UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07989

TCW Metropolitan West Funds

(Exact name of registrant as specified in charter)

515 South Flower Street, Los Angeles, CA 90071

(Address of principal executive offices)

Peter Davidson, Esq.

Vice President and Secretary

515 South Flower Street

Los Angeles, CA 90071

(Name and address of agent for service)

Registrant’s telephone number, including area code: (213) 244-0000

Date of fiscal year end: March 31

Date of reporting period: March 31, 2026

Item 1. Reports to Shareholders.

(a) The following is a copy of the reports transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the “1940 Act”):

TCW MetWest High Yield Bond Fund

Class I: MWHIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest High Yield Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$62	0.60%

How did the Fund perform last year and what affected its performance?

Excluding the impact of fees, underperformance relative to the Bloomberg U.S. Corporate High Yield Index was driven primarily by issue selection. Holdings within the communications sector produced the largest headwind as media entertainment issuers faced volatile merger & acquisition headlines and borrowers in the cable/satellite industry contended with restructuring challenges. Issue selection among consumer non-cyclical industries further detracted from performance, particularly within healthcare, where rising medical costs and ongoing challenges related to Medicaid reimbursement pressured results across the industry. The Fund's position in an underperforming automotive parts supplier created additional drag on the Fund's performance. Later in the period, technology issuers also came under pressure given fears of artificial intelligence-related obsolescence, further weighing on relative returns. Favorable issue selection among recycled metal and glass packaging names, however, helped modestly offset the Fund's negative overall issue selection. Meanwhile, sector allocation decisions were additive given a focus on sectors that traditionally withstand cyclical volatility like communications and consumer non-cyclicals, both of which outperformed the Index. Finally, a dynamic allocation to the energy sector contributed to relative returns as the initial underweight helped insulate returns from the spread widening early in the period, before the subsequent shift to an overweight benefitted Fund returns given robust sector performance alongside rising energy prices.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Universal Bond Index	Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap
03/2016	$10,000	$10,000	$10,000
04/2016	$10,173	$10,068	$10,392
05/2016	$10,238	$10,076	$10,456
06/2016	$10,285	$10,253	$10,552
07/2016	$10,388	$10,338	$10,837
08/2016	$10,536	$10,349	$11,064
09/2016	$10,582	$10,351	$11,138
10/2016	$10,613	$10,283	$11,181
11/2016	$10,584	$10,052	$11,128
12/2016	$10,725	$10,082	$11,333
01/2017	$10,806	$10,117	$11,497
02/2017	$10,928	$10,195	$11,665
03/2017	$10,962	$10,192	$11,639
04/2017	$11,041	$10,276	$11,773
05/2017	$11,134	$10,356	$11,875
06/2017	$11,167	$10,347	$11,891
07/2017	$11,259	$10,398	$12,023
08/2017	$11,281	$10,488	$12,018
09/2017	$11,347	$10,451	$12,126
10/2017	$11,380	$10,464	$12,177
11/2017	$11,379	$10,448	$12,146
12/2017	$11,408	$10,494	$12,183
01/2018	$11,446	$10,393	$12,256
02/2018	$11,364	$10,294	$12,152
03/2018	$11,320	$10,346	$12,079
04/2018	$11,359	$10,277	$12,157
05/2018	$11,367	$10,333	$12,154
06/2018	$11,386	$10,318	$12,203
07/2018	$11,440	$10,340	$12,336
08/2018	$11,495	$10,391	$12,427
09/2018	$11,549	$10,346	$12,496
10/2018	$11,447	$10,260	$12,296
11/2018	$11,441	$10,306	$12,190
12/2018	$11,303	$10,467	$11,929
01/2019	$11,743	$10,612	$12,468
02/2019	$11,884	$10,623	$12,676
03/2019	$11,968	$10,815	$12,795
04/2019	$12,140	$10,830	$12,977
05/2019	$12,139	$10,996	$12,823
06/2019	$12,359	$11,151	$13,115
07/2019	$12,430	$11,185	$13,189
08/2019	$12,488	$11,438	$13,242
09/2019	$12,518	$11,388	$13,290
10/2019	$12,573	$11,425	$13,327
11/2019	$12,563	$11,423	$13,370
12/2019	$12,721	$11,440	$13,637
01/2020	$12,764	$11,645	$13,641
02/2020	$12,755	$11,819	$13,449
03/2020	$11,991	$11,588	$11,908
04/2020	$12,574	$11,821	$12,447
05/2020	$12,933	$11,931	$12,991
06/2020	$13,031	$12,031	$13,115
07/2020	$13,547	$12,242	$13,725
08/2020	$13,656	$12,171	$13,857
09/2020	$13,543	$12,149	$13,715
10/2020	$13,601	$12,106	$13,783
11/2020	$14,012	$12,264	$14,329
12/2020	$14,213	$12,306	$14,599
01/2021	$14,268	$12,229	$14,647
02/2021	$14,266	$12,071	$14,701
03/2021	$14,216	$11,931	$14,723
04/2021	$14,353	$12,031	$14,883
05/2021	$14,399	$12,077	$14,927
06/2021	$14,537	$12,165	$15,126
07/2021	$14,567	$12,287	$15,183
08/2021	$14,641	$12,279	$15,262
09/2021	$14,695	$12,174	$15,261
10/2021	$14,645	$12,164	$15,233
11/2021	$14,498	$12,179	$15,084
12/2021	$14,726	$12,171	$15,366
01/2022	$14,364	$11,904	$14,947
02/2022	$14,163	$11,741	$14,794
03/2022	$14,053	$11,426	$14,626
04/2022	$13,547	$11,000	$14,106
05/2022	$13,468	$11,061	$14,139
06/2022	$12,665	$10,840	$13,187
07/2022	$13,395	$11,112	$13,964
08/2022	$13,185	$10,823	$13,643
09/2022	$12,603	$10,357	$13,102
10/2022	$12,883	$10,243	$13,442
11/2022	$13,093	$10,625	$13,733
12/2022	$13,071	$10,589	$13,648
01/2023	$13,548	$10,918	$14,168
02/2023	$13,333	$10,649	$13,987
03/2023	$13,495	$10,899	$14,135
04/2023	$13,594	$10,966	$14,277
05/2023	$13,476	$10,852	$14,146
06/2023	$13,623	$10,835	$14,383
07/2023	$13,791	$10,846	$14,582
08/2023	$13,794	$10,781	$14,624
09/2023	$13,643	$10,524	$14,449
10/2023	$13,481	$10,365	$14,280
11/2023	$14,023	$10,832	$14,926
12/2023	$14,509	$11,243	$15,483
01/2024	$14,562	$11,216	$15,482
02/2024	$14,593	$11,082	$15,528
03/2024	$14,713	$11,190	$15,711
04/2024	$14,561	$10,929	$15,564
05/2024	$14,741	$11,110	$15,735
06/2024	$14,870	$11,212	$15,883
07/2024	$15,098	$11,466	$16,192
08/2024	$15,323	$11,635	$16,456
09/2024	$15,499	$11,794	$16,722
10/2024	$15,407	$11,527	$16,632
11/2024	$15,543	$11,648	$16,823
12/2024	$15,460	$11,472	$16,752
01/2025	$15,612	$11,541	$16,980
02/2025	$15,723	$11,780	$17,094
03/2025	$15,643	$11,777	$16,920
04/2025	$15,646	$11,819	$16,916
05/2025	$15,872	$11,759	$17,200
06/2025	$16,134	$11,942	$17,517
07/2025	$16,199	$11,925	$17,596
08/2025	$16,296	$12,068	$17,816
09/2025	$16,379	$12,196	$17,961
10/2025	$16,392	$12,277	$17,989
11/2025	$16,448	$12,351	$18,093
12/2025	$16,514	$12,342	$18,196
01/2026	$16,615	$12,361	$18,288
02/2026	$16,593	$12,549	$18,322
03/2026	$16,484	$12,324	$18,106

This performance line graph shows the performance of a hypothetical $10,000 investment in the class of shares noted over a ten year period, as compared to the performance of Bloomberg U.S. Universal Bond Index and Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap. Performance for other share classes will vary. The graph does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The graph assumes reinvestment of dividends and capital gains. The Fund's past performance is not a good predictor of the Fund's future performance.

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	5.37%	3.00%	5.12%
Bloomberg U.S. Universal Bond Index	4.64%	0.65%	2.11%
Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap	7.01%	4.22%	6.12%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$384,129,264
• # of Portfolio Holdings322
• Portfolio Turnover Rate100%
• Total Advisory Fees Paid - Net$1,942,493

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	89.8%
Bank Loans	6.1%
Short-Term Investments	1.8%
Common Stock	0.5%
Convertible Corporate Bonds	0.1%
Warrants	0.0%Footnote Reference1
Other Assets in Excess of Liabilities	1.7%

Footnote	Description
Footnote1	Less than 0.01%

Top Ten Holdings (as a % of Net Assets)

Table Summary

Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, due 05/15/27	1.3%
TransDigm, Inc., 6.38%, due 03/01/29	1.1%
Jane Street Group/JSG Finance, Inc., 6.13%, due 11/01/32	1.1%
1261229 BC Ltd., 10.00%, due 04/15/32	1.0%
CSC Holdings LLC, 6.50%, due 02/01/29	0.9%
PNC Financial Services Group, Inc., 3.40%, due 09/15/26 (5 yr. CMT + 2.595%)	0.9%
American Electric Power Co., Inc., 6.05%, due 03/15/56 (5 yr. CMT + 1.940%)	0.9%
Sunoco LP, 7.88%, due 09/18/30 (5 yr. CMT + 4.230%)	0.8%
Discovery Global Holdings, Inc., 5.05%, due 03/15/42	0.8%
CCO Holdings LLC/CCO Holdings Capital Corp., 7.00%, due 02/01/33	0.8%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest High Yield Bond Fund

Annual Shareholder Report — March 31, 2026

Class I: MWHIX

TSR MWHIX-0326

TCW MetWest High Yield Bond Fund

Class M: MWHYX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest High Yield Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$87	0.85%

How did the Fund perform last year and what affected its performance?

Excluding the impact of fees, underperformance relative to the Bloomberg U.S. Corporate High Yield Index was driven primarily by issue selection. Holdings within the communications sector produced the largest headwind as media entertainment issuers faced volatile merger & acquisition headlines and borrowers in the cable/satellite industry contended with restructuring challenges. Issue selection among consumer non-cyclical industries further detracted from performance, particularly within healthcare, where rising medical costs and ongoing challenges related to Medicaid reimbursement pressured results across the industry. The Fund's position in an underperforming automotive parts supplier created additional drag on the Fund's performance. Later in the period, technology issuers also came under pressure given fears of artificial intelligence-related obsolescence, further weighing on relative returns. Favorable issue selection among recycled metal and glass packaging names, however, helped modestly offset the Fund's negative overall issue selection. Meanwhile, sector allocation decisions were additive given a focus on sectors that traditionally withstand cyclical volatility like communications and consumer non-cyclicals, both of which outperformed the Index. Finally, a dynamic allocation to the energy sector contributed to relative returns as the initial underweight helped insulate returns from the spread widening early in the period, before the subsequent shift to an overweight benefitted Fund returns given robust sector performance alongside rising energy prices.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Universal Bond Index	Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap
03/2016	$10,000	$10,000	$10,000
04/2016	$10,181	$10,068	$10,392
05/2016	$10,234	$10,076	$10,456
06/2016	$10,279	$10,253	$10,552
07/2016	$10,379	$10,338	$10,837
08/2016	$10,525	$10,349	$11,064
09/2016	$10,569	$10,351	$11,138
10/2016	$10,608	$10,283	$11,181
11/2016	$10,577	$10,052	$11,128
12/2016	$10,705	$10,082	$11,333
01/2017	$10,783	$10,117	$11,497
02/2017	$10,903	$10,195	$11,665
03/2017	$10,935	$10,192	$11,639
04/2017	$11,023	$10,276	$11,773
05/2017	$11,102	$10,356	$11,875
06/2017	$11,132	$10,347	$11,891
07/2017	$11,221	$10,398	$12,023
08/2017	$11,241	$10,488	$12,018
09/2017	$11,304	$10,451	$12,126
10/2017	$11,335	$10,464	$12,177
11/2017	$11,332	$10,448	$12,146
12/2017	$11,370	$10,494	$12,183
01/2018	$11,393	$10,393	$12,256
02/2018	$11,310	$10,294	$12,152
03/2018	$11,264	$10,346	$12,079
04/2018	$11,312	$10,277	$12,157
05/2018	$11,306	$10,333	$12,154
06/2018	$11,322	$10,318	$12,203
07/2018	$11,374	$10,340	$12,336
08/2018	$11,426	$10,391	$12,427
09/2018	$11,478	$10,346	$12,496
10/2018	$11,385	$10,260	$12,296
11/2018	$11,377	$10,306	$12,190
12/2018	$11,225	$10,467	$11,929
01/2019	$11,661	$10,612	$12,468
02/2019	$11,798	$10,623	$12,676
03/2019	$11,892	$10,815	$12,795
04/2019	$12,047	$10,830	$12,977
05/2019	$12,056	$10,996	$12,823
06/2019	$12,259	$11,151	$13,115
07/2019	$12,340	$11,185	$13,189
08/2019	$12,382	$11,438	$13,242
09/2019	$12,409	$11,388	$13,290
10/2019	$12,461	$11,425	$13,327
11/2019	$12,449	$11,423	$13,370
12/2019	$12,603	$11,440	$13,637
01/2020	$12,656	$11,645	$13,641
02/2020	$12,631	$11,819	$13,449
03/2020	$11,885	$11,588	$11,908
04/2020	$12,460	$11,821	$12,447
05/2020	$12,813	$11,931	$12,991
06/2020	$12,907	$12,031	$13,115
07/2020	$13,402	$12,242	$13,725
08/2020	$13,519	$12,171	$13,857
09/2020	$13,392	$12,149	$13,715
10/2020	$13,446	$12,106	$13,783
11/2020	$13,863	$12,264	$14,329
12/2020	$14,046	$12,306	$14,599
01/2021	$14,097	$12,229	$14,647
02/2021	$14,093	$12,071	$14,701
03/2021	$14,040	$11,931	$14,723
04/2021	$14,186	$12,031	$14,883
05/2021	$14,228	$12,077	$14,927
06/2021	$14,348	$12,165	$15,126
07/2021	$14,389	$12,287	$15,183
08/2021	$14,458	$12,279	$15,262
09/2021	$14,509	$12,174	$15,261
10/2021	$14,443	$12,164	$15,233
11/2021	$14,295	$12,179	$15,084
12/2021	$14,517	$12,171	$15,366
01/2022	$14,157	$11,904	$14,947
02/2022	$13,956	$11,741	$14,794
03/2022	$13,858	$11,426	$14,626
04/2022	$13,357	$11,000	$14,106
05/2022	$13,262	$11,061	$14,139
06/2022	$12,469	$10,840	$13,187
07/2022	$13,199	$11,112	$13,964
08/2022	$12,976	$10,823	$13,643
09/2022	$12,401	$10,357	$13,102
10/2022	$12,673	$10,243	$13,442
11/2022	$12,891	$10,625	$13,733
12/2022	$12,867	$10,589	$13,648
01/2023	$13,319	$10,918	$14,168
02/2023	$13,105	$10,649	$13,987
03/2023	$13,261	$10,899	$14,135
04/2023	$13,371	$10,966	$14,277
05/2023	$13,237	$10,852	$14,146
06/2023	$13,379	$10,835	$14,383
07/2023	$13,541	$10,846	$14,582
08/2023	$13,557	$10,781	$14,624
09/2023	$13,406	$10,524	$14,449
10/2023	$13,244	$10,365	$14,280
11/2023	$13,758	$10,832	$14,926
12/2023	$14,247	$11,243	$15,483
01/2024	$14,296	$11,216	$15,482
02/2024	$14,308	$11,082	$15,528
03/2024	$14,423	$11,190	$15,711
04/2024	$14,271	$10,929	$15,564
05/2024	$14,444	$11,110	$15,735
06/2024	$14,567	$11,212	$15,883
07/2024	$14,804	$11,466	$16,192
08/2024	$15,021	$11,635	$16,456
09/2024	$15,175	$11,794	$16,722
10/2024	$15,097	$11,527	$16,632
11/2024	$15,211	$11,648	$16,823
12/2024	$15,126	$11,472	$16,752
01/2025	$15,272	$11,541	$16,980
02/2025	$15,378	$11,780	$17,094
03/2025	$15,296	$11,777	$16,920
04/2025	$15,296	$11,819	$16,916
05/2025	$15,514	$11,759	$17,200
06/2025	$15,766	$11,942	$17,517
07/2025	$15,844	$11,925	$17,596
08/2025	$15,919	$12,068	$17,816
09/2025	$15,996	$12,196	$17,961
10/2025	$16,005	$12,277	$17,989
11/2025	$16,074	$12,351	$18,093
12/2025	$16,117	$12,342	$18,196
01/2026	$16,213	$12,361	$18,288
02/2026	$16,206	$12,549	$18,322
03/2026	$16,096	$12,324	$18,106

This performance line graph shows the performance of a hypothetical $10,000 investment in the class of shares noted over a ten year period, as compared to the performance of Bloomberg U.S. Universal Bond Index and Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap. Performance for other share classes will vary. The graph does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The graph assumes reinvestment of dividends and capital gains. The Fund's past performance is not a good predictor of the Fund's future performance.

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	5.23%	2.77%	4.87%
Bloomberg U.S. Universal Bond Index	4.64%	0.65%	2.11%
Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap	7.01%	4.22%	6.12%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$384,129,264
• # of Portfolio Holdings322
• Portfolio Turnover Rate100%
• Total Advisory Fees Paid - Net$1,942,493

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	89.8%
Bank Loans	6.1%
Short-Term Investments	1.8%
Common Stock	0.5%
Convertible Corporate Bonds	0.1%
Warrants	0.0%Footnote Reference1
Other Assets in Excess of Liabilities	1.7%

Footnote	Description
Footnote1	Less than 0.01%

Top Ten Holdings (as a % of Net Assets)

Table Summary

Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, due 05/15/27	1.3%
TransDigm, Inc., 6.38%, due 03/01/29	1.1%
Jane Street Group/JSG Finance, Inc., 6.13%, due 11/01/32	1.1%
1261229 BC Ltd., 10.00%, due 04/15/32	1.0%
CSC Holdings LLC, 6.50%, due 02/01/29	0.9%
PNC Financial Services Group, Inc., 3.40%, due 09/15/26 (5 yr. CMT + 2.595%)	0.9%
American Electric Power Co., Inc., 6.05%, due 03/15/56 (5 yr. CMT + 1.940%)	0.9%
Sunoco LP, 7.88%, due 09/18/30 (5 yr. CMT + 4.230%)	0.8%
Discovery Global Holdings, Inc., 5.05%, due 03/15/42	0.8%
CCO Holdings LLC/CCO Holdings Capital Corp., 7.00%, due 02/01/33	0.8%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest High Yield Bond Fund

Annual Shareholder Report — March 31, 2026

Class M: MWHYX

TSR MWHYX-0326

TCW MetWest High Yield Bond Fund

Class I-3: MWHZX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest High Yield Bond Fund (the "Fund") for the period of August 26, 2025 (commencement of operations) to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I-3	$45Footnote Reference+	0.76%Footnote Reference*

Footnote	Description
Footnote*	Annualized.
Footnote+	The dollar amounts above reflect expenses paid since the commencement of operations. Expenses for the full reporting period would be higher.

How did the Fund perform last year and what affected its performance?

Excluding the impact of fees, underperformance relative to the Bloomberg U.S. Corporate High Yield Index was driven primarily by issue selection. Holdings within the communications sector produced the largest headwind as media entertainment issuers faced volatile merger & acquisition headlines and borrowers in the cable/satellite industry contended with restructuring challenges. Issue selection among consumer non-cyclical industries further detracted from performance, particularly within healthcare, where rising medical costs and ongoing challenges related to Medicaid reimbursement pressured results across the industry. The Fund's position in an underperforming automotive parts supplier created additional drag on the Fund's performance. Later in the period, technology issuers also came under pressure given fears of artificial intelligence-related obsolescence, further weighing on relative returns. Favorable issue selection among recycled metal and glass packaging names, however, helped modestly offset the Fund's negative overall issue selection. Meanwhile, sector allocation decisions were additive given a focus on sectors that traditionally withstand cyclical volatility like communications and consumer non-cyclicals, both of which outperformed the Index. Finally, a dynamic allocation to the energy sector contributed to relative returns as the initial underweight helped insulate returns from the spread widening early in the period, before the subsequent shift to an overweight benefitted Fund returns given robust sector performance alongside rising energy prices.

Fund Performance

Table Summary

	Class I-3	Bloomberg U.S. Universal Bond Index	Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap
08/26/2025	$10,000	$10,000	$10,000
08/2025	$10,019	$10,120	$10,125
09/2025	$10,069	$10,227	$10,208
10/2025	$10,079	$10,295	$10,224
11/2025	$10,114	$10,357	$10,283
12/2025	$10,144	$10,350	$10,341
01/2026	$10,204	$10,365	$10,394
02/2026	$10,204	$10,523	$10,413
03/2026	$10,133	$10,335	$10,290

This performance line graph shows the performance of a hypothetical $10,000 investment in the class of shares noted over a ten year period, as compared to the performance of Bloomberg U.S. Universal Bond Index and Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap. Performance for other share classes will vary. The graph does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The graph assumes reinvestment of dividends and capital gains. The Fund's past performance is not a good predictor of the Fund's future performance.

Average Annual Total Returns (%)

Table Summary

Name	Since Inception 08/26/25
Class I-3	1.33%
Bloomberg U.S. Universal Bond Index	2.20%
Bloomberg U.S. Corporate High Yield Index 2% Issuer Cap	7.26%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$384,129,264
• # of Portfolio Holdings322
• Portfolio Turnover Rate100%
• Total Advisory Fees Paid - Net$1,942,493

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	89.8%
Bank Loans	6.1%
Short-Term Investments	1.8%
Common Stock	0.5%
Convertible Corporate Bonds	0.1%
Warrants	0.0%Footnote Reference1
Other Assets in Excess of Liabilities	1.7%

Footnote	Description
Footnote1	Less than 0.01%

Top Ten Holdings (as a % of Net Assets)

Table Summary

Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, due 05/15/27	1.3%
TransDigm, Inc., 6.38%, due 03/01/29	1.1%
Jane Street Group/JSG Finance, Inc., 6.13%, due 11/01/32	1.1%
1261229 BC Ltd., 10.00%, due 04/15/32	1.0%
CSC Holdings LLC, 6.50%, due 02/01/29	0.9%
PNC Financial Services Group, Inc., 3.40%, due 09/15/26 (5 yr. CMT + 2.595%)	0.9%
American Electric Power Co., Inc., 6.05%, due 03/15/56 (5 yr. CMT + 1.940%)	0.9%
Sunoco LP, 7.88%, due 09/18/30 (5 yr. CMT + 4.230%)	0.8%
Discovery Global Holdings, Inc., 5.05%, due 03/15/42	0.8%
CCO Holdings LLC/CCO Holdings Capital Corp., 7.00%, due 02/01/33	0.8%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest High Yield Bond Fund

Annual Shareholder Report — March 31, 2026

Class I-3: MWHZX

TSR MWHZX-0326

TCW MetWest Investment Grade Credit Fund

Class I: MWIGX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Investment Grade Credit Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$50	0.49%

How did the Fund perform last year and what affected its performance?

Outperformance relative to the Bloomberg U.S. Intermediate Credit Index was driven by the out-of-benchmark exposure to securitized sectors, a position that was informed by relative value considerations given generally more attractive spread levels versus traditional credit.  Agency mortgage-backed securities (MBS) drove the largest of the securitized impacts as it was among the best-performing fixed income sectors on a duration-adjusted basis, supported by moderating rate volatility and falling risk premiums. Similarly, a position in non-agency commercial mortgage-backed securities (CMBS) contributed given a focus on single-asset, single-borrower (SASB) issues that benefitted from strong sponsorship and investor demand for transparent collateral. Meanwhile, corporate credit was modestly underweight relative to the Index before turning to neutral later in the period, resulting in muted sector allocation impacts, though a more pronounced underweight to non-corporate credit was maintained.  This positioning weighed on relative returns as the cohort registered positive excess returns versus comparable Treasuries, particularly USD-denominated emerging market sovereign issues as spreads tightened and valuations improved.  Finally, the overweight duration position and emphasis on the front-end of the yield curve produced a tailwind as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Intermediate Credit Index
06/29/2018	$10,000	$10,000	$10,000
06/30/2018	$10,000	$10,000	$10,000
07/31/2018	$10,141	$10,002	$10,037
08/31/2018	$10,361	$10,067	$10,097
09/30/2018	$10,367	$10,002	$10,073
10/31/2018	$10,364	$9,923	$10,031
11/30/2018	$10,399	$9,982	$10,038
12/31/2018	$10,528	$10,165	$10,148
01/31/2019	$10,668	$10,273	$10,310
02/28/2019	$10,733	$10,267	$10,346
03/31/2019	$10,920	$10,465	$10,508
04/30/2019	$10,978	$10,467	$10,554
05/31/2019	$11,111	$10,653	$10,665
06/30/2019	$11,290	$10,787	$10,823
07/31/2019	$11,280	$10,811	$10,845
08/31/2019	$11,501	$11,091	$11,032
09/30/2019	$11,489	$11,032	$11,007
10/31/2019	$11,561	$11,065	$11,070
11/30/2019	$11,541	$11,059	$11,072
12/31/2019	$11,574	$11,052	$11,115
01/31/2020	$11,762	$11,264	$11,274
02/29/2020	$11,928	$11,467	$11,389
03/31/2020	$11,467	$11,400	$10,853
04/30/2020	$11,789	$11,602	$11,226
05/31/2020	$11,914	$11,656	$11,415
06/30/2020	$12,111	$11,730	$11,577
07/31/2020	$12,262	$11,905	$11,738
08/31/2020	$12,308	$11,809	$11,737
09/30/2020	$12,329	$11,802	$11,721
10/31/2020	$12,343	$11,750	$11,722
11/30/2020	$12,516	$11,865	$11,846
12/31/2020	$12,538	$11,881	$11,902
01/31/2021	$12,548	$11,796	$11,861
02/28/2021	$12,505	$11,626	$11,765
03/31/2021	$12,407	$11,480	$11,655
04/30/2021	$12,488	$11,571	$11,735
05/31/2021	$12,537	$11,609	$11,798
06/30/2021	$12,589	$11,691	$11,837
07/31/2021	$12,670	$11,821	$11,927
08/31/2021	$12,663	$11,799	$11,908
09/30/2021	$12,613	$11,697	$11,845
10/31/2021	$12,520	$11,693	$11,781
11/30/2021	$12,505	$11,728	$11,768
12/31/2021	$12,488	$11,698	$11,780
01/31/2022	$12,271	$11,446	$11,568
02/28/2022	$12,126	$11,318	$11,450
03/31/2022	$11,759	$11,004	$11,183
04/30/2022	$11,457	$10,586	$10,879
05/31/2022	$11,567	$10,655	$10,973
06/30/2022	$11,327	$10,487	$10,776
07/31/2022	$11,572	$10,744	$11,013
08/31/2022	$11,323	$10,440	$10,792
09/30/2022	$10,905	$9,989	$10,445
10/31/2022	$10,835	$9,860	$10,402
11/30/2022	$11,187	$10,222	$10,717
12/31/2022	$11,152	$10,176	$10,708
01/31/2023	$11,488	$10,489	$10,961
02/28/2023	$11,239	$10,218	$10,752
03/31/2023	$11,520	$10,477	$10,973
04/30/2023	$11,611	$10,541	$11,055
05/31/2023	$11,487	$10,426	$10,972
06/30/2023	$11,455	$10,389	$10,944
07/31/2023	$11,500	$10,382	$11,002
08/31/2023	$11,497	$10,315	$10,988
09/30/2023	$11,309	$10,053	$10,843
10/31/2023	$11,200	$9,895	$10,768
11/30/2023	$11,664	$10,343	$11,147
12/31/2023	$12,007	$10,739	$11,451
01/31/2024	$12,069	$10,709	$11,472
02/29/2024	$11,896	$10,558	$11,371
03/31/2024	$12,007	$10,655	$11,473
04/30/2024	$11,790	$10,386	$11,320
05/31/2024	$11,979	$10,562	$11,475
06/30/2024	$12,089	$10,662	$11,557
07/31/2024	$12,357	$10,911	$11,785
08/31/2024	$12,530	$11,068	$11,935
09/30/2024	$12,714	$11,216	$12,086
10/31/2024	$12,462	$10,938	$11,899
11/30/2024	$12,583	$11,054	$11,998
12/31/2024	$12,465	$10,873	$11,910
01/31/2025	$12,541	$10,931	$11,984
02/28/2025	$12,743	$11,171	$12,149
03/31/2025	$12,787	$11,175	$12,186
04/30/2025	$12,880	$11,219	$12,266
05/31/2025	$12,879	$11,139	$12,280
06/30/2025	$13,074	$11,310	$12,440
07/31/2025	$13,066	$11,280	$12,452
08/31/2025	$13,236	$11,415	$12,600
09/30/2025	$13,341	$11,540	$12,686
10/31/2025	$13,386	$11,612	$12,737
11/30/2025	$13,483	$11,684	$12,824
12/31/2025	$13,499	$11,667	$12,848
01/31/2026	$13,541	$11,679	$12,875
02/28/2026	$13,671	$11,870	$13,005
03/31/2026	$13,481	$11,661	$12,826

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	Since Inception 06/29/18
Class I	5.43%	1.68%	3.93%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	3.97%
Bloomberg U.S. Intermediate Credit Index	5.25%	1.93%	3.26%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$25,700,823
• # of Portfolio Holdings442
• Portfolio Turnover Rate305%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	67.7%
Residential Mortgage-Backed Securities - Agency	13.4%
U.S. Treasury Securities	9.2%
Commercial Mortgage-Backed Securities - Non-Agency	7.8%
Residential Mortgage-Backed Securities - Non-Agency	5.0%
Short-Term Investments	3.7%
Asset-Backed Securities	2.3%
Foreign Government Bonds	0.6%
Other Security TypesFootnote Reference*	0.5%
Liabilities in Excess of Other Assets	(10.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	4.1%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.4%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.9%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.8%
Federal National Mortgage Association, 4.50%, due 02/01/53	1.6%
Bank of America Corp., 2.30%, due 07/21/32 (1 day USD SOFR + 1.220%)	1.5%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	1.5%
JPMorgan Chase & Co., 1.95%, due 02/04/32 (1 day USD SOFR + 1.065%)	1.3%
Wells Fargo & Co., 3.35%, due 03/02/33 (1 day USD SOFR + 1.500%)	1.1%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.0%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Investment Grade Credit Fund

Annual Shareholder Report — March 31, 2026

Class I: MWIGX

TSR MWIGX-0326

TCW MetWest Investment Grade Credit Fund

Class M: MWISX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Investment Grade Credit Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$72	0.70%

How did the Fund perform last year and what affected its performance?

Outperformance relative to the Bloomberg U.S. Intermediate Credit Index was driven by the out-of-benchmark exposure to securitized sectors, a position that was informed by relative value considerations given generally more attractive spread levels versus traditional credit.  Agency mortgage-backed securities (MBS) drove the largest of the securitized impacts as it was among the best-performing fixed income sectors on a duration-adjusted basis, supported by moderating rate volatility and falling risk premiums. Similarly, a position in non-agency commercial mortgage-backed securities (CMBS) contributed given a focus on single-asset, single-borrower (SASB) issues that benefitted from strong sponsorship and investor demand for transparent collateral. Meanwhile, corporate credit was modestly underweight relative to the Index before turning to neutral later in the period, resulting in muted sector allocation impacts, though a more pronounced underweight to non-corporate credit was maintained.  This positioning weighed on relative returns as the cohort registered positive excess returns versus comparable Treasuries, particularly USD-denominated emerging market sovereign issues as spreads tightened and valuations improved.  Finally, the overweight duration position and emphasis on the front-end of the yield curve produced a tailwind as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Intermediate Credit Index
06/29/2018	$10,000	$10,000	$10,000
06/30/2018	$10,000	$10,000	$10,000
07/31/2018	$10,139	$10,002	$10,037
08/31/2018	$10,357	$10,067	$10,097
09/30/2018	$10,361	$10,002	$10,073
10/31/2018	$10,356	$9,923	$10,031
11/30/2018	$10,390	$9,982	$10,038
12/31/2018	$10,517	$10,165	$10,148
01/31/2019	$10,654	$10,273	$10,310
02/28/2019	$10,718	$10,267	$10,346
03/31/2019	$10,902	$10,465	$10,508
04/30/2019	$10,959	$10,467	$10,554
05/31/2019	$11,090	$10,653	$10,665
06/30/2019	$11,267	$10,787	$10,823
07/31/2019	$11,255	$10,811	$10,845
08/31/2019	$11,473	$11,091	$11,032
09/30/2019	$11,459	$11,032	$11,007
10/31/2019	$11,528	$11,065	$11,070
11/30/2019	$11,507	$11,059	$11,072
12/31/2019	$11,537	$11,052	$11,115
01/31/2020	$11,723	$11,264	$11,274
02/29/2020	$11,886	$11,467	$11,389
03/31/2020	$11,425	$11,400	$10,853
04/30/2020	$11,744	$11,602	$11,226
05/31/2020	$11,867	$11,656	$11,415
06/30/2020	$12,061	$11,730	$11,577
07/31/2020	$12,209	$11,905	$11,738
08/31/2020	$12,252	$11,809	$11,737
09/30/2020	$12,271	$11,802	$11,721
10/31/2020	$12,283	$11,750	$11,722
11/30/2020	$12,453	$11,865	$11,846
12/31/2020	$12,473	$11,881	$11,902
01/31/2021	$12,480	$11,796	$11,861
02/28/2021	$12,435	$11,626	$11,765
03/31/2021	$12,335	$11,480	$11,655
04/30/2021	$12,414	$11,571	$11,735
05/31/2021	$12,461	$11,609	$11,798
06/30/2021	$12,511	$11,691	$11,837
07/31/2021	$12,588	$11,821	$11,927
08/31/2021	$12,579	$11,799	$11,908
09/30/2021	$12,527	$11,697	$11,845
10/31/2021	$12,433	$11,693	$11,781
11/30/2021	$12,416	$11,728	$11,768
12/31/2021	$12,397	$11,698	$11,780
01/31/2022	$12,179	$11,446	$11,568
02/28/2022	$12,034	$11,318	$11,450
03/31/2022	$11,667	$11,004	$11,183
04/30/2022	$11,365	$10,586	$10,879
05/31/2022	$11,472	$10,655	$10,973
06/30/2022	$11,232	$10,487	$10,776
07/31/2022	$11,473	$10,744	$11,013
08/31/2022	$11,224	$10,440	$10,792
09/30/2022	$10,808	$9,989	$10,445
10/31/2022	$10,737	$9,860	$10,402
11/30/2022	$11,084	$10,222	$10,717
12/31/2022	$11,047	$10,176	$10,708
01/31/2023	$11,379	$10,489	$10,961
02/28/2023	$11,130	$10,218	$10,752
03/31/2023	$11,406	$10,477	$10,973
04/30/2023	$11,495	$10,541	$11,055
05/31/2023	$11,369	$10,426	$10,972
06/30/2023	$11,336	$10,389	$10,944
07/31/2023	$11,379	$10,382	$11,002
08/31/2023	$11,373	$10,315	$10,988
09/30/2023	$11,201	$10,053	$10,843
10/31/2023	$11,075	$9,895	$10,768
11/30/2023	$11,533	$10,343	$11,147
12/31/2023	$11,885	$10,739	$11,451
01/31/2024	$11,929	$10,709	$11,472
02/29/2024	$11,756	$10,558	$11,371
03/31/2024	$11,863	$10,655	$11,473
04/30/2024	$11,647	$10,386	$11,320
05/31/2024	$11,831	$10,562	$11,475
06/30/2024	$11,938	$10,662	$11,557
07/31/2024	$12,201	$10,911	$11,785
08/31/2024	$12,369	$11,068	$11,935
09/30/2024	$12,548	$11,216	$12,086
10/31/2024	$12,298	$10,938	$11,899
11/30/2024	$12,415	$11,054	$11,998
12/31/2024	$12,296	$10,873	$11,910
01/31/2025	$12,369	$10,931	$11,984
02/28/2025	$12,567	$11,171	$12,149
03/31/2025	$12,608	$11,175	$12,186
04/30/2025	$12,698	$11,219	$12,266
05/31/2025	$12,694	$11,139	$12,280
06/30/2025	$12,884	$11,310	$12,440
07/31/2025	$12,874	$11,280	$12,452
08/31/2025	$13,039	$11,415	$12,600
09/30/2025	$13,140	$11,540	$12,686
10/31/2025	$13,183	$11,612	$12,737
11/30/2025	$13,276	$11,684	$12,824
12/31/2025	$13,289	$11,667	$12,848
01/31/2026	$13,328	$11,679	$12,875
02/28/2026	$13,453	$11,870	$13,005
03/31/2026	$13,265	$11,661	$12,826

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	Since Inception 06/29/18
Class M	5.21%	1.46%	3.71%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	3.97%
Bloomberg U.S. Intermediate Credit Index	5.25%	1.93%	3.26%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$25,700,823
• # of Portfolio Holdings442
• Portfolio Turnover Rate305%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	67.7%
Residential Mortgage-Backed Securities - Agency	13.4%
U.S. Treasury Securities	9.2%
Commercial Mortgage-Backed Securities - Non-Agency	7.8%
Residential Mortgage-Backed Securities - Non-Agency	5.0%
Short-Term Investments	3.7%
Asset-Backed Securities	2.3%
Foreign Government Bonds	0.6%
Other Security TypesFootnote Reference*	0.5%
Liabilities in Excess of Other Assets	(10.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	4.1%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.4%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.9%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.8%
Federal National Mortgage Association, 4.50%, due 02/01/53	1.6%
Bank of America Corp., 2.30%, due 07/21/32 (1 day USD SOFR + 1.220%)	1.5%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	1.5%
JPMorgan Chase & Co., 1.95%, due 02/04/32 (1 day USD SOFR + 1.065%)	1.3%
Wells Fargo & Co., 3.35%, due 03/02/33 (1 day USD SOFR + 1.500%)	1.1%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.0%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Investment Grade Credit Fund

Annual Shareholder Report — March 31, 2026

Class M: MWISX

TSR MWISX-0326

TCW MetWest Low Duration Bond Fund

Class I: MWLIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Low Duration Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$42	0.41%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the ICE BofA 1-3 Year U.S. Treasury Index was largely supported by residential mortgage-backed securities (MBS), including the allocation to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Non-agency MBS positions were also significant to outperformance, with allocations to legacy issues backed by subprime collateral contributing the most, though both newer vintage “2.0” collateral also benefitted from compelling yields and strong carry. Further contributions came from additional allocations across securitized credit, with CMBS focused on single asset single borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral, and asset backed securities (ABS) given diversified exposure across non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-3 Year U.S. Treasury Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,023	$10,038	$10,004
05/2016	$10,036	$10,041	$9,993
06/2016	$10,070	$10,221	$10,053
07/2016	$10,082	$10,286	$10,047
08/2016	$10,084	$10,274	$10,030
09/2016	$10,107	$10,268	$10,042
10/2016	$10,107	$10,190	$10,035
11/2016	$10,084	$9,949	$9,996
12/2016	$10,102	$9,963	$9,999
01/2017	$10,124	$9,982	$10,011
02/2017	$10,134	$10,049	$10,021
03/2017	$10,147	$10,044	$10,025
04/2017	$10,170	$10,122	$10,038
05/2017	$10,184	$10,199	$10,050
06/2017	$10,196	$10,189	$10,042
07/2017	$10,222	$10,233	$10,063
08/2017	$10,247	$10,325	$10,082
09/2017	$10,237	$10,276	$10,066
10/2017	$10,239	$10,282	$10,060
11/2017	$10,230	$10,268	$10,039
12/2017	$10,238	$10,316	$10,041
01/2018	$10,218	$10,197	$10,012
02/2018	$10,210	$10,100	$10,008
03/2018	$10,228	$10,165	$10,028
04/2018	$10,211	$10,089	$10,012
05/2018	$10,255	$10,161	$10,048
06/2018	$10,251	$10,149	$10,050
07/2018	$10,247	$10,151	$10,049
08/2018	$10,281	$10,216	$10,081
09/2018	$10,277	$10,151	$10,069
10/2018	$10,275	$10,070	$10,085
11/2018	$10,298	$10,131	$10,120
12/2018	$10,383	$10,317	$10,200
01/2019	$10,444	$10,426	$10,227
02/2019	$10,455	$10,420	$10,237
03/2019	$10,538	$10,620	$10,300
04/2019	$10,574	$10,623	$10,321
05/2019	$10,647	$10,812	$10,394
06/2019	$10,707	$10,947	$10,448
07/2019	$10,706	$10,971	$10,436
08/2019	$10,779	$11,256	$10,520
09/2019	$10,777	$11,196	$10,508
10/2019	$10,826	$11,230	$10,543
11/2019	$10,822	$11,224	$10,540
12/2019	$10,843	$11,216	$10,562
01/2020	$10,902	$11,432	$10,619
02/2020	$10,971	$11,638	$10,712
03/2020	$10,763	$11,569	$10,858
04/2020	$10,905	$11,775	$10,863
05/2020	$10,984	$11,830	$10,870
06/2020	$11,061	$11,904	$10,873
07/2020	$11,124	$12,082	$10,884
08/2020	$11,137	$11,984	$10,881
09/2020	$11,148	$11,978	$10,884
10/2020	$11,148	$11,924	$10,880
11/2020	$11,196	$12,041	$10,885
12/2020	$11,221	$12,058	$10,890
01/2021	$11,236	$11,971	$10,891
02/2021	$11,234	$11,799	$10,883
03/2021	$11,207	$11,651	$10,885
04/2021	$11,241	$11,743	$10,890
05/2021	$11,251	$11,782	$10,898
06/2021	$11,248	$11,864	$10,881
07/2021	$11,281	$11,997	$10,899
08/2021	$11,277	$11,974	$10,898
09/2021	$11,288	$11,871	$10,887
10/2021	$11,260	$11,867	$10,854
11/2021	$11,244	$11,902	$10,856
12/2021	$11,229	$11,872	$10,829
01/2022	$11,164	$11,616	$10,758
02/2022	$11,098	$11,487	$10,718
03/2022	$10,945	$11,168	$10,575
04/2022	$10,819	$10,744	$10,525
05/2022	$10,862	$10,813	$10,583
06/2022	$10,752	$10,643	$10,522
07/2022	$10,864	$10,903	$10,558
08/2022	$10,772	$10,595	$10,481
09/2022	$10,565	$10,138	$10,358
10/2022	$10,492	$10,006	$10,348
11/2022	$10,627	$10,374	$10,413
12/2022	$10,671	$10,327	$10,434
01/2023	$10,862	$10,645	$10,506
02/2023	$10,725	$10,370	$10,430
03/2023	$10,905	$10,633	$10,596
04/2023	$10,942	$10,698	$10,624
05/2023	$10,888	$10,581	$10,587
06/2023	$10,845	$10,544	$10,536
07/2023	$10,910	$10,536	$10,573
08/2023	$10,938	$10,469	$10,615
09/2023	$10,869	$10,203	$10,614
10/2023	$10,856	$10,042	$10,650
11/2023	$11,085	$10,497	$10,758
12/2023	$11,288	$10,898	$10,878
01/2024	$11,358	$10,868	$10,920
02/2024	$11,287	$10,715	$10,875
03/2024	$11,344	$10,814	$10,910
04/2024	$11,264	$10,541	$10,875
05/2024	$11,363	$10,719	$10,950
06/2024	$11,449	$10,821	$11,013
07/2024	$11,633	$11,074	$11,139
08/2024	$11,759	$11,233	$11,239
09/2024	$11,879	$11,383	$11,329
10/2024	$11,746	$11,101	$11,263
11/2024	$11,814	$11,218	$11,296
12/2024	$11,817	$11,035	$11,322
01/2025	$11,873	$11,093	$11,371
02/2025	$12,002	$11,337	$11,449
03/2025	$12,043	$11,342	$11,503
04/2025	$12,123	$11,386	$11,593
05/2025	$12,131	$11,305	$11,569
06/2025	$12,229	$11,478	$11,638
07/2025	$12,220	$11,448	$11,632
08/2025	$12,348	$11,585	$11,732
09/2025	$12,407	$11,711	$11,768
10/2025	$12,437	$11,785	$11,807
11/2025	$12,493	$11,858	$11,862
12/2025	$12,559	$11,840	$11,899
01/2026	$12,608	$11,853	$11,924
02/2026	$12,671	$12,047	$11,987
03/2026	$12,586	$11,835	$11,934

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	4.51%	2.35%	2.33%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA 1-3 Year U.S. Treasury Index	3.75%	1.86%	1.78%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$918,552,616
• # of Portfolio Holdings527
• Portfolio Turnover Rate489%
• Total Advisory Fees Paid - Net$2,399,987

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	28.8%
U.S. Treasury Securities	21.5%
Residential Mortgage-Backed Securities - Agency	20.8%
Asset-Backed Securities	15.7%
Residential Mortgage-Backed Securities - Non-Agency	10.0%
Commercial Mortgage-Backed Securities - Non-Agency	6.9%
Short-Term Investments	4.8%
Foreign Government Bonds	1.6%
Other Security TypesFootnote Reference*	2.1%
Liabilities in Excess of Other Assets	(12.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	19.5%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.1%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.5%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.3%
Wells Fargo & Co., 5.57%, due 07/25/29 (1 day USD SOFR + 1.740%)	1.3%
Federal National Mortgage Association, 4.50%, due 11/01/52	1.3%
Government National Mortgage Association REMICS, Class FB, 4.82%, due 09/20/54 (30 day USD SOFR Average + 1.150%)	1.2%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 04/15/40	1.2%
HSBC Holdings PLC (United Kingdom), 2.01%, due 09/22/28 (1 day USD SOFR + 1.732%)	1.2%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Low Duration Bond Fund

Annual Shareholder Report — March 31, 2026

Class I: MWLIX

TSR MWLIX-0326

TCW MetWest Low Duration Bond Fund

Class M: MWLDX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Low Duration Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$64	0.63%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the ICE BofA 1-3 Year U.S. Treasury Index was largely supported by residential mortgage-backed securities (MBS), including the allocation to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Non-agency MBS positions were also significant to outperformance, with allocations to legacy issues backed by subprime collateral contributing the most, though both newer vintage “2.0” collateral also benefitted from compelling yields and strong carry. Further contributions came from additional allocations across securitized credit, with CMBS focused on single asset single borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral, and asset backed securities (ABS) given diversified exposure across non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-3 Year U.S. Treasury Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,009	$10,038	$10,004
05/2016	$10,021	$10,041	$9,993
06/2016	$10,064	$10,221	$10,053
07/2016	$10,074	$10,286	$10,047
08/2016	$10,074	$10,274	$10,030
09/2016	$10,083	$10,268	$10,042
10/2016	$10,093	$10,190	$10,035
11/2016	$10,068	$9,949	$9,996
12/2016	$10,084	$9,963	$9,999
01/2017	$10,093	$9,982	$10,011
02/2017	$10,114	$10,049	$10,021
03/2017	$10,125	$10,044	$10,025
04/2017	$10,147	$10,122	$10,038
05/2017	$10,159	$10,199	$10,050
06/2017	$10,170	$10,189	$10,042
07/2017	$10,182	$10,233	$10,063
08/2017	$10,205	$10,325	$10,082
09/2017	$10,204	$10,276	$10,066
10/2017	$10,205	$10,282	$10,060
11/2017	$10,193	$10,268	$10,039
12/2017	$10,199	$10,316	$10,041
01/2018	$10,178	$10,197	$10,012
02/2018	$10,168	$10,100	$10,008
03/2018	$10,173	$10,165	$10,028
04/2018	$10,166	$10,089	$10,012
05/2018	$10,208	$10,161	$10,048
06/2018	$10,202	$10,149	$10,050
07/2018	$10,197	$10,151	$10,049
08/2018	$10,228	$10,216	$10,081
09/2018	$10,210	$10,151	$10,069
10/2018	$10,218	$10,070	$10,085
11/2018	$10,239	$10,131	$10,120
12/2018	$10,322	$10,317	$10,200
01/2019	$10,368	$10,426	$10,227
02/2019	$10,389	$10,420	$10,237
03/2019	$10,471	$10,620	$10,300
04/2019	$10,493	$10,623	$10,321
05/2019	$10,576	$10,812	$10,394
06/2019	$10,634	$10,947	$10,448
07/2019	$10,619	$10,971	$10,436
08/2019	$10,702	$11,256	$10,520
09/2019	$10,698	$11,196	$10,508
10/2019	$10,744	$11,230	$10,543
11/2019	$10,739	$11,224	$10,540
12/2019	$10,758	$11,216	$10,562
01/2020	$10,814	$11,432	$10,619
02/2020	$10,882	$11,638	$10,712
03/2020	$10,674	$11,569	$10,858
04/2020	$10,812	$11,775	$10,863
05/2020	$10,876	$11,830	$10,870
06/2020	$10,963	$11,904	$10,873
07/2020	$11,011	$12,082	$10,884
08/2020	$11,034	$11,984	$10,881
09/2020	$11,044	$11,978	$10,884
10/2020	$11,042	$11,924	$10,880
11/2020	$11,075	$12,041	$10,885
12/2020	$11,110	$12,058	$10,890
01/2021	$11,123	$11,971	$10,891
02/2021	$11,107	$11,799	$10,883
03/2021	$11,091	$11,651	$10,885
04/2021	$11,123	$11,743	$10,890
05/2021	$11,131	$11,782	$10,898
06/2021	$11,126	$11,864	$10,881
07/2021	$11,144	$11,997	$10,899
08/2021	$11,151	$11,974	$10,898
09/2021	$11,147	$11,871	$10,887
10/2021	$11,130	$11,867	$10,854
11/2021	$11,112	$11,902	$10,856
12/2021	$11,096	$11,872	$10,829
01/2022	$11,017	$11,616	$10,758
02/2022	$10,963	$11,487	$10,718
03/2022	$10,797	$11,168	$10,575
04/2022	$10,683	$10,744	$10,525
05/2022	$10,724	$10,813	$10,583
06/2022	$10,613	$10,643	$10,522
07/2022	$10,722	$10,903	$10,558
08/2022	$10,630	$10,595	$10,481
09/2022	$10,424	$10,138	$10,358
10/2022	$10,350	$10,006	$10,348
11/2022	$10,481	$10,374	$10,413
12/2022	$10,523	$10,327	$10,434
01/2023	$10,709	$10,645	$10,506
02/2023	$10,572	$10,370	$10,430
03/2023	$10,747	$10,633	$10,596
04/2023	$10,781	$10,698	$10,624
05/2023	$10,726	$10,581	$10,587
06/2023	$10,683	$10,544	$10,536
07/2023	$10,745	$10,536	$10,573
08/2023	$10,771	$10,469	$10,615
09/2023	$10,701	$10,203	$10,614
10/2023	$10,686	$10,042	$10,650
11/2023	$10,910	$10,497	$10,758
12/2023	$11,109	$10,898	$10,878
01/2024	$11,175	$10,868	$10,920
02/2024	$11,103	$10,715	$10,875
03/2024	$11,157	$10,814	$10,910
04/2024	$11,077	$10,541	$10,875
05/2024	$11,172	$10,719	$10,950
06/2024	$11,255	$10,821	$11,013
07/2024	$11,434	$11,074	$11,139
08/2024	$11,556	$11,233	$11,239
09/2024	$11,673	$11,383	$11,329
10/2024	$11,540	$11,101	$11,263
11/2024	$11,605	$11,218	$11,296
12/2024	$11,606	$11,035	$11,322
01/2025	$11,659	$11,093	$11,371
02/2025	$11,784	$11,337	$11,449
03/2025	$11,822	$11,342	$11,503
04/2025	$11,899	$11,386	$11,593
05/2025	$11,905	$11,305	$11,569
06/2025	$11,999	$11,478	$11,638
07/2025	$11,989	$11,448	$11,632
08/2025	$12,113	$11,585	$11,732
09/2025	$12,169	$11,711	$11,768
10/2025	$12,195	$11,785	$11,807
11/2025	$12,248	$11,858	$11,862
12/2025	$12,310	$11,840	$11,899
01/2026	$12,355	$11,853	$11,924
02/2026	$12,414	$12,047	$11,987
03/2026	$12,328	$11,835	$11,934

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	4.28%	2.14%	2.12%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA 1-3 Year U.S. Treasury Index	3.75%	1.86%	1.78%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$918,552,616
• # of Portfolio Holdings527
• Portfolio Turnover Rate489%
• Total Advisory Fees Paid - Net$2,399,987

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	28.8%
U.S. Treasury Securities	21.5%
Residential Mortgage-Backed Securities - Agency	20.8%
Asset-Backed Securities	15.7%
Residential Mortgage-Backed Securities - Non-Agency	10.0%
Commercial Mortgage-Backed Securities - Non-Agency	6.9%
Short-Term Investments	4.8%
Foreign Government Bonds	1.6%
Other Security TypesFootnote Reference*	2.1%
Liabilities in Excess of Other Assets	(12.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	19.5%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.1%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.5%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.3%
Wells Fargo & Co., 5.57%, due 07/25/29 (1 day USD SOFR + 1.740%)	1.3%
Federal National Mortgage Association, 4.50%, due 11/01/52	1.3%
Government National Mortgage Association REMICS, Class FB, 4.82%, due 09/20/54 (30 day USD SOFR Average + 1.150%)	1.2%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 04/15/40	1.2%
HSBC Holdings PLC (United Kingdom), 2.01%, due 09/22/28 (1 day USD SOFR + 1.732%)	1.2%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Low Duration Bond Fund

Annual Shareholder Report — March 31, 2026

Class M: MWLDX

TSR MWLDX-0326

TCW MetWest Low Duration Bond Fund

Administrative Class: MWLNX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Low Duration Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Administrative Class	$83	0.81%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the ICE BofA 1-3 Year U.S. Treasury Index was largely supported by residential mortgage-backed securities (MBS), including the allocation to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Non-agency MBS positions were also significant to outperformance, with allocations to legacy issues backed by subprime collateral contributing the most, though both newer vintage “2.0” collateral also benefitted from compelling yields and strong carry. Further contributions came from additional allocations across securitized credit, with CMBS focused on single asset single borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral, and asset backed securities (ABS) given diversified exposure across non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Administrative Class	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-3 Year U.S. Treasury Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,017	$10,038	$10,004
05/2016	$10,028	$10,041	$9,993
06/2016	$10,062	$10,221	$10,053
07/2016	$10,072	$10,286	$10,047
08/2016	$10,073	$10,274	$10,030
09/2016	$10,091	$10,268	$10,042
10/2016	$10,090	$10,190	$10,035
11/2016	$10,063	$9,949	$9,996
12/2016	$10,077	$9,963	$9,999
01/2017	$10,094	$9,982	$10,011
02/2017	$10,112	$10,049	$10,021
03/2017	$10,122	$10,044	$10,025
04/2017	$10,140	$10,122	$10,038
05/2017	$10,151	$10,199	$10,050
06/2017	$10,161	$10,189	$10,042
07/2017	$10,172	$10,233	$10,063
08/2017	$10,201	$10,325	$10,082
09/2017	$10,193	$10,276	$10,066
10/2017	$10,187	$10,282	$10,060
11/2017	$10,180	$10,268	$10,039
12/2017	$10,178	$10,316	$10,041
01/2018	$10,164	$10,197	$10,012
02/2018	$10,149	$10,100	$10,008
03/2018	$10,165	$10,165	$10,028
04/2018	$10,154	$10,089	$10,012
05/2018	$10,189	$10,161	$10,048
06/2018	$10,179	$10,149	$10,050
07/2018	$10,178	$10,151	$10,049
08/2018	$10,205	$10,216	$10,081
09/2018	$10,195	$10,151	$10,069
10/2018	$10,196	$10,070	$10,085
11/2018	$10,216	$10,131	$10,120
12/2018	$10,302	$10,317	$10,200
01/2019	$10,352	$10,426	$10,227
02/2019	$10,362	$10,420	$10,237
03/2019	$10,438	$10,620	$10,300
04/2019	$10,468	$10,623	$10,321
05/2019	$10,545	$10,812	$10,394
06/2019	$10,603	$10,947	$10,448
07/2019	$10,586	$10,971	$10,436
08/2019	$10,672	$11,256	$10,520
09/2019	$10,664	$11,196	$10,508
10/2019	$10,703	$11,230	$10,543
11/2019	$10,693	$11,224	$10,540
12/2019	$10,711	$11,216	$10,562
01/2020	$10,777	$11,432	$10,619
02/2020	$10,841	$11,638	$10,712
03/2020	$10,635	$11,569	$10,858
04/2020	$10,773	$11,775	$10,863
05/2020	$10,835	$11,830	$10,870
06/2020	$10,913	$11,904	$10,873
07/2020	$10,971	$12,082	$10,884
08/2020	$10,980	$11,984	$10,881
09/2020	$10,989	$11,978	$10,884
10/2020	$10,998	$11,924	$10,880
11/2020	$11,034	$12,041	$10,885
12/2020	$11,063	$12,058	$10,890
01/2021	$11,074	$11,971	$10,891
02/2021	$11,063	$11,799	$10,883
03/2021	$11,042	$11,651	$10,885
04/2021	$11,068	$11,743	$10,890
05/2021	$11,074	$11,782	$10,898
06/2021	$11,071	$11,864	$10,881
07/2021	$11,096	$11,997	$10,899
08/2021	$11,091	$11,974	$10,898
09/2021	$11,089	$11,871	$10,887
10/2021	$11,068	$11,867	$10,854
11/2021	$11,045	$11,902	$10,856
12/2021	$11,034	$11,872	$10,829
01/2022	$10,954	$11,616	$10,758
02/2022	$10,895	$11,487	$10,718
03/2022	$10,739	$11,168	$10,575
04/2022	$10,615	$10,744	$10,525
05/2022	$10,658	$10,813	$10,583
06/2022	$10,547	$10,643	$10,522
07/2022	$10,654	$10,903	$10,558
08/2022	$10,567	$10,595	$10,481
09/2022	$10,354	$10,138	$10,358
10/2022	$10,274	$10,006	$10,348
11/2022	$10,413	$10,374	$10,413
12/2022	$10,455	$10,327	$10,434
01/2023	$10,635	$10,645	$10,506
02/2023	$10,507	$10,370	$10,430
03/2023	$10,678	$10,633	$10,596
04/2023	$10,722	$10,698	$10,624
05/2023	$10,657	$10,581	$10,587
06/2023	$10,613	$10,544	$10,536
07/2023	$10,670	$10,536	$10,573
08/2023	$10,697	$10,469	$10,615
09/2023	$10,630	$10,203	$10,614
10/2023	$10,607	$10,042	$10,650
11/2023	$10,838	$10,497	$10,758
12/2023	$11,040	$10,898	$10,878
01/2024	$11,089	$10,868	$10,920
02/2024	$11,030	$10,715	$10,875
03/2024	$11,080	$10,814	$10,910
04/2024	$10,995	$10,541	$10,875
05/2024	$11,087	$10,719	$10,950
06/2024	$11,170	$10,821	$11,013
07/2024	$11,348	$11,074	$11,139
08/2024	$11,471	$11,233	$11,239
09/2024	$11,578	$11,383	$11,329
10/2024	$11,453	$11,101	$11,263
11/2024	$11,513	$11,218	$11,296
12/2024	$11,513	$11,035	$11,322
01/2025	$11,571	$11,093	$11,371
02/2025	$11,687	$11,337	$11,449
03/2025	$11,724	$11,342	$11,503
04/2025	$11,812	$11,386	$11,593
05/2025	$11,804	$11,305	$11,569
06/2025	$11,895	$11,478	$11,638
07/2025	$11,893	$11,448	$11,632
08/2025	$12,007	$11,585	$11,732
09/2025	$12,056	$11,711	$11,768
10/2025	$12,084	$11,785	$11,807
11/2025	$12,131	$11,858	$11,862
12/2025	$12,190	$11,840	$11,899
01/2026	$12,230	$11,853	$11,924
02/2026	$12,291	$12,047	$11,987
03/2026	$12,208	$11,835	$11,934

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Administrative Class	4.13%	2.03%	2.02%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA 1-3 Year U.S. Treasury Index	3.75%	1.86%	1.78%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$918,552,616
• # of Portfolio Holdings527
• Portfolio Turnover Rate489%
• Total Advisory Fees Paid - Net$2,399,987

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	28.8%
U.S. Treasury Securities	21.5%
Residential Mortgage-Backed Securities - Agency	20.8%
Asset-Backed Securities	15.7%
Residential Mortgage-Backed Securities - Non-Agency	10.0%
Commercial Mortgage-Backed Securities - Non-Agency	6.9%
Short-Term Investments	4.8%
Foreign Government Bonds	1.6%
Other Security TypesFootnote Reference*	2.1%
Liabilities in Excess of Other Assets	(12.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	19.5%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.1%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.5%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.3%
Wells Fargo & Co., 5.57%, due 07/25/29 (1 day USD SOFR + 1.740%)	1.3%
Federal National Mortgage Association, 4.50%, due 11/01/52	1.3%
Government National Mortgage Association REMICS, Class FB, 4.82%, due 09/20/54 (30 day USD SOFR Average + 1.150%)	1.2%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 04/15/40	1.2%
HSBC Holdings PLC (United Kingdom), 2.01%, due 09/22/28 (1 day USD SOFR + 1.732%)	1.2%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Low Duration Bond Fund

Annual Shareholder Report — March 31, 2026

Administrative Class: MWLNX

TSR MWLNX-0326

TCW MetWest Low Duration Bond Fund

Class I-3: MWLZX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Low Duration Bond Fund (the "Fund") for the period of August 26, 2025 (commencement of operations) to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I-3	$32Footnote Reference+	0.54%Footnote Reference*

Footnote	Description
Footnote*	Annualized.
Footnote+	The dollar amounts above reflect expenses paid since the commencement of operations. Expenses for the full reporting period would be higher.

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the ICE BofA 1-3 Year U.S. Treasury Index was largely supported by residential mortgage-backed securities (MBS), including the allocation to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Non-agency MBS positions were also significant to outperformance, with allocations to legacy issues backed by subprime collateral contributing the most, though both newer vintage “2.0” collateral also benefitted from compelling yields and strong carry. Further contributions came from additional allocations across securitized credit, with CMBS focused on single asset single borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral, and asset backed securities (ABS) given diversified exposure across non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I-3	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-3 Year U.S. Treasury Index
08/26/2025	$10,000	$10,000	$10,000
08/2025	$10,026	$10,120	$10,086
09/2025	$10,062	$10,230	$10,117
10/2025	$10,097	$10,294	$10,151
11/2025	$10,140	$10,358	$10,197
12/2025	$10,181	$10,343	$10,230
01/2026	$10,228	$10,354	$10,251
02/2026	$10,274	$10,523	$10,305
03/2026	$10,209	$10,338	$10,260

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	Since Inception 08/26/25
Class I-3	2.09%
Bloomberg U.S. Aggregate Bond Index	3.97%
ICE BofA 1-3 Year U.S. Treasury Index	2.61%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$918,552,616
• # of Portfolio Holdings527
• Portfolio Turnover Rate489%
• Total Advisory Fees Paid - Net$2,399,987

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Corporate Bonds	28.8%
U.S. Treasury Securities	21.5%
Residential Mortgage-Backed Securities - Agency	20.8%
Asset-Backed Securities	15.7%
Residential Mortgage-Backed Securities - Non-Agency	10.0%
Commercial Mortgage-Backed Securities - Non-Agency	6.9%
Short-Term Investments	4.8%
Foreign Government Bonds	1.6%
Other Security TypesFootnote Reference*	2.1%
Liabilities in Excess of Other Assets	(12.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	19.5%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.1%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.5%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.3%
Wells Fargo & Co., 5.57%, due 07/25/29 (1 day USD SOFR + 1.740%)	1.3%
Federal National Mortgage Association, 4.50%, due 11/01/52	1.3%
Government National Mortgage Association REMICS, Class FB, 4.82%, due 09/20/54 (30 day USD SOFR Average + 1.150%)	1.2%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 04/15/40	1.2%
HSBC Holdings PLC (United Kingdom), 2.01%, due 09/22/28 (1 day USD SOFR + 1.732%)	1.2%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Low Duration Bond Fund

Annual Shareholder Report — March 31, 2026

Class I-3: MWLZX

TSR MWLZX-0326

TCW MetWest Strategic Income Fund

Class I: MWSIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Strategic Income Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$82	0.80%

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove outperformance versus the ICE BofA U.S. 3-Month Treasury Bill Index, led by securitized products. The non-agency mortgage-backed securities (MBS) allocation was the largest contributor, benefiting from steady income and attractive yield premiums that boosted the Fund’s overall yield profile. Non-agency commercial MBS (CMBS), focused on single-asset, single-borrower (SASB) deals backed by high-quality properties, also contributed meaningfully, including positions down the capital structure. The asset-backed securities (ABS) allocation further boosted performance, led by non-traditional collateral such as digital infrastructure and single-family rentals. Outside of the allocation to securitized products, positions in high yield and investment grade corporates added value as both outperformed duration-matched Treasuries, with energy, consumer non-cyclicals, and banking sectors providing the largest tailwinds. Finally, the Fund’s positive duration position and emphasis on the front end of the curve was moderately additive as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	ICE BofA U.S. 3-Month Treasury Bill Index Plus 200 bps
03/2016	$10,000	$10,000	$10,000
04/2016	$10,109	$10,038	$10,019
05/2016	$10,110	$10,041	$10,037
06/2016	$10,147	$10,221	$10,057
07/2016	$10,240	$10,286	$10,076
08/2016	$10,267	$10,274	$10,095
09/2016	$10,303	$10,268	$10,117
10/2016	$10,309	$10,190	$10,136
11/2016	$10,282	$9,949	$10,154
12/2016	$10,310	$9,963	$10,175
01/2017	$10,362	$9,982	$10,197
02/2017	$10,399	$10,049	$10,218
03/2017	$10,432	$10,044	$10,236
04/2017	$10,455	$10,122	$10,260
05/2017	$10,535	$10,199	$10,282
06/2017	$10,550	$10,189	$10,308
07/2017	$10,563	$10,233	$10,334
08/2017	$10,639	$10,325	$10,360
09/2017	$10,658	$10,276	$10,386
10/2017	$10,703	$10,282	$10,413
11/2017	$10,735	$10,268	$10,439
12/2017	$10,742	$10,316	$10,467
01/2018	$10,741	$10,197	$10,497
02/2018	$10,730	$10,100	$10,524
03/2018	$10,735	$10,165	$10,557
04/2018	$10,713	$10,089	$10,588
05/2018	$10,745	$10,161	$10,622
06/2018	$10,721	$10,149	$10,657
07/2018	$10,757	$10,151	$10,691
08/2018	$10,809	$10,216	$10,728
09/2018	$10,830	$10,151	$10,762
10/2018	$10,833	$10,070	$10,799
11/2018	$10,809	$10,131	$10,839
12/2018	$10,842	$10,317	$10,877
01/2019	$10,976	$10,426	$10,916
02/2019	$11,004	$10,420	$10,953
03/2019	$11,101	$10,620	$10,996
04/2019	$11,152	$10,623	$11,035
05/2019	$11,204	$10,812	$11,078
06/2019	$11,298	$10,947	$11,121
07/2019	$11,335	$10,971	$11,159
08/2019	$11,416	$11,256	$11,201
09/2019	$11,418	$11,196	$11,239
10/2019	$11,463	$11,230	$11,279
11/2019	$11,488	$11,224	$11,312
12/2019	$11,501	$11,216	$11,347
01/2020	$11,594	$11,432	$11,381
02/2020	$11,591	$11,638	$11,416
03/2020	$10,700	$11,569	$11,468
04/2020	$11,050	$11,775	$11,488
05/2020	$11,279	$11,830	$11,507
06/2020	$11,485	$11,904	$11,528
07/2020	$11,614	$12,082	$11,549
08/2020	$11,709	$11,984	$11,569
09/2020	$11,734	$11,978	$11,590
10/2020	$11,811	$11,924	$11,610
11/2020	$11,981	$12,041	$11,630
12/2020	$12,068	$12,058	$11,651
01/2021	$12,100	$11,971	$11,671
02/2021	$12,195	$11,799	$11,691
03/2021	$12,218	$11,651	$11,711
04/2021	$12,295	$11,743	$11,731
05/2021	$12,317	$11,782	$11,750
06/2021	$12,361	$11,864	$11,769
07/2021	$12,370	$11,997	$11,789
08/2021	$12,385	$11,974	$11,809
09/2021	$12,416	$11,871	$11,830
10/2021	$12,357	$11,867	$11,849
11/2021	$12,340	$11,902	$11,869
12/2021	$12,356	$11,872	$11,890
01/2022	$12,240	$11,616	$11,909
02/2022	$12,148	$11,487	$11,930
03/2022	$11,881	$11,168	$11,953
04/2022	$11,682	$10,744	$11,975
05/2022	$11,718	$10,813	$12,003
06/2022	$11,514	$10,643	$12,025
07/2022	$11,727	$10,903	$12,051
08/2022	$11,590	$10,595	$12,091
09/2022	$11,283	$10,138	$12,141
10/2022	$11,219	$10,006	$12,180
11/2022	$11,489	$10,374	$12,239
12/2022	$11,527	$10,327	$12,304
01/2023	$11,819	$10,645	$12,362
02/2023	$11,697	$10,370	$12,423
03/2023	$11,863	$10,633	$12,497
04/2023	$11,945	$10,698	$12,557
05/2023	$11,913	$10,581	$12,627
06/2023	$11,958	$10,544	$12,706
07/2023	$12,059	$10,536	$12,777
08/2023	$12,083	$10,469	$12,856
09/2023	$11,964	$10,203	$12,936
10/2023	$11,865	$10,042	$13,015
11/2023	$12,245	$10,497	$13,095
12/2023	$12,567	$10,898	$13,178
01/2024	$12,666	$10,868	$13,256
02/2024	$12,573	$10,715	$13,332
03/2024	$12,705	$10,814	$13,414
04/2024	$12,548	$10,541	$13,494
05/2024	$12,706	$10,719	$13,581
06/2024	$12,829	$10,821	$13,659
07/2024	$13,047	$11,074	$13,743
08/2024	$13,226	$11,233	$13,831
09/2024	$13,380	$11,383	$13,914
10/2024	$13,249	$11,101	$13,990
11/2024	$13,408	$11,218	$14,066
12/2024	$13,352	$11,035	$14,146
01/2025	$13,436	$11,093	$14,222
02/2025	$13,617	$11,337	$14,290
03/2025	$13,639	$11,342	$14,362
04/2025	$13,680	$11,386	$14,435
05/2025	$13,761	$11,305	$14,512
06/2025	$13,918	$11,478	$14,583
07/2025	$13,941	$11,448	$14,658
08/2025	$14,069	$11,585	$14,741
09/2025	$14,183	$11,711	$14,815
10/2025	$14,276	$11,785	$14,891
11/2025	$14,347	$11,858	$14,957
12/2025	$14,372	$11,840	$15,034
01/2026	$14,438	$11,853	$15,103
02/2026	$14,548	$12,047	$15,167
03/2026	$14,446	$11,835	$15,237

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	5.92%	3.41%	3.75%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA U.S. 3-Month Treasury Bill Index Plus 200 bps	6.09%	5.40%	4.30%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$56,394,080
• # of Portfolio Holdings534
• Portfolio Turnover Rate302%
• Total Advisory Fees Paid - Net$154,847

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	24.0%
Corporate Bonds	23.1%
Residential Mortgage-Backed Securities - Agency	19.1%
Short-Term Investments	15.7%
Commercial Mortgage-Backed Securities - Non-Agency	12.4%
Asset-Backed Securities	8.7%
U.S. Treasury Securities	6.8%
Foreign Government Bonds	1.8%
Other Security TypesFootnote Reference*	2.6%
Liabilities in Excess of Other Assets	(14.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	6.4%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	3.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.8%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.5%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.3%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	1.2%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 09/01/51	0.9%
U.K. Gilts, 4.38%, due 07/03/28	0.9%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Strategic Income Fund

Annual Shareholder Report — March 31, 2026

Class I: MWSIX

TSR MWSIX-0326

TCW MetWest Strategic Income Fund

Class M: MWSTX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Strategic Income Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$107	1.04%

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove outperformance versus the ICE BofA U.S. 3-Month Treasury Bill Index, led by securitized products. The non-agency mortgage-backed securities (MBS) allocation was the largest contributor, benefiting from steady income and attractive yield premiums that boosted the Fund’s overall yield profile. Non-agency commercial MBS (CMBS), focused on single-asset, single-borrower (SASB) deals backed by high-quality properties, also contributed meaningfully, including positions down the capital structure. The asset-backed securities (ABS) allocation further boosted performance, led by non-traditional collateral such as digital infrastructure and single-family rentals. Outside of the allocation to securitized products, positions in high yield and investment grade corporates added value as both outperformed duration-matched Treasuries, with energy, consumer non-cyclicals, and banking sectors providing the largest tailwinds. Finally, the Fund’s positive duration position and emphasis on the front end of the curve was moderately additive as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	ICE BofA U.S. 3-Month Treasury Bill Index Plus 200 bps
03/2016	$10,000	$10,000	$10,000
04/2016	$10,095	$10,038	$10,019
05/2016	$10,093	$10,041	$10,037
06/2016	$10,141	$10,221	$10,057
07/2016	$10,231	$10,286	$10,076
08/2016	$10,256	$10,274	$10,095
09/2016	$10,290	$10,268	$10,117
10/2016	$10,293	$10,190	$10,136
11/2016	$10,265	$9,949	$10,154
12/2016	$10,290	$9,963	$10,175
01/2017	$10,326	$9,982	$10,197
02/2017	$10,374	$10,049	$10,218
03/2017	$10,391	$10,044	$10,236
04/2017	$10,425	$10,122	$10,260
05/2017	$10,489	$10,199	$10,282
06/2017	$10,502	$10,189	$10,308
07/2017	$10,514	$10,233	$10,334
08/2017	$10,587	$10,325	$10,360
09/2017	$10,603	$10,276	$10,386
10/2017	$10,646	$10,282	$10,413
11/2017	$10,675	$10,268	$10,439
12/2017	$10,680	$10,316	$10,467
01/2018	$10,691	$10,197	$10,497
02/2018	$10,677	$10,100	$10,524
03/2018	$10,680	$10,165	$10,557
04/2018	$10,656	$10,089	$10,588
05/2018	$10,672	$10,161	$10,622
06/2018	$10,660	$10,149	$10,657
07/2018	$10,677	$10,151	$10,691
08/2018	$10,727	$10,216	$10,728
09/2018	$10,760	$10,151	$10,762
10/2018	$10,747	$10,070	$10,799
11/2018	$10,721	$10,131	$10,839
12/2018	$10,751	$10,317	$10,877
01/2019	$10,882	$10,426	$10,916
02/2019	$10,921	$10,420	$10,953
03/2019	$11,001	$10,620	$10,996
04/2019	$11,051	$10,623	$11,035
05/2019	$11,113	$10,812	$11,078
06/2019	$11,204	$10,947	$11,121
07/2019	$11,224	$10,971	$11,159
08/2019	$11,301	$11,256	$11,201
09/2019	$11,301	$11,196	$11,239
10/2019	$11,358	$11,230	$11,279
11/2019	$11,365	$11,224	$11,312
12/2019	$11,376	$11,216	$11,347
01/2020	$11,466	$11,432	$11,381
02/2020	$11,475	$11,638	$11,416
03/2020	$10,577	$11,569	$11,468
04/2020	$10,921	$11,775	$11,488
05/2020	$11,164	$11,830	$11,507
06/2020	$11,351	$11,904	$11,528
07/2020	$11,492	$12,082	$11,549
08/2020	$11,570	$11,984	$11,569
09/2020	$11,608	$11,978	$11,590
10/2020	$11,674	$11,924	$11,610
11/2020	$11,848	$12,041	$11,630
12/2020	$11,932	$12,058	$11,651
01/2021	$11,976	$11,971	$11,671
02/2021	$12,067	$11,799	$11,691
03/2021	$12,072	$11,651	$11,711
04/2021	$12,146	$11,743	$11,731
05/2021	$12,165	$11,782	$11,750
06/2021	$12,207	$11,864	$11,769
07/2021	$12,213	$11,997	$11,789
08/2021	$12,226	$11,974	$11,809
09/2021	$12,253	$11,871	$11,830
10/2021	$12,192	$11,867	$11,849
11/2021	$12,174	$11,902	$11,869
12/2021	$12,187	$11,872	$11,890
01/2022	$12,070	$11,616	$11,909
02/2022	$11,978	$11,487	$11,930
03/2022	$11,712	$11,168	$11,953
04/2022	$11,513	$10,744	$11,975
05/2022	$11,564	$10,813	$12,003
06/2022	$11,360	$10,643	$12,025
07/2022	$11,551	$10,903	$12,051
08/2022	$11,413	$10,595	$12,091
09/2022	$11,127	$10,138	$12,141
10/2022	$11,062	$10,006	$12,180
11/2022	$11,307	$10,374	$12,239
12/2022	$11,343	$10,327	$12,304
01/2023	$11,628	$10,645	$12,362
02/2023	$11,506	$10,370	$12,423
03/2023	$11,685	$10,633	$12,497
04/2023	$11,763	$10,698	$12,557
05/2023	$11,730	$10,581	$12,627
06/2023	$11,752	$10,544	$12,706
07/2023	$11,849	$10,536	$12,777
08/2023	$11,871	$10,469	$12,856
09/2023	$11,752	$10,203	$12,936
10/2023	$11,652	$10,042	$13,015
11/2023	$12,023	$10,497	$13,095
12/2023	$12,336	$10,898	$13,178
01/2024	$12,431	$10,868	$13,256
02/2024	$12,337	$10,715	$13,332
03/2024	$12,464	$10,814	$13,414
04/2024	$12,308	$10,541	$13,494
05/2024	$12,461	$10,719	$13,581
06/2024	$12,578	$10,821	$13,659
07/2024	$12,790	$11,074	$13,743
08/2024	$12,983	$11,233	$13,831
09/2024	$13,111	$11,383	$13,914
10/2024	$12,979	$11,101	$13,990
11/2024	$13,134	$11,218	$14,066
12/2024	$13,076	$11,035	$14,146
01/2025	$13,156	$11,093	$14,222
02/2025	$13,351	$11,337	$14,290
03/2025	$13,370	$11,342	$14,362
04/2025	$13,408	$11,386	$14,435
05/2025	$13,463	$11,305	$14,512
06/2025	$13,618	$11,478	$14,583
07/2025	$13,637	$11,448	$14,658
08/2025	$13,760	$11,585	$14,741
09/2025	$13,869	$11,711	$14,815
10/2025	$13,956	$11,785	$14,891
11/2025	$14,023	$11,858	$14,957
12/2025	$14,045	$11,840	$15,034
01/2026	$14,106	$11,853	$15,103
02/2026	$14,211	$12,047	$15,167
03/2026	$14,108	$11,835	$15,237

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	5.52%	3.17%	3.50%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA U.S. 3-Month Treasury Bill Index Plus 200 bps	6.09%	5.40%	4.30%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$56,394,080
• # of Portfolio Holdings534
• Portfolio Turnover Rate302%
• Total Advisory Fees Paid - Net$154,847

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	24.0%
Corporate Bonds	23.1%
Residential Mortgage-Backed Securities - Agency	19.1%
Short-Term Investments	15.7%
Commercial Mortgage-Backed Securities - Non-Agency	12.4%
Asset-Backed Securities	8.7%
U.S. Treasury Securities	6.8%
Foreign Government Bonds	1.8%
Other Security TypesFootnote Reference*	2.6%
Liabilities in Excess of Other Assets	(14.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	6.4%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	3.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.8%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.6%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.5%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.3%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	1.2%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 09/01/51	0.9%
U.K. Gilts, 4.38%, due 07/03/28	0.9%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Strategic Income Fund

Annual Shareholder Report — March 31, 2026

Class M: MWSTX

TSR MWSTX-0326

TCW MetWest Sustainable Securitized Fund

Class I: MWESX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Sustainable Securitized Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). This report contains material fund changes that occurred during the reporting period.

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$50	0.49%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Mortgage-Backed Securities (MBS) Index was supported by the sizable allocation to securitized sectors outside of agency MBS, led by the position in non-agency commercial MBS (CMBS).  The allocation was focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset-backed security (ABS) exposure further enhanced relative returns amid contributions from non-traditional collateral types that provided attractive yield and spread premiums, while non-agency MBS produced a further tailwind as spreads tightened across collateral types and deal structures.  The underweight to agency MBS, meanwhile, detracted somewhat from relative returns as the sector was one of the best-performing fixed income sectors, though a modest allocation to floating rate collateralized mortgage obligations (CMOs) helped to lessen the drag given strong carry and heightened market demand.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Mortgage-Backed Securities (MBS) Index
10/01/2021	$10,000	$10,000	$10,000
09/30/2021	$10,000	$10,000	$10,000
10/31/2021	$9,972	$9,997	$9,981
11/30/2021	$9,976	$10,027	$9,972
12/31/2021	$9,965	$10,001	$9,963
01/31/2022	$9,824	$9,786	$9,815
02/28/2022	$9,694	$9,677	$9,720
03/31/2022	$9,414	$9,408	$9,467
04/30/2022	$9,146	$9,051	$9,135
05/31/2022	$9,140	$9,109	$9,236
06/30/2022	$9,003	$8,966	$9,088
07/31/2022	$9,220	$9,185	$9,380
08/31/2022	$8,955	$8,926	$9,060
09/30/2022	$8,529	$8,540	$8,602
10/31/2022	$8,303	$8,429	$8,479
11/30/2022	$8,609	$8,739	$8,825
12/31/2022	$8,568	$8,700	$8,786
01/31/2023	$8,869	$8,968	$9,076
02/28/2023	$8,644	$8,736	$8,836
03/31/2023	$8,751	$8,958	$9,008
04/30/2023	$8,796	$9,012	$9,055
05/31/2023	$8,695	$8,914	$8,988
06/30/2023	$8,606	$8,882	$8,950
07/31/2023	$8,622	$8,876	$8,943
08/31/2023	$8,601	$8,819	$8,870
09/30/2023	$8,384	$8,595	$8,587
10/31/2023	$8,236	$8,459	$8,410
11/30/2023	$8,684	$8,843	$8,848
12/31/2023	$9,102	$9,181	$9,229
01/31/2024	$9,173	$9,156	$9,187
02/29/2024	$9,053	$9,026	$9,037
03/31/2024	$9,159	$9,110	$9,133
04/30/2024	$9,126	$8,880	$8,857
05/31/2024	$9,309	$9,030	$9,034
06/30/2024	$9,473	$9,116	$9,139
07/31/2024	$9,792	$9,329	$9,380
08/31/2024	$9,971	$9,463	$9,532
09/30/2024	$10,128	$9,589	$9,645
10/31/2024	$9,888	$9,352	$9,372
11/30/2024	$10,015	$9,450	$9,497
12/31/2024	$9,866	$9,296	$9,340
01/31/2025	$9,943	$9,345	$9,388
02/28/2025	$10,197	$9,551	$9,627
03/31/2025	$10,186	$9,554	$9,626
04/30/2025	$10,211	$9,592	$9,653
05/31/2025	$10,161	$9,523	$9,565
06/30/2025	$10,336	$9,670	$9,735
07/31/2025	$10,289	$9,644	$9,696
08/31/2025	$10,437	$9,759	$9,852
09/30/2025	$10,536	$9,866	$9,971
10/31/2025	$10,614	$9,928	$10,058
11/30/2025	$10,702	$9,989	$10,120
12/31/2025	$10,707	$9,974	$10,142
01/31/2026	$10,756	$9,985	$10,183
02/28/2026	$10,928	$10,149	$10,353
03/31/2026	$10,760	$9,970	$10,183

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	Since Inception 10/01/21
Class I	5.63%	1.64%
Bloomberg U.S. Aggregate Bond Index	4.35%	3.97%
Bloomberg U.S. Mortgage-Backed Securities (MBS) Index	5.79%	0.40%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$23,903,429
• # of Portfolio Holdings266
• Portfolio Turnover Rate354%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	44.8%
Commercial Mortgage-Backed Securities - Non-Agency	30.7%
Asset-Backed Securities	17.3%
Residential Mortgage-Backed Securities - Non-Agency	12.1%
Short-Term Investments	5.7%
U.S. Treasury Securities	4.4%
Commercial Mortgage-Backed Securities - Agency	1.2%
Liabilities in Excess of Other Assets	(16.2%)

Top Ten Holdings (as a % of Net Assets)

Table Summary

Government National Mortgage Association, TBA, 3.50%, due 01/07/55	3.4%
Government National Mortgage Association, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 01/06/55	2.2%
Government National Mortgage Association, TBA, 2.50%, due 04/21/56	2.0%
U.S. Treasury Notes, 4.13%, due 02/15/36	1.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.7%
Government National Mortgage Association, TBA, 4.50%, due 01/01/56	1.5%
Federal National Mortgage Association, 3.50%, due 07/01/52	1.5%
Federal National Mortgage Association, 3.50%, due 10/01/52	1.5%
U.S. Treasury Notes, 3.88%, due 03/31/28	1.4%

Material Fund Changes 

This is a summary of certain changes to the Fund since April 1, 2025. For more complete information, you may review the Fund’s next prospectus, which we expect to be available approximately 120 days after March 31, 2026 at www.tcw.com/products/mutual-funds or upon request by contacting us at 800-FUND-TCW (800-386-3829).

On March 16, 2026, the Board of Trustees of approved a form of Agreement and Plan of Reorganization to reorganize the Fund with and into TCW Securitized Income ETF, a newly created exchange-traded fund. The effective date of the reorganization will be on or about June 8th, 2026.

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Sustainable Securitized Fund

Annual Shareholder Report — March 31, 2026

Class I: MWESX

TSR MWESX-0326

TCW MetWest Sustainable Securitized Fund

Class M: MWERX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Sustainable Securitized Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). This report contains material fund changes that occurred during the reporting period.

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$72	0.70%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Mortgage-Backed Securities (MBS) Index was supported by the sizable allocation to securitized sectors outside of agency MBS, led by the position in non-agency commercial MBS (CMBS).  The allocation was focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset-backed security (ABS) exposure further enhanced relative returns amid contributions from non-traditional collateral types that provided attractive yield and spread premiums, while non-agency MBS produced a further tailwind as spreads tightened across collateral types and deal structures.  The underweight to agency MBS, meanwhile, detracted somewhat from relative returns as the sector was one of the best-performing fixed income sectors, though a modest allocation to floating rate collateralized mortgage obligations (CMOs) helped to lessen the drag given strong carry and heightened market demand.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Mortgage-Backed Securities (MBS) Index
10/01/2021	$10,000	$10,000	$10,000
09/30/2021	$10,000	$10,000	$10,000
10/31/2021	$9,988	$9,997	$9,981
11/30/2021	$9,999	$10,027	$9,972
12/31/2021	$10,000	$10,001	$9,963
01/31/2022	$9,857	$9,786	$9,815
02/28/2022	$9,724	$9,677	$9,720
03/31/2022	$9,440	$9,408	$9,467
04/30/2022	$9,169	$9,051	$9,135
05/31/2022	$9,161	$9,109	$9,236
06/30/2022	$9,021	$8,966	$9,088
07/31/2022	$9,238	$9,185	$9,380
08/31/2022	$8,970	$8,926	$9,060
09/30/2022	$8,552	$8,540	$8,602
10/31/2022	$8,314	$8,429	$8,479
11/30/2022	$8,619	$8,739	$8,825
12/31/2022	$8,586	$8,700	$8,786
01/31/2023	$8,887	$8,968	$9,076
02/28/2023	$8,660	$8,736	$8,836
03/31/2023	$8,765	$8,958	$9,008
04/30/2023	$8,799	$9,012	$9,055
05/31/2023	$8,697	$8,914	$8,988
06/30/2023	$8,606	$8,882	$8,950
07/31/2023	$8,620	$8,876	$8,943
08/31/2023	$8,609	$8,819	$8,870
09/30/2023	$8,379	$8,595	$8,587
10/31/2023	$8,240	$8,459	$8,410
11/30/2023	$8,676	$8,843	$8,848
12/31/2023	$9,092	$9,181	$9,229
01/31/2024	$9,173	$9,156	$9,187
02/29/2024	$9,051	$9,026	$9,037
03/31/2024	$9,145	$9,110	$9,133
04/30/2024	$9,111	$8,880	$8,857
05/31/2024	$9,291	$9,030	$9,034
06/30/2024	$9,454	$9,116	$9,139
07/31/2024	$9,771	$9,329	$9,380
08/31/2024	$9,948	$9,463	$9,532
09/30/2024	$10,103	$9,589	$9,645
10/31/2024	$9,862	$9,352	$9,372
11/30/2024	$9,997	$9,450	$9,497
12/31/2024	$9,835	$9,296	$9,340
01/31/2025	$9,922	$9,345	$9,388
02/28/2025	$10,162	$9,551	$9,627
03/31/2025	$10,161	$9,554	$9,626
04/30/2025	$10,184	$9,592	$9,653
05/31/2025	$10,133	$9,523	$9,565
06/30/2025	$10,305	$9,670	$9,735
07/31/2025	$10,257	$9,644	$9,696
08/31/2025	$10,390	$9,759	$9,852
09/30/2025	$10,499	$9,866	$9,971
10/31/2025	$10,575	$9,928	$10,058
11/30/2025	$10,661	$9,989	$10,120
12/31/2025	$10,652	$9,974	$10,142
01/31/2026	$10,699	$9,985	$10,183
02/28/2026	$10,881	$10,149	$10,353
03/31/2026	$10,699	$9,970	$10,183

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	Since Inception 10/01/21
Class M	5.29%	1.51%
Bloomberg U.S. Aggregate Bond Index	4.35%	3.97%
Bloomberg U.S. Mortgage-Backed Securities (MBS) Index	5.79%	0.40%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$23,903,429
• # of Portfolio Holdings266
• Portfolio Turnover Rate354%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	44.8%
Commercial Mortgage-Backed Securities - Non-Agency	30.7%
Asset-Backed Securities	17.3%
Residential Mortgage-Backed Securities - Non-Agency	12.1%
Short-Term Investments	5.7%
U.S. Treasury Securities	4.4%
Commercial Mortgage-Backed Securities - Agency	1.2%
Liabilities in Excess of Other Assets	(16.2%)

Top Ten Holdings (as a % of Net Assets)

Table Summary

Government National Mortgage Association, TBA, 3.50%, due 01/07/55	3.4%
Government National Mortgage Association, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 01/06/55	2.2%
Government National Mortgage Association, TBA, 2.50%, due 04/21/56	2.0%
U.S. Treasury Notes, 4.13%, due 02/15/36	1.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	1.7%
Government National Mortgage Association, TBA, 4.50%, due 01/01/56	1.5%
Federal National Mortgage Association, 3.50%, due 07/01/52	1.5%
Federal National Mortgage Association, 3.50%, due 10/01/52	1.5%
U.S. Treasury Notes, 3.88%, due 03/31/28	1.4%

Material Fund Changes 

This is a summary of certain changes to the Fund since April 1, 2025. For more complete information, you may review the Fund’s next prospectus, which we expect to be available approximately 120 days after March 31, 2026 at www.tcw.com/products/mutual-funds or upon request by contacting us at 800-FUND-TCW (800-386-3829).

On March 16, 2026, the Board of Trustees of approved a form of Agreement and Plan of Reorganization to reorganize the Fund with and into TCW Securitized Income ETF, a newly created exchange-traded fund. The effective date of the reorganization will be on or about June 8th, 2026.

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Sustainable Securitized Fund

Annual Shareholder Report — March 31, 2026

Class M: MWERX

TSR MWERX-0326

TCW MetWest Total Return Bond Fund

Class I: MWTIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$44	0.43%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index
03/2016	$10,000	$10,000
04/2016	$10,044	$10,038
05/2016	$10,043	$10,041
06/2016	$10,198	$10,221
07/2016	$10,273	$10,286
08/2016	$10,270	$10,274
09/2016	$10,274	$10,268
10/2016	$10,205	$10,190
11/2016	$9,995	$9,949
12/2016	$10,003	$9,963
01/2017	$10,028	$9,982
02/2017	$10,092	$10,049
03/2017	$10,093	$10,044
04/2017	$10,168	$10,122
05/2017	$10,235	$10,199
06/2017	$10,224	$10,189
07/2017	$10,261	$10,233
08/2017	$10,357	$10,325
09/2017	$10,306	$10,276
10/2017	$10,307	$10,282
11/2017	$10,306	$10,268
12/2017	$10,345	$10,316
01/2018	$10,238	$10,197
02/2018	$10,140	$10,100
03/2018	$10,211	$10,165
04/2018	$10,145	$10,089
05/2018	$10,217	$10,161
06/2018	$10,202	$10,149
07/2018	$10,207	$10,151
08/2018	$10,270	$10,216
09/2018	$10,206	$10,151
10/2018	$10,131	$10,070
11/2018	$10,186	$10,131
12/2018	$10,362	$10,317
01/2019	$10,489	$10,426
02/2019	$10,495	$10,420
03/2019	$10,693	$10,620
04/2019	$10,700	$10,623
05/2019	$10,898	$10,812
06/2019	$11,036	$10,947
07/2019	$11,051	$10,971
08/2019	$11,340	$11,256
09/2019	$11,283	$11,196
10/2019	$11,316	$11,230
11/2019	$11,318	$11,224
12/2019	$11,304	$11,216
01/2020	$11,533	$11,432
02/2020	$11,719	$11,638
03/2020	$11,566	$11,569
04/2020	$11,836	$11,775
05/2020	$11,927	$11,830
06/2020	$12,037	$11,904
07/2020	$12,241	$12,082
08/2020	$12,184	$11,984
09/2020	$12,188	$11,978
10/2020	$12,150	$11,924
11/2020	$12,300	$12,041
12/2020	$12,334	$12,058
01/2021	$12,270	$11,971
02/2021	$12,105	$11,799
03/2021	$11,975	$11,651
04/2021	$12,076	$11,743
05/2021	$12,112	$11,782
06/2021	$12,191	$11,864
07/2021	$12,325	$11,997
08/2021	$12,305	$11,974
09/2021	$12,206	$11,871
10/2021	$12,198	$11,867
11/2021	$12,221	$11,902
12/2021	$12,195	$11,872
01/2022	$11,942	$11,616
02/2022	$11,801	$11,487
03/2022	$11,427	$11,168
04/2022	$10,964	$10,744
05/2022	$11,019	$10,813
06/2022	$10,772	$10,643
07/2022	$11,081	$10,903
08/2022	$10,745	$10,595
09/2022	$10,214	$10,138
10/2022	$10,051	$10,006
11/2022	$10,455	$10,374
12/2022	$10,392	$10,327
01/2023	$10,779	$10,645
02/2023	$10,465	$10,370
03/2023	$10,765	$10,633
04/2023	$10,823	$10,698
05/2023	$10,686	$10,581
06/2023	$10,630	$10,544
07/2023	$10,634	$10,536
08/2023	$10,558	$10,469
09/2023	$10,250	$10,203
10/2023	$10,040	$10,042
11/2023	$10,556	$10,497
12/2023	$11,015	$10,898
01/2024	$11,007	$10,868
02/2024	$10,826	$10,715
03/2024	$10,921	$10,814
04/2024	$10,597	$10,541
05/2024	$10,794	$10,719
06/2024	$10,919	$10,821
07/2024	$11,207	$11,074
08/2024	$11,394	$11,233
09/2024	$11,546	$11,383
10/2024	$11,206	$11,101
11/2024	$11,345	$11,218
12/2024	$11,131	$11,035
01/2025	$11,199	$11,093
02/2025	$11,492	$11,337
03/2025	$11,474	$11,342
04/2025	$11,526	$11,386
05/2025	$11,428	$11,305
06/2025	$11,633	$11,478
07/2025	$11,589	$11,448
08/2025	$11,745	$11,585
09/2025	$11,881	$11,711
10/2025	$11,964	$11,785
11/2025	$12,036	$11,858
12/2025	$12,000	$11,840
01/2026	$12,031	$11,853
02/2026	$12,245	$12,047
03/2026	$12,002	$11,835

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	4.60%	0.04%	1.84%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Class I: MWTIX

TSR MWTIX-0326

TCW MetWest Total Return Bond Fund

Class M: MWTRX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$69	0.68%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index
03/2016	$10,000	$10,000
04/2016	$10,042	$10,038
05/2016	$10,039	$10,041
06/2016	$10,192	$10,221
07/2016	$10,264	$10,286
08/2016	$10,260	$10,274
09/2016	$10,262	$10,268
10/2016	$10,200	$10,190
11/2016	$9,979	$9,949
12/2016	$9,994	$9,963
01/2017	$10,008	$9,982
02/2017	$10,080	$10,049
03/2017	$10,070	$10,044
04/2017	$10,143	$10,122
05/2017	$10,208	$10,199
06/2017	$10,204	$10,189
07/2017	$10,239	$10,233
08/2017	$10,323	$10,325
09/2017	$10,271	$10,276
10/2017	$10,269	$10,282
11/2017	$10,267	$10,268
12/2017	$10,304	$10,316
01/2018	$10,195	$10,197
02/2018	$10,105	$10,100
03/2018	$10,165	$10,165
04/2018	$10,097	$10,089
05/2018	$10,167	$10,161
06/2018	$10,159	$10,149
07/2018	$10,153	$10,151
08/2018	$10,224	$10,216
09/2018	$10,158	$10,151
10/2018	$10,072	$10,070
11/2018	$10,125	$10,131
12/2018	$10,298	$10,317
01/2019	$10,422	$10,426
02/2019	$10,425	$10,420
03/2019	$10,621	$10,620
04/2019	$10,625	$10,623
05/2019	$10,820	$10,812
06/2019	$10,954	$10,947
07/2019	$10,978	$10,971
08/2019	$11,252	$11,256
09/2019	$11,193	$11,196
10/2019	$11,235	$11,230
11/2019	$11,225	$11,224
12/2019	$11,218	$11,216
01/2020	$11,433	$11,432
02/2020	$11,626	$11,638
03/2020	$11,462	$11,569
04/2020	$11,738	$11,775
05/2020	$11,815	$11,830
06/2020	$11,922	$11,904
07/2020	$12,132	$12,082
08/2020	$12,074	$11,984
09/2020	$12,065	$11,978
10/2020	$12,025	$11,924
11/2020	$12,171	$12,041
12/2020	$12,203	$12,058
01/2021	$12,148	$11,971
02/2021	$11,983	$11,799
03/2021	$11,841	$11,651
04/2021	$11,939	$11,743
05/2021	$11,971	$11,782
06/2021	$12,048	$11,864
07/2021	$12,178	$11,997
08/2021	$12,156	$11,974
09/2021	$12,067	$11,871
10/2021	$12,046	$11,867
11/2021	$12,067	$11,902
12/2021	$12,039	$11,872
01/2022	$11,788	$11,616
02/2022	$11,647	$11,487
03/2022	$11,287	$11,168
04/2022	$10,827	$10,744
05/2022	$10,869	$10,813
06/2022	$10,624	$10,643
07/2022	$10,937	$10,903
08/2022	$10,604	$10,595
09/2022	$10,068	$10,138
10/2022	$9,906	$10,006
11/2022	$10,302	$10,374
12/2022	$10,249	$10,327
01/2023	$10,628	$10,645
02/2023	$10,306	$10,370
03/2023	$10,599	$10,633
04/2023	$10,654	$10,698
05/2023	$10,517	$10,581
06/2023	$10,460	$10,544
07/2023	$10,473	$10,536
08/2023	$10,396	$10,469
09/2023	$10,080	$10,203
10/2023	$9,872	$10,042
11/2023	$10,378	$10,497
12/2023	$10,839	$10,898
01/2024	$10,818	$10,868
02/2024	$10,638	$10,715
03/2024	$10,730	$10,814
04/2024	$10,421	$10,541
05/2024	$10,612	$10,719
06/2024	$10,722	$10,821
07/2024	$11,003	$11,074
08/2024	$11,184	$11,233
09/2024	$11,343	$11,383
10/2024	$10,995	$11,101
11/2024	$11,142	$11,218
12/2024	$10,917	$11,035
01/2025	$10,982	$11,093
02/2025	$11,267	$11,337
03/2025	$11,249	$11,342
04/2025	$11,299	$11,386
05/2025	$11,201	$11,305
06/2025	$11,399	$11,478
07/2025	$11,354	$11,448
08/2025	$11,505	$11,585
09/2025	$11,636	$11,711
10/2025	$11,715	$11,785
11/2025	$11,783	$11,858
12/2025	$11,745	$11,840
01/2026	$11,785	$11,853
02/2026	$11,979	$12,047
03/2026	$11,738	$11,835

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	4.35%	-0.17%	1.62%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Class M: MWTRX

TSR MWTRX-0326

TCW MetWest Total Return Bond Fund

Administrative Class: MWTNX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Administrative Class	$82	0.80%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Administrative Class	Bloomberg U.S. Aggregate Bond Index
03/2016	$10,000	$10,000
04/2016	$10,041	$10,038
05/2016	$10,037	$10,041
06/2016	$10,189	$10,221
07/2016	$10,260	$10,286
08/2016	$10,254	$10,274
09/2016	$10,256	$10,268
10/2016	$10,183	$10,190
11/2016	$9,971	$9,949
12/2016	$9,976	$9,963
01/2017	$9,999	$9,982
02/2017	$10,060	$10,049
03/2017	$10,058	$10,044
04/2017	$10,121	$10,122
05/2017	$10,194	$10,199
06/2017	$10,180	$10,189
07/2017	$10,214	$10,233
08/2017	$10,307	$10,325
09/2017	$10,253	$10,276
10/2017	$10,251	$10,282
11/2017	$10,248	$10,268
12/2017	$10,284	$10,316
01/2018	$10,175	$10,197
02/2018	$10,074	$10,100
03/2018	$10,142	$10,165
04/2018	$10,074	$10,089
05/2018	$10,143	$10,161
06/2018	$10,125	$10,149
07/2018	$10,127	$10,151
08/2018	$10,187	$10,216
09/2018	$10,121	$10,151
10/2018	$10,034	$10,070
11/2018	$10,086	$10,131
12/2018	$10,267	$10,317
01/2019	$10,390	$10,426
02/2019	$10,382	$10,420
03/2019	$10,585	$10,620
04/2019	$10,588	$10,623
05/2019	$10,781	$10,812
06/2019	$10,914	$10,947
07/2019	$10,927	$10,971
08/2019	$11,209	$11,256
09/2019	$11,149	$11,196
10/2019	$11,179	$11,230
11/2019	$11,178	$11,224
12/2019	$11,161	$11,216
01/2020	$11,383	$11,432
02/2020	$11,565	$11,638
03/2020	$11,411	$11,569
04/2020	$11,673	$11,775
05/2020	$11,759	$11,830
06/2020	$11,865	$11,904
07/2020	$12,062	$12,082
08/2020	$12,002	$11,984
09/2020	$12,003	$11,978
10/2020	$11,963	$11,924
11/2020	$12,107	$12,041
12/2020	$12,137	$12,058
01/2021	$12,071	$11,971
02/2021	$11,916	$11,799
03/2021	$11,775	$11,651
04/2021	$11,871	$11,743
05/2021	$11,902	$11,782
06/2021	$11,977	$11,864
07/2021	$12,105	$11,997
08/2021	$12,082	$11,974
09/2021	$11,982	$11,871
10/2021	$11,970	$11,867
11/2021	$11,990	$11,902
12/2021	$11,961	$11,872
01/2022	$11,710	$11,616
02/2022	$11,569	$11,487
03/2022	$11,199	$11,168
04/2022	$10,743	$10,744
05/2022	$10,794	$10,813
06/2022	$10,550	$10,643
07/2022	$10,848	$10,903
08/2022	$10,517	$10,595
09/2022	$9,995	$10,138
10/2022	$9,833	$10,006
11/2022	$10,225	$10,374
12/2022	$10,160	$10,327
01/2023	$10,535	$10,645
02/2023	$10,226	$10,370
03/2023	$10,516	$10,633
04/2023	$10,570	$10,698
05/2023	$10,433	$10,581
06/2023	$10,375	$10,544
07/2023	$10,376	$10,536
08/2023	$10,299	$10,469
09/2023	$9,997	$10,203
10/2023	$9,790	$10,042
11/2023	$10,290	$10,497
12/2023	$10,734	$10,898
01/2024	$10,723	$10,868
02/2024	$10,544	$10,715
03/2024	$10,633	$10,814
04/2024	$10,315	$10,541
05/2024	$10,504	$10,719
06/2024	$10,623	$10,821
07/2024	$10,900	$11,074
08/2024	$11,078	$11,233
09/2024	$11,235	$11,383
10/2024	$10,889	$11,101
11/2024	$11,033	$11,218
12/2024	$10,810	$11,035
01/2025	$10,873	$11,093
02/2025	$11,155	$11,337
03/2025	$11,134	$11,342
04/2025	$11,182	$11,386
05/2025	$11,083	$11,305
06/2025	$11,279	$11,478
07/2025	$11,233	$11,448
08/2025	$11,381	$11,585
09/2025	$11,509	$11,711
10/2025	$11,586	$11,785
11/2025	$11,652	$11,858
12/2025	$11,613	$11,840
01/2026	$11,640	$11,853
02/2026	$11,843	$12,047
03/2026	$11,604	$11,835

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Administrative Class	4.22%	-0.29%	1.50%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Administrative Class: MWTNX

TSR MWTNX-0326

TCW MetWest Total Return Bond Fund

Plan Class: MWTSX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Plan Class	$39	0.38%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Plan Class	Bloomberg U.S. Aggregate Bond Index
03/2016	$10,000	$10,000
04/2016	$10,046	$10,038
05/2016	$10,045	$10,041
06/2016	$10,199	$10,221
07/2016	$10,277	$10,286
08/2016	$10,274	$10,274
09/2016	$10,278	$10,268
10/2016	$10,214	$10,190
11/2016	$10,000	$9,949
12/2016	$10,008	$9,963
01/2017	$10,035	$9,982
02/2017	$10,102	$10,049
03/2017	$10,103	$10,044
04/2017	$10,173	$10,122
05/2017	$10,243	$10,199
06/2017	$10,241	$10,189
07/2017	$10,270	$10,233
08/2017	$10,361	$10,325
09/2017	$10,317	$10,276
10/2017	$10,316	$10,282
11/2017	$10,315	$10,268
12/2017	$10,357	$10,316
01/2018	$10,252	$10,197
02/2018	$10,158	$10,100
03/2018	$10,222	$10,165
04/2018	$10,162	$10,089
05/2018	$10,238	$10,161
06/2018	$10,221	$10,149
07/2018	$10,225	$10,151
08/2018	$10,292	$10,216
09/2018	$10,233	$10,151
10/2018	$10,142	$10,070
11/2018	$10,200	$10,131
12/2018	$10,386	$10,317
01/2019	$10,509	$10,426
02/2019	$10,514	$10,420
03/2019	$10,713	$10,620
04/2019	$10,719	$10,623
05/2019	$10,929	$10,812
06/2019	$11,063	$10,947
07/2019	$11,079	$10,971
08/2019	$11,364	$11,256
09/2019	$11,313	$11,196
10/2019	$11,348	$11,230
11/2019	$11,339	$11,224
12/2019	$11,345	$11,216
01/2020	$11,566	$11,432
02/2020	$11,753	$11,638
03/2020	$11,601	$11,569
04/2020	$11,876	$11,775
05/2020	$11,962	$11,830
06/2020	$12,079	$11,904
07/2020	$12,285	$12,082
08/2020	$12,224	$11,984
09/2020	$12,228	$11,978
10/2020	$12,188	$11,924
11/2020	$12,336	$12,041
12/2020	$12,385	$12,058
01/2021	$12,316	$11,971
02/2021	$12,151	$11,799
03/2021	$12,024	$11,651
04/2021	$12,120	$11,743
05/2021	$12,158	$11,782
06/2021	$12,243	$11,864
07/2021	$12,375	$11,997
08/2021	$12,353	$11,974
09/2021	$12,259	$11,871
10/2021	$12,250	$11,867
11/2021	$12,275	$11,902
12/2021	$12,247	$11,872
01/2022	$12,000	$11,616
02/2022	$11,849	$11,487
03/2022	$11,483	$11,168
04/2022	$11,023	$10,744
05/2022	$11,069	$10,813
06/2022	$10,828	$10,643
07/2022	$11,133	$10,903
08/2022	$10,796	$10,595
09/2022	$10,263	$10,138
10/2022	$10,099	$10,006
11/2022	$10,506	$10,374
12/2022	$10,449	$10,327
01/2023	$10,837	$10,645
02/2023	$10,511	$10,370
03/2023	$10,819	$10,633
04/2023	$10,880	$10,698
05/2023	$10,743	$10,581
06/2023	$10,681	$10,544
07/2023	$10,696	$10,536
08/2023	$10,625	$10,469
09/2023	$10,306	$10,203
10/2023	$10,104	$10,042
11/2023	$10,618	$10,497
12/2023	$11,083	$10,898
01/2024	$11,072	$10,868
02/2024	$10,889	$10,715
03/2024	$10,989	$10,814
04/2024	$10,666	$10,541
05/2024	$10,862	$10,719
06/2024	$10,994	$10,821
07/2024	$11,275	$11,074
08/2024	$11,460	$11,233
09/2024	$11,621	$11,383
10/2024	$11,280	$11,101
11/2024	$11,428	$11,218
12/2024	$11,207	$11,035
01/2025	$11,279	$11,093
02/2025	$11,565	$11,337
03/2025	$11,558	$11,342
04/2025	$11,599	$11,386
05/2025	$11,505	$11,305
06/2025	$11,709	$11,478
07/2025	$11,674	$11,448
08/2025	$11,827	$11,585
09/2025	$11,957	$11,711
10/2025	$12,046	$11,785
11/2025	$12,121	$11,858
12/2025	$12,088	$11,840
01/2026	$12,120	$11,853
02/2026	$12,333	$12,047
03/2026	$12,099	$11,835

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Plan Class	4.68%	0.12%	1.92%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Plan Class: MWTSX

TSR MWTSX-0326

TCW MetWest Total Return Bond Fund

Class I-2: MWTTX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I-2	$54	0.53%

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Class I-2	Bloomberg U.S. Aggregate Bond Index
03/06/2020	$10,000	$10,000
03/31/2020	$9,707	$9,941
04/30/2020	$9,942	$10,118
05/31/2020	$10,024	$10,165
06/30/2020	$10,117	$10,229
07/31/2020	$10,290	$10,382
08/31/2020	$10,242	$10,298
09/30/2020	$10,246	$10,292
10/31/2020	$10,213	$10,246
11/30/2020	$10,338	$10,347
12/31/2020	$10,366	$10,361
01/31/2021	$10,312	$10,287
02/28/2021	$10,181	$10,138
03/31/2021	$10,061	$10,012
04/30/2021	$10,146	$10,091
05/31/2021	$10,175	$10,124
06/30/2021	$10,241	$10,195
07/31/2021	$10,354	$10,309
08/31/2021	$10,336	$10,289
09/30/2021	$10,253	$10,200
10/31/2021	$10,245	$10,197
11/30/2021	$10,264	$10,228
12/31/2021	$10,241	$10,201
01/31/2022	$10,028	$9,982
02/28/2022	$9,909	$9,870
03/31/2022	$9,594	$9,596
04/30/2022	$9,204	$9,232
05/31/2022	$9,250	$9,291
06/30/2022	$9,043	$9,146
07/31/2022	$9,301	$9,369
08/31/2022	$9,018	$9,104
09/30/2022	$8,573	$8,711
10/31/2022	$8,436	$8,598
11/30/2022	$8,774	$8,914
12/31/2022	$8,720	$8,874
01/31/2023	$9,044	$9,147
02/28/2023	$8,779	$8,911
03/31/2023	$9,021	$9,137
04/30/2023	$9,080	$9,192
05/31/2023	$8,964	$9,092
06/30/2023	$8,917	$9,060
07/31/2023	$8,919	$9,054
08/31/2023	$8,855	$8,996
09/30/2023	$8,596	$8,767
10/31/2023	$8,419	$8,629
11/30/2023	$8,852	$9,020
12/31/2023	$9,236	$9,365
01/31/2024	$9,229	$9,339
02/29/2024	$9,076	$9,207
03/31/2024	$9,156	$9,292
04/30/2024	$8,884	$9,057
05/31/2024	$9,048	$9,211
06/30/2024	$9,153	$9,298
07/31/2024	$9,393	$9,515
08/31/2024	$9,549	$9,652
09/30/2024	$9,677	$9,781
10/31/2024	$9,391	$9,539
11/30/2024	$9,507	$9,640
12/31/2024	$9,326	$9,482
01/31/2025	$9,382	$9,532
02/28/2025	$9,628	$9,742
03/31/2025	$9,613	$9,746
04/30/2025	$9,656	$9,784
05/31/2025	$9,573	$9,714
06/30/2025	$9,744	$9,863
07/31/2025	$9,707	$9,837
08/31/2025	$9,837	$9,955
09/30/2025	$9,950	$10,063
10/31/2025	$10,019	$10,126
11/30/2025	$10,078	$10,189
12/31/2025	$10,047	$10,174
01/31/2026	$10,072	$10,185
02/28/2026	$10,250	$10,352
03/31/2026	$10,045	$10,169

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	Since Inception 03/06/20
Class I-2	4.50%	-0.03%	0.07%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	3.97%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Class I-2: MWTTX

TSR MWTTX-0326

TCW MetWest Total Return Bond Fund

Class I-3: MWTZX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Total Return Bond Fund (the "Fund") for the period of August 26, 2025 (commencement of operations) to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I-3	$36Footnote Reference+	0.59%Footnote Reference*

Footnote	Description
Footnote*	Annualized.
Footnote+	The dollar amounts above reflect expenses paid since the commencement of operations. Expenses for the full reporting period would be higher.

How did the Fund perform last year and what affected its performance?

Relative outperformance versus the Bloomberg U.S. Aggregate Bond Index was largely supported by residential MBS, including the overweight to agency MBS, which was one of the top-performing sectors over the period amid reduced rate volatility as Fed easing continued, and a positive tailwind from government-sponsored purchase programs announced in late 2025 and early 2026. Lower coupon issues outperformed on the heels of the announcement in early 2026, prompting a trimming of Fund exposure to that part of the coupon stack in favor of belly coupons that offer incrementally more carry while still protecting against prepayment risk. Non-agency MBS positions were also significant to outperformance, with allocations to newer, re-securitized issues contributing the most, though both legacy and “2.0” collateral benefitted from compelling yields and strong carry. Additional small contributions came from overweight positions across securitized credit – CMBS and ABS – which finished the period in firmly positive territory and outpaced Treasuries on a duration-adjusted.  Offsetting the overweight to securitized credits was an underweight to corporate credit, which was a headwind as corporate spreads moved tighter on continued investor demand for yield. Issue selection among corporates was positive, however, due to additions made during the volatility in April that were subsequently trimmed to capture gains. Finally, against a backdrop of continued Fed easing and steepening of the yield curve, the Fund’s longer-than-Index duration position and emphasis on front-end yields contributed to relative returns.

Fund Performance

Table Summary

	Class I-3	Bloomberg U.S. Aggregate Bond Index
08/26/2025	$10,000	$10,000
08/2025	$10,034	$10,120
09/2025	$10,141	$10,230
10/2025	$10,217	$10,294
11/2025	$10,284	$10,358
12/2025	$10,243	$10,343
01/2026	$10,278	$10,354
02/2026	$10,446	$10,523
03/2026	$10,248	$10,338

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	Since Inception 08/26/25
Class I-3	2.48%
Bloomberg U.S. Aggregate Bond Index	3.97%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$29,725,896,808
• # of Portfolio Holdings1,627
• Portfolio Turnover Rate405%
• Total Advisory Fees Paid - Net$107,529,300

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Agency	36.8%
U.S. Treasury Securities	23.1%
Corporate Bonds	16.9%
Short-Term Investments	13.9%
Residential Mortgage-Backed Securities - Non-Agency	9.3%
Asset-Backed Securities	4.9%
Commercial Mortgage-Backed Securities - Non-Agency	3.7%
Foreign Government Bonds	2.8%
Other Security TypesFootnote Reference*	3.8%
Liabilities in Excess of Other Assets	(15.2%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/31	6.7%
U.S. Treasury Notes, 3.88%, due 03/31/28	3.9%
U.S. Treasury Notes, 4.25%, due 03/31/33	3.4%
U.S. Treasury Bonds, 4.75%, due 02/15/56	3.0%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.0%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	2.4%
U.S. Treasury Notes, 4.13%, due 02/15/36	2.2%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	2.0%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	1.4%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Total Return Bond Fund

Annual Shareholder Report — March 31, 2026

Class I-3: MWTZX

TSR MWTZX-0326

TCW MetWest Ultra Short Bond Fund

Class I: MWUIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Ultra Short Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$35	0.34%

How did the Fund perform last year and what affected its performance?

The overweight duration position and focus on the front end of the yield curve significantly contributed to outperformance versus the ICE BofA 1-Year U.S. Treasury Index as the yield curve steepened and shorter maturity yields declined. Diversified exposure to fixed income spread sectors also supported relative performance, led by securitized products. Residential mortgage-backed securities (MBS) added value as the agency MBS sector was one of the top-performing fixed income sectors over the year, while non-agency MBS benefited from steady income and attractive yield premiums, enhancing the Fund’s yield profile. Non-agency commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) further contributed, driven by single-asset, single-borrower (SASB) CMBS deals, collateralized loan obligations (CLOs), and ABS linked to digital infrastructure. Corporate credit exposure—particularly the emphasis on financials—also boosted returns, with both investment grade and high yield outperforming duration-matched Treasuries.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-Year U.S. Treasury Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,008	$10,038	$10,010
05/2016	$10,016	$10,041	$10,006
06/2016	$10,048	$10,221	$10,029
07/2016	$10,033	$10,286	$10,029
08/2016	$10,043	$10,274	$10,028
09/2016	$10,052	$10,268	$10,035
10/2016	$10,063	$10,190	$10,040
11/2016	$10,072	$9,949	$10,033
12/2016	$10,076	$9,963	$10,040
01/2017	$10,088	$9,982	$10,054
02/2017	$10,097	$10,049	$10,060
03/2017	$10,106	$10,044	$10,056
04/2017	$10,116	$10,122	$10,064
05/2017	$10,150	$10,199	$10,066
06/2017	$10,137	$10,189	$10,070
07/2017	$10,171	$10,233	$10,083
08/2017	$10,182	$10,325	$10,093
09/2017	$10,192	$10,276	$10,095
10/2017	$10,178	$10,282	$10,099
11/2017	$10,188	$10,268	$10,093
12/2017	$10,200	$10,316	$10,097
01/2018	$10,189	$10,197	$10,102
02/2018	$10,201	$10,100	$10,105
03/2018	$10,215	$10,165	$10,122
04/2018	$10,230	$10,089	$10,128
05/2018	$10,247	$10,161	$10,150
06/2018	$10,264	$10,149	$10,162
07/2018	$10,257	$10,151	$10,176
08/2018	$10,299	$10,216	$10,198
09/2018	$10,294	$10,151	$10,204
10/2018	$10,315	$10,070	$10,225
11/2018	$10,335	$10,131	$10,248
12/2018	$10,380	$10,317	$10,284
01/2019	$10,402	$10,426	$10,312
02/2019	$10,424	$10,420	$10,333
03/2019	$10,474	$10,620	$10,369
04/2019	$10,501	$10,623	$10,392
05/2019	$10,527	$10,812	$10,424
06/2019	$10,554	$10,947	$10,466
07/2019	$10,580	$10,971	$10,472
08/2019	$10,607	$11,256	$10,512
09/2019	$10,633	$11,196	$10,524
10/2019	$10,656	$11,230	$10,560
11/2019	$10,655	$11,224	$10,566
12/2019	$10,677	$11,216	$10,586
01/2020	$10,727	$11,432	$10,611
02/2020	$10,771	$11,638	$10,662
03/2020	$10,660	$11,569	$10,768
04/2020	$10,722	$11,775	$10,763
05/2020	$10,731	$11,830	$10,760
06/2020	$10,765	$11,904	$10,765
07/2020	$10,771	$12,082	$10,770
08/2020	$10,803	$11,984	$10,769
09/2020	$10,808	$11,978	$10,773
10/2020	$10,812	$11,924	$10,773
11/2020	$10,817	$12,041	$10,778
12/2020	$10,822	$12,058	$10,779
01/2021	$10,827	$11,971	$10,781
02/2021	$10,832	$11,799	$10,783
03/2021	$10,812	$11,651	$10,786
04/2021	$10,843	$11,743	$10,789
05/2021	$10,851	$11,782	$10,790
06/2021	$10,832	$11,864	$10,789
07/2021	$10,838	$11,997	$10,792
08/2021	$10,845	$11,974	$10,792
09/2021	$10,848	$11,871	$10,791
10/2021	$10,853	$11,867	$10,788
11/2021	$10,832	$11,902	$10,783
12/2021	$10,839	$11,872	$10,771
01/2022	$10,795	$11,616	$10,743
02/2022	$10,774	$11,487	$10,726
03/2022	$10,681	$11,168	$10,685
04/2022	$10,613	$10,744	$10,665
05/2022	$10,651	$10,813	$10,688
06/2022	$10,590	$10,643	$10,634
07/2022	$10,661	$10,903	$10,652
08/2022	$10,630	$10,595	$10,627
09/2022	$10,497	$10,138	$10,581
10/2022	$10,445	$10,006	$10,587
11/2022	$10,574	$10,374	$10,619
12/2022	$10,580	$10,327	$10,661
01/2023	$10,714	$10,645	$10,698
02/2023	$10,665	$10,370	$10,701
03/2023	$10,777	$10,633	$10,794
04/2023	$10,813	$10,698	$10,813
05/2023	$10,797	$10,581	$10,814
06/2023	$10,782	$10,544	$10,839
07/2023	$10,821	$10,536	$10,889
08/2023	$10,862	$10,469	$10,932
09/2023	$10,824	$10,203	$10,970
10/2023	$10,815	$10,042	$11,018
11/2023	$10,991	$10,497	$11,088
12/2023	$11,141	$10,898	$11,166
01/2024	$11,211	$10,868	$11,210
02/2024	$11,171	$10,715	$11,214
03/2024	$11,241	$10,814	$11,258
04/2024	$11,199	$10,541	$11,282
05/2024	$11,272	$10,719	$11,335
06/2024	$11,342	$10,821	$11,383
07/2024	$11,497	$11,074	$11,466
08/2024	$11,594	$11,233	$11,538
09/2024	$11,682	$11,383	$11,614
10/2024	$11,615	$11,101	$11,611
11/2024	$11,691	$11,218	$11,644
12/2024	$11,706	$11,035	$11,696
01/2025	$11,776	$11,093	$11,732
02/2025	$11,871	$11,337	$11,776
03/2025	$11,914	$11,342	$11,819
04/2025	$11,979	$11,386	$11,871
05/2025	$11,997	$11,305	$11,877
06/2025	$12,069	$11,478	$11,926
07/2025	$12,110	$11,448	$11,942
08/2025	$12,212	$11,585	$12,012
09/2025	$12,255	$11,711	$12,061
10/2025	$12,297	$11,785	$12,093
11/2025	$12,337	$11,858	$12,136
12/2025	$12,395	$11,840	$12,181
01/2026	$12,457	$11,853	$12,211
02/2026	$12,486	$12,047	$12,243
03/2026	$12,466	$11,835	$12,253

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	4.63%	2.89%	2.23%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA 1-Year U.S. Treasury Index	3.67%	2.58%	2.05%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$41,513,347
• # of Portfolio Holdings241
• Portfolio Turnover Rate552%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

U.S. Treasury Securities	25.8%
Corporate Bonds	25.7%
Residential Mortgage-Backed Securities - Agency	21.1%
Asset-Backed Securities	13.3%
Short-Term Investments	12.0%
Commercial Mortgage-Backed Securities - Non-Agency	5.4%
Residential Mortgage-Backed Securities - Non-Agency	4.1%
U.S. Government Agency Obligations	3.6%
Other Security TypesFootnote Reference*	2.5%
Liabilities in Excess of Other Assets	(13.5%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	23.8%
U.S. International Development Finance Corp., 1.49%, due 08/15/31	3.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.5%
Bank of America Corp., 3.82%, due 01/20/28 (3 mo. USD Term SOFR + 1.837%)	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.2%
Citigroup, Inc., 1.46%, due 06/09/27 (1 day USD SOFR + 0.770%)	2.0%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.7%
Morgan Stanley Private Bank NA, 4.20%, due 11/17/28 (1 day USD SOFR + 0.780%)	1.5%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.4%
Wells Fargo & Co., 2.39%, due 06/02/28 (1 day USD SOFR + 2.100%)	1.3%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Ultra Short Bond Fund

Annual Shareholder Report — March 31, 2026

Class I: MWUIX

TSR MWUIX-0326

TCW MetWest Ultra Short Bond Fund

Class M: MWUSX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Ultra Short Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$51	0.50%

How did the Fund perform last year and what affected its performance?

The overweight duration position and focus on the front end of the yield curve significantly contributed to outperformance versus the ICE BofA 1-Year U.S. Treasury Index as the yield curve steepened and shorter maturity yields declined. Diversified exposure to fixed income spread sectors also supported relative performance, led by securitized products. Residential mortgage-backed securities (MBS) added value as the agency MBS sector was one of the top-performing fixed income sectors over the year, while non-agency MBS benefited from steady income and attractive yield premiums, enhancing the Fund’s yield profile. Non-agency commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) further contributed, driven by single-asset, single-borrower (SASB) CMBS deals, collateralized loan obligations (CLOs), and ABS linked to digital infrastructure. Corporate credit exposure—particularly the emphasis on financials—also boosted returns, with both investment grade and high yield outperforming duration-matched Treasuries.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	ICE BofA 1-Year U.S. Treasury Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,030	$10,038	$10,010
05/2016	$10,014	$10,041	$10,006
06/2016	$10,044	$10,221	$10,029
07/2016	$10,051	$10,286	$10,029
08/2016	$10,059	$10,274	$10,028
09/2016	$10,068	$10,268	$10,035
10/2016	$10,077	$10,190	$10,040
11/2016	$10,061	$9,949	$10,033
12/2016	$10,088	$9,963	$10,040
01/2017	$10,098	$9,982	$10,054
02/2017	$10,106	$10,049	$10,060
03/2017	$10,114	$10,044	$10,056
04/2017	$10,123	$10,122	$10,064
05/2017	$10,131	$10,199	$10,066
06/2017	$10,140	$10,189	$10,070
07/2017	$10,149	$10,233	$10,083
08/2017	$10,159	$10,325	$10,093
09/2017	$10,168	$10,276	$10,095
10/2017	$10,176	$10,282	$10,099
11/2017	$10,161	$10,268	$10,093
12/2017	$10,172	$10,316	$10,097
01/2018	$10,183	$10,197	$10,102
02/2018	$10,170	$10,100	$10,105
03/2018	$10,182	$10,165	$10,122
04/2018	$10,196	$10,089	$10,128
05/2018	$10,211	$10,161	$10,150
06/2018	$10,227	$10,149	$10,162
07/2018	$10,242	$10,151	$10,176
08/2018	$10,259	$10,216	$10,198
09/2018	$10,253	$10,151	$10,204
10/2018	$10,272	$10,070	$10,225
11/2018	$10,291	$10,131	$10,248
12/2018	$10,335	$10,317	$10,284
01/2019	$10,379	$10,426	$10,312
02/2019	$10,376	$10,420	$10,333
03/2019	$10,424	$10,620	$10,369
04/2019	$10,450	$10,623	$10,392
05/2019	$10,474	$10,812	$10,424
06/2019	$10,524	$10,947	$10,466
07/2019	$10,524	$10,971	$10,472
08/2019	$10,574	$11,256	$10,512
09/2019	$10,574	$11,196	$10,524
10/2019	$10,595	$11,230	$10,560
11/2019	$10,618	$11,224	$10,566
12/2019	$10,638	$11,216	$10,586
01/2020	$10,662	$11,432	$10,611
02/2020	$10,703	$11,638	$10,662
03/2020	$10,617	$11,569	$10,768
04/2020	$10,652	$11,775	$10,763
05/2020	$10,685	$11,830	$10,760
06/2020	$10,717	$11,904	$10,765
07/2020	$10,722	$12,082	$10,770
08/2020	$10,726	$11,984	$10,769
09/2020	$10,731	$11,978	$10,773
10/2020	$10,733	$11,924	$10,773
11/2020	$10,736	$12,041	$10,778
12/2020	$10,765	$12,058	$10,779
01/2021	$10,768	$11,971	$10,781
02/2021	$10,747	$11,799	$10,783
03/2021	$10,726	$11,651	$10,786
04/2021	$10,755	$11,743	$10,789
05/2021	$10,762	$11,782	$10,790
06/2021	$10,767	$11,864	$10,789
07/2021	$10,771	$11,997	$10,792
08/2021	$10,751	$11,974	$10,792
09/2021	$10,753	$11,871	$10,791
10/2021	$10,756	$11,867	$10,788
11/2021	$10,734	$11,902	$10,783
12/2021	$10,740	$11,872	$10,771
01/2022	$10,719	$11,616	$10,743
02/2022	$10,672	$11,487	$10,726
03/2022	$10,604	$11,168	$10,685
04/2022	$10,510	$10,744	$10,665
05/2022	$10,571	$10,813	$10,688
06/2022	$10,509	$10,643	$10,634
07/2022	$10,578	$10,903	$10,652
08/2022	$10,520	$10,595	$10,627
09/2022	$10,387	$10,138	$10,581
10/2022	$10,359	$10,006	$10,587
11/2022	$10,461	$10,374	$10,619
12/2022	$10,491	$10,327	$10,661
01/2023	$10,622	$10,645	$10,698
02/2023	$10,547	$10,370	$10,701
03/2023	$10,656	$10,633	$10,794
04/2023	$10,690	$10,698	$10,813
05/2023	$10,673	$10,581	$10,814
06/2023	$10,657	$10,544	$10,839
07/2023	$10,693	$10,536	$10,889
08/2023	$10,732	$10,469	$10,932
09/2023	$10,693	$10,203	$10,970
10/2023	$10,710	$10,042	$11,018
11/2023	$10,882	$10,497	$11,088
12/2023	$11,002	$10,898	$11,166
01/2024	$11,070	$10,868	$11,210
02/2024	$11,057	$10,715	$11,214
03/2024	$11,097	$10,814	$11,258
04/2024	$11,054	$10,541	$11,282
05/2024	$11,152	$10,719	$11,335
06/2024	$11,192	$10,821	$11,383
07/2024	$11,343	$11,074	$11,466
08/2024	$11,439	$11,233	$11,538
09/2024	$11,523	$11,383	$11,614
10/2024	$11,483	$11,101	$11,611
11/2024	$11,529	$11,218	$11,644
12/2024	$11,570	$11,035	$11,696
01/2025	$11,610	$11,093	$11,732
02/2025	$11,702	$11,337	$11,776
03/2025	$11,743	$11,342	$11,819
04/2025	$11,805	$11,386	$11,871
05/2025	$11,822	$11,305	$11,877
06/2025	$11,891	$11,478	$11,926
07/2025	$11,901	$11,448	$11,942
08/2025	$12,000	$11,585	$12,012
09/2025	$12,069	$11,711	$12,061
10/2025	$12,109	$11,785	$12,093
11/2025	$12,147	$11,858	$12,136
12/2025	$12,203	$11,840	$12,181
01/2026	$12,262	$11,853	$12,211
02/2026	$12,289	$12,047	$12,243
03/2026	$12,267	$11,835	$12,253

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	4.47%	2.72%	2.06%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
ICE BofA 1-Year U.S. Treasury Index	3.67%	2.58%	2.05%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$41,513,347
• # of Portfolio Holdings241
• Portfolio Turnover Rate552%
• Total Advisory Fees Paid - Net$0

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

U.S. Treasury Securities	25.8%
Corporate Bonds	25.7%
Residential Mortgage-Backed Securities - Agency	21.1%
Asset-Backed Securities	13.3%
Short-Term Investments	12.0%
Commercial Mortgage-Backed Securities - Non-Agency	5.4%
Residential Mortgage-Backed Securities - Non-Agency	4.1%
U.S. Government Agency Obligations	3.6%
Other Security TypesFootnote Reference*	2.5%
Liabilities in Excess of Other Assets	(13.5%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

U.S. Treasury Notes, 3.88%, due 03/31/28	23.8%
U.S. International Development Finance Corp., 1.49%, due 08/15/31	3.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.5%
Bank of America Corp., 3.82%, due 01/20/28 (3 mo. USD Term SOFR + 1.837%)	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.2%
Citigroup, Inc., 1.46%, due 06/09/27 (1 day USD SOFR + 0.770%)	2.0%
U.S. Treasury Notes, 3.50%, due 03/15/29	1.7%
Morgan Stanley Private Bank NA, 4.20%, due 11/17/28 (1 day USD SOFR + 0.780%)	1.5%
JPMorgan Chase & Co., 3.78%, due 02/01/28 (3 mo. USD Term SOFR + 1.599%)	1.4%
Wells Fargo & Co., 2.39%, due 06/02/28 (1 day USD SOFR + 2.100%)	1.3%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Ultra Short Bond Fund

Annual Shareholder Report — March 31, 2026

Class M: MWUSX

TSR MWUSX-0326

TCW MetWest Unconstrained Bond Fund

Class I: MWCIX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Unconstrained Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I	$74	0.72%

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove strong outperformance versus the Bloomberg U.S. Treasury Bills 1-3 Months Index over the period. Securitized products were the largest contributor, led by non-agency mortgage-backed securities (MBS), where steady income, attractive yield premiums, and resilient collateral performance supported returns. Commercial MBS (CMBS) also contributed meaningfully, with positioning focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset backed securities (ABS) contributed further given diversified exposure to non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Treasury Bills: 1-3 Months Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,079	$10,038	$10,002
05/2016	$10,108	$10,041	$10,002
06/2016	$10,154	$10,221	$10,005
07/2016	$10,219	$10,286	$10,007
08/2016	$10,257	$10,274	$10,010
09/2016	$10,295	$10,268	$10,013
10/2016	$10,309	$10,190	$10,015
11/2016	$10,288	$9,949	$10,016
12/2016	$10,315	$9,963	$10,020
01/2017	$10,371	$9,982	$10,024
02/2017	$10,415	$10,049	$10,028
03/2017	$10,443	$10,044	$10,030
04/2017	$10,474	$10,122	$10,036
05/2017	$10,526	$10,199	$10,042
06/2017	$10,566	$10,189	$10,050
07/2017	$10,597	$10,233	$10,058
08/2017	$10,647	$10,325	$10,066
09/2017	$10,663	$10,276	$10,075
10/2017	$10,684	$10,282	$10,084
11/2017	$10,698	$10,268	$10,092
12/2017	$10,725	$10,316	$10,101
01/2018	$10,722	$10,197	$10,112
02/2018	$10,698	$10,100	$10,122
03/2018	$10,704	$10,165	$10,135
04/2018	$10,701	$10,089	$10,149
05/2018	$10,732	$10,161	$10,164
06/2018	$10,736	$10,149	$10,179
07/2018	$10,778	$10,151	$10,196
08/2018	$10,820	$10,216	$10,212
09/2018	$10,837	$10,151	$10,229
10/2018	$10,815	$10,070	$10,247
11/2018	$10,802	$10,131	$10,266
12/2018	$10,829	$10,317	$10,286
01/2019	$10,949	$10,426	$10,306
02/2019	$11,002	$10,420	$10,325
03/2019	$11,089	$10,620	$10,347
04/2019	$11,155	$10,623	$10,367
05/2019	$11,211	$10,812	$10,389
06/2019	$11,316	$10,947	$10,411
07/2019	$11,342	$10,971	$10,430
08/2019	$11,428	$11,256	$10,448
09/2019	$11,437	$11,196	$10,467
10/2019	$11,474	$11,230	$10,485
11/2019	$11,496	$11,224	$10,498
12/2019	$11,530	$11,216	$10,513
01/2020	$11,619	$11,432	$10,526
02/2020	$11,642	$11,638	$10,540
03/2020	$10,855	$11,569	$10,562
04/2020	$11,138	$11,775	$10,562
05/2020	$11,354	$11,830	$10,563
06/2020	$11,542	$11,904	$10,564
07/2020	$11,699	$12,082	$10,566
08/2020	$11,763	$11,984	$10,566
09/2020	$11,780	$11,978	$10,567
10/2020	$11,818	$11,924	$10,568
11/2020	$11,984	$12,041	$10,569
12/2020	$12,082	$12,058	$10,570
01/2021	$12,117	$11,971	$10,571
02/2021	$12,121	$11,799	$10,571
03/2021	$12,087	$11,651	$10,572
04/2021	$12,163	$11,743	$10,572
05/2021	$12,200	$11,782	$10,572
06/2021	$12,227	$11,864	$10,572
07/2021	$12,274	$11,997	$10,572
08/2021	$12,281	$11,974	$10,573
09/2021	$12,266	$11,871	$10,573
10/2021	$12,221	$11,867	$10,573
11/2021	$12,187	$11,902	$10,574
12/2021	$12,209	$11,872	$10,574
01/2022	$12,094	$11,616	$10,574
02/2022	$11,968	$11,487	$10,575
03/2022	$11,738	$11,168	$10,578
04/2022	$11,519	$10,744	$10,580
05/2022	$11,507	$10,813	$10,585
06/2022	$11,221	$10,643	$10,591
07/2022	$11,444	$10,903	$10,599
08/2022	$11,363	$10,595	$10,619
09/2022	$11,032	$10,138	$10,641
10/2022	$10,942	$10,006	$10,664
11/2022	$11,180	$10,374	$10,697
12/2022	$11,211	$10,327	$10,735
01/2023	$11,543	$10,645	$10,771
02/2023	$11,379	$10,370	$10,809
03/2023	$11,544	$10,633	$10,852
04/2023	$11,628	$10,698	$10,894
05/2023	$11,580	$10,581	$10,938
06/2023	$11,566	$10,544	$10,985
07/2023	$11,643	$10,536	$11,033
08/2023	$11,664	$10,469	$11,083
09/2023	$11,526	$10,203	$11,133
10/2023	$11,400	$10,042	$11,184
11/2023	$11,767	$10,497	$11,234
12/2023	$12,094	$10,898	$11,286
01/2024	$12,165	$10,868	$11,336
02/2024	$12,112	$10,715	$11,383
03/2024	$12,234	$10,814	$11,435
04/2024	$12,076	$10,541	$11,485
05/2024	$12,246	$10,719	$11,541
06/2024	$12,342	$10,821	$11,589
07/2024	$12,573	$11,074	$11,641
08/2024	$12,739	$11,233	$11,697
09/2024	$12,902	$11,383	$11,747
10/2024	$12,740	$11,101	$11,793
11/2024	$12,883	$11,218	$11,840
12/2024	$12,819	$11,035	$11,887
01/2025	$12,914	$11,093	$11,931
02/2025	$13,101	$11,337	$11,970
03/2025	$13,129	$11,342	$12,011
04/2025	$13,162	$11,386	$12,053
05/2025	$13,235	$11,305	$12,098
06/2025	$13,393	$11,478	$12,139
07/2025	$13,416	$11,448	$12,184
08/2025	$13,547	$11,585	$12,231
09/2025	$13,667	$11,711	$12,272
10/2025	$13,740	$11,785	$12,317
11/2025	$13,815	$11,858	$12,354
12/2025	$13,854	$11,840	$12,397
01/2026	$13,916	$11,853	$12,434
02/2026	$14,013	$12,047	$12,469
03/2026	$13,900	$11,835	$12,506

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class I	5.87%	2.83%	3.35%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
Bloomberg U.S. Treasury Bills: 1-3 Months Index	4.12%	3.42%	2.26%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$2,667,833,718
• # of Portfolio Holdings1,021
• Portfolio Turnover Rate254%
• Total Advisory Fees Paid - Net$16,840,251

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	26.6%
Residential Mortgage-Backed Securities - Agency	24.5%
Corporate Bonds	20.5%
Commercial Mortgage-Backed Securities - Non-Agency	12.5%
Asset-Backed Securities	10.3%
Short-Term Investments	8.3%
Bank Loans	4.3%
Foreign Government Bonds	3.9%
Other Security TypesFootnote Reference*	3.2%
Liabilities in Excess of Other Assets	(14.1%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	3.7%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.0%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	1.9%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.6%
Federal Home Loan Mortgage Corp., 4.50%, due 12/01/52	1.0%
Federal Home Loan Mortgage Corp., 4.00%, due 11/01/52	0.8%
U.K. Gilts, 4.38%, due 03/07/28	0.7%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Unconstrained Bond Fund

Annual Shareholder Report — March 31, 2026

Class I: MWCIX

TSR MWCIX-0326

TCW MetWest Unconstrained Bond Fund

Class M: MWCRX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Unconstrained Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class M	$106	1.03%

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove strong outperformance versus the Bloomberg U.S. Treasury Bills 1-3 Months Index over the period. Securitized products were the largest contributor, led by non-agency mortgage-backed securities (MBS), where steady income, attractive yield premiums, and resilient collateral performance supported returns. Commercial MBS (CMBS) also contributed meaningfully, with positioning focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset backed securities (ABS) contributed further given diversified exposure to non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class M	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Treasury Bills: 1-3 Months Index
03/2016	$10,000	$10,000	$10,000
04/2016	$10,077	$10,038	$10,002
05/2016	$10,103	$10,041	$10,002
06/2016	$10,146	$10,221	$10,005
07/2016	$10,208	$10,286	$10,007
08/2016	$10,243	$10,274	$10,010
09/2016	$10,279	$10,268	$10,013
10/2016	$10,289	$10,190	$10,015
11/2016	$10,266	$9,949	$10,016
12/2016	$10,290	$9,963	$10,020
01/2017	$10,334	$9,982	$10,024
02/2017	$10,385	$10,049	$10,028
03/2017	$10,411	$10,044	$10,030
04/2017	$10,439	$10,122	$10,036
05/2017	$10,488	$10,199	$10,042
06/2017	$10,525	$10,189	$10,050
07/2017	$10,554	$10,233	$10,058
08/2017	$10,601	$10,325	$10,066
09/2017	$10,613	$10,276	$10,075
10/2017	$10,632	$10,282	$10,084
11/2017	$10,643	$10,268	$10,092
12/2017	$10,667	$10,316	$10,101
01/2018	$10,661	$10,197	$10,112
02/2018	$10,634	$10,100	$10,122
03/2018	$10,637	$10,165	$10,135
04/2018	$10,641	$10,089	$10,149
05/2018	$10,661	$10,161	$10,164
06/2018	$10,662	$10,149	$10,179
07/2018	$10,701	$10,151	$10,196
08/2018	$10,740	$10,216	$10,212
09/2018	$10,755	$10,151	$10,229
10/2018	$10,730	$10,070	$10,247
11/2018	$10,715	$10,131	$10,266
12/2018	$10,739	$10,317	$10,286
01/2019	$10,855	$10,426	$10,306
02/2019	$10,905	$10,420	$10,325
03/2019	$10,990	$10,620	$10,347
04/2019	$11,052	$10,623	$10,367
05/2019	$11,105	$10,812	$10,389
06/2019	$11,206	$10,947	$10,411
07/2019	$11,230	$10,971	$10,430
08/2019	$11,311	$11,256	$10,448
09/2019	$11,318	$11,196	$10,467
10/2019	$11,351	$11,230	$10,485
11/2019	$11,371	$11,224	$10,498
12/2019	$11,402	$11,216	$10,513
01/2020	$11,487	$11,432	$10,526
02/2020	$11,518	$11,638	$10,540
03/2020	$10,718	$11,569	$10,562
04/2020	$11,005	$11,775	$10,562
05/2020	$11,216	$11,830	$10,563
06/2020	$11,399	$11,904	$10,564
07/2020	$11,551	$12,082	$10,566
08/2020	$11,612	$11,984	$10,566
09/2020	$11,626	$11,978	$10,567
10/2020	$11,661	$11,924	$10,568
11/2020	$11,832	$12,041	$10,569
12/2020	$11,916	$12,058	$10,570
01/2021	$11,957	$11,971	$10,571
02/2021	$11,948	$11,799	$10,571
03/2021	$11,912	$11,651	$10,572
04/2021	$11,985	$11,743	$10,572
05/2021	$12,018	$11,782	$10,572
06/2021	$12,041	$11,864	$10,572
07/2021	$12,085	$11,997	$10,572
08/2021	$12,089	$11,974	$10,573
09/2021	$12,072	$11,871	$10,573
10/2021	$12,025	$11,867	$10,573
11/2021	$11,989	$11,902	$10,574
12/2021	$12,008	$11,872	$10,574
01/2022	$11,892	$11,616	$10,574
02/2022	$11,765	$11,487	$10,575
03/2022	$11,537	$11,168	$10,578
04/2022	$11,319	$10,744	$10,580
05/2022	$11,305	$10,813	$10,585
06/2022	$11,021	$10,643	$10,591
07/2022	$11,238	$10,903	$10,599
08/2022	$11,156	$10,595	$10,619
09/2022	$10,829	$10,138	$10,641
10/2022	$10,738	$10,006	$10,664
11/2022	$10,969	$10,374	$10,697
12/2022	$10,997	$10,327	$10,735
01/2023	$11,320	$10,645	$10,771
02/2023	$11,145	$10,370	$10,809
03/2023	$11,315	$10,633	$10,852
04/2023	$11,394	$10,698	$10,894
05/2023	$11,345	$10,581	$10,938
06/2023	$11,329	$10,544	$10,985
07/2023	$11,402	$10,536	$11,033
08/2023	$11,419	$10,469	$11,083
09/2023	$11,282	$10,203	$11,133
10/2023	$11,156	$10,042	$11,184
11/2023	$11,513	$10,497	$11,234
12/2023	$11,818	$10,898	$11,286
01/2024	$11,896	$10,868	$11,336
02/2024	$11,841	$10,715	$11,383
03/2024	$11,957	$10,814	$11,435
04/2024	$11,800	$10,541	$11,485
05/2024	$11,963	$10,719	$11,541
06/2024	$12,054	$10,821	$11,589
07/2024	$12,265	$11,074	$11,641
08/2024	$12,436	$11,233	$11,697
09/2024	$12,592	$11,383	$11,747
10/2024	$12,431	$11,101	$11,793
11/2024	$12,556	$11,218	$11,840
12/2024	$12,502	$11,035	$11,887
01/2025	$12,591	$11,093	$11,931
02/2025	$12,771	$11,337	$11,970
03/2025	$12,797	$11,342	$12,011
04/2025	$12,825	$11,386	$12,053
05/2025	$12,894	$11,305	$12,098
06/2025	$13,045	$11,478	$12,139
07/2025	$13,064	$11,448	$12,184
08/2025	$13,188	$11,585	$12,231
09/2025	$13,302	$11,711	$12,272
10/2025	$13,370	$11,785	$12,317
11/2025	$13,439	$11,858	$12,354
12/2025	$13,473	$11,840	$12,397
01/2026	$13,528	$11,853	$12,434
02/2026	$13,619	$12,047	$12,469
03/2026	$13,506	$11,835	$12,506

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	10 Years
Class M	5.54%	2.54%	3.05%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	1.70%
Bloomberg U.S. Treasury Bills: 1-3 Months Index	4.12%	3.42%	2.26%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$2,667,833,718
• # of Portfolio Holdings1,021
• Portfolio Turnover Rate254%
• Total Advisory Fees Paid - Net$16,840,251

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	26.6%
Residential Mortgage-Backed Securities - Agency	24.5%
Corporate Bonds	20.5%
Commercial Mortgage-Backed Securities - Non-Agency	12.5%
Asset-Backed Securities	10.3%
Short-Term Investments	8.3%
Bank Loans	4.3%
Foreign Government Bonds	3.9%
Other Security TypesFootnote Reference*	3.2%
Liabilities in Excess of Other Assets	(14.1%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	3.7%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.0%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	1.9%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.6%
Federal Home Loan Mortgage Corp., 4.50%, due 12/01/52	1.0%
Federal Home Loan Mortgage Corp., 4.00%, due 11/01/52	0.8%
U.K. Gilts, 4.38%, due 03/07/28	0.7%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Unconstrained Bond Fund

Annual Shareholder Report — March 31, 2026

Class M: MWCRX

TSR MWCRX-0326

TCW MetWest Unconstrained Bond Fund

Plan Class: MWCPX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Unconstrained Bond Fund (the "Fund") for the period of April 1, 2025 to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Plan Class	$70	0.68%

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove strong outperformance versus the Bloomberg U.S. Treasury Bills 1-3 Months Index over the period. Securitized products were the largest contributor, led by non-agency mortgage-backed securities (MBS), where steady income, attractive yield premiums, and resilient collateral performance supported returns. Commercial MBS (CMBS) also contributed meaningfully, with positioning focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset backed securities (ABS) contributed further given diversified exposure to non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Plan Class	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Treasury Bills: 1-3 Months Index
03/06/2020	$10,000	$10,000	$10,000
03/31/2020	$9,312	$9,941	$10,021
04/30/2020	$9,558	$10,118	$10,021
05/31/2020	$9,744	$10,165	$10,022
06/30/2020	$9,905	$10,229	$10,023
07/31/2020	$10,050	$10,382	$10,024
08/31/2020	$10,097	$10,298	$10,025
09/30/2020	$10,112	$10,292	$10,026
10/31/2020	$10,154	$10,246	$10,027
11/30/2020	$10,296	$10,347	$10,027
12/31/2020	$10,373	$10,361	$10,028
01/31/2021	$10,412	$10,287	$10,029
02/28/2021	$10,406	$10,138	$10,029
03/31/2021	$10,378	$10,012	$10,030
04/30/2021	$10,444	$10,091	$10,030
05/31/2021	$10,484	$10,124	$10,030
06/30/2021	$10,508	$10,195	$10,030
07/31/2021	$10,540	$10,309	$10,030
08/31/2021	$10,547	$10,289	$10,031
09/30/2021	$10,535	$10,200	$10,031
10/31/2021	$10,505	$10,197	$10,031
11/30/2021	$10,468	$10,228	$10,032
12/31/2021	$10,487	$10,201	$10,032
01/31/2022	$10,398	$9,982	$10,033
02/28/2022	$10,281	$9,870	$10,033
03/31/2022	$10,084	$9,596	$10,035
04/30/2022	$9,896	$9,232	$10,038
05/31/2022	$9,887	$9,291	$10,043
06/30/2022	$9,650	$9,146	$10,048
07/31/2022	$9,842	$9,369	$10,056
08/31/2022	$9,764	$9,104	$10,075
09/30/2022	$9,480	$8,711	$10,095
10/31/2022	$9,412	$8,598	$10,117
11/30/2022	$9,618	$8,914	$10,149
12/31/2022	$9,645	$8,874	$10,185
01/31/2023	$9,931	$9,147	$10,219
02/28/2023	$9,780	$8,911	$10,255
03/31/2023	$9,932	$9,137	$10,296
04/30/2023	$9,995	$9,192	$10,336
05/31/2023	$9,954	$9,092	$10,378
06/30/2023	$9,952	$9,060	$10,422
07/31/2023	$10,019	$9,054	$10,468
08/31/2023	$10,028	$8,996	$10,515
09/30/2023	$9,920	$8,767	$10,562
10/31/2023	$9,811	$8,629	$10,611
11/30/2023	$10,128	$9,020	$10,658
12/31/2023	$10,400	$9,365	$10,708
01/31/2024	$10,472	$9,339	$10,755
02/29/2024	$10,416	$9,207	$10,800
03/31/2024	$10,532	$9,292	$10,849
04/30/2024	$10,386	$9,057	$10,897
05/31/2024	$10,533	$9,211	$10,950
06/30/2024	$10,626	$9,298	$10,995
07/31/2024	$10,815	$9,515	$11,045
08/31/2024	$10,969	$9,652	$11,098
09/30/2024	$11,110	$9,781	$11,145
10/31/2024	$10,971	$9,539	$11,189
11/30/2024	$11,084	$9,640	$11,233
12/31/2024	$11,040	$9,482	$11,278
01/31/2025	$11,122	$9,532	$11,320
02/28/2025	$11,284	$9,742	$11,357
03/31/2025	$11,310	$9,746	$11,395
04/30/2025	$11,327	$9,784	$11,435
05/31/2025	$11,401	$9,714	$11,478
06/30/2025	$11,539	$9,863	$11,517
07/31/2025	$11,559	$9,837	$11,560
08/31/2025	$11,672	$9,955	$11,604
09/30/2025	$11,765	$10,063	$11,644
10/31/2025	$11,840	$10,126	$11,686
11/30/2025	$11,905	$10,189	$11,721
12/31/2025	$11,927	$10,174	$11,761
01/31/2026	$11,991	$10,185	$11,797
02/28/2026	$12,064	$10,352	$11,830
03/31/2026	$11,979	$10,169	$11,865

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	1 Year	5 Years	Since Inception 03/06/20
Plan Class	5.92%	2.91%	3.02%
Bloomberg U.S. Aggregate Bond Index	4.35%	0.31%	3.97%
Bloomberg U.S. Treasury Bills: 1-3 Months Index	4.12%	3.42%	1.57%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$2,667,833,718
• # of Portfolio Holdings1,021
• Portfolio Turnover Rate254%
• Total Advisory Fees Paid - Net$16,840,251

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	26.6%
Residential Mortgage-Backed Securities - Agency	24.5%
Corporate Bonds	20.5%
Commercial Mortgage-Backed Securities - Non-Agency	12.5%
Asset-Backed Securities	10.3%
Short-Term Investments	8.3%
Bank Loans	4.3%
Foreign Government Bonds	3.9%
Other Security TypesFootnote Reference*	3.2%
Liabilities in Excess of Other Assets	(14.1%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	3.7%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.0%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	1.9%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.6%
Federal Home Loan Mortgage Corp., 4.50%, due 12/01/52	1.0%
Federal Home Loan Mortgage Corp., 4.00%, due 11/01/52	0.8%
U.K. Gilts, 4.38%, due 03/07/28	0.7%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Unconstrained Bond Fund

Annual Shareholder Report — March 31, 2026

Plan Class: MWCPX

TSR MWCPX-0326

TCW MetWest Unconstrained Bond Fund

Class I-3: MWCZX

Annual Shareholder Report — March 31, 2026

This annual shareholder report contains important information about the TCW MetWest Unconstrained Bond Fund (the "Fund") for the period of August 26, 2025 (commencement of operations) to March 31, 2026. You can find additional information about the Fund at www.tcw.com/products/mutual-funds. You can also request this information by contacting us at 800-FUND-TCW (800-386-3829). 

What were the Fund costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary

Class Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Class I-3	$54Footnote Reference+	0.90%Footnote Reference*

Footnote	Description
Footnote*	Annualized.
Footnote+	The dollar amounts above reflect expenses paid since the commencement of operations. Expenses for the full reporting period would be higher.

How did the Fund perform last year and what affected its performance?

Diversified exposure to fixed income spread sectors drove strong outperformance versus the Bloomberg U.S. Treasury Bills 1-3 Months Index over the period. Securitized products were the largest contributor, led by non-agency mortgage-backed securities (MBS), where steady income, attractive yield premiums, and resilient collateral performance supported returns. Commercial MBS (CMBS) also contributed meaningfully, with positioning focused on single-asset, single-borrower (SASB) deal structures that benefitted from strong sponsorship and investor demand for transparent collateral.  Asset backed securities (ABS) contributed further given diversified exposure to non-traditional collateral types and collateralized loan obligations (CLOs) that provided attractive spread and yield premiums.  Corporate credit exposure also rewarded returns as investment grade and high yield issues both finished ahead of comparable Treasuries, with investment grade positions providing the largest boost.  Finally, the overweight duration position and emphasis on the front-end of the yield curve benefitted relative performance as the yield curve steepened and shorter maturity yields declined.

Fund Performance

Table Summary

	Class I-3	Bloomberg U.S. Aggregate Bond Index	Bloomberg U.S. Treasury Bills: 1-3 Months Index
08/26/2025	$10,000	$10,000	$10,000
08/2025	$10,027	$10,120	$10,038
09/2025	$10,107	$10,230	$10,073
10/2025	$10,160	$10,294	$10,109
11/2025	$10,214	$10,358	$10,139
12/2025	$10,239	$10,343	$10,175
01/2026	$10,282	$10,354	$10,205
02/2026	$10,354	$10,523	$10,234
03/2026	$10,274	$10,338	$10,264

The performance data quoted represents past performance and does not guarantee future results. The total returns do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The Fund’s Average Total Returns are based on net asset values calculated for shareholder transactions which are not reflective of adjustments required pursuant to GAAP. Accordingly, differences may exist between this data and similar information reported in the financial statements. 

Average Annual Total Returns (%)

Table Summary

Name	Since Inception 08/26/25
Class I-3	2.74%
Bloomberg U.S. Aggregate Bond Index	3.97%
Bloomberg U.S. Treasury Bills: 1-3 Months Index	1.57%

This table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. The Fund's past performance is not a good predictor of the Fund's future performance.

Key Fund Statistics

• Total Net Assets$2,667,833,718
• # of Portfolio Holdings1,021
• Portfolio Turnover Rate254%
• Total Advisory Fees Paid - Net$16,840,251

What did the Fund invest in? 

Asset Allocation (as a % of Net Assets)

Table Summary

Residential Mortgage-Backed Securities - Non-Agency	26.6%
Residential Mortgage-Backed Securities - Agency	24.5%
Corporate Bonds	20.5%
Commercial Mortgage-Backed Securities - Non-Agency	12.5%
Asset-Backed Securities	10.3%
Short-Term Investments	8.3%
Bank Loans	4.3%
Foreign Government Bonds	3.9%
Other Security TypesFootnote Reference*	3.2%
Liabilities in Excess of Other Assets	(14.1%)

Footnote	Description
Footnote*	Please refer to the Fund’s Annual Financial Statements which are available on the Fund’s website at www.tcw.com/products/mutual-funds for a complete listing of all categories.

Top Ten Holdings (as a % of Net Assets)

Table Summary

Uniform Mortgage-Backed Security, TBA, 4.00%, due 05/01/55	3.7%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 12/01/51	2.7%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 01/01/56	2.4%
Government National Mortgage Association, TBA, 4.00%, due 06/01/55	2.0%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 01/01/56	1.9%
TCW Private Asset Income Fund, Class I	1.7%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 12/01/55	1.6%
Federal Home Loan Mortgage Corp., 4.50%, due 12/01/52	1.0%
Federal Home Loan Mortgage Corp., 4.00%, due 11/01/52	0.8%
U.K. Gilts, 4.38%, due 03/07/28	0.7%

Householding

In order to reduce the amount of mail you receive and to help reduce expenses, we generally send a single copy of any shareholder report to each household. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact 800-FUND-TCW (800-386-3829).

Additional Information 

If you wish to view additional information about the Fund, including but not limited to, the Fund's prospectus, financial information, holdings, proxy voting information, and privacy policy, please visit www.tcw.com/products/mutual-funds.

Phone: 800-FUND-TCW (800-386-3829)

TCW MetWest Unconstrained Bond Fund

Annual Shareholder Report — March 31, 2026

Class I-3: MWCZX

TSR MWCZX-0326

(b) Not applicable.

Item 2. Code of Ethics.

(a) The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

(b) No disclosures are required by this Item 2(b).

(c) There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description.

(d) The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

(e) Not applicable.

(f) A copy of the registrant’s code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as Exhibit 19(a)(1) to this Form N-CSR.

Item 3. Audit Committee Financial Expert.

(a)(1) The registrant’s board of trustees has determined that the registrant has at least one member serving on the registrant’s audit committee (the “Audit Committee”) that possesses the attributes identified in Form N-CSR to qualify as an “audit committee financial expert.”

(a)(2) The audit committee financial experts are Victoria B. Rogers, Robert Rooney, and Michael Swell. Each has been deemed to be “independent” as that term is defined in Form N-CSR.

(a)(3) Not applicable.

Item 4. Principal Accountant Fees and Services.

The firm of Deloitte & Touche LLP (“Deloitte”) serves as the independent registered public accounting firm for the registrant.

(a) Audit Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered by Deloitte for the audit of the registrant’s annual financial statements or services that are normally provided by Deloitte in connection with statutory and regulatory filings or engagements for those fiscal years were $326,000 for 2026 and $358,000 for 2025.

(b) Audit-Related Fees

The aggregate fees billed in each of the last two fiscal years for assurance and related services by Deloitte that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for 2026 and $0 for 2025.

(c) Tax Fees

The aggregate fees billed in each of the last two fiscal years for professional services rendered by Deloitte for tax compliance, tax advice, and tax planning were $43,124 for 2026 and $88,575 for 2025.

These services consisted of tax return review, tax advice and tax planning.

(d) All Other Fees

The aggregate fees billed in each of the last two fiscal years for products and services provided by Deloitte, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2026 and $0 for 2025.

(e) (1) Audit Committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

Pre-Approval Policies and Procedures. The Audit Committee of the registrant is responsible for pre-approving (i) all audit and permissible non-audit services to be provided by the independent auditors to the registrant and (ii) all permissible non-audit services to be provided by the independent auditors to TCW Metropolitan West Funds and any affiliate of TCW Metropolitan West Funds that provides services to the registrant (a “Covered Services Provider”) if the independent

auditors’ engagement relates directly to the operations and financial reporting of the registrant. The Audit Committee may delegate its responsibility to pre-approve any such audit and permissible non-audit services to the Chairperson of the Audit Committee, and the Chairperson must report to the Audit Committee, at its next regularly scheduled meeting after the Chairperson’s pre-approval of such services, his or her decision(s). The Audit Committee may also establish detailed pre-approval policies and procedures for pre-approval of such services in accordance with applicable laws, including the delegation of some or all of the Audit Committee’s pre-approval responsibilities to other persons (other than TCW Metropolitan West Funds or the registrant’s officers). Pre-approval by the Audit Committee of any permissible non-audit services is not required so long as: (i) the aggregate amount of all such permissible non-audit services provided to the registrant, TCW Metropolitan West Funds and any Covered Services Provider constitutes not more than 5% of the total amount of revenues paid by the registrant to its independent auditors during the fiscal year in which the permissible non-audit services are provided; (ii) the permissible non-audit services were not recognized by the registrant at the time of the engagement to be non-audit services; and (iii) such services are promptly brought to the attention of the Audit Committee and approved by the Audit Committee or the Chairperson prior to the completion of the audit.

(2) The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X are as follows:

(b) N/A

(c) 100%

(d) N/A

(f) The percentage of hours expended on Deloitte’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was 0%.

(g) The aggregate non-audit fees billed by Deloitte for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $1,209,881 for 2026 and $970,608 for 2025.

(h) The registrant’s Audit Committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the

investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

(i) Not applicable.

(j) Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a) The Schedule of Investments is included as part of the Reports to Shareholders filed under Item 7(a) of this Form N-CSR.

(b) Not applicable.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

(a) The registrant’s Financial Statements are attached herewith.

 Financial

 Statements

  and Other Information Form N-CSR Items 7-11

  March 31, 2026

TCW Metropolitan West Funds

Table of Contents March 31, 2026

Schedules of Investments	3
High Yield Bond Fund	3
Investment Grade Credit Fund	14
Low Duration Bond Fund	28
Strategic Income Fund	49
Sustainable Securitized Fund	67
Total Return Bond Fund	77
Ultra Short Bond Fund	126
Unconstrained Bond Fund	136
Statements of Assets and Liabilities	171
Statements of Operations	173
Statements of Changes in Net Assets	175
Notes to Financial Statements	179
Financial Highlights	228
Report of Independent Registered Public Accounting Firm	253
Supplemental Information	255

TCW MetWest High Yield Bond Fund

Schedule of Investments March 31, 2026

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 95.9% of Net Assets
CORPORATE BONDS — 89.8%
Advertising — 0.9%
Advantage Sales & Marketing, Inc.
9.00% (1)		11/15/30	$	662,739	$	492,912
Clear Channel Outdoor Holdings, Inc.
7.13% (1)		02/15/31		875,000		918,461
Lamar Media Corp.
5.38% (1)		11/01/33		636,000		626,676
Neptune Bidco U.S., Inc.
10.38% (1)		05/15/31		1,240,000		1,254,930
						3,292,979
Aerospace & Defense — 2.2%
TransDigm, Inc.
6.38% (1)		05/31/33		2,606,000		2,600,345
6.38% (1)		03/01/29		4,143,000		4,229,382
6.75% (1)		01/31/34		620,000		629,151
6.88% (1)		12/15/30		905,000		928,756
						8,387,634
Airlines — 1.0%
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.75% (1)		04/20/29		2,885,000		2,864,978
JetBlue Airways Corp./JetBlue Loyalty LP
9.88% (1)		09/20/31		980,000		927,149
						3,792,127
Apparel — 0.7%
Crocs, Inc.
4.13% (1)		08/15/31		3,144,000		2,841,264
Auto Manufacturers — 0.6%
Allison Transmission, Inc.
3.75% (1)		01/30/31		1,180,000		1,099,182
Aston Martin Capital Holdings Ltd. (Jersey)
10.00% (1)		03/31/29		395,000		304,197
Volkswagen International Finance NV (Germany)
7.88% (9 yr. EUR Swap + 4.783%) (2),(3),(4)		09/06/32	EUR	600,000		765,547
						2,168,926
Auto Parts & Equipment — 0.6%
Cyprium Corp./Cyprium Holdings Luxembourg Sarl
6.38% (1)		04/15/34		2,353,000		2,289,163
Banks — 2.9%
Bank of America Corp.
4.38% (5 yr. CMT + 2.760%) (2),(4)		01/27/27		2,040,000		2,009,951
Bank of New York Mellon Corp.
3.75% (5 yr. CMT + 2.630%) (2),(4)		12/31/99		2,515,000		2,468,271

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
Citigroup, Inc.
6.63% (5 yr. CMT + 3.001%) (2),(4)		02/15/31	$	2,535,000	$	2,536,445
JPMorgan Chase & Co.
3.65% (5 yr. CMT + 2.850%) (2),(4)		12/31/99		805,000		801,901
PNC Financial Services Group, Inc.
3.40% (5 yr. CMT + 2.595%) (2),(4)		09/15/26		3,515,000		3,463,013
						11,279,581
Biotechnology — 0.6%
BioMarin Pharmaceutical, Inc.
5.50% (1)		02/15/34		610,000		599,898
Genmab AS/Genmab Finance LLC
6.25% (1)		12/15/32		1,500,000		1,539,270
						2,139,168
Building Materials — 1.0%
JH North America Holdings, Inc.
5.88% (1)		01/31/31		1,000,000		998,060
6.13% (1)		07/31/32		1,000,000		999,190
Quikrete Holdings, Inc.
6.75% (1)		03/01/33		1,009,000		1,026,536
Standard Building Solutions, Inc.
6.50% (1)		08/15/32		639,000		642,994
						3,666,780
Chemicals — 1.0%
Axalta Coating Systems LLC
3.38% (1)		02/15/29		1,183,000		1,119,863
SCIH Salt Holdings, Inc.
4.88% (1)		05/01/28		1,022,000		1,011,903
WR Grace Holdings LLC
7.00% (1)		08/01/33		540,000		526,840
7.38% (1)		03/01/31		1,035,000		1,038,002
						3,696,608
Commercial Services — 4.2%
ADT Security Corp.
5.88% (1)		10/15/33		1,255,000		1,217,576
Aegis Lux 1a Sarl (Luxemburg)
5.63% (1)		10/29/31	EUR	900,000		1,026,672
Albion Financing 1 SARL/Aggreko Holdings, Inc. (Luxemburg)
7.00% (1)		05/21/30		1,033,000		1,054,435
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.88% (1)		06/15/30		1,200,000		1,219,992
Block, Inc.
6.50%		05/15/32		515,000		518,996

See accompanying Notes to Financial Statements.

3

TCW MetWest High Yield Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Commercial Services (Continued)
Carriage Services, Inc.
4.25% (1)		05/15/29	$	1,400,000	$	1,331,162
Garda World Security Corp. (Canada)
8.38% (1)		11/15/32		620,000		622,536
Grand Canyon University
5.13%		10/01/28		1,710,000		1,700,646
Herc Holdings, Inc.
7.00% (1)		06/15/30		1,550,000		1,594,423
7.25% (1)		06/15/33		450,000		463,109
ION Platform Finance U.S., Inc.
7.88% (1)		09/30/32		300,000		232,812
Prime Security Services Borrower LLC/Prime Finance, Inc.
3.38% (1)		08/31/27		300,000		292,782
Raven Acquisition Holdings LLC
6.88% (1)		11/15/31		1,010,000		980,033
Upbound Group, Inc.
6.38% (1)		02/15/29		420,000		408,290
Valvoline, Inc.
3.63% (1)		06/15/31		1,099,000		997,090
VT Topco, Inc.
8.50% (1)		08/15/30		2,490,000		2,534,596
						16,195,150
Computers — 1.1%
McAfee Corp.
7.38% (1)		02/15/30		1,146,000		946,825
NCR Voyix Corp.
5.13% (1)		04/15/29		2,015,000		1,932,365
Science Applications International Corp.
5.88% (1)		11/01/33		1,485,000		1,455,181
						4,334,371
Cosmetics/Personal Care — 0.4%
Edgewell Personal Care Co.
4.13% (1)		04/01/29		1,502,000		1,420,186
Perrigo Finance Unlimited Co.
5.15%		06/15/30		335,000		302,786
						1,722,972
Diversified Financial Services — 2.8%
American Express Co.
3.55% (5 yr. CMT + 2.854%) (2),(4)		09/15/26		2,150,000		2,125,834
EZCORP, Inc.
7.38% (1)		04/01/32		636,000		664,118
GGAM Finance Ltd. (Ireland)
8.00% (1)		02/15/27		2,605,000		2,629,878
8.00% (1)		06/15/28		352,000		365,323
Jane Street Group/JSG Finance, Inc.
6.13% (1)		11/01/32		4,137,000		4,105,931

Issues	Maturity Date		Principal Amount		Value
Diversified Financial Services (Continued)
7.13% (1)		04/30/31	$	1,000,000	$	1,030,430
						10,921,514
Electric — 5.6%
Alliant Energy Corp.
5.75% (5 yr. CMT + 2.077%) (2)		04/01/56		2,756,000		2,679,852
Alpha Generation LLC
6.25% (1)		01/15/34		1,460,000		1,441,794
6.75% (1)		10/15/32		1,411,000		1,433,604
American Electric Power Co., Inc.
6.05% (5 yr. CMT + 1.940%) (2)		03/15/56		3,445,000		3,418,095
CenterPoint Energy, Inc.
5.95% (5 yr. CMT + 2.223%) (2)		04/01/56		2,700,000		2,671,380
Dominion Energy, Inc.
6.20% (5 yr. CMT + 2.006%) (2)		02/15/56		1,480,000		1,468,441
Entergy Corp.
5.88% (5 yr. CMT + 2.179%) (2)		06/15/56		700,000		691,047
Southern Co.
3.75% (5 yr. CMT + 2.915%) (2)		09/15/51		2,374,000		2,354,058
6.00% (5 yr. CMT + 1.993%) (2)		04/01/58		1,500,000		1,508,385
Vistra Operations Co. LLC
6.88% (1)		04/15/32		2,240,000		2,319,565
WEC Energy Group, Inc.
5.63% (5 yr. CMT + 1.905%) (2)		05/15/56		1,685,000		1,655,226
						21,641,447
Electrical Components & Equipment — 0.8%
Energizer Holdings, Inc.
6.00% (1)		09/15/33		2,145,000		2,012,589
WESCO Distribution, Inc.
5.25% (1)		04/15/31		1,000,000		994,650
						3,007,239
Electronics — 0.1%
Coherent Corp.
5.00% (1)		12/15/29		566,000		555,965
Entertainment — 5.4%
Banijay Entertainment SAS (France)
8.13% (1)		05/01/29		1,422,000		1,468,471
Brightstar Lottery PLC/Brightstar Global Solutions Corp.
5.75% (1)		01/15/33		645,000		627,024
Caesars Entertainment, Inc.
4.63% (1)		10/15/29		275,000		265,034

See accompanying Notes to Financial Statements.

4

TCW MetWest High Yield Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Entertainment (Continued)
6.50% (1)		02/15/32	$	2,510,000	$	2,483,821
Churchill Downs, Inc.
5.75% (1)		04/01/30		1,440,000		1,429,430
Discovery Global Holdings, Inc.
5.05%		03/15/42		4,545,000		3,039,605
Flutter Treasury DAC (Ireland)
5.88% (1)		06/04/31		2,200,000		2,176,306
Great Canadian Gaming Corp./Raptor LLC (Canada)
8.75% (1)		11/15/29		1,065,000		1,039,429
LHMC Finco 2 SARL (Luxemburg) (8.63% Cash or 9.38% PIK)
9.38% (1)		05/15/30	EUR	712,406		859,315
Light & Wonder International, Inc.
6.25% (1)		10/01/33		2,100,000		2,060,373
Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)
8.00% (1)		08/01/30		1,248,000		1,197,631
Rivers Enterprise Borrower LLC
6.25% (1)		10/15/30		750,000		749,490
Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.
6.63% (1)		02/01/33		2,000,000		1,994,940
Voyager Parent LLC
9.25% (1)		07/01/32		1,110,000		1,157,841
						20,548,710
Environmental Control — 1.7%
GFL Environmental, Inc.
4.00% (1)		08/01/28		2,810,000		2,736,266
Luna 1.5 SARL (Luxemburg)
12.00% (1)		07/01/32		545,000		584,213
Luna 2 5 Sarl (Luxemburg)
5.50% (1)		07/01/32	EUR	385,000		438,065
Seche Environnement SACA
5.87% (5 yr. EURIBOR ICE Swap + 3.707%) (3),(2),(4)		01/09/31	EUR	500,000		562,544
Waste Pro USA, Inc.
7.00% (1)		02/01/33		2,132,000		2,162,722
						6,483,810
Food — 0.8%
Post Holdings, Inc.
4.63% (1)		04/15/30		2,700,000		2,599,020
6.50% (1)		03/15/36		297,000		291,690
						2,890,710
Gas — 1.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
9.38% (1)		06/01/28		1,325,000		1,362,710

Issues	Maturity Date		Principal Amount		Value
Gas (Continued)
NiSource, Inc.
5.75% (5 yr. CMT + 2.035%) (2)		07/15/56	$	2,190,000	$	2,158,135
Northwest Natural Holding Co.
7.00% (5 yr. CMT + 2.701%) (2)		09/15/55		1,625,000		1,642,550
						5,163,395
Hand/Machine Tools — 0.3%
IMA Industria Macchine Automatiche SpA (Italy)
5.77% (3 mo. EUR EURIBOR + 3.750%) (1),(2)		04/15/29	EUR	850,000		980,653
Health Care-Products — 0.4%
Teleflex, Inc.
4.25% (1)		06/01/28		1,729,000		1,682,645
Health Care-Services — 4.0%
Centene Corp.
2.45%		07/15/28		1,250,000		1,164,250
2.63%		08/01/31		1,219,000		1,020,425
3.00%		10/15/30		865,000		758,164
HealthEquity, Inc.
4.50% (1)		10/01/29		1,501,000		1,453,779
Heartland Dental LLC/Heartland Dental Finance Corp.
10.50% (1)		04/30/28		169,000		174,080
IQVIA, Inc.
6.25% (1)		06/01/32		1,535,000		1,559,729
Kedrion SpA (Italy)
6.50% (1)		09/01/29		2,170,000		2,094,245
ModivCare, Inc.
1.00% (1),(5),(6),(7)		10/01/29		3,627,750		54,416
Molina Healthcare, Inc.
4.38% (1)		06/15/28		150,000		145,389
6.25% (1)		01/15/33		2,571,000		2,494,513
6.50% (1)		02/15/31		264,000		260,483
Option Care Health, Inc.
4.38% (1)		10/31/29		1,000,000		966,750
Star Parent, Inc.
9.00% (1)		10/01/30		2,088,000		2,173,483
Tenet Healthcare Corp.
5.50% (1)		11/15/32		1,240,000		1,229,584
						15,549,290
Household Products/Wares — 0.5%
Spectrum Brands, Inc.
3.88% (1)		03/15/31		2,193,000		1,902,976
Housewares — 1.0%
Central Garden & Pet Co.
4.13% (1)		04/30/31		1,554,000		1,451,110

See accompanying Notes to Financial Statements.

5

TCW MetWest High Yield Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Housewares (Continued)
Newell Brands, Inc.
6.63%		05/15/32	$	1,313,000	$	1,261,740
7.38%		04/01/36		903,000		834,372
7.50%		04/01/46		475,000		381,558
						3,928,780
Insurance — 3.4%
Acrisure LLC/Acrisure Finance, Inc.
7.50% (1)		11/06/30		2,120,000		2,125,470
8.25% (1)		02/01/29		600,000		594,324
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.50% (1)		10/01/31		478,000		471,958
6.75% (1)		04/15/28		450,000		452,718
7.00% (1)		01/15/31		1,742,000		1,757,852
7.38% (1)		10/01/32		920,000		904,765
AmWINS Group, Inc.
6.38% (1)		02/15/29		545,000		549,921
Ardonagh Finco Ltd.
7.75% (1)		02/15/31		1,705,000		1,723,568
Ardonagh Group Finance Ltd. (United Kingdom)
8.88% (1)		02/15/32		540,000		524,826
Asurion LLC & Asurion Co-Issuer, Inc.
8.00% (1)		12/31/32		673,000		699,314
Asurion LLC/Asurion Co-Issuer, Inc.
8.38% (1)		02/01/34		595,000		580,214
Farmers Insurance Exchange
7.00% (10 yr. CMT + 3.864%) (1),(2)		10/15/64		1,650,000		1,668,365
HUB International Ltd.
7.25% (1)		06/15/30		455,000		467,353
Panther Escrow Issuer LLC
7.13% (1)		06/01/31		695,000		697,453
						13,218,101
Internet — 1.3%
Cerved Group SpA (Italy)
7.40% (3 mo. EUR EURIBOR + 5.250%) (2),(3)		02/15/29	EUR	925,000		936,484
Getty Images, Inc.
10.50% (1)		11/15/30		470,000		424,960
11.25% (1)		02/21/30		1,030,000		927,247
ION Platform Finance U.S., Inc./ION Platform Finance SARL
8.75% (1)		05/01/29		990,000		921,116
Snap, Inc.
6.88% (1)		03/15/34		239,000		224,913
6.88% (1)		03/01/33		1,825,000		1,729,407
						5,164,127

Issues	Maturity Date		Principal Amount		Value
Investment Companies — 0.9%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
9.00%		06/15/30	$	1,310,000	$	1,231,413
9.75%		01/15/29		1,000,000		984,920
10.00% (1)		11/15/29		1,069,000		1,052,901
						3,269,234
Iron & Steel — 0.3%
Cleveland-Cliffs, Inc.
7.38% (1)		05/01/33		1,000,000		979,140
Leisure Time — 0.5%
Sabre Financial Borrower LLC
11.13% (1)		06/15/29		650,000		666,439
Sabre GLBL, Inc.
10.75% (1)		11/15/29		596,000		510,599
10.75% (1)		03/15/30		759,000		634,615
						1,811,653
Lodging — 3.4%
Choice Hotels International, Inc.
5.85%		08/01/34		500,000		504,190
Hilton Domestic Operating Co., Inc.
5.88% (1)		04/01/29		1,825,000		1,846,024
MGM Resorts International
6.50%		04/15/32		1,500,000		1,515,210
Wyndham Hotels & Resorts, Inc.
4.38% (1)		08/15/28		2,399,000		2,346,150
5.63% (1)		03/01/33		2,000,000		1,968,780
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.25% (1)		05/15/27		4,854,000		4,844,292
						13,024,646
Machinery-Diversified — 0.7%
Columbus McKinnon Corp.
7.13% (1)		02/01/33		1,000,000		1,000,970
Lsf12 Helix Parent LLC
7.13% (1)		02/01/33		1,495,000		1,445,560
Oregon Tool Lux LP
7.88% (1)		10/15/29		1,117,022		196,306
						2,642,836
Media — 9.0%
Belo Corp.
7.25%		09/15/27		1,850,000		1,905,796
CCO Holdings LLC/CCO Holdings Capital Corp.
5.13% (1)		05/01/27		931,000		931,633
5.38% (1)		06/01/29		2,210,000		2,181,756
7.00% (1)		02/01/33		2,898,000		2,912,432
7.38% (1)		02/01/36		1,405,000		1,399,141

See accompanying Notes to Financial Statements.

6

TCW MetWest High Yield Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Media (Continued)
CSC Holdings LLC
5.75% (1)		01/15/30	$	1,758,000	$	665,737
6.50% (1)		02/01/29		5,660,000		3,617,702
11.75% (1)		01/31/29		2,728,000		1,977,091
DirecTv Financing LLC
8.88% (1)		02/01/30		1,000,000		999,990
DISH DBS Corp.
7.75%		07/01/26		2,500,000		2,495,700
DISH Network Corp.
11.75% (1)		11/15/27		1,470,000		1,515,364
Gray Media, Inc.
10.50% (1)		07/15/29		450,000		479,389
Midcontinent Communications
8.00% (1)		08/15/32		1,100,000		1,029,303
Nexstar Media, Inc.
6.50% (1)		09/15/33		1,100,000		1,109,240
Paramount Global
4.20%		06/01/29		830,000		793,314
4.95%		01/15/31		830,000		767,194
Scripps Escrow II, Inc.
3.88% (1)		01/15/29		594,000		549,860
Sinclair Television Group, Inc.
4.38% (1)		12/31/32		300,000		234,879
8.13% (1)		02/15/33		1,612,000		1,644,240
Sirius XM Radio LLC
3.88% (1)		09/01/31		1,578,000		1,435,207
5.88% (1)		04/15/32		1,000,000		994,710
Univision Communications, Inc.
8.00% (1)		08/15/28		420,000		427,237
8.50% (1)		07/31/31		1,195,000		1,201,800
Virgin Media O2 Vendor Financing Notes VI DAC
8.50% (1)		03/15/33		867,000		756,536
VZ Secured Financing BV (Netherlands)
5.00% (1)		01/15/32		3,072,000		2,642,964
						34,668,215
Mining — 0.1%
Compass Minerals International, Inc.
8.00% (1)		07/01/30		540,000		559,408
Oil & Gas — 2.7%
Matador Resources Co.
6.00% (1)		04/15/34		1,300,000		1,291,966
Petroleos Mexicanos
5.95%		01/28/31		524,000		501,044
SM Energy Co.
7.00% (1)		08/01/32		947,000		967,777
9.63% (1)		06/15/33		1,635,000		1,810,059
Sunoco LP
5.88% (1)		03/15/34		2,140,000		2,120,034

Issues	Maturity Date		Principal Amount		Value
Oil & Gas (Continued)
7.88% (5 yr. CMT + 4.230%) (1),(2),(4)		09/18/30	$	3,040,000	$	3,102,077
Transocean International Ltd.
8.75% (1)		02/15/30		399,000		416,564
						10,209,521
Oil & Gas Services — 1.5%
Archrock Partners LP/Archrock Partners Finance Corp.
6.63% (1)		09/01/32		1,232,000		1,258,858
Archrock Services LP/Archrock Partners Finance Corp.
6.00% (1)		02/01/34		1,145,000		1,135,714
Kodiak Gas Services LLC
6.75% (1)		10/01/35		600,000		611,028
USA Compression Partners LP/USA Compression Finance Corp.
6.25% (1)		10/01/33		1,290,000		1,289,110
WBI Operating LLC
6.50% (1)		10/15/33		1,460,000		1,451,882
						5,746,592
Packaging & Containers — 1.6%
Ardagh Group SA
9.50% (1)		12/01/30		1,102,000		1,152,692
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		900,000		757,152
Ball Corp.
5.50%		09/15/33		1,000,000		1,002,650
Graphic Packaging International LLC
6.38% (1)		07/15/32		980,000		978,226
Sealed Air Corp./Sealed Air Corp. U.S.
7.25% (1)		02/15/31		2,280,000		2,402,322
						6,293,042
Pharmaceuticals — 2.8%
1261229 BC Ltd.
10.00% (1)		04/15/32		3,717,000		3,789,296
Amneal Pharmaceuticals LLC
6.88% (1)		08/01/32		222,000		228,882
Bausch Health Cos., Inc.
14.00% (1)		10/15/30		192,000		184,860
CVS Health Corp.
6.75% (5 yr. CMT + 2.516%) (2)		12/10/54		1,505,000		1,520,095
Dolcetto Holdco SpA (Italy)
5.63% (1)		07/14/32	EUR	550,000		631,581
Grifols SA (Spain)
4.75% (1)		10/15/28		665,000		652,764
7.50% (3)		05/01/30	EUR	1,305,000		1,557,375
Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc.
8.75% (1)		04/17/32		710,000		631,651

See accompanying Notes to Financial Statements.

7

TCW MetWest High Yield Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Pharmaceuticals (Continued)
Teva Pharmaceutical Finance Netherlands III BV (Israel)
6.00%		12/01/32	$	1,412,000	$	1,451,677
						10,648,181
Pipelines — 4.3%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.75% (1)		07/01/34		650,000		641,362
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.50% (1)		06/15/31		1,275,000		1,246,682
Energy Transfer LP
6.63% (3 mo. USD Term SOFR + 4.417%) (2),(4)		02/15/28		2,457,000		2,450,292
Global Partners LP/GLP Finance Corp.
6.88%		01/15/29		849,000		852,821
8.25% (1)		01/15/32		1,395,000		1,447,410
ITT Holdings LLC
6.50% (1)		08/01/29		1,525,000		1,487,607
NGL Energy Operating LLC/NGL Energy Finance Corp.
8.13% (1)		02/15/29		710,000		732,507
8.38% (1)		02/15/32		742,000		767,169
Rockies Express Pipeline LLC
6.88% (1)		04/15/40		373,000		372,224
TransMontaigne Partners LLC
8.50% (1)		06/15/30		620,000		630,218
Venture Global LNG, Inc.
9.00% (5 yr. CMT + 5.440%) (1),(2),(4)		09/30/29		1,495,000		1,489,603
9.88% (1)		02/01/32		835,000		898,184
Venture Global Plaquemines LNG LLC
6.50% (1)		06/15/34		152,000		158,387
6.50% (1)		01/15/34		772,000		805,412
6.75% (1)		01/15/36		1,539,000		1,630,247
7.75% (1)		05/01/35		806,000		904,896
						16,515,021
Real Estate — 0.5%
Cushman & Wakefield U.S. Borrower LLC
8.88% (1)		09/01/31		1,395,000		1,478,602
Finco Opal Sarl (Luxemburg)
9.76% (3 mo. EUR EURIBOR + 7.750%) (1),(2),(3)		03/02/30	EUR	500,000		570,103
						2,048,705
REIT — 2.0%
GLP Capital LP/GLP Financing II, Inc. (REIT)
5.63%		03/01/36		1,650,000		1,605,994
Hudson Pacific Properties LP
3.95%		11/01/27		1,160,000		1,099,158
5.95%		02/15/28		1,134,000		1,077,187

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Iron Mountain, Inc.
6.25% (1)		01/15/33	$	2,565,000	$	2,559,896
RHP Hotel Properties LP/RHP Finance Corp. (REIT)
5.75% (1)		03/15/34		1,240,000		1,224,735
						7,566,970
Retail — 5.9%
1011778 BC ULC/New Red Finance, Inc. (Canada)
4.00% (1)		10/15/30		2,500,000		2,353,300
Arcos Dorados BV (Brazil)
6.38% (1)		01/29/32		600,000		614,790
Asbury Automotive Group, Inc.
4.63% (1)		11/15/29		1,000,000		967,310
BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc.
9.50% (1)		07/01/32		2,165,000		1,954,908
Ferrellgas LP/Ferrellgas Finance Corp.
5.88% (1)		04/01/29		1,137,000		1,090,838
9.25% (1)		01/15/31		435,000		454,123
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.
6.75% (1)		01/15/30		975,000		911,430
FirstCash, Inc.
5.63% (1)		01/01/30		2,071,000		2,059,589
Lithia Motors, Inc.
5.50% (1)		10/01/30		1,872,000		1,842,404
Macy’s Retail Holdings LLC
7.38% (1)		08/01/33		650,000		665,223
Men’s Wearhouse LLC
9.00% (1)		02/01/31		600,000		611,028
Michaels Cos., Inc.
8.50% (1)		03/15/33		805,000		784,931
11.00% (1)		03/15/34		200,000		186,872
Murphy Oil USA, Inc.
3.75% (1)		02/15/31		1,293,000		1,202,787
Papa John’s International, Inc.
3.88% (1)		09/15/29		2,160,000		2,062,303
QXO Building Products, Inc.
6.75% (1)		04/30/32		1,730,000		1,766,347
Staples, Inc.
10.75% (1)		09/01/29		1,140,000		1,059,425
Stonegate Pub Co. Financing PLC (United Kingdom)
8.62% (3 mo. EUR EURIBOR + 6.625%) (2),(3)		07/31/29	EUR	340,000		384,089
Suburban Propane Partners LP/Suburban Energy Finance Corp.
6.50% (1)		12/15/35		1,675,000		1,632,003
						22,603,700

See accompanying Notes to Financial Statements.

8

TCW MetWest High Yield Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Software — 3.5%
Cloud Software Group, Inc.
6.50% (1)		03/31/29	$	2,250,000	$	2,191,185
8.25% (1)		06/30/32		1,475,000		1,402,769
Open Text Corp.
3.88% (1)		12/01/29		1,100,000		985,710
Open Text Corp. (Canada)
6.90% (1)		12/01/27		2,000,000		2,055,880
RingCentral, Inc.
8.50% (1)		08/15/30		616,000		644,761
Salesforce, Inc.
5.55%		03/15/36		1,359,000		1,355,236
TeamSystem SpA (Italy)
5.00% (3)		07/01/31	EUR	525,000		559,567
UKG, Inc.
6.88% (1)		02/01/31		2,175,000		2,133,893
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.
3.88% (1)		02/01/29		2,575,000		2,143,842
						13,472,843
Telecommunications — 3.5%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27		2,959,000		2,189,305
Altice France SA
6.50% (1)		04/15/32		1,240,218		1,173,693
6.88% (1)		07/15/32		625,000		592,994
EchoStar Corp.
10.75%		11/30/29		2,300,000		2,486,392
Global Switch Finance BV (United Kingdom)
1.38% (3)		10/07/30	EUR	1,095,000		1,165,104
Level 3 Financing, Inc.
6.88% (1)		06/30/33		2,320,000		2,365,170
Vmed O2 U.K. Financing I PLC
7.75% (1)		04/15/32		39,000		37,447
Vmed O2 U.K. Financing I PLC (United Kingdom)
4.75% (1)		07/15/31		651,000		560,713
Windstream Services LLC/Windstream Escrow Finance Corp.
8.25% (1)		10/01/31		1,800,000		1,886,742
Zayo Group Holdings, Inc. (5.75% Cash or 0.50% PIK) due 3/29/27
9.25% (1)		03/09/30		856,366		851,510
						13,309,070
Total Corporate Bonds
(Cost: $351,345,614)						344,814,862
BANK LOANS — 6.1%
Auto Parts & Equipment — 0.0%
First Brands Group LLC 2021 Term Loan
9.57% (3 mo. USD Term SOFR + 5.000%)		03/30/27		846,213		2,471

Issues	Maturity Date		Principal Amount		Value
Auto Parts & Equipment (Continued)
First Brands Group LLC 2025 PIK DIP Roll-Up Term Loan B
10.67% (1 mo. USD Term SOFR + 7.000%) (2)		06/29/26	$	970,414	$	3,697
						6,168
Beverages — 0.3%
Naked Juice LLC 2025 FLFO Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (2)		01/24/29		1,250,000		1,246,594
Commercial Services — 0.1%
Kelso Industries LLC Term Loan
9.42% (1 mo. USD Term SOFR + 5.750%) (2)		12/30/29		475,431		474,242
Electrical Components & Equipment — 0.1%
Pelican Products, Inc. 2021 Term Loan
8.21% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/28		678,415		605,492
Electronics — 0.2%
TCP Sunbelt Acquisition Co. 2024 Term Loan B
7.92% (3 mo. USD Term SOFR + 4.250%) (2)		10/24/31		641,875		643,078
Engineering & Construction — 0.2%
Astrion Group LLC 2024 Term Loan
8.70% (3 mo. USD Term SOFR + 5.000%) (2)		08/29/31		990,963		786,166
Health Care-Products — 0.3%
QuidelOrtho Corp. Term Loan
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		08/20/32		1,094,500		1,094,500
Health Care-Services — 0.8%
ADMI Corp. 2023 Term Loan B5
9.42% (1 mo. USD Term SOFR + 5.750%) (2)		12/23/27		687,688		659,321
ModivCare Buyer LLC Super Senior Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/30		518,700		520,430
ModivCare Buyer LLC Takeback Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/30/32		1,209,276		1,136,719

See accompanying Notes to Financial Statements.

9

TCW MetWest High Yield Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Health Care-Services (Continued)
Pluto Acquisition I, Inc. 2024 First Out Superpriority Term Loan
9.21% (3 mo. USD Term SOFR + 5.500%) (2)		06/20/28	$	730,000	$	738,213
						3,054,683
Internet — 1.2%
Barracuda Networks, Inc. 2022 Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (2)		08/15/29		372,336		240,622
Delivery Hero SE 2024 USD Term Loan B
8.64% (3 mo. USD Term SOFR + 5.000%) (2)		12/12/29		1,485,005		1,462,269
Magnite, Inc. 2025 Repriced Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		02/06/31		1,810,595		1,797,016
MH Sub I LLC 2023 Term Loan
7.92% (1 mo. USD Term SOFR + 4.250%) (2)		05/03/28		434,481		374,740
PUG LLC 2024 Extended Term Loan B
8.42% (1 mo. USD Term SOFR + 4.750%) (2)		03/15/30		652,529		644,170
						4,518,817
Machinery-Diversified — 0.1%
Oregon Tool, Inc. 2025 2nd Lien Term Loan
7.91% (3 mo. USD Term SOFR + 4.000%) (2)		10/15/29		277,694		197,278
Media — 0.8%
Altice France SA 2025 USD Term Loan B14
10.55% (3 mo. USD Term SOFR + 6.875%) (2)		05/31/31		1,393,853		1,399,373
Virgin Media Bristol LLC 2023 Term Loan Y
7.05% (6 mo. USD Term SOFR + 3.175%) (2)		03/31/31		1,754,418		1,606,213
						3,005,586
Mining — 0.2%
American Rock Salt Co. LLC 2024 First Out Term Loan
10.78% (1 mo. USD Term SOFR + 7.000%) (2)		06/09/28		894,635		899,949
Office/Business Equipment — 0.3%
Xerox Holdings Corp. 2023 Non-CoOp Term Loan
7.73% (6 mo. USD Term SOFR + 4.000%) (2)		11/19/29		1,560,701		1,111,999

Issues	Maturity Date		Principal Amount		Value
Pipelines — 0.4%
Venture Global Calcasieu Pass LLC Term Loan
0.00%(8)		08/19/26	$	1,407,967	$	1,407,530
Software — 1.1%
Cast & Crew Payroll LLC 2021 Incremental Term Loan
7.42% (3 mo. USD Term SOFR + 3.750%) (2)		12/29/28		1,038,917		417,385
Cloudera, Inc. 2021 Term Loan
7.52% (1 mo. USD Term SOFR + 3.750%) (2)		10/08/28		992,248		888,682
DTI Holdco, Inc. 2025 Term Loan B
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		04/26/29		1,144,500		990,948
Planview Parent, Inc. 2024 1st Lien Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		12/17/27		921,525		694,028
Project Alpha Intermediate Holding, Inc. 2024 1st Lien Term Loan B
6.95% (3 mo. USD Term SOFR + 3.250%) (2)		10/26/30		603,468		460,009
Renaissance Holding Corp. 2024 1st Lien Term Loan
7.67% (3 mo. USD Term SOFR + 4.000%) (2)		04/05/30		1,243,639		894,257
						4,345,309
Telecommunications — 0.0%
Cyxtera DC Holdings, Inc. Term Loan B
0.00% (6),(9)		01/16/27		355,886		—
Total Bank Loans
(Cost: $26,383,786)						23,397,391
Total Fixed Income Securities
(Cost: $377,729,400)						368,212,253
CONVERTIBLE SECURITIES — 0.1%
Convertible Corporate Bonds — 0.1%
Commercial Services — 0.0%
Worldline SA (France) 0.00% (3),(5)		07/30/26	EUR	56,262		65,801
Internet — 0.1%
Delivery Hero SE
1.50% (3)		01/15/28	EUR	500,000		537,968
Total Convertible Corporate Bonds
(Cost: $601,232)						603,769
Total Convertible Securities
(Cost: $601,232)						603,769

See accompanying Notes to Financial Statements.

10

TCW MetWest High Yield Bond Fund

March 31, 2026

Issues	Shares		Value
COMMON STOCK — 0.5%
Beverages — 0.1%
Luxco Co. Ltd. (10)		13,356	$	225,523
Health Care-Services — 0.3%
ModivCare, Inc. (10)		201,205		1,307,832
Packaging & Containers — 0.1%
Ardagh Holdings SA (10)		39,329		290,051
Total Common Stock
(Cost: $2,497,670)				1,823,406
MONEY MARKET INVESTMENTS — 1.8%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (11)		950,954		950,954
TCW Central Cash Fund, 3.69% (11),(12)		6,118,795		6,118,795
Total Money Market Investments (Cost: $7,069,749)				7,069,749

Issues	Shares		Value
WARRANTS — 0.0%
Entertainment — 0.0%
Cineworld Group PLC (9),(10)		288,340	$	4
Total Warrants
(Cost: $—)				4
Total Investments (98.3%) (Cost: $387,898,051)				377,709,181
Net Unrealized Appreciation/depreciation On Unfunded Commitments (13) (0.0%)				1,395
Other Assets In Excess Of Liabilities (1.7%)				6,418,688
Net Assets (100.0%)			$	384,129,264

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
226	5-Year U.S. Treasury Note Futures		06/30/26	$	(24,737,529	)	$	(24,448,609	)	$	288,920
Short Futures
75	10-Year U.S. Treasury Note Futures		06/18/26	$	(8,656,351	)	$	(8,513,672	)	$	142,679
8	2-Year U.S. Treasury Note Futures		06/30/26		(1,667,239	)		(1,659,563	)		7,676
14	Euro-Bobl Futures		06/08/26		(1,898,414	)		(1,861,978	)		36,436
5	U.S. Ultra Long Bond Futures		06/18/26		(600,850	)		(582,813	)		18,037
				$	(12,822,854	)	$	(12,618,026	)	$	204,828

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (14)
Goldman Sachs & Co.		EUR		9,836,759		04/01/26	$	11,336,426	$	11,333,912	$	(2,514	)
Citibank N.A.		EUR		28,137		04/01/26		32,709		32,419		(290	)
							$	11,369,135	$	11,366,331	$	(2,804	)
SELL (15)
Goldman Sachs & Co.		EUR		218,886		04/01/26	$	256,232	$	252,200	$	4,032
Citibank N.A.		EUR		1,310,969		04/01/26		1,543,786		1,510,499		33,287
Bank of New York		EUR		500,000		04/01/26		593,752		576,100		17,652
Bank of America		EUR		7,190,284		04/01/26		8,464,337		8,284,644		179,693
JP Morgan Chase Bank		EUR		644,756		04/01/26		749,806		742,888		6,918
Bank of New York		EUR		468,804		06/26/26		541,828		542,235		(407	)
Goldman Sachs & Co.		EUR		9,719,694		06/26/26		11,242,624		11,242,136		488
							$	23,392,365	$	23,150,702	$	241,663

See accompanying Notes to Financial Statements.

11

TCW MetWest High Yield Bond Fund

Schedule of Investments (Continued)

Notes to the Schedule of Investments:

ACES Alternative Credit Enhancement Securities.

EUR Euro Currency.

LIBOR London Interbank Offered Rate.

PIK Payment In Kind.

REMIC Real Estate Mortgage Investment Conduits.

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 March 31, 2026, the value of these securities amounted to $268,648,743 or 69.9% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) 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 March 31, 2026, the value of these securities amounted to $7,104,582 or 1.9% of net assets.

(4) Perpetual maturity.

(5) Security is not accruing interest.

(6) 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.

(7) Restricted security (Note 11).

(8) 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.

(9) For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(10) Non-income producing security.

(11) Rate disclosed is the 7-day net yield as of March 31, 2026.

(12) Affiliated issuer.

(13) Unfunded or partially unfunded loan commitments. The Fund may enter into certain credit agreements for which all or a portion may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion.

(14) Fund buys foreign currency, sells USD.

(15) Fund sells foreign currency, buys USD.

The summary of the TCW MetWest High Yield Bond Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund	$	9,789,160	$	265,229,635	$	268,900,000		6,118,795	$	6,118,795	$	537,187	$	—	$	—	$	—
Total									$	6,118,795	$	537,187	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

12

TCW MetWest High Yield Bond Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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	$	—	$	344,814,862		$	—	$	344,814,862
Bank Loans		—		23,397,391			—		23,397,391
Total Fixed Income Securities		—		368,212,253			—		368,212,253
Convertible Securities
Convertible Corporate Bonds		—		603,769			—		603,769
Equity Securities
Money Market Investments		7,069,749		—			—		7,069,749
Common Stock		225,523		1,597,883			—		1,823,406
Warrants		—		—			4		4
Total Equity Securities		7,295,272		1,597,883			4		8,893,159
Net Unrealized Appreciation (Depreciation) on Unfunded Commitments		—		1,395			—		1,395
Total Investments	$	7,295,272	$	370,415,300		$	4	$	377,710,576
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—		242,070			—		242,070
Futures Contracts
Interest Rate Risk		493,748		—			—		493,748
Total	$	7,789,020	$	370,657,370		$	4	$	378,446,394
Liability Derivatives
Forward Currency Contracts
Foreign Currency Risk	$	—	$	(3,211	)	$	—	$	(3,211	)
Total	$	—	$	(3,211	)	$	—	$	(3,211	)

See accompanying Notes to Financial Statements.

13

TCW MetWest Investment Grade Credit Fund

Schedule of Investments

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 106.5% of Net Assets
ASSET-BACKED SECURITIES — 2.3%
AMMC CLO 24 Ltd. Series 2021-24A, Class AR
4.87% (3 mo. USD Term SOFR + 1.200%) (1),(2)		01/20/35	$	75,000	$	74,951
ARES XXVII CLO Ltd. Series 2013-2A, Class AR3
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		10/28/34		90,000		89,991
GoldenTree Loan Management U.S. CLO 11 Ltd. Series 2021-11A, Class AR
4.75% (3 mo. USD Term SOFR + 1.080%) (1),(2)		10/20/34		70,000		69,977
JGWPT XXX LLC Series 2013-3A, Class A
4.08% (1)		01/17/73		22,099		21,108
LCM 29 Ltd. Series 29A, Class AR
5.00% (3 mo. USD Term SOFR + 1.332%) (1),(2)		04/15/31		54,345		54,419
Rockford Tower CLO Ltd. Series 2019-2A, Class AR2
4.79% (3 mo. USD Term SOFR + 1.130%) (1),(2)		08/20/32		37,845		37,901
Sabey Data Center Issuer LLC Series 2021-1, Class A2
1.88% (1)		06/20/46		83,000		82,451
Skyline Aviation, Inc. Class A
3.23% (3)		07/03/38		28,048		26,503
SLM Student Loan Trust Series 2008-2, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		01/25/83		20,000		21,317
SLM Student Loan Trust Series 2008-3, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		04/26/83		20,000		20,821
SLM Student Loan Trust Series 2008-5, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/25/73		35,000		37,200
SLM Student Loan Trust Series 2008-6, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/26/83		20,000		20,780
SLM Student Loan Trust Series 2008-7, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/26/83		20,000		20,020
Wachovia Student Loan Trust Series 2006-1, Class A6
4.32% (90 day USD SOFR Average + 0.432%) (1),(2)		04/25/40		11,713		11,473
Total Asset-Backed Securities
(Cost: $577,281)						588,912

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 13.4%
Federal Home Loan Mortgage Corp., Pool #SD8286
4.00%		01/01/53	$	103,286	$	97,701
Federal Home Loan Mortgage Corp. REMICS Series 4064, Class TB (PAC)
3.50%		06/15/42		98,618		93,227
Federal Home Loan Mortgage Corp. STRIPS Series 240 (I/O)
5.50%		07/15/36		91,140		15,785
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		75,644		71,686
Federal National Mortgage Association, Pool #MA4732
4.00%		09/01/52		98,299		93,134
Federal National Mortgage Association, Pool #MA4866
4.00%		01/01/53		59,967		56,802
Federal National Mortgage Association, Pool #MA4656
4.50%		07/01/52		150,318		145,744
Federal National Mortgage Association, Pool #BW9897
4.50%		10/01/52		18,696		18,110
Federal National Mortgage Association, Pool #MA4917
4.50%		02/01/53		423,762		410,631
Federal National Mortgage Association, Pool #MA5072
5.50%		07/01/53		18,439		18,617
Federal National Mortgage Association REMICS Series 2011-116, Class SA (I/O) (I/F)
2.22% (-30 day USD SOFR Average + 5.886%) (2)		11/25/41		41,378		3,223
Federal National Mortgage Association REMICS Series 2012-128, Class UA
2.50%		06/25/42		18,228		16,181
Federal National Mortgage Association REMICS Series 2013-5, Class GF
4.88% (30 day USD SOFR Average + 1.214%) (2)		10/25/42		22,973		22,861
Federal National Mortgage Association REMICS Series 2024-73, Class FB
4.86% (30 day USD SOFR Average + 1.200%) (2)		10/25/54		28,219		28,369
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52		19,143		18,142
Government National Mortgage Association REMICS Series 2003-110, Class S (I/O) (I/F)
2.81% (-1 mo. USD Term SOFR + 6.486%) (2)		10/20/33		92,780		6,511
Government National Mortgage Association REMICS Series 2018-124, Class NW
3.50%		09/20/48		16,525		15,322
Government National Mortgage Association REMICS Series 2018-154, Class BP (PAC)
3.50%		11/20/48		1,647		1,569

See accompanying Notes to Financial Statements.

14

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2019-15, Class GT
3.50%		02/20/49	$	13,820	$	12,874
Government National Mortgage Association REMICS Series 2023-113, Class FD
5.02% (30 day USD SOFR Average + 1.350%) (2)		08/20/53		26,216		26,503
Government National Mortgage Association, TBA
4.00% (4)		06/01/55		275,000		257,438
Uniform Mortgage-Backed Security, TBA
3.50% (4)		12/01/51		800,000		733,437
4.00% (4)		05/01/55		400,000		377,378
4.50% (4)		01/01/56		200,000		192,935
5.00% (4)		01/01/56		475,000		468,374
5.50% (4)		12/01/55		250,000		251,185
Total Residential Mortgage-Backed Securities — Agency
(Cost: $3,504,718)						3,453,739
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY — 7.8%
1211 Avenue of the Americas Trust Series 2015-1211, Class A1A2
3.90% (1)		08/10/35		69,000		66,145
245 Park Avenue Trust Series 2017-245P, Class A
3.51% (1)		06/05/37		115,000		113,160
BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A
4.09% (1),(5)		08/10/38		100,000		97,856
BX Trust Series 2019-OC11, Class C
3.86% (1)		12/09/41		79,000		75,142
BX Trust Series 2021-LBA, Class DV
5.64% (1 mo. USD Term SOFR + 1.964%) (1),(2)		02/15/36		33,214		33,204
BXP Trust Series 2017-GM, Class B
3.42% (1),(5)		06/13/39		100,000		98,031
Citigroup Commercial Mortgage Trust Series 2020-555, Class A
2.65% (1)		12/10/41		100,000		90,662
COMM Mortgage Trust Series 2014-UBS5, Class XA (I/O)
0.41% (5)		09/10/47		89,613		1
COMM Mortgage Trust Series 2024-277P, Class A
6.34% (1)		08/10/44		79,000		82,416
CSAIL Commercial Mortgage Trust Series 2019-C18, Class A2
2.84%		12/15/52		20,058		19,134
CSMC Trust Series 2021-B33, Class A2
3.17% (1)		10/10/43		100,000		88,909
DOLP Trust Series 2021-NYC, Class A
2.96% (1)		05/10/41		106,000		95,228
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K049, Class X3 (I/O)
3.77% (5)		10/25/43		15,496		—

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Federal National Mortgage Association-ACES Series 2016-M2, Class X3 (I/O)
2.04% (5)		04/25/36	$	37,443	$	—
FirstKey Homes Trust Series 2021-SFR2, Class E2
2.36% (1)		09/17/38		100,000		98,672
FirstKey Homes Trust Series 2022-SFR1, Class D
5.20% (1)		05/19/39		70,000		69,563
GS Mortgage Securities Corp. Trust Series 2023-FUN, Class B
6.46% (1 mo. USD Term SOFR + 2.790%) (1),(2)		03/15/28		100,000		100,542
GWT Trust Series 2024-WLF2, Class B
5.81% (1 mo. USD Term SOFR + 2.141%) (1),(2)		05/15/41		37,000		37,067
JPMBB Commercial Mortgage Securities Trust Series 2014-C22, Class XA (I/O)
0.40% (5)		09/15/47		90,368		1
JPMBB Commercial Mortgage Securities Trust Series 2014-C25, Class XA (I/O)
0.33% (5)		11/15/47		236,844		969
JPMorgan Chase Commercial Mortgage Securities Trust Series 2010-C2, Class XB (I/O)
1.30% (1),(5),(6)		11/15/43		425,656		4
JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-NINE, Class A
2.85% (1),(5)		09/06/38		70,000		69,522
Manhattan West Mortgage Trust Series 2020-1MW, Class B
2.34% (1),(5)		09/10/39		100,000		96,486
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22, Class XA (I/O)
0.52% (5)		04/15/48		101,838		1
Progress Residential Trust Series 2021-SFR11, Class E2
3.53% (1)		01/17/39		80,000		76,157
SCOTT Trust Series 2023-SFS, Class A
5.91% (1)		03/10/40		110,000		112,033
SMRT Commercial Mortgage Trust Series 2022-MINI, Class B
5.02% (1 mo. USD Term SOFR + 1.350%) (1),(2)		01/15/39		33,000		32,968
SREIT Trust Series 2021-MFP2, Class C
5.16% (1 mo. USD Term SOFR + 1.485%) (1),(2)		11/15/36		100,000		99,962
SREIT Trust Series 2021-PALM, Class C
4.75% (1 mo. USD Term SOFR + 1.074%) (1),(2)		10/15/34		50,000		49,989
TCO Commercial Mortgage Trust Series 2024-DPM, Class B
5.26% (1 mo. USD Term SOFR + 1.592%) (1),(2)		12/15/39		100,000		99,767
UBS Commercial Mortgage Trust Series 2019-C17, Class AS
3.20%		10/15/52		60,000		55,866
Wells Fargo Commercial Mortgage Trust Series 2015-NXS2, Class XA (I/O)
0.00% (5),(7)		07/15/58		78,357		1

See accompanying Notes to Financial Statements.

15

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Wells Fargo Commercial Mortgage Trust Series 2016-LC25, Class AS
3.84% (5)		12/15/59	$	52,000	$	51,375
Wells Fargo Commercial Mortgage Trust Series 2024-SVEN, Class A
6.01% (1)		06/10/37		100,000		102,236
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $2,074,344)						2,013,069
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 0.1%
Federal National Mortgage Association-ACES Series 2016-M4, Class X2 (I/O)
2.69% (5)		01/25/39		218,568		7,657
Government National Mortgage Association Series 2012-112 (I/O)
0.11% (5)		02/16/53		1,420,384		4,210
Government National Mortgage Association Series 2013-1 (I/O)
0.58% (5)		02/16/54		365,203		5,531
Government National Mortgage Association Series 2013-125 (I/O)
0.25% (5)		10/16/54		615,781		10,622
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $171,383)						28,020
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 5.0%
ABFC Trust Series 2006-OPT1, Class A3D
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		09/25/36		40,215		39,726
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-R11, Class M3
4.54% (1 mo. USD Term SOFR + 0.864%) (2)		01/25/36		41,539		41,173
BCMSC Trust Series 2000-A, Class A2
7.58% (5)		06/15/30		19,426		1,051
Bear Stearns ARM Trust Series 2004-1, Class 12A
4.99% (5)		04/25/34		4,617		4,159
Carrington Mortgage Loan Trust Series 2006-FRE1, Class A3
3.94% (1 mo. USD Term SOFR + 0.264%) (2)		04/25/36		36,215		35,837
Carrington Mortgage Loan Trust Series 2007-HE1, Class A4
4.08% (1 mo. USD Term SOFR + 0.694%) (2)		06/25/37		85,000		82,393
Chase Home Lending Mortgage Trust Series 2024-10, Class A4A
5.50% (1),(5)		10/25/55		49,859		49,942
CIM Trust Series 2021-R4, Class A1A
2.00% (1),(5)		05/01/61		38,708		36,712
Citigroup Mortgage Loan Trust, Inc. Series 2005-OPT1, Class M1
4.42% (1 mo. USD Term SOFR + 0.744%) (2)		02/25/35		26,946		25,722

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Countrywide Asset-Backed Certificates Trust Series 2007-13, Class 2A1
4.69% (1 mo. USD Term SOFR + 1.014%) (2)		10/25/47	$	14,342	$	13,265
Cross Mortgage Trust Series 2024-H6, Class A1
5.13% (1),(5)		09/25/69		69,130		69,188
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA6, Class M2
5.16% (30 day USD SOFR Average + 1.500%) (1),(2)		10/25/41		37,493		37,537
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R01, Class 1M2
5.46% (30 day USD SOFR Average + 1.800%) (1),(2)		01/25/44		50,000		50,451
GCAT Trust Series 2023-INV1, Class A7
6.00% (1),(5)		08/25/53		56,237		56,652
GSR Mortgage Loan Trust Series 2005-AR6, Class 2A1
4.86% (5)		09/25/35		5,478		5,285
Home Equity Asset Trust Series 2005-4, Class M6
4.81% (1 mo. USD Term SOFR + 1.194%) (2)		10/25/35		51,159		51,186
Impac CMB Trust Series 2007-A, Class A
4.29% (1 mo. USD Term SOFR + 0.614%) (1),(2)		05/25/37		52,215		51,449
IndyMac INDX Mortgage Loan Trust Series 2007-FLX3, Class A1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		06/25/37		96,772		91,710
Long Beach Mortgage Loan Trust Series 2006-1, Class 1A
4.23% (1 mo. USD Term SOFR + 0.554%) (2)		02/25/36		1,694		1,685
MFA Trust Series 2021-INV1, Class A3
1.26% (1),(5)		01/25/56		22,315		21,740
Morgan Stanley Mortgage Loan Trust Series 2004-5AR, Class 3A1
4.99% (5)		07/25/34		6,054		6,019
New Residential Mortgage Loan Trust Series 2022-NQM4, Class A1
5.00% (1)		06/25/62		69,497		69,315
OBX Trust Series 2024-HYB1, Class A1
3.62% (1),(5)		03/25/53		58,527		58,623
OBX Trust Series 2024-NQM14, Class A1
4.94% (1)		09/25/64		62,027		61,932
OBX Trust Series 2024-NQM15, Class A1
5.32% (1)		10/25/64		64,689		64,908
Saxon Asset Securities Trust Series 2007-2, Class A2A
3.89% (1 mo. USD Term SOFR + 0.214%) (2)		05/25/47		53,808		39,963
Structured Asset Mortgage Investments II Trust Series 2004-AR1, Class 1A2
4.49% (1 mo. USD Term SOFR + 0.814%) (2)		03/19/34		744		716

See accompanying Notes to Financial Statements.

16

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Structured Asset Securities Corp. Series 2005-WF1, Class M4
4.92% (1 mo. USD Term SOFR + 1.239%) (2)		02/25/35	$	66,010	$	66,136
Structured Asset Securities Corp. Mortgage Loan Trust Series 2006-BC6, Class A1
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		01/25/37		78,797		75,721
Verus Securitization Trust Series 2023-4, Class A1
5.81% (1)		05/25/68		52,764		52,677
Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates Series 2004-1, Class 2A1
4.39% (1 mo. USD Term SOFR + 0.714%) (2)		04/25/34		8,139		7,976
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $1,277,032)						1,270,849
CORPORATE BONDS — 67.7%
Aerospace & Defense — 0.7%
Boeing Co.
3.63%		02/01/31		100,000		95,153
General Electric Co.
4.30% (3 mo. USD Term SOFR + 0.642%) (2)		05/05/26		10,000		10,006
Honeywell Aerospace, Inc.
4.95% (1)		03/16/36		70,000		69,486
						174,645
Agriculture — 1.1%
Altria Group, Inc.
4.88%		02/04/28		40,000		40,362
BAT Capital Corp. (United Kingdom)
4.39%		08/15/37		95,000		86,380
Imperial Brands Finance PLC (United Kingdom)
4.50% (1)		06/30/28		35,000		35,032
Philip Morris International, Inc.
5.75%		11/17/32		60,000		63,168
Reynolds American, Inc. (United Kingdom)
5.70%		08/15/35		50,000		51,460
						276,402
Airlines — 0.6%
Delta Air Lines Pass-Through Trust Series 2020-1, Class AA
2.00%		12/10/29		16,778		16,241
JetBlue Pass-Through Trust Series 2019-1, Class AA
2.75%		11/15/33		23,746		20,962
JetBlue Pass-Through Trust Series 2020-1, Class A
4.00%		05/15/34		23,549		22,226
United Airlines Pass-Through Trust Series 2023-1, Class A
5.80%		07/15/37		91,064		93,836
						153,265

Issues	Maturity Date		Principal Amount		Value
Auto Manufacturers — 0.2%
Volkswagen Group of America Finance LLC (Germany)
5.65% (1)		03/25/32	$	35,000	$	35,563
5.80% (1)		03/27/35		20,000		20,007
						55,570
Banks — 13.9%
Bank of America Corp.
2.30% (1 day USD SOFR + 1.220%) (2)		07/21/32		442,000		390,220
2.59% (1 day USD SOFR + 2.150%) (2)		04/29/31		195,000		180,172
5.47% (1 day USD SOFR + 1.650%) (2)		01/23/35		5,000		5,103
Bank of New York Mellon Corp.
5.83% (1 day USD SOFR Index + 2.074%) (2)		10/25/33		170,000		180,348
Citigroup, Inc.
2.52% (1 day USD SOFR + 1.177%) (2)		11/03/32		225,000		198,747
2.56% (1 day USD SOFR + 1.167%) (2)		05/01/32		70,000		62,655
3.06% (1 day USD SOFR + 1.351%) (2)		01/25/33		32,000		28,902
5.33% (1 day USD SOFR + 1.465%) (2)		03/27/36		70,000		70,242
Goldman Sachs Group, Inc.
1.95% (1 day USD SOFR + 0.913%) (2)		10/21/27		50,000		49,316
2.65% (1 day USD SOFR + 1.264%) (2)		10/21/32		212,000		188,301
5.02% (1 day USD SOFR + 1.420%) (2)		10/23/35		40,000		39,290
5.54% (1 day USD SOFR + 1.380%) (2)		01/28/36		75,000		76,291
HSBC Holdings PLC (United Kingdom)
2.80% (1 day USD SOFR + 1.187%) (2)		05/24/32		155,000		139,509
JPMorgan Chase & Co.
1.58% (1 day USD SOFR + 0.885%) (2)		04/22/27		205,000		204,668
1.95% (1 day USD SOFR + 1.065%) (2)		02/04/32		365,000		321,799
2.96% (1 day USD SOFR + 1.260%) (2)		01/25/33		135,000		122,469
5.29% (1 day USD SOFR + 1.460%) (2)		07/22/35		55,000		55,618
Morgan Stanley
1.79% (1 day USD SOFR + 1.034%) (2)		02/13/32		205,000		177,803
1.93% (1 day USD SOFR + 1.020%) (2)		04/28/32		215,000		186,379
5.25% (1 day USD SOFR + 1.870%) (2)		04/21/34		25,000		25,109

See accompanying Notes to Financial Statements.

17

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
5.59% (1 day USD SOFR + 1.418%) (2)		01/18/36	$	75,000	$	76,531
5.83% (1 day USD SOFR + 1.580%) (2)		04/19/35		60,000		62,302
Morgan Stanley Private Bank NA
4.73% (1 day USD SOFR + 1.080%) (2)		07/18/31		50,000		49,874
PNC Financial Services Group, Inc.
5.22% (1 day USD SOFR + 1.072%) (2)		01/29/31		150,000		153,010
5.68% (1 day USD SOFR + 1.902%) (2)		01/22/35		5,000		5,149
Santander U.K. Group Holdings PLC (United Kingdom)
2.47% (1 day USD SOFR + 1.220%) (2)		01/11/28		30,000		29,505
U.S. Bancorp
4.84% (1 day USD SOFR + 1.600%) (2)		02/01/34		140,000		138,559
5.68% (1 day USD SOFR + 1.860%) (2)		01/23/35		5,000		5,169
Wells Fargo & Co.
2.57% (3 mo. USD Term SOFR + 1.262%) (2)		02/11/31		65,000		60,180
3.35% (1 day USD SOFR + 1.500%) (2)		03/02/33		295,000		270,763
5.50% (1 day USD SOFR + 1.780%) (2)		01/23/35		25,000		25,466
						3,579,449
Beverages — 1.9%
Bacardi Ltd.
4.70% (1)		05/15/28		65,000		64,918
Becle SAB de CV (Mexico)
2.50% (1)		10/14/31		70,000		59,983
Coca-Cola Co.
4.65%		08/14/34		45,000		45,332
Constellation Brands, Inc.
2.25%		08/01/31		15,000		13,244
2.88%		05/01/30		30,000		28,098
Diageo Investment Corp. (United Kingdom)
5.63%		04/15/35		200,000		207,374
JDE Peet’s NV (Netherlands)
2.25% (1)		09/24/31		75,000		65,187
						484,136
Biotechnology — 1.0%
Amgen, Inc.
5.25%		03/02/33		110,000		112,981
Biogen, Inc.
5.75%		05/15/35		70,000		72,432

Issues	Maturity Date		Principal Amount		Value
Biotechnology (Continued)
Illumina, Inc.
2.55%		03/23/31	$	25,000	$	22,416
5.75%		12/13/27		15,000		15,300
Regeneron Pharmaceuticals, Inc.
1.75%		09/15/30		20,000		17,744
Royalty Pharma PLC
1.75%		09/02/27		25,000		24,102
						264,975
Chemicals — 0.4%
International Flavors & Fragrances, Inc.
2.30% (1)		11/01/30		95,000		84,592
LYB International Finance III LLC
5.88%		01/15/36		15,000		15,054
						99,646
Commercial Services — 0.8%
Global Payments, Inc.
5.30%		08/15/29		60,000		60,442
Northwestern University
3.69%		12/01/38		20,000		17,725
RELX Capital, Inc. (United Kingdom)
3.00%		05/22/30		20,000		18,839
Rollins, Inc.
5.25%		02/24/35		100,000		99,864
S&P Global, Inc.
2.90%		03/01/32		10,000		9,129
						205,999
Computers — 1.1%
Booz Allen Hamilton, Inc.
5.95%		04/15/35		55,000		55,459
Dell International LLC/EMC Corp.
4.50%		02/15/31		115,000		113,553
5.00%		04/01/30		70,000		70,904
Gartner, Inc.
4.95%		03/20/31		45,000		43,934
						283,850
Cosmetics/Personal Care — 0.1%
Kenvue, Inc.
4.90%		03/22/33		15,000		15,119
Diversified Financial Services — 2.5%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
3.00%		10/29/28		80,000		77,052
3.30%		01/30/32		40,000		36,384
3.88%		01/23/28		16,000		15,847
Air Lease Corp.
3.63%		12/01/27		26,000		25,620
4.63%		10/01/28		30,000		29,869

See accompanying Notes to Financial Statements.

18

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Diversified Financial Services (Continued)
American Express Co.
4.92% (1 day USD SOFR + 1.220%) (2)		07/20/33	$	50,000	$	50,182
6.49% (1 day USD SOFR + 1.940%) (2)		10/30/31		100,000		107,471
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27		21,000		20,308
2.75% (1)		02/21/28		10,000		9,663
Blackrock, Inc.
3.75%		07/18/35	EUR	100,000		113,946
Capital One Financial Corp.
6.70%		11/29/32		15,000		16,314
Intercontinental Exchange, Inc.
1.85%		09/15/32		30,000		25,316
Lseg U.S. Fin Corp. (United Kingdom)
5.25% (1)		03/23/36		40,000		39,633
Mastercard, Inc.
4.55%		01/15/35		80,000		78,623
						646,228
Electric — 7.0%
Alliant Energy Corp.
5.75% (5 yr. CMT + 2.077%) (2)		04/01/56		85,000		82,652
Alliant Energy Finance LLC
5.95% (1)		03/30/29		35,000		36,312
Ameren Corp.
3.50%		01/15/31		50,000		47,479
American Electric Power Co., Inc.
5.80% (5 yr. CMT + 2.128%) (2)		03/15/56		95,000		93,834
Appalachian Power Co.
3.30%		06/01/27		20,000		19,744
Arizona Public Service Co.
6.35%		12/15/32		100,000		107,400
Ausgrid Finance Pty. Ltd. (Australia)
5.95% (8)		12/10/35	AUD	20,000		13,400
Berkshire Hathaway Energy Co.
1.65%		05/15/31		25,000		21,693
Black Hills Corp.
4.35%		05/01/33		36,000		34,275
CenterPoint Energy, Inc.
5.95% (5 yr. CMT + 2.223%) (2)		04/01/56		70,000		69,258
Commonwealth Edison Co.
6.45%		01/15/38		20,000		22,009
Dominion Energy, Inc.
6.20% (5 yr. CMT + 2.006%) (2)		02/15/56		70,000		69,453
Duke Energy Corp.
2.55%		06/15/31		35,000		31,487

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
Duke Energy Florida LLC
5.88%		11/15/33	$	45,000	$	47,809
Entergy Corp.
6.10% (5 yr. CMT + 2.013%) (2)		06/15/56		30,000		29,582
Eurogrid GmbH (Germany)
1.11% (8)		05/15/32	EUR	100,000		98,530
Evergy Missouri West, Inc.
5.65% (1)		06/01/34		50,000		51,240
Eversource Energy
4.60%		07/01/27		30,000		30,040
5.13%		05/15/33		70,000		69,894
Exelon Corp.
5.30%		03/15/33		35,000		35,857
FirstEnergy Transmission LLC
4.55%		01/15/30		25,000		25,000
Florida Power & Light Co.
5.30%		06/15/34		205,000		210,853
ITC Holdings Corp.
4.95% (1)		09/22/27		20,000		20,107
Jersey Central Power & Light Co.
2.75% (1)		03/01/32		90,000		80,923
Narragansett Electric Co.
3.40% (1)		04/09/30		35,000		33,470
Oklahoma Gas & Electric Co.
5.40%		01/15/33		15,000		15,460
Oncor Electric Delivery Co. LLC
5.35%		04/01/35		200,000		204,478
Southern Co.
6.00% (5 yr. CMT + 1.993%) (2)		04/01/58		65,000		65,363
Southwestern Electric Power Co.
4.10%		09/15/28		15,000		14,922
5.30%		04/01/33		105,000		106,674
Xcel Energy, Inc.
3.40%		06/01/30		10,000		9,560
						1,798,758
Electronics — 0.3%
Amphenol Corp.
4.63%		02/15/36		40,000		38,695
Hubbell, Inc.
4.80%		11/15/35		40,000		38,970
						77,665
Engineering & Construction — 0.1%
Sydney Airport Finance Co. Pty. Ltd. (Australia)
3.63% (1)		04/28/26		15,000		14,991
Entertainment — 0.2%
Flutter Treasury DAC (Ireland)
5.88% (1)		06/04/31		65,000		64,300

See accompanying Notes to Financial Statements.

19

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Environmental Control — 0.0%
Republic Services, Inc.
2.90%		07/01/26	$	5,000	$	4,988
Food — 0.8%
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings
3.75%		12/01/31		32,000		30,001
6.75%		03/15/34		50,000		54,944
Mars, Inc.
5.20% (1)		03/01/35		30,000		30,301
Pilgrim’s Pride Corp.
3.50%		03/01/32		60,000		54,508
Smithfield Foods, Inc.
2.63% (1)		09/13/31		40,000		35,187
						204,941
Forest Products & Paper — 0.1%
Georgia-Pacific LLC
2.30% (1)		04/30/30		20,000		18,360
Gas — 2.9%
Boston Gas Co.
3.76% (1)		03/16/32		25,000		23,464
CenterPoint Energy Resources Corp.
5.40%		03/01/33		130,000		133,526
East Ohio Gas Co.
2.00% (1)		06/15/30		15,000		13,484
KeySpan Gas East Corp.
5.99% (1)		03/06/33		85,000		88,824
National Gas Transmission PLC (United Kingdom)
4.25% (8)		04/05/30	EUR	100,000		117,795
NiSource, Inc.
5.40%		06/30/33		75,000		76,882
5.75% (5 yr. CMT + 2.035%) (2)		07/15/56		40,000		39,418
Northwest Natural Holding Co.
7.00% (5 yr. CMT + 2.701%) (2)		09/15/55		55,000		55,594
Piedmont Natural Gas Co., Inc.
2.50%		03/15/31		10,000		9,034
5.40%		06/15/33		65,000		66,771
Southern Co. Gas Capital Corp.
4.95%		09/15/34		5,000		4,944
5.15%		09/15/32		20,000		20,325
5.75%		09/15/33		102,000		106,079
						756,140
Health Care-Products — 3.1%
Abbott Laboratories
4.65%		03/15/36		105,000		102,634
Alcon Finance Corp.
2.75% (1)		09/23/26		40,000		39,697

Issues	Maturity Date		Principal Amount		Value
Health Care-Products (Continued)
Augusta SpinCo Corp.
5.25%		03/23/36	$	40,000	$	40,024
Baxter International, Inc.
3.95%		04/01/30		10,000		9,591
Dentsply Sirona, Inc.
3.25%		06/01/30		35,000		32,239
GE HealthCare Technologies, Inc.
4.80%		08/14/29		65,000		65,599
Medline Borrower LP
3.88% (1)		04/01/29		135,000		130,717
Revvity, Inc.
2.55%		03/15/31		35,000		31,541
Smith & Nephew PLC (United Kingdom)
2.03%		10/14/30		30,000		26,738
STERIS Irish FinCo UnLtd Co.
2.70%		03/15/31		30,000		27,248
Stryker Corp.
3.38%		09/11/32	EUR	100,000		113,392
Thermo Fisher Scientific, Inc.
4.90%		02/12/36		95,000		94,230
5.09%		08/10/33		34,000		34,686
VSP Optical Group, Inc.
5.45% (1)		12/01/35		50,000		49,027
						797,363
Health Care-Services — 3.5%
Centene Corp.
3.00%		10/15/30		85,000		74,502
Cigna Group
2.40%		03/15/30		105,000		97,047
Elevance Health, Inc.
5.00%		01/15/36		25,000		24,504
5.20%		02/15/35		45,000		45,004
5.50%		10/15/32		60,000		61,881
Fresenius Medical Care U.S. Finance III, Inc. (Germany)
1.88% (1)		12/01/26		20,000		19,625
HCA, Inc.
3.63%		03/15/32		75,000		69,671
4.13%		06/15/29		65,000		64,171
Health Care Service Corp. A Mutual Legal Reserve Co.
5.45% (1)		06/15/34		45,000		45,069
Humana, Inc.
3.70%		03/23/29		10,000		9,724
5.38%		04/15/31		150,000		151,608
IQVIA, Inc.
6.25%		02/01/29		35,000		36,397
Premier Health Partners
2.91%		11/15/26		15,000		14,804
Providence St. Joseph Health Obligated Group
2.75%		10/01/26		20,000		19,848

See accompanying Notes to Financial Statements.

20

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Health Care-Services (Continued)
RWJBH Corporate Services, Inc.
4.00%		07/01/28	$	15,000	$	14,950
UnitedHealth Group, Inc.
5.15%		07/15/34		105,000		105,992
Universal Health Services, Inc.
1.65%		09/01/26		35,000		34,592
						889,389
Household Products/Wares — 0.1%
Church & Dwight Co., Inc.
5.60%		11/15/32		20,000		21,048
Insurance — 2.8%
Aon Corp.
2.80%		05/15/30		40,000		37,316
Athene Global Funding
1.61% (1)		06/29/26		5,000		4,966
Brown & Brown, Inc.
4.20%		03/17/32		30,000		28,386
Equitable Financial Life Global Funding
1.30% (1)		07/12/26		25,000		24,809
Farmers Exchange Capital
7.05% (1)		07/15/28		20,000		20,781
Farmers Insurance Exchange
4.75% (3 mo. USD LIBOR + 3.231%) (1),(2)		11/01/57		65,000		54,535
Marsh & McLennan Cos., Inc.
2.25%		11/15/30		30,000		27,137
4.95%		03/15/36		40,000		39,634
Metropolitan Life Global Funding I
2.95% (1)		04/09/30		180,000		169,202
MMI Capital Trust I
7.63%		12/15/27		50,000		52,161
New York Life Global Funding
5.00% (1)		01/09/34		115,000		115,783
New York Life Insurance Co.
5.88% (1)		05/15/33		65,000		68,268
NLG Global Funding
4.35% (1)		09/15/30		55,000		54,103
Willis North America, Inc.
5.35%		05/15/33		25,000		25,304
						722,385
Internet — 2.5%
Airbnb, Inc.
5.25%		03/16/36		70,000		70,044
Alphabet, Inc.
4.70%		11/15/35		75,000		74,164
4.80%		02/15/36		65,000		64,729
Amazon.com, Inc.
4.88%		03/13/36		125,000		123,886

Issues	Maturity Date		Principal Amount		Value
Internet (Continued)
AppLovin Corp.
5.50%		12/01/34	$	70,000	$	69,469
Meta Platforms, Inc.
4.88%		11/15/35		245,000		240,448
						642,740
Leisure Time — 0.2%
Royal Caribbean Cruises Ltd.
5.38%		01/15/36		65,000		63,903
Lodging — 0.7%
Choice Hotels International, Inc.
5.85%		08/01/34		40,000		40,335
Hyatt Hotels Corp.
5.05%		03/30/28		70,000		70,739
Las Vegas Sands Corp.
6.00%		06/14/30		55,000		56,668
						167,742
Machinery-Construction & Mining — 0.2%
GE Vernova, Inc.
4.88%		02/04/36		40,000		39,666
Media — 1.1%
Charter Communications Operating LLC/ Charter Communications Operating Capital
2.80%		04/01/31		185,000		166,102
4.80%		03/01/50		35,000		26,019
Comcast Corp.
1.95%		01/15/31		10,000		8,878
Fox Corp.
6.50%		10/13/33		65,000		69,781
						270,780
Miscellaneous Manufacturers — 0.2%
Dyno Nobel Ltd. (Australia)
5.40%		11/08/32	AUD	60,000		39,481
Oil & Gas — 0.2%
Aker BP ASA (Norway)
3.10% (1)		07/15/31		67,000		61,128
Packaging & Containers — 1.9%
Amcor Finance USA, Inc.
5.63%		05/26/33		55,000		56,364
AptarGroup, Inc.
4.75%		03/30/31		65,000		64,578
Berry Global, Inc.
1.65%		01/15/27		20,000		19,588
5.65%		01/15/34		85,000		86,964
Sealed Air Corp.
1.57% (1)		10/15/26		30,000		29,966

See accompanying Notes to Financial Statements.

21

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Packaging & Containers (Continued)
Smurfit Kappa Treasury ULC (Ireland)
5.44%		04/03/34	$	200,000	$	202,674
Sonoco Products Co.
3.13%		05/01/30		25,000		23,521
						483,655
Pharmaceuticals — 2.8%
AbbVie, Inc.
5.20%		03/15/35		95,000		96,761
Bayer U.S. Finance II LLC (Germany)
4.38% (1)		12/15/28		25,000		24,773
6.50% (1)		11/21/33		35,000		37,242
Becton Dickinson & Co.
3.70%		06/06/27		20,000		19,840
Bristol-Myers Squibb Co.
5.20%		02/22/34		30,000		30,772
CVS Health Corp.
3.25%		08/15/29		40,000		38,366
5.30%		06/01/33		150,000		151,432
Elanco Animal Health, Inc.
6.40%		08/28/28		15,000		15,414
Eli Lilly & Co.
4.90%		10/15/35		75,000		75,083
EMD Finance LLC (Germany)
5.00% (1)		10/15/35		80,000		78,902
Johnson & Johnson
5.00%		03/01/35		45,000		46,350
Novartis Capital Corp.
4.60%		03/18/33		15,000		14,942
4.90%		03/18/36		65,000		64,864
Pfizer Investment Enterprises Pte. Ltd.
4.75%		05/19/33		35,000		34,888
						729,629
Pipelines — 0.4%
Pipeline Funding Co. LLC
7.50% (1)		01/15/30		15,288		15,771
Southern Natural Gas Co. LLC
4.80% (1)		03/15/47		30,000		25,817
TransCanada PipeLines Ltd. (Canada)
4.63%		03/01/34		30,000		29,031
5.60%		03/31/34		35,000		36,018
						106,637
Real Estate — 0.1%
Vonovia SE (Germany)
5.72% (8)		09/03/35	AUD	40,000		25,900
REIT — 4.1%
American Assets Trust LP
3.38%		02/01/31		25,000		22,557

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
American Homes 4 Rent LP
2.38%		07/15/31	$	30,000	$	26,436
American Tower Corp.
2.30%		09/15/31		148,000		130,324
2.90%		01/15/30		15,000		14,096
Americold Realty Operating Partnership LP
5.60%		05/15/32		20,000		19,751
Crown Castle, Inc.
2.25%		01/15/31		120,000		106,183
3.30%		07/01/30		25,000		23,452
CubeSmart LP
4.38%		02/15/29		15,000		14,909
Digital Realty Trust LP
3.60%		07/01/29		10,000		9,718
DOC Dr. LLC (REIT)
4.30%		03/15/27		26,000		25,982
Equinix, Inc.
2.50%		05/15/31		35,000		31,301
Essex Portfolio LP
2.65%		03/15/32		10,000		8,798
5.50%		04/01/34		35,000		35,439
Extra Space Storage LP
2.20%		10/15/30		40,000		35,847
GLP Capital LP/GLP Financing II, Inc.
4.00%		01/15/30		2,000		1,923
5.30%		01/15/29		20,000		20,196
5.63%		03/01/36		40,000		38,933
Healthcare Realty Holdings LP
3.10%		02/15/30		15,000		14,121
Host Hotels & Resorts LP
3.50%		09/15/30		30,000		28,213
5.70%		06/15/32		40,000		41,038
Hudson Pacific Properties LP
3.95%		11/01/27		25,000		23,689
Invitation Homes Operating Partnership LP
5.50%		08/15/33		20,000		20,033
Kilroy Realty LP (REIT)
3.05%		02/15/30		5,000		4,567
LXP Industrial Trust
2.38%		10/01/31		25,000		21,727
2.70%		09/15/30		25,000		22,819
NNN REIT, Inc.
5.60%		10/15/33		40,000		41,170
Phillips Edison Grocery Center Operating Partnership I LP (REIT)
4.75%		03/15/33		50,000		48,781
Piedmont Operating Partnership LP
2.75%		04/01/32		35,000		29,428
Realty Income Corp.
5.13%		04/15/35		25,000		25,033

See accompanying Notes to Financial Statements.

22

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Rexford Industrial Realty LP
2.15%		09/01/31	$	30,000	$	26,052
UDR, Inc. (REIT)
4.40%		01/26/29		10,000		9,980
VICI Properties LP
5.13%		05/15/32		52,000		51,320
Weyerhaeuser Co.
3.38%		03/09/33		15,000		13,539
WP Carey, Inc.
4.65%		07/15/30		75,000		74,561
						1,061,916
Retail — 0.7%
AutoNation, Inc.
3.85%		03/01/32		25,000		23,259
AutoZone, Inc.
5.13%		06/15/30		40,000		40,726
Starbucks Corp.
2.55%		11/15/30		20,000		18,311
4.80%		05/15/30		90,000		91,147
						173,443
Savings & Loans — 0.1%
Nationwide Building Society (United Kingdom)
1.50% (1)		10/13/26		25,000		24,650
Semiconductors — 0.6%
Broadcom, Inc.
3.42%		04/15/33		20,000		18,312
Foundry JV Holdco LLC
5.50% (1)		01/25/31		55,000		56,235
Intel Corp.
2.00%		08/12/31		85,000		73,652
Micron Technology, Inc.
2.70%		04/15/32		15,000		13,530
						161,729
Software — 3.9%
Atlassian Corp.
5.50%		05/15/34		105,000		102,860
Cadence Design Systems, Inc.
4.70%		09/10/34		110,000		108,154
Constellation Software, Inc. (Canada)
5.46% (1)		02/16/34		100,000		98,015
Fiserv, Inc.
2.65%		06/01/30		20,000		18,234
5.25%		08/11/35		75,000		72,952
5.63%		08/21/33		30,000		30,332
Open Text Corp. (Canada)
6.90% (1)		12/01/27		72,000		74,012

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
Oracle Corp.
4.70%		09/27/34	$	75,000	$	68,451
5.70%		02/04/36		35,000		33,667
6.25%		11/09/32		90,000		92,475
Paychex, Inc.
5.60%		04/15/35		140,000		140,731
Salesforce, Inc.
4.90%		09/15/31		25,000		24,971
5.55%		03/15/36		50,000		49,861
Synopsys, Inc.
5.15%		04/01/35		30,000		30,065
Take-Two Interactive Software, Inc.
4.00%		04/14/32		50,000		47,705
						992,485
Telecommunications — 2.3%
Cisco Systems, Inc.
5.05%		02/26/34		90,000		91,387
Sprint Capital Corp.
8.75%		03/15/32		85,000		101,202
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/ Sprint Spectrum Co. III LLC
5.15% (1)		03/20/28		130,000		130,669
T-Mobile USA, Inc.
2.55%		02/15/31		179,000		162,700
3.50%		04/15/31		60,000		56,815
5.05%		07/15/33		55,000		55,355
						598,128
Toys/Games/Hobbies — 0.2%
Mattel, Inc.
5.00%		11/17/30		60,000		59,740
Transportation — 0.3%
Aurizon Network Pty. Ltd. (Australia)
2.90% (8)		09/02/30	AUD	40,000		24,128
Norfolk Southern Corp.
3.00%		03/15/32		15,000		13,695
Pacific National Finance Pty. Ltd. (Australia)
3.70%		09/24/29	AUD	30,000		18,726
Union Pacific Corp.
2.38%		05/20/31		10,000		9,066
2.89%		04/06/36		20,000		16,814
						82,429
Total Corporate Bonds
(Cost: $17,297,682)						17,395,393

See accompanying Notes to Financial Statements.

23

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
MUNICIPAL BONDS — 0.4%
Maryland Economic Development Corp., Revenue Bonds
5.43%		05/31/56	$	50,000	$	48,569
Santa Monica Community College District, General Obligation Unlimited
2.05%		08/01/33		20,000		16,903
University of Michigan, Revenue Bonds
3.44%		04/01/31		25,000		24,274
Total Municipal Bonds
(Cost: $95,000)						89,746
FOREIGN GOVERNMENT BONDS — 0.6%
New South Wales Treasury Corp.
5.25% (8)		02/24/38	AUD	105,000		68,788
Queensland Treasury Corp.
5.25% (8)		08/13/38	AUD	115,000		74,830
Treasury Corp. of Victoria
2.00%		11/20/37	AUD	35,000		16,245
Total Foreign Government Bonds
(Cost: $160,401)						159,863
U.S. TREASURY SECURITIES — 9.2%
U.S. Treasury Notes
3.38%		02/29/28		18,000		17,861
3.50%		03/15/29		195,000		193,301
3.88%		03/31/28		880,000		881,392
3.88%		03/31/31		1,066,000		1,062,669
4.13%		02/15/36		211,000		207,720
Total U.S. Treasury Securities
(Cost: $2,361,020)						2,362,943
Total Fixed Income Securities
(Cost: $27,518,861)						27,362,534

Issues	Maturity Date		Principal Amount		Value
CONVERTIBLE SECURITIES — 0.0%
CONVERTIBLE CORPORATE BONDS — 0.0%
Commercial Services — 0.0%
Worldline SA (France)
0.00% (7),(8)		07/30/26	EUR	3,764	$	4,402
Total Convertible Corporate Bonds
(Cost: $4,076)						4,402
Issues			Shares		Value
MONEY MARKET INVESTMENTS — 3.7%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (9)				64,764		64,764
TCW Central Cash Fund, 3.69% (9),(10)				893,446		893,446
Total Money Market Investments
(Cost: $958,210)						958,210
Total Investments (110.2%)
(Cost: $28,481,147)						28,325,146
Liabilities In Excess Of Other Assets (-10.2%)					(2,624,323)
Net Assets (100.0%)					$	25,700,823

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
44	2-Year U.S. Treasury Note Futures		06/30/26	$	9,193,496		$	9,127,594		$	(65,902	)
Short Futures
3	10-Year Australian Bond Futures		06/15/26	$	(221,658	)	$	(221,402	)	$	256
16	10-Year U.S. Treasury Note Futures		06/18/26		(1,843,175	)		(1,816,250	)		26,925
4	3-Year Australian Bond Futures		06/15/26		(284,585	)		(283,973	)		612
17	5-Year U.S. Treasury Note Futures		06/30/26		(1,863,785	)		(1,839,055	)		24,730
1	Euro-Bobl Futures		06/08/26		(135,601	)		(132,998	)		2,603
2	Euro-Bund Futures		06/08/26		(296,516	)		(288,949	)		7,567
3	U.S. Ultra Long Bond Futures		06/18/26		(360,510	)		(349,688	)		10,822
				$	(5,005,830	)	$	(4,932,315	)	$	73,515

See accompanying Notes to Financial Statements.

24

TCW MetWest Investment Grade Credit Fund

March 31, 2026

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (11)
Goldman Sachs & Co.		AUD		10,071		04/01/26	$	6,984	$	6,897	$	(87	)
JP Morgan Chase Bank		AUD		442,576		04/01/26		304,668		303,121		(1,547	)
Citibank N.A.		EUR		1,614		04/01/26		1,876		1,859		(17	)
Goldman Sachs & Co.		EUR		402,590		04/01/26		464,053		463,864		(189	)
							$	777,581	$	775,741	$	(1,840	)
SELL (12)
Bank of America		AUD		432,500		04/01/26	$	290,315	$	296,220	$	(5,905	)
Citibank N.A.		AUD		20,146		04/01/26		13,566		13,798		(232	)
JP Morgan Chase Bank		AUD		432,515		06/26/26		297,244		295,854		1,390
Bank of America		EUR		404,204		04/01/26		475,825		465,723		10,102
Goldman Sachs & Co.		EUR		394,920		06/26/26		456,798		456,778		20
							$	1,533,748	$	1,528,373	$	5,375

Notes to the Schedule of Investments:

ACES Alternative Credit Enhancement Securities.

AUD Australian Dollar.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

I/F Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates.

I/O Interest Only Security.

LIBOR London Interbank Offered Rate.

PAC Planned Amortization Class.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

STACR Structured Agency Credit Risk.

STRIPS Separate Trading of Registered Interest and Principal Securities.

TBA To Be Announced.

USD United States Dollar.

(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 March 31, 2026, the value of these securities amounted to $5,478,215 or 21.3% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(4) 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.

(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) Restricted security (Note 11).

(7) Security is not accruing interest.

(8) 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 March 31, 2026, the value of these securities amounted to $427,773 or 1.7% of net assets.

(9) Rate disclosed is the 7-day net yield as of March 31, 2026.

(10) Affiliated issuer.

(11) Fund buys foreign currency, sells USD.

(12) Fund sells foreign currency, buys USD.

See accompanying Notes to Financial Statements.

25

TCW MetWest Investment Grade Credit Fund

Schedule of Investments (Continued) March 31, 2026

The summary of the TCW MetWest Investment Grade Credit Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund
	$	811,687	$	29,192,759	$	29,111,000		893,446	$	893,446	$	44,124	$	—	$	—	$	—
Total									$	893,446	$	44,124	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

26

TCW MetWest Investment Grade Credit Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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	$	—		$	17,395,393		$	—	$	17,395,393
Residential Mortgage-Backed Securities — Agency		—			3,453,739			—		3,453,739
U.S. Treasury Securities		—			2,362,943			—		2,362,943
Commercial Mortgage-Backed Securities — Non-Agency		—			2,013,069			—		2,013,069
Residential Mortgage-Backed Securities — Non-Agency		—			1,270,849			—		1,270,849
Asset-Backed Securities		—			562,409			26,503		588,912
Foreign Government Bonds		—			159,863			—		159,863
Municipal Bonds		—			89,746			—		89,746
Commercial Mortgage-Backed Securities — Agency		—			28,020			—		28,020
Total Fixed Income Securities		—			27,336,031			26,503		27,362,534
Convertible Securities
Convertible Corporate Bonds		—			4,402			—		4,402
Equity Securities
Money Market Investments		958,210			—			—		958,210
Total Investments	$	958,210		$	27,340,433		$	26,503	$	28,325,146
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			11,512			—		11,512
Futures Contracts
Interest Rate Risk		73,515			—			—		73,515
Total	$	1,031,725		$	27,351,945		$	26,503	$	28,410,173
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(65,902	)	$	—		$	—	$	(65,902	)
Forward Currency Contracts
Foreign Currency Risk		—			(7,977	)		—		(7,977	)
Total	$	(65,902	)	$	(7,977	)	$	—	$	(73,879	)

See accompanying Notes to Financial Statements.

27

TCW MetWest Low Duration Bond Fund

Schedule of Investments

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 107.2% of Net Assets
ASSET-BACKED SECURITIES — 15.7%
321 Henderson Receivables I LLC Series 2007-1A, Class A1
3.99% (1 mo. USD Term SOFR + 0.314%) (1),(2)		03/15/42	$	1,523,428	$	1,467,167
522 Funding CLO Ltd. Series 2020-6A, Class A1R2
4.87% (3 mo. USD Term SOFR + 1.200%) (1),(2)		10/23/34		4,550,000		4,548,403
Access Group, Inc. Series 2015-1, Class A
4.48% (30 day USD SOFR Average + 0.814%) (1),(2)		07/25/56		516,225		511,237
AGL CLO 13 Ltd. Series 2021-13A, Class A1R
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		10/20/34		2,450,000		2,448,682
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2
1.94% (1)		08/15/46		1,600,000		1,583,808
Aligned Data Centers Issuer LLC Series 2022-1A, Class A2
6.35% (1)		10/15/47		1,785,000		1,780,045
Aligned Data Centers Issuer LLC Series 2023-1A, Class A2
6.00% (1)		08/17/48		1,765,000		1,773,447
ALLO Issuer LLC Series 2023-1A, Class A2
6.20% (1)		06/20/53		3,750,000		3,778,099
AMMC CLO 24 Ltd. Series 2021-24A, Class AR
4.87% (3 mo. USD Term SOFR + 1.200%) (1),(2)		01/20/35		3,000,000		2,998,053
Avis Budget Rental Car Funding AESOP LLC Series 2022-5A, Class C
6.24% (1)		04/20/27		210,000		210,167
Bain Capital Credit CLO Ltd. Series 2020-5A, Class ARR
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		04/20/34		4,600,000		4,601,150
Bain Capital Credit CLO Ltd. Series 2021-3A, Class AR
4.73% (3 mo. USD Term SOFR + 1.060%) (1),(2)		07/24/34		4,500,000		4,491,094
Barings CLO Ltd. Series 2021-3A, Class AR
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		01/18/35		4,500,000		4,497,124
BlueMountain CLO XXX Ltd. Series 2020-30A, Class AR2
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		04/15/35		2,500,000		2,497,542

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Capital Street Master Trust Series 2025-1, Class B
5.17% (30 day USD SOFR Average + 1.500%) (1),(2)		08/16/29	$	1,525,000	$	1,522,043
CARS-DB5 LP Series 2021-1A, Class A1
1.44% (1)		08/15/51		1,896,318		1,872,281
Cedar Funding VI CLO Ltd. Series 2016-6A, Class AR3
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		04/20/34		4,500,000		4,498,204
CIFC Funding Ltd. Series 2022-2A, Class A1R
4.64% (3 mo. USD Term SOFR + 0.970%) (1),(2)		04/19/35		4,500,000		4,487,701
CIFC Funding Ltd. Series 2022-4A, Class AR
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		07/16/35		1,775,000		1,772,540
CLI Funding VI LLC Series 2020-1A, Class A
2.08% (1)		09/18/45		334,220		314,644
Diamond Infrastructure Funding LLC Series 2021-1A, Class A
1.76% (1)		04/15/49		4,800,000		4,693,421
Dryden 40 Senior Loan Fund Series 2015-40A, Class AR2
4.80% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/15/31		1,055,743		1,056,767
Dryden 86 CLO Ltd. Series 2020-86A, Class A1R2
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		07/17/34		4,500,000		4,502,250
Elmwood CLO 15 Ltd. Series 2022-2A, Class A1R
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		04/22/35		4,400,000		4,402,081
FHF Issuer Trust Series 2024-3A, Class A2
4.94% (1)		11/15/30		1,509,163		1,506,108
Global SC Finance VII SRL Series 2020-2A, Class A
2.26% (1)		11/19/40		2,054,196		1,977,126
Goal Capital Funding Trust Series 2006-1, Class B
5.30% (3 mo. USD LIBOR + 0.450%) (2)		08/25/42		744,331		724,677
GoldenTree Loan Management U.S. CLO 11 Ltd. Series 2021-11A, Class AR
4.75% (3 mo. USD Term SOFR + 1.080%) (1),(2)		10/20/34		2,600,000		2,599,134
Hotwire Funding LLC Series 2024-1A, Class A2
5.89% (1)		06/20/54		1,915,000		1,938,753

See accompanying Notes to Financial Statements.

28

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
HPS Loan Management Ltd. Series 2021-16A, Class A1R
4.78% (3 mo. USD Term SOFR + 1.110%) (1),(2)		01/23/35	$	4,000,000	$	3,998,224
HTS Fund II LLC Series 2025-1, Class A
5.35% (1)		06/23/45		1,535,000		1,534,265
Invesco CLO Ltd. Series 2021-2A, Class AR
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		07/15/34		4,000,000		3,998,208
JGWPT XXX LLC Series 2013-3A, Class A
4.08% (1)		01/17/73		2,090,224		1,996,496
LCM 29 Ltd. Series 29A, Class AR
5.00% (3 mo. USD Term SOFR + 1.332%) (1),(2)		04/15/31		586,921		587,726
LCM 33 Ltd. Series 33A, Class AR
4.85% (3 mo. USD Term SOFR + 1.180%) (1),(2)		07/20/34		5,000,000		4,997,835
LCM 37 Ltd. Series 37A, Class A1R
4.73% (3 mo. USD Term SOFR + 1.060%) (1),(2)		04/15/34		2,113,934		2,113,960
Navient Private Education Refi Loan Trust Series 2021-CA, Class A
1.06% (1)		10/15/69		521,289		473,918
Navient Private Education Refi Loan Trust Series 2021-FA, Class A
1.11% (1)		02/18/70		2,728,777		2,435,712
Nelnet Student Loan Trust Series 2013-1A, Class A
4.38% (30 day USD SOFR Average + 0.714%) (1),(2)		06/25/41		710,200		705,011
Neuberger Berman CLO XVI-S Ltd. Series 2017-16SA, Class XR2
4.62% (3 mo. USD Term SOFR + 0.950%) (1),(2)		04/15/39		1,750,000		1,750,842
Octagon Investment Partners 41 Ltd. Series 2019-2A, Class A1R
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		10/15/33		5,310,000		5,302,805
Octagon Investment Partners 45 Ltd. Series 2019-1A, Class A1RR
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		04/15/35		4,500,000		4,498,704
Octagon Investment Partners XVII Ltd. Series 2013-1A, Class BR2
5.33% (3 mo. USD Term SOFR + 1.662%) (1),(2)		01/25/31		432,382		432,609

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Palmer Square Loan Funding Ltd. Series 2024-3A, Class A2R
4.81% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/08/32	$	2,270,000	$	2,268,563
Park Avenue Institutional Advisers CLO Ltd. Series 2021- 2A, Class A1R
4.72% (3 mo. USD Term SOFR + 1.050%) (1),(2)		07/15/34		4,300,000		4,299,712
Rockford Tower CLO Ltd. Series 2017-3A, Class A
5.12% (3 mo. USD Term SOFR + 1.452%) (1),(2)		10/20/30		219		219
Rockford Tower CLO Ltd. Series 2018-1A, Class A
5.02% (3 mo. USD Term SOFR + 1.362%) (1),(2)		05/20/31		109,001		109,049
Rockford Tower CLO Ltd. Series 2019-1A, Class AR2
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		04/20/34		4,400,000		4,396,872
Rockford Tower CLO Ltd. Series 2019-2A, Class AR2
4.79% (3 mo. USD Term SOFR + 1.130%) (1),(2)		08/20/32		1,351,609		1,353,622
Skyline Aviation, Inc. Class A
3.23% (3)		07/03/38		4,768,165		4,505,534
SLM Student Loan Trust Series 2008-4, Class A4
5.80% (90 day USD SOFR Average + 1.912%) (2)		07/25/49		1,037,309		1,040,075
SLM Student Loan Trust Series 2008-6, Class A4
5.25% (90 day USD SOFR Average + 1.362%) (2)		07/25/23		599,438		597,441
SLM Student Loan Trust Series 2012-2, Class A
4.48% (30 day USD SOFR Average + 0.814%) (2)		01/25/29		1,116,580		1,091,411
SLM Student Loan Trust Series 2014-1, Class A3
4.38% (30 day USD SOFR Average + 0.714%) (2)		02/26/29		2,024,656		1,966,070
Store Master Funding I-VII & XIV Series 2019-1, Class A3
3.32% (1)		11/20/49		973,175		961,049
TCI-Symphony CLO Ltd. Series 2016-1A, Class AR2
4.93% (3 mo. USD Term SOFR + 1.282%) (1),(2)		10/13/32		2,146,999		2,148,680

See accompanying Notes to Financial Statements.

29

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Trestles CLO V Ltd. Series 2021-5A, Class A1R
4.92% (3 mo. USD Term SOFR + 1.250%) (1),(2)		10/20/34	$	2,500,000	$	2,499,175
Trinity Rail Leasing LLC Series 2019-1A, Class A
3.82% (1)		04/17/49		1,976,091		1,975,127
Vantage Data Centers Issuer LLC Series 2021-1A, Class A2
2.17% (1)		10/15/46		1,355,000		1,332,264
Vantage Data Centers LLC Series 2020-2A, Class A2
1.99% (1)		09/15/45		1,445,000		1,380,517
VB-S1 Issuer LLC Series 2022-1A, Class C2I
3.16% (1)		02/15/52		1,970,000		1,923,173
Total Asset-Backed Securities (Cost: $143,947,031)					143,728,616
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 20.8%
Federal Home Loan Mortgage Corp., Pool #SD8286
4.00%		01/01/53		2,912,671		2,755,158
Federal Home Loan Mortgage Corp., Pool #C46104
6.50%		09/01/29		507		513
Federal Home Loan Mortgage Corp., Pool #A45796
7.00%		01/01/33		323		328
Federal Home Loan Mortgage Corp. REMICS Series 2174, Class PN (PAC)
6.00%		07/15/29		68,086		69,473
Federal Home Loan Mortgage Corp. REMICS Series 2454, Class FQ
4.79% (30 day USD SOFR Average + 1.114%) (2)		06/15/31		1,209		1,222
Federal Home Loan Mortgage Corp. REMICS Series 2733, Class FB (PAC)
4.39% (30 day USD SOFR Average + 0.714%) (2)		10/15/33		629,610		634,262
Federal Home Loan Mortgage Corp. REMICS Series 3294, Class CB
5.50%		03/15/37		128,084		132,187
Federal Home Loan Mortgage Corp. REMICS Series 3300, Class FA
4.09% (30 day USD SOFR Average + 0.414%) (2)		08/15/35		206,087		205,759
Federal Home Loan Mortgage Corp. REMICS Series 3325, Class NF
4.09% (30 day USD SOFR Average + 0.414%) (2)		08/15/35		531,465		530,622
Federal Home Loan Mortgage Corp. REMICS Series 3524, Class FC
4.73% (30 day USD SOFR Average + 1.054%) (2)		06/15/38		149,823		151,665

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 3531, Class FM
4.69% (30 day USD SOFR Average + 1.014%) (2)		05/15/39	$	85,571	$	86,847
Federal Home Loan Mortgage Corp. REMICS Series 4959, Class JF
4.23% (30 day USD SOFR Average + 0.564%) (2)		03/25/50		3,824,254		3,758,144
Federal Home Loan Mortgage Corp. STRIPS Series 240, Class F
30 4.09% (30 day USD SOFR Average + 0.414%) (2)		07/15/36		637,983		635,298
Federal Home Loan Mortgage Corp. STRIPS Series 263, Class F
5 4.29% (30 day USD SOFR Average + 0.614%) (2)		06/15/42		826,893		824,148
Federal Home Loan Mortgage Corp. STRIPS Series 319, Class F
2 4.29% (30 day USD SOFR Average + 0.614%) (2)		11/15/43		3,777,545		3,752,761
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		2,136,937		2,025,140
Federal National Mortgage Association, Pool #MA4866
4.00%		01/01/53		2,238,765		2,120,600
Federal National Mortgage Association, Pool #MA4805
4.50%		11/01/52		12,289,697		11,911,185
Federal National Mortgage Association, Pool #MA5009
5.00%		05/01/53		4,019,760		3,978,468
Federal National Mortgage Association, Pool #AE0083
6.00%		01/01/40		305,807		322,059
Federal National Mortgage Association, Pool #AL0851
6.00%		10/01/40		354,261		373,089
Federal National Mortgage Association, Pool #735861
6.50%		09/01/33		2,939		3,066
Federal National Mortgage Association, Pool #770900
6.55% (1 yr. USD RFUCCT + 1.551%) (2)		04/01/34		51,056		51,690

See accompanying Notes to Financial Statements.

30

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 1997-76, Class FS
4.24% (30 day USD SOFR Average + 0.564%) (2)		09/17/27	$	678	$	678
Federal National Mortgage Association REMICS Series 2001-60, Class OF
4.73% (30 day USD SOFR Average + 1.064%) (2)		10/25/31		152,130		153,601
Federal National Mortgage Association REMICS Series 2007-64, Class FA
4.25% (30 day USD SOFR Average + 0.584%) (2)		07/25/37		112,303		111,870
Federal National Mortgage Association REMICS Series 2009-85, Class LF
4.98% (30 day USD SOFR Average + 1.314%) (2)		10/25/49		1,292,306		1,324,255
Federal National Mortgage Association REMICS Series 2009-96, Class FA
4.68% (30 day USD SOFR Average + 1.014%) (2)		11/25/49		817,252		829,068
Federal National Mortgage Association REMICS Series 2010-109, Class PF
(PAC) 4.18% (30 day USD SOFR Average + 0.514%) (2)		10/25/40		304,493		304,744
Federal National Mortgage Association REMICS Series 2010-26, Class S (I/O) (I/F)
2.45% (-30 day USD SOFR Average + 6.116%) (2)		11/25/36		2,055,194		173,296
Federal National Mortgage Association REMICS Series 2010-43, Class DP (PAC)
5.00%		05/25/40		252,651		258,368
Federal National Mortgage Association REMICS Series 2010-6, Class BF
4.54% (30 day USD SOFR Average + 0.874%) (2)		02/25/40		645,126		648,974
Federal National Mortgage Association REMICS Series 2010-95, Class S (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.486%) (2)		09/25/40		1,817,206		185,575
Federal National Mortgage Association REMICS Series 2019-79, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		01/25/50		2,401,884		2,371,653

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2020-10, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		03/25/50	$	4,272,071	$	4,219,241
Federal National Mortgage Association REMICS Series 2024-73, Class FB
4.86% (30 day USD SOFR Average + 1.200%) (2)		10/25/54		10,423,295		10,478,937
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52		976,304		925,251
Government National Mortgage Association, Pool #80968
5.38% (1 yr. CMT + 1.500%) (2)		07/20/34		72,862		73,938
Government National Mortgage Association, Pool #80059
5.63% (1 yr. CMT + 1.500%) (2)		04/20/27		878		877
Government National Mortgage Association, Pool #80589
5.63% (1 yr. CMT + 1.500%) (2)		03/20/32		5,869		5,878
Government National Mortgage Association, Pool #80610
5.63% (1 yr. CMT + 1.500%) (2)		06/20/32		3,003		3,038
Government National Mortgage Association, Pool #81201
6.13% (1 yr. CMT + 2.000%) (2)		01/20/35		2,900		2,947
Government National Mortgage Association, Pool #2487
8.50%		09/20/27		119		119
Government National Mortgage Association REMICS Series 2009-106, Class XI (I/O) (I/F)
3.01% (-1 mo. USD Term SOFR + 6.686%) (2)		05/20/37		1,398,913		138,261
Government National Mortgage Association REMICS Series 2013-53, Class AD
1.50%		12/20/26		2,804		2,778
Government National Mortgage Association REMICS Series 2024-143, Class FB
4.82% (30 day USD SOFR Average + 1.150%) (2)		09/20/54		11,254,140		11,344,192
Government National Mortgage Association REMICS Series 2024-144, Class FD
4.82% (30 day USD SOFR Average + 1.150%) (2)		09/20/54		5,979,093		6,026,555

See accompanying Notes to Financial Statements.

31

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2024-148, Class AF
4.85% (30 day USD SOFR Average + 1.180%) (2)		09/20/54	$	8,150,702	$	8,223,733
Government National Mortgage Association, TBA
4.00% (4)		06/01/55		20,750,000		19,424,874
Uniform Mortgage-Backed Security, TBA
3.50% (4)		04/16/41		8,850,000		8,528,364
3.50% (4)		12/01/51		6,675,000		6,119,619
4.00% (4)		04/16/41		8,900,000		8,691,740
4.00% (4)		05/01/55		4,025,000		3,797,362
4.50% (4)		04/15/40		10,225,000		10,154,632
4.50% (4)		01/01/56		8,150,000		7,862,081
5.00% (4)		04/15/40		11,175,000		11,260,656
5.00% (4)		01/01/56		23,875,000		23,541,944
5.50% (4)		12/01/55		9,050,000		9,092,897
Total Residential Mortgage-Backed Securities — Agency (Cost: $192,423,477)						190,605,680
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 6.9%
ALA Trust Series 2025-OANA, Class A
5.42% (1 mo. USD Term SOFR + 1.743%) (1),(2)		06/15/40		2,715,000		2,726,042
Bank Series 2018-BN14, Class A2
4.13%		09/15/60		3,110,694		3,091,365
Benchmark Mortgage Trust Series 2020-B17, Class A2
2.21%		03/15/53		2,200,587		2,090,653
BX Trust Series 2021-SDMF, Class C
4.68% (1 mo. USD Term SOFR + 1.002%) (1),(2)		09/15/34		2,598,333		2,596,250
BXP Trust Series 2017-GM, Class B
3.42% (1),(5)		06/13/39		2,465,000		2,416,473
COMM Mortgage Trust Series 2015-DC1, Class AM
3.72%		02/10/48		1,361,578		1,341,060
DBMS DAC Series 2025-1A, Class D
6.39% (1 day GBP SONIA + 2.650%) (1),(2)		02/18/36		GBP 1,400,000		1,849,772
FirstKey Homes Trust Series 2021-SFR1, Class F1
3.24% (1)		08/17/38		2,350,000		2,328,219
GS Mortgage Securities Corp. Trust Series 2023-FUN, Class A
5.76% (1 mo. USD Term SOFR + 2.091%) (1),(2)		03/15/28		1,755,000		1,763,040
GWT Trust Series 2024-WLF2, Class A
5.36% (1 mo. USD Term SOFR + 1.691%) (1),(2)		05/15/41		2,767,000		2,770,334

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Highways PLC Series 2021-1X, Class C
6.15% (1 day GBP SONIA + 2.400%) (2),(6)		12/18/31		GBP  1,400,000	$	1,856,654
HILT Commercial Mortgage Trust Series 2024-ORL, Class A
5.21% (1 mo. USD Term SOFR + 1.541%) (1),(2)		05/15/37		2,480,000		2,481,222
HTL Commercial Mortgage Trust Series 2024-T53, Class A
5.88% (1),(5)		05/10/39		2,668,000		2,689,657
JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-NINE, Class A
2.85% (1),(5)		09/06/38		4,000,000		3,972,682
Last Mile Logistics Pan Euro Finance DAC Series 1X, Class B
3.05% (3 mo. EUR EURIBOR + 1.050%) (2),(6)		08/17/33		EUR 1,844,160		2,124,977
Last Mile Logistics Pan Euro Finance DAC Series 1X, Class C
3.40% (3 mo. EUR EURIBOR + 1.400%) (2),(6)		08/17/33		EUR 817,254		941,858
Last Mile Logistics Pan Euro Finance DAC Series 1X, Class D
3.90% (3 mo. EUR EURIBOR + 1.900%) (2),(6)		08/17/33		EUR 970,610		1,118,647
One New York Plaza Trust Series 2020-1NYP, Class A
4.74% (1 mo. USD Term SOFR + 1.064%) (1),(2)		01/15/36		1,887,817		1,823,513
ReadyCap Commercial Mortgage Trust Series 2019-6, Class A
2.83% (1)		10/25/52		258,023		257,499
Shops at Crystals Trust Series 2016-CSTL, Class B
3.53% (1)		07/05/36		2,050,000		2,044,170
SMRT Commercial Mortgage Trust Series 2022-MINI, Class A
4.67% (1 mo. USD Term SOFR + 1.000%) (1),(2)		01/15/39		2,885,000		2,883,798
SMRT Commercial Mortgage Trust Series 2022-MINI, Class B
5.02% (1 mo. USD Term SOFR + 1.350%) (1),(2)		01/15/39		1,520,000		1,518,541
SREIT Trust Series 2021-MFP2, Class A
4.61% (1 mo. USD Term SOFR + 0.936%) (1),(2)		11/15/36		3,640,000		3,638,303

See accompanying Notes to Financial Statements.

32

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
SREIT Trust Series 2021-MFP2, Class B
4.96% (1 mo. USD Term SOFR + 1.286%) (1),(2)		11/15/36	$	2,150,000	$	2,149,112
SREIT Trust Series 2021-PALM, Class E
5.70% (1 mo. USD Term SOFR + 2.024%) (1),(2)		10/15/34		2,500,000		2,500,316
Tricon American Homes Trust Series 2020-SFR1, Class F
4.88% (1)		07/17/38		3,282,000		3,270,027
Tricon Residential Trust Series 2021-SFR1, Class F
3.69% (1)		07/17/38		1,720,000		1,708,190
Wells Fargo Commercial Mortgage Trust Series 2021-FCMT, Class A
4.99% (1 mo. USD Term SOFR + 1.314%) (1),(2)		05/15/31		3,760,000		3,758,556
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $63,404,507)						63,710,930
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 0.6%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KJ37, Class A1
1.68%		12/25/27		4,508,507		4,360,603
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series Q004, Class AFL
4.60% (1 yr. MTA + 0.740%) (2)		05/25/44		587,360		587,121
Federal National Mortgage Association-ACES Series 2021-M1, Class A1
0.87%		11/25/30		311,195		306,716
Government National Mortgage Association Series 2008-92, Class E
5.56% (5)		03/16/44		109,055		108,822
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $5,509,808)					5,363,262
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 10.0%
ACE Securities Corp. Home Equity Loan Trust Series 2006-OP1, Class A2D
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		04/25/36		5,071,121		4,737,504
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-R9, Class M1
4.50% (1 mo. USD Term SOFR + 0.819%) (2)		11/25/35		1,707,432		1,698,836

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-W2, Class M1
4.53% (1 mo. USD Term SOFR + 0.849%) (2)		10/25/35	$	158,906	$	158,682
Asset-Backed Securities Corp. Home Equity Loan Trust Series 2006-HE3, Class A5
2.88% (1 mo. USD Term SOFR + 0.654%) (2)		03/25/36		814,333		806,185
Banc of America Alternative Loan Trust Series 2003-8, Class 1CB
5.50%		10/25/33		1,872,293		1,885,806
Bear Stearns ARM Trust Series 2004-3, Class 4A
5.36% (5)		07/25/34		148,698		145,071
BNC Mortgage Loan Trust Series 2007-1, Class A4
3.95% (1 mo. USD Term SOFR + 0.274%) (2)		03/25/37		2,248,124		2,204,001
C-BASS Trust Series 2007-CB5, Class A1
3.21% (1 mo. USD Term SOFR + 0.234%) (2)		04/25/37		1,669,163		998,458
Centex Home Equity Loan Trust Series 2005-D, Class M6
4.84% (1 mo. USD Term SOFR + 1.164%) (2)		10/25/35		2,353,647		2,348,869
Chase Funding Trust Series 2002-2, Class 2A1
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		05/25/32		492,473		490,881
Chase Home Lending Mortgage Trust Series 2024-9, Class A4
5.50% (1),(5)		09/25/55		1,192,861		1,194,481
Chase Mortgage Finance Trust Series 2007-A1, Class 8A1
6.06% (5)		02/25/37		1,676,001		1,655,468
Chase Mortgage Finance Trust Series 2007-A2, Class 2A3
6.15% (5)		06/25/35		266,295		268,766
Chevy Chase Funding LLC Mortgage-Backed Certificates Series 2005-2A, Class A1
3.97% (1 mo. USD Term SOFR + 0.294%) (1),(2)		05/25/36		218,420		212,589
CHL Mortgage Pass-Through Trust Series 2004-14, Class 4A1
5.43% (5)		08/25/34		4,952		4,706
CIM Trust Series 2021-R3, Class A1A
1.95% (1),(5)		06/25/57		3,899,484		3,628,568
Citigroup Mortgage Loan Trust, Inc. Series 2006-AMC1, Class A1
4.08% (1 mo. USD Term SOFR + 0.404%) (1),(2)		09/25/36		3,492,890		3,430,471

See accompanying Notes to Financial Statements.

33

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Countrywide Asset-Backed Certificates Trust Series 2006-14, Class 2A3
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		02/25/37	$	806,627	$	794,308
Countrywide Asset-Backed Certificates Trust Series 2006-4, Class M1
4.32% (1 mo. USD Term SOFR + 0.639%) (2)		07/25/36		1,020,743		1,017,845
Countrywide Asset-Backed Certificates Trust Series 2007-7, Class 1A
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		10/25/47		4,952,942		4,716,003
Credit Suisse First Boston Mortgage Securities Corp. Series 98-1, Class A4
6.49%		09/25/28		40,111		40,035
Cross Mortgage Trust Series 2024-H6, Class A1
5.13% (1),(5)		09/25/69		812,276		812,960
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA6, Class M1A
5.81% (30 day USD SOFR Average + 2.150%) (1),(2)		09/25/42		307,409		308,064
First Franklin Mortgage Loan Trust Series 2004-FF5, Class A3C
4.79% (1 mo. USD Term SOFR + 1.114%) (2)		08/25/34		272,546		257,463
First Horizon Alternative Mortgage Securities Trust Series 2004-AA3, Class A1
4.78% (5)		09/25/34		614		617
Fremont Home Loan Trust Series 2005-E, Class 2A4
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		01/25/36		2,902,613		2,834,158
GMACM Home Equity Loan Trust Series 2000-HE2, Class A1
2.73% (1 mo. USD Term SOFR + 0.554%) (2)		06/25/30		44,098		39,807
GSAMP Trust Series 2005-HE4, Class M3
4.57% (1 mo. USD Term SOFR + 0.894%) (2)		07/25/45		78,465		81,795
GSR Mortgage Loan Trust Series 2005-AR7, Class 2A1
4.74% (5)		11/25/35		52,987		51,586
Impac CMB Trust Series 2005-5, Class A1
4.43% (1 mo. USD Term SOFR + 0.434%) (2)		08/25/35		623,855		597,000

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
IndyMac INDX Mortgage Loan Trust Series 2004-AR8, Class 2A2A
4.59% (1 mo. USD Term SOFR + 0.914%) (2)		11/25/34	$	355,104	$	333,937
JPMorgan Mortgage Acquisition Corp. Series 2005-FRE1, Class M1
2.94% (1 mo. USD Term SOFR + 0.729%) (2)		10/25/35		508,082		505,516
JPMorgan Mortgage Acquisition Corp. Series 2006-NC1, Class M1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		04/25/36		2,843,273		2,982,956
JPMorgan Mortgage Acquisition Corp. Series 2007-CH4, Class M1
4.02% (1 mo. USD Term SOFR + 0.344%) (2)		05/25/37		6,621,976		6,539,936
JPMorgan Mortgage Trust Series 2007-A1, Class 1A1
6.22% (5)		07/25/35		61,620		61,871
JPMorgan Mortgage Trust Series 2007-A1, Class 5A2
5.82% (5)		07/25/35		36,847		36,843
JPMorgan Mortgage Trust Series 2024-4, Class A4A
6.00% (1),(5)		10/25/54		1,501,350		1,506,985
Lehman ABS Manufactured Housing Contract Trust Series 2001-B, Class AC (I/O)
0.55% (5)		04/15/40		24,743,289		207,924
MASTR Adjustable Rate Mortgages Trust Series 2003-6, Class 4A2
4.35% (5)		01/25/34		1,693		1,662
MASTR Adjustable Rate Mortgages Trust Series 2004-13, Class 3A1
5.60% (5)		11/21/34		186,638		186,173
MASTR Adjustable Rate Mortgages Trust Series 2004-3, Class 3A3
5.20% (5)		04/25/34		27,496		27,022
MASTR Alternative Loan Trust Series 2003-1, Class 1A1
6.25%		12/25/32		347,007		355,337
MASTR Alternative Loan Trust Series 2003-5, Class 4A1
5.50%		07/25/33		1,000,319		993,069
MASTR Alternative Loan Trust Series 2003-9, Class 4A1
5.25%		11/25/33		994,286		998,395
MASTR Alternative Loan Trust Series 2004-7, Class 1A1
5.50%		07/25/34		829,699		838,840

See accompanying Notes to Financial Statements.

34

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
MASTR Asset-Backed Securities Trust Series 2006-HE1, Class M1
4.35% (1 mo. USD Term SOFR + 0.669%) (2)		01/25/36	$	2,740,607	$	2,711,496
MASTR Seasoned Securitization Trust Series 2004-1, Class 4A1
6.53% (5)		10/25/32		61,116		60,376
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-3, Class A2C
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		06/25/37		2,539,708		2,548,644
Merrill Lynch Mortgage Investors Trust Series 2004-A4, Class A1
5.09% (5)		08/25/34		245,268		234,663
Mid-State Capital Corp. Trust Series 2006-1, Class A
5.79% (1)		10/15/40		1,351,207		1,358,530
Mid-State Trust Series 10W, Class A2
5.82%		02/15/36		77,727		77,609
Morgan Stanley ABS Capital I, Inc. Trust Series 2004-NC7, Class M2
4.72% (1 mo. USD Term SOFR + 1.044%) (2)		07/25/34		559,272		599,588
Morgan Stanley Residential Mortgage Loan Trust Series 2025-1, Class A4
5.50% (1),(5)		03/25/55		1,580,200		1,582,982
MortgageIT Trust Series 2005-3, Class A1
4.39% (1 mo. USD Term SOFR + 0.714%) (2)		08/25/35		45,927		46,200
MortgageIT Trust Series 2005-4, Class A1
4.35% (1 mo. USD Term SOFR + 0.674%) (2)		10/25/35		935,478		940,238
New Century Home Equity Loan Trust Series 2005-D, Class M1
4.47% (1 mo. USD Term SOFR + 0.789%) (2)		02/25/36		2,620,793		2,567,402
NLT Trust Series 2021-INV2, Class A1
1.16% (1),(5)		08/25/56		4,389,459		3,858,947
Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates Series 2005-5, Class 1AP
4.35% (1 mo. USD Term SOFR + 0.674%) (2)		12/25/35		1,823,286		1,814,727
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-WCW3, Class M2
4.53% (1 mo. USD Term SOFR + 0.849%) (2)		08/25/35		881,456		893,062

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
PHH Alternative Mortgage Trust Series 2007-3, Class A3
4.39% (1 mo. USD Term SOFR + 0.714%) (2)		07/25/37	$	2,761,236	$	2,709,258
PMT Loan Trust Series 2026-CNF3, Class A23
5.12% (30 day USD SOFR Average + 1.450%) (1),(2)		04/25/57		2,260,000		2,265,549
PMT Loan Trust Series 2026-INV3, Class A36
5.02% (30 day USD SOFR Average + 1.350%) (1),(2)		02/25/57		2,200,000		2,205,440
RALI Trust Series 2005-QA3, Class NB1
3.67% (5)		03/25/35		787,435		439,408
Saxon Asset Securities Trust Series 2006-2, Class M1
4.23% (1 mo. USD Term SOFR + 0.549%) (2)		09/25/36		7,017,823		6,782,412
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2
2.80%		01/25/36		1,226,385		1,052,250
Soundview Home Loan Trust Series 2006-OPT4, Class 2A4
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		06/25/36		1,858,655		1,816,545
Specialty Underwriting & Residential Finance Trust Series 2005-BC2, Class M3
4.77% (1 mo. USD Term SOFR + 1.089%) (2)		12/25/35		289,521		289,097
Structured Asset Securities Corp. Mortgage Pass-Through Certificates Series 2003-26A, Class 3A5
5.09% (5)		09/25/33		109,450		106,424
Terwin Mortgage Trust Series 2004-7HE, Class A1
4.89% (1 mo. USD Term SOFR + 1.214%) (1),(2)		07/25/34		48,364		47,636
Towd Point Mortgage Trust Series 2020-MH1, Class A1
2.25% (1),(5)		02/25/60		429,009		422,946
WaMu Mortgage Pass-Through Certificates Trust Series 2004-AR14, Class A1
4.92% (5)		01/25/35		193,264		189,186
WaMu Mortgage Pass-Through Certificates Trust Series 2004-CB2, Class 2A
5.50%		07/25/34		262,047		264,020
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR13, Class A1A1
4.37% (1 mo. USD Term SOFR + 0.694%) (2)		10/25/45		540,715		526,985

See accompanying Notes to Financial Statements.

35

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR2, Class 2A2
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		01/25/45	$	63,005	$	63,391
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $93,973,275)						91,472,460
CORPORATE BONDS—28.8%
Aerospace & Defense — 0.5%
General Electric Co.
4.30% (3 mo. USD Term SOFR + 0.642%) (2)		05/05/26		2,235,000		2,236,364
4.39% (3 mo. USD Term SOFR + 0.742%) (2)		08/15/36		2,182,000		2,053,829
						4,290,193
Agriculture — 0.3%
British American Tobacco PLC (United Kingdom) (I/F)
3.75% (-5 yr. EUR Swap + 3.952%) (2),(6),(7)		12/31/99	EUR	1,200,000		1,350,977
Imperial Brands Finance PLC (United Kingdom)
3.50% (1)		07/26/26		1,301,000		1,297,800
						2,648,777
Airlines — 0.1%
Delta Air Lines Pass-Through Trust Series 2020-1, Class AA
2.00%		12/10/29		1,053,679		1,019,919
Auto Manufacturers — 0.2%
Volkswagen Financial Services Australia Pty. Ltd. (Germany)
5.20% (6)		10/16/30	AUD	650,000		431,104
5.65%		09/15/28	AUD	910,000		619,912
Volkswagen Group of America Finance LLC (Germany)
4.75% (1)		11/13/28		1,130,000		1,128,949
						2,179,965
Banks — 11.8%
Bank of America Corp.
1.73% (1 day USD SOFR + 0.960%) (2)		07/22/27		5,850,000		5,801,445
2.55% (1 day USD SOFR + 1.050%) (2)		02/04/28		4,275,000		4,209,764
3.71% (3 mo. USD Term SOFR + 1.774%) (2)		04/24/28		944,000		936,807

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
Bank of New York Mellon
4.73% (1 day USD SOFR + 1.135%) (2)		04/20/29	$	3,235,000	$	3,258,907
Citigroup, Inc.
1.46% (1 day USD SOFR + 0.770%) (2)		06/09/27		5,000,000		4,971,150
3.07% (1 day USD SOFR + 1.280%) (2)		02/24/28		1,040,000		1,027,562
3.52% (3 mo. USD Term SOFR + 1.413%) (2)		10/27/28		4,987,000		4,913,641
Goldman Sachs Group, Inc.
1.54% (1 day USD SOFR + 0.818%) (2)		09/10/27		1,825,000		1,801,439
1.95% (1 day USD SOFR + 0.913%) (2)		10/21/27		10,000,000		9,863,200
HSBC Holdings PLC (United Kingdom)
2.01% (1 day USD SOFR + 1.732%) (2)		09/22/28		11,500,000		11,092,670
JPMorgan Chase & Co.
1.47% (1 day USD SOFR + 0.765%) (2)		09/22/27		3,725,000		3,674,079
2.18% (1 day USD SOFR + 1.890%) (2)		06/01/28		879,000		856,840
3.78% (3 mo. USD Term SOFR + 1.599%) (2)		02/01/28		13,750,000		13,679,462
Lloyds Banking Group PLC (United Kingdom)
1.63% (1 yr. CMT + 0.850%) (2)		05/11/27		590,000		587,970
Morgan Stanley
1.59% (1 day USD SOFR + 0.879%) (2)		05/04/27		5,855,000		5,838,957
Morgan Stanley Bank NA
4.97% (1 day USD SOFR + 0.930%) (2)		07/14/28		3,155,000		3,175,129
Morgan Stanley Private Bank NA
4.20% (1 day USD SOFR + 0.780%) (2)		11/17/28		5,165,000		5,148,162
PNC Financial Services Group, Inc.
5.58% (1 day USD SOFR + 1.841%) (2)		06/12/29		830,000		850,792
6.62% (1 day USD SOFR Index + 1.730%) (2)		10/20/27		4,570,000		4,623,332

See accompanying Notes to Financial Statements.

36

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
Santander U.K. Group Holdings PLC (United Kingdom)
1.67% (1 day USD SOFR + 0.989%) (2)		06/14/27	$	3,007,000	$	2,988,327
U.S. Bancorp
4.65% (1 day USD SOFR + 1.230%) (2)		02/01/29		5,365,000		5,387,694
Wells Fargo & Co.
2.39% (1 day USD SOFR + 2.100%) (2)		06/02/28		2,165,000		2,113,408
5.57% (1 day USD SOFR + 1.740%) (2)		07/25/29		11,735,000		12,003,614
						108,804,351
Beverages — 0.2%
Constellation Brands, Inc.
2.25%		08/01/31		1,650,000		1,456,835
Maple Parent Holdings Corp.
3.88% (1)		03/26/30		EUR  750,000		859,924
						2,316,759
Biotechnology — 0.2%
Illumina, Inc.
5.75%		12/13/27		2,275,000		2,320,477
Chemicals — 0.4%
International Flavors & Fragrances, Inc.
1.83% (1)		10/15/27		3,440,000		3,300,818
Commercial Services — 1.0%
AA Bond Co. Ltd. (United Kingdom)
7.38% (6)		07/31/50		GBP  627,000		860,369
Global Payments, Inc.
2.15%		01/15/27		7,201,000		7,072,462
Grand Canyon University
5.13%		10/01/28		150,000		149,179
RAC Bond Co. PLC (United Kingdom)
8.25% (6)		05/06/46		GBP 400,000		558,290
VT Topco, Inc.
8.50% (1)		08/15/30		280,000		285,015
						8,925,315
Diversified Financial Services — 1.1%
Air Lease Corp.
3.63%		04/01/27		4,835,000		4,792,549
American Express Co.
4.73% (1 day USD SOFR + 1.260%) (2)		04/25/29		2,890,000		2,909,883
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27		1,118,000		1,081,128
2.75% (1)		02/21/28		1,350,000		1,304,478
						10,088,038

Issues	Maturity Date		Principal Amount		Value
Electric — 1.9%
Alliant Energy Finance LLC
5.95% (1)		03/30/29	$	805,000	$	835,180
Dominion Energy, Inc.
6.00% (5 yr. CMT + 2.262%) (2)		02/15/56		1,500,000		1,490,445
Duke Energy Corp.
4.30%		03/15/28		1,835,000		1,832,963
Enel SpA (Italy)
6.38% (5 yr. EURIBOR ICE Swap + 3.486%) (2),(6),(7)		12/31/99		EUR   865,000		1,036,031
ITC Holdings Corp.
4.95% (1)		09/22/27		4,960,000		4,986,586
Niagara Mohawk Power Corp.
4.65% (1)		10/03/30		4,400,000		4,388,120
NSW Electricity Networks Finance Pty. Ltd. (Australia)
5.77% (6)		05/29/30		AUD 630,000		432,026
Southern Co.
3.75% (5 yr. CMT + 2.915%) (2)		09/15/51		2,194,000		2,175,570
						17,176,921
Electronics — 0.2%
Amphenol Technologies Holding GmbH
3.63%		03/30/31		EUR 1,560,000		1,805,179
Entertainment — 0.0%
Great Canadian Gaming Corp./Raptor LLC (Canada)
8.75% (1)		11/15/29		99,000		96,623
Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)
8.00% (1)		08/01/30		51,000		48,941
Voyager Parent LLC
9.25% (1)		07/01/32		157,000		163,767
						309,331
Environmental Control — 0.0%
Seche Environnement SACA (France)
4.50% (6)		03/25/30		EUR    160,000		182,586
Food — 0.2%
JBS NV/JBS USA Foods Group Holdings, Inc./ JBS USA Food Co. Holdings
3.00%		02/02/29		1,795,000		1,723,200
Gas — 0.1%
AmeriGas Partners LP/AmeriGas Finance Corp.
9.50% (1)		06/01/30		79,000		83,812
Nortegas Energia Grupo SL (Spain)
0.91% (6)		01/22/31		EUR    400,000		394,108
Redexis SA
4.38% (6)		05/30/31		EUR    400,000		463,147
						941,067

See accompanying Notes to Financial Statements.

37

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Health Care-Products — 0.3%
Medline Borrower LP
3.88% (1)		04/01/29	$	2,000,000	$	1,936,540
Sartorius Finance BV (Germany)
4.38% (6)		09/14/29		EUR 1,100,000		1,295,265
						3,231,805
Health Care-Services — 0.7%
Cigna Group
4.50%		09/15/30		2,425,000		2,418,671
Elevance Health, Inc.
2.55%		03/15/31		2,290,000		2,066,908
Humana, Inc.
4.88%		04/01/30		1,420,000		1,416,620
Kedrion SpA (Italy)
6.50% (1)		09/01/29		370,000		357,083
ModivCare, Inc.
1.00% (1),(8),(9),(10)		10/01/29		909,300		13,640
Molina Healthcare, Inc.
6.25% (1)		01/15/33		109,000		105,757
6.50% (1)		02/15/31		136,000		134,189
Star Parent, Inc.
9.00% (1)		10/01/30		176,000		183,205
						6,696,073
Housewares — 0.0%
Newell Brands, Inc.
7.38%		04/01/36		100,000		92,400
Insurance — 0.8%
Farmers Exchange Capital
7.05% (1)		07/15/28		1,625,000		1,688,489
Guardian Life Global Funding
4.80% (1)		04/28/30		1,685,000		1,696,795
MMI Capital Trust I
7.63%		12/15/27		2,000,000		2,086,440
Willis North America, Inc.
2.95%		09/15/29		35,000		33,151
4.65%		06/15/27		2,202,000		2,206,294
						7,711,169
Internet — 0.4%
Amazon.com, Inc.
4.25%		03/13/31		3,300,000		3,275,877
Getty Images, Inc.
10.50% (1)		11/15/30		180,000		162,751
						3,438,628
Lodging — 0.2%
Hyatt Hotels Corp.
5.05%		03/30/28		410,000		414,330
Las Vegas Sands Corp.
5.63%		06/15/28		1,860,000		1,885,575
						2,299,905

Issues	Maturity Date		Principal Amount		Value
Media — 0.2%
CSC Holdings LLC
6.50% (1)		02/01/29	$	27,000	$	17,257
11.75% (1)		01/31/29		1,954,000		1,416,142
						1,433,399
Oil & Gas — 0.1%
Sunoco LP
5.63% (1)		07/15/34		110,000		108,348
7.88% (5 yr. CMT + 4.230%) (1),(2),(7)		09/18/30		525,000		535,720
						644,068
Packaging & Containers — 0.1%
Ardagh Group SA
9.50% (1)		12/01/30		35,000		36,610
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		130,000		109,366
Berry Global, Inc.
4.88% (1)		07/15/26		636,000		636,185
						782,161
Pharmaceuticals — 1.0%
1261229 BC Ltd.
10.00% (1)		04/15/32		340,000		346,613
Bayer U.S. Finance LLC (Germany)
6.25% (1)		01/21/29		6,230,000		6,475,213
Grifols SA (Spain)
7.50% (6)		05/01/30	EUR	570,000		680,233
Teva Pharmaceutical Finance Netherlands II BV (Israel)
4.38%		05/09/30	EUR	1,500,000		1,733,726
Teva Pharmaceutical Finance Netherlands IV BV (Israel)
5.75%		12/01/30		180,000		182,819
						9,418,604
Pipelines — 0.1%
Venture Global Plaquemines LNG LLC
6.50% (1)		06/15/34		56,000		58,353
6.75% (1)		01/15/36		221,000		234,103
7.50% (1)		05/01/33		195,000		214,570
						507,026
Real Estate — 0.2%
Blackstone Property Partners Europe Holdings SARL (Luxembourg)
1.00% (6)		05/04/28	EUR	935,000		1,016,902
DVI Deutsche Vermoegens- & Immobilienverwaltungs GmbH
4.88% (6)		08/21/30	EUR	400,000		459,189
						1,476,091
REIT — 4.2%
American Tower Corp. (REIT)
5.25%		07/15/28		7,290,000		7,417,502
Crown Castle, Inc.
3.80%		02/15/28		3,940,000		3,886,298
Digital Dutch Finco BV (REIT)
1.50% (6)		03/15/30	EUR	500,000		527,972

See accompanying Notes to Financial Statements.

38

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
DOC Dr. LLC (REIT)
4.30%		03/15/27	$	3,995,000	$	3,992,163
Extra Space Storage LP
3.88%		12/15/27		6,745,000		6,683,620
Federal Realty OP LP (REIT)
7.48%		08/15/26		1,850,000		1,866,243
GLP Capital LP/GLP Financing II, Inc.
4.00%		01/15/30		1,245,000		1,196,993
5.30%		01/15/29		2,179,000		2,200,311
Healthcare Realty Holdings LP
3.50%		08/01/26		1,451,000		1,446,154
3.63%		01/15/28		3,255,000		3,189,835
Hudson Pacific Properties LP
3.25%		01/15/30		144,000		116,948
3.95%		11/01/27		335,000		317,429
4.65%		04/01/29		196,000		168,386
LXP Industrial Trust
6.75%		11/15/28		821,000		861,549
VICI Properties LP/VICI Notes Co., Inc.
5.75% (1)		02/01/27		2,590,000		2,605,359
WP Carey, Inc.
4.65%		07/15/30		2,220,000		2,207,013
						38,683,775
Retail — 0.2%
Ferrellgas LP/Ferrellgas Finance Corp.
9.25% (1)		01/15/31		882,000		920,773
Michaels Cos., Inc.
8.50% (1)		03/15/33		321,000		312,998
Papa John’s International, Inc.
3.88% (1)		09/15/29		230,000		219,597
Suburban Propane Partners LP/Suburban Energy Finance Corp.
6.50% (1)		12/15/35		280,000		272,812
						1,726,180
Semiconductors — 0.4%
Foundry JV Holdco LLC
5.50% (1)		01/25/31		1,900,000		1,942,655
Intel Corp.
5.13%		02/10/30		1,415,000		1,434,230
						3,376,885
Software — 0.6%
Cloud Software Group, Inc.
8.25% (1)		06/30/32		294,000		279,603
Fiserv, Inc.
4.55%		02/15/31		995,000		974,861
Open Text Corp. (Canada)
6.90% (1)		12/01/27		2,635,000		2,708,622
Salesforce, Inc.
4.65%		03/15/29		1,100,000		1,102,233
UKG, Inc.
6.88% (1)		02/01/31		165,000		161,881
						5,227,200

Issues	Maturity Date		Principal Amount		Value
Telecommunications — 0.3%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27	$	335,000	$	247,860
Altice France SA
6.50% (1)		04/15/32		24,933		23,595
9.50% (1)		11/01/29		18,596		18,833
Global Switch Finance BV (United Kingdom)
1.38% (6)		10/07/30		EUR   485,000		516,051
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
5.15% (1)		03/20/28		414,000		416,132
T-Mobile USA, Inc.
3.50%		04/15/31		755,000		714,917
TDC Net AS (Denmark)
5.62% (6)		02/06/30		EUR   600,000		727,248
Vmed O2 U.K. Financing I PLC
7.75% (1)		04/15/32		156,000		149,788
Zayo Group Holdings, Inc. (5.75% Cash or 0.50% PIK) due 3/29/27
9.25% (1)		03/09/30		93,280		92,751
						2,907,175
Transportation — 0.3%
Aurizon Network Pty. Ltd. (Australia)
6.10% (6)		09/12/31		AUD 1,520,000		1,040,351
Pacific National Finance Pty. Ltd. (Australia)
3.70%		09/24/29		AUD 1,210,000		755,295
5.40%		05/12/27		AUD 890,000		604,837
						2,400,483
Trucking & Leasing — 0.2%
SMBC Aviation Capital Finance DAC (Ireland)
5.10% (1)		04/01/30		1,595,000		1,610,615
Water — 0.3%
Suez SACA (France)
2.38% (6)		05/24/30		EUR   800,000		878,262
Yorkshire Water Finance PLC (United Kingdom)
6.45%		05/28/27		GBP  1,633,000		2,170,362
						3,048,624
Total Corporate Bonds
(Cost: $262,673,979)						264,745,162
FOREIGN GOVERNMENT BONDS — 1.6%
Oman Government International Bonds
6.25% (1)		01/25/31		2,952,000		3,083,630
Qatar Government International Bonds
3.75% (1)		04/16/30		2,608,000		2,529,056
Saudi Government International Bonds
4.13% (1)		01/12/29		2,692,000		2,652,077
U.K. Gilts
4.38% (6)		03/07/28		GBP  4,575,000		6,034,980
Total Foreign Government Bonds     (Cost: $14,488,506)					14,299,743

See accompanying Notes to Financial Statements.

39

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
U.S. TREASURY SECURITIES — 21.5%
U.S. Treasury Notes
3.38%		02/29/28	$	2,695,000	$	2,674,156
3.50%		03/15/29		12,310,000		12,202,768
3.50%		02/28/31		193,000		189,268
3.88%		03/31/28		178,743,000		179,025,777
3.88%		03/31/31		3,458,000		3,447,194
Total U.S. Treasury Securities
(Cost: $197,296,800)						197,539,163
BANK LOANS — 1.3%
Advertising — 0.0%
Advantage Sales & Marketing, Inc. 2026 First Out Term Loan
9.78% (1 mo. USD Term SOFR + 6.000%) (2)		04/19/30		64,574		49,036
Research Now Group, Inc. 2024 First Lien First Out Term Loan
8.91% (3 mo. USD Term SOFR + 5.000%) (2)		07/15/28		16,219		15,996
						65,032
Aerospace & Defense — 0.0%
HDI Aerospace Intermediate Holding III Corp. Term Loan B
7.40% (3 mo. USD Term SOFR + 3.750%) (2)		02/11/32		61,380		61,649
TransDigm, Inc. 2023 Term Loan J
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		02/28/31		79,062		79,161
TransDigm, Inc. 2025 Term Loan M
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		08/19/32		89,483		89,582
						230,392
Airlines — 0.0%
SkyMiles IP Ltd. 2025 Repriced Term Loan B
5.17% (3 mo. USD Term SOFR + 1.500%) (2)		10/20/28		92,862		93,453
Apparel — 0.0%
ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		12/21/28		64,171		64,112
Beverages — 0.1%
Celsius Holdings, Inc. 2025 Term Loan B
6.20% (3 mo. USD Term SOFR + 2.500%) (2)		04/01/32		36,834		36,972

Issues	Maturity Date		Principal Amount		Value
Beverages (Continued)
Naked Juice LLC 2025 FLFO Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (2)		01/24/29	$	452,824	$	451,590
Naked Juice LLC 2025 FLSO Term Loan
7.05% (3 mo. USD Term SOFR + 3.250%) (2)		01/24/29		177,694		95,362
Naked Juice LLC 2025 FLTO Term Loan
9.80% (3 mo. USD Term SOFR + 6.000%) (2)		01/24/30		44,249		9,784
Primo Brands Corp. 2026 Term Loan B
0.00% (11)		03/19/31		27,535		27,612
						621,320
Chemicals — 0.0%
Mativ Holdings, Inc. Delayed Draw Term Loan A
6.27% (1 mo. USD Term SOFR + 2.500%) (2)		05/06/27		38,482		38,290
Commercial Services — 0.0%
Amspec Parent LLC 2025 Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		12/22/31		66,634		66,620
CCRR Parent, Inc. Term Loan B
8.18% (3 mo. USD Term SOFR + 4.250%) (2)		03/06/28		20,913		5,998
CCRR Parent, Inc. US Acquisition Facility
8.02% (3 mo. USD Term SOFR + 4.250%) (2)		03/06/28		58,714		14,825
Kelso Industries LLC Term Loan
9.42% (1 mo. USD Term SOFR + 5.750%) (2)		12/30/29		114,103		113,818
KUEHG Corp. 2025 Term Loan
6.45% (3 mo. USD Term SOFR + 2.750%) (2)		06/12/30		28,718		25,846
Priority Holdings LLC 2025 Term Loan B
7.42% (1 mo. USD Term SOFR + 3.750%) (2)		08/02/32		84,700		82,821
Secretariat Advisors LLC 2025 Delayed Draw Term Loan
0.00% (11)		02/28/32		3,649		3,594
Secretariat Advisors LLC 2025 Term Loan B
0.00% (11)		02/28/32		30,056		29,606
TTF Holdings LLC 2024 Term Loan
7.38% (6 mo. USD Term SOFR + 3.750%) (2)		07/18/31		103,487		77,615
						420,743

See accompanying Notes to Financial Statements.

40

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Computers — 0.0%
McAfee LLC 2024 USD 1st Lien Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		03/01/29	$	46,337	$	41,530
Peraton Corp. Term Loan B
7.52% (3 mo. USD Term SOFR + 3.750% (2)		02/01/28		63,090		53,994
Surf Holdings LLC 2025 Incremental Term Loan
7.28% (1 mo. USD Term SOFR + 3.500%) (2)		03/05/27		24,781		23,662
						119,186
Cosmetics/Personal Care — 0.0%
Opal Bidco SAS USD Term Loan B4
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		04/28/32		43,574		43,602
Distribution & Wholesale — 0.0%
BCPE Empire Holdings, Inc. 2026 10th Amendment Term Loan
7.17% (1 mo. USD Term SOFR + 3.500%) (2)		12/29/32		171,081		168,729
Diversified Financial Services — 0.1%
Avolon TLB Borrower 1 U.S. LLC 2023 Term Loan B6
5.43% (1 mo. USD Term SOFR + 1.750%) (2)		06/24/30		528,111		529,762
Blackhawk Network Holdings, Inc. 2026 Term Loan B
7.17% (1 mo. USD Term SOFR + 3.500%) (2)		03/12/29		61,934		61,229
Jane Street Group LLC 2024 Term Loan B1
5.67% (3 mo. USD Term SOFR + 2.000%) (2)		12/15/31		80,245		78,877
						669,868
Electric — 0.0%
Alpha Generation LLC Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		09/30/31		111,774		111,628
Cornerstone Generation LLC Term Loan B
5.92% (3 mo. USD Term SOFR + 2.250%) (2)		08/11/32		25,244		25,298
Potomac Energy Center LLC 2026 Term Loan B
6.42% (3 mo. USD Term SOFR + 2.750%) (2)		08/05/32		28,102		28,172

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
South Field LLC 2025 1st Lien Term Loan B
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		08/29/31	$	29,150	$	29,296
South Field LLC 2025 1st Lien Term Loan C
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		08/29/31		1,823		1,832
Vistra Operations Co. LLC 1st Lien Term Loan B3
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		12/20/30		217,749		218,316
						414,542
Electrical Components & Equipment — 0.0%
Pelican Products, Inc. 2021 Term Loan
8.21% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/28		109,782		97,981
Electronics — 0.0%
LSF12 Crown U.S. Commercial Bidco LLC 2026 Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		12/02/31		25,631		25,689
TCP Sunbelt Acquisition Co. 2024 Term Loan B
7.92% (3 mo. USD Term SOFR + 4.250%) (2)		10/24/31		113,563		113,775
						139,464
Entertainment — 0.1%
City Football Group Ltd. 2024 Term Loan
7.46% (3 mo. USD Term SOFR + 3.500%) (2)		07/22/30		87,328		87,246
DK Crown Holdings, Inc. 2025 Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		03/04/32		37,293		37,299
EOC Borrower LLC Term Loan A
7.42% (1 mo. USD Term SOFR + 3.750%) (2)		03/24/28		27,093		27,127
Flutter Financing BV 2024 Term Loan B
5.45% (3 mo. USD Term SOFR + 1.750%) (2)		11/30/30		134,657		133,513
Great Canadian Gaming Corp. 2024 Term Loan B
8.44% (3 mo. USD Term SOFR + 4.750%) (2)		11/01/29		80,696		79,654
GVC Holdings Gibraltar Ltd. 2025 Term Loan B6 (2029)
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		10/31/29		37,240		37,272

See accompanying Notes to Financial Statements.

41

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Entertainment (Continued)
Showtime Acquisition LLC 2024 1st Lien Term Loan
8.40% (3 mo. USD Term SOFR + 4.750%) (2)		08/16/31	$	62,594	$	61,968
TKO Worldwide Holdings LLC 2025 Term Loan
5.66% (3 mo. USD Term SOFR + 2.000%) (2)		11/21/31		60,507		60,545
Voyager Parent LLC Repriced Term Loan B
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		07/01/32		99,859		99,308
						623,932
Environmental Control — 0.0%
Action Environmental Group, Inc. 2023 Term Loan B
6.69% (3 mo. USD Term SOFR + 3.000%) (2)		10/24/30		35,814		35,754
Heritage Environmental Services, Inc. 2026 Term Loan B
0.00% (11)		03/18/33		35,237		35,325
						71,079
Food — 0.0%
BCPE North Star U.S. HoldCo 2, Inc. Term Loan
7.78% (1 mo. USD Term SOFR + 4.000%) (2)		06/09/28		63,046		62,944
C&S Wholesale Grocers, Inc. Term Loan B
8.70% (3 mo. USD Term SOFR + 5.000%) (2)		09/20/30		144,669		141,714
United Natural Foods, Inc. 2024 Term Loan
8.42% (1 mo. USD Term SOFR + 4.750%) (2)		05/01/31		93,984		94,642
						299,300
Health Care-Products — 0.0%
Antylia Scientific Term Loan
7.66% (3 mo. USD Term SOFR + 4.000%) (2)		05/27/32		53,808		53,471
Hologic, Inc. 2026 Term Loan B
0.00% (11)		01/14/33		48,697		48,177
QuidelOrtho Corp. Term Loan
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		08/20/32		80,854		80,854
QuidelOrtho Corp. Term Loan A
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		08/14/30		57,592		55,361
						237,863

Issues	Maturity Date		Principal Amount		Value
Health Care-Services — 0.1%
Heartland Dental LLC 2025 Term Loan
7.42% (1 mo. USD Term SOFR + 3.750%) (2)		08/25/32	$	89,079	$	89,013
IQVIA, Inc. 2025 Incremental Term Loan B5
5.45% (3 mo. USD Term SOFR + 1.750%) (2)		01/02/31		174,132		174,850
ModivCare Buyer LLC Super Senior Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/30		154,613		155,128
ModivCare Buyer LLC Takeback Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/30/32		262,796		247,028
Pediatric Associates Holding Co. LLC 2021 Term Loan B
7.18% (3 mo. USD Term SOFR + 3.250%) (2)		12/29/28		33,197		31,851
Star Parent, Inc. Term Loan B
7.70% (3 mo. USD Term SOFR + 4.000%) (2)		09/27/30		22,527		22,304
						720,174
Holding Companies - Diversified — 0.0%
GC Ferry Acquisition I, Inc. Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		08/16/32		51,183		50,543
Household Products/Wares — 0.0%
Lavender Dutch BorrowerCo BV Term Loan
6.93% (3 mo. USD Term SOFR + 3.250%) (2)		12/30/32		65,613		64,793
Insurance — 0.0%
Asurion LLC 2021 Second Lien Term Loan B4
9.03% (1 mo. USD Term SOFR + 5.250%) (2)		01/20/29		18,358		18,267
Internet — 0.1%
Arches Buyer, Inc. 2021 Term Loan B
7.02% (1 mo. USD Term SOFR + 3.250%) (2)		12/06/27		47,394		47,291
Barracuda Networks, Inc. 2022 Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (2)		08/15/29		32,301		20,874
Delivery Hero SE 2024 USD Term Loan B
8.64% (3 mo. USD Term SOFR + 5.000%) (2)		12/12/29		135,242		133,171

See accompanying Notes to Financial Statements.

42

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Internet (Continued)
Delivery Hero SE 2026 Term Loan B
10.75% (3 mo. USD Term SOFR + 4.000%) (2)		06/30/32	$	46,653	$	45,195
Magnite, Inc. 2025 Repriced Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		02/06/31		34,068		33,812
MH Sub I LLC 2023 Term Loan
7.92% (1 mo. USD Term SOFR + 4.250%) (2)		05/03/28		51,559		44,469
MH Sub I LLC 2024 Term Loan B4
7.92% (1 mo. USD Term SOFR + 4.250%) (2)		12/31/31		77,034		51,709
Plano HoldCo, Inc. Term Loan B
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		10/02/31		19,800		16,038
PUG LLC 2024 Extended Term Loan B
8.42% (1 mo. USD Term SOFR + 4.750%) (2)		03/15/30		23,693		23,390
Red Ventures LLC 2024 Term Loan B
6.42% (1 mo. USD Term SOFR + 2.750%) (2)		03/04/30		62,901		55,849
TripAdvisor, Inc. Term Loan
6.42% (1 mo. USD Term SOFR + 2.750%) (2)		07/08/31		46,308		44,070
						515,868
Leisure Time — 0.0%
Sabre GLBL, Inc. 2024 Term Loan B1
9.77% (1 mo. USD Term SOFR + 6.000%) (2)		11/15/29		21,912		17,386
Lodging —0.1%
Hilton Domestic Operating Co., Inc. 2023 Term Loan B4
5.43% (1 mo. USD Term SOFR + 1.750%) (2)		11/08/30		498,366		499,898
Station Casinos LLC 2024 Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		03/14/31		28,522		28,546
						528,444
Machinery-Construction & Mining — 0.0%
WEC U.S. Holdings Ltd. 2024 Term Loan
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		01/27/31		50,033		50,002

Issues	Maturity Date		Principal Amount		Value
Media — 0.2%
Charter Communications Operating LLC 2024 Term Loan B5
5.91% (3 mo. USD Term SOFR + 2.250%) (2)		12/15/31	$	1,443,204	$	1,444,741
Ziggo Financing Partnership 2025 Term Loan B
7.03% (6 mo. USD Term SOFR + 3.250%) (2)		01/15/33		62,677		61,189
						1,505,930
Miscellaneous Manufacturers — 0.0%
Cleanova U.S. Holdings LLC 2025 Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (2)		06/14/32		33,890		33,975
Office/Business Equipment — 0.0%
Xerox Holdings Corp. 2023 Non-CoOp Term Loan
7.73% (6 mo. USD Term SOFR + 4.000%) (2)		11/19/29		281,065		200,259
Packaging & Containers — 0.0%
Balcan Innovations, Inc. Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (2)		10/18/31		44,194		29,831
Pharmaceuticals — 0.0%
Jazz Financing Lux SARL 2024 1st Lien Term Loan B2
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		05/05/28		61,574		61,882
REIT — 0.3%
Healthpeak Properties, Inc. 2024 Term Loan A3
4.48% (3 mo. USD Term SOFR + 0.850%) (2)		03/01/29		669,298		659,259
Healthpeak Properties, Inc. Term Loan A1
4.51% (1 mo. USD Term SOFR + 0.840%) (2)		08/20/27		331,629		328,312
Healthpeak Properties, Inc. Term Loan A2
4.51% (1 mo. USD Term SOFR + 0.840%) (2)		02/22/27		331,629		328,312
Invitation Homes Operating Partnership LP 2024 Term Loan
4.53% (1 mo. USD Term SOFR + 0.850%) (2)		09/09/28		954,196		947,040
						2,262,923

See accompanying Notes to Financial Statements.

43

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Retail — 0.1%
1011778 BC Unlimited Liability Co. 2024 Term Loan B6
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		09/20/30	$	19,307	$	19,288
Dave & Buster’s, Inc. 2024 1st Lien Term Loan B
6.94% (3 mo. USD Term SOFR + 3.250%) (2)		11/01/31		63,191		53,092
KFC Holding Co. 2021 Term Loan B
5.54% (1 mo. USD Term SOFR + 1.750%) (2)		03/15/28		190,736		191,690
Michaels Cos., Inc. 2026 Term Loan B
8.67% (3 mo. USD Term SOFR + 5.000%) (2)		03/15/33		132,756		129,113
Peer Holding III BV 2025 USD Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		09/29/32		150,000		148,898
Peer Holding III BV 2025 USD Term Loan B5B
6.20% (3 mo. USD Term SOFR + 2.500%) (2)		07/01/31		124,104		124,008
Raising Cane’s Restaurants LLC 2025 Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		11/03/32		61,725		61,436
						727,525
Software — 0.1%
Cast & Crew Payroll LLC 2021 Incremental Term Loan
7.42% (3 mo. USD Term SOFR + 3.750% (2)		12/29/28		22,419		9,007
Cloud Software Group, Inc. 2025 Term Loan B (2031)
6.95% (3 mo. USD Term SOFR + 3.250%) (2)		03/21/31		40,475		37,197
Cloudera, Inc. 2021 Term Loan
7.52% (1 mo. USD Term SOFR + 3.750%) (2)		10/08/28		86,915		77,843
Darktrace PLC 1st Lien Term Loan
6.90% (3 mo. USD Term SOFR + 3.250%) (2)		10/09/31		55,273		53,069
DTI Holdco, Inc. 2025 Term Loan B
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		04/26/29		31,659		27,412
Electronic Arts, Inc. USD Term Loan B
0.00% (11)		03/24/33		18,424		18,332

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		01/30/32	$	37,438	$	35,893
Planview Parent, Inc. 2024 1st Lien Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		12/17/27		269,417		202,906
Project Alpha Intermediate Holding, Inc. 2024 1st Lien Term Loan B
6.95% (3 mo. USD Term SOFR + 3.250%) (2)		10/26/30		165,011		125,784
Quartz Acquireco LLC 2025 Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		06/28/30		66,471		55,670
Renaissance Holding Corp. 2024 1st Lien Term Loan
7.67% (3 mo. USD Term SOFR + 4.000%) (2)		04/05/30		244,054		175,491
SonarSource Financing LLC Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (2)		12/19/30		61,260		56,359
						874,963
Telecommunications — 0.0%
GOGO Intermediate Holdings LLC Term Loan B
7.53% (1 mo. USD Term SOFR + 3.750%) (2)		04/30/28		42,362		37,194
Zayo Group Holdings, Inc. 2025 USD Term Loan
6.78% (1 mo. USD Term SOFR + 3.000%) (2)		03/11/30		42,250		41,562
						78,756
Total Bank Loans
(Cost: $12,478,128)						12,160,409
Total Fixed Income Securities
(Cost: $986,195,511)						983,625,425
CONVERTIBLE SECURITIES — 0.2%
CONVERTIBLE CORPORATE BONDS — 0.2%
Beverages — 0.0%
Davide Campari-Milano NV (Italy)
2.38% (6)		01/17/29		EUR 300,000		336,700
Commercial Services — 0.0%
Worldline SA (France)
0.00% (6),(8)		07/30/26		EUR  128,682		150,501

See accompanying Notes to Financial Statements.

44

TCW MetWest Low Duration Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Engineering & Construction — 0.1%
Cellnex Telecom SA
0.75% (6)		11/20/31		EUR 1,300,000	$	1,334,294
Internet — 0.1%
Delivery Hero SE
1.50% (6)		01/15/28		EUR  400,000		430,374
Total Convertible Corporate Bonds
(Cost: $2,212,603)						2,251,869
Total Convertible Securities
(Cost: $2,212,603)						2,251,869
Issues			Shares		Value
COMMON STOCK — 0.0%
Health Care-Services — 0.0%
ModivCare, Inc.(12)				31,872		207,168
Total Common Stock
(Cost: $207,168)						207,168

Issues	Shares		Value
MONEY MARKET INVESTMENTS — 4.8%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (13)		5,505,923	$	5,505,923
TCW Central Cash Fund, 3.69% (13),(14)		38,711,802		38,711,802
Total Money Market Investments (Cost: $44,217,725)				44,217,725
Total Investments (112.2%) (Cost: $1,032,833,007)				1,030,302,187
Net unrealized appreciation/depreciation on Unfunded Commitments (15) (0.0%)				(110	)
Liabilities In Excess Of Other Assets (-12.2%)				(111,749,461	)
Net Assets (100.0%)			$	918,552,616

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
2,707	2-Year U.S. Treasury Note Futures		06/30/26	$	565,610,910		$	561,554,460		$	(4,056,450	)
Short Futures
14	10-Year Australian Bond Futures		06/15/26	$	(1,036,302	)	$	(1,033,208	)	$	3,094
431	10-Year U.S. Treasury Note Futures		06/18/26		(49,695,651	)		(48,925,234	)		770,417
25	3-Year Australian Bond Futures		06/15/26		(1,769,319	)		(1,774,831	)		(5,512	)
798	5-Year U.S. Treasury Note Futures		06/30/26		(87,437,398	)		(86,327,391	)		1,110,007
123	Euro Schatz Futures		06/08/26		(14,984,043	)		(14,986,951	)		(2,908	)
2	Euro-Bobl Futures		06/08/26		(268,886	)		(265,997	)		2,889
23	Euro-Bund Futures		06/08/26		(3,339,542	)		(3,322,910	)		16,632
3	Long Gilt Futures		06/26/26		(346,642	)		(347,306	)		(664	)
85	U.S. Ultra Long Bond Futures		06/18/26		(10,147,806	)		(9,907,813	)		239,993
				$	(169,025,589	)	$	(166,891,641	)	$	2,133,948

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (16)
Citibank N.A.		EUR		194,707		04/01/26	$	228,807	$	224,340	$	(4,467	)
Goldman Sachs & Co.		EUR		4,711,831		04/01/26		5,431,317		5,428,971		(2,346	)
Citibank N.A.		GBP		7,873,899		04/01/26		10,484,096		10,383,305		(100,791	)
							$	16,144,220	$	16,036,616	$	(107,604	)

See accompanying Notes to Financial Statements.

45

TCW MetWest Low Duration Bond Fund

Schedule of Investments (Continued)

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
SELL (17)
JP Morgan Chase Bank		AUD		2,651,154		06/26/26	$	1,839,362	$	1,813,473	$	25,889
Barclays Capital		AUD		3,082,052		06/26/26		2,138,259		2,108,221		30,038
Bank of America		EUR		4,490,398		04/01/26		5,286,055		5,173,835		112,220
Citibank N.A.		EUR		416,140		04/01/26		483,512		479,476		4,036
Bank of America		EUR		2,745,789		06/26/26		3,199,874		3,175,875		23,999
JP Morgan Chase Bank		EUR		1,560,515		06/26/26		1,818,847		1,804,946		13,901
Goldman Sachs & Co.		EUR		9,125,159		06/26/26		10,575,138		10,554,475		20,663
Citibank N.A.		EUR		2,142,477		06/26/26		2,481,285		2,478,064		3,221
Bank of New York		EUR		2,383,340		06/26/26		2,761,355		2,756,654		4,701
Bank of New York		GBP		3,269,787		04/01/26		4,424,450		4,311,865		112,585
JP Morgan Chase Bank		GBP		4,604,112		04/01/26		6,144,301		6,071,439		72,862
JP Morgan Chase Bank		GBP		2,341,624		06/26/26		3,113,144		3,086,963		26,181
Citibank N.A.		GBP		7,873,899		06/26/26		10,480,632		10,380,163		100,469
							$	54,746,214	$	54,195,449	$	550,765

OTC - Credit Default Swaps

Sell Protection

Notional Amount (19)

Expiration Date

Counterparty

Reference Entity

Fixed Deal Pay Rate

Payment Frequency

Unrealized Appreciation (Depreciation)

Premium Paid

Value

OTC Swaps (18)

USD 2,255,000

06/20/31

Goldman Sachs International

Oracle Corp. 3.25% 11/15/27

1.00

%

Quarterly

$

(5,747

)

$

(84,340

)

$

(90,087

)

Total Credit Default Swaps

Centrally Cleared - Interest Rate Swap Agreements
Notional Amount	Expiration Date		Payment Made by Fund Frequency		Payment Made by Fund		Payment Received by Fund Frequency		Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid			Value
GBP 30,979,000		03/20/28		Annual		12 -Month SONIA		Annual		3.93	%	$	(72,742	)	$	(133,082	)	$	(205,824	)

Notes to the Schedule of Investments:

ABS Asset-Backed Securities.

ACES Alternative Credit Enhancement Securities.

CLO Collateralized Loan Obligation.

CMT Constant Maturity Treasury Index.

EUR Euro Currency.

EURIBOR Euro Interbank Offered Rate.

GBP British Pound Sterling.

I/F Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates.

I/O Interest Only Security.

LIBOR London Interbank Offered Rate.

PAC Planned Amortization Class.

PIK Payment In Kind.

REIT Real Estate Investment Trust.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

See accompanying Notes to Financial Statements.

46

TCW MetWest Low Duration Bond Fund

March 31, 2026

SONIA Sterling Overnight Index Average.

STACR Structured Agency Credit Risk.

STRIPS Separate Trading of Registered Interest and Principal Securities.

TBA To Be Announced.

USD United States Dollar.

(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 March 31, 2026, the value of these securities amounted to $264,361,979 or 28.8% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(4) 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.

(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) 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 March 31, 2026, the value of these securities amounted to $27,179,096 or 3.0% of net assets.

(7) Perpetual maturity.

(8) Security is not accruing interest.

(9) Restricted security (Note 11).

(10) 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.

(11) 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.

(12) Non-income producing security.

(13) Rate disclosed is the 7-day net yield as of March 31, 2026.

(14) Affiliated issuer.

(15) Unfunded or partially unfunded loan commitments. The Fund may enter into certain credit agreements for which all or a portion may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion.

(16) Fund buys foreign currency, sells USD.

(17) Fund sells foreign currency, buys USD.

(18) 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 entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreements.

(19) 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.

The summary of the TCW MetWest Low Duration Bond Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund
	$	17,362,135	$	1,705,949,667	$	1,684,600,000		38,711,802	$	38,711,802	$	3,385,577	$	—	$	—	$	—
Total									$	38,711,802	$	3,385,577	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

47

TCW MetWest Low Duration Bond Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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	$	—		$	264,745,162		$	—	$	264,745,162
U.S. Treasury Securities		—			197,539,163			—		197,539,163
Residential Mortgage-Backed Securities — Agency		—			190,605,680			—		190,605,680
Asset-Backed Securities		—			139,223,082			4,505,534		143,728,616
Residential Mortgage-Backed Securities — Non-Agency		—			91,472,460			—		91,472,460
Commercial Mortgage-Backed Securities — Non-Agency		—			63,710,930			—		63,710,930
Foreign Government Bonds		—			14,299,743			—		14,299,743
Bank Loans		—			12,160,409			—		12,160,409
Commercial Mortgage-Backed Securities — Agency		—			5,363,262			—		5,363,262
Total Fixed Income Securities		—			979,119,891			4,505,534		983,625,425
Convertible Securities
Convertible Corporate Bonds		—			2,251,869			—		2,251,869
Equity Securities
Money Market Investments		44,217,725			—			—		44,217,725
Common Stock		—			207,168			—		207,168
Total Equity Securities		44,217,725			207,168			—		44,424,893
Net Unrealized Appreciation (Depreciation) on Unfunded Commitments		—			(110	)		—		(110	)
Total Investments	$	44,217,725		$	981,578,818		$	4,505,534	$	1,030,302,077
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			550,765			—		550,765
Futures Contracts
Interest Rate Risk		2,143,032			—			—		2,143,032
Total	$	46,360,757		$	982,129,583		$	4,505,534	$	1,032,995,874
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(4,065,534	)	$	—		$	—	$	(4,065,534	)
Forward Currency Contracts
Foreign Currency Risk		—			(107,604	)		—		(107,604	)
Swap Agreements
Credit Rate Risk		—			(90,087	)		—		(90,087	)
Interest Rate Risk					(205,824	)				(205,824	)
Total	$	(4,065,534	)	$	(403,515	)	$	—	$	(4,469,049	)

See accompanying Notes to Financial Statements.

48

TCW MetWest Strategic Income Fund

Schedule of Investments March 31, 2026

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 96.6% of Net Assets
ASSET-BACKED SECURITIES — 8.7%
ALLO Issuer LLC Series 2023-1A, Class C
12.18% (1)		06/20/53	$	230,000	$	239,455
Bain Capital Credit CLO Ltd. Series 2021-3A, Class BR
5.22% (3 mo. USD Term SOFR + 1.550%) (1),(2)		07/24/34		125,000		124,750
Ballyrock CLO 19 Ltd. Series 2022-19A, Class CR
6.77% (3 mo. USD Term SOFR + 3.100%) (1),(2)		04/20/35		175,000		171,299
BBAM U.S. CLO VI Ltd. Series 2025-6A, Class SUB
0.00% (1),(3),(4)		01/27/39		100,000		76,722
BCRED CLO LLC Series 2023-1A, Class A
5.97% (3 mo. USD Term SOFR + 2.300%) (1),(2)		01/20/36		250,000		250,192
Carvana Auto Receivables Trust Series 2022-P3, Class R
0.00% (1),(4),(5)		09/10/29		1,750		131,942
Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC Series 2025-1A, Class A2
6.00% (1)		05/20/55		65,000		66,041
Crystal River CDO Ltd. Series 2005-1A, Class A
4.29% (3 mo. USD Term SOFR + 0.622%) (1),(2)		03/02/46		419,900		37,162
Diamond Infrastructure Funding LLC Series 2021-1A, Class C
3.48% (1)		04/15/49		215,000		210,986
Diamond Issuer LLC Series 2021-1A, Class C
3.79% (1)		11/20/51		100,000		96,940
Dryden 68 CLO Ltd. Series 2019-68A, Class CRR
5.47% (3 mo. USD Term SOFR + 1.800%) (1),(2)		07/15/35		125,000		124,351
Dryden 98 CLO Ltd. Series 2022-98A, Class CR
5.58% (3 mo. USD Term SOFR + 1.900%) (1),(2)		04/20/35		125,000		123,920
Elmwood CLO 17 Ltd. Series 2022-4A, Class SUB
4.36% (1),(3)		07/17/37		250,000		138,862
Hertz Vehicle Financing III LP Series 2021-2A, Class D
4.34% (1)		12/27/27		150,000		148,148
HPS Loan Management Ltd. Series 2024-19A, Class C2
6.57% (3 mo. USD Term SOFR + 2.900%) (1),(2)		04/15/37		250,000		250,548

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
KGS-Alpha SBA COOF Trust Series 2015-1, Class A (I/O)
1.34% (1),(3)		10/25/35	$	393,515	$	8,648
Lehman XS Trust Series 2006-13, Class 1A2
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		09/25/36		843		—
Neuberger Berman Loan Advisers CLO 56 Ltd. Series 2024-56A, Class SUB
0.00% (1),(4)		07/24/37		250,000		137,725
OCP CLO Ltd. Series 2015-9A, Class SUB
0.00% (1),(3),(4)		01/15/37		325,800		88,139
Octagon 56 Ltd. Series 2021-1A, Class C
5.88% (3 mo. USD Term SOFR + 2.212%) (1),(2)		10/15/34		250,000		249,054
Palmer Square CLO Ltd. Series 2024-3A, Class SUB
0.00% (1),(3),(4)		07/20/37		250,000		152,233
Rockford Tower CLO Ltd. Series 2017-3A, Class A
5.12% (3 mo. USD Term SOFR + 1.452%) (1),(2)		10/20/30		15		15
Skyline Aviation, Inc. Class A
3.23% (6)		07/03/38		52,590		49,693
SLC Student Loan Trust Series 2004-1, Class B
4.34% (90 day USD SOFR Average + 0.552%) (2)		08/15/31		83,735		73,959
SLM Student Loan Trust Series 2007-7, Class B
4.90% (90 day USD SOFR Average + 1.012%) (2)		10/27/70		215,000		224,185
SLM Student Loan Trust Series 2008-2, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		01/25/83		340,000		362,391
SLM Student Loan Trust Series 2008-3, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		04/26/83		340,000		353,951
SLM Student Loan Trust Series 2008-4, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		04/25/73		340,000		360,999
SLM Student Loan Trust Series 2008-5, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/25/73		235,000		249,770
Structured Receivables Finance LLC Series 2010-A, Class B
7.61% (1)		01/16/46		59,862		60,201

See accompanying Notes to Financial Statements.

49

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Structured Receivables Finance LLC Series 2010-B, Class B
7.97% (1)		08/15/36	$	157,733	$	160,242
Switch ABS Issuer LLC Series 2024-2A, Class C
10.03% (1)		06/25/54		55,000		56,138
Voya CLO Ltd. Series 2020-1A, Class DRR
6.62% (3 mo. USD Term SOFR + 2.950%) (1),(2)		07/16/34		150,000		145,869
Total Asset-Backed Securities
(Cost: $5,300,351)						4,924,530
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY —19.1%
Federal Home Loan Mortgage Corp., Pool #SD8286
4.00%		01/01/53		103,286		97,701
Federal Home Loan Mortgage Corp., Pool #SD8323
5.00%		05/01/53		212,918		210,835
Federal Home Loan Mortgage Corp. REMICS Series 3247, Class SI (I/O) (I/F)
0.15% (-30 day USD SOFR Average + 6.536%) (2)		08/15/36		4,018,848		16,952
Federal Home Loan Mortgage Corp. REMICS Series 3289, Class SD (I/O) (I/F)
2.33% (-30 day USD SOFR Average + 6.006%) (2)		03/15/37		367,787		24,172
Federal Home Loan Mortgage Corp. REMICS Series 5100, Class HI (I/O)
4.00%		02/25/47		237,012		41,186
Federal Home Loan Mortgage Corp. REMICS Series 5149, Class DI (I/O)
4.00%		10/25/48		284,817		55,671
Federal Home Loan Mortgage Corp. REMICS Series 5546, Class AS (I/F)
5.01% (-30 day USD SOFR Average + 10.500%) (2)		06/25/55		73,239		69,610
Federal Home Loan Mortgage Corp. REMICS Series 5547, Class S (I/F)
5.08% (-30 day USD SOFR Average + 10.575%) (2)		06/25/55		75,737		68,739
Federal Home Loan Mortgage Corp. REMICS Series 5548, Class S (I/F)
5.56% (-30 day USD SOFR Average + 11.667%) (2)		06/25/55		72,986		70,197
Federal Home Loan Mortgage Corp. REMICS Series 5578, Class SD (I/O) (I/F)
2.24% (-30 day USD SOFR Average + 5.900%) (2)		09/25/55		480,874		47,365

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 5617, Class IL (I/O)
4.00%		08/25/51	$	221,330	$	47,018
Federal Home Loan Mortgage Corp. STRIPS Series 386, Class C1 (I/O)
2.00%		03/15/52		836,448		107,956
Federal National Mortgage Association, Pool #MA4599
3.00%		05/01/52		413,662		364,893
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		151,288		143,373
Federal National Mortgage Association, Pool #MA5009
5.00%		05/01/53		283,701		280,786
Federal National Mortgage Association Interest STRIPS Series 426, Class C40 (I/O)
2.00%		06/25/51		173,637		23,425
Federal National Mortgage Association Interest STRIPS Series 426, Class C41 (I/O)
2.00%		03/25/51		663,333		89,074
Federal National Mortgage Association Interest STRIPS Series 426, Class C42 (I/O)
2.00%		11/25/50		421,958		56,710
Federal National Mortgage Association Interest STRIPS Series 434, Class C29 (I/O)
2.00%		10/25/52		1,004,493		128,618
Federal National Mortgage Association REMICS Series 2000-45, Class SA (I/O) (I/F)
4.16% (-30 day USD SOFR Average + 7.836%) (2)		12/18/30		226		11
Federal National Mortgage Association REMICS Series 2001-42, Class SB (I/O) (I/F)
8.50% (-30 day USD SOFR Average + 126.168%) (2)		09/25/31		81		87
Federal National Mortgage Association REMICS Series 2003-124, Class TS (I/O) (I/F)
9.80% (-30 day USD SOFR Average + 99.197%) (2)		01/25/34		1,361		1,495
Federal National Mortgage Association REMICS Series 2006-125, Class SM (I/O) (I/F)
3.42% (-30 day USD SOFR Average + 7.086%) (2)		01/25/37		281,165		26,413
Federal National Mortgage Association REMICS Series 2008-50, Class SA (I/O) (I/F)
2.27% (-30 day USD SOFR Average + 5.936%) (2)		11/25/36		306,654		23,797
Federal National Mortgage Association REMICS Series 2010-43, Class KS (I/O) (I/F)
2.64% (-30 day USD SOFR Average + 6.306%) (2)		05/25/40		327,599		31,565

See accompanying Notes to Financial Statements.

50

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2021-70, Class AI (I/O)
4.00%		10/25/51	$	262,686	$	57,939
Federal National Mortgage Association REMICS Series 2024-81, Class SE (I/O) (I/F)
1.69% (-30 day USD SOFR Average + 5.350%) (2)		07/25/54		1,180,158		63,694
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52		306,291		290,275
Government National Mortgage Association REMICS Series 2013-25, Class SA (I/O) (I/F)
2.41% (-1 mo. USD Term SOFR + 6.086%) (2)		02/20/43		922,469		95,432
Government National Mortgage Association REMICS Series 2024-159, Class XS (I/O) (I/F)
1.83% (-30 day USD SOFR Average + 5.500%) (2)		10/20/54		1,031,949		78,755
Government National Mortgage Association, TBA
4.00% (7)		06/01/55		925,000		865,928
Uniform Mortgage-Backed Security, TBA
2.00% (7)		09/01/51		650,000		523,415
2.50% (7)		09/01/51		525,000		441,752
2.50% (7)		09/01/51		275,000		231,422
3.00% (7)		11/01/51		275,000		241,704
3.50% (7)		12/01/51		1,975,000		1,810,674
4.00% (7)		05/01/55		100,000		94,252
4.00% (7)		05/01/55		725,000		683,997
4.50% (7)		01/01/56		1,650,000		1,591,710
5.00% (7)		01/01/56		925,000		912,096
5.50% (7)		12/01/55		725,000		728,437
Total Residential Mortgage-Backed Securities — Agency
(Cost: $10,968,840)						10,739,131
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 12.4%
1211 Avenue of the Americas Trust Series 2015-1211, Class A1A2
3.90% (1)		08/10/35		137,000		131,332
1211 Avenue of the Americas Trust Series 2015-1211, Class B
4.09% (1),(3)		08/10/35		150,000		142,331
245 Park Avenue Trust Series 2017-245P, Class E
3.66% (1),(3)		06/05/37		170,000		164,298
280 Park Avenue Mortgage Trust Series 2017-280P, Class E
6.09% (1 mo. USD Term SOFR + 2.419%) (1),(2)		09/15/34		150,000		147,108

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
AMSR Trust Series 2021-SFR3, Class F
3.23% (1)		10/17/38	$	120,000	$	118,215
Banc of America Commercial Mortgage Trust Series 2015-UBS7, Class XE (I/O)
1.25% (1),(3)		09/15/48		1,500,000		377
BX Commercial Mortgage Trust Series 2025-BCAT, Class D
6.32% (1 mo. USD Term SOFR + 2.650%) (1),(2)		08/15/42		191,657		192,481
BX Trust Series 2021-LBA, Class DV
5.64% (1 mo. USD Term SOFR + 1.964%) (1),(2)		02/15/36		229,335		229,265
BX Trust Series 2025-VLT6, Class E
6.86% (1 mo. USD Term SOFR + 3.191%) (1),(2)		03/15/42		129,000		128,198
BXHPP Trust Series 2021-FILM, Class D
5.29% (1 mo. USD Term SOFR + 1.614%) (1),(2)		08/15/36		100,000		86,462
Citigroup Commercial Mortgage Trust Series 2016-P4, Class XA (I/O)
1.86% (3)		07/10/49		1,398,361		14
Citigroup Commercial Mortgage Trust Series 2020-555, Class G
3.50% (1),(3)		12/10/41		200,000		171,496
COBALT CMBS Commercial Mortgage Trust Series 2007-C2, Class X (I/O)
0.49% (1),(3)		04/15/47		357,048		778
COMM Mortgage Trust Series 2013-CR12, Class XA (I/O)
0.42% (3)		10/10/46		86,374		1
CoreVest American Finance Trust Series 2020-1, Class A2
2.30% (1)		03/15/50		51,439		48,932
CSMC Trust Series 2014-USA, Class X1 (I/O)
0.54% (1),(3)		09/15/37		9,783,817		79,226
DROP Mortgage Trust Series 2021-FILE, Class D
6.54% (1 mo. USD Term SOFR + 2.864%) (1),(2)		10/15/43		150,000		146,719
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K047, Class X3 (I/O)
3.78% (3)		06/25/43		105,846		1
FirstKey Homes Trust Series 2021-SFR1, Class F2
3.45% (1)		08/17/38		180,000		178,394
FirstKey Homes Trust Series 2022-SFR1, Class D
5.20% (1)		05/19/39		350,000		347,815

See accompanying Notes to Financial Statements.

51

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
FRTKL Group, Inc. Series 2021-SFR1, Class G
4.11% (1)		09/17/38	$	300,000	$	295,124
Hilton USA Trust Series 2016-HHV, Class F
4.19% (1),(3)		11/05/38		170,000		167,431
JPMBB Commercial Mortgage Securities Trust Series 2014-C22, Class XA (I/O)
0.40% (3)		09/15/47		373,102		4
JPMBB Commercial Mortgage Securities Trust Series 2014-C25, Class XA (I/O)
0.33% (3)		11/15/47		764,551		3,128
JPMDB Commercial Mortgage Securities Trust Series 2018-C8, Class XEF (I/O)
1.76% (1),(3)		06/15/51		1,157,000		37,606
KRE Commercial Mortgage Trust Series 2025-AIP4, Class E
6.67% (1 mo. USD Term SOFR + 3.000%) (1),(2)		03/15/42		121,469		121,027
Ladder Capital Commercial Mortgage Trust Series 2013-GCP, Class XA (I/O)
1.13% (1),(3)		02/15/36		1,306,260		27,776
Manhattan West Mortgage Trust Series 2020-1MW, Class D
2.34% (1)		09/10/39		150,000		143,078
MKT Mortgage Trust Series 2020-525M, Class D
2.94% (1),(3)		02/12/40		120,000		98,131
Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C9, Class XB (I/O)
0.09% (1),(3)		05/15/46		7,057,432		986
Natixis Commercial Mortgage Securities Trust Series 2018-ALXA, Class E
4.32% (1),(3)		01/15/43		180,000		158,111
NXPT Commercial Mortgage Trust Series 2024-STOR, Class E
6.70% (1),(3)		11/05/41		144,000		144,404
NYC Commercial Mortgage Trust Series 2025-3BP, Class D
6.11% (1 mo. USD Term SOFR + 2.441%) (1),(2)		02/15/42		135,000		134,904
NYO Commercial Mortgage Trust Series 2021-1290, Class C
5.78% (1 mo. USD Term SOFR + 2.109%) (1),(2)		11/15/38		100,000		98,919
NYO Commercial Mortgage Trust Series 2021-1290, Class D
6.33% (1 mo. USD Term SOFR + 2.659%) (1),(2)		11/15/38		140,000		138,902
Progress Residential Trust Series 2021-SFR10, Class H
5.23% (1)		12/17/40		232,101		226,628

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Progress Residential Trust Series 2021-SFR3, Class E1
2.54% (1)		05/17/26	$	225,000	$	224,108
Progress Residential Trust Series 2021-SFR3, Class F
3.44% (1)		05/17/26		200,000		199,305
Progress Residential Trust Series 2021-SFR6, Class G
4.00% (1)		07/17/38		250,000		248,436
Progress Residential Trust Series 2021-SFR7, Class F
3.83% (1)		08/17/40		220,000		208,055
Progress Residential Trust Series 2022-SFR1, Class F
4.88% (1)		02/17/41		130,000		126,073
RIDE Series 2025-SHRE, Class D
6.30% (1),(3)		02/14/47		100,000		102,136
ROCK Trust Series 2024-CNTR, Class D
7.11% (1)		11/13/41		213,000		221,700
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class D
4.39% (1),(3)		01/05/43		200,000		149,011
SFO Commercial Mortgage Trust Series 2021-555, Class B
5.29% (1 mo. USD Term SOFR + 1.614%) (1),(2)		05/15/38		150,000		149,779
SMRT Commercial Mortgage Trust Series 2022-MINI, Class E
6.37% (1 mo. USD Term SOFR + 2.700%) (1),(2)		01/15/39		100,000		99,684
SMRT Commercial Mortgage Trust Series 2022-MINI, Class F
7.02% (1 mo. USD Term SOFR + 3.350%) (1),(2)		01/15/39		150,000		146,427
SWCH Commercial Mortgage Trust Series 2025-DATA, Class E
7.01% (1 mo. USD Term SOFR + 3.340%) (1),(2)		02/15/42		200,000		197,051
TCO Commercial Mortgage Trust Series 2024-DPM, Class D
6.41% (1 mo. USD Term SOFR + 2.741%) (1),(2)		12/15/39		130,000		130,126
Tricon American Homes Series 2020-SFR1, Class D
2.55% (1)		07/17/38		133,000		131,878
Tricon American Homes Trust Series 2020-SFR1, Class F
4.88% (1)		07/17/38		244,000		243,110
Tricon Residential Trust Series 2021-SFR1, Class F
3.69% (1)		07/17/38		230,000		228,421
U.K. Logistics DAC Series 2025-1A, Class E
9.25% (1 day GBP SONIA + 5.500% 1),(2)		05/17/35		GBP 71,788		94,617

See accompanying Notes to Financial Statements.

52

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Wells Fargo Commercial Mortgage Trust Series 2015-NXS2, Class XA (I/O)
0.00% (3),(4)		07/15/58	$	118,540	$	1
Wells Fargo Commercial Mortgage Trust Series 2016-NXS6, Class XA (I/O)
1.47% (3)		11/15/49		2,153,622		1,756
WFRBS Commercial Mortgage Trust Series 2013-C14, Class XA (I/O)
0.30% (3)		06/15/46		29,300		—
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $7,356,262)						7,011,276
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 0.7%
Federal Home Loan Mortgage Corp. Multifamily PC REMIC Trust Series 2019-P002, Class X (I/O)
0.77% (3)		07/25/33		535,000		27,242
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KC04, Class X1 (I/O)
1.32% (3)		12/25/26		976,992		8,402
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KC05, Class X1 (I/O)
1.18% (3)		06/25/27		1,308,478		10,544
Federal National Mortgage Association-ACES Series 2016-M11, Class X2 (ACES) (I/O)
2.97% (3)		07/25/39		170,472		3,055
FREMF Mortgage Trust Series 2017-K66, Class X2A (I/O)
0.10% (1)		06/25/27		39,076,392		30,351
Government National Mortgage Association Series 2010-148 (I/O)
0.30% (3)		09/16/50		1,246,004		12,963
Government National Mortgage Association Series 2012-123 (I/O)
0.60% (3)		12/16/51		1,803,528		29,058
Government National Mortgage Association Series 2012-125 (I/O)
0.16% (3)		02/16/53		5,378,916		30,509
Government National Mortgage Association Series 2012-27 (I/O)
0.19% (3)		04/16/53		2,451,143		7,175
Government National Mortgage Association Series 2013-156 (I/O)
0.21% (3)		06/16/55		3,228,079		11,476
Government National Mortgage Association Series 2013-163 (I/O)
1.01% (3)		02/16/46		693,587		8,487
Government National Mortgage Association Series 2013-63 (I/O)
0.71% (3)		09/16/51		2,373,953		53,821

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association Series 2013-74 (I/O)
0.45% (3)		12/16/53	$	328,177	$	2,422
Government National Mortgage Association Series 2014-103 (I/O)
0.18% (3)		05/16/55		799,752		3,830
Government National Mortgage Association Series 2014-125 (I/O)
0.87% (3)		11/16/54		347,404		8,877
Government National Mortgage Association Series 2015-47 (I/O)
0.36% (3)		10/16/56		486,272		5,535
Government National Mortgage Association Series 2020-184 (I/O)
0.91% (3)		11/16/60		2,150,955		143,971
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $965,590)						397,718
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 24.0%
ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP1, Class A2D
4.55% (1 mo. USD Term SOFR + 0.874%) (2)		03/25/37		339,859		138,765
ACE Securities Corp. Home Equity Loan Trust Series 2007-HE1, Class A
1 4.09% (1 mo. USD Term SOFR + 0.414%) (2)		01/25/37		516,882		282,263
Ajax Mortgage Loan Trust Series 2021-C, Class A
6.12% (1)		01/25/61		153,887		154,088
American Home Mortgage Assets Trust Series 2007-1, Class A1
4.56% (1 yr. MTA + 0.700%) (2)		02/25/47		690,581		233,058
Angel Oak Mortgage Trust Series 2024-11, Class M1A
6.58% (1),(3)		08/25/69		200,000		201,896
Banc of America Funding Corp. Series 2015-R3, Class 1A2
3.86% (1),(3)		03/27/36		313,929		267,368
Banc of America Funding Trust Series 2006-7, Class T2A
5.69% (3)		10/25/36		172,972		156,542
Banc of America Funding Trust Series 2014-R5, Class 1A2
3.74% (6 mo. USD Term SOFR + 1.928%) (1),(2)		09/26/45		201,352		143,464
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2C
3.46%		02/25/37		189,962		108,369
Carrington Mortgage Loan Trust Series 2006-NC4, Class A4
4.03% (1 mo. USD Term SOFR + 0.354%) (2)		10/25/36		175,000		154,770

See accompanying Notes to Financial Statements.

53

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Carrington Mortgage Loan Trust Series 2007-RFC1, Class A3
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		12/25/36	$	54,385	$	53,645
CIM Trust Series 2020-R6, Class A1
2.25% (1),(3)		12/25/60		233,019		213,576
CIM Trust Series 2021-R1, Class A2
2.40% (1),(3)		08/25/56		222,451		204,097
CIM Trust Series 2021-R3, Class A1A
1.95% (1),(3)		06/25/57		116,449		108,359
CIM Trust Series 2021-R5, Class A1B
2.00% (1),(3)		08/25/61		115,000		77,554
CIM Trust Series 2025-R1, Class A1
5.00% (1)		02/25/99		180,427		178,679
Citigroup Mortgage Loan Trust, Inc. Series 2005-WF2, Class AF6A
6.13%		08/25/35		248,308		230,263
COLT Mortgage Loan Trust Series 2021-2, Class A1
0.92% (1),(3)		08/25/66		76,010		64,340
Conseco Finance Corp. Series 1999-5, Class A5
7.86% (3)		03/01/30		67,923		16,622
Countrywide Alternative Loan Trust Series 2005-10CB, Class 1A8
5.50%		05/25/35		248,250		199,142
Countrywide Alternative Loan Trust Series 2005-59, Class 1A
1 4.45% (1 mo. USD Term SOFR + 0.774%) (2)		11/20/35		255,358		245,902
Countrywide Alternative Loan Trust Series 2007-15CB, Class A7
6.00%		07/25/37		430,261		244,565
Credit Suisse First Boston Mortgage Securities Corp. Series 98-1, Class A4
6.49%		09/25/28		6,849		6,836
Credit Suisse First Boston Mortgage Securities Corp. Series 98-1, Class A5
6.96% (3)		09/25/28		16,509		16,504
CSMC Mortgage-Backed Trust Series 2007-5, Class 1A9
7.00% (3)		08/25/37		425,735		227,148
CSMC Trust Series 2015-12R, Class 2A2
3.63% (1),(3)		11/30/37		68,065		62,990
CSMC Trust Series 2021-RPL4, Class A1
4.15% (1),(3)		12/27/60		160,120		159,677
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2007-AR3, Class 2A5
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		06/25/37		230,564		207,847
Ellington Financial Mortgage Trust Series 2021-3, Class A1
1.24% (1),(3)		09/25/66		64,235		53,744
Ellington Financial Mortgage Trust Series 2025-NQM1, Class B1B
7.43% (1),(3)		01/25/70		190,000		190,075

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3, Class B2
9.91% (30 day USD SOFR Average + 6.250%) (1),(2)		09/25/41	$	200,000	$	203,701
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-R04, Class 2B1
9.03% (30 day USD SOFR Average + 5.364%) (1),(2)		06/25/39		134,205		135,350
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-R06, Class 2B1
7.53% (30 day USD SOFR Average + 3.864%) (1),(2)		09/25/39		51,838		52,367
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1B2
9.66% (30 day USD SOFR Average + 6.000%) (1),(2)		10/25/41		195,000		199,072
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R03, Class 1B2
9.16% (30 day USD SOFR Average + 5.500%) (1),(2)		12/25/41		185,000		189,513
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R01, Class 1B2
9.66% (30 day USD SOFR Average + 6.000%) (1),(2)		12/25/41		200,000		205,280
First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2B
4.01% (1 mo. USD Term SOFR + 0.334%) (2)		12/25/37		226,281		210,779
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2B
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		03/25/37		475,845		225,272
Fremont Home Loan Trust Series 2005-A, Class M4
4.81% (1 mo. USD Term SOFR + 1.134%) (2)		01/25/35		286,455		266,187
GMACM Mortgage Loan Trust Series 2006-AR1, Class 1A1
3.63% (3)		04/19/36		148,181		123,344
GreenPoint MTA Trust Series 2005-AR1, Class A2
4.23% (1 mo. USD Term SOFR + 0.554%) (2)		06/25/45		49,682		44,427
GSAA Home Equity Trust Series 2006-1, Class A3
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		01/25/36		610,418		245,635
GSAA Home Equity Trust Series 2006-10, Class AF3
5.98% (3)		06/25/36		548,066		118,386

See accompanying Notes to Financial Statements.

54

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
GSAA Home Equity Trust Series 2006-6, Class AF3
5.73% (3)		03/25/36	$	489,415	$	130,003
GSAA Trust Series 2006-7, Class AF3
6.72%		03/25/46		621,475		209,921
GSAMP Trust Series 2007-NC1, Class A2C
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		12/25/46		224,722		111,508
HarborView Mortgage Loan Trust Series 2005-3, Class 1A
4.31% (1 mo. USD Term SOFR + 0.634%) (2)		06/19/35		267,629		133,792
HarborView Mortgage Loan Trust Series 2006-4, Class 1A1A
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		05/19/46		570,210		283,914
HarborView Mortgage Loan Trust Series 2006-5, Class 1A1
4.77% (1 yr. MTA + 0.910%) (2)		07/19/47		304,816		93,023
HSI Asset Loan Obligation Trust Series 2007-2, Class 2A12
6.00%		09/25/37		175,521		120,897
HSI Asset Securitization Corp. Trust Series 2007-OPT1, Class 1A
3.93% (1 mo. USD Term SOFR + 0.254%) (2)		12/25/36		171,691		151,329
Impac CMB Trust Series 2004-6, Class 1A2
4.57% (1 mo. USD Term SOFR + 0.894%) (2)		10/25/34		13,120		13,140
IndyMac INDX Mortgage Loan Trust Series 2005-AR25, Class 2A1
3.76% (3)		12/25/35		177,494		152,385
IndyMac INDX Mortgage Loan Trust Series 2007-AR5, Class 2A1
3.31% (3)		05/25/37		164,680		133,858
IndyMac Manufactured Housing Contract Pass-Through Certificates Series 1997-1, Class A3
6.61%		02/25/28		21,906		21,979
IndyMac Manufactured Housing Contract Pass-Through Certificates Series 1997-1, Class A4
6.75%		02/25/28		9,222		9,255
Knock Issuer Trust Series 2025-1, Class A1
7.12% (1)		02/25/30		150,000		151,364
Long Beach Mortgage Loan Trust Series 2006-9, Class 2A3
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		10/25/36		372,631		113,450
Luminent Mortgage Trust Series 2006-5, Class A1A
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		07/25/36		224,929		134,955
MASTR Adjustable Rate Mortgages Trust Series 2007-1, Class I1A
4.18% (1 mo. USD Term SOFR + 0.504%) (2)		01/25/47		409,416		157,706

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
MASTR Adjustable Rate Mortgages Trust Series 2007-2, Class A1
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		03/25/47	$	163,138	$	152,888
MASTR Alternative Loan Trust Series 2006-2, Class 2A1
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		03/25/36		2,376,996		192,012
MASTR Asset-Backed Securities Trust Series 2007-HE1, Class A3
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		05/25/37		71,278		69,704
MASTR Asset-Backed Securities Trust Series 2007-HE1, Class A4
4.35% (1 mo. USD Term SOFR + 0.674%) (2)		05/25/37		300,000		260,656
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, Class A2B
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		05/25/37		177,659		129,615
Merrill Lynch Mortgage Investors Trust Series 2006-RM2, Class A1A
4.16% (1 mo. USD Term SOFR + 0.484%) (2)		05/25/37		408,960		118,311
Mid-State Capital Corp. Trust Series 2005-1, Class A
5.75%		01/15/40		8,452		8,448
Mid-State Trust XI Series 11, Class B
8.22%		07/15/38		766		772
Morgan Stanley ABS Capital I, Inc. Trust Series 2006-HE4, Class A3
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		06/25/36		538,449		265,539
Morgan Stanley Home Equity Loan Trust Series 2007-1, Class A3
3.93% (1 mo. USD Term SOFR + 0.254%) (2)		12/25/36		543,686		259,005
Morgan Stanley Mortgage Loan Trust Series 2004-7AR, Class 2A4
4.87% (3)		09/25/34		44,544		43,814
Morgan Stanley Mortgage Loan Trust Series 2006-15XS, Class A4A
6.70%		11/25/36		408,898		85,226
Morgan Stanley Mortgage Loan Trust Series 2007-11AR, Class 2A3
2.82% (3)		06/25/37		276,351		156,563
New Residential Mortgage Loan Trust Series 2022-NQM2, Class A2
3.70% (1),(3)		03/27/62		250,000		204,118
Nomura Resecuritization Trust Series 2015-4R, Class 2A2
4.35% (1 mo. USD Term SOFR + 0.420%) (1),(2)		10/26/36		245,471		222,713

See accompanying Notes to Financial Statements.

55

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Option One Mortgage Loan Trust Series 2006-3, Class 1A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		02/25/37	$	158,182	$	104,857
Pretium Mortgage Credit Partners LLC Series 2025-NPL6, Class A1
5.74% (1)		06/25/55		170,816		171,207
PRPM LLC Series 2024-RPL1, Class B1
4.21% (1),(3)		12/25/64		280,000		270,050
RALI Trust Series 2005-QA3, Class NB1
3.67% (3)		03/25/35		100,987		56,353
RALI Trust Series 2006-QS5, Class A6
6.00%		05/25/36		197,392		175,350
RALI Trust Series 2007-QS1, Class 1A5
4.34% (1 mo. USD Term SOFR + 0.664%) (2)		01/25/37		248,339		184,157
Residential Asset Securities Corporation Trust Series 2005-KS11, Class M3
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		12/25/35		127,994		126,994
SG Mortgage Securities Trust Series 2006-OPT2, Class A3D
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		10/25/36		250,000		202,658
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 2A
4.62% (3)		09/25/34		38,433		37,694
Structured Asset Mortgage Investments II Trust Series 2005-AR8, Class A1B
3.96% (1 mo. USD Term SOFR + 0.284%) (2)		02/25/36		246,782		210,253
Structured Asset Mortgage Investments II Trust Series 2006-AR7, Class A1A
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		08/25/36		306,315		258,442
Terwin Mortgage Trust Series 2004-7HE, Class A1
4.89% (1 mo. USD Term SOFR + 1.214%) (1),(2)		07/25/34		41,455		40,831
Towd Point Mortgage Trust Series 2019-HY2, Class M2
5.69% (1 mo. USD Term SOFR + 2.014%) (1),(2)		05/25/58		210,000		210,708
TRK Trust Series 2021-INV2, Class A1
1.97% (1),(3)		11/25/56		168,460		153,289
WaMu Asset-Backed Certificates Trust Series 2007-HE1, Class 2A4
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		01/25/37		479,836		216,743
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $15,906,568)						13,532,910

Issues	Maturity Date		Principal Amount		Value
CORPORATE BONDS — 23.1%
Aerospace & Defense — 0.3%
TransDigm, Inc.
6.00% (1)		01/15/33	$	100,000	$	100,135
6.13% (1)		07/31/34		40,000		39,478
						139,613
Agriculture — 0.4%
Altria Group, Inc.
4.88%		02/04/28		55,000		55,497
BAT Capital Corp. (United Kingdom)
2.73%		03/25/31		25,000		22,847
Imperial Brands Finance PLC (United Kingdom)
4.50% (1)		06/30/28		90,000		90,081
6.13% (1)		07/27/27		70,000		71,426
						239,851
Airlines — 0.3%
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.75% (1)		04/20/29		40,000		39,723
JetBlue Airways Corp./JetBlue Loyalty LP
9.88% (1)		09/20/31		7,000		6,623
JetBlue Pass-Through Trust Series 2020-1, Class A
4.00%		05/15/34		67,282		63,504
United Airlines Pass-Through Trust Series 2023-1, Class A
5.80%		07/15/37		81,957		84,451
						194,301
Banks — 2.3%
Bank of America Corp.
1.73% (1 day USD SOFR + 0.960%) (2)		07/22/27		50,000		49,585
3.42% (3 mo. USD Term SOFR + 1.302%) (2)		12/20/28		35,000		34,388
3.82% (3 mo. USD Term SOFR + 1.837%) (2)		01/20/28		110,000		109,464
4.38% (5 yr. CMT + 2.760%) (2),(8)		01/27/27		15,000		14,779
5.47% (1 day USD SOFR + 1.650%)		01/23/35		75,000		76,538
Citigroup, Inc.
2.52% (1 day USD SOFR + 1.177%) (2)		11/03/32		140,000		123,665
6.63% (5 yr. CMT + 3.001%) (2),(8)		02/15/31		95,000		95,054
Goldman Sachs Group, Inc.
1.54% (1 day USD SOFR + 0.818%) (2)		09/10/27		235,000		231,966
HSBC Holdings PLC (United Kingdom)
2.36% (1 day USD SOFR + 1.947%) (2)		08/18/31		15,000		13,535

See accompanying Notes to Financial Statements.

56

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
JPMorgan Chase & Co.
1.58% (1 day USD SOFR + 0.885%) (2)		04/22/27	$	55,000	$	54,911
2.07% (1 day USD SOFR + 1.015%) (2)		06/01/29		205,000		195,062
Morgan Stanley
1.93% (1 day USD SOFR + 1.020%) (2)		04/28/32		35,000		30,341
2.24% (1 day USD SOFR + 1.178%) (2)		07/21/32		90,000		78,831
Morgan Stanley Private Bank NA
4.47% (1 day USD SOFR + 0.770%) (2)		07/06/28		5,000		5,002
PNC Financial Services Group, Inc.
3.40% (5 yr. CMT + 2.595%) (2),(8)		09/15/26		15,000		14,778
U.S. Bancorp
5.08% (1 day USD SOFR + 1.296%) (2)		05/15/31		50,000		50,722
Wells Fargo & Co.
2.39% (1 day USD SOFR + 2.100%) (2)		06/02/28		45,000		43,928
4.90% (1 day USD SOFR + 2.100%) (2)		07/25/33		100,000		99,582
						1,322,131
Beverages — 0.2%
Becle SAB de CV (Mexico)
2.50% (1)		10/14/31		105,000		89,975
Biotechnology — 0.1%
Amgen, Inc.
4.85%		02/19/36		75,000		73,736
Building Materials — 0.1%
JH North America Holdings, Inc.
6.13% (1)		07/31/32		55,000		54,955
Chemicals — 0.3%
International Flavors & Fragrances, Inc.
1.83% (1)		10/15/27		110,000		105,550
2.30% (1)		11/01/30		66,000		58,769
3.27% (1)		11/15/40		5,000		3,745
						168,064
Commercial Services — 0.8%
Global Payments, Inc.
4.50%		11/15/28		75,000		74,320

Issues	Maturity Date		Principal Amount		Value
Commercial Services (Continued)
Grand Canyon University
5.13%		10/01/28	$	35,000	$	34,809
RAC Bond Co. PLC (United Kingdom)
8.25% (9)		05/06/46		GBP 100,000		139,572
Raven Acquisition Holdings LLC
6.88% (1)		11/15/31		15,000		14,555
Rollins, Inc.
5.25%		02/24/35		100,000		99,864
Upbound Group, Inc.
6.38% (1)		02/15/29		25,000		24,303
VT Topco, Inc.
8.50% (1)		08/15/30		45,000		45,806
						433,229
Computers — 0.4%
Dell International LLC/EMC Corp.
4.50%		02/15/31		25,000		24,685
4.75%		04/01/28		100,000		100,718
5.00%		04/01/30		60,000		60,775
Gartner, Inc.
3.75% (1)		10/01/30		10,000		9,143
NCR Voyix Corp.
5.13% (1)		04/15/29		33,000		31,647
						226,968
Cosmetics/Personal Care — 0.1%
Edgewell Personal Care Co.
5.50% (1)		06/01/28		32,000		31,838
Opal Bidco SAS (France)
6.50% (1)		03/31/32		35,000		35,081
						66,919
Diversified Financial Services — 0.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
5.75%		06/06/28		35,000		35,869
American Express Co. 3.55% (5 yr. CMT +
2.854%) (2),(8)		09/15/26		15,000		14,831
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27		82,000		79,296
3.25% (1)		02/15/27		15,000		14,857
GGAM Finance Ltd. (Ireland)
8.00% (1)		06/15/28		25,000		25,946
Jane Street Group/JSG Finance, Inc.
6.13% (1)		11/01/32		50,000		49,625
						220,424
Electric — 2.0%
Alliant Energy Corp.
5.75% (5 yr. CMT + 2.077%) (2)		04/01/56		130,000		126,408
Alliant Energy Finance LLC
3.60% (1)		03/01/32		55,000		50,878

See accompanying Notes to Financial Statements.

57

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
Alpha Generation LLC
6.25% (1)		01/15/34	$	45,000	$	44,439
American Electric Power Co., Inc.
5.80% (5 yr. CMT + 2.128%) (2)		03/15/56		180,000		177,790
Ausgrid Finance Pty. Ltd. (Australia)
5.95% (9)		12/10/35		AUD 30,000		20,099
CenterPoint Energy, Inc.
5.95% (5 yr. CMT + 2.223%) (2)		04/01/56		75,000		74,205
Dominion Energy, Inc.
6.00% (5 yr. CMT + 2.262%) (2)		02/15/56		90,000		89,427
Electricite de France SA
4.75% (9)		06/17/44		EUR 100,000		114,125
Entergy Corp.
5.88% (5 yr. CMT + 2.179%) (2)		06/15/56		75,000		74,041
Entergy Texas, Inc.
3.45%		12/01/27		150,000		147,969
FirstEnergy Transmission LLC
2.87% (1)		09/15/28		39,000		37,540
Southern Co.
6.00% (5 yr. CMT + 1.993%)		04/01/58		85,000		85,475
Southwestern Electric Power Co.
5.20%		04/01/36		70,000		68,881
Vistra Operations Co. LLC
6.88% (1)		04/15/32		25,000		25,888
						1,137,165
Electrical Components & Equipment — 0.2%
Energizer Holdings, Inc.
6.00% (1)		09/15/33		35,000		32,839
WESCO Distribution, Inc.
5.25% (1)		04/15/31		50,000		49,733
						82,572
Electronics — 0.1%
Amphenol Corp.
4.63%		02/15/36		60,000		58,043
Engineering & Construction — 0.0%
Sydney Airport Finance Co. Pty. Ltd.
5.90% (9)		04/19/34		AUD 10,000		6,769
Entertainment — 0.5%
Caesars Entertainment, Inc.
6.50% (1)		02/15/32		35,000		34,635
Discovery Global Holdings, Inc.
5.05%		03/15/42		3,000		2,006
5.14%		03/15/52		17,000		10,322

Issues	Maturity Date		Principal Amount		Value
Entertainment (Continued)
Great Canadian Gaming Corp./Raptor LLC (Canada)
8.75% (1)		11/15/29	$	17,000	$	16,592
Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)
8.00% (1)		08/01/30		30,000		28,789
Penn Entertainment, Inc.
4.13% (1)		07/01/29		79,000		74,002
Rivers Enterprise Borrower LLC
6.25% (1)		10/15/30		55,000		54,963
Voyager Parent LLC
9.25% (1)		07/01/32		51,000		53,198
						274,507
Environmental Control — 0.1%
GFL Environmental, Inc.
4.00% (1)		08/01/28		30,000		29,213
Food — 0.5%
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings
3.75%		12/01/31		52,000		48,752
6.75%		03/15/34		47,000		51,647
Pilgrim’s Pride Corp.
3.50%		03/01/32		36,000		32,705
4.25%		04/15/31		25,000		23,949
6.25%		07/01/33		32,000		33,450
Post Holdings, Inc.
4.63% (1)		04/15/30		65,000		62,569
Smithfield Foods, Inc.
2.63% (1)		09/13/31		45,000		39,586
						292,658
Gas — 0.6%
AmeriGas Partners LP/AmeriGas Finance Corp.
9.38% (1)		06/01/28		73,000		75,078
9.50% (1)		06/01/30		15,000		15,914
NiSource, Inc.
5.75% (5 yr. CMT + 2.035%) (2)		07/15/56		90,000		88,690
Northwest Natural Holding Co.
7.00% (5 yr. CMT + 2.701%) (2)		09/15/55		130,000		131,404
						311,086
Health Care-Products — 0.3%
Medline Borrower LP
3.88% (1)		04/01/29		175,000		169,447
Health Care-Services — 1.6%
Centene Corp.
3.00%		10/15/30		129,000		113,067

See accompanying Notes to Financial Statements.

58

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Health Care-Services (Continued)
Cigna Group
4.50%		09/15/30	$	130,000	$	129,661
5.25%		01/15/36		15,000		15,042
CommonSpirit Health
2.78%		10/01/30		40,000		36,924
Elevance Health, Inc.
2.55%		03/15/31		25,000		22,564
5.00%		01/15/36		120,000		117,622
Fresenius Medical Care U.S. Finance III, Inc. (Germany)
1.88% (1)		12/01/26		30,000		29,437
HCA, Inc.
5.63%		09/01/28		14,000		14,286
Humana, Inc.
5.55%		05/01/35		50,000		49,494
Kedrion SpA (Italy)
6.50% (1)		09/01/29		70,000		67,556
ModivCare, Inc.
1.00% (1),(4),(10),(11)		10/01/29		161,700		2,426
Molina Healthcare, Inc.
6.25% (1)		01/15/33		13,000		12,613
6.50% (1)		02/15/31		17,000		16,774
Option Care Health, Inc.
4.38% (1)		10/31/29		72,000		69,606
Star Parent, Inc.
9.00% (1)		10/01/30		40,000		41,638
UnitedHealth Group, Inc.
5.63%		07/15/54		130,000		123,899
Universal Health Services, Inc.
1.65%		09/01/26		15,000		14,825
						877,434
Household Products/Wares — 0.1%
Spectrum Brands, Inc.
3.88% (1)		03/15/31		68,000		59,007
Housewares — 0.1%
Central Garden & Pet Co.
4.13%		10/15/30		40,000		37,815
Newell Brands, Inc.
7.38%		04/01/36		30,000		27,720
						65,535
Insurance — 0.5%
Acrisure LLC/Acrisure Finance, Inc.
7.50% (1)		11/06/30		25,000		25,065
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.75% (1)		10/15/27		66,000		66,027
Farmers Exchange Capital II
6.15% (3 mo. USD Term SOFR + 4.006%) (1),(2)		11/01/53		50,000		48,759

Issues	Maturity Date		Principal Amount		Value
Insurance (Continued)
Farmers Insurance Exchange
4.75% (3 mo. USD LIBOR + 3.231%) (1),(2)		11/01/57	$	25,000	$	20,975
7.00% (10 yr. CMT + 3.864%) (1),(2)		10/15/64		30,000		30,334
Marsh & McLennan Cos., Inc.
4.95%		03/15/36		75,000		74,313
						265,473
Internet — 1.3%
Airbnb, Inc.
5.25%		03/16/36		70,000		70,044
Alphabet, Inc.
4.80%		02/15/36		110,000		109,542
5.65%		02/15/56		15,000		14,958
Amazon.com, Inc.
4.88%		03/13/36		40,000		39,644
5.45%		11/20/55		50,000		47,894
5.80%		03/13/56		55,000		54,891
Getty Images, Inc.
10.50% (1)		11/15/30		30,000		27,125
Meta Platforms, Inc.
4.60%		11/15/32		140,000		138,580
4.88%		11/15/35		50,000		49,071
5.63%		11/15/55		80,000		75,037
Snap, Inc.
6.88% (1)		03/01/33		25,000		23,691
6.88% (1)		03/15/34		60,000		56,464
						706,941
Investment Companies — 0.1%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
9.00%		06/15/30		57,000		53,580
10.00% (1)		11/15/29		19,000		18,714
						72,294
Leisure Time — 0.0%
Sabre GLBL, Inc.
10.75% (1)		11/15/29		5,000		4,283
10.75% (1)		03/15/30		5,000		4,181
						8,464
Lodging — 0.4%
Hyatt Hotels Corp.
5.05%		03/30/28		80,000		80,845
Las Vegas Sands Corp.
5.63%		06/15/28		130,000		131,787
						212,632

See accompanying Notes to Financial Statements.

59

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Media — 1.0%
Belo Corp.
7.25%		09/15/27	$	10,000	$	10,302
CCO Holdings LLC/CCO Holdings Capital Corp.
4.25% (1)		02/01/31		50,000		45,551
5.38% (1)		06/01/29		15,000		14,808
7.00% (1)		02/01/33		15,000		15,075
7.38% (1)		02/01/36		35,000		34,854
Charter Communications Operating LLC/Charter Communications Operating Capital
3.50%		06/01/41		40,000		28,097
3.70%		04/01/51		54,000		33,536
6.65%		02/01/34		50,000		52,200
CSC Holdings LLC
5.75% (1)		01/15/30		15,000		5,680
6.50% (1)		02/01/29		92,000		58,804
11.75% (1)		01/31/29		39,000		28,265
DISH DBS Corp.
7.75%		07/01/26		15,000		14,974
DISH Network Corp.
11.75% (1)		11/15/27		39,000		40,203
Midcontinent Communications
8.00% (1)		08/15/32		20,000		18,715
Sinclair Television Group, Inc.
8.13% (1)		02/15/33		40,000		40,800
Sirius XM Radio LLC
5.88% (1)		04/15/32		25,000		24,868
Time Warner Cable LLC
5.50%		09/01/41		44,000		37,894
5.88%		11/15/40		10,000		9,042
Virgin Media O2 Vendor Financing Notes VI DAC
8.50% (1)		03/15/33		31,000		27,050
VZ Secured Financing BV (Netherlands)
5.00% (1)		01/15/32		50,000		43,017
						583,735
Miscellaneous Manufacturers — 0.4%
Dyno Nobel Ltd. (Australia)
5.40%		11/08/32		AUD 50,000		32,901
Eaton Corp.
4.50%		03/06/33		200,000		197,270
						230,171
Office/Business Equipment — 0.1%
Xerox Corp.
10.25% (1)		10/15/30		65,000		50,700
Oil & Gas — 0.2%
Sunoco LP
5.63% (1)		07/15/34		5,000		4,925
7.88% (5 yr. CMT + 4.230%) (1),(2),(8)		09/18/30		95,000		96,940

Issues	Maturity Date		Principal Amount		Value
Oil & Gas (Continued)
Transocean International Ltd.
8.75% (1)		02/15/30	$	17,500	$	18,270
						120,135
Oil & Gas Services — 0.1%
Kodiak Gas Services LLC
6.50% (1)		10/01/33		38,000		38,410
WBI Operating LLC
6.25% (1)		10/15/30		24,000		24,153
						62,563
Packaging & Containers — 0.5%
Amcor Flexibles North America, Inc.
4.80%		03/17/28		90,000		90,595
Ardagh Group SA
9.50% (1)		12/01/30		5,000		5,230
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		25,000		21,032
Berry Global, Inc.
1.65%		01/15/27		5,000		4,897
4.88% (1)		07/15/26		24,000		24,007
5.50%		04/15/28		115,000		117,238
5.65%		01/15/34		20,000		20,462
Sealed Air Corp.
6.50% (1)		07/15/32		15,000		15,863
						299,324
Pharmaceuticals — 1.0%
1261229 BC Ltd.
10.00% (1)		04/15/32		55,000		56,070
Bayer U.S. Finance II LLC (Germany)
4.63% (1)		06/25/38		156,000		139,352
CVS Health Corp.
4.78%		03/25/38		10,000		9,218
5.45%		09/15/35		35,000		35,142
6.75% (5 yr. CMT+ 2.516%)(2)		12/10/54		100,000		101,003
Grifols SA (Spain)
7.50% (9)		05/01/30		EUR 105,000		125,306
Novartis Capital Corp.
4.90%		03/18/36		85,000		84,821
Teva Pharmaceutical Finance Netherlands IV BV (Israel)
5.75%		12/01/30		13,000		13,204
						564,116
Pipelines — 0.5%
Energy Transfer LP
5.50%		06/01/27		3,000		3,030
Global Partners LP/GLP Finance Corp.
8.25% (1)		01/15/32		50,000		51,878

See accompanying Notes to Financial Statements.

60

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Pipelines (Continued)
ITT Holdings LLC
6.50% (1)		08/01/29	$	20,000	$	19,510
NGL Energy Operating LLC/NGL Energy Finance Corp.
8.38% (1)		02/15/32		47,000		48,594
Venture Global LNG, Inc.
9.00% (5 yr. CMT + 5.440%)(1),(2),(8)		09/30/29		63,000		62,773
Venture Global Plaquemines LNG LLC
6.75% (1)		01/15/36		68,000		72,032
						257,817
Real Estate — 0.0%
Vonovia SE (Germany)
5.72% (9)		09/03/35		AUD 40,000		25,900
REIT — 2.0%
American Assets Trust LP
3.38%		02/01/31		30,000		27,068
American Tower Corp.
2.90%		01/15/30		65,000		61,084
4.70%		12/15/32		65,000		63,911
4.90%		03/15/30		65,000		65,564
Americold Realty Operating Partnership LP
5.60%		05/15/32		95,000		93,817
Crown Castle, Inc.
3.80%		02/15/28		160,000		157,819
Equinix Asia Financing Corp. Pte. Ltd. (REIT)
4.40%		03/15/31		65,000		63,702
Extra Space Storage LP
2.40%		10/15/31		50,000		43,802
GLP Capital LP/GLP Financing II, Inc.
4.00%		01/15/31		25,000		23,666
5.75%		06/01/28		25,000		25,413
Healthcare Realty Holdings LP
3.63%		01/15/28		70,000		68,599
Host Hotels & Resorts LP (REIT)
5.70%		06/15/32		20,000		20,519
Hudson Pacific Properties LP
3.25%		01/15/30		11,000		8,934
3.95%		11/01/27		5,000		4,738
4.65%		04/01/29		2,000		1,718
5.95%		02/15/28		47,000		44,645
Invitation Homes Operating Partnership LP
2.00%		08/15/31		60,000		51,465
Iron Mountain, Inc.
6.25% (1)		01/15/33		45,000		44,910
LXP Industrial Trust
2.38%		10/01/31		55,000		47,799
2.70%		09/15/30		35,000		31,946
Phillips Edison Grocery Center Operating Partnership I LP (REIT)
4.75%		03/15/33		50,000		48,782

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Realty Income Corp. (REIT)
4.88%		07/06/30		EUR 100,000	$	120,006
Rexford Industrial Realty LP
2.15%		09/01/31		5,000		4,342
VICI Properties LP/VICI Note Co., Inc.
4.50% (1)		01/15/28		9,000		8,948
VICI Properties LP/VICI Notes Co., Inc.
4.13% (1)		08/15/30		12,000		11,505
						1,144,702
Retail — 0.6%
Asbury Automotive Group, Inc.
4.63% (1)		11/15/29		10,000		9,673
BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc.
9.50% (1)		07/01/32		50,000		45,148
Ferrellgas LP/Ferrellgas Finance Corp.
9.25% (1)		01/15/31		75,000		78,297
FirstCash, Inc.
6.88% (1)		03/01/32		40,000		40,905
Michaels Cos., Inc.
8.50% (1)		03/15/33		45,000		43,878
11.00% (1)		03/15/34		5,000		4,672
Papa John’s International, Inc.
3.88% (1)		09/15/29		35,000		33,417
Staples, Inc.
10.75% (1)		09/01/29		15,000		13,940
Suburban Propane Partners LP/Suburban Energy Finance Corp.
6.50% (1)		12/15/35		50,000		48,717
					318,647
Semiconductors — 0.1%
Foundry JV Holdco LLC
5.50% (1)		01/25/31		20,000		20,449
Intel Corp.
2.00%		08/12/31		55,000		47,657
						68,106
Software — 1.0%
Atlassian Corp.
5.50%		05/15/34		30,000		29,389
Cloud Software Group, Inc.
8.25% (1)		06/30/32		68,000		64,670
Fiserv, Inc.
4.55%		02/15/31		15,000		14,696
5.25%		08/11/35		65,000		63,225
5.45%		03/15/34		35,000		34,832
Open Text Corp.
3.88% (1)		12/01/29		25,000		22,403
Open Text Corp. (Canada)
6.90% (1)		12/01/27		178,000		182,973

See accompanying Notes to Financial Statements.

61

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
Paychex, Inc.
5.35%		04/15/32	$	25,000	$	25,140
Salesforce, Inc.
4.65%		03/15/29		30,000		30,061
5.55%		03/15/36		55,000		54,848
UKG, Inc.
6.88% (1)		02/01/31		25,000		24,528
					546,765
Telecommunications — 1.3%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27		97,000		71,768
Altice France SA
6.50% (1)		04/15/32		16,623		15,731
9.50% (1)		11/01/29		12,397		12,555
EchoStar Corp.
10.75%		11/30/29		21,000		22,702
Global Switch Finance BV (United Kingdom)
1.38% (9)		10/07/30		EUR 100,000		106,402
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
5.15% (1)		03/20/28		210,000		211,082
T-Mobile USA, Inc.
2.55%		02/15/31		78,000		70,897
5.00%		02/15/36		75,000		73,847
Vmed O2 U.K. Financing I PLC (United Kingdom)
4.75% (1)		07/15/31		108,000		93,022
Windstream Services LLC/Windstream Escrow Finance Corp.
8.25% (1)		10/01/31		23,000		24,108
Zayo Group Holdings, Inc. (5.75% Cash or 0.50% PIK) due 3/29/27
9.25% (1)		03/09/30		48,248		47,974
						750,088
Transportation — 0.1%
Aurizon Network Pty. Ltd. (Australia)
2.90% (9)		09/02/30		AUD 80,000		48,256
Pacific National Finance Pty. Ltd. (Australia)
3.70%		09/24/29		AUD 50,000		31,210
						79,466
Water — 0.1%
Yorkshire Water Finance PLC (United Kingdom)
2.75% (9)		04/18/41		GBP 100,000		81,799
Total Corporate Bonds
(Cost: $13,234,128)						13,043,440
MUNICIPAL BONDS — 0.0%
California Health Facilities Financing Authority, Revenue Bonds
3.00%		08/15/51		20,000		14,355
Total Municipal Bonds
(Cost: $15,362)						14,355

Issues	Maturity Date		Principal Amount		Value
FOREIGN GOVERNMENT BONDS — 1.8%
Abu Dhabi Government International Bonds
5.50% (1)		04/30/54	$	90,000	$	86,081
Kuwait International Government Bonds
4.65% (1)		10/09/35		100,000		95,910
New South Wales Treasury Corp.
5.25% (9)		02/24/38		AUD 250,000		163,782
Qatar Government International Bonds
5.10% (1)		04/23/48		75,000		69,066
Queensland Treasury Corp.
5.25% (9)		08/13/38		AUD 85,000		55,309
Treasury Corp. of Victoria
2.00%		11/20/37		AUD 85,000		39,452
U.K. Gilts
4.38% (9)		03/07/28		GBP 370,000		488,075
Total Foreign Government Bonds
(Cost: $1,011,274)						997,675
U.S. TREASURY SECURITIES — 6.8%
U.S. Treasury Notes
3.38%		02/29/28		64,000		63,505
3.88%		03/31/28		3,590,000		3,595,680
3.88%		03/31/31		190,000		189,406
Total U.S. Treasury Securities
(Cost: $3,840,734)						3,848,591
Total Fixed Income Securities
(Cost: $58,599,109)						54,509,626
CONVERTIBLE SECURITIES — 0.0%
CONVERTIBLE CORPORATE BONDS — 0.0%
Commercial Services — 0.0%
Worldline SA (France)
0.00% (4),(9)		07/30/26		EUR 11,104		12,987
Total Convertible Corporate Bonds
(Cost: $11,925)						12,987
Issues			Shares		Value
COMMON STOCK — 0.2%
Health Care-Services — 0.0%
ModivCare, Inc. (12)				2,093		13,604
Packaging & Containers — 0.1%
Ardagh Holdings SA (12)				3,375		24,891
REIT — 0.1%
AGNC Investment Corp.				4,500		45,135
						45,135
Total Common Stock
(Cost: $133,944)						83,630

See accompanying Notes to Financial Statements.

62

TCW MetWest Strategic Income Fund

March 31, 2026

Issues	Shares		Value
INVESTMENT COMPANIES — 1.7%
TCW Private Asset Income Fund — I Class (13)		97,716	$	974,233
Total Investment Companies
(Cost: $977,234)				974,233
MONEY MARKET INVESTMENTS — 15.7%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (14)		350,853		350,853

Issues	Shares		Value
MONEY MARKET INVESTMENTS (Continued)
TCW Central Cash Fund, 3.69% (13),(14)		8,496,289	$	8,496,289
Total Money Market Investments
(Cost: $8,847,142)				8,847,142
Total Investments (114.2%)
(Cost: $68,569,354)				64,427,618
Liabilities In Excess Of Other Assets (-14.2%)			(8,033,538)
Net Assets (100.0%)			$  56,394,080

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
37	5-Year U.S. Treasury Note Futures		06/30/26	$	4,055,817		$	4,002,648		$	(53,169	)
Short Futures
5	10-Year Australian Bond Futures		06/15/26	$	(369,430	)	$	(369,003	)	$	427
33	10-Year U.S. Treasury Note Futures		06/18/26		(3,809,882	)		(3,746,016	)		63,866
8	2-Year U.S. Treasury Note Futures		06/30/26		(1,671,612	)		(1,659,563	)		12,049
5	3-Year Australian Bond Futures		06/15/26		(355,732	)		(354,966	)		766
2	Euro-Bund Futures		06/08/26		(296,516	)		(288,949	)		7,567
1	Long Gilt Futures		06/26/26		(121,701	)		(115,769	)		5,932
17	U.S. Ultra Long Bond Futures		06/18/26		(2,036,327	)		(1,981,563	)		54,764
				$	(8,661,200	)	$	(8,515,829	)	$	145,371

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (15)
JP Morgan Chase Bank		AUD		658,897		04/01/26	$	453,528	$	451,279	$	(2,249	)
Goldman Sachs & Co.		AUD		10,071		04/01/26		6,984		6,897		(87	)
Goldman Sachs & Co.		EUR		541,228		04/01/26		625,280		623,603		(1,677	)
Citibank N.A.		EUR		12,108		04/01/26		14,299		13,951		(348	)
Citibank N.A.		GBP		624,020		04/01/26		830,882		822,894		(7,988	)
Goldman Sachs & Co.		GBP		26,258		04/01/26		36,188		34,626		(1,562	)
							$	1,967,161	$	1,953,250	$	(13,911	)
SELL (16)
JP Morgan Chase Bank		AUD		608,355		04/01/26	$	408,282	$	416,662	$	(8,380	)
Citibank N.A.		AUD		30,183		04/01/26		20,325		20,672		(347	)
Bank of America		AUD		30,430		04/01/26		20,339		20,841		(502	)
JP Morgan Chase Bank		AUD		648,836		06/26/26		445,910		443,824		2,086
Bank of America		EUR		553,336		04/01/26		651,382		637,554		13,828
Goldman Sachs & Co.		EUR		433,783		06/26/26		501,750		501,728		22
JP Morgan Chase Bank		GBP		565,178		04/01/26		760,148		745,300		14,848
Citibank N.A.		GBP		85,100		04/01/26		114,318		112,222		2,096
Citibank N.A.		GBP		624,020		06/26/26		830,607		822,645		7,962
							$	3,753,061	$	3,721,448	$	31,613

See accompanying Notes to Financial Statements.

63

TCW MetWest Strategic Income Fund

Schedule of Investments (Continued)

Centrally Cleared - Interest Rate Swap Agreements
Notional Amount	Expiration Date		Payment Made by Fund Frequency		Payment Made by Fund		Payment Received by Fund Frequency		Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid		Value
GBP 2,953,000		03/20/28		Annual		12 -Month SONIA		Annual		3.93	%	$	(3,614	)	$	16,008	$	(19,622	)

Notes to the Schedule of Investments:

ABS Asset-Backed Securities.

ACES Alternative Credit Enhancement Securities.

AUD Australian Dollar.

CDO Collateralized Debt Obligation.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

GBP British Pound Sterling.

I/F Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates.

I/O Interest Only Security.

LIBOR London Interbank Offered Rate.

PIK Payment In Kind.

REIT Real Estate Investment Trust.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

SONIA Sterling Overnight Index Average.

STACR Structured Agency Credit Risk.

STRIPS Separate Trading of Registered Interest and Principal Securities.

TBA To Be Announced.

USD United States Dollar.

(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 March 31, 2026, the value of these securities amounted to $19,892,068 or 35.3% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(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) This security is a residual or equity position that does not have a stated interest rate. This residual or equity position is entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying securities less contractual payments to debt holders and fund expenses.

(6) For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(7) 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.

(8) Perpetual maturity.

(9) 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 March 31, 2026, the value of these securities amounted to $1,388,381 or 2.5% of net assets.

(10) Restricted security (Note 11).

(11) Security is currently in default due to bankruptcy or failure to make payment of principal or interest by the issuer. Income is not being accrued.

(12) Non-income producing security.

(13) Affiliated issuer.

(14) Rate disclosed is the 7-day net yield as of March 31, 2026.

(15) Fund buys foreign currency, sells USD.

(16) Fund sells foreign currency, buys USD.

See accompanying Notes to Financial Statements.

64

TCW MetWest Strategic Income Fund

March 31, 2026

The summary of the TCW MetWest Strategic Income Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund	$	6,740,188	$	71,195,101	$	69,439,000		8,496,289	$	8,496,289	$	190,641	$	—	$	—	$	—
TCW Private Asset Income Fund — I Class		168,429		808,805		—		97,716		974,233		68,384						(3,001	)
Total									$	9,470,522	$	259,025	$	—	$	—	$	(3,001	)

See accompanying Notes to Financial Statements.

65

TCW MetWest Strategic Income Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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
Residential Mortgage-Backed Securities — Non-Agency	$	—		$	13,532,910		$	—	$	13,532,910
Corporate Bonds		—			13,043,440			—		13,043,440
Residential Mortgage-Backed Securities — Agency		—			10,739,131			—		10,739,131
Commercial Mortgage-Backed Securities — Non-Agency		—			7,011,276			—		7,011,276
Asset-Backed Securities		—			4,874,837			49,693		4,924,530
U.S. Treasury Securities		—			3,848,591			—		3,848,591
Foreign Government Bonds		—			997,675			—		997,675
Commercial Mortgage-Backed Securities — Agency		—			397,718			—		397,718
Municipal Bonds		—			14,355			—		14,355
Total Fixed Income Securities		—			54,459,933			49,693		54,509,626
Convertible Securities
Convertible Corporate Bonds		—			12,987			—		12,987
Equity Securities
Money Market Investments		8,847,142			—			—		8,847,142
Investment Companies		—			974,233			—		974,233
Common Stock		—			83,630			—		83,630
Total Equity Securities		8,847,142			1,057,863			—		9,905,005
Total Investments	$	8,847,142		$	55,530,783		$	49,693	$	64,427,618
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			40,842			—		40,842
Futures Contracts
Interest Rate Risk		145,371			—			—		145,371
Total	$	8,992,513		$	55,571,625		$	49,693	$	64,613,831
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(53,169	)	$	—		$	—	$	(53,169	)
Forward Currency Contracts
Foreign Currency Risk		—			(23,140	)		—		(23,140	)
Swap Agreements
Interest Rate Risk		—			(19,622	)		—		(19,622	)
Total	$	(53,169	)	$	(42,762	)	$	—	$	(95,931	)

See accompanying Notes to Financial Statements.

66

TCW MetWest Sustainable Securitized Fund

Schedule of Investments March 31, 2026

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 110.5% of Net Assets
ASSET-BACKED SECURITIES — 17.3%
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2
1.94% (1)		08/15/46	$	175,000	$	173,229
Allegro CLO X Ltd. Series 2019-1A, Class BRR
5.27% (3 mo. USD Term SOFR + 1.600%) (1),(2)		04/20/32		50,000		50,031
ALLO Issuer LLC Series 2023-1A, Class C
12.18% (1)		06/20/53		100,000		104,111
ALLO Issuer LLC Series 2024-1A, Class B
7.15% (1)		07/20/54		100,000		102,127
ALLO Issuer LLC Series 2024-1A, Class C
11.19% (1)		07/20/54		120,000		126,306
Avis Budget Rental Car Funding AESOP LLC Series 2021-2A, Class D
4.08% (1)		02/20/28		30,000		29,671
Avis Budget Rental Car Funding AESOP LLC Series 2023-3A, Class D
7.32% (1)		02/20/28		100,000		100,820
Bain Capital Credit CLO Ltd. Series 2021-3A, Class BR
5.22% (3 mo. USD Term SOFR + 1.550%) (1),(2)		07/24/34		125,000		124,750
Bayview Opportunity Master Fund VII LLC Series 2024-EDU1, Class D
6.41% (30 day USD SOFR Average + 2.750%) (1),(2)		06/25/47		29,679		30,087
Brazos Education Loan Authority, Inc. Series 2021-2, Class A1A
2.06%		01/25/72		67,482		58,681
CARS-DB4 LP Series 2020-1A, Class A5
3.48% (1)		02/15/50		97,604		96,271
CARS-DB4 LP Series 2020-1A, Class B3
4.95% (1)		02/15/50		100,000		94,374
CARS-DB5 LP Series 2021-1A, Class A1
1.44% (1)		08/15/51		92,054		90,887
CIFC Funding Ltd. Series 2021-7A, Class CR
5.42% (3 mo. USD Term SOFR + 1.750%) (1),(2)		01/23/35		100,000		99,865
CIFC Funding Ltd. Series 2022-1A, Class A
4.99% (3 mo. USD Term SOFR + 1.320%) (1),(2)		04/17/35		50,000		50,026
CyrusOne Data Centers Issuer I LLC Series 2023-1A, Class B
5.45% (1)		04/20/48		42,123		41,663
Diamond Infrastructure Funding LLC Series 2021-1A, Class B
2.36% (1)		04/15/49		100,000		98,078
Dryden 40 Senior Loan Fund Series 2015-40A, Class AR2
4.80% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/15/31		13,727		13,740

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Dryden 68 CLO Ltd. Series 2019-68A, Class CRR
5.47% (3 mo. USD Term SOFR + 1.800%) (1),(2)		07/15/35	$	125,000	$	124,351
Dryden 72 CLO Ltd. Series 2019-72A, Class BRR
5.30% (3 mo. USD Term SOFR + 1.650%) (1),(2)		05/15/32		115,000		115,075
Dryden 75 CLO Ltd. Series 2019-75A, Class CR2
5.73% (3 mo. USD Term SOFR + 2.062%) (1),(2)		04/15/34		125,000		124,382
Dryden 80 CLO Ltd. Series 2019-80A, Class CRR
5.52% (3 mo. USD Term SOFR + 1.850%) (1),(2)		01/17/33		100,000		99,675
Edgeconnex Data Centers Issuer LLC Series 2022-1, Class A2
4.25% (1)		03/25/52		46,708		45,476
GoodLeap Sustainable Home Solutions Trust Series 2022-1GS, Class A
2.70% (1)		01/20/49		61,919		53,352
HPS Loan Management Ltd. Series 2021-16A, Class BR
5.32% (3 mo. USD Term SOFR + 1.650%) (1),(2)		01/23/35		150,000		150,075
JG Wentworth XLII LLC Series 2018-2A, Class B
4.70% (1)		10/15/77		172,611		156,761
JG Wentworth XXXIX LLC Series 2017-2A, Class B
5.09% (1)		09/17/74		195,976		177,178
Lightpath Fiber Issuer LLC Series 2026-1A, Class A2
5.60% (1)		03/25/56		35,000		34,988
LMRK Issuer Co. 2 LLC Series 2025-1A, Class A
5.52% (1)		09/15/55		45,000		44,991
Loanpal Solar Loan Ltd. Series 2021-1GS, Class A
2.29% (1)		01/20/48		117,446		97,475
Madison Park Funding LVII Ltd. Series 2022-57A, Class BR
5.37% (3 mo. USD Term SOFR + 1.700%) (1),(2)		07/27/34		125,000		125,005
Madison Park Funding XXVII Ltd. Series 2018-27A, Class A2R
5.17% (3 mo. USD Term SOFR + 1.500%) (1),(2)		04/20/38		150,000		149,549
Madison Park Funding XXXIX Ltd. Series 2021-39A, Class BR
5.42% (3 mo. USD Term SOFR + 1.750%) (1),(2)		10/22/34		105,000		105,082
Madison Park Funding XXXVI Ltd. Series 2019-36A, Class B1R
5.22% (3 mo. USD Term SOFR + 1.550%) (1),(2)		04/15/35		100,000		99,518
Mosaic Solar Loan Trust Series 2020-2A, Class A
1.44% (1)		08/20/46		34,336		29,059

See accompanying Notes to Financial Statements.

67

TCW MetWest Sustainable Securitized Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Navient Private Education Loan Trust Series 2018-BA, Class A2B
4.51% (1 mo. USD Term SOFR + 0.834%) (1),(2)		12/15/59	$	442	$	442
Navient Private Education Loan Trust Series 2020-A, Class A2B
4.69% (1 mo. USD Term SOFR + 1.014%) (1),(2)		11/15/68		29,663		29,613
Navient Student Loan Trust Series 2017-1A, Class A3
4.93% (30 day USD SOFR Average + 1.264%) (1),(2)		07/26/66		82,454		83,212
Ramsgate DC Holdings U.K. 1 Sarl Series 1A, Class A
5.48% (1)		02/28/56	GBP	100,000		129,116
Rockford Tower CLO Ltd. Series 2020-1A, Class A1RR
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		01/20/36		70,000		69,986
Sixth Street CLO VIII Ltd. Series 2017-8A, Class CR2
6.62% (3 mo. USD Term SOFR + 2.950%) (1),(2)		10/20/34		100,000		97,469
SLM Student Loan Trust Series 2012-2, Class A
4.48% (30 day USD SOFR Average + 0.814%) (2)		01/25/29		26,034		25,447
SoFi Professional Loan Program LLC Series 2021-B, Class AFX
1.14% (1)		02/15/47		25,367		22,777
Stonepeak ABS Series 2021-1A, Class A
2.68% (1)		02/28/33		69,114		67,594
Switch ABS Issuer LLC Series 2024-1A, Class A2
6.28% (1)		03/25/54		75,000		75,734
Switch ABS Issuer LLC Series 2024-1A, Class B
6.50% (1)		03/25/54		100,000		100,118
Symphony CLO XIX Ltd. Series 2018-19A, Class B
5.28% (3 mo. USD Term SOFR + 1.612%) (1),(2)		04/16/31		50,000		50,044
Voya CLO Ltd. Series 2014-4A, Class A2RA
5.53% (3 mo. USD Term SOFR + 1.862%) (1),(2)		07/14/31		50,000		50,056
Voya CLO Ltd. Series 2015-3A, Class BR4
5.47% (3 mo. USD Term SOFR + 1.800%) (1),(2)		10/20/31		125,000		125,110
Total Asset-Backed Securities
(Cost: $4,149,131)						4,143,427
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 44.8%
Federal Home Loan Mortgage Corp., Pool #RA4201
2.00%		12/01/50		77,729		63,279

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp., Pool #SD8160
2.00%		08/01/51	$	44,418	$	36,046
Federal Home Loan Mortgage Corp., Pool #RA6071
2.00%		10/01/51		118,062		96,228
Federal Home Loan Mortgage Corp., Pool #QD1841
2.00%		11/01/51		112,426		91,063
Federal Home Loan Mortgage Corp., Pool #SD7549
2.00%		01/01/52		115,307		94,754
Federal Home Loan Mortgage Corp., Pool #RA5855
2.50%		09/01/51		157,534		133,711
Federal Home Loan Mortgage Corp., Pool #QC8921
2.50%		10/01/51		107,720		92,174
Federal Home Loan Mortgage Corp., Pool #RA6528
2.50%		02/01/52		19,029		16,120
Federal Home Loan Mortgage Corp., Pool #RA7091
2.50%		03/01/52		78,919		66,802
Federal Home Loan Mortgage Corp., Pool #SD8205
2.50%		04/01/52		54,247		45,959
Federal Home Loan Mortgage Corp., Pool #QA7550
3.00%		03/01/50		51,893		46,431
Federal Home Loan Mortgage Corp., Pool #QA8518
3.00%		04/01/50		61,635		55,264
Federal Home Loan Mortgage Corp., Pool #RA5552
3.00%		07/01/51		184,466		164,226
Federal Home Loan Mortgage Corp., Pool #SD8220
3.00%		06/01/52		266,996		235,486
Federal Home Loan Mortgage Corp., Pool #SD8225
3.00%		07/01/52		320,694		282,848
Federal Home Loan Mortgage Corp., Pool #SD5845
3.50%		11/01/52		88,056		80,877
Federal Home Loan Mortgage Corp., Pool #RA7543
4.00%		06/01/52		97,354		92,268
Federal Home Loan Mortgage Corp., Pool #SD8222
4.00%		06/01/52		76,624		72,615
Federal Home Loan Mortgage Corp., Pool #SD8342
5.50%		07/01/53		105,716		106,613
Federal Home Loan Mortgage Corp., Pool #SD8493
5.50%		12/01/54		103,353		104,018
Federal Home Loan Mortgage Corp. REMICS Series 3067, Class FA (PAC)
4.14% (30 day USD SOFR Average + 0.464%) (2)		11/15/35		36,475		36,378
Federal Home Loan Mortgage Corp. REMICS Series 4139, Class DA
1.25%		12/15/27		5,005		4,900
Federal Home Loan Mortgage Corp. REMICS Series 5107, Class LI (I/O)
3.50%		05/15/51		36,017		6,770

See accompanying Notes to Financial Statements.

68

TCW MetWest Sustainable Securitized Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 5473, Class BF
4.96% (30 day USD SOFR Average + 1.300%) (2)		11/25/54	$	150,092	$	151,303
Federal Home Loan Mortgage Corp. REMICS Series 5529, Class DI (I/O)
4.00%		11/25/51		113,270		22,643
Federal Home Loan Mortgage Corp. STRIPS Series 386, Class C1 (I/O)
2.00%		03/15/52		175,070		22,595
Federal National Mortgage Association, Pool #BQ1226
2.00%		09/01/50		107,934		87,970
Federal National Mortgage Association, Pool #FM5254
2.00%		12/01/50		128,124		104,291
Federal National Mortgage Association, Pool #FM6400
2.00%		03/01/51		79,937		65,582
Federal National Mortgage Association, Pool #MA4398
2.00%		08/01/51		139,298		113,255
Federal National Mortgage Association, Pool #FS1334
2.00%		11/01/51		131,077		106,511
Federal National Mortgage Association, Pool #FS1598
2.00%		04/01/52		87,506		70,887
Federal National Mortgage Association, Pool #CB2074
2.50%		11/01/51		132,853		113,095
Federal National Mortgage Association, Pool #AL9266
3.00%		10/01/46		97,752		88,667
Federal National Mortgage Association, Pool #BV8515
3.00%		05/01/52		70,331		62,031
Federal National Mortgage Association, Pool #MA4600
3.50%		05/01/52		94,156		86,648
Federal National Mortgage Association, Pool #MA4654
3.50%		07/01/52		388,155		356,512
Federal National Mortgage Association, Pool #MA4782
3.50%		10/01/52		384,608		353,254
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		56,733		53,765
Federal National Mortgage Association, Pool #BW0000
4.00%		07/01/52		77,234		73,187
Federal National Mortgage Association, Pool #MA4700
4.00%		08/01/52		117,790		111,610
Federal National Mortgage Association, Pool #CB4818
4.00%		10/01/52		46,681		44,166
Federal National Mortgage Association, Pool #MA4783
4.00%		10/01/52		109,271		103,520
Federal National Mortgage Association, Pool #CB4211
4.50%		07/01/52		100,504		97,447
Federal National Mortgage Association, Pool #MA4784
4.50%		10/01/52		75,566		73,245

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #MA5009
5.00%		05/01/53	$	79,916	$	79,095
Federal National Mortgage Association Interest STRIPS Series 426, Class C41 (I/O)
2.00%		03/25/51		136,568		18,339
Federal National Mortgage Association Interest STRIPS Series 426, Class C42 (I/O)
2.00%		11/25/50		95,900		12,889
Federal National Mortgage Association Interest STRIPS Series 427, Class C21 (I/O)
2.00%		03/25/50		289,222		38,555
Federal National Mortgage Association Interest STRIPS Series 434, Class C29 (I/O)
2.00%		10/25/52		209,269		26,795
Federal National Mortgage Association Interest STRIPS Series 436, Class C32 (I/O)
2.00%		10/25/52		169,751		23,045
Federal National Mortgage Association REMICS Series 2019-25, Class PA (PAC)
3.00%		05/25/48		139,802		131,315
Federal National Mortgage Association REMICS Series 2024-69, Class FA
4.91% (30 day USD SOFR Average + 1.250%) (2)		10/25/54		68,738		69,225
Federal National Mortgage Association REMICS Series 2024-84, Class FD
4.81% (30 day USD SOFR Average + 1.150%) (2)		11/25/54		175,371		176,645
Federal National Mortgage Association REMICS Series 2025-13, Class FA
4.96% (30 day USD SOFR Average + 1.300%) (2)		03/25/55		70,176		70,662
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52		280,257		265,601
Government National Mortgage Association, Pool #MA8488
4.00%		12/20/52		260,851		246,999
Government National Mortgage Association, Pool #MA8427
4.50%		11/20/52		103,976		101,316
Government National Mortgage Association, Pool #MA8647
5.00%		02/20/53		97,700		97,444
Government National Mortgage Association, Pool #MA8948
5.50%		06/20/53		209,409		212,699
Government National Mortgage Association, Pool #MA9171
5.50%		09/20/53		136,951		138,936
Government National Mortgage Association, Pool #MA9488
5.50%		02/20/54		192,263		194,954

See accompanying Notes to Financial Statements.

69

TCW MetWest Sustainable Securitized Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2023-113, Class FD
5.02% (30 day USD SOFR Average + 1.350%) (2)		08/20/53	$	39,324	$	39,755
Government National Mortgage Association REMICS Series 2023-134, Class F
4.67% (30 day USD SOFR Average + 1.000%) (2)		08/20/53		57,665		57,982
Government National Mortgage Association REMICS Series 2024-143, Class FB
4.82% (30 day USD SOFR Average + 1.150%) (2)		09/20/54		32,040		32,297
Government National Mortgage Association REMICS Series 2024-144, Class FD
4.82% (30 day USD SOFR Average + 1.150%) (2)		09/20/54		88,437		89,139
Government National Mortgage Association REMICS Series 2024-148, Class AF
4.85% (30 day USD SOFR Average + 1.180%) (2)		09/20/54		88,427		89,220
Government National Mortgage Association REMICS Series 2024-30, Class DF
4.97% (30 day USD SOFR Average + 1.300%) (2)		02/20/54		108,788		109,671
Government National Mortgage Association REMICS Series 2024-84, Class LF
4.72% (30 day USD SOFR Average + 1.050%) (2)		05/20/54		79,260		79,726
Government National Mortgage Association REMICS Series 2024-95, Class FW
4.77% (30 day USD SOFR Average + 1.100%) (2)		06/20/54		79,632		80,127
Government National Mortgage Association REMICS Series 2024-96, Class FL
4.82% (30 day USD SOFR Average + 1.150%) (2)		06/20/54		115,498		116,458

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2024-97, Class FW
4.82% (30 day USD SOFR Average + 1.150%) (2)		06/20/54	$	60,148	$	60,651
Government National Mortgage Association, TBA
2.50% (3)		04/21/56		550,000		473,063
3.50% (3)		07/01/55		900,000		821,355
4.00% (3)		06/01/55		550,000		514,876
4.50% (3)		01/01/56		375,000		361,988
5.00% (3)		01/01/56		575,000		569,262
5.50% (3)		12/01/55		175,000		176,064
Uniform Mortgage-Backed Security, TBA
3.50% (3)		12/01/51		75,000		68,760
4.00% (3)		05/01/55		25,000		23,563
4.00% (3)		05/01/55		100,000		94,344
4.50% (3)		01/01/56		100,000		96,467
5.00% (3)		01/01/56		400,000		394,420
5.50% (3)		12/01/55		75,000		75,355
Total Residential Mortgage-Backed Securities — Agency
(Cost: $10,917,614)						10,716,071
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 30.7%
1211 Avenue of the Americas Trust Series 2015-1211, Class A1A2
3.90% (1)		08/10/35		23,000		22,048
1211 Avenue of the Americas Trust Series 2015-1211, Class B
4.09% (1),(4)		08/10/35		100,000		94,888
1301 Trust Series 2025-1301, Class F
8.10% (1),(4)		08/11/42		100,000		102,286
245 Park Avenue Trust Series 2017-245P, Class C
3.66% (1),(4)		06/05/37		100,000		97,926
245 Park Avenue Trust Series 2017-245P, Class E
3.66% (1),(4)		06/05/37		100,000		96,646
280 Park Avenue Mortgage Trust Series 2017-280P, Class A
4.85% (1 mo. USD Term SOFR + 1.180%) (1),(2)		09/15/34		58,000		57,725
280 Park Avenue Mortgage Trust Series 2017-280P, Class D
5.51% (1 mo. USD Term SOFR + 1.836%) (1),(2)		09/15/34		200,000		197,107
Aventura Mall Trust Series 2018-AVM, Class C
4.11% (1),(4)		07/05/40		90,000		87,602
BAMLL Commercial Mortgage Securities Trust Series 2015-ASTR, Class C
4.25% (1)		07/14/37		100,000		94,927
BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A
4.09% (1),(4)		08/10/38		100,000		97,856

See accompanying Notes to Financial Statements.

70

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March 31, 2026

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
BGME Trust Series 2021-VR, Class C
2.99% (1),(4)		01/10/43	$	100,000	$	76,852
BX Commercial Mortgage Trust Series 2022-AHP, Class D
6.11% (1 mo. USD Term SOFR + 2.440%) (1),(2)		01/17/39		98,392		98,461
BX Commercial Mortgage Trust Series 2024-VLT5, Class C
5.78% (1),(4)		11/13/46		100,000		100,637
BX Trust Series 2022-CLS, Class B
6.30% (1)		10/13/27		100,000		100,095
BX Trust Series 2023-LIFE, Class B
5.39% (1)		02/15/28		100,000		97,657
BX Trust Series 2024-BIO, Class B
5.61% (1 mo. USD Term SOFR + 1.941%) (1),(2)		02/15/41		110,000		109,714
BX Trust Series 2025-VLT6, Class C
5.86% (1 mo. USD Term SOFR + 2.192%) (1),(2)		03/15/42		100,000		99,211
BXP Trust Series 2017-GM, Class C
3.42% (1),(4)		06/13/39		100,000		97,647
Caister Finance DAC Series 1A, Class D
7.64% (1 day GBP SONIA + 3.900%) (1),(2)		08/17/35	GBP	100,000		131,997
Century Plaza Towers Series 2019-CPT, Class A
2.87% (1)		11/13/39		100,000		92,463
CHI Commercial Mortgage Trust Series 2025-110W, Class C
5.84% (1),(4)		12/13/40		220,000		217,288
CHI Commercial Mortgage Trust Series 2025-SFT, Class D
6.84% (1),(4)		04/15/42		100,000		102,215
CONE Trust Series 2024-DFW1, Class A
5.31% (1 mo. USD Term SOFR + 1.642%) (1),(2)		08/15/41		59,000		58,660
CONE Trust Series 2024-DFW1, Class B
5.96% (1 mo. USD Term SOFR + 2.291%) (1),(2)		08/15/41		50,000		49,718
CSMC Trust Series 2019-UVIL, Class E
3.28% (1),(4)		12/15/41		100,000		88,844
DBC Mortgage Trust Series 2025-DBC, Class C
5.72% (1 mo. USD Term SOFR + 2.050%) (1),(2)		11/15/42		200,000		199,677
DBGS Mortgage Trust Series 2021-W52, Class C
6.24% (1 mo. USD Term SOFR + 2.564%) (1),(2)		10/15/39		100,000		99,767
DOLP Trust Series 2021-NYC, Class A
2.96% (1)		05/10/41		100,000		89,838

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Durst Commercial Mortgage Trust Series 2025-151, Class C
5.44% (1),(4)		08/10/42	$	200,000	$	201,740
Grace Trust Series 2020-GRCE, Class A
2.35% (1)		12/10/40		100,000		89,436
Hudson Yards Mortgage Trust Series 2019-30HY, Class D
3.44% (1),(4)		07/10/39		100,000		92,315
Hudson Yards Mortgage Trust Series 2019-55HY, Class F
2.94% (1),(4)		12/10/41		100,000		86,123
Hudson Yards Mortgage Trust Series 2025-SPRL, Class F
7.40% (1),(4)		01/13/40		100,000		100,230
JPMorgan Chase Commercial Mortgage Securities Trust Series 2025-BMS, Class D
6.82% (1 mo. USD Term SOFR + 3.150%) (1),(2)		01/15/42		109,000		108,735
KREST Commercial Mortgage Securities Trust Series 2021-CHIP, Class C
2.93% (1),(4)		11/05/44		125,000		87,916
LEX Trust Series 2026-450, Class C
5.52% (1 mo. USD Term SOFR + 1.850%) (1),(2)		03/15/43		240,000		238,603
Life Mortgage Trust Series 2021-BMR, Class C
4.89% (1 mo. USD Term SOFR + 1.214%) (1),(2)		03/15/38		10,680		10,585
Manhattan West Mortgage Trust Series 2020-1MW, Class D
2.34% (1),(4)		09/10/39		50,000		47,693
MFT Mortgage Trust Series 2020-B6, Class B
3.28% (1),(4)		08/10/40		150,000		112,822
MKT Mortgage Trust Series 2020-525M, Class D
2.94% (1),(4)		02/12/40		100,000		81,775
Morgan Stanley Capital I Trust Series 2021-PLZA, Class A
2.57% (1)		11/09/43		110,000		93,730
Morgan Stanley Capital I Trust Series 2021-PLZA, Class B
2.81% (1),(4)		11/09/43		150,000		129,359
NY Commercial Mortgage Trust Series 2025-299P, Class C
6.17% (1),(4)		02/10/47		44,000		44,932
NYC Commercial Mortgage Trust Series 2021-909, Class A
2.94% (1)		04/10/43		100,000		86,788
NYC Commercial Mortgage Trust Series 2021-909, Class C
3.21% (1),(4)		04/10/43		100,000		81,519
NYC Commercial Mortgage Trust Series 2025-1155, Class A
5.83% (1)		06/10/42		131,000		132,707
NYC Commercial Mortgage Trust Series 2025-1155, Class C
6.81% (1)		06/10/42		100,000		101,926
NYC Commercial Mortgage Trust Series 2026-1PARK, Class C
5.53% (1 mo. USD Term SOFR + 1.850%) (1),(2)		02/15/43		250,000		249,445

See accompanying Notes to Financial Statements.

71

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
NYCT Trust Series 2024-3ELV, Class C
6.51% (1 mo. USD Term SOFR + 2.840%) (1),(2)		08/15/29	$	100,000	$	100,297
NYCT Trust Series 2024-3ELV, Class D
7.51% (1 mo. USD Term SOFR + 3.838%) (1),(2)		08/15/29		100,000		100,242
NYO Commercial Mortgage Trust Series 2021-1290, Class B
5.33% (1 mo. USD Term SOFR + 1.659%) (1),(2)		12/15/38		110,000		109,591
NYO Commercial Mortgage Trust Series 2021-1290, Class C
5.78% (1 mo. USD Term SOFR + 2.109%) (1),(2)		11/15/38		140,000		138,487
NYO Commercial Mortgage Trust Series 2021-1290, Class D
6.33% (1 mo. USD Term SOFR + 2.659%) (1),(2)		11/15/38		150,000		148,824
One New York Plaza Trust Series 2020-1NYP, Class A
4.74% (1 mo. USD Term SOFR + 1.064%) (1),(2)		01/15/36		103,830		100,293
One New York Plaza Trust Series 2020-1NYP, Class AJ
5.04% (1 mo. USD Term SOFR + 1.364%) (1),(2)		01/15/36		150,000		141,966
Progress Residential Trust Series 2021-SFR3, Class E1
2.54% (1)		05/17/26		40,000		39,841
RIDE Series 2025-SHRE, Class D
6.30% (1),(4)		02/14/47		100,000		102,136
SFO Commercial Mortgage Trust Series 2021-555, Class B
5.29% (1 mo. USD Term SOFR + 1.614%) (1),(2)		05/15/38		100,000		99,853
Shops at Crystals Trust Series 2016-CSTL, Class C
3.73% (1),(4)		07/05/36		50,000		49,869
SLG Office Trust Series 2021-OVA, Class C
2.85% (1)		07/15/41		140,000		123,871
SWCH Commercial Mortgage Trust Series 2025-DATA, Class B
5.51% (1 mo. USD Term SOFR + 1.842%) (1),(2)		02/15/42		100,000		98,783
SWCH Commercial Mortgage Trust Series 2025-DATA, Class C
5.76% (1 mo. USD Term SOFR + 2.092%) (1),(2)		02/15/42		25,000		24,662
SWCH Commercial Mortgage Trust Series 2025-DATA, Class E
7.01% (1 mo. USD Term SOFR + 3.340%) (1),(2)		02/15/42		160,000		157,640

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
TEXAS Commercial Mortgage Trust Series 2025-TWR, Class B
5.27% (1 mo. USD Term SOFR + 1.593%) (1),(2)		04/15/42	$	100,000	$	99,530
TEXAS Commercial Mortgage Trust Series 2025-TWR, Class D
6.76% (1 mo. USD Term SOFR + 3.091%) (1),(2)		04/15/42		100,000		100,155
U.K. Logistics DAC Series 2025-1X, Class C
6.25% (1 day GBP SONIA + 2.500%) (2),(5)		05/17/35	GBP	71,788		94,608
Vita Scientia DAC Series 2022-1X, Class C
4.06% (3 mo. EUR EURIBOR + 2.050%) (2),(5)		02/27/33	EUR	100,000	$	115,246
VTR Commercial Mortgage Trust Series 2025-STEM, Class C
5.47% (1),(4)		10/13/39		100,000		98,811
Wells Fargo Commercial Mortgage Trust Series 2024-SVEN, Class C
6.32% (1),(4)		06/10/37		50,000		50,860
Wells Fargo Commercial Mortgage Trust Series 2025-609M, Class C
6.01% (1 mo. USD Term SOFR + 2.341%) (1),(2)		08/15/42		100,000		99,529
Wells Fargo Commercial Mortgage Trust Series 2026-1250B, Class D
6.59% (1),(4)		03/10/41		100,000		99,212
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $7,316,806)						7,332,437
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 1.2%
Federal Home Loan Mortgage Corp. Multifamily ML Certificates Series 2021-ML12, Class X
1.23% (1),(4)		07/25/41		1,044,050		89,538
Government National Mortgage Association Series 2020-184 (I/O)
0.91% (4)		11/16/60		790,147		52,887
Government National Mortgage Association Series 2021-17 (I/O)
1.05% (4)		01/16/61		666,681		51,731
Government National Mortgage Association Series 2021-36 (I/O)
1.28% (4)		03/16/63		562,242		45,385
Government National Mortgage Association Series 2023-127 (I/O)
0.40% (4)		07/16/57		2,334,327		39,715
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $284,955)						279,256
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 12.1%
Ajax Mortgage Loan Trust Series 2021-G, Class A
5.88% (1),(4)		06/25/61		43,594		43,644

See accompanying Notes to Financial Statements.

72

TCW MetWest Sustainable Securitized Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
BINOM Securitization Trust Series 2022-RPL1, Class M1
3.00% (1),(4)		02/25/61	$	50,000	$	40,917
Cascade MH Asset Trust Series 2019-MH1, Class A
4.00% (1),(4)		11/25/44		31,417		30,228
Cascade MH Asset Trust Series 2021-MH1, Class A1
1.75% (1)		02/25/46		47,794		43,689
Cascade MH Asset Trust Series 2022-MH1, Class A
4.25% (1)		08/25/54		78,850		77,286
CIM Trust Series 2020-R6, Class A1A
2.25% (1),(4)		12/25/60		38,525		35,322
CIM Trust Series 2021-R3, Class A1A
1.95% (1),(4)		06/25/57		94,419		87,859
CIM Trust Series 2021-R5, Class A1A
2.00% (1),(4)		08/25/61		71,297		64,060
CSMC Trust Series 2020-RPL4, Class A1
2.00% (1),(4)		01/25/60		45,952		41,516
CSMC Trust Series 2021-RPL3, Class M3
4.01% (1),(4)		01/25/60		90,000		70,461
CSMC Trust Series 2021-RPL4, Class A1
4.15% (1),(4)		12/27/60		55,271		55,118
CSMCM Trust Series 2021-RP11, Class CERT
3.78% (1)		10/27/61		64,335		50,433
GoodLeap Home Improvement Solutions Trust Series 2024-1A, Class A
5.35% (1)		10/20/46		70,649		71,274
GoodLeap Home Improvement Solutions Trust Series 2025-2A, Class C
8.16% (1)		06/20/49		43,022		43,642
JPMorgan Mortgage Trust Series 2025-CES2, Class M1
6.24% (1)		06/25/55		100,000		100,431
Legacy Mortgage Asset Trust Series 2021-GS2, Class A1
5.75% (1)		04/25/61		269,111		269,783
Legacy Mortgage Asset Trust Series 2021-GS3, Class A1
5.75% (1)		07/25/61		133,660		133,802
Legacy Mortgage Asset Trust Series 2021-GS4, Class A1
5.65% (1)		11/25/60		41,125		41,182
Legacy Mortgage Asset Trust Series 2021-GS5, Class A1
6.25% (1)		07/25/67		132,902		133,097
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, Class A2B
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		05/25/37		11,167		8,147
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-3, Class A2D
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		06/25/37		39,980		40,242
MFA Trust Series 2023-INV2, Class B1
7.96% (1),(4)		10/25/58		30,000		30,121

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
PRKCM Trust Series 2021-AFC1, Class A1
1.51% (1),(4)		08/25/56	$	28,074	$	24,201
PRPM LLC Series 2024-RPL1, Class A3
4.21% (1),(4)		12/25/64		150,000		147,330
PRPM LLC Series 2025-RPL2, Class M1
3.75% (1)		04/25/55		110,000		105,580
PRPM LLC Series 2025-RPL3, Class M2
3.25% (1)		04/25/55		180,000		166,711
Soundview Home Loan Trust Series 2007-OPT2, Class 2A4
4.04% (1 mo. USD Term SOFR + 0.364%) (2)		07/25/37		118,537		100,296
Towd Point Mortgage Trust Series 2015-1, Class B1
4.53% (1),(4)		10/25/53		45,000		43,041
Towd Point Mortgage Trust Series 2019-2, Class M1
3.75% (1),(4)		12/25/58		100,000		86,632
Towd Point Mortgage Trust Series 2019-HY2, Class M2
5.69% (1 mo. USD Term SOFR + 2.014%) (1),(2)		05/25/58		210,000		210,709
Towd Point Mortgage Trust Series 2020-MH1, Class A1
2.25% (1),(4)		02/25/60		95,787		94,434
Towd Point Mortgage Trust Series 2020-MH1, Class A1A
2.18% (1),(4)		02/25/60		46,622		45,950
Towd Point Mortgage Trust Series 2020-MH1, Class M2A
2.75% (1),(4)		02/25/60		125,000		118,432
Verus Securitization Trust Series 2024-INV2, Class B1
6.93% (1)		08/26/69		100,000		100,661
Verus Securitization Trust Series 2025-1, Class B1
7.01% (1),(4)		01/25/70		24,000		24,269
Verus Securitization Trust Series 2025-3, Class B1
7.49% (1),(4)		05/25/70		100,000		101,184
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $2,805,220)						2,881,684
U.S. TREASURY SECURITIES — 4.4%
U.S. Treasury Bonds
4.75%		02/15/56		13,000		12,677
U.S. Treasury Notes
3.38%		02/29/28		5,000		4,961
3.88%		03/31/28		330,000		330,522
3.88%		03/31/31		295,000		294,078
4.13%		02/15/36		410,000		403,626
Total U.S. Treasury Securities
(Cost: $1,048,407)						1,045,864
Total Fixed Income Securities
(Cost: $26,522,133)						26,398,739

See accompanying Notes to Financial Statements.

73

TCW MetWest Sustainable Securitized Fund

Schedule of Investments (Continued)

Issues	Shares		Value
MONEY MARKET INVESTMENTS — 5.7%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (6)		148,740	$	148,740
TCW Central Cash Fund, 3.69% (6),(7)		1,224,353		1,224,353
Total Money Market Investments
(Cost: $1,373,093)				1,373,093
Total Investments (116.2%)
(Cost: $27,895,226)				27,771,832
Liabilities In Excess Of Other Assets (-16.2%)			(3,868,403)
Net Assets (100.0%)			$	23,903,429

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
7	2-Year U.S. Treasury Note Futures		06/30/26	$	1,462,933		$	1,452,117		$	(10,816	)
31	10-Year U.S. Treasury Note Futures		06/18/26		3,591,436			3,518,984			(72,452	)
4	U.S. Ultra Long Bond Futures		06/18/26		479,008			466,250			(12,758	)
				$	5,533,377		$	5,437,351		$	(96,026	)
Short Futures
3	5-Year U.S. Treasury Note Futures		06/30/26	$	(328,308	)	$	(324,539	)	$	3,769
1	Long Gilt Futures		06/26/26		(121,926	)		(115,769	)		6,157
				$	(450,234	)	$	(440,308	)	$	9,926

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (8)
Goldman Sachs & Co.		EUR		100,156		04/01/26	$	115,389	$	115,399	$	10
Bank of New York		GBP		118,761		04/01/26		160,121		156,610		(3,511	)
Citibank N.A.		GBP		380,279		04/01/26		508,114		501,474		(6,640	)
							$	783,624	$	773,483	$	(10,141	)
SELL (9)
Bank of America		EUR		100,156		04/01/26	$	117,902	$	115,399	$	2,503
Goldman Sachs & Co.		EUR		100,156		06/26/26		115,848		115,843		5
Citibank N.A.		GBP		100,000		04/01/26		134,965		131,871		3,094
Bank of New York		GBP		399,040		04/01/26		539,818		526,214		13,604
Citibank N.A.		GBP		277,558		06/26/26		369,447		365,905		3,542
							$	1,277,980	$	1,255,232	$	22,748

See accompanying Notes to Financial Statements.

74

TCW MetWest Sustainable Securitized Fund

March 31, 2026

Notes to the Schedule of Investments:

ABS Asset-Backed Securities.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

GBP British Pound Sterling.

I/O Interest Only Security.

PAC Planned Amortization Class.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

STRIPS Separate Trading of Registered Interest and Principal Securities.

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 March 31, 2026, the value of these securities amounted to $14,004,419 or 58.6% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) 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.

(4) 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.

(5) 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 March 31, 2026, the value of these securities amounted to $209,854 or 0.9% of net assets.

(6) Rate disclosed is the 7-day net yield as of March 31, 2026.

(7) Affiliated issuer.

(8) Fund buys foreign currency, sells USD.

(9) Fund sells foreign currency, buys USD.

The summary of the TCW MetWest Sustainable Securitized Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund
	$	1,172	$	25,083,181	$	23,860,000		1,224,353	$	1,224,353	$	47,940	$	—	$	—	$	—
Total									$	1,224,353	$	47,940	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

75

TCW MetWest Sustainable Securitized Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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
Residential Mortgage-Backed Securities — Agency	$	—		$	10,716,071		$	—	$	10,716,071
Commercial Mortgage-Backed Securities — Non-Agency		—			7,332,437			—		7,332,437
Asset-Backed Securities		—			4,143,427			—		4,143,427
Residential Mortgage-Backed Securities — Non-Agency		—			2,881,684			—		2,881,684
U.S. Treasury Securities		—			1,045,864			—		1,045,864
Commercial Mortgage-Backed Securities — Agency		—			279,256			—		279,256
Total Fixed Income Securities		—			26,398,739			—		26,398,739
Equity Securities
Money Market Investments		1,373,093			—			—		1,373,093
Total Investments	$	1,373,093		$	26,398,739		$	—	$	27,771,832
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			22,758			—		22,758
Futures Contracts
Interest Rate Risk		9,926			—			—		9,926
Total	$	1,383,019		$	26,421,497		$	—	$	27,804,516
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(96,026	)	$	—		$	—	$	(96,026	)
Forward Currency Contracts
Foreign Currency Risk		—			(10,151	)		—		(10,151	)
Total	$	(96,026	)	$	(10,151	)	$	—	$	(106,177	)

See accompanying Notes to Financial Statements.

76

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments March 31, 2026

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 100.4% of Net Assets
ASSET-BACKED SECURITIES — 4.9%
522 Funding CLO Ltd. Series 2019-5A, Class AR2
4.68% (3 mo. USD Term SOFR + 1.020%) (1),(2)		04/15/35	$	28,000,000	$	27,973,960
AGL CLO 14 Ltd. Series 2021-14A, Class AR
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		12/02/34		17,080,000		17,073,851
AGL CLO 17 Ltd. Series 2022-17A, Class AR
4.62% (3 mo. USD Term SOFR + 0.950%) (1),(2)		01/21/35		10,375,000		10,357,477
ARES LX CLO Ltd. Series 2021-60A, Class AR2
4.63% (3 mo. USD Term SOFR + 0.960%) (1),(2)		07/18/34		25,000,000		24,946,300
ARES LXV CLO Ltd. Series 2022-65A, Class A1R
4.79% (3 mo. USD Term SOFR + 1.120%) (1),(2)		07/25/34		30,000,000		29,977,500
Bain Capital Credit CLO Ltd. Series 2020-2A, Class AR3
4.65% (3 mo. USD Term SOFR + 0.980%) (1),(2)		07/19/34		30,000,000		29,985,270
Bain Capital Credit CLO Ltd. Series 2021-4A, Class A1RR
4.67% (3 mo. USD Term SOFR + 1.000%) (1),(2)		10/20/34		35,755,000		35,700,724
Ballyrock CLO 20 Ltd. Series 2022-20A, Class A1A3
4.72% (3 mo. USD Term SOFR + 1.050%) (1),(2)		10/15/36		30,000,000		29,955,300
Barings CLO Ltd. Series 2021-3A, Class AR
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		01/18/35		19,500,000		19,487,539
BCRED MML CLO LLC Series 2022-1A, Class A1
5.32% (3 mo. USD Term SOFR + 1.650%) (1),(2)		04/20/35		48,400,000		48,419,602
Beechwood Park CLO Ltd. Series 2019-1A, Class A1RR
4.74% (3 mo. USD Term SOFR + 1.070%) (1),(2)		01/17/35		14,915,000		14,896,162

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Boyce Park CLO Ltd. Series 2022-1A, Class A1R
4.67% (3 mo. USD Term SOFR + 1.000%) (1),(2)		04/21/35	$	14,275,000	$	14,241,197
Carvana Auto Receivables Trust Series 2021-N1, Class R
0.00% (1),(3)		01/10/28		53,821		5,321,171
Carvana Auto Receivables Trust Series 2021-P4, Class R
0.00% (1),(3)		09/11/28		43,250		4,516,809
Carvana Auto Receivables Trust Series 2023-N1, Class R
0.00% (1),(3)		04/10/30		30,000		5,815,465
Carvana Auto Receivables Trust Series 2023-N1, Class XS
0.00% (1),(4)		04/10/30		165,187,071		1,596,533
Carvana Auto Receivables Trust Series 2023-N3, Class R
0.00% (1),(3)		09/10/30		30,900		5,569,572
Castlelake Aircraft Structured Trust Series 2025-3A, Class A
5.09% (1)		11/15/50		6,742,902		6,667,788
CIFC Funding Ltd. Series 2017-4A, Class A2R
5.48% (3 mo. USD Term SOFR + 1.812%) (1),(2)		10/24/30		3,475,000		3,476,786
CIFC Funding Ltd. Series 2021-6A, Class B
5.58% (3 mo. USD Term SOFR + 1.912%) (1),(2)		10/15/34		20,000,000		20,023,520
CIFC Funding Ltd. Series 2022-1A, Class A
4.99% (3 mo. USD Term SOFR + 1.320%) (1),(2)		04/17/35		25,000,000		25,013,100
CIFC Funding Ltd. Series 2022-2A, Class A1R
4.64% (3 mo. USD Term SOFR + 0.970%) (1),(2)		04/19/35		17,000,000		16,953,539
CIT Education Loan Trust Series 2007-1, Class B
4.25% (90 day USD SOFR Average + 0.562%) (1),(2)		06/25/42		4,591,452		4,269,791
Clover CLO LLC Series 2021-3A, Class AR
4.74% (3 mo. USD Term SOFR + 1.070%) (1),(2)		01/25/35		24,850,000		24,787,875
Dryden 40 Senior Loan Fund Series 2015-40A, Class AR2
4.80% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/15/31		4,742,107		4,746,707

See accompanying Notes to Financial Statements.

77

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Dryden 43 Senior Loan Fund Series 2016-43A, Class AR3
4.74% (3 mo. USD Term SOFR + 1.070%) (1),(2)		04/20/34	$	17,600,000	$	17,598,944
Dryden 65 CLO Ltd. Series 2018-65A, Class B
5.53% (3 mo. USD Term SOFR + 1.862%) (1),(2)		07/18/30		3,500,000		3,504,165
Dryden 68 CLO Ltd. Series 2019-68A, Class ARR
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		07/15/35		15,850,000		15,850,079
Dryden 86 CLO Ltd. Series 2020-86A, Class A1R2
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		07/17/34		22,000,000		22,011,000
Dryden 98 CLO Ltd. Series 2022-98A, Class AR
4.70% (3 mo. USD Term SOFR + 1.020%) (1),(2)		04/20/35		29,330,000		29,329,531
Goal Capital Funding Trust Series 2006-1, Class B
5.30% (3 mo. USD LIBOR + 0.450%) (2)		08/25/42		778,475		757,919
Golub Capital Partners CLO 50B-R Ltd. Series 2020-50A, Class A1R2
4.78% (3 mo. USD Term SOFR + 1.110%) (1),(2)		04/20/35		14,850,000		14,836,694
HPS Loan Management Ltd. Series 10A-16, Class A1R3
4.79% (3 mo. USD Term SOFR + 1.120%) (1),(2)		04/20/34		13,500,000		13,498,812
HPS Loan Management Ltd. Series 2021-16A, Class BR
5.32% (3 mo. USD Term SOFR + 1.650%) (1),(2)		01/23/35		17,750,000		17,758,875
Invesco CLO Ltd. Series 2022-2A, Class A1R
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		07/20/35		23,000,000		22,997,838
JGWPT XXX LLC Series 2013-3A, Class A
4.08% (1)		01/17/73		384,896		367,637
JGWPT XXXII LLC Series 2014-2A, Class A
3.61% (1)		01/17/73		24,594,530		22,394,459

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
LCM 41 Ltd. Series 41A, Class A1R
4.87% (3 mo. USD Term SOFR + 1.200%) (1),(2)		04/15/36	$	15,000,000	$	14,985,270
LCM Loan Income Fund I Ltd. Series 1A, Class B
5.38% (3 mo. USD Term SOFR + 1.712%) (1),(2)		04/20/31		7,042,298		7,045,988
Lehman XS Trust Series 2006-13, Class 1A2
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		09/25/36		30,517		—
Madison Park Funding XLIX Ltd. Series 2021-49A, Class AR
4.72% (3 mo. USD Term SOFR + 1.050%) (1),(2)		10/19/34		40,000,000		39,986,680
Madison Park Funding XLVI Ltd. Series 2020-46A, Class B1R
5.17% (3 mo. USD Term SOFR + 1.500%) (1),(2)		10/15/34		33,270,000		33,143,408
Madison Park Funding XXVII Ltd. Series 2018-27A, Class A2R
5.17% (3 mo. USD Term SOFR + 1.500%) (1),(2)		04/20/38		32,300,000		32,202,842
Madison Park Funding XXXVI Ltd. Series 2019-36A, Class B1R
5.22% (3 mo. USD Term SOFR + 1.550%) (1),(2)		04/15/35		13,350,000		13,285,613
Magnetite XXIII Ltd. Series 2019-23A, Class AR2
4.64% (3 mo. USD Term SOFR + 0.990%) (1),(2)		01/25/35		25,000,000		24,955,150
Marino Park CLO DAC Series 1A, Class BRR
3.67% (3 mo. EUR EURIBOR + 1.700%) (1),(2)		04/16/39	EUR	13,135,000		15,070,127
NCFA LLC
2.75% (5)		06/12/28		11,660,366		11,660,366
Neuberger Berman Loan Advisers CLO 43Ltd. Series 2021-43A, Class AR
4.72% (3 mo. USD Term SOFR + 1.050%) (1),(2)		07/17/36		35,000,000		34,998,075

See accompanying Notes to Financial Statements.

78

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Neuberger Berman Loan Advisers CLO 50 Ltd. Series 2022-50A, Class AR2
4.70% (3 mo. USD Term SOFR + 1.040%) (1),(2)		07/23/36	$	20,000,000	$	19,962,940
Neuberger Berman Loan Advisers CLO 50 Ltd. Series 2022-50A, Class BR2
5.01% (3 mo. USD Term SOFR + 1.350%) (1),(2)		07/23/36		2,500,000		2,477,055
Neuberger Berman Loan Advisers CLO 51 Ltd. Series 2022-51A, Class AR2
4.67% (3 mo. USD Term SOFR + 1.000%) (1),(2)		10/23/36		10,050,000		10,052,161
Octagon 64 Ltd. Series 2022-1A, Class B1R
5.37% (3 mo. USD Term SOFR + 1.700%) (1),(2)		07/21/37		18,250,000		18,234,268
Octagon Investment Partners 41 Ltd. Series 2019-2A, Class A1R
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		10/15/33		30,000,000		29,959,350
Octagon Investment Partners 49 Ltd. Series 2020-5A, Class BRR
5.22% (3 mo. USD Term SOFR + 1.550%) (1),(2)		04/15/37		13,150,000		13,037,199
Octagon Investment Partners 51 Ltd. Series 2021-1A, Class AR
4.66% (3 mo. USD Term SOFR + 0.990%) (1),(2)		07/20/34		30,700,000		30,633,074
Palmer Square CLO Ltd. Series 2018-1A, Class A1R
5.19% (3 mo. USD Term SOFR + 1.520%) (1),(2)		04/18/37		22,000,000		22,001,430
Palmer Square Loan Funding Ltd. Series 2024-3A, Class A2R
4.81% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/08/32		7,000,000		6,995,569
Providus CLO V DAC Series 5A, Class BR
3.78% (3 mo. EUR EURIBOR + 1.800%) (1),(2)		11/15/39	EUR	8,500,000		9,761,399

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Rad CLO 18 Ltd. Series 2023-18A, Class A1R
5.07% (3 mo. USD Term SOFR + 1.400%) (1),(2)		07/15/37	$	22,150,000	$	22,177,687
Rad CLO 21 Ltd. Series 2023-21A, Class A1R
4.74% (3 mo. USD Term SOFR + 1.070%) (1),(2)		01/25/37		16,050,000		16,009,875
Rockford Tower CLO Ltd. Series 2017-3A, Class A
5.12% (3 mo. USD Term SOFR + 1.452%) (1),(2)		10/20/30		561		561
Rockford Tower CLO Ltd. Series 2020-1A, Class A1RR
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		01/20/36		22,730,000		22,725,590
RR 26 Ltd. Series 2023-26A, Class A1R
4.79% (3 mo. USD Term SOFR + 1.120%) (1),(2)		04/15/38		34,500,000		34,439,935
Skyline Aviation, Inc. Class A
3.23% (5)		07/03/38		22,571,649		21,328,402
SLC Student Loan Trust Series 2004-1, Class B
4.34% (90 day USD SOFR Average + 0.552%) (2)		08/15/31		160,966		142,173
SLM Student Loan Trust Series 2003-12, Class B
4.54% (90 day USD SOFR Average + 0.852%) (2)		12/15/68		22,283		21,537
SLM Student Loan Trust Series 2006-2, Class A6
4.32% (90 day USD SOFR Average + 0.432%) (2)		01/25/41		14,875,581		14,445,534
SLM Student Loan Trust Series 2006-8, Class A6
4.31% (90 day USD SOFR Average + 0.422%) (2)		01/25/41		16,051,505		15,586,554
SLM Student Loan Trust Series 2007-1, Class A6
4.29% (90 day USD SOFR Average + 0.402%) (2)		01/27/42		15,999,911		15,512,234

See accompanying Notes to Financial Statements.

79

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
SLM Student Loan Trust Series 2007-1, Class B
4.37% (90 day USD SOFR Average + 0.482%) (2)		01/27/42	$	1,870,233	$	1,741,467
SLM Student Loan Trust Series 2007-6, Class B
5.00% (90 day USD SOFR Average + 1.112%) (2)		04/27/43		2,331,360		2,208,885
SLM Student Loan Trust Series 2007-7, Class A4
4.48% (90 day USD SOFR Average + 0.592%) (2)		01/25/49		73,983		73,195
SLM Student Loan Trust Series 2008-2, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		01/25/83		38,874,000		41,434,102
SLM Student Loan Trust Series 2008-3, Class A3
5.15% (90 day USD SOFR Average + 1.262%) (2)		10/25/21		4,739		4,729
SLM Student Loan Trust Series 2008-3, Class B
5.35% (90 day USD SOFR Average + 1.462%) (2)		04/26/83		2,260,000		2,352,736
SLM Student Loan Trust Series 2008-4, Class A4
5.80% (90 day USD SOFR Average + 1.912%) (2)		07/25/22		535,735		537,163
SLM Student Loan Trust Series 2008-4, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		04/25/73		8,849,000		9,395,525
SLM Student Loan Trust Series 2008-5, Class A4
5.85% (90 day USD SOFR Average + 1.962%) (2)		07/25/23		6,300,650		6,327,778
SLM Student Loan Trust Series 2008-5, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/25/73		37,199,000		39,536,965
SLM Student Loan Trust Series 2008-6, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/26/83		31,424,000		32,649,945

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
SLM Student Loan Trust Series 2008-7, Class B
6.00% (90 day USD SOFR Average + 2.112%) (2)		07/26/83	$	17,206,000	$	17,223,189
SLM Student Loan Trust Series 2012-1, Class A3
4.73% (30 day USD SOFR Average + 1.064%) (2)		09/25/28		272,291		269,658
SLM Student Loan Trust Series 2012-2, Class A
4.48% (30 day USD SOFR Average + 0.814%) (2)		01/25/29		6,267,744		6,126,463
SLM Student Loan Trust Series 2012-7, Class A3
4.43% (30 day USD SOFR Average + 0.764%) (2)		05/26/26		10,779,966		10,550,167
Symphony CLO XX Ltd. Series 2018-20A, Class AR2
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		01/16/32		16,334,173		16,362,921
Trestles CLO VIII Ltd. Series 2025-8A, Class A1
5.00% (3 mo. USD Term SOFR + 1.330%) (1),(2)		06/11/35		20,000,000		20,013,720
Trinitas CLO VII Ltd. Series 2017-7A, Class A1R2
4.73% (3 mo. USD Term SOFR + 1.060%) (1),(2)		01/25/35		15,000,000		14,964,225
Trinitas CLO XVI Ltd. Series 2021-16A, Class A1R
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		07/20/34		25,000,000		24,984,400
United Auto Credit Securitization Trust Series 2022-2, Class R1
0.00% (1),(4)		04/10/29		33,600		2
Valley Stream Park CLO Ltd. Series 2022-1A, Class ARR
4.86% (3 mo. USD Term SOFR + 1.190%) (1),(2)		01/20/37		13,350,000		13,355,954
Voya CLO Ltd. Series 2019-4A, Class BR
5.68% (3 mo. USD Term SOFR + 2.012%) (1),(2)		01/15/35		17,500,000		17,521,070

See accompanying Notes to Financial Statements.

80

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Whetstone Park CLO Ltd. Series 2021-1A, Class A1R
4.74% (3 mo. USD Term SOFR + 1.070%) (1),(2)		01/20/35	$	22,345,000	$	22,317,069
Total Asset-Backed Securities
(Cost: $1,444,175,952)						1,465,468,865
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 36.8%
Federal Home Loan Mortgage Corp., Pool #RA4201
2.00%		12/01/50		7,120,620		5,796,881
Federal Home Loan Mortgage Corp., Pool #RA4398
2.00%		01/01/51		63,128,120		51,392,461
Federal Home Loan Mortgage Corp., Pool #SD8121
2.00%		01/01/51		97,535		79,392
Federal Home Loan Mortgage Corp., Pool #SD3302
2.00%		10/01/51		50,701,311		41,145,981
Federal Home Loan Mortgage Corp., Pool #RA6507
2.00%		12/01/51		106,626,136		86,381,748
Federal Home Loan Mortgage Corp., Pool #SD8182
2.00%		12/01/51		22,655,067		18,350,220
Federal Home Loan Mortgage Corp., Pool #SD8188
2.00%		01/01/52		35,887,184		29,055,474
Federal Home Loan Mortgage Corp., Pool #SD8193
2.00%		02/01/52		67,624,767		54,727,663
Federal Home Loan Mortgage Corp., Pool #SD1178
2.00%		03/01/52		13,906,208		11,254,076
Federal Home Loan Mortgage Corp., Pool #QE0312
2.00%		04/01/52		5,526,579		4,476,984
Federal Home Loan Mortgage Corp., Pool #SD8211
2.00%		05/01/52		10,119,446		8,197,585
Federal Home Loan Mortgage Corp., Pool #RA5285
2.50%		05/01/51		93,304,008		79,586,977
Federal Home Loan Mortgage Corp., Pool #SD8189
2.50%		01/01/52		169,353,586		143,519,459
Federal Home Loan Mortgage Corp., Pool #SD8205
2.50%		04/01/52		77,495,129		65,655,543
Federal Home Loan Mortgage Corp., Pool #C04546
3.00%		02/01/43		7,746,811		7,125,431
Federal Home Loan Mortgage Corp., Pool #C04573
3.00%		03/01/43		9,134,556		8,401,623
Federal Home Loan Mortgage Corp., Pool #G08710
3.00%		06/01/46		63,448,346		57,366,837
Federal Home Loan Mortgage Corp., Pool #G08715
3.00%		08/01/46		87,364,099		78,990,271
Federal Home Loan Mortgage Corp., Pool #ZM1779
3.00%		09/01/46		9,611,357		8,679,341
Federal Home Loan Mortgage Corp., Pool #G08721
3.00%		09/01/46		8,813,934		7,969,120

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp., Pool #G08726
3.00%		10/01/46	$	95,241,138	$	86,112,298
Federal Home Loan Mortgage Corp., Pool #G08732
3.00%		11/01/46		58,599,501		52,982,753
Federal Home Loan Mortgage Corp., Pool #ZS4693
3.00%		12/01/46		11,438,067		10,328,914
Federal Home Loan Mortgage Corp., Pool #ZM2285
3.00%		12/01/46		11,283,460		10,189,300
Federal Home Loan Mortgage Corp., Pool #G08741
3.00%		01/01/47		37,342,127		33,762,893
Federal Home Loan Mortgage Corp., Pool #G08747
3.00%		02/01/47		13,232,749		11,964,393
Federal Home Loan Mortgage Corp., Pool #RE6029
3.00%		02/01/50		3,147,011		2,775,749
Federal Home Loan Mortgage Corp., Pool #SD3890
3.00%		08/01/52		51,859,433		45,812,715
Federal Home Loan Mortgage Corp., Pool #SD4636
3.00%		01/01/53		90,038,088		79,433,371
Federal Home Loan Mortgage Corp., Pool #G07408
3.50%		06/01/43		8,229,376		7,810,228
Federal Home Loan Mortgage Corp., Pool #U99097
3.50%		07/01/43		20,703,297		19,649,828
Federal Home Loan Mortgage Corp., Pool #V80356
3.50%		08/01/43		14,586,781		13,846,285
Federal Home Loan Mortgage Corp., Pool #G07848
3.50%		04/01/44		41,445,859		39,341,866
Federal Home Loan Mortgage Corp., Pool #G07849
3.50%		05/01/44		5,564,508		5,281,430
Federal Home Loan Mortgage Corp., Pool #G07924
3.50%		01/01/45		6,165,168		5,836,319
Federal Home Loan Mortgage Corp., Pool #G60023
3.50%		04/01/45		6,633,548		6,286,394
Federal Home Loan Mortgage Corp., Pool #G60138
3.50%		08/01/45		55,405,154		52,296,612
Federal Home Loan Mortgage Corp., Pool #G60238
3.50%		10/01/45		21,359,024		20,136,598
Federal Home Loan Mortgage Corp., Pool #G08676
3.50%		11/01/45		15,675,883		14,681,514
Federal Home Loan Mortgage Corp., Pool #G08681
3.50%		12/01/45		10,461,637		9,798,024
Federal Home Loan Mortgage Corp., Pool #G08698
3.50%		03/01/46		541		505
Federal Home Loan Mortgage Corp., Pool #G08711
3.50%		06/01/46		4,427,950		4,136,437
Federal Home Loan Mortgage Corp., Pool #G67700
3.50%		08/01/46		16,565,688		15,538,058
Federal Home Loan Mortgage Corp., Pool #G08722
3.50%		09/01/46		19,755,726		18,455,114

See accompanying Notes to Financial Statements.

81

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp., Pool #ZT0277
3.50%		10/01/46	$	1,116,461	$	1,044,344
Federal Home Loan Mortgage Corp., Pool #G08727
3.50%		10/01/46		17,168,730		16,038,432
Federal Home Loan Mortgage Corp., Pool #G08742
3.50%		01/01/47		28,305,919		26,442,406
Federal Home Loan Mortgage Corp., Pool #G08757
3.50%		04/01/47		10,230,098		9,537,166
Federal Home Loan Mortgage Corp., Pool #G67703
3.50%		04/01/47		119,087,010		111,699,610
Federal Home Loan Mortgage Corp., Pool #G08779
3.50%		09/01/47		39,604		36,921
Federal Home Loan Mortgage Corp., Pool #G08784
3.50%		10/01/47		35,260		32,871
Federal Home Loan Mortgage Corp., Pool #ZA5128
3.50%		12/01/47		323,437		301,151
Federal Home Loan Mortgage Corp., Pool #ZA5103
3.50%		12/01/47		92,084		85,739
Federal Home Loan Mortgage Corp., Pool #G08792
3.50%		12/01/47		30,005		27,972
Federal Home Loan Mortgage Corp., Pool #G67707
3.50%		01/01/48		61,570,378		57,759,285
Federal Home Loan Mortgage Corp., Pool #ZS4768
3.50%		05/01/48		773,106		718,074
Federal Home Loan Mortgage Corp., Pool #SD7502
3.50%		07/01/49		5,083,727		4,729,982
Federal Home Loan Mortgage Corp., Pool #SD7503
3.50%		08/01/49		11,162,164		10,401,682
Federal Home Loan Mortgage Corp., Pool #SD7511
3.50%		01/01/50		11,742,784		10,942,744
Federal Home Loan Mortgage Corp., Pool #A97038
4.00%		02/01/41		3,798,238		3,711,495
Federal Home Loan Mortgage Corp., Pool #G06499
4.00%		03/01/41		3,345,440		3,275,443
Federal Home Loan Mortgage Corp., Pool #G06361
4.00%		03/01/41		7,757		7,594
Federal Home Loan Mortgage Corp., Pool #G06498
4.00%		04/01/41		7,585,594		7,426,397
Federal Home Loan Mortgage Corp., Pool #Q05804
4.00%		01/01/42		12,742,870		12,476,005
Federal Home Loan Mortgage Corp., Pool #G07786
4.00%		08/01/44		66,344,026		64,759,159
Federal Home Loan Mortgage Corp., Pool #G07925
4.00%		02/01/45		4,408,595		4,291,602
Federal Home Loan Mortgage Corp., Pool #G60344
4.00%		12/01/45		51,901		50,303
Federal Home Loan Mortgage Corp., Pool #G08758
4.00%		04/01/47		7,856		7,528

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp., Pool #G08762
4.00%		05/01/47	$	7,903,472	$	7,573,675
Federal Home Loan Mortgage Corp., Pool #G67711
4.00%		03/01/48		35,109,865		33,834,668
Federal Home Loan Mortgage Corp., Pool #G67713
4.00%		06/01/48		312,637		300,497
Federal Home Loan Mortgage Corp., Pool #G67714
4.00%		07/01/48		51,331		49,370
Federal Home Loan Mortgage Corp., Pool #G67717
4.00%		11/01/48		42,892,536		41,253,739
Federal Home Loan Mortgage Corp., Pool #G05866
4.50%		02/01/40		5,253,134		5,256,358
Federal Home Loan Mortgage Corp., Pool #G08843
4.50%		10/01/48		3,995,361		3,926,646
Federal Home Loan Mortgage Corp., Pool #G08848
4.50%		11/01/48		679,958		668,264
Federal Home Loan Mortgage Corp., Pool #SD8245
4.50%		09/01/52		88,354,652		85,649,836
Federal Home Loan Mortgage Corp., Pool #SD2322
4.50%		09/01/52		63,954,794		61,998,114
Federal Home Loan Mortgage Corp., Pool #SD8257
4.50%		10/01/52		69,324,658		67,195,964
Federal Home Loan Mortgage Corp., Pool #SD8266
4.50%		11/01/52		204,242,287		197,951,800
Federal Home Loan Mortgage Corp., Pool #SD2148
4.50%		01/01/53		41,082,029		39,832,354
Federal Home Loan Mortgage Corp., Pool #SL1660
4.50%		10/01/53		59,573,415		57,744,144
Federal Home Loan Mortgage Corp., Pool #C01492
5.00%		02/01/33		115,034		116,960
Federal Home Loan Mortgage Corp., Pool #G01515
5.00%		02/01/33		139,421		141,754
Federal Home Loan Mortgage Corp., Pool #A54856
5.00%		01/01/34		905,663		923,226
Federal Home Loan Mortgage Corp., Pool #G02579
5.00%		12/01/34		239,259		243,871
Federal Home Loan Mortgage Corp., Pool #A61164
5.00%		04/01/36		2,533		2,582
Federal Home Loan Mortgage Corp., Pool #G08826
5.00%		06/01/48		5,631,169		5,675,938
Federal Home Loan Mortgage Corp., Pool #G08833
5.00%		07/01/48		3,180,441		3,205,726
Federal Home Loan Mortgage Corp., Pool #G08840
5.00%		08/01/48		470,974		474,718
Federal Home Loan Mortgage Corp., Pool #G08838
5.00%		09/01/48		1,606,640		1,619,413
Federal Home Loan Mortgage Corp., Pool #G08844
5.00%		10/01/48		4,443,392		4,478,717

See accompanying Notes to Financial Statements.

82

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp., Pool #G08849
5.00%		11/01/48	$	1,554,649	$	1,567,009
Federal Home Loan Mortgage Corp., Pool #A25162
5.50%		05/01/34		512,907		527,701
Federal Home Loan Mortgage Corp., Pool #A39012
5.50%		06/01/35		10,336		10,714
Federal Home Loan Mortgage Corp., Pool #G02955
5.50%		03/01/37		1,109,541		1,150,742
Federal Home Loan Mortgage Corp., Pool #H05069
5.50%		05/01/37		54,396		56,416
Federal Home Loan Mortgage Corp., Pool #H00790
5.50%		05/01/37		1,931		2,002
Federal Home Loan Mortgage Corp., Pool #G03357
5.50%		08/01/37		214,777		222,705
Federal Home Loan Mortgage Corp., Pool #G03676
5.50%		12/01/37		835,186		866,013
Federal Home Loan Mortgage Corp., Pool #G03783
5.50%		01/01/38		560,392		581,076
Federal Home Loan Mortgage Corp., Pool #G04438
5.50%		05/01/38		1,696,673		1,761,254
Federal Home Loan Mortgage Corp., Pool #G04703
5.50%		08/01/38		1,403,196		1,456,509
Federal Home Loan Mortgage Corp., Pool #G04706
5.50%		09/01/38		55,243		57,346
Federal Home Loan Mortgage Corp., Pool #SD8362
5.50%		09/01/53		139,490,165		140,640,564
Federal Home Loan Mortgage Corp., Pool #G02884
6.00%		04/01/37		846,304		889,132
Federal Home Loan Mortgage Corp., Pool #G03985
6.00%		03/01/38		3,906		4,121
Federal Home Loan Mortgage Corp., Pool #C46104
6.50%		09/01/29		1,098		1,111
Federal Home Loan Mortgage Corp., Pool #A24156
6.50%		10/01/31		14,254		14,604
Federal Home Loan Mortgage Corp., Pool #G00992
7.00%		11/01/28		77		78
Federal Home Loan Mortgage Corp. REMICS Series 1980, Class Z
7.00%		07/15/27		3,025		3,049
Federal Home Loan Mortgage Corp. REMICS Series 2098, Class TZ (TAC)
6.00%		01/15/28		16,784		16,800
Federal Home Loan Mortgage Corp. REMICS Series 2174, Class PN (PAC)
6.00%		07/15/29		2,799		2,856
Federal Home Loan Mortgage Corp. REMICS Series 2313, Class LA
6.50%		05/15/31		837		846

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 2433, Class SA (I/F) (PAC)
11.08% (-30 day USD SOFR Average + 20.632%) (2)		02/15/32	$	2,000	$	2,191
Federal Home Loan Mortgage Corp. REMICS Series 2481, Class AW
6.50%		08/15/32		552		555
Federal Home Loan Mortgage Corp. REMICS Series 3019, Class SW (I/O) (I/F)
3.41% (-30 day USD SOFR Average + 7.086%) (2)		08/15/35		383,813		42,674
Federal Home Loan Mortgage Corp. REMICS Series 3063, Class YG (PAC)
5.50%		11/15/35		1,035,352		1,068,002
Federal Home Loan Mortgage Corp. REMICS Series 3300, Class SA (I/O) (I/F)
3.41% (-30 day USD SOFR Average + 7.086%) (2)		08/15/35		169,692		18,867
Federal Home Loan Mortgage Corp. REMICS Series 3752, Class XL (PAC)
4.50%		11/15/40		19,064,704		18,997,784
Federal Home Loan Mortgage Corp. REMICS Series 3891, Class HS (I/O) (I/F)
2.16% (-30 day USD SOFR Average + 5.836%) (2)		07/15/41		2,076,376		175,538
Federal Home Loan Mortgage Corp. REMICS Series 3904, Class JB (PAC)
4.50%		08/15/41		4,245,987		4,228,527
Federal Home Loan Mortgage Corp. REMICS Series 3925, Class LB (PAC)
4.50%		09/15/41		9,215,000		9,163,819
Federal Home Loan Mortgage Corp. REMICS Series 3928, Class JD (PAC)
4.00%		09/15/41		8,817,332		8,773,357
Federal Home Loan Mortgage Corp. REMICS Series 4102, Class TC (PAC)
2.50%		09/15/41		1,969,996		1,941,470
Federal Home Loan Mortgage Corp. REMICS Series 4161, Class BA (PAC)
2.50%		12/15/41		2,697,408		2,658,907
Federal Home Loan Mortgage Corp. REMICS Series 4656, Class EZ
4.00%		02/15/47		199,888		189,557
Federal Home Loan Mortgage Corp. REMICS Series 4818, Class CA
3.00%		04/15/48		885,105		791,720

See accompanying Notes to Financial Statements.

83

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 4846, Class PA
4.00%		06/15/47	$	6,696	$	6,681
Federal Home Loan Mortgage Corp. REMICS Series 4852, Class CA (PAC)
4.00%		11/15/47		3,336,816		3,328,404
Federal Home Loan Mortgage Corp. REMICS Series 4860, Class BH (PAC)
3.50%		10/15/48		1,796,448		1,745,984
Federal Home Loan Mortgage Corp. REMICS Series 4860, Class PA (PAC)
3.50%		02/15/49		1,660,933		1,553,396
Federal Home Loan Mortgage Corp. REMICS Series 4879, Class BC (PAC)
3.00%		04/15/49		565,398		516,130
Federal Home Loan Mortgage Corp. REMICS Series 4896, Class DA
3.00%		01/15/49		536,183		487,815
Federal Home Loan Mortgage Corp. REMICS Series 4937, Class MF
4.23% (30 day USD SOFR Average + 0.564%) (2)		12/25/49		3,933,614		3,879,910
Federal Home Loan Mortgage Corp. STRIPS Series 309 (P/O)
0.00% (4)		08/15/43		8,522,139		6,482,838
Federal Home Loan Mortgage Corp. STRIPS Series 319, Class F2
4.29% (30 day USD SOFR Average + 0.614%) (2)		11/15/43		1,492,388		1,482,597
Federal National Mortgage Association, Pool #MA4128
2.00%		09/01/40		96,907,078		85,765,436
Federal National Mortgage Association, Pool #MA4333
2.00%		05/01/41		57,024,260		50,036,775
Federal National Mortgage Association, Pool #MA4158
2.00%		10/01/50		144,485,925		117,760,742
Federal National Mortgage Association, Pool #MA4237
2.00%		01/01/51		1,960,262		1,595,623
Federal National Mortgage Association, Pool #MA4281
2.00%		03/01/51		31,929,811		25,967,995
Federal National Mortgage Association, Pool #MA4305
2.00%		04/01/51		71,802,916		58,371,056
Federal National Mortgage Association, Pool #CB2365
2.00%		09/01/51		136,441,462		110,679,602
Federal National Mortgage Association, Pool #BQ6913
2.00%		12/01/51		352,989,861		286,039,136
Federal National Mortgage Association, Pool #MA4492
2.00%		12/01/51		79,318,837		64,246,915
Federal National Mortgage Association, Pool #BU1452
2.00%		01/01/52		62,460,331		50,548,167

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #BQ7006
2.00%		01/01/52	$	37,050,764	$	30,010,492
Federal National Mortgage Association, Pool #CB2767
2.00%		01/01/52		60,928,242		49,629,551
Federal National Mortgage Association, Pool #MA4547
2.00%		02/01/52		15,890,667		12,874,891
Federal National Mortgage Association, Pool #CB0610
2.50%		05/01/51		48,475,208		41,539,345
Federal National Mortgage Association, Pool #CB2313
2.50%		12/01/51		122,936,591		105,118,143
Federal National Mortgage Association, Pool #MA4493
2.50%		12/01/51		124,855,525		105,848,117
Federal National Mortgage Association, Pool #BV2994
2.50%		04/01/52		2,246,885		1,901,749
Federal National Mortgage Association, Pool #MA4578
2.50%		04/01/52		182,621,685		154,569,822
Federal National Mortgage Association, Pool #MA1432
3.00%		05/01/33		22,398		21,650
Federal National Mortgage Association, Pool #MA1459
3.00%		06/01/33		10,584		10,227
Federal National Mortgage Association, Pool #MA1527
3.00%		08/01/33		15,601,693		15,066,482
Federal National Mortgage Association, Pool #MA1561
3.00%		09/01/33		9,914,719		9,572,196
Federal National Mortgage Association, Pool #AB6385
3.00%		10/01/42		162,188		149,559
Federal National Mortgage Association, Pool #AL8256
3.00%		08/01/43		257,165		237,217
Federal National Mortgage Association, Pool #AL7092
3.00%		07/01/45		28,653		26,089
Federal National Mortgage Association, Pool #MA2895
3.00%		02/01/47		31,665		28,594
Federal National Mortgage Association, Pool #FM2310
3.00%		01/01/48		7,023,479		6,329,886
Federal National Mortgage Association, Pool #BM5507
3.00%		09/01/48		4,414,701		3,986,606
Federal National Mortgage Association, Pool #MA3811
3.00%		10/01/49		4,735,873		4,177,168
Federal National Mortgage Association, Pool #MA3846
3.00%		11/01/49		25,322		22,335
Federal National Mortgage Association, Pool #MA3942
3.00%		02/01/50		9,204,143		8,118,304
Federal National Mortgage Association, Pool #MA3997
3.00%		04/01/50		11,260,295		9,806,926
Federal National Mortgage Association, Pool #CA5689
3.00%		05/01/50		45,419,192		40,810,944
Federal National Mortgage Association, Pool #AB4262
3.50%		01/01/32		1,460,011		1,437,828

See accompanying Notes to Financial Statements.

84

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #MA1584
3.50%		09/01/33	$	14,958,897	$	14,627,256
Federal National Mortgage Association, Pool #MA1608
3.50%		10/01/33		10,401,356		10,171,068
Federal National Mortgage Association, Pool #MA1982
3.50%		08/01/34		21,799		21,262
Federal National Mortgage Association, Pool #AB3679
3.50%		10/01/41		4,552,035		4,332,432
Federal National Mortgage Association, Pool #AB4045
3.50%		12/01/41		4,127,824		3,932,102
Federal National Mortgage Association, Pool #AL2521
3.50%		09/01/42		57,327		54,414
Federal National Mortgage Association, Pool #MA1177
3.50%		09/01/42		17,455,136		16,568,519
Federal National Mortgage Association, Pool #MA1404
3.50%		04/01/43		36,741		34,829
Federal National Mortgage Association, Pool #AB9703
3.50%		06/01/43		8,034,028		7,615,882
Federal National Mortgage Association, Pool #MA1582
3.50%		09/01/43		6,084,561		5,767,878
Federal National Mortgage Association, Pool #AL6348
3.50%		02/01/45		18,641		17,671
Federal National Mortgage Association, Pool #BD2450
3.50%		01/01/47		32,982		30,773
Federal National Mortgage Association, Pool #CA0862
3.50%		09/01/47		1,694,075		1,577,347
Federal National Mortgage Association, Pool #MA3120
3.50%		09/01/47		881,749		820,994
Federal National Mortgage Association, Pool #CA1191
3.50%		11/01/47		2,004,621		1,866,495
Federal National Mortgage Association, Pool #MA3182
3.50%		11/01/47		18,759,003		17,466,440
Federal National Mortgage Association, Pool #MA3210
3.50%		12/01/47		32,685,904		30,433,727
Federal National Mortgage Association, Pool #CA0996
3.50%		01/01/48		23,397		21,872
Federal National Mortgage Association, Pool #MA3238
3.50%		01/01/48		28,470,367		26,508,656
Federal National Mortgage Association, Pool #CA1187
3.50%		02/01/48		26,550,725		24,721,212
Federal National Mortgage Association, Pool #MA3276
3.50%		02/01/48		11,161,114		10,392,073
Federal National Mortgage Association, Pool #MA3305
3.50%		03/01/48		14,844,461		13,787,781
Federal National Mortgage Association, Pool #FM2388
3.50%		04/01/48		11,504,958		10,761,991
Federal National Mortgage Association, Pool #MA3332
3.50%		04/01/48		40,783,605		37,880,488

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #CA3633
3.50%		06/01/49	$	12,893,589	$	12,009,657
Federal National Mortgage Association, Pool #CA4011
3.50%		08/01/49		12,453,260		11,386,585
Federal National Mortgage Association, Pool #FM2318
3.50%		09/01/49		115,011,146		107,175,395
Federal National Mortgage Association, Pool #AB1613
4.00%		10/01/40		11,066,927		10,821,230
Federal National Mortgage Association, Pool #AB1803
4.00%		11/01/40		12,372,981		12,098,784
Federal National Mortgage Association, Pool #AH3780
4.00%		02/01/41		4,842,972		4,735,648
Federal National Mortgage Association, Pool #AJ1404
4.00%		09/01/41		6,779,636		6,616,580
Federal National Mortgage Association, Pool #MA1146
4.00%		08/01/42		12,530,494		12,200,816
Federal National Mortgage Association, Pool #AT9649
4.00%		07/01/43		88,548		86,396
Federal National Mortgage Association, Pool #AL9472
4.00%		10/01/43		2,536,504		2,471,647
Federal National Mortgage Association, Pool #AL4597
4.00%		01/01/44		20,688,383		20,185,714
Federal National Mortgage Association, Pool #MA2960
4.00%		04/01/47		14,948,402		14,306,622
Federal National Mortgage Association, Pool #AS9830
4.00%		06/01/47		18,379,057		17,589,367
Federal National Mortgage Association, Pool #MA3027
4.00%		06/01/47		11,326,635		10,840,349
Federal National Mortgage Association, Pool #AS9972
4.00%		07/01/47		16,387,693		15,683,567
Federal National Mortgage Association, Pool #CA2327
4.00%		09/01/48		18,691,772		17,973,937
Federal National Mortgage Association, Pool #BM5164
4.00%		11/01/48		18,904,741		18,178,727
Federal National Mortgage Association, Pool #BN4316
4.00%		01/01/49		13,078		12,595
Federal National Mortgage Association, Pool #CB3619
4.00%		05/01/52		131,973,659		125,073,964
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		352,857,021		334,396,816
Federal National Mortgage Association, Pool #MA4732
4.00%		09/01/52		23,050,092		21,838,835
Federal National Mortgage Association, Pool #MA4783
4.00%		10/01/52		14,700,090		13,926,477
Federal National Mortgage Association, Pool #MA4866
4.00%		01/01/53		49,228,882		46,630,509
Federal National Mortgage Association, Pool #734830
4.50%		08/01/33		2,947		2,965

See accompanying Notes to Financial Statements.

85

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #734922
4.50%		09/01/33	$	413,457	$	416,008
Federal National Mortgage Association, Pool #753168
4.50%		12/01/33		2,522		2,538
Federal National Mortgage Association, Pool #AL8356
4.50%		07/01/34		99,307		99,680
Federal National Mortgage Association, Pool #AL8037
4.50%		07/01/34		46,532		46,685
Federal National Mortgage Association, Pool #815422
4.50%		02/01/35		11,594		11,650
Federal National Mortgage Association, Pool #735651
4.50%		06/01/35		1,232,230		1,238,171
Federal National Mortgage Association, Pool #745147
4.50%		12/01/35		6,921		6,954
Federal National Mortgage Association, Pool #190396
4.50%		06/01/39		3,255		3,253
Federal National Mortgage Association, Pool #AC8279
4.50%		08/01/39		5,008		5,025
Federal National Mortgage Association, Pool #AE0138
4.50%		03/01/40		18,306		18,295
Federal National Mortgage Association, Pool #AL0209
4.50%		05/01/41		7,304,821		7,277,374
Federal National Mortgage Association, Pool #AL9106
4.50%		02/01/46		15,593,083		15,458,829
Federal National Mortgage Association, Pool #AL8960
4.50%		05/01/46		12,547,537		12,439,504
Federal National Mortgage Association, Pool #AL9722
4.50%		08/01/46		51,729,976		51,284,589
Federal National Mortgage Association, Pool #AS8663
4.50%		01/01/47		9,606,367		9,433,255
Federal National Mortgage Association, Pool #AL9846
4.50%		02/01/47		55,438,842		54,961,522
Federal National Mortgage Association, Pool #CA1711
4.50%		05/01/48		5,757,826		5,651,772
Federal National Mortgage Association, Pool #CA1710
4.50%		05/01/48		56,462		55,422
Federal National Mortgage Association, Pool #CA2208
4.50%		08/01/48		12,422,783		12,193,967
Federal National Mortgage Association, Pool #CA2493
4.50%		10/01/48		3,128,569		3,070,988
Federal National Mortgage Association, Pool #MA3537
4.50%		12/01/48		7,440,505		7,303,563
Federal National Mortgage Association, Pool #MA4733
4.50%		09/01/52		265,552,081		257,422,690
Federal National Mortgage Association, Pool #CB5675
4.50%		02/01/53		44,286,510		42,931,120
Federal National Mortgage Association, Pool #CB6854
4.50%		08/01/53		30,033,718		29,126,464

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #MA5038
5.00%		06/01/53	$	204,182,073	$	202,443,750
Federal National Mortgage Association, Pool #FS7252
5.00%		11/01/53		39,769,937		39,416,316
Federal National Mortgage Association, Pool #740297
5.50%		10/01/33		656		674
Federal National Mortgage Association, Pool #725257
5.50%		02/01/34		297,507		305,749
Federal National Mortgage Association, Pool #735224
5.50%		02/01/35		977,406		1,011,102
Federal National Mortgage Association, Pool #889184
5.50%		09/01/36		1,029,847		1,058,319
Federal National Mortgage Association, Pool #190375
5.50%		11/01/36		227,501		235,694
Federal National Mortgage Association, Pool #AE0482
5.50%		01/01/38		2,353,818		2,418,892
Federal National Mortgage Association, Pool #MA5072
5.50%		07/01/53		114,526,283		115,632,564
Federal National Mortgage Association, Pool #AL0851
6.00%		10/01/40		4,279,970		4,507,432
Federal National Mortgage Association, Pool #844773
6.00% (1 yr. USD RFUCCT + 1.559%) (2)		12/01/35		1,224		1,243
Federal National Mortgage Association, Pool #839109
6.29% (1 yr. USD RFUCCT + 1.912%) (2)		11/01/35		2,719		2,785
Federal National Mortgage Association, Pool #394854
6.50%		05/01/27		23		23
Federal National Mortgage Association, Pool #545191
7.00%		09/01/31		829		881
Federal National Mortgage Association, Pool #613142
7.00%		11/01/31		2,521		2,651
Federal National Mortgage Association, Pool #625666
7.00%		01/01/32		1,049		1,115
Federal National Mortgage Association, Pool #545756
7.00%		06/01/32		139		146
Federal National Mortgage Association, Pool #655928
7.00%		08/01/32		30,455		32,385
Federal National Mortgage Association, Pool #735207
7.00%		04/01/34		5,905		6,256
Federal National Mortgage Association, Pool #888412
7.00%		04/01/37		57,661		62,265
Federal National Mortgage Association, Pool #313182
7.50%		10/01/26		18		18
Federal National Mortgage Association, Pool #633698
7.50%		02/01/31		10,650		11,201

See accompanying Notes to Financial Statements.

86

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 1999-11, Class Z
5.50%		03/25/29	$	2,003	$	2,008
Federal National Mortgage Association REMICS Series 2001-52, Class YZ (PAC)
6.50%		10/25/31		30,645		31,854
Federal National Mortgage Association REMICS Series 2005-122, Class SG (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.486%) (2)		11/25/35		851		3
Federal National Mortgage Association REMICS Series 2006-4, Class WE
4.50%		02/25/36		11,492		11,499
Federal National Mortgage Association REMICS Series 2006-49, Class SE (I/F) (PAC)
13.89% (-30 day USD SOFR Average + 28.542%) (2)		04/25/36		276,204		296,146
Federal National Mortgage Association REMICS Series 2007-17, Class SI (I/O) (I/F)
2.62% (-30 day USD SOFR Average + 6.286%) (2)		03/25/37		532,686		32,750
Federal National Mortgage Association REMICS Series 2007-34, Class SB (I/O) (I/F)
2.33% (-30 day USD SOFR Average + 5.996%) (2)		04/25/37		988,330		80,005
Federal National Mortgage Association REMICS Series 2007-64, Class FA
4.25% (30 day USD SOFR Average + 0.584%) (2)		07/25/37		1,490		1,484
Federal National Mortgage Association REMICS Series 2008-24, Class NA
6.75%		06/25/37		74,895		79,288
Federal National Mortgage Association REMICS Series 2010-116, Class SE (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.486%) (2)		10/25/40		1,192,811		105,877
Federal National Mortgage Association REMICS Series 2010-17, Class SB (I/O) (I/F)
2.57% (-30 day USD SOFR Average + 6.236%) (2)		03/25/40		2,609,136		246,174

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2010-43, Class KS (I/O) (I/F)
2.64% (-30 day USD SOFR Average + 6.306%) (2)		05/25/40	$	4,617,457	$	444,905
Federal National Mortgage Association REMICS Series 2011-101, Class HE (PAC)
4.00%		10/25/41		5,185,797		5,092,736
Federal National Mortgage Association REMICS Series 2011-111, Class DB
4.00%		11/25/41		5,315,977		5,182,244
Federal National Mortgage Association REMICS Series 2012-84, Class VZ
3.50%		08/25/42		4,413,024		4,205,373
Federal National Mortgage Association REMICS Series 2013-101, Class BO (P/O)
0.00% (4)		10/25/43		7,035,863		5,056,977
Federal National Mortgage Association REMICS Series 2013-101, Class CO (P/O)
0.00% (4)		10/25/43		4,151,334		2,990,585
Federal National Mortgage Association REMICS Series 2016-45, Class AF
4.28% (30 day USD SOFR Average + 0.614%) (2)		07/25/46		5,161,426		5,114,379
Federal National Mortgage Association REMICS Series 2016-72, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		10/25/46		10,675,843		10,575,867
Federal National Mortgage Association REMICS Series 2016-74, Class GF
4.28% (30 day USD SOFR Average + 0.614%) (2)		10/25/46		8,266,094		8,189,595
Federal National Mortgage Association REMICS Series 2016-75, Class FL
4.28% (30 day USD SOFR Average + 0.614%) (2)		10/25/46		8,302,539		8,226,577
Federal National Mortgage Association REMICS Series 2018-29, Class AP (PAC)
3.50%		11/25/46		8,153,301		8,051,906
Federal National Mortgage Association REMICS Series 2018-38, Class LA
3.00%		06/25/48		10,516,501		9,456,327
Federal National Mortgage Association REMICS Series 2018-38, Class PA (PAC)
3.50%		06/25/47		10,744		10,552

See accompanying Notes to Financial Statements.

87

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2018-45, Class GA
3.00%		06/25/48	$	11,754,750	$	10,572,013
Federal National Mortgage Association REMICS Series 2018-86, Class JA (PAC)
4.00%		05/25/47		233,848		233,252
Federal National Mortgage Association REMICS Series 2018-94, Class KD (PAC)
3.50%		12/25/48		2,573,935		2,385,020
Federal National Mortgage Association REMICS Series 2019-1, Class AB
3.50%		02/25/49		1,049,991		979,068
Federal National Mortgage Association REMICS Series 2019-1, Class KP (PAC)
3.25%		02/25/49		1,091,347		1,007,497
Federal National Mortgage Association REMICS Series 2019-26, Class JE (PAC)
3.00%		06/25/49		2,789,845		2,513,726
Federal National Mortgage Association REMICS Series 2019-45, Class PA (PAC)
3.00%		08/25/49		10,812,684		9,685,885
Federal National Mortgage Association REMICS Series 2019-52, Class PA (PAC)
3.00%		09/25/49		2,947,343		2,643,036
Federal National Mortgage Association REMICS Series 2019-67, Class FE
4.23% (30 day USD SOFR Average + 0.564%) (2)		11/25/49		20,504,784		20,096,241
Federal National Mortgage Association REMICS Series 2019-79, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		01/25/50		61,230		60,459
Federal National Mortgage Association Trust Series 2003-W2, Class 2A9
5.90%		07/25/42		11,313		11,597
Government National Mortgage Association, Pool #MA3309
3.00%		12/20/45		4,157		3,775
Government National Mortgage Association, Pool #MA3662
3.00%		05/20/46		1,498,458		1,358,412
Government National Mortgage Association, Pool #MA3873
3.00%		08/20/46		11,609,257		10,524,257
Government National Mortgage Association, Pool #MA4003
3.00%		10/20/46		4,648,043		4,213,638
Government National Mortgage Association, Pool #MA4126
3.00%		12/20/46		80,151,476		72,660,529
Government National Mortgage Association, Pool #MA4961
3.00%		01/20/48		216,102		195,378

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association, Pool #MA6080
3.00%		08/20/49	$	1,407	$	1,238
Government National Mortgage Association, Pool #MA6209
3.00%		10/20/49		2,562,722		2,254,635
Government National Mortgage Association, Pool #AA5452
3.50%		07/15/42		53,799		50,345
Government National Mortgage Association, Pool #MA1157
3.50%		07/20/43		22,846		21,584
Government National Mortgage Association, Pool #MA3521
3.50%		03/20/46		15,353,031		14,394,706
Government National Mortgage Association, Pool #MA3597
3.50%		04/20/46		38,856,096		36,430,727
Government National Mortgage Association, Pool #MA3663
3.50%		05/20/46		10,941,018		10,238,071
Government National Mortgage Association, Pool #MA3937
3.50%		09/20/46		8,841,421		8,289,546
Government National Mortgage Association, Pool #MA4069
3.50%		11/20/46		27,854,224		26,115,584
Government National Mortgage Association, Pool #MA4127
3.50%		12/20/46		31,584,868		29,613,364
Government National Mortgage Association, Pool #MA4196
3.50%		01/20/47		7,324		6,867
Government National Mortgage Association, Pool #MA4510
3.50%		06/20/47		24,226		22,750
Government National Mortgage Association, Pool #MA4586
3.50%		07/20/47		28,955,052		27,191,470
Government National Mortgage Association, Pool #MA4652
3.50%		08/20/47		2,206,310		2,071,929
Government National Mortgage Association, Pool #MA4719
3.50%		09/20/47		27,421,821		25,751,623
Government National Mortgage Association, Pool #MA4900
3.50%		12/20/47		4,369,497		4,103,361
Government National Mortgage Association, Pool #MA6030
3.50%		07/20/49		6,570,358		6,012,375
Government National Mortgage Association, Pool #MA6081
3.50%		08/20/49		2,565,935		2,348,025
Government National Mortgage Association, Pool #MA6210
3.50%		10/20/49		1,347,022		1,232,627
Government National Mortgage Association, Pool #MA4511
4.00%		06/20/47		3,400,538		3,251,679
Government National Mortgage Association, Pool #MA4720
4.00%		09/20/47		67,623		64,663
Government National Mortgage Association, Pool #MA4838
4.00%		11/20/47		22,307,378		21,330,869
Government National Mortgage Association, Pool #MA4901
4.00%		12/20/47		15,083,725		14,423,433
Government National Mortgage Association, Pool #MA4963
4.00%		01/20/48		24,869,156		23,780,506

See accompanying Notes to Financial Statements.

88

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association, Pool #MA5078
4.00%		03/20/48	$	37,694	$	36,044
Government National Mortgage Association, Pool #MA5137
4.00%		04/20/48		7,979,397		7,626,071
Government National Mortgage Association, Pool #MA5466
4.00%		09/20/48		3,313,215		3,166,506
Government National Mortgage Association, Pool #MA5528
4.00%		10/20/48		15,221,901		14,547,879
Government National Mortgage Association, Pool #MA5651
4.00%		12/20/48		5,541		5,296
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52		137,507,579		130,317,036
Government National Mortgage Association, Pool #3388
4.50%		05/20/33		911		914
Government National Mortgage Association, Pool #3427
4.50%		08/20/33		478		479
Government National Mortgage Association, Pool #3554
4.50%		05/20/34		382		383
Government National Mortgage Association, Pool #782817
4.50%		11/15/39		6,041,092		6,022,252
Government National Mortgage Association, Pool #783591
4.50%		07/20/41		7,279		7,244
Government National Mortgage Association, Pool #5140
4.50%		08/20/41		18,823		18,733
Government National Mortgage Association, Pool #5175
4.50%		09/20/41		20,501		20,403
Government National Mortgage Association, Pool #5281
4.50%		01/20/42		5,715		5,688
Government National Mortgage Association, Pool #MA0627
4.50%		12/20/42		24,143		24,028
Government National Mortgage Association, Pool #MA0701
4.50%		01/20/43		23,434		23,323
Government National Mortgage Association, Pool #MA1997
4.50%		06/20/44		6,010		5,963
Government National Mortgage Association, Pool #MA2756
4.50%		04/20/45		12,349		12,252
Government National Mortgage Association, Pool #MA2828
4.50%		05/20/45		525,413		521,074
Government National Mortgage Association, Pool #MA2894
4.50%		06/20/45		202,827		201,236
Government National Mortgage Association, Pool #MA3036
4.50%		08/20/45		19,848		19,684
Government National Mortgage Association, Pool #MA3456
4.50%		02/20/46		133,836		132,730
Government National Mortgage Association, Pool #MA3665
4.50%		05/20/46		55,911		55,449
Government National Mortgage Association, Pool #MA3738
4.50%		06/20/46		228,223		226,433

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association, Pool #MA3805
4.50%		07/20/46	$	1,871,133	$	1,855,681
Government National Mortgage Association, Pool #MA3876
4.50%		08/20/46		1,965,707		1,950,294
Government National Mortgage Association, Pool #MA3939
4.50%		09/20/46		1,035,520		1,028,710
Government National Mortgage Association, Pool #MA4006
4.50%		10/20/46		1,199,525		1,190,119
Government National Mortgage Association, Pool #MA4071
4.50%		11/20/46		3,243,355		3,217,924
Government National Mortgage Association, Pool #MA4129
4.50%		12/20/46		10,986,735		10,900,588
Government National Mortgage Association, Pool #MA4198
4.50%		01/20/47		86,830		86,016
Government National Mortgage Association, Pool #MA4264
4.50%		02/20/47		25,725,316		25,484,129
Government National Mortgage Association, Pool #MA4384
4.50%		04/20/47		1,019,650		1,006,696
Government National Mortgage Association, Pool #MA4453
4.50%		05/20/47		56,127,892		55,414,820
Government National Mortgage Association, Pool #MA4512
4.50%		06/20/47		197,763		195,250
Government National Mortgage Association, Pool #MA4588
4.50%		07/20/47		31,214		30,817
Government National Mortgage Association, Pool #MA5399
4.50%		08/20/48		1,788,592		1,758,346
Government National Mortgage Association, Pool #MA5467
4.50%		09/20/48		16,816		16,532
Government National Mortgage Association, Pool #4058
5.00%		12/20/37		326		332
Government National Mortgage Association, Pool #4342
5.00%		01/20/39		449		457
Government National Mortgage Association, Pool #4520
5.00%		08/20/39		8,359		8,522
Government National Mortgage Association, Pool #MA2374
5.00%		11/20/44		126,794		129,249
Government National Mortgage Association, Pool #MA3524
5.00%		03/20/46		6,436		6,561
Government National Mortgage Association, Pool #MA3600
5.00%		04/20/46		3,478,357		3,545,707
Government National Mortgage Association, Pool #MA3666
5.00%		05/20/46		2,057,967		2,097,815
Government National Mortgage Association, Pool #MA3739
5.00%		06/20/46		1,290,264		1,315,247
Government National Mortgage Association, Pool #MA3806
5.00%		07/20/46		93,203		95,018
Government National Mortgage Association, Pool #MA3877
5.00%		08/20/46		399,559		407,296

See accompanying Notes to Financial Statements.

89

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association, Pool #MA4007
5.00%		10/20/46	$	2,236,243	$	2,279,795
Government National Mortgage Association, Pool #MA4072
5.00%		11/20/46		670,605		683,665
Government National Mortgage Association, Pool #MA4199
5.00%		01/20/47		1,910,611		1,947,821
Government National Mortgage Association, Pool #MA4265
5.00%		02/20/47		444,017		453,550
Government National Mortgage Association, Pool #MA4324
5.00%		03/20/47		2,416,528		2,463,318
Government National Mortgage Association, Pool #MA4385
5.00%		04/20/47		4,164,398		4,255,510
Government National Mortgage Association, Pool #MA4454
5.00%		05/20/47		9,698,496		9,882,177
Government National Mortgage Association, Pool #MA4513
5.00%		06/20/47		170,654		174,388
Government National Mortgage Association, Pool #MA4589
5.00%		07/20/47		8,437,492		8,597,291
Government National Mortgage Association, Pool #MA4655
5.00%		08/20/47		9,472,192		9,651,588
Government National Mortgage Association, Pool #MA4722
5.00%		09/20/47		180,463		183,012
Government National Mortgage Association, Pool #MA4781
5.00%		10/20/47		2,210,170		2,252,029
Government National Mortgage Association, Pool #MA4840
5.00%		11/20/47		693,867		707,008
Government National Mortgage Association, Pool #MA5530
5.00%		10/20/48		2,653,451		2,674,233
Government National Mortgage Association, Pool #81497
5.13% (1 yr. CMT + 1.500%) (2)		10/20/35		5,924		6,013
Government National Mortgage Association, Pool #80968
5.38% (1 yr. CMT + 1.500%) (2)		07/20/34		3,535		3,587
Government National Mortgage Association, Pool #81432
5.38% (1 yr. CMT + 1.500%) (2)		08/20/35		5,791		5,869
Government National Mortgage Association, Pool #MA9488
5.50%		02/20/54		76,538,229		77,609,248
Government National Mortgage Association, Pool #81267
5.63% (1 yr. CMT + 1.500%) (2)		03/20/35		5,417		5,436
Government National Mortgage Association, Pool #2631
7.00%		08/20/28		248		254
Government National Mortgage Association REMICS Series 2003-86, Class ZK
5.00%		10/20/33		1,829,665		1,861,128

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2007-35, Class PY (I/O) (I/F) (PAC)
2.96% (-1 mo. USD Term SOFR + 6.636%) (2)		06/16/37	$	4,329,522	$	461,345
Government National Mortgage Association REMICS Series 2009-106, Class SD (I/O) (I/F)
2.46% (-1 mo. USD Term SOFR + 6.136%) (2)		03/20/36		3,582,849		294,265
Government National Mortgage Association REMICS Series 2009-106, Class XI (I/O) (I//F)
3.01% (-1 mo. USD Term SOFR + 6.686%) (2)		05/20/37		8,890,153		878,653
Government National Mortgage Association REMICS Series 2009-124, Class SC (I/O) (I/F)
2.69% (-1 mo. USD Term SOFR + 6.366%) (2)		12/20/39		1,585,122		167,196
Government National Mortgage Association REMICS Series 2009-66, Class XS (I/O) (I/F) (PAC)
3.01% (-1 mo. USD Term SOFR + 6.686%) (2)		07/16/39		5,578		176
Government National Mortgage Association REMICS Series 2010-4, Class SL (I/O) (I/F)
2.61% (-1 mo. USD Term SOFR + 6.286%) (2)		01/16/40		19,812		1,892
Government National Mortgage Association REMICS Series 2010-4, Class SM (I/O) (I/F)
2.01% (-1 mo. USD Term SOFR + 5.686%) (2)		01/16/40		3,602,188		299,022
Government National Mortgage Association REMICS Series 2011-146, Class EI (I/O) (PAC)
5.00%		11/16/41		46,866		8,305
Government National Mortgage Association REMICS Series 2014-108, Class PA (PAC)
2.63%		12/20/39		2,805,977		2,705,804
Government National Mortgage Association REMICS Series 2018-124, Class NW
3.50%		09/20/48		507,878		470,903
Government National Mortgage Association REMICS Series 2019-1, Class NP
3.50%		01/20/49		4,495,813		4,199,563

See accompanying Notes to Financial Statements.

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March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2019-119, Class JE (PAC)
3.00%		09/20/49	$	2,996,261	$	2,674,984
Government National Mortgage Association REMICS Series 2019-15, Class GT
3.50%		02/20/49		5,236,836		4,878,154
Government National Mortgage Association REMICS Series 2019-71, Class PT
3.00%		06/20/49		657,728		584,291
Government National Mortgage Association REMICS Series 2019-86, Class C
2.50%		03/20/49		7,614,881		6,499,123
Government National Mortgage Association REMICS Series 2019-90, Class HE
3.00%		07/20/49		4,979,670		4,495,272
Government National Mortgage Association, TBA
2.50% (6)		04/21/56		400,325,000		344,325,337
3.50% (6)		07/01/55		171,625,000		156,627,807
4.00% (6)		06/01/55		428,775,000		401,392,785
5.00% (6)		01/01/56		133,950,000		132,613,380
5.50% (6)		12/01/55		158,675,000		159,639,744
Uniform Mortgage-Backed Security, TBA
2.00% (6)		09/01/51		112,075,000		90,248,842
3.50% (6)		12/01/51		132,075,000		121,085,948
3.50% (6)		12/01/51		773,750,000		709,309,392
4.00% (6)		05/01/55		316,450,000		298,260,454
4.00% (6)		05/01/55		741,975,000		700,011,862
4.50% (6)		01/01/56		602,725,000		581,432,233
5.00% (6)		01/01/56		260,375,000		256,742,769
5.50% (6)		12/01/55		158,475,000		159,226,171
Total Residential Mortgage-Backed Securities — Agency
(Cost: $11,372,224,398)						10,935,077,655
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY— 3.7%
AMSR Trust Series 2021-SFR1, Class G
4.61% (1)		06/17/38		15,250,000		14,839,115
BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A
4.09% (1),(7),(8)		08/10/38		122,930,000		120,294,479
BGME Trust Series 2021-VR, Class A
2.99% (1),(7)		01/10/43		20,000,000		17,453,444
BGME Trust Series 2021-VR, Class B
2.99% (1),(7)		01/10/43		32,137,000		26,982,685
BX Commercial Mortgage Trust Series 2020-VIV4, Class A
2.84% (1)		03/09/44		130,165,000		120,703,267
BX Trust Series 2019-OC11, Class A
3.20% (1)		12/09/41		42,270,000		39,943,108
BXHPP Trust Series 2021-FILM, Class D
5.29% (1 mo. USD Term SOFR + 1.614%) (1),(2)		08/15/36		11,500,000		9,943,188

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
CALI Mortgage Trust Series 2019-101C, Class XA (I/O)
0.30% (1),(7)		03/10/39	$	272,551,000	$	2,240,901
Century Plaza Towers Series 2019-CPT, Class A
2.87% (1)		11/13/39		27,645,000		25,561,347
Citigroup Commercial Mortgage Trust Series 2020-555, Class A
2.65% (1)		12/10/41		5,000,000		4,533,103
COLT Mortgage Loan Trust
7.05% (7)		03/10/27		83,029,534		83,145,776
DC Office Trust Series 2019-MTC, Class A
2.97% (1)		09/15/45		31,135,000		28,114,236
FirstKey Homes Trust Series 2021-SFR1, Class F1
3.24% (1)		08/17/38		12,416,000		12,300,920
FirstKey Homes Trust Series 2021-SFR2, Class F1
2.91% (1)		09/17/38		12,677,000		12,509,779
Hudson Yards Mortgage Trust Series 2019-30HY, Class A
3.23% (1)		07/10/39		84,915,000		80,769,178
Hudson Yards Mortgage Trust Series 2019-55HY, Class A
2.94% (1),(7)		12/10/41		81,025,000		75,844,885
MF1 Ltd. Series 2022-FL8, Class A
5.03% (1 mo. USD Term SOFR + 1.350%) (1),(2)		02/19/37		9,372,366		9,373,966
MKT Mortgage Trust Series 2020-525M, Class A
2.69% (1)		02/12/40		8,500,000		7,685,445
One Bryant Park Trust Series 2019-OBP, Class A
2.52% (1)		09/15/54		128,310,000		118,654,377
Progress Residential Trust Series 2021-SFR3, Class E1
2.54% (1)		05/17/26		3,055,000		3,042,882
Progress Residential Trust Series 2021-SFR3, Class G
4.25% (1)		05/17/26		3,190,000		3,177,874
Progress Residential Trust Series 2021-SFR6, Class E2
2.53% (1)		07/17/38		3,973,000		3,942,049
Progress Residential Trust Series 2021-SFR6, Class F
3.42% (1)		07/17/38		10,437,000		10,371,520
Progress Residential Trust Series 2021-SFR6, Class G
4.00% (1)		07/17/38		8,896,000		8,840,361
Progress Residential Trust Series 2021-SFR7, Class F
3.83% (1)		08/17/40		23,777,000		22,486,006
Progress Residential Trust Series 2021-SFR8, Class E1
2.38% (1)		10/17/38		17,400,000		17,151,284
Progress Residential Trust Series 2021-SFR8, Class E2
2.53% (1)		10/17/38		13,425,000		13,236,143
Progress Residential Trust Series 2021-SFR8, Class F
3.18% (1)		10/17/38		61,665,000		60,873,036
Progress Residential Trust Series 2021-SFR8, Class G
4.01% (1)		10/17/38		19,482,000		19,247,941
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A1
3.87% (1),(7)		01/05/43		56,465,000		48,547,647

See accompanying Notes to Financial Statements.

91

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A2B
4.14% (1),(7)		01/05/43	$	8,710,000	$	7,560,142
SHOW Trust Series 2022-BIZ, Class A
6.65% (1 mo. USD Term SOFR + 2.984%) (1),(2),(8)		01/15/27		68,000,000		36,707,223
SREIT Trust Series 2021-PALM, Class G
7.40% (1 mo. USD Term SOFR + 3.731%) (1),(2)		10/15/34		40,000,000		40,088,624
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $1,181,718,138)						1,106,165,931
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY —0.8%
Government National Mortgage Association Series 2020-193 (I/O)
0.78% (7)		09/16/62		529,325,825		27,451,896
Government National Mortgage Association Series 2021-10 (I/O)
0.99% (7)		05/16/63		57,749,646		4,364,406
Government National Mortgage Association Series 2021-150 (I/O)
1.04% (7)		11/16/63		30,924,857		2,414,171
Government National Mortgage Association Series 2021-17 (I/O)
1.05% (7)		01/16/61		125,002,626		9,699,529
Government National Mortgage Association Series 2021-2, Class AH
1.50%		06/16/63		92,194,270		68,551,723
Government National Mortgage Association Series 2021-21, Class AH
1.40%		06/16/63		64,529,432		49,020,474
Government National Mortgage Association Series 2021-31 (I/O)
0.94% (7)		01/16/61		107,280,181		7,365,471
Government National Mortgage Association Series 2021-31, Class B
1.25%		01/16/61		70,152,298		51,233,079
Government National Mortgage Association Series 2022-32 (I/O)
0.53% (7)		02/01/62		259,919,931		9,120,044
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $252,106,056)						229,220,793
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY—9.3%
Aames Mortgage Trust Series 2002-1, Class A3
7.40%		06/25/32		12,657		12,282
ABFC Trust Series 2006-OPT3, Class A3B
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		11/25/36		36,582,126		14,731,373

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
ABFC Trust Series 2007-WMC1, Class A2A
4.54% (1 mo. USD Term SOFR + 0.864%) (2)		06/25/37	$	18,009,937	$	15,484,405
ABFC Trust Series 2007-WMC1, Class A2B
4.79% (1 mo. USD Term SOFR + 1.114%) (2)		06/25/37		13,156,890		11,311,604
ACE Securities Corp. Home Equity Loan Trust Series 2004-IN1, Class A1
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		05/25/34		98,706		94,180
ACE Securities Corp. Home Equity Loan Trust Series 2006-HE3, Class A2C
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		06/25/36		2,002,897		1,488,612
ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP2, Class A1
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		06/25/37		21,872,001		16,038,686
Adjustable Rate Mortgage Trust Series 2005-10, Class 6A1
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		01/25/36		110,439		105,915
Adjustable Rate Mortgage Trust Series 2007-3, Class 2A1
6.02% (1),(7)		11/25/37		24,102,601		15,150,970
Ajax Mortgage Loan Trust Series 2019-F, Class A1
2.86% (1)		07/25/59		55,037		53,854
American Home Mortgage Assets Trust Series 2006-3, Class 2A1
5.01% (1 yr. MTA + 1.150%) (2)		10/25/46		27,860,137		18,405,279
American Home Mortgage Assets Trust Series 2007-1, Class A1
4.56% (1 yr. MTA + 0.700%) (2)		02/25/47		42,819,441		14,450,761
American Home Mortgage Assets Trust Series 2007-2, Class A1
3.92% (1 mo. USD Term SOFR + 0.239%) (2)		03/25/47		18,490,787		16,854,526
American Home Mortgage Investment Trust Series 2004-3, Class 2A
4.54% (6 mo. USD Term SOFR + 1.928%) (2)		10/25/34		715,622		714,010

See accompanying Notes to Financial Statements.

92

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-W2, Class M1
4.53% (1 mo. USD Term SOFR + 0.849%) (2)		10/25/35	$	2,998	$	2,994
Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-W3, Class M1
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		11/25/35		4,748,042		4,674,754
Asset-Backed Securities Corp. Home Equity Loan Trust Series 2006-HE6, Class A5
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		11/25/36		7,497,167		7,392,191
Banc of America Funding Trust Series 2003-2, Class 1A1
6.50%		06/25/32		9,095		9,217
Banc of America Funding Trust Series 2006-D, Class 3A1
4.87% (7)		05/20/36		1,956,662		1,768,556
Banc of America Funding Trust Series 2006-E, Class 2A1
5.48% (7)		06/20/36		18,611		16,860
Banc of America Funding Trust Series 2006-H, Class 3A1
4.06% (7)		09/20/46		374,796		324,949
Banc of America Mortgage Trust Series 2004-F, Class 1A1
5.80% (7)		07/25/34		10,569		10,236
Banc of America Mortgage Trust Series 2005-C, Class 2A2
5.79% (7)		04/25/35		59,597		59,268
Banc of America Mortgage Trust Series 2007-1, Class 1A2
6.00%		03/25/37		293,382		251,582
Banc of America Mortgage Trust Series 2007-3, Class 1A1
6.00%		09/25/37		104,563		86,423
BCAP LLC Trust Series 2007-AA2, Class 2A5
6.00%		04/25/37		201,933		85,886
BCAP LLC Trust Series 2007-AA5, Class A1
5.09% (1 mo. USD Term SOFR + 1.414%) (2)		09/25/47		10,099,237		9,159,684
Bear Stearns ALT-A Trust Series 2005-4, Class 22A
4.67% (7)		05/25/35		4,729		4,639
Bear Stearns ALT-A Trust Series 2006-4, Class 32A1
4.11% (7)		07/25/36		1,172,617		474,042
Bear Stearns ARM Trust Series 2004-10, Class 14A
4.78% (7)		01/25/35		1,436,789		1,413,094
Bear Stearns ARM Trust Series 2006-4, Class 2A1
4.06% (7)		10/25/36		132,727		112,540

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Bear Stearns Asset-Backed Securities I Trust Series 2005-AC5, Class 2A3
4.04% (1 mo. USD Term SOFR + 0.364%) (2)		08/25/49	$	831,221	$	477,728
Bear Stearns Asset-Backed Securities I Trust Series 2006-AC2, Class 21A (PAC)
6.00%		03/25/36		30,926		30,871
Bear Stearns Asset-Backed Securities I Trust Series 2006-HE9, Class 3A
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		11/25/36		1,224,507		1,211,947
Bear Stearns Asset-Backed Securities I Trust Series 2007-AC1, Class A3
6.55%		02/25/37		24,175,528		22,859,833
Bear Stearns Asset-Backed Securities Trust Series 2003-AC7, Class A1
5.50%		01/25/34		320,425		262,804
Bear Stearns Asset-Backed Securities Trust Series 2003-AC7, Class A2
5.75%		01/25/34		288,885		236,883
Bear Stearns Mortgage Funding Trust Series 2006-AR3, Class 1A1
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		10/25/36		752,546		673,876
Bear Stearns Mortgage Funding Trust Series 2006-AR5, Class 1A1
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		12/25/46		10,982,166		9,871,265
Bear Stearns Mortgage Funding Trust Series 2007-AR5, Class 1A1
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		06/25/47		1,642,659		1,465,433
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2C
3.46%		02/25/37		19,691,107		11,233,396
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2D
3.46%		02/25/37		14,416,822		8,224,519
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2E
3.46%		02/25/37		2,621,677		1,495,616
C-BASS Trust Series 2006-CB7, Class A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		10/25/36		28,369,459		20,863,394

See accompanying Notes to Financial Statements.

93

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
C-BASS Trust Series 2006-CB9, Class A3
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		11/25/36	$	20,673,108	$	9,576,823
C-BASS Trust Series 2007-CB1, Class AF4
3.08%		01/25/37		5,629,835		1,528,044
C-BASS Trust Series 2007-CB1, Class AF5
3.08%		01/25/37		10,579,800		2,870,603
C-BASS Trust Series 2007-CB5, Class A2
3.21% (1 mo. USD Term SOFR + 0.454%) (2)		04/25/37		17,359,352		10,376,685
Carrington Mortgage Loan Trust Series 2006-NC3, Class A4
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		08/25/36		46,429,000		39,863,888
Carrington Mortgage Loan Trust Series 2007-RFC1, Class A4
4.23% (1 mo. USD Term SOFR + 0.554%) (2)		10/25/36		22,415,000		20,295,868
Chase Funding Trust Series 2003-5, Class 2A2
4.39% (1 mo. USD Term SOFR + 0.714%) (2)		07/25/33		1,752		1,761
Chase Funding Trust Series 2004-2, Class 2A2
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		02/26/35		2,204		2,133
Chase Mortgage Finance Trust Series 2006-A1, Class 1A2
4.03% (7)		09/25/36		254,963		229,113
Chase Mortgage Finance Trust Series 2006-S3, Class 2A1
5.50%		11/25/21		1,301,032		106,008
Chase Mortgage Finance Trust Series 2007-A2, Class 2A3
6.15% (7)		06/25/35		404,136		407,886
ChaseFlex Trust Series 2006-2, Class A2B
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		09/25/36		3,240,055		2,743,048
CHL Mortgage Pass-Through Trust Series 2001-HYB1, Class 1A1
5.75% (7)		06/19/31		3,334		3,317
CHL Mortgage Pass-Through Trust Series 2004-14, Class 4A1
5.43% (7)		08/25/34		400,274		380,422
CHL Mortgage Pass-Through Trust Series 2004-25, Class 1A1
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		02/25/35		46,598		44,347

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
CHL Mortgage Pass-Through Trust Series 2004-7, Class 2A1
5.23% (7)		06/25/34	$	30,890	$	28,657
CHL Mortgage Pass-Through Trust Series 2004-HYB3, Class 1A
6.52% (7)		06/20/34		3,610		3,576
CHL Mortgage Pass-Through Trust Series 2004-HYB4, Class 2A1
5.16% (7)		09/20/34		294,654		287,673
CHL Mortgage Pass-Through Trust Series 2005-11, Class 1A2
4.49% (7)		04/25/35		183,977		171,878
CHL Mortgage Pass-Through Trust Series 2007-HY5, Class 1A1
5.03% (7)		09/25/47		446,461		351,060
CHL Mortgage Pass-Through Trust Series 2007-HYB1, Class 1A1
3.68% (7)		03/25/37		720,811		608,835
CIM Trust Series 2020-R1, Class A1
2.85% (1),(7)		10/27/59		96,273,799		89,725,326
CIM Trust Series 2020-R6, Class A1
2.25% (1),(7)		12/25/60		56,600,931		51,878,038
CIM Trust Series 2020-R6, Class A1A
2.25% (1),(7)		12/25/60		33,613,069		30,818,754
CIM Trust Series 2020-R7, Class A1A
2.25% (1),(7)		12/27/61		136,157,048		125,909,392
CIM Trust Series 2021-R1, Class A2
2.40% (1),(7)		08/25/56		45,405,170		41,658,780
CIM Trust Series 2021-R2, Class A2
2.50% (1),(7)		01/25/57		37,971,511		36,729,319
CIM Trust Series 2021-R3, Class A1A
1.95% (1),(7)		06/25/57		121,805,662		113,343,226
CIM Trust Series 2021-R4, Class A1A
2.00% (1),(7)		05/01/61		118,912,015		112,779,075
CIM Trust Series 2021-R5, Class A1
2.00% (1),(7)		08/25/61		30,483,759		26,766,235
CIM Trust Series 2021-R5, Class A1A
2.00% (1),(7)		08/25/61		119,398,183		107,278,326
Citicorp Mortgage Securities, Inc. Series 2005-1, Class 1A1
5.00%		02/25/35		55,792		53,886
Citigroup Mortgage Loan Trust Series 2005-9, Class 1A1
4.05% (1 mo. USD Term SOFR + 0.374%) (2)		11/25/35		76,228		67,432
Citigroup Mortgage Loan Trust Series 2006-AR2, Class 1A1
5.37% (7)		03/25/36		5,384,743		3,992,472
Citigroup Mortgage Loan Trust Series 2014-5, Class 2A2
4.79% (1 mo. USD LIBOR + 1.750%) (1),(2)		02/20/36		4,158,689		3,938,749
Citigroup Mortgage Loan Trust, Inc. Series 2005-5, Class 3A2
4.68% (7)		10/25/35		249,537		224,426
Citigroup Mortgage Loan Trust, Inc. Series 2006-WF2, Class A1
7.25%		05/25/36		25,182,300		12,270,950

See accompanying Notes to Financial Statements.

94

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Citigroup Mortgage Loan Trust, Inc. Series 2007-6, Class 1A4
4.57% (7)		03/25/37	$	78,920	$	78,430
Citigroup Mortgage Loan Trust, Inc. Series 2007-AR5, Class 1A1
4.96% (7)		04/25/37		38,206		34,848
Countrywide Alternative Loan Trust Series 2004-30CB, Class 1A6
5.50%		02/25/35		16,724,642		16,604,822
Countrywide Alternative Loan Trust Series 2004-J6, Class 2A1
6.50%		11/25/31		1,147		1,172
Countrywide Alternative Loan Trust Series 2005-76, Class 2A1
4.86% (1 yr. MTA + 1.000%) (2)		02/25/36		24,353,721		22,647,297
Countrywide Alternative Loan Trust Series 2005-84, Class 1A1
4.87% (7)		02/25/36		19,468		16,935
Countrywide Alternative Loan Trust Series 2006-HY13, Class 4A1
4.47% (7)		02/25/37		516,750		465,142
Countrywide Alternative Loan Trust Series 2007-J1, Class 2A1
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		03/25/37		517,003		137,027
Countrywide Asset-Backed Certificates Trust Series 2005-13, Class AF4
5.81% (7)		04/25/36		63,042		59,240
Countrywide Asset-Backed Certificates Trust Series 2007-13, Class 2A2
4.59% (1 mo. USD Term SOFR + 0.914%) (2)		10/25/47		5,303,564		4,931,653
Credit Suisse First Boston Mortgage Securities Corp. Series 2003-AR20, Class 2A4
5.13% (7)		08/25/33		2,916		2,863
Credit Suisse First Boston Mortgage Securities Corp. Series 2005-6, Class 8A1
4.50%		07/25/49		2,533		2,182
Credit-Based Asset Servicing & Securitization LLC Series 2003-CB1, Class AF
3.95%		01/25/33		2,037		1,989
Credit-Based Asset Servicing & Securitization LLC Series 2006-CB8, Class A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		10/25/36		6,712,500		6,232,008
CSAB Mortgage-Backed Trust Series 2006-4, Class A6B
6.28%		12/25/36		5,268,016		187,858
CSFB Mortgage-Backed Pass-Through Certificates Series 2004-1, Class 2A1
6.50%		02/25/34		1,244		1,247
CSFB Mortgage-Backed Pass-Through Certificates Series 2004-AR5, Class 6A1
5.88% (7)		06/25/34		22,473		22,238

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
CSMC Trust Series 2021-NQM6, Class A1
1.17% (1),(7)		07/25/66	$	4,890,972	$	4,225,293
CSMC Trust Series 2021-RP11, Class PT
3.71% (1),(7)		10/25/61		188,827,797		157,713,640
CSMC Trust Series 2021-RP11, Class SA (I/O)
0.00% (1),(4)		10/25/61		131,811		128,240
CSMC Trust Series 2022-RPL1, Class PT
4.55% (1),(7)		04/25/61		187,786,485		168,993,077
CSMC Trust Series 2022-RPL1, Class SA (I/O)
0.00% (1),(4)		04/25/61		271,161		266,956
CSMCM Trust Series 2021-RP11, Class CERT
3.78% (1)		10/27/61		7,932,096		6,218,131
CSMCM Trust Series 2022-RPL1, Class CERT
4.23% (1)		04/25/61		7,819,116		6,451,274
Deephaven Residential Mortgage Trust Series 2021-4, Class A1
1.93% (1),(7)		11/25/66		17,031,491		15,121,521
Deutsche Alt-A Securities Mortgage Loan Trust Series 2006-AR4, Class A1
4.05% (1 mo. USD Term SOFR + 0.374%) (2)		12/25/36		1,283,517		436,551
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2005-6, Class 1A7
5.50%		12/25/35		163,441		133,790
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2006-AR1, Class 2A1
3.85% (7)		02/25/36		475,754		301,423
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2006-AR3, Class A1
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		08/25/36		1,498,005		1,384,749
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2006-AR4, Class A2
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		12/25/36		23,558,770		7,392,351
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2006-AR6, Class A6
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		02/25/37		260,334		229,700
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2007-3, Class 1A1
5.48% (1 mo. USD Term SOFR + 1.814%) (2)		10/25/47		15,617,862		12,440,530

See accompanying Notes to Financial Statements.

95

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2007-AR3, Class 2A4
4.49% (1 mo. USD Term SOFR + 0.814%) (2)		06/25/37	$	12,728,713	$	10,911,778
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2007-OA3, Class A1
3.93% (1 mo. USD Term SOFR + 0.394%) (2)		07/25/47		22,560,303		21,587,841
DSLA Mortgage Loan Trust Series 2004-AR4, Class 2A1
4.51% (1 mo. USD Term SOFR + 0.834%)(2)		01/19/45		852,013		648,645
DSLA Mortgage Loan Trust Series 2005-AR3, Class 2A1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		07/19/45		49,974		48,909
DSLA Mortgage Loan Trust Series 2006-AR2, Class 2A1A
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		10/19/36		11,395,182		7,748,384
DSLA Mortgage Loan Trust Series 2007-AR1, Class 2A1A
3.93% (1 mo. USD Term SOFR + 0.254%) (2)		03/19/37		4,449,975		3,790,373
Equity One Mortgage Pass-Through Trust Series 2002-4, Class M1
5.22% (7)		02/25/33		1,654		1,653
Equity One Mortgage Pass-Through Trust Series 2002-5, Class M1
5.80%		11/25/32		14,032		15,486
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-R07, Class 1B1
7.18% (30 day USD SOFR Average + 3.514%) (1),(2)		10/25/39		9,223,147		9,320,072
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1B1
6.76% (30 day USD SOFR Average + 3.100%) (1),(2)		10/25/41		5,660,000		5,715,354
First Franklin Mortgage Loan Trust Series 2006-FF13, Class A2C
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		10/25/36		8,178,507		5,377,268

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
First Franklin Mortgage Loan Trust Series 2006-FF13, Class A2D
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		10/25/36	$	515,717	$	338,737
First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2B
4.01% (1 mo. USD Term SOFR + 0.334%) (2)		12/25/37		3,948,890		3,678,364
First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2C
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		12/25/37		10,859,802		10,114,321
First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2D
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		12/25/37		7,870,831		7,327,078
First Franklin Mortgage Loan Trust Series 2007-FF1, Class A2C
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		01/25/38		45,417,557		24,971,894
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		03/25/37		41,112,018		22,003,008
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2B
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		03/25/37		18,388,756		8,705,494
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2C
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		03/25/37		10,541,980		5,005,202
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2D
4.23% (1 mo. USD Term SOFR + 0.554%) (2)		03/25/37		31,184,387		14,810,622
First Horizon Alternative Mortgage Securities Trust Series 2004-AA2, Class 1A1
5.38% (7)		08/25/34		1,696,391		1,669,715
First Horizon Alternative Mortgage Securities Trust Series 2004-AA3, Class A1
4.78% (7)		09/25/34		3,907		3,927
First Horizon Alternative Mortgage Securities Trust Series 2004-AA4, Class A1
4.95% (7)		10/25/34		241,246		238,711

See accompanying Notes to Financial Statements.

96

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
First Horizon Alternative Mortgage Securities Trust Series 2005-AA10, Class 1A1
5.06% (7)		12/25/35	$	5,146,213	$	4,253,811
First Horizon Alternative Mortgage Securities Trust Series 2005-AA12, Class 2A1
4.72% (7)		02/25/36		5,124,913		3,039,048
First Horizon Alternative Mortgage Securities Trust Series 2005-AA4, Class 2A1
5.04% (7)		06/25/35		4,860,307		4,548,879
First Horizon Alternative Mortgage Securities Trust Series 2005-AA7, Class 2A1
4.82% (7)		09/25/35		3,422,197		3,054,088
First Horizon Alternative Mortgage Securities Trust Series 2005-AA8, Class 2A1
4.70% (7)		10/25/35		6,155,977		3,309,628
First Horizon Alternative Mortgage Securities Trust Series 2005-AA9, Class 2A1
5.19% (7)		11/25/35		5,213,250		4,550,209
First Horizon Mortgage Pass-Through Trust Series 2004-AR6, Class 2A1
4.33% (7)		12/25/34		53,527		52,413
First Horizon Mortgage Pass-Through Trust Series 2006-AR4, Class 1A2
4.44% (7)		01/25/37		34,910		15,451
First Horizon Mortgage Pass-Through Trust Series 2007-AR3, Class 1A1
4.53% (7)		11/25/37		65,066		24,867
GMACM Home Equity Loan Trust Series 2000-HE2, Class A1
2.73% (1 mo. USD Term SOFR + 0.554%) (2)		06/25/30		6,665		6,017
GMACM Mortgage Loan Trust Series 2005-AR6, Class 3A1
3.72% (7)		11/19/35		100,583		90,005
GMACM Mortgage Loan Trust Series 2006-AR2, Class 1A1
5.38% (7)		05/19/36		1,454,196		952,752
GreenPoint Mortgage Funding Trust Series 2005-AR4, Class G41
3.99% (1 mo. USD Term SOFR + 0.314%) (2)		10/25/45		5,202,899		4,835,816
GreenPoint Mortgage Funding Trust Series 2006-OH1, Class A1
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		01/25/37		7,291,053		6,828,757
GS Mortgage-Backed Securities Trust Series 2018-RPL1, Class A1A
3.75% (1)		10/25/57		10,303,116		10,117,757
GS Mortgage-Backed Securities Trust Series 2023-PJ1, Class A3
3.00% (1),(7)		02/25/53		80,701,075		70,241,239

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
GSAA Home Equity Trust Series 2005-11, Class 2A2
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		10/25/35	$	16,272	$	18,418
GSAMP Trust Series 2005-AHL2, Class A2D
4.49% (1 mo. USD Term SOFR + 0.814%) (2)		12/25/35		12,262,852		11,883,498
GSAMP Trust Series 2007-HE2, Class A1
4.26% (1 mo. USD Term SOFR + 0.584%) (2)		03/25/47		57,445,158		43,316,068
GSMSC Resecuritization Trust Series 2015-3R, Class 1B
4.07% (1 mo. USD Term SOFR + 0.394%) (1),(2)		01/26/37		8,818,578		8,045,810
GSR Mortgage Loan Trust Series 2004-9, Class 3A1
4.92% (7)		08/25/34		794		765
GSR Mortgage Loan Trust Series 2004-9, Class 5A7
4.83% (7)		08/25/34		131		131
GSR Mortgage Loan Trust Series 2005-AR5, Class 2A3
4.63% (7)		10/25/35		1,662,423		815,860
GSR Mortgage Loan Trust Series 2005-AR5, Class 2A4
4.63% (5),(7)		10/25/35		19		—
GSR Mortgage Loan Trust Series 2005-AR6, Class 4A5
5.10% (7)		09/25/35		20,481		18,680
GSR Mortgage Loan Trust Series 2007-AR2, Class 2A1
4.92% (7)		05/25/37		1,152,988		577,545
HarborView Mortgage Loan Trust Series 2004-1, Class 2A
5.46% (7)		04/19/34		2,128		2,115
HarborView Mortgage Loan Trust Series 2004-11, Class 3A2
4.47% (1 mo. USD Term SOFR + 0.794%) (2)		01/19/35		126,863		122,493
HarborView Mortgage Loan Trust Series 2004-3, Class 1A
5.32% (7)		05/19/34		20,382		19,425
HarborView Mortgage Loan Trust Series 2005-3, Class 2A1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		06/19/35		74,455		73,765
HarborView Mortgage Loan Trust Series 2006-1, Class 2A1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		03/19/36		8,132,342		7,661,730

See accompanying Notes to Financial Statements.

97

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
HarborView Mortgage Loan Trust Series 2006-10, Class 1A1
3.99% (1 mo. USD Term SOFR + 0.514%) (2)		11/19/36	$	42,634,022	$	34,572,675
HarborView Mortgage Loan Trust Series 2006-4, Class 1A1A
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		05/19/46		28,018,362		13,950,682
HarborView Mortgage Loan Trust Series 2006-5, Class 1A1
4.77% (1 yr. MTA + 0.910%) (2)		07/19/47		32,766,217		9,999,469
HarborView Mortgage Loan Trust Series 2006-7, Class 1A
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		09/19/46		43,894,393		39,469,263
HarborView Mortgage Loan Trust Series 2007-7, Class 1A1
5.79% (1 mo. USD Term SOFR + 2.114%) (2)		10/25/37		12,948,595		10,641,756
HarborView Mortgage Loan Trust Series 2007-7, Class 2A1A
5.79% (1 mo. USD Term SOFR + 2.114%) (2)		10/25/37		9,232,206		8,772,372
HSI Asset Securitization Corp. Trust Series 2006-HE1, Class 1A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		10/25/36		47,960,670		12,675,861
Impac Secured Assets Trust Series 2006-3, Class A1
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		11/25/36		2,895,834		2,688,025
Impac Secured Assets Trust Series 2006-5, Class 1A1
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		02/25/37		5,084,535		4,643,557
Impac Secured Assets Trust Series 2007-2, Class 1A1
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		05/25/37		23,185,865		19,915,584
IndyMac INDA Mortgage Loan Trust Series 2007-AR1, Class 1A2
3.89% (7)		03/25/37		266,960		195,344
IndyMac INDA Mortgage Loan Trust Series 2007-AR7, Class 1A1
3.35% (7)		11/25/37		1,069,694		881,185
IndyMac INDX Mortgage Loan Trust Series 2004-AR4, Class 1A
4.19% (7)		08/25/34		405,628		387,286

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
IndyMac INDX Mortgage Loan Trust Series 2004-AR7, Class A2
4.65% (1 mo. USD Term SOFR + 0.974%) (2)		09/25/34	$	28,506	$	25,009
IndyMac INDX Mortgage Loan Trust Series 2005-AR19, Class A1
3.61% (7)		10/25/35		14,517,225		11,602,396
IndyMac INDX Mortgage Loan Trust Series 2005-AR6, Class 2A1
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		04/25/35		300,636		249,145
IndyMac INDX Mortgage Loan Trust Series 2006-AR19, Class 1A2
3.80% (7)		08/25/36		9,361,299		5,825,579
IndyMac INDX Mortgage Loan Trust Series 2006-AR27, Class 2A2
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		10/25/36		9,033,137		8,289,435
IndyMac INDX Mortgage Loan Trust Series 2006-AR35, Class 2A3
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		01/25/37		20,906,276		19,180,187
IndyMac INDX Mortgage Loan Trust Series 2006-AR7, Class 1A1
3.09% (7)		05/25/36		1,493,536		1,226,346
IndyMac INDX Mortgage Loan Trust Series 2006-AR7, Class 2A1
3.74% (7)		05/25/36		15,988,814		10,564,527
IndyMac INDX Mortgage Loan Trust Series 2007-AR11, Class 1A1
3.29% (7)		06/25/37		1,885,369		1,713,126
IndyMac Manufactured Housing Contract Pass-Through Certificates Series 1997-1, Class A3
6.61%		02/25/28		13,566		13,611
JPMorgan Alternative Loan Trust Series 2006-A2, Class 5A1
4.10% (7)		05/25/36		3,377,971		1,765,843
JPMorgan Mortgage Acquisition Corp. Series 2006-WF1, Class A3A
6.33%		07/25/36		26,031,930		6,572,518
JPMorgan Mortgage Acquisition Corp. Series 2006-WF1, Class A6
6.50%		07/25/36		3,630,090		916,006
JPMorgan Mortgage Acquisition Corp. Series 2007-HE1, Class AF1
3.89% (1 mo. USD Term SOFR + 0.214%) (2)		03/25/47		87,531		59,278
JPMorgan Mortgage Acquisition Corp. Series 2007-HE1, Class AF2
4.15%		03/25/47		5,726,073		3,716,760
JPMorgan Mortgage Acquisition Corp. Series 2007-HE1, Class AF3
4.15%		05/25/35		4,819,189		3,127,556

See accompanying Notes to Financial Statements.

98

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
JPMorgan Mortgage Acquisition Corp. Series 2007-HE1, Class AF4
4.15%		03/25/47	$	2,190,541	$	1,421,074
JPMorgan Mortgage Acquisition Corp. Series 2007-HE1, Class AV4
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		03/25/47		211,569		202,440
JPMorgan Mortgage Trust Series 2003-A2, Class 2A3
5.59% (7)		11/25/33		18,859		17,895
JPMorgan Mortgage Trust Series 2004-A4, Class 1A3
6.74% (7)		09/25/34		9,987		9,832
JPMorgan Mortgage Trust Series 2005-A5, Class TA1
5.77% (7)		08/25/35		21,281		20,486
JPMorgan Mortgage Trust Series 2005-S2, Class 4A3
5.50%		09/25/49		1,497,157		775,645
JPMorgan Mortgage Trust Series 2006-A2, Class 5A3
6.31% (7)		11/25/33		626		626
JPMorgan Mortgage Trust Series 2006-A3, Class 2A1
4.79% (7)		05/25/36		372,179		313,721
JPMorgan Mortgage Trust Series 2006-A3, Class 3A3
4.41% (7)		05/25/36		240,412		196,901
JPMorgan Mortgage Trust Series 2006-A4, Class 1A1
4.92% (7)		06/25/36		200,032		133,016
JPMorgan Mortgage Trust Series 2006-A4, Class 1A4
4.92% (7)		06/25/36		644,838		428,800
JPMorgan Mortgage Trust Series 2006-A5, Class 2A4
5.43% (7)		08/25/36		171,382		134,486
JPMorgan Mortgage Trust Series 2007-A1, Class 5A2
5.82% (7)		07/25/35		283,803		283,779
JPMorgan Mortgage Trust Series 2007-A3, Class 2A3
5.03% (7)		05/25/37		875,423		732,349
JPMorgan Mortgage Trust Series 2007-A3, Class 3A2
4.80% (7)		05/25/37		152,505		132,070
JPMorgan Mortgage Trust Series 2007-A4, Class 2A3
4.74% (7)		06/25/37		185,436		144,513
Lehman ABS Mortgage Loan Trust Series 2007-1, Class 2A2
3.99% (1 mo. USD Term SOFR + 0.314%) (1),(2)		06/25/37		152,290		101,089
Lehman XS Trust Series 2005-7N, Class 1A1
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		12/25/35		186,429		178,975
Lehman XS Trust Series 2006-12N, Class A31A
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		08/25/46		4,970,721		5,383,064

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Lehman XS Trust Series 2006-14N, Class 3A2
4.03% (1 mo. USD Term SOFR + 0.354%) (2)		08/25/36	$	13,858	$	16,596
Lehman XS Trust Series 2006-5, Class 1A1
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		04/25/36		15,538,462		13,944,576
Lehman XS Trust Series 2006-8, Class 1A1
4.11% (1 mo. USD Term SOFR + 0.274%) (2)		06/25/36		20,158,843		17,970,980
Lehman XS Trust Series 2007-4N, Class 1A3
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		03/25/47		10,431,182		9,302,481
Long Beach Mortgage Loan Trust Series 2004-4, Class M1
4.69% (1 mo. USD Term SOFR + 1.014%) (2)		10/25/34		37,018		36,196
Luminent Mortgage Trust Series 2006-5, Class A1A
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		07/25/36		23,319,217		13,991,309
Luminent Mortgage Trust Series 2006-6, Class A1
4.19% (1 mo. USD Term SOFR + 0.514%) (2)		10/25/46		6,816,126		6,340,012
MASTR Adjustable Rate Mortgages Trust Series 2003-6, Class 4A2
4.35% (7)		01/25/34		8,974		8,812
MASTR Adjustable Rate Mortgages Trust Series 2003-7, Class 3A1
5.98% (7)		11/25/33		181,011		181,150
MASTR Adjustable Rate Mortgages Trust Series 2004-13, Class 3A1
5.60% (7)		11/21/34		974,579		972,151
MASTR Adjustable Rate Mortgages Trust Series 2004-8, Class 2A1
4.92% (7)		09/25/34		889,828		858,714
MASTR Adjustable Rate Mortgages Trust Series 2006-2, Class 5A1
4.38% (7)		05/25/36		4,287,258		1,289,075
MASTR Adjustable Rate Mortgages Trust Series 2007-1, Class I1A
4.18% (1 mo. USD Term SOFR + 0.504%) (2)		01/25/47		75,773,182		29,187,701

See accompanying Notes to Financial Statements.

99

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
MASTR Asset-Backed Securities Trust Series 2006-HE4, Class A3
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		11/25/36	$	11,382,589	$	3,237,460
MASTR Asset-Backed Securities Trust Series 2006-HE4, Class A4
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		11/25/36		3,161,830		898,392
MASTR Asset-Backed Securities Trust Series 2007-HE1, Class A3
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		05/25/37		7,155,767		6,997,788
MASTR Seasoned Securitization Trust Series 2004-1, Class 4A1
6.53% (7)		10/25/32		5,359		5,294
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		04/25/37		112,298,664		47,807,046
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A2B
4.13% (1 mo. USD Term SOFR + 0.454%) (2)		04/25/37		23,171,208		8,441,264
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A2C
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		04/25/37		48,540,016		17,771,820
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, Class A2C
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		05/25/37		13,050,546		9,578,902
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, Class A2D
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		05/25/37		6,444,926		4,758,128
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-3, Class A2C
4.15% (1 mo. USD Term SOFR + 0.474%) (2)		06/25/37		3,465,585		3,477,779

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-3, Class A2D
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		06/25/37	$	5,164,920	$	5,198,773
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-4, Class 2A2
4.03% (1 mo. USD Term SOFR + 0.354%) (2)		07/25/37		8,328,363		8,412,356
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-4, Class 2A3
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		07/25/37		6,104,897		6,192,999
Merrill Lynch Mortgage Investors Trust Series 2003-A6, Class 2A
6.73% (7)		10/25/33		101,873		100,846
Merrill Lynch Mortgage Investors Trust Series 2004-A4, Class A1
5.09% (7)		08/25/34		356,436		341,023
Merrill Lynch Mortgage Investors Trust Series 2005-A10, Class A
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		02/25/36		2,385		2,365
Merrill Lynch Mortgage Investors Trust Series 2006-WMC2, Class A2B
3.81%		03/25/37		25,796,462		4,798,893
Merrill Lynch Mortgage Investors Trust Series 2006-WMC2, Class A2D
3.81%		03/25/37		20,190,003		3,751,103
Merrill Lynch Mortgage-Backed Securities Trust Series 2007-2, Class 1A1
5.92% (1 yr. CMT + 2.400%) (2)		08/25/36		1,161,393		1,001,324
Mid-State Capital Corp. Trust Series 2005-1, Class A
5.75%		01/15/40		766,931		766,573
Mid-State Capital Corp. Trust Series 2006-1, Class A
5.79% (1)		10/15/40		3,160,946		3,178,076
Mid-State Trust XI Series 11, Class A1
4.86%		07/15/38		20,605		20,616
Morgan Stanley Mortgage Loan Trust Series 2004-11AR, Class 1A1
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		01/25/35		35,625		34,154
Morgan Stanley Mortgage Loan Trust Series 2004-7AR, Class 2A4
4.87% (7)		09/25/34		150,337		147,873

See accompanying Notes to Financial Statements.

100

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Morgan Stanley Mortgage Loan Trust Series 2005-2AR, Class A
4.05% (1 mo. USD Term SOFR + 0.374%) (2)		04/25/35	$	412,430	$	412,156
Morgan Stanley Mortgage Loan Trust Series 2006-7, Class 5A2
5.96% (7)		06/25/36		607,415		159,186
MortgageIT Trust Series 2005-1, Class 1A1
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		02/25/35		753,294		751,574
MortgageIT Trust Series 2005-4, Class A1
4.35% (1 mo. USD Term SOFR + 0.674%) (2)		10/25/35		759,144		763,006
MortgageIT Trust Series 2005-5, Class A1
4.31% (1 mo. USD Term SOFR + 0.634%) (2)		12/25/35		204,662		204,953
Nationstar Home Equity Loan Trust Series 2007-C, Class 2AV4
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		06/25/37		2,747,983		2,698,422
NLT Trust Series 2021-INV3, Class PT
0.00% (1),(4)		11/25/56		128,501,469		119,726,130
Oakwood Mortgage Investors, Inc. Series 2000-A, Class A5
8.16% (7)		09/15/29		20,571,005		2,125,075
OBX Trust Series 2021-NQM4, Class A1
1.96% (1),(7)		10/25/61		3,942,249		3,406,925
Ownit Mortgage Loan Trust Series 2006-4, Class A1
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		05/25/37		520,895		519,670
Ownit Mortgage Loan Trust Series 2006-4, Class A2D
4.27% (1 mo. USD Term SOFR + 0.594%) (2)		05/25/37		13,509,305		11,429,199
Popular ABS Mortgage Pass-Through Trust Series 2005-6, Class A5
3.26%		01/25/36		14,224,803		13,786,365
Popular ABS Mortgage Pass-Through Trust Series 2007-A, Class A3
4.10% (1 mo. USD Term SOFR + 0.424%) (2)		06/25/47		14,876,222		14,043,020

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Popular ABS, Inc. Series 1998-1, Class A2
7.48%		11/25/29	$	43,247	$	41,152
RALI Trust Series 2005-QO5, Class A1
4.86% (1 yr. MTA + 1.000%) (2)		01/25/46		2,945,507		2,284,830
RALI Trust Series 2006-QA1, Class A11
4.97% (7)		01/25/36		71,856		52,240
RALI Trust Series 2006-QA1, Class A21
4.97% (7)		01/25/36		6,653,351		4,461,937
RALI Trust Series 2006-QA7, Class 2A1
4.16% (1 mo. USD Term SOFR + 0.484%) (2)		08/25/36		10,907,492		10,134,311
RALI Trust Series 2006-QS10, Class AV (I/O)
0.57% (7)		08/25/36		9,464,268		180,255
RALI Trust Series 2006-QS12, Class 2A9
4.17% (1 mo. USD Term SOFR + 0.494%) (2)		09/25/36		95,922		70,293
RALI Trust Series 2006-QS2, Class 1AV (I/O)
0.48% (7)		02/25/36		35,239,303		588,454
RALI Trust Series 2006-QS7, Class AV (I/O)
0.75% (7)		06/25/36		15,369,044		404,635
RALI Trust Series 2006-QS8, Class AV (I/O)
0.79% (7)		08/25/36		38,714,778		1,076,623
RALI Trust Series 2007-QS1, Class 2A4
4.34% (1 mo. USD Term SOFR + 0.664%) (2)		01/25/37		7,711,923		5,305,053
RALI Trust Series 2007-QS10, Class AV (I/O)
0.48% (7)		09/25/37		30,432,993		591,852
RALI Trust Series 2007-QS4, Class 3AV (I/O)
0.38% (7)		03/25/37		17,480,096		320,884
RALI Trust Series 2007-QS5, Class AV (I/O)
0.28% (7)		03/25/37		20,948,926		237,913
RALI Trust Series 2007-QS6, Class AV (I/O)
0.35% (7)		04/25/37		47,436,151		614,426
RALI Trust Series 2007-QS7, Class 2AV (I/O)
0.37% (7)		06/25/37		18,061,901		194,416
RALI Trust Series 2007-QS8, Class AV (I/O)
0.45% (7)		06/25/37		41,050,772		709,866
Residential Asset Mortgage Products Trust Series 2004-SL3, Class A4
8.50%		12/25/31		7,605		3,359
Residential Asset Securities Corporation Trust Series 2006-KS3, Class M1
4.29% (1 mo. USD Term SOFR + 0.444%) (2)		04/25/36		30,041		29,976

See accompanying Notes to Financial Statements.

101

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Residential Asset Securitization Trust Series 2004-IP2, Class 1A1
5.97% (7)		12/25/34	$	96,486	$	96,314
Residential Asset Securitization Trust Series 2004-IP2, Class 2A1
3.75% (7)		12/25/34		8,952		8,252
Residential Asset Securitization Trust Series 2004-IP2, Class 3A1
5.95% (7)		12/25/34		169,218		166,966
Residential Asset Securitization Trust Series 2006-A7CB, Class 1A3
6.25%		07/25/36		1,382,862		1,011,556
Residential Funding Mortgage Securities I Trust Series 2005-SA5, Class 1A
3.77% (7)		11/25/35		1,399,831		626,221
RFMSI Trust Series 2006-SA3, Class 3A1
5.51% (7)		09/25/36		31,063		27,491
RFMSI Trust Series 2006-SA4, Class 2A1
5.43% (7)		11/25/36		23,648		20,108
RFMSI Trust Series 2007-SA2, Class 2A2
5.38% (7)		04/25/37		634,941		547,950
Saxon Asset Securities Trust Series 2007-2, Class A2C
4.03% (1 mo. USD Term SOFR + 0.354%) (2)		05/25/47		133,948		99,480
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2
2.80%		01/25/36		4,835,156		4,148,613
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB5, Class A3
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		06/25/36		163,109		111,586
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR1, Class A2A
4.01% (1 mo. USD Term SOFR + 0.334%) (2)		02/25/37		4,758,215		1,916,694
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR1, Class A2B
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		02/25/37		23,554,651		9,486,994
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR2, Class A2
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		02/25/37		30,552,775		13,683,008
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR5, Class A2A
4.05% (1 mo. USD Term SOFR + 0.374%) (2)		05/25/37		9,188,716		7,209,550

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR5, Class A2C
4.49% (1 mo. USD Term SOFR + 0.814%) (2)		05/25/37	$	6,930,050	$	5,436,659
Securitized Asset-Backed Receivables LLC Trust Series 2007-NC1, Class A2B
4.09% (1 mo. USD Term SOFR + 0.414%) (2)		12/25/36		23,024,200		11,420,505
Securitized Asset-Backed Receivables LLC Trust Series 2007-NC2, Class A2B
4.07% (1 mo. USD Term SOFR + 0.394%) (2)		01/25/37		11,461,337		10,032,194
Sequoia Mortgage Trust Series 2003-8, Class A1
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		01/20/34		216		212
Sequoia Mortgage Trust Series 2004-4, Class A
4.68% (6 mo. USD Term SOFR + 0.948%) (2)		05/20/34		32,929		31,237
SG Mortgage Securities Trust Series 2007-NC1, Class A2
4.27% (1 mo. USD Term SOFR + 0.594%) (1),(2)		12/25/36		10,736,086		6,374,990
STARM Mortgage Loan Trust Series 2007-3, Class 1A1
6.56% (7)		06/25/37		962,531		435,446
Structured Adjustable Rate Mortgage Loan Trust Series 2004-1, Class 3A3
5.80% (7)		02/25/34		2,544		2,511
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 2A
4.62% (7)		09/25/34		871,816		855,047
Structured Adjustable Rate Mortgage Loan Trust Series 2004-14, Class 1A
5.18% (7)		10/25/34		10,698		10,290
Structured Adjustable Rate Mortgage Loan Trust Series 2004-14, Class 2A
5.31% (7)		10/25/34		1,462,463		1,445,048
Structured Adjustable Rate Mortgage Loan Trust Series 2004-15, Class A
5.72% (7)		10/25/34		869,360		847,393
Structured Adjustable Rate Mortgage Loan Trust Series 2004-17, Class A1
3.99% (7)		11/25/34		18,180		16,541

See accompanying Notes to Financial Statements.

102

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Structured Adjustable Rate Mortgage Loan Trust Series 2004-20, Class 1A2
4.63% (7)		01/25/35	$	174,566	$	169,196
Structured Adjustable Rate Mortgage Loan Trust Series 2005-12, Class 3A1
4.74% (7)		06/25/35		179,093		150,782
Structured Adjustable Rate Mortgage Loan Trust Series 2005-18, Class 7A3
4.39% (7)		09/25/35		8,512,034		4,695,718
Structured Adjustable Rate Mortgage Loan Trust Series 2006-12, Class 1A1
4.11% (1 mo. USD Term SOFR + 0.434%) (2)		01/25/37		11,259,023		11,167,483
Structured Asset Mortgage Investments II Trust Series 2005-AR8, Class A1A
4.35% (1 mo. USD Term SOFR + 0.674%) (2)		02/25/36		182,133		156,052
Structured Asset Mortgage Investments II Trust Series 2005-AR8, Class A3
5.67% (1 yr. MTA + 2.000%) (2)		02/25/36		5,875,242		5,080,429
Structured Asset Mortgage Investments II Trust Series 2006-AR7, Class A1A
4.21% (1 mo. USD Term SOFR + 0.534%) (2)		08/25/36		7,859,401		6,631,067
Structured Asset Mortgage Investments II Trust Series 2006-AR8, Class A1B
3.91% (1 mo. USD Term SOFR + 0.234%) (2)		10/25/36		6,734,200		5,900,340
Structured Asset Mortgage Investments II Trust Series 2007-AR6, Class A1
5.36% (1 yr. MTA + 1.500%) (2)		08/25/47		66,377,086		57,487,574
Structured Asset Securities Corp. Mortgage Pass-Through Certificates Series 2003-26A, Class 3A5
5.09% (7)		09/25/33		44,037		42,820
Structured Asset Securities Corp. Trust Series 2005-5, Class 2A4
5.50%		04/25/35		615,992		579,115
Thornburg Mortgage Securities Trust Series 2004-4, Class 2A
5.22% (7)		12/25/44		47,715		46,026
Wachovia Mortgage Loan Trust LLC Series 2006-ALT1, Class A3
1.68% (1 mo. USD Term SOFR + 0.574%) (2)		01/25/37		8,706,893		2,949,440

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Wachovia Mortgage Loan Trust LLC Series 2006-AMN1, Class A3
1.75% (1 mo. USD Term SOFR + 0.594%) (2)		08/25/36	$	13,732,915	$	4,413,674
WaMu Asset-Backed Certificates Trust Series 2007-HE1, Class 2A2
4.01% (1 mo. USD Term SOFR + 0.334%) (2)		01/25/37		2,620,522		1,184,152
WaMu Asset-Backed Certificates Trust Series 2007-HE1, Class 2A4
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		01/25/37		8,120,297		3,667,960
WaMu Mortgage Pass-Through Certificates Trust Series 2003-AR6, Class A1
6.11% (7)		06/25/33		656,293		647,041
WaMu Mortgage Pass-Through Certificates Trust Series 2004-AR3, Class A2
5.30% (7)		06/25/34		9,807		9,398
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR1, Class A1A
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		01/25/45		227,510		223,018
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR13, Class A1A1
4.37% (1 mo. USD Term SOFR + 0.694%) (2)		10/25/45		1,388,856		1,353,591
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR14, Class 2A1
4.69% (7)		12/25/35		843,296		790,195
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR15, Class A1A1
4.31% (1 mo. USD Term SOFR + 0.634%) (2)		11/25/45		10,753,231		10,199,036
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR17, Class A1A
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		12/25/45		4,821,501		4,488,313
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR19, Class A1A
4.37% (1 mo. USD Term SOFR + 0.694%) (2)		12/25/45		4,058,357		4,060,340

See accompanying Notes to Financial Statements.

103

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR2, Class 2A1A
4.41% (1 mo. USD Term SOFR + 0.734%) (2)		01/25/45	$	209,075	$	210,421
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR2, Class 2A2
4.45% (1 mo. USD Term SOFR + 0.774%) (2)		01/25/45		17,780		17,889
4.55% (1 mo. USD Term SOFR + 0.874%) (2)		01/25/45		742,425		747,771
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR6, Class 2A1
4.25% (1 mo. USD Term SOFR + 0.574%) (2)		04/25/45		36,862		36,022
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR8, Class 1A1
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		07/25/45		47,294		46,254
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR10, Class 1A4
4.44% (7)		09/25/36		5,141,726		4,554,286
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR16, Class 3A1
4.14% (7)		12/25/36		287,173		261,303
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR3, Class A1A
4.86% (1 yr. MTA + 1.000%) (2)		02/25/46		6,766,754		6,299,346
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR4, Class 1A1
4.02% (1 yr. MTA + 0.940%) (2)		05/25/46		2,302,589		2,109,207
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR7, Class 2A
4.84% (1 yr. MTA + 0.980%) (2)		07/25/46		3,570,104		3,448,707
WaMu Mortgage Pass-Through Certificates Trust Series 2007-HY7, Class 4A2
4.65% (7)		07/25/37		116,595		107,389
WaMu Mortgage Pass-Through Certificates Trust Series 2007-OA1, Class A1A
4.56% (1 yr. MTA + 0.700%) (2)		02/25/47		6,138,427		5,765,642

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2005-3, Class 2A3
4.34% (1 mo. USD Term SOFR + 0.664%) (2)		05/25/35	$	906,486	$	729,515
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2005-4, Class CB1
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		06/25/35		1,896,096		1,655,660
Washington Mutual MSC Mortgage Pass-Through Certificates Trust Series 2002-AR1, Class 1A1
5.98% (7)		11/25/30		8,092		8,127
Wells Fargo Alternative Loan Trust Series 2007-PA5, Class 1A1
6.25%		11/25/37		56,868		48,830
Wells Fargo Mortgage-Backed Securities Trust Series 2006-AR1, Class 1A1
6.02% (7)		03/25/36		886,755		899,414
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $3,350,786,787)						2,764,048,298
CORPORATE BONDS — 16.9%
Aerospace/Defense — 0.0%
General Electric Co.
4.30% (3 mo. USD Term SOFR + 0.642%) (2)		05/05/26		1,785,000		1,786,089
Agriculture — 0.0%
Altria Group, Inc.
3.70%		02/04/51		995,000		685,923
British American Tobacco PLC (United Kingdom)
4.75% (5 yr. EURIBOR ICE Swap + 2.284%) (2),(9),(10),(11)		12/31/99	EUR	800,000		901,177
Imperial Brands Finance PLC (United Kingdom)
3.50% (1)		07/26/26		4,997,000		4,984,708
4.50% (1)		06/30/28		3,310,000		3,312,979
						9,884,787

See accompanying Notes to Financial Statements.

104

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Airlines — 0.4%
American Airlines Pass-Through Trust Series 2017-2, Class AA
3.35%		04/15/31	$	11,848,989	$	11,401,808
Delta Air Lines Pass-Through Trust Series 2020-1, Class AA
2.00%		12/10/29		60,499,990		58,561,570
JetBlue Airways Corp./JetBlue Loyalty LP
9.88% (1)		09/20/31		1,832,000		1,733,200
JetBlue Pass-Through Trust Series 2020-1, Class A
4.00%		05/15/34		7,165,481		6,763,211
United Airlines Pass-Through Trust Series 2018-1, Class AA
3.50%		09/01/31		21,685,012		20,935,578
United Airlines Pass-Through Trust Series 2023-1, Class A
5.80%		07/15/37		20,159,483		20,773,138
						120,168,505
Auto Manufacturers — 0.2%
Volkswagen Bank GmbH (Germany)
3.63% (9),(11)		10/02/32	EUR	10,000,000		11,211,135
3.75% (9),(11)		12/10/32	EUR	8,000,000		9,019,881
Volkswagen Financial Services Australia Pty. Ltd. (Germany)
5.11% (9),(11)		06/13/29	AUD	6,200,000		4,148,035
Volkswagen Group of America Finance LLC (Germany)
5.65% (1)		03/25/32		4,800,000		4,877,184
Volkswagen International Finance NV (Germany)
7.88% (9 yr. EUR Swap + 4.783%) (2),(9),(10)		09/06/32	EUR	12,500,000		15,948,894
						45,205,129
Auto Parts & Equipment — 0.0%
Robert Bosch Finance LLC
3.25% (9),(11)		05/28/31	EUR	100,000		112,834
Robert Bosch GmbH
4.38% (9)		06/02/43	EUR	6,000,000		6,633,698
						6,746,532
Banks — 2.5%
Bank of America Corp.
1.73% (1 day USD SOFR + 0.960%) (2)		07/22/27		38,542,000		38,222,101
2.09% (1 day USD SOFR + 1.060%) (2)		06/14/29		110,562,000		105,159,941
2.30% (1 day USD SOFR + 1.220%) (2)		07/21/32		2,000		1,766
2.69% (1 day USD SOFR + 1.320%) (2)		04/22/32		4,000		3,631
3.42% (3 mo. USD Term SOFR + 1.302%) (2)		12/20/28		1,587,000		1,559,228

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
3.97% (3 mo. USD Term SOFR + 1.332%) (2)		03/05/29	$	336,000	$	333,094
4.58% (3 mo. USD Term SOFR + 0.912%) (2)		12/01/26		50,000,000		50,158,000
5.47% (1 day USD SOFR + 1.650%) (2)		01/23/35		525,000		535,768
Citibank NA
4.91%		05/29/30		9,015,000		9,160,863
Citigroup, Inc.
1.46% (1 day USD SOFR + 0.770%) (2)		06/09/27		22,971,000		22,838,457
2.52% (1 day USD SOFR + 1.177%) (2)		11/03/32		14,658,000		12,947,705
3.06% (1 day USD SOFR + 1.351%) (2)		01/25/33		4,000		3,613
Goldman Sachs Group, Inc.
1.54% (1 day USD SOFR + 0.818%) (2)		09/10/27		75,070,000		74,100,846
1.95% (1 day USD SOFR + 0.913%) (2)		10/21/27		1,337,000		1,318,710
2.38% (1 day USD SOFR + 1.248%) (2)		07/21/32		4,000		3,531
4.15% (1 day USD SOFR + 0.900%) (2)		10/21/29		6,675,000		6,614,191
5.02% (1 day USD SOFR + 1.420%) (2)		10/23/35		10,436,000		10,250,761
5.54% (1 day USD SOFR + 1.380%) (2)		01/28/36		5,605,000		5,701,462
HSBC Holdings PLC (United Kingdom)
2.21% (1 day USD SOFR + 1.285%) (2)		08/17/29		2,000		1,893
JPMorgan Chase & Co.
1.47% (1 day USD SOFR + 0.765%) (2)		09/22/27		14,377,000		14,180,466
1.58% (1 day USD SOFR + 0.885%) (2)		04/22/27		19,179,000		19,147,930
1.95% (1 day USD SOFR + 1.065%) (2)		02/04/32		9,805,000		8,644,480

See accompanying Notes to Financial Statements.

105

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
2.07% (1 day USD SOFR + 1.015%) (2)		06/01/29	$	3,013,000	$	2,866,930
2.18% (1 day USD SOFR + 1.890%) (2)		06/01/28		2,490,000		2,427,227
2.55% (1 day USD SOFR + 1.180%) (2)		11/08/32		20,371,000		18,140,375
2.58% (3 mo. USD Term SOFR + 1.250%) (2)		04/22/32		19,039,000		17,228,581
2.95% (1 day USD SOFR + 1.170%) (2)		02/24/28		23,236,000		22,941,600
2.96% (1 day USD SOFR + 1.260%) (2)		01/25/33		7,747,000		7,027,923
3.70% (3 mo. USD Term SOFR + 1.422%) (2)		05/06/30		2,876,000		2,806,142
4.01% (3 mo. USD Term SOFR + 1.382%) (2)		04/23/29		2,671,000		2,648,938
4.45% (3 mo. USD Term SOFR + 1.592%) (2)		12/05/29		8,325,000		8,335,989
5.01% (1 day USD SOFR + 1.310%) (2)		01/23/30		10,505,000		10,654,486
5.50% (1 day USD SOFR + 1.315%) (2)		01/24/36		2,715,000		2,782,060
Morgan Stanley
1.51% (1 day USD SOFR + 0.858%) (2)		07/20/27		1,000,000		990,860
1.79% (1 day USD SOFR + 1.034%) (2)		02/13/32		4,798,000		4,161,449
1.93% (1 day USD SOFR + 1.020%) (2)		04/28/32		2,890,000		2,505,283
2.24% (1 day USD SOFR + 1.178%) (2)		07/21/32		28,402,000		24,877,312
2.51% (1 day USD SOFR + 1.200%) (2)		10/20/32		455,000		402,120
2.94% (1 day USD SOFR + 1.290%) (2)		01/21/33		2,483,000		2,232,937

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
5.32% (1 day USD SOFR + 1.555%) (2)		07/19/35	$	2,325,000	$	2,330,929
5.83% (1 day USD SOFR + 1.580%) (2)		04/19/35		235,000		244,017
Morgan Stanley Bank NA
5.02% (1 day USD SOFR + 0.906%) (2)		01/12/29		17,635,000		17,830,043
Morgan Stanley Private Bank NA
4.20% (1 day USD SOFR + 0.780%) (2)		11/17/28		5,000,000		4,983,700
4.47% (1 day USD SOFR + 1.020%) (2)		11/19/31		32,433,000		31,958,181
4.73% (1 day USD SOFR + 1.080%) (2)		07/18/31		3,277,000		3,268,742
PNC Financial Services Group, Inc.
5.07% (1 day USD SOFR + 1.933%) (2)		01/24/34		3,000		3,006
5.58% (1 day USD SOFR + 1.394%) (2)		01/29/36		300,000		306,687
5.68% (1 day USD SOFR + 1.902%) (2)		01/22/35		1,465,000		1,508,511
Santander U.K. Group Holdings PLC (United Kingdom)
2.47% (1 day USD SOFR + 1.220%) (2)		01/11/28		7,952,000		7,820,712
3.82% (3 mo. USD LIBOR + 1.400%) (2)		11/03/28		2,200,000		2,172,478
U.S. Bancorp
4.65% (1 day USD SOFR + 1.230%) (2)		02/01/29		70,000		70,296
Wells Fargo & Co.
2.39% (1 day USD SOFR + 2.100%) (2)		06/02/28		61,030,000		59,575,655
2.88% (3 mo. USD Term SOFR + 1.432%) (2)		10/30/30		69,972,000		66,044,472
3.35% (1 day USD SOFR + 1.500%) (2)		03/02/33		2,000		1,836
4.90% (1 day USD SOFR + 2.100%) (2)		07/25/33		3,000		2,987

See accompanying Notes to Financial Statements.

106

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
5.57% (1 day USD SOFR + 1.740%) (2)		07/25/29	$	14,844,000	$	15,183,779
						727,224,680
Beverages — 0.1%
Bacardi Ltd.
5.15% (1)		05/15/38		2,881,000		2,675,095
Coca-Cola HBC Finance BV (Italy)
4.00% (9),(11)		10/01/33	EUR	12,100,000		14,067,650
Maple Parent Holdings Corp.
4.73% (9),(11)		03/26/35	EUR	8,625,000		9,934,941
4.73% (1)		03/26/35	EUR	9,980,000		11,495,735
						38,173,421
Biotechnology — 0.0%
Amgen, Inc.
5.65%		02/19/56		4,705,000		4,561,121
Illumina, Inc.
2.55%		03/23/31		200,000		179,324
Royalty Pharma PLC
1.75%		09/02/27		1,295,000		1,248,484
						5,988,929
Chemicals — 0.2%
FIS Fabbrica Italiana Sintetici SpA
5.28% (3 mo. EUR EURIBOR + 3.250%) (1),(2)		02/05/31	EUR	3,800,000		4,301,432
International Flavors & Fragrances, Inc.
1.83% (1)		10/15/27		1,615,000		1,549,657
2.30% (1)		11/01/30		48,565,000		43,244,219
3.27% (1)		11/15/40		10,351,000		7,753,623
Novonesis Novozymes B (Denmark)
4.00% (9),(11)		03/19/37	EUR	10,000,000		11,408,622
						68,257,553
Commercial Services — 0.2%
AA Bond Co. Ltd. (United Kingdom)
5.50% (9)		07/31/50	GBP	7,537,000		9,645,934
Dalrymple Bay Finance Pty. Ltd. (Australia)
6.23% (11)		03/24/31	AUD	19,170,000		13,152,249
Raven Acquisition Holdings LLC
6.88% (1)		11/15/31		3,500,000		3,396,155
Rollins, Inc.
5.25%		02/24/35		8,000,000		7,989,120
VT Topco, Inc.
8.50% (1)		08/15/30		10,122,000		10,303,285
						44,486,743

Issues	Maturity Date		Principal Amount		Value
Computers — 0.1%
Dell International LLC/EMC Corp.
5.00%		04/01/30	$	24,890,000	$	25,211,330
Diversified Financial Services — 0.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
2.45%		10/29/26		11,203,000		11,076,630
3.00%		10/29/28		58,242,000		56,095,782
Air Lease Corp.
2.20%		01/15/27		18,695,000		18,358,677
3.25%		10/01/29		2,090,000		1,984,601
4.63%		10/01/28		2,000,000		1,991,280
American Express Co.
4.92% (1 day USD SOFR + 1.220%) (2)		07/20/33		15,935,000		15,993,003
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27		53,870,000		52,093,368
3.25% (1)		02/15/27		5,900,000		5,843,773
Lseg U.S. Fin Corp. (United Kingdom)
5.25% (1)		03/23/36		11,895,000		11,785,923
						175,223,037
Electric — 2.1%
Alliant Energy Corp.
5.75% (5 yr. CMT + 2.077%) (2)		04/01/56		26,430,000		25,699,739
Alliant Energy Finance LLC
3.60% (1)		03/01/32		4,515,000		4,176,601
5.95% (1)		03/30/29		4,120,000		4,274,459
American Electric Power Co., Inc.
5.80% (5 yr. CMT + 2.128%) (2)		03/15/56		58,030,000		57,317,392
6.05% (5 yr. CMT + 1.940%) (2)		03/15/56		11,615,000		11,524,287
Amprion GmbH (Germany)
4.00% (9)		05/21/44	EUR	3,800,000		4,059,746
4.07% (9),(11)		01/15/38	EUR	11,300,000		12,805,942
Appalachian Power Co.
5.65%		04/01/34		18,900,000		19,493,460
Arizona Public Service Co.
6.35%		12/15/32		2,444,000		2,624,856
Ausgrid Finance Pty. Ltd. (Australia)
5.95% (9),(11)		12/10/35	AUD	14,370,000		9,627,655
CenterPoint Energy, Inc.
5.95% (5 yr. CMT + 2.223%) (2)		04/01/56		39,005,000		38,591,547
Comision Federal de Electricidad (Mexico)
3.35% (9)		02/09/31		3,368,000		3,014,528

See accompanying Notes to Financial Statements.

107

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
Dominion Energy, Inc.
6.00% (5 yr. CMT + 2.262%) (2)		02/15/56	$	11,960,000	$	11,883,815
6.20% (5 yr. CMT + 2.006%) (2),(11)		02/15/56		35,570,000		35,292,198
Duke Energy Carolinas LLC
4.00%		09/30/42		1,239,000		1,017,764
Duke Energy Florida LLC
5.88%		11/15/33		2,409,000		2,559,370
Electricite de France SA
2.00% (9),(11)		12/09/49	EUR	50,000,000		34,281,402
4.38% (5 yr. EURIBOR ICE Swap + 2.074%) (2),(9),(10),(11)		12/31/99	EUR	14,200,000		15,890,361
5.64% (9),(11)		08/28/35	AUD	9,200,000		6,027,110
6.38% (1)		01/13/55		1,885,000		1,922,210
EnBW International Finance BV (Germany)
5.79% (9),(11)		02/26/36	AUD	6,690,000		4,430,822
Enel SpA (Italy)
4.50% (5 yr. EURIBOR ICE Swap + 1.821%) (9),(2),(10),(11)		10/14/34	EUR	15,537,000		16,961,530
Entergy Corp.
5.88% (5 yr. CMT + 2.179%) (2)		06/15/56		31,755,000		31,348,854
6.10% (5 yr. CMT + 2.013%) (2)		06/15/56		11,840,000		11,675,069
FirstEnergy Pennsylvania Electric Co.
3.25% (1)		03/15/28		125,000		122,253
4.30% (1)		01/15/29		13,381,000		13,298,305
FirstEnergy Transmission LLC
2.87% (1)		09/15/28		40,514,000		38,997,156
Jersey Central Power & Light Co.
2.75% (1)		03/01/32		820,000		737,295
6.40%		05/15/36		1,404,000		1,504,905
MVM Energetika Zrt (Hungary)
6.50% (9)		03/13/31		2,988,000		3,084,722
Network Finance Co. Pty. Ltd. (Australia)
3.50% (9),(11)		09/05/33	EUR	6,215,000		6,965,787
Niagara Mohawk Power Corp.
3.03% (1)		06/27/50		3,543,000		2,217,705
4.28% (1)		10/01/34		4,375,000		4,071,900
Public Service Co. of Oklahoma
5.45%		01/15/36		12,140,000		12,239,062

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
RTE Reseau de Transport d’Electricite SADIR (France)
3.75% (9)		04/30/44	EUR	4,800,000	$	5,069,476
South Eastern Power Networks PLC (United Kingdom)
4.10% (9),(11)		03/17/38	EUR	1,000,000		1,142,233
Southern Co.
3.75% (5 yr. CMT + 2.915%) (2)		09/15/51		65,307,000		64,758,421
6.00% (5 yr. CMT + 1.993%) (2)		04/01/58		37,690,000		37,900,687
Southwestern Electric Power Co.
2.75%		10/01/26		26,488,000		26,293,313
5.20%		04/01/36		6,595,000		6,489,612
5.30%		04/01/33		29,341,000		29,808,696
						621,202,245
Electronics — 0.0%
Amphenol Technologies Holding GmbH
3.63%		03/30/31	EUR	1,830,000		2,117,613
Energy-Alternate Sources — 0.0%
Alta Wind Holdings LLC
7.00% (1)		06/30/35		2,923,028		2,783,541
Engineering & Construction — 0.1%
Cellnex Finance Co. SA (Spain)
3.88% (9),(11)		01/19/36	EUR	8,300,000		9,191,630
Heathrow Funding Ltd. (United Kingdom)
3.88% (9)		01/16/38	EUR	9,465,000		10,569,353
5.88% (9)		05/13/43	GBP	4,340,000		5,377,419
						25,138,402
Entertainment — 0.1%
Allwyn Entertainment Financing U.K. PLC (Switzerland)
4.63% (9),(11)		08/15/31	EUR	400,000		443,445
Betclic Everest Group SAS (France)
5.13% (9),(11)		12/10/31	EUR	1,000,000		1,137,970
Discovery Global Holdings, Inc.
5.14%		03/15/52		8,440,000		5,124,768
Flutter Treasury DAC (Ireland)
5.00% (1)		04/29/29	EUR	2,320,000		2,703,604
5.88% (1)		06/04/31		17,745,000		17,553,886
6.13% (9)		06/04/31	GBP	3,000,000		3,842,043
Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)
8.00% (1)		08/01/30		2,115,000		2,029,639
Voyager Parent LLC
9.25% (1)		07/01/32		3,468,000		3,617,471
						36,452,826
Environmental Control — 0.0%
Biffa Group Holdings Ltd, Reg. S (United Kingdom)
7.38% (9),(11)		06/15/31	GBP	200,000		259,064

See accompanying Notes to Financial Statements.

108

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Environmental Control (Continued)
Luna 2 5 Sarl (Luxemburg)
5.50% (9)		07/01/32	EUR	1,900,000	$	2,161,881
Seche Environnement SACA
5.87% (5 yr. EURIBOR ICE Swap + 3.707%) (2),(9),(10)		01/09/31	EUR	6,200,000		6,975,549
						9,396,494
Food — 0.4%
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings
4.38%		02/02/52		20,036,000		15,236,376
Pilgrim’s Pride Corp.
3.50%		03/01/32		56,833,000		51,630,507
6.88%		05/15/34		4,500,000		4,865,535
Smithfield Foods, Inc.
2.63% (1)		09/13/31		14,435,000		12,698,181
3.00% (1)		10/15/30		8,890,000		8,134,795
4.25% (1)		02/01/27		24,855,000		24,842,821
						117,408,215
Gas — 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
9.50% (1)		06/01/30		2,094,000		2,221,546
Brooklyn Union Gas Co.
4.87% (1)		08/05/32		1,700,000		1,666,714
6.39% (1)		09/15/33		1,120,000		1,194,570
CenterPoint Energy Resources Corp.
5.40%		07/01/34		2,500,000		2,558,450
Nederlandse Gasunie NV (Netherlands)
3.75% (9),(11)		01/15/38	EUR	4,900,000		5,499,723
NiSource, Inc.
5.75% (5 yr. CMT + 2.035%) (2)		07/15/56		45,690,000		45,025,210
Nortegas Energia Grupo SL (Spain)
4.13% (9),(11)		01/21/33	EUR	16,700,000		18,657,173
Piedmont Natural Gas Co., Inc.
2.50%		03/15/31		7,272,000		6,569,379
5.40%		06/15/33		3,070,000		3,153,657
Redexis SA
4.38% (9),(11)		05/30/31	EUR	11,800,000		13,662,850
Southern Co. Gas Capital Corp.
4.40%		05/30/47		50,000		41,021
						100,250,293
Health Care-Products — 0.3%
Medline Borrower LP
3.88% (1)		04/01/29		74,040,000		71,690,711

Issues	Maturity Date		Principal Amount		Value
Health Care-Products (Continued)
Sartorius Finance BV (Germany)
4.50% (9)		09/14/32	EUR	2,000,000	$	2,360,765
4.88% (9)		09/14/35	EUR	11,400,000		13,597,170
						87,648,646
Health Care-Services — 1.3%
Centene Corp.
2.50%		03/01/31		3,387,000		2,840,914
2.63%		08/01/31		23,000,000		19,253,300
3.00%		10/15/30		48,742,000		42,721,876
Cigna Group
5.25%		01/15/36		55,025,000		55,180,170
Elevance Health, Inc.
4.60%		09/15/32		10,000,000		9,847,500
5.00%		01/15/36		22,790,000		22,338,302
5.20%		02/15/35		28,644,000		28,646,864
5.38%		06/15/34		9,507,000		9,646,373
Eurofins Scientific SE (Luxemburg)
5.75% (3 mo. EUR EURIBOR + 3.185%) (2),(9),(10),(11)		12/31/99	EUR	100,000		118,309
Fresenius Medical Care U.S. Finance III, Inc. (Germany)
1.88% (1)		12/01/26		67,592,000		66,324,650
HCA, Inc.
2.38%		07/15/31		563,000		497,951
Humana, Inc.
5.55%		05/01/35		49,285,000		48,786,729
Kedrion SpA (Italy)
6.50% (1)		09/01/29		867,000		836,733
ModivCare, Inc.
1.00% (1),(4),(8),(12)		10/01/29		44,324,700		664,871
Molina Healthcare, Inc.
6.25% (1)		01/15/33		4,686,000		4,546,592
6.50% (1)		02/15/31		3,793,000		3,742,477
Premier Health Partners
2.91%		11/15/26		2,229,000		2,199,800
Star Parent, Inc.
9.00% (1)		10/01/30		6,632,000		6,903,514
UnitedHealth Group, Inc.
4.75%		05/15/52		2,910,000		2,450,307
5.63%		07/15/54		23,090,000		22,006,386
Universal Health Services, Inc.
1.65%		09/01/26		45,000,000		44,474,850
						394,028,468
Housewares — 0.0%
Newell Brands, Inc.
7.38%		04/01/36		5,335,000		4,929,540

See accompanying Notes to Financial Statements.

109

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Insurance — 0.7%
Acrisure LLC/Acrisure Finance, Inc.
8.25% (1)		02/01/29	$	3,300,000	$	3,268,782
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.50% (1)		10/01/31		1,154,000		1,139,413
7.00% (1)		01/15/31		1,067,000		1,076,710
7.38% (1)		10/01/32		1,157,000		1,137,840
Athene Global Funding
1.61% (1)		06/29/26		31,415,000		31,202,321
Farmers Exchange Capital
7.05% (1)		07/15/28		13,283,000		13,801,967
7.20% (1)		07/15/48		18,415,000		18,693,987
Farmers Exchange Capital II
6.15% (3 mo. USD Term SOFR + 4.006%) (1),(2)		11/01/53		57,061,000		55,644,746
Farmers Exchange Capital III
5.45% (3 mo. USD Term SOFR + 3.716%) (1),(2)		10/15/54		49,425,000		44,741,981
Farmers Insurance Exchange
4.75% (3 mo. USD LIBOR + 3.231%) (1),(2)		11/01/57		23,060,000		19,347,340
Marsh & McLennan Cos., Inc.
4.95%		03/15/36		4,715,000		4,671,811
Teachers Insurance & Annuity Association of America
3.30% (1)		05/15/50		1,135,000		761,267
						195,488,165
Internet — 1.1%
Airbnb, Inc.
5.25%		03/16/36		4,775,000		4,778,008
Alphabet, Inc.
3.50%		11/06/38	EUR	860,000		940,446
4.80%		02/15/36		10,070,000		10,028,109
5.65%		02/15/56		39,710,000		39,600,003
Amazon.com, Inc.
4.85%		03/16/64	EUR	31,395,000		35,967,850
4.88%		03/13/36		49,540,000		49,098,599
5.45%		11/20/55		22,235,000		21,298,684
5.80%		03/13/56		10,235,000		10,214,632
Booking Holdings, Inc.
3.88%		03/21/45	EUR	1,310,000		1,335,410
4.00%		03/01/44	EUR	3,865,000		3,995,057
Cerved Group SpA (Italy)
7.40% (3 mo. EUR EURIBOR + 5.250%) (2),(9)		02/15/29	EUR	2,825,000		2,860,072

Issues	Maturity Date		Principal Amount		Value
Internet (Continued)
Getty Images, Inc.
10.50% (1)		11/15/30	$	7,475,000	$	6,758,671
Meta Platforms, Inc.
4.88%		11/15/35		37,260,000		36,567,709
5.50%		11/15/45		77,000,000		72,965,200
5.55%		08/15/64		5,000,000		4,504,500
5.63%		11/15/55		9,760,000		9,154,490
						310,067,440
Investment Companies — 0.1%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
9.00%		06/15/30		16,598,000		15,602,286
9.75%		01/15/29		11,566,000		11,391,584
10.00% (1)		11/15/29		437,000		430,419
						27,424,289
Iron & Steel — 0.0%
CSN Inova Ventures (Brazil)
6.75% (9)		01/28/28		3,512,000		2,581,039
CSN Resources SA (Brazil)
8.88% (9)		12/05/30		7,451,000		5,244,982
						7,826,021
Lodging — 0.1%
Las Vegas Sands Corp.
5.63%		06/15/28		29,515,000		29,920,831
6.00%		06/14/30		1,130,000		1,164,273
						31,085,104
Machinery-Construction & Mining — 0.1%
Eaton Capital ULC
3.55%		03/10/34	EUR	10,610,000		11,999,536
4.00%		03/10/38	EUR	11,155,000		12,733,130
						24,732,666
Machinery-Diversified — 0.0%
Oregon Tool Lux LP
7.88% (1)		10/15/29		12,270,896		2,156,487
Media — 0.5%
CCO Holdings LLC/CCO Holdings Capital Corp.
7.38% (1)		02/01/36		4,305,000		4,287,048
Charter Communications Operating LLC/Charter Communications Operating Capital
2.80%		04/01/31		10,000,000		8,978,500
3.50%		06/01/41		4,605,000		3,234,736
3.50%		03/01/42		9,605,000		6,581,538
3.90%		06/01/52		18,000		11,470
4.80%		03/01/50		3,458,000		2,570,643
5.13%		07/01/49		14,837,000		11,405,053
5.38%		04/01/38		505,000		453,995
5.85%		12/01/35		29,325,000		28,857,853

See accompanying Notes to Financial Statements.

110

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Media (Continued)
CSC Holdings LLC
4.50% (1)		11/15/31	$	775,000	$	460,265
4.63% (1)		12/01/30		4,879,000		1,736,290
5.75% (1)		01/15/30		175,000		66,271
6.50% (1)		02/01/29		41,539,000		26,550,483
11.75% (1)		01/31/29		30,907,000		22,399,539
Time Warner Cable LLC
4.50%		09/15/42		27,580,000		20,743,745
5.50%		09/01/41		6,812,000		5,866,699
5.88%		11/15/40		2,016,000		1,822,907
Virgin Media O2 Vendor Financing Notes VI DAC
8.50% (1)		03/15/33		7,669,000		6,691,893
						152,718,928
Mining — 0.0%
Corp. Nacional del Cobre de Chile
5.13% (9)		02/02/33		8,908,000		8,820,969
Miscellaneous Manufacturers — 0.2%
Dyno Nobel Ltd. (Australia)
5.82% (11)		08/08/35	AUD	13,480,000		8,839,520
Smiths Group PLC (United Kingdom)
3.63% (9),(11)		11/13/33	EUR	20,925,000		23,261,599
Vossloh AG (Germany)
5.38% (-5 yr. EURIBOR ICE Swap + 7.860%) (2),(9),(10),(11)		01/12/33	EUR	18,500,000		21,733,272
						53,834,391
Oil & Gas — 0.2%
Ecopetrol SA (Colombia)
8.88%		01/13/33		11,674,000		12,295,057
KazMunayGas National Co. JSC (Kazakhstan)
3.50% (1)		04/14/33		1,443,000		1,290,432
3.50% (9)		04/14/33		12,735,000		11,388,528
Petroleos Mexicanos
6.75%		09/21/47		4,181,000		3,332,759
Sunoco LP
5.63% (1)		07/15/34		3,735,000		3,678,900
7.88% (5 yr. CMT + 4.230%) (1),(2),(10)		09/18/30		18,486,000		18,863,484
						50,849,160
Oil & Gas Services — 0.1%
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.
4.74%		03/11/46	EUR	13,105,000		14,965,193
Packaging & Containers — 0.5%
Amcor Flexibles North America, Inc.
5.10%		03/17/30		19,322,000		19,539,566
5.50%		03/17/35		3,585,000		3,632,429

Issues	Maturity Date		Principal Amount		Value
Packaging & Containers (Continued)
Amcor U.K. Finance PLC (Australia)
3.75%		02/20/33	EUR	19,140,000	$	21,313,885
3.95%		05/29/32	EUR	4,570,000		5,197,575
AptarGroup, Inc.
4.75%		03/30/31		15,050,000		14,952,175
Ardagh Group SA
9.50% (1)		12/01/30		1,200,000		1,255,200
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		4,280,000		3,600,678
Berry Global, Inc.
1.65%		01/15/27		16,949,000		16,599,851
4.88% (1)		07/15/26		38,211,000		38,222,081
5.65%		01/15/34		1,570,000		1,606,283
SIG Combibloc PurchaseCo SARL (Switzerland)
4.00% (9),(11)		04/07/31	EUR	11,810,000		13,507,329
						139,427,052
Pharmaceuticals — 0.6%
1261229 BC Ltd.
10.00% (1)		04/15/32		12,142,000		12,378,162
Bayer U.S. Finance II LLC (Germany)
3.95% (1)		04/15/45		17,489,000		12,744,234
4.38% (1)		12/15/28		4,212,000		4,173,671
4.40% (1)		07/15/44		44,514,000		35,069,910
4.63% (1)		06/25/38		6,729,000		6,010,881
5.50% (1)		07/30/35		3,820,000		3,778,973
CVS Health Corp.
4.78%		03/25/38		11,472,000		10,575,463
5.05%		03/25/48		4,406,000		3,782,771
5.45%		09/15/35		18,857,000		18,933,371
5.88%		06/01/53		13,496,000		12,784,221
6.75% (5 yr. CMT + 2.516%) (2)		12/10/54		14,063,000		14,204,052
7.00% (5 yr. CMT + 2.886%) (2)		03/10/55		17,780,000		18,337,403
Grifols SA (Spain)
7.50% (9)		05/01/30	EUR	5,820,000		6,945,536
Novartis Capital Corp.
4.90%		03/18/36		2,980,000		2,973,742
						162,692,390
Pipelines — 0.1%
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)
2.16% (1)		03/31/34		5,181,299		4,596,693
QazaqGaz NC JSC (Kazakhstan)
4.38% (9)		09/26/27		5,091,000		5,054,956
TransCanada PipeLines Ltd. (Canada)
5.85%		03/15/36		2,878,000		2,999,912

See accompanying Notes to Financial Statements.

111

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Pipelines (Continued)
Venture Global Plaquemines LNG LLC
6.50% (1)		06/15/34	$	1,574,000	$	1,640,139
6.75% (1)		01/15/36		8,185,000		8,670,289
7.50% (1)		05/01/33		5,030,000		5,534,811
						28,496,800
Real Estate — 0.2%
Blackstone Property Partners Europe Holdings SARL (Luxembourg)
1.00% (9)		05/04/28	EUR	13,936,000		15,156,738
Blackstone Property Partners Europe Holdings Sarl (Luxemburg)
3.50% (9),(11)		01/29/31	EUR	11,400,000		12,799,608
CBRE Open-Ended Funds SCA SICAV-SIF (Luxemburg)
4.75% (9)		03/27/34	EUR	2,765,000		3,253,309
DVI Deutsche Vermoegens- & Immobilienverwaltungs GmbH
4.88% (9)		08/21/30	EUR	3,200,000		3,673,508
LEG Immobilien SE (Germany)
0.88% (9)		03/30/33	EUR	8,100,000		7,388,699
1.50% (9)		01/17/34	EUR	2,800,000		2,600,639
1.63% (9),(11)		11/28/34	EUR	18,600,000		17,254,031
Vonovia SE (Germany)
5.72% (9),(11)		09/03/35	AUD	13,800,000		8,935,374
						71,061,906
REIT — 1.0%
American Assets Trust LP
3.38%		02/01/31		1,704,000		1,537,451
6.15%		10/01/34		6,925,000		6,871,885
American Homes 4 Rent LP
2.38%		07/15/31		2,845,000		2,507,014
3.38%		07/15/51		7,558,000		4,944,141
5.50%		07/15/34		5,000,000		5,009,750
American Tower Corp.
1.88%		10/15/30		3,336,000		2,946,789
2.90%		01/15/30		2,025,000		1,903,014
4.70%		12/15/32		10,515,000		10,338,769
4.90%		03/15/30		16,040,000		16,179,067
5.55%		07/15/33		975,000		1,002,534
5.90%		11/15/33		27,000,000		28,286,280
Crown Castle, Inc. (REIT)
2.10%		04/01/31		23,220,000		20,241,571
Digital Dutch Finco BV (REIT)
3.88% (9)		07/15/34	EUR	4,155,000		4,583,112
Equinix Europe 2 Financing Corp. LLC (REIT)
3.63%		11/22/34	EUR	24,755,000		27,027,261
Extra Space Storage LP
2.20%		10/15/30		1,090,000		976,825
2.40%		10/15/31		14,348,000		12,569,422
2.55%		06/01/31		1,500,000		1,340,655
3.88%		12/15/27		928,000		919,555
3.90%		04/01/29		1,430,000		1,402,515

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Federal Realty OP LP (REIT)
7.48%		08/15/26	$	18,825,000	$	18,990,284
GLP Capital LP/GLP Financing II, Inc.
4.00%		01/15/31		7,310,000		6,920,012
5.30%		01/15/29		13,180,000		13,308,900
5.75%		11/01/37		1,251,000		1,211,206
5.75%		06/01/28		24,498,000		24,902,952
Healthcare Realty Holdings LP
2.40%		03/15/30		2,000		1,827
3.63%		01/15/28		25,359,000		24,851,313
Hudson Pacific Properties LP
3.25%		01/15/30		6,274,000		5,095,366
3.95%		11/01/27		12,220,000		11,579,061
5.95%		02/15/28		3,725,000		3,538,378
LXP Industrial Trust
6.75%		11/15/28		992,000		1,040,995
VICI Properties LP/VICI Note Co., Inc.
4.50% (1)		01/15/28		2,727,000		2,711,156
VICI Properties LP/VICI Notes Co., Inc.
3.88% (1)		02/15/29		6,903,000		6,712,546
4.13% (1)		08/15/30		3,627,000		3,477,423
WP Carey, Inc.
3.75%		05/10/35	EUR	14,448,000		15,593,229
4.25%		07/23/32	EUR	3,655,000		4,224,640
						294,746,898
Retail — 0.3%
BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc.
9.50% (1)		07/01/32		5,120,000		4,623,155
Ferrellgas LP/Ferrellgas Finance Corp.
5.88% (1)		04/01/29		5,776,000		5,541,494
9.25% (1)		01/15/31		8,946,000		9,339,266
McDonald’s Corp.
4.00% (9),(11)		05/15/38	EUR	24,920,000		28,122,771
Michaels Cos., Inc.
8.50% (1)		03/15/33		7,622,000		7,431,984
11.00% (1)		03/15/34		1,845,000		1,723,894
Papa John’s International, Inc.
3.88% (1)		09/15/29		9,150,000		8,736,146
Punch Finance PLC
7.88% (9)		12/30/30	GBP	4,105,000		5,403,517
Starbucks Corp.
4.80%		05/15/30		12,035,000		12,188,326
Suburban Propane Partners LP/Suburban Energy Finance Corp.
6.50% (1)		12/15/35		9,890,000		9,636,124
						92,746,677
Semiconductors — 0.1%
Foundry JV Holdco LLC
5.50% (1)		01/25/31		2,710,000		2,770,840

See accompanying Notes to Financial Statements.

112

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Semiconductors (Continued)
Intel Corp.
2.00%		08/12/31	$	4,218,000	$	3,654,855
3.25%		11/15/49		31,142,000		19,649,356
						26,075,051
Software — 0.8%
Atlassian Corp.
5.50%		05/15/34		3,000,000		2,938,860
Cloud Software Group, Inc.
8.25% (1)		06/30/32		6,483,000		6,165,527
Fiserv, Inc.
5.25%		08/11/35		38,150,000		37,108,505
5.45%		03/15/34		18,510,000		18,421,337
5.63%		08/21/33		17,345,000		17,536,662
Open Text Corp. (Canada)
6.90% (1)		12/01/27		3,061,000		3,146,524
Oracle Corp.
2.88%		03/25/31		6,515,000		5,791,900
3.95%		03/25/51		24,754,000		15,697,997
4.00%		07/15/46		6,250,000		4,216,125
4.00%		11/15/47		5,750,000		3,799,025
4.80%		08/03/28		5,570,000		5,573,064
5.88%		09/26/45		37,312,000		32,233,837
6.55%		02/04/46		9,350,000		8,734,770
6.70%		02/04/56		13,685,000		12,685,037
Paychex, Inc.
5.35%		04/15/32		14,140,000		14,219,184
Salesforce, Inc.
4.90%		09/15/31		12,205,000		12,190,964
5.55%		03/15/36		30,241,000		30,157,232
6.55%		03/15/56		3,205,000		3,215,801
TeamSystem SpA (Italy)
5.00% (9)		07/01/31	EUR	3,945,000		4,204,749
UKG, Inc.
6.88% (1)		02/01/31		5,510,000		5,405,861
						243,442,961
Telecommunications — 0.8%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27		9,869,000		7,301,876
Altice France SA
6.50% (1)		04/15/32		911,472		862,581
6.88% (1)		07/15/32		3,234,000		3,068,387
9.50% (1)		11/01/29		696,328		705,192
Global Switch Finance BV (United Kingdom)
1.38% (9)		10/07/30	EUR	63,777,000		67,860,130
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
5.15% (1)		03/20/28		120,438,000		121,058,256
T-Mobile USA, Inc.
4.70%		01/15/35		47,915,000		46,369,741
5.15%		04/15/34		450,000		453,623

Issues	Maturity Date		Principal Amount		Value
Telecommunications (Continued)
Vmed O2 U.K. Financing I PLC
7.75% (1)		04/15/32	$	1,475,000	$	1,416,265
Vmed O2 U.K. Financing I PLC (United Kingdom)
4.75% (1)		07/15/31		1,074,000		925,047
						250,021,098
Transportation — 0.1%
Aurizon Network Pty. Ltd. (Australia)
2.90% (9)		09/02/30	AUD	17,130,000		10,332,787
6.10% (9)		09/12/31	AUD	4,630,000		3,168,963
Pacific National Finance Pty. Ltd. (Australia)
3.70%		09/24/29	AUD	26,170,000		16,335,604
						29,837,354
Trucking & Leasing — 0.0%
SMBC Aviation Capital Finance DAC (Ireland)
5.10% (1)		04/01/30		4,410,000		4,453,174
5.30% (1)		04/03/29		500,000		508,125
						4,961,299
Water — 0.4%
DWR Cymru Financing U.K. PLC
2.38% (9)		03/31/34	GBP	17,113,000		16,821,819
6.25% (9)		09/08/37	GBP	4,144,000		5,395,561
Severn Trent Utilities Finance PLC (United Kingdom)
4.25% (9),(11)		01/29/40	EUR	35,100,000		39,391,121
South West Water Finance PLC (United Kingdom)
5.25% (9),(11)		09/15/31	GBP	17,935,000		23,194,410
United Utilities Water Finance PLC (United Kingdom)
3.75% (9)		08/07/35	EUR	1,625,000		1,817,129
Yorkshire Water Finance PLC (United Kingdom)
2.75% (9)		04/18/41	GBP	200,000		163,598
6.00% (9),(11)		07/22/33	GBP	10,000,000		13,056,442
6.38% (9)		11/18/34	GBP	18,052,000		24,023,453
						123,863,533
Total Corporate Bonds
(Cost: $5,178,232,623)						5,017,054,850
MUNICIPAL BONDS — 0.0%
City of New York, General Obligation Unlimited
5.99%		12/01/36		1,828,787		1,888,768
Empire State Development Corp., Revenue Bonds
5.77%		03/15/39		100,000		102,513
Jersey City Municipal Utilities Authority, Revenue Bonds
5.47%		05/15/27		125,000		126,257
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds
5.15%		02/01/36		405,000		411,433
University of California, Revenue Bonds
3.93%		05/15/45		6,615,000		6,092,157
Total Municipal Bonds
(Cost: $9,224,860)						8,621,128

See accompanying Notes to Financial Statements.

113

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Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
FOREIGN GOVERNMENT BONDS — 2.8%
Abu Dhabi Government International Bonds
5.50% (1)		04/30/54	$	24,989,000	$	23,900,979
Brazil Government International Bonds
6.00%		10/20/33		10,519,000		10,540,880
6.13%		03/15/34		7,531,000		7,526,858
6.63%		03/15/35		12,427,000		12,706,359
Colombia Government International Bonds
7.75%		11/07/36		8,680,000		8,886,844
Guatemala Government Bonds
6.25% (9)		08/15/36		25,291,000		25,820,088
6.60% (9)		06/13/36		5,853,000		6,145,826
Hungary Government International Bonds
2.13% (1)		09/22/31		7,284,000		6,178,434
Israel Government International Bonds
5.38%		02/19/30		15,340,000		15,579,151
Kuwait International Government Bonds
4.65% (1),(11)		10/09/35		55,958,000		53,669,318
Mexico Government International Bonds
3.50%		02/12/34		11,840,000		10,056,896
4.75%		04/27/32		1,884,000		1,813,067
4.88%		05/19/33		6,734,000		6,384,236
5.63%		09/22/35		13,699,000		13,249,673
6.35%		02/09/35		7,168,000		7,332,004
New South Wales Treasury Corp.
4.75% (9)		02/20/37	AUD	44,360,000		28,174,599
5.25% (9)		02/24/38	AUD	47,195,000		30,918,741
5.25%		02/22/39	AUD	8,195,000		5,318,704
Oman Government International Bonds
6.25% (1),(11)		01/25/31		15,090,000		15,762,863
Qatar Government International Bonds
4.40% (1)		04/16/50		7,718,000		6,379,622
4.82% (1)		03/14/49		13,524,500		11,927,662
5.10% (1)		04/23/48		7,207,000		6,636,782
Queensland Treasury Corp.
5.00% (9)		07/21/37	AUD	44,360,000		28,519,741
5.25% (9)		08/13/38	AUD	72,600,000		47,240,542
Republic of South Africa Government International Bonds
5.88%		06/22/30		4,438,000		4,468,356
5.88%		04/20/32		8,499,000		8,466,874
Romania Government International Bonds
5.75% (9)		03/24/35		21,718,000		20,516,995
6.63% (9)		05/16/36		23,276,000		23,106,783
Saudi Government International Bonds
4.88% (1),(11)		01/12/36		24,493,000		23,806,216
5.88% (1)		01/12/56		26,461,000		25,184,521
Treasury Corp. of Victoria
2.00%		11/20/37	AUD	41,635,000		19,324,597
5.50%		09/15/39	AUD	5,405,000		3,547,627

Issues	Maturity Date		Principal Amount		Value
FOREIGN GOVERNMENT BONDS (Continued)
Turkiye Government Bonds
36.00%		08/12/26	TRY	3,144,500,700	$	69,552,283
U.K. Gilts
4.38% (9)		03/07/28	GBP	161,820,000		213,460,204
Western Australian Treasury Corp.
5.00% (9),(11)		10/21/37	AUD	62,020,000		40,248,283
Total Foreign Government Bonds
(Cost: $858,218,262)						842,352,608
U.S. TREASURY SECURITIES — 23.1%
U.S. Treasury Bonds
4.63%		02/15/46		920,696,000		887,392,704
4.75% (11)		02/15/56		910,895,000		888,264,952
U.S. Treasury Notes
3.38%		02/29/28		81,368,000		80,738,670
3.50%		02/28/31		195,443,000		191,663,926
3.88%		03/31/28		1,152,187,000		1,154,009,794
3.88%		03/31/31		1,983,235,000		1,977,037,391
4.13% (11)		02/15/36		677,642,000		667,106,788
4.25%		03/31/33		999,795,000		1,006,746,705
Total U.S. Treasury Securities
(Cost: $6,911,964,850)						6,852,960,930
BANK LOANS — 2.1%
Advertising — 0.0%
Advantage Sales & Marketing, Inc. 2026 First Out Term Loan
9.78% (1 mo. USD Term SOFR + 6.000%)(2)		04/19/30		4,155,987		3,155,952
Research Now Group, Inc. 2024 First Lien First Out Term Loan
8.91% (3 mo. USD Term SOFR + 5.000%)(2)		07/15/28		1,212,539		1,195,873
						4,351,825
Aerospace & Defense — 0.1%
HDI Aerospace Intermediate Holding III Corp. Term Loan B
7.40% (3 mo. USD Term SOFR + 3.750%) (2)		02/11/32		3,465,000		3,480,177
TransDigm, Inc. 2023 Term Loan J
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		02/28/31		3,793,828		3,798,608

See accompanying Notes to Financial Statements.

114

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March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Aerospace & Defense (Continued)
TransDigm, Inc. 2025 Term Loan K
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		03/22/30	$	800,018	$	800,926
TransDigm, Inc. 2025 Term Loan M
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		08/19/32		5,582,792		5,588,961
						13,668,672
Airlines — 0.0%
SkyMiles IP Ltd. 2025 Repriced Term Loan B
5.17% (3 mo. USD Term SOFR + 1.500%) (2)		10/20/28		7,090,890		7,135,953
Apparel — 0.0%
ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		12/21/28		3,287,879		3,284,904
Auto Parts & Equipment — 0.0%
First Brands Group LLC 2021 Term Loan
0.00% (13)		03/30/27		1,240,215		3,621
First Brands Group LLC 2025 PIK DIP Roll-Up Term Loan B
10.67% (1 mo. USD Term SOFR + 7.000%) (2)		06/29/26		1,422,245		5,419
						9,040
Beverages — 0.1%
Celsius Holdings, Inc. 2025 Term Loan B
6.20% (3 mo. USD Term SOFR + 2.500%) (2)		04/01/32		2,762,579		2,772,939
Naked Juice LLC 2025 FLFO Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (2)		01/24/29		23,489,795		23,425,786
Naked Juice LLC 2025 FLSO Term Loan
7.05% (3 mo. USD Term SOFR + 3.250%) (2)		01/24/29		6,904,736		3,705,530
Naked Juice LLC 2025 FLTO Term Loan
9.80% (3 mo. USD Term SOFR + 6.000%) (2)		01/24/30		2,056,714		454,770

Issues	Maturity Date		Principal Amount		Value
Beverages (Continued)
Primo Brands Corp. 2026 Term Loan B
0.00% (13)		03/19/31	$	1,664,443	$	1,669,120
						32,028,145
Chemicals — 0.0%
Mativ Holdings, Inc. Delayed Draw Term Loan A
6.27% (1 mo. USD Term SOFR + 2.500%) (2)		05/06/27		3,121,848		3,106,239
Commercial Services — 0.1%
Amspec Parent LLC 2025 Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		12/22/31		4,189,449		4,188,570
CCRR Parent, Inc. Term Loan B
8.18% (3 mo. USD Term SOFR + 4.250%) (2)		03/06/28		4,595,587		1,318,037
CCRR Parent, Inc. US Acquisition Facility
8.02% (3 mo. USD Term SOFR + 4.250%) (2)		03/06/28		3,684,108		930,237
Element Materials Technology Group U.S. Holdings, Inc. 2022 USD Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		07/06/29		785,938		789,380
Kelso Industries LLC Term Loan
9.42% (1 mo. USD Term SOFR + 5.750%) (2)		12/30/29		6,190,110		6,174,635
KUEHG Corp. 2025 Term Loan
6.45% (3 mo. USD Term SOFR + 2.750%) (2)		06/12/30		1,766,413		1,589,772
Priority Holdings LLC 2025 Term Loan B
0.00% (13),(2)		08/02/32		5,046,086		4,934,139
Secretariat Advisors LLC 2025 Delayed Draw Term Loan
0.00% (13),(14)		02/28/32		230,355		226,900
Secretariat Advisors LLC 2025 Term Loan B
0.00% (13)		02/28/32		1,892,830		1,864,437
TTF Holdings LLC 2024 Term Loan
7.38% (6 mo. USD Term SOFR + 3.750%) (2)		07/18/31		6,509,758		4,882,318
						26,898,425

See accompanying Notes to Financial Statements.

115

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Computers — 0.1%
McAfee LLC 2024 USD 1st Lien Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		03/01/29	$	3,066,567	$	2,748,411
Peraton Corp. Term Loan B
7.52% (3 mo. USD Term SOFR + 3.750%) (2)		02/01/28		4,617,598		3,951,902
Surf Holdings LLC 2025 Incremental Term Loan
7.28% (1 mo. USD Term SOFR + 3.500%) (2)		03/05/27		6,573,149		6,276,339
						12,976,652
Cosmetics/Personal Care — 0.0%
Opal Bidco SAS USD Term Loan B4
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		04/28/32		3,224,616		3,226,631
Distribution & Wholesale — 0.0%
BCPE Empire Holdings, Inc. 2025 Term Loan B
6.92% (1 mo. USD Term SOFR + 3.250%) (2)		12/11/30		992,335		979,102
BCPE Empire Holdings, Inc. 2026 10th Amendment Term Loan
7.17% (1 mo. USD Term SOFR + 3.500%) (2)		12/29/32		10,487,586		10,343,434
						11,322,536
Diversified Financial Services — 0.1%
Avolon TLB Borrower 1 U.S. LLC 2023 Term Loan B6
5.43% (1 mo. USD Term SOFR + 1.750%) (2)		06/24/30		21,482,495		21,549,628
Blackhawk Network Holdings, Inc. 2026 Term Loan B
7.17% (1 mo. USD Term SOFR + 3.500%) (2)		03/12/29		5,349,391		5,288,542
Guggenheim Partners LLC 2024 Term Loan B
6.20% (3 mo. USD Term SOFR + 2.500%) (2)		11/26/31		2,247,399		2,251,894

Issues	Maturity Date		Principal Amount		Value
Diversified Financial Services (Continued)
Jane Street Group LLC 2024 Term Loan B1
5.67% (3 mo. USD Term SOFR + 2.000%) (2)		12/15/31	$	5,150,808	$	5,063,012
						34,153,076
Electric — 0.1%
Alpha Generation LLC Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		09/30/31		7,104,000		7,094,729
Cornerstone Generation LLC Term Loan B
5.92% (3 mo. USD Term SOFR + 2.250%) (2)		08/11/32		2,025,235		2,029,579
Potomac Energy Center LLC 2026 Term Loan B
6.42% (3 mo. USD Term SOFR + 2.750%) (2)		08/05/32		2,044,478		2,049,589
South Field LLC 2025 1st Lien Term Loan B
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		08/29/31		2,210,643		2,221,707
South Field LLC 2025 1st Lien Term Loan C
6.70% (3 mo. USD Term SOFR + 3.000%) (2)		08/29/31		138,243		138,935
Vistra Operations Co. LLC 1st Lien Term Loan B3
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		12/20/30		7,745,538		7,765,715
						21,300,254
Electrical Components & Equipment — 0.0%
Pelican Products, Inc. 2021 Term Loan
8.21% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/28		9,489,962		8,469,886
Electronics — 0.0%
LSF12 Crown U.S. Commercial Bidco LLC 2026 Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		12/02/31		1,962,001		1,966,416

See accompanying Notes to Financial Statements.

116

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Electronics (Continued)
TCP Sunbelt Acquisition Co. 2024 Term Loan B
7.92% (3 mo. USD Term SOFR + 4.250%) (2)		10/24/31	$	4,927,625	$	4,936,864
						6,903,280
Engineering & Construction — 0.0%
Astrion Group LLC 2024 Term Loan
8.70% (3 mo. USD Term SOFR + 5.000%) (2)		08/29/31		2,977,386		2,362,065
Entertainment — 0.2%
Betclic Everest Group SAS 2026 Term Loan B
0.00% (13)		12/10/31	EUR	2,889,185		3,285,227
City Football Group Ltd. 2024 Term Loan
7.46% (3 mo. USD Term SOFR + 3.500%) (2)		07/22/30		5,363,381		5,358,367
DK Crown Holdings, Inc. 2025 Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		03/04/32		3,235,717		3,236,235
EOC Borrower LLC Term Loan A
7.42% (1 mo. USD Term SOFR + 3.750%) (2)		03/24/28		1,887,046		1,889,405
Flutter Financing BV 2024 Term Loan B
5.45% (3 mo. USD Term SOFR + 1.750%) (2)		11/30/30		4,617,639		4,578,389
Great Canadian Gaming Corp. 2024 Term Loan B
8.44% (3 mo. USD Term SOFR + 4.750%) (2)		11/01/29		4,897,814		4,834,558
GVC Holdings Gibraltar Ltd. 2025 Term Loan B6 (2029)
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		10/31/29		2,390,389		2,392,445
Showtime Acquisition LLC 2024 1st Lien Term Loan
8.40% (3 mo. USD Term SOFR + 4.750%) (2)		08/16/31		5,685,006		5,628,156
TKO Worldwide Holdings LLC 2025 Term Loan
5.66% (3 mo. USD Term SOFR + 2.000%) (2)		11/21/31		3,703,258		3,705,573

Issues	Maturity Date		Principal Amount		Value
Entertainment (Continued)
Voyager Parent LLC Repriced Term Loan B
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		07/01/32	$	6,341,705	$	6,306,699
						41,215,054
Environmental Control — 0.0%
Action Environmental Group, Inc. 2023 Term Loan B
6.69% (3 mo. USD Term SOFR + 3.000%) (2)		10/24/30		2,212,182		2,208,499
Heritage Environmental Services, Inc. 2026 Term Loan B
0.00% (13)		03/18/33		2,132,691		2,138,023
						4,346,522
Food — 0.1%
BCPE North Star U.S. HoldCo 2, Inc. Term Loan
7.78% (1 mo. USD Term SOFR + 4.000%) (2)		06/09/28		4,781,289		4,773,519
C&S Wholesale Grocers, Inc. Term Loan B
8.70% (3 mo. USD Term SOFR + 5.000%) (2)		09/20/30		6,697,471		6,560,708
United Natural Foods, Inc. 2024 Term Loan
8.42% (1 mo. USD Term SOFR + 4.750%) (2)		05/01/31		6,259,191		6,303,006
						17,637,233
Health Care-Products — 0.1%
Antylia Scientific Term Loan
7.66% (3 mo. USD Term SOFR + 4.000%) (2)		05/27/32		3,140,420		3,120,793
Hologic, Inc. 2026 Term Loan B
0.00% (13)		01/14/33		3,101,338		3,068,200
QuidelOrtho Corp. Term Loan
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		08/20/32		5,970,000		5,970,000
QuidelOrtho Corp. Term Loan A
8.25% (3 mo. USD Term SOFR + 1.500%) (2)		08/14/30		4,322,170		4,154,686
						16,313,679

See accompanying Notes to Financial Statements.

117

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Health Care-Services — 0.1%
ADMI Corp. 2021 Incremental Term Loan B3
7.53% (1 mo. USD Term SOFR + 3.750%) (2)		12/23/27	$	3,314,975	$	3,117,734
ADMI Corp. 2021 Term Loan B2
7.16% (1 mo. USD Term SOFR + 3.375%) (2)		12/23/27		3,763,051		3,537,945
Heartland Dental LLC 2025 Term Loan
7.42% (1 mo. USD Term SOFR + 3.750%) (2)		08/25/32		5,649,944		5,645,763
IQVIA, Inc. 2025 Incremental Term Loan B5
5.45% (3 mo. USD Term SOFR + 1.750%) (2)		01/02/31		6,188,256		6,213,783
ModivCare Buyer LLC Super Senior Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/29/30		5,506,200		5,524,563
ModivCare Buyer LLC Takeback Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (2)		12/30/32		9,798,418		9,210,513
Pediatric Associates Holding Co. LLC 2021 Term Loan B
7.18% (3 mo. USD Term SOFR + 3.250%) (2)		12/29/28		4,558,770		4,373,889
Star Parent, Inc. Term Loan B
7.70% (3 mo. USD Term SOFR + 4.000%) (2)		09/27/30		1,614,961		1,598,957
						39,223,147
Holding Companies — Diversified — 0.0%
GC Ferry Acquisition I, Inc. Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		08/16/32		4,604,649		4,547,091
Household Products/Wares — 0.0%
Lavender Dutch BorrowerCo BV Term Loan
6.93% (3 mo. USD Term SOFR + 3.250%) (2)		12/30/32		3,961,249		3,911,733

Issues	Maturity Date		Principal Amount		Value
Insurance — 0.0%
Asurion LLC 2021 Second Lien Term Loan B4
9.03% (1 mo. USD Term SOFR + 5.250%) (2)		01/20/29	$	1,084,819	$	1,079,493
Internet — 0.1%
Arches Buyer, Inc. 2021 Term Loan B
7.02% (1 mo. USD Term SOFR + 3.250%) (2)		12/06/27		656,565		655,130
Barracuda Networks, Inc. 2022 Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (2)		08/15/29		4,787,241		3,093,754
Delivery Hero SE 2024 USD Term Loan B
8.64% (3 mo. USD Term SOFR + 5.000%) (2)		12/12/29		8,050,768		7,927,511
Delivery Hero SE 2026 Term Loan B
10.75% (3 mo. USD Term SOFR + 4.000%) (2)		06/30/32		2,821,353		2,733,200
Magnite, Inc. 2025 Repriced Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (2)		02/06/31		5,000,892		4,963,385
MH Sub I LLC 2023 Term Loan
7.92% (1 mo. USD Term SOFR + 4.250%) (2)		05/03/28		2,909,458		2,509,408
MH Sub I LLC 2024 Term Loan B4
7.92% (1 mo. USD Term SOFR + 4.250%) (2)		12/31/31		6,599,672		4,430,030
Plano HoldCo, Inc. Term Loan B
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		10/02/31		990,000		801,900
PUG LLC 2024 Extended Term Loan B
8.42% (1 mo. USD Term SOFR + 4.750%) (2)		03/15/30		2,004,962		1,979,279
Red Ventures LLC 2024 Term Loan B
6.42% (1 mo. USD Term SOFR + 2.750%) (2)		03/04/30		3,164,844		2,809,986

See accompanying Notes to Financial Statements.

118

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Internet (Continued)
TripAdvisor, Inc. Term Loan
6.42% (1 mo. USD Term SOFR + 2.750%) (2)		07/08/31	$	3,365,152	$	3,202,497
						35,106,080
Leisure Time — 0.0%
Sabre GLBL, Inc. 2024 Term Loan B1
9.77% (1 mo. USD Term SOFR + 6.000%) (2)		11/15/29		1,045,285		829,371
Lodging — 0.1%
Hilton Domestic Operating Co., Inc. 2023 Term Loan B4
5.43% (1 mo. USD Term SOFR + 1.750%) (2)		11/08/30		16,429,504		16,480,024
Station Casinos LLC 2024 Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		03/14/31		1,830,803		1,832,296
						18,312,320
Machinery-Construction & Mining — 0.0%
SGB-SMIT MidCo GmbH Term Loan B
0.00% (13)		03/10/33	EUR	3,992,966		4,619,856
WEC U.S. Holdings Ltd. 2024 Term Loan
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		01/27/31		3,197,281		3,195,283
						7,815,139
Machinery- Diversified — 0.0%
Oregon Tool, Inc. 2025 1st Lien Term Loan
9.00% (3 mo. USD Term SOFR + 5.350%) (2)		10/15/29		369,195		375,656
Oregon Tool, Inc. 2025 2nd Lien Term Loan
7.91% (3 mo. USD Term SOFR + 4.000%) (2)		10/15/29		9,003,628		6,396,312
						6,771,968
Media — 0.1%
Charter Communications Operating LLC 2024 Term Loan B5
5.91% (3 mo. USD Term SOFR + 2.250%) (2)		12/15/31		7,211,536		7,219,217

Issues	Maturity Date		Principal Amount		Value
Media (Continued)
Virgin Media Bristol LLC 2023 Term Loan Y
7.05% (6 mo. USD Term SOFR + 3.175%) (2)		03/31/31	$	6,282,663	$	5,751,935
Ziggo Financing Partnership 2025 Term Loan B
7.03% (6 mo. USD Term SOFR + 3.250%) (2)		01/15/33		3,568,294		3,483,547
						16,454,699
Miscellaneous Manufacturers — 0.0%
Cleanova U.S. Holdings LLC 2025 Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (2)		06/14/32		2,110,489		2,115,765
Office/Business Equipment — 0.0%
Xerox Holdings Corp. 2023 Non-CoOp Term Loan
7.73% (6 mo. USD Term SOFR + 4.000%) (2)		11/19/29		10,876,692		7,749,643
Packaging & Containers — 0.0%
Balcan Innovations, Inc. Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (2)		10/18/31		3,542,334		2,391,075
Pharmaceuticals — 0.0%
Jazz Financing Lux SARL 2024 1st Lien Term Loan B2
5.92% (1 mo. USD Term SOFR + 2.250%) (2)		05/05/28		3,828,525		3,847,667
REIT — 0.3%
Healthpeak Properties, Inc. 2024 Term Loan A3
4.48% (3 mo. USD Term SOFR + 0.850%) (2)		03/01/29		27,796,272		27,379,328
Healthpeak Properties, Inc. Term Loan A1
4.51% (1 mo. USD Term SOFR + 0.840%) (2)		08/20/27		13,772,696		13,634,969
Healthpeak Properties, Inc. Term Loan A2
4.51% (1 mo. USD Term SOFR + 0.840%) (2)		02/22/27		13,772,696		13,634,969

See accompanying Notes to Financial Statements.

119

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Invitation Homes Operating Partnership LP 2024 Term Loan
4.53% (1 mo. USD Term SOFR + 0.850%) (2)		09/09/28	$	36,581,794	$	36,307,431
						90,956,697
Retail — 0.2%
1011778 BC Unlimited Liability Co. 2024 Term Loan B6
5.42% (1 mo. USD Term SOFR + 1.750%) (2)		09/20/30		2,923,621		2,920,712
BW Gas & Convenience Holdings LLC 2021 Term Loan B
7.28% (1 mo. USD Term SOFR + 3.500%) (2)		03/31/28		1,492,167		1,492,786
Dave & Buster’s, Inc. 2024 1st Lien Term Loan B
6.94% (3 mo. USD Term SOFR + 3.250%) (2)		11/01/31		4,731,722		3,975,498
KFC Holding Co. 2021 Term Loan B
5.54% (1 mo. USD Term SOFR + 1.750%) (2)		03/15/28		8,407,800		8,449,839
Michaels Cos., Inc. 2026 Term Loan B
8.67% (3 mo. USD Term SOFR + 5.000%) (2)		03/15/33		10,922,369		10,622,659
Peer Holding III BV 2025 USD Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		09/29/32		8,432,656		8,370,718
Peer Holding III BV 2025 USD Term Loan B5B
6.20% (3 mo. USD Term SOFR + 2.500%) (2)		07/01/31		3,864,274		3,861,260
Raising Cane’s Restaurants LLC 2025 Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (2)		11/03/32		4,953,789		4,930,581
						44,624,053
Software — 0.2%
Boxer Parent Co., Inc. 2025 USD Term Loan B
6.67% (3 mo. USD Term SOFR + 3.000%) (2)		07/30/31		3,640,806		3,385,567

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
Cast & Crew Payroll LLC 2021 Incremental Term Loan
7.42% (3 mo. USD Term SOFR + 3.750%) (2)		12/29/28	$	4,371,744	$	1,756,348
Cloud Software Group, Inc. 2025 Term Loan B (2031)
6.95% (3 mo. USD Term SOFR + 3.250%) (2)		03/21/31		5,010,213		4,604,386
Cloudera, Inc. 2021 Term Loan
7.52% (1 mo. USD Term SOFR + 3.750%) (2)		10/08/28		5,193,653		4,651,565
Darktrace PLC 1st Lien Term Loan
6.90% (3 mo. USD Term SOFR + 3.250%) (2)		10/09/31		10,022,420		9,622,826
DTI Holdco, Inc. 2025 Term Loan B
7.67% (1 mo. USD Term SOFR + 4.000%) (2)		04/26/29		5,110,547		4,424,890
EagleView Technology Corp. 2025 Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (2)		08/14/28		7,287,086		6,651,761
Electronic Arts, Inc. USD Term Loan B
0.00% (13)		03/24/33		1,110,370		1,104,818
Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B
6.17% (1 mo. USD Term SOFR + 2.500%) (2)		01/30/32		2,403,056		2,303,930
Planview Parent, Inc. 2024 1st Lien Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (2)		12/17/27		11,676,980		8,794,284
Project Alpha Intermediate Holding, Inc. 2024 1st Lien Term Loan B
6.95% (3 mo. USD Term SOFR + 3.250%) (2)		10/26/30		10,291,732		7,845,130
Quartz Acquireco LLC 2025 Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (2)		06/28/30		5,039,902		4,220,918

See accompanying Notes to Financial Statements.

120

TCW MetWest Total Return Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
Renaissance Holding Corp. 2024 1st Lien Term Loan
7.67% (3 mo. USD Term SOFR + 4.000%) (2)		04/05/30	$	9,154,223	$	6,582,482
SonarSource Financing LLC Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (2)		12/19/30		3,714,917		3,417,724
						69,366,629
Telecommunications — 0.0%
Altice Financing SA 2022 USD Term Loan
8.67% (3 mo. USD Term SOFR + 5.000%) (2)		10/31/27		3,082,595		2,245,485
GOGO Intermediate Holdings LLC Term Loan B
7.53% (1 mo. USD Term SOFR + 3.750%) (2)		04/30/28		2,692,244		2,363,804
Zayo Group Holdings, Inc. 2025 USD Term Loan
6.78% (1 mo. USD Term SOFR + 3.000%) (2)		03/11/30		2,685,121		2,641,340
						7,250,629
Total Bank Loans
(Cost: $659,386,995)						633,063,270
Total Fixed Income Securities
(Cost: $31,218,038,921)						29,854,034,328
CONVERTIBLE SECURITIES — 0.1%
CONVERTIBLE CORPORATE BONDS— 0.1%
Beverages — 0.1%
Davide Campari-Milano NV (Italy)
2.38% (9)		01/17/29	EUR	14,300,000		16,049,388
Commercial Services — 0.0%
Worldline SA (France)
0.00% (4),(9)		07/30/26	EUR	6,342,326		7,417,679
Engineering & Construction — 0.0%
Cellnex Telecom SA
0.75% (9)		11/20/31	EUR	2,400,000		2,463,311

Issues	Maturity Date		Principal Amount		Value
Internet — 0.0%
Delivery Hero SE
1.50% (9)		01/15/28	EUR	4,000,000	$	4,303,743
Total Convertible Corporate Bonds
(Cost: $27,879,873)						30,234,121
Total Convertible Securities
(Cost: $27,879,873)						30,234,121
Issues			Shares		Value
COMMON STOCK — 0.1%
Health Care-Services — 0.0%
ModivCare, Inc. (15)				1,934,234		12,572,521
Packaging & Containers — 0.1%
Ardagh Holdings SA (15)				1,815,919		13,392,403
Total Common Stock
(Cost: $55,072,415)						25,964,924
INVESTMENT COMPANIES — 0.7%
TCW Private Asset Income Fund — I Class (16)				21,516,602		214,520,519
Total Investment Companies
(Cost: $215,190,960)						214,520,519
MONEY MARKET INVESTMENTS — 13.9%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (17),(11)				59,394,639		59,394,639
TCW Central Cash Fund, 3.69% (16),(17)				4,057,401,839		4,057,401,839
Total Money Market Investments
(Cost: $4,116,796,478)						4,116,796,478
Total Investments (115.2%)
(Cost: $35,632,978,647)						34,241,550,370
Net unrealized appreciation/depreciation on Unfunded Commitments (18) (0.0%)						(14,502	)
Liabilities In Excess Of Other Assets (-15.2%)						(4,515,639,060	)
Net Assets (100.0%)					$	29,725,896,808

See accompanying Notes to Financial Statements.

121

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
25,584	2-Year U.S. Treasury Note Futures		06/30/26	$	5,341,721,201		$	5,307,280,862		$	(34,440,339	)
9,905	5-Year U.S. Treasury Note Futures		06/30/26		1,085,058,566			1,071,519,810			(13,538,756	)
184	10-Year U.S. Treasury Note Futures		06/18/26		21,316,903			20,886,875			(430,028	)
1,006	U.S. Long Bond Futures		06/18/26		118,269,884			114,558,250			(3,711,634	)
7,800	U.S. Ultra Long Bond Futures		06/18/26		934,064,586			909,187,500			(24,877,086	)
				$	7,500,431,140		$	7,423,433,297		$	(76,997,843	)
Short Futures
3,983	10-Year Australian Bond Futures		06/15/26	$	(294,300,225	)	$	(293,947,679	)	$	352,546
1,153	3-Year Australian Bond Futures		06/15/26		(82,030,465	)		(81,855,216	)		175,249
507	30-Year Euro-Buxl Futures		06/08/26		(65,283,969	)		(64,410,068	)		873,901
1,075	Euro Schatz Futures		06/08/26		(131,684,109	)		(130,983,518	)		700,591
1,317	Euro-Bobl Futures		06/08/26		(177,181,349	)		(175,158,929	)		2,022,420
2,961	Euro-Bund Futures		06/08/26		(436,145,243	)		(427,788,514	)		8,356,729
542	Long Gilt Futures		06/26/26		(65,463,944	)		(62,746,587	)		2,717,357
				$	(1,252,089,304	)	$	(1,236,890,511	)	$	15,198,793

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (19)
Citibank N.A.(11)		AUD		55,507,872		04/01/26	$	38,877,083	$	38,017,344	$	(859,739	)
JP Morgan Chase Bank		AUD		307,598,917		04/01/26		211,673,228		210,674,522		(998,706	)
Goldman Sachs & Co.(11)		AUD		125,920,936		04/01/26		86,721,853		86,243,259		(478,594	)
Bank of America		AUD		924,721		04/01/26		656,796		633,341		(23,455	)
Citibank N.A.(11)		EUR		88,725,734		04/01/26		103,992,192		102,229,776		(1,762,416	)
Goldman Sachs & Co.(11)		EUR		590,053,839		04/01/26		679,923,974		679,859,937		(64,037	)
JP Morgan Chase Bank		EUR		3,446,964		04/01/26		3,941,748		3,971,591		29,843
Goldman Sachs & Co.(11)		EUR		11,633,441		04/07/26		13,395,555		13,407,172		11,617
Citibank N.A.		EUR		131,338		06/26/26		152,018		151,910		(108	)
Citibank N.A.		GBP		279,948,720		04/01/26		372,972,083		369,168,176		(3,803,907	)
							$	1,512,306,530	$	1,504,357,028	$	(7,949,502	)
SELL (20)
Citibank N.A.(11)		AUD		208,211,715		04/01/26	$	140,762,489	$	142,604,220	$	(1,841,731	)
Bank of America		AUD		277,124,456		04/01/26		186,056,636		189,802,560		(3,745,924	)
Goldman Sachs & Co.		AUD		4,616,272		04/01/26		3,085,622		3,161,685		(76,063	)
Goldman Sachs & Co.(11)		AUD		125,769,878		06/26/26		86,498,233		86,030,576		467,657
Citibank N.A.(11)		AUD		4,189,246		06/26/26		2,906,348		2,865,577		40,771
Morgan Stanley Bank N.A.		AUD		4,641,668		06/26/26		3,196,121		3,175,048		21,073
JP Morgan Chase Bank		AUD		307,468,128		06/26/26		211,306,026		210,317,930		988,096
Citibank N.A.(11)		EUR		246,837,664		04/01/26		289,194,100		284,406,315		4,787,785
JP Morgan Chase Bank		EUR		343,244,164		04/01/26		403,164,045		395,485,868		7,678,177
Goldman Sachs & Co.(11)		EUR		62,344,008		04/01/26		72,594,397		71,832,756		761,641
Bank of New York		EUR		17,707,598		04/01/26		20,471,814		20,402,692		69,122
Goldman Sachs & Co.		EUR		608,602,065		06/26/26		703,998,665		703,930,290		68,375

See accompanying Notes to Financial Statements.

122

TCW MetWest Total Return Bond Fund

March 31, 2026

Forward Currency Exchange Contracts (Continued)
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
SELL (20) (Continued)
Citibank N.A. (11)		EUR		12,224,441		06/26/26	$	14,158,836	$	14,139,213	$	19,623
Bank of America		EUR		11,915,745		06/26/26		13,886,312		13,782,165		104,147
JP Morgan Chase Bank		EUR		1,830,604		06/26/26		2,133,648		2,117,340		16,308
Bank of New York		EUR		15,957,151		06/26/26		18,424,817		18,456,596		(31,779	)
Citibank N.A. (11)		GBP		105,280,239		04/01/26		142,104,625		138,832,977		3,271,648
Goldman Sachs & Co.		GBP		559,605		04/01/26		754,719		737,951		16,768
JP Morgan Chase Bank		GBP		169,741,772		04/01/26		226,520,969		223,838,354		2,682,615
Bank of America		GBP		4,367,104		04/01/26		5,878,768		5,758,897		119,871
Citibank N.A. (11)		GBP		267,175,397		06/26/26		355,626,484		352,217,400		3,409,084
							$	2,902,723,674	$	2,883,896,410	$	18,827,264

Centrally Cleared — Interest Rate Swap Agreements
Notional Amount	Expiration Date		Payment Made by Fund Frequency		Payment Made by Fund		Payment Received by Fund Frequency		Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid			Value
GBP 1,019,462,000		03/20/28		Annual		12 - Month SONIA		Annual		3.93	%	$	(2,330,604	)	$	(4,442,704	)	$	(6,773,308	)

Notes to the Schedule of Investments:

ABS Asset-Backed Securities.

AUD Australian Dollar.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

GBP British Pound Sterling.

I/F Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates.

I/O Interest Only Security.

LIBOR London Interbank Offered Rate.

PAC Planned Amortization Class.

PIK Payment In Kind.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

SONIA Sterling Overnight Index Average.

STRIPS Separate Trading of Registered Interest and Principal Securities.

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 March 31, 2026, the value of these securities amounted to $4,878,331,986 or 16.4% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) This security is a residual or equity position that does not have a stated interest rate. This residual or equity position is entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying securities less contractual payments to debt holders and fund expenses.

(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) 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.

See accompanying Notes to Financial Statements.

123

TCW MetWest Total Return Bond Fund

Consolidated Schedule of Investments (Continued)

(7) 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.

(8) Restricted security (Note 11).

(9) 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 March 31, 2026, the value of these securities amounted to $1,224,634,132 or 4.1% of net assets.

(10) Perpetual maturity.

(11) All or a portion of this security is owned by TCW MetWest Cayman Total Return Bond Fund, Ltd.

(12) 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.

(13) 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.

(14) This security is purchased on a when-issued, delayed-delivery or forward commitment basis.

(15) Non-income producing security.

(16) Affiliated issuer.

(17) Rate disclosed is the 7-day net yield as of March 31, 2026.

(18) Unfunded or partially unfunded loan commitments. The Fund may enter into certain credit agreements for which all or a portion may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion.

(19) Fund buys foreign currency, sells USD.

(20) Fund sells foreign currency, buys USD.

The summary of the TCW MetWest Total Return Bond Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund	$	1,736,327,625	$	25,008,474,214	$	22,687,400,000		4,057,401,839	$	4,057,401,839	$	137,193,609	$	—	$	—	$	—
TCW Private Asset Income Fund — I Class		36,136,726		179,054,234		—		21,516,602		214,520,519		14,821,742		42,760				(670,441	)
Total									$	4,271,922,358	$	152,015,351	$	42,760	$	—	$	(670,441	)

See accompanying Notes to Financial Statements.

124

TCW MetWest Total Return Bond Fund

Consolidated Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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
Residential Mortgage-Backed Securities — Agency	$	—		$	10,935,077,655		$	—	$	10,935,077,655
U.S. Treasury Securities		—			6,852,960,930			—		6,852,960,930
Corporate Bonds		—			5,017,054,850			—		5,017,054,850
Residential Mortgage-Backed Securities — Non-Agency		—			2,764,048,298			—		2,764,048,298
Asset-Backed Securities		—			1,432,480,097			32,988,768		1,465,468,865
Commercial Mortgage-Backed Securities — Non-Agency		—			1,106,165,931			—		1,106,165,931
Foreign Government Bonds		—			842,352,608			—		842,352,608
Bank Loans		—			633,063,270			—		633,063,270
Commercial Mortgage-Backed Securities — Agency		—			229,220,793			—		229,220,793
Municipal Bonds		—			8,621,128			—		8,621,128
Total Fixed Income Securities		—			29,821,045,560			32,988,768		29,854,034,328
Convertible Securities
Convertible Corporate Bonds		—			30,234,121			—		30,234,121
Equity Securities
Money Market Investments		4,116,796,478			—			—		4,116,796,478
Investment Companies		—			214,520,519			—		214,520,519
Common Stock		—			25,964,924			—		25,964,924
Total Equity Securities		4,116,796,478			240,485,443			—		4,357,281,921
Net Unrealized Appreciation (Depreciation) on Unfunded Commitments		—			(14,502	)		—		(14,502	)
Total Investments	$	4,116,796,478		$	30,091,750,622		$	32,988,768	$	34,241,535,868
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			24,564,221			—		24,564,221
Futures Contracts
Interest Rate Risk		15,198,793			—			—		15,198,793
Total	$	4,131,995,271		$	30,116,314,843		$	32,988,768	$	34,281,298,882
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(76,997,843	)	$	—		$	—	$	(76,997,843	)
Forward Currency Contracts
Foreign Currency Risk		—			(13,686,459	)		—		(13,686,459	)
Swap Agreements
Interest Rate Risk		—			(6,773,308	)		—		(6,773,308	)
Total	$	(76,997,843	)	$	(20,459,767	)	$	—	$	(97,457,610	)

See accompanying Notes to Financial Statements.

125

TCW MetWest Ultra Short Bond Fund

Schedule of Investments

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 101.5% of Net Assets
ASSET-BACKED SECURITIES — 13.3%
522 Funding CLO Ltd. Series 2020-6A, Class A1R2
4.87% (3 mo. USD Term SOFR + 1.200%) (1),(2)		10/23/34	$	190,000	$	189,933
AGL CLO 13 Ltd. Series 2021-13A, Class A1R
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		10/20/34		150,000		149,919
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2
1.94% (1)		08/15/46		240,000		237,571
ALLO Issuer LLC Series 2023-1A, Class A2
6.20% (1)		06/20/53		100,000		100,749
AmeriCredit Automobile Receivables Trust Series 2022-2, Class C
5.32%		04/18/28		299,986		301,201
Bain Capital Credit CLO Ltd. Series 2020-5A, Class ARR
4.82% (3 mo. USD Term SOFR + 1.150%) (1),(2)		04/20/34		200,000		200,050
Bain Capital Credit CLO Ltd. Series 2021-6A, Class A1R
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		10/21/34		150,000		149,915
Barings CLO Ltd. Series 2021-3A, Class AR
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		01/18/35		200,000		199,872
CARS-DB5 LP Series 2021-1A, Class A1
1.44% (1)		08/15/51		92,054		90,887
Diamond Infrastructure Funding LLC Series 2021-1A, Class A
1.76% (1)		04/15/49		130,000		127,114
Dryden 40 Senior Loan Fund Series 2015-40A, Class AR2
4.80% (3 mo. USD Term SOFR + 1.150%) (1),(2)		08/15/31		62,396		62,457
Dryden 72 CLO Ltd. Series 2019-72A, Class ARR
4.75% (3 mo. USD Term SOFR + 1.100%) (1),(2)		05/15/32		356,807		356,992
Dryden 86 CLO Ltd. Series 2020-86A, Class A1R2
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		07/17/34		200,000		200,100
GLS Auto Receivables Issuer Trust Series 2021-3A, Class D
1.48% (1)		07/15/27		18,305		18,284
Hotwire Funding LLC Series 2024-1A, Class A2
5.89% (1)		06/20/54		60,000		60,744
HPS Loan Management Ltd. Series 2021-16A, Class A1R
4.78% (3 mo. USD Term SOFR + 1.110%) (1),(2)		01/23/35		250,000		249,889
HTS Fund II LLC Series 2025-1, Class A
5.35% (1)		06/23/45		100,000		99,952
JG Wentworth XXII LLC Series 2010-3A, Class A
3.82% (1)		12/15/48		207,543		206,691
Laurel Road Prime Student Loan Trust Series 2019-A, Class BFX
3.00% (1)		10/25/48		67,302		66,714

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
LCM 37 Ltd. Series 37A, Class A1R
4.73% (3 mo. USD Term SOFR + 1.060%) (1),(2)		04/15/34	$	113,246	$	113,248
Navient Private Education Refi Loan Trust Series 2021-CA, Class A
1.06% (1)		10/15/69		215,135		195,585
Navient Private Education Refi Loan Trust Series 2021-FA, Class A
1.11% (1)		02/18/70		148,842		132,857
Octagon Investment Partners 41 Ltd. Series 2019-2A, Class A1R
4.76% (3 mo. USD Term SOFR + 1.090%) (1),(2)		10/15/33		200,000		199,729
Oxford Finance Funding LLC Series 2022-1A, Class A2
3.60% (1)		02/15/30		124,508		121,522
Rockford Tower CLO Ltd. Series 2019-1A, Class AR2
4.77% (3 mo. USD Term SOFR + 1.100%) (1),(2)		04/20/34		200,000		199,858
Sabey Data Center Issuer LLC Series 2021-1, Class A2
1.88% (1)		06/20/46		111,000		110,265
Store Master Funding I-VII & XIV Series 2019-1, Class A3
3.32% (1)		11/20/49		150,092		148,222
Symphony CLO XXIV Ltd. Series 2020-24A, Class A1R
4.80% (3 mo. USD Term SOFR + 1.130%) (1),(2)		10/23/35		215,000		214,861
Thompson Park CLO Ltd. Series 2021-1A, Class A1R
4.72% (3 mo. USD Term SOFR + 1.050%) (1),(2)		04/15/34		250,000		249,907
Trinitas CLO XX Ltd. Series 2022-20A, Class A1R
4.71% (3 mo. USD Term SOFR + 1.040%) (1),(2)		07/20/35		250,000		249,347
Vantage Data Centers Issuer LLC Series 2021-1A, Class A2
2.17% (1)		10/15/46		200,000		196,644
VB-S1 Issuer LLC Series 2022-1A, Class C2I
3.16% (1)		02/15/52		90,000		87,861
Voya CLO Ltd. Series 2020-1A, Class ARR
4.75% (3 mo. USD Term SOFR + 1.080%) (1),(2)		07/16/34		225,000		224,944
Total Asset-Backed Securities (Cost: $5,489,373)					5,513,884
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 21.1%
Federal Home Loan Mortgage Corp., Pool #SD8286
4.00%		01/01/53		144,601		136,781
Federal Home Loan Mortgage Corp. REMICS Series 2368, Class AF (PAC)
4.74% (30 day USD SOFR Average + 1.064%) (2)		10/15/31		20,407		20,606

See accompanying Notes to Financial Statements.

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Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 2733, Class FB (PAC)
4.39% (30 day USD SOFR Average + 0.714%) (2)		10/15/33	$	160,500	$	161,686
Federal Home Loan Mortgage Corp. REMICS Series 3085, Class FW
4.49% (30 day USD SOFR Average + 0.814%) (2)		08/15/35		126,530		127,955
Federal Home Loan Mortgage Corp. REMICS Series 3300, Class FA
4.09% (30 day USD SOFR Average + 0.414%) (2)		08/15/35		117,757		117,570
Federal Home Loan Mortgage Corp. REMICS Series 3325, Class NF
4.09% (30 day USD SOFR Average + 0.414%) (2)		08/15/35		23,656		23,618
Federal Home Loan Mortgage Corp. REMICS Series 3895, Class BF
4.29% (30 day USD SOFR Average + 0.614%) (2)		07/15/41		75,082		74,939
Federal Home Loan Mortgage Corp. STRIPS Series 263, Class F5
4.29% (30 day USD SOFR Average + 0.614%) (2)		06/15/42		111,163		110,794
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		94,555		89,608
Federal National Mortgage Association, Pool #MA4866
4.00%		01/01/53		99,945		94,670
Federal National Mortgage Association, Pool #MA4805
4.50%		11/01/52		530,915		514,563
Federal National Mortgage Association, Pool #MA5009
5.00%		05/01/53		191,798		189,827
Federal National Mortgage Association, Pool #254548
5.50%		12/01/32		25,263		25,881
Federal National Mortgage Association, Pool #555424
5.50%		05/01/33		17,834		18,327
Federal National Mortgage Association, Pool #AL0851
6.00%		10/01/40		22,008		23,178
Federal National Mortgage Association, Pool #555098
6.19% (1 yr. USD RFUCCT + 1.636%) (2)		11/01/32		3,150		3,192
Federal National Mortgage Association, Pool #762525
6.50%		11/01/33		6,036		6,343
Federal National Mortgage Association, Pool #AE0443
6.50%		10/01/39		26,097		27,801

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #770900
6.55% (1 yr. USD RFUCCT + 1.551%) (2)		04/01/34	$	34,250	$	34,675
Federal National Mortgage Association, Pool #655133
7.00%		08/01/32		3,615		3,832
Federal National Mortgage Association, Pool #655151
7.00%		08/01/32		1,840		1,935
Federal National Mortgage Association REMICS Series 2001-42, Class SB (I/F)
8.50% (-30 day USD SOFR Average + 126.168%) (2)		09/25/31		221		237
Federal National Mortgage Association REMICS Series 2001-60, Class OF
4.73% (30 day USD SOFR Average + 1.064%) (2)		10/25/31		22,148		22,362
Federal National Mortgage Association REMICS Series 2002-30, Class FB
4.78% (30 day USD SOFR Average + 1.114%) (2)		08/25/31		15,049		15,161
Federal National Mortgage Association REMICS Series 2003-124, Class TS (I/F)
9.80% (-30 day USD SOFR Average + 99.197%) (2)		01/25/34		3,976		4,368
Federal National Mortgage Association REMICS Series 2004-60, Class FW
4.23% (30 day USD SOFR Average + 0.564%) (2)		04/25/34		7,846		7,852
Federal National Mortgage Association REMICS Series 2004-96, Class MT (I/F) (TAC)
7.00% (-30 day USD SOFR Average + 123.122%) (2)		12/25/34		10,049		10,896
Federal National Mortgage Association REMICS Series 2005-73, Class DF (PAC)
4.03% (30 day USD SOFR Average + 0.364%) (2)		08/25/35		24,286		24,216
Federal National Mortgage Association REMICS Series 2007-68, Class SC (I/O) (I/F)
2.92% (-30 day USD SOFR Average + 6.586%) (2)		07/25/37		34,707		3,563
Federal National Mortgage Association REMICS Series 2010-109, Class PF (PAC)
4.18% (30 day USD SOFR Average + 0.514%) (2)		10/25/40		18,508		18,523

See accompanying Notes to Financial Statements.

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2010-26, Class S (I/O) (I/F)
2.45% (-30 day USD SOFR Average + 6.116%) (2)		11/25/36	$	113,766	$	9,593
Federal National Mortgage Association REMICS Series 2010-95, Class FB (PAC)
4.18% (30 day USD SOFR Average + 0.514%) (2)		09/25/40		16,059		16,036
Federal National Mortgage Association REMICS Series 2018-79, Class FA
4.03% (30 day USD SOFR Average + 0.364%) (2)		11/25/48		28,391		28,052
Federal National Mortgage Association REMICS Series 2019-79, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		01/25/50		76,537		75,574
Federal National Mortgage Association REMICS Series 2020-10, Class FA
4.28% (30 day USD SOFR Average + 0.614%) (2)		03/25/50		216,051		213,379
Federal National Mortgage Association REMICS Series 2024-73, Class FB
4.86% (30 day USD SOFR Average + 1.200%) (2)		10/25/54		373,898		375,894
Government National Mortgage Association, Pool #80546
5.13% (1 yr. CMT + 1.500%) (2)		10/20/31		2,336		2,358
Government National Mortgage Association, Pool #80614
5.38% (1 yr. CMT + 1.500%) (2)		07/20/32		3,008		3,038
Government National Mortgage Association, Pool #MA0331
5.38% (1 yr. CMT + 1.500%) (2)		08/20/42		30,138		30,788
Government National Mortgage Association, Pool #80610
5.63% (1 yr. CMT + 1.500%) (2)		06/20/32		35,675		36,088
Government National Mortgage Association, Pool #80687
5.63% (1 yr. CMT + 1.500%) (2)		04/20/33		25,714		25,847
Government National Mortgage Association REMICS Series 2004-2, Class FW
5.18% (1 mo. USD Term SOFR + 1.514%) (2)		01/16/34		157,906		160,878
Government National Mortgage Association REMICS Series 2009-92, Class FC
4.59% (1 mo. USD Term SOFR + 0.914%) (2)		10/16/39		42,411		42,749

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association REMICS Series 2011-70, Class IL (I/O) (I/F)
0.60% (-1 mo. USD Term SOFR + 6.986%) (2)		06/16/37	$	689,212	$	12,341
Government National Mortgage Association REMICS Series 2023-113, Class FD
5.02% (30 day USD SOFR Average + 1.350%) (2)		08/20/53		288,379		291,534
Government National Mortgage Association REMICS Series 2024-144, Class FD
4.82% (30 day USD SOFR Average + 1.150%) (2)		09/20/54		407,578		410,813
Government National Mortgage Association REMICS Series 2024-148, Class AF
4.85% (30 day USD SOFR Average + 1.180%) (2)		09/20/54		407,535		411,187
Government National Mortgage Association, TBA
4.00% (3)		06/01/55		975,000		912,735
Uniform Mortgage-Backed Security, TBA
3.50% (3)		04/16/41		375,000		361,371
3.50% (3)		12/01/51		200,000		183,359
4.00% (3)		04/16/41		375,000		366,225
4.00% (3)		05/01/55		150,000		141,517
4.50% (3)		04/15/40		450,000		446,903
4.50% (3)		01/01/56		400,000		385,869
5.00% (3)		04/15/40		500,000		503,833
5.00% (3)		01/01/56		1,050,000		1,035,353
5.50% (3)		12/01/55		350,000		351,659
Total Residential Mortgage-Backed Securities — Agency
(Cost: $8,816,174)						8,749,932
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 5.4%
ALA Trust Series 2025-OANA, Class A
5.42% (1 mo. USD Term SOFR + 1.743%) (1),(2)		06/15/40		140,000		140,569
BPR Trust Series 2021-WILL, Class A
5.54% (1 mo. USD Term SOFR + 1.864%) (1),(2)		06/15/38		185,775		185,674
BX Commercial Mortgage Trust Series 2021-21M, Class A
4.52% (1 mo. USD Term SOFR + 0.844%) (1),(2)		10/15/36		59,504		59,474
Great Wolf Trust Series 2024-WOLF, Class A
5.21% (1 mo. USD Term SOFR + 1.542%) (1),(2)		03/15/39		152,000		152,117
GS Mortgage Securities Corp. Trust Series 2023-FUN, Class A
5.76% (1 mo. USD Term SOFR + 2.091%) (1),(2)		03/15/28		125,000		125,573

See accompanying Notes to Financial Statements.

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Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
GWT Trust Series 2024-WLF2, Class A
5.36% (1 mo. USD Term SOFR + 1.691%) (1),(2)		05/15/41	$	100,000	$	100,121
HILT Commercial Mortgage Trust Series 2024-ORL, Class A
5.21% (1 mo. USD Term SOFR + 1.541%) (1),(2)		05/15/37		100,000		100,049
Hilton USA Trust Series 2016-HHV, Class A
3.72% (1)		11/05/38		103,000		102,476
JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-NINE, Class A
2.85% (1),(4)		09/06/38		163,000		161,887
JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-NINE, Class B
2.85% (1),(4)		09/06/38		145,000		143,756
NYCT Trust Series 2024-3ELV, Class A
5.66% (1 mo. USD Term SOFR + 1.991%) (1),(2)		08/15/29		200,000		200,612
NYO Commercial Mortgage Trust Series 2021-1290, Class A
4.88% (1 mo. USD Term SOFR + 1.209%) (1),(2)		11/15/38		140,000		139,785
PGA Trust Series 2024-RSR2, Class A
5.56% (1 mo. USD Term SOFR + 1.891%) (1),(2)		06/15/39		173,000		172,657
SREIT Trust Series 2021-MFP2, Class B
4.96% (1 mo. USD Term SOFR + 1.286%) (1),(2)		11/15/36		115,000		114,952
Tricon Residential Trust Series 2021-SFR1, Class F
3.69% (1)		07/17/38		140,000		139,039
Wells Fargo Commercial Mortgage Trust Series 2021-FCMT, Class A
4.99% (1 mo. USD Term SOFR + 1.314%) (1),(2)		05/15/31		200,000		199,923
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $2,220,359)						2,238,664
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 0.8%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series Q004, Class AFL
4.60% (1 yr. MTA + 0.740%) (2)		05/25/44		56,387		56,364
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series Q010, Class APT
6.19% (4)		04/25/46		12,639		12,704
Government National Mortgage Association Series 2008-92, Class E
5.56% (4)		03/16/44		7,572		7,556
Government National Mortgage Association Series 2012-135 (I/O)
0.35% (4)		01/16/53		1,242,818		16,754

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association Series 2014-157, Class C
3.15% (4)		10/16/54	$	249,093	$	244,357
Total Commercial Mortgage-Backed Securities — Agency
(Cost: $394,335)					337,735
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 4.1%
Aames Mortgage Trust Series 2002-1, Class A3
7.40%		06/25/32		6,329		6,141
Adjustable Rate Mortgage Trust Series 2005-1, Class 1A1
5.49% (4)		05/25/35		10,534		10,528
Ajax Mortgage Loan Trust Series 2019-F, Class A1
2.86% (1)		07/25/59		71,345		69,811
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-R10, Class M3
4.47% (1 mo. USD Term SOFR + 0.789%) (2)		01/25/36		9,386		9,473
Banc of America Funding Trust Series 2003-2, Class 1A1
6.50%		06/25/32		2,169		2,199
Chase Home Lending Mortgage Trust Series 2024-8, Class A6A
5.50% (1),(4)		08/25/55		31,232		31,193
Citigroup Mortgage Loan Trust, Inc. Series 2006-WFH4, Class M2
4.23% (1 mo. USD Term SOFR + 0.549%) (2)		11/25/36		259,084		259,310
Citigroup Mortgage Loan Trust, Inc. Series 2007-AMC4, Class A2D
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		05/25/37		43,867		43,743
Countrywide Alternative Loan Trust Series 2004-J6, Class 2A1
6.50%		11/25/31		9,388		9,593
Credit Suisse First Boston Mortgage Securities Corp. Series 2002-AR31, Class 4A2
6.75% (4)		11/25/32		11,772		11,762
First Franklin Mortgage Loan Trust Series 2006-FFH1, Class M1
4.35% (1 mo. USD Term SOFR + 0.669%) (2)		01/25/36		371,862		368,338
IndyMac INDX Mortgage Loan Trust Series 2004-AR6, Class 6A1
5.26% (4)		10/25/34		61,466		58,377
JPMorgan Mortgage Trust Series 2005-A2, Class 9A1
6.13% (4)		04/25/35		24,046		23,878
MASTR Adjustable Rate Mortgages Trust Series 2004-12, Class 5A1
6.17% (4)		10/25/34		7,001		6,899
MASTR Seasoned Securitization Trust Series 2004-1, Class 4A1
6.53% (4)		10/25/32		11,867		11,724
Merrill Lynch Mortgage Investors Trust Series 2003-A1, Class 2A
5.81% (1 yr. USD Term SOFR + 2.340%) (2)		12/25/32		76,828		77,437
MortgageIT Trust Series 2005-1, Class 1A1
4.43% (1 mo. USD Term SOFR + 0.754%) (2)		02/25/35		164,952		164,576

See accompanying Notes to Financial Statements.

129

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Ownit Mortgage Loan Trust Series 2006-3, Class A2D
4.33% (1 mo. USD Term SOFR + 0.654%) (2)		03/25/37	$	187,208	$	183,060
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series 2004-WHQ2, Class M4
5.37% (1 mo. USD Term SOFR + 1.689%)(2)		02/25/35		125,593		124,550
PMT Loan Trust Series 2026-INV3, Class A36
5.02% (30 day USD SOFR Average + 1.350%) (1),(2)		02/25/57		100,000		100,247
Residential Asset Mortgage Products Trust Series 2004-SL1, Class A2
8.50%		11/25/31		33,820		10,927
Residential Asset Securities Corporation Trust Series 2006-KS3, Class M1
4.29% (1 mo. USD Term SOFR + 0.444%) (2)		04/25/36		28,751		28,689
Residential Asset Securitization Trust Series 2004-IP2, Class 2A1
3.75% (4)		12/25/34		44,421		40,950
WaMu Mortgage Pass-Through Certificates Trust Series 2003-AR6, Class A1
6.11% (4)		06/25/33		11,659		11,495
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2005-4, Class CB1
4.29% (1 mo. USD Term SOFR + 0.614%) (2)		06/25/35		57,378		50,102
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $1,727,059)					1,715,002
CORPORATE BONDS — 25.7%
Agriculture — 0.5%
Altria Group, Inc.
4.88%		02/04/28		70,000		70,633
Imperial Brands Finance PLC (United Kingdom)
6.13% (1)		07/27/27		135,000		137,750
						208,383
Airlines — 0.2%
JetBlue Pass-Through Trust Series 2019-1, Class AA
2.75%		11/15/33		68,359		60,345
Banks — 12.8%
Bank of America Corp.
3.42% (3 mo. USD Term SOFR + 1.302%) (2)		12/20/28		70,000		68,775
3.82% (3 mo. USD Term SOFR + 1.837%) (2)		01/20/28		985,000		980,203
Bank of New York Mellon
4.73% (1 day USD SOFR + 1.135%) (2)		04/20/29		160,000		161,182
Citigroup, Inc.
1.46% (1 day USD SOFR + 0.770%) (2)		06/09/27		815,000		810,297

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
Goldman Sachs Group, Inc.
1.54% (1 day USD SOFR + 0.818%) (2)		09/10/27	$	405,000	$	399,771
HSBC Holdings PLC (United Kingdom)
2.01% (1 day USD SOFR + 1.732%) (2)		09/22/28		85,000		81,989
JPMorgan Chase & Co.
1.47% (1 day USD SOFR + 0.765%) (2)		09/22/27		195,000		192,334
3.78% (3 mo. USD Term SOFR + 1.599%) (2)		02/01/28		585,000		581,999
Lloyds Banking Group PLC (United Kingdom)
1.63% (1 yr. CMT + 0.850%) (2)		05/11/27		50,000		49,828
Morgan Stanley
1.51% (1 day USD SOFR + 0.858%) (2)		07/20/27		225,000		222,944
Morgan Stanley Private Bank NA
4.20% (1 day USD SOFR + 0.780%) (2)		11/17/28		625,000		622,963
PNC Financial Services Group, Inc.
5.58% (1 day USD SOFR + 1.841%) (2)		06/12/29		55,000		56,378
6.62% (1 day USD SOFR Index + 1.730%) (2)		10/20/27		40,000		40,467
Santander U.K. Group Holdings PLC (United Kingdom)
1.67% (1 day USD SOFR + 0.989%) (2)		06/14/27		105,000		104,348
U.S. Bancorp
4.65% (1 day USD SOFR + 1.230%) (2)		02/01/29		200,000		200,846
Wells Fargo & Co.
2.39% (1 day USD SOFR + 2.100%) (2)		06/02/28		560,000		546,655
5.57% (1 day USD SOFR + 1.740%) (2)		07/25/29		175,000		179,006
						5,299,985
Chemicals — 0.4%
International Flavors & Fragrances, Inc.
1.83% (1)		10/15/27		150,000		143,931
Commercial Services — 0.7%
Global Payments, Inc.
2.15%		01/15/27		300,000		294,645
Grand Canyon University
5.13%		10/01/28		5,000		4,973
						299,618
Computers — 0.2%
Dell International LLC/EMC Corp.
4.75%		04/01/28		70,000		70,503

See accompanying Notes to Financial Statements.

130

TCW MetWest Ultra Short Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Diversified Financial Services — 2.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
2.45%		10/29/26	$	300,000	$	296,616
Air Lease Corp.
3.63%		04/01/27		200,000		198,244
American Express Co.
4.73% (1 day USD SOFR + 1.260%) (2)		04/25/29		230,000		231,582
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27		87,000		84,131
						810,573
Electric — 0.8%
Alliant Energy Finance LLC
5.95% (1)		03/30/29		135,000		140,061
Eversource Energy
2.90%		03/01/27		200,000		197,520
						337,581
Gas — 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp.
9.38% (1)		06/01/28		5,000		5,142
9.50% (1)		06/01/30		4,000		4,244
						9,386
Health Care-Products — 0.3%
Stryker Corp.
4.70%		02/10/28		120,000		121,013
Household Products/Wares — 0.0%
Spectrum Brands, Inc.
3.88% (1)		03/15/31		6,000		5,206
Insurance — 0.9%
Metropolitan Life Global Funding I
4.30% (1)		08/25/29		360,000		357,055
Internet — 0.0%
Getty Images, Inc.
10.50% (1)		11/15/30		10,000		9,042
Lodging — 0.5%
Hyatt Hotels Corp.
5.05%		03/30/28		115,000		116,214
Las Vegas Sands Corp.
5.63%		06/15/28		90,000		91,238
						207,452
Media — 0.0%
DISH Network Corp.
11.75% (1)		11/15/27		3,000		3,093
Virgin Media Secured Finance PLC (United Kingdom)
5.50% (1)		05/15/29		11,000		10,556
						13,649

Issues	Maturity Date		Principal Amount		Value
Office/Business Equipment — 0.0%
Xerox Corp.
10.25% (1)		10/15/30	$	20,000	$	15,600
Oil & Gas — 0.1%
Sunoco LP
7.88% (5 yr. CMT + 4.230%) (1),(2),(5)		09/18/30		25,000		25,510
Transocean International Ltd.
8.75% (1)		02/15/30		3,500		3,654
						29,164
Packaging & Containers — 0.6%
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		10,000		8,413
Berry Global, Inc.
5.50%		04/15/28		225,000		229,378
						237,791
Pharmaceuticals — 0.6%
1261229 BC Ltd.
10.00% (1)		04/15/32		15,000		15,292
Bayer U.S. Finance LLC (Germany)
6.25% (1)		01/21/29		220,000		228,659
						243,951
Pipelines — 0.1%
Venture Global LNG, Inc.
8.13% (1)		06/01/28		20,000		20,494
9.00% (5 yr. CMT + 5.440%) (1),(2),(5)		09/30/29		5,000		4,982
Venture Global Plaquemines LNG LLC
6.13% (1)		12/15/30		9,000		9,266
6.50% (1)		06/15/34		1,000		1,042
6.75% (1)		01/15/36		11,000		11,652
7.50% (1)		05/01/33		5,000		5,502
						52,938
REIT — 3.3%
American Tower Corp. (REIT)
5.25%		07/15/28		250,000		254,372
Crown Castle, Inc.
3.80%		02/15/28		135,000		133,160
Extra Space Storage LP
3.88%		12/15/27		205,000		203,134
5.70%		04/01/28		135,000		137,889
Healthcare Realty Holdings LP
3.63%		01/15/28		220,000		215,596
Hudson Pacific Properties LP
3.95%		11/01/27		50,000		47,378
VICI Properties LP/VICI Notes Co., Inc.
5.75% (1)		02/01/27		285,000		286,690

See accompanying Notes to Financial Statements.

131

TCW MetWest Ultra Short Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
WP Carey, Inc.
4.65%		07/15/30	$	110,000	$	109,357
						1,387,576
Retail — 0.1%
Ferrellgas LP/Ferrellgas Finance Corp.
5.88% (1)		04/01/29		24,000		23,026
9.25% (1)		01/15/31		17,000		17,747
Papa John’s International, Inc.
3.88% (1)		09/15/29		10,000		9,548
						50,321
Savings & Loans — 0.5%
Nationwide Building Society (United Kingdom)
2.97% (1 day USD SOFR + 1.290%) (1),(2)		02/16/28		200,000		197,232
Semiconductors — 0.2%
Foundry JV Holdco LLC
5.50% (1)		01/25/31		95,000		97,133
Software — 0.2%
Cloud Software Group, Inc.
8.25% (1)		06/30/32		6,000		5,706
Fiserv, Inc.
4.55%		02/15/31		45,000		44,089
Oracle Corp.
4.80%		08/03/28		50,000		50,028
						99,823
Telecommunications — 0.4%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27		15,000		11,098
Altice France SA
6.50% (1)		04/15/32		2,770		2,622
9.50% (1)		11/01/29		2,067		2,093
EchoStar Corp.
10.75%		11/30/29		2,200		2,378
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
5.15% (1)		03/20/28		140,000		140,721
Zayo Group Holdings, Inc. (5.75% Cash or 0.50% PIK) due 3/29/27
9.25% (1)		03/09/30		19,299		19,190
						178,102
Water — 0.3%
Yorkshire Water Finance PLC (United Kingdom)
6.45%		05/28/27	GBP	100,000		132,906
Total Corporate Bonds
(Cost: $10,543,114)						10,676,259

Issues	Maturity Date		Principal Amount		Value
FOREIGN GOVERNMENT BONDS — 1.7%
Oman Government International Bonds
6.25% (1)		01/25/31	$	219,000	$	228,765
Qatar Government International Bonds
3.75% (1)		04/16/30		228,000		221,098
U.K. Gilts
4.38% (6)		03/07/28	GBP	195,000		257,229
Total Foreign Government Bonds
(Cost: $717,103)						707,092
U.S. TREASURY SECURITIES — 25.8%
U.S. Treasury Notes
3.38%		02/29/28		130,000		128,994
3.50%		03/15/29		695,000		688,946
3.88%		03/31/28		9,852,000		9,867,586
Total U.S. Treasury Securities
(Cost: $10,674,189)						10,685,526
U.S. GOVERNMENT AGENCY OBLIGATIONS — 3.6%
U.S. International Development Finance Corp.
1.49%		08/15/31		1,593,513		1,475,689
Total U.S. Government Agency Obligations
(Cost: $1,598,952)						1,475,689
Total Fixed Income Securities
(Cost: $42,180,658)						42,099,783
CONVERTIBLE SECURITIES — 0.0%
CONVERTIBLE CORPORATE BONDS — 0.0%
Commercial Services — 0.0%
Worldline SA (France)
0.00% (6),(7)		07/30/26	EUR	5,954		6,964
Total Convertible Corporate Bonds
(Cost: $6,448)						6,964
Issues			Shares		Value
MONEY MARKET INVESTMENTS — 12.0%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (8)				263,058		263,058
TCW Central Cash Fund, 3.69% (8),(9)				4,734,414		4,734,414
Total Money Market Investments (Cost: $4,997,472)					4,997,472
Total Investments (113.5%) (Cost: $47,184,578)					47,104,219
Liabilities In Excess Of Other Assets (-13.5%)						(5,590,872	)
Net Assets (100.0%)					$	41,513,347

See accompanying Notes to Financial Statements.

132

TCW MetWest Ultra Short Bond Fund

March 31, 2026

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
35	2-Year U.S. Treasury Note Futures		06/30/26	$	7,312,887		$	7,260,586		$	(52,301	)
Short Futures
18	10-Year U.S. Treasury Note Futures		06/18/26	$	(2,069,249	)	$	(2,043,281	)	$	25,968
35	5-Year U.S. Treasury Note Futures		06/30/26		(3,828,396	)		(3,786,289	)		42,107
4	U.S. Ultra Long Bond Futures		06/18/26		(476,508	)		(466,250	)		10,258
				$	(6,374,153	)	$	(6,295,820	)	$	78,333

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (10)
Goldman Sachs & Co.		AUD		10,071		04/01/26	$	6,985	$	6,897	$	(88	)
Citibank N.A.		EUR		2,622		04/01/26		3,048		3,021		(27	)
Goldman Sachs & Co.		EUR		51,326		04/01/26		59,745		59,138		(607	)
Citibank N.A.		GBP		196,241		04/01/26		261,295		258,783		(2,512	)
							$	331,073	$	327,839	$	(3,234	)
SELL (11)
Bank of America		AUD		10,052		04/01/26	$	6,718	$	6,885	$	(167	)
JP Morgan Chase Bank		AUD		18		04/01/26		13		13		—
Bank of America		EUR		48,363		04/01/26		56,933		55,724		1,209
Barclays Capital		EUR		5,585		04/01/26		6,548		6,435		113
Goldman Sachs & Co.		EUR		30,438		06/26/26		35,207		35,205		2
JP Morgan Chase Bank		GBP		196,241		04/01/26		261,888		258,782		3,106
Citibank N.A.		GBP		196,241		06/26/26		261,208		258,704		2,504
JP Morgan Chase Bank		GBP		103,059		06/26/26		136,291		135,862		429
							$	764,806	$	757,610	$	7,196

Centrally Cleared — Interest Rate Swap Agreements
Notional Amount	Expiration Date		Payment Made by Fund Frequency		Payment Made by Fund		Payment Received by Fund Frequency		Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid			Value
GBP 1,332,000		03/20/28		Annual		12 - Month SONIA		Annual		3.93	%	$	(3,119	)	$	(5,731	)	$	(8,850	)

Notes to the Schedule of Investments:

AUD Australian Dollar.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

GBP British Pound Sterling.

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.

REMIC Real Estate Mortgage Investment Conduits.

See accompanying Notes to Financial Statements.

133

TCW MetWest Ultra Short Bond Fund

Schedule of Investments (Continued)

SOFR Secured Overnight Financing Rate.

SONIA Sterling Overnight Index Average.

STRIPS Separate Trading of Registered Interest and Principal Securities.

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 March 31, 2026, the value of these securities amounted to $10,165,544 or 24.5% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(3) 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.

(4) 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.

(5) Perpetual maturity.

(6) 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 March 31, 2026, the value of these securities amounted to $264,193 or 0.6% of net assets.

(7) Security is not accruing interest.

(8) Rate disclosed is the 7-day net yield as of March 31, 2026.

(9) Affiliated issuer.

(10) Fund buys foreign currency, sells USD.

(11) Fund sells foreign currency, buys USD.

The summary of the TCW MetWest Ultra Short Bond Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund	$	1,349,875	$	122,384,539	$	119,000,000		4,734,414	$	4,734,414	$	230,457	$	—	$	—	$	—
Total									$	4,734,414	$	230,457	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

134

TCW MetWest Ultra Short Bond Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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
U.S. Treasury Securities	$	—		$	10,685,526		$	—	$	10,685,526
Corporate Bonds		—			10,676,259			—		10,676,259
Residential Mortgage-Backed Securities — Agency		—			8,749,932			—		8,749,932
Asset-Backed Securities		—			5,513,884			—		5,513,884
Commercial Mortgage-Backed Securities — Non-Agency		—			2,238,664			—		2,238,664
Residential Mortgage-Backed Securities — Non-Agency		—			1,715,002			—		1,715,002
U.S. Government Agency Obligations		—			1,475,689			—		1,475,689
Foreign Government Bonds		—			707,092			—		707,092
Commercial Mortgage-Backed Securities — Agency		—			337,735			—		337,735
Total Fixed Income Securities		—			42,099,783			—		42,099,783
Convertible Securities
Convertible Corporate Bonds		—			6,964			—		6,964
Equity Securities
Money Market Investments		4,997,472			—			—		4,997,472
Total Investments	$	4,997,472		$	42,106,747		$	—	$	47,104,219
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			7,363			—		7,363
Futures Contracts
Interest Rate Risk		78,333			—			—		78,333
Total	$	5,075,805		$	42,114,110		$	—	$	47,189,915
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(52,301	)	$	—		$	—	$	(52,301	)
Forward Currency Contracts
Foreign Currency Risk		—			(3,401	)		—		(3,401	)
Swap Agreements
Interest Rate Risk		—			(8,850	)		—		(8,850	)
Total	$	(52,301	)	$	(12,251	)	$	—	$	(64,552	)

See accompanying Notes to Financial Statements.

135

TCW MetWest Unconstrained Bond Fund

Schedule of Investments

Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES — 103.6% of Net Assets
ASSET-BACKED SECURITIES — 10.3%
321 Henderson Receivables VI LLC Series 2010-1A, Class B
9.31% (1)		07/15/61	$	52,119	$	52,580
AIMCO CLO 24 Ltd. Series 2025-24A, Class SUB
0.00% (1),(2),(3)		04/19/38		3,100,000		2,169,966
ALLO Issuer LLC Series 2023-1A, Class C
12.18% (1)		06/20/53		3,700,000		3,852,108
ALLO Issuer LLC Series 2024-1A, Class C
11.19% (1)		07/20/54		1,200,000		1,263,060
ALLO Issuer LLC Series 2025-1A, Class C
8.10% (1)		04/20/55		5,590,000		5,674,136
Avis Budget Rental Car Funding AESOP LLC Series 2021-2A, Class D
4.08% (1)		02/20/28		8,500,000		8,406,790
Avis Budget Rental Car Funding AESOP LLC Series 2022-1A, Class D
6.36% (1)		08/21/28		5,000,000		5,010,720
Avis Budget Rental Car Funding AESOP LLC Series 2023-2A, Class D
7.26% (1)		10/20/27		7,310,000		7,338,601
Bayview Opportunity Master Fund VII LLC Series 2024-EDU1, Class E
8.36% (30 day USD SOFR Average + 3.500%) (1),(4)		06/25/47		5,475,749		5,536,944
Blue Stream Issuer LLC Series 2023-1A, Class C
8.90% (1)		05/20/53		6,100,000		6,194,641
CARS-DB5 LP Series 2021-1A, Class A1
1.44% (1)		08/15/51		2,485,465		2,453,961
Carvana Auto Receivables Trust Series 2021-N3, Class R
0.00% (1),(3),(5)		06/12/28		19,250		1,421,487
Carvana Auto Receivables Trust Series 2021-N4, Class R
0.00% (1),(3),(5)		09/12/28		26,800		1,088,564
Carvana Auto Receivables Trust Series 2021-P4, Class R
0.00% (1),(3),(5)		09/11/28		14,200		1,482,976
Carvana Auto Receivables Trust Series 2022-N1, Class R
0.00% (1),(3),(5)		12/11/28		71,000		3,182,135
Carvana Auto Receivables Trust Series 2022-P2, Class R
0.00% (1),(3),(5)		05/10/29		54,850		5,580,840
Carvana Auto Receivables Trust Series 2023-P3, Class R
0.00% (1),(3)		08/12/30		16,200		1,595,851
CIT Education Loan Trust Series 2007-1, Class B
4.25% (90 day USD SOFR Average + 0.562%) (1),(4)		06/25/42		801,300		745,164
Clover CLO LLC Series 2018-1A, Class B1R
5.62% (3 mo. USD Term SOFR + 1.950%) (1),(4)		04/20/37		9,300,000		9,309,430

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC Series 2025-1A, Class C
9.41% (1)		05/20/55	$	8,142,000	$	8,484,017
Elmwood CLO 30 Ltd. Series 2024-6A, Class B
5.42% (3 mo. USD Term SOFR + 1.750%) (1),(4)		07/17/37		6,000,000		6,006,798
FHF Issuer Trust Series 2025-1A, Class A2
4.92% (1)		02/15/31		3,009,453		3,009,287
FIGRE Trust Series 2026-HE2, Class C
5.55% (1),(2)		01/25/56		5,208,826		5,173,080
Goal Capital Funding Trust Series 2006-1, Class B
5.30% (3 mo. USD LIBOR + 0.450%) (4)		08/25/42		136,575		132,968
GoldenTree Loan Management U.S. CLO 15 Ltd. Series 2022-15A, Class DR2
6.32% (3 mo. USD Term SOFR + 2.650%) (1),(4)		10/20/38		3,300,000		3,283,533
GoldenTree Loan Management U.S. CLO 25 Ltd. Series 2025-25A, Class D
7.17% (3 mo. USD Term SOFR + 3.500%) (1),(4)		04/20/38		6,325,000		6,345,246
Hertz Vehicle Financing III LP Series 2021-2A, Class C
2.52% (1)		12/27/27		5,569,500		5,497,050
Hertz Vehicle Financing III LP Series 2021-2A, Class D
4.34% (1)		12/27/27		4,225,000		4,172,840
Hertz Vehicle Financing LLC Series 2022-2A, Class D
5.16% (1)		06/26/28		6,750,000		6,625,861
HPS Loan Management Ltd. Series 2024-20A, Class B1
5.52% (3 mo. USD Term SOFR + 1.850%) (1),(4)		07/25/37		4,850,000		4,860,525
Huntington Bank Auto Credit-Linked Notes Series 2025-2, Class E
10.27% (30 day USD SOFR Average + 6.600%) (1), (4)		09/20/33		2,683,235		2,611,673
Huntington Bank Auto Credit-Linked Notes Series 2026-1, Class E
12.32% (30 day USD SOFR Average + 8.650%) (1),(4)		02/20/34		1,970,000		1,972,967
Invesco U.S. CLO Ltd. Series 2024-4A, Class SUB
0.00% (1),(2),(3)		01/15/38		8,000,000		4,415,976
Invesco U.S. CLO Ltd. Series 2024-4A, Class Y
0.05% (1),(2),(6),(7)		01/15/38		8,000,000		1
LMDV Issuer Co. LLC Series 2025-1A, Class C
7.88% (1)		12/15/55		2,600,000		2,620,524

See accompanying Notes to Financial Statements.

136

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March 31, 2026

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
Lmrk Issuer Co. 2 LLC Series 2025-1A, Class C
8.12% (1)		09/15/55	$	3,400,000	$	3,452,445
Madison Park Funding XXXIX Ltd. Series 2021-39A, Class BR
5.42% (3 mo. USD Term SOFR + 1.750%) (1),(4)		10/22/34		8,000,000		8,006,216
Magnetite XLII Ltd. Series 2024-42A, Class SUB
9.04% (1),(2)		01/25/38		7,550,000		4,769,018
MAPS Trust Series 2026-1A, Class B
6.13% (1)		01/15/51		2,667,271		2,648,732
NCFA LLC
2.75% (6)		06/12/28		5,260,667		5,260,667
NCFA LLC Loan Participation 3
7.90% (2),(6)		04/11/30		2,670,000		2,670,000
NCFA LLC Loan Participation 5
6.16% (6)		07/03/27		6,600,000		6,600,000
NCFA LLC – Loan Participation 1
2.75% (6)		06/12/28		780,068		780,068
NCFA LLC – Loan Participation 2
3.14% (6)		12/19/27		6,676,589		6,676,589
New Mountain CLO 8 Ltd. Series CLO-8A, Class M
0.00% (1),(3),(6),(7)		10/20/38		650,000		—
New Mountain CLO 8 Ltd. Series CLO-8A, Class SUB
0.00% (1),(2),(3)		10/20/38		6,500,000		4,596,027
Newday Funding Master Issuer PLC Series 2024-2X, Class E
7.63% (1 day GBP SONIA + 3.900%) (4),(8)		07/15/32	GBP	1,700,000		2,284,251
OCP CLO Ltd. Series 2025-44A, Class SUB
0.00% (1),(2),(3)		10/24/38		4,750,000		3,664,820
Owl Rock CLO XV LLC Series 2024-15A, Class A
5.97% (3 mo. USD Term SOFR + 2.300%) (1),(4)		01/20/36		4,650,000		4,653,674
Palmer Square CLO Ltd. Series 2024-3A, Class SUB
0.00% (1),(2),(3)		07/20/37		3,975,000		2,420,505
Rockford Tower CLO Ltd. Series 2025-2A, Class D1
7.02% (3 mo. USD Term SOFR + 3.350%) (1),(4)		03/31/38		6,710,000		6,621,495
Serenity-Peace Park CLO Ltd. Series 2025-1A, Class SUB
0.00% (1),(2),(3)		10/24/38		6,400,000		5,012,147
Sixth Street CLO XX Ltd. Series 2021-20A, Class SUB
0.00% (1),(2),(3)		07/17/38		4,900,000		1,990,326
Skyline Aviation, Inc. Class A
3.23% (6)		07/03/38		7,222,367		6,824,559

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
SLC Student Loan Trust Series 2004-1, Class B
4.34% (90 day USD SOFR Average + 0.552%) (4)		08/15/31	$	260,147	$	229,775
SLM Student Loan EDC Repackaging Trust Series 2013-M1, Class M1R
0.00% (1),(3),(5)		10/28/29		6,250		963,886
SLM Student Loan Trust Series 2003-12, Class B
4.54% (90 day USD SOFR Average + 0.852%) (4)		12/15/68		1,753,769		1,695,058
SLM Student Loan Trust Series 2003-7, Class B
4.52% (90 day USD SOFR Average + 0.832%) (4)		09/15/39		1,234,233		1,174,612
SLM Student Loan Trust Series 2004-10, Class B
4.52% (90 day USD SOFR Average + 0.632%) (4)		01/25/40		4,422,470		4,166,868
SLM Student Loan Trust Series 2004-2, Class B
4.62% (90 day USD SOFR Average + 0.732%) (4)		07/25/39		211,644		202,434
SLM Student Loan Trust Series 2005-3, Class B
4.30% (90 day USD SOFR Average + 0.412%) (4)		04/25/40		1,457,502		1,393,998
SLM Student Loan Trust Series 2006-8, Class B
4.38% (90 day USD SOFR Average + 0.492%) (4)		01/25/41		1,538,917		1,455,016
SLM Student Loan Trust Series 2007-7, Class B
4.90% (90 day USD SOFR Average + 1.012%) (4)		10/27/70		2,195,000		2,288,773
SLM Student Loan Trust Series 2007-8, Class B
5.15% (90 day USD SOFR Average + 1.262%) (4)		04/27/83		2,509,253		2,435,209
SLM Student Loan Trust Series 2008-2, Class B
5.35% (90 day USD SOFR Average + 1.462%) (4)		01/25/83		1,000,000		1,065,856

See accompanying Notes to Financial Statements.

137

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
SLM Student Loan Trust Series 2008-3, Class B
5.35% (90 day USD SOFR Average + 1.462%) (4)		04/26/83	$	710,000	$	739,134
SLM Student Loan Trust Series 2008-4, Class A4
5.80% (90 day USD SOFR Average + 1.912%) (4)		07/25/49		280,423		281,170
SLM Student Loan Trust Series 2008-4, Class B
6.00% (90 day USD SOFR Average + 2.112%) (4)		04/25/73		710,000		753,850
SLM Student Loan Trust Series 2008-5, Class B
6.00% (90 day USD SOFR Average + 2.112%) (4)		07/25/73		7,315,000		7,774,749
SLM Student Loan Trust Series 2008-6, Class B
6.00% (90 day USD SOFR Average + 2.112%) (4)		07/26/83		710,000		737,699
SLM Student Loan Trust Series 2008-7, Class B
6.00% (90 day USD SOFR Average + 2.112%) (4)		07/26/83		820,000		820,819
SLM Student Loan Trust Series 2012-1, Class A3
4.73% (30 day USD SOFR Average + 1.064%) (4)		09/25/28		357,554		354,096
SLM Student Loan Trust Series 2012-2, Class A
4.48% (30 day USD SOFR Average + 0.814%) (4)		01/25/29		575,646		562,670
SLM Student Loan Trust Series 2012-7, Class B
5.58% (30 day USD SOFR Average + 1.914%) (4)		09/25/43		2,200,000		2,120,840
SLM Student Loan Trust Series 2014-1, Class A3
4.38% (30 day USD SOFR Average + 0.714%) (4)		02/26/29		492,524		478,272
Structured Receivables Finance LLC Series 2010-A, Class B
7.61% (1)		01/16/46		327,368		329,222
Structured Receivables Finance LLC Series 2010-B, Class B
7.97% (1)		08/15/36		567,840		576,871

Issues	Maturity Date		Principal Amount		Value
ASSET-BACKED SECURITIES (Continued)
SVC ABS LLC Series 2026-1A, Class M
7.55% (1)		03/20/56	$	5,300,000	$	5,248,856
Switch ABS Issuer LLC Series 2024-2A, Class C
10.03% (1)		06/25/54		6,215,000		6,343,624
Switch ABS Issuer LLC Series 2025-2A, Class B
6.24% (1)		10/25/55		3,375,000		3,304,350
TIF Funding II LLC Series 2021-1A, Class B
2.54% (1)		02/20/46		2,294,292		2,089,025
Trinitas CLO XXII Ltd. Series 2023-22A, Class D1R
6.77% (3 mo. USD Term SOFR + 3.100%) (1),(4)		03/20/38		3,040,000		2,983,158
Triton Container Finance VIII LLC Series 2021-1A, Class B
2.58% (1)		03/20/46		1,762,375		1,622,533
U.S. Bank C&I Credit-Linked Notes Series 2025-SUP2, Class E
7.36% (30 day USD SOFR Average + 3.700%) (1),(4)		09/25/32		1,316,090		1,344,040
U.S. Bank C&I Credit-Linked Notes Series 2025-SUP2, Class R
10.16% (30 day USD SOFR Average + 6.500%) (1),(4)		09/25/32		2,364,849		2,390,286
Wireless PropCo Funding LLC Series 2025-1A, Class C
8.51% (1)		06/25/55		1,250,000		1,261,118
Total Asset-Backed Securities
(Cost: $318,681,502)					275,691,706
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 24.5%
Federal Home Loan Mortgage Corp., Pool #SD8244
4.00%		09/01/52		7,668,831		7,265,842
Federal Home Loan Mortgage Corp., Pool #SD8256
4.00%		10/01/52		15,975,593		15,134,854
Federal Home Loan Mortgage Corp., Pool #SD8265
4.00%		11/01/52		23,596,401		22,352,777
Federal Home Loan Mortgage Corp., Pool #SD8245
4.50%		09/01/52		5,857,913		5,678,584
Federal Home Loan Mortgage Corp., Pool #SD8257
4.50%		10/01/52		13,399,894		12,988,434
Federal Home Loan Mortgage Corp., Pool #SD8275
4.50%		12/01/52		28,812,370		27,924,974
Federal Home Loan Mortgage Corp., Pool #SD8347
4.50%		08/01/53		9,360,549		9,062,845
Federal Home Loan Mortgage Corp., Pool #SD8323
5.00%		05/01/53		9,288,037		9,197,180
Federal Home Loan Mortgage Corp. REMICS Series 3339, Class JS (I/F)
18.22% (-30 day USD SOFR Average + 42.091%) (4)		07/15/37		4,092		5,815

See accompanying Notes to Financial Statements.

138

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 3404, Class AS (I/O) (I/F)
2.11% (-30 day USD SOFR Average + 5.781%) (4)		01/15/38	$	22,351	$	1,745
Federal Home Loan Mortgage Corp. REMICS Series 3439, Class SC (I/O) (I/F)
2.11% (-30 day USD SOFR Average + 5.786%) (4)		04/15/38		17,624		1,145
Federal Home Loan Mortgage Corp. REMICS Series 3885 (P/O) (PAC)
0.00% (3)		11/15/33		5,578		5,202
Federal Home Loan Mortgage Corp. REMICS Series 4030, Class HS (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.496%) (4)		04/15/42		43,884		4,625
Federal Home Loan Mortgage Corp. REMICS Series 5070, Class MI (I/O)
3.50%		02/25/51		4,945,666		793,968
Federal Home Loan Mortgage Corp. REMICS Series 5084, Class NI (I/O) (PAC)
4.00%		10/25/44		5,836,937		1,142,806
Federal Home Loan Mortgage Corp. REMICS Series 5149, Class DI (I/O)
4.00%		10/25/48		6,020,000		1,176,691
Federal Home Loan Mortgage Corp. REMICS Series 5468, Class SE (I/O) (I/F)
1.69% (-30 day USD SOFR Average + 5.350%) (4)		10/25/54		23,760,236		1,750,156
Federal Home Loan Mortgage Corp. REMICS Series 5473, Class SL (I/O) (I/F)
1.69% (-30 day USD SOFR Average + 5.350%) (4)		11/25/54		37,895,317		2,142,513
Federal Home Loan Mortgage Corp. REMICS Series 5496, Class S (I/O) (I/F)
2.24% (-30 day USD SOFR Average + 5.900%) (4)		01/25/55		25,747,422		1,960,443
Federal Home Loan Mortgage Corp. REMICS Series 5512, Class LS (I/O) (I/F)
2.23% (-30 day USD SOFR Average + 5.896%) (4)		03/25/55		11,717,389		871,892

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal Home Loan Mortgage Corp. REMICS Series 5544, Class SD (I/O) (I/F)
1.39% (-30 day USD SOFR Average + 5.050%) (4)		06/25/55	$	34,324,058	$	2,007,594
Federal Home Loan Mortgage Corp. REMICS Series 5546, Class AS (I/F)
5.01% (-30 day USD SOFR Average + 10.500%) (4)		06/25/55		3,222,500		3,062,857
Federal Home Loan Mortgage Corp. REMICS Series 5547, Class S (I/F)
5.08% (-30 day USD SOFR Average + 10.575%) (4)		06/25/55		3,389,246		3,076,064
Federal Home Loan Mortgage Corp. REMICS Series 5548, Class S (I/F)
5.56% (-30 day USD SOFR Average + 11.667%) (4)		06/25/55		3,156,624		3,036,026
Federal Home Loan Mortgage Corp. REMICS Series 5549, Class JS (I/F)
5.01% (-30 day USD SOFR Average + 10.500%) (4)		06/25/55		1,058,922		1,009,435
Federal Home Loan Mortgage Corp. REMICS Series 5578, Class SD (I/O)
2.24% (-30 day USD SOFR Average + 5.900%) (4)		09/25/55		26,183,602		2,579,022
Federal Home Loan Mortgage Corp. REMICS Series 5617, Class IL (I/O)
4.00%		08/25/51		11,722,076		2,520,477
Federal Home Loan Mortgage Corp. STRIPS Series 386, Class C1 (I/O)
2.00%		03/15/52		33,518,720		4,326,106
Federal Home Loan Mortgage Corp. STRIPS Series 399, Class C38 (I/O)
3.50%		12/25/52		5,616,682		1,090,931
Federal National Mortgage Association, Pool #MA4626
4.00%		06/01/52		6,675,564		6,326,323
Federal National Mortgage Association, Pool #MA4866
4.00%		01/01/53		7,036,120		6,664,743
Federal National Mortgage Association, Pool #MA4656
4.50%		07/01/52		10,879,249		10,548,224
Federal National Mortgage Association, Pool #MA4733
4.50%		09/01/52		15,016,131		14,556,440

See accompanying Notes to Financial Statements.

139

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association, Pool #MA4784
4.50%		10/01/52	$	10,791,531	$	10,460,165
Federal National Mortgage Association, Pool #FS9442
4.50%		03/01/53		2,826,782		2,739,719
Federal National Mortgage Association, Pool #MA5037
4.50%		06/01/53		1,850,159		1,790,633
Federal National Mortgage Association, Pool #MA5009
5.00%		05/01/53		12,510,805		12,382,289
Federal National Mortgage Association, Pool #FS7252
5.00%		11/01/53		11,174,157		11,074,800
Federal National Mortgage Association Interest STRIPS Series 426, Class C40 (I/O)
2.00%		06/25/51		7,061,247		952,622
Federal National Mortgage Association Interest STRIPS Series 426, Class C41 (I/O)
2.00%		03/25/51		26,661,753		3,580,208
Federal National Mortgage Association Interest STRIPS Series 426, Class C42 (I/O)
2.00%		11/25/50		15,324,750		2,059,616
Federal National Mortgage Association Interest STRIPS Series 434, Class C29 (I/O)
2.00%		10/25/52		40,619,179		5,200,973
Federal National Mortgage Association Interest STRIPS Series 436, Class C32 (I/O)
2.00%		10/25/52		13,580,065		1,843,590
Federal National Mortgage Association REMICS Series 2006-11, Class PS (I/F) (PAC)
10.72% (-30 day USD SOFR Average + 24.147%) (4)		03/25/36		7,213		8,291
Federal National Mortgage Association REMICS Series 2006-8, Class HJ (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.486%) (4)		03/25/36		300,409		28,430
Federal National Mortgage Association REMICS Series 2007-52, Class LS (I/O) (I/F)
2.27% (-30 day USD SOFR Average + 5.936%) (4)		06/25/37		15,704		1,290
Federal National Mortgage Association REMICS Series 2007-77, Class SK (I/O) (I/F)
2.09% (-30 day USD SOFR Average + 5.756%) (4)		08/25/37		40,375		3,014
Federal National Mortgage Association REMICS Series 2007-88, Class JI (I/O) (I/F)
2.67% (-30 day USD SOFR Average + 6.336%) (4)		04/25/37		302,336		27,235

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association REMICS Series 2008-18, Class SM (I/O) (I/F)
3.22% (-30 day USD SOFR Average + 6.886%) (4)		03/25/38	$	21,803	$	2,309
Federal National Mortgage Association REMICS Series 2008-62, Class SN (I/O) (I/F)
2.42% (-30 day USD SOFR Average + 6.086%) (4)		07/25/38		55,473		4,053
Federal National Mortgage Association REMICS Series 2010-116, Class SE (I/O) (I/F)
2.82% (-30 day USD SOFR Average + 6.486%) (4)		10/25/40		16,941		1,504
Federal National Mortgage Association REMICS Series 2013-5, Class GF
4.88% (30 day USD SOFR Average + 1.214%) (4)		10/25/42		103,379		102,874
Federal National Mortgage Association REMICS Series 2014-49, Class CF
4.78% (30 day USD SOFR Average + 1.114%) (4)		07/25/43		4,570,881		4,556,881
Federal National Mortgage Association REMICS Series 2021-59, Class KI (I/O)
4.00%		09/25/51		8,190,847		2,040,419
Federal National Mortgage Association REMICS Series 2021-70, Class AI (I/O)
4.00%		10/25/51		8,095,500		1,785,565
Federal National Mortgage Association REMICS Series 2024-98, Class SC (I/O) (I/F)
2.29% (-30 day USD SOFR Average + 5.950%) (4)		12/25/54		10,837,879		989,659
Federal National Mortgage Association REMICS Series 2024-98, Class SE (I/O) (I/F)
2.32% (-30 day USD SOFR Average + 5.980%) (4)		12/25/54		7,660,525		688,702
Federal National Mortgage Association REMICS Series 2025-49, Class SC (I/O)
1.54% (-30 day USD SOFR Average + 5.200%) (4)		06/25/55		13,313,053		675,874

See accompanying Notes to Financial Statements.

140

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Government National Mortgage Association, Pool #MA8346
4.00%		10/20/52	$	7,025,559	$	6,658,178
Government National Mortgage Association REMICS Series 2011-146, Class EI (I/O) (PAC)
5.00%		11/16/41		40,585		7,192
Government National Mortgage Association REMICS Series 2011-70, Class IL (I/O) (I/F)
0.60% (-1 mo. USD Term SOFR + 6.986%) (4)		06/16/37		252,202		4,516
Government National Mortgage Association REMICS Series 2011-81, Class IC (I/O) (I/F)
0.62% (-1 mo. USD Term SOFR + 6.606%) (4)		07/20/35		269,042		4,566
Government National Mortgage Association REMICS Series 2013-135, Class CS (I/O) (I/F)
2.41% (-1 mo. USD Term SOFR + 6.086%) (4)		09/16/43		999,455		96,312
Government National Mortgage Association REMICS Series 2017-136 (I/O)
5.00%		09/20/47		190,855		39,774
Government National Mortgage Association REMICS Series 2024-151, Class ES (I/O) (I/F)
1.73% (-30 day USD SOFR Average + 5.400%) (4)		09/20/54		15,524,558		906,203
Government National Mortgage Association REMICS Series 2024-154, Class SB (I/O) (I/F)
1.73% (-30 day USD SOFR Average + 5.400%) (4)		09/20/54		17,980,039		1,015,321
Government National Mortgage Association REMICS Series 2024-160, Class KS (I/O) (I/F)
1.81% (-30 day USD SOFR Average + 5.480%) (4)		10/20/54		19,715,854		1,147,809
Government National Mortgage Association REMICS Series 2024-30, Class AF
4.92% (30 day USD SOFR Average + 1.250%) (4)		02/20/54		764,646		770,541
Government National Mortgage Association, TBA
3.50% (9)		07/01/55		19,000,000		17,339,713
4.00% (9)		06/01/55		56,050,000		52,470,563

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Uniform Mortgage-Backed Security, TBA
3.50% (9)		12/01/51	$	79,050,000	$	72,472,793
4.00% (9)		05/01/55		1,975,000		1,861,477
4.00% (9)		05/01/55		103,475,000		97,622,868
4.50% (9)		01/01/56		53,475,000		51,585,862
5.00% (9)		01/01/56		63,950,000		63,057,897
5.50% (9)		12/01/55		43,250,000		43,455,005
Total Residential Mortgage-Backed Securities — Agency (Cost: $652,977,933)					653,784,038
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY— 12.5%
245 Park Avenue Trust Series 2017-245P, Class E
3.66% (1),(2)		06/05/37		7,400,000		7,151,803
280 Park Avenue Mortgage Trust Series 2017-280P, Class D
5.51% (1 mo. USD Term SOFR + 1.836%) (1),(4)		09/15/34		5,537,500		5,457,414
280 Park Avenue Mortgage Trust Series 2017-280P, Class E
6.09% (1 mo. USD Term SOFR + 2.419%) (1),(4)		09/15/34		5,889,000		5,775,458
Acore Issuer LLC Series 2026-FL1, Class C
5.78% (1 mo. USD Term SOFR + 2.100%) (1),(4)		08/20/43		4,135,000		4,126,897
ACRE Multifamily Housing Mortgage Loan Trust Series 2022-Q018, Class B
7.67% (30 day USD SOFR Average + 4.000%) (1),(4)		06/25/27		2,524,703		2,523,001
AMSR Trust Series 2021-SFR3, Class G
3.80% (1)		10/17/38		5,000,000		4,937,282
AMSR Trust Series 2022-SFR1, Class F
6.02% (1)		03/17/39		4,500,000		4,469,442
AMSR Trust Series 2022-SFR3, Class E1
4.00% (1)		10/17/39		10,000,000		9,742,451
BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A
4.09% (1),(2)		08/10/38		7,845,000		7,676,809
BAMLL Commercial Mortgage Securities Trust Series 2020-BOC, Class X (I/O)
0.47% (1),(2)		01/15/32		98,610,000		167,977
BBCMS Trust Series 2015-SRCH, Class D
4.96% (1),(2)		08/10/35		1,540,000		1,431,696
BGME Trust Series 2021-VR, Class B
2.99% (1),(2)		01/10/43		3,300,000		2,770,727
BGME Trust Series 2021-VR, Class D
2.99% (1),(2)		01/10/43		3,300,000		2,427,866

See accompanying Notes to Financial Statements.

141

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY (Continued)
BX Commercial Mortgage Trust Series 2020-VIVA, Class D
3.55% (1),(2)		03/11/44	$	5,000,000	$	4,634,842
BX Commercial Mortgage Trust Series 2025-BCAT, Class D
6.32% (1 mo. USD Term SOFR + 2.650%) (1),(4)		08/15/42		2,510,706		2,521,499
BX Commercial Mortgage Trust Series 2025-BCAT, Class E
7.17% (1 mo. USD Term SOFR + 3.500%) (1),(4)		08/15/42		2,874,855		2,890,934
BX Trust Series 2019-OC11, Class E
3.94% (1),(2)		12/09/41		7,410,000		6,862,180
BX Trust Series 2021-LBA, Class EJV
6.04% (1 mo. USD Term SOFR + 2.364%) (1),(4)		02/15/36		1,500,000		1,498,864
BX Trust Series 2023-LIFE, Class C
5.88% (1)		02/15/28		4,362,000		4,221,812
BX Trust Series 2025-VLT6, Class E
6.86% (1 mo. USD Term SOFR + 3.191%) (1),(4)		03/15/42		5,405,000		5,371,398
BX Trust Series 2025-VLT7, Class D
6.92% (1 mo. USD Term SOFR + 3.250%) (1),(4)		07/15/44		4,000,000		3,982,151
BXHPP Trust Series 2021-FILM, Class E
5.79% (1 mo. USD Term SOFR + 2.114%) (1),(4)		08/15/36		5,367,000		4,538,469
Caister Finance DAC Series 1A, Class D
7.64% (1 day GBP SONIA + 3.900%) (1),(4)		08/17/35	GBP	1,442,000		1,903,403
Caister Finance DAC Series 1A, Class E
9.49% (1 day GBP SONIA + 5.750%) (1),(4)		08/17/35	GBP	1,100,000		1,445,082
CD Mortgage Trust Series 2016-CD1, Class XA (I/O)
1.33% (2)		08/10/49		45,233,320		2,171
CHI Commercial Mortgage Trust Series 2025-SFT, Class D
6.84% (1),(2)		04/15/42		7,232,000		7,392,215
COMM Mortgage Trust Series 2012-CR4, Class XA (I/O)
1.14% (2)		10/15/45		8,525,699		191,480

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY (Continued)
CoreVest American Finance Ltd. Series 2021-3, Class XA (I/O)
2.37% (1),(2)		10/15/54	$	42,082,955	$	391,245
CoreVest American Finance Trust Series 2019-3, Class XA (I/O)
1.99% (1),(2),(7)		10/15/52		355,136		4
CoreVest American Finance Trust Series 2020-1, Class A2
2.30% (1)		03/15/50		1,909,504		1,816,413
CoreVest American Finance Trust Series 2020-4, Class XB (I/O)
2.36% (1),(2)		12/15/52		8,369,802		388,720
CSAIL Commercial Mortgage Trust Series 2019-C16, Class XA (I/O)
1.53% (2)		06/15/52		85,384,620		3,289,033
DGWD Trust Series 2025-INFL, Class D
6.42% (1 mo. USD Term SOFR + 2.750%) (1),(4)		08/15/35		2,750,000		2,743,486
DOLP Trust Series 2021-NYC, Class D
3.70% (1),(2)		05/10/41		4,740,000		4,027,478
DROP Mortgage Trust Series 2021-FILE, Class A
4.94% (1 mo. USD Term SOFR + 1.264%) (1),(4)		10/15/43		5,520,000		5,506,890
DROP Mortgage Trust Series 2021-FILE, Class D
6.54% (1 mo. USD Term SOFR + 2.864%) (1),(4)		10/15/43		3,145,000		3,076,203
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K051, Class X3 (I/O)
3.92% (2)		10/25/43		736,016		7
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K055, Class X3 (I/O)
1.74% (2)		04/25/44		17,987,327		180
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KS06, Class X (I/O)
0.88% (2)		08/25/26		23,568,550		236
Federal National Mortgage Association-ACES Series 2016-M2, Class X3 (I/O)
2.04% (2)		04/25/36		4,625,968		46
FirstKey Homes Trust Series 2021-SFR1, Class F3
3.69% (1)		08/17/38		6,285,000		6,232,374
FRTKL Group, Inc. Series 2021-SFR1, Class G
4.11% (1)		09/17/38		9,435,000		9,281,636
Grace Trust Series 2020-GRCE, Class D
2.68% (1),(2)		12/10/40		2,950,000		2,607,891
GS Mortgage Securities Corp. Trust Series 2023-FUN, Class B
6.46% (1 mo. USD Term SOFR + 2.790%) (1),(4)		03/15/28		5,160,000		5,187,987
Hilton USA Trust Series 2016-HHV, Class F
4.19% (1),(2)		11/05/38		7,840,000		7,721,510
Hudson Yards Mortgage Trust Series 2019-55HY, Class F
2.94% (1),(2)		12/10/41		6,891,000		5,934,721

See accompanying Notes to Financial Statements.

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Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY (Continued)
Hudson Yards Mortgage Trust Series 2025-SPRL, Class E
6.68% (1),(2)		01/13/40	$	4,000,000	$	4,065,057
Hudson Yards Mortgage Trust Series 2025-SPRL, Class F
7.40% (1),(2)		01/13/40		3,358,000		3,365,717
ILPT Commercial Mortgage Trust Series 2022-LPFX, Class A
3.38% (1)		03/15/32		11,000,000		10,037,765
ILPT Commercial Mortgage Trust Series 2025-LPF2, Class E
8.20% (1),(2)		07/13/42		4,970,000		5,080,432
JPMorgan Chase Commercial Mortgage Securities Trust Series 2022-NLP, Class H
8.93% (1 mo. USD Term SOFR + 5.260%) (1),(4)		04/15/37		5,119,048		4,868,430
JPMorgan Chase Commercial Mortgage Securities Trust Series 2025-BMS, Class D
6.82% (1 mo. USD Term SOFR + 3.150%) (1),(4)		01/15/42		3,129,000		3,121,383
KRE Commercial Mortgage Trust Series 2025-AIP4, Class E
6.67% (1 mo. USD Term SOFR + 3.000%) (1),(4)		03/15/42		3,855,231		3,841,197
Life Mortgage Trust Series 2021-BMR, Class G
6.74% (1 mo. USD Term SOFR + 3.064%) (1),(4)		03/15/38		2,800,000		2,461,382
MKT Mortgage Trust Series 2020-525M, Class C
2.94% (1),(2)		02/12/40		4,970,000		4,169,444
MKT Mortgage Trust Series 2020-525M, Class D
2.94% (1),(2)		02/12/40		3,782,000		3,092,748
MKT Mortgage Trust Series 2020-525M, Class XA (I/O)
0.21% (1),(2)		02/12/40		147,585,000		1,087,583
Morgan Stanley Bank of America Merrill Lynch Trust Series 2015-C22, Class XA (I/O)
0.52% (2)		04/15/48		10,521,177		105
Natixis Commercial Mortgage Securities Trust Series 2018-ALXA, Class E
4.32% (1),(2)		01/15/43		1,050,000		922,316
NYC Commercial Mortgage Trust Series 2025-3BP, Class D
6.11% (1 mo. USD Term SOFR + 2.441%) (1),(4)		02/15/42		2,320,000		2,318,345
NYCT Trust Series 2024-3ELV, Class C
6.51% (1 mo. USD Term SOFR + 2.840%) (1),(4)		08/15/29		7,719,083		7,742,006
One New York Plaza Trust Series 2020-1NYP, Class AJ
5.04% (1 mo. USD Term SOFR + 1.364%) (1),(4)		01/15/36		2,630,000		2,489,131

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY (Continued)
PGA Trust Series 2024-RSR2, Class A
5.56% (1 mo. USD Term SOFR + 1.891%) (1),(4)		06/15/39	$	8,873,000	$	8,855,405
Progress Residential Trust Series 2021-SFR10, Class G
4.86% (1)		12/17/40		3,315,723		3,246,542
Progress Residential Trust Series 2021-SFR11, Class G
4.69% (1)		01/17/39		3,000,000		2,900,739
Progress Residential Trust Series 2021-SFR3, Class F
3.44% (1)		05/17/26		3,700,000		3,687,152
Progress Residential Trust Series 2021-SFR3, Class G
4.25% (1)		05/17/26		15,752,000		15,692,123
Progress Residential Trust Series 2021-SFR8, Class G
4.01% (1)		10/17/38		4,886,000		4,827,299
Progress Residential Trust Series 2022-SFR1, Class G
5.52% (1)		02/17/41		5,517,817		5,394,715
RIDE Series 2025-SHRE, Class D
6.30% (1),(2)		02/14/47		3,225,000		3,293,881
RIDE Series 2025-SHRE, Class E
7.29% (1),(2)		02/14/47		2,000,000		2,066,053
ROCK Trust Series 2024-CNTR, Class E
8.82% (1)		11/13/41		2,500,000		2,608,060
Sage AR Funding Series 2026-1A, Class D
6.23% (1 day GBP SONIA + 2.500%) (1),(4)		05/18/38	GBP	2,800,000		3,713,924
Sequoia Logistics DAC Series 2025-1A, Class E
5.80% (3 mo. EUR EURIBOR + 3.800%) (1),(4)		02/17/37	EUR	3,500,000		4,023,094
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A2B
4.14% (1),(2)		01/05/43		1,840,000		1,597,091
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class C
4.39% (1),(2)		01/05/43		10,000,000		7,925,541
SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class D
4.39% (1),(2)		01/05/43		13,330,000		9,931,555
SLG Office Trust Series 2021-OVA, Class F
2.85% (1)		07/15/41		3,000,000		2,487,844
SLG Office Trust Series 2026-OMA, Class F
7.92% (1),(2),(10)		04/15/41		2,670,000		2,693,010
SMRT Commercial Mortgage Trust Series 2022-MINI, Class F
7.02% (1 mo. USD Term SOFR + 3.350%) (1),(4)		01/15/39		6,570,000		6,413,484

See accompanying Notes to Financial Statements.

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — NON- AGENCY (Continued)
SWCH Commercial Mortgage Trust Series 2025-DATA, Class E
7.01% (1 mo. USD Term SOFR + 3.340%) (1),(4)		02/15/42	$	7,445,000	$	7,335,209
TCO Commercial Mortgage Trust Series 2024-DPM, Class D
6.41% (1 mo. USD Term SOFR + 2.741%) (1),(4)		12/15/39		5,650,000		5,655,487
Tricon Residential Trust Series 2021-SFR1, Class F
3.69% (1)		07/17/38		5,820,000		5,780,038
U.K. Logistics DAC Series 2025-1A, Class E
9.25% (1 day GBP SONIA + 5.500%) (1),(4)		05/17/35	GBP	951,188		1,253,674
WFRBS Commercial Mortgage Trust Series 2013-C14, Class XA (I/O)
0.30% (2)		06/15/46		729,288		7
WFRBS Commercial Mortgage Trust Series 2014-C23, Class XA (I/O)
0.10% (2)		10/15/57		826,340		1,148
Total Commercial Mortgage-Backed Securities — Non-Agency
(Cost: $352,506,411)						334,367,499
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY — 0.8%
Federal Home Loan Mortgage Corp. Multifamily PC REMIC Trust Series 2019-P002, Class X (I/O)
0.77% (2)		07/25/33		14,520,699		739,395
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K056, Class X1 (I/O)
1.21% (2)		05/25/26		37,278,495		21,539
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K057, Class X1 (I/O)
1.16% (2)		07/25/26		91,980,149		120,696
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KC05, Class X1 (I/O)
1.18% (2)		06/25/27		57,671,187		464,726
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KC07, Class X1 (I/O)
0.73% (2)		09/25/26		63,433,543		194,957
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KL05, Class X1HG (I/O)
1.22% (2)		12/25/27		49,444,667		1,931
Federal National Mortgage Association-ACES Series 2016-M11, Class X2 (ACES) (I/O)
2.97% (2)		07/25/39		6,927,119		124,156
Federal National Mortgage Association-ACES Series 2016-M4, Class X2 (I/O)
2.69% (2)		01/25/39		15,070,705		527,939

Issues	Maturity Date		Principal Amount		Value
COMMERCIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)
Federal National Mortgage Association-ACES Series 2019-M29, Class X4 (ACES) (I/O)
0.70% (2)		03/25/29	$	117,375,779	$	1,816,015
FREMF Mortgage Trust Series 2017-KW03, Class C
0.00% (1),(3)		08/25/27		6,135,000		5,465,567
FREMF Mortgage Trust Series 2019-KF71, Class B
6.08% (30 day USD SOFR Average + 2.414%) (1),(4)		10/25/29		578,866		546,091
FREMF Mortgage Trust Series 2020-KF75, Class B
6.03% (30 day USD SOFR Average + 2.364%) (1),(4)		12/25/29		832,573		781,184
FREMF Mortgage Trust Series 2020-KF78, Class C
11.65% (30 day USD SOFR Average + 7.984%) (1),(4)		03/25/30		3,228,631		3,190,264
FREMF Mortgage Trust Series 2020-KF88, Class C
12.78% (30 day USD SOFR Average + 9.114%) (1),(4)		09/25/30		2,828,630		2,847,437
Government National Mortgage Association Series 2011-152 (I/O)
0.01% (2)		08/16/51		2,392,282		63
Government National Mortgage Association Series 2012-112 (I/O)
0.11% (2)		02/16/53		15,446,674		45,781
Government National Mortgage Association Series 2012-78 (I/O)
0.03% (2)		06/16/52		16,639,086		987
Government National Mortgage Association Series 2014-103 (I/O)
0.18% (2)		05/16/55		13,163,463		63,041
Government National Mortgage Association Series 2014-125 (I/O)
0.87% (2)		11/16/54		5,867,082		149,909
Government National Mortgage Association Series 2023-127 (I/O)
0.40% (2)		07/16/57		153,287,501		2,607,957
Total Commercial Mortgage-Backed Securities — Agency (Cost: $28,583,017)					19,709,635
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY—26.6%
ABFC Trust Series 2007-WMC1, Class A1A
5.04% (1 mo. USD Term SOFR + 1.364%) (4)		06/25/37		13,958,106		10,075,043
ABFC Trust Series 2007-WMC1, Class A2B
4.79% (1 mo. USD Term SOFR + 1.114%) (4)		06/25/37		2,567,757		2,207,623

See accompanying Notes to Financial Statements.

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Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
ACE Securities Corp. Home Equity Loan Trust Series 2006-HE3, Class A2C
4.09% (1 mo. USD Term SOFR + 0.414%) (4)		06/25/36	$	3,869,037	$	2,875,581
ACE Securities Corp. Home Equity Loan Trust Series 2006-NC3, Class A2C
4.11% (1 mo. USD Term SOFR + 0.434%) (4)		12/25/36		49,601,878		12,371,477
ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP1, Class A1
4.11% (1 mo. USD Term SOFR + 0.434%) (4)		03/25/37		25,873,238		11,023,407
ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP1, Class A2D
4.55% (1 mo. USD Term SOFR + 0.874%) (4)		03/25/37		2,039,153		832,591
Adjustable Rate Mortgage Trust Series 2005-4, Class 5A1
4.26% (2)		08/25/35		1,017,051		825,304
Adjustable Rate Mortgage Trust Series 2007-1, Class 1A1
5.12% (2)		03/25/37		949,319		768,331
American Home Mortgage Investment Trust Series 2006-1, Class 11A
4.07% (1 mo. USD Term SOFR + 0.394%) (4)		03/25/46		6,298,684		5,748,056
American Home Mortgage Investment Trust Series 2006-1, Class 12A
4.19% (1 mo. USD Term SOFR + 0.514%) (4)		03/25/46		1,952,592		1,775,425
Argent Securities Trust Series 2006-W3, Class A2C
4.15% (1 mo. USD Term SOFR + 0.474%) (4)		04/25/36		35,875,427		10,119,139
Asset-Backed Securities Corp. Home Equity Loan Trust Series 2004-HE9, Class M1
4.77% (1 mo. USD Term SOFR + 1.089%) (4)		12/25/34		809,336		765,820
Asset-Backed Securities Corp. Home Equity Loan Trust Series 2006-HE5, Class A5
3.07% (1 mo. USD Term SOFR + 0.594%) (4)		07/25/36		1,213,366		1,207,151
Banc of America Alternative Loan Trust Series 2003-8, Class 1CB
5.50%		10/25/33		242,535		244,285
Banc of America Funding Corp. Series 2015-R3, Class 6A2
4.13% (1),(2)		05/27/36		6,177,005		6,032,745

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Banc of America Funding Trust Series 2006-D, Class 3A1
4.87% (2)		05/20/36	$	469,944	$	424,766
Banc of America Mortgage Trust Series 2005-K, Class 2A1
5.06% (2)		12/25/35		430,546		398,679
BCAP LLC Trust Series 2007-AA1, Class 2A1
4.15% (1 mo. USD Term SOFR + 0.474%) (4)		03/25/37		1,925,765		1,807,178
Bear Stearns ALT-A Trust Series 2005-2, Class 2A4
3.75% (2)		04/25/35		440,619		403,988
Bear Stearns ALT-A Trust Series 2005-8, Class 11A1
4.33% (1 mo. USD Term SOFR + 0.654%) (4)		10/25/35		3,665,601		3,434,045
Bear Stearns ARM Trust Series 2005-9, Class A1
6.42% (1 yr. CMT + 2.300%) (4)		10/25/35		599,522		581,048
Bear Stearns Asset-Backed Securities I Trust Series 2005-AC6, Class 1A3
5.50% (2)		09/25/35		202,853		193,419
Bear Stearns Asset-Backed Securities I Trust Series 2006-AC2, Class 21A (PAC)
6.00%		03/25/36		3,628		3,622
Bear Stearns Mortgage Funding Trust Series 2007-AR4, Class 1A1
4.19% (1 mo. USD Term SOFR + 0.514%) (4)		09/25/47		3,601,791		3,347,532
Bear Stearns Mortgage Funding Trust Series 2007-AR4, Class 2A1
4.00% (1 mo. USD Term SOFR + 0.324%) (4)		06/25/37		2,799,941		2,669,732
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2B
3.46%		02/25/37		3,432,683		1,958,279
C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2C
3.46%		02/25/37		821,584		468,698
C-BASS Mortgage Loan Trust Series 2007-CB3, Class A3
3.26%		03/25/37		4,898,319		1,767,986
C-BASS Trust Series 2006-CB9, Class A2
4.01% (1 mo. USD Term SOFR + 0.334%) (4)		11/25/36		6,408,542		2,968,844
C-BASS Trust Series 2007-CB1, Class AF2
3.08%		01/25/37		2,284,104		620,310
C-BASS Trust Series 2007-CB5, Class A1
3.21% (1 mo. USD Term SOFR + 0.234%) (4)		04/25/37		1,102,766		659,651
Carrington Mortgage Loan Trust Series 2006-NC4, Class A4
4.03% (1 mo. USD Term SOFR + 0.354%) (4)		10/25/36		14,364,300		12,703,803

See accompanying Notes to Financial Statements.

145

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Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Cascade MH Asset Trust Series 2022-MH1, Class A
4.25% (1)		08/25/54	$	5,586,487	$	5,475,699
CFMT LLC Series 2024-NR1, Class A1
6.41% (1)		11/25/29		8,266,262		8,279,151
Chase Mortgage Finance Trust Series 2007-A1, Class 8A1
6.06% (2)		02/25/37		270,748		267,431
CHL Mortgage Pass-Through Trust Series 2005-3, Class 1A2
4.37% (1 mo. USD Term SOFR + 0.694%) (4)		04/25/35		1,747,105		1,689,894
CIM Trust Series 2020-R1, Class A1
2.85% (1),(2)		10/27/59		7,405,409		6,901,698
CIM Trust Series 2020-R6, Class A1A
2.25% (1),(2)		12/25/60		3,390,183		3,108,351
CIM Trust Series 2020-R7, Class A1A
2.25% (1),(2)		12/27/61		5,216,532		4,823,918
CIM Trust Series 2021-R3, Class A1B
1.95% (1),(2)		06/25/57		18,287,000		15,497,858
CIM Trust Series 2021-R4, Class A1A
2.00% (1),(2)		05/01/61		6,580,364		6,240,979
CIM Trust Series 2021-R4, Class A1B
2.00% (1),(2)		05/01/61		10,243,493		8,570,460
CIM Trust Series 2021-R5, Class A1A
2.00% (1),(2)		08/25/61		6,502,806		5,842,720
CIM Trust Series 2025-R1, Class A1
5.00% (1)		02/25/99		7,397,523		7,325,822
Citigroup Mortgage Loan Trust Series 2005-9, Class 1A1
4.05% (1 mo. USD Term SOFR + 0.374%) (4)		11/25/35		31,273		27,665
Citigroup Mortgage Loan Trust, Inc. Series 2006-HE3, Class A2C
4.11% (1 mo. USD Term SOFR + 0.434%) (4)		12/25/36		5,625,203		3,936,743
Citigroup Mortgage Loan Trust, Inc. Series 2006-HE3, Class A2D
4.25% (1 mo. USD Term SOFR + 0.574%) (4)		12/25/36		6,011,667		4,206,664
Countrywide Alternative Loan Trust Series 2005-74T1, Class A1
6.00%		01/25/36		4,733,256		2,625,303
Countrywide Alternative Loan Trust Series 2005-76, Class 1A1
5.34% (1 yr. MTA + 1.480%) (4)		01/25/36		1,753,625		1,696,809
Countrywide Alternative Loan Trust Series 2006-HY12, Class A5
4.10% (2)		08/25/36		1,422,926		1,345,794
Credit Suisse First Boston Mortgage Securities Corp. Series 2003-AR26, Class 3A1
6.48% (2)		11/25/33		149,028		146,530
Credit Suisse First Boston Mortgage Securities Corp. Series 98-1, Class A4
6.49%		09/25/28		4,402		4,394

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Credit-Based Asset Servicing & Securitization LLC Series 2006-CB2, Class AF3
2.92%		12/25/36	$	560,947	$	457,432
CSFB Mortgage-Backed Pass-Through Certificates Series 2004-AR5, Class 9A1
3.85% (2)		06/25/34		22,058		21,192
CSMC Mortgage-Backed Trust Series 2006-1, Class 1A4
5.50%		02/25/36		2,095,042		1,849,669
CSMC Mortgage-Backed Trust Series 2006-8, Class 3A1
6.00%		10/25/49		20,037		3,645
CSMC Trust Series 2022-RPL1, Class PT
4.55% (1),(2)		04/25/61		9,232,254		8,308,303
CSMCM Trust Series 2018-SP3, Class PT
4.29% (1),(2)		06/25/48		9,843,251		8,410,277
CSMCM Trust Series 2022-RPL1, Class CERT
4.23% (1)		04/25/61		390,193		321,935
DSLA Mortgage Loan Trust Series 2004-AR4, Class 2A1
4.51% (1 mo. USD Term SOFR + 0.834%) (4)		01/19/45		338,352		257,590
DSLA Mortgage Loan Trust Series 2005-AR6, Class 2A1A
4.37% (1 mo. USD Term SOFR + 0.694%) (4)		10/19/45		2,751,932		2,577,806
DSLA Mortgage Loan Trust Series 2006-AR2, Class 2A1A
3.99% (1 mo. USD Term SOFR + 0.314%) (4)		10/19/36		4,539,468		3,086,703
DSLA Mortgage Loan Trust Series 2007-AR1, Class 2A1A
3.93% (1 mo. USD Term SOFR + 0.254%) (4)		03/19/37		969,589		825,871
EFMT Series 2025-INV2, Class B1
7.50% (1),(2)		05/26/70		6,876,000		6,950,360
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA6, Class B2
11.16% (30 day USD SOFR Average + 7.500%) (1),(4)		10/25/41		6,310,000		6,491,155
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA7, Class B2
11.46% (30 day USD SOFR Average + 7.800%) (1),(4)		11/25/41		6,550,000		6,774,096
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3, Class B2
9.91% (30 day USD SOFR Average + 6.250%) (1),(4)		09/25/41		5,410,000		5,510,122

See accompanying Notes to Financial Statements.

146

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March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2019-HRP1, Class B1
13.03% (30 day USD SOFR Average + 9.364%) (1),(4)		11/25/39	$	3,717,330	$	3,888,050
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1B2
9.66% (30 day USD SOFR Average + 6.000%) (1),(4)		10/25/41		8,995,000		9,182,827
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R03, Class 1B2
9.16% (30 day USD SOFR Average + 5.500%) (1),(4)		12/25/41		6,119,000		6,268,262
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R01, Class 1B2
9.66% (30 day USD SOFR Average + 6.000%) (1),(4)		12/25/41		7,125,000		7,313,095
First Franklin Mortgage Loan Trust Series 2006-FF13, Class A2C
4.11% (1 mo. USD Term SOFR + 0.434%) (4)		10/25/36		12,207,488		8,026,273
First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2D
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		12/25/37		573,597		533,970
First Franklin Mortgage Loan Trust Series 2006-FF5, Class M1
4.20% (1 mo. USD Term SOFR + 0.519%) (4)		04/25/36		3,860,000		3,155,025
First Franklin Mortgage Loan Trust Series 2006-FF9, Class 2A4
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		06/25/36		10,218,000		9,610,243
First Franklin Mortgage Loan Trust Series 2007-FF1, Class A2D
4.23% (1 mo. USD Term SOFR + 0.554%) (4)		01/25/38		3,430,329		1,885,171
First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2B
3.99% (1 mo. USD Term SOFR + 0.314%) (4)		03/25/37		475,845		225,272
First Horizon Alternative Mortgage Securities Trust Series 2004-AA3, Class A1
4.78% (2)		09/25/34		61,058		61,372
First Horizon Alternative Mortgage Securities Trust Series 2004-AA3, Class A3
4.78% (2)		09/25/34		93,888		94,371

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
First Horizon Alternative Mortgage Securities Trust Series 2005-AA10, Class 1A1
5.06% (2)		12/25/35	$	533,915	$	441,329
First Horizon Alternative Mortgage Securities Trust Series 2005-AA12, Class 2A1
4.72% (2)		02/25/36		686,774		407,253
First Horizon Alternative Mortgage Securities Trust Series 2005-AA3, Class 3A1
5.57% (2)		05/25/35		501,984		475,759
First Horizon Alternative Mortgage Securities Trust Series 2005-AA7, Class 2A1
4.82% (2)		09/25/35		779,957		696,060
First Horizon Alternative Mortgage Securities Trust Series 2005-AA8, Class 2A1
4.70% (2)		10/25/35		1,223,721		657,907
First Horizon Alternative Mortgage Securities Trust Series 2005-AA9, Class 2A1
5.19% (2)		11/25/35		653,998		570,820
First Horizon Mortgage Pass-Through Trust Series 2005-AR4, Class 1A1
3.79% (2)		09/25/35		1,134,827		733,927
First Horizon Mortgage Pass-Through Trust Series 2005-AR5, Class 2A1
5.50% (2)		11/25/35		385,820		283,207
First Horizon Mortgage Pass-Through Trust Series 2007-AR2, Class 1A2
6.56% (2)		08/25/37		45,502		9,252
GCAT Trust Series 2025-NQM2, Class B1
7.18% (1),(2)		04/25/70		4,030,000		4,047,900
GMACM Mortgage Loan Trust Series 2005-AR5, Class 3A1
4.63% (2)		09/19/35		772,003		619,794
GMACM Mortgage Loan Trust Series 2006-AR1, Class 1A1
3.63% (2)		04/19/36		2,172,704		1,808,531
GreenPoint Manufactured Housing Series 2000-1, Class A4
8.14% (2)		03/20/30		3,202,446		1,666,063
GreenPoint Mortgage Funding Trust Series 2007-AR1, Class 2A1
4.19% (1 mo. USD Term SOFR + 0.514%) (4)		03/25/47		6,759,837		6,464,019
GSAMP Trust Series 2007-FM2, Class A1
3.93% (1 mo. USD Term SOFR + 0.254%) (4)		01/25/37		15,124,353		9,412,569
GSR Mortgage Loan Trust Series 2005-7F, Class 3A3 (I/O) (I/F)
1.71% (-1 mo. USD Term SOFR + 5.386%) (4)		09/25/35		7,771		415
GSR Mortgage Loan Trust Series 2005-AR4, Class 5A1
5.36% (2)		07/25/35		162,001		156,835
GSR Mortgage Loan Trust Series 2006-AR2, Class 2A1
4.06% (2)		04/25/36		131,993		77,613

See accompanying Notes to Financial Statements.

147

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
HarborView Mortgage Loan Trust Series 2005-10, Class 2A1
4.41% (1 mo. USD Term SOFR + 0.734%) (4)		11/19/35	$	707,462	$	447,102
HarborView Mortgage Loan Trust Series 2006-7, Class 1A
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		09/19/46		7,108,942		6,392,267
HarborView Mortgage Loan Trust Series 2007-6, Class 1A1
3.99% (1 mo. USD Term SOFR + 0.314%) (4)		08/19/37		7,668,085		6,704,214
HSI Asset Securitization Corp. Trust Series 2006-HE1, Class 1A1
4.07% (1 mo. USD Term SOFR + 0.394%) (4)		10/25/36		10,071,741		2,661,931
HSI Asset Securitization Corp. Trust Series 2006-HE2, Class 1A
4.05% (1 mo. USD Term SOFR + 0.374%) (4)		12/25/36		23,837,061		8,841,683
HSI Asset Securitization Corp. Trust Series 2006-WMC1, Class A1
3.89% (1 mo. USD Term SOFR + 0.214%) (4)		07/25/36		9,316,576		3,933,872
HSI Asset Securitization Corp. Trust Series 2006-WMC1, Class A2
3.99% (1 mo. USD Term SOFR + 0.314%) (4)		07/25/36		10,311,655		4,378,176
HSI Asset Securitization Corp. Trust Series 2006-WMC1, Class A4
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		07/25/36		9,017,059		3,877,140
Impac CMB Trust Series 2005-2, Class 1A1
4.31% (1 mo. USD Term SOFR + 0.634%) (4)		04/25/35		986,072		984,661
IndyMac INDX Mortgage Loan Trust Series 2005-AR14, Class 1A1
4.35% (1 mo. USD Term SOFR + 0.674%) (4)		07/25/35		6,919,216		4,998,874
IndyMac INDX Mortgage Loan Trust Series 2005-AR19, Class A1
3.61% (2)		10/25/35		1,453,658		1,161,786
IndyMac INDX Mortgage Loan Trust Series 2006-AR27, Class 1A3
4.33% (1 mo. USD Term SOFR + 0.654%) (4)		10/25/36		4,479,916		1,800,517
IndyMac INDX Mortgage Loan Trust Series 2006-AR4, Class A2A
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		05/25/46		7,787,396		7,754,595
IndyMac INDX Mortgage Loan Trust Series 2006-AR9, Class 3A3
3.42% (2)		06/25/36		2,261,995		1,967,346

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
IndyMac INDX Mortgage Loan Trust Series 2007-FLX4, Class 2A1
4.15% (1 mo. USD Term SOFR + 0.474%) (4)		07/25/37	$	9,378,687	$	8,798,312
JPMorgan Mortgage Acquisition Corp. Series 2006-WMC4, Class A1A
4.05% (1 mo. USD Term SOFR + 0.374%) (4)		12/25/36		6,161,578		3,916,855
JPMorgan Mortgage Acquisition Corp. Series 2006-WMC4, Class A4
4.09% (1 mo. USD Term SOFR + 0.414%) (4)		12/25/36		8,013,278		4,109,251
JPMorgan Mortgage Trust Series 2006-A3, Class 2A1
4.79% (2)		05/25/36		13,252		11,170
Knock Issuer Trust Series 2025-1, Class A1
7.12% (1)		02/25/30		2,835,000		2,860,776
Lehman XS Trust Series 2006-17, Class 1A3
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		08/25/46		9,732,642		8,968,063
Lehman XS Trust Series 2006-GP2, Class 1A5
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		06/25/46		2,520,914		2,474,929
Lehman XS Trust Series 2007-18N, Class 1A1
5.49% (1 mo. USD Term SOFR + 1.814%) (4)		10/25/37		1,835,757		1,815,181
Long Beach Mortgage Loan Trust Series 2006-2, Class 1A
4.15% (1 mo. USD Term SOFR + 0.474%) (4)		03/25/46		4,777,658		4,215,352
Long Beach Mortgage Loan Trust Series 2006-9, Class 2A2
4.01% (1 mo. USD Term SOFR + 0.334%) (4)		10/25/36		45,876,814		13,944,859
MASTR Adjustable Rate Mortgages Trust Series 2003-7, Class 3A1
5.98% (2)		11/25/33		52,270		52,310
MASTR Adjustable Rate Mortgages Trust Series 2004-15, Class 8A1
5.12% (2)		10/25/34		22,377		22,505
MASTR Adjustable Rate Mortgages Trust Series 2004-3, Class 3A3
5.20% (2)		04/25/34		17,070		16,776
MASTR Adjustable Rate Mortgages Trust Series 2006-OA2, Class 1A1
4.66% (1 yr. MTA + 0.800%) (4)		12/25/46		13,299,837		10,345,904

See accompanying Notes to Financial Statements.

148

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
MASTR Asset-Backed Securities Trust Series 2006-WMC1, Class A3
4.15% (1 mo. USD Term SOFR + 0.474%) (4)		02/25/36	$	14,747,977	$	4,756,192
MASTR Asset-Backed Securities Trust Series 2007-HE1, Class A4
4.35% (1 mo. USD Term SOFR + 0.674%) (4)		05/25/37		3,150,000		2,736,893
MASTR Asset-Backed Securities Trust Series 2007-WMC1, Class A2
3.89% (1 mo. USD Term SOFR + 0.214%) (4)		01/25/37		15,290,852		4,212,864
Merrill Lynch Alternative Note Asset Trust Series 2007-OAR2, Class A2
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		04/25/37		5,303,099		4,298,278
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A2C
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		04/25/37		14,925,908		5,464,781
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-4, Class 2A4
4.29% (1 mo. USD Term SOFR + 0.614%) (4)		07/25/37		320,184		327,412
Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-5, Class 1A
5.49% (1 mo. USD Term SOFR + 1.814%) (4)		10/25/37		19,487,094		11,928,540
Merrill Lynch Mortgage Investors Trust Series 2003-A6, Class 2A
6.73% (2)		10/25/33		48,769		48,277
Merrill Lynch Mortgage-Backed Securities Trust Series 2007-2, Class 1A1
5.92% (1 yr. CMT + 2.400%) (4)		08/25/36		435,782		375,720
Morgan Stanley ABS Capital I, Inc. Trust Series 2006-HE4, Class A3
4.09% (1 mo. USD Term SOFR + 0.414%) (4)		06/25/36		7,907,835		3,899,792
Morgan Stanley ABS Capital I, Inc. Trust Series 2006-HE4, Class A4
4.27% (1 mo. USD Term SOFR + 0.594%) (4)		06/25/36		8,435,874		4,180,367
Morgan Stanley ABS Capital I, Inc. Trust Series 2007-NC3, Class A2C
3.98% (1 mo. USD Term SOFR + 0.304%) (4)		05/25/37		17,344,056		13,232,138

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Morgan Stanley Capital I, Inc. Trust Series 2006-NC2, Class A2D
4.37% (1 mo. USD Term SOFR + 0.694%) (4)		02/25/36	$	110,703	$	110,553
Morgan Stanley Home Equity Loan Trust Series 2006-3, Class A4
4.31% (1 mo. USD Term SOFR + 0.634%) (4)		04/25/36		9,932,982		6,856,000
Morgan Stanley Mortgage Loan Trust Series 2004-7AR, Class 2A4
4.87% (2)		09/25/34		77,953		76,675
Morgan Stanley Mortgage Loan Trust Series 2006-2, Class 1A
5.25%		02/25/49		32,202		29,256
MortgageIT Trust Series 2005-2, Class 2A
5.43% (1 mo. USD Term SOFR + 1.764%) (4)		05/25/35		385,154		378,288
New York Mortgage Trust Series 2005-3, Class A1
4.27% (1 mo. USD Term SOFR + 0.594%) (4)		02/25/36		52,261		52,263
NLT Trust Series 2021-INV2, Class A3
1.52% (1),(2)		08/25/56		5,383,405		4,761,773
Nomura Asset Acceptance Corp. Alternative Loan Trust Series 2005-AR4, Class 4A1
4.26% (2)		08/25/35		664,321		628,612
Oakwood Mortgage Investors, Inc. Series 2000-A, Class A5
8.16% (2)		09/15/29		10,211,723		1,054,916
Option One Mortgage Loan Trust Series 2007-4, Class 2A2
3.97% (1 mo. USD Term SOFR + 0.294%) (4)		04/25/37		11,289,304		6,493,691
Option One Mortgage Loan Trust Series 2007-5, Class 2A2
3.96% (1 mo. USD Term SOFR + 0.284%) (4)		05/25/37		16,014,814		8,665,722
Ownit Mortgage Loan Trust Series 2006-2, Class A1
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		01/25/37		1,516,572		1,490,156
PHH Alternative Mortgage Trust Series 2007-2, Class 1A4
4.39% (1 mo. USD Term SOFR + 0.714%) (4)		05/25/37		4,058,518		3,692,090
Polaris PLC Series 2026-1A, Class F
7.56% (1 day GBP SONIA + 3.830%) (1),(4)		06/27/70	GBP	954,000		1,253,937

See accompanying Notes to Financial Statements.

149

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Popular ABS Mortgage Pass-Through Trust Series 2007-A, Class A3
4.10% (1 mo. USD Term SOFR + 0.424%) (4)		06/25/47	$	3,330,030	$	3,143,518
PRET LLC Series 2025-NPL9, Class A1
5.39% (1)		08/25/55		6,801,101		6,812,130
Pretium Mortgage Credit Partners LLC Series 2025-NPL4, Class A1
6.37% (1)		04/25/55		6,599,881		6,611,025
Pretium Mortgage Credit Partners LLC Series 2025-NPL6, Class A1
5.74% (1)		06/25/55		4,495,155		4,505,442
Pretium Mortgage Credit Partners LLC Series 2026-NPL1, Class A1
5.18% (1)		01/25/56		3,381,668		3,356,811
Pretium Mortgage Credit Partners LLC Series 2026-NPL4, Class A1
5.51% (1)		04/25/56		6,325,000		6,329,536
PRPM LLC Series 2024-RPL1, Class M1
4.21% (1),(2)		12/25/64		6,782,000		6,649,680
PRPM Trust Series 2023-NQM3, Class B2
7.36% (1),(2)		11/25/68		2,350,000		2,366,585
RAAC Trust Series 2005-SP1, Class 4A1
7.00%		09/25/34		17,432		9,292
RALI Trust Series 2005-QA13, Class 2A1
5.16% (2)		12/25/35		1,038,171		917,497
RALI Trust Series 2005-QA7, Class A21
5.27% (2)		07/25/35		286,528		271,113
RALI Trust Series 2005-QA8, Class CB21
5.10% (2)		07/25/35		439,930		219,057
RALI Trust Series 2006-QS13, Class 2A1
5.75%		11/25/61		1,343		602
RALI Trust Series 2006-QS16, Class A6
6.00%		11/25/36		260,839		208,873
RALI Trust Series 2007-QA3, Class A1
3.99% (1 mo. USD Term SOFR + 0.314%) (4)		05/25/37		11,511,049		10,896,481
RALI Trust Series 2007-QH6, Class A1
4.17% (1 mo. USD Term SOFR + 0.494%) (4)		07/25/37		5,469,868		5,241,858
RALI Trust Series 2007-QS1, Class 2AV (I/O)
0.17% (2)		01/25/37		1,116,432		7,420
RCKT Mortgage Trust Series 2025-CES8, Class B1A
6.04% (1),(2)		08/25/55		4,200,000		4,157,630
Residential Asset Securitization Trust Series 2006-A9CB, Class A9 (PAC)
6.00%		09/25/36		4,928,706		1,382,626

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
RFMSI Trust Series 2007-SA2, Class 1A
4.84% (2)		04/25/37	$	179,863	$	91,045
Saxon Asset Securities Trust Series 2007-2, Class A2C
4.03% (1 mo. USD Term SOFR + 0.354%) (4)		05/25/47		10,818,892		8,034,899
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF4
2.80%		01/25/36		3,102,031		2,661,054
Securitized Asset-Backed Receivables LLC Trust Series 2006-WM4, Class A1
4.17% (1 mo. USD Term SOFR + 0.494%) (1),(4)		11/25/36		7,712,866		3,468,253
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR2, Class A2
4.25% (1 mo. USD Term SOFR + 0.574%) (4)		02/25/37		5,234,244		2,344,147
Securitized Asset-Backed Receivables LLC Trust Series 2007-BR4, Class A2B
4.19% (1 mo. USD Term SOFR + 0.514%) (4)		05/25/37		8,185,161		5,032,999
Securitized Asset-Backed Receivables LLC Trust Series 2007-NC1, Class A2B
4.09% (1 mo. USD Term SOFR + 0.414%) (4)		12/25/36		4,915,712		2,438,300
Soundview Home Loan Trust Series 2007-OPT1, Class 2A3
4.00% (1 mo. USD Term SOFR + 0.324%) (4)		06/25/37		15,534,343		10,484,954
Soundview Home Loan Trust Series 2007-WMC1, Class 3A3
4.31% (1 mo. USD Term SOFR + 0.634%) (4)		02/25/37		908,256		241,126
Specialty Underwriting & Residential Finance Trust Series 2007-BC2, Class A1
4.25% (1 mo. USD Term SOFR + 0.574%) (4)		04/25/37		16,888,981		12,512,541
STARM Mortgage Loan Trust Series 2007-4, Class 3A1
4.51% (2)		10/25/37		544,472		487,073
Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 2A
4.62% (2)		09/25/34		140,579		137,875
Structured Adjustable Rate Mortgage Loan Trust Series 2004-2, Class 4A2
4.81% (2)		03/25/34		383,926		368,791
Structured Adjustable Rate Mortgage Loan Trust Series 2005-12, Class 3A1
4.74% (2)		06/25/35		118,677		99,916

See accompanying Notes to Financial Statements.

150

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
Structured Adjustable Rate Mortgage Loan Trust Series 2005-7, Class 1A3
4.42% (2)		04/25/35	$	1,301,155	$	1,180,573
Structured Asset Investment Loan Trust Series 2004-6, Class A3
4.59% (1 mo. USD Term SOFR + 0.914%) (4)		07/25/34		4,798,925		4,965,631
Structured Asset Mortgage Investments II Trust Series 2006-AR5, Class 1A1
4.21% (1 mo. USD Term SOFR + 0.534%) (4)		05/25/36		165,221		116,839
Structured Asset Mortgage Investments II Trust Series 2006-AR7, Class A1B
3.91% (1 mo. USD Term SOFR + 0.234%) (4)		08/25/36		4,907,530		4,379,416
Structured Asset Securities Corp. Mortgage Loan Trust Series 2005-4XS, Class 2A1
5.53% (1 mo. USD Term SOFR + 1.864%) (4)		03/25/35		550,163		548,090
Towd Point Mortgage Trust Series 2017-4, Class B1
3.63% (1),(2)		06/25/57		8,650,000		7,544,740
Towd Point Mortgage Trust Series 2019-1, Class B1
3.77% (1),(2)		03/25/58		7,087,000		5,685,209
VCAT LLC Series 2026-NPL1, Class A1
5.10% (1)		01/25/56		5,498,762		5,472,128
VCAT LLC Series 2026-NPL2, Class A1
5.06% (1)		02/25/56		6,549,829		6,525,245
Visio Trust Series 2023-2, Class B1
7.71% (1),(2)		10/25/58		6,088,000		6,115,521
WaMu Asset-Backed Certificates Trust Series 2007-HE1, Class 2A2
4.01% (1 mo. USD Term SOFR + 0.334%) (4)		01/25/37		4,636,630		2,095,184
WaMu Mortgage Pass-Through Certificates Trust Series 2004-AR13, Class A1A
4.51% (1 mo. USD Term SOFR + 0.834%) (4)		11/25/34		62,526		62,222
WaMu Mortgage Pass-Through Certificates Trust Series 2004-AR14, Class A1
4.92% (2)		01/25/35		223,954		219,229
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR14, Class 2A1
4.69% (2)		12/25/35		7,065		6,620
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR16, Class 1A3
4.43% (2)		12/25/35		539,763		499,938

Issues	Maturity Date		Principal Amount		Value
RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR2, Class 2A2
4.45% (1 mo. USD Term SOFR + 0.774%) (4)		01/25/45	$	176,004	$	177,082
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR3, Class A1A
4.86% (1 yr. MTA + 1.000%) (4)		02/25/46		2,607,147		2,427,061
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR4, Class 1A1
4.02% (1 yr. MTA + 0.940%) (4)		05/25/46		1,084,386		993,314
WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR7, Class 2A
4.84% (1 yr. MTA + 0.980%) (4)		07/25/46		1,989,654		1,921,999
WaMu Mortgage Pass-Through Certificates Trust Series 2007-HY3, Class 1A1
3.64% (2)		03/25/37		1,210,996		1,026,311
Washington Mutual Asset-Backed Certificates Trust Series 2007-HE2, Class 2A2
4.23% (1 mo. USD Term SOFR + 0.554%) (4)		02/25/37		26,851,211		8,433,028
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2007-OC1, Class A1
4.27% (1 mo. USD Term SOFR + 0.594%) (4)		01/25/47		3,645,291		3,351,896
Wells Fargo Alternative Loan Trust Series 2007-PA5, Class 1A1
6.25%		11/25/37		961,625		825,693
Wells Fargo Home Equity Asset-Backed Securities Trust Series 2007-1, Class A3
4.43% (1 mo. USD Term SOFR + 0.754%) (4)		03/25/37		4,690,000		4,381,209
Wells Fargo Mortgage-Backed Securities Trust Series 2006-AR14, Class 2A1
6.49% (2)		10/25/36		172,202		159,488
Wells Fargo Mortgage-Backed Securities Trust Series 2006-AR4, Class 1A1
5.79% (2)		04/25/36		44,346		43,916
Total Residential Mortgage-Backed Securities — Non-Agency
(Cost: $898,101,621)						709,026,105
CORPORATE BONDS — 20.5%
Aerospace/Defense — 0.3%
General Electric Co.
4.39% (3 mo. USD Term SOFR + 0.742%) (4)		08/15/36		7,370,000		6,937,086

See accompanying Notes to Financial Statements.

151

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Agriculture — 0.3%
Altria Group, Inc.
4.88%		02/04/28	$	2,195,000	$	2,214,865
Imperial Brands Finance PLC (United Kingdom)
4.50% (1)		06/30/28		6,815,000		6,821,133
						9,035,998
Airlines — 0.1%
American Airlines Pass-Through Trust Series 2015-2, Class AA
3.60%		03/22/29		1,492,340		1,467,239
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.75% (1)		04/20/29		1,065,000		1,057,609
JetBlue Airways Corp./JetBlue Loyalty LP
9.88% (1)		09/20/31		160,000		151,371
						2,676,219
Auto Manufacturers — 0.1%
Volkswagen Group of America Finance LLC (Germany)
5.65% (1)		03/25/32		275,000		279,422
Volkswagen International Finance NV (Germany)
7.88% (9 yr. EUR Swap + 4.783%) (4),(8),(11)		09/06/32	EUR	2,100,000		2,679,414
						2,958,836
Auto Parts & Equipment — 0.0%
Robert Bosch GmbH
4.38% (8)		06/02/43	EUR	700,000		773,931
Banks — 2.2%
Bank of America Corp.
1.92% (1 day USD SOFR + 1.370%) (4)		10/24/31		1,905,000		1,688,821
2.65% (1 day USD SOFR + 1.220%) (4)		03/11/32		130,000		117,931
4.38% (5 yr. CMT + 2.760%) (4),(11)		01/27/27		2,340,000		2,305,532
4.58% (3 mo. USD Term SOFR + 0.912%) (4)		12/01/26		4,400,000		4,413,904
Citibank NA
4.91%		05/29/30		1,565,000		1,590,322
Goldman Sachs Group, Inc.
1.95% (1 day USD SOFR + 0.913%) (4)		10/21/27		4,295,000		4,236,244
HSBC Holdings PLC (United Kingdom)
4.76% (1 day USD SOFR + 2.110%) (4)		06/09/28		960,000		962,054

Issues	Maturity Date		Principal Amount		Value
Banks (Continued)
JPMorgan Chase & Co.
1.58% (1 day USD SOFR + 0.885%) (4)		04/22/27	$	10,250,000	$	10,233,395
1.76% (3 mo. USD Term SOFR + 1.105%) (4)		11/19/31		2,842,000		2,494,708
2.07% (1 day USD SOFR + 1.015%) (4)		06/01/29		4,005,000		3,810,837
2.55% (1 day USD SOFR + 1.180%) (4)		11/08/32		2,625,000		2,337,562
Morgan Stanley
1.79% (1 day USD SOFR + 1.034%) (4)		02/13/32		75,000		65,050
Morgan Stanley Private Bank NA
4.20% (1 day USD SOFR + 0.780%) (4)		11/17/28		2,160,000		2,152,958
4.47% (1 day USD SOFR + 1.020%) (4)		11/19/31		5,550,000		5,468,748
4.73% (1 day USD SOFR + 1.080%) (4)		07/18/31		5,230,000		5,216,820
PNC Financial Services Group, Inc.
3.40% (5 yr. CMT + 2.595%) (4),(11)		09/15/26		1,980,000		1,950,716
Santander U.K. Group Holdings PLC (United Kingdom)
1.67% (1 day USD SOFR + 0.989%) (4)		06/14/27		1,630,000		1,619,878
U.S. Bancorp
5.08% (1 day USD SOFR + 1.296%) (4)		05/15/31		2,617,000		2,654,816
Wells Fargo & Co.
2.57% (3 mo. USD Term SOFR + 1.262%) (4)		02/11/31		2,505,000		2,319,229
5.50% (1 day USD SOFR + 1.780%) (4)		01/23/35		70,000		71,306
5.57% (1 day USD SOFR + 1.740%) (4)		07/25/29		3,864,000		3,952,447
						59,663,278
Beverages — 0.2%
Becle SAB de CV (Mexico)
2.50% (1)		10/14/31		4,450,000		3,813,205

See accompanying Notes to Financial Statements.

152

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Beverages (Continued)
Maple Parent Holdings Corp.
4.73% (1)		03/26/35	EUR	1,555,000	$	1,791,169
						5,604,374
Building Materials — 0.1%
JH North America Holdings, Inc.
5.88% (1)		01/31/31		130,000		129,748
6.13% (1)		07/31/32		1,400,000		1,398,866
						1,528,614
Chemicals — 0.4%
FIS Fabbrica Italiana Sintetici SpA
5.25% (1)		02/05/31	EUR	1,200,000		1,339,308
International Flavors & Fragrances, Inc.
2.30% (1)		11/01/30		7,835,000		6,976,597
Itelyum Regeneration SpA (Italy)
5.75% (8)		04/15/30	EUR	1,080,000		1,232,156
						9,548,061
Commercial Services — 0.6%
AA Bond Co. Ltd. (United Kingdom)
5.50% (8)		07/31/50	GBP	985,000		1,260,614
BCP V Modular Services Finance II PLC
4.75% (8)		11/30/28	EUR	705,000		765,585
Global Payments, Inc.
4.50%		11/15/28		4,170,000		4,132,220
RAC Bond Co. PLC (United Kingdom)
8.25% (8)		05/06/46	GBP	500,000		697,862
Raven Acquisition Holdings LLC
6.88% (1)		11/15/31		800,000		776,264
Rentokil Terminix Funding LLC
5.00% (1)		04/28/30		2,600,000		2,611,570
Rollins, Inc.
5.25%		02/24/35		2,370,000		2,366,777
VT Topco, Inc.
8.50% (1)		08/15/30		2,539,000		2,584,473
						15,195,365
Computers — 0.3%
Dell International LLC/EMC Corp.
4.75%		04/01/28		4,110,000		4,139,510
5.00%		04/01/30		760,000		769,811
Gartner, Inc.
3.75% (1)		10/01/30		4,230,000		3,867,447
						8,776,768
Diversified Financial Services — 0.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)
3.00%		10/29/28		10,100,000		9,727,815
American Express Co.
3.55% (5 yr. CMT + 2.854%) (4),(11)		09/15/26		2,350,000		2,323,586

Issues	Maturity Date		Principal Amount		Value
Diversified Financial Services (Continued)
Avolon Holdings Funding Ltd. (Ireland)
2.53% (1)		11/18/27	$	2,317,000	$	2,240,585
Lseg U.S. Fin Corp. (United Kingdom)
5.25% (1)		03/23/36		1,350,000		1,337,621
						15,629,607
Electric — 2.3%
Alliant Energy Corp.
5.75% (5 yr. CMT + 2.077%) (4)		04/01/56		5,470,000		5,318,864
Alliant Energy Finance LLC
3.60% (1)		03/01/32		8,130,000		7,520,656
Alpha Generation LLC
6.25% (1)		01/15/34		294,000		290,334
American Electric Power Co., Inc.
5.80% (5 yr. CMT + 2.128%) (4)		03/15/56		8,235,000		8,133,874
Amprion GmbH (Germany)
4.58% (8)		01/15/46	EUR	1,100,000		1,242,198
Ausgrid Finance Pty. Ltd. (Australia)
5.95% (8)		12/10/35	AUD	1,240,000		830,779
CenterPoint Energy, Inc.
5.95% (5 yr. CMT + 2.223%) (4)		04/01/56		2,000,000		1,978,800
Comision Federal de Electricidad (Mexico)
3.35% (8)		02/09/31		650,000		581,782
Dominion Energy, Inc.
6.00% (5 yr. CMT + 2.262%) (4)		02/15/56		7,030,000		6,985,219
Electricite de France SA
4.75% (8)		06/17/44	EUR	3,400,000		3,880,263
5.64% (8)		08/28/35	AUD	830,000		543,750
7.38% (5 yr. U.K. Government Bond + 3.775%) (4),(8),(11)		06/17/35	GBP	300,000		398,565
9.13% (5 yr. CMT + 5.411%) (1),(4),(11)		12/31/99		760,000		879,913
Elia Group SA (Belgium)
3.88% (8)		06/11/31	EUR	600,000		690,870
Enel SpA (Italy)
4.50% (5 yr. EURIBOR ICE Swap + 1.821%) (4),(8),(11)		10/14/34	EUR	1,390,000		1,517,444
Entergy Corp.
5.88% (5 yr. CMT + 2.179%) (4)		06/15/56		4,200,000		4,146,282

See accompanying Notes to Financial Statements.

153

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
FirstEnergy Transmission LLC
2.87% (1)		09/15/28	$	3,153,000	$	3,034,952
MVM Energetika Zrt (Hungary)
6.50% (8)		03/13/31		853,000		880,612
Southern Co.
3.75% (5 yr. CMT + 2.915%) (4)		09/15/51		1,000,000		991,600
6.00% (5 yr. CMT + 1.993%) (4)		04/01/58		4,000,000		4,022,360
Southwestern Electric Power Co.
4.10%		09/15/28		2,190,000		2,178,634
Trans-Allegheny Interstate Line Co.
5.00% (1)		01/15/31		3,615,000		3,676,636
Vistra Operations Co. LLC
6.88% (1)		04/15/32		540,000		559,181
						60,283,568
Electrical Components & Equipment — 0.1%
Energizer Holdings, Inc.
6.00% (1)		09/15/33		1,900,000		1,782,713
Electronics — 0.1%
Amphenol Corp.
4.63%		02/15/36		2,755,000		2,665,132
Engineering & Construction — 0.1%
Heathrow Funding Ltd. (United Kingdom)
3.88% (8)		01/16/38	EUR	885,000		988,260
Sydney Airport Finance Co. Pty. Ltd.
5.90% (8)		04/19/34	AUD	790,000		534,746
						1,523,006
Entertainment — 0.3%
Discovery Global Holdings, Inc.
5.05%		03/15/42		59,000		39,458
5.14%		03/15/52		782,000		474,830
FDJ UNITED (France)
3.38% (8)		11/21/33	EUR	2,300,000		2,549,304
Flutter Treasury DAC (Ireland)
5.00% (1)		04/29/29	EUR	500,000		582,673
Great Canadian Gaming Corp./Raptor LLC (Canada)
8.75% (1)		11/15/29		710,000		692,953
Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada)
8.00% (1)		08/01/30		1,535,000		1,473,048
Rivers Enterprise Borrower LLC
6.25% (1)		10/15/30		1,370,000		1,369,069
Voyager Parent LLC
9.25% (1)		07/01/32		1,091,000		1,138,022
						8,319,357

Issues	Maturity Date		Principal Amount		Value
Environmental Control — 0.2%
GFL Environmental, Inc.
4.00% (1)		08/01/28	$	625,000	$	608,600
Luna 1.5 Sarl
10.50% (8)		07/01/32	EUR	1,000,000		1,224,938
Luna 2 5 Sarl (Luxemburg)
5.50% (1)		07/01/32	EUR	1,335,000		1,519,006
5.50% (8)		07/01/32	EUR	800,000		910,266
Seche Environnement SACA
5.87% (5 yr. EURIBOR ICE Swap + 3.707%) (4),(8),(11)		01/09/31	EUR	1,100,000		1,237,597
Seche Environnement SACA (France)
4.50% (8)		03/25/30	EUR	470,000		536,346
						6,036,753
Financial — 0.1%
Nomura Corporate Funding Americas LLC
1.00% (6)		10/27/26		3,651,371		3,644,799
Food — 0.6%
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings
3.00%		05/15/32		2,940,000		2,612,660
3.75%		12/01/31		781,000		732,211
6.75%		03/15/34		2,419,000		2,658,191
Pilgrim’s Pride Corp.
3.50%		03/01/32		382,000		347,032
4.25%		04/15/31		1,035,000		991,509
6.25%		07/01/33		3,200,000		3,345,024
Smithfield Foods, Inc.
2.63% (1)		09/13/31		4,690,000		4,125,699
						14,812,326
Gas — 0.2%
National Gas Transmission PLC (United Kingdom)
4.25% (8)		04/05/30	EUR	2,075,000		2,444,249
Nortegas Energia Grupo SL (Spain)
4.13% (8)		01/21/33	EUR	900,000		1,005,476
Northwest Natural Holding Co.
7.00% (5 yr. CMT + 2.701%) (4)		09/15/55		869,000		878,385
Redexis SA
4.38% (8)		05/30/31	EUR	1,100,000		1,273,656
						5,601,766
Health Care-Products — 0.5%
Medline Borrower LP
3.88% (1)		04/01/29		9,625,000		9,319,599
Molnlycke Holding AB (Sweden)
4.25% (8)		06/11/34	EUR	970,000		1,124,384

See accompanying Notes to Financial Statements.

154

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Health Care-Products (Continued)
Sartorius Finance BV (Germany)
4.50% (8)		09/14/32	EUR	200,000	$	236,077
4.88% (8)		09/14/35	EUR	2,000,000		2,385,468
						13,065,528
Health Care-Services — 0.9%
Cigna Group
5.25%		01/15/36		7,000,000		7,019,740
Elevance Health, Inc.
2.55%		03/15/31		6,145,000		5,546,354
5.00%		01/15/36		500,000		490,090
Humana, Inc.
5.55%		05/01/35		1,195,000		1,182,918
Kedrion SpA (Italy)
6.50% (1)		09/01/29		1,135,000		1,095,377
Mehilainen Yhtiot OYJ (Finland)
5.13% (1)		06/30/32	EUR	660,000		758,011
ModivCare, Inc.
1.00% (1),(5),(7)		10/01/29		5,514,600		82,719
Molina Healthcare, Inc.
6.25% (1)		01/15/33		735,000		713,134
6.50% (1)		02/15/31		919,000		906,759
Star Parent, Inc.
9.00% (1)		10/01/30		1,717,000		1,787,294
UnitedHealth Group, Inc.
5.63%		07/15/54		2,780,000		2,649,535
Universal Health Services, Inc.
1.65%		09/01/26		1,500,000		1,482,495
2.65%		01/15/32		590,000		514,026
						24,228,452
Household Products/Wares — 0.1%
Spectrum Brands, Inc.
3.88% (1)		03/15/31		2,132,000		1,850,043
Housewares — 0.0%
Newell Brands, Inc.
7.38%		04/01/36		825,000		762,300
Insurance — 0.3%
Acrisure LLC/Acrisure Finance, Inc.
7.50% (1)		11/06/30		1,300,000		1,303,354
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.50% (1)		10/01/31		531,000		524,288
7.00% (1)		01/15/31		319,000		321,903
7.38% (1)		10/01/32		213,000		209,473
Ardonagh Finco Ltd.
7.75% (1)		02/15/31		785,000		793,549
Farmers Exchange Capital
7.20% (1)		07/15/48		150,000		152,272

Issues	Maturity Date		Principal Amount		Value
Insurance (Continued)
Farmers Exchange Capital II
6.15% (3 mo. USD Term SOFR + 4.006%) (1),(4)		11/01/53	$	2,500,000	$	2,437,950
Farmers Insurance Exchange
4.75% (3 mo. USD LIBOR + 3.231%) (1),(4)		11/01/57		3,800,000		3,188,200
						8,930,989
Internet — 1.3%
Alphabet, Inc.
3.50%		11/06/38	EUR	1,770,000		1,935,568
4.00%		11/06/44	EUR	1,700,000		1,865,621
4.80%		02/15/36		1,885,000		1,877,158
Amazon.com, Inc.
4.85%		03/16/64	EUR	3,250,000		3,723,380
5.80%		03/13/56		4,675,000		4,665,697
Booking Holdings, Inc.
3.88%		03/21/45	EUR	470,000		479,117
4.00%		03/01/44	EUR	505,000		521,993
Cerved Group SpA (Italy)
7.40% (3 mo. EUR EURIBOR + 5.250%) (4),(8)		02/15/29	EUR	755,000		764,373
Getty Images, Inc.
10.50% (1)		11/15/30		1,405,000		1,270,359
ION Platform Finance U.S., Inc./ION Platform Finance SARL
8.75% (1)		05/01/29		2,202,000		2,048,785
Meta Platforms, Inc.
4.88%		11/15/35		12,600,000		12,365,892
5.63%		11/15/55		1,300,000		1,219,348
Snap, Inc.
6.88% (1)		03/01/33		1,000,000		947,620
6.88% (1)		03/15/34		1,500,000		1,411,590
						35,096,501
Investment Companies — 0.2%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
9.00%		06/15/30		1,493,000		1,403,435
9.75%		01/15/29		2,575,000		2,536,169
						3,939,604
Iron & Steel — 0.2%
CSN Inova Ventures (Brazil)
6.75% (8)		01/28/28		200,000		146,984
6.75% (1)		01/28/28		2,867,000		2,107,016

See accompanying Notes to Financial Statements.

155

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Iron & Steel (Continued)
CSN Resources SA (Brazil)
5.88% (1)		04/08/32	$	4,937,000	$	3,040,155
8.88% (8)		12/05/30		400,000		281,572
						5,575,727
Leisure Time — 0.0%
Sabre GLBL, Inc.
10.75% (1)		11/15/29		156,000		133,647
10.75% (1)		03/15/30		199,000		166,388
						300,035
Lodging — 0.3%
Hyatt Hotels Corp.
5.05%		03/30/28		3,700,000		3,739,072
Las Vegas Sands Corp.
5.63%		06/15/28		5,460,000		5,535,075
						9,274,147
Machinery-Construction & Mining — 0.1%
Eaton Capital ULC
3.55%		03/10/34	EUR	1,325,000		1,498,528
4.00%		03/10/38	EUR	535,000		610,688
						2,109,216
Machinery-Diversified — 0.0%
Oregon Tool Lux LP
7.88% (1)		10/15/29		2,242,299		394,062
Media — 0.8%
Belo Corp.
7.25%		09/15/27		520,000		535,683
CCO Holdings LLC/CCO Holdings Capital Corp.
7.00% (1)		02/01/33		653,000		656,252
Charter Communications Operating LLC/Charter Communications Operating Capital
3.50%		03/01/42		1,500,000		1,027,830
4.80%		03/01/50		570,000		423,732
6.55%		06/01/34		2,347,000		2,438,228
6.65%		02/01/34		800,000		835,200
CSC Holdings LLC
4.63% (1)		12/01/30		500,000		177,935
5.75% (1)		01/15/30		376,000		142,387
6.50% (1)		02/01/29		3,183,000		2,034,478
11.75% (1)		01/31/29		2,794,000		2,024,924
DISH DBS Corp.
7.75%		07/01/26		805,000		803,615
DISH Network Corp.
11.75% (1)		11/15/27		1,654,000		1,705,043
Midcontinent Communications
8.00% (1)		08/15/32		925,000		865,550
Sinclair Television Group, Inc.
8.13% (1)		02/15/33		1,250,000		1,275,000

Issues	Maturity Date		Principal Amount		Value
Media (Continued)
Sirius XM Radio LLC
5.88% (1)		04/15/32	$	1,350,000	$	1,342,859
Time Warner Cable LLC
4.50%		09/15/42		775,000		582,901
5.50%		09/01/41		820,000		706,209
Virgin Media O2 Vendor Financing Notes VI DAC
8.50% (1)		03/15/33		1,617,000		1,410,978
VZ Secured Financing BV (Netherlands)
5.00% (1)		01/15/32		1,630,000		1,402,354
						20,391,158
Mining — 0.1%
Corp. Nacional del Cobre de Chile
5.13% (8)		02/02/33		2,195,000		2,173,555
Miscellaneous Manufacturers — 0.2%
Dyno Nobel Ltd. (Australia)
5.40%		11/08/32	AUD	2,010,000		1,322,629
Smiths Group PLC (United Kingdom)
3.63% (8)		11/13/33	EUR	2,375,000		2,640,206
						3,962,835
Oil & Gas — 0.4%
Ecopetrol SA (Colombia)
8.38%		01/19/36		2,437,000		2,475,456
8.88%		01/13/33		718,000		756,198
KazMunayGas National Co. JSC (Kazakhstan)
3.50% (8)		04/14/33		1,186,000		1,060,604
5.38% (8)		04/24/30		1,979,000		1,997,721
Petroleos Mexicanos
6.75%		09/21/47		658,000		524,505
Sunoco LP
7.88% (5 yr. CMT + 4.230%)(1),(4),(11)		09/18/30		3,790,000		3,867,392
						10,681,876
Oil & Gas Services — 0.0%
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.
4.74%		03/11/46	EUR	1,105,000		1,261,849
Packaging & Containers — 0.3%
Amcor Flexibles North America, Inc.
4.80%		03/17/28		2,080,000		2,093,749
Amcor Group Finance PLC
5.45%		05/23/29		2,525,000		2,588,201
Amcor U.K. Finance PLC (Australia)
3.75%		02/20/33	EUR	1,475,000		1,642,527
Ardagh Group SA
9.50% (1)		12/01/30		250,000		261,500
Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26
12.00% (1)		12/01/30		867,000		729,390

See accompanying Notes to Financial Statements.

156

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Packaging & Containers (Continued)
Berry Global, Inc.
1.65%		01/15/27	$	105,000	$	102,837
4.88% (1)		07/15/26		556,000		556,161
						7,974,365
Pharmaceuticals — 0.6%
1261229 BC Ltd.
10.00% (1)		04/15/32		2,510,000		2,558,820
AbbVie, Inc.
4.75%		03/15/36		2,735,000		2,679,781
Bayer U.S. Finance II LLC (Germany)
4.38% (1)		12/15/28		3,059,000		3,031,163
4.40% (1)		07/15/44		1,493,000		1,176,245
4.63% (1)		06/25/38		2,775,000		2,478,852
CVS Health Corp.
4.78%		03/25/38		525,000		483,971
6.75% (5 yr. CMT + 2.516%)(4)		12/10/54		2,300,000		2,323,069
Dolcetto Holdco SpA
5.63% (8)		07/14/32	EUR	655,000		752,155
Grifols SA (Spain)
7.50% (8)		05/01/30	EUR	300,000		358,017
						15,842,073
Pipelines — 0.4%
Energy Transfer LP
6.63% (3 mo. USD Term SOFR + 4.417%)(4),(11)		02/15/28		2,751,000		2,743,490
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)
2.16% (1)		03/31/34		890,825		790,313
ITT Holdings LLC
6.50% (1)		08/01/29		1,075,000		1,048,641
NGL Energy Operating LLC/NGL Energy Finance Corp.
8.38% (1)		02/15/32		1,240,000		1,282,061
QazaqGaz NC JSC (Kazakhstan)
4.38% (8)		09/26/27		650,000		645,398
Venture Global LNG, Inc.
9.00% (5 yr. CMT + 5.440%)(1),(4),(11)		09/30/29		2,580,000		2,570,686
Venture Global Plaquemines LNG LLC
6.75% (1)		01/15/36		2,511,000		2,659,877
						11,740,466
Real Estate — 0.3%
Blackstone Property Partners Europe Holdings SARL (Luxembourg)
1.00% (8)		05/04/28	EUR	1,120,000		1,218,108

Issues	Maturity Date		Principal Amount		Value
Real Estate (Continued)
CBRE Open-Ended Funds SCA SICAV-SIF (Luxemburg)
4.75% (8)		03/27/34	EUR	1,155,000	$	1,358,977
China SCE Group Holdings Ltd.
7.00% (5),(8)		05/02/25		1,070,000		34,700
DVI Deutsche Vermoegens- & Immobilienverwaltungs GmbH
4.88% (8)		08/21/30	EUR	1,100,000		1,262,768
Finco Opal Sarl (Luxemburg)
9.76% (3 mo. EUR EURIBOR + 7.750%)(1),(4),(8)		03/02/30	EUR	1,300,000		1,482,267
LEG Immobilien SE (Germany)
0.88% (8)		03/30/33	EUR	400,000		364,874
1.50% (8)		01/17/34	EUR	100,000		92,880
Times China Holdings Ltd. (China)
4.00% (1)		03/30/29		89,840		2,892
4.20% (1)		09/30/32		335,135		9,756
Vonovia SE (Germany)
5.72% (8)		09/03/35	AUD	2,010,000		1,301,457
Zhenro Properties Group Ltd. (China)
6.63% (5),(8)		01/07/26		1,810,000		7,493
						7,136,172
REIT — 1.9%
American Assets Trust LP
3.38%		02/01/31		2,935,000		2,648,133
American Tower Corp.
2.70%		04/15/31		30,000		27,249
2.90%		01/15/30		5,440,000		5,112,294
4.70%		12/15/32		4,925,000		4,842,457
Americold Realty Operating Partnership LP
5.60%		05/15/32		4,070,000		4,019,328
Digital Dutch Finco BV
1.00% (8)		01/15/32	EUR	1,770,000		1,708,624
3.88% (8)		03/15/35	EUR	1,035,000		1,136,657
Equinix Asia Financing Corp. Pte. Ltd. (REIT)
4.40%		03/15/31		2,300,000		2,254,069
Equinix Europe 2 Financing Corp. LLC (REIT)
3.63%		11/22/34	EUR	4,195,000		4,580,059
GLP Capital LP/GLP Financing II, Inc.
5.75%		06/01/28		6,241,000		6,344,164
Healthcare Realty Holdings LP
3.50%		08/01/26		2,257,000		2,249,462
3.63%		01/15/28		625,000		612,488
Host Hotels & Resorts LP (REIT)
5.70%		06/15/32		1,175,000		1,205,503
Hudson Pacific Properties LP
3.95%		11/01/27		4,202,000		3,981,605
5.95%		02/15/28		805,000		764,670

See accompanying Notes to Financial Statements.

157

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
LXP Industrial Trust
2.70%		09/15/30	$	2,000,000	$	1,825,500
Phillips Edison Grocery Center Operating Partnership I LP (REIT)
4.75%		03/15/33		2,730,000		2,663,470
Realty Income Corp. (REIT)
4.88%		07/06/30	EUR	710,000		852,044
VICI Properties LP/VICI Notes Co., Inc.
3.88% (1)		02/15/29		865,000		841,135
4.13% (1)		08/15/30		113,000		108,340
WP Carey, Inc.
3.75%		05/10/35	EUR	1,210,000		1,305,911
4.25%		07/23/32	EUR	950,000		1,098,060
						50,181,222
Retail — 0.4%
BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc.
9.50% (1)		07/01/32		2,075,000		1,873,642
Ferrellgas LP/Ferrellgas Finance Corp.
9.25% (1)		01/15/31		2,519,000		2,629,735
Michaels Cos., Inc.
8.50% (1)		03/15/33		1,015,000		989,696
11.00% (1)		03/15/34		270,000		252,277
Papa John’s International, Inc.
3.88% (1)		09/15/29		1,565,000		1,494,215
Punch Finance PLC
7.88% (8)		12/30/30	GBP	955,000		1,257,091
Staples, Inc.
10.75% (1)		09/01/29		600,000		557,592
Stonegate Pub Co. Financing PLC (United Kingdom)
8.62% (3 mo. EUR EURIBOR + 6.625%)(4),(8)		07/31/29	EUR	700,000		790,772
Suburban Propane Partners LP/Suburban Energy Finance Corp.
6.50% (1)		12/15/35		1,250,000		1,217,913
						11,062,933
Semiconductors — 0.1%
Foundry JV Holdco LLC
5.50% (1)		01/25/31		825,000		843,521
Intel Corp.
2.00%		08/12/31		2,300,000		1,992,927
3.05%		08/12/51		826,000		500,515
						3,336,963
Software — 0.9%
Cloud Software Group, Inc.
8.25% (1)		06/30/32		2,491,000		2,369,016
Fiserv, Inc.
4.55%		02/15/31		1,385,000		1,356,968
5.25%		08/11/35		2,310,000		2,246,937

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
5.45%		03/15/34	$	2,360,000	$	2,348,696
5.63%		08/21/33		820,000		829,061
Open Text Corp.
3.88% (1)		12/01/29		1,120,000		1,003,632
Open Text Corp. (Canada)
6.90% (1)		12/01/27		5,545,000		5,699,927
Paychex, Inc.
5.35%		04/15/32		1,290,000		1,297,224
Salesforce, Inc.
4.65%		03/15/29		1,440,000		1,442,923
5.55%		03/15/36		2,670,000		2,662,604
TeamSystem SpA (Italy)
5.00% (8)		07/01/31	EUR	915,000		975,246
UKG, Inc.
6.88% (1)		02/01/31		1,365,000		1,339,201
						23,571,435
Telecommunications — 0.6%
Altice Financing SA (Luxembourg)
9.63% (1)		07/15/27		3,168,000		2,343,940
Altice France SA
6.50% (1)		04/15/32		781,261		739,354
9.50% (1)		11/01/29		582,684		590,102
EchoStar Corp.
10.75%		11/30/29		891,000		963,207
Global Switch Finance BV (United Kingdom)
1.38% (8)		10/07/30	EUR	4,505,000		4,793,419
T-Mobile USA, Inc.
5.00%		02/15/36		6,470,000		6,370,491
Vmed O2 U.K. Financing I PLC (United Kingdom)
4.75% (1)		07/15/31		431,000		371,225
Zayo Group Holdings, Inc. (5.75% Cash or 0.50% PIK) due 3/29/27
9.25% (1)		03/09/30		939,230		933,904
						17,105,642
Transportation — 0.1%
Aurizon Network Pty. Ltd. (Australia)
2.90% (8)		09/02/30	AUD	3,160,000		1,906,107
Pacific National Finance Pty. Ltd. (Australia)
3.70%		09/24/29	AUD	3,080,000		1,922,570
						3,828,677
Water — 0.3%
DWR Cymru Financing U.K. PLC
2.38% (8)		03/31/34	GBP	2,150,000		2,113,417
Severn Trent Utilities Finance PLC
3.88% (8)		08/04/37	EUR	1,915,000		2,124,206
United Utilities Water Finance PLC (United Kingdom)
3.75% (8)		05/23/34	EUR	1,270,000		1,434,906

See accompanying Notes to Financial Statements.

158

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Water (Continued)
Yorkshire Water Finance PLC (United Kingdom)
2.75% (8)		04/18/41	GBP	200,000	$	163,598
6.38% (8)		11/18/34	GBP	2,395,000		3,187,246
						9,023,373
Total Corporate Bonds
(Cost: $563,618,558)						547,798,755
FOREIGN GOVERNMENT BONDS — 3.9%
Abu Dhabi Government International Bonds
5.50% (1)		04/30/54		3,219,000		3,078,845
Brazil Government International Bonds
6.00%		10/20/33		830,000		831,726
6.13%		03/15/34		910,000		909,500
6.63%		03/15/35		5,435,000		5,557,179
Colombia Government International Bonds
7.75%		11/07/36		340,000		348,102
Guatemala Government Bonds
6.25% (8)		08/15/36		6,910,000		7,054,557
6.60% (8)		06/13/36		900,000		945,027
Hungary Government International Bonds
2.13% (1)		09/22/31		1,146,000		972,060
Kuwait International Government Bonds
4.65% (1)		10/09/35		7,863,000		7,541,403
4.65% (8)		10/09/35		2,137,000		2,049,597
Mexico Government International Bonds
4.88%		05/19/33		1,833,000		1,737,794
5.63%		09/22/35		5,598,000		5,414,386
6.35%		02/09/35		3,151,000		3,223,095
New South Wales Treasury Corp.
5.25% (8)		02/24/38	AUD	10,555,000		6,914,870
5.25%		02/22/39	AUD	1,500,000		973,527
Oman Government International Bonds
6.25% (1)		01/25/31		1,189,000		1,242,018
Qatar Government International Bonds
4.82% (1)		03/14/49		678,000		597,949
5.10% (1)		04/23/48		610,000		561,737
Queensland Treasury Corp.
5.25% (8)		08/13/38	AUD	5,080,000		3,305,537
Republic of South Africa Government International Bonds
4.30%		10/12/28		827,000		809,286
4.85%		09/30/29		883,000		865,737
5.88%		06/22/30		675,000		679,617
5.88%		04/20/32		864,000		860,734
Romania Government International Bonds
5.75% (8)		03/24/35		4,856,000		4,587,463
6.63% (8)		05/16/36		7,022,000		6,970,950
Saudi Government International Bonds
4.88% (1)		01/12/36		809,000		786,316

Issues	Maturity Date		Principal Amount		Value
FOREIGN GOVERNMENT BONDS (Continued)
Treasury Corp. of Victoria
2.00%		11/20/37	AUD	3,630,000	$	1,684,839
5.50%		09/15/39	AUD	2,380,000		1,562,137
Turkiye Government Bonds
36.00%		08/12/26	TRY	578,630,000		12,798,546
U.K. Gilts
4.38% (8)		03/07/28	GBP	13,475,000		17,775,159
Total Foreign Government Bonds
(Cost: $104,846,202)						102,639,693
U.S. TREASURY SECURITIES — 0.2%
U.S. Treasury Notes
3.88%		03/31/28		551,000		551,872
3.88%		03/31/31		778,000		775,569
4.13%		02/15/36		5,030,000		4,951,799
Total U.S. Treasury Securities
(Cost: $6,250,380)						6,279,240
BANK LOANS — 4.3%
Advertising — 0.1%
Advantage Sales & Marketing, Inc. 2026 First Out Term Loan
9.78% (1 mo. USD Term SOFR + 6.000%) (4)		04/19/30		908,001		689,513
Research Now Group, Inc. 2024 First Lien First Out Term Loan
8.91% (3 mo. USD Term SOFR + 5.000%) (4)		07/15/28		682,931		673,544
						1,363,057
Aerospace & Defense — 0.1%
HDI Aerospace Intermediate Holding III Corp. Term Loan B
7.40% (3 mo. USD Term SOFR + 3.750%) (4)		02/11/32		851,400		855,129
TransDigm, Inc. 2023 Term Loan J
6.17% (1 mo. USD Term SOFR + 2.500%) (4)		02/28/31		887,281		888,399
TransDigm, Inc. 2025 Term Loan K
5.92% (1 mo. USD Term SOFR + 2.250%) (4)		03/22/30		176,330		176,531
TransDigm, Inc. 2025 Term Loan M
6.17% (1 mo. USD Term SOFR + 2.500%) (4)		08/19/32		1,239,868		1,241,238
						3,161,297

See accompanying Notes to Financial Statements.

159

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Airlines — 0.1%
SkyMiles IP Ltd. 2025 Repriced Term Loan B
5.17% (3 mo. USD Term SOFR + 1.500%) (4)		10/20/28	$	1,322,938	$	1,331,345
Apparel — 0.0%
ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B
5.92% (1 mo. USD Term SOFR + 2.250%) (4)		12/21/28		784,888		784,178
Beverages — 0.2%
Celsius Holdings, Inc. 2025 Term Loan B
6.20% (3 mo. USD Term SOFR + 2.500%) (4)		04/01/32		504,485		506,377
Naked Juice LLC 2025 FLFO Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (4)		01/24/29		3,494,262		3,484,740
Naked Juice LLC 2025 FLSO Term Loan
7.05% (3 mo. USD Term SOFR + 3.250%) (4)		01/24/29		43,138		23,151
Naked Juice LLC 2025 FLTO Term Loan
9.80% (3 mo. USD Term SOFR + 6.000%) (4)		01/24/30		396,304		87,629
Primo Brands Corp. 2026 Term Loan B
0.00% (12)		03/19/31		433,796		435,015
						4,536,912
Commercial Services — 0.3%
Amspec Parent LLC 2025 Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (4)		12/22/31		1,046,705		1,046,485
ASP Dream Acquisition Co. LLC Term Loan B
8.02% (1 mo. USD Term SOFR + 4.250%) (4)		12/15/28		995,104		922,959
CCRR Parent, Inc. Term Loan B
8.18% (3 mo. USD Term SOFR + 4.250%) (4)		03/06/28		351,659		100,858
CCRR Parent, Inc. US Acquisition Facility
8.02% (3 mo. USD Term SOFR + 4.250%) (4)		03/06/28		727,929		183,802

Issues	Maturity Date		Principal Amount		Value
Commercial Services (Continued)
Element Materials Technology Group U.S. Holdings, Inc. 2022 USD Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (4)		07/06/29	$	96,836	$	97,260
Fugue Finance BV 2026 USD Term Loan B
5.92% (3 mo. USD Term SOFR + 2.250%) (4)		01/09/32		550,811		545,132
Kelso Industries LLC Term Loan
9.42% (1 mo. USD Term SOFR + 5.750%) (4)		12/30/29		627,569		626,000
KUEHG Corp. 2025 Term Loan
6.45% (3 mo. USD Term SOFR + 2.750%) (4)		06/12/30		405,116		364,604
Priority Holdings LLC 2025 Term Loan B
7.42% (1 mo. USD Term SOFR + 3.750%) (4)		08/02/32		1,142,845		1,117,491
Secretariat Advisors LLC 2025 Delayed Draw Term Loan
0.00% (12)		02/28/32		58,712		57,831
Secretariat Advisors LLC 2025 Term Loan B
0.00% (12)		02/28/32		482,436		475,199
TTF Holdings LLC 2024 Term Loan
7.38% (6 mo. USD Term SOFR + 3.750%) (4)		07/18/31		1,459,990		1,094,992
Valvoline, Inc. Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (4)		12/01/32		989,712		994,537
						7,627,150
Computers — 0.1%
McAfee LLC 2024 USD 1st Lien Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (4)		03/01/29		713,301		639,296
Peraton Corp. Term Loan B
7.52% (3 mo. USD Term SOFR + 3.750%) (4)		02/01/28		851,536		728,774
Surf Holdings LLC 2025 Incremental Term Loan
7.28% (1 mo. USD Term SOFR + 3.500%) (4)		03/05/27		1,243,408		1,187,262
						2,555,332

See accompanying Notes to Financial Statements.

160

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Cosmetics/Personal Care — 0.0%
Opal Bidco SAS USD Term Loan B4
6.70% (3 mo. USD Term SOFR + 3.000%) (4)		04/28/32	$	614,787	$	615,171
Distribution & Wholesale — 0.1%
BCPE Empire Holdings, Inc. 2025 Term Loan B
6.92% (1 mo. USD Term SOFR + 3.250%) (4)		12/11/30		89,612		88,417
BCPE Empire Holdings, Inc. 2026 10th Amendment Term Loan
7.17% (1 mo. USD Term SOFR + 3.500%) (4)		12/29/32		2,314,550		2,282,736
						2,371,153
Diversified Financial Services —0.2%
Avolon TLB Borrower 1 U.S. LLC 2023 Term Loan B6
5.43% (1 mo. USD Term SOFR + 1.750%) (4)		06/24/30		1,989,393		1,995,610
Blackhawk Network Holdings, Inc. 2026 Term Loan B
7.17% (1 mo. USD Term SOFR + 3.500%) (4)		03/12/29		859,276		849,502
Guggenheim Partners LLC 2024 Term Loan B
6.20% (3 mo. USD Term SOFR + 2.500%) (4)		11/26/31		613,866		615,094
Jane Street Group LLC 2024 Term Loan B1
5.67% (3 mo. USD Term SOFR + 2.000%) (4)		12/15/31		824,845		810,785
						4,270,991
Electric — 0.1%
Alpha Generation LLC Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (4)		09/30/31		1,545,080		1,543,064
Cornerstone Generation LLC Term Loan B
5.92% (3 mo. USD Term SOFR + 2.250%) (4)		08/11/32		316,399		317,077
Potomac Energy Center LLC 2026 Term Loan B
6.42% (3 mo. USD Term SOFR + 2.750%) (4)		08/05/32		379,706		380,656
South Field LLC 2025 1st Lien Term Loan B
6.70% (3 mo. USD Term SOFR + 3.000%) (4)		08/29/31		401,755		403,766

Issues	Maturity Date		Principal Amount		Value
Electric (Continued)
South Field LLC 2025 1st Lien Term Loan C
6.70% (3 mo. USD Term SOFR + 3.000%) (4)		08/29/31	$	25,124	$	25,250
Vistra Operations Co. LLC 1st Lien Term Loan B3
5.42% (1 mo. USD Term SOFR + 1.750%) (4)		12/20/30		637,736		639,397
						3,309,210
Electrical Components & Equipment — 0.1%
Pelican Products, Inc. 2021 Term Loan
8.21% (3 mo. USD Term SOFR + 4.250%) (4)		12/29/28		2,012,095		1,795,815
Electronics — 0.0%
LSF12 Crown U.S. Commercial Bidco LLC 2026 Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (4)		12/02/31		510,483		511,632
TCP Sunbelt Acquisition Co. 2024 Term Loan B
7.92% (3 mo. USD Term SOFR + 4.250%) (4)		10/24/31		281,438		281,965
						793,597
Engineering & Construction — 0.1%
Astrion Group LLC 2024 Term Loan
8.70% (3 mo. USD Term SOFR + 5.000%) (4)		08/29/31		1,488,693		1,181,032
Entertainment — 0.2%
Betclic Everest Group SAS 2026 Term Loan B
0.00%		12/10/31	EUR	730,259		830,361
City Football Group Ltd. 2024 Term Loan
7.17% (1 mo. USD Term SOFR + 3.500%) (4)		07/22/30		825,022		824,251
DK Crown Holdings, Inc. 2025 Term Loan B
5.42% (1 mo. USD Term SOFR + 1.750%) (4)		03/04/32		153,750		153,775
EOC Borrower LLC Term Loan A
7.42% (1 mo. USD Term SOFR + 3.750%) (4)		03/24/28		371,178		371,642

See accompanying Notes to Financial Statements.

161

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Entertainment (Continued)
Flutter Financing BV 2024 Term Loan B
5.45% (3 mo. USD Term SOFR + 1.750%) (4)		11/30/30	$	408,344	$	404,873
Great Canadian Gaming Corp. 2024 Term Loan B
8.44% (3 mo. USD Term SOFR + 4.750%) (4)		11/01/29		926,645		914,677
Showtime Acquisition LLC 2024 1st Lien Term Loan
8.40% (3 mo. USD Term SOFR + 4.750%) (4)		08/16/31		649,876		643,377
TKO Worldwide Holdings LLC 2025 Term Loan
5.66% (3 mo. USD Term SOFR + 2.000%) (4)		11/21/31		953,782		954,378
Voyager Parent LLC Repriced Term Loan B
7.95% (3 mo. USD Term SOFR + 4.250%) (4)		07/01/32		1,382,831		1,375,198
						6,472,532
Environmental Control — 0.0%
Action Environmental Group, Inc. 2023 Term Loan B
6.69% (3 mo. USD Term SOFR + 3.000%) (4)		10/24/30		506,620		505,777
Heritage Environmental Services, Inc. 2026 Term Loan B
0.00%		03/18/33		555,583		556,972
						1,062,749
Food — 0.1%
BCPE North Star U.S. HoldCo 2, Inc. Term Loan
7.78% (1 mo. USD Term SOFR + 4.000%) (4)		06/09/28		868,936		867,524
C&S Wholesale Grocers, Inc. Term Loan B
8.70% (3 mo. USD Term SOFR + 5.000%) (4)		09/20/30		1,293,729		1,267,311
United Natural Foods, Inc. 2024 Term Loan
8.42% (1 mo. USD Term SOFR + 4.750%) (4)		05/01/31		755,250		760,537
						2,895,372

Issues	Maturity Date		Principal Amount		Value
Health Care-Products — 0.1%
Antylia Scientific Term Loan
7.66% (3 mo. USD Term SOFR + 4.000%) (4)		05/27/32	$	721,460	$	716,951
Hologic, Inc. 2026 Term Loan B
0.00%		01/14/33		767,711		759,508
QuidelOrtho Corp. Term Loan
7.67% (1 mo. USD Term SOFR + 4.000%) (4)		08/20/32		1,120,309		1,120,309
QuidelOrtho Corp. Term Loan A
5.92% (1 mo. USD Term SOFR + 2.250%) (4)		08/14/30		899,362		864,512
						3,461,280
Health Care-Services — 0.3%
ADMI Corp. 2021 Term Loan B2
7.16% (1 mo. USD Term SOFR + 3.375%) (4)		12/23/27		486,665		457,552
ADMI Corp. 2023 Term Loan B5
9.42% (1 mo. USD Term SOFR + 5.750%) (4)		12/23/27		279,773		268,233
Heartland Dental LLC 2025 Term Loan
7.42% (1 mo. USD Term SOFR + 3.750%) (4)		08/25/32		1,235,289		1,234,375
IQVIA, Inc. 2025 Incremental Term Loan B5
5.45% (3 mo. USD Term SOFR + 1.750%) (4)		01/02/31		491,421		493,448
ModivCare Buyer LLC Super Senior Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (4)		12/29/30		1,082,288		1,085,897
ModivCare Buyer LLC Takeback Term Loan
7.95% (3 mo. USD Term SOFR + 4.250%) (4)		12/30/32		1,463,568		1,375,754
NAPA Management Services Corp. Term Loan B
9.02% (1 mo. USD Term SOFR + 5.250%) (4)		02/23/29		1,217,581		768,221
Pediatric Associates Holding Co. LLC 2021 Term Loan B
7.18% (3 mo. USD Term SOFR + 3.250%) (4)		12/29/28		1,856,720		1,781,421
Star Parent, Inc. Term Loan B
7.70% (3 mo. USD Term SOFR + 4.000%) (4)		09/27/30		312,544		309,447
						7,774,348

See accompanying Notes to Financial Statements.

162

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Holding Companies — Diversified — 0.0%
GC Ferry Acquisition I, Inc. Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (4)		08/16/32	$	701,533	$	692,764
Household Products/Wares — 0.0%
Lavender Dutch BorrowerCo BV Term Loan
6.93% (3 mo. USD Term SOFR + 3.250%) (4)		12/30/32		1,034,523		1,021,591
Insurance — 0.0%
Asurion LLC 2021 Second Lien Term Loan B4
9.03% (1 mo. USD Term SOFR + 5.250%) (4)		01/20/29		258,970		257,698
Internet — 0.3%
Arches Buyer, Inc. 2021 Term Loan B
7.02% (1 mo. USD Term SOFR + 3.250%) (4)		12/06/27		275,491		274,889
Barracuda Networks, Inc. 2022 Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (4)		08/15/29		966,989		624,917
Delivery Hero SE 2024 USD Term Loan B
8.64% (3 mo. USD Term SOFR + 5.000%) (4)		12/12/29		1,745,418		1,718,696
Delivery Hero SE 2026 Term Loan B
10.75% (3 mo. USD Term SOFR + 4.000%) (4)		06/30/32		733,343		710,430
Magnite, Inc. 2025 Repriced Term Loan B
6.67% (1 mo. USD Term SOFR + 3.000%) (4)		02/06/31		920,107		913,206
MH Sub I LLC 2023 Term Loan
7.92% (1 mo. USD Term SOFR + 4.250%) (4)		05/03/28		706,714		609,540
MH Sub I LLC 2024 Term Loan B4
7.92% (1 mo. USD Term SOFR + 4.250%) (4)		12/31/31		1,055,018		708,181
Plano HoldCo, Inc. Term Loan B
7.20% (3 mo. USD Term SOFR + 3.500%) (4)		10/02/31		267,300		216,513

Issues	Maturity Date		Principal Amount		Value
Internet (Continued)
PUG LLC 2024 Extended Term Loan B
8.42% (1 mo. USD Term SOFR + 4.750%) (4)		03/15/30	$	856,451	$	845,480
Red Ventures LLC 2024 Term Loan B
6.42% (1 mo. USD Term SOFR + 2.750%) (4)		03/04/30		859,062		762,740
TripAdvisor, Inc. Term Loan
6.42% (1 mo. USD Term SOFR + 2.750%) (4)		07/08/31		624,257		594,083
						7,978,675
Leisure Time — 0.0%
Sabre GLBL, Inc. 2024 Term Loan B1
9.77% (1 mo. USD Term SOFR + 6.000%) (4)		11/15/29		318,813		252,959
Lodging — 0.1%
Hilton Domestic Operating Co., Inc. 2023 Term Loan B4
5.43% (1 mo. USD Term SOFR + 1.750%) (4)		11/08/30		1,457,180		1,461,660
Machinery-Construction & Mining — 0.1%
SGB-SMIT MidCo GmbH Term Loan B
0.00%		03/10/33	EUR	1,016,296		1,175,854
WEC U.S. Holdings Ltd. 2024 Term Loan
5.67% (1 mo. USD Term SOFR + 2.000%) (4)		01/27/31		618,823		618,436
						1,794,290
Machinery-Diversified — 0.1%
Oregon Tool, Inc. 2025 1st Lien Term Loan
9.00% (3 mo. USD Term SOFR + 5.350%) (4)		10/15/29		118,407		120,479
Oregon Tool, Inc. 2025 2nd Lien Term Loan
7.91% (3 mo. USD Term SOFR + 4.000%) (4)		10/15/29		2,691,775		1,912,278
						2,032,757

See accompanying Notes to Financial Statements.

163

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Media — 0.2%
Charter Communications Operating LLC 2024 Term Loan B5
5.91% (3 mo. USD Term SOFR + 2.250%) (4)		12/15/31	$	3,472,027	$	3,475,725
Virgin Media Bristol LLC 2023 Term Loan Y
0.00%		03/31/31		1,618,131		1,481,440
Ziggo Financing Partnership 2025 Term Loan B
7.03% (6 mo. USD Term SOFR + 3.250%) (4)		01/15/33		884,699		863,687
						5,820,852
Mining — 0.0%
American Rock Salt Co. LLC 2024 First Out Term Loan
10.78% (1 mo. USD Term SOFR + 7.000%) (4)		06/09/28		580,465		583,913
Miscellaneous Manufacturers — 0.0%
Cleanova U.S. Holdings LLC 2025 Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (4)		06/14/32		470,193		471,368
Office/Business Equipment — 0.1%
Xerox Holdings Corp. 2023 Non-CoOp Term Loan
7.73% (6 mo. USD Term SOFR + 4.000%) (4)		11/19/29		3,067,746		2,185,769
Packaging & Containers — 0.0%
Balcan Innovations, Inc. Term Loan B
8.42% (3 mo. USD Term SOFR + 4.750%) (4)		10/18/31		533,664		360,223
Pharmaceuticals — 0.0%
Paradigm Parent LLC 1st Lien Term Loan
8.20% (3 mo. USD Term SOFR + 4.500%) (4)		04/16/32		746,250		619,388
REIT — 0.3%
Healthpeak Properties, Inc. 2024 Term Loan A3
4.48% (3 mo. USD Term SOFR + 0.850%) (4)		03/01/29		1,664,689		1,639,718
Healthpeak Properties, Inc. Term Loan A1
4.51% (1 mo. USD Term SOFR + 0.840%) (4)		08/20/27		824,832		816,584

Issues	Maturity Date		Principal Amount		Value
REIT (Continued)
Healthpeak Properties, Inc. Term Loan A2
4.51% (1 mo. USD Term SOFR + 0.840%) (4)		02/22/27	$	824,832	$	816,584
Invitation Homes Operating Partnership LP 2024 Term Loan
4.53% (1 mo. USD Term SOFR + 0.850%) (4)		09/09/28		3,604,245		3,577,213
Iron Mountain, Inc. 2022 Term Loan A
5.42% (1 mo. USD Term SOFR + 1.750%) (4)		03/18/30		1,443,750		1,429,312
						8,279,411
Retail — 0.3%
1011778 BC Unlimited Liability Co. 2024 Term Loan B6
5.42% (1 mo. USD Term SOFR + 1.750%) (4)		09/20/30		868,466		867,602
BW Gas & Convenience Holdings LLC 2021 Term Loan B
7.28% (1 mo. USD Term SOFR + 3.500%) (4)		03/31/28		842,036		842,386
Dave & Buster’s, Inc. 2024 1st Lien Term Loan B
6.94% (3 mo. USD Term SOFR + 3.250%) (4)		11/01/31		854,421		717,867
KFC Holding Co. 2021 Term Loan B
5.54% (1 mo. USD Term SOFR + 1.750%) (4)		03/15/28		448,740		450,984
Michaels Cos., Inc. 2026 Term Loan B
8.67% (3 mo. USD Term SOFR + 5.000%) (4)		03/15/33		1,500,000		1,458,840
Peer Holding III BV 2025 USD Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (4)		09/29/32		400,000		397,062
Peer Holding III BV 2025 USD Term Loan B5B
6.20% (3 mo. USD Term SOFR + 2.500%) (4)		07/01/31		1,721,833		1,720,490
Raising Cane’s Restaurants LLC 2025 Term Loan B
5.67% (1 mo. USD Term SOFR + 2.000%) (4)		11/03/32		877,744		873,632
						7,328,863

See accompanying Notes to Financial Statements.

164

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Issues	Maturity Date		Principal Amount		Value
Software — 0.5%
Boxer Parent Co., Inc. 2025 USD Term Loan B
6.67% (3 mo. USD Term SOFR + 3.000%) (4)		07/30/31	$	997,481	$	927,553
Cast & Crew Payroll LLC 2021 Incremental Term Loan
7.42% (3 mo. USD Term SOFR + 3.750%) (4)		12/29/28		307,035		123,351
Cloud Software Group, Inc. 2025 Term Loan B (2031)
6.95% (3 mo. USD Term SOFR + 3.250%) (4)		03/21/31		654,308		601,309
Cloudera, Inc. 2021 Term Loan
7.52% (1 mo. USD Term SOFR + 3.750%) (4)		10/08/28		1,401,691		1,255,390
Darktrace PLC 1st Lien Term Loan
6.90% (3 mo. USD Term SOFR + 3.250%) (4)		10/09/31		1,888,894		1,813,584
DTI Holdco, Inc. 2025 Term Loan B
7.67% (1 mo. USD Term SOFR + 4.000%) (4)		04/26/29		1,276,299		1,105,065
EagleView Technology Corp. 2025 Term Loan
9.20% (3 mo. USD Term SOFR + 5.500%) (4)		08/14/28		1,265,428		1,155,102
Electronic Arts, Inc. USD Term Loan B
0.00% (12)		03/24/33		290,100		288,649
Planview Parent, Inc. 2024 1st Lien Term Loan
7.20% (3 mo. USD Term SOFR + 3.500%) (4)		12/17/27		950,530		715,872
Project Alpha Intermediate Holding, Inc. 2024 1st Lien Term Loan B
6.95% (3 mo. USD Term SOFR + 3.250%) (4)		10/26/30		1,617,881		1,233,270
Quartz Acquireco LLC 2025 Term Loan B
5.95% (3 mo. USD Term SOFR + 2.250%) (4)		06/28/30		1,074,552		899,938
Renaissance Holding Corp. 2024 1st Lien Term Loan
7.67% (3 mo. USD Term SOFR + 4.000%) (4)		04/05/30		2,458,492		1,767,815

Issues	Maturity Date		Principal Amount		Value
Software (Continued)
SolarWinds Holdings, Inc. 2025 Term Loan
7.67% (3 mo. USD Term SOFR + 4.000%) (4)		04/16/32	$	767,333	$	654,151
SonarSource Financing LLC Term Loan
8.17% (3 mo. USD Term SOFR + 4.500%) (4)		12/19/30		830,305		763,880
						13,304,929
Telecommunications — 0.1%
Altice Financing SA 2022 USD Term Loan
8.67% (3 mo. USD Term SOFR + 5.000%) (4)		10/31/27		372,732		271,513
GOGO Intermediate Holdings LLC Term Loan B
7.53% (1 mo. USD Term SOFR + 3.750%) (4)		04/30/28		671,955		589,980
Zayo Group Holdings, Inc. 2025 USD Term Loan
6.78% (1 mo. USD Term SOFR + 3.000%) (4)		03/11/30		586,297		576,737
						1,438,230
Total Bank Loans
(Cost: $119,346,443)						113,247,861
Total Fixed Income Securities
(Cost: $3,044,912,067)						2,762,544,532
CONVERTIBLE SECURITIES — 0.2%
CONVERTIBLE CORPORATE BONDS — 0.2%
Beverages — 0.1%
Davide Campari-Milano NV (Italy)
2.38% (8)		01/17/29	EUR	1,700,000		1,907,969
Commercial Services — 0.0%
Worldline SA (France)
0.00% (3),(8)		07/30/26	EUR	483,346		565,298
Engineering & Construction — 0.1%
Cellnex Telecom SA
0.75% (8)		11/20/31	EUR	1,800,000		1,847,483
Internet — 0.0%
Delivery Hero SE
1.50% (8)		01/15/28	EUR	1,200,000		1,291,123
Real Estate — 0.0%
Times China Holdings Ltd.
0.00% (1),(3)		03/30/27		91,814		576

See accompanying Notes to Financial Statements.

165

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Issues	Maturity Date		Principal Amount		Value
Real Estate (Continued)
Times China Holdings Ltd.
0.00% (1),(3)		03/30/27	$	401,185	$	3,141
						3,717
Total Convertible Corporate Bonds
(Cost: $5,940,826)						5,615,590
Total Convertible Securities
(Cost: $5,940,826)						5,615,590
Issues			Shares		Value
COMMON STOCK — 0.3%
Health Care-Services — 0.1%
ModivCare, Inc. (13)				263,210		1,710,865
Packaging & Containers — 0.0%
Ardagh Holdings SA (13)				158,987		1,172,529
Real Estate — 0.0%
China Aoyuan Group Ltd. (13)				408,851		3,077
Times China Holdings Ltd. (13)				226,791		2,144
						5,221
REIT — 0.2%
AGNC Investment Corp.				582,000		5,837,460
						5,837,460
Total Common Stock
(Cost: $12,758,143)						8,726,075

Issues	Shares		Value
INVESTMENT COMPANIES — 1.7%
TCW Private Asset Income Fund — I Class (14)		4,557,392	$	45,437,198
Total Investment Companies
(Cost: $45,584,285)				45,437,198
MONEY MARKET INVESTMENTS — 8.3%
State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% (15)		24,046,135		24,046,135
TCW Central Cash Fund, 3.69% (14),(15)		197,304,435		197,304,435
Total Money Market Investments
(Cost: $221,350,570)				221,350,570
Total Investments (114.1%)
(Cost: $3,330,545,891)				3,043,673,965
Net unrealized appreciation/depreciation on Unfunded Commitments (16) (0.0%)				(596	)
Liabilities In Excess Of Other Assets (-14.1%)				(375,839,651	)
Net Assets (100.0%)			$	2,667,833,718

Futures Contracts
Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
2,879	5-Year U.S. Treasury Note Futures		06/30/26	$	315,487,722		$	311,449,322		$	(4,038,400	)
Short Futures
185	10-Year Australian Bond Futures		06/15/26	$	(13,668,905	)	$	(13,653,106	)	$	15,799
2,592	10-Year U.S. Treasury Note Futures		06/18/26		(299,630,902	)		(294,232,500	)		5,398,402
349	2-Year U.S. Treasury Note Futures		06/30/26		(72,819,827	)		(72,398,414	)		421,413
361	3-Year Australian Bond Futures		06/15/26		(25,683,840	)		(25,628,563	)		55,277
53	30-Year Euro-Buxl Futures		06/08/26		(6,811,615	)		(6,733,202	)		78,413
337	Euro Schatz Futures		06/08/26		(41,392,778	)		(41,061,810	)		330,968
127	Euro-Bobl Futures		06/08/26		(16,994,230	)		(16,890,800	)		103,430
247	Euro-Bund Futures		06/08/26		(36,498,345	)		(35,685,161	)		813,184
57	Long Gilt Futures		06/26/26		(6,914,385	)		(6,598,811	)		315,574
709	U.S. Ultra Long Bond Futures		06/18/26		(84,996,023	)		(82,642,813	)		2,353,210
				$	(605,410,850	)	$	(595,525,180	)	$	9,885,670

See accompanying Notes to Financial Statements.

166

TCW MetWest Unconstrained Bond Fund

March 31, 2026

Forward Currency Exchange Contracts
Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY (17)
JP Morgan Chase Bank		AUD		35,850,850		04/01/26	$	24,677,676	$	24,554,250	$	(123,426	)
Bank of America		AUD		2,305,570		04/01/26		1,637,564		1,579,085		(58,479	)
Goldman Sachs & Co.		EUR		73,928,475		04/01/26		85,176,904		85,180,377		3,473
Citibank N.A.		EUR		2,356,680		04/01/26		2,714,773		2,715,367		594
Citibank N.A.		EUR		54,863		06/26/26		63,501		63,456		(45	)
Citibank N.A.		GBP		30,000,098		04/01/26		39,945,131		39,561,108		(384,023	)
Citibank N.A.		GBP		8,701		06/26/26		11,564		11,471		(93	)
							$	154,227,113	$	153,665,114	$	(561,999	)
SELL (18)
Citibank N.A.		AUD		5,275,141		04/01/26	$	3,541,848	$	3,612,944	$	(71,096	)
Barclays Capital		AUD		2,009,220		04/01/26		1,350,153		1,376,115		(25,962	)
Bank of America		AUD		3,309,091		04/01/26		2,219,986		2,266,397		(46,411	)
JP Morgan Chase Bank		AUD		27,562,968		04/01/26		18,497,932		18,877,879		(379,947	)
JP Morgan Chase Bank		AUD		34,965,038		06/26/26		24,029,558		23,917,192		112,366
Citibank N.A.		EUR		8,918,187		04/01/26		10,436,263		10,275,533		160,730
JP Morgan Chase Bank		EUR		54,979,163		04/01/26		64,488,390		63,346,985		1,141,405
Goldman Sachs & Co.		EUR		7,796,715		04/01/26		9,100,208		8,983,374		116,834
Barclays Capital		EUR		1,853,147		04/01/26		2,177,960		2,135,196		42,764
Bank of New York		EUR		2,737,943		04/01/26		3,207,938		3,154,657		53,281
Bank of New York		EUR		2,281,551		06/26/26		2,639,928		2,638,920		1,008
Goldman Sachs & Co.		EUR		74,890,497		06/26/26		86,629,641		86,620,950		8,691
Citibank N.A.		EUR		54,863		06/26/26		63,538		63,456		82
Bank of America		EUR		786,247		06/26/26		916,273		909,401		6,872
JP Morgan Chase Bank		GBP		16,825,888		04/01/26		22,496,063		22,188,286		307,777
Bank of America		GBP		131,135		04/01/26		175,537		172,928		2,609
Bank of New York		GBP		9,501,969		04/01/26		12,853,608		12,530,240		323,368
Citibank N.A.		GBP		3,541,107		04/01/26		4,783,850		4,669,654		114,196
Citibank N.A.		GBP		30,008,799		06/26/26		39,943,534		39,560,609		382,925
							$	309,552,208	$	307,300,716	$	2,251,492

Centrally Cleared - Interest Rate Swap Agreements
Notional Amount		Expiration Date	Payment Made by Fund Frequency	Payment Made by Fund	Payment Received by Fund Frequency	Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid			Value
GBP	143,542,000	03/20/28	Annual	12 - Month SONIA	Annual		3.93	%	$	(167,438	)	$	(786,255	)	$	(953,693	)

See accompanying Notes to Financial Statements.

167

TCW MetWest Unconstrained Bond Fund

Schedule of Investments (Continued)

Notes to the Schedule of Investments:

ABS Asset-Backed Securities.

ACES Alternative Credit Enhancement Securities.

AUD Australian Dollar.

CLO Collateralized Loan Obligation.

EUR Euro Currency.

GBP British Pound Sterling.

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.

PIK Payment In Kind.

REMIC Real Estate Mortgage Investment Conduits.

SOFR Secured Overnight Financing Rate.

SONIA Sterling Overnight Index Average.

STACR Structured Agency Credit Risk.

STRIPS Separate Trading of Registered Interest and Principal Securities.

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 March 31, 2026, the value of these securities amounted to $975,407,117 or 36.6% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Trust’s Board of Trustees.

(2) 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.

(3) Security is not accruing interest.

(4) Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2026.

(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) For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(7) Restricted security (Note 11).

(8) 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 March 31, 2026, the value of these securities amounted to $131,461,274 or 4.9% of net assets.

(9) 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.

(10) This security is purchased on a when-issued, delayed-delivery or forward commitment basis.

(11) Perpetual maturity.

(12) 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.

(13) Non-income producing security.

(14) Affiliated issuer.

(15) Rate disclosed is the 7-day net yield as of March 31, 2026.

(16) Unfunded or partially unfunded loan commitments. The Fund may enter into certain credit agreements for which all or a portion may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion.

(17) Fund buys foreign currency, sells USD.

(18) Fund sells foreign currency, buys USD.

See accompanying Notes to Financial Statements.

168

TCW MetWest Unconstrained Bond Fund

March 31, 2026

The summary of the TCW Metwest Unconstrained Bond Fund transactions in the affiliated funds for the year ended March 31, 2026 is as follows:

Name of Affiliated Fund	Value at March 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held March 31, 2026		Value at March 31, 2026		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 Central Cash Fund	$	274,063,488	$	2,145,440,947	$	2,222,200,000		197,304,435	$	197,304,435	$	3,852,121	$	—	$	—	$	—
TCW Private Asset Income Fund — I Class		7,104,479		38,479,806		—		4,557,392		45,437,198		2,980,766		9,190		—		(147,087	)
Total									$	242,741,633	$	6,832,887	$	9,190	$	—	$	(147,087	)

See accompanying Notes to Financial Statements.

169

TCW MetWest Unconstrained Bond Fund

Fair Valuation Summary March 31, 2026

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund’s 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
Residential Mortgage-Backed Securities — Non-Agency	$	—		$	709,026,105		$	—	$	709,026,105
Residential Mortgage-Backed Securities — Agency		—			653,784,038			—		653,784,038
Corporate Bonds		—			544,153,956			3,644,799		547,798,755
Commercial Mortgage-Backed Securities — Non-Agency		—			334,367,499			—		334,367,499
Asset-Backed Securities		—			246,879,823			28,811,883		275,691,706
Bank Loans		—			113,247,861			—		113,247,861
Foreign Government Bonds		—			102,639,693			—		102,639,693
Commercial Mortgage-Backed Securities — Agency		—			19,709,635			—		19,709,635
U.S. Treasury Securities		—			6,279,240			—		6,279,240
Total Fixed Income Securities		—			2,730,087,850			32,456,682		2,762,544,532
Convertible Securities
Convertible Corporate Bonds		—			5,615,590			—		5,615,590
Equity Securities
Money Market Investments		221,350,570			—			—		221,350,570
Investment Companies		—			45,437,198			—		45,437,198
Common Stock		3,077			8,722,998			—		8,726,075
Total Equity Securities		221,353,647			54,160,196			—		275,513,843
Net Unrealized Appreciation (Depreciation) on Unfunded Commitments		—			(596	)		—		(596	)
Total Investments	$	221,353,647		$	2,789,863,040		$	32,456,682	$	3,043,673,369
Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			2,778,975			—		2,778,975
Futures Contracts
Interest Rate Risk		9,885,670			—			—		9,885,670
Total	$	231,239,317		$	2,792,642,015		$	32,456,682	$	3,056,338,014
Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(4,038,400	)	$	—		$	—	$	(4,038,400	)
Forward Currency Contracts
Foreign Currency Risk		—			(1,089,482	)		—		(1,089,482	)
Swap Agreements
Interest Rate Risk		—			(953,693	)		—		(953,693	)
Total	$	(4,038,400	)	$	(2,043,175	)	$	—	$	(6,081,575	)

See accompanying Notes to Financial Statements.

170

TCW Metropolitan West Funds

Statements of Assets and Liabilities March 31, 2026

	TCW MetWest High Yield Bond Fund			TCW MetWest Investment Grade Credit Fund			TCW MetWest Low Duration Bond Fund			TCW MetWest Strategic Income Fund
ASSETS
Investments, at Value (1)	$	371,590,386		$	27,431,700		$	991,590,385		$	54,957,096
Investment in Affiliated Issuers, at Value (2)		6,118,795			893,446			38,711,802			9,470,522
Foreign Currency, at Value (3)		345,192			24,125			509,469			13,360
Cash		142,580			—			—			—
Receivable for Securities Sold		3,956,717			193,061			25,076,634			586,015
Receivable for Sale of When-Issued Securities		—			1,137,555			19,810,946			3,625,449
Receivable for Fund Shares Sold		72,103			40,929			25,746,750			4,870
Interest and Dividends Receivable		6,360,999			233,369			4,976,299			409,778
Receivable from Investment Advisor		54,678			9,597			267,714			16,605
Unrealized Appreciation on Forward Currency Exchange Contracts		242,070			11,512			550,765			40,842
Cash Collateral Held for Brokers		510,000			170,000			4,538,001			270,000
Net Unrealized Appreciation on Unfunded Loan Commitments		1,395			—			—			—
Receivable for Daily Variation Margin on Open Centrally Cleared Swap Contracts		—			—			123,946			11,789
Prepaid Expenses		835			3,137			31,593			5,107
Total Assets		389,395,750			30,148,431			1,111,934,304			69,411,433
LIABILITIES
Distributions Payable		530,729			—			323,040			1,053
Payable for Securities Purchased		3,896,502			720,449			60,011,522			670,446
Payable for Purchase of When-Issued Securities		—			3,443,031			129,225,751			11,888,241
Payable for Fund Shares Redeemed		382,355			75,145			2,120,150			109,394
Disbursements in Excess of Available Cash		—			30,000			770,111			73,154
Accrued Directors’ Fees and Expenses		3,894			267			8,305			611
Deferred Accrued Directors’ Fees and Expenses		1,490			113			3,298			285
Accrued Management Fees		163,859			7,640			230,852			30,675
Accrued Distribution Fees		16,844			1,613			12,328			5,996
Payable to broker for Daily Variation Margin on Open Financial Futures Contracts		54,213			7,049			51,736			12,949
Open OTC Swap Agreements, at Value		—			—			90,087			—
Unrealized Depreciation on Forward Currency Exchange Contracts		3,211			7,977			107,604			23,140
Transfer Agent Fees Payable		54,585			14,807			182,970			22,174
Administration Fee Payable		35,305			27,874			40,435			28,181
Audit Fees Payable		23,398			15,928			25,999			22,861
Accounting Fees Payable		12,641			816			26,036			1,890
Custodian Fees Payable		42,623			77,904			107,099			110,564
Interest Payable on Borrowings		5,295			354			12,031			825
Legal Fees Payable		3,283			207			6,996			495
Net Unrealized Depreciation on Unfunded Loan Commitments		—			—			110			—
Other Accrued Expenses		36,259			16,434			25,228			14,419
Total Liabilities		5,266,486			4,447,608			193,381,688			13,017,353
NET ASSETS	$	384,129,264		$	25,700,823		$	918,552,616		$	56,394,080
NET ASSETS CONSIST OF:
Paid-in Capital	$	527,251,535		$	28,317,303		$	1,116,644,607		$	68,108,864
Accumulated Earnings (Loss)		(143,122,271	)		(2,616,480	)		(198,091,991	)		(11,714,784	)
NET ASSETS	$	384,129,264		$	25,700,823		$	918,552,616		$	56,394,080
NET ASSETS ATTRIBUTABLE TO:
Administrative Class Shares	$	—		$	—		$	11,549		$	—
Class I Shares	$	305,288,293		$	18,092,964		$	842,585,107		$	28,115,925
Class I-3 Shares	$	10,131		$	—		$	100,402		$	—
Class M Shares	$	78,830,840		$	7,607,859		$	75,855,558		$	28,278,155
CAPITAL SHARES OUTSTANDING:
Administrative Class Shares		—			—			1,062			—
Class I Shares		33,536,131			2,277,102			100,046,618			4,570,223
Class I-3 Shares		1,040			—			10,070			—
Class M Shares		8,656,757			957,480			9,006,203			4,596,604
NET ASSET VALUE PER SHARE:
Administrative Class Shares	$	—		$	—		$	10.87		$	—
Class I Shares	$	9.10		$	7.95		$	8.42		$	6.15
Class I-3 Shares	$	9.74		$	—		$	9.97		$	—
Class M Shares	$	9.11		$	7.95		$	8.42		$	6.15

(1) The identified cost for the TCW MetWest High Yield Bond Fund, the TCW MetWest Investment Grade Credit Fund, the TCW MetWest Low Duration Bond Fund and the TCW MetWest Strategic Income Fund at March 31, 2026 was $381,779,256, $27,587,701, $994,121,205 and $59,095,831, respectively.

(2) The identified cost for investments in affiliated issuers of the TCW MetWest High Yield Bond Fund, the TCW MetWest Investment Grade Credit Fund, the TCW MetWest Low Duration Bond Fund and the TCW MetWest Strategic Income Fund was $6,118,795, $893,446, $38,711,802 and $9,473,523, respectively.

(3) The identified cost for the TCW MetWest High Yield Bond Fund, the TCW MetWest Investment Grade Credit Fund, the TCW MetWest Low Duration Bond Fund and the TCW MetWest Strategic Income Fund at March 31, 2026 was $345,192, $24,605, $513,067 and $13,758, respectively.

See accompanying Notes to Financial Statements.

171

TCW Metropolitan West Funds

Statements of Assets and Liabilities March 31, 2026

	TCW MetWest Sustainable Securitized Fund			TCW MetWest Total Return Bond Fund (1)			TCW MetWest Ultra Short Bond Fund			TCW MetWest Unconstrained Bond Fund
ASSETS
Investments, at Value (2)	$	26,547,479		$	29,969,628,012		$	42,369,805		$	2,800,932,332
Investment in Affiliated Issuers, at Value (3)		1,224,353			4,271,922,358			4,734,414			242,741,633
Foreign Currency, at Value (4)		9,247			33,871,405			27,550			1,941,300
Receivable for Securities Sold		63,605			1,141,107,247			1,269,223			7,813,013
Receivable for Sale of When-Issued Securities		1,233,882			796,807,630			718,296			229,146,157
Receivable for Fund Shares Sold		5,153			32,275,470			236,118			1,337,115
Interest and Dividends Receivable		97,119			159,990,731			191,670			18,343,627
Receivable from Investment Advisor		14,195			4,241,710			15,310			482,234
Unrealized Appreciation on Forward Currency Exchange Contracts		22,758			24,564,221			7,363			2,778,975
Receivable for Daily Variation Margin on Open Financial Futures Contracts		43,231			1,918,895			—			—
Cash Collateral Held for Brokers		135,000			225,639,951			247,000			20,482,001
Receivable for Daily Variation Margin on Open Centrally Cleared Swap Contracts		—			4,078,337			5,329			573,007
Prepaid Expenses		56			170,852			66			5,799
Total Assets		29,396,078			36,666,216,819			49,822,144			3,326,577,193
LIABILITIES
Distributions Payable		—			6,759,926			34			2,864,892
Payable for Securities Purchased		283,042			1,863,048,536			2,640,288			9,301,056
Payable for Purchase of When-Issued Securities		4,944,558			4,970,028,935			5,439,373			636,296,724
Payable for Fund Shares Redeemed		85,993			68,140,363			22,251			4,297,134
Disbursements in Excess of Available Cash		33,168			316,908			41,426			1,672,412
Accrued Directors’ Fees and Expenses		207			302,261			409			48,457
Deferred Accrued Directors’ Fees and Expenses		83			121,828			173			10,414
Accrued Management Fees		8,135			8,916,133			8,318			1,473,745
Accrued Distribution Fees		1,053			431,463			964			25,962
Payable to broker for Daily Variation Margin on Open Financial Futures Contracts		—			—			8,396			813,672
Unrealized Depreciation on Forward Currency Exchange Contracts		10,151			13,686,459			3,401			1,089,482
Transfer Agent Fees Payable		16,373			3,401,427			18,051			345,133
Administration Fee Payable		27,686			1,234,647			28,016			103,125
Audit Fees Payable		13,155			95,485			22,861			31,573
Accounting Fees Payable		613			966,467			1,336			80,796
Custodian Fees Payable		47,885			1,242,630			54,473			206,547
Interest Payable on Borrowings		214			443,920			592			34,797
Legal Fees Payable		136			260,098			346			20,684
Net Unrealized Depreciation on Unfunded Loan Commitments		—			14,502			—			596
Other Accrued Expenses		20,197			908,023			18,089			26,274
Total Liabilities		5,492,649			6,940,320,011			8,308,797			658,743,475
NET ASSETS	$	23,903,429		$	29,725,896,808		$	41,513,347		$	2,667,833,718
NET ASSETS CONSIST OF:
Paid-in Capital	$	25,196,423		$	43,288,524,894		$	53,925,014		$	3,213,304,127
Accumulated Earnings (Loss)		(1,292,994	)		(13,562,628,086	)		(12,411,667	)		(545,470,409	)
NET ASSETS	$	23,903,429		$	29,725,896,808		$	41,513,347		$	2,667,833,718
NET ASSETS ATTRIBUTABLE TO:
Administrative Class Shares	$	—		$	265,474,991		$	—		$	—
Class I Shares	$	18,914,512		$	18,807,017,744		$	34,477,378		$	2,184,609,829
Class I-2 Shares	$	—		$	23,025,430		$	—		$	—
Class I-3 Shares	$	—		$	3,909,653		$	—		$	10,272
Class M Shares	$	4,988,917		$	2,084,130,306		$	7,035,969		$	122,042,080
Plan Class Shares	$	—		$	8,542,338,684		$	—		$	361,171,537
CAPITAL SHARES OUTSTANDING:
Administrative Class Shares		—			29,133,794			—			—
Class I Shares		2,159,882			2,066,337,979			8,245,097			210,405,864
Class I-2 Shares		—			2,529,657			—			—
Class I-3 Shares		—			391,442			—			1,030
Class M Shares		569,975			228,899,956			1,687,388			11,743,677
Plan Class Shares		—			1,000,799,482			—			34,803,445
NET ASSET VALUE PER SHARE:
Administrative Class Shares	$	—		$	9.11		$	—		$	—
Class I Shares	$	8.76		$	9.10		$	4.18		$	10.38
Class I-2 Shares	$	—		$	9.10		$	—		$	—
Class I-3 Shares	$	—		$	9.99		$	—		$	9.97
Class M Shares	$	8.75		$	9.10		$	4.17		$	10.39
Plan Class Shares	$	—		$	8.54		$	—		$	10.38

(1) Consolidated Statement of Assets and Liabilities (See Note 2).

(2) The identified cost for the TCW MetWest Sustainable Securitized Fund, the TCW MetWest Total Return Bond Fund, the TCW MetWest Ultra Short Bond Fund and the TCW MetWest Unconstrained Bond Fund at March 31, 2026 was $26,670,873, $31,360,385,848, $42,450,164 and $3,087,657,171, respectively.

(3) The identified cost for investments in affiliated issuers of the TCW MetWest Sustainable Securitized Fund, the TCW MetWest Total Return Bond Fund, the TCW MetWest Ultra Short Bond Fund and the TCW MetWest Unconstrained Bond Fund was $1,224,353, $4,272,592,799, $4,734,414 and $242,888,720, respectively.

(4) The identified cost for the TCW MetWest Sustainable Securitized Fund, the TCW MetWest Total Return Bond Fund, the TCW MetWest Ultra Short Bond Fund and the TCW MetWest Unconstrained Bond Fund at March 31, 2026 was $9,335, $34,389,151, $28,053 and $1,964,385, respectively.

See accompanying Notes to Financial Statements.

172

TCW Metropolitan West Funds

Statements of Operations Year Ended March 31, 2026

	TCW MetWest High Yield Bond Fund			TCW MetWest Investment Grade Credit Fund			TCW MetWest Low Duration Bond Fund			TCW MetWest Strategic Income Fund
INVESTMENT INCOME
Income:
Dividends	$	98,574		$	3,454		$	198,630		$	14,082
Dividends from Investment in Affiliated Issuers		537,187			44,124			3,385,577			259,025
Interest		30,439,363			991,633			37,054,782			3,024,589
Total		31,075,124			1,039,211			40,638,989			3,297,696
Expenses:
Management Fees		2,114,912			92,672			2,686,499			373,179
Accounting Services Fees		12,641			816			26,036			1,890
Administration Fees		55,555			41,976			69,125			42,790
Transfer Agent Fees		263,754			39,432			863,003			76,475
Custodian Fees		43,305			74,239			87,192			95,615
Professional Fees		32,767			15,585			45,967			23,792
Directors’ Fees and Expenses		15,240			1,013			31,699			2,328
Registration and filing fees		109,108			42,556			83,670			47,004
Distribution (12b-1) and service fees — class specific (Note 8)
Administrative Class		—			—			22			—
Class M		218,095			19,231			161,668			92,929
Shareholder Reporting Expense		—			—			22			—
Other		62,972			14,995			76,827			17,102
Total		2,928,349			342,515			4,131,730			773,104
Less Expenses Borne by Investment Advisor:
Administrative Class Shares		—			—			(11,769	)		—
Class I Shares		(56,790	)		(135,459	)		(254,151	)		(68,855	)
Class I-3 Shares		(4,920	)		—			(4,988	)		—
Class M Shares		(110,709	)		(61,172	)		(15,604	)		(149,477	)
Net Expenses		2,755,930			145,884			3,845,218			554,772
Net Investment Income		28,319,194			893,327			36,793,771			2,742,924
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		(445,508	)		36,407			6,020,260			(1,262,725	)
Realized Gain Received as Distribution from Affiliated Issuers		—			—			—			201
Foreign Currency		47,349			3,904			19,319			4,413
Forward Currency Exchange Contracts		(1,150,018	)		(79,496	)		(919,001	)		(157,855	)
Futures Contracts		490,329			(9,371	)		(2,966,420	)		138,349
Swap Agreements		—			—			(13,468	)		(360	)
Change in Unrealized Appreciation (Depreciation) on:
Investments		(4,201,959	)		486,347			1,086,906			1,726,226
Foreign Currency		(8,415	)		(336	)		(12,843	)		(1,198	)
Forward Currency Exchange Contracts		833,160			38,106			788,611			85,969
Futures Contracts		(62,585	)		7,159			(1,564,649	)		57,943
Investments in Affiliated Issuers		—			—			—			(3,001	)
Swap Agreements		—			—			(78,489	)		(3,614	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions		(4,497,647	)		482,720			2,360,226			584,348
INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	23,821,547		$	1,376,047		$	39,153,997		$	3,327,272

See accompanying Notes to Financial Statements.

173

TCW Metropolitan West Funds

Statements of Operations Year Ended March 31, 2026

	TCW MetWest Sustainable Securitized Fund			TCW MetWest Total Return Bond Fund (1)			TCW MetWest Ultra Short Bond Fund			TCW MetWest Unconstrained Bond Fund
INVESTMENT INCOME
Income:
Dividends	$	3,445		$	1,639,144		$	—		$	1,166,416
Dividends from Investment in Affiliated Issuers		47,940			152,015,351			230,457			6,832,887
Interest		1,003,896			1,298,964,172			1,641,682			128,126,980
Total		1,055,281			1,452,618,667			1,872,139			136,126,283
Expenses:
Management Fees		82,700			111,733,193			105,735			17,304,909
Accounting Services Fees		613			966,467			1,336			80,796
Administration Fees		41,678			1,699,678			42,378			161,890
Transfer Agent Fees		34,187			17,595,375			51,466			1,547,645
Custodian Fees		48,260			1,304,663			44,325			193,706
Professional Fees		12,446			836,440			23,373			94,603
Directors’ Fees and Expenses		781			1,132,116			1,600			100,906
Registration and filing fees		52,749			447,034			48,309			162,210
Distribution (12b-1) and service fees — class specific (Note 8)
Administrative Class		—			682,734			—			—
Class M		9,958			4,983,237			14,435			323,382
Shareholder Reporting Expense		—			650,223			—			—
Other		7,402			3,956,949			12,869			175,686
Total		290,774			145,988,109			345,826			20,145,733
Less Expenses Borne by Investment Advisor:
Class I Shares		(131,250	)		(3,797,752	)		(131,680	)		(425,463	)
Class I-2 Shares		—			(8,851	)		—			—
Class I-3 Shares		—			(5,017	)		—			(6,106	)
Class M Shares		(49,852	)		(260,982	)		(55,910	)		(25,463	)
Plan Class		—			(131,291	)		—			(7,626	)
Net Expenses		109,672			141,784,216			158,236			19,681,075
Net Investment Income		945,609			1,310,834,451			1,713,903			116,445,208
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		207,786			(75,542,503	)		184,128			5,186,914
Realized Gain Received as Distribution from Affiliated Issuers		—			42,760			—			9,190
Foreign Currency		3,898			4,468,413			1,694			58,081
Forward Currency Exchange Contracts		(14,582	)		(105,263,176	)		(16,611	)		(8,338,841	)
Futures Contracts		130,374			144,575,854			(130,271	)		3,297,652
Swap Agreements		—			82,074			(567	)		(19,855	)
Change in Unrealized Appreciation (Depreciation) on:
Investments		(8,992	)		259,668,436			84,924			27,076,665
Foreign Currency		(122	)		(886,344	)		(1,012	)		(10,661	)
Forward Currency Exchange Contracts		19,453			54,957,697			9,549			4,992,210
Futures Contracts		(169,601	)		(133,037,449	)		79,424			4,761,227
Investments in Affiliated Issuers		—			(670,441	)		—			(147,087	)
Swap Agreements		—			(2,330,604	)		(3,119	)		(167,438	)
Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions		168,214			146,064,717			208,139			36,698,057
INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	1,113,823		$	1,456,899,168		$	1,922,042		$	153,143,265

(1) Consolidated Statement of Operations (See Note 2).

See accompanying Notes to Financial Statements.

174

TCW Metropolitan West Funds

Statements of Changes in Net Assets

	TCW MetWest High Yield Bond Fund						TCW MetWest Investment Grade Credit Fund
	Year Ended March 31, 2026			Year Ended March 31, 2025			Year Ended March 31, 2026			Year Ended March 31, 2025
OPERATIONS
Net Investment Income	$	28,319,194		$	29,626,125		$	893,327		$	1,165,083
Net Realized Loss on Investments, Futures Contracts and Foreign Currency Transactions		(1,057,848	)		(33,047,343	)		(48,556	)		(190,464	)
Change in Unrealized Appreciation on Investments, Futures Contracts and Foreign Currency Transactions		(3,439,799	)		31,041,016			531,276			681,995
Increase in Net Assets Resulting from Operations		23,821,547			27,619,798			1,376,047			1,656,614
DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(28,012,530	)		(29,524,859	)		(1,050,722	)		(1,161,753	)
NET CAPITAL SHARE TRANSACTIONS
Class I Shares		(16,466,025	)		(29,953,852	)		(2,394,741	)		(675,327	)
Class I-3 Shares		10,399			—			—			—
Class M Shares		(13,337,457	)		(17,737,827	)		(102,689	)		1,434,573
Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		(29,793,083	)		(47,691,679	)		(2,497,430	)		759,246
Increase (Decrease) in Net Assets		(33,984,066	)		(49,596,740	)		(2,172,105	)		1,254,107
NET ASSETS
Beginning of year		418,113,330			467,710,070			27,872,928			26,618,821
End of year	$	384,129,264		$	418,113,330		$	25,700,823		$	27,872,928

See accompanying Notes to Financial Statements.

175

TCW Metropolitan West Funds

Statements of Changes in Net Assets

	TCW MetWest Low Duration Bond Fund						TCW MetWest Strategic Income Fund
	Year Ended March 31, 2026			Year Ended March 31, 2025			Year Ended March 31, 2026			Year Ended March 31, 2025
OPERATIONS
Net Investment Income	$	36,793,771		$	47,797,184		$	2,742,924		$	4,991,480
Net Realized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		2,140,690			(5,105,000	)		(1,277,977	)		(1,045,872	)
Change in Unrealized Appreciation on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		219,536			19,980,916			1,862,325			905,508
Increase in Net Assets Resulting from Operations		39,153,997			62,673,100			3,327,272			4,851,116
DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(36,164,616	)		(47,634,530	)		(3,389,575	)		(4,982,490	)
NET CAPITAL SHARE TRANSACTIONS
Administrative Class Shares		419			459			—			—
Class I Shares		12,552,680			(297,460,045	)		7,139,014			(1,824,718	)
Class I-3 Shares		101,171			—			—			—
Class M Shares		(34,214,906	)		(44,930,861	)		(15,704,562	)		(8,263,968	)
Decrease in Net Assets Resulting from Net Capital Shares Transactions		(21,560,636	)		(342,390,447	)		(8,565,548	)		(10,088,686	)
Decrease in Net Assets		(18,571,255	)		(327,351,877	)		(8,627,851	)		(10,220,060	)
NET ASSETS
Beginning of year		937,123,871			1,264,475,748			65,021,931			75,241,991
End of year	$	918,552,616		$	937,123,871		$	56,394,080		$	65,021,931

See accompanying Notes to Financial Statements.

176

TCW Metropolitan West Funds

Statements of Changes in Net Assets

	TCW MetWest Sustainable Securitized Fund						TCW MetWest Total Return Bond Fund
	Year Ended March 31, 2026			Year Ended March 31, 2025			Year Ended March 31, 20261			Year Ended March 31, 2025
OPERATIONS
Net Investment Income	$	945,609		$	772,254		$	1,310,834,451		$	1,849,526,494
Net Realized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		327,476			55,208			(31,636,578	)		(637,914,628	)
Change in Unrealized Appreciation on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		(159,262	)		351,555			177,701,295			851,714,750
Increase in Net Assets Resulting from Operations		1,113,823			1,179,017			1,456,899,168			2,063,326,616
DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(956,191	)		(771,176	)		(1,337,270,168	)		(1,853,449,599	)
NET CAPITAL SHARE TRANSACTIONS
Administrative Class Shares		—			—			(174,415,062	)		(759,771,441	)
Class I Shares		5,011,011			5,679,198			(3,093,247,231	)		(9,399,449,442	)
Class I-2 Shares		—			—			(15,384,337	)		(29,819,467	)
Class I-3 Shares		—			—			3,936,570			—
Class M Shares		1,834,993			3,053,550			(577,974,923	)		(1,189,767,135	)
Plan Class Shares		—			—			(1,490,092,065	)		(5,853,278,637	)
Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		6,846,004			8,732,748			(5,347,177,048	)		(17,232,086,122	)
Increase (Decrease) in Net Assets		7,003,636			9,140,589			(5,227,548,048	)		(17,022,209,105	)
NET ASSETS
Beginning of year		16,899,793			7,759,204			34,953,444,856			51,975,653,961
End of year	$	23,903,429		$	16,899,793		$	29,725,896,808		$	34,953,444,856

1 Consolidated Statement of Changes in Net Assets (See Note 2).

See accompanying Notes to Financial Statements.

177

TCW Metropolitan West Funds

Statements of Changes in Net Assets

	TCW MetWest Ultra Short Bond Fund						TCW MetWest Unconstrained Bond Fund
	Year Ended March 31, 2026			Year Ended March 31, 2025			Year Ended March 31, 2026			Year Ended March 31, 2025
OPERATIONS
Net Investment Income	$	1,713,903		$	2,075,616		$	116,445,208		$	171,005,871
Net Realized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		38,373			136,897			193,141			(17,478,830	)
Change in Unrealized Appreciation on Investments, Futures Contracts, Foreign Currency Transactions and Swap Contracts		169,766			528,441			36,504,916			36,308,913
Increase in Net Assets Resulting from Operations		1,922,042			2,740,954			153,143,265			189,835,954
DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(1,705,712	)		(2,065,757	)		(151,627,972	)		(169,905,997	)
NET CAPITAL SHARE TRANSACTIONS
Class I Shares		(901,914	)		(3,064,843	)		51,745,271			82,887,558
Class I-3 Shares		—			—			10,306			—
Class M Shares		(4,227,541	)		(1,884,481	)		(13,293,925	)		(7,470,384	)
Plan Class Shares		—			—			(117,164,359	)		74,999,354
Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		(5,129,455	)		(4,949,324	)		(78,702,707	)		150,416,528
Increase (Decrease) in Net Assets		(4,913,125	)		(4,274,127	)		(77,187,414	)		170,346,485
NET ASSETS
Beginning of year		46,426,472			50,700,599			2,745,021,132			2,574,674,647
End of year	$	41,513,347		$	46,426,472		$	2,667,833,718		$	2,745,021,132

See accompanying Notes to Financial Statements.

178

TCW Metropolitan West Funds

Notes to Financial Statements March 31, 2026

1. SUMMARY OF ORGANIZATION

The TCW Metropolitan West Funds (the “Trust”) is an open-end management investment company organized as a Delaware statutory trust on December 9, 1996 and registered under the Investment Company Act of 1940, as amended (the “1940 Act”). Metropolitan West Asset Management, LLC (the “Adviser”), a federally registered investment adviser, provides the Funds (as defined below) with investment management services. The Trust currently consists of eight separate portfolios (each a “Fund” and collectively, the “Funds”): TCW MetWest High Yield Bond Fund (the “High Yield Bond Fund”), TCW MetWest Investment Grade Credit Fund (the “Investment Grade Credit Fund”), TCW MetWest Low Duration Bond Fund (the “Low Duration Bond Fund”), TCW MetWest Strategic Income Fund (the “Strategic Income Fund”), TCW MetWest Sustainable Securitized Fund (the “Sustainable Securitized Fund”), TCW MetWest Total Return Bond Fund (the “Total Return Bond Fund”), TCW MetWest Ultra Short Bond Fund (the “Ultra Short Bond Fund”) and TCW MetWest Unconstrained Bond Fund (the “Unconstrained Bond Fund”). The High Yield Bond Fund commenced investment operations on September 30, 2002 with Class M shares; Class I was added on March 31, 2003; and Class I-3 was added on August 25, 2025. The Investment Grade Credit Fund commenced investment operations on June 29, 2018 with Class M and Class I shares. The Low Duration Bond Fund commenced investment operations on March 31, 1997 with Class M shares; Class I was added on March 31, 2000; Administrative Class was added on September 22, 2009; and Class I-3 was added on August 25, 2025. The Strategic Income Fund commenced investment operations on June 30, 2003 with Class M shares; Class I was added on March 31, 2004. The Sustainable Securitized Fund commenced investment operations on October 1, 2021 with Class M and Class I shares. The Total Return Bond Fund commenced investment operations on March 31, 1997 with Class M shares; Class I was added on March 31, 2000; Class I-2 was added on March 6, 2020; Administrative Class was added on December 18, 2009; Plan Class was added on July 31, 2011; and Class I-3 was added on August 25 2025. The Ultra Short Bond Fund commenced investment operations on June 30, 2003 with Class M shares; Class I was added on July 31, 2004. The Unconstrained Bond Fund commenced investment operations on September 30, 2011 with Class M and Class I shares; Plan Class was added on March 6, 2020; and Class I-3 was added on August 25, 2025. Each Fund is an investment company following the accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 946, Financial Services – Investment Companies.

The High Yield Bond Fund seeks to maximize long-term total return consistent with preservation of capital. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in high yield bonds (commonly known as “junk bonds”). The remainder of the Fund’s net assets may be invested in investment grade securities rated by one of the nationally recognized statistical rating organizations or, if unrated, determined by the Adviser to be of comparable quality. The Fund’s portfolio duration is two to eight years. The Fund’s dollar-weighted average maturity is expected to range from two to fifteen years.

The Investment Grade Credit Fund seeks to maximize long-term total return. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities and instruments it regards as bonds in the U.S and abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations and governments. There is no limit on the weighted average maturity of the Fund’s portfolio, and the Fund’s average portfolio duration is expected, but not required, to vary from two to eight years.

179

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

1. SUMMARY OF ORGANIZATION (Continued)

The Low Duration Bond Fund seeks to maximize current income, consistent with preservation of capital. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities it regards as bonds. The Fund’s portfolio duration is up to three years. The Fund’s dollar-weighted average maturity is expected to range from one to five years.

The Strategic Income Fund seeks to maximize long-term total return without tracking any particular markets or indices. The Fund pursues its objective by utilizing a flexible investment approach that allocates investments across a range of global investment opportunities related to credit, currencies and interest rates. Satisfying the Fund’s objective would require it to achieve positive total returns over a full market cycle, i.e., a period of time generally understood to be contained between two consecutive periods of heightened default activity within the global fixed income markets. Total return includes income and capital gains, but the Fund’s strategy is also intended to produce high income.

The Sustainable Securitized Fund seeks to maximize current income and achieve above average long-term total return by investing at least 80% of its net assets in debt securities issued by securitized vehicles and similar instruments that the Adviser believes satisfy its proprietary screening criteria that identify securities with one or more positive environmental, social or sustainable factors. The Fund’s portfolio duration is two to eight years and the Fund’s dollar-weighted average maturity ranges from two to fifteen years. On March 16, 2026, the Board of Trustees of the TCW Metropolitan West Funds approved the reorganization of the TCW MetWest Sustainable Securitized Fund into the TCW Securitized Income ETF, a new series of the TCW ETF Trust.

The Total Return Bond Fund seeks to maximize long-term total return. The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in investment grade fixed income securities or unrated securities determined by the Adviser to be of comparable quality. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities it regards as bonds. The Fund’s portfolio duration is two to eight years. The Fund’s dollar-weighted average maturity is expected to range from two to fifteen years.

The Ultra Short Bond Fund seeks to maximize current income, consistent with preservation of capital. The Fund pursues its objective by investing, under normal circumstances, at least 90% of its net assets in investment grade fixed income securities or unrated securities determined by the Adviser to be of comparable quality. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities it regards as bonds. The Fund’s portfolio duration normally will remain within one year of its benchmark index. The Fund’s dollar-weighted average maturity normally exceeds one year.

The Unconstrained Bond Fund seeks to provide investors with positive long-term returns irrespective of general securities market conditions. The Fund intends to pursue its objective by utilizing a flexible investment approach that allocates investments across a range of global investment opportunities related to credit, currencies and interest rates. The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities and instruments it regards as bonds in the U.S. and abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations and governments. There is no limit on the weighted average maturity of the Fund’s portfolio, and the average portfolio duration of the fixed-income portion of the Fund’s portfolio is expected to vary from negative three (-3) years to positive eight (8) years.

180

TCW Metropolitan West Funds

March 31, 2026

1. SUMMARY OF ORGANIZATION (Continued)

A more complete description of the objectives and strategies of each of the Funds can be found in the Prospectuses and the Statement of Additional Information, which can be obtained at www.tcw.com or by calling (800) 386-3829.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies, which are in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and which are consistently followed by the Funds in the preparation of their financial statements. Each Fund is considered an investment company under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 946, Financial Services — Investment Companies. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements.

Principles of Accounting: The Funds use the accrual method of accounting for financial reporting purposes.

Principles of Consolidation: Effective May 30, 2025, the TCW MetWest Cayman Total Return Bond Fund, Ltd. (the “Subsidiary”), a Cayman Islands exempted company, was incorporated as a wholly owned subsidiary acting as an investment vehicle for the Total Return Bond Fund (the “Parent”) in order to effect certain investments for the Parent consistent with the Parent’s investment objectives and policies as specified in its prospectus and statement of additional information. The accompanying financial statements are consolidated and include the accounts of the Subsidiary. The Parent’s investment in the Subsidiary will normally not exceed 25% of the value of the Parent’s total assets tested at the time of making an investment. The net assets of the Subsidiary at March 31, 2026 were $471,713,354 or 1.59% of the Parent’s consolidated net assets. Intercompany balances and transactions have been eliminated in consolidation.

Net Asset Value: The Net Asset Value (“NAV”) of each class of a Fund is determined by dividing the net assets attributable to each class of shares of the Fund by the number of issued and outstanding shares of the class of the Fund on each business day as of 4 p.m. ET.

Security Valuation: Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees (the “Board” or the “Board of Trustees”, and each member thereof, a “Trustee”) has designated the Adviser as the “valuation designee” with respect to the fair valuation of the Funds’ portfolio securities, subject to oversight by and periodic reporting to the Board. Fixed income securities for which market quotations are readily available were valued during the period at prices as provided by independent pricing vendors or broker quotes. The Funds received pricing information from independent pricing vendors selected and overseen by the valuation designee. Securities with a demand feature exercisable within one to seven days are valued at par. The Funds also use a benchmark pricing system to the extent vendors’ prices for their securities are either inaccurate (such as when the reported prices are different from recent known market transactions) or are not available from another pricing source. For a security priced using this system, the Adviser initially selects a proxy composed of a relevant security (e.g., U.S. Treasury Note) or benchmark and a multiplier, divisor or margin that the Adviser believes would together best reflect changes in the market value of the security. The value of the security changes daily based on changes to the market price of the assigned benchmark. The benchmark pricing system is continuously reviewed by the Adviser and implemented according to the pricing policy reviewed by the Board. S&P 500 Index futures contracts are valued at the first sale

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price after 4 p.m. ET on the Chicago Mercantile Exchange. All other futures contracts are valued at the official settlement price of the exchange on which those securities are traded. Equity securities, including depository receipts, are valued at the last reported sale price or the market’s closing price on the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the average of the bid and ask prices. In cases where equity securities are traded on more than one exchange, the securities are valued on the exchange or market determined by the Adviser to be the broadest and most representative market, which may be either a securities exchange or the over-the-counter market. Equity options are valued at the average of the bid and ask prices. Securities and other assets that could not be valued as described above were valued at their fair value as determined by the Adviser in accordance with procedures approved by and under the general oversight of the Board.

Investments in registered open-ended investment companies, including those classified as money market funds, are valued based upon the reported NAV of such investments.

Shares Not Listed; No Market for Shares. TCW Private Asset Income Fund (“TPAY”) has been organized as a closed-end management investment company. Closed-end funds differ from open-end management investment companies (commonly known as mutual funds) because investors in a closed-end fund do not have the right to redeem their shares on a daily basis. Unlike most closed-end funds, which typically list their shares on a securities exchange, TPAY does not currently intend to list the Shares for trading on any securities exchange, and TPAY does not expect any secondary market to develop for the Shares in the foreseeable future. Therefore, an investment in TPAY, unlike an investment in a typical closed-end fund, is not a liquid investment. Shareholders of TPAY are not able to have their shares redeemed or otherwise sell their shares daily. TPAY is an “interval fund,” a type of fund which, in order to provide liquidity to shareholders, has adopted a fundamental investment policy to make quarterly offers to repurchase between 5% and 25% of its outstanding Shares at NAV per Share.

The Funds’ investment in the TPAY is valued in accordance with ASC Topic 820, Fair Value Measurement. TPAY is an interval fund that publishes a daily net asset value (“NAV”) per share and permits transactions at the published NAV on the applicable measurement date, subject to the terms of its quarterly repurchase offers. The published NAV of TPAY is considered a readily determinable fair value, as it is calculated and disseminated on a daily basis and represents the price at which current transactions may occur on the measurement date. Because TPAY can be transacted at its published NAV, that NAV represents an exit price in an orderly transaction between market participants at the measurement date. Accordingly, the Funds value their investment in TPAY at the published NAV as of the measurement date. For fair value hierarchy classification, the investment in TPAY is classified within Level 2 of the fair value hierarchy, as the valuation is based on observable inputs, specifically the published NAV, but does not represent a quoted price in an active market for an identical investment that is freely tradable on a daily basis.

Fair value methods used by the Adviser included, but were not limited to, obtaining market quotations from secondary pricing services, broker-dealers, or widely used quotation systems. General factors considered in determining the fair value of securities include fundamental analytical data, the nature and duration of any restrictions on disposition of the securities, and an evaluation of the forces that influence the market in which the investments are purchased and sold. These securities are either

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categorized as Level 2 or 3 depending on the relevant inputs used. In the event that the security or asset could not be valued pursuant to one of the valuation methods used by the Adviser, the value of the security or asset was determined in good faith by the Adviser, as the valuation designee. When a Fund uses these fair valuation methods that use significant unobservable inputs to determine NAV, securities will be priced by a method that the Adviser believes accurately reflects fair value and are categorized as Level 3 of the fair value hierarchy. These methods may require subjective determinations about the value of a security. While the Funds’ policy is intended to result in a calculation of its NAV that fairly reflects security values as of the time of pricing, the Funds cannot guarantee that values determined by the Adviser would accurately reflect the price that a Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Funds may differ from the value that would be realized if the securities were sold.

Foreign Currency Translation: The books and records of each Fund are maintained in U.S. dollars as follows: (1) foreign currency denominated securities and other assets and liabilities stated in foreign currencies are translated using the daily spot rate; and (2) purchases, sales, income and expenses are translated at the rate of exchange prevailing on the respective dates of such transactions. The resultant exchange gains and losses are included in net realized or net unrealized gain (loss) in the Statements of Operations. Pursuant to U.S. federal income tax regulations, certain foreign exchange gains and losses included in realized and unrealized gains and losses are reclassified to ordinary income for federal income tax purposes.

Foreign Taxes: The Funds may be subject to withholding taxes on income and capital gains imposed by certain countries in which they invest. The withholding tax on income is netted against the income accrued or received. Any reclaimable taxes are recorded as income. The withholding tax on realized or unrealized gain is recorded as a liability.

Securities and Derivatives Transactions and Investment Income: Securities transactions are accounted for no later than the first NAV calculation on the first business day following the trade date. However, for financial reporting purposes, portfolio securities transactions are reported on the trade date. Cost is determined and gains and losses are based on the first-in, first-out method for both financial statement and federal income tax purposes. Dividend income is recorded on the ex-dividend date. Interest income is accrued daily. Discounts, including original issue discount, and premiums on securities are amortized using the effective interest method.

Distributions to Shareholders: Distributions to shareholders are recorded on the ex-dividend date. The Funds expect to pay dividends monthly to shareholders. Distributions of net capital gains, if any, will be made at least annually. The Board may determine to declare and make distributions more or less frequently.

Federal Income Taxation: It is each Fund’s policy to continue to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its net taxable income, including any net realized gain on investments, to its shareholders. Therefore, no federal income tax provision is required.

Income and long-term capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. Distributions determined in accordance with tax

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regulations may differ in amount or character from net investment income and realized gains for financial reporting purposes. Financial reporting records are adjusted for permanent book/tax differences to reflect tax character. Financial records are not adjusted for temporary differences.

Management has analyzed the Funds’ tax positions taken on federal income tax returns for all open tax years (current and prior three tax years), and has concluded that no provision for federal income tax is required in the Funds’ financial statements. The Funds are subject to examination by U.S. federal and state tax authorities for returns filed for the prior three and four fiscal years, respectively.

As of and during the year ended March 31, 2026, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statements of Operations. During the year ended March 31, 2026, the Funds did not incur any interest or penalties.

Cash and Cash Equivalents: The Trust has defined cash and cash equivalents as cash which can be in interest-bearing accounts. The Funds also maintain cash in bank account deposits that, at times, may exceed federally insured limits. The Funds have not experienced any losses in any such accounts.

Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Fair Value Measurements: Various inputs are used in determining the fair value of investments, which are as follows:

* Level 1 —	unadjusted quoted prices in active markets for identical securities
* Level 2 —	other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
* Level 3 —	significant unobservable inputs that are not corroborated by observable market data

The inputs or methodology 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 as 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.

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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 in its entirety.

Asset-backed securities and mortgage-backed securities. The fair value of asset-backed securities and mortgage-backed securities is estimated based on 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 as Level 2 of the fair value hierarchy; otherwise they would be categorized as 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 market inputs obtained from independent sources. Bank loans are generally categorized as Level 2 of the fair value hierarchy, unless key inputs are unobservable; they would then be categorized as Level 3.

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 as 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 as Level 3 of the hierarchy.

Credit default swaps. Credit default swaps are fair valued using pricing models that take into account, among other factors, information received from market makers and broker-dealers, default probabilities from index-specific credit spread curves, recovery rates, 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 as Level 3.

Equity securities. Securities such as common stocks and warrants are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded, valuation adjustments are not applied and they are categorized as Level 1 of the fair value hierarchy. Restricted securities issued by publicly held companies are valued at a discount to similar publicly traded securities and may be categorized as Level 2 of the fair value hierarchy to the extent that the discount is considered to be insignificant to the fair value measurement in its entirety; otherwise they may be categorized as Level 3. Restricted securities held in non-public entities are categorized as Level 3 of the fair value hierarchy because they trade infrequently, and therefore the inputs are unobservable.

Foreign currency contracts. The fair value of foreign currency contracts is derived from indices, reference rates, and other inputs or a combination of these factors. These contracts are normally valued on the basis of broker-dealer quotations or by pricing service providers. Depending on the product and the terms of the transaction, the value of financial derivatives can be estimated by a pricing service provider using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as indices and exchange rates. Foreign currency contracts are categorized as Level 2 of the fair value hierarchy.

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Futures contracts. Futures contracts and options on futures contracts are traded on commodity exchanges and are fair valued based on quoted prices from the applicable exchange, and to the extent valuation adjustments are not applied to futures contracts, they are categorized as Level 1. To the extent that valuation adjustments are observable and timely, the fair values of futures contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Interest rate swaps. Interest rate swaps are fair valued using pricing models that are based on real-time intraday snapshots of relevant interest rate curves that are built using the most actively traded securities for a given maturity. The pricing models also incorporate cash and money market rates. In addition, market data pertaining to interest rate swaps are monitored regularly to ensure that interest rates are properly depicting the current market rate. To the extent that these inputs are observable and timely, the fair values of interest rate swaps would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Money market funds. Money market funds are open-ended 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 as 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 would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Options and Swaptions contracts. Exchange-listed options contracts are traded on securities exchanges and are fair valued based on quoted prices from the applicable exchange, and to the extent valuation adjustments are not applied, they are categorized as Level 1. If valuation adjustments are applied and such adjustments are observable and timely, the fair values of exchange-listed options contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3. Options and swaptions contracts traded over-the-counter (“OTC”) are fair valued based on pricing models and incorporate various inputs such as interest rates, credit spreads, currency exchange rates and volatility measurements for in-the-money, at-the-money, and out-of-the-money contracts based on a given strike price. To the extent that these inputs are observable and timely, the fair values of OTC options and swaptions contracts would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

Restricted securities. Restricted securities that are deemed to be both Rule 144A securities and illiquid, as well as restricted securities held in non-public entities, are categorized as Level 3 of the fair value hierarchy because they trade infrequently, and therefore the inputs are unobservable. Any other restricted securities are valued at a discount to similar publicly traded securities and may be categorized as Level 2 of the fair value hierarchy to the extent that the discount is considered to be insignificant to the fair value measurement in its entirety; otherwise they may be categorized as Level 3.

Short-term investments. Short-term investments (commercial paper and repurchase agreements) are valued using market price quotations, and are reflected as Level 2 of the fair value hierarchy.

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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 total return swaps would be categorized as Level 2; otherwise the fair values would be categorized as Level 3.

U.S. and Foreign government and agency securities. U.S. and Foreign 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. Some government securities are actively traded and transparent in the marketplace. As such, they can be categorized as Level 1. Other government and agencies securities are quoted based on similar securities and yields, and therefore would be categorized as Level 2.

Certain securities held by the Funds are categorized as Level 3 investments. Their prices may be derived by utilizing unobservable prior transaction values or information from third party valuation services. The value of Level 3 investments could be significantly affected by changes in these unobservable inputs. As of March 31, 2026, Level 3 securities consist of certain asset-backed and mortgage-backed securities, bank loans, warrants, preferred stocks, common stocks and corporate bonds.

The summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Funds’ investments is listed after the Schedule of Investments for each Fund.

For the year ended March 31, 2026, a reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following tables are a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

High Yield Bond Fund	Bank Loans		Common Stock			Warrant			Total
Balance as of March 31, 2025	$	0	$	451,116		$	80		$	451,196
Accrued Discounts (Premiums)		—		—			—			—
Realized Gain (Loss)		—		58,602			63			58,665
Change in Unrealized Appreciation (Depreciation)		0		44,905			(16	)		44,889
Purchases		—		—			—			—
Sales		—		(554,623	)		(123	)		(554,746	)
Transfers into Level 3*		—		—			—			—
Transfers out of Level 3*		—		—			—			—
Balance as of March 31, 2026	$	0	$	—		$	4		$	4
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	—	$	—		$	4		$	4

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs. 

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Investment Grade Credit Fund	Asset-Backed Securities			Commercial Mortgage- Backed Securities — Non-Agency			Total
Balance as of March 31, 2025	$	28,209		$	1		$	28,210
Accrued Discounts (Premiums)		—			(620	)		(620	)
Realized Gain (Loss)		—			(18,918	)		(18,918	)
Change in Unrealized Appreciation (Depreciation)		802			19,538			20,340
Purchases		—			—			—
Sales		(2,508	)		—			(2,508	)
Transfers into Level 3*		—			—			—
Transfers out of Level 3*		—			(1	) **		(1	)
Balance as of March 31, 2026	$	26,503		$	—		$	26,503
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	802		$	—		$	802

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

** Transfers into and transfers out of Level 3 represent the values as of the end of the reporting period.

Low Duration Bond Fund	Asset-Backed Securities			Total
Balance as of March 31, 2025	$	4,795,600		$	4,795,600
Accrued Discounts (Premiums)		—			—
Realized Gain (Loss)		—			—
Change in Unrealized Appreciation (Depreciation)		136,381			136,381
Purchases		—			—
Sales		(426,447	)		(426,447	)
Transfers into Level 3*		—			—
Transfers out of Level 3*		—			—
Balance as of March 31, 2026	$	4,505,534		$	4,505,534
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	136,381		$	136,381

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

Strategic Income Fund	Asset-Backed Securities			Common Stock			Residential Mortgage-Backed Securities — Non-Agency			Rights			Total
Balance as of March 31, 2025	$	94,380		$	38,008		$	230,992		$	12,889		$	376,269
Accrued Discounts (Premiums)		—			—			43,932			—			43,932
Realized Gain (Loss)		—			3,504			(4,336	)		—			(832	)
Change in Unrealized Appreciation (Depreciation)		(2,821	)		5,217			(78,401	)		—			(76,005	)
Purchases		—			—			—			—			—
Sales		(4,704	)		(46,729	)		(175	)		(12,889	)		(64,497	)
Transfers in to Level 3 *		—			—			—			—			—
Transfers out of Level 3 *		(37,162	) **		—			(192,012	) **		—			(229,174	)
Balance as of March 31, 2026	$	49,693		$	—		$	—		$	—		$	49,693
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	1,504		$	—		$	—		$	—		$	1,504

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

** Transfers into and transfers out of Level 3 represent the values as of the end of the reporting period.

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Total Return Bond Fund	Asset-Backed Securities			Commercial Mortgage-Backed Securities — Non-Agency			Common Stock			Corporates			Residential Mortgage-Backed Securities— Non-Agency			Rights			Total
Balance as of March 31, 2025	$	67,302,488		$	215,756,296		$	37,537,840		$	2,829,949		$	5,426,713		$	9,338,794		$	338,192,080
Accrued Discounts (Premiums)		—			—			—			(20,741	)		(1,158,947	)		—			(1,179,688	)
Realized Gain (Loss)		3,182,724			—			2,477,246			(1,883	)		(1,244,372	)		(320	)		4,413,395
Change in Unrealized Appreciation (Depreciation)		(1,534,057	)		1,376,327			6,135,697			(3,690	)		2,384,002			(9,338,474	)		(980,195	)
Purchases		—			—									903.00			—			903
Sales		(34,365,854	)		(133,986,847	)		(46,150,783	)		(20,094	)		(93,778	)		—			(214,617,356	)
Transfers into Level 3 *		—			—			—			—			—			—			—
Transfers out of Level 3 *		(1,596,533	) **		(83,145,776	) **		—			(2,783,541	) **		(5,314,521	) **		—			(92,840,371	)
Balance as of March 31, 2026	$	32,988,768		$	—		$	—		$	—		$	—		$	—		$	32,988,768
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	645,602		$	—		$	—		$	—		$	(19	)	$	—		$	645,583

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

** Transfers into and out of Level 3 represent the values as of the end of the reporting period.

Unconstrained Bond Fund	Asset-Backed Securities			Commercial Mortgage-Backed Securities — Non-Agency			Common Stock			Corporates			Residential Mortgage-Backed Securities — Agency			Residential Mortgage-Backed Securities — Non-Agency			Rights			Total
Balance as of March 31, 2025	$	28,546,982		$	2,317,003		$	2,905,022		$	103,518		$	2,633,260		$	6,398		$	494,705		$	37,006,888
Accrued Discounts (Premiums)		—			—			—			31,941			(131,704	)		(2,102	)		—			(101,865	)
Realized Gain (Loss)		351,045			—			189,914			(270,288	)		—			(1,100	)		(17	)		269,554
Change in Unrealized Appreciation (Depreciation)		128,676			29,805			468,922			931,904			(41,555	)		4,639			(494,688	)		1,027,703
Purchases		17,191,918			—			—			3,675,862			—			—			—			20,867,780
Sales		(11,869,795	)		(2,346,808	)		(3,560,781	)		(785,945	)		(317,488	)		—			—			(18,880,817	)
Transfers into Level 3 *		1			—			—			—			—			—			—			1
Transfers out of Level 3 *		(5,536,944	) **		—			(3,077	) **		(42,193	) **		(2,142,513	) **		(7,835	) **		—			(7,732,562	)
Balance as of March 31, 2026	$	28,811,883		$	—		$	—		$	3,644,799		$	—		$	—		$	—		$	32,456,682
Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2026	$	206,513		$	—		$	—		$	(6,572	)	$	—		$	—		$	—		$	199,941

* Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

** Transfers into and out of Level 3 represent the values as of the end of the reporting period.

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2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Significant unobservable valuations inputs for Level 3 investments as of March 31, 2026 are as follows:

	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
High Yield Bond Fund
Bank Loans	$	0		Fair Value		Broker Pricing	$	0.000	$	0.000		Increase
Warrants	$	4		Fair Value		Broker Pricing	$	0.000	$	0.000		Increase
	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Investment Grade Credit Fund
Asset-Backed Securities	$	26,503		Broker Quote		Offered Quote	$	94.492	$	94.492		Increase
	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Low Duration Bond Fund
Asset-Backed Securities	$	4,505,534		Broker Quote		Offered Quote	$	94.492	$	94.492		Increase
	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Strategic Income Fund
Asset-Backed Securities	$	49,693		Broker Quote		Offered Quote	$	94.492	$	94.492		Increase
	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Total Return Bond Fund
Asset-Backed Securities	$	32,988,768		Broker Quote		Offered Quote	$	94.492 - $100.000	$	97.246		Increase
Residential Mortgage-Backed Securities — Non-Agency	$	0		Fair Value		Zero Market Value	$	0.000	$	0.000		Increase
	Fair Value at 3/31/2026		Valuation Techniques		Unobservable Input		Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Unconstrained Bond Fund
Asset-Backed Securities	$	22,211,882		Broker Quote		Offered Quote	$	94.492 - $100.000	$	98.898		Increase
Asset-Backed Securities	$	1		Fair Value		Zero Market Value	$	0.000	$	0.000		Increase
Asset-Backed Securities	$	6,600,000		Broker Quote		Offered Quote	$	100.000	$	100.000		Increase
Corporate Bonds	$	3,644,799		Broker Quote		Offered Quote	$	100.000	$	100.000		Increase

190

TCW Metropolitan West Funds

March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Derivative Instruments Categorized by Risk Exposure:

For the period ended March 31, 2026, the following Funds had derivatives and transactions in derivatives, grouped in the following risk categories:

High Yield Bond Fund

	Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—		$	493,748		$	493,748
Forward Currency Exchange Contracts (4)		242,070			—			242,070
Total Value	$	242,070		$	493,748		$	735,818
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	(3,211	)	$	—		$	(3,211	)
Total Value	$	(3,211	)	$	—		$	(3,211	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	(1,150,018	)	$	—		$	(1,150,018	)
Futures Contracts		—			490,329			490,329
Net Realized Gain (Loss)	$	(1,150,018	)	$	490,329		$	(659,689	)
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	833,160		$	—		$	833,160
Futures Contracts		—			(62,585	)		(62,585	)
Net Change in Appreciation (Depreciation)	$	833,160		$	(62,585	)	$	770,575
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		12,722,214			—			12,722,214
Futures Contracts		—			298			298
Investment Grade Credit Fund
	Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—		$	73,515		$	73,515
Forward Currency Exchange Contracts (4)		11,512			—			11,512
Total Value	$	11,512		$	73,515		$	85,027
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	(7,977	)	$	—		$	(7,977	)
Futures Contracts (1)		—			(65,902	)		(65,902	)
Total Value	$	(7,977	)	$	(65,902	)	$	(73,879	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	(79,496	)	$	—		$	(79,496	)
Futures Contracts		—			(9,371	)		(9,371	)
Swaptions Purchased		—			(15,424	)		(15,424	)
Net Realized Gain (Loss)	$	(79,496	)	$	(24,795	)	$	(104,291	)

191

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

	Foreign Currency Risk		Interest Rate Risk		Total
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	38,106	$	—	$	38,106
Futures Contracts		—		7,159		7,159
Swaptions Purchased (2)		—		6,562		6,562
Net Change in Appreciation (Depreciation)	$	38,106	$	13,721	$	51,827
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		940,931		—		940,931
Swaptions Purchased		—		4,651,364		4,651,364
Futures Contracts		—		92		92

Low Duration Bond Fund
	Credit Risk			Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—		$	—		$	2,143,032		$	2,143,032
Forward Currency Exchange Contracts (4)		—			550,765			—			550,765
Total Value	$	—		$	550,765		$	2,143,032		$	2,693,797
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—		$	(107,604	)	$	—		$	(107,604	)
Swap Agreements		(90,087	)		—			(205,824	)		(295,911	)
Futures Contracts (1)		—			—			(4,065,534	)		(4,065,534	)
Total Value	$	(90,087	)	$	(107,604	)	$	(4,271,358	)	$	(4,469,049	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—		$	(919,001	)	$	—		$	(919,001	)
Futures Contracts		—			—			(2,966,420	)		(2,966,420	)
Swaptions Purchased		—			—			(530,648	)		(530,648	)
Swap Agreements		—			—			(13,468	)		(13,468	)
Net Realized Gain (Loss)	$	—		$	(919,001	)	$	(3,510,536	)	$	(4,429,537	)
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—		$	788,611		$	—		$	788,611
Futures Contracts		—			—			(1,564,649	)		(1,564,649	)
Swaptions Purchased (2)		—			—			223,718			223,718
Swap Agreements		(5,747	)		—			(72,742	)		(78,489	)
Net Change in Appreciation (Depreciation)	$	(5,747	)	$	788,611		$	(1,413,673	)	$	(630,809	)
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—			18,649,075			—			18,649,075
Swaptions Purchased		—			—			159,356,364			159,356,364
Futures Contracts		—			—			4,841			4,841
Swap Agreements		187,917			—			3,404,332			3,592,249

192

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March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Strategic Income Fund
	Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—	$	—		$	145,371		$	145,371
Forward Currency Exchange Contracts (4)		—		40,842			—			40,842
Total Value	$	—	$	40,842		$	145,371		$	186,213
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—	$	(23,140	)	$	—		$	(23,140	)
Swap Agreements		—		—			(19,622	)		(19,622	)
Futures Contracts (1)		—		—			(53,169	)		(53,169	)
Total Value	$	—	$	(23,140	)	$	(72,791	)	$	(95,931	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—	$	(157,855	)	$	—		$	(157,855	)
Futures Contracts		—		—			138,349			138,349
Swap Agreements		—		—			(360	)		(360	)
Net Realized Gain (Loss)	$	—	$	(157,855	)	$	137,989		$	(19,866	)
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—	$	85,969		$	—		$	85,969
Futures Contracts		—		—			57,943			57,943
Swap Agreements		—		—			(3,614	)		(3,614	)
Net Change in Appreciation (Depreciation)	$	—	$	85,969		$	54,329		$	140,298
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—		2,192,596			—			2,192,596
Futures Contracts		—		—			79			79
Swap Agreements		—		—			324,510			324,510
Sustainable Securitized Fund
		Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—	$	—		$	9,926		$	9,926
Forward Currency Exchange Contracts (4)		—		22,758			—			22,758
Total Value	$	—	$	22,758		$	9,926		$	32,684
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—	$	(10,151	)	$	—		$	(10,151	)
Futures Contracts (1)		—		—			(96,026	)		(96,026	)
Total Value	$	—	$	(10,151	)	$	(96,026	)	$	(106,177	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—	$	(14,582	)	$	—		$	(14,582	)
Futures Contracts		—		—			130,374			130,374
Net Realized Gain (Loss)	$	—	$	(14,582	)	$	130,374		$	115,792

193

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

	Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—	$	19,453			—		$	19,453
Futures Contracts		—		—			(169,601	)		(169,601	)
Net Change in Appreciation (Depreciation)	$	—	$	19,453		$	(169,601	)	$	(150,148	)
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—		694,322			—			694,322
Futures Contracts		—		—			50			50
Total Return Bond Fund
		Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—	$	—		$	15,198,793		$	15,198,793
Forward Currency Exchange Contracts (4)		—		24,564,221			—			24,564,221
Total Value	$	—	$	24,564,221		$	15,198,793		$	39,763,014
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—	$	(13,686,459	)	$	—		$	(13,686,459	)
Swap Agreements		—		—			(6,773,308	)		(6,773,308	)
Futures Contracts (1)		—		—			(76,997,843	)		(76,997,843	)
Total Value	$	—	$	(13,686,459	)	$	(83,771,151	)	$	(97,457,610	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—	$	(105,263,176	)	$	—		$	(105,263,176	)
Futures Contracts		—		—			144,575,854			144,575,854
Swaptions Purchased		—		—			(18,146,447	)		(18,146,447	)
Swap Agreements		—		—			82,074			82,074
Net Realized Gain (Loss)	$	—	$	(105,263,176	)	$	126,511,481		$	21,248,305
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—	$	54,957,697		$	—		$	54,957,697
Futures Contracts		—		—			(133,037,449	)		(133,037,449	)
Swaptions Purchased (2)		—		—			8,717,767			8,717,767
Swap Agreements		—		—			(2,330,604	)		(2,330,604	)
Net Change in Appreciation (Depreciation)	$	—	$	54,957,697		$	(126,650,286	)	$	(71,692,589	)
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—		1,571,718,572			—			1,571,718,572
Swaptions Purchased		—		—			5,780,407,273			5,780,407,273
Futures Contracts		—		—			66,725			66,725
Swap Agreements		—		—			112,030,318			112,030,318

194

TCW Metropolitan West Funds

March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Ultra Short Bond Fund
	Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—	$	—		$	78,333		$	78,333
Forward Currency Exchange Contracts (4)		—		7,363			—			7,363
Total Value	$	—	$	7,363		$	78,333		$	85,696
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—	$	(3,401	)	$	—		$	(3,401	)
Swap Agreements		—		—			(8,850	)		(8,850	)
Futures Contracts (1)		—		—			(52,301	)		(52,301	)
Total Value	$	—	$	(3,401	)	$	(61,151	)	$	(64,552	)
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—	$	(16,611	)	$	—		$	(16,611	)
Futures Contracts		—		—			(130,271	)		(130,271	)
Swaptions Purchased		—		—			(26,664	)		(26,664	)
Swap Agreements		—		—			(567	)		(567	)
Net Realized Gain (Loss)	$	—	$	(16,611	)	$	(157,502	)	$	(174,113	)
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—	$	9,549		$	—		$	9,549
Futures Contracts		—		—			79,424			79,424
Swaptions Purchased (2)		—		—			11,258			11,258
Swap Agreements		—		—			(3,119	)		(3,119	)
Net Change in Appreciation (Depreciation)	$	—	$	9,549		$	87,563		$	97,112
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—		210,778			—			210,778
Swaptions Purchased		—		—			7,916,818			7,916,818
Futures Contracts		—		—			123			123
Swap Agreements		—		—			146,376			146,376
Unconstrained Bond Fund
		Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts (1)	$	—	$	—		$	9,885,670		$	9,885,670
Forward Currency Exchange Contracts (4)		—		2,778,975			—			2,778,975
Total Value	$	—	$	2,778,975		$	9,885,670		$	12,664,645
Liability Derivatives
Forward Currency Exchange Contracts (4)	$	—	$	(1,089,482	)	$	—		$	(1,089,482	)
Swap Agreements		—		—			(953,693	)		(953,693	)
Futures Contracts (1)		—		—			(4,038,400	)		(4,038,400	)
Total Value	$	—	$	(1,089,482	)	$	(4,992,093	)	$	(6,081,575	)

195

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

	Credit Risk		Foreign Currency Risk			Interest Rate Risk			Total
Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	—	$	(8,338,841	)	$	—		$	(8,338,841	)
Futures Contracts		—		—			3,297,652			3,297,652
Swap Agreements		—		—			(19,855	)		(19,855	)
Net Realized Gain (Loss)	$	—	$	(8,338,841	)	$	3,277,797		$	(5,061,044	)
Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	—	$	4,992,210		$	—		$	4,992,210
Futures Contracts		—		—			4,761,227			4,761,227
Swap Agreements		—		—			(167,438	)		(167,438	)
Net Change in Appreciation (Depreciation)	$	—	$	4,992,210		$	4,593,789		$	9,585,999
Number of Contracts, Notional Amounts or Shares/Units (3)
Forward Currency Exchange Contracts		—		155,195,923			—			155,195,923
Futures Contracts		—		—			6,357			6,357
Swap Agreements		—		—			15,774,061			15,774,061

(1) Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedules of Investments. Only variation margin on March 31, 2026 is reported within the Statement of Assets and Liabilities.

(2) Represents change in unrealized appreciation (depreciation) for purchased swaptions during the year.

(3) Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the year ended March 31, 2026.

(4) Unrealized appreciation (depreciation) on open forward foreign currency contracts as reported in the Statements of Assets and Liabilities for the year ended March 31, 2026.

Counterparty Credit Risk:

A derivative contract may suffer 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. Losses can also occur if the counterparty does not perform under the contract.

A Fund’s risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by such Fund. For OTC options purchased, each Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by such Fund should the counterparty fail to perform under the contracts. Options written by the Funds do not typically give rise to counterparty credit risk, as options written generally obligate the Funds to perform, and not the counterparty.

With exchange-traded purchased options and futures and centrally cleared swaps, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency) of the clearing broker or clearinghouse. Additionally, credit risk exists in exchange-traded futures and centrally cleared swaps with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that

196

TCW Metropolitan West Funds

March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.

In order to better define its contractual rights and to secure rights that will help the Funds mitigate their counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between each Fund and a counterparty that governs OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, each Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. In addition, certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event a Fund’s net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Fund to accelerate payment of any net liability owed to the counterparty.

Collateral requirements:

For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty.

Cash collateral that has been pledged to cover obligations of a Fund, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Portfolio Investments. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold typically of $250,000 or $500,000 before a transfer is required, which is determined at the close of business of the Fund, and additional required collateral is delivered to/pledged by the Fund on the next business day. Typically, the Funds and counterparties are not permitted to sell, repledge or use the collateral they receive. To the extent amounts due to a Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance. Each Fund attempts to mitigate counterparty risk by entering into agreements only with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities.

The Funds have implemented the disclosure requirements pursuant to FASB Accounting Standards update No. 2011-11, Disclosures about Offsetting Assets and Liabilities that requires disclosures to make financial statements that are prepared under U.S. GAAP more comparable to those prepared

197

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

under International Financial Reporting Standards. Under this guidance the Funds disclose in the Statements of Assets and Liabilities both gross and net information about instruments and transactions eligible for offset such as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the Funds disclose collateral received and posted in connection with master netting agreements or similar arrangements.

The following tables present each Fund’s OTC derivative assets and liabilities by counterparty net of amounts available for offset under an ISDA Master Agreement or similar agreement and net of the related collateral received or pledged by each Fund as of March 31, 2026:

High Yield Bond Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	179,693	$	—	$	—		$	179,693
Bank of New York
Foreign Currency Exchange Contracts		17,652		—		(407	)		17,245
Citibank N.A.
Foreign Currency Exchange Contracts		33,287		—		(290	)		32,997
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		4,520		—		(2,514	)		2,006
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		6,918		—		—			6,918
Total	$	242,070	$	—	$	(3,211	)	$	238,859
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of New York
Foreign Currency Exchange Contracts	$	407	$	—	$	(407	)	$	—
Citibank N.A.
Foreign Currency Exchange Contracts		290		—		(290	)		—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		2,514		—		(2,514	)		—
Total	$	3,211	$	—	$	(3,211	)	$	—

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

198

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March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investment Grade Credit Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	10,102	$	—	$	(5,905	)	$	4,197
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		20		—		(20	)		—
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		1,390		—		(1,390	)		—
Total	$	11,512	$	—	$	(7,315	)	$	4,197
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of America
Foreign Currency Exchange Contracts	$	5,905	$	—	$	(5,905	)	$	—
Citibank N.A.
Foreign Currency Exchange Contracts		249		—		—			249
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		276		—		(20	)		256
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		1,547		—		(1,390	)		157
Total	$	7,977	$	—	$	(7,315	)	$	662

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

199

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Low Duration Bond Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	136,219	$	—	$	—		$	136,219
Bank of New York
Foreign Currency Exchange Contracts		117,286		—		—			117,286
Barclays Capital
Foreign Currency Exchange Contracts		30,038		—		—			30,038
Citibank N.A.
Foreign Currency Exchange Contracts		107,726		—		(105,258	)		2,468
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		20,663		—		(2,346	)		18,317
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		138,833		—		—			138,833
Total	$	550,765	$	—	$	(107,604	)	$	443,161
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Citibank N.A.
Foreign Currency Exchange Contracts	$	105,258	$	—	$	(105,258	)	$	—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		2,346		—		(2,346	)		—
Goldman Sachs International
Credit Default Swaps		90,087		—		—			90,087
Total	$	197,691	$	—	$	(107,604	)	$	90,087

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

200

TCW Metropolitan West Funds

March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Strategic Income Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	13,828	$	—	$	(502	)	$	13,326
Citibank N.A.
Foreign Currency Exchange Contracts		10,058		—		(8,683	)		1,375
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		22		—		(22	)		—
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		16,934		—		(10,629	)		6,305
Total	$	40,842	$	—	$	(19,836	)	$	21,006
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of America
Foreign Currency Exchange Contracts	$	502	$	—	$	(502	)	$	—
Citibank N.A.
Foreign Currency Exchange Contracts		8,683		—		(8,683	)		—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		3,326		—		(22	)		3,304
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		10,629		—		(10,629	)		—
Total	$	23,140	$	—	$	(19,836	)	$	3,304

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

201

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Sustainable Securitized Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	2,503	$	—	$	—		$	2,503
Bank of New York
Foreign Currency Exchange Contracts		13,604		—		(3,511	)		10,093
Citibank N.A.
Foreign Currency Exchange Contracts		6,636		—		(6,636	)		—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		15		—		—			15
Total	$	22,758	$	—	$	(10,147	)	$	12,611
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of New York
Foreign Currency Exchange Contracts	$	3,511	$	—	$	(3,511	)	$	—
Citibank N.A.
Foreign Currency Exchange Contracts		6,640		—		(6,636	)		4
Total	$	10,151	$	—	$	(10,147	)	$	4

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

202

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March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Total Return Bond Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)			Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	224,018	$	—		$	(224,018	)	$	—
Bank of New York
Foreign Currency Exchange Contracts		69,122		—			(31,779	)		37,343
Citibank N.A.
Foreign Currency Exchange Contracts		11,528,911		(393,526	)		(8,267,901	)		2,867,484
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		1,326,058		(450,000	)		(618,694	)		257,364
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		11,395,039		—			(998,706	)		10,396,333
Morgan Stanley Bank N.A.
Foreign Currency Exchange Contracts		21,073		(21,073	)		—			—
Total	$	24,564,221	$	(864,599	)	$	(10,141,098	)	$	13,558,524
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)			Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of America
Foreign Currency Exchange Contracts	$	3,769,379	$	(3,545,361	)	$	(224,018	)	$	—
Bank of New York
Foreign Currency Exchange Contracts		31,779		—			(31,779	)		—
Citibank N.A.
Foreign Currency Exchange Contracts		8,267,901		—			(8,267,901	)		—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		618,694		—			(618,694	)		—
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		998,706		—			(998,706	)		—
Total	$	13,686,459	$	(3,545,361	)	$	(10,141,098	)	$	—

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

203

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Ultra Short Bond Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	1,209	$	—	$	(167	)	$	1,042
Barclays Capital
Foreign Currency Exchange Contracts		113		—		—			113
Citibank N.A.
Foreign Currency Exchange Contracts		2,504		—		(2,504	)		—
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		2		—		(2	)		—
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		3,535		—		—			3,535
Total	$	7,363	$	—	$	(2,673	)	$	4,690
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)		Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of America
Foreign Currency Exchange Contracts	$	167	$	—	$	(167	)	$	—
Citibank N.A.
Foreign Currency Exchange Contracts		2,539		—		(2,504	)		35
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		695		—		(2	)		693
Total	$	3,401	$	—	$	(2,673	)	$	728

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

204

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March 31, 2026

2. SIGNIFICANT ACCOUNTING POLICIES (Continued)

Unconstrained Bond Fund

Counterparty	Gross Assets Subject to Master Agreements		Collateral Received(1)			Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets(2)
Bank of America
Foreign Currency Exchange Contracts	$	9,481	$	—		$	(9,481	)	$	—
Bank of New York
Foreign Currency Exchange Contracts		377,657		(330,000	)		—			47,657
Barclays Capital
Foreign Currency Exchange Contracts		42,764		—			(25,962	)		16,802
Citibank N.A.
Foreign Currency Exchange Contracts		658,527		—			(455,257	)		203,270
Goldman Sachs & Co.
Foreign Currency Exchange Contracts		128,998		—			—			128,998
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		1,561,548		—			(503,373	)		1,058,175
Total	$	2,778,975	$	(330,000	)	$	(994,073	)	$	1,454,902
Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged(1)			Derivatives (Assets)/ Liabilities Available for Offset			Net Amount of Liabilities(3)
Bank of America
Foreign Currency Exchange Contracts	$	104,890	$	—		$	(9,481	)	$	95,409
Barclays Capital
Foreign Currency Exchange Contracts		25,962		—			(25,962	)		—
Citibank N.A.
Foreign Currency Exchange Contracts		455,257		—			(455,257	)		—
JP Morgan Chase Bank
Foreign Currency Exchange Contracts		503,373		—			(503,373	)		—
Total	$	1,089,482	$	—		$	(994,073	)	$	95,409

⁽¹⁾  Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾  Represents the net amount receivable from the counterparty in the event of default.

⁽³⁾  Represents the net amount payable to the counterparty in the event of default.

3. PORTFOLIO INVESTMENTS

The Funds may enter into mortgage dollar roll transactions with financial institutions to take advantage of opportunities in the MBS market. A mortgage 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. Mortgage 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 year ended March 31, 2026. The Fund did, however, enter into TBA transactions, including TBA dollar rolls. TBA securities are forward commitments to purchase or sell mortgage-backed securities

205

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

3. PORTFOLIO INVESTMENTS (Continued)

for a fixed price, with the specific securities to be delivered determined at a later date. In TBA dollar roll transactions, the Fund sells a TBA security for current settlement and simultaneously enters into a commitment to purchase a substantially similar TBA security for a future settlement date. Unlike mortgage dollar rolls involving specified MBS, TBA dollar rolls do not involve the sale and repurchase of the same security, but rather the rolling of forward commitments with similar characteristics (such as issuer, coupon, and maturity). Accordingly, these transactions are not considered financing transactions involving identified securities and are accounted for as purchase and sale transactions. Any gain or loss generated from TBA dollar roll transactions is recognized as part of the Fund’s investment operations and is reflected in the Statement of Operations.

The Funds may invest in mortgage pass-through securities 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 invest in securities issued by the Federal National Mortgage Association (“FNMA”) and the Federal Home Loan Mortgage Corp. (“FHLMC”). These are fixed-income securities that derive their value from or represent interests in a pool of mortgages or mortgage securities. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of a mortgage-backed security and could result in losses to the Funds. The risk of such defaults is generally higher in the case of mortgage pools that include sub-prime mortgages. Sub-prime mortgages refer to loans made to borrowers with weakened credit histories or with a lower capacity to make timely payments on their mortgages.

Additionally, securities issued by FNMA and FHLMC are not backed by or entitled to the full faith and credit of the United States and are supported by the right to the issuer to borrow from the Treasury.

On September 7, 2008, the Federal Housing Finance Agency was appointed as conservator of FNMA and FHLMC. In addition, the U.S. Department of the Treasury has agreed to provide capital as needed to ensure FNMA and FHLMC continue to provide liquidity to the housing and mortgage markets.

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 the Government National Mortgage Association (“GNMA”), FHLMC, or FNMA. 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.

206

TCW Metropolitan West Funds

March 31, 2026

3. PORTFOLIO INVESTMENTS (Continued)

The Funds may enter into to be announced (“TBA”) commitments to purchase or sell securities for a fixed price at a future date. TBA commitments are considered securities in themselves, and involve a risk of loss if the value of the security to be purchased or sold declines or increases prior to settlement date, which is in addition to the risk of decline in the value of the Funds’ other assets. Unsettled TBA commitments are valued at the current market value of the underlying securities, according to the procedures described in Note 2 under “Security Valuation”.

The Funds may invest in Collateralized Bond Obligations (“CBOs”), Collateralized Loan Obligations (“CLOs”) and other Collateralized Debt Obligations (“CDOs”), which are debt instruments backed solely by a pool of other debt securities. The risks of an investment in a CBO, CLO or other CDO depend largely on the type of the collateral securities and the class of the CBO, CLO or other CDO in which a Fund invests. Some CBOs, CLOs and other CDOs have credit ratings, but are typically issued in various classes with various priorities. Normally, CBOs, CLOs and other CDOs are privately offered and sold (that is, not registered under the securities laws) and may be characterized by the Funds as illiquid securities, but an active dealer market may exist for CBOs, CLOs and other CDOs that qualify for Rule 144A transactions. In addition to the normal interest rate, default and other risks of fixed income securities, CBOs, CLOs and other CDOs carry additional risks, including the possibility that distributions from collateral securities will not be adequate to make interest or other payments, the quality of the collateral may decline in value or default, the Funds may invest in CBOs, CLOs and other CDOs that are subordinate to other classes, there may be volatility in value, and the complex structure of the security may not be fully understood at the time of investment and produce disputes with the issuer or unexpected investment results.

The Funds may invest in stripped mortgage-backed securities issued by the U.S. government, its agencies and instrumentalities. Stripped mortgage-backed securities 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). During the year ended March 31, 2026, certain interest-only securities were held as part of the overall mortgage portfolio holdings. 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. Such securities will be considered liquid only if so determined in accordance with guidelines approved by the Board. The Funds also may invest in stripped mortgage-backed securities that are privately issued. These securities will be considered illiquid for purposes of each Fund’s limit on illiquid securities.

The Funds may purchase participations in commercial loans, or may purchase assignments of such loans. Such indebtedness may be secured or unsecured. Loan participations typically represent direct participation in a loan to a corporate borrower, and generally are offered by banks or other financial institutions or lending syndicates. The Funds may participate in such syndications, or can buy part of a loan, becoming a part lender. When purchasing loan participations, a Fund assumes the credit risk associated with the corporate borrower and may assume the credit risk associated with an interposed bank or other financial intermediary. The participation interests in which a Fund intends to

207

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

3. PORTFOLIO INVESTMENTS (Continued)

invest may not be rated by any nationally recognized rating service. Participations and assignments also involve special types of risk, including interest rate risk, liquidity risk, and the risk of being a lender. If a Fund purchases a participation, it may only be able to enforce its rights through the lender, and may assume the credit risk of the lender in addition to the borrower.

The Funds may also sell a debt or equity security short, that is, without owning it, and borrow the same security from a broker or other institution to complete the sale. The Adviser may use short sales when it believes a security is overvalued or as a partial hedge against a position in a related security of the same issuer held by a Fund. The High Yield Bond Fund, Investment Grade Credit Fund, Strategic Income Fund and Sustainable Securitized Fund may not make short sales of securities or maintain a short position if more than 33 1/3% of the Fund’s total assets (taken at current value) are held as collateral for such sales at any one time. The Low Duration Bond Fund, Total Return Bond Fund, Ultra Short Bond Fund and Unconstrained Bond Fund will not make total short sales exceeding 25% of the Fund’s total assets. If the value of the security sold short increases, a Fund would lose money because it would need to replace the borrowed security by purchasing it at a higher price. The potential loss is unlimited. (If the short sale was intended as a hedge against another investment, the loss on the short sale may be fully or partially offset by gains in that other investment). At March 31, 2026, the Funds did not hold any short debt or equity.

A lender may request that the borrowed securities be returned on short notice; if that occurs at a time when other short sellers of the subject security are receiving similar requests, a “short squeeze” can occur. This means that the Funds might be compelled, at the most disadvantageous time, to replace borrowed securities previously sold short, with purchases on the open market at prices significantly greater than those at which the securities were sold short. Short selling also may produce higher than normal portfolio turnover and result in increased transaction costs to the Funds. The Funds also may make short sales “against-the-box”, in which the Funds sell short securities they own. The Funds will incur transaction costs, including interest expenses, in connection with opening, maintaining and closing short sales against-the-box, which result in a “constructive sale”, requiring the Fund to recognize any taxable gain from the transaction.

The Funds may invest in payment-in-kind securities (“PIKs”). PIKs give the issuer the option at each interest payment date of making interest payments in either cash or additional debt securities. Those additional debt securities usually have the same terms, including maturity dates and interest rates, and associated risks as the original bonds. The daily market quotations of the original bonds may include the accrued interest (referred to as a dirty price) and require a pro-rata adjustment from the unrealized appreciation or depreciation on investments to interest receivable on the Statements of Assets and Liabilities.

For the year ended March 31, 2026, the High Yield Bond Fund, the Low Duration Bond Fund, the Strategic Income Fund and the Total Return Bond Fund received in-kind payments with respect to PIK securities of $916,862, $96,831, $7,700 and $5,222,631, respectively.

The Funds may invest in repurchase agreements. 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. On a daily basis, the counterparty is required to maintain collateral subject to the agreement and in value no less than the agreed repurchase amount. The agreements are conditioned upon the collateral being deposited under the Federal Reserve book entry system or

208

TCW Metropolitan West Funds

March 31, 2026

3. PORTFOLIO INVESTMENTS (Continued)

held in a segregated account by the Funds’ custodian or designated sub-custodians under tri-party repurchase agreements. In the event the counterparty defaults and the fair value of the collateral declines, the Funds could experience losses, delays and costs in liquidating the collateral.

Master Repurchase Agreements (“MRAs”) permit 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 an MRA counterparty’s 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 to be received by each Fund upon the maturity of the repurchase transaction. Upon a bankruptcy or insolvency of the MRA counterparty, each Fund recognizes a liability with respect to such excess collateral to reflect each Fund’s obligation under bankruptcy law to return the excess to the counterparty. As of March 31, 2026, the Funds did not hold any repurchase agreements.

The Funds may enter into reverse repurchase agreements, whereby a Fund sells securities concurrently with entering into an agreement to repurchase those securities at a later date at a fixed price. During the reverse repurchase agreement period, the Fund continues to receive principal and interest payments on those securities. Reverse repurchase agreements are speculative techniques involving leverage and are considered secured borrowings by the Fund for purposes of the percentage limitations applicable to borrowings in accordance with ASC 860, Transfers and Servicing. Securities sold under reverse repurchase agreements are recorded as a liability. Interest payments made are recorded as a component of interest expense. In periods of increased demand for the security, a Fund may receive a fee for use of the security by the counterparty, which may result in interest income to the Fund. A reverse repurchase agreement involves the risk that the market value of the security sold by a Fund may decline below the repurchase price of the security. A Fund will segregate assets determined to be liquid by the manager or otherwise cover its obligations under reverse repurchase agreements.

Reverse repurchase transactions and treasury roll transactions are entered into by a Fund under MRAs. With reverse repurchase transactions and treasury roll transactions, typically the Funds and the counterparties are not permitted to sell, re-pledge, or use the collateral associated with the transaction. Pursuant to the terms of the MRA, a Fund receives or posts securities as collateral with a market value in excess of the repurchase price to be paid or received by a Fund upon the maturity of the transaction. Upon a bankruptcy or insolvency of the MRA counterparty, a Fund is considered an unsecured creditor with respect to excess collateral and, as such, the return of excess collateral may be delayed. As of March 31, 2026, the Funds did not hold any reverse repurchase agreements.

In the event the counterparty of securities under an MRA files for bankruptcy or becomes insolvent, a Fund’s use of the proceeds from the agreement may be restricted while the counterparty, or its trustee or receiver, determines whether or not to enforce a Fund’s obligation to repurchase the securities.

Each 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 in order to adjust the interest rate exposure of the Fund’s existing portfolio. In when-issued, delayed-delivery, or forward commitment

209

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

3. PORTFOLIO INVESTMENTS (Continued)

transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. Although a 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 Fund’s counterparty fails to deliver a security purchased on a when-issued, delayed-delivery, or forward commitment basis, there may be a loss, and that 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, reflecting interest rate changes. In addition, because a 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 a Fund does not maintain liquid assets equal to the face amount of the contract. The Funds segregate assets (cash and/or securities) to cover the amounts outstanding related to these transactions.

Derivatives:

The Funds may engage in various portfolio investment strategies both to increase the return of the Funds and to economically hedge, or protect, their exposure to interest rate movements and movements in the securities markets. Losses may arise if the value of the contract decreases due to an unfavorable change in the price of the underlying security or if the counterparty does not perform under the contract. The Funds are subject to credit risk, equity price risk and interest rate risk in the normal course of pursuing their investment objectives by investing in various derivative financial instruments, as described below:

Over the reporting period, the Funds engaged in interest rate futures contracts, foreign currency exchange contracts, swap agreements and swaptions as a means of managing interest rate risk and yield curve positioning consistent with the Adviser’s current market perspectives. Additionally, credit default swaps were held for the purposes of (1) hedging valuation risks specific to identified market segments, industries and credits and (2) efficiently gaining income-bearing exposures to selected market segments, industries and credits. The market value of these instruments, realized and changes in unrealized gains and losses, and the types of contracts are included in the Schedule of Portfolio Investments and the Notes to Financial Statements.

Options — The Funds may purchase and write call and put options on securities, securities indices and on foreign currencies. A Fund may purchase put options on securities to seek to protect holdings in an underlying or related security against a substantial decline in market value. A Fund may purchase call options on securities to seek to protect against substantial increases in prices of securities the Fund intends to purchase pending its ability to invest in such securities in an orderly manner. The Fund pays a premium which is included as an asset on the Statements of Assets and Liabilities and subsequently marked-to-market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. A Fund may write a call or put option only if the option is covered by the Fund holding a position in the underlying securities or by other means which would permit immediate satisfaction of the Fund’s obligation as writer of the option. When the Fund writes a call or put, an amount equal to the premium received is recorded as a liability and subsequently marked-to-market to reflect the current value of the option written.

These liabilities are included on the Statements of Assets and Liabilities. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the

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3. PORTFOLIO INVESTMENTS (Continued)

underlying futures, swap, security or currency transaction to determine the realized gain (loss). The purchase and writing of options involves certain risks. During the option period, the covered call writer has, in return for the premium on the option, given up the opportunity to profit from a price increase in the underlying securities above the sum of the premium and exercise price, but as long as its obligation as a writer continues, has retained the risk of loss should the price of the underlying securities decline. The writer of an option has no control over the time when it may be required to fulfill its obligation as a writer of the option. Once an option writer has received an exercise notice, it cannot effect a closing purchase transaction in order to terminate its obligation under the option and must deliver the underlying securities at the exercise price. If a put or call option purchased by the Fund is not sold when it has remaining value, and if the market price of the underlying security, in the case of a put, remains equal to or greater than the exercise price or, in the case of a call, remains less than or equal to the exercise price, the Fund will lose its entire investment in the option. There can be no assurance that a liquid market will exist when a Fund seeks to close out an option position. Furthermore, if trading restrictions or suspensions are imposed on the options markets, a Fund may be unable to close out a position.

The Funds may execute transactions in both listed and over-the-counter options. Listed options involve minimal counterparty risk since listed options are guaranteed against default by the exchange on which they trade. Transactions in certain over-the-counter options may expose the Funds to the risk of default by the counterparty to the transaction. In the event of default by the counterparty to the over-the-counter option transaction, a Fund’s maximum amount of loss is the premium paid (as purchaser) or the unrealized loss of the contract (as writer). As of March 31, 2026, the Funds did not hold any options.

Futures — The Funds purchased or sold exchange-traded futures contracts, which are contracts that obligate the Funds to make or take delivery of a financial instrument or the cash value of a security index at a specified future date at a specified price. The Funds may use futures contracts to manage exposure to the stock and bond markets or changes in interest rates and currency values, or for gaining exposure to markets. Risks of entering into futures contracts include the possibility that there may be an illiquid market at the time the Adviser to the Fund may be attempting to sell some or all of the Fund holdings or that a change in the value of the contract may not correlate with changes in the value of the underlying securities. Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin). Subsequent payments (variation margin) are made or received by the Fund, generally on a daily basis. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains or losses. The Funds recognize a realized gain or loss when the contract is closed or expires.

Futures transactions involve minimal counterparty risk since futures contracts are guaranteed against default by the exchange on which they trade.

Foreign Currency — The Funds may hold foreign currency as an economic hedge against either specific transactions or portfolio instruments or to obtain exposure to foreign currencies (foreign currency exchange rate risk).

Foreign Currency Exchange Contracts — The Funds entered into foreign currency exchange contracts as an economic hedge against either specific transactions or portfolio instruments or to obtain exposure to foreign currencies (foreign currency exchange rate risk). A foreign currency

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3. PORTFOLIO INVESTMENTS (Continued)

exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a future date. Foreign currency exchange contracts, when used by a Fund, help to manage the overall exposure to the currencies in which some of the investments held by a Fund are denominated. The contract is marked-to-market daily and the change in market value is recorded by a Fund as an unrealized gain or loss. When the contract is closed, a Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The use of foreign currency exchange contracts involves the risk that the value of a foreign currency exchange contract changes unfavorably due to movements in the value of the referenced foreign currencies and the risk that a counterparty to the contract does not perform its obligations under the agreement.

Swaps — The Funds invested in swap agreements. Swap agreements are two-party contracts entered into primarily by institutional investors for periods ranging from a few weeks to more than a year. In a standard swap transaction, two parties agree to exchange the returns earned on specific assets, such as the return on, or increase in value of, a particular dollar amount invested at a particular interest rate, in a particular foreign currency, or in a basket of securities representing a particular index. A swap contract may not be assigned without the consent of the counterparty (and in certain circumstances may not be assignable), and may result in losses in the event of a default or bankruptcy of the counterparty.

The Funds entered into credit default swap agreements to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund owns or has exposure to the referenced obligation) or to take an active long or short position with respect to the likelihood of a particular issuer’s default. The buyer in a credit default contract is obligated to pay the seller a periodic stream of payments over the term of the contract provided no event of default has occurred. In the event of default, the seller must pay the buyer the par value (full notional value) of the reference obligation in exchange for the reference obligation. The Funds may be either the buyer or seller in such transactions. If a Fund is a buyer and no event of default occurs, the Fund loses its investment and recovers nothing. However, if an event of default occurs, the buyer receives full notional value for a reference obligation that may have little or no value. As a seller of a credit default swap, the Fund receives a fixed rate of income throughout the term of the contract, provided there is no default event. If an event of default occurs, the seller may pay the notional value of the reference obligation. The value of the reference obligation received by the seller, coupled with the periodic payments previously received may be less than the full notional value it pays to the buyer, resulting in a loss of value to the Fund. Credit default swaps involve greater risks than if the Fund had invested in the reference obligation directly. In addition to general market risks, credit default swaps are subject to illiquidity risk, counterparty risk and credit risk.

The aggregate fair value of credit default swaps in a net liability position is reflected as unrealized depreciation. The collateral posted for swap contracts, net of assets received as collateral, is also disclosed in the Notes to Schedules of Portfolio Investments. The maximum potential amount of future payments (undiscounted) that a portfolio as a seller of protection could be required to make under a credit default swap agreement is an amount equal to the notional amount of the agreement. These potential amounts are partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of

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3. PORTFOLIO INVESTMENTS (Continued)

buy protection credit default swap agreements entered into by a portfolio for the same referenced entity or entities. As of March 31, 2026, the Low Duration Bond Fund held credit default swaps.

The Funds entered into interest rate swap agreements. 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. The 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 swap’s remaining life. The Funds enter 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 Funds may write (sell) and purchase put and call swaptions. Swaption contracts written by the Funds represent an option that gives the purchaser the right, but not the obligation, to enter into a new swap agreement, or to shorten, extend, cancel or modify an existing swap agreement, on a future date on specified terms. Depending on the terms of the particular option agreement, a Fund will generally incur a greater degree of risk when it writes a swaption than it will incur when it purchases a swaption. When a Fund purchases a swaption, it risks losing only the amount of the premium it has paid should it decide to let the option expire unexercised. However, when a Fund writes a swaption, upon exercise of the option the Fund will become obligated according to the terms of the underlying agreement. At March 31, 2026, the Funds did not hold swaptions.

The Funds may enter into total return swap agreements. Total return swap is the generic name for any non-traditional swap where one party agrees to pay the other the “total return” of a defined underlying asset. The total return swap may be applied to any underlying asset but is most commonly used with equity indices, single stocks, bonds and defined portfolios of loans and mortgages. The total return swap is a mechanism for the user to accept the economic benefits of asset ownership without utilizing the balance sheet. The other leg of the swap is spread to reflect the non-balance sheet nature of the product. Total return swaps can be designed with any underlying asset agreed between two parties.

As a result, unrealized gains are reported as an asset and unrealized losses are reported as a liability in the Statements of Assets and Liabilities. The change in the value of the swaps, including periodic amounts of interest paid or received on swaps, is reported as unrealized gains or losses in both the Statements of Assets and Liabilities and the Statements of Operations. A realized gain or loss is recorded upon payment or termination of swap agreements. Swap agreements are stated at fair value. Notional principal amounts are used upon payment or receipt of a periodic payment or termination of swap agreements to express the extent of involvement in these transactions, but the amounts subject to credit risk are much smaller. At March 31, 2026, outstanding swap agreements, if any, are shown in the Funds’ Schedules of Portfolio Investments. Swap transactions present risk of loss in excess of the related amounts in the Statements of Assets and Liabilities.

4. RISK CONSIDERATIONS

Foreign Investing Risk: The Funds may be exposed to the risk that the Funds’ share prices will fluctuate with market conditions, currency exchange rates and the economic and political climates in countries where the Funds invest.

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4. RISK CONSIDERATIONS (Continued)

Market Risk: Because the values of the Funds’ investments will fluctuate with market conditions, so will the value of your investment in the Funds. You could lose money on your investment in the Funds or the Funds could underperform other investments.

Liquidity Risk: The Funds’ investments in illiquid securities may reduce the returns of the Funds because they may not be able to sell the illiquid securities at an advantageous time or price. Investments in high-yield securities, foreign securities, derivatives or other securities with substantial market and/or credit risk tend to have the greatest exposure to liquidity risk. Certain investments in private placements and Rule 144A securities may be considered illiquid investments. The Funds may invest in private placements and Rule 144A securities.

Interest Rate Risk: The values of the Funds’ investments fluctuate in response to movements in interest rates. If rates rise, the values of debt securities generally fall. The longer the average duration of a Fund’s investment portfolio, the greater the change in value.

Mortgage-Backed and Other Asset-Backed Securities Risk: Each Fund may invest in mortgage-backed or other asset-backed securities. The values of some mortgaged-backed or other asset-backed securities may expose a Fund to a lower rate of return upon reinvestment of principal. When interest rates rise, the value of mortgage-related securities generally will decline; however, when interest rates are declining, the value of mortgage-related securities with prepayment features may not increase as much as other fixed-income securities. The rate of prepayments on underlying mortgages will affect the price and volatility of a mortgage-related security, and may shorten or extend the effective maturity of the security beyond what was anticipated at the time of purchase. If an unanticipated rate of prepayment on underlying mortgages increases the effective maturity of a mortgage-related security, the volatility of the security can be expected to increase. The value of these securities may fluctuate in response to the market’s perception of the creditworthiness of the issuers. Additionally, although mortgages and mortgage-related securities are generally supported by some form of government or private guarantee and/or insurance, there is no assurance that private guarantors or insurers will meet their obligations.

Derivatives Risk: Use of derivatives, which at times is an important part of the Funds’ investment strategy, involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Investments in derivatives could cause the Funds to lose more than the principal amount invested. Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that the Funds will engage in these transactions to reduce exposure to other risks when that would be beneficial.

Credit Risk: The values of any of the Funds’ investments may also decline in response to events affecting the issuer or its credit rating. The lower-rated debt securities in which the Fund may invest are considered speculative and are subject to greater volatility and risk of loss than investment-grade securities, particularly in deteriorating economic conditions. The value of some mortgage-related securities in which the Funds invest also may fall because of unanticipated levels of principal prepayments that can occur when interest rates decline.

Certain of the Funds invest a material portion of their assets in securities of issuers that hold mortgage- and asset-backed securities and direct investments in securities backed by commercial and residential mortgage loans and other financial assets. The value and related income of these

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4. RISK CONSIDERATIONS (Continued)

securities are sensitive to changes in economic conditions, including delinquencies and/or defaults. Continuing shifts in the market’s perception of credit quality on securities backed by commercial and residential mortgage loans and other financial assets may result in increased volatility of market price and periods of illiquidity that can negatively impact the valuation of certain issuers held by the Funds.

Mortgage-backed securities (“MBS”) and asset-backed securities (“ABS”) are characterized and classified in a variety of different ways. These classifications include a view of the securities’ cash flow structure (pass-through, sequential pay, prepayment-protected, interest-only, principal-only, etc.), the security of the claim on the underlying assets (senior, mezzanine and subordinated), as well as types of underlying collateral (prime conforming loans, prime non-conforming loans, Alt-A loans, subprime loans, commercial loans, etc.). In many cases, the classification incorporates a degree of subjectivity: a particular loan might be categorized as “prime” by the underwriting standards of one mortgage issuer while another might classify the loan as “subprime.” In addition to other functions, the risk associated with an investment in a mortgage loan must take into account the nature of the collateral, the form and the level of credit enhancement, the vintage of the loan, the geography of the loan, the purpose of the loan (refinance versus purchase versus equity take-out), the borrower’s credit quality (e.g. FICO score), and whether the loan is a first trust deed or a second lien.

The mortgage industry lacks a single bright-line as to what separates a subprime loan from an Alt-A loan. Often it is a combination of loan characteristics involving both borrower criteria as well as collateral criteria that determine which category a loan is placed in. However, in order to be both conservative and objective as possible, the Adviser applied the following criteria to the Funds’ residential mortgage and asset-backed holdings in coming up with its categorizations:

Sub Prime - Any asset-backed bond whose collateral was residential mortgages which were considered to be subprime, provided that the loans did not belong to the classification of manufactured housing loans.

Alt-A - Any mortgage-backed security whose average borrower FICO score was less than 730 and/or was listed as an Alt-A pool by Bloomberg were considered to be Alt-A bonds.

Counterparty Risk: The Funds may be exposed to counterparty risk, or the risk that an entity with which the Funds have unsettled or open transactions may default. Financial assets, which potentially expose the Funds to credit and counterparty risks, consist principally of investments and cash due from counterparties. The extent of the Funds’ exposure to credit and counterparty risks with respect to these financial assets is approximated by their fair value recorded in the Funds’ Statements of Assets and Liabilities.

U.S. Trade Policy Risk: There have been significant changes to United States trade policies, agreements and tariffs, and in the future there may be additional significant changes. These and any future developments, and continued uncertainty surrounding trade policies, agreements and tariffs, may have material adverse effects on global economic conditions, inflation and the stability of global financial markets, and may significantly reduce global trade and, in particular trade between the impacted nations and the United States. Any of these factors could depress economic activity and restrict the access by issuers of the Funds’ portfolio securities to suppliers or customers, increase their supply-chain costs and expenses and could have material adverse effects on the Funds’ portfolio investments.

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Notes to Financial Statements (Continued)

4. RISK CONSIDERATIONS (Continued)

Bank Loan Risk: There is a risk of investing in corporate loans made by commercial banks and other financial institutions or institutional investors to companies that need capital to grow or restructure, which includes interest rate risk, liquidity risk and prepayment risk. The Fund may also be subject to the credit risk of other financial institutions and the risks associated with insufficient collateral securing a bank loan, limited available public information about a bank loan, delayed settlement, and less protection for holders of bank loans as compared to holders of registered securities. Bank loans are not registered and otherwise may not be treated as securities under the federal securities laws, meaning investors in loans have less protection against improper practices than investors in securities that are registered under or are otherwise subject to the protections of the securities laws.

5. FEDERAL TAX INFORMATION

Capital Loss Carryforwards:

At March 31, 2026, the following Funds had available for federal income tax purposes unused capital losses as follows:

Fund	Amount Utilized in Current Year		Short-term Non-Expiring Amounts		Long-term Non-Expiring Amounts
High Yield Bond Fund	$	2,529,734	$	28,193,290	$	107,323,925
Investment Grade Credit Fund		22,152		665,577		1,817,705
Low Duration Bond Fund		621,094		119,876,222		77,199,957
Strategic Income Fund		1,376		—		7,689,436
Sustainable Securitized Fund		121,523		142,662		1,037,384
Total Return Bond Fund		—		7,396,804,962		4,752,364,266
Ultra Short Bond Fund		99,015		6,874,322		5,569,268
Unconstrained Bond Fund		9,669,536		61,700,300		194,340,251

Tax Basis of Distributable Income:

As of March 31, 2026, the components of accumulated earnings (accumulated losses) on a tax basis were as follows:

	High Yield Bond Fund			Investment Grade Credit Fund			Low Duration Bond Fund			Strategic Income Fund
Undistributed ordinary income (inclusive of short-term gains)	$	3,462,971		$	42,540		$	2,035,840		$	128,746
Undistributed long-term gains		—			—			—			—
Other temporary differences		(530,729	)		—			(323,040	)		(1,053	)
Accumulated capital loss carryforwards and post-October losses		(135,517,215	)		(2,483,282	)		(197,076,179	)		(7,689,436	)
Net unrealized appreciation (depreciation)		(10,537,298	)		(175,738	)		(2,728,612	)		(4,153,041	)
Total accumulated earnings (losses)	$	(143,122,271	)	$	(2,616,480	)	$	(198,091,991	)	$	(11,714,784	)

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5. FEDERAL TAX INFORMATION (Continued)

	Sustainable Securitized Fund			Total Return Bond Fund			Ultra Short Bond Fund			Unconstrained Bond Fund
Undistributed ordinary income (inclusive of short-term gains)	$	11,619		$	10,998,766		$	119,701		$	1,509,678
Undistributed long-term gains		—			—			—			—
Other temporary differences		—			(6,759,926	)		(34	)		(2,864,892	)
Accumulated capital loss carryforwards and post-October losses		(1,180,046	)		(12,149,169,228	)		(12,443,590	)		(256,040,551	)
Net unrealized appreciation (depreciation)		(124,567	)		(1,417,697,698	)		(87,744	)		(288,074,644	)
Total accumulated earnings (losses)	$	(1,292,994	)	$	(13,562,628,086	)	$	(12,411,667	)	$	(545,470,409	)

Tax Basis of Distributions to Shareholders:

	High Yield Bond Fund				Investment Grade Credit Fund
	March 31, 2026		March 31, 2025		March 31, 2026		March 31, 2025
Distributions from:
Ordinary income (inclusive of short-term capital gains)	$	28,012,530	$	29,582,339	$	1,050,722	$	1,162,094
Return of Capital		—		—		—		—
Total taxable distributions	$	28,012,530	$	29,582,339	$	1,050,722	$	1,162,094

	Low Duration Bond Fund				Strategic Income Fund
	March 31, 2026		March 31, 2025		March 31, 2026		March 31, 2025
Distributions from:
Ordinary income (inclusive of short-term capital gains)	$	36,164,616	$	47,668,798	$	3,389,575	$	4,983,092
Return of Capital		—		—		—		—
Total taxable distributions	$	36,164,616	$	47,668,798	$	3,389,575	$	4,983,092

	Sustainable Securitized Fund				Total Return Bond Fund
	March 31, 2026		March 31, 2025		March 31, 2026		March 31, 2025
Distributions from:
Ordinary income (inclusive of short-term capital gains)	$	956,191	$	771,176	$	1,337,270,168	$	1,859,073,730
Return of Capital		—		—		—		—
Total taxable distributions	$	956,191	$	771,176	$	1,337,270,168	$	1,859,073,730

	Ultra Short Bond Fund				Unconstrained Bond Fund
	March 31, 2026		March 31, 2025		March 31, 2026		March 31, 2025
Distributions from:
Ordinary income (inclusive of short-term capital gains)	$	1,705,712	$	2,066,376	$	151,627,972	$	169,371,054
Return of Capital		—		—		—		—
Total taxable distributions	$	1,705,712	$	2,066,376	$	151,627,972	$	169,371,054

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Notes to Financial Statements (Continued)

5. FEDERAL TAX INFORMATION (Continued)

Tax Cost

As of March 31, 2026, gross unrealized appreciation (depreciation) based on cost for federal income tax purposes were as follows:

	High Yield Bond Fund			Investment Grade Credit Fund			Low Duration Bond Fund			Strategic Income Fund
Tax Cost	$	388,245,711		$	28,501,267		$	1,032,930,759		$	68,577,386
Gross unrealized appreciation	$	5,452,771		$	398,569		$	6,471,456		$	1,201,716
Gross unrealized (depreciation)		(15,989,301	)		(574,690	)		(9,100,028	)		(5,351,484	)
Net unrealized appreciation (depreciation)	$	(10,536,530	)	$	(176,121	)	$	(2,628,572	)	$	(4,149,768	)

	Sustainable Securitized Fund			Total Return Bond Fund			Ultra Short Bond Fund			Unconstrained Bond Fund
Tax Cost	$	27,896,279		$	35,659,617,035		$	47,187,822		$	3,331,638,146
Gross unrealized appreciation	$	275,363		$	159,618,175		$	272,278		$	31,254,819
Gross unrealized (depreciation)		(399,810	)		(1,577,684,840	)		(355,881	)		(319,219,000	)
Net unrealized appreciation (depreciation)	$	(124,447	)	$	(1,418,066,665	)	$	(83,603	)	$	(287,964,181	)

6. SECURITIES TRANSACTIONS

Investment transactions for the year ended March 31, 2026, excluding short-term investments, were as follows:

	Purchases at Cost		Sales or Maturity Proceeds		U.S. Government Purchases at Cost		U.S. Government Sales or Maturity Proceeds
High Yield Bond Fund	$	399,428,094	$	439,844,898	$	—	$	949,097
Investment Grade Credit Fund		7,038,161		7,016,012		79,919,866		84,467,759
Low Duration Bond Fund		326,321,681		383,204,878		4,619,717,420		4,713,417,362
Strategic Income Fund		21,471,912		30,326,233		161,737,531		162,817,326
Sustainable Securitized Fund		8,266,855		3,868,416		81,439,994		76,704,509
Total Return Bond Fund		6,752,948,662		9,294,120,467		123,859,299,194		129,574,397,967
Ultra Short Bond Fund		10,600,884		13,283,268		243,678,014		252,884,061
Unconstrained Bond Fund		1,255,821,279		1,195,360,307		6,022,546,221		6,045,509,553

There were no purchases or sales of securities from affiliated investment accounts for the year ended March 31, 2026. These trades are in accordance with the provisions set forth in Section 17(a)-7 of the 1940 Act.

7. INVESTMENT ADVISORY SERVICES AND OTHER TRANSACTIONS

As compensation for advisory services, the Adviser charges the High Yield Bond Fund, the Investment Grade Credit Fund, the Low Duration Bond Fund, the Strategic Income Fund, the Sustainable Securitized Fund, the Total Return Bond Fund, the Ultra Short Bond Fund and the Unconstrained Bond Fund a fee, computed daily and payable monthly, at an annual rate of 0.50%, 0.35%, 0.30%, 0.65%, 0.40%, 0.35%, 0.25% and 0.65%, respectively, of each Fund’s average daily net assets.

The Adviser has agreed in an operating expenses agreement with the Trust to limit each Fund’s expenses (excluding interest, taxes, brokerage commissions, short sales dividend expense, acquired

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7. INVESTMENT ADVISORY SERVICES AND OTHER TRANSACTIONS (Continued)

fund fees and expenses, and any expenses incurred in connection with any merger or reorganization or extraordinary expenses such as litigation) as described in the table below. The operating expenses agreement has a one-year term, renewable at the end of each fiscal year. Each Fund has agreed to reimburse the Adviser, for a period of up to three years, for any such payments to the extent that the Fund’s operating expenses are otherwise below its expense cap at both the time of the waiver and the recoupment. The Adviser’s obligation will not be recorded as a liability on the books of the applicable Fund to the extent that the total operating expenses of the Fund are at or above the expense cap. However, if the total operating expenses of a Fund fall below the expense cap, the reimbursement to the Adviser (up to the cap) will be accrued by the Fund as a liability if the Adviser seeks to recoup those amounts and the independent trustees have approved that reimbursement. The Adviser may not request or receive reimbursement from a Fund for prior reductions or reimbursements before the payment of a Fund’s operating expenses for the year.

Investment advisory fees and related contractual expense limitations for the year ended March 31, 2026, were as follows:

	Investment Advisory Fee Rate																		Contractual Expense Limitation1
Fund	Class M			Class I			Class I-2			Administrative Class			Class I-3			Plan Class			Class M			Class I			Class I-2			Administrative Class			Class I-3			Plan Class
High Yield Bond Fund		0.50	%		0.50	%		N/A			N/A			0.50	%		N/A			0.85	%		0.60	%		N/A			N/A			0.76	%		N/A
Investment Grade Credit Fund		0.35	%		0.35	%		N/A			N/A			N/A			N/A			0.70	%		0.49	%		N/A			N/A			N/A			N/A
Low Duration Bond Fund		0.30	%		0.30	%		N/A			0.30	%		0.30	%		N/A			0.63	%		0.44	%		N/A			0.83	%		0.54	%		N/A
Strategic Income Fund		0.65	%		0.65	%		N/A			N/A			N/A			N/A			1.04	%		0.80	%		N/A			N/A			N/A			N/A
Sustainable Securitized Fund		0.40	%		0.40	%		N/A			N/A			N/A			N/A			0.70	%		0.49	%		N/A			N/A			N/A			N/A
Total Return Bond Fund		0.35	%		0.35	%		0.35	%		0.35	%		0.35	%		0.35	%		0.70	%		0.49	%		0.54	%		0.90	%		0.59	%		0.39	%
Ultra Short Bond Fund		0.25	%		0.25	%		N/A			N/A			N/A			N/A			0.50	%		0.34	%		N/A			N/A			N/A			N/A
Unconstrained Bond Fund		0.65	%		0.65	%		N/A			N/A			0.65	%		0.65	%		1.04	%		0.80	%		N/A			N/A			0.90	%		0.70	%

¹  The Adviser has agreed not to reduce or discontinue this contractual expense limitation until July 31, 2026, unless approved by the Board.

219

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

7. INVESTMENT ADVISORY SERVICES AND OTHER TRANSACTIONS (Continued)

At March 31, 2026, the balance of recoupable expenses with expiration dates for the Funds were as follows:

Fund	2027		2028		2029		Total
High Yield Bond Fund	$	123,257	$	197,419	$	208,359	$	529,035
Investment Grade Credit Fund		239,989		303,361		172,061		715,411
Low Duration Fund		—		—		280,548		280,548
Strategic Income Fund		312,702		319,425		192,560		824,687
Sustainable Securitized Fund		238,549		240,348		161,293		640,190
Total Return Bond Fund		—		—		4,206,810		4,206,810
Ultra Short Bond Fund		259,120		265,578		165,327		690,025
Unconstrained Bond Fund		—		—		464,611		464,611
Total	$	1,173,617	$	1,326,131	$	5,851,569	$	8,351,317

Administrator, Custodian and Accounting Agent: State Street Bank and Trust Company (“State Street” or the “Bank”), located at One Congress Street, Suite 1, Boston, MA 02114-2016, is the Funds’ administrator, fund accountant and custodian. State Street is primarily in the business of providing administrative, fund accounting and transfer and dividend agent services to retail and institutional mutual funds and exchange traded funds. Prior to May 16, 2025, The Bank of New York Mellon served as the Funds’ administrator, fund accountant, transfer and dividend agent and custodian.

Trustees’ Fees: Certain officers and Trustees of the Funds are also officers and directors of the Adviser. Such officers and Trustees serve without direct compensation from the Funds. Each of the Independent Trustees receives an annual retainer of $137,500 and $6,500 for each meeting of the Board attended in person and $1,000 for each meeting attended telephonically. The chairman of the Board receives an annual retainer of $51,000 and the vice chairman of the Board receives an additional annual retainer of $34,000. The respective chairman of the Audit Committee and the Nominating and Governance Committee each receives an additional annual retainer of $8,500. The Trust has a nonqualified deferred compensation plan (the “Deferred Compensation Plan”) for certain eligible Trustees. The Deferred Compensation Plan allows Trustees to defer some or all of their annual trustees’ fees otherwise payable by the Trust for a minimum of three years. The fees deferred are posted to a bookkeeping account maintained by the Trust. The various series of the Trust will use the returns on those Funds selected by the Trustee to determine the income, gains and losses to allocate to the account. At the time for commencing distributions from a Trustee’s deferral account, which is no later than when the Trustee ceases to be a member of the Board, deferred fees will be paid out in a single sum in cash or a maximum of 10 annual installments. The expenses related to the annual retainer, meeting fees, and/or any fluctuation in the selected Funds under the Deferred Compensation Plan are recorded in Trustees’ fees and expenses in the Statements of Operations.

8. SHARE MARKETING (12b-1) PLAN AND SHAREHOLDER SERVICING PLAN

The Trust has a Share Marketing Plan (or the “12b-1 Plan”) pursuant to Rule 12b-1 of the 1940 Act with respect to Class M shares of the High Yield Bond Fund, the Investment Grade Credit Fund, the Low Duration Bond Fund, the Strategic Income Fund, the Sustainable Securitized Fund, the Total Return Bond Fund, the Ultra Short Bond Fund, the Unconstrained Bond Fund, and the Administrative Class shares of the Low Duration Bond Fund and Total Return Bond Fund. Under the 12b-1 Plan, the Trust pays TCW Funds Distributors, Inc., as the Trust’s distribution coordinator, an annual fee up to 0.25% of the particular Fund’s average daily net assets attributable to Class M shares and

220

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March 31, 2026

8. SHARE MARKETING (12b-1) PLAN AND SHAREHOLDER SERVICING PLAN (Continued)

Administrative Class shares to reimburse expenses in connection with the promotion and distribution of shares of the respective Fund. The Adviser has undertaken to limit the Rule 12b-1 expenses to 0.16% for the Ultra Short Bond Fund, 0.19% for the Low Duration Bond Fund, and 0.21% for the Total Return Bond Fund, for the year ended March 31, 2026.

The Board of Trustees has adopted a Shareholder Servicing Plan that allows each Fund to pay to broker-dealers and other financial intermediaries a fee for shareholder services provided to Fund shareholders who invest in the Administrative Class shares of a Fund through the intermediary. The fee is payable under the Shareholder Servicing Plan at an annual rate not to exceed 0.25% of the particular Fund’s average daily net assets attributable to the Administrative Share class, but the Adviser has undertaken to limit these expenses for the current fiscal year to 0.20% of the Fund’s average daily net assets invested through the intermediary.

9. COMMITMENTS AND CONTINGENCIES

The following funds had unfunded commitments and unrealized gain (loss) by investment as of March 31, 2026:

High Yield Bond Fund
Unfunded Commitments	Maturity		Amount		Unrealized Gain (Loss)
American Rock Salt Company LLC, 2024 First Out Delayed Draw Term		06/09/28	$	234,814	$	1,395
				234,814		1,395
Low Duration Bond Fund
Unfunded Commitments	Maturity		Amount		Unrealized Gain (Loss)
GC Ferry Acquisition I, Inc., Delayed Draw Term Loan		08/16/32	$	8,760	$	(110	)
				8,760		(110	)
Total Return Bond Fund
Unfunded Commitments	Maturity		Amount		Unrealized Gain (Loss)
GC Ferry Acquisition I Inc., Delayed Draw Term Loan		08/16/32	$	788,130	$	(9,852	)
QuidelOrtho Corp., Delayed Draw Term Loan A		08/21/30		120,000		(4,650	)
				908,130		(14,502	)
Unconstrained Bond Fund
Unfunded Commitments	Maturity		Amount		Unrealized Gain (Loss)
American Rock Salt Company LLC, 2024 First Out Delayed Draw Term		06/09/28	$	152,354	$	905
GC Ferry Acquisition I Inc., Delayed Draw Term Loan		08/16/32		120,074		(1,501	)
				272,428		(596	)

In the normal course of business, the Trust enters into contracts which provide a variety of representations and warranties, and that provide general indemnifications. Such contracts include those with certain service providers, brokers and trading counterparties. Any exposure to the Trust under these arrangements is unknown as it would involve future claims that may be made against the Trust; however, based on the Trust’s experience, the risk of loss is remote and no such claims are expected to occur. As such, the Trust has not accrued any liability in connection with such indemnifications.

221

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

10. CAPITAL SHARE TRANSACTIONS

Each Fund is authorized to issue an unlimited number of shares of beneficial interest with a par value of $0.01 per share. Transactions in shares of beneficial interest were as follows:

High Yield Bond Fund	Period/Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		17,342,601		$	159,504,792			13,270,854		$	123,501,808
Shares Issued upon Reinvestment of Dividends		1,772,270			16,442,018			1,930,144			17,938,923
Shares Redeemed		(20,777,042	)		(192,412,835	)		(18,394,900	)		(171,394,583	)
Net Increase (Decrease)		(1,662,171	)	$	(16,466,025	)		(3,193,902	)	$	(29,953,852	)
Class I-3 Shares*	Shares			Amount			Shares			Amount
Shares Sold		1,000		$	10,000			—		$	—
Shares Issued upon Reinvestment of Dividends		40			399			—			—
Net Increase		1,040		$	10,399			—		$	—
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		5,322,113		$	49,613,785			9,892,114		$	92,148,198
Shares Issued upon Reinvestment of Dividends		575,497			5,340,782			692,304			6,435,519
Shares Redeemed		(7,339,414	)		(68,292,024	)		(12,482,973	)		(116,321,544	)
Net Increase (Decrease)		(1,441,804	)	$	(13,337,457	)		(1,898,555	)	$	(17,737,827	)

* For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

Investment Grade Credit Fund	Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		591,502		$	4,699,389			426,426		$	3,306,085
Shares Issued upon Reinvestment of Dividends		94,776			756,450			109,813			852,524
Shares Redeemed		(989,508	)		(7,850,580	)		(627,478	)		(4,833,936	)
Net Increase (Decrease)		(303,230	)	$	(2,394,741	)		(91,239	)	$	(675,327	)
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		191,691		$	1,526,379			459,510		$	3,547,784
Shares Issued upon Reinvestment of Dividends		36,821			293,933			39,127			303,981
Shares Redeemed		(241,577	)		(1,923,001	)		(312,263	)		(2,417,192	)
Net Increase (Decrease)		(13,065	)	$	(102,689	)		186,374		$	1,434,573
Low Duration Bond Fund	Period/Year Ended March 31, 2026						Year Ended March 31, 2025
Administrative Class Shares	Shares			Amount			Shares			Amount
Shares Issued upon Reinvestment of Dividends		38		$	419			43		$	459
Net Increase		38		$	419			43		$	459
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		27,496,932		$	232,366,355			19,935,861		$	166,017,192
Shares Issued upon Reinvestment of Dividends		3,304,671			27,915,413			4,364,999			36,335,018
Shares Redeemed		(29,344,690	)		(247,729,088	)		(60,088,718	)		(499,812,255	)
Net Increase (Decrease)		1,456,913		$	12,552,680			(35,787,858	)	$	(297,460,045	)
Class I-3 Shares*	Shares			Amount			Shares			Amount
Shares Sold		10,011		$	100,584			—		$	—
Shares Issued upon Reinvestment of Dividends		59			587			—			—
Net Increase		10,070		$	101,171			—		$	—

222

TCW Metropolitan West Funds

March 31, 2026

10. CAPITAL SHARE TRANSACTIONS (Continued)

Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		707,463		$	5,969,626			1,780,184		$	14,818,651
Shares Issued upon Reinvestment of Dividends		382,707			3,231,685			675,175			5,620,131
Shares Redeemed		(5,165,384	)		(43,416,217	)		(7,834,637	)		(65,369,643	)
Net Decrease		(4,075,214	)	$	(34,214,906	)		(5,379,278	)	$	(44,930,861	)

* For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

Strategic Income Fund	Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		2,196,058		$	13,594,680			1,188,313		$	7,312,215
Shares Issued upon Reinvestment of Dividends		201,098			1,243,391			271,291			1,671,433
Shares Redeemed		(1,248,010	)		(7,699,057	)		(1,752,969	)		(10,808,366	)
Net Increase		1,149,146		$	7,139,014			(293,365	)	$	(1,824,718	)
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		618,721		$	3,817,284			954,127		$	5,886,353
Shares Issued upon Reinvestment of Dividends		344,629			2,130,655			532,117			3,276,977
Shares Redeemed		(3,490,191	)		(21,652,501	)		(2,830,093	)		(17,427,298	)
Net Increase (Decrease)		(2,526,841	)	$	(15,704,562	)		(1,343,849	)	$	(8,263,968	)
Sustainable Securitized Fund	Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		932,564		$	8,117,401			660,960		$	5,674,472
Shares Issued upon Reinvestment of Dividends		89,029			779,482			81,725			704,328
Shares Redeemed		(446,708	)		(3,885,872	)		(81,800	)		(699,602	)
Net Increase		574,885		$	5,011,011			660,885		$	5,679,198
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		476,894		$	4,145,440			529,937		$	4,570,671
Shares Issued upon Reinvestment of Dividends		20,171			176,650			7,709			66,678
Shares Redeemed		(286,192	)		(2,487,097	)		(183,799	)		(1,583,999	)
Net Increase		210,873		$	1,834,993			353,847		$	3,053,350
Total Return Bond Fund	Period/Year Ended March 31, 2026						Year Ended March 31, 2025
Administrative Class Shares	Shares			Amount			Shares			Amount
Shares Sold		7,994,817		$	73,052,026			15,709,647		$	141,866,987
Shares Issued upon Reinvestment of Dividends		1,308,374			11,976,824			3,229,782			29,084,538
Shares Redeemed		(28,577,462	)		(259,443,912	)		(102,475,546	)		(930,722,966	)
Net Increase (Decrease)		(19,274,271	)	$	(174,415,062	)		(83,536,117	)	$	(759,771,441	)
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		368,924,748		$	3,372,335,537			521,208,590		$	4,692,893,533
Shares Issued upon Reinvestment of Dividends		82,931,103			758,619,733			113,307,757			1,020,358,424
Shares Redeemed		(790,470,114	)		(7,224,202,501	)		(1,676,208,981	)		(15,112,701,399	)
Net Increase (Decrease)		(338,614,263	)	$	(3,093,247,231	)		(1,041,692,634	)	$	(9,399,449,442	)
Class I-2 Shares	Shares			Amount			Shares			Amount
Shares Sold		811,312		$	7,420,347			1,416,009		$	12,677,496
Shares Issued upon Reinvestment of Dividends		157,772			1,443,500			256,682			2,311,621
Shares Redeemed		(2,641,706	)		(24,248,184	)		(4,976,328	)		(44,808,584	)
Net Increase (Decrease)		(1,672,622	)	$	(15,384,337	)		(3,303,637	)	$	(29,819,467	)

223

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

10. CAPITAL SHARE TRANSACTIONS (Continued)

Class I-3 Shares*	Shares			Amount			Shares			Amount
Shares Sold		392,020		$	3,942,389			—		$	—
Shares Issued upon Reinvestment of Dividends		776			7,751			—			—
Shares Redeemed		(1,354	)		(13,570	)		—			—
Net Increase		391,442		$	3,936,570			—		$	—
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		43,336,781		$	395,156,865			67,411,786		$	607,584,741
Shares Issued upon Reinvestment of Dividends		9,991,542			91,388,372			14,649,070			131,963,625
Shares Redeemed		(116,477,041	)		(1,064,520,160	)		(214,061,391	)		(1,929,315,501	)
Net Increase (Decrease)		(63,148,718	)	$	(577,974,923	)		(132,000,535	)	$	(1,189,767,135	)
Plan Class Shares	Shares			Amount			Shares			Amount
Shares Sold		183,405,663		$	1,569,785,497			275,082,988		$	2,328,171,925
Shares Issued upon Reinvestment of Dividends		40,135,938			344,228,447			59,139,296			499,271,217
Shares Redeemed		(398,290,182	)		(3,404,106,009	)		(1,027,025,744	)		(8,680,721,779	)
Net Decrease		(174,748,581	)	$	(1,490,092,065	)		(692,803,460	)	$	(5,853,278,637	)

* For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

Ultra Short Bond Fund	Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		2,099,581		$	8,783,616			1,969,773		$	8,138,806
Shares Issued upon Reinvestment of Dividends		322,749			1,349,891			378,394			1,561,523
Shares Redeemed		(2,648,015	)		(11,035,421	)		(3,097,476	)		(12,765,172	)
Net Increase (Decrease)		(225,685	)	$	(901,914	)		(749,309	)	$	(3,064,843	)
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		353,032		$	1,470,016			384,868		$	1,587,676
Shares Issued upon Reinvestment of Dividends		84,904			353,972			120,336			495,652
Shares Redeemed		(1,450,029	)		(6,051,529	)		(963,436	)		(3,967,809	)
Net Increase (Decrease)		(1,012,093	)	$	(4,227,541	)		(458,232	)	$	(1,884,481	)
Unconstrained Bond Fund	Period/Year Ended March 31, 2026						Year Ended March 31, 2025
Class I Shares	Shares			Amount			Shares			Amount
Shares Sold		51,283,342		$	535,398,185			52,713,287		$	543,810,167
Shares Issued upon Reinvestment of Dividends		8,162,581			85,123,749			9,215,976			95,066,265
Shares Redeemed		(54,602,045	)		(568,776,663	)		(53,916,265	)		(555,988,874	)
Net Increase		4,843,878		$	51,745,271			8,012,998		$	82,887,558
Class I-3 Shares*	Shares			Amount			Shares			Amount
Shares Sold		1,000		$	10,000			—		$	—
Shares Issued upon Reinvestment of Dividends		30			306			—			—
Net Increase		1,030		$	10,306			—		$	—
Class M Shares	Shares			Amount			Shares			Amount
Shares Sold		1,162,126		$	12,119,414			1,981,364		$	20,465,012
Shares Issued upon Reinvestment of Dividends		656,075			6,847,310			807,916			8,338,060
Shares Redeemed		(3,092,085	)		(32,260,649	)		(3,517,217	)		(36,273,456	)
Net Increase (Decrease)		(1,273,884	)	$	(13,293,925	)		(727,937	)	$	(7,470,384	)

224

TCW Metropolitan West Funds

March 31, 2026

10. CAPITAL SHARE TRANSACTIONS (Continued)

Plan Class Shares	Shares			Amount			Shares			Amount
Shares Sold		303,151		$	3,162,105			7,591,820		$	77,785,250
Shares Issued upon Reinvestment of Dividends		2,410,178			25,119,676			2,732,239			28,182,270
Shares Redeemed		(13,875,562	)		(145,446,140	)		(2,979,047	)		(30,968,166	)
Net Decrease		(11,162,233	)	$	(117,164,359	)		7,345,012		$	74,999,354

* For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

11. 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 Trust 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 March 31, 2026 are listed below:

High Yield Bond Fund
Issuer Description	Acquisition Date	Acquisition Cost		Aggregate Value		Percentage of Net Assets
ModivCare, Inc., 1.00%, 10/01/29	02/23/23	$	3,085,182	$	54,416		0.01	%
		$	3,085,182	$	54,416		0.01	%
Investment Grade Credit Fund
Issuer Description	Acquisition Date	Acquisition Cost		Aggregate Value		Percentage of Net Assets
JPMorgan Chase Commercial Mortgage Securities Trust Series 2010-C2, Class XB (I/O), 1.30%, 11/15/43	07/03/18	$	16,221	$	4		0.00	%
		$	16,221	$	4		0.00	%
Low Duration Bond Fund
Issuer Description	Acquisition Date	Acquisition Cost		Aggregate Value		Percentage of Net Assets
ModivCare, Inc., 1.00%, 10/01/29	08/06/24	$	635,783	$	13,640		0.00	%
		$	635,783	$	13,640		0.00	%
Strategic Income Fund
Issuer Description	Acquisition Date	Acquisition Cost		Aggregate Value		Percentage of Net Assets
ModivCare, Inc., 1.00%, 10/01/29	08/10/21		136,789		2,426		0.00	%
		$	136,789	$	2,426		0.00	%

225

TCW Metropolitan West Funds

Notes to Financial Statements (Continued)

11. RESTRICTED SECURITIES (Continued)

Total Return Bond Fund
Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A, 4.09%, 08/10/38		08/23/18	$	125,147,817	$	120,294,479		0.40	%
SHOW Trust Series 2022-BIZ, Class A, 6.65% (1 mo. USD Term SOFR + 2.984%), 01/15/27		02/24/22		68,000,000		36,707,223		0.12	%
ModivCare, Inc., 1.00%, 10/01/29		04/28/23		36,470,414		664,871		0.00	%
			$	229,618,231	$	157,666,573		0.53	%
Unconstrained Bond Fund
Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
CoreVest American Finance Trust Series 2019-3, Class XA (I/O), 1.99%, 10/15/52		11/08/19	$	279,430	$	4		0.00	%
Invesco U.S. CLO Ltd. Series 2024-4A, Class Y, 0.05%, 01/15/38		11/25/24		0		1		0.00	%
ModivCare, Inc., 1.00%, 10/01/29		04/25/23		4,536,476		82,719		0.00	%
New Mountain CLO 8 Ltd. Series CLO-8A, Class M, 0.00%, 10/20/38		09/16/25		65		0		0.00	%
			$	4,815,971	$	82,724		0.00	%

12. AFFILIATE OWNERSHIP

As of March 31, 2026, affiliates of the Funds and Advisor owned 10.94% and 24.77% of the net assets of the Investment Grade Credit Fund and Sustainable Securitized Fund, respectively.

13. COMMITTED LINE OF CREDIT

The Funds, together with the TCW Funds, Inc. and TCW ETF Trust, have entered into a $250,000,000 committed revolving line of credit agreement with State Street for temporary borrowing purposes, with an expiration date of December 17, 2026. The interest rate on borrowing is the higher of the Federal Funds Effective Rate plus 0.10%, plus 1.25% or the Overnight Bank Funding Rate plus 0.10%, plus 1.25%. There were no borrowings from the line of credit as of or during the year ended March 31, 2026. The Funds pay the Bank a commitment fee equal to 0.25% per annum on any unused portion of the committed line amount. The commitment fees incurred by the Funds are presented in Transfer Agent fees on the Statements of Operations. The commitment fees are allocated to each applicable Fund in proportion to its relative average daily net assets and the interest expenses are charged directly to the applicable Fund.

14. INDEMNIFICATIONS

Under the Funds’ organizational documents, its officers and trustees are indemnified against certain liability arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts with their vendors and others that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown, as this would involve further claims that may be made against the Funds. However, based on experience, the Funds expect the risk of loss to be remote.

226

TCW Metropolitan West Funds

March 31, 2026

15. SEGMENT REPORTING

The Funds adopted FASB Accounting Standards Update 2023-07, Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds’ financial position or the results of their operations. The Funds represent a single operating segment as the operating results of the Funds are monitored as a whole and their long-term asset allocation is determined in accordance with the terms of the applicable prospectus, based on defined investment objectives that is executed by the Funds’ portfolio management team. A senior executive team comprised of the Funds’ Principal Executive Officer and Principal Financial Officer, serves as the Funds’ chief operating decision maker (“CODM”), who act in accordance with Board reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess the Funds’ profits and losses and to make resource allocation decisions. Segment assets are reflected in the Statements of Assets and Liabilities as Net Assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

16. RECENT ACCOUNTING PRONOUNCEMENTS

In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosure requirements, including, but not limited to, those with respect to each Fund’s income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024. There was no impact to the Funds’ financial statements and no additional disclosures were required for the year ended March 31, 2026.

17. SUBSEQUENT EVENTS

Management has evaluated subsequent events and transactions for potential recognition or disclosure through the date the financial statements were issued and has determined that there are no material events that would require recognition or disclosure in the Funds’ financial statements.

227

TCW MetWest High Yield Bond Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.23		$	9.28		$	9.12		$	10.05		$	10.57
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.63			0.62			0.62			0.52			0.41
Net Realized and Unrealized Gain (Loss) on Investments		(0.14	)		(0.05	)		0.16			(0.92	)		(0.52	)
Total from Investment Operations		0.49			0.57			0.78			(0.40	)		(0.11	)
Less Distributions:
Distributions from Net Investment Income		(0.62	)		(0.62	)		(0.62	)		(0.53	)		(0.41	)
Total Distributions		(0.62	)		(0.62	)		(0.62	)		(0.53	)		(0.41	)
Net Asset Value per Share, End of year	$	9.10		$	9.23		$	9.28		$	9.12		$	10.05
Total Return		5.37	%		6.32	%		8.91	%		(3.87	%)		(1.15	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	305,288		$	324,877		$	356,322		$	361,021		$	552,768
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.62	%		0.64	%		0.62	%		0.61	%		0.61	%
After Expense Reimbursement		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%
Ratio of Net Investment Income to Average Net Assets		6.75	%		6.71	%		6.81	%		5.67	%		3.88	%
Portfolio Turnover Rate (2)(3)		100	%		76	%		82	%		116	%		117	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

228

TCW MetWest High Yield Bond Fund

Financial Highlights — Class I-3 Shares

	Period Ended March 31, 2026
Net Asset Value per Share, Beginning of period	$	10.00	(1)
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.40
Net Realized and Unrealized Loss on Investments		(0.27	)
Total from Investment Operations		0.13
Less Distributions:
Distributions from Net Investment Income		(0.39	)
Total Distributions		(0.39	)
Net Asset Value per Share, End of period	$	9.74
Total Return		1.33	% (3)
Ratios/Supplemental data:
Net Assets, End of period (in thousands)	$	10
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		82.39	% (4)
After Expense Reimbursement		0.76	% (4)
Ratio of Net Investment Income to Average Net Assets		6.77	% (4)
Portfolio Turnover Rate (5)(6)		100	% (3)

(1) For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(6) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

229

TCW MetWest High Yield Bond Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.23		$	9.28		$	9.12		$	10.06		$	10.57
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.60			0.60			0.60			0.50			0.38
Net Realized and Unrealized Gain (Loss) on Investments		(0.12	)		(0.05	)		0.16			(0.93	)		(0.51	)
Total from Investment Operations		0.48			0.55			0.76			(0.43	)		(0.13	)
Less Distributions:
Distributions from Net Investment Income		(0.60	)		(0.60	)		(0.60	)		(0.51	)		(0.38	)
Total Distributions		(0.60	)		(0.60	)		(0.60	)		(0.51	)		(0.38	)
Net Asset Value per Share, End of year	$	9.11		$	9.23		$	9.28		$	9.12		$	10.06
Total Return		5.23	%		6.06	%		8.64	%		(4.20	%)		(1.30	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	78,831		$	93,236		$	111,388		$	134,178		$	169,941
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.98	%		0.92	%		0.91	%		0.91	%		0.90	%
After Expense Reimbursement		0.85	%		0.85	%		0.85	%		0.85	%		0.85	%
Ratio of Net Investment Income to Average Net Assets		6.49	%		6.44	%		6.55	%		5.45	%		3.61	%
Portfolio Turnover Rate (2)(3)		100	%		76	%		82	%		116	%		117	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

230

TCW MetWest Investment Grade Credit Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	7.85		$	7.70		$	7.82		$	8.70		$	9.67
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.27			0.34			0.42			0.67			0.45
Net Realized and Unrealized Gain (Loss) on Investments		0.15			0.15			(0.10	)		(0.86	)		(0.93	)
Total from Investment Operations		0.42			0.49			0.32			(0.19	)		(0.48	)
Less Distributions:
Distributions from Net Investment Income		(0.32	)		(0.34	)		(0.44	)		(0.67	)		(0.48	)
Distributions from Net Realized Gain		—			—			—			—			(0.01	)
Distributions from Return of Capital		—			—			—			(0.02	)		—
Total Distributions		(0.32	)		(0.34	)		(0.44	)		(0.69	)		(0.49	)
Net Asset Value per Share, End of year	$	7.95		$	7.85		$	7.70		$	7.82		$	8.70
Total Return		5.43	%		6.50	%		4.23	%		(2.03	%)		(5.22	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	18,093		$	20,254		$	20,578		$	7,299		$	8,640
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.21	%		1.61	%		2.30	%		3.62	%		1.87	%
After Expense Reimbursement		0.49	%		0.49	%		0.49	%		0.49	%		0.49	%
Ratio of Net Investment Income to Average Net Assets		3.43	%		4.38	%		5.53	%		8.38	%		4.79	%
Portfolio Turnover Rate (2)(3)		305	%		440	%		491	%		231	%		345	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

231

TCW MetWest Investment Grade Credit Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	7.85		$	7.70		$	7.82		$	8.70		$	9.67
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.26			0.32			0.41			0.63			0.45
Net Realized and Unrealized Gain (Loss) on Investments		0.14			0.15			(0.11	)		(0.84	)		(0.95	)
Total from Investment Operations		0.40			0.47			0.30			(0.21	)		(0.50	)
Less Distributions:
Distributions from Net Investment Income		(0.30	)		(0.32	)		(0.42	)		(0.65	)		(0.46	)
Distributions from Net Realized Gain		—			—			—			—			(0.01	)
Distributions from Return of Capital		—			—			—			(0.02	)		—
Total Distributions		(0.30	)		(0.32	)		(0.42	)		(0.67	)		(0.47	)
Net Asset Value per Share, End of year	$	7.95		$	7.85		$	7.70		$	7.82		$	8.70
Total Return		5.21	%		6.28	%		4.01	%		(2.24	%)		(5.42	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	7,608		$	7,618		$	6,041		$	3,026		$	2,259
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.50	%		1.86	%		2.56	%		3.90	%		2.16	%
After Expense Reimbursement		0.70	%		0.70	%		0.70	%		0.70	%		0.70	%
Ratio of Net Investment Income to Average Net Assets		3.23	%		4.17	%		5.33	%		7.93	%		4.75	%
Portfolio Turnover Rate (2)(3)		305	%		440	%		491	%		231	%		345	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

232

TCW MetWest Low Duration Bond Fund

Financial Highlights — Administrative Class Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	10.83		$	10.68		$	10.73		$	11.08		$	11.48
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.40			0.46			0.44			0.22			0.09
Net Realized and Unrealized Gain (Loss) on Investments		0.04			0.15			(0.06	)		(0.28	)		(0.40	)
Total from Investment Operations		0.44			0.61			0.38			(0.06	)		(0.31	)
Less Distributions:
Distributions from Net Investment Income		(0.40	)		(0.46	)		(0.43	)		(0.29	)		(0.09	)
Total Distributions		(0.40	)		(0.46	)		(0.43	)		(0.29	)		(0.09	)
Net Asset Value per Share, End of year	$	10.87		$	10.83		$	10.68		$	10.73		$	11.08
Total Return		4.13	%		5.81	%		3.77	%		(0.48	%)		(2.74	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	12		$	11		$	10		$	776	(2)	$	1,709
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		104.47	%		0.71	%		0.70	%		0.72	%		0.72	%
After Expense Reimbursement		0.81	%		0.71	%		0.70	%		0.72	%		0.72	%
Ratio of Net Investment Income to Average Net Assets		3.69	%		4.28	%		4.18	%		2.05	%		0.80	%
Portfolio Turnover Rate (3)(4)		489	%		454	%		461	%		450	%		347	%

(1) Computed using average shares outstanding throughout the period.

(2) Represents the whole number without rounding to the 000s.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

233

TCW MetWest Low Duration Bond Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	8.39		$	8.27		$	8.30		$	8.58		$	8.88
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.35			0.38			0.35			0.24			0.09
Net Realized and Unrealized Gain (Loss) on Investments		0.02			0.12			(0.03	)		(0.28	)		(0.30	)
Total from Investment Operations		0.37			0.50			0.32			(0.04	)		(0.21	)
Less Distributions:
Distributions from Net Investment Income		(0.34	)		(0.38	)		(0.35	)		(0.24	)		(0.09	)
Total Distributions		(0.34	)		(0.38	)		(0.35	)		(0.24	)		(0.09	)
Net Asset Value per Share, End of year	$	8.42		$	8.39		$	8.27		$	8.30		$	8.58
Total Return		4.51	%		6.17	%		4.03	%		(0.37	%)		(2.34	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	842,585		$	827,339		$	1,111,745		$	1,479,311		$	2,018,926
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.44	%		0.43	%		0.42	%		0.42	%		0.41	%
After Expense Reimbursement		0.41	%		0.43	%		0.42	%		0.42	%		0.41	%
Ratio of Net Investment Income to Average Net Assets		4.13	%		4.57	%		4.31	%		2.85	%		1.07	%
Portfolio Turnover Rate (2)(3)		489	%		454	%		461	%		450	%		347	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

234

TCW MetWest Low Duration Bond Fund

Financial Highlights — Class I-3 Shares

	Period Ended March 31, 2026
Net Asset Value per Share, Beginning of period	$	10.00	(1)
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.22
Net Realized and Unrealized Gain on Investments		(0.01	)
Total from Investment Operations		0.21
Less Distributions:
Distributions from Net Investment Income		(0.24	)
Total Distributions		(0.24	)
Net Asset Value per Share, End of period	$	9.97
Total Return		2.09	% (3)
Ratios/Supplemental data:
Net Assets, End of period (in thousands)	$	100
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		31.24	% (4)
After Expense Reimbursement		0.54	% (4)
Ratio of Net Investment Income to Average Net Assets		3.87	% (4)
Portfolio Turnover Rate (5)(6)		489	% (3)

(1) For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(6) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

235

TCW MetWest Low Duration Bond Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	8.39		$	8.27		$	8.30		$	8.57		$	8.88
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.33			0.36			0.34			0.22			0.08
Net Realized and Unrealized Gain (Loss) on Investments		0.02			0.12			(0.03	)		(0.26	)		(0.31	)
Total from Investment Operations		0.35			0.48			0.31			(0.04	)		(0.23	)
Less Distributions:
Distributions from Net Investment Income		(0.32	)		(0.36	)		(0.34	)		(0.23	)		(0.08	)
Total Distributions		(0.32	)		(0.36	)		(0.34	)		(0.23	)		(0.08	)
Net Asset Value per Share, End of year	$	8.42		$	8.39		$	8.27		$	8.30		$	8.57
Total Return		4.28	%		5.96	%		3.82	%		(0.46	%)		(2.65	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	75,856		$	109,774		$	152,721		$	298,833		$	474,682
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.65	%		0.63	%		0.62	%		0.63	%		0.62	%
After Expense Reimbursement		0.63	%		0.63	%		0.62	%		0.63	%		0.62	%
Ratio of Net Investment Income to Average Net Assets		3.92	%		4.38	%		4.08	%		2.66	%		0.87	%
Portfolio Turnover Rate (2)(3)		489	%		454	%		461	%		450	%		347	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

236

TCW MetWest Strategic Income Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	6.17		$	6.18		$	6.24		$	6.89		$	7.83
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.30			0.46			0.46			0.57			0.76
Net Realized and Unrealized Gain (Loss) on Investments		0.05			(0.01	)		(0.05	)		(0.59	)		(0.95	)
Total from Investment Operations		0.35			0.45			0.41			(0.02	)		(0.19	)
Less Distributions:
Distributions from Net Investment Income		(0.37	)		(0.46	)		(0.47	)		(0.63	)		(0.75	)
Total Distributions		(0.37	)		(0.46	)		(0.47	)		(0.63	)		(0.75	)
Net Asset Value per Share, End of year	$	6.15		$	6.17		$	6.18		$	6.24		$	6.89
Total Return		5.92	%		7.53	%		7.10	%		N/A			(2.76	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	28,116		$	21,091		$	22,938		$	15,540		$	9,310
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.13	%		1.26	%		1.22	%		1.65	%		2.77	%
After Expense Reimbursement		0.80	%		0.80	%		0.80	%		0.80	%		0.80	%
Ratio of Net Investment Income to Average Net Assets		4.85	%		7.44	%		7.46	%		9.08	%		10.06	%
Portfolio Turnover Rate (2)(3)		302	%		237	%		260	%		177	%		77	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

237

TCW MetWest Strategic Income Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	6.17		$	6.18		$	6.24		$	6.89		$	7.83
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.29			0.45			0.45			0.51			0.73
Net Realized and Unrealized Gain (Loss) on Investments		0.04			(0.02	)		(0.05	)		(0.54	)		(0.94	)
Total from Investment Operations		0.33			0.43			0.40			(0.03	)		(0.21	)
Less Distributions:
Distributions from Net Investment Income		(0.35	)		(0.44	)		(0.46	)		(0.62	)		(0.73	)
Total Distributions		(0.35	)		(0.44	)		(0.46	)		(0.62	)		(0.73	)
Net Asset Value per Share, End of year	$	6.15		$	6.17		$	6.18		$	6.24		$	6.89
Total Return		5.52	%		7.27	%		6.67	%		(0.23	%)		(2.99	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	28,278		$	43,931		$	52,304		$	50,681		$	16,813
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.44	%		1.51	%		1.49	%		1.86	%		3.02	%
After Expense Reimbursement		1.04	%		1.04	%		1.04	%		1.04	%		1.04	%
Ratio of Net Investment Income to Average Net Assets		4.63	%		7.22	%		7.26	%		8.24	%		9.71	%
Portfolio Turnover Rate (2)(3)		302	%		237	%		260	%		177	%		77	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

238

TCW MetWest Sustainable Securitized Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022 (1)
Net Asset Value per Share, Beginning of year	$	8.69		$	8.35		$	8.45		$	9.37		$	10.00
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.40			0.56			0.47			0.23			0.05
Net Realized and Unrealized Gain (Loss) on Investments		0.08			0.35			(0.09	)		(0.89	)		(0.63	)
Total from Investment Operations		0.48			0.91			0.38			(0.66	)		(0.58	)
Less Distributions:
Distributions from Net Investment Income		(0.41	)		(0.57	)		(0.43	)		(0.26	)		(0.05	)
Distributions from Return of Capital		—			—			(0.05	)		—			—
Total Distributions		(0.41	)		(0.57	)		(0.48	)		(0.26	)		(0.05	)
Net Asset Value per Share, End of year	$	8.76		$	8.69		$	8.35		$	8.45		$	9.37
Total Return		5.63	%		11.21	%		4.67	%		(7.04	%)		(5.87	%) (3)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	18,915		$	13,780		$	7,715		$	8,361		$	10,655
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.28	%		2.53	%		3.82	%		2.93	%		1.80	% (4)
After Expense Reimbursement		0.49	%		0.49	%		0.49	%		0.49	%		0.49	% (4)
Ratio of Net Investment Income to Average Net Assets		4.62	%		6.56	%		5.67	%		2.61	%		0.94	% (4)
Portfolio Turnover Rate (5)(6)		353	%		333	%		312	%		312	%		276	% (3)

(1) The Sustainable Securitized Fund Class I Shares commenced operations on October 1, 2021.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(6) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

239

TCW MetWest Sustainable Securitized Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022 (1)
Net Asset Value per Share, Beginning of year	$	8.69		$	8.34		$	8.45		$	9.36		$	10.00
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.38			0.49			0.42			0.21			0.05
Net Realized and Unrealized Gain (Loss) on Investments		0.07			0.41			(0.07	)		(0.88	)		(0.61	)
Total from Investment Operations		0.45			0.90			0.35			(0.67	)		(0.56	)
Less Distributions:
Distributions from Net Investment Income		(0.39	)		(0.55	)		(0.41	)		(0.24	)		(0.08	)
Distributions from Return of Capital		—			—			(0.05	)		—			—
Total Distributions		(0.39	)		(0.55	)		(0.46	)		(0.24	)		(0.08	)
Net Asset Value per Share, End of year	$	8.75		$	8.69		$	8.34		$	8.45		$	9.36
Total Return		5.29	%		11.11	%		4.33	%		(7.15	%)		(5.60	%)(3)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	4,989		$	3,120		$	44		$	50		$	16
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.95	%		2.53	%		4.15	%		3.35	%		2.15	% (4)
After Expense Reimbursement		0.70	%		0.70	%		0.70	%		0.70	%		0.79	% (4)
Ratio of Net Investment Income to Average Net Assets		4.39	%		5.74	%		5.13	%		2.43	%		0.97	% (4)
Portfolio Turnover Rate (5)(6)		353	%		333	%		312	%		312	%		276	% (3)

(1) The Sustainable Securitized Fund Class M Shares commenced operations on October 1, 2021.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(6) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

240

TCW MetWest Total Return Bond Fund

Financial Highlights — Administrative Class Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.08		$	9.03		$	9.29		$	10.19		$	10.83
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.34			0.37			0.36			0.27			0.12
Net Realized and Unrealized Gain (Loss) on Investments		0.04			0.05			(0.26	)		(0.90	)		(0.65	)
Total from Investment Operations		0.38			0.42			0.10			(0.63	)		(0.53	)
Less Distributions:
Distributions from Net Investment Income		(0.35	)		(0.37	)		(0.36	)		(0.27	)		(0.11	)
Distributions from Net Realized Gain		0.00			—			—			—			(0.00	) (2)
Total Distributions		(0.35	)		(0.37	)		(0.36	)		(0.27	)		(0.11	)
Net Asset Value per Share, End of year	$	9.11		$	9.08		$	9.03		$	9.29		$	10.19
Total Return		4.22	%		4.71	%		1.12	%		(6.10	%)		(4.89	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	265,475		$	439,772		$	1,191,464		$	1,549,862		$	1,963,315
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.80	%		0.78	%		0.78	%		0.78	%		0.77	%
After Expense Reimbursement		0.80	%		0.78	%		0.78	%		0.78	%		0.77	%
Ratio of Net Investment Income to Average Net Assets		3.72	%		4.04	%		4.01	%		2.83	%		1.06	%
Portfolio Turnover Rate (3)(4)		405	%		418	%		450	%		426	%		467	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

241

TCW MetWest Total Return Bond Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.07		$	9.02		$	9.28		$	10.18		$	10.82
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.37			0.40			0.39			0.30			0.15
Net Realized and Unrealized Gain (Loss) on Investments		0.04			0.05			(0.26	)		(0.90	)		(0.64	)
Total from Investment Operations		0.41			0.45			0.13			(0.60	)		(0.49	)
Less Distributions:
Distributions from Net Investment Income		(0.38	)		(0.40	)		(0.39	)		(0.30	)		(0.15	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) (2)
Total Distributions		(0.38	)		(0.40	)		(0.39	)		(0.30	)		(0.15	)
Net Asset Value per Share, End of year	$	9.10		$	9.07		$	9.02		$	9.28		$	10.18
Total Return		4.60	%		5.06	%		1.45	%		(5.80	%)		(4.58	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	18,807,018		$	21,821,702		$	31,087,119		$	38,399,347		$	46,961,971
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.45	%		0.44	%		0.45	%		0.45	%		0.44	%
After Expense Reimbursement		0.43	%		0.44	%		0.45	%		0.45	%		0.44	%
Ratio of Net Investment Income to Average Net Assets		4.09	%		4.40	%		4.35	%		3.19	%		1.38	%
Portfolio Turnover Rate (3)(4)		405	%		418	%		450	%		426	%		467	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(4) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

242

TCW MetWest Total Return Bond Fund

Financial Highlights — Class I-2 Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.07		$	9.02		$	9.28		$	10.18		$	10.82
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.36			0.39			0.38			0.29			0.14
Net Realized and Unrealized Gain (Loss) on Investments		0.04			0.05			(0.26	)		(0.89	)		(0.64	)
Total from Investment Operations		0.40			0.44			0.12			(0.60	)		(0.50	)
Less Distributions:
Distributions from Net Investment Income		(0.37	)		(0.39	)		(0.38	)		(0.30	)		(0.14	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) (2)
Total Distributions		(0.37	)		(0.39	)		(0.38	)		(0.30	)		(0.14	)
Net Asset Value per Share, End of year	$	9.10		$	9.07		$	9.02		$	9.28		$	10.18
Total Return		4.50	%		4.99	%		1.39	%		(5.87	%)		(4.65	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	23,025		$	38,130		$	67,699		$	102,076		$	170,455
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.56	%		0.51	%		0.51	%		0.52	%		0.52	%
After Expense Reimbursement		0.53	%		0.51	%		0.51	%		0.52	%		0.52	%
Ratio of Net Investment Income to Average Net Assets		3.99	%		4.32	%		4.28	%		3.06	%		1.33	%
Portfolio Turnover Rate (3)(4)		405	%		418	%		450	%		426	%		467	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

243

TCW MetWest Total Return Bond Fund

Financial Highlights — Class I-3 Shares

	Period Ended March 31, 2026
Net Asset Value per Share, Beginning of period	$	10.00	(1)
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.23
Net Realized and Unrealized Gain on Investments		0.02
Total from Investment Operations		0.25
Less Distributions:
Distributions from Net Investment Income		(0.26	)
Total Distributions		(0.26	)
Net Asset Value per Share, End of period	$	9.99
Total Return		2.48	% (3)
Ratios/Supplemental data:
Net Assets, End of period (in thousands)	$	3,910
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		2.91	% (4)
After Expense Reimbursement		0.59	% (4)
Ratio of Net Investment Income to Average Net Assets		4.52	% (4)
Portfolio Turnover Rate (5)(6)		405	% (3)

(1) For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(6) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

244

TCW MetWest Total Return Bond Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	9.08		$	9.02		$	9.28		$	10.19		$	10.82
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.35			0.38			0.37			0.28			0.13
Net Realized and Unrealized Gain (Loss) on Investments		0.03			0.06			(0.26	)		(0.91	)		(0.63	)
Total from Investment Operations		0.38			0.44			0.11			(0.63	)		(0.50	)
Less Distributions:
Distributions from Net Investment Income		(0.36	)		(0.38	)		(0.37	)		(0.28	)		(0.13	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) (2)
Total Distributions		(0.36	)		(0.38	)		(0.37	)		(0.28	)		(0.13	)
Net Asset Value per Share, End of year	$	9.10		$	9.08		$	9.02		$	9.28		$	10.19
Total Return		4.35	%		4.96	%		1.24	%		(6.10	%)		(4.69	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	2,084,130		$	2,650,908		$	3,826,231		$	6,442,440		$	6,213,223
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.69	%		0.65	%		0.66	%		0.67	%		0.65	%
After Expense Reimbursement		0.68	%		0.65	%		0.66	%		0.67	%		0.65	%
Ratio of Net Investment Income to Average Net Assets		3.84	%		4.18	%		4.11	%		3.04	%		1.17	%
Portfolio Turnover Rate (3)(4)		405	%		418	%		450	%		426	%		467	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(4) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

245

TCW MetWest Total Return Bond Fund

Financial Highlights — Plan Class Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	8.51		$	8.46		$	8.70		$	9.55		$	10.15
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.35			0.38			0.37			0.29			0.15
Net Realized and Unrealized Gain (Loss) on Investments		0.04			0.05			(0.24	)		(0.85	)		(0.60	)
Total from Investment Operations		0.39			0.43			0.13			(0.56	)		(0.45	)
Less Distributions:
Distributions from Net Investment Income		(0.36	)		(0.38	)		(0.37	)		(0.29	)		(0.15	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) (2)
Total Distributions		(0.36	)		(0.38	)		(0.37	)		(0.29	)		(0.15	)
Net Asset Value per Share, End of year	$	8.54		$	8.51		$	8.46		$	8.70		$	9.55
Total Return		4.68	%		5.18	%		1.58	%		(5.79	%)		(4.50	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	8,542,339		$	10,002,933		$	15,803,141		$	17,622,821		$	22,197,865
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.38	%		0.37	%		0.37	%		0.37	%		0.36	%
After Expense Reimbursement		0.38	%		0.37	%		0.37	%		0.37	%		0.36	%
Ratio of Net Investment Income to Average Net Assets		4.14	%		4.47	%		4.43	%		3.26	%		1.47	%
Portfolio Turnover Rate (3)(4)		405	%		418	%		450	%		426	%		467	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

246

TCW MetWest Ultra Short Bond Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	4.16		$	4.10		$	4.11		$	4.18		$	4.26
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.17			0.18			0.18			0.10			0.03
Net Realized and Unrealized Gain (Loss) on Investments		0.02			0.06			(0.01	)		(0.06	)		(0.08	)
Total from Investment Operations		0.19			0.24			0.17			0.04			(0.05	)
Less Distributions:
Distributions from Net Investment Income		(0.17	)		(0.18	)		(0.18	)		(0.11	)		(0.03	)
Total Distributions		(0.17	)		(0.18	)		(0.18	)		(0.11	)		(0.03	)
Net Asset Value per Share, End of year	$	4.18		$	4.16		$	4.10		$	4.11		$	4.18
Total Return		4.63	%		5.98	%		4.31	%		0.90	%		(1.21	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	34,477		$	35,222		$	37,783		$	101,852		$	158,258
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.74	%		0.90	%		0.66	%		0.60	%		0.49	%
After Expense Reimbursement		0.34	%		0.34	%		0.34	%		0.34	%		0.34	%
Ratio of Net Investment Income to Average Net Assets		4.08	%		4.39	%		4.37	%		2.40	%		0.66	%
Portfolio Turnover Rate (2)(3)		552	%		553	%		544	%		479	%		336	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

247

TCW MetWest Ultra Short Bond Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	4.15		$	4.09		$	4.10		$	4.18		$	4.25
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.16			0.17			0.17			0.09			0.02
Net Realized and Unrealized Gain (Loss) on Investments		0.02			0.06			(0.00	) (2)		(0.07	)		(0.07	)
Total from Investment Operations		0.18			0.23			0.17			0.02			(0.05	)
Less Distributions:
Distributions from Net Investment Income		(0.16	)		(0.17	)		(0.18	)		(0.10	)		(0.02	)
Total Distributions		(0.16	)		(0.17	)		(0.18	)		(0.10	)		(0.02	)
Net Asset Value per Share, End of year	$	4.17		$	4.15		$	4.09		$	4.10		$	4.18
Total Return		4.47	%		5.82	%		4.14	%		0.49	%		(1.14	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	7,036		$	11,205		$	12,917		$	19,995		$	39,477
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.12	%		1.06	%		0.84	%		0.75	%		0.64	%
After Expense Reimbursement		0.50	%		0.50	%		0.50	%		0.50	%		0.50	%
Ratio of Net Investment Income to Average Net Assets		3.95	%		4.23	%		4.25	%		2.24	%		0.49	%
Portfolio Turnover Rate (3)(4)		552	%		553	%		544	%		479	%		336	%

(1) Computed using average shares outstanding throughout the period.

(2) Amount is greater than $(0.005) per share.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(4) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

248

TCW MetWest Unconstrained Bond Fund

Financial Highlights — Class I Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	10.38		$	10.30		$	10.40		$	11.16		$	11.95
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.45			0.67			0.68			0.53			0.33
Net Realized and Unrealized Gain (Loss) on Investments		0.14			0.08			(0.10	)		(0.73	)		(0.66	)
Total from Investment Operations		0.59			0.75			0.58			(0.20	)		(0.33	)
Less Distributions:
Distributions from Net Investment Income		(0.59	)		(0.67	)		(0.67	)		(0.56	)		(0.33	)
Distributions from Net Realized Gain		—			—			—			—			(0.13	)
Distributions from Return of Capital		—			—			(0.01	)		—			—
Total Distributions		(0.59	)		(0.67	)		(0.68	)		(0.56	)		(0.46	)
Net Asset Value per Share, End of year	$	10.38		$	10.38		$	10.30		$	10.40		$	11.16
Total Return		5.87	%		7.53	%		5.87	%		(1.65	%)		(2.88	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	2,184,610		$	2,133,046		$	2,035,211		$	2,353,053		$	3,648,832
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.74	%		0.75	%		0.75	%		0.76	%		0.74	%
After Expense Reimbursement		0.72	%		0.75	%		0.75	%		0.76	%		0.74	%
Ratio of Net Investment Income to Average Net Assets		4.32	%		6.53	%		6.65	%		5.04	%		2.79	%
Portfolio Turnover Rate (2)(3)		254	%		188	%		257	%		223	%		182	%

(1) Computed using average shares outstanding throughout the period.

(2) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(3) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

249

TCW MetWest Unconstrained Bond Fund

Financial Highlights — Class I-3 Shares

	Period Ended March 31, 2026
Net Asset Value per Share, Beginning of period	$	10.00	(1)
Income (Loss) from Investment Operations:
Net Investment Income (2)		0.19
Net Realized and Unrealized Gain on Investments		0.08
Total from Investment Operations		0.27
Less Distributions:
Distributions from Net Investment Income		(0.30	)
Total Distributions		(0.30	)
Net Asset Value per Share, End of period	$	9.97
Total Return		2.74	% (3)
Ratios/Supplemental data:
Net Assets, End of period (in thousands)	$	10
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		101.29	% (4)
After Expense Reimbursement		0.90	% (4)
Ratio of Net Investment Income to Average Net Assets		3.22	% (4)
Portfolio Turnover Rate (5)(6)		254	% (3)

(1) For the period August 26, 2025 (Commencement of Operations) through March 31, 2026.

(2) Computed using average shares outstanding throughout the period.

(3) Not annualized.

(4) Annualized.

(5) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(6) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

250

TCW MetWest Unconstrained Bond Fund

Financial Highlights — Class M Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	10.39		$	10.31		$	10.41		$	11.17		$	11.96
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.42			0.65			0.65			0.51			0.30
Net Realized and Unrealized Gain (Loss) on Investments		0.13			0.07			(0.09	)		(0.74	)		(0.66	)
Total from Investment Operations		0.55			0.72			0.56			(0.23	)		(0.36	)
Less Distributions:
Distributions from Net Investment Income		(0.55	)		(0.64	)		(0.65	)		(0.53	)		(0.30	)
Distributions from Net Realized Gain		—			—			—			—			(0.13	)
Distributions from Return of Capital		—			—			(0.01	)		—			—
Total Distributions		(0.55	)		(0.64	)		(0.66	)		(0.53	)		(0.43	)
Net Asset Value per Share, End of year	$	10.39		$	10.39		$	10.31		$	10.41		$	11.17
Total Return		5.54	%		7.23	%		5.57	%		(1.93	%)		(3.15	%)
Ratios/Supplemental data:
Net Assets, End of year (in thousands)	$	122,042		$	135,199		$	141,736		$	160,181		$	214,792
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		1.05	%		1.03	% (2)		1.04	% (3)		1.04	%		1.02	%
After Expense Reimbursement		1.03	%		1.03	%		1.04	%		1.04	%		1.02	%
Ratio of Net Investment Income to Average Net Assets		4.01	%		6.27	%		6.37	%		4.81	%		2.50	%
Portfolio Turnover Rate (4)(5)		254	%		188	%		257	%		223	%		182	%

(1) Computed using average shares outstanding throughout the period.

(2) Includes recoupment of past waived fees. Excluding the recoupment of past waived fees, the ratio would have been 1.03%.

(3) Includes recoupment of past waived fees. Excluding the recoupment of past waived fees, the ratio would have been 1.04%.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(5) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

See accompanying Notes to Financial Statements.

251

TCW MetWest Unconstrained Bond Fund

Financial Highlights — Plan Class Shares

	Year Ended March 31,
	2026			2025			2024			2023			2022
Net Asset Value per Share, Beginning of year	$	10.37		$	10.30		$	10.40		$	11.15		$	11.94
Income (Loss) from Investment Operations:
Net Investment Income (1)		0.46			0.68			0.69			0.56			0.34
Net Realized and Unrealized Gain (Loss) on Investments		0.14			0.07			(0.10	)		(0.74	)		(0.66	)
Total from Investment Operations		0.60			0.75			0.59			(0.18	)		(0.32	)
Less Distributions:
Distributions from Net Investment Income		(0.59	)		(0.68	)		(0.68	)		(0.57	)		(0.34	)
Distributions from Net Realized Gain		—			—			—			—			(0.13	)
Distributions from Return of Capital		—			—			(0.01	)		—			—
Total Distributions		(0.59	)		(0.68	)		(0.69	)		(0.57	)		(0.47	)
Net Asset Value per Share, End of year	$	10.38		$	10.37		$	10.30		$	10.40		$	11.15
Total Return		5.92	%		7.49	%		5.93	%		(1.50	%)		(2.83	%)
Ratios/Supplemental Data:
Net Assets, End of year (in thousands)	$	361,172		$	476,776		$	397,728		$	352,297		$	120,524
Ratio of Expenses to Average Net Assets:
Before Expense Reimbursement		0.68	%		0.69	%		0.70	% (2)		0.70	%		0.69	%
After Expense Reimbursement		0.68	%		0.69	%		0.70	%		0.70	%		0.69	%
Ratio of Net Investment Income to Average Net Assets		4.37	%		6.60	%		6.73	%		5.41	%		2.87	%
Portfolio Turnover Rate (3)(4)		254	%		188	%		257	%		223	%		182	%

(1) Computed using average shares outstanding throughout the period.

(2) Includes recoupment of past waived fees. Excluding the recoupment of past waived fees, the ratio would have been 0.69%.

(3) The portfolio turnover rate includes mortgage dollar roll transactions and taxable corporate actions.

(4) The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

See accompanying Notes to Financial Statements.

252

TCW Metropolitan West Funds

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Trustees of TCW Metropolitan West Funds

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statements of assets and liabilities of TCW Metropolitan West Funds comprising of the TCW MetWest Sustainable Securitized Fund, TCW MetWest High Yield Bond Fund, TCW MetWest Investment Grade Credit Fund, TCW MetWest Low Duration Bond Fund, TCW MetWest Strategic Income Fund, TCW MetWest Ultra Short Bond Fund, and TCW MetWest Unconstrained Bond Fund and the consolidated statement of assets and liabilities of TCW MetWest Total Return Bond Fund (the “Funds”), including the schedules of investments of TCW MetWest Sustainable Securitized Fund, TCW MetWest High Yield Bond Fund, TCW MetWest Investment Grade Credit Fund, TCW MetWest Low Duration Bond Fund, TCW MetWest Strategic Income Fund, TCW MetWest Ultra Short Bond Fund, and TCW MetWest Unconstrained Bond Fund and the consolidated schedule of investments of TCW MetWest Total Return Bond Fund, as of March 31, 2026, the related statements of operations for TCW MetWest Sustainable Securitized Fund, TCW MetWest High Yield Bond Fund, TCW MetWest Investment Grade Credit Fund, TCW MetWest Low Duration Bond Fund, TCW MetWest Strategic Income Fund, TCW MetWest Ultra Short Bond Fund, and TCW MetWest Unconstrained Bond Fund and the consolidated statement of operations for TCW MetWest Total Return Bond Fund for the year then ended, the statements of changes in net assets for TCW MetWest Sustainable Securitized Fund, TCW MetWest High Yield Bond Fund, TCW MetWest Investment Grade Credit Fund, TCW MetWest Low Duration Bond Fund, TCW MetWest Strategic Income Fund, TCW MetWest Ultra Short Bond Fund, and TCW MetWest Unconstrained Bond Fund and the consolidated statement of changes in net assets for TCW MetWest Total Return Bond Fund for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended for the Funds, and the related notes (collectively referred to as the “financial statements and financial highlights”). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds listed above constituting TCW Metropolitan West Funds as of March 31, 2026, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal

253

TCW Metropolitan West Funds

control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers, and agent banks; when replies were not received from brokers and agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Los Angeles, California

May 29, 2026

We have served as the auditor of one or more TCW/Metropolitan West Funds investment companies since 1990.

254

TCW Metropolitan West Funds

Supplemental Information

Proxy Voting Guidelines

The policies and procedures that the Trust uses to determine how to vote proxies are available without charge. The Board has delegated the Trust’s proxy voting authority to the Adviser.

Disclosure of Proxy Voting Guidelines

The proxy voting guidelines of the Adviser are available:

1. By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

2. By going to the TCW website at https://www.tcw.com/Global-Proxy-Voting-Policy; or

3. By going to the SEC website at http://www.sec.gov.

When the Trust receives a request for a description of the Adviser’s proxy voting guidelines, it will deliver the description that is disclosed in the Trust’s Statement of Additional Information. This information will be sent out via first class mail (or other means designed to ensure equally prompt delivery) within three business days of receiving the request.

The Adviser, on behalf of the Trust, prepares and files Form N-PX with the SEC not later than August 31 of each year, which includes the Trust’s proxy voting record for the most recent twelve-month period ended June 30 of that year. The Trust’s proxy voting record for the most recent twelve-month period ended June 30 is available:

1. By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

2. By going to the SEC website at http://www.sec.gov.

When the Trust receives a request for the Trust’s proxy voting record, it will send the information disclosed in the Trust’s most recently filed report on Form N-PX via first class mail (or other means designed to ensure equally prompt delivery) within three business days of receiving the request.

The Trust also discloses its proxy voting record on its website as soon as is reasonably practicable after its report on Form N-PX is filed with the SEC at https://www.tcw.com/Resources/Proxy-Voting.

Availability of Quarterly Portfolio Schedule

The Trust files a complete schedule of its portfolio holdings with the SEC for the first and third quarters of its fiscal year on Form NPORT-P. Such filings occur no later than 60 days after the end of the Funds’ first and third quarters and are available on the SEC’s website at www.sec.gov.

255

TCW MetWest Funds

515 South Flower Street

Los Angeles, CA 90071

800 386 3829

tcw.com

Board of Trustees Patrick C. Haden Martin Luther King III Richard M. Villa Peter McMillan Victoria B. Rogers Robert G. Rooney Michael Swell Andrew Tarica David Vick   Adviser Metropolitan West Asset Management, LLC 515 South Flower Street Los Angeles, CA 90071   Custodian State Street Bank & Trust Company One Congress Street, Suite 1 Boston, MA 02114-2016   Transfer Agent U.S. Bank Global Fund Services P.O. Box 219252 Kansas City, MO 64121 Officers Richard M. Villa President, Principal Executive Officer, Treasurer, Principal Financial Officer, and Principal Accounting Officer   Drew Bowden Executive Vice President   Eric Chan Assistant Treasurer   Peter Davidson Vice President and Secretary   Lisa Eisen Tax Officer   Alenoush Terzian Chief Compliance Officer and Anti-Money Laundering Officer Independent Registered Public Accounting Firm Deloitte & Touche LLP 555 West 5th Street, Suite 2700 Los Angeles, CA 90013   Distributor TCW Funds Distributors LLC 515 South Flower Street Los Angeles, CA 90071   For Additional Information Call 800 FUND TCW (800 386 3829) or visit tcw.com

A description of the Funds’ proxy voting policies, procedures, and how the Funds voted proxies relating to their portfolios’ securities during the most recent 12-month period ending June 30 are available (i) without charge, upon request, by calling 800 386 3829; or (ii) on the Securities and Exchange Commission’s website at www.sec.gov.

In addition to its annual and semi-annual reports, the Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. Such filings occur no later than 60 days after the end of the Funds’ first and third quarters and are available on the SEC’s website at www.sec.gov.

To reduce expenses, we may mail only one copy of the Fund’s prospectus and each annual and semi-annual report to those addresses shared by two or more accounts. If you wish to receive individual copies of these documents, please call us at 800 386 3829 (or contact your financial institution). We will begin sending you individual copies thirty days after receiving your request.

This report is submitted for general information to the shareholders of the Funds. It is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective Prospectus, which includes details regarding the Funds’ objectives, policies, expenses and other information.

(b) The registrant’s Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form N-CSR.

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies is included as part of the Financial Statements filed under Item 7(a) of this Form N-CSR.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Not applicable.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of trustees since the registrant last provided disclosure in response to this Item.

Item 16. Controls and Procedures.

(a) The Principal Executive Officer and Principal Financial and Accounting Officer have concluded, as of a date within 90 days of the filing date of this report, that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act) are effective, as of such date, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19. Exhibits.

(a)(1) Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is filed herewith.

(a)(2) Not applicable.

(a)(3) The certification required by Rule 30a-2(a) of the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”) is filed herewith.

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) The certification required by Rule 30a-2(b) of the 1940 Act and Section 906 of the Sarbanes-Oxley Act is filed herewith.

(101) Inline Interactive Data File - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)	TCW Metropolitan West Funds
By (Signature and Title)
	/s/ Richard M. Villa
	Richard M. Villa
	President, Principal Executive Officer, Treasurer, and Principal Financial and Accounting Officer
Date	June 5, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By (Signature and Title)
	/s/ Richard M. Villa
	Richard M. Villa
	President, Principal Executive Officer, Treasurer, and Principal Financial and Accounting Officer
Date	June 5, 2026