PORTFOLIO OF INVESTMENTS – as of December 31, 2021 (Unaudited)

Loomis Sayles Growth Fund

Shares		Description	Value (†)
	Common Stocks – 97.7% of Net Assets
		Aerospace & Defense – 4.4%
	3,121,121	Boeing Co. (The)(a)	$	628,344,080
		Air Freight & Logistics – 2.2%
	2,316,156	Expeditors International of Washington, Inc.		311,036,589
		Beverages – 3.0%
	4,423,532	Monster Beverage Corp.(a)		424,836,013
		Biotechnology – 5.2%
	604,530	Regeneron Pharmaceuticals, Inc.(a)		381,772,786
	1,582,622	Vertex Pharmaceuticals, Inc.(a)		347,543,791
				729,316,577
		Capital Markets – 3.0%
	513,824	FactSet Research Systems, Inc.		249,723,602
	2,920,307	SEI Investments Co.		177,963,509
				427,687,111
		Communications Equipment – 1.9%
	4,264,433	Cisco Systems, Inc.		270,237,119
		Energy Equipment & Services – 1.4%
	6,329,806	Schlumberger NV		189,577,690
		Entertainment – 3.5%
	3,212,679	Walt Disney Co. (The)(a)		497,611,850
		Health Care Equipment & Supplies – 1.4%
	563,085	Intuitive Surgical, Inc.(a)		202,316,440
		Hotels, Restaurants & Leisure – 4.4%
	2,886,634	Starbucks Corp.		337,649,579
	1,942,878	Yum China Holdings, Inc.		96,833,039
	1,366,214	Yum! Brands, Inc.		189,712,476
				624,195,094
		Household Products – 1.2%
	2,021,233	Colgate-Palmolive Co.		172,492,024
		Interactive Media & Services – 13.4%
	185,888	Alphabet, Inc., Class A(a)		538,524,971
	185,703	Alphabet, Inc., Class C(a)		537,348,344
	2,457,043	Meta Platforms, Inc., Class A(a)		826,426,413
				1,902,299,728
		Internet & Direct Marketing Retail – 7.6%
	1,629,773	Alibaba Group Holding Ltd., Sponsored ADR(a)		193,600,734
	265,105	Amazon.com, Inc.(a)		883,950,206
				1,077,550,940

Shares		Description	Value (†)
	Common Stocks – continued
		IT Services – 6.0%
	480,237	Automatic Data Processing, Inc.	$	118,416,840
	3,392,182	Visa, Inc., Class A		735,119,761
				853,536,601
		Life Sciences Tools & Services – 2.3%
	864,263	Illumina, Inc.(a)		328,800,216
		Machinery – 2.5%
	1,016,404	Deere & Co.		348,514,768
		Pharmaceuticals – 6.3%
	4,235,774	Novartis AG, Sponsored ADR		370,503,152
	1,418,632	Novo Nordisk A/S, Sponsored ADR		158,886,784
	7,036,695	Roche Holding AG, Sponsored ADR		363,726,764
				893,116,700
		Semiconductors & Semiconductor Equipment – 9.5%
	3,398,496	NVIDIA Corp.		999,531,659
	1,864,877	QUALCOMM, Inc.		341,030,057
				1,340,561,716
		Software – 18.5%
	1,965,273	Autodesk, Inc.(a)		552,615,115
	2,182,684	Microsoft Corp.		734,080,283
	6,742,061	Oracle Corp.		587,975,140
	2,150,229	salesforce.com, Inc.(a)		546,437,696
	711,635	Workday, Inc., Class A(a)		194,404,449
				2,615,512,683
		Total Common Stocks (Identified Cost $6,951,416,749)		13,837,543,939

Principal Amount
Short-Term Investments – 2.5%
	$356,509,737	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 12/31/2021 at 0.000% to be repurchased at $356,509,737 on 1/03/2022 collateralized by $46,845,200 U.S. Treasury Bond, 4.500% due 5/15/2038 valued at $65,478,956; 7,816,500 U.S. Treasury Note, 1.625% due 5/15/2031 valued at $7,934,013; 250,000,000 U.S. Treasury Inflation Indexed Note 0.125% due 7/15/2031 valued at 290,227,034 including accrued interest(b) (Identified Cost $356,509,737)		356,509,737
		Total Investments – 100.2% (Identified Cost $7,307,926,486)		14,194,053,676
		Other assets less liabilities – (0.2)%		(32,098,253	)
		Net Assets – 100.0%	$	14,161,955,423

(†) Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price (“NOCP”), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available.

In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used.

Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers.

Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security.

Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser pursuant to procedures approved by the Board of Trustees. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Fund may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Fund’s net asset value (“NAV”) is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine the Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by the Fund.

The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period.

(a) Non-income producing security.

(b) The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund’s policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund’s ability to dispose of the underlying securities. As of December 31, 2021, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

ADR An American Depositary Receipt is a certificate issued by a custodian bank representing the right to receive securities of the foreign issuer described. The values of ADRs may be significantly influenced by trading on exchanges not located in the United States.

Fair Value Measurements

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

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

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

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

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

The following is a summary of the inputs used to value the Fund’s investments as of December 31, 2021, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks*	$	13,837,543,939	$	—	$	—	$	13,837,543,939
Short-Term Investments		—		356,509,737		—		356,509,737
Total	$	13,837,543,939	$	356,509,737	$	—	$	14,194,053,676

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

Industry Summary at December 31, 2021 (Unaudited)

Software	18.5	%
Interactive Media & Services	13.4
Semiconductors & Semiconductor Equipment	9.5
Internet & Direct Marketing Retail	7.6
Pharmaceuticals	6.3
IT Services	6.0
Biotechnology	5.2
Aerospace & Defense	4.4
Hotels, Restaurants & Leisure	4.4
Entertainment	3.5
Capital Markets	3.0
Beverages	3.0
Machinery	2.5
Life Sciences Tools & Services	2.3
Air Freight & Logistics	2.2
Other Investments, less than 2% each	5.9
Short-Term Investments	2.5
Total Investments	100.2
Other assets less liabilities	(0.2	)
Net Assets	100.0	%