Natixis Funds Trust IV NCSRS Certified semi-annual shareholder report (management investment company)

Natixis Funds Trust IV N-CSRSCertified semi-annual shareholder report (management investment company)

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: 811-09945

Natixis Funds Trust IV

(Exact name of registrant as specified in charter)

888 Boylston Street, Suite 800, Boston, Massachusetts 02199-8197

(Address of principal executive offices) (Zip code)

Natalie Wagner, Esq.

Natixis Distribution, LLC

888 Boylston Street, Suite 800

Boston, Massachusetts 02199-8197

(Name and address of agent for service)

Registrant’s telephone number, including area code: (617) 449-2810

Date of fiscal year end: January 31

Date of reporting period: July 31, 2021

Item 1. Report to Stockholders.

The Registrant’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

LOGO

Semiannual Report

July 31, 2021

AEW Global Focused Real Estate Fund

Table of Contents


Portfolio Review			1
Portfolio of Investments			8
Financial Statements			10
Notes to Financial Statements			17

LOGO

AEW GLOBAL FOCUSED REAL ESTATE FUND



Managers		Symbols

Robert Oosterkamp		Class A NRFAX

Milton Low, CFA^®		Class C NRCFX

Gina Szymanski, CFA^®		Class N NRFNX

AEW Capital Management, L.P.		Class Y NRFYX

Investment Goal

The Fund seeks to provide investors with above-average income and long-term growth of capital.

Average Annual Total Returns — July 31, 2021^3,5



																Expense Ratios⁴

	6 Months			1 Year			5 Years			10 Years			Life of Class N			Gross			Net

Class Y (Inception 8/31/00)
NAV		23.02	%		32.55	%		5.31	%		8.89	%		—	%		1.30	%		0.90	%

Class A (Inception 12/29/00)
NAV		22.89			32.30			5.06			8.62			—			1.55			1.15
With 5.75% Maximum Sales Charge		15.84			24.66			3.82			7.98			—

Class C (Inception 12/29/00)
NAV		22.42			31.22			4.24			7.98			—			2.30			1.90
With CDSC¹		21.42			30.22			4.24			7.98			—

Class N (Inception 5/01/13)
NAV		22.98			32.64			5.35			—			7.58			1.17			0.85

Comparative Performance

FTSE EPRA Nareit Developed Index (Net)²		20.91			34.93			4.74			6.71			5.05

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. Performance for other share classes will be greater or less than shown based on differences in fees and sales charges. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.

1	Class C share performance assumes a 1.00% CDSC applied when you sell shares within one year of purchase.

The FTSE EPRA Nareit Developed Index (Net) is an index designed to track the performance of listed real estate companies and REITs (real estate investment trust) worldwide. By making the index constituents free-float adjusted, liquidity, size and revenue screened, the series is suitable for use as the basis for investment products, such as derivatives and Exchange Traded Funds (ETFs).

3	For certain periods, Fund performance has been increased by fee waivers and/or expense reimbursements, without which performance would have been lower.

Expense ratios are as shown in the Fund’s prospectus in effect as of the date of this report. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report under Ratios to Average Net Assets. Net expenses reflect contractual expense limitations set to expire on 5/31/22. When a Fund’s expenses are below the limitation, gross and net expense ratios will be the same. See Note 5 of the Notes to Financial Statements for more information about the Fund’s expense limitations.

5	The performance results shown for the periods prior to the close of business on May 31, 2019 reflect results achieved using a different investment strategy.

1 |

ADDITIONAL INFORMATION

All investing involves risk, including the risk of loss. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

ADDITIONAL INDEX INFORMATION

This document may contain references to third party copyrights, indexes, and trademarks, each of which is the property of its respective owner. Such owner is not affiliated with Natixis Investment Managers or any of its related or affiliated companies (collectively “Natixis Affiliates”) and does not sponsor, endorse or participate in the provision of any Natixis Affiliates services, funds or other financial products.

The index information contained herein is derived from third parties and is provided on an “as is” basis. The user of this information assumes the entire risk of use of this information. Each of the third party entities involved in compiling, computing or creating index information disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to such information.

PROXY VOTING INFORMATION

A description of the Natixis Funds proxy voting policies and procedures is available without charge, upon request, by calling Natixis Funds at 800-225-5478; on the Natixis Funds’ website at im.natixis.com; and on the Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available from the Natixis Funds’ website and the SEC’s website.

QUARTERLY PORTFOLIO SCHEDULES

The Natixis Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Funds’ Form N-PORT reports are available on the SEC’s website at www.sec.gov. First and third quarter schedules of portfolio holdings are also available at im.natixis.com/funddocuments. A hard copy may be requested from the Fund at no charge by calling 800-225-5478.

CFA^® and Chartered Financial Analyst^® are registered trademarks owned by the CFA Institute.

| 2

UNDERSTANDING FUND EXPENSES

As a mutual fund shareholder, you incur different costs: transaction costs, including sales charges (loads) on purchases and contingent deferred sales charges on redemptions, and ongoing costs, including management fees, distribution and/or service fees (12b-1 fees), and other fund expenses. Certain exemptions may apply. These costs are described in more detail in the Fund’s prospectus. The following examples are intended to help you understand the ongoing costs of investing in the Fund and help you compare these with the ongoing costs of investing in other mutual funds.

The first line in the table of each class of Fund shares shows the actual account values and actual Fund expenses you would have paid on a $1,000 investment in the Fund from February 1, 2021 through July 31, 2021. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, $8,600 account value divided by $1,000 = 8.60) and multiply the result by the number in the Expenses Paid During Period column as shown below for your class.

The second line in the table of each class of Fund shares provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratios and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid on your investment for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown reflect ongoing costs only, and do not include any transaction costs, such as sales charges. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative costs of owning different funds. If transaction costs were included, total costs would be higher.


AEW GLOBAL FOCUSED REAL ESTATE FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class A
Actual		$1,000.00		$1,228.90		$6.36
Hypothetical (5% return before expenses)		$1,000.00		$1,019.09		$5.76
Class C
Actual		$1,000.00		$1,224.20		$10.48
Hypothetical (5% return before expenses)		$1,000.00		$1,015.37		$9.49
Class N
Actual		$1,000.00		$1,229.80		$4.70
Hypothetical (5% return before expenses)		$1,000.00		$1,020.58		$4.26
Class Y
Actual		$1,000.00		$1,230.20		$4.98
Hypothetical (5% return before expenses)		$1,000.00		$1,020.33		$4.51

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement): 1.15%, 1.90%, 0.85% and 0.90% for Class A, C, N and Y, respectively, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period).

3 |

BOARD APPROVAL OF THE EXISTING ADVISORY AGREEMENT

The Board of Trustees of the Trust (the “Board”), including the Independent Trustees, considers matters bearing on the Fund’s advisory agreement (the “Agreement”) at most of its meetings throughout the year. Each year, usually in the spring, the Contract Review Committee of the Board meets to review the Agreement to determine whether to recommend that the full Board approve the continuation of the Agreement, typically for an additional one-year period. This meeting typically includes all the Independent Trustees, including the Trustees who do not serve on the Contract Review Committee. After the Contract Review Committee has made its recommendation, the full Board, including the Independent Trustees, determines whether to approve the continuation of the Agreement at its June Board Meeting.

In connection with these meetings, the Trustees receive materials that the Fund’s investment adviser (the “Adviser”) believes to be reasonably necessary for the Trustees to evaluate the Agreement. These materials generally include, among other items, (i) information on the investment performance of the Fund and the performance of a peer group of funds and the Fund’s performance benchmark, (ii) information on the Fund’s advisory fee and other expenses, including information comparing the Fund’s advisory fee to the fees charged to institutional accounts with similar strategies managed by the Adviser, if any, and to those of a peer group of funds and information about any applicable expense limitations and/or fee “breakpoints,” (iii) sales and redemption data in respect of the Fund, (iv) information about the profitability of the Agreement to the Adviser and (v) information obtained through the completion by the Adviser of a questionnaire distributed on behalf of the Trustees. The Board, including the Independent Trustees, also considers other matters such as (i) the Fund’s investment objective and strategies and the size, education and experience of the Adviser’s investment staff and its use of technology, external research and trading cost measurement tools, (ii) arrangements in respect of the distribution of the Fund’s shares and the related costs, (iii) the allocation of the Fund’s brokerage, if any, including, to the extent applicable, the use of “soft” commission dollars to pay for research and other similar services, (iv) the Adviser’s policies and procedures relating to, among other things, compliance, trading and best execution, proxy voting, liquidity and valuation, (v) information about amounts invested by the Fund’s portfolio managers in the Fund or in similar accounts that they manage and (vi) the general economic outlook with particular emphasis on the mutual fund industry. Throughout the process, the Trustees are afforded the opportunity to ask questions of and request additional materials from the Adviser.

In addition to the materials requested by the Trustees in connection with their annual consideration of the continuation of the Agreement, the Trustees receive materials in advance of each regular quarterly meeting of the Board that provide detailed information about the Fund’s investment performance and the fees charged to the Fund for advisory and other services. This information generally includes, among other things, an internal performance rating for the Fund based on agreed-upon criteria, graphs showing the Fund’s performance and expense differentials against the Fund’s peer group/category of funds, performance ratings provided by a third-party, total return information for various periods, and third-party performance rankings for various periods comparing the Fund against similarly categorized funds. The portfolio management team for the Fund or other representatives of the Adviser make periodic presentations to the Contract Review Committee and/or the full Board, and if the Fund is identified as presenting possible performance concerns it may be subject to more frequent Board or Committee presentations and reviews. In addition, the Trustees are periodically provided with detailed statistical information about the Fund’s portfolio. The Trustees also receive periodic updates between meetings, both at the Board and at the Committee level.

The Board most recently approved the continuation of the Agreement for a one-year period at its meeting held in June 2021. In considering whether to approve the continuation of the Agreement, the Board, including the Independent Trustees, did not identify any single factor as determinative. Individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. Matters considered by the Trustees, including the Independent Trustees, in connection with their approval of the Agreement included, but were not limited to, the factors listed below.

The nature, extent and quality of the services provided to the Fund under the Agreement. The Trustees considered the nature, extent and quality of the services provided by the Adviser and its affiliates to the Fund and the resources dedicated to the Fund by the Adviser and its affiliates. The Trustees also considered their experience with other funds advised or sub-advised by the Advisers as well as the affiliation between the Advisers and Natixis Investment Managers, LLC, whose affiliates provide investment advisory services to other funds in the Natixis family of funds.

The Trustees considered not only the advisory services provided by the Adviser to the Fund, but also the benefits to the Fund from the monitoring and oversight services provided by Natixis Advisors, LLC (“Natixis Advisors”). They also considered the administrative and shareholder services provided by Natixis Advisors and its affiliates to the Fund. They also took into consideration increases in the services provided resulting from new regulatory requirements.

The Trustees also considered the benefits to shareholders of investing in a mutual fund that is part of a family of funds that offers shareholders the right to exchange shares of one type of fund for shares of another type of fund, and provides a variety of fund and shareholder services.

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After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the nature, extent and quality of services provided supported the renewal of the Agreement.

Investment performance of the Fund and the Adviser. As noted above, the Trustees received information about the performance of the Fund over various time periods, including information that compared the performance of the Fund to the performance of a peer group and category of funds and the Fund’s performance benchmark. In addition, the Trustees reviewed data prepared by an independent third party that analyzed the performance of the Fund using a variety of performance metrics, including metrics that measured the performance of the Fund on a risk adjusted basis.

The Board noted that through December 31, 2020, the Fund’s one-, three- and five-year performance, stated as percentile rankings within categories selected by the independent third-party data provider, was as follows (where the best performance would be in the first percentile of its category):


	One-Year			Three-Year			Five-Year
AEW Global Focused Real Estate Fund		73	%		60	%		74	%

The Board noted that the Fund’s performance lagged that of the Fund’s category group median as determined by the independent third party. The Board concluded that other factors relevant to performance supported renewal of the Agreement, including: (1) that the underperformance was attributable, to a significant extent, to investment decisions (such as security selection or sector allocation) by the Adviser that were reasonable and consistent with the Fund’s investment objective and policies; (2) that the Fund’s more recent performance had resulted in relative outperformance over certain time periods; and (3) that the Fund’s strategy changed effective June 1, 2019, and therefore the Fund’s performance rankings for periods prior to that date are not necessarily as relevant a comparison. The Board also considered information about the Fund’s more recent performance, including how that performance had been impacted by the Covid-19 crisis.

The Trustees also considered the Adviser’s performance and reputation generally, the performance of the fund family generally, and the historical responsiveness of the Adviser to Trustee concerns about performance and the willingness of the Adviser to take steps intended to improve performance.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the performance of the Fund and the Adviser and/or other relevant factors supported the renewal of the Agreement.

The costs of the services to be provided and profits to be realized by the Adviser and its affiliates from their respective relationships with the Fund. The Trustees considered the fees charged to the Fund for advisory and administrative services as well as the total expense level of the Fund. This information included comparisons (provided both by management and by an independent third-party) of the Fund’s advisory fee and total expense level to those of its peer group and information about the advisory fees charged by the Adviser to comparable accounts (such as institutional separate accounts), as well as information about differences in such fees and the reasons for any such differences. In considering the fees charged to comparable accounts, the Trustees considered, among other things, management’s representations about the differences between managing mutual funds as compared to other types of accounts, including the additional resources required to effectively manage mutual fund assets, the greater regulatory costs associated with the management of such assets, and the entrepreneurial, regulatory and other risks associated with sponsoring and managing mutual funds. In evaluating the Fund’s advisory fee, the Trustees also took into account the demands, complexity and quality of the investment management of the Fund and the need for the Adviser to offer competitive compensation and the potential need to expend additional resources to the extent the Fund grows in size. The Trustees considered that over the past several years, management had demonstrated its intention to have competitive fee levels by making recommendations regarding reductions in advisory fee rates, implementation of advisory fee breakpoints and the institution of advisory fee waivers and expense limitations for various funds in the fund family. They noted that the Fund has an expense limitation in place and they considered the amounts waived or reimbursed by the Adviser for the Fund under its expense limitation agreement. The Trustees also noted that the Fund’s total advisory fee rate was below the median of a peer group of funds.

The Trustees also considered the compensation directly or indirectly received by the Adviser and its affiliates from their relationships with the Fund. The Trustees reviewed information provided by management as to the profitability of the Adviser’s and its affiliates’ relationships with the Fund, and information about how expenses are determined and allocated for purposes of profitability calculations. They also reviewed information provided by management about the effect of distribution costs and changes in asset levels on Adviser profitability, including information regarding resources spent on distribution activities. When reviewing profitability, the Trustees also considered information about court cases in which adviser compensation or profitability were issues, the performance of the Fund, the expense levels of the Fund, whether the Adviser had implemented breakpoints and/or expense limitations with respect to the Fund and the overall profit margin of Natixis Investment Managers, LLC compared to that of certain other investment managers for which such data was available.

5 |

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the advisory fee charged to the Fund was fair and reasonable, and that the costs of these services generally and the related profitability of the Adviser and its affiliates in respect of their relationships with the Fund supported the renewal of the Agreement.

Economies of Scale. The Trustees considered the existence of any economies of scale in the provision of services by the Adviser and whether those economies are shared with the Fund through breakpoints in its investment advisory fee or other means, such as expense limitations. The Trustees also considered management’s explanation of the factors that are taken into account with respect to the implementation of breakpoints in investment advisory fees or expense limitations. With respect to economies of scale, the Trustees noted that the Fund was subject to an expense limitation. In considering these issues, the Trustees also took note of the costs of the services provided (both on an absolute and on a relative basis) and the profitability to the Adviser and its affiliates of their relationships with the Fund, as discussed above.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding the Agreement, that the extent to which economies of scale were shared with the Fund supported the renewal of the Agreement.

The Trustees also considered other factors, which included but were not limited to the following:

•

The effect of recent market and economic events, including but not limited to the Covid-19 crisis and its significant disruptions to the economy and business operations, on the performance, asset levels and expense ratios of the Fund.

•

Whether the Fund has operated in accordance with its investment objective and the Fund’s record of compliance with its investment restrictions, and the compliance programs of the Fund and the Adviser. They also considered the compliance-related resources the Adviser and its affiliates were providing to the Fund.

•

So-called “fallout benefits” to the Adviser, such as the engagement of affiliates of the Adviser to provide distribution and administrative services to the Fund, and the benefits of research made available to the Adviser by reason of brokerage commissions (if any) generated by the Fund’s securities transactions. The Trustees also considered the benefits to the parent company of Natixis Advisors from the retention of the Adviser. The Trustees considered the possible conflicts of interest associated with these fallout and other benefits, and the reporting, disclosure and other processes in place to disclose and monitor such possible conflicts of interest.

•

The Trustees’ review and discussion of the Fund’s advisory arrangements in prior years, and management’s record of responding to Trustee concerns raised during the year and in prior years.

Based on their evaluation of all factors that they deemed to be material, including those factors described above, and assisted by the advice of independent counsel, the Trustees, including the Independent Trustees, concluded that the existing Agreement should be continued through June 30, 2022.

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LIQUIDITY RISK MANAGEMENT PROGRAM

Annual Report for the Period Commencing on January 1, 2020 and ending December 31, 2020 (including updates through July 31, 2021)

Effective December 1, 2018, the Fund adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Rule”). The Rule requires registered open-end funds, including mutual funds and exchange-traded funds to establish liquidity risk management programs in order to effectively manage fund liquidity and mitigate the risk that a fund could not meet redemption requests without significantly diluting the interests of remaining investors.

The rule requires the Fund to assess, manage and review its liquidity risk considering applicable factors during normal and foreseeable stressed conditions. In fulfilling this requirement, the Fund assesses and reviews (where applicable and amongst other matters) its investment strategy, portfolio holdings, possible investment concentrations, use of derivatives, short-term and long-term cash flow projections, use of cash and cash equivalents, as well as borrowing arrangements and other funding sources. The Program has established a Program Administrator (“Administrator”) which is the adviser of the Fund.

In accordance with the Program, the Fund’s portfolio of investments is classified into one of four liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.

The Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. If the Fund does not hold a majority of highly liquid investments in its portfolio, then the Fund is required to establish a highly liquid investment minimum (“HLIM”). The Fund has not established an HLIM.

During the period from January 1, 2020 to December 31, 2020, there were no material changes to the Program and no material events that impacted the operation of the Fund’s Program. During the period, the Fund held sufficient liquid assets to meet redemptions on a timely basis and did not have any illiquid security violations.

During the period January 1, 2021 through July 31, 2021, the Fund held sufficient liquid assets to meet redemptions on a timely basis and did not have any illiquid security violations.

Annual Program Assessment and Conclusion

In the opinion of the Program Administrator, the Program of the Fund approved by the Fund’s Board is operating effectively. The Program Administrator has also monitored, assessed and managed the Fund’s liquidity risk regularly throughout the period.

Pursuant to the Rule’s requirements, the Board has received and reviewed a written report prepared by the Fund’s Program Administrator that addressed the operation of the Program, assessed its adequacy and effectiveness and described any material changes made to the Program.

7 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

AEW Global Focused Real Estate Fund


Shares		Description	Value (†)
	Common Stocks — 99.8% of Net Assets
		Australia — 2.9%
	17,649	Goodman Group	$	293,541
	343,338	GPT Group (The)		1,177,204
	78,513	Lendlease Corp. Ltd.		704,717
	106,304	Mirvac Group		223,122
	552,949	Stockland		1,788,301

				4,186,885

		Canada — 3.7%
	208,400	Summit Industrial Income REIT		3,168,763
	170,000	Tricon Residential, Inc.		2,037,111

				5,205,874

		France — 2.0%
	10,426	Covivio		979,433
	6,060	ICADE		553,943
	54,223	Klepierre S.A.		1,312,844

				2,846,220

		Germany — 6.7%
	31,331	ADLER Group S.A.		760,424
	193,149	Aroundtown S.A.		1,511,791
	26,819	Deutsche Wohnen SE		1,674,367
	11,201	LEG Immobilien SE		1,770,281
	58,406	Vonovia SE		3,888,608

				9,605,471

		Hong Kong — 4.5%
	403,303	Hysan Development Co. Ltd.		1,588,063
	657,993	Sino Land Co. Ltd.		1,008,287
	161,500	Sun Hung Kai Properties Ltd.		2,310,316
	263,000	Swire Properties Ltd.		748,013
	132,000	Wharf Real Estate Investment Co. Ltd.		745,520

				6,400,199

		Japan — 9.2%
	1,485	GLP J-REIT		2,659,883
	357	Japan Hotel REIT Investment Corp.		217,701
	211	Kenedix Office Investment Corp.		1,555,912
	109,600	Mitsui Fudosan Co. Ltd.		2,563,243
	218	Nippon Building Fund, Inc.		1,408,857
	53,700	Nomura Real Estate Holdings, Inc.		1,331,569
	49,400	Tokyo Tatemono Co. Ltd.		743,218
	1,749	United Urban Investment Corp.		2,572,742

				13,053,125

		Netherlands — 0.2%
	3,541	Unibail-Rodamco-Westfield(a)		294,738

		Singapore — 2.2%
	717,987	Ascendas Real Estate Investment Trust		1,652,262
	182,900	CapitaLand Ltd.		543,390
	1,023,326	Keppel REIT		907,123

				3,102,775

		Spain — 1.2%
	158,888	Merlin Properties SOCIMI S.A.		1,782,094

		Sweden — 3.0%
	88,345	Kungsleden AB		1,192,754
	82,190	Nyfosa AB		1,271,747
	352,894	Samhallsbyggnadsbolaget i Norden AB		1,768,077

				4,232,578

		United Kingdom — 5.4%
	238,398	Capital & Counties Properties PLC(a)		565,389
	135,238	Land Securities Group PLC		1,331,063
	210,413	Segro PLC		3,556,872
	784,374	Tritax Big Box REIT PLC		2,294,732

				7,748,056

		United States — 58.8%
	33,959	Agree Realty Corp.	$	2,552,019
	76,700	Americold Realty Trust		2,979,795
	263,400	Brixmor Property Group, Inc.		6,063,468
	20,979	EastGroup Properties, Inc.		3,696,919
	8,200	Equinix, Inc.		6,727,362
	24,200	Essex Property Trust, Inc.		7,940,020
	37,600	Extra Space Storage, Inc.		6,547,664
	156,000	Global Medical REIT, Inc.		2,427,360
	225,500	Host Hotels & Resorts, Inc.(a)		3,592,215
	240,600	Independence Realty Trust, Inc.		4,638,768
	80,400	Invitation Homes, Inc.		3,270,672
	51,300	Kilroy Realty Corp.		3,553,551
	182,000	Macerich Co. (The)		2,966,600
	328,200	Paramount Group, Inc.		3,203,232
	45,100	ProLogis, Inc.		5,774,604
	5,100	SBA Communications Corp.		1,739,049
	21,300	Sun Communities, Inc.		4,177,143
	95,900	Ventas, Inc.		5,732,902
	198,000	VICI Properties, Inc.		6,175,620

				83,758,963

		Total Common Stocks (Identified Cost $124,539,711)		142,216,978


Principal Amount
	Short-Term Investments — 3.1%
$	4,391,916	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $4,391,916 on 8/02/2021 collateralized by $4,409,900 U.S. Treasury Note, 1.250% due 6/30/2028 valued at $4,479,854 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $4,391,916)		4,391,916


		Total Investments — 102.9% (Identified Cost $128,931,627)		146,608,894
		Other Assets Less Liabilities — (2.9)%		(4,144,665	)

		Net Assets — 100.0%	$	142,464,229


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.

	J-REIT	Japan Real Estate Investment Trust
	REITs	Real Estate Investment Trusts

Industry Summary at July 31, 2021 (Unaudited)


REITs — Diversified	21.0	%
Real Estate Management & Development	19.8
REITs — Warehouse/Industrials	17.2
REITs — Apartments	11.2
REITs — Office Property	6.3
REITs — Health Care	5.7
REITs — Storage	4.6
REITs — Shopping Centers	4.5
REITs — Manufactured Homes	2.9
REITs — Hotels	2.7
REITs — Regional Malls	2.1
REITs — Single Tenant	1.8
Short-Term Investments	3.1

Total Investments	102.9
Other assets less liabilities	(2.9	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 8

Portfolio of Investments – as of July 31, 2021 (Unaudited)

AEW Global Focused Real Estate Fund – (continued)

Currency Exposure Summary at July 31, 2021 (Unaudited)


United States Dollar	61.9	%
Euro	10.1
Japanese Yen	9.2
British Pound	5.4
Hong Kong Dollar	4.5
Canadian Dollar	3.7
Swedish Krona	3.0
Australian Dollar	2.9
Singapore Dollar	2.2

Total Investments	102.9
Other assets less liabilities	(2.9	)

Net Assets	100.0	%

See accompanying notes to financial statements.

9 |

Statement of Assets and Liabilities

July 31, 2021 (Unaudited)


ASSETS
Investments at cost	$	128,931,627
Net unrealized appreciation		17,677,267

Investments at value		146,608,894
Receivable for Fund shares sold		680,646
Dividends receivable		80,888
Tax reclaims receivable		16,269
Prepaid expenses (Note 7)		11

TOTAL ASSETS		147,386,708

LIABILITIES
Payable for securities purchased		74,309
Payable for Fund shares redeemed		4,514,558
Management fees payable (Note 5)		67,101
Deferred Trustees’ fees (Note 5)		176,290
Administrative fees payable (Note 5)		5,171
Payable to distributor (Note 5d)		1,748
Other accounts payable and accrued expenses		83,302

TOTAL LIABILITIES		4,922,479

NET ASSETS	$	142,464,229

NET ASSETS CONSIST OF:
Paid-in capital	$	124,674,887
Accumulated earnings		17,789,342

NET ASSETS	$	142,464,229

COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class A shares:
Net assets	$	25,663,071

Shares of beneficial interest		1,703,349

Net asset value and redemption price per share	$	15.07

Offering price per share (100/94.25 of net asset value) (Note 1)	$	15.99

Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)
Net assets	$	483,170

Shares of beneficial interest		31,857

Net asset value and offering price per share	$	15.17

Class N shares:
Net assets	$	3,329,704

Shares of beneficial interest		243,489

Net asset value, offering and redemption price per share	$	13.67

Class Y shares:
Net assets	$	112,988,284

Shares of beneficial interest		8,283,745

Net asset value, offering and redemption price per share	$	13.64

See accompanying notes to financial statements.

| 10

Statement of Operations

For the Six Months Ended July 31, 2021 (Unaudited)


INVESTMENT INCOME
Dividends	$	1,555,496
Less net foreign taxes withheld		(94,072	)

		1,461,424

Expenses
Management fees (Note 5)		384,107
Service and distribution fees (Note 5)		33,297
Administrative fees (Note 5)		21,853
Trustees’ fees and expenses (Note 5)		22,351
Transfer agent fees and expenses (Notes 5 and 6)		60,868
Audit and tax services fees		31,960
Custodian fees and expenses		37,125
Legal fees (Note 7)		1,598
Registration fees		45,599
Shareholder reporting expenses		13,913
Miscellaneous expenses (Note 7)		17,727

Total expenses		670,398
Less waiver and/or expense reimbursement (Notes 5 and 7)		(176,837	)

Net expenses		493,561

Net investment income		967,863

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS
Net realized gain (loss) on:
Investments		7,114,001
Foreign currency transactions (Note 2c)		(10,735	)
Capital gain distributions received (Note 2)		81,848
Net change in unrealized appreciation (depreciation) on:
Investments		11,817,321
Foreign currency translations (Note 2c)		(964	)

Net realized and unrealized gain on investments and foreign currency transactions		19,001,471

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	19,969,334

See accompanying notes to financial statements.

11 |

Statement of Changes in Net Assets


	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021
FROM OPERATIONS:
Net investment income	$	967,863		$	1,439,317
Net realized gain (loss) on investments and foreign currency transactions		7,185,114			(4,282,183	)
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations		11,816,357			(9,066,735	)

Net increase (decrease) in net assets resulting from operations		19,969,334			(11,909,601	)

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class A		(413,065	)		(836,667	)
Class C		(9,247	)		(24,340	)
Class N		(63,474	)		(108,101	)
Class Y		(1,247,245	)		(2,427,151	)

Total distributions		(1,733,031	)		(3,396,259	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		48,792,819			(38,765,689	)

Net increase (decrease) in net assets		67,029,122			(54,071,549	)
NET ASSETS
Beginning of the period		75,435,107			129,506,656

End of the period	$	142,464,229		$	75,435,107

See accompanying notes to financial statements.

| 12

Financial Highlights

For a share outstanding throughout each period


	Class A
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017
Net asset value, beginning of the period	$	12.48		$	14.23		$	14.62		$	14.49		$	15.84		$	15.93

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.12			0.17			0.22			0.25			0.24			0.18
Net realized and unrealized gain (loss)		2.71			(1.52	)		1.61			1.07			(0.14	)		1.33

Total from Investment Operations		2.83			(1.35	)		1.83			1.32			0.10			1.51

LESS DISTRIBUTIONS FROM:
Net investment income		(0.24	)		(0.22	)		(0.39	)		(0.23	)		(0.22	)		(0.22	)
Net realized capital gains		—			(0.18	)		(1.83	)		(0.96	)		(1.23	)		(1.38	)

Total Distributions		(0.24	)		(0.40	)		(2.22	)		(1.19	)		(1.45	)		(1.60	)

Net asset value, end of the period	$	15.07		$	12.48		$	14.23		$	14.62		$	14.49		$	15.84

Total return(b)(c)		22.89	%(d)		(8.94	)%		13.18	%		9.95	%		0.49	%		9.51	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	25,663		$	22,619		$	33,864		$	38,826		$	41,189		$	58,312
Net expenses(e)		1.15	%(f)		1.15	%		1.18	%(g)		1.25	%		1.29	%(h)		1.35	%
Gross expenses		1.50	%(f)		1.55	%		1.50	%		1.45	%		1.43	%		1.38	%
Net investment income		1.76	%(f)		1.43	%		1.46	%		1.75	%		1.49	%		1.06	%
Portfolio turnover rate		45	%		119	%		107	%(i)		20	%		11	%		13	%

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	A sales charge for Class A shares is not reflected in total return calculations.

(c)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(d)	Periods less than one year are not annualized.

(e)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f)	Computed on an annualized basis for periods less than one year.

(g)	Effective June 1, 2019, the expense limit decreased from 1.25% to 1.15%.

(h)	Effective July 1, 2017, the expense limit decreased from 1.35% to 1.25%.

(i)	The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. Portfolio turnover is expected to remain higher as a result of the strategy change.

See accompanying notes to financial statements.

13 |

Financial Highlights (continued)

For a share outstanding throughout each period


	Class C
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017
Net asset value, beginning of the period	$	12.56		$	14.32		$	14.70		$	14.54		$	15.87		$	15.95

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.08			0.08			0.11			0.14			0.11			0.06
Net realized and unrealized gain (loss)		2.71			(1.53	)		1.61			1.06			(0.12	)		1.33

Total from Investment Operations		2.79			(1.45	)		1.72			1.20			(0.01	)		1.39

LESS DISTRIBUTIONS FROM:
Net investment income		(0.18	)		(0.13	)		(0.27	)		(0.08	)		(0.09	)		(0.09	)
Net realized capital gains		—			(0.18	)		(1.83	)		(0.96	)		(1.23	)		(1.38	)

Total Distributions		(0.18	)		(0.31	)		(2.10	)		(1.04	)		(1.32	)		(1.47	)

Net asset value, end of the period	$	15.17		$	12.56		$	14.32		$	14.70		$	14.54		$	15.87

Total return(b)(c)		22.42	%(d)		(9.68	)%		12.35	%		9.03	%		(0.21	)%		8.67	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	483		$	643		$	1,391		$	1,946		$	4,472		$	7,307
Net expenses(e)		1.90	%(f)		1.90	%		1.93	%(g)		2.00	%		2.05	%(h)		2.10	%
Gross expenses		2.26	%(f)		2.30	%		2.25	%		2.20	%		2.18	%		2.13	%
Net investment income		1.10	%(f)		0.67	%		0.71	%		0.98	%		0.71	%		0.34	%
Portfolio turnover rate		45	%		119	%		107	%(i)		20	%		11	%		13	%

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	A contingent deferred sales charge for Class C shares is not reflected in total return calculations.

(c)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(d)	Periods less than one year are not annualized.

(e)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f)	Computed on an annualized basis for periods less than one year.

(g)	Effective June 1, 2019, the expense limit decreased from 2.00% to 1.90%.

(h)	Effective July 1, 2017, the expense limit decreased from 2.10% to 2.00%.

(i)	The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. Portfolio turnover is expected to remain higher as a result of the strategy change.

See accompanying notes to financial statements.

| 14

Financial Highlights (continued)

For a share outstanding throughout each period


	Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017
Net asset value, beginning of the period	$	11.35		$	13.00		$	13.54		$	13.52		$	14.87		$	15.05

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.13			0.17			0.24			0.27			0.26			0.22
Net realized and unrealized gain (loss)		2.45			(1.38	)		1.48			0.98			(0.11	)		1.27

Total from Investment Operations		2.58			(1.21	)		1.72			1.25			0.15			1.49

LESS DISTRIBUTIONS FROM:
Net investment income		(0.26	)		(0.26	)		(0.43	)		(0.27	)		(0.27	)		(0.29	)
Net realized capital gains		—			(0.18	)		(1.83	)		(0.96	)		(1.23	)		(1.38	)

Total Distributions		(0.26	)		(0.44	)		(2.26	)		(1.23	)		(1.50	)		(1.67	)

Net asset value, end of the period	$	13.67		$	11.35		$	13.00		$	13.54		$	13.52		$	14.87

Total return		22.98	%(b)(c)		(8.67	)%(b)		13.49	%(b)		10.22	%(b)		0.88	%(b)		9.91	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,330		$	2,810		$	10,319		$	6,830		$	6,865		$	6,108
Net expenses		0.85	%(d)(e)		0.85	%(d)		0.88	%(d)(f)		0.95	%(d)		0.97	%(d)(g)		0.97	%
Gross expenses		1.18	%(e)		1.17	%		1.09	%		1.00	%		1.01	%		0.97	%
Net investment income		2.06	%(e)		1.55	%		1.69	%		2.07	%		1.79	%		1.38	%
Portfolio turnover rate		45	%		119	%		107	%(h)		20	%		11	%		13	%

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Effective June 1, 2019, the expense limit decreased from 0.95% to 0.85%.

(g)	Effective July 1, 2017, the expense limit decreased from 1.05% to 0.95%.

(h)	The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. Portfolio turnover is expected to remain higher as a result of the strategy change.

See accompanying notes to financial statements.

15 |

Financial Highlights (continued)

For a share outstanding throughout each period


	Class Y
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018			Year Ended January 31, 2017
Net asset value, beginning of the period	$	11.32		$	12.96		$	13.50		$	13.48		$	14.84		$	15.01

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.12			0.18			0.24			0.27			0.25			0.21
Net realized and unrealized gain (loss)		2.45			(1.38	)		1.47			0.98			(0.12	)		1.27

Total from Investment Operations		2.57			(1.20	)		1.71			1.25			0.13			1.48

LESS DISTRIBUTIONS FROM:
Net investment income		(0.25	)		(0.26	)		(0.42	)		(0.27	)		(0.26	)		(0.27	)
Net realized capital gains		—			(0.18	)		(1.83	)		(0.96	)		(1.23	)		(1.38	)

Total Distributions		(0.25	)		(0.44	)		(2.25	)		(1.23	)		(1.49	)		(1.65	)

Net asset value, end of the period	$	13.64		$	11.32		$	12.96		$	13.50		$	13.48		$	14.84

Total return(b)		23.02	%(c)		(8.68	)%		13.48	%		10.19	%		0.73	%		9.78	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	112,988		$	49,363		$	83,933		$	73,173		$	88,954		$	126,203
Net expenses(d)		0.90	%(e)		0.90	%		0.93	%(f)		1.00	%		1.04	%(g)		1.10	%
Gross expenses		1.24	%(e)		1.30	%		1.25	%		1.20	%		1.18	%		1.13	%
Net investment income		1.93	%(e)		1.69	%		1.72	%		2.00	%		1.71	%		1.30	%
Portfolio turnover rate		45	%		119	%		107	%(h)		20	%		11	%		13	%

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Effective June 1, 2019, the expense limit decreased from 1.00% to 0.90%.

(g)	Effective July 1, 2017, the expense limit decreased from 1.10% to 1.00%.

(h)	The variation in the Fund’s turnover rate from the year ended January 31, 2019 to the year ended January 31, 2020 was primarily due to a change in the investment strategy of the Fund. Portfolio turnover is expected to remain higher as a result of the strategy change.

See accompanying notes to financial statements.

| 16

Notes to Financial Statements

July 31, 2021 (Unaudited)

1. Organization. Natixis Funds Trust IV (the “Trust”) is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. Information presented in this report pertains to AEW Global Focused Real Estate Fund (the “Fund”).

The Fund is a diversified investment company.

The Fund offers Class A, Class C, Class N and Class Y shares.

Class A shares are sold with a maximum front-end sales charge of 5.75%. Class C shares do not pay a front-end sales charge, pay higher Rule 12b-1 fees than Class A shares for eight years (at which point they automatically convert to Class A shares) (prior to May 1, 2021, Class C shares automatically converted to Class A shares after ten years) and may be subject to a contingent deferred sales charge (“CDSC”) of 1.00% if those shares are redeemed within one year of acquisition, except for reinvested distributions. Class N and Class Y shares do not pay a front-end sales charge, a CDSC or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Class Y shares are offered with an initial minimum investment of $100,000. Certain categories of investors are exempted from the minimum investment amounts for Class N and Class Y as outlined in the Fund’s prospectus.

Most expenses can be directly attributed to a Fund. Expenses which cannot be directly attributed to a Fund are generally apportioned based on the relative net assets of each of the funds in Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV and Gateway Trust (“Natixis Funds Trusts”), Loomis Sayles Funds I and Loomis Sayles Funds II (“Loomis Sayles Funds Trusts”) and Natixis ETF Trust and Natixis ETF Trust II (“Natixis ETF Trusts”). Expenses of the Fund are borne pro rata by the holders of each class of shares, except that each class bears expenses unique to that class (such as the Rule 12b-1 fees applicable to Class A and Class C), and transfer agent fees are borne collectively for Class A, Class C and Class Y and individually for Class N. In addition, each class votes as a class only with respect to its own Rule 12b-1 Plan. Shares of each class would receive their pro rata share of the net assets of the Fund if the Fund were liquidated. The Trustees approve separate distributions from net investment income on each class of shares.

2. Significant Accounting Policies. The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund’s financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to period-end through the date the financial statements were issued and has determined that there were no material events that would require disclosure in the Fund’s financial statements.

a. Valuation. 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

17 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

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 a 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.

As of July 31, 2021, securities held by the Fund were fair valued as follows:


Equity securities¹	Percentage of Net Assets
$ 45,203,947		31.7	%

¹	Certain foreign equity securities were fair valued pursuant to procedures approved by the Board of Trustees as events occurring after the close of the foreign market were believed to materially affect the value of those securities.

b. Investment Transactions and Related Investment Income. Investment transactions are accounted for on a trade date plus one day basis for daily NAV calculation. However, for financial reporting purposes, investment transactions are reported on the trade date. Dividend income (including income reinvested) and foreign withholding tax, if applicable, is recorded on the ex-dividend date, or in the case of certain foreign securities, as soon as the Fund is notified, and interest income is recorded on an accrual basis. Distributions received from investments in securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments or as a realized gain, respectively. The calendar year-end amounts of ordinary income, capital gains, and return of capital included in dividends received from the Fund’s investments in real estate investment trusts (“REITs”) are reported to the Fund after the end of the calendar year; accordingly, the Fund estimates these amounts for accounting purposes until the characterization of REIT distributions is reported to the Fund after the end of the calendar year. Estimates for the period from February 1 through July 31, 2021 are included in the Statement of Operations. Estimates are based on the most recent REIT distribution information available. Interest income is increased by the accretion of discount and decreased by the amortization of premium, if applicable. In determining net gain or loss on securities sold, the cost of securities has been determined on an identified cost basis. Investment income, non-class-specific expenses and realized and unrealized gains and losses are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of the Fund.

c. Foreign Currency Translation. 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, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars on the respective dates of such transactions.

Net realized foreign exchange gains or losses arise from sales of foreign currency, changes in exchange rates between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investment securities, as of the end of the fiscal period, resulting from changes in exchange rates. Net realized foreign exchange gains or losses and the net change in unrealized foreign exchange gains or losses are disclosed in the Statement of Operations. For federal income tax purposes, net realized foreign exchange gains or losses are characterized as ordinary income, and may, if the Fund has net losses, reduce the amount of income available to be distributed by the Fund.

The values of investment securities are presented at the foreign exchange rates prevailing at the end of the period for financial reporting purposes. Net realized and unrealized gains or losses on investments reported in the Statement of Operations reflect gains or losses resulting from changes in exchange rates and fluctuations which arise due to changes in market prices of investment securities.

The Fund may use foreign currency exchange contracts to facilitate transactions in foreign-denominated investments. Losses may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.

d. Federal and Foreign Income Taxes. The Fund intends to meet the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute to its shareholders substantially all of its net investment income and any net realized capital gains at least annually. Management has performed an analysis of the Fund’s tax positions for the open tax years as of July 31, 2021 and has concluded that no provisions for income tax are required. The Fund’s federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. Management is not aware of any events that are reasonably possible to occur in the next six months that would result in the amounts of any unrecognized tax benefits significantly increasing or decreasing for the Fund. However, management’s conclusions regarding tax positions taken may be subject to review

| 18

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

and adjustment at a later date based on factors including, but not limited to, new tax laws and accounting regulations and interpretations thereof.

The Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund’s understanding of the tax rules and regulations that exist in the countries in which the Fund invests. Foreign withholding taxes on dividend and interest income are reflected on the Statement of Operations as a reduction of investment income, net of amounts that have been or are expected to be reclaimed and paid. Dividends and interest receivable on the Statement of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or are expected to be filed and paid are reflected on the Statement of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statement of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statement of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to the Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statement of Assets and Liabilities and are recorded as a realized gain when received.

e. Dividends and Distributions to Shareholders. Dividends and distributions are recorded on the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. When the Fund identifies the character of distributions paid by REITs in the previous calendar year, certain distributions to Fund shareholders may be redesignated as capital gain distributions or, if in excess of taxable income, as a return of capital. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as distribution re-designations, foreign currency gains and losses, passive foreign investment company adjustments, capital gain distributions received and return of capital distributions received. Permanent book and tax basis differences relating to shareholder distributions, net investment income, and net realized gains will result in reclassifications to the capital accounts reported on the Statement of Assets and Liabilities. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees’ fees, passive foreign investment company adjustments and wash sales. Amounts of income and capital gain available to be distributed on a tax basis are determined annually, and at other times during the Fund’s fiscal year as may be necessary to avoid knowingly declaring and paying a return of capital distribution. Distributions from net investment income and short-term capital gains are considered to be distributed from ordinary income for tax purposes.

The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the year ended January 31, 2021 was as follows:


2021 Distributions
Ordinary Income		Long-Term Capital Gains		Total
	$1,844,382	$	1,551,877	$	3,396,259

Distributions paid to shareholders from net investment income and net realized capital gains, based on accounting principles generally accepted in the United States of America, are consolidated and reported on the Statement of Changes in Net Assets as Distributions to Shareholders. Distributions paid to shareholders from net investment income and net realized capital gains expressed in per-share amounts, based on accounting principles generally accepted in the United States of America, are separately stated and reported within the Financial Highlights.

As of January 31, 2021, capital loss carryforwards were as follows:


Capital loss carryforward:
Short-term:
No expiration date	$	(4,018,468	)
Long-term:
No expiration date		(1,507,627	)

Total capital loss carryforward	$	(5,526,095	)

19 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

As of July 31, 2021, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:


Federal tax cost	$	128,931,627

Gross tax appreciation	$	18,415,266
Gross tax depreciation		(737,999	)

Net tax appreciation	$	17,677,267

Amounts in the table above exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Adjustments may include, but are not limited to, wash sales.

f. Repurchase Agreements. 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 July 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. The gross value of repurchase agreements is included in the Statement of Assets and Liabilities for financial reporting purposes.

g. Securities Lending. The Fund has entered into an agreement with State Street Bank and Trust Company (“State Street Bank”), as agent of the Fund, to lend securities to certain designated borrowers. The loans are collateralized with cash or securities in an amount equal to at least 105% or 102% of the market value (including accrued interest) of the loaned international or domestic securities, respectively, when the loan is initiated. Thereafter, the value of the collateral must remain at least 102% of the market value (including accrued interest) of loaned securities for U.S. equities and U.S. corporate debt; at least 105% of the market value (including accrued interest) of loaned securities for non-U.S. equities; and at least 100% of the market value (including accrued interest) of loaned securities for U.S. Government securities, sovereign debt issued by non-U.S. Governments and non-U.S. corporate debt. In the event that the market value of the collateral falls below the required percentages described above, the borrower will deliver additional collateral on the next business day. As with other extensions of credit, the Fund may bear the risk of loss with respect to the investment of the collateral. The Fund invests cash collateral in short-term investments, a portion of the income from which is remitted to the borrowers and the remainder allocated between the Fund and State Street Bank as lending agent.

For the six months ended July 31, 2021, the Fund did not loan securities under this agreement.

h. Indemnifications. Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

3. 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.

| 20

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

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

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	—	$	4,186,885	$	—	$	4,186,885
France		—		2,846,220		—		2,846,220
Germany		760,424		8,845,047		—		9,605,471
Hong Kong		1,588,063		4,812,136		—		6,400,199
Japan		2,659,883		10,393,242		—		13,053,125
Netherlands		—		294,738		—		294,738
Singapore		—		3,102,775		—		3,102,775
Spain		—		1,782,094		—		1,782,094
Sweden		3,039,824		1,192,754		—		4,232,578
United Kingdom		—		7,748,056		—		7,748,056
All Other Common Stocks(a)		88,964,837		—		—		88,964,837

Total Common Stocks	$	97,013,031	$	45,203,947	$	—	$	142,216,978

Short-Term Investments		—		4,391,916		—		4,391,916

Total	$	97,013,031	$	49,595,863	$	—	$	146,608,894

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

4. Purchases and Sales of Securities. For the six months ended July 31, 2021, purchases and sales of securities (excluding short-term investments) were $95,197,016 and $45,833,272, respectively.

5. Management Fees and Other Transactions with Affiliates.

a. Management Fees. AEW Capital Management, L.P. (“AEW”) serves as the investment adviser to the Fund. AEW is a wholly-owned subsidiary of Natixis Investment Managers, LLC, which is part of Natixis Investment Managers, an international asset management group based in Paris, France. Under the terms of the management agreement, the Fund pays a management fee at the annual rate of 0.75%, calculated daily and payable monthly, based on the Fund’s average daily net assets.

AEW has given a binding undertaking to the Fund to waive management fees and/or reimburse certain expenses to limit the Fund’s operating expenses, exclusive of acquired fund fees and expenses, brokerage expenses, interest expense, taxes, organizational and extraordinary expenses such as litigation and indemnification expenses. This undertaking is in effect until May 31, 2022, may be terminated before then only with the consent of the Fund’s Board of Trustees, and is reevaluated on an annual basis. Management fees payable, as reflected on the Statement of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statement of Assets and Liabilities as receivable from investment adviser.

For the six months ended July 31, 2021, the expense limits as a percentage of average daily net assets under the expense limitation agreement were as follows:


Expense Limit as a Percentage of Average Daily Net Assets
Class A	Class C	Class N	Class Y
1.15%	1.90%	0.85%	0.90%

AEW shall be permitted to recover expenses borne under the expense limitation agreement (whether through waiver of management fees or otherwise) on a class by class basis in later periods to the extent the annual operating expenses of a class fall below both (1) a class’ expense limitation ratio in place at the time such amounts were waived/reimbursed and (2) a class’ current applicable expense limitation ratio, provided, however, that a class is not obligated to pay such waived/reimbursed fees or expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

21 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

For the six months ended July 31, 2021, the management fees and waiver of management fees for the Fund were as follows:


Gross Management Fees	Contractual Waivers of Management Fees¹	Net Management Fees	Percentage of Average Daily Net Assets
Gross Management Fees	Contractual Waivers of Management Fees¹	Net Management Fees	Gross	Net
$384,107	$175,903	$208,204	0.75%	0.41%

¹	Management fee waiver is subject to possible recovery until January 31, 2023.

No expenses were recovered during the six months ended July 31, 2021 under the terms of the expense limitation agreement.

b. Service and Distribution Fees. Natixis Distribution, LLC (“Natixis Distribution”), which is a wholly-owned subsidiary of Natixis Investment Managers, LLC, has entered into a distribution agreement with the Trust. Pursuant to this agreement, Natixis Distribution serves as principal underwriter of the Fund.

Pursuant to Rule 12b-1 under the 1940 Act, the Trust has adopted a Service Plan relating to the Fund’s Class A shares (the “Class A Plan”) and a Distribution and Service Plan relating to the Fund’s Class C shares (the “Class C Plan”).

Under the Class A Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class A shares, as reimbursement for expenses incurred by Natixis Distribution in providing personal services to investors in Class A shares and/or the maintenance of shareholder accounts.

Under the Class C Plan, the Fund pays Natixis Distribution a monthly service fee at an annual rate not to exceed 0.25% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by Natixis Distribution in providing personal services to investors in Class C shares and/or the maintenance of shareholder accounts.

Also under the Class C Plan, the Fund pays Natixis Distribution a monthly distribution fee at the annual rate of 0.75% of the average daily net assets attributable to the Fund’s Class C shares, as compensation for services provided by Natixis Distribution in connection with the marketing or sale of Class C shares.

For the six months ended July 31, 2021, the service and distribution fees for the Fund were as follows:


Service Fees		Distribution Fees
Class A	Class C	Class C
$30,335	$741	$2,221

c. Administrative Fees. Natixis Advisors, LLC (“Natixis Advisors”) provides certain administrative services for the Fund and contracts with State Street Bank to serve as sub-administrator. Natixis Advisors is a wholly-owned subsidiary of Natixis Investment Managers, LLC. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trusts and Natixis Advisors, the Fund pays Natixis Advisors monthly its pro rata portion of fees equal to an annual rate of 0.0540% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts of $10 million, which is reevaluated on an annual basis.

For the six months ended July 31, 2021, the administrative fees were as follows:

Administrative Fees

$21,853

d. Sub-Transfer Agent Fees. Natixis Distribution has entered into agreements, which include servicing agreements, with financial intermediaries that provide recordkeeping, processing, shareholder communications and other services to customers of the intermediaries that hold positions in the Fund and has agreed to compensate the intermediaries for providing those services. Intermediaries transact with the Fund primarily through the use of omnibus accounts on behalf of their customers who hold positions in the Fund. These services would have been provided by the Fund’s transfer agent and other service providers if the shareholders’ accounts were maintained directly at the Fund’s transfer agent. Accordingly, the Fund has agreed to reimburse Natixis Distribution for all or a portion of the servicing fees paid to these intermediaries. The reimbursement amounts (sub-transfer agent fees) paid to Natixis Distribution are subject to a current per-account equivalent fee limit approved by the Fund’s Board of Trustees, which is based on fees for similar services paid to the Fund’s transfer agent and other service providers. Class N shares do not bear such expenses.

For the six months ended July 31, 2021, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $44,845.

| 22

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

As of July 31, 2021, the Fund owes Natixis Distribution $1,748 in reimbursements for sub-transfer agent fees (which are reflected in the Statement of Assets and Liabilities as payable to distributor).

Sub-transfer agent fees attributable to Class A, Class C and Class Y are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes.

e. Commissions. Commissions (including CDSCs) on Fund shares retained by Natixis Distribution during the six months ended July 31, 2021 amounted to $139.

f. Trustees Fees and Expenses. The Trust does not pay any compensation directly to its officers or Trustees who are directors, officers or employees of Natixis Advisors, Natixis Distribution, Natixis Investment Managers, LLC or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $369,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that he attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $199,000. Each Independent Trustee also receives a meeting attendance fee of $10,000 for each meeting of the Board of Trustees that he or she attends in person and $5,000 for each meeting of the Board of Trustees that he or she attends telephonically. In addition, the chairperson of the Contract Review Committee, the chairperson of the Audit Committee and the chairperson of the Governance Committee each receive an additional retainer fee at the annual rate of $20,000. Each Contract Review Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. These fees are allocated among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts based on a formula that takes into account, among other factors, the relative net assets of each fund. Trustees are reimbursed for travel expenses in connection with attendance at meetings.

A deferred compensation plan (the “Plan”) is available to the Trustees on a voluntary basis. Deferred amounts remain in the Fund until distributed in accordance with the provisions of the Plan. The value of a participating Trustee’s deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, and are normally reflected as Trustees’ fees and expenses in the Statement of Operations. The portions of the accrued obligations allocated to the Fund under the Plan are reflected as Deferred Trustees’ fees in the Statement of Assets and Liabilities.

Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.

g. Reimbursement of Transfer Agent Fees and Expenses. Natixis Advisors has given a binding contractual undertaking to the Fund to reimburse any and all transfer agency expenses for the Fund’s Class N shares. This undertaking is in effect through May 31, 2022 and is not subject to recovery under the expense limitation agreement described above.

For the six months ended July 31, 2021, Natixis Advisors reimbursed the Fund $934 for transfer agency expenses related to Class N shares.

6. Class-Specific Transfer Agent Fees and Expenses. Transfer agent fees and expenses attributable to Class A, Class C and Class Y are allocated on a pro rata basis to each class based on the relative net assets of each class to the total net assets of those classes. Transfer agent fees and expenses attributable to Class N are allocated to Class N.

For the six months ended July 31, 2021, the Fund incurred the following class-specific transfer agent fees and expenses (including sub-transfer agent fees, where applicable):


	Class A		Class C		Class N		Class Y
Transfer Agent Fees and Expenses	$	15,300	$	389	$	934	$	44,245

7. Line of Credit. The Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, entered into a $500,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (as long as all borrowings by all Funds in the aggregate do not exceed the $500,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit. Interest is charged to the Funds based upon the terms set forth in the agreement. In addition, a commitment fee of 0.15% per annum, payable at the end of each calendar quarter, is accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit. The Funds paid an arrangement fee, an upfront fee, and certain other legal fees in connection with the line of credit agreement, which are being amortized over a period of 364 days and are reflected in legal fees and/or miscellaneous expenses on the Statement of Operations. The unamortized balance is reflected as prepaid expenses on the Statement of Assets and Liabilities.

23 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Prior to April 8, 2021, the Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, entered into a $400,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (as long as all borrowings by all Funds in the aggregate do not exceed the $400,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit.

For the six months ended July 31, 2021, the Fund had no borrowings under this agreement.

8. Risk. The Fund concentrates its investments in real estate securities, including REITs. A fund with a concentrated portfolio is vulnerable to the risks of the industry in which it invests and is subject to greater risks and market fluctuations than funds investing in a broader range of industries. Real estate securities are susceptible to the risks associated with direct ownership of real estate such as declining property values, increases in property taxes, operating expenses, interest rates or competition, zoning changes and losses from casualty and condemnation.

The Fund’s investments in foreign securities may be subject to greater political, economic, environmental, credit/counterparty and information risks. The Fund’s investments in foreign securities also are subject to foreign currency fluctuations and other foreign currency-related risks. Foreign securities may be subject to higher volatility than U.S. securities, varying degrees of regulation and limited liquidity.

Global markets have experienced periods of high volatility triggered by the Covid-19 pandemic. The impact of this pandemic and any other epidemic or pandemic that may arise in the future could adversely affect the economies of many nations or the entire global economy and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Such effects could impair the Fund’s ability to maintain operational standards, disrupt the operations of the Fund’s service providers, adversely affect the value and liquidity of the Fund’s investments and negatively impact the Fund’s performance.

9. Concentration of Ownership. From time to time, a Fund may have a concentration of one or more accounts constituting a significant percentage of shares outstanding. Investment activities by holders of such accounts could have material impacts on the Fund. As of July 31, 2021, based on management’s evaluation of the shareholder account base, the Fund had accounts representing controlling ownership of more than 5% of the Fund’s total outstanding shares. The number of such accounts, based on accounts that represent more than 5% of an individual class of shares, and the aggregate percentage of net assets represented by such holdings were as follows:

Number of 5%

Account Holders

Percentage of
Ownership

45.79%

Omnibus shareholder accounts for which Natixis Advisors understands that the intermediary has discretion over the underlying shareholder accounts or investment models where a shareholder account may be invested for a non-discretionary customer are included in the table above. For other omnibus accounts, the Fund does not have information on the individual shareholder accounts underlying the omnibus accounts; therefore, there could be other 5% shareholders in addition to those disclosed in the table above.

| 24

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

10. Capital Shares. The Fund may issue an unlimited number of shares of beneficial interest without par value. Transactions in capital shares were as follows:


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class A
Issued from the sale of shares		120,326		$	1,677,733			232,954		$	2,777,090
Issued in connection with the reinvestment of distributions		29,615			395,287			74,415			795,812
Redeemed		(259,112	)		(3,580,882	)		(874,660	)		(10,653,558	)

Net change		(109,171	)	$	(1,507,862	)		(567,291	)	$	(7,080,656	)

Class C
Issued from the sale of shares		806		$	11,170			7,610		$	91,522
Issued in connection with the reinvestment of distributions		695			9,184			1,853			19,462
Redeemed		(20,850	)		(296,489	)		(55,421	)		(637,394	)

Net change		(19,349	)	$	(276,135	)		(45,958	)	$	(526,410	)

Class N
Issued from the sale of shares		28,420		$	354,158			113,790		$	1,210,785
Issued in connection with the reinvestment of distributions		4,913			59,738			10,445			103,053
Redeemed		(37,444	)		(481,739	)		(670,111	)		(8,514,979	)

Net change		(4,111	)	$	(67,843	)		(545,876	)	$	(7,201,141	)

Class Y
Issued from the sale of shares		5,309,679		$	68,803,714			2,147,833		$	22,067,789
Issued in connection with the reinvestment of distributions		98,790			1,212,524			244,026			2,363,363
Redeemed		(1,485,971	)		(19,371,579	)		(4,504,542	)		(48,388,634	)

Net change		3,922,498		$	50,644,659			(2,112,683	)	$	(23,957,482	)

Increase (decrease) from capital share transactions		3,789,867		$	48,792,819			(3,271,808	)	$	(38,765,689	)

25 |

LOGO

Semiannual Report

July 31, 2021

Natixis Sustainable Future 2015 Fund^®

Natixis Sustainable Future 2020 Fund^®

Natixis Sustainable Future 2025 Fund^®

Natixis Sustainable Future 2030 Fund^®

Natixis Sustainable Future 2035 Fund^®

Natixis Sustainable Future 2040 Fund^®

Natixis Sustainable Future 2045 Fund^®

Natixis Sustainable Future 2050 Fund^®

Natixis Sustainable Future 2055 Fund^®

Natixis Sustainable Future 2060 Fund^®

Table of Contents


Portfolio Review			1
Portfolio of Investments			13
Financial Statements			83
Notes to Financial Statements			101

LOGO

NATIXIS SUSTAINABLE FUTURE FUNDS^®



Managers		Symbols

Natixis Advisors, LLC*

AIA U.S. Large Cap Value ESG Segment AIA U.S. Small/Mid Cap ESG Segment AIA International Developed Markets Equity ESG Segment Natixis Investment Managers Solutions, a division of Natixis Advisors, LLC Harris Associates Large Cap Value Segment Harris Associates L.P. Loomis Sayles All Cap Growth Segment Loomis Sayles Core Fixed Income Segment Loomis Sayles Inflation Protected Securities Fund* Loomis Sayles Limited Term Government and Agency Fund* Loomis, Sayles & Company, L.P. Mirova US Climate Ambition Equity Segment Mirova Global Green Bond Fund* Mirova International Sustainable Equity Fund* Mirova US LLC** WCM Focused International Growth Fund WCM Focused Emerging Markets Fund WCM Investment Management		2015 Fund Class N NSFBX 2020 Fund Class N NSFDX 2025 Fund Class N NSFEX 2030 Fund Class N NSFFX 2035 Fund Class N NSFGX 2040 Fund Class N NSFHX 2045 Fund Class N NSFJX 2050 Fund Class N NSFKX 2055 Fund Class N NSFLX 2060 Fund Class N NSFMX

*	Natixis Advisors, LLC is responsible for determining each Fund’s available underlying funds and separately managed segments, determining each Fund’s glide path and target allocations and supervising the activities of each Fund’s subadvisers.

**	Subadviser

***	Affiliated mutual fund

Investment Goal

Each Fund seeks the highest total return consistent with its current asset allocation.

NATIXIS SUSTAINABLE FUTURE 2015 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		7.75	%		16.78	%		10.00	%		2.87	%		0.55	%

Comparative Performance
S&P Target Date 2015^® Index¹		6.16			13.85			8.00

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

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NATIXIS SUSTAINABLE FUTURE 2020 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		9.24	%		20.22	%		11.07	%		3.66	%		0.55	%

Comparative Performance
S&P Target Date 2020^® Index¹		6.60			15.00			8.42

NATIXIS SUSTAINABLE FUTURE 2025 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		9.75	%		21.60	%		11.52	%		2.80	%		0.56	%

Comparative Performance
S&P Target Date 2025^® Index¹		8.06			18.71			9.44

NATIXIS SUSTAINABLE FUTURE 2030 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		11.21	%		25.51	%		12.69	%		2.68	%		0.57	%

Comparative Performance
S&P Target Date 2030^® Index¹		9.41			22.21			10.35

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

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NATIXIS SUSTAINABLE FUTURE FUNDS^®

NATIXIS SUSTAINABLE FUTURE 2035 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		12.72	%		29.35	%		13.71	%		2.85	%		0.58	%

Comparative Performance
S&P Target Date 2035^® Index¹		10.94			26.21			11.30

NATIXIS SUSTAINABLE FUTURE 2040 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		13.36	%		31.26	%		14.37	%		3.18	%		0.59	%

Comparative Performance
S&P Target Date 2040^® Index¹		11.96			29.01			11.96

NATIXIS SUSTAINABLE FUTURE 2045 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		14.51	%		33.57	%		14.98	%		3.42	%		0.59	%

Comparative Performance
S&P Target Date 2045^® Index¹		12.58			30.68			12.32

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares. See notes to tables on page 4.

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NATIXIS SUSTAINABLE FUTURE 2050 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		14.75	%		34.49	%		15.22	%		3.79	%		0.60	%

Comparative Performance
S&P Target Date 2050^® Index¹		12.88			31.58			12.54

NATIXIS SUSTAINABLE FUTURE 2055 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		14.71	%		34.17	%		15.10	%		4.27	%		0.60	%

Comparative Performance
S&P Target Date 2055^® Index¹		13.05			32.00			12.63

NATIXIS SUSTAINABLE FUTURE 2060 FUND

Average Annual Total Returns — July 31, 2021²



										Expense Ratios³

	6 Months			1 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		15.10	%		35.69	%		15.44	%		5.05	%		0.60	%

Comparative Performance
S&P Target Date 2060+^® Index		12.93			31.87			12.78

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary, and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, visit im.natixis.com/performance. You may not invest directly in an index. Performance for periods less than one year is cumulative, not annualized. Returns reflect changes in share price and reinvestment of dividends and capital gains, if any. The table(s) do not reflect taxes shareholders might owe on any fund distributions or when they redeem their shares.

The S&P Target Date^® Index Series consists of multi-asset class indices, each corresponding to a specific target retirement date. The asset allocation for each index is determined through an annual survey of target date fund groups with a minimum asset threshold of $100 million. The various asset class exposures of the Indices may include equities, fixed income, REITs, and commodities depending on the allocations reported in the survey. Index returns are calculated daily.

²	Fund performance has been increased by fee waivers and/or expense reimbursements, if any, without which performance would have been lower.

Expense ratios are as shown in the Fund’s prospectus in effect as of the date of this report and include the expenses of the underlying funds in which the Fund invests. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report under Ratios to Average Net Assets. Net expenses reflect contractual expense limitations set to expire on 5/31/22. When a Fund’s expenses are below the limitation, gross and net expense ratios will be the same. See Note 5 of the Notes to Financial Statements for more information about the Fund’s expense limitations.

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ADDITIONAL INFORMATION

All investing involves risk, including the risk of loss. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

ADDITIONAL INDEX INFORMATION

PROXY VOTING INFORMATION

A description of the Natixis Funds’ proxy voting policies and procedures is available without charge, upon request, by calling Natixis Funds at 800-225-5478; on the Natixis Funds’ website at im.natixis.com; and on the Securities and Exchange Commission’s (SEC) website at www.sec.gov. Information regarding how the Natixis Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Natixis Funds’ website and the SEC’s website.

QUARTERLY PORTFOLIO SCHEDULES

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UNDERSTANDING FUND EXPENSES


NATIXIS SUSTAINABLE FUTURE 2015 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,077.50		$1.44
Hypothetical (5% return before expenses)		$1,000.00		$1,023.41		$1.40

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.28%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.


NATIXIS SUSTAINABLE FUTURE 2020 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,092.40		$1.50
Hypothetical (5% return before expenses)		$1,000.00		$1,023.36		$1.45

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.29%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.


NATIXIS SUSTAINABLE FUTURE 2025 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,097.50		$1.56
Hypothetical (5% return before expenses)		$1,000.00		$1,023.31		$1.51

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.30%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

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NATIXIS SUSTAINABLE FUTURE 2030 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,112.10		$1.62
Hypothetical (5% return before expenses)		$1,000.00		$1,023.26		$1.56

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.31%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.


NATIXIS SUSTAINABLE FUTURE 2035 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,127.20		$1.69
Hypothetical (5% return before expenses)		$1,000.00		$1,023.21		$1.61

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.32%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.


NATIXIS SUSTAINABLE FUTURE 2040 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,133.60		$1.69
Hypothetical (5% return before expenses)		$1,000.00		$1,023.21		$1.61


NATIXIS SUSTAINABLE FUTURE 2045 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,145.10		$1.65
Hypothetical (5% return before expenses)		$1,000.00		$1,023.26		$1.56


NATIXIS SUSTAINABLE FUTURE 2050 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,147.50		$1.76
Hypothetical (5% return before expenses)		$1,000.00		$1,023.16		$1.66

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.33%, multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (181), divided by 365 (to reflect the half-year period). Expense ratios do not include the expenses of the underlying funds in which the Fund invests. The annualized expense ratios, as stated in the fee table of the Prospectus, may differ from the expense ratios disclosed in this report.

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NATIXIS SUSTAINABLE FUTURE 2055 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,147.10		$1.70
Hypothetical (5% return before expenses)		$1,000.00		$1,023.21		$1.61


NATIXIS SUSTAINABLE FUTURE 2060 FUND	BEGINNING ACCOUNT VALUE 2/1/2021		ENDING ACCOUNT VALUE 7/31/2021		EXPENSES PAID DURING PERIOD* 2/1/2021 – 7/31/2021
Class N
Actual		$1,000.00		$1,151.00		$1.71
Hypothetical (5% return before expenses)		$1,000.00		$1,023.21		$1.61

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BOARD APPROVAL OF THE EXISTING ADVISORY AND SUB-ADVISORY AGREEMENTS

The Board of Trustees of the Trust (the “Board”), including the Independent Trustees, considers matters bearing on each Fund’s advisory and sub-advisory agreements (collectively, the “Agreements”) at most of its meetings throughout the year. Each year, usually in the spring, the Contract Review Committee of the Board meets to review the Agreements to determine whether to recommend that the full Board approve the continuation of the Agreements, typically for an additional one-year period. This meeting typically includes all the Independent Trustees, including the Trustees who do not serve on the Contract Review Committee. After the Contract Review Committee has made its recommendation, the full Board, including the Independent Trustees, determines whether to approve the continuation of the Agreements at its June Board Meeting.

In connection with these meetings, the Trustees receive materials that the Funds’ investment adviser and sub-advisers (collectively, the “Advisers”), believe to be reasonably necessary for the Trustees to evaluate the Agreements. These materials generally include, among other items, (i) information on the investment performance of the Funds and the performance of peer groups of funds and the Funds’ performance benchmarks, (ii) information on the Funds’ advisory and sub-advisory fees and other expenses, including information comparing the Funds’ advisory and sub-advisory fees to the fees charged to institutional accounts with similar strategies managed by the Advisers, if any, and to those of peer groups of funds and information about any applicable expense limitations and/or fee “breakpoints,” (iii) sales and redemption data in respect of the Funds, (iv) information about the profitability of the Agreements to the Advisers and (v) information obtained through the completion by the Advisers of a questionnaire distributed on behalf of the Trustees. The Board, including the Independent Trustees, also considers other matters such as (i) each Fund’s investment objective and strategies and the size, education and experience of each Adviser’s investment staff and its use of technology, external research and trading cost measurement tools, (ii) arrangements in respect of the distribution of the Funds’ shares and the related costs, (iii) the allocation of the Funds’ brokerage, if any, including, if applicable, allocations to brokers affiliated with the Adviser and the use of “soft” commission dollars to pay Fund expenses and to pay for research and other similar services, (iv) each Adviser’s policies and procedures relating to, among other things, compliance, trading and best execution, proxy voting, liquidity and valuation, (v) information about amounts invested by the Funds’ portfolio managers in the Funds or in similar accounts that they manage and (vi) the general economic outlook with particular emphasis on the mutual fund industry. Throughout the process, the Trustees are afforded the opportunity to ask questions of and request additional materials from the Advisers.

In addition to the materials requested by the Trustees in connection with their annual consideration of the continuation of the Agreements, the Trustees receive materials in advance of each regular quarterly meeting of the Board that provide detailed information about the Funds’ investment performance and the fees charged to the Funds for advisory and other services. This information generally includes, among other things, an internal performance rating for each Fund based on agreed-upon criteria, total return information for various periods, and third-party performance rankings for various periods comparing a Fund against similarly categorized funds. The portfolio management team for each Fund or other representatives of the Advisers make periodic presentations to the Contract Review Committee and/or the full Board, and Funds identified as presenting possible performance concerns may be subject to more frequent Board presentations and reviews. In addition, the Trustees are periodically provided with detailed statistical information about each Fund’s portfolio. The Trustees also receive periodic updates between meetings, both at the Board and at the Committee level.

The Board most recently approved the continuation of the Agreements for a one-year period at its meeting held in June 2021. In considering whether to approve the continuation of the Agreements, the Board, including the Independent Trustees, did not identify any single factor as determinative. Individual Trustees may have evaluated the information presented differently from one another, giving different weights to various factors. Matters considered by the Trustees, including the Independent Trustees, in connection with their approval of the Agreements included, but were not limited to, the factors listed below.

The nature, extent and quality of the services provided to the Funds under the Agreements. The Trustees considered the nature, extent and quality of the services provided by the Advisers and their affiliates to the Funds and the resources dedicated to the Funds by the Advisers and the Advisers’ affiliates. The Trustees also considered their experience with other funds advised or sub-advised by the Advisers as well as the affiliation between the Advisers and Natixis Investment Managers, LLC, whose affiliates provide investment advisory services to other funds in the Natixis family of funds. The Trustees further considered that, effective December 31, 2020, the Funds’ investment adviser terminated the sub-advisory agreements with Wilshire Associates Incorporated (“Wilshire”) and assumed responsibility for managing the Funds’ “glide paths” and providing investment allocation services.

The Trustees considered not only the advisory and sub-advisory services provided by the Advisers to the Funds, but also the benefits to the Funds from the monitoring and oversight services provided by Natixis Advisors, LLC (“Natixis Advisors”). They also considered the administrative and shareholder services provided by Natixis Advisors and its affiliates to the Funds. They also took into consideration increases in the services provided resulting from new regulatory requirements.

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After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the nature, extent and quality of services provided supported the renewal of the Agreements.

Investment performance of the Funds and the Advisers. As noted above, the Trustees received information about the performance of the Funds over various time periods, including information that compared the performance of the Funds to the performance of peer groups and categories of funds and the Funds’ performance benchmarks. In addition, the Trustees reviewed data prepared by an independent third party that analyzed the performance of the Funds using a variety of performance metrics, including metrics that measured the performance of the Funds on a risk adjusted basis.

The Board noted that, through December 31, 2020, each Fund’s one- and three-year performance, stated as percentile rankings within categories selected by the independent third-party data provider, was as follows (where the best performance would be in the first percentile of its category):


	One-Year			Three-Year
Natixis Sustainable Future 2015 Fund		5	%		1	%
Natixis Sustainable Future 2020 Fund		3	%		1	%
Natixis Sustainable Future 2025 Fund		19	%		3	%
Natixis Sustainable Future 2030 Fund		12	%		5	%
Natixis Sustainable Future 2035 Fund		32	%		7	%
Natixis Sustainable Future 2040 Fund		25	%		11	%
Natixis Sustainable Future 2045 Fund		30	%		7	%
Natixis Sustainable Future 2050 Fund		23	%		7	%
Natixis Sustainable Future 2055 Fund		34	%		12	%
Natixis Sustainable Future 2060 Fund		29	%		3	%

The Trustees also considered the Advisers’ performance and reputation generally, the performance of the fund family generally, and the historical responsiveness of the Advisers to Trustee concerns about performance and the willingness of the Advisers to take steps intended to improve performance.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the performance of the Funds and the Advisers and/or other relevant factors supported the renewal of the Agreements.

The costs of the services to be provided and profits to be realized by the Advisers and their affiliates from their respective relationships with each Fund. The Trustees considered the fees charged to the Funds for advisory, sub-advisory and administrative services, as well as the total expense levels of the Funds. This information included comparisons (provided both by management and also by an independent third-party) of the Funds’ advisory and sub-advisory fees and total expense levels to those of their peer groups and information about the advisory fees charged by the Advisers to comparable accounts (such as institutional separate accounts), as well as information about differences in such fees and the reasons for any such differences. In considering the fees charged to comparable accounts, the Trustees considered, among other things, management’s representations about the differences between managing mutual funds as compared to other types of accounts, including the additional resources required to effectively manage mutual fund assets, the greater regulatory costs associated with the management of such assets, and the entrepreneurial, regulatory and other risks associated with sponsoring and managing mutual funds. In evaluating each Fund’s advisory and sub-advisory fees, the Trustees also took into account the demands, complexity, and quality of the investment management of each Fund and the need for the Advisers to offer competitive compensation and the potential need to expend additional resources to the extent the Funds grow in size. The Trustees considered that over the past several years, management had demonstrated its intention to have competitive fee levels by making recommendations regarding reductions in advisory fee rates, implementation of advisory fee breakpoints and the institution of advisory fee waivers and expense limitations for various funds in the fund family. They noted that each Fund has an expense limitation in place, and they considered the amounts waived or reimbursed by Natixis Advisors for each Fund under their respective expense limitation agreements.

The Trustees noted that each Fund had an advisory fee rate that was above the median of a peer group of funds. In this regard, the Trustees considered that the advisory fee structure and underlying constituents of each Fund is unique in that the advisory fee paid by each Fund varies based on its asset size and its allocations to the sub-advisers. They also noted that each Fund’s portfolio consists of underlying investments in both affiliated funds and separately managed segments. The Trustees considered that a comparison to the peer group is challenging as the majority of target-date peers utilize an affiliated fund-of-funds structure, charging little to no advisory fee at the target-date fund level. The Trustees considered that the Funds’ sub-advisory fees with respect to the Loomis Sayles Core Fixed Income segment were reduced effective October 30, 2020 and that the Funds’ sub-advisory agreements with Wilshire were terminated effective December 31, 2020. The Trustees noted that these changes reduced the Funds’ advisory fees, but these reductions were not fully reflected in the comparative data.

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The Trustees also considered the compensation directly or indirectly received by the Advisers and their affiliates from their relationships with the Funds. The Trustees reviewed information provided by management as to the profitability of the Advisers’ and their affiliates’ relationships with the Funds, and information about how expenses are determined and allocated for purposes of profitability calculations. They also reviewed information provided by management about the effect of distribution costs and changes in asset levels on Adviser profitability, including information regarding resources spent on distribution activities. When reviewing profitability, the Trustees also considered information about court cases in which adviser compensation or profitability were issues, the performance of the Funds, the expense levels of the Funds, whether the Advisers had implemented breakpoints and/or expense limitations with respect to such Funds and the overall profit margin of Natixis Investment Managers, LLC compared to that of certain other investment managers for which such data was available.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the advisory and sub-advisory fees and expenses charged to each Fund were fair and reasonable, and that the costs of these services generally and the related profitability of the Advisers and their affiliates in respect of their relationship with the Funds supported the renewal of the Agreements.

Economies of Scale. The Trustees considered the existence of any economies of scale in the provision of services by the Advisers and whether those economies are shared with the Funds through breakpoints in their investment advisory fees or other means, such as expense limitations. The Trustees also considered management’s explanation of the factors that are taken into account with respect to the implementation of breakpoints in investment advisory fees or expense limitations. With respect to economies of scale, the Trustees noted that each of the Funds was subject to an expense limitation. In considering these issues, the Trustees also took note of the costs of the services provided (both on an absolute and on a relative basis) and the profitability to the Advisers and their affiliates of their relationships with the Funds, as discussed above. They also considered that because of their relatively small size, the Funds did not have significant economies of scale.

After reviewing these and related factors, the Trustees concluded, within the context of their overall conclusions regarding each of the Agreements, that the extent to which economies of scale were shared with the Funds supported the renewal of the Agreements.

The Trustees also considered other factors, which included but were not limited to the following:

•

Whether each Fund has operated in accordance with its investment objective and the Fund’s record of compliance with its investment restrictions, and the compliance programs of the Funds and the Advisers. They also considered the compliance-related resources the Advisers and their affiliates were providing to the Funds.

•

So-called “fallout benefits” to the Advisers, such as the engagement of affiliates of the Advisers to provide distribution, administrative and brokerage services to the Funds, and the benefits of research made available to the Advisers by reason of brokerage commissions (if any) generated by the Funds’ securities transactions. The Trustees also considered the benefits to the parent company of Natixis Advisors from the retention of the Advisers. The Trustees considered the possible conflicts of interest associated with these fallout and other benefits, and the reporting, disclosure and other processes in place to disclose and monitor such possible conflicts of interest.

•

The Trustees’ review and discussion of the Funds’ advisory arrangements in prior years, and management’s record of responding to Trustee concerns raised during the year and in prior years.

•

The benefit to the Advisers and Natixis Advisors of being able to offer a suite of target date funds with environmental, social and governance-related investment strategies.

Based on their evaluation of all factors that they deemed to be material, including those factors described above, and assisted by the advice of independent counsel, the Trustees, including the Independent Trustees, concluded that each of the existing Agreements should be continued through June 30, 2022.

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LIQUIDITY RISK MANAGEMENT PROGRAM

Annual Report for the Period Commencing on January 1, 2020 and ending December 31, 2020 (including updates through July 31, 2021)

Effective December 1, 2018, the Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Rule”). The Rule requires registered open-end funds, including mutual funds and exchange-traded funds to establish liquidity risk management programs in order to effectively manage fund liquidity and mitigate the risk that a fund could not meet redemption requests without significantly diluting the interests of remaining investors.

The rule requires the Funds to assess, manage and review their liquidity risk considering applicable factors during normal and foreseeable stressed conditions. In fulfilling this requirement, each Fund assesses and reviews (where applicable and amongst other matters) its investment strategy, portfolio holdings, possible investment concentrations, use of derivatives, short-term and long-term cash flow projections, use of cash and cash equivalents, as well as borrowing arrangements and other funding sources. Each Program has established a Program Administrator (“Administrator”) which is the adviser or sub-adviser of the Fund.

In accordance with the Program, the Funds’ portfolio investments are classified into one of four liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.

Each Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. If a Fund does not hold a majority of highly liquid investments in its portfolio, then the Fund is required to establish a highly liquid investment minimum (“HLIM”). None of the Funds has established an HLIM.

During the period from January 1, 2020 to December 31, 2020, there were no material changes to the Programs and no material events that impacted the operation of the Funds’ Programs. During the period, the Funds held sufficient liquid assets to meet redemptions on a timely basis and did not have any illiquid security violations.

During the period January 1, 2021 through July 31, 2021, the Funds held sufficient liquid assets to meet redemptions on a timely basis and did not have any illiquid security violations.

Annual Program Assessment and Conclusion

In the opinion of the Program Administrators, the Program of each Fund approved by the Funds’ Board is operating effectively. The Program Administrators have also monitored, assessed and managed each Fund’s liquidity risk regularly throughout the period.

Pursuant to the Rule’s requirements, the Board has received and reviewed a written report prepared by each Fund’s Program Administrator that addressed the operation of the Programs, assessed their adequacy and effectiveness and described any material changes made to the Programs.

| 12

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund


Shares		Description	Value (†)
	Common Stocks — 28.6% of Net Assets
		Aerospace & Defense — 0.5%
	7	Axon Enterprise, Inc.(a)	$	1,302
	51	Boeing Co. (The)(a)		11,550
	21	General Dynamics Corp.		4,117
	1	L3Harris Technologies, Inc.		227
	11	Moog, Inc., Class A		856
	27	Raytheon Technologies Corp.		2,348

				20,400

		Air Freight & Logistics — 0.2%
	46	Expeditors International of Washington, Inc.		5,899
	13	United Parcel Service, Inc., Class B		2,488

				8,387

		Airlines — 0.1%
	5	Alaska Air Group, Inc.(a)		290
	29	Delta Air Lines, Inc.(a)		1,157
	122	JetBlue Airways Corp.(a)		1,805

				3,252

		Auto Components — 0.1%
	3	Aptiv PLC(a)		501
	6	BorgWarner, Inc.		294
	82	Dana, Inc.		1,981
	10	Visteon Corp.(a)		1,140

				3,916

		Automobiles — 0.2%
	128	General Motors Co.(a)		7,275
	11	Thor Industries, Inc.		1,302

				8,577

		Banks — 1.4%
	58	Ameris Bancorp		2,819
	52	Bancorp, Inc. (The)(a)		1,215
	57	BancorpSouth Bank		1,471
	230	Bank of America Corp.		8,823
	129	Citigroup, Inc.		8,723
	49	Citizens Financial Group, Inc.		2,066
	3	Comerica, Inc.		206
	27	Cullen/Frost Bankers, Inc.		2,898
	20	Fifth Third Bancorp		726
	100	Fulton Financial Corp.		1,532
	32	Huntington Bancshares, Inc.		451
	50	International Bancshares Corp.		1,954
	70	KeyCorp		1,376
	4	M&T Bank Corp.		535
	78	People’s United Financial, Inc.		1,225
	27	PNC Financial Services Group, Inc. (The)		4,925
	82	Regions Financial Corp.		1,578
	88	Truist Financial Corp.		4,790
	78	Trustmark Corp.		2,341
	41	U.S. Bancorp		2,277
	46	Webster Financial Corp.		2,213
	131	Wells Fargo & Co.		6,018
	20	Wintrust Financial Corp.		1,428

				61,590

		Beverages — 0.8%
	65	Coca-Cola Co. (The)		3,707
	28	Constellation Brands, Inc., Class A		6,282
	272	Keurig Dr Pepper, Inc.		9,577
	132	Monster Beverage Corp.(a)		12,450
	23	PepsiCo, Inc.		3,610

				35,626

		Biotechnology — 0.9%
	16	AbbVie, Inc.		1,861
	42	Alnylam Pharmaceuticals, Inc.(a)		7,515
	15	Amgen, Inc.		3,623
	4	Biogen, Inc.(a)		1,307
	36	BioMarin Pharmaceutical, Inc.(a)		2,762
	39	CRISPR Therapeutics AG(a)		4,720
	11	Gilead Sciences, Inc.		751
	7	Ligand Pharmaceuticals, Inc.(a)		795
	28	Regeneron Pharmaceuticals, Inc.(a)		16,089

				39,423

		Building Products — 0.2%
	7	Carlisle Cos., Inc.		1,416
	12	Carrier Global Corp.		663
	11	Johnson Controls International PLC		786
	7	Lennox International, Inc.		2,306
	24	Owens Corning		2,308
	16	Trex Co., Inc.(a)		1,553

				9,032

		Capital Markets — 2.0%
	3	Ameriprise Financial, Inc.		773
	218	Bank of New York Mellon Corp. (The)		11,190
	3	BlackRock, Inc.		2,602
	132	Charles Schwab Corp. (The)		8,969
	5	CME Group, Inc.		1,061
	18	FactSet Research Systems, Inc.		6,431
	22	Franklin Resources, Inc.		650
	21	Goldman Sachs Group, Inc. (The)		7,872
	35	Intercontinental Exchange, Inc.		4,194
	13	Invesco Ltd.		317
	40	Janus Henderson Group PLC		1,674
	62	KKR & Co., Inc.		3,953
	9	Moody’s Corp.		3,384
	9	Morgan Stanley		864
	9	MSCI, Inc.		5,364
	43	Northern Trust Corp.		4,853
	13	S&P Global, Inc.		5,573
	73	SEI Investments Co.		4,438
	139	State Street Corp.		12,112
	2	T. Rowe Price Group, Inc.		408
	9	Virtus Investment Partners, Inc.		2,485

				89,167

		Chemicals — 0.3%
	3	Air Products & Chemicals, Inc.		873
	9	DuPont de Nemours, Inc.		675
	3	Ecolab, Inc.		662
	21	HB Fuller Co.		1,357
	15	Innospec, Inc.		1,327
	16	Linde PLC		4,918
	18	Minerals Technologies, Inc.		1,444
	3	PPG Industries, Inc.		491
	3	Sherwin-Williams Co. (The)		873
	10	Stepan Co.		1,180

				13,800

		Commercial Services & Supplies — 0.1%
	18	Healthcare Services Group, Inc.		470
	10	MSA Safety, Inc.		1,645
	3	Republic Services, Inc.		355
	16	Tetra Tech, Inc.		2,136
	23	Viad Corp.(a)		1,054
	6	Waste Management, Inc.		890

				6,550

See accompanying notes to financial statements.

13 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.3%
	11	Arista Networks, Inc.(a)	$	4,184
	27	Ciena Corp.(a)		1,570
	146	Cisco Systems, Inc.		8,084
	3	F5 Networks, Inc.(a)		619
	15	Lumentum Holdings, Inc.(a)		1,260

				15,717

		Construction & Engineering — 0.1%
	48	AECOM(a)		3,022

		Consumer Finance — 0.8%
	238	Ally Financial, Inc.		12,224
	54	American Express Co.		9,209
	78	Capital One Financial Corp.		12,612
	15	Green Dot Corp., Class A(a)		691
	12	PROG Holdings, Inc.		525

				35,261

		Containers & Packaging — 0.1%
	21	Ball Corp.		1,699
	16	International Paper Co.		924

				2,623

		Distributors — 0.0%
	13	Genuine Parts Co.		1,650

		Diversified Telecommunication Services — 0.1%
	68	AT&T, Inc.		1,908
	354	Lumen Technologies, Inc.		4,414

				6,322

		Electric Utilities — 0.3%
	40	American Electric Power Co., Inc.		3,525
	64	Edison International		3,488
	11	Eversource Energy		949
	15	IDACORP, Inc.		1,582
	60	NextEra Energy, Inc.		4,674
	17	PPL Corp.		482

				14,700

		Electrical Equipment — 0.2%
	5	Acuity Brands, Inc.		877
	15	Eaton Corp. PLC		2,371
	9	Hubbell, Inc.		1,804
	87	Plug Power, Inc.(a)		2,373
	9	Rockwell Automation, Inc.		2,767
	16	Sunrun, Inc.(a)		847

				11,039

		Electronic Equipment, Instruments & Components — 0.4%
	8	Amphenol Corp., Class A		580
	28	Avnet, Inc.		1,157
	27	Cognex Corp.		2,441
	6	Coherent, Inc.(a)		1,476
	15	Corning, Inc.		628
	39	Itron, Inc.(a)		3,846
	5	Littelfuse, Inc.		1,330
	5	Rogers Corp.(a)		953
	38	TE Connectivity Ltd.		5,604
	51	Vishay Intertechnology, Inc.		1,128

				19,143

		Energy Equipment & Services — 0.2%
	217	Archrock, Inc.		1,868
	36	Baker Hughes Co.		765
	63	ChampionX Corp.(a)		1,464
	35	NOV, Inc.(a)		483
	180	Schlumberger NV		5,190

				9,770

		Entertainment — 0.6%
	12	Activision Blizzard, Inc.		1,004
	29	Cinemark Holdings, Inc.(a)		450
	22	Electronic Arts, Inc.		3,167
	14	Netflix, Inc.(a)		7,246
	83	Walt Disney Co. (The)(a)		14,610

				26,477

		Food & Staples Retailing — 0.1%
	22	BJ’s Wholesale Club Holdings, Inc.(a)		1,114
	1	Costco Wholesale Corp.		430
	24	Kroger Co. (The)		977
	69	SpartanNash Co.		1,342
	5	Sysco Corp.		371
	21	Walgreens Boots Alliance, Inc.		990

				5,224

		Food Products — 0.2%
	24	Campbell Soup Co.		1,049
	8	Conagra Brands, Inc.		268
	27	Darling Ingredients, Inc.(a)		1,865
	18	General Mills, Inc.		1,060
	29	Hain Celestial Group, Inc. (The)(a)		1,157
	24	Hormel Foods Corp.		1,113
	15	Ingredion, Inc.		1,317
	4	J.M. Smucker Co. (The)		524
	11	Kellogg Co.		697
	4	McCormick & Co., Inc.		337

				9,387

		Gas Utilities — 0.1%
	28	New Jersey Resources Corp.		1,079
	16	ONE Gas, Inc.		1,180
	31	South Jersey Industries, Inc.		780
	36	UGI Corp.		1,656

				4,695

		Health Care Equipment & Supplies — 0.6%
	17	Abbott Laboratories		2,057
	3	Baxter International, Inc.		232
	2	Becton Dickinson & Co.		512
	17	Boston Scientific Corp.(a)		775
	2	Cooper Cos., Inc. (The)		844
	6	Danaher Corp.		1,785
	6	DENTSPLY SIRONA, Inc.		396
	18	Edwards Lifesciences Corp.(a)		2,021
	15	Globus Medical, Inc., Class A(a)		1,248
	8	Haemonetics Corp.(a)		486
	15	Hill-Rom Holdings, Inc.		2,077
	8	Hologic, Inc.(a)		600
	4	Intuitive Surgical, Inc.(a)		3,966
	14	Medtronic PLC		1,838
	35	Meridian Bioscience, Inc.(a)		717
	11	Merit Medical Systems, Inc.(a)		771
	7	Penumbra, Inc.(a)		1,864
	5	Quidel Corp.(a)		707
	7	STAAR Surgical Co.(a)		895
	2	STERIS PLC		436
	4	Stryker Corp.		1,084

				25,311

		Health Care Providers & Services — 1.1%
	5	Amedisys, Inc.(a)		1,303
	7	Anthem, Inc.		2,688
	47	Centene Corp.(a)		3,225
	4	Chemed Corp.		1,904
	10	Cigna Corp.		2,295

See accompanying notes to financial statements.

| 14

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	57	CVS Health Corp.	$	4,694
	13	Encompass Health Corp.		1,082
	47	HCA Healthcare, Inc.		11,665
	9	Henry Schein, Inc.(a)		721
	19	Humana, Inc.		8,091
	7	Laboratory Corp. of America Holdings(a)		2,073
	59	MEDNAX, Inc.(a)		1,718
	29	Patterson Cos., Inc.		903
	12	Quest Diagnostics, Inc.		1,702
	39	Select Medical Holdings Corp.		1,539
	8	UnitedHealth Group, Inc.		3,298

				48,901

		Health Care Technology — 0.1%
	92	Allscripts Healthcare Solutions, Inc.(a)		1,571
	45	Cerner Corp.		3,618

				5,189

		Hotels, Restaurants & Leisure — 0.9%
	3	Booking Holdings, Inc.(a)		6,535
	1	Chipotle Mexican Grill, Inc.(a)		1,863
	3	Expedia Group, Inc.(a)		483
	48	Hilton Worldwide Holdings, Inc.(a)		6,310
	17	Jack in the Box, Inc.		1,851
	6	McDonald’s Corp.		1,456
	7	Royal Caribbean Cruises Ltd.(a)		538
	19	Shake Shack, Inc., Class A(a)		1,910
	28	Six Flags Entertainment Corp.(a)		1,163
	69	Starbucks Corp.		8,379
	54	Wendy’s Co. (The)		1,253
	74	Yum China Holdings, Inc.		4,602
	22	Yum! Brands, Inc.		2,891

				39,234

		Household Durables — 0.2%
	45	KB Home		1,910
	32	Meritage Homes Corp.(a)		3,474
	61	Taylor Morrison Home Corp.(a)		1,636

				7,020

		Household Products — 0.3%
	2	Clorox Co. (The)		362
	70	Colgate-Palmolive Co.		5,565
	39	Kimberly-Clark Corp.		5,293

				11,220

		Independent Power & Renewable Electricity Producers — 0.2%
	34	AES Corp. (The)		806
	52	NextEra Energy Partners LP		4,032
	23	Ormat Technologies, Inc.		1,604
	34	Sunnova Energy International, Inc.(a)		1,295

				7,737

		Industrial Conglomerates — 0.1%
	448	General Electric Co.		5,802
	2	Honeywell International, Inc.		467

				6,269

		Insurance — 0.8%
	11	Aflac, Inc.		605
	13	Allstate Corp. (The)		1,691
	135	American International Group, Inc.		6,392
	23	Chubb Ltd.		3,881
	25	First American Financial Corp.		1,683
	9	Hanover Insurance Group, Inc. (The)		1,223
	44	Hartford Financial Services Group, Inc. (The)		2,799
	5	Lincoln National Corp.		308
		Insurance — continued
	15	Marsh & McLennan Cos., Inc.		2,208
	90	MetLife, Inc.		5,193
	21	Prudential Financial, Inc.		2,106
	66	Reinsurance Group of America, Inc.		7,272
	10	Travelers Cos., Inc. (The)		1,489

				36,850

		Interactive Media & Services — 1.6%
	8	Alphabet, Inc., Class A(a)		21,556
	9	Alphabet, Inc., Class C(a)		24,340
	81	Facebook, Inc., Class A(a)		28,860

				74,756

		Internet & Direct Marketing Retail — 1.0%
	61	Alibaba Group Holding Ltd., Sponsored ADR(a)		11,907
	6	Amazon.com, Inc.(a)		19,965
	174	eBay, Inc.		11,869
	3	Etsy, Inc.(a)		550
	188	Qurate Retail, Inc., Class A		2,230

				46,521

		IT Services — 1.7%
	17	Accenture PLC, Class A		5,401
	35	Akamai Technologies, Inc.(a)		4,197
	43	Automatic Data Processing, Inc.		9,014
	17	Cognizant Technology Solutions Corp., Class A		1,250
	177	DXC Technology Co.(a)		7,076
	59	Fiserv, Inc.(a)		6,792
	31	Gartner, Inc.(a)		8,207
	26	MasterCard, Inc., Class A		10,034
	9	Paychex, Inc.		1,024
	4	VeriSign, Inc.(a)		866
	80	Visa, Inc., Class A		19,711
	7	WEX, Inc.(a)		1,328

				74,900

		Leisure Products — 0.0%
	35	Callaway Golf Co.(a)		1,109

		Life Sciences Tools & Services — 0.4%
	7	Agilent Technologies, Inc.		1,073
	6	Bio-Techne Corp.		2,893
	17	Illumina, Inc.(a)		8,428
	31	NeoGenomics, Inc.(a)		1,429
	13	Repligen Corp.(a)		3,194
	3	Thermo Fisher Scientific, Inc.		1,620
	2	Waters Corp.(a)		780

				19,417

		Machinery — 0.8%
	18	AGCO Corp.		2,378
	22	Caterpillar, Inc.		4,548
	10	Chart Industries, Inc.(a)		1,555
	18	Cummins, Inc.		4,178
	33	Deere & Co.		11,932
	4	Illinois Tool Works, Inc.		907
	25	ITT, Inc.		2,448
	30	Kennametal, Inc.		1,088
	20	Oshkosh Corp.		2,391
	5	Parker-Hannifin Corp.		1,560
	5	Proto Labs, Inc.(a)		391
	25	Terex Corp.		1,198
	22	Toro Co. (The)		2,502

				37,076

See accompanying notes to financial statements.

15 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Media — 0.7%
	2	Cable One, Inc.	$	3,776
	12	Charter Communications, Inc., Class A(a)		8,929
	223	Comcast Corp., Class A		13,119
	38	Discovery, Inc., Series A(a)		1,102
	9	Discovery, Inc., Series C(a)		244
	25	Fox Corp., Class A		892
	19	Interpublic Group of Cos., Inc. (The)		672
	27	New York Times Co. (The), Class A		1,182
	23	News Corp., Class A		566
	29	Omnicom Group, Inc.		2,112

				32,594

		Metals & Mining — 0.2%
	81	Cleveland-Cliffs, Inc.(a)		2,025
	43	Commercial Metals Co.		1,410
	4	Nucor Corp.		416
	18	Reliance Steel & Aluminum Co.		2,829
	12	Royal Gold, Inc.		1,458

				8,138

		Multi-Utilities — 0.1%
	25	Consolidated Edison, Inc.		1,844
	10	DTE Energy Co.		1,173
	11	Sempra Energy		1,437
	6	WEC Energy Group, Inc.		565

				5,019

		Multiline Retail — 0.1%
	117	Macy’s, Inc.(a)		1,989
	13	Target Corp.		3,394

				5,383

		Oil, Gas & Consumable Fuels — 0.7%
	267	APA Corp.		5,006
	90	ConocoPhillips		5,045
	33	Devon Energy Corp.		853
	49	Diamondback Energy, Inc.		3,779
	5	DTE Midstream LLC(a)		212
	114	EOG Resources, Inc.		8,306
	44	EQT Corp.(a)		809
	59	Kinder Morgan, Inc.		1,026
	103	Marathon Oil Corp.		1,194
	26	ONEOK, Inc.		1,351
	137	Southwestern Energy Co.(a)		645
	19	Valero Energy Corp.		1,273
	23	World Fuel Services Corp.		793

				30,292

		Paper & Forest Products — 0.0%
	33	Louisiana-Pacific Corp.		1,830

		Personal Products — 0.0%
	1	Estee Lauder Cos., Inc. (The), Class A		334

		Pharmaceuticals — 0.7%
	22	Bristol-Myers Squibb Co.		1,493
	10	Eli Lilly & Co.		2,435
	10	Jazz Pharmaceuticals PLC(a)		1,695
	71	Merck & Co., Inc.		5,458
	82	Novartis AG, Sponsored ADR		7,576
	29	Novo Nordisk A/S, Sponsored ADR		2,685
	7	Organon & Co.(a)		203
	14	Perrigo Co. PLC		673
	53	Pfizer, Inc.		2,269
	143	Roche Holding AG, Sponsored ADR		6,901
	3	Zoetis, Inc.		608

				31,996

		Professional Services — 0.1%
	20	Exponent, Inc.		2,142
	3	IHS Markit Ltd.		350
	8	Insperity, Inc.		792
	19	Korn Ferry		1,306
	12	ManpowerGroup, Inc.		1,423
	11	Nielsen Holdings PLC		261

				6,274

		Real Estate Management & Development — 0.1%
	37	CBRE Group, Inc., Class A(a)		3,569
	9	Jones Lang LaSalle, Inc.(a)		2,003

				5,572

		REITs – Apartments — 0.1%
	36	American Campus Communities, Inc.		1,811
	24	Camden Property Trust		3,586
	10	Equity Residential		841

				6,238

		REITs – Diversified — 0.1%
	13	American Tower Corp.		3,676
	3	Crown Castle International Corp.		579
	17	CyrusOne, Inc.		1,212
	20	Weyerhaeuser Co.		675

				6,142

		REITs – Health Care — 0.0%
	10	Ventas, Inc.		598
	6	Welltower, Inc.		521

				1,119

		REITs – Hotels — 0.0%
	43	Host Hotels & Resorts, Inc.(a)		685

		REITs – Mortgage — 0.1%
	59	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		3,351

		REITs – Office Property — 0.2%
	2	Boston Properties, Inc.		235
	56	Corporate Office Properties Trust		1,649
	63	Douglas Emmett, Inc.		2,104
	84	Easterly Government Properties, Inc.		1,907
	28	Kilroy Realty Corp.		1,939

				7,834

		REITs – Shopping Centers — 0.1%
	142	Brixmor Property Group, Inc.		3,269

		REITs – Storage — 0.0%
	8	Iron Mountain, Inc.		350

		REITs – Warehouse/Industrials — 0.1%
	24	ProLogis, Inc.		3,073

		Road & Rail — 0.1%
	27	CSX Corp.		873
	11	Norfolk Southern Corp.		2,836
	15	Ryder System, Inc.		1,142
	8	Union Pacific Corp.		1,750

				6,601

		Semiconductors & Semiconductor Equipment — 1.5%
	16	Advanced Micro Devices, Inc.(a)		1,699
	7	Analog Devices, Inc.		1,172
	11	Applied Materials, Inc.		1,539
	21	Cirrus Logic, Inc.(a)		1,734
	39	Cree, Inc.(a)		3,618
	14	Enphase Energy, Inc.(a)		2,654
	50	First Solar, Inc.(a)		4,302

See accompanying notes to financial statements.

| 16

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	28	Ichor Holdings Ltd.(a)	$	1,444
	58	Intel Corp.		3,116
	2	Lam Research Corp.		1,275
	9	Micron Technology, Inc.(a)		698
	144	NVIDIA Corp.		28,079
	2	NXP Semiconductors NV		413
	57	QUALCOMM, Inc.		8,539
	15	Silicon Laboratories, Inc.(a)		2,235
	21	Texas Instruments, Inc.		4,003
	8	Universal Display Corp.		1,876
	3	Xilinx, Inc.		449

				68,845

		Software — 2.1%
	10	Adobe, Inc.(a)		6,216
	10	ANSYS, Inc.(a)		3,685
	47	Autodesk, Inc.(a)		15,093
	12	Blackbaud, Inc.(a)		856
	16	Bottomline Technologies, Inc.(a)		646
	4	Citrix Systems, Inc.		403
	24	CommVault Systems, Inc.(a)		1,814
	6	Fair Isaac Corp.(a)		3,143
	63	Microsoft Corp.		17,949
	15	NortonLifeLock, Inc.		372
	191	Oracle Corp.		16,644
	10	Paylocity Holding Corp.(a)		2,075
	11	Qualys, Inc.(a)		1,117
	44	salesforce.com, Inc.(a)		10,645
	17	SPS Commerce, Inc.(a)		1,852
	49	Workday, Inc., Class A(a)		11,486

				93,996

		Specialty Retail — 0.6%
	37	American Eagle Outfitters, Inc.		1,275
	13	Asbury Automotive Group, Inc.(a)		2,671
	1	AutoZone, Inc.(a)		1,624
	11	Best Buy Co., Inc.		1,236
	16	Boot Barn Holdings, Inc.(a)		1,383
	6	Five Below, Inc.(a)		1,166
	4	GameStop Corp., Class A(a)		644
	22	Gap, Inc. (The)		642
	22	Home Depot, Inc. (The)		7,220
	8	Lithia Motors, Inc.		3,018
	4	Lowe’s Cos., Inc.		771
	10	Monro, Inc.		580
	5	TJX Cos., Inc. (The)		344
	2	Ulta Beauty, Inc.(a)		672
	13	Williams-Sonoma, Inc.		1,972

				25,218

		Technology Hardware, Storage & Peripherals — 0.3%
	354	Hewlett Packard Enterprise Co.		5,133
	220	HP, Inc.		6,352
	35	NCR Corp.(a)		1,554
	7	Seagate Technology Holdings PLC		615

				13,654

		Textiles, Apparel & Luxury Goods — 0.3%
	8	Deckers Outdoor Corp.(a)		3,287
	254	Under Armour, Inc., Class A(a)		5,194
	25	VF Corp.		2,005
	30	Wolverine World Wide, Inc.		1,006

				11,492

		Thrifts & Mortgage Finance — 0.0%
	46	Mr. Cooper Group, Inc.(a)		1,710

		Trading Companies & Distributors — 0.0%
	10	GATX Corp.		922

		Water Utilities — 0.1%
	13	American Water Works Co., Inc.		2,211
	87	Essential Utilities, Inc.		4,274

				6,485

		Wireless Telecommunication Services — 0.1%
	23	Shenandoah Telecommunications Co.		1,214
	22	T-Mobile US, Inc.(a)		3,169

				4,383

		Total Common Stocks (Identified Cost $1,022,726)		1,299,059


Principal Amount
	Bonds and Notes — 20.7%
		Automotive — 0.4%
$	9,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		10,194
	2,000	Lear Corp., 4.250%, 5/15/2029		2,303
	6,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		6,064

				18,561

		Banking — 3.4%
	9,000	American Express Co., 3.700%, 8/03/2023		9,572
	9,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		9,114
	8,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		8,009
	8,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		8,619
	5,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		5,353
	9,000	Citigroup, Inc., 4.600%, 3/09/2026		10,309
	5,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		5,095
	9,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		9,859
	9,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		9,551
	10,000	KeyCorp, MTN, 2.550%, 10/01/2029		10,607
	4,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		4,421
	5,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		5,875
	9,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		9,655
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		4,224
	5,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		5,352
	6,000	State Street Corp., 2.400%, 1/24/2030		6,372
	10,000	Truist Bank, 3.200%, 4/01/2024		10,697
	10,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		10,719
	10,000	Westpac Banking Corp., 2.350%, 2/19/2025		10,553

				153,956

		Brokerage — 0.4%
	9,000	BlackRock, Inc., 2.400%, 4/30/2030		9,579
	10,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		10,119

				19,698

		Chemicals — 0.1%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		2,649

		Construction Machinery — 0.4%
	11,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		11,077
	6,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		6,061

				17,138

		Consumer Cyclical Services — 0.2%
	9,000	eBay, Inc., 3.800%, 3/09/2022		9,158

See accompanying notes to financial statements.

17 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — 1.1%
$	9,000	Duke Energy Corp., 3.750%, 4/15/2024	$	9,691
	11,000	Entergy Corp., 0.900%, 9/15/2025		10,940
	4,000	Exelon Corp., 4.050%, 4/15/2030		4,623
	11,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		11,300
	3,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		3,202
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		2,191
	9,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		9,872

				51,819

		Finance Companies — 0.1%
	6,000	Ares Capital Corp., 3.250%, 7/15/2025		6,361

		Financial Other — 0.2%
	8,000	ORIX Corp., 2.900%, 7/18/2022		8,199

		Food & Beverage — 0.7%
	10,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		10,212
	9,000	General Mills, Inc., 4.000%, 4/17/2025		9,976
	9,000	Mondelez International, Inc., 2.750%, 4/13/2030		9,604

				29,792

		Government Owned – No Guarantee — 0.4%
	13,000	Federal National Mortgage Association, 6.625%, 11/15/2030		19,012

		Health Insurance — 0.4%
	8,000	Anthem, Inc., 4.101%, 3/01/2028		9,220
	6,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		8,590

				17,810

		Healthcare — 0.4%
	2,000	Cigna Corp., 3.750%, 7/15/2023		2,124
	4,000	CVS Health Corp., 4.300%, 3/25/2028		4,631
	6,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		6,276
	5,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		5,374

				18,405

		Independent Energy — 0.2%
	8,000	EQT Corp., 3.000%, 10/01/2022		8,110

		Integrated Energy — 0.6%
	9,000	BP Capital Markets PLC, 3.814%, 2/10/2024		9,718
	9,000	Exxon Mobil Corp., 2.992%, 3/19/2025		9,663
	6,000	Shell International Finance BV, 6.375%, 12/15/2038		8,946

				28,327

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567
	3,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		3,314

				5,881

		Media Entertainment — 0.1%
	5,000	ViacomCBS, Inc., 4.750%, 5/15/2025		5,666

		Midstream — 0.2%
	9,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		9,697

		Mortgage Related — 3.7%
	50,941	FNMA, 2.000%, with various maturities in 2051(b)		51,982
	47,086	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		49,083
	40,366	FNMA, 3.000%, with various maturities from 2034 to 2050(b)		42,369
	15,226	FNMA, 3.500%, with various maturities in 2049(b)		16,107
	3,693	FNMA, 4.000%, 3/01/2050		3,942
	4,160	FNMA, 4.500%, with various maturities in 2049(b)		4,487

				167,970

		Natural Gas — 0.3%
	11,000	NiSource, Inc., 0.950%, 8/15/2025		10,940

		Pharmaceuticals — 0.8%
	9,000	AbbVie, Inc., 3.600%, 5/14/2025		9,833
	9,000	Amgen, Inc., 2.650%, 5/11/2022		9,150
	4,000	Biogen, Inc., 2.250%, 5/01/2030		4,074
	10,000	Johnson & Johnson, 1.300%, 9/01/2030		9,864
	3,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		3,271

				36,192

		Property & Casualty Insurance — 0.3%
	9,000	American International Group, Inc., 3.400%, 6/30/2030		9,943
	3,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		3,279

				13,222

		Railroads — 0.2%
	8,000	CSX Corp., 2.600%, 11/01/2026		8,552

		REITs – Apartments — 0.1%
	5,000	Essex Portfolio LP, 3.000%, 1/15/2030		5,351

		REITs – Health Care — 0.1%
	5,000	Welltower, Inc., 2.800%, 6/01/2031		5,285

		REITs – Office Property — 0.1%
	5,000	Boston Properties LP, 2.750%, 10/01/2026		5,364

		REITs – Retail — 0.1%
	3,000	Spirit Realty LP, 2.700%, 2/15/2032		3,038
	3,000	VEREIT Operating Partnership LP, 3.400%, 1/15/2028		3,310

				6,348

		Restaurants — 0.2%
	8,000	Starbucks Corp., 2.250%, 3/12/2030		8,230

		Retailers — 0.1%
	5,000	Amazon.com, Inc., 3.875%, 8/22/2037		6,060

		Technology — 1.6%
	9,000	Apple, Inc., 2.500%, 2/09/2025		9,539
	6,000	Broadcom, Inc., 4.110%, 9/15/2028		6,771
	4,000	HP, Inc., 3.000%, 6/17/2027		4,318
	6,000	Intel Corp., 2.450%, 11/15/2029		6,324
	8,000	International Business Machines Corp., 4.000%, 6/20/2042		9,508
	6,000	NVIDIA Corp., 2.850%, 4/01/2030		6,561
	9,000	Oracle Corp., 2.950%, 5/15/2025		9,605
	10,000	QUALCOMM, Inc., 1.650%, 5/20/2032		9,755
	8,000	VMware, Inc., 2.950%, 8/21/2022		8,193

				70,574

		Treasuries — 3.1%
	9,000	U.S. Treasury Bond, 2.250%, 5/15/2041		9,668
	8,000	U.S. Treasury Bond, 2.500%, 5/15/2046		8,976
	15,000	U.S. Treasury Bond, 2.875%, 11/15/2046		18,015
	19,000	U.S. Treasury Bond, 3.000%, 5/15/2045		23,144
	11,000	U.S. Treasury Bond, 3.000%, 2/15/2048		13,570
	19,000	U.S. Treasury Bond, 3.000%, 2/15/2049		23,550
	34,000	U.S. Treasury Note, 0.375%, 11/30/2025		33,675
	9,000	U.S. Treasury Note, 2.125%, 12/31/2022		9,253

				139,851

		Utility Other — 0.1%
	4,000	Essential Utilities, Inc., 4.276%, 5/01/2049		4,910

		Wireless — 0.2%
	7,000	Vodafone Group PLC, 6.150%, 2/27/2037		9,795

		Wirelines — 0.3%
	3,000	AT&T, Inc., 3.650%, 6/01/2051		3,180
	3,000	AT&T, Inc., 5.250%, 3/01/2037		3,812

See accompanying notes to financial statements.

| 18

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Principal Amount		Description	Value (†)
		Wirelines — continued
$	8,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)	$	8,231

				15,223

		Total Bonds and Notes (Identified Cost $933,238)		944,106


Shares
	Exchange-Traded Funds — 3.9%
	2,233	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $147,566)		177,657


	Mutual Funds — 5.0%
	2,325	WCM Focused Emerging Markets Fund, Institutional Class		46,733
	6,450	WCM Focused International Growth Fund, Institutional Class		181,300

		Total Mutual Funds (Identified Cost $192,234)		228,033


	Affiliated Mutual Funds — 40.0%
	50,578	Loomis Sayles Inflation Protected Securities Fund, Class N		621,099
	46,434	Loomis Sayles Limited Term Government and Agency Fund, Class N		533,522
	45,455	Mirova Global Green Bond Fund, Class N		482,736
	12,111	Mirova International Sustainable Equity Fund, Class N		181,056

		Total Affiliated Mutual Funds (Identified Cost $1,750,160)		1,818,413


Principal Amount
	Short-Term Investments — 2.6%
$	120,324	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $120,324 on 8/02/2021 collateralized by $124,600 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $123,015 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $120,324)		120,324


		Total Investments — 100.8% (Identified Cost $4,166,248)		4,587,592
		Other assets less liabilities — (0.8)%		(37,929	)

		Net Assets — 100.0%	$	4,549,663


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $7,692 or 0.2% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Fixed Income	56.7	%
Equity	41.5
Short-Term Investments	2.6

Total Investments	100.8
Other assets less liabilities	(0.8	)

Net Assets	100.0	%

See accompanying notes to financial statements.

19 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund


Shares		Description	Value (†)
	Common Stocks — 34.3% of Net Assets
		Aerospace & Defense – 0.5%
	8	Axon Enterprise, Inc.(a)	$	1,488
	48	Boeing Co. (The)(a)		10,871
	18	General Dynamics Corp.		3,529
	1	L3Harris Technologies, Inc.		227
	12	Moog, Inc., Class A		934
	19	Raytheon Technologies Corp.		1,652

				18,701

		Air Freight & Logistics — 0.2%
	41	Expeditors International of Washington, Inc.		5,258
	10	United Parcel Service, Inc., Class B		1,914

				7,172

		Airlines — 0.1%
	2	Alaska Air Group, Inc.(a)		116
	23	Delta Air Lines, Inc.(a)		918
	113	JetBlue Airways Corp.(a)		1,671

				2,705

		Auto Components — 0.1%
	3	Aptiv PLC(a)		501
	5	BorgWarner, Inc.		245
	76	Dana, Inc.		1,836
	11	Visteon Corp.(a)		1,254

				3,836

		Automobiles — 0.2%
	118	General Motors Co.(a)		6,707
	10	Thor Industries, Inc.		1,184

				7,891

		Banks — 1.6%
	56	Ameris Bancorp		2,722
	51	Bancorp, Inc. (The)(a)		1,192
	53	BancorpSouth Bank		1,367
	213	Bank of America Corp.		8,171
	119	Citigroup, Inc.		8,047
	36	Citizens Financial Group, Inc.		1,518
	3	Comerica, Inc.		206
	25	Cullen/Frost Bankers, Inc.		2,683
	18	Fifth Third Bancorp		653
	91	Fulton Financial Corp.		1,394
	27	Huntington Bancshares, Inc.		380
	47	International Bancshares Corp.		1,837
	61	KeyCorp		1,199
	3	M&T Bank Corp.		402
	66	People’s United Financial, Inc.		1,036
	21	PNC Financial Services Group, Inc. (The)		3,831
	71	Regions Financial Corp.		1,367
	71	Truist Financial Corp.		3,864
	73	Trustmark Corp.		2,191
	36	U.S. Bancorp		1,999
	43	Webster Financial Corp.		2,068
	121	Wells Fargo & Co.		5,559
	19	Wintrust Financial Corp.		1,357

				55,043

		Beverages — 1.0%
	54	Coca-Cola Co. (The)		3,080
	26	Constellation Brands, Inc., Class A		5,833
	255	Keurig Dr Pepper, Inc.		8,978
	124	Monster Beverage Corp.(a)		11,696
	19	PepsiCo, Inc.		2,982

				32,569

		Biotechnology — 1.1%
	17	AbbVie, Inc.		1,977
	39	Alnylam Pharmaceuticals, Inc.(a)		6,978
	11	Amgen, Inc.		2,657
	4	Biogen, Inc.(a)		1,307
	34	BioMarin Pharmaceutical, Inc.(a)		2,609
	36	CRISPR Therapeutics AG(a)		4,357
	13	Gilead Sciences, Inc.		888
	7	Ligand Pharmaceuticals, Inc.(a)		794
	26	Regeneron Pharmaceuticals, Inc.(a)		14,940

				36,507

		Building Products — 0.3%
	7	Carlisle Cos., Inc.		1,416
	11	Carrier Global Corp.		608
	10	Johnson Controls International PLC		714
	7	Lennox International, Inc.		2,306
	22	Owens Corning		2,116
	14	Trex Co., Inc.(a)		1,359

				8,519

		Capital Markets — 2.4%
	3	Ameriprise Financial, Inc.		773
	194	Bank of New York Mellon Corp. (The)		9,958
	2	BlackRock, Inc.		1,734
	120	Charles Schwab Corp. (The)		8,154
	5	CME Group, Inc.		1,061
	16	FactSet Research Systems, Inc.		5,716
	20	Franklin Resources, Inc.		591
	19	Goldman Sachs Group, Inc. (The)		7,123
	30	Intercontinental Exchange, Inc.		3,595
	5	Invesco Ltd.		122
	41	Janus Henderson Group PLC		1,715
	57	KKR & Co., Inc.		3,634
	9	Moody’s Corp.		3,384
	7	Morgan Stanley		672
	9	MSCI, Inc.		5,364
	36	Northern Trust Corp.		4,063
	12	S&P Global, Inc.		5,145
	67	SEI Investments Co.		4,073
	128	State Street Corp.		11,154
	2	T. Rowe Price Group, Inc.		408
	9	Virtus Investment Partners, Inc.		2,485

				80,924

		Chemicals — 0.4%
	2	Air Products & Chemicals, Inc.		582
	8	DuPont de Nemours, Inc.		600
	4	Ecolab, Inc.		883
	22	HB Fuller Co.		1,422
	14	Innospec, Inc.		1,238
	12	Linde PLC		3,689
	17	Minerals Technologies, Inc.		1,364
	3	PPG Industries, Inc.		491
	3	Sherwin-Williams Co. (The)		873
	9	Stepan Co.		1,061

				12,203

		Commercial Services & Supplies — 0.2%
	20	Healthcare Services Group, Inc.		522
	10	MSA Safety, Inc.		1,645
	2	Republic Services, Inc.		237
	15	Tetra Tech, Inc.		2,003
	23	Viad Corp.(a)		1,054
	3	Waste Management, Inc.		445

				5,906

See accompanying notes to financial statements.

| 20

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.4%
	11	Arista Networks, Inc.(a)	$	4,184
	24	Ciena Corp.(a)		1,395
	134	Cisco Systems, Inc.		7,420
	2	F5 Networks, Inc.(a)		413
	13	Lumentum Holdings, Inc.(a)		1,092

				14,504

		Construction & Engineering — 0.1%
	47	AECOM(a)		2,959

		Consumer Finance — 0.9%
	220	Ally Financial, Inc.		11,299
	47	American Express Co.		8,015
	72	Capital One Financial Corp.		11,642
	14	Green Dot Corp., Class A(a)		645
	13	PROG Holdings, Inc.		569

				32,170

		Containers & Packaging — 0.1%
	16	Ball Corp.		1,294
	14	International Paper Co.		809

				2,103

		Distributors — 0.0%
	9	Genuine Parts Co.		1,142

		Diversified Telecommunication Services — 0.2%
	57	AT&T, Inc.		1,599
	322	Lumen Technologies, Inc.		4,015

				5,614

		Electric Utilities — 0.4%
	33	American Electric Power Co., Inc.		2,908
	58	Edison International		3,161
	9	Eversource Energy		776
	13	IDACORP, Inc.		1,371
	55	NextEra Energy, Inc.		4,285
	12	PPL Corp.		340

				12,841

		Electrical Equipment — 0.3%
	5	Acuity Brands, Inc.		877
	11	Eaton Corp. PLC		1,739
	9	Hubbell, Inc.		1,804
	44	Plug Power, Inc.(a)		1,200
	9	Rockwell Automation, Inc.		2,767
	17	Sunrun, Inc.(a)		900

				9,287

		Electronic Equipment, Instruments & Components — 0.5%
	6	Amphenol Corp., Class A		435
	25	Avnet, Inc.		1,033
	27	Cognex Corp.		2,441
	6	Coherent, Inc.(a)		1,476
	11	Corning, Inc.		461
	34	Itron, Inc.(a)		3,353
	5	Littelfuse, Inc.		1,330
	5	Rogers Corp.(a)		953
	35	TE Connectivity Ltd.		5,161
	46	Vishay Intertechnology, Inc.		1,018

				17,661

		Energy Equipment & Services — 0.3%
	201	Archrock, Inc.		1,731
	33	Baker Hughes Co.		701
	61	ChampionX Corp.(a)		1,418
	24	NOV, Inc.(a)		331
	175	Schlumberger NV		5,045

				9,226

		Entertainment — 0.7%
	10	Activision Blizzard, Inc.		836
	25	Cinemark Holdings, Inc.(a)		388
	19	Electronic Arts, Inc.		2,735
	13	Netflix, Inc.(a)		6,729
	73	Walt Disney Co. (The)(a)		12,850

				23,538

		Food & Staples Retailing — 0.1%
	23	BJ’s Wholesale Club Holdings, Inc.(a)		1,165
	21	Kroger Co. (The)		854
	62	SpartanNash Co.		1,206
	5	Sysco Corp.		371
	18	Walgreens Boots Alliance, Inc.		849

				4,445

		Food Products — 0.2%
	20	Campbell Soup Co.		874
	6	Conagra Brands, Inc.		201
	25	Darling Ingredients, Inc.(a)		1,727
	15	General Mills, Inc.		883
	26	Hain Celestial Group, Inc. (The)(a)		1,038
	20	Hormel Foods Corp.		928
	13	Ingredion, Inc.		1,142
	4	J.M. Smucker Co. (The)		524
	7	Kellogg Co.		443
	5	McCormick & Co., Inc.		421

				8,181

		Gas Utilities — 0.1%
	27	New Jersey Resources Corp.		1,040
	15	ONE Gas, Inc.		1,107
	34	South Jersey Industries, Inc.		856
	33	UGI Corp.		1,517

				4,520

		Health Care Equipment & Supplies — 0.6%
	15	Abbott Laboratories		1,815
	1	Baxter International, Inc.		77
	3	Becton Dickinson & Co.		767
	12	Boston Scientific Corp.(a)		547
	2	Cooper Cos., Inc. (The)		844
	6	Danaher Corp.		1,785
	4	DENTSPLY SIRONA, Inc.		264
	15	Edwards Lifesciences Corp.(a)		1,684
	14	Globus Medical, Inc., Class A(a)		1,164
	8	Haemonetics Corp.(a)		486
	13	Hill-Rom Holdings, Inc.		1,800
	7	Hologic, Inc.(a)		525
	3	Intuitive Surgical, Inc.(a)		2,974
	11	Medtronic PLC		1,445
	38	Meridian Bioscience, Inc.(a)		779
	12	Merit Medical Systems, Inc.(a)		841
	7	Penumbra, Inc.(a)		1,864
	4	Quidel Corp.(a)		566
	7	STAAR Surgical Co.(a)		896
	1	STERIS PLC		218
	3	Stryker Corp.		813

				22,154

		Health Care Providers & Services — 1.2%
	5	Amedisys, Inc.(a)		1,303
	5	Anthem, Inc.		1,920
	38	Centene Corp.(a)		2,607
	4	Chemed Corp.		1,904
	9	Cigna Corp.		2,065
	53	CVS Health Corp.		4,365

See accompanying notes to financial statements.

21 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	13	Encompass Health Corp.	$	1,082
	41	HCA Healthcare, Inc.		10,176
	9	Henry Schein, Inc.(a)		721
	16	Humana, Inc.		6,814
	5	Laboratory Corp. of America Holdings(a)		1,481
	54	MEDNAX, Inc.(a)		1,573
	27	Patterson Cos., Inc.		841
	8	Quest Diagnostics, Inc.		1,134
	38	Select Medical Holdings Corp.		1,499
	7	UnitedHealth Group, Inc.		2,886

				42,371

		Health Care Technology — 0.1%
	90	Allscripts Healthcare Solutions, Inc.(a)		1,537
	43	Cerner Corp.		3,457

				4,994

		Hotels, Restaurants & Leisure — 1.1%
	3	Booking Holdings, Inc.(a)		6,535
	1	Chipotle Mexican Grill, Inc.(a)		1,863
	3	Expedia Group, Inc.(a)		482
	44	Hilton Worldwide Holdings, Inc.(a)		5,784
	16	Jack in the Box, Inc.		1,742
	4	McDonald’s Corp.		971
	6	Royal Caribbean Cruises Ltd.(a)		461
	18	Shake Shack, Inc., Class A(a)		1,810
	27	Six Flags Entertainment Corp.(a)		1,122
	63	Starbucks Corp.		7,650
	58	Wendy’s Co. (The)		1,346
	69	Yum China Holdings, Inc.		4,291
	20	Yum! Brands, Inc.		2,628

				36,685

		Household Durables — 0.2%
	42	KB Home		1,782
	32	Meritage Homes Corp.(a)		3,475
	57	Taylor Morrison Home Corp.(a)		1,529

				6,786

		Household Products — 0.3%
	1	Clorox Co. (The)		181
	65	Colgate-Palmolive Co.		5,168
	34	Kimberly-Clark Corp.		4,614

				9,963

		Independent Power & Renewable Electricity Producers — 0.2%
	24	AES Corp. (The)		569
	48	NextEra Energy Partners LP		3,721
	20	Ormat Technologies, Inc.		1,395
	37	Sunnova Energy International, Inc.(a)		1,410

				7,095

		Industrial Conglomerates — 0.2%
	414	General Electric Co.		5,361
	2	Honeywell International, Inc.		468

				5,829

		Insurance — 0.9%
	8	Aflac, Inc.		440
	9	Allstate Corp. (The)		1,171
	125	American International Group, Inc.		5,919
	17	Chubb Ltd.		2,869
	24	First American Financial Corp.		1,615
	10	Hanover Insurance Group, Inc. (The)		1,359
	38	Hartford Financial Services Group, Inc. (The)		2,418
	4	Lincoln National Corp.		247
	13	Marsh & McLennan Cos., Inc.		1,914
		Insurance — continued
	82	MetLife, Inc.		4,731
	15	Prudential Financial, Inc.		1,504
	63	Reinsurance Group of America, Inc.		6,941
	7	Travelers Cos., Inc. (The)		1,042

				32,170

		Interactive Media & Services — 1.9%
	7	Alphabet, Inc., Class A(a)		18,861
	7	Alphabet, Inc., Class C(a)		18,931
	76	Facebook, Inc., Class A(a)		27,079

				64,871

		Internet & Direct Marketing Retail — 1.2%
	56	Alibaba Group Holding Ltd., Sponsored ADR(a)		10,930
	5	Amazon.com, Inc.(a)		16,638
	161	eBay, Inc.		10,982
	2	Etsy, Inc.(a)		367
	172	Qurate Retail, Inc., Class A		2,040

				40,957

		IT Services — 2.0%
	16	Accenture PLC, Class A		5,083
	31	Akamai Technologies, Inc.(a)		3,718
	37	Automatic Data Processing, Inc.		7,756
	12	Cognizant Technology Solutions Corp., Class A		882
	164	DXC Technology Co.(a)		6,557
	54	Fiserv, Inc.(a)		6,216
	29	Gartner, Inc.(a)		7,677
	23	MasterCard, Inc., Class A		8,877
	8	Paychex, Inc.		911
	3	VeriSign, Inc.(a)		649
	73	Visa, Inc., Class A		17,986
	7	WEX, Inc.(a)		1,328

				67,640

		Leisure Products — 0.0%
	36	Callaway Golf Co.(a)		1,140

		Life Sciences Tools & Services — 0.5%
	6	Agilent Technologies, Inc.		919
	6	Bio-Techne Corp.		2,894
	15	Illumina, Inc.(a)		7,436
	29	NeoGenomics, Inc.(a)		1,337
	13	Repligen Corp.(a)		3,194
	3	Thermo Fisher Scientific, Inc.		1,620
	2	Waters Corp.(a)		780

				18,180

		Machinery — 0.9%
	17	AGCO Corp.		2,246
	17	Caterpillar, Inc.		3,515
	10	Chart Industries, Inc.(a)		1,554
	16	Cummins, Inc.		3,714
	28	Deere & Co.		10,125
	3	Illinois Tool Works, Inc.		680
	23	ITT, Inc.		2,252
	29	Kennametal, Inc.		1,051
	18	Oshkosh Corp.		2,152
	4	Parker-Hannifin Corp.		1,248
	6	Proto Labs, Inc.(a)		469
	23	Terex Corp.		1,102
	20	Toro Co. (The)		2,275

				32,383

		Media — 0.9%
	2	Cable One, Inc.		3,776
	11	Charter Communications, Inc., Class A(a)		8,185

See accompanying notes to financial statements.

| 22

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	206	Comcast Corp., Class A	$	12,119
	33	Discovery, Inc., Series A(a)		957
	6	Discovery, Inc., Series C(a)		163
	23	Fox Corp., Class A		820
	18	Interpublic Group of Cos., Inc. (The)		636
	25	New York Times Co. (The), Class A		1,095
	22	News Corp., Class A		542
	25	Omnicom Group, Inc.		1,820

				30,113

		Metals & Mining — 0.2%
	74	Cleveland-Cliffs, Inc.(a)		1,850
	42	Commercial Metals Co.		1,377
	3	Nucor Corp.		312
	18	Reliance Steel & Aluminum Co.		2,829
	11	Royal Gold, Inc.		1,337

				7,705

		Multi-Utilities — 0.1%
	18	Consolidated Edison, Inc.		1,328
	7	DTE Energy Co.		821
	10	Sempra Energy		1,306
	6	WEC Energy Group, Inc.		565

				4,020

		Multiline Retail — 0.2%
	109	Macy’s, Inc.(a)		1,853
	13	Target Corp.		3,394

				5,247

		Oil, Gas & Consumable Fuels — 0.8%
	245	APA Corp.		4,594
	83	ConocoPhillips		4,653
	23	Devon Energy Corp.		594
	45	Diamondback Energy, Inc.		3,471
	3	DTE Midstream LLC(a)		127
	105	EOG Resources, Inc.		7,650
	48	EQT Corp.(a)		883
	52	Kinder Morgan, Inc.		904
	79	Marathon Oil Corp.		916
	22	ONEOK, Inc.		1,143
	147	Southwestern Energy Co.(a)		692
	16	Valero Energy Corp.		1,072
	25	World Fuel Services Corp.		861

				27,560

		Paper & Forest Products — 0.1%
	31	Louisiana-Pacific Corp.		1,719

		Pharmaceuticals — 0.9%
	21	Bristol-Myers Squibb Co.		1,425
	9	Eli Lilly & Co.		2,192
	10	Jazz Pharmaceuticals PLC(a)		1,695
	65	Merck & Co., Inc.		4,997
	79	Novartis AG, Sponsored ADR		7,299
	25	Novo Nordisk A/S, Sponsored ADR		2,315
	6	Organon & Co.(a)		174
	10	Perrigo Co. PLC		480
	52	Pfizer, Inc.		2,226
	139	Roche Holding AG, Sponsored ADR		6,708
	2	Zoetis, Inc.		405

				29,916

		Professional Services — 0.2%
	18	Exponent, Inc.		1,928
	2	IHS Markit Ltd.		234
	8	Insperity, Inc.		793
		Professional Services — continued
	18	Korn Ferry		1,237
	11	ManpowerGroup, Inc.		1,304
	9	Nielsen Holdings PLC		213

				5,709

		Real Estate Management & Development — 0.2%
	35	CBRE Group, Inc., Class A(a)		3,376
	9	Jones Lang LaSalle, Inc.(a)		2,003

				5,379

		REITs – Apartments — 0.2%
	34	American Campus Communities, Inc.		1,711
	23	Camden Property Trust		3,436
	8	Equity Residential		673

				5,820

		REITs – Diversified — 0.2%
	11	American Tower Corp.		3,111
	2	Crown Castle International Corp.		386
	16	CyrusOne, Inc.		1,140
	18	Weyerhaeuser Co.		607

				5,244

		REITs – Health Care — 0.0%
	10	Ventas, Inc.		598
	4	Welltower, Inc.		347

				945

		REITs – Hotels — 0.0%
	30	Host Hotels & Resorts, Inc.(a)		478

		REITs – Mortgage — 0.1%
	51	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		2,897

		REITs – Office Property — 0.2%
	1	Boston Properties, Inc.		117
	50	Corporate Office Properties Trust		1,472
	58	Douglas Emmett, Inc.		1,937
	78	Easterly Government Properties, Inc.		1,771
	25	Kilroy Realty Corp.		1,732

				7,029

		REITs – Shopping Centers — 0.1%
	139	Brixmor Property Group, Inc.		3,200

		REITs – Storage — 0.0%
	7	Iron Mountain, Inc.		306

		REITs – Warehouse/Industrials — 0.1%
	22	ProLogis, Inc.		2,817

		Road & Rail — 0.2%
	21	CSX Corp.		679
	8	Norfolk Southern Corp.		2,063
	16	Ryder System, Inc.		1,218
	8	Union Pacific Corp.		1,750

				5,710

		Semiconductors & Semiconductor Equipment — 1.8%
	14	Advanced Micro Devices, Inc.(a)		1,487
	5	Analog Devices, Inc.		837
	11	Applied Materials, Inc.		1,539
	19	Cirrus Logic, Inc.(a)		1,569
	35	Cree, Inc.(a)		3,247
	12	Enphase Energy, Inc.(a)		2,275
	46	First Solar, Inc.(a)		3,958
	26	Ichor Holdings Ltd.(a)		1,341
	50	Intel Corp.		2,686
	1	Lam Research Corp.		637

See accompanying notes to financial statements.

23 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	10	Micron Technology, Inc.(a)	$	776
	127	NVIDIA Corp.		24,764
	1	NXP Semiconductors NV		206
	55	QUALCOMM, Inc.		8,239
	15	Silicon Laboratories, Inc.(a)		2,235
	16	Texas Instruments, Inc.		3,050
	8	Universal Display Corp.		1,876
	3	Xilinx, Inc.		449

				61,171

		Software — 2.6%
	9	Adobe, Inc.(a)		5,595
	9	ANSYS, Inc.(a)		3,316
	45	Autodesk, Inc.(a)		14,451
	11	Blackbaud, Inc.(a)		785
	15	Bottomline Technologies, Inc.(a)		605
	3	Citrix Systems, Inc.		302
	24	CommVault Systems, Inc.(a)		1,814
	6	Fair Isaac Corp.(a)		3,143
	58	Microsoft Corp.		16,525
	11	NortonLifeLock, Inc.		273
	178	Oracle Corp.		15,511
	10	Paylocity Holding Corp.(a)		2,075
	11	Qualys, Inc.(a)		1,117
	42	salesforce.com, Inc.(a)		10,161
	16	SPS Commerce, Inc.(a)		1,743
	48	Workday, Inc., Class A(a)		11,251

				88,667

		Specialty Retail — 0.6%
	34	American Eagle Outfitters, Inc.		1,172
	13	Asbury Automotive Group, Inc.(a)		2,671
	9	Best Buy Co., Inc.		1,011
	16	Boot Barn Holdings, Inc.(a)		1,383
	6	Five Below, Inc.(a)		1,166
	4	GameStop Corp., Class A(a)		644
	18	Gap, Inc. (The)		525
	18	Home Depot, Inc. (The)		5,907
	8	Lithia Motors, Inc.		3,018
	4	Lowe’s Cos., Inc.		771
	11	Monro, Inc.		638
	2	TJX Cos., Inc. (The)		138
	2	Ulta Beauty, Inc.(a)		672
	12	Williams-Sonoma, Inc.		1,820

				21,536

		Technology Hardware, Storage & Peripherals — 0.3%
	320	Hewlett Packard Enterprise Co.		4,640
	189	HP, Inc.		5,456
	32	NCR Corp.(a)		1,421
	4	Seagate Technology Holdings PLC		352

				11,869

		Textiles, Apparel & Luxury Goods — 0.3%
	8	Deckers Outdoor Corp.(a)		3,287
	254	Under Armour, Inc., Class A(a)		5,194
	22	VF Corp.		1,764
	29	Wolverine World Wide, Inc.		973

				11,218

		Thrifts & Mortgage Finance — 0.0%
	42	Mr. Cooper Group, Inc.(a)		1,562

		Trading Companies & Distributors — 0.0%
	9	GATX Corp.		830

		Water Utilities — 0.2%
	10	American Water Works Co., Inc.		1,701
	77	Essential Utilities, Inc.		3,782

				5,483

		Wireless Telecommunication Services — 0.1%
	21	Shenandoah Telecommunications Co.		1,109
	21	T-Mobile US, Inc.(a)		3,024

				4,133

		Total Common Stocks (Identified Cost $889,677)		1,171,668


Principal Amount
	Bonds and Notes — 19.5%
		Automotive — 0.5%
$	7,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		7,929
	2,000	Lear Corp., 4.250%, 5/15/2029		2,303
	5,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		5,053

				15,285

		Banking — 2.4%
	5,000	American Express Co., 3.700%, 8/03/2023		5,318
	5,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		5,063
	5,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		5,387
	4,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		4,283
	4,000	Citigroup, Inc., 4.600%, 3/09/2026		4,582
	2,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		2,038
	5,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		5,477
	5,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		5,306
	7,000	KeyCorp, MTN, 2.550%, 10/01/2029		7,425
	2,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		2,211
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,350
	5,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		5,364
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		4,224
	2,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		2,141
	4,000	State Street Corp., 2.400%, 1/24/2030		4,248
	5,000	Truist Bank, 3.200%, 4/01/2024		5,348
	6,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		6,431
	5,000	Westpac Banking Corp., 2.350%, 2/19/2025		5,276

				82,472

		Brokerage — 0.3%
	5,000	BlackRock, Inc., 2.400%, 4/30/2030		5,321
	5,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		5,060

				10,381

		Chemicals — 0.1%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		2,649

		Construction Machinery — 0.3%
	7,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		7,049
	4,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		4,041

				11,090

		Consumer Cyclical Services — 0.2%
	7,000	eBay, Inc., 3.800%, 3/09/2022		7,123

		Electric — 0.9%
	5,000	Duke Energy Corp., 3.750%, 4/15/2024		5,384
	5,000	Entergy Corp., 0.900%, 9/15/2025		4,973

See accompanying notes to financial statements.

| 24

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — continued
$	4,000	Exelon Corp., 4.050%, 4/15/2030	$	4,623
	5,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		5,136
	3,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		3,201
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		2,191
	5,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		5,485

				30,993

		Finance Companies — 0.1%
	4,000	Ares Capital Corp., 3.250%, 7/15/2025		4,241

		Financial Other — 0.2%
	5,000	ORIX Corp., 2.900%, 7/18/2022		5,125

		Food & Beverage — 0.7%
	7,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		7,149
	7,000	General Mills, Inc., 4.000%, 4/17/2025		7,759
	7,000	Mondelez International, Inc., 2.750%, 4/13/2030		7,469

				22,377

		Government Owned – No Guarantee — 0.3%
	8,000	Federal National Mortgage Association, 6.625%, 11/15/2030		11,699

		Health Insurance — 0.4%
	6,000	Anthem, Inc., 4.101%, 3/01/2028		6,914
	4,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		5,727

				12,641

		Healthcare — 0.4%
	2,000	Cigna Corp., 3.750%, 7/15/2023		2,124
	3,000	CVS Health Corp., 4.300%, 3/25/2028		3,473
	4,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		4,184
	4,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		4,299

				14,080

		Independent Energy — 0.2%
	5,000	EQT Corp., 3.000%, 10/01/2022		5,069

		Integrated Energy — 0.5%
	5,000	BP Capital Markets PLC, 3.814%, 2/10/2024		5,399
	5,000	Exxon Mobil Corp., 2.992%, 3/19/2025		5,368
	4,000	Shell International Finance BV, 6.375%, 12/15/2038		5,964

				16,731

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567
	2,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		2,209

				4,776

		Media Entertainment — 0.1%
	4,000	ViacomCBS, Inc., 4.750%, 5/15/2025		4,533

		Midstream — 0.2%
	5,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		5,387

		Mortgage Related — 3.3%
	1,467	FHLMC, 3.000%, 6/01/2049		1,537
	35,641	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		36,370
	31,874	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		33,227
	22,498	FNMA, 3.000%, with various maturities from 2035 to 2051(b)		23,623
	11,737	FNMA, 3.500%, with various maturities in 2049(b)		12,562
	2,462	FNMA, 4.000%, 3/01/2050		2,628
	2,703	FNMA, 4.500%, with various maturities in 2049(b)		2,914

				112,861

		Natural Gas — 0.2%
	7,000	NiSource, Inc., 0.950%, 8/15/2025		6,962

		Pharmaceuticals — 0.7%
	7,000	AbbVie, Inc., 3.600%, 5/14/2025		7,648
	5,000	Amgen, Inc., 2.650%, 5/11/2022		5,083
	3,000	Biogen, Inc., 2.250%, 5/01/2030		3,056
	7,000	Johnson & Johnson, 1.300%, 9/01/2030		6,905
	2,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		2,180

				24,872

		Property & Casualty Insurance — 0.2%
	5,000	American International Group, Inc., 3.400%, 6/30/2030		5,524
	2,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		2,186

				7,710

		Railroads — 0.2%
	5,000	CSX Corp., 2.600%, 11/01/2026		5,345

		REITs – Apartments — 0.1%
	3,000	Essex Portfolio LP, 3.000%, 1/15/2030		3,210

		REITs – Health Care — 0.1%
	3,000	Welltower, Inc., 2.800%, 6/01/2031		3,171

		REITs – Office Property — 0.1%
	3,000	Boston Properties LP, 2.750%, 10/01/2026		3,219

		REITs – Retail — 0.1%
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		2,025
	2,000	VEREIT Operating Partnership LP, 3.400%, 1/15/2028		2,207

				4,232

		Restaurants — 0.2%
	7,000	Starbucks Corp., 2.250%, 3/12/2030		7,202

		Retailers — 0.1%
	2,000	Amazon.com, Inc., 3.875%, 8/22/2037		2,424

		Technology — 1.4%
	7,000	Apple, Inc., 2.500%, 2/09/2025		7,419
	4,000	Broadcom, Inc., 4.110%, 9/15/2028		4,514
	4,000	HP, Inc., 3.000%, 6/17/2027		4,318
	4,000	Intel Corp., 2.450%, 11/15/2029		4,216
	6,000	International Business Machines Corp., 4.000%, 6/20/2042		7,131
	4,000	NVIDIA Corp., 2.850%, 4/01/2030		4,374
	5,000	Oracle Corp., 2.950%, 5/15/2025		5,336
	7,000	QUALCOMM, Inc., 1.650%, 5/20/2032		6,829
	5,000	VMware, Inc., 2.950%, 8/21/2022		5,120

				49,257

		Treasuries — 4.3%
	7,000	U.S. Treasury Bond, 2.250%, 5/15/2041		7,520
	5,000	U.S. Treasury Bond, 2.500%, 5/15/2046		5,610
	15,000	U.S. Treasury Bond, 2.875%, 11/15/2046		18,015
	17,000	U.S. Treasury Bond, 3.000%, 5/15/2045		20,707
	8,000	U.S. Treasury Bond, 3.000%, 2/15/2048		9,869
	14,000	U.S. Treasury Bond, 3.000%, 2/15/2049		17,353
	21,000	U.S. Treasury Note, 0.375%, 11/30/2025		20,799
	19,000	U.S. Treasury Note, 1.625%, 8/31/2022		19,313
	28,000	U.S. Treasury Note, 2.125%, 12/31/2022		28,789

				147,975

		Utility Other — 0.1%
	3,000	Essential Utilities, Inc., 4.276%, 5/01/2049		3,683

		Wireless — 0.2%
	4,000	Vodafone Group PLC, 6.150%, 2/27/2037		5,597

		Wirelines — 0.3%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		2,120

See accompanying notes to financial statements.

25 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Principal Amount		Description	Value (†)
		Wirelines — continued
$	2,000	AT&T, Inc., 5.250%, 3/01/2037	$	2,541
	5,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		5,145

				9,806

		Total Bonds and Notes (Identified Cost $661,661)		664,178


Shares
	Exchange-Traded Funds — 4.4%
	1,899	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $123,520)		151,084


	Mutual Funds — 6.4%
	3,116	WCM Focused Emerging Markets Fund, Institutional Class		62,642
	5,466	WCM Focused International Growth Fund, Institutional Class		153,657

		Total Mutual Funds (Identified Cost $176,984)		216,299


	Affiliated Mutual Funds — 33.4%
	25,371	Loomis Sayles Inflation Protected Securities Fund, Class N		311,559
	30,017	Loomis Sayles Limited Term Government and Agency Fund, Class N		344,894
	31,023	Mirova Global Green Bond Fund, Class N		329,463
	10,292	Mirova International Sustainable Equity Fund, Class N		153,867

		Total Affiliated Mutual Funds (Identified Cost $1,100,205)		1,139,783


Principal Amount
	Short-Term Investments — 3.1%
$	104,997	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $104,997 on 8/02/2021 collateralized by $109,000 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $107,614 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $104,997)		104,997


		Total Investments — 101.1% (Identified Cost $3,057,044)		3,448,009
		Other assets less liabilities — (1.1)%		(36,646	)

		Net Assets — 100.0%	$	3,411,363


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $4,391 or 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	49.6	%
Fixed Income	48.4
Short-Term Investments	3.1

Total Investments	101.1
Other assets less liabilities	(1.1	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 26

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund


Shares		Description	Value (†)
	Common Stocks — 38.3% of Net Assets
		Aerospace & Defense — 0.6%
	26	Axon Enterprise, Inc.(a)	$	4,837
	144	Boeing Co. (The)(a)		32,613
	57	General Dynamics Corp.		11,174
	4	L3Harris Technologies, Inc.		907
	36	Moog, Inc., Class A		2,803
	58	Raytheon Technologies Corp.		5,043

				57,377

		Air Freight & Logistics — 0.2%
	127	Expeditors International of Washington, Inc.		16,288
	33	United Parcel Service, Inc., Class B		6,315

				22,603

		Airlines — 0.1%
	13	Alaska Air Group, Inc.(a)		754
	60	Delta Air Lines, Inc.(a)		2,394
	369	JetBlue Airways Corp.(a)		5,458

				8,606

		Auto Components — 0.1%
	9	Aptiv PLC(a)		1,502
	13	BorgWarner, Inc.		637
	251	Dana, Inc.		6,064
	32	Visteon Corp.(a)		3,649

				11,852

		Automobiles — 0.3%
	358	General Motors Co.(a)		20,349
	34	Thor Industries, Inc.		4,024

				24,373

		Banks — 1.8%
	180	Ameris Bancorp		8,750
	164	Bancorp, Inc. (The)(a)		3,833
	179	BancorpSouth Bank		4,618
	646	Bank of America Corp.		24,780
	362	Citigroup, Inc.		24,478
	114	Citizens Financial Group, Inc.		4,806
	8	Comerica, Inc.		549
	87	Cullen/Frost Bankers, Inc.		9,337
	52	Fifth Third Bancorp		1,887
	312	Fulton Financial Corp.		4,780
	76	Huntington Bancshares, Inc.		1,070
	152	International Bancshares Corp.		5,940
	163	KeyCorp		3,205
	9	M&T Bank Corp.		1,205
	158	People’s United Financial, Inc.		2,481
	65	PNC Financial Services Group, Inc. (The)		11,857
	181	Regions Financial Corp.		3,484
	214	Truist Financial Corp.		11,648
	245	Trustmark Corp.		7,355
	109	U.S. Bancorp		6,054
	146	Webster Financial Corp.		7,023
	366	Wells Fargo & Co.		16,814
	66	Wintrust Financial Corp.		4,712

				170,666

		Beverages — 1.0%
	159	Coca-Cola Co. (The)		9,068
	78	Constellation Brands, Inc., Class A		17,498
	770	Keurig Dr Pepper, Inc.		27,112
	394	Monster Beverage Corp.(a)		37,162
	56	PepsiCo, Inc.		8,789

				99,629

		Biotechnology — 1.2%
	46	AbbVie, Inc.		5,350
	123	Alnylam Pharmaceuticals, Inc.(a)		22,010
	40	Amgen, Inc.		9,662
	12	Biogen, Inc.(a)		3,921
	104	BioMarin Pharmaceutical, Inc.(a)		7,980
	110	CRISPR Therapeutics AG(a)		13,312
	33	Gilead Sciences, Inc.		2,253
	24	Ligand Pharmaceuticals, Inc.(a)		2,724
	77	Regeneron Pharmaceuticals, Inc.(a)		44,245

				111,457

		Building Products — 0.3%
	24	Carlisle Cos., Inc.		4,854
	31	Carrier Global Corp.		1,713
	28	Johnson Controls International PLC		2,000
	25	Lennox International, Inc.		8,236
	75	Owens Corning		7,212
	47	Trex Co., Inc.(a)		4,563

				28,578

		Capital Markets — 2.6%
	9	Ameriprise Financial, Inc.		2,318
	590	Bank of New York Mellon Corp. (The)		30,285
	8	BlackRock, Inc.		6,937
	363	Charles Schwab Corp. (The)		24,666
	15	CME Group, Inc.		3,182
	56	FactSet Research Systems, Inc.		20,008
	52	Franklin Resources, Inc.		1,537
	58	Goldman Sachs Group, Inc. (The)		21,743
	93	Intercontinental Exchange, Inc.		11,144
	14	Invesco Ltd.		341
	127	Janus Henderson Group PLC		5,314
	173	KKR & Co., Inc.		11,030
	26	Moody’s Corp.		9,776
	19	Morgan Stanley		1,824
	31	MSCI, Inc.		18,475
	107	Northern Trust Corp.		12,075
	37	S&P Global, Inc.		15,863
	212	SEI Investments Co.		12,889
	382	State Street Corp.		33,287
	6	T. Rowe Price Group, Inc.		1,225
	31	Virtus Investment Partners, Inc.		8,560

				252,479

		Chemicals — 0.4%
	9	Air Products & Chemicals, Inc.		2,619
	20	DuPont de Nemours, Inc.		1,501
	11	Ecolab, Inc.		2,429
	69	HB Fuller Co.		4,459
	50	Innospec, Inc.		4,423
	41	Linde PLC		12,603
	59	Minerals Technologies, Inc.		4,733
	8	PPG Industries, Inc.		1,308
	9	Sherwin-Williams Co. (The)		2,619
	34	Stepan Co.		4,010

				40,704

		Commercial Services & Supplies — 0.2%
	62	Healthcare Services Group, Inc.		1,618
	35	MSA Safety, Inc.		5,757
	7	Republic Services, Inc.		829
	51	Tetra Tech, Inc.		6,809
	72	Viad Corp.(a)		3,301
	12	Waste Management, Inc.		1,779

				20,093

See accompanying notes to financial statements.

27 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.5%
	34	Arista Networks, Inc.(a)	$	12,933
	84	Ciena Corp.(a)		4,884
	404	Cisco Systems, Inc.		22,369
	6	F5 Networks, Inc.(a)		1,239
	44	Lumentum Holdings, Inc.(a)		3,696

				45,121

		Construction & Engineering — 0.1%
	156	AECOM(a)		9,822

		Consumer Finance — 1.0%
	669	Ally Financial, Inc.		34,360
	144	American Express Co.		24,556
	218	Capital One Financial Corp.		35,251
	42	Green Dot Corp., Class A(a)		1,935
	38	PROG Holdings, Inc.		1,663

				97,765

		Containers & Packaging — 0.1%
	48	Ball Corp.		3,882
	35	International Paper Co.		2,022

				5,904

		Distributors — 0.0%
	30	Genuine Parts Co.		3,808

		Diversified Telecommunication Services — 0.2%
	178	AT&T, Inc.		4,993
	997	Lumen Technologies, Inc.		12,432

				17,425

		Electric Utilities — 0.4%
	98	American Electric Power Co., Inc.		8,636
	170	Edison International		9,265
	23	Eversource Energy		1,984
	46	IDACORP, Inc.		4,851
	168	NextEra Energy, Inc.		13,087
	31	PPL Corp.		879

				38,702

		Electrical Equipment — 0.4%
	18	Acuity Brands, Inc.		3,157
	37	Eaton Corp. PLC		5,848
	32	Hubbell, Inc.		6,415
	286	Plug Power, Inc.(a)		7,802
	27	Rockwell Automation, Inc.		8,300
	48	Sunrun, Inc.(a)		2,542

				34,064

		Electronic Equipment, Instruments & Components — 0.6%
	18	Amphenol Corp., Class A		1,305
	89	Avnet, Inc.		3,677
	88	Cognex Corp.		7,956
	20	Coherent, Inc.(a)		4,919
	22	Corning, Inc.		921
	113	Itron, Inc.(a)		11,144
	18	Littelfuse, Inc.		4,788
	16	Rogers Corp.(a)		3,050
	107	TE Connectivity Ltd.		15,779
	157	Vishay Intertechnology, Inc.		3,474

				57,013

		Energy Equipment & Services — 0.3%
	677	Archrock, Inc.		5,829
	80	Baker Hughes Co.		1,699
	197	ChampionX Corp.(a)		4,578
	65	NOV, Inc.(a)		898
	513	Schlumberger NV		14,790

				27,794

		Entertainment — 0.8%
	25	Activision Blizzard, Inc.		2,090
	68	Cinemark Holdings, Inc.(a)		1,056
	57	Electronic Arts, Inc.		8,206
	40	Netflix, Inc.(a)		20,703
	230	Walt Disney Co. (The)(a)		40,485

				72,540

		Food & Staples Retailing — 0.1%
	70	BJ’s Wholesale Club Holdings, Inc.(a)		3,545
	3	Costco Wholesale Corp.		1,289
	52	Kroger Co. (The)		2,116
	216	SpartanNash Co.		4,201
	14	Sysco Corp.		1,039
	45	Walgreens Boots Alliance, Inc.		2,122

				14,312

		Food Products — 0.3%
	50	Campbell Soup Co.		2,186
	12	Conagra Brands, Inc.		402
	83	Darling Ingredients, Inc.(a)		5,733
	40	General Mills, Inc.		2,354
	93	Hain Celestial Group, Inc. (The)(a)		3,712
	54	Hormel Foods Corp.		2,504
	44	Ingredion, Inc.		3,864
	11	J.M. Smucker Co. (The)		1,442
	20	Kellogg Co.		1,267
	12	McCormick & Co., Inc.		1,010

				24,474

		Gas Utilities — 0.2%
	88	New Jersey Resources Corp.		3,390
	50	ONE Gas, Inc.		3,689
	97	South Jersey Industries, Inc.		2,441
	113	UGI Corp.		5,197

				14,717

		Health Care Equipment & Supplies — 0.8%
	46	Abbott Laboratories		5,565
	9	Baxter International, Inc.		696
	8	Becton Dickinson & Co.		2,046
	38	Boston Scientific Corp.(a)		1,733
	6	Cooper Cos., Inc. (The)		2,531
	19	Danaher Corp.		5,652
	11	DENTSPLY SIRONA, Inc.		726
	43	Edwards Lifesciences Corp.(a)		4,828
	49	Globus Medical, Inc., Class A(a)		4,075
	23	Haemonetics Corp.(a)		1,398
	46	Hill-Rom Holdings, Inc.		6,369
	19	Hologic, Inc.(a)		1,426
	14	Intuitive Surgical, Inc.(a)		13,880
	35	Medtronic PLC		4,596
	105	Meridian Bioscience, Inc.(a)		2,153
	35	Merit Medical Systems, Inc.(a)		2,453
	25	Penumbra, Inc.(a)		6,656
	13	Quidel Corp.(a)		1,839
	23	STAAR Surgical Co.(a)		2,942
	5	STERIS PLC		1,090
	9	Stryker Corp.		2,439

				75,093

		Health Care Providers & Services — 1.4%
	16	Amedisys, Inc.(a)		4,170
	22	Anthem, Inc.		8,448
	107	Centene Corp.(a)		7,341
	12	Chemed Corp.		5,712
	28	Cigna Corp.		6,426

See accompanying notes to financial statements.

| 28

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	161	CVS Health Corp.	$	13,260
	42	Encompass Health Corp.		3,497
	126	HCA Healthcare, Inc.		31,273
	23	Henry Schein, Inc.(a)		1,843
	51	Humana, Inc.		21,719
	17	Laboratory Corp. of America Holdings(a)		5,035
	181	MEDNAX, Inc.(a)		5,271
	77	Patterson Cos., Inc.		2,397
	27	Quest Diagnostics, Inc.		3,829
	123	Select Medical Holdings Corp.		4,852
	24	UnitedHealth Group, Inc.		9,893

				134,966

		Health Care Technology — 0.1%
	287	Allscripts Healthcare Solutions, Inc.(a)		4,902
	122	Cerner Corp.		9,808

				14,710

		Hotels, Restaurants & Leisure — 1.2%
	10	Booking Holdings, Inc.(a)		21,783
	3	Chipotle Mexican Grill, Inc.(a)		5,590
	8	Expedia Group, Inc.(a)		1,287
	135	Hilton Worldwide Holdings, Inc.(a)		17,746
	53	Jack in the Box, Inc.		5,770
	14	McDonald’s Corp.		3,398
	17	Royal Caribbean Cruises Ltd.(a)		1,307
	61	Shake Shack, Inc., Class A(a)		6,133
	87	Six Flags Entertainment Corp.(a)		3,615
	192	Starbucks Corp.		23,314
	179	Wendy’s Co. (The)		4,155
	191	Yum China Holdings, Inc.		11,878
	68	Yum! Brands, Inc.		8,934

				114,910

		Household Durables — 0.2%
	141	KB Home		5,984
	105	Meritage Homes Corp.(a)		11,401
	193	Taylor Morrison Home Corp.(a)		5,176

				22,561

		Household Products — 0.3%
	5	Clorox Co. (The)		905
	184	Colgate-Palmolive Co.		14,628
	106	Kimberly-Clark Corp.		14,386

				29,919

		Independent Power & Renewable Electricity Producers — 0.2%
	58	AES Corp. (The)		1,375
	149	NextEra Energy Partners LP		11,552
	57	Ormat Technologies, Inc.		3,975
	85	Sunnova Energy International, Inc.(a)		3,238

				20,140

		Industrial Conglomerates — 0.2%
	1,257	General Electric Co.		16,278
	7	Honeywell International, Inc.		1,637

				17,915

		Insurance — 1.0%
	21	Aflac, Inc.		1,155
	29	Allstate Corp. (The)		3,771
	379	American International Group, Inc.		17,946
	52	Chubb Ltd.		8,775
	81	First American Financial Corp.		5,452
	29	Hanover Insurance Group, Inc. (The)		3,941
	116	Hartford Financial Services Group, Inc. (The)		7,380
	12	Lincoln National Corp.		739
		Insurance — continued
	36	Marsh & McLennan Cos., Inc.		5,300
	256	MetLife, Inc.		14,771
	46	Prudential Financial, Inc.		4,613
	200	Reinsurance Group of America, Inc.		22,036
	24	Travelers Cos., Inc. (The)		3,574

				99,453

		Interactive Media & Services — 2.1%
	22	Alphabet, Inc., Class A(a)		59,280
	24	Alphabet, Inc., Class C(a)		64,906
	228	Facebook, Inc., Class A(a)		81,236

				205,422

		Internet & Direct Marketing Retail — 1.4%
	168	Alibaba Group Holding Ltd., Sponsored ADR(a)		32,792
	18	Amazon.com, Inc.(a)		59,897
	492	eBay, Inc.		33,559
	7	Etsy, Inc.(a)		1,284
	529	Qurate Retail, Inc., Class A		6,274

				133,806

		IT Services — 2.2%
	50	Accenture PLC, Class A		15,884
	95	Akamai Technologies, Inc.(a)		11,392
	117	Automatic Data Processing, Inc.		24,527
	40	Cognizant Technology Solutions Corp., Class A		2,941
	494	DXC Technology Co.(a)		19,750
	164	Fiserv, Inc.(a)		18,878
	87	Gartner, Inc.(a)		23,032
	73	MasterCard, Inc., Class A		28,174
	19	Paychex, Inc.		2,163
	12	VeriSign, Inc.(a)		2,596
	219	Visa, Inc., Class A		53,959
	24	WEX, Inc.(a)		4,554

				207,850

		Leisure Products — 0.0%
	100	Callaway Golf Co.(a)		3,168

		Life Sciences Tools & Services — 0.6%
	15	Agilent Technologies, Inc.		2,298
	17	Bio-Techne Corp.		8,198
	52	Illumina, Inc.(a)		25,779
	94	NeoGenomics, Inc.(a)		4,333
	45	Repligen Corp.(a)		11,057
	10	Thermo Fisher Scientific, Inc.		5,400
	6	Waters Corp.(a)		2,339

				59,404

		Machinery — 1.1%
	60	AGCO Corp.		7,927
	55	Caterpillar, Inc.		11,371
	32	Chart Industries, Inc.(a)		4,974
	51	Cummins, Inc.		11,837
	95	Deere & Co.		34,351
	11	Illinois Tool Works, Inc.		2,493
	78	ITT, Inc.		7,637
	94	Kennametal, Inc.		3,408
	61	Oshkosh Corp.		7,293
	13	Parker-Hannifin Corp.		4,056
	15	Proto Labs, Inc.(a)		1,173
	74	Terex Corp.		3,546
	67	Toro Co. (The)		7,621

				107,687

		Media — 0.9%
	4	Cable One, Inc.		7,552
	33	Charter Communications, Inc., Class A(a)		24,554

See accompanying notes to financial statements.

29 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	629	Comcast Corp., Class A	$	37,004
	93	Discovery, Inc., Series A(a)		2,698
	17	Discovery, Inc., Series C(a)		461
	64	Fox Corp., Class A		2,282
	51	Interpublic Group of Cos., Inc. (The)		1,803
	80	New York Times Co. (The), Class A		3,502
	63	News Corp., Class A		1,552
	70	Omnicom Group, Inc.		5,098

				86,506

		Metals & Mining — 0.3%
	250	Cleveland-Cliffs, Inc.(a)		6,250
	141	Commercial Metals Co.		4,625
	8	Nucor Corp.		832
	59	Reliance Steel & Aluminum Co.		9,272
	40	Royal Gold, Inc.		4,861

				25,840

		Multi-Utilities — 0.1%
	55	Consolidated Edison, Inc.		4,057
	24	DTE Energy Co.		2,816
	29	Sempra Energy		3,789
	15	WEC Energy Group, Inc.		1,412

				12,074

		Multiline Retail — 0.2%
	366	Macy’s, Inc.(a)		6,222
	37	Target Corp.		9,659

				15,881

		Oil, Gas & Consumable Fuels — 0.8%
	745	APA Corp.		13,969
	245	ConocoPhillips		13,735
	68	Devon Energy Corp.		1,757
	136	Diamondback Energy, Inc.		10,490
	10	DTE Midstream LLC(a)		424
	319	EOG Resources, Inc.		23,242
	135	EQT Corp.(a)		2,483
	137	Kinder Morgan, Inc.		2,381
	262	Marathon Oil Corp.		3,037
	54	ONEOK, Inc.		2,806
	426	Southwestern Energy Co.(a)		2,006
	39	Valero Energy Corp.		2,612
	76	World Fuel Services Corp.		2,619

				81,561

		Paper & Forest Products — 0.1%
	104	Louisiana-Pacific Corp.		5,766

		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		1,001

		Pharmaceuticals — 1.0%
	60	Bristol-Myers Squibb Co.		4,072
	29	Eli Lilly & Co.		7,061
	34	Jazz Pharmaceuticals PLC(a)		5,764
	196	Merck & Co., Inc.		15,066
	240	Novartis AG, Sponsored ADR		22,174
	80	Novo Nordisk A/S, Sponsored ADR		7,408
	19	Organon & Co.(a)		551
	27	Perrigo Co. PLC		1,297
	144	Pfizer, Inc.		6,165
	435	Roche Holding AG, Sponsored ADR		20,993
	6	Zoetis, Inc.		1,216

				91,767

		Professional Services — 0.2%
	63	Exponent, Inc.		6,747
	8	IHS Markit Ltd.		935
		Professional Services — continued
	22	Insperity, Inc.		2,179
	64	Korn Ferry		4,399
	36	ManpowerGroup, Inc.		4,269
	22	Nielsen Holdings PLC		521

				19,050

		Real Estate Management & Development — 0.2%
	105	CBRE Group, Inc., Class A(a)		10,129
	32	Jones Lang LaSalle, Inc.(a)		7,122

				17,251

		REITs – Apartments — 0.2%
	114	American Campus Communities, Inc.		5,735
	76	Camden Property Trust		11,354
	24	Equity Residential		2,019

				19,108

		REITs – Diversified — 0.2%
	38	American Tower Corp.		10,746
	6	Crown Castle International Corp.		1,159
	52	CyrusOne, Inc.		3,706
	47	Weyerhaeuser Co.		1,585

				17,196

		REITs – Health Care — 0.0%
	24	Ventas, Inc.		1,435
	13	Welltower, Inc.		1,129

				2,564

		REITs – Hotels — 0.0%
	79	Host Hotels & Resorts, Inc.(a)		1,258

		REITs – Mortgage — 0.1%
	155	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		8,804

		REITs – Office Property — 0.2%
	4	Boston Properties, Inc.		469
	172	Corporate Office Properties Trust		5,064
	192	Douglas Emmett, Inc.		6,413
	263	Easterly Government Properties, Inc.		5,970
	86	Kilroy Realty Corp.		5,957

				23,873

		REITs – Shopping Centers — 0.1%
	456	Brixmor Property Group, Inc.		10,497

		REITs – Storage — 0.0%
	19	Iron Mountain, Inc.		831

		REITs – Warehouse/Industrials — 0.1%
	65	ProLogis, Inc.		8,323

		Road & Rail — 0.2%
	78	CSX Corp.		2,521
	28	Norfolk Southern Corp.		7,219
	51	Ryder System, Inc.		3,884
	22	Union Pacific Corp.		4,813

				18,437

		Semiconductors & Semiconductor Equipment — 2.0%
	39	Advanced Micro Devices, Inc.(a)		4,141
	18	Analog Devices, Inc.		3,014
	32	Applied Materials, Inc.		4,478
	67	Cirrus Logic, Inc.(a)		5,534
	115	Cree, Inc.(a)		10,667
	35	Enphase Energy, Inc.(a)		6,636
	134	First Solar, Inc.(a)		11,529
	85	Ichor Holdings Ltd.(a)		4,383
	150	Intel Corp.		8,058

See accompanying notes to financial statements.

| 30

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	6	Lam Research Corp.	$	3,824
	25	Micron Technology, Inc.(a)		1,940
	402	NVIDIA Corp.		78,386
	4	NXP Semiconductors NV		826
	167	QUALCOMM, Inc.		25,017
	50	Silicon Laboratories, Inc.(a)		7,449
	54	Texas Instruments, Inc.		10,293
	27	Universal Display Corp.		6,331
	8	Xilinx, Inc.		1,199

				193,705

		Software — 2.8%
	29	Adobe, Inc.(a)		18,027
	28	ANSYS, Inc.(a)		10,317
	133	Autodesk, Inc.(a)		42,710
	36	Blackbaud, Inc.(a)		2,568
	51	Bottomline Technologies, Inc.(a)		2,058
	8	Citrix Systems, Inc.		806
	75	CommVault Systems, Inc.(a)		5,669
	18	Fair Isaac Corp.(a)		9,430
	179	Microsoft Corp.		50,999
	20	NortonLifeLock, Inc.		497
	532	Oracle Corp.		46,359
	33	Paylocity Holding Corp.(a)		6,846
	32	Qualys, Inc.(a)		3,250
	131	salesforce.com, Inc.(a)		31,693
	55	SPS Commerce, Inc.(a)		5,992
	141	Workday, Inc., Class A(a)		33,051

				270,272

		Specialty Retail — 0.8%
	110	American Eagle Outfitters, Inc.		3,792
	43	Asbury Automotive Group, Inc.(a)		8,835
	3	AutoZone, Inc.(a)		4,871
	23	Best Buy Co., Inc.		2,584
	51	Boot Barn Holdings, Inc.(a)		4,407
	20	Five Below, Inc.(a)		3,888
	13	GameStop Corp., Class A(a)		2,094
	52	Gap, Inc. (The)		1,517
	61	Home Depot, Inc. (The)		20,019
	26	Lithia Motors, Inc.		9,808
	12	Lowe’s Cos., Inc.		2,312
	33	Monro, Inc.		1,914
	12	TJX Cos., Inc. (The)		826
	7	Ulta Beauty, Inc.(a)		2,351
	43	Williams-Sonoma, Inc.		6,523

				75,741

		Technology Hardware, Storage & Peripherals — 0.4%
	947	Hewlett Packard Enterprise Co.		13,732
	582	HP, Inc.		16,802
	106	NCR Corp.(a)		4,706
	13	Seagate Technology Holdings PLC		1,143

				36,383

		Textiles, Apparel & Luxury Goods — 0.4%
	26	Deckers Outdoor Corp.(a)		10,682
	788	Under Armour, Inc., Class A(a)		16,115
	62	VF Corp.		4,972
	102	Wolverine World Wide, Inc.		3,421

				35,190

		Thrifts & Mortgage Finance — 0.1%
	143	Mr. Cooper Group, Inc.(a)		5,317

		Trading Companies & Distributors — 0.0%
	30	GATX Corp.		2,767

		Water Utilities — 0.2%
	31	American Water Works Co., Inc.		5,273
	247	Essential Utilities, Inc.		12,133

				17,406

		Wireless Telecommunication Services — 0.1%
	68	Shenandoah Telecommunications Co.		3,590
	54	T-Mobile US, Inc.(a)		7,777

				11,367

		Total Common Stocks (Identified Cost $2,805,946)		3,674,618


Principal Amount
	Bonds and Notes — 17.5%
		Automotive — 0.3%
$	14,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		15,858
	4,000	Lear Corp., 4.250%, 5/15/2029		4,606
	10,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		10,105

				30,569

		Banking — 2.6%
	18,000	American Express Co., 3.700%, 8/03/2023		19,145
	13,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		13,164
	14,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		14,016
	11,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		11,851
	8,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		8,565
	14,000	Citigroup, Inc., 4.600%, 3/09/2026		16,036
	5,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		5,095
	15,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		16,432
	12,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		12,735
	16,000	KeyCorp, MTN, 2.550%, 10/01/2029		16,970
	8,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		8,843
	7,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		8,226
	16,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		17,164
	9,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		9,504
	10,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		10,703
	10,000	State Street Corp., 2.400%, 1/24/2030		10,621
	16,000	Truist Bank, 3.200%, 4/01/2024		17,115
	16,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		17,150
	15,000	Westpac Banking Corp., 2.350%, 2/19/2025		15,829

				249,164

		Brokerage — 0.3%
	14,000	BlackRock, Inc., 2.400%, 4/30/2030		14,900
	15,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		15,180

				30,080

		Chemicals — 0.1%
	4,000	LYB International Finance BV, 5.250%, 7/15/2043		5,298

		Construction Machinery — 0.3%
	18,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		18,126
	9,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		9,092

				27,218

		Consumer Cyclical Services — 0.1%
	14,000	eBay, Inc., 3.800%, 3/09/2022		14,246

		Electric — 0.9%
	12,000	Duke Energy Corp., 3.750%, 4/15/2024		12,921
	16,000	Entergy Corp., 0.900%, 9/15/2025		15,913

See accompanying notes to financial statements.

31 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — continued
$	8,000	Exelon Corp., 4.050%, 4/15/2030	$	9,246
	16,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		16,436
	9,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		9,604
	4,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		4,383
	13,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		14,260

				82,763

		Finance Companies — 0.1%
	8,000	Ares Capital Corp., 3.250%, 7/15/2025		8,481

		Financial Other — 0.1%
	13,000	ORIX Corp., 2.900%, 7/18/2022		13,324

		Food & Beverage — 0.5%
	16,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		16,340
	14,000	General Mills, Inc., 4.000%, 4/17/2025		15,518
	14,000	Mondelez International, Inc., 2.750%, 4/13/2030		14,939

				46,797

		Government Owned – No Guarantee — 0.3%
	22,000	Federal National Mortgage Association, 6.625%, 11/15/2030		32,174

		Health Insurance — 0.4%
	15,000	Anthem, Inc., 4.101%, 3/01/2028		17,286
	12,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		17,181

				34,467

		Healthcare — 0.4%
	10,000	Cigna Corp., 3.750%, 7/15/2023		10,620
	12,000	CVS Health Corp., 4.300%, 3/25/2028		13,894
	8,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		8,368
	8,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		8,598

				41,480

		Independent Energy — 0.1%
	13,000	EQT Corp., 3.000%, 10/01/2022		13,179

		Integrated Energy — 0.5%
	14,000	BP Capital Markets PLC, 3.814%, 2/10/2024		15,118
	15,000	Exxon Mobil Corp., 2.992%, 3/19/2025		16,104
	10,000	Shell International Finance BV, 6.375%, 12/15/2038		14,910

				46,132

		Life Insurance — 0.1%
	5,000	Athene Holding Ltd., 6.150%, 4/03/2030		6,418
	6,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		6,627

				13,045

		Media Entertainment — 0.1%
	10,000	ViacomCBS, Inc., 4.750%, 5/15/2025		11,332

		Midstream — 0.2%
	16,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		17,239

		Mortgage Related — 2.8%
	6,921	FHLMC, 3.500%, 8/01/2049		7,326
	90,515	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		92,365
	85,826	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		89,468
	53,890	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		56,562
	16,642	FNMA, 3.500%, with various maturities in 2049(b)		17,617
	4,196	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		4,479
		Mortgage Related — continued
	4,708	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		5,078

				272,895

		Natural Gas — 0.2%
	18,000	NiSource, Inc., 0.950%, 8/15/2025		17,902

		Pharmaceuticals — 0.6%
	14,000	AbbVie, Inc., 3.600%, 5/14/2025		15,296
	14,000	Amgen, Inc., 2.650%, 5/11/2022		14,232
	7,000	Biogen, Inc., 2.250%, 5/01/2030		7,130
	16,000	Johnson & Johnson, 1.300%, 9/01/2030		15,783
	5,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		5,451

				57,892

		Property & Casualty Insurance — 0.2%
	13,000	American International Group, Inc., 3.400%, 6/30/2030		14,361
	4,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		4,373

				18,734

		Railroads — 0.2%
	16,000	CSX Corp., 2.600%, 11/01/2026		17,103

		REITs – Apartments — 0.1%
	8,000	Essex Portfolio LP, 3.000%, 1/15/2030		8,561

		REITs – Health Care — 0.1%
	8,000	Welltower, Inc., 2.800%, 6/01/2031		8,457

		REITs – Office Property — 0.1%
	9,000	Boston Properties LP, 2.750%, 10/01/2026		9,656

		REITs – Retail — 0.1%
	4,000	Spirit Realty LP, 2.700%, 2/15/2032		4,050
	4,000	VEREIT Operating Partnership LP, 3.400%, 1/15/2028		4,413

				8,463

		Restaurants — 0.1%
	14,000	Starbucks Corp., 2.250%, 3/12/2030		14,403

		Retailers — 0.1%
	7,000	Amazon.com, Inc., 3.875%, 8/22/2037		8,484

		Technology — 1.1%
	12,000	Apple, Inc., 2.500%, 2/09/2025		12,718
	10,000	Broadcom, Inc., 4.110%, 9/15/2028		11,285
	7,000	HP, Inc., 3.000%, 6/17/2027		7,557
	8,000	Intel Corp., 2.450%, 11/15/2029		8,432
	15,000	International Business Machines Corp., 4.000%, 6/20/2042		17,828
	8,000	NVIDIA Corp., 2.850%, 4/01/2030		8,748
	13,000	Oracle Corp., 2.950%, 5/15/2025		13,874
	15,000	QUALCOMM, Inc., 1.650%, 5/20/2032		14,633
	12,000	VMware, Inc., 2.950%, 8/21/2022		12,289

				107,364

		Treasuries — 3.7%
	16,000	U.S. Treasury Bond, 2.250%, 5/15/2041		17,188
	13,000	U.S. Treasury Bond, 2.500%, 5/15/2046		14,585
	37,000	U.S. Treasury Bond, 2.875%, 11/15/2046		44,438
	35,000	U.S. Treasury Bond, 3.000%, 5/15/2045		42,633
	23,000	U.S. Treasury Bond, 3.000%, 2/15/2048		28,374
	38,000	U.S. Treasury Bond, 3.000%, 2/15/2049		47,101
	2,000	U.S. Treasury Bond, 4.375%, 5/15/2041		2,887
	57,000	U.S. Treasury Note, 0.375%, 11/30/2025		56,454
	32,000	U.S. Treasury Note, 1.625%, 8/31/2022		32,527
	67,000	U.S. Treasury Note, 2.125%, 12/31/2022		68,887

				355,074

		Utility Other — 0.1%
	7,000	Essential Utilities, Inc., 4.276%, 5/01/2049		8,593

See accompanying notes to financial statements.

| 32

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Principal Amount		Description	Value (†)
		Wireless — 0.2%
$	13,000	Vodafone Group PLC, 6.150%, 2/27/2037	$	18,190

		Wirelines — 0.4%
	7,000	AT&T, Inc., 3.650%, 6/01/2051		7,419
	7,000	AT&T, Inc., 5.250%, 3/01/2037		8,894
	17,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		17,492

				33,805

		Total Bonds and Notes (Identified Cost $1,665,542)		1,682,564


Shares
	Exchange-Traded Funds — 5.7%
	6,817	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $458,536)		542,360


	Mutual Funds — 7.6%
	13,420	WCM Focused Emerging Markets Fund, Institutional Class		269,749
	16,557	WCM Focused International Growth Fund, Institutional Class		465,430

		Total Mutual Funds (Identified Cost $621,018)		735,179


	Affiliated Mutual Funds — 27.9%
	46,005	Loomis Sayles Inflation Protected Securities Fund, Class N		564,936
	67,746	Loomis Sayles Limited Term Government and Agency Fund, Class N		778,407
	73,745	Mirova Global Green Bond Fund, Class N		783,168
	36,788	Mirova International Sustainable Equity Fund, Class N		549,973

		Total Affiliated Mutual Funds (Identified Cost $2,558,839)		2,676,484


Principal Amount
	Short-Term Investments — 3.6%
$	342,767	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $342,767 on 8/02/2021 collateralized by $354,500 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $349,992 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $342,767)		342,767


		Total Investments — 100.6% (Identified Cost $8,452,648)		9,653,972
		Other assets less liabilities — (0.6)%		(53,835	)

		Net Assets — 100.0%	$	9,600,137


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $14,294 or 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	57.3	%
Fixed Income	39.7
Short-Term Investments	3.6

Total Investments	100.6
Other assets less liabilities	(0.6	)

Net Assets	100.0	%

See accompanying notes to financial statements.

33 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund


Shares		Description	Value (†)
	Common Stocks — 43.9% of Net Assets
		Aerospace & Defense — 0.7%
	35	Axon Enterprise, Inc.(a)	$	6,511
	201	Boeing Co. (The)(a)		45,523
	79	General Dynamics Corp.		15,486
	8	L3Harris Technologies, Inc.		1,814
	46	Moog, Inc., Class A		3,582
	95	Raytheon Technologies Corp.		8,260

				81,176

		Air Freight & Logistics — 0.3%
	172	Expeditors International of Washington, Inc.		22,059
	54	United Parcel Service, Inc., Class B		10,334

				32,393

		Airlines — 0.1%
	19	Alaska Air Group, Inc.(a)		1,102
	103	Delta Air Lines, Inc.(a)		4,110
	486	JetBlue Airways Corp.(a)		7,188

				12,400

		Auto Components — 0.1%
	15	Aptiv PLC(a)		2,503
	23	BorgWarner, Inc.		1,126
	330	Dana, Inc.		7,973
	45	Visteon Corp.(a)		5,132

				16,734

		Automobiles — 0.3%
	489	General Motors Co.(a)		27,795
	45	Thor Industries, Inc.		5,326

				33,121

		Banks — 2.0%
	236	Ameris Bancorp		11,472
	215	Bancorp, Inc. (The)(a)		5,025
	231	BancorpSouth Bank		5,960
	916	Bank of America Corp.		35,138
	494	Citigroup, Inc.		33,404
	163	Citizens Financial Group, Inc.		6,872
	11	Comerica, Inc.		755
	113	Cullen/Frost Bankers, Inc.		12,127
	60	Fifth Third Bancorp		2,177
	404	Fulton Financial Corp.		6,189
	85	Huntington Bancshares, Inc.		1,197
	200	International Bancshares Corp.		7,816
	232	KeyCorp		4,561
	11	M&T Bank Corp.		1,472
	274	People’s United Financial, Inc.		4,302
	104	PNC Financial Services Group, Inc. (The)		18,971
	273	Regions Financial Corp.		5,255
	302	Truist Financial Corp.		16,438
	309	Trustmark Corp.		9,276
	137	U.S. Bancorp		7,609
	195	Webster Financial Corp.		9,380
	501	Wells Fargo & Co.		23,016
	85	Wintrust Financial Corp.		6,069

				234,481

		Beverages — 1.2%
	256	Coca-Cola Co. (The)		14,600
	106	Constellation Brands, Inc., Class A		23,780
	1,066	Keurig Dr Pepper, Inc.		37,534
	520	Monster Beverage Corp.(a)		49,046
	93	PepsiCo, Inc.		14,596

				139,556

		Biotechnology — 1.4%
	58	AbbVie, Inc.		6,745
	170	Alnylam Pharmaceuticals, Inc.(a)		30,420
	60	Amgen, Inc.		14,493
	18	Biogen, Inc.(a)		5,881
	135	BioMarin Pharmaceutical, Inc.(a)		10,359
	153	CRISPR Therapeutics AG(a)		18,516
	42	Gilead Sciences, Inc.		2,868
	30	Ligand Pharmaceuticals, Inc.(a)		3,405
	111	Regeneron Pharmaceuticals, Inc.(a)		63,782

				156,469

		Building Products — 0.3%
	32	Carlisle Cos., Inc.		6,472
	35	Carrier Global Corp.		1,934
	32	Johnson Controls International PLC		2,286
	33	Lennox International, Inc.		10,871
	96	Owens Corning		9,231
	64	Trex Co., Inc.(a)		6,214

				37,008

		Capital Markets — 3.0%
	16	Ameriprise Financial, Inc.		4,121
	808	Bank of New York Mellon Corp. (The)		41,475
	13	BlackRock, Inc.		11,273
	500	Charles Schwab Corp. (The)		33,975
	22	CME Group, Inc.		4,667
	79	FactSet Research Systems, Inc.		28,225
	85	Franklin Resources, Inc.		2,512
	79	Goldman Sachs Group, Inc. (The)		29,616
	134	Intercontinental Exchange, Inc.		16,057
	21	Invesco Ltd.		512
	165	Janus Henderson Group PLC		6,904
	236	KKR & Co., Inc.		15,047
	36	Moody’s Corp.		13,536
	32	Morgan Stanley		3,071
	42	MSCI, Inc.		25,030
	148	Northern Trust Corp.		16,702
	50	S&P Global, Inc.		21,436
	280	SEI Investments Co.		17,024
	522	State Street Corp.		45,487
	7	T. Rowe Price Group, Inc.		1,429
	39	Virtus Investment Partners, Inc.		10,769

				348,868

		Chemicals — 0.5%
	11	Air Products & Chemicals, Inc.		3,201
	35	DuPont de Nemours, Inc.		2,627
	13	Ecolab, Inc.		2,871
	89	HB Fuller Co.		5,751
	64	Innospec, Inc.		5,661
	66	Linde PLC		20,288
	77	Minerals Technologies, Inc.		6,177
	9	PPG Industries, Inc.		1,472
	11	Sherwin-Williams Co. (The)		3,201
	41	Stepan Co.		4,836

				56,085

		Commercial Services & Supplies — 0.2%
	76	Healthcare Services Group, Inc.		1,984
	46	MSA Safety, Inc.		7,566
	9	Republic Services, Inc.		1,065
	67	Tetra Tech, Inc.		8,946
	94	Viad Corp.(a)		4,310
	19	Waste Management, Inc.		2,817

				26,688

See accompanying notes to financial statements.

| 34

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description		Value (†)
		Communications Equipment — 0.5%
	42	Arista Networks, Inc.(a)		$	15,976
	109	Ciena Corp.(a)			6,337
	537	Cisco Systems, Inc.			29,734
	9	F5 Networks, Inc.(a)			1,859
	62	Lumentum Holdings, Inc.(a)			5,207

					59,113

		Construction & Engineering — 0.1%
	207	AECOM(a)			13,033

		Consumer Finance — 1.2%
	949	Ally Financial, Inc.			48,741
	206	American Express Co.			35,129
	298	Capital One Financial Corp.			48,187
	54	Green Dot Corp., Class A(a)			2,488
	50	PROG Holdings, Inc.			2,188

					136,733

		Containers & Packaging — 0.1%
	73	Ball Corp.			5,904
	60	International Paper Co.			3,466

					9,370

		Distributors — 0.1%
	47	Genuine Parts Co.			5,965

		Diversified Telecommunication Services — 0.2%
	223	AT&T, Inc.			6,255
	1,275	Lumen Technologies, Inc.			15,899

					22,154

		Electric Utilities — 0.5%
	158	American Electric Power Co., Inc.			13,923
	223	Edison International			12,153
	39	Eversource Energy			3,365
	60	IDACORP, Inc.			6,327
	219	NextEra Energy, Inc.			17,060
	44	PPL Corp.			1,248

					54,076

		Electrical Equipment — 0.4%
	22	Acuity Brands, Inc.			3,858
	54	Eaton Corp. PLC			8,535
	42	Hubbell, Inc.			8,419
	367	Plug Power, Inc.(a)			10,012
	35	Rockwell Automation, Inc.			10,760
	64	Sunrun, Inc.(a)			3,390

					44,974

		Electronic Equipment, Instruments & Components — 0.7%
	22	Amphenol Corp., Class A			1,595
	107	Avnet, Inc.			4,421
	115	Cognex Corp.			10,397
	26	Coherent, Inc.(a)			6,394
	46	Corning, Inc.			1,926
	139	Itron, Inc.(a)			13,708
	23	Littelfuse, Inc.			6,118
	21	Rogers Corp.(a)			4,003
	147	TE Connectivity Ltd.			21,678
	194	Vishay Intertechnology, Inc.	��		4,293

					74,533

		Energy Equipment & Services — 0.3%
	865	Archrock, Inc.			7,448
	138	Baker Hughes Co.			2,931
	258	ChampionX Corp.(a)			5,996
	89	NOV, Inc.(a)			1,229
	741	Schlumberger NV			21,363

					38,967

		Entertainment — 0.9%
	43	Activision Blizzard, Inc.			3,595
	100	Cinemark Holdings, Inc.(a)			1,553
	75	Electronic Arts, Inc.			10,797
	56	Netflix, Inc.(a)			28,984
	339	Walt Disney Co. (The)(a)			59,671

					104,600

		Food & Staples Retailing — 0.2%
	84	BJ’s Wholesale Club Holdings, Inc.(a)			4,254
	4	Costco Wholesale Corp.			1,719
	91	Kroger Co. (The)			3,704
	261	SpartanNash Co.			5,076
	16	Sysco Corp.			1,187
	78	Walgreens Boots Alliance, Inc.			3,678

					19,618

		Food Products — 0.3%
	86	Campbell Soup Co.			3,760
	24	Conagra Brands, Inc.			804
	111	Darling Ingredients, Inc.(a)			7,667
	64	General Mills, Inc.			3,767
	114	Hain Celestial Group, Inc. (The)(a)			4,550
	87	Hormel Foods Corp.			4,035
	58	Ingredion, Inc.			5,093
	18	J.M. Smucker Co. (The)			2,360
	33	Kellogg Co.			2,091
	16	McCormick & Co., Inc.			1,346

					35,473

		Gas Utilities — 0.2%
	115	New Jersey Resources Corp.			4,430
	65	ONE Gas, Inc.			4,796
	129	South Jersey Industries, Inc.			3,247
	148	UGI Corp.			6,806

					19,279

		Health Care Equipment & Supplies — 0.9%
	58	Abbott Laboratories			7,017
	12	Baxter International, Inc.			928
	10	Becton Dickinson & Co.			2,557
	48	Boston Scientific Corp.(a)			2,189
	9	Cooper Cos., Inc. (The)			3,796
	26	Danaher Corp.			7,735
	19	DENTSPLY SIRONA, Inc.			1,255
	58	Edwards Lifesciences Corp.(a)			6,512
	65	Globus Medical, Inc., Class A(a)			5,406
	31	Haemonetics Corp.(a)			1,884
	60	Hill-Rom Holdings, Inc.			8,308
	32	Hologic, Inc.(a)			2,401
	18	Intuitive Surgical, Inc.(a)			17,846
	44	Medtronic PLC			5,778
	140	Meridian Bioscience, Inc.(a)			2,870
	47	Merit Medical Systems, Inc.(a)			3,294
	32	Penumbra, Inc.(a)			8,519
	17	Quidel Corp.(a)			2,405
	29	STAAR Surgical Co.(a)			3,710
	8	STERIS PLC			1,744
	11	Stryker Corp.			2,980

					99,134

		Health Care Providers & Services — 1.6%
	22	Amedisys, Inc.(a)			5,734
	28	Anthem, Inc.			10,752
	165	Centene Corp.(a)			11,321
	15	Chemed Corp.			7,140
	35	Cigna Corp.			8,032

See accompanying notes to financial statements.

35 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	220	CVS Health Corp.	$	18,119
	59	Encompass Health Corp.		4,912
	178	HCA Healthcare, Inc.		44,180
	37	Henry Schein, Inc.(a)		2,966
	71	Humana, Inc.		30,236
	28	Laboratory Corp. of America Holdings(a)		8,292
	237	MEDNAX, Inc.(a)		6,901
	102	Patterson Cos., Inc.		3,175
	43	Quest Diagnostics, Inc.		6,097
	161	Select Medical Holdings Corp.		6,352
	31	UnitedHealth Group, Inc.		12,779

				186,988

		Health Care Technology — 0.2%
	377	Allscripts Healthcare Solutions, Inc.(a)		6,439
	163	Cerner Corp.		13,104

				19,543

		Hotels, Restaurants & Leisure — 1.4%
	14	Booking Holdings, Inc.(a)		30,495
	4	Chipotle Mexican Grill, Inc.(a)		7,454
	9	Expedia Group, Inc.(a)		1,448
	184	Hilton Worldwide Holdings, Inc.(a)		24,187
	70	Jack in the Box, Inc.		7,620
	21	McDonald’s Corp.		5,097
	20	Royal Caribbean Cruises Ltd.(a)		1,537
	79	Shake Shack, Inc., Class A(a)		7,943
	114	Six Flags Entertainment Corp.(a)		4,737
	265	Starbucks Corp.		32,179
	234	Wendy’s Co. (The)		5,431
	266	Yum China Holdings, Inc.		16,542
	94	Yum! Brands, Inc.		12,351

				157,021

		Household Durables — 0.3%
	183	KB Home		7,766
	139	Meritage Homes Corp.(a)		15,093
	250	Taylor Morrison Home Corp.(a)		6,705

				29,564

		Household Products — 0.4%
	9	Clorox Co. (The)		1,628
	260	Colgate-Palmolive Co.		20,670
	140	Kimberly-Clark Corp.		19,001

				41,299

		Independent Power & Renewable Electricity Producers — 0.2%
	100	AES Corp. (The)		2,370
	183	NextEra Energy Partners LP		14,188
	78	Ormat Technologies, Inc.		5,440
	123	Sunnova Energy International, Inc.(a)		4,686

				26,684

		Industrial Conglomerates — 0.2%
	1,716	General Electric Co.		22,222
	10	Honeywell International, Inc.		2,338

				24,560

		Insurance — 1.2%
	35	Aflac, Inc.		1,925
	47	Allstate Corp. (The)		6,112
	517	American International Group, Inc.		24,480
	86	Chubb Ltd.		14,512
	107	First American Financial Corp.		7,202
	40	Hanover Insurance Group, Inc. (The)		5,436
	146	Hartford Financial Services Group, Inc. (The)		9,289
	18	Lincoln National Corp.		1,109
		Insurance — continued
	50	Marsh & McLennan Cos., Inc.		7,361
	323	MetLife, Inc.		18,637
	76	Prudential Financial, Inc.		7,621
	268	Reinsurance Group of America, Inc.		29,528
	38	Travelers Cos., Inc. (The)		5,659

				138,871

		Interactive Media & Services — 2.4%
	27	Alphabet, Inc., Class A(a)		72,752
	32	Alphabet, Inc., Class C(a)		86,542
	314	Facebook, Inc., Class A(a)		111,878

				271,172

		Internet & Direct Marketing Retail — 1.6%
	240	Alibaba Group Holding Ltd., Sponsored ADR(a)		46,846
	24	Amazon.com, Inc.(a)		79,862
	654	eBay, Inc.		44,610
	8	Etsy, Inc.(a)		1,468
	712	Qurate Retail, Inc., Class A		8,444

				181,230

		IT Services — 2.5%
	65	Accenture PLC, Class A		20,649
	117	Akamai Technologies, Inc.(a)		14,031
	164	Automatic Data Processing, Inc.		34,379
	62	Cognizant Technology Solutions Corp., Class A		4,559
	681	DXC Technology Co.(a)		27,227
	225	Fiserv, Inc.(a)		25,900
	119	Gartner, Inc.(a)		31,503
	98	MasterCard, Inc., Class A		37,822
	32	Paychex, Inc.		3,642
	17	VeriSign, Inc.(a)		3,678
	311	Visa, Inc., Class A		76,627
	31	WEX, Inc.(a)		5,882

				285,899

		Leisure Products — 0.0%
	133	Callaway Golf Co.(a)		4,213

		Life Sciences Tools & Services — 0.7%
	26	Agilent Technologies, Inc.		3,984
	23	Bio-Techne Corp.		11,092
	73	Illumina, Inc.(a)		36,190
	130	NeoGenomics, Inc.(a)		5,993
	59	Repligen Corp.(a)		14,496
	13	Thermo Fisher Scientific, Inc.		7,020
	9	Waters Corp.(a)		3,508

				82,283

		Machinery — 1.3%
	75	AGCO Corp.		9,908
	86	Caterpillar, Inc.		17,781
	44	Chart Industries, Inc.(a)		6,840
	70	Cummins, Inc.		16,247
	137	Deere & Co.		49,538
	17	Illinois Tool Works, Inc.		3,853
	101	ITT, Inc.		9,889
	122	Kennametal, Inc.		4,423
	80	Oshkosh Corp.		9,564
	20	Parker-Hannifin Corp.		6,241
	23	Proto Labs, Inc.(a)		1,798
	95	Terex Corp.		4,552
	88	Toro Co. (The)		10,009

				150,643

		Media — 1.0%
	6	Cable One, Inc.		11,328
	47	Charter Communications, Inc., Class A(a)		34,970

See accompanying notes to financial statements.

| 36

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	840	Comcast Corp., Class A	$	49,417
	129	Discovery, Inc., Series A(a)		3,742
	31	Discovery, Inc., Series C(a)		841
	89	Fox Corp., Class A		3,174
	59	Interpublic Group of Cos., Inc. (The)		2,086
	104	New York Times Co. (The), Class A		4,553
	72	News Corp., Class A		1,773
	102	Omnicom Group, Inc.		7,428
				��
				119,312

		Metals & Mining — 0.3%
	330	Cleveland-Cliffs, Inc.(a)		8,250
	187	Commercial Metals Co.		6,134
	16	Nucor Corp.		1,664
	80	Reliance Steel & Aluminum Co.		12,572
	52	Royal Gold, Inc.		6,319

				34,939

		Multi-Utilities — 0.2%
	89	Consolidated Edison, Inc.		6,566
	36	DTE Energy Co.		4,223
	40	Sempra Energy		5,226
	24	WEC Energy Group, Inc.		2,259

				18,274

		Multiline Retail — 0.2%
	466	Macy’s, Inc.(a)		7,922
	50	Target Corp.		13,053

				20,975

		Oil, Gas & Consumable Fuels — 1.0%
	1,023	APA Corp.		19,181
	349	ConocoPhillips		19,565
	107	Devon Energy Corp.		2,765
	186	Diamondback Energy, Inc.		14,346
	18	DTE Midstream LLC(a)		763
	436	EOG Resources, Inc.		31,767
	183	EQT Corp.(a)		3,365
	231	Kinder Morgan, Inc.		4,015
	415	Marathon Oil Corp.		4,810
	93	ONEOK, Inc.		4,833
	557	Southwestern Energy Co.(a)		2,624
	67	Valero Energy Corp.		4,487
	92	World Fuel Services Corp.		3,170

				115,691

		Paper & Forest Products — 0.1%
	135	Louisiana-Pacific Corp.		7,484

		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		1,335

		Pharmaceuticals — 1.1%
	78	Bristol-Myers Squibb Co.		5,294
	39	Eli Lilly & Co.		9,497
	44	Jazz Pharmaceuticals PLC(a)		7,459
	256	Merck & Co., Inc.		19,679
	332	Novartis AG, Sponsored ADR		30,673
	112	Novo Nordisk A/S, Sponsored ADR		10,371
	25	Organon & Co.(a)		725
	41	Perrigo Co. PLC		1,969
	187	Pfizer, Inc.		8,005
	589	Roche Holding AG, Sponsored ADR		28,425
	8	Zoetis, Inc.		1,622

				123,719

		Professional Services — 0.2%
	82	Exponent, Inc.		8,781
		Professional Services — continued
	10	IHS Markit Ltd.		1,168
	30	Insperity, Inc.		2,972
	80	Korn Ferry		5,499
	48	ManpowerGroup, Inc.		5,692
	32	Nielsen Holdings PLC		758

				24,870

		Real Estate Management & Development — 0.2%
	143	CBRE Group, Inc., Class A(a)		13,794
	41	Jones Lang LaSalle, Inc.(a)		9,125

				22,919

		REITs – Apartments — 0.2%
	148	American Campus Communities, Inc.		7,446
	100	Camden Property Trust		14,939
	40	Equity Residential		3,365

				25,750

		REITs – Diversified — 0.2%
	51	American Tower Corp.		14,423
	10	Crown Castle International Corp.		1,931
	74	CyrusOne, Inc.		5,274
	78	Weyerhaeuser Co.		2,631

				24,259

		REITs – Health Care — 0.0%
	42	Ventas, Inc.		2,511
	17	Welltower, Inc.		1,476

				3,987

		REITs – Hotels — 0.0%
	127	Host Hotels & Resorts, Inc.(a)		2,023

		REITs – Mortgage — 0.1%
	194	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		11,019

		REITs – Office Property — 0.3%
	7	Boston Properties, Inc.		822
	226	Corporate Office Properties Trust		6,653
	252	Douglas Emmett, Inc.		8,417
	341	Easterly Government Properties, Inc.		7,741
	112	Kilroy Realty Corp.		7,758

				31,391

		REITs – Shopping Centers — 0.1%
	608	Brixmor Property Group, Inc.		13,996

		REITs – Storage — 0.0%
	25	Iron Mountain, Inc.		1,094

		REITs – Warehouse/Industrials — 0.1%
	88	ProLogis, Inc.		11,268

		Road & Rail — 0.2%
	105	CSX Corp.		3,394
	42	Norfolk Southern Corp.		10,829
	63	Ryder System, Inc.		4,797
	29	Union Pacific Corp.		6,344

				25,364

		Semiconductors & Semiconductor Equipment — 2.3%
	53	Advanced Micro Devices, Inc.(a)		5,628
	26	Analog Devices, Inc.		4,353
	40	Applied Materials, Inc.		5,597
	87	Cirrus Logic, Inc.(a)		7,185
	145	Cree, Inc.(a)		13,450
	47	Enphase Energy, Inc.(a)		8,911
	178	First Solar, Inc.(a)		15,315
	115	Ichor Holdings Ltd.(a)		5,931

See accompanying notes to financial statements.

37 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	191	Intel Corp.	$	10,261
	8	Lam Research Corp.		5,099
	42	Micron Technology, Inc.(a)		3,258
	536	NVIDIA Corp.		104,515
	6	NXP Semiconductors NV		1,238
	222	QUALCOMM, Inc.		33,256
	65	Silicon Laboratories, Inc.(a)		9,684
	78	Texas Instruments, Inc.		14,869
	37	Universal Display Corp.		8,676
	9	Xilinx, Inc.		1,349

				258,575

		Software — 3.2%
	38	Adobe, Inc.(a)		23,622
	36	ANSYS, Inc.(a)		13,265
	184	Autodesk, Inc.(a)		59,088
	49	Blackbaud, Inc.(a)		3,495
	67	Bottomline Technologies, Inc.(a)		2,704
	13	Citrix Systems, Inc.		1,310
	99	CommVault Systems, Inc.(a)		7,483
	23	Fair Isaac Corp.(a)		12,050
	236	Microsoft Corp.		67,239
	40	NortonLifeLock, Inc.		993
	718	Oracle Corp.		62,566
	43	Paylocity Holding Corp.(a)		8,921
	42	Qualys, Inc.(a)		4,266
	179	salesforce.com, Inc.(a)		43,305
	70	SPS Commerce, Inc.(a)		7,626
	208	Workday, Inc., Class A(a)		48,755

				366,688

		Specialty Retail — 0.9%
	154	American Eagle Outfitters, Inc.		5,308
	57	Asbury Automotive Group, Inc.(a)		11,711
	4	AutoZone, Inc.(a)		6,494
	29	Best Buy Co., Inc.		3,258
	67	Boot Barn Holdings, Inc.(a)		5,790
	26	Five Below, Inc.(a)		5,055
	18	GameStop Corp., Class A(a)		2,900
	60	Gap, Inc. (The)		1,750
	84	Home Depot, Inc. (The)		27,568
	34	Lithia Motors, Inc.		12,826
	17	Lowe’s Cos., Inc.		3,276
	41	Monro, Inc.		2,378
	17	TJX Cos., Inc. (The)		1,170
	10	Ulta Beauty, Inc.(a)		3,358
	55	Williams-Sonoma, Inc.		8,344

				101,186

		Technology Hardware, Storage & Peripherals — 0.4%
	1,275	Hewlett Packard Enterprise Co.		18,487
	791	HP, Inc.		22,836
	144	NCR Corp.(a)		6,394
	20	Seagate Technology Holdings PLC		1,758

				49,475

		Textiles, Apparel & Luxury Goods — 0.4%
	33	Deckers Outdoor Corp.(a)		13,558
	1,048	Under Armour, Inc., Class A(a)		21,432
	83	VF Corp.		6,657
	125	Wolverine World Wide, Inc.		4,192

				45,839

		Thrifts & Mortgage Finance — 0.1%
	188	Mr. Cooper Group, Inc.(a)		6,990

		Trading Companies & Distributors — 0.0%
	40	GATX Corp.		3,690

		Water Utilities — 0.2%
	49	American Water Works Co., Inc.		8,335
	316	Essential Utilities, Inc.		15,522

				23,857

		Wireless Telecommunication Services — 0.2%
	96	Shenandoah Telecommunications Co.		5,068
	86	T-Mobile US, Inc.(a)		12,386

				17,454

		Total Common Stocks (Identified Cost $3,885,999)		5,025,394


Principal Amount
	Bonds and Notes — 14.2%
		Automotive — 0.3%
$	12,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		13,592
	4,000	Lear Corp., 4.250%, 5/15/2029		4,606
	11,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		11,116

				29,314

		Banking — 2.0%
	15,000	American Express Co., 3.700%, 8/03/2023		15,954
	13,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		13,164
	11,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		11,012
	12,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		12,929
	7,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		7,495
	12,000	Citigroup, Inc., 4.600%, 3/09/2026		13,745
	5,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		5,095
	13,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		14,241
	13,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		13,796
	14,000	KeyCorp, MTN, 2.550%, 10/01/2029		14,849
	7,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		7,738
	6,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		7,051
	14,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		15,018
	7,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		7,392
	7,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		7,492
	10,000	State Street Corp., 2.400%, 1/24/2030		10,620
	14,000	Truist Bank, 3.200%, 4/01/2024		14,976
	14,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		15,007
	15,000	Westpac Banking Corp., 2.350%, 2/19/2025		15,829

				223,403

		Brokerage — 0.3%
	14,000	BlackRock, Inc., 2.400%, 4/30/2030		14,900
	19,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		19,227

				34,127

		Chemicals — 0.0%
	4,000	LYB International Finance BV, 5.250%, 7/15/2043		5,298

		Construction Machinery — 0.2%
	16,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		16,112
	8,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		8,082

				24,194

		Consumer Cyclical Services — 0.1%
	13,000	eBay, Inc., 3.800%, 3/09/2022		13,229

See accompanying notes to financial statements.

| 38

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — 0.7%
$	13,000	Duke Energy Corp., 3.750%, 4/15/2024	$	13,998
	16,000	Entergy Corp., 0.900%, 9/15/2025		15,913
	8,000	Exelon Corp., 4.050%, 4/15/2030		9,246
	15,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		15,409
	11,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		11,739
	5,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		5,478
	13,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		14,260

				86,043

		Finance Companies — 0.1%
	8,000	Ares Capital Corp., 3.250%, 7/15/2025		8,481

		Financial Other — 0.1%
	13,000	ORIX Corp., 2.900%, 7/18/2022		13,324

		Food & Beverage — 0.4%
	15,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		15,318
	15,000	General Mills, Inc., 4.000%, 4/17/2025		16,627
	14,000	Mondelez International, Inc., 2.750%, 4/13/2030		14,939

				46,884

		Government Owned – No Guarantee — 0.3%
	21,000	Federal National Mortgage Association, 6.625%, 11/15/2030		30,711

		Health Insurance — 0.3%
	13,000	Anthem, Inc., 4.101%, 3/01/2028		14,982
	10,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		14,317

				29,299

		Healthcare — 0.3%
	3,000	Cigna Corp., 3.750%, 7/15/2023		3,186
	10,000	CVS Health Corp., 4.300%, 3/25/2028		11,579
	8,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		8,367
	7,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		7,523

				30,655

		Independent Energy — 0.1%
	12,000	EQT Corp., 3.000%, 10/01/2022		12,165

		Integrated Energy — 0.4%
	12,000	BP Capital Markets PLC, 3.814%, 2/10/2024		12,958
	15,000	Exxon Mobil Corp., 2.992%, 3/19/2025		16,105
	10,000	Shell International Finance BV, 6.375%, 12/15/2038		14,910

				43,973

		Life Insurance — 0.1%
	4,000	Athene Holding Ltd., 6.150%, 4/03/2030		5,134
	5,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		5,522

				10,656

		Media Entertainment — 0.1%
	10,000	ViacomCBS, Inc., 4.750%, 5/15/2025		11,332

		Midstream — 0.1%
	13,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		14,007

		Mortgage Related — 2.3%
	3,424	FHLMC, 3.000%, 6/01/2049		3,585
	86,584	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		88,354
	82,241	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		85,730
	54,155	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		56,859
	18,781	FNMA, 3.500%, with various maturities in 2049(b)		19,885
	4,700	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		5,017
		Mortgage Related — continued
	4,796	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		5,174

				264,604

		Natural Gas — 0.1%
	16,000	NiSource, Inc., 0.950%, 8/15/2025		15,913

		Pharmaceuticals — 0.5%
	14,000	AbbVie, Inc., 3.600%, 5/14/2025		15,296
	11,000	Amgen, Inc., 2.650%, 5/11/2022		11,183
	7,000	Biogen, Inc., 2.250%, 5/01/2030		7,130
	15,000	Johnson & Johnson, 1.300%, 9/01/2030		14,796
	5,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		5,451

				53,856

		Property & Casualty Insurance — 0.2%
	13,000	American International Group, Inc., 3.400%, 6/30/2030		14,361
	4,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		4,373

				18,734

		Railroads — 0.1%
	14,000	CSX Corp., 2.600%, 11/01/2026		14,966

		REITs – Apartments — 0.1%
	8,000	Essex Portfolio LP, 3.000%, 1/15/2030		8,561

		REITs – Health Care — 0.1%
	8,000	Welltower, Inc., 2.800%, 6/01/2031		8,456

		REITs – Office Property — 0.1%
	7,000	Boston Properties LP, 2.750%, 10/01/2026		7,510

		REITs – Retail — 0.1%
	5,000	Spirit Realty LP, 2.700%, 2/15/2032		5,063
	4,000	VEREIT Operating Partnership LP, 3.400%, 1/15/2028		4,413

				9,476

		Restaurants — 0.1%
	15,000	Starbucks Corp., 2.250%, 3/12/2030		15,432

		Retailers — 0.1%
	9,000	Amazon.com, Inc., 3.875%, 8/22/2037		10,908

		Technology — 0.9%
	13,000	Apple, Inc., 2.500%, 2/09/2025		13,778
	8,000	Broadcom, Inc., 4.110%, 9/15/2028		9,028
	8,000	HP, Inc., 3.000%, 6/17/2027		8,636
	8,000	Intel Corp., 2.450%, 11/15/2029		8,431
	14,000	International Business Machines Corp., 4.000%, 6/20/2042		16,640
	7,000	NVIDIA Corp., 2.850%, 4/01/2030		7,654
	14,000	Oracle Corp., 2.950%, 5/15/2025		14,942
	15,000	QUALCOMM, Inc., 1.650%, 5/20/2032		14,633
	12,000	VMware, Inc., 2.950%, 8/21/2022		12,289

				106,031

		Treasuries — 3.1%
	16,000	U.S. Treasury Bond, 2.250%, 5/15/2041		17,188
	14,000	U.S. Treasury Bond, 2.500%, 5/15/2046		15,707
	34,000	U.S. Treasury Bond, 2.875%, 11/15/2046		40,835
	38,000	U.S. Treasury Bond, 3.000%, 5/15/2045		46,287
	19,000	U.S. Treasury Bond, 3.000%, 2/15/2048		23,440
	33,000	U.S. Treasury Bond, 3.000%, 2/15/2049		40,903
	56,000	U.S. Treasury Note, 0.375%, 11/30/2025		55,464
	32,000	U.S. Treasury Note, 1.625%, 8/31/2022		32,527
	79,000	U.S. Treasury Note, 2.125%, 12/31/2022		81,225

				353,576

		Utility Other — 0.1%
	9,000	Essential Utilities, Inc., 4.276%, 5/01/2049		11,048

See accompanying notes to financial statements.

39 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Principal Amount		Description	Value (†)
		Wireless — 0.1%
$	12,000	Vodafone Group PLC, 6.150%, 2/27/2037	$	16,791

		Wirelines — 0.3%
	7,000	AT&T, Inc., 3.650%, 6/01/2051		7,419
	7,000	AT&T, Inc., 5.250%, 3/01/2037		8,895
	19,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		19,549

				35,863

		Total Bonds and Notes (Identified Cost $1,589,053)		1,618,820


Shares
	Exchange-Traded Funds — 6.9%
	9,940	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $677,884)		790,826


	Mutual Funds — 7.8%
	16,892	WCM Focused Emerging Markets Fund, Institutional Class		339,531
	19,567	WCM Focused International Growth Fund, Institutional Class		550,028

		Total Mutual Funds (Identified Cost $752,973)		889,559


	Affiliated Mutual Funds — 23.9%
	47,210	Loomis Sayles Inflation Protected Securities Fund, Class N		579,734
	51,841	Loomis Sayles Limited Term Government and Agency Fund, Class N		595,650
	72,012	Mirova Global Green Bond Fund, Class N		764,765
	53,287	Mirova International Sustainable Equity Fund, Class N		796,636

		Total Affiliated Mutual Funds (Identified Cost $2,570,594)		2,736,785


Principal Amount
	Short-Term Investments — 3.6%
$	415,609	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $415,609 on 8/02/2021 collateralized by $429,700 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $424,235 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $415,609)		415,609


		Total Investments — 100.3% (Identified Cost $9,892,112)		11,476,993
		Other assets less liabilities — (0.3)%		(39,948	)

		Net Assets — 100.0%	$	11,437,045


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $13,189 or 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	65.5	%
Fixed Income	31.2
Short-Term Investments	3.6

Total Investments	100.3
Other assets less liabilities	(0.3	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 40

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund


Shares		Description	Value (†)
	Common Stocks — 50.7% of Net Assets
		Aerospace & Defense — 0.8%
	34	Axon Enterprise, Inc.(a)	$	6,325
	195	Boeing Co. (The)(a)		44,164
	79	General Dynamics Corp.		15,486
	6	L3Harris Technologies, Inc.		1,360
	48	Moog, Inc., Class A		3,738
	91	Raytheon Technologies Corp.		7,912

				78,985

		Air Freight & Logistics — 0.3%
	175	Expeditors International of Washington, Inc.		22,444
	48	United Parcel Service, Inc., Class B		9,185

				31,629

		Airlines — 0.1%
	18	Alaska Air Group, Inc.(a)		1,045
	98	Delta Air Lines, Inc.(a)		3,910
	498	JetBlue Airways Corp.(a)		7,365

				12,320

		Auto Components — 0.2%
	14	Aptiv PLC(a)		2,336
	24	BorgWarner, Inc.		1,176
	338	Dana, Inc.		8,166
	45	Visteon Corp.(a)		5,132

				16,810

		Automobiles — 0.3%
	492	General Motors Co.(a)		27,965
	47	Thor Industries, Inc.		5,563

				33,528

		Banks — 2.4%
	241	Ameris Bancorp		11,715
	224	Bancorp, Inc. (The)(a)		5,235
	233	BancorpSouth Bank		6,011
	887	Bank of America Corp.		34,025
	497	Citigroup, Inc.		33,607
	170	Citizens Financial Group, Inc.		7,167
	14	Comerica, Inc.		961
	113	Cullen/Frost Bankers, Inc.		12,127
	74	Fifth Third Bancorp		2,685
	408	Fulton Financial Corp.		6,251
	115	Huntington Bancshares, Inc.		1,619
	207	International Bancshares Corp.		8,090
	247	KeyCorp		4,856
	14	M&T Bank Corp.		1,874
	261	People’s United Financial, Inc.		4,098
	95	PNC Financial Services Group, Inc. (The)		17,329
	285	Regions Financial Corp.		5,486
	298	Truist Financial Corp.		16,220
	320	Trustmark Corp.		9,606
	142	U.S. Bancorp		7,887
	195	Webster Financial Corp.		9,380
	504	Wells Fargo & Co.		23,154
	87	Wintrust Financial Corp.		6,212

				235,595

		Beverages — 1.4%
	234	Coca-Cola Co. (The)		13,345
	107	Constellation Brands, Inc., Class A		24,005
	1,053	Keurig Dr Pepper, Inc.		37,076
	513	Monster Beverage Corp.(a)		48,386
	84	PepsiCo, Inc.		13,184

				135,996

		Biotechnology — 1.6%
	58	AbbVie, Inc.		6,746
	174	Alnylam Pharmaceuticals, Inc.(a)		31,136
	55	Amgen, Inc.		13,285
	18	Biogen, Inc.(a)		5,881
	129	BioMarin Pharmaceutical, Inc.(a)		9,898
	158	CRISPR Therapeutics AG(a)		19,121
	45	Gilead Sciences, Inc.		3,073
	30	Ligand Pharmaceuticals, Inc.(a)		3,405
	105	Regeneron Pharmaceuticals, Inc.(a)		60,334

				152,879

		Building Products — 0.4%
	33	Carlisle Cos., Inc.		6,674
	45	Carrier Global Corp.		2,486
	41	Johnson Controls International PLC		2,928
	33	Lennox International, Inc.		10,871
	100	Owens Corning		9,616
	65	Trex Co., Inc.(a)		6,312

				38,887

		Capital Markets — 3.5%
	14	Ameriprise Financial, Inc.		3,606
	804	Bank of New York Mellon Corp. (The)		41,269
	11	BlackRock, Inc.		9,539
	501	Charles Schwab Corp. (The)		34,043
	20	CME Group, Inc.		4,243
	72	FactSet Research Systems, Inc.		25,724
	81	Franklin Resources, Inc.		2,394
	79	Goldman Sachs Group, Inc. (The)		29,616
	135	Intercontinental Exchange, Inc.		16,177
	25	Invesco Ltd.		610
	166	Janus Henderson Group PLC		6,945
	240	KKR & Co., Inc.		15,302
	36	Moody’s Corp.		13,536
	31	Morgan Stanley		2,975
	41	MSCI, Inc.		24,434
	149	Northern Trust Corp.		16,815
	50	S&P Global, Inc.		21,436
	283	SEI Investments Co.		17,206
	520	State Street Corp.		45,313
	8	T. Rowe Price Group, Inc.		1,633
	40	Virtus Investment Partners, Inc.		11,045

				343,861

		Chemicals — 0.6%
	10	Air Products & Chemicals, Inc.		2,910
	35	DuPont de Nemours, Inc.		2,627
	12	Ecolab, Inc.		2,650
	90	HB Fuller Co.		5,816
	66	Innospec, Inc.		5,838
	60	Linde PLC		18,443
	75	Minerals Technologies, Inc.		6,017
	12	PPG Industries, Inc.		1,962
	10	Sherwin-Williams Co. (The)		2,910
	43	Stepan Co.		5,072

				54,245

		Commercial Services & Supplies — 0.3%
	74	Healthcare Services Group, Inc.		1,932
	46	MSA Safety, Inc.		7,566
	8	Republic Services, Inc.		947
	68	Tetra Tech, Inc.		9,079
	98	Viad Corp.(a)		4,493
	18	Waste Management, Inc.		2,669

				26,686

See accompanying notes to financial statements.

41 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.6%
	43	Arista Networks, Inc.(a)	$	16,357
	110	Ciena Corp.(a)		6,396
	544	Cisco Systems, Inc.		30,121
	8	F5 Networks, Inc.(a)		1,652
	62	Lumentum Holdings, Inc.(a)		5,207

				59,733

		Construction & Engineering — 0.1%
	208	AECOM(a)		13,096

		Consumer Finance — 1.4%
	919	Ally Financial, Inc.		47,200
	200	American Express Co.		34,106
	300	Capital One Financial Corp.		48,510
	59	Green Dot Corp., Class A(a)		2,718
	53	PROG Holdings, Inc.		2,320

				134,854

		Containers & Packaging — 0.1%
	70	Ball Corp.		5,662
	56	International Paper Co.		3,234

				8,896

		Distributors — 0.1%
	45	Genuine Parts Co.		5,711

		Diversified Telecommunication Services — 0.2%
	224	AT&T, Inc.		6,283
	1,280	Lumen Technologies, Inc.		15,962

				22,245

		Electric Utilities — 0.5%
	144	American Electric Power Co., Inc.		12,689
	229	Edison International		12,481
	38	Eversource Energy		3,278
	61	IDACORP, Inc.		6,432
	219	NextEra Energy, Inc.		17,060
	48	PPL Corp.		1,362

				53,302

		Electrical Equipment — 0.5%
	24	Acuity Brands, Inc.		4,209
	55	Eaton Corp. PLC		8,693
	43	Hubbell, Inc.		8,620
	359	Plug Power, Inc.(a)		9,793
	35	Rockwell Automation, Inc.		10,760
	70	Sunrun, Inc.(a)		3,708

				45,783

		Electronic Equipment, Instruments & Components — 0.8%
	28	Amphenol Corp., Class A		2,030
	116	Avnet, Inc.		4,793
	120	Cognex Corp.		10,849
	26	Coherent, Inc.(a)		6,394
	46	Corning, Inc.		1,926
	144	Itron, Inc.(a)		14,201
	23	Littelfuse, Inc.		6,118
	22	Rogers Corp.(a)		4,193
	148	TE Connectivity Ltd.		21,826
	209	Vishay Intertechnology, Inc.		4,625

				76,955

		Energy Equipment & Services — 0.4%
	892	Archrock, Inc.		7,680
	131	Baker Hughes Co.		2,783
	268	ChampionX Corp.(a)		6,228
	87	NOV, Inc.(a)		1,202
	704	Schlumberger NV		20,296

				38,189

		Entertainment — 1.0%
	43	Activision Blizzard, Inc.		3,596
	100	Cinemark Holdings, Inc.(a)		1,553
	74	Electronic Arts, Inc.		10,653
	55	Netflix, Inc.(a)		28,466
	322	Walt Disney Co. (The)(a)		56,679

				100,947

		Food & Staples Retailing — 0.2%
	87	BJ’s Wholesale Club Holdings, Inc.(a)		4,406
	4	Costco Wholesale Corp.		1,719
	86	Kroger Co. (The)		3,500
	282	SpartanNash Co.		5,485
	20	Sysco Corp.		1,484
	74	Walgreens Boots Alliance, Inc.		3,489

				20,083

		Food Products — 0.4%
	82	Campbell Soup Co.		3,585
	26	Conagra Brands, Inc.		871
	111	Darling Ingredients, Inc.(a)		7,667
	61	General Mills, Inc.		3,590
	121	Hain Celestial Group, Inc. (The)(a)		4,829
	82	Hormel Foods Corp.		3,803
	61	Ingredion, Inc.		5,356
	18	J.M. Smucker Co. (The)		2,360
	30	Kellogg Co.		1,901
	17	McCormick & Co., Inc.		1,431

				35,393

		Gas Utilities — 0.2%
	124	New Jersey Resources Corp.		4,776
	72	ONE Gas, Inc.		5,312
	136	South Jersey Industries, Inc.		3,423
	150	UGI Corp.		6,899

				20,410

		Health Care Equipment & Supplies — 1.0%
	60	Abbott Laboratories		7,259
	11	Baxter International, Inc.		851
	10	Becton Dickinson & Co.		2,558
	49	Boston Scientific Corp.(a)		2,234
	8	Cooper Cos., Inc. (The)		3,374
	27	Danaher Corp.		8,032
	16	DENTSPLY SIRONA, Inc.		1,057
	59	Edwards Lifesciences Corp.(a)		6,624
	65	Globus Medical, Inc., Class A(a)		5,406
	33	Haemonetics Corp.(a)		2,006
	62	Hill-Rom Holdings, Inc.		8,585
	28	Hologic, Inc.(a)		2,101
	18	Intuitive Surgical, Inc.(a)		17,846
	46	Medtronic PLC		6,040
	151	Meridian Bioscience, Inc.(a)		3,096
	50	Merit Medical Systems, Inc.(a)		3,504
	32	Penumbra, Inc.(a)		8,519
	19	Quidel Corp.(a)		2,688
	30	STAAR Surgical Co.(a)		3,838
	6	STERIS PLC		1,308
	11	Stryker Corp.		2,980

				99,906

		Health Care Providers & Services — 1.9%
	22	Amedisys, Inc.(a)		5,734
	26	Anthem, Inc.		9,984
	161	Centene Corp.(a)		11,046
	15	Chemed Corp.		7,140
	35	Cigna Corp.		8,032

See accompanying notes to financial statements.

| 42

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	221	CVS Health Corp.	$	18,202
	59	Encompass Health Corp.		4,912
	176	HCA Healthcare, Inc.		43,683
	37	Henry Schein, Inc.(a)		2,965
	71	Humana, Inc.		30,236
	26	Laboratory Corp. of America Holdings(a)		7,700
	247	MEDNAX, Inc.(a)		7,193
	107	Patterson Cos., Inc.		3,331
	41	Quest Diagnostics, Inc.		5,814
	167	Select Medical Holdings Corp.		6,588
	31	UnitedHealth Group, Inc.		12,779

				185,339

		Health Care Technology — 0.2%
	392	Allscripts Healthcare Solutions, Inc.(a)		6,695
	164	Cerner Corp.		13,184

				19,879

		Hotels, Restaurants & Leisure — 1.6%
	15	Booking Holdings, Inc.(a)		32,674
	3	Chipotle Mexican Grill, Inc.(a)		5,590
	12	Expedia Group, Inc.(a)		1,931
	185	Hilton Worldwide Holdings, Inc.(a)		24,318
	73	Jack in the Box, Inc.		7,947
	20	McDonald’s Corp.		4,854
	25	Royal Caribbean Cruises Ltd.(a)		1,922
	82	Shake Shack, Inc., Class A(a)		8,244
	118	Six Flags Entertainment Corp.(a)		4,903
	277	Starbucks Corp.		33,636
	233	Wendy’s Co. (The)		5,408
	286	Yum China Holdings, Inc.		17,786
	96	Yum! Brands, Inc.		12,614

				161,827

		Household Durables — 0.3%
	187	KB Home		7,936
	140	Meritage Homes Corp.(a)		15,201
	252	Taylor Morrison Home Corp.(a)		6,759

				29,896

		Household Products — 0.4%
	9	Clorox Co. (The)		1,628
	256	Colgate-Palmolive Co.		20,352
	137	Kimberly-Clark Corp.		18,594

				40,574

		Independent Power & Renewable Electricity Producers — 0.3%
	100	AES Corp. (The)		2,370
	190	NextEra Energy Partners LP		14,730
	78	Ormat Technologies, Inc.		5,440
	128	Sunnova Energy International, Inc.(a)		4,877

				27,417

		Industrial Conglomerates — 0.2%
	1,727	General Electric Co.		22,365
	10	Honeywell International, Inc.		2,338

				24,703

		Insurance — 1.4%
	34	Aflac, Inc.		1,870
	44	Allstate Corp. (The)		5,722
	520	American International Group, Inc.		24,622
	78	Chubb Ltd.		13,162
	108	First American Financial Corp.		7,269
	40	Hanover Insurance Group, Inc. (The)		5,436
	151	Hartford Financial Services Group, Inc. (The)		9,607
	15	Lincoln National Corp.		924
		Insurance — continued
	53	Marsh & McLennan Cos., Inc.		7,803
	320	MetLife, Inc.		18,464
	71	Prudential Financial, Inc.		7,120
	271	Reinsurance Group of America, Inc.		29,859
	35	Travelers Cos., Inc. (The)		5,212

				137,070

		Interactive Media & Services — 2.8%
	27	Alphabet, Inc., Class A(a)		72,752
	32	Alphabet, Inc., Class C(a)		86,541
	315	Facebook, Inc., Class A(a)		112,235

				271,528

		Internet & Direct Marketing Retail — 1.8%
	228	Alibaba Group Holding Ltd., Sponsored ADR(a)		44,503
	23	Amazon.com, Inc.(a)		76,535
	652	eBay, Inc.		44,473
	8	Etsy, Inc.(a)		1,468
	725	Qurate Retail, Inc., Class A		8,598

				175,577

		IT Services — 2.9%
	65	Accenture PLC, Class A		20,649
	121	Akamai Technologies, Inc.(a)		14,510
	157	Automatic Data Processing, Inc.		32,912
	59	Cognizant Technology Solutions Corp., Class A		4,338
	685	DXC Technology Co.(a)		27,386
	227	Fiserv, Inc.(a)		26,130
	120	Gartner, Inc.(a)		31,768
	97	MasterCard, Inc., Class A		37,436
	31	Paychex, Inc.		3,529
	16	VeriSign, Inc.(a)		3,462
	306	Visa, Inc., Class A		75,395
	32	WEX, Inc.(a)		6,072

				283,587

		Leisure Products — 0.0%
	143	Callaway Golf Co.(a)		4,530

		Life Sciences Tools & Services — 0.8%
��	25	Agilent Technologies, Inc.		3,831
	22	Bio-Techne Corp.		10,609
	66	Illumina, Inc.(a)		32,720
	131	NeoGenomics, Inc.(a)		6,039
	59	Repligen Corp.(a)		14,496
	12	Thermo Fisher Scientific, Inc.		6,480
	9	Waters Corp.(a)		3,508

				77,683

		Machinery — 1.5%
	78	AGCO Corp.		10,305
	79	Caterpillar, Inc.		16,333
	44	Chart Industries, Inc.(a)		6,840
	71	Cummins, Inc.		16,479
	123	Deere & Co.		44,475
	14	Illinois Tool Works, Inc.		3,173
	104	ITT, Inc.		10,183
	132	Kennametal, Inc.		4,785
	82	Oshkosh Corp.		9,803
	20	Parker-Hannifin Corp.		6,241
	25	Proto Labs, Inc.(a)		1,955
	103	Terex Corp.		4,936
	91	Toro Co. (The)		10,350

				145,858

		Media — 1.2%
	5	Cable One, Inc.		9,440

See accompanying notes to financial statements.

43 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	48	Charter Communications, Inc., Class A(a)	$	35,715
	836	Comcast Corp., Class A		49,182
	136	Discovery, Inc., Series A(a)		3,945
	26	Discovery, Inc., Series C(a)		705
	90	Fox Corp., Class A		3,209
	74	Interpublic Group of Cos., Inc. (The)		2,617
	113	New York Times Co. (The), Class A		4,947
	91	News Corp., Class A		2,241
	105	Omnicom Group, Inc.		7,646

				119,647

		Metals & Mining — 0.4%
	332	Cleveland-Cliffs, Inc.(a)		8,300
	188	Commercial Metals Co.		6,166
	15	Nucor Corp.		1,560
	80	Reliance Steel & Aluminum Co.		12,572
	51	Royal Gold, Inc.		6,198

				34,796

		Multi-Utilities — 0.2%
	87	Consolidated Edison, Inc.		6,418
	35	DTE Energy Co.		4,106
	40	Sempra Energy		5,226
	21	WEC Energy Group, Inc.		1,977

				17,727

		Multiline Retail — 0.2%
	481	Macy’s, Inc.(a)		8,177
	48	Target Corp.		12,530

				20,707

		Oil, Gas & Consumable Fuels — 1.2%
	1,033	APA Corp.		19,369
	344	ConocoPhillips		19,285
	102	Devon Energy Corp.		2,636
	189	Diamondback Energy, Inc.		14,578
	17	DTE Midstream LLC(a)		721
	439	EOG Resources, Inc.		31,985
	186	EQT Corp.(a)		3,420
	220	Kinder Morgan, Inc.		3,824
	387	Marathon Oil Corp.		4,485
	89	ONEOK, Inc.		4,625
	616	Southwestern Energy Co.(a)		2,901
	63	Valero Energy Corp.		4,219
	104	World Fuel Services Corp.		3,584

				115,632

		Paper & Forest Products — 0.1%
	139	Louisiana-Pacific Corp.		7,706

		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		1,335

		Pharmaceuticals — 1.2%
	78	Bristol-Myers Squibb Co.		5,294
	38	Eli Lilly & Co.		9,253
	45	Jazz Pharmaceuticals PLC(a)		7,629
	252	Merck & Co., Inc.		19,371
	320	Novartis AG, Sponsored ADR		29,565
	120	Novo Nordisk A/S, Sponsored ADR		11,112
	26	Organon & Co.(a)		754
	42	Perrigo Co. PLC		2,017
	194	Pfizer, Inc.		8,305
	546	Roche Holding AG, Sponsored ADR		26,350
	8	Zoetis, Inc.		1,622

				121,272

		Professional Services — 0.3%
	84	Exponent, Inc.		8,995
	12	IHS Markit Ltd.		1,402
	32	Insperity, Inc.		3,170
	85	Korn Ferry		5,843
	51	ManpowerGroup, Inc.		6,047
	43	Nielsen Holdings PLC		1,019

				26,476

		Real Estate Management & Development — 0.2%
	145	CBRE Group, Inc., Class A(a)		13,987
	42	Jones Lang LaSalle, Inc.(a)		9,348

				23,335

		REITs – Apartments — 0.3%
	152	American Campus Communities, Inc.		7,647
	101	Camden Property Trust		15,088
	38	Equity Residential		3,197

				25,932

		REITs – Diversified — 0.2%
	51	American Tower Corp.		14,423
	10	Crown Castle International Corp.		1,931
	73	CyrusOne, Inc.		5,202
	78	Weyerhaeuser Co.		2,631

				24,187

		REITs – Health Care — 0.0%
	40	Ventas, Inc.		2,391
	19	Welltower, Inc.		1,651

				4,042

		REITs – Hotels — 0.0%
	115	Host Hotels & Resorts, Inc.(a)		1,832

		REITs – Mortgage — 0.1%
	202	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		11,474

		REITs – Office Property — 0.3%
	9	Boston Properties, Inc.		1,056
	230	Corporate Office Properties Trust		6,771
	259	Douglas Emmett, Inc.		8,651
	344	Easterly Government Properties, Inc.		7,809
	116	Kilroy Realty Corp.		8,035

				32,322

		REITs – Shopping Centers — 0.1%
	613	Brixmor Property Group, Inc.		14,111

		REITs – Storage — 0.0%
	25	Iron Mountain, Inc.		1,094

		REITs – Warehouse/Industrials — 0.1%
	87	ProLogis, Inc.		11,139

		Road & Rail — 0.3%
	111	CSX Corp.		3,588
	39	Norfolk Southern Corp.		10,055
	65	Ryder System, Inc.		4,950
	29	Union Pacific Corp.		6,344

				24,937

		Semiconductors & Semiconductor Equipment — 2.7%
	57	Advanced Micro Devices, Inc.(a)		6,053
	27	Analog Devices, Inc.		4,520
	42	Applied Materials, Inc.		5,877
	88	Cirrus Logic, Inc.(a)		7,268
	148	Cree, Inc.(a)		13,728
	49	Enphase Energy, Inc.(a)		9,290
	180	First Solar, Inc.(a)		15,487
	115	Ichor Holdings Ltd.(a)		5,931

See accompanying notes to financial statements.

| 44

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	198	Intel Corp.	$	10,637
	7	Lam Research Corp.		4,462
	41	Micron Technology, Inc.(a)		3,181
	540	NVIDIA Corp.		105,295
	6	NXP Semiconductors NV		1,238
	228	QUALCOMM, Inc.		34,154
	68	Silicon Laboratories, Inc.(a)		10,131
	75	Texas Instruments, Inc.		14,296
	36	Universal Display Corp.		8,442
	9	Xilinx, Inc.		1,349

				261,339

		Software — 3.6%
	36	Adobe, Inc.(a)		22,379
	37	ANSYS, Inc.(a)		13,633
	180	Autodesk, Inc.(a)		57,803
	53	Blackbaud, Inc.(a)		3,781
	73	Bottomline Technologies, Inc.(a)		2,946
	12	Citrix Systems, Inc.		1,209
	103	CommVault Systems, Inc.(a)		7,786
	23	Fair Isaac Corp.(a)		12,050
	228	Microsoft Corp.		64,960
	38	NortonLifeLock, Inc.		943
	722	Oracle Corp.		62,915
	43	Paylocity Holding Corp.(a)		8,921
	46	Qualys, Inc.(a)		4,672
	172	salesforce.com, Inc.(a)		41,612
	71	SPS Commerce, Inc.(a)		7,735
	196	Workday, Inc., Class A(a)		45,942

				359,287

		Specialty Retail — 1.0%
	153	American Eagle Outfitters, Inc.		5,274
	56	Asbury Automotive Group, Inc.(a)		11,506
	3	AutoZone, Inc.(a)		4,871
	35	Best Buy Co., Inc.		3,932
	69	Boot Barn Holdings, Inc.(a)		5,963
	28	Five Below, Inc.(a)		5,444
	19	GameStop Corp., Class A(a)		3,061
	76	Gap, Inc. (The)		2,217
	83	Home Depot, Inc. (The)		27,240
	35	Lithia Motors, Inc.		13,202
	16	Lowe’s Cos., Inc.		3,083
	45	Monro, Inc.		2,610
	19	TJX Cos., Inc. (The)		1,307
	10	Ulta Beauty, Inc.(a)		3,358
	57	Williams-Sonoma, Inc.		8,647

				101,715

		Technology Hardware, Storage & Peripherals — 0.5%
	1,267	Hewlett Packard Enterprise Co.		18,372
	768	HP, Inc.		22,172
	145	NCR Corp.(a)		6,438
	20	Seagate Technology Holdings PLC		1,758

				48,740

		Textiles, Apparel & Luxury Goods — 0.5%
	34	Deckers Outdoor Corp.(a)		13,969
	989	Under Armour, Inc., Class A(a)		20,225
	86	VF Corp.		6,897
	132	Wolverine World Wide, Inc.		4,427

				45,518

		Thrifts & Mortgage Finance — 0.1%
	189	Mr. Cooper Group, Inc.(a)		7,027

		Trading Companies & Distributors — 0.0%
	44	GATX Corp.		4,059

		Water Utilities — 0.2%
	46	American Water Works Co., Inc.		7,825
	321	Essential Utilities, Inc.		15,768

				23,593

		Wireless Telecommunication Services — 0.2%
	95	Shenandoah Telecommunications Co.		5,015
	87	T-Mobile US, Inc.(a)		12,530

				17,545

		Total Common Stocks (Identified Cost $3,924,753)		4,990,918


Principal Amount
	Bonds and Notes — 9.9%
		Automotive — 0.2%
$	8,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		9,061
	2,000	Lear Corp., 4.250%, 5/15/2029		2,303
	5,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		5,053

				16,417

		Banking — 1.5%
	11,000	American Express Co., 3.700%, 8/03/2023		11,699
	6,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		6,076
	12,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		12,014
	7,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		7,542
	6,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		6,424
	9,000	Citigroup, Inc., 4.600%, 3/09/2026		10,309
	3,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		3,057
	8,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		8,763
	8,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		8,490
	10,000	KeyCorp, MTN, 2.550%, 10/01/2029		10,606
	7,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		7,738
	3,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		3,525
	9,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		9,655
	6,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		6,336
	5,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		5,352
	6,000	State Street Corp., 2.400%, 1/24/2030		6,372
	9,000	Truist Bank, 3.200%, 4/01/2024		9,627
	9,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		9,647
	8,000	Westpac Banking Corp., 2.350%, 2/19/2025		8,442

				151,674

		Brokerage — 0.2%
	8,000	BlackRock, Inc., 2.400%, 4/30/2030		8,514
	10,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		10,120

				18,634

		Chemicals — 0.1%
	4,000	LYB International Finance BV, 5.250%, 7/15/2043		5,298

		Construction Machinery — 0.1%
	8,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		8,056
	4,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		4,041

				12,097

		Consumer Cyclical Services — 0.1%
	5,000	eBay, Inc., 3.800%, 3/09/2022		5,088

See accompanying notes to financial statements.

45 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — 0.5%
$	9,000	Duke Energy Corp., 3.750%, 4/15/2024	$	9,691
	10,000	Entergy Corp., 0.900%, 9/15/2025		9,946
	7,000	Exelon Corp., 4.050%, 4/15/2030		8,090
	9,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		9,245
	3,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		3,201
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		2,191
	8,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		8,776

				51,140

		Finance Companies — 0.1%
	6,000	Ares Capital Corp., 3.250%, 7/15/2025		6,361

		Financial Other — 0.1%
	12,000	ORIX Corp., 2.900%, 7/18/2022		12,299

		Food & Beverage — 0.3%
	10,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		10,212
	8,000	General Mills, Inc., 4.000%, 4/17/2025		8,868
	8,000	Mondelez International, Inc., 2.750%, 4/13/2030		8,537

				27,617

		Government Owned – No Guarantee — 0.1%
	9,000	Federal National Mortgage Association, 6.625%, 11/15/2030		13,162

		Health Insurance — 0.2%
	8,000	Anthem, Inc., 4.101%, 3/01/2028		9,220
	7,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		10,022

				19,242

		Healthcare — 0.3%
	4,000	Cigna Corp., 3.750%, 7/15/2023		4,248
	7,000	CVS Health Corp., 4.300%, 3/25/2028		8,105
	6,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		6,276
	6,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		6,448

				25,077
				��
		Independent Energy — 0.1%
	11,000	EQT Corp., 3.000%, 10/01/2022		11,151

		Integrated Energy — 0.2%
	6,000	BP Capital Markets PLC, 3.814%, 2/10/2024		6,479
	8,000	Exxon Mobil Corp., 2.992%, 3/19/2025		8,589
	5,000	Shell International Finance BV, 6.375%, 12/15/2038		7,455

				22,523

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567
	4,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		4,418

				6,985

		Media Entertainment — 0.0%
	4,000	ViacomCBS, Inc., 4.750%, 5/15/2025		4,533

		Midstream — 0.1%
	7,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		7,542

		Mortgage Related — 1.6%
	50,690	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		51,726
	48,006	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		50,044
	36,941	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		38,788
	10,534	FNMA, 3.500%, with various maturities in 2049(b)		11,150
	2,845	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		3,037
		Mortgage Related — continued
	2,487	FNMA, 4.500%, 5/01/2049		2,683

				157,428

		Natural Gas — 0.1%
	10,000	NiSource, Inc., 0.950%, 8/15/2025		9,945

		Pharmaceuticals — 0.3%
	8,000	AbbVie, Inc., 3.600%, 5/14/2025		8,741
	6,000	Amgen, Inc., 2.650%, 5/11/2022		6,100
	4,000	Biogen, Inc., 2.250%, 5/01/2030		4,074
	10,000	Johnson & Johnson, 1.300%, 9/01/2030		9,864
	5,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		5,451

				34,230

		Property & Casualty Insurance — 0.1%
	8,000	American International Group, Inc., 3.400%, 6/30/2030		8,838
	2,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		2,186

				11,024

		Railroads — 0.1%
	8,000	CSX Corp., 2.600%, 11/01/2026		8,552

		REITs – Apartments — 0.0%
	4,000	Essex Portfolio LP, 3.000%, 1/15/2030		4,281

		REITs – Health Care — 0.0%
	4,000	Welltower, Inc., 2.800%, 6/01/2031		4,228

		REITs – Office Property — 0.1%
	6,000	Boston Properties LP, 2.750%, 10/01/2026		6,437

		REITs – Retail — 0.1%
	3,000	Spirit Realty LP, 2.700%, 2/15/2032		3,038
	2,000	VEREIT Operating Partnership LP, 3.400%, 1/15/2028		2,206

				5,244

		Restaurants — 0.1%
	8,000	Starbucks Corp., 2.250%, 3/12/2030		8,230

		Retailers — 0.0%
	4,000	Amazon.com, Inc., 3.875%, 8/22/2037		4,848

		Technology — 0.7%
	9,000	Apple, Inc., 2.500%, 2/09/2025		9,539
	6,000	Broadcom, Inc., 4.110%, 9/15/2028		6,771
	5,000	HP, Inc., 3.000%, 6/17/2027		5,397
	7,000	Intel Corp., 2.450%, 11/15/2029		7,378
	8,000	International Business Machines Corp., 4.000%, 6/20/2042		9,508
	7,000	NVIDIA Corp., 2.850%, 4/01/2030		7,654
	7,000	Oracle Corp., 2.950%, 5/15/2025		7,471
	9,000	QUALCOMM, Inc., 1.650%, 5/20/2032		8,780
	11,000	VMware, Inc., 2.950%, 8/21/2022		11,265

				73,763

		Treasuries — 2.0%
	9,000	U.S. Treasury Bond, 2.250%, 5/15/2041		9,668
	8,000	U.S. Treasury Bond, 2.500%, 5/15/2046		8,976
	19,000	U.S. Treasury Bond, 2.875%, 11/15/2046		22,819
	24,000	U.S. Treasury Bond, 3.000%, 5/15/2045		29,234
	12,000	U.S. Treasury Bond, 3.000%, 2/15/2048		14,804
	19,000	U.S. Treasury Bond, 3.000%, 2/15/2049		23,551
	31,000	U.S. Treasury Note, 0.375%, 11/30/2025		30,703
	15,000	U.S. Treasury Note, 1.625%, 8/31/2022		15,247
	40,000	U.S. Treasury Note, 2.125%, 12/31/2022		41,127

				196,129

		Utility Other — 0.1%
	8,000	Essential Utilities, Inc., 4.276%, 5/01/2049		9,820

See accompanying notes to financial statements.

| 46

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Principal Amount		Description	Value (†)
		Wireless — 0.1%
$	7,000	Vodafone Group PLC, 6.150%, 2/27/2037	$	9,795

		Wirelines — 0.2%
	5,000	AT&T, Inc., 3.650%, 6/01/2051		5,299
	3,000	AT&T, Inc., 5.250%, 3/01/2037		3,812
	7,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		7,203

				16,314

		Total Bonds and Notes (Identified Cost $965,762)		977,108


Shares
	Exchange-Traded Funds — 7.9%
	9,795	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $677,316)		779,290


	Mutual Funds — 8.2%
	16,369	WCM Focused Emerging Markets Fund, Institutional Class		329,010
	17,033	WCM Focused International Growth Fund, Institutional Class		478,793

		Total Mutual Funds (Identified Cost $690,672)		807,803


	Affiliated Mutual Funds — 20.7%
	33,310	Loomis Sayles Inflation Protected Securities Fund, Class N		409,044
	31,511	Loomis Sayles Limited Term Government and Agency Fund, Class N		362,064
	43,910	Mirova Global Green Bond Fund, Class N		466,323
	53,237	Mirova International Sustainable Equity Fund, Class N		795,897

		Total Affiliated Mutual Funds (Identified Cost $1,901,973)		2,033,328


Principal Amount
	Short-Term Investments — 3.0%
$	292,965	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $292,965 on 8/02/2021 collateralized by $303,000 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $299,147 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $292,965)		292,965


		Total Investments — 100.4% (Identified Cost $8,453,441)		9,881,412
		Other assets less liabilities — (0.4)%		(38,440	)

		Net Assets — 100.0%	$	9,842,972


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $13,189 or 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	74.9	%
Fixed Income	22.5
Short-Term Investments	3.0

Total Investments	100.4
Other assets less liabilities	(0.4	)

Net Assets	100.0	%

See accompanying notes to financial statements.

47 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund


Shares		Description		Value (†)
	Common Stocks — 56.0% of Net Assets
		Aerospace & Defense — 0.9%
	31	Axon Enterprise, Inc.(a)		$	5,767
	185	Boeing Co. (The)(a)			41,899
	74	General Dynamics Corp.			14,506
	6	L3Harris Technologies, Inc.			1,360
	49	Moog, Inc., Class A			3,816
	81	Raytheon Technologies Corp.			7,043

					74,391

		Air Freight & Logistics — 0.3%
	151	Expeditors International of Washington, Inc.			19,366
	44	United Parcel Service, Inc., Class B			8,420

					27,786

		Airlines — 0.1%
	15	Alaska Air Group, Inc.(a)			870
	83	Delta Air Lines, Inc.(a)			3,312
	447	JetBlue Airways Corp.(a)			6,611

					10,793

		Auto Components — 0.2%
	13	Aptiv PLC(a)			2,169
	20	BorgWarner, Inc.			980
	301	Dana, Inc.			7,272
	43	Visteon Corp.(a)			4,904

					15,325

		Automobiles — 0.4%
	468	General Motors Co.(a)			26,601
	42	Thor Industries, Inc.			4,971

					31,572

		Banks — 2.6%
	216	Ameris Bancorp			10,500
	196	Bancorp, Inc. (The)(a)			4,581
	208	BancorpSouth Bank			5,366
	843	Bank of America Corp.			32,338
	472	Citigroup, Inc.			31,917
	135	Citizens Financial Group, Inc.			5,692
	8	Comerica, Inc.			549
	101	Cullen/Frost Bankers, Inc.			10,839
	65	Fifth Third Bancorp			2,359
	365	Fulton Financial Corp.			5,592
	74	Huntington Bancshares, Inc.			1,042
	185	International Bancshares Corp.			7,230
	184	KeyCorp			3,617
	12	M&T Bank Corp.			1,606
	222	People’s United Financial, Inc.			3,485
	87	PNC Financial Services Group, Inc. (The)			15,870
	235	Regions Financial Corp.			4,524
	269	Truist Financial Corp.			14,642
	286	Trustmark Corp.			8,586
	128	U.S. Bancorp			7,109
	174	Webster Financial Corp.			8,369
	478	Wells Fargo & Co.			21,959
	76	Wintrust Financial Corp.			5,426

					213,198

		Beverages — 1.6%
	212	Coca-Cola Co. (The)			12,090
	101	Constellation Brands, Inc., Class A			22,658
	998	Keurig Dr Pepper, Inc.	��		35,140
	490	Monster Beverage Corp.(a)			46,217
	77	PepsiCo, Inc.			12,085

					128,190

		Biotechnology — 1.7%
	56	AbbVie, Inc.			6,513
	159	Alnylam Pharmaceuticals, Inc.(a)			28,451
	51	Amgen, Inc.			12,319
	15	Biogen, Inc.(a)			4,901
	124	BioMarin Pharmaceutical, Inc.(a)			9,514
	143	CRISPR Therapeutics AG(a)			17,306
	38	Gilead Sciences, Inc.			2,595
	30	Ligand Pharmaceuticals, Inc.(a)			3,405
	100	Regeneron Pharmaceuticals, Inc.(a)			57,461

					142,465

		Building Products — 0.4%
	30	Carlisle Cos., Inc.			6,067
	31	Carrier Global Corp.			1,713
	36	Johnson Controls International PLC			2,571
	30	Lennox International, Inc.			9,883
	89	Owens Corning			8,558
	58	Trex Co., Inc.(a)			5,632

					34,424

		Capital Markets — 3.9%
	13	Ameriprise Financial, Inc.			3,348
	752	Bank of New York Mellon Corp. (The)			38,600
	10	BlackRock, Inc.			8,672
	474	Charles Schwab Corp. (The)			32,208
	19	CME Group, Inc.			4,030
	70	FactSet Research Systems, Inc.			25,010
	63	Franklin Resources, Inc.			1,862
	76	Goldman Sachs Group, Inc. (The)			28,491
	122	Intercontinental Exchange, Inc.			14,619
	20	Invesco Ltd.			488
	148	Janus Henderson Group PLC			6,192
	225	KKR & Co., Inc.			14,346
	34	Moody’s Corp.			12,784
	26	Morgan Stanley			2,495
	37	MSCI, Inc.			22,050
	135	Northern Trust Corp.			15,235
	48	S&P Global, Inc.			20,579
	252	SEI Investments Co.			15,322
	488	State Street Corp.			42,524
	7	T. Rowe Price Group, Inc.			1,429
	35	Virtus Investment Partners, Inc.			9,665

					319,949

		Chemicals — 0.6%
	11	Air Products & Chemicals, Inc.			3,201
	26	DuPont de Nemours, Inc.			1,951
	12	Ecolab, Inc.			2,650
	80	HB Fuller Co.			5,170
	57	Innospec, Inc.			5,042
	55	Linde PLC			16,906
	68	Minerals Technologies, Inc.			5,455
	11	PPG Industries, Inc.			1,799
	11	Sherwin-Williams Co. (The)			3,201
	39	Stepan Co.			4,600

					49,975

		Commercial Services & Supplies — 0.3%
	71	Healthcare Services Group, Inc.			1,853
	41	MSA Safety, Inc.			6,744
	9	Republic Services, Inc.			1,066
	60	Tetra Tech, Inc.			8,011
	86	Viad Corp.(a)			3,943
	16	Waste Management, Inc.			2,372

					23,989

See accompanying notes to financial statements.

| 48

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.6%
	38	Arista Networks, Inc.(a)	$	14,455
	98	Ciena Corp.(a)		5,698
	487	Cisco Systems, Inc.		26,965
	7	F5 Networks, Inc.(a)		1,446
	55	Lumentum Holdings, Inc.(a)		4,619

				53,183

		Construction & Engineering — 0.1%
	186	AECOM(a)		11,711

		Consumer Finance — 1.6%
	873	Ally Financial, Inc.		44,837
	189	American Express Co.		32,230
	285	Capital One Financial Corp.		46,085
	57	Green Dot Corp., Class A(a)		2,626
	45	PROG Holdings, Inc.		1,970

				127,748

		Containers & Packaging — 0.1%
	60	Ball Corp.		4,853
	51	International Paper Co.		2,946

				7,799

		Distributors — 0.1%
	39	Genuine Parts Co.		4,950

		Diversified Telecommunication Services — 0.3%
	217	AT&T, Inc.		6,087
	1,196	Lumen Technologies, Inc.		14,914

				21,001

		Electric Utilities — 0.6%
	131	American Electric Power Co., Inc.		11,544
	217	Edison International		11,827
	32	Eversource Energy		2,761
	55	IDACORP, Inc.		5,800
	205	NextEra Energy, Inc.		15,969
	31	PPL Corp.		879

				48,780

		Electrical Equipment — 0.5%
	21	Acuity Brands, Inc.		3,683
	48	Eaton Corp. PLC		7,586
	38	Hubbell, Inc.		7,618
	344	Plug Power, Inc.(a)		9,384
	32	Rockwell Automation, Inc.		9,838
	68	Sunrun, Inc.(a)		3,602

				41,711

		Electronic Equipment, Instruments & Components — 0.8%
	18	Amphenol Corp., Class A		1,305
	103	Avnet, Inc.		4,256
	106	Cognex Corp.		9,583
	23	Coherent, Inc.(a)		5,657
	35	Corning, Inc.		1,465
	135	Itron, Inc.(a)		13,314
	21	Littelfuse, Inc.		5,586
	20	Rogers Corp.(a)		3,812
	140	TE Connectivity Ltd.		20,646
	187	Vishay Intertechnology, Inc.		4,138

				69,762

		Energy Equipment & Services — 0.4%
	792	Archrock, Inc.		6,819
	103	Baker Hughes Co.		2,188
	236	ChampionX Corp.(a)		5,484
	96	NOV, Inc.(a)		1,326
		Energy Equipment & Services — continued
	682	Schlumberger NV		19,662

				35,479

		Entertainment — 1.1%
	36	Activision Blizzard, Inc.		3,010
	88	Cinemark Holdings, Inc.(a)		1,367
	67	Electronic Arts, Inc.		9,645
	52	Netflix, Inc.(a)		26,914
	293	Walt Disney Co. (The)(a)		51,574

				92,510

		Food & Staples Retailing — 0.2%
	81	BJ’s Wholesale Club Holdings, Inc.(a)		4,102
	4	Costco Wholesale Corp.		1,719
	77	Kroger Co. (The)		3,134
	252	SpartanNash Co.		4,901
	15	Sysco Corp.		1,113
	64	Walgreens Boots Alliance, Inc.		3,018

				17,987

		Food Products — 0.4%
	71	Campbell Soup Co.		3,104
	16	Conagra Brands, Inc.		536
	99	Darling Ingredients, Inc.(a)		6,838
	55	General Mills, Inc.		3,237
	107	Hain Celestial Group, Inc. (The)(a)		4,270
	72	Hormel Foods Corp.		3,339
	54	Ingredion, Inc.		4,742
	14	J.M. Smucker Co. (The)		1,836
	25	Kellogg Co.		1,584
	13	McCormick & Co., Inc.		1,094

				30,580

		Gas Utilities — 0.2%
	111	New Jersey Resources Corp.		4,276
	62	ONE Gas, Inc.		4,574
	133	South Jersey Industries, Inc.		3,347
	133	UGI Corp.		6,117

				18,314

		Health Care Equipment & Supplies — 1.1%
	56	Abbott Laboratories		6,775
	12	Baxter International, Inc.		928
	9	Becton Dickinson & Co.		2,302
	46	Boston Scientific Corp.(a)		2,098
	8	Cooper Cos., Inc. (The)		3,374
	23	Danaher Corp.		6,842
	16	DENTSPLY SIRONA, Inc.		1,057
	56	Edwards Lifesciences Corp.(a)		6,287
	58	Globus Medical, Inc., Class A(a)		4,824
	32	Haemonetics Corp.(a)		1,945
	55	Hill-Rom Holdings, Inc.		7,615
	27	Hologic, Inc.(a)		2,026
	16	Intuitive Surgical, Inc.(a)		15,863
	38	Medtronic PLC		4,990
	152	Meridian Bioscience, Inc.(a)		3,116
	49	Merit Medical Systems, Inc.(a)		3,434
	29	Penumbra, Inc.(a)		7,721
	16	Quidel Corp.(a)		2,264
	27	STAAR Surgical Co.(a)		3,454
	6	STERIS PLC		1,308
	10	Stryker Corp.		2,709

				90,932

See accompanying notes to financial statements.

49 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 2.1%
	20	Amedisys, Inc.(a)	$	5,212
	26	Anthem, Inc.		9,984
	145	Centene Corp.(a)		9,949
	14	Chemed Corp.		6,664
	32	Cigna Corp.		7,344
	210	CVS Health Corp.		17,296
	56	Encompass Health Corp.		4,662
	163	HCA Healthcare, Inc.		40,457
	28	Henry Schein, Inc.(a)		2,244
	67	Humana, Inc.		28,533
	23	Laboratory Corp. of America Holdings(a)		6,811
	217	MEDNAX, Inc.(a)		6,319
	107	Patterson Cos., Inc.		3,331
	35	Quest Diagnostics, Inc.		4,963
	147	Select Medical Holdings Corp.		5,799
	29	UnitedHealth Group, Inc.		11,954

				171,522

		Health Care Technology — 0.2%
	345	Allscripts Healthcare Solutions, Inc.(a)		5,893
	144	Cerner Corp.		11,576

				17,469

		Hotels, Restaurants & Leisure — 1.8%
	13	Booking Holdings, Inc.(a)		28,318
	3	Chipotle Mexican Grill, Inc.(a)		5,590
	11	Expedia Group, Inc.(a)		1,770
	176	Hilton Worldwide Holdings, Inc.(a)		23,135
	64	Jack in the Box, Inc.		6,967
	17	McDonald’s Corp.		4,126
	23	Royal Caribbean Cruises Ltd.(a)		1,768
	72	Shake Shack, Inc., Class A(a)		7,239
	104	Six Flags Entertainment Corp.(a)		4,321
	247	Starbucks Corp.		29,993
	209	Wendy’s Co. (The)		4,851
	275	Yum China Holdings, Inc.		17,102
	95	Yum! Brands, Inc.		12,482

				147,662

		Household Durables — 0.3%
	167	KB Home		7,087
	125	Meritage Homes Corp.(a)		13,573
	225	Taylor Morrison Home Corp.(a)		6,035

				26,695

		Household Products — 0.5%
	7	Clorox Co. (The)		1,266
	235	Colgate-Palmolive Co.		18,683
	129	Kimberly-Clark Corp.		17,508

				37,457

		Independent Power & Renewable Electricity Producers — 0.3%
	74	AES Corp. (The)		1,754
	179	NextEra Energy Partners LP		13,878
	76	Ormat Technologies, Inc.		5,300
	105	Sunnova Energy International, Inc.(a)		4,000

				24,932

		Industrial Conglomerates — 0.3%
	1,640	General Electric Co.		21,238
	8	Honeywell International, Inc.		1,870

				23,108

		Insurance — 1.5%
	27	Aflac, Inc.		1,485
	38	Allstate Corp. (The)		4,942
		Insurance — continued
	494	American International Group, Inc.		23,391
	71	Chubb Ltd.		11,981
	96	First American Financial Corp.		6,462
	36	Hanover Insurance Group, Inc. (The)		4,892
	134	Hartford Financial Services Group, Inc. (The)		8,525
	15	Lincoln National Corp.		924
	47	Marsh & McLennan Cos., Inc.		6,919
	306	MetLife, Inc.		17,656
	65	Prudential Financial, Inc.		6,518
	250	Reinsurance Group of America, Inc.		27,545
	31	Travelers Cos., Inc. (The)		4,617

				125,857

		Interactive Media & Services — 3.1%
	25	Alphabet, Inc., Class A(a)		67,363
	30	Alphabet, Inc., Class C(a)		81,133
	296	Facebook, Inc., Class A(a)		105,465

				253,961

		Internet & Direct Marketing Retail — 2.0%
	217	Alibaba Group Holding Ltd., Sponsored ADR(a)		42,356
	22	Amazon.com, Inc.(a)		73,207
	623	eBay, Inc.		42,495
	7	Etsy, Inc.(a)		1,285
	682	Qurate Retail, Inc., Class A		8,088

				167,431

		IT Services — 3.3%
	62	Accenture PLC, Class A		19,696
	114	Akamai Technologies, Inc.(a)		13,671
	153	Automatic Data Processing, Inc.		32,073
	50	Cognizant Technology Solutions Corp., Class A		3,677
	644	DXC Technology Co.(a)		25,747
	215	Fiserv, Inc.(a)		24,749
	114	Gartner, Inc.(a)		30,179
	90	MasterCard, Inc., Class A		34,735
	27	Paychex, Inc.		3,073
	14	VeriSign, Inc.(a)		3,029
	289	Visa, Inc., Class A		71,207
	28	WEX, Inc.(a)		5,312

				267,148

		Leisure Products — 0.0%
	128	Callaway Golf Co.(a)		4,055

		Life Sciences Tools & Services — 0.9%
	21	Agilent Technologies, Inc.		3,218
	20	Bio-Techne Corp.		9,645
	64	Illumina, Inc.(a)		31,728
	116	NeoGenomics, Inc.(a)		5,348
	52	Repligen Corp.(a)		12,776
	12	Thermo Fisher Scientific, Inc.		6,480
	8	Waters Corp.(a)		3,118

				72,313

		Machinery — 1.6%
	70	AGCO Corp.		9,248
	72	Caterpillar, Inc.		14,886
	39	Chart Industries, Inc.(a)		6,062
	67	Cummins, Inc.		15,551
	112	Deere & Co.		40,498
	13	Illinois Tool Works, Inc.		2,947
	93	ITT, Inc.		9,106
	125	Kennametal, Inc.		4,531
	73	Oshkosh Corp.		8,727
	17	Parker-Hannifin Corp.		5,304

See accompanying notes to financial statements.

| 50

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	21	Proto Labs, Inc.(a)	$	1,642
	92	Terex Corp.		4,409
	81	Toro Co. (The)		9,213

				132,124

		Media — 1.4%
	5	Cable One, Inc.		9,440
	46	Charter Communications, Inc., Class A(a)		34,226
	797	Comcast Corp., Class A		46,887
	116	Discovery, Inc., Series A(a)		3,365
	18	Discovery, Inc., Series C(a)		488
	80	Fox Corp., Class A		2,853
	67	Interpublic Group of Cos., Inc. (The)		2,369
	100	New York Times Co. (The), Class A		4,378
	63	News Corp., Class A		1,552
	90	Omnicom Group, Inc.		6,554

				112,112

		Metals & Mining — 0.4%
	298	Cleveland-Cliffs, Inc.(a)		7,450
	168	Commercial Metals Co.		5,510
	12	Nucor Corp.		1,248
	71	Reliance Steel & Aluminum Co.		11,158
	46	Royal Gold, Inc.		5,590

				30,956

		Multi-Utilities — 0.2%
	77	Consolidated Edison, Inc.		5,680
	30	DTE Energy Co.		3,520
	35	Sempra Energy		4,573
	18	WEC Energy Group, Inc.		1,694

				15,467

		Multiline Retail — 0.2%
	428	Macy’s, Inc.(a)		7,276
	44	Target Corp.		11,486

				18,762

		Oil, Gas & Consumable Fuels — 1.3%
	963	APA Corp.		18,056
	320	ConocoPhillips		17,939
	86	Devon Energy Corp.		2,222
	178	Diamondback Energy, Inc.		13,729
	15	DTE Midstream LLC(a)		636
	417	EOG Resources, Inc.		30,383
	184	EQT Corp.(a)		3,384
	198	Kinder Morgan, Inc.		3,441
	355	Marathon Oil Corp.		4,114
	76	ONEOK, Inc.		3,950
	591	Southwestern Energy Co.(a)		2,784
	54	Valero Energy Corp.		3,616
	97	World Fuel Services Corp.		3,343

				107,597

		Paper & Forest Products — 0.1%
	123	Louisiana-Pacific Corp.		6,819

		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		1,335

		Pharmaceuticals — 1.4%
	76	Bristol-Myers Squibb Co.		5,158
	34	Eli Lilly & Co.		8,279
	40	Jazz Pharmaceuticals PLC(a)		6,781
	242	Merck & Co., Inc.		18,602
	307	Novartis AG, Sponsored ADR		28,364
	115	Novo Nordisk A/S, Sponsored ADR		10,649
	22	Organon & Co.(a)		638
		Pharmaceuticals — continued
	35	Perrigo Co. PLC		1,681
	177	Pfizer, Inc.		7,577
	522	Roche Holding AG, Sponsored ADR		25,192
	8	Zoetis, Inc.		1,622

				114,543

		Professional Services — 0.3%
	74	Exponent, Inc.		7,925
	10	IHS Markit Ltd.		1,168
	29	Insperity, Inc.		2,872
	75	Korn Ferry		5,156
	45	ManpowerGroup, Inc.		5,336
	24	Nielsen Holdings PLC		569

				23,026

		Real Estate Management & Development — 0.3%
	137	CBRE Group, Inc., Class A(a)		13,215
	38	Jones Lang LaSalle, Inc.(a)		8,458

				21,673

		REITs – Apartments — 0.3%
	135	American Campus Communities, Inc.		6,792
	90	Camden Property Trust		13,445
	34	Equity Residential		2,860

				23,097

		REITs – Diversified — 0.3%
	46	American Tower Corp.		13,009
	8	Crown Castle International Corp.		1,545
	65	CyrusOne, Inc.		4,632
	58	Weyerhaeuser Co.		1,956

				21,142

		REITs – Health Care — 0.0%
	31	Ventas, Inc.		1,853
	15	Welltower, Inc.		1,303

				3,156

		REITs – Hotels — 0.0%
	96	Host Hotels & Resorts, Inc.(a)		1,529

		REITs – Mortgage — 0.1%
	189	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		10,735

		REITs – Office Property — 0.4%
	8	Boston Properties, Inc.		939
	204	Corporate Office Properties Trust		6,006
	231	Douglas Emmett, Inc.		7,715
	308	Easterly Government Properties, Inc.		6,992
	102	Kilroy Realty Corp.		7,065

				28,717

		REITs – Shopping Centers — 0.2%
	549	Brixmor Property Group, Inc.		12,638

		REITs – Storage — 0.0%
	25	Iron Mountain, Inc.		1,094

		REITs – Warehouse/Industrials — 0.1%
	79	ProLogis, Inc.		10,115

		Road & Rail — 0.3%
	96	CSX Corp.		3,102
	36	Norfolk Southern Corp.		9,282
	59	Ryder System, Inc.		4,493
	26	Union Pacific Corp.		5,688

				22,565

See accompanying notes to financial statements.

51 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — 2.9%
	45	Advanced Micro Devices, Inc.(a)	$	4,779
	22	Analog Devices, Inc.		3,683
	35	Applied Materials, Inc.		4,897
	78	Cirrus Logic, Inc.(a)		6,442
	133	Cree, Inc.(a)		12,337
	45	Enphase Energy, Inc.(a)		8,532
	173	First Solar, Inc.(a)		14,885
	103	Ichor Holdings Ltd.(a)		5,312
	186	Intel Corp.		9,992
	7	Lam Research Corp.		4,462
	32	Micron Technology, Inc.(a)		2,483
	500	NVIDIA Corp.		97,495
	6	NXP Semiconductors NV		1,238
	215	QUALCOMM, Inc.		32,207
	60	Silicon Laboratories, Inc.(a)		8,939
	68	Texas Instruments, Inc.		12,962
	32	Universal Display Corp.		7,504
	8	Xilinx, Inc.		1,199

				239,348

		Software — 4.1%
	33	Adobe, Inc.(a)		20,514
	34	ANSYS, Inc.(a)		12,528
	169	Autodesk, Inc.(a)		54,271
	50	Blackbaud, Inc.(a)		3,566
	72	Bottomline Technologies, Inc.(a)		2,906
	11	Citrix Systems, Inc.		1,108
	90	CommVault Systems, Inc.(a)		6,803
	21	Fair Isaac Corp.(a)		11,002
	216	Microsoft Corp.		61,541
	27	NortonLifeLock, Inc.		670
	680	Oracle Corp.		59,255
	39	Paylocity Holding Corp.(a)		8,091
	40	Qualys, Inc.(a)		4,062
	161	salesforce.com, Inc.(a)		38,951
	64	SPS Commerce, Inc.(a)		6,973
	182	Workday, Inc., Class A(a)		42,661

				334,902

		Specialty Retail — 1.1%
	137	American Eagle Outfitters, Inc.		4,722
	50	Asbury Automotive Group, Inc.(a)		10,273
	3	AutoZone, Inc.(a)		4,871
	25	Best Buy Co., Inc.		2,809
	61	Boot Barn Holdings, Inc.(a)		5,272
	25	Five Below, Inc.(a)		4,860
	17	GameStop Corp., Class A(a)		2,739
	52	Gap, Inc. (The)		1,517
	76	Home Depot, Inc. (The)		24,942
	31	Lithia Motors, Inc.		11,694
	14	Lowe’s Cos., Inc.		2,698
	39	Monro, Inc.		2,262
	13	TJX Cos., Inc. (The)		895
	9	Ulta Beauty, Inc.(a)		3,022
	50	Williams-Sonoma, Inc.		7,585

				90,161

		Technology Hardware, Storage & Peripherals — 0.5%
	1,176	Hewlett Packard Enterprise Co.		17,052
	723	HP, Inc.		20,873
	129	NCR Corp.(a)		5,728
	16	Seagate Technology Holdings PLC		1,406

				45,059

		Textiles, Apparel & Luxury Goods — 0.5%
	30	Deckers Outdoor Corp.(a)		12,325
	939	Under Armour, Inc., Class A(a)		19,203
	81	VF Corp.		6,496
	124	Wolverine World Wide, Inc.		4,159

				42,183

		Thrifts & Mortgage Finance — 0.1%
	169	Mr. Cooper Group, Inc.(a)		6,283

		Trading Companies & Distributors — 0.0%
	41	GATX Corp.		3,782

		Water Utilities — 0.3%
	40	American Water Works Co., Inc.		6,804
	290	Essential Utilities, Inc.		14,245

				21,049

		Wireless Telecommunication Services — 0.2%
	85	Shenandoah Telecommunications Co.		4,487
	82	T-Mobile US, Inc.(a)		11,810

				16,297

		Total Common Stocks (Identified Cost $3,719,523)		4,602,380


Principal Amount
	Bonds and Notes — 6.3%
		Automotive — 0.1%
$	4,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		4,531
	2,000	Lear Corp., 4.250%, 5/15/2029		2,303
	5,000	Toyota Motor Credit Corp., MTN, 2.600%, 1/11/2022		5,052

				11,886

		Banking — 0.9%
	5,000	American Express Co., 3.700%, 8/03/2023		5,318
	5,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		5,063
	5,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		5,006
	4,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		4,310
	2,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		2,141
	4,000	Citigroup, Inc., 4.600%, 3/09/2026		4,582
	2,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		2,038
	4,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		4,382
	4,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		4,245
	4,000	KeyCorp, MTN, 2.550%, 10/01/2029		4,243
	4,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		4,422
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,350
	4,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		4,291
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		2,112
	3,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		3,211
	4,000	State Street Corp., 2.400%, 1/24/2030		4,248
	5,000	Truist Bank, 3.200%, 4/01/2024		5,348
	5,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		5,359
	4,000	Westpac Banking Corp., 2.350%, 2/19/2025		4,221

				76,890

		Brokerage — 0.1%
	4,000	BlackRock, Inc., 2.400%, 4/30/2030		4,257
	7,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		7,084

				11,341

See accompanying notes to financial statements.

| 52

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Principal Amount		Description	Value (†)
		Chemicals — 0.1%
$	6,000	LYB International Finance BV, 5.250%, 7/15/2043	$	7,947

		Construction Machinery — 0.1%
	6,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		6,042
	5,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		5,051

				11,093

		Consumer Cyclical Services — 0.0%
	4,000	eBay, Inc., 3.800%, 3/09/2022		4,070

		Electric — 0.4%
	4,000	Duke Energy Corp., 3.750%, 4/15/2024		4,307
	6,000	Entergy Corp., 0.900%, 9/15/2025		5,967
	2,000	Exelon Corp., 4.050%, 4/15/2030		2,312
	4,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		4,109
	8,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		8,537
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		2,191
	4,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		4,388

				31,811

		Finance Companies — 0.0%
	2,000	Ares Capital Corp., 3.250%, 7/15/2025		2,120

		Financial Other — 0.1%
	6,000	ORIX Corp., 2.900%, 7/18/2022		6,149

		Food & Beverage — 0.1%
	4,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		4,085
	5,000	General Mills, Inc., 4.000%, 4/17/2025		5,543
	4,000	Mondelez International, Inc., 2.750%, 4/13/2030		4,268

				13,896

		Government Owned – No Guarantee — 0.1%
	4,000	Federal National Mortgage Association, 6.625%, 11/15/2030		5,850

		Health Insurance — 0.1%
	4,000	Anthem, Inc., 4.101%, 3/01/2028		4,610
	3,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		4,295

				8,905

		Healthcare — 0.2%
	4,000	Cigna Corp., 3.750%, 7/15/2023		4,248
	6,000	CVS Health Corp., 4.300%, 3/25/2028		6,947
	2,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		2,092
	2,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		2,149

				15,436

		Independent Energy — 0.1%
	5,000	EQT Corp., 3.000%, 10/01/2022		5,069

		Integrated Energy — 0.1%
	4,000	BP Capital Markets PLC, 3.814%, 2/10/2024		4,319
	4,000	Exxon Mobil Corp., 2.992%, 3/19/2025		4,295
	3,000	Shell International Finance BV, 6.375%, 12/15/2038		4,473

				13,087

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567
	2,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		2,209

				4,776

		Media Entertainment — 0.1%
	4,000	ViacomCBS, Inc., 4.750%, 5/15/2025		4,533

		Midstream — 0.1%
	5,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		5,387

		Mortgage Related — 0.9%
	489	FHLMC, 3.000%, 6/01/2049		512
	27,852	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		28,422
	26,003	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		27,106
	9,455	FNMA, 3.000%, with various maturities from 2034 to 2050(b)		9,923
	4,732	FNMA, 3.500%, with various maturities in 2049(b)		5,009
	1,073	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		1,145
	1,212	FNMA, 4.500%, with various maturities in 2049(b)		1,307

				73,424

		Natural Gas — 0.1%
	6,000	NiSource, Inc., 0.950%, 8/15/2025		5,967

		Pharmaceuticals — 0.2%
	4,000	AbbVie, Inc., 3.600%, 5/14/2025		4,370
	5,000	Amgen, Inc., 2.650%, 5/11/2022		5,083
	2,000	Biogen, Inc., 2.250%, 5/01/2030		2,037
	5,000	Johnson & Johnson, 1.300%, 9/01/2030		4,932
	2,000	Viatris, Inc., 3.850%, 6/22/2040, 144A		2,181

				18,603

		Property & Casualty Insurance — 0.1%
	4,000	American International Group, Inc., 3.400%, 6/30/2030		4,419

		Railroads — 0.1%
	4,000	CSX Corp., 2.600%, 11/01/2026		4,276

		REITs – Apartments — 0.0%
	2,000	Essex Portfolio LP, 3.000%, 1/15/2030		2,140

		REITs – Health Care — 0.0%
	2,000	Welltower, Inc., 2.800%, 6/01/2031		2,114

		REITs – Office Property — 0.0%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		2,146

		Restaurants — 0.1%
	5,000	Starbucks Corp., 2.250%, 3/12/2030		5,144

		Retailers — 0.1%
	4,000	Amazon.com, Inc., 3.875%, 8/22/2037		4,848

		Technology — 0.4%
	5,000	Apple, Inc., 2.500%, 2/09/2025		5,299
	2,000	Broadcom, Inc., 4.110%, 9/15/2028		2,257
	2,000	HP, Inc., 3.000%, 6/17/2027		2,159
	2,000	Intel Corp., 2.450%, 11/15/2029		2,108
	5,000	International Business Machines Corp., 4.000%, 6/20/2042		5,943
	2,000	NVIDIA Corp., 2.850%, 4/01/2030		2,187
	4,000	Oracle Corp., 2.950%, 5/15/2025		4,269
	6,000	QUALCOMM, Inc., 1.650%, 5/20/2032		5,853
	6,000	VMware, Inc., 2.950%, 8/21/2022		6,145

				36,220

		Treasuries — 1.1%
	3,000	U.S. Treasury Bond, 2.250%, 5/15/2041		3,223
	3,000	U.S. Treasury Bond, 2.500%, 5/15/2046		3,366
	8,000	U.S. Treasury Bond, 2.875%, 11/15/2046		9,608
	11,000	U.S. Treasury Bond, 3.000%, 5/15/2045		13,399
	5,000	U.S. Treasury Bond, 3.000%, 2/15/2048		6,168
	7,000	U.S. Treasury Bond, 3.000%, 2/15/2049		8,676
	18,000	U.S. Treasury Note, 0.375%, 11/30/2025		17,828
	6,000	U.S. Treasury Note, 1.625%, 8/31/2022		6,099
	22,000	U.S. Treasury Note, 2.125%, 12/31/2022		22,620

				90,987

See accompanying notes to financial statements.

53 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Principal Amount		Description	Value (†)
		Utility Other — 0.1%
$	8,000	Essential Utilities, Inc., 4.276%, 5/01/2049	$	9,820

		Wireless — 0.1%
	3,000	Vodafone Group PLC, 6.150%, 2/27/2037		4,198

		Wirelines — 0.2%
	4,000	AT&T, Inc., 3.650%, 6/01/2051		4,239
	4,000	AT&T, Inc., 5.250%, 3/01/2037		5,083
	5,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		5,145

				14,467

		Total Bonds and Notes (Identified Cost $511,734)		519,019


Shares
	Exchange-Traded Funds — 8.9%
	9,181	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $658,173)		730,440


	Mutual Funds — 8.7%
	15,967	WCM Focused Emerging Markets Fund, Institutional Class		320,935
	14,054	WCM Focused International Growth Fund, Institutional Class		395,055

		Total Mutual Funds (Identified Cost $634,460)		715,990


	Affiliated Mutual Funds — 17.4%
	17,908	Loomis Sayles Inflation Protected Securities Fund, Class N		219,906
	15,295	Loomis Sayles Limited Term Government and Agency Fund, Class N		175,736
	27,919	Mirova Global Green Bond Fund, Class N		296,498
	49,403	Mirova International Sustainable Equity Fund, Class N		738,573

		Total Affiliated Mutual Funds (Identified Cost $1,318,159)		1,430,713


Principal Amount
	Short-Term Investments — 3.2%
$	260,871	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $260,871 on 8/02/2021 collateralized by $269,900 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $266,468 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $260,871)		260,871


		Total Investments — 100.5% (Identified Cost $7,102,920)		8,259,413
		Other assets less liabilities — (0.5)%		(38,060	)

		Net Assets — 100.0%	$	8,221,353


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $6,603 or 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	82.6	%
Fixed Income	14.7
Short-Term Investments	3.2

Total Investments	100.5
Other assets less liabilities	(0.5	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 54

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund


Shares		Description	Value (†)
	Common Stocks — 57.4% of Net Assets
		Aerospace & Defense — 0.9%
	30	Axon Enterprise, Inc.(a)	$	5,581
	197	Boeing Co. (The)(a)		44,617
	76	General Dynamics Corp.		14,898
	6	L3Harris Technologies, Inc.		1,360
	45	Moog, Inc., Class A		3,504
	87	Raytheon Technologies Corp.		7,565

				77,525

		Air Freight & Logistics — 0.4%
	174	Expeditors International of Washington, Inc.		22,315
	47	United Parcel Service, Inc., Class B		8,994

				31,309

		Airlines — 0.1%
	20	Alaska Air Group, Inc.(a)		1,161
	95	Delta Air Lines, Inc.(a)		3,790
	441	JetBlue Airways Corp.(a)		6,522

				11,473

		Auto Components — 0.2%
	12	Aptiv PLC(a)		2,002
	17	BorgWarner, Inc.		833
	298	Dana, Inc.		7,200
	40	Visteon Corp.(a)		4,562

				14,597

		Automobiles — 0.4%
	481	General Motors Co.(a)		27,340
	42	Thor Industries, Inc.		4,971

				32,311

		Banks — 2.7%
	214	Ameris Bancorp		10,402
	195	Bancorp, Inc. (The)(a)		4,557
	206	BancorpSouth Bank		5,315
	866	Bank of America Corp.		33,220
	485	Citigroup, Inc.		32,796
	161	Citizens Financial Group, Inc.		6,788
	12	Comerica, Inc.		824
	100	Cullen/Frost Bankers, Inc.		10,732
	68	Fifth Third Bancorp		2,468
	360	Fulton Financial Corp.		5,515
	96	Huntington Bancshares, Inc.		1,352
	183	International Bancshares Corp.		7,151
	235	KeyCorp		4,620
	13	M&T Bank Corp.		1,740
	251	People’s United Financial, Inc.		3,941
	93	PNC Financial Services Group, Inc. (The)		16,964
	273	Regions Financial Corp.		5,255
	283	Truist Financial Corp.		15,404
	283	Trustmark Corp.		8,496
	131	U.S. Bancorp		7,276
	172	Webster Financial Corp.		8,273
	492	Wells Fargo & Co.		22,602
	76	Wintrust Financial Corp.		5,426

				221,117

		Beverages — 1.6%
	227	Coca-Cola Co. (The)		12,946
	104	Constellation Brands, Inc., Class A		23,331
	1,027	Keurig Dr Pepper, Inc.		36,161
	507	Monster Beverage Corp.(a)		47,820
	82	PepsiCo, Inc.		12,870

				133,128

		Biotechnology — 1.8%
	58	AbbVie, Inc.		6,746
	166	Alnylam Pharmaceuticals, Inc.(a)		29,704
	54	Amgen, Inc.		13,043
	16	Biogen, Inc.(a)		5,228
	130	BioMarin Pharmaceutical, Inc.(a)		9,975
	149	CRISPR Therapeutics AG(a)		18,032
	39	Gilead Sciences, Inc.		2,663
	28	Ligand Pharmaceuticals, Inc.(a)		3,178
	107	Regeneron Pharmaceuticals, Inc.(a)		61,483

				150,052

		Building Products — 0.4%
	29	Carlisle Cos., Inc.		5,865
	42	Carrier Global Corp.		2,321
	38	Johnson Controls International PLC		2,714
	29	Lennox International, Inc.		9,553
	88	Owens Corning		8,462
	58	Trex Co., Inc.(a)		5,632

				34,547

		Capital Markets — 4.0%
	14	Ameriprise Financial, Inc.		3,606
	779	Bank of New York Mellon Corp. (The)		39,986
	11	BlackRock, Inc.		9,539
	488	Charles Schwab Corp. (The)		33,160
	20	CME Group, Inc.		4,243
	68	FactSet Research Systems, Inc.		24,295
	71	Franklin Resources, Inc.		2,098
	78	Goldman Sachs Group, Inc. (The)		29,241
	128	Intercontinental Exchange, Inc.		15,338
	24	Invesco Ltd.		585
	147	Janus Henderson Group PLC		6,150
	232	KKR & Co., Inc.		14,792
	35	Moody’s Corp.		13,160
	29	Morgan Stanley		2,783
	37	MSCI, Inc.		22,051
	141	Northern Trust Corp.		15,912
	49	S&P Global, Inc.		21,007
	278	SEI Investments Co.		16,902
	505	State Street Corp.		44,006
	7	T. Rowe Price Group, Inc.		1,429
	35	Virtus Investment Partners, Inc.		9,665

				329,948

		Chemicals — 0.6%
	10	Air Products & Chemicals, Inc.		2,910
	29	DuPont de Nemours, Inc.		2,176
	12	Ecolab, Inc.		2,650
	80	HB Fuller Co.		5,170
	57	Innospec, Inc.		5,042
	59	Linde PLC		18,136
	68	Minerals Technologies, Inc.		5,455
	11	PPG Industries, Inc.		1,799
	11	Sherwin-Williams Co. (The)		3,201
	39	Stepan Co.		4,600

				51,139

		Commercial Services & Supplies — 0.3%
	55	Healthcare Services Group, Inc.		1,435
	41	MSA Safety, Inc.		6,744
	10	Republic Services, Inc.		1,184
	60	Tetra Tech, Inc.		8,011
	86	Viad Corp.(a)		3,943
	18	Waste Management, Inc.		2,669

				23,986

See accompanying notes to financial statements.

55 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.7%
	42	Arista Networks, Inc.(a)	$	15,976
	98	Ciena Corp.(a)		5,698
	531	Cisco Systems, Inc.		29,402
	7	F5 Networks, Inc.(a)		1,446
	55	Lumentum Holdings, Inc.(a)		4,619

				57,141

		Construction & Engineering — 0.1%
	184	AECOM(a)		11,585

		Consumer Finance — 1.6%
	897	Ally Financial, Inc.		46,070
	196	American Express Co.		33,424
	292	Capital One Financial Corp.		47,216
	52	Green Dot Corp., Class A(a)		2,396
	37	PROG Holdings, Inc.		1,619

				130,725

		Containers & Packaging — 0.1%
	67	Ball Corp.		5,419
	55	International Paper Co.		3,177

				8,596

		Distributors — 0.1%
	44	Genuine Parts Co.		5,584

		Diversified Telecommunication Services — 0.3%
	214	AT&T, Inc.		6,003
	1,237	Lumen Technologies, Inc.		15,425

				21,428

		Electric Utilities — 0.6%
	140	American Electric Power Co., Inc.		12,337
	217	Edison International		11,826
	36	Eversource Energy		3,106
	54	IDACORP, Inc.		5,694
	212	NextEra Energy, Inc.		16,515
	38	PPL Corp.		1,078

				50,556

		Electrical Equipment — 0.5%
	18	Acuity Brands, Inc.		3,157
	50	Eaton Corp. PLC		7,902
	37	Hubbell, Inc.		7,417
	356	Plug Power, Inc.(a)		9,712
	34	Rockwell Automation, Inc.		10,452
	62	Sunrun, Inc.(a)		3,284

				41,924

		Electronic Equipment, Instruments & Components — 0.9%
	20	Amphenol Corp., Class A		1,450
	104	Avnet, Inc.		4,297
	105	Cognex Corp.		9,493
	23	Coherent, Inc.(a)		5,657
	36	Corning, Inc.		1,507
	136	Itron, Inc.(a)		13,412
	20	Littelfuse, Inc.		5,320
	20	Rogers Corp.(a)		3,812
	144	TE Connectivity Ltd.		21,236
	188	Vishay Intertechnology, Inc.		4,160

				70,344

		Energy Equipment & Services — 0.4%
	782	Archrock, Inc.		6,733
	128	Baker Hughes Co.		2,719
	233	ChampionX Corp.(a)		5,415
	88	NOV, Inc.(a)		1,215
	694	Schlumberger NV		20,008

				36,090

		Entertainment — 1.2%
	40	Activision Blizzard, Inc.		3,345
	68	Cinemark Holdings, Inc.(a)		1,056
	73	Electronic Arts, Inc.		10,509
	53	Netflix, Inc.(a)		27,431
	318	Walt Disney Co. (The)(a)		55,975

				98,316

		Food & Staples Retailing — 0.2%
	81	BJ’s Wholesale Club Holdings, Inc.(a)		4,102
	4	Costco Wholesale Corp.		1,719
	83	Kroger Co. (The)		3,378
	249	SpartanNash Co.		4,843
	20	Sysco Corp.		1,484
	71	Walgreens Boots Alliance, Inc.		3,348

				18,874

		Food Products — 0.4%
	79	Campbell Soup Co.		3,454
	21	Conagra Brands, Inc.		703
	99	Darling Ingredients, Inc.(a)		6,838
	59	General Mills, Inc.		3,473
	108	Hain Celestial Group, Inc. (The)(a)		4,310
	79	Hormel Foods Corp.		3,664
	54	Ingredion, Inc.		4,742
	17	J.M. Smucker Co. (The)		2,229
	30	Kellogg Co.		1,901
	15	McCormick & Co., Inc.		1,262

				32,576

		Gas Utilities — 0.2%
	110	New Jersey Resources Corp.		4,237
	62	ONE Gas, Inc.		4,574
	121	South Jersey Industries, Inc.		3,046
	132	UGI Corp.		6,071

				17,928

		Health Care Equipment & Supplies — 1.1%
	56	Abbott Laboratories		6,775
	12	Baxter International, Inc.		928
	9	Becton Dickinson & Co.		2,302
	44	Boston Scientific Corp.(a)		2,006
	8	Cooper Cos., Inc. (The)		3,374
	25	Danaher Corp.		7,437
	18	DENTSPLY SIRONA, Inc.		1,189
	58	Edwards Lifesciences Corp.(a)		6,512
	58	Globus Medical, Inc., Class A(a)		4,824
	25	Haemonetics Corp.(a)		1,520
	54	Hill-Rom Holdings, Inc.		7,477
	29	Hologic, Inc.(a)		2,176
	17	Intuitive Surgical, Inc.(a)		16,855
	44	Medtronic PLC		5,777
	114	Meridian Bioscience, Inc.(a)		2,337
	44	Merit Medical Systems, Inc.(a)		3,084
	29	Penumbra, Inc.(a)		7,721
	16	Quidel Corp.(a)		2,263
	27	STAAR Surgical Co.(a)		3,454
	6	STERIS PLC		1,308
	11	Stryker Corp.		2,980

				92,299

		Health Care Providers & Services — 2.1%
	19	Amedisys, Inc.(a)		4,952
	27	Anthem, Inc.		10,368
	151	Centene Corp.(a)		10,360
	13	Chemed Corp.		6,188
	33	Cigna Corp.		7,573

See accompanying notes to financial statements.

| 56

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	216	CVS Health Corp.	$	17,790
	53	Encompass Health Corp.		4,412
	171	HCA Healthcare, Inc.		42,442
	31	Henry Schein, Inc.(a)		2,485
	70	Humana, Inc.		29,810
	26	Laboratory Corp. of America Holdings(a)		7,700
	214	MEDNAX, Inc.(a)		6,232
	99	Patterson Cos., Inc.		3,082
	40	Quest Diagnostics, Inc.		5,672
	145	Select Medical Holdings Corp.		5,720
	31	UnitedHealth Group, Inc.		12,779

				177,565

		Health Care Technology — 0.2%
	341	Allscripts Healthcare Solutions, Inc.(a)		5,825
	157	Cerner Corp.		12,621

				18,446

		Hotels, Restaurants & Leisure — 1.9%
	14	Booking Holdings, Inc.(a)		30,496
	3	Chipotle Mexican Grill, Inc.(a)		5,590
	11	Expedia Group, Inc.(a)		1,770
	181	Hilton Worldwide Holdings, Inc.(a)		23,792
	64	Jack in the Box, Inc.		6,967
	18	McDonald’s Corp.		4,369
	24	Royal Caribbean Cruises Ltd.(a)		1,845
	72	Shake Shack, Inc., Class A(a)		7,239
	103	Six Flags Entertainment Corp.(a)		4,280
	279	Starbucks Corp.		33,879
	207	Wendy’s Co. (The)		4,804
	280	Yum China Holdings, Inc.		17,413
	95	Yum! Brands, Inc.		12,482

				154,926

		Household Durables — 0.3%
	166	KB Home		7,045
	124	Meritage Homes Corp.(a)		13,464
	223	Taylor Morrison Home Corp.(a)		5,981

				26,490

		Household Products — 0.5%
	8	Clorox Co. (The)		1,447
	252	Colgate-Palmolive Co.		20,034
	135	Kimberly-Clark Corp.		18,322

				39,803

		Independent Power & Renewable Electricity Producers — 0.3%
	91	AES Corp. (The)		2,157
	180	NextEra Energy Partners LP		13,955
	76	Ormat Technologies, Inc.		5,300
	111	Sunnova Energy International, Inc.(a)		4,229

				25,641

		Industrial Conglomerates — 0.3%
	1,685	General Electric Co.		21,821
	8	Honeywell International, Inc.		1,870

				23,691

		Insurance — 1.6%
	32	Aflac, Inc.		1,760
	43	Allstate Corp. (The)		5,592
	508	American International Group, Inc.		24,054
	76	Chubb Ltd.		12,824
	95	First American Financial Corp.		6,395
	36	Hanover Insurance Group, Inc. (The)		4,892
	146	Hartford Financial Services Group, Inc. (The)		9,289
		Insurance — continued
	13	Lincoln National Corp.		801
	50	Marsh & McLennan Cos., Inc.		7,361
	311	MetLife, Inc.		17,945
	69	Prudential Financial, Inc.		6,919
	252	Reinsurance Group of America, Inc.		27,765
	35	Travelers Cos., Inc. (The)		5,212

				130,809

		Interactive Media & Services — 3.2%
	27	Alphabet, Inc., Class A(a)		72,752
	31	Alphabet, Inc., Class C(a)		83,837
	303	Facebook, Inc., Class A(a)		107,959

				264,548

		Internet & Direct Marketing Retail — 2.1%
	221	Alibaba Group Holding Ltd., Sponsored ADR(a)		43,137
	23	Amazon.com, Inc.(a)		76,534
	641	eBay, Inc.		43,723
	7	Etsy, Inc.(a)		1,285
	700	Qurate Retail, Inc., Class A		8,302

				172,981

		IT Services — 3.3%
	62	Accenture PLC, Class A		19,696
	115	Akamai Technologies, Inc.(a)		13,791
	159	Automatic Data Processing, Inc.		33,331
	57	Cognizant Technology Solutions Corp., Class A		4,191
	667	DXC Technology Co.(a)		26,667
	221	Fiserv, Inc.(a)		25,439
	117	Gartner, Inc.(a)		30,973
	94	MasterCard, Inc., Class A		36,278
	30	Paychex, Inc.		3,415
	15	VeriSign, Inc.(a)		3,246
	293	Visa, Inc., Class A		72,192
	28	WEX, Inc.(a)		5,313

				274,532

		Leisure Products — 0.1%
	127	Callaway Golf Co.(a)		4,023

		Life Sciences Tools & Services — 0.9%
	24	Agilent Technologies, Inc.		3,678
	20	Bio-Techne Corp.		9,645
	64	Illumina, Inc.(a)		31,728
	116	NeoGenomics, Inc.(a)		5,348
	52	Repligen Corp.(a)		12,776
	13	Thermo Fisher Scientific, Inc.		7,020
	9	Waters Corp.(a)		3,508

				73,703

		Machinery — 1.6%
	69	AGCO Corp.		9,116
	77	Caterpillar, Inc.		15,920
	39	Chart Industries, Inc.(a)		6,062
	68	Cummins, Inc.		15,783
	119	Deere & Co.		43,029
	15	Illinois Tool Works, Inc.		3,400
	92	ITT, Inc.		9,008
	117	Kennametal, Inc.		4,241
	73	Oshkosh Corp.		8,727
	19	Parker-Hannifin Corp.		5,929
	16	Proto Labs, Inc.(a)		1,251
	93	Terex Corp.		4,456
	80	Toro Co. (The)		9,099

				136,021

See accompanying notes to financial statements.

57 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Media — 1.4%
	5	Cable One, Inc.	$	9,440
	47	Charter Communications, Inc., Class A(a)		34,970
	819	Comcast Corp., Class A		48,182
	127	Discovery, Inc., Series A(a)		3,684
	24	Discovery, Inc., Series C(a)		651
	80	Fox Corp., Class A		2,853
	69	Interpublic Group of Cos., Inc. (The)		2,440
	100	New York Times Co. (The), Class A		4,378
	85	News Corp., Class A		2,093
	94	Omnicom Group, Inc.		6,845

				115,536

		Metals & Mining — 0.4%
	295	Cleveland-Cliffs, Inc.(a)		7,375
	167	Commercial Metals Co.		5,477
	14	Nucor Corp.		1,456
	71	Reliance Steel & Aluminum Co.		11,158
	46	Royal Gold, Inc.		5,590

				31,056

		Multi-Utilities — 0.2%
	82	Consolidated Edison, Inc.		6,049
	31	DTE Energy Co.		3,637
	40	Sempra Energy		5,226
	20	WEC Energy Group, Inc.		1,883

				16,795

		Multiline Retail — 0.2%
	423	Macy’s, Inc.(a)		7,191
	48	Target Corp.		12,530

				19,721

		Oil, Gas & Consumable Fuels — 1.3%
	1,002	APA Corp.		18,787
	333	ConocoPhillips		18,668
	98	Devon Energy Corp.		2,532
	183	Diamondback Energy, Inc.		14,115
	15	DTE Midstream LLC(a)		636
	428	EOG Resources, Inc.		31,184
	171	EQT Corp.(a)		3,145
	212	Kinder Morgan, Inc.		3,685
	353	Marathon Oil Corp.		4,091
	85	ONEOK, Inc.		4,417
	529	Southwestern Energy Co.(a)		2,492
	62	Valero Energy Corp.		4,152
	89	World Fuel Services Corp.		3,067

				110,971

		Paper & Forest Products — 0.1%
	123	Louisiana-Pacific Corp.		6,819

		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		1,335

		Pharmaceuticals — 1.4%
	74	Bristol-Myers Squibb Co.		5,022
	37	Eli Lilly & Co.		9,010
	39	Jazz Pharmaceuticals PLC(a)		6,611
	245	Merck & Co., Inc.		18,833
	328	Novartis AG, Sponsored ADR		30,304
	118	Novo Nordisk A/S, Sponsored ADR		10,927
	24	Organon & Co.(a)		696
	38	Perrigo Co. PLC		1,825
	188	Pfizer, Inc.		8,048
	543	Roche Holding AG, Sponsored ADR		26,205
	8	Zoetis, Inc.		1,622

				119,103

		Professional Services — 0.3%
	74	Exponent, Inc.		7,925
	12	IHS Markit Ltd.		1,402
	28	Insperity, Inc.		2,773
	75	Korn Ferry		5,155
	45	ManpowerGroup, Inc.		5,336
	30	Nielsen Holdings PLC		711

				23,302

		Real Estate Management & Development — 0.3%
	140	CBRE Group, Inc., Class A(a)		13,505
	37	Jones Lang LaSalle, Inc.(a)		8,235

				21,740

		REITs – Apartments — 0.3%
	134	American Campus Communities, Inc.		6,741
	89	Camden Property Trust		13,296
	36	Equity Residential		3,029

				23,066

		REITs – Diversified — 0.3%
	48	American Tower Corp.		13,574
	8	Crown Castle International Corp.		1,545
	65	CyrusOne, Inc.		4,633
	71	Weyerhaeuser Co.		2,395

				22,147

		REITs – Health Care — 0.1%
	35	Ventas, Inc.		2,092
	18	Welltower, Inc.		1,564

				3,656

		REITs – Hotels — 0.0%
	116	Host Hotels & Resorts, Inc.(a)		1,848

		REITs – Mortgage — 0.1%
	193	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		10,962

		REITs – Office Property — 0.3%
	6	Boston Properties, Inc.		704
	202	Corporate Office Properties Trust		5,947
	228	Douglas Emmett, Inc.		7,615
	304	Easterly Government Properties, Inc.		6,901
	102	Kilroy Realty Corp.		7,066

				28,233

		REITs – Shopping Centers — 0.2%
	542	Brixmor Property Group, Inc.		12,477

		REITs – Storage — 0.0%
	27	Iron Mountain, Inc.		1,182

		REITs – Warehouse/Industrials — 0.1%
	85	ProLogis, Inc.		10,883

		Road & Rail — 0.3%
	102	CSX Corp.		3,297
	38	Norfolk Southern Corp.		9,797
	59	Ryder System, Inc.		4,493
	29	Union Pacific Corp.		6,344

				23,931

		Semiconductors & Semiconductor Equipment — 3.0%
	49	Advanced Micro Devices, Inc.(a)		5,203
	25	Analog Devices, Inc.		4,186
	40	Applied Materials, Inc.		5,597
	77	Cirrus Logic, Inc.(a)		6,359
	138	Cree, Inc.(a)		12,801
	45	Enphase Energy, Inc.(a)		8,532
	172	First Solar, Inc.(a)		14,799
	102	Ichor Holdings Ltd.(a)		5,260

See accompanying notes to financial statements.

| 58

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	189	Intel Corp.	$	10,153
	7	Lam Research Corp.		4,462
	39	Micron Technology, Inc.(a)		3,026
	514	NVIDIA Corp.		100,225
	5	NXP Semiconductors NV		1,032
	219	QUALCOMM, Inc.		32,806
	59	Silicon Laboratories, Inc.(a)		8,790
	74	Texas Instruments, Inc.		14,106
	32	Universal Display Corp.		7,504
	11	Xilinx, Inc.		1,648

				246,489

		Software — 4.1%
	36	Adobe, Inc.(a)		22,379
	35	ANSYS, Inc.(a)		12,896
	172	Autodesk, Inc.(a)		55,234
	39	Blackbaud, Inc.(a)		2,782
	64	Bottomline Technologies, Inc.(a)		2,583
	11	Citrix Systems, Inc.		1,108
	89	CommVault Systems, Inc.(a)		6,728
	20	Fair Isaac Corp.(a)		10,478
	224	Microsoft Corp.		63,820
	42	NortonLifeLock, Inc.		1,042
	706	Oracle Corp.		61,521
	38	Paylocity Holding Corp.(a)		7,884
	40	Qualys, Inc.(a)		4,062
	165	salesforce.com, Inc.(a)		39,919
	63	SPS Commerce, Inc.(a)		6,864
	186	Workday, Inc., Class A(a)		43,598

				342,898

		Specialty Retail — 1.1%
	136	American Eagle Outfitters, Inc.		4,688
	50	Asbury Automotive Group, Inc.(a)		10,273
	4	AutoZone, Inc.(a)		6,494
	33	Best Buy Co., Inc.		3,708
	61	Boot Barn Holdings, Inc.(a)		5,272
	25	Five Below, Inc.(a)		4,860
	17	GameStop Corp., Class A(a)		2,739
	69	Gap, Inc. (The)		2,013
	79	Home Depot, Inc. (The)		25,927
	31	Lithia Motors, Inc.		11,694
	16	Lowe’s Cos., Inc.		3,083
	39	Monro, Inc.		2,262
	18	TJX Cos., Inc. (The)		1,239
	9	Ulta Beauty, Inc.(a)		3,022
	49	Williams-Sonoma, Inc.		7,433

				94,707

		Technology Hardware, Storage & Peripherals — 0.6%
	1,225	Hewlett Packard Enterprise Co.		17,763
	755	HP, Inc.		21,797
	128	NCR Corp.(a)		5,683
	19	Seagate Technology Holdings PLC		1,670

				46,913

		Textiles, Apparel & Luxury Goods — 0.5%
	30	Deckers Outdoor Corp.(a)		12,326
	971	Under Armour, Inc., Class A(a)		19,857
	80	VF Corp.		6,416
	119	Wolverine World Wide, Inc.		3,991

				42,590

		Thrifts & Mortgage Finance — 0.1%
	167	Mr. Cooper Group, Inc.(a)		6,209

		Trading Companies & Distributors — 0.0%
	38	GATX Corp.		3,506

		Water Utilities — 0.3%
	45	American Water Works Co., Inc.		7,655
	301	Essential Utilities, Inc.		14,785

				22,440

		Wireless Telecommunication Services — 0.2%
	85	Shenandoah Telecommunications Co.		4,487
	84	T-Mobile US, Inc.(a)		12,098

				16,585

		Total Common Stocks (Identified Cost $3,824,847)		4,755,377


Principal Amount
	Bonds and Notes — 4.1%
		Automotive — 0.1%
$	4,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		4,531

		Banking — 0.6%
	2,000	American Express Co., 3.700%, 8/03/2023		2,127
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,025
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		2,002
	3,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		3,232
	2,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		2,141
	3,000	Citigroup, Inc., 4.600%, 3/09/2026		3,436
	1,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		1,019
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,191
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,123
	3,000	KeyCorp, MTN, 2.550%, 10/01/2029		3,182
	2,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		2,211
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,350
	2,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		2,146
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		2,112
	2,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		2,141
	2,000	State Street Corp., 2.400%, 1/24/2030		2,124
	3,000	Truist Bank, 3.200%, 4/01/2024		3,209
	3,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		3,216
	3,000	Westpac Banking Corp., 2.350%, 2/19/2025		3,166

				46,153

		Brokerage — 0.1%
	2,000	BlackRock, Inc., 2.400%, 4/30/2030		2,129
	2,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		2,024

				4,153

		Construction Machinery — 0.1%
	4,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		4,028
	1,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		1,010

				5,038

		Consumer Cyclical Services — 0.0%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,035

		Electric — 0.2%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,154
	4,000	Entergy Corp., 0.900%, 9/15/2025		3,978
	2,000	Exelon Corp., 4.050%, 4/15/2030		2,311
	2,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		2,055

See accompanying notes to financial statements.

59 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — continued
$	2,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030	$	2,134
	1,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		1,096
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,194

				15,922

		Finance Companies — 0.0%
	2,000	Ares Capital Corp., 3.250%, 7/15/2025		2,120

		Financial Other — 0.1%
	6,000	ORIX Corp., 2.900%, 7/18/2022		6,149

		Food & Beverage — 0.1%
	4,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		4,085
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,217
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,134

				8,436

		Government Owned – No Guarantee — 0.1%
	4,000	Federal National Mortgage Association, 6.625%, 11/15/2030		5,850

		Health Insurance — 0.1%
	3,000	Anthem, Inc., 4.101%, 3/01/2028		3,457
	3,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		4,295

				7,752

		Healthcare — 0.1%
	2,000	Cigna Corp., 3.750%, 7/15/2023		2,124
	2,000	CVS Health Corp., 4.300%, 3/25/2028		2,316
	2,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		2,092
	2,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		2,149

				8,681

		Independent Energy — 0.0%
	2,000	EQT Corp., 3.000%, 10/01/2022		2,028

		Integrated Energy — 0.1%
	3,000	BP Capital Markets PLC, 3.814%, 2/10/2024		3,240
	2,000	Exxon Mobil Corp., 2.992%, 3/19/2025		2,147
	2,000	Shell International Finance BV, 6.375%, 12/15/2038		2,982

				8,369

		Life Insurance — 0.0%
	1,000	Brighthouse Financial, Inc., 3.700%, 6/22/2027		1,105

		Media Entertainment — 0.0%
	2,000	ViacomCBS, Inc., 4.750%, 5/15/2025		2,266

		Midstream — 0.0%
	3,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		3,232

		Mortgage Related — 0.7%
	489	FHLMC, 3.000%, 6/01/2049		512
	17,980	FNMA, 2.000%, with various maturities in 2051(b)		18,347
	16,437	FNMA, 2.500%, with various maturities in 2051(b)		17,134
	13,966	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		14,663
	3,105	FNMA, 3.500%, with various maturities in 2049(b)		3,286
	821	FNMA, 4.000%, 3/01/2050		876
	901	FNMA, 4.500%, with various maturities in 2049(b)		972

				55,790

		Natural Gas — 0.0%
	4,000	NiSource, Inc., 0.950%, 8/15/2025		3,978

		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,185
	2,000	Amgen, Inc., 2.650%, 5/11/2022		2,033
	2,000	Biogen, Inc., 2.250%, 5/01/2030		2,037
		Pharmaceuticals — continued
	4,000	Johnson & Johnson, 1.300%, 9/01/2030		3,946

				10,201

		Property & Casualty Insurance — 0.0%
	2,000	American International Group, Inc., 3.400%, 6/30/2030		2,209

		Railroads — 0.1%
	4,000	CSX Corp., 2.600%, 11/01/2026		4,276

		REITs – Apartments — 0.0%
	2,000	Essex Portfolio LP, 3.000%, 1/15/2030		2,140

		REITs – Health Care — 0.0%
	2,000	Welltower, Inc., 2.800%, 6/01/2031		2,114

		REITs – Office Property — 0.0%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		2,146

		Restaurants — 0.0%
	2,000	Starbucks Corp., 2.250%, 3/12/2030		2,058

		Retailers — 0.0%
	2,000	Amazon.com, Inc., 3.875%, 8/22/2037		2,424

		Technology — 0.3%
	2,000	Apple, Inc., 2.500%, 2/09/2025		2,120
	2,000	Broadcom, Inc., 4.110%, 9/15/2028		2,257
	2,000	HP, Inc., 3.000%, 6/17/2027		2,159
	2,000	Intel Corp., 2.450%, 11/15/2029		2,108
	3,000	International Business Machines Corp., 4.000%, 6/20/2042		3,565
	2,000	NVIDIA Corp., 2.850%, 4/01/2030		2,187
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,134
	3,000	QUALCOMM, Inc., 1.650%, 5/20/2032		2,927
	2,000	VMware, Inc., 2.950%, 8/21/2022		2,048

				21,505

		Treasuries — 1.0%
	3,000	U.S. Treasury Bond, 2.250%, 5/15/2041		3,223
	3,000	U.S. Treasury Bond, 2.500%, 5/15/2046		3,366
	7,000	U.S. Treasury Bond, 2.875%, 11/15/2046		8,407
	8,000	U.S. Treasury Bond, 3.000%, 5/15/2045		9,745
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2048		4,935
	7,000	U.S. Treasury Bond, 3.000%, 2/15/2049		8,676
	13,000	U.S. Treasury Note, 0.375%, 11/30/2025		12,876
	3,000	U.S. Treasury Note, 1.125%, 9/30/2021		3,005
	9,000	U.S. Treasury Note, 1.625%, 8/31/2022		9,148
	15,000	U.S. Treasury Note, 2.125%, 12/31/2022		15,422

				78,803

		Utility Other — 0.0%
	3,000	Essential Utilities, Inc., 4.276%, 5/01/2049		3,683

		Wireless — 0.1%
	3,000	Vodafone Group PLC, 6.150%, 2/27/2037		4,198

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		2,120
	4,000	AT&T, Inc., 5.250%, 3/01/2037		5,082
	2,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		2,058

				9,260

		Total Bonds and Notes (Identified Cost $333,474)		338,605


Shares
	Exchange-Traded Funds — 10.1%
	10,545	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $743,542)		838,960

See accompanying notes to financial statements.

| 60

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
	Mutual Funds — 9.3%
	18,431	WCM Focused Emerging Markets Fund, Institutional Class	$	370,464
	14,149	WCM Focused International Growth Fund, Institutional Class		397,729

		Total Mutual Funds (Identified Cost $682,465)		768,193


	Affiliated Mutual Funds — 15.5%
	13,828	Loomis Sayles Inflation Protected Securities Fund, Class N		169,810
	11,328	Loomis Sayles Limited Term Government and Agency Fund, Class N		130,159
	13,457	Mirova Global Green Bond Fund, Class N		142,909
	56,422	Mirova International Sustainable Equity Fund, Class N		843,504

		Total Affiliated Mutual Funds (Identified Cost $1,183,199)		1,286,382


Principal Amount
	Short-Term Investments — 4.0%
$	330,693	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $330,693 on 8/02/2021 collateralized by $342,000 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $337,651 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $330,693)		330,693


		Total Investments — 100.4% (Identified Cost $7,098,220)		8,318,210
		Other assets less liabilities — (0.4)%		(33,198	)

		Net Assets — 100.0%	$	8,285,012


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	144A	All or a portion of these securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2021, the value of Rule 144A holdings amounted to $2,211 or less than 0.1% of net assets.
	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	87.0	%
Fixed Income	9.4
Short-Term Investments	4.0

Total Investments	100.4
Other assets less liabilities	(0.4	)

Net Assets	100.0	%

See accompanying notes to financial statements.

61 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund


Shares		Description	Value (†)
	Common Stocks — 59.0% of Net Assets
		Aerospace & Defense — 1.0%
	29	Axon Enterprise, Inc.(a)	$	5,395
	169	Boeing Co. (The)(a)		38,275
	70	General Dynamics Corp.		13,722
	7	L3Harris Technologies, Inc.		1,587
	41	Moog, Inc., Class A		3,193
	82	Raytheon Technologies Corp.		7,130

				69,302

		Air Freight & Logistics — 0.4%
	144	Expeditors International of Washington, Inc.		18,468
	44	United Parcel Service, Inc., Class B		8,420

				26,888

		Airlines — 0.2%
	20	Alaska Air Group, Inc.(a)		1,161
	96	Delta Air Lines, Inc.(a)		3,830
	409	JetBlue Airways Corp.(a)		6,049

				11,040

		Auto Components — 0.2%
	13	Aptiv PLC(a)		2,169
	17	BorgWarner, Inc.		833
	276	Dana, Inc.		6,668
	35	Visteon Corp.(a)		3,992

				13,662

		Automobiles — 0.4%
	426	General Motors Co.(a)		24,214
	40	Thor Industries, Inc.		4,734

				28,948

		Banks — 2.8%
	195	Ameris Bancorp		9,479
	177	Bancorp, Inc. (The)(a)		4,136
	182	BancorpSouth Bank		4,696
	768	Bank of America Corp.		29,460
	430	Citigroup, Inc.		29,077
	157	Citizens Financial Group, Inc.		6,619
	10	Comerica, Inc.		687
	92	Cullen/Frost Bankers, Inc.		9,873
	59	Fifth Third Bancorp		2,141
	340	Fulton Financial Corp.		5,209
	67	Huntington Bancshares, Inc.		943
	170	International Bancshares Corp.		6,644
	225	KeyCorp		4,424
	11	M&T Bank Corp.		1,472
	243	People’s United Financial, Inc.		3,815
	88	PNC Financial Services Group, Inc. (The)		16,052
	260	Regions Financial Corp.		5,005
	263	Truist Financial Corp.		14,315
	260	Trustmark Corp.		7,805
	119	U.S. Bancorp		6,609
	157	Webster Financial Corp.		7,552
	436	Wells Fargo & Co.		20,030
	69	Wintrust Financial Corp.		4,927

				200,970

		Beverages — 1.6%
	215	Coca-Cola Co. (The)		12,261
	92	Constellation Brands, Inc., Class A		20,639
	926	Keurig Dr Pepper, Inc.		32,605
	440	Monster Beverage Corp.(a)		41,501
	78	PepsiCo, Inc.		12,242

				119,248

		Biotechnology — 1.8%
	50	AbbVie, Inc.		5,815
	146	Alnylam Pharmaceuticals, Inc.(a)		26,125
	49	Amgen, Inc.		11,836
	17	Biogen, Inc.(a)		5,554
	118	BioMarin Pharmaceutical, Inc.(a)		9,054
	131	CRISPR Therapeutics AG(a)		15,854
	36	Gilead Sciences, Inc.		2,459
	26	Ligand Pharmaceuticals, Inc.(a)		2,951
	94	Regeneron Pharmaceuticals, Inc.(a)		54,013

				133,661

		Building Products — 0.4%
	27	Carlisle Cos., Inc.		5,460
	39	Carrier Global Corp.		2,155
	33	Johnson Controls International PLC		2,357
	27	Lennox International, Inc.		8,895
	81	Owens Corning		7,789
	54	Trex Co., Inc.(a)		5,243

				31,899

		Capital Markets — 4.1%
	12	Ameriprise Financial, Inc.		3,091
	695	Bank of New York Mellon Corp. (The)		35,674
	10	BlackRock, Inc.		8,672
	436	Charles Schwab Corp. (The)		29,626
	20	CME Group, Inc.		4,243
	67	FactSet Research Systems, Inc.		23,938
	75	Franklin Resources, Inc.		2,216
	69	Goldman Sachs Group, Inc. (The)		25,867
	118	Intercontinental Exchange, Inc.		14,140
	19	Invesco Ltd.		463
	134	Janus Henderson Group PLC		5,607
	205	KKR & Co., Inc.		13,071
	31	Moody’s Corp.		11,656
	28	Morgan Stanley		2,687
	37	MSCI, Inc.		22,050
	133	Northern Trust Corp.		15,009
	44	S&P Global, Inc.		18,864
	246	SEI Investments Co.		14,957
	450	State Street Corp.		39,213
	7	T. Rowe Price Group, Inc.		1,429
	33	Virtus Investment Partners, Inc.		9,112

				301,585

		Chemicals — 0.7%
	10	Air Products & Chemicals, Inc.		2,910
	31	DuPont de Nemours, Inc.		2,327
	11	Ecolab, Inc.		2,429
	73	HB Fuller Co.		4,717
	53	Innospec, Inc.		4,688
	55	Linde PLC		16,907
	62	Minerals Technologies, Inc.		4,974
	10	PPG Industries, Inc.		1,635
	9	Sherwin-Williams Co. (The)		2,619
	37	Stepan Co.		4,364

				47,570

		Commercial Services & Supplies — 0.3%
	67	Healthcare Services Group, Inc.		1,749
	38	MSA Safety, Inc.		6,250
	10	Republic Services, Inc.		1,184
	57	Tetra Tech, Inc.		7,611
	78	Viad Corp.(a)		3,576
	17	Waste Management, Inc.		2,520

				22,890

See accompanying notes to financial statements.

| 62

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.7%
	36	Arista Networks, Inc.(a)	$	13,694
	86	Ciena Corp.(a)		5,000
	469	Cisco Systems, Inc.		25,969
	7	F5 Networks, Inc.(a)		1,446
	48	Lumentum Holdings, Inc.(a)		4,031

				50,140

		Construction & Engineering — 0.1%
	174	AECOM(a)		10,955

		Consumer Finance — 1.6%
	794	Ally Financial, Inc.		40,780
	177	American Express Co.		30,184
	259	Capital One Financial Corp.		41,880
	45	Green Dot Corp., Class A(a)		2,073
	43	PROG Holdings, Inc.		1,882

				116,799

		Containers & Packaging — 0.1%
	64	Ball Corp.		5,176
	54	International Paper Co.		3,119

				8,295

		Distributors — 0.1%
	41	Genuine Parts Co.		5,204

		Diversified Telecommunication Services — 0.3%
	194	AT&T, Inc.		5,442
	1,134	Lumen Technologies, Inc.		14,141

				19,583

		Electric Utilities — 0.6%
	132	American Electric Power Co., Inc.		11,632
	202	Edison International		11,009
	34	Eversource Energy		2,933
	48	IDACORP, Inc.		5,062
	188	NextEra Energy, Inc.		14,645
	47	PPL Corp.		1,333

				46,614

		Electrical Equipment — 0.6%
	20	Acuity Brands, Inc.		3,508
	48	Eaton Corp. PLC		7,586
	35	Hubbell, Inc.		7,016
	333	Plug Power, Inc.(a)		9,084
	32	Rockwell Automation, Inc.		9,838
	58	Sunrun, Inc.(a)		3,072

				40,104

		Electronic Equipment, Instruments & Components — 0.9%
	24	Amphenol Corp., Class A		1,740
	91	Avnet, Inc.		3,760
	96	Cognex Corp.		8,679
	21	Coherent, Inc.(a)		5,165
	37	Corning, Inc.		1,549
	124	Itron, Inc.(a)		12,229
	19	Littelfuse, Inc.		5,054
	18	Rogers Corp.(a)		3,431
	128	TE Connectivity Ltd.		18,876
	163	Vishay Intertechnology, Inc.		3,607

				64,090

		Energy Equipment & Services — 0.5%
	725	Archrock, Inc.		6,242
	119	Baker Hughes Co.		2,528
	212	ChampionX Corp.(a)		4,927
	83	NOV, Inc.(a)		1,146
	656	Schlumberger NV		18,912

				33,755

		Entertainment — 1.2%
	39	Activision Blizzard, Inc.		3,261
	78	Cinemark Holdings, Inc.(a)		1,211
	68	Electronic Arts, Inc.		9,789
	47	Netflix, Inc.(a)		24,326
	286	Walt Disney Co. (The)(a)		50,342

				88,929

		Food & Staples Retailing — 0.2%
	74	BJ’s Wholesale Club Holdings, Inc.(a)		3,747
	3	Costco Wholesale Corp.		1,289
	83	Kroger Co. (The)		3,378
	230	SpartanNash Co.		4,473
	13	Sysco Corp.		965
	71	Walgreens Boots Alliance, Inc.		3,348

				17,200

		Food Products — 0.4%
	79	Campbell Soup Co.		3,454
	25	Conagra Brands, Inc.		837
	93	Darling Ingredients, Inc.(a)		6,423
	58	General Mills, Inc.		3,414
	98	Hain Celestial Group, Inc. (The)(a)		3,911
	78	Hormel Foods Corp.		3,617
	48	Ingredion, Inc.		4,215
	16	J.M. Smucker Co. (The)		2,098
	30	Kellogg Co.		1,901
	16	McCormick & Co., Inc.		1,347

				31,217

		Gas Utilities — 0.2%
	97	New Jersey Resources Corp.		3,736
	55	ONE Gas, Inc.		4,058
	114	South Jersey Industries, Inc.		2,869
	125	UGI Corp.		5,749

				16,412

		Health Care Equipment & Supplies — 1.2%
	50	Abbott Laboratories		6,049
	13	Baxter International, Inc.		1,006
	7	Becton Dickinson & Co.		1,790
	37	Boston Scientific Corp.(a)		1,687
	7	Cooper Cos., Inc. (The)		2,952
	22	Danaher Corp.		6,545
	15	DENTSPLY SIRONA, Inc.		991
	52	Edwards Lifesciences Corp.(a)		5,838
	53	Globus Medical, Inc., Class A(a)		4,408
	27	Haemonetics Corp.(a)		1,641
	50	Hill-Rom Holdings, Inc.		6,923
	28	Hologic, Inc.(a)		2,101
	16	Intuitive Surgical, Inc.(a)		15,863
	37	Medtronic PLC		4,859
	114	Meridian Bioscience, Inc.(a)		2,337
	36	Merit Medical Systems, Inc.(a)		2,523
	27	Penumbra, Inc.(a)		7,188
	14	Quidel Corp.(a)		1,981
	24	STAAR Surgical Co.(a)		3,070
	7	STERIS PLC		1,526
	10	Stryker Corp.		2,709

				83,987

		Health Care Providers & Services — 2.2%
	19	Amedisys, Inc.(a)		4,952
	24	Anthem, Inc.		9,216
	145	Centene Corp.(a)		9,948
	13	Chemed Corp.		6,188

See accompanying notes to financial statements.

63 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	32	Cigna Corp.	$	7,344
	191	CVS Health Corp.		15,731
	46	Encompass Health Corp.		3,830
	155	HCA Healthcare, Inc.		38,471
	32	Henry Schein, Inc.(a)		2,565
	62	Humana, Inc.		26,403
	24	Laboratory Corp. of America Holdings(a)		7,108
	202	MEDNAX, Inc.(a)		5,882
	92	Patterson Cos., Inc.		2,864
	39	Quest Diagnostics, Inc.		5,530
	132	Select Medical Holdings Corp.		5,207
	26	UnitedHealth Group, Inc.		10,718

				161,957

		Health Care Technology — 0.2%
	311	Allscripts Healthcare Solutions, Inc.(a)		5,312
	141	Cerner Corp.		11,335

				16,647

		Hotels, Restaurants & Leisure — 1.9%
	12	Booking Holdings, Inc.(a)		26,139
	3	Chipotle Mexican Grill, Inc.(a)		5,590
	10	Expedia Group, Inc.(a)		1,609
	160	Hilton Worldwide Holdings, Inc.(a)		21,032
	60	Jack in the Box, Inc.		6,532
	18	McDonald’s Corp.		4,369
	21	Royal Caribbean Cruises Ltd.(a)		1,614
	68	Shake Shack, Inc., Class A(a)		6,837
	94	Six Flags Entertainment Corp.(a)		3,906
	252	Starbucks Corp.		30,600
	182	Wendy’s Co. (The)		4,224
	249	Yum China Holdings, Inc.		15,485
	84	Yum! Brands, Inc.		11,037

				138,974

		Household Durables — 0.3%
	154	KB Home		6,536
	114	Meritage Homes Corp.(a)		12,378
	197	Taylor Morrison Home Corp.(a)		5,283

				24,197

		Household Products — 0.5%
	8	Clorox Co. (The)		1,447
	227	Colgate-Palmolive Co.		18,047
	120	Kimberly-Clark Corp.		16,286

				35,780

		Independent Power & Renewable Electricity Producers — 0.3%
	85	AES Corp. (The)		2,015
	164	NextEra Energy Partners LP		12,715
	68	Ormat Technologies, Inc.		4,742
	102	Sunnova Energy International, Inc.(a)		3,886

				23,358

		Industrial Conglomerates — 0.3%
	1,493	General Electric Co.		19,335
	8	Honeywell International, Inc.		1,870

				21,205

		Insurance — 1.6%
	30	Aflac, Inc.		1,650
	40	Allstate Corp. (The)		5,202
	450	American International Group, Inc.		21,307
	71	Chubb Ltd.		11,981
	87	First American Financial Corp.		5,856
	32	Hanover Insurance Group, Inc. (The)		4,349
	135	Hartford Financial Services Group, Inc. (The)		8,589
		Insurance — continued
	14	Lincoln National Corp.		863
	47	Marsh & McLennan Cos., Inc.		6,919
	284	MetLife, Inc.		16,387
	65	Prudential Financial, Inc.		6,518
	227	Reinsurance Group of America, Inc.		25,011
	33	Travelers Cos., Inc. (The)		4,914

				119,546

		Interactive Media & Services — 3.2%
	24	Alphabet, Inc., Class A(a)		64,669
	28	Alphabet, Inc., Class C(a)		75,724
	267	Facebook, Inc., Class A(a)		95,132

				235,525

		Internet & Direct Marketing Retail — 2.1%
	202	Alibaba Group Holding Ltd., Sponsored ADR(a)		39,428
	20	Amazon.com, Inc.(a)		66,552
	568	eBay, Inc.		38,743
	6	Etsy, Inc.(a)		1,101
	601	Qurate Retail, Inc., Class A		7,128

				152,952

		IT Services — 3.4%
	55	Accenture PLC, Class A		17,472
	105	Akamai Technologies, Inc.(a)		12,592
	142	Automatic Data Processing, Inc.		29,767
	56	Cognizant Technology Solutions Corp., Class A		4,118
	589	DXC Technology Co.(a)		23,548
	196	Fiserv, Inc.(a)		22,562
	104	Gartner, Inc.(a)		27,532
	82	MasterCard, Inc., Class A		31,647
	28	Paychex, Inc.		3,187
	15	VeriSign, Inc.(a)		3,245
	261	Visa, Inc., Class A		64,308
	26	WEX, Inc.(a)		4,933

				244,911

		Leisure Products — 0.1%
	116	Callaway Golf Co.(a)		3,675

		Life Sciences Tools & Services — 0.9%
	23	Agilent Technologies, Inc.		3,524
	19	Bio-Techne Corp.		9,163
	59	Illumina, Inc.(a)		29,249
	106	NeoGenomics, Inc.(a)		4,887
	48	Repligen Corp.(a)		11,794
	11	Thermo Fisher Scientific, Inc.		5,940
	8	Waters Corp.(a)		3,118

				67,675

		Machinery — 1.7%
	64	AGCO Corp.		8,455
	72	Caterpillar, Inc.		14,886
	35	Chart Industries, Inc.(a)		5,441
	62	Cummins, Inc.		14,390
	108	Deere & Co.		39,052
	14	Illinois Tool Works, Inc.		3,173
	85	ITT, Inc.		8,322
	103	Kennametal, Inc.		3,734
	67	Oshkosh Corp.		8,010
	17	Parker-Hannifin Corp.		5,304
	19	Proto Labs, Inc.(a)		1,486
	80	Terex Corp.		3,833
	74	Toro Co. (The)		8,417

				124,503

See accompanying notes to financial statements.

| 64

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Media — 1.4%
	4	Cable One, Inc.	$	7,552
	40	Charter Communications, Inc., Class A(a)		29,762
	722	Comcast Corp., Class A		42,475
	113	Discovery, Inc., Series A(a)		3,278
	24	Discovery, Inc., Series C(a)		651
	68	Fox Corp., Class A		2,425
	60	Interpublic Group of Cos., Inc. (The)		2,121
	88	New York Times Co. (The), Class A		3,853
	76	News Corp., Class A		1,872
	91	Omnicom Group, Inc.		6,627

				100,616

		Metals & Mining — 0.4%
	269	Cleveland-Cliffs, Inc.(a)		6,725
	157	Commercial Metals Co.		5,150
	13	Nucor Corp.		1,352
	65	Reliance Steel & Aluminum Co.		10,215
	43	Royal Gold, Inc.		5,225

				28,667

		Multi-Utilities — 0.2%
	80	Consolidated Edison, Inc.		5,902
	33	DTE Energy Co.		3,871
	35	Sempra Energy		4,573
	22	WEC Energy Group, Inc.		2,071

				16,417

		Multiline Retail — 0.2%
	390	Macy’s, Inc.(a)		6,630
	42	Target Corp.		10,964

				17,594

		Oil, Gas & Consumable Fuels — 1.4%
	888	APA Corp.		16,650
	298	ConocoPhillips		16,706
	94	Devon Energy Corp.		2,429
	162	Diamondback Energy, Inc.		12,495
	16	DTE Midstream LLC(a)		678
	380	EOG Resources, Inc.		27,687
	158	EQT Corp.(a)		2,906
	217	Kinder Morgan, Inc.		3,771
	362	Marathon Oil Corp.		4,196
	80	ONEOK, Inc.		4,158
	435	Southwestern Energy Co.(a)		2,049
	59	Valero Energy Corp.		3,951
	75	World Fuel Services Corp.		2,584

				100,260

		Paper & Forest Products — 0.1%
	114	Louisiana-Pacific Corp.		6,320

		Personal Products — 0.0%
	4	Estee Lauder Cos., Inc. (The), Class A		1,335

		Pharmaceuticals — 1.5%
	65	Bristol-Myers Squibb Co.		4,412
	34	Eli Lilly & Co.		8,279
	37	Jazz Pharmaceuticals PLC(a)		6,272
	225	Merck & Co., Inc.		17,296
	293	Novartis AG, Sponsored ADR		27,070
	107	Novo Nordisk A/S, Sponsored ADR		9,908
	22	Organon & Co.(a)		638
	44	Perrigo Co. PLC		2,113
	167	Pfizer, Inc.		7,149
	480	Roche Holding AG, Sponsored ADR		23,165
	8	Zoetis, Inc.		1,622

				107,924

		Professional Services — 0.3%
	70	Exponent, Inc.		7,496
	12	IHS Markit Ltd.		1,402
	25	Insperity, Inc.		2,476
	66	Korn Ferry		4,537
	39	ManpowerGroup, Inc.		4,625
	31	Nielsen Holdings PLC		734

				21,270

		Real Estate Management & Development — 0.3%
	124	CBRE Group, Inc., Class A(a)		11,961
	35	Jones Lang LaSalle, Inc.(a)		7,790

				19,751

		REITs – Apartments — 0.3%
	127	American Campus Communities, Inc.		6,390
	82	Camden Property Trust		12,250
	33	Equity Residential		2,776

				21,416

		REITs – Diversified — 0.3%
	44	American Tower Corp.		12,443
	8	Crown Castle International Corp.		1,545
	57	CyrusOne, Inc.		4,062
	66	Weyerhaeuser Co.		2,226

				20,276

		REITs – Health Care — 0.0%
	37	Ventas, Inc.		2,212
	16	Welltower, Inc.		1,390

				3,602

		REITs – Hotels — 0.0%
	115	Host Hotels & Resorts, Inc.(a)		1,832

		REITs – Mortgage — 0.1%
	174	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		9,883

		REITs – Office Property — 0.4%
	7	Boston Properties, Inc.		822
	179	Corporate Office Properties Trust		5,270
	211	Douglas Emmett, Inc.		7,047
	287	Easterly Government Properties, Inc.		6,515
	94	Kilroy Realty Corp.		6,511

				26,165

		REITs – Shopping Centers — 0.2%
	510	Brixmor Property Group, Inc.		11,740

		REITs – Storage — 0.0%
	23	Iron Mountain, Inc.		1,006

		REITs – Warehouse/Industrials — 0.1%
	78	ProLogis, Inc.		9,987

		Road & Rail — 0.3%
	90	CSX Corp.		2,909
	36	Norfolk Southern Corp.		9,282
	54	Ryder System, Inc.		4,112
	26	Union Pacific Corp.		5,688

				21,991

		Semiconductors & Semiconductor Equipment — 3.1%
	49	Advanced Micro Devices, Inc.(a)		5,203
	21	Analog Devices, Inc.		3,516
	37	Applied Materials, Inc.		5,177
	73	Cirrus Logic, Inc.(a)		6,029
	125	Cree, Inc.(a)		11,595
	43	Enphase Energy, Inc.(a)		8,153
	159	First Solar, Inc.(a)		13,680

See accompanying notes to financial statements.

65 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	93	Ichor Holdings Ltd.(a)	$	4,796
	170	Intel Corp.		9,132
	7	Lam Research Corp.		4,462
	37	Micron Technology, Inc.(a)		2,871
	457	NVIDIA Corp.		89,110
	5	NXP Semiconductors NV		1,032
	190	QUALCOMM, Inc.		28,462
	55	Silicon Laboratories, Inc.(a)		8,195
	69	Texas Instruments, Inc.		13,153
	31	Universal Display Corp.		7,269
	7	Xilinx, Inc.		1,049

				222,884

		Software — 4.2%
	31	Adobe, Inc.(a)		19,271
	31	ANSYS, Inc.(a)		11,422
	153	Autodesk, Inc.(a)		49,133
	43	Blackbaud, Inc.(a)		3,067
	56	Bottomline Technologies, Inc.(a)		2,260
	12	Citrix Systems, Inc.		1,209
	81	CommVault Systems, Inc.(a)		6,123
	19	Fair Isaac Corp.(a)		9,954
	198	Microsoft Corp.		56,412
	43	NortonLifeLock, Inc.		1,067
	615	Oracle Corp.		53,591
	36	Paylocity Holding Corp.(a)		7,469
	35	Qualys, Inc.(a)		3,555
	152	salesforce.com, Inc.(a)		36,773
	58	SPS Commerce, Inc.(a)		6,319
	164	Workday, Inc., Class A(a)		38,442

				306,067

		Specialty Retail — 1.2%
	119	American Eagle Outfitters, Inc.		4,102
	46	Asbury Automotive Group, Inc.(a)		9,451
	3	AutoZone, Inc.(a)		4,871
	31	Best Buy Co., Inc.		3,483
	55	Boot Barn Holdings, Inc.(a)		4,753
	22	Five Below, Inc.(a)		4,277
	15	GameStop Corp., Class A(a)		2,417
	60	Gap, Inc. (The)		1,750
	71	Home Depot, Inc. (The)		23,302
	29	Lithia Motors, Inc.		10,939
	14	Lowe’s Cos., Inc.		2,698
	36	Monro, Inc.		2,088
	17	TJX Cos., Inc. (The)		1,170
	8	Ulta Beauty, Inc.(a)		2,686
	47	Williams-Sonoma, Inc.		7,130

				85,117

		Technology Hardware, Storage & Peripherals — 0.6%
	1,110	Hewlett Packard Enterprise Co.		16,095
	671	HP, Inc.		19,372
	117	NCR Corp.(a)		5,195
	17	Seagate Technology Holdings PLC		1,494

				42,156

		Textiles, Apparel & Luxury Goods — 0.5%
	28	Deckers Outdoor Corp.(a)		11,504
	876	Under Armour, Inc., Class A(a)		17,914
	74	VF Corp.		5,935
	104	Wolverine World Wide, Inc.		3,488

				38,841

		Thrifts & Mortgage Finance — 0.1%
	153	Mr. Cooper Group, Inc.(a)		5,689

		Trading Companies & Distributors — 0.0%
	35	GATX Corp.		3,229

		Water Utilities — 0.3%
	42	American Water Works Co., Inc.		7,144
	274	Essential Utilities, Inc.		13,459

				20,603

		Wireless Telecommunication Services — 0.2%
	75	Shenandoah Telecommunications Co.		3,959
	75	T-Mobile US, Inc.(a)		10,802

				14,761

		Total Common Stocks (Identified Cost $3,433,641)		4,299,251


Principal Amount
	Bonds and Notes — 4.1%
		Automotive — 0.0%
$	2,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		2,265

		Banking — 0.6%
	2,000	American Express Co., 3.700%, 8/03/2023		2,127
	3,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		3,038
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		2,002
	2,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		2,155
	2,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		2,141
	3,000	Citigroup, Inc., 4.600%, 3/09/2026		3,436
	1,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		1,019
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,191
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,122
	3,000	KeyCorp, MTN, 2.550%, 10/01/2029		3,182
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,350
	4,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		4,291
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		2,112
	2,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		2,141
	2,000	State Street Corp., 2.400%, 1/24/2030		2,124
	3,000	Truist Bank, 3.200%, 4/01/2024		3,209
	3,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		3,216
	2,000	Westpac Banking Corp., 2.350%, 2/19/2025		2,111

				44,967

		Brokerage — 0.1%
	2,000	BlackRock, Inc., 2.400%, 4/30/2030		2,129
	2,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		2,024

				4,153

		Chemicals — 0.0%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		2,649

		Construction Machinery — 0.1%
	3,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		3,021
	2,000	John Deere Capital Corp., MTN, 2.650%, 1/06/2022		2,020

				5,041

		Consumer Cyclical Services — 0.0%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,035

		Electric — 0.2%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,154
	2,000	Entergy Corp., 0.900%, 9/15/2025		1,989
	2,000	Exelon Corp., 4.050%, 4/15/2030		2,311

See accompanying notes to financial statements.

| 66

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — continued
$	2,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030	$	2,054
	1,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		1,067
	1,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		1,096
	4,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		4,388

				15,059

		Finance Companies — 0.0%
	2,000	Ares Capital Corp., 3.250%, 7/15/2025		2,120

		Financial Other — 0.0%
	2,000	ORIX Corp., 2.900%, 7/18/2022		2,050

		Food & Beverage — 0.1%
	3,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		3,064
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,217
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,134

				7,415

		Government Owned – No Guarantee — 0.1%
	3,000	Federal National Mortgage Association, 6.625%, 11/15/2030		4,387

		Health Insurance — 0.1%
	3,000	Anthem, Inc., 4.101%, 3/01/2028		3,457
	2,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		2,864

				6,321

		Healthcare — 0.2%
	2,000	Cigna Corp., 3.750%, 7/15/2023		2,124
	4,000	CVS Health Corp., 4.300%, 3/25/2028		4,632
	2,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		2,092
	2,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		2,149

				10,997

		Independent Energy — 0.1%
	4,000	EQT Corp., 3.000%, 10/01/2022		4,055

		Integrated Energy — 0.1%
	2,000	BP Capital Markets PLC, 3.814%, 2/10/2024		2,160
	2,000	Exxon Mobil Corp., 2.992%, 3/19/2025		2,147
	2,000	Shell International Finance BV, 6.375%, 12/15/2038		2,982

				7,289

		Life Insurance — 0.0%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567

		Media Entertainment — 0.0%
	2,000	ViacomCBS, Inc., 4.750%, 5/15/2025		2,266

		Midstream — 0.1%
	3,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		3,232

		Mortgage Related — 0.7%
	245	FHLMC, 3.000%, 6/01/2049		256
	15,922	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		16,247
	15,417	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		16,071
	9,349	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		9,814
	2,858	FNMA, 3.500%, with various maturities in 2049(b)		3,027
	821	FNMA, 4.000%, 3/01/2050		876
	901	FNMA, 4.500%, with various maturities in 2049(b)		972

				47,263

		Natural Gas — 0.1%
	4,000	NiSource, Inc., 0.950%, 8/15/2025		3,978

		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,185
	2,000	Amgen, Inc., 2.650%, 5/11/2022		2,033
	4,000	Johnson & Johnson, 1.300%, 9/01/2030		3,946

				8,164

		Property & Casualty Insurance — 0.0%
	2,000	American International Group, Inc., 3.400%, 6/30/2030		2,210

		Railroads — 0.0%
	2,000	CSX Corp., 2.600%, 11/01/2026		2,138

		REITs – Office Property — 0.0%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		2,146

		REITs – Retail — 0.0%
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		2,025

		Restaurants — 0.0%
	2,000	Starbucks Corp., 2.250%, 3/12/2030		2,058

		Retailers — 0.0%
	2,000	Amazon.com, Inc., 3.875%, 8/22/2037		2,424

		Technology — 0.3%
	3,000	Apple, Inc., 2.500%, 2/09/2025		3,180
	2,000	Broadcom, Inc., 4.110%, 9/15/2028		2,257
	2,000	HP, Inc., 3.000%, 6/17/2027		2,159
	3,000	International Business Machines Corp., 4.000%, 6/20/2042		3,566
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,134
	4,000	QUALCOMM, Inc., 1.650%, 5/20/2032		3,902
	2,000	VMware, Inc., 2.950%, 8/21/2022		2,048

				19,246

		Treasuries — 0.9%
	4,000	U.S. Treasury Bond, 2.250%, 5/15/2041		4,297
	3,000	U.S. Treasury Bond, 2.500%, 5/15/2046		3,366
	6,000	U.S. Treasury Bond, 2.875%, 11/15/2046		7,206
	6,000	U.S. Treasury Bond, 3.000%, 5/15/2045		7,309
	3,000	U.S. Treasury Bond, 3.000%, 2/15/2048		3,701
	6,000	U.S. Treasury Bond, 3.000%, 2/15/2049		7,437
	10,000	U.S. Treasury Note, 0.375%, 11/30/2025		9,904
	2,000	U.S. Treasury Note, 1.250%, 3/31/2028		2,037
	7,000	U.S. Treasury Note, 1.625%, 8/31/2022		7,115
	13,000	U.S. Treasury Note, 2.125%, 12/31/2022		13,366

				65,738

		Wireless — 0.1%
	2,000	Vodafone Group PLC, 6.150%, 2/27/2037		2,799

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		2,120
	2,000	AT&T, Inc., 5.250%, 3/01/2037		2,541
	2,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		2,058

				6,719

		Total Bonds and Notes (Identified Cost $292,203)		295,776


Shares
	Exchange-Traded Funds — 11.2%
	10,253	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $740,447)		815,729

See accompanying notes to financial statements.

67 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
	Mutual Funds — 9.5%
	17,033	WCM Focused Emerging Markets Fund, Institutional Class	$	342,362
	12,510	WCM Focused International Growth Fund, Institutional Class		351,649

		Total Mutual Funds (Identified Cost $623,952)		694,011


	Affiliated Mutual Funds — 13.2%
	1,377	Loomis Sayles Inflation Protected Securities Fund, Class N		16,909
	10,210	Mirova Global Green Bond Fund, Class N		108,427
	55,579	Mirova International Sustainable Equity Fund, Class N		830,903

		Total Affiliated Mutual Funds (Identified Cost $869,555)		956,239


Principal Amount
	Short-Term Investments — 3.3%
$	242,354	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $242,354 on 8/02/2021 collateralized by $250,800 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $247,610 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $242,354)		242,354


		Total Investments — 100.3% (Identified Cost $6,202,152)		7,303,360
		Other assets less liabilities — (0.3)%		(24,133	)

		Net Assets — 100.0%	$	7,279,227


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	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.
	ETF	Exchange-Traded Fund
	FHLMC	Federal Home Loan Mortgage Corp.
	FNMA	Federal National Mortgage Association
	GMTN	Global Medium Term Note
	LIBOR	London Interbank Offered Rate
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	91.1	%
Fixed Income	5.9
Short-Term Investments	3.3

Total Investments	100.3
Other assets less liabilities	(0.3	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 68

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund


Shares		Description	Value (†)
	Common Stocks — 58.5% of Net Assets
		Aerospace & Defense — 1.0%
	21	Axon Enterprise, Inc.(a)	$	3,906
	131	Boeing Co. (The)(a)		29,669
	52	General Dynamics Corp.		10,194
	5	L3Harris Technologies, Inc.		1,134
	30	Moog, Inc., Class A		2,336
	61	Raytheon Technologies Corp.		5,304

				52,543

		Air Freight & Logistics — 0.4%
	105	Expeditors International of Washington, Inc.		13,466
	35	United Parcel Service, Inc., Class B		6,698

				20,164

		Airlines — 0.1%
	11	Alaska Air Group, Inc.(a)		638
	68	Delta Air Lines, Inc.(a)		2,713
	306	JetBlue Airways Corp.(a)		4,526

				7,877

		Auto Components — 0.2%
	8	Aptiv PLC(a)		1,335
	15	BorgWarner, Inc.		735
	207	Dana, Inc.		5,001
	29	Visteon Corp.(a)		3,307

				10,378

		Automobiles — 0.4%
	317	General Motors Co.(a)		18,018
	28	Thor Industries, Inc.		3,314

				21,332

		Banks — 2.7%
	148	Ameris Bancorp		7,194
	132	Bancorp, Inc. (The)(a)		3,085
	143	BancorpSouth Bank		3,689
	572	Bank of America Corp.		21,942
	320	Citigroup, Inc.		21,639
	111	Citizens Financial Group, Inc.		4,680
	9	Comerica, Inc.		618
	69	Cullen/Frost Bankers, Inc.		7,405
	47	Fifth Third Bancorp		1,706
	250	Fulton Financial Corp.		3,830
	51	Huntington Bancshares, Inc.		718
	127	International Bancshares Corp.		4,963
	129	KeyCorp		2,536
	6	M&T Bank Corp.		803
	176	People’s United Financial, Inc.		2,763
	68	PNC Financial Services Group, Inc. (The)		12,404
	169	Regions Financial Corp.		3,253
	198	Truist Financial Corp.		10,777
	197	Trustmark Corp.		5,914
	91	U.S. Bancorp		5,054
	120	Webster Financial Corp.		5,772
	324	Wells Fargo & Co.		14,885
	52	Wintrust Financial Corp.		3,713

				149,343

		Beverages — 1.6%
	159	Coca-Cola Co. (The)		9,068
	69	Constellation Brands, Inc., Class A		15,480
	678	Keurig Dr Pepper, Inc.		23,872
	342	Monster Beverage Corp.(a)		32,257
	58	PepsiCo, Inc.		9,103

				89,780

		Biotechnology — 1.8%
	39	AbbVie, Inc.		4,536
	107	Alnylam Pharmaceuticals, Inc.(a)		19,146
	38	Amgen, Inc.		9,178
	11	Biogen, Inc.(a)		3,594
	95	BioMarin Pharmaceutical, Inc.(a)		7,289
	96	CRISPR Therapeutics AG(a)		11,618
	23	Gilead Sciences, Inc.		1,571
	19	Ligand Pharmaceuticals, Inc.(a)		2,157
	70	Regeneron Pharmaceuticals, Inc.(a)		40,223

				99,312

		Building Products — 0.4%
	20	Carlisle Cos., Inc.		4,045
	28	Carrier Global Corp.		1,547
	25	Johnson Controls International PLC		1,785
	20	Lennox International, Inc.		6,589
	61	Owens Corning		5,866
	40	Trex Co., Inc.(a)		3,884

				23,716

		Capital Markets — 4.1%
	10	Ameriprise Financial, Inc.		2,576
	521	Bank of New York Mellon Corp. (The)		26,743
	8	BlackRock, Inc.		6,937
	325	Charles Schwab Corp. (The)		22,084
	15	CME Group, Inc.		3,182
	50	FactSet Research Systems, Inc.		17,864
	47	Franklin Resources, Inc.		1,389
	51	Goldman Sachs Group, Inc. (The)		19,119
	86	Intercontinental Exchange, Inc.		10,305
	17	Invesco Ltd.		414
	102	Janus Henderson Group PLC		4,268
	153	KKR & Co., Inc.		9,755
	23	Moody’s Corp.		8,648
	21	Morgan Stanley		2,015
	24	MSCI, Inc.		14,303
	95	Northern Trust Corp.		10,721
	33	S&P Global, Inc.		14,148
	184	SEI Investments Co.		11,187
	337	State Street Corp.		29,366
	5	T. Rowe Price Group, Inc.		1,021
	24	Virtus Investment Partners, Inc.		6,627

				222,672

		Chemicals — 0.7%
	8	Air Products & Chemicals, Inc.		2,328
	24	DuPont de Nemours, Inc.		1,801
	7	Ecolab, Inc.		1,546
	55	HB Fuller Co.		3,554
	39	Innospec, Inc.		3,450
	43	Linde PLC		13,218
	47	Minerals Technologies, Inc.		3,770
	8	PPG Industries, Inc.		1,308
	7	Sherwin-Williams Co. (The)		2,037
	27	Stepan Co.		3,185

				36,197

		Commercial Services & Supplies — 0.3%
	52	Healthcare Services Group, Inc.		1,357
	28	MSA Safety, Inc.		4,606
	7	Republic Services, Inc.		829
	42	Tetra Tech, Inc.		5,608
	58	Viad Corp.(a)		2,659
	13	Waste Management, Inc.		1,927

				16,986

See accompanying notes to financial statements.

69 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.7%
	28	Arista Networks, Inc.(a)	$	10,651
	67	Ciena Corp.(a)		3,895
	351	Cisco Systems, Inc.		19,435
	5	F5 Networks, Inc.(a)		1,032
	39	Lumentum Holdings, Inc.(a)		3,276

				38,289

		Construction & Engineering — 0.2%
	128	AECOM(a)		8,059

		Consumer Finance — 1.6%
	592	Ally Financial, Inc.		30,405
	132	American Express Co.		22,510
	193	Capital One Financial Corp.		31,208
	34	Green Dot Corp., Class A(a)		1,567
	34	PROG Holdings, Inc.		1,488

				87,178

		Containers & Packaging — 0.1%
	47	Ball Corp.		3,801
	40	International Paper Co.		2,311

				6,112

		Distributors — 0.1%
	31	Genuine Parts Co.		3,934

		Diversified Telecommunication Services — 0.3%
	143	AT&T, Inc.		4,011
	818	Lumen Technologies, Inc.		10,201

				14,212

		Electric Utilities — 0.6%
	98	American Electric Power Co., Inc.		8,636
	144	Edison International		7,848
	26	Eversource Energy		2,243
	39	IDACORP, Inc.		4,112
	140	NextEra Energy, Inc.		10,906
	33	PPL Corp.		936

				34,681

		Electrical Equipment — 0.5%
	15	Acuity Brands, Inc.		2,631
	33	Eaton Corp. PLC		5,215
	26	Hubbell, Inc.		5,212
	237	Plug Power, Inc.(a)		6,465
	23	Rockwell Automation, Inc.		7,071
	42	Sunrun, Inc.(a)		2,225

				28,819

		Electronic Equipment, Instruments & Components — 0.9%
	12	Amphenol Corp., Class A		870
	69	Avnet, Inc.		2,851
	73	Cognex Corp.		6,600
	16	Coherent, Inc.(a)		3,935
	30	Corning, Inc.		1,256
	93	Itron, Inc.(a)		9,172
	14	Littelfuse, Inc.		3,724
	14	Rogers Corp.(a)		2,668
	95	TE Connectivity Ltd.		14,009
	129	Vishay Intertechnology, Inc.		2,855

				47,940

		Energy Equipment & Services — 0.4%
	543	Archrock, Inc.		4,675
	92	Baker Hughes Co.		1,954
	162	ChampionX Corp.(a)		3,765
	45	NOV, Inc.(a)		621
	454	Schlumberger NV		13,089

				24,104

		Entertainment — 1.2%
	28	Activision Blizzard, Inc.		2,342
	64	Cinemark Holdings, Inc.(a)		994
	46	Electronic Arts, Inc.		6,622
	35	Netflix, Inc.(a)		18,115
	214	Walt Disney Co. (The)(a)		37,668

				65,741

		Food & Staples Retailing — 0.2%
	54	BJ’s Wholesale Club Holdings, Inc.(a)		2,734
	3	Costco Wholesale Corp.		1,289
	60	Kroger Co. (The)		2,442
	173	SpartanNash Co.		3,365
	10	Sysco Corp.		742
	52	Walgreens Boots Alliance, Inc.		2,452

				13,024

		Food Products — 0.4%
	56	Campbell Soup Co.		2,448
	19	Conagra Brands, Inc.		636
	68	Darling Ingredients, Inc.(a)		4,697
	43	General Mills, Inc.		2,531
	74	Hain Celestial Group, Inc. (The)(a)		2,953
	56	Hormel Foods Corp.		2,597
	37	Ingredion, Inc.		3,249
	13	J.M. Smucker Co. (The)		1,705
	19	Kellogg Co.		1,204
	8	McCormick & Co., Inc.		674

				22,694

		Gas Utilities — 0.2%
	76	New Jersey Resources Corp.		2,927
	42	ONE Gas, Inc.		3,099
	87	South Jersey Industries, Inc.		2,190
	92	UGI Corp.		4,231

				12,447

		Health Care Equipment & Supplies — 1.1%
	37	Abbott Laboratories		4,476
	7	Baxter International, Inc.		541
	5	Becton Dickinson & Co.		1,279
	24	Boston Scientific Corp.(a)		1,094
	6	Cooper Cos., Inc. (The)		2,531
	17	Danaher Corp.		5,057
	8	DENTSPLY SIRONA, Inc.		528
	37	Edwards Lifesciences Corp.(a)		4,154
	39	Globus Medical, Inc., Class A(a)		3,244
	21	Haemonetics Corp.(a)		1,277
	37	Hill-Rom Holdings, Inc.		5,123
	17	Hologic, Inc.(a)		1,276
	12	Intuitive Surgical, Inc.(a)		11,897
	28	Medtronic PLC		3,677
	97	Meridian Bioscience, Inc.(a)		1,988
	31	Merit Medical Systems, Inc.(a)		2,173
	20	Penumbra, Inc.(a)		5,325
	11	Quidel Corp.(a)		1,556
	18	STAAR Surgical Co.(a)		2,303
	5	STERIS PLC		1,090
	8	Stryker Corp.		2,167

				62,756

		Health Care Providers & Services — 2.2%
	14	Amedisys, Inc.(a)		3,649
	19	Anthem, Inc.		7,296
	108	Centene Corp.(a)		7,410
	9	Chemed Corp.		4,284
	23	Cigna Corp.		5,278

See accompanying notes to financial statements.

| 70

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	143	CVS Health Corp.	$	11,778
	35	Encompass Health Corp.		2,914
	115	HCA Healthcare, Inc.		28,543
	21	Henry Schein, Inc.(a)		1,683
	47	Humana, Inc.		20,015
	18	Laboratory Corp. of America Holdings(a)		5,331
	149	MEDNAX, Inc.(a)		4,339
	70	Patterson Cos., Inc.		2,179
	28	Quest Diagnostics, Inc.		3,970
	101	Select Medical Holdings Corp.		3,985
	20	UnitedHealth Group, Inc.		8,244

				120,898

		Health Care Technology — 0.2%
	237	Allscripts Healthcare Solutions, Inc.(a)		4,048
	97	Cerner Corp.		7,798

				11,846

		Hotels, Restaurants & Leisure — 1.9%
	9	Booking Holdings, Inc.(a)		19,604
	2	Chipotle Mexican Grill, Inc.(a)		3,727
	5	Expedia Group, Inc.(a)		804
	119	Hilton Worldwide Holdings, Inc.(a)		15,643
	44	Jack in the Box, Inc.		4,790
	14	McDonald’s Corp.		3,398
	16	Royal Caribbean Cruises Ltd.(a)		1,230
	50	Shake Shack, Inc., Class A(a)		5,027
	70	Six Flags Entertainment Corp.(a)		2,909
	179	Starbucks Corp.		21,736
	144	Wendy’s Co. (The)		3,342
	180	Yum China Holdings, Inc.		11,194
	62	Yum! Brands, Inc.		8,146

				101,550

		Household Durables — 0.3%
	115	KB Home		4,881
	86	Meritage Homes Corp.(a)		9,338
	155	Taylor Morrison Home Corp.(a)		4,157

				18,376

		Household Products — 0.5%
	6	Clorox Co. (The)		1,085
	171	Colgate-Palmolive Co.		13,595
	89	Kimberly-Clark Corp.		12,079

				26,759

		Independent Power & Renewable Electricity Producers — 0.3%
	56	AES Corp. (The)		1,327
	118	NextEra Energy Partners LP		9,149
	50	Ormat Technologies, Inc.		3,487
	79	Sunnova Energy International, Inc.(a)		3,010

				16,973

		Industrial Conglomerates — 0.3%
	1,112	General Electric Co.		14,400
	6	Honeywell International, Inc.		1,403

				15,803

		Insurance — 1.6%
	20	Aflac, Inc.		1,100
	30	Allstate Corp. (The)		3,901
	335	American International Group, Inc.		15,862
	54	Chubb Ltd.		9,112
	66	First American Financial Corp.		4,442
	25	Hanover Insurance Group, Inc. (The)		3,398
	95	Hartford Financial Services Group, Inc. (The)		6,044
	12	Lincoln National Corp.		739
		Insurance — continued
	35	Marsh & McLennan Cos., Inc.		5,153
	210	MetLife, Inc.		12,117
	49	Prudential Financial, Inc.		4,914
	170	Reinsurance Group of America, Inc.		18,731
	25	Travelers Cos., Inc. (The)		3,723

				89,236

		Interactive Media & Services — 3.3%
	19	Alphabet, Inc., Class A(a)		51,196
	21	Alphabet, Inc., Class C(a)		56,793
	201	Facebook, Inc., Class A(a)		71,616

				179,605

		Internet & Direct Marketing Retail — 2.1%
	154	Alibaba Group Holding Ltd., Sponsored ADR(a)		30,059
	15	Amazon.com, Inc.(a)		49,914
	420	eBay, Inc.		28,648
	5	Etsy, Inc.(a)		918
	462	Qurate Retail, Inc., Class A		5,479

				115,018

		IT Services — 3.4%
	41	Accenture PLC, Class A		13,025
	75	Akamai Technologies, Inc.(a)		8,994
	105	Automatic Data Processing, Inc.		22,011
	40	Cognizant Technology Solutions Corp., Class A		2,941
	442	DXC Technology Co.(a)		17,671
	146	Fiserv, Inc.(a)		16,806
	77	Gartner, Inc.(a)		20,384
	64	MasterCard, Inc., Class A		24,700
	21	Paychex, Inc.		2,390
	12	VeriSign, Inc.(a)		2,597
	199	Visa, Inc., Class A		49,032
	20	WEX, Inc.(a)		3,795

				184,346

		Leisure Products — 0.1%
	85	Callaway Golf Co.(a)		2,693

		Life Sciences Tools & Services — 0.9%
	17	Agilent Technologies, Inc.		2,605
	14	Bio-Techne Corp.		6,751
	44	Illumina, Inc.(a)		21,813
	80	NeoGenomics, Inc.(a)		3,688
	36	Repligen Corp.(a)		8,845
	8	Thermo Fisher Scientific, Inc.		4,320
	7	Waters Corp.(a)		2,729

				50,751

		Machinery — 1.7%
	48	AGCO Corp.		6,341
	54	Caterpillar, Inc.		11,165
	27	Chart Industries, Inc.(a)		4,197
	45	Cummins, Inc.		10,445
	82	Deere & Co.		29,650
	11	Illinois Tool Works, Inc.		2,493
	64	ITT, Inc.		6,266
	81	Kennametal, Inc.		2,936
	50	Oshkosh Corp.		5,978
	13	Parker-Hannifin Corp.		4,056
	15	Proto Labs, Inc.(a)		1,173
	63	Terex Corp.		3,019
	56	Toro Co. (The)		6,370

				94,089

		Media — 1.4%
	3	Cable One, Inc.		5,664

See accompanying notes to financial statements.

71 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	31	Charter Communications, Inc., Class A(a)	$	23,065
	537	Comcast Corp., Class A		31,592
	84	Discovery, Inc., Series A(a)		2,437
	21	Discovery, Inc., Series C(a)		569
	48	Fox Corp., Class A		1,712
	46	Interpublic Group of Cos., Inc. (The)		1,627
	67	New York Times Co. (The), Class A		2,933
	57	News Corp., Class A		1,404
	62	Omnicom Group, Inc.		4,515

				75,518

		Metals & Mining — 0.4%
	205	Cleveland-Cliffs, Inc.(a)		5,125
	116	Commercial Metals Co.		3,805
	11	Nucor Corp.		1,144
	49	Reliance Steel & Aluminum Co.		7,700
	32	Royal Gold, Inc.		3,889

				21,663

		Multi-Utilities — 0.2%
	58	Consolidated Edison, Inc.		4,278
	24	DTE Energy Co.		2,816
	26	Sempra Energy		3,397
	16	WEC Energy Group, Inc.		1,506

				11,997

		Multiline Retail — 0.2%
	294	Macy’s, Inc.(a)		4,998
	32	Target Corp.		8,354

				13,352

		Oil, Gas & Consumable Fuels — 1.4%
	664	APA Corp.		12,450
	223	ConocoPhillips		12,501
	60	Devon Energy Corp.		1,550
	120	Diamondback Energy, Inc.		9,256
	9	DTE Midstream LLC(a)		382
	283	EOG Resources, Inc.		20,619
	117	EQT Corp.(a)		2,152
	154	Kinder Morgan, Inc.		2,677
	248	Marathon Oil Corp.		2,874
	60	ONEOK, Inc.		3,118
	376	Southwestern Energy Co.(a)		1,771
	43	Valero Energy Corp.		2,880
	63	World Fuel Services Corp.		2,171

				74,401

		Paper & Forest Products — 0.1%
	85	Louisiana-Pacific Corp.		4,712

		Personal Products — 0.0%
	2	Estee Lauder Cos., Inc. (The), Class A		668

		Pharmaceuticals — 1.4%
	50	Bristol-Myers Squibb Co.		3,394
	25	Eli Lilly & Co.		6,087
	27	Jazz Pharmaceuticals PLC(a)		4,577
	165	Merck & Co., Inc.		12,684
	208	Novartis AG, Sponsored ADR		19,217
	79	Novo Nordisk A/S, Sponsored ADR		7,315
	15	Organon & Co.(a)		435
	27	Perrigo Co. PLC		1,297
	120	Pfizer, Inc.		5,137
	364	Roche Holding AG, Sponsored ADR		17,567
	7	Zoetis, Inc.		1,419

				79,129

		Professional Services — 0.3%
	51	Exponent, Inc.		5,462
	9	IHS Markit Ltd.		1,051
	20	Insperity, Inc.		1,981
	52	Korn Ferry		3,574
	31	ManpowerGroup, Inc.		3,676
	27	Nielsen Holdings PLC		640

				16,384

		Real Estate Management & Development — 0.3%
	93	CBRE Group, Inc., Class A(a)		8,971
	26	Jones Lang LaSalle, Inc.(a)		5,787

				14,758

		REITs – Apartments — 0.3%
	93	American Campus Communities, Inc.		4,679
	62	Camden Property Trust		9,262
	26	Equity Residential		2,187

				16,128

		REITs – Diversified — 0.3%
	33	American Tower Corp.		9,332
	7	Crown Castle International Corp.		1,352
	45	CyrusOne, Inc.		3,207
	43	Weyerhaeuser Co.		1,450

				15,341

		REITs – Health Care — 0.1%
	24	Ventas, Inc.		1,435
	13	Welltower, Inc.		1,129

				2,564

		REITs – Hotels — 0.0%
	72	Host Hotels & Resorts, Inc.(a)		1,147

		REITs – Mortgage — 0.1%
	127	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		7,214

		REITs – Office Property — 0.4%
	3	Boston Properties, Inc.		352
	140	Corporate Office Properties Trust		4,121
	158	Douglas Emmett, Inc.		5,277
	211	Easterly Government Properties, Inc.		4,790
	70	Kilroy Realty Corp.		4,849

				19,389

		REITs – Shopping Centers — 0.2%
	376	Brixmor Property Group, Inc.		8,655

		REITs – Storage — 0.0%
	13	Iron Mountain, Inc.		569

		REITs – Warehouse/Industrials — 0.1%
	58	ProLogis, Inc.		7,426

		Road & Rail — 0.3%
	69	CSX Corp.		2,230
	28	Norfolk Southern Corp.		7,219
	41	Ryder System, Inc.		3,122
	18	Union Pacific Corp.		3,938

				16,509

		Semiconductors & Semiconductor Equipment — 3.0%
	35	Advanced Micro Devices, Inc.(a)		3,717
	16	Analog Devices, Inc.		2,679
	25	Applied Materials, Inc.		3,498
	53	Cirrus Logic, Inc.(a)		4,377
	89	Cree, Inc.(a)		8,256
	30	Enphase Energy, Inc.(a)		5,688
	113	First Solar, Inc.(a)		9,722
	73	Ichor Holdings Ltd.(a)		3,765

See accompanying notes to financial statements.

| 72

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	124	Intel Corp.	$	6,661
	5	Lam Research Corp.		3,187
	28	Micron Technology, Inc.(a)		2,172
	344	NVIDIA Corp.		67,076
	4	NXP Semiconductors NV		826
	143	QUALCOMM, Inc.		21,421
	41	Silicon Laboratories, Inc.(a)		6,109
	50	Texas Instruments, Inc.		9,531
	22	Universal Display Corp.		5,159
	5	Xilinx, Inc.		749

				164,593

		Software — 4.2%
	24	Adobe, Inc.(a)		14,919
	24	ANSYS, Inc.(a)		8,843
	120	Autodesk, Inc.(a)		38,536
	31	Blackbaud, Inc.(a)		2,211
	45	Bottomline Technologies, Inc.(a)		1,816
	8	Citrix Systems, Inc.		806
	62	CommVault Systems, Inc.(a)		4,687
	14	Fair Isaac Corp.(a)		7,335
	150	Microsoft Corp.		42,736
	19	NortonLifeLock, Inc.		472
	478	Oracle Corp.		41,653
	26	Paylocity Holding Corp.(a)		5,394
	27	Qualys, Inc.(a)		2,742
	109	salesforce.com, Inc.(a)		26,370
	44	SPS Commerce, Inc.(a)		4,794
	125	Workday, Inc., Class A(a)		29,300

				232,614

		Specialty Retail — 1.1%
	94	American Eagle Outfitters, Inc.		3,240
	34	Asbury Automotive Group, Inc.(a)		6,986
	2	AutoZone, Inc.(a)		3,247
	18	Best Buy Co., Inc.		2,022
	41	Boot Barn Holdings, Inc.(a)		3,543
	17	Five Below, Inc.(a)		3,305
	12	GameStop Corp., Class A(a)		1,934
	34	Gap, Inc. (The)		992
	53	Home Depot, Inc. (The)		17,394
	21	Lithia Motors, Inc.		7,922
	12	Lowe’s Cos., Inc.		2,312
	28	Monro, Inc.		1,624
	9	TJX Cos., Inc. (The)		619
	5	Ulta Beauty, Inc.(a)		1,679
	34	Williams-Sonoma, Inc.		5,158

				61,977

		Technology Hardware, Storage & Peripherals — 0.6%
	798	Hewlett Packard Enterprise Co.		11,571
	493	HP, Inc.		14,233
	89	NCR Corp.(a)		3,951
	13	Seagate Technology Holdings PLC		1,143

				30,898

		Textiles, Apparel & Luxury Goods — 0.5%
	21	Deckers Outdoor Corp.(a)		8,628
	673	Under Armour, Inc., Class A(a)		13,763
	55	VF Corp.		4,411
	78	Wolverine World Wide, Inc.		2,616

				29,418

		Thrifts & Mortgage Finance — 0.1%
	116	Mr. Cooper Group, Inc.(a)		4,313

		Trading Companies & Distributors — 0.0%
	27	GATX Corp.		2,491

		Water Utilities — 0.3%
	32	American Water Works Co., Inc.		5,444
	204	Essential Utilities, Inc.		10,020

				15,464

		Wireless Telecommunication Services — 0.2%
	58	Shenandoah Telecommunications Co.		3,062
	56	T-Mobile US, Inc.(a)		8,065

				11,127

		Total Common Stocks (Identified Cost $2,579,200)		3,208,652


Principal Amount
	Bonds and Notes — 3.9%
		Automotive — 0.1%
$	2,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		2,265
	2,000	Lear Corp., 4.250%, 5/15/2029		2,303

				4,568

		Banking — 0.6%
	2,000	American Express Co., 3.700%, 8/03/2023		2,127
	2,000	Bank of Montreal, MTN, 1.900%, 8/27/2021		2,002
	2,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		2,155
	2,000	Citigroup, Inc., 4.600%, 3/09/2026		2,291
	2,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,191
	2,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,122
	2,000	KeyCorp, MTN, 2.550%, 10/01/2029		2,121
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,350
	2,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		2,146
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		4,224
	2,000	Truist Bank, 3.200%, 4/01/2024		2,139
	2,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		2,144
	2,000	Westpac Banking Corp., 2.350%, 2/19/2025		2,111

				30,123

		Brokerage — 0.1%
	2,000	BlackRock, Inc., 2.400%, 4/30/2030		2,129
	1,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		1,012

				3,141

		Chemicals — 0.1%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		2,649

		Construction Machinery — 0.0%
	2,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		2,014

		Electric — 0.2%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,154
	2,000	Entergy Corp., 0.900%, 9/15/2025		1,989
	2,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		2,054
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,194

				8,391

		Food & Beverage — 0.1%
	2,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		2,043
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,217
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,134

				6,394

See accompanying notes to financial statements.

73 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Principal Amount		Description	Value (†)
		Government Owned – No Guarantee — 0.1%
$	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030	$	2,925

		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,305
	2,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		2,863

				5,168

		Healthcare — 0.0%
	1,000	CVS Health Corp., 4.300%, 3/25/2028		1,158

		Independent Energy — 0.1%
	4,000	EQT Corp., 3.000%, 10/01/2022		4,055

		Integrated Energy — 0.1%
	2,000	BP Capital Markets PLC, 3.814%, 2/10/2024		2,160
	2,000	Exxon Mobil Corp., 2.992%, 3/19/2025		2,147
	2,000	Shell International Finance BV, 6.375%, 12/15/2038		2,982

				7,289

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,567

		Midstream — 0.0%
	2,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		2,155

		Mortgage Related — 0.6%
	11,990	FNMA, 2.000%, with various maturities in 2051(b)		12,236
	10,662	FNMA, 2.500%, with various maturities in 2051(b)		11,114
	5,113	FNMA, 3.000%, with various maturities from 2034 to 2049(b)		5,371
	3,103	FNMA, 3.500%, with various maturities in 2049(b)		3,285
	1,420	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		1,515
	866	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		934

				34,455

		Natural Gas — 0.0%
	2,000	NiSource, Inc., 0.950%, 8/15/2025		1,989

		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,185
	3,000	Johnson & Johnson, 1.300%, 9/01/2030		2,959

				5,144

		Property & Casualty Insurance — 0.0%
	2,000	American International Group, Inc., 3.400%, 6/30/2030		2,209

		Railroads — 0.0%
	2,000	CSX Corp., 2.600%, 11/01/2026		2,138

		REITs – Office Property — 0.0%
	2,000	Boston Properties LP, 2.750%, 10/01/2026		2,146

		Restaurants — 0.0%
	2,000	Starbucks Corp., 2.250%, 3/12/2030		2,058

		Retailers — 0.0%
	2,000	Amazon.com, Inc., 3.875%, 8/22/2037		2,424

		Technology — 0.2%
	1,000	Apple, Inc., 2.500%, 2/09/2025		1,060
	2,000	International Business Machines Corp., 4.000%, 6/20/2042		2,377
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,135
	4,000	QUALCOMM, Inc., 1.650%, 5/20/2032		3,902

				9,474

		Treasuries — 1.0%
	1,000	U.S. Treasury Bond, 2.250%, 5/15/2041		1,074
	4,000	U.S. Treasury Bond, 2.875%, 11/15/2046		4,804
	5,000	U.S. Treasury Bond, 3.000%, 5/15/2045		6,091
		Treasuries — continued
	3,000	U.S. Treasury Bond, 3.000%, 2/15/2048		3,701
	5,000	U.S. Treasury Bond, 3.000%, 2/15/2049		6,198
	10,000	U.S. Treasury Note, 0.375%, 11/30/2025		9,904
	3,000	U.S. Treasury Note, 1.250%, 3/31/2028		3,056
	11,000	U.S. Treasury Note, 1.625%, 8/31/2022		11,181
	8,000	U.S. Treasury Note, 2.125%, 12/31/2022		8,225

				54,234

		Utility Other — 0.1%
	2,000	Essential Utilities, Inc., 4.276%, 5/01/2049		2,455

		Wireless — 0.1%
	2,000	Vodafone Group PLC, 6.150%, 2/27/2037		2,798

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		2,120
	2,000	AT&T, Inc., 5.250%, 3/01/2037		2,541
	2,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		2,058

				6,719

		Total Bonds and Notes (Identified Cost $208,550)		210,840


Shares
	Exchange-Traded Funds — 11.4%
	7,870	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $575,439)		626,137

	Mutual Funds — 9.6%
	13,142	WCM Focused Emerging Markets Fund, Institutional Class		264,161
	9,399	WCM Focused International Growth Fund, Institutional Class		264,209

		Total Mutual Funds (Identified Cost $471,863)		528,370

	Affiliated Mutual Funds — 13.0%
	7,772	Mirova Global Green Bond Fund, Class N		82,535
	42,144	Mirova International Sustainable Equity Fund, Class N		630,059

		Total Affiliated Mutual Funds (Identified Cost $641,464)		712,594


Principal Amount
	Short-Term Investments — 4.3%
$	232,767	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $232,767 on 8/02/2021 collateralized by $240,800 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $237,738 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $232,767)		232,767


		Total Investments — 100.7% (Identified Cost $4,709,283)		5,519,360
		Other assets less liabilities — (0.7)%		(36,779	)

		Net Assets — 100.0%	$	5,482,581


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.

See accompanying notes to financial statements.

| 74

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


	(b)			The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)			Variable rate security. Rate as of July 31, 2021 is disclosed.

	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.
	ETF			Exchange-Traded Fund
	FNMA			Federal National Mortgage Association
	GMTN			Global Medium Term Note
	LIBOR			London Interbank Offered Rate
	MTN			Medium Term Note
	REITs			Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	91.0	%
Fixed Income	5.4
Short-Term Investments	4.3

Total Investments	100.7
Other assets less liabilities	(0.7	)

Net Assets	100.0	%

See accompanying notes to financial statements.

75 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund


Shares		Description	Value (†)
	Common Stocks — 60.7% of Net Assets
		Aerospace & Defense — 1.0%
	19	Axon Enterprise, Inc.(a)	$	3,535
	109	Boeing Co. (The)(a)		24,686
	46	General Dynamics Corp.		9,018
	4	L3Harris Technologies, Inc.		907
	28	Moog, Inc., Class A		2,180
	54	Raytheon Technologies Corp.		4,695

				45,021

		Air Freight & Logistics — 0.4%
	89	Expeditors International of Washington, Inc.		11,414
	30	United Parcel Service, Inc., Class B		5,741

				17,155

		Airlines — 0.2%
	11	Alaska Air Group, Inc.(a)		639
	58	Delta Air Lines, Inc.(a)		2,314
	281	JetBlue Airways Corp.(a)		4,156

				7,109

		Auto Components — 0.2%
	9	Aptiv PLC(a)		1,502
	15	BorgWarner, Inc.		735
	183	Dana, Inc.		4,421
	24	Visteon Corp.(a)		2,737

				9,395

		Automobiles — 0.4%
	284	General Motors Co.(a)		16,143
	25	Thor Industries, Inc.		2,959

				19,102

		Banks — 2.9%
	136	Ameris Bancorp		6,611
	118	Bancorp, Inc. (The)(a)		2,758
	131	BancorpSouth Bank		3,380
	511	Bank of America Corp.		19,602
	286	Citigroup, Inc.		19,339
	89	Citizens Financial Group, Inc.		3,752
	9	Comerica, Inc.		618
	64	Cullen/Frost Bankers, Inc.		6,868
	34	Fifth Third Bancorp		1,234
	229	Fulton Financial Corp.		3,508
	55	Huntington Bancshares, Inc.		774
	117	International Bancshares Corp.		4,572
	128	KeyCorp		2,516
	6	M&T Bank Corp.		803
	149	People’s United Financial, Inc.		2,339
	58	PNC Financial Services Group, Inc. (The)		10,580
	148	Regions Financial Corp.		2,849
	169	Truist Financial Corp.		9,199
	177	Trustmark Corp.		5,314
	74	U.S. Bancorp		4,110
	108	Webster Financial Corp.		5,195
	290	Wells Fargo & Co.		13,323
	47	Wintrust Financial Corp.		3,356

				132,600

		Beverages — 1.7%
	142	Coca-Cola Co. (The)		8,098
	62	Constellation Brands, Inc., Class A		13,909
	605	Keurig Dr Pepper, Inc.		21,302
	276	Monster Beverage Corp.(a)		26,032
	52	PepsiCo, Inc.		8,162

				77,503

		Biotechnology — 1.9%
	32	AbbVie, Inc.		3,722
	93	Alnylam Pharmaceuticals, Inc.(a)		16,641
	34	Amgen, Inc.		8,212
	10	Biogen, Inc.(a)		3,267
	79	BioMarin Pharmaceutical, Inc.(a)		6,062
	81	CRISPR Therapeutics AG(a)		9,803
	22	Gilead Sciences, Inc.		1,502
	17	Ligand Pharmaceuticals, Inc.(a)		1,930
	60	Regeneron Pharmaceuticals, Inc.(a)		34,477

				85,616

		Building Products — 0.5%
	19	Carlisle Cos., Inc.		3,842
	20	Carrier Global Corp.		1,105
	18	Johnson Controls International PLC		1,286
	17	Lennox International, Inc.		5,600
	56	Owens Corning		5,385
	37	Trex Co., Inc.(a)		3,593

				20,811

		Capital Markets — 4.2%
	8	Ameriprise Financial, Inc.		2,060
	453	Bank of New York Mellon Corp. (The)		23,252
	6	BlackRock, Inc.		5,203
	288	Charles Schwab Corp. (The)		19,570
	12	CME Group, Inc.		2,545
	42	FactSet Research Systems, Inc.		15,006
	46	Franklin Resources, Inc.		1,359
	46	Goldman Sachs Group, Inc. (The)		17,244
	77	Intercontinental Exchange, Inc.		9,227
	18	Invesco Ltd.		439
	90	Janus Henderson Group PLC		3,766
	137	KKR & Co., Inc.		8,735
	21	Moody’s Corp.		7,896
	18	Morgan Stanley		1,728
	22	MSCI, Inc.		13,111
	81	Northern Trust Corp.		9,141
	29	S&P Global, Inc.		12,433
	151	SEI Investments Co.		9,181
	292	State Street Corp.		25,445
	4	T. Rowe Price Group, Inc.		817
	22	Virtus Investment Partners, Inc.		6,075

				194,233

		Chemicals — 0.7%
	6	Air Products & Chemicals, Inc.		1,746
	17	DuPont de Nemours, Inc.		1,276
	7	Ecolab, Inc.		1,546
	49	HB Fuller Co.		3,166
	34	Innospec, Inc.		3,007
	36	Linde PLC		11,066
	42	Minerals Technologies, Inc.		3,369
	5	PPG Industries, Inc.		818
	7	Sherwin-Williams Co. (The)		2,037
	24	Stepan Co.		2,831

				30,862

		Commercial Services & Supplies — 0.3%
	44	Healthcare Services Group, Inc.		1,149
	25	MSA Safety, Inc.		4,112
	5	Republic Services, Inc.		592
	37	Tetra Tech, Inc.		4,940
	51	Viad Corp.(a)		2,338
	9	Waste Management, Inc.		1,334

				14,465

See accompanying notes to financial statements.

| 76

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.7%
	23	Arista Networks, Inc.(a)	$	8,749
	62	Ciena Corp.(a)		3,605
	290	Cisco Systems, Inc.		16,057
	4	F5 Networks, Inc.(a)		826
	33	Lumentum Holdings, Inc.(a)		2,772

				32,009

		Construction & Engineering — 0.2%
	114	AECOM(a)		7,177

		Consumer Finance — 1.7%
	529	Ally Financial, Inc.		27,170
	118	American Express Co.		20,123
	173	Capital One Financial Corp.		27,974
	30	Green Dot Corp., Class A(a)		1,382
	29	PROG Holdings, Inc.		1,269

				77,918

		Containers & Packaging — 0.1%
	42	Ball Corp.		3,397
	29	International Paper Co.		1,675

				5,072

		Distributors — 0.1%
	25	Genuine Parts Co.		3,173

		Diversified Telecommunication Services — 0.3%
	120	AT&T, Inc.		3,366
	685	Lumen Technologies, Inc.		8,542

				11,908

		Electric Utilities — 0.7%
	88	American Electric Power Co., Inc.		7,755
	127	Edison International		6,921
	23	Eversource Energy		1,984
	33	IDACORP, Inc.		3,480
	119	NextEra Energy, Inc.		9,270
	33	PPL Corp.		936

				30,346

		Electrical Equipment — 0.5%
	12	Acuity Brands, Inc.		2,105
	30	Eaton Corp. PLC		4,741
	23	Hubbell, Inc.		4,611
	198	Plug Power, Inc.(a)		5,401
	20	Rockwell Automation, Inc.		6,148
	36	Sunrun, Inc.(a)		1,907

				24,913

		Electronic Equipment, Instruments & Components — 0.9%
	12	Amphenol Corp., Class A		870
	63	Avnet, Inc.		2,603
	64	Cognex Corp.		5,786
	14	Coherent, Inc.(a)		3,443
	24	Corning, Inc.		1,005
	77	Itron, Inc.(a)		7,594
	13	Littelfuse, Inc.		3,458
	12	Rogers Corp.(a)		2,287
	85	TE Connectivity Ltd.		12,535
	112	Vishay Intertechnology, Inc.		2,478

				42,059

		Energy Equipment & Services — 0.5%
	481	Archrock, Inc.		4,142
	67	Baker Hughes Co.		1,423
	141	ChampionX Corp.(a)		3,277
	68	NOV, Inc.(a)		939
	376	Schlumberger NV		10,840

				20,621

		Entertainment — 1.2%
	22	Activision Blizzard, Inc.		1,840
	48	Cinemark Holdings, Inc.(a)		745
	39	Electronic Arts, Inc.		5,614
	31	Netflix, Inc.(a)		16,045
	175	Walt Disney Co. (The)(a)		30,804

				55,048

		Food & Staples Retailing — 0.2%
	50	BJ’s Wholesale Club Holdings, Inc.(a)		2,532
	2	Costco Wholesale Corp.		860
	52	Kroger Co. (The)		2,116
	149	SpartanNash Co.		2,898
	10	Sysco Corp.		742
	41	Walgreens Boots Alliance, Inc.		1,933

				11,081

		Food Products — 0.4%
	46	Campbell Soup Co.		2,011
	15	Conagra Brands, Inc.		502
	63	Darling Ingredients, Inc.(a)		4,352
	34	General Mills, Inc.		2,001
	65	Hain Celestial Group, Inc. (The)(a)		2,594
	46	Hormel Foods Corp.		2,134
	33	Ingredion, Inc.		2,898
	11	J.M. Smucker Co. (The)		1,442
	15	Kellogg Co.		950
	8	McCormick & Co., Inc.		673

				19,557

		Gas Utilities — 0.2%
	67	New Jersey Resources Corp.		2,581
	37	ONE Gas, Inc.		2,730
	71	South Jersey Industries, Inc.		1,787
	84	UGI Corp.		3,863

				10,961

		Health Care Equipment & Supplies — 1.2%
	31	Abbott Laboratories		3,750
	7	Baxter International, Inc.		541
	5	Becton Dickinson & Co.		1,279
	26	Boston Scientific Corp.(a)		1,186
	5	Cooper Cos., Inc. (The)		2,109
	14	Danaher Corp.		4,165
	13	DENTSPLY SIRONA, Inc.		859
	34	Edwards Lifesciences Corp.(a)		3,817
	35	Globus Medical, Inc., Class A(a)		2,911
	17	Haemonetics Corp.(a)		1,033
	33	Hill-Rom Holdings, Inc.		4,569
	15	Hologic, Inc.(a)		1,126
	9	Intuitive Surgical, Inc.(a)		8,923
	24	Medtronic PLC		3,151
	80	Meridian Bioscience, Inc.(a)		1,640
	26	Merit Medical Systems, Inc.(a)		1,822
	18	Penumbra, Inc.(a)		4,792
	9	Quidel Corp.(a)		1,273
	16	STAAR Surgical Co.(a)		2,047
	4	STERIS PLC		872
	7	Stryker Corp.		1,897

				53,762

		Health Care Providers & Services — 2.3%
	12	Amedisys, Inc.(a)		3,128
	15	Anthem, Inc.		5,760
	95	Centene Corp.(a)		6,518
	8	Chemed Corp.		3,808
	19	Cigna Corp.		4,360

See accompanying notes to financial statements.

77 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	128	CVS Health Corp.	$	10,542
	32	Encompass Health Corp.		2,664
	104	HCA Healthcare, Inc.		25,813
	22	Henry Schein, Inc.(a)		1,763
	41	Humana, Inc.		17,460
	15	Laboratory Corp. of America Holdings(a)		4,442
	133	MEDNAX, Inc.(a)		3,873
	57	Patterson Cos., Inc.		1,775
	23	Quest Diagnostics, Inc.		3,261
	88	Select Medical Holdings Corp.		3,472
	17	UnitedHealth Group, Inc.		7,008

				105,647

		Health Care Technology — 0.2%
	206	Allscripts Healthcare Solutions, Inc.(a)		3,519
	90	Cerner Corp.		7,235

				10,754

		Hotels, Restaurants & Leisure — 1.9%
	8	Booking Holdings, Inc.(a)		17,426
	2	Chipotle Mexican Grill, Inc.(a)		3,727
	5	Expedia Group, Inc.(a)		804
	107	Hilton Worldwide Holdings, Inc.(a)		14,065
	39	Jack in the Box, Inc.		4,246
	12	McDonald’s Corp.		2,913
	11	Royal Caribbean Cruises Ltd.(a)		846
	45	Shake Shack, Inc., Class A(a)		4,524
	62	Six Flags Entertainment Corp.(a)		2,576
	149	Starbucks Corp.		18,093
	127	Wendy’s Co. (The)		2,948
	150	Yum China Holdings, Inc.		9,328
	49	Yum! Brands, Inc.		6,438

				87,934

		Household Durables — 0.4%
	102	KB Home		4,329
	77	Meritage Homes Corp.(a)		8,360
	140	Taylor Morrison Home Corp.(a)		3,755

				16,444

		Household Products — 0.5%
	4	Clorox Co. (The)		724
	144	Colgate-Palmolive Co.		11,448
	77	Kimberly-Clark Corp.		10,450

				22,622

		Independent Power & Renewable Electricity Producers — 0.3%
	48	AES Corp. (The)		1,138
	102	NextEra Energy Partners LP		7,908
	42	Ormat Technologies, Inc.		2,929
	63	Sunnova Energy International, Inc.(a)		2,400

				14,375

		Industrial Conglomerates — 0.3%
	994	General Electric Co.		12,872
	5	Honeywell International, Inc.		1,169

				14,041

		Insurance — 1.7%
	16	Aflac, Inc.		880
	26	Allstate Corp. (The)		3,381
	300	American International Group, Inc.		14,205
	48	Chubb Ltd.		8,100
	61	First American Financial Corp.		4,106
	22	Hanover Insurance Group, Inc. (The)		2,990
	86	Hartford Financial Services Group, Inc. (The)		5,471
	9	Lincoln National Corp.		555
		Insurance — continued
	27	Marsh & McLennan Cos., Inc.		3,975
	175	MetLife, Inc.		10,098
	44	Prudential Financial, Inc.		4,412
	152	Reinsurance Group of America, Inc.		16,747
	22	Travelers Cos., Inc. (The)		3,276

				78,196

		Interactive Media & Services — 3.3%
	15	Alphabet, Inc., Class A(a)		40,418
	18	Alphabet, Inc., Class C(a)		48,679
	176	Facebook, Inc., Class A(a)		62,709

				151,806

		Internet & Direct Marketing Retail — 2.2%
	134	Alibaba Group Holding Ltd., Sponsored ADR(a)		26,155
	13	Amazon.com, Inc.(a)		43,259
	369	eBay, Inc.		25,170
	4	Etsy, Inc.(a)		734
	413	Qurate Retail, Inc., Class A		4,898

				100,216

		IT Services — 3.5%
	35	Accenture PLC, Class A		11,119
	65	Akamai Technologies, Inc.(a)		7,795
	94	Automatic Data Processing, Inc.		19,705
	35	Cognizant Technology Solutions Corp., Class A		2,574
	398	DXC Technology Co.(a)		15,912
	131	Fiserv, Inc.(a)		15,079
	69	Gartner, Inc.(a)		18,266
	53	MasterCard, Inc., Class A		20,455
	19	Paychex, Inc.		2,163
	9	VeriSign, Inc.(a)		1,947
	168	Visa, Inc., Class A		41,394
	18	WEX, Inc.(a)		3,415

				159,824

		Leisure Products — 0.1%
	81	Callaway Golf Co.(a)		2,566

		Life Sciences Tools & Services — 1.0%
	14	Agilent Technologies, Inc.		2,145
	12	Bio-Techne Corp.		5,787
	39	Illumina, Inc.(a)		19,334
	69	NeoGenomics, Inc.(a)		3,181
	32	Repligen Corp.(a)		7,863
	7	Thermo Fisher Scientific, Inc.		3,780
	5	Waters Corp.(a)		1,949

				44,039

		Machinery — 1.8%
	43	AGCO Corp.		5,681
	48	Caterpillar, Inc.		9,924
	24	Chart Industries, Inc.(a)		3,731
	41	Cummins, Inc.		9,516
	71	Deere & Co.		25,673
	8	Illinois Tool Works, Inc.		1,813
	59	ITT, Inc.		5,777
	73	Kennametal, Inc.		2,646
	44	Oshkosh Corp.		5,260
	12	Parker-Hannifin Corp.		3,745
	11	Proto Labs, Inc.(a)		860
	58	Terex Corp.		2,779
	49	Toro Co. (The)		5,573

				82,978

		Media — 1.5%
	3	Cable One, Inc.		5,664
	27	Charter Communications, Inc., Class A(a)		20,089

See accompanying notes to financial statements.

| 78

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Media — continued
	473	Comcast Corp., Class A	$	27,827
	68	Discovery, Inc., Series A(a)		1,973
	21	Discovery, Inc., Series C(a)		569
	42	Fox Corp., Class A		1,498
	33	Interpublic Group of Cos., Inc. (The)		1,167
	63	New York Times Co. (The), Class A		2,758
	41	News Corp., Class A		1,010
	55	Omnicom Group, Inc.		4,005

				66,560

		Metals & Mining — 0.4%
	187	Cleveland-Cliffs, Inc.(a)		4,675
	99	Commercial Metals Co.		3,247
	7	Nucor Corp.		728
	44	Reliance Steel & Aluminum Co.		6,915
	29	Royal Gold, Inc.		3,524

				19,089

		Multi-Utilities — 0.2%
	51	Consolidated Edison, Inc.		3,762
	19	DTE Energy Co.		2,229
	22	Sempra Energy		2,874
	11	WEC Energy Group, Inc.		1,036

				9,901

		Multiline Retail — 0.3%
	260	Macy’s, Inc.(a)		4,420
	28	Target Corp.		7,309

				11,729

		Oil, Gas & Consumable Fuels — 1.4%
	597	APA Corp.		11,194
	194	ConocoPhillips		10,876
	58	Devon Energy Corp.		1,499
	108	Diamondback Energy, Inc.		8,330
	9	DTE Midstream LLC(a)		382
	253	EOG Resources, Inc.		18,433
	98	EQT Corp.(a)		1,802
	130	Kinder Morgan, Inc.		2,259
	201	Marathon Oil Corp.		2,330
	50	ONEOK, Inc.		2,598
	304	Southwestern Energy Co.(a)		1,432
	36	Valero Energy Corp.		2,411
	52	World Fuel Services Corp.		1,792

				65,338

		Paper & Forest Products — 0.1%
	78	Louisiana-Pacific Corp.		4,324

		Personal Products — 0.0%
	3	Estee Lauder Cos., Inc. (The), Class A		1,001

		Pharmaceuticals — 1.4%
	40	Bristol-Myers Squibb Co.		2,715
	21	Eli Lilly & Co.		5,113
	24	Jazz Pharmaceuticals PLC(a)		4,068
	138	Merck & Co., Inc.		10,608
	170	Novartis AG, Sponsored ADR		15,706
	71	Novo Nordisk A/S, Sponsored ADR		6,575
	13	Organon & Co.(a)		377
	22	Perrigo Co. PLC		1,057
	102	Pfizer, Inc.		4,367
	292	Roche Holding AG, Sponsored ADR		14,092
	5	Zoetis, Inc.		1,014

				65,692

		Professional Services — 0.3%
	46	Exponent, Inc.		4,926
	6	IHS Markit Ltd.		701
		Professional Services — continued
	17	Insperity, Inc.		1,684
	47	Korn Ferry		3,231
	28	ManpowerGroup, Inc.		3,320
	28	Nielsen Holdings PLC		663

				14,525

		Real Estate Management & Development — 0.3%
	83	CBRE Group, Inc., Class A(a)		8,006
	23	Jones Lang LaSalle, Inc.(a)		5,119

				13,125

		REITs – Apartments — 0.3%
	86	American Campus Communities, Inc.		4,327
	54	Camden Property Trust		8,067
	23	Equity Residential		1,935

				14,329

		REITs – Diversified — 0.3%
	27	American Tower Corp.		7,636
	6	Crown Castle International Corp.		1,159
	39	CyrusOne, Inc.		2,779
	37	Weyerhaeuser Co.		1,248

				12,822

		REITs – Health Care — 0.0%
	22	Ventas, Inc.		1,315
	10	Welltower, Inc.		869

				2,184

		REITs – Hotels — 0.0%
	68	Host Hotels & Resorts, Inc.(a)		1,083

		REITs – Mortgage — 0.1%
	113	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		6,418

		REITs – Office Property — 0.4%
	4	Boston Properties, Inc.		469
	121	Corporate Office Properties Trust		3,562
	145	Douglas Emmett, Inc.		4,843
	188	Easterly Government Properties, Inc.		4,268
	63	Kilroy Realty Corp.		4,364

				17,506

		REITs – Shopping Centers — 0.2%
	344	Brixmor Property Group, Inc.		7,919

		REITs – Storage — 0.0%
	20	Iron Mountain, Inc.		875

		REITs – Warehouse/Industrials — 0.1%
	50	ProLogis, Inc.		6,402

		Road & Rail — 0.3%
	54	CSX Corp.		1,746
	23	Norfolk Southern Corp.		5,930
	35	Ryder System, Inc.		2,665
	16	Union Pacific Corp.		3,500

				13,841

		Semiconductors & Semiconductor Equipment — 3.1%
	31	Advanced Micro Devices, Inc.(a)		3,292
	15	Analog Devices, Inc.		2,511
	21	Applied Materials, Inc.		2,938
	48	Cirrus Logic, Inc.(a)		3,964
	82	Cree, Inc.(a)		7,606
	26	Enphase Energy, Inc.(a)		4,930
	98	First Solar, Inc.(a)		8,432
	63	Ichor Holdings Ltd.(a)		3,249
	111	Intel Corp.		5,963

See accompanying notes to financial statements.

79 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	4	Lam Research Corp.	$	2,550
	24	Micron Technology, Inc.(a)		1,862
	297	NVIDIA Corp.		57,912
	4	NXP Semiconductors NV		826
	124	QUALCOMM, Inc.		18,575
	38	Silicon Laboratories, Inc.(a)		5,662
	45	Texas Instruments, Inc.		8,578
	19	Universal Display Corp.		4,455
	5	Xilinx, Inc.		749

				144,054

		Software — 4.3%
	20	Adobe, Inc.(a)		12,433
	20	ANSYS, Inc.(a)		7,369
	101	Autodesk, Inc.(a)		32,434
	26	Blackbaud, Inc.(a)		1,855
	37	Bottomline Technologies, Inc.(a)		1,493
	6	Citrix Systems, Inc.		605
	57	CommVault Systems, Inc.(a)		4,309
	12	Fair Isaac Corp.(a)		6,287
	130	Microsoft Corp.		37,038
	31	NortonLifeLock, Inc.		769
	394	Oracle Corp.		34,333
	23	Paylocity Holding Corp.(a)		4,772
	24	Qualys, Inc.(a)		2,437
	92	salesforce.com, Inc.(a)		22,258
	41	SPS Commerce, Inc.(a)		4,467
	106	Workday, Inc., Class A(a)		24,846

				197,705

		Specialty Retail — 1.2%
	84	American Eagle Outfitters, Inc.		2,895
	30	Asbury Automotive Group, Inc.(a)		6,164
	2	AutoZone, Inc.(a)		3,247
	18	Best Buy Co., Inc.		2,022
	36	Boot Barn Holdings, Inc.(a)		3,111
	16	Five Below, Inc.(a)		3,111
	10	GameStop Corp., Class A(a)		1,611
	34	Gap, Inc. (The)		992
	46	Home Depot, Inc. (The)		15,097
	18	Lithia Motors, Inc.		6,790
	10	Lowe’s Cos., Inc.		1,927
	23	Monro, Inc.		1,334
	10	TJX Cos., Inc. (The)		688
	5	Ulta Beauty, Inc.(a)		1,679
	30	Williams-Sonoma, Inc.		4,551

				55,219

		Technology Hardware, Storage & Peripherals — 0.6%
	684	Hewlett Packard Enterprise Co.		9,918
	433	HP, Inc.		12,501
	77	NCR Corp.(a)		3,419
	13	Seagate Technology Holdings PLC		1,142

				26,980

		Textiles, Apparel & Luxury Goods — 0.5%
	18	Deckers Outdoor Corp.(a)		7,395
	539	Under Armour, Inc., Class A(a)		11,023
	45	VF Corp.		3,609
	72	Wolverine World Wide, Inc.		2,415

				24,442

		Thrifts & Mortgage Finance — 0.1%
	107	Mr. Cooper Group, Inc.(a)		3,978

		Trading Companies & Distributors — 0.0%
	24	GATX Corp.		2,214

		Water Utilities — 0.3%
	28	American Water Works Co., Inc.		4,763
	183	Essential Utilities, Inc.		8,989

				13,752

		Wireless Telecommunication Services — 0.2%
	52	Shenandoah Telecommunications Co.		2,745
	50	T-Mobile US, Inc.(a)		7,201
				9,946

		Total Common Stocks (Identified Cost $2,197,588)		2,783,872


Principal Amount
	Bonds and Notes — 4.0%
		Automotive — 0.1%
$	2,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		2,265

		Banking — 0.6%
	2,000	American Express Co., 3.700%, 8/03/2023		2,127
	2,000	Bank of America Corp., (fixed rate to 1/20/2022, variable rate thereafter), MTN, 3.124%, 1/20/2023		2,025
	2,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		2,155
	2,000	Citigroup, Inc., 4.600%, 3/09/2026		2,291
	1,000	Cooperatieve Rabobank U.A., 3.875%, 2/08/2022		1,019
	4,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		4,245
	2,000	KeyCorp, MTN, 2.550%, 10/01/2029		2,121
	1,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		1,175
	2,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		2,146
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024	��	2,112
	2,000	Truist Bank, 3.200%, 4/01/2024		2,139
	2,000	Wells Fargo & Co., MTN, 3.000%, 2/19/2025		2,144
	2,000	Westpac Banking Corp., 2.350%, 2/19/2025		2,111

				27,810

		Brokerage — 0.1%
	2,000	BlackRock, Inc., 2.400%, 4/30/2030		2,128
	2,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		2,024

				4,152

		Construction Machinery — 0.0%
	2,000	Caterpillar Financial Services Corp., 0.650%, 7/07/2023		2,014

		Consumer Cyclical Services — 0.0%
	2,000	eBay, Inc., 3.800%, 3/09/2022		2,035

		Electric — 0.2%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,154
	2,000	Entergy Corp., 0.900%, 9/15/2025		1,989
	2,000	Exelon Corp., 4.050%, 4/15/2030		2,311
	2,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		2,054
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,194

				10,702

		Financial Other — 0.0%
	2,000	ORIX Corp., 2.900%, 7/18/2022		2,050

		Food & Beverage — 0.1%
	2,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		2,043
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,217
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,134

				6,394

See accompanying notes to financial statements.

| 80

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Principal Amount		Description	Value (†)
		Government Owned – No Guarantee — 0.1%
$	2,000	Federal National Mortgage Association, 6.625%, 11/15/2030	$	2,925

		Health Insurance — 0.1%
	2,000	Anthem, Inc., 4.101%, 3/01/2028		2,305
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,432

				3,737

		Healthcare — 0.1%
	3,000	CVS Health Corp., 4.300%, 3/25/2028		3,474

		Independent Energy — 0.0%
	2,000	EQT Corp., 3.000%, 10/01/2022		2,027

		Integrated Energy — 0.1%
	2,000	BP Capital Markets PLC, 3.814%, 2/10/2024		2,160
	2,000	Exxon Mobil Corp., 2.992%, 3/19/2025		2,147
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,491

				5,798

		Midstream — 0.1%
	2,000	Kinder Morgan Energy Partners LP, 4.150%, 2/01/2024		2,155

		Mortgage Related — 0.7%
	9,990	FNMA, 2.000%, with various maturities in 2051(b)		10,195
	8,662	FNMA, 2.500%, with various maturities in 2051(b)		9,029
	7,971	FNMA, 3.000%, with various maturities from 2034 to 2051(b)		8,369
	2,117	FNMA, 3.500%, with various maturities in 2049(b)		2,241
	410	FNMA, 4.000%, 3/01/2050		438
	622	FNMA, 4.500%, 5/01/2049		671

				30,943

		Natural Gas — 0.0%
	2,000	NiSource, Inc., 0.950%, 8/15/2025		1,989

		Pharmaceuticals — 0.0%
	1,000	Johnson & Johnson, 1.300%, 9/01/2030		986

		Property & Casualty Insurance — 0.1%
	2,000	American International Group, Inc., 3.400%, 6/30/2030		2,209

		Railroads — 0.1%
	2,000	CSX Corp., 2.600%, 11/01/2026		2,138

		REITs – Office Property — 0.0%
	1,000	Boston Properties LP, 2.750%, 10/01/2026		1,073

		REITs – Retail — 0.0%
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		2,025

		Restaurants — 0.1%
	2,000	Starbucks Corp., 2.250%, 3/12/2030		2,058

		Technology — 0.3%
	2,000	Apple, Inc., 2.500%, 2/09/2025		2,120
	2,000	International Business Machines Corp., 4.000%, 6/20/2042		2,377
	2,000	Oracle Corp., 2.950%, 5/15/2025		2,135
	4,000	QUALCOMM, Inc., 1.650%, 5/20/2032		3,902
	2,000	VMware, Inc., 2.950%, 8/21/2022		2,048

				12,582

		Treasuries — 1.0%
	2,000	U.S. Treasury Bond, 2.250%, 5/15/2041		2,149
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		1,122
	4,000	U.S. Treasury Bond, 2.875%, 11/15/2046		4,804
	5,000	U.S. Treasury Bond, 3.000%, 5/15/2045		6,091
	3,000	U.S. Treasury Bond, 3.000%, 2/15/2048		3,701
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2049		4,958
	1,000	U.S. Treasury Bond, 4.250%, 11/15/2040		1,417
	1,000	U.S. Treasury Bond, 4.375%, 5/15/2041		1,443
	9,000	U.S. Treasury Note, 0.375%, 11/30/2025		8,914
		Treasuries — continued
	2,000	U.S. Treasury Note, 1.625%, 8/31/2022		2,033
	8,000	U.S. Treasury Note, 2.125%, 12/31/2022		8,225

				44,857

		Wireless — 0.1%
	2,000	Vodafone Group PLC, 6.150%, 2/27/2037		2,798

		Wirelines — 0.0%
	1,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 1.256%, 5/15/2025(c)		1,029

		Total Bonds and Notes (Identified Cost $180,377)		182,225


Shares
	Exchange-Traded Funds — 11.4%
	6,591	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $480,951)		524,380

	Mutual Funds — 9.7%
	11,038	WCM Focused Emerging Markets Fund, Institutional Class		221,855
	7,892	WCM Focused International Growth Fund, Institutional Class		221,855

		Total Mutual Funds (Identified Cost $397,908)		443,710

	Affiliated Mutual Funds — 13.0%
	6,525	Mirova Global Green Bond Fund, Class N		69,297
	35,388	Mirova International Sustainable Equity Fund, Class N		529,056

		Total Affiliated Mutual Funds (Identified Cost $537,356)		598,353


Principal Amount
	Short-Term Investments — 2.1%
$	97,738	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/30/2021 at 0.000% to be repurchased at $97,738 on 8/02/2021 collateralized by $101,100 U.S. Treasury Note, 0.250% due 8/31/2025 valued at $99,814 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $97,738)		97,738


		Total Investments — 100.9% (Identified Cost $3,891,918)		4,630,278
		Other assets less liabilities — (0.9)%		(41,817	)

		Net Assets — 100.0%	$	4,588,461


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal National Mortgage Association are interests in separate pools of mortgages. All separate investments in securities of each issuer which have the same coupon rate have been aggregated for the purpose of presentation in the Portfolio of Investments.
	(c)	Variable rate security. Rate as of July 31, 2021 is disclosed.

	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.
	ETF	Exchange-Traded Fund
	FNMA	Federal National Mortgage Association

See accompanying notes to financial statements.

81 |

Portfolio of Investments – as of July 31, 2021 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)

Asset Allocation Summary at July 31, 2021 (Unaudited)


Equity	93.3	%
Fixed Income	5.5
Short-Term Investments	2.1

Total Investments	100.9
Other assets less liabilities	(0.9	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 82

Statements of Assets and Liabilities

July 31, 2021 (Unaudited)


	Natixis Sustainable Future 2015 Fund		Natixis Sustainable Future 2020 Fund		Natixis Sustainable Future 2025 Fund		Natixis Sustainable Future 2030 Fund
ASSETS
Unaffiliated investments at cost	$	2,416,088	$	1,956,839	$	5,893,809	$	7,321,518
Affiliated investments at cost		1,750,160		1,100,205		2,558,839		2,570,594
Net unrealized appreciation on unaffiliated investments		353,091		351,387		1,083,679		1,418,690
Net unrealized appreciation on affiliated investments		68,253		39,578		117,645		166,191

Investments at value		4,587,592		3,448,009		9,653,972		11,476,993
Cash		—		—		—		—
Receivable for Fund shares sold		3,711		7,167		8,701		30,565
Receivable from investment adviser (Note 5)		10,107		10,684		8,149		8,959
Receivable for securities sold		3,732		1,341		834		752
Dividends and interest receivable		6,822		4,779		12,663		12,940
Tax reclaims receivable		369		508		375		361
Prepaid expenses (Note 6)		—		—		1		1

TOTAL ASSETS		4,612,333		3,472,488		9,684,695		11,530,571

LIABILITIES
Payable for securities purchased		5,208		3,516		27,224		35,313
Payable to custodian bank (Note 7)		1,034		916		834		752
Deferred Trustees’ fees (Note 5)		18,827		18,812		18,808		18,805
Administrative fees payable (Note 5)		163		122		342		406
Audit and tax services fees payable		18,552		18,552		18,552		18,552
Other accounts payable and accrued expenses		18,886		19,207		18,798		19,698

TOTAL LIABILITIES		62,670		61,125		84,558		93,526

NET ASSETS	$	4,549,663	$	3,411,363	$	9,600,137	$	11,437,045

NET ASSETS CONSIST OF:
Paid-in capital	$	3,849,857	$	2,968,371	$	8,325,026	$	9,703,883
Accumulated earnings		699,806		442,992		1,275,111		1,733,162

NET ASSETS	$	4,549,663	$	3,411,363	$	9,600,137	$	11,437,045

COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class N shares:
Net assets	$	4,549,663	$	3,411,363	$	9,600,137	$	11,437,045

Shares of beneficial interest		412,746		336,785		776,115		876,624

Net asset value, offering and redemption price per share	$	11.02	$	10.13	$	12.37	$	13.05

See accompanying notes to financial statements.

83 |

Statements of Assets and Liabilities (continued)

July 31, 2021 (Unaudited)


Natixis Sustainable Future 2035 Fund		Natixis Sustainable Future 2040 Fund		Natixis Sustainable Future 2045 Fund		Natixis Sustainable Future 2050 Fund		Natixis Sustainable Future 2055 Fund		Natixis Sustainable Future 2060 Fund

$	6,551,468	$	5,784,761	$	5,915,021	$	5,332,597	$	4,067,819	$	3,354,562
	1,901,973		1,318,159		1,183,199		869,555		641,464		537,356
	1,296,616		1,043,939		1,116,807		1,014,524		738,947		677,363
	131,355		112,554		103,183		86,684		71,130		60,997

	9,881,412		8,259,413		8,318,210		7,303,360		5,519,360		4,630,278
	—		1,976		—		—		—		—
	20,982		15,561		13,725		18,267		11,943		5,646
	9,774		11,078		11,122		9,719		9,922		10,479
	693		—		201		6,743		2,479		114,215
	9,087		6,586		5,979		5,969		4,480		3,983
	406		500		428		385		378		384
	1		1		—		—		—		2

	9,922,355		8,295,115		8,349,665		7,344,443		5,548,562		4,764,987


	20,831		16,369		7,291		7,291		9,500		5,516
	824		—		201		270		587		115,372
	18,808		18,780		18,750		18,742		18,723		18,708
	353		292		291		265		191		169
	18,552		18,552		18,552		18,552		18,552		18,552
	20,015		19,769		19,568		20,096		18,428		18,209

	79,383		73,762		64,653		65,216		65,981		176,526

$	9,842,972	$	8,221,353	$	8,285,012	$	7,279,227	$	5,482,581	$	4,588,461


$	8,139,172	$	6,854,210	$	6,726,412	$	5,943,126	$	4,496,110	$	3,630,700
	1,703,800		1,367,143		1,558,600		1,336,101		986,471		957,761

$	9,842,972	$	8,221,353	$	8,285,012	$	7,279,227	$	5,482,581	$	4,588,461



$	9,842,972	$	8,221,353	$	8,285,012	$	7,279,227	$	5,482,581	$	4,588,461

	748,220		637,140		604,720		547,145		419,671		348,442

$	13.16	$	12.90	$	13.70	$	13.30	$	13.06	$	13.17

See accompanying notes to financial statements.

| 84

Statements of Operations

For the Six Months Ended July 31, 2021 (Unaudited)


	Natixis Sustainable Future 2015 Fund			Natixis Sustainable Future 2020 Fund			Natixis Sustainable Future 2025 Fund			Natixis Sustainable Future 2030 Fund
INVESTMENT INCOME
Dividends from unaffiliated investments	$	12,013		$	9,790		$	28,607		$	38,763
Dividends from affiliated investments		16,640			9,190			17,333			16,816
Interest		8,098			4,329			11,080			11,748
Less net foreign taxes withheld		(92	)		(70	)		(203	)		(247	)

		36,659			23,239			56,817			67,080

Expenses
Management fees (Note 5)		3,026			2,468			7,065			8,865
Administrative fees (Note 5)		979			695			1,835			2,112
Trustees’ fees and expenses (Note 5)		8,867			8,841			8,923			8,942
Transfer agent fees and expenses		1,203			1,316			1,288			1,435
Audit and tax services fees		16,196			16,196			16,196			16,196
Custodian fees and expenses		21,623			17,070			19,998			19,099
Legal fees (Note 6)		95			61			168			183
Registration fees		6,162			6,162			6,063			6,162
Regulatory filing fees		6,500			6,500			6,500			6,500
Shareholder reporting expenses		2,888			2,771			3,929			4,414
Miscellaneous expenses (Note 6)		8,198			8,047			8,088			8,109

Total expenses		75,737			70,127			80,053			82,017
Less waiver and/or expense reimbursement (Note 5)		(69,268	)		(65,407	)		(67,155	)		(66,679	)

Net expenses		6,469			4,720			12,898			15,338

Net investment income		30,190			18,519			43,919			51,742

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain on:
Unaffiliated investments		247,505			106,030			113,340			152,781
Affiliated investments		53,676			5,758			2,383			12,700
Distributions of capital gains received from affiliated investments		1,895			1,618			4,794			6,333
Net change in unrealized appreciation (depreciation) on:
Unaffiliated investments		31,651			141,905			564,620			702,233
Affiliated investments		(32,553	)		12,078			48,393			58,806

Net realized and unrealized gain on investments		302,174			267,389			733,530			932,853

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	332,364		$	285,908		$	777,449		$	984,595

See accompanying notes to financial statements.

85 |

Statements of Operations (continued)

For the Six Months Ended July 31, 2021 (Unaudited)


Natixis Sustainable Future 2035 Fund			Natixis Sustainable Future 2040 Fund			Natixis Sustainable Future 2045 Fund			Natixis Sustainable Future 2050 Fund			Natixis Sustainable Future 2055 Fund			Natixis Sustainable Future 2060 Fund

$	39,751		$	31,570		$	35,441		$	33,291		$	23,515		$	21,811
	11,618			6,178			4,319			920			616			566
	6,319			2,673			2,421			1,869			1,186			1,248
	(263	)		(215	)		(260	)		(218	)		(161	)		(147	)

	57,425			40,206			41,921			35,862			25,156			23,478


	8,635			7,191			7,741			6,903			4,996			4,607
	1,898			1,467			1,548			1,361			985			907
	8,925			8,894			8,900			8,884			8,855			8,849
	1,321			1,481			1,354			1,595			1,356			1,368
	16,196			16,196			16,196			16,196			16,196			16,196
	25,064			23,295			24,989			23,401			19,934			22,076
	168			121			136			112			84			79
	6,162			6,162			6,162			6,162			6,162			6,162
	6,500			6,500			6,500			6,500			6,500			6,500
	4,023			3,886			3,861			3,773			3,304			3,226
	8,090			8,115			8,082			8,077			8,068			8,059

	86,982			83,308			85,469			82,964			76,440			78,029
	(72,743	)		(72,299	)		(74,215	)		(72,431	)		(69,048	)		(71,227	)

	14,239			11,009			11,254			10,533			7,392			6,802

	43,186			29,197			30,667			25,329			17,764			16,676



	281,267			217,915			325,823			249,019			202,280			219,052
	23,445			18,752			33,039			16,427			5,354			23,929
	6,459			5,382			6,560			6,171			4,741			4,465

	629,553			485,002			520,154			484,334			336,239			300,742
	43,913			38,923			33,525			41,794			38,118			17,297

	984,637			765,974			919,101			797,745			586,732			565,485

$	1,027,823		$	795,171		$	949,768		$	823,074		$	604,496		$	582,161

See accompanying notes to financial statements.

| 86

Statements of Changes in Net Assets


	Natixis Sustainable Future 2015 Fund						Natixis Sustainable Future 2020 Fund						Natixis Sustainable Future 2025 Fund
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021
FROM OPERATIONS:
Net investment income	$	30,190		$	66,145		$	18,519		$	52,363		$	43,919		$	70,178
Net realized gain on investments, including distributions of capital gains received from affiliated investments		303,076			508,604			113,406			572,900			120,517			508,816
Net change in unrealized appreciation (depreciation) on investments		(902	)		160,546			153,983			(46,857	)		613,013			335,772

Net increase in net assets resulting from operations		332,364			735,295			285,908			578,406			777,449			914,766

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(61,190	)		(605,621	)		(34,908	)		(706,173	)		(111,213	)		(589,169	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		74,481			(2,116,817	)		248,001			(2,966,175	)		1,742,112			851,212

Net increase (decrease) in net assets		345,655			(1,987,143	)		499,001			(3,093,942	)		2,408,348			1,176,809
NET ASSETS
Beginning of the period		4,204,008			6,191,151			2,912,362			6,006,304			7,191,789			6,014,980

End of the period	$	4,549,663		$	4,204,008		$	3,411,363		$	2,912,362		$	9,600,137		$	7,191,789

See accompanying notes to financial statements.

87 |

Statements of Changes in Net Assets (continued)


	Natixis Sustainable Future 2030 Fund						Natixis Sustainable Future 2035 Fund						Natixis Sustainable Future 2040 Fund
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021
FROM OPERATIONS:
Net investment income	$	51,742		$	75,199		$	43,186		$	61,977		$	29,197		$	52,520
Net realized gain on investments, including distributions of capital gains received from affiliated investments		171,814			482,175			311,171			590,959			242,049			583,229
Net change in unrealized appreciation (depreciation) on investments		761,039			556,935			673,466			423,194			523,925			310,502

Net increase in net assets resulting from operations		984,595			1,114,309			1,027,823			1,076,130			795,171			946,251

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(179,682	)		(537,498	)		(256,997	)		(523,070	)		(160,409	)		(590,062	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		2,967,293			838,108			1,750,113			1,203,343			2,155,849			(587,824	)

Net increase (decrease) in net assets		3,772,206			1,414,919			2,520,939			1,756,403			2,790,611			(231,635	)
NET ASSETS
Beginning of the period		7,664,839			6,249,920			7,322,033			5,565,630			5,430,742			5,662,377

End of the period	$	11,437,045		$	7,664,839		$	9,842,972		$	7,322,033		$	8,221,353		$	5,430,742

See accompanying notes to financial statements.

| 88

Statements of Changes in Net Assets (continued)


	Natixis Sustainable Future 2045 Fund						Natixis Sustainable Future 2050 Fund						Natixis Sustainable Future 2055 Fund
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021
FROM OPERATIONS:
Net investment income	$	30,667		$	47,617		$	25,329		$	41,652		$	17,764		$	34,700
Net realized gain on investments, including distributions of capital gains received from affiliated investments		365,422			380,941			271,617			429,355			212,375			372,241
Net change in unrealized appreciation (depreciation) on investments		553,679			434,910			526,128			345,055			374,357			227,912

Net increase in net assets resulting from operations		949,768			863,468			823,074			816,062			604,496			634,853

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(88,435	)		(435,927	)		(83,033	)		(512,519	)		(56,446	)		(431,682	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		1,140,807			904,542			1,522,008			156,675			1,098,261			(544,538	)

Net increase (decrease) in net assets		2,002,140			1,332,083			2,262,049			460,218			1,646,311			(341,367	)
NET ASSETS
Beginning of the period		6,282,872			4,950,789			5,017,178			4,556,960			3,836,270			4,177,637

End of the period	$	8,285,012		$	6,282,872		$	7,279,227		$	5,017,178		$	5,482,581		$	3,836,270

See accompanying notes to financial statements.

89 |

Statements of Changes in Net Assets (continued)


	Natixis Sustainable Future 2060 Fund
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021
FROM OPERATIONS:
Net investment income	$	16,676		$	30,897
Net realized gain on investments, including distributions of capital gains received from affiliated investments		247,446			350,303
Net change in unrealized appreciation (depreciation) on investments		318,039			208,568

Net increase in net assets resulting from operations		582,161			589,768

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(72,456	)		(375,626	)

NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		421,405			245,221

Net increase in net assets		931,110			459,363
NET ASSETS
Beginning of the period		3,657,351			3,197,988

End of the period	$	4,588,461		$	3,657,351

See accompanying notes to financial statements.

| 90

Financial Highlights

For a share outstanding throughout each period.


	Sustainable Future 2015 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	10.37		$	10.70		$	10.11		$	11.13		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.07			0.12			0.17			0.23			0.15
Net realized and unrealized gain (loss)		0.72			1.25			1.02			(0.41	)		1.19

Total from Investment Operations		0.79			1.37			1.19			(0.18	)		1.34

LESS DISTRIBUTIONS FROM:
Net investment income		(0.00	)(b)		(0.25	)		(0.18	)		(0.23	)		(0.16	)
Net realized capital gains		(0.14	)		(1.45	)		(0.42	)		(0.61	)		(0.05	)

Total Distributions		(0.14	)		(1.70	)		(0.60	)		(0.84	)		(0.21	)

Net asset value, end of the period	$	11.02		$	10.37		$	10.70		$	10.11		$	11.13

Total return(c)		7.75	%(d)		12.97	%		11.81	%		(1.28	)%		13.42	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,550		$	4,204		$	6,191		$	4,600		$	4,536
Net expenses(e)		0.28	%(f)(g)		0.31	%(h)		0.31	%(i)(j)		0.35	%(k)		0.38	%(f)(l)
Gross expenses		3.30	%(f)(g)		3.08	%(h)		3.70	%(i)		4.04	%(k)		3.57	%(f)(l)
Net investment income		1.32	%(f)		1.09	%		1.62	%		2.10	%		1.49	%(f)
Portfolio turnover rate		40	%		61	%		73	%		41	%		15	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Amount rounds to less than $0.01 per share.

(c)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(d)	Periods less than one year are not annualized.

(e)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f)	Computed on an annualized basis for periods less than one year.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.55% and 3.57%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.55% and 3.32%, respectively.

(i)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.58% and 3.97%, respectively.

(j)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.34%, respectively.

(l)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 3.84%, respectively.

See accompanying notes to financial statements.

91 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2020 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	9.37		$	10.66		$	9.97		$	11.34		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.06			0.11			0.17			0.22			0.14
Net realized and unrealized gain (loss)		0.80			1.38			1.06			(0.46	)		1.39

Total from Investment Operations		0.86			1.49			1.23			(0.24	)		1.53

LESS DISTRIBUTIONS FROM:
Net investment income		(0.00	)(b)		(0.29	)		(0.18	)		(0.23	)		(0.15	)
Net realized capital gains		(0.10	)		(2.49	)		(0.36	)		(0.90	)		(0.04	)

Total Distributions		(0.10	)		(2.78	)		(0.54	)		(1.13	)		(0.19	)

Net asset value, end of the period	$	10.13		$	9.37		$	10.66		$	9.97		$	11.34

Total return(c)		9.24	%(d)		14.26	%		12.31	%		(1.66	)%		15.38	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,411		$	2,912		$	6,006		$	4,540		$	4,617
Net expenses(e)		0.29	%(f)(g)		0.32	%(h)		0.32	%(i)(j)		0.38	%(k)		0.41	%(f)(l)
Gross expenses		4.31	%(f)(g)		3.88	%(h)		3.69	%(i)		4.10	%(k)		3.58	%(f)(l)
Net investment income		1.14	%(f)		1.08	%		1.60	%		1.98	%		1.40	%(f)
Portfolio turnover rate		18	%		95	%		74	%		65	%		15	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Amount rounds to less than $0.01 per share.

(c)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(d)	Periods less than one year are not annualized.

(e)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(f)	Computed on an annualized basis for periods less than one year.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.55% and 4.57%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.55% and 4.11%, respectively.

(i)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.58% and 3.95%, respectively.

(j)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.37%, respectively.

(l)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 3.82%, respectively.

See accompanying notes to financial statements.

| 92

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2025 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.42		$	10.89		$	10.22		$	11.54		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.06			0.12			0.17			0.21			0.13
Net realized and unrealized gain (loss)		1.05			1.41			1.12			(0.54	)		1.59

Total from Investment Operations		1.11			1.53			1.29			(0.33	)		1.72

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.16	)		(0.17	)		(0.20	)		(0.14	)
Net realized capital gains		(0.16	)		(0.84	)		(0.45	)		(0.79	)		(0.04	)

Total Distributions		(0.16	)		(1.00	)		(0.62	)		(0.99	)		(0.18	)

Net asset value, end of the period	$	12.37		$	11.42		$	10.89		$	10.22		$	11.54

Total return(b)		9.75	%(c)		14.35	%		12.73	%		(2.46	)%		17.31	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	9,600		$	7,192		$	6,015		$	3,757		$	3,518
Net expenses(d)		0.30	%(e)(f)		0.33	%(g)		0.34	%(h)(i)		0.42	%(j)		0.45	%(e)(k)
Gross expenses		1.86	%(e)(f)		3.00	%(g)		4.18	%(h)		4.88	%(j)		4.41	%(e)(k)
Net investment income		1.02	%(e)		1.08	%		1.59	%		1.88	%		1.30	%(e)
Portfolio turnover rate		7	%		84	%		67	%		59	%		16	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.56% and 2.12%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.56% and 3.23%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.59% and 4.43%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.56%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.11%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 4.61%, respectively.

See accompanying notes to financial statements.

93 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2030 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.97		$	11.15		$	10.39		$	11.79		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.07			0.12			0.17			0.19			0.12
Net realized and unrealized gain (loss)		1.26			1.60			1.19			(0.60	)		1.86

Total from Investment Operations		1.33			1.72			1.36			(0.41	)		1.98

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.18	)		(0.14	)		(0.18	)		(0.14	)
Net realized capital gains		(0.25	)		(0.72	)		(0.46	)		(0.81	)		(0.05	)

Total Distributions		(0.25	)		(0.90	)		(0.60	)		(0.99	)		(0.19	)

Net asset value, end of the period	$	13.05		$	11.97		$	11.15		$	10.39		$	11.79

Total return(b)		11.21	%(c)		15.88	%		13.12	%		(2.91	)%		19.79	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	11,437		$	7,665		$	6,250		$	3,194		$	3,033
Net expenses(d)		0.31	%(e)(f)		0.34	%(g)		0.37	%(h)(i)		0.48	%(j)		0.50	%(e)(k)
Gross expenses		1.66	%(e)(f)		2.88	%(g)		4.37	%(h)		5.34	%(j)		5.04	%(e)(k)
Net investment income		1.05	%(e)		1.06	%		1.55	%		1.68	%		1.22	%(e)
Portfolio turnover rate		9	%		69	%		80	%		65	%		15	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.57% and 1.92%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.57% and 3.11%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 4.60%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.57%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.51%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.19%, respectively.

See accompanying notes to financial statements.

| 94

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2035 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.02		$	11.24		$	10.46		$	12.01		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.06			0.11			0.16			0.17			0.11
Net realized and unrealized gain (loss)		1.46			1.70			1.33			(0.67	)		2.08

Total from Investment Operations		1.52			1.81			1.49			(0.50	)		2.19

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.17	)		(0.17	)		(0.17	)		(0.13	)
Net realized capital gains		(0.38	)		(0.86	)		(0.54	)		(0.88	)		(0.05	)

Total Distributions		(0.38	)		(1.03	)		(0.71	)		(1.05	)		(0.18	)

Net asset value, end of the period	$	13.16		$	12.02		$	11.24		$	10.46		$	12.01

Total return(b)		12.72	%(c)		16.62	%		14.29	%		(3.68	)%		21.95	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	9,843		$	7,322		$	5,566		$	4,099		$	3,112
Net expenses(d)		0.32	%(e)(f)		0.36	%(g)		0.39	%(h)(i)		0.52	%(j)		0.55	%(e)(k)
Gross expenses		1.96	%(e)(f)		3.05	%(g)		3.95	%(h)		5.12	%(j)		5.03	%(e)(k)
Net investment income		0.97	%(e)		0.97	%		1.47	%		1.52	%		1.13	%(e)
Portfolio turnover rate		15	%		89	%		63	%		74	%		14	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.58% and 2.22%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.58% and 3.27%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 4.16%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.58%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.25%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.13%, respectively.

See accompanying notes to financial statements.

95 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2040 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.69		$	11.18		$	10.43		$	12.20		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05			0.10			0.16			0.16			0.11
Net realized and unrealized gain (loss)		1.50			1.85			1.29			(0.75	)		2.26

Total from Investment Operations		1.55			1.95			1.45			(0.59	)		2.37

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.19	)		(0.15	)		(0.16	)		(0.12	)
Net realized capital gains		(0.34	)		(1.25	)		(0.55	)		(1.02	)		(0.05	)

Total Distributions		(0.34	)		(1.44	)		(0.70	)		(1.18	)		(0.17	)

Net asset value, end of the period	$	12.90		$	11.69		$	11.18		$	10.43		$	12.20

Total return(b)		13.36	%(c)		18.04	%		13.94	%		(4.19	)%		23.80	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	8,221		$	5,431		$	5,662		$	3,330		$	3,096
Net expenses(d)		0.32	%(e)(f)		0.36	%(g)		0.39	%(h)(i)		0.56	%(j)		0.59	%(e)(k)
Gross expenses		2.42	%(e)(f)		3.38	%(g)		4.45	%(h)		5.40	%(j)		5.04	%(e)(k)
Net investment income		0.85	%(e)		0.94	%		1.50	%		1.42	%		1.04	%(e)
Portfolio turnover rate		15	%		64	%		63	%		90	%		15	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.59% and 2.69%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.59% and 3.61%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.61% and 4.67%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.49%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 5.10%, respectively.

See accompanying notes to financial statements.

| 96

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2045 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	12.12		$	11.17		$	10.38		$	12.31		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.06			0.10			0.16			0.15			0.10
Net realized and unrealized gain (loss)		1.69			1.89			1.37			(0.81	)		2.39

Total from Investment Operations		1.75			1.99			1.53			(0.66	)		2.49

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.18	)		(0.15	)		(0.16	)		(0.12	)
Net realized capital gains		(0.17	)		(0.86	)		(0.59	)		(1.11	)		(0.06	)

Total Distributions		(0.17	)		(1.04	)		(0.74	)		(1.27	)		(0.18	)

Net asset value, end of the period	$	13.70		$	12.12		$	11.17		$	10.38		$	12.31

Total return(b)		14.51	%(c)		18.30	%		14.73	%		(4.53	)%		24.92	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	8,285		$	6,283		$	4,951		$	2,517		$	2,568
Net expenses(d)		0.31	%(e)(f)		0.37	%(g)		0.40	%(h)(i)		0.58	%(j)		0.61	%(e)(k)
Gross expenses		2.36	%(e)(f)		3.63	%(g)		5.12	%(h)		6.46	%(j)		5.97	%(e)(k)
Net investment income		0.85	%(e)		0.93	%		1.45	%		1.32	%		0.97	%(e)
Portfolio turnover rate		21	%		72	%		58	%		77	%		17	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.59% and 2.64%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.59% and 3.85%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.61% and 5.33%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.53%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.01%, respectively.

See accompanying notes to financial statements.

97 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2050 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.75		$	11.15		$	10.41		$	12.38		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05			0.10			0.16			0.15			0.10
Net realized and unrealized gain (loss)		1.67			1.92			1.35			(0.84	)		2.45

Total from Investment Operations		1.72			2.02			1.51			(0.69	)		2.55

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.18	)		(0.15	)		(0.16	)		(0.11	)
Net realized capital gains		(0.17	)		(1.24	)		(0.62	)		(1.12	)		(0.06	)

Total Distributions		(0.17	)		(1.42	)		(0.77	)		(1.28	)		(0.17	)

Net asset value, end of the period	$	13.30		$	11.75		$	11.15		$	10.41		$	12.38

Total return(b)		14.75	%(c)		18.94	%		14.57	%		(4.82	)%		25.64	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	7,279		$	5,017		$	4,557		$	2,492		$	2,514
Net expenses(d)		0.33	%(e)(f)		0.38	%(g)		0.41	%(h)(i)		0.59	%(j)		0.62	%(e)(k)
Gross expenses		2.60	%(e)(f)		4.00	%(g)		5.24	%(h)		6.42	%(j)		6.00	%(e)(k)
Net investment income		0.79	%(e)		0.90	%		1.43	%		1.29	%		0.94	%(e)
Portfolio turnover rate		18	%		80	%		75	%		83	%		18	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 2.87%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 4.22%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.62% and 5.45%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.48%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.03%, respectively.

See accompanying notes to financial statements.

| 98

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2055 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.53		$	11.11		$	10.43		$	12.38		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05			0.10			0.16			0.15			0.10
Net realized and unrealized gain (loss)		1.64			1.86			1.40			(0.83	)		2.45

Total from Investment Operations		1.69			1.96			1.56			(0.68	)		2.55

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.20	)		(0.16	)		(0.16	)		(0.11	)
Net realized capital gains		(0.16	)		(1.34	)		(0.72	)		(1.11	)		(0.06	)

Total Distributions		(0.16	)		(1.54	)		(0.88	)		(1.27	)		(0.17	)

Net asset value, end of the period	$	13.06		$	11.53		$	11.11		$	10.43		$	12.38

Total return(b)		14.71	%(c)		18.07	%		14.93	%		(4.80	)%		25.64	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	5,483		$	3,836		$	4,178		$	2,614		$	2,534
Net expenses(d)		0.32	%(e)(f)		0.39	%(g)		0.42	%(h)(i)		0.59	%(j)		0.62	%(e)(k)
Gross expenses		3.31	%(e)(f)		4.49	%(g)		5.63	%(h)		6.44	%(j)		5.98	%(e)(k)
Net investment income		0.77	%(e)		0.88	%		1.42	%		1.27	%		0.94	%(e)
Portfolio turnover rate		18	%		71	%		64	%		85	%		18	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 3.59%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 4.70%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.62% and 5.83%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.50%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.01%, respectively.

See accompanying notes to financial statements.

99 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2060 Fund—Class N
	Six Months Ended July 31, 2021 (Unaudited)			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Period Ended January 31, 2018*
Net asset value, beginning of the period	$	11.64		$	11.03		$	10.40		$	12.38		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.05			0.10			0.16			0.15			0.10
Net realized and unrealized gain (loss)		1.70			1.95			1.38			(0.82	)		2.45

Total from Investment Operations		1.75			2.05			1.54			(0.67	)		2.55

LESS DISTRIBUTIONS FROM:
Net investment income		—			(0.19	)		(0.17	)		(0.16	)		(0.11	)
Net realized capital gains		(0.22	)		(1.25	)		(0.74	)		(1.15	)		(0.06	)

Total Distributions		(0.22	)		(1.44	)		(0.91	)		(1.31	)		(0.17	)

Net asset value, end of the period	$	13.17		$	11.64		$	11.03		$	10.40		$	12.38

Total return(b)		15.10	%(c)		19.09	%		14.78	%		(4.56	)%		25.59	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	4,588		$	3,657		$	3,198		$	2,488		$	2,575
Net expenses(d)		0.32	%(e)(f)		0.38	%(g)		0.42	%(h)(i)		0.59	%(j)		0.62	%(e)(k)
Gross expenses		3.67	%(e)(f)		5.25	%(g)		6.03	%(h)		6.45	%(j)		5.97	%(e)(k)
Net investment income		0.79	%(e)		0.95	%		1.45	%		1.29	%		0.94	%(e)
Portfolio turnover rate		23	%		79	%		64	%		80	%		17	%

*	From commencement of operations on February 28, 2017 through January 31, 2018.

(a)	Per share net investment income has been calculated using the average shares outstanding during the period.

(b)	Had certain expenses not been waived/reimbursed during the period, total returns would have been lower.

(c)	Periods less than one year are not annualized.

(d)	The investment adviser agreed to waive its fees and/or reimburse a portion of the Fund’s expenses during the period. Without this waiver/reimbursement, expenses would have been higher.

(e)	Computed on an annualized basis for periods less than one year.

(f)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 3.95%, respectively.

(g)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.60% and 5.47%, respectively.

(h)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.62% and 6.23%, respectively.

(i)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(j)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.51%, respectively.

(k)	Does not include expenses of the underlying funds in which the Fund invests. Had underlying fund expenses been included, the net and gross expense ratios to average net assets would have been 0.65% and 6.00%, respectively.

See accompanying notes to financial statements.

| 100

Notes to Financial Statements

July 31, 2021 (Unaudited)

1. Organization. Natixis Funds Trust IV (the “Trust”) is organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Declaration of Trust permits the Board of Trustees to authorize the issuance of an unlimited number of shares of the Trust in multiple series. The financial statements for certain funds of the Trust are presented in separate reports. The following funds (individually, a “Fund” and collectively, the “Funds”) are included in this report:

Natixis Funds Trust IV:

Natixis Sustainable Future 2015 Fund^® (the “Sustainable Future 2015 Fund”)

Natixis Sustainable Future 2020 Fund^® (the “Sustainable Future 2020 Fund”)

Natixis Sustainable Future 2025 Fund^® (the “Sustainable Future 2025 Fund”)

Natixis Sustainable Future 2030 Fund^® (the “Sustainable Future 2030 Fund”)

Natixis Sustainable Future 2035 Fund^® (the “Sustainable Future 2035 Fund”)

Natixis Sustainable Future 2040 Fund^® (the “Sustainable Future 2040 Fund”)

Natixis Sustainable Future 2045 Fund^® (the “Sustainable Future 2045 Fund”)

Natixis Sustainable Future 2050 Fund^® (the “Sustainable Future 2050 Fund”)

Natixis Sustainable Future 2055 Fund^® (the “Sustainable Future 2055 Fund”)

Natixis Sustainable Future 2060 Fund^® (the “Sustainable Future 2060 Fund”)

Each Fund is a diversified investment company.

Each Fund offers Class N shares. Class N shares do not pay a front-end sales charge, a contingent deferred sales charge or Rule 12b-1 fees. Class N shares are offered with an initial minimum investment of $1,000,000. Certain categories of investors are exempted from the minimum investment amounts for Class N as outlined in the Funds’ prospectus.

2. Significant Accounting Policies. The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. The Funds’ financial statements follow the accounting and reporting guidelines provided for investment companies and are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Management has evaluated the events and transactions subsequent to period-end through the date the financial statements were issued and has determined that there were no material events that would require disclosure in the Funds’ financial statements.

a. Valuation. 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 or sub-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 or sub-adviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows:

101 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

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 Funds 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 a 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 a Fund.

c. Foreign Currency Translation. The books and records of the Funds are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. Purchases and sales of investment securities, income and expenses are translated into U.S. dollars on the respective dates of such transactions.

Net realized foreign exchange gains or losses arise from sales of foreign currency, changes in exchange rates between the trade and settlement dates on securities transactions and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investment securities, as of the end of the fiscal period, resulting from changes in exchange rates. Net realized foreign exchange gains or losses and the net change in unrealized foreign exchange gains or losses are disclosed in the Statements of Operations. For federal income tax purposes, net realized foreign exchange gains or losses are characterized as ordinary income, and may, if the Funds have net losses, reduce the amount of income available to be distributed by the Funds.

The values of investment securities are presented at the foreign exchange rates prevailing at the end of the period for financial reporting purposes. Net realized and unrealized gains or losses on investments reported in the Statements of Operations reflect gains or losses resulting from changes in exchange rates and fluctuations which arise due to changes in market prices of investment securities.

The Funds may use foreign currency exchange contracts to facilitate transactions in foreign-denominated investments. Losses may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts’ terms.

d. Federal and Foreign Income Taxes. The Trust treats each Fund as a separate entity for federal income tax purposes. Each Fund intends to meet the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute to its shareholders substantially all of its net investment income and any net realized capital gains at least annually. Management has performed an analysis of each Fund’s tax positions for the open tax years as of July 31, 2021 and has concluded that no provisions for income tax are required. The Funds’ federal tax returns for the prior years remain subject to examination by the Internal Revenue Service. Management is not aware of any events that are reasonably possible to occur in the next six months that would result in the amounts of any unrecognized tax benefits significantly increasing or decreasing for the Funds. However, management’s conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws and accounting regulations and interpretations thereof.

A Fund may be subject to foreign withholding taxes on investment income and taxes on capital gains on investments that are accrued and paid based upon the Fund’s understanding of the tax rules and regulations that exist in the countries in which the Fund invests. Foreign withholding taxes on dividend and interest income are reflected on the Statements of Operations as a reduction of investment income, net of amounts that have been or are expected to be reclaimed and paid. Dividends and interest receivable on the Statements of Assets and Liabilities are net of foreign withholding taxes. Foreign withholding taxes where reclaims have been or are expected to

| 102

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

be filed and paid are reflected on the Statements of Assets and Liabilities as tax reclaims receivable. Capital gains taxes paid are included in net realized gain (loss) on investments in the Statements of Operations. Accrued but unpaid capital gains taxes are reflected as foreign taxes payable on the Statements of Assets and Liabilities, if applicable, and reduce unrealized gains on investments. In the event that realized gains on investments are subsequently offset by realized losses, taxes paid on realized gains may be returned to a Fund. Such amounts, if applicable, are reflected as foreign tax rebates receivable on the Statements of Assets and Liabilities and are recorded as a realized gain when received.

e. Dividends and Distributions to Shareholders. Dividends and distributions are recorded on the ex-dividend date. The timing and characterization of certain income and capital gain distributions are determined in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. Permanent differences are primarily due to differing treatments for book and tax purposes of items such as paydown gains and losses, premium amortization, corporate actions, distribution re-designations, return of capital distributions received, capital gain distribution received and distributions received from underlying funds. Permanent book and tax basis differences relating to shareholder distributions, net investment income and net realized gains will result in reclassifications to capital accounts reported on the Statements of Assets and Liabilities. Temporary differences between book and tax distributable earnings are primarily due to deferred Trustees’ fees, wash sales and premium amortization. Amounts of income and capital gain available to be distributed on a tax basis are determined annually, and at other times during the Funds’ fiscal year as may be necessary to avoid knowingly declaring and paying a return of capital distribution. Distributions from net investment income and short-term capital gains are considered to be distributed from ordinary income for tax purposes.

The tax characterization of distributions is determined on an annual basis. The tax character of distributions paid to shareholders during the year ended January 31, 2021 was as follows:


	2021 Distributions
Fund	Ordinary Income		Long-Term Capital Gains		Total
Sustainable Future 2015 Fund	$	267,785	$	337,836	$	605,621
Sustainable Future 2020 Fund		355,113		351,060		706,173
Sustainable Future 2025 Fund		283,245		305,924		589,169
Sustainable Future 2030 Fund		319,330		218,168		537,498
Sustainable Future 2035 Fund		259,380		263,690		523,070
Sustainable Future 2040 Fund		246,499		343,563		590,062
Sustainable Future 2045 Fund		196,192		239,735		435,927
Sustainable Future 2050 Fund		235,300		277,219		512,519
Sustainable Future 2055 Fund		180,418		251,264		431,682
Sustainable Future 2060 Fund		144,087		231,539		375,626

Distributions paid to shareholders from net investment income and net realized capital gains, based on accounting principles generally accepted in the United States of America, are consolidated and reported on the Statements of Changes in Net Assets as Distributions to Shareholders. Distributions paid to shareholders from net investment income and net realized capital gains expressed in per-share amounts, based on accounting principles generally accepted in the United States of America, are separately stated and reported within the Financial Highlights.

As of July 31, 2021, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:


	Sustainable Future 2015 Fund			Sustainable Future 2020 Fund			Sustainable Future 2025 Fund			Sustainable Future 2030 Fund			Sustainable Future 2035 Fund
Federal tax cost	$	4,172,787		$	3,062,648		$	8,463,584		$	9,902,389		$	8,459,388

Gross tax appreciation	$	441,355		$	410,947		$	1,237,765		$	1,624,285		$	1,467,245
Gross tax depreciation		(26,550	)		(25,586	)		(47,377	)		(49,681	)		(45,221	)

Net tax appreciation	$	414,805		$	385,361		$	1,190,388		$	1,574,604		$	1,422,024

103 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)


	Sustainable Future 2040 Fund			Sustainable Future 2045 Fund			Sustainable Future 2050 Fund			Sustainable Future 2055 Fund			Sustainable Future 2060 Fund
Federal tax cost	$	7,104,981		$	7,100,080		$	6,203,638		$	4,710,297		$	3,893,102

Gross tax appreciation	$	1,194,691		$	1,260,797		$	1,139,089		$	838,324		$	765,053
Gross tax depreciation		(40,259	)		(42,667	)		(39,367	)		(29,261	)		(27,877	)

Net tax appreciation	$	1,154,432		$	1,218,130		$	1,099,722		$	809,063		$	737,176

Amounts in the table above exclude certain adjustments that will be made at the end of the Fund’s fiscal year for tax purposes. Adjustments may include, but are not limited to, wash sales.

f. Repurchase Agreements. Each Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which each Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is each 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 a Fund’s ability to dispose of the underlying securities. As of July 31, 2021, each Fund, as applicable, had investments in repurchase agreements for which the value of the related collateral exceeded the value of the repurchase agreement. The gross value of repurchase agreements is included in the Statements of Assets and Liabilities for financial reporting purposes.

g. Indemnifications. Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. The Funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

h. New Accounting Pronouncement. In March 2020, the Financial Accounting Standards Board issued Accounting Standard Update 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”). In response to concerns about structural risks of interbank offered rates, and particularly the risk of cessation of the London Interbank Offered Rate (“LIBOR”), which is expected to occur no later than June 30, 2023, regulators have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. ASU 2020-04 provides temporary guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 is elective and applies to all entities, subject to meeting certain criteria, that have contracts that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 amendments offer optional expedients for contract modifications that would allow an entity to account for such modifications by prospectively adjusting the effective interest rate, instead of evaluating each contract, in accordance with existing accounting standards, as to whether reference rate modifications constitute the establishment of new contracts or the continuation of existing contracts. ASU 2020-04 amendments are currently effective and an entity may elect to apply its provisions as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. No Fund contracts have yet been impacted by reference rate reform. Management expects to apply the optional expedients when appropriate.

3. Fair Value Measurements. In accordance with accounting standards related to fair value measurements and disclosures, the Funds have categorized the inputs utilized in determining the value of each 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 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 each 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.

| 104

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

The following is a summary of the inputs used to value the Funds’ investments as of July 31, 2021, at value:

Sustainable Future 2015 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,299,059	$	—	$	—	$	1,299,059
Bonds and Notes(a)		—		944,106		—		944,106
Exchange-Traded Funds		177,657		—		—		177,657
Mutual Funds		228,033		—		—		228,033
Affiliated Mutual Funds		1,818,413		—		—		1,818,413
Short-Term Investments		—		120,324		—		120,324

Total	$	3,523,162	$	1,064,430	$	—	$	4,587,592

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2020 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,171,668	$	—	$	—	$	1,171,668
Bonds and Notes(a)		—		664,178		—		664,178
Exchange-Traded Funds		151,084		—		—		151,084
Mutual Funds		216,299		—		—		216,299
Affiliated Mutual Funds		1,139,783		—		—		1,139,783
Short-Term Investments		—		104,997		—		104,997

Total	$	2,678,834	$	769,175	$	—	$	3,448,009

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2025 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	3,674,618	$	—	$	—	$	3,674,618
Bonds and Notes(a)		—		1,682,564		—		1,682,564
Exchange-Traded Funds		542,360		—		—		542,360
Mutual Funds		735,179		—		—		735,179
Affiliated Mutual Funds		2,676,484		—		—		2,676,484
Short-Term Investments		—		342,767		—		342,767

Total	$	7,628,641	$	2,025,331	$	—	$	9,653,972

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2030 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	5,025,394	$	—	$	—	$	5,025,394
Bonds and Notes(a)		—		1,618,820		—		1,618,820
Exchange-Traded Funds		790,826		—		—		790,826
Mutual Funds		889,559		—		—		889,559
Affiliated Mutual Funds		2,736,785		—		—		2,736,785
Short-Term Investments		—		415,609		—		415,609

Total	$	9,442,564	$	2,034,429	$	—	$	11,476,993

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

105 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Sustainable Future 2035 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	4,990,918	$	—	$	—	$	4,990,918
Bonds and Notes(a)		—		977,108		—		977,108
Exchange-Traded Funds		779,290		—		—		779,290
Mutual Funds		807,803		—		—		807,803
Affiliated Mutual Funds		2,033,328		—		—		2,033,328
Short-Term Investments		—		292,965		—		292,965

Total	$	8,611,339	$	1,270,073	$	—	$	9,881,412

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2040 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	4,602,380	$	—	$	—	$	4,602,380
Bonds and Notes(a)		—		519,019		—		519,019
Exchange-Traded Funds		730,440		—		—		730,440
Mutual Funds		715,990		—		—		715,990
Affiliated Mutual Funds		1,430,713		—		—		1,430,713
Short-Term Investments		—		260,871		—		260,871

Total	$	7,479,523	$	779,890	$	—	$	8,259,413

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2045 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	4,755,377	$	—	$	—	$	4,755,377
Bonds and Notes(a)		—		338,605		—		338,605
Exchange-Traded Funds		838,960		—		—		838,960
Mutual Funds		768,193		—		—		768,193
Affiliated Mutual Funds		1,286,382		—		—		1,286,382
Short-Term Investments		—		330,693		—		330,693

Total	$	7,648,912	$	669,298	$	—	$	8,318,210

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2050 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	4,299,251	$	—	$	—	$	4,299,251
Bonds and Notes(a)		—		295,776		—		295,776
Exchange-Traded Funds		815,729		—		—		815,729
Mutual Funds		694,011		—		—		694,011
Affiliated Mutual Funds		956,239		—		—		956,239
Short-Term Investments		—		242,354		—		242,354

Total	$	6,765,230	$	538,130	$	—	$	7,303,360

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

| 106

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Sustainable Future 2055 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	3,208,652	$	—	$	—	$	3,208,652
Bonds and Notes(a)		—		210,840		—		210,840
Exchange-Traded Funds		626,137		—		—		626,137
Mutual Funds		528,370		—		—		528,370
Affiliated Mutual Funds		712,594		—		—		712,594
Short-Term Investments		—		232,767		—		232,767

Total	$	5,075,753	$	443,607	$	—	$	5,519,360

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

Sustainable Future 2060 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	2,783,872	$	—	$	—	$	2,783,872
Bonds and Notes(a)		—		182,225		—		182,225
Exchange-Traded Funds		524,380		—		—		524,380
Mutual Funds		443,710		—		—		443,710
Affiliated Mutual Funds		598,353		—		—		598,353
Short-Term Investments		—		97,738		—		97,738

Total	$	4,350,315	$	279,963	$	—	$	4,630,278

(a)	Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.

4. Purchases and Sales of Securities. For the six months ended July 31, 2021, purchases and sales of securities (excluding short-term investments and including paydowns) were as follows:


	U.S. Government/Agency Securities				Other Securities
Fund	Purchases		Sales		Purchases		Sales
Sustainable Future 2015 Fund	$	201,595	$	205,904	$	1,629,029	$	1,594,049
Sustainable Future 2020 Fund		89,974		46,129		667,142		517,884
Sustainable Future 2025 Fund		286,670		115,148		1,997,408		497,540
Sustainable Future 2030 Fund		345,757		142,956		3,084,176		714,634
Sustainable Future 2035 Fund		279,195		145,929		2,489,150		1,196,263
Sustainable Future 2040 Fund		126,622		64,954		3,167,374		925,957
Sustainable Future 2045 Fund		85,546		35,623		2,413,232		1,403,156
Sustainable Future 2050 Fund		64,405		35,057		2,520,741		1,087,409
Sustainable Future 2055 Fund		45,578		19,372		1,779,827		777,711
Sustainable Future 2060 Fund		35,505		21,067		1,326,058		920,479

5. Management Fees and Other Transactions with Affiliates.

a. Management Fees. Natixis Advisors, LLC (“Natixis Advisors”) serves as investment adviser to each Fund. Natixis Advisors is a wholly-owned subsidiary of Natixis Investment Managers, LLC, which is part of Natixis Investment Managers, an international asset management group based in Paris, France. Natixis Advisors, through its Natixis Investment Managers Solutions division, makes investment decisions with respect to the AIA U.S. Large Cap Value ESG Segment, AIA U.S. Small/Mid Cap ESG Segment and AIA International Developed Markets Equity ESG Segment. Additionally, Natixis Advisors performs certain asset allocation, glide path monitoring and compliance responsibilities for each Fund, and oversees, evaluates and monitors the subadvisory services provided to each Fund. Under the terms of the management agreements, each Fund pays a management fee calculated daily and payable monthly, based on each Fund’s average daily net assets.

Natixis Advisors has entered into a subadvisory agreement with Harris Associates L.P. (“Harris”) with respect to the Harris Associates Large Cap Value Segment of each Fund. Harris is a limited partnership whose sole general partner, Harris Associates Inc., is a subsidiary of Natixis Investment Managers, LLC.

107 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Natixis Advisors has entered into a subadvisory agreement with Loomis, Sayles & Company, L.P. (“Loomis Sayles”) with respect to the Loomis Sayles All Cap Growth Segment and Loomis Sayles Core Fixed Income Segment of each Fund. Loomis Sayles is a limited partnership whose sole general partner, Loomis, Sayles & Company, Inc., is indirectly owned by Natixis Investment Managers, LLC.

Natixis Advisors has entered into a subadvisory agreement with Mirova US LLC (“Mirova US”) with respect to the Mirova US Climate Ambition Equity Segment of each Fund. Mirova US has entered into a personnel sharing arrangement with its Paris-based affiliate, Mirova, which is part of Natixis Investment Managers.

The aggregate management fee to be paid by each Fund is equal to the sum of: (i) 0.165% of the average daily net assets of the AIA U.S. Large Cap Value ESG Segment, (ii) 0.20% of the average daily net assets of the AIA U.S. Small/Mid Cap ESG Segment, and (iii) 0.20% of the average daily net assets of the AIA International Developed Markets Equity ESG Segment, each payable to Natixis Advisors as adviser; (iv) 0.52% of the average daily net assets of the Harris Associates Large Cap Value Segment, payable by the Fund directly to Harris as sub-adviser; (v) 0.35% of the average daily net assets of the Loomis Sayles All Cap Growth Segment, and (vi) 0.15% of the average daily net assets of the Loomis Sayles Core Fixed Income Segment, each payable by the Fund directly to Loomis Sayles as sub-adviser; (vii) 0.25% of the average daily net assets of the Mirova US Climate Ambition Equity Segment, payable by the Fund directly to Mirova US as sub-adviser. The aggregate management fee payable by each Fund is subject to a maximum equal to the sum of: (i) 0.25% of the average daily net assets of each segment managed directly by Natixis Advisors and (ii) 0.70% of the average daily net assets of any segment managed by any sub-adviser.

Management fees payable to Natixis Advisors with respect to the AIA International Developed Markets Equity ESG Segment were voluntarily waived.

Natixis Advisors has given binding undertakings to the Funds to waive management fees and/or reimburse certain expenses, including fees paid to the sub-advisers and expenses of the underlying funds in which each fund invests, to limit the Funds’ operating expenses, exclusive of brokerage expenses, interest expense, taxes, organizational and extraordinary expenses, such as litigation and indemnification expenses. These undertakings are in effect until May 31, 2022, may be terminated before then only with the consent of the Funds’ Board of Trustees, and are reevaluated on an annual basis. Management fees payable, as reflected on the Statements of Assets and Liabilities, is net of waivers and/or expense reimbursements, if any, pursuant to these undertakings. Waivers/reimbursements that exceed management fees payable are reflected on the Statements of Assets and Liabilities as receivable from investment adviser.

For the six months ended July 31, 2021, the Funds’ expense limit as a percentage of average daily net assets under the expense limitation agreements, including expenses of the underlying funds in which each Fund invests, were as follows:


Fund	Expense Limit as a Percentage of Average Daily Net Assets
Sustainable Future 2015 Fund		0.55	%
Sustainable Future 2020 Fund		0.55	%
Sustainable Future 2025 Fund		0.56	%
Sustainable Future 2030 Fund		0.57	%
Sustainable Future 2035 Fund		0.58	%
Sustainable Future 2040 Fund		0.59	%
Sustainable Future 2045 Fund		0.59	%
Sustainable Future 2050 Fund		0.60	%
Sustainable Future 2055 Fund		0.60	%
Sustainable Future 2060 Fund		0.60	%

Natixis Advisors shall be permitted to recover expenses borne under the expense limitation agreements (whether through waiver of management fees or otherwise) in later periods to the extent a Fund’s annual operating expenses fall below both (1) a Funds’ expense limitation ratio in place at the time such amounts were waived/reimbursed and (2) a Funds’ current applicable expense limitation ratio, provided, however, that a Fund is not obligated to pay such waived/reimbursed fees or expenses more than one year after the end of the fiscal year in which the fees or expenses were waived/reimbursed.

| 108

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

For the six months ended July 31, 2021, the management fees and waivers/reimbursements of management fees for each Fund were as follows:


Fund	Gross Management Fees		Contractual Waivers of Management Fees¹		Voluntary Waivers of Management Fees²		Reimbursement of Sub-Adviser Fees³		Net Management Fees		Percentage of Average Daily Net Assets
Fund	Gross Management Fees		Contractual Waivers of Management Fees¹		Voluntary Waivers of Management Fees²		Reimbursement of Sub-Adviser Fees³		Net Management Fees		Gross			Net
Sustainable Future 2015 Fund	$	3,026	$	400	$	183	$	2,443		—		0.13	%		—
Sustainable Future 2020 Fund		2,468		341		146		1,981		—		0.15	%		—
Sustainable Future 2025 Fund		7,065		1,007		475		5,583		—		0.16	%		—
Sustainable Future 2030 Fund		8,865		1,372		649		6,844		—		0.18	%		—
Sustainable Future 2035 Fund		8,635		1,405		640		6,590		—		0.19	%		—
Sustainable Future 2040 Fund		7,191		1,137		534		5,520		—		0.21	%		—
Sustainable Future 2045 Fund		7,741		1,250		641		5,850		—		0.21	%		—
Sustainable Future 2050 Fund		6,903		1,155		605		5,143		—		0.22	%		—
Sustainable Future 2055 Fund		4,996		834		438		3,724		—		0.22	%		—
Sustainable Future 2060 Fund		4,607		771		403		3,433		—		0.22	%		—

¹	Waiver of Natixis Advisors’ management fee with respect to the AIA U.S. Large Cap Value ESG and AIA U.S. Small/Mid Cap ESG Segments is subject to possible recovery until January 31, 2023.

²	Voluntary waiver of Natixis Advisors’ management fee is not subject to recovery under the expense limitation agreements described above.

³	Contractual reimbursements of fees paid directly to sub-advisers are subject to possible recovery until January 31, 2023.

For the six months ended July 31, 2021, expenses have been reimbursed as follows (including fees paid to the sub-advisers included in the table above):


Fund	Sub-Adviser Fees⁴		Other Expenses⁴		Total Reimbursement⁴
Sustainable Future 2015 Fund	$	2,443	$	66,242	$	68,685
Sustainable Future 2020 Fund		1,981		62,939		64,920
Sustainable Future 2025 Fund		5,583		60,090		65,673
Sustainable Future 2030 Fund		6,844		57,814		64,658
Sustainable Future 2035 Fund		6,590		64,108		70,698
Sustainable Future 2040 Fund		5,520		65,108		70,628
Sustainable Future 2045 Fund		5,850		66,474		72,324
Sustainable Future 2050 Fund		5,143		65,528		70,671
Sustainable Future 2055 Fund		3,724		64,052		67,776
Sustainable Future 2060 Fund		3,433		66,620		70,053

⁴	Contractual expense reimbursements are subject to possible recovery until January 31, 2023.

No expenses were recovered during the six months ended July 31, 2021 under the terms of the expense limitation agreement.

c. Administrative Fees. Natixis Advisors provides certain administrative services for the Funds and contracts with State Street Bank and Trust Company (“State Street Bank”) to serve as sub-administrator. Pursuant to an agreement among Natixis Funds Trusts, Loomis Sayles Funds Trusts, Natixis ETF Trusts and Natixis Advisors, each Fund pays Natixis Advisors monthly its pro rata portion of fees equal to an annual rate of 0.0540% of the first $15 billion of the average daily net assets of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, 0.0500% of the next $15 billion, 0.0400% of the next $30 billion, 0.0275% of the next $30 billion and 0.0225% of such assets in excess of $90 billion, subject to an annual aggregate minimum fee for the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts of $10 million, which is reevaluated on an annual basis.

109 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

For the six months ended July 31, 2021, the administrative fees for each Fund were as follows:


Fund	Administrative Fees
Sustainable Future 2015 Fund	$	979
Sustainable Future 2020 Fund		695
Sustainable Future 2025 Fund		1,835
Sustainable Future 2030 Fund		2,112
Sustainable Future 2035 Fund		1,898
Sustainable Future 2040 Fund		1,467
Sustainable Future 2045 Fund		1,548
Sustainable Future 2050 Fund		1,361
Sustainable Future 2055 Fund		985
Sustainable Future 2060 Fund		907

d. Trustees Fees and Expenses. The Trust does not pay any compensation directly to its officers or Trustees who are directors, officers or employees of Natixis Advisors, Natixis Distribution, Natixis Investment Managers, LLC or their affiliates. The Chairperson of the Board of Trustees receives a retainer fee at the annual rate of $369,000. The Chairperson does not receive any meeting attendance fees for Board of Trustees meetings or committee meetings that he attends. Each Independent Trustee (other than the Chairperson) receives, in the aggregate, a retainer fee at the annual rate of $199,000. Each Independent Trustee also receives a meeting attendance fee of $10,000 for each meeting of the Board of Trustees that he or she attends in person and $5,000 for each meeting of the Board of Trustees that he or she attends telephonically. In addition, the chairperson of the Contract Review Committee, the chairperson of the Audit Committee and the chairperson of the Governance Committee each receive an additional retainer fee at the annual rate of $20,000. Each Contract Review Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. Each Audit Committee member is compensated $6,000 for each Committee meeting that he or she attends in person and $3,000 for each meeting that he or she attends telephonically. These fees are allocated among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts based on a formula that takes into account, among other factors, the relative net assets of each fund. Trustees are reimbursed for travel expenses in connection with attendance at meetings.

A deferred compensation plan (the “Plan”) is available to the Trustees on a voluntary basis. Deferred amounts remain in the Funds until distributed in accordance with the provisions of the Plan. The value of a participating Trustee’s deferral account is based on theoretical investments of deferred amounts, on the normal payment dates, in certain funds of the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts as designated by the participating Trustees. Changes in the value of participants’ deferral accounts are allocated pro rata among the funds in the Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, and are normally reflected as Trustees’ fees and expenses in the Statements of Operations. The portions of the accrued obligations allocated to the Funds under the Plan are reflected as Deferred Trustees’ fees in the Statements of Assets and Liabilities.

Certain officers and employees of Natixis Advisors and its affiliates are also officers and/or Trustees of the Trust.

e. Affiliated Ownership. As of July 31, 2021, Natixis Investment Managers, LLC held shares of Sustainable Future 2060 Fund representing 31.03% of the Fund’s net assets. Investment activities of affiliated shareholders could have material impacts on the Funds.

f. Payment by Affiliates. For the six months ended July 31, 2021, Loomis Sayles reimbursed Sustainable Future 2035 Fund $1,133 in connection with a trading error.

| 110

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

g. Affiliated Fund Transactions. A summary of affiliated fund transactions for each underlying fund held by the Funds for the six months ended July 31, 2021, is as follows:

Sustainable Future 2015 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	543,559	$	296,671	$	233,181	$	25,309	$	(11,259	)	$	621,099	$	10,136
Loomis Sayles Limited Term Government and Agency Fund, Class N		478,029		242,783		184,590		1,958		(4,658	)		533,522		2,473
Mirova Global Green Bond Fund, Class N		436,726		218,595		166,084		4,351		(10,852	)		482,736		4,031
Mirova International Sustainable Equity Fund, Class N		175,572		61,484		72,274		22,058		(5,784	)		181,056		1,895

	$	1,633,886	$	819,533	$	656,129	$	53,676	$	(32,553	)	$	1,818,413	$	18,535

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2020 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	243,143	$	100,354	$	40,052	$	2,424		$	5,690		$	311,559	$	5,017
Loomis Sayles Limited Term Government and Agency Fund, Class N		282,763		100,421		36,954		(51	)		(1,285	)		344,894		1,518
Mirova Global Green Bond Fund, Class N		269,329		98,310		35,127		51			(3,100	)		329,463		2,655
Mirova International Sustainable Equity Fund, Class N		138,776		25,043		24,059		3,334			10,773			153,867		1,618

	$	934,011	$	324,128	$	136,192	$	5,758		$	12,078		$	1,139,783	$	10,808

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2025 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	386,121	$	167,945	$	3,958	$	500	$	14,328		$	564,936	$	8,477
Loomis Sayles Limited Term Government and Agency Fund, Class N		557,438		224,412		1,016		14		(2,441	)		778,407		3,065
Mirova Global Green Bond Fund, Class N		555,694		234,338		1,715		85		(5,234	)		783,168		5,791
Mirova International Sustainable Equity Fund, Class N		385,086		126,932		5,569		1,784		41,740			549,973		4,794

	$	1,884,339	$	753,627	$	12,258	$	2,383	$	48,393		$	2,676,484	$	22,127

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

111 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Sustainable Future 2030 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	393,284	$	193,429	$	23,037	$	3,066	$	12,992		$	579,734	$	9,061
Loomis Sayles Limited Term Government and Agency Fund, Class N		390,030		220,597		13,312		179		(1,844	)		595,650		2,309
Mirova Global Green Bond Fund, Class N		507,378		281,571		19,796		841		(5,229	)		764,765		5,446
Mirova International Sustainable Equity Fund, Class N		529,359		233,353		27,577		8,614		52,887			796,636		6,333

	$	1,820,051	$	928,950	$	83,722	$	12,700	$	58,806		$	2,736,785	$	23,149

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2035 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	316,998	$	115,560	$	34,487	$	4,480	$	6,493		$	409,044	$	6,614
Loomis Sayles Limited Term Government and Agency Fund, Class N		277,491		105,821		20,076		251		(1,423	)		362,064		1,486
Mirova Global Green Bond Fund, Class N		355,881		142,685		29,015		1,363		(4,591	)		466,323		3,518
Mirova International Sustainable Equity Fund, Class N		525,338		255,949		46,175		17,351		43,434			795,897		6,459

	$	1,475,708	$	620,015	$	129,753	$	23,445	$	43,913		$	2,033,328	$	18,077

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2040 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	140,788	$	89,486	$	16,518	$	2,022	$	4,128		$	219,906	$	3,405
Loomis Sayles Limited Term Government and Agency Fund, Class N		112,782		74,815		11,401		129		(589	)		175,736		678
Mirova Global Green Bond Fund, Class N		196,967		121,023		19,925		536		(2,103	)		296,498		2,095
Mirova International Sustainable Equity Fund, Class N		427,161		299,931		42,071		16,065		37,487			738,573		5,382

	$	877,698	$	585,255	$	89,915	$	18,752	$	38,923		$	1,430,713	$	11,560

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

| 112

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Sustainable Future 2045 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	132,533	$	55,472	$	22,839	$	2,887	$	1,757		$	169,810	$	2,777
Loomis Sayles Limited Term Government and Agency Fund, Class N		99,640		46,242		15,316		218		(625	)		130,159		535
Mirova Global Green Bond Fund, Class N		99,388		61,218		16,917		465		(1,245	)		142,909		1,007
Mirova International Sustainable Equity Fund, Class N		534,741		335,401		89,745		29,469		33,638			843,504		6,560

	$	866,302	$	498,333	$	144,817	$	33,039	$	33,525		$	1,286,382	$	10,879

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2050 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	—	$	17,765	$	1,380	$	43	$	481		$	16,909	$	117
Mirova Global Green Bond Fund, Class N		78,218		41,378		10,483		297		(983	)		108,427		803
Mirova International Sustainable Equity Fund, Class N		478,716		352,468		58,664		16,087		42,296			830,903		6,171

	$	556,934	$	411,611	$	70,527	$	16,427	$	41,794		$	956,239	$	7,091

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Sustainable Future 2055 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Mirova Global Green Bond Fund, Class N	$	60,961	$	28,960	$	6,788	$	99	$	(697	)	$	82,535	$	616
Mirova International Sustainable Equity Fund, Class N		372,937		227,830		14,778		5,255		38,815			630,059		4,741

	$	433,898	$	256,790	$	21,566	$	5,354	$	38,118		$	712,594	$	5,357

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

113 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

Sustainable Future 2060 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)		Change in Unrealized Gain (Loss)			Ending Value		Distribution Received⁽²⁾
Mirova Global Green Bond Fund, Class N	$	57,185	$	24,758	$	12,101	$	435	$	(980	)	$	69,297	$	566
Mirova International Sustainable Equity Fund, Class N		356,124		219,633		88,472		23,494		18,277			529,056		4,465

	$	413,309	$	244,391	$	100,573	$	23,929	$	17,297		$	598,353	$	5,031

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

Financial statements of Loomis Sayles Inflation Protected Securities Fund, Loomis Sayles Limited Term Government and Agency Fund, Mirova Global Green Bond Fund and Mirova International Sustainable Equity Fund are available, without charge, on the Funds’ website at im.natixis.com.

h. Acquired Fund Fees and Expenses. Each Fund will indirectly realize its pro rata share of the fees and expenses of the underlying funds in which it invests. These fees and expenses are reflected in the valuation of the underlying funds.

6. Line of Credit. Each Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, entered into a $500,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (as long as all borrowings by all Funds in the aggregate do not exceed the $500,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit. Interest is charged to the Funds based upon the terms set forth in the agreement. In addition, a commitment fee of 0.15% per annum, payable at the end of each calendar quarter, is accrued and apportioned among the participating funds based on their average daily unused portion of the line of credit. The Funds paid an arrangement fee, an upfront fee, and certain other legal fees in connection with the line of credit agreement, which are being amortized over a period of 364 days and are reflected in legal fees and/or miscellaneous expenses on the Statements of Operations. The unamortized balance is reflected as prepaid expenses on the Statements of Assets and Liabilities.

Prior to April 8, 2021, each Fund, together with certain other funds of Natixis Funds Trusts, Loomis Sayles Funds Trusts and Natixis ETF Trusts, entered into a $400,000,000 committed unsecured line of credit provided by State Street Bank. Any one Fund may borrow up to $350,000,000 under the line of credit agreement (as long as all borrowings by all Funds in the aggregate do not exceed the $400,000,000 limit at any time), subject to each Fund’s investment restrictions and its contractual obligations under the line of credit.

For the six months ended July 31, 2021, Sustainable Future 2015 Fund had an average daily balance on the line of credit (for those days on which there were borrowings) of $320,000 at a weighted average interest rate of 1.11%. Interest expense incurred on the line of credit was $49.

7. Payable to Custodian Bank. The Funds’ custodian bank, State Street Bank, provides overdraft protection to the Funds in the event of a cash shortfall. Cash overdrafts may bear interest at a rate per annum periodically determined by State Street Bank. As of July 31, 2021, the Funds had payables to the custodian bank for overdrafts, as follows:


Fund	Payable to Custodian Bank
Sustainable Future 2015 Fund	$	1,034
Sustainable Future 2020 Fund		916
Sustainable Future 2025 Fund		834
Sustainable Future 2030 Fund		752
Sustainable Future 2035 Fund		824
Sustainable Future 2045 Fund		201
Sustainable Future 2050 Fund		270
Sustainable Future 2055 Fund		587
Sustainable Future 2060 Fund		115,372

| 114

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

8. Concentration of Ownership. From time to time, a Fund may have a concentration of one or more accounts constituting a significant percentage of shares outstanding. Investment activities by holders of such accounts could have material impacts on the Fund. As of July 31, 2021, based on management’s evaluation of the shareholder account base, the Funds had accounts representing controlling ownership of more than 5% of the Funds’ total outstanding shares. The number of such accounts, based on accounts that represent more than 5% of an individual class of shares, and the aggregate percentage of net assets represented by such holdings were as follows:


Fund	Number of 5% Non-Affiliated Account Holders		Percentage of Non-Affiliated Ownership			Percentage of Affiliated Ownership (Note 5e)			Total Percentage of Ownership
Sustainable Future 2015 Fund		5		94.39	%		—			94.39	%
Sustainable Future 2020 Fund		6		86.22	%		—			86.22	%
Sustainable Future 2025 Fund		3		72.18	%		—			72.18	%
Sustainable Future 2030 Fund		3		52.74	%		—			52.74	%
Sustainable Future 2035 Fund		7		68.93	%		—			68.93	%
Sustainable Future 2040 Fund		4		42.48	%		—			42.48	%
Sustainable Future 2045 Fund		3		38.53	%		—			38.53	%
Sustainable Future 2050 Fund		3		24.69	%		—			24.69	%
Sustainable Future 2055 Fund		5		40.41	%		—			40.41	%
Sustainable Future 2060 Fund		2		18.83	%		31.03	%		49.86	%

9. Risk. Global markets have experienced periods of high volatility triggered by the Covid-19 pandemic. The impact of this pandemic and any other epidemic or pandemic that may arise in the future could adversely affect the economies of many nations or the entire global economy and the financial performance of individual issuers, sectors, industries, asset classes, and markets in significant and unforeseen ways. Such effects could impair the Funds’ ability to maintain operational standards, disrupt the operations of the Funds’ service providers, adversely affect the value and liquidity of the Funds’ investments and negatively impact the Funds’ performance.

10. Capital Shares. Each Fund may issue an unlimited number of shares of beneficial interest, without par value. Transactions in capital shares were as follows:

Sustainable Future 2015 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		227,520		$	2,401,061			188,689		$	1,958,189
Issued in connection with the reinvestment of distributions		5,762			61,190			58,720			605,621
Redeemed		(225,872	)		(2,387,770	)		(420,475	)		(4,680,627	)

Increase (decrease) from capital share transactions		7,410		$	74,481			(173,066	)	$	(2,116,817	)

Sustainable Future 2020 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		112,245		$	1,086,237			431,269		$	4,536,134
Issued in connection with the reinvestment of distributions		3,584			34,908			75,137			706,173
Redeemed		(89,873	)		(873,144	)		(758,792	)		(8,208,482	)

Increase (decrease) from capital share transactions		25,956		$	248,001			(252,386	)	$	(2,966,175	)

115 |

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

10. Capital Shares (continued).

Sustainable Future 2025 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		142,539		$	1,695,112			415,638		$	4,756,099
Issued in connection with the reinvestment of distributions		9,353			111,213			52,480			589,169
Redeemed		(5,286	)		(64,213	)		(390,946	)		(4,494,056	)

Increase from capital share transactions		146,606		$	1,742,112			77,172		$	851,212

Sustainable Future 2030 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		271,605		$	3,404,429			381,814		$	4,318,284
Issued in connection with the reinvestment of distributions		14,375			179,682			47,072			537,498
Redeemed		(49,529	)		(616,818	)		(349,011	)		(4,017,674	)

Increase from capital share transactions		236,451		$	2,967,293			79,875		$	838,108

Sustainable Future 2035 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		170,822		$	2,164,859			546,038		$	6,078,089
Issued in connection with the reinvestment of distributions		20,462			256,997			45,133			523,070
Redeemed		(52,225	)		(671,743	)		(477,220	)		(5,397,816	)

Increase from capital share transactions		139,059		$	1,750,113			113,951		$	1,203,343

Sustainable Future 2040 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		195,155		$	2,435,566			268,284		$	3,104,116
Issued in connection with the reinvestment of distributions		13,031			160,409			52,226			590,062
Redeemed		(35,434	)		(440,126	)		(362,463	)		(4,282,002	)

Increase (decrease) from capital share transactions		172,752		$	2,155,849			(41,953	)	$	(587,824	)

Sustainable Future 2045 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		153,391		$	2,000,569			325,175		$	3,804,645
Issued in connection with the reinvestment of distributions		6,792			88,435			37,547			435,927
Redeemed		(73,687	)		(948,197	)		(287,685	)		(3,336,030	)

Increase from capital share transactions		86,496		$	1,140,807			75,037		$	904,542

| 116

Notes to Financial Statements (continued)

July 31, 2021 (Unaudited)

10. Capital Shares (continued).

Sustainable Future 2050 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		195,801		$	2,467,663			261,010		$	2,983,171
Issued in connection with the reinvestment of distributions		6,564			83,033			45,699			512,519
Redeemed		(82,046	)		(1,028,688	)		(288,755	)		(3,339,015	)

Increase from capital share transactions		120,319		$	1,522,008			17,954		$	156,675

Sustainable Future 2055 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		158,992		$	1,997,595			166,800		$	1,914,874
Issued in connection with the reinvestment of distributions		4,545			56,446			38,539			431,682
Redeemed		(76,714	)		(955,780	)		(248,490	)		(2,891,094	)

Increase (decrease) from capital share transactions		86,823		$	1,098,261			(43,151	)	$	(544,538	)

Sustainable Future 2060 Fund


	Six Months Ended July 31, 2021						Year Ended January 31, 2021
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		120,120		$	1,518,248			195,588		$	2,218,316
Issued in connection with the reinvestment of distributions		5,792			72,456			33,287			375,626
Redeemed		(91,732	)		(1,169,299	)		(204,604	)		(2,348,721	)

Increase from capital share transactions		34,180		$	421,405			24,271		$	245,221

117 |

(b) Not applicable.

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

Included as part of the Report to Shareholders filed as Item 1 herewith.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Securities Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.

Item 11. Controls and Procedures.

The Registrant’s principal executive officer and principal financial officer have concluded that the Registrant’s disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

There were no changes in the Registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a)

(1) Not applicable.

(a)

(2) Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)), filed herewith as Exhibits (a)(2)(1) and (a)(2)(2), respectively.

(b)

Certifications of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002 are filed herewith as Exhibit (b).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Natixis Funds Trust IV

By:		/s/ David L. Giunta
Name:		David L. Giunta
Title:		President and Chief Executive Officer
Date:		September 22, 2021

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ David L. Giunta
Name:		David L. Giunta
Title:		President and Chief Executive Officer
Date:		September 22, 2021


By:		/s/ Michael C. Kardok
Name:		Michael C. Kardok
Title:		Treasurer and Principal Financial and Accounting Officer
Date:		September 22, 2021

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