine | 1,390,998 | | | 1,390,998 | ||||||||||||
Media | 2,053,620 | | | 2,053,620 | ||||||||||||
Metals & Mining | 2,041,207 | | | 2,041,207 | ||||||||||||
Multi-Utilities | 802,322 | | | 802,322 | ||||||||||||
Oil, Gas & Consumable Fuels | 803,341 | | | 803,341 | ||||||||||||
Personal Products | 595,325 | | | 595,325 | ||||||||||||
Pharmaceuticals | 1,786,474 | | | 1,786,474 | ||||||||||||
Professional Services | 1,732,553 | | | 1,732,553 | ||||||||||||
Real Estate Management & Development | 1,209,223 | | | 1,209,223 | ||||||||||||
Semiconductors & Semiconductor Equipment | 405,335 | | | 405,335 | ||||||||||||
Specialty Retail | 3,581,587 | | | 3,581,587 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 79,591,756 | | | 79,591,756 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 118,948 | | | 118,948 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 79,710,704 | $ | | $ | | $ | 79,710,704 | ||||||||
|
|
|
|
|
|
|
|
TCW Select Equities Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||
COMMON STOCK98.1% of Net Assets |
| |||||||
Capital Markets3.2% |
| |||||||
Charles Schwab Corp. (The) | 254,568 | $ | 17,297,896 | |||||
S&P Global, Inc. | 32,652 | 13,998,565 | ||||||
|
| |||||||
31,296,461 | ||||||||
|
| |||||||
Commercial Services & Supplies1.6% | ||||||||
Waste Connections, Inc. (Canada) | 119,932 | 15,194,185 | ||||||
|
| |||||||
Entertainment2.0% | ||||||||
Netflix, Inc.(1) | 38,218 | 19,780,490 | ||||||
|
| |||||||
Equity Real Estate5.7% | ||||||||
American Tower Corp. | 135,207 | 38,236,539 | ||||||
Equinix, Inc. | 19,809 | 16,251,502 | ||||||
|
| |||||||
54,488,041 | ||||||||
|
| |||||||
Food & Staples Retailing2.2% | ||||||||
Costco Wholesale Corp. | 48,537 | 20,857,320 | ||||||
|
| |||||||
Health Care Equipment & Supplies7.5% | ||||||||
Align Technology, Inc.(1) | 48,273 | 33,588,354 | ||||||
Boston Scientific Corp.(1) | 374,479 | 17,076,242 | ||||||
DexCom, Inc.(1) | 42,457 | 21,887,008 | ||||||
|
| |||||||
72,551,604 | ||||||||
|
| |||||||
Interactive Media & Services11.9% | ||||||||
Alphabet, Inc.Class C(1) | 24,193 | 65,428,033 | ||||||
Facebook, Inc.(1) | 137,774 | 49,088,876 | ||||||
|
| |||||||
114,516,909 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail6.3% | ||||||||
Amazon.com, Inc.(1) | 18,265 | 60,778,432 | ||||||
|
| |||||||
IT Services15.3% | ||||||||
Mastercard, Inc. | 71,555 | 27,615,937 | ||||||
PayPal Holdings, Inc.(1) | 184,294 | 50,778,526 | ||||||
Snowflake, Inc.(1) | 40,394 | 10,733,493 | ||||||
Twilio, Inc.(1) | 39,571 | 14,783,330 | ||||||
Visa, Inc. | 174,569 | 43,012,056 | ||||||
|
| |||||||
146,923,342 | ||||||||
|
| |||||||
Life Sciences Tools & Services3.3% | ||||||||
Illumina, Inc.(1) | 19,143 | 9,490,142 | ||||||
IQVIA Holdings, Inc.(1) | 88,451 | 21,909,313 | ||||||
|
| |||||||
31,399,455 | ||||||||
|
| |||||||
Pharmaceuticals2.9% | ||||||||
Zoetis, Inc. | 137,739 | 27,919,695 | ||||||
|
| |||||||
Professional Services4.9% | ||||||||
IHS Markit, Ltd. | 196,779 | 22,991,658 | ||||||
TransUnion | 200,680 | 24,093,641 | ||||||
|
| |||||||
47,085,299 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment7.8% | ||||||||
ASML Holding NV (Netherlands) | 37,923 | 29,077,081 | ||||||
NVIDIA Corp. | 233,640 | 45,557,464 | ||||||
|
| |||||||
74,634,545 | ||||||||
|
| |||||||
Software19.8% | ||||||||
Adobe, Inc.(1) | 99,800 | 62,038,674 | ||||||
Salesforce.com, Inc.(1) | 151,053 | 36,544,252 | ||||||
ServiceNow, Inc.(1) | 95,051 | 55,879,532 | ||||||
Splunk, Inc.(1) | 51,662 | 7,334,971 | ||||||
Trade Desk, Inc. (The)(1) | 345,603 | 28,308,342 | ||||||
|
| |||||||
190,105,771 | ||||||||
|
| |||||||
Specialty Retail3.7% | ||||||||
Home Depot, Inc. (The) | 66,519 | 21,830,871 | ||||||
Ulta Beauty, Inc.(1) | 42,045 | 14,118,711 | ||||||
|
| |||||||
35,949,582 | ||||||||
|
| |||||||
Total Common Stock (Cost: $241,209,607) | 943,481,131 | |||||||
|
| |||||||
MONEY MARKET INVESTMENTS1.9% | ||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(2) | 18,606,385 | 18,606,385 | ||||||
|
| |||||||
Total Money Market Investments (Cost: $18,606,385) | 18,606,385 | |||||||
|
| |||||||
Total Investments (100.0%) (Cost: $259,815,992) | 962,087,516 | |||||||
Liabilities In Excess Of Other Assets (0.0%) |
| (467,473 | ) | |||||
|
| |||||||
Net Assets (100.0%) | $ | 961,620,043 | ||||||
|
|
Notes to the Schedule of Investments: | ||
(1) | Non-income producing security. | |
(2) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
TCW Select Equities Fund
| ||
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Capital Markets | 3.2 | % | ||
Commercial Services & Supplies | 1.6 | |||
Entertainment | 2.0 | |||
Equity Real Estate | 5.7 | |||
Food & Staples Retailing | 2.2 | |||
Health Care Equipment & Supplies | 7.5 | |||
Interactive Media & Services | 11.9 | |||
Internet & Direct Marketing Retail | 6.3 | |||
IT Services | 15.3 | |||
Life Sciences Tools & Services | 3.3 | |||
Pharmaceuticals | 2.9 | |||
Professional Services | 4.9 | |||
Semiconductors & Semiconductor Equipment | 7.8 | |||
Software | 19.8 | |||
Specialty Retail | 3.7 | |||
Money Market Investments | 1.9 | |||
|
| |||
Total | 100.0 | % | ||
|
|
TCW Select Equities Fund
| ||
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Common Stock | ||||||||||||||||
Capital Markets | $ | 31,296,461 | $ | | $ | | $ | 31,296,461 | ||||||||
Commercial Services & Supplies | 15,194,185 | | | 15,194,185 | ||||||||||||
Entertainment | 19,780,490 | | | 19,780,490 | ||||||||||||
Equity Real Estate | 54,488,041 | | | 54,488,041 | ||||||||||||
Food & Staples Retailing | 20,857,320 | | | 20,857,320 | ||||||||||||
Health Care Equipment & Supplies | 72,551,604 | | | 72,551,604 | ||||||||||||
Interactive Media & Services | 114,516,909 | | | 114,516,909 | ||||||||||||
Internet & Direct Marketing Retail | 60,778,432 | | | 60,778,432 | ||||||||||||
IT Services | 146,923,342 | | | 146,923,342 | ||||||||||||
Life Sciences Tools & Services | 31,399,455 | | | 31,399,455 | ||||||||||||
Pharmaceuticals | 27,919,695 | | | 27,919,695 | ||||||||||||
Professional Services | 47,085,299 | | | 47,085,299 | ||||||||||||
Semiconductors & Semiconductor Equipment | 74,634,545 | | | 74,634,545 | ||||||||||||
Software | 190,105,771 | | | 190,105,771 | ||||||||||||
Specialty Retail | 35,949,582 | | | 35,949,582 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stock | 943,481,131 | | | 943,481,131 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 18,606,385 | | | 18,606,385 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 962,087,516 | $ | | $ | | $ | 962,087,516 | ||||||||
|
|
|
|
|
|
|
|
Note 1 Security Valuations
Equity securities listed or traded on the NYSE and other stock exchanges are valued at the latest sale price on the exchange. Securities traded on the NASDAQ stock market (NASDAQ) are valued using official closing prices as reported by NASDAQ, which may not be the last sale price. Options on equity securities and options on indexes are valued using mid prices (average of bid and ask prices) as reported by the exchange or pricing service. Investments in open-end mutual funds including money market funds are valued based on the NAV per share as reported by the investment companies. All other securities for which over-the-counter (OTC) market quotations are readily available, including short-term securities, are valued with prices furnished by independent pricing services or by broker-dealers.
The Company has adopted, after the approval by the Companys Board of Directors (the Board, and each member thereof, a Director), a fair valuation methodology for foreign equity securities (exclusive of certain Latin American and Canadian equity securities). This methodology is designed to address the effect of movements in the U.S. market on the securities traded on foreign exchanges that have been closed for a period of time due to time zones differences. The utilization of the fair value model may result in the adjustment of prices taking into account fluctuations in the U.S. market. The fair value model is utilized each trading day and not dependent on certain thresholds or triggers.
Securities for which market quotations are not readily available, including in circumstances under which it is determined by the Advisor that prices received are not reflective of their market values, are valued by the Advisors Pricing Committee in accordance with the guidelines established by the Valuation Committee of the Companys Board of Directors (the Board, and each member thereof, a Director) and under the general oversight of the Board.
Fair value is defined as the price that a Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Funds disclose investments in their financial statements in a three-tier hierarchy. This hierarchy is utilized to establish classification of fair value measurements based on inputs. Inputs that go into fair value measurement refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entitys own assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
Level 1 quoted prices in active markets for identical investments.
Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3 significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investments assigned Level within the hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Level 1, Level 2, or Level 3.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.
Fair Value Measurements: Descriptions of the valuation techniques applied to the Funds major categories of assets and liabilities measured at fair value on a recurring basis are as follows:
Corporate bonds. The fair value of corporate bonds is estimated using recently executed transactions, market price quotations (where observable), bond spreads, or credit default swap spreads adjusted for any basis difference between cash and derivative instruments. Corporate bonds are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, spreads, or any of the other aforementioned key inputs are unobservable, they are categorized in Level 3 of the hierarchy.
Credit default swaps. Credit default swaps are fair valued using pricing models that take into account, among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps would be categorized as Level 2; otherwise, the fair values would be categorized in Level 3.
Equity securities. Securities are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded and valuation adjustments are not applied, they are generally categorized in Level 1 of the fair value hierarchy. Restricted securities issued by publicly held companies are generally categorized in Level 2 of the fair value hierarchy; if a discount is applied and significant, they are categorized in Level 3. Restricted securities held in non-public entities are included in Level 3 of the fair value hierarchy because they trade infrequently, and therefore, the inputs are unobservable. Certain foreign securities that are fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets are categorized in Level 2 of the fair value hierarchy.
Exchange-traded funds. Exchange-traded funds are generally valued based on quoted prices from the applicable exchange. They are categorized in Level 1 of the fair value hierarchy.
Foreign currency contracts. The fair values of foreign currency contracts are derived from indices, reference rates, and other inputs or a combination of these factors. To the extent that these factors can be observed, foreign currency contracts are categorized in Level 2 of the fair value hierarchy.
Mutual funds. Open-end mutual funds including money market funds are valued using the NAV as reported by the fund companies. As such, they are categorized in Level 1.
Options contracts. Option contracts traded on securities exchanges are fair valued using market mid prices; as such, they are categorized in Level 1. Option contracts traded OTC are fair valued based on pricing models and incorporate various inputs such as interest rate, credit spreads, currency exchange rates and volatility measurements for in-the-money, at-the-money, and out-of-money contracts on a given strike price. To the extent that these inputs are observable and timely, the fair value of OTC option contracts would be categorized in Level 2; otherwise, the fair values would be categorized in Level 3.
Restricted securities. Restricted securities, including illiquid Rule 144A securities, issued by non-public entities are included in Level 3 of the fair value hierarchy because they trade infrequently, and therefore the inputs are unobservable. Any other restricted securities valued similar to publicly traded securities may be categorized in Level 2 or 3 of the fair value hierarchy depending on whether a discount is applied and significant to the fair value.
Warrants. Warrants are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded, and valuation adjustments are not applied, they are generally categorized in Level 1 of the fair value hierarchy.
The summary of the inputs used as of July 31, 2021 in valuing the Funds investments is listed after the Schedule of Investments for each Fund.
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
TCW Emerging Markets Multi-Asset Opportunities Fund | ||||
Balance as of October 31, 2020 | $ | 123,673 | ||
Accrued Discounts (Premiums) | | |||
Realized Gain (Loss) | | |||
Change in Unrealized Appreciation (Depreciation) | 16,712 | |||
Purchases | | |||
Sales | | |||
Transfers in to Level 3 | | |||
Transfers out of Level 3 | | |||
|
| |||
Balance as of July 31, 2021 | $ | 140,385 | ||
|
| |||
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2021 | $ | 16,712 | ||
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|
Significant unobservable valuation inputs for Level 3 investments as of July 31, 2021 are as follows:
Description | Fair Value at July 31, 2021 | Valuation Techniques | Unobservable Input | Range | Average Weighted Price | |||||||||||||||
TCW Emerging Markets Multi-Asset Opportunities Fund |
| |||||||||||||||||||
Foreign Government Bonds | $ | 140,385 | Third-party Vendor | Vendor Prices | $ | 10.50 | $ | 10.50 |
Derivative Instruments: Derivatives are financial instruments which are valued based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. A derivative contract may result in a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. It is possible that a derivative transaction will result in a loss greater than the principal amount invested. The Funds may not be able to close out a derivative transaction at a favorable time or price.
For the period ended July 31, 2021, the following Funds had derivatives and transactions in derivatives, grouped in the following risk categories:
TCW Emerging Markets Multi-Asset Opportunities Fund
Credit Risk | Equity Risk | Foreign Currency Risk | Interest Rate Risk | Total | ||||||||||||||||
Asset Derivatives |
| |||||||||||||||||||
Swap Agreements | $ | 26,138 | $ | | $ | | $ | | $ | 26,138 | ||||||||||
Forward Contracts | | | 5,342 | | 5,342 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Value | $ | 26,138 | $ | | $ | 5,342 | $ | | $ | 31,480 | ||||||||||
Liability Derivatives |
| |||||||||||||||||||
Swap Agreements | $ | (6,590 | ) | $ | | $ | | $ | | $ | (6,590 | ) | ||||||||
Futures Contracts(1) | | | | (10,370 | ) | (10,370 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Value | $ | (6,590 | ) | $ | | $ | | $ | (10,370 | ) | $ | (16,960 | ) | |||||||
Number of Contracts or Notional Amounts(3) |
| |||||||||||||||||||
Swap Agreements | 1,314,167 | | | | 1,314,167 | |||||||||||||||
Forward Currency Contracts | | | 388,527 | | 388,527 | |||||||||||||||
Futures Contracts | | | | 3 | 3 | |||||||||||||||
TCW Global Real Estate Fund |
| |||||||||||||||||||
Asset Derivatives |
| |||||||||||||||||||
Investments(2) | $ | | $ | 136,250 | $ | | $ | | $ | 136,250 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Value | $ | | $ | 136,250 | $ | | $ | | $ | 136,250 | ||||||||||
Liability Derivatives |
| |||||||||||||||||||
Written Options | | (45,000 | ) | | | (45,000 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Value | $ | | $ | (45,000 | ) | $ | | $ | | $ | (45,000 | ) | ||||||||
Number of Contracts(3) |
| |||||||||||||||||||
Options Purchased | | 3,026 | | | 3,026 | |||||||||||||||
Options Written | | 442 | | | 442 |
(1) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. |
(2) | Represents purchased options, at value. |
(3) | Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the period ended July 31, 2021. |
Note 2 Portfolio Investments
When-Issued, Delayed-Delivery and Forward Commitment Transactions: The Funds, with the exception of the TCW Conservative Allocation Fund, may enter into when-issued, delayed-delivery, or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of each Funds existing portfolio. In when-issued, delayed-delivery, or forward commitment transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If a Funds counterparty fails to deliver a security purchased on a when-issued, delayed-delivery or forward commitment basis, there may be a loss, and the Fund may have missed an opportunity to make an alternative investment.
Prior to settlement of these transactions, the value of the subject securities will fluctuate with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them. There were no when-issued, delayed-delivery or forward commitment transactions in the Funds during the period ended July 31, 2021.
Repurchase Agreements: The Funds may enter into repurchase agreements under the terms of a Master Repurchase Agreement (MRA). In a repurchase agreement, the Funds purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. The MRA permits each Fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from each Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterpartys bankruptcy or insolvency. Pursuant to the terms of the MRA, each Fund receives securities as collateral with a market value in excess of the repurchase price. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Funds obligation under bankruptcy law to return the excess to the counterparty. There were no repurchase agreements outstanding as of July 31, 2021.
Security Lending: The Funds may lend their securities to qualified brokers. The loans must be collateralized at all times primarily with cash although the Funds can accept money market instruments or U.S. Government securities with a market value at least equal to the market value of the securities on loan. As with any extensions of credit, the Funds may bear the risk of delay in recovery or even loss of rights in the collateral if the borrowers of the securities fail financially. The Funds earn additional income for lending their securities by investing the cash collateral in short-term investments. The Funds did not lend any securities during the period ended July 31, 2021.
Derivatives:
Forward Foreign Currency Contracts: The Funds, with the exception of the TCW Conservative Allocation Fund, may enter into forward foreign currency contracts as a hedge against fluctuations in foreign exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in market value is recorded by the Funds as unrealized gains or losses in the Statement of Assets and Liabilities. When a contract is closed or delivery is taken, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the U.S. dollar. The TCW Emerging Markets Multi-Asset Opportunities Fund had forward foreign currency contracts outstanding as of July 31, 2021.
Futures Contracts: The Funds may enter into futures contracts. A Fund may seek to manage a variety of different risks through the use of futures contracts, such as interest rate risk, equity price risk, and currency risk. A Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made, and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk. Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by a Fund as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of a Fund that is the subject of the hedge. It may not always be possible for a Fund to enter into a closing transaction with respect to a futures contract it has entered into at a favorable time or price. When a Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it.
When a Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The TCW Emerging Markets Multi-Asset Opportunities Fund utilized futures during the period ended July 31, 2021 to help manage interest rate duration of the Fund. Futures contracts outstanding at July 31, 2021 are listed on the Schedule of Investments.
Options: The Funds may purchase and sell put and call options on a security or an index of securities to enhance investment performance and/or to protect against changes in market prices. The Funds may also enter into currency options to hedge against or to take advantage of currency fluctuations.
A call option gives the holder the right to purchase, and obligates the writer to sell, a security at the strike price at any time before the expiration date. A put option gives the holder the right to sell, and obligates the writer to buy, a security at the exercise price at any time before the expiration date. A Fund may purchase put options to protect portfolio holdings against a decline in market value of a security or securities held by it. A Fund may also purchase a put option hoping to profit from an anticipated decline in the value of the underlying security. If a Fund holds the security underlying the option, the option premium and any transaction costs will reduce any profit the Fund might have realized had it sold the underlying security instead of buying the put option. A Fund may purchase call options to hedge against an increase in the price of securities that the Fund ultimately wants to buy. A Fund may also purchase a call option as a long directional investment hoping to profit from an anticipated increase in the value of the underlying security. In order for a call option to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit a Fund might have realized had it bought the underlying security at the time it purchased the call option.
Purchasing foreign currency options gives a Fund the right, but not the obligation, to buy or sell specified amounts of currency at a rate of exchange that may be exercised by a certain date. These currency options may be used as a short or long hedge against possible variations in foreign exchange rates or to gain exposure to foreign currencies.
When a Fund purchases an option, it runs the risk that it will lose its entire investment in the option in a relatively short period of time, unless the Fund exercises the option or enters into a closing sale transaction before the options expiration. If the price of the underlying security does not rise (in the case of a call) or fall (in the case of a put) to an extent sufficient to cover the option premium and transaction costs, the Fund will lose part or all of its investment in the option. Premiums paid for purchasing options that expire are treated as realized losses.
Options purchased or sold by a Fund may be traded on a securities or options exchange. Such options typically have minimal exposure to counterparty risk. However, an exchange or market may at times find it necessary to impose restrictions on particular types of options transactions, such as opening transactions. If an underlying security ceases to meet qualifications imposed by an exchange or the Options Clearing Corporation, new series of options on that security will no longer be opened to replace the expiring series, and opening transactions in existing series may be prohibited.
OTC options are options not traded on exchanges or backed by clearinghouses. Rather, they are entered into directly between a Fund and the counterparty to the option. In the case of an OTC option purchased by a Fund, the value of the option to the Fund will depend on the willingness and ability of the option writer to perform its obligations to the Fund. In addition, OTC options may not be transferable and there may be little or no secondary market for them, so they may be considered illiquid. It may not be possible to enter into closing transactions with respect to OTC options or otherwise to terminate such options, and as a result a Fund may be required to remain obligated on an unfavorable OTC option until its expiration.
During the period ended July 31, 2021, the TCW Global Real Estate Fund entered into option contracts to hedge the Funds investments from market volatility in the real estate sector.
Swap Agreements: The Funds may enter into swap agreements. Swap agreements are typically two-party contracts entered into primarily by institutional investors. In a standard swap transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest factor. The gross returns to be exchanged or swapped between the parties are generally calculated with respect to a notional amount (i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or in a basket of securities representing a particular index).
In a total return swap, one party typically agrees to pay to the other a short-term interest rate in return for a payment at one or more times in the future based on the increase in the value of an underlying security or other asset, or index of securities or assets; if the underlying security, asset, or index declines in value, the party that pays the short-term interest rate must also pay to its counterparty a payment based on the amount of the decline. A Fund may take either side of such a swap, and so may take a long or short position in the underlying security, asset, or index. A Fund may enter into a total return swap to hedge against an exposure in its portfolio such as interest rate risk (including to adjust the duration or credit quality of a Funds bond portfolio), equity risk, or credit risk or generally to put cash to work efficiently in the markets in anticipation of, or as a replacement for, cash investments. A Fund may also enter into a total return swap to gain exposure to securities or markets in which it might not be able to invest directly (in so-called market access transactions).
Interest rate swaps are agreements in which one party pays a floating rate of interest on a notional principal amount and receives a fixed rate of interest on the same notional principal amount for a specified period of time. Alternatively, a party may pay a fixed rate and receive a floating rate. In more complex swaps, the notional principal amount may decline (or amortize) over time. A Funds maximum risk of loss due to counterparty default is the discounted NAV of the cash flows paid to/received from the counterparty over the interest rate swaps remaining life.
A Fund may enter into credit default swap transactions as a buyer or seller of credit protection. In a credit default swap, one party provides what is in effect insurance against a default or other adverse credit event affecting an issuer of debt securities (typically referred to as a reference entity). In general, the buyer of credit protection is obligated to pay the protection seller an upfront amount or a periodic stream of payments over the term of the swap. If a credit event occurs, the buyer has the right to deliver to the seller bonds or other obligations of the reference entity (with a value up to the full notional value of the swap), and to receive a payment equal to the par value of the bonds or other obligations. Credit events that would trigger a request that the seller make payment are specific to each credit default swap agreement, but generally include bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. When a Fund buys protection, it may or may not own securities of the reference entity. When a Fund sells protection under a credit default swap, the position may have the effect of creating leverage in the Funds portfolio through the Funds indirect long exposure to the issuer or securities on which the swap is written. When a Fund sells protection, it may do so either to earn additional income or to create such a synthetic long position.
Whenever a Fund enters into a swap agreement, it takes on counterparty risk the risk that its counterparty will be unable or unwilling to meet its obligations under the swap agreement. A Fund also takes the risk that the market will move against its position in the swap agreement. In the case of a total return swap, the swap will change in value depending on the change in value of the asset or index on which the swap is written. When a Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and a Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.
During the term of a swap transaction, changes in the value of the swap are recognized as unrealized gains or losses by marking-to-market to reflect the market value of the swap. When the swap is terminated, a Fund will record a realized gain or loss equal to the difference, if any, between the proceeds from (or cost of) the closing transaction and the Funds basis in the agreement. Upfront swap premium payments paid or received by a Fund, if any, are recorded within the value of the open swap agreement on the Funds Statement of Assets and Liabilities and represent payments paid or received upon entering into the swap agreement to compensate for differences between stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, and other relevant factors). These upfront payments are recorded as realized gains or losses on each Funds Statement of Operations upon termination or maturity of the swap agreement.
During the term of a swap transaction, the periodic net payments can be made for a set period of time or may be triggered by a predetermined credit event. The net periodic payments may be based on a fixed or variable interest rate, the change in market value of a specified security, basket of securities or index, or the return generated by a security. These periodic payments received or made by the Funds are recorded as realized gains and losses, respectively. During the period ended July 31, 2021, the TCW Emerging Markets Multi-Asset Opportunities Fund used credit default swaps to limit certain credit exposure within the Fund.
Note 3 Transactions with Affiliates
The summary of the TCW Conservative Allocation Funds transactions in the affiliated funds for the period ended July 31, 2021 is listed after the Schedule of Investments.
Note 4 Restricted Securities
The Funds are permitted to invest in securities that have legal or contractual restrictions on resale. These securities may be sold privately, but are required to be registered before being sold to the public (exemption rules apply). Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended (the Securities Act). However, the Company considers 144A securities to be restricted if those securities have been deemed illiquid. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. There were no restricted securities held by the Funds at July 31, 2021.
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES107.2% of Net Assets |
| |||||||||||
CORPORATE BONDS23.8% |
| |||||||||||
Aerospace & Defense0.2% |
| |||||||||||
Boeing Co. (The) | ||||||||||||
1.43% | 02/04/24 | $ | 2,650,000 | $ | 2,656,094 | |||||||
4.88% | 05/01/25 | 560,000 | 628,102 | |||||||||
|
| |||||||||||
3,284,196 | ||||||||||||
|
| |||||||||||
Agriculture0.6% |
| |||||||||||
BAT Capital Corp. | ||||||||||||
2.73% | 03/25/31 | 695,000 | 700,067 | |||||||||
4.39% | 08/15/37 | 470,000 | 517,678 | |||||||||
4.54% | 08/15/47 | 1,270,000 | 1,375,145 | |||||||||
5.28% | 04/02/50 | 1,285,000 | 1,524,051 | |||||||||
Imperial Brands Finance PLC | 07/26/24 | 2,300,000 | 2,426,362 | |||||||||
Reynolds American, Inc. | ||||||||||||
5.70% | 08/15/35 | 260,000 | 321,351 | |||||||||
5.85% | 08/15/45 | 2,770,000 | 3,467,237 | |||||||||
|
| |||||||||||
10,331,891 | ||||||||||||
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Airlines0.2% |
| |||||||||||
America West Airlines, Inc. Pass-Through Certificates (01-1) (EETC) | 10/19/23 | 428,867 | 437,133 | |||||||||
Delta Air Lines Pass-Through Trust (19-1-AA) | 10/25/25 | 1,500,000 | 1,583,730 | |||||||||
Northwest Airlines LLC Pass-Through Certificates (01-1-A1) (EETC) | 10/01/23 | 140,280 | 143,496 | |||||||||
US Airways Group, Inc. Pass-Through Certificates (10-1A) (EETC) | 10/22/24 | 244,542 | 250,839 | |||||||||
US Airways Group, Inc. Pass-Through Certificates (12-1-A) (EETC) | 04/01/26 | 1,140,963 | 1,206,087 | |||||||||
US Airways Group, Inc. Pass-Through Certificates (12-2-A) (EETC) | 12/03/26 | 456,967 | 458,456 | |||||||||
|
| |||||||||||
4,079,741 | ||||||||||||
|
| |||||||||||
Auto Manufacturers0.5% |
| |||||||||||
Ford Motor Credit Co. LLC | ||||||||||||
1.00% (3 mo. USD LIBOR + 0.880%)(2) | 10/12/21 | 2,265,000 | 2,265,938 | |||||||||
1.20% (3 mo. USD LIBOR + 1.080%)(2) | 08/03/22 | 1,000,000 | 997,500 | |||||||||
1.42% (3 mo. USD LIBOR + 1.270%)(2) | 03/28/22 | 445,000 | 443,687 | |||||||||
3.22% | 01/09/22 | 990,000 | 999,405 | |||||||||
3.81% | 10/12/21 | 636,000 | 639,793 | |||||||||
General Motors Financial Co., Inc. | ||||||||||||
3.15% | 06/30/22 | 1,540,000 | 1,574,444 | |||||||||
3.45% | 04/10/22 | 310,000 | 314,926 | |||||||||
4.20% | 11/06/21 | 375,000 | 378,799 | |||||||||
4.38% | 09/25/21 | 600,000 | 603,540 | |||||||||
|
| |||||||||||
8,218,032 | ||||||||||||
|
| |||||||||||
Banks5.9% |
| |||||||||||
Bank of America Corp. | ||||||||||||
1.66% (SOFR + 0.910%)(2) | 03/11/27 | 6,355,000 | 6,463,137 | |||||||||
1.73% (SOFR + 0.960%)(2) | 07/22/27 | 6,755,000 | 6,878,211 | |||||||||
2.09% (SOFR + 1.060%)(2) | 06/14/29 | 2,200,000 | 2,241,888 | |||||||||
2.88% (3 mo. USD LIBOR + 1.190%)(2) | 10/22/30 | 430,000 | 457,137 | |||||||||
3.97% (3 mo. USD LIBOR + 1.210%)(2) | 02/07/30 | 1,125,000 | 1,281,251 | |||||||||
Citigroup, Inc. | ||||||||||||
1.46% (SOFR + 0.770%)(2) | 06/09/27 | 3,685,000 | 3,695,318 | |||||||||
3.11% (SOFR + 2.842%)(2) | 04/08/26 | 1,580,000 | 1,693,279 | |||||||||
4.41% (SOFR + 3.914%)(2) | 03/31/31 | 1,225,000 | 1,440,888 | |||||||||
Credit Suisse Group AG | ||||||||||||
1.31% (SOFR + 0.980%)(1),(2) | 02/02/27 | 2,355,000 | 2,325,374 | |||||||||
2.19% (SOFR + 2.044%)(1),(2) | 06/05/26 | 1,095,000 | 1,126,625 | |||||||||
2.59% (SOFR + 1.560%)(1),(2) | 09/11/25 | 1,550,000 | 1,615,649 | |||||||||
3.09% (SOFR + 1.730%)(1),(2) | 05/14/32 | 1,545,000 | 1,618,511 | |||||||||
4.28%(1) | 01/09/28 | 1,360,000 | 1,526,777 | |||||||||
4.55% | 04/17/26 | 165,000 | 187,591 | |||||||||
Fifth Third Bancorp | 05/05/27 | 1,755,000 | 1,873,195 | |||||||||
Goldman Sachs Group, Inc. (The) | ||||||||||||
1.09% (SOFR + 0.789%)(2) | 12/09/26 | 705,000 | 700,580 | |||||||||
1.43% (SOFR + 0.798%)(2) | 03/09/27 | 5,260,000 | 5,288,036 | |||||||||
1.54% (SOFR + 0.818%)(2) | 09/10/27 | 880,000 | 886,688 | |||||||||
3.27% (3 mo. USD LIBOR + 1.201%)(2) | 09/29/25 | 3,085,000 | 3,313,197 | |||||||||
HSBC Holdings PLC | ||||||||||||
0.98% (SOFR + 0.708%)(2) | 05/24/25 | 2,355,000 | 2,361,782 | |||||||||
1.59% (SOFR + 1.290%)(2) | 05/24/27 | 2,930,000 | 2,950,013 | |||||||||
2.01% (SOFR + 1.732%)(2) | 09/22/28 | 2,365,000 | 2,399,647 | |||||||||
HSBC Holdings PLC (United Kingdom) | 11/07/25 | 535,000 | 561,338 | |||||||||
JPMorgan Chase & Co. | ||||||||||||
0.97% (SOFR + 0.580%)(2) | 06/23/25 | 6,625,000 | 6,655,011 | |||||||||
1.58% (SOFR + 0.885%)(2) | 04/22/27 | 2,465,000 | 2,496,626 | |||||||||
2.07% (SOFR + 1.015%)(2) | 06/01/29 | 1,330,000 | 1,356,853 | |||||||||
2.08% (SOFR + 1.850%)(2) | 04/22/26 | 790,000 | 820,028 | |||||||||
Lloyds Banking Group PLC (United Kingdom) | ||||||||||||
1.63% (1 year Treasury Constant Maturity Rate + 0.850%)(2) | 05/11/27 | 1,500,000 | 1,511,820 | |||||||||
2.91% (3 mo. USD LIBOR + 0.810%)(2) | 11/07/23 | 1,935,000 | 1,991,900 | |||||||||
3.87% (1-year Treasury Constant Maturity Rate + 3.500%)(2) | 07/09/25 | 1,600,000 | 1,734,832 | |||||||||
Macquarie Group, Ltd. | 01/12/27 | 2,510,000 | 2,506,794 |
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Morgan Stanley |
| |||||||||||
0.79% (SOFR + 0.509%)(2) | 01/22/25 | $ | 1,020,000 | $ | 1,022,017 | |||||||
1.51% (SOFR + 0.858%)(2) | 07/20/27 | 4,985,000 | 5,027,422 | |||||||||
1.59% (SOFR + 0.879%)(2) | 05/04/27 | 2,470,000 | 2,508,137 | |||||||||
NatWest Group PLC (United Kingdom) | 03/22/25 | 2,365,000 | 2,568,958 | |||||||||
Santander UK Group Holdings PLC (United Kingdom) | ||||||||||||
1.09% (SOFR + 0.787%)(2) | 03/15/25 | 3,265,000 | 3,282,305 | |||||||||
3.37% (3 mo. USD LIBOR + 1.080%)(2) | 01/05/24 | 1,050,000 | 1,090,502 | |||||||||
4.80% (3 mo. USD LIBOR +1.570%)(2) | 11/15/24 | 960,000 | 1,048,308 | |||||||||
Santander UK PLC (United Kingdom) | 11/07/23 | 2,460,000 | 2,675,496 | |||||||||
Wells Fargo & Co. | ||||||||||||
2.16% (3 mo. USD LIBOR + 0.750%)(2) | 02/11/26 | 3,610,000 | 3,761,046 | |||||||||
2.19% (SOFR + 2.000%)(2) | 04/30/26 | 3,645,000 | 3,796,222 | |||||||||
2.39% (SOFR + 2.100%)(2) | 06/02/28 | 265,000 | 277,550 | |||||||||
2.88% (SOFR + 1.432%)(2) | 10/30/30 | 285,000 | 304,830 | |||||||||
3.58% (3 mo. USD LIBOR + 1.310%)(2) | 05/22/28 | 1,015,000 | 1,126,798 | |||||||||
|
| |||||||||||
100,449,567 | ||||||||||||
|
| |||||||||||
Beverages0.3% | ||||||||||||
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide, Inc. | 02/01/46 | 2,325,000 | 2,986,309 | |||||||||
Anheuser-Busch InBev Worldwide, Inc. | 06/01/50 | 917,000 | 1,140,235 | |||||||||
Bacardi, Ltd. | 07/15/26 | 750,000 | 792,570 | |||||||||
|
| |||||||||||
4,919,114 | ||||||||||||
|
| |||||||||||
Biotechnology0.3% | ||||||||||||
Gilead Sciences, Inc. | 09/29/23 | 4,720,000 | 4,722,933 | |||||||||
|
| |||||||||||
Chemicals0.1% | ||||||||||||
International Flavors & Fragrances, Inc. | 09/26/48 | 1,975,000 | 2,642,097 | |||||||||
|
| |||||||||||
Commercial Services0.3% | ||||||||||||
IHS Markit, Ltd. |
| |||||||||||
3.63% | 05/01/24 | 1,000,000 | 1,068,625 | |||||||||
4.00%(1) | 03/01/26 | 1,015,000 | 1,130,477 | |||||||||
4.75%(1) | 02/15/25 | 750,000 | 840,262 | |||||||||
4.75% | 08/01/28 | 1,750,000 | 2,088,520 | |||||||||
|
| |||||||||||
5,127,884 | ||||||||||||
|
| |||||||||||
Computers0.1% | ||||||||||||
Apple, Inc. |
| |||||||||||
2.65% | 02/08/51 | 1,000,000 | 996,440 | |||||||||
3.85% | 05/04/43 | 275,000 | 330,908 | |||||||||
|
| |||||||||||
1,327,348 | ||||||||||||
|
| |||||||||||
Diversified Financial Services1.1% | ||||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | ||||||||||||
3.65% | 07/21/27 | 640,000 | 687,758 | |||||||||
3.88% | 01/23/28 | 430,000 | 465,531 | |||||||||
3.95% | 02/01/22 | 685,000 | 694,708 | |||||||||
Air Lease Corp. | 03/01/25 | 1,300,000 | 1,389,622 | |||||||||
Avolon Holdings Funding, Ltd. | ||||||||||||
2.88%(1) | 02/15/25 | 1,550,000 | 1,607,273 | |||||||||
3.95%(1) | 07/01/24 | 405,000 | 433,463 | |||||||||
5.13%(1) | 10/01/23 | 90,000 | 97,322 | |||||||||
5.25%(1) | 05/15/24 | 115,000 | 126,551 | |||||||||
GE Capital Funding LLC | 05/15/30 | 1,405,000 | 1,654,597 | |||||||||
GE Capital International Funding Co. Unlimited Co. (Ireland) | 11/15/35 | 4,110,000 | 5,015,165 | |||||||||
LSEGA Financing PLC (United Kingdom) | 04/06/28 | 2,470,000 | 2,534,282 | |||||||||
Park Aerospace Holdings, Ltd. | ||||||||||||
4.50%(1) | 03/15/23 | 2,715,000 | 2,855,507 | |||||||||
5.25%(1) | 08/15/22 | 425,000 | 443,481 | |||||||||
5.50%(1) | 02/15/24 | 385,000 | 424,426 | |||||||||
Raymond James Financial, Inc. | 07/15/46 | 460,000 | 604,987 | |||||||||
|
| |||||||||||
19,034,673 | ||||||||||||
|
| |||||||||||
Electric1.5% |
| |||||||||||
Appalachian Power Co. | 06/01/45 | 690,000 | 860,353 | |||||||||
Duke Energy Progress LLC | 10/15/46 | 1,325,000 | 1,549,866 | |||||||||
El Paso Electric Co. | 12/15/22 | 2,065,000 | 2,125,888 | |||||||||
Indiana Michigan Power Co. | 03/15/46 | 920,000 | 1,182,418 | |||||||||
ITC Holdings Corp. | 05/14/30 | 2,000,000 | 2,141,709 | |||||||||
Jersey Central Power & Light Co. | 03/01/32 | 2,575,000 | 2,698,265 | |||||||||
KCP&L Greater Missouri Operations Co. | 11/15/21 | 1,100,000 | 1,123,503 | |||||||||
Metropolitan Edison Co. | 03/15/23 | 3,030,000 | 3,138,993 | |||||||||
MidAmerican Energy Co. | 10/15/36 | 1,655,000 | 2,368,153 | |||||||||
NextEra Energy Capital Holdings, Inc. | 02/22/23 | 3,000,000 | 3,000,000 | |||||||||
Niagara Mohawk Power Corp. | 11/28/22 | 920,000 | 945,748 | |||||||||
Puget Energy, Inc. | 09/01/21 | 1,820,000 | 1,827,708 | |||||||||
Tucson Electric Power Co. | ||||||||||||
4.00% | 06/15/50 | 1,500,000 | 1,822,710 | |||||||||
5.15% | 11/15/21 | 1,000,000 | 1,002,297 | |||||||||
|
| |||||||||||
25,787,611 | ||||||||||||
|
| |||||||||||
Food0.4% |
| |||||||||||
Kraft Heinz Foods Co. |
| |||||||||||
4.88% | 10/01/49 | 537,000 | 669,403 | |||||||||
5.00% | 06/04/42 | 2,133,000 | 2,677,109 | |||||||||
5.20% | 07/15/45 | 775,000 | 984,386 | |||||||||
Kroger Co. (The) | 01/15/49 | 1,320,000 | 1,847,928 | |||||||||
|
| |||||||||||
6,178,826 | ||||||||||||
|
|
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Gas0.2% | ||||||||||||
CenterPoint Energy Resources Corp. | 02/01/37 | $ | 1,610,000 | $ | 2,173,044 | |||||||
KeySpan Gas East Corp. | 04/01/41 | 1,551,000 | 2,159,519 | |||||||||
|
| |||||||||||
4,332,563 | ||||||||||||
|
| |||||||||||
Health Care-Services1.5% | ||||||||||||
Anthem, Inc. | 12/01/27 | 2,405,000 | 2,714,793 | |||||||||
Centene Corp. | 10/15/30 | 3,888,000 | 4,046,086 | |||||||||
CommonSpirit Health | ||||||||||||
2.78% | 10/01/30 | 955,000 | 1,011,708 | |||||||||
4.35% | 11/01/42 | 600,000 | 719,610 | |||||||||
Fresenius Medical Care US Finance III, Inc. | 12/01/26 | 1,650,000 | 1,673,083 | |||||||||
HCA, Inc. | ||||||||||||
2.38% | 07/15/31 | 715,000 | 722,729 | |||||||||
4.13% | 06/15/29 | 3,946,000 | 4,507,792 | |||||||||
4.50% | 02/15/27 | 455,000 | 519,863 | |||||||||
5.00% | 03/15/24 | 620,000 | 686,297 | |||||||||
5.25% | 04/15/25 | 1,770,000 | 2,032,679 | |||||||||
5.25% | 06/15/49 | 600,000 | 788,174 | |||||||||
Humana, Inc. | 02/03/32 | 2,055,000 | 2,065,891 | |||||||||
Saint Barnabas Health Care System | 07/01/28 | 3,290,000 | 3,730,179 | |||||||||
|
| |||||||||||
25,218,884 | ||||||||||||
|
| |||||||||||
Insurance1.3% | ||||||||||||
Athene Global Funding | 05/24/24 | 2,465,000 | 2,479,297 | |||||||||
Farmers Exchange Capital | 07/15/48 | 1,495,000 | 2,194,939 | |||||||||
Farmers Exchange Capital II | 11/01/53 | 2,065,000 | 2,734,544 | |||||||||
Nationwide Mutual Insurance Co. | ||||||||||||
2.41% (3 mo. USD LIBOR + 2.290%)(1),(2) | 12/15/24 | 4,000,000 | 4,004,325 | |||||||||
New York Life Insurance Co. | 05/15/50 | 2,430,000 | 2,822,725 | |||||||||
Protective Life Global Funding | 04/15/26 | 2,955,000 | 3,023,142 | |||||||||
Teachers Insurance & Annuity Association of America | ||||||||||||
3.30%(1) | 05/15/50 | 2,980,000 | 3,191,938 | |||||||||
4.27%(1) | 05/15/47 | 130,000 | 160,443 | |||||||||
Willis North America, Inc. | 09/15/28 | 1,445,000 | 1,693,063 | |||||||||
|
| |||||||||||
22,304,416 | ||||||||||||
|
| |||||||||||
Internet0.1% | ||||||||||||
Tencent Holdings, Ltd. | ||||||||||||
3.68%(1) | 04/22/41 | 825,000 | 883,877 | |||||||||
3.84%(1) | 04/22/51 | 825,000 | 897,072 | |||||||||
3.98%(1) | 04/11/29 | 740,000 | 828,097 | |||||||||
|
| |||||||||||
2,609,046 | ||||||||||||
|
| |||||||||||
Media0.5% | ||||||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital | ||||||||||||
5.38% | 04/01/38 | 1,475,000 | 1,846,479 | |||||||||
5.38% | 05/01/47 | 1,205,000 | 1,495,827 | |||||||||
5.75% | 04/01/48 | 1,028,000 | 1,337,106 | |||||||||
ViacomCBS, Inc. | 05/19/32 | $ | 1,900,000 | $ | 2,222,601 | |||||||
Walt Disney Co. (The) | 01/13/51 | 1,080,000 | 1,247,117 | |||||||||
|
| |||||||||||
8,149,130 | ||||||||||||
|
| |||||||||||
Miscellaneous Manufacturers0.2% | ||||||||||||
General Electric Co. | ||||||||||||
0.64% (3 mo. USD LIBOR + 0.480%)(2) | 08/15/36 | 3,045,000 | 2,631,070 | |||||||||
6.75% | 03/15/32 | 1,000,000 | 1,395,169 | |||||||||
|
| |||||||||||
4,026,239 | ||||||||||||
|
| |||||||||||
Oil & Gas0.5% | ||||||||||||
Exxon Mobil Corp. | 03/19/50 | 2,280,000 | 2,892,836 | |||||||||
Petroleos Mexicanos | ||||||||||||
5.95% | 01/28/31 | 995,000 | 979,329 | |||||||||
6.63% | 06/15/35 | 1,105,000 | 1,072,071 | |||||||||
6.75% | 09/21/47 | 2,625,000 | 2,350,267 | |||||||||
6.95% | 01/28/60 | 510,000 | 455,762 | |||||||||
7.69% | 01/23/50 | 850,000 | 827,262 | |||||||||
|
| |||||||||||
8,577,527 | ||||||||||||
|
| |||||||||||
Packaging & Containers0.3% | ||||||||||||
Amcor Finance USA, Inc. | 04/28/26 | 1,380,000 | 1,525,728 | |||||||||
Berry Global, Inc. | ||||||||||||
1.57%(1) | 01/15/26 | 3,645,000 | 3,673,321 | |||||||||
4.88%(1) | 07/15/26 | 580,000 | 612,341 | |||||||||
|
| |||||||||||
5,811,390 | ||||||||||||
|
| |||||||||||
Pharmaceuticals1.7% | ||||||||||||
AbbVie, Inc. | ||||||||||||
4.05% | 11/21/39 | 555,000 | 660,134 | |||||||||
4.40% | 11/06/42 | 1,840,000 | 2,278,987 | |||||||||
4.45% | 05/14/46 | 1,035,000 | 1,280,554 | |||||||||
4.50% | 05/14/35 | 267,000 | 328,478 | |||||||||
Bayer US Finance II LLC | ||||||||||||
4.25%(1) | 12/15/25 | 845,000 | 945,028 | |||||||||
4.38%(1) | 12/15/28 | 4,540,000 | 5,268,236 | |||||||||
4.63%(1) | 06/25/38 | 500,000 | 607,670 | |||||||||
4.88%(1) | 06/25/48 | 2,430,000 | 3,133,054 | |||||||||
Becton Dickinson and Co. | 05/20/30 | 1,000,000 | 1,065,880 | |||||||||
Cigna Corp. | ||||||||||||
3.40% | 03/15/51 | 500,000 | 539,900 | |||||||||
4.13% | 11/15/25 | 4,545,000 | 5,117,570 | |||||||||
CVS Health Corp. | ||||||||||||
3.88% | 07/20/25 | 1,477,000 | 1,642,664 | |||||||||
5.05% | 03/25/48 | 4,180,000 | 5,567,300 | |||||||||
|
| |||||||||||
28,435,455 | ||||||||||||
|
| |||||||||||
Pipelines1.2% | ||||||||||||
Enbridge Energy Partners LP | 10/15/25 | 333,000 | 394,006 | |||||||||
Energy Transfer LP | ||||||||||||
4.95% | 06/15/28 | 200,000 | 233,687 | |||||||||
5.00% | 05/15/50 | 550,000 | 645,826 | |||||||||
5.15% | 03/15/45 | 1,870,000 | 2,183,103 | |||||||||
5.40% | 10/01/47 | 1,763,000 | 2,127,130 | |||||||||
5.95% | 10/01/43 | 630,000 | 795,502 | |||||||||
6.50% | 02/01/42 | 1,400,000 | 1,845,476 | |||||||||
Plains All American Pipeline LP / PAA Finance Corp. | 12/15/26 | 2,115,000 | 2,391,557 | |||||||||
Rockies Express Pipeline LLC | ||||||||||||
4.95%(1) | 07/15/29 | 2,000,000 | 2,065,560 | |||||||||
6.88%(1) | 04/15/40 | 350,000 | 370,300 |
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Ruby Pipeline LLC | 04/01/22 | $ | 1,353,030 | $ | 1,278,614 | |||||||
Southern Natural Gas Co. LLC | 02/15/31 | 2,380,000 | 3,278,230 | |||||||||
TC PipeLines LP | 03/13/25 | 710,000 | 786,337 | |||||||||
Texas Eastern Transmission LP | 10/15/22 | 920,000 | 939,191 | |||||||||
TransCanada PipeLines, Ltd. (Canada) | 06/01/40 | 375,000 | 523,777 | |||||||||
Williams Partners LP | 04/15/40 | 650,000 | 898,436 | |||||||||
|
| |||||||||||
20,756,732 | ||||||||||||
|
| |||||||||||
REIT1.1% | ||||||||||||
American Campus Communities Operating Partnership LP | ||||||||||||
3.30% | 07/15/26 | 1,000,000 | 1,084,773 | |||||||||
4.13% | 07/01/24 | 1,425,000 | 1,552,235 | |||||||||
Boston Properties LP | 01/30/31 | 1,395,000 | 1,522,447 | |||||||||
CyrusOne LP / CyrusOne Finance Corp. | 11/01/30 | 1,570,000 | 1,519,148 | |||||||||
GLP Capital LP / GLP Financing II, Inc. | ||||||||||||
4.00% | 01/15/30 | 265,000 | 290,254 | |||||||||
5.30% | 01/15/29 | 1,280,000 | 1,510,318 | |||||||||
5.38% | 11/01/23 | 1,000,000 | 1,090,660 | |||||||||
5.38% | 04/15/26 | 1,823,000 | 2,112,456 | |||||||||
5.75% | 06/01/28 | 1,600,000 | 1,925,344 | |||||||||
Healthcare Trust of America Holdings LP | 03/15/31 | 2,350,000 | 2,331,629 | |||||||||
SL Green Operating Partnership LP | 10/15/22 | 2,380,000 | 2,450,258 | |||||||||
Ventas Realty LP | 04/01/27 | 690,000 | 778,924 | |||||||||
|
| |||||||||||
18,168,446 | ||||||||||||
|
| |||||||||||
Retail0.1% | ||||||||||||
Alimentation Couche-Tard, Inc. (Canada) | 07/26/27 | 1,710,000 | 1,900,018 | |||||||||
|
| |||||||||||
Savings & Loans0.2% | ||||||||||||
Nationwide Building Society (United Kingdom) | ||||||||||||
3.62% (3 mo. USD LIBOR + 1.181%)(1),(2) | 04/26/23 | 800,000 | 818,614 | |||||||||
3.77% (3 mo. USD LIBOR + 1.064%)(1),(2) | 03/08/24 | 2,670,000 | 2,799,438 | |||||||||
4.36% (3 mo. USD LIBOR + 1.392%)(1),(2) | 08/01/24 | 400,000 | 428,663 | |||||||||
|
| |||||||||||
4,046,715 | ||||||||||||
|
| |||||||||||
Semiconductors0.1% | ||||||||||||
Intel Corp. | ||||||||||||
4.10% | 05/19/46 | 1,000,000 | 1,207,610 | |||||||||
4.75% | 03/25/50 | 755,000 | 1,012,735 | |||||||||
|
| |||||||||||
2,220,345 | ||||||||||||
|
| |||||||||||
Software0.3% | ||||||||||||
Oracle Corp. | ||||||||||||
3.60% | 04/01/50 | 2,000,000 | 2,094,889 | |||||||||
3.95% | 03/25/51 | 2,425,000 | 2,699,292 | |||||||||
|
| |||||||||||
4,794,181 | ||||||||||||
|
| |||||||||||
Telecommunications2.8% | ||||||||||||
AT&T, Inc. | ||||||||||||
2.55%(1) | 12/01/33 | 4,625,000 | 4,666,304 | |||||||||
3.80%(1) | 12/01/57 | 5,286,000 | 5,628,427 | |||||||||
4.75% | 05/15/46 | 1,130,000 | 1,391,757 | |||||||||
4.85% | 03/01/39 | 1,554,000 | 1,910,379 | |||||||||
5.25% | 03/01/37 | 2,155,000 | 2,743,380 | |||||||||
Level 3 Financing, Inc. | ||||||||||||
3.40%(1) | 03/01/27 | 575,000 | 612,720 | |||||||||
3.88%(1) | 11/15/29 | 2,255,000 | 2,435,389 | |||||||||
Qwest Corp. | 09/15/25 | 920,000 | 1,092,500 | |||||||||
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | ||||||||||||
3.36%(1) | 03/20/23 | 171,250 | 172,063 | |||||||||
4.74%(1) | 03/20/25 | 5,934,375 | 6,363,044 | |||||||||
5.15%(1) | 09/20/29 | 2,505,000 | 2,892,298 | |||||||||
T-Mobile USA, Inc. | ||||||||||||
2.55% | 02/15/31 | 977,000 | 1,002,842 | |||||||||
3.75% | 04/15/27 | 1,675,000 | 1,868,362 | |||||||||
3.88% | 04/15/30 | 3,735,000 | 4,229,962 | |||||||||
4.38% | 04/15/40 | 1,990,000 | 2,361,025 | |||||||||
Verizon Communications, Inc. | ||||||||||||
2.10% | 03/22/28 | 815,000 | 839,320 | |||||||||
2.55% | 03/21/31 | 3,320,000 | 3,453,231 | |||||||||
Vodafone Group PLC (United Kingdom) | ||||||||||||
4.88% | 06/19/49 | 1,897,000 | 2,424,172 | |||||||||
5.25% | 05/30/48 | 1,390,000 | 1,856,037 | |||||||||
|
| |||||||||||
47,943,212 | ||||||||||||
|
| |||||||||||
Water0.2% | ||||||||||||
American Water Capital Corp. | 05/01/50 | 2,385,000 | 2,663,544 | |||||||||
|
| |||||||||||
Total Corporate Bonds (Cost: $380,103,796) | 408,061,756 | |||||||||||
|
| |||||||||||
MUNICIPAL BONDS0.6% | ||||||||||||
City of New York NY, General Obligation Unlimited | ||||||||||||
1.82% | 08/01/30 | 1,325,000 | 1,336,540 | |||||||||
3.00% | 08/01/34 | 380,000 | 411,919 | |||||||||
Los Angeles Unified School District/CA, General Obligation | 07/01/29 | 2,500,000 | 3,150,557 | |||||||||
Metropolitan Transportation Authority, Revenue Bond | 11/15/49 | 335,000 | 453,054 | |||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bond | ||||||||||||
2.00% | 08/01/35 | 1,000,000 | 975,005 | |||||||||
2.40% | 11/01/32 | 585,000 | 606,771 | |||||||||
Regents of the University of California Medical Center Pooled, Revenue Bond | 05/15/60 | 3,115,000 | 3,441,872 | |||||||||
|
| |||||||||||
Total Municipal Bonds (Cost: $9,631,699) | 10,375,718 | |||||||||||
|
| |||||||||||
ASSET-BACKED SECURITIES4.6% | ||||||||||||
321 Henderson Receivables I LLC | 01/17/73 | 1,263,915 | 1,442,330 | |||||||||
321 Henderson Receivables I LLC (14-2A-A) | 01/17/73 | 1,521,777 | 1,710,578 | |||||||||
AGL CLO, Ltd. (20-7A-BR) | 07/15/34 | 4,385,000 | 4,388,078 | |||||||||
AMMC CLO XIII, Ltd. (13-13A-A1R2) | 07/24/29 | 4,500,000 | 4,503,375 | |||||||||
Babson CLO, Ltd. (16-2A-AR) | 07/20/28 | 2,385,853 | 2,387,258 |
TCW Core Fixed Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
BDS, Ltd. (19-FL4-A) | 08/15/36 | $ | 5,645,000 | $ | 5,652,282 | |||||||
Brazos Education Loan Authority, Inc. (12-1-A1) | 12/26/35 | 598,158 | 594,609 | |||||||||
Brazos Higher Education Authority, Inc. (10-1-A2) | 02/25/35 | 675,000 | 691,343 | |||||||||
Brazos Higher Education Authority, Inc. (11-1-A3) | 11/25/33 | 1,695,000 | 1,725,425 | |||||||||
Dryden XXVI Senior Loan Fund (13-26A-AR) | 04/15/29 | 2,164,514 | 2,162,674 | |||||||||
Educational Funding of the South, Inc. (11-1-A2) | 04/25/35 | 769,555 | 768,373 | |||||||||
Educational Services of America, Inc. (12-2-A) | 04/25/39 | 384,728 | 387,442 | |||||||||
Global SC Finance SRL (14-1A-A2) | 07/17/29 | 925,500 | 934,438 | |||||||||
GoldenTree Loan Opportunities IX, Ltd. (14-9A-AR2) | 10/29/29 | 3,100,000 | 3,105,459 | |||||||||
Higher Education Funding I (14-1-A) | 05/25/34 | 1,677,488 | 1,685,180 | |||||||||
Navient Student Loan Trust (14-3-A) | 03/25/83 | 3,099,783 | 3,093,682 | |||||||||
Navient Student Loan Trust (14-4-A) | 03/25/83 | 1,580,000 | 1,576,455 | |||||||||
Nelnet Student Loan Trust (14-4A-A2) | 11/25/48 | 2,965,000 | 3,023,862 | |||||||||
OCP CLO, Ltd. (20-19A-A1) | 07/20/31 | 3,600,000 | 3,601,800 | |||||||||
Octagon Investment Partners XIV, Ltd. (12-1A-AARR) | 07/15/29 | 4,100,000 | 4,096,269 | |||||||||
PHEAA Student Loan Trust (15-1A-A) | 10/25/41 | 1,294,955 | 1,288,203 | |||||||||
Skyline Trust (2020-1 A) | 07/03/38 | 4,886,543 | 4,967,660 | |||||||||
SLM Student Loan Trust (03-7A-A5A) | 12/15/33 | 2,263,616 | 2,270,533 | |||||||||
SLM Student Loan Trust (08-2-B) | 01/25/83 | 710,000 | 675,684 | |||||||||
SLM Student Loan Trust (08-3-B) | 04/26/83 | 710,000 | 666,607 | |||||||||
SLM Student Loan Trust (08-4-A4) | 07/25/22 | 3,844,297 | 3,917,959 | |||||||||
SLM Student Loan Trust (08-4-B) | 04/25/73 | 710,000 | 713,938 | |||||||||
SLM Student Loan Trust (08-5-B) | 07/25/73 | 710,000 | 703,132 | |||||||||
SLM Student Loan Trust (08-6-A4) | 07/25/23 | 3,192,083 | 3,195,230 | |||||||||
SLM Student Loan Trust (08-6-B) | 07/26/83 | 710,000 | 699,813 | |||||||||
SLM Student Loan Trust (08-7-B) | 07/26/83 | 710,000 | 713,105 | |||||||||
SLM Student Loan Trust (08-8-B) | 10/25/75 | 710,000 | 717,873 | |||||||||
SLM Student Loan Trust (08-9-A) | 04/25/23 | 1,147,409 | 1,155,430 | |||||||||
SLM Student Loan Trust (08-9-B) | 10/25/83 | 710,000 | 717,400 | |||||||||
SLM Student Loan Trust (11-2-A2) | 10/25/34 | 2,000,000 | 2,033,106 | |||||||||
SLM Student Loan Trust (12-7-A3) | 05/26/26 | 1,731,874 | 1,699,580 | |||||||||
Tricon American Homes Trust (17-SFR1-A) | 09/17/34 | 4,802,670 | 4,816,745 | |||||||||
|
| |||||||||||
Total Asset-backed Securities (Cost: $77,582,342) | 78,482,910 | |||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESAGENCY0.5% | ||||||||||||
Fannie Mae, Pool #AN0245 | 11/01/35 | 1,980,096 | 2,265,687 | |||||||||
Fannie Mae, Pool #BL6060 | 04/01/40 | 1,840,000 | 1,962,732 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K155-A3) | 04/25/33 | 4,045,000 | 4,894,310 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesAgency (Cost: $7,985,441) | 9,122,729 | |||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESNON-AGENCY1.7% | ||||||||||||
BAMLL Commercial Mortgage Securities Trust (18-PARK-A) | 08/10/38 | 1,930,000 | 2,233,266 | |||||||||
BX Trust (19-OC11-A) | 12/09/41 | 585,000 | 642,109 | |||||||||
CALI Mortgage Trust (19-101C-A) | 03/10/39 | 1,285,000 | 1,483,705 | |||||||||
Citigroup Commercial Mortgage Trust (20-WSS-A) | 02/15/39 | 3,905,573 | 4,062,638 |
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
COMM 2015-CCRE27 Mortgage Trust (15-CR27-A3) | 10/10/48 | $ | 4,795,904 | $ | 5,148,464 | |||||||
CPT Mortgage Trust (19-CPT-A) | 11/13/39 | 1,105,000 | 1,193,249 | |||||||||
DC Office Trust (19-MTC-A) | 09/15/45 | 1,180,000 | 1,280,041 | |||||||||
Hudson Yards Mortgage Trust (19-30HY-A) | 07/10/39 | 2,185,000 | 2,414,674 | |||||||||
Hudson Yards Mortgage Trust (19-55HY-A) | 12/10/41 | 1,180,000 | 1,288,539 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (19-OSB-A) | 06/05/39 | 1,160,000 | 1,296,413 | |||||||||
Manhattan West Mortgage Trust (20-1MW-A) | 09/10/39 | 1,720,000 | 1,782,321 | |||||||||
MKT Mortgage Trust (20-525M-A) | 02/12/40 | 1,540,000 | 1,636,887 | |||||||||
Natixis Commercial Mortgage Securities Trust (20-2PAC-A) | 12/15/38 | 1,215,000 | 1,277,264 | |||||||||
One Bryant Park Trust (19-OBP-A) | 09/15/54 | 1,495,000 | 1,577,194 | |||||||||
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A1) | 01/05/43 | 1,710,000 | 1,797,003 | |||||||||
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2B) | 01/05/43 | 70,000 | 78,176 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesNon-Agency (Cost: $27,860,770) |
| 29,191,943 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESAGENCY31.7% |
| |||||||||||
Fannie Mae, Pool #BN7755 | 09/01/49 | 3,993,666 | 4,266,912 | |||||||||
Fannie Mae, Pool #FM2318 | 09/01/49 | 426,359 | 461,551 | |||||||||
Fannie Mae, Pool #MA4152 | 10/01/40 | 6,711,686 | 6,903,860 | |||||||||
Fannie Mae, Pool #MA4387 | 07/01/41 | 3,388,350 | 3,488,779 | |||||||||
Fannie Mae (19-79-FA) | 01/25/50 | 2,292,678 | 2,311,537 | |||||||||
Fannie Mae (01-14-SH) (I/F) | 03/25/30 | 76,442 | 123,461 | |||||||||
Fannie Mae (01-34-FV) | 08/25/31 | 104,097 | 104,676 | |||||||||
Fannie Mae (04-W10-A6) (PAC) | 08/25/34 | 1,033,622 | 1,147,386 | |||||||||
Fannie Mae (07-89-GF) | 09/25/37 | 422,022 | 427,290 | |||||||||
Fannie Mae (08-30-SA) (I/O) (I/F) | 04/25/38 | 74,733 | 17,845 | |||||||||
Fannie Mae (08-62-SN) (I/O) (I/F) | 07/25/38 | 63,943 | 10,398 | |||||||||
Fannie Mae (09-64-TB) | 08/25/29 | 892,842 | 956,789 | |||||||||
Fannie Mae (09-68-SA) (I/O) (I/F) | 09/25/39 | 57,551 | 12,602 | |||||||||
Fannie Mae (10-26-AS) (I/O) (I/F) | 03/25/40 | 787,406 | 126,913 | |||||||||
Fannie Mae (11-111-DB) | 11/25/41 | 1,889,816 | 2,078,406 | |||||||||
Fannie Mae (18-38-LA) | 06/25/48 | 1,555,640 | 1,627,143 | |||||||||
Fannie Mae (18-43-CT) | 06/25/48 | 1,168,447 | 1,225,700 | |||||||||
Fannie Mae, Pool #254634 | 02/01/23 | 2,170 | 2,419 | |||||||||
Fannie Mae, Pool #596686 | 11/01/31 | 9,906 | 11,221 | |||||||||
Fannie Mae, Pool #727575 | 06/01/33 | 27,008 | 29,603 | |||||||||
Fannie Mae, Pool #748751 | 10/01/33 | 37,315 | 39,260 | |||||||||
Fannie Mae, Pool #AB2127 | 01/01/26 | 390,643 | 417,726 | |||||||||
Fannie Mae, Pool #AL0209 | 05/01/41 | 432,479 | 487,435 | |||||||||
Fannie Mae, Pool #AL0851 | 10/01/40 | 408,605 | 485,853 | |||||||||
Fannie Mae, Pool #AS9830 | 06/01/47 | 990,505 | 1,063,882 | |||||||||
Fannie Mae, Pool #CA1710 | 05/01/48 | 2,419,318 | 2,614,082 | |||||||||
Fannie Mae, Pool #CA1711 | 05/01/48 | 1,687,944 | 1,827,664 | |||||||||
Fannie Mae, Pool #CA2208 | 08/01/48 | 1,547,347 | 1,672,021 | |||||||||
Fannie Mae, Pool #CA2327 | 09/01/48 | 670,768 | 738,504 | |||||||||
Fannie Mae, Pool #FM2870 | 03/01/50 | 2,609,197 | 2,788,738 | |||||||||
Fannie Mae, Pool #MA1146 | 08/01/42 | 963,803 | 1,062,459 | |||||||||
Fannie Mae, Pool #MA1561 | 09/01/33 | 1,779,978 | 1,902,257 | |||||||||
Fannie Mae, Pool #MA1584 | 09/01/33 | 2,653,231 | 2,865,328 | |||||||||
Fannie Mae, Pool #MA3182 | 11/01/47 | 513,413 | 547,396 | |||||||||
Fannie Mae, Pool #MA4093 | 08/01/40 | 5,602,215 | 5,767,386 | |||||||||
Freddie Mac, Pool #SD0231 | 01/01/50 | 5,963,256 | 6,373,591 | |||||||||
Freddie Mac, Pool #ZM1779 | 09/01/46 | 1,709,938 | 1,807,173 | |||||||||
Freddie Mac (2439-KZ) | 04/15/32 | 83,914 | 98,150 | |||||||||
Freddie Mac (2575-FD) (PAC) | 02/15/33 | 208,346 | 210,629 | |||||||||
Freddie Mac (2662-MT) (TAC) | 08/15/33 | 100,573 | 109,331 | |||||||||
Freddie Mac (3315-S) (I/O) (I/F) | 05/15/37 | 14,139 | 1,996 | |||||||||
Freddie Mac (3339-JS) (I/F) | 07/15/37 | 309,164 | 671,145 | |||||||||
Freddie Mac (3351-ZC) | 07/15/37 | 210,899 | 246,010 |
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Freddie Mac (3380-SM) (I/O) (I/F) | 10/15/37 | $ | 334,155 | $ | 68,566 | |||||||
Freddie Mac (3382-FL) | 11/15/37 | 87,641 | 87,183 | |||||||||
Freddie Mac (3439-SC) (I/O) (I/F) | 04/15/38 | 1,305,006 | 207,988 | |||||||||
Freddie Mac (3578-DI) (I/O) (I/F) | 04/15/36 | 489,775 | 89,396 | |||||||||
Freddie Mac (4818-CA) | 04/15/48 | 802,029 | 838,996 | |||||||||
Freddie Mac, Pool #A97179 | 03/01/41 | 1,332,789 | 1,508,822 | |||||||||
Freddie Mac, Pool #C90526 | 02/01/22 | 341 | 342 | |||||||||
Freddie Mac, Pool #G06360 | 03/01/41 | 1,633,963 | 1,836,861 | |||||||||
Freddie Mac, Pool #G06498 | 04/01/41 | 1,136,692 | 1,267,623 | |||||||||
Freddie Mac, Pool #G06499 | 03/01/41 | 766,200 | 845,785 | |||||||||
Freddie Mac, Pool #G07849 | 05/01/44 | 920,867 | 1,007,248 | |||||||||
Freddie Mac, Pool #G07924 | 01/01/45 | 1,449,640 | 1,582,450 | |||||||||
Freddie Mac, Pool #G08710 | 06/01/46 | 1,833,273 | 1,938,268 | |||||||||
Freddie Mac, Pool #G08711 | 06/01/46 | 3,200,861 | 3,422,301 | |||||||||
Freddie Mac, Pool #G08715 | 08/01/46 | 3,489,084 | 3,688,911 | |||||||||
Freddie Mac, Pool #G08716 | 08/01/46 | 2,183,013 | 2,334,037 | |||||||||
Freddie Mac, Pool #G08721 | 09/01/46 | 2,839,301 | 3,001,914 | |||||||||
Freddie Mac, Pool #G08722 | 09/01/46 | 865,135 | 924,986 | |||||||||
Freddie Mac, Pool #G08726 | 10/01/46 | 2,722,194 | 2,878,101 | |||||||||
Freddie Mac, Pool #G08732 | 11/01/46 | 2,722,284 | 2,878,195 | |||||||||
Freddie Mac, Pool #G08792 | 12/01/47 | 2,365,178 | 2,516,665 | |||||||||
Freddie Mac, Pool #G08816 | 06/01/48 | 455,405 | 483,145 | |||||||||
Freddie Mac, Pool #G08826 | 06/01/48 | 539,442 | 589,368 | |||||||||
Freddie Mac, Pool #G08843 | 10/01/48 | 1,935,698 | 2,088,234 | |||||||||
Freddie Mac, Pool #G16584 | 08/01/33 | 1,968,958 | 2,103,631 | |||||||||
Freddie Mac, Pool #G18592 | 03/01/31 | 990,782 | 1,047,610 | |||||||||
Freddie Mac, Pool #G18670 | 12/01/32 | 651,360 | 687,558 | |||||||||
Freddie Mac, Pool #G18713 | 11/01/33 | 1,300,755 | 1,389,729 | |||||||||
Freddie Mac, Pool #G60038 | 01/01/44 | 1,324,548 | 1,434,257 | |||||||||
Freddie Mac, Pool #G60344 | 12/01/45 | 718,817 | 795,744 | |||||||||
Freddie Mac, Pool #G67700 | 08/01/46 | 1,113,588 | 1,213,523 | |||||||||
Freddie Mac, Pool #G67703 | 04/01/47 | 6,705,082 | 7,300,517 | |||||||||
Freddie Mac, Pool #G67706 | 12/01/47 | 4,353,243 | 4,737,105 | |||||||||
Freddie Mac, Pool #G67707 | 01/01/48 | 8,615,231 | 9,527,896 | |||||||||
Freddie Mac, Pool #G67708 | 03/01/48 | 7,894,323 | 8,604,771 | |||||||||
Freddie Mac, Pool #G67710 | 03/01/48 | 6,383,231 | 6,879,144 | |||||||||
Freddie Mac, Pool #G67711 | 03/01/48 | 2,359,959 | 2,595,533 | |||||||||
Freddie Mac, Pool #G67718 | 01/01/49 | 2,337,280 | 2,550,944 | |||||||||
Freddie Mac, Pool #Q05261 | 12/01/41 | 1,410,431 | 1,554,340 | |||||||||
Freddie Mac, Pool #Q20178 | 07/01/43 | 2,661,505 | 2,967,476 | |||||||||
Freddie Mac, Pool #SD7513 | 04/01/50 | 790,328 | 860,603 | |||||||||
Freddie Mac, Pool #ZT1703 | 01/01/49 | 1,591,340 | 1,736,513 | |||||||||
Ginnie Mae (08-27-SI) (I/O) (I/F) | 03/20/38 | 204,237 | 45,771 | |||||||||
Ginnie Mae (08-81-S) (I/O) (I/F) | 09/20/38 | 806,051 | 171,163 | |||||||||
Ginnie Mae (10-1-S) (I/O) (I/F) | 01/20/40 | 1,208,888 | 125,657 | |||||||||
Ginnie Mae (18-124-NW) | 09/20/48 | 1,282,977 | 1,379,016 | |||||||||
Ginnie Mae, Pool #608259 | 08/15/33 | 27,677 | 31,021 | |||||||||
Ginnie Mae, Pool #782114 | 09/15/36 | 80,707 | 93,054 | |||||||||
Ginnie Mae, Pool #MA3662 | 05/20/46 | 628,701 | 663,513 | |||||||||
Ginnie Mae, Pool #MA4127 | 12/20/46 | 1,998,228 | 2,125,831 | |||||||||
Ginnie Mae II, Pool #MA6030 | 07/20/49 | 214,762 | 221,500 | |||||||||
Ginnie Mae II, Pool #MA3521 | 03/20/46 | 1,479,090 | 1,571,021 | |||||||||
Ginnie Mae II, Pool #MA3597 | 04/20/46 | 1,433,315 | 1,522,401 | |||||||||
Ginnie Mae II, Pool #MA3663 | 05/20/46 | 1,427,693 | 1,516,431 | |||||||||
Ginnie Mae II, Pool #MA4126 | 12/20/46 | 3,749,360 | 3,956,971 | |||||||||
Ginnie Mae II, Pool #MA4196 | 01/20/47 | 1,197,910 | 1,271,991 | |||||||||
Ginnie Mae II, Pool #MA4454 | 05/20/47 | 503,548 | 551,507 | |||||||||
Ginnie Mae II, Pool #MA4510 | 06/20/47 | 602,713 | 638,667 | |||||||||
Ginnie Mae II, Pool #MA4589 | 07/20/47 | 1,287,355 | 1,411,152 | |||||||||
Ginnie Mae II, Pool #MA4722 | 09/20/47 | 431,201 | 472,667 | |||||||||
Ginnie Mae II, Pool #MA4777 | 10/20/47 | 469,282 | 494,926 | |||||||||
Ginnie Mae II, Pool #MA4836 | 11/20/47 | 1,841,213 | 1,944,894 |
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Ginnie Mae II, Pool #MA4837 | 11/20/47 | $ | 3,994,834 | $ | 4,232,558 | |||||||
Ginnie Mae II, Pool #MA4838 | 11/20/47 | 1,179,568 | 1,262,536 | |||||||||
Ginnie Mae II, Pool #MA4901 | 12/20/47 | 2,006,467 | 2,143,819 | |||||||||
Ginnie Mae II, Pool #MA5078 | 03/20/48 | 1,505,584 | 1,605,528 | |||||||||
Ginnie Mae II, Pool #MA5399 | 08/20/48 | 3,089,264 | 3,305,266 | |||||||||
Ginnie Mae II, Pool #MA5466 | 09/20/48 | 99,569 | 105,810 | |||||||||
Ginnie Mae II, Pool #MA5467 | 09/20/48 | 189,388 | 202,656 | |||||||||
Ginnie Mae II, Pool #MA6209 | 10/20/49 | 1,198,087 | 1,233,343 | |||||||||
Ginnie Mae II TBA, 30 Year | ||||||||||||
2.00%(6) | 10/31/50 | 15,625,000 | 15,977,173 | |||||||||
2.50%(6) | 12/01/50 | 21,950,000 | 22,777,984 | |||||||||
Uniform Mortgage-Backed Securities TBA, 15 Year | ||||||||||||
1.50%(6) | 03/02/36 | 20,150,000 | 20,516,925 | |||||||||
2.00%(6) | 03/02/36 | 27,650,000 | 28,663,338 | |||||||||
Uniform Mortgage-Backed Securities TBA, 30 Year | ||||||||||||
2.00%(6) | 01/31/51 | 138,900,000 | 141,379,580 | |||||||||
2.50%(6) | 01/31/51 | 122,575,000 | 127,407,740 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesAgency (Cost: $532,650,751) |
| 544,228,196 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESNON-AGENCY3.1% |
| |||||||||||
Aames Mortgage Investment Trust (06-1-A4) | 04/25/36 | 2,132,712 | 2,122,923 | |||||||||
Aegis Asset Backed Securities Trust (05-5-2A) | 12/25/35 | 446,137 | 446,620 | |||||||||
Ajax Mortgage Loan Trust (19-F-A1) | 07/25/59 | 3,210,741 | 3,250,600 | |||||||||
Centex Home Equity (02-C-AF6) | 09/25/32 | 1 | 1 | |||||||||
CIM Trust (17-7-A) | 04/25/57 | 2,462,338 | 2,503,771 | |||||||||
Citigroup Mortgage Loan Trust, Inc. (05-5-2A2) | 08/25/35 | 250,108 | 203,731 | |||||||||
Credit Suisse First Boston Mortgage Securities Corp. (03-8-4PPA) | 04/22/33 | 6,693 | 6,997 | |||||||||
CSMC Series, Ltd. (10-3R-2A3) | 12/26/36 | 1,203,051 | 1,216,949 | |||||||||
CSMC Series, Ltd. (15-5R-1A1) | 09/27/46 | 1,175,291 | 1,177,734 | |||||||||
CSMC Trust (14-7R-8A1) | 07/27/37 | 474,838 | 474,810 | |||||||||
CSMC Trust (18-RPL9-A) | 09/25/57 | 3,409,167 | 3,578,490 | |||||||||
GS Mortgage-Backed Securities Trust (18-RPL1-A1A) | 10/25/57 | 3,396,424 | 3,488,477 | |||||||||
GSAA Home Equity Trust (05-11-2A2) | 10/25/35 | 1,335,887 | 1,328,617 | |||||||||
Indymac Index Mortgage Loan Trust (05-AR6-2A1) | 04/25/35 | 598,958 | 553,183 | |||||||||
Mid-State Trust (04-1-B) | 08/15/37 | 618,868 | 697,355 | |||||||||
Morgan Stanley Capital, Inc. (04-WMC2-M1) | 07/25/34 | 781,536 | 755,114 | |||||||||
Morgan Stanley Mortgage Loan Trust (04-3-4A) | 04/25/34 | 115,749 | 123,652 | |||||||||
New Century Home Equity Loan Trust (05-D-A1) | 02/25/36 | 2,752,245 | 2,740,337 | |||||||||
Option One Mortgage Loan Trust (05-2-M1) | 05/25/35 | 1,677,044 | 1,677,440 | |||||||||
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates (05-WCW2-M3) | 07/25/35 | 10,000,000 | 9,972,535 | |||||||||
RASC Series Trust (06-KS7-A4) | 09/25/36 | 1,109,098 | 1,107,097 | |||||||||
Structured Asset Investment Loan Trust (04-6-A3) | 07/25/34 | 2,553,328 | 2,387,048 | |||||||||
Structured Asset Securities Corp. (03-34A-5A4) | 11/25/33 | 221,446 | 223,997 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR15-A1A1) | 11/25/45 | 5,332,211 | 5,183,108 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR3-A2) | 03/25/35 | 722,920 | 752,931 | |||||||||
Wells Fargo Alternative Loan Trust (07-PA3-2A1) | 07/25/37 | 60,243 | 60,478 | |||||||||
Wells Fargo Home Equity Asset-Backed Securities Trust (05-3-M6) | 11/25/35 | 4,087,681 | 4,084,430 | |||||||||
Wells Fargo Home Equity Trust (04-2-A33) | 10/25/34 | 2,864,330 | 2,843,857 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesNon-Agency (Cost: $51,696,035) |
| 52,962,282 | ||||||||||
|
| |||||||||||
U.S. TREASURY SECURITIES41.2% | ||||||||||||
U.S. Treasury Bond | ||||||||||||
1.88% | 02/15/41 | 19,424,000 | 19,657,695 | |||||||||
2.38% | 05/15/51 | 97,680,000 | 108,203,496 | |||||||||
U.S. Treasury Note | ||||||||||||
0.13% | 04/30/23 | 13,950,000 | 13,942,371 | |||||||||
0.13% | 05/31/23 | 161,620,000 | 161,506,362 | |||||||||
0.13% | 06/30/23 | 72,820,000 | 72,760,265 | |||||||||
0.13% | 07/31/23 | 88,590,000 | 88,477,531 | |||||||||
0.63% | 07/31/26 | 56,615,000 | 56,418,175 | |||||||||
0.75% | 05/31/26 | 67,436,000 | 67,680,982 | |||||||||
0.88% | 06/30/26 | 66,525,000 | 67,140,686 | |||||||||
1.63% | 05/15/31 | 17,790,000 | 18,444,616 | |||||||||
1.75% | 11/30/21 | 32,500,000 | 32,680,908 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $698,060,485) |
| 706,913,087 | ||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $1,785,571,319) |
| 1,839,338,621 | ||||||||||
|
| |||||||||||
PURCHASED OPTIONS(8) (0.0%) (Cost: $463,013) |
| 422,077 | ||||||||||
|
|
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Shares | Value | ||||||||||
MONEY MARKET INVESTMENTS9.4% | ||||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, | 160,355,972 | $ | 160,355,972 | |||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $160,355,972) | 160,355,972 | |||||||||||
|
| |||||||||||
Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS11.2% | ||||||||||||
DISCOUNT NOTE2.2% (Cost: $36,997,755) | ||||||||||||
Federal Home Loan Bank Discount Note | 08/18/21 | $ | 37,000,000 | 36,999,671 | ||||||||
|
| |||||||||||
U.S. TREASURY SECURITIES9.0% | ||||||||||||
U.S. Treasury Bill | ||||||||||||
0.05%(10) | 01/06/22 | 20,000,000 | 19,995,639 | |||||||||
0.02%(10) | 08/12/21 | 135,000,000 | 134,998,873 | |||||||||
Total U.S. Treasury Securities (Cost: $154,993,835) |
| 154,994,512 | ||||||||||
|
| |||||||||||
Total Short Term Investments (Cost: $191,991,590) | 191,994,183 | |||||||||||
|
| |||||||||||
Total Investments (127.8%) (Cost: $2,138,381,894) |
| 2,192,110,853 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-27.8%) |
| (476,278,208 | ) | |||||||||
|
| |||||||||||
Net Assets (100.0%) |
| $ | 1,715,832,645 | |||||||||
|
|
FUTURES CONTRACTS |
| |||||||||||||||||
Number of | Type | Expiration Date | Notional | Market Value | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Long Futures | ||||||||||||||||||
12 | U.S. Ultra Long Bond Futures | 09/21/21 | $ | 2,212,518 | $ | 2,394,375 | $ | 181,857 | ||||||||||
|
|
|
|
|
| |||||||||||||
Short Futures | ||||||||||||||||||
138 | 2-Year U.S. Treasury Note Futures | 09/30/21 | $ | (30,458,916 | ) | $ | (30,450,563 | ) | $ | 8,353 | ||||||||
|
|
|
|
|
|
PURCHASED SWAPTIONSOTC |
| |||||||||||||||||||||||||||||
Description | Counterparty | Exercise Price | Expiration Date | Number of Contracts | Notional Amount | Market Value | Premiums Paid (Received) by Fund | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
Put |
| |||||||||||||||||||||||||||||
3-Year 30-Year Interest Rate Swap | Citibank N.A. | 2.75 | % | 1/19/24 | 6,580,000 | $ | 6,580,000 | $ | 192,577 | $ | 194,110 | $ | (1,533 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
PURCHASED OPTIONSEXCHANGE TRADED |
| |||||||||||||||||||||||||||
Description | Exercise Price | Expiration Date | Number of Contracts | Notional Amount | Market Value | Premiums Paid (Received) by Fund | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
Put |
| |||||||||||||||||||||||||||
Eurodollar Futures | 99 | 12/10/21 | 1,275,000 | $ | 1,275,000 | $ | 229,500 | $ | 268,903 | $ | (39,403 | ) | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||||||||
WRITTEN OPTIONSEXCHANGE TRADED |
| |||||||||||||||||||||||||||
Description | Exercise Price | Expiration Date | Number of Contracts | Notional Amount | Market Value | Premiums Paid (Received) by Fund | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
Put |
| |||||||||||||||||||||||||||
Eurodollar Futures | 98.75 | 12/10/21 | (2,550,000 | ) | $ | (2,550,000 | ) | $ | (140,250 | ) | (188,945 | ) | $ | 48,695 | ||||||||||||||
|
|
|
|
|
|
|
|
TCW Core Fixed Income Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
CENTRALLY CLEAREDINTEREST RATE SWAP AGREEMENTS |
| |||||||||||||||||||||||
Notional Amount | Expiration Date | Payment Frequency | Payment Made by Fund | Payment Received by Fund | Unrealized Appreciation | Premium Paid | Value | |||||||||||||||||
$38,150,000(11) | 07/24/25 | Quarterly | 3-Month USD LIBOR | 1.026% | $ | (6,611 | ) | $ | | $ | (6,611 | ) | ||||||||||||
28,215,000(11) | 07/24/25 | Quarterly | 3-Month USD LIBOR | 1.034% | (426 | ) | | (426 | ) | |||||||||||||||
19,075,000(11) | 07/24/25 | Quarterly | 3-Month USD LIBOR | 1.073% | 14,423 | | 14,423 | |||||||||||||||||
2,355,000(11) | 07/24/53 | Quarterly | 1.785% | 3-Month USD LIBOR | 5,094 | | 5,094 | |||||||||||||||||
1,595,000(11) | 07/24/53 | Quarterly | 1.807% | 3-Month USD LIBOR | (5,224 | ) | | (5,224 | ) | |||||||||||||||
3,190,000(11) | 07/24/53 | Quarterly | 1.772% | 3-Month USD LIBOR | 16,538 | | 16,538 | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
$ | 23,794 | $ | | $ | 23,794 | |||||||||||||||||||
|
|
|
|
|
|
TCW Core Fixed Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Notes to the Schedule of Investments:
ABS | Asset-Backed Securities. | |
CLO | Collateralized Loan Obligation. | |
EETC | Enhanced Equipment Trust Certificate. | |
I/F | Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates. | |
I/O | Interest Only Security. | |
PAC | Planned Amortization Class. | |
REIT | Real Estate Investment Trust. | |
SOFR | Secured Overnight Financing Rate. | |
TAC | Target Amortization Class. | |
TBA | To Be Announced. | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $197,886,027 or 11.5% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |
(2) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |
(3) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |
(4) | Restricted security (Note 3). | |
(5) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |
(6) | Security purchased on a forward commitment with an approximate principal amount. The actual principal amount and maturity date will be determined upon settlement when the security is delivered. | |
(7) | A portion of the principal balance has been written-off during the period due to defaults in the underlying loans. Cost basis has been adjusted. | |
(8) | See options table for description of purchased options. | |
(9) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |
(10) | Rate shown represents yield-to-maturity. | |
(11) | This instrument has a forward starting effective date. See Note 2, Significant Accounting Policies in the Notes to Financial Statements for further information. |
TCW Core Fixed Income Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
U.S. Treasury Securities | 50.2 | % | ||
Residential Mortgage-Backed SecuritiesAgency | 31.7 | |||
Corporate Bonds | 23.8 | |||
Money Market Investments | 9.4 | |||
Asset-Backed Securities | 4.6 | |||
Residential Mortgage-Backed SecuritiesNon-Agency | 3.1 | |||
Short Term Investments | 2.2 | |||
Commercial Mortgage-Backed SecuritiesNon-Agency | 1.7 | |||
Municipal Bonds | 0.6 | |||
Commercial Mortgage-Backed SecuritiesAgency | 0.5 | |||
Other* | (27.8 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes capstock, futures, options, swap agreements, pending trades, interest receivable and accrued expenses payable. |
TCW Core Fixed Income Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Corporate Bonds* | $ | | $ | 406,783,142 | $ | 1,278,614 | $ | 408,061,756 | ||||||||
Municipal Bonds | | 10,375,718 | | 10,375,718 | ||||||||||||
Asset-Backed Securities | | 73,515,250 | 4,967,660 | 78,482,910 | ||||||||||||
Commercial Mortgage-Backed Securities Agency | | 9,122,729 | | 9,122,729 | ||||||||||||
Commercial Mortgage-Backed Securities Non-Agency | | 29,191,943 | | 29,191,943 | ||||||||||||
Residential Mortgage-Backed Securities Agency | | 544,228,196 | | 544,228,196 | ||||||||||||
Residential Mortgage-Backed Securities Non-Agency | | 52,962,282 | | 52,962,282 | ||||||||||||
U.S. Treasury Securities | 706,913,087 | | | 706,913,087 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | 706,913,087 | 1,126,179,260 | 6,246,274 | 1,839,338,621 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Purchased Options | 229,500 | 192,577 | | 422,077 | ||||||||||||
Money Market Investments | 160,355,972 | | | 160,355,972 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Short Term Investments | 154,994,512 | 36,999,671 | 191,994,183 | |||||||||||||
Total Investments | $ | 1,022,493,071 | $ | 1,163,371,508 | $ | 6,246,274 | $ | 2,192,110,853 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | 190,210 | | | 190,210 | ||||||||||||
Swap Agreements | ||||||||||||||||
Interest Rate Risk | | 36,055 | | 36,055 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 1,022,683,281 | $ | 1,163,407,563 | $ | 6,246,274 | $ | 2,192,337,118 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Written Options | ||||||||||||||||
Interest Rate Risk | $ | (140,250 | ) | $ | | $ | | $ | (140,250 | ) | ||||||
Swap Agreements | ||||||||||||||||
Interest Rate Risk | | (12,261 | ) | | (12,261 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (140,250 | ) | $ | (12,261 | ) | $ | | $ | (152,511 | ) | |||||
|
|
|
|
|
|
|
|
* | See Schedule of Investments for corresponding industries. |
TCW Emerging Markets Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES95.2% of Net Assets | ||||||||||||
Angola3.6% | ||||||||||||
Angolan Government International Bond | ||||||||||||
8.25%(1) | 05/09/28 | $ | 122,199,000 | $ | 128,845,403 | |||||||
9.13%(1) | 11/26/49 | 85,180,000 | 87,902,353 | |||||||||
9.38%(1) | 05/08/48 | 65,055,000 | 68,404,292 | |||||||||
|
| |||||||||||
Total Angola (Cost: $260,424,845) | 285,152,048 | |||||||||||
|
| |||||||||||
Argentina1.1% | ||||||||||||
Argentine Republic Government International Bond | ||||||||||||
0.50% | 07/09/30 | 54,243,034 | 19,852,950 | |||||||||
1.00% | 07/09/29 | 10,729,397 | 4,130,818 | |||||||||
1.13% | 07/09/35 | 157,680,077 | 51,403,705 | |||||||||
2.50% | 07/09/41 | 38,500,000 | 14,458,675 | |||||||||
|
| |||||||||||
Total Argentina (Cost: $121,936,565) | 89,846,148 | |||||||||||
|
| |||||||||||
Bahrain2.7% | ||||||||||||
Bahrain Government International Bond | ||||||||||||
5.25%(1) | 01/25/33 | 89,555,000 | 86,241,465 | |||||||||
5.45%(2) | 09/16/32 | 12,800,000 | 12,566,592 | |||||||||
5.63%(1) | 09/30/31 | 18,618,000 | 18,648,953 | |||||||||
6.00%(2) | 09/19/44 | 52,390,000 | 49,260,745 | |||||||||
7.50%(2) | 09/20/47 | 42,247,000 | 44,919,545 | |||||||||
|
| |||||||||||
Total Bahrain (Cost: $217,131,213) | 211,637,300 | |||||||||||
|
| |||||||||||
Brazil4.4% | ||||||||||||
Banco do Brasil S.A. 6.25% | 04/15/24 | 12,442,000 | 12,584,212 | |||||||||
Brazilian Government International Bond | ||||||||||||
3.75% | 09/12/31 | 55,925,000 | 55,337,787 | |||||||||
3.88% | 06/12/30 | 70,657,000 | 71,467,436 | |||||||||
CSN Resources S.A. | 06/10/31 | 44,785,000 | 46,464,437 | |||||||||
JBS Finance Luxembourg Sarl | 01/15/32 | 28,205,000 | 28,430,640 | |||||||||
Light Servicos de Eletricidade S.A. / Light Energia S.A. | 06/18/26 | 19,050,000 | 19,337,655 | |||||||||
MC Brazil Downstream Trading Sarl | 06/30/31 | 29,410,000 | 30,687,865 | |||||||||
MV24 Capital B.V. | 06/01/34 | 18,653,923 | 20,356,094 | |||||||||
Petrobras Global Finance B.V. | 06/10/51 | 60,070,000 | 59,319,125 | |||||||||
|
| |||||||||||
Total Brazil (Cost: $342,492,246) | 343,985,251 | |||||||||||
|
| |||||||||||
Chile4.4% | ||||||||||||
AES Andes S.A. 7.13% | 03/26/79 | 41,281,000 | 43,664,771 | |||||||||
Chile Government International Bond | ||||||||||||
2.45% | 01/31/31 | 80,126,000 | 82,077,870 | |||||||||
2.55% | 01/27/32 | 91,035,000 | 93,458,579 | |||||||||
2.55% | 07/27/33 | 33,710,000 | 34,452,294 | |||||||||
3.10% | 05/07/41 | 38,910,000 | 39,457,853 | |||||||||
Interchile S.A. | ||||||||||||
4.50%(1) | 06/30/56 | 34,835,000 | 37,294,351 | |||||||||
VTR Comunicaciones SpA | ||||||||||||
4.38%(1) | 04/15/29 | 19,400,000 | 19,401,940 | |||||||||
|
| |||||||||||
Total Chile (Cost: $346,179,662) | 349,807,658 | |||||||||||
|
| |||||||||||
China2.5% | ||||||||||||
China Evergrande Group | 03/23/22 | 29,021,000 | 15,888,998 | |||||||||
Easy Tactic, Ltd. | 02/27/23 | 39,540,000 | 29,679,712 | |||||||||
ENN Clean Energy International Investment, Ltd. | 05/12/26 | 9,255,000 | 9,423,808 | |||||||||
Fantasia Holdings Group Co., Ltd. | 01/09/23 | 29,300,000 | 23,481,020 | |||||||||
Kaisa Group Holdings Ltd. | 09/28/23 | 27,070,000 | 22,321,922 | |||||||||
Kaisa Group Holdings, Ltd. | 07/23/23 | 19,330,000 | 16,465,294 | |||||||||
New Metro Global, Ltd. | 08/05/23 | 5,656,000 | 5,765,345 | |||||||||
Ronshine China Holdings Ltd. | 12/15/23 | 27,100,000 | 24,288,870 | |||||||||
Studio City Finance, Ltd. | 01/15/29 | 17,800,000 | 17,577,500 | |||||||||
Sunac China Holdings, Ltd. | 07/09/23 | 22,100,000 | 21,395,562 | |||||||||
Yuzhou Group Holdings Co., Ltd. | 10/25/23 | 9,475,000 | 7,508,723 | |||||||||
|
| |||||||||||
Total China (Cost: $229,433,844) | 193,796,754 | |||||||||||
|
| |||||||||||
Colombia3.6% | ||||||||||||
AI Candelaria Spain SLU | 06/15/33 | 37,195,000 | 38,090,005 | |||||||||
Banco Davivienda S.A. | 04/22/31 | 16,225,000 | 17,155,260 | |||||||||
Banco GNB Sudameris S.A. | 04/16/31 | 20,750,000 | 21,301,950 | |||||||||
Colombia Government International Bond | ||||||||||||
3.13% | 04/15/31 | 87,985,000 | 86,436,464 | |||||||||
4.13% | 02/22/42 | 127,540,000 | 122,948,560 | |||||||||
|
| |||||||||||
Total Colombia (Cost: $285,733,290) | 285,932,239 | |||||||||||
|
| |||||||||||
Costa Rica0.8% | ||||||||||||
Costa Rica Government International Bond | ||||||||||||
5.63%(2) | 04/30/43 | 22,835,000 | 21,595,516 | |||||||||
7.00%(2) | 04/04/44 | 32,828,000 | 34,544,904 | |||||||||
7.16%(2) | 03/12/45 | 9,877,000 | 10,516,635 | |||||||||
|
| |||||||||||
Total Costa Rica (Cost: $63,147,000) | 66,657,055 | |||||||||||
|
| |||||||||||
Dominican Republic3.2% | ||||||||||||
Dominican Republic International Bond | ||||||||||||
4.50%(1) | 01/30/30 | 44,701,000 | 46,095,671 | |||||||||
4.88%(1) | 09/23/32 | 89,770,000 | 93,360,800 | |||||||||
5.30%(1) | 01/21/41 | 57,485,000 | 58,527,634 | |||||||||
5.88%(1) | 01/30/60 | 51,530,000 | 52,272,032 | |||||||||
|
| |||||||||||
Total Dominican Republic (Cost: $241,023,356) | 250,256,137 | |||||||||||
|
| |||||||||||
Ecuador1.9% | ||||||||||||
Ecuador Government International Bond | ||||||||||||
0.50%(1) | 07/31/40 | 46,584,695 | 29,057,204 | |||||||||
1.00%(1) | 07/31/35 | 118,559,289 | 82,843,303 | |||||||||
5.00%(2) | 07/31/30 | 43,026,347 | 37,916,968 | |||||||||
|
| |||||||||||
Total Ecuador (Cost: $134,304,593) | 149,817,475 | |||||||||||
|
|
TCW Emerging Markets Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Egypt3.2% | ||||||||||||
Egypt Government International Bond | ||||||||||||
7.05%(1) | 01/15/32 | $ | 84,735,000 | $ | 86,510,198 | |||||||
7.63%(1) | 05/29/32 | 51,854,000 | 54,886,992 | |||||||||
8.50%(2) | 01/31/47 | 63,239,000 | 65,521,928 | |||||||||
8.70%(1) | 03/01/49 | 40,972,000 | 42,909,976 | |||||||||
|
| |||||||||||
Total Egypt (Cost: $243,844,396) | 249,829,094 | |||||||||||
|
| |||||||||||
El Salvador1.3% | ||||||||||||
El Salvador Government International Bond | ||||||||||||
6.38%(2) | 01/18/27 | 43,614,000 | 38,217,204 | |||||||||
7.63%(2) | 02/01/41 | 36,263,000 | 30,789,553 | |||||||||
8.25%(2) | 04/10/32 | 26,535,000 | 24,354,155 | |||||||||
8.63%(2) | 02/28/29 | 8,750,000 | 8,271,484 | |||||||||
|
| |||||||||||
Total El Salvador (Cost: $114,986,931) | 101,632,396 | |||||||||||
|
| |||||||||||
Ghana2.5% | ||||||||||||
Ghana Government International Bond | ||||||||||||
7.63%(2) | 05/16/29 | 19,147,000 | 19,154,659 | |||||||||
7.88%(2) | 02/11/35 | 68,225,000 | 65,530,112 | |||||||||
8.13%(2) | 03/26/32 | 19,045,000 | 19,066,997 | |||||||||
8.88%(2) | 05/07/42 | 40,315,000 | 40,016,669 | |||||||||
8.95%(1) | 03/26/51 | 56,590,000 | 55,295,928 | |||||||||
|
| |||||||||||
Total Ghana (Cost: $205,232,010) | 199,064,365 | |||||||||||
|
| |||||||||||
Guatemala0.6% | ||||||||||||
Banco Industrial S.A. | 01/29/31 | 20,895,000 | 21,763,449 | |||||||||
Guatemala Government Bond | 04/24/32 | 24,329,000 | 27,997,448 | |||||||||
|
| |||||||||||
Total Guatemala (Cost: $48,427,873) | 49,760,897 | |||||||||||
|
| |||||||||||
India1.2% | ||||||||||||
Cliffton, Ltd. | 10/25/25 | 29,025,000 | 27,864,000 | |||||||||
India Green Power Holdings | 02/22/27 | 24,420,000 | 24,438,559 | |||||||||
Network i2i, Ltd. | 01/15/25 | 23,435,000 | 24,635,458 | |||||||||
ReNew Wind Energy | 07/14/28 | 14,632,000 | 14,824,045 | |||||||||
|
| |||||||||||
Total India (Cost: $91,380,873) | 91,762,062 | |||||||||||
|
| |||||||||||
Indonesia4.0% | ||||||||||||
Freeport-McMoRan, Inc. | 08/01/30 | 19,010,000 | 20,913,091 | |||||||||
Indonesia Asahan Aluminium Persero PT | ||||||||||||
4.75%(1) | 05/15/25 | 36,140,000 | 39,692,562 | |||||||||
5.45%(1) | 05/15/30 | 35,250,000 | 41,002,447 | |||||||||
6.53%(1) | 11/15/28 | 37,763,000 | 46,265,151 | |||||||||
Minejesa Capital B.V. | 08/10/37 | 22,695,000 | 24,692,160 | |||||||||
Perusahaan Penerbit SBSN Indonesia III | ||||||||||||
3.55%(1) | 06/09/51 | 28,650,000 | 29,135,618 | |||||||||
3.80%(1) | 06/23/50 | 53,899,000 | 56,523,881 | |||||||||
4.15%(2) | 03/29/27 | 54,470,000 | 61,179,615 | |||||||||
|
| |||||||||||
Total Indonesia (Cost: $303,285,308) | 319,404,525 | |||||||||||
|
| |||||||||||
Iraq0.5% (Cost: $37,890,596) | ||||||||||||
Iraq International Bond | 01/15/28 | 39,493,188 | 37,874,954 | |||||||||
|
| |||||||||||
Israel1.4% | ||||||||||||
Energean Israel Finance, Ltd. | ||||||||||||
4.50%(2) | 03/30/24 | 21,565,000 | 21,995,589 | |||||||||
5.88%(2) | 03/30/31 | 46,392,700 | 47,668,499 | |||||||||
Leviathan Bond, Ltd. | ||||||||||||
6.50%(2) | 06/30/27 | 14,799,000 | 16,320,337 | |||||||||
6.75%(2) | 06/30/30 | 18,624,240 | 20,935,508 | |||||||||
|
| |||||||||||
Total Israel (Cost: $103,380,447) | 106,919,933 | |||||||||||
|
| |||||||||||
Ivory Coast1.4% | ||||||||||||
Ivory Coast Government International Bond | ||||||||||||
4.88%(1) | 01/30/32 | EUR | 64,201,000 | 77,101,296 | ||||||||
6.88%(1) | 10/17/40 | EUR | 27,120,000 | 35,609,140 | ||||||||
|
| |||||||||||
Total Ivory Coast (Cost: $108,665,701) | 112,710,436 | |||||||||||
|
| |||||||||||
Kazakhstan1.7% | ||||||||||||
KazMunayGas National Co. JSC | ||||||||||||
3.50%(1) | 04/14/33 | $ | 73,764,000 | 76,596,538 | ||||||||
5.75%(2) | 04/19/47 | 46,795,000 | 58,274,398 | |||||||||
|
| |||||||||||
Total Kazakhstan (Cost: $130,851,369) | 134,870,936 | |||||||||||
|
| |||||||||||
Lebanon0.2% (Cost: $38,908,368) | ||||||||||||
Lebanon Government International Bond | 05/17/34 | 139,956,000 | 17,668,045 | |||||||||
|
| |||||||||||
Malaysia0.5% (Cost: $40,442,323) | ||||||||||||
Petronas Capital, Ltd. | 04/28/61 | 40,350,000 | 41,980,544 | |||||||||
|
| |||||||||||
Mexico7.2% | ||||||||||||
Banco Mercantil del Norte S.A. | 07/06/22 | 14,020,000 | 14,483,922 | |||||||||
Banco Mercantil del Norte S.A. | 06/27/29 | 20,074,000 | 22,715,738 | |||||||||
Cemex SAB de CV | 06/08/26 | 57,540,000 | 60,190,292 | |||||||||
Mexico Government International Bond | ||||||||||||
2.66% | 05/24/31 | 32,770,000 | 32,242,403 | |||||||||
4.28% | 08/14/41 | 67,856,000 | 71,954,502 | |||||||||
4.75% | 04/27/32 | 21,500,000 | 24,758,218 | |||||||||
Nemak SAB de CV | 06/28/31 | 29,835,000 | 29,918,986 | |||||||||
Petroleos Mexicanos | ||||||||||||
5.35% | 02/12/28 | 37,959,000 | 37,712,267 | |||||||||
5.95% | 01/28/31 | 91,830,000 | 90,383,678 | |||||||||
6.63% | 06/15/35 | 100,086,000 | 97,103,437 | |||||||||
6.75% | 09/21/47 | 102,625,000 | 91,884,267 | |||||||||
|
| |||||||||||
Total Mexico (Cost: $552,260,356) | 573,347,710 | |||||||||||
|
|
TCW Emerging Markets Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Mongolia0.1% (Cost: $4,680,000) | ||||||||||||
Development Bank of Mongolia | 10/23/23 | $ | 4,800,000 | $ | 5,161,392 | |||||||
|
| |||||||||||
Morocco0.5% (Cost: $39,074,329) | ||||||||||||
OCP S.A. | 06/23/51 | 39,150,000 | 40,128,750 | |||||||||
|
| |||||||||||
Nigeria2.7% | ||||||||||||
Nigeria Government International Bond | ||||||||||||
7.14%(1) | 02/23/30 | 40,055,000 | 42,173,910 | |||||||||
7.63%(2) | 11/28/47 | 60,619,000 | 61,188,364 | |||||||||
7.70%(1) | 02/23/38 | 66,872,000 | 68,744,416 | |||||||||
7.88%(2) | 02/16/32 | 38,788,000 | 41,679,451 | |||||||||
|
| |||||||||||
Total Nigeria (Cost: $202,266,861) | 213,786,141 | |||||||||||
|
| |||||||||||
Oman3.0% | ||||||||||||
Oman Government International Bond | ||||||||||||
5.63%(2) | 01/17/28 | 32,054,000 | 33,816,970 | |||||||||
6.00%(2) | 08/01/29 | 42,315,000 | 45,213,578 | |||||||||
6.25%(1) | 01/25/31 | 63,279,000 | 68,513,439 | |||||||||
6.50%(2) | 03/08/47 | 62,300,000 | 62,088,180 | |||||||||
Oryx Funding, Ltd. | 02/03/31 | 26,192,000 | 27,656,316 | |||||||||
|
| |||||||||||
Total Oman (Cost: $222,344,520) | 237,288,483 | |||||||||||
|
| |||||||||||
Pakistan2.0% | ||||||||||||
Pakistan Government International Bond | ||||||||||||
6.00%(1) | 04/08/26 | 17,225,000 | 17,372,877 | |||||||||
6.88%(2) | 12/05/27 | 43,513,000 | 44,659,024 | |||||||||
7.38%(1) | 04/08/31 | 52,285,000 | 52,677,137 | |||||||||
8.88%(1) | 04/08/51 | 41,820,000 | 43,283,700 | |||||||||
|
| |||||||||||
Total Pakistan (Cost: $159,383,858) | 157,992,738 | |||||||||||
|
| |||||||||||
Panama2.2% | ||||||||||||
C&W Senior Financing DAC | 09/15/27 | 19,514,000 | 20,733,625 | |||||||||
Panama Government International Bond | ||||||||||||
2.25% | 09/29/32 | 78,320,000 | 76,138,005 | |||||||||
3.16% | 01/23/30 | 71,264,000 | 75,229,841 | |||||||||
|
| |||||||||||
Total Panama (Cost: $169,844,365) | 172,101,471 | |||||||||||
|
| |||||||||||
Paraguay1.1% | ||||||||||||
Banco Continental SAECA | 12/10/25 | 13,300,000 | 13,171,156 | |||||||||
Paraguay Government International Bond | ||||||||||||
5.40%(1) | 03/30/50 | 10,215,000 | 12,066,571 | |||||||||
5.60%(2) | 03/13/48 | 39,657,000 | 47,320,715 | |||||||||
Republic Of Paraguay Sr Unsecured | 01/29/33 | 16,080,000 | 15,743,285 | |||||||||
|
| |||||||||||
Total Paraguay (Cost: $80,827,967) | 88,301,727 | |||||||||||
|
| |||||||||||
Peru0.5% | ||||||||||||
Cia de Minas Buenaventura SAA | 07/23/26 | 21,820,000 | 21,029,462 | |||||||||
Volcan Cia Minera SAA | 02/11/26 | 19,620,000 | 19,001,381 | |||||||||
|
| |||||||||||
Total Peru (Cost: $41,570,411) | 40,030,843 | |||||||||||
|
| |||||||||||
Philippines1.7% | ||||||||||||
Philippine Government International Bond | ||||||||||||
1.95% | 01/06/32 | 38,540,000 | 38,319,059 | |||||||||
3.20% | 07/06/46 | 93,800,000 | 96,203,234 | |||||||||
|
| |||||||||||
Total Philippines (Cost: $133,330,100) | 134,522,293 | |||||||||||
|
| |||||||||||
Qatar4.8% | ||||||||||||
Ooredoo International Finance, | 04/08/31 | 51,770,000 | 53,292,038 | |||||||||
Qatar Government International Bond | ||||||||||||
3.75%(1) | 04/16/30 | 48,060,000 | 54,780,230 | |||||||||
4.40%(1) | 04/16/50 | 98,844,000 | 122,161,003 | |||||||||
Qatar Petroleum | ||||||||||||
2.25%(1) | 07/12/31 | 57,900,000 | 58,674,470 | |||||||||
3.13%(1) | 07/12/41 | 29,800,000 | 30,992,000 | |||||||||
3.30%(1) | 07/12/51 | 59,025,000 | 61,368,293 | |||||||||
|
| |||||||||||
Total Qatar (Cost: $361,445,083) | 381,268,034 | |||||||||||
|
| |||||||||||
Romania1.5% | ||||||||||||
Romanian Government International Bond | ||||||||||||
2.63%(1) | 12/02/40 | EUR | 48,853,000 | 56,881,325 | ||||||||
3.00%(1) | 02/14/31 | $ | 58,040,000 | 60,409,773 | ||||||||
|
| |||||||||||
Total Romania (Cost: $117,551,843) | 117,291,098 | |||||||||||
|
| |||||||||||
Saudi Arabia4.9% | ||||||||||||
SA Global Sukuk, Ltd. | 06/17/31 | 128,930,000 | 132,701,202 | |||||||||
Saudi Government International Bond | ||||||||||||
2.25%(1) | 02/02/33 | 108,898,000 | 107,318,979 | |||||||||
3.45%(1) | 02/02/61 | 52,475,000 | 52,706,940 | |||||||||
3.75%(2) | 01/21/55 | 89,780,000 | 95,992,103 | |||||||||
|
| |||||||||||
Total Saudi Arabia (Cost: $378,451,356) | 388,719,224 | |||||||||||
|
| |||||||||||
Senegal0.5% (Cost: $44,578,315) | ||||||||||||
Senegal Government International Bond | 06/08/37 | EUR | 36,405,000 | 43,287,740 | ||||||||
|
| |||||||||||
South Africa2.9% | ||||||||||||
Eskom Holdings SOC, Ltd. | ||||||||||||
7.13%(2) | 02/11/25 | $ | 46,065,000 | 48,534,084 | ||||||||
8.45%(2) | 08/10/28 | 37,528,000 | 42,316,573 | |||||||||
Prosus NV | 07/13/31 | 22,030,000 | 21,831,730 | |||||||||
Sasol Financing USA LLC | ||||||||||||
4.38% | 09/18/26 | 18,845,000 | 19,333,085 | |||||||||
5.50% | 03/18/31 | 42,750,000 | 44,740,547 | |||||||||
South Africa Government Bond | 02/28/35 | ZAR | 867,000,000 | 53,719,477 | ||||||||
|
| |||||||||||
Total South Africa (Cost: $229,993,105) | 230,475,496 | |||||||||||
|
| |||||||||||
Sri Lanka0.2% (Cost: $20,935,974) | ||||||||||||
Sri Lanka Government Bond | 04/18/28 | $ | 24,243,000 | 15,068,479 | ||||||||
|
| |||||||||||
Thailand0.6% | ||||||||||||
Bangkok Bank PCL | 09/23/25 | 32,835,000 | 34,624,508 | |||||||||
Krung Thai Bank PCL | 03/25/26 | 8,977,000 | 9,087,417 | |||||||||
|
| |||||||||||
Total Thailand (Cost: $42,003,853) | 43,711,925 | |||||||||||
|
| |||||||||||
Turkey3.6% | ||||||||||||
Akbank TAS | 06/22/31 | 44,247,000 | 44,477,084 |
TCW Emerging Markets Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Turkey Government International Bond | ||||||||||||
4.75% | 01/26/26 | $ | 45,770,000 | $ | 45,330,608 | |||||||
4.88% | 10/09/26 | 71,765,000 | 70,908,485 | |||||||||
5.25% | 03/13/30 | 59,629,000 | 57,309,432 | |||||||||
5.88% | 06/26/31 | 49,700,000 | 48,782,488 | |||||||||
Yapi ve Kredi Bankasi A.S. | 01/22/31 | 18,270,000 | 19,229,175 | |||||||||
|
| |||||||||||
Total Turkey (Cost: $275,540,083) | 286,037,272 | |||||||||||
|
| |||||||||||
Ukraine3.5% | ||||||||||||
Metinvest B.V. | 10/17/29 | 28,129,000 | 31,082,545 | |||||||||
Ukraine Government International Bond | ||||||||||||
1.26%(2),(6) | 05/31/40 | 86,205,000 | 100,758,128 | |||||||||
7.25%(2) | 03/15/33 | 49,237,000 | 50,898,306 | |||||||||
7.38%(2) | 09/25/32 | 26,200,000 | 27,334,788 | |||||||||
7.75%(2) | 09/01/27 | 63,081,000 | 69,223,512 | |||||||||
|
| |||||||||||
Total Ukraine (Cost: $246,987,496) | 279,297,279 | |||||||||||
|
| |||||||||||
United Arab Emirates3.4% | ||||||||||||
Abu Dhabi Government International Bond | 03/02/31 | 86,758,000 | 84,736,539 | |||||||||
DP World Salaam | 10/01/25 | 30,724,000 | 33,666,783 | |||||||||
Galaxy Pipeline Assets Bidco, Ltd. | ||||||||||||
2.16%(1) | 03/31/34 | 33,240,000 | 33,008,317 | |||||||||
2.63%(1) | 03/31/36 | 85,865,000 | 85,298,291 | |||||||||
2.94%(1) | 09/30/40 | 31,115,000 | 31,404,903 | |||||||||
|
| |||||||||||
Total United Arab Emirates (Cost: $265,209,787) | 268,114,833 | |||||||||||
|
| |||||||||||
Uruguay1.0% | ||||||||||||
Uruguay Government International Bond | ||||||||||||
4.38% | 01/23/31 | 36,488,034 | 42,734,786 | |||||||||
4.98% | 04/20/55 | 27,295,527 | 35,342,248 | |||||||||
|
| |||||||||||
Total Uruguay (Cost: $67,019,497) | 78,077,034 | |||||||||||
|
| |||||||||||
Venezuela0.2% | ||||||||||||
Venezuela Government International Bond | ||||||||||||
8.25%(2),(5),(7) | 10/13/24 | 60,057,200 | 6,306,006 | |||||||||
9.25%(5),(7) | 09/15/27 | 60,955,000 | 6,400,275 | |||||||||
9.25%(2),(5),(7) | 05/07/28 | 49,048,000 | 5,150,040 | |||||||||
|
| |||||||||||
Total Venezuela (Cost: $55,533,009) | 17,856,321 | |||||||||||
|
| |||||||||||
Vietnam0.4% (Cost: $31,446,688) | ||||||||||||
Mong Duong Finance Holdings B.V. | 05/07/29 | 31,620,000 | 31,414,470 | |||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $7,451,381,665) | 7,533,647,005 | |||||||||||
|
| |||||||||||
Shares | ||||||||||||
MONEY MARKET INVESTMENTS 3.3% | ||||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, | 259,237,220 | 259,237,220 | ||||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $259,237,220) | 259,237,220 | |||||||||||
|
| |||||||||||
Total Investments (98.5%) (Cost: $7,710,618,885) |
| 7,792,884,225 | ||||||||||
Excess Of Other Assets Over Liabilities (1.5%) |
| 117,053,137 | ||||||||||
|
| |||||||||||
Total Net Assets (100.0%) |
| $ | 7,909,937,362 | |||||||||
|
|
TCW Emerging Markets Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FORWARD CURRENCY EXCHANGE CONTRACTS |
| |||||||||||||||||||||||||||
Counterparty | Contracts to Deliver | Units of Currency | Settlement Date | In Exchange for U.S. Dollars | Contracts at Value | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
SELL(9) | ||||||||||||||||||||||||||||
BNP Paribas S.A. | ZAR | 818,094,041 | 10/04/21 | $ | 56,751,000 | $ | 55,487,703 | $ | 1,263,297 | |||||||||||||||||||
|
|
|
|
|
|
FUTURES CONTRACTS
Number of | Type | Expiration Date | Notional | Market Value | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Short Futures |
| |||||||||||||||||
994 | U.S. Ultra Long Bond Futures | 09/21/21 | $ | (161,130,275 | ) | $ | (163,730,438 | ) | $ | (2,600,163 | ) | |||||||
|
|
|
|
|
|
CREDIT DEFAULT SWAPSBUY PROTECTION
Notional Amount(10) | Expiration Date | Counterparty | Reference Entity | Fixed Deal Pay Rate | Payment Frequency | Unrealized Appreciation (Depreciation) | Premium Paid (Received) | Value(11) | ||||||||||||||||||
OTC Swaps | ||||||||||||||||||||||||||
$85,900,000 | 6/20/26 | Morgan Stanley | Chile Government International Bond 3.24% 02/06/2028 | 1.0% | Quarterly | $ | 484,661 | $ | (1,718,340 | ) | $ | (1,233,679 | ) | |||||||||||||
148,600,000 | 6/20/26 | Barclays Capital Inc. | Federal Republic of Brazil 4.25% 01/07/2025 | 1.0% | Quarterly | (2,240,385 | ) | 7,383,921 | 5,143,536 | |||||||||||||||||
39,375,000 | 6/20/26 | Bank of America | Federal Republic of Brazil 4.25% 01/07/2025 | 1.0% | Quarterly | (868,222 | ) | 2,231,121 | 1,362,899 | |||||||||||||||||
21,820,000 | 6/20/26 | Bank of America | Peruvian Government International Bond 8.75% 11/21/2033 | 1.0% | Quarterly | (14,434 | ) | 38,690 | 24,256 | |||||||||||||||||
21,820,000 | 6/20/26 | Barclays Capital Inc. | Peruvian Government International Bond 8.75% 11/21/2033 | 1.0% | Quarterly | (27,309 | ) | 51,565 | 24,256 | |||||||||||||||||
115,375,000 | 6/20/26 | Barclays Capital Inc. | United Mexican States 4.15% 03/28/2027 | 1.0% | Quarterly | (1,196,820 | ) | 965,309 | (231,511 | ) | ||||||||||||||||
43,375,000 | 6/20/26 | Goldman Sachs International | United Mexican States 4.15% 03/28/2027 | 1.0% | Quarterly | (441,246 | ) | 354,210 | (87,036 | ) | ||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | (4,303,755 | ) | $ | 9,306,476 | $ | 5,002,721 | ||||||||||||||||||||
|
|
|
|
|
|
Notes to the Schedule of Investments:
EUR | Euro Currency. | |
USD | U.S. Dollar. | |
ZAR | South African Rand. | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $3,641,360,859 or 46.0% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |
(2) | Investments issued under Regulation S of the Securities Act of 1933, as amended, may not be offered, sold, or delivered within the United States except under special exemptions. At July 31, 2021, the value of these securities amounted to $1,962,372,552 or 24.8% of net assets. | |
(3) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |
(4) | Perpetual maturity. | |
(5) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. | |
(6) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |
(7) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |
(8) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |
(9) | Fund buys foreign currency, sells U.S. Dollar. | |
(10) | The value of a credit default swap agreement serves as an indicator of the current status of the payments/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the period end. Increasing values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the reference entitys credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreements. | |
(11) | The maximum potential amount the Fund could be required to make as seller of credit protection or receive as buyer of protection if a credit event occurred as defined under the terms of that particular swap agreement. |
TCW Emerging Markets Income Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Auto Parts & Equipment | 0.4 | % | ||
Banks | 3.0 | |||
Building Materials | 0.8 | |||
Chemicals | 1.3 | |||
Commercial Services | 0.4 | |||
Electric | 3.5 | |||
Engineering & Construction | 0.8 | |||
Food | 0.4 | |||
Foreign Government Bonds | 62.2 | |||
Gas | 0.1 | |||
Internet | 0.3 | |||
Iron & Steel | 1.0 | |||
Lodging | 0.2 | |||
Media | 0.2 | |||
Mining | 2.4 | |||
Oil & Gas | 12.3 | |||
Pipelines | 2.4 | |||
Real Estate | 2.1 | |||
Telecommunications | 1.2 | |||
Transportation | 0.2 | |||
Money Market Investments | 3.3 | |||
|
| |||
Total | 98.5 | % | ||
|
|
TCW Emerging Markets Income Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Auto Parts & Equipment | $ | | $ | 29,918,986 | $ | | $ | 29,918,986 | ||||||||
Banks | | 235,755,263 | | 235,755,263 | ||||||||||||
Building Materials | | 60,190,292 | | 60,190,292 | ||||||||||||
Chemicals | | 104,202,382 | | 104,202,382 | ||||||||||||
Commercial Services | | 33,666,783 | | 33,666,783 | ||||||||||||
Electric | | 276,878,634 | | 276,878,634 | ||||||||||||
Engineering & Construction | | 65,158,351 | | 65,158,351 | ||||||||||||
Food | | 28,430,640 | | 28,430,640 | ||||||||||||
Foreign Government Bonds | | 4,899,691,105 | 17,856,321 | 4,917,547,426 | ||||||||||||
Gas | | 9,423,808 | | 9,423,808 | ||||||||||||
Internet | | 21,831,730 | | 21,831,730 | ||||||||||||
Iron & Steel | | 77,546,983 | | 77,546,983 | ||||||||||||
Lodging | | 17,577,500 | | 17,577,500 | ||||||||||||
Media | | 19,401,940 | | 19,401,940 | ||||||||||||
Mining | | 187,904,094 | | 187,904,094 | ||||||||||||
Oil & Gas | | 974,598,016 | | 974,598,016 | ||||||||||||
Pipelines | | 187,801,516 | | 187,801,516 | ||||||||||||
Real Estate | | 166,795,446 | | 166,795,446 | ||||||||||||
Telecommunications | | 98,661,121 | | 98,661,121 | ||||||||||||
Transportation | | 20,356,094 | | 20,356,094 | ||||||||||||
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|
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|
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| |||||||||
Total Fixed Income Securities | | 7,515,790,684 | 17,856,321 | 7,533,647,005 | ||||||||||||
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| |||||||||
Money Market Investments | 259,237,220 | | | 259,237,220 | ||||||||||||
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| |||||||||
Total Investments | $ | 259,237,220 | $ | 7,515,790,684 | $ | 17,856,321 | $ | 7,792,884,225 | ||||||||
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Asset Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | | 1,263,297 | | 1,263,297 | ||||||||||||
Swap Agreements | ||||||||||||||||
Credit Risk | | 6,554,947 | | 6,554,947 | ||||||||||||
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| |||||||||
Total | 259,237,220 | 7,523,608,928 | 17,856,321 | 7,800,702,469 | ||||||||||||
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Liability Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | $ | (2,600,163 | ) | $ | | $ | | $ | (2,600,163 | ) | ||||||
Swap Agreements | ||||||||||||||||
Credit Risk | | (1,552,226 | ) | | (1,552,226 | ) | ||||||||||
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| |||||||||
Total | $ | (2,600,163 | ) | $ | (1,552,226 | ) | $ | | $ | (4,152,389 | ) | |||||
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TCW Emerging Markets Local Currency Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES 89.8% of Net Assets | ||||||||||||
Brazil9.9% | ||||||||||||
Brazil Letras do Tesouro Nacional Bills | 01/01/23 | BRL | 33,815,000 | $ | 5,896,191 | |||||||
Brazil Notas do Tesouro Nacional, Series F | ||||||||||||
10.00% | 01/01/23 | BRL | 53,254,000 | 10,623,354 | ||||||||
10.00% | 01/01/25 | BRL | 23,893,000 | 4,821,497 | ||||||||
10.00% | 01/01/29 | BRL | 22,590,000 | 4,581,951 | ||||||||
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| |||||||||||
Total Brazil (Cost: $26,070,413) | 25,922,993 | |||||||||||
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| |||||||||||
Chile2.0% | ||||||||||||
Bonos de la Tesoreria de la Republica | ||||||||||||
1.50% | 03/01/26 | CLP | 877,822,060 | 1,190,146 | ||||||||
2.00% | 03/01/35 | CLP | 104,148,380 | 139,673 | ||||||||
Bonos de la Tesoreria de la Republica en pesos | ||||||||||||
5.00%(2) | 10/01/28 | CLP | 1,300,000,000 | 1,778,224 | ||||||||
4.70%(2) | 09/01/30 | CLP | 1,345,000,000 | 1,809,544 | ||||||||
5.00% | 03/01/35 | CLP | 295,000,000 | 394,227 | ||||||||
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| |||||||||||
Total Chile (Cost: $5,655,446) | 5,311,814 | |||||||||||
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| |||||||||||
China8.0% | ||||||||||||
Agricultural Development Bank of China | 01/25/29 | CNY | 33,920,000 | 5,413,863 | ||||||||
China Development Bank | ||||||||||||
3.23% | 01/10/25 | CNY | 35,600,000 | 5,587,446 | ||||||||
4.88% | 02/09/28 | CNY | 7,450,000 | 1,265,858 | ||||||||
China Government Bond | ||||||||||||
2.85% | 06/04/27 | CNY | 17,400,000 | 2,704,221 | ||||||||
3.27% | 11/19/30 | CNY | 26,700,000 | 4,272,939 | ||||||||
3.28% | 12/03/27 | CNY | 9,600,000 | 1,532,689 | ||||||||
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| |||||||||||
Total China (Cost: $19,550,515) | 20,777,016 | |||||||||||
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| |||||||||||
Colombia4.3% | ||||||||||||
Colombian TES (Treasury) Bond, Series B | ||||||||||||
6.00% | 04/28/28 | COP | 4,228,800,000 | 1,058,859 | ||||||||
6.25% | 11/26/25 | COP | 8,500,000,000 | 2,247,699 | ||||||||
7.00% | 06/30/32 | COP | 9,200,000,000 | 2,330,982 | ||||||||
7.50% | 08/26/26 | COP | 16,256,000,000 | 4,465,302 | ||||||||
Empresas Publicas de Medellin ESP | ||||||||||||
8.38%(3) | 11/08/27 | COP | 5,000,000,000 | 1,241,338 | ||||||||
|
| |||||||||||
Total Colombia (Cost: $12,311,901) | 11,344,180 | |||||||||||
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| |||||||||||
Czech Republic4.0% | ||||||||||||
Czech Republic Government Bond | ||||||||||||
0.95%(2) | 05/15/30 | CZK | 20,380,000 | 893,471 | ||||||||
1.00%(2) | 06/26/26 | CZK | 92,530,000 | 4,186,206 | ||||||||
2.00% | 10/13/33 | CZK | 66,080,000 | 3,158,789 | ||||||||
2.40%(2) | 09/17/25 | CZK | 25,000,000 | 1,203,417 | ||||||||
2.50%(2) | 08/25/28 | CZK | 19,370,000 | 954,830 | ||||||||
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| |||||||||||
Total Czech Republic (Cost: $10,287,928) | 10,396,713 | |||||||||||
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| |||||||||||
Egypt2.6% | ||||||||||||
Egypt Government Bond | ||||||||||||
14.06% | 01/12/26 | EGP | 47,274,000 | 2,960,156 | ||||||||
14.48% | 04/06/26 | EGP | 61,200,000 | 3,888,275 | ||||||||
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| |||||||||||
Total Egypt (Cost: $6,917,726) | 6,848,431 | |||||||||||
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| |||||||||||
Ghana0.5% | ||||||||||||
Republic of Ghana Government Bond | ||||||||||||
18.10% | 06/12/28 | GHS | 3,800,000 | 621,038 | ||||||||
18.80% | 05/11/26 | GHS | 4,100,000 | 692,759 | ||||||||
|
| |||||||||||
Total Ghana (Cost: $1,366,561) | 1,313,797 | |||||||||||
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| |||||||||||
Hungary3.3% | ||||||||||||
Hungary Government Bond | ||||||||||||
1.00% | 11/26/25 | HUF | 667,520,000 | 2,123,652 | ||||||||
1.50% | 08/23/23 | HUF | 535,590,000 | 1,787,848 | ||||||||
3.00% | 10/27/27 | HUF | 520,940,000 | 1,814,875 | ||||||||
3.00% | 10/27/38 | HUF | 108,420,000 | 353,878 | ||||||||
3.25% | 10/22/31 | HUF | 435,450,000 | 1,538,517 | ||||||||
6.00% | 11/24/23 | HUF | 281,930,000 | 1,029,567 | ||||||||
|
| |||||||||||
Total Hungary (Cost: $8,919,185) | 8,648,337 | |||||||||||
|
| |||||||||||
Indonesia9.4% | ||||||||||||
Indonesia Treasury Bond | ||||||||||||
5.63% | 05/15/23 | IDR | 31,330,000,000 | 2,226,031 | ||||||||
6.50% | 06/15/25 | IDR | 24,183,000,000 | 1,766,592 | ||||||||
6.50% | 02/15/31 | IDR | 30,130,000,000 | 2,117,485 | ||||||||
6.63% | 05/15/33 | IDR | 3,330,000,000 | 231,015 | ||||||||
7.00% | 09/15/30 | IDR | 16,343,000,000 | 1,189,352 | ||||||||
7.50% | 08/15/32 | IDR | 53,426,000,000 | 3,954,022 | ||||||||
7.50% | 06/15/35 | IDR | 30,770,000,000 | 2,239,269 | ||||||||
7.50% | 05/15/38 | IDR | 2,100,000,000 | 152,305 | ||||||||
8.13% | 05/15/24 | IDR | 3,313,000,000 | 251,525 | ||||||||
8.38% | 03/15/24 | IDR | 26,383,000,000 | 2,004,695 | ||||||||
8.38% | 09/15/26 | IDR | 38,054,000,000 | 2,990,380 | ||||||||
8.38% | 03/15/34 | IDR | 21,033,000,000 | 1,643,155 | ||||||||
9.00% | 03/15/29 | IDR | 45,392,000,000 | 3,686,368 | ||||||||
|
| |||||||||||
Total Indonesia (Cost: $22,937,652) | 24,452,194 | |||||||||||
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Kazakhstan 0.4% (Cost: $1,057,798) | ||||||||||||
Development Bank of Kazakhstan | ||||||||||||
10.95%(3) | 05/06/26 | KZT | 455,000,000 | 1,081,719 | ||||||||
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Malaysia4.8% | ||||||||||||
Malaysia Government Bond | ||||||||||||
3.48% | 03/15/23 | MYR | 4,340,000 | 1,054,044 | ||||||||
3.76% | 05/22/40 | MYR | 4,750,000 | 1,093,074 | ||||||||
3.89% | 08/15/29 | MYR | 7,250,000 | 1,805,753 | ||||||||
3.90% | 11/16/27 | MYR | 11,040,000 | 2,765,232 | ||||||||
3.96% | 09/15/25 | MYR | 10,750,000 | 2,686,226 | ||||||||
4.18% | 07/15/24 | MYR | 6,630,000 | 1,655,144 | ||||||||
Malaysia Government Investment Issue | ||||||||||||
3.47% | 10/15/30 | MYR | 5,670,000 | 1,363,084 | ||||||||
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Total Malaysia (Cost: $12,491,239) | 12,422,557 | |||||||||||
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Mexico9.1% | ||||||||||||
Mexico Government Bond (BONOS) | ||||||||||||
5.75% | 03/05/26 | MXN | 56,315,000 | 2,759,391 | ||||||||
6.50% | 06/09/22 | MXN | 24,260,000 | 1,232,576 | ||||||||
7.50% | 06/03/27 | MXN | 91,320,000 | 4,792,294 | ||||||||
7.75% | 05/29/31 | MXN | 72,155,600 | 3,860,386 | ||||||||
8.50% | 05/31/29 | MXN | 28,830,000 | 1,600,724 | ||||||||
8.50% | 11/18/38 | MXN | 56,000,000 | 3,086,840 | ||||||||
10.00% | 12/05/24 | MXN | 95,900,000 | 5,379,202 | ||||||||
10.00% | 11/20/36 | MXN | 16,200,000 | 1,020,046 | ||||||||
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Total Mexico (Cost: $23,962,893) | 23,731,459 | |||||||||||
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TCW Emerging Markets Local Currency Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Peru1.8% | ||||||||||||
Peruvian Government International Bond | ||||||||||||
5.94% | 02/12/29 | PEN | 1,570,000 | $ | 403,658 | |||||||
6.15% | 08/12/32 | PEN | 6,631,000 | 1,614,716 | ||||||||
6.35%(2) | 08/12/28 | PEN | 5,280,000 | 1,436,706 | ||||||||
6.95%(2) | 08/12/31 | PEN | 5,036,000 | 1,311,832 | ||||||||
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Total Peru (Cost: $5,928,279) | 4,766,912 | |||||||||||
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Poland4.2% | ||||||||||||
Republic of Poland Government Bond | ||||||||||||
2.50% | 07/25/27 | PLN | 4,350,000 | 1,215,869 | ||||||||
2.50% | 07/25/26 | PLN | 9,860,000 | 2,740,808 | ||||||||
2.50% | 04/25/24 | PLN | 12,300,000 | 3,366,890 | ||||||||
2.50% | 01/25/23 | PLN | 6,688,000 | 1,795,326 | ||||||||
2.75% | 10/25/29 | PLN | 6,500,000 | 1,862,215 | ||||||||
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Total Poland (Cost: $11,134,249) | 10,981,108 | |||||||||||
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Romania3.0% | ||||||||||||
Romania Government Bond | ||||||||||||
3.25% | 04/29/24 | RON | 13,820,000 | 3,388,389 | ||||||||
3.65% | 07/28/25 | RON | 1,045,000 | 259,542 | ||||||||
4.25% | 06/28/23 | RON | 2,255,000 | 562,349 | ||||||||
4.75% | 02/24/25 | RON | 3,110,000 | 800,313 | ||||||||
5.00% | 02/12/29 | RON | 4,070,000 | 1,087,472 | ||||||||
5.85% | 04/26/23 | RON | 6,340,000 | 1,618,480 | ||||||||
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Total Romania (Cost: $7,438,900) | 7,716,545 | |||||||||||
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Russia7.1% | ||||||||||||
Russian Federal BondOFZ | ||||||||||||
4.50% | 07/16/25 | RUB | 396,200,000 | 5,025,124 | ||||||||
6.00% | 10/06/27 | RUB | 231,600,000 | 3,056,944 | ||||||||
7.40% | 12/07/22 | RUB | 241,400,000 | 3,332,823 | ||||||||
7.65% | 04/10/30 | RUB | 197,446,000 | 2,865,536 | ||||||||
7.70% | 03/23/33 | RUB | 221,000,000 | 3,232,754 | ||||||||
7.70% | 03/16/39 | RUB | 77,300,000 | 1,140,878 | ||||||||
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Total Russia (Cost: $18,398,844) | 18,654,059 | |||||||||||
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Serbia 0.3% (Cost: $733,554) | ||||||||||||
Serbia Treasury Bond | 08/20/32 | RSD | 69,840,000 | 771,907 | ||||||||
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South Africa10.1% | ||||||||||||
South Africa Government Bond | ||||||||||||
6.25% | 03/31/36 | ZAR | 74,577,526 | 3,597,157 | ||||||||
7.00% | 02/28/31 | ZAR | 43,100,000 | 2,539,817 | ||||||||
8.00% | 01/31/30 | ZAR | 159,550,000 | 10,363,456 | ||||||||
8.25% | 03/31/32 | ZAR | 91,635,000 | 5,718,438 | ||||||||
8.50% | 01/31/37 | ZAR | 73,436,941 | 4,291,797 | ||||||||
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Total South Africa (Cost: $23,959,989) | 26,510,665 | |||||||||||
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Thailand3.4% | ||||||||||||
Thailand Government Bond | ||||||||||||
0.75% | 06/17/24 | THB | 15,100,000 | 462,039 | ||||||||
1.59% | 12/17/35 | THB | 44,000,000 | 1,288,583 | ||||||||
1.60% | 12/17/29 | THB | 78,500,000 | 2,434,364 | ||||||||
2.13% | 12/17/26 | THB | 31,700,000 | 1,029,197 | ||||||||
2.88% | 12/17/28 | THB | 24,145,000 | 823,358 | ||||||||
3.30% | 06/17/38 | THB | 80,656,000 | 2,862,917 | ||||||||
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Total Thailand (Cost: $9,375,889) | 8,900,458 | |||||||||||
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Turkey0.6% | ||||||||||||
Turkey Government Bond | ||||||||||||
10.50% | 08/11/27 | TRY | 5,400,000 | 485,372 | ||||||||
11.70% | 11/13/30 | TRY | 5,800,000 | 530,278 | ||||||||
12.60% | 10/01/25 | TRY | 4,700,000 | 481,602 | ||||||||
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Total Turkey (Cost: $1,941,246) | 1,497,252 | |||||||||||
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Ukraine0.5% (Cost: $1,265,082) | ||||||||||||
Ukraine Government International Bond | 02/26/25 | UAH | 30,894,000 | 1,248,775 | ||||||||
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Uruguay0.5% (Cost: $1,280,676) | ||||||||||||
Uruguay Government International Bond | 07/02/40 | UYU | 48,805,168 | 1,279,616 | ||||||||
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Total Fixed Income Securities (Cost: $232,985,965) | 234,578,507 | |||||||||||
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Shares | ||||||||||||
MONEY MARKET INVESTMENTS6.4% | ||||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(4) | 16,564,794 | 16,564,794 | ||||||||||
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Total Money Market Investments (Cost: $16,564,794) | 16,564,794 | |||||||||||
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Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS2.1% | ||||||||||||
Foreign Government Bonds2.1% | ||||||||||||
Egypt Treasury Bills | ||||||||||||
0.00%(1) | 10/26/21 | EGP | 60,700,000 | 3,748,906 | ||||||||
0.00%(1) | 12/07/21 | EGP | 30,000,000 | 1,825,788 | ||||||||
|
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Total Short Term Investments (Cost: $5,578,219) | 5,574,694 | |||||||||||
|
| |||||||||||
Total Investments (98.3%) (Cost: $255,128,978) | 256,717,995 | |||||||||||
|
| |||||||||||
Excess Of Other Assets Over Liabilities (1.7%) | 4,521,730 | |||||||||||
Total Net Assets (100.0%) |
| $ | 261,239,725 | |||||||||
|
|
TCW Emerging Markets Local Currency Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FORWARD CURRENCY CONTRACTS |
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Counterparty | Contracts to Deliver | Units of Currency | Settlement Date | In Exchange for U.S. Dollars | Contracts at Value | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||
BUY(5) | ||||||||||||||||||||||||||
Bank of America, N.A. | CLP | 360,810,000 | 10/06/21 | $ | 479,801 | $ | 474,484 | $ | (5,317 | ) | ||||||||||||||||
Bank of America, N.A. | HUF | 200,129,000 | 09/21/21 | 670,000 | 662,872 | (7,128 | ) | |||||||||||||||||||
Bank of America, N.A. | IDR | 30,260,870,000 | 08/03/21 | 2,110,000 | 2,092,368 | (17,632 | ) | |||||||||||||||||||
Bank of America, N.A. | PLN | 17,991,790 | 09/15/21 | 4,734,470 | 4,673,929 | (60,541 | ) | |||||||||||||||||||
Bank of America, N.A. | RUB | 90,633,630 | 09/24/21 | 1,207,000 | 1,228,166 | 21,166 | ||||||||||||||||||||
Barclays Capital | IDR | 18,440,100,000 | 08/03/21 | 1,260,000 | 1,275,029 | 15,029 | ||||||||||||||||||||
Barclays Capital | MYR | 28,458,335 | 08/20/21 | 6,868,737 | 6,738,478 | (130,259 | ) | |||||||||||||||||||
Barclays Capital | THB | 387,544,565 | 09/14/21 | 12,054,675 | 11,788,457 | (266,218 | ) | |||||||||||||||||||
Barclays Capital | TRY | 31,348,800 | 03/29/22 | 3,110,000 | 3,298,067 | 188,067 | ||||||||||||||||||||
Barclays Capital | ZAR | 9,314,323 | 08/24/21 | 672,000 | 635,053 | (36,947 | ) | |||||||||||||||||||
BNP Paribas S.A. | CLP | 781,749,585 | 10/06/21 | 1,028,889 | 1,028,041 | (848 | ) | |||||||||||||||||||
BNP Paribas S.A. | COP | 4,691,491,950 | 09/07/21 | 1,250,897 | 1,211,610 | (39,287 | ) | |||||||||||||||||||
BNP Paribas S.A. | CZK | 26,962,420 | 08/06/21 | 1,255,000 | 1,254,939 | (61 | ) | |||||||||||||||||||
BNP Paribas S.A. | HUF | 376,286,650 | 08/06/21 | 1,255,000 | 1,247,473 | (7,527 | ) | |||||||||||||||||||
BNP Paribas S.A. | IDR | 6,303,615,000 | 08/03/21 | 435,874 | 435,859 | (15 | ) | |||||||||||||||||||
BNP Paribas S.A. | IDR | 16,307,031,000 | 11/01/21 | 1,113,175 | 1,120,017 | 6,842 | ||||||||||||||||||||
BNP Paribas S.A. | MXN | 19,031,624 | 09/17/21 | 940,000 | 952,557 | 12,557 | ||||||||||||||||||||
BNP Paribas S.A. | PLN | 18,725,174 | 09/15/21 | 5,048,014 | 4,864,449 | (183,565 | ) | |||||||||||||||||||
Citibank N.A. | BRL | 1,365,096 | 10/01/21 | 260,000 | 263,140 | 3,140 | ||||||||||||||||||||
Citibank N.A. | IDR | 40,794,597,597 | 08/03/21 | 2,820,813 | 2,820,715 | (98 | ) | |||||||||||||||||||
Goldman Sachs & Co. | CZK | 27,077,760 | 08/06/21 | 1,280,000 | 1,260,308 | (19,692 | ) | |||||||||||||||||||
Goldman Sachs & Co. | MXN | 39,978,926 | 09/17/21 | 1,983,000 | 2,000,995 | 17,995 | ||||||||||||||||||||
Goldman Sachs & Co. | RUB | 204,435,000 | 09/24/21 | 2,750,000 | 2,770,276 | 20,276 | ||||||||||||||||||||
JPMorgan Chase Bank | IDR | 19,683,402,403 | 08/03/21 | 1,361,043 | 1,360,996 | (47 | ) | |||||||||||||||||||
JPMorgan Chase Bank | MXN | 26,653,186 | 09/17/21 | 1,314,000 | 1,334,026 | 20,026 | ||||||||||||||||||||
JPMorgan Chase Bank | PLN | 2,564,760 | 09/15/21 | 670,000 | 666,277 | (3,723 | ) | |||||||||||||||||||
JPMorgan Chase Bank | RUB | 47,158,370 | 09/24/21 | 641,000 | 639,038 | (1,962 | ) | |||||||||||||||||||
JPMorgan Chase Bank | THB | 36,923,040 | 09/14/21 | 1,184,000 | 1,123,137 | (60,863 | ) | |||||||||||||||||||
JPMorgan Chase Bank | ZAR | 36,802,173 | 08/24/21 | 2,559,712 | 2,509,181 | (50,531 | ) | |||||||||||||||||||
Morgan Stanley & Co. | CLP | 386,641,915 | 10/06/21 | 515,000 | 508,454 | (6,546 | ) | |||||||||||||||||||
Morgan Stanley & Co. | CNH | 31,322,770 | 09/23/21 | 4,820,000 | 4,825,075 | 5,075 | ||||||||||||||||||||
Standard Chartered Bank | IDR | 18,080,645,000 | 08/03/21 | 1,265,000 | 1,250,174 | (14,826 | ) | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 68,917,100 | $ | 68,313,640 | $ | (603,460 | ) | ||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
SELL(6) | ||||||||||||||||||||||||||
Bank of America, N.A. | BRL | 4,818,400 | 10/01/21 | $ | 950,000 | $ | 928,810 | $ | 21,190 | |||||||||||||||||
Bank of America, N.A. | IDR | 30,260,870,000 | 08/03/21 | 2,092,441 | 2,092,369 | 72 | ||||||||||||||||||||
Bank of America, N.A. | MXN | 42,950,000 | 09/17/21 | 2,058,472 | 2,149,702 | (91,230 | ) | |||||||||||||||||||
Barclays Capital | HUF | 194,273,200 | 09/21/21 | 654,008 | 643,476 | 10,532 | ||||||||||||||||||||
Barclays Capital | IDR | 18,440,100,000 | 08/03/21 | 1,275,073 | 1,275,029 | 44 | ||||||||||||||||||||
Barclays Capital | PLN | 2,494,611 | 09/15/21 | 656,563 | 648,053 | 8,510 | ||||||||||||||||||||
Barclays Capital | ZAR | 46,116,496 | 08/24/21 | 3,240,634 | 3,144,234 | 96,400 | ||||||||||||||||||||
Barclays Capital | ZAR | 56,376,000 | 10/04/21 | 3,888,000 | 3,823,735 | 64,265 | ||||||||||||||||||||
BNP Paribas S.A. | BRL | 17,971,326 | 10/01/21 | 3,599,138 | 3,464,211 | 134,927 | ||||||||||||||||||||
BNP Paribas S.A. | IDR | 6,303,615,000 | 08/03/21 | 435,092 | 435,859 | (767 | ) | |||||||||||||||||||
Citibank N.A. | CLP | 1,298,096,500 | 10/06/21 | 1,753,000 | 1,707,063 | 45,937 | ||||||||||||||||||||
Citibank N.A. | COP | 5,140,450,000 | 09/07/21 | 1,400,000 | 1,327,557 | 72,443 | ||||||||||||||||||||
Citibank N.A. | IDR | 40,794,597,597 | 08/03/21 | 2,788,135 | 2,820,715 | (32,580 | ) | |||||||||||||||||||
JPMorgan Chase Bank | CLP | 231,105,000 | 10/06/21 | 310,000 | 303,915 | 6,085 | ||||||||||||||||||||
JPMorgan Chase Bank | IDR | 19,683,402,403 | 08/03/21 | 1,342,661 | 1,360,996 | (18,335 | ) | |||||||||||||||||||
JPMorgan Chase Bank | ZAR | 44,347,698 | 10/04/21 | 3,017,505 | 3,007,908 | 9,597 | ||||||||||||||||||||
Standard Chartered Bank | IDR | 18,080,645,000 | 08/03/21 | 1,250,217 | 1,250,174 | 43 | ||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 30,710,939 | $ | 30,383,806 | $ | 327,133 | |||||||||||||||||||||
|
|
|
|
|
|
Notes to the Schedule of Investments: | ||
BRL | Brazilian Real. | |
CLP | Chilean Peso. | |
CNH | Chinese Yuan Renminbi. | |
CNY | Chinese Yuan. | |
COP | Colombian Peso. | |
CZK | Czech Koruna. | |
EGP | Egyptian Pound. | |
GHS | Ghana Cedi. |
TCW Emerging Markets Local Currency Income Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
HUF | Hungarian Forint. | |
IDR | Indonesian Rupiah. | |
KZT | Kazakhstani Tenge. | |
MXN | Mexican Peso. | |
MYR | Malaysian Ringgit. | |
PEN | Peruvian Nuevo Sol. | |
PLN | Polish Zloty. | |
RON | Romanian New Leu. | |
RSD | Serbian Dinar. | |
RUB | Russian Ruble. | |
THB | Thai Baht. | |
TRY | Turkish New Lira. | |
UAH | Ukrainian Hryvnia. | |
UYU | Uruguayan Peso. | |
ZAR | South African Rand. |
(1) | Security is not accruing interest. |
(2) | Investments issued under Regulation S of the Securities Act of 1933, as amended, may not be offered, sold, or delivered within the United States except under special exemptions. At July 31, 2021, the value of these securities amounted to $14,823,005 or 5.7% of net assets. |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $2,323,057 or 0.9% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. |
(4) | Rate disclosed is the 7-day net yield as of July 31, 2021. |
(5) | Fund buys foreign currency, sells U.S. Dollar. |
(6) | Fund sells foreign currency, buys U.S. Dollar. |
TCW Emerging Markets Local Currency Income Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Banks | 5.1 | % | ||
Electric | 0.5 | |||
Foreign Government Bonds | 84.2 | |||
Short Term Investments | 2.1 | |||
Money Market Investments | 6.4 | |||
|
| |||
Total | 98.3 | % | ||
|
|
TCW Emerging Markets Local Currency Income Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Banks | $ | | $ | 13,348,886 | $ | | $ | 13,348,886 | ||||||||
Electric | | 1,241,338 | | 1,241,338 | ||||||||||||
Foreign Government Bonds | | 219,988,283 | | 219,988,283 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | | 234,578,507 | | 234,578,507 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 16,564,794 | | | 16,564,794 | ||||||||||||
Short-Term Investments | | 5,574,694 | | 5,574,694 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | 16,564,794 | 240,153,201 | | 256,717,995 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | | 780,218 | | 780,218 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 16,564,794 | $ | 240,933,419 | $ | | $ | 257,498,213 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | $ | | $ | (1,056,545 | ) | $ | | $ | (1,056,545 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | | $ | (1,056,545 | ) | $ | | $ | (1,056,545 | ) | ||||||
|
|
|
|
|
|
|
|
TCW Enhanced Commodity Strategy Fund
Consolidated Schedule of Investments (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES48.4% |
| |||||||||||
ASSET-BACKED SECURITIES7.9% |
| |||||||||||
Aimco CLO, Ltd. (20-11A-A1) | 10/15/31 | $ | 5,000 | $ | 5,009 | |||||||
AMMC CLO, Ltd. (20-23A-A1L) | 10/17/31 | 5,000 | 5,005 | |||||||||
BlueMountain CLO, Ltd. (13-1A-A1R2) | 01/20/29 | 3,974 | 3,977 | |||||||||
Brazos Higher Education Authority, Inc. (11-1-A2) | 02/25/30 | 15,760 | 15,832 | |||||||||
Chase Issuance Trust (12-A7-A7) | 09/15/24 | 10,000 | 10,227 | |||||||||
Educational Services of America, Inc. (12-2-A) | 04/25/39 | 3,847 | 3,874 | |||||||||
Nelnet Student Loan Trust (12-5A-A) | 10/27/36 | 2,770 | 2,756 | |||||||||
Progress Residential Trust (18-SFR3-B) | 10/17/35 | 4,000 | 4,017 | |||||||||
SLM Student Loan Trust (05-4-A3) | 01/25/27 | 6,097 | 6,082 | |||||||||
SLM Student Loan Trust (05-7-A4) | 10/25/29 | 14,666 | 14,605 | |||||||||
SLM Student Loan Trust (07-2-B) | 07/25/25 | 15,000 | 13,554 | |||||||||
SLM Student Loan Trust (08-1-A4) | 01/25/22 | 8,143 | 7,993 | |||||||||
SLM Student Loan Trust (08-3-A3) | 10/25/21 | 8,271 | 8,269 | |||||||||
SLM Student Loan Trust (08-3-B) | 04/26/83 | 10,000 | 9,389 | |||||||||
SLM Student Loan Trust (13-4-A) | 06/25/43 | 7,525 | 7,488 | |||||||||
SLM Student Loan Trust (13-6-A3) | 06/25/55 | 8,649 | 8,729 | |||||||||
|
| |||||||||||
Total Asset-Backed Securities (Cost: $126,887) |
| 126,806 | ||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESAGENCY2.0% | ||||||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (K723-X1) (I/O) | 08/25/23 | 501,989 | 7,377 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (K024-X1) (I/O) | 09/25/22 | 293,751 | 2,278 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (KC01-X1) (I/O) | 12/25/22 | 221,406 | 1,088 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K026-X1) (I/O) | 11/25/22 | 138,204 | 1,343 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K033-X1) (I/O) | 07/25/23 | 527,424 | 2,774 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (KS07-X) (I/O) | 09/25/25 | 493,180 | 12,813 | |||||||||
Ginnie Mae (11-53-IO) (I/O) | 05/16/51 | 225,160 | 9 | |||||||||
Ginnie Mae (12-123-IO) (I/O) | 12/16/51 | 131,393 | 2,975 | |||||||||
Ginnie Mae (13-1-IO) (I/O) | 02/16/54 | 44,869 | 815 | |||||||||
United States Small Business Administration (01-20I-1) | 09/01/21 | 887 | 890 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesAgency (Cost: $32,162) |
| 32,362 | ||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESNON-AGENCY4.4% | ||||||||||||
Banc of America Commercial Mortgage Trust (17-BNK3-A2) | 02/15/50 | 4,500 | 4,542 | |||||||||
BANK (18-BN14-A2) | 09/15/60 | 4,000 | 4,222 | |||||||||
Benchmark Mortgage Trust (18-B6-A2) | 10/10/51 | 6,952 | 7,276 | |||||||||
Citigroup Commercial Mortgage Trust (13-375P-A) | 05/10/35 | 3,500 | 3,636 | |||||||||
Citigroup Commercial Mortgage Trust (13-GC11-AAB) | 04/10/46 | 3,105 | 3,151 | |||||||||
COMM Mortgage Trust (12-CR3-A3) | 10/15/45 | 3,912 | 3,976 | |||||||||
COMM Mortgage Trust (12-CR4-XA) (I/O) | 10/15/45 | 696,475 | 11,147 | |||||||||
COMM Mortgage Trust (13-LC6-XB) (I/O) | 01/10/46 | 100,000 | 523 | |||||||||
GS Mortgage Securities Trust (11-GC5-XA) (I/O) | 08/10/44 | 220,358 | 1 | |||||||||
GS Mortgage Securities Trust (13-GC13-AAB) | 07/10/46 | 3,541 | 3,632 | |||||||||
JPMBB Commercial Mortgage Securities Trust (13-C17-XA) (I/O) | 01/15/47 | 124,324 | 1,805 | |||||||||
JPMBB Commercial Mortgage Securities Trust (15-C32-A2) | 11/15/48 | 6,233 | 6,297 | |||||||||
LB-UBS Commercial Mortgage Trust (06-C6-XCL) (I/O) | 09/15/39 | 489,283 | 326 | |||||||||
Morgan Stanley Capital I Trust (15-MS1-ASB) | 05/15/48 | 7,958 | 8,361 | |||||||||
Morgan Stanley Capital I Trust (18-H3-A1) | 07/15/51 | 7,165 | 7,313 | |||||||||
Wells Fargo Commercial Mortgage Trust (17-C38-A2) | 07/15/50 | 3,096 | 3,144 | |||||||||
WFRBS Commercial Mortgage Trust (12-C9-XA) (I/O) | 11/15/45 | 103,400 | 1,596 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesNon-Agency (Cost: $68,469) |
| 70,948 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIES AGENCY0.5% (Cost: $7,724) |
| |||||||||||
Fannie Mae (05-W3-2AF) | 03/25/45 | 7,922 | 7,901 |
TCW Enhanced Commodity Strategy Fund
Consolidated Schedule of Investments (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESNON-AGENCY7.4% |
| |||||||||||
Alternative Loan Trust (05-56-4A1) | 11/25/35 | $ | 7,886 | $ | 7,739 | |||||||
Centex Home Equity Loan Trust (05-A-AF5) | 01/25/35 | 1,896 | 1,896 | |||||||||
CHL Mortgage Pass-Through Trust (04-25-1A1) | 02/25/35 | 11,790 | 11,459 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (03-CB5-M1) | 11/25/33 | 6,328 | 6,277 | |||||||||
Encore Credit Receivables Trust (05-3-M4) | 10/25/35 | 25,000 | 25,032 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (04-FF5-A3C) | 08/25/34 | 5,883 | 5,965 | |||||||||
JPMorgan Mortgage Trust (05-A5-TA1) | 08/25/35 | 805 | 820 | |||||||||
JPMorgan Mortgage Trust (05-A6-7A1) | 08/25/35 | 9,619 | 9,076 | |||||||||
MASTR Seasoned Securitization Trust (05-1-4A1) | 10/25/32 | 10,351 | 10,451 | |||||||||
Mid-State Trust (04-1-M1) | 08/15/37 | 11,414 | 12,379 | |||||||||
Morgan Stanley Mortgage Loan Trust (04-6AR-1A) | 07/25/34 | 30 | 30 | |||||||||
Morgan Stanley Mortgage Loan Trust (07-6XS-1A2S) | 02/25/47 | 1,520 | 1,518 | |||||||||
MortgageIT Trust (05-3-A1) | 08/25/35 | 4,615 | 4,578 | |||||||||
MortgageIT Trust (05-5-A1) | 12/25/35 | 21,813 | 21,946 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesNon-Agency (Cost: $111,897) |
| 119,166 | ||||||||||
|
| |||||||||||
CORPORATE BONDS25.5% |
| |||||||||||
Agriculture0.3% | ||||||||||||
Imperial Brands Finance PLC | 07/26/24 | 5,000 | 5,275 | |||||||||
|
| |||||||||||
Airlines0.4% | ||||||||||||
US Airways Group, Inc. Pass-Through Certificates (12-1-A) (EETC) | 04/01/26 | 5,839 | 6,172 | |||||||||
|
| |||||||||||
Auto Manufacturers0.7% | ||||||||||||
Ford Motor Credit Co. LLC | 09/20/22 | 10,000 | 10,299 | |||||||||
|
| |||||||||||
Banks10.7% | ||||||||||||
Bank of America Corp. | 07/22/27 | 5,000 | 5,091 | |||||||||
3.46% (3 mo. USD LIBOR + 0.970%)(2) | 03/15/25 | 10,000 | 10,691 | |||||||||
Bank of America NA | 01/25/23 | $ | 10,000 | $ | 10,153 | |||||||
Citigroup, Inc. | 07/24/23 | 22,000 | 22,165 | |||||||||
Credit Suisse Group AG | 02/02/27 | 10,000 | 9,874 | |||||||||
Discover Bank | 08/08/23 | 10,000 | 10,746 | |||||||||
Goldman Sachs Group, Inc. (The) | 03/09/27 | 5,000 | 5,027 | |||||||||
2.91% (3 mo. USD LIBOR + 0.990%)(2) | 07/24/23 | 5,000 | 5,118 | |||||||||
3.27% (3 mo. USD LIBOR + 1.201%)(2) | 09/29/25 | 10,000 | 10,740 | |||||||||
HSBC Holdings PLC | 09/22/28 | 5,000 | 5,073 | |||||||||
JPMorgan Chase & Co. | 01/15/23 | 25,000 | 25,106 | |||||||||
Macquarie Group, Ltd. | 01/12/27 | 5,000 | 4,994 | |||||||||
Morgan Stanley | 07/20/27 | 5,000 | 5,042 | |||||||||
2.72% (SOFR + 1.152%)(2) | 07/22/25 | 15,000 | 15,792 | |||||||||
Santander UK Group Holdings PLC (United Kingdom) | 11/15/24 | 5,000 | 5,460 | |||||||||
Wells Fargo & Co. | 02/11/26 | 15,000 | 15,628 | |||||||||
2.39% (SOFR + 2.100%)(2) | 06/02/28 | 5,000 | 5,237 | |||||||||
|
| |||||||||||
171,937 | ||||||||||||
|
| |||||||||||
Commercial Services0.3% | ||||||||||||
IHS Markit, Ltd. | 11/01/22 | 5,000 | 5,220 | |||||||||
|
| |||||||||||
Diversified Financial Services0.1% | ||||||||||||
Park Aerospace Holdings, Ltd. | 03/15/23 | 2,000 | 2,103 | |||||||||
|
| |||||||||||
Electric0.6% | ||||||||||||
Duke Energy Corp. | 06/15/31 | 5,000 | 5,174 | |||||||||
NextEra Energy Capital Holdings, Inc. | 02/22/23 | 5,000 | 5,000 | |||||||||
|
| |||||||||||
10,174 | ||||||||||||
|
| |||||||||||
Food0.2% | ||||||||||||
Kraft Heinz Foods Co. | 07/15/35 | 3,000 | 3,722 | |||||||||
|
|
TCW Enhanced Commodity Strategy Fund
Consolidated schedule of Investments (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Health Care-Services1.5% |
| |||||||||||
Centene Corp. | 10/15/30 | $ | 3,000 | $ | 3,122 | |||||||
CommonSpirit Health | 10/01/24 | 5,000 | 5,269 | |||||||||
HCA, Inc. | 03/15/24 | 5,000 | 5,535 | |||||||||
Humana, Inc. | 08/03/23 | 10,000 | 10,000 | |||||||||
|
| |||||||||||
23,926 | ||||||||||||
|
| |||||||||||
Insurance5.0% | ||||||||||||
Arthur J Gallagher & Co. | 05/20/31 | 5,000 | 5,050 | |||||||||
Athene Global Funding | 05/24/24 | 5,000 | 5,029 | |||||||||
Nationwide Mutual Insurance Co. | 12/15/24 | 70,000 | 70,076 | |||||||||
|
| |||||||||||
80,155 | ||||||||||||
|
| |||||||||||
Media0.3% | ||||||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital | 02/01/24 | 4,000 | 4,111 | |||||||||
|
| |||||||||||
Miscellaneous Manufacturers0.6% | ||||||||||||
General Electric Co. | 08/15/36 | 10,000 | 8,641 | |||||||||
|
| |||||||||||
Packaging & Containers0.3% | ||||||||||||
Berry Global, Inc. | 07/15/26 | 5,000 | 5,279 | |||||||||
|
| |||||||||||
Pharmaceuticals0.7% | ||||||||||||
Bayer US Finance II LLC | ||||||||||||
3.88%(1) | 12/15/23 | 3,000 | 3,211 | |||||||||
4.38%(1) | 12/15/28 | 5,000 | 5,802 | |||||||||
CVS Health Corp. | 03/25/28 | 2,000 | 2,318 | |||||||||
|
| |||||||||||
11,331 | ||||||||||||
|
| |||||||||||
Pipelines0.5% | ||||||||||||
Energy Transfer LP | 06/15/28 | 5,000 | 5,842 | |||||||||
Plains All American Pipeline LP / PAA Finance Corp. | 12/15/26 | 2,000 | 2,262 | |||||||||
|
| |||||||||||
8,104 | ||||||||||||
|
| |||||||||||
REIT2.3% | ||||||||||||
American Campus Communities Operating Partnership LP | 04/15/23 | 5,000 | 5,233 | |||||||||
Camden Property Trust | 12/15/22 | 5,000 | 5,147 | |||||||||
CyrusOne LP / CyrusOne Finance Corp. | 11/15/24 | 5,000 | 5,283 | |||||||||
GLP Capital LP / GLP Financing II, Inc. | 11/01/23 | 5,000 | 5,453 | |||||||||
SL Green Operating Partnership LP | 10/15/22 | 5,000 | 5,148 | |||||||||
Ventas Realty LP | 01/15/25 | 5,000 | 5,281 | |||||||||
WEA Finance LLC | 04/05/22 | 5,000 | 5,075 | |||||||||
|
| |||||||||||
36,620 | ||||||||||||
|
| |||||||||||
Savings & Loans0.3% | ||||||||||||
Nationwide Building Society (United Kingdom) | 08/01/24 | 5,000 | 5,358 | |||||||||
|
| |||||||||||
Telecommunications0.7% | ||||||||||||
AT&T, Inc. | 06/12/24 | 10,000 | 10,266 | |||||||||
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | 03/20/23 | 625 | 628 | |||||||||
|
| |||||||||||
10,894 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds (Cost: $399,437) | 409,321 | |||||||||||
|
| |||||||||||
MUNICIPAL BONDS0.7% |
| |||||||||||
County of Miami-Dade FL Aviation Revenue, Revenue Bond | 10/01/22 | 5,000 | 5,110 | |||||||||
Regents of the University of California Medical Center Pooled, Revenue Bond | 05/15/60 | 5,000 | 5,525 | |||||||||
|
| |||||||||||
Total Municipal Bonds (Cost: $10,096) | 10,635 | |||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $756,672) |
| 777,139 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Money Market Investments8.3% |
| |||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, |
| 133,366 | 133,366 | |||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $133,366) | 133,366 | |||||||||||
|
| |||||||||||
Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS45.7% |
| |||||||||||
U.S. TREASURY SECURITIES45.7% |
| |||||||||||
U.S. Cash Management Bill | 10/12/21 | $ | 90,000 | 89,993 | ||||||||
U.S. Treasury Bill | 08/12/21 | 143,000 | 142,999 | |||||||||
0.04%(9) | 08/19/21 | 50,000 | 49,999 | |||||||||
0.04%(9) | 08/31/21 | 150,000 | 149,995 | |||||||||
0.05%(9) | 10/07/21 | 150,000 | 149,986 | |||||||||
0.05%(9) | 01/06/22 | 150,000 | 149,967 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $732,934) | 732,939 | |||||||||||
|
| |||||||||||
Total Investments (102.4%) (Cost: $1,622,972) |
| 1,643,444 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-2.4%) |
| (38,808 | ) | |||||||||
Net Assets (100.0%) |
| $ | 1,604,636 | |||||||||
|
|
TCW Enhanced Commodity Strategy Fund
Consolidated Schedule of Investments (Unaudited) | July 31, 2021 |
Total Return Swaps(8)
Notional | Expiration Date | Counterparty | Payment Made by Fund | Payment Received by Fund | Payment Frequency | Unrealized Appreciation | Premium Paid | Value | ||||||||||||||||||
OTC Swaps | ||||||||||||||||||||||||||
$1,569,329 | 8/24/21 | Credit Suisse International | 3-Month U.S. Treasury Bills plus 0.2% | Credit Suisse Custom 24 Total Return Index(10) | Monthly | $ | 30,758 | $ | | $ | 30,758 | |||||||||||||||
|
|
|
|
|
|
Notes to the Schedule of Investments:
CLO | Collateralized Loan Obligation. | |||
EETC | Enhanced Equipment Trust Certificate. | |||
I/O | Interest Only Security. | |||
REIT | Real Estate Investment Trust. | |||
SOFR | Secured Overnight Financing Rate. | |||
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $158,644 or 9.9% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |||
(2) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |||
(3) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |||
(4) | Security is not accruing interest. | |||
(5) | Restricted security (Note 3). | |||
(6) | A portion of the principal balance has been written-off during the period due to defaults in the underlying loans. Cost basis has been adjusted. | |||
(7) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |||
(8) | All or a portion of this security is owned by TCW Cayman Enhanced Commodity Fund, Ltd. | |||
(9) | Rate shown represents yield-to-maturity. | |||
(10) | Custom Index has exposure to the following commodities as shown on the next page. |
TCW Enhanced Commodity Strategy Fund
Consolidated schedule of Investments (Unaudited) | July 31, 2021 |
Description(1) | Notional Amount | Weight % | Unrealized Appreciation (Depreciation) | |||||||||
Gold | $ | 183,298 | 11.68 | % | $ | (192 | ) | |||||
Natural Gas | 157,404 | 10.03 | % | 10,825 | ||||||||
WTI Crude Oil | 152,853 | 9.74 | % | 4,972 | ||||||||
Brent Crude Oil | 123,820 | 7.89 | % | 3,843 | ||||||||
Copper High Grade | 85,685 | 5.46 | % | 3,052 | ||||||||
Corn | 81,291 | 5.18 | % | (1,138 | ) | |||||||
Soybeans | 76,269 | 4.86 | % | (2,446 | ) | |||||||
Aluminum Primary | 70,620 | 4.50 | % | 2,771 | ||||||||
Soybean Oil | 60,576 | 3.86 | % | (2,132 | ) | |||||||
Live Cattle | 56,025 | 3.57 | % | 717 | ||||||||
Coffee C Arabica | 54,299 | 3.46 | % | 5,496 | ||||||||
Silver | 53,828 | 3.43 | % | (520 | ) | |||||||
Gasoil | 48,178 | 3.07 | % | 1,288 | ||||||||
Sugar#11 | 45,197 | 2.88 | % | 512 | ||||||||
Zinc High Grade | 44,883 | 2.86 | % | 342 | ||||||||
SRW Wheat | 42,215 | 2.69 | % | 661 | ||||||||
RBOB Gasoline | 41,430 | 2.64 | % | 1,870 | ||||||||
Heating Oil | 39,076 | 2.49 | % | 1,504 | ||||||||
Soybean Meal | 38,762 | 2.47 | % | (1,374 | ) | |||||||
Nickel Primary | 38,606 | 2.46 | % | 970 | ||||||||
Lean Hogs | 29,033 | 1.85 | % | (916 | ) | |||||||
HRW Wheat | 23,697 | 1.51 | % | 759 | ||||||||
Cotton | 22,284 | 1.42 | % | (137 | ) | |||||||
United States Treasury Bill | | | 31 | |||||||||
|
|
|
|
|
| |||||||
$ | 1,569,329 | 100.00 | % | $ | 30,758 | |||||||
|
|
|
|
|
|
(1) | Commodity Exposures of the Credit Suisse Custom 24 Total Return Index. |
TCW Enhanced Commodity Strategy Fund
Consolidated Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
U.S. Treasury Securities | 45.7 | % | ||
Corporate Bonds | 25.5 | |||
Money Market Investments | 8.3 | |||
Asset-Backed Securities | 7.9 | |||
Residential Mortgage-Backed SecuritiesNon-Agency | 7.4 | |||
Commercial Mortgage-Backed SecuritiesNon-Agency | 4.4 | |||
Commercial Mortgage-Backed SecuritiesAgency | 2.0 | |||
Municipal Bonds | 0.7 | |||
Residential Mortgage-Backed SecuritiesAgency | 0.5 | |||
Other* | (2.4 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes swaps, interest receivable and accrued expenses payable. |
TCW Enhanced Commodity Strategy Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Asset-Backed Securities | $ | | $ | 126,806 | $ | | $ | 126,806 | ||||||||
Commercial Mortgage-Backed | | 32,362 | | 32,362 | ||||||||||||
Commercial Mortgage-Backed | | 70,948 | | 70,948 | ||||||||||||
Residential Mortgage-Backed | | 7,901 | | 7,901 | ||||||||||||
Residential Mortgage-Backed | | 119,166 | | 119,166 | ||||||||||||
Corporate Bonds* | | 409,321 | | 409,321 | ||||||||||||
Municipal Bonds | | 10,635 | | 10,635 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | | 777,139 | | 777,139 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 133,366 | | | 133,366 | ||||||||||||
Short-Term Investments | 732,939 | | | 732,939 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 866,305 | $ | 777,139 | $ | | $ | 1,643,444 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Swap Agreements | ||||||||||||||||
Commodity Risk | | 30,758 | | 30,758 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 866,305 | $ | 807,897 | $ | | $ | 1,674,202 | ||||||||
|
|
|
|
|
|
|
|
* | See Schedule of Investments for corresponding industries. |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES105.8% of Net Assets |
| |||||||||||
CORPORATE BONDS24.0% |
| |||||||||||
Aerospace/Defense0.2% |
| |||||||||||
Boeing Co. (The) | 02/04/24 | $ | 80,000 | $ | 80,184 | |||||||
|
| |||||||||||
Agriculture1.2% |
| |||||||||||
Altria Group, Inc. | 02/15/23 | 100,000 | 120,533 | |||||||||
BAT Capital Corp. | 08/15/47 | 55,000 | 59,554 | |||||||||
BAT International Finance PLC (United Kingdom) | 01/16/30 | 100,000 | 129,981 | |||||||||
Imperial Brands Finance PLC | ||||||||||||
4.25%(2) | 07/21/25 | $ | 50,000 | 55,244 | ||||||||
8.13%(1) | 03/15/24 | GBP | 50,000 | 81,745 | ||||||||
|
| |||||||||||
447,057 | ||||||||||||
|
| |||||||||||
Airlines0.3% |
| |||||||||||
Delta Air Lines, Inc. Pass-Through Certificates (20-1A-AA) | 12/10/29 | 84,619 | 85,395 | |||||||||
US Airways Group, Inc. Pass-Through Certificates (10-1A) (EETC) | 10/22/24 | 8,860 | 9,088 | |||||||||
US Airways Group, Inc. Pass-Through Certificates (12-1-A) (EETC) | 04/01/26 | 29,193 | 30,859 | |||||||||
|
| |||||||||||
125,342 | ||||||||||||
|
| |||||||||||
Auto Manufacturers0.6% |
| |||||||||||
Daimler Finance North America LLC | 10/30/21 | 60,000 | 60,278 | |||||||||
Ford Motor Credit Co. LLC | ||||||||||||
1.20% (3 mo. USD LIBOR + 1.080%)(3) | 08/03/22 | 25,000 | 24,938 | |||||||||
1.42% (3 mo. USD LIBOR + 1.270%)(3) | 03/28/22 | 20,000 | 19,941 | |||||||||
3.22% | 01/09/22 | 20,000 | 20,190 | |||||||||
3.81% | 10/12/21 | 5,000 | 5,030 | |||||||||
General Motors Financial Co., Inc. | ||||||||||||
3.15% | 06/30/22 | 20,000 | 20,447 | |||||||||
3.45% | 04/10/22 | 5,000 | 5,079 | |||||||||
3.55% | 07/08/22 | 10,000 | 10,287 | |||||||||
4.20% | 11/06/21 | 30,000 | 30,304 | |||||||||
4.38% | 09/25/21 | 20,000 | 20,118 | |||||||||
|
| |||||||||||
216,612 | ||||||||||||
|
| |||||||||||
Banks5.0% |
| |||||||||||
Bank of America Corp. | ||||||||||||
1.66% (SOFR + 0.910%)(3) | 03/11/27 | 180,000 | 183,063 | |||||||||
2.09% (SOFR + 1.060%)(3) | 06/14/29 | 75,000 | 76,428 | |||||||||
3.09% (3 mo. USD LIBOR + 1.090%)(3) | 10/01/25 | 80,000 | 85,442 | |||||||||
3.82% (3 mo. USD LIBOR + 1.575%)(3) | 01/20/28 | 25,000 | 27,981 | |||||||||
Citigroup, Inc. | 06/09/27 | 75,000 | 75,210 | |||||||||
Credit Suisse Group AG | ||||||||||||
1.31% (SOFR + 0.980%)(2),(3) | 02/02/27 | 35,000 | 34,560 | |||||||||
2.19% (SOFR + 2.044%)(2),(3) | 06/05/26 | 85,000 | 87,455 | |||||||||
2.59% (SOFR + 1.560%)(2),(3) | 09/11/25 | 25,000 | 26,059 | |||||||||
4.55% | 04/17/26 | 30,000 | 34,108 | |||||||||
Goldman Sachs Group, Inc. (The) | ||||||||||||
1.09% (SOFR + 0.789%)(3) | 12/09/26 | 10,000 | 9,937 | |||||||||
3.27% (3 mo. USD LIBOR + 1.201%)(3) | 09/29/25 | 130,000 | 139,616 | |||||||||
HSBC Holdings PLC (United Kingdom) | ||||||||||||
1.75% (SONIO/N + 1.307%)(3) | 07/24/27 | GBP | 100,000 | 140,811 | ||||||||
2.63% (3 mo. USD LIBOR + 1.402%)(3) | 11/07/25 | $ | 5,000 | 5,246 | ||||||||
4.29% (3 mo. USD LIBOR + 1.348%)(3) | 09/12/26 | 15,000 | 16,747 | |||||||||
JPMorgan Chase & Co. | ||||||||||||
0.97% (SOFR + 0.580%)(3) | 06/23/25 | 60,000 | 60,272 | |||||||||
1.58% (SOFR + 0.885%)(3) | 04/22/27 | 55,000 | 55,706 | |||||||||
2.01% (SOFR + 1.585%)(3) | 03/13/26 | 65,000 | 67,402 | |||||||||
2.08% (SOFR + 1.850%)(3) | 04/22/26 | 35,000 | 36,330 | |||||||||
Lloyds Banking Group PLC (United Kingdom) | ||||||||||||
3.87% (1 year Treasury Constant Maturity Rate + 3.500%)(3) | 07/09/25 | 50,000 | 54,214 | |||||||||
3.90% | 03/12/24 | 35,000 | 37,874 | |||||||||
Macquarie Group, Ltd. | 01/12/27 | 95,000 | 94,879 | |||||||||
Morgan Stanley | ||||||||||||
1.51% (SOFR + 0.858%)(3) | 07/20/27 | 110,000 | 110,936 | |||||||||
1.59% (SOFR + 0.879%)(3) | 05/04/27 | 55,000 | 55,849 | |||||||||
Santander UK Group Holdings PLC (United Kingdom) | ||||||||||||
1.53% (U.S. 1 year Treasury Constant Maturity Rate + 1.250%)(3) | 08/21/26 | 10,000 | 10,079 | |||||||||
4.80% (3 mo. USD LIBOR +1.570%)(3) | 11/15/24 | 65,000 | 70,979 | |||||||||
Santander UK PLC (United Kingdom) | 11/07/23 | 20,000 | 21,752 | |||||||||
Wells Fargo & Co. | ||||||||||||
2.19% (SOFR + 2.000%)(3) | 04/30/26 | 25,000 | 26,037 | |||||||||
2.39% (SOFR + 2.100%)(3) | 06/02/28 | 195,000 | 204,235 | |||||||||
|
| |||||||||||
1,849,207 | ||||||||||||
|
| |||||||||||
Beverages0.5% |
| |||||||||||
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide, Inc. | 02/01/46 | 60,000 | 77,066 | |||||||||
Anheuser-Busch InBev Worldwide, Inc. | 04/15/48 | 20,000 | 24,924 | |||||||||
Bacardi, Ltd. | ||||||||||||
4.45%(2) | 05/15/25 | 50,000 | 55,785 | |||||||||
4.70%(2) | 05/15/28 | 10,000 | 11,761 | |||||||||
|
| |||||||||||
169,536 | ||||||||||||
|
|
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Chemicals0.3% | ||||||||||||
International Flavors & Fragrances, Inc. | 03/14/24 | $ | 100,000 | $ | 124,124 | |||||||
|
| |||||||||||
Commercial Services0.3% |
| |||||||||||
IHS Markit, Ltd. | ||||||||||||
4.00%(2) | 03/01/26 | $ | 50,000 | 55,689 | ||||||||
4.75% | 08/01/28 | 30,000 | 35,803 | |||||||||
|
| |||||||||||
91,492 | ||||||||||||
|
| |||||||||||
Diversified Financial Services0.5% |
| |||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | ||||||||||||
3.50% | 05/26/22 | 25,000 | 25,540 | |||||||||
3.88% | 01/23/28 | 10,000 | 10,826 | |||||||||
3.95% | 02/01/22 | 25,000 | 25,354 | |||||||||
4.13% | 07/03/23 | 15,000 | 15,878 | |||||||||
4.88% | 01/16/24 | 15,000 | 16,324 | |||||||||
Air Lease Corp. | 03/01/25 | 20,000 | 21,379 | |||||||||
Avolon Holdings Funding, Ltd. | ||||||||||||
2.88%(2) | 02/15/25 | 30,000 | 31,109 | |||||||||
5.13%(2) | 10/01/23 | 5,000 | 5,407 | |||||||||
Park Aerospace Holdings, Ltd. | ||||||||||||
4.50%(2) | 03/15/23 | 20,000 | 21,035 | |||||||||
5.25%(2) | 08/15/22 | 5,000 | 5,217 | |||||||||
5.50%(2) | 02/15/24 | 20,000 | 22,048 | |||||||||
|
| |||||||||||
200,117 | ||||||||||||
|
| |||||||||||
Electric0.4% |
| |||||||||||
FirstEnergy Transmission LLC | 09/15/28 | 78,000 | 82,452 | |||||||||
Pennsylvania Electric Co. | 03/15/28 | 50,000 | 53,419 | |||||||||
|
| |||||||||||
135,871 | ||||||||||||
|
| |||||||||||
Engineering & Construction0.4% |
| |||||||||||
Heathrow Funding, Ltd. | 02/15/23 | 75,000 | 111,265 | |||||||||
PowerTeam Services LLC | 12/04/25 | 16,000 | 17,695 | |||||||||
|
| |||||||||||
128,960 | ||||||||||||
|
| |||||||||||
Environmental Control0.0% |
| |||||||||||
GFL Environmental, Inc. (Canada) | ||||||||||||
3.75%(2) | 08/01/25 | 7,000 | 7,201 | |||||||||
5.13%(2) | 12/15/26 | 9,000 | 9,462 | |||||||||
|
| |||||||||||
16,663 | ||||||||||||
|
| |||||||||||
Food0.5% |
| |||||||||||
Kraft Heinz Foods Co. | ||||||||||||
3.00% | 06/01/26 | 34,000 | 36,191 | |||||||||
4.38% | 06/01/46 | 15,000 | 17,277 | |||||||||
5.00% | 07/15/35 | 30,000 | 37,224 | |||||||||
Pilgrims Pride Corp. | ||||||||||||
4.25%(2) | 04/15/31 | 37,000 | 39,415 | |||||||||
5.88%(2) | 09/30/27 | 16,000 | 17,130 | |||||||||
Post Holdings, Inc. | 04/15/30 | 25,000 | 25,503 | |||||||||
|
| |||||||||||
172,740 | ||||||||||||
|
| |||||||||||
Health Care-Products0.3% |
| |||||||||||
Becton Dickinson Euro Finance Sarl | 06/04/23 | 100,000 | 120,404 | |||||||||
|
| |||||||||||
Health Care-Services0.8% |
| |||||||||||
CommonSpirit Health | 10/01/30 | 10,000 | 10,594 | |||||||||
HCA, Inc. | ||||||||||||
4.13% | 06/15/29 | 49,000 | 55,976 | |||||||||
5.00% | 03/15/24 | 18,000 | 19,925 | |||||||||
5.25% | 04/15/25 | 2,000 | 2,297 | |||||||||
5.25% | 06/15/49 | 84,000 | 110,344 | |||||||||
Humana, Inc. | 10/01/44 | 10,000 | 13,211 | |||||||||
Molina Healthcare, Inc. | ||||||||||||
3.88%(2) | 11/15/30 | 63,000 | 66,793 | |||||||||
5.38% | 11/15/22 | 8,000 | 8,358 | |||||||||
|
| |||||||||||
287,498 | ||||||||||||
|
| |||||||||||
Insurance0.6% |
| |||||||||||
Athene Global Funding | 05/24/24 | 55,000 | 55,319 | |||||||||
Farmers Exchange Capital II | 11/01/53 | 80,000 | 105,939 | |||||||||
Teachers Insurance & Annuity Association of America | 05/15/47 | 40,000 | 49,367 | |||||||||
|
| |||||||||||
210,625 | ||||||||||||
|
| |||||||||||
Internet0.5% |
| |||||||||||
Alibaba Group Holding, Ltd. | 02/09/31 | 95,000 | 94,117 | |||||||||
Tencent Holdings, Ltd. | 01/19/28 | 90,000 | 98,428 | |||||||||
|
| |||||||||||
192,545 | ||||||||||||
|
| |||||||||||
Media0.5% |
| |||||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital | 05/01/47 | 81,000 | 100,549 | |||||||||
CSC Holdings LLC | 02/01/29 | 7,000 | 7,741 | |||||||||
Sirius XM Radio, Inc. | 08/01/22 | 15,000 | 15,038 | |||||||||
Virgin Media Secured Finance PLC (United Kingdom) | ||||||||||||
4.50%(2) | 08/15/30 | 54,000 | 54,463 | |||||||||
5.50%(2) | 05/15/29 | 16,000 | 17,114 | |||||||||
|
| |||||||||||
194,905 | ||||||||||||
|
| |||||||||||
Miscellaneous Manufacturers0.8% |
| |||||||||||
General Electric Co. | ||||||||||||
0.56% (3 mo. USD LIBOR + 0.380%)(3) | 05/05/26 | 125,000 | 123,350 | |||||||||
0.64% (3 mo. USD LIBOR + 0.480%)(3) | 08/15/36 | 200,000 | 172,812 | |||||||||
|
| |||||||||||
296,162 | ||||||||||||
|
| |||||||||||
Multi-National0.2% |
| |||||||||||
International Bank for Reconstruction & Development | 03/13/25 | 650,000 | 75,430 | |||||||||
|
| |||||||||||
Oil & Gas2.0% |
| |||||||||||
Antero Resources Corp. | 07/15/26 | 10,000 | 11,339 | |||||||||
Energean Israel Finance, Ltd. | 03/30/24 | 50,000 | 50,998 | |||||||||
Exxon Mobil Corp. | 06/26/39 | 100,000 | 120,908 |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Leviathan Bond, Ltd. | 06/30/30 | $ | 55,000 | $ | 61,825 | |||||||
Petroleos Mexicanos | ||||||||||||
5.50%(1) | 02/24/25 | EUR | 197,000 | 253,487 | ||||||||
5.95% | 01/28/31 | $ | 20,000 | 19,685 | ||||||||
SA Global Sukuk, Ltd. | 06/17/31 | 200,000 | 205,850 | |||||||||
Transocean Pontus, Ltd. | 08/01/25 | 11,600 | 11,470 | |||||||||
Transocean Poseidon, Ltd. | 02/01/27 | 7,000 | 6,842 | |||||||||
|
| |||||||||||
742,404 | ||||||||||||
|
| |||||||||||
Oil & Gas Services0.1% |
| |||||||||||
Transocean Phoenix 2, Ltd. | 10/15/24 | 13,750 | 13,940 | |||||||||
USA Compression Partners LP / USA Compression Finance Corp. | 09/01/27 | 4,000 | 4,235 | |||||||||
|
| |||||||||||
18,175 | ||||||||||||
|
| |||||||||||
Packaging & Containers0.4% |
| |||||||||||
Berry Global, Inc. | 01/15/25 | 100,000 | 120,898 | |||||||||
Graphic Packaging International LLC | 11/15/22 | 8,000 | 8,348 | |||||||||
|
| |||||||||||
129,246 | ||||||||||||
|
| |||||||||||
Pharmaceuticals1.5% |
| |||||||||||
AbbVie, Inc. | 05/14/35 | 108,000 | 132,868 | |||||||||
Bayer US Finance II LLC | ||||||||||||
4.25%(2) | 12/15/25 | 35,000 | 39,143 | |||||||||
4.38%(2) | 12/15/28 | 25,000 | 29,010 | |||||||||
4.63%(2) | 06/25/38 | 25,000 | 30,384 | |||||||||
4.88%(2) | 06/25/48 | 65,000 | 83,806 | |||||||||
Becton Dickinson and Co. | 06/06/22 | 13,000 | 13,260 | |||||||||
Cigna Corp. | 03/15/51 | 35,000 | 37,793 | |||||||||
CVS Health Corp. | 03/25/48 | 115,000 | 153,167 | |||||||||
Organon & Co. / Organon Foreign Debt Co-Issuer BV | 04/30/28 | 18,000 | 18,481 | |||||||||
|
| |||||||||||
537,912 | ||||||||||||
|
| |||||||||||
Pipelines0.6% |
| |||||||||||
Energy Transfer LP | ||||||||||||
5.15% | 03/15/45 | 125,000 | 145,930 | |||||||||
6.50% | 02/01/42 | 27,000 | 35,591 | |||||||||
Kinder Morgan Energy Partners LP | ||||||||||||
5.00% | 08/15/42 | 15,000 | 18,463 | |||||||||
5.80% | 03/15/35 | 25,000 | 32,958 | |||||||||
|
| |||||||||||
232,942 | ||||||||||||
|
| |||||||||||
REIT1.4% |
| |||||||||||
American Assets Trust LP | 02/01/31 | 40,000 | 42,109 | |||||||||
American Campus Communities Operating Partnership LP | 07/01/24 | 30,000 | 32,679 | |||||||||
CyrusOne LP / CyrusOne Finance Corp. | ||||||||||||
2.90% | 11/15/24 | 45,000 | 47,549 | |||||||||
3.45% | 11/15/29 | 45,000 | 48,358 | |||||||||
GLP Capital LP / GLP Financing II, Inc. | ||||||||||||
3.35% | 09/01/24 | 45,000 | 47,875 | |||||||||
5.25% | 06/01/25 | 15,000 | 16,931 | |||||||||
5.30% | 01/15/29 | 40,000 | 47,197 | |||||||||
5.38% | 04/15/26 | 25,000 | 28,970 | |||||||||
5.75% | 06/01/28 | 5,000 | 6,017 | |||||||||
Healthcare Trust of America Holdings LP (REIT) | 02/15/30 | 75,000 | 81,145 | |||||||||
Lexington Realty Trust | 09/15/30 | 20,000 | 20,807 | |||||||||
SL Green Operating Partnership LP | ||||||||||||
1.14% (3 mo. USD LIBOR + 0.980%)(3) | 08/16/21 | 50,000 | 50,009 | |||||||||
3.25% | 10/15/22 | 55,000 | 56,624 | |||||||||
|
| |||||||||||
526,270 | ||||||||||||
|
| |||||||||||
Retail0.4% |
| |||||||||||
7-Eleven, Inc. | 02/10/24 | 60,000 | 60,016 | |||||||||
Alimentation Couche-Tard, Inc. | 07/26/24 | 95,000 | 79,866 | |||||||||
Michaels Cos, Inc. (The) | 05/01/28 | 20,000 | 20,726 | |||||||||
|
| |||||||||||
160,608 | ||||||||||||
|
| |||||||||||
Savings & Loans0.2% |
| |||||||||||
Nationwide Building Society (United Kingdom) | 03/08/24 | 65,000 | 68,151 | |||||||||
|
| |||||||||||
Semiconductors0.1% |
| |||||||||||
Intel Corp. | 03/25/50 | 20,000 | 26,827 | |||||||||
|
| |||||||||||
Software0.3% |
| |||||||||||
Oracle Corp. | ||||||||||||
2.88% | 03/25/31 | 35,000 | 37,034 | |||||||||
3.95% | 03/25/51 | 55,000 | 61,221 | |||||||||
|
| |||||||||||
98,255 | ||||||||||||
|
| |||||||||||
Telecommunications3.1% |
| |||||||||||
AT&T, Inc. | ||||||||||||
2.55%(2) | 12/01/33 | 28,000 | 28,250 | |||||||||
3.80%(2) | 12/01/57 | 106,000 | 112,867 | |||||||||
4.75% | 05/15/46 | 130,000 | 160,114 | |||||||||
Frontier Communications Holdings LLC | 05/01/28 | 11,000 | 11,391 | |||||||||
Intelsat Jackson Holdings S. A. (Luxembourg) | ||||||||||||
8.50%(2),(4) | 10/15/24 | 21,000 | 12,233 | |||||||||
9.75%(2),(4) | 07/15/25 | 15,000 | 8,488 | |||||||||
Level 3 Financing, Inc. | ||||||||||||
3.63%(2) | 01/15/29 | 15,000 | 14,604 | |||||||||
3.88%(2) | 11/15/29 | 35,000 | 37,800 | |||||||||
4.63%(2) | 09/15/27 | 3,000 | 3,120 | |||||||||
Qwest Corp. | 09/15/25 | 33,000 | 39,188 | |||||||||
Sprint Corp. | 09/15/23 | 16,000 | 18,122 | |||||||||
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | ||||||||||||
3.36%(2) | 03/20/23 | 10,938 | 10,989 | |||||||||
4.74%(2) | 03/20/25 | 239,063 | 256,331 | |||||||||
T-Mobile USA, Inc. | ||||||||||||
2.55% | 02/15/31 | 20,000 | 20,529 | |||||||||
2.63% | 04/15/26 | 90,000 | 92,226 | |||||||||
3.75% | 04/15/27 | 60,000 | 66,926 | |||||||||
3.88% | 04/15/30 | 20,000 | 22,650 | |||||||||
4.38% | 04/15/40 | 20,000 | 23,729 | |||||||||
Verizon Communications, Inc. | 03/22/28 | 20,000 | 20,597 |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
2.55% | 03/21/31 | $ | 55,000 | $ | 57,207 | |||||||
Vodafone Group PLC (United Kingdom) | 06/19/49 | 108,000 | 138,013 | |||||||||
|
| |||||||||||
1,155,374 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds (Cost: $8,571,667) | 8,831,638 | |||||||||||
|
| |||||||||||
MUNICIPAL BONDS0.6% | ||||||||||||
Alabama Economic Settlement Authority, Revenue Bond | 09/15/32 | 40,000 | 46,944 | |||||||||
City of New York NY, General Obligation Unlimited | ||||||||||||
3.00% | 08/01/34 | 55,000 | 59,620 | |||||||||
3.62% | 04/01/31 | 50,000 | 55,988 | |||||||||
County of Miami-Dade FL Aviation Revenue, Revenue Bond | 10/01/35 | 50,000 | 52,888 | |||||||||
Metropolitan Transportation Authority, Revenue Bond | 11/15/49 | 10,000 | 13,524 | |||||||||
|
| |||||||||||
Total Municipal Bonds (Cost: $215,551) | 228,964 | |||||||||||
|
| |||||||||||
FOREIGN GOVERNMENT BONDS45.5% | ||||||||||||
Australia Government Bond | ||||||||||||
2.50%(1) | 05/21/30 | AUD | 413,000 | 340,816 | ||||||||
2.75%(1) | 11/21/28 | AUD | 130,000 | 108,180 | ||||||||
2.75%(1) | 05/21/41 | AUD | 122,000 | 102,973 | ||||||||
Bonos de la Tesoreria de la Republica en pesos | ||||||||||||
2.30%(1) | 10/01/28 | CLP | 60,000,000 | 69,246 | ||||||||
2.50% | 03/01/25 | CLP | 220,000,000 | 283,848 | ||||||||
Brazil Letras do Tesouro Nacional | 01/01/24 | BRL | 2,618,000 | 417,240 | ||||||||
Canada Housing Trust | 06/15/25 | CAD | 100,000 | 80,319 | ||||||||
Canada Housing Trust No 1 | 06/15/30 | CAD | 315,000 | 257,175 | ||||||||
Canadian Government Bond | ||||||||||||
0.25% | 03/01/26 | CAD | 225,000 | 175,662 | ||||||||
2.75% | 12/01/48 | CAD | 35,000 | 34,208 | ||||||||
China Development Bank | ||||||||||||
3.09% | 06/18/30 | CNY | 370,000 | 56,425 | ||||||||
3.18% | 04/05/26 | CNY | 3,250,000 | 506,469 | ||||||||
4.24% | 08/24/27 | CNY | 4,800,000 | 787,443 | ||||||||
China Government Bond | ||||||||||||
2.85% | 06/04/27 | CNY | 6,730,000 | 1,045,943 | ||||||||
3.13% | 11/21/29 | CNY | 3,260,000 | 512,423 | ||||||||
3.72% | 04/12/51 | CNY | 3,180,000 | 516,450 | ||||||||
Colombia Government International Bond | 02/22/42 | $ | 200,000 | 192,800 | ||||||||
Colombian TES | ||||||||||||
5.75% | 11/03/27 | COP | 275,700,000 | 68,855 | ||||||||
7.75% | 09/18/30 | COP | 381,500,000 | 104,092 | ||||||||
Czech Republic Government Bond | 10/25/23 | CZK | 2,980,000 | 136,025 | ||||||||
French Republic Government Bond OAT | ||||||||||||
0.00%(1),(5) | 11/25/31 | EUR | 30,000 | 35,969 | ||||||||
0.50 (1) | 06/25/44 | EUR | 55,000 | 65,346 | ||||||||
0.75 (1) | 05/25/52 | EUR | 32,000 | 38,538 | ||||||||
Hungary Government Bond | ||||||||||||
2.50% | 10/24/24 | HUF | 22,350,000 | 75,634 | ||||||||
3.00% | 08/21/30 | HUF | 2,250,000 | 7,863 | ||||||||
Indonesia Government International Bond | 10/30/31 | EUR | 200,000 | 242,199 | ||||||||
Indonesia Treasury Bond | ||||||||||||
5.50% | 04/15/26 | IDR | 1,145,000,000 | 80,318 | ||||||||
6.63% | 05/15/33 | IDR | 591,000,000 | 41,000 | ||||||||
Ireland Government Bond | ||||||||||||
0.90%(1) | 05/15/28 | EUR | 115,000 | 148,681 | ||||||||
1.30%(1) | 05/15/33 | EUR | 65,000 | 88,789 | ||||||||
1.35%(1) | 03/18/31 | EUR | $30,000 | 40,813 | ||||||||
2.00%(1) | 02/18/45 | EUR | 9,000 | 14,272 | ||||||||
Israel Government Bond | 03/31/47 | ILS | 94,000 | 38,725 | ||||||||
Italy Buoni Poliennali Del Tesoro | ||||||||||||
0.35%(1) | 02/01/25 | EUR | 285,000 | 344,725 | ||||||||
0.60%(1) | 08/01/31 | EUR | 30,000 | 35,508 | ||||||||
1.50%(1) | 04/30/45 | EUR | 95,000 | 113,957 | ||||||||
Japan Government Five Year Bond | 09/20/25 | JPY | 73,800,000 | 679,142 | ||||||||
Japan Government Ten-Year Bond | 09/20/21 | JPY | 50,150,000 | 457,609 | ||||||||
Japan Government Thirty Year Bond | ||||||||||||
0.40% | 03/20/50 | JPY | 49,950,000 | 430,537 | ||||||||
2.00% | 03/20/42 | JPY | 37,750,000 | 452,292 | ||||||||
Japan Government Twenty Year Bond | 09/20/36 | JPY | 28,500,000 | 270,925 | ||||||||
Korea Treasury Bond | 06/10/26 | KRW | 464,570,000 | 407,652 | ||||||||
Malaysia Government Bond | 11/07/33 | MYR | 1,052,000 | 272,099 | ||||||||
Mexico Government Bond (BONOS) | ||||||||||||
5.75% | 03/05/26 | MXN | 7,590,000 | 371,904 | ||||||||
7.75% | 05/29/31 | MXN | 1,399,000 | 74,848 | ||||||||
Mexico Government International Bond 1.45% | 10/25/33 | EUR | 100,000 | 113,006 | ||||||||
New Zealand Government Bond | ||||||||||||
1.75% | 05/15/41 | NZD | 180,000 | 115,455 | ||||||||
2.75%(1) | 04/15/37 | NZD | 107,000 | 82,354 | ||||||||
Norway Government Bond | ||||||||||||
1.50%(1) | 02/19/26 | NOK | 4,585,000 | 532,227 | ||||||||
3.00%(1) | 03/14/24 | NOK | 1,345,000 | 161,196 | ||||||||
Panama Government International Bond | 04/17/26 | $ | 18,000 | 19,516 | ||||||||
Portugal Obrigacoes do Tesouro OT | ||||||||||||
1.00%(1) | 04/12/52 | EUR | 115,000 | 132,460 | ||||||||
2.13%(1) | 10/17/28 | EUR | 64,000 | 88,819 | ||||||||
2.25%(1) | 04/18/34 | EUR | 245,000 | 359,299 | ||||||||
4.95%(1) | 10/25/23 | EUR | 168,000 | 224,279 | ||||||||
Province of Ontario Canada | ||||||||||||
1.85% | 02/01/27 | CAD | 155,000 | 128,529 | ||||||||
2.05% | 06/02/30 | CAD | 70,000 | 57,609 | ||||||||
2.60% | 06/02/25 | CAD | 45,000 | 38,249 | ||||||||
2.65% | 02/05/25 | CAD | 75,000 | 63,784 | ||||||||
Republic of Poland Government Bond | 07/25/25 | PLN | 311,000 | 88,406 | ||||||||
Romania Government Bond | ||||||||||||
3.25% | 06/24/26 | RON | 650,000 | 158,185 | ||||||||
3.65% | 09/24/31 | RON | 485,000 | 116,710 | ||||||||
Romanian Government International Bond | ||||||||||||
2.00%(1) | 01/28/32 | EUR | 87,000 | 103,967 | ||||||||
2.00%(2) | 01/28/32 | EUR | 100,000 | 119,502 | ||||||||
3.62% | 05/26/30 | EUR | 50,000 | 68,518 | ||||||||
Russian Federal BondOFZ | 10/07/26 | RUB | 8,790,000 | 126,957 | ||||||||
Saudi Government International Bond | 07/09/39 | EUR | 100,000 | 123,477 | ||||||||
Singapore Government Bond | ||||||||||||
0.50% | 11/01/25 | SGD | 240,000 | 176,052 | ||||||||
1.63% | 07/01/31 | SGD | 155,000 | 117,970 | ||||||||
2.88% | 09/01/30 | SGD | 325,000 | 273,013 | ||||||||
South Africa Government Bond | ||||||||||||
7.00% | 02/28/31 | ZAR | 3,394,000 | 200,003 | ||||||||
10.50% | 12/21/26 | ZAR | 2,190,000 | 170,570 | ||||||||
Spain Government Bond | 07/30/23 | EUR | 295,000 | 356,347 |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
0.60%(1) | 10/31/29 | EUR | 212,000 | $ | 263,594 | |||||||
1.00%(1) | 10/31/50 | EUR | 74,000 | 84,053 | ||||||||
1.85%(1) | 07/30/35 | EUR | 190,000 | 264,890 | ||||||||
2.35%(1) | 07/30/33 | EUR | 110,000 | 160,439 | ||||||||
United Kingdom Gilt | ||||||||||||
1.25%(1) | 10/22/41 | GBP | 206,000 | 300,501 | ||||||||
1.63%(1) | 10/22/28 | GBP | 95,000 | 143,459 | ||||||||
1.75%(1) | 09/07/37 | GBP | 186,000 | 291,395 | ||||||||
2.75%(1) | 09/07/24 | GBP | 110,000 | 165,293 | ||||||||
3.75%(1) | 09/07/21 | GBP | 120,000 | 167,444 | ||||||||
|
| |||||||||||
Total Foreign Government Bonds (Cost: $16,684,077) | 16,783,464 | |||||||||||
|
| |||||||||||
ASSET-BACKED SECURITIES4.6% | ||||||||||||
BlueMountain CLO, Ltd. (13-1A-A1R2) | 01/20/29 | 25,548 | 25,564 | |||||||||
CoreVest American Finance Trust (20-1-A2) | 03/15/50 | 30,000 | 31,242 | |||||||||
Dryden Senior Loan Fund | 05/15/32 | 185,000 | 185,151 | |||||||||
Eaton Vance CLO, Ltd. (13-1A-A13R) | 01/15/34 | 150,000 | 150,427 | |||||||||
Educational Funding of the South, Inc. (11-1-A2) | 04/25/35 | 12,093 | 12,074 | |||||||||
Gilbert Park CLO, Ltd. (17-1A-A) | 10/15/30 | 100,000 | 100,061 | |||||||||
GoldenTree Loan Opportunities IX, Ltd. (14-9A-AR2) | 10/29/29 | 100,000 | 100,176 | |||||||||
LCM XIII LP (13A-ARR) | 07/19/27 | 45,000 | 44,980 | |||||||||
Madison Park Funding XLVIII, Ltd. (21-48A-A) | 04/19/33 | 150,000 | 150,218 | |||||||||
Madison Park Funding XVII, Ltd. (15-17A-AR2) | 07/21/30 | 150,000 | 149,998 | |||||||||
OCP CLO, Ltd. (20-19A-A1) | 07/20/31 | 100,000 | 100,050 | |||||||||
Palmer Square CLO, Ltd. (19-1A-A1) | 04/20/27 | 13,234 | 13,249 | |||||||||
Rockford Tower CLO, Ltd. (21-1A-B) | 07/20/34 | 180,000 | 180,209 | |||||||||
Sixth Street CLO XVII, Ltd. (21-17A-A) | 01/20/34 | 150,000 | 150,422 | |||||||||
SLC Student Loan Trust (06-1-A6) | 03/15/55 | 100,000 | 97,859 | |||||||||
SLM Student Loan Trust (08-5-B) | 07/25/73 | 50,000 | 49,516 | |||||||||
SLM Student Loan Trust (08-8-B) | 10/25/75 | 57,000 | 57,632 | |||||||||
SLM Student Loan Trust (08-9-B) | 10/25/83 | 57,000 | 57,594 | |||||||||
Student Loan Consolidation Center (02-2-B2) | 07/01/42 | 50,000 | 46,157 | |||||||||
|
| |||||||||||
Total Asset-backed Securities (Cost: $1,687,798) | 1,702,579 | |||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESAGENCY1.4% |
| |||||||||||
Fannie Mae (16-M2-X3) (I/O) | 04/25/36 | 428,451 | 4,323 | |||||||||
Fannie Mae (16-M4-X2) (I/O) | 01/25/39 | 918,854 | 42,977 | |||||||||
Fannie Mae, Pool #BL6060 | 04/01/40 | 90,000 | 96,003 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (K028-X1) (I/O) | 02/25/23 | 3,376,542 | 10,618 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KF59-A) | 02/25/29 | 62,178 | 62,733 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KF73-AL) | 11/25/29 | 182,928 | 184,643 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K022-X3) (I/O) | 08/25/40 | 800,000 | 14,445 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K025-X3) (I/O) | 11/25/40 | 2,850,000 | 58,744 | |||||||||
Ginnie Mae (11-147-IO) (I/O) | 10/16/44 | 1,001,879 | 708 | |||||||||
Ginnie Mae (12-144-IO) (I/O) | 01/16/53 | 2,013,794 | 27,448 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesAgency (Cost: $550,717) |
| 502,642 | ||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESNON-AGENCY4.1% |
| |||||||||||
Bank of America-First Union NB Commercial Mortgage (01-3-XC) (I/O) | 04/11/37 | 1,070,917 | 11,284 | |||||||||
COMM Mortgage Trust (13-CR7-XA) (I/O) | 03/10/46 | 689,975 | 10,707 | |||||||||
COMM Mortgage Trust (12-CR4-XA) (I/O) | 10/15/45 | 827,845 | 13,249 | |||||||||
CPT Mortgage Trust (19-CPT-A) | 11/13/39 | 35,000 | 37,795 | |||||||||
DC Office Trust (19-MTC-A) | 09/15/45 | 35,000 | 37,967 | |||||||||
GS Mortgage Securities Corp. II (17-375H-A) | 09/10/37 | 75,000 | 82,990 | |||||||||
GS Mortgage Securities Trust (10-C1-X) (I/O) | 08/10/43 | 1,934,891 | 23,441 |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
GS Mortgage Securities Trust (11-GC3-X) (I/O) | 03/10/44 | $ | 815,576 | $ | 2,477 | |||||||
GS Mortgage Securities Trust (13-GC12-XA) (I/O) | 06/10/46 | 4,782,421 | 91,029 | |||||||||
GS Mortgage Securities Trust (14-GC20-XA) (I/O) | 04/10/47 | 1,103,866 | 24,194 | |||||||||
Hudson Yards Mortgage Trust (19-55HY-A) | 12/10/41 | 35,000 | 38,219 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (11-C3-XB) (I/O) | 02/15/46 | 6,381,223 | 66,681 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (14-C19-XA) (I/O) | 04/15/47 | 2,495,603 | 39,018 | |||||||||
Morgan Stanley Bank of America Merrill Lynch Trust (13-C7-XA) (I/O) | 02/15/46 | 2,097,960 | 30,818 | |||||||||
Natixis Commercial Mortgage Securities Trust (19-FAME-A) | 08/15/36 | 130,000 | 130,873 | |||||||||
Natixis Commercial Mortgage Securities Trust (19-NEMA-A) | 02/15/39 | 190,000 | 206,811 | |||||||||
New York City Housing Development Corp. (14-8SPR A) | 02/15/48 | 135,000 | 142,598 | |||||||||
One Bryant Park Trust (19-OBP-A) | 09/15/54 | 40,000 | 42,199 | |||||||||
One Market Plaza Trust (17-1MKT-A) | 02/10/32 | 150,000 | 155,962 | |||||||||
Taurus CMBS (21-UK1A-A) | 05/17/31 | 100,000 | 139,642 | |||||||||
Taurus CMBS (21-UK4A-B) | 08/17/31 | 100,000 | 139,049 | |||||||||
WFRBS Commercial Mortgage Trust (12-C9-XA) (I/O) | 11/15/45 | 2,495,861 | 38,517 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesNon-Agency (Cost: $1,320,976) | 1,505,520 | |||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESAGENCY15.5% | ||||||||||||
Fannie Mae, Pool #MA4152 | 10/01/40 | 89,014 | 91,563 | |||||||||
Fannie Mae (07-52-LS) (I/O) (I/F) | 06/25/37 | 52,161 | 5,970 | |||||||||
Fannie Mae (08-18-SM) (I/O) (I/F) | 03/25/38 | 50,251 | 7,865 | |||||||||
Fannie Mae (09-115-SB) (I/O) (I/F) | 01/25/40 | 36,467 | 6,532 | |||||||||
Fannie Mae (10-116-SE) (I/O) (I/F) | 10/25/40 | 62,981 | 12,483 | |||||||||
Fannie Mae, Pool #AB3679 | 10/01/41 | 61,700 | 67,790 | |||||||||
Fannie Mae, Pool #AB4045 | 12/01/41 | 87,659 | 97,413 | |||||||||
Fannie Mae, Pool #AT5914 | 06/01/43 | 30,726 | 33,412 | |||||||||
Fannie Mae, Pool #BD7081 | 03/01/47 | 26,194 | 28,310 | |||||||||
Fannie Mae, Pool #CA0996 | 01/01/48 | 71,835 | 77,939 | |||||||||
Fannie Mae, Pool #CA2208 | 08/01/48 | 3,005 | 3,247 | |||||||||
Fannie Mae, Pool #FM2870 | 03/01/50 | 179,172 | 191,501 | |||||||||
Fannie Mae, Pool #MA1527 | 08/01/33 | 17,189 | 18,369 | |||||||||
Fannie Mae, Pool #MA1652 | 11/01/33 | 27,421 | 29,613 | |||||||||
Fannie Mae, Pool #MA2705 | 08/01/46 | 89,484 | 94,579 | |||||||||
Fannie Mae, Pool #MA4204 | 12/01/40 | 73,086 | 75,164 | |||||||||
Freddie Mac, Pool #SD0231 | 01/01/50 | 132,517 | 141,635 | |||||||||
Freddie Mac (3439-SC) (I/O) (I/F) | 04/15/38 | 49,833 | 7,942 | |||||||||
Freddie Mac, Pool #G08681 | 12/01/45 | 26,301 | 28,236 | |||||||||
Freddie Mac, Pool #G08698 | 03/01/46 | 24,843 | 26,676 | |||||||||
Freddie Mac, Pool #G08716 | 08/01/46 | 26,270 | 28,087 | |||||||||
Freddie Mac, Pool #G08721 | 09/01/46 | 4,879 | 5,158 | |||||||||
Freddie Mac, Pool #G08722 | 09/01/46 | 2,662 | 2,846 | |||||||||
Freddie Mac, Pool #G08732 | 11/01/46 | 6,844 | 7,236 | |||||||||
Freddie Mac, Pool #G08762 | 05/01/47 | 24,431 | 26,331 | |||||||||
Freddie Mac, Pool #G08833 | 07/01/48 | 4,469 | 4,883 | |||||||||
Freddie Mac, Pool #G18592 | 03/01/31 | 4,490 | 4,747 | |||||||||
Freddie Mac, Pool #ZT1703 | 01/01/49 | 63,654 | 69,461 | |||||||||
Ginnie Mae (11-146-EI) (I/O) (PAC) | 11/16/41 | 48,013 | 8,725 | |||||||||
Ginnie Mae, Pool #MA3662 | 05/20/46 | 45,370 | 47,882 | |||||||||
Ginnie Mae II, Pool #MA3597 | 04/20/46 | 16,863 | 17,911 | |||||||||
Ginnie Mae II, Pool #MA3663 | 05/20/46 | 2,470 | 2,624 | |||||||||
Ginnie Mae II, Pool #MA3803 | 07/20/46 | 11,613 | 12,334 | |||||||||
Ginnie Mae II, Pool #MA4454 | 05/20/47 | 12,408 | 13,590 | |||||||||
Ginnie Mae II, Pool #MA4900 | 12/20/47 | 55,961 | 59,291 | |||||||||
Ginnie Mae II, Pool #MA5399 | 08/20/48 | 25,780 | 27,582 | |||||||||
Ginnie Mae II TBA, 30 Year | ||||||||||||
2.00%(8) | 10/31/50 | 375,000 | 383,452 | |||||||||
2.50%(8) | 12/01/50 | 250,000 | 259,430 | |||||||||
Uniform Mortgage-Backed Securities TBA, 15 Year | ||||||||||||
1.50%(8) | 03/02/36 | 225,000 | 229,097 | |||||||||
2.00%(8) | 03/02/36 | 300,000 | 310,995 | |||||||||
Uniform Mortgage-Backed Securities TBA, 30 Year | ||||||||||||
2.00%(8) | 01/31/51 | 1,200,000 | 1,221,422 | |||||||||
2.50%(8) | 01/31/51 | 1,850,000 | 1,922,940 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesAgency (Cost: $5,651,078) | 5,712,263 | |||||||||||
|
|
TCW Global Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESNON-AGENCY5.2% |
| |||||||||||
Banc of America Funding Trust (05-C-A3) | 05/20/35 | $ | 21,474 | $ | 21,626 | |||||||
BCMSC Trust (00-A-A4) | 06/15/30 | 189,525 | 46,793 | |||||||||
Bear Stearns ALT-A Trust (04-8-M2) 1.81% | 09/25/34 | 102,093 | 101,537 | |||||||||
Bear Stearns ALT-A Trust (05-8-11A1) | 10/25/35 | 33,110 | 31,781 | |||||||||
Carrington Mortgage Loan Trust (06-RFC1-A4) | 03/25/36 | 44,070 | 43,978 | |||||||||
DSLA Mortgage Loan Trust (04-AR1-A1A) | 09/19/44 | 84,776 | 83,288 | |||||||||
First Horizon Mortgage Pass-Through Trust (05-AR4-2A1) | 10/25/35 | 26,007 | 26,185 | |||||||||
Homestar Mortgage Acceptance Corp. (04-6-M4) | 01/25/35 | 100,000 | 100,044 | |||||||||
HSI Asset Securitization Corp. (06-WMC1-A3) | 07/25/36 | 311,274 | 184,422 | |||||||||
IndyMac INDX Mortgage Loan Trust (05-AR15-A2) | 09/25/35 | 56,370 | 51,291 | |||||||||
JPMorgan Mortgage Acquisition Trust (06-CH2-AF3) | 09/25/29 | 219,553 | 173,435 | |||||||||
JPMorgan Mortgage Trust (05-A6-7A1) | 08/25/35 | 17,055 | 16,092 | |||||||||
Long Beach Mortgage Loan Trust (06-WL1-2A4) | 01/25/46 | 17,678 | 17,692 | |||||||||
Merrill Lynch Alternative Note Asset Trust (07-A1-A2B) | 01/25/37 | 313,143 | 136,219 | |||||||||
Merrill Lynch Alternative Note Asset Trust (07-A3-A2D) | 04/25/37 | 1,251,739 | 92,217 | |||||||||
Mid-State Trust (04-1-A) | 08/15/37 | 62,778 | 66,364 | |||||||||
Morgan Stanley ABS Capital I, Inc. Trust (05-HE2-M2) | 01/25/35 | 133,819 | 131,404 | |||||||||
Morgan Stanley ABS Capital I, Inc. Trust (06-HE4-A4) | 06/25/36 | 275,357 | 185,318 | |||||||||
MortgageIT Trust (05-1-1A1) | 02/25/35 | 22,255 | 22,299 | |||||||||
Nationstar Home Equity Loan Trust (07-B-2AV4) | 04/25/37 | 43,000 | 42,316 | |||||||||
Ownit Mortgage Loan Asset-Backed Certificates (06-3-A2D) | 03/25/37 | 94,318 | 92,955 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (04-18-4A1) | 12/25/34 | 23,816 | 24,271 | |||||||||
Structured Asset Mortgage Investments II Trust (05-AR6-2A1) | 09/25/45 | 30,163 | 28,998 | |||||||||
Structured Asset Mortgage Investments, Inc. (06-AR3-22A1) | 05/25/36 | 142,569 | 93,011 | |||||||||
WaMu Mortgage Pass-Through Certificates Series 2005-AR2 Trust (05-AR2-2A1B) | 01/25/45 | 103,465 | 105,237 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesNon-Agency (Cost: $1,941,108) |
| 1,918,773 | ||||||||||
|
| |||||||||||
U.S. TREASURY SECURITIES4.9% |
| |||||||||||
U.S. Treasury Bond | 05/15/51 | 300,000 | 332,320 | |||||||||
U.S. Treasury Note |
| |||||||||||
0.13% | 05/31/23 | 155,000 | 154,891 | |||||||||
0.13% | 06/30/23 | 310,000 | 309,746 | |||||||||
0.63% | 07/31/26 | 255,000 | 254,113 | |||||||||
0.75% | 05/31/26 | 180,000 | 180,654 | |||||||||
0.88% | 06/30/26 | 510,000 | 514,720 | |||||||||
1.63% | 05/15/31 | 60,000 | 62,208 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $1,793,811) | 1,808,652 | |||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $38,416,783) | 38,994,495 | |||||||||||
|
| |||||||||||
Issues | Shares | |||||||||||
MONEY MARKET INVESTMENTS4.8% | ||||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(11) |
| 1,769,215 | 1,769,215 | |||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $1,769,215) | 1,769,215 | |||||||||||
|
| |||||||||||
INVESTMENT COMPANIES3.4% | ||||||||||||
TCW Emerging Markets Income FundI Class(12) | 153,425 | 1,253,486 | ||||||||||
|
| |||||||||||
Total Investment Companies (Cost: $1,258,803) | 1,253,486 | |||||||||||
|
| |||||||||||
Total Investments (114.0%) (Cost: $41,444,801) |
| 42,017,196 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-14.0%) | (5,160,966 | ) | ||||||||||
Net Assets (100.0%) | $ | 36,856,230 | ||||||||||
|
|
TCW Global Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FORWARD CURRENCY EXCHANGE CONTRACTS
Counterparty | Contracts to Deliver | Units of Currency | Settlement Date | In Exchange for U.S. Dollars | Contracts at Value | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
BUY(13) | ||||||||||||||||||||||||
State Street Bank & Trust Co. | AUD | 37,000 | 10/22/21 | $ | 28,053 | $ | 27,207 | $ | (846 | ) | ||||||||||||||
Goldman Sachs & Co. | AUD | 270,000 | 10/22/21 | 198,134 | 198,536 | 402 | ||||||||||||||||||
Goldman Sachs & Co. | BRL | 720,000 | 08/31/21 | 135,780 | 139,345 | 3,565 | ||||||||||||||||||
State Street Bank & Trust Co. | CAD | 289,000 | 10/22/21 | 235,075 | 231,489 | (3,586 | ) | |||||||||||||||||
State Street Bank & Trust Co. | CNY | 237,000 | 10/22/21 | 36,287 | 36,498 | 211 | ||||||||||||||||||
JP Morgan Chase Bank | COP | 342,120,000 | 10/22/21 | 88,907 | 88,137 | (770 | ) | |||||||||||||||||
State Street Bank & Trust Co. | CZK | 3,981,000 | 10/22/21 | 185,062 | 185,109 | 47 | ||||||||||||||||||
Citibank N.A. | CZK | 3,135,427 | 10/22/21 | 146,675 | 145,791 | (884 | ) | |||||||||||||||||
Goldman Sachs & Co. | EUR | 32,419 | 08/02/21 | 38,543 | 38,442 | (101 | ) | |||||||||||||||||
State Street Bank & Trust Co. | EUR | 2,998,881 | 10/22/21 | 3,585,046 | 3,561,710 | (23,336 | ) | |||||||||||||||||
Goldman Sachs & Co. | EUR | 45,000 | 10/22/21 | 53,102 | 53,445 | 343 | ||||||||||||||||||
State Street Bank & Trust Co. | GBP | 100,000 | 08/19/21 | 138,842 | 139,040 | 198 | ||||||||||||||||||
State Street Bank & Trust Co. | GBP | 188,000 | 10/22/21 | 261,688 | 261,432 | (256 | ) | |||||||||||||||||
Goldman Sachs & Co. | HUF | 97,236,200 | 10/22/21 | 329,775 | 321,813 | (7,962 | ) | |||||||||||||||||
State Street Bank & Trust Co. | HUF | 11,170,000 | 10/22/21 | 36,784 | 36,968 | 184 | ||||||||||||||||||
Barclays Capital | HUF | 27,109,625 | 10/22/21 | 89,791 | 89,722 | (69 | ) | |||||||||||||||||
Goldman Sachs & Co. | ILS | 108,652 | 10/22/21 | 33,424 | 33,702 | 278 | ||||||||||||||||||
Goldman Sachs & Co. | JPY | 1,422,658 | 08/03/21 | 12,983 | 12,963 | (20 | ) | |||||||||||||||||
State Street Bank & Trust Co. | JPY | 270,108,000 | 10/22/21 | 2,443,215 | 2,462,677 | 19,462 | ||||||||||||||||||
Citibank N.A. | KRW | 410,335,058 | 10/22/21 | 357,978 | 356,321 | (1,657 | ) | |||||||||||||||||
Goldman Sachs & Co. | NZD | 50,000 | 10/22/21 | 35,130 | 34,882 | (248 | ) | |||||||||||||||||
State Street Bank & Trust Co. | NZD | 125,000 | 10/22/21 | 87,824 | 87,204 | (620 | ) | |||||||||||||||||
Goldman Sachs & Co. | PEN | 160,000 | 09/15/21 | 44,077 | 39,518 | (4,559 | ) | |||||||||||||||||
Goldman Sachs & Co. | PLN | 423,509 | 10/22/21 | 111,519 | 110,031 | (1,488 | ) | |||||||||||||||||
State Street Bank & Trust Co. | SEK | 2,100,000 | 10/22/21 | 247,693 | 244,219 | (3,474 | ) | |||||||||||||||||
Goldman Sachs & Co. | SGD | 159,822 | 08/03/21 | 118,102 | 118,028 | (74 | ) | |||||||||||||||||
Citibank N.A. | THB | 1,160,000 | 10/21/21 | 36,016 | 35,280 | (736 | ) | |||||||||||||||||
Goldman Sachs & Co. | ZAR | 2,081,705 | 10/22/21 | 140,910 | 140,870 | (40 | ) | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
$ | 9,256,415 | $ | 9,230,379 | $ | (26,036 | ) | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
SELL(14) | ||||||||||||||||||||||||
Goldman Sachs & Co. | AUD | 170,000 | 10/22/21 | $ | 125,641 | $ | 125,004 | $ | 637 | |||||||||||||||
State Street Bank & Trust Co. | AUD | 68,000 | 10/22/21 | 51,467 | 50,001 | 1,466 | ||||||||||||||||||
Goldman Sachs & Co. | BRL | 720,000 | 08/31/21 | 128,258 | 139,346 | (11,088 | ) | |||||||||||||||||
Goldman Sachs & Co. | BRL | 2,200,000 | 12/13/21 | 384,301 | 419,026 | (34,725 | ) | |||||||||||||||||
State Street Bank & Trust Co. | CAD | 45,000 | 10/22/21 | 35,925 | 36,045 | (120 | ) | |||||||||||||||||
Goldman Sachs & Co. | CLP | 183,904,769 | 10/22/21 | 244,065 | 241,675 | 2,390 | ||||||||||||||||||
Citibank N.A. | CLP | 83,687,660 | 10/22/21 | 109,889 | 109,976 | (87 | ) | |||||||||||||||||
Barclays Capital | CNH | 699,987 | 10/22/21 | 107,359 | 107,583 | (224 | ) | |||||||||||||||||
State Street Bank & Trust Co. | CNY | 2,989,791 | 10/22/21 | 459,446 | 460,433 | (987 | ) | |||||||||||||||||
Goldman Sachs & Co. | COP | 913,676,512 | 10/22/21 | 239,397 | 235,381 | 4,016 | ||||||||||||||||||
State Street Bank & Trust Co. | CZK | 3,885,000 | 10/22/21 | 181,362 | 180,644 | 718 | ||||||||||||||||||
Goldman Sachs & Co. | EUR | 30,000 | 10/22/21 | 35,724 | 35,630 | 94 | ||||||||||||||||||
State Street Bank & Trust Co. | EUR | 75,000 | 10/22/21 | 89,586 | 89,076 | 510 | ||||||||||||||||||
State Street Bank & Trust Co. | GBP | 200,000 | 10/22/21 | 276,927 | 278,120 | (1,193 | ) | |||||||||||||||||
State Street Bank & Trust Co. | HUF | 96,057,920 | 10/22/21 | 322,825 | 317,913 | 4,912 | ||||||||||||||||||
Goldman Sachs & Co. | HUF | 48,618,100 | 10/22/21 | 164,745 | 160,906 | 3,839 | ||||||||||||||||||
State Street Bank & Trust Co. | ILS | 54,326 | 10/22/21 | 16,702 | 16,851 | (149 | ) | |||||||||||||||||
Goldman Sachs & Co. | JPY | 1,425,000 | 10/22/21 | 13,013 | 12,992 | 21 | ||||||||||||||||||
State Street Bank & Trust Co. | JPY | 24,070,000 | 10/22/21 | 217,747 | 219,456 | (1,709 | ) | |||||||||||||||||
Goldman Sachs & Co. | KRW | 391,960,470 | 10/22/21 | 344,091 | 340,364 | 3,727 | ||||||||||||||||||
Goldman Sachs & Co. | MXN | 4,479,447 | 10/22/21 | 223,097 | 223,099 | (2 | ) | |||||||||||||||||
State Street Bank & Trust Co. | MXN | 1,510,000 | 10/22/21 | 75,108 | 75,206 | (98 | ) | |||||||||||||||||
Goldman Sachs & Co. | MYR | 516,940 | 10/22/21 | 123,810 | 122,089 | 1,721 | ||||||||||||||||||
Goldman Sachs & Co. | NOK | 960,000 | 10/22/21 | 108,626 | 108,660 | (34 | ) | |||||||||||||||||
State Street Bank & Trust Co. | NOK | 5,088,000 | 10/22/21 | 596,196 | 575,900 | 20,296 | ||||||||||||||||||
State Street Bank & Trust Co. | NZD | 198,000 | 10/22/21 | 140,073 | 138,131 | 1,942 | ||||||||||||||||||
Goldman Sachs & Co. | PEN | 160,000 | 09/15/21 | 44,420 | 39,518 | 4,902 | ||||||||||||||||||
Goldman Sachs & Co. | RON | 1,037,961 | 10/22/21 | 250,103 | 249,648 | 455 | ||||||||||||||||||
Goldman Sachs & Co. | SEK | 300,000 | 10/22/21 | 34,814 | 34,888 | (74 | ) | |||||||||||||||||
Goldman Sachs & Co. | SGD | 160,000 | 10/22/21 | 118,217 | 118,147 | 70 |
TCW Global Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Counterparty | Contracts to Deliver | Units of Currency | Settlement Date | In Exchange for U.S. Dollars | Contracts at Value | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
State Street Bank & Trust Co. | SGD | 359,000 | 10/22/21 | $ | 266,791 | $ | 265,093 | $ | 1,698 | |||||||||||||||
Citibank N.A. | ZAR | 4,878,000 | 10/22/21 | 335,037 | 330,098 | 4,939 | ||||||||||||||||||
Goldman Sachs & Co. | ZAR | 2,519,455 | 10/22/21 | 171,219 | 170,493 | 726 | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
$ | 6,035,981 | $ | 6,027,392 | $ | 8,589 | |||||||||||||||||||
|
|
|
|
|
|
FUTURES CONTRACTS |
Number of | Type | Expiration Date | Notional | Market Value | Net Unrealized Appreciation/ (Depreciation) | |||||||||||||
Long Futures |
| |||||||||||||||||
11 | 5-Year U.S. Treasury Note Futures | 09/30/21 | $ | 1,362,724 | $ | 1,368,898 | $ | 6,174 | ||||||||||
|
|
|
|
|
| |||||||||||||
Short Futures |
| |||||||||||||||||
7 | 10-Year U.S. Ultra Treasury Note Futures | 09/21/21 | $ | (1,010,298 | ) | $ | (1,051,750 | ) | $ | (41,452 | ) | |||||||
|
|
|
|
|
|
Notes to the Schedule of Investments:
ABS | Asset-Backed Securities. | |||||||||
CLO | Collateralized Loan Obligation. | |||||||||
EETC | Enhanced Equipment Trust Certificate. | |||||||||
I/F | Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates. | |||||||||
I/O | Interest Only Security. | |||||||||
PAC | Planned Amortization Class. | |||||||||
REIT | Real Estate Investment Trust. | |||||||||
SOFR | Secured Overnight Financing Rate. | |||||||||
TBA | To Be Announced. | |||||||||
AUD | Australian Dollar. | |||||||||
BRL | Brazilian Real. | |||||||||
CAD | Canadian Dollar. | |||||||||
CLP | Chilean Peso. | |||||||||
CNH | Chinese Yuan Renminbi. | |||||||||
CNY | Chinese Yuan. | |||||||||
COP | Colombian Peso. | |||||||||
CZK | Czech Koruna. | |||||||||
EUR | Euro Currency. | |||||||||
GBP | British Pound Sterling. | |||||||||
HUF | Hungarian Forint. | |||||||||
IDR | Indonesian Rupiah. | |||||||||
ILS | Israeli Shekel. | |||||||||
JPY | Japanese Yen. | |||||||||
KRW | South Korean Won. | |||||||||
MXN | Mexican Peso. | |||||||||
MYR | Malaysian Ringgit. | |||||||||
NOK | Norwegian Krona. | |||||||||
NZD | New Zealand Dollar. | |||||||||
PEN | Peruvian Nuevo Sol. | |||||||||
PLN | Polish Zloty. | |||||||||
RON | Romanian New Leu. | |||||||||
RUB | Russian Ruble. | |||||||||
SEK | Swedish Krona. | |||||||||
SGD | Singapore Dollar. | |||||||||
ZAR | South African Rand. | |||||||||
(1) | Investments issued under Regulation S of the Securities Act of 1933, as amended, may not be offered, sold, or delivered within the United States except under special exemptions. At July 31, 2021, the value of these securities amounted to $6,014,041 or 16.3% of net assets. | |||||||||
(2) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $5,668,883 or 15.4% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |||||||||
(3) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |||||||||
(4) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. | |||||||||
(5) | Security is not accruing interest. |
TCW Global Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
(6) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |||
(7) | Restricted security (Note 3). | |||
(8) | Security purchased on a forward commitment with an approximate principal amount. The actual principal amount and maturity date will be determined upon settlement when the security is delivered. | |||
(9) | A portion of the principal balance has been written-off during the period due to defaults in the underlying loans. Cost basis has been adjusted. | |||
(10) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |||
(11) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |||
(12) | Affiliated issuer. | |||
(13) | Fund buys foreign currency, sells U.S. Dollar. | |||
(14) | Fund sells foreign currency, buys U.S. Dollar. |
TCW Global Bond Fund
SCHEDULE OF INVESTMENTS (Continued)
The summary of the TCW Global Bond Fund transactions in the affiliated fund for the period ended July 31, 2021 is as follows:
Name of Affiliated Fund | Value at October 31, 2020 | Purchases at Cost | Proceeds from Sales | Number of Shares Held July 31, 2021 | Value at July 31, 2021 | Dividends and Interest Income Received | Distributions Received from Net Realized Gain | Net Realized Gain (Loss) on Investments | Net change in Unrealized Gain (Loss) on Investments | |||||||||||||||||||||||||||
TCW Emerging Markets Income FundI Class | $ | 691,609 | $ | 562,445 | $ | | 153,425 | $ | 1,253,486 | $ | 42,386 | $ | | $ | | $ | (568 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Total | $ | 1,253,486 | $ | 42,386 | $ | | $ | | $ | (568 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
TCW Global Bond Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Foreign Government Bonds | 45.5 | % | ||
Corporate Bonds | 24.0 | |||
Residential Mortgage-Backed SecuritiesAgency | 15.5 | |||
Residential Mortgage-Backed SecuritiesNon-Agency | 5.2 | |||
U.S. Treasury Securities | 4.9 | |||
Money Market Investments | 4.8 | |||
Asset-Backed Securities | 4.6 | |||
Commercial Mortgage-Backed SecuritiesNon-Agency | 4.1 | |||
Investment Companies | 3.4 | |||
Commercial Mortgage-Backed SecuritiesAgency | 1.4 | |||
Municipal Bonds | 0.6 | |||
Other* | (14.0 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes capstock, forward currency exchange contracts, futures, pending trades, interest receivable and accrued expenses payable. |
TCW Global Bond Fund
Investments by Country (Unaudited) | July 31, 2021 |
Country | Percentage of Net Assets | |||
Australia | 1.8 | % | ||
Bermuda | 0.4 | |||
Brazil | 1.1 | |||
Canada | 2.5 | |||
Cayman Islands | 4.5 | |||
Chile | 1.0 | |||
China | 9.3 | |||
Colombia | 1.0 | |||
Czech Republic | 0.4 | |||
France | 0.4 | |||
Great Britain | 4.9 | |||
Hungary | 0.2 | |||
Indonesia | 1.0 | |||
Ireland | 1.8 | |||
Israel | 0.4 | |||
Italy | 1.3 | |||
Japan | 6.2 | |||
Jersey | 0.3 | |||
Luxembourg | 0.4 | |||
Malaysia | 0.7 | |||
Mexico | 2.3 | |||
New Zealand | 0.5 | |||
Norway | 1.9 | |||
Panama | 0.1 | |||
Poland | 0.2 | |||
Portugal | 2.2 | |||
Romania | 1.5 | |||
Russia | 0.3 | |||
Saudi Arabia | 0.9 | |||
Singapore | 1.5 | |||
South Africa | 1.0 | |||
South Korea | 1.1 | |||
Spain | 3.1 | |||
Supranational | 0.2 | |||
Switzerland | 0.5 | |||
United Kingdom | 0.5 | |||
United States | 56.6 | |||
|
| |||
Total | 114.0 | % | ||
|
|
TCW Global Bond Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Corporate Bonds* | $ | | $ | 8,831,638 | $ | | $ | 8,831,638 | ||||||||
Municipal Bonds | | 228,964 | | 228,964 | ||||||||||||
Foreign Government Bonds | | 16,783,464 | | 16,783,464 | ||||||||||||
Asset-Backed Securities | | 1,702,579 | | 1,702,579 | ||||||||||||
Commercial Mortgage-Backed | | 502,642 | | 502,642 | ||||||||||||
Commercial Mortgage-Backed | | 1,505,520 | | 1,505,520 | ||||||||||||
Residential Mortgage-Backed | | 5,712,263 | | 5,712,263 | ||||||||||||
Residential Mortgage-Backed | | 1,826,556 | 92,217 | 1,918,773 | ||||||||||||
U.S. Treasury Securities | 1,808,652 | | | 1,808,652 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | 1,808,652 | 37,093,626 | 92,217 | 38,994,495 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 1,769,215 | | | 1,769,215 | ||||||||||||
Investment Companies | 1,253,486 | | | 1,253,486 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 4,831,353 | $ | 37,093,626 | $ | 92,217 | $ | 42,017,196 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | | 83,769 | | 83,769 | ||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | 6,174 | | | 6,174 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 4,837,527 | $ | 37,177,395 | $ | 92,217 | $ | 42,107,139 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Forward Currency Contracts | ||||||||||||||||
Foreign Currency Risk | $ | | $ | (101,216 | ) | $ | | $ | (101,216 | ) | ||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | (41,452 | ) | | | (41,452 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (41,452 | ) | $ | (101,216 | ) | $ | | $ | (142,668 | ) | |||||
|
|
|
|
|
|
|
|
* | See Schedule of Investments for corresponding industries. |
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES95.0% of Net Assets | ||||||||||||
BANK LOANS16.6% | ||||||||||||
Aerospace/Defense0.1% | ||||||||||||
TransDigm, Inc. 2020 Term Loan E | 05/30/25 | $ | 113,547 | $ | 111,677 | |||||||
|
| |||||||||||
Airlines0.1% | ||||||||||||
AAdvantage Loyalty IP Ltd. 2021 Term Loan | 04/20/28 | 70,000 | 72,074 | |||||||||
|
| |||||||||||
Beverages0.2% | ||||||||||||
Triton Water Holdings, Inc. Term Loan | 03/31/28 | 275,000 | 273,265 | |||||||||
|
| |||||||||||
Chemicals0.7% | ||||||||||||
Axalta Coating Systems U.S. Holdings, Inc., Term Loan B3 | 06/01/24 | 52,138 | 51,621 | |||||||||
Zep, Inc. 2017 1st Lien Term Loan | 08/12/24 | 710,114 | 691,651 | |||||||||
|
| |||||||||||
743,272 | ||||||||||||
|
| |||||||||||
Commercial Services1.1% | ||||||||||||
Amentum Government Services Holdings LLC 2020 Term Loan B | 01/29/27 | 249,375 | 250,310 | |||||||||
Rent-A-Center, Inc. 2021 Term Loan B | 02/17/28 | 548,625 | 551,368 | |||||||||
Spin Holdco, Inc. 2021 Term Loan | 03/01/28 | 423,938 | 424,150 | |||||||||
|
| |||||||||||
1,225,828 | ||||||||||||
|
| |||||||||||
Computers0.7% | ||||||||||||
Peraton Holding Corp. Term Loan B | 02/01/28 | 633,413 | 633,808 | |||||||||
TierPoint, LLC 2021 Term Loan | 05/05/26 | 194,643 | 194,829 | |||||||||
|
| |||||||||||
828,637 | ||||||||||||
|
| |||||||||||
Electric0.1% | ||||||||||||
Vistra Operations Co. LLC 1st Lien Term Loan B3 | 12/31/25 | 67,308 | 66,521 | |||||||||
|
| |||||||||||
Entertainment1.3% | ||||||||||||
Churchill Downs, Inc., 2017 Term Loan B | 12/27/24 | 338,544 | 336,218 | |||||||||
Crown Finance US, Inc. 2018 USD Term Loan | 02/28/25 | 765,860 | 623,652 | |||||||||
Crown Finance US, Inc. 2020 Term Loan B1 | 05/23/24 | 205,903 | 256,459 | |||||||||
Golden Nugget, Inc. 2020 Initial Term Loan | 10/04/23 | 3,020 | 3,367 | |||||||||
Scientific Games International, Inc., 2018 Term Loan B5 | 08/14/24 | 310,730 | 306,566 | |||||||||
|
| |||||||||||
1,526,262 | ||||||||||||
|
| |||||||||||
Environmental Control0.0% | ||||||||||||
GFL Environmental, Inc. 2020 Term Loan | 05/30/25 | 49,367 | 49,402 | |||||||||
|
| |||||||||||
Food0.5% | ||||||||||||
Dhanani Group, Inc., 2018 Term Loan B | 07/20/25 | 556,642 | 553,628 | |||||||||
|
| |||||||||||
Health Care-Products0.2% | ||||||||||||
Auris Luxembourg III Sarl, 2018 USD Term Loan B2 | 02/27/26 | 16,129 | 15,917 | |||||||||
Avantor, Inc. 2021 Term Loan B5 | 11/08/27 | 248,750 | 248,258 | |||||||||
|
| |||||||||||
264,175 | ||||||||||||
|
| |||||||||||
Health Care-Services1.6% | ||||||||||||
ADMI Corp. 2021 Term Loan B2 | 12/23/27 | 274,313 | 270,129 | |||||||||
eResearchTechnology, Inc. 2020 1st Lien Term Loan | 02/04/27 | 129,347 | 129,751 | |||||||||
Gentiva Health Services, Inc., 2020 Term Loan | 07/02/25 | 153,289 | 152,907 | |||||||||
ICON Luxembourg Sarl LUX Term Loan | 07/03/28 | 580,394 | 579,875 | |||||||||
ICON Luxembourg Sarl US Term Loan | 07/03/28 | 144,606 | 144,476 | |||||||||
IQVIA, Inc., 2018 USD Term Loan B3 | 06/11/25 | 189,331 | 187,496 | |||||||||
PPD, Inc. Initial Term Loan | 01/13/28 | 389,025 | 388,506 | |||||||||
|
| |||||||||||
1,853,140 | ||||||||||||
|
| |||||||||||
Insurance0.6% | ||||||||||||
Acrisure, LLC 2020 Term Loan B | 02/15/27 | 298,489 | 293,675 | |||||||||
Worley Claims Services, LLC 2019 Term Loan B | 06/03/26 | 427,817 | 426,213 | |||||||||
|
| |||||||||||
719,888 | ||||||||||||
|
| |||||||||||
Lodging0.5% | ||||||||||||
CityCenter Holdings LLC, 2017 Term Loan B | 04/18/24 | 237,886 | 237,477 | |||||||||
Golden Nugget, Inc. 2017 Incremental Term Loan B | 10/04/23 | 287,552 | 285,138 | |||||||||
|
| |||||||||||
522,615 | ||||||||||||
|
|
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Machinery-Diversified0.2% |
| |||||||||||
Titan Acquisition Ltd. 2018 Term Loan B | 03/28/25 | $ | 199,116 | $ | 195,393 | |||||||
|
| |||||||||||
Media2.4% | ||||||||||||
CSC Holdings, LLC 2017 Term Loan B | 07/17/25 | 1,573,002 | 1,552,026 | |||||||||
DirecTV Financing, LLC Term Loan | 07/22/27 | 900,000 | 899,330 | |||||||||
Nexstar Broadcasting, Inc. 2018 Term Loan B3 | 01/17/24 | 289,999 | 288,368 | |||||||||
Sinclair Television Group, Inc., Term Loan B2B | 09/30/26 | 19,650 | 19,398 | |||||||||
|
| |||||||||||
2,759,122 | ||||||||||||
|
| |||||||||||
Packaging & Containers1.8% | ||||||||||||
BWAY Holding Co. 2017 Term Loan B | 04/03/24 | 348,184 | 337,710 | |||||||||
Charter NEX US, Inc. 2021 Term Loan | 12/01/27 | 378,100 | 378,257 | |||||||||
Plaze, Inc. 2020 Incremental Term Loan | 08/03/26 | 213,390 | 212,323 | |||||||||
Proampac PG Borrower LLC 2020 Term Loan | 11/03/25 | 379,050 | 379,287 | |||||||||
Reynolds Group Holdings, Inc., 2017 Term Loan | 02/05/23 | 293,761 | 293,131 | |||||||||
Trident TPI Holdings, Inc. 2017 USD Term Loan B1 | 10/17/24 | 496,144 | 495,472 | |||||||||
|
| |||||||||||
2,096,180 | ||||||||||||
|
| |||||||||||
Pharmaceuticals1.0% | ||||||||||||
Alphabet Holding Co., Inc., 2017 1st Lien Term Loan | 09/26/24 | 74,649 | 74,639 | |||||||||
Change Healthcare Holdings LLC 2017 Term Loan B | 03/01/24 | 698,172 | 697,701 | |||||||||
Elanco Animal Health, Inc. Term Loan B | 08/02/27 | 277,931 | 273,215 | |||||||||
Endo Luxembourg Finance Company I Sarl 2021 Term Loan | 03/27/28 | 37,448 | 36,666 | |||||||||
|
| |||||||||||
1,082,221 | ||||||||||||
|
| |||||||||||
REIT0.5% | ||||||||||||
VICI Properties 1 LLC, Term Loan B | 12/20/24 | 545,000 | 540,106 | |||||||||
|
| |||||||||||
Retail0.1% | ||||||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4 | 11/19/26 | 79,420 | 77,992 | |||||||||
|
| |||||||||||
Software0.6% | ||||||||||||
CT Technologies Intermediate Holdings, Inc. 2021 Term Loan B | 12/16/25 | 144,638 | 144,988 | |||||||||
RealPage, Inc. 1st Lien Term Loan | 04/24/28 | 175,000 | 174,158 | |||||||||
SS&C European Holdings Sarl, 2018 Term Loan B4 | 04/16/25 | 175,086 | 172,827 | |||||||||
SS&C Technologies, Inc., 2018 Term Loan B3 | 04/16/25 | 221,017 | 218,166 | |||||||||
|
| |||||||||||
710,139 | ||||||||||||
|
| |||||||||||
Telecommunications2.3% | ||||||||||||
CenturyLink, Inc. 2020 Term Loan B | 03/15/27 | 68,950 | 67,951 | |||||||||
Frontier Communications Corp. 2021 DIP Term Loan B | 05/01/28 | 548,625 | 549,314 | |||||||||
GTT Communications, Inc., 2018 USD Term Loan B | 05/31/25 | 98,228 | 78,034 | |||||||||
Intelsat Jackson Holdings S.A. 2017 Term Loan B3 | 11/27/23 | 1,100,000 | 1,120,284 | |||||||||
Intelsat Jackson Holdings S.A., 2017 Term Loan B5 | 01/02/24 | 14,000 | 14,283 | |||||||||
Level 3 Financing, Inc., 2019 Term Loan B | 03/01/27 | 138,304 | 135,582 | |||||||||
Maxar Technologies Ltd., Term Loan B | 10/04/24 | 216,250 | 214,391 | |||||||||
SBA Senior Finance II LLC, 2018 Term Loan B | 04/11/25 | 264,159 | 261,797 | |||||||||
Zayo Group Holdings, Inc. USD Term Loan | 03/09/27 | 160,342 | 157,951 | |||||||||
|
| |||||||||||
2,599,587 | ||||||||||||
|
| |||||||||||
Total Bank Loans (Cost: $18,669,158) |
| 18,871,124 | ||||||||||
|
| |||||||||||
CORPORATE BONDS78.4% | ||||||||||||
Agriculture0.4% | ||||||||||||
BAT Capital Corp. | 04/02/50 | 401,000 | 475,599 | |||||||||
|
| |||||||||||
Airlines0.9% | ||||||||||||
American Airlines, Inc./AAdvantage Loyalty IP, Ltd. | 04/20/29 | 375,000 | 406,587 | |||||||||
Delta Air Lines, Inc. / SkyMiles IP, Ltd. | 10/20/28 | 275,000 | 307,605 | |||||||||
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets, Ltd. | 06/20/27 | 283,000 | 308,283 | |||||||||
|
| |||||||||||
1,022,475 | ||||||||||||
|
| |||||||||||
Auto Manufacturers2.7% | ||||||||||||
Ford Motor Credit Co. LLC | 03/28/22 | 1,600,000 | 1,595,278 |
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
2.90% | 02/16/28 | $ | 480,000 | $ | 481,800 | |||||||
2.98% | 08/03/22 | 120,000 | 121,804 | |||||||||
3.10% | 05/04/23 | 835,000 | 852,856 | |||||||||
|
| |||||||||||
3,051,738 | ||||||||||||
|
| |||||||||||
Banks0.5% | ||||||||||||
Credit Suisse Group AG | 05/14/32 | 485,000 | 508,076 | |||||||||
|
| |||||||||||
Beverages0.3% | ||||||||||||
Primo Water Holdings, Inc. | 04/30/29 | 300,000 | 300,375 | |||||||||
|
| |||||||||||
Biotechnology0.5% | ||||||||||||
HCRX Investments Holdco LP | 08/01/29 | 530,000 | 541,262 | |||||||||
|
| |||||||||||
Chemicals0.6% | ||||||||||||
Herens Holdco Sarl | 05/15/28 | 725,000 | 720,258 | |||||||||
|
| |||||||||||
Commercial Services2.4% | ||||||||||||
Adtalem Global Education, Inc. | 03/01/28 | 380,000 | 390,499 | |||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl | 06/01/28 | 250,000 | 250,945 | |||||||||
Carriage Services, Inc. | 05/15/29 | 277,000 | 277,233 | |||||||||
Gartner, Inc. | ||||||||||||
3.75%(3) | 10/01/30 | 80,000 | 82,600 | |||||||||
4.50%(3) | 07/01/28 | 296,000 | 313,390 | |||||||||
IHS Markit, Ltd. | ||||||||||||
4.75%(3) | 02/15/25 | 80,000 | 89,628 | |||||||||
5.00%(3) | 11/01/22 | 176,000 | 183,728 | |||||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. 3.38% (3) | 08/31/27 | 557,000 | 542,284 | |||||||||
Service Corp. International 3.38% | 08/15/30 | 180,000 | 179,735 | |||||||||
WW International, Inc. 4.50%(3) | 04/15/29 | 365,000 | 371,687 | |||||||||
|
| |||||||||||
2,681,729 | ||||||||||||
|
| |||||||||||
Computers1.0% | ||||||||||||
Booz Allen Hamilton, Inc. 3.88%(3) | 09/01/28 | 545,000 | 556,674 | |||||||||
NCR Corp. | ||||||||||||
5.13%(3) | 04/15/29 | 60,000 | 62,533 | |||||||||
5.25%(3) | 10/01/30 | 226,000 | 238,154 | |||||||||
Science Applications International Corp. | 04/01/28 | 275,000 | 289,542 | |||||||||
|
| |||||||||||
1,146,903 | ||||||||||||
|
| |||||||||||
Cosmetics/Personal Care0.2% | ||||||||||||
Edgewell Personal Care Co. | 06/01/28 | 216,000 | 228,919 | |||||||||
|
| |||||||||||
Diversified Financial Services0.5% | ||||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | 01/15/25 | 172,000 | 183,092 | |||||||||
GE Capital International Funding Co. Unlimited Co. (Ireland) | 11/15/35 | 127,000 | 154,970 | |||||||||
Park Aerospace Holdings, Ltd. | 03/15/23 | 251,000 | 263,990 | |||||||||
|
| |||||||||||
602,052 | ||||||||||||
|
| |||||||||||
Electric1.8% | ||||||||||||
FirstEnergy Corp. | ||||||||||||
2.65% | 03/01/30 | 670,000 | 683,613 | |||||||||
3.40% | 03/01/50 | 574,000 | 579,460 | |||||||||
5.60% | 07/15/47 | 280,000 | 353,506 | |||||||||
Jersey Central Power & Light Co. | 03/01/32 | 125,000 | 130,984 | |||||||||
Vistra Operations Co. LLC | 07/15/24 | 309,000 | 329,765 | |||||||||
|
| |||||||||||
2,077,328 | ||||||||||||
|
| |||||||||||
Electrical Components & Equipment0.4% | ||||||||||||
Energizer Holdings, Inc. | 06/15/28 | 392,000 | 403,760 | |||||||||
|
| |||||||||||
Engineering & Construction0.3% | ||||||||||||
PowerTeam Services LLC | 12/04/25 | 255,000 | 282,020 | |||||||||
|
| |||||||||||
Entertainment2.6% | ||||||||||||
Banijay Entertainment SASU | 03/01/25 | 270,000 | 279,196 | |||||||||
Caesars Entertainment, Inc. | 07/01/25 | 535,000 | 565,436 | |||||||||
Churchill Downs, Inc. | ||||||||||||
4.75%(3) | 01/15/28 | 135,000 | 140,231 | |||||||||
5.50%(3) | 04/01/27 | 351,000 | 366,023 | |||||||||
Cinemark USA, Inc. | ||||||||||||
5.25%(3) | 07/15/28 | 175,000 | 164,938 | |||||||||
8.75%(3) | 05/01/25 | 337,000 | 360,994 | |||||||||
Everi Holdings, Inc. 5.00%(3) | 07/15/29 | 115,000 | 117,875 | |||||||||
Live Nation Entertainment, Inc. | ||||||||||||
3.75%(3) | 01/15/28 | 275,000 | 275,688 | |||||||||
6.50%(3) | 05/15/27 | 170,000 | 187,850 | |||||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. | ||||||||||||
5.13%(3) | 10/01/29 | 336,000 | 349,796 | |||||||||
7.75%(3) | 04/15/25 | 111,000 | 118,631 | |||||||||
|
| |||||||||||
2,926,658 | ||||||||||||
|
| |||||||||||
Environmental Control1.2% | ||||||||||||
Clean Harbors, Inc. | ||||||||||||
4.88%(3) | 07/15/27 | 68,000 | 71,542 | |||||||||
5.13%(3) | 07/15/29 | 700,000 | 766,500 | |||||||||
GFL Environmental, Inc. (Canada) | ||||||||||||
4.25%(3) | 06/01/25 | 310,000 | 322,400 | |||||||||
5.13%(3) | 12/15/26 | 189,000 | 198,698 | |||||||||
|
| |||||||||||
1,359,140 | ||||||||||||
|
| |||||||||||
Food6.8% | ||||||||||||
Chobani LLC / Chobani Finance Corp, Inc. | 11/15/28 | 321,000 | 335,943 | |||||||||
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. | ||||||||||||
3.75%(3) | 12/01/31 | 250,000 | 256,512 | |||||||||
5.50%(3) | 01/15/30 | 795,000 | 888,468 | |||||||||
6.50%(3) | 04/15/29 | 475,000 | 535,586 | |||||||||
Kraft Heinz Foods Co. | ||||||||||||
3.00% | 06/01/26 | 1,611,000 | 1,714,797 | |||||||||
4.63% | 01/30/29 | 444,000 | 514,525 | |||||||||
Lamb Weston Holdings, Inc. | 11/01/24 | 600,000 | 616,473 | |||||||||
Nathans Famous, Inc. | 11/01/25 | 15,000 | 15,487 |
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Post Holdings, Inc. | ||||||||||||
4.50%(3) | 09/15/31 | $ | 815,000 | $ | 825,196 | |||||||
4.63%(3) | 04/15/30 | 1,175,000 | 1,198,612 | |||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed | 03/01/29 | 385,000 | 389,847 | |||||||||
Smithfield Foods, Inc. | ||||||||||||
3.35%(3) | 02/01/22 | 228,000 | 231,192 | |||||||||
5.20%(3) | 04/01/29 | 217,000 | 255,099 | |||||||||
|
| |||||||||||
7,777,737 | ||||||||||||
|
| |||||||||||
Forest Products & Paper0.3% | ||||||||||||
Clearwater Paper Corp. | 08/15/28 | 389,000 | 393,617 | |||||||||
|
| |||||||||||
Health Care-Products0.9% | ||||||||||||
Hologic, Inc. | ||||||||||||
3.25%(3) | 02/15/29 | 205,000 | 207,716 | |||||||||
4.63%(3) | 02/01/28 | 90,000 | 95,400 | |||||||||
Teleflex, Inc. | 06/01/28 | 687,000 | 717,056 | |||||||||
|
| |||||||||||
1,020,172 | ||||||||||||
|
| |||||||||||
Health Care-Services6.8% | ||||||||||||
Catalent Pharma Solutions, Inc. | 07/15/27 | 798,000 | 837,708 | |||||||||
Centene Corp. | ||||||||||||
2.45% | 07/15/28 | 1,070,000 | 1,084,349 | |||||||||
3.00% | 10/15/30 | 392,000 | 407,939 | |||||||||
4.63% | 12/15/29 | 534,000 | 585,905 | |||||||||
Encompass Health Corp. | 02/01/30 | 266,000 | 284,620 | |||||||||
HCA, Inc. | 06/15/25 | 200,000 | 244,750 | |||||||||
IQVIA, Inc. | 05/15/27 | 265,000 | 277,256 | |||||||||
ModivCare, Inc. 5.88% (3) | 11/15/25 | 347,000 | 369,293 | |||||||||
Molina Healthcare, Inc. | ||||||||||||
3.88%(3) | 11/15/30 | 1,399,000 | 1,483,234 | |||||||||
4.38%(3) | 06/15/28 | 350,000 | 366,362 | |||||||||
5.38% | 11/15/22 | 552,000 | 576,727 | |||||||||
Prime Healthcare Services, Inc. | 11/01/25 | 520,000 | 559,000 | |||||||||
Tenet Healthcare Corp. | 01/01/26 | 640,000 | 661,600 | |||||||||
|
| |||||||||||
7,738,743 | ||||||||||||
|
| |||||||||||
Household Products/Wares0.8% | ||||||||||||
Central Garden & Pet Co. | 10/15/30 | 279,000 | 288,101 | |||||||||
Spectrum Brands, Inc. | ||||||||||||
3.88%(3) | 03/15/31 | 125,000 | 125,207 | |||||||||
5.00%(3) | 10/01/29 | 452,000 | 481,380 | |||||||||
|
| |||||||||||
894,688 | ||||||||||||
|
| |||||||||||
Housewares0.4% | ||||||||||||
Newell Brands, Inc. | ||||||||||||
4.35% | 04/01/23 | 85,000 | 89,059 | |||||||||
4.88% | 06/01/25 | 355,000 | 395,381 | |||||||||
|
| |||||||||||
484,440 | ||||||||||||
|
| |||||||||||
Insurance0.9% | ||||||||||||
Acrisure LLC / Acrisure Finance, Inc. | 02/15/29 | 450,000 | 438,885 | |||||||||
AmWINS Group, Inc. | 06/30/29 | 575,000 | 587,219 | |||||||||
|
| |||||||||||
1,026,104 | ||||||||||||
|
| |||||||||||
Internet0.5% | ||||||||||||
Cogent Communications Group, Inc. | 05/01/26 | 556,000 | 572,975 | |||||||||
|
| |||||||||||
Lodging0.2% | ||||||||||||
Wyndham Hotels & Resorts, Inc. | 08/15/28 | 212,000 | 219,342 | |||||||||
|
| |||||||||||
Machinery-Construction & Mining0.5% | ||||||||||||
BWX Technologies, Inc. | 06/30/28 | 560,000 | 574,476 | |||||||||
|
| |||||||||||
Media11.1% | ||||||||||||
Block Communications, Inc. | 03/01/28 | 355,000 | 361,656 | |||||||||
Cable One, Inc. | 11/15/30 | 550,000 | 556,188 | |||||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||||||
4.50% | 05/01/32 | 686,000 | 718,173 | |||||||||
5.50%(3) | 05/01/26 | 2,552,000 | 2,644,434 | |||||||||
CSC Holdings LLC | ||||||||||||
3.38%(3) | 02/15/31 | 547,000 | 520,142 | |||||||||
6.50%(3) | 02/01/29 | 889,000 | 983,087 | |||||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | 08/15/26 | 1,430,000 | 831,974 | |||||||||
DISH DBS Corp. | ||||||||||||
5.88% | 11/15/24 | 31,000 | 33,459 | |||||||||
7.38% | 07/01/28 | 607,000 | 657,496 | |||||||||
7.75% | 07/01/26 | 30,000 | 34,275 | |||||||||
Midcontinent Communications / Midcontinent Finance Corp. | 08/15/27 | 260,000 | 271,705 | |||||||||
Sinclair Television Group, Inc. | 12/01/30 | 987,000 | 959,033 | |||||||||
Sirius XM Radio, Inc. | ||||||||||||
3.88%(3) | 08/01/22 | 1,510,000 | 1,513,775 | |||||||||
5.50%(3) | 07/01/29 | 280,000 | 307,129 | |||||||||
Virgin Media Secured Finance PLC (United Kingdom) | ||||||||||||
4.50%(3) | 08/15/30 | 1,696,000 | 1,710,535 | |||||||||
5.50%(3) | 05/15/29 | 543,000 | 580,809 | |||||||||
|
| |||||||||||
12,683,870 | ||||||||||||
|
| |||||||||||
Miscellaneous Manufacturers0.0% | ||||||||||||
General Electric Co. | 08/15/36 | 52,000 | 44,931 | |||||||||
|
| |||||||||||
Oil & Gas4.1% | ||||||||||||
Antero Resources Corp. | 02/01/29 | 99,000 | 108,870 | |||||||||
Devon Energy Corp. | 06/15/45 | 145,000 | 171,847 | |||||||||
Endeavor Energy Resources LP / EER Finance, Inc. | 01/30/28 | 459,000 | 481,565 | |||||||||
Hess Corp. | 02/15/41 | 92,000 | 115,841 | |||||||||
Occidental Petroleum Corp. | ||||||||||||
0.00%(4) | 10/10/36 | 1,950,000 | 1,023,048 | |||||||||
3.50% | 08/15/29 | 823,000 | 821,922 | |||||||||
4.40% | 08/15/49 | 723,000 | 704,267 | |||||||||
Petroleos Mexicanos | 01/23/50 | 65,000 | 63,261 | |||||||||
SM Energy Co. | 07/15/28 | 250,000 | 249,400 |
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Sunoco LP / Sunoco Finance Corp. | ||||||||||||
4.50% | 05/15/29 | $ | 345,000 | $ | 355,350 | |||||||
5.88% | 03/15/28 | 548,000 | 576,770 | |||||||||
Valaris, Ltd. | 04/30/28 | 5,000 | 5,166 | |||||||||
|
| |||||||||||
4,677,307 | ||||||||||||
|
| |||||||||||
Oil & Gas Services1.5% | ||||||||||||
Archrock Partners LP / Archrock Partners Finance Corp. | 04/01/28 | 758,000 | 776,002 | |||||||||
USA Compression Partners LP / USA Compression Finance Corp. | ||||||||||||
6.88% | 04/01/26 | 348,000 | 364,941 | |||||||||
6.88% | 09/01/27 | 534,000 | 565,335 | |||||||||
|
| |||||||||||
1,706,278 | ||||||||||||
|
| |||||||||||
Packaging & Containers4.8% | ||||||||||||
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. (Ireland) | 08/15/26 | 774,000 | 803,025 | |||||||||
Ball Corp. | ||||||||||||
4.00% | 11/15/23 | 639,000 | 680,823 | |||||||||
4.88% | 03/15/26 | 374,000 | 418,412 | |||||||||
5.25% | 07/01/25 | 311,000 | 351,149 | |||||||||
Graphic Packaging International LLC | ||||||||||||
3.50%(3) | 03/15/28 | 1,082,000 | 1,100,578 | |||||||||
4.75%(3) | 07/15/27 | 85,000 | 92,119 | |||||||||
Graphic Packaging International, Inc. | 08/15/24 | 100,000 | 107,114 | |||||||||
Intertape Polymer Group, Inc. | 06/15/29 | 555,000 | 568,492 | |||||||||
Sealed Air Corp. | ||||||||||||
4.00%(3) | 12/01/27 | 582,000 | 622,740 | |||||||||
4.88%(3) | 12/01/22 | 150,000 | 155,937 | |||||||||
5.50%(3) | 09/15/25 | 304,000 | 339,276 | |||||||||
Silgan Holdings, Inc. | 02/01/28 | 125,000 | 129,847 | |||||||||
Trivium Packaging Finance BV (Netherlands) | 08/15/26 | 125,000 | 131,141 | |||||||||
|
| |||||||||||
5,500,653 | ||||||||||||
|
| |||||||||||
Pharmaceuticals2.3% | ||||||||||||
Bausch Health Cos, Inc. (Canada) | ||||||||||||
4.88%(3) | 06/01/28 | 890,000 | 919,450 | |||||||||
5.75%(3) | 08/15/27 | 18,000 | 19,013 | |||||||||
Elanco Animal Health, Inc. | ||||||||||||
5.27% | 08/28/23 | 401,000 | 429,756 | |||||||||
5.90% | 08/28/28 | 339,000 | 406,478 | |||||||||
Organon & Co. / Organon Foreign Debt Co-Issuer BV | ||||||||||||
4.13%(3) | 04/30/28 | 150,000 | 154,007 | |||||||||
5.13%(3) | 04/30/31 | 401,000 | 413,531 | |||||||||
Owens & Minor, Inc. | 03/31/29 | 250,000 | 257,660 | |||||||||
|
| |||||||||||
2,599,895 | ||||||||||||
|
| |||||||||||
Pipelines4.0% | ||||||||||||
DCP Midstream Operating LP | 04/01/44 | 136,000 | 156,392 | |||||||||
Energy Transfer LP | ||||||||||||
5.35% | 05/15/45 | 126,000 | 149,159 | |||||||||
5.00% | 05/15/50 | 135,000 | 158,521 | |||||||||
5.40% | 10/01/47 | 40,000 | 48,262 | |||||||||
6.63% (3 mo. USD LIBOR + 4.155%)(1) | 02/15/28 | 897,000 | 884,577 | |||||||||
NGL Energy Operating LLC / NGL Energy Finance Corp. | 02/01/26 | 500,000 | 515,910 | |||||||||
Rockies Express Pipeline LLC | ||||||||||||
4.80%(3) | 05/15/30 | 30,000 | 30,670 | |||||||||
6.88%(3) | 04/15/40 | 541,000 | 572,378 | |||||||||
Ruby Pipeline LLC | 04/01/22 | 210,152 | 198,593 | |||||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 03/01/30 | 305,000 | 337,025 | |||||||||
TransMontaigne Partners LP / TLP Finance Corp. | 02/15/26 | 587,000 | 597,272 | |||||||||
Venture Global Calcasieu Pass LLC | 08/15/31 | 825,000 | 851,425 | |||||||||
|
| |||||||||||
4,500,184 | ||||||||||||
|
| |||||||||||
REIT2.9% | ||||||||||||
American Assets Trust LP | 02/01/31 | 600,000 | 631,632 | |||||||||
CyrusOne LP / CyrusOne Finance Corp. | 11/15/29 | 801,000 | 860,779 | |||||||||
GLP Capital LP / GLP Financing II, Inc. | 06/01/28 | 473,000 | 569,180 | |||||||||
Iron Mountain, Inc. | 07/15/30 | 217,000 | 231,512 | |||||||||
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. | ||||||||||||
4.50% | 01/15/28 | 40,000 | 42,538 | |||||||||
4.63%(3) | 06/15/25 | 307,000 | 327,461 | |||||||||
5.63% | 05/01/24 | 106,000 | 114,868 | |||||||||
SL Green Operating Partnership LP | 10/15/22 | 500,000 | 514,760 | |||||||||
|
| |||||||||||
3,292,730 | ||||||||||||
|
| |||||||||||
Retail2.3% | ||||||||||||
1011778 BC ULC / New Red Finance, Inc. | 02/15/29 | 842,000 | 839,365 | |||||||||
Bloomin Brands, Inc. / OSI Restaurant Partners LLC | 04/15/29 | 245,000 | 252,656 | |||||||||
Michaels Cos, Inc. (The) | ||||||||||||
5.25% (3) | 05/01/28 | 1,060,000 | 1,098,462 | |||||||||
7.88% (3) | 05/01/29 | 125,000 | 129,878 | |||||||||
Murphy Oil USA, Inc. | 02/15/31 | 307,000 | 307,577 | |||||||||
|
| |||||||||||
2,627,938 | ||||||||||||
|
| |||||||||||
Software0.7% | ||||||||||||
SS&C Technologies, Inc. | 09/30/27 | 787,000 | 833,905 | |||||||||
|
| |||||||||||
Telecommunications10.1% | ||||||||||||
AT&T, Inc. | ||||||||||||
3.55%(3) | 09/15/55 | 768,000 | 795,532 | |||||||||
4.50% | 05/15/35 | 305,000 | 365,760 | |||||||||
Frontier Communications Holdings LLC | 05/01/28 | 543,000 | 562,315 | |||||||||
Level 3 Financing, Inc. | ||||||||||||
3.63%(3) | 01/15/29 | 225,000 | 219,064 | |||||||||
4.25%(3) | 07/01/28 | 1,452,000 | 1,480,880 | |||||||||
Lumen Technologies, Inc. | ||||||||||||
4.00%(3) | 02/15/27 | 818,000 | 842,156 | |||||||||
5.38%(3) | 06/15/29 | 600,000 | 616,647 | |||||||||
Qwest Corp. | ||||||||||||
6.75% | 12/01/21 | 373,000 | 380,169 | |||||||||
7.25% | 09/15/25 | 250,000 | 296,875 |
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
SES Global Americas Holdings GP | 03/25/44 | $ | 559,000 | $ | 667,790 | |||||||
Sprint Corp. | 09/15/23 | 1,846,000 | 2,090,872 | |||||||||
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | 09/20/29 | 907,000 | 1,047,231 | |||||||||
T-Mobile USA, Inc. | ||||||||||||
2.25% | 02/15/26 | 1,000,000 | 1,012,910 | |||||||||
2.25%(3) | 02/15/26 | 600,000 | 607,092 | |||||||||
Vmed O2 UK Financing I PLC | 01/31/31 | 560,000 | 555,845 | |||||||||
|
| |||||||||||
11,541,138 | ||||||||||||
|
| |||||||||||
Water0.2% | ||||||||||||
Solaris Midstream Holdings LLC | 04/01/26 | 185,000 | 194,015 | |||||||||
|
| |||||||||||
Total Corporate Bonds (Cost: $86,390,338) |
| 89,233,430 | ||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $105,059,496) |
| 108,104,554 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
COMMON STOCK0.0% |
| |||||||||||
Electric0.0% | ||||||||||||
Homer City Holdings LLCSeries A(5),(7) | 5,610 | | ||||||||||
|
| |||||||||||
Oil & Gas0.0% | ||||||||||||
Valaris, Ltd.(7) | 668 | 18,103 | ||||||||||
|
| |||||||||||
Total Common Stock (Cost: $340,348) |
| 18,103 | ||||||||||
|
| |||||||||||
MONEY MARKET INVESTMENTS2.2% | ||||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, | 2,509,958 | 2,509,958 | ||||||||||
Total Money Market Investments (Cost: $2,509,958) |
| 2,509,958 | ||||||||||
|
| |||||||||||
WARRANTS% (Cost: $) |
| |||||||||||
Entertainment0.0% | ||||||||||||
Cineworld Group PLC(7) | 42,717 | 18,582 | ||||||||||
|
| |||||||||||
Total Warrants (Cost: $) |
| 18,582 | ||||||||||
|
| |||||||||||
Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS4.5% |
| |||||||||||
U.S. TREASURY SECURITIES4.5% |
| |||||||||||
U.S. Treasury Bill | ||||||||||||
0.02%(9) | 08/12/21 | 3,090,000 | 3,089,974 | |||||||||
0.05%(9) | 01/06/22 | 2,000,000 | 1,999,564 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $5,089,543) |
| 5,089,538 | ||||||||||
|
| |||||||||||
Total Short Term Investments (Cost: $5,089,543) |
| 5,089,538 | ||||||||||
|
| |||||||||||
Total Investments (101.7%) (Cost: $112,999,345) |
| 115,740,735 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-1.7%) |
| (1,940,446 | ) | |||||||||
Net Assets (100.0%) |
| $ | 113,800,289 | |||||||||
|
|
TCW High Yield Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Futures Contracts | ||||||||||
Number of | Type | Expiration | Notional | Market | Net Unrealized | |||||
Short Futures | ||||||||||
14 | 10-Year U.S. Ultra Treasury Note Futures | 09/21/21 | $(2,080,220) | $(2,103,500) | $(23,280) | |||||
16 | 5-Year U.S. Treasury Note Futures | 09/30/21 | (1,991,218) | (1,991,125) | 93 | |||||
5 | U.S. Ultra Long Bond Futures | 09/21/21 | (933,145) | (997,656) | (64,511) | |||||
|
|
| ||||||||
$(5,004,583) | $(5,092,281) | $(87,698) | ||||||||
|
|
|
Notes to the Schedule of Investments:
EETC | Enhanced Equipment Trust Certificate. | |||||
REIT | Real Estate Investment Trust. | |||||
SOFR | Secured Overnight Financing Rate. | |||||
(1) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |||||
(2) | This position represents an unsettled bank loan at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date. | |||||
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $59,144,952 or 52.0% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |||||
(4) | Security is not accruing interest. | |||||
(5) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |||||
(6) | Restricted security (Note 3). | |||||
(7) | Non-income producing security. | |||||
(8) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |||||
(9) | Rate shown represents yield-to-maturity. |
TCW High Yield Bond Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Corporate Bonds | 78.4 | % | ||
Bank Loans | 16.6 | |||
U.S. Treasury Securities | 4.5 | |||
Money Market Investments | 2.2 | |||
Warrants | 0.0 | ** | ||
Common Stock | 0.0 | ** | ||
Other* | (1.7 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes capstock, futures, pending trades, interest receivable and accrued expenses payable. |
** | Amounts rounds to less than 0.1%. |
TCW High Yield Bond Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Bank Loans* | $ | | $ | 18,871,124 | $ | | $ | 18,871,124 | ||||||||
Corporate Bonds* | | 89,034,837 | 198,593 | 89,233,430 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | | 107,905,961 | 198,593 | 108,104,554 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Common Stock* | 18,103 | | | 18,103 | ||||||||||||
Money Market Investments | 2,509,958 | | | 2,509,958 | ||||||||||||
Warrants* | 18,582 | | | 18,582 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Short-Term Investments | 5,089,538 | | | 5,089,538 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 7,636,181 | $ | 107,905,961 | $ | 198,593 | $ | 115,740,735 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | 93 | | | 93 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 7,636,274 | $ | 107,905,961 | $ | 198,593 | $ | 115,740,828 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | $ | (87,791 | ) | $ | | $ | | $ | (87,791 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (87,791 | ) | $ | | $ | | $ | (87,791 | ) | ||||||
|
|
|
|
|
|
|
|
* | See Schedule of Investments for corresponding industries. |
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES71.1% of Net Assets |
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESAGENCY6.0% |
| |||||||||||
Fannie Mae, Pool #AM4580 | 10/01/23 | $ | 40,152 | $ | 42,182 | |||||||
Fannie Mae (16-M11-AL) | 07/25/39 | 42,469 | 43,564 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (K722-X1) (I/O) | 03/25/23 | 858,545 | 12,595 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KJ28-A1) | 02/25/25 | 49,294 | 50,487 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KJ34-A1) | 06/25/26 | 28,000 | 28,010 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KL05-X1HG) (I/O) | 12/25/27 | 500,000 | 30,019 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KS05-X) (I/O) | 01/25/23 | 1,393,617 | 17,259 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KS06-X) (I/O) | 08/25/26 | 569,912 | 21,787 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (K024-X1) (I/O) | 09/25/22 | 344,108 | 2,669 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KJ24-A1) | 05/25/26 | 45,031 | 46,830 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KJ27-A1) | 07/25/24 | 34,182 | 35,144 | |||||||||
Freddie Mac Multifamily Structured Pass Through Certificates (KJ29-A1) | 01/25/26 | 70,061 | 70,338 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K025-X3) (I/O) | 11/25/40 | 150,000 | 3,092 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K031-X1) (I/O) | 04/25/23 | 833,703 | 2,697 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (KJ26-A1) | 07/25/25 | 56,805 | 58,545 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (KS07-X) (I/O) | 09/25/25 | 246,590 | 6,407 | |||||||||
FRESB Mortgage Trust (15-SB3-A3) | 01/25/43 | 2,494 | 2,495 | |||||||||
Ginnie Mae (07-12-C) | 04/16/41 | 4,407 | 4,437 | |||||||||
Ginnie Mae (08-92-E) | 03/16/44 | 6,950 | 7,037 | |||||||||
Ginnie Mae (10-159-D) | 09/16/44 | 23,137 | 23,861 | |||||||||
Ginnie Mae (11-165-IO) (I/O) | 10/16/51 | 290,999 | 141 | |||||||||
United States Small Business Administration (02-20I-1) | 09/01/22 | 4,033 | 4,095 | |||||||||
United States Small Business Administration (05-20B-1) | 02/01/25 | 35,012 | 36,581 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesAgency (Cost: $580,232) |
| 550,272 | ||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESNON-AGENCY 10.7% |
| |||||||||||
Banc of America Commercial Mortgage Trust (17-BNK3-A2) | 02/15/50 | 58,500 | 59,047 | |||||||||
BBCMS Mortgage Trust (17-C1-A2) | 02/15/50 | 16,895 | 17,099 | |||||||||
BBCMS Trust (15-SRCH-XB) (I/O) | 08/10/35 | 2,000,000 | 24,625 | |||||||||
BX Commercial Mortgage Trust (18-IND-A) | 11/15/35 | 2,931 | 2,938 | |||||||||
BX Commercial Mortgage Trust (18-IND-B) | 11/15/35 | 35,000 | 35,059 | |||||||||
BX Commercial Mortgage Trust (20-BXLP-A) | 12/15/36 | 14,216 | 14,251 | |||||||||
Citigroup Commercial Mortgage Trust (13-GC11-XA) (I/O) | 04/10/46 | 1,162,648 | 20,108 | |||||||||
Citigroup Commercial Mortgage Trust (14-GC23-XB) (I/O) | 07/10/47 | 3,784,000 | 24,310 | |||||||||
COMM Mortgage Trust (13-CR6-XA) (I/O) | 03/10/46 | 2,634,303 | 23,420 | |||||||||
COMM Mortgage Trust (14-CR19-XA) (I/O) | 08/10/47 | 83,476 | 1,998 | |||||||||
COMM Mortgage Trust (14-CR20-A3) | 11/10/47 | 16,600 | 17,606 | |||||||||
COMM Mortgage Trust (12-CR2-XA) (I/O) | 08/15/45 | 2,272,341 | 20,607 | |||||||||
COMM Mortgage Trust (12-CR3-XA) (I/O) | 10/15/45 | 2,105,789 | 23,265 | |||||||||
COMM Mortgage Trust (12-CR4-XA) (I/O) | 10/15/45 | 991,327 | 15,866 | |||||||||
COMM Mortgage Trust (13-CR9-ASB) | 07/10/45 | 22,868 | 23,559 | |||||||||
COMM Mortgage Trust (13-LC6-XA) (I/O) | 01/10/46 | 416,384 | 5,593 | |||||||||
COMM Mortgage Trust (14-CR14-A2) | 02/10/47 | 26,519 | 26,662 | |||||||||
COMM Mortgage Trust (16-DC2-XA) (I/O) | 02/10/49 | 804,599 | 28,763 | |||||||||
GS Mortgage Securities Corp. (12-ALOH-A) | 04/10/34 | 38,000 | 38,364 | |||||||||
GS Mortgage Securities Trust (12-GC6-A3) | 01/10/45 | 6,830 | 6,828 | |||||||||
GS Mortgage Securities Trust (12-GC6-AS) | 01/10/45 | 22,000 | 22,221 | |||||||||
GS Mortgage Securities Trust (13-GC14-A4) | 08/10/46 | 26,523 | 27,595 | |||||||||
GS Mortgage Securities Trust (13-GC16-XA) (I/O) | 11/10/46 | 1,522,231 | 30,140 | |||||||||
JPMBB Commercial Mortgage Securities Trust (14-C18-XA) (I/O) | 02/15/47 | 1,084,994 | 17,939 | |||||||||
JPMorgan Chase Commercial Mortgage Securities (12-C6-XA) (I/O) | 05/15/45 | 3,114,173 | 20,312 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (12-C8-XA) (I/O) | 10/15/45 | 1,203,949 | 15,762 |
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (18-LAQ-A) | 06/15/32 | $ | 30,016 | $ | 30,076 | |||||||
Morgan Stanley Bank of America Merrill Lynch Trust (12-C5-XA) (I/O) | 08/15/45 | 2,268,874 | 17,393 | |||||||||
Morgan Stanley Bank of America Merrill Lynch Trust (13-C12-XA) (I/O) | 10/15/46 | 342,763 | 3,450 | |||||||||
Morgan Stanley Bank of America Merrill Lynch Trust (13-C7-XA) (I/O) | 02/15/46 | 2,227,065 | 32,714 | |||||||||
Morgan Stanley Bank of America Merrill Lynch Trust (14-C15-A3) | 04/15/47 | 11,257 | 11,846 | |||||||||
Morgan Stanley Capital I Trust (11-C3-XA) (I/O) | 07/15/49 | 204,982 | 2 | |||||||||
Morgan Stanley Capital I Trust (12-C4-A4) | 03/15/45 | 24,194 | 24,411 | |||||||||
UBS Commercial Mortgage Trust (12-C1-XA) (I/O) | 05/10/45 | 236,760 | 1,541 | |||||||||
UBS Commercial Mortgage Trust (18-C11-A1) | 06/15/51 | 647 | 649 | |||||||||
UBS-Barclays Commercial Mortgage Trust (12-C3-XA) (I/O) | 08/10/49 | 1,200,669 | 17,126 | |||||||||
UBS-Barclays Commercial Mortgage Trust (12-C4-XA) (I/O) | 12/10/45 | 1,601,579 | 21,170 | |||||||||
UBS-Barclays Commercial Mortgage Trust (13-C5-XA) (I/O) | 03/10/46 | 1,912,269 | 18,775 | |||||||||
Wells Fargo Commercial Mortgage Trust (15-LC20-A2) | 04/15/50 | 17,463 | 17,555 | |||||||||
Wells Fargo Commercial Mortgage Trust (15-NXS2-XA) (I/O) | 07/15/58 | 1,546,205 | 33,018 | |||||||||
Wells Fargo Commercial Mortgage Trust (16-C34-A2) | 06/15/49 | 56,563 | 56,559 | |||||||||
Wells Fargo Commercial Mortgage Trust (16-C36-A2) | 11/15/59 | 12,620 | 12,755 | |||||||||
Wells Fargo Commercial Mortgage Trust (16-LC24-A2) | 10/15/49 | 1,612 | 1,647 | |||||||||
WFRBS Commercial Mortgage Trust (12-C6-XA) (I/O) | 04/15/45 | 535,169 | 2,192 | |||||||||
WFRBS Commercial Mortgage Trust (12-C7-A2) 3.43% | 06/15/45 | 17,000 | 17,225 | |||||||||
WFRBS Commercial Mortgage Trust (12-C7-XA) (I/O) | 06/15/45 | 588,723 | 2,609 | |||||||||
WFRBS Commercial Mortgage Trust (12-C8-XA) (I/O) | 08/15/45 | 610,477 | 5,478 | |||||||||
WFRBS Commercial Mortgage Trust (12-C9-XA) (I/O) | 11/15/45 | 2,088,798 | 32,235 | |||||||||
WFRBS Commercial Mortgage Trust (12-C9-XB) (I/O) | 11/15/45 | 3,224,000 | 25,462 | |||||||||
WFRBS Commercial Mortgage Trust (14-C21-XA) (I/O) | 08/15/47 | 795,512 | 19,764 | |||||||||
WFRBS Commercial Mortgage Trust (14-C22-A3) | 09/15/57 | 10,963 | 10,977 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesNon-Agency (Cost: $1,126,907) |
| 980,566 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESAGENCY17.5% |
| |||||||||||
Fannie Mae (03-11-FA) | 09/25/32 | 9,534 | 9,670 | |||||||||
Fannie Mae (03-52-NF) | 06/25/23 | 1,675 | 1,676 | |||||||||
Fannie Mae (06-23-FP) (PAC) | 04/25/36 | 12,947 | 13,013 | |||||||||
Fannie Mae (07-64-FA) | 07/25/37 | 21,477 | 21,748 | |||||||||
Fannie Mae (08-24-PF) (PAC) | 02/25/38 | 12,824 | 12,905 | |||||||||
Fannie Mae (10-118-GF) (PAC) | 10/25/39 | 23,214 | 23,315 | |||||||||
Fannie Mae (11-75-HP) (PAC) | 07/25/40 | 7,894 | 8,035 | |||||||||
Fannie Mae (12-93-GF) (PAC) | 07/25/40 | 17,200 | 17,213 | |||||||||
Fannie Mae (20-10-FA) | 03/25/50 | 29,472 | 29,625 | |||||||||
Fannie Mae (17-10-FA) | 03/25/47 | 57,829 | 58,325 | |||||||||
Fannie Mae, Pool #254548 | 12/01/32 | 7,533 | 8,709 | |||||||||
Fannie Mae, Pool #600187 | 07/01/31 | 14,016 | 15,746 | |||||||||
Fannie Mae, Pool #995364 | 10/01/38 | 8,428 | 9,813 | |||||||||
Fannie Mae, Pool #AL0851 | 10/01/40 | 4,634 | 5,511 | |||||||||
Freddie Mac (3071-TF) (PAC) | 04/15/35 | 19,110 | 19,162 | |||||||||
Freddie Mac (3084-FN) | 12/15/34 | 5,252 | 5,256 | |||||||||
Freddie Mac (3300-FA) | 08/15/35 | 23,713 | 23,844 | |||||||||
Freddie Mac (3318-F) | 05/15/37 | 30,179 | 30,306 | |||||||||
Freddie Mac (3879-MF) | 09/15/38 | 5,061 | 5,067 | |||||||||
Freddie Mac (3940-PF) (PAC) | 05/15/40 | 8,999 | 9,008 | |||||||||
Freddie Mac (3946-FG) (PAC) | 10/15/39 | 6,359 | 6,370 | |||||||||
Freddie Mac (4231-FD) | 10/15/32 | 35,458 | 35,049 | |||||||||
Freddie Mac (263-F5) | 06/15/42 | 22,110 | 22,267 |
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Ginnie Mae II, Pool #80022 | 12/20/26 | $ | 8,207 | $ | 8,413 | |||||||
Ginnie Mae II, Pool #80636 | 09/20/32 | 5,326 | 5,500 | |||||||||
Ginnie Mae II, Pool #80757 | 10/20/33 | 3,346 | 3,422 | |||||||||
Ginnie Mae II, Pool #80797 | 01/20/34 | 18,837 | 19,163 | |||||||||
Ginnie Mae II, Pool #80937 | 06/20/34 | 10,125 | 10,554 | |||||||||
Ginnie Mae II TBA, 30 Year | ||||||||||||
2.00%(5) | 10/31/50 | 25,000 | 25,563 | |||||||||
2.50%(5) | 12/01/50 | 400,000 | 415,089 | |||||||||
Uniform Mortgage-Backed Securities TBA, 30 Year | ||||||||||||
2.00%(5) | 01/31/51 | 375,000 | 381,694 | |||||||||
2.50%(5) | 01/31/51 | 325,000 | 337,814 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesAgency (Cost: $1,586,689) |
| 1,598,845 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESNON-AGENCY6.7% |
| |||||||||||
ABFC Trust (02-WF2-A2) | 05/25/32 | 33,579 | 33,303 | |||||||||
Accredited Mortgage Loan Trust (05-1-M2) | 04/25/35 | 92,883 | 93,938 | |||||||||
BNC Mortgage Loan Trust (06-2-A4) | 11/25/36 | 45,750 | 45,103 | |||||||||
Centex Home Equity Loan Trust (04-D-AF6) | 09/25/34 | 5 | 5 | |||||||||
Citigroup Mortgage Loan Trust, Inc. (06-WFH4-M1) | 11/25/36 | 29,783 | 29,791 | |||||||||
Credit Suisse First Boston Mortgage Securities Corp. (02-AR31-6A1) | 11/25/32 | 13,485 | 13,500 | |||||||||
CWABS Asset-Backed Certificates Trust (05-3-MV5) | 08/25/35 | 13,917 | 13,937 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (04-FF5-A3C) | 08/25/34 | 11,766 | 11,930 | |||||||||
JPMorgan Mortgage Acquisition Trust (07-CH4-A5) | 05/25/37 | 48,000 | 47,286 | |||||||||
Morgan Stanley ABS Capital I, Inc. Trust (05-WMC3-M4) | 03/25/35 | 12,491 | 12,509 | |||||||||
Morgan Stanley Capital I, Inc. Trust (06-NC2-A2D) | 02/25/36 | 47,612 | 47,439 | |||||||||
Morgan Stanley Mortgage Loan Trust (04-6AR-1A) | 07/25/34 | 59 | 59 | |||||||||
NovaStar Mortgage Funding Trust Series (05-1-M5) | 06/25/35 | 46,081 | 45,193 | |||||||||
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates (04-WHQ2-M4) | 02/25/35 | 48,871 | 49,324 | |||||||||
RASC Series Trust (06-KS3-M1) | 04/25/36 | 61,295 | 61,286 | |||||||||
Residential Accredit Loans, Inc. (02-QS16-A2) | 10/25/17 | 72 | 54 | |||||||||
Soundview Home Loan Trust (05-OPT1-M2) | 06/25/35 | 36,693 | 36,635 | |||||||||
Structured Asset Investment Loan Trust (05-11-A3) | 01/25/36 | 24,238 | 24,282 | |||||||||
Structured Asset Investment Loan Trust (05-HE3-M1) | 09/25/35 | 45,159 | 45,082 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesNon-Agency (Cost: $565,806) |
| 610,656 | ||||||||||
|
| |||||||||||
CORPORATE BONDS16.6% |
| |||||||||||
Aerospace/Defense0.2% |
| |||||||||||
Boeing Co. (The) | 02/04/24 | 15,000 | 15,035 | |||||||||
|
| |||||||||||
Agriculture0.1% |
| |||||||||||
Imperial Brands Finance PLC | 07/26/24 | 10,000 | 10,549 | |||||||||
|
| |||||||||||
Auto Manufacturers0.4% |
| |||||||||||
Daimler Finance North America LLC | 10/30/21 | 25,000 | 25,116 | |||||||||
Ford Motor Credit Co. LLC | ||||||||||||
1.20% (3 mo. USD LIBOR + 1.080%)(2) | 08/03/22 | 5,000 | 4,987 | |||||||||
3.22% | 01/09/22 | 5,000 | 5,047 | |||||||||
General Motors Financial Co., Inc. | 11/06/21 | 5,000 | 5,051 | |||||||||
|
| |||||||||||
40,201 | ||||||||||||
|
| |||||||||||
Banks5.2% |
| |||||||||||
Citigroup, Inc. |
| |||||||||||
2.90% | 12/08/21 | 25,000 | 25,179 | |||||||||
3.35% (3 mo. USD LIBOR + 0.897%)(2) | 04/24/25 | 30,000 | 32,049 | |||||||||
Credit Suisse Group AG |
| |||||||||||
2.59% (SOFR + 1.560%)(2),(3) | 09/11/25 | 10,000 | 10,424 | |||||||||
3.80% | 06/09/23 | 20,000 | 21,158 | |||||||||
Goldman Sachs Group, Inc. (The) | 01/27/23 | 25,000 | 25,012 | |||||||||
HSBC Holdings PLC | 05/24/25 | 35,000 | 35,101 | |||||||||
JPMorgan Chase & Co. |
| |||||||||||
0.97% (SOFR + 0.580%)(2) | 06/23/25 | 55,000 | 55,249 | |||||||||
4.02% (3 mo. USD LIBOR +1.000%)(2) | 12/05/24 | 55,000 | 59,316 |
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Lloyds Banking Group PLC (United Kingdom) |
| |||||||||||
2.86% (3 mo. USD LIBOR + 1.249%)(2) | 03/17/23 | $ | 10,000 | $ | 10,154 | |||||||
2.91% (3 mo. USD LIBOR +0.810%)(2) | 11/07/23 | 15,000 | 15,441 | |||||||||
3.87% (1-year Treasury Constant Maturity Rate + 3.500%)(2) | 07/09/25 | 55,000 | 59,635 | |||||||||
Morgan Stanley | 01/25/24 | 35,000 | 35,011 | |||||||||
NatWest Group PLC | 05/15/23 | 30,000 | 30,709 | |||||||||
Santander UK Group Holdings PLC (United Kingdom) | 01/10/23 | 10,000 | 10,139 | |||||||||
Wells Fargo & Co. | 01/24/24 | 15,000 | 16,129 | |||||||||
Wells Fargo Bank N.A. | 09/09/22 | 40,000 | 40,075 | |||||||||
|
| |||||||||||
480,781 | ||||||||||||
|
| |||||||||||
Biotechnology0.5% | ||||||||||||
Gilead Sciences, Inc. | 09/29/23 | 25,000 | 25,015 | |||||||||
Royalty Pharma PLC | 09/02/23 | 20,000 | 20,088 | |||||||||
|
| |||||||||||
45,103 | ||||||||||||
|
| |||||||||||
Chemicals0.1% | ||||||||||||
International Flavors & Fragrances, Inc. | 09/15/22 | 10,000 | 10,018 | |||||||||
|
| |||||||||||
Commercial Services0.3% | ||||||||||||
IHS Markit, Ltd. | 11/01/22 | 25,000 | 26,098 | |||||||||
|
| |||||||||||
Diversified Financial Services1.0% | ||||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland) | ||||||||||||
3.95% | 02/01/22 | 10,000 | 10,142 | |||||||||
4.88% | 01/16/24 | 10,000 | 10,882 | |||||||||
Air Lease Corp. | 01/15/22 | 30,000 | 30,437 | |||||||||
Avolon Holdings Funding, Ltd. | 05/01/22 | 10,000 | 10,196 | |||||||||
Intercontinental Exchange, Inc. | 06/15/23 | 30,000 | 30,012 | |||||||||
Park Aerospace Holdings, Ltd. | 03/15/23 | 5,000 | 5,259 | |||||||||
|
| |||||||||||
96,928 | ||||||||||||
|
| |||||||||||
Electric0.3% | ||||||||||||
Dominion Energy, Inc. | 03/15/25 | 25,000 | 27,162 | |||||||||
|
| |||||||||||
Food0.1% | ||||||||||||
Smithfield Foods, Inc. | 02/01/22 | 10,000 | 10,140 | |||||||||
|
| |||||||||||
Health Care-Products0.2% | ||||||||||||
Fresenius US Finance II, Inc. | 01/15/23 | 15,000 | 15,704 | |||||||||
|
| |||||||||||
Health Care-Services1.4% | ||||||||||||
CommonSpirit Health | 10/01/24 | 10,000 | 10,539 | |||||||||
Dignity Health | 11/01/22 | 10,000 | 10,325 | |||||||||
Fresenius Medical Care US Finance II, Inc. | 01/31/22 | 15,000 | 15,391 | |||||||||
HCA, Inc. | 05/01/23 | 40,000 | 42,817 | |||||||||
Humana, Inc. | ||||||||||||
0.65% | 08/03/23 | 30,000 | 30,001 | |||||||||
3.85% | 10/01/24 | 15,000 | 16,313 | |||||||||
|
| |||||||||||
125,386 | ||||||||||||
|
| |||||||||||
Insurance0.2% | ||||||||||||
Athene Global Funding | 05/24/24 | 20,000 | 20,116 | |||||||||
|
| |||||||||||
Miscellaneous Manufacturers1.4% | ||||||||||||
General Electric Co. | ||||||||||||
0.56% (3 mo. USD LIBOR + 0.380%)(2) | 05/05/26 | 5,000 | 4,934 | |||||||||
1.13% (3 mo. USD LIBOR + 1.000%)(2) | 04/15/23 | 75,000 | 75,794 | |||||||||
3.63% | 05/01/30 | 40,000 | 45,125 | |||||||||
|
| |||||||||||
125,853 | ||||||||||||
|
| |||||||||||
Oil & Gas0.1% | ||||||||||||
Petroleos Mexicanos | 02/12/28 | 15,000 | 14,903 | |||||||||
|
| |||||||||||
Packaging & Containers0.2% | ||||||||||||
Berry Global, Inc. | 02/15/24 | 15,000 | 15,051 | |||||||||
|
| |||||||||||
Pharmaceuticals0.8% | ||||||||||||
Bayer US Finance LLC | 07/15/22 | 45,000 | 45,421 | |||||||||
Upjohn, Inc. | 06/22/22 | 25,000 | 25,155 | |||||||||
|
| |||||||||||
70,576 | ||||||||||||
|
| |||||||||||
REIT2.0% | ||||||||||||
American Campus Communities Operating Partnership LP | 04/15/23 | 30,000 | 31,399 | |||||||||
Camden Property Trust | 12/15/22 | 25,000 | 25,733 | |||||||||
CyrusOne LP / CyrusOne Finance Corp. | 11/15/24 | 20,000 | 21,133 | |||||||||
GLP Capital LP / GLP Financing II, Inc. | 11/01/23 | 25,000 | 27,266 | |||||||||
Kilroy Realty LP | 12/15/24 | 5,000 | 5,346 | |||||||||
Kimco Realty Corp. | 11/01/22 | 20,000 | 20,661 | |||||||||
SL Green Operating Partnership LP | 08/16/21 | 40,000 | 40,007 | |||||||||
WEA Finance LLC | 04/05/22 | 10,000 | 10,150 | |||||||||
|
| |||||||||||
181,695 | ||||||||||||
|
|
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Retail0.2% | ||||||||||||
7-Eleven, Inc. 0.61% | 08/10/22 | $ | 15,000 | $ | 15,004 | |||||||
|
| |||||||||||
Savings & Loans0.3% | ||||||||||||
Nationwide Building Society (United Kingdom) | 04/26/23 | 25,000 | 25,582 | |||||||||
|
| |||||||||||
Semiconductors0.6% | ||||||||||||
NXP BV / NXP Funding LLC | 06/01/23 | 30,000 | 32,155 | |||||||||
Skyworks Solutions, Inc. | 06/01/23 | 25,000 | 25,103 | |||||||||
|
| |||||||||||
57,258 | ||||||||||||
|
| |||||||||||
Software0.3% | ||||||||||||
VMware, Inc. 1.00% | 08/15/24 | 25,000 | 25,084 | |||||||||
|
| |||||||||||
Telecommunications0.7% | ||||||||||||
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC | 03/20/23 | 35,938 | 36,108 | |||||||||
T-Mobile USA, Inc. | 04/15/30 | 25,000 | 28,313 | |||||||||
|
| |||||||||||
64,421 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds (Cost: $1,495,141) |
| 1,518,648 | ||||||||||
|
| |||||||||||
MUNICIPAL BONDS0.8% | ||||||||||||
City and County of Denver Co. Airport System Revenue, Revenue Bond | 11/15/24 | 10,000 | 10,142 | |||||||||
County of Miami-Dade FL Aviation Revenue, Revenue Bond | 10/01/22 | 15,000 | 15,331 | |||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bond | 11/01/26 | 25,000 | 26,597 | |||||||||
New York State Dormitory Authority, Revenue Bond | 03/15/24 | 15,000 | 16,697 | |||||||||
|
| |||||||||||
Total Municipal Bonds (Cost: $67,246) |
| 68,767 | ||||||||||
|
| |||||||||||
U.S. TREASURY SECURITIES11.4% | ||||||||||||
U.S. Treasury Floating Rate Note | 10/31/22 | 170,000 | 170,103 | |||||||||
U.S. Treasury Note | ||||||||||||
0.13% | 06/30/23 | 230,000 | 229,811 | |||||||||
0.63% | 07/31/26 | 104,000 | 103,639 | |||||||||
0.88% | 06/30/26 | 32,000 | 32,296 | |||||||||
1.75% | 11/30/21 | 500,000 | 502,783 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $1,039,098) |
| 1,038,632 | ||||||||||
|
| |||||||||||
ASSET-BACKED SECURITIES1.4% | ||||||||||||
BSPRT Issuer, Ltd. (18-FL4-A) | 09/15/35 | 9,444 | 9,447 | |||||||||
CoreVest American Finance Trust (19-1-XA) (I/O) | 03/15/52 | 438,234 | 27,892 | |||||||||
Marathon CRE, Ltd. (18-FL1-A) | 06/15/28 | 34,011 | 34,023 | |||||||||
MF1, Ltd. (20-FL4-A) | 11/15/35 | 18,000 | 18,253 | |||||||||
Tricon American Homes Trust (17-SFR2-A) | 01/17/36 | 39,334 | 40,125 | |||||||||
|
| |||||||||||
Total Asset-backed Securities (Cost: $138,543) |
| 129,740 | ||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $6,599,662) |
| 6,496,126 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
MONEY MARKET INVESTMENTS2.4% |
| |||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, | 220,418 | 220,418 | ||||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $220,418) |
| 220,418 | ||||||||||
|
| |||||||||||
Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS34.1% |
| |||||||||||
DISCOUNT NOTES4.4% |
| |||||||||||
Federal Home Loan Bank Discount Note | 08/12/21 | $ | 400,000 | 399,998 | ||||||||
U.S. Treasury Securities29.7% | ||||||||||||
U.S. Treasury Bill | ||||||||||||
0.00%(9) | 08/12/21 | 970,000 | 969,992 | |||||||||
0.01%(9) | 08/19/21 | 250,000 | 249,996 | |||||||||
0.01%(9) | 08/05/21 | 600,000 | 599,999 | |||||||||
0.03%(9) | 10/07/21 | 150,000 | 149,986 | |||||||||
0.04%(9) | 01/27/22 | 750,000 | 749,814 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $2,719,781) |
| 2,719,787 | ||||||||||
|
| |||||||||||
Total Short Term Investments (Cost: $3,119,765) |
| 3,119,785 | ||||||||||
|
| |||||||||||
Total Investments (107.6%) (Cost: $9,939,845) |
| 9,836,329 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-7.6%) |
| (694,894 | ) | |||||||||
Net Assets (100.0%) |
| $ | 9,141,435 | |||||||||
|
|
TCW Short Term Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FUTURES CONTRACTS |
| |||||||||||||||||
| ||||||||||||||||||
Number of | Type | Expiration Date | Notional Contract Value | Value | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Short Futures | ||||||||||||||||||
4 | 10-Year U.S. Ultra Treasury Note Futures | 09/21/21 | $ | (582,820 | ) | $ | (601,000 | ) | $ | (18,180 | ) | |||||||
3 | 2-Year U.S. Treasury Note Futures | 09/30/21 | (662,151 | ) | (661,969 | ) | 182 | |||||||||||
2 | 5-Year U.S. Treasury Note Futures | 09/30/21 | (247,745 | ) | (248,890 | ) | (1,145 | ) | ||||||||||
|
|
|
|
|
| |||||||||||||
$ | (1,492,716 | ) | $ | (1,511,859 | ) | $ | (19,143 | ) | ||||||||||
|
|
|
|
|
|
Notes to the Schedule of Investments: | ||
ABS | Asset-Backed Securities. | |
I/O | Interest Only Security. | |
PAC | Planned Amortization Class. | |
REIT | Real Estate Investment Trust. | |
SOFR | Secured Overnight Financing Rate. | |
TBA | To Be Announced. | |
(1) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |
(2) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $824,982 or 9.0% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |
(4) | Restricted security (Note 3). | |
(5) | Security purchased on a forward commitment with an approximate principal amount. The actual principal amount and maturity date will be determined upon settlement when the security is delivered. | |
(6) | The maturity date of the security has been extended past the date disclosed. The new maturity date is not known as of July 31, 2021. | |
(7) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |
(8) | Security is not accruing interest. | |
(9) | Rate shown represents yield-to-maturity. |
TCW Short Term Bond Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
U.S. Treasury Securities | 41.1 | % | ||
Residential Mortgage-Backed SecuritiesAgency | 17.5 | |||
Corporate Bonds | 16.6 | |||
Commercial Mortgage-Backed SecuritiesNon-Agency | 10.7 | |||
Residential Mortgage-Backed SecuritiesNon-Agency | 6.7 | |||
Commercial Mortgage-Backed SecuritiesAgency | 6.0 | |||
Discount Notes | 4.4 | |||
Money Market Investments | 2.4 | |||
Asset-Backed Securities | 1.4 | |||
Municipal Bonds | 0.8 | |||
Other* | (7.6 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes futures, pending trades, interest receivable and accrued expenses payable. |
TCW Short Term Bond Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Commercial Mortgage-Backed SecuritiesAgency | $ | | $ | 550,272 | $ | | $ | 550,272 | ||||||||
Commercial Mortgage-Backed SecuritiesNon-Agency | | 980,566 | | 980,566 | ||||||||||||
Residential Mortgage-Backed SecuritiesAgency | | 1,598,845 | | 1,598,845 | ||||||||||||
Residential Mortgage-Backed SecuritiesNon-Agency | | 610,656 | | 610,656 | ||||||||||||
Corporate Bonds* | | 1,518,648 | | 1,518,648 | ||||||||||||
Municipal Bonds | | 68,767 | | 68,767 | ||||||||||||
U.S. Treasury Securities | 1,038,632 | | | 1,038,632 | ||||||||||||
Asset-Backed Securities | | 129,740 | | 129,740 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | 1,038,632 | 5,457,494 | | 6,496,126 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 220,418 | | | 220,418 | ||||||||||||
Short-Term Investments | 2,719,787 | 399,998 | | 3,119,785 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 3,978,837 | $ | 5,857,492 | $ | | $ | 9,836,329 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | 182 | | | 182 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 3,979,019 | $ | 5,857,492 | $ | | $ | 9,836,511 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | $ | (19,325 | ) | $ | | $ | | $ | (19,325 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | (19,325 | ) | $ | | $ | | $ | (19,325 | ) | ||||||
|
|
|
|
|
|
|
|
* | See Schedule of Investments for corresponding industries. |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
FIXED INCOME SECURITIES122.1% of Net Assets | ||||||||||||
ASSET-BACKED SECURITIES7.5% | ||||||||||||
321 Henderson Receivables I LLC (13-3A-A) | 01/17/73 | $ | 6,162,676 | $ | 7,032,600 | |||||||
Allegro CLO XII, Ltd. (20-1A-A1) | 01/21/32 | 17,125,000 | 17,149,831 | |||||||||
Arbor Realty Commercial Real Estate Note, Ltd. (19-FL1-A) | 05/15/37 | 11,900,000 | 11,913,911 | |||||||||
Barings CLO, Ltd. (18-3A-A1) | 07/20/29 | 9,500,000 | 9,500,038 | |||||||||
Barings CLO, Ltd. (20-4A-A) | 01/20/32 | 18,500,000 | 18,523,125 | |||||||||
BDS, Ltd. (20-FL5-A) | 02/16/37 | 17,500,000 | 17,538,097 | |||||||||
Blackrock DLF VIII-L CLO Trust (21-1A-A) | 04/17/32 | 26,525,000 | 26,535,902 | |||||||||
BSPRT Issuer, Ltd. (18-FL4-A) | 09/15/35 | 3,079,610 | 3,080,622 | |||||||||
CoreVest American Finance Trust (20-1-A2) | 03/15/50 | 22,735,000 | 23,676,211 | |||||||||
CoreVest American Finance Trust (20-1-XA) (I/O) | 03/15/50 | 55,883,664 | 6,375,147 | |||||||||
CoreVest American Finance Trust (20-1-XB) (I/O) | 03/15/50 | 38,948,500 | 5,057,677 | |||||||||
CoreVest American Finance Trust (20-4-XA) (I/O) | 12/15/52 | 58,096,906 | 8,182,569 | |||||||||
CoreVest American Finance Trust (20-4-XB) (I/O) | 12/15/52 | 27,500,000 | 3,938,439 | |||||||||
CoreVest American Finance Trust (21-1-XA) (I/O) | 04/15/53 | 79,531,665 | 9,999,624 | |||||||||
Dryden CLO, Ltd. (20-83A-A) | 01/18/32 | 18,000,000 | 18,022,680 | |||||||||
EFS Volunteer No 2 LLC (12-1-A2) | 03/25/36 | 5,167,739 | 5,242,756 | |||||||||
EFS Volunteer No 3 LLC (12-1-A3) | 04/25/33 | 11,172,247 | 11,267,550 | |||||||||
GCI Funding I LLC (21-1-A) | 06/18/46 | 27,826,167 | 28,187,617 | |||||||||
Global SC Finance SRL (14-1A-A2) | 07/17/29 | 4,909,500 | 4,956,912 | |||||||||
GoldenTree Loan Management US CLO, Ltd. (19-4A-AR) | 04/24/31 | 23,800,000 | 23,815,327 | |||||||||
Higher Education Funding I (14-1-A) | 05/25/34 | 11,315 | 11,367 | |||||||||
HPS Loan Management, Ltd. (0A-16-A2RR) | 04/20/34 | 20,000,000 | 20,020,240 | |||||||||
LCM XXIV, Ltd. (24A-AR) | 03/20/30 | 10,000,000 | 9,995,000 | |||||||||
LoanCore Issuer, Ltd. (18-CRE1-A) | 05/15/28 | 5,389,795 | 5,391,077 | |||||||||
Lucali CLO, Ltd. (20-1A-A) | 01/15/33 | 18,000,000 | 18,029,520 | |||||||||
Madison Park Funding XLVIII, Ltd. (21-48A-A) | 04/19/33 | 18,000,000 | 18,026,100 | |||||||||
Madison Park Funding XXXVIII, Ltd. (21-38A-B) | 07/17/34 | 10,000,000 | 10,010,670 | |||||||||
Marathon CRE, Ltd. (18-FL1-A) | 06/15/28 | 7,062,924 | 7,065,449 | |||||||||
Navient Student Loan Trust (14-3-A) | 03/25/83 | 20,815,431 | 20,774,464 | |||||||||
Navient Student Loan Trust (14-4-A) | 03/25/83 | 11,525,499 | 11,499,634 | |||||||||
Navient Student Loan Trust (16-5A-A) | 06/25/65 | 14,557,939 | 14,997,812 | |||||||||
Neuberger Berman Loan Advisers CLO, Ltd. (20-36A-A1R) | 04/20/33 | 18,750,000 | 18,779,531 | |||||||||
OHA Credit Funding 3, Ltd. (19-3A-BR) | 07/02/35 | 13,000,000 | 13,005,070 | |||||||||
OHA Credit Funding, Ltd. (21-9A-B) | 07/19/35 | 17,500,000 | 17,526,250 | |||||||||
Palmer Square CLO, Ltd. (14-1A-A1R2) | 01/17/31 | 10,000,000 | 10,012,000 | |||||||||
Palmer Square Loan Funding Ltd. (20-2A-A2) | 04/20/28 | 7,750,000 | 7,758,261 | |||||||||
Park Avenue Institutional Advisers CLO, Ltd. (21-1A-A1A) | 01/20/34 | 19,000,000 | 19,062,871 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Rockford Tower CLO, Ltd. (18-1A-A) | 05/20/31 | $ | 4,750,000 | $ | 4,750,237 | |||||||
Sixth Street CLO XVII, Ltd. (21-17A-A) | 01/20/34 | 18,000,000 | 18,050,688 | |||||||||
SLM Student Loan Trust (08-5-A4) | 07/25/23 | 1,836,518 | 1,853,063 | |||||||||
SLM Student Loan Trust (08-8-B) | 10/25/75 | 5,706,000 | 5,769,269 | |||||||||
|
| |||||||||||
Total Asset-backed Securities (Cost: $512,728,202) | 512,385,208 | |||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESAGENCY0.4% |
| |||||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K038-X3) (I/O) | 06/25/42 | 78,039,937 | 4,902,235 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K040-X3) (I/O) | 11/25/42 | 77,991,835 | 4,808,337 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K042-X3) (I/O) | 01/25/43 | 76,625,000 | 3,906,549 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K045-X3) (I/O) | 04/25/43 | 126,630,757 | 6,518,059 | |||||||||
Freddie Mac Multifamily Structured Pass-Through Certificates (K046-X3) (I/O) | 04/25/43 | 94,964,072 | 4,796,217 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesAgency (Cost: $35,285,762) | 24,931,397 | |||||||||||
|
| |||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIESNON-AGENCY9.9% |
| |||||||||||
1345 Avenue of the Americas & Park Avenue Plaza Trust (05-1-A3) | 08/10/35 | 14,242,646 | 15,105,391 | |||||||||
BAMLL Commercial Mortgage Securities Trust (20-BOC-A) | 01/15/32 | 14,275,000 | 15,036,520 | |||||||||
BANK (18-BN13-A5) | 08/15/61 | 7,000,000 | 8,167,876 | |||||||||
BANK (19-BN20-A2) | 09/15/62 | 14,450,000 | 15,410,768 | |||||||||
BANK (19-BN21-A4) | 10/17/52 | 11,610,000 | 12,290,340 | |||||||||
BANK (19-BN21-A5) | 10/17/52 | 13,365,000 | 14,496,271 | |||||||||
BBCMS Mortgage Trust (20-C6-A4) | 02/15/53 | 25,990,000 | 27,735,405 | |||||||||
BBCMS Trust (13-TYSN-E) | 09/05/32 | 14,580,000 | 14,059,178 | |||||||||
Benchmark Mortgage Trust (18-B8-A5) | 01/15/52 | 13,510,000 | 15,867,800 | |||||||||
Benchmark Mortgage Trust (19-B14-225C) | 12/15/62 | 13,234,000 | 12,952,861 | |||||||||
Benchmark Mortgage Trust (19-B14-225D) | 12/15/62 | 20,303,000 | 19,405,563 | |||||||||
BFLD Trust (20-OBRK-A) | 11/15/28 | 17,940,000 | 18,159,354 | |||||||||
BPR Trust (21-WILL-A) | 06/15/38 | 17,187,160 | 17,303,232 | |||||||||
BX Commercial Mortgage Trust (20-VIV4-A) | 03/09/44 | 15,285,000 | 16,274,211 | |||||||||
BX Trust (19-OC11-A) | 12/09/41 | 8,270,000 | 9,077,335 | |||||||||
CAMB Commercial Mortgage Trust (19-LIFE-D) | 12/15/37 | 14,425,000 | 14,471,680 | |||||||||
CPT Mortgage Trust (19-CPT-A) 2.87%(1) | 11/13/39 | 12,500,000 | 13,498,296 | |||||||||
Credit Suisse Mortgage Trust | 08/15/23 | 19,780,000 | 19,780,024 | |||||||||
CSAIL Commercial Mortgage Trust (18-CX11-A3) | 04/15/51 | 8,470,000 | 9,281,708 | |||||||||
CSAIL Commercial Mortgage Trust (20-C19-ASB) | 03/15/53 | 31,288,000 | 33,359,755 | |||||||||
DBGS BIOD Mortgage Trust (18-C1-A4) | 10/15/51 | 8,000,000 | 9,486,504 | |||||||||
DBGS Mortgage Trust (18-BIOD-E) | 05/15/35 | 9,281,389 | 9,316,221 | |||||||||
DBWF Mortgage Trust (16-85T-A) | 12/10/36 | 6,385,000 | 7,169,798 | |||||||||
DC Office Trust (19-MTC-A) | 09/15/45 | 5,750,000 | 6,237,488 | |||||||||
Grace Trust (20-GRCE-A) | 12/10/40 | 30,000,000 | 31,144,297 | |||||||||
Great Wolf Trust (19-WOLF-A) | 12/15/36 | 25,630,000 | 25,677,087 | |||||||||
GS Mortgage Securities Corp. Trust (12-ALOH-A) | 04/10/34 | 13,366,000 | 13,494,112 | |||||||||
GS Mortgage Securities Corp. Trust (12-ALOH-D) | 04/10/34 | 10,605,000 | 10,648,576 | |||||||||
GS Mortgage Securities Trust (20-GC47-A5) | 05/12/53 | 13,305,000 | 13,917,645 | |||||||||
Houston Galleria Mall Trust (15-HGLR-D) | 03/05/37 | 17,500,000 | 17,537,872 | |||||||||
Hudson Yards Mortgage Trust (19-55HY-A) | 12/10/41 | 5,750,000 | 6,278,898 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (18-LAQ-A) | 06/15/32 | 7,901,607 | 7,917,358 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (18-PHH-A) | 06/15/35 | 11,619,337 | 11,603,154 | |||||||||
JPMorgan Chase Commercial Mortgage Securities Trust (19-OSB-A) | 06/05/39 | 13,765,000 | 15,383,732 | |||||||||
Life Mortgage Trust (21-BMR-G) | 03/15/38 | 21,493,000 | 21,640,992 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
MF1, Ltd. (20-FL3-C) | 07/15/35 | $ | 22,100,000 | $ | 22,780,039 | |||||||
MFT Trust (20-ABC-D) | 02/10/42 | 3,245,000 | 3,195,966 | |||||||||
Morgan Stanley Capital I Trust (18-MP-A) | 07/11/40 | 18,650,000 | 21,324,000 | |||||||||
Morgan Stanley Capital I Trust (19-L2-A3) | 03/15/52 | 6,865,000 | 7,709,712 | |||||||||
Morgan Stanley Capital I Trust (19-L2-A4) | 03/15/52 | 8,675,000 | 10,086,290 | |||||||||
Morgan Stanley Capital I Trust (20-CNP-A) | 04/05/42 | 18,000,000 | 18,742,617 | |||||||||
One Bryant Park Trust (19-OBP-A) | 09/15/54 | 16,825,000 | 17,750,024 | |||||||||
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2A) | 01/05/43 | 20,935,000 | 23,585,911 | |||||||||
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2B) | 01/05/43 | 340,000 | 379,713 | |||||||||
SLG Office Trust (21-OVA-G) | 07/15/41 | 16,460,000 | 15,392,366 | |||||||||
|
| |||||||||||
Total Commercial Mortgage-Backed SecuritiesNon-Agency (Cost: $657,622,921) | 670,133,940 | |||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIESAGENCY56.5% | ||||||||||||
Fannie Mae, Pool #FM2318 | 09/01/49 | 43,147,561 | 46,708,991 | |||||||||
Fannie Mae, Pool #MA3811 | 10/01/49 | 5,865,285 | 6,039,904 | |||||||||
Fannie Mae, Pool #MA4152 | 10/01/40 | 63,734,930 | 65,559,840 | |||||||||
Fannie Mae | 06/25/48 | 31,495,916 | 31,558,808 | |||||||||
Fannie Mae , Pool #BM5979 | 09/01/45 | 8,864,228 | 9,595,195 | |||||||||
Fannie Mae , Pool #FM2342 | 12/01/46 | 5,175,208 | 5,606,821 | |||||||||
Fannie Mae , Pool #MA3971 | 03/01/50 | 3,510,604 | 3,629,574 | |||||||||
Fannie Mae (01-40-Z) | 08/25/31 | 120,063 | 135,751 | |||||||||
Fannie Mae (03-117-TG) (PAC) | 08/25/33 | 178,856 | 188,436 | |||||||||
Fannie Mae (04-52-SW) (I/O) (I/F) | 07/25/34 | 441,058 | 51,073 | |||||||||
Fannie Mae (04-65-LT) | 08/25/24 | 412,040 | 429,041 | |||||||||
Fannie Mae (04-68-LC) | 09/25/29 | 927,793 | 1,016,007 | |||||||||
Fannie Mae (05-117-LC) (PAC) | 11/25/35 | 1,295,715 | 1,334,143 | |||||||||
Fannie Mae (05-74-CP) (I/F) (PAC) | 05/25/35 | 111,810 | 149,923 | |||||||||
Fannie Mae (07-103-AI) (I/O) (I/F) | 03/25/37 | 3,171,417 | 584,624 | |||||||||
Fannie Mae (07-20-SI) (I/O) (I/F) | 03/25/37 | 765,846 | 125,703 | |||||||||
Fannie Mae (07-21-SE) (I/O) (I/F) | 03/25/37 | 624,855 | 93,366 | |||||||||
Fannie Mae (07-56-SG) (I/O) (I/F) | 06/25/37 | 758,427 | 82,790 | |||||||||
Fannie Mae (07-58-SV) (I/O) (I/F) | 06/25/37 | 3,424,997 | 522,468 | |||||||||
Fannie Mae (07-65-S) (I/O) (I/F) | 07/25/37 | 548,366 | 74,834 | |||||||||
Fannie Mae (07-88-FY) | 09/25/37 | 445,192 | 451,192 | |||||||||
Fannie Mae (07-B2-ZA) | 06/25/37 | 7,672,682 | 8,969,421 | |||||||||
Fannie Mae (08-1-AI) (I/O) (I/F) | 05/25/37 | 3,169,289 | 408,492 | |||||||||
Fannie Mae (08-13-SB) (I/O) (I/F) | 03/25/38 | 2,950,974 | 686,335 | |||||||||
Fannie Mae (08-23-SB) (I/O) (I/F) | 04/25/38 | 4,435,321 | 739,550 | |||||||||
Fannie Mae (08-35-SD) (I/O) (I/F) | 05/25/38 | 409,084 | 60,582 | |||||||||
Fannie Mae (08-66-SG) (I/O) (I/F) | 08/25/38 | 6,575,519 | 1,308,418 | |||||||||
Fannie Mae (08-68-SA) (I/O) (I/F) | 08/25/38 | 2,336,000 | 292,644 | |||||||||
Fannie Mae (09-3-SH) (I/O) (I/F) | 06/25/37 | 864,061 | 99,387 | |||||||||
Fannie Mae (09-47-SV) (I/O) (I/F) | 07/25/39 | 575,226 | 69,919 | |||||||||
Fannie Mae (09-51-SA) (I/O) (I/F) | 07/25/39 | 2,851,755 | 465,154 | |||||||||
Fannie Mae (09-6-SD) (I/O) (I/F) | 02/25/39 | 683,555 | 114,166 | |||||||||
Fannie Mae (09-68-KB) | 09/25/24 | 1,527,282 | 1,581,529 | |||||||||
Fannie Mae (09-71-LB) | 09/25/29 | 6,614,441 | 7,095,095 | |||||||||
Fannie Mae (09-72-AC) | 09/25/29 | 8,636,555 | 9,367,807 | |||||||||
Fannie Mae (09-72-JS) (I/O) (I/F) | 09/25/39 | 520,270 | 121,254 | |||||||||
Fannie Mae (10-136-CX) (PAC) | 08/25/39 | 13,334,492 | 13,713,333 | |||||||||
Fannie Mae (11-111-DB) | 11/25/41 | 11,811,349 | 12,990,039 | |||||||||
Fannie Mae (12-128-UY) (PAC) | 11/25/42 | 11,738,000 | 12,539,027 | |||||||||
Fannie Mae (12-133-GC) (PAC) | 08/25/41 | 11,325,912 | 11,645,642 | |||||||||
Fannie Mae (12-153-PC) (PAC) | 05/25/42 | 3,468,991 | 3,545,663 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Fannie Mae (13-101-BO) (P/O) | 10/25/43 | $ | 4,432,239 | $ | 4,034,034 | |||||||
Fannie Mae (13-101-CO) (P/O) | 10/25/43 | 10,305,813 | 9,177,206 | |||||||||
Fannie Mae (13-21-EC) (I/O) | 12/25/38 | 81,161 | 81,146 | |||||||||
Fannie Mae (13-95-PN) (PAC) | 01/25/43 | 21,400,000 | 22,107,737 | |||||||||
Fannie Mae (16-106-EF) | 01/25/47 | 16,405,333 | 16,562,121 | |||||||||
Fannie Mae (16-63-AF) | 09/25/46 | 10,072,559 | 10,180,531 | |||||||||
Fannie Mae (18-25-FA) | 04/25/48 | 18,450,664 | 18,515,266 | |||||||||
Fannie Mae (18-52 PZ) (PAC) | 07/25/48 | 3,198,551 | 3,414,953 | |||||||||
Fannie Mae (18-55 PA) (PAC) | 01/25/47 | 5,848,657 | 6,068,058 | |||||||||
Fannie Mae (19-57) 2.50% | 10/25/49 | 11,615,407 | 12,042,311 | |||||||||
Fannie Mae (20-10-FA) | 03/25/50 | 11,818,941 | 11,880,362 | |||||||||
Fannie Mae (20-12-FL) | 03/25/50 | 21,402,422 | 21,568,448 | |||||||||
Fannie Mae (93-202-SZ) (I/F) (PAC) | 11/25/23 | 14,906 | 15,844 | |||||||||
Fannie Mae (95-21-C) (P/O) | 05/25/24 | 95,711 | 95,519 | |||||||||
Fannie Mae (G92-29-J) | 07/25/22 | 718 | 728 | |||||||||
Fannie Mae, Pool #254634 | 02/01/23 | 17,362 | 19,355 | |||||||||
Fannie Mae, Pool #257536 | 01/01/29 | 804,161 | 887,877 | |||||||||
Fannie Mae, Pool #310033 | 07/01/47 | 380,096 | 448,701 | |||||||||
Fannie Mae, Pool #555424 | 05/01/33 | 1,914,904 | 2,189,534 | |||||||||
Fannie Mae, Pool #661856 | 10/01/32 | 25,500 | 26,085 | |||||||||
Fannie Mae, Pool #671133 | 02/01/33 | 65,332 | 66,652 | |||||||||
Fannie Mae, Pool #687847 | 02/01/33 | 18,729 | 18,963 | |||||||||
Fannie Mae, Pool #692104 | 02/01/33 | 353,264 | 364,208 | |||||||||
Fannie Mae, Pool #699866 | 04/01/33 | 156,984 | 164,386 | |||||||||
Fannie Mae, Pool #704454 | 05/01/33 | 25,154 | 25,726 | |||||||||
Fannie Mae, Pool #728824 | 07/01/33 | 66,284 | 66,686 | |||||||||
Fannie Mae, Pool #734384 | 07/01/33 | 250,070 | 281,306 | |||||||||
Fannie Mae, Pool #888593 | 06/01/37 | 277,739 | 338,657 | |||||||||
Fannie Mae, Pool #934103 | 07/01/38 | 145,781 | 158,028 | |||||||||
Fannie Mae, Pool #979563 | 04/01/28 | 523,660 | 572,775 | |||||||||
Fannie Mae, Pool #995040 | 06/01/23 | 88,801 | 92,494 | |||||||||
Fannie Mae, Pool #995425 | 01/01/24 | 356,108 | 369,524 | |||||||||
Fannie Mae, Pool #995573 | 01/01/49 | 1,221,730 | 1,333,991 | |||||||||
Fannie Mae, Pool #995953 | 11/01/28 | 2,150,929 | 2,415,164 | |||||||||
Fannie Mae, Pool #995954 | 03/01/29 | 1,247,546 | 1,401,012 | |||||||||
Fannie Mae, Pool #AA3303 | 06/01/38 | 2,205,224 | 2,611,189 | |||||||||
Fannie Mae, Pool #AB6210 | 09/01/42 | 23,391,289 | 25,311,075 | |||||||||
Fannie Mae, Pool #AE0588 | 08/01/37 | 4,469,902 | 5,309,182 | |||||||||
Fannie Mae, Pool #AL0851 | 10/01/40 | 2,922,027 | 3,474,445 | |||||||||
Fannie Mae, Pool #AL1594 | 07/01/40 | 2,275,715 | 2,702,911 | |||||||||
Fannie Mae, Pool #AL9106 | 02/01/46 | 13,161,332 | 14,698,192 | |||||||||
Fannie Mae, Pool #AS7241 | 05/01/46 | 9,076,219 | 9,824,668 | |||||||||
Fannie Mae, Pool #AS9454 | 04/01/47 | 1,642,765 | 1,764,462 | |||||||||
Fannie Mae, Pool #AS9749 | 06/01/47 | 5,462,353 | 5,867,006 | |||||||||
Fannie Mae, Pool #AS9830 | 06/01/47 | 5,116,850 | 5,495,908 | |||||||||
Fannie Mae, Pool #AS9972 | 07/01/47 | 4,687,583 | 5,034,840 | |||||||||
Fannie Mae, Pool #BN4316 | 01/01/49 | 214,349 | 231,300 | |||||||||
Fannie Mae, Pool #BN6264 | 04/01/49 | 4,780,287 | 5,164,334 | |||||||||
Fannie Mae, Pool #CA1540 | 04/01/48 | 17,921,210 | 19,625,975 | |||||||||
Fannie Mae, Pool #CA1710 | 05/01/48 | 9,978,090 | 10,781,359 | |||||||||
Fannie Mae, Pool #CA1711 | 05/01/48 | 9,197,133 | 9,958,423 | |||||||||
Fannie Mae, Pool #CA2208 | 08/01/48 | 10,914,057 | 11,793,427 | |||||||||
Fannie Mae, Pool #CA5689 | 05/01/50 | 48,125,119 | 51,504,315 | |||||||||
Fannie Mae, Pool #MA1561 | 09/01/33 | 24,482,108 | 26,163,963 | |||||||||
Fannie Mae, Pool #MA1584 | 09/01/33 | 15,917,892 | 17,190,354 | |||||||||
Fannie Mae, Pool #MA2871 | 01/01/32 | 6,211,647 | 6,582,908 | |||||||||
Fannie Mae, Pool #MA2995 | 05/01/47 | 5,574,374 | 6,014,209 | |||||||||
Fannie Mae, Pool #MA3248 | 01/01/33 | 6,666,689 | 7,157,942 | |||||||||
Fannie Mae, Pool #MA3313 | 03/01/33 | 1,544,950 | 1,650,652 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Fannie Mae, Pool #MA3340 | 04/01/33 | $ | 12,756,746 | $ | 13,629,538 | |||||||
Fannie Mae, Pool #MA3427 | 07/01/33 | 9,120,324 | 9,690,924 | |||||||||
Freddie Mac (4896-DA) | 01/15/49 | 2,932,920 | 3,024,161 | |||||||||
Freddie Mac (4648-FA) | 01/15/47 | 9,750,512 | 9,833,808 | |||||||||
Freddie Mac (4929-FB) | 09/25/49 | 18,529,862 | 18,667,787 | |||||||||
Freddie Mac (4959-JF) | 03/25/50 | 23,555,929 | 23,744,974 | |||||||||
Freddie Mac , Pool #ZS4755 | 02/01/48 | 2,279,878 | 2,425,720 | |||||||||
Freddie Mac (1829-ZB) | 03/15/26 | 33,524 | 35,446 | |||||||||
Freddie Mac (2367-ZK) | 10/15/31 | 80,260 | 90,780 | |||||||||
Freddie Mac (2514-PZ) (PAC) | 10/15/32 | 1,318,609 | 1,466,501 | |||||||||
Freddie Mac (2571-PZ) (PAC) | 02/15/33 | 3,098,980 | 3,453,752 | |||||||||
Freddie Mac (2642-AR) | 07/15/23 | 111,204 | 114,499 | |||||||||
Freddie Mac (2647-OV) (P/O) | 07/15/33 | 604,092 | 533,518 | |||||||||
Freddie Mac (2662-MT) (TAC) | 08/15/33 | 1,109,472 | 1,206,092 | |||||||||
Freddie Mac (2666-BD) | 08/15/23 | 259,489 | 267,719 | |||||||||
Freddie Mac (2700-B) | 11/15/23 | 465,777 | 481,790 | |||||||||
Freddie Mac (2752-GZ) (PAC) | 02/15/34 | 12,303,948 | 13,798,686 | |||||||||
Freddie Mac (277-30) | 09/15/42 | 14,260,503 | 15,229,501 | |||||||||
Freddie Mac (2903-PO) (P/O) | 11/15/23 | 83,748 | 82,865 | |||||||||
Freddie Mac (3045-HZ) | 10/15/35 | 750,476 | 815,220 | |||||||||
Freddie Mac (3063-YG) (PAC) | 11/15/35 | 13,784,443 | 15,987,090 | |||||||||
Freddie Mac (3114-KZ) | 02/15/36 | 9,499,191 | 10,763,771 | |||||||||
Freddie Mac (3146-GE) | 04/15/26 | 2,121,191 | 2,281,601 | |||||||||
Freddie Mac (3149-OD) (P/O) (PAC) | 05/15/36 | 3,312,086 | 3,087,656 | |||||||||
Freddie Mac (3315-S) (I/O) (I/F) | 05/15/37 | 694,076 | 97,980 | |||||||||
Freddie Mac (3376-SX) (I/O) (I/F) | 10/15/37 | 2,001,601 | 337,685 | |||||||||
Freddie Mac (3410-IS) (I/O) (I/F) | 02/15/38 | 2,569,997 | 431,194 | |||||||||
Freddie Mac (3424-BI) (I/O) (I/F) | 04/15/38 | 2,992,652 | 729,089 | |||||||||
Freddie Mac (3519-SH) (I/O) (I/F) | 07/15/37 | 216,897 | 33,303 | |||||||||
Freddie Mac (3531-SC) (I/O) (I/F) | 05/15/39 | 4,345,034 | 358,545 | |||||||||
Freddie Mac (3541-SA) (I/O) (I/F) | 06/15/39 | 1,286,582 | 299,240 | |||||||||
Freddie Mac (3550-GS) (I/O) (I/F) | 07/15/39 | 3,976,442 | 920,509 | |||||||||
Freddie Mac (3551-VZ) | 12/15/32 | 1,699,421 | 1,927,422 | |||||||||
Freddie Mac (3557-KB) | 07/15/29 | 2,976,163 | 3,196,101 | |||||||||
Freddie Mac (3557-NB) | 07/15/29 | 6,883,863 | 7,412,295 | |||||||||
Freddie Mac (3558-KB) | 08/15/29 | 3,214,170 | 3,446,907 | |||||||||
Freddie Mac (3565-XB) | 08/15/24 | 3,044,261 | 3,161,364 | |||||||||
Freddie Mac (3575-D) | 03/15/37 | 420,183 | 445,910 | |||||||||
Freddie Mac (3626-MD) (PAC) | 01/15/38 | 1,470,477 | 1,477,490 | |||||||||
Freddie Mac (3719-PJ) (PAC) | 09/15/40 | 19,352,955 | 21,668,013 | |||||||||
Freddie Mac (3788-SB) (I/O) (I/F) | 01/15/41 | 5,610,592 | 1,293,022 | |||||||||
Freddie Mac (3885-PO) (P/O) (PAC) | 11/15/33 | 1,218,563 | 1,144,890 | |||||||||
Freddie Mac (3930-KE) (PAC) | 09/15/41 | 10,470,000 | 12,055,061 | |||||||||
Freddie Mac (4030-HS) (I/O) (I/F) | 04/15/42 | 2,138,178 | 451,633 | |||||||||
Freddie Mac (4604-PB) (PAC) | 01/15/46 | 2,201,517 | 2,328,401 | |||||||||
Freddie Mac (4846-PA) | 06/15/47 | 2,580,796 | 2,699,556 | |||||||||
Freddie Mac (R002-ZA) | 06/15/35 | 2,766,246 | 3,167,523 | |||||||||
Freddie Mac, Pool #A91162 | 02/01/40 | 13,854,020 | 15,864,875 | |||||||||
Freddie Mac, Pool #A92195 | 05/01/40 | 3,692,468 | 4,201,020 | |||||||||
Freddie Mac, Pool #C90552 | 06/01/22 | 3,155 | 3,539 | |||||||||
Freddie Mac, Pool #G01959 | 12/01/35 | 73,279 | 83,512 | |||||||||
Freddie Mac, Pool #G06173 | 11/01/40 | 16,657,607 | 18,724,335 | |||||||||
Freddie Mac, Pool #G07556 | 11/01/43 | 5,234,191 | 5,883,773 | |||||||||
Freddie Mac, Pool #G07786 | 08/01/44 | 17,019,395 | 18,976,921 | |||||||||
Freddie Mac, Pool #G07848 | 04/01/44 | 43,091,530 | 47,483,785 | |||||||||
Freddie Mac, Pool #G08687 | 01/01/46 | 28,125,733 | 30,194,318 | |||||||||
Freddie Mac, Pool #G08710 | 06/01/46 | 1,504,041 | 1,590,181 | |||||||||
Freddie Mac, Pool #G08716 | 08/01/46 | 8,186,940 | 8,753,323 | |||||||||
Freddie Mac, Pool #G08721 | 09/01/46 | 32,980,443 | 34,869,306 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Freddie Mac, Pool #G08833 | 07/01/48 | $ | 4,996,957 | $ | 5,459,629 | |||||||
Freddie Mac, Pool #G08840 | 08/01/48 | 785,212 | 859,670 | |||||||||
Freddie Mac, Pool #G08843 | 10/01/48 | 6,656,967 | 7,181,546 | |||||||||
Freddie Mac, Pool #G08848 | 11/01/48 | 3,262,287 | 3,523,687 | |||||||||
Freddie Mac, Pool #G08849 | 11/01/48 | 6,224,958 | 6,833,743 | |||||||||
Freddie Mac, Pool #G12635 | 03/01/22 | 50 | 50 | |||||||||
Freddie Mac, Pool #G13390 | 01/01/24 | 54,359 | 55,509 | |||||||||
Freddie Mac, Pool #G16085 | 02/01/32 | 4,369,261 | 4,617,887 | |||||||||
Freddie Mac, Pool #G16258 | 06/01/32 | 18,185,654 | 19,184,483 | |||||||||
Freddie Mac, Pool #G16598 | 12/01/31 | 3,915,307 | 4,126,713 | |||||||||
Freddie Mac, Pool #G18592 | 03/01/31 | 17,820,178 | 18,842,283 | |||||||||
Freddie Mac, Pool #G18627 | 01/01/32 | 10,544,504 | 11,173,650 | |||||||||
Freddie Mac, Pool #G30450 | 01/01/29 | 763,218 | 857,329 | |||||||||
Freddie Mac, Pool #G30452 | 10/01/28 | 818,083 | 918,920 | |||||||||
Freddie Mac, Pool #G30454 | 05/01/29 | 942,315 | 1,031,132 | |||||||||
Freddie Mac, Pool #G60238 | 10/01/45 | 4,804,352 | 5,240,004 | |||||||||
Freddie Mac, Pool #G60440 | 03/01/46 | 34,277,310 | 37,374,813 | |||||||||
Freddie Mac, Pool #G67700 | 08/01/46 | 31,516,583 | 34,344,912 | |||||||||
Freddie Mac, Pool #G67703 | 04/01/47 | 51,278,559 | 55,832,274 | |||||||||
Freddie Mac, Pool #G67705 | 10/01/47 | 4,796,158 | 5,274,110 | |||||||||
Freddie Mac, Pool #G67706 | 12/01/47 | 33,855,831 | 36,841,188 | |||||||||
Freddie Mac, Pool #G67707 | 01/01/48 | 18,174,367 | 20,099,690 | |||||||||
Freddie Mac, Pool #G67708 | 03/01/48 | 43,540,587 | 47,459,016 | |||||||||
Freddie Mac, Pool #G67709 | 03/01/48 | 27,893,265 | 30,546,893 | |||||||||
Freddie Mac, Pool #G67717 | 11/01/48 | 42,147,567 | 46,221,908 | |||||||||
Freddie Mac, Pool #N70081 | 07/01/38 | 2,150,804 | 2,415,111 | |||||||||
Freddie Mac, Pool #P51350 | 03/01/36 | 1,850,386 | 2,113,001 | |||||||||
Freddie Mac, Pool #SD7511 | 01/01/50 | 36,665,416 | 39,714,721 | |||||||||
Freddie Mac, Pool #SD7513 | 04/01/50 | 21,248,645 | 23,138,030 | |||||||||
Freddie Mac, Pool #ZT1491 | 11/01/48 | 11,806,112 | 12,777,830 | |||||||||
Ginnie Mae (11-70-BO) (P/O) | 05/20/41 | 5,221,553 | 4,649,972 | |||||||||
Ginnie Mae (15-42-ZB) | 03/20/45 | 19,288,352 | 20,939,246 | |||||||||
Ginnie Mae (15-43-DM) | 03/20/45 | 20,000,000 | 21,037,500 | |||||||||
Ginnie Mae (15-44-Z) | 03/20/45 | 13,052,598 | 14,143,204 | |||||||||
Ginnie Mae, Pool #MA3662 | 05/20/46 | 8,983,801 | 9,481,256 | |||||||||
Ginnie Mae II, Pool #MA6030 | 07/20/49 | 5,228,698 | 5,392,737 | |||||||||
Ginnie Mae II, Pool #80963 | 07/20/34 | 75,923 | 78,601 | |||||||||
Ginnie Mae II, Pool #MA2374 | 11/20/44 | 322,646 | 361,840 | |||||||||
Ginnie Mae II, Pool #MA2828 | 05/20/45 | 228,605 | 253,396 | |||||||||
Ginnie Mae II, Pool #MA3456 | 02/20/46 | 1,250,595 | 1,388,970 | |||||||||
Ginnie Mae II, Pool #MA3521 | 03/20/46 | 30,976,521 | 32,901,842 | |||||||||
Ginnie Mae II, Pool #MA3663 | 05/20/46 | 15,075,998 | 16,013,035 | |||||||||
Ginnie Mae II, Pool #MA3665 | 05/20/46 | 1,915,439 | 2,097,664 | |||||||||
Ginnie Mae II, Pool #MA3735 | 06/20/46 | 114,952 | 121,317 | |||||||||
Ginnie Mae II, Pool #MA3736 | 06/20/46 | 11,771,866 | 12,503,537 | |||||||||
Ginnie Mae II, Pool #MA3739 | 06/20/46 | 3,669,962 | 4,149,834 | |||||||||
Ginnie Mae II, Pool #MA3876 | 08/20/46 | 123,202 | 135,077 | |||||||||
Ginnie Mae II, Pool #MA3877 | 08/20/46 | 1,733,585 | 1,944,175 | |||||||||
Ginnie Mae II, Pool #MA4006 | 10/20/46 | 58,992 | 64,825 | |||||||||
Ginnie Mae II, Pool #MA4007 | 10/20/46 | 3,645,300 | 4,112,079 | |||||||||
Ginnie Mae II, Pool #MA4071 | 11/20/46 | 261,574 | 290,452 | |||||||||
Ginnie Mae II, Pool #MA4126 | 12/20/46 | 40,735,729 | 42,991,368 | |||||||||
Ginnie Mae II, Pool #MA4129 | 12/20/46 | 86,238 | 96,056 | |||||||||
Ginnie Mae II, Pool #MA4199 | 01/20/47 | 3,398,232 | 3,833,333 | |||||||||
Ginnie Mae II, Pool #MA4264 | 02/20/47 | 9,468,175 | 10,280,166 | |||||||||
Ginnie Mae II, Pool #MA4265 | 02/20/47 | 3,018,055 | 3,404,640 | |||||||||
Ginnie Mae II, Pool #MA4324 | 03/20/47 | 3,436,147 | 3,933,896 | |||||||||
Ginnie Mae II, Pool #MA4385 | 04/20/47 | 743,937 | 826,636 | |||||||||
Ginnie Mae II, Pool #MA4454 | 05/20/47 | 561,265 | 614,721 | |||||||||
Ginnie Mae II, Pool #MA4512 | 06/20/47 | 22,654,203 | 24,512,076 | |||||||||
Ginnie Mae II, Pool #MA4513 | 06/20/47 | 2,170,698 | 2,377,495 | |||||||||
Ginnie Mae II, Pool #MA4781 | 10/20/47 | 2,510,460 | 2,748,737 | |||||||||
Ginnie Mae II, Pool #MA4836 | 11/20/47 | 12,407,396 | 13,106,069 | |||||||||
Ginnie Mae II, Pool #MA4838 | 11/20/47 | 12,700,124 | 13,593,422 | |||||||||
Ginnie Mae II, Pool #MA4900 | 12/20/47 | 9,326,894 | 9,881,918 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Ginnie Mae II, Pool #MA4901 | 12/20/47 | $ | 872,590 | $ | 932,323 | |||||||
Ginnie Mae II, Pool #MA4962 | 01/20/48 | 11,112,568 | 11,773,853 | |||||||||
Ginnie Mae II, Pool #MA5466 | 09/20/48 | 7,680,714 | 8,162,085 | |||||||||
Ginnie Mae II, Pool #MA5467 | 09/20/48 | 883,401 | 945,290 | |||||||||
Ginnie Mae II, Pool #MA5528 | 10/20/48 | 6,491,751 | 6,897,592 | |||||||||
Ginnie Mae II, Pool #MA6080 | 08/20/49 | 427,614 | 441,537 | |||||||||
Ginnie Mae II, Pool #MA6081 | 08/20/49 | 1,726,971 | 1,781,151 | |||||||||
Ginnie Mae II, Pool #MA6209 | 10/20/49 | 5,905,077 | 6,078,843 | |||||||||
Ginnie Mae II TBA, 30 Year | ||||||||||||
2.00%(5) | 10/31/50 | 183,875,000 | 188,019,368 | |||||||||
2.50%(5) | 12/01/50 | 196,800,000 | 204,223,568 | |||||||||
Uniform Mortgage-Backed Securities TBA, 15 Year 1.50%(5) | 03/02/36 | 153,350,000 | 156,142,450 | |||||||||
2.00%(5) | 03/02/36 | 225,700,000 | 233,971,623 | |||||||||
Uniform Mortgage-Backed Securities TBA, 30 Year 2.00%(5) | 01/31/51 | 554,275,000 | 564,169,668 | |||||||||
2.50%(5) | 01/31/51 | 582,935,000 | 605,918,262 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesAgency |
| 3,826,854,225 | ||||||||||
|
| |||||||||||
RESIDENTIAL MORTGAGE-BACKED |
| |||||||||||
ACE Securities Corp. (07-ASP1-A2C) | 03/25/37 | 12,512,759 | 7,731,251 | |||||||||
ACE Securities Corp. (07-ASP1-A2D) | 03/25/37 | 6,725,475 | 4,244,441 | |||||||||
ACE Securities Corp. Home Equity Loan Trust (07-HE1-A1) | 01/25/37 | 32,103,793 | 21,505,808 | |||||||||
Adjustable Rate Mortgage Trust (04-5-3A1) | 04/25/35 | 5,039 | 5,079 | |||||||||
Argent Securities Trust (06-M1-A2C) | 07/25/36 | 49,754,238 | 20,295,201 | |||||||||
Argent Securities Trust (06-W4-A2C) | 05/25/36 | 18,293,554 | 6,697,963 | |||||||||
Argent Securities, Inc. Asset-Backed Pass-Through Certificates (05-W3-M2) | 11/25/35 | 29,183,398 | 27,916,480 | |||||||||
Asset-Backed Funding Certificates (07-NC1-A2) 0.39% (1 mo. USD LIBOR + 0.300%)(1),(2) | 05/25/37 | 6,236,861 | 6,017,139 | |||||||||
Asset-Backed Funding Certificates (07-WMC1-A2A) 0.84% (1 mo. USD LIBOR + 0.750%)(2) | 06/25/37 | 11,254,842 | 10,410,725 | |||||||||
Banc of America Funding Corp. (04-B-3A1) | 12/20/34 | 156,250 | 145,813 | |||||||||
Banc of America Funding Corp. (06-D-2A1) | 05/20/36 | 51,414 | 50,734 | |||||||||
Banc of America Funding Corp. (06-D-3A1) | 05/20/36 | 1,768,273 | 1,728,874 | |||||||||
Banc of America Funding Corp. (15-R8-1A1) | 11/26/46 | 1,992,524 | 1,984,924 | |||||||||
Banc of America Funding Trust (06-3-4A14) | 03/25/36 | 426,073 | 430,909 | |||||||||
Banc of America Funding Trust (06-3-5A3) | 03/25/36 | 1,628,241 | 1,635,548 | |||||||||
BCAP LLC Trust (06-AA2-A1) | 01/25/37 | 13,998,595 | 13,822,617 | |||||||||
Bear Stearns Alt-A Trust (05-2-2A4) | 04/25/35 | 1,773 | 1,776 | |||||||||
Bear Stearns Alt-A Trust (05-4-23A1) | 05/25/35 | 2,865,338 | 2,936,922 | |||||||||
Bear Stearns Alt-A Trust (06-4-32A1) | 07/25/36 | 363,992 | 232,569 | |||||||||
Bear Stearns ARM Trust (04-12-1A1) | 02/25/35 | 497,839 | 507,859 | |||||||||
Bear Stearns ARM Trust (05-10-A3) | 10/25/35 | 2,134,000 | 2,153,451 | |||||||||
Bear Stearns ARM Trust (06-2-2A1) | 07/25/36 | 892,809 | 828,173 | |||||||||
Bear Stearns ARM Trust (07-1-1A1) | 02/25/47 | 12,724,550 | 12,420,010 | |||||||||
Bear Stearns ARM Trust (07-1-2A1) | 02/25/47 | 132,325 | 130,780 | |||||||||
Bear Stearns ARM Trust (07-5-3A1) | 08/25/47 | 628,699 | 621,558 | |||||||||
Bear Stearns Asset-Backed Securities I Trust (05-AC6-1A3) | 09/25/35 | 1,051,121 | 1,067,139 | |||||||||
Bear Stearns Asset-Backed Securities I Trust (05-AC6-1A4) | 09/25/35 | 2,247,476 | 2,271,972 | |||||||||
Bear Stearns Mortgage Funding Trust (06-AR1-2A1) | 08/25/36 | 11,086,700 | 10,469,697 | |||||||||
Bear Stearns Mortgage Funding Trust (06-AR3-1A1) | 10/25/36 | 369,491 | 343,862 | |||||||||
BNC Mortgage Loan Trust (07-1-A4) 0.25% (1 mo. USD LIBOR + 0.160%)(2) | 03/25/37 | 6,282,656 | 6,034,746 | |||||||||
Chase Mortgage Finance Corp. (06-A1-2A1) | 09/25/36 | 475,440 | 436,964 | |||||||||
Chase Mortgage Finance Corp. (07-A1-8A1) | 02/25/37 | 1,684,644 | 1,743,693 | |||||||||
Chaseflex Trust (05-1-1A5) | 02/25/35 | 2,572,501 | 2,446,259 | |||||||||
CIM Trust (18-R5-A1) | 07/25/58 | 15,690,628 | 15,933,122 | |||||||||
CIM Trust (18-R6-A1) | 09/25/58 | 12,556,208 | 12,519,284 | |||||||||
CIM Trust (19-R3-A) | 06/25/58 | 16,936,256 | 16,918,826 | |||||||||
CIM Trust (20-NR1-A) | 06/26/62 | 34,332,926 | 34,780,579 | |||||||||
CIM Trust (20-R1-A1) | 10/27/59 | 26,234,132 | 22,593,044 | |||||||||
CIM Trust (20-R3-A1A) | 01/26/60 | 21,972,535 | 21,348,291 | |||||||||
CIM Trust (20-R4-A1A) | 06/25/60 | 25,252,519 | 25,330,239 | |||||||||
CIM Trust (20-R6-A1A) | 12/25/60 | 16,849,964 | 16,874,162 | |||||||||
CIM Trust (20-R7-A1A) | 12/27/61 | 29,139,635 | 29,372,081 | |||||||||
CIM Trust (21-NR2-A1) | 07/25/59 | 18,217,674 | 18,245,895 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
CIM Trust (21-NR3-A1) | 06/25/57 | $ | 13,844,443 | $ | 13,873,861 | |||||||
CIM Trust (21-R3-A1A) | 06/25/57 | 32,204,463 | 32,822,759 | |||||||||
Citicorp Mortgage Securities Trust, Inc. (07-4-3A1) | 05/25/37 | 25,453 | 25,554 | |||||||||
Citigroup Mortgage Loan Trust (06-HE3-A1) | 12/25/36 | 9,815,968 | 9,670,155 | |||||||||
Citigroup Mortgage Loan Trust, Inc. (06-AR5-1A1A) | 07/25/36 | 2,321,080 | 1,855,565 | |||||||||
Citigroup Mortgage Loan Trust, Inc. (07-12-2A1) | 10/25/36 | 2,543,260 | 1,826,039 | |||||||||
CitiMortgage Alternative Loan Trust (07-A5-1A6) | 05/25/37 | 11,346,327 | 11,528,532 | |||||||||
Conseco Finance Securitizations Corp. (00-4-A5) | 05/01/32 | 45,277,023 | 13,252,114 | |||||||||
Conseco Financial Corp. (99-2-A7) | 12/01/30 | 1,844,003 | 1,966,460 | |||||||||
Countrywide Alternative Loan Trust (05-20CB-4A1) | 07/25/20 | 1,299 | 1,279 | |||||||||
Countrywide Alternative Loan Trust (05-84-1A1) | 02/25/36 | 112,673 | 97,221 | |||||||||
Countrywide Alternative Loan Trust (05-J1-2A1) | 02/25/25 | 312,688 | 306,678 | |||||||||
Countrywide Alternative Loan Trust (06-HY12-A5) | 08/25/36 | 6,448,417 | 6,471,898 | |||||||||
Countrywide Alternative Loan Trust (07-19-1A34) | 08/25/37 | 12,698,333 | 8,479,672 | |||||||||
Countrywide Home Loans Mortgage Pass-Through Trust (04-13-1A3) | 08/25/34 | 3,925,536 | 4,062,080 | |||||||||
Countrywide Home Loans Mortgage Pass-Through Trust (05-9-1A1) | 05/25/35 | 7,420,762 | 6,273,199 | |||||||||
Countrywide Home Loans Mortgage Pass-Through Trust (05-HYB5-4A1) | 09/20/35 | 14,476 | 12,679 | |||||||||
Countrywide Home Loans Mortgage Pass-Through Trust (07-HY5-1A1) | 09/25/47 | 4,323 | 4,055 | |||||||||
Countrywide Home Loans Mortgage Pass-Through Trust (07-HYB1-1A1) | 03/25/37 | 35,616 | 31,175 | |||||||||
Credit Suisse First Boston Mortgage Securities Corp. (03-8-4PPA) | 04/22/33 | 26,771 | 27,987 | |||||||||
Credit Suisse First Boston Mortgage Securities Corp. (05-11-1A1) | 12/25/35 | 1,725,259 | 1,236,533 | |||||||||
Credit Suisse First Boston Mortgage Securities Corp. (05-12-1A1) | 01/25/36 | 6,517,773 | 2,865,705 | |||||||||
Credit Suisse Mortgage Trust (13-7R-4A1) | 07/26/36 | 165,176 | 177,416 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (06-CB1-AF2) | 01/25/36 | 3,167,075 | 2,591,621 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (06-CB7-A4) | 10/25/36 | 21,826,505 | 18,538,694 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (06-CB9-A4) | 11/25/36 | 13,784,622 | 8,391,714 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (07-CB2-A2B) | 02/25/37 | 2,776,502 | 2,216,008 | |||||||||
Credit-Based Asset Servicing and Securitization LLC (07-CB2-A2C) | 02/25/37 | 9,550,632 | 7,621,741 | |||||||||
CSMC Mortgage-Backed Trust (06-8-3A1) | 10/25/21 | 1,000,147 | 716,067 | |||||||||
CSMC Mortgage-Backed Trust (06-9-5A1) | 11/25/36 | 1,240,844 | 1,232,457 | |||||||||
CSMC Mortgage-Backed Trust (07-2-3A4) | 03/25/37 | 4,829,303 | 3,632,482 | |||||||||
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust (05-1-1A3) | 02/25/35 | 5,246,978 | 5,157,533 | |||||||||
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust (06-AR6-A6) | 02/25/37 | 228,986 | 222,046 | |||||||||
DSLA Mortgage Loan Trust (05-AR6-2A1A) | 10/19/45 | 1,969,028 | 1,921,912 | |||||||||
DSLA Mortgage Loan Trust (06-AR2-2A1A) | 10/19/36 | 22,444,972 | 19,516,105 | |||||||||
DSLA Mortgage Loan Trust (07-AR1-2A1A) | 03/19/37 | 5,372,614 | 5,014,559 | |||||||||
Fieldstone Mortgage Investment Corp. (07-1-2A2) | 04/25/47 | 3,118,117 | 2,669,987 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF18-A2C) | 12/25/37 | 12,695,272 | 11,874,734 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF18-A2D) | 12/25/37 | 7,450,019 | 6,993,627 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (07-FF1-A2C) | 01/25/38 | 3,856,557 | 2,672,808 | |||||||||
First Franklin Mortgage Loan Asset-Backed Certificates (07-FF1-A2D) | 01/25/38 | 18,876,282 | 13,285,716 | |||||||||
First Franklin Mortgage Loan Trust (06-FF12-A1) | 09/25/36 | 7,658,294 | 7,274,170 | |||||||||
First Franklin Mortgage Loan Trust (06-FF9-2A4) | 06/25/36 | 5,068,000 | 4,848,823 | |||||||||
First Franklin Mortgage Loan Trust (07-FF2-A1) | 03/25/37 | 39,590,129 | 26,653,750 | |||||||||
First Franklin Mortgage Loan Trust (07-FF2-A2C) | 03/25/37 | 41,279,244 | 25,550,094 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
First Horizon Alternative Mortgage Securities Trust (05-AA3-3A1) | 05/25/35 | $ | 1,895,946 | $ | 1,823,576 | |||||||
First Horizon Alternative Mortgage Securities Trust (05-AA7-1A1) | 09/25/35 | 1,702,003 | 1,599,207 | |||||||||
First Horizon Alternative Mortgage Securities Trust (05-AA7-2A1) | 09/25/35 | 1,260,209 | 1,231,766 | |||||||||
First Horizon Alternative Mortgage Securities Trust (06-AA7-A1) | 01/25/37 | 6,068,584 | 5,349,263 | |||||||||
Fremont Home Loan Trust (05-E-2A4) | 01/25/36 | 12,058,200 | 11,855,034 | |||||||||
Fremont Home Loan Trust (06-1-2A3) | 04/25/36 | 341,984 | 341,382 | |||||||||
GMAC Mortgage Loan Trust (05-AR5-2A1) | 09/19/35 | 1,982,822 | 1,581,999 | |||||||||
GreenPoint Mortgage Funding Trust (05-AR3-1A1) | 08/25/45 | 342,193 | 330,236 | |||||||||
GSAA Home Equity Trust (05-7-AF5) | 05/25/35 | 190,040 | 192,547 | |||||||||
GSR Mortgage Loan Trust (04-9-3A1) | 08/25/34 | 1,277,661 | 1,284,911 | |||||||||
GSR Mortgage Loan Trust (06-OA1-2A2) | 08/25/46 | 49,036,064 | 28,346,861 | |||||||||
GSR Mortgage Loan Trust (07-3F-3A7) | 05/25/37 | 5,896,095 | 5,153,232 | |||||||||
GSR Mortgage Loan Trust (07-AR2-2A1) | 05/25/37 | 1,957,163 | 1,504,254 | |||||||||
GSR Mortgage Loan Trust (07-AR2-5A1A) | 05/25/37 | 965,632 | 907,822 | |||||||||
Harborview Mortgage Loan Trust (05-9-2A1A) | 06/20/35 | 1,820,443 | 1,787,520 | |||||||||
HarborView Mortgage Loan Trust (06-1-1A1A) | 03/19/36 | 26,926,368 | 18,708,047 | |||||||||
HarborView Mortgage Loan Trust (07-3-1A1A) | 05/19/47 | 11,398,354 | 10,877,981 | |||||||||
HSI Asset Loan Obligation Trust (07-2-2A12) | 09/25/37 | 625,749 | 590,508 | |||||||||
HSI Asset Securitization Corp. (06-HE2-1A) | 12/25/36 | 39,246,518 | 20,483,154 | |||||||||
HSI Asset Securitization Corp. (06-WMC1-A3) | 07/25/36 | 27,373,949 | 16,218,328 | |||||||||
Impac CMB Trust (04-5-1A1) | 10/25/34 | 2,459 | 2,462 | |||||||||
Impac CMB Trust (05-1-1A1) | 04/25/35 | 624,984 | 610,036 | |||||||||
Impac CMB Trust (05-5-A2) | 08/25/35 | 3,340,313 | 3,231,421 | |||||||||
Impac Secured Assets Trust (06-3-A1) | 11/25/36 | 5,233,841 | 4,893,719 | |||||||||
IndyMac Index Mortgage Loan Trust (04-AR4-2A) | 08/25/34 | 3,362,019 | 3,532,653 | |||||||||
IndyMac Index Mortgage Loan Trust (04-AR9-4A) | 11/25/34 | 396,514 | 403,260 | |||||||||
IndyMac Index Mortgage Loan Trust (05-AR17-3A1) | 09/25/35 | 3,105,210 | 2,555,277 | |||||||||
IndyMac Index Mortgage Loan Trust (05-AR23-2A1) | 11/25/35 | 2,070,582 | 1,964,194 | |||||||||
IndyMac Index Mortgage Loan Trust (05-AR23-6A1) | 11/25/35 | 3,054,800 | 3,006,444 | |||||||||
IndyMac Index Mortgage Loan Trust (05-AR25-2A1) | 12/25/35 | 1,577,946 | 1,570,251 | |||||||||
IndyMac Index Mortgage Loan Trust (05-AR7-2A1) | 06/25/35 | 1,663,006 | 1,415,267 | |||||||||
IndyMac Index Mortgage Loan Trust (06-AR39-A1) | 02/25/37 | 5,606,812 | 5,562,891 | |||||||||
IndyMac Index Mortgage Loan Trust (07-AR11-1A1) | 06/25/37 | 15,379 | 15,116 | |||||||||
IndyMac Index Mortgage Loan Trust (07-AR5-2A1) | 05/25/37 | 10,614,232 | 9,991,765 | |||||||||
IndyMac Index Mortgage Loan Trust (07-AR7-1A1) | 11/25/37 | 1,993,536 | 1,937,724 | |||||||||
IndyMac INDX Mortgage Loan Trust (06-AR6-2A1A) | 06/25/46 | 9,729,862 | 9,126,365 | |||||||||
JPMorgan Alternative Loan Trust (06-A2-5A1) | 05/25/36 | 4,010,068 | 2,899,876 | |||||||||
JPMorgan Alternative Loan Trust (06-A4-A8) | 09/25/36 | 609,405 | 631,210 | |||||||||
JPMorgan Mortgage Acquisition Corp. (06-CH2-AF4) | 10/25/36 | 4,877,768 | 3,852,003 | |||||||||
JPMorgan Mortgage Acquisition Trust (06-WMC4-A3) | 12/25/36 | 28,896,881 | 18,912,416 | |||||||||
JPMorgan Mortgage Trust (05-A6-7A1) | 08/25/35 | 168,513 | 159,002 | |||||||||
JPMorgan Mortgage Trust (06-A2-5A3) | 11/25/33 | 883,489 | 891,200 | |||||||||
JPMorgan Mortgage Trust (06-A4-1A4) 2.87%(3),(6) | 06/25/36 | 249,254 | 217,187 | |||||||||
JPMorgan Mortgage Trust (06-A7-2A4R) | 01/25/37 | 11,262 | 10,582 | |||||||||
JPMorgan Mortgage Trust (06-S2-2A2) | 06/25/21 | 48,330 | 61,160 | |||||||||
Lehman Mortgage Trust (06-4-4A1) | 08/25/21 | 599,298 | 586,916 | |||||||||
Lehman XS Trust (06-10N-1A3A) | 07/25/46 | 8,846,460 | 9,046,483 | |||||||||
Lehman XS Trust (06-12N-A31A) | 08/25/46 | 2,865,343 | 2,847,169 | |||||||||
Lehman XS Trust (06-13-1A2) | 09/25/36 | 7,642 | |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Lehman XS Trust (06-GP1-A2A) | 05/25/46 | $ | 207 | $ | | |||||||
Lehman XS Trust (06-GP2-3A1) | 06/25/46 | 14,885,658 | 13,409,209 | |||||||||
Lehman XS Trust (06-GP4-3A2A) | 08/25/46 | 287 | | |||||||||
Lehman XS Trust (06-GP4-3A5) | 08/25/46 | 10,358,027 | 10,280,784 | |||||||||
Lehman XS Trust (07-4N-1A1) | 03/25/47 | 35 | | |||||||||
MASTR Alternative Loans Trust (05-4-1A1) | 05/25/35 | 4,553,895 | 4,595,330 | |||||||||
MASTR Alternative Loans Trust (06-2-2A1) | 03/25/36 | 65,943 | 5,013 | |||||||||
MASTR Asset Securitization Trust (06-3-2A1) | 10/25/36 | 30,227 | 4,676 | |||||||||
MASTR Asset-Backed Securities Trust (06-AB1-A4) | 02/25/36 | 365,480 | 357,301 | |||||||||
MASTR Asset-Backed Securities Trust (06-HE5-A3) | 11/25/36 | 16,821,838 | 11,890,210 | |||||||||
MASTR Seasoned Securitization Trust (04-1-4A1) | 10/25/32 | 3,980 | 4,145 | |||||||||
Merrill Lynch Alternative Note Asset Trust (07-A1-A2C) | 01/25/37 | 1,683,604 | 742,894 | |||||||||
Merrill Lynch Alternative Note Asset Trust (07-A1-A3) | 01/25/37 | 866,046 | 383,427 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-1-A2B) | 04/25/37 | 39,732,196 | 22,392,708 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-1-A2C) | 04/25/37 | 22,172,460 | 12,710,675 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-1-A2D) | 04/25/37 | 5,661,153 | 3,306,941 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-2-A2C) | 05/25/37 | 5,031,024 | 2,976,683 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-3-A2B) | 06/25/37 | 2,231,125 | 2,098,157 | |||||||||
Merrill Lynch First Franklin Mortgage Loan Trust (07-4-2A3) | 07/25/37 | 29,283,880 | 26,222,807 | |||||||||
Merrill Lynch Mortgage-Backed Securities Trust (07-2-1A1) | 08/25/36 | 867,511 | 823,086 | |||||||||
Mid-State Trust (05-1-A) | 01/15/40 | 2,011,180 | 2,158,005 | |||||||||
Morgan Stanley ABS Capital I, Inc. Trust (04-NC8-M2) | 09/25/34 | 497,285 | 493,150 | |||||||||
Morgan Stanley Home Equity Loan Trust (06-2-A4) | 02/25/36 | 1,482,272 | 1,482,126 | |||||||||
Morgan Stanley Mortgage Loan Trust (07-3XS-2A6) | 01/25/47 | 2,305,767 | 1,028,112 | |||||||||
Morgan Stanley Mortgage Loan Trust (07-7AX-2A1) | 04/25/37 | 3,091,733 | 1,294,787 | |||||||||
Morgan Stanley Resecuritization Trust (14-R2-2A) | 12/26/46 | 860,267 | 865,340 | |||||||||
MortgageIT Trust (05-4-A1) | 10/25/35 | 1,010,809 | 1,007,003 | |||||||||
New Century Home Equity Loan Trust (06-1-A2B) | 05/25/36 | 21,110,963 | 20,663,904 | |||||||||
Oakwood Mortgage Investors, Inc. (02-A-A4) | 03/15/32 | 1,095,826 | 1,133,416 | |||||||||
Oakwood Mortgage Investors, Inc. (99-E-A1) | 03/15/30 | 3,380,046 | 2,648,879 | |||||||||
Ownit Mortgage Loan Asset-Backed Certificates (06-3-A2D) | 03/25/37 | 12,135,555 | 11,960,269 | |||||||||
Ownit Mortgage Loan Asset-Backed Certificates (06-6-A2C) | 09/25/37 | 17,806,226 | 11,054,746 | |||||||||
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates (05-WCW2-M3) | 07/25/35 | 10,000,000 | 9,972,535 | |||||||||
Prime Mortgage Trust (06-1-1A1) | 06/25/36 | 200,300 | 200,561 | |||||||||
RAAC Series Trust (05-SP1-4A1) | 09/25/34 | 1,501,470 | 1,525,717 | |||||||||
RALI Trust (05-QA13-2A1) | 12/25/35 | 476,665 | 445,651 | |||||||||
RALI Trust (05-QA7-A21) | 07/25/35 | 1,405,057 | 1,402,574 | |||||||||
RALI Trust (06-QA3-A1) | 04/25/36 | 56,506 | 66,213 | |||||||||
Residential Accredit Loans, Inc. (05-QA8-CB21) | 07/25/35 | 3,402,669 | 2,476,858 | |||||||||
Residential Accredit Loans, Inc. (05-QS7-A1) | 06/25/35 | 524,891 | 507,030 | |||||||||
Residential Accredit Loans, Inc. (06-QA1-A21) | 01/25/36 | 12,203 | 11,036 | |||||||||
Residential Accredit Loans, Inc. (06-QA10-A2) | 12/25/36 | 10,676,403 | 10,506,709 | |||||||||
Residential Accredit Loans, Inc. (06-QA2-1A1) | 02/25/36 | 15,071 | 10,772 | |||||||||
Residential Accredit Loans, Inc. (06-QS10-AV) (I/O) | 08/25/36 | 26,644,356 | 544,150 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
Residential Accredit Loans, Inc. (06-QS11-AV) (I/O) | 08/25/36 | $ | 26,376,377 | $ | 351,199 | |||||||
Residential Accredit Loans, Inc. (06-QS5-A5) | 05/25/36 | 3,127,044 | 3,013,177 | |||||||||
Residential Accredit Loans, Inc. (06-QS6-1AV) (I/O) | 06/25/36 | 33,641,995 | 768,205 | |||||||||
Residential Accredit Loans, Inc. (06-QS7-AV) (I/O) | 06/25/36 | 7,222,935 | 100,298 | |||||||||
Residential Accredit Loans, Inc. (07-QS1-2AV) (I/O) | 01/25/37 | 1,800,369 | 11,093 | |||||||||
Residential Accredit Loans, Inc. (07-QS2-AV) (I/O) | 01/25/37 | 13,438,277 | 156,927 | |||||||||
Residential Accredit Loans, Inc. (07-QS3-AV) (I/O) | 02/25/37 | 55,603,860 | 657,649 | |||||||||
Residential Accredit Loans, Inc. (07-QS4-3AV) (I/O) | 03/25/37 | 6,749,610 | 84,220 | |||||||||
Residential Accredit Loans, Inc. (07-QS5-AV) (I/O) | 03/25/37 | 8,597,143 | 72,527 | |||||||||
Residential Accredit Loans, Inc. (07-QS6-A45) | 04/25/37 | 1,844,076 | 1,784,874 | |||||||||
Residential Accredit Loans, Inc. (07-QS8-AV) (I/O) | 06/25/37 | 13,485,607 | 207,965 | |||||||||
Residential Asset Securitization Trust (07-A3-1A4) | 04/25/37 | 2,595,856 | 1,865,331 | |||||||||
Residential Funding Mortgage Securities I (05-SA5-2A) | 11/25/35 | 11,862 | 11,189 | |||||||||
Residential Funding Mortgage Securities I (06-S9-A3) (PAC) | 09/25/36 | 415,120 | 403,033 | |||||||||
Residential Funding Mortgage Securities I (07-S2-A9) | 02/25/37 | 4,093,457 | 3,908,027 | |||||||||
Residential Funding Mortgage Securities I (07-SA2-2A2) | 04/25/37 | 13,405 | 12,339 | |||||||||
Saxon Asset Securities Trust (06-3-A3) | 10/25/46 | 6,717,370 | 6,615,270 | |||||||||
Saxon Asset Securities Trust (07-2-A2C) | 05/25/47 | 12,512,595 | 11,054,438 | |||||||||
Saxon Asset Securities Trust (07-2-A2D) | 05/25/47 | 14,555,171 | 12,944,140 | |||||||||
Securitized Asset Backed Receivables LLC Trust (06-WM4-A1) | 11/25/36 | 30,886,786 | 19,618,398 | |||||||||
Securitized Asset Backed Receivables LLC Trust (07-BR2-A1) | 02/25/37 | 22,232,943 | 20,090,890 | |||||||||
Securitized Asset-Backed Receivables LLC Trust (07-BR1-A2C) | 02/25/37 | 2,806,228 | 1,798,313 | |||||||||
Securitized Asset-Backed Receivables LLC Trust (07-BR2-A2) | 02/25/37 | 30,352,735 | 16,762,562 | |||||||||
Securitized Asset-Backed Receivables LLC Trust (07-NC2-A2B) | 01/25/37 | 14,346,118 | 12,678,780 | |||||||||
Sequoia Mortgage Trust (03-8-A1) | 01/20/34 | 566,562 | 560,039 | |||||||||
SG Mortgage Securities Trust (07-NC1-A2) | 12/25/36 | 17,403,308 | 13,299,317 | |||||||||
Soundview Home Equity Loan Trust (06-OPT4-2A4) | 06/25/36 | 10,196,114 | 10,031,159 | |||||||||
Soundview Home Equity Loan Trust (07-OPT3-2A4) | 08/25/37 | 4,000,000 | 3,816,014 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (04-12-2A) | 09/25/34 | 820,420 | 829,550 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (04-14-2A) | 10/25/34 | 1,451,744 | 1,474,193 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (06-2-3A1) | 03/25/36 | 14,427,210 | 14,369,026 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (06-2-5A1) | 03/25/36 | 280,303 | 247,452 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (06-4-5A1) | 05/25/36 | 1,544,022 | 1,378,919 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (06-5-1A1) | 06/25/36 | 2,125,304 | 2,039,223 | |||||||||
Structured Adjustable Rate Mortgage Loan Trust (07-1-1A1) | 02/25/37 | 1,823,896 | 1,274,266 | |||||||||
Structured Asset Mortgage Investments II Trust (07-AR4-A5) 0.31% (1 mo. USD LIBOR + 0.220%)(2) | 09/25/47 | 17,448,810 | 16,265,855 | |||||||||
Structured Asset Securities Corp. (05-2XS-1A5B) | 02/25/35 | 937 | 950 | |||||||||
SunTrust Adjustable Rate Mortgage Loan Trust (07-2-2A1) | 04/25/37 | 114,245 | 80,757 | |||||||||
SunTrust Adjustable Rate Mortgage Loan Trust (07-3-1A1) | 06/25/37 | 3,095 | 2,512 | |||||||||
SunTrust Adjustable Rate Mortgage Loan Trust (07-S1-2A1) | 01/25/37 | 359,317 | 371,908 | |||||||||
Wachovia Mortgage Loan Trust LLC (06-AMN1-A3) 0.57% (1 mo. USD LIBOR + 0.480%)(2) | 08/25/36 | 6,227,444 | 3,004,767 | |||||||||
WaMu Mortgage Pass-Through Certificates (04-AR14-A1) | 01/25/35 | 3,146,096 | 3,190,493 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR13-A1A1) | 10/25/45 | 3,855,769 | 3,858,036 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR13-A1A2) | 10/25/45 | 310,725 | 311,790 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR14-2A1) | 12/25/35 | 809,691 | 827,715 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR18-1A1) | 01/25/36 | 1,112,960 | 1,137,255 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR2-2A1A) | 01/25/45 | 115,819 | 115,648 | |||||||||
WaMu Mortgage Pass-Through Certificates (05-AR9-A1A) | 07/25/45 | 6,520,950 | 6,533,818 | |||||||||
WaMu Mortgage Pass-Through Certificates (06-AR1-2A1A) | 01/25/46 | 8,426,902 | 8,457,359 |
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
Issues | Maturity Date | Principal Amount | Value | |||||||||
WaMu Mortgage Pass-Through Certificates (06-AR11-1A) | 09/25/46 | $ | 2,555,150 | $ | 2,407,296 | |||||||
WaMu Mortgage Pass-Through Certificates (06-AR17-1A1A) | 12/25/46 | 2,940,101 | 2,843,155 | |||||||||
WaMu Mortgage Pass-Through Certificates Trust (05-AR11-A1A) | 08/25/45 | 10,009,045 | 10,046,908 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (02-AR1-1A1) 3.05%(3) | 11/25/30 | 62,248 | 63,732 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (06-1-3A2) | 02/25/36 | 714,102 | 694,499 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (06-5-1A1) | 07/25/36 | 1,477,550 | 973,967 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (06-AR10-A2A) 0.26% (1 mo. USD LIBOR + 0.170%)(2) | 12/25/36 | 2,383,991 | 2,328,016 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (07-OA3-5A) 1.56% (11th District Cost of Funds + 1.250%)(2),(6) | 04/25/47 | 1,192,038 | 1,158,494 | |||||||||
Washington Mutual Alternative Mortgage Pass-Through Certificates (07-OC2-A3) 0.40% (1 mo. USD LIBOR + 0.310%)(2) | 06/25/37 | 3,092,749 | 3,036,718 | |||||||||
Washington Mutual Asset-Backed Certificates (06-HE1-2A4) | 04/25/36 | 4,292,826 | 4,112,352 | |||||||||
Washington Mutual Asset-Backed Certificates (07-HE2-2A1) | 02/25/37 | 16,631,141 | 6,602,090 | |||||||||
Wells Fargo Home Equity Asset-Backed Securities (07-1-A3) | 03/25/37 | 5,521,000 | 5,061,478 | |||||||||
Wells Fargo Mortgage-Backed Securities Trust (06-AR11-A6) | 08/25/36 | 1,311,458 | 1,273,465 | |||||||||
Wells Fargo Mortgage-Backed Securities Trust (07-AR4-A1) | 08/25/37 | 82,817 | 81,728 | |||||||||
|
| |||||||||||
Total Residential Mortgage-Backed SecuritiesNon-Agency (Cost: $1,224,202,825) |
| 1,343,549,752 | ||||||||||
|
| |||||||||||
U.S. TREASURY SECURITIES28.0% |
| |||||||||||
U.S. Treasury Bond | ||||||||||||
2.38% | 05/15/51 | 249,790,000 | 276,700,976 | |||||||||
U.S. Treasury Note | ||||||||||||
0.13% | 05/31/23 | 445,122,000 | 444,809,026 | |||||||||
0.13% | 06/30/23 | 242,410,000 | 242,211,149 | |||||||||
0.13% | 07/31/23 | 224,895,000 | 224,609,484 | |||||||||
0.63% | 07/31/26 | 223,444,000 | 222,667,186 | |||||||||
0.75% | 05/31/26 | 206,480,000 | 207,230,103 | |||||||||
0.88% | 06/30/26 | 242,075,000 | 244,315,392 | |||||||||
1.63% | 05/15/31 | 31,640,000 | 32,804,253 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $1,873,019,563) | 1,895,347,569 | |||||||||||
|
| |||||||||||
Total Fixed Income Securities (Cost: $8,029,401,615) | 8,273,202,091 | |||||||||||
Shares | ||||||||||||
MONEY MARKET INVESTMENTS7.3% |
| |||||||||||
State Street Institutional U.S. Government Money Market FundPremier Class, 0.03%(8) |
| 494,694,068 | 494,694,068 | |||||||||
|
| |||||||||||
Total Money Market Investments (Cost: $494,694,068) | 494,694,068 | |||||||||||
|
| |||||||||||
Maturity Date | Principal Amount | |||||||||||
SHORT TERM INVESTMENTS5.7% |
| |||||||||||
U.S. Treasury Securities 5.7% |
| |||||||||||
U.S. Treasury Bill | 08/12/21 | $ | 125,000,000 | 124,998,956 | ||||||||
0.03%(9) | 08/26/21 | 75,000,000 | 74,998,375 | |||||||||
0.05%(9) | 10/07/21 | 100,000,000 | 99,990,835 | |||||||||
0.05%(9) | 01/06/22 | 50,000,000 | 49,989,097 | |||||||||
0.01%(9) | 08/05/21 | 35,000,000 | 34,999,927 | |||||||||
|
| |||||||||||
Total U.S. Treasury Securities (Cost: $384,975,832) | 384,977,190 | |||||||||||
|
| |||||||||||
Total Short Term Investments (Cost: $384,975,832) | 384,977,190 | |||||||||||
|
| |||||||||||
Total Investments (135.1%) (Cost: $8,909,071,515) |
| 9,152,873,349 | ||||||||||
|
| |||||||||||
Liabilities In Excess Of Other Assets (-35.1%) |
| (2,379,107,486 | ) | |||||||||
|
| |||||||||||
Net Assets (100.0%) |
| $ | 6,773,765,863 | |||||||||
|
|
TCW Total Return Bond Fund | ||
SCHEDULE OF INVESTMENTS (Unaudited) | July 31, 2021 |
FUTURES CONTRACTS | ||||||||||||||||||
Number of | Type | Expiration Date | Notional | Market Value | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Long Futures |
| |||||||||||||||||
2,684 | U.S. Ultra Long Bond Futures | 09/21/21 | 494,866,510 | $ | 535,541,875 | $ | 40,675,365 | |||||||||||
|
|
|
|
|
|
|
| |||||||||||
Short Futures |
| |||||||||||||||||
104 | 10-Year U.S. Ultra Treasury Note Futures | 09/21/21 | (15,630,655 | ) | $ | (15,626,000 | ) | $ | 4,655 | |||||||||
|
|
|
|
|
|
|
|
Notes to the Schedule of Investments: | ||||
ABS | Asset-Backed Securities. | |||
ARM | Adjustable Rate Mortgage. | |||
CLO | Collateralized Loan Obligation. | |||
I/F | Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates. | |||
I/O | Interest Only Security. | |||
PAC | Planned Amortization Class. | |||
P/O | Principal Only Security. | |||
SOFR | Secured Overnight Financing Rate. | |||
TAC | Target Amortization Class. | |||
TBA | To Be Announced. | |||
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At July 31, 2021, the value of these securities amounted to $1,279,194,381 or 18.9% of net assets. These securities are determined to be liquid by the Funds investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Companys Board of Directors. | |||
(2) | Floating or variable rate security. The interest shown reflects the rate in effect at July 31, 2021. | |||
(3) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. | |||
(4) | Security is not accruing interest. | |||
(5) | Security purchased on a forward commitment with an approximate principal amount. The actual principal amount and maturity date will be determined upon settlement when the security is delivered. | |||
(6) | A portion of the principal balance has been written-off during the period due to defaults in the underlying loans. Cost basis has been adjusted. | |||
(7) | For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs. | |||
(8) | Rate disclosed is the 7-day net yield as of July 31, 2021. | |||
(9) | Rate shown represents yield-to-maturity. |
TCW Total Return Bond Fund
Investments by Sector (Unaudited) | July 31, 2021 |
Sector | Percentage of Net Assets | |||
Residential Mortgage-Backed SecuritiesAgency | 56.5 | % | ||
U.S. Treasury Securities | 33.7 | |||
Residential Mortgage-Backed SecuritiesNon-Agency | 19.8 | |||
Commercial Mortgage-Backed SecuritiesNon-Agency | 9.9 | |||
Asset-Backed Securities | 7.5 | |||
Money Market Investments | 7.3 | |||
Commercial Mortgage-Backed SecuritiesAgency | 0.4 | |||
Other* | (35.1 | ) | ||
|
| |||
Total | 100.0 | % | ||
|
|
* | Includes capstock, futures, pending trades, interest receivable and accrued expenses payable. |
TCW Total Return Bond Fund
Fair Valuation Summary (Unaudited) | July 31, 2021 |
The following is a summary of the fair valuations according to the inputs used as of July 31, 2021 in valuing the Funds investments:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | ||||||||||||
Fixed Income Securities | ||||||||||||||||
Asset-Backed Securities | $ | | $ | 512,385,208 | $ | | $ | 512,385,208 | ||||||||
Commercial Mortgage-Backed SecuritiesAgency | | 24,931,397 | | 24,931,397 | ||||||||||||
Commercial Mortgage-Backed SecuritiesNon-Agency | | 670,133,940 | | 670,133,940 | ||||||||||||
Residential Mortgage-Backed SecuritiesAgency | | 3,826,854,225 | | 3,826,854,225 | ||||||||||||
Residential Mortgage-Backed SecuritiesNon-Agency | | 1,340,590,506 | 2,959,246 | 1,343,549,752 | ||||||||||||
U.S. Treasury Securities | 1,895,347,569 | | | 1,895,347,569 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Fixed Income Securities | 1,895,347,569 | 6,374,895,276 | 2,959,246 | 8,273,202,091 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Money Market Investments | 494,694,068 | | | 494,694,068 | ||||||||||||
Short-Term Investments | 384,977,190 | | | 384,977,190 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 2,775,018,827 | $ | 6,374,895,276 | $ | 2,959,246 | $ | 9,152,873,349 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | ||||||||||||||||
Interest Rate Risk | 40,680,020 | | | 40,680,020 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 2,815,698,847 | $ | 6,374,895,276 | $ | 2,959,246 | $ | 9,193,553,369 | ||||||||
|
|
|
|
|
|
|
|
Note 1 Security Valuations
Securities listed or traded on the NYSE and other stock exchanges are valued at the latest sale price on the exchange. Securities traded on the NASDAQ stock market (NASDAQ) are valued using official closing prices as reported by NASDAQ, which may not be the last sale price. Investments in open-end mutual funds including money market funds are valued based on the NAV per share as reported by the investment companies. All other securities for which over-the-counter (OTC) market quotations are readily available, including short-term securities, swap agreements and forward currency contracts, are valued with prices furnished by independent pricing services or by broker-dealers.
Securities for which market quotations are not readily available, including in circumstances under which it is determined by the Advisor that prices received are not reflective of their market values, are valued by the Advisors Pricing Committee in accordance with the guidelines established by the Valuation Committee of the Companys Board of Directors (the Board, and each member thereof, a Director) and under the general oversight of the Board.
Fair value is defined as the price that a Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Funds disclose investments in their financial statements in a three-tier hierarchy. This hierarchy is utilized to establish classification of fair value measurements based on inputs. Inputs that go into fair value measurement refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entitys own assumptions about the inputs market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances.
The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
Level 1 quoted prices in active markets for identical investments.
Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3 significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investments assigned Level within the hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Level 1, Level 2, or Level 3.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.
Fair Value Measurements: Descriptions of the valuation techniques applied to the Funds major categories of assets and liabilities measured at fair value on a recurring basis are as follows:
Asset-backed securities (ABS) and mortgage-backed securities (MBS). The fair value of ABS and MBS is estimated based on pricing models that consider the estimated cash flows of each debt tranche of the issuer, establish a benchmark yield, and develop an estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche including, but not limited to, the prepayment speed assumptions and attributes of the collateral. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise, they would be categorized in Level 3.
Bank loans. The fair value of bank loans is estimated using recently executed transactions, market price quotations, credit/market events, and cross-asset pricing. Inputs are generally observable and are obtained from independent sources. Bank loans are generally categorized in Level 2 of the fair value hierarchy.
Corporate bonds. The fair value of corporate bonds is estimated using recently executed transactions, market price quotations (where observable), bond spreads, or credit default swap spreads adjusted for any basis difference between cash and derivative instruments. Corporate bonds are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, spreads, or any of the other aforementioned key inputs are unobservable, they are categorized in Level 3 of the hierarchy.
Credit default swaps. Credit default swaps are fair valued using pricing models that take into account, among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps would be categorized as Level 2; otherwise, the fair values would be categorized in Level 3.
Foreign currency contracts. The fair values of foreign currency contracts are derived from indices, reference rates, and other inputs or a combination of these factors. To the extent that these factors can be observed, foreign currency contracts are categorized in Level 2 of the fair value hierarchy.
Futures contracts. Futures contracts are generally valued at the settlement price established at the close of business each day by the exchange on which they are traded. They are categorized in Level 1.
Government and agency securities. Government and agency securities are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. Accordingly, government and agency securities are normally categorized in Level 1 or 2 of the fair value hierarchy depending on the liquidity and transparency of the market.
Interest rate swaps. Interest rate swaps are fair valued using pricing models that take into account among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps are categorized as Level 2; otherwise, the fair values are categorized in Level 3.
Money market funds. Money market funds are open-end mutual funds that invest in short-term debt securities. To the extent that these funds are valued based upon the reported NAV, they are categorized in Level 1 of the fair value hierarchy.
Municipal bonds. Municipal bonds are fair valued based on pricing models that take into account, among other factors, information received from market makers and broker-dealers, current trades, bid-wanted lists, offerings, market movements, the callability of the bond, state of issuance, benchmark yield curves, and bond insurance. To the extent that these inputs are observable and timely, the fair values of municipal bonds are categorized in Level 2; otherwise, the fair values are categorized in Level 3.
Restricted securities. Restricted securities, including illiquid Rule 144A securities, issued by non-public entities are included in Level 3 of the fair value hierarchy because they trade infrequently, and therefore the inputs are unobservable. Any other restricted securities valued similar to publicly traded securities may be categorized in Level 2 or 3 of the fair value hierarchy depending on whether a discount is applied and significant to the fair value.
Short-term investments. Short-term investments are valued using market price quotations, and are reflected in Level 1 or Level 2 of the fair value hierarchy.
Total return swaps. Total return swaps are fair valued using pricing models that take into account, among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps would be categorized as Level 2; otherwise, the fair values would be categorized in Level 3.
Warrants. Warrants are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded, and valuation adjustments are not applied, they are generally categorized in Level 1 of the fair value hierarchy.
The summary of the inputs used as of July 31, 2021 in valuing the Funds investments is listed after the Schedule of Investments for each Fund.
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
TCW Core Fixed Income Fund | TCW Emerging Markets Income Fund | TCW Global Bond Fund | TCW High Yield Bond Fund | TCW Total Return Bond Fund | ||||||||||||||||
Balance as of October 31, 2020 | $ | | $ | 15,730,569 | $ | 108,147 | $ | 37,325 | $ | 3,614,535 | ||||||||||
Accrued Discounts (Premiums) | (15,618 | ) | | 15,570 | 7,404 | (638,638 | ) | |||||||||||||
Realized Gain (Loss) | (1,927 | ) | | | 19,379 | 256,881 | ||||||||||||||
Change in Unrealized Appreciation (Depreciation) | 249,587 | 2,125,752 | (31,500 | ) | (2,988 | ) | (16,254 | ) | ||||||||||||
Purchases | 5,000,000 | | | 211,619 | 3,895 | |||||||||||||||
Sales | (238,078 | ) | | | (74,146 | ) | (272,993 | ) | ||||||||||||
Transfers in to Level 3 | 1,252,310 | (1) | | | | | ||||||||||||||
Transfers out of Level 3 | | | | | | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Balance as of July 31, 2021 | $ | 6,246,274 | $ | 17,856,321 | $ | 92,217 | $ | 198,593 | $ | 2,947,426 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at July 31, 2021 | $ | 249,587 | $ | 2,125,752 | $ | (31,500 | ) | $ | (3,557 | ) | $ | (16,905 | ) | |||||||
|
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|
|
|
|
|
|
|
(1) | Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs. |
Significant unobservable valuation inputs for Level 3 investments as of July 31, 2021 are as follows:
Description | Fair Value at July 31, 2021 | Valuation Techniques | Unobservable Input | Range | Average Weighted Price | |||||||||||||||
TCW Core Fixed Income Fund |
| |||||||||||||||||||
Corporate Bonds | $ | 1,278,614 | Third-party Vendor | Vendor Prices | $ | 94.500 | $ | 94.500 | ||||||||||||
Asset-Backed Securities | $ | 4,967,660 | Third-party Vendor | Vendor Prices | $ | 101.660 | $ | 101.660 | ||||||||||||
TCW Emerging Markets Income Fund |
| |||||||||||||||||||
Government Issues | $ | 17,856,321 | Third-party Vendor | Vendor Prices | $ | 10.500 | $ | 10.500 | ||||||||||||
TCW Global Bond Fund |
| |||||||||||||||||||
Residential Mortgage-Backed SecuritiesNon-Agency | $ | 92,217 | Third-party Vendor | Vendor Prices | $ | 7.367 | $ | 7.367 | ||||||||||||
TCW High Yield Bond Fund |
| |||||||||||||||||||
Corporate Bonds | $ | 198,593 | Third-party Vendor | Vendor Prices | $ | 94.500 | $ | 94.500 | ||||||||||||
TCW Total Return Bond Fund |
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Residential Mortgage-Backed SecuritiesNon-Agency | $ | 5,013 | Third-party Vendor | Vendor Prices | $ | 7.601 | $ | 7.601 | ||||||||||||
Residential Mortgage-Backed SecuritiesNon-Agency (Interest Only, Collateral Strip Rate Securities) | $ | 2,954,233 | Third-party Vendor | Vendor Prices | $ | 0.616 - $ 2.283 | $ | 1.526 |
Derivative Instruments: Derivatives are financial instruments which are valued based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. A derivative contract may result in a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. It is possible that a derivative transaction will result in a loss greater than the principal amount invested. The Funds may not be able to close out a derivative transaction at a favorable time or price.
For the period ended July 31, 2021, the following Funds had derivatives and transactions in derivatives, grouped in the following risk categories.
TCW Core Fixed Income Fund
Credit Risk | Commodity Risk | Foreign Currency Risk | Interest Rate Risk | Total | ||||||||||||||||
Asset Derivatives |
| |||||||||||||||||||
Investments(1) | $ | | $ | | $ | | $ | 422,077 | $ | 422,077 | ||||||||||
Swap Agreements | | | | 36,055 | 36,055 | |||||||||||||||
Futures Contracts(2) | | | | 190,210 | 190,210 | |||||||||||||||
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Total Value | $ | | $ | | $ | | $ | 648,342 | $ | 648,342 | ||||||||||
Liability Derivatives |
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Written Options | $ | | $ | | $ | | $ | (140,250 | ) | $ | (140,250 | ) | ||||||||
Swap Agreements | | | | (12,261 | ) | (12,261 | ) | |||||||||||||
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|
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Total Value | $ | | $ | | $ | | $ | (152,511 | ) | $ | (152,511 | ) | ||||||||
Number of Contracts or Notional Amounts(3) |
| |||||||||||||||||||
Options Purchased | $ | | $ | | $ | | $ | 7,855,000 | $ | 7,855,000 | ||||||||||
Futures Contracts | | | | 110 | 110 | |||||||||||||||
Swap Agreements | $ | | $ | | $ | | $ | 92,580,000 | $ | 92,580,000 | ||||||||||
Written Options | $ | | $ | | $ | | $ | 2,550,000 | $ | 2,550,000 | ||||||||||
TCW Emerging Markets Income Fund |
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Asset Derivatives |
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Swap Agreements | $ | 6,554,947 | $ | | $ | | $ | | $ | 6,554,947 | ||||||||||
Forward Contracts(2) | | | 1,263,297 | | 1,263,297 | |||||||||||||||
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Total Value | $ | 6,554,947 | $ | | $ | 1,263,297 | $ | | $ | 7,818,244 | ||||||||||
Liability Derivatives |
| |||||||||||||||||||
Swap Agreements | $ | (1,552,226 | )) | $ | | $ | | $ | | $ | (1,552,226 | ) | ||||||||
Futures Contracts(2) | | | | (2,600,163 | ) | (2,600,163 | ) | |||||||||||||
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| |||||||||||
Total Value | $ | (1,552,226 | )) | $ | | $ | | $ | (2,600,163 | ) | $ | (4,152,389 | ) | |||||||
Notional Amounts(3) |
| |||||||||||||||||||
Forward Currency Contracts | $ | | $ | | $ | 86,468,168 | $ | $ | 86,468,168 | |||||||||||
Swap Agreements | $ | 342,919,167 | $ | | $ | | $ | $ | 342,919,167 |
TCW Emerging Markets Local Currency Income Fund
Credit Risk | Commodity Risk | Foreign Currency Risk | Interest Rate Risk | Total | ||||||||||||||||
Asset Derivatives |
| |||||||||||||||||||
Forward Contracts | $ | | $ | | $ | 780,218 | $ | | $ | 780,218 | ||||||||||
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| |||||||||||
Total Value | $ | | $ | | $ | 780,218 | $ | | $ | 780,218 | ||||||||||
Liability Derivatives |
| |||||||||||||||||||
Forward Contracts | $ | | $ | | $ | (1,056,545 | ) | $ | | $ | (1,056,545 | ) | ||||||||
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|
| |||||||||||
Total Value | $ | | $ | | $ | (1,056,545 | ) | $ | | $ | (1,056,545 | ) | ||||||||
Notional Amounts(3) |
| |||||||||||||||||||
Forward Currency Contracts | $ | | $ | | $ | 93,579,081 | $ | | $ | 93,579,081 | ||||||||||
TCW Enhanced Commodity Strategy Fund |
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Asset Derivatives |
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Swap Agreements | $ | | $ | 30,758 | $ | | $ | | $ | 30,758 | ||||||||||
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|
| |||||||||||
Total Value | $ | | $ | 30,758 | $ | | $ | | $ | 30,758 | ||||||||||
Notional Amounts(3) | ||||||||||||||||||||
Swap Agreements | $ | | $ | 1,394,274 | $ | | $ | | $ | 1,394,274 | ||||||||||
TCW Global Bond Fund |
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Asset Derivatives |
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Futures Contracts | $ | | $ | | $ | | $ | 6,174 | $ | 6,174 | ||||||||||
Forward Contracts(2) | | | 83,769 | | 83,769 | |||||||||||||||
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| |||||||||||
Total Value | $ | | $ | | $ | 83,769 | $ | 6,174 | $ | 89,943 | ||||||||||
Liability Derivatives | ||||||||||||||||||||
Forward Contracts | $ | | $ | | $ | (101,216 | ) | $ | | $ | (101,216 | ) | ||||||||
Futures Contracts(2) | | | | (41,452 | ) | (41,452 | ) | |||||||||||||
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|
|
|
| |||||||||||
Total Value | $ | | $ | | $ | (101,216 | ) | $ | (41,452 | ) | $ | (142,668 | ) | |||||||
Number of Contracts or Notional Amounts(3) | ||||||||||||||||||||
Forward Currency Contracts | $ | | $ | | $ | 17,631,059 | $ | | $ | 17,631,059 | ||||||||||
Futures Contracts | | | | 16 | 16 |
TCW High Yield Bond Fund
Credit Risk | Commodity Risk | Foreign Currency Risk | Interest Rate Risk | Total | ||||||||||||||||
Asset Derivatives | ||||||||||||||||||||
Futures Contracts(2) | $ | | $ | | $ | | $ | 93 | $ | 93 | ||||||||||
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Total Value | $ | $ | $ | $ | 93 | $ | 93 | |||||||||||||
Liability Derivatives |
| |||||||||||||||||||
Futures Contracts(2) | $ | | $ | | $ | | $ | (87,791 | ) | $ | (87,791 | ) | ||||||||
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| |||||||||||
Total Value | $ | | $ | | $ | | $ | (87,791 | ) | $ | (87,791 | ) | ||||||||
Number of Contracts |
| |||||||||||||||||||
Futures Contracts | | | | 29 | 29 | |||||||||||||||
TCW Short Term Bond Fund |
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Asset Derivatives |
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Futures Contracts(2) | $ | | $ | | $ | | $ | 182 | $ | 182 | ||||||||||
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| |||||||||||
Total Value | $ | | $ | | $ | | $ | 182 | $ | 182 | ||||||||||
Liability Derivatives |
| |||||||||||||||||||
Futures Contracts(2) | $ | | $ | | $ | | $ | (19,325 | ) | $ | (19,325 | ) | ||||||||
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|
| |||||||||||
Total Value | $ | | $ | | $ | | $ | (19,325 | ) | $ | (19,325 | ) | ||||||||
Number of Contracts or Notional Amounts(3) |
| |||||||||||||||||||
Forward Currency Contracts | | | 216,731 | | 216,731 | |||||||||||||||
Futures Contracts | | | | 7 | 7 | |||||||||||||||
TCW Total Return Bond Fund |
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Asset Derivatives |
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Futures Contracts(2) | $ | | $ | | $ | | $ | 40,680,020 | $ | 40,680,020 | ||||||||||
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Total Value | $ | | $ | | $ | | $ | 40,680,020 | $ | 40,680,020 | ||||||||||
Number of Contracts or Notional Amounts(3) |
| |||||||||||||||||||
Forward Currency Contracts | $ | | $ | | $ | 169,278,156 | $ | | $ | 169,278,156 | ||||||||||
Futures Contracts | | | | 3,504 | 3,504 |
(1) | Represents purchased options or swaptions, at value. |
(2) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. |
(3) | Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the period ended July 31, 2021. |
Note 2 Portfolio Investments
Mortgage-Backed Securities: The Funds may invest in MBS which represent interests in pools of mortgages in which payments of both principal and interest on the securities are generally made monthly, in effect passing through monthly payments made by borrowers on the residential or commercial mortgage loans which underlie the securities (net of any fees paid to the issuer or guarantor of the securities). Mortgage pass-through securities differ from other forms of debt securities which normally provide for periodic payment of interest in fixed amounts with principal payments at maturity or specified call dates. The Funds may also invest in Collateralized Mortgage Obligations (CMOs). CMOs are debt obligations collateralized by residential or commercial mortgage loans or residential or commercial mortgage pass-through securities. Interest and principal are generally paid monthly. CMOs may be collateralized by whole mortgage loans or private mortgage pass-through securities but are more typically collateralized by portfolios of mortgage pass-through securities guaranteed by Ginnie Mae, Freddie Mac or Fannie Mae. The issuer of a series of CMOs may elect to be treated for tax purposes as a Real Estate Mortgage Investment Conduit. CMOs are structured into multiple classes, each bearing a different stated maturity. Monthly payment of principal received from the pool of underlying mortgages, including prepayments, is first returned to investors holding the shortest maturity class. Investors holding the longer maturity classes usually receive principal only after shorter classes have been retired. An investor may be partially protected against a sooner than desired return of principal because of the sequential payments. The Funds may invest in stripped MBS. Stripped MBS are usually structured with two classes that receive different proportions of the interest and principal distributions on a pool of mortgage assets. In certain cases, one class will receive all of the interest (the interest-only or IO class), while the other class will receive all of the principal (the principal only or PO class). The yield to maturity on IOs is sensitive to the rate of principal repayments (including prepayments) on the related underlying mortgage assets, and principal payments may have a material effect on yield to maturity. If the underlying mortgage assets experience greater than anticipated prepayments of principal, a Fund may not fully recoup its initial investment in IOs.
Inflation-Indexed Bonds: The Funds may invest in inflation-indexed bonds, which are fixed income securities whose principal value or coupon is periodically adjusted according to the rate of inflation. Any increase or decrease in the principal amount of an inflation-indexed bond will be included as interest income.
Inflation-indexed securities issued by the U.S. Treasury have maturities of five, ten, twenty, or thirty years, although it is possible that securities with other maturities will be issued in the future. The U.S. Treasury securities pay interest on a semi-annual basis, equal to a fixed percentage of the inflation-adjusted principal amount.
If the periodic adjustment rate measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds, even during a period of deflation. However, the current market value of the bonds is not guaranteed, and will fluctuate. The Funds may also invest in other inflation-related bonds which may or may not provide a similar guarantee. If a guarantee of principal is not provided, the adjusted principal value of the bond repaid at maturity may be less than the original principal.
The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates in turn are tied to the relationship between nominal interest rates and the rate of inflation. Therefore, if inflation were to rise at a faster rate than nominal interest rates, real interest rates might decline, leading to an increase in value of inflation-indexed bonds. In contrast, if nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-indexed bonds.
While the values of these securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to declines in values. If interest rates rise due to reasons other than inflation (for example, due to changes in currency exchange rates), investors in these securities may not be protected to the extent that the increase is not reflected in the bonds inflation measure.
When-Issued, Delayed-Delivery, To Be Announced (TBA) and Forward Commitment Transactions: The Funds may enter into when-issued, delayed-delivery, TBA or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of each Funds existing portfolio. In when-issued, delayed-delivery, TBA, or forward commitment transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date.
Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If a Funds counterparty fails to deliver a security purchased on a when-issued, delayed-delivery, TBA or forward commitment basis, there may be a loss, and the Fund may have missed an opportunity to make an alternative investment.
Prior to settlement of these transactions, the value of the subject securities will fluctuate with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery, TBA or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them.
Dollar Roll Transactions: The Funds may enter into dollar roll transactions with financial institutions to take advantage of opportunities in the MBS market. A dollar roll transaction involves a simultaneous sale of securities by a Fund with an agreement to repurchase substantially similar securities at an agreed upon price and date, but generally will be collateralized at time of delivery by different pools of mortgages with different prepayment histories than those securities sold. These transactions are accounted for as financing transactions as opposed to sales and purchases. The differential between the sale price and the repurchase price is recorded as deferred income and recognized between the settlement dates of the sale and repurchase. During the period between the sale and repurchase, a Fund will not be entitled to receive interest and principal payments on the securities sold. Dollar roll transactions involve risk that the market value of the security sold by a Fund may decline below the repurchase price of the security and the counterparties may potentially be unable to complete the transaction. There were no such transactions by the Funds for the period ended July 31, 2021.
Repurchase Agreements: The Funds may enter into repurchase agreements under the terms of a Master Repurchase Agreement (MRA). In a repurchase agreement, the Funds purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. The MRA permits each Fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from each Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterpartys bankruptcy or insolvency. Pursuant to the terms of the MRA, each Fund receives securities as collateral with a market value in excess of the repurchase price. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Funds obligation under bankruptcy law to return the excess to the counterparty. There were no repurchase agreements outstanding as of July 31, 2021.
Reverse Repurchase Agreements: The Funds may enter into reverse repurchase agreements. Under a reverse repurchase agreement, a Fund sells portfolio assets subject to an agreement by the Fund to repurchase the same assets at an agreed upon price and date. The Funds may utilize reverse repurchase agreements when it is anticipated that the interest income to be earned from the investment of the proceeds of the transaction is greater than the interest expense of the transaction. During the term of the reverse repurchase agreement, the Funds continue to receive the principal and interest payments on the securities sold. There were no reverse repurchase agreements outstanding during the period ended July 31, 2021.
Security Lending: The Funds may lend their securities to qualified brokers. The loans must be collateralized at all times primarily with cash although the Funds can accept money market instruments or U.S. Government securities with a market value at least equal to the market value of the securities on loan. As with any extensions of credit, the Funds may bear the risk of delay in recovery or even loss of rights in the collateral if the borrowers of the securities fail financially. The Funds earn additional income for lending their securities by investing the cash collateral in short-term investments. The Funds did not lend any securities during the period ended July 31, 2021.
Derivatives:
Forward Foreign Currency Contracts: The Funds enter into forward foreign currency contracts as a hedge against fluctuations in foreign exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in market value is recorded by the Funds as unrealized gains or losses in the Statement of Assets and Liabilities. When a contract is closed or delivery is taken, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the
time it was closed. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the U.S. dollar. Outstanding foreign currency forward contracts at July 31, 2021 are disclosed in the Schedule of Investments.
Futures Contracts: The Funds may enter into futures contracts. A Fund may seek to manage a variety of different risks through the use of futures contracts, such as interest rate risk, equity price risk, and currency risk. A Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made, and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk. Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by a Fund as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of a Fund that is the subject of the hedge. It may not always be possible for a Fund to enter into a closing transaction with respect to a futures contract it has entered into at a favorable time or price. When a Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it.
When a Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The TCW Core Fixed Income Fund, the TCW Emerging Markets Income Fund, the TCW Global Bond Fund, the TCW High Yield Bond Fund, the TCW Short Term Bond Fund and the TCW Total Return Bond Fund utilized futures during the period ended July 31, 2021 to help manage interest rate duration of those Funds. Futures contracts outstanding at July 31, 2021 are listed on the Schedule of Investments.
Options: The Funds may purchase and sell put and call options on a security or an index of securities to enhance investment performance and/or to protect against changes in market prices. The Funds may also enter into currency options to hedge against or to take advantage of currency fluctuations.
A call option gives the holder the right to purchase, and obligates the writer to sell, a security at the strike price at any time before the expiration date. A put option gives the holder the right to sell, and obligates the writer to buy, a security at the exercise price at any time before the expiration date. A Fund may purchase put options to protect portfolio holdings against a decline in market value of a security or securities held by it. A Fund may also purchase a put option hoping to profit from an anticipated decline in the value of the underlying security. If a Fund holds the security underlying the option, the option premium and any transaction costs will reduce any profit the Fund might have realized had it sold the underlying security instead of buying the put option. A Fund may purchase call options to hedge against an increase in the price of securities that the Fund ultimately wants to buy. A Fund may also purchase a call option as a long directional investment hoping to profit from an anticipated increase in the value of the underlying security. In order for a call option to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit a Fund might have realized had it bought the underlying security at the time it purchased the call option.
Purchasing foreign currency options gives a Fund the right, but not the obligation, to buy or sell specified amounts of currency at a rate of exchange that may be exercised by a certain date. These currency options may be used as a short or long hedge against possible variations in foreign exchange rates or to gain exposure to foreign currencies.
When a Fund purchases an option, it runs the risk that it will lose its entire investment in the option in a relatively short period of time, unless the Fund exercises the option or enters into a closing sale transaction before the options expiration. If the price of the underlying security does not rise (in the case of a call) or fall (in the case of a put) to an extent sufficient to cover the option premium and transaction costs, the Fund will lose part or all of its investment in the option. Premiums paid for purchasing options that expire are treated as realized losses.
Options purchased or sold by a Fund may be traded on a securities or options exchange. Such options typically have minimal exposure to counterparty risk. However, an exchange or market may at times find it necessary to impose restrictions on particular types of options transactions, such as opening transactions. If an underlying security ceases to meet qualifications imposed by an exchange or the Options Clearing Corporation, new series of options on that security will no longer be opened to replace the expiring series, and opening transactions in existing series may be prohibited.
OTC options are options not traded on exchanges or backed by clearinghouses. Rather, they are entered into directly between a Fund and the counterparty to the option. In the case of an OTC option purchased by a Fund, the value of the option to the Fund will depend on the willingness and ability of the option writer to perform its obligations to the Fund. In addition, OTC options may not be transferable and there may be little or no secondary market for them, so they may be considered illiquid. It may not be possible to enter into closing transactions with respect to OTC options or otherwise to terminate such options, and as a result a Fund may be required to remain obligated on an unfavorable OTC option until its expiration.
During the period ended July 31, 2021, the TCW Core Fixed Income Fund held purchased options, written options and swaptions.
Swap Agreements: The Funds may enter into swap agreements. Swap agreements are typically two-party contracts entered into primarily by institutional investors. In a standard swap transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest factor. The gross returns to be exchanged or swapped between the parties are generally calculated with respect to a notional amount (i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or in a basket of securities representing a particular index).
In a total return swap, one party typically agrees to pay to the other a short-term interest rate in return for a payment at one or more times in the future based on the increase in the value of an underlying security or other asset, or index of securities or assets; if the underlying security, asset, or index declines in value, the party that pays the short-term interest rate must also pay to its counterparty a payment based on the amount of the decline. A Fund may take either side of such a swap, and so may take a long or short position in the underlying security, asset, or index. A Fund may enter into a total return swap to hedge against an exposure in its portfolio such as interest rate risk (including to adjust the duration or credit quality of a Funds bond portfolio), equity risk, or credit risk or generally to put cash to work efficiently in the markets in anticipation of, or as a replacement for, cash investments. A Fund may also enter into a total return swap to gain exposure to securities or markets in which it might not be able to invest directly (in so-called market access transactions).
Interest rate swaps are agreements in which one party pays a floating rate of interest on a notional principal amount and receives a fixed rate of interest on the same notional principal amount for a specified period of time. Alternatively, a party may pay a fixed rate and receive a floating rate. In more complex swaps, the notional principal amount may decline (or amortize) over time. A Funds maximum risk of loss due to counterparty default is the discounted NAV of the cash flows paid to/received from the counterparty over the interest rate swaps remaining life.
A Fund may enter into credit default swap transactions as a buyer or seller of credit protection. In a credit default swap, one party provides what is in effect insurance against a default or other adverse credit event affecting an issuer of debt securities (typically referred to as a reference entity). In general, the buyer of credit protection is obligated to pay the protection seller an upfront amount or a periodic stream of payments over the term of the swap. If a credit event occurs, the buyer has the right to deliver to the seller bonds (or other obligations of the reference entity with a value up to the full notional value of the swap), and to receive a payment equal to the par value of the bonds or other obligations. Credit events that would trigger a request that the seller make payment are specific to each credit default swap agreement, but generally include bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. When a Fund buys protection, it may or may not own securities of the reference entity. When a Fund sells protection under a credit default swap, the position may have the effect of creating leverage in the Funds portfolio through the Funds indirect long exposure to the issuer or securities on which the swap is written. When a Fund sells protection, it may do so either to earn additional income or to create such a synthetic long position.
Whenever a Fund enters into a swap agreement, it takes on counterparty risk the risk that its counterparty will be unable or unwilling to meet its obligations under the swap agreement. A Fund also takes the risk that the market will move against its position in the swap agreement. In the case of a total return swap, the swap will change in value depending on the change in value of the asset or index on which the swap is written. When a Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and a Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.
During the term of a swap transaction, changes in the value of the swap are recognized as unrealized gains or losses by marking-to-market to reflect the market value of the swap. When the swap is terminated, a Fund will record a realized gain or loss equal to the difference, if any, between the proceeds from (or cost of) the closing transaction and the Funds basis in the agreement. Upfront swap premium payments paid or received by a Fund, if any, are recorded within the value of the open swap agreement on the Funds Statement of Assets and Liabilities and represent payments paid or received upon entering into the swap agreement to compensate for differences between stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, and other relevant factors). These upfront payments are recorded as realized gains or losses on each Funds Statement of Operations upon termination or maturity of the swap agreement.
During the term of a swap transaction, the periodic net payments can be made for a set period of time or may be triggered by a predetermined credit event. The net periodic payments may be based on a fixed or variable interest rate, the change in market value of a specified security, basket of securities or index, or the return generated by a security. These periodic payments received or made by the Funds are recorded as realized gains and losses, respectively. During the period ended July 31, 2021, the TCW Core Fixed Income Fund entered into interest rate swaps to manage duration, the yield curve or interest rate risk by economically hedging the value of the fixed rate bonds which may decrease when interest rates rise (interest rate risk); the TCW Emerging Markets Income Fund used credit default swaps to limit certain credit exposure within the Fund; and the TCW Enhanced Commodity Strategy Fund used total return swap agreements to gain exposure to the commodity market.
Note 3 Restricted Securities
The Funds are permitted to invest in securities that have legal or contractual restrictions on resale. These securities may be sold privately, but are required to be registered before being sold to the public (exemption rules apply). Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended (the Securities Act). However, the Company considers 144A securities to be restricted if those securities have been deemed illiquid. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Restricted securities held by the Funds at July 31, 2021 are listed below:
TCW Core Fixed Income Fund
Issuer Description | Acquisition Date | Acquisition Cost | Aggregate Value | Percentage of Net Assets | ||||||||||||
Ruby Pipeline LLC, 8.00%, due 04/01/22 | 4/4/13 | $ | 1,367,138 | $ | 1,278,614 | 0.07 | % | |||||||||
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TCW Enhanced Commodity Strategy Fund | ||||||||||||||||
Issuer Description | Acquisition Date | Acquisition Cost | Aggregate Value | Percentage of Net Assets | ||||||||||||
LB-UBS Commercial Mortgage Trust (06-C6 XCL) (I/O), 0.78%, due 09/15/39 | 7/15/16 | $ | 919 | $ | 326 | 0.02 | % | |||||||||
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TCW Global Bond Fund | ||||||||||||||||
Issuer Description | Acquisition Date | Acquisition Cost | Aggregate Value | of Net Assets | ||||||||||||
Bank of America-First Union NB Commercial Mortgage | 3/26/15 | $ | 0 | $ | 11,284 | 0.03 | % | |||||||||
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TCW High Yield Bond Fund | ||||||||||||||||
Issuer Description | Acquisition Date | Acquisition Cost | Aggregate Value | Percentage of Net Assets | ||||||||||||
Ruby Pipeline LLC, 8.00%, due 04/01/22 | 2/11/21-2/17/21 | $ | 200,161 | $ | 198,593 | 0.17 | % | |||||||||
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TCW Short Term Bond Fund | ||||||||||||||||
Issuer Description | Acquisition Date | Acquisition Cost | Aggregate Value | Percentage of Net Assets | ||||||||||||
UBS Commercial Mortgage Trust (12-C1-XA) (I/O), 2.24%, due 05/10/45 | 4/6/20 | $ | 8,149 | $ | 1,541 | 0.02 | % | |||||||||
WFRBS Commercial Mortgage Trust (12-C8-XA) (I/O), 1.78%, due 08/15/45 | 3/31/21 | 9,348 | 5,478 | 0.06 | % | |||||||||||
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$ | 17,497 | $ | 7,019 | 0.08 | % | |||||||||||
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