DoubleLine Low Duration Emerging Markets Fixed Income Fund

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount $/Shares	Security Description	Rate			Maturity	Value $
Foreign Corporate Bonds - 81.6%
Brazil - 10.5%
3,800,000	Braskem Netherlands Finance B.V. (5 Year CMT Rate + 8.22%)		8.50	%	01/23/2081		3,271,572
376,000	BRF GmbH		4.35	%	09/29/2026		355,607
3,100,000	Cosan Overseas Ltd.		7.00	%	01/20/2027		3,126,691
1,756,420	Guara Norte SARL		5.20	%	06/15/2034		1,602,036
105,102	Invepar Holdings		0.00	% (a)(b)	12/30/2028		—
2,000,000	JBS USA Luxembourg S.A.		2.50	%	01/15/2027		1,841,770
400,000	JBS USA Luxembourg S.A.		3.00	%	02/02/2029		352,190
300,000	Minerva Luxembourg S.A.		5.88	%	01/19/2028		285,268
2,552,129	MV24 Capital B.V.		6.75	%	06/01/2034		2,390,873
2,800,000	NBM US Holdings, Inc.		7.00	%	05/14/2026		2,833,807
1,200,000	St Marys Cement, Inc.		5.75	%	01/28/2027		1,216,823
							17,276,637
Chile - 9.1%
4,850,000	Chile Electricity PEC S.p.A.		0.00	% (c)	01/25/2028		3,877,415
478,000	Empresa Electrica Angamos S.A.		4.88	%	05/25/2029		430,582
1,520,470	Empresa Electrica Cochrane S.p.A.		5.50	%	05/14/2027		1,442,478
4,500,000	Enel Generacion Chile S.A.		4.25	%	04/15/2024		4,478,284
1,694,400	GNL Quintero S.A.		4.63	%	07/31/2029		1,667,788
700,000	Mercury Chile Holdco LLC		6.50	% (c)	01/24/2027		652,954
900,000	Mercury Chile Holdco LLC		6.50	%	01/24/2027		839,512
788,000	Sociedad Quimica y Minera de Chile S.A.		4.38	%	01/28/2025		777,330
1,478,000	VTR Comunicaciones S.p.A.		5.13	%	01/15/2028		740,545
							14,906,888
Colombia - 5.8%
3,832,119	AI Candelaria Spain S.A.		7.50	%	12/15/2028		3,635,493
2,100,000	Banco de Bogota S.A.		6.25	%	05/12/2026		2,074,997
3,000,000	Bancolombia S.A. (5 Year CMT Rate + 2.94%)		4.63	%	12/18/2029		2,783,204
1,100,000	Grupo de Inversiones Suramericana S.A.		5.50	%	04/29/2026		1,080,786
							9,574,480
Guatemala - 2.5%
1,100,000	Banco Industrial S.A. (5 Year CMT Rate + 4.44%)		4.88	%	01/29/2031		1,036,261
1,350,000	Millicom International Cellular S.A.		6.63	%	10/15/2026		1,324,424
1,936,800	Millicom International Cellular S.A.		5.13	%	01/15/2028		1,806,046
							4,166,731
India - 6.3%
1,242,500	Adani International Container Terminal Private Ltd.		3.00	%	02/16/2031		1,019,920
336,000	Adani Ports & Special Economic Zone Ltd.		3.38	%	07/24/2024		329,521
3,100,000	Adani Ports & Special Economic Zone Ltd.		4.00	%	07/30/2027		2,763,820

Principal Amount $/Shares	Security Description	Rate			Maturity	Value $
2,400,000	Adani Transmission Step-One Ltd.		4.00	%	08/03/2026		2,204,004
966,000	JSW Hydro Energy Ltd.		4.13	%	05/18/2031		842,724
3,150,000	Reliance Industries Ltd.		4.13	%	01/28/2025		3,111,555
							10,271,544
Indonesia - 7.6%
400,000	Freeport Indonesia PT		4.76	% (c)	04/14/2027		395,000
1,800,000	Freeport Indonesia PT		4.76	%	04/14/2027		1,777,500
4,900,000	Freeport-McMoRan, Inc.		4.13	%	03/01/2028		4,693,276
1,005,750	LLPL Capital Pte Ltd.		6.88	%	02/04/2039		970,680
4,800,000	Minejesa Capital B.V.		4.63	%	08/10/2030		4,566,000
							12,402,456
Jamaica - 0.1%
63,332	Digicel Group Holdings Ltd.		0.00	% (b)(c)	12/31/2030		58,035
201,875	Digicel Group Holdings Ltd.		0.00	% (b)(c)	12/31/2030		16,875
1,246	Digicel Group Holdings Ltd.		0.00	% (b)(c)	12/31/2030		1,107
56,495	Digicel Group Holdings Ltd.		0.00	% (b)(c)	12/31/2030		—
							76,017
Korea - 3.2%
2,500,000	KT Corporation		1.00	%	09/01/2025		2,341,749
3,000,000	LG Chem Ltd.		3.25	%	10/15/2024		2,952,401
							5,294,150
Kuwait - 2.3%
400,000	Equate Petrochemical B.V.		4.25	%	11/03/2026		387,374
3,400,000	MEGlobal Canada ULC		5.00	%	05/18/2025		3,365,830
							3,753,204
Malaysia - 0.8%
1,244,000	Axiata SPV2 BHD		4.36	%	03/24/2026		1,227,303
Mexico - 5.5%
500,000	Banco Inbursa S.A. Institucion De Banca Multiple Grupo Financiero Inbursa		4.38	%	04/11/2027		483,679
1,200,000	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand (5 Year CMT Rate + 3.00%)		7.53	%	10/01/2028		1,256,758
2,250,000	BBVA Bancomer S.A. (5 Year CMT Rate + 2.65%)		5.13	%	01/18/2033		2,040,401
1,800,000	BBVA Bancomer S.A. (5 Year CMT Rate + 3.00%)		5.35	%	11/12/2029		1,780,485
2,000,000	Industrias Penoles SAB de CV		4.15	%	09/12/2029		1,869,073
1,662,476	Mexico Generadora de Energia S. de R.L.		5.50	%	12/06/2032		1,621,494
							9,051,890
Panama - 1.7%
1,877,000	Global Bank Corporation (3 Month LIBOR USD + 3.30%)		5.25	% (f)	04/16/2029		1,682,205
800,000	Multibank, Inc.		7.75	% (c)	02/03/2028		800,672
400,000	Sable International Finance Ltd.		5.75	%	09/07/2027		378,216
							2,861,093

Principal Amount $/Shares	Security Description	Rate			Maturity	Value $
Paraguay - 1.5%
1,050,000	Banco Continental SAECA		2.75	%	12/10/2025		985,945
1,482,000	Telefonica Celular del Paraguay S.A.		5.88	%	04/15/2027		1,445,405
							2,431,350
Peru - 13.2%
2,000,000	Banco de Credito del Peru S.A. (5 Year CMT Rate + 2.45%)		3.25	% (c)	09/30/2031		1,830,980
1,750,000	Banco de Credito del Peru S.A. (5 Year CMT Rate + 3.00%)		3.13	%	07/01/2030		1,666,112
3,200,000	Banco Internacional del Peru S.A.A. Interbank (3 Month LIBOR USD + 5.76%)		6.63	% (f)	03/19/2029		3,187,808
1,400,000	Banco Internacional del Peru S.A.A. Interbank (5 Year CMT Rate + 3.71%)		4.00	%	07/08/2030		1,341,732
1,350,000	BBVA Banco Continental S.A. (5 Year CMT Rate + 2.75%)		5.25	%	09/22/2029		1,334,898
500,000	Camposol S.A.		6.00	%	02/03/2027		348,528
200,000	Credicorp Ltd.		2.75	%	06/17/2025		190,805
2,825,000	Fenix Power Peru S.A.		4.32	%	09/20/2027		2,642,717
316,000	Hunt Oil Company of Peru LLC		6.38	% (c)	06/01/2028		311,812
2,355,000	Inkia Energy Ltd.		5.88	%	11/09/2027		2,252,102
118,262	Interoceanica Finance Ltd.		0.00	%	11/30/2025		110,575
2,300,000	Kallpa Generacion S.A.		4.88	%	05/24/2026		2,279,001
1,885,000	Orazul Energy Peru S.A.		5.63	%	04/28/2027		1,778,422
2,400,000	Transportadora de Gas del Peru S.A.		4.25	%	04/30/2028		2,364,805
							21,640,297
Singapore - 7.0%
4,000,000	DBS Group Holdings Ltd. (5 Year CMT Rate + 1.10%)		1.82	%	03/10/2031		3,710,360
4,500,000	Oversea-Chinese Banking Corporation Ltd. (5 Year CMT Rate + 1.58%)		1.83	%	09/10/2030		4,234,690
3,800,000	United Overseas Bank Ltd. (5 Year CMT Rate + 1.52%)		1.75	%	03/16/2031		3,508,534
							11,453,584
South Africa - 2.0%
650,000	AngloGold Ashanti Ltd.		3.38	%	11/01/2028		585,566
600,000	Gold Fields Orogen Holdings BVI Ltd.		5.13	%	05/15/2024		596,721
2,300,000	Sasol Financing USA LLC		4.38	%	09/18/2026		2,144,509
							3,326,796
United Arab Emirates - 2.0%
3,491,640	Galaxy Pipeline Assets Bidco Ltd.		1.75	%	09/30/2027		3,289,743
Vietnam - 0.5%
922,290	Mong Duong Finance Holdings B.V.		5.13	%	05/07/2029		858,862
Total Foreign Corporate Bonds (Cost $138,833,055)							133,863,025
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations - 17.4%
Brazil - 0.7%
1,100,000	Petrobras Global Finance B.V.		7.38	%	01/17/2027		1,159,224
Colombia - 4.1%
1,500,000	Colombia Government International Bond		4.50	%	01/28/2026		1,479,165
3,100,000	Ecopetrol S.A.		4.13	%	01/16/2025		3,031,112

Principal Amount $/Shares	Security Description	Rate			Maturity	Value $
2,500,000	Oleoducto Central S.A.		4.00	%	07/14/2027		2,325,559
							6,835,836
Dominican Republic - 0.4%
700,000	Dominican Republic International Bond		5.50	%	01/27/2025		697,375
India - 2.1%
1,000,000	ONGC Videsh Ltd.		4.63	%	07/15/2024		994,970
2,500,000	ONGC Videsh Vankorneft Pte Ltd.		3.75	%	07/27/2026		2,417,782
							3,412,752
Indonesia - 0.5%
800,000	Indonesia Asahan Aluminium Persero PT		4.75	%	05/15/2025		790,532
Korea - 2.6%
1,600,000	Korea East-West Power Company Ltd.		1.75	%	05/06/2025		1,530,002
500,000	Korea Hydro & Nuclear Power Company Ltd.		1.25	% (c)	04/27/2026		459,331
2,500,000	Korea Southern Power Company Ltd.		0.75	% (c)	01/27/2026		2,295,433
							4,284,766
Malaysia - 2.3%
4,000,000	TNB Global Ventures Capital BHD		3.24	%	10/19/2026		3,813,780
Mexico - 1.8%
3,400,000	Banco Nacional de Comercio Exterior (5 Year CMT Rate + 2.00%)		2.72	%	08/11/2031		2,905,224
Panama - 0.3%
500,000	Panama Government International Bond		3.75	%	03/16/2025		486,971
Paraguay - 0.3%
650,805	Bioceanico Sovereign Certificate Ltd.		0.00	%	06/05/2034		466,307
Peru - 1.5%
1,959,000	Corporacion Financiera de Desarrollo S.A. (3 Month LIBOR USD + 5.61%)		5.25	% (f)	07/15/2029		1,942,632
533,088	Lima Metro Finance Ltd.		5.88	%	07/05/2034		527,998
							2,470,630
South Africa - 0.8%
1,300,000	Republic of South Africa Government Bond		4.88	%	04/14/2026		1,285,304
Total Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations (Cost $29,449,912)							28,608,701
Short Term Investments - 0.0% (e)
109	First American Government Obligations Fund - Class U		5.30	% (d)			109
110	JP Morgan U.S. Government Money Market Fund - Institutional Share Class		5.29	% (d)			110
110	Morgan Stanley Institutional Liquidity Funds Government Portfolio - Institutional Share Class		5.27	% (d)			110
Total Short Term Investments (Cost $329)							329
Total Investments - 99.0% (Cost $168,283,296)							162,472,055
Other Assets in Excess of Liabilities - 1.0%							1,664,714
NET ASSETS - 100.0%						$	164,136,769

(a) Security is in default or has failed to make a scheduled payment. Income is not being accrued.

(b) Value determined using significant unobservable inputs.

(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers.

(d) Seven-day yield as of period end

(e) Represents less than 0.05% of net assets

(f) Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date.

SECURITY TYPE BREAKDOWN as a % of Net Assets:

Foreign Corporate Bonds	81.6%
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations	17.4%
Short Term Investments	0.0%	(e)
Other Assets and Liabilities	1.0%
	100.0%

INVESTMENT BREAKDOWN as a % of Net Assets:

Banking	21.8%
Utilities	19.3%
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations	17.4%
Transportation	9.3%
Mining	6.0%
Telecommunications	5.7%
Consumer Products	5.6%
Energy	4.5%
Chemical Products	4.3%
Chemicals/Plastics	3.6%
Finance	0.8%
Conglomerates	0.7%
Short Term Investments	0.0%	(e)
Other Assets and Liabilities	1.0%
	100.0%

COUNTRY BREAKDOWN as a % of Net Assets:

Peru	14.7%
Brazil	11.2%
Colombia	9.9%
Chile	9.1%
India	8.4%
Indonesia	8.1%
Mexico	7.3%
Singapore	7.0%
Korea	5.8%
Malaysia	3.1%
South Africa	2.8%
Guatemala	2.5%
Kuwait	2.3%
Panama	2.0%
United Arab Emirates	2.0%
Paraguay	1.8%
Vietnam	0.5%
Dominican Republic	0.4%
Jamaica	0.1%
United States	0.0%	(e)
Other Assets and Liabilities	1.0%
	100.0%

Notes to Schedule of Investments

December 31, 2023 (Unaudited)

1. Organization

DoubleLine Funds Trust, a Delaware statutory trust (the “Trust”), is an open-end investment management company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust consists of 17 funds, the DoubleLine Total Return Bond Fund, DoubleLine Core Fixed Income Fund, DoubleLine Emerging Markets Fixed Income Fund, DoubleLine Low Duration Bond Fund, DoubleLine Floating Rate Fund, DoubleLine Shiller Enhanced CAPE^®, DoubleLine Flexible Income Fund, DoubleLine Low Duration Emerging Markets Fixed Income Fund, DoubleLine Long Duration Total Return Bond Fund, DoubleLine Strategic Commodity Fund, DoubleLine Global Bond Fund, DoubleLine Infrastructure Income Fund, DoubleLine Shiller Enhanced International CAPE^®, DoubleLine Emerging Markets Local Currency Bond Fund, DoubleLine Income Fund and DoubleLine Multi-Asset Trend Fund (each, a “Fund” and, collectively, the “Funds”), along with DoubleLine Selective Credit Fund.

Each Fund is classified as a diversified fund under the 1940 Act, except the DoubleLine Global Bond Fund and the DoubleLine Emerging Markets Local Currency Bond Fund, which are classified as non-diversified funds. Currently under the 1940 Act, a diversified fund generally may not, with respect to 75% of its total assets, invest more than 5% of its total assets in the securities of any one issuer or own more than 10% of the outstanding voting securities of such issuer (except, in each case, U.S. Government securities, cash, cash items and the securities of other investment companies). The remaining 25% of a fund’s total assets is not subject to this limitation.

The Funds’ investment objectives and dates each share class commenced operations are as follows:

		Commencement of Operations
Fund Name	Investment Objective	I Shares		N Shares		A Shares		R6 Shares
DoubleLine Total Return Bond Fund	Maximize total return		4/6/2010		4/6/2010		—		7/31/2019
DoubleLine Core Fixed Income Fund	Maximize current income and total return		6/1/2010		6/1/2010		—		7/31/2019
DoubleLine Emerging Markets Fixed Income Fund	Seek high total return from current income and capital appreciation		4/6/2010		4/6/2010		—		—
DoubleLine Low Duration Bond Fund	Seek current income		9/30/2011		9/30/2011		—		7/31/2019
DoubleLine Floating Rate Fund	Seek a high level of current income		2/1/2013		2/1/2013		—		—
DoubleLine Shiller Enhanced CAPE®	Seek total return which exceeds the total return of its benchmark index over a full market cycle		10/31/2013		10/31/2013		—		7/31/2019
DoubleLine Flexible Income Fund	Seek long-term total return while striving to generate current income		4/7/2014		4/7/2014		—		7/31/2019
DoubleLine Low Duration Emerging Markets Fixed Income Fund	Seek long-term total return		4/7/2014		4/7/2014		—		—
DoubleLine Long Duration Total Return Bond Fund	Seek long-term total return		12/15/2014		12/15/2014		—		—
DoubleLine Strategic Commodity Fund (Consolidated)	Seek long-term total return		5/18/2015		5/18/2015		—		—
DoubleLine Global Bond Fund	Seek long-term total return		12/17/2015		12/17/2015		—		—
DoubleLine Infrastructure Income Fund	Seek long-term total return while striving to generate current income		4/1/2016		4/1/2016		—		—
DoubleLine Shiller Enhanced International CAPE®	Seek total return which exceeds the total return of its benchmark index over a full market cycle		12/23/2016		12/23/2016		—		—
DoubleLine Emerging Markets Local Currency Bond Fund	Seek high total return from current income and capital appreciation		6/28/2019		6/28/2019		—		—
DoubleLine Income Fund	Maximize total return through investment principally in income-producing securities		9/3/2019		9/3/2019		—		—
DoubleLine Multi-Asset Trend Fund (Consolidated)	Seek total return (capital appreciation and current income) which exceeds the total return of its benchmark index over a full market cycle		2/26/2021		2/26/2021		—		—

2. Significant Accounting Policies

Each Fund is an investment company that applies the accounting and reporting guidance issued in Topic 946, Financial Services—Investment Companies, by the Financial Accounting Standards Board (“FASB”). The following is a summary of the significant accounting policies of the Funds. These policies are in conformity with accounting principles generally accepted in the United States of America (“US GAAP”).

A. Security Valuation. The Funds have adopted US GAAP fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels listed below:

• Level 1—Unadjusted quoted market prices in active markets for identical securities

• Level 2—Quoted prices for identical or similar assets in markets that are not active, or inputs derived from observable market data

• Level 3—Significant unobservable inputs (including the reporting entity’s estimates and assumptions)

Valuations for domestic and foreign fixed income securities are normally determined on the basis of evaluations provided by independent pricing services. Vendors typically value such securities based on one or more inputs described in the following table which is not intended to be a complete list. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed income securities in which the Funds are authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income securities. Securities that use similar valuation techniques and inputs as described in the following table are categorized as Level 2 of the fair value hierarchy. To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3. Assets and liabilities may be transferred between levels.

Fixed-income class	Examples of Inputs
All	Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”)
Corporate bonds and notes; convertible securities	Standard inputs and underlying equity of the issuer
US bonds and notes of government and government agencies	Standard inputs
Residential and commercial mortgage-backed obligations; asset-backed obligations (including collateralized loan obligations)	Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information, trustee reports
Bank loans	Standard inputs

Investments in registered open-end management investment companies will be valued based upon the net asset value (“NAV”) of such investments and are categorized as Level 1 of the fair value hierarchy.

Common stocks, exchange-traded funds and financial derivative instruments, such as futures contracts or options contracts, that are traded on a national securities or commodities exchange, are typically valued at the last reported sales price, in the case of common stocks and exchange-traded funds, or, in the case of futures contracts or options contracts, the settlement price determined by the relevant exchange. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy.

Over-the-counter financial derivative instruments, such as forward currency exchange contracts, options contracts, or swap agreements, derive their values from underlying asset prices, indices, reference rates, other inputs or a combination of these factors. These instruments are normally valued on the basis of valuations obtained from counterparties, published index closing levels or evaluated prices supplied by independent pricing services, some or all of which may be based on market data from trading on exchanges that closed significantly before the time as of which a Fund calculates its NAV. Forward foreign currency contracts are generally valued based on rates provided by independent data providers. Exchange traded futures and options on futures are generally valued at the settlement price determined by the relevant exchange on which they principally trade, and exchange traded options are generally valued at the last trade price on the exchange on which they principally trade. A Fund does not normally take into account trading, clearances or settlements that take place after the close of the principal exchange or market on which such securities are traded. Depending on the instrument and the terms of the transaction, the value of the derivative instruments can be estimated by a pricing service provider using a series of techniques, such as simulation pricing models. The pricing models use issuer details and other inputs that are observed from actively quoted markets such as indices, spreads, interest rates, curves, dividends and exchange rates. Derivatives that use similar valuation techniques and inputs as described above are normally categorized as Level 2 of the fair value hierarchy.

The Board of Trustees (the “Board”) has adopted a pricing and valuation policy for use by each Fund and its Valuation Designee (as defined below) in calculating each Fund’s NAV. Pursuant to Rule 2a-5 under the 1940 Act, each Fund has designated its primary investment adviser, either DoubleLine Capital LP (“DoubleLine Capital”) or DoubleLine Alternatives LP (“DoubleLine Alternatives”) (each, an “Adviser” and collectively, the “Advisers”), as applicable, as the “Valuation Designee” to perform all of the fair value determinations as well as to perform all of the responsibilities that may be performed by the Valuation Designee in accordance with Rule 2a-5. Each Adviser, as Valuation Designee, is authorized to make all necessary determinations of the fair values of portfolio securities and other assets for which market quotations are not readily available or if it is deemed that the prices obtained from brokers and dealers or independent pricing services are unreliable.

The following is a summary of the fair valuations according to the inputs used to value the Fund's investments as of December 31, 2023:

Category	DoubleLine Total Return Bond Fund		DoubleLine Core Fixed Income Fund		DoubleLine Emerging Markets Fixed Income Fund		DoubleLine Low Duration Bond Fund		DoubleLine Floating Rate Fund		DoubleLine Shiller Enhanced CAPE®
Investments in Securities
Level 1
Short Term Investments	$	385,668,763	$	1,179,050,516	$	995,549	$	101,279,049	$	12,888,281	$	155,671,242
Affiliated Mutual Funds		—		450,698,184		—		—		—		—
Warrants		—		7,919		—		—		—		—
Total Level 1		385,668,763		1,629,756,619		995,549		101,279,049		12,888,281		155,671,242
Level 2
US Government and Agency Mortgage Backed Obligations		15,915,342,077		1,463,020,669		—		168,518,137		—		98,729,518
Non-Agency Residential Collateralized Mortgage Obligations		8,145,756,691		779,206,918		—		736,763,147		—		437,160,115
Non-Agency Commercial Mortgage Backed Obligations		2,240,264,590		363,165,349		—		759,303,806		—		421,772,772
US Government and Agency Obligations		1,968,200,082		1,554,827,501		—		1,262,036,593		—		871,365,002
Asset Backed Obligations		1,352,938,110		247,636,720		—		382,134,595		—		284,417,546
Collateralized Loan Obligations		1,020,039,072		260,583,256		—		889,265,171		2,002,441		647,956,913
US Corporate Bonds		—		1,047,935,433		—		388,203,198		4,841,988		264,572,313
Foreign Corporate Bonds		—		390,467,457		342,786,967		461,381,293		—		208,113,759
Bank Loans		—		220,824,544		—		191,072,088		154,456,072		198,665,208
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations		—		72,774,006		84,076,962		111,108,599		—		33,066,453
Municipal Bonds		—		5,604,279		—		—		—		—
Escrow Notes		—		6,365		—		—		—		—
Short Term Investments		—		—		—		82,390,981		—		205,583,485
Total Level 2		30,642,540,622		6,406,052,497		426,863,929		5,432,177,608		161,300,501		3,671,403,084
Level 3
Non-Agency Residential Collateralized Mortgage Obligations		249,219,181		703,045		—		385,461		—		9,993,174
Asset Backed Obligations		25,453,209		796,549		—		25,170,000		—		—
Collateralized Loan Obligations		494,317		2,392,583		—		—		—		—
Common Stocks		—		798,577		—		—		219,943		70,553
Bank Loans		—		485,048		—		—		388,418		—
Foreign Corporate Bonds		—		298,849		530,111		258,464		—		112,981
Non-Agency Commercial Mortgage Backed Obligations		—		—		—		—		—		6,752,087
Total Level 3		275,166,707		5,474,651		530,111		25,813,925		608,361		16,928,795
Total	$	31,303,376,092	$	8,041,283,767	$	428,389,589	$	5,559,270,582	$	174,797,143	$	3,844,003,121

Category	DoubleLine Total Return Bond Fund		DoubleLine Core Fixed Income Fund		DoubleLine Emerging Markets Fixed Income Fund		DoubleLine Low Duration Bond Fund		DoubleLine Floating Rate Fund		DoubleLine Shiller Enhanced CAPE®
Other Financial Instruments
Level 1
Futures Contracts	$	153,451,427	$	20,351,282	$	—	$	—	$	—	$	—
Total Level 1		153,451,427		20,351,282		—		—		—		—
Level 2
Excess Return Swaps		—		—		—		—		—		380,812,045
Unfunded Loan Commitments		—		390		—		—		284		—
Total Level 2		—		390		—		—		284		380,812,045
Level 3		—		—		—		—		—		—
Total	$	153,451,427	$	20,351,672	$	—	$	—	$	284	$	380,812,045
Category	DoubleLine Flexible Income Fund		DoubleLine Low Duration Emerging Markets Fixed Income Fund		DoubleLine Long Duration Total Return Bond Fund		DoubleLine Strategic Commodity Fund (Consolidated)		DoubleLine Global Bond Fund		DoubleLine Infrastructure Income Fund
Investments in Securities
Level 1
Short Term Investments	$	38,090,868	$	329	$	985,533	$	3,541,362	$	2,930,838	$	12,217,879
Warrants		892		—		—		—		—		—
Total Level 1		38,091,760		329		985,533		3,541,362		2,930,838		12,217,879
Level 2
Collateralized Loan Obligations		164,948,467		—		—		—		—		—
Non-Agency Residential Collateralized Mortgage Obligations		150,421,676		—		—		—		—		—
Short Term Investments		137,575,582		—		—		144,694,914		1,687,374		—
Non-Agency Commercial Mortgage Backed Obligations		80,655,402		—		—		—		—		—
Bank Loans		79,224,330		—		—		—		—		—
US Government and Agency Mortgage Backed Obligations		75,840,061		—		45,942,139		—		—		—
Foreign Corporate Bonds		44,378,175		133,787,008		—		—		—		36,266,330
Asset Backed Obligations		36,252,779		—		—		—		—		133,933,085
US Corporate Bonds		34,302,178		—		—		—		—		164,552,070
US Government and Agency Obligations		9,802,344		—		10,963,629		—		55,206,433		2,804,101
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations		9,607,664		28,608,701		—		—		85,843,380		6,609,446
Escrow Notes		1,502		—		—		—		—		—
Total Level 2		823,010,160		162,395,709		56,905,768		144,694,914		142,737,187		344,165,032
Level 3
Non-Agency Residential Collateralized Mortgage Obligations		6,886,565		—		—		—		—		—
Collateralized Loan Obligations		4,550,525		—		—		—		—		—
Asset Backed Obligations		4,098,145		—		—		—		—		—
Non-Agency Commercial Mortgage Backed Obligations		2,113,379		—		—		—		—		—

Category	DoubleLine Flexible Income Fund		DoubleLine Low Duration Emerging Markets Fixed Income Fund		DoubleLine Long Duration Total Return Bond Fund		DoubleLine Strategic Commodity Fund (Consolidated)			DoubleLine Global Bond Fund		DoubleLine Infrastructure Income Fund
Common Stocks	$	188,616	$	—	$	—	$	—		$	—	$	—
Bank Loans		106,058		—		—		—			—		—
Foreign Corporate Bonds		77,112		76,017		—		—			—		1,998,179
Total Level 3		18,020,400		76,017		—		—			—		1,998,179
Total	$	879,122,320	$	162,472,055	$	57,891,301	$	148,236,276		$	145,668,025	$	358,381,090
Other Financial Instruments
Level 1
Futures Contracts	$	—	$	—	$	963,102	$	—		$	—	$	—
Total Level 1		—		—		963,102		—			—		—
Level 2
Excess Return Swaps		—		—		—		(4,552,381	)		—		—
Unfunded Loan Commitments		100		—		—		—			—		—
Total Level 2		100		—		—		(4,552,381	)		—		—
Level 3		—		—		—		—			—		—
Total	$	100	$	—	$	963,102	$	(4,552,381	)	$	—	$	—
Category	DoubleLine Shiller Enhanced International CAPE®		Doubleline Emerging Markets Local Currency Bond Fund		Doubleline Income Fund		DoubleLine Multi-Asset Trend Fund (Consolidated)
Investments in Securities
Level 1
Affiliated Mutual Funds	$	2,344,868	$	—	$	—	$	9,887,338
Short Term Investments		1,418,436		257,083		9,018,671		343,149
Total Level 1		3,763,304		257,083		9,018,671		10,230,487
Level 2
US Government and Agency Obligations		11,864,823		—		1,762,344		851,517
Collateralized Loan Obligations		8,718,300		—		10,864,798		—
Non-Agency Residential Collateralized Mortgage Obligations		6,116,518		—		12,008,555		—
Non-Agency Commercial Mortgage Backed Obligations		5,534,474		—		7,450,659		—
US Corporate Bonds		3,182,611		—		—		—
Foreign Corporate Bonds		2,508,511		2,793,463		—		—
Asset Backed Obligations		1,528,261		—		1,754,990		—
US Government and Agency Mortgage Backed Obligations		1,456,824		—		3,375,621		—
Short Term Investments		745,442		—		—		1,393,799
Foreign Government Bonds, Foreign Agencies and Foreign Government Sponsored Corporations		352,157		9,805,861		—		—
Total Level 2		42,007,921		12,599,324		37,216,967		2,245,316

Category	DoubleLine Shiller Enhanced International CAPE®		Doubleline Emerging Markets Local Currency Bond Fund		Doubleline Income Fund		DoubleLine Multi-Asset Trend Fund (Consolidated)
Level 3
Asset Backed Obligations	$	—	$	—	$	1,369,835	$	—
Total Level 3		—		—		1,369,835		—
Total	$	45,771,225	$	12,856,407	$	47,605,473	$	12,475,803
Other Financial Instruments
Level 1	$	—	$	—	$	—	$	—
Level 2
Excess Return Swaps		1,789,804		—		—		(518,728	)
Forward Currency Exchange Contracts		1,061,551		—		—		—
Total Level 2		2,851,355		—		—		(518,728	)
Level 3		—		—		—		—
Total	$	2,851,355	$	—	$	—	$	(518,728	)

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

DoubleLine Flexible Income Fund	Fair Value as of March 31, 2023		Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)(c)			Net Accretion (Amortization)		Purchases(a)		Sales(b)			Transfers Into Level 3(d)		Transfers Out of Level 3(d)		Fair Value as of December 31, 2023		Net Change in Unrealized Appreciation (Depreciation) on securities held at December 31, 2023(c)
Investments in Securities
Non-Agency Residential Collateralized Mortgage Obligations	$	7,119,685	$	19,905		$	(62,566	)	$	50,361	$	—	$	(240,820	)	$	—	$	—	$	6,886,565	$	(61,405	)
Collateralized Loan Obligations		1,520,905		—			142,401			541		17,577		—			2,869,101		—		4,550,525		155,719
Asset Backed Obligations		8,405,530		(883,975	)		(3,303,157	)		—		503,992		(624,245	)		—		—		4,098,145		(3,546,951	)
Non-Agency Commercial Mortgage Backed Obligations		983,389		2,068			66,025			5,618		—		(90,852	)		1,147,131		—		2,113,379		46,204
Common Stocks		290,300		(32,896	)		79,678			—		36,045		(184,511	)		—		—		188,616		(15,115	)
Bank Loans		107,055		291			(3,898	)		3,606		—		(996	)		—		—		106,058		(3,585	)
Foreign Corporate Bonds		—		—			—			—		77,112		—			—		—		77,112		—
Rights		6,138		6,966			(6,138	)		—		—		(6,966	)		—		—		—		—
Total	$	18,433,002	$	(887,641	)	$	(3,087,655	)	$	60,126	$	634,726	$	(1,148,390	)	$	4,093,344	$	—	$	18,020,400	$	(3,425,133	)

DoubleLine Income Fund	Fair Value as of March 31, 2023		Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)(c)		Net Accretion (Amortization)			Purchases(a)		Sales(b)			Transfers Into Level 3(d)		Transfers Out of Level 3(d)		Fair Value as of December 31, 2023		Net Change in Unrealized Appreciation (Depreciation) on securities held at December 31, 2023(c)
Investments in Securities
Asset Backed Obligations	$	4,079,163	$	(2,167,955	)	$	1,822,437	$	(251	)	$	156,580	$	(2,520,139	)	$	—	$	—	$	1,369,835	$	(497,680	)

^(a)  Purchases include all purchases of securities, payups and corporate actions.

^(b) Sales include all sales of securities, maturities, and paydowns.

^(c)  Any difference between Net Change in Unrealized Appreciation (Depreciation) and Net Change in Unrealized Appreciation (Depreciation) on securities held at December 31, 2023 may be due to a security that was not held or categorized as Level 3 at either period end.

^(d)  Transfers into or out of Level 3 can be attributed to changes in the availability of pricing sources and/or in the observability of significant inputs used to measure the fair value of those instruments.

The following is a summary of quantitative information about Level 3 Fair Value Measurements:

DoubleLine Flexible Income Fund	Fair Value as of December 31, 2023		Valuation Techniques	Unobservable Input	Unobservable Input Values (Weighted Average)(e)		Impact to valuation from an increase to input
Non-Agency Residential Collateralized Mortgage Obligations	$	6,886,565	Market Comparables	Market Quotes		$91.74 ($91.74)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Collateralized Loan Obligations	$	4,550,525	Market Comparables	Market Quotes		$22.92 - $90.18 ($84.54)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Asset Backed Obligations	$	4,098,145	Market Comparables	Market Quotes		$9.32 - $86.29 ($58.55)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Non-Agency Commercial Mortgage Backed Obligations	$	2,113,379	Market Comparables	Market Quotes		$10.52 - $80.07 ($55.75)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Common Stocks	$	188,616	Market Comparables	Market Quotes		$0.65 - $28.75 ($18.91)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Bank Loans	$	106,058	Market Comparables	Market Quotes		$100.00 ($100.00)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
Foreign Corporate Bonds	$	77,112	Market Comparables	Market Quotes		$0.00 - $91.64 ($74.26)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security
DoubleLine Income Fund	Fair Value as of December 31, 2023		Valuation Techniques	Unobservable Input	Unobservable Input Values (Weighted Average)(e)		Impact to valuation from an increase to input
Asset Backed Obligations	$	1,369,835	Market Comparables	Market Quotes		$13.75 - $4,800.90 ($1,636.13)	Significant changes in the market quotes would have resulted in direct and proportional changes in the fair value of the security

^(e)  Unobservable inputs were weighted by the relative fair value of the instruments.