Schedule of Investments
TCW Transform Systems ETF
July 31, 2026 (Unaudited)
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Schedule of Investments TCW Transform Systems ETF July 31, 2026 (Unaudited) |
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| Investments | Shares | Value | ||||||
| COMMON STOCKS – 97.2% | ||||||||
| Aerospace & Defense – 19.6% | ||||||||
| Airbus SE | 256,643 | $ | 59,840,659 | |||||
| General Electric Co. | 409,961 | 147,614,657 | ||||||
| Safran S.A. | 207,272 | 80,882,914 | ||||||
| 288,338,230 | ||||||||
| Building Products – 5.1% | ||||||||
| Modine Manufacturing Co.* | 122,034 | 24,536,156 | ||||||
| Trane Technologies plc | 111,420 | 50,690,529 | ||||||
| 75,226,685 | ||||||||
| Commercial Services & Supplies – 1.1% | ||||||||
| Republic Services, Inc., Class A | 76,695 | 16,148,132 | ||||||
| Communications Equipment – 4.0% | ||||||||
| Arista Networks, Inc.* | 326,610 | 58,904,114 | ||||||
| Construction & Engineering – 6.2% | ||||||||
| Comfort Systems USA, Inc. | 15,235 | 26,351,827 | ||||||
| Primoris Services Corp. | 210,308 | 17,752,098 | ||||||
| Quanta Services, Inc. | 70,170 | 46,828,652 | ||||||
| 90,932,577 | ||||||||
| Electrical Equipment – 19.0% | ||||||||
| Bloom Energy Corp., Class A* | 242,985 | 50,008,743 | ||||||
| Eaton Corp. plc | 64,581 | 26,814,031 | ||||||
| GE Vernova, Inc. | 51,606 | 51,104,906 | ||||||
| Powell Industries, Inc. | 280,824 | 58,602,352 | ||||||
| Siemens Energy AG | 127,754 | 21,720,790 | ||||||
| Vertiv Holdings Co., Class A | 297,292 | 71,816,829 | ||||||
| 280,067,651 | ||||||||
| Electronic Equipment, Instruments & Components – 1.7% | ||||||||
| Mirion Technologies, Inc., Class A* | 1,620,618 | 24,276,858 | ||||||
| Ground Transportation – 4.5% | ||||||||
| Union Pacific Corp. | 225,368 | 65,836,754 | ||||||
| Machinery – 3.8% | ||||||||
| Caterpillar, Inc. | 34,097 | 27,782,577 | ||||||
| Sandvik AB | 770,067 | 28,789,970 | ||||||
| 56,572,547 | ||||||||
| Investments | Shares | Value | ||||||
| Oil, Gas & Consumable Fuels – 11.5% | ||||||||
| Cameco Corp. | 257,824 | $ | 22,270,837 | |||||
| Cheniere Energy, Inc. | 94,909 | 25,015,165 | ||||||
| ExxonMobil Holdings Corp. | 292,379 | 45,447,392 | ||||||
| Venture Global, Inc., Class A | 5,709,058 | 76,387,196 | ||||||
| 169,120,590 | ||||||||
| Semiconductors & Semiconductor Equipment – 20.7% | ||||||||
| Applied Materials, Inc. | 155,270 | 78,825,921 | ||||||
| Broadcom, Inc. | 157,647 | 61,368,824 | ||||||
| First Solar, Inc.* | 85,705 | 18,086,326 | ||||||
| KLA Corp. | 341,003 | 62,342,168 | ||||||
| Qnity Electronics, Inc. | 306,367 | 40,189,223 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 103,489 | 41,835,428 | ||||||
| 302,647,890 | ||||||||
| Total Common Stocks | ||||||||
| (Cost $1,200,851,310) | 1,428,072,028 | |||||||
| Principal | ||||||||
| Short-Term Investments – 3.5% | ||||||||
| Time Deposit – 3.5% | ||||||||
| Citibank, New York 2.98% 8/3/2026 | ||||||||
| (Cost $52,113,068) | $ | 52,113,068 | 52,113,068 | |||||
| Total Investments – 100.7% | ||||||||
| (Cost $1,252,964,378) | $ | 1,480,185,096 | ||||||
| Liabilities in Excess of Other Assets – (0.7)% | (9,929,287 | ) | ||||||
| Net Assets – 100.0% | $ | 1,470,255,809 | ||||||
| * | Non-income producing security. |
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Schedule of Investments (Continued) TCW Transform Systems ETF July 31, 2026 (Unaudited) |
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Fair Value Measurement
The Fund discloses the fair market value of its investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (2) the Fund’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs).
The three levels defined by the hierarchy are as follows:
| ● | Level 1 — Quoted prices in active markets for identical assets that the Fund has the ability to access. |
| ● | Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). |
| ● | Level 3 — Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the fair valuations according to the inputs used as of July 31, 2026 in valuing the Fund’s investments.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments | ||||||||||||||||
| Assets | ||||||||||||||||
| Common Stocks* | $ | 1,428,072,028 | $ | – | $ | – | $ | 1,428,072,028 | ||||||||
| Short-Term Investments | ||||||||||||||||
| Time Deposit | 52,113,068 | – | – | 52,113,068 | ||||||||||||
| Total Investments | $ | 1,480,185,096 | $ | – | $ | – | $ | 1,480,185,096 | ||||||||
| * | Please refer to the Schedule of Investments to view securities segregated by industry. |