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TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited)


Issues	Maturity Date		Principal Amount		Value

FIXED INCOME SECURITIES—111.4% of Net Assets
ASSET-BACKED SECURITIES—18.0%
Academic Loan Funding Trust (12-1A-R) 0.00%^{(1),(2),(3),(4)}		12/27/44	$	3,368	$	639,920
Allegro CLO XII, Ltd. (20-1A-B) 6.52% (3 mo. USD LIBOR + 1.700%)^(1),(5)		01/21/32		475,000		462,821
Allegro CLO XIII, Ltd. (21-1A-B) 6.51% (3 mo. USD LIBOR + 1.700%)^(1),(5)		07/20/34		650,000		628,654
AMSR Trust (20-SFR1-I) 8.19%⁽¹⁾		04/17/37		850,000		816,101
AMSR Trust (20-SFR2-F) 5.25%⁽¹⁾		07/17/37		1,375,000		1,307,474
AMSR Trust (20-SFR3-E1) 2.56%⁽¹⁾		09/17/37		1,000,000		910,246
Apidos CLO XXXVII (21-37A-B) 6.42% (3 mo. USD LIBOR + 1.600%)^(1),(5)		10/22/34		725,000		700,785
Bayview Commercial Asset Trust (03-2-A) 5.72% (1 mo. USD LIBOR + 0.870%)^(1),(5)		12/25/33		135,309		128,942
Blackrock Rainier CLO VI, Ltd. (21-6A-A) 6.51% (3 mo. USD LIBOR + 1.700%)^(1),(5)		04/20/33		700,000		685,195
BMO SBA COOF Trust (19-1-A) (I/O) 1.76%^(1),(6)		10/25/45		5,442,793		191,919
Carvana Auto Receivables Trust (20-P1-R) 0.00%^(1),(3)		09/08/27		2,000		269,110
Carvana Auto Receivables Trust (21-N3-R) 0.00%^(1),(3)		06/12/28		2,200		515,993
Carvana Auto Receivables Trust (22-N1-R) 0.00%^(1),(3)		12/11/28		4,700		888,856
Carvana Auto Receivables Trust (22-P-2R) 0.00%^(1),(3)		05/10/29		3,700		739,686
Carvana Auto Receivables Trust (22-P1-R) 0.00%^(1),(3)		01/10/29		2,425		856,263
Carvana Auto Receivables Trust (22-P3-R) 0.00%^(1),(3)		09/10/29		2,900		550,746
Carvana Auto Receivables Trust (23-P1-R) 0.00%⁽¹⁾		03/11/30		4,400		910,368
Cedar Funding II CLO, Ltd. (13-1A-BRR) 6.16% (3 mo. USD LIBOR + 1.350%)^(1),(5)		04/20/34		700,000		665,382
Cedar Funding XII CLO, Ltd. (20-12A-A1R) 5.95% (3 mo. USD LIBOR + 1.130%)^(1),(5)		10/25/34		1,375,000		1,336,126
CIFC Funding, Ltd. (18-1A-SUB) 0.00%^(1),(6)		04/18/31		650,000		311,534
CIFC Funding, Ltd. (22-2A-INCB) 1.00%^(1),(6)		04/19/35		685,000		564,181
CIT Education Loan Trust (07-1-A) 5.22% (3 mo. USD LIBOR + 0.090%)^(1),(5)		03/25/42		379,026		366,004
COOF Securitization Trust II (15-2-A1) (I/O) 2.35%^(1),(6)		08/25/41		2,475,591		152,402
CoreVest American Finance Trust (19-1-XA) (I/O) 2.28%^(1),(6)		03/15/52		192,024		6,190
CoreVest American Finance Trust (20-1-A2) 2.30%⁽¹⁾		03/15/50		470,000		421,291
Dryden 85 CLO, Ltd. (20-85A-AR) 5.94% (3 mo. USD LIBOR + 1.150%)^(1),(5)		10/15/35		1,375,000		1,336,361
Eaton Vance CLO, Ltd. (20-1A-AR) 5.96% (3 mo. USD LIBOR + 1.170%)^(1),(5)		10/15/34		850,000		831,002
EFS Volunteer No 2 LLC (12-1-A2) 6.20% (1 mo. USD LIBOR + 1.350%)^(1),(5)		03/25/36		567,629		566,609
FirstKey Homes Trust (20-SFR1-G) 4.78%⁽¹⁾		08/17/37		1,735,000		1,595,820
FirstKey Homes Trust (21-SFR3-E1) 2.99%⁽¹⁾		12/17/38		1,173,000		1,028,321
FRTKL (21-SFR1-G) 4.11%⁽¹⁾		09/17/38		1,015,000		858,979
Global SC Finance II SRL (14-1A-A2) 3.09%⁽¹⁾		07/17/29		57,942		56,011
Goal Capital Funding Trust (06-1-B) 5.41% (3 mo. USD LIBOR + 0.450%)⁽⁵⁾		08/25/42		134,471		123,202
Harvest Commercial Capital Loan Trust (19-1-A) 3.29%^(1),(6)		09/25/46		261,141		248,154
HPS Loan Management, Ltd. (10A-16-A1RR) 5.95% (3 mo. USD LIBOR + 1.140%)^(1),(5)		04/20/34		875,000		854,631
ITE Rail Fund Levered LP (21-1A-A) 2.25%⁽¹⁾		02/28/51		378,945		326,441
J.G. Wentworth XXXVIII LLC (17-1A-A) 3.99%⁽¹⁾		08/16/60		189,827		172,957
Magnetite VII, Ltd. (12-7A-A1R2) 5.59% (3 mo. USD LIBOR + 0.800%)^(1),(5)		01/15/28		314,142		311,551
Mosaic Solar Loan Trust (21-1A-R) 0.00%^(1),(7)		12/20/46		817,503		107,762
Mosaic Solar Loan Trust (21-2A-R) 0.00%^(1),(7)		04/22/47		1,150,000		45,007
Mosaic Solar Loan Trust (21-3A-R) 0.00%^(1),(7)		06/20/52		1,600,000		135,454
Neuberger Berman Loan Advisers CLO, Ltd. (21-43A-A) 5.92% (3 mo. USD LIBOR + 1.130%)^(1),(5)		07/17/35		800,000		783,454
OCP CLO, Ltd. (21-21A-B) 6.51% (3 mo. USD LIBOR + 1.700%)^(1),(5)		07/20/34		400,000		384,316
Palmer Square CLO, Ltd. (18-1A-A1) 5.82% (3 mo. USD LIBOR + 1.030%)^(1),(5)		04/18/31		600,000		591,390
Park Avenue Institutional Advisers CLO, Ltd. (21-1A-A2) 6.56% (3 mo. USD LIBOR + 1.750%)^(1),(5)		01/20/34		420,000		402,818
Progress Residential Trust (21-SFR7-E2) 2.64%⁽¹⁾		08/17/40		1,451,000		1,157,176
Progress Residential Trust (21-SFR8-G) 4.01%⁽¹⁾		10/17/38		1,450,000		1,193,584
Progress Residential Trust (21-SFR9-E1) 2.81%⁽¹⁾		11/17/40		1,707,000		1,375,637
Regata XII Funding, Ltd. (19-1A-BR) 6.39% (3 mo. USD LIBOR + 1.600%)^(1),(5)		10/15/32		725,000		702,757
Rockford Tower CLO Ltd. (17-2A-BR) 6.29% (3 mo. USD LIBOR + 1.500%)^(1),(5)		10/15/29		800,000		779,248
Rockford Tower CLO, Ltd. (20-1A-D) 8.56% (3 mo. USD LIBOR + 3.750%)^(1),(5)		01/20/32		900,000		832,575
Santander Consumer Auto Receivables Trust (21-CA-R) 0.00%^(1),(3)		06/15/28		5,500		648,410
SLC Student Loan Trust (04-1-B) 5.15% (3 mo. USD LIBOR + 0.290%)⁽⁵⁾		08/15/31		188,244		164,652

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
SLC Student Loan Trust (06-1-B) 5.08% (3 mo. USD LIBOR + 0.210%)⁽⁵⁾		03/15/55	$	244,955	$	218,902
SLM Student Loan Trust (04-2-B) 5.29% (3 mo. USD LIBOR + 0.470%)⁽⁵⁾		07/25/39		212,872		198,703
SLM Student Loan Trust (05-9-B) 5.12% (3 mo. USD LIBOR + 0.300%)⁽⁵⁾		01/25/41		286,988		258,669
SLM Student Loan Trust (07-6-B) 5.67% (3 mo. USD LIBOR + 0.850%)⁽⁵⁾		04/27/43		106,227		98,549
SLM Student Loan Trust (07-7-B) 5.57% (3 mo. USD LIBOR + 0.750%)⁽⁵⁾		10/27/70		150,000		127,925
SLM Student Loan Trust (08-2-B) 6.02% (3 mo. USD LIBOR + 1.200%)⁽⁵⁾		01/25/83		225,000		198,717
SLM Student Loan Trust (08-3-B) 6.02% (3 mo. USD LIBOR + 1.200%)⁽⁵⁾		04/26/83		225,000		209,299
SLM Student Loan Trust (08-4-B) 6.67% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		04/25/73		515,000		494,447
SLM Student Loan Trust (08-5-B) 6.67% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/25/73		260,000		243,073
SLM Student Loan Trust (08-6-B) 6.67% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/26/83		225,000		208,807
SLM Student Loan Trust (08-7-B) 6.67% (3 mo. USD LIBOR + 1.850%)⁽⁵⁾		07/26/83		305,000		283,226
SLM Student Loan Trust (08-8-B) 7.07% (3 mo. USD LIBOR + 2.250%)⁽⁵⁾		10/25/75		260,000		253,353
SLM Student Loan Trust (08-9-B) 7.07% (3 mo. USD LIBOR + 2.250%)⁽⁵⁾		10/25/83		260,000		256,730
SLM Student Loan Trust (13-M1-M1R) 0.00%^(1),(3)		10/28/29		1,000		543,573
Stratus CLO, Ltd. (21-3A) 1.00%^(1),(6)		12/29/29		750,000		541,398
Structured Receivables Finance LLC (10-A-B) 7.61%⁽¹⁾		01/16/46		474,355		478,843
Structured Receivables Finance LLC (10-B-B) 7.97%⁽¹⁾		08/15/36		310,375		321,296
Student Loan Consolidation Center (02-2-B2) 1.65% (28 day Auction Rate)^(1),(5)		07/01/42		1,050,000		970,048
Textainer Marine Containers VII, Ltd. (21-2A-A) 2.23%⁽¹⁾		04/20/46		1,329,267		1,153,737
TIF Funding II LLC (21-1A-A) 1.65%⁽¹⁾		02/20/46		1,259,344		1,063,266
Tricon American Homes Trust (17-SFR2-E) 4.22%⁽¹⁾		01/17/36		1,350,000		1,324,602
Vita Scientia DAC (22-1X-D) 5.19% (3 mo. EURIBOR + 2.490%)^(5),(8)		02/27/33		1,500,000		1,351,669


Total Asset-backed Securities (Cost: $45,671,290)						43,439,300

MORTGAGE-BACKED SECURITIES—56.7%
Commercial Mortgage-backed Securities—Agency—1.2%
Fannie Mae, Pool #AN3542 3.41%		11/01/46		1,080,202		918,617
Fannie Mae (16-M11-X2) (ACES) (I/O) 3.04%⁽⁶⁾		07/25/39		758,823		15,162
Fannie Mae (19-M29-X4) (ACES) (I/O) 0.70%⁽⁶⁾		03/25/29		7,900,000		243,562
Freddie Mac Multifamily Structured Pass Through Certificates (K032-X3) (I/O) 1.67%⁽⁶⁾		10/25/41		4,020,000		12,813
Freddie Mac Multifamily Structured Pass Through Certificates (K039-X3) (I/O) 2.11%⁽⁶⁾		08/25/42		3,110,000		106,916
Freddie Mac Multifamily Structured Pass Through Certificates (K735-X3) (I/O) 2.15%⁽⁶⁾		05/25/47		3,750,000		212,230
Freddie Mac Multifamily Structured Pass Through Certificates (Q013-XPT2) (I/O) 1.81%⁽⁶⁾		05/25/27		2,844,656		78,822
Freddie Mac Multifamily Structured Pass-Through Certificates (19-P002-X) (I/O) 0.77%⁽⁶⁾		07/25/33		1,295,000		107,958
Freddie Mac Multifamily Structured Pass-Through Certificates (K031-X1) (I/O) 0.17%⁽⁶⁾		04/25/23		27,074,266		131
Freddie Mac Multifamily Structured Pass-Through Certificates (K031-X3) (I/O) 1.66%⁽⁶⁾		07/25/41		4,500,000		1,952
Freddie Mac Multifamily Structured Pass-Through Certificates (K034-X1) (I/O) 0.04%⁽⁶⁾		07/25/23		23,140,492		3,767
Freddie Mac Multifamily Structured Pass-Through Certificates (K040-X3) (I/O) 2.04%⁽⁶⁾		11/25/42		4,875,000		137,361
Freddie Mac Multifamily Structured Pass-Through Certificates (K049-X3) (I/O) 1.55%⁽⁶⁾		10/25/43		2,330,000		76,760
Freddie Mac Multifamily Structured Pass-Through Certificates (K060-X3) (I/O) 1.90%⁽⁶⁾		12/25/44		2,500,000		148,054
Freddie Mac Multifamily Structured Pass-Through Certificates (K726-X1) (I/O) 0.90%⁽⁶⁾		04/25/24		9,774,004		61,323
Freddie Mac Multifamily Structured Pass-Through Certificates (K728-X3) (I/O) 1.96%⁽⁶⁾		11/25/45		3,455,000		106,816
Freddie Mac Multifamily Structured Pass-Through Certificates (K732-X3) (I/O) 2.17%⁽⁶⁾		05/25/46		2,400,000		106,705
Freddie Mac Multifamily Structured Pass-Through Certificates (KC05-X1) (I/O) 1.21%⁽⁶⁾		06/25/27		7,705,734		230,964
Freddie Mac Multifamily Structured Pass-Through Certificates (KIR1-X) (I/O) 1.04%⁽⁶⁾		03/25/26		8,169,240		211,928
Freddie Mac Multifamily Structured Pass-Through Certificates (KW01-X3) (I/O) 4.10%⁽⁶⁾		03/25/29		690,000		65,891
Freddie Mac Multifamily Structured Pass-Through Certificates (Q010-XPT2) (I/O) 0.36%		08/25/24		1,412,707		4,403
Ginnie Mae (12-139-IO) (I/O) 0.55%⁽⁶⁾		02/16/53		1,128,754		17,453
Ginnie Mae (13-52-IO) (I/O) 0.06%⁽⁶⁾		02/16/55		6,361,617		6,531
Ginnie Mae (09-114-IO) (I/O) 0.02%⁽⁶⁾		10/16/49		4,964,927		143
Ginnie Mae (10-148-IO) (I/O) 0.29%⁽⁶⁾		09/16/50		4,982,089		48,943

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Ginnie Mae (11-105-IO) (I/O) 0.00%⁽⁶⁾		09/16/51	$	3,652,444	$	4
Ginnie Mae (11-152-IO) (I/O) 0.00%⁽⁶⁾		08/16/51		1,224,431		1
Ginnie Mae (12-4-IO) (I/O) 0.00%⁽⁶⁾		05/16/52		3,433,921		34
Ginnie Mae (14-103-IO) (I/O) 0.19%⁽⁶⁾		05/16/55		2,152,623		15,503
Ginnie Mae (14-125-IO) (I/O) 0.91%⁽⁶⁾		11/16/54		1,379,921		34,172


Total Commercial Mortgage-backed Securities—Agency (Cost: $6,927,078)						2,974,919

Commercial Mortgage-backed Securities—Non-Agency—6.2%
BBCMS Mortgage Trust (20-BID-D) 9.31% (1 mo. USD LIBOR + 4.630%)^(1),(5)		10/15/37		705,000		666,371
BCRR Trust (16-FRR3-E) 6.36% (-1 mo. USD LIBOR + 18.348%)^(1),(5)		05/26/26		695,789		637,686
Benchmark Mortgage Trust (19-B14-225D) 3.29%^(1),(6)		12/15/62		535,000		367,952
Benchmark Mortgage Trust (20-IG3-BXC) 3.54%^(1),(6)		09/15/48		555,000		405,426
BX Trust (19-OC11-A) 3.20%⁽¹⁾		12/09/41		265,000		226,996
CALI Mortgage Trust (19-101C-A) 3.96%⁽¹⁾		03/10/39		495,000		434,314
Citigroup Commercial Mortgage Trust (14-GC21-XD) (I/O) 1.35%^(1),(6)		05/10/47		4,710,600		57,661
Citigroup Commercial Mortgage Trust (15-GC35-XA) (I/O) 0.72%⁽⁶⁾		11/10/48		6,335,257		93,596
Citigroup Commercial Mortgage Trust (19-PRM-X) (I/O) 1.18%^(1),(6)		05/10/36		14,000,000		181,551
COMM Mortgage Trust (12-LC4-XB) (I/O) 0.36%^(1),(6)		12/10/44		14,813,852		148
COMM Mortgage Trust (13-CR11-XA) (I/O) 0.89%⁽⁶⁾		08/10/50		8,936,849		8,532
COMM Mortgage Trust (13-CR12-XA) (I/O) 1.13%⁽⁶⁾		10/10/46		8,168,456		20,529
COMM Mortgage Trust (13-LC13-XA) (I/O) 0.95%⁽⁶⁾		08/10/46		5,410,586		5,830
COMM Mortgage Trust (14-CR18-XA) (I/O) 0.95%⁽⁶⁾		07/15/47		4,872,045		36,712
COMM Mortgage Trust (14-CR21-XA) (I/O) 0.83%⁽⁶⁾		12/10/47		15,586,713		173,404
COMM Mortgage Trust (20-CBM-XCP) (I/O) 0.60%^(1),(6)		02/10/37		5,644,863		53,036
COMM Mortgage Trust (20-CX-E) 2.68%^(1),(6)		11/10/46		370,000		224,311
CSMC Trust (20-FACT-F) 10.84% (1 mo. USD LIBOR + 6.157%)^(1),(5)		10/15/37		1,017,000		850,478
DBWF Mortgage Trust (16-85T-A) 3.79%⁽¹⁾		12/10/36		615,000		556,481
Extended Stay America Trust (21-ESH-F) 8.39% (1 mo. USD LIBOR + 3.700%)^(1),(5)		07/15/38		634,525		597,391
Frost CMBS DAC (21-1A-EUE) 6.69% (3 mo. EURIBOR + 3.990%)^(1),(5)		11/20/33		748,206		705,767
Grace Trust (20-GRCE-F) 2.68%^(1),(6)		12/10/40		376,000		214,837
Grace Trust (20-GRCE-X) (I/O) 0.30%^(1),(6)		12/10/40		10,620,000		209,904
GS Mortgage Securities Corp. Trust (20-UPTN-XA) (I/O) 0.35%^(1),(6)		02/10/37		3,150,000		17,747
GS Mortgage Securities Trust (11-GC3-X) (I/O) 0.29%^(1),(6)		03/10/44		537,158		5
GS Mortgage Securities Trust (12-GCJ7-XB) (I/O) 0.26%^(1),(6)		05/10/45		304,967		653
GS Mortgage Securities Trust (14-GC18-XB) (I/O) 0.17%⁽⁶⁾		01/10/47		66,563,000		97,472
GS Mortgage Securities Trust (16-GS2-XA) (I/O) 1.73%⁽⁶⁾		05/10/49		4,073,887		165,870
Hudson Yards Mortgage Trust (19-55HY-F) 2.94%^(1),(6)		12/10/41		150,000		95,127
ILPT Trust (19-SURF-A) 4.15%⁽¹⁾		02/11/41		240,000		223,199
JPMBB Commercial Mortgage Securities Trust (14-C24-XA) (I/O) 0.86%⁽⁶⁾		11/15/47		7,285,426		58,963
JPMBB Commercial Mortgage Securities Trust (14-C21-XA) (I/O) 0.94%⁽⁶⁾		08/15/47		1,489,612		11,731
JPMBB Commercial Mortgage Securities Trust (14-C23-XA) (I/O) 0.59%⁽⁶⁾		09/15/47		9,045,895		53,139
JPMBB Commercial Mortgage Securities Trust (15-C29-XD) (I/O) 0.50%^(1),(6)		05/15/48		26,458,000		243,365
JPMCC Commercial Mortgage Securities Trust (17-JP5-XA) (I/O) 0.82%⁽⁶⁾		03/15/50		10,239,631		243,857
JPMorgan Chase Commercial Mortgage Securities Trust (11-C3-XB) (I/O) 0.39%^(1),(6)		02/15/46		50,512,115		175,926
JPMorgan Chase Commercial Mortgage Securities Trust (13-LC11-XA) (I/O) 1.26%⁽⁶⁾		04/15/46		7,394,279		38,282
JPMorgan Chase Commercial Mortgage Securities Trust (19-OSB-A) 3.40%⁽¹⁾		06/05/39		585,000		516,293
LMREC, Inc. (19-CRE3-A) 6.20% (1 mo. USD LIBOR + 1.400%)^(1),(5)		12/22/35		330,041		328,746
Manhattan West Mortgage Trust (20-1MW-A) 2.13%⁽¹⁾		09/10/39		695,000		591,441
Med Trust (21-MDLN-G) 9.94% (1 mo. USD LIBOR + 5.250%)^(1),(5)		11/15/38		668,015		612,579
MFT Mortgage Trust (20-B6-C) 3.28%^(1),(6)		08/10/40		220,000		143,288
MFT Trust (20-ABC-C) 3.48%^(1),(6)		02/10/42		175,000		109,967
MFT Trust (20-ABC-D) 3.48%^(1),(6)		02/10/42		730,000		452,575
Morgan Stanley Bank of America Merrill Lynch Trust (15-C22-XA) (I/O) 1.00%⁽⁶⁾		04/15/48		8,192,237		110,666
Morgan Stanley Bank of America Merrill Lynch Trust (15-C24-XA) (I/O) 0.69%⁽⁶⁾		05/15/48		8,943,895		111,896
Morgan Stanley Bank of America Merrill Lynch Trust (16-C31-XA) (I/O) 1.27%⁽⁶⁾		11/15/49		6,456,371		219,613
Natixis Commercial Mortgage Securities Trust (19-FAME-D) 4.40%^(1),(6)		08/15/36		835,000		685,905
Roseville, Ltd. 3.25%⁽⁴⁾		03/29/25		605,000		601,854

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
SFAVE Commercial Mortgage Securities Trust (15-5AVE-A2A) 3.66%^(1),(6)		01/05/43	$	805,000	$	583,215
SFAVE Commercial Mortgage Securities Trust (15-5AVE-D) 4.39%^(1),(6)		01/05/43		880,000		478,828
SMRT Commercial Mortgage Trust (22-MINI-E) 7.53% (SOFR + 2.700%)^(1),(5)		01/15/39		1,005,000		908,307
UBS Commercial Mortgage Trust (17-C5-XA) (I/O) 1.07%⁽⁶⁾		11/15/50		5,718,466		202,575
WFRBS Commercial Mortgage Trust (13-C14-XA) (I/O) 0.65%⁽⁶⁾		06/15/46		5,533,344		15,916
WFRBS Commercial Mortgage Trust (13-C16-XA) (I/O) 0.56%⁽⁶⁾		09/15/46		10,053,044		5,254
WFRBS Commercial Mortgage Trust (14-C24-XA) (I/O) 0.84%⁽⁶⁾		11/15/47		5,106,051		48,643

Total Commercial Mortgage-backed Securities—Non-Agency (Cost: $22,787,197)						14,881,810

Residential Mortgage-backed Securities—Agency—19.1%
Fannie Mae (07-42-SE) (I/O) (I/F) 1.26% (-1 mo. USD LIBOR + 6.110%)⁽⁵⁾		05/25/37		40,972		3,253
Fannie Mae (07-48-SD) (I/O) (I/F) 1.25% (-1 mo. USD LIBOR + 6.100%)⁽⁵⁾		05/25/37		777,643		60,577
Fannie Mae (09-69-CS) (I/O) (I/F) 1.90% (-1 mo. USD LIBOR + 6.750%)⁽⁵⁾		09/25/39		134,036		13,578
Freddie Mac (1673-SD) (I/F) (PAC) 11.20% (-2.15 x T10Y + 19.391%)⁽⁵⁾		02/15/24		4,562		4,643
Freddie Mac (1760-ZD) 3.30% (1 x T10Y - 0.500%)⁽⁵⁾		02/15/24		9,851		9,804
Freddie Mac (3122-SG) (I/O) (I/F) (TAC) (PAC) 0.95% (-1 mo. USD LIBOR + 5.630%)⁽⁵⁾		03/15/36		1,290,584		94,755
Freddie Mac (3239-SI) (I/O) (I/F) (PAC) 1.97% (-1 mo. USD LIBOR + 6.650%)⁽⁵⁾		11/15/36		295,345		36,426
Freddie Mac (3323-SA) (I/O) (I/F) 1.43% (-1 mo. USD LIBOR + 6.110%)⁽⁵⁾		05/15/37		64,205		3,732
Freddie Mac (3459-JS) (I/O) (I/F) 1.57% (-1 mo. USD LIBOR + 6.250%)⁽⁵⁾		06/15/38		83,507		8,133
Freddie Mac (4030-HS) (I/O) (I/F) 1.93% (-1 mo. USD LIBOR + 6.610%)⁽⁵⁾		04/15/42		532,151		58,496
Ginnie Mae (06-35-SA) (I/O) (I/F) 1.84% (-1 mo. USD LIBOR + 6.600%)⁽⁵⁾		07/20/36		853,590		88,852
Ginnie Mae (06-61-SA) (I/O) (I/F) (TAC) 0.15% (-1 mo. USD LIBOR + 4.750%)⁽⁵⁾		11/20/36		1,227,321		37,574
Ginnie Mae (08-58-TS) (I/O) (I/F) (TAC) 1.64% (-1 mo. USD LIBOR + 6.400%)⁽⁵⁾		05/20/38		506,139		9,961
Ginnie Mae (16-153-IO) (I/O) 3.50%		11/20/46		1,415,735		219,819
Ginnie Mae II TBA, 30-Year
4.50%⁽⁹⁾		08/01/52		1,275,000		1,256,332
5.00%⁽⁹⁾		10/01/52		600,000		600,797
Uniform Mortgage-Backed Securities TBA, 30-Year
2.00%⁽⁹⁾		01/01/52		11,425,000		9,454,404
3.00%⁽⁹⁾		03/01/52		2,750,000		2,469,308
Uniform Mortgage-Backed Securities TBA, 30-Year
2.50%⁽⁹⁾		01/01/52		14,625,000		12,622,070
3.50%⁽⁹⁾		04/01/52		2,575,000		2,393,568
4.00%⁽⁹⁾		07/01/52		5,000,000		4,785,157
4.50%⁽⁹⁾		08/01/52		1,000,000		979,777
4.50%⁽⁹⁾		08/01/52		325,000		318,535
5.00%⁽⁹⁾		09/01/52		10,400,000		10,371,349

Total Residential Mortgage-backed Securities—Agency (Cost: $45,685,370)						45,900,900

Residential Mortgage-backed Securities—Non-Agency—30.2%
ACE Securities Corp. (04-IN1-A1) 5.49% (1 mo. USD LIBOR + 0.640%)⁽⁵⁾		05/25/34		329,826		307,567
ACE Securities Corp. (07-ASP1-A2C) 5.37% (1 mo. USD LIBOR + 0.520%)⁽⁵⁾		03/25/37		1,175,550		563,585
Adjustable Rate Mortgage Trust (05-4-6A22) 4.16%⁽⁶⁾		08/25/35		343,929		295,163
Adjustable Rate Mortgage Trust (06-1-2A1) 4.60%⁽⁶⁾		03/25/36		330,481		193,919
Ajax Mortgage Loan Trust (19-F-A2) 3.50%⁽¹⁾		07/25/59		1,300,000		1,193,488
Alternative Loan Trust (05-46CB-A20) (TAC) 5.50%⁽¹⁰⁾		10/25/35		555,607		404,058
Alternative Loan Trust (06-8T1-1A2) (I/O) 0.65% (-1 mo. USD LIBOR + 5.500%)^(4),(5)		04/25/36		4,671,333		535,363
Asset-Backed Funding Certificates (07-NC1-A2) 5.15% (1 mo. USD LIBOR + 0.300%)^(1),(5)		05/25/37		822,478		758,265
Asset-Backed Securities Corp. Home Equity (06-HE3-A5) 2.93% (1 mo. USD LIBOR + 0.540%)⁽⁵⁾		03/25/36		937,745		893,877
Asset-Backed Securities Corp. Home Equity (07-HE1-A1B) 3.95% (1 mo. USD LIBOR + 0.150%)⁽⁵⁾		12/25/36		299,685		282,075
Banc of America Alternative Loan Trust (05-10-1CB1) 5.25% (1 mo. USD LIBOR + 0.400%)⁽⁵⁾		11/25/35		322,277		267,803
Banc of America Funding Trust (06-3-4A14) 6.00%		03/25/36		145,889		117,334
Banc of America Funding Trust (06-3-5A3) 5.50%⁽¹⁰⁾		03/25/36		106,530		92,100
Banc of America Funding Trust (15-R4 2A1) 4.82% (1 mo. USD LIBOR + 0.205%)^(1),(5)		02/25/37		325,181		315,978
BCMSC Trust (00-A-A4) 8.29%⁽⁶⁾		06/15/30		3,316,690		494,313
Bear Stearns Adjustable Rate Mortgage Trust (03-7-9A) 4.24%⁽⁶⁾		10/25/33		227,231		206,234
Bear Stearns Adjustable Rate Mortgage Trust (05-9-A1) 5.23% (U.S. 1-year Treasury Constant Maturity Rate + 2.300%)⁽⁵⁾		10/25/35		106,452		99,022
Bear Stearns Adjustable Rate Mortgage Trust (07-4-22A1) 3.70%^(6),(10)		06/25/47		553,649		488,736
Bear Stearns ALT-A Trust (05-3-4A3) 3.72%⁽⁶⁾		04/25/35		250,708		244,080
Bear Stearns Asset-Backed Securities Trust (05-AC6-1A3) 5.50%⁽⁶⁾		09/25/35		346,628		311,730
Bear Stearns Asset-Backed Securities Trust (06-IM1-A1) 5.31% (1 mo. USD LIBOR + 0.460%)⁽⁵⁾		04/25/36		81,568		81,408

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Bear Stearns Mortgage Funding Trust (07-AR3-1X) (I/O) 0.50%⁽⁴⁾		03/25/37	$	25,425,404	$	630,830
C-BASS Mortgage Loan Trust (07-CB2-A2B) 3.53%⁽¹⁰⁾		02/25/37		809,252		496,465
C-BASS Mortgage Loan Trust (07-CB2-A2C) 3.53%⁽¹⁰⁾		02/25/37		795,100		483,166
Carrington Mortgage Loan Trust (06-NC4-A4) 5.09% (1 mo. USD LIBOR + 0.240%)⁽⁵⁾		10/25/36		1,250,000		1,072,591
Carrington Mortgage Loan Trust (07-RFC1-A3) 4.99% (1 mo. USD LIBOR + 0.140%)⁽⁵⁾		12/25/36		1,140,910		1,086,618
CHL Mortgage Pass-Through Trust (04-HYB4-B1) 3.95%⁽⁶⁾		09/20/34		447,473		222,341
CHL Mortgage Pass-Through Trust (06-14-X) (I/O) 0.14%^(4),(6)		09/25/36		8,110,122		34,113
CHL Mortgage Pass-Through Trust (06-HYB2-1A1) 4.18%⁽⁶⁾		04/20/36		702,241		487,077
CHNGE Mortgage Trust (23-1-M1) 8.41%^(1),(6)		03/25/58		460,000		459,452
CIM Trust (19-R1-A) 3.25%^(1),(6)		10/25/58		718,791		628,803
CIM Trust (21-NR1-A1) 2.57%⁽¹⁾		07/25/55		973,244		934,771
CIM Trust (21-NR2-A1) 2.57%⁽¹⁾		07/25/59		1,066,102		1,020,109
CIM Trust (21-NR3-A1) 2.57%⁽¹⁾		06/25/57		305,126		289,834
CIM Trust (21-NR4-A1) 2.82%⁽¹⁾		10/25/61		1,125,071		1,051,699
CIM Trust (21-R3-A1A) 1.95%^(1),(6)		06/25/57		834,980		732,759
CIM Trust (21-R4-A1A) 2.00%^(1),(6)		05/01/61		858,913		744,600
CIM Trust (21-R5-A1B) 2.00%^(1),(6)		08/25/61		1,096,000		667,902
CIM Trust (22-NR1-A1) 5.00%⁽¹⁾		07/25/62		353,875		326,404
CIM Trust (23-NR1-A1) 6.00%⁽¹⁾		06/25/62		1,306,090		1,263,837
Citigroup Mortgage Loan Trust, Inc. (05-11-A2A) 5.41% (U.S. 1-year Treasury Constant Maturity Rate + 2.400%)⁽⁵⁾		10/25/35		191,107		181,680
Citigroup Mortgage Loan Trust, Inc. (05-8-1A1A) 4.12%^(10),(6)		10/25/35		376,737		303,728
Citigroup Mortgage Loan Trust, Inc. (14-10-2A2) 4.87% (1 mo. USD LIBOR + 0.250%)^(1),(5)		07/25/37		247,532		248,672
CitiMortgage Alternative Loan Trust (06-A3-1A7) 6.00%⁽¹⁰⁾		07/25/36		608,804		532,565
CitiMortgage Alternative Loan Trust (06-A5-1A8) 6.00%⁽¹⁰⁾		10/25/36		519,156		460,740
Connecticut Avenue Securities Trust (19-R06-2B1) 8.60% (1 mo. USD LIBOR + 3.750%)^(1),(5)		09/25/39		747,214		728,146
Connecticut Avenue Securities Trust (19-R07-1B1) 8.25% (1 mo. USD LIBOR + 3.400%)^(1),(5)		10/25/39		1,000,000		984,791
Connecticut Avenue Securities Trust (21-R03-1B2) 10.06% (SOFR30A + 5.500%)^(1),(5)		12/25/41		1,000,000		885,132
Connecticut Avenue Securities Trust (22-R04-1M2) 7.66% (SOFR30A + 3.100%)^(1),(5)		03/25/42		850,000		843,625
Conseco Finance Securitizations Corp. (99-6-A1) 7.36%^(1),(6)		06/01/30		1,271,137		476,446
Conseco Financial Corp. (96-6-M1) 7.95%⁽⁶⁾		09/15/27		23,979		24,033
Countrywide Asset-Backed Certificates (07-13-2A1) 5.75% (1 mo. USD LIBOR + 0.900%)⁽⁵⁾		10/25/47		423,002		381,438
Credit Suisse First Boston Mortgage Securities Corp. (04-AR5-11A2) 5.59% (1 mo. USD LIBOR + 0.740%)⁽⁵⁾		06/25/34		9,634		9,645
Credit Suisse First Boston Mortgage Securities Corp. (05-12-1A1) 6.50%		01/25/36		950,679		244,159
Credit Suisse Mortgage Capital Certificates (06-6-1A8) 6.00%⁽¹⁰⁾		07/25/36		472,032		252,674
Credit-Based Asset Servicing and Securitization LLC (03-CB3-AF1) 3.38%		12/25/32		317,331		295,385
Credit-Based Asset Servicing and Securitization LLC (06-CB2-AF2) 3.04%		12/25/36		1,888,280		1,430,648
Credit-Based Asset Servicing and Securitization LLC (07-CB3-A3) 3.29%		03/25/37		1,171,087		448,551
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust (06-AR6-A6) 5.23% (1 mo. USD LIBOR + 0.380%)⁽⁵⁾		02/25/37		309,249		259,630
Deutsche Alt-B Securities, Inc. Mortgage Loan Trust (06-AB2-A2) 4.81%^(6),(10)		06/25/36		925,571		803,443
DSLA Mortgage Loan Trust (06-AR2-2A1A) 4.96% (1 mo. USD LIBOR + 0.200%)⁽⁵⁾		10/19/36		343,037		230,191
Federal Home Loan Mortgage Corp. (21-DNA2-M2) 6.86% (SOFR30A + 2.300%)^(1),(5)		08/25/33		525,000		516,759
Federal Home Loan Mortgage Corp. (21-DNA5-B1) 7.61% (SOFR30A + 3.050%)^(1),(5)		01/25/34		800,000		724,200
Federal Home Loan Mortgage Corp. (21-DNA6-B1) 7.96% (SOFR30A + 3.400%)^(1),(5)		10/25/41		650,000		607,897
Federal Home Loan Mortgage Corp. (21-HQA2-M2) 6.61% (SOFR30A + 2.050%)^(1),(5)		12/25/33		900,000		851,081
First Franklin Mortgage Loan Asset-Backed Certificates (06-FF13-A2C) 5.17% (1 mo. USD LIBOR + 0.320%)⁽⁵⁾		10/25/36		604,943		405,965
First Horizon Alternative Mortgage Securities Trust (05-AA10-2A1) 4.13%⁽⁶⁾		12/25/35		176,932		143,809
Greenpoint Manufactured Housing (00-1-A4) 8.14%⁽⁶⁾		03/20/30		461,102		343,647
GSAA Home Equity Trust (06-13-AF6) 6.54%		07/25/36		1,152,364		370,858
GSAMP Trust (07-NC1-A2C) 5.00% (1 mo. USD LIBOR + 0.1500%)⁽⁵⁾		12/25/46		2,330,664		1,136,485
GSC Capital Corp. Mortgage Trust (06-2-A1) 5.21% (1 mo. USD LIBOR + 0.360%)⁽⁵⁾		05/25/36		197,962		179,649
GSR Mortgage Loan Trust (05-AR3-6A1) 3.59%⁽⁶⁾		05/25/35		141,933		108,227

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
HSI Asset Loan Obligation Trust (07-2-2A12) 6.00%		09/25/37	$	340,744	$	263,698
Indymac INDX Mortgage Loan Trust (04-AR6-5A1) 3.99%⁽⁶⁾		10/25/34		266,590		248,363
Indymac INDX Mortgage Loan Trust (05-AR19-A1) 3.29%⁽⁶⁾		10/25/35		400,108		310,439
Indymac INDX Mortgage Loan Trust (06-AR13-A4X) (I/O) 0.57%^(4),(6)		07/25/36		227,386		2
Indymac INDX Mortgage Loan Trust (06-AR9-1A1) 3.31%⁽⁶⁾		06/25/36		433,517		257,930
Indymac INDX Mortgage Loan Trust (07-AR5-2A1) 3.15%⁽⁶⁾		05/25/37		646,286		507,831
Indymac INDX Mortgage Loan Trust (07-FLX2-A1C) 5.04% (1 mo. USD LIBOR + 0.190%)⁽⁵⁾		04/25/37		1,455,612		1,212,248
JPMorgan Alternative Loan Trust (06-A2-5A1) 3.59%^(10),(6)		05/25/36		353,226		208,201
JPMorgan Mortgage Acquisition Trust (06-WF1-A5) 6.91%		07/25/36		1,929,138		562,030
JPMorgan Mortgage Trust (04-A6-5A1) 3.91%⁽⁶⁾		12/25/34		181,284		160,599
JPMorgan Mortgage Trust (07-S2-1A1) 5.00%		06/25/37		146,162		68,330
JPMorgan Resecuritization Trust (15-4-2A2) 3.93%^(1),(6)		06/26/47		3,074,772		1,333,187
Lehman Mortgage Trust (06-7-2A5) (I/O) (I/F) 1.70% (-1 mo. USD LIBOR + 6.550%)^(4),(5)		11/25/36		2,889,281		358,114
Lehman XS Trust (06-10N-1A3A) 5.27% (1 mo. USD LIBOR + 0.420%)⁽⁵⁾		07/25/46		419,095		376,044
Lehman XS Trust (06-12N-A31A) 5.25% (1 mo. USD LIBOR + 0.400%)⁽⁵⁾		08/25/46		527,474		501,567
Long Beach Mortgage Loan Trust (04-4-M1) 5.75% (1 mo. USD LIBOR + 0.900%)⁽⁵⁾		10/25/34		415,627		383,886
MASTR Alternative Loan Trust (06-2-2A2) (I/O) (I/F) 2.25% (-1 mo. USD LIBOR + 7.100%)^(4),(5)		03/25/36		5,899,127		454,158
MASTR Alternative Loans Trust (07-HF1-4A1) 7.00%		10/25/47		1,060,738		522,378
MASTR Asset-Backed Securities Trust (07-HE1-A4) 5.13% (1 mo. USD LIBOR + 0.280%)⁽⁵⁾		05/25/37		2,000,000		1,542,536
Merrill Lynch Alternative Note Asset Trust (07-OAR2-A2) 5.27% (1 mo. USD LIBOR + 0.420%)⁽⁵⁾		04/25/37		623,254		509,924
Merrill Lynch First Franklin Mortgage Loan Trust (07-3-A2B) 5.11% (1 mo. USD LIBOR + 0.260%)⁽⁵⁾		06/25/37		467,819		420,203
Merrill Lynch First Franklin Mortgage Loan Trust (07-3-A2C) 5.21% (1 mo. USD LIBOR + 0.180%)⁽⁵⁾		06/25/37		955,276		868,337
Merrill Lynch Mortgage Investors Trust (06-RM2-A1A) 5.22% (1 mo. USD LIBOR + 0.370%)⁽⁵⁾		05/25/37		3,954,406		1,152,106
Merrill Lynch Mortgage-Backed Securities Trust (07-2-1A1) 7.43% (1-year Treasury Constant Maturity Rate + 2.400%)⁽⁵⁾		08/25/36		112,148		97,157
Morgan Stanley Mortgage Loan Trust (07-15AR-4A1) 3.43%⁽⁶⁾		11/25/37		243,255		219,301
New Residential Mortgage Loan Trust (22-NQM2-A2) 3.70%^(1),(6)		03/27/62		930,000		743,519
Nomura Asset Acceptance Corp. (06-AR1-1A) 4.24%⁽⁶⁾		02/25/36		116,213		85,086
Oakwood Mortgage Investors, Inc. (00-A-A4) 8.15%⁽⁶⁾		09/15/29		1,718,186		438,227
Oakwood Mortgage Investors, Inc. (00-D-A4) 7.40%⁽⁶⁾		07/15/30		683,078		168,712
Oakwood Mortgage Investors, Inc. (01-C-A3) 6.61%⁽⁶⁾		06/15/31		1,671,028		209,486
Oakwood Mortgage Investors, Inc. (01-D-A3) 5.90%^(6),(11)		09/15/22		581,303		293,596
Oakwood Mortgage Investors, Inc. (02-A-A3) 6.03%⁽⁶⁾		05/15/24		19,612		19,599
Oakwood Mortgage Investors, Inc. (99-E-A1) 7.61%⁽⁶⁾		03/15/30		586,503		371,307
PRET LLC (22-RN2-A2) 6.50%⁽¹⁾		06/25/52		1,255,000		1,155,628
Pretium Mortgage Credit Partners LLC (22-RN3-A2) 6.50%^(1),(6)		08/25/52		1,125,000		1,039,010
PRPM 2021-4 LLC (21-4-A1) 1.87%⁽¹⁾		04/25/26		1,278,338		1,222,280
PRPM LLC (21-1-A2) 6.29%⁽¹⁾		02/25/27		1,000,000		949,480
PRPM LLC (21-10-A1) 2.49%⁽¹⁾		10/25/26		940,820		872,035
PRPM LLC (21-11-A1) 2.49%⁽¹⁾		11/25/26		423,223		401,530
PRPM LLC (21-8-A1) 1.74%^(1),(6)		09/25/26		711,379		667,876
PRPM LLC (22-3-A1) 5.56%⁽¹⁾		06/25/27		1,312,488		1,294,833
PRPM LLC (22-4-A2) 5.00%⁽¹⁾		08/25/27		1,080,000		986,424
RALI Series Trust (06-QS13-1A2) (I/O) (I/F) 2.31% (-1 mo. USD LIBOR + 7.160%)^(4),(5)		09/25/36		2,138,414		217,920
RALI Series Trust (06-QS7-A2) 6.00%⁽¹⁰⁾		06/25/36		308,821		244,791
Residential Accredit Loans, Inc. (05-QA7-A1) 3.88%^(6),(10)		07/25/35		663,280		501,223
Residential Accredit Loans, Inc. (05-QA8-CB21) 4.38%^(6),(10)		07/25/35		333,124		185,013
Residential Accredit Loans, Inc. (06-QA10-A2) 5.21% (1 mo. USD LIBOR + 0.360%)⁽⁵⁾		12/25/36		390,151		306,519
Residential Accredit Loans, Inc. (06-QS1-A3) (PAC) 5.75%⁽¹⁰⁾		01/25/36		235,172		191,776
Residential Accredit Loans, Inc. (06-QS6-1AV) (I/O) 0.77%^(4),(6)		06/25/36		2,789,211		60,539
Residential Accredit Loans, Inc. (06-QS8-A3) 6.00%⁽¹⁰⁾		08/25/36		534,394		437,322
Residential Accredit Loans, Inc. (07-QS2-AV) (I/O) 0.33%^(4),(6)		01/25/37		6,565,707		69,826
Residential Accredit Loans, Inc. (07-QS3-AV) (I/O) 0.36%^(4),(6)		02/25/37		7,554,284		88,095
Residential Accredit Loans, Inc. (07-QS6-A62) (TAC) 5.50%⁽¹⁰⁾		04/25/37		164,006		127,642
Residential Asset Securitization Trust (05-A15-4A1) 6.00%		02/25/36		932,161		317,766
Residential Asset Securitization Trust (07-A5-AX) (I/O) 6.00%⁽⁴⁾		05/25/37		1,325,991		233,249
Residential Funding Mortgage Securities (06-S9-AV) (I/O) 0.35%^(4),(6)		09/25/36		16,951,259		184,718

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Saxon Asset Securities Trust (07-3-2A4) 5.34% (1 mo. USD LIBOR + 0.490%)⁽⁵⁾		09/25/47	$	2,926,000	$	2,280,667
Securitized Asset-Backed Receivables LLC Trust (06-CB1-AF2) 2.86%		01/25/36		975,120		767,061
Securitized Asset-Backed Receivables LLC Trust (07-NC2-A2C) 5.07% (1 mo. USD LIBOR + 0.220%)⁽⁵⁾		01/25/37		4,614,000		3,141,224
Structured Adjustable Rate Mortgage Loan Trust (05-20-1A1) 4.93%^(6),(10)		10/25/35		88,681		83,286
Structured Adjustable Rate Mortgage Loan Trust (07-9-2A1) 3.82%^(6),(10)		10/25/47		230,950		141,403
Structured Asset Mortgage Investments II Trust (06-AR4-5A1) 5.21% (1 mo. USD LIBOR + 0.360%)⁽⁵⁾		06/25/36		667,100		538,597
VOLT CIII LLC (21-CF1-A1) 1.99%⁽¹⁾		08/25/51		825,182		752,433
VOLT XCIX LLC (21-NPL8-A1) 2.12%⁽¹⁾		04/25/51		1,443,075		1,321,690
WAMU Asset-Backed Certificates (07-HE1-2A3) 5.00% (1 mo. USD LIBOR + 0.150%)⁽⁵⁾		01/25/37		1,578,832		713,388
Wells Fargo Alternative Loan Trust (07-PA2-2A2) (I/O) (I/F) 1.22% (-1 mo. USD LIBOR + 6.070%)^(4),(5)		06/25/37		1,383,513		76,246
Wells Fargo Mortgage-Backed Securities Trust (07-AR3-A4) 4.54%^(6),(10)		04/25/37		105,732		95,176


Total Residential Mortgage-backed Securities—Non-Agency (Cost: $81,445,002)						72,728,135


Total Mortgage-backed Securities (Cost: $156,844,647)						136,485,764


CORPORATE BONDS—34.3%

Aerospace & Defense—0.4%
Boeing Co. (The) 1.43%		02/04/24		675,000		652,556
TransDigm, Inc. 6.75%⁽¹⁾		08/15/28		350,000		353,724

						1,006,280


Agriculture—0.7%
BAT Capital Corp.
4.54%		08/15/47		135,000		100,714
5.65%		03/16/52		175,000		154,017
Imperial Brands Finance (Netherlands) 1.75%⁽⁸⁾		03/18/33		100,000		78,693
Imperial Brands Finance PLC (United Kingdom)
3.13%⁽¹⁾		07/26/24		270,000		261,544
6.13%⁽¹⁾		07/27/27		125,000		128,321
Reynolds American, Inc. 5.85%		08/15/45		975,000		879,596

						1,602,885


Airlines—0.4%
JetBlue Pass-Through Certificates (20-1A) 4.00%		05/15/34		695,301		640,574
US Airways Group, Inc. Pass-Through Certificates (10-1-A) (EETC) 6.25%		10/22/24		231,812		231,865

						872,439


Banks—10.0%
Bank of America Corp.
0.98% (SOFR + 0.690%)⁽⁵⁾		04/22/25		395,000		376,411
1.66% (SOFR + 0.910%)⁽⁵⁾		03/11/27		625,000		563,895
1.73% (SOFR + 0.960%)⁽⁵⁾		07/22/27		55,000		49,335
1.92% (SOFR + 1.37%)⁽⁵⁾		10/24/31		305,000		243,912
2.30% (SOFR + 1.220%)⁽⁵⁾		07/21/32		655,000		528,198
2.55% (SOFR + 1.050%SOFR + 1.050%SOFR + 1.050%)⁽⁵⁾		02/04/28		120,000		109,391
3.19% (3 mo. USD LIBOR + 1.180%)⁽⁵⁾		07/23/30		510,000		453,528
3.42% (3mo. USD LIBOR + 1.04%)⁽⁵⁾		12/20/28		395,000		367,528
4.38% (U.S. 5-year Treasury Constant Maturity Rate + 2.760%)^(5),(12)		01/27/27		140,000		119,542
Citigroup, Inc.
1.46% (SOFR+ 0.770%)⁽⁵⁾		06/09/27		430,000		382,296
2.52% (SOFR + 1.177%)⁽⁵⁾		11/03/32		375,000		306,151
2.57% (SOFR + 2.107%)⁽⁵⁾		06/03/31		455,000		384,153
2.67% (SOFR + 1.146%)⁽⁵⁾		01/29/31		140,000		119,841
2.98% (SOFR + 1.422%)⁽⁵⁾		11/05/30		145,000		127,177
3.06% (SOFR + 1.35%)⁽⁵⁾		01/25/33		990,000		842,252
3.07% (SOFR + 1.280%)⁽⁵⁾		02/24/28		135,000		125,713
Comerica, Inc. 5.63% (U.S. 5-year Treasury Constant Maturity Rate + 5.291%)^(5),(12)		07/01/25		395,000		332,116
Credit Suisse Group AG (Switzerland)
1.31% (SOFR + 0.980%)^(1),(5)		02/02/27		190,000		161,500
3.09% (SOFR + 1.730%)^(1),(5)		05/14/32		500,000		402,400
4.19% (SOFR + 3.730%)^(1),(5)		04/01/31		1,210,000		1,077,263
6.37% (SOFR + 3.340%)^(1),(5)		07/15/26		95,000		92,649
6.54% (SOFR + 3.920%)^(1),(5)		08/12/33		1,450,000		1,486,250
Goldman Sachs Group, Inc. (The)
0.93% (SOFR + 0.486%)⁽⁵⁾		10/21/24		285,000		277,377
1.22%		12/06/23		700,000		680,477
1.43% (SOFR + 0.798%)⁽⁵⁾		03/09/27		705,000		630,637
1.54% (SOFR + 0.818%)⁽⁵⁾		09/10/27		645,000		568,039
2.38% (SOFR + 1.248%)⁽⁵⁾		07/21/32		205,000		167,169
2.65% (SOFR + 1.264%)⁽⁵⁾		10/21/32		640,000		529,244

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
HSBC Holdings PLC (United Kingdom)
1.59% (SOFR + 1.290%)⁽⁵⁾		05/24/27	$	285,000	$	251,484
2.10% (SOFR + 1.929%)⁽⁵⁾		06/04/26		430,000		395,196
2.21% (SOFR + 1.285%)⁽⁵⁾		08/17/29		1,075,000		906,257
2.36% (SOFR + 1.947%)⁽⁵⁾		08/18/31		255,000		205,902
6.33%		03/09/44		75,000		79,348
JPMorgan Chase & Co.
1.04% (SOFR + 0.695%)⁽⁵⁾		02/04/27		1,000,000		892,860
1.58% (SOFR + 0.885%)⁽⁵⁾		04/22/27		425,000		382,003
2.07% (SOFR + 1.015%)⁽⁵⁾		06/01/29		110,000		94,993
2.55% (SOFR + 1.180%)⁽⁵⁾		11/08/32		425,000		353,226
2.58% (SOFR + 1.250%)⁽⁵⁾		04/22/32		355,000		299,233
2.95% (SOFR + 1.170%)⁽⁵⁾		02/24/28		175,000		162,626
3.56% (3 mo. USD LIBOR + 0.730%)⁽⁵⁾		04/23/24		385,000		384,568
Lloyds Banking Group PLC (United Kingdom)
3.57% (3 mo. USD LIBOR + 1.205%)⁽⁵⁾		11/07/28		200,000		183,252
4.98% (1-year Treasury Constant Maturity Rate + 2.300%)⁽⁵⁾		08/11/33		300,000		290,063
Macquarie Group, Ltd. (Australia)
2.69% (SOFR + 1.440%)^(1),(5)		06/23/32		160,000		128,158
2.87% (SOFR + 1.532%)^(1),(5)		01/14/33		555,000		450,019
5.03% (3 mo. USD LIBOR + 1.750%)^(1),(5)		01/15/30		215,000		211,435
Morgan Stanley
0.73% (SOFR + 0.616%)⁽⁵⁾		04/05/24		425,000		424,789
1.16% (SOFR + 0.560%)⁽⁵⁾		10/21/25		920,000		859,666
1.93% (SOFR + 1.020%)⁽⁵⁾		04/28/32		400,000		316,966
2.24% (SOFR + 1.178%)⁽⁵⁾		07/21/32		150,000		121,033
2.48% (SOFR + 1.360%)⁽⁵⁾		09/16/36		190,000		143,741
2.70% (SOFR + 1.143%)⁽⁵⁾		01/22/31		450,000		387,670
NatWest Group PLC (United Kingdom) 4.27% (3 mo. USD LIBOR + 1.762%)⁽⁵⁾		03/22/25		180,000		176,463
PNC Financial Services Group, Inc. 5.07% (SOFR + 1.933%)⁽⁵⁾		01/24/34		245,000		242,097
Santander UK Group Holdings PLC (United Kingdom)
1.09% (SOFR + 0.787%)⁽⁵⁾		03/15/25		565,000		534,281
1.53% (1-year Treasury Constant Maturity Rate + 1.250%)⁽⁵⁾		08/21/26		55,000		49,116
1.67% (SOFR + 0.989%)⁽⁵⁾		06/14/27		55,000		47,929
4.80% (3 mo. USD LIBOR + 1.570%)⁽⁵⁾		11/15/24		475,000		468,533
US Bancorp
3.70% (U.S. 5-year Treasury Constant Maturity Rate + 2.541%)^(5),(12)		01/15/27		130,000		101,497
4.84% (SOFR + 1.600%)⁽⁵⁾		02/01/34		565,000		548,406
5.85% (SOFR + 2.090%)⁽⁵⁾		10/21/33		115,000		120,399
Wells Fargo & Co.
2.39% (SOFR+ 2.100%)⁽⁵⁾		06/02/28		1,090,000		982,229
3.35% (SOFR + 1.500%)⁽⁵⁾		03/02/33		1,320,000		1,145,839
3.53% (SOFR + 1.510%)⁽⁵⁾		03/24/28		285,000		269,214

						24,114,935


Beverages—0.2%
Bacardi, Ltd. 5.30%⁽¹⁾		05/15/48		205,000		191,752
Triton Water Holdings, Inc. 6.25%⁽¹⁾		04/01/29		350,000		278,586

						470,338


Biotechnology—0.4%
Amgen, Inc.
4.88%		03/01/53		135,000		126,729
5.60%		03/02/43		245,000		252,943
5.65%		03/02/53		245,000		255,175
Grifols Escrow Issuer SA 4.75%⁽¹⁾		10/15/28		425,000		348,946

						983,793


Chemicals—0.5%
ASP Unifrax Holdings, Inc. 5.25%⁽¹⁾		09/30/28		280,000		224,084
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV 4.75%⁽¹⁾		06/15/27		135,000		128,952
International Flavors & Fragrances, Inc. 2.30%⁽¹⁾		11/01/30		595,000		477,923
SK Invictus Intermediate II Sarl 5.00%⁽¹⁾		10/30/29		285,000		236,926
Valvoline, Inc. 3.63%⁽¹⁾		06/15/31		150,000		127,544

						1,195,429


Commercial Services—0.6%
Adtalem Global Education, Inc. 5.50%⁽¹⁾		03/01/28		141,000		133,867
Global Payments, Inc.
5.40%		08/15/32		105,000		102,910
5.95%		08/15/52		179,000		171,231
HealthEquity, Inc. 4.50%⁽¹⁾		10/01/29		265,000		237,321
Hertz Corp. (The)
4.63%⁽¹⁾		12/01/26		25,000		22,763
5.00%⁽¹⁾		12/01/29		405,000		337,454
Upbound Group, Inc. 6.38%⁽¹⁾		02/15/29		270,000		227,475
WASH Multifamily Acquisition, Inc. 5.75%⁽¹⁾		04/15/26		260,000		246,256

						1,479,277

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Computers—0.1%
NCR Corp.
5.13%⁽¹⁾		04/15/29	$	315,000	$	273,745
5.25%⁽¹⁾		10/01/30		80,000		65,382

						339,127


Cosmetics/Personal Care—0.1%
Edgewell Personal Care Co. 5.50%⁽¹⁾		06/01/28		133,000		128,080


Diversified Financial Services—1.0%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland)
3.30%		01/30/32		590,000		487,582
3.88%		01/23/28		130,000		120,500
Air Lease Corp. 3.63%		12/01/27		120,000		110,157
American Express Co. 3.55% (U.S. 5-year Treasury Constant Maturity Rate + 2.854%)^(5),(12)		09/15/26		145,000		121,256
Avolon Holdings Funding, Ltd.
2.53%⁽¹⁾		11/18/27		406,000		343,915
2.88%⁽¹⁾		02/15/25		305,000		285,947
3.95%⁽¹⁾		07/01/24		85,000		82,683
Capital One Financial Corp. 3.27% (SOFR + 1.790%)⁽⁵⁾		03/01/30		375,000		323,640
Charles Schwab Corp. (The) 5.00% (U.S. 5-year Treasury Constant Maturity Rate + 3.256%)^(5),(12)		06/01/27		135,000		114,750
Jane Street Group / JSG Finance, Inc. 4.50%⁽¹⁾		11/15/29		435,000		390,534
Park Aerospace Holdings, Ltd. 5.50%⁽¹⁾		02/15/24		132,000		130,826

						2,511,790


Electric—1.2%
Alliant Energy Finance LLC 3.60%⁽¹⁾		03/01/32		535,000		476,819
Arizona Public Service Co. 3.35%		05/15/50		1,000,000		710,260
Duke Energy Corp. 3.85%		06/15/34		330,000		336,633
FirstEnergy Corp. 3.40%		03/01/50		450,000		309,209
FirstEnergy Transmission LLC 4.35%⁽¹⁾		01/15/25		750,000		738,827
Pike Corp. 5.50%⁽¹⁾		09/01/28		225,000		197,114
TenneT Holding BV
4.50%⁽⁸⁾		10/28/34		100,000		116,811
4.75%⁽⁸⁾		10/28/42		110,000		129,647

						3,015,320


Electrical Components & Equipment—0.1%
Energizer Holdings, Inc. 4.38%⁽¹⁾		03/31/29		265,000		233,531


Engineering & Construction—0.2%
Artera Services LLC 9.03%⁽¹⁾		12/04/25		254,000		219,913
Cellnex Finance Co. SA 2.00%⁽⁸⁾		09/15/32		100,000		84,459
Heathrow Funding Ltd. 1.88%⁽⁸⁾		03/14/36		150,000		128,467

						432,839


Entertainment—0.9%
Cinemark USA, Inc. 5.25%⁽¹⁾		07/15/28		300,000		262,575
Everi Holdings, Inc. 5.00%⁽¹⁾		07/15/29		275,000		247,500
Penn Entertainment, Inc.
4.13%⁽¹⁾		07/01/29		300,000		250,752
5.63%⁽¹⁾		01/15/27		165,000		155,122
WarnerMedia Holdings, Inc.
4.28%⁽¹⁾		03/15/32		5,000		4,464
5.05%⁽¹⁾		03/15/42		630,000		527,512
5.14%⁽¹⁾		03/15/52		756,000		614,220

						2,062,145


Environmental Control—0.2%
Waste Pro USA, Inc. 5.50%⁽¹⁾		02/15/26		425,000		391,292


Food—1.0%
H-Food Holdings LLC / Hearthside Finance Co., Inc. 8.50%⁽¹⁾		06/01/26		194,000		120,251
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.
3.75%⁽¹⁾		12/01/31		650,000		538,947
5.50%⁽¹⁾		01/15/30		25,000		23,888
6.50%⁽¹⁾		12/01/52		180,000		172,762
Kraft Heinz Foods Co.
5.00%		06/04/42		303,000		290,866
6.38%		07/15/28		210,000		223,582
Pilgrim’s Pride Corp.
4.25%		04/15/31		285,000		249,272
5.88%⁽¹⁾		09/30/27		250,000		248,638
Post Holdings, Inc. 4.63%⁽¹⁾		04/15/30		270,000		242,231
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed 4.63%⁽¹⁾		03/01/29		300,000		243,909

						2,354,346


Gas—0.3%
Southern Co. Gas Capital Corp. 3.88%		11/15/25		640,000		623,263


Health Care-Products—0.2%
DENTSPLY SIRONA, Inc. 3.25%		06/01/30		295,000		260,932
Embecta Corp. 5.00%⁽¹⁾		02/15/30		400,000		344,636

						605,568


Health Care-Services—2.0%
Cano Health LLC 6.25%⁽¹⁾		10/01/28		160,000		88,400
Catalent Pharma Solutions, Inc. 3.50%⁽¹⁾		04/01/30		450,000		395,879
Centene Corp.
2.45%		07/15/28		635,000		552,755
3.00%		10/15/30		248,000		209,059
4.25%		12/15/27		205,000		197,714

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
CommonSpirit Health 2.78%		10/01/30	$	135,000	$	115,329
Encompass Health Corp. 4.63%		04/01/31		285,000		249,210
HCA, Inc.
3.50%		07/15/51		154,000		106,277
3.63%⁽¹⁾		03/15/32		180,000		158,450
4.13%		06/15/29		208,000		195,483
4.63%⁽¹⁾		03/15/52		105,000		87,333
5.25%		06/15/49		312,000		281,839
5.25%		06/15/26		250,000		250,415
5.38%		09/01/26		65,000		65,437
5.50%		06/15/47		205,000		194,481
5.63%		09/01/28		100,000		100,940
7.05%		12/01/27		235,000		249,276
Humana, Inc. 4.95%		10/01/44		125,000		116,791
ModivCare, Inc. 5.88%⁽¹⁾		11/15/25		130,000		124,805
Molina Healthcare, Inc.
3.88%⁽¹⁾		11/15/30		520,000		454,827
3.88%⁽¹⁾		05/15/32		175,000		148,853
Tenet Healthcare Corp.
4.25%		06/01/29		275,000		249,043
4.88%		01/01/26		260,000		255,156

						4,847,752


Housewares—0.1%
Newell Brands, Inc. 6.00%		04/01/46		300,000		245,559


Insurance—1.6%
Acrisure LLC / Acrisure Finance, Inc.
4.25%⁽¹⁾		02/15/29		280,000		239,226
6.00%⁽¹⁾		08/01/29		160,000		133,200
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 6.75%⁽¹⁾		10/15/27		250,000		232,812
AssuredPartners, Inc. 5.63%⁽¹⁾		01/15/29		150,000		129,800
Athene Global Funding
1.61%⁽¹⁾		06/29/26		285,000		247,879
1.99%⁽¹⁾		08/19/28		425,000		345,028
3.21%⁽¹⁾		03/08/27		135,000		124,227
Brown & Brown, Inc. 4.95%		03/17/52		200,000		169,720
Farmers Exchange Capital 7.05%⁽¹⁾		07/15/28		500,000		521,978
Farmers Insurance Exchange 4.75% (3 mo. USD LIBOR + 3.231%)^(1),(5)		11/01/57		5,000		3,923
HUB International, Ltd. 7.00%⁽¹⁾		05/01/26		125,000		123,438
Nationwide Mutual Insurance Co. 7.16% (3 mo. USD LIBOR + 2.290%)^(1),(5)		12/15/24		1,000,000		996,165
Teachers Insurance & Annuity Association of America 4.38% (3 mo. USD LIBOR + 2.661%)^(1),(5)		09/15/54		675,000		657,935

						3,925,331


Internet—0.4%
Cogent Communications Group, Inc. 7.00%⁽¹⁾		06/15/27		125,000		124,078
Meta Platforms, Inc. 4.45%		08/15/52		140,000		123,417
Netflix, Inc. 5.88%		02/15/25		485,000		495,427
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc. 4.75%⁽¹⁾		04/30/27		135,000		115,425
Tencent Holdings, Ltd. 3.68%⁽¹⁾		04/22/41		285,000		218,159

Total Internet (Cost: $1,185,813)						1,076,506


Machinery-Diversified—0.2%
OT Merger Corp. 7.88%⁽¹⁾		10/15/29		575,000		346,340
Titan Acquisition, Ltd. / Titan Co-Borrower LLC 7.75%⁽¹⁾		04/15/26		140,000		117,600

						463,940


Media — 1.4%
Cable One, Inc. 4.00%⁽¹⁾		11/15/30		415,000		340,300
CCO Holdings LLC / CCO Holdings Capital Corp.
4.25%⁽¹⁾		02/01/31		275,000		225,500
4.50%⁽¹⁾		06/01/33		300,000		239,619
Charter Communications Operating LLC / Charter Communications Operating Capital
2.30%		02/01/32		165,000		125,855
4.80%		03/01/50		65,000		49,483
5.25%		04/01/53		355,000		288,085
5.38%		05/01/47		125,000		102,868
5.75%		04/01/48		360,000		314,478
CSC Holdings LLC
5.38%⁽¹⁾		02/01/28		50,000		41,010
6.50%⁽¹⁾		02/01/29		372,000		309,287
7.50%⁽¹⁾		04/01/28		150,000		95,760
Diamond Sports Group LLC / Diamond Sports Finance Co. 5.38%^(1),(13)		08/15/26		522,000		29,363
DirecTV Financing LLC / DirecTV Financing Co-Obligor Inc. 5.88%⁽¹⁾		08/15/27		225,000		203,999
Gray Escrow II, Inc. 5.38%⁽¹⁾		11/15/31		140,000		92,184
Scripps Escrow, Inc. 5.88%⁽¹⁾		07/15/27		265,000		197,839
Sirius XM Radio, Inc. 3.88%⁽¹⁾		09/01/31		310,000		241,330
Time Warner Cable LLC 5.50%		09/01/41		120,000		103,802
VZ Secured Financing BV 5.00%⁽¹⁾		01/15/32		400,000		326,752

						3,327,514


Metal Fabricate & Hardware—0.1%
Advanced Drainage Systems, Inc. 6.38%⁽¹⁾		06/15/30		125,000		122,626


Miscellaneous Manufacturers—0.8%
General Electric Co. 5.34% (3 mo. USD LIBOR + 0.480%)⁽⁵⁾		08/15/36		2,400,000		2,026,799


Oil & Gas—0.6%
KazMunayGas National Co. JSC 3.50%⁽⁸⁾		04/14/33		200,000		150,468
Occidental Petroleum Corp. 0.00%⁽⁷⁾		10/10/36		513,000		265,478

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
Petroleos Mexicanos
6.35%		02/12/48	$	34,000	$	21,217
6.75%		09/21/47		75,000		48,811
6.95%		01/28/60		130,000		84,110
7.69%		01/23/50		486,000		343,329
Sunoco LP / Sunoco Finance Corp.
4.50%		05/15/29		283,000		260,504
4.50%		04/30/30		86,000		77,873
Transocean Poseidon, Ltd. 6.88%⁽¹⁾		02/01/27		255,125		250,329

						1,502,119


Oil & Gas Services—0.1%
Archrock Partners LP / Archrock Partners Finance Corp. 6.25%⁽¹⁾		04/01/28		140,000		135,100


Packaging & Containers—0.8%
Amcor Finance USA, Inc. 3.63%		04/28/26		400,000		386,808
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
5.25%⁽¹⁾		08/15/27		300,000		236,814
5.25%⁽¹⁾		08/15/27		50,000		39,471
Ball Corp.
4.00%		11/15/23		90,000		89,100
6.88%		03/15/28		240,000		249,000
Berry Global, Inc.
1.57%		01/15/26		335,000		304,548
1.65%		01/15/27		140,000		122,700
4.88%⁽¹⁾		07/15/26		85,000		82,935
5.50%⁽¹⁾		04/15/28		95,000		94,761
Graphic Packaging International LLC 4.75%⁽¹⁾		07/15/27		130,000		124,313
Trivium Packaging Finance BV (Netherlands) 5.50%⁽¹⁾		08/15/26		250,000		239,802

						1,970,252


Pharmaceuticals—1.0%
1375209 BC, Ltd. 9.00%⁽¹⁾		01/30/28		240,000		238,200
180 Medical, Inc. 3.88%⁽¹⁾		10/15/29		275,000		244,063
Bayer US Finance II LLC
4.63%⁽¹⁾		06/25/38		515,000		471,920
4.88%⁽¹⁾		06/25/48		285,000		255,897
CVS Health Corp. 5.05%		03/25/48		560,000		524,602
Option Care Health, Inc. 4.38%⁽¹⁾		10/31/29		275,000		244,838
Prestige Brands, Inc. 3.75%⁽¹⁾		04/01/31		445,000		377,578

						2,357,098


Pipelines—1.4%
Energy Transfer LP
5.15%		03/15/45		325,000		282,020
5.40%		10/01/47		566,000		504,815
6.63% (3 mo. USD LIBOR + 4.155%)^(5),(12)		02/15/28		634,000		474,596
Global Partners LP / GLP Finance Corp. 6.88%		01/15/29		275,000		255,929
NGL Energy Operating LLC / NGL Energy Finance Corp. 7.50%⁽¹⁾		02/01/26		145,000		140,106
Plains All American Pipeline LP / PAA Finance Corp. 3.80%		09/15/30		500,000		446,051
Rockies Express Pipeline LLC
4.80%⁽¹⁾		05/15/30		125,000		110,000
4.95%⁽¹⁾		07/15/29		425,000		381,246
Sabine Pass Liquefaction LLC 4.50%		05/15/30		125,000		120,636
TransMontaigne Partners LP / TLP Finance Corp. 6.13%		02/15/26		265,000		229,495
Venture Global Calcasieu Pass LLC 3.88%⁽¹⁾		08/15/29		425,000		383,558

						3,328,452


Real Estate—0.1%
Blackstone Property Partners Europe Holdings Sarl 1.00%⁽⁸⁾		05/04/28		150,000		121,856
China Aoyuan Group Ltd 6.35%^(4),(8),(13)		02/08/24		400,000		38,102
Sunac China Holdings Ltd. 6.50%^(4),(8),(13)		01/10/25		200,000		48,328
Vonovia SE 1.50%⁽⁸⁾		06/14/41		100,000		57,141
Zhenro Properties Group Ltd. 6.63%^(4),(8),(13)		01/07/26		200,000		16,083

Total Real Estate (Cost: $561,274)						281,510

REIT—2.0%
American Assets Trust LP 3.38%		02/01/31		275,000		221,064
American Tower Corp.
0.88%		05/21/29		150,000		131,287
1.00%		01/15/32		150,000		120,585
2.70%		04/15/31		195,000		163,670
CapitaLand Ascendas 0.75%⁽⁸⁾		06/23/28		115,000		99,311
CubeSmart LP 2.50%		02/15/32		210,000		169,310
Digital Intrepid Holding BV 0.63%⁽⁸⁾		07/15/31		165,000		123,621
Extra Space Storage LP 2.55%		06/01/31		320,000		260,122
GLP Capital LP / GLP Financing II, Inc.
5.30%		01/15/29		210,000		200,088
5.38%		04/15/26		421,000		408,961
5.75%		06/01/28		345,000		336,967
Healthcare Realty Holdings LP
2.00%		03/15/31		170,000		132,852
2.05%		03/15/31		22,000		16,733
2.40%		03/15/30		205,000		164,156
3.10%		02/15/30		245,000		212,378
Hudson Pacific Properties LP
3.95%		11/01/27		275,000		188,998
5.95%		02/15/28		55,000		42,560
Invitation Homes Operating Partnership LP
2.00%		08/15/31		210,000		161,452
2.70%		01/15/34		135,000		103,847
Iron Mountain Information Management Services, Inc. 5.00%⁽¹⁾		07/15/32		420,000		362,250
Life Storage LP 2.40%		10/15/31		40,000		32,400
LXP Industrial Trust 2.70%		09/15/30		275,000		223,715
Prologis Euro Finance LLC
0.63%		09/10/31		165,000		129,409
4.25%		01/31/43		105,000		102,863
VICI Properties LP
5.13%		05/15/32		340,000		322,310
5.63%		05/15/52		79,000		71,228

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Issues	Maturity Date		Principal Amount		Value
VICI Properties LP / VICI Note Co., Inc.
3.75%⁽¹⁾		02/15/27	$	15,000	$	13,860
3.88%⁽¹⁾		02/15/29		140,000		124,620
4.13%⁽¹⁾		08/15/30		42,000		36,907
4.50%⁽¹⁾		09/01/26		80,000		76,555
4.50%⁽¹⁾		01/15/28		48,000		44,513
4.63%⁽¹⁾		06/15/25		20,000		19,348
5.75%⁽¹⁾		02/01/27		60,000		59,131

						4,877,071


Retail—0.5%
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. 6.75%⁽¹⁾		01/15/30		450,000		370,364
FirstCash, Inc. 5.63%⁽¹⁾		01/01/30		280,000		258,675
Michaels Cos, Inc. (The) 7.88%⁽¹⁾		05/01/29		590,000		413,558
Papa John’s International, Inc. 3.88%⁽¹⁾		09/15/29		285,000		245,291

						1,287,888


Savings & Loans—0.2%
Nationwide Building Society (United Kingdom)
2.97% (SOFR + 1.290%)^(1),(5)		02/16/28		250,000		227,502
4.36% (3 mo. USD LIBOR + 1.392%)^(1),(5)		08/01/24		150,000		148,770

Total Savings & Loans (Cost: $407,427)						376,272


Semiconductors—0.1%
Broadcom, Inc. 2.60%⁽¹⁾		02/15/33		161,000		126,388


Software—0.4%
Open Text Corp. 6.90%⁽¹⁾		12/01/27		120,000		123,750
Oracle Corp.
2.88%		03/25/31		60,000		51,366
3.80%		11/15/37		80,000		66,482
3.95%		03/25/51		875,000		658,411
6.90%		11/09/52		120,000		134,761

						1,034,770


Telecommunications—2.0%
AT&T, Inc.
4.85%		03/01/39		348,000		327,005
5.25%		03/01/37		170,000		170,228
Frontier Communications Holdings LLC
5.00%⁽¹⁾		05/01/28		350,000		304,178
6.75%⁽¹⁾		05/01/29		150,000		119,021
8.63%⁽¹⁾		03/15/31		96,000		94,079
Global Switch Finance BV 1.38%⁽⁸⁾		10/07/30		315,000		281,352
Intelsat Jackson Holding S. A. (Escrow)
8.50%^(1),(4)		10/15/24		535,000		—
9.75%^(1),(4)		07/15/25		621,000		—
Intelsat Jackson Holdings S. A. 6.50%^(1),(2)		03/15/30		397,000		365,526
Level 3 Financing, Inc. 4.63%⁽¹⁾		09/15/27		176,000		105,978
Qwest Corp. 7.25%		09/15/25		250,000		232,500
SES GLOBAL Americas Holdings, Inc. 5.30%⁽¹⁾		03/25/44		675,000		531,642
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC (21-3A-SUB) 4.74%⁽¹⁾		09/20/29		872,500		866,205
T-Mobile USA, Inc.
2.55%		02/15/31		140,000		118,722
2.63%		04/15/26		489,000		458,149
3.88%		04/15/30		235,000		220,689
4.75%		02/01/28		186,000		184,208
Vodafone Group PLC (United Kingdom) 4.88%		06/19/49		529,000		478,355

						4,857,837

Total Corporate Bonds (Cost: $89,607,090)						82,593,461


MUNICIPAL BONDS—0.7%
Alabama Economic Settlement Authority, Revenue Bond 4.26%		09/15/32		705,000		677,019
Metropolitan Transportation Authority, Revenue Bonds 5.18%		11/15/49		55,000		49,455
New York State Dormitory Authority, Revenue Bond 5.29%		03/15/33		1,000,000		1,024,967

Total Municipal Bonds (Cost: $1,943,650)						1,751,441


FOREIGN GOVERNMENT BONDS—0.7%
Brazilian Government International Bond 3.88%		06/12/30		200,000		179,233
Colombia Government International Bond
3.00%		01/30/30		50,000		39,338
8.00%		04/20/33		200,000		205,197
Dominican Republic International Bond 4.50%⁽¹⁾		01/30/30		200,000		174,880
Egypt Government International Bond 5.25%⁽⁸⁾		10/06/25		200,000		159,180
Hungary Government International Bond 2.13%⁽¹⁾		09/22/31		200,000		154,620
Oman Government International Bond 5.63%⁽⁸⁾		01/17/28		200,000		200,304
Panama Government International Bond 2.25%		09/29/32		200,000		153,840
South Africa Government Bond 4.88%		04/14/26		350,000		339,062

Total Foreign Government Bonds (Cost: $1,733,003)						1,605,654


U.S. TREASURY SECURITIES—1.0%
U.S. Treasury Inflation-Indexed Note 1.63%		10/15/27		1,766,549		1,801,701
U.S. Treasury Note 3.63%		03/31/28		577,000		578,059

Total U.S. Treasury Securities (Cost: $2,373,711)						2,379,760

Total Fixed Income Securities (Cost: $298,173,391)						268,255,380


COMMON STOCK—6.5%


Security			Shares
Agriculture—0.5%
Altria Group, Inc.				12,670		565,335
British American Tobacco PLC (SP ADR) (United Kingdom)				15,706		551,595

						1,116,930

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


Security	Shares		Value
Banks—1.7%
Bank of America Corp.		41,077	$	1,174,802
Comerica, Inc.		5,192		225,437
JPMorgan Chase & Co.		9,423		1,227,911
PNC Financial Services Group, Inc.		2,795		355,245
US Bancorp		10,043		362,050
Wells Fargo & Co.		19,525		729,844

				4,075,289

Diversified Financial Services—0.1%
Raymond James Financial, Inc.		2,712		252,948


Oil & Gas—0.5%
Sunoco LP		26,257		1,152,420


Oil & Gas Services—0.7%
USA Compression Partners LP		79,823		1,686,660


Pipelines—0.9%
Energy Transfer LP		103,400		1,289,398
Enterprise Products Partners LP		38,393		994,379

Total Pipelines (Cost: $1,614,723)				2,283,777


REIT—1.3%
AGNC Investment Corp.		144,641		1,457,981
Annaly Capital Management, Inc.		41,441		791,937
Redwood Trust, Inc.		61,963		417,631
Rithm Capital Corp.		55,339		442,712
				3,110,261

Telecommunications—0.8%
AT&T, Inc.		54,617		1,051,377
Intelsat S.A.^(4),(14)		11,069		287,794
Verizon Communications, Inc.		15,224		592,062
				1,931,233

Total Common Stock (Cost: $15,867,099)				15,609,518


RIGHTS—0.0%
Telecommunications—0.0%
Intelsat S.A.^(4),(14)		1,158		—
Intelsat S.A.^(4),(14)		1,158		—

Total Rights (Cost: $—)				—

MONEY MARKET INVESTMENTS—1.5%
State Street Institutional US Government Money Market Fund, 4.70%⁽¹⁵⁾		3,679,544		3,679,544

Total Money Market Investments (Cost: $3,679,544)				3,679,544


Total Investments (119.4%) (Cost: $317,720,034)				287,544,442
Liabilities In Excess Of Other Assets (-19.4%)				(46,807,708	)


Net Assets (100.0%)			$	240,736,734

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)

FUTURES CONTRACTS


Number of Contracts	Type	Expiration Date		Notional Contract Value			Value			Net Unrealized Appreciation (Depreciation)
Long Futures
302	5-Year U.S. Treasury Note Futures		06/30/23	$	32,421,514		$	33,071,360		$	649,846
234	2-Year U.S. Treasury Note Futures		06/30/23		47,652,290			48,310,031			657,741

				$	80,073,804		$	81,381,391		$	1,307,587

Short Futures
294	10-Year U.S. Treasury Note Futures		06/21/23	$	(34,534,446	)	$	(35,615,344	)	$	(1,080,898	)
1	30 Year Euro-Buxl Future		06/8/23		(156,059	)		(153,037	)		3,022
5	Euro-Bobl Future		06/8/23		(642,586	)		(640,354	)		2,232
7	Euro-Bund Future		06/8/23		(1,000,788	)		(1,033,083	)		(32,295	)
84	U.S. Ultra Long Bond Futures		06/21/23		(11,289,706	)		(11,854,500	)		(564,794	)

				$	(47,623,585	)	$	(49,296,318	)	$	(1,672,733	)

FORWARD CURRENCY EXCHANGE CONTRACTS


Counterparty	Contracts to Deliver		Units of Currency		Settlement Date		In Exchange for U.S. Dollars		Contracts at Value		Unrealized Appreciation (Depreciation)
*SELL⁽¹⁶⁾***
Citibank N.A.		EUR		3,668,000		04/13/23	$	3,973,357	$	3,987,067	$	(13,710	)
Goldman Sachs & Co.		EUR		222,000		04/13/23		237,684		241,311		(3,627	)

							$	4,211,041	$	4,228,378	$	(17,337	)

CENTRALLY CLEARED—INTEREST RATE SWAP AGREEMENTS


Notional Amount		Expiration Date		Payment Made by Fund Frequency	Payment Made by Fund	Payment Received by Fund Frequency	Payment Received by Fund	Unrealized Appreciation (Depreciation)			Premium Paid		Value
	$740,000⁽¹⁷⁾		09/20/53	Annual	3.000%	Annual	12-Month SOFOR	$	(13,241	)	$	—	$	(13,241	)
	723,000⁽¹⁷⁾		09/20/53	Annual	3.000%	Annual	12-Month SOFOR	$	(12,936	)	$	—	$	(12,936	)

								$	(26,177	)	$	—	$	(26,177	)

WRITTEN OPTIONS—EXCHANGE TRADED


Description	Exercise Price		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation (Depreciation)
Equity Options
Call
Bank Of America Corp.	$	37.00		6/16/23		(284	)	$	(812,240	)	$	(1,704	)	$	(35,068	)	$	33,364
JPMorgan Chase & Co.		145.00		4/21/23		(94	)		(1,224,914	)		(1,504	)		(40,088	)		38,584
Wells Fargo & Co.		50.00		6/16/23		(60	)		(224,280	)		(330	)		(5,589	)		5,259
Wells Fargo & Co.		50.00		7/21/23		(135	)		(504,630	)		(1,553	)		(16,940	)		15,387

											$	(5,091	)	$	(97,685	)	$	92,594


Notes to the Schedule of Investments:
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.
SOFR				Secured Overnight Financing Rate.
TAC				Target Amortization Class.

TCW Strategic Income Fund, Inc.

SCHEDULE OF INVESTMENTS March 31, 2023 (Unaudited) (Cont’d)


TBA				To Be Announced.
EUR				Euro Currency.
(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 March 31, 2023, the value of these securities amounted to $115,250,426 or 47.9% 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)				Restricted security (Note 2).
(3)				This security is a residual or equity position that does not have a stated interest rate. This residual or equity position is entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying securities less contractual payments to debtholders and fund expenses.
(4)				For fair value measurement disclosure purposes, security is categorized as Level 3. Security is valued using significant unobservable inputs.
(5)				Floating or variable rate security. The interest shown reflects the rate in effect at March 31, 2023.
(6)				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.
(7)				Security is not accruing interest.
(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 March 31, 2023, the value of these securities amounted to $3,185,492 or 1.3% of net assets.
(9)				Security purchased on a forward commitment with an approximate principal amount. The actual principal amount and maturity date will be determined upon settlement when the security is delivered.
(10)				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.
(11)				The maturity date of the security has been extended past the date disclosed. The new maturity date is not known as of March 31, 2023.
(12)				Perpetual maturity.
(13)				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.
(14)				Non-income producing security.
(15)				Rate disclosed is the 7-day net yield as of March 31, 2023.
(16)				Fund sells foreign currency, buys U.S. Dollar.
(17)				This instrument has a forward starting effective date.

TCW Strategic Income Fund, Inc.


Investments by Sector (Unaudited)		March 31, 2023


Sector	Percentage of Net Assets
Corporate Bonds		34.3	%
Residential Mortgage-Backed Securities—Non-Agency		30.2
Residential Mortgage-Backed Securities—Agency		19.1
Asset-Backed Securities		18.0
Common Stock		6.5
Commercial Mortgage-Backed Securities—Non-Agency		6.2
Money Market Investments		1.5
Commercial Mortgage-Backed Securities—Agency		1.2
U.S. Treasury Securities		1.0
Municipal Bonds		0.7
Foreign Government Bonds		0.7
Rights		0.0	*
Other^**		(19.4	)

Total		100.0	%

*	Value rounds to less than 0.1% of net assets.

**	Includes cash, futures, written options, foreign currency exchange contracts, swap agreements, pending trades, interest receivable, and accrued expenses payable.

TCW Strategic Income Fund, Inc.


Fair Valuation Summary (Unaudited)		March 31, 2023

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 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	$	—		$	42,799,380		$	639,920	$	43,439,300
Mortgage-Backed Securities
Commercial Mortgage-Backed Securities—Agency		—			2,974,919			—		2,974,919
Commercial Mortgage-Backed Securities—Non-Agency		—			14,279,956			601,854		14,881,810
Residential Mortgage-Backed Securities—Agency		—			45,900,900			—		45,900,900
Residential Mortgage-Backed Securities—Non-Agency		—			69,784,962			2,943,173		72,728,135

Total Mortgage-Backed Securities		—			132,940,737			3,545,027		136,485,764

Corporate Bonds*		—			82,490,948			102,513		82,593,461
Municipal Bonds		—			1,751,441			—		1,751,441
Foreign Government Bonds		—			1,605,654			—		1,605,654
U.S. Treasury Securities		578,059			1,801,701			—		2,379,760

Total Fixed Income Securities		578,059			263,389,861			4,287,460		268,255,380

Common Stock*		15,321,724			—			287,794		15,609,518
Rights*		—			—			—		—
Money Market Investments		3,679,544			—			—		3,679,544
Total Investments	$	19,579,327		$	263,389,861		$	4,575,254	$	287,544,442

Asset Derivatives
Futures Contracts
Interest Rate Risk		1,312,841			—			—		1,312,841

Total	$	20,892,168		$	263,389,861		$	4,575,254	$	288,857,283

Liability Derivatives
Futures Contracts
Interest Rate Risk	$	(1,677,987	)	$	—		$	—	$	(1,677,987	)
Forward Currency Contracts
Foreign Currency Risk		—			(17,337	)		—		(17,337	)
Swap Agreements
Interest Rate Risk		—			(26,177	)		—		(26,177	)
Written Options
Equity Risk		(5,091	)		—			—		(5,091	)

Total	$	(1,683,078	)	$	(43,514	)	$	—	$	(1,726,592	)

*	See Schedule of Investments for corresponding industries.

Note 1 — Security Valuations

Securities listed or traded on the NYSE and other stock exchanges are valued at the latest sale price on that exchange. Securities traded on the NASDAQ stock market (“NASDAQ”) are valued using official closing prices as reported by NASDAQ, which may not be the last sale price. All other securities for which over-the-counter (“OTC”) market quotations are readily available, including short-term securities, swap agreements and forward currency contracts, are valued with prices furnished by independent pricing services or by broker-dealers.

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Directors of the Fund (the “Board” or the “Board of Directors”) has designated the Advisor as the “valuation designee” with respect to the fair valuation of the Fund’s portfolio securities, subject to oversight by and periodic reporting to the Board. Fair valued securities are those for which market quotations are not readily available, including in circumstances under which it is determined by the Advisor that prices received are not reflective of their market values.

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 its financial statements in a three-tier hierarchy. This hierarchy is utilized to establish classification of fair value measurements based on inputs. Inputs that go into fair value measurement refer broadly to the assumptions 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 as 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 within which the fair value measurement falls in its entirety 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 as Level 2 of the fair value hierarchy; otherwise, they would be categorized as 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 as Level 2 of the fair value hierarchy; in instances where prices, spreads, or any of the other aforementioned key inputs are unobservable, they are categorized as Level 3 of the hierarchy.

Equity securities. Securities are generally valued based on quoted prices from the applicable exchange. To the extent these securities are actively traded and valuation adjustments are not applied, they are generally categorized as Level 1 of the fair value hierarchy. Restricted securities issued by publicly held companies are generally categorized as Level 2 of the fair value hierarchy; if a discount is applied and significant, they are categorized as Level 3. Restricted securities held in non-public entities are included in Level 3 of the fair value hierarchy because they trade infrequently, and therefore the inputs are unobservable. Certain foreign securities that are fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets are categorized as Level 2 of the fair value hierarchy.

Foreign currency contracts. The fair values of foreign currency contracts are derived from indices, reference rates, and other inputs or a combination of these factors. To the extent that these factors can be observed, foreign currency contracts are categorized as 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 as 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 as Level 1 or 2 of the fair value hierarchy depending on the liquidity and transparency of the market.

Interest rate swaps. Interest rate swaps are fair valued using pricing models that take into account, among other factors, index spread curves, nominal values, modified duration values and cash flows. To the extent that these inputs are observable and timely, the fair values of credit default swaps are categorized as Level 2; otherwise, the fair values are categorized as Level 3.

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 as 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 as Level 2; otherwise, the fair values are categorized as Level 3.

Options contracts. Option contracts traded on securities exchanges are fair valued using market mid prices; as such, they are categorized as Level 1. Option contracts traded OTC are fair valued based on pricing models and incorporate various inputs such as interest rates, credit spreads, currency exchange rates and volatility measurements for in-the-money, at the-money, and out-of-money contracts on a given strike price. To the extent that these inputs are observable and timely, the fair value of OTC option contracts would be categorized as Level 2; otherwise, the fair values would be categorized as Level 3.

Restricted securities. Restricted securities, including illiquid Rule 144A securities, issued by non-public entities are categorized as 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 as 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 categorized as Level 1 or Level 2 of the fair value hierarchy.

The summary of the inputs used as of March 31, 2023 in valuing the Fund’s investments is listed after the Investments by Sector table.

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


	Asset-Backed Securities			Commercial Mortgage- Backed Securities — Non-Agency			Common Stock		Corporate Bonds			Residential Mortgage-Backed Securities — Non- Agency
Balance as of December 31, 2022	$	724,120					$	267,870	$	88,480		$	2,903,386
Accrued Discounts (Premiums)		—						—		—			(77,564	)
Realized Gain (Loss)		—						—		—			—
Change in Unrealized Appreciation (Depreciation)		(84,200	)		(1,634	)		19,924		14,033			117,351
Purchases		—			603,488			—		—			—
Sales		—						—		—			—
Transfers in to Level 3⁽¹⁾		—						—		—	⁽¹⁾		—
Transfers out of Level 3 ⁽¹⁾		—						—		—			—

Balance as of March 31, 2023	$	639,920		$	601,854		$	287,794	$	102,513		$	2,943,173

Change in Unrealized Appreciation (Depreciation) from Investments Still Held at March 31, 2023	$	(84,200	)	$	(1,634	)	$	19,924	$	14,033		$	117,351

⁽¹⁾

Financial assets transferred between Level 2 and Level 3 were due to a change in observable and/or unobservable inputs.

Significant unobservable valuation inputs for Level 3 investments as of March 31, 2023, are as follows:


Description	Fair Value at March 31, 2023		Valuation Techniques		Unobservable Input		Price or Price Range		Weighted Average Price		Impact to Valuation If Input Increases
Asset-Backed Securities	$	639,920		Fair Valuation		Broker Quotes	$	19,000.00	$	19,000.00		Increase
Commercial Mortgage-Backed Securities— Non-Agency	$	601,854		Third-party Vendor		Vendor Prices	$	99.480	$	99.480		Increase
Common Stock	$	287,794		Third-party Vendor		Vendor Prices	$	26.000	$	26.000		Increase
Corporate Bonds	$	102,513		Third-party Vendor		Vendor Prices	$	8.041- $24.164	$	12.814		Increase
Residential Mortgage-Backed Securities— Non-Agency	$	2,943,173		Third-party Vendor		Vendor Prices	$	0.001 - $17.591	$	3.425		Increase
Rights	$	0		Fair Valuation		Contingent Payment	$	0.00	$	0.00		Increase

Derivative Instruments: Derivatives are financial instruments which are valued 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. A derivative contract may result in a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. 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 March 31, 2023, the Fund had derivatives and transactions in derivatives, grouped in the following risk categories:


	Equity Risk			Foreign Currency Risk			Interest Rate Risk			Total
Asset Derivatives
Futures Contracts	$	—		$	—		$	1,312,841		$	1,312,841

Total Value	$	—		$	—		$	1,312,841		$	1,312,841

Liability Derivatives
Written Options	$	(5,091	)	$	—		$	—		$	(5,091	)
Forward Contracts		—			(17,337	)		—			(17,337	)
Swap Agreements		—			—			(26,177	)		(26,177	)
Futures Contracts		—			—			(1,677,987	)		(1,677,987	)

Total Value	$	(5,091	)	$	(17,337	)		(1,704,164	)	$	(1,726,592	)

Number of Contracts or Notional Amounts⁽¹⁾
Forward Contracts	$	—		$	3,697,979			—		$	3,697,979
Futures Contracts		—			—			881			881
Written Options		573			—			—			573
Swap Agreements	$	—			—		$	16,251,000		$	16,251,000

(1)

Amount disclosed represents average number of contracts or notional amounts, which are representative of the volume traded for the period ended March 31, 2023.

Mortgage-Backed and Other Asset-Backed Securities: The Fund may invest in MBS, which represent interests in pools of mortgages in which 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 which 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 March 31, 2023 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, the Fund purchases 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 March 31, 2023.

When-Issued, Delayed-Delivery, To Be Announced (“TBA”) and Forward Commitment Transactions: The Fund may enter into when-issued, delayed-delivery, TBA 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, TBA or forward commitment transactions, the Fund commits to purchase or sell particular 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, TBA 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 with market conditions. In addition, because the Fund is not required to pay for when-issued, delayed-delivery, TBA or forward commitment securities until the delivery date, they may result in a form of leverage to the extent the Fund does not set aside liquid assets to cover the commitment. To guard against this deemed leverage, the Fund monitors the obligations under these transactions on a daily basis and ensures that the Fund has sufficient liquid assets to cover them.

Securities 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 March 31, 2023.

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 may 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. Outstanding foreign currency forward contracts at March 31, 2023 are disclosed in the Schedule of Investments.

Futures Contracts: The Fund may enter into futures contracts. The Fund may seek to manage a variety of different risks through the use of futures contracts, such as interest rate risk, equity price risk, and currency risk. The Fund may use index futures to hedge against broad market risks to its portfolio or to gain broad market exposure. 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 March 31, 2023, the Fund utilized treasury futures to help manage interest rate duration and credit market exposure. Futures contracts outstanding at March 31, 2023 are listed in the Fund’s Schedule of Investments.

Options: The Fund may purchase and sell put and call options on a security or an index of securities to enhance investment performance and/or to protect against changes in market prices. The Fund may also enter into currency options to hedge against or to take advantage of currency fluctuations.

A call option gives the holder the right to purchase, and obligates the writer to sell, a security at the strike price at any time before the expiration date. A put option gives the holder the right to sell, and obligates the writer to buy, a security at the exercise price at any time before the expiration date. A Fund may purchase put options to protect portfolio holdings against a decline in market value of a security or securities held by it. A Fund may also purchase a put option hoping to profit from an anticipated decline in the value of the underlying security. If a Fund holds the security underlying the option, the option premium and any transaction costs will reduce any profit the Fund might have realized had it sold the underlying security instead of buying the put option. A Fund may purchase call options to hedge against an increase in the price of securities that the Fund ultimately wants to buy. A Fund may also purchase a call option as a long directional investment hoping to profit from an anticipated increase in the value of the underlying security. In order for a call option to be profitable, the market price of the underlying security must rise sufficiently above the exercise price to cover the premium and transaction costs. These costs will reduce any profit a Fund might have realized had it bought the underlying security at the time it purchased the call option.

Purchasing foreign currency options gives a Fund the right, but not the obligation, to buy or sell specified amounts of currency at a rate of exchange that may be exercised by a certain date. These currency options may be used as a short or long hedge against possible variations in foreign exchange rates or to gain exposure to foreign currencies.

When a Fund purchases an option, it runs the risk that it will lose its entire investment in the option in a relatively short period of time, unless the Fund exercises the option or enters into a closing sale transaction before the option’s expiration. If the price of the underlying security does not rise (in the case of a call) or fall (in the case of a put) to an extent sufficient to cover the option premium and transaction costs, the Fund will lose part or all of its investment in the option. Premiums paid for purchasing options that expire are treated as realized losses.

Options purchased or sold by a Fund may be traded on a securities or options exchange. Such options typically have minimal exposure to counterparty risk. However, an exchange or market may at times find it necessary to impose restrictions on particular types of options transactions, such as opening transactions. If an underlying security ceases to meet qualifications imposed by an exchange or the Options Clearing Corporation, new series of options on that security will no longer be opened to replace the expiring series, and opening transactions in existing series may be prohibited.

OTC options are options not traded on exchanges or backed by clearinghouses. Rather, they are entered into directly between a Fund and the counterparty to the option. In the case of an OTC option purchased by a Fund, the value of the option to the Fund will depend on the willingness and ability of the option writer to perform its obligations to the Fund. In addition, OTC options may not be transferable and there may be little or no secondary market for them, so they may be considered illiquid. It may not be possible to enter into closing transactions with respect to OTC options or otherwise to terminate such options, and as a result a Fund may be required to remain obligated on an unfavorable OTC option until its expiration. During the period ended March 31, 2023, the Fund entered into written option contracts to gain exposure to the equity market.

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).

In a total return swap, one party typically agrees to pay to the other a short-term interest rate in return for a payment at one or more times in the future based on the increase in the value of an underlying security or other asset, or index of securities or assets; if the underlying security, asset, or index declines in value, the party that pays the short-term interest rate must also pay to its counterparty a payment based on the amount of the decline. The Fund may take either side of such a swap, and so may take a long or short position in the underlying security, asset, or index. The Fund may enter into a total return swap to hedge against an exposure in its portfolio — such as interest rate risk (including to adjust the duration or credit quality of the Fund’s bond portfolio), equity risk, or credit risk — or generally to put cash to work efficiently in the markets in anticipation of, or as a replacement for, cash investments. The Fund may also enter into a total return swap to gain exposure to securities or markets in which it might not be able to invest directly (in so-called market access transactions).

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.

The Fund may enter into credit default swap transactions as a “buyer” or “seller” of credit protection. In a credit default swap, one party provides what is in effect insurance against a default or other adverse credit event affecting an issuer of debt securities (typically referred to as a “reference entity”). In general, the buyer of credit protection is obligated to pay the protection seller an upfront amount or a periodic stream of payments over the term of the swap. If a “credit event” occurs, the buyer has the right to deliver to the seller bonds (or other obligations of the reference entity with a value up to the full notional value of the swap), and to receive a payment equal to the par value of the bonds or other obligations. Credit events that would trigger a request that the seller make payment are specific to each credit default swap agreement, but generally include bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. When the Fund buys protection, it may or may not own securities of the reference entity. When the Fund sells protection under a credit default swap, the position may have the effect of creating leverage in the Fund’s portfolio through the Fund’s indirect long exposure to the issuer or securities on which the swap is written. When the Fund sells protection, it may do so either to earn additional income or to create such a “synthetic” long position.

Whenever the Fund enters into a swap agreement, it takes on counterparty risk — the risk that its counterparty will be unable or unwilling to meet its obligations under the swap agreement. The Fund also takes the risk that the market will move against its position in the swap agreement. In the case of a total return swap, the swap will change in value depending on the change in value of the asset or index on which the swap is written. When the Fund enters into any type of swap for hedging purposes, it is likely that the Fund will have an asset or liability that will offset any loss (or gain) on the swap, at least in part. Swap agreements may be non-transferable or otherwise highly illiquid, and the Fund may not be able to terminate or transfer a swap agreement at any particular time or at an acceptable price.

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 gains or losses 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 March 31, 2023, 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). Outstanding swap agreements at March 31, 2023 are disclosed in the Schedule of Investments.

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. 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 March 31, 2023 are listed below:


Issuer Description	Acquisition Date		Acquisition Cost		Aggregate Value		Percentage of Net Assets
Academic Loan Funding Trust (12-1A-R), 0.00%, due 12/27/2044		11/1/2022	$	735,000		639,920		0.27	%
Intelsat Jackson Holdings, 6.50%, due 3/15/2030		1/27/2022	$	388,195	$	365,526		0.15	%

			$	1,123,195	$	1,005,446		0.42	%