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: 811-07170

TCW Funds, Inc.

(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: October 31

Date of reporting period: April 30, 2026

Item 1.

Reports to Shareholders.

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

TCW Central Cash Fund

Composite: TGCXX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Central Cash Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(based on a hypothetical $10,000 investment)

Table Summary
Fund Name	Cost of a $10,000 investment	Cost paid as a percentage of a $10,000 investment
Composite	$1	0.01%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$4,463,064,857
# of Portfolio Holdings37

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Repurchase Agreement	40.3%
U.S. Government Agency Obligations	37.6%
U.S. Treasury Securities	33.6%
Short-Term Investments	0.1%
Liabilities in Excess of Other Assets	(11.6%)

Top Ten Holdings (as a % of Net Assets)

Table Summary
Bank of America NA, 3.64%, due 05/01/26	11.2%
Barclays Capital, Inc., 3.64%, due 05/01/26	11.2%
JP Morgan Securities, 3.64%, due 05/01/26	11.2%
U.S. Treasury Bills, 3.65%, due 06/04/26	6.7%
Bank of Montreal, 3.64%, due 05/08/26	6.7%
U.S. Treasury Bills, 5.16%, due 05/07/26	5.9%
U.S. Treasury Bills, 3.67%, due 06/04/26	4.7%
U.S. Treasury Bills, 3.57%, due 06/11/26	3.1%
U.S. Treasury Bills, 3.69%, due 05/12/26	2.5%
U.S. Treasury Floating Rate Notes, 3.83%, due 10/31/26	2.2%

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 Central Cash Fund

Semi-Annual Shareholder Report — April 30, 2026

Composite: TGCXX

TSR TGCXX-0426

TCW Concentrated Large Cap Growth Fund

Class I-3: TGCZX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Concentrated Large Cap Growth Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$42	0.88%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$683,595,729
# of Portfolio Holdings31
Portfolio Turnover Rate9%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	48.4%
Communication Services	15.3%
Consumer Discretionary	8.6%
Financials	8.4%
Industrials	6.8%
Health Care	6.3%
Consumer Staples	3.3%
Real Estate	2.1%
Other^{Footnote Reference*}	0.8%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
NVIDIA Corp.	16.5%
Alphabet, Inc.	9.6%
Broadcom, Inc.	7.3%
Microsoft Corp.	6.6%
Amazon.com, Inc.	6.5%
Meta Platforms, Inc.	4.1%
Visa, Inc.	3.6%
ASML Holding NV	3.3%
Costco Wholesale Corp.	3.3%
Mastercard, Inc.	3.0%

Householding

Additional Information

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

TCW Concentrated Large Cap Growth Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TGCZX

TSR TGCZX-0426

TCW Concentrated Large Cap Growth Fund

Class I: TGCEX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$38	0.78%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$683,595,729
# of Portfolio Holdings31
Portfolio Turnover Rate9%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	48.4%
Communication Services	15.3%
Consumer Discretionary	8.6%
Financials	8.4%
Industrials	6.8%
Health Care	6.3%
Consumer Staples	3.3%
Real Estate	2.1%
Other^{Footnote Reference*}	0.8%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
NVIDIA Corp.	16.5%
Alphabet, Inc.	9.6%
Broadcom, Inc.	7.3%
Microsoft Corp.	6.6%
Amazon.com, Inc.	6.5%
Meta Platforms, Inc.	4.1%
Visa, Inc.	3.6%
ASML Holding NV	3.3%
Costco Wholesale Corp.	3.3%
Mastercard, Inc.	3.0%

Householding

Additional Information

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

TCW Concentrated Large Cap Growth Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGCEX

TSR TGCEX-0426

TCW Concentrated Large Cap Growth Fund

Class N: TGCNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$43	0.89%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$683,595,729
# of Portfolio Holdings31
Portfolio Turnover Rate9%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	48.4%
Communication Services	15.3%
Consumer Discretionary	8.6%
Financials	8.4%
Industrials	6.8%
Health Care	6.3%
Consumer Staples	3.3%
Real Estate	2.1%
Other^{Footnote Reference*}	0.8%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
NVIDIA Corp.	16.5%
Alphabet, Inc.	9.6%
Broadcom, Inc.	7.3%
Microsoft Corp.	6.6%
Amazon.com, Inc.	6.5%
Meta Platforms, Inc.	4.1%
Visa, Inc.	3.6%
ASML Holding NV	3.3%
Costco Wholesale Corp.	3.3%
Mastercard, Inc.	3.0%

Householding

Additional Information

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

TCW Concentrated Large Cap Growth Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGCNX

TSR TGCNX-0426

TCW Conservative Allocation Fund

Class I: TGPCX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Conservative Allocation Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$12	0.24%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$35,295,771
# of Portfolio Holdings20
Portfolio Turnover Rate14%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Diversified Fixed Income Funds	64.8%
Diversified Equity Funds	20.7%
Exchange-Traded Funds	13.7%
Exchange-Traded Notes	0.6%
Short-Term Investments	0.3%
Liabilities in Excess of Other Assets	(0.1%)

Top Ten Holdings (as a % of Net Assets)

Table Summary
TCW Securitized Bond Fund, Class I	24.7%
TCW MetWest Total Return Bonds Fund, Class I	23.3%
TCW MetWest Unconstrained Bonds Fund, Class I	10.6%
TCW Relative Value Large Cap Fund, Class I	10.3%
TCW Concentrated Large Cap Growth Fund, Class I	4.3%
TCW Artificial Intelligence ETF	4.0%
TCW Transform Systems ETF	3.3%
TCW Global Real Estate Fund, Class I	3.1%
TCW Global Bond Fund, Class I	2.5%
iShares MSCI EAFE ETF	2.2%

Householding

Additional Information

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

TCW Conservative Allocation Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGPCX

TSR TGPCX-0426

TCW Conservative Allocation Fund

Class N: TGPNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$34	0.68%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$35,295,771
# of Portfolio Holdings20
Portfolio Turnover Rate14%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Diversified Fixed Income Funds	64.8%
Diversified Equity Funds	20.7%
Exchange-Traded Funds	13.7%
Exchange-Traded Notes	0.6%
Short-Term Investments	0.3%
Liabilities in Excess of Other Assets	(0.1%)

Top Ten Holdings (as a % of Net Assets)

Table Summary
TCW Securitized Bond Fund, Class I	24.7%
TCW MetWest Total Return Bonds Fund, Class I	23.3%
TCW MetWest Unconstrained Bonds Fund, Class I	10.6%
TCW Relative Value Large Cap Fund, Class I	10.3%
TCW Concentrated Large Cap Growth Fund, Class I	4.3%
TCW Artificial Intelligence ETF	4.0%
TCW Transform Systems ETF	3.3%
TCW Global Real Estate Fund, Class I	3.1%
TCW Global Bond Fund, Class I	2.5%
iShares MSCI EAFE ETF	2.2%

Householding

Additional Information

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

TCW Conservative Allocation Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGPNX

TSR TGPNX-0426

TCW Core Fixed Income Fund

Class I-3: TGCQX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Core Fixed Income Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$26	0.53%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$478,173,680
# of Portfolio Holdings420
Portfolio Turnover Rate219%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	37.1%
U.S. Treasury Securities	29.7%
Corporate Bonds	14.8%
Short-Term Investments	8.8%
Asset-Backed Securities	8.4%
Residential Mortgage-Backed Securities - Non-Agency	8.2%
Commercial Mortgage-Backed Securities - Non-Agency	5.2%
Foreign Government Bonds	1.5%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(13.7%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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 04/30/31	10.6%
U.S. Treasury Notes, 3.75%, due 04/30/28	3.7%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.6%
U.S. Treasury Notes, 4.13%, due 02/15/36	3.5%
U.S. Treasury Notes, 4.13%, due 04/30/33	3.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.8%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.2%
U.S. Treasury Notes, 3.88%, due 03/31/28	2.1%
U.S. Treasury Bonds, 4.75%, due 02/15/56	1.8%

Householding

Additional Information

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

TCW Core Fixed Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TGCQX

TSR TGCQX-0426

TCW Core Fixed Income Fund

Class I: TGCFX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$24	0.49%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$478,173,680
# of Portfolio Holdings420
Portfolio Turnover Rate219%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	37.1%
U.S. Treasury Securities	29.7%
Corporate Bonds	14.8%
Short-Term Investments	8.8%
Asset-Backed Securities	8.4%
Residential Mortgage-Backed Securities - Non-Agency	8.2%
Commercial Mortgage-Backed Securities - Non-Agency	5.2%
Foreign Government Bonds	1.5%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(13.7%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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 04/30/31	10.6%
U.S. Treasury Notes, 3.75%, due 04/30/28	3.7%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.6%
U.S. Treasury Notes, 4.13%, due 02/15/36	3.5%
U.S. Treasury Notes, 4.13%, due 04/30/33	3.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.8%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.2%
U.S. Treasury Notes, 3.88%, due 03/31/28	2.1%
U.S. Treasury Bonds, 4.75%, due 02/15/56	1.8%

Householding

Additional Information

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

TCW Core Fixed Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGCFX

TSR TGCFX-0426

TCW Core Fixed Income Fund

Class N: TGFNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$29	0.59%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$478,173,680
# of Portfolio Holdings420
Portfolio Turnover Rate219%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	37.1%
U.S. Treasury Securities	29.7%
Corporate Bonds	14.8%
Short-Term Investments	8.8%
Asset-Backed Securities	8.4%
Residential Mortgage-Backed Securities - Non-Agency	8.2%
Commercial Mortgage-Backed Securities - Non-Agency	5.2%
Foreign Government Bonds	1.5%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(13.7%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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 04/30/31	10.6%
U.S. Treasury Notes, 3.75%, due 04/30/28	3.7%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.6%
U.S. Treasury Notes, 4.13%, due 02/15/36	3.5%
U.S. Treasury Notes, 4.13%, due 04/30/33	3.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.8%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.2%
U.S. Treasury Notes, 3.88%, due 03/31/28	2.1%
U.S. Treasury Bonds, 4.75%, due 02/15/56	1.8%

Householding

Additional Information

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

TCW Core Fixed Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGFNX

TSR TGFNX-0426

TCW Core Fixed Income Fund

Plan Class: TGCPX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$22	0.44%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$478,173,680
# of Portfolio Holdings420
Portfolio Turnover Rate219%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	37.1%
U.S. Treasury Securities	29.7%
Corporate Bonds	14.8%
Short-Term Investments	8.8%
Asset-Backed Securities	8.4%
Residential Mortgage-Backed Securities - Non-Agency	8.2%
Commercial Mortgage-Backed Securities - Non-Agency	5.2%
Foreign Government Bonds	1.5%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(13.7%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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 04/30/31	10.6%
U.S. Treasury Notes, 3.75%, due 04/30/28	3.7%
U.S. Treasury Bonds, 4.63%, due 02/15/46	3.6%
U.S. Treasury Notes, 4.13%, due 02/15/36	3.5%
U.S. Treasury Notes, 4.13%, due 04/30/33	3.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.8%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.2%
U.S. Treasury Notes, 3.88%, due 03/31/28	2.1%
U.S. Treasury Bonds, 4.75%, due 02/15/56	1.8%

Householding

Additional Information

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

TCW Core Fixed Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Plan Class: TGCPX

TSR TGCPX-0426

TCW Emerging Markets Income Fund

Class I-3: TGEZX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Emerging Markets Income Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$46	0.92%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$4,095,870,791
# of Portfolio Holdings291
Portfolio Turnover Rate42%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Government	58.4%
Short-Term Investments	13.8%
Energy	10.3%
Basic Materials	5.2%
Utilities	4.9%
Financial	4.1%
Industrial	1.4%
Communications	0.9%
Other^{Footnote Reference*}	1.0%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Argentina Republic Government International Bonds, 3.50%, due 07/09/41	1.8%
Angola Government International Bonds, 9.88%, due 10/15/35	1.6%
Argentina Republic Government International Bonds, 4.13%, due 07/09/35	1.6%
Saudi Arabian Oil Co., 5.25%, due 07/17/34	1.3%
Ecopetrol SA, 8.38%, due 01/19/36	1.1%
Mexico Government International Bonds, 6.88%, due 05/13/37	1.1%
Gabon Government International Bonds, 6.63%, due 02/06/31	1.1%
Hungary Government International Bonds, 5.50%, due 03/26/36	1.1%
Argentina Republic Government International Bonds, 5.00%, due 01/09/38	1.1%
Romania Government International Bonds, 7.13%, due 01/17/33	1.0%

Householding

Additional Information

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

TCW Emerging Markets Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TGEZX

TSR TGEZX-0426

TCW Emerging Markets Income Fund

Class I: TGEIX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$43	0.85%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$4,095,870,791
# of Portfolio Holdings291
Portfolio Turnover Rate42%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Government	58.4%
Short-Term Investments	13.8%
Energy	10.3%
Basic Materials	5.2%
Utilities	4.9%
Financial	4.1%
Industrial	1.4%
Communications	0.9%
Other^{Footnote Reference*}	1.0%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Argentina Republic Government International Bonds, 3.50%, due 07/09/41	1.8%
Angola Government International Bonds, 9.88%, due 10/15/35	1.6%
Argentina Republic Government International Bonds, 4.13%, due 07/09/35	1.6%
Saudi Arabian Oil Co., 5.25%, due 07/17/34	1.3%
Ecopetrol SA, 8.38%, due 01/19/36	1.1%
Mexico Government International Bonds, 6.88%, due 05/13/37	1.1%
Gabon Government International Bonds, 6.63%, due 02/06/31	1.1%
Hungary Government International Bonds, 5.50%, due 03/26/36	1.1%
Argentina Republic Government International Bonds, 5.00%, due 01/09/38	1.1%
Romania Government International Bonds, 7.13%, due 01/17/33	1.0%

Householding

Additional Information

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

TCW Emerging Markets Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGEIX

TSR TGEIX-0426

TCW Emerging Markets Income Fund

Class N: TGINX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$47	0.94%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$4,095,870,791
# of Portfolio Holdings291
Portfolio Turnover Rate42%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Government	58.4%
Short-Term Investments	13.8%
Energy	10.3%
Basic Materials	5.2%
Utilities	4.9%
Financial	4.1%
Industrial	1.4%
Communications	0.9%
Other^{Footnote Reference*}	1.0%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Argentina Republic Government International Bonds, 3.50%, due 07/09/41	1.8%
Angola Government International Bonds, 9.88%, due 10/15/35	1.6%
Argentina Republic Government International Bonds, 4.13%, due 07/09/35	1.6%
Saudi Arabian Oil Co., 5.25%, due 07/17/34	1.3%
Ecopetrol SA, 8.38%, due 01/19/36	1.1%
Mexico Government International Bonds, 6.88%, due 05/13/37	1.1%
Gabon Government International Bonds, 6.63%, due 02/06/31	1.1%
Hungary Government International Bonds, 5.50%, due 03/26/36	1.1%
Argentina Republic Government International Bonds, 5.00%, due 01/09/38	1.1%
Romania Government International Bonds, 7.13%, due 01/17/33	1.0%

Householding

Additional Information

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

TCW Emerging Markets Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGINX

TSR TGINX-0426

TCW Emerging Markets Income Fund

Plan Class: TGEPX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	0.77%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$4,095,870,791
# of Portfolio Holdings291
Portfolio Turnover Rate42%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Government	58.4%
Short-Term Investments	13.8%
Energy	10.3%
Basic Materials	5.2%
Utilities	4.9%
Financial	4.1%
Industrial	1.4%
Communications	0.9%
Other^{Footnote Reference*}	1.0%
Other Assets in Excess of Liabilities	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Argentina Republic Government International Bonds, 3.50%, due 07/09/41	1.8%
Angola Government International Bonds, 9.88%, due 10/15/35	1.6%
Argentina Republic Government International Bonds, 4.13%, due 07/09/35	1.6%
Saudi Arabian Oil Co., 5.25%, due 07/17/34	1.3%
Ecopetrol SA, 8.38%, due 01/19/36	1.1%
Mexico Government International Bonds, 6.88%, due 05/13/37	1.1%
Gabon Government International Bonds, 6.63%, due 02/06/31	1.1%
Hungary Government International Bonds, 5.50%, due 03/26/36	1.1%
Argentina Republic Government International Bonds, 5.00%, due 01/09/38	1.1%
Romania Government International Bonds, 7.13%, due 01/17/33	1.0%

Householding

Additional Information

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

TCW Emerging Markets Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Plan Class: TGEPX

TSR TGEPX-0426

TCW Emerging Markets Local Currency Income Fund

Class I: TGWIX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Emerging Markets Local Currency Income Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$43	0.85%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$57,174,221
# of Portfolio Holdings121
Portfolio Turnover Rate68%

What did the Fund invest in?

Country Composition (as a % of Net Assets)

Table Summary
Short-Term Investments	18.7%
Brazil	11.6%
South Africa	9.0%
Malaysia	7.7%
Mexico	6.7%
Czech Republic	5.5%
Thailand	5.3%
Poland	5.0%
Colombia	4.2%
Other^{Footnote Reference*}	22.5%
Other Assets in Excess of Liabilities	3.8%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Brazil Notas do Tesouro Nacional, 10.00%, due 01/01/31	7.6%
Indonesia Treasury Bonds, 6.50%, due 04/15/36	4.1%
Brazil Notas do Tesouro Nacional, 6.00%, due 05/15/35	4.0%
Turkiye Government Bonds, 37.84%, due 07/14/27	3.5%
Czech Republic Government Bonds, 3.50%, due 05/30/35	3.4%
Republic of South Africa Government Bonds, 8.75%, due 01/31/44	2.2%
China Government Bonds, 2.57%, due 05/20/54	2.2%
Thailand Government Bonds, 2.98%, due 06/17/45	2.1%
Hungary Government Bonds, 3.25%, due 10/22/31	2.1%
Republic of South Africa Government Bonds, 8.88%, due 02/28/35	2.0%

Householding

Additional Information

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

TCW Emerging Markets Local Currency Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGWIX

TSR TGWIX-0426

TCW Emerging Markets Local Currency Income Fund

Class N: TGWNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$46	0.90%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$57,174,221
# of Portfolio Holdings121
Portfolio Turnover Rate68%

What did the Fund invest in?

Country Composition (as a % of Net Assets)

Table Summary
Short-Term Investments	18.7%
Brazil	11.6%
South Africa	9.0%
Malaysia	7.7%
Mexico	6.7%
Czech Republic	5.5%
Thailand	5.3%
Poland	5.0%
Colombia	4.2%
Other^{Footnote Reference*}	22.5%
Other Assets in Excess of Liabilities	3.8%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Brazil Notas do Tesouro Nacional, 10.00%, due 01/01/31	7.6%
Indonesia Treasury Bonds, 6.50%, due 04/15/36	4.1%
Brazil Notas do Tesouro Nacional, 6.00%, due 05/15/35	4.0%
Turkiye Government Bonds, 37.84%, due 07/14/27	3.5%
Czech Republic Government Bonds, 3.50%, due 05/30/35	3.4%
Republic of South Africa Government Bonds, 8.75%, due 01/31/44	2.2%
China Government Bonds, 2.57%, due 05/20/54	2.2%
Thailand Government Bonds, 2.98%, due 06/17/45	2.1%
Hungary Government Bonds, 3.25%, due 10/22/31	2.1%
Republic of South Africa Government Bonds, 8.88%, due 02/28/35	2.0%

Householding

Additional Information

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

TCW Emerging Markets Local Currency Income Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGWNX

TSR TGWNX-0426

TCW Global Bond Fund

Class I: TGGBX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Global Bond Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$30	0.60%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$20,431,303
# of Portfolio Holdings405
Portfolio Turnover Rate142%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Foreign Government Bonds	45.5%
Residential Mortgage-Backed Securities - Agency	22.7%
Short-Term Investments	13.0%
Corporate Bonds	10.5%
Asset-Backed Securities	8.0%
Commercial Mortgage-Backed Securities - Non-Agency	4.8%
Residential Mortgage-Backed Securities - Non-Agency	4.3%
U.S. Treasury Securities	2.3%
Other Security Types^{Footnote Reference*}	1.2%
Liabilities in Excess of Other Assets	(12.3%)

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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, 3.50%, due 01/01/52	3.2%
Japan Government Ten Year Bonds, 2.10%, due 12/20/35	3.1%
U.K. Gilts, 4.13%, due 03/07/31	3.1%
U.K. Gilts, 4.50%, due 03/07/35	3.0%
China Government Bonds, 1.63%, due 10/25/30	2.9%
China Government Bonds, 1.83%, due 08/25/35	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	2.4%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.0%
U.K. Gilts, 4.38%, due 03/07/28	2.0%
Bundesrepublik Deutschland Bundesanleihe, 2.60%, due 08/15/35	1.8%

Householding

Additional Information

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

TCW Global Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGGBX

TSR TGGBX-0426

TCW Global Bond Fund

Class N: TGGFX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$35	0.70%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$20,431,303
# of Portfolio Holdings405
Portfolio Turnover Rate142%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Foreign Government Bonds	45.5%
Residential Mortgage-Backed Securities - Agency	22.7%
Short-Term Investments	13.0%
Corporate Bonds	10.5%
Asset-Backed Securities	8.0%
Commercial Mortgage-Backed Securities - Non-Agency	4.8%
Residential Mortgage-Backed Securities - Non-Agency	4.3%
U.S. Treasury Securities	2.3%
Other Security Types^{Footnote Reference*}	1.2%
Liabilities in Excess of Other Assets	(12.3%)

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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, 3.50%, due 01/01/52	3.2%
Japan Government Ten Year Bonds, 2.10%, due 12/20/35	3.1%
U.K. Gilts, 4.13%, due 03/07/31	3.1%
U.K. Gilts, 4.50%, due 03/07/35	3.0%
China Government Bonds, 1.63%, due 10/25/30	2.9%
China Government Bonds, 1.83%, due 08/25/35	2.4%
Uniform Mortgage-Backed Security, TBA, 4.00%, due 06/01/55	2.4%
Uniform Mortgage-Backed Security, TBA, 4.50%, due 02/01/56	2.0%
U.K. Gilts, 4.38%, due 03/07/28	2.0%
Bundesrepublik Deutschland Bundesanleihe, 2.60%, due 08/15/35	1.8%

Householding

Additional Information

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

TCW Global Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGGFX

TSR TGGFX-0426

TCW Global Real Estate Fund

Class I: TGREX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Global Real Estate Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$47	0.90%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$43,085,364
# of Portfolio Holdings33
Portfolio Turnover Rate45%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Specialized REITs	31.7%
Industrial REITs	15.5%
Hotels, Restaurants & Leisure	9.6%
Health Care REITs	8.3%
Real Estate Management & Development	8.1%
Residential REITs	6.6%
Diversified REITs	4.9%
Office REITs	4.0%
Other^{Footnote Reference*}	11.3%
Liabilities in Excess of Other Assets	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Equinix, Inc.	8.8%
Welltower, Inc.	8.3%
Prologis, Inc.	7.4%
Iron Mountain, Inc.	5.7%
Digital Realty Trust, Inc.	4.8%
InterContinental Hotels Group PLC	4.2%
Dexus	4.0%
Mid-America Apartment Communities, Inc.	3.8%
American Tower Corp.	3.5%
Goodman Group	3.2%

Householding

Additional Information

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

TCW Global Real Estate Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGREX

TSR TGREX-0426

TCW Global Real Estate Fund

Class N: TGRYX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$52	1.00%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$43,085,364
# of Portfolio Holdings33
Portfolio Turnover Rate45%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Specialized REITs	31.7%
Industrial REITs	15.5%
Hotels, Restaurants & Leisure	9.6%
Health Care REITs	8.3%
Real Estate Management & Development	8.1%
Residential REITs	6.6%
Diversified REITs	4.9%
Office REITs	4.0%
Other^{Footnote Reference*}	11.3%
Liabilities in Excess of Other Assets	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Equinix, Inc.	8.8%
Welltower, Inc.	8.3%
Prologis, Inc.	7.4%
Iron Mountain, Inc.	5.7%
Digital Realty Trust, Inc.	4.8%
InterContinental Hotels Group PLC	4.2%
Dexus	4.0%
Mid-America Apartment Communities, Inc.	3.8%
American Tower Corp.	3.5%
Goodman Group	3.2%

Householding

Additional Information

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

TCW Global Real Estate Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGRYX

TSR TGRYX-0426

TCW Relative Value Large Cap Fund

Class I-3: TGDZX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Relative Value Large Cap Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$41	0.78%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$553,882,770
# of Portfolio Holdings48
Portfolio Turnover Rate39%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Financials	16.0%
Industrials	13.5%
Health Care	12.5%
Information Technology	12.1%
Energy	8.8%
Real Estate	7.3%
Consumer Discretionary	6.4%
Utilities	6.2%
Other^{Footnote Reference*}	16.9%
Other Assets in Excess of Liabilities	0.3%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Intel Corp.	4.8%
Bank of New York Mellon Corp.	4.0%
JPMorgan Chase & Co.	4.0%
Amazon.com, Inc.	3.7%
Equinix, Inc.	3.7%
Intercontinental Exchange, Inc.	3.3%
AMETEK, Inc.	2.9%
Merck & Co., Inc.	2.9%
Johnson Controls International PLC	2.9%
Walt Disney Co.	2.8%

Householding

Additional Information

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

TCW Relative Value Large Cap Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TGDZX

TSR TGDZX-0426

TCW Relative Value Large Cap Fund

Class I: TGDIX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$18	0.35%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$553,882,770
# of Portfolio Holdings48
Portfolio Turnover Rate39%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Financials	16.0%
Industrials	13.5%
Health Care	12.5%
Information Technology	12.1%
Energy	8.8%
Real Estate	7.3%
Consumer Discretionary	6.4%
Utilities	6.2%
Other^{Footnote Reference*}	16.9%
Other Assets in Excess of Liabilities	0.3%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Intel Corp.	4.8%
Bank of New York Mellon Corp.	4.0%
JPMorgan Chase & Co.	4.0%
Amazon.com, Inc.	3.7%
Equinix, Inc.	3.7%
Intercontinental Exchange, Inc.	3.3%
AMETEK, Inc.	2.9%
Merck & Co., Inc.	2.9%
Johnson Controls International PLC	2.9%
Walt Disney Co.	2.8%

Householding

Additional Information

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

TCW Relative Value Large Cap Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGDIX

TSR TGDIX-0426

TCW Relative Value Large Cap Fund

Class N: TGDVX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$45	0.85%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$553,882,770
# of Portfolio Holdings48
Portfolio Turnover Rate39%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Financials	16.0%
Industrials	13.5%
Health Care	12.5%
Information Technology	12.1%
Energy	8.8%
Real Estate	7.3%
Consumer Discretionary	6.4%
Utilities	6.2%
Other^{Footnote Reference*}	16.9%
Other Assets in Excess of Liabilities	0.3%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Intel Corp.	4.8%
Bank of New York Mellon Corp.	4.0%
JPMorgan Chase & Co.	4.0%
Amazon.com, Inc.	3.7%
Equinix, Inc.	3.7%
Intercontinental Exchange, Inc.	3.3%
AMETEK, Inc.	2.9%
Merck & Co., Inc.	2.9%
Johnson Controls International PLC	2.9%
Walt Disney Co.	2.8%

Householding

Additional Information

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

TCW Relative Value Large Cap Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGDVX

TSR TGDVX-0426

TCW Relative Value Mid Cap Fund

Class I: TGVOX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Relative Value Mid Cap Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$47	0.85%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$145,695,131
# of Portfolio Holdings54
Portfolio Turnover Rate33%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Industrials	17.1%
Financials	14.5%
Information Technology	12.4%
Utilities	11.1%
Real Estate	10.4%
Health Care	8.0%
Energy	7.0%
Consumer Discretionary	5.0%
Other^{Footnote Reference*}	14.5%
Liabilities in Excess of Other Assets	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
CH Robinson Worldwide, Inc.	3.2%
Entergy Corp.	3.2%
Jabil, Inc.	3.1%
MasTec, Inc.	3.0%
Popular, Inc.	2.9%
Avnet, Inc.	2.8%
Arcosa, Inc.	2.7%
DuPont de Nemours, Inc.	2.7%
NiSource, Inc.	2.7%
Equinix, Inc.	2.5%

Householding

Additional Information

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

TCW Relative Value Mid Cap Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGVOX

TSR TGVOX-0426

TCW Relative Value Mid Cap Fund

Class N: TGVNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$52	0.95%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$145,695,131
# of Portfolio Holdings54
Portfolio Turnover Rate33%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Industrials	17.1%
Financials	14.5%
Information Technology	12.4%
Utilities	11.1%
Real Estate	10.4%
Health Care	8.0%
Energy	7.0%
Consumer Discretionary	5.0%
Other^{Footnote Reference*}	14.5%
Liabilities in Excess of Other Assets	0.0%^{Footnote Reference1}

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
CH Robinson Worldwide, Inc.	3.2%
Entergy Corp.	3.2%
Jabil, Inc.	3.1%
MasTec, Inc.	3.0%
Popular, Inc.	2.9%
Avnet, Inc.	2.8%
Arcosa, Inc.	2.7%
DuPont de Nemours, Inc.	2.7%
NiSource, Inc.	2.7%
Equinix, Inc.	2.5%

Householding

Additional Information

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

TCW Relative Value Mid Cap Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGVNX

TSR TGVNX-0426

TCW Securitized Bond Fund

Class I-3: TGLZX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW Securitized Bond Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$29	0.58%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$1,644,907,043
# of Portfolio Holdings482
Portfolio Turnover Rate136%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	68.7%
Residential Mortgage-Backed Securities - Non-Agency	22.3%
Commercial Mortgage-Backed Securities - Non-Agency	14.2%
Asset-Backed Securities	10.2%
Short-Term Investments	5.4%
Investment Companies	1.1%
Commercial Mortgage-Backed Securities - Agency	0.2%
Corporate Bonds	0.2%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(22.3%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Government National Mortgage Association, TBA, 3.50%, due 08/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 10/01/51	2.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 02/01/56	2.5%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.5%
Federal National Mortgage Association, 2.00%, due 03/01/52	1.8%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 01/01/56	1.6%
Uniform Mortgage-Backed Security, TBA, 3.00%, due 12/01/51	1.4%
Government National Mortgage Association, TBA, 2.50%, due 11/01/51	1.4%
Government National Mortgage Association, TBA, 4.00%, due 07/01/55	1.4%
Government National Mortgage Association, TBA, 4.50%, due 02/01/56	1.3%

Householding

Additional Information

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

TCW Securitized Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TGLZX

TSR TGLZX-0426

TCW Securitized Bond Fund

Class I: TGLMX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$24	0.49%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$1,644,907,043
# of Portfolio Holdings482
Portfolio Turnover Rate136%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	68.7%
Residential Mortgage-Backed Securities - Non-Agency	22.3%
Commercial Mortgage-Backed Securities - Non-Agency	14.2%
Asset-Backed Securities	10.2%
Short-Term Investments	5.4%
Investment Companies	1.1%
Commercial Mortgage-Backed Securities - Agency	0.2%
Corporate Bonds	0.2%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(22.3%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Government National Mortgage Association, TBA, 3.50%, due 08/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 10/01/51	2.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 02/01/56	2.5%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.5%
Federal National Mortgage Association, 2.00%, due 03/01/52	1.8%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 01/01/56	1.6%
Uniform Mortgage-Backed Security, TBA, 3.00%, due 12/01/51	1.4%
Government National Mortgage Association, TBA, 2.50%, due 11/01/51	1.4%
Government National Mortgage Association, TBA, 4.00%, due 07/01/55	1.4%
Government National Mortgage Association, TBA, 4.50%, due 02/01/56	1.3%

Householding

Additional Information

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

TCW Securitized Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TGLMX

TSR TGLMX-0426

TCW Securitized Bond Fund

Class N: TGMNX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$35	0.70%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$1,644,907,043
# of Portfolio Holdings482
Portfolio Turnover Rate136%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	68.7%
Residential Mortgage-Backed Securities - Non-Agency	22.3%
Commercial Mortgage-Backed Securities - Non-Agency	14.2%
Asset-Backed Securities	10.2%
Short-Term Investments	5.4%
Investment Companies	1.1%
Commercial Mortgage-Backed Securities - Agency	0.2%
Corporate Bonds	0.2%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(22.3%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Government National Mortgage Association, TBA, 3.50%, due 08/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 10/01/51	2.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 02/01/56	2.5%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.5%
Federal National Mortgage Association, 2.00%, due 03/01/52	1.8%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 01/01/56	1.6%
Uniform Mortgage-Backed Security, TBA, 3.00%, due 12/01/51	1.4%
Government National Mortgage Association, TBA, 2.50%, due 11/01/51	1.4%
Government National Mortgage Association, TBA, 4.00%, due 07/01/55	1.4%
Government National Mortgage Association, TBA, 4.50%, due 02/01/56	1.3%

Householding

Additional Information

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

TCW Securitized Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TGMNX

TSR TGMNX-0426

TCW Securitized Bond Fund

Plan Class: TGLSX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$22	0.44%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$1,644,907,043
# of Portfolio Holdings482
Portfolio Turnover Rate136%

What did the Fund invest in?

Asset Allocation (as a % of Net Assets)

Table Summary
Residential Mortgage-Backed Securities - Agency	68.7%
Residential Mortgage-Backed Securities - Non-Agency	22.3%
Commercial Mortgage-Backed Securities - Non-Agency	14.2%
Asset-Backed Securities	10.2%
Short-Term Investments	5.4%
Investment Companies	1.1%
Commercial Mortgage-Backed Securities - Agency	0.2%
Corporate Bonds	0.2%
Other Security Types^{Footnote Reference*}	0.0%^{Footnote Reference1}
Liabilities in Excess of Other Assets	(22.3%)

Footnote	Description
Footnote¹	Less than 0.01%
Footnote^*	Please refer to the Fund’s Semi-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
Government National Mortgage Association, TBA, 3.50%, due 08/01/55	3.1%
Uniform Mortgage-Backed Security, TBA, 2.00%, due 10/01/51	2.6%
Uniform Mortgage-Backed Security, TBA, 5.00%, due 02/01/56	2.5%
Uniform Mortgage-Backed Security, TBA, 3.50%, due 01/01/52	2.5%
Federal National Mortgage Association, 2.00%, due 03/01/52	1.8%
Uniform Mortgage-Backed Security, TBA, 5.50%, due 01/01/56	1.6%
Uniform Mortgage-Backed Security, TBA, 3.00%, due 12/01/51	1.4%
Government National Mortgage Association, TBA, 2.50%, due 11/01/51	1.4%
Government National Mortgage Association, TBA, 4.00%, due 07/01/55	1.4%
Government National Mortgage Association, TBA, 4.50%, due 02/01/56	1.3%

Householding

Additional Information

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

TCW Securitized Bond Fund

Semi-Annual Shareholder Report — April 30, 2026

Plan Class: TGLSX

TSR TGLSX-0426

TCW White Oak Emerging Markets Equity Fund

Class I-3: TWOZX

Semi-Annual Shareholder Report — April 30, 2026

This semi-annual shareholder report contains important information about the TCW White Oak Emerging Markets Equity Fund (the "Fund") for the period of November 1, 2025 to April 30, 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 six months?

(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	$62	1.15%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$20,142,316
# of Portfolio Holdings207
Portfolio Turnover Rate15%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	37.6%
Financials	16.7%
Consumer Discretionary	11.9%
Industrials	10.7%
Materials	5.8%
Communication Services	5.6%
Health Care	4.2%
Consumer Staples	2.7%
Other^{Footnote Reference*}	3.0%
Other Assets in Excess of Liabilities	1.8%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Taiwan Semiconductor Manufacturing Co. Ltd.	13.5%
Samsung Electronics Co. Ltd.	6.8%
SK Hynix, Inc.	4.5%
Tencent Holdings Ltd.	3.4%
Alibaba Group Holding Ltd.	2.6%
Delta Electronics, Inc.	1.9%
Elite Material Co. Ltd.	1.0%
AIA Group Ltd.	1.0%
BOC Aviation Ltd.	0.9%
Accton Technology Corp.	0.9%

Householding

Additional Information

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

TCW White Oak Emerging Markets Equity Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I-3: TWOZX

TSR TWOZX-0426

TCW White Oak Emerging Markets Equity Fund

Class I: TWOEX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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	$53	0.98%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$20,142,316
# of Portfolio Holdings207
Portfolio Turnover Rate15%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	37.6%
Financials	16.7%
Consumer Discretionary	11.9%
Industrials	10.7%
Materials	5.8%
Communication Services	5.6%
Health Care	4.2%
Consumer Staples	2.7%
Other^{Footnote Reference*}	3.0%
Other Assets in Excess of Liabilities	1.8%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Taiwan Semiconductor Manufacturing Co. Ltd.	13.5%
Samsung Electronics Co. Ltd.	6.8%
SK Hynix, Inc.	4.5%
Tencent Holdings Ltd.	3.4%
Alibaba Group Holding Ltd.	2.6%
Delta Electronics, Inc.	1.9%
Elite Material Co. Ltd.	1.0%
AIA Group Ltd.	1.0%
BOC Aviation Ltd.	0.9%
Accton Technology Corp.	0.9%

Householding

Additional Information

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

TCW White Oak Emerging Markets Equity Fund

Semi-Annual Shareholder Report — April 30, 2026

Class I: TWOEX

TSR TWOEX-0426

TCW White Oak Emerging Markets Equity Fund

Class N: TWEMX

Semi-Annual Shareholder Report — April 30, 2026

What were the Fund costs for the last six months?

(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 N	$66	1.23%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized.

Key Fund Statistics

Total Net Assets$20,142,316
# of Portfolio Holdings207
Portfolio Turnover Rate15%

What did the Fund invest in?

Sector Allocation (as a % of Net Assets)

Table Summary
Information Technology	37.6%
Financials	16.7%
Consumer Discretionary	11.9%
Industrials	10.7%
Materials	5.8%
Communication Services	5.6%
Health Care	4.2%
Consumer Staples	2.7%
Other^{Footnote Reference*}	3.0%
Other Assets in Excess of Liabilities	1.8%

Footnote	Description
Footnote^*	Please refer to the Fund’s Semi-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
Taiwan Semiconductor Manufacturing Co. Ltd.	13.5%
Samsung Electronics Co. Ltd.	6.8%
SK Hynix, Inc.	4.5%
Tencent Holdings Ltd.	3.4%
Alibaba Group Holding Ltd.	2.6%
Delta Electronics, Inc.	1.9%
Elite Material Co. Ltd.	1.0%
AIA Group Ltd.	1.0%
BOC Aviation Ltd.	0.9%
Accton Technology Corp.	0.9%

Householding

Additional Information

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

TCW White Oak Emerging Markets Equity Fund

Semi-Annual Shareholder Report — April 30, 2026

Class N: TWEMX

TSR TWEMX-0426

(b)	Not applicable.

Item 2.

Code of Ethics.

Not required for this filing.

Item 3.

Audit Committee Financial Expert.

Not required for this filing.

Item 4.

Principal Accountant Fees and Services.

Not required for this filing.

Item 5.

Audit Committee of Listed Registrants.

Not applicable.

Item 6.

Investments.

(a)	The Schedule of Investments is included as part of the Report 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.

(b)	The registrant’s Financial Highlights are included as part of the Financial Statements filed under Item 7(a) of this Form N-CSR.

LOGO

Semi-Annual

Financial

Statements

and Other Information Form N-CSR Items 7-11

April 30, 2026

LOGO

TCW Funds, Inc.

Table of Contents

April 30, 2026


Schedules of Investments (Unaudited)			1

TCW Concentrated Large Cap Growth Fund			1

TCW Conservative Allocation Fund			4

TCW Global Real Estate Fund			7

TCW Relative Value Large Cap Fund			10

TCW Relative Value Mid Cap Fund			13

Statements of Assets and Liabilities (Unaudited)			16

Statements of Operations (Unaudited)			18

Statements of Changes in Net Assets (Unaudited)			20

Notes to Financial Statements (Unaudited)			23

Financial Highlights (Unaudited)			40

Supplemental Information (Unaudited)			52

TCW Concentrated Large Cap Growth Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

COMMON STOCK — 99.2% of Net Assets

Aerospace & Defense — 2.4%

General Electric Co.		56,110	$	16,267,972


Broadline Retail — 6.5%

Amazon.com, Inc. ⁽¹⁾		167,489		44,394,634


Capital Markets — 1.9%

S&P Global, Inc.		29,686		12,801,494


Commercial Services & Supplies — 1.7%

Waste Connections, Inc.		68,613		11,301,933


Communications Equipment — 2.5%

Arista Networks, Inc. ⁽¹⁾		99,972		17,266,164


Consumer Staples Distribution & Retail — 3.3%

Costco Wholesale Corp.		21,893		22,211,105


Electrical Equipment — 2.8%

Eaton Corp. PLC		43,598		18,878,370


Entertainment — 1.5%

Spotify Technology SA ⁽¹⁾		23,397		10,447,930


Financial Services — 6.5%

Mastercard, Inc.		40,188		20,211,349

Visa, Inc.		74,400		24,540,096


				44,751,445


Health Care Equipment & Supplies — 5.3%

Boston Scientific Corp. ⁽¹⁾		200,710		11,562,903

IDEXX Laboratories, Inc. ⁽¹⁾		15,832		8,878,586

Intuitive Surgical, Inc. ⁽¹⁾		34,568		15,818,662


				36,260,151


Health Care Providers & Services — 1.0%

McKesson Corp.		8,464		6,899,853


Health Care REITs — 2.1%

Welltower, Inc.		66,135		14,373,781


Interactive Media & Services — 13.8%

Alphabet, Inc.		172,254		65,790,693

Meta Platforms, Inc.		46,133		28,229,244


				94,019,937


IT Services — 1.8%

Shopify, Inc. ⁽¹⁾		101,722		12,321,586


Issues	Shares		Value

Semiconductors & Semiconductor Equipment — 27.1%

ASML Holding NV		15,839	$	22,792,163

Broadcom, Inc.		119,260		49,782,702

NVIDIA Corp.		565,565		112,869,807


				185,444,672


Software — 16.9%

Cadence Design Systems, Inc. ⁽¹⁾		47,447		15,638,057

Crowdstrike Holdings, Inc. ⁽¹⁾		35,555		15,848,641

Microsoft Corp.		109,961		44,839,897

Oracle Corp.		35,885		5,791,480

Palantir Technologies, Inc. ⁽¹⁾		41,242		5,737,175

Palo Alto Networks, Inc. ⁽¹⁾		80,632		14,458,930

ServiceNow, Inc. ⁽¹⁾		152,226		13,443,078


				115,757,258


Specialty Retail — 2.1%

O’Reilly Automotive, Inc. ⁽¹⁾		145,317		14,444,510


Total Common Stock

(Cost: $260,910,027)				677,842,795


MONEY MARKET INVESTMENTS — 0.8%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽²⁾		1,435,684		1,435,684

TCW Central Cash Fund, 3.69% ⁽²⁾⁽³⁾		4,080,000		4,080,000


Total Money Market Investments

(Cost: $5,515,684)				5,515,684


Total Investments (100.0%)

(Cost: $266,425,711)				683,358,479

Excess Of Other Assets Over Liabilities (0.0%)				237,250


Net Assets (100.0%)			$	683,595,729

Notes to the Schedule of Investments:

REIT

Real Estate Investment Trust.

(1)

Non-income producing security.

(2)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(3)

Affiliated issuer.

See accompanying Notes to Financial Statements.

TCW Concentrated Large Cap Growth Fund

Schedule of Investments (Unaudited) (Continued)

The summary of the TCW Concentrated Large Cap Growth Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	5,270,000	$	78,520,000	$	79,710,000		4,080,000	$	4,080,000	$	118,951	$	—	$	—	$	—

Total									$	4,080,000	$	118,951	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Concentrated Large Cap Growth Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Common Stock
Semiconductors & Semiconductor Equipment	$	185,444,672	$	—	$	—	$	185,444,672
Software		110,020,083		5,737,175		—		115,757,258
Interactive Media & Services		94,019,937		—		—		94,019,937
Financial Services		44,751,445		—		—		44,751,445
Broadline Retail		44,394,634		—		—		44,394,634
Health Care Equipment & Supplies		36,260,151		—		—		36,260,151
Consumer Staples Distribution & Retail		22,211,105		—		—		22,211,105
Electrical Equipment		18,878,370		—		—		18,878,370
Communications Equipment		17,266,164		—		—		17,266,164
Aerospace & Defense		16,267,972		—		—		16,267,972
Specialty Retail		14,444,510		—		—		14,444,510
Health Care REITs		14,373,781		—		—		14,373,781
Capital Markets		12,801,494		—		—		12,801,494
IT Services		12,321,586		—		—		12,321,586
Commercial Services & Supplies		11,301,933		—		—		11,301,933
Entertainment		10,447,930		—		—		10,447,930
Health Care Providers & Services		6,899,853		—		—		6,899,853

Total Common Stock		672,105,620		5,737,175		—		677,842,795

Money Market Investments		5,515,684		—		—		5,515,684

Total Investments	$	677,621,304	$	5,737,175	$	—	$	683,358,479

See accompanying Notes to Financial Statements.

TCW Conservative Allocation Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

INVESTMENT COMPANIES — 99.8% of Net Assets

Diversified Equity Funds — 20.7%

TCW Concentrated Large Cap Growth Fund — I Class ⁽¹⁾		50,854	$	1,514,436

TCW Global Real Estate Fund — I Class ⁽¹⁾		82,141		1,102,331

TCW Relative Value Large Cap Fund — I Class ⁽¹⁾		223,180		3,628,909

TCW Relative Value Mid Cap Fund — I Class ⁽¹⁾		23,769		752,051

TCW White Oak Emerging Markets Equity Fund — I Class ⁽¹⁾		21,371		312,662


				7,310,389


Diversified Fixed Income Funds — 64.8%

TCW Emerging Markets Income Fund — I Class ⁽¹⁾		36,655		255,850

TCW Global Bond Fund — I Class ⁽¹⁾		104,292		878,139

TCW MetWest High Yield Bond Fund — I Class ⁽¹⁾		40,495		371,746

TCW MetWest Low Duration Bond Fund — I Class ⁽¹⁾		80,882		681,026

TCW MetWest Total Return Bond Fund — I Class ⁽¹⁾		904,275		8,210,819

TCW MetWest Unconstrained Bond Fund — I Class ⁽¹⁾		360,856		3,756,511

TCW Securitized Bond Fund — I Class ⁽¹⁾		1,129,614		8,731,918


				22,886,009


Exchange-Traded Funds — 13.7%

iShares Gold Trust		8,195		711,736

iShares MSCI EAFE ETF		7,630		780,702

TCW Artificial Intelligence ETF ⁽¹⁾		29,884		1,395,487

TCW Durable Growth ETF ⁽¹⁾		19,665		590,988

TCW Transform Supply Chain ETF ⁽¹⁾		2,642		213,349

TCW Transform Systems ETF ⁽¹⁾		10,201		1,150,902


				4,843,164


Issues	Shares		Value

Exchange-Traded Notes — 0.6%

iPath Bloomberg Commodity Index Total Return ETN		3,831	$	193,197


Total Investment Companies

(Cost: $32,177,052)				35,232,759


MONEY MARKET INVESTMENTS — 0.3%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽²⁾		110,663		110,663


Total Money Market Investments

(Cost: $110,663)				110,663


Total Investments (100.1%)

(Cost: $32,287,715)				35,343,422

Liabilities In Excess Of Other Assets (-0.1%)				(47,651	)


Net Assets (100.0%)			$	35,295,771

Notes to the Schedule of Investments:

ETF

Exchange-Traded Fund.

ETN

Exchange Traded Note.

(1)

Affiliated issuer.

(2)

Rate disclosed is the 7-day net yield as of April 30, 2026.

See accompanying Notes to Financial Statements.

TCW Conservative Allocation Fund

April 30, 2026

The summary of the TCW Conservative Allocation Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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 Artificial Intelligence ETF
	$	223,588	$	1,040,771	$	—		29,884	$	1,395,487	$	—	$	—	$	—		$	131,128
TCW Central Cash Fund
		—		1,250,000		1,250,000		—		—		334		—		—			—
TCW Durable Growth ETF
		3,481,269		34,139		2,767,947		19,665		590,988		—		—		982,532			(1,139,005	)
TCW Concentrated Large Cap Growth Fund—I Class
		1,594,253		271,136		97,942		50,854		1,514,436		—		167,957		(9,907	)		(243,104	)
TCW Emerging Markets Income Fund—I Class
		250,998		9,557		4,706		36,655		255,850		8,294		—		(176	)		177
TCW Global Bond Fund—I Class
		887,083		42,880		33,957		104,292		878,139		23,289		—		(5,425	)		(12,442	)
TCW Global Real Estate Fund—I Class
		998,470		89,277		70,653		82,141		1,102,331		20,484		—		(1,498	)		86,735
TCW MetWest High Yield Bond Fund—I Class
		371,310		12,919		6,913		40,495		371,746		12,805		—		(74	)		(5,496	)
TCW MetWest Low Duration Bond Fund—I Class
		683,595		13,492		12,825		80,882		681,026		13,472		—		(182	)		(3,054	)
TCW MetWest Total Return Bond Fund—I Class
		8,323,261		518,677		470,308		904,275		8,210,819		191,159		—		(80,455	)		(80,356	)
TCW MetWest Unconstrained Bond Fund—I Class
		3,759,487		253,120		227,980		360,856		3,756,511		98,305		—		(19,276	)		(8,840	)
TCW Relative Value Large Cap Fund—I Class
		3,236,169		940,749		269,681		223,180		3,628,909		36,881		608,219		(19,382	)		(258,946	)
TCW Relative Value Mid Cap Fund—I Class
		70,806		698,472		18,668		23,769		752,051		2,237		109,594		(2,676	)		4,117
TCW Securitized Bond Fund—I Class
		8,712,008		653,912		478,802		1,129,614		8,731,918		275,894		—		(95,138	)		(60,062	)
TCW Transform Supply Chain ETF
		386,607		—		213,071		2,642		213,349		—		—		26,532			13,281
TCW Transform Systems ETF
		252,908		805,852		—		10,201		1,150,902		—		—		—			92,142
TCW White Oak Emerging Markets Equity Fund—I Class
		—		274,407		—		21,371		312,662		—		—		—			38,255

Total									$	33,547,124	$	683,154	$	885,770	$	774,875		$	(1,445,470	)

See accompanying Notes to Financial Statements.

TCW Conservative Allocation Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Investment Companies	$	34,920,097	$	312,662	$	—	$	35,232,759
Money Market Investments		110,663		—		—		110,663

Total Investments	$	35,030,760	$	312,662	$	—	$	35,343,422

See accompanying Notes to Financial Statements.

TCW Global Real Estate Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

COMMON STOCK — 99.1% of Net Assets

Australia — 8.9%

Dexus		382,057	$	1,721,123

Goodman Group		63,680		1,377,758

Mirvac Group		584,061		720,573


Total Australia

(Cost: $3,661,439)				3,819,454


Belgium — 2.1% (Cost: $1,283,070)

Shurgard Self Storage Ltd.		29,943		920,566


Canada — 5.0%

Brookfield Corp.		21,324		961,154

Killam Apartment Real Estate Investment Trust		95,472		1,194,540


Total Canada

(Cost: $2,248,505)				2,155,694


Japan — 2.2%

Mitsubishi Estate Co. Ltd.		20,500		583,654

Mitsui Fudosan Co. Ltd.		33,600		367,636


Total Japan

(Cost: $512,130)				951,290


Spain — 6.2%

Cellnex Telecom SA ⁽¹⁾		38,626		1,299,587

Merlin Properties Socimi SA		78,552		1,372,951


Total Spain

(Cost: $2,329,249)				2,672,538


United Kingdom — 2.7% (Cost: $1,376,465)

Segro PLC		122,975		1,163,192


United States — 72.0%

American Tower Corp.		8,176		1,493,837

CBRE Group, Inc. ⁽¹⁾		8,422		1,202,072

Crown Castle, Inc.		9,656		857,260

Digital Realty Trust, Inc.		10,269		2,063,453

Equinix, Inc.		3,486		3,774,745

Gaming & Leisure Properties, Inc.		9,178		444,766

Hyatt Hotels Corp.		5,853		980,787


Issues	Shares		Value

United States (Continued)

InterContinental Hotels Group PLC		12,591	$	1,800,275

Iron Mountain, Inc.		19,413		2,445,844

Jones Lang LaSalle, Inc. ⁽¹⁾		4,149		1,319,921

Lennar Corp.		6,580		594,174

Mid-America Apartment Communities, Inc.		12,712		1,642,136

Phillips Edison & Co., Inc.		18,936		760,564

Prologis, Inc.		22,349		3,174,005

Public Storage		2,862		865,612

SBA Communications Corp.		3,683		814,680

Simon Property Group, Inc.		4,364		888,990

STAG Industrial, Inc.		24,587		948,567

Travel & Leisure Co.		20,741		1,341,113

Welltower, Inc.		16,502		3,586,545


Total United States

(Cost: $25,872,143)				30,999,346


Total Common Stock

(Cost: $37,283,001)				42,682,080


MONEY MARKET INVESTMENTS — 0.9%

United States — 0.9%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽²⁾		183,701		183,701

TCW Central Cash Fund, 3.69% ⁽²⁾⁽³⁾		220,000		220,000


Total Money Market Investments

(Cost: $403,701)				403,701


Total Investments (100.0%)

(Cost: $37,686,702)				43,085,781

Liabilities In Excess Of Other Assets (0.0%)				(417	)


Net Assets (100.0%)			$	43,085,364

Notes to the Schedule of Investments:

(1)

Non-income producing security.

(2)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(3)

Affiliated issuer.

See accompanying Notes to Financial Statements.

TCW Global Real Estate Fund

Schedule of Investments (Unaudited) (Continued)

The summary of the TCW Global Real Estate Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	330,000	$	16,740,000	$	16,850,000		220,000	$	220,000	$	9,319	$	—	$	—	$	—

Total									$	220,000	$	9,319	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Global Real Estate Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Common Stock
Specialized REITs	$	9,882,064	$	—	$	—	$	9,882,064
Industrial REITs		4,122,572		2,540,950		—		6,663,522
Hotels, Resorts & Cruise Lines		1,341,113		2,781,062		—		4,122,175
Health Care REITs		3,586,545		—		—		3,586,545
Diversified REITs		814,680		2,093,524		—		2,908,204
Multi-Family Residential REITs		2,836,676		—		—		2,836,676
Real Estate Services		2,521,993		—		—		2,521,993
Data Center REITs		2,063,453		—		—		2,063,453
Office REITs		—		1,721,123		—		1,721,123
Retail REITs		760,564		888,990		—		1,649,554
Wireless Telecommunication Services		—		1,299,587		—		1,299,587
Asset Management & Custody Banks		961,154		—		—		961,154
Diversified Real Estate Activities		—		951,290		—		951,290
Self Storage REITs		—		920,566		—		920,566
Homebuilding		594,174		—		—		594,174

Total Common Stock		29,484,988		13,197,092		—		42,682,080

Money Market Investments		403,701		—		—		403,701

Total Investments	$	29,888,689	$	13,197,092	$	—	$	43,085,781

See accompanying Notes to Financial Statements.

TCW Relative Value Large Cap Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

COMMON STOCK — 99.1% of Net Assets

Air Freight & Logistics — 2.4%

United Parcel Service, Inc.		124,338	$	13,527,974


Banks — 4.0%

JPMorgan Chase & Co.		70,911		22,211,452


Beverages — 2.0%

Keurig Dr. Pepper, Inc.		386,283		11,356,720


Biotechnology — 2.3%

AbbVie, Inc.		59,755		12,627,427


Broadline Retail — 3.7%

Amazon.com, Inc. ⁽¹⁾		77,145		20,448,054


Building Products — 2.9%

Johnson Controls International PLC		108,946		15,909,384


Capital Markets — 8.5%

Bank of New York Mellon Corp.		166,436		22,364,005

Intercontinental Exchange, Inc.		114,917		18,167,229

Morgan Stanley		34,071		6,493,592


				47,024,826


Chemicals — 2.0%

DuPont de Nemours, Inc.		245,030		11,188,070


Communications Equipment — 2.6%

Cisco Systems, Inc.		158,556		14,507,874


Construction & Engineering — 1.5%

API Group Corp. ⁽¹⁾		186,754		8,538,393


Consumer Staples Distribution & Retail — 1.5%

Target Corp.		63,603		8,252,489


Electric Utilities — 2.8%

Entergy Corp.		130,793		15,421,803


Electrical Equipment — 2.9%

AMETEK, Inc.		68,344		16,095,012


Energy Equipment & Services — 3.9%

Baker Hughes Co.		217,911		15,181,859

TechnipFMC PLC		86,410		6,530,004


				21,711,863


Entertainment — 2.8%

Walt Disney Co.		148,840		15,442,150


Financial Services — 3.5%

Apollo Global Management, Inc.		44,501		5,728,169

Equitable Holdings, Inc.		320,255		13,514,761


				19,242,930


Ground Transportation — 2.7%

CSX Corp.		334,415		15,192,473


Health Care Equipment & Supplies — 0.9%

Medtronic PLC		60,553		4,902,976


Issues	Shares		Value

Health Care Providers & Services — 4.2%

McKesson Corp.		13,154	$	10,723,141

UnitedHealth Group, Inc.		33,746		12,502,218


				23,225,359


Household Durables — 1.8%

Lennar Corp.		108,518		9,799,175


Household Products — 2.7%

Church & Dwight Co., Inc.		62,572		6,073,238

Procter & Gamble Co.		58,788		8,647,127


				14,720,365


Interactive Media & Services — 2.5%

Meta Platforms, Inc.		22,281		13,633,967


IT Services — 2.9%

Akamai Technologies, Inc. ⁽¹⁾		44,565		4,589,304

International Business Machines Corp.		50,936		11,765,197


				16,354,501


Machinery — 1.0%

Xylem, Inc.		45,310		5,353,830


Metals & Mining — 2.0%

Freeport-McMoRan, Inc.		190,086		10,983,169


Multi-Utilities — 3.5%

NiSource, Inc.		291,392		14,068,406

Sempra		53,826		5,119,929


				19,188,335


Oil, Gas & Consumable Fuels — 4.9%

Exxon Mobil Corp.		98,280		15,167,553

Venture Global, Inc.		898,049		11,917,110


				27,084,663


Pharmaceuticals — 5.1%

Merck & Co., Inc.		147,070		16,057,103

Pfizer, Inc.		465,760		12,435,792


				28,492,895


Real Estate Management & Development — 1.7%

Jones Lang LaSalle, Inc. ⁽¹⁾		29,576		9,409,013


Semiconductors & Semiconductor Equipment — 4.8%

Intel Corp. ⁽¹⁾		278,813		26,342,252


Software — 0.7%

Roper Technologies, Inc.		10,805		3,833,722


Specialized REITs — 5.6%

American Tower Corp.		58,506		10,689,631

Equinix, Inc.		18,753		20,306,311


				30,995,942


Technology Hardware, Storage & Peripherals — 1.1%

NetApp, Inc.		56,323		6,238,899

See accompanying Notes to Financial Statements.

TCW Relative Value Large Cap Fund

April 30, 2026


Issues	Shares		Value

Textiles, Apparel & Luxury Goods — 0.9%

Tapestry, Inc.		35,532	$	5,153,561


Wireless Telecommunication Services — 0.8%

T-Mobile U.S., Inc.		23,854		4,663,457


Total Common Stock

(Cost: $383,006,556)				549,074,975


MONEY MARKET INVESTMENTS — 0.6%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽²⁾		2,019,288		2,019,288

TCW Central Cash Fund, 3.69% ⁽²⁾⁽³⁾		1,200,000		1,200,000


Total Money Market Investments

(Cost: $3,219,288)				3,219,288


Total Investments (99.7%)

(Cost: $386,225,844)				552,294,263

Excess Of Other Assets Over Liabilities (0.3%)				1,588,507


Net Assets (100.0%)			$	553,882,770

Notes to the Schedule of Investments:

REIT

Real Estate Investment Trust.

(1)

Non-income producing security.

(2)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(3)

Affiliated issuer.

The summary of the TCW Relative Value Large Cap Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	2,600,000	$	53,100,000	$	54,500,000		1,200,000	$	1,200,000	$	153,572	$	—	$	—	$	—

Total									$	1,200,000	$	153,572	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Relative Value Large Cap Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Common Stock
Capital Markets	$	47,024,826	$	—	$	—	$	47,024,826
Specialized REITs		30,995,942		—		—		30,995,942
Pharmaceuticals		28,492,895		—		—		28,492,895
Oil, Gas & Consumable Fuels		27,084,663		—		—		27,084,663
Semiconductors & Semiconductor Equipment		26,342,252		—		—		26,342,252
Health Care Providers & Services		23,225,359		—		—		23,225,359
Banks		22,211,452		—		—		22,211,452
Energy Equipment & Services		21,711,863		—		—		21,711,863
Broadline Retail		20,448,054		—		—		20,448,054
Financial Services		19,242,930		—		—		19,242,930
Multi-Utilities		19,188,335		—		—		19,188,335
IT Services		11,765,197		4,589,304		—		16,354,501
Electrical Equipment		16,095,012		—		—		16,095,012
Building Products		15,909,384		—		—		15,909,384
Entertainment		15,442,150		—		—		15,442,150
Electric Utilities		15,421,803		—		—		15,421,803
Ground Transportation		15,192,473		—		—		15,192,473
Household Products		14,720,365		—		—		14,720,365
Communications Equipment		14,507,874		—		—		14,507,874
Interactive Media & Services		13,633,967		—		—		13,633,967
Air Freight & Logistics		13,527,974		—		—		13,527,974
Biotechnology		12,627,427		—		—		12,627,427
Beverages		11,356,720		—		—		11,356,720
Chemicals		11,188,070		—		—		11,188,070
Metals & Mining		10,983,169		—		—		10,983,169
Household Durables		9,799,175		—		—		9,799,175
Real Estate Management & Development		9,409,013		—		—		9,409,013
Construction & Engineering		8,538,393		—		—		8,538,393
Consumer Staples Distribution & Retail		—		8,252,489		—		8,252,489
Technology Hardware, Storage & Peripherals		6,238,899		—		—		6,238,899
Machinery		5,353,830		—		—		5,353,830
Textiles, Apparel & Luxury Goods		5,153,561		—		—		5,153,561
Health Care Equipment & Supplies		4,902,976		—		—		4,902,976
Wireless Telecommunication Services		—		4,663,457		—		4,663,457
Software		3,833,722		—		—		3,833,722

Total Common Stock		531,569,725		17,505,250		—		549,074,975

Money Market Investments		3,219,288		—		—		3,219,288

Total Investments	$	534,789,013	$	17,505,250	$	—	$	552,294,263

See accompanying Notes to Financial Statements.

TCW Relative Value Mid Cap Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

COMMON STOCK — 95.7% of Net Assets

Air Freight & Logistics — 6.1%

CH Robinson Worldwide, Inc.		25,537	$	4,642,882

FedEx Corp.		7,548		3,044,184

GXO Logistics, Inc. ⁽¹⁾		21,657		1,237,264


				8,924,330


Banks — 2.9%

Popular, Inc.		27,844		4,185,788


Beverages — 1.7%

Keurig Dr. Pepper, Inc.		84,347		2,479,802


Broadline Retail — 2.2%

eBay, Inc.		30,650		3,171,662


Capital Markets — 3.0%

ARES Management Corp.		16,698		1,960,345

Interactive Brokers Group, Inc.		29,591		2,352,485


				4,312,830


Chemicals — 3.6%

Corteva, Inc.		16,886		1,367,935

DuPont de Nemours, Inc.		85,920		3,923,107


				5,291,042


Construction & Engineering — 6.9%

Arcosa, Inc.		31,561		3,991,520

MasTec, Inc. ⁽¹⁾		11,044		4,351,888

Primoris Services Corp.		9,085		1,645,748


				9,989,156


Consumer Finance — 2.6%

LendingClub Corp. ⁽¹⁾		134,444		2,294,959

OneMain Holdings, Inc.		25,868		1,520,262


				3,815,221


Consumer Staples Distribution & Retail — 1.5%

Dollar Tree, Inc. ⁽¹⁾		22,536		2,188,471


Electric Utilities — 4.9%

Entergy Corp.		38,938		4,591,180

Portland General Electric Co.		48,872		2,537,923


				7,129,103


Electronic Equipment, Instruments & Components — 5.9%

Avnet, Inc.		50,119		4,135,319

Jabil, Inc.		13,440		4,535,865


				8,671,184


Energy Equipment & Services — 4.4%

Baker Hughes Co.		45,422		3,164,551

TechnipFMC PLC		43,813		3,310,948


				6,475,499


Issues	Shares		Value

Financial Services — 4.0%

Corpay, Inc. ⁽¹⁾		7,721	$	2,366,255

Equitable Holdings, Inc.		81,512		3,439,806


				5,806,061


Gas Utilities — 1.5%

Northwest Natural Holding Co.		41,178		2,182,434


Health Care Equipment & Supplies — 0.7%

GE HealthCare Technologies, Inc.		15,784		960,299


Health Care Providers & Services — 4.7%

Centene Corp. ⁽¹⁾		53,733		2,884,925

Henry Schein, Inc. ⁽¹⁾		15,980		1,191,948

Quest Diagnostics, Inc.		14,009		2,720,548


				6,797,421


Hotels, Restaurants & Leisure — 0.8%

Travel & Leisure Co.		18,938		1,224,531


Household Durables — 2.0%

Lennar Corp.		11,080		1,000,524

Toll Brothers, Inc.		13,188		1,874,542


				2,875,066


Insurance — 2.1%

RenaissanceRe Holdings Ltd.		9,922		3,045,756


IT Services — 0.9%

Akamai Technologies, Inc. ⁽¹⁾		12,527		1,290,030


Life Sciences Tools & Services — 0.7%

Charles River Laboratories International, Inc. ⁽¹⁾		5,832		973,769


Machinery — 2.5%

AGCO Corp.		29,757		3,601,192


Media — 3.3%

Fox Corp.		47,946		3,044,091

Omnicom Group, Inc.		23,919		1,835,066


				4,879,157


Multi-Utilities — 4.7%

NiSource, Inc.		80,843		3,903,100

Sempra		30,634		2,913,906


				6,817,006


Oil, Gas & Consumable Fuels — 2.5%

Marathon Petroleum Corp.		8,517		2,114,686

Range Resources Corp.		35,232		1,532,592


				3,647,278


Pharmaceuticals — 2.0%

Teva Pharmaceutical Industries Ltd. (SP ADR) (Israel) ⁽¹⁾		82,879		2,906,567

See accompanying Notes to Financial Statements.

TCW Relative Value Mid Cap Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Shares		Value

Professional Services — 1.7%

Jacobs Solutions, Inc.		18,894	$	2,445,073


Real Estate Management & Development — 2.4%

Jones Lang LaSalle, Inc. ⁽¹⁾		10,923		3,474,934


Residential REITs — 1.3%

Mid-America Apartment Communities, Inc.		14,821		1,914,577


Semiconductors & Semiconductor Equipment — 5.5%

Amkor Technology, Inc.		28,676		2,000,151

Microchip Technology, Inc.		30,481		2,831,990

ON Semiconductor Corp. ⁽¹⁾		32,262		3,252,332


				8,084,473


Specialized REITs — 6.7%

Equinix, Inc.		3,418		3,701,113

Iron Mountain, Inc.		26,556		3,345,791

SBA Communications Corp.		12,586		2,784,023


				9,830,927


Total Common Stock

(Cost: $98,206,651)				139,390,639


Issues	Shares		Value

MONEY MARKET INVESTMENTS — 4.3%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽²⁾		669,363	$	669,363

TCW Central Cash Fund, 3.69% ⁽²⁾⁽³⁾		5,647,000		5,647,000


				6,316,363


Total Money Market Investments

(Cost: $6,316,363)				6,316,363


Total Investments (100.0%)

(Cost: $104,523,014)				145,707,002

Liabilities In Excess Of Other Assets (0.0%)				(11,871	)


Net Assets (100.0%)			$	145,695,131

Notes to the Schedule of Investments:

REIT

Real Estate Investment Trust.

SP ADR

Sponsored American Depositary Receipt. ADRs are receipts, typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation. Sponsored ADRs are ADRs issued with the cooperation of the foreign corporation.

(1)

Non-income producing security.

(2)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(3)

Affiliated issuer.

The summary of the TCW Relative Value Mid Cap Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	667,000	$	21,380,000	$	16,400,000		5,647,000	$	5,647,000	$	41,253	$	—	$	—	$	—

Total									$	5,647,000	$	41,253	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Relative Value Mid Cap Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Common Stock
Construction & Engineering	$	8,343,408	$	1,645,748	$	—	$	9,989,156
Specialized REITs		9,830,927		—		—		9,830,927
Air Freight & Logistics		7,687,066		1,237,264		—		8,924,330
Electronic Equipment, Instruments & Components		8,671,184		—		—		8,671,184
Semiconductors & Semiconductor Equipment		6,084,322		2,000,151		—		8,084,473
Electric Utilities		4,591,180		2,537,923		—		7,129,103
Multi-Utilities		6,817,006		—		—		6,817,006
Health Care Providers & Services		6,797,421		—		—		6,797,421
Energy Equipment & Services		6,475,499		—		—		6,475,499
Financial Services		5,806,061		—		—		5,806,061
Chemicals		5,291,042		—		—		5,291,042
Media		4,879,157		—		—		4,879,157
Capital Markets		4,312,830		—		—		4,312,830
Banks		4,185,788		—		—		4,185,788
Consumer Finance		3,815,221		—		—		3,815,221
Oil, Gas & Consumable Fuels		3,647,278		—		—		3,647,278
Machinery		3,601,192		—		—		3,601,192
Real Estate Management & Development		3,474,934		—		—		3,474,934
Broadline Retail		3,171,662		—		—		3,171,662
Insurance		3,045,756		—		—		3,045,756
Pharmaceuticals		2,906,567		—		—		2,906,567
Household Durables		2,875,066		—		—		2,875,066
Beverages		2,479,802		—		—		2,479,802
Professional Services		2,445,073		—		—		2,445,073
Consumer Staples Distribution & Retail		2,188,471		—		—		2,188,471
Gas Utilities		—		2,182,434		—		2,182,434
Residential REITs		1,914,577		—		—		1,914,577
IT Services		—		1,290,030		—		1,290,030
Hotels, Restaurants & Leisure		1,224,531		—		—		1,224,531
Life Sciences Tools & Services		973,769		—		—		973,769
Health Care Equipment & Supplies		960,299		—		—		960,299

Total Common Stock		128,497,089		10,893,550		—		139,390,639

Money Market Investments		6,316,363		—		—		6,316,363

Total Investments	$	134,813,452	$	10,893,550	$	—	$	145,707,002

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Assets and Liabilities (Unaudited)

April 30, 2026


	TCW Concentrated Large Cap Growth Fund		TCW Conservative Allocation Fund		TCW Global Real Estate Fund
ASSETS
Investments, at Value ⁽¹⁾	$	679,278,479	$	1,796,298	$	42,865,781
Investment in Affiliated Issuers, at Value ⁽²⁾		4,080,000		33,547,124		220,000
Receivable for Securities Sold		1,022,257		—		—
Receivable for Fund Shares Sold		134,007		—		1,444
Interest and Dividends Receivable		94,150		90,189		62,943
Foreign Tax Reclaims Receivable		—		—		19,865
Receivable from Investment Advisor		20,453		2,123		9,975
Prepaid Expenses		39,907		23,080		24,057

Total Assets		684,669,253		35,458,814		43,204,065

LIABILITIES
Payable for Securities Purchased		—		91,122		—
Payable for Fund Shares Redeemed		283,187		—		10,003
Accrued Directors’ Fees and Expenses		21,678		1,260		1,593
Deferred Accrued Directors’ Fees and Expenses		—		113		209
Accrued Management Fees		351,257		—		27,664
Accrued Distribution Fees		23,266		144		1,903
Transfer Agent Fees Payable		185,279		9,040		17,452
Administration Fee Payable		44,922		12,581		13,049
Audit Fees Payable		16,308		12,685		14,469
Accounting Fees Payable		30,466		4,537		5,110
Custodian Fees Payable		43,096		7,367		7,400
Legal Fees Payable		9,500		446		592
Other Accrued Expenses		64,565		23,748		19,257

Total Liabilities		1,073,524		163,043		118,701

NET ASSETS	$	683,595,729	$	35,295,771	$	43,085,364

NET ASSETS CONSIST OF:
Paid-in Capital	$	229,116,061	$	31,071,635	$	45,990,632
Accumulated Earnings (Loss)		454,479,668		4,224,136		(2,905,268	)

NET ASSETS	$	683,595,729	$	35,295,771	$	43,085,364

NET ASSETS ATTRIBUTABLE TO:
I Class Share	$	563,496,000	$	34,667,542	$	33,575,817

I-3 Class Share	$	3,207,266	$	—	$	—

N Class Share	$	116,892,463	$	628,229	$	9,509,547

CAPITAL SHARES OUTSTANDING:⁽³⁾
I Class Share		18,924,330		2,838,541		2,501,121

I-3 Class Share		504,721		—		—

N Class Share		5,371,719		51,440		709,437

NET ASSET VALUE PER SHARE: ⁽⁴⁾
I Class Share	$	29.78	$	12.21	$	13.42

I-3 Class Share	$	6.35	$	—	$	—

N Class Share	$	21.76	$	12.21	$	13.40

(1)	The identified cost for the TCW Concentrated Large Cap Growth Fund, the TCW Conservative Allocation Fund and the TCW Global Real Estate Fund at April 30, 2026 was $262,345,711, $1,178,171 and $37,466,702, respectively.

(2)	The identified cost for the TCW Concentrated Large Cap Growth Fund, the TCW Conservative Allocation Fund and the TCW Global Real Estate Fund at April 30, 2026 was $4,080,000, $31,109,544 and $220,000, respectively.

(3)	The number of authorized shares, with a par value of $0.001 per share, is 4,000,000,000 for each of the I Class, I-3 Class and N Class shares.

(4)	Represents offering price and redemption price per share.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Assets and Liabilities (Unaudited)

April 30, 2026


	TCW Relative Value Large Cap Fund		TCW Relative Value Mid Cap Fund
ASSETS
Investments, at Value ⁽¹⁾	$	551,094,263	$	140,060,002
Investment in Affiliated Issuers, at Value ⁽²⁾		1,200,000		5,647,000
Receivable for Securities Sold		1,655,188		—
Receivable for Fund Shares Sold		21,558		74,230
Interest and Dividends Receivable		479,951		76,834
Foreign Tax Reclaims Receivable		194,850		—
Receivable from Investment Advisor		27,957		4,735
Prepaid Expenses		68,972		18,026

Total Assets		554,742,739		145,880,827

LIABILITIES
Payable for Fund Shares Redeemed		292,376		4,306
Accrued Directors’ Fees and Expenses		10,063		3,157
Accrued Management Fees		264,268		79,418
Accrued Distribution Fees		45,964		3,601
Transfer Agent Fees Payable		94,709		22,923
Administration Fee Payable		33,656		15,491
Audit Fees Payable		13,234		16,304
Accounting Fees Payable		15,871		7,056
Custodian Fees Payable		17,670		11,427
Legal Fees Payable		42,157		1,205
Other Accrued Expenses		30,001		20,808

Total Liabilities		859,969		185,696

NET ASSETS	$	553,882,770	$	145,695,131

NET ASSETS CONSIST OF:
Paid-in Capital	$	337,454,700	$	92,676,760
Accumulated Earnings (Loss)		216,428,070		53,018,371

NET ASSETS	$	553,882,770	$	145,695,131

NET ASSETS ATTRIBUTABLE TO:
I Class Share	$	322,833,141	$	127,119,869

I-3 Class Share	$	11,939	$	—

N Class Share	$	231,037,690	$	18,575,262

CAPITAL SHARES OUTSTANDING: ⁽³⁾
I Class Share		19,854,784		4,017,429

I-3 Class Share		1,484		—

N Class Share		14,327,639		615,367

NET ASSET VALUE PER SHARE: ⁽⁴⁾
I Class Share	$	16.26	$	31.64

I-3 Class Share	$	8.05	$	—

N Class Share	$	16.13	$	30.19

(1)	The identified cost for the TCW Relative Value Large Cap Fund and the TCW Relative Value Mid Cap Fund at April 30, 2026 was $385,025,844 and $98,876,014, respectively.

(2)	The identified cost for the TCW Relative Value Large Cap Fund and the TCW Relative Value Mid Cap Fund at April 30, 2026 was $1,200,000 and $5,647,000, respectively.

(3)	The number of authorized shares, with a par value of $0.001 per share, is 4,000,000,000 for each of the I Class, I-3 Class and N Class shares.

(4)	Represents offering price and redemption price per share.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Operations (Unaudited)

Six Months Ended April 30, 2026


	TCW Concentrated Large Cap Growth Fund			TCW Conservative Allocation Fund			TCW Global Real Estate Fund
INVESTMENT INCOME
Income:
Dividends	$	1,108,171	⁽¹⁾	$	12,255		$	599,183	⁽¹⁾
Dividends from Investment in Affiliated Issuers		118,951			683,154			9,319
Interest		41,405			2,434			2,617

Total		1,268,527			697,843			611,119

Expenses:
Management Fees		2,227,059			—			162,793
Accounting Services Fees		2,235			2,459			2,769
Administration Fees		24,345			6,818			7,072
Transfer Agent Fees:
I Class		231,732			6,336			14,056
I-3 Class		2,829			—			—
N Class		71,713			3,362			6,035
Custodian Fees		247			1,713			4,474
Professional Fees		19,885			6,796			9,613
Directors’ Fees and Expenses		43,623			2,112			2,693
Registration Fees:
I Class		11,799			8,230			7,362
I-3 Class		1,859			—			—
N Class		9,296			8,240			7,335
Distribution Fees:
N Class		153,570			754			11,258
Compliance Expense		3,097			3,097			3,097
Shareholder Reporting Expense		5,340			1,276			1,465
Repayment of Reimbursed Expenses:
I Class		13,609			—			—
Other		46,790			3,272			5,507

Total		2,869,028			54,465			245,529

Less Expenses Borne by Investment Advisor:
I Class		—			—			(33,790	)
I-3 Class		(3,891	)		—			—
N Class		(113,199	)		(11,216	)		(24,099	)

Net Expenses		2,751,938			43,249			187,640

Net Investment Income (Loss)		(1,483,411	)		654,594			423,479

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		42,222,212			76,345			(669,499	)
Investments in Affiliated Issuers		—			774,875			—
Realized Gain Received as Distribution from Affiliated Issuers		—			885,770			—
Foreign Currency		4			—			(2,926	)
Change in Unrealized Appreciation (Depreciation) on:
Investments		(85,066,985	)		177,295			4,630,150
Foreign Currency		—			—			1,719
Investments in Affiliated Issuers		—			(1,445,470	)		—

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions		(42,844,769	)		468,815			3,959,444

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(44,328,180	)	$	1,123,409		$	4,382,923

(1)	Net of foreign taxes withheld of $19,763 and $25,630 for the TCW Concentrated Large Cap Growth Fund and the TCW Global Real Estate Fund, respectively.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Operations (Unaudited)

Six Months Ended April 30, 2026


	TCW Relative Value Large Cap Fund			TCW Relative Value Mid Cap Fund
INVESTMENT INCOME
Income:
Dividends	$	4,624,570		$	846,256	⁽¹⁾
Dividends from Investment in Affiliated Issuers		153,572			41,253
Interest		—			9,316

Total		4,778,142			896,825

Expenses:
Management Fees		1,523,448			416,145
Accounting Services Fees		8,418			3,824
Administration Fees		18,239			8,395
Transfer Agent Fees:
I Class		74,511			36,046
I-3 Class		1,912			—
N Class		102,197			10,374
Custodian Fees		2,379			2,070
Professional Fees		10,153			11,593
Directors’ Fees and Expenses		29,728			5,794
Registration Fees:
I Class		9,979			8,830
I-3 Class		2,272			—
N Class		8,213			11,982
Distribution Fees:
N Class		277,109			20,608
Compliance Expense		3,097			3,097
Shareholder Reporting Expense		5,224			2,622
Repayment of Reimbursed Expenses:
I Class		5,305			1,434
N Class		754			—
Other		25,177			7,852

Total		2,108,115			550,666

Less Expenses Borne by Investment Advisor:
I Class		(5,189	)		(7,604	)
I-3 Class		(4,174	)		—
N Class		(155,272	)		(29,500	)

Net Expenses		1,943,480			513,562

Net Investment Income		2,834,662			383,263

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		50,855,089			11,610,645
Change in Unrealized Appreciation (Depreciation) on:
Investments		2,501,973			13,408,021

Net Realized and Unrealized Gain (Loss) on Investments		53,357,062			25,018,666

INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	56,191,724		$	25,401,929

(1)	Net of foreign taxes withheld of $4,580 for the TCW Relative Value Mid Cap Fund.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Concentrated Large Cap Growth Fund						TCW Conservative Allocation Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income (Loss)	$	(1,483,411	)	$	(3,019,601	)	$	654,594		$	1,146,515
Net Realized Gain on Investments and Foreign Currency Transactions		42,222,216			96,420,530			1,736,990			266,748
Change in Unrealized Appreciation (Depreciation) on Investments		(85,066,985	)		55,781,660			(1,268,175	)		1,295,355

Increase (Decrease) in Net Assets Resulting from Operations		(44,328,180	)		149,182,589			1,123,409			2,708,618

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(87,266,066	)		(101,404,869	)		(1,502,049	)		(2,211,908	)

NET CAPITAL SHARE TRANSACTIONS
I Class		36,547,228			39,923,343			535,278			1,605,499
I-3 Class		3,049,781			10,000	⁽¹⁾		—			—
N Class		804,537			3,840,607			119,944			(33,712	)

Increase in Net Assets Resulting from Net Capital Shares Transactions		40,401,546			43,773,950			655,222			1,571,787

Increase (Decrease) in Net Assets		(91,192,700	)		91,551,670			276,582			2,068,497
NET ASSETS
Beginning of period		774,788,429			683,236,759			35,019,189			32,950,692

End of period	$	683,595,729		$	774,788,429		$	35,295,771		$	35,019,189

(1)	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Global Real Estate Fund						TCW Relative Value Large Cap Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income	$	423,479		$	935,829		$	2,834,662		$	5,964,663
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		(672,425	)		359,341			50,855,089			102,282,320
Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Transactions		4,631,869			(1,184,257	)		2,501,973			(33,256,600	)

Increase in Net Assets Resulting from Operations		4,382,923			110,913			56,191,724			74,990,383

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(793,559	)		(861,351	)		(101,092,755	)		(29,049,858	)

NET CAPITAL SHARE TRANSACTIONS
I Class		(757,018	)		962,471			77,560,610			4,863,084
I-3 Class		—			—			3,605			10,000	⁽¹⁾
N Class		(401,986	)		(725,885	)		26,438,530			(14,218,192	)

Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		(1,159,004	)		236,586			104,002,745			(9,345,108	)

Increase (Decrease) in Net Assets		2,430,360			(513,852	)		59,101,714			36,595,417
NET ASSETS
Beginning of period		40,655,004			41,168,856			494,781,056			458,185,639

End of period	$	43,085,364		$	40,655,004		$	553,882,770		$	494,781,056

(1)	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Relative Value Mid Cap Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income	$	383,263		$	956,825
Net Realized Gain on Investments		11,610,645			19,057,094
Change in Unrealized Appreciation (Depreciation) on Investments		13,408,021			(8,626,517	)

Increase in Net Assets Resulting from Operations		25,401,929			11,387,402

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(19,438,653	)		(8,139,412	)

NET CAPITAL SHARE TRANSACTIONS
I Class		35,707,963			5,918,207
N Class		2,671,414			549,459

Increase in Net Assets Resulting from Net Capital Shares Transactions		38,379,377			6,467,666

Increase in Net Assets		44,342,653			9,715,656
NET ASSETS
Beginning of period		101,352,478			91,636,822

End of period	$	145,695,131		$	101,352,478

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited)

April 30, 2026

NOTE 1 — ORGANIZATION

TCW Funds, Inc. (the “Company”), a Maryland corporation, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). As of April 30, 2026, the Company consisted of 12 no-load mutual funds (each series, a “Fund” and collectively, the “Funds”). TCW Investment Management Company LLC (the “Advisor”) is the investment advisor to and an affiliate of the Funds and is registered under the Investment Advisers Act of 1940, as amended. Each Fund has its own investment objective and strategies. The following is a brief description of the investment objectives and principal investment strategies for the Funds that are covered in this report:


TCW Fund		Investment Objectives and Principal Investment Strategies
Diversified U.S. Equity Funds

TCW Concentrated Large Cap Growth Fund (Formerly, TCW Select Equities Fund)		Seeks to provide long-term capital appreciation by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in a concentrated portfolio of equity securities of large-capitalization companies (i.e., companies with market capitalizations, at the time of acquisition, within the capitalization range of the Russell 1000^® Growth Index).

TCW Global Real Estate Fund		Seeks to maximize total return from current income and long-term capital growth by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities of real estate investment trusts (“REITs”) and real estate companies. Under normal market conditions, the Fund invests in securities of issuers located in at least three different countries (one of which may be the United States) and invests at least 30% of its net assets, plus any borrowings for investment purposes, in securities of issuers domiciled outside the United States or whose primary business operations are outside the United States, including pooled investment vehicles domiciled in the United States that invest principally in non-U.S. securities.

TCW Relative Value Large Cap Fund		Seeks capital appreciation, with a secondary goal of current income, by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities of large-capitalization companies, meaning those with market capitalizations, at the time of acquisition, within the capitalization range of the companies comprising the Russell 1000^® Index.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 1 — ORGANIZATION (Continued)


TCW Fund		Investment Objectives and Principal Investment Strategies

TCW Relative Value Mid Cap Fund		Seeks to provide long-term capital appreciation by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities of mid-capitalization companies (i.e., companies with market capitalizations, at the time of acquisition, within the capitalization range of the companies comprising the Russell MidCap^® Index).
Fund of Funds

TCW Conservative Allocation Fund		Seeks to provide current income, and secondarily, long-term capital appreciation by investing in a combination of (i) fixed income funds, (ii) equity funds that utilize diverse investment styles, such as growth and/or value investing, and (iii) alternative funds investing in asset classes other than equity and fixed income such as commodities or currencies.

All of the Funds offer two classes of shares: I Class and N Class. As of August 25, 2025, each of TCW Concentrated Large Cap Growth Fund and TCW Relative Value Large Cap Fund also offers I-3 Class shares. Each class of a Fund is substantially the same except that the N Class shares are subject to a distribution fee (see Note 7).

The TCW Conservative Allocation Fund is a “fund of funds” that invests in affiliated and unaffiliated funds which are identified on the Schedule of Investments.

NOTE 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.

Net Asset Value: The net asset value (“NAV”) per share of each class of a Fund is determined by dividing the Fund’s net assets attributable to each class by the number of shares issued and outstanding of that class on each day the New York Stock Exchange (“NYSE”) is open for trading.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

which may not have been the last sale price. Options on equity securities and options on indexes were valued using mid prices (average of bid and ask prices) as reported by the exchange or pricing service. Investments in open-end mutual funds including money market funds were valued based on the NAV per share as reported by the investment companies. All other securities for which over-the-counter (“OTC”) market quotations were readily available, including short-term securities, swap agreements and forward currency exchange contracts, were valued with prices furnished by independent pricing services or by broker-dealers.

Pursuant to Rule 2a-5 under the 1940 Act, the Company’s Board of Directors (the “Board”, and each member thereof, a “Director”) has designated the Advisor 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. Fair valued securities are those for which market quotations were not readily available, including in circumstances under which it was determined by the Advisor that prices received were not reflective of their market values.

The Advisor, as the valuation designee, uses a fair valuation methodology for foreign equity securities (exclusive of certain Latin American and Canadian equity securities). This methodology is designed to address the effect of movements in the U.S. market on the securities traded on foreign exchanges that have been closed for a period of time due to time zone differences. The utilization of the fair value model may result in the adjustment of prices taking into account fluctuations in the U.S. market. The fair value model was utilized each trading day and was not dependent on certain thresholds or triggers.

Fair value is defined as the price that a Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Funds disclose investments in their financial statements in a three-tier hierarchy. This hierarchy is utilized to establish classification of fair value measurements based on inputs. Inputs that go into fair value measurement refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the inputs market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad levels listed below.


Level 1 —		quoted prices in active markets for identical investments.
Level 2 —		other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3 —		significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

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.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

Fair Value Measurements: Descriptions of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Equity securities. Securities are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded and valuation adjustments are not applied, they are generally categorized as Level 1 of the fair value hierarchy. Restricted securities issued by publicly held companies are generally categorized as Level 2 of the fair value hierarchy; if a discount is applied and significant, they are 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. Certain foreign securities that are fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets are categorized as Level 2 of the fair value hierarchy.

Mutual funds. Open-end mutual funds including money market funds are valued using the NAV as reported by the fund companies. As such, they are categorized as Level 1.

Options contracts. Options contracts traded on securities exchanges are fair valued using market mid prices; as such, they are categorized as Level 1. Option contracts traded 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 on a given strike price. To the extent that these inputs are observable and timely, the fair value of OTC option contracts would be categorized as Level 2; otherwise, the fair values would be categorized as Level 3.

Restricted securities. Restricted securities, including illiquid Rule 144A securities, issued by 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 valued similar to publicly traded securities may be categorized as Level 2 or 3 of the fair value hierarchy depending on whether a discount is applied and significant to the fair value.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

Warrants. Warrants are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded, and valuation adjustments are not applied, they are generally categorized as Level 1 of the fair value hierarchy.

The summary of the fair valuations according to the inputs used as of April 30, 2026 in valuing the Funds’ investments is listed after the Schedule of Investments for each Fund.

Security Transactions and Related Investment Income: Dividend income is recorded on the ex-dividend date. Interest income is recognized on an accrual basis. Realized gains and losses on investments are recorded on the basis of specific identification.

Allocation of Operating Activity for Multiple Classes: Investment income, common expenses and realized and unrealized gains and losses are allocated among the share classes of the Funds based on the relative net assets of each class. Distribution fees, which are directly attributable to a class of shares, are charged to the operations of that class. All other expenses are charged to each Fund or class as incurred on a specific identification basis. Differences in class- specific fees and expenses will result in differences in net investment income for each class, and in turn differences in dividends paid by each class.

Dividends and Distributions: Dividends and distributions to shareholders are recorded on the ex-dividend date. The TCW Global Real Estate Fund declares and pays, or reinvests, dividends from net investment income quarterly. The other Equity Funds and TCW Conservative Allocation Fund declare and pay, or reinvest, dividends from net investment income annually. Capital gains realized by a Fund will be distributed at least annually.

Income and capital gain distributions are determined in accordance with income tax regulations which may differ from GAAP. These differences are primarily due to differing treatments for foreign currency transactions, derivative transactions, market discount and premium, losses deferred due to wash sales, excise tax regulations and employing equalization in determining amounts to be distributed to Fund shareholders. Permanent book and tax basis differences relating to shareholder distributions will result in reclassifications between paid-in capital, undistributed net investment income (loss), and/or undistributed accumulated realized gain (loss). Undistributed net investment income or loss may include temporary book and tax basis differences which will reverse in subsequent periods. Any taxable income or capital gain remaining at fiscal year-end is distributed in the following year. Distributions received from real estate investment trusts may include return of capital which is treated as a reduction in the cost basis of those investments. Distributions received, if any, in excess of the cost basis of a security are recognized as capital gain.

Use of Estimates: The preparation of the accompanying financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 included in, or are a reduction of, 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.

Derivative Instruments: Derivatives are financial instruments which are valued based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. A derivative contract may result in a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. It is possible that a derivative transaction will result in a loss greater than the principal amount invested. The Funds may not be able to close out a derivative transaction at a favorable time or price.

For the period ended April 30, 2026, none of the Funds had derivatives or transactions in derivatives.

Counterparty Credit Risk: Derivative contracts may be exposed to counterparty risk. Losses can occur if the counterparty does not perform under the contract.

The Funds’ risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Funds.

With exchange-traded 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, the Funds do 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 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.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 declines by a stated percentage or a 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 pledged or received by a Fund.

Cash collateral that has been pledged to cover obligations of a Fund is reported separately on the Statement of Assets and Liabilities. Non-cash collateral pledged by a Fund, if any, is noted in the Schedule of Investments. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold, typically $250,000 or $500,000, before a transfer is required, which is determined at the close of each business day and the collateral is transferred on the next business day. 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. The Funds attempt to mitigate counterparty risk by entering into agreements only with counterparties that the Advisor 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 Statement of Assets and Liabilities. The Funds have implemented the disclosure requirements pursuant to ASC 210 Balance Sheet (“ASC 210”), Disclosures about Offsetting Assets and Liabilities that requires disclosures to make financial statements that are prepared under GAAP more comparable to those prepared under International Financial Reporting Standards.

Master Agreements and Netting Arrangements. Certain Funds are parties to various agreements, including but not limited to International Swaps and Derivatives Association Agreements and related Credit Support Annex, Master Repurchase Agreements, and Master Securities Forward Transactions Agreements (collectively “Master Agreements”), which govern the terms of certain transactions with select counterparties. These Master Agreements generally include provisions for general obligations, representations, agreements, collateral, and certain events of default or termination. These Master Agreements also include provisions for netting arrangements that help reduce credit and counterparty risk associated with relevant transactions (“netting arrangements”). The netting arrangements are generally tied to credit-related events that, if triggered, would cause an event of default or termination giving a Fund or counterparty the right to terminate early and cause settlement, on a net basis, of all transactions under the applicable Master Agreement. In the event of an early termination as a result of an event of default under the Master Agreement, the total value exposure of all transactions will be offset against collateral exchanged to date, which would result in a net receivable or payable that would be due from or to the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in the event of a bankruptcy or insolvency of the counterparty. Credit-related events include, but are not limited to, bankruptcy, failure to make timely payments, restructuring, obligation acceleration, obligation default, a material decline in net assets, decline in credit rating or

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

repudiation/moratorium. Any election made by a counterparty to early terminate the transactions under a Master Agreement could have a material adverse impact on a Fund’s financial statements. A Fund’s overall exposure to credit risk, subject to netting arrangements, can change substantially within a short period, as it is affected by each transaction subject to the arrangement.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions under the relevant Master Agreement with a counterparty in a given Fund exceeds a specified threshold, net of collateral already in place, typically $250,000 or $500,000 depending on the counterparty and the type of Master Agreement. Collateral under the Master Agreements is usually in the form of cash or U.S. Treasury Bills but could include other types of securities. If permitted under the Master Agreement, certain funds may rehypothecate cash collateral received from a counterparty. The value of all derivative transactions outstanding under a Master Agreement is calculated daily to determine the amount of collateral to be received or pledged by the counterparty. Posting of collateral for OTC derivative transactions are covered under tri-party collateral agreements between the Fund, the Fund’s custodian, and each counterparty. Collateral for centrally cleared derivatives transactions are posted with the applicable derivatives clearing organization.

The Funds had no OTC derivatives for offset under an ISDA Master Agreement or similar agreements as of April 30, 2026.

NOTE 3 — PORTFOLIO INVESTMENTS

When-Issued, Delayed-Delivery and Forward Commitment Transactions: The Funds, with the exception of the TCW Conservative Allocation Fund, may enter into when-issued, delayed-delivery, or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of each Fund’s existing portfolio. In when-issued, delayed delivery, or forward commitment transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If a 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 the Fund may have missed an opportunity to make an alternative investment.

Prior to settlement of these transactions, the value of the subject securities will fluctuate with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them. There were no when-issued, delayed-delivery or forward commitment transactions in the Funds during the period ended April 30, 2026.

TCW Funds, Inc.

April 30, 2026

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA 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. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Fund’s obligation under bankruptcy law to return the excess to the counterparty. There were no repurchase agreements outstanding as of April 30, 2026.

Securities Lending: The Funds may lend their securities to qualified brokers. The loans must be collateralized at all times primarily with cash although the Funds can accept money market instruments or U.S. Government securities with a market value at least equal to the market value of the securities on loan. As with any extensions of credit, the Funds may bear the risk of delay in recovery or even loss of rights in the collateral if the borrowers of the securities fail financially. The Funds earn additional income for lending their securities by investing the cash collateral in short-term investments. The Funds did not lend any securities during the period ended April 30, 2026.

Derivatives:

Options: The Funds may purchase and sell put and call options on a security or an index of securities to enhance investment performance and/or to protect against changes in market prices. The Funds may also enter into currency options to hedge against or to take advantage of currency fluctuations.

A call option gives the holder the right to purchase, and obligates the writer to sell, a security at the strike price at any time before the expiration date. A put option gives the holder the right to sell, and obligates the writer to buy, a security at the exercise price at any time before the expiration date. A Fund may purchase put options to protect portfolio holdings against a decline in market value of a security or securities held by it. A Fund may also purchase a put option hoping to profit from an anticipated decline in the value of the underlying security. If a Fund holds the security underlying the option, the option premium and any transaction costs will reduce any profit the Fund might have realized had it sold the underlying security instead of buying the put option. A Fund may purchase call options to hedge against an increase in the price of securities that the Fund ultimately wants to buy. A Fund may also purchase a call option as a long directional investment hoping to profit from an anticipated increase in the value of the underlying security. In order for a call option to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit a Fund might have realized had it bought the underlying security at the time it purchased the call option.

Purchasing foreign currency options gives a Fund the right, but not the obligation, to buy or sell specified amounts of currency at a rate of exchange that may be exercised by a certain date. These currency options may be used as a short or long hedge against possible variations in foreign exchange rates or to gain exposure to foreign currencies.

When a Fund purchases an option, it runs the risk that it will lose its entire investment in the option in a relatively short period of time, unless the Fund exercises the option or enters into a closing sale transaction before the option’s expiration. If the price of the underlying security does not rise (in the case of a call) or fall (in the case of a put) to an extent sufficient to cover the option premium and transaction costs, the Fund will lose part or all of its investment in the option. Premiums paid for purchasing options that expire are treated as realized losses.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

Options purchased or sold by a Fund may be traded on a securities or options exchange. Such options typically have minimal exposure to counterparty risk. However, an exchange or market may at times find it necessary to impose restrictions on particular types of options transactions, such as opening transactions. If an underlying security ceases to meet qualifications imposed by an exchange or the Options Clearing Corporation, new series of options on that security will no longer be opened to replace the expiring series, and opening transactions in existing series may be prohibited.

OTC options are options not traded on exchanges or backed by clearinghouses. Rather, they are entered into directly between a Fund and the counterparty to the option. In the case of an OTC option purchased by a Fund, the value of the option to the Fund will depend on the willingness and ability of the option writer to perform its obligations to the Fund. In addition, OTC options may not be transferable and there may be little or no secondary market for them, so they may be considered illiquid. It may not be possible to enter into closing transactions with respect to OTC options or otherwise to terminate such options, and as a result a Fund may be required to remain obligated on an unfavorable OTC option until its expiration.

During the period ended April 30, 2026, the Funds did not enter into option contracts.

NOTE 4 — RISK CONSIDERATIONS

Market Risk: The Funds’ investments will fluctuate with market conditions, and 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.

Counterparty Risk: The Funds may be exposed to counterparty risk, the risk that an entity with which the Funds have unsettled or open transactions may not fulfill its obligations.

Investment Style Risk: Certain Funds may also be subject to investment style risk. The Advisor’s investment styles may be out of favor at times or may not produce the best results over short or longer time periods and may increase the volatility of a Fund’s share price.

Equity Risk: Equity securities may include common stock, preferred stock or other securities representing an ownership interest or the right to acquire an ownership interest in an issuer. Equity risk is the risk that stocks and other equity securities generally fluctuate in value more than bonds and can decline in value over short or extended periods. The value of stocks and other equity securities will be affected by changes in a company’s financial condition and in overall market, economic and political conditions.

Concentration Risk: Although the TCW Concentrated Large Cap Growth Fund technically remains a diversified fund, as of the end of the reporting period, the relative increase in the market value of certain holdings has made the Fund’s portfolio sufficiently concentrated that investors in the Fund are now subject to the same risks as investing in a non-diversified mutual fund. Non-diversification risk is the risk that the Fund may be more susceptible to any single economic, political or regulatory event

TCW Funds, Inc.

April 30, 2026

NOTE 4 — RISK CONSIDERATIONS (Continued)

than a diversified fund because a higher percentage of the Fund’s assets may be invested in the securities of a limited number of issuers. There can be no assurances as to when or whether the Fund will become less concentrated.

NOTE 5 — FEDERAL INCOME TAXES

It is the policy of each Fund to comply with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its net taxable income, including any net realized gains on investments, to its shareholders. Therefore, no federal income tax provision is required.

At April 30, 2026, net unrealized appreciation (depreciation) on investments for federal income tax purposes was as follows:


	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)		Cost of Investments for Federal Income Tax Purposes
TCW Concentrated Large Cap Growth Fund	$	429,412,790	$	(13,903,731	)	$	415,509,060	$	267,849,419
TCW Conservative Allocation Fund		3,459,340		(1,481,721	)		1,977,619		33,365,803
TCW Global Real Estate Fund		6,941,728		(2,186,545	)		4,755,183		38,330,598
TCW Relative Value Large Cap Fund		172,013,689		(9,110,672	)		162,903,018		389,391,245
TCW Relative Value Mid Cap Fund		42,979,179		(1,983,153	)		40,996,026		104,710,976

At October 31, 2025, the components of distributable earnings on a tax basis were as follows:


	Undistributed Ordinary Income		Undistributed Long-Term Gain		Total Distributable Earnings
TCW Concentrated Large Cap Growth Fund	$	—	$	87,272,809	$	87,272,809
TCW Conservative Allocation Fund		662,554		527,958		1,190,512
TCW Global Real Estate Fund		418,109		—		418,109
TCW Relative Value Large Cap Fund		4,937,796		95,285,529		100,223,325
TCW Relative Value Mid Cap Fund		383,509		19,048,593		19,432,102

For the fiscal year ended October 31, 2025, the tax character of distributions paid was as follows :


	Ordinary Income		Long-Term Capital Gain		Total Distributions
TCW Concentrated Large Cap Growth Fund	$	—	$	101,404,869	$	101,404,869
TCW Conservative Allocation Fund		1,437,531		774,377		2,211,908
TCW Global Real Estate Fund		861,351		—		861,351
TCW Relative Value Large Cap Fund		3,506,515		25,543,343		29,049,858
TCW Relative Value Mid Cap Fund		656,371		7,483,041		8,139,412

At October 31, 2025, the following Funds had net realized losses that will be carried forward indefinitely for federal income tax purposes:


	Short-Term Capital Losses		Long-Term Capital Losses		Total
TCW Global Real Estate Fund	$	7,255,099	$	—	$	7,255,099

The Funds did not have any unrecognized tax benefits at April 30, 2026, nor were there any increases or decreases in unrecognized tax benefits for the period ended April 30, 2026. The Funds are subject to examination by the U.S. Federal and state tax authorities for returns filed for the prior three and four fiscal years, respectively.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 6 — FUND MANAGEMENT FEES AND OTHER EXPENSES

The Funds pay to the Advisor, as compensation for services rendered, facilities furnished and expenses borne by it, the following annual management fees as a percentage of daily net assets:


TCW Concentrated Large Cap Growth Fund			0.65%
TCW Global Real Estate Fund			0.80%
TCW Relative Value Large Cap Fund			0.60%
TCW Relative Value Mid Cap Fund			0.70%

The TCW Conservative Allocation Fund does not pay management fees to the Advisor; however, the Fund pays management fees indirectly as a shareholder in the underlying affiliated funds.

The Advisor limits the operating expenses of the Funds not to exceed the following expense ratios relative to the Funds’ average daily net assets:


TCW Concentrated Large Cap Growth Fund
I Class	0.80% ⁽¹	⁾
I-3 Class	0.88% ⁽¹	⁾
N Class	1.00% ⁽¹	⁾
TCW Conservative Allocation Fund
I Class	0.85% ⁽¹	⁾
N Class	0.85% ⁽¹	⁾
TCW Global Real Estate Fund
I Class	0.90% ⁽¹	⁾
N Class	1.00% ⁽¹	⁾
TCW Relative Value Large Cap Fund
I Class	0.70% ⁽¹	⁾
I-3 Class	0.80% ⁽¹	⁾
N Class	0.85% ⁽¹	⁾
TCW Relative Value Mid Cap Fund
I Class	0.85% ⁽¹	⁾
N Class	0.95% ⁽¹	⁾

(1)	These limitations are based on an agreement between the Advisor and the Company.

Any advisory fee reduced or withheld, or expense reimbursement paid, pursuant to the Expense Limitation Agreement by or from the Advisor shall be reimbursed by the appropriate Fund to the Advisor in the first, second or third fiscal year after the fiscal year of the reduction or reimbursement to the extent approved by the disinterested Directors. The Advisor may not request or receive reimbursement for previous reductions or reimbursements before payment of a Fund’s operating expenses for the current year, and cannot cause a Fund to exceed the expense limitation in effect for that Fund (i) at the time the fees and expenses would have been incurred or (ii) at the time the Advisor would recoup that reduction or reimbursement. In addition, any recoupment may not exceed any more restrictive limitation to which the Advisor has agreed.

At April 30, 2026, the balance of recoupable expenses with expiration dates for the Funds were as follows:


Fund	Expires 10/31/2027		Expires 10/31/2028		Expires 10/31/2029		Total
TCW Concentrated Large Cap Growth Fund	$	180,680	$	216,251	$	117,090	$	514,021
TCW Conservative Allocation Fund		27,625		23,271		11,216		62,112
TCW Global Real Estate Fund		186,816		167,550		57,889		409,255
TCW Relative Value Large Cap Fund		334,503		473,263		163,159		970,925
TCW Relative Value Mid Cap Fund		139,689		152,432		37,021		329,142

Total	$	869,313	$	1,029,767	$	386,375	$	2,285,455

TCW Funds, Inc.

April 30, 2026

NOTE 6 — FUND MANAGEMENT FEES AND OTHER EXPENSES (Continued)

During the period ended April 30, 2026, the Advisor recouped $13,609, $6,059 and $1,434 from TCW Concentrated Large Cap Growth Fund, TCW Relative Value Large Cap Fund and TCW Relative Value Mid Cap Fund, respectively.

Directors’ Fees: The Funds pay each Independent Director an annual retainer of $92,500. In addition, each Independent Director receives a per-meeting fee for every Board of Directors meeting attended. For in-person attendance, the fee is $6,500 per meeting. For telephonic attendance, the fee is $1,000 for meetings lasting more than one hour and $500 for meetings lasting one hour or less. The Independent Chair of the Board of Directors receives an additional annual retainer of $37,500. The Independent Vice Chair receives an additional annual retainer of $25,000. The Chairs of the Audit Committee and the Nominating and Governance Committee each receive an additional annual retainer of $6,250. These retainers and meeting fees are prorated across each series of the Company. The Independent Directors are also reimbursed for travel and other out-of-pocket expenses incurred by them in connection with attending meetings of the Board or a committee of the Board. Interested Directors and officers who are employed by the Advisor or an affiliated company thereof receive no compensation or expense reimbursement from the Company. Directors do not receive any pension or retirement benefits as a result of their service as a Director of the Corporation. The expenses related to the annual retainer and meeting fees are recorded in the Statement of Operations.

NOTE 7 — DISTRIBUTION PLAN

TCW Funds Distributors LLC (“Distributor”), an affiliate of the Advisor and the Funds, serves as the nonexclusive distributor of each class of the Funds’ shares. The Funds have a distribution plan pursuant to Rule 12b-1 under the 1940 Act with respect to the N Class shares of each Fund. Under the terms of the plan, each Fund compensates the Distributor at a rate equal to 0.25% of the average daily net assets of the Fund attributable to its N Class shares for distribution and related services.

NOTE 8 — TRANSACTIONS WITH AFFILIATES

The ownership percentage of the TCW Conservative Allocation Fund in each of the affiliated underlying funds at April 30, 2026 is as follows:


Name of Affiliated Fund	Ownership Percentage ⁽¹⁾
TCW Artificial Intelligence ETF		1.30	%
TCW Durable Growth ETF		0.82	%
TCW Concentrated Large Cap Growth Fund — I Class		0.22	%
TCW Emerging Markets Income Fund — I Class		0.01	%
TCW Global Bond Fund — I Class		4.30	%
TCW Global Real Estate Fund — I Class		2.56	%
TCW MetWest High Yield Bond Fund — I Class		0.10	%
TCW MetWest Low Duration Bond Fund — I Class		0.07	%
TCW MetWest Total Return Bond Fund — I Class		0.03	%
TCW MetWest Unconstrained Bond Fund — I Class		0.14	%
TCW Relative Value Large Cap Fund — I Class		0.66	%
TCW Relative Value Mid Cap Fund — I Class		0.52	%
TCW Securitized Bond Fund — I Class		0.53	%
TCW Transform Supply Chain ETF		1.76	%
TCW Transform Systems ETF		0.08	%
TCW White Oak Emerging Markets Equity Fund — I Class		1.55	%

(1)	Percentage ownership based on total net assets of the underlying fund.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 8 — TRANSACTIONS WITH AFFILIATES (Continued)

The financial statements of the Funds not contained in this report are available by calling 800-FUND-TCW (800-386-3829) or by going to the SEC website at www.sec.gov.

NOTE 9 — PURCHASES AND SALES OF SECURITIES

Investment transactions (excluding short-term investments) for the six months ended April 30, 2026 were as follows:


	Purchases at Cost		Sales or Maturity Proceeds
TCW Concentrated Large Cap Growth Fund	$	64,343,965	$	111,114,951
TCW Conservative Allocation Fund		5,728,298		4,962,896
TCW Global Real Estate Fund		18,005,751		19,417,989
TCW Relative Value Large Cap Fund		201,919,767		195,747,789
TCW Relative Value Mid Cap Fund		53,021,398		38,907,685

NOTE 10 — CAPITAL SHARE TRANSACTIONS

Transactions in each Fund’s shares were as follows:


TCW Concentrated Large Cap Growth Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		1,854,104		$	57,189,409			3,242,684		$	99,342,193
Shares Issued upon Reinvestment of Dividends		1,661,297			50,270,833			1,832,528			56,771,727
Shares Redeemed		(2,359,341	)		(70,913,014	)		(3,664,727	)		(116,190,577	)

Net Increase		1,156,060		$	36,547,228			1,410,485		$	39,923,343


I-3 Class ⁽¹⁾	Shares			Amount			Shares			Amount
Shares Sold		504,158		$	3,051,932			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		584			3,771			—			—
Shares Redeemed		(1,021	)		(5,922	)		—			—

Net Increase		503,721		$	3,049,781			1,000		$	10,000


N Class	Shares			Amount			Shares			Amount
Shares Sold		61,508		$	1,368,641			204,175		$	4,944,233
Shares Issued upon Reinvestment of Dividends		858,427			18,988,400			989,781			23,358,824
Shares Redeemed		(887,915	)		(19,552,504	)		(1,001,832	)		(24,462,450	)

Net Increase		32,020		$	804,537			192,124		$	3,840,607


(1) I-3 Class commenced operations on August 26, 2025.

TCW Conservative Allocation Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		86,162		$	1,040,606			375,908		$	4,548,912
Shares Issued upon Reinvestment of Dividends		123,934			1,467,377			189,882			2,153,256
Shares Redeemed		(161,920	)		(1,972,705	)		(427,227	)		(5,096,669	)

Net Increase		48,176		$	535,278			138,563		$	1,605,499


N Class	Shares			Amount			Shares			Amount
Shares Sold		28,664		$	345,834			1,429		$	16,587
Shares Issued upon Reinvestment of Dividends		1,728			20,492			3,227			36,660
Shares Redeemed		(20,434	)		(246,382	)		(7,171	)		(86,959	)

Net Increase (Decrease)		9,958		$	119,944			(2,515	)	$	(33,712	)

TCW Funds, Inc.

April 30, 2026

NOTE 10 — CAPITAL SHARE TRANSACTIONS (Continued)


TCW Global Real Estate Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		460,665		$	5,786,118			475,511		$	5,781,257
Shares Issued upon Reinvestment of Dividends		46,213			564,475			52,585			629,394
Shares Redeemed		(552,386	)		(7,107,611	)		(450,377	)		(5,448,180	)

Net Increase (Decrease)		(45,508	)	$	(757,018	)		77,719		$	962,471


N Class	Shares			Amount			Shares			Amount
Shares Sold		10,458		$	136,790			52,157		$	639,123
Shares Issued upon Reinvestment of Dividends		14,541			177,311			15,386			184,545
Shares Redeemed		(56,550	)		(716,087	)		(128,884	)		(1,549,553	)

Net Decrease		(31,551	)	$	(401,986	)		(61,341	)	$	(725,885	)


TCW Relative Value Large Cap Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		3,164,561		$	50,459,539			1,415,251		$	22,941,941
Shares Issued upon Reinvestment of Dividends		3,630,906			54,645,136			945,026			14,846,351
Shares Redeemed		(1,756,619	)		(27,544,065	)		(2,038,844	)		(32,925,208	)

Net Increase		5,038,848		$	77,560,610			321,433		$	4,863,084


I-3 Class ⁽¹⁾	Shares			Amount			Shares			Amount
Shares Sold		—		$	—			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		484			3,605			—			—

Net Increase		484		$	3,605			1,000		$	10,000


N Class	Shares			Amount			Shares			Amount
Shares Sold		221,283		$	3,526,672			428,975		$	6,876,908
Shares Issued upon Reinvestment of Dividends		2,991,875			44,668,691			867,665			13,570,275
Shares Redeemed		(1,386,281	)		(21,756,833	)		(2,158,753	)		(34,665,375	)

Net Increase (Decrease)		1,826,877		$	26,438,530			(862,113	)	$	(14,218,192	)


(1) I-3 Class commenced operations on August 26, 2025.

TCW Relative Value Mid Cap Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		753,626		$	21,748,312			100,214		$	3,046,761
Shares Issued upon Reinvestment of Dividends		597,452			16,298,478			236,487			6,742,253
Shares Redeemed		(79,923	)		(2,338,827	)		(131,218	)		(3,870,807	)

Net Increase		1,271,155		$	35,707,963			205,483		$	5,918,207


N Class	Shares			Amount			Shares			Amount
Shares Sold		48,688		$	1,379,968			39,174		$	1,052,365
Shares Issued upon Reinvestment of Dividends		114,653			2,985,567			46,871			1,287,073
Shares Redeemed		(62,087	)		(1,694,121	)		(63,900	)		(1,789,979	)

Net Increase		101,254		$	2,671,414			22,145		$	549,459

NOTE 11 — AFFILIATE OWNERSHIP

As of April 30, 2026, affiliates of the Funds and Advisor owned 26.15% of the net assets of the TCW Global Real Estate Fund.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 12 — RESTRICTED SECURITIES

The Funds are permitted to invest in securities that have legal or contractual restrictions on resale. These securities may be sold privately, but are required to be registered before being sold to the public (exemption rules apply). Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). However, the Company considers 144A securities to be restricted if those securities have been deemed illiquid. Disposal of these securities may involve time consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. There were no restricted securities held by the Funds at April 30, 2026.

NOTE 13 — COMMITTED LINE OF CREDIT

The Funds, together with the TCW Metropolitan West Funds and TCW ETF Trust, have entered into a $250,000,000 committed revolving line of credit agreement with State Street Bank and Trust Company (the “Bank”) 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 six months ended April 30, 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 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.

NOTE 14 — INDEMNIFICATIONS

Under the Company’s organizational documents, its Officers and Directors may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Company. In addition, the Company entered into an agreement with each of the Directors which provides that the Company will indemnify and hold harmless each Director against any expenses actually and reasonably incurred by such Director in any proceeding arising out of or in connection with the Director’s services to the Company, to the fullest extent permitted by the Company’s Articles of Incorporation and By-Laws, the Maryland General Corporation Law, the Securities Act, and the 1940 Act, each as now or hereinafter in force. Additionally, in the normal course of business, the Company enters into agreements with service providers that may contain indemnification clauses. The Company’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Company that have not yet occurred. However, based on experience, the Company expects the risk of loss to be remote. The Company has not accrued any liability in connection with such indemnification.

NOTE 15 — SEGMENT REPORTING

TCW Funds, Inc.

April 30, 2026

NOTE 15 — SEGMENT REPORTING (Continued)

A senior executive team comprised of the Funds’ Principal Executive Officer and Principal Financial Officer, serves as the Funds’ chief operating decision maker (“CODM”), which acts in accordance with Board of Director 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 Statements of Operations.

NOTE 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 period ended April 30, 2026.

NOTE 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.

TCW Concentrated Large Cap Growth Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	35.49		$	33.42		$	25.37		$	25.79		$	44.70		$	34.13

Income (Loss) from Investment Operations:
Net Investment Loss⁽¹⁾		(0.06	)		(0.13	)		(0.05	)		(0.04	)		(0.12	)		(0.14	)
Net Realized and Unrealized Gain (Loss) on Investments		(1.88	)		6.98			11.38			3.82			(13.71	)		13.23

Total from Investment Operations		(1.94	)		6.85			11.33			3.78			(13.83	)		13.09

Less Distributions:
Distributions from Net Realized Gain		(3.77	)		(4.78	)		(3.28	)		(4.20	)		(5.08	)		(2.52	)

Total Distributions		(3.77	)		(4.78	)		(3.28	)		(4.20	)		(5.08	)		(2.52	)

Net Asset Value per Share, End of period	$	29.78		$	35.49		$	33.42		$	25.37		$	25.79		$	44.70

Total Return		(5.63	%)⁽²⁾		22.53	%		47.90	%		18.60	%		(34.93	%)		40.32	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	563,496		$	630,587		$	546,751		$	429,236		$	462,670		$	801,597

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.78	%⁽³⁾		0.78	%		0.78	%		0.77	%		0.79	%		0.77	%

After Expense Reimbursement		0.78	%⁽³⁾		0.77	%		0.78	%		0.77	%		0.79	%		0.77	%

Ratio of Net Investment Loss to Average Net Assets		(0.41	%)⁽³⁾		(0.40	%)		(0.17	%)		(0.16	%)		(0.38	%)		(0.37	%)

Portfolio Turnover Rate⁽⁴⁾		9.33	%⁽²⁾		16.69	%		12.77	%		10.42	%		12.12	%		8.17	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Concentrated Large Cap Growth Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.66		$	10.00⁽¹	⁾

Income (Loss) from Investment Operations:
Net investment loss⁽²⁾		(0.01	)		(0.01	)
Net Realized and Unrealized Gain (Loss) on Investments		(0.53	)		0.67

Total from investment operations		(0.54	)		0.66

Less Distributions:
Distributions from Net Realized Gain		(3.77	)		—

Total distributions		(3.77	)		—

Net Asset Value per Share, End of period	$	6.35		$	10.66

Total Return		(5.66	)%⁽³⁾		6.60	%⁽⁵⁾

Ratios/Supplemental data:

Net assets, end of period (in thousands)	$	3,207		$	11

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.76	%⁽⁴⁾		1.77	%⁽⁴⁾

After Expense Reimbursement		0.88	%⁽⁴⁾		0.87	%⁽⁴⁾

Ratio of Net Investment Income to Average Net Assets		(0.51	%)⁽⁴⁾		(0.60	%)⁽⁴⁾

Portfolio Turnover Rate⁽⁶⁾		9.33	%⁽⁵⁾		16.69	%⁽⁵⁾

(1)	I-3 Class commenced operations on August 26, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	For the six months ended April 30, 2026 and not indicative of a full year’s results.

(4)	Annualized.

(5)	Not annualized.

(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.

TCW Concentrated Large Cap Growth Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	27.00		$	26.51		$	20.73		$	21.89		$	38.76		$	29.95

Income (Loss) from Investment Operations:
Net Investment Loss⁽¹⁾		(0.06	)		(0.13	)		(0.08	)		(0.06	)		(0.15	)		(0.19	)
Net Realized and Unrealized Gain (Loss) on Investments		(1.41	)		5.40			9.14			3.10			(11.64	)		11.52

Total from Investment Operations		(1.47	)		5.27			9.06			3.04			(11.79	)		11.33

Less Distributions:
Distributions from Net Realized Gain		(3.77	)		(4.78	)		(3.28	)		(4.20	)		(5.08	)		(2.52	)

Total Distributions		(3.77	)		(4.78	)		(3.28	)		(4.20	)		(5.08	)		(2.52	)

Net Asset Value per Share, End of period	$	21.76		$	27.00		$	26.51		$	20.73		$	21.89		$	38.76

Total Return		(5.67	)%⁽²⁾		22.41	%		47.65	%		18.50	%		(35.03	)%		40.06	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	116,892		$	144,190		$	136,486		$	106,292		$	104,856		$	193,727

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.08	%⁽³⁾		1.06	%		1.06	%		1.06	%		1.08	%		1.04	%

After Expense Reimbursement		0.89	%⁽³⁾		0.90	%		0.93	%		0.93	%		0.94	%		0.96	%

Ratio of Net Investment Loss to Average Net Assets		(0.52	%)⁽³⁾		(0.53	%)		(0.33	%)		(0.32	%)		(0.53	%)		(0.56	%)

Portfolio Turnover Rate⁽⁴⁾		9.33	%⁽²⁾		16.69	%		12.77	%		10.42	%		12.12	%		8.17	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Conservative Allocation Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	12.37		$	12.22		$	10.48		$	10.57		$	13.96		$	12.22

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.23			0.42			0.38			0.32			0.23			0.13
Net Realized and Unrealized Gain (Loss) on Investments		0.16			0.57			1.71			0.09			(2.35	)		1.80

Total from Investment Operations		0.39			0.99			2.09			0.41			(2.12	)		1.93

Less Distributions:
Distributions from Net Investment Income		(0.23	)		(0.50	)		(0.35	)		(0.22	)		(0.30	)		(0.12	)
Distributions from Net Realized Gain		(0.32	)		(0.34	)		—			(0.28	)		(0.97	)		(0.07	)

Total Distributions		(0.55	)		(0.84	)		(0.35	)		(0.50	)		(1.27	)		(0.19	)

Net Asset Value per Share, End of period	$	12.21		$	12.37		$	12.22		$	10.48		$	10.57		$	13.96

Total Return		3.23	%⁽²⁾		8.74	%		20.22	%		3.97	%		(16.80	%)		15.92	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	34,668		$	34,507		$	32,412		$	27,165		$	27,624		$	35,264

Ratio of Expenses to Average Net Assets:⁽³⁾

Before Expense Reimbursement		0.24	%⁽⁴⁾		0.31	%		0.52	%		0.44	%		0.41	%		0.44	%

After Expense Reimbursement		N/A			N/A			N/A			N/A			N/A			N/A

Ratio of Net Investment Income to Average Net Assets		3.82	%⁽⁴⁾		3.54	%		3.23	%		3.00	%		1.96	%		0.94	%

Portfolio Turnover Rate⁽⁵⁾		14.31	%⁽²⁾		24.78	%		31.18	%		23.57	%		16.20	%		26.34	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Does not include expenses of the underlying affiliated funds.

(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.

See accompanying Notes to Financial Statements.

TCW Conservative Allocation Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	12.35		$	12.25		$	10.49		$	10.57		$	13.97		$	12.22

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.20			0.37			0.37			0.30			0.17			0.09
Net Realized and Unrealized Gain (Loss) on Investments		0.16			0.57			1.72			0.09			(2.34	)		1.81

Total from Investment Operations		0.36			0.94			2.09			0.39			(2.17	)		1.90

Less Distributions:
Distributions from Net Investment Income		(0.18	)		(0.50	)		(0.33	)		(0.19	)		(0.26	)		(0.08	)
Distributions from Net Realized Gain		(0.32	)		(0.34	)		—			(0.28	)		(0.97	)		(0.07	)

Total Distributions		(0.50	)		(0.84	)		(0.33	)		(0.47	)		(1.23	)		(0.15	)

Net Asset Value per Share, End of period	$	12.21		$	12.35		$	12.25		$	10.49		$	10.57		$	13.97

Total Return		3.02	%⁽²⁾		8.37	%		20.02	%		3.78	%		(17.08	)%		15.64	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	628		$	512		$	539		$	317		$	347		$	736

Ratio of Expenses to Average Net Assets:⁽³⁾

Before Expense Reimbursement		4.40	%⁽⁴⁾		4.92	%		6.08	%		7.18	%		4.18	%		3.73	%

After Expense Reimbursement		0.68	%⁽⁴⁾		0.68	%		0.68	%		0.67	%		0.67	%		0.68	%

Ratio of Net Investment Income to Average Net Assets		3.35	%⁽⁴⁾		3.14	%		3.11	%		2.75	%		1.41	%		0.70	%

Portfolio Turnover Rate⁽⁵⁾		14.31	%⁽²⁾		24.78	%		31.18	%		23.57	%		16.20	%		26.34	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Does not include expenses of the underlying affiliated funds.

(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.

See accompanying Notes to Financial Statements.

TCW Global Real Estate Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	12.37		$	12.59		$	9.60		$	10.31		$	15.45		$	11.07

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.13			0.28			0.27			0.28			0.27			0.36
Net Realized and Unrealized Gain (Loss) on Investments		1.17			(0.24	)		2.94			(0.83	)		(3.98	)		4.30

Total from Investment Operations		1.30			0.04			3.21			(0.55	)		(3.71	)		4.66

Less Distributions:
Distributions from Net Investment Income		(0.25	)		(0.26	)		(0.22	)		(0.16	)		(0.45	)		(0.28	)
Distributions from Net Realized Gain		—			—			—			—			(0.85	)		—
Distributions from Return of Capital		—			—			—			—			(0.13	)		—

Total Distributions		(0.25	)		(0.26	)		(0.22	)		(0.16	)		(1.43	)		(0.28	)

Net Asset Value per Share, End of period	$	13.42		$	12.37		$	12.59		$	9.60		$	10.31		$	15.45

Total Return		10.71	%⁽²⁾		0.36	%		33.41	%		(5.34	%)		(26.38	%)		42.32	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	33,576		$	31,501		$	31,081		$	16,001		$	17,741		$	24,949

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.11	%⁽³⁾		1.17	%		1.42	%		1.34	%		1.32	%		1.45	%

After Expense Reimbursement		0.90	%⁽³⁾		0.90	%		0.90	%		0.90	%		0.90	%		0.92	%

Ratio of Net Investment Income to Average Net Assets		2.10	%⁽³⁾		2.32	%		2.24	%		2.57	%		2.12	%		2.50	%

Portfolio Turnover Rate⁽⁴⁾		44.76	%⁽²⁾		59.50	%		71.48	%		65.26	%		167.41	%		164.29	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Global Real Estate Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	12.35		$	12.57		$	9.59		$	10.30		$	15.43		$	11.06

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.13			0.25			0.25			0.26			0.25			0.33
Net Realized and Unrealized Gain (Loss) on Investments		1.16			(0.23	)		2.94			(0.82	)		(3.97	)		4.30

Total from Investment Operations		1.29			0.02			3.19			(0.56	)		(3.72	)		4.63

Less Distributions:
Distributions from Net Investment Income		(0.24	)		(0.24	)		(0.21	)		(0.15	)		(0.44	)		(0.26	)
Distributions from Net Realized Gain		—			—			—			—			(0.85	)		—
Distributions from Return of Capital		—			—			—			—			(0.12	)		—

Total Distributions		(0.24	)		(0.24	)		(0.21	)		(0.15	)		(1.41	)		(0.26	)

Net Asset Value per Share, End of period	$	13.40		$	12.35		$	12.57		$	9.59		$	10.30		$	15.43

Total Return		10.69	%⁽²⁾		0.27	%		33.35	%		(5.54	)%		(26.43	)%		42.10	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	9,510		$	9,154		$	10,088		$	7,595		$	11,608		$	14,634

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.54	%⁽³⁾		1.61	%		1.85	%		1.71	%		1.64	%		1.90	%

After Expense Reimbursement		1.00	%⁽³⁾		1.00	%		1.00	%		1.00	%		1.00	%		1.03	%

Ratio of Net Investment Income to Average Net Assets		2.01	%⁽³⁾		2.10	%		2.14	%		2.42	%		1.95	%		2.36	%

Portfolio Turnover Rate⁽⁴⁾		44.76	%⁽²⁾		59.50	%		71.48	%		65.26	%		167.41	%		164.29	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Relative Value Large Cap Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	18.16		$	16.48		$	12.66		$	13.10		$	15.04		$	10.84

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.09			0.22			0.19			0.20			0.19			0.18
Net Realized and Unrealized Gain (Loss) on Investments		1.70			2.52			4.30			0.26			(0.90	)		5.07

Total from Investment Operations		1.79			2.74			4.49			0.46			(0.71	)		5.25

Less Distributions:
Distributions from Net Investment Income		(0.21	)		(0.13	)		(0.20	)		(0.20	)		(0.19	)		(0.22	)
Distributions from Net Realized Gain		(3.48	)		(0.93	)		(0.47	)		(0.70	)		(1.04	)		(0.83	)

Total Distributions		(3.69	)		(1.06	)		(0.67	)		(0.90	)		(1.23	)		(1.05	)

Net Asset Value per Share, End of period	$	16.26		$	18.16		$	16.48		$	12.66		$	13.10		$	15.04

Total Return		11.49	%⁽²⁾		17.58	%		36.37	%		3.61	%		(5.56	%)		50.84	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	322,833		$	269,091		$	238,897		$	97,169		$	101,088		$	117,205

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.70	%⁽³⁾		0.72	%		0.77	%		0.82	%		0.83	%		0.80	%

After Expense Reimbursement		0.70	%⁽³⁾		0.70	%		0.70	%		0.70	%		0.70	%		0.70	%

Ratio of Net Investment Income to Average Net Assets		1.18	%⁽³⁾		1.36	%		1.23	%		1.49	%		1.43	%		1.31	%

Portfolio Turnover Rate⁽⁵⁾		38.83	%⁽²⁾		61.97	%		38.69	%⁽⁴⁾		19.65	%		17.81	%		17.16	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(4)	The portfolio turnover calculation was adjusted to exclude the value of securities acquired in connection with the Fund’s acquisition of the assets of the TCW Relative Value Dividend Appreciation Fund on June 17, 2024. The portfolio turnover rate would have been 39.50% without the adjustment.

(5)	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.

TCW Relative Value Large Cap Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.71		$	10.00⁽¹	⁾

Income (Loss) from Investment Operations:
Net investment income⁽²⁾		0.05			0.01
Net Realized and Unrealized Gain on Investments		0.89			0.70

Total from investment operations		0.94			0.71

Less Distributions:
Distributions from Net Investment Income		(0.12	)		—
Distributions from Net Realized Gain		(3.48	)		—

Total distributions		(3.60	)		—

Net Asset Value per Share, End of period	$	8.05		$	10.71

Total Return		11.53	%⁽³⁾		7.10	%⁽³⁾

Ratios/Supplemental data:

Net assets, end of period (in thousands)	$	12		$	11

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		76.58	%⁽⁴⁾		0.91	%⁽⁴⁾

After Expense Reimbursement		0.78	%⁽⁴⁾		0.80	%⁽⁴⁾

Ratio of Net Investment Income to Average Net Assets		1.11	%⁽⁴⁾		0.73	%⁽⁴⁾

Portfolio Turnover Rate⁽⁵⁾		38.83	%⁽³⁾		61.97	%⁽³⁾

(1)	I-3 Class commenced operations on August 26, 2025.

(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.

See accompanying Notes to Financial Statements.

TCW Relative Value Large Cap Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	18.05		$	16.41		$	12.60		$	13.04		$	14.97		$	10.79

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.08			0.20			0.16			0.17			0.17			0.15
Net Realized and Unrealized Gain (Loss) on Investments		1.69			2.50			4.29			0.26			(0.91	)		5.05

Total from Investment Operations		1.77			2.70			4.45			0.43			(0.74	)		5.20

Less Distributions:
Distributions from Net Investment Income		(0.21	)		(0.13	)		(0.17	)		(0.17	)		(0.15	)		(0.19	)
Distributions from Net Realized Gain		(3.48	)		(0.93	)		(0.47	)		(0.70	)		(1.04	)		(0.83	)

Total Distributions		(3.69	)		(1.06	)		(0.64	)		(0.87	)		(1.19	)		(1.02	)

Net Asset Value per Share, End of period	$	16.13		$	18.05		$	16.41		$	12.60		$	13.04		$	14.97

Total Return		11.45	%⁽²⁾		17.39	%		36.17	%		3.41	%		(5.72	)%		50.56	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	231,038		$	225,679		$	219,289		$	8,337		$	9,007		$	10,506

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.99	%⁽⁵⁾		1.02	%		1.05	%		1.32	%		1.34	%		1.30	%

After Expense Reimbursement		0.85	%⁽⁵⁾		0.85	%		0.85	%		0.90	%		0.90	%		0.90	%

Ratio of Net Investment Income to Average Net Assets		1.03	%⁽⁵⁾		1.22	%		1.01	%		1.29	%		1.23	%		1.11	%

Portfolio Turnover Rate⁽⁴⁾		38.83	%⁽²⁾		61.97	%		38.69	%⁽³⁾		19.65	%		17.81	%		17.16	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	The portfolio turnover calculation was adjusted to exclude the value of securities acquired in connection with the Fund’s acquisition of the assets of the TCW Relative Value Dividend Appreciation Fund on June 17, 2024. The portfolio turnover rate would have been 39.50% without the adjustment.

(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)	Annualized.

See accompanying Notes to Financial Statements.

TCW Relative Value Mid Cap Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	31.27		$	30.38		$	23.24		$	23.57		$	29.62		$	18.90

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.10			0.30			0.61			0.21			0.19			0.17
Net Realized and Unrealized Gain (Loss) on Investments		6.12			3.29			7.15			0.05			(2.80	)		10.72

Total from Investment Operations		6.22			3.59			7.76			0.26			(2.61	)		10.89

Less Distributions:
Distributions from Net Investment Income		(0.05	)		(0.29	)		(0.21	)		(0.20	)		(0.16	)		(0.17	)
Distributions from Net Realized Gain		(5.80	)		(2.41	)		(0.41	)		(0.39	)		(3.28	)		—

Total Distributions		(5.85	)		(2.70	)		(0.62	)		(0.59	)		(3.44	)		(0.17	)

Net Asset Value per Share, End of period	$	31.64		$	31.27		$	30.38		$	23.24		$	23.57		$	29.62

Total Return		22.88	%⁽²⁾		12.69	%		33.77	%		1.15	%		(10.35	%)		57.90	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	127,120		$	85,881		$	77,197		$	59,647		$	62,726		$	72,545

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.86	%⁽³⁾		0.93	%		0.99	%		0.97	%		1.01	%		0.97	%

After Expense Reimbursement		0.85	%⁽³⁾		0.85	%		0.85	%		0.85	%		0.85	%		0.85	%

Ratio of Net Investment Income to Average Net Assets		0.66	%⁽³⁾		1.03	%		2.18	%		0.86	%		0.75	%		0.63	%

Portfolio Turnover Rate⁽⁴⁾		32.93	%⁽²⁾		64.79	%		38.54	%		27.55	%		28.82	%		44.33	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Relative Value Mid Cap Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	30.09		$	29.35		$	22.46		$	22.79		$	28.75		$	18.34

Income (Loss) from Investment Operations:
Net Investment Income⁽¹⁾		0.08			0.26			0.56			0.18			0.16			0.14
Net Realized and Unrealized Gain (Loss) on Investments		5.87			3.17			6.92			0.05			(2.71	)		10.42

Total from Investment Operations		5.95			3.43			7.48			0.23			(2.55	)		10.56

Less Distributions:
Distributions from Net Investment Income		(0.05	)		(0.28	)		(0.18	)		(0.17	)		(0.13	)		(0.15	)
Distributions from Net Realized Gain		(5.80	)		(2.41	)		(0.41	)		(0.39	)		(3.28	)		—

Total Distributions		(5.85	)		(2.69	)		(0.59	)		(0.56	)		(3.41	)		(0.15	)

Net Asset Value per Share, End of period	$	30.19		$	30.09		$	29.35		$	22.46		$	22.79		$	28.75

Total Return		22.85	%⁽²⁾		12.56	%		33.66	%		1.05	%		(10.45	)%		57.78	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	18,575		$	15,471		$	14,440		$	11,801		$	13,181		$	16,708

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.31	%⁽³⁾		1.32	%		1.39	%		1.36	%		1.39	%		1.37	%

After Expense Reimbursement		0.95	%⁽³⁾		0.95	%		0.95	%		0.95	%		0.95	%		0.95	%

Ratio of Net Investment Income to Average Net Assets		0.55	%⁽³⁾		0.93	%		2.08	%		0.76	%		0.65	%		0.54	%

Portfolio Turnover Rate⁽⁴⁾		32.93	%⁽²⁾		64.79	%		38.54	%		27.55	%		28.82	%		44.33	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Funds, Inc.

Supplemental Information

Proxy Voting Guidelines

The policies and procedures that the Company uses to determine how to vote proxies are available without charge. The Board of the Company has delegated the Company’s proxy voting authority to the Advisor.

Disclosure of Proxy Voting Guidelines

The proxy voting guidelines of the Advisor are available:

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the TCW website at https://www.tcw.com/Global-Proxy-Voting-Policy; or

By going to the SEC website at http://www.sec.gov.

When the Company receives a request for a description of the Advisor’s proxy voting guidelines, it will deliver the description that is disclosed on TCW’s website. 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 Advisor, on behalf of the Company, prepares and files Form N-PX with the SEC not later than August 31 of each year, which includes the Company’s proxy voting record for the most recent twelve-month period ended June 30 of that year. The Company’s proxy voting record for the most recent twelve-month period ended June 30 is available without charge:

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the SEC website at http://www.sec.gov.

When the Company receives a request for the Company’s proxy voting record, it will send the information disclosed in the Company’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 Company 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 Company 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 Company’s first and third quarters and are available on the SEC’s website at www.sec.gov.

LOGO

TCW Funds, Inc.

515 South Flower Street

Los Angeles, CA 90071

800 386 3829

tcw.com

Board of Directors

Patrick C. Haden

Martin Luther King III

Peter McMillan

Victoria B. Rogers

Robert G. Rooney

Michael Swell

Andrew Tarica

David Vick

Richard Villa

Advisor

TCW Investment Management Company 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 Villa

President and Principal Executive Officer

Treasurer, Principal Financial Officer

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; (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.

LOGO

Semi-Annual

Financial

Statements

and Other Information Form N-CSR Items 7-11

April 30, 2026

LOGO

TCW Funds, Inc.

Table of Contents

April 30, 2026


Schedules of Investments (Unaudited)			1

TCW Central Cash Fund			1

TCW Core Fixed Income Fund			4

TCW Global Bond Fund			19

TCW Securitized Bond Fund			33

Statements of Assets and Liabilities (Unaudited)			50

Statements of Operations (Unaudited)			52

Statements of Changes in Net Assets (Unaudited)			53

Notes to Financial Statements (Unaudited)			55

Financial Highlights (Unaudited)			85

Supplemental Information (Unaudited)			96

TCW Central Cash Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues			Shares		Value

SHORT -TERM INVESTMENTS — 111.6% of Net Assets

MONEY MARKET INVESTMENTS — 0.1%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3. 60% ⁽¹⁾

				5,055,595	$	5,055,595


Total Money Market Investments (Cost: $5,055,595)					5,055,595


Issues	Maturity Date		Principal Amount		Value

REPURCHASE AGREEMENTS — 40.3%

JP Morgan Securities Issued 4/30/26, repurchase date 5/1/26 (Collateralized by U.S. Treasury Securities valued at $510,000,081, 3.38%, due 12/31/27)

3.64%		05/01/26	$	500,000,000		500,000,000

Barclays Capital, Inc. Issued 4/30/26, repurchase date 5/1/26 (Collateralized by U.S. Treasury Securities valued at $510,000,086, 3.13% — 3.88%, due 4/30/30 — 2/15/42)

3.64%		05/01/26		500,000,000		500,000,000

Bank of Montreal Issued 4/30/26, repurchase date 5/1/26 (Collateralized by U.S. Treasury Securities valued at $306,000,090, 0.00% — 4.63%, due 6/15/26 — 8/15/34)

3.64%		05/01/26		300,000,000		300,000,000

Bank of America NA Issued 4/30/26, repurchase date 5/1/26 (Collateralized by U.S. Treasury Securities valued at $510,000,026, 0.00% — 5.38%, due 1/15/28 — 8/15/52)

3.64%		05/01/26		500,000,000		500,000,000


Total Repurchase Agreements (Cost: $1,800,000,000)					1,800,000,000


U.S. GOVERNMENT AGENCY OBLIGATIONS — 37.6%

Federal Home Loan Mortgage Corp. STRIPS (443-AB)

4.00%		04/25/27		25,000,000		24,947,266

Federal Home Loan Mortgage Corp. STRIPS (431-LB)

4.00%		04/25/27		25,399,750		25,352,125

Federal Home Loan Banks

3.92%		03/24/27		100,000,000		100,000,000

Federal Home Loan Banks

3.66% (1 day USD SOFR + 0.030%) ⁽²⁾		12/10/26		100,000,000		100,000,000

Federal Home Loan Banks

3.66% (1 day USD SOFR + 0.025%) ⁽²⁾		10/20/26		100,000,000		100,000,000

Federal Home Loan Banks

3.65% (1 day USD SOFR + 0.020%) ⁽²⁾		05/28/26		100,000,000		100,000,000

Federal Home Loan Banks

3.65% (1 day USD SOFR + 0.020%) ⁽²⁾		05/08/26		100,000,000		100,000,000

Issues

Maturity
Date

Principal
Amount

Value

U.S. GOVERNMENT AGENCY OBLIGATIONS (Continued)

Federal Home Loan Banks

3.65% (1 day USD SOFR + 0.015%) ⁽²⁾

09/11/26

100,000,000

Federal Home Loan Banks

3.65% (1 day USD SOFR + 0.015%) ⁽²⁾

07/17/26

100,000,000

Federal Home Loan Banks

3.65% (1 day USD SOFR + 0.015%) ⁽²⁾

06/18/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.010%) ⁽²⁾

09/22/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.010%) ⁽²⁾

08/18/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.010%) ⁽²⁾

06/02/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.005%) ⁽²⁾

08/10/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.005%) ⁽²⁾

08/03/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.005%) ⁽²⁾

06/22/26

100,000,000

Federal Home Loan Banks

3.64% (1 day USD SOFR + 0.005%) ⁽²⁾

05/04/26

100,000,000

Federal Home Loan Banks

3.63% (1 day USD SOFR + 0.000%) ⁽²⁾

05/20/26

100,000,000

Federal Farm Credit Banks Funding Corp.

3.65% (1 day USD SOFR + 0.020%) ⁽²⁾

05/07/26

25,000,000

Total U.S. Government Agency Obligations

(Cost: $1,675,299,391)

1,675,299,391

See accompanying Notes to Financial Statements.

TCW Central Cash Fund

Schedule of Investments (Unaudited) (Continued)

Issues

Maturity
Date

Principal
Amount

Value

U.S. TREASURY SECURITIES — 33.6%

U.S. Treasury Floating Rate Notes

3.83% (3 mo. Treasury Money Market Yield + 0.205%) ⁽²⁾

10/31/26

100,000,000

100,076,366

U.S. Treasury Bills

3.80% ⁽³⁾

03/18/27

100,000,000

96,780,192

U.S. Treasury Bills

5.16% ⁽³⁾

05/07/26

265,111,000

264,950,497

U.S. Treasury Bills

3.57% ⁽³⁾

06/11/26

140,000,000

139,426,797

U.S. Treasury Bills

3.67% ⁽³⁾

05/07/26

14,000,000

13,991,579

U.S. Treasury Bills

3.65% ⁽³⁾

05/21/26

27,500,000

27,445,199

U.S. Treasury Bills

3.68% ⁽³⁾

05/28/26

78,700,000

78,486,772

U.S. Treasury Bills

3.65% ⁽³⁾

06/04/26

301,083,000

300,062,161

U.S. Treasury Bills

3.66% ⁽³⁾

06/04/26

68,246,000

68,014,286

U.S. Treasury Bills

3.67% ⁽³⁾

06/04/26

210,300,000

209,584,682

U.S. Treasury Bills

3.66% ⁽³⁾

05/12/26

72,798,000

72,717,866

U.S. Treasury Bills

3.69% ⁽³⁾

05/12/26

112,300,000

112,175,578

U.S. Treasury Bills

3.66% ⁽³⁾

06/09/26

17,500,000

17,431,864

Total U.S. Treasury Securities

(Cost: $1,501,143,839)

1,501,143,839

Total Short-Term Investments

(Cost: $4,981,498,825)

4,981,498,825

Total Investments (111.6%)

(Cost: $4,981,498,825)

4,981,498,825

Liabilities In Excess Of Other Assets (-11.6%)

(518,433,968)

Net Assets (100.0%)

$ 4,463,064,857

Notes to the Schedule of Investments:

SOFR

Secured Overnight Financing Rate.

STRIPS

Separate Trading of Registered Interest and Principal Securities.

(1)

Rate disclosed is the 7-day net yield as of April 30,2026.

(2)

Floating or variable rate security. The interest shown reflects the rate in effect at April 30,2026.

(3)

Rate shown represents yield-to-maturity.

See accompanying Notes to Financial Statements.

TCW Central Cash Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Short -Term Investments
Repurchase Agreement	$	—	$	1,800,000,000	$	—	$	1,800,000,000
U.S. Government Agency Obligations		—		1,675,299,391		—		1,675,299,391
U.S. Treasury Securities		—		1,501,143,839		—		1,501,143,839
Money Market Investments		5,055,595		—		—		5,055,595

Total Short -Term Investments		5,055,595		4,976,443,230		—		4,981,498,825

Total Investments	$	5,055,595	$	4,976,443,230	$	—	$	4,981,498,825

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited)


Issues	Maturity Date		Principal Amount		Value

FIXED INCOME SECURITIES — 104.9% of Net Assets

CORPORATE BONDS — 14.8%

Aerospace/Defense — 0.2%

General Electric Co.

4.39% (3 mo. USD Term SOFR + 0.742%) ⁽¹⁾		08/15/36	$	895,000	$	844,826


Agriculture — 0.2%

Imperial Brands Finance PLC (United Kingdom)

3.88% ⁽²⁾		07/26/29		35,000		34,298

4.50% ⁽²⁾		06/30/28		1,060,000		1,061,028


						1,095,326


Airlines — 0.2%

United Airlines Pass-Through Trust Series 2023-1, Class A

5.80%		07/15/37		906,075		939,373


Auto Manufacturers — 0.1%

Volkswagen Group of America Finance LLC (Germany)

5.65% ⁽²⁾		03/25/32		15,000		15,298

Volkswagen International Finance NV (Germany)

7.88% (9 yr. EUR Swap + 4.783%) ^(1),(3),(4)		09/06/32	EUR	300,000		392,857


						408,155


Auto Parts & Equipment — 0.0%

Robert Bosch GmbH (Germany)

4.38% ⁽³⁾		06/02/43	EUR	200,000		227,959


Banks — 2.2%

Bank of America Corp.

1.73% (1 day USD SOFR + 0.960%)⁽¹⁾		07/22/27		780,000		775,429

1.92% (1 day USD SOFR + 1.370%)⁽¹⁾		10/24/31		345,000		306,208

2.50% (3 mo. USD Term SOFR + 1.252%) ⁽¹⁾		02/13/31		455,000		421,348

2.57% (1 day USD SOFR + 1.210%) ⁽¹⁾		10/20/32		310,000		276,805

Citigroup, Inc.

2.52% (1 day USD SOFR + 1.177%) ⁽¹⁾		11/03/32		410,000		363,399

3.89% (3 mo. USD Term SOFR + 1.825%) ⁽¹⁾		01/10/28		45,000		44,834

Goldman Sachs Group, Inc.

5.02% (1 day USD SOFR + 1.420%) ⁽¹⁾		10/23/35		5,000		4,919

5.09% (1 day USD SOFR + 1.340%) ⁽¹⁾		04/20/34		185,000		184,567


Issues	Maturity Date		Principal Amount		Value

Banks (Continued)

JPMorgan Chase & Co.

1.47% (1 day USD SOFR + 0.765%) ⁽¹⁾		09/22/27	$	350,000	$	346,126

1.95% (1 day USD SOFR + 1.065%) ⁽¹⁾		02/04/32		145,000		127,980

2.74% (3 mo. USD Term SOFR + 1.510%) ⁽¹⁾		10/15/30		1,070,000		1,007,726

4.20% (3 mo. USD Term SOFR + 1.522%) ⁽¹⁾		07/23/29		935,000		929,306

5.50% (1 day USD SOFR + 1.315%) ⁽¹⁾		01/24/36		45,000		46,092

Morgan Stanley

1.51% (1 day USD SOFR + 0.858%) ⁽¹⁾		07/20/27		1,145,000		1,138,313

2.51% (1 day USD SOFR + 1.200%) ⁽¹⁾		10/20/32		225,000		199,589

Morgan Stanley Private Bank NA

4.20% (1 day USD SOFR + 0.780%) ⁽¹⁾		11/17/28		1,255,000		1,250,909

4.73% (1 day USD SOFR + 1.080%) ⁽¹⁾		07/18/31		315,000		314,679

PNC Financial Services Group, Inc.

5.68% (1 day USD SOFR + 1.902%) ⁽¹⁾		01/22/35		20,000		20,622

Santander U.K. Group Holdings PLC (United Kingdom)

1.67% (1 day USD SOFR + 0.989%) ⁽¹⁾		06/14/27		491,000		489,198

Wells Fargo & Co.

3.58% (3 mo. USD Term SOFR + 1.572%) ⁽¹⁾		05/22/28		260,000		257,819

4.90% (1 day USD SOFR + 2.100%) ⁽¹⁾		07/25/33		315,000		314,209

5.15% (1 day USD SOFR + 1.500%) ⁽¹⁾		04/23/31		820,000		834,243

5.24% (1 day USD SOFR + 1.110%) ⁽¹⁾		01/24/31		770,000		785,138


						10,439,458


Beverages — 0.1%

Maple Parent Holdings Corp.

4.73% ⁽²⁾		03/26/35	EUR	205,000		241,464


Chemicals — 0.3%

International Flavors & Fragrances, Inc.

2.30% ⁽²⁾		11/01/30		1,185,000		1,060,670

3.27% ⁽²⁾		11/15/40		235,000		176,015


						1,236,685

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Commercial Services — 0.1%

AA Bond Co. Ltd. (United Kingdom)

5.50% ⁽³⁾		07/31/50	GBP	105,000	$	138,473

Rentokil Terminix Funding PLC (United Kingdom)

4.63% ⁽²⁾		04/23/31		480,000		475,416


						613,889


Diversified Financial Services — 0.8%

AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)

3.30%		01/30/32		1,285,000		1,175,942

American Express Co.

4.92% (1 day USD SOFR + 1.220%) ⁽¹⁾		07/20/33		415,000		416,141

Avolon Holdings Funding Ltd. (Ireland)

2.53% ⁽²⁾		11/18/27		389,000		377,116

Sumisho Air Lease Corp.

3.63%		12/01/27		400,000		393,976

4.63%		10/01/28		1,500,000		1,496,520


						3,859,695


Electric — 1.7%

Alliant Energy Corp.

5.75% (5 yr. CMT + 2.077%) ⁽¹⁾		04/01/56		370,000		363,592

American Electric Power Co., Inc.

5.80% (5 yr. CMT + 2.128%) ⁽¹⁾		03/15/56		200,000		199,436

Amprion GmbH (Germany)

4.58% ⁽³⁾		01/15/46	EUR	200,000		231,086

Appalachian Power Co.

5.65%		04/01/34		1,025,000		1,056,211

Ausgrid Finance Pty. Ltd. (Australia)

5.95% ⁽³⁾		12/10/35	AUD	210,000		147,133

CenterPoint Energy, Inc.

5.95% (5 yr. CMT + 2.223%) ⁽¹⁾		04/01/56		375,000		373,819

Dominion Energy, Inc.

6.00% (5 yr. CMT + 2.262%) ⁽¹⁾		02/15/56		500,000		501,400

6.20% (5 yr. CMT + 2.006%) ⁽¹⁾		02/15/56		560,000		560,834

Duke Energy Progress LLC

3.70%		10/15/46		1,000,000		746,930

Electricite de France SA

2.00% ⁽³⁾		12/09/49	EUR	400,000		279,350

4.75% ⁽³⁾		06/17/44	EUR	400,000		466,953

7.38% (5 yr. U.K. Government Bond + 3.775%) ^(1),(3),(4)		06/17/35	GBP	200,000		278,738


Issues	Maturity Date		Principal Amount		Value

Electric (Continued)

Elia Group SA (Belgium)

3.88% ⁽³⁾		06/11/31	EUR	200,000	$	235,551

EnBW Energie Baden-Wuerttemberg AG (Germany)

4.50% (5 yr. EURIBOR ICE Swap + 1.846%) ^(3),(1)		02/10/56	EUR	100,000		112,739

EnBW International Finance BV (Germany)

5.79% ⁽³⁾		02/26/36	AUD	210,000		145,128

Enel SpA (Italy)

4.50% (5 yr. EURIBOR ICE Swap + 1.821%) ^(3),(4),(1)		10/14/34	EUR	225,000		252,935

Entergy Corp.

6.10% (5 yr. CMT + 2.013%) ⁽¹⁾		06/15/56		555,000		553,279

Southern Co.

3.75% (5 yr. CMT + 2.915%) ⁽¹⁾		09/15/51		925,000		921,143

6.00% (5 yr. CMT + 1.993%) ⁽¹⁾		04/01/58		525,000		530,975

Southwestern Electric Power Co.

5.20%		04/01/36		5,000		4,934


						7,962,166


Engineering & Construction — 0.1%

Heathrow Funding Ltd. (United Kingdom)

4.50% ⁽³⁾		07/11/35	EUR	310,000		375,940

Sydney Airport Finance Co. Pty. Ltd.

5.90% ⁽³⁾		04/19/34	AUD	140,000		99,035


						474,975


Entertainment — 0.1%

Flutter Treasury DAC (Ireland)

6.13% ⁽³⁾		06/04/31	GBP	185,000		246,993


Food — 0.2%

JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings

3.00%		02/02/29		240,000		230,618

6.75%		03/15/34		82,000		89,424

JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL

6.50%		12/01/52		600,000		602,454


						922,496


Gas — 0.2%

National Gas Transmission PLC (United Kingdom)

4.25% ⁽³⁾		04/05/30	EUR	540,000		649,555

Nortegas Energia Grupo SL (Spain)

4.13% ⁽³⁾		01/21/33	EUR	200,000		229,875

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Gas (Continued)

Redexis SA

4.38% ⁽³⁾		05/30/31	EUR	200,000	$	237,402


						1,116,832


Health Care-Products — 0.3%

Abbott Laboratories

5.50%		03/15/56		270,000		261,290

Medline Borrower LP

3.88% ⁽²⁾		04/01/29		1,120,000		1,088,920

Sartorius Finance BV (Germany)

4.50% ⁽³⁾		09/14/32	EUR	100,000		121,068

4.88% ⁽³⁾		09/14/35	EUR	100,000		122,892


						1,594,170


Health Care-Services — 1.0%

Cigna Group

5.25%		01/15/36		770,000		771,032

Elevance Health, Inc.

2.55%		03/15/31		480,000		435,758

5.00%		01/15/36		515,000		505,843

5.38%		06/15/34		435,000		442,391

Fresenius Medical Care U.S. Finance III, Inc. (Germany)

1.88% ⁽²⁾		12/01/26		1,000,000		983,990

Humana, Inc.

5.55%		05/01/35		1,125,000		1,117,890

UnitedHealth Group, Inc.

5.63%		07/15/54		745,000		714,619


						4,971,523


Insurance — 0.6%

Farmers Exchange Capital II

6.15% (3 mo. USD Term SOFR + 4.006%) ^(1),(2)		11/01/53		2,065,000		2,010,835

Marsh & McLennan Cos., Inc.

4.95%		03/15/36		645,000		636,260

Teachers Insurance & Annuity Association of America

4.27% ⁽²⁾		05/15/47		130,000		104,272


						2,751,367


Internet — 0.9%

Airbnb, Inc.

5.25%		03/16/36		595,000		593,745

Alphabet, Inc.

3.50%		11/06/38	EUR	175,000		195,876

5.65%		02/15/56		625,000		613,112

Amazon.com, Inc.

4.85%		03/16/64	EUR	135,000		157,142

4.88%		03/13/36		340,000		335,155

5.45%		11/20/55		105,000		99,221

5.80%		03/13/56		485,000		477,555


Issues	Maturity Date		Principal Amount		Value

Internet (Continued)

Booking Holdings, Inc.

3.88%		03/21/45	EUR	165,000	$	170,576

Meta Platforms, Inc.

5.63%		11/15/55		1,470,000		1,348,299

6.30%		05/15/56		408,000		407,441


						4,398,122


Lodging — 0.1%

Las Vegas Sands Corp.

6.00%		06/14/30		555,000		572,316


Media — 0.4%

Time Warner Cable LLC

4.50%		09/15/42		1,475,000		1,111,118

5.50%		09/01/41		933,000		804,880


						1,915,998


Miscellaneous Manufacturers — 0.1%

Dyno Nobel Ltd. (Australia)

5.40%		11/08/32	AUD	140,000		96,490

Smiths Group PLC (United Kingdom)

3.63% ⁽³⁾		11/13/33	EUR	385,000		437,389


						533,879


Oil & Gas Services — 0.1%

Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.

4.74%		03/11/46	EUR	210,000		247,946

Petroleos Mexicanos

6.75%		09/21/47		181,000		152,502


						400,448


Packaging & Containers — 0.2%

Amcor Flexibles North America, Inc.

5.10%		03/17/30		235,000		238,048

Amcor U.K. Finance PLC (Australia)

3.75%		02/20/33	EUR	135,000		155,209

3.95%		05/29/32	EUR	515,000		605,020


						998,277


Pharmaceuticals — 0.4%

Bayer U.S. Finance II LLC (Germany)

4.38% ⁽²⁾		12/15/28		1,023,000		1,014,877

4.88% ⁽²⁾		06/25/48		865,000		713,435

CVS Health Corp.

4.78%		03/25/38		185,000		171,723


						1,900,035


Pipelines — 0.3%

Southern Natural Gas Co. LLC

7.35%		02/15/31		1,380,000		1,512,839

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Real Estate — 0.1%

Blackstone Property Partners Europe Holdings SARL (Luxemburg)

3.50% ⁽³⁾		01/29/31	EUR	125,000	$	143,839

DVI Deutsche Vermoegens- & Immobilienverwaltungs GmbH

4.88% ⁽³⁾		08/21/30	EUR	100,000		118,974

LEG Immobilien SE (Germany)

1.50% ⁽³⁾		01/17/34	EUR	100,000		96,113

Vonovia SE (Germany)

5.72% ⁽³⁾		09/03/35	AUD	220,000		148,953


						507,879


REIT — 1.9%

American Assets Trust LP

3.38%		02/01/31		360,000		327,748

American Tower Corp.

2.90%		01/15/30		750,000		706,237

4.70%		12/15/32		460,000		454,250

5.90%		11/15/33		250,000		262,175

CubeSmart LP

3.00%		02/15/30		317,000		298,642

Digital Dutch Finco BV

1.25% ⁽³⁾		02/01/31	EUR	560,000		586,954

Equinix Europe 2 Financing Corp. LLC (REIT)

3.63%		11/22/34	EUR	220,000		248,040

Extra Space Storage LP

2.40%		10/15/31		475,000		417,729

3.90%		04/01/29		250,000		245,537

GLP Capital LP/GLP Financing II, Inc.

4.00%		01/15/31		170,000		161,095

5.63%		03/01/36		220,000		216,003

5.75%		06/01/28		1,600,000		1,621,824

Healthcare Realty Holdings LP

2.05%		03/15/31		164,000		142,665

Hudson Pacific Properties LP

3.25%		01/15/30		168,000		143,825

4.65%		04/01/29		2,000		1,792

Invitation Homes Operating Partnership LP

2.00%		08/15/31		496,000		426,426

LXP Industrial Trust

2.38%		10/01/31		1,592,000		1,385,868

Prologis Euro Finance LLC

4.25%		01/31/43	EUR	450,000		503,775

Rexford Industrial Realty LP

2.15%		09/01/31		25,000		21,680

VICI Properties LP/VICI Notes Co., Inc.

3.88% ⁽²⁾		02/15/29		325,000		316,410

4.13% ⁽²⁾		08/15/30		41,000		39,358

WP Carey, Inc. (REIT)

3.75%		05/10/35	EUR	290,000		325,366


						8,853,399


Issues	Maturity Date		Principal Amount		Value

Semiconductors — 0.1%

Foundry JV Holdco LLC

5.50% ⁽²⁾		01/25/31	$	140,000	$	143,829

Intel Corp.

3.73%		12/08/47		305,000		218,142


						361,971


Software — 0.7%

Atlassian Corp.

5.50%		05/15/34		240,000		234,346

Fiserv, Inc.

5.25%		08/11/35		535,000		522,042

5.45%		03/15/34		105,000		104,375

5.63%		08/21/33		450,000		455,827

Oracle Corp.

3.60%		04/01/50		285,000		170,362

3.80%		11/15/37		175,000		138,561

3.95%		03/25/51		205,000		129,090

4.00%		11/15/47		370,000		243,756

4.80%		08/03/28		140,000		139,846

6.55%		02/04/46		315,000		292,550

6.70%		02/04/56		190,000		175,222

Paychex, Inc.

5.35%		04/15/32		235,000		237,120

Salesforce, Inc.

5.55%		03/15/36		480,000		478,834


						3,321,931


Telecommunications — 0.6%

Global Switch Finance BV (United Kingdom)

1.38% ⁽³⁾		10/07/30	EUR	695,000		754,809

Road Michigan Property Owner I LLC

7.50% ⁽²⁾		03/30/45		135,000		135,288

Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC

5.15% ⁽²⁾		09/20/29		1,002,000		1,005,176

T-Mobile USA, Inc.

5.00%		02/15/36		700,000		685,804

5.05%		07/15/33		350,000		351,708


						2,932,785


Transportation — 0.1%

Aurizon Network Pty. Ltd. (Australia)

6.10% ⁽³⁾		09/12/31	AUD	320,000		229,723

Pacific National Finance Pty. Ltd. (Australia)

3.70%		09/24/29	AUD	420,000		275,686


						505,409


Water — 0.4%

DWR Cymru Financing U.K. PLC

2.38% ⁽³⁾		03/31/34	GBP	255,000		258,432

6.25% ⁽³⁾		09/08/37	GBP	185,000		246,018

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (Continued)

Issues

Maturity
Date

Principal
Amount

Value

Water (Continued)

Severn Trent Utilities Finance PLC

3.88% ⁽³⁾

08/04/37

EUR

145,000

164,928

Suez SACA (France)

2.88% ⁽³⁾

05/24/34

EUR

400,000

432,311

United Utilities Water Finance PLC (United Kingdom)

3.75% ⁽³⁾

05/23/34

EUR

190,000

220,811

Yorkshire Water Finance PLC (United Kingdom)

2.75% ⁽³⁾

04/18/41

GBP

200,000

167,220

6.38% ⁽³⁾

11/18/34

GBP

330,000

451,210

1,940,930

Total Corporate Bonds

(Cost: $70,631,239)

70,603,570

ASSET-BACKED SECURITIES — 8.4%

Aligned Data Centers Issuer LLC Series 2021-1A, Class A2

1.94% ⁽²⁾

08/15/46

690,000

684,729

Bain Capital Credit CLO Ltd. Series 2020-5A

4.83% (3 mo. USD Term SOFR + 1.150%) ^(1),(2)

04/20/34

1,200,000

1,200,611

Bain Capital Credit CLO Ltd. Series 2021-4A

4.68% (3 mo. USD Term SOFR + 1.000%) ^(1),(2)

10/20/34

1,200,000

1,200,767

Ballyrock CLO 20 Ltd. Series 2022-20A, Class A1A3 (I/O) (I/F)

4.72% (3 mo. USD Term SOFR + 1.050%) ^(1),(2)

10/15/36

1,200,000

1,198,253

Benefit Street Partners CLO XXV Ltd. Series 2021-25A, Class A1R

4.67% (3 mo. USD Term SOFR + 1.000%) ^(1),(2)

01/15/35

1,000,000

998,626

BlueMountain CLO Ltd. Series 2015-4A, Class CR2

4.98% (3 mo. USD Term SOFR + 1.300%) ^(1),(2)

04/20/30

400,000

399,914

Cedar Funding VI CLO Ltd. Series 2016-6A, Class AR3

4.77% (3 mo. USD Term SOFR + 1.090%) ^(1),(2)

04/20/34

1,200,000

1,201,480

Cloud Capital Holdco LP Series 2024-1A, Class A2

5.78% ⁽²⁾

11/22/49

925,000

928,187

Clover CLO LLC Series 2018-1A, Class A1RR

5.21% (3 mo. USD Term SOFR + 1.530%) ^(1),(2)

04/20/37

2,190,000

2,190,109

Dryden 40 Senior Loan Fund Series 2015-40A, Class AR2

4.80% (3 mo. USD Term SOFR + 1.150%) ^(1),(2)

08/15/31

599,003

599,458

Golub Capital Partners CLO 53B Ltd. Series 2021-53A, Class BR

5.03% (3 mo. USD Term SOFR + 1.350%) ^(1),(2)

07/20/34

1,300,000

1,301,279

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

1,100,000

1,100,295

JGWPT XXX LLC Series 2013-3A, Class A

4.08% ⁽²⁾

01/17/73

795,493

755,731

LCM 37 Ltd. Series 37A, Class A1R

4.73% (3 mo. USD Term SOFR + 1.060%) ^(1),(2)

04/15/34

1,562,195

1,562,096

Madison Park Funding XLIX Ltd. Series 2021-49A, Class AR

4.73% (3 mo. USD Term SOFR + 1.050%) ^(1),(2)

10/19/34

1,300,000

1,299,623

Magnetite XXIII Ltd. Series 2019-23A, Class AR2 (I/O) (I/F)

4.66% (3 mo. USD Term SOFR + 0.990%) ^(1),(2)

01/25/35

1,200,000

1,198,412

Navient Private Education Refi Loan Trust Series 2021-GA, Class A

1.58% ⁽²⁾

04/15/70

1,788,178

1,612,999

Octagon 57 Ltd. Series 2021-1A, Class AR

4.74% (3 mo. USD Term SOFR + 1.070%) ^(1),(2)

10/15/34

1,335,000

1,336,051

Park Avenue Institutional Advisers CLO Ltd. Series 2019-2A, Class A1RR (I/O) (I/F)

4.72% (3 mo. USD Term SOFR + 1.050%) ^(1),(2)

10/15/34

1,200,000

1,198,871

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

1,235,000

1,234,944

Rad CLO 21 Ltd. Series 2023-21A, Class A1R

4.74% (3 mo. USD Term SOFR + 1.070%) ^(1),(2)

01/25/37

1,100,000

1,097,527

Rockford Tower CLO Ltd. Series 2019-1A, Class AR2

4.78% (3 mo. USD Term SOFR + 1.100%) ^(1),(2)

04/20/34

1,450,000

1,450,705

Skyline Aviation, Inc. Class A

3.23%⁽⁵⁾

07/03/38

3,479,414

3,292,674

SLM Student Loan Trust Series 2003-7A, Class A5A

5.15% (90 day USD SOFR Average + 1.462%) ^(1),(2)

12/15/33

952,192

946,725

SLM Student Loan Trust Series 2008-2, Class B

5.13% (90 day USD SOFR Average + 1.462%) ⁽¹⁾

01/25/83

710,000

766,726

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026

Issues

Maturity
Date

Principal
Amount

Value

ASSET-BACKED SECURITIES (Continued)

SLM Student Loan Trust Series 2008-3, Class B

5.13% (90 day USD SOFR Average + 1.462%) ⁽¹⁾

04/26/83

710,000

743,702

SLM Student Loan Trust Series 2008-4, Class A4

5.58% (90 day USD SOFR Average + 1.912%) ⁽¹⁾

07/25/22

960,865

963,375

SLM Student Loan Trust Series 2008-4, Class B

5.78% (90 day USD SOFR Average + 2.112%) ⁽¹⁾

04/25/73

710,000

757,270

SLM Student Loan Trust Series 2008-5, Class B

5.78% (90 day USD SOFR Average + 2.112%) ⁽¹⁾

07/25/73

710,000

758,834

SLM Student Loan Trust Series 2008-6, Class B

5.78% (90 day USD SOFR Average + 2.112%) ⁽¹⁾

07/26/83

710,000

740,478

SLM Student Loan Trust Series 2008-7, Class B

5.78% (90 day USD SOFR Average + 2.112%) ⁽¹⁾

07/26/83

710,000

713,455

Symphony CLO XXIV Ltd. Series 2020-24A, Class A1R

4.80% (3 mo. USD Term SOFR + 1.130%) ^(1),(2)

10/23/35

1,350,000

1,349,181

Thompson Park CLO Ltd. Series 2021-1A, Class A1R

4.72% (3 mo. USD Term SOFR + 1.050%) ^(1),(2)

04/15/34

1,100,000

1,100,591

Trinitas CLO XIV Ltd. Series 2020-14A, Class A1R2

4.77% (3 mo. USD Term SOFR + 1.100%) ^(1),(2)

01/25/34

1,156,787

1,157,093

Trinitas CLO XX Ltd. Series 2022-20A, Class A1R

4.72% (3 mo. USD Term SOFR + 1.040%) ^(1),(2)

07/20/35

1,200,000

1,200,312

Total Asset-Backed Securities

(Cost: $40,147,411)

40,241,083

COMMERCIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY — 5.2%

ALA Trust Series 2025-OANA, Class C

5.75% (1 mo. USD Term SOFR + 2.092%) ^(1),(2)

06/15/40

1,400,000

1,407,794

BAMLL Commercial Mortgage Securities Trust Series 2018-PARK, Class A

4.23% ^(2),(6)

08/10/38

1,930,000

1,891,423

Issues

Maturity
Date

Principal
Amount

Value

COMMERCIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY (Continued)

BSPDF Issuer LLC Series 2026-FL3, Class AS

5.36% (1 mo. USD Term SOFR + 1.700%) ^(1),(2)

09/18/43

1,210,000

1,211,903

BX Trust Series 2019-OC11, Class A

3.20% ⁽²⁾

12/09/41

1,485,000

1,409,415

BX Trust Series 2025-ARIA, Class B

5.35% ^(2),(6)

12/13/42

950,000

952,947

BX Trust Series 2025-VOLT, Class B

5.75% (1 mo. USD Term SOFR + 2.100%) ^(1),(2)

12/15/44

700,000

700,616

CSAIL Commercial Mortgage Trust Series 2020-C19, Class A3

2.56%

03/15/53

3,004,000

2,733,079

DGWD Trust Series 2025-INFL, Class B

5.45% (1 mo. USD Term SOFR + 1.800%) ^(1),(2)

08/15/35

1,200,000

1,197,966

Extended Stay America Trust Series 2025-ESH, Class B

5.25% (1 mo. USD Term SOFR + 1.600%) ^(1),(2)

10/15/42

1,102,788

1,107,202

Hilton USA Trust Series 2025-NVIL, Class A

5.40% (1 mo. USD Term SOFR + 1.743%) ^(1),(2)

07/15/42

800,000

802,521

Hudson Yards Mortgage Trust Series 2019-30HY, Class A

3.23% ⁽²⁾

07/10/39

2,185,000

2,079,282

Hudson Yards Mortgage Trust Series 2019-55HY, Class A

3.04% ^(2),(6)

12/10/41

1,180,000

1,107,137

JPMorgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class A

3.40% ⁽²⁾

06/05/39

1,160,000

1,097,538

LoanCore Issuer LLC Series 2025-CRE9, Class AS

5.36% (1 mo. USD Term SOFR + 1.700%) ^(1),(2)

08/18/42

475,000

475,390

One Bryant Park Trust Series 2019-OBP, Class A

2.52% ⁽²⁾

09/15/54

1,495,000

1,384,766

Sage AR Funding Series 2026-1A, Class C

5.49% (1 day GBP SONIA + 1.750%) ^(1),(2)

05/18/38

GBP 350,000

477,089

SCG Trust Series 2025-SNIP, Class B

5.30% (1 mo. USD Term SOFR + 1.650%) ^(1),(2)

09/15/42

1,430,000

1,434,030

SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A1

3.87% ^(2),(6)

01/05/43

1,000,000

874,229

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (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% ^(2),(6)		01/05/43	$	70,000	$	61,439

Starwood LLC Series 2025-FL4, Class AS

5.36% (1 mo. USD Term SOFR + 1.700%) ^(1),(2)		11/19/42		1,170,000		1,171,166

WBHT Commercial Mortgage Trust Series 2025-WBM, Class A

5.40% (1 mo. USD Term SOFR + 1.742%) ^(1),(2)		06/15/42		1,235,000		1,236,216


Total Commercial Mortgage-Backed Securities — Non-Agency

(Cost: $25,364,812)						24,813,148


RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 37.1%

Federal Home Loan Mortgage Corp., Pool #A97179

4.50%		03/01/41		686,762		682,008

Federal Home Loan Mortgage Corp., Pool #G06360

4.00%		03/01/41		799,717		777,822

Federal Home Loan Mortgage Corp., Pool #G06498

4.00%		04/01/41		543,507		528,264

Federal Home Loan Mortgage Corp., Pool #G06499

4.00%		03/01/41		357,472		347,235

Federal Home Loan Mortgage Corp., Pool #G07849

3.50%		05/01/44		482,006		454,318

Federal Home Loan Mortgage Corp., Pool #G08710

3.00%		06/01/46		917,844		826,547

Federal Home Loan Mortgage Corp., Pool #G08711

3.50%		06/01/46		1,467,703		1,362,472

Federal Home Loan Mortgage Corp., Pool #G08715

3.00%		08/01/46		1,787,906		1,610,063

Federal Home Loan Mortgage Corp., Pool #G08716

3.50%		08/01/46		999,815		928,131

Federal Home Loan Mortgage Corp., Pool #G08721

3.00%		09/01/46		1,432,523		1,290,030

Federal Home Loan Mortgage Corp., Pool #G08722

3.50%		09/01/46		397,718		369,202

Federal Home Loan Mortgage Corp., Pool #G08726

3.00%		10/01/46		1,386,729		1,248,792

Federal Home Loan Mortgage Corp., Pool #G08732

3.00%		11/01/46		1,393,081		1,254,512

Federal Home Loan Mortgage Corp., Pool #G08816

3.50%		06/01/48		200,491		185,344

Federal Home Loan Mortgage Corp., Pool #G08826

5.00%		06/01/48		184,798		185,935

Federal Home Loan Mortgage Corp., Pool #G08843

4.50%		10/01/48		708,738		694,895


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp., Pool #G60038

3.50%		01/01/44	$	698,203	$	658,564

Federal Home Loan Mortgage Corp., Pool #G60344

4.00%		12/01/45		352,141		338,714

Federal Home Loan Mortgage Corp., Pool #G67706

3.50%		12/01/47		410,212		380,899

Federal Home Loan Mortgage Corp., Pool #G67707

3.50%		01/01/48		4,512,750		4,199,229

Federal Home Loan Mortgage Corp., Pool #G67718

4.00%		01/01/49		1,032,818		986,353

Federal Home Loan Mortgage Corp., Pool #Q05261

3.50%		12/01/41		645,363		611,991

Federal Home Loan Mortgage Corp., Pool #Q20178

3.50%		07/01/43		1,389,889		1,313,246

Federal Home Loan Mortgage Corp., Pool #SD8238

4.50%		08/01/52		1,400,905		1,356,435

Federal Home Loan Mortgage Corp., Pool #SD8257

4.50%		10/01/52		1,018,555		986,033

Federal Home Loan Mortgage Corp., Pool #SD8266

4.50%		11/01/52		413,133		399,903

Federal Home Loan Mortgage Corp., Pool #SL1660

4.50%		10/01/53		848,074		820,996

Federal Home Loan Mortgage Corp., Pool #ZM1779

3.00%		09/01/46		867,852		780,588

Federal Home Loan Mortgage Corp., Pool #ZT1703

4.00%		01/01/49		703,195		670,768

Federal Home Loan Mortgage Corp. REMICS Series 2439, Class KZ

6.50%		04/15/32		30,153		31,293

Federal Home Loan Mortgage Corp. REMICS Series 2575, Class FD (PAC)

4.20% (30 day USD SOFR Average + 0.564%) ⁽¹⁾		02/15/33		90,871		90,856

Federal Home Loan Mortgage Corp. REMICS Series 2662, Class MT (TAC)

4.50%		08/15/33		28,553		28,504

Federal Home Loan Mortgage Corp. REMICS Series 3315, Class S (I/O) (I/F)

2.66% (-30 day USD SOFR Average + 6.296%) ⁽¹⁾		05/15/37		2,728		150

Federal Home Loan Mortgage Corp. REMICS Series 3339, Class JS (I/O) (I/F)

18.43% (-30 day USD SOFR Average + 42.091%) ⁽¹⁾		07/15/37		108,909		151,811

Federal Home Loan Mortgage Corp. REMICS Series 3351, Class ZC

5.50%		07/15/37		98,481		101,181

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp. REMICS Series 3380, Class SM (I/O) (I/F)

2.66% (-30 day USD SOFR Average + 6.296%) ⁽¹⁾		10/15/37	$	146,781	$	13,214

Federal Home Loan Mortgage Corp. REMICS Series 3382, Class FL

4.45% (30 day USD SOFR Average + 0.814%) ⁽¹⁾		11/15/37		34,276		34,401

Federal Home Loan Mortgage Corp. REMICS Series 3439, Class SC (I/O) (I/F)

2.15% (-30 day USD SOFR Average + 5.786%) ⁽¹⁾		04/15/38		629,575		37,933

Federal Home Loan Mortgage Corp. REMICS Series 3578, Class DI (I/O) (I/F)

2.90% (-30 day USD SOFR Average + 6.536%) ⁽¹⁾		04/15/36		200,580		17,936

Federal Home Loan Mortgage Corp. REMICS Series 4818, Class CA

3.00%		04/15/48		337,857		301,552

Federal Home Loan Mortgage Corp. STRIPS Series 390, Class C12 (I/O)

4.00%		11/15/52		2,246,959		504,280

Federal National Mortgage Association, Pool #596686

6.50%		11/01/31		2,953		3,078

Federal National Mortgage Association, Pool #727575

5.00%		06/01/33		8,936		9,016

Federal National Mortgage Association, Pool #748751

5.50%		10/01/33		26,064		26,658

Federal National Mortgage Association, Pool #AL0209

4.50%		05/01/41		195,305		193,716

Federal National Mortgage Association, Pool #AL0851

6.00%		10/01/40		178,625		187,333

Federal National Mortgage Association, Pool #AN0245

3.42%		11/01/35		1,468,617		1,405,807

Federal National Mortgage Association, Pool #AS9830

4.00%		06/01/47		404,895		385,404

Federal National Mortgage Association, Pool #BN7755

3.00%		09/01/49		2,042,212		1,823,993

Federal National Mortgage Association, Pool #BQ6913

2.00%		12/01/51		1,558,721		1,255,935

Federal National Mortgage Association, Pool #BV7937

4.00%		08/01/52		3,773,923		3,556,673

Federal National Mortgage Association, Pool #BX8625

5.00%		04/01/53		4,442,758		4,398,239

Federal National Mortgage Association, Pool #CA1710

4.50%		05/01/48		918,087		899,086


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association, Pool #CA1711

4.50%		05/01/48	$	660,468	$	646,799

Federal National Mortgage Association, Pool #CA2208

4.50%		08/01/48		530,435		519,457

Federal National Mortgage Association, Pool #CB0290

2.00%		04/01/51		6,078,351		4,917,766

Federal National Mortgage Association, Pool #CB0610

2.50%		05/01/51		5,552,953		4,733,387

Federal National Mortgage Association, Pool #CB2313

2.50%		12/01/51		6,112,268		5,198,800

Federal National Mortgage Association, Pool #CB3289

2.00%		04/01/52		8,026,503		6,476,644

Federal National Mortgage Association, Pool #FM2318

3.50%		09/01/49		205,574		189,944

Federal National Mortgage Association, Pool #FS4233

4.50%		12/01/52		5,408,656		5,235,960

Federal National Mortgage Association, Pool #FS4701

4.50%		04/01/53		2,848,714		2,755,525

Federal National Mortgage Association, Pool #FS6953

4.00%		02/01/53		2,261,522		2,131,510

Federal National Mortgage Association, Pool #MA1146

4.00%		08/01/42		415,414		401,936

Federal National Mortgage Association, Pool #MA1561

3.00%		09/01/33		694,639		669,301

Federal National Mortgage Association, Pool #MA1584

3.50%		09/01/33		1,013,434		988,831

Federal National Mortgage Association, Pool #MA3182

3.50%		11/01/47		236,652		218,790

Federal National Mortgage Association, Pool #MA4093

2.00%		08/01/40		3,200,374		2,817,008

Federal National Mortgage Association, Pool #MA4281

2.00%		03/01/51		6,164,817		4,985,461

Federal National Mortgage Association, Pool #MA4387

2.00%		07/01/41		460,479		400,680

Federal National Mortgage Association, Pool #MA4512

2.50%		01/01/52		1,512,258		1,276,664

Federal National Mortgage Association, Pool #MA4655

4.00%		07/01/52		3,392,714		3,195,546

Federal National Mortgage Association, Pool #MA5072

5.50%		07/01/53		1,457,617		1,472,825

Federal National Mortgage Association, Pool #MA5138

5.50%		09/01/53		2,631,624		2,657,194

Federal National Mortgage Association Interest STRIPS Series 426, Class C39 (I/O)

2.00%		09/25/51		2,582,873		331,478

Federal National Mortgage Association Interest STRIPS Series 426, Class C43 (I/O)

2.00%		07/25/50		2,233,335		297,354

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association Interest STRIPS Series 426, Class C44 (I/O)

2.00%		03/25/52	$	5,489,607	$	745,782

Federal National Mortgage Association Interest STRIPS Series 426, Class C45 (I/O)

2.00%		07/25/51		6,469,083		874,533

Federal National Mortgage Association Interest STRIPS Series 438, Class C24 (I/O)

4.00%		07/25/53		1,428,138		316,687

Federal National Mortgage Association REMICS Series 2001-14, Class SH (I/O) (I/F)

14.67% (-30 day USD SOFR Average + 27.424%) ⁽¹⁾		03/25/30		7,623		8,057

Federal National Mortgage Association REMICS Series 2001-34, Class FV

4.26% (30 day USD SOFR Average + 0.614%) ⁽¹⁾		08/25/31		19,995		20,023

Federal National Mortgage Association REMICS Series 2007-89, Class GF

4.28% (30 day USD SOFR Average + 0.634%) ⁽¹⁾		09/25/37		143,234		143,600

Federal National Mortgage Association REMICS Series 2008-30, Class SA (I/O) (I/F)

3.09% (-30 day USD SOFR Average + 6.736%) ⁽¹⁾		04/25/38		32,757		3,488

Federal National Mortgage Association REMICS Series 2008-62, Class SN (I/O) (I/F)

2.44% (-30 day USD SOFR Average + 6.086%) ⁽¹⁾		07/25/38		39,866		2,720

Federal National Mortgage Association REMICS Series 2009-64, Class TB

4.00%		08/25/29		158,299		157,453

Federal National Mortgage Association REMICS Series 2009-68, Class SA (I/O) (I/F)

2.99% (-30 day USD SOFR Average + 6.636%) ⁽¹⁾		09/25/39		25,716		2,663

Federal National Mortgage Association REMICS Series 2010-26, Class AS (I/O) (I/F)

2.57% (-30 day USD SOFR Average + 6.216%) ⁽¹⁾		03/25/40		354,152		31,659

Federal National Mortgage Association REMICS Series 2011-111, Class DB

4.00%		11/25/41		843,834		817,062

Federal National Mortgage Association REMICS Series 2018-38, Class LA

3.00%		06/25/48		653,578		586,321


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association REMICS Series 2018-43, Class CT

3.00%		06/25/48	$	481,995	$	432,484

Federal National Mortgage Association REMICS Series 2019-79, Class FA

4.26% (30 day USD SOFR Average + 0.614%) ⁽¹⁾		01/25/50		1,210,892		1,198,138

Federal National Mortgage Association REMICS Series 2023-39, Class AI (I/O)

2.00%		07/25/52		18,709,958		2,470,107

Federal National Mortgage Association REMICS Trust Series 2004-W10, Class A6 (PAC)

5.75%		08/25/34		390,948		397,588

Government National Mortgage Association, Pool #608259

4.50%		08/15/33		9,123		9,113

Government National Mortgage Association, Pool #782114

5.00%		09/15/36		37,082		37,584

Government National Mortgage Association, Pool #MA3521

3.50%		03/20/46		655,585		605,818

Government National Mortgage Association, Pool #MA3597

3.50%		04/20/46		635,631		587,379

Government National Mortgage Association, Pool #MA3662

3.00%		05/20/46		283,961		256,370

Government National Mortgage Association, Pool #MA3663

3.50%		05/20/46		619,139		572,139

Government National Mortgage Association, Pool #MA4127

3.50%		12/20/46		901,614		833,170

Government National Mortgage Association, Pool #MA4454

5.00%		05/20/47		213,989		217,775

Government National Mortgage Association, Pool #MA4589

5.00%		07/20/47		499,337		508,172

Government National Mortgage Association, Pool #MA4722

5.00%		09/20/47		156,556		159,056

Government National Mortgage Association, Pool #MA4777

3.00%		10/20/47		204,286		184,152

Government National Mortgage Association, Pool #MA4838

4.00%		11/20/47		461,301		440,146

Government National Mortgage Association, Pool #MA4901

4.00%		12/20/47		797,431		760,861

Government National Mortgage Association, Pool #MA5078

4.00%		03/20/48		565,169		539,250

Government National Mortgage Association, Pool #MA5399

4.50%		08/20/48		1,106,266		1,085,755

Government National Mortgage Association, Pool #MA5466

4.00%		09/20/48		38,742		36,887

Government National Mortgage Association, Pool #MA5467

4.50%		09/20/48		67,932		66,672

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Government National Mortgage Association, Pool #MA6030

3.50%		07/20/49	$	62,823	$	56,994

Government National Mortgage Association, Pool #MA6209

3.00%		10/20/49		447,925		393,083

Government National Mortgage Association, Pool #MA8347

4.50%		10/20/52		1,582,499		1,540,940

Government National Mortgage Association, Pool #MA9488

5.50%		02/20/54		1,645,254		1,669,456

Government National Mortgage Association REMICS Series 2008-27, Class SI (I/O) (I/F)

2.69% (-1 mo. USD Term SOFR + 6.356%) ⁽¹⁾		03/20/38		104,774		9,814

Government National Mortgage Association REMICS Series 2008-81, Class S (I/O) (I/F)

2.42% (-1 mo. USD Term SOFR + 6.086%) ⁽¹⁾		09/20/38		391,215		33,413

Government National Mortgage Association REMICS Series 2010-1, Class S (I/O) (I/F)

1.97% (-1 mo. USD Term SOFR + 5.636%) ⁽¹⁾		01/20/40		606,551		45,292

Government National Mortgage Association REMICS Series 2018-124, Class NW

3.50%		09/20/48		564,917		521,737

Government National Mortgage Association, TBA

2.50% ⁽⁷⁾		11/01/51		5,300,000		4,540,499

3.50% ⁽⁷⁾		08/01/55		2,700,000		2,439,075

4.00% ⁽⁷⁾		07/01/55		5,725,000		5,336,868

5.00% ⁽⁷⁾		02/01/56		1,900,000		1,884,077

5.50% ⁽⁷⁾		01/01/56		2,275,000		2,291,084

Uniform Mortgage-Backed Security, TBA

2.00% ⁽⁷⁾		10/01/51		850,000		680,598

2.50% ⁽⁷⁾		10/01/51		125,000		104,728

3.00% ⁽⁷⁾		12/01/51		775,000		678,712

3.50% ⁽⁷⁾		01/01/52		14,675,000		13,366,320

4.00% ⁽⁷⁾		06/01/55		15,725,000		14,752,794

4.50% ⁽⁷⁾		02/01/56		10,900,000		10,488,765

5.00% ⁽⁷⁾		02/01/56		4,850,000		4,779,622

5.50% ⁽⁷⁾		01/01/56		2,275,000		2,287,001


Total Residential Mortgage-Backed Securities — Agency

(Cost: $183,049,433)						177,235,734


RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 8.2%

Ajax Mortgage Loan Trust Series 2019-F, Class A1

2.86% ⁽²⁾		07/25/59		952,846		933,602

Angel Oak Mortgage Trust Series 2025-8, Class A1

5.41% ⁽²⁾		07/25/70		1,309,655		1,317,536


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Bayview MSR Opportunity Master Fund Trust Series 2021-5, Class A5

2.50% ^(2),(6)		11/25/51	$	2,968,167	$	2,677,739

Citigroup Mortgage Loan Trust, Inc. Series 2005-5, Class 2A2

5.75%		08/25/35		107,144		94,438

Citigroup Mortgage Loan Trust, Inc. Series 2006-AMC1, Class A1

4.06% (1 mo. USD Term SOFR + 0.404%) ^(1),(2)		09/25/36		2,236,977		2,191,960

Cross Mortgage Trust Series 2025-H2, Class A1

5.36% ^(2),(6)		03/25/70		1,096,308		1,099,012

Cross Mortgage Trust Series 2026-NQM2, Class A1

4.83% ^(2),(6)		03/25/61		1,187,496		1,180,048

CSMC Trust Series 2018-RPL9, Class A

3.85% ^(2),(6)		09/25/57		1,609,757		1,548,212

CSMC Trust Series 2022-ATH2, Class A1

4.55% ^(2),(6)		05/25/67		2,446,136		2,441,451

Fremont Home Loan Trust Series 2005-E, Class 2A4

4.43% (1 mo. USD Term SOFR + 0.774%) ⁽¹⁾		01/25/36		2,275,035		2,219,309

GS Mortgage-Backed Securities Trust Series 2018-RPL1, Class A1A

3.75% ⁽²⁾		10/25/57		1,053,258		1,035,014

GS Mortgage-Backed Securities Trust Series 2021-INV1, Class A6

2.50% ^(2),(6)		12/25/51		2,887,454		2,588,903

GS Mortgage-Backed Securities Trust Series 2025-PJ6, Class A5

5.50% ^(2),(6)		11/25/55		869,257		869,710

GSAA Home Equity Trust Series 2005-11, Class 2A2

4.41% (1 mo. USD Term SOFR + 0.754%) ⁽¹⁾		10/25/35		181,296		205,774

IndyMac INDX Mortgage Loan Trust Series 2005-AR6, Class 2A1

4.25% (1 mo. USD Term SOFR + 0.594%) ⁽¹⁾		04/25/35		384,751		319,363

JPMorgan Mortgage Trust Series 2021-INV3, Class A3

2.50% ^(2),(6)		12/25/51		3,672,966		3,301,342

JPMorgan Mortgage Trust Series 2021-INV5, Class A3

3.00% ^(2),(6)		12/25/51		4,216,996		3,891,190

Morgan Stanley ABS Capital I, Inc. Trust Series 2004-WMC2, Class M1

4.68% (1 mo. USD Term SOFR + 1.029%) ⁽¹⁾		07/25/34		306,618		312,927

Morgan Stanley Mortgage Loan Trust Series 2004-3, Class 4A

5.65%⁽⁶⁾		04/25/34		46,381		45,936

New Residential Mortgage Loan Trust Series 2026-NQM2, Class A1

4.74% ^(2),(6)		12/25/65		834,572		827,569

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

New Residential Mortgage Loan Trust Series 2026-NQM2, Class A2

5.05% ⁽²⁾		12/25/65	$	370,921	$	367,600

Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-WCW2, Class M3

4.59% (1 mo. USD Term SOFR + 0.939%) ⁽¹⁾		07/25/35		3,093,441		3,013,057

Starwood Mortgage Residential Trust Series 2021-3, Class A1

1.13% ^(2),(6)		06/25/56		1,546,440		1,347,239

Structured Asset Investment Loan Trust Series 2004-6, Class A3

4.57% (1 mo. USD Term SOFR + 0.914%) ⁽¹⁾		07/25/34		1,063,326		1,097,108

WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR15, Class A1A1

4.29% (1 mo. USD Term SOFR + 0.634%) ⁽¹⁾		11/25/45		3,008,360		2,851,733

WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR3, Class A2

4.61% ⁽⁶⁾		03/25/35		322,551		314,971

Wells Fargo Alternative Loan Trust Series 2007-PA3, Class 2A1

6.00%		07/25/37		31,892		29,229

Wells Fargo Home Equity Asset-Backed Securities Trust Series 2004-2, Class A33

4.77% (1 mo. USD Term SOFR + 1.114%) ⁽¹⁾		10/25/34		1,308,918		1,360,267


Total Residential Mortgage-Backed Securities — Non-Agency

(Cost: $36,330,311)						39,482,239


U.S. TREASURY SECURITIES — 29.7%

U.S. Treasury Bonds

4.63%		02/15/46		17,800,000		17,000,390

4.75%		02/15/56		9,182,000		8,841,262

U.S. Treasury Notes

3.75%		04/30/28		17,720,000		17,674,662

3.88%		03/31/28		10,273,000		10,271,395

3.88%		03/31/31		4,268,000		4,240,325

3.88%		04/30/31		51,092,000		50,754,713

4.13%		04/30/33		16,450,000		16,367,750

4.13%		02/15/36		17,335,000		16,971,371


Total U.S. Treasury Securities

(Cost: $143,359,784)						142,121,868


FOREIGN GOVERNMENT BONDS — 1.5%

Foreign Government Bonds — 0.9%

Abu Dhabi Government International Bonds

5.50% ⁽²⁾		04/30/54		623,000		607,462

Issues

Maturity
Date

Principal
Amount

Value

FOREIGN GOVERNMENT BONDS (Continued)

Foreign Government Bonds (Continued)

Qatar Government International Bonds

5.10% ⁽²⁾

04/23/48

204,000

194,139

U.K. Gilts

4.38% ⁽³⁾

03/07/28

GBP

2,425,000

3,290,699

4,092,300

Regional (State & Province) — 0.6%

New South Wales Treasury Corp.

4.75% ⁽³⁾

02/20/37

AUD

1,180,000

785,268

5.25% ⁽³⁾

02/24/38

AUD

625,000

429,604

Queensland Treasury Corp.

5.00% ⁽³⁾

07/21/37

AUD

1,180,000

796,348

5.25% ⁽³⁾

08/13/38

AUD

930,000

634,230

Treasury Corp. of Victoria

2.00%

11/20/37

AUD

590,000

287,917

2,933,367

Total Foreign Government Bonds

(Cost: $6,902,241)

7,025,667

Total Fixed Income Securities

(Cost: $505,785,231)

501,523,309

CONVERTIBLE SECURITIES — 0.0%

CONVERTIBLE CORPORATE BONDS — 0.0%

Cellnex Telecom SA

0.75% ⁽³⁾

11/20/31

EUR

200,000

210,762

Total Convertible Corporate Bonds

(Cost: $210,821)

210,762

Total Convertible Securities

(Cost: $210,821)

210,762

PURCHASED OPTIONS ⁽⁸⁾ — 0.0%
(Cost: $32,175)

56,319

Issues

Value

MONEY MARKET INVESTMENTS — 8.8%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽⁹⁾

2,416,441

TCW Central Cash Fund, 3.69% ^(9),(10)

39,524,012

Total Money Market Investments

(Cost: $41,940,453)

41,940,453

Total Investments (113.7%)

(Cost: $547,968,680)

543,730,843

Liabilities In Excess Of Other Assets (-13.7%)

(65,557,163

)

Net Assets (100.0%)

478,173,680

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026


Futures Contracts

Number of Contracts	Type	Expiration Date		Notional Contract Value			Market Value			Net Unrealized Appreciation (Depreciation)
Long Futures
387	2-Year U.S. Treasury Note Futures		06/30/26	$	80,844,712		$	80,157,375		$	(687,337	)
31	5-Year U.S. Treasury Note Futures		06/30/26		3,396,113			3,342,914			(53,199	)
20	U.S. Long Bond Futures		06/18/26		2,351,288			2,256,875			(94,413	)
161	U.S. Ultra Long Bond Futures		06/18/26		19,280,067			18,520,031			(760,036	)

				$	105,872,180		$	104,277,195		$	(1,594,985	)

Short Futures
48	10-Year Australian Bond Futures		06/15/26	$	(3,722,843	)	$	(3,694,702	)	$	28,141
5	10-Year U.S. Treasury Note Futures		06/18/26		(578,194	)		(564,297	)		13,897
31	3-Year Australian Bond Futures		06/15/26		(2,315,187	)		(2,303,907	)		11,280
8	30-Year Euro-Buxl Futures		06/08/26		(1,053,269	)		(1,022,711	)		30,558
17	Euro Schatz Futures		06/08/26		(2,130,562	)		(2,108,850	)		21,712
38	Euro-Bobl Futures		06/08/26		(5,207,264	)		(5,146,285	)		60,979
21	Euro-Bund Futures		06/08/26		(3,162,582	)		(3,088,121	)		74,461
10	Long Gilt Futures		06/26/26		(1,246,877	)		(1,176,629	)		70,248

				$	(19,416,778	)	$	(19,105,502	)	$	311,276


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⁾
JP Morgan Chase Bank		EUR		239,412		06/26/26	$	281,314	$	281,510	$	196
Bank of New York		EUR		209,545		06/26/26		247,277		246,391		(886	)

							$	528,591	$	527,901	$	(690	)

SELL⁽¹²⁾
Citibank N.A.		GBP		4,163,344		06/26/26	$	5,541,660	$	5,656,773	$	(115,113	)
Goldman Sachs & Co.		EUR		8,644,978		06/26/26		10,000,126		10,165,094		(164,968	)
JP Morgan Chase Bank		AUD		5,956,342		06/26/26		4,093,468		4,278,113		(184,645	)
JP Morgan Chase Bank		EUR		97,161		06/26/26		113,808		114,245		(437	)
Bank of New York		EUR		294,985		06/26/26		341,928		346,854		(4,926	)

							$	20,090,990	$	20,561,079	$	(470,089	)

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Schedule of Investments (Unaudited) (Continued)


Swaptions

Description	Counterparty	Coupon Rate (%)		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation (Depreciation)
Purchased Swaptions — OTC
5-Year Interest Rate Swap	Barclays Capital		4.06		10/19/26		10,725,000		$	10,725,000		$	56,319		$	32,175		$	24,144

Total Purchased Swaptions												$	56,319		$	32,175		$	24,144


Description	Counterparty	Coupon Rate (%)		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation (Depreciation)
Written Swaptions — OTC
2-Year Interest Rate Swap	JP Morgan Chase Bank		3.60		07/15/26		(18,395,000	)	$	(18,395,000	)	$	(6,794	)	$	(14,977	)	$	8,183
2-Year Interest Rate Swap	JP Morgan Chase Bank		4.60		07/15/26		(18,395,000	)		(18,395,000	)		(65,545	)		(32,449	)		(33,096	)

Total Written Swaptions												$	(72,339	)	$	(47,426	)	$	(24,913	)


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 16,375,000		03/20/28		Annual	12-Month SONIA		Annual		3.933	%	$	(83,761	)	$	(70,179	)	$	(153,940	)

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

April 30, 2026

Notes to the Schedule of Investments:

ABS

Asset-Backed Securities.

CLO

Collateralized Loan Obligation.

I/F

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

I/O

Interest Only Security.

PAC

Planned Amortization Class.

REIT

Real Estate Investment Trust.

REMICS

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.

AUD

Australian Dollar.

EUR

Euro Currency.

GBP

British Pound Sterling.

(1)

Floating or variable rate security. The interest shown reflects the rate in effect at April 30, 2026.

(2)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At April 30, 2026, the value of these securities amounted to $93,002,061 or 19.5% 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 Company’s Board of Directors.

(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 April 30, 2026, the value of these securities amounted to $15,596,257 or 3.3% of net assets.

(4)

Perpetual maturity.

(5)

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

(6)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(7)

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)

See options table for description of purchased options.

(9)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(10)

Affiliated issuer.

(11)

Fund buys foreign currency, sells USD.

(12)

Fund sells foreign currency, buys USD.

The summary of the TCW Core Fixed Income Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	45,324,011	$	444,900,001	$	450,700,000		39,524,012	$	39,524,012	$	1,063,539	$	—	$	—	$	—

Total									$	39,524,012	$	1,063,539	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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	$	—		$	177,235,734		$	—	$	177,235,734
U.S. Treasury Securities		—			142,121,868			—		142,121,868
Corporate Bonds		—			70,603,570			—		70,603,570
Asset-Backed Securities		—			36,948,409			3,292,674		40,241,083
Residential Mortgage-Backed Securities — Non-Agency		—			39,482,239			—		39,482,239
Commercial Mortgage-Backed Securities — Non-Agency		—			24,813,148			—		24,813,148
Foreign Government Bonds		—			7,025,667			—		7,025,667

Total Fixed Income Securities		—			498,230,635			3,292,674		501,523,309

Convertible Securities
Convertible Corporate Bonds		—			210,762			—		210,762
Equity Securities
Money Market Investments		41,940,453			—			—		41,940,453
Swaptions
Purchased Swaptions — OTC		—			56,319			—		56,319

Total Investments	$	41,940,453		$	498,497,716		$	3,292,674	$	543,730,843

Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			196			—		196
Futures Contracts
Interest Rate Risk		311,276			—			—		311,276

Total	$	42,251,729		$	498,497,912		$	3,292,674	$	544,042,315

Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(1,594,985	)	$	—		$	—	$	(1,594,985	)
Forward Currency Contracts
Foreign Currency Risk		—			(470,975	)		—		(470,975	)
Written Swaptions
Interest Rate Risk		—			(72,339	)		—		(72,339	)
Swap Agreements
Interest Rate Risk		—			(153,940	)		—		(153,940	)

Total	$	(1,594,985	)	$	(697,254	)	$	—	$	(2,292,239	)

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited)

April 30, 2026

Issues

Maturity

Date

Principal

Amount

Value

FIXED INCOME SECURITIES — 98.3% of Net Assets

ASSET-BACKED SECURITIES — 8.0%

Adagio IV CLO Ltd. Series IV-A, Class BRRR

4.25% (3 mo. EUR EURIBOR + 2.050%) ^(1),(2)

07/15/38

EUR

100,000

117,470

AGL CLO 14 Ltd. Series 2021-14A

4.80% (3 mo. USD Term SOFR + 1.130%)^(1),(2)

12/02/34

50,000

50,025

Aligned Data Centers Issuer LLC Series 2022-1A, Class A2

6.35% ⁽²⁾

10/15/47

40,000

40,036

Aqueduct European CLO 8 DAC Series 2024-8A, Class BR

4.20% (3 mo. EUR EURIBOR + 2.000%)^(1),(2)

01/15/39

EUR

100,000

117,886

Arbour CLO III DAC Series 3X, Class B1RR

3.85% (3 mo. EUR EURIBOR + 1.650%)^(1),(3)

07/15/34

EUR

100,000

117,346

ARES European CLO XVII DAC Series 17A, Class BR

4.10% (3 mo. EUR EURIBOR + 1.900%)^(1),(2)

01/15/40

EUR

100,000

117,559

Aurium CLO IX DAC Series 9X, Class A

3.11% (3 mo. EUR EURIBOR + 0.950%)^(1),(3)

10/28/34

EUR

100,000

117,318

Bain Capital Credit CLO Ltd. Series 2020-2A, Class AR3 (I/F)

4.66% (-3 mo. USD Term SOFR + 0.980%)^(1),(2)

07/19/34

55,000

54,895

Ballyrock CLO 20 Ltd. Series 2022-20A, Class A1A3 (I/F)

4.72% (-3 mo. USD Term SOFR + 1.050%)^(1),(2)

10/15/36

55,000

54,920

Bayview Opportunity Master Fund VII LLC Series 2024-EDU1, Class D

6.40% (30 day USD SOFR Average + 2.750%)^(1),(2)

06/25/47

74,197

75,202

CARS-DB4 LP Series 2020-1A, Class B3

4.95% ⁽²⁾

02/15/50

100,000

94,031

Castlelake Aircraft Structured Trust Series 2019-1A, Class A

3.97% ⁽²⁾

04/15/39

37,401

36,807

Clover CLO LLC Series 2021-3A, Class AR

4.74% (3 mo. USD Term SOFR + 1.070%)^(1),(2)

01/25/35

50,000

49,981

Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC Series 2025-1A, Class A2

6.00% ⁽²⁾

05/20/55

20,000

20,342

Issues

Maturity

Date

Principal

Amount

Value

ASSET-BACKED SECURITIES (Continued)

Contego CLO VI DAC Series 6X, Class AR

2.99% (3 mo. EUR EURIBOR + 0.790%)^(1),(3)

04/15/34

EUR

98,029

114,866

Diamond Issuer LLC Series 2021-1A, Class C

3.79% ⁽²⁾

11/20/51

40,000

38,682

Dryden 98 CLO Ltd. Series 2022-98A

4.70% (3 mo. USD Term SOFR + 1.020%)^(1),(2)

04/20/35

60,000

eStruxture Issuer LP Series 2025-1, Class A2

5.89% ⁽²⁾

07/20/55

CAD

55,000

40,295

Hertz Vehicle Financing LLC Series 2022-5A, Class B

4.28% ⁽²⁾

09/25/28

30,000

29,587

Lightpath Fiber Issuer LLC Series 2026-1A

5.60% ⁽²⁾

03/25/56

35,000

35,169

Octagon Investment Partners 41 Ltd. Series 2019-2A, Class A1R2

4.76% (3 mo. USD Term SOFR + 1.090%)^(1),(2)

10/15/33

50,000

50,024

Rad CLO 21 Ltd. Series 2023-21A, Class A1R

4.74% (3 mo. USD Term SOFR + 1.070%)^(1),(2)

01/25/37

55,000

54,876

SLM Student Loan Trust Series 2008-5, Class B

5.78% (90 day USD SOFR Average + 2.112%)⁽¹⁾

07/25/73

50,000

53,439

Symphony CLO XX Ltd. Series 2018-20A

4.78% (3 mo. USD Term SOFR + 1.100%)^(1),(2)

01/16/32

37,809

37,935

Valley Stream Park CLO Ltd. Series 2022-1A

4.87% (3 mo. USD Term SOFR + 1.190%)^(1),(2)

01/20/37

55,000

55,032

Total Asset-Backed Securities

(Cost: $1,580,542)

1,633,723

COMMERCIAL MORTGAGE-BACKED SECURITIES —
AGENCY — 0.2%

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series Q013, Class XPT2 (I/O)

1.81% ⁽⁴⁾

05/25/27

1,117,400

17,569

Federal National Mortgage Association-ACES Series 2016-M2, Class X3 (I/O)

2.04% ⁽⁴⁾

04/25/36

101,915

Federal National Mortgage Association-ACES Series 2016-M4, Class X2 (I/O)

2.71% ⁽⁴⁾

01/25/39

328,703

11,236

Government National Mortgage Association Series 2012-144, Class IO (I/O)

0.35% ⁽⁴⁾

01/16/53

1,048,053

11,990

Total Commercial Mortgage-Backed Securities — Agency

(Cost: $17,906)

40,801

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (Continued)

Issues

Maturity

Date

Principal

Amount

Value

COMMERCIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY — 4.8%

1301 Trust Series 2025-1301, Class C

5.83% ^(2),(4)

08/11/42

50,000

50,206

BPR Mortgage Trust Series 2023-STON, Class C

8.13% ^(2),(4)

12/05/39

100,000

103,040

BX Mortgage Trust Series 2021-PAC, Class B

4.67% (1 mo. USD Term SOFR + 1.013%)^(1),(2)

10/15/36

100,000

99,800

BX Mortgage Trust Series 2021-PAC, Class E

5.72% (1 mo. USD Term SOFR + 2.062%)^(1),(2)

10/15/36

100,000

99,718

BX Trust Series 2022-CLS, Class C

6.79% ⁽²⁾

10/13/27

90,000

88,306

Caister Finance DAC Series 1A, Class E

9.50% (1 day GBP SONIA + 5.750%)^(1),(2)

08/17/35

GBP

100,000

135,402

COMM Mortgage Trust Series 2012-CR4, Class XA (I/O)

1.29% ⁽⁴⁾

10/15/45

167,201

3,852

CRSO Trust Series 2023

7.12% ⁽⁴⁾

07/10/40

100,000

102,958

JPMorgan Chase Commercial Mortgage Securities Trust Series 2011-C3, Class XB (I/O)

0.49% ^(2),(4)

02/15/46

5,700,705

26,706

Last Mile Securities PE DAC Series 2021-1A, Class F

7.00% (3 mo. EUR EURIBOR + 5.000%)^(1),(2)

08/17/31

EUR

99,979

117,384

UBS Commercial Mortgage Trust Series 2017-C3, Class A4

3.43%

08/15/50

60,000

59,053

Wells Fargo Commercial Mortgage Trust Series 2024-SVEN, Class A

6.01% ⁽²⁾

06/10/37

100,000

102,004

Total Commercial Mortgage-Backed Securities — Non-Agency

(Cost: $930,927)

988,429

CORPORATE BONDS — 10.5%

Aerospace & Defense — 0.4%

General Electric Co.

4.39% (3 mo. USD Term SOFR + 0.742%)⁽¹⁾

08/15/36

50,000

47,197

TransDigm, Inc.

6.00% ⁽²⁾

01/15/33

41,000

41,434

88,631

Airlines — 0.3%

Delta Air Lines Pass-Through Trust Series 2020-1, Class AA

2.00%

12/10/29

60,402

58,449


Issues	Maturity Date		Principal Amount		Value

Auto Manufacturers — 0.1%

Volkswagen Group of America Finance LLC (Germany)

5.80% ⁽²⁾		03/27/35	$	20,000	$	20,192


Banks — 1.4%

JPMorgan Chase & Co.

2.07% (1 day USD SOFR + 1.015%)⁽¹⁾		06/01/29		20,000		19,055

2.55% (1 day USD SOFR + 1.180%)⁽¹⁾		11/08/32		10,000		8,907

Kreditanstalt fuer Wiederaufbau (Germany)

0.63%		01/07/28	EUR	181,000		205,354

Morgan Stanley

2.24% (1 day USD SOFR + 1.178%)⁽¹⁾		07/21/32		5,000		4,401

Morgan Stanley Private Bank NA

4.20% (1 day USD SOFR + 0.780%)⁽¹⁾		11/17/28		10,000		9,967

PNC Financial Services Group, Inc.

5.58% (1 day USD SOFR + 1.841%)⁽¹⁾		06/12/29		30,000		30,730

Wells Fargo & Co.

2.57% (3 mo. USD LIBOR + 1.000%)⁽¹⁾		02/11/31		5,000		4,640


						283,054


Chemicals — 0.6%

International Flavors & Fragrances, Inc.

1.80%		09/25/26	EUR	100,000		116,815


Commercial Services — 0.1%

Valvoline, Inc.

3.63% ⁽²⁾		06/15/31		10,000		9,112

VT Topco, Inc.

8.50% ⁽²⁾		08/15/30		8,000		8,194


						17,306


Computers — 0.1%

Dell International LLC/EMC Corp.

5.00%		04/01/30		10,000		10,138


Cosmetics/Personal Care — 0.0%

Opal Bidco SAS (France)

6.50% ⁽²⁾		03/31/32		5,000		5,106


Diversified Financial Services — 0.4%

AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)

2.45%		10/29/26		20,000		19,835

3.88%		01/23/28		10,000		9,896

Avolon Holdings Funding Ltd. (Ireland)

2.53% ⁽²⁾		11/18/27		11,000		10,664

GGAM Finance Ltd. (Ireland)

8.00% ⁽²⁾		02/15/27		15,000		15,144

Sumisho Air Lease Corp.

5.85%		12/15/27		20,000		20,386


						75,925

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Electric — 0.9%

Alliant Energy Corp.

5.75% (5 yr. CMT + 2.077%)⁽¹⁾		04/01/56	$	15,000	$	14,740

American Electric Power Co., Inc.

5.80% (5 yr. CMT + 2.128%)⁽¹⁾		03/15/56		30,000		29,915

Ausgrid Finance Pty. Ltd. (Australia)

5.95% ⁽³⁾		12/10/35	AUD	20,000		14,013

Electricite de France SA

2.00% ⁽³⁾		12/09/49	EUR	100,000		69,838

Entergy Corp.

5.88% (5 yr. CMT + 2.179%)⁽¹⁾		06/15/56		25,000		25,010

WEC Energy Group, Inc.

5.63% (5 yr. CMT + 1.905%)⁽¹⁾		05/15/56		30,000		29,805


						183,321


Engineering & Construction — 0.0%

Sydney Airport Finance Co. Pty. Ltd.

5.90% ⁽³⁾		04/19/34	AUD	10,000		7,074


Entertainment — 0.1%

Discovery Global Holdings, Inc.

5.14%		03/15/52		12,000		7,932

Voyager Parent LLC

9.25% ⁽²⁾		07/01/32		8,000		8,527


						16,459


Food — 0.3%

JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL

6.50%		12/01/52		10,000		10,041

Pilgrim’s Pride Corp.

4.25%		04/15/31		37,000		35,577

Post Holdings, Inc.

4.63% ⁽²⁾		04/15/30		12,000		11,634


						57,252


Gas — 0.1%

NiSource, Inc.

5.75% (5 yr. CMT + 2.035%)⁽¹⁾		07/15/56		30,000		30,034


Health Care-Products — 0.1%

Medline Borrower LP

3.88%⁽²⁾		04/01/29		30,000		29,167


Health Care-Services — 0.5%

Cigna Group

5.25%		01/15/36		20,000		20,027

Elevance Health, Inc.

2.55%		03/15/31		40,000		36,313

5.00%		01/15/36		10,000		9,822


Issues	Maturity Date		Principal Amount		Value

Health Care-Services (Continued)

Humana, Inc.

5.55%		05/01/35	$	10,000	$	9,937

Kedrion SpA (Italy)

6.50%⁽²⁾		09/01/29		11,000		10,795

ModivCare, Inc.

0.00%^{(2),(5),(6),(7)}		10/01/29		22,050		331

Star Parent, Inc.

9.00%⁽²⁾		10/01/30		5,000		5,238

Tenet Healthcare Corp.

4.38%		01/15/30		5,000		4,847


						97,310


Household Products/Wares — 0.1%

Spectrum Brands, Inc.

3.88%⁽²⁾		03/15/31		23,000		20,169


Housewares — 0.0%

Central Garden & Pet Co.

4.13%		10/15/30		6,000		5,684


Insurance — 0.1%

Farmers Exchange Capital II

6.15% (3 mo. USD Term SOFR + 4.006%)^(1),(2)		11/01/53		30,000		29,213


Internet — 0.6%

Alphabet, Inc.

5.65%		02/15/56		15,000		14,715

Amazon.com, Inc.

4.88%		03/13/36		15,000		14,786

5.80%		03/13/56		35,000		34,463

Getty Images, Inc.

10.50%⁽²⁾		11/15/30		5,000		4,437

Meta Platforms, Inc.

4.88%		11/15/35		20,000		19,515

5.50%		11/15/45		10,000		9,304

Snap, Inc.

6.88%⁽²⁾		03/01/33		20,000		19,495


						116,715


Investment Companies — 0.1%

Icahn Enterprises LP/Icahn Enterprises Finance Corp.

9.00%		06/15/30		9,000		8,688

9.75%		01/15/29		5,000		5,028


						13,716


Lodging — 0.0%

MGM Resorts International

6.50%		04/15/32		5,000		5,072


Media — 0.5%

CCO Holdings LLC/CCO Holdings Capital Corp.

7.38%⁽²⁾		02/01/36		10,000		9,812

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Media (Continued)

Charter Communications Operating LLC/Charter Communications Operating Capital

5.38%		05/01/47	$	36,000	$	28,920

CSC Holdings LLC

6.50%⁽²⁾		02/01/29		45,000		27,995

11.75%⁽²⁾		01/31/29		5,000		3,581

DISH Network Corp.

11.75%⁽²⁾		11/15/27		3,000		3,097

EchoStar Corp.

10.75%		11/30/29		2,000		2,171

Virgin Media O2 Vendor Financing Notes VI DAC (Ireland)

8.50%⁽²⁾		03/15/33		5,000		4,503

VZ Secured Financing BV (Netherlands)

5.00%⁽²⁾		01/15/32		23,000		20,241


						100,320


Miscellaneous Manufacturers — 0.1%

Dyno Nobel Ltd. (Australia)

5.40%		11/08/32	AUD	40,000		27,569


Office/Business Equipment — 0.0%

Xerox Corp.

10.25%⁽²⁾		10/15/30		10,000		8,362


Oil & Gas — 0.1%

Sunoco LP

5.63%⁽²⁾		07/15/34		5,000		4,935

7.88% (5 yr. CMT + 4.230%)^(1),(2),(8)		09/18/30		10,000		10,368


						15,303


Packaging & Containers — 0.1%

Amcor Flexibles North America, Inc.

5.50%		03/17/35		15,000		15,228

Ardagh Group SA (5.50% Cash or 6.50% PIK) due 5/30/26

12.00%⁽²⁾		12/01/30		5,000		4,501


						19,729


Pharmaceuticals — 0.6%

1261229 BC Ltd.

10.00%⁽²⁾		04/15/32		10,000		10,337

Bayer U.S. Finance II LLC (Germany)

4.63%⁽²⁾		06/25/38		36,000		32,459

CVS Health Corp.

6.75% (5 yr. CMT + 2.516%)⁽¹⁾		12/10/54		20,000		20,738

Teva Pharmaceutical Finance Netherlands III BV (Israel)

6.00%		12/01/32		25,000		26,051

Teva Pharmaceutical Finance Netherlands IV BV (Israel)

5.75%		12/01/30		25,000		25,672


						115,257


Issues	Maturity Date		Principal Amount		Value

Pipelines — 0.1%

Venture Global LNG, Inc.

8.13%⁽²⁾		06/01/28	$	2,000	$	2,047

9.00% (5 yr. CMT + 5.440%)^(1),(2),(8)		09/30/29		7,000		6,924

Venture Global Plaquemines LNG LLC

6.13%⁽²⁾		12/15/30		5,000		5,160

6.50%⁽²⁾		01/15/34		5,000		5,241


						19,372


Real Estate — 0.4%

Vonovia SE (Germany)

1.50%⁽³⁾		06/14/41	EUR	100,000		77,629


REIT — 0.9%

American Assets Trust LP

3.38%		02/01/31		40,000		36,417

American Tower Corp.

2.70%		04/15/31		20,000		18,191

5.90%		11/15/33		50,000		52,435

GLP Capital LP/GLP Financing II, Inc.

5.75%		06/01/28		5,000		5,068

Hudson Pacific Properties LP

3.95%		11/01/27		11,000		10,642

LXP Industrial Trust

2.70%		09/15/30		20,000		18,266

VICI Properties LP

5.13%		05/15/32		2,000		1,983

VICI Properties LP/VICI Notes Co., Inc.

5.75%⁽²⁾		02/01/27		30,000		30,159


						173,161


Retail — 0.2%

BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc.

9.50%⁽²⁾		07/01/32		5,000		4,322

Ferrellgas LP/Ferrellgas Finance Corp.

5.88%⁽²⁾		04/01/29		5,000		4,873

9.25%⁽²⁾		01/15/31		10,000		10,494

FirstCash, Inc.

6.13%⁽²⁾		05/01/34		10,000		9,987

Michaels Cos., Inc.

8.50%⁽²⁾		03/15/33		10,000		9,884

Suburban Propane Partners LP/Suburban Energy Finance Corp.

6.50%⁽²⁾		12/15/35		5,000		4,955


						44,515


Semiconductors — 0.1%

Intel Corp.

3.25%		11/15/49		30,000		19,386


Software — 0.5%

Cloud Software Group, Inc.

8.25%⁽²⁾		06/30/32		8,000		7,602

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Software (Continued)

Fiserv, Inc.

4.55%		02/15/31	$	25,000	$	24,507

Open Text Corp. (Canada)

6.90%⁽²⁾		12/01/27		5,000		5,116

Open Text Holdings, Inc. (Canada)

4.13%⁽²⁾		12/01/31		5,000		4,274

Oracle Corp.

4.45%		09/26/30		30,000		28,954

6.55%		02/04/46		15,000		13,931

Salesforce, Inc.

5.55%		03/15/36		20,000		19,951

UKG, Inc.

6.88%⁽²⁾		02/01/31		5,000		4,869


						109,204


Telecommunications — 0.1%

Altice Financing SA (Luxembourg)

9.63%⁽²⁾		07/15/27		9,000		6,986

Vmed O2 U.K. Financing I PLC (United Kingdom)

4.75%⁽²⁾		07/15/31		11,000		9,528


						16,514


Transportation — 0.1%

Aurizon Network Pty. Ltd. (Australia)

2.90%⁽³⁾		09/02/30	AUD	20,000		12,668

Pacific National Finance Pty. Ltd. (Australia)

3.70%		09/24/29	AUD	20,000		13,128


						25,796


Water — 0.4%

Yorkshire Water Finance PLC (United Kingdom)

2.75%⁽³⁾		04/18/41	GBP	100,000		83,610


Total Corporate Bonds

(Cost: $2,160,840)						2,142,529


FOREIGN GOVERNMENT BONDS — 45.5%

Abu Dhabi Government International Bonds

5.50%⁽²⁾		04/30/54		50,000		48,753

Australia Government Bonds

1.50%		06/21/31	AUD	196,000		120,438

2.25%⁽³⁾		05/21/28	AUD	55,000		37,678

4.25%⁽³⁾		12/21/35	AUD	254,000		172,212

Bonos de la Tesoreria de la Republica en pesos

5.00%⁽³⁾		10/01/28	CLP	30,000,000		33,271

Brazil Notas do Tesouro Nacional Series F

10.00%		01/01/31	BRL	2,010,000		354,687

Bundesobligation

2.50%⁽³⁾		04/16/31	EUR	38,000		44,067

Bundesrepublik Deutschland Bundesanleihe

2.60%^(3),(9)		08/15/35	EUR	333,000		377,883

2.90%⁽³⁾		08/15/56	EUR	205,000		211,974


Issues	Maturity Date		Principal Amount		Value

FOREIGN GOVERNMENT BONDS (Continued)

China Development Bank

2.77%		10/24/32	CNY	410,000	$	63,794

3.09%		06/18/30	CNY	1,530,000		237,142

3.48%		01/08/29	CNY	200,000		30,781

China Government Bonds

1.36%		12/15/27	CNY	640,000		93,840

1.63%		10/25/30	CNY	4,010,000		590,904

1.83%		08/25/35	CNY	3,370,000		495,840

1.92%		01/15/55	CNY	1,430,000		193,012

Czech Republic Government Bonds

3.60%		06/03/36	CZK	3,280,000		142,473

4.50%		11/11/32	CZK	670,000		32,024

European Union

0.00%^(3),(6)		07/04/29	EUR	150,000		161,327

1.63%⁽³⁾		12/04/29	EUR	87,000		97,827

2.75%⁽³⁾		02/04/33	EUR	102,000		116,951

Finland Government Bonds

2.50%⁽³⁾		04/15/30	EUR	156,000		180,606

French Republic Government Bonds OAT

0.75%⁽³⁾		05/25/28	EUR	218,000		245,360

2.70%⁽³⁾		02/25/31	EUR	112,592		129,742

3.50%⁽³⁾		11/25/35	EUR	13,000		15,015

3.75%⁽³⁾		05/25/56	EUR	63,000		64,897

Hungary Government Bonds

3.00%		08/21/30	HUF	2,250,000		6,469

Indonesia Treasury Bonds

6.63%		02/15/34	IDR	1,400,000,000		80,047

Ireland Government Bonds

2.60%⁽³⁾		10/18/34	EUR	43,761		49,429

Israel Government Bonds—Fixed

1.30%		04/30/32	ILS	142,000		41,640

Italy Buoni Poliennali Del Tesoro

3.50%⁽³⁾		02/15/31	EUR	153,000		181,838

Japan Government Five Year Bonds

1.60%		12/20/30	JPY	32,650,000		206,145

Japan Government Ten Year Bonds

2.10%		12/20/35	JPY	103,550,000		640,542

Japan Government Thirty Year Bonds

2.30%		12/20/54	JPY	55,600,000		266,414

Kingdom of Belgium Government Bonds

0.10%⁽³⁾		06/22/30	EUR	281,022		293,938

Korea Treasury Bonds

1.88%		03/10/51	KRW	97,920,000		45,744

2.00%		06/10/31	KRW	334,600,000		206,883

Malaysia Government Bonds

4.64%		11/07/33	MYR	338,000		91,438

Mexico Bonos

8.00%		07/31/53	MXN	600,000		28,656

8.50%		03/01/29	MXN	620,000		35,741

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

FOREIGN GOVERNMENT BONDS (Continued)

Netherlands Government Bonds

2.50%⁽³⁾		07/15/34	EUR	35,000	$	39,484

New South Wales Treasury Corp.

4.75%⁽³⁾		02/20/37	AUD	125,000		83,185

5.25%⁽³⁾		02/24/38	AUD	10,000		6,874

New Zealand Government Bonds

4.25%		05/15/34	NZD	46,000		26,519

4.50%		05/15/30	NZD	22,000		13,165

Norway Government Bonds

3.63%⁽³⁾		04/13/34	NOK	279,000		28,521

Peru Government International Bonds

7.30%⁽³⁾		08/12/33	PEN	51,000		15,964

Province of British Columbia

4.45%		12/18/55	CAD	105,000		73,711

Province of Ontario

4.15%		12/02/54	CAD	50,000		33,798

Province of Quebec

4.40%		12/01/55	CAD	35,000		24,398

Queensland Treasury Corp.

5.00%⁽³⁾		07/21/37	AUD	125,000		84,359

5.25%⁽³⁾		08/13/38	AUD	10,000		6,820

Republic of Austria Government Bonds

3.45%⁽³⁾		10/20/30	EUR	205,300		247,077

Republic of Poland Government Bonds

4.50%		07/25/30	PLN	255,000		68,694

Romania Government Bonds

7.10%		07/31/34	RON	65,000		14,533

Singapore Government Bonds

3.00%		04/01/29	SGD	165,000		134,664

Sweden Government Bonds

0.13%⁽³⁾		05/12/31	SEK	355,000		34,030

Thailand Government Bonds

1.59%		12/17/35	THB	3,054,000		88,866

Treasury Corp. of Victoria

2.00%		11/20/37	AUD	45,000		21,960

U.K. Gilts

4.13%⁽³⁾		03/07/31	GBP	479,000		639,720

4.38%⁽³⁾		03/07/28	GBP	294,000		398,955

4.38%⁽³⁾		07/31/54	GBP	113,000		124,945

4.50%⁽³⁾		03/07/35	GBP	473,611		622,966


Total Foreign Government Bonds

(Cost: $9,146,285)						9,300,630


RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 22.7%

Federal Home Loan Mortgage Corp., Pool #G08681

3.50%		12/01/45		12,535		11,663

Federal Home Loan Mortgage Corp., Pool #G08698

3.50%		03/01/46		11,802		10,955


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp., Pool #G08716

3.50%		08/01/46	$	12,031	$	11,169

Federal Home Loan Mortgage Corp., Pool #G08721

3.00%		09/01/46		2,461		2,217

Federal Home Loan Mortgage Corp., Pool #G08722

3.50%		09/01/46		1,224		1,136

Federal Home Loan Mortgage Corp., Pool #G08732

3.00%		11/01/46		3,502		3,154

Federal Home Loan Mortgage Corp., Pool #G08762

4.00%		05/01/47		10,757		10,253

Federal Home Loan Mortgage Corp., Pool #G08833

5.00%		07/01/48		1,457		1,466

Federal Home Loan Mortgage Corp., Pool #QD7360

2.50%		02/01/52		38,539		32,490

Federal Home Loan Mortgage Corp., Pool #SD0231

3.00%		01/01/50		71,339		63,716

Federal Home Loan Mortgage Corp., Pool #SD5323

4.00%		01/01/54		64,818		61,072

Federal Home Loan Mortgage Corp., Pool #SD8189

2.50%		01/01/52		36,578		30,880

Federal Home Loan Mortgage Corp., Pool #SD8204

2.00%		04/01/52		159,852		128,723

Federal Home Loan Mortgage Corp., Pool #SD8245

4.50%		09/01/52		137,663		133,376

Federal Home Loan Mortgage Corp., Pool #SD8266

4.50%		11/01/52		78,692		76,172

Federal Home Loan Mortgage Corp., Pool #SD8347

4.50%		08/01/53		92,429		89,368

Federal Home Loan Mortgage Corp., Pool #SD8491

5.00%		12/01/54		17,731		17,509

Federal Home Loan Mortgage Corp., Pool #SL1660

4.50%		10/01/53		23,558		22,805

Federal Home Loan Mortgage Corp., Pool #ZT1703

4.00%		01/01/49		28,128		26,831

Federal Home Loan Mortgage Corp. REMICS Series 3439, Class SC (I/O) (I/F)

2.15% (-30 day USD SOFR Average + 5.786%)⁽¹⁾		04/15/38		24,041		1,449

Federal National Mortgage Association, Pool #AB3679

3.50%		10/01/41		31,453		29,778

Federal National Mortgage Association, Pool #AB4045

3.50%		12/01/41		41,347		39,183

Federal National Mortgage Association, Pool #AT5914

3.50%		06/01/43		14,867		13,995

Federal National Mortgage Association, Pool #BD7081

4.00%		03/01/47		11,626		11,067

Federal National Mortgage Association, Pool #BV2994

2.50%		04/01/52		77,689		65,489

Federal National Mortgage Association, Pool #CA0996

3.50%		01/01/48		36,506		33,833

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association, Pool #CA2208

4.50%		08/01/48	$	1,030	$	1,009

Federal National Mortgage Association, Pool #CB2610

2.00%		01/01/52		57,324		46,502

Federal National Mortgage Association, Pool #CB3347

2.00%		01/01/52		151,551		122,006

Federal National Mortgage Association, Pool #FM2870

3.00%		03/01/50		94,526		84,426

Federal National Mortgage Association, Pool #FS7252

5.00%		11/01/53		62,045		61,543

Federal National Mortgage Association, Pool #MA1527

3.00%		08/01/33		6,642		6,401

Federal National Mortgage Association, Pool #MA1652

3.50%		11/01/33		10,900		10,631

Federal National Mortgage Association, Pool #MA2705

3.00%		08/01/46		44,765		40,264

Federal National Mortgage Association, Pool #MA4204

2.00%		12/01/40		43,267		37,964

Federal National Mortgage Association, Pool #MA4626

4.00%		06/01/52		161,491		152,220

Federal National Mortgage Association, Pool #MA4656

4.50%		07/01/52		111,839		108,299

Federal National Mortgage Association, Pool #MA4732

4.00%		09/01/52		39,045		36,819

Federal National Mortgage Association, Pool #MA4733

4.50%		09/01/52		34,048		32,964

Federal National Mortgage Association, Pool #MA4804

4.00%		11/01/52		101,365		95,506

Federal National Mortgage Association, Pool #MA4917

4.50%		02/01/53		60,187		58,239

Federal National Mortgage Association, Pool #MA5008

4.50%		05/01/53		24,404		23,585

Federal National Mortgage Association, Pool #MA5107

5.50%		08/01/53		57,620		58,134

Federal National Mortgage Association REMICS Series 2007-52, Class LS (I/O) (I/F)

2.29% (-30 day USD SOFR Average + 5.936%)⁽¹⁾		06/25/37		24,017		1,902

Federal National Mortgage Association REMICS Series 2008-18, Class SM (I/O) (I/F)

3.24% (-30 day USD SOFR Average + 6.886%)⁽¹⁾		03/25/38		24,470		2,541

Federal National Mortgage Association REMICS Series 2009-115, Class SB (I/O) (I/F)

2.49% (-30 day USD SOFR Average + 6.136%)⁽¹⁾		01/25/40		14,710		1,273

Federal National Mortgage Association REMICS Series 2010-116, Class SE (I/O) (I/F)

2.84% (-30 day USD SOFR Average + 6.486%)⁽¹⁾		10/25/40		25,504		2,218


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Government National Mortgage Association, Pool #MA3597

3.50%		04/20/46	$	7,478	$	6,910

Government National Mortgage Association, Pool #MA3662

3.00%		05/20/46		20,492		18,501

Government National Mortgage Association, Pool #MA3663

3.50%		05/20/46		1,071		990

Government National Mortgage Association, Pool #MA3803

3.50%		07/20/46		4,987		4,608

Government National Mortgage Association, Pool #MA4454

5.00%		05/20/47		5,273		5,366

Government National Mortgage Association, Pool #MA4900

3.50%		12/20/47		22,769		21,019

Government National Mortgage Association, Pool #MA5399

4.50%		08/20/48		9,232		9,061

Government National Mortgage Association, Pool #MA8346

4.00%		10/20/52		56,837		53,633

Government National Mortgage Association, Pool #MA8347

4.50%		10/20/52		48,723		47,443

Government National Mortgage Association, Pool #MA8488

4.00%		12/20/52		51,833		48,911

Government National Mortgage Association REMICS Series 2011-146, Class EI (I/O) (PAC)

5.00%		11/16/41		22,825		4,145

Government National Mortgage Association, TBA

2.50%⁽¹⁰⁾		11/01/51		150,000		128,505

5.00%⁽¹⁰⁾		02/01/56		50,000		49,581

5.50%⁽¹⁰⁾		01/01/56		50,000		50,354

4.00%⁽¹⁰⁾		07/01/55		325,000		302,966

Uniform Mortgage-Backed Security, TBA

2.00%⁽¹⁰⁾		10/01/51		25,000		20,018

2.50%⁽¹⁰⁾		10/01/51		25,000		20,946

3.00%⁽¹⁰⁾		12/01/51		25,000		21,894

3.50%⁽¹⁰⁾		01/01/52		725,000		660,346

4.00%⁽¹⁰⁾		06/01/55		525,000		492,542

4.50%⁽¹⁰⁾		02/01/56		425,000		408,966

5.00%⁽¹⁰⁾		02/01/56		250,000		246,372

5.50%⁽¹⁰⁾		01/01/56		100,000		100,528


Total Residential Mortgage-Backed Securities — Agency

(Cost: $4,745,602)						4,637,800


RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 4.3%

BCMSC Trust Series 2000-A, Class A4

8.29%⁽⁴⁾		06/15/30		189,525		10,829

Bear Stearns ALT-A Trust Series 2005-8, Class 11A1

4.31% (1 mo. USD Term SOFR + 0.654%)⁽¹⁾		10/25/35		17,916		16,819

Countrywide Alternative Loan Trust Series 2006-HY12, Class A5

4.14%⁽⁴⁾		08/25/36		93,769		88,720

Countrywide Asset-Backed Certificates Trust Series 2007-13, Class 2A1

4.67% (1 mo. USD Term SOFR + 1.014%)⁽¹⁾		10/25/47		48,790		45,140

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Deephaven Residential Mortgage Trust Series 2021-3, Class A1

1.19%^(2),(4)		08/25/66	$	59,715	$	53,033

IndyMac INDX Mortgage Loan Trust Series 2005-AR15, Class A2

3.84%⁽⁴⁾		09/25/35		34,913		28,371

JPMorgan Mortgage Acquisition Trust Series 2006-CH2, Class AF3

5.96%		09/25/29		142,478		83,626

Merrill Lynch Alternative Notes Asset Trust Series 2007-A1, Class A2B

4.07% (1 mo. USD Term SOFR + 0.414%)⁽¹⁾		01/25/37		257,654		76,830

MFA Trust Series 2021-RPL1, Class A2

2.07%^(2),(4)		07/25/60		100,000		85,391

Morgan Stanley ABS Capital I, Inc. Trust Series 2006-HE4, Class A4

4.25% (1 mo. USD Term SOFR + 0.594%)⁽¹⁾		06/25/36		203,174		100,208

Morgan Stanley ABS Capital I, Inc. Trust Series 2006-WMC1, Class A2C

4.39% (1 mo. USD Term SOFR + 0.734%)⁽¹⁾		12/25/35		39,757		39,307

Morgan Stanley ABS Capital I, Inc. Trust Series 2007-HE2, Class A2B

3.86% (1 mo. USD Term SOFR + 0.204%)⁽¹⁾		01/25/37		129,847		59,609

MortgageIT Trust Series 2005-1, Class 1A1

4.41% (1 mo. USD Term SOFR + 0.754%)⁽¹⁾		02/25/35		5,149		5,136

Ownit Mortgage Loan Trust Series 2006-3, Class A2D

4.31% (1 mo. USD Term SOFR + 0.654%)⁽¹⁾		03/25/37		18,589		18,108

Residential Asset Securitization Trust Series 2005-A15, Class 2A11 (I/O) (I/F)

1.78% (-1 mo. USD Term SOFR + 5.436%)⁽¹⁾		02/25/36		422,103		34,325

Structured Adjustable Rate Mortgage Loan Trust Series 2004-18, Class 4A1

5.62%⁽⁴⁾		12/25/34		1,582		1,578

Structured Asset Mortgage Investments II Trust Series 2005-AR6, Class 2A1

4.39% (1 mo. USD Term SOFR + 0.734%)⁽¹⁾		09/25/45		14,926		13,968

Structured Asset Mortgage Investments II Trust Series 2006-AR8, Class A2

4.19% (1 mo. USD Term SOFR + 0.534%)⁽¹⁾		10/25/36		98,651		90,909

WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR2, Class 2A1A

4.39% (1 mo. USD Term SOFR + 0.734%)⁽¹⁾		01/25/45		20,580		20,684


Total Residential Mortgage-Backed Securities — Non-Agency

(Cost: $1,061,461)						872,591


Issues	Maturity Date		Principal Amount		Value

U.S. TREASURY SECURITIES — 2.3%

U.S. Treasury Bonds

4.75%		02/15/56	$	107,000	$	103,029

U.S. Treasury Notes

3.75%		04/30/28		20,000		19,949

3.88%		03/31/28		13,000		12,998

3.88%		04/30/31		46,000		45,697

4.13%		04/30/33		25,000		24,875

4.13%		02/15/36		264,000		258,462


Total U.S. Treasury Securities

(Cost: $469,284)						465,010


Total Fixed Income Securities

(Cost: $20,112,847)						20,081,513


CONVERTIBLE SECURITIES — 0.0%

CONVERTIBLE CORPORATE BONDS — 0.0%

Commercial Services — 0.0%

Worldline SA (France)

0.00%^(3),(6)		07/30/26	EUR	3,612		4,325


Total Convertible Securities

(Cost: $3,884)						4,325


Issues	Shares		Value

COMMON STOCK — 0.0%

HEALTH CARE-SERVICES — 0.0%

ModivCare, Inc.⁽¹¹⁾		285		1,852


Total Common Stock

(Cost: $—)				1,852


INVESTMENT COMPANIES — 1.0%

TCW Emerging Markets Income Fund — I Class⁽¹²⁾		30,734		214,521


Total Investment Companies

(Cost: $199,450)				214,521


MONEY MARKET INVESTMENTS — 12.9%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60%⁽¹³⁾		152,912		152,912

TCW Central Cash Fund, 3.69%^(12),(13)		2,474,788		2,474,788


Total Money Market Investments

(Cost: $2,627,700)				2,627,700


PURCHASED OPTIONS⁽¹⁴⁾ — 0.0%

(Cost: $1,380)				2,416

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026

Issues

Maturity
Date

Principal
Amount

Value

SHORT-TERM INVESTMENT — 0.1%

Egypt — 0.1%

Egypt Treasury Bills

0.00%

10/27/26

EGP 1,225,000

20,579

Total Short-Term Investment

(Cost: $23,177)

20,579

Total Investments (112.3%)

(Cost: $22,968,438)

22,952,906

Liabilities In Excess Of Other Assets (-12.3%)

(2,521,603)

Net Assets (100.0%)

20,431,303


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⁾
Citibank N.A.		AUD		29,200		06/26/26	$	20,116	$	20,973	$	857
Barclays Capital		CAD		554,211		06/26/26		402,763		408,137		5,374
JP Morgan Chase Bank		CAD		16,373		06/26/26		12,042		12,058		16
JP Morgan Chase Bank		CHF		93,329		06/26/26		118,787		120,009		1,222
Citibank N.A.		CLP		18,562,100		06/11/26		20,315		20,557		242
Citibank N.A.		CNH		2,911,267		06/26/26		423,215		427,605		4,390
State Street Bank & Trust Co.		CNY		75,264		06/26/26		11,068		11,052		(16	)
JP Morgan Chase Bank		DKK		286,113		06/26/26		44,442		45,048		606
UBS AG		EUR		21,727		05/07/26		25,391		25,489		98
Goldman Sachs & Co.		EUR		695,738		06/26/26		804,750		818,075		13,325
State Street Bank & Trust Co.		EUR		50,438		06/26/26		59,134		59,307		173
UBS AG		EUR		399,697		06/26/26		469,867		469,979		112
Citibank N.A.		EUR		13,256		06/26/26		15,314		15,587		273
UBS AG		GBP		177,020		06/26/26		239,591		240,518		927
JP Morgan Chase Bank		GBP		25,556		06/26/26		34,642		34,723		81
ING Baring (U.S.) Capital Markets		GBP		150,773		06/26/26		199,452		204,856		5,404
State Street Bank & Trust Co.		GBP		8,678		06/26/26		11,775		11,791		16
Citibank N.A.		HUF		6,864,000		06/11/26		20,018		22,039		2,021
Goldman Sachs & Co.		HUF		2,805,000		06/26/26		8,324		8,998		674
Barclays Capital		IDR		1,638,921,033		07/27/26		96,749		94,287		(2,462	)
Goldman Sachs & Co.		ILS		7,286		06/26/26		2,334		2,469		135
Barclays Capital		JPY		102,299,937		06/26/26		645,609		655,566		9,957
State Street Bank & Trust Co.		JPY		1,941,089		06/26/26		12,434		12,439		5
Deutsche Bank AG		KRW		127,015,508		07/20/26		86,299		85,822		(477	)
Citibank N.A.		MXN		204,528		06/26/26		11,385		11,628		243
Goldman Sachs & Co.		MYR		80,900		06/11/26		20,505		20,391		(114	)
Barclays Capital		NOK		430,816		06/26/26		44,428		46,283		1,855
JP Morgan Chase Bank		NZD		78,666		06/26/26		45,403		46,396		993
Goldman Sachs & Co.		PLN		114,622		06/26/26		30,866		31,578		712
Goldman Sachs & Co.		RON		25,093		06/26/26		5,644		5,648		4
JP Morgan Chase Bank		SEK		409,220		06/26/26		43,560		44,351		791
Barclays Capital		TRY		2,229,099		08/04/26		44,814		45,283		469
Morgan Stanley Bank N.A.		TRY		414,455		08/04/26		8,307		8,419		112
Barclays Capital		ZAR		340,600		06/11/26		20,382		20,339		(43	)

							$	4,059,725	$	4,107,700	$	47,975

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (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 ⁽¹⁶⁾
ING Baring (U.S.) Capital Markets		AUD		29,000		06/26/26	$	20,644	$	20,829	$	(185	)
Goldman Sachs & Co.		AUD		381,930		06/26/26		262,672		274,319		(11,647	)
Citibank N.A.		BRL		1,832,363		06/26/26		344,004		363,103		(19,099	)
ING Baring (U.S.) Capital Markets		BRL		56,230		06/26/26		11,127		11,143		(16	)
Citibank N.A.		CLP		18,005,721		06/26/26		19,307		19,940		(633	)
Citibank N.A.		CNH		160,541		06/26/26		23,348		23,580		(232	)
Goldman Sachs & Co.		CZK		3,115,591		06/26/26		147,174		150,074		(2,900	)
UBS AG		EUR		207,950		06/26/26		241,668		244,515		(2,847	)
JP Morgan Chase Bank		EUR		10,286		06/26/26		12,096		12,095		1
Citibank N.A.		GBP		18,558		06/26/26		24,567		25,215		(648	)
State Street Bank & Trust Co.		GBP		69,807		06/26/26		93,995		94,848		(853	)
Barclays Capital		GBP		175,253		06/26/26		236,002		238,118		(2,116	)
UBS AG		GBP		972,869		06/26/26		1,295,196		1,321,846		(26,650	)
JP Morgan Chase Bank		GBP		41,995		06/26/26		56,295		57,059		(764	)
State Street Bank & Trust Co.		HUF		6,864,000		06/11/26		22,118		22,039		79
Citibank N.A.		IDR		1,683,200,253		06/26/26		99,253		96,989		2,264
HSBC Bank Plc		ILS		22,851		06/26/26		7,447		7,743		(296	)
JP Morgan Chase Bank		JPY		12,172,822		06/26/26		77,050		78,007		(957	)
Bank of New York		JPY		18,821,889		06/26/26		118,732		120,616		(1,884	)
Citibank N.A.		KRW		51,232,520		06/26/26		34,689		34,591		98
Goldman Sachs & Co.		KRW		28,443,698		06/26/26		18,921		19,205		(284	)
Barclays Capital		MYR		27,297		06/26/26		6,846		6,883		(37	)
State Street Bank & Trust Co.		NOK		481,310		06/26/26		52,000		51,707		293
Citibank N.A.		PEN		12,349		06/26/26		3,534		3,494		40
Deutsche Bank AG		PLN		128,020		06/26/26		35,223		35,270		(47	)
Citibank N.A.		SGD		116,524		06/26/26		91,168		91,831		(663	)
Citibank N.A.		THB		589,452		06/26/26		17,912		18,157		(245	)

							$	3,372,988	$	3,443,216	$	(70,228	)


Futures Contracts

Number of Contracts	Type	Expiration Date		Notional Contract Value		Market Value		Net Unrealized Appreciation (Depreciation)
Long Futures
4	10-Year U.S. Treasury Note Futures		06/18/26	$	452,195	$	442,375	$	(9,820	)
5	2-Year Canadian Bond Futures		06/19/26		389,016		385,754		(3,262	)
5	2-Year U.S. Treasury Note Futures		06/30/26		1,044,743		1,035,625		(9,118	)
2	5-Year Canadian Bond Futures		06/19/26		168,838		165,851		(2,987	)
5	5-Year U.S. Treasury Note Futures		06/30/26		546,376		539,180		(7,196	)
6	Euro Schatz Futures		06/08/26		746,138		744,300		(1,838	)
10	Euro-Bobl Futures		06/08/26		1,380,342		1,354,286		(26,056	)
2	Euro-OAT Future		06/08/26		288,057		279,819		(8,238	)
4	U.S. Ultra Long Bond Futures		06/18/26		479,008		460,125		(18,883	)

				$	5,494,713	$	5,407,315	$	(87,398	)

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026


Futures Contracts

Number of Contracts	Type	Expiration Date		Notional Contract Value			Market Value			Net Unrealized Appreciation (Depreciation)
Short Futures
1	10-Year Canadian Bond Futures		06/19/26	$	(89,683	)	$	(87,525	)	$	2,158
2	10-Year U.S. Treasury Note Futures		06/18/26		(231,278	)		(225,719	)		5,559
2	3-Year Australian Bond Futures		06/15/26		(149,367	)		(148,639	)		728
1	Euro-Bund Futures		06/08/26		(146,430	)		(147,053	)		(623	)
2	Long Gilt Futures		06/26/26		(241,451	)		(235,326	)		6,125

				$	(858,209	)	$	(844,262	)	$	13,947


Swaptions

Description	Counterparty	Coupon Rate (%)		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation (Depreciation)
Purchased Swaptions — OTC
5-Year Interest Rate Swap	Barclays Capital		4.06		10/19/26		460,000			460,000		$	2,416		$	1,380		$	1,036

Total Purchased Swaptions												$	2,416		$	1,380		$	1,036

Written Swaptions — OTC
2-Year Interest Rate Swap	JP Morgan Chase Bank		3.60		07/15/26		(807,000	)		(807,000	)	$	(298	)	$	(657	)	$	359
2-Year Interest Rate Swap	JP Morgan Chase Bank		4.60		07/15/26		(807,000	)		(807,000	)		(2,876	)		(1,424	)		(1,452	)

Total Written Swaptions												$	(3,174	)	$	(2,081	)	$	(1,093	)


Centrally Cleared — Interest Rate Swap Agreements

Notional Amount	Expiration Date		Payment Made by Fund Frequency		Payment Made by Fund		Payment Received by FundFrequency		Payment Received by Fund			Unrealized Appreciation (Depreciation)			Premium Paid			Value
GBP 1,573,000		03/20/28		Annual		12 -Month SONIA		Annual		3.933	%	$	4,281		$	(19,069	)	$	(14,788	)
GBP 1,330,000		03/16/28		Annual		12 -Month SONIA		Annual		3.836	%		(15,557	)		—			(15,557	)

												$	(11,276	)	$	(19,069	)	$	(30,345	)

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Schedule of Investments (Unaudited) (Continued)

Notes to the Schedule of Investments:

ABS

Asset-Backed Securities.

ACES

Alternative Credit Enhancement Securities.

CLO

Collateralized Loan Obligation.

HUF

Hungarian Forint.

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.

RON

New Romanian Leu.

SOFR

Secured Overnight Financing Rate.

SONIA

Sterling Overnight Index Average.

TBA

To Be Announced.

AUD

Australian Dollar.

BRL

Brazilian Real.

CAD

Canadian Dollar.

CHF

Swiss Franc.

CLP

Chilean Peso.

CNH

Chinese Yuan Renminbi.

CNY

Chinese Yuan.

CZK

Czech Koruna.

DKK

Danish Krone.

EGP

Egyptian Pound.

EUR

Euro Currency.

GBP

British Pound Sterling.

HUF

Hungarian Forint.

IDR

Indonesian Rupiah.

ILS

Israeli Shekel.

JPY

Japanese Yen.

KRW

South Korean Won.

MXN

Mexican Peso.

MYR

Malaysian Ringgit.

NOK

Norwegian Krona.

NZD

New Zealand Dollar.

PEN

Peruvian Nuevo Sol.

PLN

Polish Zloty.

RON

Romanian New Leu.

SEK

Swedish Krona.

SGD

Singapore Dollar.

THB

Thai Baht.

TRY

Turkish New Lira.

ZAR

South African Rand.

(1)

Floating or variable rate security. The interest shown reflects the rate in effect at April 30, 2026.

(2)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At April 30, 2026, the value of these securities amounted to $2,761,961 or 13.5% 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 Company’s Board of Directors.

(3)

(4)

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

April 30, 2026

(5)

Restricted security (Note 7).

(6)

Security is not accruing interest.

(7)

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.

(8)

Perpetual maturity.

(9)

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

(10)

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.

(11)

Non-income producing security.

(12)

Affiliated issuer.

(13)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(14)

See options table for description of purchased options.

(15)

Fund buys foreign currency, sells USD.

(16)

Fund sells foreign currency, buys USD.

The summary of the TCW Global Bond Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	1,294,788	$	7,280,000	$	6,100,000		2,474,788	$	2,474,788	$	26,057	$	—	$	—	$	—
TCW Emerging Markets Income Fund — I Class
		206,511		7,993		—		30,734		214,521		6,954		—		—		17

Total									$	2,689,309	$	33,011	$	—	$	—	$	17

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Foreign Government Bonds	$	—		$	9,300,630		$	—	$	9,300,630
Residential Mortgage-Backed Securities — Agency		—			4,637,800			—		4,637,800
Corporate Bonds		—			2,142,529			—		2,142,529
Asset-Backed Securities		—			1,633,723			—		1,633,723
Commercial Mortgage-Backed Securities — Non-Agency		—			988,429			—		988,429
Residential Mortgage-Backed Securities — Non-Agency		—			872,591			—		872,591
U.S. Treasury Securities		—			465,010			—		465,010
Commercial Mortgage-Backed Securities — Agency		—			40,801			—		40,801

Total Fixed Income Securities		—			20,081,513			—		20,081,513

Convertible Securities
Convertible Corporate Bonds		—			4,325			—		4,325
Equity Securities
Money Market Investments		2,627,700			—			—		2,627,700
Investment Companies		214,521			—			—		214,521
Common Stock		—			1,852			—		1,852

Total Equity Securities		2,842,221			1,852			—		2,844,073

Short-Term Investment
Short-Term Investment		—			20,579			—		20,579
Swaptions
Purchased Swaptions — OTC		—			2,416			—		2,416

Total Investments	$	2,842,221		$	20,110,685		$	—	$	22,952,906

Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—			53,862			—		53,862
Futures Contracts
Interest Rate Risk		14,570			—			—		14,570

Total	$	2,856,791		$	20,164,547		$	—	$	23,021,338

Liability Derivatives
Forward Currency Contracts
Foreign Currency Risk	$	—		$	(76,115	)	$	—	$	(76,115	)
Futures Contracts
Interest Rate Risk		(88,021	)		—			—		(88,021	)
Written Swaptions
Interest Rate Risk		—			(3,174	)		—		(3,174	)
Swap Agreements
Interest Rate Risk		—			(30,345	)		—		(30,345	)

Total	$	(88,021	)	$	(109,634	)	$	—	$	(197,655	)

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited)

April 30, 2026

Issues

Maturity
Date

Principal
Amount

Value

FIXED INCOME SECURITIES — 115.8% of Net Assets

ASSET-BACKED SECURITIES — 10.2%

AIMCO CLO 24 Ltd. Series 2025-24A, Class SUB

0.00%^(1),(2),(3)

04/19/38

4,200,000

2,540,966

ALLO Issuer LLC Series 2023-1A, Class C

12.18%⁽¹⁾

06/20/53

6,065,000

6,282,026

ALLO Issuer LLC Series 2024-1A, Class C

11.19%⁽¹⁾

07/20/54

1,381,200

1,456,183

Anchorage Credit Funding 19 Ltd. Series 2025-19A, Class C

5.59%⁽¹⁾

10/25/40

2,200,000

2,174,251

Apidos CLO XI Ltd. Series 2012-11A, Class SUB

0.00%^(1),(2),(3)

04/17/34

11,000,000

1,817,816

Avis Budget Rental Car Funding AESOP LLC Series 2021-1A, Class D

3.71%⁽¹⁾

08/20/27

6,666,667

6,643,895

Avis Budget Rental Car Funding AESOP LLC Series 2021-2A, Class D

4.08%⁽¹⁾

02/20/28

2,825,000

2,798,376

Avis Budget Rental Car Funding AESOP LLC Series 2023-7A, Class D

7.31%⁽¹⁾

08/21/28

8,000,000

8,090,143

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

3,131,119

3,165,681

BBAM U.S. CLO VI Ltd. Series 2025-6A, Class SUB

0.00%^(1),(2),(3)

01/27/39

2,000,000

1,500,454

Blue Stream Issuer LLC Series 2023-1A, Class C

8.90%⁽¹⁾

05/20/53

2,500,000

2,538,099

Brookhaven Park CLO Ltd. Series 2024-1A, Class E

10.18% (3 mo. USD Term SOFR + 6.500%)^(1),(4)

04/19/37

1,375,000

1,286,482

CARS-DB4 LP Series 2020-1A

4.52%⁽¹⁾

02/15/50

1,550,000

1,531,703

CARS-DB5 LP Series 2021-1A

1.44%⁽¹⁾

08/15/51

3,445,891

3,412,566

Carvana Auto Receivables Trust Series 2021-N3, Class R

0.00%^(1),(2),(5)

06/12/28

25,650

1,917,958

Carvana Auto Receivables Trust Series 2023-P1, Class R

0.00%^(1),(2),(5)

03/11/30

2,950

185,082

CIFC Funding Ltd. Series 2022-2A, Class B

0.00%^(1),(2)

04/19/35

3,300,000

1,371,859

Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC Series 2025-1A, Class C

9.41%⁽¹⁾

05/20/55

6,010,000

6,305,403

Diamond Infrastructure Funding LLC Series 2021-1A, Class C

3.48%⁽¹⁾

04/15/49

3,690,000

3,608,385

Diamond Issuer LLC Series 2021-1A, Class C

3.79%⁽¹⁾

11/20/51

3,690,000

3,568,372

Issues

Maturity
Date

Principal
Amount

Value

ASSET-BACKED SECURITIES (Continued)

Edgeconnex Data Centers Issuer LLC Series 2022-1, Class A2

4.25%⁽¹⁾

03/25/52

10,210,875

9,952,521

FHF Issuer Trust Series 2025-1A, Class A2

4.92%⁽¹⁾

02/15/31

1,856,098

1,856,654

GoldenTree Loan Management U.S. CLO 22 Ltd. Series 2024-22A, Class F

11.60% (3 mo. USD Term SOFR + 7.920%)^(1),(4)

10/20/37

1,800,000

1,756,247

Golub Capital Partners CLO 77 B Ltd. Series 2024-77A, Class E

8.52% (3 mo. USD Term SOFR + 4.850%)^(1),(4)

01/25/38

550,000

534,440

Hertz Vehicle Financing III LLC Series 2023-1A, Class 1D

9.13%⁽¹⁾

06/25/27

800,000

802,940

Hertz Vehicle Financing III LP Series 2021-2A, Class D

4.34%⁽¹⁾

12/27/27

12,090,000

11,970,235

Higley Park CLO Ltd. Series 2025-1A, Class SUB

0.00%^(1),(2),(3)

07/24/38

4,000,000

2,891,352

HOA Funding LLC

0.00%^{(1),(2),(6),(7)}

08/20/51

6,136,164

Hotwire Funding LLC Series 2021-1, Class B

2.66%⁽¹⁾

11/20/51

2,775,000

2,741,172

Hotwire Funding LLC Series 2021-1, Class C

4.46%⁽¹⁾

11/20/51

2,380,000

2,363,238

Hotwire Funding LLC Series 2024-1A, Class C

9.19%⁽¹⁾

06/20/54

3,425,000

3,547,294

HPS Loan Management Ltd. Series 2021-16A, Class ER

10.17% (3 mo. USD Term SOFR + 6.500%)^(1),(4)

01/23/35

2,700,000

2,602,330

Huntington Bank Auto Credit-Linked Notes Series 2025-2, Class D

6.89% (30 day USD SOFR Average + 3.250%)^(1),(4)

09/20/33

582,202

569,464

Huntington Bank Auto Credit-Linked Notes Series 2025-2, Class E

10.24% (30 day USD SOFR Average + 6.600%)^(1),(4)

09/20/33

894,412

871,645

Huntington Bank Auto Credit-Linked Notes Series 2026-1

12.29% (30 day USD SOFR Average + 8.650%)^(1),(4)

02/20/34

1,160,603

1,162,379

LMDV Issuer Co. LLC Series 2025-1A, Class C

7.88%⁽¹⁾

12/15/55

2,610,000

2,642,889

LMRK Issuer Co. 2 LLC Series 2025-1A, Class B

6.20%⁽¹⁾

09/15/55

2,400,000

2,400,543

Magnetite XLII Ltd. Series 2024-42A, Class SUB

7.43%^(1),(3)

01/25/38

5,000,000

3,095,815

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)

Issues

Maturity
Date

Principal
Amount

Value

ASSET-BACKED SECURITIES (Continued)

MAPS Trust Series 2026-1A, Class B

6.13%⁽¹⁾

01/15/51

1,865,453

1,855,844

Milford Park CLO Ltd. Series 2022-1A, Class D1R

6.38% (3 mo. USD Term SOFR + 2.700%)^(1),(4)

01/20/38

2,000,000

1,937,500

NCFA LLC – Loan Participation 1

2.75%⁽⁶⁾

06/12/28

7,353,221

7,345,132

NCFA LLC – Loan Participation 2

3.14%⁽⁶⁾

12/19/27

4,072,478

4,068,405

NCFA LLC – Loan Participation 3

7.90%^(3),(6)

04/11/30

1,830,000

NCFA LLC – Loan Participation 5

6.16%

07/03/27

4,000,000

Neuberger Berman Loan Advisers CLO 44 Ltd. Series 2021-44A, Class DR

6.33% (3 mo. USD Term SOFR + 2.650%)^(1),(4)

10/16/35

1,650,000

1,639,975

New Mountain CLO 8 Ltd. Series CLO-8A, Class M

0.10%^(1),(6),(8)

10/20/38

430,000

—

New Mountain CLO 8 Ltd. Series CLO-8A, Class SUB

0.00%^(1),(2),(3)

10/20/38

4,300,000

2,881,972

Newday Funding Master Issuer PLC Series 2024-1X, Class E

8.54% (1 day GBP SONIA + 4.800%)^(4),(9)

03/15/32

GBP

1,950,000

2,707,887

Newday Funding Master Issuer PLC Series 2024-2X, Class E

7.64% (1 day GBP SONIA + 3.900%)^(4),(9)

07/15/32

GBP

1,500,000

2,074,617

Newday Funding Master Issuer PLC Series 2025-2A, Class E

6.74% (1 day GBP SONIA + 3.000%)^(1),(4)

07/15/33

GBP

1,700,000

2,310,527

OCP CLO Ltd. Series 2025-44A, Class SUB

0.00%^(1),(2),(3)

10/24/38

3,250,000

2,467,371

Peace Park CLO Ltd. Series 2021-1A, Class D1R

6.38% (3 mo. USD Term SOFR + 2.700%)^(1),(4)

10/20/38

2,000,000

1,957,744

Switch ABS Issuer LLC Series 2024-2A, Class B

6.20%⁽¹⁾

06/25/54

2,800,000

2,752,120

Switch ABS Issuer LLC Series 2024-2A, Class C

10.03%⁽¹⁾

06/25/54

3,650,000

3,725,758

Switch ABS Issuer LLC Series 2025-2A, Class B

6.24%⁽¹⁾

10/25/55

2,280,000

2,196,322


Issues	Maturity Date		Principal Amount		Value

ASSET-BACKED SECURITIES (Continued)

U.S. Bank C&I Credit-Linked Notes Series 2025-SUP2, Class D

5.85% (30 day USD SOFR Average + 2.200%)^(1),(4)		09/25/32	$	2,635,408	$	2,646,638

VB-S1 Issuer LLC Series 2022-1A, Class C2I

3.16%⁽¹⁾		02/15/52		3,985,000		3,892,750

Wireless PropCo Funding LLC Series 2025-1A, Class C

8.51%⁽¹⁾		06/25/55		1,000,000		1,006,332


Total Asset-Backed Securities

(Cost: $178,896,746)						167,253,753


RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY — 68.7%

Federal Home Loan Mortgage Corp., Pool #QE0312

2.00%		04/01/52		9,851,185		7,932,831

Federal Home Loan Mortgage Corp., Pool #SD8147

2.50%		05/01/51		12,249,034		10,371,140

Federal Home Loan Mortgage Corp., Pool #SD8194

2.50%		02/01/52		2,245,790		1,895,223

Federal Home Loan Mortgage Corp., Pool #SD8212

2.50%		05/01/52		10,233,198		8,634,581

Federal Home Loan Mortgage Corp., Pool #G08710

3.00%		06/01/46		753,011		678,110

Federal Home Loan Mortgage Corp., Pool #SD8220

3.00%		06/01/52		9,891,352		8,686,493

Federal Home Loan Mortgage Corp., Pool #G60238

3.50%		10/01/45		2,410,072		2,251,699

Federal Home Loan Mortgage Corp., Pool #G60440

3.50%		03/01/46		17,270,831		16,135,829

Federal Home Loan Mortgage Corp., Pool #G67709

3.50%		03/01/48		5,392,793		5,007,443

Federal Home Loan Mortgage Corp., Pool #ZT1491

3.50%		11/01/48		6,010,319		5,570,117

Federal Home Loan Mortgage Corp., Pool #SD7513

3.50%		04/01/50		10,647,577		9,857,825

Federal Home Loan Mortgage Corp., Pool #G67717

4.00%		11/01/48		19,834,849		18,960,957

Federal Home Loan Mortgage Corp., Pool #SD8244

4.00%		09/01/52		21,763,657		20,509,122

Federal Home Loan Mortgage Corp., Pool #SL1033

4.00%		01/01/54		3,890,097		3,661,970

Federal Home Loan Mortgage Corp., Pool #G08848

4.50%		11/01/48		1,090,694		1,069,391

Federal Home Loan Mortgage Corp., Pool #SD8238

4.50%		08/01/52		5,044,770		4,884,629

Federal Home Loan Mortgage Corp., Pool #SD8245

4.50%		09/01/52		15,157,152		14,685,140

Federal Home Loan Mortgage Corp., Pool #QG0601

4.50%		04/01/53		15,927,011		15,407,895

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp., Pool #G01959

5.00%		12/01/35	$	31,446	$	31,822

Federal Home Loan Mortgage Corp., Pool #P51350

5.00%		03/01/36		819,879		829,003

Federal Home Loan Mortgage Corp., Pool #A91162

5.00%		02/01/40		6,149,802		6,233,288

Federal Home Loan Mortgage Corp., Pool #A92195

5.00%		05/01/40		1,741,875		1,778,222

Federal Home Loan Mortgage Corp., Pool #G08833

5.00%		07/01/48		1,629,357		1,639,381

Federal Home Loan Mortgage Corp., Pool #G08840

5.00%		08/01/48		265,495		267,129

Federal Home Loan Mortgage Corp., Pool #G08849

5.00%		11/01/48		1,871,373		1,882,886

Federal Home Loan Mortgage Corp., Pool #N70081

5.50%		07/01/38		939,928		968,404

Federal Home Loan Mortgage Corp. REMICS Series 2647, Class OV (P/O)

0.00%⁽²⁾		07/15/33		325,689		272,701

Federal Home Loan Mortgage Corp. REMICS Series 3149, Class OD (P/O) (PAC)

0.00%⁽²⁾		05/15/36		1,444,814		1,205,817

Federal Home Loan Mortgage Corp. REMICS Series 3315, Class S (I/O) (I/F)

2.66% (-30 day USD SOFR Average + 6.296%)⁽⁴⁾		05/15/37		133,928		7,346

Federal Home Loan Mortgage Corp. REMICS Series 3376, Class SX (I/O) (I/F)

2.29% (-30 day USD SOFR Average + 5.926%)⁽⁴⁾		10/15/37		861,341		67,142

Federal Home Loan Mortgage Corp. REMICS Series 3410, Class IS (I/O) (I/F)

2.52% (-30 day USD SOFR Average + 6.156%)⁽⁴⁾		02/15/38		1,281,643		109,086

Federal Home Loan Mortgage Corp. REMICS Series 3424, Class BI (I/O) (I/F)

3.05% (-30 day USD SOFR Average + 6.686%)⁽⁴⁾		04/15/38		1,164,976		114,596

Federal Home Loan Mortgage Corp. REMICS Series 3519, Class SH (I/O) (I/F)

1.75% (-30 day USD SOFR Average + 5.386%)⁽⁴⁾		07/15/37		104,055		4,433


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp. REMICS Series 3531, Class SC (I/O) (I/F)

2.55% (-30 day USD SOFR Average + 6.186%)⁽⁴⁾		05/15/39	$	1,705,025	$	153,162

Federal Home Loan Mortgage Corp. REMICS Series 3541, Class SA (I/O) (I/F)

3.00% (-30 day USD SOFR Average + 6.636%)⁽⁴⁾		06/15/39		792,856		84,064

Federal Home Loan Mortgage Corp. REMICS Series 3550, Class GS (I/O) (I/F)

3.00% (-30 day USD SOFR Average + 6.636%)⁽⁴⁾		07/15/39		1,670,661		165,480

Federal Home Loan Mortgage Corp. REMICS Series 3788, Class SB (I/O) (I/F)

2.73% (-30 day USD SOFR Average + 6.366%)⁽⁴⁾		01/15/41		2,351,001		221,424

Federal Home Loan Mortgage Corp. REMICS Series 3885 (P/O) (PAC)

0.00%⁽²⁾		11/15/33		455,628		411,465

Federal Home Loan Mortgage Corp. REMICS Series 4030, Class HS (I/O) (I/F)

2.86% (-30 day USD SOFR Average + 6.496%)⁽⁴⁾		04/15/42		940,847		95,225

Federal Home Loan Mortgage Corp. REMICS Series 4135, Class DZ

3.00%		11/15/42		4,109,474		3,782,169

Federal Home Loan Mortgage Corp. REMICS Series 4351, Class MB (PAC)

4.00%		04/15/44		15,008,252		14,405,656

Federal Home Loan Mortgage Corp. REMICS Series 4604, Class PB (PAC)

3.00%		01/15/46		1,762,613		1,654,636

Federal Home Loan Mortgage Corp. REMICS Series 4772, Class ZA

4.00%		07/15/47		5,981,576		5,657,206

Federal Home Loan Mortgage Corp. REMICS Series 4896, Class DA

3.00%		01/15/49		890,993		804,707

Federal Home Loan Mortgage Corp. REMICS Series 5210, Class LB

3.00%		08/25/50		16,601,979		13,064,584

Federal Home Loan Mortgage Corp. REMICS Series 5224, Class DZ

4.00%		04/25/52		7,414,616		6,856,347

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp. REMICS Series 5492, Class SH (I/O)

2.35% (-30 day USD SOFR Average + 6.000%)⁽⁴⁾		01/25/55	$	7,706,166	$	581,223

Federal Home Loan Mortgage Corp. REMICS Series 5544, Class SD (I/O)

1.40% (-30 day USD SOFR Average + 5.050%)⁽⁴⁾		06/25/55		7,793,278		420,111

Federal Home Loan Mortgage Corp. REMICS Series 5546, Class AS

5.03% (-30 day USD SOFR Average + 10.500%)⁽⁴⁾		06/25/55		2,034,055		1,928,330

Federal Home Loan Mortgage Corp. REMICS Series 5547, Class S

5.11% (-30 day USD SOFR Average + 10.575%)⁽⁴⁾		06/25/55		2,119,882		1,962,824

Federal Home Loan Mortgage Corp. REMICS Series 5548, Class S

5.59% (-30 day USD SOFR Average + 11.667%)⁽⁴⁾		06/25/55		1,982,433		1,902,300

Federal Home Loan Mortgage Corp. REMICS Series 5549, Class JS

5.03% (-30 day USD SOFR Average + 10.500%)⁽⁴⁾		06/25/55		2,000,025		1,899,349

Federal Home Loan Mortgage Corp. REMICS Series 5566, Class AS (I/F)

5.11% (-30 day USD SOFR Average + 10.575%)⁽⁴⁾		08/25/55		4,795,308		4,451,414

Federal Home Loan Mortgage Corp. REMICS Series 5578, Class SD (I/O)

2.25% (-30 day USD SOFR Average + 5.900%)⁽⁴⁾		09/25/55		7,020,104		651,491

Federal Home Loan Mortgage Corp. STRIPS Series 277, Class 30

3.00%		09/15/42		6,855,161		6,302,198

Federal Home Loan Mortgage Corp. STRIPS Series 377, Class C1

2.00%		01/25/51		79,569,998		10,576,643

Federal Home Loan Mortgage Corp. STRIPS Series 386, Class C2 (I/O)

2.00%		02/15/51		122,508,373		16,651,165


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal Home Loan Mortgage Corp. STRIPS Series 389, Class C40 (I/O)

2.50%		10/15/52	$	4,372,421	$	678,720

Federal Home Loan Mortgage Corp. STRIPS Series 390, Class C12 (I/O)

4.00%		11/15/52		7,844,294		1,760,479

Federal Home Loan Mortgage Corp. STRIPS Series 400, Class C2 (I/O)

2.00%		08/25/52		64,701,446		8,782,660

Federal National Mortgage Association, Pool #MA4152

2.00%		10/01/40		8,550,532		7,514,427

Federal National Mortgage Association, Pool #BQ6913

2.00%		12/01/51		17,866,845		14,396,150

Federal National Mortgage Association, Pool #BV4128

2.00%		03/01/52		7,848,337		6,320,004

Federal National Mortgage Association, Pool #CB3151

2.00%		03/01/52		35,869,848		28,885,815

Federal National Mortgage Association, Pool #CB0610

2.50%		05/01/51		13,333,640		11,365,713

Federal National Mortgage Association, Pool #BU7102

2.50%		12/01/51		9,276,410		7,834,118

Federal National Mortgage Association, Pool #FS0139

2.50%		01/01/52		22,434,475		19,097,193

Federal National Mortgage Association, Pool #BV7761

2.50%		03/01/52		11,120,256		9,394,731

Federal National Mortgage Association, Pool #AB6210

3.00%		09/01/42		13,792,651		12,649,623

Federal National Mortgage Association, Pool #MA4579

3.00%		04/01/52		17,941,916		15,778,346

Federal National Mortgage Association, Pool #BM5979

3.50%		09/01/45		4,597,033		4,330,976

Federal National Mortgage Association, Pool #AS7241

3.50%		05/01/46		4,596,863		4,271,935

Federal National Mortgage Association, Pool #FM2342

3.50%		12/01/46		2,757,856		2,598,243

Federal National Mortgage Association, Pool #AS9454

4.00%		04/01/47		517,115		492,222

Federal National Mortgage Association, Pool #MA2995

4.00%		05/01/47		2,349,415		2,236,428

Federal National Mortgage Association, Pool #CA1540

4.00%		04/01/48		8,168,192		7,799,268

Federal National Mortgage Association, Pool #MA4626

4.00%		06/01/52		3,068,327		2,892,170

Federal National Mortgage Association, Pool #MA4804

4.00%		11/01/52		3,920,797		3,694,181

Federal National Mortgage Association, Pool #CA1710

4.50%		05/01/48		3,786,504		3,708,136

Federal National Mortgage Association, Pool #CA1711

4.50%		05/01/48		3,598,705		3,524,224

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association, Pool #CA2208

4.50%		08/01/48	$	3,741,373	$	3,663,939

Federal National Mortgage Association, Pool #MA4784

4.50%		10/01/52		5,199,866		5,033,836

Federal National Mortgage Association, Pool #MA4805

4.50% ⁽¹⁰⁾		11/01/52		5,280,021		5,110,943

Federal National Mortgage Association, Pool #MA5037

4.50%		06/01/53		3,244,922		3,135,783

Federal National Mortgage Association, Pool #FA0658

4.50%		10/01/54		3,929,805		3,799,288

Federal National Mortgage Association, Pool #934103

5.00%		07/01/38		102,062		103,286

Federal National Mortgage Association, Pool #BX6752

5.00%		03/01/53		4,297,716		4,264,783

Federal National Mortgage Association, Pool #MA5009

5.00%		05/01/53		6,894,330		6,825,246

Federal National Mortgage Association, Pool #MA5071

5.00%		07/01/53		2,413,300		2,390,640

Federal National Mortgage Association, Pool #555424

5.50%		05/01/33		710,027		726,255

Federal National Mortgage Association, Pool #734384

5.50%		07/01/33		88,761		90,784

Federal National Mortgage Association, Pool #AA3303

5.50%		06/01/38		1,039,716		1,069,943

Federal National Mortgage Association, Pool #MA5072

5.50%		07/01/53		14,682,991		14,836,189

Federal National Mortgage Association, Pool #MA5107

5.50%		08/01/53		12,060,687		12,168,209

Federal National Mortgage Association, Pool #310033

6.00%		07/01/47		323,312		338,383

Federal National Mortgage Association, Pool #995573

6.00%		01/01/49		814,558		853,843

Federal National Mortgage Association, Pool #MA5761

6.00%		07/01/55		4,185,086		4,270,579

Federal National Mortgage Association REMICS Series 2004-52, Class SW (I/O) (I/F)

3.34% (-30 day USD SOFR Average + 6.986%)⁽⁴⁾		07/25/34		173,926		13,690

Federal National Mortgage Association REMICS Series 2007-103, Class AI (I/O) (I/F)

2.74% (-30 day USD SOFR Average + 6.386%)⁽⁴⁾		03/25/37		1,740,653		133,455

Federal National Mortgage Association REMICS Series 2007-20, Class SI (I/O) (I/F)

2.69% (-30 day USD SOFR Average + 6.336%)⁽⁴⁾		03/25/37		373,387		20,222

Issues

Maturity
Date

Principal
Amount

Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES —
AGENCY (Continued)

Federal National Mortgage Association REMICS Series 2007-21, Class SE (I/O) (I/F)

2.68% (-30 day USD SOFR Average + 6.326%)⁽⁴⁾

03/25/37

213,374

11,074

Federal National Mortgage Association REMICS Series 2007-56, Class SG (I/O) (I/F)

2.65% (-30 day USD SOFR Average + 6.296%)⁽⁴⁾

06/25/37

391,203

20,029

Federal National Mortgage Association REMICS Series 2007-58, Class SV (I/O) (I/F)

2.99% (-30 day USD SOFR Average + 6.636%)⁽⁴⁾

06/25/37

1,600,038

159,566

Federal National Mortgage Association REMICS Series 2007-65, Class S (I/O) (I/F)

2.84% (-30 day USD SOFR Average + 6.486%)⁽⁴⁾

07/25/37

194,373

14,244

Federal National Mortgage Association REMICS Series 2008-1, Class AI (I/O) (I/F)

2.49% (-30 day USD SOFR Average + 6.136%)⁽⁴⁾

05/25/37

1,453,890

99,872

Federal National Mortgage Association REMICS Series 2008-13, Class SB (I/O) (I/F)

2.48% (-30 day USD SOFR Average + 6.126%)⁽⁴⁾

03/25/38

1,558,653

103,040

Federal National Mortgage Association REMICS Series 2008-23, Class SB (I/O) (I/F)

3.09% (-30 day USD SOFR Average + 6.736%)⁽⁴⁾

04/25/38

881,857

27,280

Federal National Mortgage Association REMICS Series 2008-35, Class SD (I/O) (I/F)

2.69% (-30 day USD SOFR Average + 6.336%)⁽⁴⁾

05/25/38

186,571

3,755

Federal National Mortgage Association REMICS Series 2008-66, Class SG (I/O) (I/F)

2.31% (-30 day USD SOFR Average + 5.956%)⁽⁴⁾

08/25/38

3,330,792

258,133

Federal National Mortgage Association REMICS Series 2008-68, Class SA (I/O) (I/F)

2.21% (-30 day USD SOFR Average + 5.856%)⁽⁴⁾

08/25/38

1,043,853

58,986

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association REMICS Series 2009-3, Class SH (I/O) (I/F)

1.69% (-30 day USD SOFR Average + 5.336%)⁽⁴⁾		06/25/37	$	391,763	$	21,560

Federal National Mortgage Association REMICS Series 2009-47, Class SV (I/O) (I/F)

2.99% (-30 day USD SOFR Average + 6.636%)⁽⁴⁾		07/25/39		202,774		20,320

Federal National Mortgage Association REMICS Series 2009-51, Class SA (I/O) (I/F)

2.99% (-30 day USD SOFR Average + 6.636%)⁽⁴⁾		07/25/39		1,072,734		105,731

Federal National Mortgage Association REMICS Series 2009-6, Class SD (I/O) (I/F)

1.79% (-30 day USD SOFR Average + 5.436%)⁽⁴⁾		02/25/39		287,644		3,091

Federal National Mortgage Association REMICS Series 2009-72, Class JS (I/O) (I/F)

3.49% (-30 day USD SOFR Average + 7.136%)⁽⁴⁾		09/25/39		172,695		17,075

Federal National Mortgage Association REMICS Series 2011-131, Class ST (I/O)

2.78% (-30 day USD SOFR Average + 6.426%)⁽⁴⁾		12/25/41		9,431,476		1,016,779

Federal National Mortgage Association REMICS Series 2011-149, Class Z

4.50%		01/25/42		2,110,076		2,107,253

Federal National Mortgage Association REMICS Series 2012-128, Class UY (PAC)

2.50%		11/25/42		11,738,000		10,547,660

Federal National Mortgage Association REMICS Series 2012-19, Class ZN

3.50%		01/25/42		2,957,706		2,755,507

Federal National Mortgage Association REMICS Series 2012-34, Class EB

4.00%		04/25/42		2,000,000		1,905,036

Federal National Mortgage Association REMICS Series 2013-101, Class BO (P/O)

0.00%⁽²⁾		10/25/43		2,266,734		1,623,624

Federal National Mortgage Association REMICS Series 2013-101, Class CO (P/O)

0.00%⁽²⁾		10/25/43		5,100,437		3,669,128

Federal National Mortgage Association REMICS Series 2015-65, Class LZ

3.50%		09/25/45		1,742,135		1,534,009


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Federal National Mortgage Association REMICS Series 2018-52, Class PZ (PAC)

4.00%		07/25/48	$	1,141,207	$	1,076,084

Federal National Mortgage Association REMICS Series 2018-54, Class KY (PAC)

3.50%		08/25/48		1,550,000		1,421,823

Federal National Mortgage Association REMICS Series 2019-57, Class LT

2.50%		10/25/49		5,535,659		4,743,466

Federal National Mortgage Association REMICS Series 2023-39, Class AI (I/O)

2.00%		07/25/52		123,759,224		16,338,811

Federal National Mortgage Association REMICS Series 2024-81, Class SE (I/O)

1.70% (-30 day USD SOFR Average + 5.350%)⁽⁴⁾		07/25/54		38,713,933		1,925,953

Federal National Mortgage Association REMICS Series 2025-104, Class SB (I/O)

1.90% (-30 day USD SOFR Average + 5.550%)⁽⁴⁾		12/25/55		13,532,645		1,140,942

Federal National Mortgage Association REMICS Series 2025-40, Class S (I/F)

5.59% (-30 day USD SOFR Average + 11.667%)⁽⁴⁾		02/25/55		1,969,166		1,861,317

Federal National Mortgage Association REMICS Series 2025-49, Class SC (I/O)

1.55% (-30 day USD SOFR Average + 5.200%)⁽⁴⁾		06/25/55		29,879,766		1,384,208

Federal National Mortgage Association REMICS Series 2025-63, Class S (I/F)

5.03% (-30 day USD SOFR Average + 10.500%)⁽⁴⁾		08/25/55		4,657,948		4,316,873

Federal National Mortgage Association REMICS Series 2026-25, Class FB

4.65% (30 day USD SOFR Average + 1.000%)⁽⁴⁾		04/25/56		9,030,870		9,003,032

Government National Mortgage Association, Pool #MA7418

2.50%		06/20/51		15,829,772		13,569,845

Government National Mortgage Association, Pool #MA7589

2.50%		09/20/51		13,126,859		11,252,811

Government National Mortgage Association, Pool #MA7987

2.50%		04/20/52		2,764,567		2,369,924

Government National Mortgage Association, Pool #MA6080

3.00%		08/20/49		157,068		137,837

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Government National Mortgage Association, Pool #MA6209

3.00%		10/20/49	$	2,207,713	$	1,937,411

Government National Mortgage Association, Pool #MA8346

4.00%		10/20/52		4,584,851		4,326,424

Government National Mortgage Association, Pool #MA8426

4.00%		11/20/52		7,217,229		6,810,426

Government National Mortgage Association, Pool #MA8488

4.00%		12/20/52		13,608,116		12,841,087

Government National Mortgage Association, Pool #MA8347

4.50%		10/20/52		8,264,095		8,047,068

Government National Mortgage Association, Pool #MA9488

5.50%		02/20/54		15,197,395		15,420,955

Government National Mortgage Association REMICS Series 2011-70, Class BO (P/O)

0.00%⁽²⁾		05/20/41		2,642,534		2,022,992

Government National Mortgage Association REMICS Series 2015-162, Class ZG

4.00%		11/20/45		4,330,604		4,106,955

Government National Mortgage Association REMICS Series 2015-42, Class ZB

3.00%		03/20/45		17,922,092		16,215,881

Government National Mortgage Association REMICS Series 2015-43, Class DM

2.50%		03/20/45		13,471,523		11,965,331

Government National Mortgage Association REMICS Series 2015-44, Class Z

3.00%		03/20/45		15,048,967		13,469,312

Government National Mortgage Association REMICS Series 2015-92, Class MT

3.00%		01/20/45		3,760,000		3,319,032

Government National Mortgage Association REMICS Series 2016-51, Class DZ

3.00%		04/20/46		12,265,169		10,597,450

Government National Mortgage Association REMICS Series 2017-116, Class ZL

3.00%		06/20/47		10,931,312		8,777,690

Government National Mortgage Association REMICS Series 2017-117, Class ZN

3.00%		08/20/47		1,195,026		994,855

Government National Mortgage Association REMICS Series 2017-14, Class Z

3.00%		01/20/47		1,649,211		1,364,081

Government National Mortgage Association REMICS Series 2017-57, Class Z

4.00%		04/20/47		5,759,968		5,058,102

Government National Mortgage Association REMICS Series 2018-113, Class GZ

3.00%		05/20/47		9,634,919		8,627,672


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Government National Mortgage Association REMICS Series 2018-153, Class ZG

3.50%		11/20/48	$	5,280,893	$	4,832,122

Government National Mortgage Association REMICS Series 2018-77, Class JY

3.50%		06/20/48		1,996,184		1,837,935

Government National Mortgage Association REMICS Series 2018-97, Class DZ

3.50%		07/20/48		3,028,607		2,738,917

Government National Mortgage Association REMICS Series 2022-H14

0.65%⁽³⁾		07/20/72		27,006,870		1,620,412

Government National Mortgage Association REMICS Series 2024-159, Class XS (I/O)

1.86% (-30 day USD SOFR Average + 5.500%)⁽⁴⁾		10/20/54		26,094,127		1,868,890

Government National Mortgage Association REMICS Series 2025-41, Class HS

1.70% (-30 day USD SOFR Average + 5.340%)⁽⁴⁾		03/20/55		22,718,968		1,270,639

Government National Mortgage Association REMICS Series 2025-45, Class ST (I/O)

1.66% (-30 day USD SOFR Average + 5.300%)⁽⁴⁾		03/20/55		12,798,017		647,110

Government National Mortgage Association REMICS Series 2025-H24, Class BI (I/O)

0.82%⁽³⁾		12/20/75		10,069,009		904,091

Government National Mortgage Association REMICS Series 2026-H03, Class CI (I/O)

0.69%⁽³⁾		01/20/76		13,726,351		1,221,426

Government National Mortgage Association REMICS Series 2026-H05, Class JI (I/O)

0.80%⁽³⁾		02/20/76		39,278,324		3,543,065

Government National Mortgage Association REMICS Series 2026-H06, Class AI (I/O)

0.48%⁽³⁾		02/20/76		15,800,432		1,061,864

Government National Mortgage Association REMICS Series 2026-H06, Class BI (I/O)

0.77%⁽³⁾		01/20/76		15,498,715		1,391,150

Government National Mortgage Association REMICS Series 2026-H08, Class AI (I/O)

0.71%⁽³⁾		03/20/76		30,869,152		2,686,662

Government National Mortgage Association, TBA

2.00%⁽¹¹⁾		11/01/51		13,675,000		11,267,318

2.50%⁽¹¹⁾		11/01/51		26,750,000		22,916,671

3.50%⁽¹¹⁾		08/01/55		56,675,000		51,197,985

4.00%⁽¹¹⁾		07/01/55		24,425,000		22,769,083

4.50%⁽¹¹⁾		02/01/56		22,575,000		21,762,323

5.00%⁽¹¹⁾		02/01/56		11,400,000		11,304,462

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — AGENCY (Continued)

Uniform Mortgage-Backed Security, TBA

2.00%⁽¹¹⁾		10/01/51	$	54,200,000	$	43,398,157

2.50%⁽¹¹⁾		10/01/51		13,550,000		11,352,461

3.00%⁽¹¹⁾		12/01/51		26,400,000		23,120,011

3.50%⁽¹¹⁾		01/01/52		45,575,000		41,510,735

4.00%⁽¹¹⁾		06/01/55		19,350,000		18,153,677

4.50%⁽¹¹⁾		02/01/56		10,475,000		10,079,799

5.00%⁽¹¹⁾		02/01/56		42,225,000		41,612,273

5.50%⁽¹¹⁾		01/01/56		26,125,000		26,262,809


Total Residential Mortgage-Backed Securities — Agency

(Cost: $1,156,401,441)						1,130,010,331


COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY — 14.2%

1301 Trust Series 2025-1301, Class F

8.37%^(1),(3)		08/11/42		3,340,000		3,248,496

245 Park Avenue Trust Series 2017-245P, Class D

3.78%^(1),(3)		06/05/37		2,050,000		2,007,955

280 Park Avenue Mortgage Trust Series 2017-280P, Class E

6.08% (1 mo. USD Term SOFR + 2.419%)^(1),(4)		09/15/34		1,820,000		1,798,160

ACRE Multifamily Housing Mortgage Loan Trust Series 2022-Q018, Class B

7.64% (30 day USD SOFR Average + 4.000%)^(1),(4)		06/25/27		4,320,149		4,304,116

Arbor Realty Commercial Real Estate Notes Ltd. Series 2021-FL4, Class AS

5.47% (1 mo. USD Term SOFR + 1.814%)^(1),(4)		11/15/36		11,800,000		11,801,436

Bank Series 2020-BN25, Class C

3.46%⁽³⁾		01/15/63		4,055,000		3,500,296

BBCMS Mortgage Trust Series 2024-5C25, Class B

6.15%⁽³⁾		03/15/57		5,625,000		5,732,878

BBCMS Mortgage Trust Series 2024-5C27, Class B

6.70%⁽³⁾		07/15/57		4,565,000		4,730,074

Benchmark Mortgage Trust Series 2019-B13, Class AM

3.18%		08/15/57		5,000,000		4,675,705

Benchmark Mortgage Trust Series 2019-B14, Class 225C

3.40%^(1),(3)		12/15/62		8,734,000		251,827

Benchmark Mortgage Trust Series 2019-B14, Class 225D

3.40%^(1),(3)		12/15/62		20,303,000		151,562

BGME Trust Series 2021-VR, Class C

3.09%^(1),(3)		01/10/43		2,450,000		1,887,236

BMO Mortgage Trust Series 2024-5C6, Class AS

5.75%⁽³⁾		09/15/57		2,330,000		2,357,999

Issues

Maturity
Date

Principal
Amount

Value

COMMERCIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY (Continued)

BPR Trust Series 2021-WILL, Class A

5.52% (1 mo. USD Term SOFR + 1.864%)^(1),(4)

06/15/38

4,207,570

4,206,265

BPR Trust Series 2024-PMDW, Class D

5.85%^(1),(3)

11/05/41

3,980,000

3,969,263

BX Commercial Mortgage Trust Series 2025-BCAT, Class D

6.30% (1 mo. USD Term SOFR + 2.650%)^(1),(4)

08/15/42

3,771,454

3,792,130

BX Trust Series 2019-OC11, Class B

3.61%⁽¹⁾

12/09/41

1,196,000

1,137,681

BX Trust Series 2019-OC11, Class C

3.86%⁽¹⁾

12/09/41

1,080,000

1,029,583

BX Trust Series 2019-OC11, Class E

4.08%^(1),(3)

12/09/41

5,000,000

4,589,402

Caister Finance DAC Series 1A, Class D

7.65% (1 day GBP SONIA + 3.900%)^(1),(4)

08/17/35

GBP

2,000,000

2,720,680

CAMB Commercial Mortgage Trust Series 2021-CX2, Class C

2.86%^(1),(3)

11/10/46

5,000,000

4,079,004

CHI Commercial Mortgage Trust Series 2025-SFT, Class D

7.57%^(1),(3)

04/15/42

4,500,000

4,585,838

Citigroup Commercial Mortgage Trust Series 2020-555, Class A

2.65%⁽¹⁾

12/10/41

9,400,000

8,522,547

COMM Mortgage Trust Series 2020-CX, Class B

2.45%⁽¹⁾

11/10/46

6,000,000

4,985,102

CoreVest American Finance Trust Series 2020-1, Class XA (I/O)

2.41%^(1),(3)

03/15/50

6,738,668

199,299

CoreVest American Finance Trust Series 2020-1, Class XB (I/O)

2.10% ^(1),(3)

03/15/50

38,948,500

2,377,872

CoreVest American Finance Trust Series 2020-4, Class XB (I/O)

2.45%^(1),(3)

12/15/52

18,377,457

833,839

CoreVest American Finance Trust Series 2021-1, Class XA (I/O)

2.88%^(1),(3)

04/15/53

14,454,810

196,046

CSMC Trust Series 2021-B33, Class A2

3.17%⁽¹⁾

10/10/43

5,140,000

4,613,176

DBGS Mortgage Trust Series 2018-C1, Class AM

4.75%⁽³⁾

10/15/51

5,136,000

5,042,541

DBMS DAC Series 2025-1A, Class D

6.40% (1 day GBP SONIA + 2.650%)^(1),(4)

02/18/36

GBP

2,900,000

3,948,950

DOLP Trust Series 2021-NYC, Class A

2.96%⁽¹⁾

05/10/41

8,675,000

7,812,716

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

COMMERCIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Extended Stay America Trust Series 2025-ESH, Class D

6.25% (1 mo. USD Term SOFR + 2.600%)^(1),(4)		10/15/42	$	5,186,473	$	5,219,870

Extended Stay America Trust Series 2026-ESH2, Class D

5.90% (1 mo. USD Term SOFR + 2.250%)^(1),(4)		02/15/43		2,515,247		2,530,289

FirstKey Homes Trust Series 2021-SFR3, Class E1

2.99%⁽¹⁾		12/17/38		5,500,000		5,415,649

FirstKey Homes Trust Series 2022-SFR3, Class E1

3.50%⁽¹⁾		07/17/38		8,950,000		8,904,326

JPMorgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class A

3.40%⁽¹⁾		06/05/39		6,865,000		6,495,347

Life Mortgage Trust Series 2021-BMR, Class G

6.72% (1 mo. USD Term SOFR + 3.064%)^(1),(4)		03/15/38		1,400,000		1,236,016

MAD Commercial Mortgage Trust Series 2025-11MD, Class D

6.57%^(1),(3)		10/15/42		5,100,000		5,165,402

MKT Mortgage Trust Series 2020-525M, Class C

3.04%^(1),(3)		02/12/40		2,900,000		2,443,149

MKT Mortgage Trust Series 2020-525M, Class D

3.04%^(1),(3)		02/12/40		2,200,000		1,807,585

Morgan Stanley Capital I Trust Series 2019-H7, Class C

4.13%		07/15/52		4,000,000		3,651,291

Morgan Stanley Capital I Trust Series 2020-CNP, Class A

2.51%^(1),(3)		04/05/42		10,000,000		8,907,456

Morgan Stanley Capital I Trust Series 2020-CNP, Class C

2.51%^(1),(3)		04/05/42		3,045,000		2,567,803

NY Commercial Mortgage Trust Series 2025-299P, Class B

6.13%^(1),(3)		02/10/47		5,885,000		6,059,145

NYC Commercial Mortgage Trust Series 2026-1PARK, Class C

5.51% (1 mo. USD Term SOFR + 1.850%)^(1),(4)		02/15/43		2,750,000		2,765,388

Progress Residential Trust Series 2021-SFR11, Class F

4.42%⁽¹⁾		01/17/39		2,874,000		2,793,273

Progress Residential Trust Series 2021-SFR3, Class G

4.25%⁽¹⁾		05/17/26		3,400,000		3,391,542

Progress Residential Trust Series 2021-SFR7, Class F

3.83%⁽¹⁾		08/17/40		8,970,000		8,483,329

Progress Residential Trust Series 2024-SFR5, Class D

3.38%^(1),(3)		08/17/41		4,621,000		4,306,088

RIDE Series 2025-SHRE, Class D

6.97%^(1),(3)		02/14/47		2,500,000		2,531,603

ROCK Trust Series 2024-CNTR, Class E

8.82%⁽¹⁾		11/13/41		4,000,000		4,196,093

Issues

Maturity
Date

Principal
Amount

Value

COMMERCIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY (Continued)

SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A2A

3.66%^(1),(3)

01/05/43

6,550,000

5,749,836

SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE, Class A2B

4.14%^(1),(3)

01/05/43

1,370,000

1,202,441

SLG Office Trust Series 2021-OVA, Class D

2.85%⁽¹⁾

07/15/41

1,285,000

1,122,404

SLG Office Trust Series 2021-OVA, Class E

2.85%⁽¹⁾

07/15/41

4,800,000

4,145,067

SLG Office Trust Series 2021-OVA, Class G

2.85%⁽¹⁾

07/15/41

11,460,000

9,213,091

Tricon Residential Trust Series 2021-SFR1, Class F

3.69%⁽¹⁾

07/17/38

3,200,000

3,183,085

Wells Fargo Commercial Mortgage Trust Series 2016-NXS6, Class XB

0.62%⁽³⁾

11/15/49

106,409,000

56,971

Wells Fargo Commercial Mortgage Trust Series 2024-SVEN, Class B

6.47%^(1),(3)

06/10/37

4,632,000

4,732,350

Total Commercial Mortgage-Backed
Securities — Non-Agency

(Cost: $266,500,751)

233,365,563

COMMERCIAL MORTGAGE-BACKED SECURITIES —
AGENCY — 0.2%

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K042, Class X3 (I/O)

4.30%⁽³⁾

01/25/43

1,845,086

190

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K045, Class X3 (I/O)

3.06%⁽³⁾

04/25/43

733,326

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K046, Class X3 (I/O)

3.51%⁽³⁾

04/25/43

3,583,633

298

FREMF Mortgage Trust Series 2017-KW03, Class C

0.00%^(1),(2)

08/25/27

4,500,000

4,034,048

Total Commercial Mortgage-Backed Securities — Agency

(Cost: $4,155,942)

4,034,589

RESIDENTIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY — 22.3%

ABFC Trust Series 2007-WMC1, Class A2A

4.52% (1 mo. USD Term SOFR + 0.864%)⁽⁴⁾

06/25/37

8,054,957

6,927,310

ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP1, Class A2C

4.29% (1 mo. USD Term SOFR + 0.634%)⁽⁴⁾

03/25/37

9,881,700

4,033,645

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

ACE Securities Corp. Home Equity Loan Trust Series 2007-ASP1, Class A2D

4.53% (1 mo. USD Term SOFR + 0.874%)⁽⁴⁾		03/25/37	$	5,311,309	$	2,167,930

Argent Securities Trust Series 2006-W4, Class A2C

4.09% (1 mo. USD Term SOFR + 0.434%)⁽⁴⁾		05/25/36		15,873,756		3,746,322

Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-W3, Class M2

4.46% (1 mo. USD Term SOFR + 0.804%)⁽⁴⁾		11/25/35		7,603,398		6,833,034

Banc of America Funding Trust Series 2004-B, Class 3A1

4.42%⁽³⁾		12/20/34		126,751		103,222

Banc of America Funding Trust Series 2006-3, Class 4A14

6.00%		03/25/36		135,170		116,274

Banc of America Funding Trust Series 2006-3, Class 5A3

5.50%		03/25/36		843,007		772,192

Banc of America Funding Trust Series 2006-D, Class 2A1

3.50%⁽³⁾		05/20/36		37,646		35,598

Banc of America Funding Trust Series 2006-D, Class 3A1

4.81%⁽³⁾		05/20/36		1,049,981		959,209

Bear Stearns ALT-A Trust Series 2005-2, Class 2A4

3.74%⁽³⁾		04/25/35		677		621

Bear Stearns ALT-A Trust Series 2005-4, Class 23A1

5.09%⁽³⁾		05/25/35		997,823		965,518

Bear Stearns ALT-A Trust Series 2006-4, Class 32A1

4.09%⁽³⁾		07/25/36		274,853		110,798

Bear Stearns ARM Trust Series 2004-12, Class 1A1

5.22% ⁽³⁾		02/25/35		157,786		150,064

Bear Stearns ARM Trust Series 2005-10, Class A3

5.86%⁽³⁾		10/25/35		868,000		868,492

Bear Stearns ARM Trust Series 2006-2, Class 2A1

4.20%⁽³⁾		07/25/36		485,394		419,425

Bear Stearns ARM Trust Series 2007-1, Class 2A1

5.31%⁽³⁾		02/25/47		78,663		68,613

Bear Stearns Asset-Backed Securities I Trust Series 2005-AC6, Class 1A3

5.50%⁽³⁾		09/25/35		553,605		529,445

Bear Stearns Asset-Backed Securities I Trust Series 2005-AC6, Class 1A4

5.40%⁽³⁾		09/25/35		1,183,702		1,132,136

Bear Stearns Mortgage Funding Trust Series 2006-AR1, Class 2A1

4.21% (1 mo. USD Term SOFR + 0.554%)⁽⁴⁾		08/25/36		7,019,820		6,745,427


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Bear Stearns Mortgage Funding Trust Series 2006-AR3, Class 1A1

4.13% (1 mo. USD Term SOFR + 0.474%)⁽⁴⁾		10/25/36	$	210,283	$	188,606

Braccan Mortgage Funding PLC Series 2025-1A, Class X

7.68% (1 day GBP SONIA + 3.930%)^(1),(4)		05/17/67	GBP	1,238,478		1,689,061

C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2B

3.45%		02/25/37		1,871,164		1,061,262

C-BASS Mortgage Loan Trust Series 2007-CB2, Class A2C

3.45%		02/25/37		6,436,445		3,650,538

C-BASS Trust Series 2006-CB9, Class A4

4.23% (1 mo. USD Term SOFR + 0.574%)⁽⁴⁾		11/25/36		10,612,683		4,904,492

Chase Mortgage Finance Trust Series 2006-A1, Class 2A1

5.16%⁽³⁾		09/25/36		226,493		201,692

Chase Mortgage Finance Trust Series 2007-A1, Class 8A1

6.05%⁽³⁾		02/25/37		757,120		747,868

ChaseFlex Trust Series 2005-1, Class 1A5

6.50%		02/25/35		1,958,086		1,271,574

CHL Mortgage Pass-Through Trust Series 2005-HYB5, Class 4A1

4.68%⁽³⁾		09/20/35		6,943		6,117

CHL Mortgage Pass-Through Trust Series 2007-HY5, Class 1A1

5.03%⁽³⁾		09/25/47		3,135		2,463

CHL Mortgage Pass-Through Trust Series 2007-HYB1, Class 1A1

3.68%⁽³⁾		03/25/37		23,638		19,986

CIM Trust Series 2020-R1, Class A1

2.85%^(1),(3)		10/27/59		13,720,234		12,702,267

CIM Trust Series 2020-R6, Class A1A

2.25%^(1),(3)		12/25/60		7,544,370		6,925,546

CIM Trust Series 2020-R7, Class A1A

2.25%^(1),(3)		12/27/61		11,682,477		10,809,025

CIM Trust Series 2021-R3, Class A1A

1.95%^(1),(3)		06/25/57		7,677,168		7,159,377

Citigroup Mortgage Loan Trust, Inc. Series 2006-AR5, Class 1A1A

5.51%⁽³⁾		07/25/36		1,264,770		891,029

Citigroup Mortgage Loan Trust, Inc. Series 2007-12, Class 2A1

6.50%^(1),(3)		10/25/36		2,110,711		1,012,104

CitiMortgage Alternative Loan Trust Series 2007-A5, Class 1A6

6.00%		05/25/37		5,903,477		5,512,579

Conseco Finance Corp. Series 1999-2, Class A7

6.44%		12/01/30		8,897		8,904

Conseco Finance Securitizations Corp. Series 2000-4, Class A5

7.97%		05/01/32		45,277,023		5,114,787

Countrywide Alternative Loan Trust Series 2005-84, Class 1A1

4.87%⁽³⁾		02/25/36		64,805		56,408

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Countrywide Alternative Loan Trust Series 2007-19, Class 1A34

6.00%		08/25/37	$	10,911,238	$	5,257,220

Credit Suisse First Boston Mortgage Securities Corp. Series 2005-12, Class 1A1

6.50%		01/25/36		6,004,288		1,252,223

Cross Mortgage Trust Series 2024-H8, Class B1B

7.34%^(1),(3)		12/25/69		3,226,000		3,218,468

CSMC Mortgage-Backed Trust Series 2006-8, Class 3A1

6.00%		10/25/21		606,329		109,915

CSMC Trust Series 2021-NQM5, Class A1

0.94%^(1),(3)		05/25/66		3,245,864		2,687,643

CSMC Trust Series 2021-RP11, Class A1 (I/O)

1.46%^(1),(3)		10/25/61		9,294,784		488,726

CSMC Trust Series 2021-RP11, Class B1

3.71%^(1),(3)		10/25/61		2,319,517		1,167,180

CSMC Trust Series 2022-RPL1, Class A1 (I/O)

0.39%^(1),(3)		04/25/61		8,074,798		81,851

CSMC Trust Series 2022-RPL1, Class B1

4.54%^(1),(3)		04/25/61		2,073,947		1,231,001

CSMCM Trust Series 2021-RP11, Class CERT

3.78%⁽¹⁾		10/27/61		461,448		359,383

CSMCM Trust Series 2022-RPL1, Class CERT

4.23%⁽¹⁾		04/25/61		428,625		358,112

Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2006-AR6, Class A6

4.15% (1 mo. USD Term SOFR + 0.494%)⁽⁴⁾		02/25/37		116,515		104,389

DSLA Mortgage Loan Trust Series 2005-AR6, Class 2A1A

4.36% (1 mo. USD Term SOFR + 0.694%)⁽⁴⁾		10/19/45		1,320,102		1,238,827

DSLA Mortgage Loan Trust Series 2007-AR1, Class 2A1A

3.92% (1 mo. USD Term SOFR + 0.254%)⁽⁴⁾		03/19/37		3,340,547		2,846,299

Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA6, Class B2

11.15% (30 day USD SOFR Average + 7.500%)^(1),(4)		10/25/41		5,125,000		5,269,084

Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA7, Class B2

11.45% (30 day USD SOFR Average + 7.800%)^(1),(4)		11/25/41		2,376,737		2,458,257

Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA3, Class B2

9.90% (30 day USD SOFR Average + 6.250%)^(1),(4)		09/25/41		3,050,000		3,104,514


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1B2

9.65% (30 day USD SOFR Average + 6.000%)^(1),(4)		10/25/41	$	5,900,000	$	6,023,185

Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R03, Class 1B2

9.15% (30 day USD SOFR Average + 5.500%)^(1),(4)		12/25/41		4,760,000		4,877,845

Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R01, Class 1B2

9.65% (30 day USD SOFR Average + 6.000%)^(1),(4)		12/25/41		3,005,000		3,090,124

Fieldstone Mortgage Investment Trust Series 2007-1, Class 2A2

4.04% (1 mo. USD Term SOFR + 0.384%)⁽⁴⁾		04/25/47		1,950,663		1,453,099

First Franklin Mortgage Loan Trust Series 2006-FF18, Class A2C

4.09% (1 mo. USD Term SOFR + 0.434%)⁽⁴⁾		12/25/37		7,694,225		7,157,089

First Franklin Mortgage Loan Trust Series 2007-FF1, Class A2C

4.05% (1 mo. USD Term SOFR + 0.394%)⁽⁴⁾		01/25/38		2,788,282		1,532,400

First Franklin Mortgage Loan Trust Series 2007-FF1, Class A2D

4.21% (1 mo. USD Term SOFR + 0.554%)⁽⁴⁾		01/25/38		13,647,510		7,497,000

First Franklin Mortgage Loan Trust Series 2007-FF2, Class A1

4.05% (1 mo. USD Term SOFR + 0.394%)⁽⁴⁾		03/25/37		15,912,498		8,510,389

First Franklin Mortgage Loan Trust Series 2007-FF2, Class A2C

4.07% (1 mo. USD Term SOFR + 0.414%)⁽⁴⁾		03/25/37		19,131,122		9,060,329

GSAA Trust Series 2005-7, Class AF5

5.11%		05/25/35		17,540		17,381

GSR Mortgage Loan Trust Series 2004-9, Class 3A1

4.92% ⁽³⁾		08/25/34		493,495		475,645

GSR Mortgage Loan Trust Series 2006-OA1, Class 2A2

4.29% (1 mo. USD Term SOFR + 0.634%)⁽⁴⁾		08/25/46		42,649,434		9,029,414

GSR Mortgage Loan Trust Series 2007-AR2, Class 2A1

4.91% ⁽³⁾		05/25/37		1,452,783		723,540

HSI Asset Loan Obligation Trust Series 2007-2, Class 2A12

6.00%		09/25/37		406,998		281,126

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Impac CMB Trust Series 2005-5, Class A2

4.21% (1 mo. USD Term SOFR + 0.334%)⁽⁴⁾		08/25/35	$	1,329,716	$	1,269,474

Impac Secured Assets Trust Series 2006-3, Class A1

4.11% (1 mo. USD Term SOFR + 0.454%)⁽⁴⁾		11/25/36		2,496,936		2,319,068

IndyMac INDA Mortgage Loan Trust Series 2007-AR7, Class 1A1

3.35% ⁽³⁾		11/25/37		1,111,449		915,394

IndyMac INDX Mortgage Loan Trust Series 2004-AR9, Class 4A

4.81% ⁽³⁾		11/25/34		119,052		114,538

IndyMac INDX Mortgage Loan Trust Series 2005-AR23, Class 2A1

4.31% ⁽³⁾		11/25/35		1,307,474		1,001,028

IndyMac INDX Mortgage Loan Trust Series 2005-AR25, Class 2A1

3.76% ⁽³⁾		12/25/35		981,789		843,831

IndyMac INDX Mortgage Loan Trust Series 2005-AR7, Class 2A1

3.22% ⁽³⁾		06/25/35		704,179		593,697

IndyMac INDX Mortgage Loan Trust Series 2006-AR39, Class A1

4.13% (1 mo. USD Term SOFR + 0.474%)⁽⁴⁾		02/25/37		3,654,531		3,398,638

IndyMac INDX Mortgage Loan Trust Series 2006-AR6, Class 2A1A

4.17% (1 mo. USD Term SOFR + 0.514%)⁽⁴⁾		06/25/46		5,649,720		5,129,499

IndyMac INDX Mortgage Loan Trust Series 2007-AR11, Class 1A1

3.27% ⁽³⁾		06/25/37		9,315		8,475

JPMorgan Alternative Loan Trust Series 2006-A2, Class 5A1

3.99% ⁽³⁾		05/25/36		2,595,293		1,340,742

JPMorgan Alternative Loan Trust Series 2006-A4, Class A8

4.02% ⁽³⁾		09/25/36		100,406		124,767

JPMorgan Mortgage Acquisition Trust Series 2006-CH2, Class AF4

6.26%		10/25/36		3,165,421		1,857,151

JPMorgan Mortgage Acquisition Trust Series 2006-WMC4, Class A3

4.01% (1 mo. USD Term SOFR + 0.354%)⁽⁴⁾		12/25/36		22,848,739		11,355,097

JPMorgan Mortgage Trust Series 2006-A2, Class 5A3

6.31% ⁽³⁾		11/25/33		189,298		189,226

JPMorgan Mortgage Trust Series 2006-A4, Class 1A4

4.90% ⁽³⁾		06/25/36		141,389		93,112

JPMorgan Mortgage Trust Series 2006-A7, Class 2A4R

4.39% ⁽³⁾		01/25/37		5,714		4,755

JPMorgan Mortgage Trust Series 2006-S2, Class 2A2

5.88% ⁽⁶⁾		06/25/21		24,735		—

JPMorgan Mortgage Trust Series 2022-INV1, Class A8

3.00% ^(1),(3)		03/25/52		6,674,888		5,575,097


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

JPMorgan Mortgage Trust Series 2024-3, Class A8

3.00% ^(1),(3)		05/25/54	$	10,800,000	$	8,941,431

JPMortgage Trust Series 2021-4, Class A8

2.50% ^(1),(3)		08/25/51		10,544,878		8,777,030

Knock Issuer Trust Series 2025-1, Class A1

7.12% ⁽¹⁾		02/25/30		3,565,000		3,596,700

Lehman Mortgage Trust Series 2006-4, Class 4A1

6.00%		08/25/21		399,117		258,800

Lehman XS Trust Series 2006-10N, Class 1A3A

4.19% (1 mo. USD Term SOFR + 0.534%)⁽⁴⁾		07/25/46		4,587,439		4,550,697

Lehman XS Trust Series 2006-12N, Class A31A

4.17% (1 mo. USD Term SOFR + 0.514%)⁽⁴⁾		08/25/46		1,247,223		1,351,556

MASTR Alternative Loan Trust Series 2005-4, Class 1A1

6.50%		05/25/35		3,835,705		2,884,889

MASTR Alternative Loan Trust Series 2006-2, Class 2A1

4.17% (1 mo. USD Term SOFR + 0.514%)⁽⁴⁾		03/25/36		64,827		5,289

MASTR Asset Securitization Trust Series 2006-3, Class 2A1

4.22% (1 mo. USD Term SOFR + 0.564%)⁽⁴⁾		10/25/36		28,197		4,080

MASTR Asset-Backed Securities Trust Series 2006-AB1, Class A4

6.22%		02/25/36		126,107		106,271

MASTR Seasoned Securitization Trust Series 2004-1, Class 4A1

6.53%⁽³⁾		10/25/32		2,391		2,361

Merrill Lynch Alternative Notes Asset Trust Series 2007-A1, Class A3

4.09% (1 mo. USD Term SOFR + 0.434%)⁽⁴⁾		01/25/37		712,582		212,552

Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A2C

4.27% (1 mo. USD Term SOFR + 0.614%)⁽⁴⁾		04/25/37		16,779,625		6,116,767

Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-1, Class A2D

4.45% (1 mo. USD Term SOFR + 0.794%)⁽⁴⁾		04/25/37		4,284,235		1,567,737

Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, Class A2C

4.25% (1 mo. USD Term SOFR + 0.594%)⁽⁴⁾		05/25/37		2,079,668		1,524,708

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-3, Class A2B

4.03% (1 mo. USD Term SOFR + 0.374%)⁽⁴⁾		06/25/37	$	621,594	$	621,236

Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-4, Class 2A3

4.09% (1 mo. USD Term SOFR + 0.434%)⁽⁴⁾		07/25/37		8,876,747		8,998,031

Merrill Lynch Mortgage-Backed Securities Trust Series 2007-2, Class 1A1

6.11% (1 yr. CMT + 2.400%)⁽⁴⁾		08/25/36		349,066		300,453

Mid-State Capital Corp. Trust Series 2005-1, Class A

5.75%		01/15/40		102,967		102,907

Morgan Stanley ABS Capital I, Inc. Trust Series 2004-NC8, Class M2

4.73% (1 mo. USD Term SOFR + 1.074%)⁽⁴⁾		09/25/34		144,562		156,498

Morgan Stanley Mortgage Loan Trust Series 2007-3XS, Class 2A6

6.26%		01/25/47		1,942,564		543,237

Morgan Stanley Residential Mortgage Loan Trust Series 2024-INV3, Class A1

6.50%^(1),(3)		06/25/54		6,005,087		6,165,337

MortgageIT Trust Series 2005-4, Class A1

4.33% (1 mo. USD Term SOFR + 0.674%)⁽⁴⁾		10/25/35		215,294		216,344

Oakwood Mortgage Investors, Inc. Series 1999-E, Class A1

7.61%⁽³⁾		03/15/30		4,110,386		1,459,519

Ownit Mortgage Loan Trust Series 2006-6, Class A2C

4.09% (1 mo. USD Term SOFR + 0.434%)⁽⁴⁾		09/25/37		12,392,447		5,470,004

Prime Mortgage Trust Series 2006-1, Class 1A1

5.50%⁽⁶⁾		06/25/36		1,030		—

PRKCM Trust Series 2021-AFC2, Class A1

2.07%^(1),(3)		11/25/56		4,493,532		3,980,022

RAAC Trust Series 2005-SP1, Class 4A1

7.00%		09/25/34		477,182		254,296

RALI Trust Series 2005-QA13, Class 2A1

5.15%⁽³⁾		12/25/35		291,276		257,256

RALI Trust Series 2005-QA7, Class A21

5.27%⁽³⁾		07/25/35		595,747		562,360

RALI Trust Series 2005-QA8, Class CB21

5.10%⁽³⁾		07/25/35		2,178,316		1,078,488

RALI Trust Series 2006-QA1, Class A21

4.97%⁽³⁾		01/25/36		7,574		5,078


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

RALI Trust Series 2006-QA2, Class 1A1

4.02% (1 mo. USD Term SOFR + 0.364%)⁽⁴⁾		02/25/36	$	8,831	$	5,592

RALI Trust Series 2006-QS10, Class AV (I/O)

0.57%⁽³⁾		08/25/36		13,197,739		250,925

RALI Trust Series 2006-QS5, Class A5

6.00%		05/25/36		1,508,262		1,350,795

RALI Trust Series 2006-QS6, Class 1AV (I/O)

0.77%⁽³⁾		06/25/36		18,740,688		502,861

RALI Trust Series 2006-QS7, Class AV (I/O)

0.75%⁽³⁾		06/25/36		3,565,958		93,481

RALI Trust Series 2007-QS1, Class 2AV (I/O)

0.17%⁽³⁾		01/25/37		996,584		6,602

RALI Trust Series 2007-QS2, Class AV (I/O)

0.26%⁽³⁾		01/25/37		6,825,765		73,303

RALI Trust Series 2007-QS3, Class AV (I/O)

0.36%⁽³⁾		02/25/37		31,651,119		447,499

RALI Trust Series 2007-QS4, Class 3AV (I/O)

0.39%⁽³⁾		03/25/37		3,283,920		59,868

RALI Trust Series 2007-QS5, Class AV (I/O)

0.28%⁽³⁾		03/25/37		4,501,105		51,018

RALI Trust Series 2007-QS6, Class A45

5.75%		04/25/37		1,075,189		897,845

RALI Trust Series 2007-QS8, Class AV (I/O)

0.46%⁽³⁾		06/25/37		7,523,505		129,671

Residential Asset Securitization Trust Series 2007-A3, Class 1A4

5.75%		04/25/37		2,219,439		944,656

RFMSI Trust Series 2005-SA5, Class 2A

5.00%⁽³⁾		11/25/35		5,559		4,968

RFMSI Trust Series 2006-S9, Class A3 (PAC)

5.75%		09/25/36		222,875		172,804

RFMSI Trust Series 2007-S2, Class A9

6.00%		02/25/37		2,525,662		2,019,282

RFMSI Trust Series 2007-SA2, Class 2A2

5.38%⁽³⁾		04/25/37		6,916		5,966

Saxon Asset Securities Trust Series 2007-2, Class A2C

4.01% (1 mo. USD Term SOFR + 0.354%)⁽⁴⁾		05/25/47		8,746,159		6,496,677

Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2

2.80%		01/25/36		2,398,847		2,051,638

Securitized Asset-Backed Receivables LLC Trust Series 2007-BR1, Class A2C

4.45% (1 mo. USD Term SOFR + 0.794%)⁽⁴⁾		02/25/37		6,833,830		2,759,840

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)

Issues

Maturity
Date

Principal
Amount

Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES —
NON-AGENCY (Continued)

Securitized Asset-Backed Receivables LLC Trust Series 2007-NC2, Class A2B

4.05% (1 mo. USD Term SOFR + 0.394%)⁽⁴⁾

01/25/37

10,102,693

8,829,449

Sequoia Mortgage Trust Series 2003-8, Class A1

4.42% (1 mo. USD Term SOFR + 0.754%)⁽⁴⁾

01/20/34

106,260

104,151

Soundview Home Loan Trust Series 2007-OPT3, Class 2A4

4.02% (1 mo. USD Term SOFR + 0.364%)⁽⁴⁾

08/25/37

4,000,000

3,625,973

STARM Mortgage Loan Trust Series 2007-1, Class 1A1

6.20% ⁽³⁾

02/25/37

1,336,110

721,808

STARM Mortgage Loan Trust Series 2007-2, Class 2A1

5.35% ⁽³⁾

04/25/37

77,791

43,926

STARM Mortgage Loan Trust Series 2007-3, Class 1A1

6.34% ⁽³⁾

06/25/37

1,693

763

Structured Adjustable Rate Mortgage Loan Trust Series 2004-12, Class 2A

4.60% ⁽³⁾

09/25/34

188,997

185,370

Structured Adjustable Rate Mortgage Loan Trust Series 2004-14, Class 2A

5.05% ⁽³⁾

10/25/34

479,689

473,911

Structured Adjustable Rate Mortgage Loan Trust Series 2006-5, Class 1A1

4.72% ⁽³⁾

06/25/36

1,129,459

1,049,180

Structured Asset Mortgage Investments II Trust Series 2007-AR4, Class A5

4.21% (1 mo. USD Term SOFR + 0.554%)⁽⁴⁾

09/25/47

10,031,704

9,092,097

Towd Point Mortgage Trust Series 2018-2, Class B1

3.65% ^(1),(3)

03/25/58

7,050,000

6,135,050

VCAT LLC Series 2026-NPL1, Class A1

5.10% ⁽¹⁾

01/25/56

3,686,853

3,672,420

WaMu Mortgage Pass-Through Certificates Trust Series 2004-AR14, Class A1

4.91% ⁽³⁾

01/25/35

1,542,061

1,509,643

WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR14, Class 2A1

4.69% ⁽³⁾

12/25/35

234,654

219,964

WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR18, Class 1A1

4.65% ⁽³⁾

01/25/36

491,235

475,533

WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR11, Class 1A

4.47% (1 yr. MTA + 0.960%)⁽⁴⁾

09/25/46

1,484,377

1,261,041


Issues	Maturity Date		Principal Amount		Value

RESIDENTIAL MORTGAGE-BACKED SECURITIES — NON-AGENCY (Continued)

WaMu Mortgage Pass-Through Certificates Trust Series 2006-AR17, Class 1A1A

3.81% (1 yr. MTA + 0.810%)⁽⁴⁾		12/25/46	$	1,612,610	$	1,448,287

Washington Mutual Asset-Backed Certificates WMABS Trust Series 2007-HE2, Class 2A1

3.97% (1 mo. USD Term SOFR + 0.314%)⁽⁴⁾		02/25/37		14,772,868		4,481,067

Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2006-1, Class 3A2

5.75%		02/25/36		380,749		361,077

Washington Mutual Mortgage Pass-Through Certificates WMALT Trust Series 2006-5, Class 1A1

4.37% (1 mo. USD Term SOFR + 0.714%)⁽⁴⁾		07/25/36		901,969		661,958

Washington Mutual MSC Mortgage Pass-Through Certificates Trust Series 2002-AR1, Class 1A1

5.98% ⁽³⁾		11/25/30		2,390		2,399

Wells Fargo Home Equity Asset-Backed Securities Trust Series 2007-1, Class A3

4.41% (1 mo. USD Term SOFR + 0.754%)⁽⁴⁾		03/25/37		5,521,000		5,157,384

Wells Fargo Mortgage-Backed Securities Trust Series 2006-AR11, Class A6

6.17% ⁽³⁾		08/25/36		633,720		601,697


Total Residential Mortgage-Backed Securities — Non-Agency

(Cost: $442,274,369)						366,227,580


CORPORATE BONDS — 0.2%

Financial — 0.2%

Nomura Corporate Funding Americas LLC

0.00% ^(2),(6)		10/27/26		2,531,617		2,527,567


Retail — 0.0%

HOA RoyaltyCo LLC Series 2025-1, Class A-2I

4.72% ^(1),(6),(7)		11/22/55		5,980,260		119,605


Total Corporate Bonds

(Cost: $3,727,669)						2,647,172


U.S. TREASURY SECURITIES — 0.0%

U.S. Treasury Notes

3.88%		03/31/31		12,000		11,922

3.88%		04/30/31		130,000		129,142


Total U.S. Treasury Securities

(Cost: $141,316)						141,064


Total Fixed Income Securities

(Cost: $2,052,098,234)						1,903,680,052

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

April 30, 2026



Security	Shares		Value

INVESTMENT COMPANIES—1.1%

TCW Private Asset Income Fund — I Class⁽¹²⁾		1,850,613	$	18,469,120


Total Investment Companies

(Cost: $18,511,350)				18,469,120


MONEY MARKET INVESTMENTS — 5.4%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60%⁽¹³⁾		4,832,326		4,832,326



Security	Shares	Value

TCW Central Cash Fund, 3.69%^(12),(13)	84,131,370	$ 84,131,370


Total Money Market Investments (Cost: $88,963,696)		88,963,696


Total Investments (122.3%) (Cost: $2,159,573,280)		2,011,112,868

Liabilities In Excess Of Other Assets (-22.3%)		(366,205,825)


Net Assets (100.0%)		$1,644,907,043


Futures Contracts

Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
387	5-Year U.S. Treasury Note Futures		06/30/26	$	42,103,596		$	41,732,508		$	(371,088	)
150	U.S. Ultra Long Bond Futures		06/18/26		17,917,171			17,254,688			(662,483	)

				$	60,020,767		$	58,987,196		$	(1,033,571	)

Short Futures
61	10-Year U.S. Treasury Note Futures		06/18/26	$	(6,993,787	)	$	(6,884,422	)	$	109,365
442	2-Year U.S. Treasury Note Futures		06/30/26		(91,978,927	)		(91,549,250	)		429,677

				$	(98,972,714	)	$	(98,433,672	)	$	539,042


Forward Currency Exchange Contracts

Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
SELL ⁽¹⁴⁾
Citibank N.A.		GBP		11,902,790		06/26/26	$	15,843,328	$	16,172,430	$	(329,102	)

							$	15,843,328	$	16,172,430	$	(329,102	)

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Schedule of Investments (Unaudited) (Continued)

Notes to the Schedule of Investments:

ABS

Asset-Backed Securities.

CLO

Collateralized Loan Obligation.

I/F

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

I/O

Interest Only Security.

PAC

Planned Amortization Class.

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 April 30, 2026, the value of these securities amounted to $474,555,013 or 28.9% 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 Company’s Board of Directors.

(2)

Security is not accruing interest.

(3)

(4)

Floating or variable rate security. The interest shown reflects the rate in effect at April 30, 2026.

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

(8)

Restricted security (Note 11).

(9)

(10)

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

(11)

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.

(12)

Affiliated issuer.

(13)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(14)

Fund sells foreign currency, buys USD.

The summary of the TCW Securitized Bond Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	70,921,370	$	197,110,000	$	183,900,000		84,131,370	$	84,131,370	$	739,821	$	—	$	—	$	—
TCW Private Asset Income Fund—Share Class I
		17,212,307		1,308,812		—		1,850,613		18,469,120		796,516		3,625		—		(51,999	)

Total									$	102,600,490	$	1,536,337	$	3,625	$	—	$	(51,999	)

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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	$	—		$	1,130,010,331		$	—	$	1,130,010,331
Residential Mortgage-Backed Securities — Non-Agency		—			366,227,580			—		366,227,580
Commercial Mortgage-Backed Securities — Non-Agency		—			233,365,563			—		233,365,563
Asset-Backed Securities		—			154,010,215			13,243,538		167,253,753
Commercial Mortgage-Backed Securities — Agency		—			4,034,589			—		4,034,589
Corporate Bonds		—			—			2,647,172		2,647,172
U.S. Treasury Securities		—			141,064			—		141,064

Total Fixed Income Securities		—			1,887,789,342			15,890,710		1,903,680,052

Equity Securities
Money Market Investments		88,963,696			—			—		88,963,696
Investment Companies		—			18,469,120			—		18,469,120

Total Equity Securities		88,963,696			18,469,120			—		107,432,816

Total Investments	$	88,963,696		$	1,906,258,462		$	15,890,710	$	2,011,112,868

Asset Derivatives
Futures Contracts
Interest Rate Risk		539,042			—			—		539,042

Total	$	89,502,738		$	1,906,258,462		$	15,890,710	$	2,011,651,910

Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(1,033,571	)	$	—		$	—	$	(1,033,571	)
Forward Currency Contracts
Foreign Currency Risk		—			(329,102	)		—		(329,102	)

Total	$	(1,033,571	)	$	(329,102	)	$	—	$	(1,362,673	)

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Assets and Liabilities (Unaudited)

April 30, 2026


	TCW Central Cash Fund			TCW Core Fixed Income Fund			TCW Global Bond Fund			TCW Securitized Bond Fund
ASSETS
Investments, at Value⁽¹⁾	$	3,181,498,825		$	504,206,831		$	20,263,597		$	1,908,512,378
Investment in Affiliated Issuers, at Value		—			39,524,012	⁽²⁾		2,689,309	⁽²⁾		102,600,490	⁽²⁾
Foreign Currency, at Value		—			—			3,915	⁽³⁾		763,025	⁽³⁾
Repurchase agreement at value		1,800,000,000	⁽⁴⁾		—			—			—
Cash		—			—			—			331,502
Receivable for Securities Sold		—			22,542,831			5,080			—
Receivable for Sale of When-Issued Securities		—			—			—			4,983,108
Receivable for Fund Shares Sold		—			1,216,260			2,614			1,391,917
Interest and Dividends Receivable		9,157,577			2,363,754			178,333			7,367,988
Receivable from Investment Advisor		—			49,614			20,041			78,376
Unrealized Appreciation on Forward Currency Exchange Contracts		—			196			53,862			—
Receivable for Daily Variation Margin on Open Financial Futures Contracts		—			54,108			8,545			—
Cash Collateral Held for Brokers		—			2,662,000			195,000			1,664,048
Receivable for Daily Variation Margin on Open Centrally Cleared Swap Contracts		—			33,142			5,912			—
Prepaid Expenses		1,365			58,608			23,848			54,789

Total Assets		4,990,657,767			572,711,356			23,450,056			2,027,747,621

LIABILITIES
Distributions Payable		14,097,415			80,404			741			2,405,626
Payable for Securities Purchased		100,000,000			28,321,382			228,803			5,430,551
Payable for Purchase of When-Issued Securities		—			64,101,701			2,520,879			368,953,495
Payable for Fund Shares Redeemed		413,134,176			688,739			954			3,176,307
Foreign currency overdraft, at value		—			182	⁽³⁾		—			—
Accrued Capital Gain Withholding Taxes		—			—			142			—
Accrued Directors’ Fees and Expenses		7,965			19,225			779			86,581
Deferred Accrued Directors’ Fees and Expenses		4,322			3,075			94			33,447
Accrued Management Fees		—			157,426			8,394			546,437
Accrued Distribution Fees		—			26,314			1,871			50,116
Payable to broker-variation margin on open futures contracts		—			—			—			77,783
Options Written, at Value		—			72,339	⁽⁵⁾		3,174	⁽⁵⁾		—
Unrealized Depreciation on Forward Currency Exchange Contracts		—			470,975			76,115			329,102
Transfer Agent Fees Payable		24,295			225,428			8,179			590,672
Administration Fee Payable		152,780			46,684			11,937			105,155
Audit Fees Payable		—			55,116			50,299			189,154
Accounting Fees Payable		86,869			64,776			12,394			267,000
Custodian Fees Payable		35,404			77,447			72,856			225,023
Legal Fees Payable		48,927			12,516			280			26,054
Other Accrued Expenses		757			113,947			20,862			348,075

Total Liabilities		527,592,910			94,537,676			3,018,753			382,840,578

NET ASSETS	$	4,463,064,857		$	478,173,680		$	20,431,303		$	1,644,907,043

NET ASSETS CONSIST OF:
Paid-in Capital	$	4,462,967,314		$	729,131,817		$	23,813,265		$	2,531,510,299
Accumulated Earnings (Loss)		97,543			(250,958,137	)		(3,381,962	)		(886,603,256	)

NET ASSETS	$	4,463,064,857		$	478,173,680		$	20,431,303		$	1,644,907,043

NET ASSETS ATTRIBUTABLE TO:
I Class Share	$	—		$	242,640,533		$	11,320,781		$	1,393,471,826

I-3 Class Share	$	—		$	10,250		$	—		$	10,391

N Class Share	$	—		$	128,859,437		$	9,110,522		$	241,340,461

Plan Class Share	$	—		$	106,663,460		$	—		$	10,084,365

Cash Management Shares	$	4,463,064,857		$	—		$	—		$	—

CAPITAL SHARES OUTSTANDING:⁽⁶⁾
I Class Share		—			25,208,893			1,345,306			180,207,265

I-3 Class Share		—			1,029			—			1,043

N Class Share		—			13,407,250			1,082,859			30,245,433

Plan Class Share		—			11,022,622			—			1,297,417

Cash Management Shares		4,462,967,314			—			—			—

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Assets and Liabilities (Unaudited) (Continued)


	TCW Central Cash Fund		TCW Core Fixed Income Fund		TCW Global Bond Fund		TCW Securitized Bond Fund
NET ASSET VALUE PER SHARE:⁽⁷⁾
I Class Share	$	—	$	9.63	$	8.42	$	7.73

I-3 Class Share	$	—	$	9.97	$	—	$	9.96

N Class Share	$	—	$	9.61	$	8.41	$	7.98

Plan Class Share	$	—	$	9.68	$	—	$	7.77

Cash Management Shares	$	1.00	$	—	$	—	$	—

⁽¹⁾	^{The identified cost for the TCW Central Cash Fund, the TCW Core Fixed Income Fund, the TCW Global Bond Fund and the TCW Securitized Bond Fund at April 30, 2026 was $3,181,498,825, $508,444,668, $20,294,200 and $2,056,930,561, respectively.}

⁽²⁾	^{The identified cost for the TCW Core Fixed Income Fund, the TCW Global Bond Fund and the TCW Securitized Bond Fund at April 30, 2026 was $39,524,012, $2,674,238 and $102,642,719, respectively.}

⁽³⁾	^{The identified cost for the TCW Core Fixed Income Fund, the TCW Global Bond Fund and the TCW Securitized Bond Fund at April 30, 2026 was $217, $4,170 and $749,360, respectively.}

⁽⁴⁾	^{The identified cost was $1,800,000,000.}

⁽⁵⁾	^{Premium received for the TCW Core Fixed Income Fund and the TCW Global Bond Fund at April 30, 2026 was $47,426 and $2,081, respectively.}

⁽⁶⁾	^{The number of authorized shares, with a par value of $0.001 per share is 4,000,000,000 for each of the I Class, I-3 Class, N Class and Plan Class shares.}

⁽⁷⁾	^{Represents offering price and redemption price per share.}

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Operations (Unaudited)

Six Months Ended April 30, 2026


	TCW Central Cash Fund		TCW Core Fixed Income Fund			TCW Global Bond Fund			TCW Securitized Bond Fund
INVESTMENT INCOME
Income:
Dividends	$	84,770	$	43,672		$	1,280		$	145,861
Dividends from Investment in Affiliated Issuers		—		1,063,539			33,011			1,536,337
Interest		88,666,142		8,766,948			423,741	⁽¹⁾		41,979,975

Total		88,750,912		9,874,159			458,032			43,662,173

Expenses:
Management Fees		—		941,798			50,080			3,404,782
Accounting Services Fees		45,863		—			6,717			—
Administration Fees		81,622		22,261			6,469			55,279
Transfer Agent Fees:
I Class		37,302		85,348			4,083			530,575
I-3 Class		—		1,912			—			1,912
N Class		—		44,418			3,786			122,973
Plan Class		—		9,851			—			3,866
Custodian Fees		32,395		41,810			39,683			23,978
Professional Fees		58,549		49,170			32,343			156,512
Directors’ Fees and Expenses		10,882		37,590			1,317			108,253
Registration Fees:
I Class		—		11,471			7,280			14,617
I-3 Class		—		1,854			—			1,936
N Class		—		10,210			7,285			12,425
Plan Class		—		10,308			—			8,675
Distribution Fees:
N Class		—		146,944			11,369			310,020
Compliance Expense		—		3,097			3,097			3,097
Shareholder Reporting Expense		—		5,721			1,262			7,533
Repayment of Reimbursed Expenses:
I Class		—		7,326			764			39,972
I-3 Class		—		—			—			—
N Class		—		3,238			575			8,822
Plan Class		—		2,730			—			276
Other		17,413		56,012			8,198			144,879

Total		284,026		1,493,069			184,308			4,960,382

Less Expenses Borne by Investment Advisor:
I Class		—		(101,454	)		(60,867	)		(312,293	)
I-3 Class		—		(3,760	)		—			(3,839	)
N Class		—		(144,202	)		(58,172	)		(158,121	)
Plan Class		—		(57,860	)		—			(13,102	)

Net Expenses		284,026		1,185,793			65,269			4,473,027

Net Investment Income		88,466,886		8,688,366			392,763			39,189,146

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		118,880		(2,701,426	)		(162,837	)⁽²⁾		(8,479,585	)
Realized Gain Received as Distribution from Affiliated Issuers		—		—			—			3,625
Foreign Currency		—		12,210			(2,627	)		(18,146	)
Forward Currency Exchange Contracts		—		141,964			(126,325	)		172,401
Futures Contracts		—		725,214			35,395			1,603,548
Swap Agreements		—		4,740			635			—
Change in Unrealized Appreciation (Depreciation) on:
Investments		—		(2,245,628	)		97,634	⁽³⁾		(3,028,952	)
Foreign Currency		—		16,008			3,316			20,338
Forward Currency Exchange Contracts		—		(667,196	)		(15,235	)		(557,400	)
Futures Contracts		—		(1,903,243	)		(89,008	)		(2,399,164	)
Investments in Affiliated Issuers		—		—			17			(51,999	)
Options Written		—		(24,913	)		(1,093	)		—
Swap Agreements		—		(83,761	)		(11,276	)		—

Net Realized and Unrealized Gain (Loss) on Investments		118,880		(6,726,031	)		(271,404	)		(12,735,334	)

INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	88,585,766	$	1,962,335		$	121,359		$	26,453,812

(1)	Net of foreign taxes withheld of $298 for the TCW Global Bond Fund.

(2)	Net of capital gain withholding taxes of $234 for the TCW Global Bond Fund.

(3)	Includes net change in capital gain withholding taxes of $(249) for the TCW Global Bond Fund.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Central Cash Fund						TCW Core Fixed Income Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income	$	88,466,886		$	150,039,207		$	8,688,366		$	24,222,884
Net Realized Gain (Loss) on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		118,880			28,251			(1,817,298	)		(28,574,801	)
Change in Unrealized Appreciation (Depreciation) on Investments, Futures Contracts, Options Written, Foreign Currency Transactions and Swap Contracts		—			—			(4,908,733	)		36,084,105

Increase in Net Assets Resulting from Operations		88,585,766			150,067,458			1,962,335			31,732,188

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(88,466,885	)		(150,039,208	)		(10,173,283	)		(28,699,182	)

NET CAPITAL SHARE TRANSACTIONS
I Class		212,389,583			1,522,965,841			(5,339,474	)		(367,102,906	)
I-3 Class		—			—			253			10,036	⁽¹⁾
N Class		—			—			24,653,424			(18,461,345	)
Plan Class		—			—			8,097,757			2,789,379

Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		212,389,583			1,522,965,841			27,411,960			(382,764,836	)

Increase (Decrease) in Net Assets		212,508,464			1,522,994,091			19,201,012			(379,731,830	)
NET ASSETS
Beginning of period		4,250,556,393			2,727,562,302			458,972,668			838,704,498

End of period	$	4,463,064,857		$	4,250,556,393		$	478,173,680		$	458,972,668

⁽¹⁾	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Global Bond Fund						TCW Securitized Bond Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income	$	392,763		$	783,477		$	39,189,146		$	61,763,521
Net Realized Loss on Investments, Futures Contracts, Swap Contracts and Foreign Currency Transactions		(255,759	)		(548,067	)		(6,718,157	)		(27,165,474	)
Change in Unrealized Appreciation (Depreciation) on Investments, Futures Contracts, Options Written, Foreign Currency Transactions and Swap Contracts		(15,645	)		1,155,540			(6,017,177	)		97,134,574

Increase in Net Assets Resulting from Operations		121,359			1,390,950			26,453,812			131,732,621

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(543,385	)		(559,943	)		(54,893,932	)		(129,065,511	)

NET CAPITAL SHARE TRANSACTIONS
I Class		448,024			(307,545	)		(123,725,696	)		(38,002,475	)
I-3 Class		—			—			382			10,054	⁽¹⁾
N Class		137,185			187,552			(12,370,084	)		(54,573,558	)
Plan Class		—			—			609,153			4,698,944

Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		585,209			(119,993	)		(135,486,245	)		(87,867,035	)

Increase (Decrease) in Net Assets		163,183			711,014			(163,926,365	)		(85,199,925	)
NET ASSETS
Beginning of period		20,268,120			19,557,106			1,808,833,408			1,894,033,333

End of period	$	20,431,303		$	20,268,120		$	1,644,907,043		$	1,808,833,408

⁽¹⁾	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Notes to Financial Statements

April 30, 2026

Note 1 — Organization

TCW Funds, Inc. (the “Company”), a Maryland corporation, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). As of April 30, 2026, the Company consisted of 12 no-load mutual funds (each series a “Fund” and collectively the “Funds”). TCW Investment Management Company LLC (the “Advisor”) is the investment advisor to and an affiliate of the Funds and is registered under the Investment Advisers Act of 1940, as amended. Each Fund has its own investment objective and strategies. The following is a brief description of the investment objectives and principal investment strategies for the Funds that are covered in this report:


TCW Fund		Investment Objectives and Principal Investment Strategies
Diversified Fixed Income Funds

TCW Central Cash Fund		The Fund seeks maximum current income, consistent with preservation of capital, daily liquidity and a stable share price of $1.0000. The Fund is a government money market fund.

TCW Core Fixed Income Fund		Seeks to maximize current income and achieve above average total return consistent with prudent investment management over a full market cycle by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities. The Fund may invest up to 5% of its net assets in below investment grade bonds (commonly known as “junk bonds”).

TCW Global Bond Fund		Seeks total return by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities. Under normal market conditions, the Fund invests in securities of issuers located in at least three different countries (one of which may be the United States) and invests at least 30% of its net assets in securities of issuers located outside the United States. The Fund does not limit its investments to a particular credit or ratings category and may invest up to 35% of its net assets in below investment grade bonds (commonly known as “junk bonds”).

TCW Securitized Bond Fund		Seeks to maximize current income and achieve above average total return consistent with prudent investment management over a full market cycle by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued by securitized vehicles and similar instruments. At least 50% of the Fund’s net assets will be invested in securitized obligations guaranteed by the U.S. government or its agencies, instrumentalities or sponsored corporations; privately issued mortgage-backed

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 1 — Organization (Continued)


TCW Fund		Investment Objectives and Principal Investment Strategies
		and asset-backed securities rated at time of investment Aa3 or higher by Moody’s Investors Service, Inc., AA- or higher by S&P Global Ratings or the equivalent by any other nationally recognized statistical organization; other obligations of the U.S. government or its agencies, instrumentalities or sponsored corporations; and money market instruments. Under normal market conditions, the portfolio managers seek to construct an investment portfolio with a weighted average duration of no more than eight years.

All of the Funds currently offer two classes of shares: I Class and N Class, except for the TCW Central Cash Fund, which only offers Cash Management Shares, and the TCW Core Fixed Income Fund and TCW Securitized Bond Fund, which also offer I-3 Class shares and Plan Class shares. The I Class, I-3 Class, N Class, and Plan Class of a Fund are substantially the same except that the N Class shares are subject to a distribution fee (see Note 7). Cash Management shares are generally available for purchase only by funds, separately managed accounts and other investment vehicles advised or subadvised by the Advisor or its affiliates, and therefore are not available to the public. As of August 25, 2025, each of TCW Core Fixed Income Fund and TCW Securitized Bond Fund also offers I-3 Class shares.

Note 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.

Security Valuations: Securities listed or traded on the NYSE and other stock exchanges were valued at the latest sale price on the exchange. Securities traded on the NASDAQ stock market (“NASDAQ”) were valued during the period using official closing prices as reported by NASDAQ, which may not have been the last sale price. Investments in open-end mutual funds including money market funds were valued based on the NAV per share as reported by the investment companies. All other securities for which over-the-counter (“OTC”) market quotations were readily available, including short-term securities, swap agreements and forward currency exchange contracts, were valued with prices furnished by independent pricing services or by broker-dealers.

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

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 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.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)

The three-tier hierarchy of inputs is summarized in the three broad levels listed below.


Level 1 –		quoted prices in active markets for identical investments.
Level 2 –		other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –		significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

Fair Value Measurements: Descriptions of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”). The fair value of ABS and MBS is estimated based on pricing models that consider the estimated cash flows of each debt tranche of the issuer, establish a benchmark yield, and develop an estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche including, but not limited to, the prepayment speed assumptions and attributes of the collateral. To the extent the inputs are observable and timely, the values would be categorized 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 and are obtained from independent sources. Bank loans are generally categorized as Level 2 of the fair value hierarchy.

Corporate bonds. The fair value of corporate bonds is estimated using recently executed transactions, market price quotations (where observable), bond spreads, or credit default swap

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

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.

Foreign currency contracts. The fair values of foreign currency contracts are derived from indices, reference rates, and other inputs or a combination of these factors. To the extent that these factors can be observed, foreign currency contracts are categorized as Level 2 of the fair value hierarchy.

Futures contracts. Futures contracts are generally valued at the settlement price established at the close of business each day by the exchange on which they are traded. They are categorized as Level 1.

Government and agency securities. Government and agency securities are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. Accordingly, government and agency securities are normally categorized as Level 1 or 2 of the fair value hierarchy depending on the liquidity and transparency of the market.

Money market funds. Money market funds are open-end mutual funds that invest in short-term debt securities. To the extent that these funds are valued based upon the reported NAV, they are categorized 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 are categorized as Level 2; otherwise, the fair values are 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.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)

Short-term investments. Short-term investments are valued using market price quotations, and are categorized as Level 1 or Level 2 of the fair value hierarchy.

The summary of the fair valuations according to the inputs used as of April 30, 2026 in valuing the Funds’ investments is listed after the Schedule of Investments for each Fund.

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:


TCW Core Fixed Income Fund	Asset-Backed Securities			Total
Balance as of October 31, 2025	$	3,416,058		$	3,416,058
Accrued Discounts (Premiums)		—			—
Realized Gain (Loss)		—			—
Change in Unrealized Appreciation (Depreciation)		35,087			35,087
Purchases		—			—
Sales		(158,471	)		(158,471	)
Transfers in to Level 3*		—			—
Transfers out of Level 3*		—			—

Balance as of April 30, 2026	$	3,292,674		$	3,292,674

Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2026	$	35,087		$	35,087

*	Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.


TCW Securitized Bond Fund	Asset-Backed Securities			Corporate Bonds			Residential Mortgage- Backed Securities — Non-Agency			Total
Balance as of October 31, 2025	$	19,248,876		$	—		$	—		$	19,248,876
Accrued Discounts (Premiums)		—			—			—			—
Realized Gain (Loss)		(3,800,499	)		—			(25	)		(3,800,524	)
Change in Unrealized Appreciation (Depreciation)		3,490,719			(1,080,497	)		1,284			2,411,506
Purchases		61			3,744,650			—			3,744,711
Sales		(4,195,166	)		(16,980	)		(1,259	)		(4,213,405	)
Transfers in to Level 3*		—			—			—			—
Transfers out of Level 3*		(1,500,454	)		—			—			(1,500,454	)

Balance as of April 30, 2026	$	13,243,537		$	2,647,173		$	—		$	15,890,710

Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2026	$	(247,968	)	$	(1,080,497	)	$	1,284		$	(1,327,181	)

*	Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

Significant unobservable valuation inputs for Level 3 investments as of April 30, 2026 are as follows:


TCW Core Fixed Income Fund	Fair Value at April 30, 2026		Valuation Techniques*	Unobservable Input	Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Asset-Backed Securities	$	3,292,674	Broker Quote	Offered Quote	$	94.633	$	94.633		Increase

TCW Securitized Bond	Fair Value at April 30, 2026		Valuation Techniques	Unobservable Input	Price or Price Range		Average Weighted Price		Input to Valuation If Input Increases
Asset-Backed Securities	$	1	Fair Value	Zero Market Value	$	0.000	$	0.000		Increase
Asset-Backed Securities	$	13,243,537	Broker Quote	Offered Quote	$	99.90-$100	$	99.950		Increase
Corporate Bonds	$	2,647,172	Fair Value	Broker Pricing	$	2.00-$99.84	$	50.920		Increase
Residential Mortgage-Backed Securities — Non-Agency	$	0	Fair Value	Broker Pricing	$	0.000	$	0.000		Increase
Residential Mortgage-Backed Securities — Non-Agency	$	0	Fair Value	Zero Market Value	$	0.000	$	0.000		Increase

Allocation of Operating Activity for Multiple Classes: Investment income, common expenses and realized and unrealized gains and losses are allocated among the share classes of the Funds based on the relative net assets of each class. Distribution fees, which are directly attributable to a class of shares, are charged to the operations of that class. All other expenses are charged to each Fund or class as incurred on a specific identification basis. Differences in class-specific fees and expenses will result in differences in net investment income for each class, and in turn differences in dividends paid by each class.

Dividends and Distributions: Dividends and distributions to shareholders are recorded on the ex-dividend date. The Funds declare and pay, or reinvest, dividends from net investment income monthly. Capital gains realized by a Fund will be distributed at least annually.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)

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 included in, or are a reduction of, ordinary income for federal income tax purposes.

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

For the period ended April 30, 2026, the following Funds had derivatives and transactions in derivatives, grouped in the following risk categories:

TCW Core Fixed Income Fund


	Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Swaptions Purchased	$	—		$	56,319		$	56,319
Futures Contracts ⁽¹⁾		—			311,276			311,276
Forward Currency Exchange Contracts		196			—			196

Total Value	$	196		$	367,595		$	367,791

Liability Derivatives
Forward Currency Exchange Contracts	$	(470,975	)	$	—		$	(470,975	)
Swaptions Written		—			(72,339	)		(72,339	)
Swap Agreements		—			(153,940	)		(153,940	)
Futures Contracts ⁽¹⁾		—			(1,594,985	)		(1,594,985	)

Total Value	$	(470,975	)	$	(1,821,264	)	$	(2,292,239	)

Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	141,964		$	—		$	141,964
Futures Contracts		—			725,214			725,214
Investments ⁽²⁾		—			(205,095	)		(205,095	)

Net Realized Gain (Loss)	$	141,964		$	520,119		$	662,083

Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	(667,196	)	$	—		$	(667,196	)
Futures Contracts		—			(1,903,243	)		(1,903,243	)
Investments ⁽²⁾		—			219,356			219,356
Swaptions Written		—			(24,913	)		(24,913	)
Swap Agreements		—			(83,761	)		(83,761	)

Net Change in Appreciation (Depreciation)	$	(667,196	)	$	(1,792,561	)	$	(2,459,757	)

Number of Contracts, Notional Amounts or Shares/Units ⁽⁴⁾
Forward Currency Exchange Contracts		24,725,299			—			24,725,299
Options Purchased		—			61,260,833			61,260,833
Futures Contracts		—			819			819
Swaptions Written		—			3,065,833			3,065,833
Swap Agreements		—			3,708,530			3,708,530

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)

TCW Global Bond Fund


	Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Swaptions Purchased	$	—		$	2,416		$	2,416
Futures Contracts ⁽¹⁾		—			14,570			14,570
Forward Currency Exchange Contracts		53,862			—			53,862

Total Value	$	53,862		$	16,986		$	70,848

Liability Derivatives
Forward Currency Exchange Contracts	$	(76,115	)	$	—		$	(76,115	)
Swaptions Written		—			(3,174	)		(3,174	)
Swap Agreements		—			(30,345	)		(30,345	)
Futures Contracts ⁽¹⁾		—			(88,021	)		(88,021	)

Total Value	$	(76,115	)	$	(121,540	)	$	(197,655	)

Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	(126,325	)	$	—		$	(126,325	)
Futures Contracts		—			35,395			35,395
Investments ⁽²⁾		—			(1,887	)		(1,887	)
Swap Agreements		—			635			635

Net Realized Gain (Loss)	$	(126,325	)	$	34,143		$	(92,182	)

Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	(15,235	)	$	—		$	(15,235	)
Futures Contracts		—			(89,008	)		(89,008	)
Investments ⁽²⁾		—			2,871			2,871
Swaptions Written		—			(1,093	)		(1,093	)
Swap Agreements		—			(11,276	)		(11,276	)

Net Change in Appreciation (Depreciation)	$	(15,235	)	$	(98,506	)	$	(113,741	)

Number of Contracts, Notional Amounts or Shares/Units ⁽⁴⁾
Forward Currency Exchange Contracts		11,257,862			—			11,257,862
Swaptions Purchased		—			361,667			361,667
Futures Contracts		—			54			54
Swaptions Written		—			134,500			134,500
Swap Agreements		—			657,457			657,457

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

TCW Securitized Bond Fund


	Foreign Currency Risk			Interest Rate Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Futures Contracts ⁽¹⁾	$	—		$	539,042		$	539,042

Total Value	$	—		$	539,042		$	539,042

Liability Derivatives
Forward Currency Exchange Contracts	$	(329,102	)	$	—		$	(329,102	)
Futures Contracts ⁽¹⁾		—			(1,033,571	)		(1,033,571	)

Total Value	$	(329,102	)	$	(1,033,571	)	$	(1,362,673	)

Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	172,401		$	—		$	172,401
Futures Contracts		—			1,603,448			1,603,448
Investments ⁽²⁾		—			(1,911,438	)		(1,911,438	)

Net Realized Gain (Loss)	$	172,401		$	(307,990	)	$	(135,589	)

Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	(557,400	)	$	—		$	(557,400	)
Futures Contracts		—			(2,399,164	)		(2,399,164	)
Investments⁽³⁾		—			990,051			990,051

Net Change in Appreciation (Depreciation)	$	(557,400	)	$	(1,409,113	)	$	(1,966,513	)

Number of Contracts, Notional Amounts or Shares/Units ⁽⁴⁾
Forward Currency Exchange Contracts		19,749,200			—			19,749,200
Options Purchased		—			544,972,500			544,972,500
Futures Contracts		—			2,351			2,351

(1)	Includes cumulative appreciation (depreciation) of futures contracts as reported in the Schedule of Investments. Only variation margin on April 30, 2026 is reported within the Statement of Assets and Liabilities.

(2)	Represents realized loss for purchased options during the period.

(3)	Represents change in unrealized appreciation (depreciation) for purchased options during the period.

(4)	Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the period ended on April 30, 2026.

Counterparty Credit Risk: Derivative contracts may be exposed to counterparty risk. Losses can occur if the counterparty does not perform under the contract.

The Funds’ risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Funds.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)

in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that 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.

For OTC derivatives, the Funds mitigate their counterparty risk by entering into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with each counterparty. An ISDA Master Agreement is a bilateral agreement between the Funds 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, the Funds 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 a 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.

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)

select counterparties. These Master Agreements generally include provisions for general obligations, representations, agreements, collateral, and certain events of default or termination. These Master Agreements also include provisions for netting arrangements that help reduce credit and counterparty risk associated with relevant transactions (“netting arrangements”). The netting arrangements are generally tied to credit-related events that, if triggered, would cause an event of default or termination giving a Fund or counterparty the right to terminate early and cause settlement, on a net basis, of all transactions under the applicable Master Agreement. In the event of an early termination as a result of an event of default under the Master Agreement, the total value exposure of all transactions will be offset against collateral exchanged to date, which would result in a net receivable or payable that would be due from or to the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in the event of a bankruptcy or insolvency of the counterparty. Credit-related events include, but are not limited to, bankruptcy, failure to make timely payments, restructuring, obligation acceleration, obligation default, a material decline in net assets, decline in credit rating or repudiation/moratorium. Any election made by a counterparty to early terminate the transactions under a Master Agreement could have a material adverse impact on a Fund’s financial statements. A Fund’s overall exposure to credit risk, subject to netting arrangements can change substantially within a short period, as it is affected by each transaction subject to the arrangement.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions under the relevant Master Agreement with a counterparty in a given Fund exceeds a specified threshold, net of collateral already in place, typically $250,000 or $500,000 depending on the counterparty and the type of Master Agreement. Collateral under the Master Agreements is usually in the form of cash or U.S. Treasury Bills but could include other types of securities. If permitted under the Master Agreement, certain funds may rehypothecate cash collateral received from a counterparty. The value of all derivative transactions outstanding under a Master Agreement is calculated daily to determine the amount of collateral to be received or pledged by the counterparty. Posting of collateral for OTC derivatives transactions are covered under tri-party collateral agreements between the Fund, the Fund’s custodian, and each counterparty. Collateral for centrally cleared derivatives transactions are posted with the applicable derivatives clearing organization.

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 April 30, 2026:

TCW Core Fixed Income Fund


Counterparty	Gross Assets Subject to Master Agreements		Collateral Received⁽¹⁾		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets⁽²⁾
Barclays Capital
Purchased Swaptions	$	56,319	$	—	$	—		$	56,319
JP Morgan Chase Bank
Forward Currency Exchange Contracts		196		—		(196	)		—

Total	$	56,515	$	—	$	(196	)	$	56,319

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 2 — Significant Accounting Policies (Continued)


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
Forward Currency Exchange Contracts	$	5,812	$	—		$	—		$	5,812
Citibank N.A.
Forward Currency Exchange Contracts		115,113		(50,000	)		—			65,113
Goldman Sachs & Co.
Forward Currency Exchange Contracts		164,968		(164,968	)		—			—
JP Morgan Chase Bank
Forward Currency Exchange Contracts		185,082		—			(196	)		184,886
JP Morgan Chase Bank
Written Swaptions		72,339		—			—			72,339

Total	$	543,314	$	(214,968	)	$	(196	)	$	328,150

⁽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.

TCW Global Bond Fund


Counterparty	Gross Assets Subject to Master Agreements		Collateral Received⁽¹⁾		Derivatives Assets/ (Liabilities) Available for Offset			Net Amount of Assets⁽²⁾
Barclays Capital
Forward Currency Exchange Contracts	$	17,655	$	—	$	(4,658	)	$	12,997
Barclays Capital
Purchased Swaptions		2,416		—		—			2,416
Citibank N.A.
Forward Currency Exchange Contracts		10,428		—		(10,428	)		—
Goldman Sachs & Co.
Forward Currency Exchange Contracts		14,850		—		(14,850	)		—
ING Baring (U.S.) Capital Markets
Forward Currency Exchange Contracts		5,404		—		(201	)		5,203
JP Morgan Chase Bank
Forward Currency Exchange Contracts		3,710		—		(1,721	)		1,989
Morgan Stanley Bank N.A.
Forward Currency Exchange Contracts		112		—		—			112
State Street Bank & Trust Co.
Forward Currency Exchange Contracts		566		—		(566	)		—
UBS AG
Forward Currency Exchange Contracts		1,137		—		(1,137	)		—

Total	$	56,278	$	—	$	(33,561	)	$	22,717

TCW Funds, Inc.

April 30, 2026

Note 2 — Significant Accounting Policies (Continued)


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
Forward Currency Exchange Contracts	$	1,884	$	—	$	—		$	1,884
Barclays Capital
Forward Currency Exchange Contracts		4,658		—		(4,658	)		—
Citibank N.A.
Forward Currency Exchange Contracts		21,520		—		(10,428	)		11,092
Deutsche Bank AG
Forward Currency Exchange Contracts		524		—		—			524
Goldman Sachs & Co.
Forward Currency Exchange Contracts		14,945		—		(14,850	)		95
HSBC Bank Plc
Forward Currency Exchange Contracts		296		—		—			296
ING Baring (U.S.) Capital Markets
Forward Currency Exchange Contracts		201		—		(201	)		—
JP Morgan Chase Bank
Forward Currency Exchange Contracts		1,721		—		(1,721	)		—
JP Morgan Chase Bank
Written Swaptions		3,174		—		—			3,174
State Street Bank & Trust Co.
Forward Currency Exchange Contracts		869		—		(566	)		303
UBS AG
Forward Currency Exchange Contracts		29,497		—		(1,137	)		28,360

Total	$	79,289	$	—	$	(33,561	)	$	45,728

⁽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.

TCW Securitized Bond Fund


Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged⁽¹⁾			Derivatives Assets/(Liabilities) Available for Offset		Net Amount of Liabilities⁽²⁾
Citibank N.A.
Forward Currency Exchange Contracts	$	329,102	$	(329,102	)	$	—	$	—

Total	$	329,102	$	(329,102	)	$	—	$	—

⁽¹⁾	Excess of collateral received for individual counterparty may not be shown for financial reporting purposes.

⁽²⁾	Represents the net amount payable to the counterparty in the event of default.

Note 3 — Portfolio Investments

Mortgage-Backed Securities: The Funds may invest in MBS which represent interests in pools of mortgages in which payments of both principal and interest on the securities are generally made monthly, in effect “passing through” monthly payments made by borrowers on the residential or commercial mortgage loans which underlie the securities (net of any fees paid to the issuer or guarantor of the securities). Mortgage pass-through securities differ from other forms of debt securities which normally provide for periodic payment of interest in fixed amounts with principal payments at maturity or specified call dates. The Funds may also invest in Collateralized Mortgage Obligations (“CMOs”). CMOs are debt obligations collateralized by residential or commercial

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 3 — Portfolio Investments (Continued)

mortgage loans or residential or commercial mortgage pass-through securities. Interest and principal are generally paid monthly. CMOs may be collateralized by whole mortgage loans or private mortgage pass-through securities but are more typically collateralized by portfolios of mortgage pass-through securities guaranteed by Ginnie Mae, Freddie Mac or Fannie Mae. The issuer of a series of CMOs may elect to be treated for tax purposes as a Real Estate Mortgage Investment Conduit. CMOs are structured into multiple classes, each bearing a different stated maturity. Monthly payment of principal received from the pool of underlying mortgages, including prepayments, is first returned to investors holding the shortest maturity class. Investors holding the longer maturity classes usually receive principal only after shorter classes have been retired. An investor may be partially protected against a sooner than desired return of principal because of the sequential payments. The Funds may invest in stripped MBS. Stripped MBS are usually structured with two classes that receive different proportions of the interest and principal distributions on a pool of mortgage assets. In certain cases, one class will receive all of the interest (the interest only or “IO” class), while the other class will receive all of the principal (the principal only or “PO” class). The yield to maturity on IOs is sensitive to the rate of principal repayments (including prepayments) on the related underlying mortgage assets, and principal payments may have a material effect on yield to maturity. If the underlying mortgage assets experience greater than anticipated prepayments of principal, a Fund may not fully recoup its initial investment in IOs.

Inflation-Indexed Bonds: The Funds may invest in inflation-indexed bonds, which are fixed income securities whose principal value or coupon is periodically adjusted according to the rate of inflation. Any increase or decrease in the principal amount of an inflation-indexed bond will be included as interest income.

Inflation-indexed securities issued by the U.S. Treasury have maturities of five, ten, twenty, or thirty years, although it is possible that securities with other maturities will be issued in the future. The U.S. Treasury securities pay interest on a semi-annual basis, equal to a fixed percentage of the inflation-adjusted principal amount.

If the periodic adjustment rate measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds, even during a period of deflation. However, the current market value of the bonds is not guaranteed, and will fluctuate. The Funds may also invest in other inflation- related bonds which may or may not provide a similar guarantee. If a guarantee of principal is not provided, the adjusted principal value of the bond repaid at maturity may be less than the original principal.

The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates in turn are tied to the relationship between nominal interest rates and the rate of inflation. Therefore, if inflation were to rise at a faster rate than nominal interest rates, real interest rates might decline, leading to an increase in value of inflation-indexed bonds. In contrast, if nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-indexed bonds.

TCW Funds, Inc.

April 30, 2026

Note 3 — Portfolio Investments (Continued)

While the values of these securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to declines in values. If interest rates rise due to reasons other than inflation (for example, due to changes in currency exchange rates), investors in these securities may not be protected to the extent that the increase is not reflected in the bond’s inflation measure.

When-Issued, Delayed-Delivery, To Be Announced (“TBA”) and Forward Commitment Transactions: The Funds may enter into when-issued, delayed-delivery, TBA or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of each Fund’s existing portfolio. In when-issued, delayed-delivery, TBA or forward commitment transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If a Fund’s counterparty fails to deliver a security purchased on a when-issued, delayed-delivery, TBA or forward commitment basis, there may be a loss, and the Fund may have missed an opportunity to make an alternative investment.

Prior to settlement of these transactions, the value of the subject securities will fluctuate with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery, TBA or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them.

Dollar Roll Transactions: The Funds may enter into 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 period ended April 30, 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 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

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 3 — Portfolio Investments (Continued)

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.

Repurchase Agreements: The Funds may enter into repurchase agreements under the terms of a Master Repurchase Agreement (“MRA”). In a repurchase agreement, the Funds purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. The MRA permits each Fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from each Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA 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. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Fund’s obligation under bankruptcy law to return the excess to the counterparty. The TCW Central Cash Fund had repurchase agreements outstanding as of April 30, 2026 classified as Level 2.

Reverse Repurchase Agreements: The Funds may enter into reverse repurchase agreements accounted for as secured borrowings in accordance with ASC No. 860, Transfers & Servicing: Repurchase-to-Maturity Transactions, Repurchase Financing and Disclosures. Under a reverse repurchase agreement, a Fund sells portfolio assets subject to an agreement by the Fund to repurchase the same assets at an agreed upon price and date. The Funds may utilize reverse repurchase agreements when it is anticipated that the interest income to be earned from the investment of the proceeds of the transaction is greater than the interest expense of the transaction. During the term of the reverse repurchase agreement, the Funds continue to receive the principal and interest payments on the securities sold. There were no reverse repurchase agreements outstanding during the period ended April 30, 2026.

Derivatives:

Forward Currency Exchange Contracts: The Funds enter into forward currency exchange contracts as a hedge against fluctuations in foreign exchange rates. Forward currency exchange contracts are marked-to-market daily and the change in market value is recorded by the Funds as unrealized gains or losses in the Statement of Assets and Liabilities. When a contract is closed or delivery is taken, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the U.S. dollar. The TCW Core Fixed Income Fund, the TCW Global Bond Fund, and the TCW Securitized

TCW Funds, Inc.

April 30, 2026

Note 3 — Portfolio Investments (Continued)

Bond Fund entered into forward currency exchange contracts during the period ended April 30, 2026 to hedge against the foreign currency exposure within the Funds. Outstanding forward currency exchange contracts at April 30, 2026 are disclosed in the Schedule of Investments.

Futures Contracts: The Funds may enter into futures contracts. A Fund may seek to manage a variety of different risks through the use of futures contracts, such as interest rate risk, equity price risk, and currency risk. A Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made, and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk. Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by a Fund as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of a Fund that is the subject of the hedge. It may not always be possible for a Fund to enter into a closing transaction with respect to a futures contract it has entered into at a favorable time or price. When a Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it.

When a Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The TCW Core Fixed Income Fund, the TCW Global Bond Fund, and the TCW Securitized Bond Fund utilized futures during the period ended April 30, 2026 to help manage interest rate duration of those Funds. Futures contracts outstanding at April 30, 2026 are listed on the Schedule of Investments.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 3 — Portfolio Investments (Continued)

the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit a Fund might have realized had it bought the underlying security at the time it purchased the call option.

Swap Agreements: The Funds may enter into swap agreements. Swap agreements are typically two-party contracts entered into primarily by institutional investors. In a standard “swap” transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest factor. The gross returns to be exchanged or “swapped” between the parties are generally calculated with respect to a “notional amount” (i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or in a “basket” of securities representing a particular index).

TCW Funds, Inc.

April 30, 2026

Note 3 — Portfolio Investments (Continued)

adjust the duration or credit quality of a Fund’s bond portfolio), equity risk, or credit risk — or generally to put cash to work efficiently in the markets in anticipation of, or as a replacement for, cash investments. A Fund may also enter into a total return swap to gain exposure to securities or markets in which it might not be able to invest directly (in so-called market access transactions).

Interest rate swaps are agreements in which one party pays a floating rate of interest on a notional principal amount and receives a fixed rate of interest on the same notional principal amount for a specified period of time. Alternatively, a party may pay a fixed rate and receive a floating rate. In more complex swaps, the notional principal amount may decline (or amortize) over time. A Fund’s 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 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. See “Swap Agreements” below. 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. During the period ended April 30, 2026, TCW Core Fixed Income Fund and TCW Global Bond Fund held written swaptions.

A Fund may enter into credit default swap transactions as a “buyer” or “seller” of credit protection. In a credit default swap, one party provides what is in effect insurance against a default or other adverse credit event affecting an issuer of debt securities (typically referred to as a “reference entity”). In general, the buyer of credit protection is obligated to pay the protection seller an upfront amount or a periodic stream of payments over the term of the swap. If a “credit event” occurs, the buyer has the right to deliver to the seller bonds (or other obligations of the reference entity with a value up to the full notional value of the swap), and to receive a payment equal to the par value of the bonds or other obligations. Credit events that would trigger a request that the seller make payment are specific to each credit default swap agreement, but generally include bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. When a Fund buys protection, it may or may not own securities of the reference entity. When a Fund sells protection under a credit default swap, the position may have the effect of creating leverage in the Fund’s portfolio through the Fund’s indirect long exposure to the issuer or securities on which the swap is written. When a Fund sells protection, it may do so either to earn additional income or to create such a “synthetic” long position.

Whenever a Fund enters into a swap agreement, it takes on counterparty risk — the risk that its counterparty will be unable or unwilling to meet its obligations under the swap agreement. A Fund also takes the risk that the market will move against its position in the swap agreement. In the case of a total return swap, the swap will change in value depending on the change in value of the asset or index on which the swap is written. When a Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and a Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 3 — Portfolio Investments (Continued)

During the term of a swap transaction, changes in the value of the swap are recognized as unrealized gains or losses by marking-to-market to reflect the market value of the swap. When the swap is terminated, a Fund will record a realized gain or loss equal to the difference, if any, between the proceeds from (or cost of) the closing transaction and the Fund’s basis in the agreement. Upfront swap premium payments paid or received by a Fund, if any, are recorded within the value of the open swap agreement on the Fund’s Statement of Assets and Liabilities and represent payments paid or received upon entering into the swap agreement to compensate for differences between stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, and other relevant factors). These upfront payments are recorded as realized gains or losses on each Fund’s Statement of Operations upon termination or maturity of the swap agreement.

During the term of a swap transaction, the periodic net payments can be made for a set period of time or may be triggered by a predetermined credit event. The net periodic payments may be based on a fixed or variable interest rate, the change in market value of a specified security, basket of securities or index, or the return generated by a security. These periodic payments received or made by the Funds are recorded as realized gains and losses, respectively. During the period ended April 30, 2026, the TCW Core Fixed Income Fund and the TCW Global Bond Fund entered into interest rate swaps to manage duration, the yield curve or interest rate risk by economically hedging the value of the fixed rate bonds which may decrease when interest rates rise (interest rate risk).

Note 4 — Risk Considerations

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 Securities Risk: Each Fund may invest in MBS. The values of some MBS 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. 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.

TCW Funds, Inc.

April 30, 2026

Note 4 — Risk Considerations (Continued)

Derivatives Risk: Use of derivatives, which at times is an important part of the Funds’ investment strategies, 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 achieve their objective through the use of the derivatives.

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 a 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 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 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.

MBS and 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 takeout), the borrower’s credit quality (e.g., FICO score), and whether the loan is a first trust deed or a second lien.

Counterparty Risk: The Funds may be exposed to counterparty risk, the risk that an entity with which the Funds have unsettled or open transactions may not fulfill its obligations.

Foreign Currency Risk: The Funds may be exposed to the risk that the value of the Funds’ investments denominated in foreign currencies will decline in value because the foreign currencies have declined in value relative to the U.S. dollar.

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.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 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. A 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.

U.S. Trade Policy Risk: There have been significant changes to United States trade policies, treaties and tariffs, and in the future there may be additional significant changes. These and any future developments, and continued uncertainty surrounding trade policies, treaties and tariffs, may have a material adverse effect 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 our portfolio securities to suppliers or customers, increase their supply-chain costs and expenses and could have material adverse effects on our portfolio investments.

Note 5 — Federal Income Taxes

At April 30, 2026, net unrealized appreciation (depreciation) on investments for federal income tax purposes was as follows:


	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)			Cost of Investments for Federal Income Tax Purposes
TCW Central Cash Fund	$	—	$	—		$	—		$	4,981,498,825
TCW Core Fixed Income Fund		6,310,105		(14,568,919	)		(8,258,814	)		551,989,657
TCW Global Bond Fund		515,772		(782,639	)		(266,867	)		23,219,773
TCW Securitized Bond Fund		54,311,588		(207,302,740	)		(152,991,152	)		2,164,104,020

At October 31, 2025, the components of distributable earnings on a tax basis were as follows:


	Undistributed Ordinary Income		Undistributed Long-Term Gain		Total Distributable Earnings
TCW Central Cash Fund	$	—	$	—	$	—
TCW Core Fixed Income Fund		—		—		—
TCW Global Bond Fund		306,840		—		306,840
TCW Securitized Bond Fund		—		—		—

TCW Funds, Inc.

April 30, 2026

Note 5 — Federal Income Taxes (Continued)

During the year ended October 31, 2025, the tax character of distributions paid was as follows:


	Ordinary Income		Long-Term Capital Gain		Return of Capital		Total Distributions
TCW Central Cash Fund	$	150,039,208	$	—	$	—	$	150,039,208
TCW Core Fixed Income Fund		24,134,605		—		4,564,577		28,699,182
TCW Global Bond Fund		559,943		—		—		559,943
TCW Securitized Bond Fund		120,927,741		—		8,137,770		129,065,511

At October 31, 2025, the following Funds had net realized losses that will be carried forward indefinitely for federal income tax purposes:


	No Expiration
	Short-Term Capital Losses		Long-Term Capital Losses		Total
TCW Central Cash Fund	$	21,337	$	—	$	21,337
TCW Core Fixed Income Fund		154,669,938		80,416,823		235,086,761
TCW Global Bond Fund		1,091,958		1,744,914		2,836,872
TCW Securitized Bond Fund		451,695,883		234,636,078		686,331,961

Note 6 — Fund Management Fees and Other Expenses

The Funds pay to the Advisor, as compensation for services rendered, facilities furnished and expenses borne by it, the following annual management fees as a percentage of daily net assets:


TCW Core Fixed Income Fund	0.40	%
TCW Global Bond Fund	0.50	%
TCW Securitized Bond Fund	0.40	%

The TCW Central Cash Fund does not pay management fees to the Advisor.

The Advisor limits the operating expenses of the Funds not to exceed the following expense ratios relative to the Funds’ average daily net assets:


TCW Core Fixed Income Fund
I Class	0.49	% ⁽¹⁾
I-3 Class ⁽²⁾	0.56	% ⁽¹⁾
N Class	0.70	% ⁽¹⁾
Plan Class	0.44	% ⁽¹⁾
TCW Global Bond Fund
I Class	0.60	% ⁽¹⁾
N Class	0.70	% ⁽¹⁾
TCW Securitized Bond Fund
I Class	0.49	% ⁽¹⁾
I-3 Class ⁽²⁾	0.59	% ⁽¹⁾
N Class	0.70	% ⁽¹⁾
Plan Class	0.44	% ⁽¹⁾

(1)	These limitations are based on an agreement between the Advisor and Company.

(2)	I-3 Class commenced operations on August 26, 2025.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 6 — Fund Management Fees and Other Expenses (Continued)

Any advisory fee reduced or withheld, or expense reimbursement paid, pursuant to the Expense Limitation Agreement by or from the Advisor shall be reimbursed by the appropriate Fund to the Advisor in the first, second or third fiscal year after the fiscal year of the reduction or reimbursement to the extent approved by the disinterested Directors. The Advisor may not request or receive reimbursement for previous reductions or reimbursements before payment of a Fund’s operating expenses for the current year and cannot cause a Fund to exceed the expense limitation in effect for that Fund (i) at the time the fees and expenses would have been incurred or (ii) at the time the Advisor would recoup that reduction or reimbursement. In addition, any recoupment may not exceed any more restrictive limitation to which the Advisor has agreed.

At April 30, 2026, the balance of recoupable expenses with expiration dates for the Funds were as follows:


Fund	Expires 10/31/2027		Expires 10/31/2028		Expires 10/31/2029		Total
TCW Core Fixed Income Fund	$	607,618	$	697,938	$	293,982	$	1,599,538
TCW Global Bond Fund		321,558		264,299		117,700		703,557
TCW Securitized Bond Fund		1,430,139		1,329,969		464,485		3,224,593

Total	$	2,359,315	$	2,292,206	$	876,167	$	5,527,688

During the period ended April 30, 2026, the Advisor recouped $13,294, $1,339 and $49,070 from TCW Core Fixed Income Fund, TCW Global Bond Fund and TCW Securitized Bond Fund, respectively.

Note 7 — Distribution Plan

TCW Funds, Inc.

April 30, 2026

Note 8 — Purchases and Sales of Securities

Investment transactions (excluding short-term investments) for the period ended April 30, 2026 were as follows:


	Purchases at Cost		Sales or Maturity Proceeds		U.S. Government Purchases at Cost		U.S. Government Sales or Maturity Proceeds
TCW Central Cash Fund	$	—	$	—	$	—	$	—
TCW Core Fixed Income Fund		58,510,622		51,160,408		1,054,530,261		995,741,208
TCW Global Bond Fund		11,705,902		12,678,365		18,186,151		16,917,288
TCW Securitized Bond Fund		84,647,412		187,147,041		2,665,064,547		2,685,804,488

Note 9 — Capital Share Transactions

Transactions in each Fund’s shares were as follows:


TCW Central Cash Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		21,313,012,519		$	21,313,012,519			42,464,189,277		$	42,464,189,277
Shares Issued upon Reinvestment of Dividends		2,276,423			2,276,423			112,161,316			112,161,316
Shares Redeemed		(21,102,899,359	)		(21,102,899,359	)		(41,053,384,752	)		(41,053,384,752	)

Net Increase		212,389,583		$	212,389,583			1,522,965,841		$	1,522,965,841


TCW Core Fixed Income Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		1,699,081		$	16,594,261			6,371,601		$	61,394,436
Shares Issued upon Reinvestment of Dividends		607,872			5,931,861			2,089,296			20,124,152
Shares Redeemed		(2,854,098	)		(27,865,596	)		(46,886,867	)		(448,621,494	)

Net Decrease		(547,145	)	$	(5,339,474	)		(38,425,970	)	$	(367,102,906	)


I-3 Class⁽¹⁾	Shares			Amount			Shares			Amount
Shares Sold		—		$	—			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		25			253			4			36

Net Increase		25		$	253			1,004		$	10,036


N Class	Shares			Amount			Shares			Amount
Shares Sold		3,801,006		$	37,092,682			1,771,883		$	17,040,743
Shares Issued upon Reinvestment of Dividends		267,764			2,606,840			457,446			4,401,080
Shares Redeemed		(1,542,518	)		(15,046,098	)		(4,141,861	)		(39,903,168	)

Net Increase		2,526,252		$	24,653,424			(1,912,532	)	$	(18,461,345	)


Plan Class	Shares			Amount			Shares			Amount
Shares Sold		1,811,543		$	17,796,607			2,970,455		$	28,801,956
Shares Issued upon Reinvestment of Dividends		271,896			2,666,990			466,148			4,517,858
Shares Redeemed		(1,260,046	)		(12,365,840	)		(3,153,571	)		(30,530,435	)

Net Increase		823,393		$	8,097,757			283,032		$	2,789,379

(1)	I-3 Class commenced operations on August 26, 2025.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 9 — Capital Share Transactions (Continued)


TCW Global Bond Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		21,316		$	182,762			27,175		$	232,070
Shares Issued upon Reinvestment of Dividends		37,348			318,030			36,465			304,997
Shares Redeemed		(6,214	)		(52,768	)		(100,228	)		(844,612	)

Net Increase		52,450		$	448,024			(36,588	)	$	(307,545	)


N Class	Shares			Amount			Shares			Amount
Shares Sold		15,937		$	135,453			24,543		$	205,081
Shares Issued upon Reinvestment of Dividends		30,873			262,684			29,164			243,865
Shares Redeemed		(30,585	)		(260,952	)		(31,865	)		(261,394	)

Net Increase		16,225		$	137,185			21,842		$	187,552


TCW Securitized Bond Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		17,142,688		$	134,443,504			72,436,656		$	566,452,810
Shares Issued upon Reinvestment of Dividends		4,875,865			38,201,252			9,734,895			75,837,083
Shares Redeemed		(37,769,692	)		(296,370,452	)		(87,162,981	)		(680,292,368	)

Net Decrease		(15,751,139	)	$	(123,725,696	)		(4,991,430	)	$	(38,002,475	)


I-3 Class⁽¹⁾	Shares			Amount			Shares			Amount
Shares Sold		—		$	—			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		38			382			5			54

Net Increase		38		$	382			1,005		$	10,054


N Class	Shares			Amount			Shares			Amount
Shares Sold		1,508,319		$	12,208,102			3,263,212		$	26,235,117
Shares Issued upon Reinvestment of Dividends		1,049,672			8,485,448			2,309,133			18,561,846
Shares Redeemed		(4,085,329	)		(33,063,634	)		(12,354,234	)		(99,370,521	)

Net Decrease		(1,527,338	)	$	(12,370,084	)		(6,781,889	)	$	(54,573,558	)


Plan Class	Shares			Amount			Shares			Amount
Shares Sold		293,691		$	2,316,323			681,197		$	5,337,301
Shares Issued upon Reinvestment of Dividends		1,597			12,591			2,953			23,121
Shares Redeemed		(219,109	)		(1,719,761	)		(84,688	)		(661,478	)

Net Increase		76,179		$	609,153			599,462		$	4,698,944

⁽¹⁾	I-3 Class commenced operations on August 26, 2025.

Note 10 — Affiliate Ownership

As of April 30, 2026, affiliates of the Funds and Advisor owned 100% and 86.14% of the net assets of the TCW Central Cash Fund and the TCW Global Bond Fund, respectively.

Note 11 — Restricted Securities

TCW Funds, Inc.

April 30, 2026

Note 11 — Restricted Securities (Continued)

except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). However, the Company considers 144A securities to be restricted if those securities have been deemed illiquid. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Restricted securities held by the Funds at April 30, 2026 are listed below.


TCW Global Bond Fund
Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
ModivCare, Inc., 0.00%, 10/01/29		01/12/26	$	17,558	$	331		0.00	%

			$	17,558	$	331		0.00	%


TCW Securitized Bond Fund
Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
New Mountain CLO 8 Ltd. Series CLO-8A, Class M, 0.00%, 10/20/38		10/29/25	$	43	$	0		0.00	%

			$	43	$	0		0.00	%

Note 12 — Indemnifications

Note 13 — Committed Line Of Credit

The Funds, together with the TCW Metropolitan West Funds and TCW ETF Trust, have entered into a $250,000,000 committed revolving line of credit agreement with State Street Bank and Trust Company (the “Bank”) 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 six months ended April 30, 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 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.

TCW Funds, Inc.

Notes to Financial Statements (Continued)

Note 14 — 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 are 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”), which acts in accordance with Board of Director 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.

Note 15 — 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 the 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 period ended April 30, 2026.

Note 16 — Subsequent Events

TCW Central Cash Fund

Financial Highlights — Cash Management Shares


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			For the period July 15, 2024 (Commencement of Operations) through October 31, 2024
Net Asset Value per Share, Beginning of period	$	1.00		$	1.00		$	1.00

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.02			0.04			0.02

Total from Investment Operations		0.02			0.04			0.02

Less Distributions:
Distributions from Net Investment Income		(0.02	)		(0.04	)		(0.02	)

Total Distributions		(0.02	)		(0.04	)		(0.02	)

Net Asset Value per Share, End of period	$	1.00		$	1.00		$	1.00

Total Return		1.85	% ⁽²⁾		4.47	%		1.64	% ⁽³⁾

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	4,463,065		$	4,250,556		$	2,727,562

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.01	% ⁽⁴⁾		0.02	%		0.01	% ⁽⁴⁾

After Expense Reimbursement		0.01	% ⁽⁴⁾		0.02	%		0.01	% ⁽⁴⁾

Ratio of Net Investment Income to Average Net Assets		3.77	% ⁽⁴⁾		4.35	%		5.34	% ⁽⁴⁾

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Not annualized.

(4)	Annualized.

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Year Ended October 31, 2024			Year Ended October 31, 2023			Year Ended October 31, 2022			Year Ended October 31, 2021
Net Asset Value per Share, Beginning of period	$	9.79		$	9.65		$	9.08		$	9.39		$	11.56		$	11.98

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.18			0.37			0.38			0.36			0.20			0.11
Net Realized and Unrealized Gain (Loss) on Investments		(0.13	)		0.22			0.63			(0.36	)		(2.17	)		(0.09	)


Total from Investment Operations		0.05			0.59			1.01			—			(1.97	)		0.02

Less Distributions:
Distributions from Net Investment Income		(0.21	)		(0.37	)		(0.44	)		(0.31	)		(0.17	)		(0.14	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) ⁽²⁾		(0.26	)
Distributions from Return of Capital		—			(0.08	)		—			—			(0.03	)		(0.04	)


Total Distributions		(0.21	)		(0.45	)		(0.44	)		(0.31	)		(0.20	)		(0.44	)


Net Asset Value per Share, End of period	$	9.63		$	9.79		$	9.65		$	9.08		$	9.39		$	11.56


Total Return		0.50	% ⁽³⁾		6.23	%		11.15	%		(0.29	%)		(17.10	%)		0.19	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	242,641		$	252,199		$	619,344		$	689,215		$	911,213		$	1,471,072

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.58	% ⁽⁴⁾		0.57	%		0.52	%		0.50	%		0.53	%		0.51	%

After Expense Reimbursement		0.49	% ⁽⁴⁾		0.49	%		0.49	%		0.49	%		0.49	%		0.49	%

Ratio of Net Investment Income to Average Net Assets		3.70	% ⁽⁴⁾		3.83	%		3.92	%		3.69	%		1.90	%		0.94	%

Portfolio Turnover Rate ⁽⁵⁾		218.91	% ⁽³⁾		426.07	%		453.67	%		442.34	%		473.72	%		469.87	%

(1)	Computed using average shares outstanding throughout the period.

(2)	Amount rounds to less than $0.01 per share.

(3)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(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.

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.14		$	10.00 ⁽¹	⁾

Income (Loss) from Investment Operations:
Net investment income ⁽²⁾		0.18			0.07
Net Realized and Unrealized Gain (Loss) on Investments		(0.14	)		0.14

Total from investment operations		0.04			0.21

Less Distributions:
Distributions from Net Investment Income		(0.21	)		(0.06	)
Return of capital		—			(0.01	)

Total distributions		(0.21	)		(0.07	)

Net Asset Value per Share, End of period	$	9.97		$	10.14

Total Return		0.43	% ⁽³⁾		2.11	% ⁽⁴⁾

Ratios/Supplemental data:

Net assets, end of period (in thousands)	$	10		$	10

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		74.36	% ⁽⁵⁾		1.37	% ⁽⁵⁾

After Expense Reimbursement		0.53	% ⁽⁵⁾		0.56	% ⁽⁵⁾

Ratio of Net Investment Income to Average Net Assets		3.63	% ⁽⁵⁾		3.62	% ⁽⁵⁾

Portfolio Turnover Rate ⁽⁶⁾		218.91	% ⁽³⁾		426.07	% ⁽⁴⁾

(1)	I-3 Class commenced operations on August 26, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	For the six months ended April 30, 2026 and not indicative of a full year’s results.

(4)	Not annualized.

(5)	Annualized.

(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.

TCW Core Fixed Income Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	9.77		$	9.63		$	9.05		$	9.38		$	11.53		$	11.95

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.17			0.36			0.37			0.35			0.19			0.09
Net Realized and Unrealized Gain (Loss) on Investments		(0.13	)		0.21			0.63			(0.39	)		(2.16	)		(0.09	)

Total from Investment Operations		0.04			0.57			1.00			(0.04	)		(1.97	)		—

Less Distributions:
Distributions from Net Investment Income		(0.20	)		(0.36	)		(0.42	)		(0.29	)		(0.15	)		(0.12	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) ⁽²⁾		(0.26	)
Distributions from Return of Capital		—			(0.07	)		—			—			(0.03	)		(0.04	)

Total Distributions		(0.20	)		(0.43	)		(0.42	)		(0.29	)		(0.18	)		(0.42	)

Net Asset Value per Share, End of period	$	9.61		$	9.77		$	9.63		$	9.05		$	9.38		$	11.53

Total Return		0.32	% ⁽³⁾		6.18	%		11.12	%		(0.56	)%		(17.22	)%		0.00	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	128,859		$	106,357		$	123,172		$	152,264		$	170,497		$	223,562

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.84	% ⁽⁴⁾		0.86	%		0.83	%		0.80	%		0.82	%		0.80	%

After Expense Reimbursement		0.59	% ⁽⁴⁾		0.60	%		0.62	%		0.64	%		0.64	%		0.65	%

Ratio of Net Investment Income to Average Net Assets		3.62	% ⁽⁴⁾		3.73	%		3.79	%		3.56	%		1.77	%		0.78	%

Portfolio Turnover Rate ⁽⁵⁾		218.91	% ⁽³⁾		426.07	%		453.67	%		442.34	%		473.72	%		469.87	%

(1)	Computed using average shares outstanding throughout the period.

(2)	Amount rounds to less than $0.01 per share.

(3)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(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.

See accompanying Notes to Financial Statements.

TCW Core Fixed Income Fund

Financial Highlights — Plan Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	9.84		$	9.70		$	9.13		$	9.44		$	11.61		$	12.06

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.18			0.38			0.39			0.37			0.25			0.11
Net Realized and Unrealized Gain (Loss) on Investments		(0.13	)		0.21			0.62			(0.37	)		(2.21	)		(0.11	)

Total from Investment Operations		0.05			0.59			1.01			—			(1.96	)		—

Less Distributions:
Distributions from Net Investment Income		(0.21	)		(0.37	)		(0.44	)		(0.31	)		(0.18	)		(0.14	)
Distributions from Net Realized Gain		—			—			—			—			(0.00	) ⁽²⁾		(0.26	)
Distributions from Return of Capital		—			(0.08	)		—			—			(0.03	)		(0.05	)

Total distributions		(0.21	)		(0.45	)		(0.44	)		(0.31	)		(0.21	)		(0.45	)

Net Asset Value per Share, End of period	$	9.68		$	9.84		$	9.70		$	9.13		$	9.44		$	11.61

Total Return		0.43	% ⁽³⁾		6.38	%		11.17	%		(0.11	%)		(17.07	%)		(0.01	%)

Ratios/Supplemental Data:

Net assets, end of period (in thousands)	$	106,663		$	100,406		$	96,188		$	193,212		$	81,408		$	867

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.55	% ⁽⁴⁾		0.53	%		0.50	%		0.48	%		0.51	%		7.54	%

After Expense Reimbursement		0.44	% ⁽⁴⁾		0.44	%		0.44	%		0.44	%		0.44	%		0.44	%

Ratio of Net Investment Income to Average Net Assets		3.75	% ⁽⁴⁾		3.90	%		3.96	%		3.83	%		2.46	%		0.97	%

Portfolio Turnover Rate ⁽⁵⁾		218.91	% ⁽³⁾		426.07	%		453.67	%		442.34	%		473.72	%		469.87	%

(1)	Computed using average shares outstanding throughout the period.

(2)	Amount rounds to less than $0.01 per share.

(3)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(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.

See accompanying Notes to Financial Statements.

TCW Global Bond Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	8.59		$	8.24		$	7.65		$	7.75		$	10.18		$	10.66

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.17			0.33			0.36			0.36			0.24			0.20
Net Realized and Unrealized Gain (Loss) on Investments		(0.11	)		0.26			0.48			(0.17	)		(2.50	)		(0.20	)

Total from Investment Operations		0.06			0.59			0.84			0.19			(2.26	)		—

Less Distributions:
Distributions from Net Investment Income		(0.23	)		(0.24	)		(0.25	)		(0.22	)		(0.03	)		(0.20	)
Distributions from Net Realized Gain		—			—			—			—			(0.01	)		(0.22	)
Distributions from Return of Capital		—			—			—			(0.07	)		(0.13	)		(0.06	)

Total Distributions		(0.23	)		(0.24	)		(0.25	)		(0.29	)		(0.17	)		(0.48	)

Net Asset Value per Share, End of period	$	8.42		$	8.59		$	8.24		$	7.65		$	7.75		$	10.18

Total Return		0.69	% ⁽²⁾		7.27	%		11.03	%		2.22	%		(22.45	%)		(0.18	%)

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	11,321		$	11,107		$	10,952		$	9,830		$	8,650		$	24,332

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.69	% ⁽³⁾		1.84	%		2.16	%		1.66	%		1.67	%		1.15	%

After Expense Reimbursement		0.60	% ⁽³⁾		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%

Ratio of Net Investment Income to Average Net Assets		3.97	% ⁽³⁾		3.99	%		4.37	%		4.40	%		2.59	%		1.87	%

Portfolio Turnover Rate ⁽⁴⁾		142.27	% ⁽²⁾		266.31	%		266.63	%		221.66	%		208.60	%		245.94	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Global Bond Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	8.59		$	8.24		$	7.65		$	7.75		$	10.17		$	10.66

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.16			0.33			0.35			0.35			0.26			0.19
Net Realized and Unrealized Gain (Loss) on Investments		(0.11	)		0.25			0.48			(0.17	)		(2.52	)		(0.21	)

Total from Investment Operations		0.05			0.58			0.83			0.18			(2.26	)		(0.02	)

Less Distributions:
Distributions from Net Investment Income		(0.23	)		(0.23	)		(0.24	)		(0.22	)		(0.03	)		(0.19	)
Distributions from Net Realized Gain		—			—			—			—			(0.01	)		(0.22	)
Distributions from Return of Capital		—			—			—			(0.06	)		(0.12	)		(0.06	)

Total Distributions		(0.23	)		(0.23	)		(0.24	)		(0.28	)		(0.16	)		(0.47	)

Net Asset Value per Share, End of period	$	8.41		$	8.59		$	8.24		$	7.65		$	7.75		$	10.17

Total Return		0.52	% ⁽²⁾		7.16	%		10.91	%		2.12	%		(22.45	)%		(0.38	)%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	9,111		$	9,161		$	8,605		$	7,971		$	7,730		$	10,742

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.98	% ⁽³⁾		2.15	%		2.47	%		1.95	%		2.15	%		1.53	%

After Expense Reimbursement		0.70	% ⁽³⁾		0.70	%		0.70	%		0.70	%		0.70	%		0.70	%

Ratio of Net Investment Income to Average Net Assets		3.77	% ⁽³⁾		3.89	%		4.27	%		4.29	%		2.80	%		1.77	%

Portfolio Turnover Rate ⁽⁴⁾		142.27	% ⁽²⁾		266.31	%		266.63	%		221.66	%		208.60	%		245.94	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Securitized Bond Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	7.87		$	7.85		$	7.39		$	7.96		$	10.14		$	10.46

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.18			0.27			0.37			0.43			0.33			0.21
Net Realized and Unrealized Gain (Loss) on Investments		(0.07	)		0.32			0.60			(0.53	)		(2.28	)		(0.25	)

Total from Investment Operations		0.11			0.59			0.97			(0.10	)		(1.95	)		(0.04	)

Less Distributions:
Distributions from Net Investment Income		(0.25	)		(0.53	)		(0.51	)		(0.47	)		(0.23	)		(0.20	)
Distributions from Net Realized Gain		—			—			—			—			—			(0.07	)
Distributions from Return of Capital		—			(0.04	)		—			—			—			(0.01	)

Total Distributions		(0.25	)		(0.57	)		(0.51	)		(0.47	)		(0.23	)		(0.28	)

Net Asset Value per Share, End of period	$	7.73		$	7.87		$	7.85		$	7.39		$	7.96		$	10.14

Total Return		1.43	% ⁽²⁾		7.80	%		13.32	%		(1.51	%)		(19.58	%)		(0.40	%)

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	1,393,472		$	1,541,332		$	1,576,958		$	2,149,490		$	2,595,866		$	4,264,583

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.54	% ⁽³⁾		0.54	%		0.54	%		0.50	%		0.55	%		0.52	%

After Expense Reimbursement		0.49	% ⁽³⁾		0.49	%		0.49	%		0.49	%		0.49	%		0.49	%

Ratio of Net Investment Income to Average Net Assets		4.58	% ⁽³⁾		3.48	%		4.69	%		5.28	%		3.59	%		2.07	%

Portfolio Turnover Rate ⁽⁴⁾		136.45	% ⁽²⁾		307.34	%		327.85	%		303.12	%		386.85	%		493.39	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Securitized Bond Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.14		$	10.00

Income (Loss) from Investment Operations:
Net investment income (loss) ⁽¹⁾		0.23 ⁽²	⁾		(0.04	) ⁽⁷⁾
Net Realized and Unrealized Gain (Loss) on Investments		(0.09	)		0.29

Total from investment operations		0.14			0.25

Less Distributions:
Distributions from Net Investment Income		(0.32	)		(0.10	)
Return of capital		—			(0.01	)

Total distributions		(0.32	)		(0.11	)

Net Asset Value per Share, End of period	$	9.96		$	10.14

Total Return		1.39	% ⁽⁴⁾		2.48	% ⁽³⁾

Ratios/Supplemental data:

Net assets, end of period (in thousands)	$	10		$	10

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		75.43	% ⁽⁵⁾		1.34	% ⁽⁵⁾

After Expense Reimbursement		0.58	% ⁽⁵⁾		0.59	% ⁽⁵⁾

Ratio of Net Investment Income to Average Net Assets		4.50	% ⁽⁵⁾		(2.41	%) ⁽⁵⁾

Portfolio Turnover Rate ⁽⁶⁾		136.45	% ⁽⁴⁾		307.34	% ⁽³⁾

(1)	Computed using average shares outstanding throughout the period.

(2)	The amount shown for a share outstanding throughout the period may not correlate with the net investment income on the Statement of Operations for the period due to class specific expenses.

(3)	Not annualized.

(4)	For the six months ended April 30, 2026 and not indicative of a full year’s results.

(5)	Annualized.

(6)	The portfolio turnover rate excludes investments in TCW Central Cash Fund which is used as a short-term investment vehicle for cash management.

(7)	The amount shown for a share outstanding throughout the period may not correlate with the net investment income on the Statement of Operations for the period due to class specific expenses.

See accompanying Notes to Financial Statements.

TCW Securitized Bond Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	8.12		$	8.10		$	7.62		$	8.21		$	10.46		$	10.78

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.18			0.26			0.36			0.43			0.33			0.19
Net Realized and Unrealized Gain (Loss) on Investments		(0.07	)		0.33			0.63			(0.56	)		(2.37	)		(0.25	)

Total from Investment Operations		0.11			0.59			0.99			(0.13	)		(2.04	)		(0.06	)

Less Distributions:
Distributions from Net Investment Income		(0.25	)		(0.53	)		(0.51	)		(0.46	)		(0.21	)		(0.18	)
Distributions from Net Realized Gain		—			—			—			—			—			(0.07	)
Distributions from Return of Capital		—			(0.04	)		—			—			—			(0.01	)

Total Distributions		(0.25	)		(0.57	)		(0.51	)		(0.46	)		(0.21	)		(0.26	)

Net Asset Value per Share, End of period	$	7.98		$	8.12		$	8.10		$	7.62		$	8.21		$	10.46

Total Return		1.38	% ⁽²⁾		7.57	%		13.01	%		(1.75	)%		(19.70	)%		(0.58	)%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	241,340		$	257,837		$	312,171		$	389,444		$	506,866		$	818,608

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.83	% ⁽³⁾		0.84	%		0.83	%		0.77	%		0.79	%		0.81	%

After Expense Reimbursement		0.70	% ⁽³⁾		0.70	%		0.70	%		0.70	%		0.70	%		0.70	%

Ratio of Net Investment Income to Average Net Assets		4.38	% ⁽³⁾		3.28	%		4.47	%		5.07	%		3.40	%		1.83	%

Portfolio Turnover Rate ⁽⁴⁾		136.45	% ⁽²⁾		307.34	%		327.85	%		303.12	%		386.85	%		493.39	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Securitized Bond Fund

Financial Highlights — Plan Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	7.91		$	7.89		$	7.42		$	8.00		$	10.19		$	10.50

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.18			0.28			0.37			0.44			0.36			0.22
Net Realized and Unrealized Gain (Loss) on Investments		(0.06	)		0.31			0.61			(0.55	)		(2.31	)		(0.24	)

Total from Investment Operations		0.12			0.59			0.98			(0.11	)		(1.95	)		(0.02	)

Less Distributions:
Distributions from Net Investment Income		(0.26	)		(0.54	)		(0.51	)		(0.47	)		(0.24	)		(0.21	)
Distributions from Net Realized Gain		—			—			—			—			—			(0.07	)
Distributions from Return of Capital		—			(0.03	)		—			—			—			(0.01	)

Total distributions		(0.26	)		(0.57	)		(0.51	)		(0.47	)		(0.24	)		(0.29	)

Net Asset Value per Share, End of period	$	7.77		$	7.91		$	7.89		$	7.42		$	8.00		$	10.19

Total Return		1.46	% ⁽²⁾		7.86	%		13.35	%		(1.68	%)		(19.43	%)		(0.25	%)

Ratios/Supplemental Data:

Net assets, end of period (in thousands)	$	10,084		$	9,654		$	4,904		$	2,476		$	1,522		$	571

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.70	% ⁽³⁾		0.80	%		1.16	%		1.32	%		2.98	%		6.69	%

After Expense Reimbursement		0.44	% ⁽³⁾		0.44	%		0.44	%		0.44	%		0.44	%		0.44	%

Ratio of Net Investment Income to Average Net Assets		4.66	% ⁽³⁾		3.53	%		4.70	%		5.31	%		3.88	%		2.13	%

Portfolio Turnover Rate ⁽⁴⁾		136.45	% ⁽²⁾		307.34	%		327.85	%		303.12	%		386.85	%		493.39	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Funds, Inc.

Supplemental Information

Proxy Voting Guidelines

Disclosure of Proxy Voting Guidelines

The proxy voting guidelines of the Advisor are available:

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the TCW website at https://www.tcw.com/Global-Proxy-Voting-Policy; or

By going to the SEC website at http://www.sec.gov.

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the SEC website at http://www.sec.gov.

Availability of Quarterly Portfolio Schedule

LOGO

TCW Funds, Inc.

515 South Flower Street

Los Angeles, CA 90071

800 386 3829

tcw.com

Board of Directors

Patrick C. Haden

Martin Luther King III

Peter McMillan

Victoria B. Rogers

Robert G. Rooney

Michael Swell

Andrew Tarica

David Vick

Richard Villa

Advisor

TCW Investment Management Company 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 Villa

President and Principal Executive Officer

Treasurer, Principal Financial Officer

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

We will begin sending you individual copies thirty days after receiving your request.

LOGO

Semi-Annual

Financial

Statements

and Other Information Form N-CSR Items 7-11

April 30, 2026

LOGO

TCW Funds, Inc.

Table of Contents

April 30, 2026


Schedules of Investments (Unaudited)			1

TCW Emerging Markets Income Fund			1

TCW Emerging Markets Local Currency Income Fund			9

TCW White Oak Emerging Markets Equity Fund			15

Statements of Assets and Liabilities (Unaudited)			20

Statements of Operations (Unaudited)			21

Statements of Changes in Net Assets (Unaudited)			22

Notes to Financial Statements (Unaudited)			24

Financial Highlights (Unaudited)			46

Supplemental Information (Unaudited)			55

TCW Emerging Markets Income Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

FIXED INCOME SECURITIES — 86.2% of Net Assets

Angola — 4.6%

Angola Government International Bonds

8.00% ⁽¹⁾		11/26/29	$	19,139,000	$	19,548,575

8.25% ⁽¹⁾		05/09/28		9,881,000		10,141,068

8.75% ⁽¹⁾		04/14/32		36,747,000		38,304,705

9.13% ⁽¹⁾		11/26/49		16,000,000		15,304,800

9.24% ⁽²⁾		01/15/31		19,288,000		20,613,857

9.38% ⁽²⁾		03/31/33		6,700,000		7,096,908

9.38% ⁽¹⁾		05/08/48		10,000,000		9,761,500

9.88% ⁽²⁾		10/15/35		61,317,000		66,013,882


Total Angola

(Cost: $168,287,376)						186,785,295


Argentina — 5.8%

Argentina Republic Government International Bonds

0.75%		07/09/30		35,503,142		30,644,892

3.50%		07/09/41		106,737,714		73,750,423

4.13%		07/09/35		86,721,933		64,772,612

4.13%		07/09/46		27,301,634		19,227,176

5.00%		01/09/38		55,414,420		43,090,253

Provincia de Buenos Aires/Government Bonds

6.63% ⁽¹⁾		09/01/37		7,553,749		5,829,153


Total Argentina

(Cost: $228,284,719)						237,314,509


Bahrain — 1.8%

Bahrain Government International Bonds

5.45% ⁽¹⁾		09/16/32		11,976,000		11,170,255

5.63% ⁽¹⁾		05/18/34		18,412,000		16,915,657

6.63% ⁽¹⁾		10/06/37		4,213,000		4,013,388

6.75% ⁽¹⁾		09/20/29		16,105,000		16,177,955

7.10% ⁽²⁾		02/03/38		20,562,000		20,151,582

CBB International Sukuk Programme Co. WLL

6.00% ⁽²⁾		02/12/31		7,353,000		7,224,764


Total Bahrain

(Cost: $73,965,695)						75,653,601


Brazil — 4.6%

Aegea Finance SARL

7.63% ⁽²⁾		01/20/36		18,349,000		13,331,833

9.00% ⁽²⁾		01/20/31		15,922,000		13,416,514

Brazil Government International Bonds

3.75%		09/12/31		4,148,000		3,849,634

4.75%		01/14/50		11,830,000		8,769,106

5.00%		01/27/45		8,056,000		6,482,019

5.50%		11/06/30		14,238,000		14,527,743

6.00%		10/20/33		5,479,000		5,540,639

6.13%		03/15/34		20,725,000		21,030,279

6.63%		03/15/35		12,586,000		13,051,556

7.13%		05/13/54		15,840,000		15,945,494

CSN Inova Ventures

6.75% ⁽¹⁾		01/28/28		953,000		813,462


Issues	Maturity Date		Principal Amount		Value

Brazil (Continued)

CSN Resources SA

4.63% ⁽²⁾		06/10/31	$	17,172,000	$	11,779,649

8.88% ⁽²⁾		12/05/30		9,178,000		7,465,936

8.88% ⁽¹⁾		12/05/30		7,570,000		6,157,892

Minerva Luxembourg SA

7.50% ⁽²⁾		04/22/36		10,325,000		10,143,074

Samarco Mineracao SA (4.00% Cash or 5.00% PIK) due 12/31/26

9.50% ⁽²⁾		06/30/31		26,960,826		27,044,405

Yinson Bergenia Production BV

8.50% ⁽²⁾		01/31/45		8,221,184		8,837,033


Total Brazil

(Cost: $192,379,517)						188,186,268


Chile — 1.6%

AES Andes SA

8.15% (5 yr. CMT + 3.835%)^{(2), (3)}		06/10/55		12,058,000		12,703,585

Antofagasta PLC

6.25% ⁽²⁾		05/02/34		10,078,000		10,715,837

Corp. Nacional del Cobre de Chile

6.30% ⁽¹⁾		09/08/53		8,283,000		8,443,442

6.44% ⁽¹⁾		01/26/36		10,233,000		10,919,020

Latam Airlines Group SA

7.63% ⁽²⁾		01/07/31		5,371,000		5,457,527

Sociedad Quimica y Minera de Chile SA

5.63% (5 yr. CMT + 1.915%)^{(2), (3)}		04/22/56		19,190,000		19,097,504


Total Chile

(Cost: $65,613,715)						67,336,915


Colombia — 4.9%

Banco Davivienda SA

8.13% (5 yr. CMT + 4.588%)^{(2), (3)}		07/02/35		3,150,000		3,253,068

Colombia Government International Bonds

5.63%		02/26/44		2,096,000		1,737,647

7.50%		02/02/34		34,538,000		36,205,840

7.75%		11/07/36		29,590,000		31,253,846

8.00%		04/20/33		11,685,000		12,598,884

Ecopetrol SA

5.88%		05/28/45		16,143,000		12,411,545

7.75%		02/01/32		11,075,000		11,352,318

8.38%		01/19/36		43,949,000		45,581,705

EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime Energia SpA

5.38% ⁽¹⁾		12/30/30		863,589		801,411

EnfraGen Energia Sur SAU/EnfraGen Chile SpA/EnfraGen Spain SAU

8.50% ⁽²⁾		06/30/32		16,984,000		17,651,471

Gran Tierra Energy, Inc.

9.75% ⁽²⁾		04/15/31		12,332,000		11,284,150

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Colombia (Continued)

Termocandelaria Power SA

7.75% ⁽²⁾		09/17/31	$	17,291,000	$	17,813,188


Total Colombia

(Cost: $195,902,813)						201,945,073


Congo — 0.2%

DRC International Bonds

8.75% ⁽²⁾		04/16/32		3,240,000		3,308,267

9.50% ⁽²⁾		04/16/37		2,700,000		2,761,722


Total Congo

(Cost: $5,940,000)						6,069,989


Dominican Republic — 2.9%

Dominican Republic International Bonds

4.88% ⁽²⁾		09/23/32		23,395,000		22,132,372

5.50% ⁽²⁾		02/22/29		10,183,000		10,211,920

5.88% ⁽¹⁾		10/28/35		2,030,000		1,988,080

5.88% ⁽¹⁾		01/30/60		17,634,000		15,355,335

6.00% ⁽¹⁾		02/22/33		7,150,000		7,153,146

6.40% ⁽¹⁾		06/05/49		11,519,000		11,046,836

6.60% ⁽¹⁾		06/01/36		20,688,000		21,308,019

6.85% ⁽¹⁾		01/27/45		15,542,000		15,633,387

6.95% ⁽²⁾		03/15/37		12,740,000		13,310,879

7.45% ⁽¹⁾		04/30/44		1,314,000		1,409,410


Total Dominican Republic

(Cost: $113,594,286)						119,549,384


Ecuador — 1.7%

Ecuador Government International Bonds

0.00% ^(1),(4)		07/31/30		4,203,790		3,615,512

5.00% ⁽¹⁾		07/31/40		33,112,542		27,777,449

6.90% ⁽²⁾		07/31/35		15,874,329		14,731,853

8.75% ⁽²⁾		01/29/34		17,165,000		17,536,279

9.25% ⁽²⁾		01/29/39		7,238,000		7,495,818


Total Ecuador

(Cost: $46,392,926)						71,156,911


El Salvador — 0.1%

El Salvador Government International Bonds

7.63% ⁽¹⁾		02/01/41		2,023,000		2,025,772

8.25% ⁽¹⁾		04/10/32		3,237,000		3,426,850


Total El Salvador

(Cost: $4,777,301)						5,452,622


Gabon — 1.2%

Gabon Government International Bonds

6.63% ⁽¹⁾		02/06/31		52,705,000		44,611,620

7.00% ⁽¹⁾		11/24/31		7,029,000		5,885,241


Total Gabon

(Cost: $46,354,613)						50,496,861


Issues	Maturity Date		Principal Amount		Value

Ghana — 0.8%

Ghana Government International Bonds

0.00% ^(2),(4)		07/03/26	$	554,933	$	549,738

0.00% ^(2),(4)		01/03/30		2,105,287		1,857,095

5.00% ⁽²⁾		07/03/29		9,962,474		9,771,494

5.00% ⁽²⁾		07/03/35		20,500,413		18,817,124


Total Ghana

(Cost: $25,803,754)						30,995,451


Great Britain — 0.3% (Cost: $12,069,579)

Avianca Midco 2 PLC

9.50% ⁽²⁾		01/28/31		11,960,000		11,159,637


Guatemala — 1.2%

Energuate Trust 2 0

6.35% ⁽²⁾		09/15/35		17,640,000		17,682,336

Guatemala Government Bonds

3.70% ⁽²⁾		10/07/33		4,054,000		3,632,708

5.38% ⁽¹⁾		04/24/32		3,395,000		3,429,357

6.05% ⁽²⁾		08/06/31		2,682,000		2,784,506

6.55% ⁽²⁾		02/06/37		5,153,000		5,512,216

6.60% ⁽²⁾		06/13/36		5,062,000		5,422,111

Threelands Energy Ltd. SARL

7.45% ⁽²⁾		10/20/35		11,150,000		11,459,301


Total Guatemala

(Cost: $48,185,157)						49,922,535


Honduras — 0.3% (Cost: $9,515,750)

Honduras Government International Bonds

8.63% ⁽²⁾		11/27/34		9,500,000		10,919,585


Hungary — 2.8%

Hungary Government International Bonds

3.13% ⁽¹⁾		09/21/51		19,570,000		12,238,687

5.25% ⁽¹⁾		06/16/29		6,315,000		6,421,281

5.38% ⁽¹⁾		09/26/30		3,580,000		3,664,488

5.50% ⁽¹⁾		06/16/34		12,899,000		13,071,331

5.50% ⁽¹⁾		03/26/36		43,564,000		43,662,019

6.00% ⁽¹⁾		09/26/35		19,726,000		20,557,845

6.75% ⁽¹⁾		09/25/52		675,000		728,069

MVM Energetika Zrt

6.50% ⁽¹⁾		03/13/31		7,901,000		8,285,068

7.50% ⁽¹⁾		06/09/28		4,441,000		4,657,232


Total Hungary

(Cost: $112,854,409)						113,286,020


Indonesia — 2.2%

Freeport Indonesia PT

5.32% ⁽²⁾		04/14/32		10,182,000		10,211,426

Indika Energy Tbk. PT

8.75% ⁽¹⁾		05/07/29		18,713,000		19,057,693

Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT

5.45% ⁽²⁾		05/15/30		11,675,000		11,878,145

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Indonesia (Continued)

Indonesia Government International Bonds

2.85%		02/14/30	$	930,000	$	874,702

4.70%		02/10/34		1,618,000		1,585,818

4.75%		09/10/34		1,379,000		1,348,800

4.90%		04/16/36		7,565,000		7,362,409

4.95%		02/21/36		11,498,000		11,226,762

5.25% ⁽¹⁾		01/17/42		2,355,000		2,290,803

5.48%		02/21/56		14,170,000		13,485,164

Perusahaan Perseroan Persero PT Perusahaan Listrik Negara

4.88% ⁽¹⁾		07/17/49		12,225,000		9,914,231


Total Indonesia

(Cost: $86,262,061)						89,235,953


Ivory Coast — 0.3%

Ivory Coast Government International Bonds

5.75% ⁽¹⁾		12/31/32		416,945		417,003

6.38% ⁽¹⁾		03/03/28		823,745		834,437

7.63% ⁽¹⁾		01/30/33		10,334,000		10,863,101


Total Ivory Coast

(Cost: $10,673,240)						12,114,541


Jamaica — 0.5%

Digicel International Finance Ltd./Difl U.S. LLC

8.63% ⁽²⁾		08/01/32		4,750,000		4,945,225

Montego Bay Airport Revenue Finance Ltd.

6.60% ⁽²⁾		06/15/35		17,137,000		17,036,577


Total Jamaica

(Cost: $22,063,849)						21,981,802


Kazakhstan — 0.7%

Kaspi.KZ JSC

5.90% ⁽²⁾		04/28/31		8,180,000		8,167,239

KazMunayGas National Co. JSC

5.75% ⁽¹⁾		04/19/47		9,859,000		9,426,584

QazaqGaz NC JSC (Kazakhstan)

5.63% ⁽²⁾		05/08/36		10,461,000		10,280,234


Total Kazakhstan

(Cost: $26,012,823)						27,874,057


Kenya — 0.2%

Republic of Kenya Government International Bonds

6.30% ⁽¹⁾		01/23/34		1,821,000		1,587,821

7.88% ⁽¹⁾		10/09/33		3,377,000		3,224,123

7.88% ⁽²⁾		02/26/34		2,322,000		2,173,392


Total Kenya

(Cost: $7,189,103)						6,985,336


Kuwait — 0.5%

Kuwait International Government Bonds

4.65% ⁽²⁾		10/09/35		19,725,000		19,263,435

4.65% ⁽¹⁾		10/09/35		1,328,000		1,296,925


Total Kuwait

(Cost: $21,029,760)						20,560,360


Issues	Maturity Date		Principal Amount		Value

Lebanon — 1.0%

Lebanon Government International Bonds

5.80% ^(1),(5)		04/14/20	$	35,403,000	$	8,933,947

6.00% ^(1),(5)		01/27/23		21,301,000		5,378,502

6.20% ^(1),(5)		02/26/25		20,444,000		5,166,812

6.25% ⁽¹⁾		11/04/24		1,862,000		469,466

6.25% ⁽¹⁾		06/12/25		2,200,000		555,588

6.60% ^(1),(5)		11/27/26		9,550,000		2,421,975

6.65% ^(1),(5)		04/22/24		21,172,000		5,357,151

6.65% ^(1),(5)		11/03/28		18,392,000		4,711,663

6.75% ^(1),(5)		11/29/27		5,731,000		1,465,245

6.85% ⁽¹⁾		05/25/29		5,000,000		1,282,300

7.00% ⁽¹⁾		03/20/28		5,000,000		1,278,900

8.20% ^(1),(5)		05/17/33		8,635,000		2,270,401


Total Lebanon

(Cost: $27,093,744)						39,291,950


Mexico — 5.5%

Alpek SAB de CV (Mexico)

3.25% ⁽¹⁾		02/25/31		12,516,000		10,908,445

4.25% ⁽¹⁾		09/18/29		7,399,000		6,930,569

Banco Nacional de Mexico SA

6.70% (5 yr. CMT + 2.682%)^(2),(3)		08/07/36		10,347,000		10,367,694

Cemex SAB de CV

7.20% (5 yr. CMT + 3.520%)^(2),(3),(6)		06/10/30		13,283,000		13,749,499

Grupo Televisa SAB

5.00%		05/13/45		6,473,000		4,333,738

6.13%		01/31/46		19,677,000		15,037,164

Mexico Government International Bonds

5.38%		03/22/33		40,747,000		40,108,495

6.00%		05/07/36		14,200,000		14,288,324

6.35%		02/09/35		21,577,000		22,279,547

6.88%		05/13/37		42,315,000		44,776,041

Orbia Advance Corp. SAB de CV

5.50% ⁽¹⁾		01/15/48		6,936,000		5,127,230

5.88% ⁽¹⁾		09/17/44		10,461,000		8,151,734

6.75% ⁽¹⁾		09/19/42		6,108,000		5,306,569

7.50% ⁽¹⁾		05/13/35		4,762,000		4,808,096

Petroleos Mexicanos

5.95%		01/28/31		2,293,000		2,245,787

6.38%		01/23/45		2,023,000		1,679,070

6.50%		03/13/27		1,487,000		1,506,688

6.63%		06/15/35		3,295,000		3,176,545

6.70%		02/16/32		3,842,000		3,857,022

6.75%		09/21/47		1,511,000		1,273,093

6.95%		01/28/60		3,681,000		3,067,377

7.69%		01/23/50		1,651,000		1,509,476


Total Mexico

(Cost: $219,321,062)						224,488,203

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Mongolia — 0.1% (Cost: $4,252,848)

Mongolian Mining Corp.

8.44% ⁽¹⁾		04/03/30	$	4,415,000	$	4,502,285


Morocco — 0.9%

OCP SA

6.70% ⁽¹⁾		03/01/36		16,461,000		17,184,296

6.74% (5 yr. CMT + 2.746%)^(2),(3),(6)		04/22/31		15,778,000		15,699,268

7.37% (5 yr. CMT + 3.215%)^(2),(3),(6)		04/22/36		5,304,000		5,286,126


Total Morocco

(Cost: $38,654,117)						38,169,690


Oman — 1.5%

Oman Government International Bonds

6.25% ⁽²⁾		01/25/31		33,246,000		35,364,435

6.50% ⁽²⁾		03/08/47		11,197,000		11,974,743

6.50% ⁽¹⁾		03/08/47		11,604,000		12,410,014

7.00% ⁽¹⁾		01/25/51		1,380,000		1,560,380


Total Oman

(Cost: $60,466,815)						61,309,572


Panama — 0.7%

C&W Senior Finance Ltd.

9.00% ⁽²⁾		01/15/33		14,215,000		14,579,330

Generadora de Gatun SA

6.87% ⁽²⁾		09/30/44		10,380,000		10,380,000

Panama Government International Bonds

8.00%		03/01/38		3,433,000		4,083,554


Total Panama

(Cost: $28,027,966)						29,042,884


Peru — 0.8%

Banco de Credito del Peru SA

5.65% (5 yr. CMT + 1.961%)^(2),(3)		01/15/37		16,132,000		16,092,799

5.80% (5 yr. CMT + 2.240%)^(2),(3)		03/10/35		6,189,000		6,214,313

Volcan Cia Minera SAA

8.50% ⁽²⁾		10/28/32		10,150,000		10,459,068


Total Peru

(Cost: $32,510,249)						32,766,180


Philippines — 0.8%

Philippines Government International Bonds

1.95%		01/06/32		6,450,000		5,612,081

3.00%		02/01/28		8,925,000		8,747,303

3.20%		07/06/46		12,051,000		8,329,169

5.90%		02/04/50		10,617,000		10,760,011


Total Philippines

(Cost: $33,019,329)						33,448,564


Issues	Maturity Date		Principal Amount		Value

Poland — 1.8%

Bank Gospodarstwa Krajowego

5.75% ⁽²⁾		07/09/34	$	20,474,000	$	21,304,835

6.25% ⁽¹⁾		07/09/54		9,341,000		9,426,844

Republic of Poland Government International Bonds

4.88%		10/04/33		14,052,000		14,083,758

5.38%		02/12/35		3,143,000		3,205,074

5.50%		04/04/53		3,282,000		3,066,832

5.50%		03/18/54		19,595,000		18,258,425

5.75%		11/16/32		2,365,000		2,498,055


Total Poland

(Cost: $70,017,992)						71,843,823


Romania — 5.6%

Romania Government International Bonds

4.00% ⁽¹⁾		02/14/51		2,544,000		1,684,154

5.75% ⁽²⁾		09/16/30		13,804,000		13,963,712

5.75% ⁽¹⁾		03/24/35		6,406,000		6,164,558

5.75% ⁽²⁾		07/04/36		19,000,000		17,923,460

5.88% ⁽²⁾		01/30/29		39,878,000		40,515,649

6.00% ⁽²⁾		05/25/34		13,986,000		13,836,909

6.38% ⁽²⁾		01/30/34		34,880,000		35,279,027

6.63% ⁽²⁾		05/16/36		23,500,000		23,761,555

7.13% ⁽²⁾		01/17/33		40,538,000		43,004,332

7.50% ⁽¹⁾		02/10/37		5,838,000		6,251,564

7.63% ⁽²⁾		01/17/53		23,402,000		24,954,489


Total Romania

(Cost: $220,706,025)						227,339,409


Saudi Arabia — 5.8%

Avilease Capital Ltd.

4.75% ⁽²⁾		11/12/30		13,750,000		13,489,988

Gaci First Investment Co.

5.00% ⁽¹⁾		09/15/35		3,700,000		3,620,783

5.13% ⁽¹⁾		02/14/53		2,857,000		2,481,790

Greensaif Pipelines Bidco SARL

6.13% ⁽²⁾		02/23/38		40,260,000		41,703,321

KSA Ijarah Sukuk Ltd.

4.88% ⁽¹⁾		09/09/35		3,970,000		3,908,743

Saudi Arabian Oil Co.

5.00% ⁽²⁾		02/02/36		41,467,000		40,772,842

5.25% ⁽²⁾		07/17/34		53,537,000		54,046,672

Saudi Government International Bonds

3.38% ⁽²⁾		03/05/32	EUR	7,660,000		8,819,955

3.75% ⁽²⁾		03/05/37	EUR	13,005,000		14,740,634

4.38% ⁽²⁾		01/12/31	$	35,000,000		34,510,350

5.00% ⁽¹⁾		01/16/34		16,757,000		16,790,682

5.63% ⁽¹⁾		01/13/35		2,014,000		2,093,533


Total Saudi Arabia

(Cost: $235,392,175)						236,979,293

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

Senegal — 1.5%

Senegal Government International Bonds

6.25% ⁽¹⁾		05/23/33	$	57,681,000	$	32,555,733

7.75% ⁽¹⁾		06/10/31		48,811,000		29,332,971


Total Senegal

(Cost: $92,163,139)						61,888,704


South Africa — 2.3%

Eskom Holdings

8.45% ⁽¹⁾		08/10/28		27,969,000		29,511,770

Republic of South Africa Government International Bonds

4.85%		09/30/29		6,766,000		6,724,930

5.00%		10/12/46		9,801,000		7,337,911

5.65%		09/27/47		20,275,000		16,401,259

5.75%		09/30/49		6,929,000		5,595,653

5.88%		06/22/30		6,106,000		6,228,120

5.88%		04/20/32		11,276,000		11,450,552

6.13% ⁽²⁾		12/11/37		6,356,000		6,064,768

7.25% ⁽²⁾		12/11/55		6,219,000		5,863,024


Total South Africa

(Cost: $89,000,182)						95,177,987


Sri Lanka — 1.0%

Sri Lanka Government International Bonds

3.10% ⁽²⁾		01/15/30		10,356,360		9,879,139

3.60% ⁽²⁾		06/15/35		7,737,529		5,994,418

3.60% ⁽²⁾		05/15/36		20,433,025		19,309,209

3.60% ⁽¹⁾		02/15/38		5,385,000		5,090,117


Total Sri Lanka

(Cost: $34,491,494)						40,272,883


Supranational — 0.4% (Cost: $17,670,907)

Banque Ouest Africaine de Developpement

6.25% ⁽²⁾		10/14/40	EUR	15,205,000		17,195,361


Trinidad And Tobago — 0.4% (Cost: $17,002,625)

Port of Spain Waterfront Development

7.88% ⁽²⁾		02/19/40	$	17,122,000		17,531,387


Turkey — 5.5%

Akbank TAS

9.37% (5 yr. CMT + 5.270%)^(2),(3),(6)		03/14/29		16,404,000		16,831,816

Aydem Yenilenebilir Enerji AS

9.88% ⁽¹⁾		09/30/30		19,644,000		19,909,783

Istanbul Metropolitan Municipality

10.50% ⁽²⁾		12/06/28		29,215,000		31,666,139

Limak Cimento Sanayi ve Ticaret AS

9.75% ⁽¹⁾		07/25/29		15,925,000		16,110,845


Issues	Maturity Date		Principal Amount		Value

Turkey (Continued)

TC Ziraat Bankasi AS

8.38% (5 yr. CMT + 4.616%)^(2),(3),(6)		11/05/30	$	21,366,000	$	21,228,403

Turkiye Government International Bonds

5.95%		01/15/31		8,100,000		7,962,786

6.38%		05/22/31		17,000,000		16,872,840

6.63%		02/17/45		15,739,000		13,848,903

6.88%		01/14/38		12,700,000		12,170,918

6.95%		09/16/35		13,744,000		13,562,854

7.13%		02/12/32		9,694,000		9,907,656

7.13%		07/17/32		31,187,000		31,756,475

Zorlu Enerji Elektrik Uretim AS

11.00% ⁽²⁾		04/23/30		16,234,000		14,423,909


Total Turkey

(Cost: $226,850,773)						226,253,327


Ukraine — 3.7%

NAK Naftogaz Ukraine via Kondor Finance PLC

7.13% ^(1),(5)		07/19/26	EUR	2,780,000		2,694,009

7.63% ⁽¹⁾		11/08/28	$	3,668,473		2,825,238

Ukraine Government International Bonds

0.00% ^(1),(4),(5)		02/01/30		10,911,800		6,940,341

0.00% ^(2),(4),(5)		02/01/34		35,634,635		16,925,739

0.00% ^(2),(4)		02/01/35		894,399		457,270

0.00% ^(2),(4)		02/01/36		25,054,735		12,797,708

3.00% ⁽¹⁾		02/01/35		27,507,125		14,063,293

3.00% ⁽¹⁾		02/01/36		42,470,183		21,693,345

4.00% ⁽²⁾		02/01/32		19,051,180		14,645,595

4.50% ⁽¹⁾		02/01/29		5,583,200		4,356,236

4.50% ⁽²⁾		02/01/34		29,763,043		18,254,567

4.50% ⁽²⁾		02/01/35		39,169,994		23,640,658

4.50% ⁽²⁾		02/01/36		17,667,216		10,489,203


Total Ukraine

(Cost: $128,670,468)						149,783,202


United Arab Emirates — 3.3%

Abu Dhabi Government International Bonds

3.13% ⁽¹⁾		09/30/49		14,995,000		10,042,301

Adnoc Murban RSC Ltd.

4.50% ⁽²⁾		09/11/34		28,185,000		27,146,383

5.13% ⁽²⁾		09/11/54		17,129,000		15,268,448

Galaxy Pipeline Assets Bidco Ltd.

2.63% ⁽²⁾		03/31/36		42,830,000		37,185,862

2.94% ⁽²⁾		09/30/40		24,419,745		20,174,128

MDGH GMTN RSC Ltd.

4.38% ⁽¹⁾		11/22/33		12,475,000		11,976,125

5.50% ⁽¹⁾		04/28/33		5,900,000		6,079,832

5.88% ⁽¹⁾		05/01/34		7,105,000		7,472,613


Total United Arab Emirates

(Cost: $138,202,842)						135,345,692

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Uruguay — 0.7% (Cost: $29,635,115)

Uruguay Government International Bonds

5.44%		02/14/37	$	29,635,115	$	30,614,259


Uzbekistan — 0.7%

Republic of Uzbekistan International Bonds

3.70% ⁽¹⁾		11/25/30		6,875,000		6,430,187

3.90% ⁽¹⁾		10/19/31		6,450,000		5,990,309

5.38% ⁽¹⁾		02/20/29		6,600,000		6,635,772

Uzbekneftegaz JSC

8.75% ⁽²⁾		05/07/30		8,206,000		8,823,173


Total Uzbekistan

(Cost: $25,284,594)						27,879,441


Venezuela — 2.8%

Petroleos de Venezuela SA

5.38% ^(1),(5)		04/12/27		26,874,300		10,244,214

6.00% ^(1),(5)		05/16/24		27,627,497		10,843,792

9.00% ^(1),(5)		11/17/21		18,044,846		8,159,338

Venezuela Government International Bonds

7.75% ^(1),(5)		10/13/19		19,034,200		8,741,076

8.25% ^(1),(5)		10/13/24		27,699,800		13,341,609

9.25% ⁽⁵⁾		09/15/27		65,837,900		34,609,009

9.25% ^(1),(5)		05/07/28		35,687,900		18,265,781

11.75% ^(1),(5)		10/21/26		16,794,100		9,615,294


Total Venezuela

(Cost: $60,858,826)						113,820,113


Zambia — 0.2%

Zambia Government International Bonds

0.50% ⁽¹⁾		12/31/53		7,400,000		5,088,462

5.75% ⁽¹⁾		06/30/33		4,242,360		4,184,070


Total Zambia

(Cost: $7,368,995)						9,272,532


Total Fixed Income Securities

(Cost: $3,359,814,728)						3,529,199,446


PURCHASED OPTIONS⁽⁷⁾ — 0.0% (Cost: $1,124,486)						1,052,136


MONEY MARKET INVESTMENTS — 7.0%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60%⁽⁸⁾				68,058,043		68,058,043

TCW Central Cash Fund, 3.69%^(8),(9)				219,769,999		219,769,999


Total Money Market Investments

(Cost: $287,828,042)						287,828,042

Issues

Maturity
Date

Principal
Amount

Value

SHORT-TERM INVESTMENTS — 6.8%

Egypt — 3.1%

Egypt Treasury Bills

0.00% ⁽⁴⁾

07/21/26

EGP

1,320,775,000

23,565,912

Egypt Treasury Bills

0.00% ⁽⁴⁾

05/05/26

EGP

9,325,000

173,909

Egypt Treasury Bills

0.00% ⁽⁴⁾

05/12/26

EGP

696,925,000

12,970,179

Egypt Treasury Bills

0.00% ⁽⁴⁾

05/19/26

EGP

696,925,000

12,910,930

Egypt Treasury Bills

0.00% ⁽⁴⁾

06/02/26

EGP

1,802,000,000

33,081,094

Egypt Treasury Bills

0.00% ⁽⁴⁾

07/28/26

EGP

544,350,000

9,670,332

Egypt Treasury Bills

0.00% ⁽⁴⁾

08/04/26

EGP

1,937,450,000

34,300,149

Total Egypt

(Cost: $140,363,827)

126,672,505

Nigeria — 3.7%

Nigeria OMO Bills

0.00% ⁽⁴⁾

05/05/26

NGN

7,355,645,000

5,349,190

Nigeria OMO Bills

0.00% ⁽⁴⁾

05/12/26

NGN

12,644,355,000

9,202,902

Nigeria OMO Bills

0.00% ⁽⁴⁾

06/02/26

NGN

9,973,629,000

7,150,407

Nigeria OMO Bills

0.00% ⁽⁴⁾

06/23/26

NGN

13,126,142,000

9,332,202

Nigeria OMO Bills

0.00% ⁽⁴⁾

06/30/26

NGN

24,022,035,000

17,017,165

Nigeria OMO Bills

0.00% ⁽⁴⁾

07/07/26

NGN

8,676,141,000

6,124,476

Nigeria OMO Bills

0.00% ⁽⁴⁾

07/14/26

NGN

19,414,702,000

13,657,574

Nigeria OMO Bills

0.00% ⁽⁴⁾

07/21/26

NGN

43,700,000,000

30,421,997

Nigeria OMO Bills

0.00% ⁽⁴⁾

08/25/26

NGN

48,531,142,000

33,448,017

Nigeria OMO Bills

0.00% ⁽⁴⁾

09/01/26

NGN

26,454,295,000

18,170,793

Total Nigeria

(Cost: $147,322,853)

149,874,723

Total Short-Term Investment

(Cost: $287,686,680)

276,547,228

Total Investments (100.0%)

(Cost: $3,936,453,936)

4,094,626,852

Excess Of Other Assets Over Liabilities (0.0%)

1,243,939

Net Assets (100.0%)

4,095,870,791

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

April 30, 2026


Purchased Options

Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts		Notional Amount		Market Value		Premiums Paid (Received) by Fund		Unrealized Appreciation (Depreciation)
CALL
USD Call / EUR Put	BNP Paribas S.A.		1.17		06/03/26		174,339,000		174,339,000	$	1,052,136	$	1,124,486	$	(72,350	)


Forward Currency Exchange Contracts

Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
SELL ⁽¹⁰⁾
UBS AG		EUR		39,577,985		06/05/26	$	46,102,573	$	46,494,610	$	(392,037	)

Notes to the Schedule of Investments:

EGP

Egyptian Pound.

EUR

Euro Currency.

NGN

Nigeria Naira.

PIK

Payment-in-kind.

(1)

(2)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At April 30, 2026, the value of these securities amounted to $1,550,699,713 or 37.9% 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 Company’s Board of Directors.

(3)

Floating or variable rate security. The interest shown reflects the rate in effect at April 30, 2026.

(4)

Security is not accruing interest.

(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)

Perpetual maturity.

(7)

See options table for description of purchased options.

(8)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(9)

Affiliated issuer.

(10)

Fund sells foreign currency, buys USD.

The summary of the TCW Emerging Markets Income Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	29,649,999	$	764,420,000	$	574,300,000		219,769,999	$	219,769,999	$	1,654,190	$	—	$	—	$	—

Total									$	219,769,999	$	1,654,190	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Emerging Markets Income Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Foreign Government Bonds	$	—	$	2,339,150,872		$	—	$	2,339,150,872
Oil & Gas		—		289,195,472			—		289,195,472
Electric		—		175,193,285			—		175,193,285
Pipelines		—		109,343,546			—		109,343,546
Banks		—		104,719,772			—		104,719,772
Chemicals		—		98,499,838			—		98,499,838
Mining		—		62,626,937			—		62,626,937
Iron & Steel		—		53,261,343			—		53,261,343
Government Regional/Local		—		31,666,138			—		31,666,138
Investment Companies		—		31,631,143			—		31,631,143
Building Materials		—		29,860,344			—		29,860,344
Water		—		26,748,347			—		26,748,347
Coal		—		23,559,978			—		23,559,978
Telecommunications		—		19,524,555			—		19,524,555
Media		—		19,370,902			—		19,370,902
Real Estate		—		17,531,387			—		17,531,387
Multi-National		—		17,195,361			—		17,195,361
Engineering & Construction		—		17,036,577			—		17,036,577
Airlines		—		16,617,164			—		16,617,164
Diversified Financial Services		—		13,489,987			—		13,489,987
Food		—		10,143,073			—		10,143,073
Transportation		—		8,837,033			—		8,837,033
Commercial Services		—		8,167,239			—		8,167,239
Regional (State & Province)		—		5,829,153			—		5,829,153

Total Fixed Income Securities		—		3,529,199,446			—		3,529,199,446

Purchased Options		—		1,052,136			—		1,052,136

Total Purchased Options		—		1,052,136			—		1,052,136

Money Market Investments		287,828,042		—			—		287,828,042
Short-Term Investments		—		276,547,228			—		276,547,228

Total Investments	$	287,828,042	$	3,806,798,810		$	—	$	4,094,626,852

Liability Derivatives
Forward Currency Contracts
Foreign Currency Risk	$	—	$	(392,037	)	$	—	$	(392,037	)

Total	$	—	$	(392,037	)	$	—	$	(392,037	)

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Maturity Date		Principal Amount		Value

FIXED INCOME SECURITIES — 77.2% of Net Assets

Brazil — 11.6%

Brazil Notas do Tesouro Nacional

6.00%		05/15/35	BRL	2,650,000	$	2,264,345

Brazil Notas do Tesouro Nacional Series F

10.00%		01/01/31	BRL	24,869,000		4,388,417


Total Brazil

(Cost: $6,043,657)						6,652,762


Chile — 1.6%

Bonos de la Tesoreria de la Republica en pesos

5.00% ⁽¹⁾		10/01/28	CLP	270,000,000		299,437

5.00%		03/01/35	CLP	300,000,000		320,486

6.00% ⁽¹⁾		04/01/33	CLP	270,000,000		308,883


Total Chile

(Cost: $927,586)						928,806


China — 2.2% (Cost: $1,224,508)

China Government Bonds

2.57%		05/20/54	CNY	8,050,000		1,245,387


Colombia — 4.2%

Colombia TES Series B

6.25%		07/09/36	COP	4,302,700,000		740,193

Colombia TES

7.25%		10/18/34	COP	339,900,000		64,771

9.25%		05/28/42	COP	2,892,100,000		592,082

11.75%		01/24/35	COP	2,309,900,000		573,726

13.25%		02/09/33	COP	1,558,700,000		414,325


Total Colombia

(Cost: $2,303,955)						2,385,097


Czech Republic — 5.5%

Czech Republic Government Bonds

0.95% ⁽¹⁾		05/15/30	CZK	6,730,000		284,261

1.50%		04/24/40	CZK	15,930,000		497,859

1.75%		06/23/32	CZK	10,050,000		412,589

3.50%		05/30/35	CZK	44,850,000		1,957,039


Total Czech Republic

(Cost: $3,146,410)						3,151,748


Hungary — 3.2%

Hungary Government Bonds

2.25%		04/20/33	HUF	172,630,000		440,753

3.25%		10/22/31	HUF	425,750,000		1,204,788

4.75%		11/24/32	HUF	65,940,000		198,604


Total Hungary

(Cost: $1,740,969)						1,844,145


India — 1.6%

India Government Bonds

7.09%		08/05/54	INR	60,040,000		595,992


Issues	Maturity Date		Principal Amount		Value

India (Continued)

7.10%		04/08/34	INR	30,110,000	$	318,866


Total India

(Cost: $1,058,090)						914,858


Indonesia — 4.1% (Cost: $2,323,776)

Indonesia Treasury Bonds

6.50%		04/15/36	IDR	41,010,000,000		2,320,275


Malaysia — 7.7%

Malaysia Government Bonds

2.63%		04/15/31	MYR	3,420,000		835,078

3.58%		07/15/32	MYR	1,655,000		421,103

3.73%		06/15/28	MYR	1,821,000		463,973

3.76%		05/22/40	MYR	411,000		102,397

4.05%		04/18/39	MYR	2,075,000		534,740

4.76%		04/07/37	MYR	3,897,000		1,072,889

4.89%		06/08/38	MYR	3,500,000		974,801


Total Malaysia

(Cost: $3,692,688)						4,404,981


Mexico — 6.7%

Mexico Bonos

7.75%		11/23/34	MXN	14,020,000		735,137

7.75%		11/13/42	MXN	8,500,000		408,730

8.00%		11/07/47	MXN	4,047,400		195,480

8.50%		11/18/38	MXN	15,803,370		837,591

8.50%		11/18/38	MXN	20,659,630		1,094,977

10.00%		11/20/36	MXN	9,030,000		543,667


Total Mexico

(Cost: $3,719,087)						3,815,582


Peru — 2.8%

Peru Government Bonds

6.85% ⁽¹⁾		08/12/35	PEN	3,470,000		1,027,995

Peru Government International Bonds

6.90% ⁽¹⁾		08/12/37	PEN	1,911,000		550,711


Total Peru

(Cost: $1,666,573)						1,578,706


Philippines — 1.8% (Cost: $1,058,801)

Philippines Government Bonds

6.63%		08/17/33	PHP	63,520,000		1,024,007


Poland — 5.0%

Republic of Poland Government Bonds

1.75%		04/25/32	PLN	4,986,000		1,123,931

5.00%		10/25/34	PLN	3,083,000		813,860

5.00%		10/25/35	PLN	3,562,000		929,816


Total Poland

(Cost: $2,685,219)						2,867,607

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Maturity Date		Principal Amount		Value

Romania — 1.4%

Romania Government Bonds

4.25%		04/28/36	RON	2,870,000	$	512,395

4.75%		10/11/34	RON	1,590,000		303,455


Total Romania

(Cost: $832,117)						815,850


South Africa — 9.0%

Republic of South Africa Government Bonds

6.25%		03/31/36	ZAR	9,904,714		490,206

7.00%		02/28/31	ZAR	6,500,000		368,651

8.25%		03/31/32	ZAR	8,603,550		509,222

8.50%		01/31/37	ZAR	13,500,000		777,810

8.75%		01/31/44	ZAR	22,050,150		1,247,550

8.88%		02/28/35	ZAR	19,342,610		1,164,170

9.00%		01/31/40	ZAR	9,827,499		575,745


Total South Africa

(Cost: $5,049,543)						5,133,354


Thailand — 5.3%

Thailand Government Bonds

2.80%		06/17/34	THB	6,231,000		201,835

2.98%		06/17/45	THB	40,249,000		1,219,305

3.39%		06/17/37	THB	15,748,000		532,067

3.45%		06/17/43	THB	26,932,000		876,258

4.00%		06/17/55	THB	5,721,000		204,566


Total Thailand

(Cost: $3,132,544)						3,034,031


Turkey — 3.5% (Cost: $2,236,811)

Turkiye Government Bonds

37.84%		07/14/27	TRY	92,300,077		2,023,055


Total Fixed Income Securities

(Cost: $42,842,334)						44,140,251


PURCHASED OPTIONS⁽²⁾ — 0.3% (Cost: $95,386)					156,242



Issues			Shares		Value

MONEY MARKET INVESTMENTS — 4.7%

State Street Institutional U.S. Government Money Market Fund — Premier Class, 3.60% ⁽³⁾				282,646		282,646

TCW Central Cash Fund, 3.69% ^(3),(4)				2,420,000		2,420,000


Total Money Market Investments

(Cost: $2,702,646)						2,702,646

Issues

Maturity
Date

Principal
Amount

Value

SHORT -TERM INVESTMENTS — 14.0% of Net Assets

Egypt — 5.9%

Egypt Treasury Bills

0.00% ⁽⁵⁾

07/21/26

EGP

100,650,000

1,795,847

Egypt Treasury Bills

0.00% ⁽⁵⁾

05/05/26

EGP

9,050,000

168,780

Egypt Treasury Bills

0.00% ⁽⁵⁾

06/02/26

EGP

12,350,000

226,721

Egypt Treasury Bills

0.00% ⁽⁵⁾

07/14/26

EGP

23,500,000

420,298

Egypt Treasury Bills

0.00% ⁽⁵⁾

08/04/26

EGP

43,800,000

775,425

Total Egypt

(Cost: $3,539,644)

3,387,071

Nigeria — 8.1%

Nigeria OMO Bills

0.00% ⁽⁵⁾

05/05/26

NGN

1,103,347,000

802,379

Nigeria OMO Bills

0.00% ⁽⁵⁾

05/12/26

NGN

1,896,653,000

1,380,435

Nigeria OMO Bills

0.00% ⁽⁵⁾

06/02/26

NGN

73,101,000

52,408

Nigeria OMO Bills

0.00% ⁽⁵⁾

06/23/26

NGN

1,750,000,000

1,244,186

Nigeria OMO Bills

0.00% ⁽⁵⁾

08/25/26

NGN

862,816,000

594,659

Nigeria OMO Bills

0.00% ⁽⁵⁾

09/01/26

NGN

762,590,000

523,804

Total Nigeria

(Cost: $4,553,878)

4,597,871

Total Short -term Investments

(Cost: $8,093,522)

7,984,942

Total Investments (96.2%)

(Cost: $53,733,888)

54,984,081

Excess Of Other Assets Over Liabilities (3.8%)

2,190,140

Net Assets (100.0%)

57,174,221

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

April 30, 2026


Purchased Options

Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts		Notional Amount		Market Value		Premiums Paid (Received) by Fund		Unrealized Appreciation (Depreciation)
EUR Put / BRL Call	Bank of America N.A.		6.11		12/15/26		2,400,000		2,400,000	$	109,229	$	38,391	$	70,838
USD Call / EUR Put	Goldman Sachs & Co.		1.18		05/18/26		2,461,000		2,461,000		16,284		16,173		111
USD Put / ZAR Call	Goldman Sachs & Co.		16.00		12/15/26		2,208,000		2,208,000		30,729		40,822		(10,093	)

Total Swaptions										$	156,242	$	95,386	$	60,856


Written Options

Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation (Depreciation)
USD Put / ZAR Call	Goldman Sachs & Co.		15.00		12/15/26		(2,208,000	)		(2,208,000	)	$	(6,966	)	$	(10,558	)	$	3,592

												$	(6,966	)	$	(10,558	)	$	3,592


Forward Currency Contracts

Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
BUY ⁽⁶⁾
Barclays Capital		MYR		4,513,649		05/19/26	$	1,157,877	$	1,136,956	$	(20,921	)
Barclays Capital		MYR		6,754,760		06/08/26		1,709,519		1,702,405		(7,114	)
Barclays Capital		THB		181,756,988		05/26/26		5,843,712		5,584,511		(259,201	)
BNP Paribas S.A.		CNH		27,325,822		09/15/26		3,922,441		4,035,941		113,500
BNP Paribas S.A.		COP		1,263,044,618		05/08/26		343,962		347,705		3,743
BNP Paribas S.A.		COP		848,423,312		06/03/26		229,658		232,140		2,482
BNP Paribas S.A.		PLN		1,770,000		05/06/26		494,683		487,684		(6,999	)
Citibank N.A.		CLP		514,463,768		06/03/26		567,603		569,743		2,140
Citibank N.A.		CNH		3,953,000		09/15/26		583,049		583,847		798
Citibank N.A.		COP		2,060,827,802		05/08/26		563,351		567,326		3,975
Citibank N.A.		COP		2,859,802,803		06/03/26		778,589		782,481		3,892
Citibank N.A.		KRW		848,379,800		05/11/26		583,555		572,067		(11,488	)
Citibank N.A.		PHP		35,202,000		06/05/26		590,802		572,037		(18,765	)
Deutsche Bank AG		INR		26,093,339		06/09/26		280,062		274,098		(5,964	)
Goldman Sachs & Co.		HUF		290,746,381		06/08/26		876,775		933,699		56,924
Goldman Sachs & Co.		TRY		12,700,000		05/26/26		274,718		275,407		689
Goldman Sachs & Co.		TRY		43,028,885		09/08/26		834,328		845,806		11,478
HSBC Bank PLC		MXN		30,042,134		07/07/26		1,668,220		1,706,436		38,216
HSBC Bank PLC		PLN		5,657,685		05/06/26		1,533,308		1,558,847		25,539
HSBC Bank PLC		RON		4,286,677		06/05/26		967,746		966,338		(1,408	)
ING Baring U.S. Capital Markets		CZK		19,379,000		06/09/26		914,828		933,266		18,438
JP Morgan Chase Bank		EGP		29,694,080		05/12/26		559,000		551,378		(7,622	)
Morgan Stanley & Co.		MYR		2,398,954		05/19/26		612,710		604,280		(8,430	)
Standard Chartered Bank		HUF		117,399,000		06/08/26		346,818		377,014		30,196
Standard Chartered Bank		KRW		816,776,800		05/11/26		560,000		550,757		(9,243	)
Standard Chartered Bank		TRY		29,932,365		05/05/26		642,813		661,867		19,054
State Street Bank & Trust Co.		CLP		1,030,543,759		06/03/26		1,174,399		1,141,277		(33,122	)
State Street Bank & Trust Co.		HUF		368,987,619		06/08/26		1,160,342		1,184,962		24,620
State Street Bank & Trust Co.		KRW		846,827,375		05/11/26		586,697		571,020		(15,677	)

							$	30,361,565	$	30,311,295	$	(50,270	)

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

Schedule of Investments (Unaudited) (Continued)


Forward Currency Contracts

Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for USD		Contracts at Value		Unrealized Appreciation (Depreciation)
SELL ⁽⁷⁾
Bank of America N.A.		CZK		13,379,000		06/09/26	$	631,849	$	644,314	$	(12,465	)
Barclays Capital		COP		4,500,000,000		06/03/26		1,165,459		1,231,261		(65,802	)
BNP Paribas S.A.		HUF		282,702,651		06/08/26		850,839		907,868		(57,029	)
Citibank N.A.		CZK		6,000,000		06/09/26		285,031		288,951		(3,920	)
Citibank N.A.		ZAR		9,633,050		05/29/26		580,798		575,788		5,010
Goldman Sachs & Co.		PHP		66,800,000		06/05/26		1,139,310		1,085,509		53,801
Goldman Sachs & Co.		TRY		26,266,000		05/05/26		566,584		580,796		(14,212	)
HSBC Bank PLC		THB		108,024,913		05/26/26		3,393,382		3,319,082		74,300
ING Baring U.S. Capital Markets		BRL		2,953,960		06/05/26		565,573		588,163		(22,590	)
Standard Chartered Bank		COP		3,323,872,420		05/08/26		905,873		915,031		(9,158	)
Standard Chartered Bank		PHP		33,698,085		06/05/26		571,929		547,598		24,331
Standard Chartered Bank		THB		18,795,000		05/26/26		573,655		577,479		(3,824	)
State Street Bank & Trust Co.		BRL		5,700,000		06/05/26		1,055,996		1,134,927		(78,931	)
State Street Bank & Trust Co.		INR		26,093,339		06/09/26		278,047		274,098		3,949
State Street Bank & Trust Co.		ZAR		9,492,093		05/14/26		576,773		567,996		8,777

							$	13,141,098	$	13,238,861	$	(97,763	)

Notes to the Schedule of Investments:

BRL

Brazilian Real.

CLP

Chilean Peso.

CNH

Chinese Yuan Renminbi.

CNY

Chinese Yuan.

COP

Colombian Peso.

CZK

Czech Koruna.

EGP

Egyptian Pound.

EUR

Euro Currency.

HUF

Hungarian Forint.

IDR

Indonesian Rupiah.

INR

Indian Rupee.

KRW

South Korean Won.

MXN

Mexican Peso.

MYR

Malaysian Ringgit.

NGN

Nigeria Naira.

PEN

Peruvian Nuevo Sol.

PHP

Philippines Peso.

PLN

Polish Zloty.

RON

Romanian New Leu.

THB

Thai Baht.

TRY

Turkish New Lira.

TWD

Taiwan Dollar.

ZAR

South African Rand.

(1)

(2)

See options table for description of purchased options.

(3)

Rate disclosed is the 7-day net yield as of April 30, 2026.

(4)

Affiliated issuer.

(5)

Security is not accruing interest.

(6)

Fund buys foreign currency, sells USD.

(7)

Fund sells foreign currency, buys USD.

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

April 30, 2026

The summary of the TCW Emerging Markets Local Currency Income Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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
	$	1,160,000	$	20,260,000	$	19,000,000		2,420,000	$	2,420,000	$	40,730	$	—	$	—	$	—

Total									$	2,420,000	$	40,730	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW Emerging Markets Local Currency Income Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Foreign Government Bonds	$	—	$	44,140,251		$	—	$	44,140,251

Total Fixed Income Securities		—		44,140,251			—		44,140,251

Purchased Options		—		156,242			—		156,242

Total Purchased Options		—		156,242			—		156,242

Money Market Investments		2,702,646		—			—		2,702,646
Short-Term Investments		—		7,984,942			—		7,984,942

Total Investments	$	2,702,646	$	52,281,435		$	—	$	54,984,081

Asset Derivatives
Forward Currency Contracts
Foreign Currency Risk		—		525,852			—		525,852

Total	$	2,702,646	$	52,807,287		$	—	$	55,509,933

Liability Derivatives
Forward Currency Contracts
Foreign Currency Risk	$	—	$	(673,885	)	$	—	$	(673,885	)
Written Options
Foreign Currency Risk		—		(6,966	)		—		(6,966	)

Total	$	—	$	(680,851	)	$	—	$	(680,851	)

See accompanying Notes to Financial Statements.

TCW White Oak Emerging Markets Equity Fund

Schedule of Investments (Unaudited)

April 30, 2026


Issues	Shares		Value

COMMON STOCK — 98.0% of Net Assets

Argentina — 0.6% (Cost: $106,775)

Vista Energy SAB de CV⁽¹⁾		1,660	$	123,371


Australia — 1.2%

Emerald Resources NL⁽¹⁾		23,040		97,103

Mader Group Ltd.		6,900		37,305

Predictive Discovery Ltd.⁽¹⁾		86,482		56,549

Turaco Gold Ltd.⁽¹⁾		103,000		42,289


Total Australia

(Cost: $211,938)				233,246


Brazil — 2.6%

B3 SA — Brasil Bolsa Balcao		21,600		78,165

Itau Unibanco Holding SA		12,666		110,711

MercadoLibre, Inc.⁽¹⁾		59		105,765

Raia Drogasil SA		22,134		97,467

Rede D’Or Sao Luiz SA⁽²⁾		11,100		85,482

Vivara Participacoes SA		8,600		44,550


Total Brazil

(Cost: $403,548)				522,140


Cameroon — 0.4% (Cost: $57,660)

Golar LNG Ltd.		1,470		80,835


Canada — 0.9%

Avanti Gold Corp.⁽¹⁾		63,000		33,326

DPM Metals, Inc.		1,350		45,238

International Petroleum Corp.⁽¹⁾		2,700		76,134

Montage Gold Corp.⁽¹⁾		3,000		29,579


Total Canada

(Cost: $122,470)				184,277


China — 17.6%

Alibaba Group Holding Ltd.		31,890		525,496

BOC Aviation Ltd.⁽²⁾		17,575		180,437

BYD Co. Ltd.		3,420		45,486

Centre Testing International Group Co. Ltd.		19,400		47,217

China Construction Bank Corp.		129,400		146,043

China Hongqiao Group Ltd.		21,000		88,880

China Merchants Bank Co. Ltd.		15,800		95,615

China Merchants Bank Co. Ltd.		16,600		93,071

China Pacific Insurance Group Co. Ltd.		25,900		113,045

Contemporary Amperex Technology Co. Ltd.		2,700		173,317

Dongguan Yiheda Automation Co. Ltd.		11,236		46,803

Eastroc Beverage Group Co. Ltd.⁽¹⁾		1,700		43,879

Fuyao Glass Industry Group Co. Ltd.⁽²⁾		14,200		107,854

Haitian International Holdings Ltd.		12,900		34,994

Kanzhun Ltd.		1,825		24,674

Kuaishou Technology⁽²⁾		10,730		59,723

Kweichow Moutai Co. Ltd.		380		77,004


Issues	Shares		Value

China (Continued)

Laopu Gold Co. Ltd.		970	$	69,246

Meituan^(1),(2)		2,780		29,906

NAURA Technology Group Co. Ltd.		1,400		110,757

NetEase, Inc.		4,905		114,804

Neway Valve Suzhou Co. Ltd.		5,600		51,657

Shandong Sinocera Functional Material Co. Ltd.		12,500		65,894

Shanghai Hanbell Precise Machinery Co. Ltd.		12,300		49,920

Sinoseal Holding Co. Ltd.		4,900		24,351

Sunresin New Materials Co. Ltd.		11,000		103,134

Tencent Holdings Ltd.		11,255		683,432

Trip.com Group Ltd.⁽¹⁾		1,230		66,408

Victory Giant Technology Huizhou Co. Ltd.⁽¹⁾		1,500		61,158

Wuxi Biologics Cayman, Inc.^(1),(2)		19,500		83,305

WuXi XDC Cayman, Inc.⁽¹⁾		6,000		45,552

Yum China Holdings, Inc.		740		36,205

Zylox-Tonbridge Medical Technology Co. Ltd.⁽²⁾		13,500		39,533


Total China

(Cost: $3,639,300)				3,538,800


France — 0.6% (Cost: $136,242)

Hermes International SCA		59		112,815


Germany — 0.7% (Cost: $70,779)

Infineon Technologies AG		2,010		135,114


Great Britain — 0.6%

HSBC Holdings PLC		4,300		78,400

Inchcape PLC		3,500		39,294


Total Great Britain

(Cost: $94,146)				117,694


Greece — 0.6%

Eurobank SA		22,560		98,110

Jumbo SA		900		24,535


Total Greece

(Cost: $127,985)				122,645


Hong Kong — 2.9%

AIA Group Ltd.		17,450		191,549

Cowell e Holdings, Inc.⁽¹⁾		7,000		28,341

Hong Kong Exchanges & Clearing Ltd.		3,100		165,088

Plover Bay Technologies Ltd.⁽³⁾		56,000		54,122

Prudential PLC		3,200		48,155

Techtronic Industries Co. Ltd.		7,300		105,831


Total Hong Kong

(Cost: $501,355)				593,086


Hungary — 0.4% (Cost: $74,898)

OTP Bank Nyrt		540		72,318

See accompanying Notes to Financial Statements.

TCW White Oak Emerging Markets Equity Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Shares		Value

India — 13.6%

Aadhar Housing Finance Ltd.⁽¹⁾		5,475	$	28,476

Aditya Infotech Ltd.⁽¹⁾		1,164		28,513

Ajax Engineering Ltd.⁽¹⁾		4,400		24,127

Ather Energy Ltd.⁽¹⁾		3,820		37,779

Aurobindo Pharma Ltd.		4,100		60,164

Bharat Electronics Ltd.		14,000		63,987

Bharat Heavy Electricals Ltd.		14,600		54,433

Bharti Airtel Ltd.		8,460		169,491

Bosch Ltd.		100		38,204

BSE Ltd.		1,570		60,549

Care Ratings Ltd.		1,840		32,410

Carraro India Ltd.		3,200		18,843

Coforge Ltd.		2,700		34,381

Computer Age Management Services Ltd.		6,880		53,975

Coromandel International Ltd.		600		12,672

Data Patterns India Ltd.		1,860		80,329

Elgi Equipments Ltd.		8,800		51,043

Embassy Office Parks REIT		13,000		58,137

Eternal Ltd.⁽¹⁾		26,100		68,365

Eureka Forbes Ltd.⁽¹⁾		6,100		32,625

Five-Star Business Finance Ltd.		6,300		31,898

Godrej Consumer Products Ltd.		3,185		36,095

Godrej Industries Ltd.⁽¹⁾		5,600		56,306

Gujarat Mineral Development Corp. Ltd.		6,700		52,222

HDFC Bank Ltd.		10,240		84,085

Hindalco Industries Ltd.		5,100		55,978

ICICI Bank Ltd. (SP ADR) (India)		5,475		145,580

ICICI Prudential Asset Management Co. Ltd.		1,080		37,644

Indigo Paints Ltd.		2,850		26,060

Info Edge India Ltd.		3,040		31,239

INOX India Ltd.		3,100		48,027

Intellect Design Arena Ltd.		3,350		26,497

InterGlobe Aviation Ltd.⁽²⁾		1,060		48,463

International Gemmological Institute India Ltd.		11,300		41,286

Jindal Stainless Ltd.		6,000		48,859

JSW Energy Ltd.		7,600		45,063

Kotak Mahindra Bank Ltd.		10,650		43,303

Krishna Institute of Medical Sciences Ltd.^(1),(2)		8,300		58,537

Lumax Auto Technologies Ltd.		2,400		41,191

Mahindra & Mahindra Ltd.		1,330		43,574

Manappuram Finance Ltd.		16,600		52,042

Mankind Pharma Ltd.		820		19,495

Nexus Select Trust		13,700		22,440

Oil & Natural Gas Corp. Ltd.		15,800		49,963

Onesource Specialty Pharma Ltd.⁽¹⁾		1,310		24,181

PB Fintech Ltd.⁽¹⁾		4,110		72,435


Issues	Shares		Value

India (Continued)

Rainbow Children’s Medicare Ltd.		3,700	$	49,105

Senco Gold Ltd.		6,600		21,924

Shaily Engineering Plastics Ltd.		1,800		48,279

SJS Enterprises Ltd.		3,400		65,448

Solar Industries India Ltd.		224		36,664

Sona Blw Precision Forgings Ltd.⁽²⁾		7,300		46,908

State Bank of India		5,820		66,046

Sudeep Pharma Ltd.⁽¹⁾		5,300		39,987

Thyrocare Technologies Ltd.⁽²⁾		11,775		49,941

Torrent Pharmaceuticals Ltd.		360		15,900

Vijaya Diagnostic Centre Ltd.		3,850		46,161


Total India

(Cost: $2,786,893)				2,737,329


Indonesia — 0.6%

Bank Central Asia Tbk. PT		258,300		87,574

Cisarua Mountain Dairy Tbk. PT		95,400		23,368

Map Aktif Adiperkasa PT		514,000		18,160


Total Indonesia

(Cost: $181,628)				129,102


Israel — 0.2% (Cost: $50,059)

Elbit Systems Ltd.		55		46,164


Italy — 0.4% (Cost: $84,208)

Moncler SpA		1,330		80,253


Japan — 0.5% (Cost: $69,929)

Disco Corp.		200		95,065


Malaysia — 0.4%

Hong Leong Bank Bhd.		9,200		51,565

Syarikat Takaful Malaysia Keluarga Bhd.		39,600		33,104


Total Malaysia

(Cost: $75,995)				84,669


Mexico — 2.0%

BBB Foods, Inc.⁽¹⁾		1,950		71,175

Grupo Aeroportuario del Centro Norte SAB de CV		3,090		40,672

Grupo Financiero Banorte SAB de CV		4,430		48,158

Grupo Mexico SAB de CV		12,150		132,865

Qualitas Controladora SAB de CV		3,400		33,914

Regional SAB de CV		4,500		37,687

Southern Copper Corp.		268		46,013


Total Mexico

(Cost: $320,306)				410,484


Netherlands — 1.5%

ASM International NV		128		125,155

ASML Holding NV		75		107,924

Prosus NV		1,420		68,322


Total Netherlands

(Cost: $174,146)				301,401

See accompanying Notes to Financial Statements.

TCW White Oak Emerging Markets Equity Fund

April 30, 2026


Issues	Shares		Value

Norway — 0.2% (Cost: $32,904)

Orkla India Ltd.⁽¹⁾		5,600	$	37,863


Peru — 0.7%

Credicorp Ltd.		163		52,840

Intercorp Financial Services, Inc.		1,100		49,038

Minsur SA		25,600		43,613


Total Peru

(Cost: $114,882)				145,491


Philippines — 0.3% (Cost: $73,389)

BDO Unibank, Inc.		32,384		60,557


Poland — 1.4%

Allegro.eu SA^(1),(2)		8,100		66,618

Benefit Systems SA⁽¹⁾		77		84,902

Diagnostyka SA		1,100		46,068

ING Bank Slaski SA		570		61,835

KRUK SA		250		30,065


Total Poland

(Cost: $235,310)				289,488


Portugal — 0.3% (Cost: $63,213)

Jeronimo Martins SGPS SA		2,740		65,762


Saudi Arabia — 1.3%

Almasar Alshamil Education Co.⁽¹⁾		6,500		38,385

Derayah Financial Co.⁽³⁾		6,430		38,237

Dr. Sulaiman Al Habib Medical Services Group Co.		650		42,085

Saudi Awwal Bank		6,800		61,855

Saudi National Bank		7,915		82,896


Total Saudi Arabia

(Cost: $267,220)				263,458


Singapore — 1.0%

Grab Holdings Ltd.⁽¹⁾		11,200		42,784

Oversea-Chinese Banking Corp. Ltd.		9,360		161,389


Total Singapore

(Cost: $174,948)				204,173


South Africa — 1.5%

Boxer Retail Ltd.		7,000		33,382

Clicks Group Ltd.		1,350		21,377

Discovery Ltd.		2,700		41,781

FirstRand Ltd.		12,500		66,107

Naspers Ltd.		1,610		86,960

PSG Financial Services Ltd.		30,800		52,102


Total South Africa

(Cost: $265,466)				301,709


South Korea — 16.8%

Coupang, Inc.⁽¹⁾		3,460		69,131

Hana Materials, Inc.		750		39,051


Issues	Shares		Value

South Korea (Continued)

Hanwha Aerospace Co. Ltd.		125	$	119,421

HD Hyundai Electric Co. Ltd.		151		129,848

HD Hyundai Marine Solution Co. Ltd.		850		153,685

HYBE Co. Ltd.		430		77,049

KB Financial Group, Inc.		1,015		111,148

Kia Corp.		475		48,992

NICE Information Service Co. Ltd.		3,110		32,081

Samsung Biologics Co. Ltd.^(1),(2)		61		60,819

Samsung Electronics Co. Ltd.		9,070		1,365,829

Samsung Fire & Marine Insurance Co. Ltd.		200		62,163

Shinhan Financial Group Co. Ltd.		1,480		100,505

Silicon2 Co. Ltd.		1,600		47,952

SK Hynix, Inc.		1,024		913,170

ST Pharm Co. Ltd.		525		54,398


Total South Korea

(Cost: $1,650,446)				3,385,242


Switzerland — 0.7% (Cost: $139,017)

Cie Financiere Richemont SA		723		138,632


Taiwan — 22.5%

Accton Technology Corp.		2,440		178,697

Advantech Co. Ltd.		5,600		64,039

Alchip Technologies Ltd.		620		82,928

Delta Electronics, Inc.		5,390		377,976

Dynapack International Technology Corp.		4,600		53,695

E Ink Holdings, Inc.		9,000		39,602

Elite Material Co. Ltd.		1,410		210,097

Gold Circuit Electronics Ltd.		3,100		140,324

Jentech Precision Industrial Co. Ltd.		1,000		174,096

MediaTek, Inc.		2,000		166,963

Nien Made Enterprise Co. Ltd.		2,800		31,335

Sporton International, Inc.		5,000		35,171

Taiwan Semiconductor Manufacturing Co. Ltd.		39,040		2,710,229

Visual Photonics Epitaxy Co. Ltd.		8,500		94,695

Voltronic Power Technology Corp.		1,460		36,280

WinWay Technology Co. Ltd.		380		127,774


Total Taiwan

(Cost: $2,389,819)				4,523,901


Thailand — 0.2% (Cost: $39,970)

Mr. DIY Holding Thailand PCL		150,520		41,363


United Arab Emirates — 1.5%

ADNOC Drilling Co. PJSC		52,900		81,520

Emirates NBD Bank PJSC		12,200		96,327

Parkin Co. PJSC		27,500		39,004

Salik Co. PJSC		23,600		35,982

Spinneys 1961 Holding PLC		91,400		29,364

Talabat Holding PLC		62,000		15,079


Total United Arab Emirates

(Cost: $293,118)				297,276

See accompanying Notes to Financial Statements.

TCW White Oak Emerging Markets Equity Fund

Schedule of Investments (Unaudited) (Continued)


Issues	Shares		Value

United States — 1.3%

Aura Minerals, Inc.		2,100	$	58,165

BeOne Medicines Ltd.⁽¹⁾		3,150		71,491

Cognizant Technology Solutions Corp.		530		28,037

Warrior Met Coal, Inc.		1,200		107,820


Total United States

(Cost: $205,328)				265,513


Total Common Stock

(Cost: $15,235,290)				19,741,236


PREFERRED STOCK — 0.2%

South Korea — 0.2% (Cost: $27,589)

Hyundai Motor Co.		248		41,924


Total Preferred Stock

(Cost: $27,589)				41,924


Issues	Shares		Value

MONEY MARKET INVESTMENTS — 0.0%

TCW Central Cash Fund, 3.69%^(4),(5)		11	$	11


Total Money Market Investments

(Cost: $11)				11


Total Investments (98.2%)

(Cost: $15,262,890)				19,783,171

Excess Of Other Assets Over Liabilities (1.8%)				359,145


Total Net Assets (100.0%)			$	20,142,316

Notes to the Schedule of Investments:

ADR

American Depositary Receipt. ADRs are receipts typically issued by a U.S. bank or trust company, evidencing ownership of underlying securities issued by a foreign corporation.

PJSC

Private Joint-Stock Company.

(1)

Non-income producing security.

(2)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At April 30, 2026, the value of these securities amounted to $917,526 or 4.6% 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 Company’s Board of Directors.

(3)

(4)

Affiliated issuer.

(5)

Rate disclosed is the 7-day net yield as of April 30, 2026.

The summary of the TCW White Oak Emerging Markets Equity Fund transactions in the affiliated funds for the period ended April 30, 2026 is as follows:


Name of Affiliated Fund	Value at October 31, 2025		Purchases at Cost		Proceeds from Sales		Number of Shares Held April 30, 2026		Value at April 30, 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

	$	11	$	—	$	—		11	$	11	$	—	$	—	$	—	$	—

Total									$	11	$	—	$	—	$	—	$	—

See accompanying Notes to Financial Statements.

TCW White Oak Emerging Markets Equity Fund

Fair Valuation Summary (Unaudited)

April 30, 2026

The following is a summary of the fair valuations according to the inputs used as of April 30, 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
Common Stock
Semiconductors & Semiconductor Equipment	$	107,924	$	4,774,997	$	—	$	4,882,921
Banks		674,802		1,421,854		—		2,096,656
Technology Hardware, Storage & Peripherals		—		1,429,868		—		1,429,868
Electronic Equipment, Instruments & Components		89,671		850,035		—		939,706
Broadline Retail		174,896		747,396		—		922,292
Metals & Mining		553,168		333,109		—		886,277
Interactive Media & Services		—		774,394		—		774,394
Insurance		170,962		425,184		—		596,146
Machinery		48,478		455,397		—		503,875
Capital Markets		130,267		333,928		—		464,195
Textiles, Apparel & Luxury Goods		44,550		400,946		—		445,496
Electrical Equipment		—		393,878		—		393,878
Oil, Gas & Consumable Fuels		80,835		301,690		—		382,525
Health Care Providers & Services		131,550		245,829		—		377,379
Professional Services		56,755		262,551		—		319,306
Consumer Staples Distribution & Retail		297,150		21,377		—		318,527
Aerospace & Defense		165,585		144,316		—		309,901
Automobile Components		149,045		150,560		—		299,605
Chemicals		—		284,411		—		284,411
Communications Equipment		—		232,819		—		232,819
Commercial Services & Supplies		37,305		192,689		—		229,994
Hotels, Restaurants & Leisure		—		215,963		—		215,963
Life Sciences Tools & Services		24,181		189,676		—		213,857
Entertainment		—		191,853		—		191,853
Trading Companies & Distributors		—		180,437		—		180,437
Automobiles		—		175,831		—		175,831
Wireless Telecommunication Services		—		169,491		—		169,491
Pharmaceuticals		15,900		134,057		—		149,957
Beverages		120,883		—		—		120,883
Consumer Finance		—		114,005		—		114,005
Specialty Retail		24,535		81,447		—		105,982
Financial Services		—		94,583		—		94,583
Distributors		39,294		47,952		—		87,246
Energy Equipment & Services		81,520		—		—		81,520
Transportation Infrastructure		76,654		—		—		76,654
Biotechnology		—		71,491		—		71,491
Household Durables		—		63,960		—		63,960
IT Services		—		62,418		—		62,418
Food Products		23,368		37,863		—		61,231
Office REITs		—		58,137		—		58,137
Industrial Conglomerates		—		56,306		—		56,306
Passenger Airlines		—		48,463		—		48,463
Independent Power and Renewable Electricity Producers		—		45,063		—		45,063
Ground Transportation		42,784		—		—		42,784
Health Care Equipment & Supplies		39,533		—		—		39,533
Diversified Consumer Services		—		38,385		—		38,385
Personal Care Products		—		36,095		—		36,095
Software		—		26,497		—		26,497
Retail REITs		—		22,440		—		22,440

Total Common Stock		3,401,595		16,339,641		—		19,741,236

Money Market Investments		11		—		—		11
Preferred Stock
Automobiles		—		41,924		—		41,924

Total Investments	$	3,401,606	$	16,381,565	$	—	$	19,783,171

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Assets and Liabilities (Unaudited)

April 30, 2026


	TCW Emerging Markets Income Fund			TCW Emerging Markets Local Currency Income Fund			TCW White Oak Emerging Markets Equity Fund
ASSETS
Investments, at Value⁽¹⁾	$	3,874,856,853		$	52,564,081		$	19,783,160
Investment in Affiliated Issuers, at Value⁽²⁾		219,769,999			2,420,000			11
Foreign Currency, at Value⁽³⁾		20,802,527			416,257			170,754
Cash		60,000			—			349,420
Receivable for Securities Sold		76,552,003			4,416,631			—
Receivable for Fund Shares Sold		26,047,108			2,037			104,190
Interest and Dividends Receivable		55,022,306			1,302,512			31,779
Foreign Tax Reclaims Receivable		—			—			1,043
Receivable from Investment Advisor		178,077			16,932			11,102
Unrealized Appreciation on Forward Currency Exchange Contracts		—			525,852			—
Cash Collateral Held for Brokers		—			250,000			—
Prepaid Expenses		91,208			44,478			28,925

Total Assets		4,273,380,081			61,958,780			20,480,384

LIABILITIES
Distributions Payable		6,636,305			6,844			—
Payable for Securities Purchased		133,152,846			3,730,290			138,622
Payable for Fund Shares Redeemed		31,840,352			136,357			—
Accrued Capital Gain Withholding Taxes		—			121			18,948
Accrued Directors’ Fees and Expenses		164,046			2,102			635
Deferred Accrued Directors’ Fees and Expenses		61,472			234			129
Accrued Management Fees		2,499,162			35,428			13,375
Accrued Distribution Fees		87,042			2,969			776
Options Written, at Value		—			6,966	⁽⁴⁾		—
Collateral Pledged by Brokers		60,029			—			—
Unrealized Depreciation on Forward Currency Exchange Contracts		392,037			673,885			—
Transfer Agent Fees Payable		1,041,639			28,853			39,241
Administration Fee Payable		194,866			13,785			18,557
Audit Fees Payable		24,930			21,081			73,410
Accounting Fees Payable		311,412			7,484			9,659
Custodian Fees Payable		307,690			80,201			17,913
Legal Fees Payable		50,826			911			6,705
Other Accrued Expenses		684,636			37,048			98

Total Liabilities		177,509,290			4,784,559			338,068

NET ASSETS	$	4,095,870,791		$	57,174,221		$	20,142,316

NET ASSETS CONSIST OF:
Paid-in Capital	$	6,124,453,049		$	111,398,186		$	15,466,149
Accumulated Earnings (Loss)		(2,028,582,258	)		(54,223,965	)		4,676,167

NET ASSETS	$	4,095,870,791		$	57,174,221		$	20,142,316

NET ASSETS ATTRIBUTABLE TO:
I Class Share	$	2,624,080,566		$	43,024,621		$	14,339,020

I-3 Class Share	$	1,133,107		$	—		$	1,848,542

N Class Share	$	427,234,961		$	14,149,600		$	3,954,754

Plan Class Share	$	1,043,422,157		$	—		$	—

CAPITAL SHARES OUTSTANDING:⁽⁵⁾
I Class Share		375,813,330			5,462,585			979,763

I-3 Class Share		109,904			—			152,136

N Class Share		47,391,597			1,801,182			271,011

Plan Class Share		149,525,243			—			—

NET ASSET VALUE PER SHARE:⁽⁶⁾
I Class Share	$	6.98		$	7.88		$	14.64

I-3 Class Share	$	10.31		$	—		$	12.15

N Class Share	$	9.01		$	7.86		$	14.59

Plan Class Share	$	6.98		$	—		$	—

(1)	The identified cost for the TCW Emerging Markets Income Fund, the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund at April 30, 2026 was $3,716,683,937, $51,313,888 and $15,262,879, respectively.

(2)	The identified cost for the TCW Emerging Markets Income Fund, the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund at April 30, 2026 was $219,769,999, $2,420,000 and $11, respectively.

(3)	The identified cost for the TCW Emerging Markets Income Fund, the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund at April 30, 2026 was $20,822,940, $419,250 and $171,342, respectively.

(4)	Premium received $10,558.

(5)	The number of authorized shares, with a par value of $0.001 per share is 4,000,000,000 for each of the I Class, I-3 Class, N Class and Plan Class shares.

(6)	Represents offering price and redemption price per share.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Operations (Unaudited)

Six Months Ended April 30, 2026


	TCW Emerging Markets Income Fund			TCW Emerging Markets Local Currency Income Fund			TCW White Oak Emerging Markets Equity Fund
INVESTMENT INCOME
Income:
Dividends	$	533,110		$	4,949		$	129,099	⁽¹⁾
Dividends from Investment in Affiliated Issuers		1,654,190			40,730			—
Interest		155,997,338	⁽²⁾		2,553,497	⁽²⁾		3	⁽²⁾

Total		158,184,638			2,599,176			129,102

Expenses:
Management Fees		14,535,861			209,544			70,676
Accounting Services Fees		—			4,056			2,574
Administration Fees		105,601			7,470			—
Transfer Agent Fees:
I Class		955,103			15,810			7,435
I-3 Class		1,912			—			2,006
N Class		234,522			9,066			7,322
Plan Class		147,673			—			—
Custodian Fees		144,487			27,139			1,953
Professional Fees		66,399			15,455			16,083
Directors’ Fees and Expenses		201,416			3,542			523
Registration Fees:
I Class		34,328			9,050			5,135
I-3 Class		2,126			—			1,620
N Class		14,040			8,511			5,135
Plan Class		19,103			—			—
Distribution Fees:
N Class		524,945			15,214			4,329
Compliance Expense		3,097			3,097			—
Shareholder Reporting Expense		8,941			1,638			—
Repayment of Reimbursed Expenses:
I Class		154,727			2,852			88
I-3 Class		1			—			7
N Class		19,729			685			24
Plan Class		47,986			—			—
Other		440,147			14,721			6,752

Total		17,662,144			347,850			131,662

Less Expenses Borne by Investment Advisor:
I Class		(442,871	)		(66,518	)		(29,350	)
I-3 Class		(4,031	)		—			(3,671	)
N Class		(483,674	)		(40,722	)		(17,265	)
Plan Class		(468,946	)		—			—

Net Expenses		16,262,622			240,610			81,376

Net Investment Income		141,922,016			2,358,566			47,726

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net Realized Gain (Loss) on:
Investments		59,640,299			1,656,863	⁽³⁾		167,641	⁽³⁾
Foreign Currency		(885,405	)		(86,335	)		(13,112	)
Forward Currency Exchange Contracts		966,313			250,086			—
Options written		—			14,236			—
Change in Unrealized Appreciation (Depreciation) on:
Investments		(73,843,689	)		(1,561,519	)⁽⁴⁾		2,486,255	⁽⁴⁾
Foreign Currency		(29,595	)		(10,953	)		554
Forward Currency Exchange Contracts		(1,227,032	)		(181,937	)		—
Options written		—			3,592			—

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions		(15,379,109	)		84,033			2,641,338

INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	126,542,907		$	2,442,599		$	2,689,064

(1)	Net of foreign taxes withheld of $13,649 for the TCW White Oak Emerging Markets Equity Fund.

(2)	Net of foreign taxes withheld of $1,119,351, $121,690 and $14 for the TCW Emerging Markets Income Fund, the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund

(3)	Net of capital gain withholding taxes of $9,212 and $3,382 for the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund, respectively.

(4)	Net of capital gain withholding taxes of $121 and $18,948 for the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund, respectively.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW Emerging Markets Income Fund						TCW Emerging Markets Local Currency Income Fund
	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025			Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31, 2025
OPERATIONS
Net Investment Income	$	141,922,016		$	262,721,818		$	2,358,566		$	4,259,101
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		59,721,207			71,945,342			1,834,850			(965,385	)
Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currency Transactions		(75,100,316	)		108,200,898			(1,750,817	)		4,101,789

Increase in Net Assets Resulting from Operations		126,542,907			442,868,058			2,442,599			7,395,505

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(129,785,924	)		(244,826,930	)		(1,712,202	)		(3,281,051	)

NET CAPITAL SHARE TRANSACTIONS
I Class		367,665,235			(4,518,498	)		(1,979,137	)		(4,765,202	)
I-3 Class		1,122,776			10,051	⁽¹⁾		—			—
N Class		5,267,044			(94,526,675	)		3,440,778			(2,222,853	)
Plan Class		55,081,216			65,698,781			—			—

Increase (Decrease) in Net Assets Resulting from Net Capital Shares Transactions		429,136,271			(33,336,341	)		1,461,641			(6,988,055	)

Increase (Decrease) in Net Assets		425,893,254			164,704,787			2,192,038			(2,873,601	)
NET ASSETS
Beginning of period		3,669,977,537			3,505,272,750			54,982,183			57,855,784

End of period	$	4,095,870,791		$	3,669,977,537		$	57,174,221		$	54,982,183

(1)	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Statements of Changes in Net Assets


	TCW White Oak Emerging Markets Equity Fund
	Six Months Ended April 30, 2026 (Unaudited)			Period from March 3, 2025 (Commencement of Operations) through October 31, 2025
OPERATIONS
Net Investment Income	$	47,726		$	69,617
Net Realized Gain on Investments and Foreign Currency Transactions		154,529			589,396
Change in Unrealized Appreciation on Investments and Foreign Currency Transactions		2,486,809			2,014,238

Increase in Net Assets Resulting from Operations		2,689,064			2,673,251

DISTRIBUTIONS TO SHAREHOLDERS
Distributions to Shareholders		(610,616	)		—

NET CAPITAL SHARE TRANSACTIONS
I Class		3,754,915			7,044,060
I-3 Class		1,811,220			10,000	⁽¹⁾
N Class		245,166			2,525,256

Increase in Net Assets Resulting from Net Capital Shares Transactions		5,811,301			9,579,316

Increase in Net Assets		7,889,749			12,252,567
NET ASSETS
Beginning of period		12,252,567			—

End of period	$	20,142,316		$	12,252,567

(1)	I-3 Class commenced operations on August 26, 2025.

See accompanying Notes to Financial Statements.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited)

NOTE 1 — ORGANIZATION

TCW Funds, Inc., a Maryland corporation (the “Company”), is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). As of April 30, 2026, the Company consisted of 12 no-load mutual funds (each series, a “Fund” and collectively, the “Funds”). TCW Investment Management Company LLC (the “Advisor”) is the investment advisor to and an affiliate of the Funds and is registered under the Investment Advisers Act of 1940, as amended. The Advisor and White Oak also entered into a Subadvisory Agreement under the terms of which the Advisor has employed White Oak Capital Partners Pte. Ltd. on behalf of the TCW White Oak Emerging Markets Equity Fund. Each Fund has its own investment objective and strategies. The following is a brief description of the investment objectives and principal investment strategies for the Funds that are covered in this report:


TCW Fund		Investment Objectives and Principal Investment Strategies
Diversified Fixed Income Fund

TCW Emerging Markets Income Fund		Seeks high total return from current income and capital appreciation by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued or guaranteed by companies, financial institutions and government entities in emerging market countries. The Fund generally invests in at least four emerging market countries.
Non-Diversified Fixed Income Fund

TCW Emerging Markets Local Currency Income Fund		Seeks to provide high total return from current income and capital appreciation through investment in debt securities denominated in the local currencies of various emerging market countries by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued or guaranteed by non-financial companies, financial institutions and government entities in emerging market countries denominated in the local currencies of an issuer, and in derivative instruments that provide investment exposure to such securities.
Diversified Equity Fund

TCW White Oak Emerging Markets Equity Fund		Seeks to provide long-term capital appreciation by investing at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity and equity-related transferable securities that provide exposure to companies that are domiciled in, or that derive a predominant proportion of their value from, emerging market countries.

The TCW Emerging Markets Local Currency Income Fund offers two classes of shares: I Class and N Class. The TCW Emerging Markets Income Fund offers four classes of shares: I Class, I-3 Class, N Class and Plan Class. TCW White Oak Emerging Markets Equity Fund offers three classes of shares: I Class, I-3 Class and N Class. As of August 25, 2025, each of TCW Emerging Markets Income Fund and TCW White Oak Emerging Markets Equity Fund also offers I-3 Class shares. Each class of a Fund is substantially the same except that the N Class shares are subject to a distribution fee (see Note 7).

TCW Funds, Inc.

April 30, 2026

NOTE 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.

Security Valuations: Securities listed or traded on the NYSE and other stock exchanges were valued at the latest sale price on the exchange. Securities traded on the NASDAQ stock market (“NASDAQ”) were valued during the period using official closing prices as reported by NASDAQ, which may not have been the last sale price. Investments in open-end mutual funds including money market funds were valued based on the NAV per share as reported by the investment companies. All other securities for which over the-counter (“OTC”) market quotations were readily available, including short-term securities, swap agreements and forward currency exchange contracts, were valued with prices furnished by independent pricing services or by broker-dealers.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

in pricing the asset or liability, developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the inputs market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad levels listed below.


Level 1 —		quoted prices in active markets for identical investments.
Level 2 —		other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3 —		significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).

Fair Value Measurements: Descriptions of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Corporate bonds. The fair value of corporate bonds is estimated using recently executed transactions, market price quotations (where observable), bond spreads, or credit default swap spreads adjusted for any basis difference between cash and derivative instruments. Corporate bonds are generally categorized 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, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps would be categorized as Level 2; otherwise, the fair values would be categorized as Level 3.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

Short-term investments. Short-term investments are valued using market price quotations, and are categorized as Level 1 or Level 2 of the fair value hierarchy.

U.S. and foreign government and agency securities. Government and agency securities are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. Accordingly, U.S. and foreign government and agency securities are normally categorized as Level 1 or 2 of the fair value hierarchy depending on the liquidity and transparency of the market.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

The summary of the fair valuations according to the inputs used as of April 30, 2026 in valuing the Funds’ investments is listed after the Schedule of Investments for each Fund.

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:


TCW White Oak Emerging Markets Equity Fund	Common Stock			Total
Balance as of October 31, 2025	$	141		$	141
Accrued Discounts (Premiums)		—			—
Realized Gain (Loss)		7,337			7,337
Change in Unrealized Appreciation (Depreciation)		(141	)		(141	)
Purchases		—			—
Sales		(7,337	)		(7,337	)
Transfers into Level 3*		—			—
Transfers out of Level 3*		—			—

Balance as of April 30, 2026	$	—		$	—

Change in Unrealized Appreciation (Depreciation) from Investments Still Held at April 30, 2026	$	—		$	—

*	Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

Dividends and Distributions: Dividends and distributions to shareholders are recorded on the ex-dividend date. The TCW Emerging Markets Income Fund and the TCW Emerging Markets Local Currency Income Fund declare and pay, or reinvest, dividends from net investment income monthly. The TCW White Oak Emerging Markets Equity Fund declares and pays, or reinvests, dividends from net investment income annually. Capital gains realized by a Fund will be distributed at least annually.

Use of Estimates: The preparation of the accompanying financial statements requires management to make estimates and assumptions that affect the reported amount of assets and

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.

For the period ended April 30, 2026, the following Funds had derivatives and transactions in derivatives, grouped in the following risk categories:

TCW Emerging Markets Income Fund


	Foreign Currency Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Investments⁽¹⁾	$	1,052,136		$	1,052,136

Total Value	$	1,052,136		$	1,052,136

Liability Derivatives
Forward Currency Exchange Contracts	$	(392,037	)	$	(392,037	)

Total Value	$	(392,037	)	$	(392,037	)

Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	966,313		$	966,313
Investments⁽²⁾		(1,770,379	)		(1,770,379	)

Net Realized Gain (Loss)	$	(804,066	)	$	(804,066	)

Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	(1,227,032	)	$	(1,227,032	)
Investments⁽³⁾		(72,351	)		(72,351	)

Net Change in Appreciation (Depreciation)	$	(1,299,383	)	$	(1,299,383	)

Number of Contracts, Notional Amounts or Shares/Units⁽⁴⁾
Forward Currency Exchange Contracts		51,929,082			51,929,082
Options Purchased		185,669,500			185,669,500

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)


TCW Emerging Markets Local Currency Income Fund
	Foreign Currency Risk			Total
Statement of Assets and Liabilities:
Asset Derivatives
Investments⁽¹⁾	$	156,242		$	156,242
Forward Currency Exchange Contracts		525,852			525,852

Total Value	$	682,094		$	682,094

Liability Derivatives
Forward Currency Exchange Contracts	$	(673,885	)	$	(673,885	)
Options Written		(6,966	)		(6,966	)

Total Value	$	(680,851	)	$	(680,851	)

Statement of Operations:
Net Realized Gain (Loss)
Forward Currency Exchange Contracts	$	250,086		$	250,086
Options Written		14,236			14,236

Net Realized Gain (Loss)	$	264,322		$	264,322

Net Change in Appreciation (Depreciation)
Forward Currency Exchange Contracts	$	(181,937	)	$	(181,937	)
Investments⁽³⁾		96,825			96,825
Options Written		3,592			3,592

Net Change in Appreciation (Depreciation)	$	(81,520	)	$	(81,520	)

Number of Contracts, Notional Amounts or Shares/Units⁽⁴⁾
Forward Currency Exchange Contracts		37,803,297			37,803,297
Options Purchased		5,189,000			5,189,000
Options Written		2,111,333			2,111,333

(1)	Represents purchased options, at value.

(2)	Represents realized gain (loss) for purchased options.

(3)	Represents change in unrealized appreciation (depreciation) for purchased options during the period.

(4)	Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the period ended April 30, 2026.

Counterparty Credit Risk: Derivative contracts may be exposed to counterparty risk. Losses can occur if the counterparty does not perform under the contract.

The Funds’ risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Funds.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

For OTC derivatives the Funds mitigate their counterparty risk by entering into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with each counterparty. An ISDA Master Agreement is a bilateral agreement between the Funds 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, the Funds 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 declines by a stated percentage or a 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.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

default or termination giving a Fund or counterparty the right to terminate early and cause settlement, on a net basis, of all transactions under the applicable Master Agreement. In the event of an early termination as a result of an event of default under the Master Agreement, the total value exposure of all transactions will be offset against collateral exchanged to date, which would result in a net receivable or payable that would be due from or to the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in the event of a bankruptcy or insolvency of the counterparty. Credit-related events include, but are not limited to, bankruptcy, failure to make timely payments, restructuring, obligation acceleration, obligation default, a material decline in net assets, decline in credit rating or repudiation/moratorium. Any election made by a counterparty to early terminate the transactions under a Master Agreement could have a material adverse impact on a Fund’s financial statements. A Fund’s overall exposure to credit risk, subject to netting arrangements can change substantially within a short period, as it is affected by each transaction subject to the arrangement.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions under the relevant Master Agreement with a counterparty in a given Fund exceeds a specified threshold, net of collateral already in place, typically $250,000 or $500,000 depending on the counterparty and the type of Master Agreement. Collateral under the Master Agreements is usually in the form of cash or U.S. Treasury Bills but could include other types of securities. If permitted under the Master Agreement, certain funds may rehypothecate cash collateral received from a counterparty. The value of all derivative transactions outstanding under a Master Agreement is calculated daily to determine the amount of collateral to be received or pledged by the counterparty. Posting of collateral for OTC derivatives transactions are covered under tri-party collateral agreements between the Fund, the Fund’s custodian, and each counterparty. Collateral for centrally cleared derivatives transactions are posted with the applicable derivatives clearing organization.

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 April 30, 2026:

TCW Emerging Markets Income Fund


Counterparty	Gross Assets Subject to Master Agreements		Collateral Received⁽¹⁾		Derivatives Assets/(Liabilities) Available for Offset		Net Amount of Assets⁽²⁾
BNP Paribas S.A.
Purchased Options	$	1,052,136	$	—	$	—	$	1,052,136

Total	$	1,052,136	$	—	$	—	$	1,052,136


Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged⁽¹⁾		Derivatives (Assets)/Liabilities Available for Offset		Net Amount of Liabilities⁽³⁾
UBS AG
Forward Currency Exchange Contracts	$	392,037	$	—	$	—	$	392,037

Total	$	392,037	$	—	$	—	$	392,037

⁽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.

TCW Funds, Inc.

April 30, 2026

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (Continued)

TCW Emerging Markets Local Currency 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 N.A.
Purchased Options	$	109,229	$	—	$	(12,465	)	$	96,764
BNP Paribas S.A.
Forward Currency Exchange Contracts		119,725		—		(64,028	)		55,697
Citibank N.A.
Forward Currency Exchange Contracts		15,815		—		(15,815	)		—
Goldman Sachs & Co.
Forward Currency Exchange Contracts		122,892		—		(14,212	)		108,680
Goldman Sachs & Co.
Purchased Options		47,013		—		—			47,013
HSBC Bank PLC
Forward Currency Exchange Contracts		138,055		—		(1,408	)		136,647
ING Baring U.S. Capital Markets
Forward Currency Exchange Contracts		18,438		—		(18,438	)		—
Standard Chartered Bank
Forward Currency Exchange Contracts		73,581		—		(22,225	)		51,356
State Street Bank & Trust Co.
Forward Currency Exchange Contracts		37,346		—		(37,346	)		—

Total	$	682,094	$	—	$	(185,937	)	$	496,157


Counterparty	Gross Liabilities Subject to Master Agreements		Collateral Pledged⁽¹⁾		Derivatives (Assets)/Liabilities Available for Offset			Net Amount of Liabilities⁽³⁾
Bank of America N.A.
Forward Currency Exchange Contracts	$	12,465	$	—	$	(12,465	)	$	—
Barclays Capital
Forward Currency Exchange Contracts		353,038		—		—			353,038
BNP Paribas S.A.
Forward Currency Exchange Contracts		64,028		—		(64,028	)		—
Citibank N.A.
Forward Currency Exchange Contracts		34,173		—		(15,815	)		18,358
Deutsche Bank AG
Forward Currency Exchange Contracts		5,964		—		—			5,964
Goldman Sachs & Co.
Forward Currency Exchange Contracts		14,212		—		(14,212	)		—
Goldman Sachs & Co.
Written Options		6,966		—		—			6,966
HSBC Bank PLC
Forward Currency Exchange Contracts		1,408		—		(1,408	)		—
ING Baring U.S. Capital Markets
Forward Currency Exchange Contracts		22,590		—		(18,438	)		4,152
JP Morgan Chase Bank
Forward Currency Exchange Contracts		7,622		—		—			7,622
Morgan Stanley & Co.
Forward Currency Exchange Contracts		8,430		—		—			8,430
Standard Chartered Bank
Forward Currency Exchange Contracts		22,225		—		(22,225	)		—
State Street Bank & Trust Co.
Forward Currency Exchange Contracts		127,730		—		(37,346	)		90,384

Total	$	680,851	$	—	$	(185,937	)	$	494,914

⁽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.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 3 — PORTFOLIO INVESTMENTS

When-Issued, Delayed-Delivery, and Forward Commitment Transactions: The Funds may enter into when-issued, delayed-delivery, or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of each Fund’s existing portfolio. In when-issued, delayed-delivery, or forward commitment transactions, a Fund commits to purchase or sell particular securities, with payment and delivery to take place at a future date. Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If a 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 the Fund may have missed an opportunity to make an alternative investment.

Prior to settlement of these transactions, the value of the subject securities will fluctuate with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery, or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them.

Repurchase Agreements: The Funds may enter into repurchase agreements under the terms of a Master Repurchase Agreement (“MRA”). In a repurchase agreement, the Funds purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. The MRA permits each Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from each Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA 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. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Fund’s obligation under bankruptcy law to return the excess to the counterparty. There were no repurchase agreements outstanding as of April 30, 2026.

Participation Notes: The Funds may invest in participation notes of equity-linked instruments (collectively, participation notes), through which a counterparty provides exposure to common stock, in the form of an unsecured interest, in markets where direct investment by a Fund is not possible. Participation notes provide the economic benefit of common stock ownership to a Fund, while legal ownership and voting rights are retained by the counterparty. Although participation notes are usually structured with a defined maturity or termination date, early redemption may be possible. Risks associated with participation notes include possible failure of the counterparty to perform in accordance with the terms of the agreement, inability to transfer or liquidate the notes, potential delays or an inability to redeem before maturity under certain market conditions, and limited legal recourse against the issuer of the underlying common stock. None of the Funds held participation notes as of April 30, 2026.

Securities Lending: The Funds may lend their securities to qualified brokers. The loans must be collateralized at all times primarily with cash although the Funds can accept money market

TCW Funds, Inc.

April 30, 2026

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

instruments or U.S. Government securities with a market value at least equal to the market value of the securities on loan. As with any extensions of credit, the Funds may bear the risk of delay in recovery or even loss of rights in the collateral if the borrowers of the securities fail financially. The Funds earn additional income for lending their securities by investing the cash collateral in short-term investments. The Funds did not lend any securities during the period ended April 30, 2026.

Derivatives:

Forward Currency Exchange Contracts: The Funds enter into forward currency exchange contracts as a hedge against fluctuations in foreign exchange rates. Forward currency exchange contracts are marked-to market daily and the change in market value is recorded by the Funds as unrealized gains or losses in the Statement of Assets and Liabilities. When a contract is closed or delivery is taken, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the U.S. dollar. Outstanding forward currency exchange contracts at April 30, 2026 are disclosed in the Schedule of Investments.

Futures Contracts: The Funds may enter into futures contracts. A Fund may seek to manage a variety of different risks through the use of futures contracts, such as interest rate risk, equity price risk, and currency risk. A Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk. Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by a Fund as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of a Fund that is the subject of the hedge. It may not always be possible for a Fund to enter into a closing transaction with respect to a futures contract it has entered into at a favorable time or price. When a Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it.

When a Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Futures contracts outstanding at April 30, 2026 are disclosed in the Schedule of Investments.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

During the period ended April 30, 2026, the TCW Emerging Markets Income Fund and the TCW Emerging Markets Local Currency Income Fund entered into options to hedge the currency exposure of the Funds.

TCW Funds, Inc.

April 30, 2026

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

In a total return swap, one party typically agrees to pay to the other a short-term interest rate in return for a payment at one or more times in the future based on the increase in the value of an underlying security or other asset, or index of securities or assets; if the underlying security, asset, or index declines in value, the party that pays the short-term interest rate must also pay to its counterparty a payment based on the amount of the decline. A Fund may take either side of such a swap, and so may take a long or short position in the underlying security, asset, or index. A Fund may enter into a total return swap to hedge against an exposure in its portfolio — such as interest rate risk (including to adjust the duration or credit quality of a Fund’s bond portfolio), equity risk, or credit risk — or generally to put cash to work efficiently in the markets in anticipation of, or as a replacement for, cash investments. A Fund may also enter into a total return swap to gain exposure to securities or markets in which it might not be able to invest directly (in so-called market access transactions).

A Fund may enter into credit default swap transactions as a “buyer” or “seller” of credit protection. In a credit default swap, one party provides what is in effect insurance against a default or other adverse credit event affecting an issuer of debt securities (typically referred to as a “reference entity”). In general, the buyer of credit protection is obligated to pay the protection seller an upfront amount or a periodic stream of payments over the term of the swap. If a “credit event” occurs, the buyer has the right to deliver to the seller bonds or other obligations of the reference entity (with a value up to the full notional value of the swap), and to receive a payment equal to the par value of the bonds or other obligations. Credit events that would trigger a request that the seller make payment are specific to each credit default swap agreement, but generally include bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. When a Fund buys protection, it may or may not own securities of the reference entity. When a Fund sells protection under a credit default swap, the position may have the effect of creating leverage in the Fund’s portfolio through the Fund’s indirect long exposure to the issuer or securities on which the swap is written. When a Fund sells protection, it may do so either to earn additional income or to create such a “synthetic” long position.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 3 — PORTFOLIO INVESTMENTS (Continued)

index on which the swap is written. When a Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and a Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.

NOTE 4 — RISK CONSIDERATIONS

TCW Funds, Inc.

April 30, 2026

NOTE 4 — RISK CONSIDERATIONS (Continued)

be available in all circumstances and there can be no assurance that the Funds will achieve their objective through the use of the derivatives.

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 a 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.

Counterparty Risk: The Funds may be exposed to counterparty risk, the risk that an entity with which the Funds have unsettled or open transactions may not fulfill its obligations.

Foreign and Developing/Emerging Markets 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. The Funds are also subject to risks associated with financial, economic and other global market developments and disruptions, including those arising from war, terrorism, market manipulation, government interventions, defaults and shutdowns, and political changes or diplomatic developments, which can all negatively impact the securities markets and cause a Fund to lose value. As one current example, Russia’s recent military incursions in Ukraine have led to sanctions being levied against Russia by the United States, European Union and other countries, which has adversely affected European and global energy and financial markets and thus could affect the value of a Fund’s investments.

Non-U.S. Sovereign Debt Risk: Each Fund may invest a significant portion of its assets in non-U.S. sovereign debt. These investments can involve a high degree of risk. Legal protections available with respect to corporate issuers (e.g., bankruptcy, liquidation and reorganization laws) do not generally apply to governmental entities or sovereign debt. Accordingly, creditor seniority rights, claims to collateral and similar rights may provide limited protection and may be unenforceable. The governmental entity that controls the repayment of a non-U.S. sovereign debt may not be able or willing to repay the principal and/ or interest when due in accordance with the terms of such debt. A Fund may have limited recourse to compel payment in the event of a default. Changes to the financial condition or credit rating of a non-U.S.government may cause the value of a non-U.S. sovereign debt obligation to decline. During periods of economic uncertainty, the market prices of non-U.S. sovereign debt may be more volatile than prices of corporate debt obligations. Investing in non-U.S. sovereign debt obligations is generally subject to heightened risk as compared to investing in U.S. government debt obligations. Several countries have defaulted on their sovereign debt obligations in the past or encountered downgrades of their sovereign debt obligations, and those and other countries may also default on or experience downgrades or further downgrades of their sovereign debt obligations in the future.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 4 — RISK CONSIDERATIONS (Continued)

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 our portfolio securities to suppliers or customers, increase their supply-chain costs and expenses and could have material adverse effects on our portfolio investments.

NOTE 5 — FEDERAL INCOME TAXES

At April 30, 2026, net unrealized appreciation (depreciation) on investments for federal income tax purposes was as follows:


	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)			Cost of Investments for Federal Income Tax Purposes
TCW Emerging Markets Income Fund	$	286,669,487	$	(112,652,797	)	$	174,016,690		$	3,919,558,026
TCW Emerging Markets Local Currency Income Fund		2,549,223		(2,779,215	)		(229,992	)		55,057,831
TCW White Oak Emerging Markets Equity Fund		5,368,988		(872,719	)		4,496,269			15,286,902

At October 31, 2025, the components of distributable earnings on a tax basis were as follows:


	Undistributed Ordinary Income		Undistributed Long-Term Gain		Total Distributable Earnings
TCW Emerging Markets Income Fund	$	28,156,998	$	—	$	28,156,998
TCW Emerging Markets Local Currency Income Fund		251,922		—		251,922
TCW White Oak Emerging Markets Equity Fund		603,753		—		603,753

During the year ended October 31, 2025, the tax character of distributions paid was as follows:


	Ordinary Income		Long-Term Capital Gain		Return of Capital gain		Total Distributions
TCW Emerging Markets Income Fund	$	244,826,930	$	—	$	—	$	244,826,930
TCW Emerging Markets Local Currency Income Fund		3,281,051		—		—		3,281,051

At October 31, 2025, the following Funds had net realized losses that will be carried forward indefinitely for federal income tax purposes:


	Short-Term Capital Losses		Long-Term Capital Losses		Total
TCW Emerging Markets Income Fund	$	1,330,752,049	$	946,614,798	$	2,277,366,847
TCW Emerging Markets Local Currency Income Fund		32,004,762		24,419,124		56,423,886

TCW Funds, Inc.

April 30, 2026

NOTE 6 — FUND MANAGEMENT FEES AND OTHER EXPENSES

The Funds pay to the Advisor, as compensation for services rendered, facilities furnished and expenses borne by it, the following annual management fees as a percentage of daily net assets:


TCW Emerging Markets Income Fund	0.75	%
TCW Emerging Markets Local Currency Income Fund	0.75	%
TCW White Oak Emerging Markets Equity Fund	0.90	%

The Advisor has employed White Oak on behalf of the TCW White Oak Emerging Markets Equity Fund to provide investment advisory and management services. The Advisor, and not the TCW White Oak Emerging Markets Equity Fund, is responsible for payment of the subadvisory fees to White Oak. The Advisor pays White Oak a tiered percentage of the advisory fees received by the Advisor with respect to the TCW White Oak Emerging Markets Equity Fund.

The Advisor limits the operating expenses of the Funds not to exceed the following expense ratios relative to the Funds’ average daily net assets:


TCW Emerging Markets Income Fund
I Class	0.85	% ⁽¹⁾
I-3 Class	0.92	% ⁽¹⁾
N Class	0.95	% ⁽¹⁾
Plan Class	0.77	% ⁽¹⁾
TCW Emerging Markets Local Currency Income Fund
I Class	0.85	% ⁽¹⁾
N Class	0.90	% ⁽¹⁾
TCW White Oak Emerging Markets Equity Fund
I Class	0.98	% ⁽¹⁾
I-3 Class	1.15	% ⁽¹⁾
N Class	1.23	% ⁽¹⁾

(1)	These limitations are based on an agreement between the Advisor and Company.

Any advisory fee reduced or withheld, or expense reimbursement paid, pursuant to the Expense Limitation Agreement by or from the Advisor shall be reimbursed by the appropriate Fund to the Advisor in the first, second or third fiscal year after the fiscal year of the reduction or reimbursement to the extent approved by the disinterested Directors. The Advisor may not request or receive reimbursement for previous reductions or reimbursements before payment of a Fund’s operating expenses for the current year and cannot cause a Fund to exceed the expense limitation in effect for that Fund (i) at the time the fees and expenses would have been incurred or (ii) at the time the Advisor would recoup that reduction or reimbursement. In addition, any recoupment may not exceed any more restrictive limitation to which the Advisor has agreed.

At April 30, 2026, the balance of recoupable expenses with expiration dates for the Funds were as follows:


Fund	Expires 10/31/2027		Expires 10/31/2028		Expires 10/31/2029		Total
TCW Emerging Markets Income Fund	$	2,046,388	$	2,787,595	$	1,327,281	$	6,161,264
TCW Emerging Markets Local Currency Income Fund		309,777		241,458		103,702		654,937
TCW White Oak Emerging Markets Equity Fund		—		178,802		50,167		228,969

Total	$	2,356,165	$	3,207,855	$	1,481,150	$	7,045,170

During the period ended April 30, 2026, the Advisor recouped $222,443, $3,537 and $119 from TCW Emerging Markets Income Fund, TCW Emerging Markets Local Currency Income Fund and TCW White Oak Emerging Markets Equity Fund, respectively.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 6 — FUND MANAGEMENT FEES AND OTHER EXPENSES (Continued)

NOTE 7 — DISTRIBUTION PLAN

NOTE 8 — PURCHASES AND SALES OF SECURITIES

Investment transactions (excluding short-term investments) for the six months period ended April 30, 2026 were as follows:


	Purchases at Cost		Sales or Maturity Proceeds
TCW Emerging Markets Income Fund	$	1,497,292,909	$	1,464,394,526
TCW Emerging Markets Local Currency Income Fund		30,832,651		33,100,744
TCW White Oak Emerging Markets Equity Fund		7,339,054		2,354,174

NOTE 9 — CAPITAL SHARE TRANSACTIONS

Transactions in each Fund’s shares were as follows:


TCW Emerging Markets Income Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		104,850,828		$	734,571,418			103,240,047		$	688,044,970
Shares Issued upon Reinvestment of Dividends		9,115,290			63,490,889			17,270,324			113,713,235
Shares Redeemed		(61,845,589	)		(430,397,072	)		(122,128,708	)		(806,276,703	)

Net Increase (Decrease)		52,120,529		$	367,665,235			(1,618,337	)	$	(4,518,498	)


I-3 Class ⁽¹⁾	Shares			Amount			Shares			Amount
Shares Sold		108,858		$	1,122,359			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		41			417			5			51

Net Increase		108,899		$	1,122,776			1,005		$	10,051

TCW Funds, Inc.

April 30, 2026

NOTE 9 — CAPITAL SHARE TRANSACTIONS (Continued)


TCW Emerging Markets Income Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount

I-3 Class ⁽¹⁾	Shares			Amount			Shares			Amount

N Class	Shares			Amount			Shares			Amount
Shares Sold		2,060,509		$	18,482,640			4,909,205		$	41,902,232
Shares Issued upon Reinvestment of Dividends		1,755,003			15,779,256			3,748,469			31,837,790
Shares Redeemed		(3,216,640	)		(28,994,852	)		(19,820,754	)		(168,266,697	)

Net Increase (Decrease)		598,872		$	5,267,044			(11,163,080	)	$	(94,526,675	)


Plan Class	Shares			Amount			Shares			Amount
Shares Sold		15,301,062		$	107,148,679			28,993,460		$	193,341,092
Shares Issued upon Reinvestment of Dividends		3,663,564			25,499,047			5,848,603			38,512,232
Shares Redeemed		(11,132,349	)		(77,566,510	)		(25,157,582	)		(166,154,543	)

Net Increase		7,832,277		$	55,081,216			9,684,481		$	65,698,781

(1)	I-3 Class commenced operations on August 26, 2025.


TCW Emerging Markets Local Currency Income Fund	Six Months Ended April 30, 2026 (Unaudited)						Year Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		462,442		$	3,707,752			2,037,003		$	14,958,174
Shares Issued upon Reinvestment of Dividends		192,319			1,519,930			354,469			2,593,317
Shares Redeemed		(900,416	)		(7,206,819	)		(3,058,852	)		(22,316,693	)

Net Decrease		(245,655	)	$	(1,979,137	)		(667,380	)	$	(4,765,202	)


N Class	Shares			Amount			Shares			Amount
Shares Sold		623,762		$	4,919,254			110,685		$	808,807
Shares Issued upon Reinvestment of Dividends		54,020			425,680			89,614			654,590
Shares Redeemed		(242,627	)		(1,904,156	)		(500,975	)		(3,686,250	)

Net Increase (Decrease)		435,155		$	3,440,778			(300,676	)	$	(2,222,853	)


TCW White Oak Emerging Markets Equity Fund⁽¹⁾	Six Months Ended April 30, 2026 (Unaudited)						Period Ended October 31, 2025
I Class	Shares			Amount			Shares			Amount
Shares Sold		255,719		$	3,283,778			1,022,432		$	10,797,499
Shares Issued upon Reinvestment of Dividends		37,618			475,120			—			—
Shares Redeemed		(274	)		(3,983	)		(335,732	)		(3,753,439	)

Net Increase		293,063		$	3,754,915			686,700		$	7,044,060


I-3 Class⁽²⁾	Shares			Amount			Shares			Amount
Shares Sold		152,087		$	1,822,759			1,000		$	10,000
Shares Issued upon Reinvestment of Dividends		50			520			—			—
Shares Redeemed		(1,001	)		(12,059	)		—			—

Net Increase		151,136		$	1,811,220			1,000		$	10,000


N Class	Shares			Amount			Shares			Amount
Shares Sold		8,539		$	113,734			253,017		$	2,536,586
Shares Issued upon Reinvestment of Dividends		10,436			131,488			—			—
Shares Redeemed		(4	)		(56	)		(977	)		(11,330	)

Net Increase		18,971		$	245,166			252,040		$	2,525,256

(1)	The Fund commenced operations on March 3, 2025.

(2)	I-3 Class commenced operations on August 26, 2025.

TCW Funds, Inc.

Notes to Financial Statements (Unaudited) (Continued)

NOTE 10 — AFFILIATE OWNERSHIP

As of April 30, 2026, affiliates of the Funds and Advisor owned 8.09% and 59.40% of the net assets of the TCW Emerging Markets Local Currency Income Fund and the TCW White Oak Emerging Markets Equity Fund, respectively.

NOTE 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 Company considers 144A securities to be restricted if those securities have been deemed illiquid. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. There were no restricted securities held by the Funds at April 30, 2026.

NOTE 12 — COMMITTED LINE OF CREDIT

NOTE 13 — INDEMNIFICATIONS

NOTE 14 — 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

TCW Funds, Inc.

April 30, 2026

NOTE 14 — SEGMENT REPORTING (Continued)

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 are 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”), which acts in accordance with Board of Director 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 Statements of Operations.

NOTE 15 — RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 16 — SUBSEQUENT EVENTS

TCW Emerging Markets Income Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	6.98		$	6.59		$	5.84		$	5.67		$	7.87		$	7.93

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.25			0.50			0.50			0.41			0.33			0.35
Net Realized and Unrealized Gain (Loss) on Investments		(0.02	)		0.35			0.61			0.09			(2.22	)		(0.02	)

Total from Investment Operations		0.23			0.85			1.11			0.50			(1.89	)		0.33

Less Distributions:
Distributions from Net Investment Income		(0.23	)		(0.46	)		(0.36	)		(0.33	)		(0.28	)		(0.37	)
Distributions from Return of Capital		—			—			—			—			(0.03	)		(0.02	)

Total Distributions		(0.23	)		(0.46	)		(0.36	)		(0.33	)		(0.31	)		(0.39	)

Net Asset Value per Share, End of period	$	6.98		$	6.98		$	6.59		$	5.84		$	5.67		$	7.87

Total Return		3.36	% ⁽²⁾		13.58	%		19.27	%		8.72	%		(24.47	%)		4.04	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	2,624,081		$	2,259,689		$	2,143,263		$	2,097,432		$	2,500,689		$	4,720,489

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.88	% ⁽³⁾		0.90	%		0.87	%		0.85	%		0.90	%		0.85	%

After Expense Reimbursement		0.85	% ⁽³⁾		0.85	%		0.85	%		0.82	%		0.85	%		N/A

Ratio of Net Investment Income to Average Net Assets		7.32	% ⁽³⁾		7.49	%		7.82	%		6.80	%		4.79	%		4.23	%

Portfolio Turnover Rate ⁽⁴⁾		41.91	% ⁽²⁾		66.81	%		106.48	%		152.31	%		119.10	%		150.31	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Emerging Markets Income Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.30		$	10.00	⁽¹⁾

Income (Loss) from Investment Operations:
Net Investment Income ⁽²⁾		0.31			0.19
Net Realized and Unrealized Gain on Investments		0.04			0.21

Total from Investment Operations		0.35			0.40

Less Distributions:
Distributions from Net Investment Income		(0.34	)		(0.10	)

Total Distributions		(0.34	)		(0.10	)

Net Asset Value per Share, End of period	$	10.31		$	10.30

Total Return		3.42	% ⁽³⁾		4.03	% ⁽⁴⁾

Ratios/Supplemental data:

Net Assets, End of period (in thousands)	$	1,133		$	10

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		73.88	% ⁽⁵⁾		1.12	% ⁽⁵⁾

After Expense Reimbursement		0.92	% ⁽⁵⁾		0.92	% ⁽⁵⁾

Ratio of Net Investment Income to Average Net Assets		6.10	% ⁽⁵⁾		10.53	% ⁽⁵⁾

Portfolio Turnover Rate ⁽⁶⁾		41.91	% ⁽³⁾		66.81	% ⁽⁴⁾

(1)	I-3 Class commenced operations on August 26, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	For the six months ended April 30, 2026 and not indicative of a full year’s results.

(4)	Not annualized.

(5)	Annualized.

(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.

TCW Emerging Markets Income Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	9.01		$	8.51		$	7.53		$	7.32		$	10.16		$	10.23

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.32			0.63			0.64			0.53			0.41			0.44
Net Realized and Unrealized Gain (Loss) on Investments		(0.03	)		0.46			0.79			0.10			(2.86	)		(0.03	)

Total from Investment Operations		0.29			1.09			1.43			0.63			(2.45	)		0.41

Less Distributions:
Distributions from Net Investment Income		(0.29	)		(0.59	)		(0.45	)		(0.42	)		(0.36	)		(0.46	)
Distributions from Return of Capital		—			—			—			—			(0.03	)		(0.02	)

Total Distributions		(0.29	)		(0.59	)		(0.45	)		(0.42	)		(0.39	)		(0.48	)

Net Asset Value per Share, End of period	$	9.01		$	9.01		$	8.51		$	7.53		$	7.32		$	10.16

Total Return		3.42	% ⁽²⁾		13.42	%		19.33	%		8.48	%		(24.57	)%		3.97	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	427,235		$	421,717		$	492,916		$	443,173		$	390,155		$	546,887

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.17	% ⁽³⁾		1.16	%		1.15	%		1.15	%		1.17	%		1.13	%

After Expense Reimbursement		0.94	% ⁽³⁾		0.95	%		0.95	%		0.95	%		0.95	%		0.95	%

Ratio of Net Investment Income to Average Net Assets		7.20	% ⁽³⁾		7.42	%		7.72	%		6.70	%		4.72	%		4.20	%

Portfolio Turnover Rate ⁽⁴⁾		41.91	% ⁽²⁾		66.81	%		106.48	%		152.31	%		119.10	%		150.31	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Emerging Markets Income Fund

Financial Highlights — Plan Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	6.98		$	6.58		$	5.83		$	5.67		$	7.86		$	7.93

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.26			0.50			0.51			0.42			0.33			0.36
Net Realized and Unrealized Gain (Loss) on Investments		(0.03	)		0.37			0.60			0.07			(2.20	)		(0.04	)

Total from Investment Operations		0.23			0.87			1.11			0.49			(1.87	)		0.32

Less Distributions:
Distributions from Net Investment Income		(0.23	)		(0.47	)		(0.36	)		(0.33	)		(0.29	)		(0.37	)
Distributions from Return of Capital		—			—			—			—			(0.03	)		(0.02	)

Total Distributions		(0.23	)		(0.47	)		(0.36	)		(0.33	)		(0.32	)		(0.39	)

Net Asset Value per Share, End of period	$	6.98		$	6.98		$	6.58		$	5.83		$	5.67		$	7.86

Total Return		3.40	% ⁽²⁾		13.66	%		19.57	%		8.63	%		(24.41	%)		4.12	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	1,043,422		$	988,561		$	869,094		$	998,832		$	1,035,971		$	1,996,103

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		0.86	% ⁽³⁾		0.86	%		0.83	%		0.82	%		0.81	%		0.80	%

After Expense Reimbursement		0.77	% ⁽³⁾		0.77	%		0.77	%		0.77	%		0.77	%		0.77	%

Ratio of Net Investment Income to Average Net Assets		7.38	% ⁽³⁾		7.56	%		7.86	%		6.87	%		4.86	%		4.43	%

Portfolio Turnover Rate ⁽⁴⁾		41.91	% ⁽²⁾		66.81	%		106.48	%		152.31	%		119.10	%		150.31	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Emerging Markets Local Currency Income Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	7.78		$	7.20		$	7.03		$	6.50		$	8.47		$	8.57

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.33			0.56			0.50			0.43			0.35			0.37
Net Realized and Unrealized Gain (Loss) on Investments		0.01			0.46			0.09			0.35			(2.06	)		(0.25	)

Total from Investment Operations		0.34			1.02			0.59			0.78			(1.71	)		0.12

Less Distributions:
Distributions from Net Investment Income		(0.24	)		(0.44	)		(0.36	)		(0.25	)		(0.10	)		(0.22	)
Distributions from Return of Capital		—			—			(0.06	)		—			(0.16	)		—

Total Distributions		(0.24	)		(0.44	)		(0.42	)		(0.25	)		(0.26	)		(0.22	)

Net Asset Value per Share, End of period	$	7.88		$	7.78		$	7.20		$	7.03		$	6.50		$	8.47

Total Return		4.43	% ⁽²⁾		14.71	%		8.40	%		11.92	%		(20.57	%)		1.34	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	43,025		$	44,388		$	45,886		$	106,740		$	101,530		$	200,019

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.15	% ⁽³⁾		1.20	%		1.19	%		0.97	%		1.02	%		0.96	%

After Expense Reimbursement		0.85	% ⁽³⁾		0.85	%		0.85	%		0.85	%		0.85	%		0.85	%

Ratio of Net Investment Income to Average Net Assets		8.48	% ⁽³⁾		7.63	%		6.78	%		5.90	%		4.65	%		4.14	%

Portfolio Turnover Rate ⁽⁴⁾		67.58	% ⁽²⁾		134.59	%		115.86	%		123.91	%		122.49	%		117.18	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW Emerging Markets Local Currency Income Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Year Ended October 31,
	Six Months Ended April 30, 2026 (Unaudited)			2025			2024			2023			2022			2021
Net Asset Value per Share, Beginning of period	$	7.76		$	7.18		$	7.01		$	6.48		$	8.44		$	8.55

Income (Loss) from Investment Operations:
Net Investment Income ⁽¹⁾		0.33			0.59			0.49			0.42			0.34			0.36
Net Realized and Unrealized Gain (Loss) on Investments		0.01			0.43			0.09			0.35			(2.04	)		(0.25	)

Total from Investment Operations		0.34			1.02			0.58			0.77			(1.70	)		0.11

Less Distributions:
Distributions from Net Investment Income		(0.24	)		(0.44	)		(0.35	)		(0.24	)		(0.10	)		(0.22	)
Distributions from Return of Capital		—			—			(0.06	)		—			(0.16	)		—

Total Distributions		(0.24	)		(0.44	)		(0.41	)		(0.24	)		(0.26	)		(0.22	)

Net Asset Value per Share, End of period	$	7.86		$	7.76		$	7.18		$	7.01		$	6.48		$	8.44

Total Return		4.40	% ⁽²⁾		14.72	%		8.32	%		11.89	%		(20.66	)%		1.30	%

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	14,150		$	10,594		$	11,970		$	13,949		$	39,709		$	39,546

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.57	% ⁽³⁾		1.63	%		1.64	%		1.31	%		1.38	%		1.32	%

After Expense Reimbursement		0.90	% ⁽³⁾		0.90	%		0.90	%		0.90	%		0.90	%		0.90	%

Ratio of Net Investment Income to Average Net Assets		8.31	% ⁽³⁾		7.99	%		6.64	%		5.83	%		4.64	%		4.05	%

Portfolio Turnover Rate ⁽⁴⁾		67.58	% ⁽²⁾		134.59	%		115.86	%		123.91	%		122.49	%		117.18	%

(1)	Computed using average shares outstanding throughout the period.

(2)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(3)	Annualized.

(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.

TCW White Oak Emerging Markets Equity Fund

Financial Highlights — I Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from March 3, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	13.05		$	10.00	⁽¹⁾

Income (Loss) from Investment Operations:
Net Investment Income ⁽²⁾		0.04			0.09
Net Realized and Unrealized Gain on Investments		2.07			2.96

Total from Investment Operations		2.11			3.05

Less Distributions:
Distributions from Net Investment Income		(0.05	)		—
Distributions from Net Realized Gain		(0.47	)		—

Total Distributions		(0.52	)		—

Net Asset Value per Share, End of period	$	14.64		$	13.05

Total Return		16.73	% ⁽³⁾		30.50	% ⁽⁴⁾

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	14,339		$	8,959

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		1.46	% ⁽⁵⁾		3.48	% ⁽⁵⁾

After Expense Reimbursement		0.98	% ⁽⁵⁾		0.98	% ⁽⁵⁾

Ratio of Net Investment Income to Average Net Assets		0.66	% ⁽⁵⁾		1.15	% ⁽⁵⁾

Portfolio Turnover Rate ⁽⁶⁾		14.93	% ⁽³⁾		60.06	% ⁽⁴⁾

(1)	The Fund commenced operations on March 3, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(4)	Not annualized.

(5)	Annualized.

(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.

TCW White Oak Emerging Markets Equity Fund

Financial Highlights — I-3 Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from August 26, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	10.93		$	10.00	⁽¹⁾

Income (Loss) from Investment Operations:
Net investment income ⁽²⁾		0.09			—	⁽³⁾
Net Realized and Unrealized Gain on Investments		1.65			0.93

Total from Investment Operations		1.74			0.93

Less Distributions:
Distributions from Net Investment Income		(0.05	)		—
Distributions from Net Realized Gain		(0.47	)		—

Total Distributions		(0.52	)		—

Net Asset Value per Share, End of period	$	12.15		$	10.93

Total Return		16.68	% ⁽⁴⁾		9.30	% ⁽⁵⁾

Ratios/Supplemental data:

Net Assets, End of period (in thousands)	$	1,849		$	11

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		8.15	% ⁽⁶⁾		2.07	% ⁽⁶⁾

After Expense Reimbursement		1.15	% ⁽⁶⁾		1.14	% ⁽⁶⁾

Ratio of Net Investment Income to Average Net Assets		1.69	% ⁽⁶⁾		0.05	% ⁽⁶⁾

Portfolio Turnover Rate ⁽⁷⁾		14.93	% ⁽⁴⁾		60.06	% ⁽⁵⁾

(1)	I-3 Class commenced operations on August 26, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	Amount rounds to less than $0.01 per share.

(4)	For the six months ended April 30, 2026 and not indicative of a full year’s results.

(5)	Not annualized.

(6)	Annualized.

(7)	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.

TCW White Oak Emerging Markets Equity Fund

Financial Highlights — N Class


	Six Months Ended April 30, 2026 (Unaudited)			Period from March 3, 2025 (Commencement of Operations) through October 31, 2025
Net Asset Value per Share, Beginning of period	$	13.03		$	10.00	⁽¹⁾

Income (Loss) from Investment Operations:
Net Investment Income ⁽²⁾		0.03			0.07
Net Realized and Unrealized Gain on Investments		2.05			2.96

Total from Investment Operations		2.08			3.03

Less Distributions:
Distributions from Net Investment Income		(0.05	)		—
Distributions from Net Realized Gain		(0.47	)		—

Total Distributions		(0.52	)		—

Net Asset Value per Share, End of period	$	14.59		$	13.03

Total Return		16.60	% ⁽³⁾		30.30	% ⁽⁴⁾

Ratios/Supplemental Data:

Net Assets, End of period (in thousands)	$	3,955		$	3,283

Ratio of Expenses to Average Net Assets:

Before Expense Reimbursement		2.23	% ⁽⁵⁾		4.61	% ⁽⁵⁾

After Expense Reimbursement		1.23	% ⁽⁵⁾		1.23	% ⁽⁵⁾

Ratio of Net Investment Income to Average Net Assets		0.39	% ⁽⁵⁾		0.87	% ⁽⁵⁾

Portfolio Turnover Rate ⁽⁶⁾		14.93	% ⁽³⁾		60.06	% ⁽⁴⁾

(1)	The Fund commenced operations on March 3, 2025.

(2)	Computed using average shares outstanding throughout the period.

(3)	For the six months ended April 30, 2026 and is not indicative of a full year’s operating results.

(4)	Not annualized.

(5)	Annualized.

(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.

TCW Funds, Inc.

Supplemental Information

Proxy Voting Guidelines

Disclosure of Proxy Voting Guidelines

The proxy voting guidelines of the Advisor are available:

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the TCW website at https://www.tcw.com/Global-Proxy-Voting-Policy; or

By going to the SEC website at http://www.sec.gov.

By calling 800-FUND-TCW (800-386-3829) to obtain a hard copy; or

By going to the SEC website at http://www.sec.gov.

Availability of Quarterly Portfolio Schedule

LOGO

TCW Funds, Inc.

515 South Flower Street

Los Angeles, CA 90071

800 386 3829

tcw.com

Board of Directors

Patrick C. Haden

Martin Luther King III

Peter McMillan

Victoria B. Rogers

Robert G. Rooney

Michael Swell

Andrew Tarica

David Vick

Richard Villa

Advisor

TCW Investment Management Company 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 Villa

President and Principal Executive Officer

Treasurer, Principal Financial Officer

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

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 Directors 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.

(a)	Not applicable.

(b)	Not applicable.

Item 18.

Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19.

Exhibits.


(a)(1)		Not required for this filing.

(a)(2)		Not applicable.

(a)(3)		EX-99.CERT – 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)		EX-99.906CERT – 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 Funds, Inc.

By (Signature and Title)

		/s/ Richard M. Villa
		Richard M. Villa
		President, Principal Executive Officer, Treasurer, and Principal Financial and Accounting Officer

Date		July 9, 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		July 9, 2026

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

EX-99.CERT

EX-99.906 CERT

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