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TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited)


Issues	Maturity Date		Principal Amount		Value
FIXED INCOME SECURITIES—93.3% of Net Assets
ASSET-BACKED SECURITIES—9.9%
321 Henderson Receivables LLC (17-1A-A) 3.99%⁽¹⁾		08/16/60	$	219,815	$	255,730
Aimco CLO, Ltd. 1.53%^(1),(2)		10/15/31		1,000,000		1,000,500
AMUR Finance I LLC (13-1) 10.00%^(3),(4)		01/25/22		776,156		77,616
AMUR Finance I LLC (13-2) 10.00%^(3),(4)		03/20/24		89,228		32,961
Bayview Commercial Asset Trust (03-2-A) 1.02% (1 mo. USD LIBOR + 0.870%)^(1),(5)		12/25/33		323,636		306,834
Bayview Commercial Asset Trust (04-1-A) 0.69% (1 mo. USD LIBOR + 0.540%)^(1),(5)		04/25/34		275,225		274,543
Bayview Commercial Asset Trust (04-2-A) 0.79% (1 mo. USD LIBOR + 0.645%)^(1),(5)		08/25/34		269,339		262,486
Bayview Commercial Asset Trust (04-3-A1) 0.70% (1 mo. USD LIBOR + 0.555%)^(1),(5)		01/25/35		146,176		143,688
Brazos Higher Education Authority, Inc. (10-1-A2) 1.45% (3 mo. USD LIBOR + 1.200%)⁽⁵⁾		02/25/35		2,200,000		2,209,272
Cedar Funding CLO, Ltd. (20-12A-A) 0.00% (3 mo. USD LIBOR + 1.270%)^(1),(5),(4)		10/25/32		1,375,000		1,376,719
CIT Education Loan Trust (07-1-A) 0.32% (3 mo. USD LIBOR + 0.090%)^(1),(5)		03/25/42		614,865		585,626
CoreVest American Finance Trust (19-1-XA) (I/O) 2.35%^(1),(2)		03/15/52		1,886,436		139,485
CoreVest American Finance Trust (20-1-A2) 2.30%⁽¹⁾		03/15/50		470,000		475,082
CoreVest American Finance Trust (20-3-XA) (I/O) 3.61%^(1),(2)		08/15/53		2,050,000		325,788
CoreVest American Finance Trust (20-3-XB) (I/O) 2.56%^(1),(2)		08/15/53		1,650,000		276,944
Dryden CLO, Ltd. (20-85A-A1) 0.00% (3 mo. USD LIBOR + 1.350%)^(1),(5),(4)		10/15/32		1,375,000		1,375,687
Education Loan Asset-Backed Trust I (13-1-A2) 0.95% (1 mo. USD LIBOR + 0.800%)^(1),(5)		04/26/32		1,260,000		1,251,056
EFS Volunteer No 2 LLC (12-1-A2) 1.50% (1 mo. USD LIBOR + 1.350%)^(1),(5)		03/25/36		1,272,631		1,286,391
GCO Education Loan Funding Master Trust II (06-2AR-A1RN) 0.83% (1 mo. USD LIBOR + 0.650%)^(1),(5)		08/27/46		2,024,394		1,932,950
Global SC Finance SRL (14-1A-A2) 3.09%⁽¹⁾		07/17/29		166,750		169,398
Goal Capital Funding Trust (06-1-B) 0.70% (3 mo. USD LIBOR + 0.450%)⁽⁵⁾		08/25/42		214,049		186,867
Higher Education Funding I (14-1-A) 1.30% (3 mo. USD LIBOR + 1.050%)^(1),(5)		05/25/34		417,084		416,515
Magnetite VII, Ltd. (12-7A-A1R2) 1.08% (3 mo. USD LIBOR + 0.800%)^(1),(5)		01/15/28		410,000		405,933
Nelnet Student Loan Trust (14-4A-A2) 1.13% (1 mo. USD LIBOR + 0.950%)^(1),(5)		11/25/48		575,000		564,234
North Carolina State Education Assistance Authority (11-1-A3) 1.14% (3 mo. USD LIBOR + 0.900%)⁽⁵⁾		10/25/41		1,551,395		1,510,581
OHA Credit Funding, Ltd. (20-7A-A) 0.00% (3 mo. USD LIBOR + 1.250%)^(1),(4),(5)		10/19/32		1,400,000		1,401,750
Palmer Square CLO, Ltd. (18-1A-A1) 1.30% (3 mo. USD LIBOR + 1.030%)^(1),(5)		04/18/31		600,000		590,760
Palmer Square Loan Funding Ltd. (20-2A-A2) 1.82% (3 mo. USD LIBOR + 1.550%)^(1),(5)		04/20/28		350,000		347,469
Scholar Funding Trust (12-B-A2) 1.24% (1 mo. USD LIBOR + 1.100%)^(1),(5)		03/28/46		676,240		659,975
SLC Student Loan Trust (04-1-B) 0.57% (3 mo. USD LIBOR + 0.290%)⁽⁵⁾		08/15/31		288,269		257,216
SLC Student Loan Trust (06-1-B) 0.46% (3 mo. USD LIBOR + 0.210%)⁽⁵⁾		03/15/55		385,015		339,016
SLM Student Loan Trust (04-2-B) 0.71% (3 mo. USD LIBOR + 0.470%)⁽⁵⁾		07/25/39		328,284		298,889
SLM Student Loan Trust (05-9-B) 0.54% (3 mo. USD LIBOR + 0.300%)⁽⁵⁾		01/25/41		394,501		355,414
SLM Student Loan Trust (07-6-B) 1.09% (3 mo. USD LIBOR + 0.850%)⁽⁵⁾		04/27/43		126,205		114,467
SLM Student Loan Trust (07-7-B) 0.99% (3 mo. USD LIBOR + 0.750%)⁽⁵⁾		10/27/70		150,000		143,148
SLM Student Loan Trust (08-2-B) 1.44% (3 mo. USD LIBOR + 1.200%)⁽⁵⁾		01/25/83		225,000		205,324
SLM Student Loan Trust (08-3-B) 1.44% (3 mo. USD LIBOR + 1.200%)⁽⁵⁾		04/26/83		225,000		200,720
SLM Student Loan Trust (08-4-B) 2.09% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		04/25/73		515,000		468,963
SLM Student Loan Trust (08-5-B) 2.09% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/25/73		260,000		238,041
SLM Student Loan Trust (08-6-B) 2.09% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/26/83		225,000		203,281
SLM Student Loan Trust (08-7-B) 2.09% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/26/83		305,000		274,366
SLM Student Loan Trust (08-8-B) 2.49% (3 mo. USD LIBOR + 2.250%)⁽⁵⁾		10/25/75		260,000		250,464
SLM Student Loan Trust (08-9-B) 2.49% (3 mo. USD LIBOR + 2.250%)⁽⁵⁾		10/25/83		260,000		249,792
Store Master Funding I-VII (19-1-A2) 3.65%⁽¹⁾		11/20/49		506,167		520,181
Structured Receivables Finance LLC (10-A-B) 7.61%⁽¹⁾		01/16/46		564,739		647,292

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Structured Receivables Finance LLC (10-B-B) 7.97%⁽¹⁾		08/15/36	$	341,056	$	399,872
Student Loan Consolidation Center (02-2-B2) 0.00% (28 day Auction Rate)^(1),(4),(5)		07/01/42		1,250,000		1,103,955
Vermont Student Assistance Corp. (12-1-A) 0.85% (1 mo. USD LIBOR + 0.700%)⁽⁵⁾		07/28/34		195,937		192,229
Voya CLO, Ltd. (14-3A-A1R) 0.96% (3 mo. USD LIBOR + 0.720%)^(1),(5)		07/25/26		516,927		515,085


Total Asset-backed Securities (Cost: $27,199,279)						26,820,555

MORTGAGE-BACKED SECURITIES—49.8%
Commercial Mortgage-backed Securities—Agency—5.6%
Fannie Mae , Pool #AN6243 3.46%		09/01/37		780,000		931,961
Fannie Mae, Pool #AN9040 3.50%		04/01/30		305,000		360,514
Fannie Mae, Pool #464400 5.97%		01/01/40		425,715		520,492
Fannie Mae, Pool #464398 5.97%		01/01/40		561,944		687,050
Fannie Mae, Pool #AN3542 3.41%		11/01/46		1,139,659		1,307,517
Fannie Mae (11-M5-A2) (ACES)(I/O) 1.17%⁽²⁾		07/25/21		3,050,602		18,548
Fannie Mae (16-M11-X2) (I/O) 2.82%⁽²⁾		07/25/39		2,560,619		103,336
Fannie Mae (19-M29-X4) (I/O) 0.70%⁽²⁾		03/25/29		7,900,000		357,987
Fannie Mae (20-M10-X1) (I/O) 1.92%⁽²⁾		12/25/30		1,374,237		189,184
Freddie Mac Multifamily Structured Pass Through Certificates (K023-X3) (I/O) 1.75%⁽²⁾		10/25/40		12,555,000		377,434
Freddie Mac Multifamily Structured Pass Through Certificates (K032-X3) (I/O) 1.71%⁽²⁾		10/25/41		4,020,000		164,967
Freddie Mac Multifamily Structured Pass Through Certificates (K039-X3) (I/O) 2.18%⁽²⁾		08/25/42		3,110,000		236,000
Freddie Mac Multifamily Structured Pass Through Certificates (K057-X1) (I/O) 1.32%⁽²⁾		07/25/26		5,313,694		310,699
Freddie Mac Multifamily Structured Pass Through Certificates (K722-X1) (I/O) 1.44%⁽²⁾		03/25/23		16,700,389		406,472
Freddie Mac Multifamily Structured Pass Through Certificates (K735-X3) (I/O) 2.23%⁽²⁾		05/25/47		3,750,000		398,441
Freddie Mac Multifamily Structured Pass Through Certificates (Q013-XPT2) (I/O) 1.81%		05/25/27		4,200,000		191,461
Freddie Mac Multifamily Structured Pass-Through Certificates (19-P002-X) (I/O) 1.01%⁽²⁾		07/25/33		1,295,000		143,880
Freddie Mac Multifamily Structured Pass-Through Certificates (K-1511-A3) 3.54%		03/25/34		1,280,000		1,561,944
Freddie Mac Multifamily Structured Pass-Through Certificates (K015-X3) (I/O) 2.90%⁽²⁾		08/25/39		4,000,000		89,207
Freddie Mac Multifamily Structured Pass-Through Certificates (K021-X3) (I/O) 2.03%⁽²⁾		07/25/40		3,475,000		113,342
Freddie Mac Multifamily Structured Pass-Through Certificates (K022-X3) (I/O) 1.87%⁽²⁾		08/25/40		2,500,000		78,286
Freddie Mac Multifamily Structured Pass-Through Certificates (K025-X3) (I/O) 1.81%⁽²⁾		11/25/40		5,400,000		183,141
Freddie Mac Multifamily Structured Pass-Through Certificates (K027-X3) (I/O) 1.76%⁽²⁾		01/25/41		4,095,000		145,283
Freddie Mac Multifamily Structured Pass-Through Certificates (K031-X1) (I/O) 0.32%⁽²⁾		04/25/23		57,085,171		289,664
Freddie Mac Multifamily Structured Pass-Through Certificates (K031-X3) (I/O) 1.72%⁽²⁾		07/25/41		4,500,000		178,639
Freddie Mac Multifamily Structured Pass-Through Certificates (K034-X1) (I/O) 0.22%⁽²⁾		07/25/23		27,212,115		74,626
Freddie Mac Multifamily Structured Pass-Through Certificates (K040-X3) (I/O) 2.10%⁽²⁾		11/25/42		4,875,000		356,839
Freddie Mac Multifamily Structured Pass-Through Certificates (K049-X3) (I/O) 1.60%⁽²⁾		10/25/43		2,330,000		153,202
Freddie Mac Multifamily Structured Pass-Through Certificates (K060-X3) (I/O) 1.96%⁽²⁾		12/25/44		2,500,000		246,653
Freddie Mac Multifamily Structured Pass-Through Certificates (K070-X3) (I/O) 2.11%⁽²⁾		12/25/44		2,550,000		306,820
Freddie Mac Multifamily Structured Pass-Through Certificates (K726-X1) (I/O) 1.02%⁽²⁾		04/25/24		13,800,190		337,469
Freddie Mac Multifamily Structured Pass-Through Certificates (K728-X3) (I/O) 2.02%⁽²⁾		11/25/45		3,455,000		242,117
Freddie Mac Multifamily Structured Pass-Through Certificates (K732-X3) (I/O) 2.25%⁽²⁾		05/25/46		2,400,000		221,267
Freddie Mac Multifamily Structured Pass-Through Certificates (KC05-X1) (I/O) 1.20%⁽²⁾		06/25/27		7,988,099		471,557
Freddie Mac Multifamily Structured Pass-Through Certificates (KIR1-X) (I/O) 1.20%⁽²⁾		03/25/26		8,644,344		426,260
Freddie Mac Multifamily Structured Pass-Through Certificates (KLU2-X1) (I/O) 1.16%⁽²⁾		08/25/29		4,985,632		360,628
Freddie Mac Multifamily Structured Pass-Through Certificates (KS11-XFX) (I/O) 1.76%⁽²⁾		06/25/29		2,290,000		247,345
Freddie Mac Multifamily Structured Pass-Through Certificates (KW01-X3) (I/O) 4.20%⁽²⁾		03/25/29		690,000		120,241
Freddie Mac Multifamily Structured Pass-Through Certificates (KW02-X3) (I/O) 2.94%⁽²⁾		01/25/27		865,000		128,467
Freddie Mac Multifamily Structured Pass-Through Certificates (KW03-X3) (I/O) 3.15%⁽²⁾		08/25/30		865,000		144,627
Freddie Mac Multifamily Structured Pass-Through Certificates (Q006-APT1) 2.67%⁽²⁾		07/25/26		1,120,100		1,147,157
Freddie Mac Multifamily Structured Pass-Through Certificates (Q010-XPT2) (I/O) 0.36%		08/25/24		6,888,428		59,199

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Ginnie Mae (12-139-IO) (I/O) 0.77%⁽²⁾		02/16/53	$	7,013,068	$	221,896
Ginnie Mae (13-52-IO) (I/O) 0.66%⁽²⁾		02/16/55		11,751,731		186,820
Ginnie Mae (09-114-IO) (I/O) 0.04%⁽²⁾		10/16/49		5,312,378		801
Ginnie Mae (10-148-IO) (I/O) 0.52%⁽²⁾		09/16/50		7,219,862		65,477
Ginnie Mae (11-10-IO) (I/O) 0.00%^(4),(2)		12/16/45		3,168,283		1,650
Ginnie Mae (11-105-IO) (I/O) 0.00%^(4),(2)		09/16/51		8,208,666		12,485
Ginnie Mae (11-152-IO) (I/O) 0.19%⁽²⁾		08/16/51		3,211,632		13,197
Ginnie Mae (11-42-IO) (I/O) 0.00%^(4),(2)		08/16/50		5,651,198		8,380
Ginnie Mae (12-4-IO) (I/O) 0.04%⁽²⁾		05/16/52		7,697,633		22,369
Ginnie Mae (14-103-IO) (I/O) 0.36%⁽²⁾		05/16/55		4,591,156		77,563
Ginnie Mae (14-125-IO) (I/O) 0.92%⁽²⁾		11/16/54		3,362,987		160,550


Total Commercial Mortgage-backed Securities—Agency (Cost: $17,711,070)						15,161,111

Commercial Mortgage-backed Securities—Non-Agency—9.6%
Arbor Multifamily Mortgage Securities Trust (20-MF1-A5) 2.76%⁽¹⁾		05/15/53		705,000		775,105
BAMLL Commercial Mortgage Securities Trust (18-PARK-A) 4.23%^(1),(2)		08/10/38		590,000		695,894
BBCMS Mortgage Trust (17-C1-XA) (I/O) 1.66%⁽²⁾		02/15/50		4,009,938		285,500
BBCMS Mortgage Trust (18-C2-A5) 4.31%		12/15/51		430,000		516,335
BBCMS Mortgage Trust (20-C6-F5TB) 3.69%^(1),(2)		02/15/53		250,000		246,975
BBCMS Trust (15-SRCH-D) 5.12%^(1),(2)		08/10/35		150,000		164,487
Benchmark Mortgage Trust (18-B2-A5) 3.88%⁽²⁾		02/15/51		350,000		409,118
Benchmark Mortgage Trust (19-B10-3CCB) 4.03%^(1),(2)		03/15/62		435,000		395,790
Benchmark Mortgage Trust (20-B17-A5) 2.29%		03/15/53		1,040,000		1,110,376
BX Trust (19-OC11-A) 3.20%⁽¹⁾		12/09/41		265,000		282,468
CALI Mortgage Trust (19-101C-A) 3.96%⁽¹⁾		03/10/39		680,000		801,539
CALI Mortgage Trust (19-101C-E) 4.47%^(1),(2)		03/10/39		315,000		324,550
Citigroup Commercial Mortgage Trust (12-GC8-XA) (I/O) 1.92%^(1),(2),(6)		09/10/45		3,095,615		80,862
Citigroup Commercial Mortgage Trust (14-GC21-XD) (I/O) 1.52%^(1),(2)		05/10/47		5,456,382		208,814
Citigroup Commercial Mortgage Trust (15-GC35-XA) (I/O) 0.98%⁽²⁾		11/10/48		7,139,811		205,112
Citigroup Commercial Mortgage Trust (19-PRM-X) (I/O) 1.33%^(1),(2)		05/10/36		14,000,000		509,202
COMM Mortgage Trust (12-LC4-XB) (I/O) 0.58%^(1),(2)		12/10/44		18,671,016		138,789
COMM Mortgage Trust (13-CR11-XA) (I/O) 1.09%⁽²⁾		08/10/50		9,818,284		232,703
COMM Mortgage Trust (13-CR12-XA) (I/O) 1.29%⁽²⁾		10/10/46		9,375,484		273,082
COMM Mortgage Trust (13-LC13-XA) (I/O) 1.29%⁽²⁾		08/10/46		8,186,591		219,564
COMM Mortgage Trust (14-CR18-XA) (I/O) 1.15%⁽²⁾		07/15/47		6,757,427		208,804
COMM Mortgage Trust (14-CR21-XA) (I/O) 1.01%⁽²⁾		12/10/47		17,623,954		531,343
COMM Mortgage Trust (20-CBM-XCP) (I/O) 0.59%^(1),(2)		02/10/37		6,870,000		135,678
CPT Mortgage Trust (19-CPT-A) 2.87%⁽¹⁾		11/13/39		1,165,000		1,276,902
CSAIL Commercial Mortgage Trust (19-C17-A4) 2.76%		09/15/52		700,000		762,939
DC Office Trust (19-MTC-A) 2.97%⁽¹⁾		09/15/45		550,000		609,508
GS Mortgage Securities Corp. Trust (20-UPTN-XA) (I/O) 0.35%^(1),(2)		02/10/37		3,150,000		44,821
GS Mortgage Securities Trust (11-GC3-X) (I/O) 0.66%^(1),(2)		03/10/44		10,905,930		19,525
GS Mortgage Securities Trust (12-GC6-XB) (I/O) 0.26%^(1),(2),(6)		01/10/45		17,397,372		45,959
GS Mortgage Securities Trust (12-GCJ7-XB) (I/O) 0.60%^(1),(2)		05/10/45		34,082,467		206,329
GS Mortgage Securities Trust (14-GC18-XB) (I/O) 0.27%⁽²⁾		01/10/47		66,563,000		345,539
GS Mortgage Securities Trust (16-GS2-XA) (I/O) 1.79%⁽²⁾		05/10/49		5,588,471		337,697
Hudson Yards Mortgage Trust (19-30HY-A) 3.23%⁽¹⁾		07/10/39		560,000		631,033
Hudson Yards Mortgage Trust (19-55HY-A) 3.04%^(1),(2)		12/10/41		550,000		611,175
Hudson Yards Mortgage Trust (19-55HY-F) 3.04%^(1),(2)		12/10/41		150,000		133,478
ILPT Trust (19-SURF-A) 4.15%⁽¹⁾		02/11/41		240,000		275,298
JPMBB Commercial Mortgage Securities Trust (14-C24-XA) (I/O) 1.06%⁽²⁾		11/15/47		8,024,404		194,833
JPMBB Commercial Mortgage Securities Trust (14-C21-XA) (I/O) 1.16%⁽²⁾		08/15/47		1,889,485		55,059
JPMBB Commercial Mortgage Securities Trust (14-C23-XA) (I/O) 0.78%⁽²⁾		09/15/47		11,080,013		228,051
JPMCC Commercial Mortgage Securities Trust (17-JP5-XA) (I/O) 1.16%⁽²⁾		03/15/50		13,611,139		626,386
JPMorgan Chase Commercial Mortgage Securities Trust (11-C3-XB) (I/O) 0.61%^(1),(2)		02/15/46		53,787,856		215,931
JPMorgan Chase Commercial Mortgage Securities Trust (12-HSBC-XA) (I/O) 1.58%^(1),(2),(6)		07/05/32		4,387,915		93,585
JPMorgan Chase Commercial Mortgage Securities Trust (12-LC9-XA) (I/O) 1.64%⁽²⁾		12/15/47		6,891,556		175,982
JPMorgan Chase Commercial Mortgage Securities Trust (13-LC11-XA) (I/O) 1.39%⁽²⁾		04/15/46		22,573,506		583,018
JPMorgan Chase Commercial Mortgage Securities Trust (19-OSB-A) 3.40%⁽¹⁾		06/05/39		585,000		666,246
JPMorgan Chase Commercial Mortgage Securities Trust (19-OSB-C) 3.75%^(1),(2)		06/05/39		150,000		165,541
Manhattan West (20-1MW-A) 2.13%⁽¹⁾		09/10/39		695,000		722,057
MFT Mortgage Trust (20-B6-C) 3.39%^(1),(2)		08/10/40		220,000		203,436

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
MFT Trust (20-ABC-C) 3.48%^(1),(2)		02/10/42	$	175,000	$	169,569
MFT Trust (20-ABC-D) 3.48%^(1),(2)		02/10/42		180,000		167,108
MKT Mortgage Trust (20-525M-A) 2.69%⁽¹⁾		02/12/40		335,000		356,938
Morgan Stanley Bank of America Merrill Lynch Trust (15-C22-XA) (I/O) 1.19%⁽²⁾		04/15/48		9,115,658		311,830
Morgan Stanley Bank of America Merrill Lynch Trust (15-C24-XA) (I/O) 0.87%⁽²⁾		05/15/48		10,188,522		301,461
Morgan Stanley Bank of America Merrill Lynch Trust (16-C31-XA) (I/O) 1.53%⁽²⁾		11/15/49		7,578,424		447,810
Morgan Stanley Capital I Trust (12-C4-XA) (I/O) 2.24%^(1),(2),(6)		03/15/45		5,315,465		104,847
Morgan Stanley Capital I Trust (19-L2-A3) 3.81%		03/15/52		460,000		526,780
Morgan Stanley Capital I Trust (19-L2-A4) 4.07%		03/15/52		980,000		1,170,660
Morgan Stanley Capital I Trust (20-CNP-A) 2.51%^(1),(2)		04/05/42		650,000		683,566
One Bryant Park Trust (19-OBP-A) 2.52%⁽¹⁾		09/15/54		1,295,000		1,388,536
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2A) 3.66%^(1),(2)		01/05/43		390,000		400,272
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2B) 4.14%^(1),(2)		01/05/43		155,000		146,102
UBS Commercial Mortgage Trust (12-C1-XA) (I/O) 2.25%^(1),(2),(6)		05/10/45		5,100,240		108,482
UBS Commercial Mortgage Trust (17-C5-XA) (I/O) 1.15%⁽²⁾		11/15/50		7,256,334		368,236
UBS-Barclays Commercial Mortgage Trust (12-C3-XA) (I/O) 1.98%^(1),(2)		08/10/49		13,387,788		381,209
UBS-Barclays Commercial Mortgage Trust (13-C5-XA) (I/O) 1.08%^(1),(2)		03/10/46		13,054,519		224,548
Wells Fargo Commercial Mortgage Trust (12-LC5-XA) (I/O) 1.90%^(1),(2)		10/15/45		5,112,416		143,535
WFRBS Commercial Mortgage Trust (12-C8-XA) (I/O) 1.96%^(1),(2),(6)		08/15/45		4,232,085		98,628
WFRBS Commercial Mortgage Trust (12-C9-XA) (I/O) 2.04%^(1),(2)		11/15/45		2,515,445		76,319
WFRBS Commercial Mortgage Trust (13-C14-XA) (I/O) 0.85%⁽²⁾		06/15/46		8,499,018		122,934
WFRBS Commercial Mortgage Trust (13-C16-XA) (I/O) 0.83%⁽²⁾		09/15/46		12,449,319		208,830
WFRBS Commercial Mortgage Trust (14-C24-XA) (I/O) 0.98%⁽²⁾		11/15/47		5,479,835		145,296

Total Commercial Mortgage-backed Securities—Non-Agency (Cost: $29,457,995)						26,035,914

Residential Mortgage-backed Securities—Agency—1.2%
Fannie Mae , Pool #AN9293 3.71%		09/01/30		575,000		691,052
Fannie Mae (04-53-QV) (I/O) (I/F) 1.59%⁽⁵⁾		02/25/34		480,521		3,998
Fannie Mae (07-42-SE) (I/O) (I/F) 5.96% (-1.00 x 1 mo. USD LIBOR + 6.110%)⁽⁵⁾		05/25/37		88,982		12,739
Fannie Mae (07-48-SD) (I/O) (I/F) 5.95% (-1.00 x 1 mo. USD LIBOR + 6.100%)⁽⁵⁾		05/25/37		1,384,748		291,285
Fannie Mae (09-69-CS) (I/O) (I/F) 6.60% (-1.00 x 1 mo. USD LIBOR + 6.750%)⁽⁵⁾		09/25/39		253,166		46,672
Freddie Mac (1673-SD) (I/F) (PAC) 17.95% (-2.15 x T10Y + 19.391%)⁽⁵⁾		02/15/24		45,668		54,427
Freddie Mac (1760-ZD) 0.17% (1 x T10Y - 0.500%)⁽⁵⁾		02/15/24		98,610		97,747
Freddie Mac (2990-JK) (I/F) 21.39% (-1.00 x 1 mo. USD LIBOR + 22.004%)⁽⁵⁾		03/15/35		73,673		91,622
Freddie Mac (3122-SG) (I/O) (I/F) (TAC) (PAC) 5.48% (-1.00 x 1 mo. USD LIBOR + 5.630%)⁽⁵⁾		03/15/36		2,105,438		426,339
Freddie Mac (3239-SI) (I/O) (I/F) (PAC) 6.50% (-1.00 x 1 mo. USD LIBOR + 6.650%)⁽⁵⁾		11/15/36		487,339		120,895
Freddie Mac (3323-SA) (I/O) (I/F) 5.96% (-1.00 x 1 mo. USD LIBOR + 6.110%)⁽⁵⁾		05/15/37		94,960		13,635
Freddie Mac (3459-JS) (I/O) (I/F) 6.10% (-1.00 x 1 mo. USD LIBOR + 6.250%)⁽⁵⁾		06/15/38		174,411		37,485
Freddie Mac (4030-HS) (I/O) (I/F) 6.46% (-1.00 x 1 mo. USD LIBOR + 6.610%)⁽⁵⁾		04/15/42		1,042,793		220,371
Ginnie Mae (06-35-SA) (I/O) (I/F) 6.44% (-1.00 x 1 mo. USD LIBOR + 6.600%)⁽⁵⁾		07/20/36		1,398,220		334,709
Ginnie Mae (06-61-SA) (I/O) (I/F) (TAC) 4.59% (-1.00 x 1 mo. USD LIBOR + 4.750%)⁽⁵⁾		11/20/36		2,346,600		325,661
Ginnie Mae (08-58-TS) (I/O) (I/F) (TAC) 6.24% (-1.00 x 1 mo. USD LIBOR + 6.400%)⁽⁵⁾		05/20/38		1,123,953		119,131
Ginnie Mae (16-153-IO) (I/O) 3.50%		11/20/46		2,990,605		375,061

Total Residential Mortgage-backed Securities—Agency (Cost: $2,145,856)						3,262,829

Residential Mortgage-backed Securities—Non-Agency—33.4%
ACE Securities Corp. (04-IN1-A1) 0.79% (1 mo. USD LIBOR + 0.640%)⁽⁵⁾		05/25/34		474,785		439,770
ACE Securities Corp. (07-ASP1-A2C) 0.41% (1 mo. USD LIBOR + 0.260%)⁽⁵⁾		03/25/37		1,430,454		850,401
Adjustable Rate Mortgage Trust (05-4-6A22) 3.35%^(2),(7)		08/25/35		523,163		316,634
Adjustable Rate Mortgage Trust (06-1-2A1) 3.99%^(2),(7)		03/25/36		416,144		298,902

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Ajax Mortgage Loan Trust (19-F-A2) 3.50%⁽¹⁾		07/25/59	$	1,300,000	$	1,340,263
Asset-Backed Funding Certificates (07-NC1-A2) 0.45% (1 mo. USD LIBOR + 0.300%)^(1),(5)		05/25/37		1,264,412		1,208,338
Asset-Backed Securities Corp. Home Equity (06-HE3-A5) 0.42% (1 mo. USD LIBOR + 0.270%)⁽⁵⁾		03/25/36		1,425,000		1,386,338
Asset-Backed Securities Corp. Home Equity (07-HE1-A1B) 0.30% (1 mo. USD LIBOR + 0.150%)^(5),(7)		12/25/36		556,323		535,415
Banc of America Alternative Loan Trust (05-10-1CB1) 0.55% (1 mo. USD LIBOR + 0.400%)^(5),(7)		11/25/35		617,958		507,410
Banc of America Funding Corp. (15-R3-6A2) 0.35%^(1),(2)		05/27/36		1,957,384		1,815,133
Banc of America Funding Trust (06-3-4A14) 6.00%		03/25/36		363,246		384,382
Banc of America Funding Trust (06-3-5A3) 5.50%⁽⁷⁾		03/25/36		194,698		186,098
Banc of America Funding Trust (14-R5-1A1) 1.81% (6 mo. USD LIBOR + 1.500%)^(1),(5)		09/26/45		727,496		719,224
Banc of America Funding Trust (15-R4-2A1) 0.38% (1 mo. USD LIBOR + 0.205%)^(1),(5)		02/25/37		850,763		828,765
BCMSC Trust (00-A-A4) 8.29%⁽²⁾		06/15/30		3,316,690		985,692
Bear Stearns Adjustable Rate Mortgage Trust (03-7-9A) 3.96%⁽²⁾		10/25/33		354,595		346,482
Bear Stearns Adjustable Rate Mortgage Trust (05-9-A1) 2.41% (1 year Treasury Constant Maturity Rate + 2.300%)⁽⁵⁾		10/25/35		203,573		204,836
Bear Stearns Adjustable Rate Mortgage Trust (07-4-22A1) 3.59%^(2),(7)		06/25/47		1,082,644		1,047,018
Bear Stearns ALT-A Trust (05-3-4A3) 3.00%⁽²⁾		04/25/35		514,001		506,728
Bear Stearns Asset-Backed Securities Trust (05-AC6-1A3) 5.50%⁽²⁾		09/25/35		496,841		509,128
Bear Stearns Asset-Backed Securities Trust (06-IM1-A1) 0.38% (1 mo. USD LIBOR + 0.230%)⁽⁵⁾		04/25/36		275,300		380,995
Bear Stearns Mortgage Funding Trust (07-AR3-1X) (I/O) 0.50%⁽³⁾		03/25/37		34,793,488		886,173
Centex Home Equity Loan Trust (05-A-AF5) 5.78%		01/25/35		287,326		285,191
CIM Trust (17-8-A1) 3.00%^(1),(2)		12/25/65		729,089		731,211
CIM Trust (18-R2-A1) 3.69%^(1),(2),(7)		08/25/57		804,551		784,263
CIM Trust (18-R4-A1) 4.07%^(1),(2)		12/26/57		1,051,885		1,090,188
CIM Trust (19-R1-A) 3.25%^(1),(2)		10/25/58		1,138,224		1,058,881
Citigroup Mortgage Loan Trust, Inc. (05-11-A2A) 2.53% (1 year Treasury Constant Maturity Rate + 2.400%)⁽⁵⁾		10/25/35		312,216		315,872
Citigroup Mortgage Loan Trust, Inc. (05-8-1A1A) 2.93%^(2),(7)		10/25/35		822,649		754,943
Citigroup Mortgage Loan Trust, Inc. (14-10-2A2) 0.43% (1 mo. USD LIBOR + 0.250%)^(1),(5)		07/25/37		1,760,303		1,707,144
CitiMortgage Alternative Loan Trust (06-A3-1A7) 6.00%⁽⁷⁾		07/25/36		787,515		813,389
CitiMortgage Alternative Loan Trust (06-A5-1A8) 6.00%⁽⁷⁾		10/25/36		845,913		844,524
Conseco Finance Securitizations Corp. (99-6-A1) 7.36%^(1),(2)		06/01/30		1,461,746		845,177
Conseco Financial Corp. (96-6-M1) 7.95%⁽²⁾		09/15/27		165,932		177,193
Conseco Financial Corp. (96-7-M1) 7.70%⁽²⁾		09/15/26		349,083		360,017
Conseco Financial Corp. (98-3-A6) 6.76%⁽²⁾		03/01/30		64,106		64,339
Conseco Financial Corp. (98-4-A5) 6.18%		04/01/30		150,566		150,715
Conseco Financial Corp. (98-4-A6) 6.53%⁽²⁾		04/01/30		91,598		93,812
Conseco Financial Corp. (98-4-A7) 6.87%⁽²⁾		04/01/30		96,991		99,614
Countrywide Alternative Loan Trust (05-20CB-4A1) 5.25%⁽⁷⁾		07/25/20		1,453		1,452
Countrywide Alternative Loan Trust (06-8T1-1A2) (I/O) 5.35% (1 mo. USD LIBOR + 5.500%)^(3),(5)		04/25/36		5,969,453		1,501,688
Countrywide Asset-Backed Certificates (07-13-2A1) 1.05% (1 mo. USD LIBOR + 0.900%)⁽⁵⁾		10/25/47		646,668		631,290
Countrywide Home Loans (04-HYB4-B1) 3.08%⁽²⁾		09/20/34		589,485		255,077
Countrywide Home Loans (06-14-X) (I/O) 0.13%^(3),(2)		09/25/36		15,357,417		60,768
Countrywide Home Loans (06-HYB2-1A1) 3.91%^(2),(7)		04/20/36		833,164		668,750
Credit Suisse First Boston Mortgage Securities Corp. (04-AR5-11A2) 0.89% (1 mo. USD LIBOR + 0.740%)⁽⁵⁾		06/25/34		120,821		119,316
Credit Suisse First Boston Mortgage Securities Corp. (05-12-1A1) 6.50%⁽⁷⁾		01/25/36		1,126,053		587,091
Credit Suisse Mortgage Capital Certificates (06-6-1A8) 6.00%⁽⁷⁾		07/25/36		577,903		445,615
Credit-Based Asset Servicing and Securitization LLC (03-CB3-AF1) 3.38%		12/25/32		451,014		460,039
Credit-Based Asset Servicing and Securitization LLC (06-CB1-AF2) 3.20%		01/25/36		1,253,712		1,024,298
Credit-Based Asset Servicing and Securitization LLC (06-CB2-AF2) 3.20%		12/25/36		2,283,140		1,835,895
Credit-Based Asset Servicing and Securitization LLC (07-CB2-A2B) 3.85%		02/25/37		1,045,114		871,620
Credit-Based Asset Servicing and Securitization LLC (07-CB2-A2C) 3.85%		02/25/37		1,026,837		856,280
Credit-Based Asset Servicing and Securitization LLC (07-CB3-A3) 3.56%		03/25/37		1,352,318		719,953
CSMC Trust (19-RPL2-A1A) 4.34%⁽¹⁾		11/25/58		1,084,323		1,072,934
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust (06-AB2-A2) 5.04%^(2),(7)		06/25/36		1,501,681		1,460,269
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust (06-AR6-A6) 0.34% (1 mo. USD LIBOR + 0.190%)^(5),(7)		02/25/37		512,026		462,982

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
DSLA Mortgage Loan Trust (06-AR2-2A1A) 0.36% (1 mo. USD LIBOR + 0.200%)⁽⁵⁾		10/19/36	$	439,541	$	383,765
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF11-2A3) 0.30% (1 mo. USD LIBOR + 0.150%)⁽⁵⁾		08/25/36		1,327,003		1,167,213
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF13-A2C) 0.31% (1 mo. USD LIBOR + 0.160%)⁽⁵⁾		10/25/36		867,579		698,712
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF18-A2D) 0.36% (1 mo. USD LIBOR + 0.210%)⁽⁵⁾		12/25/37		776,716		719,099
First Horizon Alternative Mortgage Securities Trust (05-AA10-2A1) 3.06%^(2),(7)		12/25/35		371,707		322,215
Greenpoint Manufactured Housing (00-1-A4) 8.14%⁽²⁾		03/20/30		662,429		600,615
GSAA Home Equity Trust (06-13-AF6) 6.04%		07/25/36		1,400,203		663,824
GSC Capital Corp. Mortgage Trust (06-2-A1) 0.33% (1 mo. USD LIBOR + 0.180%)^(5),(7)		05/25/36		311,025		290,582
GSR Mortgage Loan Trust (05-AR3-6A1) 3.66%⁽²⁾		05/25/35		261,732		247,976
HSI Asset Loan Obligation Trust (07-2-2A12) 6.00%		09/25/37		443,928		423,456
Indymac INDX Mortgage Loan Trust (04-AR6-5A1) 3.19%⁽²⁾		10/25/34		375,953		378,759
Indymac INDX Mortgage Loan Trust (05-AR19-A1) 3.04%⁽²⁾		10/25/35		527,128		459,693
Indymac INDX Mortgage Loan Trust (06-AR13-A4X) (I/O) 2.40%^(2),(3)		07/25/36		211,983		2,336
Indymac INDX Mortgage Loan Trust (06-AR9-1A1) 3.62%⁽²⁾		06/25/36		706,073		545,209
Indymac INDX Mortgage Loan Trust (07-AR5-2A1) 3.40%^(2),(7)		05/25/37		933,078		865,951
Indymac INDX Mortgage Loan Trust (07-FLX2-A1C) 0.34% (1 mo. USD LIBOR + 0.190%)⁽⁵⁾		04/25/37		2,051,990		1,886,092
JPMorgan Alternative Loan Trust (06-A2-5A1) 3.56%^(2),(7)		05/25/36		549,133		415,970
JPMorgan Mortgage Acquisition Corp. (05-FRE1-A2F3) 3.13%		10/25/35		7,164		7,152
JPMorgan Mortgage Acquisition Trust (06-WF1-A5) 6.41%		07/25/36		2,275,652		1,057,365
JPMorgan Mortgage Acquisition Trust (07-CH4-A4) 0.31% (1 mo. USD LIBOR + 0.160%)⁽⁵⁾		01/25/36		120,442		120,148
JPMorgan Mortgage Trust (04-A6-5A1) 3.82%⁽²⁾		12/25/34		293,293		277,815
JPMorgan Mortgage Trust (07-S2-1A1) 5.00%		06/25/37		150,140		88,323
JPMorgan Resecuritization Trust (15-4-1A5) 0.37% (1 mo. USD LIBOR + 0.190%)^(1),(5)		06/26/47		1,863,000		1,609,177
JPMorgan Resecuritization Trust (15-4-2A2) 3.99%^(1),(2),(7)		06/26/47		4,230,388		2,732,757
Legacy Mortgage Asset Trust (19-GS4-A1) 3.44%^(1),(7)		05/25/59		1,128,609		1,098,023
Lehman Mortgage Trust (06-7-2A5) (I/O) 6.40% (1 mo. USD LIBOR + 6.550%)^(3),(5)		11/25/36		3,330,450		1,138,789
Lehman XS Trust (06-10N-1A3A) 0.36% (1 mo. USD LIBOR + 0.210%)^(5),(7)		07/25/46		709,480		690,152
Lehman XS Trust (06-12N-A31A) 0.35% (1 mo. USD LIBOR + 0.200%)⁽⁵⁾		08/25/46		958,657		905,483
Long Beach Mortgage Loan Trust (04-4-M1) 1.05% (1 mo. USD LIBOR + 0.900%)⁽⁵⁾		10/25/34		775,068		762,548
MASTR Alternative Loan Trust (06-2-2A2) (I/O) 6.95% (1 mo. USD LIBOR + 7.100%)^(3),(5)		03/25/36		5,936,144		1,614,196
MASTR Alternative Loans Trust (07-HF1-4A1) 7.00%⁽⁷⁾		10/25/47		1,093,327		721,821
MASTR Asset-Backed Securities Trust (06-NC1-A4) 0.75% (1 mo. USD LIBOR + 0.600%)⁽⁵⁾		01/25/36		47,463		46,056
MASTR Asset-Backed Securities Trust (07-HE1-A4) 0.43% (1 mo. USD LIBOR + 0.280%)⁽⁵⁾		05/25/37		2,000,000		1,535,904
Merrill Lynch Alternative Note Asset Trust (07-OAR2-A2) 0.36% (1 mo. USD LIBOR + 0.210%)⁽⁵⁾		04/25/37		1,157,012		1,045,888
Merrill Lynch First Franklin Mortgage Loan Trust (07-3-A2B) 0.28% (1 mo. USD LIBOR + 0.130%)^(5),(7)		06/25/37		630,463		460,510
Merrill Lynch First Franklin Mortgage Loan Trust (07-3-A2C) 0.33% (1 mo. USD LIBOR + 0.180%)^(5),(7)		06/25/37		1,287,392		947,935
Merrill Lynch Mortgage-Backed Securities Trust (07-2-1A1) 2.52% (1 year Treasury Constant Maturity Rate + 2.400%)^(5),(7)		08/25/36		210,645		199,186
Mid-State Trust (04-1-B) 8.90%		08/15/37		248,391		282,170
Mid-State Trust (04-1-M1) 6.50%		08/15/37		248,391		263,603
Morgan Stanley ABS Capital I, Inc. Trust (06-HE3-A1) 0.29% (1 mo. USD LIBOR + 0.140%)⁽⁵⁾		04/25/36		433,215		411,164
Morgan Stanley ABS Capital I, Inc. Trust (07-15AR-4A1) 3.16%⁽²⁾		11/25/37		420,336		425,096
New Century Home Equity Loan Trust (05-B-A2D) 0.55% (1 mo. USD LIBOR + 0.400%)⁽⁵⁾		10/25/35		363,548		362,883
Nomura Asset Acceptance Corp. (06-AR1-1A) 4.26%⁽²⁾		02/25/36		817,144		770,706
Oakwood Mortgage Investors, Inc. (00-A-A4) 8.15%⁽²⁾		09/15/29		1,773,662		868,570
Oakwood Mortgage Investors, Inc. (00-D-A4) 7.40%⁽²⁾		07/15/30		706,311		274,976
Oakwood Mortgage Investors, Inc. (01-C-A3) 6.61%⁽²⁾		06/15/31		1,671,028		384,509
Oakwood Mortgage Investors, Inc. (01-D-A3) 5.90%⁽²⁾		09/15/22		749,731		567,794
Oakwood Mortgage Investors, Inc. (01-D-A4) 6.93%⁽²⁾		09/15/31		434,378		357,145
Oakwood Mortgage Investors, Inc. (02-A-A3) 6.03%⁽²⁾		05/15/24		170,302		174,746
Oakwood Mortgage Investors, Inc. (98-A-M) 6.83%⁽²⁾		05/15/28		77,962		78,926
Oakwood Mortgage Investors, Inc. (99-B-A4) 6.99%		12/15/26		141,909		144,566

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Oakwood Mortgage Investors, Inc. (99-E-A1) 7.61%⁽²⁾		03/15/30	$	813,340	$	663,734
Popular ABS Mortgage Pass-Through Trust (05-6-A4) 3.58%		01/25/36		320,800		323,141
RALI Series Trust (06-QS13-1A2) (I/O) 7.01% (1 mo. USD LIBOR + 7.160%)^(3),(5)		09/25/36		3,742,971		755,041
RALI Series Trust (06-QS7-A2) 6.00%⁽⁷⁾		06/25/36		529,116		498,529
RASC Series Trust (05-KS11-M1) 0.55% (1 mo. USD LIBOR + 0.400%)⁽⁵⁾		12/25/35		2,283		2,287
RBSSP Resecuritization Trust (12-6-4A2) 0.51% (1 mo. USD LIBOR + 0.330%)^(1),(5)		01/26/36		2,208,698		2,135,452
Residential Accredit Loans, Inc. (05-QA7-A1) 2.30%^(2),(7)		07/25/35		931,257		804,973
Residential Accredit Loans, Inc. (05-QA8-CB21) 3.83%^(2),(7)		07/25/35		463,401		346,049
Residential Accredit Loans, Inc. (06-QA10-A2) 0.33% (1 mo. USD LIBOR + 0.180%)^(5),(7)		12/25/36		712,048		665,476
Residential Accredit Loans, Inc. (06-QS1-A3) (PAC) 5.75%⁽⁷⁾		01/25/36		416,143		389,276
Residential Accredit Loans, Inc. (06-QS11-AV) (I/O) 0.35%^(3),(2)		08/25/36		9,981,347		132,336
Residential Accredit Loans, Inc. (06-QS6-1AV) (I/O) 0.76%^(3),(2)		06/25/36		4,571,470		105,205
Residential Accredit Loans, Inc. (06-QS8-A3) 6.00%⁽⁷⁾		08/25/36		893,898		875,859
Residential Accredit Loans, Inc. (07-QS2-AV) (I/O) 0.33%^(3),(2)		01/25/37		11,456,779		121,008
Residential Accredit Loans, Inc. (07-QS3-AV) (I/O) 0.35%^(3),(2)		02/25/37		12,038,801		144,065
Residential Accredit Loans, Inc. (07-QS6-A62) (TAC) 5.50%⁽⁷⁾		04/25/37		266,488		252,269
Residential Asset Securitization Trust (05-A15-4A1) 6.00%		02/25/36		1,001,980		548,118
Residential Asset Securitization Trust (07-A5-AX) (I/O) 6.00%⁽³⁾		05/25/37		2,034,845		392,664
Residential Funding Mortgage Securities (06-S9-AV) (I/O) 0.34%^(2),(3)		09/25/36		26,982,208		310,228
Saxon Asset Securities Trust (07-3-2A4) 0.64% (1 mo. USD LIBOR + 0.490%)⁽⁵⁾		09/25/47		2,926,000		2,506,800
Securitized Asset-Backed Receivables LLC Trust (07-NC2-A2C) 0.37% (1 mo. USD LIBOR + 0.220%)⁽⁵⁾		01/25/37		4,614,000		3,137,065
Soundview Home Loan Trust (06-1-A4) 0.45% (1 mo. USD LIBOR + 0.300%)⁽⁵⁾		02/25/36		486,774		482,901
Structured Adjustable Rate Mortgage Loan Trust (05-20-1A1) 3.28%^(2),(7)		10/25/35		216,517		206,598
Structured Adjustable Rate Mortgage Loan Trust (07-9-2A1) 3.52%^(2),(7)		10/25/47		347,999		278,503
Structured Asset Mortgage Investments II Trust (06-AR4-5A1) 0.33% (1 mo. USD LIBOR + 0.180%)^(5),(7)		06/25/36		984,986		868,627
WAMU Asset-Backed Certificates (07-HE1-2A3) 0.30% (1 mo. USD LIBOR + 0.150%)⁽⁵⁾		01/25/37		1,983,583		1,236,883
Wells Fargo Alternative Loan Trust (07-PA2-2A2) (I/O) 5.92% (1 mo. USD LIBOR + 6.070%)^(3),(5)		06/25/37		2,610,784		357,314
Wells Fargo Mortgage-Backed Securities Trust (07-AR3-A4) 4.03%^(2),(7)		04/25/37		218,239		206,565


Total Residential Mortgage-backed Securities—Non-Agency (Cost: $82,387,298)						90,140,430


Total Mortgage-backed Securities (Cost: $131,702,219)						134,600,284


CORPORATE BONDS—30.1%

Aerospace/Defense—0.2%
BAE Systems Holdings, Inc. 2.85%⁽¹⁾		12/15/20		500,000		501,394


Agriculture—0.5%
BAT Capital Corp.
2.73%		03/25/31		130,000		129,671
4.54%		08/15/47		130,000		139,651
Reynolds American, Inc. 5.85%		08/15/45		975,000		1,191,070

						1,460,392


Airlines—0.6%
America West Airlines, Inc. Pass-Through Certificates (00-2-A1) (EETC) 7.71%		10/02/22		119,518		121,183
America West Airlines, Inc. Pass-Through Certificates (01-1) (EETC) 7.10%		10/02/22		141,414		138,589
Delta Air Lines, Inc. Pass-Through Certificates (02-1G1) (EETC) 6.72%		07/02/24		320,538		307,717
JetBlue Pass-Through Certificates (20-1A) 4.00%		05/15/34		800,000		823,392
US Airways Group, Inc. Pass-Through Certificates (10-1A) (EETC) 6.25%		10/22/24		377,071		340,286

						1,731,167


Auto Manufacturers—1.8%
Daimler Finance North America LLC 1.18% (3 mo. USD LIBOR + 0.900%)^(1),(5)		02/15/22		700,000		702,652
Ford Motor Credit Co. LLC
1.50% (3 mo. USD LIBOR + 1.270%)⁽⁵⁾		03/28/22		345,000		329,581
2.34%		11/02/20		140,000		140,000
3.20%		01/15/21		1,525,000		1,524,638
3.34%		03/28/22		645,000		643,268
General Motors Co. 4.88%		10/02/23		150,000		163,381
General Motors Financial Co., Inc.
3.15%		06/30/22		180,000		184,910
3.20%		07/06/21		90,000		91,380
3.45%		04/10/22		55,000		56,504
4.20%		11/06/21		95,000		98,060
4.38%		09/25/21		906,000		934,874

						4,869,248


Banks—3.3%
Bank of America Corp.
1.32% (SOFR + 1.150%)⁽⁵⁾		06/19/26		255,000		256,775
2.88% (3 mo. USD LIBOR + 1.190%)⁽⁵⁾		10/22/30		190,000		205,546
4.08% (3 mo. USD LIBOR + 3.150%)⁽⁵⁾		03/20/51		395,000		488,453

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Citigroup, Inc.
2.57% (SOFR + 2.107%)⁽⁵⁾		06/03/31	$	470,000	$	493,649
4.41% (SOFR + 3.914%)⁽⁵⁾		03/31/31		440,000		528,488
Comerica, Inc. 5.63% (U.S. 5 year Treasury Constant Maturity Rate + 5.291%)⁽⁵⁾		12/31/99		395,000		415,738
Goldman Sachs Group, Inc. (The)
3.69% (3 mo. USD LIBOR + 1.510%)⁽⁵⁾		06/05/28		180,000		201,656
3.81% (3 mo. USD LIBOR + 1.158%)⁽⁵⁾		04/23/29		250,000		285,334
HSBC Holdings PLC 2.01% (SOFR + 1.732%)⁽⁵⁾		09/22/28		685,000		679,691
JPMorgan Chase & Co.
2.18% (SOFR + 1.890%)⁽⁵⁾		06/01/28		505,000		527,882
3.56% (3 mo. USD LIBOR + 0.730%)⁽⁵⁾		04/23/24		535,000		574,034
Lloyds Banking Group PLC (United Kingdom)
3.87% (1 year Treasury Constant Maturity Rate + 3.500%)⁽⁵⁾		07/09/25		285,000		310,570
3.90%		03/12/24		405,000		440,541
Santander UK Group Holdings PLC (United Kingdom) 3.37% (3 mo. USD LIBOR + 1.080%)⁽⁵⁾		01/05/24		435,000		454,863
Santander UK PLC (United Kingdom) 3.40%		06/01/21		975,000		995,044
Wells Fargo & Co.
2.39% (SOFR+ 2.100%)⁽⁵⁾		06/02/28		320,000		334,364
2.57% (3 mo. USD LIBOR + 1.000%)⁽⁵⁾		02/11/31		625,000		655,569
2.88% (3 mo. USD LIBOR + 1.170%)⁽⁵⁾		10/30/30		195,000		209,249
3.07% (SOFR + 2.530%)⁽⁵⁾		04/30/41		390,000		409,793
5.01% (3 mo. USD LIBOR + 4.240%)⁽⁵⁾		04/04/51		280,000		385,236

						8,852,475


Beverages—0.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide, Inc. 4.90%		02/01/46		704,000		870,737
Bacardi, Ltd.
4.70%⁽¹⁾		05/15/28		15,000		17,454
5.30%⁽¹⁾		05/15/48		205,000		257,759

						1,145,950


Biotechnology—0.2%
Amgen, Inc. 4.40%		05/01/45		110,000		136,121
Emergent BioSolutions, Inc. 3.88%⁽¹⁾		08/15/28		275,000		276,768

						412,889


Chemicals—0.3%
International Flavors & Fragrances, Inc. 5.00%		09/26/48		410,000		508,980
Nutrition & Biosciences, Inc. 3.47%⁽¹⁾		12/01/50		300,000		303,745

						812,725


Commercial Services—0.6%
Emory University 2.14%		09/01/30		260,000		272,824
IHS Markit, Ltd.
4.00%⁽¹⁾		03/01/26		73,000		81,564
4.75%⁽¹⁾		02/15/25		370,000		420,120
5.00%⁽¹⁾		11/01/22		711,000		764,160

						1,538,668


Computers—0.2%
Apple, Inc. 3.00%		11/13/27		400,000		452,715
Dell International LLC / EMC Corp. 4.42%⁽¹⁾		06/15/21		48,000		49,141

						501,856


Diversified Financial Services—1.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland)
3.65%		07/21/27		120,000		110,049
3.88%		01/23/28		130,000		120,753
3.95%		02/01/22		415,000		420,360
4.13%		07/03/23		135,000		137,853
4.50%		05/15/21		300,000		305,753
Air Lease Corp. 3.50%		01/15/22		490,000		502,796
Avolon Holdings Funding, Ltd.
2.88%⁽¹⁾		02/15/25		305,000		279,975
3.95%⁽¹⁾		07/01/24		85,000		81,444
5.13%⁽¹⁾		10/01/23		30,000		29,969
5.25%⁽¹⁾		05/15/24		25,000		25,082
GE Capital International Funding Co. Unlimited Co. (Ireland) 4.42%		11/15/35		1,115,000		1,170,972
Park Aerospace Holdings, Ltd.
4.50%⁽¹⁾		03/15/23		250,000		247,879
5.50%⁽¹⁾		02/15/24		470,000		473,936
Raymond James Financial, Inc. 5.63%		04/01/24		650,000		750,779

						4,657,600


Electric—0.5%
FirstEnergy Transmission LLC 4.35%⁽¹⁾		01/15/25		750,000		834,353
Puget Energy, Inc. 6.00%		09/01/21		500,000		524,132

						1,358,485


Engineering & Construction—0.4%
Heathrow Funding, Ltd. (United Kingdom) 4.88%⁽¹⁾		07/15/23		700,000		717,456
PowerTeam Services LLC 9.03%⁽¹⁾		12/04/25		410,000		434,243

						1,151,699


Entertainment—0.2%
Churchill Downs, Inc. 4.75%⁽¹⁾		01/15/28		240,000		241,756
Colt Merger Sub, Inc. 6.25%⁽¹⁾		07/01/25		273,000		285,715

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Live Nation Entertainment, Inc. 4.75%⁽¹⁾		10/15/27	$	135,000	$	126,647

						654,118


Environmental Control—0.4%
Clean Harbors, Inc. 5.13%⁽¹⁾		07/15/29		275,000		298,718
GFL Environmental, Inc. (Canada)
3.75%⁽¹⁾		08/01/25		250,000		251,850
5.13%⁽¹⁾		12/15/26		157,000		162,372
Waste Pro USA, Inc. 5.50%⁽¹⁾		02/15/26		430,000		436,405

						1,149,345


Food—0.9%
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. 5.50%⁽¹⁾		01/15/30		25,000		27,243
Kraft Heinz Foods Co.
4.38%		06/01/46		345,000		354,548
4.88%⁽¹⁾		10/01/49		700,000		737,971
5.00%		07/15/35		85,000		98,203
5.00%		06/04/42		328,000		359,688
6.38%		07/15/28		210,000		258,872
7.13%⁽¹⁾		08/01/39		140,000		189,846
Kroger Co. (The) 4.45%		02/01/47		60,000		74,228
Lamb Weston Holdings, Inc. 4.63%⁽¹⁾		11/01/24		120,000		125,400
Pilgrim’s Pride Corp. 5.88%⁽¹⁾		09/30/27		250,000		260,019

						2,486,018


Forest Products & Paper—0.2%
Clearwater Paper Corp. 4.75%⁽¹⁾		08/15/28		475,000		477,736


Healthcare-Products—0.1%
Hologic, Inc. 4.63%⁽¹⁾		02/01/28		320,000		338,400


Healthcare-Services—2.4%
Anthem, Inc. 3.65%		12/01/27		430,000		490,568
Catalent Pharma Solutions, Inc. 4.88%⁽¹⁾		01/15/26		285,000		291,715
Centene Corp.
3.00%		10/15/30		949,000		969,356
3.38%		02/15/30		43,000		44,612
4.63%		12/15/29		186,000		200,872
5.38%⁽¹⁾		08/15/26		157,000		166,781
Encompass Health Corp. 4.75%		02/01/30		425,000		431,898
HCA, Inc.
5.00%		03/15/24		565,000		632,986
5.25%		06/15/49		397,000		487,151
5.63%		09/01/28		100,000		114,750
Humana, Inc.
2.90%		12/15/22		435,000		455,341
4.95%		10/01/44		125,000		165,870
Molina Healthcare, Inc. 5.38%		11/15/22		140,000		146,562
NYU Hospitals Center 4.43%		07/01/42		700,000		817,296
Tenet Healthcare Corp.
4.63%		07/15/24		234,000		235,404
4.88%⁽¹⁾		01/01/26		223,000		227,326
5.13%⁽¹⁾		11/01/27		525,000		540,592

						6,419,080


Household Products/Wares—0.1%
Spectrum Brands, Inc.
5.75%		07/15/25		135,000		139,691
6.13%		12/15/24		135,000		139,011

						278,702


Insurance—1.0%
Berkshire Hathaway Finance Corp. 4.25%		01/15/49		330,000		429,784
Farmers Exchange Capital 7.05%⁽¹⁾		07/15/28		500,000		612,523
Farmers Insurance Exchange 4.75% (3 mo. USD LIBOR + 3.231%)^(1),(5)		11/01/57		5,000		5,214
Nationwide Mutual Insurance Co. 2.54% (3 mo. USD LIBOR + 2.290%)^(1),(5)		12/15/24		1,000,000		1,000,028
Teachers Insurance & Annuity Association of America 3.30%⁽¹⁾		05/15/50		520,000		533,875

						2,581,424


Machinery-Diversified—0.1%
Titan Acquisition, Ltd. / Titan Co-Borrower LLC 7.75%⁽¹⁾		04/15/26		140,000		139,377


Media—1.1%
CCO Holdings LLC / CCO Holdings Capital Corp.
4.50%⁽¹⁾		08/15/30		436,000		458,912
4.50%⁽¹⁾		05/01/32		127,000		132,720
5.38%⁽¹⁾		06/01/29		265,000		287,496
Charter Communications Operating LLC / Charter Communications Operating Capital
4.91%		07/23/25		150,000		173,403
6.48%		10/23/45		150,000		199,860
CSC Holdings LLC
5.38%⁽¹⁾		02/01/28		25,000		26,469
6.50%⁽¹⁾		02/01/29		550,000		610,844
Sirius XM Radio, Inc. 3.88%⁽¹⁾		08/01/22		130,000		131,706
Virgin Media Secured Finance PLC (United Kingdom)
5.50%⁽¹⁾		08/15/26		200,000		208,875
5.50%⁽¹⁾		05/15/29		225,000		241,884
Walt Disney Co. (The)
2.65%		01/13/31		65,000		70,235
3.60%		01/13/51		435,000		492,066

						3,034,470


Mining—0.3%
Corp. Nacional del Cobre de Chile 3.63%⁽⁸⁾		08/01/27		350,000		384,398
Indonesia Asahan Aluminium Persero PT 6.53%⁽¹⁾		11/15/28		300,000		366,450

						750,848


Miscellaneous Manufacturers—0.8%
General Electric Co.
0.76% (3 mo. USD LIBOR + 0.480%)⁽⁵⁾		08/15/36		2,400,000		1,637,040
6.75%		03/15/32		350,000		440,682

						2,077,722

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Oil & Gas—1.4%
Antero Resources Corp.
5.00%		03/01/25	$	496,000	$	310,930
5.13%		12/01/22		125,000		102,109
BP Capital Markets America, Inc. 3.63%		04/06/30		255,000		293,227
Endeavor Energy Resources LP / EER Finance, Inc. 5.50%⁽¹⁾		01/30/26		52,000		51,707
EQT Corp. 3.90%		10/01/27		140,000		129,150
Gulfport Energy Corp. 6.38%		05/15/25		35,000		21,478
Hess Corp. 4.30%		04/01/27		380,000		398,730
Pertamina Persero PT (Indonesia) 3.10%⁽¹⁾		08/27/30		200,000		208,000
Petrobras Global Finance BV 5.09%		01/15/30		286,000		300,901
Petroleos del Peru S.A. 4.75%⁽⁸⁾		06/19/32		200,000		216,750
Petroleos Mexicanos
5.95%⁽¹⁾		01/28/31		180,000		149,922
6.63%		06/15/35		385,000		316,970
6.75%		09/21/47		75,000		57,300
6.95%⁽¹⁾		01/28/60		130,000		100,721
7.69%⁽¹⁾		01/23/50		365,000		306,874
Petronas Capital, Ltd. 3.50%⁽¹⁾		04/21/30		200,000		224,372
Range Resources Corp. 4.88%		05/15/25		310,000		279,925
Transocean Pontus, Ltd. 6.13%⁽¹⁾		08/01/25		79,560		71,540
Transocean Poseidon, Ltd. 6.88%⁽¹⁾		02/01/27		314,000		253,235

						3,793,841

Oil & Gas Services—0.2%
Transocean Proteus, Ltd. 6.25%⁽¹⁾		12/01/24		126,750		113,758
USA Compression Partners LP / USA Compression Finance Corp.
6.88%		04/01/26		162,000		160,886
6.88%		09/01/27		127,000		126,151

						400,795


Packaging & Containers—0.4%
Amcor Finance USA, Inc. 3.63%		04/28/26		400,000		445,858
Ball Corp. 4.00%		11/15/23		90,000		95,873
Graphic Packaging International LLC 4.75%⁽¹⁾		07/15/27		130,000		142,350
Matthews International Corp. 5.25%⁽¹⁾		12/01/25		160,000		152,000
Sealed Air Corp.
4.00%⁽¹⁾		12/01/27		25,000		26,156
5.50%⁽¹⁾		09/15/25		140,000		156,215

						1,018,452


Pharmaceuticals—2.2%
AbbVie, Inc.
4.05%⁽¹⁾		11/21/39		65,000		74,705
4.25%⁽¹⁾		11/21/49		400,000		473,986
4.45%		05/14/46		153,000		183,224
4.88%		11/14/48		275,000		349,352
Bausch Health Cos, Inc. (Canada) 7.00%⁽¹⁾		03/15/24		385,000		398,860
Bayer US Finance II LLC
4.25%⁽¹⁾		12/15/25		175,000		200,538
4.38%⁽¹⁾		12/15/28		690,000		811,302
4.63%⁽¹⁾		06/25/38		375,000		448,989
4.88%⁽¹⁾		06/25/48		425,000		529,093
Cigna Corp.
3.88%		10/15/47		170,000		189,611
4.13%		11/15/25		750,000		861,156
CVS Health Corp. 5.05%		03/25/48		1,125,000		1,436,827

						5,957,643


Pipelines—1.5%
Cheniere Energy Partners LP 5.25%		10/01/25		25,000		25,600
Enbridge Energy Partners LP 5.88%		10/15/25		50,000		59,764
Energy Transfer Operating LP
3.75%		05/15/30		170,000		165,092
5.00%		05/15/50		325,000		301,051
NGPL PipeCo LLC 4.38%⁽¹⁾		08/15/22		190,000		197,351
Pipeline Funding Co. LLC 7.50%⁽¹⁾		01/15/30		455,650		619,866
Plains All American Pipeline LP / PAA Finance Corp. 3.80%		09/15/30		500,000		486,231
Rockies Express Pipeline LLC 4.95%⁽¹⁾		07/15/29		425,000		414,035
Sunoco Logistics Partners Operations LP 5.40%		10/01/47		831,000		784,614
Targa Resources Partners LP / Targa Resources Partners Finance Corp. 6.88%		01/15/29		127,000		136,355
Texas Eastern Transmission LP 2.80%⁽¹⁾		10/15/22		300,000		309,035
TransMontaigne Partners LP / TLP Finance Corp. 6.13%		02/15/26		115,000		119,313
Williams Partners LP 6.30%		04/15/40		300,000		371,313

						3,989,620


REIT—1.6%
Boston Properties LP 3.25%		01/30/31		260,000		280,619
CyrusOne LP / CyrusOne Finance Corp.
2.90%		11/15/24		280,000		297,342
3.45%		11/15/29		1,045,000		1,134,818
GLP Capital LP / GLP Financing II, Inc.
5.30%		01/15/29		210,000		235,091
5.38%		04/15/26		721,000		800,436
5.75%		06/01/28		345,000		394,885
HCP, Inc. 4.25%		11/15/23		15,000		16,392
Hudson Pacific Properties LP 3.95%		11/01/27		275,000		296,271
Lexington Realty Trust 2.70%		09/15/30		275,000		280,959
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. 5.63%		05/01/24		135,000		143,475
Piedmont Operating Partnership LP 3.40%		06/01/23		425,000		440,410

						4,320,698

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Retail—0.8%
Alimentation Couche-Tard, Inc. (Canada)
2.70%⁽¹⁾		07/26/22	$	140,000	$	144,490
3.80%⁽¹⁾		01/25/50		390,000		432,871
FirstCash, Inc. 4.63%⁽¹⁾		09/01/28		275,000		280,672
Starbucks Corp. 2.25%		03/12/30		275,000		285,761
Walgreens Boots Alliance, Inc.
3.45%		06/01/26		755,000		825,572
4.80%		11/18/44		225,000		246,953

						2,216,319


Savings & Loans—0.1%
Nationwide Building Society (United Kingdom) 3.77% (3 mo. USD LIBOR + 1.064%)^(1),(5)		03/08/24		275,000		292,472


Semiconductors—0.3%
Intel Corp. 4.75%		03/25/50		650,000		899,910


Software—0.1%
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. 5.75%⁽¹⁾		03/01/25		25,000		25,482
SS&C Technologies, Inc. 5.50%⁽¹⁾		09/30/27		210,000		223,434

						248,916


Telecommunications—3.1%
AT&T, Inc.
3.30%		02/01/52		335,000		319,649
4.75%		05/15/46		530,000		624,557
4.80%		06/15/44		160,000		191,531
4.85%		03/01/39		348,000		419,105
5.25%		03/01/37		705,000		882,427
C&W Senior Financing DAC 6.88%⁽¹⁾		09/15/27		200,000		208,265
Intelsat Jackson Holdings S. A. (Luxembourg)
8.50%^(1),(9)		10/15/24		535,000		347,750
9.75%^(1),(9)		07/15/25		321,000		211,046
Koninklijke KPN NV (Netherlands) 8.38%		10/01/30		140,000		204,022
Level 3 Financing, Inc.
4.63%⁽¹⁾		09/15/27		166,000		170,863
5.38%		05/01/25		190,000		196,367
Qwest Corp. 7.25%		09/15/25		250,000		288,753
SES Global Americas Holdings GP 5.30%⁽¹⁾		03/25/44		675,000		716,276
Sprint Corp. 7.88%		09/15/23		373,000		429,183
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC
3.36%⁽¹⁾		03/20/23		172,500		174,418
4.74%⁽¹⁾		09/20/29		800,000		867,500
T-Mobile USA, Inc.
3.88%⁽¹⁾		04/15/30		175,000		198,777
4.38%⁽¹⁾		04/15/40		350,000		410,610
4.50%		02/01/26		113,000		117,000
4.75%		02/01/28		186,000		199,437
6.00%		03/01/23		44,000		44,169
6.00%		04/15/24		263,000		268,836
Vodafone Group PLC (United Kingdom) 4.88%		06/19/49		759,000		947,131

						8,437,672


Transportation—0.1%
Empresa de Transporte de Pasajeros Metro S.A. 3.65%⁽¹⁾		05/07/30		200,000		222,125


Total Corporate Bonds (Cost: $77,486,467)						81,180,251


MUNICIPAL BONDS—2.1%
Alabama Economic Settlement Authority, Revenue Bond 4.26%		09/15/32		705,000		841,890
City of New York, New York, Build America Bonds 6.65%		12/01/31		1,000,000		1,010,100
Commonwealth of Massachusetts 3.00%		03/01/48		285,000		305,015
Greater Orlando Aviation Authority, Revenue Bond 5.00%		10/01/44		115,000		138,155
Metropolitan Transportation Authority, Revenue Bond 5.18%		11/15/49		290,000		302,598
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bond 4.00%		08/01/38		370,000		416,298
New York State Dormitory Authority, Revenue Bond 5.29%		03/15/33		1,000,000		1,279,190
Regents of the University of California Medical Center Pooled, Revenue Bond 3.26%		05/15/60		695,000		765,820
San Francisco City and County Airport Comm-San Francisco International Airport, Revenue Bond 5.00%		05/01/49		485,000		574,473
State of California, General Obligation 7.95%		03/01/36		105		98

Total Municipal Bonds (Cost: $5,373,685)						5,633,637

FOREIGN GOVERNMENT BONDS—1.4%
Abu Dhabi Government International Bond 2.50%⁽⁸⁾		09/30/29		200,000		214,114
Colombia Government International Bond
3.00%		01/30/30		250,000		256,094
4.50%		01/28/26		200,000		221,520
Dominican Republic International Bond 6.00%⁽⁸⁾		07/19/28		250,000		269,766
Egypt Government International Bond 5.58%⁽¹⁾		02/21/23		200,000		205,992
Mexico Government International Bond 3.25%		04/16/30		600,000		616,086
Panama Government International Bond 3.16%		01/23/30		250,000		272,346
Qatar Government International Bond 4.50%⁽⁸⁾		04/23/28		350,000		419,282
Saudi Government International Bond
3.63%⁽⁸⁾		03/04/28		300,000		333,039
3.75%⁽¹⁾		01/21/55		200,000		216,940
South Africa Government Bond 4.88%		04/14/26		350,000		354,824
Uruguay Government International Bond 4.38%		01/23/31		200,000		238,437

Total Foreign Government Bonds (Cost: $3,460,973)						3,618,440

Total Fixed Income Securities (Cost: $245,222,623)						251,853,167

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)


Security	Shares		Value
COMMON STOCK—4.1%
BANKS—1.7%
Bank of America Corp.		62,400	$	1,503,216
Comerica, Inc.		18,823		719,980
JPMorgan Chase & Co.		14,400		1,386,288
Wells Fargo & Co.		38,967		916,114

				4,525,598


OIL & GAS—1.2%
BP PLC (SP ADR) (United Kingdom)		25,680		448,373
Chevron Corp.		6,954		500,688
ConocoPhillips		18,012		591,514
Exxon Mobil Corp.		19,680		675,614
Royal Dutch Shell PLC (SP ADR) (United Kingdom)		18,856		474,606
TOTAL SA (SP ADR) (France)		16,370		561,491

				3,252,286


Pipelines—0.2%
Energy Transfer LP		103,400		560,428


REIT—1.0%
AGNC Investment Corp.		112,141		1,559,881
Annaly Capital Management, Inc.		165,767		1,180,261
				2,740,142

Total Common Stock (Cost: $10,238,780)				11,078,454

MONEY MARKET INVESTMENTS—2.1%
State Street Institutional U.S. Government Money Market Fund—Premier Class, 0.03%⁽¹⁰⁾		5,637,396		5,637,396

Total Money Market Investments (Cost: $5,637,396)				5,637,396


Issues	Maturity Date		Principal Amount
SHORT TERM INVESTMENTS—2.2%
U.S. TREASURY SECURITIES—2.2%
U.S. Cash Management Bill 0.37%⁽¹¹⁾		01/19/21	$	6,000,000		5,998,258

Total U.S. Treasury Securities (Cost: $5,998,166)						5,998,258

Total Short Term Investments (Cost: $5,998,166)						5,998,258


Total Investments (101.7%) (Cost: $267,096,965)						274,567,275
Liabilities In Excess Of Other Assets (-1.7%)						(4,471,538	)


Net Assets (100.0%)					$	270,095,737

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS September 30, 2020 (Unaudited) (Cont’d)

FUTURES CONTRACTS


Number of Contracts	Type	Expiration Date		Notional Contract Value			Market Value			Net Unrealized Appreciation (Depreciation)
Short Futures
163	10-Year U.S. Ultra Treasury Note Futures		12/21/20	$	(26,040,554	)	$	(26,067,266	)	$	(26,712	)
56	5-Year U.S. Treasury Note Futures		12/31/20		(7,042,324	)		(7,057,750	)		(15,426	)
77	U.S. Ultra Long Bond Futures		12/21/20		(17,291,393	)		(17,079,562	)		211,831

				$	(50,374,271	)	$	(50,204,578	)	$	169,693

Notes to the Schedule of Investments:

ABS

Asset-Backed Securities.

ACES

Alternative Credit Enhancement Securities.

CLO

Collateralized Loan Obligation.

EETC

Enhanced Equipment Trust Certificate.

I/F

Inverse Floating rate security whose interest rate moves in the opposite direction of prevailing interest rates.

I/O

Interest Only Security.

PAC

Planned Amortization Class.

TAC

Target Amortization Class.

(1)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold, normally only to qualified institutional buyers. At September 30, 2020, the value of these securities amounted to $83,146,046 or 30.8% of net assets. These securities are determined to be liquid by the Fund’s investment advisor, unless otherwise noted, under procedures established by and under the general supervision of the Fund’s Board of Directors.

(2)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(3)

For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.

(4)

Security is not accruing interest.

(5)

Floating or variable rate security. The interest shown reflects the rate in effect at September 30, 2020.

(6)

Restricted security (Note 2).

(7)

A portion of the principal balance has been written-off during the period due to defaults in the underlying loans. Cost basis has been adjusted.

(8)

Investments issued under Regulation S of the Securities Act of 1933, as amended, may not be offered, sold, or delivered within the United States except under special exemptions. At September 30, 2020, the value of these securities amounted to $1,837,349 or 0.7% of net assets.

(9)

Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued.

(10)

Rate disclosed is the 7-day net yield as of September 30, 2020.

(11)

Rate shown represents yield-to-maturity.

TCW Strategic Income Fund, Inc.


Investments by Sector (Unaudited)		September 30, 2020


Sector	Percentage of Net Assets
Residential Mortgage-Backed Securities—Non-Agency		33.4	%
Corporate Bonds		30.1
Asset-Backed Securities		9.9
Commercial Mortgage-Backed Securities—Non-Agency		9.6
Commercial Mortgage-Backed Securities—Agency		5.6
Common Stock		4.1
U.S. Treasury Securities		2.2
Money Market Investments		2.1
Municipal Bonds		2.1
Foreign Government Bonds		1.4
Residential Mortgage-Backed Securities—Agency		1.2
Other*		(1.7	)

Total		100.0	%

*	Includes cash, futures, pending trades, interest receivable and accrued expenses payable.

TCW Strategic Income Fund, Inc.


Fair Valuation Summary (Unaudited)		September 30, 2020

The following is a summary of the fair valuations according to the inputs used as of September 30, 2020 in valuing the Fund’s investments:


Description	Quoted Prices in Active Markets for Identical Assets (Level 1)			Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed Income Securities
Asset-Backed Securities	$	—		$	26,709,978	$	110,577	$	26,820,555
Mortgage-Backed Securities
Commercial Mortgage-Backed Securities—Agency		—			15,161,111		—		15,161,111
Commercial Mortgage-Backed Securities—Non-Agency		—			26,035,914		—		26,035,914
Residential Mortgage-Backed Securities—Agency		—			3,262,829		—		3,262,829
Residential Mortgage-Backed Securities—Non-Agency		—			82,618,619		7,521,811		90,140,430

Total Mortgage-Backed Securities		—			127,078,473		7,521,811		134,600,284

Corporate Bonds*		—			81,180,251		—		81,180,251
Municipal Bonds		—			5,633,637		—		5,633,637
Foreign Government Bonds		—			3,618,440		—		3,618,440

Total Fixed Income Securities		—			244,220,779		7,632,388		251,853,167

Common Stock*		11,078,454			—		—		11,078,454
Money Market Investments		5,637,396			—		—		5,637,396
Short-Term Investments		5,998,258			—		—		5,998,258
Total Investments	$	22,714,108		$	244,220,779	$	7,632,388	$	274,567,275

Asset Derivatives
Futures Contracts
Interest Rate Risk		211,831			—		—		211,831

Total	$	22,925,939		$	244,220,779	$	7,632,388	$	274,779,106

Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(42,138	)	$	—	$	—	$	(42,138	)

Total	$	(42,138	)	$	—	$	—	$	(42,138	)

*	See Schedule of Investments for corresponding industries.

Note 1 — Security Valuation

Securities traded on national exchanges are valued at the last reported sales prices. Securities traded on the NASDAQ stock market (“NASDAQ”) are valued using the official closing prices as reported by NASDAQ, which may not be the last sale price. Other securities, including short-term investments, swap agreements and forward currency contracts, which are traded over-the-counter (“OTC”), are valued at the mean of the current bid and asked prices as furnished by independent pricing services or by dealer quotations. Futures contracts are valued at the official settlement prices of the exchanges on which they are traded.

Securities for which market quotations are not readily available, including as a result of circumstances under which it is determined by the Advisor that prices received are not reflective of their market values, are valued by the Advisor’s Pricing Committee in accordance with the guidelines established by the Valuation Committee of the Board of Directors of the Fund (the “Board”) and under the general oversight of the Board.

Fair value is defined as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses investments in a three-tier hierarchy. This hierarchy is utilized to establish classification of fair value measurement broadly based on inputs that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the inputs market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

Level 1 — quoted prices in active markets for identical investments.

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Level 1, Level 2, or Level 3.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

Fair Value Measurements: Descriptions of the valuation techniques applied to the Fund’s major categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”). The fair value of ABS and MBS is estimated based on pricing models that consider the estimated cash flows of each debt tranche of the issuer, establish a benchmark yield, and develop an estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche including, but not limited to, the prepayment speed assumptions and attributes of the collateral. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise, they would be categorized in Level 3.

Corporate bonds. The fair value of corporate bonds is estimated using recently executed transactions, market price quotations (where observable), bond spreads, or credit default swap spreads adjusted for any basis difference between cash and derivative instruments. Corporate bonds are generally categorized in Level 2 of the fair value hierarchy.

Futures contracts. Futures contracts are generally valued at the settlement price established at the close of business each day by the exchange on which they are traded. They are categorized in Level 1.

Government and agency securities. Government and agency securities are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. Accordingly, government and agency securities are normally categorized in Level 1 or 2 of the fair value hierarchy depending on the liquidity and transparency of the market.

Money market funds. Money market funds are open-end mutual funds that invest in short-term debt securities. To the extent that these funds are valued based upon the reported net asset value (“NAV”), they are categorized in Level 1 of the fair value hierarchy.

Municipal bonds. Municipal bonds are fair valued based on pricing models that take into account, among other factors, information received from market makers and broker-dealers, current trades, bid wanted lists, offerings, market movements, the callability of the bond, state of issuance, benchmark yield curves, and bond insurance. To the extent that these inputs are observable and timely, the fair values of municipal bonds are categorized in Level 2; otherwise, the fair values are categorized in Level 3.

Restricted securities. Restricted securities, including illiquid Rule 144A securities, issued by non-public entities are included in Level 3 of the fair value hierarchy because they trade infrequently, and therefore, the inputs are unobservable. Any other restricted securities valued similar to publicly traded securities may be categorized in Level 2 or 3 of the fair value hierarchy depending on whether a discount is applied and significant to the fair value.

Short-term investments. Short-term investments are valued using market price quotations and are reflected in Level 1 of the fair value hierarchy.

The summary of the inputs used as of September 30, 2020 is listed after the Investments by Sector table.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:


	Asset-Backed Securities			Residential Mortgage-Backed Securities — Non- Agency			Total
Balance as of December 31, 2019	$	249,257		$	7,049,925		$	7,299,182
Accrued Discounts (Premiums)		—			(576,381	)		(576,381	)
Realized Gain (Loss)		(210,617	)		—			(210,617	)
Change in Unrealized Appreciation (Depreciation)		142,388			1,048,267			1,190,655
Purchases		—			—			—
Sales		(70,451	)		—			(70,451	)
Transfers in to Level 3		—			—			—
Transfers out of Level 3		—			—			—

Balance as of September 30, 2020	$	110,577		$	7,521,811		$	7,632,388

Change in Unrealized Appreciation (Depreciation) from Investments Still Held at September 30, 2020	$	(210,617	)	$	1,048,267		$	837,650

Significant unobservable valuation inputs for Level 3 investments as of September 30, 2020, are as follows:


Description	Fair Value at September 30, 2020		Valuation Techniques*		Unobservable Input		Price or Price Range		Weighted Average Price
Asset-Backed Securities	$	110,577		Third-party Broker		Broker Quotes	$	10- $ 36.94	$	12.78
Residential Mortgage-Backed Securities—Non-Agency (Interest Only Collateral Strip Rate Securities)	$	875,945		Third-party Vendor		Vendor Prices	$	0.395- $ 2.30	$	1.09
Residential Mortgage-Backed Securities—Non-Agency (Interest Only Securities)	$	6,645,866		Third-party Vendor		Vendor Prices	$	2.55- $34.19	$	11.38

Derivative Instruments: Derivatives are financial instruments whose values are based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. It is possible that a derivative transaction will result in a loss greater than the principal amount invested. The Fund may not be able to close out a derivative transaction at a favorable time or price.

For the quarter ended September 30, 2020, the Fund had derivatives and transactions in derivatives, grouped in the following risk categories:

Asset Derivatives


	Interest Rate Risk			Total
Futures Contracts	$	211,831		$	211,831

Total Value	$	211,831		$	211,831

Liability Derivatives
Futures Contracts	$	(42,138	)$		(42,138	)

Total Value	$	(42,138	)$		(42,138	)

Outstanding Contracts⁽¹⁾
Futures Contracts		328			328

(1)

Amount disclosed represents average number of contracts which are representative of the volume traded for the period ended September 30, 2020.

Mortgage-Backed and Other Asset-Backed Securities: The Fund may invest in mortgage pass-through securities, which represent interests in pools of mortgages. Payments of both principal and interest on the securities are generally made monthly, in effect “passing through” monthly payments made by borrowers on the residential or commercial mortgage loans that underlie the securities (net of any fees paid to the issuer or guarantor of the securities). Mortgage pass-through securities differ from other forms of debt securities, which normally provide for periodic payment of interest in fixed amounts with principal payments at maturity or specified call dates. The Fund may also invest in collateralized mortgage obligations (“CMOs”). CMOs are debt obligations collateralized by residential or commercial mortgage loans or residential or commercial mortgage pass-through securities. Interest and principal are generally paid monthly. CMOs may be collateralized by whole mortgage loans or private mortgage pass-through securities but are more typically collateralized by portfolios of mortgage pass-through securities guaranteed by the Government National Mortgage Association (Ginnie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) or Federal National Mortgage Corporation (Fannie Mae). The issuer of a series of CMOs may elect to be treated for tax purposes as a Real Estate Mortgage Investment Conduit. CMOs are structured into multiple classes, each bearing a different stated maturity. Monthly payment of principal received from the pool of underlying mortgages, including prepayments, is first returned to investors holding the shortest maturity class. Investors holding the longer maturity classes usually receive principal only after shorter classes have been retired. An investor may be partially protected against a sooner than desired return of principal because of the sequential payments. The Fund may invest in stripped MBS. Stripped MBS are usually structured with two classes that receive different proportions of the interest and principal distributions on a pool of mortgage assets. In certain cases, one class will receive all of the interest (the interest only or “IO” class), while the other class will receive all of the principal (the principal-only or “PO” class). The yield to maturity on IOs is sensitive to the rate of principal repayments (including prepayments) on the related underlying mortgage assets, and principal payments may have a material effect on yield to maturity. If the underlying mortgage assets experience greater than anticipated prepayments of principal, the Fund may not fully recoup its initial investment in IOs. Mortgage-backed and other asset-backed securities held by the Fund at September 30, 2020 are listed in the Fund’s Schedule of Investments.

Repurchase Agreements: The Fund may enter into repurchase agreements under the terms of a Master Repurchase Agreement (“MRA”). In a repurchase agreement transaction, the Fund will purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. The MRA permits the Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Fund. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterparty’s

bankruptcy or insolvency. Pursuant to the terms of the MRA, the Fund receives securities as collateral with a market value in excess of the repurchase price. Upon a bankruptcy or insolvency of the MRA counterparty, the Fund recognizes a liability with respect to such excess collateral to reflect the Fund’s obligation under bankruptcy law to return the excess to the counterparty. The Fund had no repurchase agreements outstanding at September 30, 2020.

When-Issued, Delayed-Delivery, and Forward Commitment Transactions: The Fund may enter into when-issued, delayed-delivery or forward commitment transactions in order to lock in the purchase price of the underlying security or to adjust the interest rate exposure of the Fund’s existing portfolio. In when-issued, delayed-delivery, or forward commitment transactions, the Fund commits to purchase securities, with payment and delivery to take place at a future date. Although the Fund does not pay for the securities or start earning interest on them until they are delivered, it immediately assumes the risks of ownership, including the risk of price fluctuation. If the Fund’s counterparty fails to deliver a security purchased on a when-issued, delayed-delivery or forward commitment basis, there may be a loss, and the Fund may have missed an opportunity to make an alternative investment.

Prior to settlement of these transactions, the value of the subject securities will fluctuate. In addition, because the Fund is not required to pay for when-issued, delayed-delivery or forward commitment securities until the delivery date, they may result in a form of leverage. To guard against this deemed leverage, the Fund monitors the obligations under these transactions and ensures that the Fund has sufficient liquid assets to cover them. The Fund had no when-issued, delayed-delivery, or forward commitment transactions during the period ended September 30, 2020.

Security Lending: The Fund may lend its securities to qualified brokers. The loans must be collateralized at all times primarily with cash although the Fund can accept money market instruments or U.S. government securities with a market value at least equal to the market value of the securities on loan. As with any extensions of credit, the Fund may bear the risk of delay in recovery or even loss of rights in the collateral if the borrowers of the securities fail financially. The Fund earns additional income for lending its securities by investing the cash collateral in short-term investments. The Fund did not lend any securities during the period ended September 30, 2020.

Derivatives:

Forward Foreign Currency Contracts: The Fund enters into forward foreign currency contracts as a hedge against fluctuations in foreign exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in market value is recorded by the Fund as unrealized gains or losses in the Statement of Assets and Liabilities. When a contract is closed or delivery is taken, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the U.S. dollar. There were no outstanding foreign currency forward contracts as of September 30, 2020.

Futures Contracts: The Fund seeks to manage a variety of different risks or obtain exposure through the use of futures contracts. The Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure when it holds uninvested cash or as an inexpensive substitute for cash investments directly in securities or other assets. Securities index futures contracts are contracts to buy or sell units of a securities index at a specified future date at a price agreed upon when the contract is made and are settled in cash. Positions in futures may be closed out only on an exchange or board of trade which provides a secondary market for such futures. Because futures contracts are exchange-traded, they typically have minimal exposure to counterparty risk. Parties to a futures contract are not required to post the entire notional amount of the contract, but rather a small percentage of that amount (by way of margin), both at the time they enter into futures transactions, and then on a daily basis if their positions decline in value; as a result, futures contracts are highly leveraged. Such payments are known as variation margin and are recorded by the Fund as unrealized gains or losses. Because futures markets are highly leveraged, they can be extremely volatile, and there can be no assurance that the pricing of a futures contract will correlate precisely with the pricing of the asset or index underlying it or the asset or liability of the Fund that is the subject of the hedge. It may not always be possible for the Fund to enter into a closing transaction with respect to a futures contract it has entered into at a favorable time or price. When the Fund enters into a futures transaction, it is subject to the risk that the value of the futures contract will move in a direction unfavorable to it.

When the Fund uses futures contracts for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the transactions, at least in part. When a futures contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. During the period ended September 30, 2020, the Fund used S&P 500 Index futures to gain exposure to the equity market. The Fund also utilized treasury futures to help manage interest rate duration and credit market exposure. Futures contracts outstanding at September 30, 2020 are listed in the Fund’s Schedule of Investments.

Swap Agreements: The Fund may enter into swap agreements. Swap agreements are typically two-party contracts entered into primarily by institutional investors. In a standard “swap” transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest factor. The gross returns to be exchanged or “swapped” between the parties are generally calculated with respect to a “notional amount” (i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or in a “basket” of securities representing a particular index).

Interest rate swaps are agreements in which one party pays a floating rate of interest on a notional principal amount and receives a fixed rate of interest on the same notional principal amount for a specified period of time. Alternatively, a party may pay a fixed rate and receive a floating rate. In more complex swaps, the notional principal amount may decline (or amortize) over time. The Fund’s maximum risk of loss due to counterparty default is the discounted NAV of the cash flows paid to/received from the counterparty over the interest rate swap’s remaining life.

During the term of a swap transaction, changes in the value of the swap are recognized as unrealized gains or losses by marking to market to reflect the market value of the swap. When the swap is terminated, the Fund will record a realized gain or loss equal to the difference, if any, between the proceeds from (or cost of) the closing transaction and the Fund’s basis in the agreement. Upfront swap premium payments paid or received by the Fund, if any, are recorded within the value of the open swap agreement on the Fund’s Statement of Assets and Liabilities and represent payments paid or received upon entering into the swap agreement to compensate for differences between stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, and other relevant factors). These upfront payments are recorded as realized gain or loss on the Fund’s Statement of Operations upon termination or maturity of the swap agreement.

During the term of a swap transaction, the periodic net payments can be made for a set period of time or may be triggered by a predetermined credit event. The net periodic payments may be based on a fixed or variable interest rate, the change in market value of a specified security, basket of securities or index, or the return generated by a security. These periodic payments received or made by the Fund are recorded as realized gains and losses, respectively. During the period ended September 30, 2020, the Fund entered into interest rate swaps to manage duration, the yield curve or interest rate risk by economically hedging the value of the fixed-rate bonds which may decrease when interest rates rise (interest rate risk). There were no Swap agreements outstanding at September 30, 2020.

Note 2 — Restricted Securities

The Fund is permitted to invest in securities that have legal or contractual restrictions on resale. These securities may be sold privately, but are required to be registered before being sold to the public (exemption rules apply). Private placement securities are generally considered to be restricted except for those securities traded between qualified institutional investors under the provisions of Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). However, the Fund considers 144A securities to be restricted if those securities have been deemed illiquid by the Advisor. Disposal of these securities may involve time-consuming

negotiations and expense, and prompt sale at an acceptable price may be difficult. Restricted securities held by the Fund at September 30, 2020 are listed below:


Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
Citigroup Commercial Mortgage Trust, (12-GC8-XA), 1.92%, due 09/10/45		2/13/2015-2/26/2015	$	306,152	$	80,862		0.03	%
GS Mortgage Securities Trust GSMS (12-GC6-XB), 0.26% due 01/10/2045		2/1/2018		141,353		45,959		0.02	%
JPMorgan Chase Commercial Mortgage Securities Trust, (12-HSBC-XA), 1.58%, due 07/05/2032		10/11/2017		261,218		93,585		0.03	%
Morgan Stanley Capital I Trust (12-C4-XA), 2.24% due 03/15/45		5/16/2018		336,369		104,847		0.04	%
UBS Commercial Mortgage Trust (12-C1-XA), 2.25%, due 05/10/45		6/27/2017		380,313		108,482		0.10	%
WFRBS Commercial Mortgage Trust (12-C8-XA), 1.96% due 08/15/2045		12/22/2017		285,000		98,628		0.05	%

			$	1,710,405	$	532,363		0.27	%