PORTFOLIO OF INVESTMENTS – as of December 31, 2022 (Unaudited)

Loomis Sayles Small Cap Growth Fund

Shares		Description	Value (†)
Common Stocks – 97.4% of Net Assets
		Aerospace & Defense – 1.0%
	349,841	Hexcel Corp.	$	20,588,143
		Air Freight & Logistics – 0.7%
	196,386	HUB Group, Inc., Class A(a)		15,610,723
		Auto Components – 2.9%
	269,279	Dorman Products, Inc.(a)		21,776,593
	354,048	Gentherm, Inc.(a)		23,115,794
	279,840	Patrick Industries, Inc.		16,958,304
				61,850,691
		Banks – 3.2%
	421,664	Ameris Bancorp		19,877,241
	868,286	Bancorp, Inc. (The)(a)		24,641,957
	311,614	Lakeland Financial Corp.		22,738,473
				67,257,671
		Beverages – 0.9%
	1,242,243	Primo Water Corp.		19,304,456
		Biotechnology – 6.4%
	793,621	Halozyme Therapeutics, Inc.(a)		45,157,035
	573,626	Inhibrx, Inc.(a)		14,134,145
	703,368	Insmed, Inc.(a)		14,053,293
	398,436	PTC Therapeutics, Inc.(a)		15,208,302
	563,433	Vericel Corp.(a)		14,840,825
	603,114	Xencor, Inc.(a)		15,705,088
	388,255	Xenon Pharmaceuticals, Inc.(a)		15,308,895
				134,407,583
		Building Products – 0.4%
	105,630	Advanced Drainage Systems, Inc.		8,658,491
		Capital Markets – 3.4%
	485,271	Focus Financial Partners, Inc., Class A(a)		18,086,050
	356,371	Hamilton Lane, Inc., Class A		22,764,979
	408,214	PJT Partners, Inc., Class A		30,081,290
				70,932,319
		Commercial Services & Supplies – 2.9%
	524,025	Casella Waste Systems, Inc., Class A(a)		41,560,423
	689,703	Driven Brands Holdings, Inc.(a)		18,835,789
				60,396,212
		Communications Equipment – 1.5%
	467,369	Calix, Inc.(a)		31,982,061
		Construction & Engineering – 2.6%
	234,131	Arcosa, Inc.		12,722,679

Shares		Description	Value (†)
Common Stocks – continued
		Construction & Engineering – continued
	939,791	WillScot Mobile Mini Holdings Corp.(a)	$	42,450,359
				55,173,038
		Electronic Equipment, Instruments & Components – 2.9%
	247,708	Advanced Energy Industries, Inc.		21,248,392
	241,029	Itron, Inc.(a)		12,208,119
	199,671	Novanta, Inc.(a)		27,129,299
				60,585,810
		Energy Equipment & Services – 4.1%
	651,452	Cactus, Inc., Class A		32,741,978
	558,139	Noble Corp. PLC(a)		21,047,422
	628,183	Weatherford International PLC(a)		31,987,078
				85,776,478
		Food Products – 2.8%
	626,188	Hostess Brands, Inc.(a)		14,051,659
	788,144	Simply Good Foods Co. (The)(a)		29,973,116
	1,058,093	Sovos Brands, Inc.(a)		15,204,796
				59,229,571
		Health Care Equipment & Supplies – 10.5%
	509,072	AtriCure, Inc.(a)		22,592,615
	564,572	Axonics, Inc.(a)		35,302,687
	227,472	CONMED Corp.		20,163,118
	347,086	Cutera, Inc.(a)		15,348,143
	163,023	Inspire Medical Systems, Inc.(a)		41,062,233
	203,514	LivaNova PLC(a)		11,303,168
	469,790	Merit Medical Systems, Inc.(a)		33,176,570
	452,030	NuVasive, Inc.(a)		18,641,717
	333,218	PROCEPT BioRobotics Corp.(a)		13,841,876
	190,823	STAAR Surgical Co.(a)		9,262,548
				220,694,675
		Health Care Providers & Services – 5.7%
	349,314	Acadia Healthcare Co., Inc.(a)		28,755,528
	1,076,572	Alignment Healthcare, Inc.(a)		12,660,487
	296,755	Ensign Group, Inc. (The)		28,075,990
	140,316	ModivCare, Inc.(a)		12,590,555
	1,238,453	Option Care Health, Inc.(a)		37,265,051
				119,347,611
		Health Care Technology – 1.0%
	765,405	Evolent Health, Inc., Class A(a)		21,492,572
		Hotels, Restaurants & Leisure – 2.6%
	1,163,923	Life Time Group Holdings, Inc.(a)		13,920,519
	204,092	Papa John’s International, Inc.		16,798,813
	255,236	Texas Roadhouse, Inc.		23,213,714
				53,933,046

Shares		Description	Value (†)
Common Stocks – continued
		Household Durables – 0.7%
	180,608	Installed Building Products, Inc.	$	15,460,045
		Insurance – 2.0%
	843,710	BRP Group, Inc., Class A(a)		21,210,869
	82,240	Kinsale Capital Group, Inc.		21,507,405
				42,718,274
		Interactive Media & Services – 0.8%
	318,497	Shutterstock, Inc.		16,791,162
		IT Services – 3.3%
	711,714	EVERTEC, Inc.		23,045,299
	868,007	Grid Dynamics Holdings, Inc.(a)		9,739,039
	454,416	WNS Holdings Ltd., ADR(a)		36,348,736
				69,133,074
		Leisure Products – 2.0%
	326,778	Malibu Boats, Inc., Class A(a)		17,417,267
	1,205,521	Topgolf Callaway Brands Corp.(a)		23,809,040
				41,226,307
		Life Sciences Tools & Services – 1.0%
	95,600	Medpace Holdings, Inc.(a)		20,306,396
		Machinery – 3.9%
	337,215	Albany International Corp., Class A		33,246,027
	332,782	Helios Technologies, Inc.		18,116,652
	148,474	RBC Bearings, Inc.(a)		31,083,032
				82,445,711
		Oil, Gas & Consumable Fuels – 1.6%
	159,064	Denbury, Inc.(a)		13,841,749
	829,032	Magnolia Oil & Gas Corp., Class A		19,440,801
				33,282,550
		Personal Products – 2.6%
	642,312	BellRing Brands, Inc.(a)		16,468,880
	400,958	elf Beauty, Inc.(a)		22,172,977
	173,483	Inter Parfums, Inc.		16,744,579
				55,386,436
		Pharmaceuticals – 2.0%
	441,355	Pacira BioSciences, Inc.(a)		17,040,716
	671,882	Supernus Pharmaceuticals, Inc.(a)		23,966,031
				41,006,747
		Professional Services – 4.3%
	136,016	FTI Consulting, Inc.(a)		21,599,341
	250,037	Huron Consulting Group, Inc.(a)		18,152,686
	132,159	ICF International, Inc.		13,090,349
	714,859	KBR, Inc.		37,744,555
				90,586,931

Shares		Description	Value (†)
Common Stocks – continued
		Road & Rail – 0.7%
	775,160	Marten Transport Ltd.	$	15,332,665
		Semiconductors & Semiconductor Equipment – 5.6%
	509,919	MACOM Technology Solutions Holdings, Inc.(a)		32,114,699
	538,798	MaxLinear, Inc.(a)		18,292,192
	1,117,944	Rambus, Inc.(a)		40,044,754
	203,457	Silicon Laboratories, Inc.(a)		27,603,011
				118,054,656
		Software – 4.2%
	731,072	Box, Inc., Class A(a)		22,758,272
	361,636	Envestnet, Inc.(a)		22,312,941
	282,711	Model N, Inc.(a)		11,466,758
	527,817	Tenable Holdings, Inc.(a)		20,136,219
	518,845	Varonis Systems, Inc.(a)		12,421,149
				89,095,339
		Specialty Retail – 0.7%
	246,993	Boot Barn Holdings, Inc.(a)		15,442,002
		Technology Hardware, Storage & Peripherals – 1.5%
	1,136,407	Pure Storage, Inc., Class A(a)		30,410,251
		Textiles, Apparel & Luxury Goods – 1.7%
	217,781	Columbia Sportswear Co.		19,073,260
	187,198	Oxford Industries, Inc.		17,443,110
				36,516,370
		Trading Companies & Distributors – 3.3%
	206,147	Applied Industrial Technologies, Inc.		25,980,706
	240,424	McGrath RentCorp		23,739,466
	159,230	SiteOne Landscape Supply, Inc.(a)		18,680,864
				68,401,036
		Total Common Stocks (Identified Cost $1,841,524,675)		2,048,817,103

Principal Amount
Short-Term Investments – 2.2%
$	46,146,906	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 12/30/2022 at 1.800% to be repurchased at $46,156,136 on 1/03/2023 collateralized by $53,799,000 U.S. Treasury Note, 1.250% due 3/31/2028 valued at $47,069,929 including accrued interest(b) (Identified Cost $46,146,906)		46,146,906
		Total Investments – 99.6% (Identified Cost $1,887,671,581)		2,094,964,009
		Other assets less liabilities – 0.4%		7,921,261
		Net Assets – 100.0%	$	2,102,885,270

(†)	Registered investment companies are required to value portfolio investments using an unadjusted, readily available market quotation. The Fund obtains readily available market quotations from independent pricing services. Fund investments for which readily available market quotations are not available are priced at fair value pursuant to the Fund’s Valuation Procedures. The Board of Trustees has approved a valuation designee who is subject to the Board’s oversight. Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of closed-end investment companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most extensively. Shares of open-end investment companies are valued at net asset value per share. Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation as reported by an independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair 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 fair valued using evaluated bids furnished by an independent pricing service, if available. Debt securities and unlisted preferred equity securities are fair 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 fair value debt and unlisted equities where an independent pricing service is unable to price an investment or where an independent pricing service does not provide a reliable price for the investment. The Fund may also fair value investments 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 a Fund’s investments, the valuation designee may, among other things, use modeling tools or other processes that may take into account factors such as issuer specific information, or other related market activity and/or information that occurred after the close of the foreign market but before the time the Fund’s net asset value (“NAV”) is calculated. Fair valuation by the Fund’s valuation designee may require subjective determinations about the value of the investment, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of investments held by a 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, 2022, 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 Fund’s pricing policies have been approved by the Board of Trustees. Investments for which market quotations are readily available are categorized in Level 1. Other investments for which an independent pricing service is utilized are categorized in Level 2. Broker-dealer bid prices for which the Fund has knowledge of the inputs used by the broker-dealer are categorized in Level 2. All other investments, including broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer, as well as investments fair valued by the valuation designee, are categorized in Level 3. All Level 2 and 3 securities are defined as being fair valued.

Under certain conditions and based upon specific facts and circumstances, the Fund’s valuation designee may determine that a fair valuation should be made for portfolio investment(s). These valuation designee fair valuations will be based upon a significant amount of Level 3 inputs.

The following is a summary of the inputs used to value the Fund’s investments as of December 31, 2022, at value:

Asset Valuation Inputs

Description	Level 1		Level 2		Level 3		Total
Common Stocks*	$	2,048,817,103	$	—	$	—	$	2,048,817,103
Short-Term Investments		—		46,146,906		—		46,146,906
Total	$	2,048,817,103	$	46,146,906	$	—	$	2,094,964,009

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

Industry Summary at December 31, 2022 (Unaudited)

Health Care Equipment & Supplies	10.5	%
Biotechnology	6.4
Health Care Providers & Services	5.7
Semiconductors & Semiconductor Equipment	5.6
Professional Services	4.3
Software	4.2
Energy Equipment & Services	4.1
Machinery	3.9
Capital Markets	3.4
IT Services	3.3
Trading Companies & Distributors	3.3
Banks	3.2
Auto Components	2.9
Electronic Equipment, Instruments & Components	2.9
Commercial Services & Supplies	2.9
Food Products	2.8
Personal Products	2.6
Construction & Engineering	2.6
Hotels, Restaurants & Leisure	2.6
Insurance	2.0
Leisure Products	2.0
Pharmaceuticals	2.0
Other Investments, less than 2% each	14.2
Short-Term Investments	2.2
Total Investments	99.6
Other assets less liabilities	0.4
Net Assets	100.0	%