Natixis Funds Trust IV NCSRS Certified 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)

Susan McWhan Tobin, 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) 449-2139

Date of fiscal year end: January 31

Date of reporting period: July 31, 2022

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, 2022

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, 2022^3,5



																Expense Ratios⁴

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

Class Y
NAV		-10.63	%		-10.15	%		4.17	%		6.35	%		—	%		1.16	%		0.90	%

Class A
NAV		-10.72			-10.35			3.92			6.09			—			1.42			1.15
With 5.75% Maximum Sales Charge		-15.86			-15.51			2.69			5.46			—

Class C
NAV		-11.11			-11.07			3.10			5.45			—			2.18			1.90
With CDSC¹		-11.99			-11.92			3.10			5.45			—

Class N (Inception 5/01/13)
NAV		-10.65			-10.08			4.21			—			5.51			1.10			0.85

Comparative Performance

FTSE EPRA Nareit Developed Index (Net)²		-9.17			-9.99			3.15			5.12			3.32

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. 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, and includes automatic conversion to Class A shares after eight years.

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 5/31/23. 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, 2022 through July 31, 2022. 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 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class A
Actual		$1,000.00		$ 892.80		$5.40
Hypothetical (5% return before expenses)		$1,000.00		$1,019.09		$5.76
Class C
Actual		$1,000.00		$ 888.90		$8.90
Hypothetical (5% return before expenses)		$1,000.00		$1,015.37		$9.49
Class N
Actual		$1,000.00		$ 893.50		$3.99
Hypothetical (5% return before expenses)		$1,000.00		$1,020.58		$4.26
Class Y
Actual		$1,000.00		$ 893.70		$4.23
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, allocations to brokers affiliated with the Adviser and 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, where available, 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, total return information for various periods, third-party performance rankings for various periods comparing the Fund against similarly categorized funds, and performance ratings provided by a different third-party rating organization. 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 2022. 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, such as new rules relating to the fair valuation of investments and the use of derivatives.

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, 2021, 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		32	%		61	%		76	%

The Board noted that the Fund’s performance lagged that of the Fund’s category group median as determined by the independent third party for certain periods. 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 was stronger relative to its category; 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, as well as more recent market volatility, 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, 2023.

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LIQUIDITY RISK MANAGEMENT PROGRAM

Annual Report for the Period Commencing on January 1, 2021 and ending December 31, 2021 (including updates through July 31, 2022)

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, each of the Fund’s portfolio 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 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”). The Fund has not established an HLIM.

During the period from January 1, 2021 to December 31, 2021, 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, 2022 through July 31, 2022, 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 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, 2022 (Unaudited)

AEW Global Focused Real Estate Fund


Shares		Description	Value (†)
	Common Stocks — 92.2%
		Australia — 3.0%
	329,970	GPT Group (The)	$	1,061,579
	56,660	Home Consortium REIT Ltd.		213,370
	851,930	Scentre Group		1,745,811
	167,409	Stockland		453,626

				3,474,386

		Belgium — 0.5%
	5,103	Cofinimmo S.A.		574,286

		Canada — 3.0%
	233,780	Summit Industrial Income REIT		3,401,133

		France — 1.2%
	5,808	Gecina S.A.		595,498
	21,415	Klepierre S.A.		475,842
	30,330	Mercialys S.A.		268,853

				1,340,193

		Germany — 2.6%
	15,241	LEG Immobilien SE		1,384,573
	46,396	Vonovia SE		1,545,905

				2,930,478

		Hong Kong — 4.2%
	196,500	CK Asset Holdings Ltd.		1,391,166
	153,600	Link REIT		1,286,297
	234,903	Sino Land Co. Ltd.		349,027
	62,500	Sun Hung Kai Properties Ltd.		746,071
	236,200	Swire Properties Ltd.		562,801
	110,696	Wharf Real Estate Investment Co. Ltd.		492,731

				4,828,093

		Japan — 8.8%
	949	AEON REIT Investment Corp.		1,113,074
	1,361	GLP J-REIT		1,789,925
	1,309	Japan Hotel REIT Investment Corp.		679,312
	315	Japan Prime Realty Investment Corp.		961,912
	97,541	Mitsui Fudosan Co. Ltd.		2,179,984
	91	Nippon Building Fund, Inc.		482,732
	52,450	Nomura Real Estate Holdings, Inc.		1,272,403
	1,372	United Urban Investment Corp.		1,495,623

				9,974,965

		Netherlands — 0.3%
	5,927	Unibail-Rodamco-Westfield(a)		336,563

		Singapore — 2.8%
	787,187	Ascendas Real Estate Investment Trust		1,694,387
	635,500	Ascott Residence Trust		539,674
	847,400	Suntec Real Estate Investment Trust		989,753

				3,223,814

		Spain — 1.0%
	101,282	Merlin Properties SOCIMI S.A.		1,086,331

		Sweden — 1.3%
	67,266	Castellum AB		1,078,410
	44,686	Fastighets AB Balder, B Shares(a)		285,457
	79,628	Samhallsbyggnadsbolaget i Norden AB		147,747

				1,511,614

		United Kingdom — 4.6%
	30,817	Big Yellow Group PLC	$	534,571
	138,636	British Land Co. PLC (The)		833,582
	66,505	Safestore Holdings PLC		926,056
	122,644	Segro PLC		1,640,729
	44,478	Sirius Real Estate Ltd.		51,772
	537,586	Tritax Big Box REIT PLC		1,293,388

				5,280,098

		United States — 58.9%
	17,310	Alexandria Real Estate Equities, Inc.		2,869,652
	98,570	American Homes 4 Rent, Class A		3,733,832
	6,397	American Tower Corp.		1,732,499
	212,980	Brixmor Property Group, Inc.		4,936,876
	88,090	CubeSmart		4,040,688
	18,364	EastGroup Properties, Inc.		3,131,797
	8,830	Equinix, Inc.		6,214,024
	12,235	Essex Property Trust, Inc.		3,505,694
	134,410	Independence Realty Trust, Inc.		2,983,902
	14,970	Kilroy Realty Corp.		811,075
	31,236	Life Storage, Inc.		3,932,300
	47,060	ProLogis, Inc.		6,238,274
	25,600	Realty Income Corp.		1,894,144
	14,870	Ryman Hospitality Properties, Inc.(a)		1,316,590
	24,293	Sun Communities, Inc.		3,983,080
	92,410	UDR, Inc.		4,472,644
	102,774	Ventas, Inc.		5,527,186
	165,056	VICI Properties, Inc.		5,643,265

				66,967,522

		Total Common Stocks (Identified Cost $107,789,169)		104,929,476

Principal Amount
	Short-Term Investments — 1.9%
$	2,124,405	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $2,124,520 on 8/01/2022 collateralized by $2,369,500 U.S. Treasury Note, 1.125% due 8/31/2028 valued at $2,166,906 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $2,124,405)		2,124,405


		Total Investments — 94.1% (Identified Cost $109,913,574)		107,053,881
		Other Assets Less Liabilities — 5.9%		6,680,896

		Net Assets — 100.0%	$	113,734,777


	(†)	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

See accompanying notes to financial statements.

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Portfolio of Investments – as of July 31, 2022 (Unaudited)

AEW Global Focused Real Estate Fund – (continued)

Industry Summary at July 31, 2022 (Unaudited)


REITs — Diversified	19.9	%
REITs — Warehouse/Industrials	15.4
REITs — Apartments	12.9
Real Estate Management & Development	10.0
REITs — Storage	8.3
REITs — Shopping Centers	8.2
REITs — Health Care	4.9
REITs — Office Property	4.5
REITs — Manufactured Homes	3.5
REITs — Hotels	2.3
Other Investments, less than 2% each	2.3
Short-Term Investments	1.9

Total Investments	94.1
Other assets less liabilities	5.9

Net Assets	100.0	%

Currency Exposure Summary at July 31, 2022 (Unaudited)


United States Dollar	60.8	%
Japanese Yen	8.8
Euro	5.6
British Pound	4.6
Hong Kong Dollar	4.2
Australian Dollar	3.0
Canadian Dollar	3.0
Singapore Dollar	2.8
Swedish Krona	1.3

Total Investments	94.1
Other assets less liabilities	5.9

Net Assets	100.0	%

See accompanying notes to financial statements.

9 |

Statements of Assets and Liabilities

July 31, 2022 (Unaudited)


ASSETS
Investments at cost	$	109,913,574
Net unrealized depreciation		(2,859,693	)

Investments at value		107,053,881
Foreign currency at value (identified cost $11,754)		11,764
Receivable for Fund shares sold		6,530,798
Receivable for securities sold		1,375,811
Dividends and interest receivable		151,713
Tax reclaims receivable		21,513
Prepaid expenses (Note 7)		19

TOTAL ASSETS		115,145,499

LIABILITIES
Payable for securities purchased		961,855
Payable for Fund shares redeemed		161,104
Management fees payable (Note 5)		55,399
Deferred Trustees’ fees (Note 5)		147,727
Administrative fees payable (Note 5)		3,950
Payable to distributor (Note 5d)		1,665
Audit and tax services fees payable		39,071
Other accounts payable and accrued expenses		39,951

TOTAL LIABILITIES		1,410,722

NET ASSETS	$	113,734,777

NET ASSETS CONSIST OF:
Paid-in capital	$	115,203,890
Accumulated loss		(1,469,113	)

NET ASSETS	$	113,734,777

COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class A shares:
Net assets	$	20,373,793

Shares of beneficial interest		1,587,961

Net asset value and redemption price per share	$	12.83

Offering price per share (100/94.25 of net asset value) (Note 1)	$	13.61

Class C shares: (redemption price per share is equal to net asset value less any applicable contingent deferred sales charge) (Note 1)
Net assets	$	328,028

Shares of beneficial interest		25,406

Net asset value and offering price per share	$	12.91

Class N shares:
Net assets	$	3,227,528

Shares of beneficial interest		278,902

Net asset value, offering and redemption price per share	$	11.57

Class Y shares:
Net assets	$	89,805,428

Shares of beneficial interest		7,781,867

Net asset value, offering and redemption price per share	$	11.54

See accompanying notes to financial statements.

| 10

Statement of Operations

For the Six Months Ended July 31, 2022 (Unaudited)


INVESTMENT INCOME
Dividends	$	1,744,642
Interest		1,626
Less net foreign taxes withheld		(70,850	)

		1,675,418

Expenses
Management fees (Note 5)		448,233
Service and distribution fees (Note 5)		29,468
Administrative fees (Note 5)		26,677
Trustees’ fees and expenses (Note 5)		8,304
Trustees’ fees deferred compensation (Note 5)		(34,225	)
Transfer agent fees and expenses (Notes 5 and 6)		62,496
Audit and tax services fees		29,105
Custodian fees and expenses		23,622
Legal fees (Note 7)		1,747
Registration fees		29,972
Shareholder reporting expenses		33,509
Miscellaneous expenses		18,142

Total expenses		677,050
Less waiver and/or expense reimbursement (Note 5)		(110,414	)

Net expenses		566,636

Net investment income		1,108,782

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS
Net realized gain (loss) on:
Investments		2,349,182
Foreign currency transactions (Note 2c)		(22,670	)
Capital gain distributions received (Note 2)		161,113
Net change in unrealized appreciation (depreciation) on:
Investments		(15,552,658	)
Foreign currency translations (Note 2c)		(235	)

Net realized and unrealized loss on investments and foreign currency transactions		(13,065,268	)

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	(11,956,486	)

See accompanying notes to financial statements.

11 |

Statements of Changes in Net Assets


	Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022
FROM OPERATIONS:
Net investment income	$	1,108,782		$	2,043,964
Net realized gain on investments and foreign currency transactions		2,487,625			11,796,920
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations		(15,552,893	)		6,831,673

Net increase (decrease) in net assets resulting from operations		(11,956,486	)		20,672,557

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class A		(328,737	)		(1,335,050	)
Class C		(4,005	)		(22,468	)
Class N		(69,398	)		(219,020	)
Class Y		(1,755,922	)		(6,003,624	)

Total distributions		(2,158,062	)		(7,580,162	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 10)		(14,650,329	)		53,972,152

Net increase (decrease) in net assets		(28,764,877	)		67,064,547
NET ASSETS
Beginning of the period		142,499,654			75,435,107

End of the period	$	113,734,777		$	142,499,654

See accompanying notes to financial statements.

| 12

Financial Highlights

For a share outstanding throughout each period.


	Class A
	Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018
Net asset value, beginning of the period	$	14.58		$	12.48		$	14.23		$	14.62		$	14.49		$	15.84

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.11			0.22	(b)		0.17			0.22			0.25			0.24
Net realized and unrealized gain (loss)		(1.66	)		2.68			(1.52	)		1.61			1.07			(0.14	)

Total from Investment Operations		(1.55	)		2.90			(1.35	)		1.83			1.32			0.10

LESS DISTRIBUTIONS FROM:
Net investment income		(0.08	)		(0.47	)		(0.22	)		(0.39	)		(0.23	)		(0.22	)
Net realized capital gains		(0.12	)		(0.33	)		(0.18	)		(1.83	)		(0.96	)		(1.23	)

Total Distributions		(0.20	)		(0.80	)		(0.40	)		(2.22	)		(1.19	)		(1.45	)

Net asset value, end of the period	$	12.83		$	14.58		$	12.48		$	14.23		$	14.62		$	14.49

Total return(c)(d)		(10.72	)%(e)		23.39	%(b)		(8.94	)%		13.18	%		9.95	%		0.49	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	20,374		$	24,653		$	22,619		$	33,864		$	38,826		$	41,189
Net expenses(f)		1.15	%(g)		1.15	%		1.15	%		1.18	%(h)		1.25	%		1.29	%(i)
Gross expenses		1.34	%(g)		1.42	%		1.55	%		1.50	%		1.45	%		1.43	%
Net investment income		1.67	%(g)		1.51	%(b)		1.43	%		1.46	%		1.75	%		1.49	%
Portfolio turnover rate		41	%		84	%		119	%		107	%(j)		20	%		11	%

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

(b)	Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.17, total return would have been 22.99% and the ratio of net investment income to average net assets would have been 1.14%.

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

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

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

(f)	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.

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

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

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

(j)	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, 2022 (Unaudited)			Year Ended January 31, 2022			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018
Net asset value, beginning of the period	$	14.69		$	12.56		$	14.32		$	14.70		$	14.54		$	15.87

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.06			0.12	(b)		0.08			0.11			0.14			0.11
Net realized and unrealized gain (loss)		(1.68	)		2.69			(1.53	)		1.61			1.06			(0.12	)

Total from Investment Operations		(1.62	)		2.81			(1.45	)		1.72			1.20			(0.01	)

LESS DISTRIBUTIONS FROM:
Net investment income		(0.04	)		(0.35	)		(0.13	)		(0.27	)		(0.08	)		(0.09	)
Net realized capital gains		(0.12	)		(0.33	)		(0.18	)		(1.83	)		(0.96	)		(1.23	)

Total Distributions		(0.16	)		(0.68	)		(0.31	)		(2.10	)		(1.04	)		(1.32	)

Net asset value, end of the period	$	12.91		$	14.69		$	12.56		$	14.32		$	14.70		$	14.54

Total return(c)(d)		(11.11	)%(e)		22.48	%(b)		(9.68	)%		12.35	%		9.03	%		(0.21	)%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	328		$	397		$	643		$	1,391		$	1,946		$	4,472
Net expenses(f)		1.90	%(g)		1.90	%		1.90	%		1.93	%(h)		2.00	%		2.05	%(i)
Gross expenses		2.09	%(g)		2.18	%		2.30	%		2.25	%		2.20	%		2.18	%
Net investment income		0.91	%(g)		0.84	%(b)		0.67	%		0.71	%		0.98	%		0.71	%
Portfolio turnover rate		41	%		84	%		119	%		107	%(j)		20	%		11	%

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

(b)	Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.07, total return would have been 21.99% and the ratio of net investment income to average net assets would have been 0.51%.

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

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

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

(f)	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.

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

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

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

(j)	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, 2022 (Unaudited)			Year Ended January 31, 2022			Year Ended January 31, 2021			Year Ended January 31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018
Net asset value, beginning of the period	$	13.18		$	11.35		$	13.00		$	13.54		$	13.52		$	14.87

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.12			0.24	(b)		0.17			0.24			0.27			0.26
Net realized and unrealized gain (loss)		(1.51	)		2.43			(1.38	)		1.48			0.98			(0.11	)

Total from Investment Operations		(1.39	)		2.67			(1.21	)		1.72			1.25			0.15

LESS DISTRIBUTIONS FROM:
Net investment income		(0.10	)		(0.51	)		(0.26	)		(0.43	)		(0.27	)		(0.27	)
Net realized capital gains		(0.12	)		(0.33	)		(0.18	)		(1.83	)		(0.96	)		(1.23	)

Total Distributions		(0.22	)		(0.84	)		(0.44	)		(2.26	)		(1.23	)		(1.50	)

Net asset value, end of the period	$	11.57		$	13.18		$	11.35		$	13.00		$	13.54		$	13.52

Total return(c)		(10.65	)%(d)		23.76	%(b)		(8.67	)%		13.49	%		10.22	%		0.88	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	3,228		$	3,654		$	2,810		$	10,319		$	6,830		$	6,865
Net expenses(e)		0.85	%(f)		0.85	%		0.85	%		0.88	%(g)		0.95	%		0.97	%(h)
Gross expenses		1.03	%(f)		1.10	%		1.17	%		1.09	%		1.00	%		1.01	%
Net investment income		2.01	%(f)		1.80	%(b)		1.55	%		1.69	%		2.07	%		1.79	%
Portfolio turnover rate		41	%		84	%		119	%		107	%(i)		20	%		11	%

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

(b)	Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.19, total return would have been 23.30% and the ratio of net investment income to average net assets would have been 1.43%.

(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 0.95% to 0.85%.

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

(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.

15 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Class Y
	Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Year Ended January 31, 2021			Year Ended January��31, 2020			Year Ended January 31, 2019			Year Ended January 31, 2018
Net asset value, beginning of the period	$	13.14		$	11.32		$	12.96		$	13.50		$	13.48		$	14.84

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.11			0.23	(b)		0.18			0.24			0.27			0.25
Net realized and unrealized gain (loss)		(1.50	)		2.42			(1.38	)		1.47			0.98			(0.12	)

Total from Investment Operations		(1.39	)		2.65			(1.20	)		1.71			1.25			0.13

LESS DISTRIBUTIONS FROM:
Net investment income		(0.09	)		(0.50	)		(0.26	)		(0.42	)		(0.27	)		(0.26	)
Net realized capital gains		(0.12	)		(0.33	)		(0.18	)		(1.83	)		(0.96	)		(1.23	)

Total Distributions		(0.21	)		(0.83	)		(0.44	)		(2.25	)		(1.23	)		(1.49	)

Net asset value, end of the period	$	11.54		$	13.14		$	11.32		$	12.96		$	13.50		$	13.48

Total return(c)		(10.63	)%(d)		23.67	%(b)		(8.68	)%		13.48	%		10.19	%		0.73	%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	89,805		$	113,795		$	49,363		$	83,933		$	73,173		$	88,954
Net expenses(e)		0.90	%(f)		0.90	%		0.90	%		0.93	%(g)		1.00	%		1.04	%(h)
Gross expenses		1.08	%(f)		1.16	%		1.30	%		1.25	%		1.20	%		1.18	%
Net investment income		1.90	%(f)		1.70	%(b)		1.69	%		1.72	%		2.00	%		1.71	%
Portfolio turnover rate		41	%		84	%		119	%		107	%(i)		20	%		11	%

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

(b)	Includes a non-recurring dividend. Without this dividend, net investment income per share would have been $0.17, total return would have been 23.22% and the ratio of net investment income to average net assets would have been 1.27%.

(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 1.00% to 0.90%.

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

(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.

| 16

Notes to Financial Statements

July 31, 2022 (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, 2022 (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, 2022, securities held by the Fund were fair valued as follows:


Equity securities¹	Percentage of Net Assets
$ 34,560,821		30.4	%

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, 2022 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, 2022 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

| 18

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

increasing or decreasing for the Fund. 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.

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 foreign currency gains and losses, passive foreign investment company adjustments and capital gain 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, 2022 was as follows:


2022 Distributions
Ordinary Income	Long-Term Capital Gains		Total
$4,250,728	$	3,329,434	$	7,580,162

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 July 31, 2022, the tax cost of investments and unrealized appreciation (depreciation) on a federal tax basis were as follows:


Federal tax cost	$	109,913,574

Gross tax appreciation	$	3,713,321
Gross tax depreciation		(6,573,014	)

Net tax depreciation	$	(2,859,693	)

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

19 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

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, 2022, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement. 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, 2022, 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, 2022 (Unaudited)

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

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks
Australia	$	—	$	3,474,386	$	—	$	3,474,386
Belgium		—		574,286		—		574,286
Canada		3,401,133		—		—		3,401,133
France		—		1,340,193		—		1,340,193
Germany		—		2,930,478		—		2,930,478
Hong Kong		—		4,828,093		—		4,828,093
Japan		—		9,974,965		—		9,974,965
Netherlands		—		336,563		—		336,563
Singapore		—		3,223,814		—		3,223,814
Spain		—		1,086,331		—		1,086,331
Sweden		—		1,511,614		—		1,511,614
United Kingdom		—		5,280,098		—		5,280,098
United States		66,967,522		—		—		66,967,522

Total Common Stocks	$	70,368,655	$	34,560,821	$	—	$	104,929,476

Short-Term Investments		—		2,124,405		—		2,124,405

Total	$	70,368,655	$	36,685,226	$	—	$	107,053,881

4. Purchases and Sales of Securities. For the six months ended July 31, 2022, purchases and sales of securities (excluding short-term investments) were $49,353,548 and $69,811,560, 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, 2023, 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, 2022, 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, 2022 (Unaudited)

For the six months ended July 31, 2022, 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
$448,233	$109,430	$338,803	0.75%	0.57%

¹	Management fee waiver is subject to possible recovery until January 31, 2024.

No expenses were recovered during the six months ended July 31, 2022 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, 2022, the service and distribution fees for the Fund were as follows:


Service Fees		Distribution Fees
Class A	Class C	Class C
$27,748	$430	$1,290

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, 2022, the administrative fees were as follows:

Administrative Fees

$26,677

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.

| 22

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

For the six months ended July 31, 2022, the sub-transfer agent fees (which are reflected in transfer agent fees and expenses in the Statement of Operations) for the Fund were $44,461.

As of July 31, 2022, the Fund owes Natixis Distribution $1,665 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, 2022 amounted to $651.

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 $210,000. 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.

For the six months ended July 31, 2022, net depreciation in the value of participants’ deferral accounts (reflected on the Statement of Operations as a reduction to expenses) for the Fund was $(34,225).

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, 2023 and is not subject to recovery under the expense limitation agreement described above.

For the six months ended July 31, 2022, Natixis Advisors reimbursed the Fund $984 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, 2022, 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	$	11,873	$	185	$	984	$	49,454

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

23 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

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 certain 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 on the Statement of Operations. The unamortized balance is reflected as prepaid expenses on the Statement of Assets and Liabilities.

For the six months ended July 31, 2022, the Fund had an average daily balance on the line of credit (for those days on which there were borrowings) of $1,300,000 at a weighted average interest rate of 1.43%. Interest expense incurred on the line of credit was $207.

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.

Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region and around the world are impossible to predict, but could be significant and have a severe adverse effect on the region and around the world, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

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, 2022, 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
3		49.15%

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, 2022 (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, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class A
Issued from the sale of shares		121,570		$	1,690,151			201,040		$	2,900,542
Issued in connection with the reinvestment of distributions		23,009			314,977			89,247			1,277,940
Redeemed		(247,696	)		(3,298,211	)		(411,729	)		(5,895,101	)

Net change		(103,117	)	$	(1,293,083	)		(121,442	)	$	(1,716,619	)

Class C
Issued from the sale of shares		783		$	10,395			1,835		$	26,991
Issued in connection with the reinvestment of distributions		284			3,961			1,570			22,243
Redeemed		(2,713	)		(38,157	)		(27,559	)		(399,944	)

Net change		(1,646	)	$	(23,801	)		(24,154	)	$	(350,710	)

Class N
Issued from the sale of shares		78,291		$	995,632			81,546		$	1,077,242
Issued in connection with the reinvestment of distributions		5,445			66,736			15,973			207,673
Redeemed		(82,147	)		(927,793	)		(67,806	)		(891,647	)

Net change		1,589		$	134,575			29,713		$	393,268

Class Y
Issued from the sale of shares		2,207,661		$	25,709,846			6,183,128		$	80,694,456
Issued in connection with the reinvestment of distributions		137,365			1,696,981			442,616			5,801,104
Redeemed		(3,221,949	)		(40,874,847	)		(2,328,201	)		(30,849,347	)

Net change		(876,923	)	$	(13,468,020	)		4,297,543		$	55,646,213

Increase (decrease) from capital share transactions		(980,097	)	$	(14,650,329	)		4,181,660		$	53,972,152

25 |

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Semiannual Report

July 31, 2022

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^®

Natixis Sustainable Future 2065 Fund^®

Table of Contents


Portfolio Review			1
Portfolio of Investments			14
Financial Statements			91
Notes to Financial Statements			110

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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 2065 Fund Class N NSFOX

*	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.

**	Affiliated 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, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-7.36	%		-9.69	%		5.48	%		6.07	%		3.35	%		0.50	%

Comparative Performance
S&P Target Date 2015^® Index¹		-6.10			-7.26			4.63			5.01

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 5.

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NATIXIS SUSTAINABLE FUTURE 2020 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-7.80	%		-10.25	%		6.12	%		6.79	%		3.92	%		0.50	%

Comparative Performance
S&P Target Date 2020^® Index¹		-6.44			-7.56			4.83			5.28

NATIXIS SUSTAINABLE FUTURE 2025 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-8.56	%		-10.99	%		6.19	%		6.97	%		2.02	%		0.51	%

Comparative Performance
S&P Target Date 2025^® Index¹		-6.83			-7.86			5.53			6.03

NATIXIS SUSTAINABLE FUTURE 2030 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-8.86	%		-11.25	%		6.94	%		7.83	%		1.69	%		0.52	%

Comparative Performance
S&P Target Date 2030^® Index¹		-7.23			-8.15			6.15			6.69

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 5.

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NATIXIS SUSTAINABLE FUTURE FUNDS^®

NATIXIS SUSTAINABLE FUTURE 2035 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-9.33	%		-11.63	%		7.54	%		8.54	%		1.87	%		0.53	%

Comparative Performance
S&P Target Date 2035^® Index¹		-7.72			-8.44			6.79			7.38

NATIXIS SUSTAINABLE FUTURE 2040 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-9.86	%		-12.13	%		7.87	%		8.94	%		2.25	%		0.54	%

Comparative Performance
S&P Target Date 2040^® Index¹		-8.04			-8.63			7.24			7.85

NATIXIS SUSTAINABLE FUTURE 2045 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-10.14	%		-12.61	%		8.18	%		9.31	%		2.19	%		0.54	%

Comparative Performance
S&P Target Date 2045^® Index¹		-8.27			-8.76			7.48			8.10

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 5.

3 |

NATIXIS SUSTAINABLE FUTURE 2050 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-10.53	%		-13.14	%		8.21	%		9.36	%		2.38	%		0.55	%

Comparative Performance
S&P Target Date 2050^® Index¹		-8.37			-8.83			7.61			8.26

NATIXIS SUSTAINABLE FUTURE 2055 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-10.68	%		-13.31	%		8.07	%		9.23	%		2.95	%		0.55	%

Comparative Performance
S&P Target Date 2055^® Index¹		-8.42			-8.86			7.66			8.33

NATIXIS SUSTAINABLE FUTURE 2060 FUND

Average Annual Total Returns — July 31, 2022²



													Expense Ratios³

	6 Months			1 Year			5 Year			Life of Fund			Gross			Net

Class N (Inception 2/28/17)
NAV		-10.53	%		-13.15	%		8.39	%		9.53	%		3.53	%		0.55	%

Comparative Performance
S&P Target Date 2060^® Index¹		-8.42			-8.90			7.73			8.42

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 5.

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NATIXIS SUSTAINABLE FUTURE FUNDS^®

NATIXIS SUSTAINABLE FUTURE 2065 FUND

Total Returns — July 31, 2022²



							Expense Ratios³

	6 Months			Life of Fund			Gross			Net

Class N (Inception 12/15/2021)
NAV		-10.47	%		-13.74	%		2.71	%		0.55	%

Comparative Performance
S&P Target Date 2065+^® Index¹		-8.38			-11.17

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 5/31/23. 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 |

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 from 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 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$926.40		$1.29
Hypothetical (5% return before expenses)		$1,000.00		$1,023.46		$1.35

Expenses are equal to the Fund’s annualized expense ratio (after waiver/reimbursement) of 0.27%, 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 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$922.00		$1.33
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 2025 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$914.40		$1.42
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.

7 |


NATIXIS SUSTAINABLE FUTURE 2030 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$911.40		$1.37
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 2035 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$906.70		$1.42
Hypothetical (5% return before expenses)		$1,000.00		$1,023.31		$1.51


NATIXIS SUSTAINABLE FUTURE 2040 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$901.40		$1.46
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 2045 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$898.60		$1.41
Hypothetical (5% return before expenses)		$1,000.00		$1,023.31		$1.51


NATIXIS SUSTAINABLE FUTURE 2050 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$894.70		$1.46
Hypothetical (5% return before expenses)		$1,000.00		$1,023.26		$1.56

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NATIXIS SUSTAINABLE FUTURE 2055 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$893.20		$1.41
Hypothetical (5% return before expenses)		$1,000.00		$1,023.31		$1.51


NATIXIS SUSTAINABLE FUTURE 2060 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$894.70		$1.41
Hypothetical (5% return before expenses)		$1,000.00		$1,023.31		$1.51


NATIXIS SUSTAINABLE FUTURE 2065 FUND	BEGINNING ACCOUNT VALUE 2/1/2022		ENDING ACCOUNT VALUE 7/31/2022		EXPENSES PAID DURING PERIOD* 2/1/2022 – 7/31/2022
Class N
Actual		$1,000.00		$895.30		$1.50
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.

9 |

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. The Natixis Sustainable Future 2065 Fund was not included in the most recent annual review as the Fund’s initial board-approved investment advisory agreement is effective until December 15, 2023.

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 Advisers 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 2022. 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 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”), including with respect to the oversight of each Fund’s “glidepath” and the oversight of its sustainability criteria. 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, such as new rules relating to the fair valuation of investments and the use of derivatives.

| 10

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 each of the Funds except for the Natixis Sustainable Future 2065 Fund (the “Existing 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 Trustees noted that the Natixis Sustainable Future 2065 Fund did not yet have one year of performance.

The Board noted that, through December 31, 2021, each Existing 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		40	%		9	%
Natixis Sustainable Future 2020 Fund		9	%		6	%
Natixis Sustainable Future 2025 Fund		32	%		21	%
Natixis Sustainable Future 2030 Fund		30	%		20	%
Natixis Sustainable Future 2035 Fund		20	%		27	%
Natixis Sustainable Future 2040 Fund		57	%		36	%
Natixis Sustainable Future 2045 Fund		55	%		28	%
Natixis Sustainable Future 2050 Fund		55	%		40	%
Natixis Sustainable Future 2055 Fund		61	%		48	%
Natixis Sustainable Future 2060 Fund		44	%		28	%

In the case of each Fund that had performance that lagged that of a relevant category median as determined by the independent third-party, the Board concluded that other factors relevant to performance supported renewal of the Agreements. These factors included one or more of the following: (1) that the underperformance was attributable, to a significant extent, to investment decisions (such as security selection or sector allocation) by the Advisers and the sub-advisers of the Fund’s underlying segments that were reasonable and consistent with the investment objective and policies of the Fund and the Fund’s underlying segments, respectively; (2) that the Fund is relatively new and therefore has a limited performance history; and (3) that the Fund’s longer-term (three-year) performance has been stronger relative to its category. The Board also considered information about the Funds’ more recent performance, including how that performance had been impacted by the Covid-19 crisis.

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 also noted that management had proposed to reduce the expense limitation for all Funds on all share classes, effective June 1, 2022

11 |

The Trustees noted that each of 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, and Natixis Sustainable Future 2060 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 also considered that management had proposed to reduce the expense limitations of each of these Funds, and that these Funds’ advisory fees were only between one and seven basis points higher than the respective median of a peer group of funds.

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 and that management has proposed to reduce the expense limitation for all Funds on all share classes, effective June 1, 2022. 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 and the ability to offer target date funds with a sustainable investment theme. 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, 2023.

| 12

LIQUIDITY RISK MANAGEMENT PROGRAM

Annual Report for the Period Commencing on January 1, 2021 and ending December 31, 2021 (including updates through July 31, 2022)

Effective December 1, 2018 (December 15, 2021 for Natixis Sustainable Future 2065 Fund), 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, each of the Funds’ portfolio 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.

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, 2021 to December 31, 2021, 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, 2022 through July 31, 2022, 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.

13 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund


Shares		Description	Value (†)
	Common Stocks — 27.0% of Net Assets
		Aerospace & Defense — 0.5%
	38	AAR Corp.(a)	$	1,692
	9	Axon Enterprise, Inc.(a)		992
	78	Boeing Co. (The)(a)		12,426
	1	L3Harris Technologies, Inc.		240
	2	Lockheed Martin Corp.		827
	14	Moog, Inc., Class A		1,199
	2	Northrop Grumman Corp.		958
	24	Raytheon Technologies Corp.		2,237

				20,571

		Air Freight & Logistics — 0.1%
	39	Expeditors International of Washington, Inc.		4,144
	2	FedEx Corp.		466
	16	GXO Logistics, Inc.(a)		768
	4	United Parcel Service, Inc., Class B		780

				6,158

		Airlines — 0.1%
	41	Delta Air Lines, Inc.(a)		1,304
	122	JetBlue Airways Corp.(a)		1,027

				2,331

		Auto Components — 0.2%
	120	BorgWarner, Inc.		4,615
	82	Dana, Inc.		1,375
	14	Dorman Products, Inc.(a)		1,415
	10	Visteon Corp.(a)		1,276

				8,681

		Automobiles — 0.6%
	192	General Motors Co.(a)		6,962
	21	Tesla, Inc.(a)		18,720
	11	Thor Industries, Inc.		928

				26,610

		Banks — 1.2%
	59	Ameris Bancorp		2,790
	144	Bank of America Corp.		4,869
	57	Cadence Bank		1,488
	157	Citigroup, Inc.		8,148
	35	Citizens Financial Group, Inc.		1,329
	12	Fifth Third Bancorp		409
	273	FNB Corp.		3,265
	189	Fulton Financial Corp.		3,154
	39	Huntington Bancshares, Inc.		518
	50	International Bancshares Corp.		2,193
	11	JPMorgan Chase & Co.		1,269
	64	KeyCorp		1,171
	4	M&T Bank Corp.		710
	7	PNC Financial Services Group, Inc. (The)		1,162
	55	Regions Financial Corp.		1,165
	2	Signature Bank		371
	1	SVB Financial Group(a)		403
	58	Truist Financial Corp.		2,927
	78	Trustmark Corp.		2,533
	29	U.S. Bancorp		1,369
	48	Webster Financial Corp.		2,230
	137	Wells Fargo & Co.		6,010
	20	Wintrust Financial Corp.		1,721

				51,204

		Beverages — 0.6%
	10	Boston Beer Co., Inc. (The), Class A(a)		3,804
	51	Coca-Cola Co. (The)		3,273
		Beverages — continued
	10	Keurig Dr Pepper, Inc.		387
	142	Monster Beverage Corp.(a)		14,146
	12	PepsiCo, Inc.		2,100

				23,710

		Biotechnology — 0.9%
	21	AbbVie, Inc.		3,014
	47	Alnylam Pharmaceuticals, Inc.(a)		6,676
	10	Amgen, Inc.		2,475
	29	Arrowhead Pharmaceuticals, Inc.(a)		1,233
	6	Biogen, Inc.(a)		1,290
	41	BioMarin Pharmaceutical, Inc.(a)		3,528
	57	CRISPR Therapeutics AG(a)		4,275
	5	Gilead Sciences, Inc.		299
	32	Halozyme Therapeutics, Inc.(a)		1,565
	7	Moderna, Inc.(a)		1,148
	15	Neurocrine Biosciences, Inc.(a)		1,412
	17	Regeneron Pharmaceuticals, Inc.(a)		9,889

				36,804

		Building Products — 0.3%
	24	Builders FirstSource, Inc.(a)		1,632
	8	Carlisle Cos., Inc.		2,369
	15	Carrier Global Corp.		608
	9	Johnson Controls International PLC		485
	8	Lennox International, Inc.		1,916
	60	Masco Corp.		3,323
	24	Owens Corning		2,226
	18	Trex Co., Inc.(a)		1,161

				13,720

		Capital Markets — 1.6%
	3	Ameriprise Financial, Inc.		810
	119	Bank of New York Mellon Corp. (The)		5,172
	2	BlackRock, Inc.		1,338
	119	Charles Schwab Corp. (The)		8,217
	4	CME Group, Inc.		798
	12	FactSet Research Systems, Inc.		5,156
	18	Goldman Sachs Group, Inc. (The)		6,001
	50	Intercontinental Exchange, Inc.		5,100
	40	Janus Henderson Group PLC		1,031
	142	KKR & Co., Inc.		7,875
	18	Moody’s Corp.		5,585
	19	Morgan Stanley		1,602
	10	MSCI, Inc.		4,813
	5	Northern Trust Corp.		499
	11	S&P Global, Inc.		4,146
	79	SEI Investments Co.		4,373
	91	State Street Corp.		6,465
	7	Virtus Investment Partners, Inc.		1,444

				70,425

		Chemicals — 0.2%
	3	Air Products & Chemicals, Inc.		745
	9	DuPont de Nemours, Inc.		551
	24	HB Fuller Co.		1,541
	15	Innospec, Inc.		1,530
	5	Linde PLC		1,510
	18	Minerals Technologies, Inc.		1,202
	10	Stepan Co.		1,122

				8,201

		Commercial Services & Supplies — 0.2%
	12	MSA Safety, Inc.		1,540
	14	Tetra Tech, Inc.		2,146

See accompanying notes to financial statements.

| 14

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	23	Viad Corp.(a)	$	777
	19	Waste Management, Inc.		3,126

				7,589

		Communications Equipment — 0.1%
	27	Ciena Corp.(a)		1,393
	15	Lumentum Holdings, Inc.(a)		1,357

				2,750

		Construction & Engineering — 0.1%
	45	AECOM		3,240

		Consumer Finance — 0.5%
	244	Ally Financial, Inc.		8,069
	30	American Express Co.		4,621
	51	Capital One Financial Corp.		5,601
	33	Green Dot Corp., Class A(a)		927

				19,218

		Containers & Packaging — 0.1%
	6	Ball Corp.		440
	16	International Paper Co.		684
	36	Sonoco Products Co.		2,286

				3,410

		Distributors — 0.0%
	10	Genuine Parts Co.		1,529

		Diversified Consumer Services — 0.1%
	19	Grand Canyon Education, Inc.(a)		1,825
	29	Service Corp. International		2,160

				3,985

		Diversified Telecommunication Services — 0.0%
	32	AT&T, Inc.		601
	36	Lumen Technologies, Inc.		392
	19	Verizon Communications, Inc.		878

				1,871

		Electric Utilities — 0.3%
	28	American Electric Power Co., Inc.		2,760
	35	Edison International		2,372
	34	Eversource Energy		2,999
	15	IDACORP, Inc.		1,676
	26	NextEra Energy, Inc.		2,197

				12,004

		Electrical Equipment — 0.6%
	5	Acuity Brands, Inc.		912
	128	ChargePoint Holdings, Inc.(a)		1,934
	7	Eaton Corp. PLC		1,039
	8	Emerson Electric Co.		721
	261	Fluence Energy, Inc.(a)		3,586
	10	Hubbell, Inc.		2,190
	170	Plug Power, Inc.(a)		3,628
	12	Rockwell Automation, Inc.		3,063
	135	Shoals Technologies Group, Inc., Class A(a)		3,190
	169	Sunrun, Inc.(a)		5,525

				25,788

		Electronic Equipment, Instruments & Components — 0.2%
	45	Avnet, Inc.		2,154
	30	Cognex Corp.		1,530
	9	Corning, Inc.		331
	5	II-VI, Inc.(a)		263
	26	Itron, Inc.(a)		1,518
	2	Keysight Technologies, Inc.(a)		325
	5	Littelfuse, Inc.		1,394
		Electronic Equipment, Instruments & Components — continued
	13	TE Connectivity Ltd.		1,739

				9,254

		Energy Equipment & Services — 0.1%
	156	Archrock, Inc.		1,317
	18	Baker Hughes Co.		462
	63	ChampionX Corp.		1,316
	24	Schlumberger NV		889

				3,984

		Entertainment — 0.9%
	10	Activision Blizzard, Inc.		799
	22	Electronic Arts, Inc.		2,887
	84	Netflix, Inc.(a)		18,891
	31	Take-Two Interactive Software, Inc.(a)		4,115
	116	Walt Disney Co. (The)(a)		12,308
	38	Warner Bros Discovery, Inc.(a)		570

				39,570

		Food & Staples Retailing — 0.2%
	22	BJ’s Wholesale Club Holdings, Inc.(a)		1,489
	2	Costco Wholesale Corp.		1,083
	32	Kroger Co. (The)		1,486
	41	SpartanNash Co.		1,324
	52	Sprouts Farmers Market, Inc.(a)		1,437
	13	Sysco Corp.		1,104
	16	Walgreens Boots Alliance, Inc.		634
	8	Walmart, Inc.		1,056

				9,613

		Food Products — 0.2%
	19	Campbell Soup Co.		938
	53	Darling Ingredients, Inc.(a)		3,672
	14	General Mills, Inc.		1,047
	29	Hain Celestial Group, Inc. (The)(a)		660
	14	Hormel Foods Corp.		691
	15	Ingredion, Inc.		1,365
	4	J.M. Smucker Co. (The)		529
	7	Kellogg Co.		517
	4	McCormick & Co., Inc.		349

				9,768

		Gas Utilities — 0.1%
	54	New Jersey Resources Corp.		2,494
	19	ONE Gas, Inc.		1,614

				4,108

		Health Care Equipment & Supplies — 0.5%
	28	Abbott Laboratories		3,048
	5	Becton Dickinson & Co.		1,222
	2	Cooper Cos., Inc. (The)		654
	6	DexCom, Inc.(a)		492
	13	Edwards Lifesciences Corp.(a)		1,307
	15	Globus Medical, Inc., Class A(a)		880
	19	Haemonetics Corp.(a)		1,320
	8	Hologic, Inc.(a)		571
	18	Intuitive Surgical, Inc.(a)		4,143
	47	LeMaitre Vascular, Inc.		2,366
	7	Penumbra, Inc.(a)		976
	2	ResMed, Inc.		481
	7	Shockwave Medical, Inc.(a)		1,477
	2	STERIS PLC		451
	2	Stryker Corp.		430
	1	Teleflex, Inc.		240

				20,058

See accompanying notes to financial statements.

15 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 0.7%
	23	Acadia Healthcare Co., Inc.(a)	$	1,907
	5	Amedisys, Inc.(a)		599
	22	Centene Corp.(a)		2,045
	4	Chemed Corp.		1,925
	8	Cigna Corp.		2,203
	12	CVS Health Corp.		1,148
	6	Elevance Health, Inc.		2,863
	13	Encompass Health Corp.		658
	6	Enhabit, Inc.(a)		105
	31	HCA Healthcare, Inc.		6,585
	4	Humana, Inc.		1,928
	4	Quest Diagnostics, Inc.		546
	39	Select Medical Holdings Corp.		1,155
	23	Tenet Healthcare Corp.(a)		1,521
	6	UnitedHealth Group, Inc.		3,254

				28,442

		Health Care Technology — 0.3%
	74	Allscripts Healthcare Solutions, Inc.(a)		1,171
	155	Doximity, Inc., Class A(a)		6,559
	24	Veeva Systems, Inc., Class A(a)		5,366

				13,096

		Hotels, Restaurants & Leisure — 0.8%
	6	Booking Holdings, Inc.(a)		11,614
	9	Expedia Group, Inc.(a)		955
	20	Hilton Worldwide Holdings, Inc.		2,562
	17	Jack in the Box, Inc.		1,175
	5	McDonald’s Corp.		1,317
	72	Starbucks Corp.		6,104
	40	Travel & Leisure Co.		1,724
	85	Yum China Holdings, Inc.		4,140
	26	Yum! Brands, Inc.		3,186

				32,777

		Household Durables — 0.2%
	8	DR Horton, Inc.		624
	45	KB Home		1,469
	19	Meritage Homes Corp.(a)		1,678
	85	PulteGroup, Inc.		3,707
	61	Taylor Morrison Home Corp.(a)		1,751

				9,229

		Household Products — 0.2%
	51	Colgate-Palmolive Co.		4,016
	15	Kimberly-Clark Corp.		1,977
	23	Procter & Gamble Co. (The)		3,195

				9,188

		Independent Power & Renewable Electricity Producers — 0.1%
	22	AES Corp. (The)		489
	28	NextEra Energy Partners LP		2,316
	92	Sunnova Energy International, Inc.(a)		2,394

				5,199

		Industrial Conglomerates — 0.1%
	7	3M Co.		1,003
	45	General Electric Co.		3,326
	8	Honeywell International, Inc.		1,539

				5,868

		Insurance — 0.8%
	14	Aflac, Inc.		802
	8	Allstate Corp. (The)		936
	84	American International Group, Inc.		4,349
	7	Chubb Ltd.		1,320
		Insurance — continued
	29	First American Financial Corp.		1,682
	16	Hanover Insurance Group, Inc. (The)		2,184
	12	Marsh & McLennan Cos., Inc.		1,968
	59	Prudential Financial, Inc.		5,899
	41	Reinsurance Group of America, Inc.		4,747
	30	Selective Insurance Group, Inc.		2,336
	6	Travelers Cos., Inc. (The)		952
	27	Willis Towers Watson PLC		5,587

				32,762

		Interactive Media & Services — 1.2%
	120	Alphabet, Inc., Class A(a)		13,958
	85	Alphabet, Inc., Class C(a)		9,914
	113	Meta Platforms, Inc., Class A(a)		17,978
	276	Pinterest, Inc., Class A(a)		5,377
	57	Twitter, Inc.(a)		2,372

				49,599

		Internet & Direct Marketing Retail — 1.0%
	40	Alibaba Group Holding Ltd., Sponsored ADR(a)		3,575
	208	Amazon.com, Inc.(a)		28,069
	164	eBay, Inc.		7,975
	33	Etsy, Inc.(a)		3,423

				43,042

		IT Services — 1.4%
	3	Accenture PLC, Class A		919
	4	Automatic Data Processing, Inc.		964
	45	Block, Inc.(a)		3,423
	11	Cognizant Technology Solutions Corp., Class A		748
	11	Concentrix Corp.		1,471
	70	Fiserv, Inc.(a)		7,398
	19	Gartner, Inc.(a)		5,044
	39	Global Payments, Inc.		4,771
	10	International Business Machines Corp.		1,308
	20	Mastercard, Inc., Class A		7,076
	4	Paychex, Inc.		513
	54	PayPal Holdings, Inc.(a)		4,673
	10	Perficient, Inc.(a)		1,055
	82	Shopify, Inc., Class A(a)		2,856
	2	VeriSign, Inc.(a)		378
	74	Visa, Inc., Class A		15,696
	7	WEX, Inc.(a)		1,163

				59,456

		Leisure Products — 0.0%
	78	Mattel, Inc.(a)		1,810

		Life Sciences Tools & Services — 0.3%
	8	Agilent Technologies, Inc.		1,073
	7	Danaher Corp.		2,040
	24	Illumina, Inc.(a)		5,200
	2	IQVIA Holdings, Inc.(a)		481
	4	PerkinElmer, Inc.		613
	9	Repligen Corp.(a)		1,920
	3	Thermo Fisher Scientific, Inc.		1,795
	1	Waters Corp.(a)		364

				13,486

		Machinery — 0.6%
	12	AGCO Corp.		1,307
	5	Caterpillar, Inc.		991
	5	Chart Industries, Inc.(a)		975
	9	Cummins, Inc.		1,992
	12	Deere & Co.		4,118
	7	Illinois Tool Works, Inc.		1,454

See accompanying notes to financial statements.

| 16

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	25	ITT, Inc.	$	1,876
	20	Oshkosh Corp.		1,722
	37	PACCAR, Inc.		3,386
	21	Parker-Hannifin Corp.		6,071
	25	Terex Corp.		838
	22	Toro Co. (The)		1,892

				26,622

		Media — 0.5%
	1	Cable One, Inc.		1,377
	20	Charter Communications, Inc., Class A(a)		8,642
	207	Comcast Corp., Class A		7,767
	32	Interpublic Group of Cos., Inc. (The)		956
	27	New York Times Co. (The), Class A		863
	39	News Corp., Class A		668
	27	News Corp., Class B		466
	16	Omnicom Group, Inc.		1,117
	12	Paramount Global, Class B		284

				22,140

		Metals & Mining — 0.2%
	19	Alcoa Corp.		967
	52	Cleveland-Cliffs, Inc.(a)		921
	34	Commercial Metals Co.		1,347
	11	Newmont Corp.		498
	4	Nucor Corp.		543
	10	Reliance Steel & Aluminum Co.		1,902
	27	Steel Dynamics, Inc.		2,103

				8,281

		Multi-Utilities — 0.1%
	18	Consolidated Edison, Inc.		1,787
	8	DTE Energy Co.		1,043
	4	WEC Energy Group, Inc.		415

				3,245

		Multiline Retail — 0.1%
	24	Kohl’s Corp.		700
	59	Macy’s, Inc.		1,041
	11	Target Corp.		1,797

				3,538

		Oil, Gas & Consumable Fuels — 1.0%
	127	Antero Midstream Corp.		1,278
	202	APA Corp.		7,508
	17	Chevron Corp.		2,784
	83	CNX Resources Corp.(a)		1,433
	72	ConocoPhillips		7,015
	21	Diamondback Energy, Inc.		2,689
	82	EOG Resources, Inc.		9,120
	44	EQT Corp.		1,937
	34	Exxon Mobil Corp.		3,296
	25	HF Sinclair Corp.		1,196
	36	Kinder Morgan, Inc.		648
	34	Marathon Oil Corp.		843
	4	Occidental Petroleum Corp.		263
	47	Range Resources Corp.(a)		1,554
	180	Southwestern Energy Co.(a)		1,271
	7	Valero Energy Corp.		775

				43,610

		Paper & Forest Products — 0.0%
	16	Louisiana-Pacific Corp.		1,018

		Pharmaceuticals — 0.9%
	63	Bristol-Myers Squibb Co.		4,648
	6	Eli Lilly & Co.		1,978
		Pharmaceuticals — continued
	10	Jazz Pharmaceuticals PLC(a)		1,561
	20	Johnson & Johnson		3,490
	42	Merck & Co., Inc.		3,752
	88	Novartis AG, Sponsored ADR		7,553
	30	Novo Nordisk A/S, Sponsored ADR		3,482
	24	Perrigo Co. PLC		1,005
	53	Pfizer, Inc.		2,677
	129	Roche Holding AG, Sponsored ADR		5,350
	5	Zoetis, Inc.		913

				36,409

		Professional Services — 0.3%
	23	Equifax, Inc.		4,805
	22	Exponent, Inc.		2,211
	23	Korn Ferry		1,506
	12	ManpowerGroup, Inc.		941
	7	Verisk Analytics, Inc.		1,332

				10,795

		Real Estate Management & Development — 0.2%
	69	CBRE Group, Inc., Class A(a)		5,908
	10	Jones Lang LaSalle, Inc.(a)		1,906

				7,814

		REITs – Apartments — 0.2%
	37	American Campus Communities, Inc.		2,417
	16	AvalonBay Communities, Inc.		3,423
	15	Equity Residential		1,176
	6	Essex Property Trust, Inc.		1,719

				8,735

		REITs – Diversified — 0.2%
	106	American Assets Trust, Inc.		3,204
	7	American Tower Corp.		1,896
	8	Crown Castle International Corp.		1,445
	4	Digital Realty Trust, Inc.		530
	1	Equinix, Inc.		704
	21	VICI Properties, Inc.		718
	34	Weyerhaeuser Co.		1,235

				9,732

		REITs – Health Care — 0.1%
	10	Ventas, Inc.		538
	44	Welltower, Inc.		3,799

				4,337

		REITs – Hotels — 0.0%
	27	Host Hotels & Resorts, Inc.		481

		REITs – Mortgage — 0.0%
	42	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		1,516

		REITs – Office Property — 0.3%
	23	Alexandria Real Estate Equities, Inc.		3,813
	198	Brandywine Realty Trust		1,851
	97	Corporate Office Properties Trust		2,731
	63	Douglas Emmett, Inc.		1,489
	84	Easterly Government Properties, Inc.		1,703
	28	Kilroy Realty Corp.		1,517

				13,104

		REITs – Shopping Centers — 0.1%
	151	Brixmor Property Group, Inc.		3,500

		REITs – Warehouse/Industrials — 0.0%
	14	ProLogis, Inc.		1,856

See accompanying notes to financial statements.

17 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — 0.4%
	4	Avis Budget Group, Inc.(a)	$	728
	49	Canadian Pacific Railway Ltd.		3,865
	47	CSX Corp.		1,519
	19	Norfolk Southern Corp.		4,772
	18	Ryder System, Inc.		1,410
	19	Union Pacific Corp.		4,319

				16,613

		Semiconductors & Semiconductor Equipment — 1.3%
	22	Advanced Micro Devices, Inc.(a)		2,078
	7	Analog Devices, Inc.		1,204
	6	Broadcom, Inc.		3,213
	16	Cirrus Logic, Inc.(a)		1,367
	23	Enphase Energy, Inc.(a)		6,536
	13	First Solar, Inc.(a)		1,289
	38	Intel Corp.		1,380
	37	Lattice Semiconductor Corp.(a)		2,276
	14	Micron Technology, Inc.		866
	119	NVIDIA Corp.		21,614
	46	QUALCOMM, Inc.		6,673
	11	Silicon Laboratories, Inc.(a)		1,622
	7	Synaptics, Inc.(a)		1,015
	7	Texas Instruments, Inc.		1,252
	8	Universal Display Corp.		924
	17	Wolfspeed, Inc.(a)		1,416

				54,725

		Software — 2.1%
	12	Adobe, Inc.(a)		4,921
	3	ANSYS, Inc.(a)		837
	4	Aspen Technology, Inc.(a)		816
	54	Autodesk, Inc.(a)		11,681
	12	Blackbaud, Inc.(a)		736
	4	Citrix Systems, Inc.		406
	24	CommVault Systems, Inc.(a)		1,346
	3	Fair Isaac Corp.(a)		1,386
	17	Fortinet, Inc.(a)		1,014
	56	Microsoft Corp.		15,722
	23	NortonLifeLock, Inc.		564
	238	Oracle Corp.		18,526
	9	Paylocity Holding Corp.(a)		1,853
	11	Qualys, Inc.(a)		1,346
	93	Salesforce, Inc.(a)		17,114
	5	ServiceNow, Inc.(a)		2,233
	14	SPS Commerce, Inc.(a)		1,677
	53	Workday, Inc., Class A(a)		8,220

				90,398

		Specialty Retail — 0.4%
	5	Asbury Automotive Group, Inc.(a)		858
	5	Best Buy Co., Inc.		385
	18	Boot Barn Holdings, Inc.(a)		1,121
	11	Five Below, Inc.(a)		1,398
	16	GameStop Corp., Class A(a)		544
	15	Home Depot, Inc. (The)		4,514
	4	Lithia Motors, Inc.		1,061
	10	Lowe’s Cos., Inc.		1,915
	15	TJX Cos., Inc. (The)		917
	1	Tractor Supply Co.		192
	1	Ulta Beauty, Inc.(a)		389
	11	Williams-Sonoma, Inc.		1,589

				14,883

		Technology Hardware, Storage & Peripherals — 0.0%
	38	Hewlett Packard Enterprise Co.		541
		Technology Hardware, Storage & Peripherals — continued
	23	HP, Inc.		768

				1,309

		Textiles, Apparel & Luxury Goods — 0.2%
	10	Crocs, Inc.(a)		716
	6	Deckers Outdoor Corp.(a)		1,879
	39	NIKE, Inc., Class B		4,482
	337	Under Armour, Inc., Class A(a)		3,121
	9	VF Corp.		402

				10,600

		Thrifts & Mortgage Finance — 0.1%
	238	MGIC Investment Corp.		3,365
	36	Mr. Cooper Group, Inc.(a)		1,622

				4,987

		Trading Companies & Distributors — 0.0%
	10	GATX Corp.		1,003

		Water Utilities — 0.1%
	16	American States Water Co.		1,395
	9	American Water Works Co., Inc.		1,399
	34	Essential Utilities, Inc.		1,766

				4,560

		Wireless Telecommunication Services — 0.0%
	6	T-Mobile US, Inc.(a)		858

		Total Common Stocks (Identified Cost $1,139,502)		1,156,777


Principal Amount
	Bonds and Notes — 20.7%
		Automotive — 0.4%
$	9,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		8,850
	2,000	Lear Corp., 4.250%, 5/15/2029		1,880
	5,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		4,479

				15,209

		Banking — 3.3%
	9,000	American Express Co., 3.700%, 8/03/2023		9,037
	10,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		9,657
	8,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		8,061
	5,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		4,996
	11,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		10,030
	9,000	Citigroup, Inc., 4.600%, 3/09/2026		9,163
	9,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		8,995
	9,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		8,870
	10,000	KeyCorp, MTN, 2.550%, 10/01/2029		8,888
	4,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		3,821
	5,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		5,010
	5,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		4,515
	10,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		9,624
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		3,921
	5,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		4,948
	7,000	State Street Corp., 2.400%, 1/24/2030		6,306
	5,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		4,324
	10,000	Truist Bank, 3.200%, 4/01/2024		9,996

See accompanying notes to financial statements.

| 18

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Principal Amount		Description	Value (†)
		Banking — continued
$	10,000	Westpac Banking Corp., 2.350%, 2/19/2025	$	9,754

				139,916

		Brokerage — 0.4%
	10,000	BlackRock, Inc., 2.400%, 4/30/2030		9,085
	10,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		7,754

				16,839

		Building Materials — 0.3%
	5,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		4,586
	10,000	Owens Corning, 3.950%, 8/15/2029		9,532

				14,118

		Chemicals — 0.0%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		1,945

		Diversified Manufacturing — 0.3%
	10,000	3M Co., 3.050%, 4/15/2030		9,487
	5,000	Emerson Electric Co., 2.000%, 12/21/2028		4,563

				14,050

		Electric — 1.1%
	9,000	Duke Energy Corp., 3.750%, 4/15/2024		9,037
	11,000	Entergy Corp., 0.900%, 9/15/2025		10,017
	5,000	Exelon Corp., 4.050%, 4/15/2030		4,958
	11,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		9,677
	3,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		2,766
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		1,730
	9,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		8,925

				47,110

		Environmental — 0.1%
	6,000	Republic Services, Inc., 1.450%, 2/15/2031		4,954
	2,000	Waste Management, Inc., 2.950%, 6/01/2041		1,629

				6,583

		Finance Companies — 0.3%
	6,000	Ares Capital Corp., 3.250%, 7/15/2025		5,658
	6,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		5,246

				10,904

		Food & Beverage — 0.8%
	11,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		10,253
	9,000	General Mills, Inc., 4.000%, 4/17/2025		9,113
	5,000	Mondelez International, Inc., 2.750%, 4/13/2030		4,560
	10,000	PepsiCo, Inc., 2.750%, 3/19/2030		9,532

				33,458

		Government Owned – No Guarantee — 0.6%
	8,000	Equinor ASA, 3.625%, 4/06/2040		7,340
	13,000	Federal National Mortgage Association, 6.625%, 11/15/2030		16,458

				23,798

		Health Insurance — 0.4%
	9,000	Elevance Health, Inc., 4.101%, 3/01/2028		9,126
	7,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		8,221

				17,347

		Healthcare — 0.6%
	5,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		5,107
	4,000	Cigna Corp., 3.750%, 7/15/2023		4,007
	2,000	CVS Health Corp., 4.300%, 3/25/2028		2,033
	4,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		3,873
		Healthcare — continued
	5,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		4,957
	5,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		4,580

				24,557

		Integrated Energy — 0.4%
	10,000	Exxon Mobil Corp., 2.992%, 3/19/2025		9,961
	7,000	Shell International Finance BV, 6.375%, 12/15/2038		8,427

				18,388

		Life Insurance — 0.0%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,073

		Mortgage Related — 4.9%
	24,169	FHLMC, 2.500%, 2/01/2052		22,559
	11,776	FHLMC, 3.000%, 4/01/2052		11,347
	8,870	FHLMC, 3.500%, 5/01/2052		8,784
	50,015	FNMA, 2.000%, with various maturities in 2051(b)		45,091
	47,228	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		44,140
	47,805	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		46,333
	26,647	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		26,461
	1,976	FNMA, 4.000%, 3/01/2050		1,995
	2,306	FNMA, 4.500%, with various maturities in 2049(b)		2,368

				209,078

		Natural Gas — 0.2%
	11,000	NiSource, Inc., 0.950%, 8/15/2025		10,069

		Pharmaceuticals — 0.5%
	9,000	AbbVie, Inc., 3.600%, 5/14/2025		9,001
	5,000	Biogen, Inc., 2.250%, 5/01/2030		4,272
	5,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		4,952
	3,000	Viatris, Inc., 3.850%, 6/22/2040		2,189

				20,414

		Property & Casualty Insurance — 0.1%
	3,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		2,695

		Railroads — 0.2%
	10,000	CSX Corp., 2.600%, 11/01/2026		9,720

		REITs – Apartments — 0.1%
	5,000	Essex Portfolio LP, 3.000%, 1/15/2030		4,515

		REITs – Health Care — 0.1%
	5,000	Welltower, Inc., 2.800%, 6/01/2031		4,336

		REITs – Office Property — 0.6%
	10,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		9,948
	5,000	Boston Properties LP, 2.750%, 10/01/2026		4,743
	11,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		9,332

				24,023

		REITs – Single Tenant — 0.1%
	3,000	Realty Income Corp., 3.400%, 1/15/2028		2,901
	3,000	Spirit Realty LP, 2.700%, 2/15/2032		2,417

				5,318

		REITs – Warehouse/Industrials — 0.1%
	6,000	Prologis LP, 1.250%, 10/15/2030		4,938

		Restaurants — 0.2%
	10,000	Starbucks Corp., 2.250%, 3/12/2030		8,791

		Retailers — 0.3%
	5,000	Amazon.com, Inc., 3.875%, 8/22/2037		5,035
	11,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		9,673

				14,708

See accompanying notes to financial statements.

19 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2015 Fund – (continued)


Principal Amount		Description	Value (†)
		Technology — 1.1%
$	9,000	Apple, Inc., 2.500%, 2/09/2025	$	8,920
	4,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		3,792
	4,000	Intel Corp., 2.450%, 11/15/2029		3,688
	10,000	International Business Machines Corp., 4.000%, 6/20/2042		9,116
	4,000	NVIDIA Corp., 2.850%, 4/01/2030		3,817
	9,000	Oracle Corp., 2.950%, 5/15/2025		8,774
	10,000	QUALCOMM, Inc., 1.650%, 5/20/2032		8,469

				46,576

		Treasuries — 2.6%
	10,000	U.S. Treasury Bond, 2.250%, 5/15/2041		8,561
	9,000	U.S. Treasury Bond, 2.500%, 5/15/2046		7,801
	18,700	U.S. Treasury Bond, 2.875%, 11/15/2046		17,390
	26,000	U.S. Treasury Bond, 3.000%, 5/15/2045		24,633
	9,100	U.S. Treasury Bond, 3.000%, 2/15/2048		8,754
	9,100	U.S. Treasury Bond, 3.000%, 2/15/2049		8,872
	37,000	U.S. Treasury Note, 0.375%, 11/30/2025		34,153

				110,164

		Utility Other — 0.1%
	4,000	Essential Utilities, Inc., 4.276%, 5/01/2049		3,614

		Wireless — 0.2%
	8,000	Vodafone Group PLC, 6.150%, 2/27/2037		8,904

		Wirelines — 0.3%
	4,000	AT&T, Inc., 3.650%, 6/01/2051		3,259
	8,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		7,983

				11,242

		Total Bonds and Notes (Identified Cost $980,138)		885,400


Shares
	Exchange-Traded Funds — 3.4%
	2,230	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $153,955)		147,648


	Mutual Funds — 4.9%
	4,615	WCM Focused Emerging Markets Fund, Institutional Class		61,199
	7,141	WCM Focused International Growth Fund, Institutional Class		148,684

		Total Mutual Funds (Identified Cost $247,772)		209,883


	Affiliated Mutual Funds — 41.9%
	63,495	Loomis Sayles Inflation Protected Securities Fund, Class N		683,840
	45,931	Loomis Sayles Limited Term Government and Agency Fund, Class N		503,865
	51,523	Mirova Global Green Bond Fund, Class N		462,679
	12,832	Mirova International Sustainable Equity Fund, Class N		143,587

		Total Affiliated Mutual Funds (Identified Cost $1,972,523)		1,793,971


	Short-Term Investments — 3.0%
$	127,527	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $127,534 on 8/01/2022 collateralized by $129,800 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $130,459 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $127,527)		127,527


		Total Investments — 100.9% (Identified Cost $4,621,417)		4,321,206
		Other assets less liabilities — (0.9)%		(37,049	)

		Net Assets — 100.0%	$	4,284,157


	(†)			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, 2022 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, 2022, the value of Rule 144A holdings amounted to $7,613 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
	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, 2022 (Unaudited)


Fixed Income	59.3	%
Equity	38.6
Short-Term Investments	3.0

Total Investments	100.9
Other assets less liabilities	(0.9	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 20

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund


Shares		Description	Value (†)
	Common Stocks — 33.0% of Net Assets
		Aerospace & Defense — 0.6%
	40	AAR Corp.(a)	$	1,781
	8	Axon Enterprise, Inc.(a)		882
	83	Boeing Co. (The)(a)		13,223
	1	L3Harris Technologies, Inc.		240
	3	Lockheed Martin Corp.		1,241
	12	Moog, Inc., Class A		1,028
	2	Northrop Grumman Corp.		958
	25	Raytheon Technologies Corp.		2,330

				21,683

		Air Freight & Logistics — 0.2%
	41	Expeditors International of Washington, Inc.		4,356
	2	FedEx Corp.		466
	16	GXO Logistics, Inc.(a)		768
	5	United Parcel Service, Inc., Class B		975

				6,565

		Airlines — 0.1%
	39	Delta Air Lines, Inc.(a)		1,240
	134	JetBlue Airways Corp.(a)		1,128

				2,368

		Auto Components — 0.3%
	127	BorgWarner, Inc.		4,885
	90	Dana, Inc.		1,508
	15	Dorman Products, Inc.(a)		1,516
	12	Visteon Corp.(a)		1,531

				9,440

		Automobiles — 0.7%
	206	General Motors Co.(a)		7,470
	21	Tesla, Inc.(a)		18,720
	12	Thor Industries, Inc.		1,012

				27,202

		Banks — 1.5%
	61	Ameris Bancorp		2,885
	149	Bank of America Corp.		5,038
	62	Cadence Bank		1,618
	165	Citigroup, Inc.		8,563
	39	Citizens Financial Group, Inc.		1,481
	13	Fifth Third Bancorp		444
	279	FNB Corp.		3,337
	194	Fulton Financial Corp.		3,238
	38	Huntington Bancshares, Inc.		505
	55	International Bancshares Corp.		2,412
	12	JPMorgan Chase & Co.		1,384
	61	KeyCorp		1,116
	4	M&T Bank Corp.		710
	7	PNC Financial Services Group, Inc. (The)		1,162
	61	Regions Financial Corp.		1,292
	2	Signature Bank		371
	1	SVB Financial Group(a)		403
	62	Truist Financial Corp.		3,129
	81	Trustmark Corp.		2,630
	30	U.S. Bancorp		1,416
	49	Webster Financial Corp.		2,276
	145	Wells Fargo & Co.		6,361
	22	Wintrust Financial Corp.		1,893

				53,664

		Beverages — 0.7%
	12	Boston Beer Co., Inc. (The), Class A(a)		4,565
	54	Coca-Cola Co. (The)		3,465
		Beverages — continued
	10	Keurig Dr Pepper, Inc.		387
	147	Monster Beverage Corp.(a)		14,644
	13	PepsiCo, Inc.		2,275

				25,336

		Biotechnology — 1.0%
	23	AbbVie, Inc.		3,301
	46	Alnylam Pharmaceuticals, Inc.(a)		6,534
	10	Amgen, Inc.		2,475
	28	Arrowhead Pharmaceuticals, Inc.(a)		1,191
	7	Biogen, Inc.(a)		1,505
	36	BioMarin Pharmaceutical, Inc.(a)		3,098
	56	CRISPR Therapeutics AG(a)		4,200
	5	Gilead Sciences, Inc.		299
	34	Halozyme Therapeutics, Inc.(a)		1,662
	7	Moderna, Inc.(a)		1,149
	15	Neurocrine Biosciences, Inc.(a)		1,412
	18	Regeneron Pharmaceuticals, Inc.(a)		10,470

				37,296

		Building Products — 0.4%
	24	Builders FirstSource, Inc.(a)		1,632
	8	Carlisle Cos., Inc.		2,369
	18	Carrier Global Corp.		730
	9	Johnson Controls International PLC		485
	8	Lennox International, Inc.		1,916
	63	Masco Corp.		3,489
	26	Owens Corning		2,411
	17	Trex Co., Inc.(a)		1,097

				14,129

		Capital Markets — 2.0%
	3	Ameriprise Financial, Inc.		810
	129	Bank of New York Mellon Corp. (The)		5,606
	2	BlackRock, Inc.		1,338
	126	Charles Schwab Corp. (The)		8,700
	5	CME Group, Inc.		997
	13	FactSet Research Systems, Inc.		5,586
	19	Goldman Sachs Group, Inc. (The)		6,334
	55	Intercontinental Exchange, Inc.		5,609
	44	Janus Henderson Group PLC		1,134
	152	KKR & Co., Inc.		8,430
	18	Moody’s Corp.		5,585
	20	Morgan Stanley		1,686
	11	MSCI, Inc.		5,295
	5	Northern Trust Corp.		499
	11	S&P Global, Inc.		4,146
	77	SEI Investments Co.		4,263
	98	State Street Corp.		6,962
	8	Virtus Investment Partners, Inc.		1,651

				74,631

		Chemicals — 0.2%
	3	Air Products & Chemicals, Inc.		745
	8	DuPont de Nemours, Inc.		490
	23	HB Fuller Co.		1,477
	17	Innospec, Inc.		1,734
	5	Linde PLC		1,510
	20	Minerals Technologies, Inc.		1,336
	11	Stepan Co.		1,234

				8,526

		Commercial Services & Supplies — 0.2%
	12	MSA Safety, Inc.		1,540
	14	Tetra Tech, Inc.		2,146

See accompanying notes to financial statements.

21 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	24	Viad Corp.(a)	$	810
	21	Waste Management, Inc.		3,456

				7,952

		Communications Equipment — 0.1%
	29	Ciena Corp.(a)		1,497
	16	Lumentum Holdings, Inc.(a)		1,447

				2,944

		Construction & Engineering — 0.1%
	45	AECOM		3,240

		Consumer Finance — 0.5%
	258	Ally Financial, Inc.		8,532
	29	American Express Co.		4,467
	55	Capital One Financial Corp.		6,041
	34	Green Dot Corp., Class A(a)		955

				19,995

		Containers & Packaging — 0.1%
	7	Ball Corp.		514
	13	International Paper Co.		556
	38	Sonoco Products Co.		2,413

				3,483

		Distributors — 0.1%
	12	Genuine Parts Co.		1,834

		Diversified Consumer Services — 0.1%
	19	Grand Canyon Education, Inc.(a)		1,825
	30	Service Corp. International		2,234

				4,059

		Diversified Telecommunication Services — 0.1%
	34	AT&T, Inc.		638
	55	Lumen Technologies, Inc.		599
	20	Verizon Communications, Inc.		924

				2,161

		Electric Utilities — 0.3%
	29	American Electric Power Co., Inc.		2,858
	36	Edison International		2,440
	37	Eversource Energy		3,264
	16	IDACORP, Inc.		1,788
	27	NextEra Energy, Inc.		2,281

				12,631

		Electrical Equipment — 0.7%
	5	Acuity Brands, Inc.		912
	127	ChargePoint Holdings, Inc.(a)		1,919
	7	Eaton Corp. PLC		1,039
	8	Emerson Electric Co.		721
	266	Fluence Energy, Inc.(a)		3,655
	10	Hubbell, Inc.		2,190
	175	Plug Power, Inc.(a)		3,734
	12	Rockwell Automation, Inc.		3,063
	141	Shoals Technologies Group, Inc., Class A(a)		3,332
	175	Sunrun, Inc.(a)		5,721

				26,286

		Electronic Equipment, Instruments & Components — 0.3%
	48	Avnet, Inc.		2,298
	31	Cognex Corp.		1,581
	11	Corning, Inc.		404
	5	II-VI, Inc.(a)		263
	27	Itron, Inc.(a)		1,577
	3	Keysight Technologies, Inc.(a)		488
	7	Littelfuse, Inc.		1,952
		Electronic Equipment, Instruments & Components — continued
	14	TE Connectivity Ltd.		1,872

				10,435

		Energy Equipment & Services — 0.1%
	162	Archrock, Inc.		1,367
	21	Baker Hughes Co.		540
	71	ChampionX Corp.		1,483
	22	Schlumberger NV		815

				4,205

		Entertainment — 1.2%
	10	Activision Blizzard, Inc.		800
	24	Electronic Arts, Inc.		3,150
	89	Netflix, Inc.(a)		20,016
	33	Take-Two Interactive Software, Inc.(a)		4,380
	123	Walt Disney Co. (The)(a)		13,050
	142	Warner Bros Discovery, Inc.(a)		2,130

				43,526

		Food & Staples Retailing — 0.3%
	23	BJ’s Wholesale Club Holdings, Inc.(a)		1,557
	2	Costco Wholesale Corp.		1,083
	31	Kroger Co. (The)		1,440
	43	SpartanNash Co.		1,388
	55	Sprouts Farmers Market, Inc.(a)		1,520
	14	Sysco Corp.		1,189
	18	Walgreens Boots Alliance, Inc.		713
	9	Walmart, Inc.		1,188

				10,078

		Food Products — 0.3%
	20	Campbell Soup Co.		987
	55	Darling Ingredients, Inc.(a)		3,810
	15	General Mills, Inc.		1,122
	32	Hain Celestial Group, Inc. (The)(a)		728
	13	Hormel Foods Corp.		641
	16	Ingredion, Inc.		1,456
	4	J.M. Smucker Co. (The)		529
	7	Kellogg Co.		518
	5	McCormick & Co., Inc.		437

				10,228

		Gas Utilities — 0.1%
	51	New Jersey Resources Corp.		2,356
	18	ONE Gas, Inc.		1,529

				3,885

		Health Care Equipment & Supplies — 0.6%
	29	Abbott Laboratories		3,156
	5	Becton Dickinson & Co.		1,222
	2	Cooper Cos., Inc. (The)		654
	7	DexCom, Inc.(a)		575
	16	Edwards Lifesciences Corp.(a)		1,609
	16	Globus Medical, Inc., Class A(a)		939
	19	Haemonetics Corp.(a)		1,320
	7	Hologic, Inc.(a)		500
	17	Intuitive Surgical, Inc.(a)		3,913
	50	LeMaitre Vascular, Inc.		2,518
	9	Penumbra, Inc.(a)		1,254
	2	ResMed, Inc.		481
	8	Shockwave Medical, Inc.(a)		1,687
	2	STERIS PLC		451
	3	Stryker Corp.		644
	1	Teleflex, Inc.		240

				21,163

See accompanying notes to financial statements.

| 22

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 0.8%
	24	Acadia Healthcare Co., Inc.(a)	$	1,990
	5	Amedisys, Inc.(a)		599
	23	Centene Corp.(a)		2,138
	4	Chemed Corp.		1,924
	8	Cigna Corp.		2,203
	11	CVS Health Corp.		1,053
	6	Elevance Health, Inc.		2,863
	15	Encompass Health Corp.		759
	7	Enhabit, Inc.(a)		123
	32	HCA Healthcare, Inc.		6,798
	4	Humana, Inc.		1,928
	4	Quest Diagnostics, Inc.		546
	41	Select Medical Holdings Corp.		1,214
	23	Tenet Healthcare Corp.(a)		1,521
	7	UnitedHealth Group, Inc.		3,796

				29,455

		Health Care Technology — 0.4%
	78	Allscripts Healthcare Solutions, Inc.(a)		1,234
	174	Doximity, Inc., Class A(a)		7,364
	27	Veeva Systems, Inc., Class A(a)		6,036

				14,634

		Hotels, Restaurants & Leisure — 0.9%
	6	Booking Holdings, Inc.(a)		11,614
	10	Expedia Group, Inc.(a)		1,060
	22	Hilton Worldwide Holdings, Inc.		2,818
	19	Jack in the Box, Inc.		1,314
	5	McDonald’s Corp.		1,317
	74	Starbucks Corp.		6,274
	38	Travel & Leisure Co.		1,638
	83	Yum China Holdings, Inc.		4,043
	25	Yum! Brands, Inc.		3,063

				33,141

		Household Durables — 0.3%
	8	DR Horton, Inc.		624
	50	KB Home		1,632
	19	Meritage Homes Corp.(a)		1,678
	90	PulteGroup, Inc.		3,926
	67	Taylor Morrison Home Corp.(a)		1,923

				9,783

		Household Products — 0.3%
	53	Colgate-Palmolive Co.		4,173
	16	Kimberly-Clark Corp.		2,109
	27	Procter & Gamble Co. (The)		3,750

				10,032

		Independent Power & Renewable Electricity Producers — 0.2%
	24	AES Corp. (The)		533
	29	NextEra Energy Partners LP		2,400
	95	Sunnova Energy International, Inc.(a)		2,472

				5,405

		Industrial Conglomerates — 0.2%
	6	3M Co.		859
	47	General Electric Co.		3,474
	7	Honeywell International, Inc.		1,347

				5,680

		Insurance — 0.9%
	16	Aflac, Inc.		917
	7	Allstate Corp. (The)		819
	90	American International Group, Inc.		4,659
	9	Chubb Ltd.		1,698
		Insurance — continued
	28	First American Financial Corp.		1,624
	17	Hanover Insurance Group, Inc. (The)		2,320
	12	Marsh & McLennan Cos., Inc.		1,968
	61	Prudential Financial, Inc.		6,099
	45	Reinsurance Group of America, Inc.		5,210
	29	Selective Insurance Group, Inc.		2,258
	6	Travelers Cos., Inc. (The)		952
	28	Willis Towers Watson PLC		5,794

				34,318

		Interactive Media & Services — 1.4%
	140	Alphabet, Inc., Class A(a)		16,285
	80	Alphabet, Inc., Class C(a)		9,331
	118	Meta Platforms, Inc., Class A(a)		18,774
	293	Pinterest, Inc., Class A(a)		5,707
	59	Twitter, Inc.(a)		2,455

				52,552

		Internet & Direct Marketing Retail — 1.2%
	42	Alibaba Group Holding Ltd., Sponsored ADR(a)		3,753
	219	Amazon.com, Inc.(a)		29,554
	166	eBay, Inc.		8,073
	35	Etsy, Inc.(a)		3,630

				45,010

		IT Services — 1.7%
	3	Accenture PLC, Class A		919
	6	Automatic Data Processing, Inc.		1,447
	50	Block, Inc.(a)		3,803
	10	Cognizant Technology Solutions Corp., Class A		680
	10	Concentrix Corp.		1,338
	74	Fiserv, Inc.(a)		7,820
	20	Gartner, Inc.(a)		5,310
	42	Global Payments, Inc.		5,137
	11	International Business Machines Corp.		1,439
	22	Mastercard, Inc., Class A		7,783
	5	Paychex, Inc.		641
	62	PayPal Holdings, Inc.(a)		5,365
	11	Perficient, Inc.(a)		1,161
	89	Shopify, Inc., Class A(a)		3,100
	3	VeriSign, Inc.(a)		567
	76	Visa, Inc., Class A		16,120
	8	WEX, Inc.(a)		1,330

				63,960

		Leisure Products — 0.1%
	83	Mattel, Inc.(a)		1,926

		Life Sciences Tools & Services — 0.4%
	9	Agilent Technologies, Inc.		1,207
	8	Danaher Corp.		2,332
	26	Illumina, Inc.(a)		5,634
	2	IQVIA Holdings, Inc.(a)		480
	4	PerkinElmer, Inc.		613
	8	Repligen Corp.(a)		1,707
	3	Thermo Fisher Scientific, Inc.		1,795
	1	Waters Corp.(a)		364

				14,132

		Machinery — 0.8%
	15	AGCO Corp.		1,634
	7	Caterpillar, Inc.		1,388
	7	Chart Industries, Inc.(a)		1,365
	9	Cummins, Inc.		1,992
	13	Deere & Co.		4,461
	7	Illinois Tool Works, Inc.		1,454

See accompanying notes to financial statements.

23 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	27	ITT, Inc.	$	2,026
	20	Oshkosh Corp.		1,722
	39	PACCAR, Inc.		3,569
	22	Parker-Hannifin Corp.		6,360
	27	Terex Corp.		905
	22	Toro Co. (The)		1,892

				28,768

		Media — 0.6%
	1	Cable One, Inc.		1,377
	21	Charter Communications, Inc., Class A(a)		9,074
	218	Comcast Corp., Class A		8,179
	39	Interpublic Group of Cos., Inc. (The)		1,165
	30	New York Times Co. (The), Class A		959
	42	News Corp., Class A		720
	30	News Corp., Class B		518
	17	Omnicom Group, Inc.		1,187
	19	Paramount Global, Class B		449

				23,628

		Metals & Mining — 0.2%
	18	Alcoa Corp.		916
	52	Cleveland-Cliffs, Inc.(a)		921
	36	Commercial Metals Co.		1,426
	9	Newmont Corp.		408
	3	Nucor Corp.		407
	10	Reliance Steel & Aluminum Co.		1,903
	25	Steel Dynamics, Inc.		1,947

				7,928

		Multi-Utilities — 0.1%
	20	Consolidated Edison, Inc.		1,985
	7	DTE Energy Co.		912
	6	WEC Energy Group, Inc.		623

				3,520

		Multiline Retail — 0.1%
	23	Kohl’s Corp.		670
	60	Macy’s, Inc.		1,059
	11	Target Corp.		1,797

				3,526

		Oil, Gas & Consumable Fuels — 1.3%
	131	Antero Midstream Corp.		1,318
	214	APA Corp.		7,954
	18	Chevron Corp.		2,948
	110	CNX Resources Corp.(a)		1,900
	77	ConocoPhillips		7,502
	22	Diamondback Energy, Inc.		2,817
	87	EOG Resources, Inc.		9,676
	38	EQT Corp.		1,673
	38	Exxon Mobil Corp.		3,683
	26	HF Sinclair Corp.		1,243
	42	Kinder Morgan, Inc.		756
	30	Marathon Oil Corp.		744
	8	Occidental Petroleum Corp.		526
	48	Range Resources Corp.(a)		1,587
	183	Southwestern Energy Co.(a)		1,292
	6	Valero Energy Corp.		665

				46,284

		Paper & Forest Products — 0.0%
	16	Louisiana-Pacific Corp.		1,018

		Pharmaceuticals — 1.0%
	67	Bristol-Myers Squibb Co.		4,943
	6	Eli Lilly & Co.		1,978
		Pharmaceuticals — continued
	11	Jazz Pharmaceuticals PLC(a)		1,717
	21	Johnson & Johnson		3,665
	47	Merck & Co., Inc.		4,199
	87	Novartis AG, Sponsored ADR		7,467
	31	Novo Nordisk A/S, Sponsored ADR		3,598
	26	Perrigo Co. PLC		1,089
	53	Pfizer, Inc.		2,677
	130	Roche Holding AG, Sponsored ADR		5,391
	6	Zoetis, Inc.		1,095

				37,819

		Professional Services — 0.3%
	24	Equifax, Inc.		5,014
	22	Exponent, Inc.		2,211
	22	Korn Ferry		1,441
	13	ManpowerGroup, Inc.		1,019
	9	Verisk Analytics, Inc.		1,712

				11,397

		Real Estate Management & Development — 0.2%
	74	CBRE Group, Inc., Class A(a)		6,336
	10	Jones Lang LaSalle, Inc.(a)		1,907

				8,243

		REITs – Apartments — 0.3%
	40	American Campus Communities, Inc.		2,613
	16	AvalonBay Communities, Inc.		3,423
	16	Equity Residential		1,254
	6	Essex Property Trust, Inc.		1,719

				9,009

		REITs – Diversified — 0.3%
	124	American Assets Trust, Inc.		3,748
	8	American Tower Corp.		2,167
	7	Crown Castle International Corp.		1,265
	4	Digital Realty Trust, Inc.		530
	1	Equinix, Inc.		704
	21	VICI Properties, Inc.		718
	32	Weyerhaeuser Co.		1,162

				10,294

		REITs – Health Care — 0.1%
	10	Ventas, Inc.		538
	44	Welltower, Inc.		3,799

				4,337

		REITs – Hotels — 0.0%
	30	Host Hotels & Resorts, Inc.		534

		REITs – Mortgage — 0.0%
	44	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		1,588

		REITs – Office Property — 0.4%
	23	Alexandria Real Estate Equities, Inc.		3,813
	203	Brandywine Realty Trust		1,898
	94	Corporate Office Properties Trust		2,646
	69	Douglas Emmett, Inc.		1,631
	92	Easterly Government Properties, Inc.		1,865
	30	Kilroy Realty Corp.		1,625

				13,478

		REITs – Shopping Centers — 0.1%
	155	Brixmor Property Group, Inc.		3,593

		REITs – Warehouse/Industrials — 0.1%
	15	ProLogis, Inc.		1,988

		Road & Rail — 0.5%
	4	Avis Budget Group, Inc.(a)		728
	47	Canadian Pacific Railway Ltd.		3,707

See accompanying notes to financial statements.

| 24

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — continued
	51	CSX Corp.	$	1,649	��
	20	Norfolk Southern Corp.		5,023
	17	Ryder System, Inc.		1,331
	19	Union Pacific Corp.		4,319

				16,757

		Semiconductors & Semiconductor Equipment — 1.5%
	23	Advanced Micro Devices, Inc.(a)		2,173
	7	Analog Devices, Inc.		1,204
	7	Broadcom, Inc.		3,748
	17	Cirrus Logic, Inc.(a)		1,453
	24	Enphase Energy, Inc.(a)		6,820
	13	First Solar, Inc.(a)		1,289
	36	Intel Corp.		1,307
	37	Lattice Semiconductor Corp.(a)		2,275
	15	Micron Technology, Inc.		928
	119	NVIDIA Corp.		21,614
	47	QUALCOMM, Inc.		6,818
	14	Silicon Laboratories, Inc.(a)		2,065
	7	Synaptics, Inc.(a)		1,015
	7	Texas Instruments, Inc.		1,252
	10	Universal Display Corp.		1,155
	16	Wolfspeed, Inc.(a)		1,333

				56,449

		Software — 2.5%
	12	Adobe, Inc.(a)		4,921
	3	ANSYS, Inc.(a)		837
	4	Aspen Technology, Inc.(a)		816
	57	Autodesk, Inc.(a)		12,330
	15	Blackbaud, Inc.(a)		920
	4	Citrix Systems, Inc.		406
	19	CommVault Systems, Inc.(a)		1,066
	4	Fair Isaac Corp.(a)		1,848
	17	Fortinet, Inc.(a)		1,014
	58	Microsoft Corp.		16,283
	23	NortonLifeLock, Inc.		564
	247	Oracle Corp.		19,227
	8	Paylocity Holding Corp.(a)		1,647
	11	Qualys, Inc.(a)		1,346
	95	Salesforce, Inc.(a)		17,482
	5	ServiceNow, Inc.(a)		2,233
	15	SPS Commerce, Inc.(a)		1,796
	55	Workday, Inc., Class A(a)		8,531

				93,267

		Specialty Retail — 0.4%
	5	Asbury Automotive Group, Inc.(a)		858
	4	Best Buy Co., Inc.		308
	17	Boot Barn Holdings, Inc.(a)		1,059
	10	Five Below, Inc.(a)		1,271
	16	GameStop Corp., Class A(a)		544
	15	Home Depot, Inc. (The)		4,514
	5	Lithia Motors, Inc.		1,326
	11	Lowe’s Cos., Inc.		2,107
	14	TJX Cos., Inc. (The)		856
	2	Tractor Supply Co.		383
	1	Ulta Beauty, Inc.(a)		389
	11	Williams-Sonoma, Inc.		1,589

				15,204

		Technology Hardware, Storage & Peripherals — 0.0%
	39	Hewlett Packard Enterprise Co.		555
	22	HP, Inc.		735

				1,290

		Textiles, Apparel & Luxury Goods — 0.3%
	10	Crocs, Inc.(a)		716
	6	Deckers Outdoor Corp.(a)		1,879
	41	NIKE, Inc., Class B		4,712
	345	Under Armour, Inc., Class A(a)		3,195
	10	VF Corp.		447

				10,949

		Thrifts & Mortgage Finance — 0.1%
	251	MGIC Investment Corp.		3,549
	39	Mr. Cooper Group, Inc.(a)		1,757

				5,306

		Trading Companies & Distributors — 0.0%
	11	GATX Corp.		1,103

		Water Utilities — 0.1%
	17	American States Water Co.		1,482
	9	American Water Works Co., Inc.		1,399
	37	Essential Utilities, Inc.		1,922

				4,803

		Wireless Telecommunication Services — 0.0%
	6	T-Mobile US, Inc.(a)		858

		Total Common Stocks (Identified Cost $1,308,651)		1,211,911


Principal Amount
	Bonds and Notes — 18.9%
		Automotive — 0.4%
$	7,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		6,883
	3,000	Lear Corp., 4.250%, 5/15/2029		2,820
	4,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		3,583

				13,286

		Banking — 3.0%
	7,000	American Express Co., 3.700%, 8/03/2023		7,029
	8,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		7,726
	6,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		6,046
	3,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		2,998
	9,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		8,207
	7,000	Citigroup, Inc., 4.600%, 3/09/2026		7,127
	8,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		7,996
	7,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		6,898
	7,000	KeyCorp, MTN, 2.550%, 10/01/2029		6,222
	3,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		2,866
	4,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		4,008
	5,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		4,515
	8,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		7,699
	3,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		2,940
	3,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		2,969
	6,000	State Street Corp., 2.400%, 1/24/2030		5,405
	4,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		3,459
	8,000	Truist Bank, 3.200%, 4/01/2024		7,996
	8,000	Westpac Banking Corp., 2.350%, 2/19/2025		7,803

				109,909

See accompanying notes to financial statements.

25 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Principal Amount		Description	Value (†)
		Brokerage — 0.4%
$	8,000	BlackRock, Inc., 2.400%, 4/30/2030	$	7,268
	8,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		6,204

				13,472

		Building Materials — 0.3%
	4,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		3,669
	8,000	Owens Corning, 3.950%, 8/15/2029		7,626

				11,295

		Chemicals — 0.1%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		1,945

		Diversified Manufacturing — 0.3%
	8,000	3M Co., 3.050%, 4/15/2030		7,589
	5,000	Emerson Electric Co., 2.000%, 12/21/2028		4,564

				12,153

		Electric — 1.1%
	7,000	Duke Energy Corp., 3.750%, 4/15/2024		7,029
	9,000	Entergy Corp., 0.900%, 9/15/2025		8,196
	5,000	Exelon Corp., 4.050%, 4/15/2030		4,958
	8,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		7,038
	3,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		2,766
	4,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		3,461
	7,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		6,941

				40,389

		Environmental — 0.1%
	4,000	Republic Services, Inc., 1.450%, 2/15/2031		3,302
	2,000	Waste Management, Inc., 2.950%, 6/01/2041		1,630

				4,932

		Finance Companies — 0.2%
	4,000	Ares Capital Corp., 3.250%, 7/15/2025		3,772
	5,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		4,371

				8,143

		Food & Beverage — 0.6%
	7,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		6,525
	7,000	General Mills, Inc., 4.000%, 4/17/2025		7,088
	3,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,736
	7,000	PepsiCo, Inc., 2.750%, 3/19/2030		6,672

				23,021

		Government Owned – No Guarantee — 0.5%
	6,000	Equinor ASA, 3.625%, 4/06/2040		5,505
	11,000	Federal National Mortgage Association, 6.625%, 11/15/2030		13,926

				19,431

		Health Insurance — 0.4%
	7,000	Elevance Health, Inc., 4.101%, 3/01/2028		7,098
	5,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		5,872

				12,970

		Healthcare — 0.5%
	4,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		4,086
	2,000	CVS Health Corp., 4.300%, 3/25/2028		2,033
	4,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		3,873
	5,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		4,957
	5,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		4,580

				19,529

		Integrated Energy — 0.3%
	8,000	Exxon Mobil Corp., 2.992%, 3/19/2025		7,968
	4,000	Shell International Finance BV, 6.375%, 12/15/2038		4,816

				12,784

		Life Insurance — 0.1%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,073

		Mortgage Related — 5.1%
	34,602	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		32,300
	14,692	FHLMC, 3.000%, with various maturities from 2049 to 2052(b)		14,161
	8,870	FHLMC, 3.500%, 5/01/2052		8,784
	42,254	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		38,095
	31,910	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		29,824
	39,748	FNMA, 3.000%, with various maturities from 2035 to 2052(b)		38,481
	22,011	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		21,858
	1,317	FNMA, 4.000%, 3/01/2050		1,330
	1,522	FNMA, 4.500%, with various maturities in 2049(b)		1,564

				186,397

		Natural Gas — 0.2%
	9,000	NiSource, Inc., 0.950%, 8/15/2025		8,238

		Pharmaceuticals — 0.4%
	7,000	AbbVie, Inc., 3.600%, 5/14/2025		7,001
	3,000	Biogen, Inc., 2.250%, 5/01/2030		2,563
	5,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		4,952
	2,000	Viatris, Inc., 3.850%, 6/22/2040		1,459

				15,975

		Property & Casualty Insurance — 0.1%
	2,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		1,797

		Railroads — 0.2%
	7,000	CSX Corp., 2.600%, 11/01/2026		6,804

		REITs – Apartments — 0.1%
	5,000	Essex Portfolio LP, 3.000%, 1/15/2030		4,516

		REITs – Health Care — 0.1%
	5,000	Welltower, Inc., 2.800%, 6/01/2031		4,336

		REITs – Office Property — 0.6%
	8,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		7,959
	5,000	Boston Properties LP, 2.750%, 10/01/2026		4,742
	9,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		7,635

				20,336

		REITs – Single Tenant — 0.1%
	3,000	Realty Income Corp., 3.400%, 1/15/2028		2,901
	3,000	Spirit Realty LP, 2.700%, 2/15/2032		2,417

				5,318

		REITs – Warehouse/Industrials — 0.1%
	5,000	Prologis LP, 1.250%, 10/15/2030		4,115

		Restaurants — 0.2%
	7,000	Starbucks Corp., 2.250%, 3/12/2030		6,154

		Retailers — 0.3%
	3,000	Amazon.com, Inc., 3.875%, 8/22/2037		3,021
	9,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		7,914

				10,935

		Technology — 1.1%
	7,000	Apple, Inc., 2.500%, 2/09/2025		6,937
	4,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		3,792

See accompanying notes to financial statements.

| 26

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2020 Fund – (continued)


Principal Amount		Description	Value (†)
		Technology — continued
$	5,000	Intel Corp., 2.450%, 11/15/2029	$	4,610
	7,000	International Business Machines Corp., 4.000%, 6/20/2042		6,381
	5,000	NVIDIA Corp., 2.850%, 4/01/2030		4,771
	7,000	Oracle Corp., 2.950%, 5/15/2025		6,824
	7,000	QUALCOMM, Inc., 1.650%, 5/20/2032		5,929

				39,244

		Treasuries — 1.4%
	8,000	U.S. Treasury Bond, 2.250%, 5/15/2041		6,848
	7,000	U.S. Treasury Bond, 2.500%, 5/15/2046		6,067
	11,000	U.S. Treasury Bond, 2.875%, 11/15/2046		10,230
	11,000	U.S. Treasury Bond, 3.000%, 5/15/2045		10,422
	9,000	U.S. Treasury Bond, 3.000%, 2/15/2048		8,658
	11,000	U.S. Treasury Bond, 3.000%, 2/15/2049		10,725

				52,950

		Utility Other — 0.1%
	4,000	Essential Utilities, Inc., 4.276%, 5/01/2049		3,614

		Wireless — 0.2%
	6,000	Vodafone Group PLC, 6.150%, 2/27/2037		6,678

		Wirelines — 0.3%
	3,000	AT&T, Inc., 3.650%, 6/01/2051		2,444
	7,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		6,985

				9,429

		Total Bonds and Notes (Identified Cost $755,591)		692,168


Shares
	Exchange-Traded Funds — 4.3%
	2,400	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $178,319)		158,904


	Mutual Funds — 6.0%
	4,354	WCM Focused Emerging Markets Fund, Institutional Class		57,740
	7,710	WCM Focused International Growth Fund, Institutional Class		160,518

		Total Mutual Funds (Identified Cost $260,702)		218,258


	Affiliated Mutual Funds — 35.5%
	38,973	Loomis Sayles Inflation Protected Securities Fund, Class N		419,743
	33,168	Loomis Sayles Limited Term Government and Agency Fund, Class N		363,852
	40,320	Mirova Global Green Bond Fund, Class N		362,073
	14,103	Mirova International Sustainable Equity Fund, Class N		157,815

		Total Affiliated Mutual Funds (Identified Cost $1,406,641)		1,303,483


Principal Amount		Description	Value (†)
	Short-Term Investments — 3.2%
$	118,588	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $118,594 on 8/01/2022 collateralized by $46,300 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $46,535; $61,900 U.S. Treasury Note, 0.500% due 1/15/2028 valued at $74,744 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $118,588)		118,588


		Total Investments — 100.9% (Identified Cost $4,028,492)		3,703,312
		Other assets less liabilities — (0.9)%		(32,634	)

		Net Assets — 100.0%	$	3,670,678


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $6,658 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
	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, 2022 (Unaudited)


Fixed Income	50.1	%
Equity	47.6
Short-Term Investments	3.2

Total Investments	100.9
Other assets less liabilities	(0.9	)

Net Assets	100.0	%

See accompanying notes to financial statements.

27 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund


Shares		Description	Value (��)
	Common Stocks — 36.5% of Net Assets
		Aerospace & Defense — 0.6%
	85	AAR Corp.(a)	$	3,785
	19	Axon Enterprise, Inc.(a)		2,094
	167	Boeing Co. (The)(a)		26,605
	3	L3Harris Technologies, Inc.		720
	6	Lockheed Martin Corp.		2,483
	29	Moog, Inc., Class A		2,483
	4	Northrop Grumman Corp.		1,916
	54	Raytheon Technologies Corp.		5,033

				45,119

		Air Freight & Logistics — 0.2%
	85	Expeditors International of Washington, Inc.		9,031
	7	FedEx Corp.		1,632
	31	GXO Logistics, Inc.(a)		1,488
	11	United Parcel Service, Inc., Class B		2,144

				14,295

		Airlines — 0.1%
	76	Delta Air Lines, Inc.(a)		2,417
	261	JetBlue Airways Corp.(a)		2,197

				4,614

		Auto Components — 0.3%
	273	BorgWarner, Inc.		10,499
	176	Dana, Inc.		2,950
	34	Dorman Products, Inc.(a)		3,437
	24	Visteon Corp.(a)		3,062

				19,948

		Automobiles — 0.8%
	450	General Motors Co.(a)		16,317
	43	Tesla, Inc.(a)		38,332
	26	Thor Industries, Inc.		2,193

				56,842

		Banks — 1.6%
	131	Ameris Bancorp		6,195
	310	Bank of America Corp.		10,481
	134	Cadence Bank		3,497
	354	Citigroup, Inc.		18,373
	65	Citizens Financial Group, Inc.		2,468
	26	Fifth Third Bancorp		887
	601	FNB Corp.		7,188
	419	Fulton Financial Corp.		6,993
	75	Huntington Bancshares, Inc.		997
	112	International Bancshares Corp.		4,912
	27	JPMorgan Chase & Co.		3,115
	121	KeyCorp		2,214
	8	M&T Bank Corp.		1,420
	18	PNC Financial Services Group, Inc. (The)		2,987
	128	Regions Financial Corp.		2,711
	4	Signature Bank		742
	3	SVB Financial Group(a)		1,211
	124	Truist Financial Corp.		6,258
	174	Trustmark Corp.		5,650
	66	U.S. Bancorp		3,115
	106	Webster Financial Corp.		4,924
	313	Wells Fargo & Co.		13,731
	49	Wintrust Financial Corp.		4,216

				114,285

		Beverages — 0.7%
	21	Boston Beer Co., Inc. (The), Class A(a)		7,989
	120	Coca-Cola Co. (The)		7,700
		Beverages — continued
	20	Keurig Dr Pepper, Inc.		775
	303	Monster Beverage Corp.(a)		30,185
	30	PepsiCo, Inc.		5,249

				51,898

		Biotechnology — 1.1%
	47	AbbVie, Inc.		6,745
	97	Alnylam Pharmaceuticals, Inc.(a)		13,778
	20	Amgen, Inc.		4,949
	58	Arrowhead Pharmaceuticals, Inc.(a)		2,467
	12	Biogen, Inc.(a)		2,581
	78	BioMarin Pharmaceutical, Inc.(a)		6,712
	110	CRISPR Therapeutics AG(a)		8,250
	17	Gilead Sciences, Inc.		1,016
	77	Halozyme Therapeutics, Inc.(a)		3,765
	16	Moderna, Inc.(a)		2,625
	30	Neurocrine Biosciences, Inc.(a)		2,824
	37	Regeneron Pharmaceuticals, Inc.(a)		21,523

				77,235

		Building Products — 0.4%
	47	Builders FirstSource, Inc.(a)		3,196
	18	Carlisle Cos., Inc.		5,330
	31	Carrier Global Corp.		1,256
	19	Johnson Controls International PLC		1,024
	18	Lennox International, Inc.		4,312
	137	Masco Corp.		7,587
	54	Owens Corning		5,008
	36	Trex Co., Inc.(a)		2,323

				30,036

		Capital Markets — 2.2%
	7	Ameriprise Financial, Inc.		1,889
	258	Bank of New York Mellon Corp. (The)		11,213
	5	BlackRock, Inc.		3,346
	252	Charles Schwab Corp. (The)		17,401
	11	CME Group, Inc.		2,194
	27	FactSet Research Systems, Inc.		11,601
	40	Goldman Sachs Group, Inc. (The)		13,336
	115	Intercontinental Exchange, Inc.		11,729
	85	Janus Henderson Group PLC		2,190
	333	KKR & Co., Inc.		18,468
	38	Moody’s Corp.		11,790
	31	Morgan Stanley		2,613
	22	MSCI, Inc.		10,589
	11	Northern Trust Corp.		1,098
	24	S&P Global, Inc.		9,046
	167	SEI Investments Co.		9,245
	201	State Street Corp.		14,279
	18	Virtus Investment Partners, Inc.		3,714

				155,741

		Chemicals — 0.3%
	7	Air Products & Chemicals, Inc.		1,737
	17	DuPont de Nemours, Inc.		1,041
	52	HB Fuller Co.		3,338
	37	Innospec, Inc.		3,774
	13	Linde PLC		3,926
	44	Minerals Technologies, Inc.		2,940
	23	Stepan Co.		2,581

				19,337

		Commercial Services & Supplies — 0.2%
	24	MSA Safety, Inc.		3,080
	31	Tetra Tech, Inc.		4,751

See accompanying notes to financial statements.

| 28

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	50	Viad Corp.(a)	$	1,689
	41	Waste Management, Inc.		6,747

				16,267

		Communications Equipment — 0.1%
	57	Ciena Corp.(a)		2,941
	35	Lumentum Holdings, Inc.(a)		3,166

				6,107

		Construction & Engineering — 0.1%
	98	AECOM		7,056

		Consumer Finance — 0.6%
	557	Ally Financial, Inc.		18,420
	61	American Express Co.		9,395
	115	Capital One Financial Corp.		12,630
	65	Green Dot Corp., Class A(a)		1,827

				42,272

		Containers & Packaging — 0.1%
	12	Ball Corp.		881
	25	International Paper Co.		1,069
	81	Sonoco Products Co.		5,143

				7,093

		Distributors — 0.1%
	21	Genuine Parts Co.		3,210

		Diversified Consumer Services — 0.1%
	43	Grand Canyon Education, Inc.(a)		4,131
	61	Service Corp. International		4,542

				8,673

		Diversified Telecommunication Services — 0.1%
	72	AT&T, Inc.		1,352
	90	Lumen Technologies, Inc.		980
	42	Verizon Communications, Inc.		1,940

				4,272

		Electric Utilities — 0.4%
	67	American Electric Power Co., Inc.		6,603
	73	Edison International		4,947
	76	Eversource Energy		6,705
	33	IDACORP, Inc.		3,687
	53	NextEra Energy, Inc.		4,478

				26,420

		Electrical Equipment — 0.8%
	13	Acuity Brands, Inc.		2,371
	249	ChargePoint Holdings, Inc.(a)		3,762
	17	Eaton Corp. PLC		2,523
	15	Emerson Electric Co.		1,351
	521	Fluence Energy, Inc.(a)		7,159
	23	Hubbell, Inc.		5,037
	397	Plug Power, Inc.(a)		8,472
	24	Rockwell Automation, Inc.		6,127
	279	Shoals Technologies Group, Inc., Class A(a)		6,593
	354	Sunrun, Inc.(a)		11,572

				54,967

		Electronic Equipment, Instruments & Components — 0.3%
	102	Avnet, Inc.		4,883
	68	Cognex Corp.		3,467
	22	Corning, Inc.		809
	11	II-VI, Inc.(a)		579
	74	Itron, Inc.(a)		4,321
	5	Keysight Technologies, Inc.(a)		813
	13	Littelfuse, Inc.		3,625
		Electronic Equipment, Instruments & Components — continued
	30	TE Connectivity Ltd.		4,012

				22,509

		Energy Equipment & Services — 0.1%
	315	Archrock, Inc.		2,659
	36	Baker Hughes Co.		925
	137	ChampionX Corp.		2,862
	44	Schlumberger NV		1,629

				8,075

		Entertainment — 1.3%
	20	Activision Blizzard, Inc.		1,599
	48	Electronic Arts, Inc.		6,299
	187	Netflix, Inc.(a)		42,056
	71	Take-Two Interactive Software, Inc.(a)		9,424
	265	Walt Disney Co. (The)(a)		28,117
	206	Warner Bros Discovery, Inc.(a)		3,090

				90,585

		Food & Staples Retailing — 0.3%
	52	BJ’s Wholesale Club Holdings, Inc.(a)		3,520
	4	Costco Wholesale Corp.		2,165
	68	Kroger Co. (The)		3,158
	96	SpartanNash Co.		3,100
	123	Sprouts Farmers Market, Inc.(a)		3,400
	29	Sysco Corp.		2,462
	33	Walgreens Boots Alliance, Inc.		1,308
	18	Walmart, Inc.		2,377

				21,490

		Food Products — 0.3%
	37	Campbell Soup Co.		1,826
	118	Darling Ingredients, Inc.(a)		8,175
	27	General Mills, Inc.		2,019
	67	Hain Celestial Group, Inc. (The)(a)		1,524
	28	Hormel Foods Corp.		1,382
	35	Ingredion, Inc.		3,184
	7	J.M. Smucker Co. (The)		926
	14	Kellogg Co.		1,035
	8	McCormick & Co., Inc.		699

				20,770

		Gas Utilities — 0.1%
	111	New Jersey Resources Corp.		5,127
	40	ONE Gas, Inc.		3,398

				8,525

		Health Care Equipment & Supplies — 0.6%
	58	Abbott Laboratories		6,313
	15	Becton Dickinson & Co.		3,665
	5	Cooper Cos., Inc. (The)		1,635
	13	DexCom, Inc.(a)		1,067
	31	Edwards Lifesciences Corp.(a)		3,117
	33	Globus Medical, Inc., Class A(a)		1,937
	38	Haemonetics Corp.(a)		2,641
	13	Hologic, Inc.(a)		928
	35	Intuitive Surgical, Inc.(a)		8,056
	106	LeMaitre Vascular, Inc.		5,337
	19	Penumbra, Inc.(a)		2,648
	5	ResMed, Inc.		1,202
	16	Shockwave Medical, Inc.(a)		3,375
	4	STERIS PLC		903
	6	Stryker Corp.		1,288
	3	Teleflex, Inc.		721

				44,833

See accompanying notes to financial statements.

29 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description		Value (†)
		Health Care Providers & Services — 0.9%
	51	Acadia Healthcare Co., Inc.(a)		$	4,228
	11	Amedisys, Inc.(a)			1,318
	48	Centene Corp.(a)			4,463
	8	Chemed Corp.			3,849
	20	Cigna Corp.			5,507
	25	CVS Health Corp.			2,392
	12	Elevance Health, Inc.			5,725
	30	Encompass Health Corp.			1,519
	15	Enhabit, Inc.(a)			263
	71	HCA Healthcare, Inc.			15,082
	9	Humana, Inc.			4,338
	9	Quest Diagnostics, Inc.			1,229
	84	Select Medical Holdings Corp.			2,488
	46	Tenet Healthcare Corp.(a)			3,041
	14	UnitedHealth Group, Inc.			7,593

					63,035

		Health Care Technology — 0.4%
	153	Allscripts Healthcare Solutions, Inc.(a)			2,420
	343	Doximity, Inc., Class A(a)			14,516
	52	Veeva Systems, Inc., Class A(a)			11,626

					28,562

		Hotels, Restaurants & Leisure — 1.0%
	12	Booking Holdings, Inc.(a)			23,228
	20	Expedia Group, Inc.(a)			2,121
	46	Hilton Worldwide Holdings, Inc.			5,891
	37	Jack in the Box, Inc.			2,558
	12	McDonald’s Corp.			3,161
	158	Starbucks Corp.			13,395
	83	Travel & Leisure Co.			3,578
	180	Yum China Holdings, Inc.			8,768
	57	Yum! Brands, Inc.			6,985

					69,685

		Household Durables — 0.3%
	17	DR Horton, Inc.			1,326
	107	KB Home			3,492
	42	Meritage Homes Corp.(a)			3,709
	193	PulteGroup, Inc.			8,419
	137	Taylor Morrison Home Corp.(a)			3,932

					20,878

		Household Products — 0.3%
	107	Colgate-Palmolive Co.			8,425
	34	Kimberly-Clark Corp.			4,481
	56	Procter & Gamble Co. (The)			7,779

					20,685

		Independent Power & Renewable Electricity Producers — 0.2%
	49	AES Corp. (The)			1,089
	58	NextEra Energy Partners LP			4,799
	196	Sunnova Energy International, Inc.(a)			5,100

					10,988

		Industrial Conglomerates — 0.2%
	14	3M Co.			2,005
	102	General Electric Co.			7,539
	17	Honeywell International, Inc.			3,272

					12,816

		Insurance — 1.0%
	29	Aflac, Inc.			1,662
	15	Allstate Corp. (The)			1,755
	189	American International Group, Inc.			9,785
	18	Chubb Ltd.			3,396
		Insurance — continued
	56	First American Financial Corp.			3,248
	35	Hanover Insurance Group, Inc. (The)			4,776
	29	Marsh & McLennan Cos., Inc.			4,755
	129	Prudential Financial, Inc.			12,899
	94	Reinsurance Group of America, Inc.			10,883
	63	Selective Insurance Group, Inc.			4,905
	15	Travelers Cos., Inc. (The)			2,380
	61	Willis Towers Watson PLC			12,623
			��
					73,067

		Interactive Media & Services — 1.6%
	305	Alphabet, Inc., Class A(a)			35,478
	157	Alphabet, Inc., Class C(a)			18,312
	250	Meta Platforms, Inc., Class A(a)			39,775
	631	Pinterest, Inc., Class A(a)			12,292
	119	Twitter, Inc.(a)			4,952

					110,809

		Internet & Direct Marketing Retail — 1.4%
	88	Alibaba Group Holding Ltd., Sponsored ADR(a)			7,864
	453	Amazon.com, Inc.(a)			61,132
	360	eBay, Inc.			17,507
	76	Etsy, Inc.(a)			7,883

					94,386

		IT Services — 1.9%
	8	Accenture PLC, Class A			2,450
	12	Automatic Data Processing, Inc.			2,893
	98	Block, Inc.(a)			7,454
	20	Cognizant Technology Solutions Corp., Class A			1,359
	22	Concentrix Corp.			2,943
	160	Fiserv, Inc.(a)			16,909
	42	Gartner, Inc.(a)			11,150
	92	Global Payments, Inc.			11,253
	20	International Business Machines Corp.			2,616
	45	Mastercard, Inc., Class A			15,921
	9	Paychex, Inc.			1,154
	121	PayPal Holdings, Inc.(a)			10,470
	23	Perficient, Inc.(a)			2,427
	178	Shopify, Inc., Class A(a)			6,200
	6	VeriSign, Inc.(a)			1,135
	163	Visa, Inc., Class A			34,574
	18	WEX, Inc.(a)			2,992

					133,900

		Leisure Products — 0.1%
	177	Mattel, Inc.(a)			4,106

		Life Sciences Tools & Services — 0.4%
	18	Agilent Technologies, Inc.			2,414
	18	Danaher Corp.			5,246
	52	Illumina, Inc.(a)			11,267
	4	IQVIA Holdings, Inc.(a)			961
	6	PerkinElmer, Inc.			919
	18	Repligen Corp.(a)			3,841
	7	Thermo Fisher Scientific, Inc.			4,189
	3	Waters Corp.(a)			1,092

					29,929

		Machinery — 0.9%
	27	AGCO Corp.			2,941
	14	Caterpillar, Inc.			2,775
	12	Chart Industries, Inc.(a)			2,341
	21	Cummins, Inc.			4,647
	26	Deere & Co.			8,923
	15	Illinois Tool Works, Inc.			3,116

See accompanying notes to financial statements.

| 30

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	59	ITT, Inc.	$	4,427
	47	Oshkosh Corp.		4,047
	84	PACCAR, Inc.		7,688
	48	Parker-Hannifin Corp.		13,876
	54	Terex Corp.		1,810
	49	Toro Co. (The)		4,214

				60,805

		Media — 0.7%
	3	Cable One, Inc.		4,130
	45	Charter Communications, Inc., Class A(a)		19,445
	459	Comcast Corp., Class A		17,222
	82	Interpublic Group of Cos., Inc. (The)		2,449
	63	New York Times Co. (The), Class A		2,013
	81	News Corp., Class A		1,388
	54	News Corp., Class B		933
	36	Omnicom Group, Inc.		2,514
	31	Paramount Global, Class B		733

				50,827

		Metals & Mining — 0.3%
	36	Alcoa Corp.		1,832
	104	Cleveland-Cliffs, Inc.(a)		1,842
	81	Commercial Metals Co.		3,209
	25	Newmont Corp.		1,132
	7	Nucor Corp.		951
	24	Reliance Steel & Aluminum Co.		4,566
	58	Steel Dynamics, Inc.		4,517

				18,049

		Multi-Utilities — 0.1%
	44	Consolidated Edison, Inc.		4,368
	16	DTE Energy Co.		2,085
	11	WEC Energy Group, Inc.		1,142

				7,595

		Multiline Retail — 0.1%
	48	Kohl’s Corp.		1,399
	118	Macy’s, Inc.		2,083
	22	Target Corp.		3,594

				7,076

		Oil, Gas & Consumable Fuels — 1.4%
	298	Antero Midstream Corp.		2,998
	463	APA Corp.		17,210
	39	Chevron Corp.		6,387
	195	CNX Resources Corp.(a)		3,368
	165	ConocoPhillips		16,076
	47	Diamondback Energy, Inc.		6,017
	188	EOG Resources, Inc.		20,909
	84	EQT Corp.		3,699
	83	Exxon Mobil Corp.		8,045
	59	HF Sinclair Corp.		2,821
	70	Kinder Morgan, Inc.		1,259
	61	Marathon Oil Corp.		1,513
	14	Occidental Petroleum Corp.		920
	94	Range Resources Corp.(a)		3,109
	357	Southwestern Energy Co.(a)		2,520
	14	Valero Energy Corp.		1,551

				98,402

		Paper & Forest Products — 0.0%
	32	Louisiana-Pacific Corp.		2,036

		Pharmaceuticals — 1.2%
	136	Bristol-Myers Squibb Co.		10,034
	14	Eli Lilly & Co.		4,616
		Pharmaceuticals — continued
	24	Jazz Pharmaceuticals PLC(a)		3,745
	48	Johnson & Johnson		8,377
	95	Merck & Co., Inc.		8,487
	187	Novartis AG, Sponsored ADR		16,050
	68	Novo Nordisk A/S, Sponsored ADR		7,892
	58	Perrigo Co. PLC		2,429
	104	Pfizer, Inc.		5,253
	276	Roche Holding AG, Sponsored ADR		11,446
	12	Zoetis, Inc.		2,191

				80,520

		Professional Services — 0.3%
	53	Equifax, Inc.		11,072
	45	Exponent, Inc.		4,522
	49	Korn Ferry		3,210
	29	ManpowerGroup, Inc.		2,274
	15	Verisk Analytics, Inc.		2,854

				23,932

		Real Estate Management & Development — 0.3%
	162	CBRE Group, Inc., Class A(a)		13,871
	24	Jones Lang LaSalle, Inc.(a)		4,576

				18,447

		REITs – Apartments — 0.3%
	82	American Campus Communities, Inc.		5,356
	36	AvalonBay Communities, Inc.		7,702
	27	Equity Residential		2,116
	13	Essex Property Trust, Inc.		3,725

				18,899

		REITs – Diversified — 0.3%
	240	American Assets Trust, Inc.		7,255
	18	American Tower Corp.		4,875
	16	Crown Castle International Corp.		2,890
	8	Digital Realty Trust, Inc.		1,060
	2	Equinix, Inc.		1,407
	57	VICI Properties, Inc.		1,949
	59	Weyerhaeuser Co.		2,143

				21,579

		REITs – Health Care — 0.1%
	18	Ventas, Inc.		968
	90	Welltower, Inc.		7,771

				8,739

		REITs – Hotels — 0.0%
	62	Host Hotels & Resorts, Inc.		1,104

		REITs – Mortgage — 0.1%
	95	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		3,429

		REITs – Office Property — 0.4%
	47	Alexandria Real Estate Equities, Inc.		7,792
	434	Brandywine Realty Trust		4,058
	202	Corporate Office Properties Trust		5,686
	148	Douglas Emmett, Inc.		3,499
	197	Easterly Government Properties, Inc.		3,993
	62	Kilroy Realty Corp.		3,359

				28,387

		REITs – Shopping Centers — 0.1%
	334	Brixmor Property Group, Inc.		7,742

		REITs – Warehouse/Industrials — 0.1%
	30	ProLogis, Inc.		3,977

See accompanying notes to financial statements.

31 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — 0.5%
	10	Avis Budget Group, Inc.(a)	$	1,820
	95	Canadian Pacific Railway Ltd.		7,492
	96	CSX Corp.		3,104
	40	Norfolk Southern Corp.		10,047
	34	Ryder System, Inc.		2,663
	40	Union Pacific Corp.		9,092

				34,218

		Semiconductors & Semiconductor Equipment — 1.7%
	45	Advanced Micro Devices, Inc.(a)		4,251
	16	Analog Devices, Inc.		2,751
	15	Broadcom, Inc.		8,032
	33	Cirrus Logic, Inc.(a)		2,820
	49	Enphase Energy, Inc.(a)		13,925
	30	First Solar, Inc.(a)		2,975
	75	Intel Corp.		2,723
	76	Lattice Semiconductor Corp.(a)		4,674
	25	Micron Technology, Inc.		1,547
	253	NVIDIA Corp.		45,953
	102	QUALCOMM, Inc.		14,796
	25	Silicon Laboratories, Inc.(a)		3,687
	14	Synaptics, Inc.(a)		2,029
	16	Texas Instruments, Inc.		2,862
	21	Universal Display Corp.		2,425
	33	Wolfspeed, Inc.(a)		2,749

				118,199

		Software — 2.8%
	25	Adobe, Inc.(a)		10,253
	5	ANSYS, Inc.(a)		1,395
	11	Aspen Technology, Inc.(a)		2,245
	118	Autodesk, Inc.(a)		25,526
	28	Blackbaud, Inc.(a)		1,717
	8	Citrix Systems, Inc.		811
	42	CommVault Systems, Inc.(a)		2,356
	8	Fair Isaac Corp.(a)		3,696
	38	Fortinet, Inc.(a)		2,267
	123	Microsoft Corp.		34,531
	46	NortonLifeLock, Inc.		1,128
	527	Oracle Corp.		41,022
	19	Paylocity Holding Corp.(a)		3,913
	26	Qualys, Inc.(a)		3,180
	201	Salesforce, Inc.(a)		36,988
	11	ServiceNow, Inc.(a)		4,913
	30	SPS Commerce, Inc.(a)		3,593
	119	Workday, Inc., Class A(a)		18,457

				197,991

		Specialty Retail — 0.5%
	12	Asbury Automotive Group, Inc.(a)		2,060
	1	AutoZone, Inc.(a)		2,137
	7	Best Buy Co., Inc.		539
	35	Boot Barn Holdings, Inc.(a)		2,181
	24	Five Below, Inc.(a)		3,050
	36	GameStop Corp., Class A(a)		1,224
	33	Home Depot, Inc. (The)		9,931
	11	Lithia Motors, Inc.		2,918
	23	Lowe’s Cos., Inc.		4,405
	31	TJX Cos., Inc. (The)		1,896
	4	Tractor Supply Co.		766
	2	Ulta Beauty, Inc.(a)		778
	25	Williams-Sonoma, Inc.		3,610

				35,495

		Technology Hardware, Storage & Peripherals — 0.0%
	77	Hewlett Packard Enterprise Co.		1,096
	41	HP, Inc.		1,369

				2,465

		Textiles, Apparel & Luxury Goods — 0.3%
	20	Crocs, Inc.(a)		1,433
	14	Deckers Outdoor Corp.(a)		4,385
	83	NIKE, Inc., Class B		9,539
	686	Under Armour, Inc., Class A(a)		6,352
	18	VF Corp.		804

				22,513

		Thrifts & Mortgage Finance — 0.2%
	536	MGIC Investment Corp.		7,579
	76	Mr. Cooper Group, Inc.(a)		3,424

				11,003

		Trading Companies & Distributors — 0.0%
	22	GATX Corp.		2,205

		Water Utilities — 0.2%
	38	American States Water Co.		3,313
	21	American Water Works Co., Inc.		3,264
	76	Essential Utilities, Inc.		3,947

				10,524

		Wireless Telecommunication Services — 0.0%
	13	T-Mobile US, Inc.(a)		1,860

		Total Common Stocks (Identified Cost $2,744,711)		2,553,338


Principal Amount
	Bonds and Notes — 18.5%
		Automotive — 0.3%
$	11,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		10,817
	4,000	Lear Corp., 4.250%, 5/15/2029		3,760
	8,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		7,166

				21,743

		Banking — 2.7%
	12,000	American Express Co., 3.700%, 8/03/2023		12,050
	13,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		12,554
	10,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		10,076
	8,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		7,994
	14,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		12,766
	11,000	Citigroup, Inc., 4.600%, 3/09/2026		11,200
	11,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		10,994
	11,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		10,841
	13,000	KeyCorp, MTN, 2.550%, 10/01/2029		11,554
	7,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		6,687
	6,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		6,012
	7,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		6,321
	13,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		12,511
	7,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		6,861
	8,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		7,916
	10,000	State Street Corp., 2.400%, 1/24/2030		9,009
	9,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		7,783

See accompanying notes to financial statements.

| 32

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Principal Amount		Description	Value (†)
		Banking — continued
$	13,000	Truist Bank, 3.200%, 4/01/2024	$	12,994
	13,000	Westpac Banking Corp., 2.350%, 2/19/2025		12,680

				188,803

		Brokerage — 0.3%
	12,000	BlackRock, Inc., 2.400%, 4/30/2030		10,902
	16,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		12,407

				23,309

		Building Materials — 0.3%
	7,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		6,421
	13,000	Owens Corning, 3.950%, 8/15/2029		12,391

				18,812

		Chemicals — 0.1%
	4,000	LYB International Finance BV, 5.250%, 7/15/2043		3,890

		Diversified Manufacturing — 0.3%
	13,000	3M Co., 3.050%, 4/15/2030		12,332
	7,000	Emerson Electric Co., 2.000%, 12/21/2028		6,389

				18,721

		Electric — 0.9%
	11,000	Duke Energy Corp., 3.750%, 4/15/2024		11,045
	14,000	Entergy Corp., 0.900%, 9/15/2025		12,749
	6,000	Exelon Corp., 4.050%, 4/15/2030		5,949
	14,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		12,316
	5,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		4,610
	4,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		3,461
	10,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		9,917

				60,047

		Environmental — 0.2%
	8,000	Republic Services, Inc., 1.450%, 2/15/2031		6,605
	7,000	Waste Management, Inc., 2.950%, 6/01/2041		5,704

				12,309

		Finance Companies — 0.2%
	7,000	Ares Capital Corp., 3.250%, 7/15/2025		6,601
	7,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		6,120

				12,721

		Food & Beverage — 0.6%
	14,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		13,049
	11,000	General Mills, Inc., 4.000%, 4/17/2025		11,138
	7,000	Mondelez International, Inc., 2.750%, 4/13/2030		6,385
	12,000	PepsiCo, Inc., 2.750%, 3/19/2030		11,438

				42,010

		Government Owned – No Guarantee — 0.5%
	12,000	Equinor ASA, 3.625%, 4/06/2040		11,010
	20,000	Federal National Mortgage Association, 6.625%, 11/15/2030		25,320

				36,330

		Health Insurance — 0.3%
	11,000	Elevance Health, Inc., 4.101%, 3/01/2028		11,154
	9,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		10,570

				21,724

		Healthcare — 0.5%
	6,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		6,129
	6,000	Cigna Corp., 3.750%, 7/15/2023		6,010
	2,000	CVS Health Corp., 4.300%, 3/25/2028		2,033
	6,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		5,809
		Healthcare — continued
	6,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		5,949
	8,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		7,328

				33,258

		Integrated Energy — 0.3%
	13,000	Exxon Mobil Corp., 2.992%, 3/19/2025		12,949
	8,000	Shell International Finance BV, 6.375%, 12/15/2038		9,631

				22,580

		Life Insurance — 0.0%
	3,000	Athene Holding Ltd., 6.150%, 4/03/2030		3,110

		Mortgage Related — 5.2%
	58,006	FHLMC, 2.500%, 2/01/2052		54,143
	15,702	FHLMC, 3.000%, 4/01/2052		15,129
	18,889	FHLMC, 3.500%, with various maturities from 2049 to 2052(b)		18,779
	90,178	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		81,303
	81,761	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		76,409
	79,176	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		76,641
	35,298	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		35,034
	2,261	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		2,285
	2,779	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		2,856

				362,579

		Natural Gas — 0.2%
	14,000	NiSource, Inc., 0.950%, 8/15/2025		12,815

		Pharmaceuticals — 0.4%
	11,000	AbbVie, Inc., 3.600%, 5/14/2025		11,002
	7,000	Biogen, Inc., 2.250%, 5/01/2030		5,981
	8,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		7,922
	6,000	Viatris, Inc., 3.850%, 6/22/2040		4,378

				29,283

		Property & Casualty Insurance — 0.1%
	5,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		4,492

		Railroads — 0.2%
	12,000	CSX Corp., 2.600%, 11/01/2026		11,664

		REITs – Apartments — 0.1%
	7,000	Essex Portfolio LP, 3.000%, 1/15/2030		6,322

		REITs – Health Care — 0.1%
	8,000	Welltower, Inc., 2.800%, 6/01/2031		6,938

		REITs – Office Property — 0.4%
	13,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		12,933
	6,000	Boston Properties LP, 2.750%, 10/01/2026		5,691
	14,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		11,877

				30,501

		REITs – Single Tenant — 0.1%
	4,000	Realty Income Corp., 3.400%, 1/15/2028		3,868
	5,000	Spirit Realty LP, 2.700%, 2/15/2032		4,028

				7,896

		REITs – Warehouse/Industrials — 0.1%
	8,000	Prologis LP, 1.250%, 10/15/2030		6,584

		Restaurants — 0.1%
	12,000	Starbucks Corp., 2.250%, 3/12/2030		10,550

See accompanying notes to financial statements.

33 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2025 Fund – (continued)


Principal Amount		Description	Value (†)
		Retailers — 0.3%
$	7,000	Amazon.com, Inc., 3.875%, 8/22/2037	$	7,048
	15,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		13,191

				20,239

		Technology — 0.9%
	11,000	Apple, Inc., 2.500%, 2/09/2025		10,902
	2,000	Broadcom, Inc., 3.137%, 11/15/2035, 144A		1,608
	6,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		5,688
	8,000	Intel Corp., 2.450%, 11/15/2029		7,375
	12,000	International Business Machines Corp., 4.000%, 6/20/2042		10,940
	9,000	NVIDIA Corp., 2.850%, 4/01/2030		8,587
	10,000	Oracle Corp., 2.950%, 5/15/2025		9,749
	14,000	QUALCOMM, Inc., 1.650%, 5/20/2032		11,857

				66,706

		Treasuries — 2.3%
	15,000	U.S. Treasury Bond, 2.250%, 5/15/2041		12,841
	18,000	U.S. Treasury Bond, 2.500%, 5/15/2046		15,602
	17,000	U.S. Treasury Bond, 2.875%, 11/15/2046		15,809
	21,000	U.S. Treasury Bond, 3.000%, 5/15/2045		19,896
	12,000	U.S. Treasury Bond, 3.000%, 2/15/2048		11,544
	21,000	U.S. Treasury Bond, 3.000%, 2/15/2049		20,474
	45,000	U.S. Treasury Note, 0.375%, 11/30/2025		41,537
	22,000	U.S. Treasury Note, 2.125%, 12/31/2022		21,938

				159,641

		Utility Other — 0.1%
	9,000	Essential Utilities, Inc., 4.276%, 5/01/2049		8,132

		Wireless — 0.2%
	11,000	Vodafone Group PLC, 6.150%, 2/27/2037		12,243

		Wirelines — 0.2%
	7,000	AT&T, Inc., 3.650%, 6/01/2051		5,703
	11,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		10,976

				16,679

		Total Bonds and Notes (Identified Cost $1,418,030)		1,292,631


Shares
	Exchange-Traded Funds — 5.1%
	5,413	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $410,830)		358,395


	Mutual Funds — 7.8%
	13,510	WCM Focused Emerging Markets Fund, Institutional Class		179,141
	17,509	WCM Focused International Growth Fund, Institutional Class		364,538

		Total Mutual Funds (Identified Cost $677,112)		543,679


	Affiliated Mutual Funds — 29.8%
	44,294	Loomis Sayles Inflation Protected Securities Fund, Class N		477,049
	53,803	Loomis Sayles Limited Term Government and Agency Fund, Class N		590,223
	73,077	Mirova Global Green Bond Fund, Class N		656,228
	32,335	Mirova International Sustainable Equity Fund, Class N		361,824

		Total Affiliated Mutual Funds (Identified Cost $2,302,261)		2,085,324


Principal Amount		Description	Value (†)
	Short-Term Investments — 2.5%
$	178,312	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $178,322 on 8/01/2022 collateralized by $181,300 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $182,221 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $178,312)	$	178,312


		Total Investments — 100.2% (Identified Cost $7,731,256)		7,011,679
		Other assets less liabilities — (0.2)%		(10,554	)

		Net Assets — 100.0%	$	7,001,125


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $13,983 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
	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, 2022 (Unaudited)


Equity	54.6	%
Fixed Income	43.1
Short-Term Investments	2.5

Total Investments	100.2
Other assets less liabilities	(0.2	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 34

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund


Shares		Description	Value (†)
	Common Stocks — 42.4% of Net Assets
		Aerospace & Defense — 0.7%
	199	AAR Corp.(a)	$	8,861
	42	Axon Enterprise, Inc.(a)		4,628
	387	Boeing Co. (The)(a)		61,653
	8	L3Harris Technologies, Inc.		1,920
	12	Lockheed Martin Corp.		4,966
	62	Moog, Inc., Class A		5,310
	8	Northrop Grumman Corp.		3,831
	116	Raytheon Technologies Corp.		10,812

				101,981

		Air Freight & Logistics — 0.2%
	201	Expeditors International of Washington, Inc.		21,356
	14	FedEx Corp.		3,264
	76	GXO Logistics, Inc.(a)		3,648
	25	United Parcel Service, Inc., Class B		4,872

				33,140

		Airlines — 0.1%
	186	Delta Air Lines, Inc.(a)		5,915
	619	JetBlue Airways Corp.(a)		5,212

				11,127

		Auto Components — 0.3%
	627	BorgWarner, Inc.		24,114
	417	Dana, Inc.		6,989
	75	Dorman Products, Inc.(a)		7,582
	56	Visteon Corp.(a)		7,145

				45,830

		Automobiles — 0.9%
	1,002	General Motors Co.(a)		36,333
	101	Tesla, Inc.(a)		90,036
	58	Thor Industries, Inc.		4,891

				131,260

		Banks — 1.9%
	308	Ameris Bancorp		14,565
	728	Bank of America Corp.		24,614
	289	Cadence Bank		7,543
	815	Citigroup, Inc.		42,298
	161	Citizens Financial Group, Inc.		6,113
	63	Fifth Third Bancorp		2,150
	1,404	FNB Corp.		16,792
	979	Fulton Financial Corp.		16,339
	167	Huntington Bancshares, Inc.		2,219
	264	International Bancshares Corp.		11,579
	58	JPMorgan Chase & Co.		6,691
	287	KeyCorp		5,252
	18	M&T Bank Corp.		3,194
	38	PNC Financial Services Group, Inc. (The)		6,306
	243	Regions Financial Corp.		5,147
	10	Signature Bank		1,856
	7	SVB Financial Group(a)		2,825
	282	Truist Financial Corp.		14,232
	408	Trustmark Corp.		13,248
	131	U.S. Bancorp		6,183
	248	Webster Financial Corp.		11,520
	718	Wells Fargo & Co.		31,499
	109	Wintrust Financial Corp.		9,378

				261,543

		Beverages — 0.9%
	49	Boston Beer Co., Inc. (The), Class A(a)		18,641
	263	Coca-Cola Co. (The)		16,877
		Beverages — continued
	46	Keurig Dr Pepper, Inc.		1,782
	716	Monster Beverage Corp.(a)		71,328
	65	PepsiCo, Inc.		11,372

				120,000

		Biotechnology — 1.3%
	108	AbbVie, Inc.		15,499
	230	Alnylam Pharmaceuticals, Inc.(a)		32,669
	47	Amgen, Inc.		11,631
	138	Arrowhead Pharmaceuticals, Inc.(a)		5,869
	36	Biogen, Inc.(a)		7,742
	181	BioMarin Pharmaceutical, Inc.(a)		15,575
	258	CRISPR Therapeutics AG(a)		19,350
	35	Gilead Sciences, Inc.		2,091
	172	Halozyme Therapeutics, Inc.(a)		8,411
	36	Moderna, Inc.(a)		5,907
	72	Neurocrine Biosciences, Inc.(a)		6,778
	83	Regeneron Pharmaceuticals, Inc.(a)		48,281

				179,803

		Building Products — 0.5%
	116	Builders FirstSource, Inc.(a)		7,888
	42	Carlisle Cos., Inc.		12,436
	81	Carrier Global Corp.		3,283
	44	Johnson Controls International PLC		2,372
	41	Lennox International, Inc.		9,821
	313	Masco Corp.		17,334
	127	Owens Corning		11,778
	81	Trex Co., Inc.(a)		5,226

				70,138

		Capital Markets — 2.6%
	16	Ameriprise Financial, Inc.		4,319
	609	Bank of New York Mellon Corp. (The)		26,467
	14	BlackRock, Inc.		9,368
	614	Charles Schwab Corp. (The)		42,397
	24	CME Group, Inc.		4,787
	63	FactSet Research Systems, Inc.		27,070
	92	Goldman Sachs Group, Inc. (The)		30,672
	262	Intercontinental Exchange, Inc.		26,721
	206	Janus Henderson Group PLC		5,309
	742	KKR & Co., Inc.		41,151
	90	Moody’s Corp.		27,922
	99	Morgan Stanley		8,346
	52	MSCI, Inc.		25,030
	27	Northern Trust Corp.		2,694
	58	S&P Global, Inc.		21,862
	397	SEI Investments Co.		21,978
	471	State Street Corp.		33,460
	40	Virtus Investment Partners, Inc.		8,253

				367,806

		Chemicals — 0.3%
	16	Air Products & Chemicals, Inc.		3,972
	40	DuPont de Nemours, Inc.		2,449
	112	HB Fuller Co.		7,190
	80	Innospec, Inc.		8,160
	26	Linde PLC		7,852
	95	Minerals Technologies, Inc.		6,347
	55	Stepan Co.		6,172

				42,142

		Commercial Services & Supplies — 0.3%
	59	MSA Safety, Inc.		7,572
	70	Tetra Tech, Inc.		10,729

See accompanying notes to financial statements.

35 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	119	Viad Corp.(a)	$	4,018
	96	Waste Management, Inc.		15,798

				38,117

		Communications Equipment — 0.1%
	136	Ciena Corp.(a)		7,018
	76	Lumentum Holdings, Inc.(a)		6,875

				13,893

		Construction & Engineering — 0.1%
	229	AECOM		16,488

		Consumer Finance — 0.7%
	1,276	Ally Financial, Inc.		42,197
	153	American Express Co.		23,565
	266	Capital One Financial Corp.		29,215
	158	Green Dot Corp., Class A(a)		4,440

				99,417

		Containers & Packaging — 0.1%
	31	Ball Corp.		2,276
	67	International Paper Co.		2,866
	190	Sonoco Products Co.		12,063

				17,205

		Distributors — 0.1%
	50	Genuine Parts Co.		7,643

		Diversified Consumer Services — 0.2%
	97	Grand Canyon Education, Inc.(a)		9,319
	143	Service Corp. International		10,648

				19,967

		Diversified Telecommunication Services — 0.1%
	161	AT&T, Inc.		3,024
	207	Lumen Technologies, Inc.		2,254
	94	Verizon Communications, Inc.		4,342

				9,620

		Electric Utilities — 0.4%
	144	American Electric Power Co., Inc.		14,193
	172	Edison International		11,656
	163	Eversource Energy		14,380
	76	IDACORP, Inc.		8,491
	121	NextEra Energy, Inc.		10,223

				58,943

		Electrical Equipment — 0.9%
	29	Acuity Brands, Inc.		5,290
	598	ChargePoint Holdings, Inc.(a)		9,036
	35	Eaton Corp. PLC		5,194
	40	Emerson Electric Co.		3,603
	1,198	Fluence Energy, Inc.(a)		16,460
	54	Hubbell, Inc.		11,827
	935	Plug Power, Inc.(a)		19,953
	58	Rockwell Automation, Inc.		14,806
	660	Shoals Technologies Group, Inc., Class A(a)		15,596
	825	Sunrun, Inc.(a)		26,969

				128,734

		Electronic Equipment, Instruments & Components — 0.4%
	239	Avnet, Inc.		11,441
	147	Cognex Corp.		7,494
	56	Corning, Inc.		2,058
	29	II-VI, Inc.(a)		1,527
	165	Itron, Inc.(a)		9,636
	12	Keysight Technologies, Inc.(a)		1,951
	30	Littelfuse, Inc.		8,366
		Electronic Equipment, Instruments & Components — continued
	70	TE Connectivity Ltd.		9,361

				51,834

		Energy Equipment & Services — 0.1%
	747	Archrock, Inc.		6,305
	83	Baker Hughes Co.		2,132
	327	ChampionX Corp.		6,831
	107	Schlumberger NV		3,962

				19,230

		Entertainment — 1.6%
	49	Activision Blizzard, Inc.		3,917
	116	Electronic Arts, Inc.		15,223
	432	Netflix, Inc.(a)		97,157
	164	Take-Two Interactive Software, Inc.(a)		21,768
	612	Walt Disney Co. (The)(a)		64,933
	831	Warner Bros Discovery, Inc.(a)		12,465

				215,463

		Food & Staples Retailing — 0.4%
	113	BJ’s Wholesale Club Holdings, Inc.(a)		7,650
	9	Costco Wholesale Corp.		4,872
	155	Kroger Co. (The)		7,198
	206	SpartanNash Co.		6,652
	264	Sprouts Farmers Market, Inc.(a)		7,297
	65	Sysco Corp.		5,519
	81	Walgreens Boots Alliance, Inc.		3,209
	43	Walmart, Inc.		5,678

				48,075

		Food Products — 0.3%
	96	Campbell Soup Co.		4,738
	254	Darling Ingredients, Inc.(a)		17,597
	67	General Mills, Inc.		5,011
	149	Hain Celestial Group, Inc. (The)(a)		3,390
	66	Hormel Foods Corp.		3,256
	76	Ingredion, Inc.		6,915
	19	J.M. Smucker Co. (The)		2,514
	34	Kellogg Co.		2,513
	20	McCormick & Co., Inc.		1,747

				47,681

		Gas Utilities — 0.1%
	261	New Jersey Resources Corp.		12,055
	87	ONE Gas, Inc.		7,390

				19,445

		Health Care Equipment & Supplies — 0.7%
	139	Abbott Laboratories		15,129
	28	Becton Dickinson & Co.		6,841
	9	Cooper Cos., Inc. (The)		2,943
	29	DexCom, Inc.(a)		2,380
	67	Edwards Lifesciences Corp.(a)		6,736
	80	Globus Medical, Inc., Class A(a)		4,695
	90	Haemonetics Corp.(a)		6,254
	36	Hologic, Inc.(a)		2,570
	79	Intuitive Surgical, Inc.(a)		18,184
	248	LeMaitre Vascular, Inc.		12,487
	40	Penumbra, Inc.(a)		5,575
	12	ResMed, Inc.		2,886
	38	Shockwave Medical, Inc.(a)		8,015
	10	STERIS PLC		2,257
	15	Stryker Corp.		3,221
	9	Teleflex, Inc.		2,164

				102,337

See accompanying notes to financial statements.

| 36

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 1.0%
	119	Acadia Healthcare Co., Inc.(a)	$	9,866
	27	Amedisys, Inc.(a)		3,236
	79	Centene Corp.(a)		7,345
	19	Chemed Corp.		9,141
	41	Cigna Corp.		11,290
	52	CVS Health Corp.		4,975
	30	Elevance Health, Inc.		14,313
	73	Encompass Health Corp.		3,695
	36	Enhabit, Inc.(a)		630
	159	HCA Healthcare, Inc.		33,775
	19	Humana, Inc.		9,158
	19	Quest Diagnostics, Inc.		2,595
	203	Select Medical Holdings Corp.		6,013
	109	Tenet Healthcare Corp.(a)		7,207
	29	UnitedHealth Group, Inc.		15,728

				138,967

		Health Care Technology — 0.5%
	363	Allscripts Healthcare Solutions, Inc.(a)		5,743
	797	Doximity, Inc., Class A(a)		33,729
	125	Veeva Systems, Inc., Class A(a)		27,947

				67,419

		Hotels, Restaurants & Leisure — 1.2%
	28	Booking Holdings, Inc.(a)		54,199
	45	Expedia Group, Inc.(a)		4,772
	107	Hilton Worldwide Holdings, Inc.		13,704
	89	Jack in the Box, Inc.		6,153
	28	McDonald’s Corp.		7,374
	373	Starbucks Corp.		31,623
	189	Travel & Leisure Co.		8,148
	428	Yum China Holdings, Inc.		20,848
	135	Yum! Brands, Inc.		16,543

				163,364

		Household Durables — 0.3%
	36	DR Horton, Inc.		2,809
	232	KB Home		7,572
	91	Meritage Homes Corp.(a)		8,035
	443	PulteGroup, Inc.		19,324
	321	Taylor Morrison Home Corp.(a)		9,213

				46,953

		Household Products — 0.3%
	253	Colgate-Palmolive Co.		19,921
	76	Kimberly-Clark Corp.		10,016
	126	Procter & Gamble Co. (The)		17,503

				47,440

		Independent Power & Renewable Electricity Producers — 0.2%
	115	AES Corp. (The)		2,555
	138	NextEra Energy Partners LP		11,418
	519	Sunnova Energy International, Inc.(a)		13,505

				27,478

		Industrial Conglomerates — 0.2%
	32	3M Co.		4,584
	234	General Electric Co.		17,295
	35	Honeywell International, Inc.		6,736

				28,615

		Insurance — 1.2%
	67	Aflac, Inc.		3,839
	38	Allstate Corp. (The)		4,445
	437	American International Group, Inc.		22,623
	38	Chubb Ltd.		7,168
		Insurance — continued
	133	First American Financial Corp.		7,714
	82	Hanover Insurance Group, Inc. (The)		11,191
	62	Marsh & McLennan Cos., Inc.		10,165
	297	Prudential Financial, Inc.		29,697
	220	Reinsurance Group of America, Inc.		25,472
	147	Selective Insurance Group, Inc.		11,445
	31	Travelers Cos., Inc. (The)		4,920
	140	Willis Towers Watson PLC		28,972

				167,651

		Interactive Media & Services — 1.9%
	540	Alphabet, Inc., Class A(a)		62,813
	567	Alphabet, Inc., Class C(a)		66,135
	570	Meta Platforms, Inc., Class A(a)		90,687
	1,445	Pinterest, Inc., Class A(a)		28,148
	283	Twitter, Inc.(a)		11,776

				259,559

		Internet & Direct Marketing Retail — 1.6%
	208	Alibaba Group Holding Ltd., Sponsored ADR(a)		18,589
	1,051	Amazon.com, Inc.(a)		141,832
	838	eBay, Inc.		40,752
	171	Etsy, Inc.(a)		17,736

				218,909

		IT Services — 2.2%
	15	Accenture PLC, Class A		4,594
	24	Automatic Data Processing, Inc.		5,787
	229	Block, Inc.(a)		17,418
	49	Cognizant Technology Solutions Corp., Class A		3,330
	54	Concentrix Corp.		7,223
	366	Fiserv, Inc.(a)		38,679
	98	Gartner, Inc.(a)		26,017
	205	Global Payments, Inc.		25,075
	48	International Business Machines Corp.		6,278
	98	Mastercard, Inc., Class A		34,671
	24	Paychex, Inc.		3,079
	283	PayPal Holdings, Inc.(a)		24,488
	55	Perficient, Inc.(a)		5,803
	408	Shopify, Inc., Class A(a)		14,211
	13	VeriSign, Inc.(a)		2,459
	373	Visa, Inc., Class A		79,117
	41	WEX, Inc.(a)		6,815

				305,044

		Leisure Products — 0.1%
	414	Mattel, Inc.(a)		9,605

		Life Sciences Tools & Services — 0.5%
	43	Agilent Technologies, Inc.		5,766
	38	Danaher Corp.		11,076
	119	Illumina, Inc.(a)		25,785
	9	IQVIA Holdings, Inc.(a)		2,162
	19	PerkinElmer, Inc.		2,910
	43	Repligen Corp.(a)		9,175
	16	Thermo Fisher Scientific, Inc.		9,575
	5	Waters Corp.(a)		1,820

				68,269

		Machinery — 1.0%
	58	AGCO Corp.		6,317
	28	Caterpillar, Inc.		5,551
	25	Chart Industries, Inc.(a)		4,877
	49	Cummins, Inc.		10,844
	60	Deere & Co.		20,591
	35	Illinois Tool Works, Inc.		7,272

See accompanying notes to financial statements.

37 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	129	ITT, Inc.	$	9,679
	105	Oshkosh Corp.		9,041
	193	PACCAR, Inc.		17,663
	109	Parker-Hannifin Corp.		31,511
	128	Terex Corp.		4,289
	116	Toro Co. (The)		9,975

				137,610

		Media — 0.8%
	7	Cable One, Inc.		9,637
	103	Charter Communications, Inc., Class A(a)		44,506
	1,066	Comcast Corp., Class A		39,996
	156	Interpublic Group of Cos., Inc. (The)		4,660
	140	New York Times Co. (The), Class A		4,473
	182	News Corp., Class A		3,120
	122	News Corp., Class B		2,108
	79	Omnicom Group, Inc.		5,517
	72	Paramount Global, Class B		1,703

				115,720

		Metals & Mining — 0.3%
	88	Alcoa Corp.		4,478
	247	Cleveland-Cliffs, Inc.(a)		4,374
	173	Commercial Metals Co.		6,854
	54	Newmont Corp.		2,445
	16	Nucor Corp.		2,173
	52	Reliance Steel & Aluminum Co.		9,893
	130	Steel Dynamics, Inc.		10,125

				40,342

		Multi-Utilities — 0.1%
	94	Consolidated Edison, Inc.		9,331
	38	DTE Energy Co.		4,951
	24	WEC Energy Group, Inc.		2,492

				16,774

		Multiline Retail — 0.1%
	115	Kohl’s Corp.		3,351
	280	Macy’s, Inc.		4,942
	51	Target Corp.		8,332

				16,625

		Oil, Gas & Consumable Fuels — 1.6%
	645	Antero Midstream Corp.		6,489
	1,057	APA Corp.		39,289
	86	Chevron Corp.		14,085
	432	CNX Resources Corp.(a)		7,461
	378	ConocoPhillips		36,828
	108	Diamondback Energy, Inc.		13,826
	430	EOG Resources, Inc.		47,825
	180	EQT Corp.		7,925
	183	Exxon Mobil Corp.		17,738
	132	HF Sinclair Corp.		6,312
	160	Kinder Morgan, Inc.		2,878
	149	Marathon Oil Corp.		3,695
	29	Occidental Petroleum Corp.		1,907
	223	Range Resources Corp.(a)		7,375
	846	Southwestern Energy Co.(a)		5,973
	32	Valero Energy Corp.		3,545

				223,151

		Paper & Forest Products — 0.0%
	78	Louisiana-Pacific Corp.		4,963

		Pharmaceuticals — 1.3%
	321	Bristol-Myers Squibb Co.		23,683
	32	Eli Lilly & Co.		10,550
		Pharmaceuticals — continued
	57	Jazz Pharmaceuticals PLC(a)		8,896
	106	Johnson & Johnson		18,499
	212	Merck & Co., Inc.		18,940
	443	Novartis AG, Sponsored ADR		38,023
	163	Novo Nordisk A/S, Sponsored ADR		18,918
	130	Perrigo Co. PLC		5,443
	236	Pfizer, Inc.		11,920
	661	Roche Holding AG, Sponsored ADR		27,412
	24	Zoetis, Inc.		4,381

				186,665

		Professional Services — 0.4%
	120	Equifax, Inc.		25,069
	106	Exponent, Inc.		10,652
	105	Korn Ferry		6,879
	62	ManpowerGroup, Inc.		4,861
	46	Verisk Analytics, Inc.		8,752

				56,213

		Real Estate Management & Development — 0.3%
	360	CBRE Group, Inc., Class A(a)		30,823
	53	Jones Lang LaSalle, Inc.(a)		10,106

				40,929

		REITs – Apartments — 0.3%
	193	American Campus Communities, Inc.		12,607
	77	AvalonBay Communities, Inc.		16,473
	68	Equity Residential		5,331
	21	Essex Property Trust, Inc.		6,017

				40,428

		REITs – Diversified — 0.4%
	551	American Assets Trust, Inc.		16,657
	45	American Tower Corp.		12,187
	37	Crown Castle International Corp.		6,684
	19	Digital Realty Trust, Inc.		2,517
	5	Equinix, Inc.		3,519
	139	VICI Properties, Inc.		4,752
	141	Weyerhaeuser Co.		5,121

				51,437

		REITs – Health Care — 0.2%
	48	Ventas, Inc.		2,581
	212	Welltower, Inc.		18,304

				20,885

		REITs – Hotels — 0.0%
	146	Host Hotels & Resorts, Inc.		2,600

		REITs – Mortgage — 0.1%
	211	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		7,615

		REITs – Office Property — 0.5%
	112	Alexandria Real Estate Equities, Inc.		18,567
	964	Brandywine Realty Trust		9,013
	473	Corporate Office Properties Trust		13,315
	320	Douglas Emmett, Inc.		7,565
	438	Easterly Government Properties, Inc.		8,878
	142	Kilroy Realty Corp.		7,694

				65,032

		REITs – Shopping Centers — 0.1%
	781	Brixmor Property Group, Inc.		18,104

		REITs – Warehouse/Industrials — 0.1%
	74	ProLogis, Inc.		9,809

See accompanying notes to financial statements.

| 38

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — 0.6%
	23	Avis Budget Group, Inc.(a)	$	4,187
	225	Canadian Pacific Railway Ltd.		17,746
	248	CSX Corp.		8,018
	90	Norfolk Southern Corp.		22,605
	82	Ryder System, Inc.		6,422
	94	Union Pacific Corp.		21,366

				80,344

		Semiconductors & Semiconductor Equipment — 2.0%
	105	Advanced Micro Devices, Inc.(a)		9,919
	33	Analog Devices, Inc.		5,675
	33	Broadcom, Inc.		17,671
	79	Cirrus Logic, Inc.(a)		6,751
	115	Enphase Energy, Inc.(a)		32,681
	66	First Solar, Inc.(a)		6,545
	173	Intel Corp.		6,282
	179	Lattice Semiconductor Corp.(a)		11,008
	62	Micron Technology, Inc.		3,835
	597	NVIDIA Corp.		108,433
	243	QUALCOMM, Inc.		35,250
	57	Silicon Laboratories, Inc.(a)		8,406
	35	Synaptics, Inc.(a)		5,073
	38	Texas Instruments, Inc.		6,798
	45	Universal Display Corp.		5,196
	79	Wolfspeed, Inc.(a)		6,581

				276,104

		Software — 3.3%
	58	Adobe, Inc.(a)		23,787
	16	ANSYS, Inc.(a)		4,464
	23	Aspen Technology, Inc.(a)		4,694
	286	Autodesk, Inc.(a)		61,867
	64	Blackbaud, Inc.(a)		3,924
	17	Citrix Systems, Inc.		1,724
	90	CommVault Systems, Inc.(a)		5,048
	18	Fair Isaac Corp.(a)		8,317
	84	Fortinet, Inc.(a)		5,011
	288	Microsoft Corp.		80,853
	105	NortonLifeLock, Inc.		2,576
	1,194	Oracle Corp.		92,941
	42	Paylocity Holding Corp.(a)		8,649
	56	Qualys, Inc.(a)		6,850
	472	Salesforce, Inc.(a)		86,857
	26	ServiceNow, Inc.(a)		11,613
	71	SPS Commerce, Inc.(a)		8,503
	276	Workday, Inc., Class A(a)		42,808

				460,486

		Specialty Retail — 0.6%
	26	Asbury Automotive Group, Inc.(a)		4,463
	2	AutoZone, Inc.(a)		4,275
	17	Best Buy Co., Inc.		1,309
	84	Boot Barn Holdings, Inc.(a)		5,233
	52	Five Below, Inc.(a)		6,608
	92	GameStop Corp., Class A(a)		3,129
	74	Home Depot, Inc. (The)		22,269
	25	Lithia Motors, Inc.		6,632
	49	Lowe’s Cos., Inc.		9,385
	67	TJX Cos., Inc. (The)		4,098
	10	Tractor Supply Co.		1,915
	5	Ulta Beauty, Inc.(a)		1,944
	56	Williams-Sonoma, Inc.		8,087

				79,347

		Technology Hardware, Storage & Peripherals — 0.0%
	177	Hewlett Packard Enterprise Co.		2,520
	99	HP, Inc.		3,306

				5,826

		Textiles, Apparel & Luxury Goods — 0.4%
	48	Crocs, Inc.(a)		3,439
	33	Deckers Outdoor Corp.(a)		10,336
	191	NIKE, Inc., Class B		21,950
	1,587	Under Armour, Inc., Class A(a)		14,695
	41	VF Corp.		1,832

				52,252

		Thrifts & Mortgage Finance — 0.2%
	1,254	MGIC Investment Corp.		17,732
	180	Mr. Cooper Group, Inc.(a)		8,109

				25,841

		Trading Companies & Distributors — 0.0%
	53	GATX Corp.		5,313

		Water Utilities — 0.2%
	84	American States Water Co.		7,322
	43	American Water Works Co., Inc.		6,684
	179	Essential Utilities, Inc.		9,297

				23,303

		Wireless Telecommunication Services — 0.0%
	29	T-Mobile US, Inc.(a)		4,149

		Total Common Stocks (Identified Cost $5,988,655)		5,896,002


Principal Amount
	Bonds and Notes — 15.6%
		Automotive — 0.3%
$	20,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		19,668
	8,000	Lear Corp., 4.250%, 5/15/2029		7,520
	12,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		10,748

				37,936

		Banking — 2.4%
	22,000	American Express Co., 3.700%, 8/03/2023		22,091
	24,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		23,178
	20,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		20,153
	13,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		12,991
	23,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		20,972
	22,000	Citigroup, Inc., 4.600%, 3/09/2026		22,399
	22,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		21,988
	23,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		22,667
	24,000	KeyCorp, MTN, 2.550%, 10/01/2029		21,331
	11,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		10,509
	12,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		12,023
	13,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		11,739
	21,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		20,210
	13,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		12,741
	13,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		12,864
	16,000	State Street Corp., 2.400%, 1/24/2030		14,415
	12,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		10,377

See accompanying notes to financial statements.

39 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Principal Amount		Description	Value (†)
		Banking — continued
$	23,000	Truist Bank, 3.200%, 4/01/2024	$	22,990
	24,000	Westpac Banking Corp., 2.350%, 2/19/2025		23,409

				339,047

		Brokerage — 0.3%
	22,000	BlackRock, Inc., 2.400%, 4/30/2030		19,986
	25,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		19,387

				39,373

		Building Materials — 0.3%
	13,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		11,925
	24,000	Owens Corning, 3.950%, 8/15/2029		22,876

				34,801

		Chemicals — 0.0%
	6,000	LYB International Finance BV, 5.250%, 7/15/2043		5,835

		Diversified Manufacturing — 0.2%
	21,000	3M Co., 3.050%, 4/15/2030		19,922
	13,000	Emerson Electric Co., 2.000%, 12/21/2028		11,865

				31,787

		Electric — 0.8%
	22,000	Duke Energy Corp., 3.750%, 4/15/2024		22,091
	25,000	Entergy Corp., 0.900%, 9/15/2025		22,767
	14,000	Exelon Corp., 4.050%, 4/15/2030		13,882
	24,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		21,113
	11,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		10,141
	5,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		4,326
	22,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		21,817

				116,137

		Environmental — 0.1%
	14,000	Republic Services, Inc., 1.450%, 2/15/2031		11,559
	8,000	Waste Management, Inc., 2.950%, 6/01/2041		6,518

				18,077

		Finance Companies — 0.2%
	14,000	Ares Capital Corp., 3.250%, 7/15/2025		13,202
	14,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		12,240

				25,442

		Food & Beverage — 0.5%
	24,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		22,369
	21,000	General Mills, Inc., 4.000%, 4/17/2025		21,264
	11,000	Mondelez International, Inc., 2.750%, 4/13/2030		10,033
	23,000	PepsiCo, Inc., 2.750%, 3/19/2030		21,923

				75,589

		Government Owned - No Guarantee — 0.4%
	18,000	Equinor ASA, 3.625%, 4/06/2040		16,515
	35,000	Federal National Mortgage Association, 6.625%, 11/15/2030		44,310

				60,825

		Health Insurance — 0.3%
	19,000	Elevance Health, Inc., 4.101%, 3/01/2028		19,266
	15,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		17,616

				36,882

		Healthcare — 0.5%
	10,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		10,215
	24,000	Cigna Corp., 3.750%, 7/15/2023		24,042
	6,000	CVS Health Corp., 4.300%, 3/25/2028		6,099
	12,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		11,617
		Healthcare — continued
$	12,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027	$	11,897
	11,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		10,076

				73,946

		Integrated Energy — 0.3%
	25,000	Exxon Mobil Corp., 2.992%, 3/19/2025		24,901
	16,000	Shell International Finance BV, 6.375%, 12/15/2038		19,262

				44,163

		Life Insurance — 0.0%
	6,000	Athene Holding Ltd., 6.150%, 4/03/2030		6,220

		Mortgage Related — 3.5%
	76,982	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		71,860
	35,590	FHLMC, 3.000%, with various maturities from 2049 to 2052(b)		34,302
	65,050	FHLMC, 3.500%, 5/01/2052		64,413
	92,278	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		83,195
	83,844	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		78,353
	90,986	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		87,985
	62,071	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		61,554
	2,547	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		2,576
	2,656	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		2,727

				486,965

		Natural Gas — 0.2%
	25,000	NiSource, Inc., 0.950%, 8/15/2025		22,883

		Pharmaceuticals — 0.4%
	23,000	AbbVie, Inc., 3.600%, 5/14/2025		23,004
	10,000	Biogen, Inc., 2.250%, 5/01/2030		8,544
	14,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		13,864
	9,000	Viatris, Inc., 3.850%, 6/22/2040		6,567

				51,979

		Property & Casualty Insurance — 0.0%
	6,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		5,390

		Railroads — 0.2%
	21,000	CSX Corp., 2.600%, 11/01/2026		20,412

		REITs – Apartments — 0.1%
	12,000	Essex Portfolio LP, 3.000%, 1/15/2030		10,837

		REITs – Health Care — 0.1%
	12,000	Welltower, Inc., 2.800%, 6/01/2031		10,407

		REITs – Office Property — 0.4%
	24,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		23,876
	12,000	Boston Properties LP, 2.750%, 10/01/2026		11,382
	23,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		19,512

				54,770

		REITs – Single Tenant — 0.1%
	8,000	Realty Income Corp., 3.400%, 1/15/2028		7,737
	6,000	Spirit Realty LP, 2.700%, 2/15/2032		4,834

				12,571

		REITs – Warehouse/Industrials — 0.1%
	14,000	Prologis LP, 1.250%, 10/15/2030		11,523

		Restaurants — 0.1%
	22,000	Starbucks Corp., 2.250%, 3/12/2030		19,341

See accompanying notes to financial statements.

| 40

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2030 Fund – (continued)


Principal Amount		Description	Value (†)
		Retailers — 0.3%
$	13,000	Amazon.com, Inc., 3.875%, 8/22/2037	$	13,090
	27,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		23,743

				36,833

		Technology — 0.9%
	19,000	Apple, Inc., 2.500%, 2/09/2025		18,830
	12,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		11,376
	14,000	Intel Corp., 2.450%, 11/15/2029		12,907
	23,000	International Business Machines Corp., 4.000%, 6/20/2042		20,968
	13,000	NVIDIA Corp., 2.850%, 4/01/2030		12,404
	22,000	Oracle Corp., 2.950%, 5/15/2025		21,448
	24,000	QUALCOMM, Inc., 1.650%, 5/20/2032		20,326

				118,259

		Treasuries — 2.1%
	23,000	U.S. Treasury Bond, 2.250%, 5/15/2041		19,689
	20,000	U.S. Treasury Bond, 2.500%, 5/15/2046		17,335
	47,000	U.S. Treasury Bond, 2.875%, 11/15/2046		43,708
	51,000	U.S. Treasury Bond, 3.000%, 5/15/2045		48,319
	29,000	U.S. Treasury Bond, 3.000%, 2/15/2048		27,898
	35,000	U.S. Treasury Bond, 3.000%, 2/15/2049		34,124
	89,000	U.S. Treasury Note, 0.375%, 11/30/2025		82,151
	22,000	U.S. Treasury Note, 2.125%, 12/31/2022		21,938

				295,162

		Utility Other — 0.1%
	15,000	Essential Utilities, Inc., 4.276%, 5/01/2049		13,554

		Wireless — 0.2%
	20,000	Vodafone Group PLC, 6.150%, 2/27/2037		22,260

		Wirelines — 0.2%
	10,000	AT&T, Inc., 3.650%, 6/01/2051		8,147
	20,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		19,957

				28,104

		Total Bonds and Notes (Identified Cost $2,358,391)		2,167,310


Shares
	Exchange-Traded Funds — 5.8%
	12,114	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $891,166)		802,068


	Mutual Funds — 9.3%
	35,056	WCM Focused Emerging Markets Fund, Institutional Class		464,836
	40,078	WCM Focused International Growth Fund, Institutional Class		834,432

		Total Mutual Funds (Identified Cost $1,584,896)		1,299,268


	Affiliated Mutual Funds — 23.8%
	62,327	Loomis Sayles Inflation Protected Securities Fund, Class N		671,261
	70,962	Loomis Sayles Limited Term Government and Agency Fund, Class N		778,450
	117,015	Mirova Global Green Bond Fund, Class N		1,050,795
	73,087	Mirova International Sustainable Equity Fund, Class N		817,846

		Total Affiliated Mutual Funds (Identified Cost $3,706,562)		3,318,352


Principal Amount		Description	Value (†)
	Short-Term Investments — 3.2%
$	446,691	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $446,715 on 8/01/2022 collateralized by $453,700 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $456,004 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $446,691)	$	446,691


		Total Investments — 100.1% (Identified Cost $14,976,361)		13,929,691
		Other assets less liabilities — (0.1)%		(9,872	)

		Net Assets — 100.0%	$	13,919,819


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $21,885 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
	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, 2022 (Unaudited)


Equity	63.4	%
Fixed Income	33.5
Short-Term Investments	3.2

Total Investments	100.1
Other assets less liabilities	(0.1	)

Net Assets	100.0	%

See accompanying notes to financial statements.

41 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund


Shares		Description	Value (†)
	Common Stocks — 48.6% of Net Assets
		Aerospace & Defense — 0.8%
	237	AAR Corp.(a)	$	10,554
	53	Axon Enterprise, Inc.(a)		5,840
	463	Boeing Co. (The)(a)		73,761
	9	L3Harris Technologies, Inc.		2,160
	15	Lockheed Martin Corp.		6,207
	71	Moog, Inc., Class A		6,080
	9	Northrop Grumman Corp.		4,310
	145	Raytheon Technologies Corp.		13,515

				122,427

		Air Freight & Logistics — 0.3%
	238	Expeditors International of Washington, Inc.		25,287
	17	FedEx Corp.		3,963
	87	GXO Logistics, Inc.(a)		4,176
	31	United Parcel Service, Inc., Class B		6,042

				39,468

		Airlines — 0.1%
	225	Delta Air Lines, Inc.(a)		7,155
	710	JetBlue Airways Corp.(a)		5,978

				13,133

		Auto Components — 0.4%
	765	BorgWarner, Inc.		29,422
	519	Dana, Inc.		8,698
	90	Dorman Products, Inc.(a)		9,098
	70	Visteon Corp.(a)		8,931

				56,149

		Automobiles — 1.1%
	1,278	General Motors Co.(a)		46,340
	122	Tesla, Inc.(a)		108,757
	67	Thor Industries, Inc.		5,650

				160,747

		Banks — 2.2%
	365	Ameris Bancorp		17,261
	863	Bank of America Corp.		29,178
	359	Cadence Bank		9,370
	991	Citigroup, Inc.		51,433
	183	Citizens Financial Group, Inc.		6,949
	70	Fifth Third Bancorp		2,388
	1,665	FNB Corp.		19,913
	1,161	Fulton Financial Corp.		19,377
	201	Huntington Bancshares, Inc.		2,671
	313	International Bancshares Corp.		13,728
	71	JPMorgan Chase & Co.		8,191
	328	KeyCorp		6,002
	22	M&T Bank Corp.		3,904
	47	PNC Financial Services Group, Inc. (The)		7,799
	288	Regions Financial Corp.		6,100
	11	Signature Bank		2,041
	9	SVB Financial Group(a)		3,632
	370	Truist Financial Corp.		18,674
	484	Trustmark Corp.		15,716
	198	U.S. Bancorp		9,346
	295	Webster Financial Corp.		13,703
	876	Wells Fargo & Co.		38,430
	129	Wintrust Financial Corp.		11,099

				316,905

		Beverages — 1.0%
	58	Boston Beer Co., Inc. (The), Class A(a)		22,065
	326	Coca-Cola Co. (The)		20,920
	54	Keurig Dr Pepper, Inc.		2,092
		Beverages — continued
	849	Monster Beverage Corp.(a)		84,577
	81	PepsiCo, Inc.		14,172

				143,826

		Biotechnology — 1.5%
	132	AbbVie, Inc.		18,943
	272	Alnylam Pharmaceuticals, Inc.(a)		38,635
	55	Amgen, Inc.		13,611
	172	Arrowhead Pharmaceuticals, Inc.(a)		7,315
	43	Biogen, Inc.(a)		9,247
	214	BioMarin Pharmaceutical, Inc.(a)		18,415
	308	CRISPR Therapeutics AG(a)		23,100
	49	Gilead Sciences, Inc.		2,928
	204	Halozyme Therapeutics, Inc.(a)		9,976
	43	Moderna, Inc.(a)		7,056
	90	Neurocrine Biosciences, Inc.(a)		8,472
	103	Regeneron Pharmaceuticals, Inc.(a)		59,914

				217,612

		Building Products — 0.6%
	140	Builders FirstSource, Inc.(a)		9,520
	51	Carlisle Cos., Inc.		15,101
	92	Carrier Global Corp.		3,729
	51	Johnson Controls International PLC		2,749
	50	Lennox International, Inc.		11,977
	372	Masco Corp.		20,601
	151	Owens Corning		14,004
	93	Trex Co., Inc.(a)		6,000

				83,681

		Capital Markets — 3.0%
	20	Ameriprise Financial, Inc.		5,398
	718	Bank of New York Mellon Corp. (The)		31,204
	16	BlackRock, Inc.		10,707
	734	Charles Schwab Corp. (The)		50,683
	29	CME Group, Inc.		5,785
	75	FactSet Research Systems, Inc.		32,226
	112	Goldman Sachs Group, Inc. (The)		37,340
	321	Intercontinental Exchange, Inc.		32,739
	236	Janus Henderson Group PLC		6,082
	944	KKR & Co., Inc.		52,354
	107	Moody’s Corp.		33,197
	115	Morgan Stanley		9,694
	62	MSCI, Inc.		29,843
	29	Northern Trust Corp.		2,894
	69	S&P Global, Inc.		26,008
	470	SEI Investments Co.		26,019
	554	State Street Corp.		39,356
	50	Virtus Investment Partners, Inc.		10,316

				441,845

		Chemicals — 0.4%
	20	Air Products & Chemicals, Inc.		4,965
	40	DuPont de Nemours, Inc.		2,449
	139	HB Fuller Co.		8,924
	98	Innospec, Inc.		9,996
	32	Linde PLC		9,664
	118	Minerals Technologies, Inc.		7,883
	68	Stepan Co.		7,630

				51,511

		Commercial Services & Supplies — 0.3%
	71	MSA Safety, Inc.		9,112
	83	Tetra Tech, Inc.		12,721
	137	Viad Corp.(a)		4,627
	116	Waste Management, Inc.		19,089

				45,549

See accompanying notes to financial statements.

| 42

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.1%
	170	Ciena Corp.(a)	$	8,772
	95	Lumentum Holdings, Inc.(a)		8,594

				17,366

		Construction & Engineering — 0.1%
	272	AECOM		19,584

		Consumer Finance — 0.8%
	1,558	Ally Financial, Inc.		51,523
	183	American Express Co.		28,186
	322	Capital One Financial Corp.		35,365
	182	Green Dot Corp., Class A(a)		5,114

				120,188

		Containers & Packaging — 0.1%
	33	Ball Corp.		2,423
	78	International Paper Co.		3,336
	226	Sonoco Products Co.		14,349

				20,108

		Distributors — 0.1%
	61	Genuine Parts Co.		9,325

		Diversified Consumer Services — 0.2%
	117	Grand Canyon Education, Inc.(a)		11,240
	170	Service Corp. International		12,658

				23,898

		Diversified Telecommunication Services — 0.1%
	190	AT&T, Inc.		3,568
	219	Lumen Technologies, Inc.		2,385
	111	Verizon Communications, Inc.		5,127

				11,080

		Electric Utilities — 0.5%
	180	American Electric Power Co., Inc.		17,741
	204	Edison International		13,825
	226	Eversource Energy		19,938
	93	IDACORP, Inc.		10,390
	143	NextEra Energy, Inc.		12,082

				73,976

		Electrical Equipment — 1.0%
	37	Acuity Brands, Inc.		6,749
	689	ChargePoint Holdings, Inc.(a)		10,411
	44	Eaton Corp. PLC		6,529
	45	Emerson Electric Co.		4,053
	1,421	Fluence Energy, Inc.(a)		19,524
	64	Hubbell, Inc.		14,017
	1,108	Plug Power, Inc.(a)		23,645
	68	Rockwell Automation, Inc.		17,359
	779	Shoals Technologies Group, Inc., Class A(a)		18,408
	985	Sunrun, Inc.(a)		32,200

				152,895

		Electronic Equipment, Instruments & Components — 0.4%
	284	Avnet, Inc.		13,595
	183	Cognex Corp.		9,329
	60	Corning, Inc.		2,206
	32	II-VI, Inc.(a)		1,685
	196	Itron, Inc.(a)		11,446
	14	Keysight Technologies, Inc.(a)		2,276
	36	Littelfuse, Inc.		10,039
	83	TE Connectivity Ltd.		11,100

				61,676

		Energy Equipment & Services — 0.2%
	929	Archrock, Inc.		7,841
	91	Baker Hughes Co.		2,338
	406	ChampionX Corp.		8,481
	133	Schlumberger NV		4,925

				23,585

		Entertainment — 1.8%
	61	Activision Blizzard, Inc.		4,877
	137	Electronic Arts, Inc.		17,978
	528	Netflix, Inc.(a)		118,747
	200	Take-Two Interactive Software, Inc.(a)		26,546
	727	Walt Disney Co. (The)(a)		77,135
	1,212	Warner Bros Discovery, Inc.(a)		18,180

				263,463

		Food & Staples Retailing — 0.4%
	138	BJ’s Wholesale Club Holdings, Inc.(a)		9,343
	11	Costco Wholesale Corp.		5,954
	174	Kroger Co. (The)		8,081
	257	SpartanNash Co.		8,298
	330	Sprouts Farmers Market, Inc.(a)		9,121
	77	Sysco Corp.		6,537
	102	Walgreens Boots Alliance, Inc.		4,041
	52	Walmart, Inc.		6,867

				58,242

		Food Products — 0.4%
	113	Campbell Soup Co.		5,577
	336	Darling Ingredients, Inc.(a)		23,278
	82	General Mills, Inc.		6,133
	171	Hain Celestial Group, Inc. (The)(a)		3,890
	70	Hormel Foods Corp.		3,454
	93	Ingredion, Inc.		8,461
	23	J.M. Smucker Co. (The)		3,043
	43	Kellogg Co.		3,179
	23	McCormick & Co., Inc.		2,009

				59,024

		Gas Utilities — 0.2%
	310	New Jersey Resources Corp.		14,319
	106	ONE Gas, Inc.		9,004

				23,323

		Health Care Equipment & Supplies — 0.8%
	164	Abbott Laboratories		17,850
	35	Becton Dickinson & Co.		8,551
	12	Cooper Cos., Inc. (The)		3,924
	34	DexCom, Inc.(a)		2,791
	81	Edwards Lifesciences Corp.(a)		8,144
	92	Globus Medical, Inc., Class A(a)		5,399
	104	Haemonetics Corp.(a)		7,227
	42	Hologic, Inc.(a)		2,998
	95	Intuitive Surgical, Inc.(a)		21,866
	294	LeMaitre Vascular, Inc.		14,803
	50	Penumbra, Inc.(a)		6,969
	14	ResMed, Inc.		3,367
	45	Shockwave Medical, Inc.(a)		9,492
	11	STERIS PLC		2,482
	18	Stryker Corp.		3,865
	10	Teleflex, Inc.		2,405

				122,133

		Health Care Providers & Services — 1.2%
	142	Acadia Healthcare Co., Inc.(a)		11,773
	34	Amedisys, Inc.(a)		4,075
	125	Centene Corp.(a)		11,621

See accompanying notes to financial statements.

43 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	23	Chemed Corp.	$	11,065
	50	Cigna Corp.		13,768
	66	CVS Health Corp.		6,315
	37	Elevance Health, Inc.		17,653
	84	Encompass Health Corp.		4,252
	42	Enhabit, Inc.(a)		735
	194	HCA Healthcare, Inc.		41,210
	22	Humana, Inc.		10,604
	24	Quest Diagnostics, Inc.		3,278
	233	Select Medical Holdings Corp.		6,902
	136	Tenet Healthcare Corp.(a)		8,992
	39	UnitedHealth Group, Inc.		21,151

				173,394

		Health Care Technology — 0.5%
	415	Allscripts Healthcare Solutions, Inc.(a)		6,565
	952	Doximity, Inc., Class A(a)		40,289
	150	Veeva Systems, Inc., Class A(a)		33,537

				80,391

		Hotels, Restaurants & Leisure — 1.4%
	35	Booking Holdings, Inc.(a)		67,749
	54	Expedia Group, Inc.(a)		5,727
	127	Hilton Worldwide Holdings, Inc.		16,265
	111	Jack in the Box, Inc.		7,674
	34	McDonald’s Corp.		8,955
	437	Starbucks Corp.		37,049
	235	Travel & Leisure Co.		10,131
	508	Yum China Holdings, Inc.		24,745
	160	Yum! Brands, Inc.		19,606

				197,901

		Household Durables — 0.4%
	43	DR Horton, Inc.		3,355
	289	KB Home		9,433
	113	Meritage Homes Corp.(a)		9,978
	541	PulteGroup, Inc.		23,598
	381	Taylor Morrison Home Corp.(a)		10,935

				57,299

		Household Products — 0.4%
	304	Colgate-Palmolive Co.		23,937
	91	Kimberly-Clark Corp.		11,993
	152	Procter & Gamble Co. (The)		21,114

				57,044

		Independent Power & Renewable Electricity Producers — 0.2%
	126	AES Corp. (The)		2,800
	164	NextEra Energy Partners LP		13,569
	615	Sunnova Energy International, Inc.(a)		16,002

				32,371

		Industrial Conglomerates — 0.2%
	39	3M Co.		5,586
	277	General Electric Co.		20,473
	43	Honeywell International, Inc.		8,276

				34,335

		Insurance — 1.4%
	81	Aflac, Inc.		4,641
	45	Allstate Corp. (The)		5,264
	519	American International Group, Inc.		26,869
	47	Chubb Ltd.		8,866
	163	First American Financial Corp.		9,454
	98	Hanover Insurance Group, Inc. (The)		13,374
	76	Marsh & McLennan Cos., Inc.		12,461
		Insurance — continued
	355	Prudential Financial, Inc.		35,496
	261	Reinsurance Group of America, Inc.		30,218
	174	Selective Insurance Group, Inc.		13,548
	39	Travelers Cos., Inc. (The)		6,189
	171	Willis Towers Watson PLC		35,387

				201,767

		Interactive Media & Services — 2.1%
	600	Alphabet, Inc., Class A(a)		69,792
	700	Alphabet, Inc., Class C(a)		81,648
	696	Meta Platforms, Inc., Class A(a)		110,734
	1,761	Pinterest, Inc., Class A(a)		34,304
	334	Twitter, Inc.(a)		13,898

				310,376

		Internet & Direct Marketing Retail — 1.8%
	247	Alibaba Group Holding Ltd., Sponsored ADR(a)		22,074
	1,259	Amazon.com, Inc.(a)		169,902
	1,008	eBay, Inc.		49,019
	211	Etsy, Inc.(a)		21,885

				262,880

		IT Services — 2.5%
	19	Accenture PLC, Class A		5,819
	29	Automatic Data Processing, Inc.		6,992
	273	Block, Inc.(a)		20,764
	61	Cognizant Technology Solutions Corp., Class A		4,145
	66	Concentrix Corp.		8,828
	447	Fiserv, Inc.(a)		47,239
	118	Gartner, Inc.(a)		31,327
	259	Global Payments, Inc.		31,681
	59	International Business Machines Corp.		7,717
	124	Mastercard, Inc., Class A		43,870
	28	Paychex, Inc.		3,592
	339	PayPal Holdings, Inc.(a)		29,334
	69	Perficient, Inc.(a)		7,281
	495	Shopify, Inc., Class A(a)		17,241
	16	VeriSign, Inc.(a)		3,027
	452	Visa, Inc., Class A		95,874
	50	WEX, Inc.(a)		8,310

				373,041

		Leisure Products — 0.1%
	492	Mattel, Inc.(a)		11,414

		Life Sciences Tools & Services — 0.6%
	51	Agilent Technologies, Inc.		6,839
	49	Danaher Corp.		14,282
	142	Illumina, Inc.(a)		30,768
	11	IQVIA Holdings, Inc.(a)		2,643
	21	PerkinElmer, Inc.		3,217
	52	Repligen Corp.(a)		11,095
	20	Thermo Fisher Scientific, Inc.		11,968
	7	Waters Corp.(a)		2,548

				83,360

		Machinery — 1.1%
	72	AGCO Corp.		7,842
	35	Caterpillar, Inc.		6,939
	31	Chart Industries, Inc.(a)		6,048
	59	Cummins, Inc.		13,057
	71	Deere & Co.		24,366
	40	Illinois Tool Works, Inc.		8,310
	157	ITT, Inc.		11,780
	127	Oshkosh Corp.		10,935
	229	PACCAR, Inc.		20,958

See accompanying notes to financial statements.

| 44

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	137	Parker-Hannifin Corp.	$	39,605
	147	Terex Corp.		4,926
	137	Toro Co. (The)		11,781

				166,547

		Media — 1.0%
	8	Cable One, Inc.		11,013
	125	Charter Communications, Inc., Class A(a)		54,012
	1,286	Comcast Corp., Class A		48,251
	237	Interpublic Group of Cos., Inc. (The)		7,079
	160	New York Times Co. (The), Class A		5,112
	213	News Corp., Class A		3,651
	142	News Corp., Class B		2,454
	94	Omnicom Group, Inc.		6,565
	75	Paramount Global, Class B		1,774

				139,911

		Metals & Mining — 0.3%
	101	Alcoa Corp.		5,140
	283	Cleveland-Cliffs, Inc.(a)		5,012
	216	Commercial Metals Co.		8,558
	64	Newmont Corp.		2,898
	20	Nucor Corp.		2,716
	64	Reliance Steel & Aluminum Co.		12,176
	155	Steel Dynamics, Inc.		12,071

				48,571

		Multi-Utilities — 0.1%
	114	Consolidated Edison, Inc.		11,317
	46	DTE Energy Co.		5,994
	28	WEC Energy Group, Inc.		2,906

				20,217

		Multiline Retail — 0.1%
	130	Kohl’s Corp.		3,788
	321	Macy’s, Inc.		5,666
	61	Target Corp.		9,966

				19,420

		Oil, Gas & Consumable Fuels — 1.9%
	795	Antero Midstream Corp.		7,998
	1,293	APA Corp.		48,061
	106	Chevron Corp.		17,361
	522	CNX Resources Corp.(a)		9,015
	462	ConocoPhillips		45,013
	129	Diamondback Energy, Inc.		16,515
	526	EOG Resources, Inc.		58,502
	225	EQT Corp.		9,907
	226	Exxon Mobil Corp.		21,906
	157	HF Sinclair Corp.		7,508
	182	Kinder Morgan, Inc.		3,274
	185	Marathon Oil Corp.		4,588
	42	Occidental Petroleum Corp.		2,761
	278	Range Resources Corp.(a)		9,193
	970	Southwestern Energy Co.(a)		6,848
	41	Valero Energy Corp.		4,541

				272,991

		Paper & Forest Products — 0.0%
	97	Louisiana-Pacific Corp.		6,172

		Pharmaceuticals — 1.5%
	383	Bristol-Myers Squibb Co.		28,258
	40	Eli Lilly & Co.		13,188
	68	Jazz Pharmaceuticals PLC(a)		10,612
	128	Johnson & Johnson		22,338
	252	Merck & Co., Inc.		22,514
		Pharmaceuticals — continued
	524	Novartis AG, Sponsored ADR		44,975
	194	Novo Nordisk A/S, Sponsored ADR		22,516
	154	Perrigo Co. PLC		6,448
	293	Pfizer, Inc.		14,799
	783	Roche Holding AG, Sponsored ADR		32,471
	31	Zoetis, Inc.		5,659

				223,778

		Professional Services — 0.5%
	147	Equifax, Inc.		30,710
	126	Exponent, Inc.		12,662
	130	Korn Ferry		8,516
	71	ManpowerGroup, Inc.		5,567
	47	Verisk Analytics, Inc.		8,942

				66,397

		Real Estate Management & Development — 0.4%
	455	CBRE Group, Inc., Class A(a)		38,957
	65	Jones Lang LaSalle, Inc.(a)		12,394

				51,351

		REITs – Apartments — 0.4%
	230	American Campus Communities, Inc.		15,024
	105	AvalonBay Communities, Inc.		22,464
	79	Equity Residential		6,193
	35	Essex Property Trust, Inc.		10,028

				53,709

		REITs – Diversified — 0.4%
	678	American Assets Trust, Inc.		20,496
	52	American Tower Corp.		14,083
	45	Crown Castle International Corp.		8,130
	19	Digital Realty Trust, Inc.		2,517
	5	Equinix, Inc.		3,519
	163	VICI Properties, Inc.		5,573
	161	Weyerhaeuser Co.		5,847

				60,165

		REITs – Health Care — 0.2%
	53	Ventas, Inc.		2,850
	253	Welltower, Inc.		21,844

				24,694

		REITs – Hotels — 0.0%
	159	Host Hotels & Resorts, Inc.		2,832

		REITs – Mortgage — 0.1%
	249	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		8,986

		REITs – Office Property — 0.5%
	133	Alexandria Real Estate Equities, Inc.		22,049
	1,143	Brandywine Realty Trust		10,687
	561	Corporate Office Properties Trust		15,792
	398	Douglas Emmett, Inc.		9,409
	520	Easterly Government Properties, Inc.		10,540
	177	Kilroy Realty Corp.		9,590

				78,067

		REITs – Shopping Centers — 0.1%
	926	Brixmor Property Group, Inc.		21,465

		REITs – Warehouse/Industrials — 0.1%
	89	ProLogis, Inc.		11,798

		Road & Rail — 0.7%
	27	Avis Budget Group, Inc.(a)		4,915
	269	Canadian Pacific Railway Ltd.		21,216
	289	CSX Corp.		9,343

See accompanying notes to financial statements.

45 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — continued
	116	Norfolk Southern Corp.	$	29,136
	102	Ryder System, Inc.		7,989
	111	Union Pacific Corp.		25,230

				97,829

		Semiconductors & Semiconductor Equipment — 2.2%
	123	Advanced Micro Devices, Inc.(a)		11,620
	40	Analog Devices, Inc.		6,878
	40	Broadcom, Inc.		21,419
	91	Cirrus Logic, Inc.(a)		7,777
	136	Enphase Energy, Inc.(a)		38,648
	76	First Solar, Inc.(a)		7,537
	209	Intel Corp.		7,589
	217	Lattice Semiconductor Corp.(a)		13,346
	77	Micron Technology, Inc.		4,763
	707	NVIDIA Corp.		128,412
	288	QUALCOMM, Inc.		41,777
	68	Silicon Laboratories, Inc.(a)		10,029
	43	Synaptics, Inc.(a)		6,233
	46	Texas Instruments, Inc.		8,229
	56	Universal Display Corp.		6,466
	91	Wolfspeed, Inc.(a)		7,580

				328,303

		Software — 3.8%
	71	Adobe, Inc.(a)		29,119
	19	ANSYS, Inc.(a)		5,301
	26	Aspen Technology, Inc.(a)		5,306
	339	Autodesk, Inc.(a)		73,333
	79	Blackbaud, Inc.(a)		4,844
	20	Citrix Systems, Inc.		2,028
	113	CommVault Systems, Inc.(a)		6,338
	21	Fair Isaac Corp.(a)		9,703
	99	Fortinet, Inc.(a)		5,905
	349	Microsoft Corp.		97,978
	124	NortonLifeLock, Inc.		3,042
	1,481	Oracle Corp.		115,281
	53	Paylocity Holding Corp.(a)		10,914
	70	Qualys, Inc.(a)		8,562
	565	Salesforce, Inc.(a)		103,971
	36	ServiceNow, Inc.(a)		16,080
	84	SPS Commerce, Inc.(a)		10,060
	328	Workday, Inc., Class A(a)		50,873

				558,638

		Specialty Retail — 0.7%
	29	Asbury Automotive Group, Inc.(a)		4,978
	3	AutoZone, Inc.(a)		6,412
	21	Best Buy Co., Inc.		1,617
	105	Boot Barn Holdings, Inc.(a)		6,541
	65	Five Below, Inc.(a)		8,260
	116	GameStop Corp., Class A(a)		3,945
	86	Home Depot, Inc. (The)		25,881
	30	Lithia Motors, Inc.		7,958
	67	Lowe’s Cos., Inc.		12,832
	85	TJX Cos., Inc. (The)		5,199
	10	Tractor Supply Co.		1,915
	6	Ulta Beauty, Inc.(a)		2,333
	68	Williams-Sonoma, Inc.		9,821

				97,692

		Technology Hardware, Storage & Peripherals — 0.0%
	192	Hewlett Packard Enterprise Co.		2,734
	117	HP, Inc.		3,907

				6,641

		Textiles, Apparel & Luxury Goods — 0.4%
	55	Crocs, Inc.(a)		3,940
	39	Deckers Outdoor Corp.(a)		12,215
	226	NIKE, Inc., Class B		25,972
	1,894	Under Armour, Inc., Class A(a)		17,538
	48	VF Corp.		2,145

				61,810

		Thrifts & Mortgage Finance — 0.2%
	1,487	MGIC Investment Corp.		21,026
	225	Mr. Cooper Group, Inc.(a)		10,136

				31,162

		Trading Companies & Distributors — 0.0%
	61	GATX Corp.		6,115

		Water Utilities — 0.2%
	100	American States Water Co.		8,717
	53	American Water Works Co., Inc.		8,238
	217	Essential Utilities, Inc.		11,271

				28,226

		Wireless Telecommunication Services — 0.0%
	35	T-Mobile US, Inc.(a)		5,007

		Total Common Stocks (Identified Cost $7,225,711)		7,126,786


Principal Amount
	Bonds and Notes — 11.3%
		Automotive — 0.2%
$	14,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		13,767
	6,000	Lear Corp., 4.250%, 5/15/2029		5,640
	11,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		9,853

				29,260

		Banking — 1.6%
	16,000	American Express Co., 3.700%, 8/03/2023		16,066
	16,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		15,452
	12,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		12,091
	8,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		7,994
	19,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		17,325
	13,000	Citigroup, Inc., 4.600%, 3/09/2026		13,236
	19,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		18,990
	14,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		13,797
	16,000	KeyCorp, MTN, 2.550%, 10/01/2029		14,221
	7,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		6,687
	7,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		7,014
	8,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		7,224
	16,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		15,398
	8,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		7,841
	9,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		8,906
	12,000	State Street Corp., 2.400%, 1/24/2030		10,811
	8,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		6,918
	16,000	Truist Bank, 3.200%, 4/01/2024		15,993
	16,000	Westpac Banking Corp., 2.350%, 2/19/2025		15,606

				231,570

See accompanying notes to financial statements.

| 46

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Principal Amount		Description	Value (†)
		Brokerage — 0.2%
$	21,000	BlackRock, Inc., 2.400%, 4/30/2030	$	19,078
	20,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		15,509

				34,587

		Building Materials — 0.2%
	11,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		10,090
	15,000	Owens Corning, 3.950%, 8/15/2029		14,298

				24,388

		Chemicals — 0.0%
	4,000	LYB International Finance BV, 5.250%, 7/15/2043		3,890

		Diversified Manufacturing — 0.2%
	18,000	3M Co., 3.050%, 4/15/2030		17,076
	8,000	Emerson Electric Co., 2.000%, 12/21/2028		7,301

				24,377

		Electric — 0.5%
	14,000	Duke Energy Corp., 3.750%, 4/15/2024		14,058
	19,000	Entergy Corp., 0.900%, 9/15/2025		17,303
	11,000	Exelon Corp., 4.050%, 4/15/2030		10,907
	17,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		14,955
	5,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		4,610
	4,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		3,461
	14,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		13,883

				79,177

		Environmental — 0.1%
	10,000	Republic Services, Inc., 1.450%, 2/15/2031		8,256
	5,000	Waste Management, Inc., 2.950%, 6/01/2041		4,074

				12,330

		Finance Companies — 0.1%
	9,000	Ares Capital Corp., 3.250%, 7/15/2025		8,487
	10,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		8,743

				17,230

		Food & Beverage — 0.4%
	19,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		17,709
	14,000	General Mills, Inc., 4.000%, 4/17/2025		14,176
	8,000	Mondelez International, Inc., 2.750%, 4/13/2030		7,297
	18,000	PepsiCo, Inc., 2.750%, 3/19/2030		17,157

				56,339

		Government Owned – No Guarantee — 0.3%
	13,000	Equinor ASA, 3.625%, 4/06/2040		11,927
	21,000	Federal National Mortgage Association, 6.625%, 11/15/2030		26,586

				38,513

		Health Insurance — 0.2%
	13,000	Elevance Health, Inc., 4.101%, 3/01/2028		13,182
	13,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		15,267

				28,449

		Healthcare — 0.3%
	8,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		8,172
	8,000	Cigna Corp., 3.750%, 7/15/2023		8,014
	5,000	CVS Health Corp., 4.300%, 3/25/2028		5,082
	9,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		8,713
	9,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		8,923
	10,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		9,160

				48,064

		Integrated Energy — 0.2%
	18,000	Exxon Mobil Corp., 2.992%, 3/19/2025		17,929
	12,000	Shell International Finance BV, 6.375%, 12/15/2038		14,446

				32,375

		Life Insurance — 0.0%
	4,000	Athene Holding Ltd., 6.150%, 4/03/2030		4,146

		Mortgage Related — 2.3%
	50,028	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		46,699
	42,276	FHLMC, 3.000%, with various maturities in 2052(b)		40,742
	45,338	FHLMC, 3.500%, 5/01/2052		44,894
	67,716	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		61,047
	50,002	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		46,725
	55,436	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		53,614
	39,535	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		39,196
	1,564	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		1,586
	1,481	FNMA, 4.500%, 5/01/2049		1,522

				336,025

		Natural Gas — 0.1%
	17,000	NiSource, Inc., 0.950%, 8/15/2025		15,561

		Pharmaceuticals — 0.3%
	14,000	AbbVie, Inc., 3.600%, 5/14/2025		14,002
	8,000	Biogen, Inc., 2.250%, 5/01/2030		6,835
	11,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		10,894
	7,000	Viatris, Inc., 3.850%, 6/22/2040		5,108

				36,839

		Property & Casualty Insurance — 0.0%
	6,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		5,390

		Railroads — 0.1%
	16,000	CSX Corp., 2.600%, 11/01/2026		15,552

		REITs – Apartments — 0.1%
	9,000	Essex Portfolio LP, 3.000%, 1/15/2030		8,128

		REITs – Health Care — 0.1%
	11,000	Welltower, Inc., 2.800%, 6/01/2031		9,540

		REITs – Office Property — 0.2%
	16,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		15,917
	7,000	Boston Properties LP, 2.750%, 10/01/2026		6,640
	16,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		13,573

				36,130

		REITs – Single Tenant — 0.1%
	6,000	Realty Income Corp., 3.400%, 1/15/2028		5,802
	7,000	Spirit Realty LP, 2.700%, 2/15/2032		5,640

				11,442

		REITs – Warehouse/Industrials — 0.1%
	10,000	Prologis LP, 1.250%, 10/15/2030		8,231

		Restaurants — 0.1%
	15,000	Starbucks Corp., 2.250%, 3/12/2030		13,187

		Retailers — 0.2%
	9,000	Amazon.com, Inc., 3.875%, 8/22/2037		9,062
	20,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		17,588

				26,650

See accompanying notes to financial statements.

47 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2035 Fund – (continued)


Principal Amount		Description	Value (†)
		Technology — 0.6%
$	15,000	Apple, Inc., 2.500%, 2/09/2025	$	14,866
	8,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		7,584
	11,000	Intel Corp., 2.450%, 11/15/2029		10,141
	18,000	International Business Machines Corp., 4.000%, 6/20/2042		16,409
	11,000	NVIDIA Corp., 2.850%, 4/01/2030		10,496
	18,000	Oracle Corp., 2.950%, 5/15/2025		17,548
	19,000	QUALCOMM, Inc., 1.650%, 5/20/2032		16,092

				93,136

		Treasuries — 2.2%
	21,000	U.S. Treasury Bond, 2.250%, 5/15/2041		17,977
	18,000	U.S. Treasury Bond, 2.500%, 5/15/2046		15,602
	42,000	U.S. Treasury Bond, 2.875%, 11/15/2046		39,058
	48,000	U.S. Treasury Bond, 3.000%, 5/15/2045		45,476
	24,000	U.S. Treasury Bond, 3.000%, 2/15/2048		23,088
	26,000	U.S. Treasury Bond, 3.000%, 2/15/2049		25,349
	80,000	U.S. Treasury Note, 0.375%, 11/30/2025		73,844
	82,000	U.S. Treasury Note, 2.125%, 12/31/2022		81,769

				322,163

		Utility Other — 0.1%
	13,000	Essential Utilities, Inc., 4.276%, 5/01/2049		11,747

		Wireless — 0.1%
	13,000	Vodafone Group PLC, 6.150%, 2/27/2037		14,469

		Wirelines — 0.1%
	8,000	AT&T, Inc., 3.650%, 6/01/2051		6,518
	14,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		13,970

				20,488

		Total Bonds and Notes (Identified Cost $1,787,281)		1,649,373


Shares
	Exchange-Traded Funds — 6.6%
	14,577	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $1,074,161)		965,143


	Mutual Funds — 10.2%
	37,830	WCM Focused Emerging Markets Fund, Institutional Class		501,621
	47,333	WCM Focused International Growth Fund, Institutional Class		985,464

		Total Mutual Funds (Identified Cost $1,814,556)		1,487,085


	Affiliated Mutual Funds — 20.4%
	58,431	Loomis Sayles Inflation Protected Securities Fund, Class N		629,305
	56,298	Loomis Sayles Limited Term Government and Agency Fund, Class N		617,585
	85,172	Mirova Global Green Bond Fund, Class N		764,848
	86,779	Mirova International Sustainable Equity Fund, Class N		971,061

		Total Affiliated Mutual Funds (Identified Cost $3,366,358)		2,982,799


	Short-Term Investments — 3.0%
$	445,633	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $445,657 on 8/01/2022 collateralized by $452,600 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $454,898 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $445,633)		445,633


		Total Investments — 100.1% (Identified Cost $15,713,700)		14,656,819
		Other assets less liabilities — (0.1)%		(8,183	)

		Net Assets — 100.0%	$	14,648,636


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $14,271 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, 2022 (Unaudited)


Equity	72.1	%
Fixed Income	25.0
Short-Term Investments	3.0

Total Investments	100.1
Other assets less liabilities	(0.1	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 48

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund


Shares		Description	Value (†)
	Common Stocks — 54.1% of Net Assets
		Aerospace & Defense — 0.9%
	207	AAR Corp.(a)	$	9,218
	45	Axon Enterprise, Inc.(a)		4,959
	428	Boeing Co. (The)(a)		68,185
	8	L3Harris Technologies, Inc.		1,920
	13	Lockheed Martin Corp.		5,379
	68	Moog, Inc., Class A		5,823
	8	Northrop Grumman Corp.		3,831
	131	Raytheon Technologies Corp.		12,210

				111,525

		Air Freight & Logistics — 0.3%
	213	Expeditors International of Washington, Inc.		22,631
	15	FedEx Corp.		3,497
	81	GXO Logistics, Inc.(a)		3,888
	27	United Parcel Service, Inc., Class B		5,262

				35,278

		Airlines — 0.1%
	212	Delta Air Lines, Inc.(a)		6,741
	654	JetBlue Airways Corp.(a)		5,507

				12,248

		Auto Components — 0.4%
	671	BorgWarner, Inc.		25,807
	442	Dana, Inc.		7,408
	78	Dorman Products, Inc.(a)		7,885
	59	Visteon Corp.(a)		7,527

				48,627

		Automobiles — 1.2%
	1,077	General Motors Co.(a)		39,052
	110	Tesla, Inc.(a)		98,059
	63	Thor Industries, Inc.		5,313

				142,424

		Banks — 2.4%
	334	Ameris Bancorp		15,795
	782	Bank of America Corp.		26,439
	316	Cadence Bank		8,248
	875	Citigroup, Inc.		45,412
	172	Citizens Financial Group, Inc.		6,531
	66	Fifth Third Bancorp		2,252
	1,521	FNB Corp.		18,191
	1,061	Fulton Financial Corp.		17,708
	190	Huntington Bancshares, Inc.		2,525
	286	International Bancshares Corp.		12,544
	67	JPMorgan Chase & Co.		7,729
	300	KeyCorp		5,490
	20	M&T Bank Corp.		3,549
	44	PNC Financial Services Group, Inc. (The)		7,301
	331	Regions Financial Corp.		7,011
	10	Signature Bank		1,856
	8	SVB Financial Group(a)		3,228
	320	Truist Financial Corp.		16,150
	442	Trustmark Corp.		14,352
	148	U.S. Bancorp		6,986
	269	Webster Financial Corp.		12,495
	769	Wells Fargo & Co.		33,736
	113	Wintrust Financial Corp.		9,723

				285,251

		Beverages — 1.1%
	54	Boston Beer Co., Inc. (The), Class A(a)		20,543
	291	Coca-Cola Co. (The)		18,674
	49	Keurig Dr Pepper, Inc.		1,898
		Beverages — continued
	760	Monster Beverage Corp.(a)		75,711
	74	PepsiCo, Inc.		12,947

				129,773

		Biotechnology — 1.7%
	119	AbbVie, Inc.		17,078
	243	Alnylam Pharmaceuticals, Inc.(a)		34,516
	54	Amgen, Inc.		13,363
	150	Arrowhead Pharmaceuticals, Inc.(a)		6,379
	38	Biogen, Inc.(a)		8,172
	192	BioMarin Pharmaceutical, Inc.(a)		16,522
	289	CRISPR Therapeutics AG(a)		21,675
	43	Gilead Sciences, Inc.		2,569
	178	Halozyme Therapeutics, Inc.(a)		8,704
	39	Moderna, Inc.(a)		6,400
	77	Neurocrine Biosciences, Inc.(a)		7,248
	91	Regeneron Pharmaceuticals, Inc.(a)		52,934

				195,560

		Building Products — 0.6%
	119	Builders FirstSource, Inc.(a)		8,092
	46	Carlisle Cos., Inc.		13,621
	84	Carrier Global Corp.		3,404
	46	Johnson Controls International PLC		2,480
	44	Lennox International, Inc.		10,539
	336	Masco Corp.		18,608
	138	Owens Corning		12,798
	88	Trex Co., Inc.(a)		5,678

				75,220

		Capital Markets — 3.3%
	17	Ameriprise Financial, Inc.		4,589
	651	Bank of New York Mellon Corp. (The)		28,292
	15	BlackRock, Inc.		10,038
	657	Charles Schwab Corp. (The)		45,366
	27	CME Group, Inc.		5,386
	69	FactSet Research Systems, Inc.		29,648
	99	Goldman Sachs Group, Inc. (The)		33,005
	282	Intercontinental Exchange, Inc.		28,761
	218	Janus Henderson Group PLC		5,618
	797	KKR & Co., Inc.		44,202
	97	Moody’s Corp.		30,094
	100	Morgan Stanley		8,430
	56	MSCI, Inc.		26,955
	27	Northern Trust Corp.		2,694
	62	S&P Global, Inc.		23,370
	422	SEI Investments Co.		23,362
	504	State Street Corp.		35,804
	44	Virtus Investment Partners, Inc.		9,078

				394,692

		Chemicals — 0.4%
	18	Air Products & Chemicals, Inc.		4,468
	38	DuPont de Nemours, Inc.		2,327
	119	HB Fuller Co.		7,640
	87	Innospec, Inc.		8,874
	29	Linde PLC		8,758
	101	Minerals Technologies, Inc.		6,748
	58	Stepan Co.		6,508

				45,323

		Commercial Services & Supplies — 0.3%
	62	MSA Safety, Inc.		7,957
	76	Tetra Tech, Inc.		11,649
	123	Viad Corp.(a)		4,154

See accompanying notes to financial statements.

49 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	104	Waste Management, Inc.	$	17,114

				40,874

		Communications Equipment — 0.1%
	147	Ciena Corp.(a)		7,585
	81	Lumentum Holdings, Inc.(a)		7,327

				14,912

		Construction & Engineering — 0.2%
	249	AECOM		17,928

		Consumer Finance — 0.9%
	1,367	Ally Financial, Inc.		45,207
	168	American Express Co.		25,875
	287	Capital One Financial Corp.		31,521
	168	Green Dot Corp., Class A(a)		4,721

				107,324

		Containers & Packaging — 0.2%
	32	Ball Corp.		2,349
	66	International Paper Co.		2,823
	198	Sonoco Products Co.		12,571

				17,743

		Distributors — 0.1%
	55	Genuine Parts Co.		8,408

		Diversified Consumer Services — 0.2%
	107	Grand Canyon Education, Inc.(a)		10,280
	155	Service Corp. International		11,541

				21,821

		Diversified Telecommunication Services — 0.1%
	173	AT&T, Inc.		3,249
	206	Lumen Technologies, Inc.		2,243
	101	Verizon Communications, Inc.		4,665

				10,157

		Electric Utilities — 0.6%
	161	American Electric Power Co., Inc.		15,868
	186	Edison International		12,605
	199	Eversource Energy		17,556
	82	IDACORP, Inc.		9,161
	136	NextEra Energy, Inc.		11,491

				66,681

		Electrical Equipment — 1.2%
	32	Acuity Brands, Inc.		5,837
	626	ChargePoint Holdings, Inc.(a)		9,459
	38	Eaton Corp. PLC		5,639
	42	Emerson Electric Co.		3,783
	1,310	Fluence Energy, Inc.(a)		17,999
	58	Hubbell, Inc.		12,703
	1,009	Plug Power, Inc.(a)		21,532
	57	Rockwell Automation, Inc.		14,551
	709	Shoals Technologies Group, Inc., Class A(a)		16,753
	891	Sunrun, Inc.(a)		29,127

				137,383

		Electronic Equipment, Instruments & Components — 0.5%
	260	Avnet, Inc.		12,446
	156	Cognex Corp.		7,953
	49	Corning, Inc.		1,801
	30	II-VI, Inc.(a)		1,579
	179	Itron, Inc.(a)		10,453
	13	Keysight Technologies, Inc.(a)		2,114
	33	Littelfuse, Inc.		9,203
	75	TE Connectivity Ltd.		10,030

				55,579

		Energy Equipment & Services — 0.2%
	792	Archrock, Inc.		6,684
	85	Baker Hughes Co.		2,184
	346	ChampionX Corp.		7,228
	117	Schlumberger NV		4,333

				20,429

		Entertainment — 2.0%
	53	Activision Blizzard, Inc.		4,237
	124	Electronic Arts, Inc.		16,273
	468	Netflix, Inc.(a)		105,253
	176	Take-Two Interactive Software, Inc.(a)		23,360
	656	Walt Disney Co. (The)(a)		69,602
	972	Warner Bros Discovery, Inc.(a)		14,580

				233,305

		Food & Staples Retailing — 0.4%
	123	BJ’s Wholesale Club Holdings, Inc.(a)		8,327
	10	Costco Wholesale Corp.		5,413
	162	Kroger Co. (The)		7,523
	224	SpartanNash Co.		7,233
	304	Sprouts Farmers Market, Inc.(a)		8,403
	70	Sysco Corp.		5,943
	90	Walgreens Boots Alliance, Inc.		3,566
	47	Walmart, Inc.		6,206

				52,614

		Food Products — 0.4%
	100	Campbell Soup Co.		4,935
	272	Darling Ingredients, Inc.(a)		18,844
	71	General Mills, Inc.		5,310
	161	Hain Celestial Group, Inc. (The)(a)		3,663
	67	Hormel Foods Corp.		3,306
	80	Ingredion, Inc.		7,278
	21	J.M. Smucker Co. (The)		2,779
	36	Kellogg Co.		2,661
	18	McCormick & Co., Inc.		1,572

				50,348

		Gas Utilities — 0.2%
	272	New Jersey Resources Corp.		12,564
	92	ONE Gas, Inc.		7,814

				20,378

		Health Care Equipment & Supplies — 0.9%
	150	Abbott Laboratories		16,326
	36	Becton Dickinson & Co.		8,795
	10	Cooper Cos., Inc. (The)		3,270
	31	DexCom, Inc.(a)		2,544
	71	Edwards Lifesciences Corp.(a)		7,138
	85	Globus Medical, Inc., Class A(a)		4,989
	97	Haemonetics Corp.(a)		6,741
	34	Hologic, Inc.(a)		2,427
	87	Intuitive Surgical, Inc.(a)		20,025
	269	LeMaitre Vascular, Inc.		13,544
	43	Penumbra, Inc.(a)		5,993
	13	ResMed, Inc.		3,127
	39	Shockwave Medical, Inc.(a)		8,226
	10	STERIS PLC		2,257
	15	Stryker Corp.		3,221
	9	Teleflex, Inc.		2,164

				110,787

		Health Care Providers & Services — 1.3%
	124	Acadia Healthcare Co., Inc.(a)		10,281
	30	Amedisys, Inc.(a)		3,595
	112	Centene Corp.(a)		10,413

See accompanying notes to financial statements.

| 50

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	21	Chemed Corp.	$	10,103
	47	Cigna Corp.		12,942
	58	CVS Health Corp.		5,549
	34	Elevance Health, Inc.		16,221
	79	Encompass Health Corp.		3,999
	39	Enhabit, Inc.(a)		683
	171	HCA Healthcare, Inc.		36,324
	21	Humana, Inc.		10,122
	22	Quest Diagnostics, Inc.		3,005
	216	Select Medical Holdings Corp.		6,398
	116	Tenet Healthcare Corp.(a)		7,670
	32	UnitedHealth Group, Inc.		17,355

				154,660

		Health Care Technology — 0.6%
	385	Allscripts Healthcare Solutions, Inc.(a)		6,091
	887	Doximity, Inc., Class A(a)		37,538
	140	Veeva Systems, Inc., Class A(a)		31,301

				74,930

		Hotels, Restaurants & Leisure — 1.5%
	29	Booking Holdings, Inc.(a)		56,135
	49	Expedia Group, Inc.(a)		5,196
	115	Hilton Worldwide Holdings, Inc.		14,728
	94	Jack in the Box, Inc.		6,499
	32	McDonald’s Corp.		8,428
	393	Starbucks Corp.		33,319
	204	Travel & Leisure Co.		8,794
	456	Yum China Holdings, Inc.		22,212
	144	Yum! Brands, Inc.		17,646

				172,957

		Household Durables — 0.4%
	40	DR Horton, Inc.		3,121
	253	KB Home		8,258
	98	Meritage Homes Corp.(a)		8,653
	475	PulteGroup, Inc.		20,720
	341	Taylor Morrison Home Corp.(a)		9,787

				50,539

		Household Products — 0.4%
	273	Colgate-Palmolive Co.		21,496
	83	Kimberly-Clark Corp.		10,938
	135	Procter & Gamble Co. (The)		18,753

				51,187

		Independent Power & Renewable Electricity Producers — 0.2%
	110	AES Corp. (The)		2,444
	150	NextEra Energy Partners LP		12,411
	563	Sunnova Energy International, Inc.(a)		14,649

				29,504

		Industrial Conglomerates — 0.3%
	37	3M Co.		5,300
	251	General Electric Co.		18,551
	41	Honeywell International, Inc.		7,891

				31,742

		Insurance — 1.5%
	71	Aflac, Inc.		4,068
	40	Allstate Corp. (The)		4,679
	470	American International Group, Inc.		24,332
	44	Chubb Ltd.		8,300
	144	First American Financial Corp.		8,352
	90	Hanover Insurance Group, Inc. (The)		12,282
	67	Marsh & McLennan Cos., Inc.		10,986
		Insurance — continued
	325	Prudential Financial, Inc.		32,497
	235	Reinsurance Group of America, Inc.		27,208
	159	Selective Insurance Group, Inc.		12,380
	37	Travelers Cos., Inc. (The)		5,872
	150	Willis Towers Watson PLC		31,041

				181,997

		Interactive Media & Services — 2.4%
	580	Alphabet, Inc., Class A(a)		67,466
	680	Alphabet, Inc., Class C(a)		79,315
	622	Meta Platforms, Inc., Class A(a)		98,960
	1,548	Pinterest, Inc., Class A(a)		30,155
	304	Twitter, Inc.(a)		12,650

				288,546

		Internet & Direct Marketing Retail — 2.0%
	221	Alibaba Group Holding Ltd., Sponsored ADR(a)		19,751
	1,146	Amazon.com, Inc.(a)		154,653
	900	eBay, Inc.		43,767
	184	Etsy, Inc.(a)		19,084

				237,255

		IT Services — 2.8%
	17	Accenture PLC, Class A		5,206
	26	Automatic Data Processing, Inc.		6,269
	253	Block, Inc.(a)		19,243
	52	Cognizant Technology Solutions Corp., Class A		3,534
	56	Concentrix Corp.		7,491
	392	Fiserv, Inc.(a)		41,427
	105	Gartner, Inc.(a)		27,875
	220	Global Payments, Inc.		26,910
	53	International Business Machines Corp.		6,932
	111	Mastercard, Inc., Class A		39,271
	24	Paychex, Inc.		3,079
	313	PayPal Holdings, Inc.(a)		27,084
	60	Perficient, Inc.(a)		6,331
	450	Shopify, Inc., Class A(a)		15,673
	13	VeriSign, Inc.(a)		2,459
	399	Visa, Inc., Class A		84,632
	42	WEX, Inc.(a)		6,981

				330,397

		Leisure Products — 0.1%
	430	Mattel, Inc.(a)		9,976

		Life Sciences Tools & Services — 0.6%
	47	Agilent Technologies, Inc.		6,303
	42	Danaher Corp.		12,242
	132	Illumina, Inc.(a)		28,602
	9	IQVIA Holdings, Inc.(a)		2,162
	19	PerkinElmer, Inc.		2,910
	48	Repligen Corp.(a)		10,241
	17	Thermo Fisher Scientific, Inc.		10,173
	7	Waters Corp.(a)		2,548

				75,181

		Machinery — 1.3%
	67	AGCO Corp.		7,298
	37	Caterpillar, Inc.		7,335
	29	Chart Industries, Inc.(a)		5,658
	53	Cummins, Inc.		11,729
	65	Deere & Co.		22,307
	38	Illinois Tool Works, Inc.		7,895
	139	ITT, Inc.		10,429
	114	Oshkosh Corp.		9,815
	207	PACCAR, Inc.		18,945

See accompanying notes to financial statements.

51 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	119	Parker-Hannifin Corp.	$	34,402
	136	Terex Corp.		4,557
	121	Toro Co. (The)		10,405

				150,775

		Media — 1.1%
	8	Cable One, Inc.		11,014
	110	Charter Communications, Inc., Class A(a)		47,531
	1,145	Comcast Corp., Class A		42,960
	165	Interpublic Group of Cos., Inc. (The)		4,929
	148	New York Times Co. (The), Class A		4,729
	193	News Corp., Class A		3,308
	129	News Corp., Class B		2,229
	85	Omnicom Group, Inc.		5,936
	71	Paramount Global, Class B		1,679

				124,315

		Metals & Mining — 0.4%
	94	Alcoa Corp.		4,784
	267	Cleveland-Cliffs, Inc.(a)		4,729
	200	Commercial Metals Co.		7,924
	58	Newmont Corp.		2,626
	17	Nucor Corp.		2,309
	58	Reliance Steel & Aluminum Co.		11,034
	138	Steel Dynamics, Inc.		10,747

				44,153

		Multi-Utilities — 0.2%
	107	Consolidated Edison, Inc.		10,622
	42	DTE Energy Co.		5,473
	26	WEC Energy Group, Inc.		2,699

				18,794

		Multiline Retail — 0.2%
	122	Kohl’s Corp.		3,555
	297	Macy’s, Inc.		5,242
	57	Target Corp.		9,313

				18,110

		Oil, Gas & Consumable Fuels — 2.1%
	739	Antero Midstream Corp.		7,434
	1,132	APA Corp.		42,076
	94	Chevron Corp.		15,395
	482	CNX Resources Corp.(a)		8,324
	406	ConocoPhillips		39,557
	117	Diamondback Energy, Inc.		14,978
	460	EOG Resources, Inc.		51,161
	208	EQT Corp.		9,158
	206	Exxon Mobil Corp.		19,968
	136	HF Sinclair Corp.		6,504
	172	Kinder Morgan, Inc.		3,094
	164	Marathon Oil Corp.		4,067
	36	Occidental Petroleum Corp.		2,367
	236	Range Resources Corp.(a)		7,805
	914	Southwestern Energy Co.(a)		6,453
	36	Valero Energy Corp.		3,988

				242,329

		Paper & Forest Products — 0.0%
	83	Louisiana-Pacific Corp.		5,281

		Pharmaceuticals — 1.7%
	352	Bristol-Myers Squibb Co.		25,970
	36	Eli Lilly & Co.		11,869
	59	Jazz Pharmaceuticals PLC(a)		9,207
	117	Johnson & Johnson		20,419
		Pharmaceuticals — continued
	237	Merck & Co., Inc.		21,174
	471	Novartis AG, Sponsored ADR		40,426
	174	Novo Nordisk A/S, Sponsored ADR		20,194
	133	Perrigo Co. PLC		5,569
	262	Pfizer, Inc.		13,234
	703	Roche Holding AG, Sponsored ADR		29,153
	29	Zoetis, Inc.		5,294

				202,509

		Professional Services — 0.5%
	129	Equifax, Inc.		26,949
	112	Exponent, Inc.		11,255
	113	Korn Ferry		7,403
	66	ManpowerGroup, Inc.		5,175
	39	Verisk Analytics, Inc.		7,420

				58,202

		Real Estate Management & Development — 0.4%
	387	CBRE Group, Inc., Class A(a)		33,135
	59	Jones Lang LaSalle, Inc.(a)		11,250

				44,385

		REITs – Apartments — 0.4%
	210	American Campus Communities, Inc.		13,717
	85	AvalonBay Communities, Inc.		18,185
	68	Equity Residential		5,331
	32	Essex Property Trust, Inc.		9,169

				46,402

		REITs – Diversified — 0.5%
	605	American Assets Trust, Inc.		18,289
	49	American Tower Corp.		13,270
	47	Crown Castle International Corp.		8,491
	18	Digital Realty Trust, Inc.		2,384
	5	Equinix, Inc.		3,519
	146	VICI Properties, Inc.		4,992
	147	Weyerhaeuser Co.		5,339

				56,284

		REITs – Health Care — 0.2%
	46	Ventas, Inc.		2,474
	226	Welltower, Inc.		19,513

				21,987

		REITs – Hotels — 0.0%
	141	Host Hotels & Resorts, Inc.		2,511

		REITs – Mortgage — 0.1%
	227	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		8,192

		REITs – Office Property — 0.6%
	121	Alexandria Real Estate Equities, Inc.		20,059
	999	Brandywine Realty Trust		9,341
	513	Corporate Office Properties Trust		14,441
	341	Douglas Emmett, Inc.		8,061
	466	Easterly Government Properties, Inc.		9,446
	151	Kilroy Realty Corp.		8,181

				69,529

		REITs – Shopping Centers — 0.2%
	846	Brixmor Property Group, Inc.		19,610

		REITs – Warehouse/Industrials — 0.1%
	84	ProLogis, Inc.		11,135

		Road & Rail — 0.7%
	26	Avis Budget Group, Inc.(a)		4,733
	250	Canadian Pacific Railway Ltd.		19,717
	248	CSX Corp.		8,018

See accompanying notes to financial statements.

| 52

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — continued
	99	Norfolk Southern Corp.	$	24,866
	87	Ryder System, Inc.		6,814
	100	Union Pacific Corp.		22,730

				86,878

		Semiconductors & Semiconductor Equipment — 2.5%
	113	Advanced Micro Devices, Inc.(a)		10,675
	38	Analog Devices, Inc.		6,535
	37	Broadcom, Inc.		19,813
	86	Cirrus Logic, Inc.(a)		7,350
	124	Enphase Energy, Inc.(a)		35,238
	70	First Solar, Inc.(a)		6,942
	197	Intel Corp.		7,153
	194	Lattice Semiconductor Corp.(a)		11,931
	69	Micron Technology, Inc.		4,268
	624	NVIDIA Corp.		113,337
	257	QUALCOMM, Inc.		37,281
	59	Silicon Laboratories, Inc.(a)		8,701
	37	Synaptics, Inc.(a)		5,363
	45	Texas Instruments, Inc.		8,050
	48	Universal Display Corp.		5,542
	84	Wolfspeed, Inc.(a)		6,997

				295,176

		Software — 4.2%
	65	Adobe, Inc.(a)		26,658
	17	ANSYS, Inc.(a)		4,743
	24	Aspen Technology, Inc.(a)		4,898
	304	Autodesk, Inc.(a)		65,761
	66	Blackbaud, Inc.(a)		4,047
	18	Citrix Systems, Inc.		1,825
	98	CommVault Systems, Inc.(a)		5,497
	20	Fair Isaac Corp.(a)		9,241
	90	Fortinet, Inc.(a)		5,369
	306	Microsoft Corp.		85,906
	117	NortonLifeLock, Inc.		2,870
	1,285	Oracle Corp.		100,024
	45	Paylocity Holding Corp.(a)		9,267
	63	Qualys, Inc.(a)		7,706
	505	Salesforce, Inc.(a)		92,930
	28	ServiceNow, Inc.(a)		12,507
	74	SPS Commerce, Inc.(a)		8,862
	295	Workday, Inc., Class A(a)		45,755

				493,866

		Specialty Retail — 0.7%
	27	Asbury Automotive Group, Inc.(a)		4,634
	3	AutoZone, Inc.(a)		6,412
	16	Best Buy Co., Inc.		1,232
	91	Boot Barn Holdings, Inc.(a)		5,669
	55	Five Below, Inc.(a)		6,989
	96	GameStop Corp., Class A(a)		3,265
	80	Home Depot, Inc. (The)		24,075
	28	Lithia Motors, Inc.		7,428
	54	Lowe’s Cos., Inc.		10,343
	74	TJX Cos., Inc. (The)		4,526
	10	Tractor Supply Co.		1,915
	5	Ulta Beauty, Inc.(a)		1,945
	58	Williams-Sonoma, Inc.		8,376

				86,809

		Technology Hardware, Storage & Peripherals — 0.1%
	180	Hewlett Packard Enterprise Co.		2,563
	109	HP, Inc.		3,640

				6,203

		Textiles, Apparel & Luxury Goods — 0.5%
	51	Crocs, Inc.(a)		3,654
	36	Deckers Outdoor Corp.(a)		11,276
	206	NIKE, Inc., Class B		23,673
	1,762	Under Armour, Inc., Class A(a)		16,316
	44	VF Corp.		1,966

				56,885

		Thrifts & Mortgage Finance — 0.2%
	1,358	MGIC Investment Corp.		19,202
	195	Mr. Cooper Group, Inc.(a)		8,785

				27,987

		Trading Companies & Distributors — 0.0%
	57	GATX Corp.		5,714

		Water Utilities — 0.2%
	87	American States Water Co.		7,584
	47	American Water Works Co., Inc.		7,305
	184	Essential Utilities, Inc.		9,557

				24,446

		Wireless Telecommunication Services — 0.0%
	31	T-Mobile US, Inc.(a)		4,435

		Total Common Stocks (Identified Cost $6,627,793)		6,384,365


Principal Amount
	Bonds and Notes — 7.5%
		Automotive — 0.1%
$	7,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		6,883
	4,000	Lear Corp., 4.250%, 5/15/2029		3,760
	4,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		3,583

				14,226

		Banking — 1.1%
	11,000	American Express Co., 3.700%, 8/03/2023		11,046
	10,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		9,657
	8,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		8,061
	4,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		3,997
	10,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		9,118
	7,000	Citigroup, Inc., 4.600%, 3/09/2026		7,127
	9,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		8,995
	9,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		8,870
	8,000	KeyCorp, MTN, 2.550%, 10/01/2029		7,110
	4,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		3,822
	4,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		4,008
	5,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		4,515
	11,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		10,586
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		3,921
	6,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		5,937
	7,000	State Street Corp., 2.400%, 1/24/2030		6,306
	4,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		3,459
	8,000	Truist Bank, 3.200%, 4/01/2024		7,996
	8,000	Westpac Banking Corp., 2.350%, 2/19/2025		7,803

				132,334

See accompanying notes to financial statements.

53 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Principal Amount		Description	Value (†)
		Brokerage — 0.2%
$	10,000	BlackRock, Inc., 2.400%, 4/30/2030	$	9,085
	12,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		9,305

				18,390

		Building Materials — 0.1%
	5,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		4,587
	12,000	Owens Corning, 3.950%, 8/15/2029		11,438

				16,025

		Chemicals — 0.0%
	6,000	LYB International Finance BV, 5.250%, 7/15/2043		5,835

		Diversified Manufacturing — 0.1%
	13,000	3M Co., 3.050%, 4/15/2030		12,332
	4,000	Emerson Electric Co., 2.000%, 12/21/2028		3,651

				15,983

		Electric — 0.4%
	9,000	Duke Energy Corp., 3.750%, 4/15/2024		9,037
	10,000	Entergy Corp., 0.900%, 9/15/2025		9,107
	8,000	Exelon Corp., 4.050%, 4/15/2030		7,932
	8,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		7,038
	4,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		3,688
	3,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		2,596
	11,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		10,908

				50,306

		Environmental — 0.1%
	4,000	Republic Services, Inc., 1.450%, 2/15/2031		3,303
	4,000	Waste Management, Inc., 2.950%, 6/01/2041		3,259

				6,562

		Finance Companies — 0.1%
	4,000	Ares Capital Corp., 3.250%, 7/15/2025		3,772
	5,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		4,371

				8,143

		Food & Beverage — 0.3%
	8,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		7,457
	9,000	General Mills, Inc., 4.000%, 4/17/2025		9,113
	4,000	Mondelez International, Inc., 2.750%, 4/13/2030		3,648
	12,000	PepsiCo, Inc., 2.750%, 3/19/2030		11,438

				31,656

		Government Owned – No Guarantee — 0.2%
	8,000	Equinor ASA, 3.625%, 4/06/2040		7,340
	11,000	Federal National Mortgage Association, 6.625%, 11/15/2030		13,926

				21,266

		Health Insurance — 0.1%
	7,000	Elevance Health, Inc., 4.101%, 3/01/2028		7,098
	6,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		7,046

				14,144

		Healthcare — 0.3%
	5,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		5,107
	8,000	Cigna Corp., 3.750%, 7/15/2023		8,014
	5,000	CVS Health Corp., 4.300%, 3/25/2028		5,083
	4,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		3,872
	4,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		3,966
	4,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		3,664

				29,706

		Integrated Energy — 0.2%
	10,000	Exxon Mobil Corp., 2.992%, 3/19/2025		9,961
	8,000	Shell International Finance BV, 6.375%, 12/15/2038		9,631

				19,592

		Life Insurance — 0.0%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,073

		Mortgage Related — 1.6%
	31,774	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		29,659
	27,847	FHLMC, 3.000%, with various maturities from 2049 to 2052(b)		26,839
	25,626	FHLMC, 3.500%, 5/01/2052		25,375
	28,578	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		25,764
	26,787	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		25,030
	29,902	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		28,912
	22,410	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		22,211
	582	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		588
	692	FNMA, 4.500%, with various maturities in 2049(b)		712

				185,090

		Natural Gas — 0.1%
	10,000	NiSource, Inc., 0.950%, 8/15/2025		9,153

		Pharmaceuticals — 0.2%
	11,000	AbbVie, Inc., 3.600%, 5/14/2025		11,002
	4,000	Biogen, Inc., 2.250%, 5/01/2030		3,418
	9,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		8,913
	5,000	Viatris, Inc., 3.850%, 6/22/2040		3,648

				26,981

		Property & Casualty Insurance — 0.0%
	4,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		3,593

		Railroads — 0.1%
	7,000	CSX Corp., 2.600%, 11/01/2026		6,804

		REITs – Apartments — 0.0%
	6,000	Essex Portfolio LP, 3.000%, 1/15/2030		5,419

		REITs – Health Care — 0.0%
	4,000	Welltower, Inc., 2.800%, 6/01/2031		3,469

		REITs – Office Property — 0.2%
	10,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		9,948
	4,000	Boston Properties LP, 2.750%, 10/01/2026		3,794
	8,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		6,787

				20,529

		REITs – Single Tenant — 0.0%
	4,000	Realty Income Corp., 3.400%, 1/15/2028		3,869
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		1,611

				5,480

		REITs – Warehouse/Industrials — 0.0%
	4,000	Prologis LP, 1.250%, 10/15/2030		3,292

		Restaurants — 0.1%
	10,000	Starbucks Corp., 2.250%, 3/12/2030		8,791

		Retailers — 0.1%
	8,000	Amazon.com, Inc., 3.875%, 8/22/2037		8,055
	9,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		7,915

				15,970

See accompanying notes to financial statements.

| 54

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2040 Fund – (continued)


Principal Amount		Description		Value (†)
		Technology — 0.5%
$	9,000	Apple, Inc., 2.500%, 2/09/2025		$	8,920
	2,000	Broadcom, Inc., 3.137%, 11/15/2035, 144A			1,608
	7,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A			6,636
	8,000	Intel Corp., 2.450%, 11/15/2029			7,375
	9,000	International Business Machines Corp., 4.000%, 6/20/2042			8,205
	8,000	NVIDIA Corp., 2.850%, 4/01/2030			7,634
	7,000	Oracle Corp., 2.950%, 5/15/2025			6,824
	10,000	QUALCOMM, Inc., 1.650%, 5/20/2032			8,469

					55,671

		Treasuries — 1.1%
	9,000	U.S. Treasury Bond, 2.250%, 5/15/2041			7,705
	7,000	U.S. Treasury Bond, 2.500%, 5/15/2046			6,067
	22,000	U.S. Treasury Bond, 2.875%, 11/15/2046			20,459
	21,000	U.S. Treasury Bond, 3.000%, 5/15/2045			19,896
	10,000	U.S. Treasury Bond, 3.000%, 2/15/2048			9,620
	18,000	U.S. Treasury Bond, 3.000%, 2/15/2049			17,549
	33,000	U.S. Treasury Note, 0.375%, 11/30/2025			30,461
	18,000	U.S. Treasury Note, 2.125%, 12/31/2022			17,949

					129,706

		Utility Other — 0.0%
	6,000	Essential Utilities, Inc., 4.276%, 5/01/2049			5,422
			��
		Wireless — 0.1%
	7,000	Vodafone Group PLC, 6.150%, 2/27/2037			7,791

		Wirelines — 0.1%
	3,000	AT&T, Inc., 3.650%, 6/01/2051			2,444
	8,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)			7,983

					10,427

		Total Bonds and Notes (Identified Cost $963,254)			889,829


Shares
	Exchange-Traded Funds — 7.1%
	12,646	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $965,212)			837,292


	Mutual Funds — 11.2%
	35,791	WCM Focused Emerging Markets Fund, Institutional Class			474,588
	40,626	WCM Focused International Growth Fund, Institutional Class			845,834

		Total Mutual Funds (Identified Cost $1,671,255)			1,320,422


	Affiliated Mutual Funds — 16.9%
	36,932	Loomis Sayles Inflation Protected Securities Fund, Class N			397,761
	27,656	Loomis Sayles Limited Term Government and Agency Fund, Class N			303,381
	51,196	Mirova Global Green Bond Fund, Class N			459,736
	75,121	Mirova International Sustainable Equity Fund, Class N			840,608

		Total Affiliated Mutual Funds (Identified Cost $2,309,084)			2,001,486


Principal Amount		Description		Value (†)
	Short-Term Investments — 3.6%
$	421,831	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $421,854 on 8/01/2022 collateralized by $428,500 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $430,676 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $421,831)		$	421,831


		Total Investments — 100.4% (Identified Cost $12,958,429)			11,855,225
		Other assets less liabilities — (0.4)%			(45,180	)

		Net Assets — 100.0%		$	11,810,045


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $12,066 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, 2022 (Unaudited)


Equity	79.5	%
Fixed Income	17.3
Short-Term Investments	3.6

Total Investments	100.4
Other assets less liabilities	(0.4	)

Net Assets	100.0	%

See accompanying notes to financial statements.

55 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund


Shares		Description	Value (†)
	Common Stocks — 56.6% of Net Assets
		Aerospace & Defense — 1.0%
	230	AAR Corp.(a)	$	10,242
	50	Axon Enterprise, Inc.(a)		5,509
	457	Boeing Co. (The)(a)		72,805
	8	L3Harris Technologies, Inc.		1,920
	15	Lockheed Martin Corp.		6,207
	72	Moog, Inc., Class A		6,166
	9	Northrop Grumman Corp.		4,310
	141	Raytheon Technologies Corp.		13,143

				120,302

		Air Freight & Logistics — 0.3%
	232	Expeditors International of Washington, Inc.		24,650
	17	FedEx Corp.		3,962
	83	GXO Logistics, Inc.(a)		3,984
	30	United Parcel Service, Inc., Class B		5,847

				38,443

		Airlines — 0.1%
	221	Delta Air Lines, Inc.(a)		7,028
	722	JetBlue Airways Corp.(a)		6,079

				13,107

		Auto Components — 0.4%
	729	BorgWarner, Inc.		28,037
	487	Dana, Inc.		8,162
	87	Dorman Products, Inc.(a)		8,795
	65	Visteon Corp.(a)		8,293

				53,287

		Automobiles — 1.3%
	1,167	General Motors Co.(a)		42,315
	118	Tesla, Inc.(a)		105,191
	68	Thor Industries, Inc.		5,735

				153,241

		Banks — 2.5%
	349	Ameris Bancorp		16,504
	850	Bank of America Corp.		28,739
	329	Cadence Bank		8,587
	950	Citigroup, Inc.		49,305
	186	Citizens Financial Group, Inc.		7,063
	70	Fifth Third Bancorp		2,388
	1,595	FNB Corp.		19,076
	1,112	Fulton Financial Corp.		18,559
	201	Huntington Bancshares, Inc.		2,671
	299	International Bancshares Corp.		13,114
	70	JPMorgan Chase & Co.		8,075
	313	KeyCorp		5,728
	22	M&T Bank Corp.		3,904
	45	PNC Financial Services Group, Inc. (The)		7,467
	282	Regions Financial Corp.		5,973
	11	Signature Bank		2,041
	8	SVB Financial Group(a)		3,228
	340	Truist Financial Corp.		17,160
	463	Trustmark Corp.		15,034
	157	U.S. Bancorp		7,410
	282	Webster Financial Corp.		13,099
	835	Wells Fargo & Co.		36,632
	121	Wintrust Financial Corp.		10,411

				302,168

		Beverages — 1.1%
	57	Boston Beer Co., Inc. (The), Class A(a)		21,684
	318	Coca-Cola Co. (The)		20,406
	54	Keurig Dr Pepper, Inc.		2,092
		Beverages — continued
	830	Monster Beverage Corp.(a)		82,685
	78	PepsiCo, Inc.		13,647

				140,514

		Biotechnology — 1.7%
	125	AbbVie, Inc.		17,939
	265	Alnylam Pharmaceuticals, Inc.(a)		37,641
	58	Amgen, Inc.		14,353
	156	Arrowhead Pharmaceuticals, Inc.(a)		6,635
	41	Biogen, Inc.(a)		8,817
	211	BioMarin Pharmaceutical, Inc.(a)		18,157
	297	CRISPR Therapeutics AG(a)		22,275
	46	Gilead Sciences, Inc.		2,748
	198	Halozyme Therapeutics, Inc.(a)		9,682
	42	Moderna, Inc.(a)		6,892
	84	Neurocrine Biosciences, Inc.(a)		7,907
	102	Regeneron Pharmaceuticals, Inc.(a)		59,332

				212,378

		Building Products — 0.6%
	128	Builders FirstSource, Inc.(a)		8,704
	47	Carlisle Cos., Inc.		13,917
	87	Carrier Global Corp.		3,526
	51	Johnson Controls International PLC		2,749
	48	Lennox International, Inc.		11,497
	364	Masco Corp.		20,158
	144	Owens Corning		13,355
	94	Trex Co., Inc.(a)		6,065

				79,971

		Capital Markets — 3.5%
	19	Ameriprise Financial, Inc.		5,129
	705	Bank of New York Mellon Corp. (The)		30,639
	17	BlackRock, Inc.		11,376
	708	Charles Schwab Corp. (The)		48,887
	28	CME Group, Inc.		5,585
	73	FactSet Research Systems, Inc.		31,367
	107	Goldman Sachs Group, Inc. (The)		35,673
	308	Intercontinental Exchange, Inc.		31,413
	240	Janus Henderson Group PLC		6,185
	863	KKR & Co., Inc.		47,862
	104	Moody’s Corp.		32,266
	113	Morgan Stanley		9,526
	61	MSCI, Inc.		29,362
	32	Northern Trust Corp.		3,193
	66	S&P Global, Inc.		24,877
	462	SEI Investments Co.		25,576
	547	State Street Corp.		38,859
	47	Virtus Investment Partners, Inc.		9,697

				427,472

		Chemicals — 0.4%
	19	Air Products & Chemicals, Inc.		4,716
	40	DuPont de Nemours, Inc.		2,449
	131	HB Fuller Co.		8,410
	91	Innospec, Inc.		9,282
	31	Linde PLC		9,362
	111	Minerals Technologies, Inc.		7,416
	64	Stepan Co.		7,182

				48,817

		Commercial Services & Supplies — 0.4%
	67	MSA Safety, Inc.		8,599
	79	Tetra Tech, Inc.		12,108
	131	Viad Corp.(a)		4,424

See accompanying notes to financial statements.

| 56

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	114	Waste Management, Inc.	$	18,760

				43,891

		Communications Equipment — 0.1%
	155	Ciena Corp.(a)		7,998
	89	Lumentum Holdings, Inc.(a)		8,051

				16,049

		Construction & Engineering — 0.1%
	261	AECOM		18,792

		Consumer Finance — 0.9%
	1,484	Ally Financial, Inc.		49,076
	179	American Express Co.		27,570
	310	Capital One Financial Corp.		34,047
	185	Green Dot Corp., Class A(a)		5,198

				115,891

		Containers & Packaging — 0.2%
	32	Ball Corp.		2,350
	69	International Paper Co.		2,951
	219	Sonoco Products Co.		13,904

				19,205

		Distributors — 0.1%
	61	Genuine Parts Co.		9,325

		Diversified Consumer Services — 0.2%
	137	Grand Canyon Education, Inc.(a)		13,162
	162	Service Corp. International		12,062

				25,224

		Diversified Telecommunication Services — 0.1%
	188	AT&T, Inc.		3,531
	216	Lumen Technologies, Inc.		2,352
	109	Verizon Communications, Inc.		5,035

				10,918

		Electric Utilities — 0.6%
	172	American Electric Power Co., Inc.		16,952
	201	Edison International		13,622
	191	Eversource Energy		16,850
	86	IDACORP, Inc.		9,608
	143	NextEra Energy, Inc.		12,082

				69,114

		Electrical Equipment — 1.2%
	34	Acuity Brands, Inc.		6,202
	676	ChargePoint Holdings, Inc.(a)		10,215
	43	Eaton Corp. PLC		6,381
	47	Emerson Electric Co.		4,233
	1,403	Fluence Energy, Inc.(a)		19,277
	61	Hubbell, Inc.		13,360
	1,092	Plug Power, Inc.(a)		23,303
	68	Rockwell Automation, Inc.		17,359
	770	Shoals Technologies Group, Inc., Class A(a)		18,195
	952	Sunrun, Inc.(a)		31,121

				149,646

		Electronic Equipment, Instruments & Components — 0.5%
	276	Avnet, Inc.		13,212
	166	Cognex Corp.		8,463
	52	Corning, Inc.		1,912
	33	II-VI, Inc.(a)		1,737
	193	Itron, Inc.(a)		11,271
	14	Keysight Technologies, Inc.(a)		2,276
	34	Littelfuse, Inc.		9,482
		Electronic Equipment, Instruments & Components — continued
	81	TE Connectivity Ltd.		10,832

				59,185

		Energy Equipment & Services — 0.2%
	852	Archrock, Inc.		7,191
	89	Baker Hughes Co.		2,286
	372	ChampionX Corp.		7,771
	122	Schlumberger NV		4,518

				21,766

		Entertainment — 2.1%
	59	Activision Blizzard, Inc.		4,717
	136	Electronic Arts, Inc.		17,847
	504	Netflix, Inc.(a)		113,350
	190	Take-Two Interactive Software, Inc.(a)		25,219
	713	Walt Disney Co. (The)(a)		75,649
	1,095	Warner Bros Discovery, Inc.(a)		16,425

				253,207

		Food & Staples Retailing — 0.5%
	131	BJ’s Wholesale Club Holdings, Inc.(a)		8,869
	11	Costco Wholesale Corp.		5,954
	177	Kroger Co. (The)		8,220
	323	SpartanNash Co.		10,430
	405	Sprouts Farmers Market, Inc.(a)		11,194
	75	Sysco Corp.		6,367
	91	Walgreens Boots Alliance, Inc.		3,605
	51	Walmart, Inc.		6,735

				61,374

		Food Products — 0.4%
	106	Campbell Soup Co.		5,231
	294	Darling Ingredients, Inc.(a)		20,368
	80	General Mills, Inc.		5,983
	164	Hain Celestial Group, Inc. (The)(a)		3,731
	74	Hormel Foods Corp.		3,651
	86	Ingredion, Inc.		7,824
	24	J.M. Smucker Co. (The)		3,176
	42	Kellogg Co.		3,105
	21	McCormick & Co., Inc.		1,835

				54,904

		Gas Utilities — 0.2%
	297	New Jersey Resources Corp.		13,718
	99	ONE Gas, Inc.		8,409

				22,127

		Health Care Equipment & Supplies — 1.0%
	162	Abbott Laboratories		17,632
	37	Becton Dickinson & Co.		9,039
	11	Cooper Cos., Inc. (The)		3,597
	33	DexCom, Inc.(a)		2,709
	79	Edwards Lifesciences Corp.(a)		7,943
	94	Globus Medical, Inc., Class A(a)		5,517
	105	Haemonetics Corp.(a)		7,296
	41	Hologic, Inc.(a)		2,927
	96	Intuitive Surgical, Inc.(a)		22,096
	286	LeMaitre Vascular, Inc.		14,400
	45	Penumbra, Inc.(a)		6,272
	14	ResMed, Inc.		3,367
	43	Shockwave Medical, Inc.(a)		9,070
	11	STERIS PLC		2,482
	17	Stryker Corp.		3,651
	11	Teleflex, Inc.		2,645

				120,643

See accompanying notes to financial statements.

57 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 1.4%
	138	Acadia Healthcare Co., Inc.(a)	$	11,442
	30	Amedisys, Inc.(a)		3,595
	121	Centene Corp.(a)		11,249
	22	Chemed Corp.		10,584
	50	Cigna Corp.		13,768
	63	CVS Health Corp.		6,028
	35	Elevance Health, Inc.		16,698
	85	Encompass Health Corp.		4,303
	42	Enhabit, Inc.(a)		735
	186	HCA Healthcare, Inc.		39,510
	22	Humana, Inc.		10,604
	23	Quest Diagnostics, Inc.		3,141
	238	Select Medical Holdings Corp.		7,050
	123	Tenet Healthcare Corp.(a)		8,133
	35	UnitedHealth Group, Inc.		18,982

				165,822

		Health Care Technology — 0.6%
	413	Allscripts Healthcare Solutions, Inc.(a)		6,534
	936	Doximity, Inc., Class A(a)		39,611
	147	Veeva Systems, Inc., Class A(a)		32,866

				79,011

		Hotels, Restaurants & Leisure — 1.6%
	33	Booking Holdings, Inc.(a)		63,878
	53	Expedia Group, Inc.(a)		5,621
	125	Hilton Worldwide Holdings, Inc.		16,009
	104	Jack in the Box, Inc.		7,190
	35	McDonald’s Corp.		9,218
	430	Starbucks Corp.		36,455
	216	Travel & Leisure Co.		9,312
	499	Yum China Holdings, Inc.		24,306
	157	Yum! Brands, Inc.		19,239

				191,228

		Household Durables — 0.4%
	45	DR Horton, Inc.		3,511
	264	KB Home		8,617
	106	Meritage Homes Corp.(a)		9,360
	516	PulteGroup, Inc.		22,508
	356	Taylor Morrison Home Corp.(a)		10,217

				54,213

		Household Products — 0.4%
	296	Colgate-Palmolive Co.		23,307
	89	Kimberly-Clark Corp.		11,729
	146	Procter & Gamble Co. (The)		20,281

				55,317

		Independent Power & Renewable Electricity Producers — 0.3%
	113	AES Corp. (The)		2,511
	162	NextEra Energy Partners LP		13,404
	605	Sunnova Energy International, Inc.(a)		15,742

				31,657

		Industrial Conglomerates — 0.3%
	40	3M Co.		5,730
	272	General Electric Co.		20,103
	42	Honeywell International, Inc.		8,083

				33,916

		Insurance — 1.6%
	75	Aflac, Inc.		4,297
	43	Allstate Corp. (The)		5,030
	509	American International Group, Inc.		26,351
	47	Chubb Ltd.		8,866
		Insurance — continued
	152	First American Financial Corp.		8,816
	95	Hanover Insurance Group, Inc. (The)		12,965
	74	Marsh & McLennan Cos., Inc.		12,133
	348	Prudential Financial, Inc.		34,797
	276	Reinsurance Group of America, Inc.		31,955
	167	Selective Insurance Group, Inc.		13,003
	37	Travelers Cos., Inc. (The)		5,872
	162	Willis Towers Watson PLC		33,524

				197,609

		Interactive Media & Services — 2.5%
	660	Alphabet, Inc., Class A(a)		76,771
	621	Alphabet, Inc., Class C(a)		72,434
	671	Meta Platforms, Inc., Class A(a)		106,756
	1,679	Pinterest, Inc., Class A(a)		32,707
	330	Twitter, Inc.(a)		13,731

				302,399

		Internet & Direct Marketing Retail — 2.1%
	241	Alibaba Group Holding Ltd., Sponsored ADR(a)		21,538
	1,246	Amazon.com, Inc.(a)		168,148
	976	eBay, Inc.		47,463
	199	Etsy, Inc.(a)		20,640

				257,789

		IT Services — 2.9%
	18	Accenture PLC, Class A		5,513
	28	Automatic Data Processing, Inc.		6,751
	268	Block, Inc.(a)		20,384
	59	Cognizant Technology Solutions Corp., Class A		4,010
	61	Concentrix Corp.		8,159
	426	Fiserv, Inc.(a)		45,020
	114	Gartner, Inc.(a)		30,265
	239	Global Payments, Inc.		29,235
	57	International Business Machines Corp.		7,455
	114	Mastercard, Inc., Class A		40,332
	25	Paychex, Inc.		3,207
	331	PayPal Holdings, Inc.(a)		28,641
	64	Perficient, Inc.(a)		6,753
	469	Shopify, Inc., Class A(a)		16,335
	14	VeriSign, Inc.(a)		2,648
	438	Visa, Inc., Class A		92,904
	45	WEX, Inc.(a)		7,480

				355,092

		Leisure Products — 0.1%
	478	Mattel, Inc.(a)		11,090

		Life Sciences Tools & Services — 0.7%
	50	Agilent Technologies, Inc.		6,705
	49	Danaher Corp.		14,282
	139	Illumina, Inc.(a)		30,118
	10	IQVIA Holdings, Inc.(a)		2,403
	21	PerkinElmer, Inc.		3,217
	50	Repligen Corp.(a)		10,668
	20	Thermo Fisher Scientific, Inc.		11,968
	7	Waters Corp.(a)		2,548

				81,909

		Machinery — 1.3%
	91	AGCO Corp.		9,912
	34	Caterpillar, Inc.		6,740
	29	Chart Industries, Inc.(a)		5,658
	57	Cummins, Inc.		12,615
	70	Deere & Co.		24,022
	41	Illinois Tool Works, Inc.		8,518

See accompanying notes to financial statements.

| 58

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description		Value (†)
		Machinery — continued
	150	ITT, Inc.		$	11,254
	119	Oshkosh Corp.			10,246
	224	PACCAR, Inc.			20,500
	129	Parker-Hannifin Corp.			37,293
	141	Terex Corp.			4,725
	128	Toro Co. (The)			11,007

					162,490

		Media — 1.1%
	8	Cable One, Inc.			11,014
	120	Charter Communications, Inc., Class A(a)			51,852
	1,241	Comcast Corp., Class A			46,562
	174	Interpublic Group of Cos., Inc. (The)			5,197
	163	New York Times Co. (The), Class A			5,208
	211	News Corp., Class A			3,617
	142	News Corp., Class B			2,454
	92	Omnicom Group, Inc.			6,425
	74	Paramount Global, Class B			1,750

					134,079

		Metals & Mining — 0.4%
	100	Alcoa Corp.			5,089
	279	Cleveland-Cliffs, Inc.(a)			4,941
	272	Commercial Metals Co.			10,777
	62	Newmont Corp.			2,808
	20	Nucor Corp.			2,716
	61	Reliance Steel & Aluminum Co.			11,605
	148	Steel Dynamics, Inc.			11,526

					49,462

		Multi-Utilities — 0.2%
	112	Consolidated Edison, Inc.			11,118
	45	DTE Energy Co.			5,864
	27	WEC Energy Group, Inc.			2,803

					19,785

		Multiline Retail — 0.2%
	130	Kohl’s Corp.			3,788
	327	Macy’s, Inc.			5,772
	63	Target Corp.			10,293

					19,853

		Oil, Gas & Consumable Fuels — 2.2%
	987	Antero Midstream Corp.			9,929
	1,233	APA Corp.			45,831
	103	Chevron Corp.			16,869
	631	CNX Resources Corp.(a)			10,897
	446	ConocoPhillips			43,454
	126	Diamondback Energy, Inc.			16,131
	500	EOG Resources, Inc.			55,610
	218	EQT Corp.			9,599
	218	Exxon Mobil Corp.	��		21,131
	152	HF Sinclair Corp.			7,269
	184	Kinder Morgan, Inc.			3,310
	171	Marathon Oil Corp.			4,241
	39	Occidental Petroleum Corp.			2,564
	261	Range Resources Corp.(a)			8,631
	988	Southwestern Energy Co.(a)			6,975
	37	Valero Energy Corp.			4,098

					266,539

		Paper & Forest Products — 0.0%
	91	Louisiana-Pacific Corp.			5,790

		Pharmaceuticals — 1.8%
	379	Bristol-Myers Squibb Co.			27,963
		Pharmaceuticals — continued
	38	Eli Lilly & Co.			12,528
	65	Jazz Pharmaceuticals PLC(a)			10,144
	125	Johnson & Johnson			21,815
	251	Merck & Co., Inc.			22,424
	513	Novartis AG, Sponsored ADR			44,031
	190	Novo Nordisk A/S, Sponsored ADR			22,051
	150	Perrigo Co. PLC			6,281
	279	Pfizer, Inc.			14,092
	770	Roche Holding AG, Sponsored ADR			31,932
	29	Zoetis, Inc.			5,294

					218,555

		Professional Services — 0.5%
	140	Equifax, Inc.			29,247
	120	Exponent, Inc.			12,059
	120	Korn Ferry			7,861
	73	ManpowerGroup, Inc.			5,724
	54	Verisk Analytics, Inc.			10,274

					65,165

		Real Estate Management & Development — 0.4%
	420	CBRE Group, Inc., Class A(a)			35,960
	61	Jones Lang LaSalle, Inc.(a)			11,631

					47,591

		REITs – Apartments — 0.4%
	220	American Campus Communities, Inc.			14,370
	90	AvalonBay Communities, Inc.			19,255
	74	Equity Residential			5,801
	34	Essex Property Trust, Inc.			9,742

					49,168

		REITs – Diversified — 0.5%
	710	American Assets Trust, Inc.			21,463
	53	American Tower Corp.			14,354
	43	Crown Castle International Corp.			7,768
	22	Digital Realty Trust, Inc.			2,914
	6	Equinix, Inc.			4,223
	158	VICI Properties, Inc.			5,402
	150	Weyerhaeuser Co.			5,448

					61,572

		REITs – Health Care — 0.2%
	47	Ventas, Inc.			2,528
	246	Welltower, Inc.			21,239

					23,767

		REITs – Hotels — 0.0%
	143	Host Hotels & Resorts, Inc.			2,547

		REITs – Mortgage — 0.1%
	246	Hannon Armstrong Sustainable Infrastructure Capital, Inc.			8,878

		REITs – Office Property — 0.6%
	131	Alexandria Real Estate Equities, Inc.			21,717
	1,095	Brandywine Realty Trust			10,238
	538	Corporate Office Properties Trust			15,145
	373	Douglas Emmett, Inc.			8,818
	486	Easterly Government Properties, Inc.			9,851
	166	Kilroy Realty Corp.			8,994

					74,763

		REITs – Shopping Centers — 0.2%
	887	Brixmor Property Group, Inc.			20,561

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

See accompanying notes to financial statements.

59 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — 0.8%
	27	Avis Budget Group, Inc.(a)	$	4,915
	267	Canadian Pacific Railway Ltd.		21,058
	279	CSX Corp.		9,020
	103	Norfolk Southern Corp.		25,871
	94	Ryder System, Inc.		7,362
	107	Union Pacific Corp.		24,321

				92,547

		Semiconductors & Semiconductor Equipment — 2.7%
	121	Advanced Micro Devices, Inc.(a)		11,431
	39	Analog Devices, Inc.		6,706
	40	Broadcom, Inc.		21,419
	92	Cirrus Logic, Inc.(a)		7,862
	134	Enphase Energy, Inc.(a)		38,080
	77	First Solar, Inc.(a)		7,636
	210	Intel Corp.		7,625
	203	Lattice Semiconductor Corp.(a)		12,485
	75	Micron Technology, Inc.		4,640
	695	NVIDIA Corp.		126,233
	280	QUALCOMM, Inc.		40,617
	82	Silicon Laboratories, Inc.(a)		12,093
	40	Synaptics, Inc.(a)		5,798
	44	Texas Instruments, Inc.		7,871
	51	Universal Display Corp.		5,888
	92	Wolfspeed, Inc.(a)		7,664

				324,048

		Software — 4.4%
	69	Adobe, Inc.(a)		28,298
	19	ANSYS, Inc.(a)		5,301
	26	Aspen Technology, Inc.(a)		5,306
	331	Autodesk, Inc.(a)		71,602
	70	Blackbaud, Inc.(a)		4,292
	20	Citrix Systems, Inc.		2,028
	142	CommVault Systems, Inc.(a)		7,965
	20	Fair Isaac Corp.(a)		9,241
	98	Fortinet, Inc.(a)		5,846
	335	Microsoft Corp.		94,048
	123	NortonLifeLock, Inc.		3,017
	1,435	Oracle Corp.		111,700
	48	Paylocity Holding Corp.(a)		9,885
	63	Qualys, Inc.(a)		7,706
	549	Salesforce, Inc.(a)		101,027
	30	ServiceNow, Inc.(a)		13,400
	79	SPS Commerce, Inc.(a)		9,461
	319	Workday, Inc., Class A(a)		49,477

				539,600

		Specialty Retail — 0.8%
	29	Asbury Automotive Group, Inc.(a)		4,978
	3	AutoZone, Inc.(a)		6,412
	18	Best Buy Co., Inc.		1,386
	96	Boot Barn Holdings, Inc.(a)		5,981
	60	Five Below, Inc.(a)		7,624
	104	GameStop Corp., Class A(a)		3,537
	85	Home Depot, Inc. (The)		25,580
	29	Lithia Motors, Inc.		7,693
	57	Lowe’s Cos., Inc.		10,917
	80	TJX Cos., Inc. (The)		4,893
	11	Tractor Supply Co.		2,106
	6	Ulta Beauty, Inc.(a)		2,333
	63	Williams-Sonoma, Inc.		9,099

				92,539

		Technology Hardware, Storage & Peripherals — 0.1%
	180	Hewlett Packard Enterprise Co.		2,563
	120	HP, Inc.		4,007

				6,570

		Textiles, Apparel & Luxury Goods — 0.5%
	53	Crocs, Inc.(a)		3,797
	37	Deckers Outdoor Corp.(a)		11,589
	225	NIKE, Inc., Class B		25,857
	1,844	Under Armour, Inc., Class A(a)		17,075
	48	VF Corp.		2,145

				60,463

		Thrifts & Mortgage Finance — 0.2%
	1,447	MGIC Investment Corp.		20,461
	206	Mr. Cooper Group, Inc.(a)		9,280

				29,741

		Trading Companies & Distributors — 0.1%
	61	GATX Corp.		6,115

		Water Utilities — 0.2%
	97	American States Water Co.		8,456
	51	American Water Works Co., Inc.		7,927
	203	Essential Utilities, Inc.		10,544

				26,927

		Wireless Telecommunication Services — 0.0%
	34	T-Mobile US, Inc.(a)		4,864

		Total Common Stocks (Identified Cost $7,143,198)		6,903,260


Principal Amount
	Bonds and Notes — 4.1%
		Automotive — 0.1%
$	4,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		3,934
	1,000	Lear Corp., 4.250%, 5/15/2029		940
	3,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		2,687

				7,561

		Banking — 0.6%
	7,000	American Express Co., 3.700%, 8/03/2023		7,029
	5,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		4,829
	4,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		4,030
	3,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		2,998
	6,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		5,471
	5,000	Citigroup, Inc., 4.600%, 3/09/2026		5,091
	4,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		3,998
	5,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		4,927
	5,000	KeyCorp, MTN, 2.550%, 10/01/2029		4,444
	3,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		2,866
	3,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		3,006
	3,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		2,709
	7,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		6,736
	3,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		2,940
	3,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		2,969
	4,000	State Street Corp., 2.400%, 1/24/2030		3,604
	3,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		2,594

See accompanying notes to financial statements.

| 60

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Principal Amount		Description	Value (†)
		Banking — continued
$	5,000	Truist Bank, 3.200%, 4/01/2024	$	4,998
	5,000	Westpac Banking Corp., 2.350%, 2/19/2025		4,877

				80,116

		Brokerage — 0.1%
	5,000	BlackRock, Inc., 2.400%, 4/30/2030		4,542
	6,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		4,653

				9,195

		Building Materials — 0.1%
	3,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		2,752
	5,000	Owens Corning, 3.950%, 8/15/2029		4,766

				7,518

		Chemicals — 0.0%
	1,000	LYB International Finance BV, 5.250%, 7/15/2043		973

		Diversified Manufacturing — 0.1%
	6,000	3M Co., 3.050%, 4/15/2030		5,692
	3,000	Emerson Electric Co., 2.000%, 12/21/2028		2,738

				8,430

		Electric — 0.2%
	4,000	Duke Energy Corp., 3.750%, 4/15/2024		4,016
	6,000	Entergy Corp., 0.900%, 9/15/2025		5,464
	3,000	Exelon Corp., 4.050%, 4/15/2030		2,975
	5,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		4,398
	2,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		1,844
	1,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		865
	4,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		3,967

				23,529

		Environmental — 0.0%
	3,000	Republic Services, Inc., 1.450%, 2/15/2031		2,477
	1,000	Waste Management, Inc., 2.950%, 6/01/2041		815

				3,292

		Finance Companies — 0.1%
	5,000	Ares Capital Corp., 3.250%, 7/15/2025		4,715
	3,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		2,623

				7,338

		Food & Beverage — 0.2%
	8,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		7,456
	5,000	General Mills, Inc., 4.000%, 4/17/2025		5,063
	3,000	Mondelez International, Inc., 2.750%, 4/13/2030		2,736
	5,000	PepsiCo, Inc., 2.750%, 3/19/2030		4,766

				20,021

		Government Owned – No Guarantee — 0.1%
	4,000	Equinor ASA, 3.625%, 4/06/2040		3,670
	7,000	Federal National Mortgage Association, 6.625%, 11/15/2030		8,862

				12,532

		Health Insurance — 0.1%
	5,000	Elevance Health, Inc., 4.101%, 3/01/2028		5,070
	4,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		4,698

				9,768

		Healthcare — 0.1%
	2,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		2,043
	5,000	Cigna Corp., 3.750%, 7/15/2023		5,009
	1,000	CVS Health Corp., 4.300%, 3/25/2028		1,016
	3,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		2,904
		Healthcare — continued
	2,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		1,983
	3,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		2,748

				15,703

		Integrated Energy — 0.1%
	5,000	Exxon Mobil Corp., 2.992%, 3/19/2025		4,980
	4,000	Shell International Finance BV, 6.375%, 12/15/2038		4,816

				9,796

		Life Insurance — 0.0%
	1,000	Athene Holding Ltd., 6.150%, 4/03/2030		1,037

		Mortgage Related — 0.8%
	18,282	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		17,066
	10,132	FHLMC, 3.000%, with various maturities from 2049 to 2052(b)		9,764
	4,928	FHLMC, 3.500%, 5/01/2052		4,880
	21,395	FNMA, 2.000%, with various maturities in 2051(b)		19,288
	19,682	FNMA, 2.500%, with various maturities in 2051(b)		18,391
	20,303	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		19,631
	14,583	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		14,453
	439	FNMA, 4.000%, 3/01/2050		443
	507	FNMA, 4.500%, with various maturities in 2049(b)		521

				104,437

		Natural Gas — 0.0%
	6,000	NiSource, Inc., 0.950%, 8/15/2025		5,492

		Pharmaceuticals — 0.1%
	5,000	AbbVie, Inc., 3.600%, 5/14/2025		5,001
	2,000	Biogen, Inc., 2.250%, 5/01/2030		1,709
	5,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		4,952
	2,000	Viatris, Inc., 3.850%, 6/22/2040		1,459

				13,121

		Property & Casualty Insurance — 0.0%
	1,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		898

		Railroads — 0.0%
	5,000	CSX Corp., 2.600%, 11/01/2026		4,860

		REITs – Apartments — 0.0%
	2,000	Essex Portfolio LP, 3.000%, 1/15/2030		1,806

		REITs – Health Care — 0.0%
	2,000	Welltower, Inc., 2.800%, 6/01/2031		1,734

		REITs – Office Property — 0.1%
	5,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		4,974
	3,000	Boston Properties LP, 2.750%, 10/01/2026		2,845
	5,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		4,242

				12,061

		REITs – Single Tenant — 0.0%
	1,000	Realty Income Corp., 3.400%, 1/15/2028		967
	1,000	Spirit Realty LP, 2.700%, 2/15/2032		806

				1,773

		REITs – Warehouse/Industrials — 0.0%
	3,000	Prologis LP, 1.250%, 10/15/2030		2,469

		Restaurants — 0.0%
	5,000	Starbucks Corp., 2.250%, 3/12/2030		4,396

		Retailers — 0.1%
	5,000	Amazon.com, Inc., 3.875%, 8/22/2037		5,035
	6,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		5,276

				10,311

See accompanying notes to financial statements.

61 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2045 Fund – (continued)


Principal Amount		Description	Value (†)
		Technology — 0.2%
$	4,000	Apple, Inc., 2.500%, 2/09/2025	$	3,964
	4,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		3,792
	3,000	Intel Corp., 2.450%, 11/15/2029		2,766
	5,000	International Business Machines Corp., 4.000%, 6/20/2042		4,558
	3,000	NVIDIA Corp., 2.850%, 4/01/2030		2,862
	4,000	Oracle Corp., 2.950%, 5/15/2025		3,900
	5,000	QUALCOMM, Inc., 1.650%, 5/20/2032		4,235

				26,077

		Treasuries — 0.7%
	5,000	U.S. Treasury Bond, 2.250%, 5/15/2041		4,280
	5,000	U.S. Treasury Bond, 2.500%, 5/15/2046		4,334
	12,000	U.S. Treasury Bond, 2.875%, 11/15/2046		11,159
	13,000	U.S. Treasury Bond, 3.000%, 5/15/2045		12,316
	7,000	U.S. Treasury Bond, 3.000%, 2/15/2048		6,734
	9,000	U.S. Treasury Bond, 3.000%, 2/15/2049		8,775
	18,000	U.S. Treasury Note, 0.375%, 11/30/2025		16,615
	16,000	U.S. Treasury Note, 2.125%, 12/31/2022		15,955

				80,168

		Utility Other — 0.1%
	7,000	Essential Utilities, Inc., 4.276%, 5/01/2049		6,325

		Wireless — 0.0%
	5,000	Vodafone Group PLC, 6.150%, 2/27/2037		5,565

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		1,630
	5,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		4,989

				6,619

		Total Bonds and Notes (Identified Cost $549,111)		504,921


Shares
	Exchange-Traded Funds — 7.9%
	14,674	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $1,111,455)		971,566


	Mutual Funds — 13.0%
	44,565	WCM Focused Emerging Markets Fund, Institutional Class		590,936
	47,583	WCM Focused International Growth Fund, Institutional Class		990,671

		Total Mutual Funds (Identified Cost $1,978,743)		1,581,607


	Affiliated Mutual Funds — 15.1%
	26,105	Loomis Sayles Inflation Protected Securities Fund, Class N		281,156
	17,487	Loomis Sayles Limited Term Government and Agency Fund, Class N		191,829
	43,830	Mirova Global Green Bond Fund, Class N		393,592
	87,198	Mirova International Sustainable Equity Fund, Class N		975,746

		Total Affiliated Mutual Funds (Identified Cost $2,150,098)		1,842,323


Principal Amount		Description	Value (†)
	Short-Term Investments — 3.5%
$	424,001	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $424,024 on 8/01/2022 collateralized by $430,800 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $432,988 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $424,001)	$	424,001


		Total Investments — 100.2% (Identified Cost $13,356,606)		12,227,678
		Other assets less liabilities — (0.2)%		(30,399	)

		Net Assets — 100.0%	$	12,197,279


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $6,658 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, 2022 (Unaudited)


Equity	85.5	%
Fixed Income	11.2
Short-Term Investments	3.5

Total Investments	100.2
Other assets less liabilities	(0.2	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 62

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund


Shares		Description	Value (†)
	Common Stocks — 58.8% of Net Assets
		Aerospace & Defense — 1.0%
	209	AAR Corp.(a)	$	9,307
	44	Axon Enterprise, Inc.(a)		4,848
	409	Boeing Co. (The)(a)		65,158
	7	L3Harris Technologies, Inc.		1,680
	14	Lockheed Martin Corp.		5,793
	65	Moog, Inc., Class A		5,567
	8	Northrop Grumman Corp.		3,831
	129	Raytheon Technologies Corp.		12,024

				108,208

		Air Freight & Logistics — 0.3%
	209	Expeditors International of Washington, Inc.		22,206
	15	FedEx Corp.		3,496
	77	GXO Logistics, Inc.(a)		3,696
	28	United Parcel Service, Inc., Class B		5,457

				34,855

		Airlines — 0.1%
	198	Delta Air Lines, Inc.(a)		6,296
	654	JetBlue Airways Corp.(a)		5,507

				11,803

		Auto Components — 0.4%
	655	BorgWarner, Inc.		25,191
	441	Dana, Inc.		7,391
	80	Dorman Products, Inc.(a)		8,087
	56	Visteon Corp.(a)		7,145

				47,814

		Automobiles — 1.3%
	1,050	General Motors Co.(a)		38,073
	106	Tesla, Inc.(a)		94,494
	58	Thor Industries, Inc.		4,891

				137,458

		Banks — 2.6%
	323	Ameris Bancorp		15,275
	764	Bank of America Corp.		25,831
	295	Cadence Bank		7,699
	857	Citigroup, Inc.		44,478
	170	Citizens Financial Group, Inc.		6,455
	63	Fifth Third Bancorp		2,150
	1,471	FNB Corp.		17,593
	1,026	Fulton Financial Corp.		17,124
	184	Huntington Bancshares, Inc.		2,445
	276	International Bancshares Corp.		12,105
	63	JPMorgan Chase & Co.		7,268
	295	KeyCorp		5,399
	20	M&T Bank Corp.		3,549
	41	PNC Financial Services Group, Inc. (The)		6,804
	248	Regions Financial Corp.		5,253
	10	Signature Bank		1,856
	8	SVB Financial Group(a)		3,228
	304	Truist Financial Corp.		15,343
	428	Trustmark Corp.		13,897
	143	U.S. Bancorp		6,750
	261	Webster Financial Corp.		12,123
	751	Wells Fargo & Co.		32,946
	109	Wintrust Financial Corp.		9,378

				274,949

		Beverages — 1.2%
	50	Boston Beer Co., Inc. (The), Class A(a)		19,021
	290	Coca-Cola Co. (The)		18,609
		Beverages — continued
	48	Keurig Dr Pepper, Inc.		1,860
	743	Monster Beverage Corp.(a)		74,018
	71	PepsiCo, Inc.		12,422

				125,930

		Biotechnology — 1.8%
	114	AbbVie, Inc.		16,360
	239	Alnylam Pharmaceuticals, Inc.(a)		33,948
	51	Amgen, Inc.		12,621
	146	Arrowhead Pharmaceuticals, Inc.(a)		6,209
	37	Biogen, Inc.(a)		7,957
	183	BioMarin Pharmaceutical, Inc.(a)		15,747
	263	CRISPR Therapeutics AG(a)		19,725
	41	Gilead Sciences, Inc.		2,450
	180	Halozyme Therapeutics, Inc.(a)		8,802
	38	Moderna, Inc.(a)		6,235
	74	Neurocrine Biosciences, Inc.(a)		6,966
	92	Regeneron Pharmaceuticals, Inc.(a)		53,516

				190,536

		Building Products — 0.7%
	115	Builders FirstSource, Inc.(a)		7,820
	45	Carlisle Cos., Inc.		13,324
	82	Carrier Global Corp.		3,323
	45	Johnson Controls International PLC		2,426
	45	Lennox International, Inc.		10,779
	328	Masco Corp.		18,165
	133	Owens Corning		12,334
	82	Trex Co., Inc.(a)		5,291

				73,462

		Capital Markets — 3.6%
	17	Ameriprise Financial, Inc.		4,589
	639	Bank of New York Mellon Corp. (The)		27,771
	14	BlackRock, Inc.		9,369
	639	Charles Schwab Corp. (The)		44,123
	26	CME Group, Inc.		5,186
	65	FactSet Research Systems, Inc.		27,929
	96	Goldman Sachs Group, Inc. (The)		32,005
	274	Intercontinental Exchange, Inc.		27,945
	212	Janus Henderson Group PLC		5,463
	777	KKR & Co., Inc.		43,092
	95	Moody’s Corp.		29,474
	99	Morgan Stanley		8,346
	53	MSCI, Inc.		25,511
	26	Northern Trust Corp.		2,594
	60	S&P Global, Inc.		22,616
	402	SEI Investments Co.		22,255
	494	State Street Corp.		35,094
	41	Virtus Investment Partners, Inc.		8,459

				381,821

		Chemicals — 0.4%
	17	Air Products & Chemicals, Inc.		4,220
	37	DuPont de Nemours, Inc.		2,265
	114	HB Fuller Co.		7,319
	82	Innospec, Inc.		8,364
	29	Linde PLC		8,758
	100	Minerals Technologies, Inc.		6,681
	55	Stepan Co.		6,172

				43,779

		Commercial Services & Supplies — 0.4%
	59	MSA Safety, Inc.		7,572
	74	Tetra Tech, Inc.		11,342

See accompanying notes to financial statements.

63 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	119	Viad Corp.(a)	$	4,019
	102	Waste Management, Inc.		16,785

				39,718

		Communications Equipment — 0.1%
	139	Ciena Corp.(a)		7,172
	78	Lumentum Holdings, Inc.(a)		7,056

				14,228

		Construction & Engineering — 0.2%
	241	AECOM		17,352

		Consumer Finance — 1.0%
	1,335	Ally Financial, Inc.		44,149
	161	American Express Co.		24,797
	280	Capital One Financial Corp.		30,752
	167	Green Dot Corp., Class A(a)		4,693

				104,391

		Containers & Packaging — 0.2%
	29	Ball Corp.		2,129
	62	International Paper Co.		2,652
	200	Sonoco Products Co.		12,698

				17,479

		Distributors — 0.1%
	56	Genuine Parts Co.		8,561

		Diversified Consumer Services — 0.2%
	103	Grand Canyon Education, Inc.(a)		9,895
	150	Service Corp. International		11,169

				21,064

		Diversified Telecommunication Services — 0.1%
	168	AT&T, Inc.		3,155
	213	Lumen Technologies, Inc.		2,319
	98	Verizon Communications, Inc.		4,527

				10,001

		Electric Utilities — 0.6%
	159	American Electric Power Co., Inc.		15,671
	181	Edison International		12,266
	198	Eversource Energy		17,468
	78	IDACORP, Inc.		8,714
	130	NextEra Energy, Inc.		10,984

				65,103

		Electrical Equipment — 1.3%
	31	Acuity Brands, Inc.		5,654
	611	ChargePoint Holdings, Inc.(a)		9,232
	39	Eaton Corp. PLC		5,787
	43	Emerson Electric Co.		3,873
	1,274	Fluence Energy, Inc.(a)		17,505
	57	Hubbell, Inc.		12,484
	981	Plug Power, Inc.(a)		20,935
	53	Rockwell Automation, Inc.		13,530
	690	Shoals Technologies Group, Inc., Class A(a)		16,305
	861	Sunrun, Inc.(a)		28,146

				133,451

		Electronic Equipment, Instruments & Components — 0.5%
	251	Avnet, Inc.		12,015
	150	Cognex Corp.		7,647
	48	Corning, Inc.		1,765
	30	II-VI, Inc.(a)		1,579
	173	Itron, Inc.(a)		10,103
	13	Keysight Technologies, Inc.(a)		2,114
	31	Littelfuse, Inc.		8,645
		Electronic Equipment, Instruments & Components — continued
	73	TE Connectivity Ltd.		9,762

				53,630

		Energy Equipment & Services — 0.2%
	771	Archrock, Inc.		6,507
	78	Baker Hughes Co.		2,004
	337	ChampionX Corp.		7,040
	114	Schlumberger NV		4,221

				19,772

		Entertainment — 2.2%
	54	Activision Blizzard, Inc.		4,317
	123	Electronic Arts, Inc.		16,141
	454	Netflix, Inc.(a)		102,105
	171	Take-Two Interactive Software, Inc.(a)		22,697
	640	Walt Disney Co. (The)(a)		67,904
	962	Warner Bros Discovery, Inc.(a)		14,430

				227,594

		Food & Staples Retailing — 0.5%
	122	BJ’s Wholesale Club Holdings, Inc.(a)		8,259
	9	Costco Wholesale Corp.		4,872
	154	Kroger Co. (The)		7,152
	217	SpartanNash Co.		7,007
	292	Sprouts Farmers Market, Inc.(a)		8,071
	68	Sysco Corp.		5,773
	88	Walgreens Boots Alliance, Inc.		3,487
	47	Walmart, Inc.		6,206

				50,827

		Food Products — 0.5%
	98	Campbell Soup Co.		4,836
	263	Darling Ingredients, Inc.(a)		18,221
	71	General Mills, Inc.		5,310
	158	Hain Celestial Group, Inc. (The)(a)		3,595
	62	Hormel Foods Corp.		3,059
	78	Ingredion, Inc.		7,097
	20	J.M. Smucker Co. (The)		2,646
	36	Kellogg Co.		2,661
	20	McCormick & Co., Inc.		1,747

				49,172

		Gas Utilities — 0.2%
	274	New Jersey Resources Corp.		12,656
	89	ONE Gas, Inc.		7,560

				20,216

		Health Care Equipment & Supplies — 1.0%
	146	Abbott Laboratories		15,891
	35	Becton Dickinson & Co.		8,551
	11	Cooper Cos., Inc. (The)		3,597
	30	DexCom, Inc.(a)		2,462
	72	Edwards Lifesciences Corp.(a)		7,239
	83	Globus Medical, Inc., Class A(a)		4,871
	95	Haemonetics Corp.(a)		6,602
	34	Hologic, Inc.(a)		2,427
	84	Intuitive Surgical, Inc.(a)		19,334
	260	LeMaitre Vascular, Inc.		13,091
	41	Penumbra, Inc.(a)		5,715
	13	ResMed, Inc.		3,127
	40	Shockwave Medical, Inc.(a)		8,437
	10	STERIS PLC		2,256
	15	Stryker Corp.		3,221
	9	Teleflex, Inc.		2,164

				108,985

See accompanying notes to financial statements.

| 64

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — 1.4%
	126	Acadia Healthcare Co., Inc.(a)	$	10,447
	29	Amedisys, Inc.(a)		3,476
	111	Centene Corp.(a)		10,320
	21	Chemed Corp.		10,103
	45	Cigna Corp.		12,391
	57	CVS Health Corp.		5,454
	32	Elevance Health, Inc.		15,267
	77	Encompass Health Corp.		3,898
	38	Enhabit, Inc.(a)		665
	167	HCA Healthcare, Inc.		35,474
	20	Humana, Inc.		9,640
	20	Quest Diagnostics, Inc.		2,731
	215	Select Medical Holdings Corp.		6,368
	111	Tenet Healthcare Corp.(a)		7,339
	35	UnitedHealth Group, Inc.		18,982

				152,555

		Health Care Technology — 0.7%
	383	Allscripts Healthcare Solutions, Inc.(a)		6,059
	825	Doximity, Inc., Class A(a)		34,914
	131	Veeva Systems, Inc., Class A(a)		29,289

				70,262

		Hotels, Restaurants & Leisure — 1.6%
	29	Booking Holdings, Inc.(a)		56,135
	48	Expedia Group, Inc.(a)		5,090
	112	Hilton Worldwide Holdings, Inc.		14,344
	92	Jack in the Box, Inc.		6,361
	31	McDonald’s Corp.		8,165
	378	Starbucks Corp.		32,047
	194	Travel & Leisure Co.		8,363
	436	Yum China Holdings, Inc.		21,238
	136	Yum! Brands, Inc.		16,665

				168,408

		Household Durables — 0.5%
	41	DR Horton, Inc.		3,199
	237	KB Home		7,736
	93	Meritage Homes Corp.(a)		8,212
	464	PulteGroup, Inc.		20,239
	320	Taylor Morrison Home Corp.(a)		9,184

				48,570

		Household Products — 0.5%
	267	Colgate-Palmolive Co.		21,024
	80	Kimberly-Clark Corp.		10,543
	134	Procter & Gamble Co. (The)		18,614

				50,181

		Independent Power & Renewable Electricity Producers — 0.3%
	103	AES Corp. (The)		2,289
	146	NextEra Energy Partners LP		12,080
	549	Sunnova Energy International, Inc.(a)		14,285

				28,654

		Industrial Conglomerates — 0.3%
	35	3M Co.		5,013
	245	General Electric Co.		18,108
	39	Honeywell International, Inc.		7,506

				30,627

		Insurance — 1.7%
	69	Aflac, Inc.		3,954
	41	Allstate Corp. (The)		4,796
	459	American International Group, Inc.		23,762
	42	Chubb Ltd.		7,923
		Insurance — continued
	136	First American Financial Corp.		7,888
	87	Hanover Insurance Group, Inc. (The)		11,873
	67	Marsh & McLennan Cos., Inc.		10,985
	315	Prudential Financial, Inc.		31,497
	228	Reinsurance Group of America, Inc.		26,398
	154	Selective Insurance Group, Inc.		11,991
	36	Travelers Cos., Inc. (The)		5,713
	146	Willis Towers Watson PLC		30,213

				176,993

		Interactive Media & Services — 2.6%
	600	Alphabet, Inc., Class A(a)		69,792
	546	Alphabet, Inc., Class C(a)		63,685
	600	Meta Platforms, Inc., Class A(a)		95,460
	1,511	Pinterest, Inc., Class A(a)		29,434
	296	Twitter, Inc.(a)		12,317

				270,688

		Internet & Direct Marketing Retail — 2.2%
	216	Alibaba Group Holding Ltd., Sponsored ADR(a)		19,304
	1,100	Amazon.com, Inc.(a)		148,445
	878	eBay, Inc.		42,697
	179	Etsy, Inc.(a)		18,566

				229,012

		IT Services — 3.0%
	17	Accenture PLC, Class A		5,206
	26	Automatic Data Processing, Inc.		6,269
	237	Block, Inc.(a)		18,026
	50	Cognizant Technology Solutions Corp., Class A		3,398
	57	Concentrix Corp.		7,624
	383	Fiserv, Inc.(a)		40,476
	103	Gartner, Inc.(a)		27,344
	215	Global Payments, Inc.		26,299
	53	International Business Machines Corp.		6,932
	108	Mastercard, Inc., Class A		38,209
	24	Paychex, Inc.		3,079
	300	PayPal Holdings, Inc.(a)		25,959
	57	Perficient, Inc.(a)		6,015
	424	Shopify, Inc., Class A(a)		14,768
	14	VeriSign, Inc.(a)		2,648
	391	Visa, Inc., Class A		82,935
	41	WEX, Inc.(a)		6,815

				322,002

		Leisure Products — 0.1%
	434	Mattel, Inc.(a)		10,069

		Life Sciences Tools & Services — 0.7%
	44	Agilent Technologies, Inc.		5,900
	39	Danaher Corp.		11,367
	126	Illumina, Inc.(a)		27,302
	9	IQVIA Holdings, Inc.(a)		2,163
	18	PerkinElmer, Inc.		2,757
	44	Repligen Corp.(a)		9,388
	17	Thermo Fisher Scientific, Inc.		10,173
	6	Waters Corp.(a)		2,184

				71,234

		Machinery — 1.4%
	61	AGCO Corp.		6,644
	32	Caterpillar, Inc.		6,344
	26	Chart Industries, Inc.(a)		5,072
	52	Cummins, Inc.		11,508
	64	Deere & Co.		21,964
	37	Illinois Tool Works, Inc.		7,687

See accompanying notes to financial statements.

65 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	139	ITT, Inc.	$	10,429
	110	Oshkosh Corp.		9,471
	202	PACCAR, Inc.		18,487
	115	Parker-Hannifin Corp.		33,246
	128	Terex Corp.		4,289
	121	Toro Co. (The)		10,405

				145,546

		Media — 1.1%
	7	Cable One, Inc.		9,637
	108	Charter Communications, Inc., Class A(a)		46,667
	1,116	Comcast Corp., Class A		41,872
	165	Interpublic Group of Cos., Inc. (The)		4,928
	148	New York Times Co. (The), Class A		4,729
	188	News Corp., Class A		3,222
	125	News Corp., Class B		2,160
	83	Omnicom Group, Inc.		5,797
	62	Paramount Global, Class B		1,466

				120,478

		Metals & Mining — 0.4%
	93	Alcoa Corp.		4,733
	261	Cleveland-Cliffs, Inc.(a)		4,622
	182	Commercial Metals Co.		7,211
	55	Newmont Corp.		2,490
	16	Nucor Corp.		2,173
	56	Reliance Steel & Aluminum Co.		10,654
	131	Steel Dynamics, Inc.		10,202

				42,085

		Multi-Utilities — 0.2%
	101	Consolidated Edison, Inc.		10,026
	41	DTE Energy Co.		5,343
	26	WEC Energy Group, Inc.		2,699

				18,068

		Multiline Retail — 0.2%
	122	Kohl’s Corp.		3,555
	296	Macy’s, Inc.		5,225
	56	Target Corp.		9,149

				17,929

		Oil, Gas & Consumable Fuels — 2.2%
	670	Antero Midstream Corp.		6,740
	1,107	APA Corp.		41,147
	93	Chevron Corp.		15,232
	463	CNX Resources Corp.(a)		7,996
	401	ConocoPhillips		39,069
	114	Diamondback Energy, Inc.		14,594
	450	EOG Resources, Inc.		50,049
	190	EQT Corp.		8,366
	197	Exxon Mobil Corp.		19,095
	139	HF Sinclair Corp.		6,647
	172	Kinder Morgan, Inc.		3,094
	157	Marathon Oil Corp.		3,894
	35	Occidental Petroleum Corp.		2,301
	228	Range Resources Corp.(a)		7,540
	865	Southwestern Energy Co.(a)		6,107
	35	Valero Energy Corp.		3,877

				235,748

		Paper & Forest Products — 0.0%
	81	Louisiana-Pacific Corp.		5,154

		Pharmaceuticals — 1.9%
	339	Bristol-Myers Squibb Co.		25,011
	35	Eli Lilly & Co.		11,539
		Pharmaceuticals — continued
	60	Jazz Pharmaceuticals PLC(a)		9,364
	114	Johnson & Johnson		19,895
	228	Merck & Co., Inc.		20,370
	459	Novartis AG, Sponsored ADR		39,396
	165	Novo Nordisk A/S, Sponsored ADR		19,150
	136	Perrigo Co. PLC		5,694
	253	Pfizer, Inc.		12,779
	672	Roche Holding AG, Sponsored ADR		27,868
	27	Zoetis, Inc.		4,929

				195,995

		Professional Services — 0.5%
	126	Equifax, Inc.		26,323
	111	Exponent, Inc.		11,154
	107	Korn Ferry		7,010
	64	ManpowerGroup, Inc.		5,018
	37	Verisk Analytics, Inc.		7,039

				56,544

		Real Estate Management & Development — 0.4%
	378	CBRE Group, Inc., Class A(a)		32,365
	57	Jones Lang LaSalle, Inc.(a)		10,868

				43,233

		REITs – Apartments — 0.4%
	203	American Campus Communities, Inc.		13,260
	92	AvalonBay Communities, Inc.		19,683
	70	Equity Residential		5,487
	31	Essex Property Trust, Inc.		8,882

				47,312

		REITs – Diversified — 0.5%
	583	American Assets Trust, Inc.		17,624
	48	American Tower Corp.		13,000
	44	Crown Castle International Corp.		7,949
	20	Digital Realty Trust, Inc.		2,649
	5	Equinix, Inc.		3,519
	140	VICI Properties, Inc.		4,786
	153	Weyerhaeuser Co.		5,557

				55,084

		REITs – Health Care — 0.2%
	44	Ventas, Inc.		2,366
	222	Welltower, Inc.		19,168

				21,534

		REITs – Hotels — 0.0%
	133	Host Hotels & Resorts, Inc.		2,369

		REITs – Mortgage — 0.1%
	221	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		7,976

		REITs – Office Property — 0.6%
	118	Alexandria Real Estate Equities, Inc.		19,562
	964	Brandywine Realty Trust		9,013
	496	Corporate Office Properties Trust		13,962
	328	Douglas Emmett, Inc.		7,754
	461	Easterly Government Properties, Inc.		9,345
	145	Kilroy Realty Corp.		7,856

				67,492

		REITs – Shopping Centers — 0.2%
	818	Brixmor Property Group, Inc.		18,961

		REITs – Warehouse/Industrials — 0.1%
	77	ProLogis, Inc.		10,207

See accompanying notes to financial statements.

| 66

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Shares		Description	Value (†)
		Road & Rail — 0.8%
	24	Avis Budget Group, Inc.(a)	$	4,369
	243	Canadian Pacific Railway Ltd.		19,165
	234	CSX Corp.		7,565
	95	Norfolk Southern Corp.		23,861
	84	Ryder System, Inc.		6,579
	97	Union Pacific Corp.		22,048

				83,587

		Semiconductors & Semiconductor Equipment — 2.7%
	110	Advanced Micro Devices, Inc.(a)		10,392
	36	Analog Devices, Inc.		6,190
	36	Broadcom, Inc.		19,277
	82	Cirrus Logic, Inc.(a)		7,008
	120	Enphase Energy, Inc.(a)		34,102
	70	First Solar, Inc.(a)		6,942
	185	Intel Corp.		6,717
	188	Lattice Semiconductor Corp.(a)		11,562
	66	Micron Technology, Inc.		4,083
	620	NVIDIA Corp.		112,611
	252	QUALCOMM, Inc.		36,555
	60	Silicon Laboratories, Inc.(a)		8,849
	36	Synaptics, Inc.(a)		5,218
	42	Texas Instruments, Inc.		7,513
	45	Universal Display Corp.		5,196
	83	Wolfspeed, Inc.(a)		6,914

				289,129

		Software — 4.6%
	63	Adobe, Inc.(a)		25,838
	17	ANSYS, Inc.(a)		4,743
	23	Aspen Technology, Inc.(a)		4,694
	298	Autodesk, Inc.(a)		64,463
	63	Blackbaud, Inc.(a)		3,863
	18	Citrix Systems, Inc.		1,825
	95	CommVault Systems, Inc.(a)		5,329
	18	Fair Isaac Corp.(a)		8,317
	88	Fortinet, Inc.(a)		5,249
	306	Microsoft Corp.		85,906
	113	NortonLifeLock, Inc.		2,772
	1,280	Oracle Corp.		99,635
	46	Paylocity Holding Corp.(a)		9,473
	58	Qualys, Inc.(a)		7,095
	494	Salesforce, Inc.(a)		90,906
	27	ServiceNow, Inc.(a)		12,060
	75	SPS Commerce, Inc.(a)		8,982
	285	Workday, Inc., Class A(a)		44,203

				485,353

		Specialty Retail — 0.8%
	26	Asbury Automotive Group, Inc.(a)		4,463
	3	AutoZone, Inc.(a)		6,412
	18	Best Buy Co., Inc.		1,386
	87	Boot Barn Holdings, Inc.(a)		5,420
	56	Five Below, Inc.(a)		7,116
	96	GameStop Corp., Class A(a)		3,265
	77	Home Depot, Inc. (The)		23,172
	27	Lithia Motors, Inc.		7,163
	52	Lowe’s Cos., Inc.		9,960
	74	TJX Cos., Inc. (The)		4,526
	9	Tractor Supply Co.		1,723
	5	Ulta Beauty, Inc.(a)		1,944
	59	Williams-Sonoma, Inc.		8,521

				85,071

		Technology Hardware, Storage & Peripherals — 0.1%
	166	Hewlett Packard Enterprise Co.		2,364
	110	HP, Inc.		3,673

				6,037

		Textiles, Apparel & Luxury Goods — 0.5%
	51	Crocs, Inc.(a)		3,654
	34	Deckers Outdoor Corp.(a)		10,649
	202	NIKE, Inc., Class B		23,214
	1,643	Under Armour, Inc., Class A(a)		15,214
	43	VF Corp.		1,921

				54,652

		Thrifts & Mortgage Finance — 0.3%
	1,314	MGIC Investment Corp.		18,580
	185	Mr. Cooper Group, Inc.(a)		8,334

				26,914

		Trading Companies & Distributors — 0.1%
	56	GATX Corp.		5,614

		Water Utilities — 0.2%
	89	American States Water Co.		7,758
	47	American Water Works Co., Inc.		7,306
	178	Essential Utilities, Inc.		9,245

				24,309

		Wireless Telecommunication Services — 0.0%
	31	T-Mobile US, Inc.(a)		4,435

		Total Common Stocks (Identified Cost $6,373,039)		6,198,230


Principal Amount
	Bonds and Notes — 5.1%
		Automotive — 0.1%
$	4,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		3,933
	3,000	Lear Corp., 4.250%, 5/15/2029		2,820
	4,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		3,583

				10,336

		Banking — 0.7%
	6,000	American Express Co., 3.700%, 8/03/2023		6,025
	5,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		4,829
	4,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		4,030
	2,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		1,999
	5,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		4,559
	6,000	Citigroup, Inc., 4.600%, 3/09/2026		6,109
	6,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		5,997
	6,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		5,913
	5,000	KeyCorp, MTN, 2.550%, 10/01/2029		4,444
	2,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		1,911
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,004
	3,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		2,709
	5,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		4,812
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		1,960
	4,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		3,958
	3,000	State Street Corp., 2.400%, 1/24/2030		2,703
	3,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		2,594

See accompanying notes to financial statements.

67 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Principal Amount		Description	Value (†)
		Banking — continued
$	6,000	Truist Bank, 3.200%, 4/01/2024	$	5,997
	5,000	Westpac Banking Corp., 2.350%, 2/19/2025		4,877

				77,430

		Brokerage — 0.1%
	5,000	BlackRock, Inc., 2.400%, 4/30/2030		4,543
	7,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		5,428

				9,971

		Building Materials — 0.1%
	3,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		2,752
	6,000	Owens Corning, 3.950%, 8/15/2029		5,719

				8,471

		Chemicals — 0.0%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		1,945

		Diversified Manufacturing — 0.1%
	7,000	3M Co., 3.050%, 4/15/2030		6,641
	3,000	Emerson Electric Co., 2.000%, 12/21/2028		2,738

				9,379

		Electric — 0.3%
	4,000	Duke Energy Corp., 3.750%, 4/15/2024		4,016
	5,000	Entergy Corp., 0.900%, 9/15/2025		4,553
	4,000	Exelon Corp., 4.050%, 4/15/2030		3,966
	5,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		4,399
	2,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		1,844
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		1,731
	6,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		5,950

				26,459

		Environmental — 0.1%
	3,000	Republic Services, Inc., 1.450%, 2/15/2031		2,477
	3,000	Waste Management, Inc., 2.950%, 6/01/2041		2,444

				4,921

		Finance Companies — 0.1%
	2,000	Ares Capital Corp., 3.250%, 7/15/2025		1,886
	3,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		2,623

				4,509

		Food & Beverage — 0.2%
	5,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		4,660
	6,000	General Mills, Inc., 4.000%, 4/17/2025		6,075
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		1,824
	7,000	PepsiCo, Inc., 2.750%, 3/19/2030		6,673

				19,232

		Government Owned – No Guarantee — 0.1%
	5,000	Equinor ASA, 3.625%, 4/06/2040		4,588
	7,000	Federal National Mortgage Association, 6.625%, 11/15/2030		8,862

				13,450

		Health Insurance — 0.1%
	5,000	Elevance Health, Inc., 4.101%, 3/01/2028		5,070
	5,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		5,872

				10,942

		Healthcare — 0.2%
	3,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		3,064
	5,000	Cigna Corp., 3.750%, 7/15/2023		5,009
	4,000	CVS Health Corp., 4.300%, 3/25/2028		4,066
		Healthcare — continued
	2,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		1,936
	2,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		1,983
	2,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		1,832

				17,890

		Integrated Energy — 0.1%
	7,000	Exxon Mobil Corp., 2.992%, 3/19/2025		6,973
	5,000	Shell International Finance BV, 6.375%, 12/15/2038		6,019

				12,992

		Life Insurance — 0.0%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,073

		Mortgage Related — 1.0%
	16,363	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		15,275
	12,943	FHLMC, 3.000%, with various maturities from 2049 to 2052(b)		12,474
	14,784	FHLMC, 3.500%, 5/01/2052		14,639
	19,467	FNMA, 2.000%, with various maturities from 2050 to 2051(b)		17,549
	18,075	FNMA, 2.500%, with various maturities from 2050 to 2051(b)		16,890
	18,261	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		17,652
	13,448	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		13,330
	439	FNMA, 4.000%, 3/01/2050		443
	507	FNMA, 4.500%, with various maturities in 2049(b)		521

				108,773

		Natural Gas — 0.1%
	5,000	NiSource, Inc., 0.950%, 8/15/2025		4,577

		Pharmaceuticals — 0.1%
	6,000	AbbVie, Inc., 3.600%, 5/14/2025		6,001
	2,000	Biogen, Inc., 2.250%, 5/01/2030		1,709
	4,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		3,961
	4,000	Viatris, Inc., 3.850%, 6/22/2040		2,919

				14,590

		Property & Casualty Insurance — 0.0%
	3,000	Fidelity National Financial, Inc., 3.400%, 6/15/2030		2,695

		Railroads — 0.0%
	4,000	CSX Corp., 2.600%, 11/01/2026		3,888

		REITs – Apartments — 0.0%
	4,000	Essex Portfolio LP, 3.000%, 1/15/2030		3,612

		REITs – Health Care — 0.0%
	4,000	Welltower, Inc., 2.800%, 6/01/2031		3,469

		REITs – Office Property — 0.1%
	6,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		5,969
	3,000	Boston Properties LP, 2.750%, 10/01/2026		2,845
	5,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		4,242

				13,056

		REITs – Single Tenant — 0.0%
	2,000	Realty Income Corp., 3.400%, 1/15/2028		1,934
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		1,612

				3,546

		REITs – Warehouse/Industrials — 0.0%
	3,000	Prologis LP, 1.250%, 10/15/2030		2,469

		Restaurants — 0.1%
	6,000	Starbucks Corp., 2.250%, 3/12/2030		5,275

See accompanying notes to financial statements.

| 68

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2050 Fund – (continued)


Principal Amount		Description	Value (†)
		Retailers — 0.1%
$	4,000	Amazon.com, Inc., 3.875%, 8/22/2037	$	4,028
	6,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		5,276

				9,304

		Technology — 0.3%
	6,000	Apple, Inc., 2.500%, 2/09/2025		5,946
	2,000	Broadcom, Inc., 3.137%, 11/15/2035, 144A		1,608
	5,000	Broadcom, Inc., 4.926%, 5/15/2037, 144A		4,740
	5,000	Intel Corp., 2.450%, 11/15/2029		4,609
	5,000	International Business Machines Corp., 4.000%, 6/20/2042		4,558
	4,000	NVIDIA Corp., 2.850%, 4/01/2030		3,817
	4,000	Oracle Corp., 2.950%, 5/15/2025		3,900
	5,000	QUALCOMM, Inc., 1.650%, 5/20/2032		4,235

				33,413

		Treasuries — 0.8%
	5,000	U.S. Treasury Bond, 2.250%, 5/15/2041		4,280
	5,000	U.S. Treasury Bond, 2.500%, 5/15/2046		4,334
	13,000	U.S. Treasury Bond, 2.875%, 11/15/2046		12,089
	14,000	U.S. Treasury Bond, 3.000%, 5/15/2045		13,264
	7,000	U.S. Treasury Bond, 3.000%, 2/15/2048		6,734
	10,000	U.S. Treasury Bond, 3.000%, 2/15/2049		9,750
	20,000	U.S. Treasury Note, 0.375%, 11/30/2025		18,461
	16,000	U.S. Treasury Note, 2.125%, 12/31/2022		15,955

				84,867

		Utility Other — 0.0%
	4,000	Essential Utilities, Inc., 4.276%, 5/01/2049		3,614

		Wireless — 0.1%
	4,000	Vodafone Group PLC, 6.150%, 2/27/2037		4,452

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		1,630
	5,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		4,989

				6,619

		Total Bonds and Notes (Identified Cost $581,301)		538,219


Shares
	Exchange-Traded Funds — 8.6%
	13,616	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $1,049,489)		901,515


	Mutual Funds — 13.5%
	39,362	WCM Focused Emerging Markets Fund, Institutional Class		521,934
	43,542	WCM Focused International Growth Fund, Institutional Class		906,549

		Total Mutual Funds (Identified Cost $1,812,034)		1,428,483


	Affiliated Mutual Funds — 11.0%
	8,650	Loomis Sayles Inflation Protected Securities Fund, Class N		93,165
	17,303	Mirova Global Green Bond Fund, Class N		155,379
	81,006	Mirova International Sustainable Equity Fund, Class N		906,455

		Total Affiliated Mutual Funds (Identified Cost $1,407,568)		1,154,999


	Short-Term Investments — 3.3%
$	353,281	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $353,300 on 8/01/2022 collateralized by $358,900 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $360,723 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $353,281)		353,281


		Total Investments — 100.3% (Identified Cost $11,576,712)		10,574,727
		Other assets less liabilities — (0.3)%		(32,262	)

		Net Assets — 100.0%	$	10,542,465


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $8,259 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, 2022 (Unaudited)


Equity	89.5	%
Fixed Income	7.5
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.

69 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund


Shares		Description	Value (†)
	Common Stocks — 59.3% of Net Assets
		Aerospace & Defense — 1.0%
	175	AAR Corp.(a)	$	7,793
	38	Axon Enterprise, Inc.(a)		4,187
	334	Boeing Co. (The)(a)		53,210
	7	L3Harris Technologies, Inc.		1,680
	11	Lockheed Martin Corp.		4,552
	56	Moog, Inc., Class A		4,796
	7	Northrop Grumman Corp.		3,352
	107	Raytheon Technologies Corp.		9,973

				89,543

		Air Freight & Logistics — 0.3%
	174	Expeditors International of Washington, Inc.		18,487
	13	FedEx Corp.		3,030
	60	GXO Logistics, Inc.(a)		2,880
	22	United Parcel Service, Inc., Class B		4,288

				28,685

		Airlines — 0.1%
	169	Delta Air Lines, Inc.(a)		5,374
	517	JetBlue Airways Corp.(a)		4,353

				9,727

		Auto Components — 0.5%
	560	BorgWarner, Inc.		21,538
	377	Dana, Inc.		6,318
	63	Dorman Products, Inc.(a)		6,369
	50	Visteon Corp.(a)		6,379

				40,604

		Automobiles — 1.3%
	936	General Motors Co.(a)		33,940
	89	Tesla, Inc.(a)		79,339
	49	Thor Industries, Inc.		4,132

				117,411

		Banks — 2.6%
	266	Ameris Bancorp		12,579
	629	Bank of America Corp.		21,266
	257	Cadence Bank		6,708
	727	Citigroup, Inc.		37,731
	137	Citizens Financial Group, Inc.		5,202
	84	Fifth Third Bancorp		2,866
	1,215	FNB Corp.		14,531
	847	Fulton Financial Corp.		14,136
	147	Huntington Bancshares, Inc.		1,954
	230	International Bancshares Corp.		10,088
	54	JPMorgan Chase & Co.		6,229
	237	KeyCorp		4,337
	16	M&T Bank Corp.		2,839
	35	PNC Financial Services Group, Inc. (The)		5,808
	257	Regions Financial Corp.		5,443
	8	Signature Bank		1,485
	6	SVB Financial Group(a)		2,421
	250	Truist Financial Corp.		12,618
	353	Trustmark Corp.		11,462
	114	U.S. Bancorp		5,381
	215	Webster Financial Corp.		9,987
	642	Wells Fargo & Co.		28,165
	92	Wintrust Financial Corp.		7,916

				231,152

		Beverages — 1.2%
	50	Boston Beer Co., Inc. (The), Class A(a)		19,021
	243	Coca-Cola Co. (The)		15,593
	39	Keurig Dr Pepper, Inc.		1,511
		Beverages — continued
	626	Monster Beverage Corp.(a)		62,362
	59	PepsiCo, Inc.		10,323

				108,810

		Biotechnology — 1.8%
	101	AbbVie, Inc.		14,495
	192	Alnylam Pharmaceuticals, Inc.(a)		27,272
	43	Amgen, Inc.		10,641
	116	Arrowhead Pharmaceuticals, Inc.(a)		4,933
	31	Biogen, Inc.(a)		6,667
	152	BioMarin Pharmaceutical, Inc.(a)		13,080
	228	CRISPR Therapeutics AG(a)		17,100
	34	Gilead Sciences, Inc.		2,031
	151	Halozyme Therapeutics, Inc.(a)		7,384
	31	Moderna, Inc.(a)		5,087
	64	Neurocrine Biosciences, Inc.(a)		6,024
	76	Regeneron Pharmaceuticals, Inc.(a)		44,208

				158,922

		Building Products — 0.7%
	101	Builders FirstSource, Inc.(a)		6,868
	36	Carlisle Cos., Inc.		10,660
	65	Carrier Global Corp.		2,634
	37	Johnson Controls International PLC		1,995
	37	Lennox International, Inc.		8,863
	280	Masco Corp.		15,506
	111	Owens Corning		10,294
	72	Trex Co., Inc.(a)		4,645

				61,465

		Capital Markets — 3.7%
	14	Ameriprise Financial, Inc.		3,779
	527	Bank of New York Mellon Corp. (The)		22,903
	12	BlackRock, Inc.		8,030
	529	Charles Schwab Corp. (The)		36,527
	21	CME Group, Inc.		4,189
	59	FactSet Research Systems, Inc.		25,351
	82	Goldman Sachs Group, Inc. (The)		27,338
	234	Intercontinental Exchange, Inc.		23,866
	172	Janus Henderson Group PLC		4,432
	692	KKR & Co., Inc.		38,378
	78	Moody’s Corp.		24,200
	82	Morgan Stanley		6,913
	47	MSCI, Inc.		22,623
	25	Northern Trust Corp.		2,495
	48	S&P Global, Inc.		18,093
	329	SEI Investments Co.		18,213
	411	State Street Corp.		29,197
	36	Virtus Investment Partners, Inc.		7,428

				323,955

		Chemicals — 0.4%
	16	Air Products & Chemicals, Inc.		3,972
	30	DuPont de Nemours, Inc.		1,837
	100	HB Fuller Co.		6,420
	71	Innospec, Inc.		7,242
	25	Linde PLC		7,550
	86	Minerals Technologies, Inc.		5,745
	46	Stepan Co.		5,162

				37,928

		Commercial Services & Supplies — 0.4%
	52	MSA Safety, Inc.		6,674
	61	Tetra Tech, Inc.		9,349
	95	Viad Corp.(a)		3,208
	85	Waste Management, Inc.		13,988

				33,219

See accompanying notes to financial statements.

| 70

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.1%
	122	Ciena Corp.(a)	$	6,295
	66	Lumentum Holdings, Inc.(a)		5,971

				12,266

		Construction & Engineering — 0.2%
	199	AECOM		14,328

		Consumer Finance — 1.0%
	1,140	Ally Financial, Inc.		37,700
	135	American Express Co.		20,793
	236	Capital One Financial Corp.		25,920
	132	Green Dot Corp., Class A(a)		3,709

				88,122

		Containers & Packaging — 0.2%
	29	Ball Corp.		2,129
	56	International Paper Co.		2,395
	165	Sonoco Products Co.		10,476

				15,000

		Distributors — 0.1%
	46	Genuine Parts Co.		7,032

		Diversified Consumer Services — 0.2%
	85	Grand Canyon Education, Inc.(a)		8,166
	126	Service Corp. International		9,382

				17,548

		Diversified Telecommunication Services — 0.1%
	139	AT&T, Inc.		2,611
	143	Lumen Technologies, Inc.		1,557
	81	Verizon Communications, Inc.		3,741

				7,909

		Electric Utilities — 0.6%
	130	American Electric Power Co., Inc.		12,813
	149	Edison International		10,098
	161	Eversource Energy		14,203
	68	IDACORP, Inc.		7,597
	121	NextEra Energy, Inc.		10,223

				54,934

		Electrical Equipment — 1.2%
	24	Acuity Brands, Inc.		4,378
	486	ChargePoint Holdings, Inc.(a)		7,343
	32	Eaton Corp. PLC		4,749
	35	Emerson Electric Co.		3,152
	1,015	Fluence Energy, Inc.(a)		13,946
	45	Hubbell, Inc.		9,856
	811	Plug Power, Inc.(a)		17,307
	44	Rockwell Automation, Inc.		11,232
	570	Shoals Technologies Group, Inc., Class A(a)		13,469
	706	Sunrun, Inc.(a)		23,079

				108,511

		Electronic Equipment, Instruments & Components — 0.5%
	209	Avnet, Inc.		10,005
	133	Cognex Corp.		6,780
	39	Corning, Inc.		1,434
	25	II-VI, Inc.(a)		1,316
	136	Itron, Inc.(a)		7,942
	10	Keysight Technologies, Inc.(a)		1,626
	26	Littelfuse, Inc.		7,251
	61	TE Connectivity Ltd.		8,157

				44,511

		Energy Equipment & Services — 0.2%
	674	Archrock, Inc.		5,689
	61	Baker Hughes Co.		1,567
		Energy Equipment & Services — continued
	295	ChampionX Corp.		6,162
	91	Schlumberger NV		3,370

				16,788

		Entertainment — 2.2%
	42	Activision Blizzard, Inc.		3,358
	102	Electronic Arts, Inc.		13,385
	386	Netflix, Inc.(a)		86,811
	146	Take-Two Interactive Software, Inc.(a)		19,379
	540	Walt Disney Co. (The)(a)		57,294
	717	Warner Bros Discovery, Inc.(a)		10,755

				190,982

		Food & Staples Retailing — 0.5%
	97	BJ’s Wholesale Club Holdings, Inc.(a)		6,567
	8	Costco Wholesale Corp.		4,330
	133	Kroger Co. (The)		6,177
	186	SpartanNash Co.		6,006
	238	Sprouts Farmers Market, Inc.(a)		6,578
	56	Sysco Corp.		4,755
	70	Walgreens Boots Alliance, Inc.		2,773
	40	Walmart, Inc.		5,282

				42,468

		Food Products — 0.5%
	82	Campbell Soup Co.		4,047
	245	Darling Ingredients, Inc.(a)		16,973
	63	General Mills, Inc.		4,712
	125	Hain Celestial Group, Inc. (The)(a)		2,844
	56	Hormel Foods Corp.		2,763
	68	Ingredion, Inc.		6,187
	16	J.M. Smucker Co. (The)		2,117
	31	Kellogg Co.		2,291
	17	McCormick & Co., Inc.		1,485

				43,419

		Gas Utilities — 0.2%
	226	New Jersey Resources Corp.		10,439
	77	ONE Gas, Inc.		6,540

				16,979

		Health Care Equipment & Supplies — 1.0%
	120	Abbott Laboratories		13,061
	27	Becton Dickinson & Co.		6,597
	9	Cooper Cos., Inc. (The)		2,943
	25	DexCom, Inc.(a)		2,052
	58	Edwards Lifesciences Corp.(a)		5,832
	67	Globus Medical, Inc., Class A(a)		3,932
	81	Haemonetics Corp.(a)		5,629
	27	Hologic, Inc.(a)		1,927
	77	Intuitive Surgical, Inc.(a)		17,723
	215	LeMaitre Vascular, Inc.		10,825
	34	Penumbra, Inc.(a)		4,739
	10	ResMed, Inc.		2,405
	32	Shockwave Medical, Inc.(a)		6,750
	8	STERIS PLC		1,805
	11	Stryker Corp.		2,362
	7	Teleflex, Inc.		1,683

				90,265

		Health Care Providers & Services — 1.4%
	105	Acadia Healthcare Co., Inc.(a)		8,706
	23	Amedisys, Inc.(a)		2,757
	90	Centene Corp.(a)		8,367
	17	Chemed Corp.		8,178
	37	Cigna Corp.		10,188

See accompanying notes to financial statements.

71 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	45	CVS Health Corp.	$	4,306
	27	Elevance Health, Inc.		12,882
	61	Encompass Health Corp.		3,088
	30	Enhabit, Inc.(a)		525
	139	HCA Healthcare, Inc.		29,526
	16	Humana, Inc.		7,712
	19	Quest Diagnostics, Inc.		2,595
	170	Select Medical Holdings Corp.		5,035
	98	Tenet Healthcare Corp.(a)		6,480
	29	UnitedHealth Group, Inc.		15,728

				126,073

		Health Care Technology — 0.7%
	301	Allscripts Healthcare Solutions, Inc.(a)		4,762
	707	Doximity, Inc., Class A(a)		29,920
	105	Veeva Systems, Inc., Class A(a)		23,476

				58,158

		Hotels, Restaurants & Leisure — 1.6%
	26	Booking Holdings, Inc.(a)		50,328
	39	Expedia Group, Inc.(a)		4,136
	93	Hilton Worldwide Holdings, Inc.		11,911
	80	Jack in the Box, Inc.		5,531
	25	McDonald’s Corp.		6,584
	309	Starbucks Corp.		26,197
	169	Travel & Leisure Co.		7,286
	369	Yum China Holdings, Inc.		17,974
	108	Yum! Brands, Inc.		13,234

				143,181

		Household Durables — 0.5%
	34	DR Horton, Inc.		2,653
	207	KB Home		6,757
	81	Meritage Homes Corp.(a)		7,152
	397	PulteGroup, Inc.		17,317
	278	Taylor Morrison Home Corp.(a)		7,979

				41,858

		Household Products — 0.5%
	220	Colgate-Palmolive Co.		17,323
	66	Kimberly-Clark Corp.		8,698
	110	Procter & Gamble Co. (The)		15,280

				41,301

		Independent Power & Renewable Electricity Producers — 0.3%
	93	AES Corp. (The)		2,066
	120	NextEra Energy Partners LP		9,929
	437	Sunnova Energy International, Inc.(a)		11,371

				23,366

		Industrial Conglomerates — 0.3%
	28	3M Co.		4,011
	203	General Electric Co.		15,004
	33	Honeywell International, Inc.		6,351

				25,366

		Insurance — 1.7%
	55	Aflac, Inc.		3,152
	32	Allstate Corp. (The)		3,743
	381	American International Group, Inc.		19,724
	35	Chubb Ltd.		6,602
	119	First American Financial Corp.		6,902
	72	Hanover Insurance Group, Inc. (The)		9,826
	56	Marsh & McLennan Cos., Inc.		9,182
	261	Prudential Financial, Inc.		26,097
	191	Reinsurance Group of America, Inc.		22,114
	127	Selective Insurance Group, Inc.		9,888
		Insurance — continued
	30	Travelers Cos., Inc. (The)		4,761
	125	Willis Towers Watson PLC		25,868

				147,859

		Interactive Media & Services — 2.6%
	540	Alphabet, Inc., Class A(a)		62,813
	422	Alphabet, Inc., Class C(a)		49,222
	517	Meta Platforms, Inc., Class A(a)		82,255
	1,292	Pinterest, Inc., Class A(a)		25,168
	245	Twitter, Inc.(a)		10,194

				229,652

		Internet & Direct Marketing Retail — 2.2%
	180	Alibaba Group Holding Ltd., Sponsored ADR(a)		16,086
	941	Amazon.com, Inc.(a)		126,988
	738	eBay, Inc.		35,889
	155	Etsy, Inc.(a)		16,077

				195,040

		IT Services — 3.1%
	15	Accenture PLC, Class A		4,594
	23	Automatic Data Processing, Inc.		5,546
	193	Block, Inc.(a)		14,680
	47	Cognizant Technology Solutions Corp., Class A		3,194
	47	Concentrix Corp.		6,287
	327	Fiserv, Inc.(a)		34,557
	85	Gartner, Inc.(a)		22,566
	189	Global Payments, Inc.		23,118
	42	International Business Machines Corp.		5,493
	89	Mastercard, Inc., Class A		31,487
	18	Paychex, Inc.		2,309
	242	PayPal Holdings, Inc.(a)		20,940
	46	Perficient, Inc.(a)		4,854
	332	Shopify, Inc., Class A(a)		11,564
	11	VeriSign, Inc.(a)		2,081
	329	Visa, Inc., Class A		69,784
	36	WEX, Inc.(a)		5,984

				269,038

		Leisure Products — 0.1%
	361	Mattel, Inc.(a)		8,375

		Life Sciences Tools & Services — 0.7%
	37	Agilent Technologies, Inc.		4,962
	32	Danaher Corp.		9,327
	107	Illumina, Inc.(a)		23,185
	7	IQVIA Holdings, Inc.(a)		1,682
	15	PerkinElmer, Inc.		2,297
	37	Repligen Corp.(a)		7,894
	16	Thermo Fisher Scientific, Inc.		9,575
	6	Waters Corp.(a)		2,184

				61,106

		Machinery — 1.4%
	52	AGCO Corp.		5,664
	27	Caterpillar, Inc.		5,353
	22	Chart Industries, Inc.(a)		4,292
	43	Cummins, Inc.		9,516
	55	Deere & Co.		18,875
	31	Illinois Tool Works, Inc.		6,441
	117	ITT, Inc.		8,778
	91	Oshkosh Corp.		7,835
	172	PACCAR, Inc.		15,741
	101	Parker-Hannifin Corp.		29,198
	107	Terex Corp.		3,586
	102	Toro Co. (The)		8,771

				124,050

See accompanying notes to financial statements.

| 72

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Media — 1.2%
	7	Cable One, Inc.	$	9,637
	92	Charter Communications, Inc., Class A(a)		39,753
	941	Comcast Corp., Class A		35,306
	135	Interpublic Group of Cos., Inc. (The)		4,033
	115	New York Times Co. (The), Class A		3,674
	156	News Corp., Class A		2,674
	104	News Corp., Class B		1,797
	68	Omnicom Group, Inc.		4,749
	49	Paramount Global, Class B		1,159

				102,782

		Metals & Mining — 0.4%
	74	Alcoa Corp.		3,766
	206	Cleveland-Cliffs, Inc.(a)		3,648
	156	Commercial Metals Co.		6,181
	46	Newmont Corp.		2,083
	14	Nucor Corp.		1,901
	45	Reliance Steel & Aluminum Co.		8,561
	115	Steel Dynamics, Inc.		8,956

				35,096

		Multi-Utilities — 0.2%
	84	Consolidated Edison, Inc.		8,339
	34	DTE Energy Co.		4,430
	20	WEC Energy Group, Inc.		2,076

				14,845

		Multiline Retail — 0.2%
	96	Kohl’s Corp.		2,797
	234	Macy’s, Inc.		4,130
	47	Target Corp.		7,679

				14,606

		Oil, Gas & Consumable Fuels — 2.3%
	577	Antero Midstream Corp.		5,805
	949	APA Corp.		35,274
	79	Chevron Corp.		12,939
	378	CNX Resources Corp.(a)		6,528
	342	ConocoPhillips		33,321
	95	Diamondback Energy, Inc.		12,162
	385	EOG Resources, Inc.		42,820
	163	EQT Corp.		7,177
	168	Exxon Mobil Corp.		16,284
	109	HF Sinclair Corp.		5,212
	137	Kinder Morgan, Inc.		2,465
	125	Marathon Oil Corp.		3,100
	29	Occidental Petroleum Corp.		1,907
	202	Range Resources Corp.(a)		6,680
	752	Southwestern Energy Co.(a)		5,309
	28	Valero Energy Corp.		3,101

				200,084

		Paper & Forest Products — 0.1%
	65	Louisiana-Pacific Corp.		4,136

		Pharmaceuticals — 1.8%
	281	Bristol-Myers Squibb Co.		20,732
	28	Eli Lilly & Co.		9,231
	48	Jazz Pharmaceuticals PLC(a)		7,491
	94	Johnson & Johnson		16,405
	201	Merck & Co., Inc.		17,958
	363	Novartis AG, Sponsored ADR		31,156
	133	Novo Nordisk A/S, Sponsored ADR		15,436
	107	Perrigo Co. PLC		4,480
	226	Pfizer, Inc.		11,415
	551	Roche Holding AG, Sponsored ADR		22,850
	24	Zoetis, Inc.		4,381

				161,535

		Professional Services — 0.6%
	108	Equifax, Inc.		22,562
	92	Exponent, Inc.		9,245
	95	Korn Ferry		6,224
	52	ManpowerGroup, Inc.		4,077
	39	Verisk Analytics, Inc.		7,420

				49,528

		Real Estate Management & Development — 0.4%
	333	CBRE Group, Inc., Class A(a)		28,512
	48	Jones Lang LaSalle, Inc.(a)		9,152

				37,664

		REITs – Apartments — 0.4%
	168	American Campus Communities, Inc.		10,974
	76	AvalonBay Communities, Inc.		16,259
	57	Equity Residential		4,468
	26	Essex Property Trust, Inc.		7,450

				39,151

		REITs – Diversified — 0.5%
	479	American Assets Trust, Inc.		14,480
	43	American Tower Corp.		11,646
	35	Crown Castle International Corp.		6,323
	15	Digital Realty Trust, Inc.		1,987
	6	Equinix, Inc.		4,223
	116	VICI Properties, Inc.		3,966
	120	Weyerhaeuser Co.		4,358

				46,983

		REITs – Health Care — 0.2%
	39	Ventas, Inc.		2,098
	183	Welltower, Inc.		15,800

				17,898

		REITs – Hotels — 0.0%
	122	Host Hotels & Resorts, Inc.		2,173

		REITs – Mortgage — 0.1%
	182	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		6,568

		REITs – Office Property — 0.6%
	97	Alexandria Real Estate Equities, Inc.		16,081
	834	Brandywine Realty Trust		7,798
	410	Corporate Office Properties Trust		11,542
	285	Douglas Emmett, Inc.		6,737
	379	Easterly Government Properties, Inc.		7,682
	123	Kilroy Realty Corp.		6,664

				56,504

		REITs – Shopping Centers — 0.2%
	676	Brixmor Property Group, Inc.		15,670

		REITs – Warehouse/Industrials — 0.1%
	68	ProLogis, Inc.		9,014

		Road & Rail — 0.8%
	19	Avis Budget Group, Inc.(a)		3,459
	194	Canadian Pacific Railway Ltd.		15,301
	181	CSX Corp.		5,852
	85	Norfolk Southern Corp.		21,349
	71	Ryder System, Inc.		5,561
	78	Union Pacific Corp.		17,729

				69,251

		Semiconductors & Semiconductor Equipment — 2.7%
	88	Advanced Micro Devices, Inc.(a)		8,313
	29	Analog Devices, Inc.		4,987
	30	Broadcom, Inc.		16,064

See accompanying notes to financial statements.

73 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	71	Cirrus Logic, Inc.(a)	$	6,068
	100	Enphase Energy, Inc.(a)		28,418
	55	First Solar, Inc.(a)		5,454
	154	Intel Corp.		5,592
	155	Lattice Semiconductor Corp.(a)		9,533
	56	Micron Technology, Inc.		3,464
	516	NVIDIA Corp.		93,721
	198	QUALCOMM, Inc.		28,722
	50	Silicon Laboratories, Inc.(a)		7,374
	29	Synaptics, Inc.(a)		4,204
	33	Texas Instruments, Inc.		5,903
	41	Universal Display Corp.		4,734
	71	Wolfspeed, Inc.(a)		5,914

				238,465

		Software — 4.6%
	50	Adobe, Inc.(a)		20,506
	13	ANSYS, Inc.(a)		3,627
	21	Aspen Technology, Inc.(a)		4,286
	249	Autodesk, Inc.(a)		53,864
	53	Blackbaud, Inc.(a)		3,250
	15	Citrix Systems, Inc.		1,521
	82	CommVault Systems, Inc.(a)		4,599
	16	Fair Isaac Corp.(a)		7,393
	73	Fortinet, Inc.(a)		4,354
	250	Microsoft Corp.		70,185
	90	NortonLifeLock, Inc.		2,208
	1,068	Oracle Corp.		83,133
	37	Paylocity Holding Corp.(a)		7,619
	49	Qualys, Inc.(a)		5,994
	402	Salesforce, Inc.(a)		73,976
	26	ServiceNow, Inc.(a)		11,613
	62	SPS Commerce, Inc.(a)		7,425
	240	Workday, Inc., Class A(a)		37,224

				402,777

		Specialty Retail — 0.8%
	23	Asbury Automotive Group, Inc.(a)		3,948
	3	AutoZone, Inc.(a)		6,412
	13	Best Buy Co., Inc.		1,001
	77	Boot Barn Holdings, Inc.(a)		4,797
	47	Five Below, Inc.(a)		5,972
	76	GameStop Corp., Class A(a)		2,585
	64	Home Depot, Inc. (The)		19,260
	22	Lithia Motors, Inc.		5,836
	42	Lowe’s Cos., Inc.		8,044
	60	TJX Cos., Inc. (The)		3,670
	16	Tractor Supply Co.		3,064
	4	Ulta Beauty, Inc.(a)		1,556
	49	Williams-Sonoma, Inc.		7,076

				73,221

		Technology Hardware, Storage & Peripherals — 0.1%
	130	Hewlett Packard Enterprise Co.		1,851
	91	HP, Inc.		3,039

				4,890

		Textiles, Apparel & Luxury Goods — 0.5%
	39	Crocs, Inc.(a)		2,794
	28	Deckers Outdoor Corp.(a)		8,770
	166	NIKE, Inc., Class B		19,076
	1,435	Under Armour, Inc., Class A(a)		13,288
	35	VF Corp.		1,564

				45,492

		Thrifts & Mortgage Finance — 0.3%
	1,085	MGIC Investment Corp.		15,342
	161	Mr. Cooper Group, Inc.(a)		7,253

				22,595

		Trading Companies & Distributors — 0.1%
	49	GATX Corp.		4,912

		Water Utilities — 0.2%
	70	American States Water Co.		6,102
	38	American Water Works Co., Inc.		5,907
	155	Essential Utilities, Inc.		8,050

				20,059

		Wireless Telecommunication Services – 0.0%
	25	T-Mobile US, Inc.(a)		3,577

		Total Common Stocks (Identified Cost $5,354,746)		5,206,382


Principal Amount
	Bonds and Notes — 3.8%
		Automotive — 0.1%
$	3,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		2,950
	2,000	Lear Corp., 4.250%, 5/15/2029		1,880
	2,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030		1,792

				6,622

		Banking — 0.6%
	3,000	American Express Co., 3.700%, 8/03/2023		3,012
	4,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		3,863
	3,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		3,023
	2,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		1,999
	5,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		4,559
	3,000	Citigroup, Inc., 4.600%, 3/09/2026		3,055
	3,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		2,998
	3,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		2,957
	5,000	KeyCorp, MTN, 2.550%, 10/01/2029		4,444
	1,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		955
	2,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		2,004
	2,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		1,806
	3,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		2,887
	4,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		3,920
	2,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		1,979
	2,000	State Street Corp., 2.400%, 1/24/2030		1,802
	2,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032		1,730
	4,000	Truist Bank, 3.200%, 4/01/2024		3,998
	3,000	Westpac Banking Corp., 2.350%, 2/19/2025		2,926

				53,917

		Brokerage — 0.1%
	3,000	BlackRock, Inc., 2.400%, 4/30/2030		2,726
	5,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		3,877

				6,603

		Building Materials — 0.1%
	2,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		1,835

See accompanying notes to financial statements.

| 74

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Principal Amount		Description	Value (†)
		Building Materials — continued
$	3,000	Owens Corning, 3.950%, 8/15/2029	$	2,859

				4,694

		Chemicals — 0.0%
	2,000	LYB International Finance BV, 5.250%, 7/15/2043		1,945

		Diversified Manufacturing — 0.1%
	3,000	3M Co., 3.050%, 4/15/2030		2,846
	2,000	Emerson Electric Co., 2.000%, 12/21/2028		1,825

				4,671

		Electric — 0.2%
	3,000	Duke Energy Corp., 3.750%, 4/15/2024		3,012
	4,000	Entergy Corp., 0.900%, 9/15/2025		3,643
	2,000	Exelon Corp., 4.050%, 4/15/2030		1,983
	4,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		3,519
	2,000	Southern California Edison Co., Series C, 4.125%, 3/01/2048		1,731
	3,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		2,975

				16,863

		Environmental — 0.0%
	2,000	Republic Services, Inc., 1.450%, 2/15/2031		1,651
	2,000	Waste Management, Inc., 2.950%, 6/01/2041		1,630

				3,281

		Finance Companies — 0.0%
	2,000	Ares Capital Corp., 3.250%, 7/15/2025		1,886
	2,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		1,749

				3,635

		Food & Beverage — 0.1%
	4,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		3,728
	3,000	General Mills, Inc., 4.000%, 4/17/2025		3,038
	2,000	Mondelez International, Inc., 2.750%, 4/13/2030		1,824
	3,000	PepsiCo, Inc., 2.750%, 3/19/2030		2,860

				11,450

		Government Owned – No Guarantee — 0.1%
	3,000	Equinor ASA, 3.625%, 4/06/2040		2,752
	5,000	Federal National Mortgage Association, 6.625%, 11/15/2030		6,330

				9,082

		Health Insurance — 0.1%
	3,000	Elevance Health, Inc., 4.101%, 3/01/2028		3,042
	3,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		3,523

				6,565

		Healthcare — 0.1%
	1,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		1,021
	1,000	CVS Health Corp., 4.300%, 3/25/2028		1,017
	2,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		1,936
	2,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		1,983
	2,000	Quest Diagnostics, Inc., 2.950%, 6/30/2030		1,832

				7,789

		Integrated Energy — 0.1%
	3,000	Exxon Mobil Corp., 2.992%, 3/19/2025		2,988
	3,000	Shell International Finance BV, 6.375%, 12/15/2038		3,612

				6,600

		Life Insurance — 0.0%
	2,000	Athene Holding Ltd., 6.150%, 4/03/2030		2,073

		Mortgage Related — 0.8%
	12,496	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		11,665
	5,888	FHLMC, 3.000%, 4/01/2052		5,673
	2,957	FHLMC, 3.500%, 5/01/2052		2,928
	13,960	FNMA, 2.000%, with various maturities in 2051(b)		12,586
	12,341	FNMA, 2.500%, with various maturities in 2051(b)		11,532
	14,522	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		14,060
	10,647	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		10,556
	783	FNMA, 4.000%, with various maturities from 2049 to 2050(b)		793
	510	FNMA, 4.500%, with various maturities from 2048 to 2049(b)		524

				70,317

		Natural Gas — 0.1%
	4,000	NiSource, Inc., 0.950%, 8/15/2025		3,661

		Pharmaceuticals — 0.1%
	3,000	AbbVie, Inc., 3.600%, 5/14/2025		3,000
	2,000	Biogen, Inc., 2.250%, 5/01/2030		1,709
	2,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		1,981

				6,690

		Railroads — 0.0%
	3,000	CSX Corp., 2.600%, 11/01/2026		2,916

		REITs – Apartments — 0.0%
	2,000	Essex Portfolio LP, 3.000%, 1/15/2030		1,806

		REITs – Health Care — 0.0%
	2,000	Welltower, Inc., 2.800%, 6/01/2031		1,734

		REITs – Office Property — 0.1%
	3,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		2,985
	2,000	Boston Properties LP, 2.750%, 10/01/2026		1,897
	4,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		3,393

				8,275

		REITs – Warehouse/Industrials — 0.0%
	2,000	Prologis LP, 1.250%, 10/15/2030		1,646

		Restaurants — 0.0%
	3,000	Starbucks Corp., 2.250%, 3/12/2030		2,637

		Retailers — 0.1%
	4,000	Amazon.com, Inc., 3.875%, 8/22/2037		4,028
	4,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		3,517

				7,545

		Technology — 0.2%
	3,000	Apple, Inc., 2.500%, 2/09/2025		2,973
	2,000	Intel Corp., 2.450%, 11/15/2029		1,844
	3,000	International Business Machines Corp., 4.000%, 6/20/2042		2,735
	2,000	NVIDIA Corp., 2.850%, 4/01/2030		1,908
	3,000	Oracle Corp., 2.950%, 5/15/2025		2,925
	4,000	QUALCOMM, Inc., 1.650%, 5/20/2032		3,388

				15,773

		Treasuries — 0.6%
	4,000	U.S. Treasury Bond, 2.250%, 5/15/2041		3,424
	3,000	U.S. Treasury Bond, 2.500%, 5/15/2046		2,600
	8,000	U.S. Treasury Bond, 2.875%, 11/15/2046		7,440
	8,000	U.S. Treasury Bond, 3.000%, 5/15/2045		7,579
	4,000	U.S. Treasury Bond, 3.000%, 2/15/2048		3,848
	6,000	U.S. Treasury Bond, 3.000%, 2/15/2049		5,850
	14,000	U.S. Treasury Note, 0.375%, 11/30/2025		12,923
	10,000	U.S. Treasury Note, 2.125%, 12/31/2022		9,972

				53,636

See accompanying notes to financial statements.

75 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2055 Fund – (continued)


Principal Amount		Description	Value (†)
		Utility Other — 0.0%
$	2,000	Essential Utilities, Inc., 4.276%, 5/01/2049	$	1,807

		Wireless — 0.0%
	3,000	Vodafone Group PLC, 6.150%, 2/27/2037		3,339

		Wirelines — 0.1%
	2,000	AT&T, Inc., 3.650%, 6/01/2051		1,629
	3,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		2,994

				4,623

		Total Bonds and Notes (Identified Cost $363,527)		332,195


Shares
	Exchange-Traded Funds — 9.0%
	11,905	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $909,929)		788,230


	Mutual Funds — 14.4%
	35,638	WCM Focused Emerging Markets Fund, Institutional Class		472,565
	38,182	WCM Focused International Growth Fund, Institutional Class		794,954

		Total Mutual Funds (Identified Cost $1,583,005)		1,267,519


	Affiliated Mutual Funds — 10.5%
	14,463	Mirova Global Green Bond Fund, Class N		129,876
	70,571	Mirova International Sustainable Equity Fund, Class N		789,688

		Total Affiliated Mutual Funds (Identified Cost $1,120,345)		919,564


Principal Amount
	Short-Term Investments — 3.4%
$	302,691	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $302,707 on 8/01/2022 collateralized by $307,600 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $309,162 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $302,691)		302,691


		Total Investments — 100.4% (Identified Cost $9,634,243)		8,816,581
		Other assets less liabilities — (0.4)%		(31,799	)

		Net Assets — 100.0%	$	8,784,782


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022, the value of Rule 144A holdings amounted to $955 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, 2022 (Unaudited)


Equity	91.7	%
Fixed Income	5.3
Short-Term Investments	3.4

Total Investments	100.4
Other assets less liabilities	(0.4	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 76

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund


Shares		Description	Value (†)
	Common Stocks — 59.7% of Net Assets
		Aerospace & Defense — 1.1%
	121	AAR Corp.(a)	$	5,388
	26	Axon Enterprise, Inc.(a)		2,865
	239	Boeing Co. (The)(a)		38,075
	4	L3Harris Technologies, Inc.		960
	8	Lockheed Martin Corp.		3,310
	37	Moog, Inc., Class A		3,169
	5	Northrop Grumman Corp.		2,394
	74	Raytheon Technologies Corp.		6,898

				63,059

		Air Freight & Logistics — 0.3%
	109	Expeditors International of Washington, Inc.		11,581
	9	FedEx Corp.		2,098
	48	GXO Logistics, Inc.(a)		2,304
	16	United Parcel Service, Inc., Class B		3,118

				19,101

		Airlines — 0.1%
	115	Delta Air Lines, Inc.(a)		3,657
	380	JetBlue Airways Corp.(a)		3,200

				6,857

		Auto Components — 0.5%
	375	BorgWarner, Inc.		14,423
	257	Dana, Inc.		4,307
	46	Dorman Products, Inc.(a)		4,650
	33	Visteon Corp.(a)		4,210

				27,590

		Automobiles — 1.3%
	602	General Motors Co.(a)		21,828
	61	Tesla, Inc.(a)		54,378
	35	Thor Industries, Inc.		2,952

				79,158

		Banks — 2.7%
	184	Ameris Bancorp		8,701
	435	Bank of America Corp.		14,707
	175	Cadence Bank		4,568
	487	Citigroup, Inc.		25,275
	96	Citizens Financial Group, Inc.		3,645
	37	Fifth Third Bancorp		1,263
	833	FNB Corp.		9,963
	581	Fulton Financial Corp.		9,697
	104	Huntington Bancshares, Inc.		1,382
	156	International Bancshares Corp.		6,842
	37	JPMorgan Chase & Co.		4,268
	167	KeyCorp		3,056
	11	M&T Bank Corp.		1,952
	23	PNC Financial Services Group, Inc. (The)		3,817
	155	Regions Financial Corp.		3,283
	6	Signature Bank		1,113
	4	SVB Financial Group(a)		1,614
	176	Truist Financial Corp.		8,883
	242	Trustmark Corp.		7,858
	81	U.S. Bancorp		3,823
	149	Webster Financial Corp.		6,921
	429	Wells Fargo & Co.		18,820
	64	Wintrust Financial Corp.		5,507

				156,958

		Beverages — 1.2%
	33	Boston Beer Co., Inc. (The), Class A(a)		12,554
	165	Coca-Cola Co. (The)		10,588
	27	Keurig Dr Pepper, Inc.		1,046
		Beverages — continued
	402	Monster Beverage Corp.(a)		40,047
	40	PepsiCo, Inc.		6,999

				71,234

		Biotechnology — 1.8%
	65	AbbVie, Inc.		9,328
	130	Alnylam Pharmaceuticals, Inc.(a)		18,465
	27	Amgen, Inc.		6,682
	84	Arrowhead Pharmaceuticals, Inc.(a)		3,572
	16	Biogen, Inc.(a)		3,441
	111	BioMarin Pharmaceutical, Inc.(a)		9,552
	156	CRISPR Therapeutics AG(a)		11,700
	24	Gilead Sciences, Inc.		1,434
	101	Halozyme Therapeutics, Inc.(a)		4,939
	22	Moderna, Inc.(a)		3,610
	44	Neurocrine Biosciences, Inc.(a)		4,142
	50	Regeneron Pharmaceuticals, Inc.(a)		29,084

				105,949

		Building Products — 0.7%
	69	Builders FirstSource, Inc.(a)		4,692
	25	Carlisle Cos., Inc.		7,402
	45	Carrier Global Corp.		1,824
	26	Johnson Controls International PLC		1,402
	25	Lennox International, Inc.		5,988
	187	Masco Corp.		10,356
	75	Owens Corning		6,956
	48	Trex Co., Inc.(a)		3,097

				41,717

		Capital Markets — 3.7%
	10	Ameriprise Financial, Inc.		2,699
	365	Bank of New York Mellon Corp. (The)		15,863
	6	BlackRock, Inc.		4,015
	350	Charles Schwab Corp. (The)		24,168
	14	CME Group, Inc.		2,793
	41	FactSet Research Systems, Inc.		17,617
	55	Goldman Sachs Group, Inc. (The)		18,336
	157	Intercontinental Exchange, Inc.		16,012
	126	Janus Henderson Group PLC		3,247
	445	KKR & Co., Inc.		24,680
	52	Moody’s Corp.		16,133
	44	Morgan Stanley		3,709
	33	MSCI, Inc.		15,884
	17	Northern Trust Corp.		1,696
	34	S&P Global, Inc.		12,816
	224	SEI Investments Co.		12,401
	284	State Street Corp.		20,175
	24	Virtus Investment Partners, Inc.		4,952

				217,196

		Chemicals — 0.4%
	10	Air Products & Chemicals, Inc.		2,482
	22	DuPont de Nemours, Inc.		1,347
	69	HB Fuller Co.		4,430
	49	Innospec, Inc.		4,998
	17	Linde PLC		5,134
	57	Minerals Technologies, Inc.		3,808
	34	Stepan Co.		3,815

				26,014

		Commercial Services & Supplies — 0.4%
	35	MSA Safety, Inc.		4,492
	41	Tetra Tech, Inc.		6,284
	75	Viad Corp.(a)		2,533

See accompanying notes to financial statements.

77 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Commercial Services & Supplies — continued
	59	Waste Management, Inc.	$	9,709

				23,018

		Communications Equipment — 0.1%
	84	Ciena Corp.(a)		4,335
	46	Lumentum Holdings, Inc.(a)		4,161

				8,496

		Construction & Engineering — 0.2%
	136	AECOM		9,792

		Consumer Finance — 1.0%
	763	Ally Financial, Inc.		25,232
	86	American Express Co.		13,246
	160	Capital One Financial Corp.		17,573
	91	Green Dot Corp., Class A(a)		2,557

				58,608

		Containers & Packaging — 0.2%
	19	Ball Corp.		1,395
	35	International Paper Co.		1,497
	113	Sonoco Products Co.		7,174

				10,066

		Distributors — 0.1%
	31	Genuine Parts Co.		4,739

		Diversified Consumer Services — 0.2%
	57	Grand Canyon Education, Inc.(a)		5,476
	85	Service Corp. International		6,329

				11,805

		Diversified Telecommunication Services — 0.1%
	95	AT&T, Inc.		1,784
	120	Lumen Technologies, Inc.		1,307
	56	Verizon Communications, Inc.		2,587

				5,678

		Electric Utilities — 0.6%
	91	American Electric Power Co., Inc.		8,969
	103	Edison International		6,980
	113	Eversource Energy		9,969
	47	IDACORP, Inc.		5,251
	75	NextEra Energy, Inc.		6,337

				37,506

		Electrical Equipment — 1.3%
	18	Acuity Brands, Inc.		3,283
	349	ChargePoint Holdings, Inc.(a)		5,273
	22	Eaton Corp. PLC		3,265
	24	Emerson Electric Co.		2,162
	725	Fluence Energy, Inc.(a)		9,961
	32	Hubbell, Inc.		7,009
	559	Plug Power, Inc.(a)		11,929
	33	Rockwell Automation, Inc.		8,424
	394	Shoals Technologies Group, Inc., Class A(a)		9,310
	495	Sunrun, Inc.(a)		16,182

				76,798

		Electronic Equipment, Instruments & Components — 0.5%
	142	Avnet, Inc.		6,798
	90	Cognex Corp.		4,588
	24	Corning, Inc.		882
	18	II-VI, Inc.(a)		947
	99	Itron, Inc.(a)		5,782
	7	Keysight Technologies, Inc.(a)		1,138
	17	Littelfuse, Inc.		4,741
	42	TE Connectivity Ltd.		5,617

				30,493

		Energy Equipment & Services — 0.2%
	456	Archrock, Inc.		3,849
	42	Baker Hughes Co.		1,079
	198	ChampionX Corp.		4,136
	63	Schlumberger NV		2,333

				11,397

		Entertainment — 2.1%
	30	Activision Blizzard, Inc.		2,398
	70	Electronic Arts, Inc.		9,186
	259	Netflix, Inc.(a)		58,249
	98	Take-Two Interactive Software, Inc.(a)		13,008
	349	Walt Disney Co. (The)(a)		37,029
	390	Warner Bros Discovery, Inc.(a)		5,850

				125,720

		Food & Staples Retailing — 0.5%
	70	BJ’s Wholesale Club Holdings, Inc.(a)		4,739
	5	Costco Wholesale Corp.		2,706
	91	Kroger Co. (The)		4,226
	126	SpartanNash Co.		4,069
	162	Sprouts Farmers Market, Inc.(a)		4,478
	39	Sysco Corp.		3,311
	48	Walgreens Boots Alliance, Inc.		1,902
	26	Walmart, Inc.		3,433

				28,864

		Food Products — 0.5%
	54	Campbell Soup Co.		2,665
	155	Darling Ingredients, Inc.(a)		10,738
	40	General Mills, Inc.		2,992
	90	Hain Celestial Group, Inc. (The)(a)		2,048
	39	Hormel Foods Corp.		1,924
	47	Ingredion, Inc.		4,276
	11	J.M. Smucker Co. (The)		1,456
	20	Kellogg Co.		1,478
	12	McCormick & Co., Inc.		1,048

				28,625

		Gas Utilities — 0.2%
	157	New Jersey Resources Corp.		7,252
	54	ONE Gas, Inc.		4,587

				11,839

		Health Care Equipment & Supplies — 1.1%
	83	Abbott Laboratories		9,034
	18	Becton Dickinson & Co.		4,398
	6	Cooper Cos., Inc. (The)		1,962
	17	DexCom, Inc.(a)		1,395
	40	Edwards Lifesciences Corp.(a)		4,022
	48	Globus Medical, Inc., Class A(a)		2,817
	55	Haemonetics Corp.(a)		3,822
	20	Hologic, Inc.(a)		1,428
	55	Intuitive Surgical, Inc.(a)		12,659
	147	LeMaitre Vascular, Inc.		7,401
	25	Penumbra, Inc.(a)		3,484
	7	ResMed, Inc.		1,684
	22	Shockwave Medical, Inc.(a)		4,640
	6	STERIS PLC		1,354
	9	Stryker Corp.		1,933
	5	Teleflex, Inc.		1,202

				63,235

		Health Care Providers & Services — 1.5%
	71	Acadia Healthcare Co., Inc.(a)		5,887
	18	Amedisys, Inc.(a)		2,157
	63	Centene Corp.(a)		5,857

See accompanying notes to financial statements.

| 78

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	11	Chemed Corp.	$	5,292
	26	Cigna Corp.		7,159
	32	CVS Health Corp.		3,062
	18	Elevance Health, Inc.		8,588
	45	Encompass Health Corp.		2,278
	22	Enhabit, Inc.(a)		385
	96	HCA Healthcare, Inc.		20,392
	11	Humana, Inc.		5,302
	13	Quest Diagnostics, Inc.		1,775
	119	Select Medical Holdings Corp.		3,525
	66	Tenet Healthcare Corp.(a)		4,364
	19	UnitedHealth Group, Inc.		10,305

				86,328

		Health Care Technology — 0.7%
	228	Allscripts Healthcare Solutions, Inc.(a)		3,607
	498	Doximity, Inc., Class A(a)		21,075
	72	Veeva Systems, Inc., Class A(a)		16,098

				40,780

		Hotels, Restaurants & Leisure — 1.6%
	17	Booking Holdings, Inc.(a)		32,907
	27	Expedia Group, Inc.(a)		2,863
	65	Hilton Worldwide Holdings, Inc.		8,324
	54	Jack in the Box, Inc.		3,734
	18	McDonald’s Corp.		4,741
	199	Starbucks Corp.		16,871
	117	Travel & Leisure Co.		5,044
	243	Yum China Holdings, Inc.		11,836
	76	Yum! Brands, Inc.		9,313

				95,633

		Household Durables — 0.5%
	23	DR Horton, Inc.		1,795
	141	KB Home		4,602
	55	Meritage Homes Corp.(a)		4,857
	265	PulteGroup, Inc.		11,559
	190	Taylor Morrison Home Corp.(a)		5,453

				28,266

		Household Products — 0.5%
	154	Colgate-Palmolive Co.		12,126
	46	Kimberly-Clark Corp.		6,062
	77	Procter & Gamble Co. (The)		10,696

				28,884

		Independent Power & Renewable Electricity Producers — 0.3%
	62	AES Corp. (The)		1,378
	83	NextEra Energy Partners LP		6,867
	271	Sunnova Energy International, Inc.(a)		7,051

				15,296

		Industrial Conglomerates — 0.3%
	21	3M Co.		3,008
	140	General Electric Co.		10,347
	23	Honeywell International, Inc.		4,427

				17,782

		Insurance — 1.7%
	40	Aflac, Inc.		2,292
	23	Allstate Corp. (The)		2,690
	263	American International Group, Inc.		13,616
	25	Chubb Ltd.		4,716
	81	First American Financial Corp.		4,698
	49	Hanover Insurance Group, Inc. (The)		6,687
	38	Marsh & McLennan Cos., Inc.		6,230
		Insurance — continued
	180	Prudential Financial, Inc.		17,998
	133	Reinsurance Group of America, Inc.		15,399
	87	Selective Insurance Group, Inc.		6,774
	19	Travelers Cos., Inc. (The)		3,015
	84	Willis Towers Watson PLC		17,383

				101,498

		Interactive Media & Services — 2.6%
	380	Alphabet, Inc., Class A(a)		44,201
	273	Alphabet, Inc., Class C(a)		31,843
	350	Meta Platforms, Inc., Class A(a)		55,685
	864	Pinterest, Inc., Class A(a)		16,831
	169	Twitter, Inc.(a)		7,032

				155,592

		Internet & Direct Marketing Retail — 2.2%
	112	Alibaba Group Holding Ltd., Sponsored ADR(a)		10,010
	632	Amazon.com, Inc.(a)		85,288
	501	eBay, Inc.		24,364
	103	Etsy, Inc.(a)		10,683

				130,345

		IT Services — 3.1%
	10	Accenture PLC, Class A		3,063
	16	Automatic Data Processing, Inc.		3,858
	137	Block, Inc.(a)		10,420
	29	Cognizant Technology Solutions Corp., Class A		1,971
	32	Concentrix Corp.		4,280
	219	Fiserv, Inc.(a)		23,144
	59	Gartner, Inc.(a)		15,663
	123	Global Payments, Inc.		15,045
	29	International Business Machines Corp.		3,793
	60	Mastercard, Inc., Class A		21,227
	14	Paychex, Inc.		1,796
	168	PayPal Holdings, Inc.(a)		14,537
	34	Perficient, Inc.(a)		3,588
	262	Shopify, Inc., Class A(a)		9,126
	7	VeriSign, Inc.(a)		1,324
	215	Visa, Inc., Class A		45,604
	24	WEX, Inc.(a)		3,989

				182,428

		Leisure Products — 0.1%
	251	Mattel, Inc.(a)		5,823

		Life Sciences Tools & Services — 0.7%
	25	Agilent Technologies, Inc.		3,353
	23	Danaher Corp.		6,704
	78	Illumina, Inc.(a)		16,901
	5	IQVIA Holdings, Inc.(a)		1,201
	8	PerkinElmer, Inc.		1,225
	26	Repligen Corp.(a)		5,548
	10	Thermo Fisher Scientific, Inc.		5,984
	4	Waters Corp.(a)		1,456

				42,372

		Machinery — 1.4%
	35	AGCO Corp.		3,812
	18	Caterpillar, Inc.		3,569
	15	Chart Industries, Inc.(a)		2,926
	31	Cummins, Inc.		6,861
	34	Deere & Co.		11,668
	21	Illinois Tool Works, Inc.		4,363
	79	ITT, Inc.		5,928
	62	Oshkosh Corp.		5,338
	115	PACCAR, Inc.		10,525

See accompanying notes to financial statements.

79 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description	Value (†)
		Machinery — continued
	67	Parker-Hannifin Corp.	$	19,369
	75	Terex Corp.		2,513
	68	Toro Co. (The)		5,847

				82,719

		Media — 1.2%
	4	Cable One, Inc.		5,507
	61	Charter Communications, Inc., Class A(a)		26,358
	637	Comcast Corp., Class A		23,900
	107	Interpublic Group of Cos., Inc. (The)		3,196
	87	New York Times Co. (The), Class A		2,780
	107	News Corp., Class A		1,834
	71	News Corp., Class B		1,227
	47	Omnicom Group, Inc.		3,282
	41	Paramount Global, Class B		970

				69,054

		Metals & Mining — 0.4%
	53	Alcoa Corp.		2,697
	148	Cleveland-Cliffs, Inc.(a)		2,621
	108	Commercial Metals Co.		4,279
	33	Newmont Corp.		1,494
	10	Nucor Corp.		1,358
	31	Reliance Steel & Aluminum Co.		5,898
	77	Steel Dynamics, Inc.		5,997

				24,344

		Multi-Utilities — 0.2%
	59	Consolidated Edison, Inc.		5,857
	25	DTE Energy Co.		3,258
	15	WEC Energy Group, Inc.		1,557

				10,672

		Multiline Retail — 0.2%
	69	Kohl’s Corp.		2,011
	169	Macy’s, Inc.		2,983
	33	Target Corp.		5,391

				10,385

		Oil, Gas & Consumable Fuels — 2.3%
	401	Antero Midstream Corp.		4,034
	635	APA Corp.		23,603
	53	Chevron Corp.		8,680
	263	CNX Resources Corp.(a)		4,542
	229	ConocoPhillips		22,311
	65	Diamondback Energy, Inc.		8,321
	258	EOG Resources, Inc.		28,695
	113	EQT Corp.		4,975
	116	Exxon Mobil Corp.		11,244
	80	HF Sinclair Corp.		3,826
	99	Kinder Morgan, Inc.		1,781
	92	Marathon Oil Corp.		2,282
	21	Occidental Petroleum Corp.		1,381
	139	Range Resources Corp.(a)		4,597
	509	Southwestern Energy Co.(a)		3,593
	22	Valero Energy Corp.		2,437

				136,302

		Paper & Forest Products — 0.0%
	46	Louisiana-Pacific Corp.		2,927

		Pharmaceuticals — 1.9%
	195	Bristol-Myers Squibb Co.		14,387
	20	Eli Lilly & Co.		6,594
	34	Jazz Pharmaceuticals PLC(a)		5,306
	65	Johnson & Johnson		11,344
		Pharmaceuticals — continued
	134	Merck & Co., Inc.		11,972
	244	Novartis AG, Sponsored ADR		20,942
	94	Novo Nordisk A/S, Sponsored ADR		10,910
	78	Perrigo Co. PLC		3,266
	152	Pfizer, Inc.		7,677
	373	Roche Holding AG, Sponsored ADR		15,468
	16	Zoetis, Inc.		2,921

				110,787

		Professional Services — 0.6%
	72	Equifax, Inc.		15,041
	63	Exponent, Inc.		6,331
	64	Korn Ferry		4,193
	37	ManpowerGroup, Inc.		2,901
	21	Verisk Analytics, Inc.		3,995

				32,461

		Real Estate Management & Development — 0.4%
	216	CBRE Group, Inc., Class A(a)		18,494
	32	Jones Lang LaSalle, Inc.(a)		6,101

				24,595

		REITs – Apartments — 0.4%
	114	American Campus Communities, Inc.		7,447
	50	AvalonBay Communities, Inc.		10,697
	37	Equity Residential		2,900
	16	Essex Property Trust, Inc.		4,584

				25,628

		REITs – Diversified — 0.5%
	327	American Assets Trust, Inc.		9,885
	26	American Tower Corp.		7,042
	21	Crown Castle International Corp.		3,794
	9	Digital Realty Trust, Inc.		1,192
	3	Equinix, Inc.		2,111
	83	VICI Properties, Inc.		2,838
	75	Weyerhaeuser Co.		2,724

				29,586

		REITs – Health Care — 0.2%
	27	Ventas, Inc.		1,452
	129	Welltower, Inc.		11,138

				12,590

		REITs – Hotels — 0.0%
	83	Host Hotels & Resorts, Inc.		1,478

		REITs – Mortgage — 0.1%
	126	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		4,547

		REITs – Office Property — 0.7%
	67	Alexandria Real Estate Equities, Inc.		11,107
	572	Brandywine Realty Trust		5,348
	281	Corporate Office Properties Trust		7,910
	192	Douglas Emmett, Inc.		4,539
	257	Easterly Government Properties, Inc.		5,210
	87	Kilroy Realty Corp.		4,714

				38,828

		REITs – Shopping Centers — 0.2%
	463	Brixmor Property Group, Inc.		10,732

		REITs – Warehouse/Industrials — 0.1%
	46	ProLogis, Inc.		6,098

		Road & Rail — 0.8%
	14	Avis Budget Group, Inc.(a)		2,548
	131	Canadian Pacific Railway Ltd.		10,332

See accompanying notes to financial statements.

| 80

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Shares		Description		Value (†)
		Road & Rail — continued
	145	CSX Corp.		$	4,688
	56	Norfolk Southern Corp.			14,066
	50	Ryder System, Inc.			3,916
	55	Union Pacific Corp.			12,501

					48,051

		Semiconductors & Semiconductor Equipment — 2.7%
	63	Advanced Micro Devices, Inc.(a)			5,952
	21	Analog Devices, Inc.			3,611
	20	Broadcom, Inc.			10,710
	48	Cirrus Logic, Inc.(a)			4,102
	67	Enphase Energy, Inc.(a)			19,040
	41	First Solar, Inc.(a)			4,066
	107	Intel Corp.			3,885
	107	Lattice Semiconductor Corp.(a)			6,580
	39	Micron Technology, Inc.			2,413
	340	NVIDIA Corp.			61,754
	131	QUALCOMM, Inc.	��		19,003
	33	Silicon Laboratories, Inc.(a)			4,867
	21	Synaptics, Inc.(a)			3,044
	23	Texas Instruments, Inc.			4,114
	26	Universal Display Corp.			3,002
	48	Wolfspeed, Inc.(a)			3,998

					160,141

		Software — 4.5%
	34	Adobe, Inc.(a)			13,944
	6	ANSYS, Inc.(a)			1,674
	14	Aspen Technology, Inc.(a)			2,857
	160	Autodesk, Inc.(a)			34,611
	39	Blackbaud, Inc.(a)			2,391
	10	Citrix Systems, Inc.			1,014
	55	CommVault Systems, Inc.(a)			3,085
	10	Fair Isaac Corp.(a)			4,620
	50	Fortinet, Inc.(a)			2,983
	165	Microsoft Corp.			46,322
	64	NortonLifeLock, Inc.			1,570
	706	Oracle Corp.			54,955
	26	Paylocity Holding Corp.(a)			5,354
	34	Qualys, Inc.(a)			4,159
	274	Salesforce, Inc.(a)			50,422
	15	ServiceNow, Inc.(a)			6,700
	42	SPS Commerce, Inc.(a)			5,030
	157	Workday, Inc., Class A(a)			24,351

					266,042

		Specialty Retail — 0.8%
	16	Asbury Automotive Group, Inc.(a)			2,746
	1	AutoZone, Inc.(a)			2,137
	9	Best Buy Co., Inc.			693
	51	Boot Barn Holdings, Inc.(a)			3,177
	31	Five Below, Inc.(a)			3,939
	60	GameStop Corp., Class A(a)			2,041
	43	Home Depot, Inc. (The)			12,941
	15	Lithia Motors, Inc.			3,979
	30	Lowe’s Cos., Inc.			5,746
	41	TJX Cos., Inc. (The)			2,508
	5	Tractor Supply Co.			957
	3	Ulta Beauty, Inc.(a)			1,167
	33	Williams-Sonoma, Inc.			4,766

					46,797

		Technology Hardware, Storage & Peripherals — 0.1%
	107	Hewlett Packard Enterprise Co.			1,524
	62	HP, Inc.			2,070

					3,594

		Textiles, Apparel & Luxury Goods — 0.5%
	28	Crocs, Inc.(a)			2,006
	19	Deckers Outdoor Corp.(a)			5,951
	116	NIKE, Inc., Class B			13,331
	1,083	Under Armour, Inc., Class A(a)			10,029
	24	VF Corp.			1,072

					32,389

		Thrifts & Mortgage Finance — 0.3%
	744	MGIC Investment Corp.			10,520
	111	Mr. Cooper Group, Inc.(a)			5,001

					15,521

		Trading Companies & Distributors — 0.1%
	33	GATX Corp.			3,308

		Water Utilities — 0.2%
	51	American States Water Co.			4,446
	27	American Water Works Co., Inc.			4,197
	106	Essential Utilities, Inc.			5,505

					14,148

		Wireless Telecommunication Services — 0.0%
	18	T-Mobile US, Inc.(a)			2,575

		Total Common Stocks (Identified Cost $3,515,979)			3,518,838


Principal Amount
	Bonds and Notes — 3.9%
		Automotive — 0.1%
$	2,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027			1,967
	2,000	Lear Corp., 4.250%, 5/15/2029			1,880
	1,000	Toyota Motor Credit Corp., MTN, 2.150%, 2/13/2030			896

					4,743

		Banking — 0.7%
	2,000	American Express Co., 3.700%, 8/03/2023			2,008
	3,000	Bank of America Corp., MTN, 3.248%, 10/21/2027			2,897
	2,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024			2,015
	1,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024			999
	3,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026			2,736
	2,000	Citigroup, Inc., 4.600%, 3/09/2026			2,036
	5,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025			4,997
	6,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025			5,913
	3,000	KeyCorp, MTN, 2.550%, 10/01/2029			2,666
	1,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030			1,002
	2,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027			1,806
	2,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026			1,925
	2,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024			1,960
	1,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024			990
	1,000	State Street Corp., 2.400%, 1/24/2030			901
	1,000	Toronto-Dominion Bank (The), GMTN, 2.450%, 1/12/2032			865
	3,000	Truist Bank, 3.200%, 4/01/2024			2,999
	2,000	Westpac Banking Corp., 2.350%, 2/19/2025			1,951

					40,666

See accompanying notes to financial statements.

81 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Principal Amount		Description	Value (†)
		Brokerage — 0.1%
$	2,000	BlackRock, Inc., 2.400%, 4/30/2030	$	1,817
	3,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		2,326

				4,143

		Building Materials — 0.1%
	2,000	Fortune Brands Home & Security, Inc., 4.000%, 3/25/2032		1,834
	4,000	Owens Corning, 3.950%, 8/15/2029		3,813

				5,647

		Diversified Manufacturing — 0.1%
	4,000	3M Co., 3.050%, 4/15/2030		3,794
	1,000	Emerson Electric Co., 2.000%, 12/21/2028		913

				4,707

		Electric — 0.2%
	2,000	Duke Energy Corp., 3.750%, 4/15/2024		2,008
	3,000	Entergy Corp., 0.900%, 9/15/2025		2,732
	2,000	Exelon Corp., 4.050%, 4/15/2030		1,983
	2,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		1,760
	1,000	Pacific Gas & Electric Co., 4.550%, 7/01/2030		922
	2,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026		1,983

				11,388

		Environmental — 0.1%
	2,000	Republic Services, Inc., 1.450%, 2/15/2031		1,651
	2,000	Waste Management, Inc., 2.950%, 6/01/2041		1,630

				3,281

		Finance Companies — 0.0%
	1,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		874

		Food & Beverage — 0.1%
	3,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		2,796
	2,000	General Mills, Inc., 4.000%, 4/17/2025		2,025
	2,000	PepsiCo, Inc., 2.750%, 3/19/2030		1,907

				6,728

		Government Owned – No Guarantee — 0.1%
	2,000	Equinor ASA, 3.625%, 4/06/2040		1,835
	3,000	Federal National Mortgage Association, 6.625%, 11/15/2030		3,798

				5,633

		Health Insurance — 0.1%
	2,000	Elevance Health, Inc., 4.101%, 3/01/2028		2,028
	2,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		2,349

				4,377

		Healthcare — 0.1%
	1,000	CHRISTUS Health, Series C, 4.341%, 7/01/2028		1,021
	2,000	CVS Health Corp., 4.300%, 3/25/2028		2,033
	1,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		968
	1,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		992

				5,014

		Integrated Energy — 0.1%
	2,000	Exxon Mobil Corp., 2.992%, 3/19/2025		1,992
	2,000	Shell International Finance BV, 6.375%, 12/15/2038		2,408

				4,400

		Mortgage Related — 0.9%
	8,658	FHLMC, 2.500%, with various maturities from 2051 to 2052(b)		8,081
	3,925	FHLMC, 3.000%, 4/01/2052		3,782
	6,899	FHLMC, 3.500%, 5/01/2052		6,832
		Mortgage Related — continued
	10,204	FNMA, 2.000%, with various maturities in 2051(b)		9,199
	8,737	FNMA, 2.500%, with various maturities in 2051(b)		8,165
	10,048	FNMA, 3.000%, with various maturities from 2034 to 2052(b)		9,726
	6,141	FNMA, 3.500%, with various maturities from 2049 to 2052(b)		6,092
	220	FNMA, 4.000%, 3/01/2050		222
	370	FNMA, 4.500%, 5/01/2049		380

				52,479

		Natural Gas — 0.0%
	3,000	NiSource, Inc., 0.950%, 8/15/2025		2,746

		Pharmaceuticals — 0.1%
	2,000	AbbVie, Inc., 3.600%, 5/14/2025		2,000
	1,000	Biogen, Inc., 2.250%, 5/01/2030		854
	3,000	Bristol-Myers Squibb Co., 3.400%, 7/26/2029		2,971
	1,000	Viatris, Inc., 3.850%, 6/22/2040		730

				6,555

		Railroads — 0.0%
	2,000	CSX Corp., 2.600%, 11/01/2026		1,944

		REITs – Health Care — 0.0%
	1,000	Welltower, Inc., 2.800%, 6/01/2031		867

		REITs – Office Property — 0.1%
	2,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		1,990
	1,000	Boston Properties LP, 2.750%, 10/01/2026		948
	3,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		2,545

				5,483

		REITs – Single Tenant — 0.0%
	2,000	Spirit Realty LP, 2.700%, 2/15/2032		1,611

		REITs – Warehouse/Industrials — 0.0%
	1,000	Prologis LP, 1.250%, 10/15/2030		823

		Restaurants — 0.0%
	2,000	Starbucks Corp., 2.250%, 3/12/2030		1,758

		Retailers — 0.1%
	1,000	Amazon.com, Inc., 3.875%, 8/22/2037		1,007
	3,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		2,638

				3,645

		Technology — 0.2%
	2,000	Apple, Inc., 2.500%, 2/09/2025		1,982
	1,000	Intel Corp., 2.450%, 11/15/2029		922
	3,000	International Business Machines Corp., 4.000%, 6/20/2042		2,735
	1,000	NVIDIA Corp., 2.850%, 4/01/2030		954
	2,000	Oracle Corp., 2.950%, 5/15/2025		1,950
	4,000	QUALCOMM, Inc., 1.650%, 5/20/2032		3,388

				11,931

		Treasuries — 0.5%
	2,000	U.S. Treasury Bond, 2.250%, 5/15/2041		1,712
	2,000	U.S. Treasury Bond, 2.500%, 5/15/2046		1,733
	4,000	U.S. Treasury Bond, 2.875%, 11/15/2046		3,720
	6,000	U.S. Treasury Bond, 3.000%, 5/15/2045		5,685
	3,000	U.S. Treasury Bond, 3.000%, 2/15/2048		2,886
	5,000	U.S. Treasury Bond, 3.000%, 2/15/2049		4,875
	9,000	U.S. Treasury Note, 0.375%, 11/30/2025		8,307

				28,918

		Utility Other — 0.0%
	3,000	Essential Utilities, Inc., 4.276%, 5/01/2049		2,711

See accompanying notes to financial statements.

| 82

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2060 Fund – (continued)


Principal Amount		Description	Value (†)
		Wireless — 0.0%
$	2,000	Vodafone Group PLC, 6.150%, 2/27/2037	$	2,226

		Wirelines — 0.1%
	4,000	Verizon Communications, Inc., 3-month LIBOR + 1.100%, 2.511%, 5/15/2025(c)		3,992

		Total Bonds and Notes (Identified Cost $248,279)		229,290


Shares
	Exchange-Traded Funds — 9.1%
	8,084	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $611,742)		535,242


	Mutual Funds — 14.5%
	24,477	WCM Focused Emerging Markets Fund, Institutional Class		324,560
	25,509	WCM Focused International Growth Fund, Institutional Class		531,099

		Total Mutual Funds (Identified Cost $1,057,344)		855,659


	Affiliated Mutual Funds — 10.5%
	9,857	Mirova Global Green Bond Fund, Class N		88,517
	47,462	Mirova International Sustainable Equity Fund, Class N		531,099

		Total Affiliated Mutual Funds (Identified Cost $747,473)		619,616


Principal Amount
	Short-Term Investments — 2.7%
$	162,631	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $162,640 on 8/01/2022 collateralized by $165,400 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $166,240 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $162,631)		162,631


		Total Investments — 100.4% (Identified Cost $6,343,448)		5,921,276
		Other assets less liabilities — (0.4)%		(24,286	)

		Net Assets — 100.0%	$	5,896,990


	(†)	See Note 2 of Notes to Financial Statements.
	(a)	Non-income producing security.
	(b)	The Fund’s investment in mortgage related securities of Federal Home Loan Mortgage Corporation and 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, 2022 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, 2022 (Unaudited)


Equity	92.3	%
Fixed Income	5.4
Short-Term Investments	2.7

Total Investments	100.4
Other assets less liabilities	(0.4	)

Net Assets	100.0	%

See accompanying notes to financial statements.

83 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund


Shares		Description	Value (†)
	Common Stocks — 60.0% of Net Assets
		Aerospace & Defense — 1.0%
	47	AAR Corp.(a)	$	2,093
	12	Axon Enterprise, Inc.(a)		1,322
	104	Boeing Co. (The)(a)		16,568
	2	L3Harris Technologies, Inc.		480
	3	Lockheed Martin Corp.		1,242
	17	Moog, Inc., Class A		1,456
	2	Northrop Grumman Corp.		958
	30	Raytheon Technologies Corp.		2,796

				26,915

		Air Freight & Logistics — 0.3%
	53	Expeditors International of Washington, Inc.		5,631
	3	FedEx Corp.		699
	21	GXO Logistics, Inc.(a)		1,008
	6	United Parcel Service, Inc., Class B		1,170

				8,508

		Airlines — 0.1%
	49	Delta Air Lines, Inc.(a)		1,558
	174	JetBlue Airways Corp.(a)		1,465

				3,023

		Auto Components — 0.4%
	152	BorgWarner, Inc.		5,846
	118	Dana, Inc.		1,978
	18	Dorman Products, Inc.(a)		1,819
	14	Visteon Corp.(a)		1,786

				11,429

		Automobiles — 1.3%
	256	General Motors Co.(a)		9,283
	27	Tesla, Inc.(a)		24,069
	16	Thor Industries, Inc.		1,349

				34,701

		Banks — 2.6%
	79	Ameris Bancorp		3,736
	185	Bank of America Corp.		6,255
	81	Cadence Bank		2,114
	202	Citigroup, Inc.		10,484
	46	Citizens Financial Group, Inc.		1,747
	16	Fifth Third Bancorp		546
	364	FNB Corp.		4,354
	254	Fulton Financial Corp.		4,239
	48	Huntington Bancshares, Inc.		638
	68	International Bancshares Corp.		2,983
	15	JPMorgan Chase & Co.		1,730
	80	KeyCorp		1,464
	5	M&T Bank Corp.		887
	10	PNC Financial Services Group, Inc. (The)		1,659
	77	Regions Financial Corp.		1,631
	3	Signature Bank		557
	2	SVB Financial Group(a)		807
	77	Truist Financial Corp.		3,886
	105	Trustmark Corp.		3,409
	37	U.S. Bancorp		1,746
	64	Webster Financial Corp.		2,973
	175	Wells Fargo & Co.		7,677
	28	Wintrust Financial Corp.		2,409

				67,931

		Beverages — 1.2%
	13	Boston Beer Co., Inc. (The), Class A(a)		4,945
	69	Coca-Cola Co. (The)		4,428
	12	Keurig Dr Pepper, Inc.		465
		Beverages — continued
	190	Monster Beverage Corp.(a)		18,928
	17	PepsiCo, Inc.		2,974

				31,740

		Biotechnology — 1.9%
	30	AbbVie, Inc.		4,305
	61	Alnylam Pharmaceuticals, Inc.(a)		8,664
	13	Amgen, Inc.		3,217
	39	Arrowhead Pharmaceuticals, Inc.(a)		1,659
	9	Biogen, Inc.(a)		1,936
	47	BioMarin Pharmaceutical, Inc.(a)		4,044
	70	CRISPR Therapeutics AG(a)		5,250
	8	Gilead Sciences, Inc.		478
	41	Halozyme Therapeutics, Inc.(a)		2,005
	10	Moderna, Inc.(a)		1,641
	20	Neurocrine Biosciences, Inc.(a)		1,883
	22	Regeneron Pharmaceuticals, Inc.(a)		12,797

				47,879

		Building Products — 0.7%
	29	Builders FirstSource, Inc.(a)		1,972
	11	Carlisle Cos., Inc.		3,257
	21	Carrier Global Corp.		851
	12	Johnson Controls International PLC		647
	11	Lennox International, Inc.		2,635
	76	Masco Corp.		4,209
	32	Owens Corning		2,968
	21	Trex Co., Inc.(a)		1,355

				17,894

		Capital Markets — 3.7%
	4	Ameriprise Financial, Inc.		1,080
	159	Bank of New York Mellon Corp. (The)		6,910
	3	BlackRock, Inc.		2,007
	157	Charles Schwab Corp. (The)		10,841
	6	CME Group, Inc.		1,197
	17	FactSet Research Systems, Inc.		7,305
	23	Goldman Sachs Group, Inc. (The)		7,668
	65	Intercontinental Exchange, Inc.		6,629
	58	Janus Henderson Group PLC		1,495
	190	KKR & Co., Inc.		10,537
	23	Moody’s Corp.		7,136
	25	Morgan Stanley		2,107
	14	MSCI, Inc.		6,739
	7	Northern Trust Corp.		698
	16	S&P Global, Inc.		6,031
	105	SEI Investments Co.		5,813
	121	State Street Corp.		8,596
	10	Virtus Investment Partners, Inc.		2,063

				94,852

		Chemicals — 0.4%
	4	Air Products & Chemicals, Inc.		993
	11	DuPont de Nemours, Inc.		674
	29	HB Fuller Co.		1,862
	22	Innospec, Inc.		2,244
	6	Linde PLC		1,812
	25	Minerals Technologies, Inc.		1,670
	15	Stepan Co.		1,683

				10,938

		Commercial Services & Supplies — 0.4%
	16	MSA Safety, Inc.		2,054
	18	Tetra Tech, Inc.		2,759
	34	Viad Corp.(a)		1,148
	27	Waste Management, Inc.		4,443

				10,404

See accompanying notes to financial statements.

| 84

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Shares		Description	Value (†)
		Communications Equipment — 0.2%
	38	Ciena Corp.(a)	$	1,961
	21	Lumentum Holdings, Inc.(a)		1,900

				3,861

		Construction & Engineering — 0.2%
	59	AECOM		4,248

		Consumer Finance — 1.0%
	309	Ally Financial, Inc.		10,219
	41	American Express Co.		6,315
	68	Capital One Financial Corp.		7,468
	43	Green Dot Corp., Class A(a)		1,208

				25,210

		Containers & Packaging — 0.2%
	8	Ball Corp.		587
	19	International Paper Co.		813
	46	Sonoco Products Co.		2,921

				4,321

		Distributors — 0.1%
	14	Genuine Parts Co.		2,140

		Diversified Consumer Services — 0.2%
	24	Grand Canyon Education, Inc.(a)		2,306
	37	Service Corp. International		2,755

				5,061

		Diversified Telecommunication Services — 0.1%
	43	AT&T, Inc.		807
	53	Lumen Technologies, Inc.		577
	25	Verizon Communications, Inc.		1,155

				2,539

		Electric Utilities — 0.6%
	38	American Electric Power Co., Inc.		3,745
	47	Edison International		3,185
	43	Eversource Energy		3,794
	21	IDACORP, Inc.		2,346
	34	NextEra Energy, Inc.		2,873

				15,943

		Electrical Equipment — 1.3%
	7	Acuity Brands, Inc.		1,277
	156	ChargePoint Holdings, Inc.(a)		2,357
	9	Eaton Corp. PLC		1,336
	11	Emerson Electric Co.		991
	330	Fluence Energy, Inc.(a)		4,534
	14	Hubbell, Inc.		3,066
	253	Plug Power, Inc.(a)		5,399
	16	Rockwell Automation, Inc.		4,085
	178	Shoals Technologies Group, Inc., Class A(a)		4,206
	225	Sunrun, Inc.(a)		7,355

				34,606

		Electronic Equipment, Instruments & Components — 0.5%
	58	Avnet, Inc.		2,777
	41	Cognex Corp.		2,090
	15	Corning, Inc.		551
	8	II-VI, Inc.(a)		421
	42	Itron, Inc.(a)		2,453
	3	Keysight Technologies, Inc.(a)		488
	8	Littelfuse, Inc.		2,231
	18	TE Connectivity Ltd.		2,407

				13,418

		Energy Equipment & Services — 0.2%
	210	Archrock, Inc.		1,772
	23	Baker Hughes Co.		591
		Energy Equipment & Services — continued
	92	ChampionX Corp.		1,922
	32	Schlumberger NV		1,185

				5,470

		Entertainment — 2.1%
	14	Activision Blizzard, Inc.		1,119
	31	Electronic Arts, Inc.		4,068
	111	Netflix, Inc.(a)		24,964
	40	Take-Two Interactive Software, Inc.(a)		5,309
	159	Walt Disney Co. (The)(a)		16,870
	155	Warner Bros Discovery, Inc.(a)		2,325

				54,655

		Food & Staples Retailing — 0.5%
	30	BJ’s Wholesale Club Holdings, Inc.(a)		2,031
	2	Costco Wholesale Corp.		1,083
	42	Kroger Co. (The)		1,950
	54	SpartanNash Co.		1,744
	70	Sprouts Farmers Market, Inc.(a)		1,935
	17	Sysco Corp.		1,443
	25	Walgreens Boots Alliance, Inc.		990
	11	Walmart, Inc.		1,453

				12,629

		Food Products — 0.5%
	28	Campbell Soup Co.		1,382
	68	Darling Ingredients, Inc.(a)		4,711
	17	General Mills, Inc.		1,271
	42	Hain Celestial Group, Inc. (The)(a)		956
	18	Hormel Foods Corp.		888
	21	Ingredion, Inc.		1,911
	6	J.M. Smucker Co. (The)		794
	11	Kellogg Co.		813
	6	McCormick & Co., Inc.		524

				13,250

		Gas Utilities — 0.2%
	67	New Jersey Resources Corp.		3,095
	24	ONE Gas, Inc.		2,038

				5,133

		Health Care Equipment & Supplies — 1.0%
	38	Abbott Laboratories		4,136
	8	Becton Dickinson & Co.		1,954
	2	Cooper Cos., Inc. (The)		654
	8	DexCom, Inc.(a)		657
	19	Edwards Lifesciences Corp.(a)		1,910
	21	Globus Medical, Inc., Class A(a)		1,232
	26	Haemonetics Corp.(a)		1,807
	10	Hologic, Inc.(a)		714
	20	Intuitive Surgical, Inc.(a)		4,603
	60	LeMaitre Vascular, Inc.		3,021
	10	Penumbra, Inc.(a)		1,394
	3	ResMed, Inc.		722
	9	Shockwave Medical, Inc.(a)		1,898
	3	STERIS PLC		677
	4	Stryker Corp.		859
	2	Teleflex, Inc.		481

				26,719

		Health Care Providers & Services — 1.4%
	29	Acadia Healthcare Co., Inc.(a)		2,404
	7	Amedisys, Inc.(a)		839
	29	Centene Corp.(a)		2,696
	4	Chemed Corp.		1,924
	10	Cigna Corp.		2,754

See accompanying notes to financial statements.

85 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Shares		Description	Value (†)
		Health Care Providers & Services — continued
	13	CVS Health Corp.	$	1,244
	8	Elevance Health, Inc.		3,817
	19	Encompass Health Corp.		962
	9	Enhabit, Inc.(a)		158
	41	HCA Healthcare, Inc.		8,709
	5	Humana, Inc.		2,410
	6	Quest Diagnostics, Inc.		819
	57	Select Medical Holdings Corp.		1,688
	29	Tenet Healthcare Corp.(a)		1,918
	8	UnitedHealth Group, Inc.		4,339

				36,681

		Health Care Technology — 0.7%
	101	Allscripts Healthcare Solutions, Inc.(a)		1,598
	217	Doximity, Inc., Class A(a)		9,183
	34	Veeva Systems, Inc., Class A(a)		7,602

				18,383

		Hotels, Restaurants & Leisure — 1.6%
	7	Booking Holdings, Inc.(a)		13,550
	12	Expedia Group, Inc.(a)		1,273
	27	Hilton Worldwide Holdings, Inc.		3,458
	23	Jack in the Box, Inc.		1,590
	7	McDonald’s Corp.		1,843
	99	Starbucks Corp.		8,393
	52	Travel & Leisure Co.		2,242
	114	Yum China Holdings, Inc.		5,553
	36	Yum! Brands, Inc.		4,411

				42,313

		Household Durables — 0.5%
	11	DR Horton, Inc.		858
	61	KB Home		1,991
	25	Meritage Homes Corp.(a)		2,208
	108	PulteGroup, Inc.		4,711
	83	Taylor Morrison Home Corp.(a)		2,382

				12,150

		Household Products — 0.5%
	65	Colgate-Palmolive Co.		5,118
	21	Kimberly-Clark Corp.		2,768
	32	Procter & Gamble Co. (The)		4,445

				12,331

		Independent Power & Renewable Electricity Producers — 0.3%
	32	AES Corp. (The)		711
	38	NextEra Energy Partners LP		3,144
	141	Sunnova Energy International, Inc.(a)		3,669

				7,524

		Industrial Conglomerates — 0.3%
	9	3M Co.		1,289
	57	General Electric Co.		4,213
	9	Honeywell International, Inc.		1,732

				7,234

		Insurance — 1.7%
	19	Aflac, Inc.		1,089
	9	Allstate Corp. (The)		1,053
	112	American International Group, Inc.		5,798
	10	Chubb Ltd.		1,886
	37	First American Financial Corp.		2,146
	20	Hanover Insurance Group, Inc. (The)		2,729
	16	Marsh & McLennan Cos., Inc.		2,623
	80	Prudential Financial, Inc.		7,999
	56	Reinsurance Group of America, Inc.		6,484
		Insurance — continued
	38	Selective Insurance Group, Inc.		2,959
	10	Travelers Cos., Inc. (The)		1,587
	34	Willis Towers Watson PLC		7,036

				43,389

		Interactive Media & Services — 2.7%
	220	Alphabet, Inc., Class A(a)		25,591
	80	Alphabet, Inc., Class C(a)		9,331
	151	Meta Platforms, Inc., Class A(a)		24,024
	350	Pinterest, Inc., Class A(a)		6,818
	76	Twitter, Inc.(a)		3,162

				68,926

		Internet & Direct Marketing Retail — 2.3%
	55	Alibaba Group Holding Ltd., Sponsored ADR(a)		4,915
	291	Amazon.com, Inc.(a)		39,270
	214	eBay, Inc.		10,407
	44	Etsy, Inc.(a)		4,564

				59,156

		IT Services — 3.1%
	4	Accenture PLC, Class A		1,225
	6	Automatic Data Processing, Inc.		1,447
	61	Block, Inc.(a)		4,640
	15	Cognizant Technology Solutions Corp., Class A		1,019
	14	Concentrix Corp.		1,873
	89	Fiserv, Inc.(a)		9,405
	25	Gartner, Inc.(a)		6,637
	52	Global Payments, Inc.		6,361
	12	International Business Machines Corp.		1,569
	26	Mastercard, Inc., Class A		9,198
	6	Paychex, Inc.		770
	77	PayPal Holdings, Inc.(a)		6,663
	15	Perficient, Inc.(a)		1,583
	111	Shopify, Inc., Class A(a)		3,866
	4	VeriSign, Inc.(a)		757
	100	Visa, Inc., Class A		21,211
	10	WEX, Inc.(a)		1,662

				79,886

		Leisure Products — 0.1%
	99	Mattel, Inc.(a)		2,297

		Life Sciences Tools & Services — 0.7%
	12	Agilent Technologies, Inc.		1,609
	10	Danaher Corp.		2,915
	31	Illumina, Inc.(a)		6,717
	2	IQVIA Holdings, Inc.(a)		480
	5	PerkinElmer, Inc.		766
	11	Repligen Corp.(a)		2,347
	4	Thermo Fisher Scientific, Inc.		2,394
	2	Waters Corp.(a)		728

				17,956

		Machinery — 1.4%
	20	AGCO Corp.		2,178
	7	Caterpillar, Inc.		1,388
	6	Chart Industries, Inc.(a)		1,171
	12	Cummins, Inc.		2,656
	17	Deere & Co.		5,834
	9	Illinois Tool Works, Inc.		1,870
	34	ITT, Inc.		2,551
	27	Oshkosh Corp.		2,325
	47	PACCAR, Inc.		4,301
	27	Parker-Hannifin Corp.		7,805
	36	Terex Corp.		1,206
	29	Toro Co. (The)		2,494

				35,779

See accompanying notes to financial statements.

| 86

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Shares		Description	Value (†)
		Media — 1.2%
	2	Cable One, Inc.	$	2,753
	26	Charter Communications, Inc., Class A(a)		11,235
	270	Comcast Corp., Class A		10,130
	42	Interpublic Group of Cos., Inc. (The)		1,254
	39	New York Times Co. (The), Class A		1,246
	49	News Corp., Class A		840
	32	News Corp., Class B		553
	21	Omnicom Group, Inc.		1,467
	18	Paramount Global, Class B		426

				29,904

		Metals & Mining — 0.4%
	24	Alcoa Corp.		1,221
	69	Cleveland-Cliffs, Inc.(a)		1,222
	45	Commercial Metals Co.		1,783
	9	Newmont Corp.		408
	5	Nucor Corp.		679
	14	Reliance Steel & Aluminum Co.		2,663
	34	Steel Dynamics, Inc.		2,648

				10,624

		Multi-Utilities — 0.2%
	24	Consolidated Edison, Inc.		2,382
	10	DTE Energy Co.		1,303
	6	WEC Energy Group, Inc.		623

				4,308

		Multiline Retail — 0.2%
	31	Kohl’s Corp.		903
	78	Macy’s, Inc.		1,377
	14	Target Corp.		2,287

				4,567

		Oil, Gas & Consumable Fuels — 2.2%
	169	Antero Midstream Corp.		1,700
	267	APA Corp.		9,924
	23	Chevron Corp.		3,767
	111	CNX Resources Corp.(a)		1,917
	95	ConocoPhillips		9,256
	28	Diamondback Energy, Inc.		3,585
	109	EOG Resources, Inc.		12,123
	48	EQT Corp.		2,113
	48	Exxon Mobil Corp.		4,653
	30	HF Sinclair Corp.		1,435
	49	Kinder Morgan, Inc.		882
	45	Marathon Oil Corp.		1,116
	7	Occidental Petroleum Corp.		460
	58	Range Resources Corp.(a)		1,918
	237	Southwestern Energy Co.(a)		1,673
	8	Valero Energy Corp.		886

				57,408

		Paper & Forest Products — 0.1%
	21	Louisiana-Pacific Corp.		1,336

		Pharmaceuticals — 1.9%
	86	Bristol-Myers Squibb Co.		6,345
	9	Eli Lilly & Co.		2,967
	14	Jazz Pharmaceuticals PLC(a)		2,185
	27	Johnson & Johnson		4,712
	56	Merck & Co., Inc.		5,003
	117	Novartis AG, Sponsored ADR		10,042
	44	Novo Nordisk A/S, Sponsored ADR		5,107
	29	Perrigo Co. PLC		1,214
	66	Pfizer, Inc.		3,334
	176	Roche Holding AG, Sponsored ADR		7,299
	6	Zoetis, Inc.		1,095

				49,303

		Professional Services — 0.5%
	29	Equifax, Inc.		6,058
	27	Exponent, Inc.		2,713
	27	Korn Ferry		1,769
	16	ManpowerGroup, Inc.		1,255
	9	Verisk Analytics, Inc.		1,712

				13,507

		Real Estate Management & Development — 0.4%
	92	CBRE Group, Inc., Class A(a)		7,877
	14	Jones Lang LaSalle, Inc.(a)		2,669

				10,546

		REITs – Apartments — 0.4%
	50	American Campus Communities, Inc.		3,266
	22	AvalonBay Communities, Inc.		4,707
	16	Equity Residential		1,254
	6	Essex Property Trust, Inc.		1,719

				10,946

		REITs – Diversified — 0.5%
	142	American Assets Trust, Inc.		4,293
	12	American Tower Corp.		3,250
	12	Crown Castle International Corp.		2,168
	5	Digital Realty Trust, Inc.		662
	1	Equinix, Inc.		704
	30	VICI Properties, Inc.		1,026
	42	Weyerhaeuser Co.		1,525

				13,628

		REITs – Health Care — 0.2%
	13	Ventas, Inc.		699
	58	Welltower, Inc.		5,008

				5,707

		REITs – Hotels — 0.0%
	41	Host Hotels & Resorts, Inc.		730

		REITs – Mortgage — 0.1%
	57	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		2,057

		REITs – Office Property — 0.7%
	31	Alexandria Real Estate Equities, Inc.		5,139
	259	Brandywine Realty Trust		2,422
	122	Corporate Office Properties Trust		3,434
	85	Douglas Emmett, Inc.		2,009
	113	Easterly Government Properties, Inc.		2,291
	37	Kilroy Realty Corp.		2,005

				17,300

		REITs – Shopping Centers — 0.2%
	202	Brixmor Property Group, Inc.		4,682

		REITs – Warehouse/Industrials — 0.1%
	21	ProLogis, Inc.		2,784

		Road & Rail — 0.9%
	6	Avis Budget Group, Inc.(a)		1,092
	64	Canadian Pacific Railway Ltd.		5,048
	61	CSX Corp.		1,972
	26	Norfolk Southern Corp.		6,530
	21	Ryder System, Inc.		1,645
	26	Union Pacific Corp.		5,910

				22,197

		Semiconductors & Semiconductor Equipment — 2.8%
	29	Advanced Micro Devices, Inc.(a)		2,740
	8	Analog Devices, Inc.		1,376
	9	Broadcom, Inc.		4,819
	22	Cirrus Logic, Inc.(a)		1,880
	31	Enphase Energy, Inc.(a)		8,809

See accompanying notes to financial statements.

87 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Shares		Description	Value (†)
		Semiconductors & Semiconductor Equipment — continued
	17	First Solar, Inc.(a)	$	1,686
	45	Intel Corp.		1,634
	47	Lattice Semiconductor Corp.(a)		2,890
	16	Micron Technology, Inc.		990
	159	NVIDIA Corp.		28,879
	65	QUALCOMM, Inc.		9,429
	14	Silicon Laboratories, Inc.(a)		2,065
	9	Synaptics, Inc.(a)		1,304
	9	Texas Instruments, Inc.		1,610
	11	Universal Display Corp.		1,270
	22	Wolfspeed, Inc.(a)		1,833

				73,214

		Software — 4.7%
	16	Adobe, Inc.(a)		6,562
	3	ANSYS, Inc.(a)		837
	6	Aspen Technology, Inc.(a)		1,225
	74	Autodesk, Inc.(a)		16,008
	18	Blackbaud, Inc.(a)		1,104
	5	Citrix Systems, Inc.		507
	24	CommVault Systems, Inc.(a)		1,346
	5	Fair Isaac Corp.(a)		2,310
	23	Fortinet, Inc.(a)		1,372
	77	Microsoft Corp.		21,617
	29	NortonLifeLock, Inc.		711
	325	Oracle Corp.		25,298
	11	Paylocity Holding Corp.(a)		2,265
	14	Qualys, Inc.(a)		1,713
	123	Salesforce, Inc.(a)		22,634
	8	ServiceNow, Inc.(a)		3,573
	19	SPS Commerce, Inc.(a)		2,275
	70	Workday, Inc., Class A(a)		10,857

				122,214

		Specialty Retail — 0.9%
	7	Asbury Automotive Group, Inc.(a)		1,202
	1	AutoZone, Inc.(a)		2,137
	5	Best Buy Co., Inc.		385
	22	Boot Barn Holdings, Inc.(a)		1,371
	13	Five Below, Inc.(a)		1,652
	28	GameStop Corp., Class A(a)		952
	20	Home Depot, Inc. (The)		6,019
	7	Lithia Motors, Inc.		1,857
	14	Lowe’s Cos., Inc.		2,681
	20	TJX Cos., Inc. (The)		1,223
	2	Tractor Supply Co.		383
	1	Ulta Beauty, Inc.(a)		389
	14	Williams-Sonoma, Inc.		2,022

				22,273

		Technology Hardware, Storage & Peripherals — 0.1%
	50	Hewlett Packard Enterprise Co.		712
	30	HP, Inc.		1,002

				1,714

		Textiles, Apparel & Luxury Goods — 0.5%
	13	Crocs, Inc.(a)		931
	8	Deckers Outdoor Corp.(a)		2,506
	51	NIKE, Inc., Class B		5,861
	429	Under Armour, Inc., Class A(a)		3,973
	11	VF Corp.		491

				13,762

		Thrifts & Mortgage Finance — 0.3%
	308	MGIC Investment Corp.		4,355
	50	Mr. Cooper Group, Inc.(a)		2,253

				6,608

		Trading Companies & Distributors — 0.1%
	15	GATX Corp.		1,504

		Water Utilities — 0.2%
	20	American States Water Co.		1,744
	11	American Water Works Co., Inc.		1,710
	46	Essential Utilities, Inc.		2,389

				5,843

		Wireless Telecommunication Services — 0.0%
	7	T-Mobile US, Inc.(a)		1,001

		Total Common Stocks (Identified Cost $1,717,042)		1,549,089


Principal Amount
	Bonds and Notes — 3.8%
		Automotive — 0.1%
$	1,000	General Motors Financial Co., Inc., 4.350%, 1/17/2027		983

		Banking — 0.7%
	1,000	American Express Co., 3.700%, 8/03/2023		1,004
	1,000	Bank of America Corp., MTN, 3.248%, 10/21/2027		966
	1,000	Bank of New York Mellon Corp. (The), Series 12, MTN, 3.650%, 2/04/2024		1,008
	1,000	Bank of Nova Scotia (The), 3.400%, 2/11/2024		999
	1,000	Canadian Imperial Bank of Commerce, 1.250%, 6/22/2026		912
	1,000	Citigroup, Inc., 4.600%, 3/09/2026		1,018
	1,000	Goldman Sachs Group, Inc. (The), 3.750%, 5/22/2025		999
	1,000	JPMorgan Chase & Co., (fixed rate to 3/01/2024, variable rate thereafter), 3.220%, 3/01/2025		986
	1,000	KeyCorp, MTN, 2.550%, 10/01/2029		889
	1,000	Macquarie Group Ltd., (fixed rate to 11/28/2027, variable rate thereafter), 3.763%, 11/28/2028, 144A		955
	1,000	Morgan Stanley, (fixed rate to 1/23/2029, variable rate thereafter), GMTN, 4.431%, 1/23/2030		1,002
	1,000	Morgan Stanley, (fixed rate to 7/20/2026, variable rate thereafter), GMTN, 1.512%, 7/20/2027		903
	1,000	PNC Financial Services Group, Inc. (The), 2.600%, 7/23/2026		962
	1,000	Royal Bank of Canada, GMTN, 2.550%, 7/16/2024		980
	1,000	Santander Holdings USA, Inc., 3.500%, 6/07/2024		990
	1,000	State Street Corp., 2.400%, 1/24/2030		901
	1,000	Truist Bank, 3.200%, 4/01/2024		1,000
	1,000	Westpac Banking Corp., 2.350%, 2/19/2025		975

				17,449

		Brokerage — 0.1%
	1,000	BlackRock, Inc., 2.400%, 4/30/2030		909
	1,000	Intercontinental Exchange, Inc., 3.000%, 6/15/2050		775

				1,684

		Building Materials — 0.0%
	1,000	Owens Corning, 3.950%, 8/15/2029		953

		Diversified Manufacturing — 0.1%
	1,000	3M Co., 3.050%, 4/15/2030		948
	1,000	Emerson Electric Co., 2.000%, 12/21/2028		913

				1,861

		Electric — 0.2%
	1,000	Duke Energy Corp., 3.750%, 4/15/2024		1,004
	1,000	Entergy Corp., 0.900%, 9/15/2025		911
	1,000	Exelon Corp., 4.050%, 4/15/2030		991
	1,000	NextEra Energy Capital Holdings, Inc., 2.250%, 6/01/2030		880

See accompanying notes to financial statements.

| 88

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Principal Amount		Description	Value (†)
		Electric — continued
$	1,000	Virginia Electric & Power Co., Series A, 3.150%, 1/15/2026	$	992

				4,778

		Environmental — 0.0%
	1,000	Republic Services, Inc., 1.450%, 2/15/2031		826

		Finance Companies — 0.1%
	1,000	Ares Capital Corp., 3.250%, 7/15/2025		943
	1,000	Oaktree Specialty Lending Corp., 2.700%, 1/15/2027		874

				1,817

		Food & Beverage — 0.2%
	1,000	Coca-Cola Co. (The), 1.450%, 6/01/2027		932
	1,000	General Mills, Inc., 4.000%, 4/17/2025		1,013
	1,000	Mondelez International, Inc., 2.750%, 4/13/2030		912
	1,000	PepsiCo, Inc., 2.750%, 3/19/2030		953

				3,810

		Government Owned – No Guarantee — 0.0%
	1,000	Equinor ASA, 3.625%, 4/06/2040		918

		Health Insurance — 0.1%
	1,000	Elevance Health, Inc., 4.101%, 3/01/2028		1,014
	1,000	UnitedHealth Group, Inc., 5.800%, 3/15/2036		1,175

				2,189

		Healthcare — 0.1%
	1,000	Cigna Corp., 3.750%, 7/15/2023		1,002
	1,000	DH Europe Finance II S.a.r.l., 2.200%, 11/15/2024		968
	1,000	Kaiser Foundation Hospitals, 3.150%, 5/01/2027		991

				2,961

		Integrated Energy — 0.1%
	1,000	Exxon Mobil Corp., 2.992%, 3/19/2025		996
	1,000	Shell International Finance BV, 6.375%, 12/15/2038		1,204

				2,200

		Mortgage Related — 0.8%
	5,801	FHLMC, 2.500%, 2/01/2052		5,414
	4,907	FHLMC, 3.000%, 4/01/2052		4,728
	1,971	FHLMC, 3.500%, 5/01/2052		1,952
	1,964	FNMA, 3.000%, 4/01/2052		1,892
	5,899	FNMA, 3.500%, with various maturities in 2052(b)		5,841

				19,827

		Natural Gas — 0.0%
	1,000	NiSource, Inc., 0.950%, 8/15/2025		915

		Pharmaceuticals — 0.1%
	1,000	AbbVie, Inc., 3.600%, 5/14/2025		1,000

		Property & Casualty Insurance — 0.0%
	1,000	American International Group, Inc., 3.400%, 6/30/2030		943

		Railroads — 0.0%
	1,000	CSX Corp., 2.600%, 11/01/2026		972

		REITs – Apartments — 0.0%
	1,000	Essex Portfolio LP, 3.000%, 1/15/2030		903

		REITs – Health Care — 0.0%
	1,000	Welltower, Inc., 2.800%, 6/01/2031		867

		REITs – Office Property — 0.1%
	1,000	Alexandria Real Estate Equities, Inc., 3.800%, 4/15/2026		995
	1,000	Boston Properties LP, 2.750%, 10/01/2026		949
	1,000	Piedmont Operating Partnership LP, 3.150%, 8/15/2030		848

				2,792

		REITs – Warehouse/Industrials — 0.0%
	1,000	Prologis LP, 1.250%, 10/15/2030		823

		Restaurants — 0.0%
	1,000	Starbucks Corp., 2.250%, 3/12/2030		879

		Retailers — 0.0%
	1,000	TJX Cos., Inc. (The), 1.150%, 5/15/2028		879

		Technology — 0.3%
	1,000	Apple, Inc., 2.500%, 2/09/2025		991
	1,000	Broadcom, Inc., 4.110%, 9/15/2028		979
	1,000	Intel Corp., 2.450%, 11/15/2029		922
	1,000	International Business Machines Corp., 4.000%, 6/20/2042		912
	1,000	NVIDIA Corp., 2.850%, 4/01/2030		954
	1,000	Oracle Corp., 2.950%, 5/15/2025		975
	1,000	QUALCOMM, Inc., 1.650%, 5/20/2032		847

				6,580

		Treasuries — 0.6%
	1,000	U.S. Treasury Bond, 2.250%, 5/15/2041		856
	1,000	U.S. Treasury Bond, 2.500%, 5/15/2046		867
	3,000	U.S. Treasury Bond, 2.875%, 11/15/2046		2,790
	3,000	U.S. Treasury Bond, 3.000%, 5/15/2045		2,842
	2,000	U.S. Treasury Bond, 3.000%, 2/15/2048		1,924
	2,000	U.S. Treasury Bond, 3.000%, 2/15/2049		1,950
	4,000	U.S. Treasury Note, 0.375%, 11/30/2025		3,692
	1,000	U.S. Treasury Note, 2.125%, 12/31/2022		997

				15,918

		Utility Other — 0.0%
	1,000	Essential Utilities, Inc., 4.276%, 5/01/2049		904

		Wireless — 0.1%
	1,000	Vodafone Group PLC, 6.150%, 2/27/2037		1,113

		Total Bonds and Notes (Identified Cost $107,279)		97,744


Shares
	Exchange-Traded Funds — 8.8%
	3,439	iShares^® ESG Aware MSCI EAFE ETF (Identified Cost $265,423)		227,696


	Mutual Funds — 14.5%
	10,239	WCM Focused Emerging Markets Fund, Institutional Class		135,773
	11,517	WCM Focused International Growth Fund, Institutional Class		239,794

		Total Mutual Funds (Identified Cost $480,345)		375,567


	Affiliated Mutual Funds — 10.4%
	4,285	Mirova Global Green Bond Fund, Class N		38,483
	20,640	Mirova International Sustainable Equity Fund, Class N		230,962

		Total Affiliated Mutual Funds (Identified Cost $340,304)		269,445

See accompanying notes to financial statements.

89 |

Portfolio of Investments – as of July 31, 2022 (Unaudited)

Natixis Sustainable Future 2065 Fund – (continued)


Principal Amount		Description	Value (†)
	Short-Term Investments — 3.3%
	$85,032	Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 7/29/2022 at 0.650% to be repurchased at $85,037 on 8/01/2022 collateralized by $86,600 U.S. Treasury Note, 3.000% due 7/15/2025 valued at $87,040 including accrued interest (Note 2 of Notes to Financial Statements) (Identified Cost $85,032)	$	85,032


		Total Investments — 100.8% (Identified Cost $2,995,425)		2,604,573
		Other assets less liabilities — (0.8)%		(21,021	)

		Net Assets — 100.0%	$	2,583,552


	(†)	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.

	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, 2022, the value of Rule 144A holdings amounted to $955 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
	MTN	Medium Term Note
	REITs	Real Estate Investment Trusts

Asset Allocation Summary at July 31, 2022 (Unaudited)


Equity	92.2	%
Fixed Income	5.3
Short-Term Investments	3.3

Total Investments	100.8
Other assets less liabilities	(0.8	)

Net Assets	100.0	%

See accompanying notes to financial statements.

| 90

Statements of Assets and Liabilities

July 31, 2022 (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	$	2,648,894		$	2,621,851		$	5,428,995		$	11,269,799
Affiliated investments at cost		1,972,523			1,406,641			2,302,261			3,706,562
Net unrealized depreciation on unaffiliated investments		(121,659	)		(222,022	)		(502,640	)		(658,460	)
Net unrealized depreciation on affiliated investments		(178,552	)		(103,158	)		(216,937	)		(388,210	)

Investments at value		4,321,206			3,703,312			7,011,679			13,929,691
Cash		1,160			—			—			2,362
Receivable for Fund shares sold		1,306			4,740			11,349			17,481
Receivable from investment adviser (Note 5)		11,554			14,722			13,118			11,045
Receivable for securities sold		—			500			70,402			6,083
Dividends and interest receivable		6,618			5,539			9,728			17,978
Dividends receivable from affiliates		612			443			718			946
Tax reclaims receivable		—			—			12			23
Prepaid expenses (Note 7)		1			1			—			2

TOTAL ASSETS		4,342,457			3,729,257			7,117,006			13,985,611

LIABILITIES
Payable for securities purchased		3,515			1,241			6,743			7,331
Payable for Fund shares redeemed		—			—			—			—
Payable to custodian bank (Note 8)		—			457			51,442			—
Deferred Trustees’ fees (Note 5)		17,911			17,895			17,914			17,943
Administrative fees payable (Note 5)		161			137			262			514
Audit and tax services fees payable		19,731			19,731			19,731			19,731
Other accounts payable and accrued expenses		16,982			19,118			19,789			20,273

TOTAL LIABILITIES		58,300			58,579			115,881			65,792

NET ASSETS	$	4,284,157		$	3,670,678		$	7,001,125		$	13,919,819

NET ASSETS CONSIST OF:
Paid-in capital	$	4,549,229		$	4,048,078		$	7,757,591		$	14,763,210
Accumulated loss		(265,072	)		(377,400	)		(756,466	)		(843,391	)

NET ASSETS	$	4,284,157		$	3,670,678		$	7,001,125		$	13,919,819

COMPUTATION OF NET ASSET VALUE AND OFFERING PRICE:
Class N shares:
Net assets	$	4,284,157		$	3,670,678		$	7,001,125		$	13,919,819

Shares of beneficial interest		478,043			434,023			694,065			1,269,575

Net asset value, offering and redemption price per share	$	8.96		$	8.46		$	10.09		$	10.96

See accompanying notes to financial statements.

91 |

Statements of Assets and Liabilities (continued)

July 31, 2022 (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			Natixis Sustainable Future 2065 Fund

$	12,347,342		$	10,649,345		$	11,206,508		$	10,169,144		$	8,513,898		$	5,595,975		$	2,655,121
	3,366,358			2,309,084			2,150,098			1,407,568			1,120,345			747,473			340,304
	(673,322	)		(795,606	)		(821,153	)		(749,416	)		(616,881	)		(294,315	)		(319,993	)
	(383,559	)		(307,598	)		(307,775	)		(252,569	)		(200,781	)		(127,857	)		(70,859	)

	14,656,819			11,855,225			12,227,678			10,574,727			8,816,581			5,921,276			2,604,573
	—			1,196			3,224			—			1,812			—			—
	29,843			14,143			17,359			14,784			19,364			14,359			—
	11,307			10,930			12,103			12,210			12,205			12,703			5,845
	—			—			—			8,756			—			79,323			558
	14,671			9,686			7,283			7,150			5,086			3,573			1,509
	751			369			233			—			—			—			—
	23			23			23			22			18			12			—
	1			2			2			2			1			1			—

	14,713,415			11,891,574			12,267,905			10,617,651			8,855,067			6,031,247			2,612,485


	7,032			6,351			10,024			11,330			6,071			4,461			2,039
	—			16,941			2,384			6,133			6,659			11,884			—
	324			—			—			—			—			61,705			—
	17,939			17,905			17,882			17,869			17,842			17,818			1,461
	531			432			446			384			318			219			96
	19,731			19,731			19,731			19,731			19,731			19,731			19,731
	19,222			20,169			20,159			19,739			19,664			18,439			5,606

	64,779			81,529			70,626			75,186			70,285			134,257			28,933

$	14,648,636		$	11,810,045		$	12,197,279		$	10,542,465		$	8,784,782		$	5,896,990		$	2,583,552


$	15,555,357		$	12,794,602		$	13,187,060		$	11,440,220		$	9,552,818		$	6,286,932		$	3,002,344
	(906,721	)		(984,557	)		(989,781	)		(897,755	)		(768,036	)		(389,942	)		(418,792	)

$	14,648,636		$	11,810,045		$	12,197,279		$	10,542,465		$	8,784,782		$	5,896,990		$	2,583,552



$	14,648,636		$	11,810,045		$	12,197,279		$	10,542,465		$	8,784,782		$	5,896,990		$	2,583,552

	1,358,558			1,113,223			1,108,398			979,890			832,104			568,951			300,295

$	10.78		$	10.61		$	11.00		$	10.76		$	10.56		$	10.36		$	8.60

See accompanying notes to financial statements.

| 92

Statements of Operations

For the Six Months Ended July 31, 2022 (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	$	11,947		$	13,082		$	28,655		$	60,471
Dividends from affiliated investments		30,687			19,768			23,385			33,811
Interest		10,229			8,810			15,031			24,518
Less net foreign taxes withheld		(88	)		(102	)		(224	)		(423	)

		52,775			41,558			66,847			118,377

Expenses
Management fees (Note 5)		2,748			2,829			6,143			12,051
Administrative fees (Note 5)		980			876			1,722			3,100
Trustees’ fees and expenses (Note 5)		6,663			6,652			6,706			6,807
Trustees’ fees deferred compensation (Note 5)		(2,597	)		(2,596	)		(2,586	)		(2,568	)
Transfer agent fees and expenses		1,244			1,416			1,579			1,712
Audit and tax services fees		18,157			18,157			18,157			18,157
Custodian fees and expenses (Note 6)		16,134			27,339			25,701			25,004
Interest expense (Notes 7 and 11)		—			44			298			87
Legal fees (Note 7)		61			56			121			177
Registration fees		5,518			5,518			5,518			5,518
Regulatory filing fees (Note 6)		6,500			6,500			6,500			6,500
Shareholder reporting expenses		6,347			6,232			7,833			9,434
Miscellaneous expenses		7,306			7,305			7,270			7,430

Total expenses		69,061			80,328			84,962			93,409
Less waiver and/or expense reimbursement (Notes 5 and 6)		(63,238	)		(74,896	)		(73,553	)		(73,412	)

Net expenses		5,823			5,432			11,409			19,997

Net investment income		46,952			36,126			55,438			98,380

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain (loss) on:
Unaffiliated investments		33,152			36,723			102,007			201,114
Affiliated investments		(1,567	)		(63,708	)		(110,808	)		(28,240	)
Distributions of capital gains received from affiliated investments		6,875			6,121			9,988			13,936
Net change in unrealized appreciation (depreciation) on:
Unaffiliated investments		(296,344	)		(311,221	)		(755,137	)		(1,350,159	)
Affiliated investments		(141,423	)		(53,156	)		(88,859	)		(287,671	)

Net realized and unrealized loss on investments		(399,307	)		(385,241	)		(842,809	)		(1,451,020	)

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	(352,355	)	$	(349,115	)	$	(787,371	)	$	(1,352,640	)

See accompanying notes to financial statements.

93 |

Statements of Operations (continued)

For the Six Months Ended July 31, 2022 (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			Natixis Sustainable Future 2065 Fund

$	65,029		$	61,771		$	66,133		$	61,290		$	50,370		$	35,436		$	16,511
	27,139			16,896			11,989			3,366			209			146			67
	15,808			9,517			5,759			5,640			3,739			2,595			1,184
	(429	)		(420	)		(428	)		(411	)		(324	)		(229	)		(109	)

	107,547			87,764			83,453			69,885			53,994			37,948			17,653


	12,258			11,319			11,686			10,816			8,706			6,045			2,847
	2,909			2,508			2,519			2,254			1,811			1,259			583
	6,792			6,769			6,770			6,754			6,722			6,685			6,774
	(2,570	)		(2,569	)		(2,563	)		(2,564	)		(2,566	)		(2,569	)		1,461
	1,736			1,799			1,796			1,953			1,741			1,965			941
	18,157			18,157			18,157			18,157			18,157			18,157			18,157
	18,015			24,531			22,792			22,373			23,176			21,853			14,519
	—			—			—			—			—			—			—
	165			139			139			123			95			69			46
	5,518			5,518			5,518			5,518			5,518			5,518			3,101
	6,500			6,500			6,500			6,500			6,500			6,500			6,500
	8,594			8,838			8,227			8,652			7,343			7,094			4,349
	7,421			7,390			7,392			7,375			7,348			7,315			7,638

	85,495			90,899			88,933			87,911			84,551			79,891			66,916
	(65,805	)		(73,326	)		(72,048	)		(72,295	)		(72,279	)		(71,457	)		(62,690	)

	19,690			17,573			16,885			15,616			12,272			8,434			4,226

	87,857			70,191			66,568			54,269			41,722			29,514			13,427



	128,339			119,201			131,896			122,323			64,775			57,887			(40,951	)
	(4,485	)		(8,912	)		(6,637	)		(12,647	)		(3,640	)		(6,403	)		(58	)
	8,946			5,923			3,126			2,222			1,746			1,224			562

	(1,171,535	)		(1,158,825	)		(1,185,572	)		(1,141,999	)		(875,933	)		(625,224	)		(232,514	)
	(246,502	)		(201,093	)		(184,973	)		(148,291	)		(123,131	)		(83,710	)		(40,455	)

	(1,285,237	)		(1,243,706	)		(1,242,160	)		(1,178,392	)		(936,183	)		(656,226	)		(313,416	)

$	(1,197,380	)	$	(1,173,515	)	$	(1,175,592	)	$	(1,124,123	)	$	(894,461	)	$	(626,712	)	$	(299,989	)

See accompanying notes to financial statements.

| 94

Statements of Changes in Net Assets


	Natixis Sustainable Future 2015 Fund						Natixis Sustainable Future 2020 Fund
	Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022
FROM OPERATIONS:
Net investment income	$	46,952		$	69,095		$	36,126		$	49,487
Net realized gain (loss) on investments, including distributions of capital gains received from investments		38,460			425,407			(20,864	)		301,767
Net change in unrealized appreciation (depreciation) on investments		(437,767	)		(284,690	)		(364,377	)		(197,785	)

Net increase (decrease) in net assets resulting from operations		(352,355	)		209,812			(349,115	)		153,469

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(69,524	)		(481,636	)		(110,986	)		(262,760	)

NET INCREASE (DECREASE) IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 12)		(47,597	)		821,449			(219,767	)		1,547,475

Net increase (decrease) in net assets		(469,476	)		549,625			(679,868	)		1,438,184
NET ASSETS
Beginning of the period		4,753,633			4,204,008			4,350,546			2,912,362

End of the period	$	4,284,157		$	4,753,633		$	3,670,678		$	4,350,546

See accompanying notes to financial statements.

95 |

Statements of Changes in Net Assets (continued)


Natixis Sustainable Future 2025 Fund						Natixis Sustainable Future 2030 Fund						Natixis Sustainable Future 2035 Fund						Natixis Sustainable Future 2040 Fund
Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022

$	55,438		$	104,337		$	98,380		$	134,180		$	87,857		$	116,653		$	70,191		$	85,624
	1,187			792,295			186,810			656,842			132,800			896,043			116,212			675,056
	(843,996	)		(463,892	)		(1,637,830	)		(232,682	)		(1,418,037	)		(393,349	)		(1,359,918	)		(375,854	)

	(787,371	)		432,740			(1,352,640	)		558,340			(1,197,380	)		619,347			(1,173,515	)		384,826


	(135,600	)		(875,110	)		(290,351	)		(686,989	)		(351,527	)		(910,135	)		(253,618	)		(674,630	)

	(2,790,420	)		3,965,097			258,947			7,767,673			3,008,188			6,158,110			1,616,961			6,479,279

	(3,713,391	)		3,522,727			(1,384,044	)		7,639,024			1,459,281			5,867,322			189,828			6,189,475

	10,714,516			7,191,789			15,303,863			7,664,839			13,189,355			7,322,033			11,620,217			5,430,742

$	7,001,125		$	10,714,516		$	13,919,819		$	15,303,863		$	14,648,636		$	13,189,355		$	11,810,045		$	11,620,217

See accompanying notes to financial statements.

| 96

Statements of Changes in Net Assets (continued)


	Natixis Sustainable Future 2045 Fund						Natixis Sustainable Future 2050 Fund
	Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022
FROM OPERATIONS:
Net investment income	$	66,568		$	87,085		$	54,269		$	72,230
Net realized gain (loss) on investments, including distributions of capital gains received from investments		128,385			889,510			111,898			674,624
Net change in unrealized appreciation (depreciation) on investments		(1,370,545	)		(424,694	)		(1,290,290	)		(286,775	)

Net increase (decrease) in net assets resulting from operations		(1,175,592	)		551,901			(1,124,123	)		460,079

FROM DISTRIBUTIONS TO SHAREHOLDERS:
Class N		(267,921	)		(795,436	)		(246,720	)		(583,052	)

NET INCREASE IN NET ASSETS FROM CAPITAL SHARE TRANSACTIONS (NOTE 12)		2,044,949			5,556,506			1,593,452			5,425,651

Net increase (decrease) in net assets		601,436			5,312,971			222,609			5,302,678
NET ASSETS
Beginning of the period		11,595,843			6,282,872			10,319,856			5,017,178

End of the period	$	12,197,279		$	11,595,843		$	10,542,465		$	10,319,856

(a)	From commencement of operations on December 15, 2021 through January 31, 2022.

See accompanying notes to financial statements.

97 |

Statements of Changes in Net Assets (continued)


Natixis Sustainable Future 2055 Fund						Natixis Sustainable Future 2060 Fund						Natixis Sustainable Future 2065 Fund
Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Year Ended January 31, 2022			Six Months Ended July 31, 2022 (Unaudited)			Period Ended January 31, 2022(a)

$	41,722		$	53,529		$	29,514		$	41,188		$	13,427		$	4,044
	62,881			510,332			52,708			493,325			(40,447	)		3,894
	(999,064	)		(254,318	)		(708,934	)		(133,559	)		(272,969	)		(117,883	)

	(894,461	)		309,543			(626,712	)		400,954			(299,989	)		(109,945	)


	(181,934	)		(439,605	)		(133,727	)		(478,513	)		(1,350	)		(7,620	)

	1,720,710			4,434,259			1,110,366			1,967,271			2,456			3,000,000

	644,315			4,304,197			349,927			1,889,712			(298,883	)		2,882,435

	8,140,467			3,836,270			5,547,063			3,657,351			2,882,435			—

$	8,784,782		$	8,140,467		$	5,896,990		$	5,547,063		$	2,583,552		$	2,882,435

See accompanying notes to financial statements.

| 98

Financial Highlights

For a share outstanding throughout each period.


	Sustainable Future 2015 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	9.83			$	10.37			$	10.70			$	10.11			$	11.13			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.10				0.16				0.12				0.17				0.23				0.15
Net realized and unrealized gain (loss)			(0.82	)			0.40				1.25				1.02				(0.41	)			1.19

Total from Investment Operations			(0.72	)			0.56				1.37				1.19				(0.18	)			1.34

LESS DISTRIBUTIONS FROM:
Net investment income			(0.02	)			(0.19	)			(0.25	)			(0.18	)			(0.23	)			(0.16	)
Net realized capital gains			(0.13	)			(0.91	)			(1.45	)			(0.42	)			(0.61	)			(0.05	)

Total Distributions			(0.15	)			(1.10	)			(1.70	)			(0.60	)			(0.84	)			(0.21	)

Net asset value, end of the period		$	8.96			$	9.83			$	10.37			$	10.70			$	10.11			$	11.13

Total return(b)			(7.36	)%(c)			5.15	%			12.97	%			11.81	%			(1.28	)%			13.42	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	4,284			$	4,754			$	4,204			$	6,191			$	4,600			$	4,536
Net expenses(d)			0.27	%(e)(f)(g)			0.28	%(h)			0.31	%(i)			0.31	%(j)(k)			0.35	%(l)			0.38	%(e)(m)
Gross expenses			3.17	%(e)(f)			3.08	%(h)			3.08	%(i)			3.70	%(j)			4.04	%(l)			3.57	%(e)(m)
Net investment income			2.16	%(e)			1.47	%			1.09	%			1.62	%			2.10	%			1.49	%(e)
Portfolio turnover rate			17	%			50	%			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)	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 0.53% and 3.43%, respectively.

(g)	Effective June 1, 2022, the expense limit decreased from 0.55% to 0.50%.

(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 3.35%, 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 0.55% and 3.32%, respectively.

(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 0.58% and 3.97%, respectively.

(k)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%.

(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 4.34%, respectively.

(m)	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.

99 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2020 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	9.41			$	9.37			$	10.66			$	9.97			$	11.34			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.08				0.13				0.11				0.17				0.22				0.14
Net realized and unrealized gain (loss)			(0.80	)			0.49				1.38				1.06				(0.46	)			1.39

Total from Investment Operations			(0.72	)			0.62				1.49				1.23				(0.24	)			1.53

LESS DISTRIBUTIONS FROM:
Net investment income			(0.02	)			(0.14	)			(0.29	)			(0.18	)			(0.23	)			(0.15	)
Net realized capital gains			(0.21	)			(0.44	)			(2.49	)			(0.36	)			(0.90	)			(0.04	)

Total Distributions			(0.23	)			(0.58	)			(2.78	)			(0.54	)			(1.13	)			(0.19	)

Net asset value, end of the period		$	8.46			$	9.41			$	9.37			$	10.66			$	9.97			$	11.34

Total return(b)			(7.80	)%(c)			6.35	%			14.26	%			12.31	%			(1.66	)%			15.38	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	3,671			$	4,351			$	2,912			$	6,006			$	4,540			$	4,617
Net expenses(d)			0.28	%(e)(f)(g)(h)			0.29	%(i)			0.32	%(j)			0.32	%(k)(l)			0.38	%(m)			0.41	%(e)(n)
Gross expenses			4.10	%(e)(f)(g)			3.66	%(i)			3.88	%(j)			3.69	%(k)			4.10	%(m)			3.58	%(e)(n)
Net investment income			1.84	%(e)			1.30	%			1.08	%			1.60	%			1.98	%			1.40	%(e)
Portfolio turnover rate			66	%			46	%			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)	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 0.54% and 4.36%, respectively.

(g)	Includes interest expense. Without this expense the ratio of net expenses would have been 0.27% and the ratio of gross expenses would have been 4.10%.

(h)	Effective June 1, 2022, the expense limit decreased from 0.55% to 0.50%.

(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 0.55% and 3.92%, respectively.

(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 0.55% and 4.11%, 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 0.58% and 3.95%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.55%.

(m)	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.

(n)	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.

| 100

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2025 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	11.21			$	11.42			$	10.89			$	10.22			$	11.54			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.07				0.14				0.12				0.17				0.21				0.13
Net realized and unrealized gain (loss)			(1.02	)			0.68				1.41				1.12				(0.54	)			1.59

Total from Investment Operations			(0.95	)			0.82				1.53				1.29				(0.33	)			1.72

LESS DISTRIBUTIONS FROM:
Net investment income			(0.01	)			(0.16	)			(0.16	)			(0.17	)			(0.20	)			(0.14	)
Net realized capital gains			(0.16	)			(0.87	)			(0.84	)			(0.45	)			(0.79	)			(0.04	)

Total Distributions			(0.17	)			(1.03	)			(1.00	)			(0.62	)			(0.99	)			(0.18	)

Net asset value, end of the period		$	10.09			$	11.21			$	11.42			$	10.89			$	10.22			$	11.54

Total return(b)			(8.56	)%(c)			6.84	%			14.35	%			12.73	%			(2.46	)%			17.31	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	7,001			$	10,715			$	7,192			$	6,015			$	3,757			$	3,518
Net expenses(d)			0.30	%(e)(f)(g)(h)			0.30	%(i)			0.33	%(j)			0.34	%(k)(l)			0.42	%(m)			0.45	%(e)(n)
Gross expenses			2.20	%(e)(f)(g)			1.76	%(i)			3.00	%(j)			4.18	%(k)			4.88	%(m)			4.41	%(e)(n)
Net investment income			1.44	%(e)			1.15	%			1.08	%			1.59	%			1.88	%			1.30	%(e)
Portfolio turnover rate			43	%			49	%			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 0.55% and 2.45%, respectively.

(g)	Includes interest expense. Without this expense the ratio of net expenses would have been 0.29% and the ratio of gross expenses would have been 2.19%.

(h)	Effective June 1, 2022, the expense limit decreased from 0.56% to 0.51%

(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 0.56% and 2.02%, respectively.

(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 0.56% and 3.23%, 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 0.59% and 4.43%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.56%.

(m)	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.

(n)	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.

101 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2030 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.27			$	11.97			$	11.15			$	10.39			$	11.79			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.08				0.15				0.12				0.17				0.19				0.12
Net realized and unrealized gain (loss)			(1.16	)			0.86				1.60				1.19				(0.60	)			1.86

Total from Investment Operations			(1.08	)			1.01				1.72				1.36				(0.41	)			1.98

LESS DISTRIBUTIONS FROM:
Net investment income			(0.01	)			(0.15	)			(0.18	)			(0.14	)			(0.18	)			(0.14	)
Net realized capital gains			(0.22	)			(0.56	)			(0.72	)			(0.46	)			(0.81	)			(0.05	)

Total Distributions			(0.23	)			(0.71	)			(0.90	)			(0.60	)			(0.99	)			(0.19	)

Net asset value, end of the period		$	10.96			$	12.27			$	11.97			$	11.15			$	10.39			$	11.79

Total return(b)			(8.86	)%(c)			8.30	%			15.88	%			13.12	%			(2.91	)%			19.79	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	13,920			$	15,304			$	7,665			$	6,250			$	3,194			$	3,033
Net expenses(d)			0.29	%(e)(f)(g)			0.31	%(h)			0.34	%(i)			0.37	%(j)(k)			0.48	%(l)			0.50	%(e)(m)
Gross expenses			1.35	%(e)(f)			1.43	%(h)			2.88	%(i)			4.37	%(j)			5.34	%(l)			5.04	%(e)(m)
Net investment income			1.42	%(e)			1.14	%			1.06	%			1.55	%			1.68	%			1.22	%(e)
Portfolio turnover rate			32	%			24	%			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 0.55% and 1.61%, respectively.

(g)	Effective June 1, 2022, the expense limit decreased from 0.57% to 0.52%

(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 0.57% and 1.69%, 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 0.57% and 3.11%, respectively.

(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 0.60% and 4.60%, respectively.

(k)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.57%.

(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 5.51%, respectively.

(m)	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.

| 102

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2035 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.21			$	12.02			$	11.24			$	10.46			$	12.01			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.07				0.14				0.11				0.16				0.17				0.11
Net realized and unrealized gain (loss)			(1.19	)			1.07				1.70				1.33				(0.67	)			2.08

Total from Investment Operations			(1.12	)			1.21				1.81				1.49				(0.50	)			2.19

LESS DISTRIBUTIONS FROM:
Net investment income			(0.01	)			(0.14	)			(0.17	)			(0.17	)			(0.17	)			(0.13	)
Net realized capital gains			(0.30	)			(0.88	)			(0.86	)			(0.54	)			(0.88	)			(0.05	)

Total Distributions			(0.31	)			(1.02	)			(1.03	)			(0.71	)			(1.05	)			(0.18	)

Net asset value, end of the period		$	10.78			$	12.21			$	12.02			$	11.24			$	10.46			$	12.01

Total return(b)			(9.33	)%(c)			9.85	%			16.62	%			14.29	%			(3.68	)%			21.95	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	14,649			$	13,189			$	7,322			$	5,566			$	4,099			$	3,112
Net expenses(d)			0.30	%(e)(f)(g)			0.33	%(h)			0.36	%(i)			0.39	%(j)(k)			0.52	%(l)			0.55	%(e)(m)
Gross expenses			1.32	%(e)(f)			1.62	%(h)			3.05	%(i)			3.95	%(j)			5.12	%(l)			5.03	%(e)(m)
Net investment income			1.35	%(e)			1.08	%			0.97	%			1.47	%			1.52	%			1.13	%(e)
Portfolio turnover rate			17	%			34	%			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 0.56% and 1.58%, respectively.

(g)	Effective June 1, 2022, the expense limit decreased from 0.58% to 0.53%

(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 0.58% and 1.87%, 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 3.27%, respectively.

(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 0.60% and 4.16%, respectively.

(k)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.58%.

(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 5.25%, respectively.

(m)	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.

103 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2040 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.03			$	11.69			$	11.18			$	10.43			$	12.20			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.07				0.13				0.10				0.16				0.16				0.11
Net realized and unrealized gain (loss)			(1.24	)			1.12				1.85				1.29				(0.75	)			2.26

Total from Investment Operations			(1.17	)			1.25				1.95				1.45				(0.59	)			2.37

LESS DISTRIBUTIONS FROM:
Net investment income			(0.01	)			(0.12	)			(0.19	)			(0.15	)			(0.16	)			(0.12	)
Net realized capital gains			(0.24	)			(0.79	)			(1.25	)			(0.55	)			(1.02	)			(0.05	)

Total Distributions			(0.25	)			(0.91	)			(1.44	)			(0.70	)			(1.18	)			(0.17	)

Net asset value, end of the period		$	10.61			$	12.03			$	11.69			$	11.18			$	10.43			$	12.20

Total return(b)			(9.86	)%(c)			10.49	%			18.04	%			13.94	%			(4.19	)%			23.80	%(c)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	11,810			$	11,620			$	5,431			$	5,662			$	3,330			$	3,096
Net expenses(d)			0.31	%(e)(f)(g)			0.33	%(h)			0.36	%(i)			0.39	%(j)(k)			0.56	%(l)			0.59	%(e)(m)
Gross expenses			1.62	%(e)(f)			1.99	%(h)			3.38	%(i)			4.45	%(j)			5.40	%(l)			5.04	%(e)(m)
Net investment income			1.25	%(e)			1.01	%			0.94	%			1.50	%			1.42	%			1.04	%(e)
Portfolio turnover rate			21	%			34	%			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 0.57% and 1.88%, respectively.

(g)	Effective June 1, 2022, the expense limit decreased from 0.59% to 0.54%

(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 2.25%, 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 0.59% and 3.61%, respectively.

(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 0.61% and 4.67%, respectively.

(k)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%.

(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 5.49%, respectively.

(m)	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.

| 104

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2045 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.53			$	12.12			$	11.17			$	10.38			$	12.31			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.07				0.13				0.10				0.16				0.15				0.10
Net realized and unrealized gain (loss)			(1.33	)			1.29				1.89				1.37				(0.81	)			2.39

Total from Investment Operations			(1.26	)			1.42				1.99				1.53				(0.66	)			2.49

LESS DISTRIBUTIONS FROM:
Net investment income			(0.00	)(b)			(0.13	)			(0.18	)			(0.15	)			(0.16	)			(0.12	)
Net realized capital gains			(0.27	)			(0.88	)			(0.86	)			(0.59	)			(1.11	)			(0.06	)

Total Distributions			(0.27	)			(1.01	)			(1.04	)			(0.74	)			(1.27	)			(0.18	)

Net asset value, end of the period		$	11.00			$	12.53			$	12.12			$	11.17			$	10.38			$	12.31

Total return(c)			(10.14	)%(d)			11.36	%			18.30	%			14.73	%			(4.53	)%			24.92	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	12,197			$	11,596			$	6,283			$	4,951			$	2,517			$	2,568
Net expenses(e)			0.30	%(f)(g)(h)			0.33	%(i)			0.37	%(j)			0.40	%(k)(l)			0.58	%(m)			0.61	%(f)(n)
Gross expenses			1.58	%(f)(g)			1.93	%(i)			3.63	%(j)			5.12	%(k)			6.46	%(m)			5.97	%(f)(n)
Net investment income			1.18	%(f)			0.97	%			0.93	%			1.45	%			1.32	%			0.97	%(f)
Portfolio turnover rate			21	%			42	%			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)	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 0.57% and 1.85%, respectively.

(h)	Effective June 1, 2022, the expense limit decreased from 0.59% to 0.54%

(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 0.59% and 2.19%, respectively.

(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 0.59% and 3.85%, 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 0.61% and 5.33%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.59%.

(m)	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.

(n)	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.

105 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2050 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.31			$	11.75			$	11.15			$	10.41			$	12.38			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.06				0.12				0.10				0.16				0.15				0.10
Net realized and unrealized gain (loss)			(1.34	)			1.25				1.92				1.35				(0.84	)			2.45

Total from Investment Operations			(1.28	)			1.37				2.02				1.51				(0.69	)			2.55

LESS DISTRIBUTIONS FROM:
Net investment income			(0.00	)(b)			(0.12	)			(0.18	)			(0.15	)			(0.16	)			(0.11	)
Net realized capital gains			(0.27	)			(0.69	)			(1.24	)			(0.62	)			(1.12	)			(0.06	)

Total Distributions			(0.27	)			(0.81	)			(1.42	)			(0.77	)			(1.28	)			(0.17	)

Net asset value, end of the period		$	10.76			$	12.31			$	11.75			$	11.15			$	10.41			$	12.38

Total return(c)			(10.53	)%(d)			11.40	%			18.94	%			14.57	%			(4.82	)%			25.64	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	10,542			$	10,320			$	5,017			$	4,557			$	2,492			$	2,514
Net expenses(e)			0.31	%(f)(g)(h)			0.34	%(i)			0.38	%(j)			0.41	%(k)(l)			0.59	%(m)			0.62	%(f)(n)
Gross expenses			1.75	%(f)(g)			2.12	%(i)			4.00	%(j)			5.24	%(k)			6.42	%(m)			6.00	%(f)(n)
Net investment income			1.08	%(f)			0.91	%			0.90	%			1.43	%			1.29	%			0.94	%(f)
Portfolio turnover rate			22	%			38	%			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)	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 0.58% and 2.02%, respectively.

(h)	Effective June 1, 2022, the expense limit decreased from 0.60% to 0.55%.

(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 0.60% and 2.38%, respectively.

(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 0.60% and 4.22%, 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 0.62% and 5.45%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(m)	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.

(n)	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.

| 106

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2055 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	12.08			$	11.53			$	11.11			$	10.43			$	12.38			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.06				0.12				0.10				0.16				0.15				0.10
Net realized and unrealized gain (loss)			(1.34	)			1.22				1.86				1.40				(0.83	)			2.45

Total from Investment Operations			(1.28	)			1.34				1.96				1.56				(0.68	)			2.55

LESS DISTRIBUTIONS FROM:
Net investment income			(0.00	)(b)			(0.12	)			(0.20	)			(0.16	)			(0.16	)			(0.11	)
Net realized capital gains			(0.24	)			(0.67	)			(1.34	)			(0.72	)			(1.11	)			(0.06	)

Total Distributions			(0.24	)			(0.79	)			(1.54	)			(0.88	)			(1.27	)			(0.17	)

Net asset value, end of the period		$	10.56			$	12.08			$	11.53			$	11.11			$	10.43			$	12.38

Total return(c)			(10.68	)%(d)			11.33	%			18.07	%			14.93	%			(4.80	)%			25.64	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	8,785			$	8,140			$	3,836			$	4,178			$	2,614			$	2,534
Net expenses(e)			0.30	%(f)(g)(h)			0.33	%(i)			0.39	%(j)			0.42	%(k)(l)			0.59	%(m)			0.62	%(f)(n)
Gross expenses			2.09	%(f)(g)			2.68	%(i)			4.49	%(j)			5.63	%(k)			6.44	%(m)			5.98	%(f)(n)
Net investment income			1.03	%(f)			0.90	%			0.88	%			1.42	%			1.27	%			0.94	%(f)
Portfolio turnover rate			19	%			38	%			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)	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 0.58% and 2.37%, respectively.

(h)	Effective June 1, 2022, the expense limit decreased from 0.60% to 0.55%.

(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 0.60% and 2.95%, respectively.

(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 0.60% and 4.70%, 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 0.62% and 5.83%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(m)	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.

(n)	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.

107 |

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2060 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)				Year Ended January 31, 2022				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		$	11.85			$	11.64			$	11.03			$	10.40			$	12.38			$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)			0.06				0.11				0.10				0.16				0.15				0.10
Net realized and unrealized gain (loss)			(1.29	)			1.31				1.95				1.38				(0.82	)			2.45

Total from Investment Operations			(1.23	)			1.42				2.05				1.54				(0.67	)			2.55

LESS DISTRIBUTIONS FROM:
Net investment income			(0.00	)(b)			(0.14	)			(0.19	)			(0.17	)			(0.16	)			(0.11	)
Net realized capital gains			(0.26	)			(1.07	)			(1.25	)			(0.74	)			(1.15	)			(0.06	)

Total Distributions			(0.26	)			(1.21	)			(1.44	)			(0.91	)			(1.31	)			(0.17	)

Net asset value, end of the period		$	10.36			$	11.85			$	11.64			$	11.03			$	10.40			$	12.38

Total return(c)			(10.53	)%(d)			11.72	%			19.09	%			14.78	%			(4.56	)%			25.59	%(d)
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)		$	5,897			$	5,547			$	3,657			$	3,198			$	2,488			$	2,575
Net expenses(e)			0.30	%(f)(g)(h)			0.34	%(i)			0.38	%(j)			0.42	%(k)(l)			0.59	%(m)			0.62	%(f)(n)
Gross expenses			2.84	%(f)(g)			3.27	%(i)			5.25	%(j)			6.03	%(k)			6.45	%(m)			5.97	%(f)(n)
Net investment income			1.05	%(f)			0.87	%			0.95	%			1.45	%			1.29	%			0.94	%(f)
Portfolio turnover rate			23	%			43	%			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)	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 0.58% and 3.12%, respectively.

(h)	Effective June 1, 2022, the expense limit decreased from 0.60% to 0.55%.

(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 0.60% and 3.53%, respectively.

(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 0.60% and 5.47%, 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 0.62% and 6.23%, respectively.

(l)	Effective June 1, 2019, the expense limit decreased from 0.65% to 0.60%.

(m)	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.

(n)	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.

| 108

Financial Highlights (continued)

For a share outstanding throughout each period.


	Sustainable Future 2065 Fund—Class N
	Six Months Ended July 31, 2022 (Unaudited)			Period Ended January 31, 2022*
Net asset value, beginning of the period	$	9.61		$	10.00

INCOME (LOSS) FROM INVESTMENT OPERATIONS:
Net investment income(a)		0.04			0.01
Net realized and unrealized gain (loss)		(1.05	)		(0.38	)

Total from Investment Operations		(1.01	)		(0.37	)

LESS DISTRIBUTIONS FROM:
Net investment income		(0.00	)(b)		(0.01	)
Net realized capital gains		—			(0.01	)

Total Distributions		(0.00	)		(0.02	)

Net asset value, end of the period	$	8.60		$	9.61

Total return(c)(d)		(10.47	)%		(3.66	)%
RATIOS TO AVERAGE NET ASSETS:
Net assets, end of the period (000’s)	$	2,584		$	2,882
Net expenses(e)(f)		0.32	%(g)(h)		0.34	%(i)
Gross expenses(f)		5.13	%(g)		8.08	%(i)
Net investment income(f)		1.03	%		1.06	%
Portfolio turnover rate		22	%		5	%

*	From commencement of operations on December 15, 2021 through January 31, 2022.

(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 0.58% and 5.39%, respectively.

(h)	Effective June 1, 2022, the expense limit decreased from 0.60% to 0.55%.

(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 0.60% and 8.34%, respectively.

See accompanying notes to financial statements.

109 |

Notes to Financial Statements

July 31, 2022 (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”)

Natixis Sustainable Future 2065 Fund^® (the “Sustainable Future 2065 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:

| 110

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

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. The Funds may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer’s security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the 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, 2022 and has concluded that no provisions for income tax are required. The Funds’ federal tax returns for the prior three fiscal years, where applicable, 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

111 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

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 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, non-deductible expenses, passive foreign investment company adjustments, 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, passive foreign investment company adjustments 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, 2022 was as follows:


	2022 Distributions
Fund	Ordinary Income		Long-Term Capital Gains		Total
Sustainable Future 2015 Fund	$	224,416	$	257,220	$	481,636
Sustainable Future 2020 Fund		134,799		127,961		262,760
Sustainable Future 2025 Fund		327,782		547,328		875,110
Sustainable Future 2030 Fund		346,564		340,425		686,989
Sustainable Future 2035 Fund		408,218		501,917		910,135
Sustainable Future 2040 Fund		316,520		358,110		674,630
Sustainable Future 2045 Fund		360,772		434,664		795,436
Sustainable Future 2050 Fund		312,916		270,136		583,052
Sustainable Future 2055 Fund		227,799		211,806		439,605
Sustainable Future 2060 Fund		224,471		254,042		478,513
Sustainable Future 2065 Fund		3,343		4,277		7,620

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, 2022, 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	$	4,631,319		$	4,032,676		$	7,740,227		$	14,994,290		$	15,727,490

Gross tax appreciation	$	114,653		$	42,694		$	112,615		$	419,005		$	476,821
Gross tax depreciation		(424,766	)		(372,058	)		(841,163	)		(1,483,604	)		(1,547,492	)

Net tax depreciation	$	(310,113	)	$	(329,364	)	$	(728,548	)	$	(1,064,599	)	$	(1,070,671	)

| 112

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)


	Sustainable Future 2040 Fund			Sustainable Future 2045 Fund			Sustainable Future 2050 Fund			Sustainable Future 2055 Fund			Sustainable Future 2060 Fund			Sustainable Future 2065 Fund
Federal tax cost	$	12,964,126		$	13,360,356		$	11,580,418		$	9,636,843		$	6,345,401		$	2,995,873

Gross tax appreciation	$	344,914		$	377,172		$	362,523		$	291,367		$	258,619		$	57,445
Gross tax depreciation		(1,453,815	)		(1,509,850	)		(1,368,214	)		(1,111,629	)		(682,744	)		(448,745	)

Net tax depreciation	$	(1,108,901	)	$	(1,132,678	)	$	(1,005,691	)	$	(820,262	)	$	(424,125	)	$	(391,300	)

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, 2022, 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 January 2021, the Financial Accounting Standards Board issued Accounting Standard Update 2021-01, Reference Rate Reform (Topic 848) (“ASU 2021-01”). ASU 2021-01 is an update of ASU 2020-04, which was issued in response to concerns about structural risks of interbank offered rates, and particularly the risk of cessation of the London Interbank Offered Rate (“LIBOR”), 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 2021-01 clarifies that certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The 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. 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.

113 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

The following is a summary of the inputs used to value the Funds’ investments as of July 31, 2022, at value:

Sustainable Future 2015 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,156,777	$	—	$	—	$	1,156,777
Bonds and Notes(a)		—		885,400		—		885,400
Exchange-Traded Funds		147,648		—		—		147,648
Mutual Funds		209,883		—		—		209,883
Affiliated Mutual Funds		1,793,971		—		—		1,793,971
Short-Term Investments		—		127,527		—		127,527

Total	$	3,308,279	$	1,012,927	$	—	$	4,321,206

(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)	$	1,211,911	$	—	$	—	$	1,211,911
Bonds and Notes(a)		—		692,168		—		692,168
Exchange-Traded Funds		158,904		—		—		158,904
Mutual Funds		218,258		—		—		218,258
Affiliated Mutual Funds		1,303,483		—		—		1,303,483
Short-Term Investments		—		118,588		—		118,588

Total	$	2,892,556	$	810,756	$	—	$	3,703,312

(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)	$	2,553,338	$	—	$	—	$	2,553,338
Bonds and Notes(a)		—		1,292,631		—		1,292,631
Exchange-Traded Funds		358,395		—		—		358,395
Mutual Funds		543,679		—		—		543,679
Affiliated Mutual Funds		2,085,324		—		—		2,085,324
Short-Term Investments		—		178,312		—		178,312

Total	$	5,540,736	$	1,470,943	$	—	$	7,011,679

(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)	$	5,896,002	$	—	$	—	$	5,896,002
Bonds and Notes(a)		—		2,167,310		—		2,167,310
Exchange-Traded Funds		802,068		—		—		802,068
Mutual Funds		1,299,268		—		—		1,299,268
Affiliated Mutual Funds		3,318,352		—		—		3,318,352
Short-Term Investments		—		446,691		—		446,691

Total	$	11,315,690	$	2,614,001	$	—	$	13,929,691

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

| 114

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

Sustainable Future 2035 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	7,126,786	$	—	$	—	$	7,126,786
Bonds and Notes(a)		—		1,649,373		—		1,649,373
Exchange-Traded Funds		965,143		—		—		965,143
Mutual Funds		1,487,085		—		—		1,487,085
Affiliated Mutual Funds		2,982,799		—		—		2,982,799
Short-Term Investments		—		445,633		—		445,633

Total	$	12,561,813	$	2,095,006	$	—	$	14,656,819

(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)	$	6,384,365	$	—	$	—	$	6,384,365
Bonds and Notes(a)		—		889,829		—		889,829
Exchange-Traded Funds		837,292		—		—		837,292
Mutual Funds		1,320,422		—		—		1,320,422
Affiliated Mutual Funds		2,001,486		—		—		2,001,486
Short-Term Investments		—		421,831		—		421,831

Total	$	10,543,565	$	1,311,660	$	—	$	11,855,225

(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)	$	6,903,260	$	—	$	—	$	6,903,260
Bonds and Notes(a)		—		504,921		—		504,921
Exchange-Traded Funds		971,566		—		—		971,566
Mutual Funds		1,581,607		—		—		1,581,607
Affiliated Mutual Funds		1,842,323		—		—		1,842,323
Short-Term Investments		—		424,001		—		424,001

Total	$	11,298,756	$	928,922	$	—	$	12,227,678

(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)	$	6,198,230	$	—	$	—	$	6,198,230
Bonds and Notes(a)		—		538,219		—		538,219
Exchange-Traded Funds		901,515		—		—		901,515
Mutual Funds		1,428,483		—		—		1,428,483
Affiliated Mutual Funds		1,154,999		—		—		1,154,999
Short-Term Investments		—		353,281		—		353,281

Total	$	9,683,227	$	891,500	$	—	$	10,574,727

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

115 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

Sustainable Future 2055 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	5,206,382	$	—	$	—	$	5,206,382
Bonds and Notes(a)		—		332,195		—		332,195
Exchange-Traded Funds		788,230		—		—		788,230
Mutual Funds		1,267,519		—		—		1,267,519
Affiliated Mutual Funds		919,564		—		—		919,564
Short-Term Investments		—		302,691		—		302,691

Total	$	8,181,695	$	634,886	$	—	$	8,816,581

(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)	$	3,518,838	$	—	$	—	$	3,518,838
Bonds and Notes(a)		—		229,290		—		229,290
Exchange-Traded Funds		535,242		—		—		535,242
Mutual Funds		855,659		—		—		855,659
Affiliated Mutual Funds		619,616		—		—		619,616
Short-Term Investments		—		162,631		—		162,631

Total	$	5,529,355	$	391,921	$	—	$	5,921,276

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

Sustainable Future 2065 Fund

Asset Valuation Inputs


Description	Level 1		Level 2		Level 3		Total
Common Stocks(a)	$	1,549,089	$	—	$	—	$	1,549,089
Bonds and Notes(a)		—		97,744		—		97,744
Exchange-Traded Funds		227,696		—		—		227,696
Mutual Funds		375,567		—		—		375,567
Affiliated Mutual Funds		269,445		—		—		269,445
Short-Term Investments		—		85,032		—		85,032

Total	$	2,421,797	$	182,776	$	—	$	2,604,573

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

| 116

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

4. Purchases and Sales of Securities. For the six months ended July 31, 2022, 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	$	58,221	$	82,221	$	671,764	$	707,475
Sustainable Future 2020 Fund		175,499		193,973		2,401,832		2,662,056
Sustainable Future 2025 Fund		176,663		334,278		3,126,349		5,717,941
Sustainable Future 2030 Fund		344,678		345,808		4,240,207		4,070,207
Sustainable Future 2035 Fund		202,026		57,501		4,597,095		4,597,095
Sustainable Future 2040 Fund		109,605		60,159		3,611,131		2,257,033
Sustainable Future 2045 Fund		60,236		61,481		4,057,727		2,248,638
Sustainable Future 2050 Fund		67,951		40,270		3,422,267		2,125,551
Sustainable Future 2055 Fund		35,276		31,310		3,030,776		1,459,787
Sustainable Future 2060 Fund		37,021		30,510		2,261,348		1,239,293
Sustainable Future 2065 Fund		15,768		23,534		578,092		537,669

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.

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.

Natixis Advisors will voluntarily waive its fee for the management of a segment for any period during which the segment is invested entirely in unaffiliated exchange-traded funds. During the six months ended July 31, 2022, 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

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indemnification expenses. These undertakings are in effect until May 31, 2023, 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 period June 1, 2022 to July 31, 2022, 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		0.50	%
Sustainable Future 2020 Fund		0.50	%
Sustainable Future 2025 Fund		0.51	%
Sustainable Future 2030 Fund		0.52	%
Sustainable Future 2035 Fund		0.53	%
Sustainable Future 2040 Fund		0.54	%
Sustainable Future 2045 Fund		0.54	%
Sustainable Future 2050 Fund		0.55	%
Sustainable Future 2055 Fund		0.55	%
Sustainable Future 2060 Fund		0.55	%
Sustainable Future 2065 Fund		0.55	%

Prior to June 1, 2022, 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	%
Sustainable Future 2065 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.

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For the six months ended July 31, 2022, 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	$	2,748	$	361	$	159	$	2,228		—		0.13	%		—
Sustainable Future 2020 Fund		2,829		396		170		2,263		—		0.14	%		—
Sustainable Future 2025 Fund		6,143		894		401		4,848		—		0.16	%		—
Sustainable Future 2030 Fund		12,051		1,832		827		9,392		—		0.17	%		—
Sustainable Future 2035 Fund		12,258		1,971		871		9,416		—		0.19	%		—
Sustainable Future 2040 Fund		11,319		1,887		821		8,611		—		0.20	%		—
Sustainable Future 2045 Fund		11,686		1,983		920		8,783		—		0.21	%		—
Sustainable Future 2050 Fund		10,816		1,827		887		8,102		—		0.21	%		—
Sustainable Future 2055 Fund		8,706		1,475		736		6,495		—		0.22	%		—
Sustainable Future 2060 Fund		6,045		1,025		510		4,510		—		0.22	%		—
Sustainable Future 2065 Fund		2,847		489		240		2,118		—		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, 2024.

²	Voluntary waiver of Natixis Advisors’ management fee with respect to the AIA International Developed Markets ESG Segment 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, 2024.

For the six months ended July 31, 2022, 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	$	2,228	$	60,490	$	62,718
Sustainable Future 2020 Fund		2,263		72,067		74,330
Sustainable Future 2025 Fund		4,848		67,410		72,258
Sustainable Future 2030 Fund		9,392		61,361		70,753
Sustainable Future 2035 Fund		9,416		53,547		62,963
Sustainable Future 2040 Fund		8,611		62,007		70,618
Sustainable Future 2045 Fund		8,783		60,362		69,145
Sustainable Future 2050 Fund		8,102		61,479		69,581
Sustainable Future 2055 Fund		6,495		63,573		70,068
Sustainable Future 2060 Fund		4,510		65,412		69,922
Sustainable Future 2065 Fund		2,118		38,824		40,942

⁴	Contractual expense reimbursements are subject to possible recovery until January 31, 2024.

No expenses were recovered during the six months ended July 31, 2022, 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.

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For the six months ended July 31, 2022, the administrative fees for each Fund were as follows:


Fund	Administrative Fees
Sustainable Future 2015 Fund	$	980
Sustainable Future 2020 Fund		876
Sustainable Future 2025 Fund		1,722
Sustainable Future 2030 Fund		3,100
Sustainable Future 2035 Fund		2,909
Sustainable Future 2040 Fund		2,508
Sustainable Future 2045 Fund		2,519
Sustainable Future 2050 Fund		2,254
Sustainable Future 2055 Fund		1,811
Sustainable Future 2060 Fund		1,259
Sustainable Future 2065 Fund		583

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 $210,000. 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.

For the six months ended July 31, 2022, net depreciation in the value of participants’ deferral accounts are reflected on the Statements of Operations as a reduction to expenses, as follows:


Fund	Amount
Sustainable Future 2015 Fund	$	(2,597	)
Sustainable Future 2020 Fund		(2,596	)
Sustainable Future 2025 Fund		(2,586	)
Sustainable Future 2030 Fund		(2,568	)
Sustainable Future 2035 Fund		(2,570	)
Sustainable Future 2040 Fund		(2,569	)
Sustainable Future 2045 Fund		(2,563	)
Sustainable Future 2050 Fund		(2,564	)
Sustainable Future 2055 Fund		(2,566	)
Sustainable Future 2060 Fund		(2,569	)

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

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e. Affiliated Ownership. As of July 31, 2022, the percentage of net assets owned by Natixis Investment Managers, LLC is as follows:


Fund	Percentage of Net Assets
Sustainable Future 2065 Fund		99.86	%

Investment activities of affiliated shareholders could have material impacts on the Funds.

f. Affiliated Fund Transactions. A summary of affiliated fund transactions for each underlying fund held by the Funds for the six months ended July 31, 2022, 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		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	674,333	$	109,176	$	50,353	$	2,259		$	(51,575	)	$	683,840		63,495	$	26,978
Loomis Sayles Limited Term Government and Agency Fund, Class N		585,044		4,439		70,100		(2,652	)		(12,866	)		503,865		45,931		2,888
Mirova Global Green Bond Fund, Class N		515,172		19,649		20,339		(2,601	)		(49,202	)		462,679		51,523		7,696
Mirova International Sustainable Equity Fund, Class N		174,118		14,068		18,246		1,427			(27,780	)		143,587		12,832		—

	$	1,948,667	$	147,332	$	159,038	$	(1,567	)	$	(141,423	)	$	1,793,971		173,781	$	37,562

⁽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		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	413,445	$	261,918	$	222,295	$	(9,259	)	$	(24,066	)	$	419,743		38,973	$	16,863
Loomis Sayles Limited Term Government and Agency Fund, Class N		443,666		210,745		277,832		(12,059	)		(668	)		363,852		33,168		2,174
Mirova Global Green Bond Fund, Class N		420,978		211,664		225,095		(33,571	)		(11,903	)		362,073		40,320		6,852
Mirova International Sustainable Equity Fund, Class N		190,170		113,490		120,507		(8,819	)		(16,519	)		157,815		14,103		—

	$	1,468,259	$	797,817	$	845,729	$	(63,708	)	$	(53,156	)	$	1,303,483		126,564	$	25,889

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

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Sustainable Future 2025 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	661,947	$	320,630	$	468,906	$	(8,059	)	$	(28,563	)	$	477,049		44,294	$	18,696
Loomis Sayles Limited Term Government and Agency Fund, Class N		897,367		350,490		637,491		(16,417	)		(3,726	)		590,223		53,803		3,496
Mirova Global Green Bond Fund, Class N		893,422		463,649		625,366		(54,202	)		(21,275	)		656,228		73,077		11,181
Mirova International Sustainable Equity Fund, Class N		552,500		284,167		407,418		(32,130	)		(35,295	)		361,824		32,335		—

	$	3,005,236	$	1,418,936	$	2,139,181	$	(110,808	)	$	(88,859	)	$	2,085,324		203,509	$	33,373

⁽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 2030 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	774,757	$	189,312	$	236,958	$	11,508		$	(67,358	)	$	671,261		62,327	$	27,897
Loomis Sayles Limited Term Government and Agency Fund, Class N		812,570		263,173		275,794		(7,796	)		(13,703	)		778,450		70,962		4,250
Mirova Global Green Bond Fund, Class N		1,028,726		404,239		276,430		(29,001	)		(76,739	)		1,050,795		117,015		15,600
Mirova International Sustainable Equity Fund, Class N		937,483		283,170		269,985		(2,951	)		(129,871	)		817,846		73,087		—

	$	3,553,536	$	1,139,894	$	1,059,167	$	(28,240	)	$	(287,671	)	$	3,318,352		323,391	$	47,747

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

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Sustainable Future 2035 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	575,231	$	102,459	$	6,674	$	233		$	(41,944	)	$	629,305		58,431	$	23,040
Loomis Sayles Limited Term Government and Agency Fund, Class N		534,108		106,307		8,867		(351	)		(13,612	)		617,585		56,298		3,030
Mirova Global Green Bond Fund, Class N		674,957		163,564		6,399		(844	)		(66,430	)		764,848		85,172		10,015
Mirova International Sustainable Equity Fund, Class N		871,914		258,670		31,484		(3,523	)		(124,516	)		971,061		86,779		—

	$	2,656,210	$	631,000	$	53,424	$	(4,485	)	$	(246,502	)	$	2,982,799		286,680	$	36,085

⁽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		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	336,367	$	119,494	$	32,187	$	1,049		$	(26,962	)	$	397,761		36,932	$	14,656
Loomis Sayles Limited Term Government and Agency Fund, Class N		275,060		71,153		35,594		(1,259	)		(5,979	)		303,381		27,656		1,532
Mirova Global Green Bond Fund, Class N		443,994		97,320		35,587		(5,373	)		(40,618	)		459,736		51,196		6,631
Mirova International Sustainable Equity Fund, Class N		850,681		179,966		59,176		(3,329	)		(127,534	)		840,608		75,121		—

	$	1,906,102	$	467,933	$	162,544	$	(8,912	)	$	(201,093	)	$	2,001,486		190,905	$	22,819

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

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Sustainable Future 2045 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	243,258	$	74,863	$	18,191	$	(450	)	$	(18,324	)	$	281,156		26,105	$	10,587
Loomis Sayles Limited Term Government and Agency Fund, Class N		189,816		30,573		23,412		(861	)		(4,287	)		191,829		17,487		1,029
Mirova Global Green Bond Fund, Class N		221,776		209,554		13,779		(1,582	)		(22,377	)		393,592		43,830		3,499
Mirova International Sustainable Equity Fund, Class N		952,881		194,429		27,835		(3,744	)		(139,985	)		975,746		87,198		—

	$	1,607,731	$	509,419	$	83,217	$	(6,637	)	$	(184,973	)	$	1,842,323		174,620	$	15,115

⁽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		Shares as of July 31, 2022		Distribution Received⁽²⁾
Loomis Sayles Inflation Protected Securities Fund, Class N	$	46,078	$	53,993	$	2,806	$	(241	)	$	(3,859	)	$	93,165		8,650	$	3,100
Mirova Global Green Bond Fund, Class N		160,152		27,366		15,385		(2,473	)		(14,281	)		155,379		17,303		2,488
Mirova International Sustainable Equity Fund, Class N		914,773		201,676		69,910		(9,933	)		(130,151	)		906,455		81,006		—

	$	1,121,003	$	283,035	$	88,101	$	(12,647	)	$	(148,291	)	$	1,154,999		106,959	$	5,588

⁽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		Shares as of July 31, 2022		Distribution Received⁽²⁾
Mirova Global Green Bond Fund, Class N	$	123,064	$	28,152	$	8,249	$	(1,230	)	$	(11,861	)	$	129,876		14,463	$	1,955
Mirova International Sustainable Equity Fund, Class N		721,934		202,364		20,930		(2,410	)		(111,270	)		789,688		70,571		—

	$	844,998	$	230,516	$	29,179	$	(3,640	)	$	(123,131	)	$	919,564		85,034	$	1,955

⁽¹⁾	Purchase cost includes dividend reinvested, if any.

⁽²⁾	Distributions received includes distributions from net investment income and from capital gains, if any.

| 124

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

Sustainable Future 2060 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Mirova Global Green Bond Fund, Class N	$	83,384	$	32,209	$	17,772	$	(3,295	)	$	(6,009	)	$	88,517		9,857	$	1,370
Mirova International Sustainable Equity Fund, Class N		509,418		141,534		39,044		(3,108	)		(77,701	)		531,099		47,462		—

	$	592,802	$	173,743	$	56,816	$	(6,403	)	$	(83,710	)	$	619,616		57,319	$	1,370

⁽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 2065 Fund


Fund	Beginning Value		Purchase Cost⁽¹⁾		Sales Proceeds		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Ending Value		Shares as of July 31, 2022		Distribution Received⁽²⁾
Mirova Global Green Bond Fund, Class N	$	44,342	$	1,224	$	2,786	$	(138	)	$	(4,159	)	$	38,483		4,285	$	629
Mirova International Sustainable Equity Fund, Class N		252,642		18,131		3,595		80			(36,296	)		230,962		20,640		—

	$	296,984	$	19,355	$	6,381	$	(58	)	$	(40,455	)	$	269,445		24,925	$	629

⁽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.

g. 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. Custodian and Regulatory Filing Fees and Expenses. State Street Bank, custodian and sub-administrator to the Funds, agreed to waive its fees and expenses for the first 12 months of operations for Sustainable Future 2065 Fund. For the six months ended July 31, 2022, total fees waived for the Fund were $21,019.

7. 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 certain 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 on the Statements of Operations. The unamortized balance is reflected as prepaid expenses on the Statements of Assets and Liabilities.

For the six months ended July 31, 2022, Sustainable Future 2025 Fund had an average daily balance on the line of credit (for those days on which there were borrowings) of $2,000,000 at a weighted average interest rate of 1.18%. Interest expense incurred on the line of credit was $66.

For the six months ended July 31, 2022, Sustainable Future 2030 Fund had an average daily balance on the line of credit (for those days on which there were borrowings) of $1,000,000 at a weighted average interest rate of 1.18%. Interest expense incurred on the line of credit was $33.

125 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

8. 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, 2022, the Funds had payables to the custodian bank for overdrafts, as follows:


Fund	Payable to Custodian Bank
Sustainable Future 2020 Fund	$	457
Sustainable Future 2025 Fund		51,442
Sustainable Future 2035 Fund		324
Sustainable Future 2060 Fund		61,705

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, 2022, 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% Account Holders		Percentage of Ownership
Sustainable Future 2015 Fund		5		91.88	%
Sustainable Future 2020 Fund		5		77.80	%
Sustainable Future 2025 Fund		3		41.02	%
Sustainable Future 2030 Fund		3		35.12	%
Sustainable Future 2035 Fund		6		49.81	%
Sustainable Future 2040 Fund		4		25.92	%
Sustainable Future 2045 Fund		4		35.87	%
Sustainable Future 2050 Fund		3		19.79	%
Sustainable Future 2055 Fund		3		19.55	%
Sustainable Future 2060 Fund		3		26.52	%

10. 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.

11. Interest Expense. The Funds incur interest expense on cash overdrafts at the custodian or from use of the line of credit. Interest expense incurred for the six months ended July 31, 2022 is reflected on the Statements of Operations.

| 126

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

12. 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, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		10,702		$	98,636			263,539		$	2,795,068
Issued in connection with the reinvestment of distributions		7,460			69,524			47,104			481,636
Redeemed		(23,944	)		(215,757	)		(232,154	)		(2,455,255	)

Increase (decrease) from capital share transactions		(5,782	)	$	(47,597	)		78,489		$	821,449

Sustainable Future 2020 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		264,202		$	2,304,319			304,183		$	3,026,342
Issued in connection with the reinvestment of distributions		12,583			110,986			26,858			262,760
Redeemed		(305,275	)		(2,635,072	)		(179,357	)		(1,741,627	)

Increase (decrease) from capital share transactions		(28,490	)	$	(219,767	)		151,684		$	1,547,475

Sustainable Future 2025 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		170,709		$	1,707,724			496,529		$	6,079,972
Issued in connection with the reinvestment of distributions		12,756			135,600			74,700			875,110
Redeemed		(445,270	)		(4,633,744	)		(244,868	)		(2,989,985	)

Increase (decrease) from capital share transactions		(261,805	)	$	(2,790,420	)		326,361		$	3,965,097

Sustainable Future 2030 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		203,506		$	2,258,735			628,329		$	8,033,476
Issued in connection with the reinvestment of distributions		25,051			290,351			53,854			686,989
Redeemed		(206,296	)		(2,290,139	)		(75,042	)		(952,792	)

Increase from capital share transactions		22,261		$	258,947			607,141		$	7,767,673

Sustainable Future 2035 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		345,879		$	3,688,979			510,490		$	6,691,502
Issued in connection with the reinvestment of distributions		30,648			351,526			71,289			910,135
Redeemed		(98,020	)		(1,032,317	)		(110,889	)		(1,443,527	)

Increase from capital share transactions		278,507		$	3,008,188			470,890		$	6,158,110

127 |

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

12.�� Capital Shares (continued).

Sustainable Future 2040 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		210,754		$	2,287,957			539,408		$	6,953,362
Issued in connection with the reinvestment of distributions		22,326			253,618			53,553			674,630
Redeemed		(86,019	)		(924,614	)		(91,187	)		(1,148,713	)

Increase from capital share transactions		147,061		$	1,616,961			501,774		$	6,479,279

Sustainable Future 2045 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		226,249		$	2,545,941			509,519		$	6,920,152
Issued in connection with the reinvestment of distributions		22,705			267,921			60,070			795,436
Redeemed		(65,782	)		(768,913	)		(162,587	)		(2,159,082	)

Increase from capital share transactions		183,172		$	2,044,949			407,002		$	5,556,506

Sustainable Future 2050 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		216,334		$	2,378,810			507,103		$	6,642,820
Issued in connection with the reinvestment of distributions		21,287			246,720			44,850			583,052
Redeemed		(96,296	)		(1,032,078	)		(140,214	)		(1,800,221	)

Increase from capital share transactions		141,325		$	1,593,452			411,739		$	5,425,651

Sustainable Future 2055 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		193,978		$	2,084,583			415,793		$	5,376,870
Issued in connection with the reinvestment of distributions		15,986			181,922			34,409			439,605
Redeemed		(51,560	)		(545,795	)		(109,350	)		(1,382,216	)

Increase from capital share transactions		158,404		$	1,720,710			340,852		$	4,434,259

Sustainable Future 2060 Fund


	Six Months Ended July 31, 2022						Year Ended January 31, 2022
	Shares			Amount			Shares			Amount
Class N
Issued from the sale of shares		179,443		$	1,912,793			307,412		$	3,988,105
Issued in connection with the reinvestment of distributions		11,993			133,727			38,070			478,513
Redeemed		(90,512	)		(936,154	)		(191,717	)		(2,499,347	)

Increase from capital share transactions		100,924		$	1,110,366			153,765		$	1,967,271

| 128

Notes to Financial Statements (continued)

July 31, 2022 (Unaudited)

12. Capital Shares (continued).

Sustainable Future 2065 Fund


	Six Months Ended July 31, 2022						Period Ended January 31, 2022(a)
	Shares			Amount			Shares		Amount
Class N
Issued from the sale of shares		397		$	3,300			300,000	$	3,000,000
Redeemed		(102	)		(844	)		—		—

Increase from capital share transactions		295		$	2,456			300,000	$	3,000,000

(a)	From commencement of operations on December 15, 2021 through January 31, 2022.

13. Subsequent Events. On September 8, 2022, the Board of Trustees of the Trust approved the replacement of the Mirova U.S. Climate Ambition Equity Segment with the AIA U.S. Large Cap Core ESG Segment as part of the Funds’ Principal Investment Strategies, effective October 17, 2022.

129 |

(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 23, 2022

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 23, 2022

By:		/s/ Matthew J. Block

Name:		Matthew J. Block
Title:		Treasurer and Principal Financial and Accounting Officer
Date:		September 23, 2022

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