PORTFOLIO OF INVESTMENTS – as of June 30, 2021 (Unaudited)

Loomis Sayles Small Cap Value Fund

Shares		Description	Value (†)
Common Stocks – 97.9% of Net Assets
		Aerospace & Defense – 0.6%
	64,675	BWX Technologies, Inc.	$	3,758,911
		Auto Components – 2.8%
	260,086	Dana, Inc.		6,179,643
	10,859	Fox Factory Holding Corp.(a)		1,690,312
	230,509	Garrett Motion, Inc.(a)		1,839,462
	144,798	Goodyear Tire & Rubber Co. (The)(a)		2,483,286
	40,937	LCI Industries		5,379,940
				17,572,643
		Banks – 12.9%
	141,724	Ameris Bancorp		7,175,486
	166,097	Atlantic Union Bankshares Corp.		6,016,033
	166,711	BancorpSouth Bank		4,722,923
	126,930	Bryn Mawr Bank Corp.		5,355,177
	181,713	CVB Financial Corp.		3,741,471
	237,383	Home BancShares, Inc.		5,858,612
	197,283	OceanFirst Financial Corp.		4,111,378
	85,059	Pinnacle Financial Partners, Inc.		7,509,859
	116,898	Popular, Inc.		8,773,195
	66,748	Prosperity Bancshares, Inc.		4,792,506
	60,958	South State Corp.		4,983,926
	118,570	Triumph Bancorp, Inc.(a)		8,803,823
	104,462	Wintrust Financial Corp.		7,900,461
				79,744,850
		Beverages – 0.8%
	295,513	Primo Water Corp.		4,943,933
		Biotechnology – 0.8%
	28,630	United Therapeutics Corp.(a)		5,136,508
		Building Products – 2.4%
	23,777	American Woodmark Corp.(a)		1,942,343
	32,080	Armstrong World Industries, Inc.		3,440,901
	154,015	Quanex Building Products Corp.		3,825,733
	72,186	UFP Industries, Inc.		5,366,307
				14,575,284
		Capital Markets – 2.0%
	157,732	Donnelley Financial Solutions, Inc.(a)		5,205,156
	109,430	Stifel Financial Corp.		7,097,630
				12,302,786
		Chemicals – 2.6%
	37,204	Ashland Global Holdings, Inc.		3,255,350
	76,932	Cabot Corp.		4,379,739
	31,072	Ingevity Corp.(a)		2,528,018

Shares		Description	Value (†)
Common Stocks – continued
		Chemicals – continued
	179,393	Valvoline, Inc.	$	5,823,097
				15,986,204
		Commercial Services & Supplies – 2.2%
	53,607	Clean Harbors, Inc.(a)		4,992,956
	76,987	IAA, Inc.(a)		4,198,871
	178,417	KAR Auction Services, Inc.(a)		3,131,218
	24,903	VSE Corp.		1,232,948
				13,555,993
		Communications Equipment – 0.8%
	273,475	Viavi Solutions, Inc.(a)		4,829,569
		Construction & Engineering – 2.2%
	105,206	AECOM(a)		6,661,644
	120,156	Arcosa, Inc.		7,057,963
				13,719,607
		Consumer Finance – 0.7%
	94,994	PROG Holdings, Inc.		4,572,061
		Distributors – 0.8%
	111,404	Core-Mark Holding Co., Inc.		5,014,294
		Diversified Consumer Services – 1.3%
	99,437	frontdoor, Inc.(a)		4,953,951
	259,010	Houghton Mifflin Harcourt Co.(a)		2,859,471
				7,813,422
		Diversified Financial Services – 0.7%
	133,327	Cannae Holdings, Inc.(a)		4,521,119
		Diversified Telecommunication Services – 0.4%
	160,324	Liberty Latin America Ltd., Class C(a)		2,260,568
		Electric Utilities – 0.8%
	72,343	ALLETE, Inc.		5,062,563
		Electrical Equipment – 2.1%
	52,846	Atkore, Inc.(a)		3,752,066
	35,203	AZZ, Inc.		1,822,811
	282,327	Vertiv Holdings Co.		7,707,527
				13,282,404
		Electronic Equipment, Instruments & Components – 5.2%
	38,303	Advanced Energy Industries, Inc.		4,317,131
	126,191	Kimball Electronics, Inc.(a)		2,743,392
	12,733	Littelfuse, Inc.		3,244,241
	157,397	Methode Electronics, Inc.		7,745,507
	31,859	SYNNEX Corp.		3,879,152
	355,177	TTM Technologies, Inc.(a)		5,079,031

Shares		Description	Value (†)
Common Stocks – continued
		Electronic Equipment, Instruments & Components – continued
	152,150	Vontier Corp.	$	4,957,047
				31,965,501
		Energy Equipment & Services – 2.3%
	358,169	ChampionX Corp.(a)		9,187,035
	87,531	DMC Global, Inc.(a)		4,920,117
				14,107,152
		Entertainment – 0.5%
	113,210	Liberty Media Corp.-Liberty Braves, Class C(a)		3,143,842
		Food Products – 3.0%
	51,286	Darling Ingredients, Inc.(a)		3,461,805
	19,326	J&J Snack Foods Corp.		3,370,647
	260,236	Nomad Foods Ltd.(a)		7,356,872
	288,696	Whole Earth Brands, Inc.(a)		4,186,092
				18,375,416
		Health Care Equipment & Supplies – 2.7%
	30,936	CONMED Corp.		4,251,534
	87,395	Inmode Ltd.(a)		8,274,559
	157,238	Lantheus Holdings, Inc.(a)		4,346,058
				16,872,151
		Health Care Providers & Services – 0.3%
	20,633	AMN Healthcare Services, Inc.(a)		2,000,988
		Health Care Technology – 1.1%
	372,841	Allscripts Healthcare Solutions, Inc.(a)		6,901,287
		Hotels, Restaurants & Leisure – 2.3%
	25,437	Churchill Downs, Inc.		5,043,140
	14,794	Cracker Barrel Old Country Store, Inc.		2,196,317
	42,201	Marriott Vacations Worldwide Corp.(a)		6,722,619
				13,962,076
		Household Durables – 2.4%
	21,602	Helen of Troy Ltd.(a)		4,927,848
	106,882	KB Home		4,352,235
	103,636	Skyline Champion Corp.(a)		5,523,799
				14,803,882
		Household Products – 0.5%
	39,743	Spectrum Brands Holdings, Inc.		3,379,745
		Independent Power & Renewable Electricity Producers – 1.1%
	88,036	NextEra Energy Partners LP		6,722,429
		Industrial Conglomerates – 0.3%
	27,133	Raven Industries, Inc.		1,569,644
		Insurance – 1.8%
	118,835	Employers Holdings, Inc.		5,086,138

Shares		Description	Value (†)
Common Stocks – continued
		Insurance – continued
	101,004	First American Financial Corp.	$	6,297,599
				11,383,737
		Internet & Direct Marketing Retail – 0.6%
	308,501	Qurate Retail, Inc., Class A		4,038,278
		IT Services – 4.6%
	54,637	Concentrix Corp.(a)		8,785,630
	78,836	CSG Systems International, Inc.		3,719,482
	32,352	Euronet Worldwide, Inc.(a)		4,378,843
	151,918	International Money Express, Inc.(a)		2,255,982
	208,244	Unisys Corp.(a)		5,270,656
	21,083	WEX, Inc.(a)		4,087,994
				28,498,587
		Leisure Products – 1.1%
	67,791	Brunswick Corp.		6,753,339
		Machinery – 7.1%
	43,456	Alamo Group, Inc.		6,634,862
	54,099	Albany International Corp., Class A		4,828,877
	116,644	Altra Industrial Motion Corp.		7,584,193
	126,859	Columbus McKinnon Corp.		6,119,678
	25,290	John Bean Technologies Corp.		3,606,860
	41,730	Kadant, Inc.		7,348,235
	103,261	Miller Industries, Inc.		4,072,614
	117,548	TriMas Corp.(a)		3,565,231
				43,760,550
		Marine – 1.2%
	390,577	Genco Shipping & Trading Ltd.		7,374,094
		Media – 2.2%
	207,501	Gray Television, Inc.		4,855,523
	67,117	John Wiley & Sons, Inc., Class A		4,039,101
	20,720	Liberty Broadband Corp., Class C(a)		3,598,235
	31,032	Thryv Holdings, Inc.(a)		1,110,015
				13,602,874
		Multi-Utilities – 1.5%
	181,456	MDU Resources Group, Inc.		5,686,831
	60,243	NorthWestern Corp.		3,627,834
				9,314,665
		Pharmaceuticals – 1.2%
	30,571	Catalent, Inc.(a)		3,305,336
	141,553	Supernus Pharmaceuticals, Inc.(a)		4,358,417
				7,663,753
		Professional Services – 3.0%
	54,115	Insperity, Inc.		4,890,373
	111,960	Korn Ferry		8,122,698

Shares		Description	Value (†)
Common Stocks – continued
		Professional Services – continued
	63,089	Science Applications International Corp.	$	5,534,798
				18,547,869
		REITs - Single Tenant – 0.8%
	72,062	Agree Realty Corp.		5,079,650
		REITs - Storage – 0.9%
	116,686	CubeSmart		5,404,896
		REITs - Warehouse/Industrials – 2.6%
	136,859	Americold Realty Trust		5,180,113
	97,818	Rexford Industrial Realty, Inc.		5,570,735
	140,795	STAG Industrial, Inc.		5,269,957
				16,020,805
		Semiconductors & Semiconductor Equipment – 1.8%
	206,425	Rambus, Inc.(a)		4,894,337
	216,090	Tower Semiconductor Ltd.(a)		6,359,529
				11,253,866
		Software – 0.9%
	85,938	ACI Worldwide, Inc.(a)		3,191,738
	49,460	Verint Systems, Inc.(a)		2,229,162
				5,420,900
		Specialty Retail – 1.8%
	179,941	Aaron’s Co., Inc. (The)		5,756,313
	135,520	Urban Outfitters, Inc.(a)		5,586,134
				11,342,447
		Thrifts & Mortgage Finance – 2.1%
	48,610	Federal Agricultural Mortgage Corp., Class C		4,807,529
	161,454	Meta Financial Group, Inc.		8,174,416
				12,981,945
		Trading Companies & Distributors – 2.9%
	200,693	Alta Equipment Group, Inc.(a)		2,667,210
	87,675	Herc Holdings, Inc.(a)		9,825,737
	66,328	McGrath RentCorp		5,410,375
				17,903,322
		Water Utilities – 0.4%
	181,801	Pure Cycle Corp.(a)		2,512,490
		Wireless Telecommunication Services – 0.8%
	141,524	United States Cellular Corp.(a)		5,138,736
		Total Common Stocks (Identified Cost $369,599,117)		606,453,635

Shares			Description	Value (†)
Other Investments – 0.0%
			Metals & Mining – 0.0%
		507,316	Ferroglobe R&W Trust(a)(b)(c)(d) (Identified Cost $0)	$	—
Principal Amount
Short-Term Investments – 2.2%
	$	13,559,921	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/2021 at 0.000% to be repurchased at $13,559,921 on 7/01/2021 collateralized by $13,822,500 U.S. Treasury Note, 1.250% due 6/30/2028 valued at $13,831,139 including accrued interest(e) (Identified Cost $13,559,921)		13,559,921
			Total Investments – 100.1% (Identified Cost $383,159,038)		620,013,556
			Other assets less liabilities – (0.1)%		(552,359	)
			Net Assets – 100.0%	$	619,461,197

(†) Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:   Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available.   In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used.   Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers.   Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security.   Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Fund may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Fund’s net asset value (“NAV”) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine the Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by the Fund.   Illiquid securities for which market quotations are readily available and have been evaluated by the adviser are considered and classified as fair valued securities pursuant to the Fund’s pricing policies and procedures.   The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period.

(a)	Non-income producing security.
(b)	Illiquid security.
(c)	Security classified as fair valued pursuant to the Fund’s pricing policies and procedures.
(d)	Security subject to restrictions on resale. This security was acquired on November 29, 2016 at a cost of $0.
(e)	The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of June 30, 2021, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.
REITs	Real Estate Investment Trusts

Fair Value Measurements

In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:

• Level 1 — quoted prices in active markets for identical assets or liabilities;

• Level 2 — prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

• Level 3 — prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2021, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks*	$	606,453,635	$	—	$	—	$	606,453,635
Other Investments*		—		—		—		—
Short-Term Investments		—		13,559,921		—		13,559,921
Total	$	606,453,635	$	13,559,921	$	—	$	620,013,556

* Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Industry Summary at June 30, 2021 (Unaudited)

Banks	12.9	%
Machinery	7.1
Electronic Equipment, Instruments & Components	5.2
IT Services	4.6
Professional Services	3.0
Food Products	3.0
Trading Companies & Distributors	2.9
Auto Components	2.8
Health Care Equipment & Supplies	2.7
REITs - Warehouse/Industrials	2.6
Chemicals	2.6
Household Durables	2.4
Building Products	2.4
Energy Equipment & Services	2.3
Hotels, Restaurants & Leisure	2.3
Construction & Engineering	2.2
Media	2.2
Commercial Services & Supplies	2.2
Electrical Equipment	2.1
Thrifts & Mortgage Finance	2.1
Capital Markets	2.0
Other Investments, less than 2% each	26.3
Short-Term Investments	2.2
Total Investments	100.1
Other assets less liabilities	(0.1	)
Net Assets	100.0	%