NPORT-EX 2 DL_-_PART_F.htm PART F
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Unaudited)
December
31,
2024
|
December
31,
2024
1
P
RINCIPAL
A
MOUNT
$/S
HARES
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
ASSET
BACKED
OBLIGATIONS
9.5%
Aaset
LLC
,
536,088
Series
2022-1A-A
6.00%
(a)
05/16/2047
528,095
Aaset
Ltd.
,
687,934
Series
2024-2A-B
6.61%
(a)
09/16/2049
682,239
Aaset
Trust
,
420,952
Series
2021-2A-A
2.80%
(a)
01/15/2047
384,376
484,971
Series
2024-1A-A1
6.26%
(a)
05/16/2049
490,069
491,070
Series
2024-1A-B
6.90%
(a)
05/16/2049
499,347
Affirm
Asset
Securitization
Trust
,
88,200
Series
2023-X1-A
7.11%
(a)
11/15/2028
88,421
650,000
Series
2024-X1-B
6.34%
(a)
05/15/2029
655,347
Aligned
Data
Centers
Issuer
LLC
,
600,000
Series
2023-1A-A2
6.00%
(a)
08/17/2048
608,924
AMSR
Trust
,
2,100,000
Series
2023-SFR2-A
3.95%
(a)
06/17/2040
2,016,715
Avant
Loans
Funding
Trust
,
600,000
Series
2024-REV1-B
6.17%
(a)
10/15/2033
608,309
Business
Jet
Securities
LLC
,
486,160
Series
2024-2A-B
5.75%
(a)
09/15/2039
485,814
Carvana
Auto
Receivables
Trust
,
416,766
Series
2023-P5-A2
5.77%
(a)
04/12/2027
417,957
Cologix
Data
Centers
US
Issuer
LLC
,
750,000
Series
2021-1A-A2
3.30%
(a)
12/26/2051
712,511
Compass
Datacenters
Issuer
II
LLC
,
500,000
Series
2024-1A-B
7.00%
(a)
02/25/2049
504,210
250,000
Series
2024-2A-B2
6.00%
(a)
08/25/2049
245,766
CyrusOne
Data
Centers
Issuer
I
LLC
,
500,000
Series
2023-1A-A2
4.30%
(a)
04/20/2048
481,421
DataBank
Issuer
,
500,000
Series
2023-1A-A2
5.12%
(a)
02/25/2053
490,120
Diamond
Resorts
Owner
Trust
,
94,992
Series
2021-1A-A
1.51%
(a)
11/21/2033
92,817
Dividend
Solar
Loans
LLC
,
426,664
Series
2018-1-B
4.29%
(a)
07/20/2038
381,736
EWC
Master
Issuer
LLC
,
487,500
Series
2022-1A-A2
5.50%
(a)
03/15/2052
475,047
ExteNet
Issuer
LLC
,
500,000
Series
2024-1A-B
6.15%
(a)
07/25/2054
498,439
Hilton
Grand
Vacations
Trust
,
157,906
Series
2022-1D-C
4.69%
(a)
06/20/2034
154,723
Horizon
Aircraft
Finance
IV
Ltd.
,
493,750
Series
2024-1-A
5.38%
(a)
09/15/2049
480,646
Hyundai
Auto
Receivables
Trust
,
950,000
Series
2024-C-B
4.67%
01/15/2031
943,242
Invitation
Homes
Trust
,
1,167,000
Series
2024-SFR1-D
4.25%
(a)
09/17/2041
1,061,459
Jack
in
the
Box
Funding
LLC
,
236,250
Series
2022-1A-A2II
4.14%
(a)
02/26/2052
207,742
Lendbuzz
Securitization
Trust
,
320,343
Series
2022-1A-A
4.22%
(a)
05/17/2027
319,071
Lunar
Structured
Aircraft
Portfolio
Notes
,
738,965
Series
2021-1-A
2.64%
(a)
10/15/2046
675,028
MetroNet
Infrastructure
Issuer
LLC
,
300,000
Series
2023-1A-A2
6.56%
(a)
04/20/2053
307,842
Mosaic
Solar
Loan
Trust
,
505,108
Series
2018-2GS-A
4.20%
(a)
02/22/2044
471,676
Pagaya
AI
Debt
Trust
,
89,732
Series
2023-3-A
7.60%
(a)
12/16/2030
90,222
687,588
Series
2023-5-B
7.63%
(a)
04/15/2031
690,374
295,944
Series
2024-1-A
6.66%
(a)
07/15/2031
299,601
Pret
LLC
,
1,716,246
Series
2024-NPL6-A1
5.93%
(a)(b)
10/25/2054
1,709,004
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Progress
Residential
Trust
,
2,694,139
Series
2024-SFR2-A
3.30%
(a)
04/17/2041
2,502,893
2,500,000
Series
2024-SFR4-C
3.33%
(a)
07/17/2041
2,253,512
Prosper
Marketplace
Issuance
Trust
,
128,498
Series
2023-1A-A
7.06%
(a)
07/16/2029
128,796
Retained
Vantage
Data
Centers
Issuer
LLC
,
500,000
Series
2023-1A-B
5.75%
(a)
09/15/2048
489,831
Sabey
Data
Center
Issuer
LLC
,
650,000
Series
2024-1-A2
6.00%
(a)
04/20/2049
658,354
Santander
Drive
Auto
Receivables
Trust
,
48,037
Series
2020-4-D
1.48%
01/15/2027
47,935
SEB
Funding
LLC
,
498,750
Series
2021-1A-A2
4.97%
(a)
01/30/2052
486,815
SERVPRO
Master
Issuer
LLC
,
496,250
Series
2024-1A-A2
6.17%
(a)
01/25/2054
498,719
SMB
Private
Education
Loan
Trust
,
613,330
Series
2021-A-B
2.31%
(a)
01/15/2053
590,516
Subway
Funding
LLC
,
300,000
Series
2024-1A-A23
6.51%
(a)
07/30/2054
308,736
400,000
Series
2024-3A-A23
5.91%
(a)
07/30/2054
392,086
Switch
ABS
Issuer
LLC
,
500,000
Series
2024-2A-B
6.20%
(a)
06/25/2054
501,120
Textainer
Marine
Containers
VII
Ltd.
,
338,800
Series
2024-1A-A
5.25%
(a)
08/20/2049
333,621
Theorem
Funding
Trust
,
102,759
Series
2023-1A-A
7.58%
(a)
04/15/2029
103,695
TierPoint
Issuer
LLC
,
500,000
Series
2023-1A-A2
6.00%
(a)
06/25/2053
501,943
Tricon
Residential
Trust
,
2,000,000
Series
2024-SFR3-C
5.25%
(a)
08/17/2041
1,942,301
Upstart
Securitization
Trust
,
34,686
Series
2021-4-B
1.84%
(a)
09/20/2031
34,594
100,232
Series
2021-5-B
2.49%
(a)
11/20/2031
99,998
USQ
Rail
III
LLC
,
499,808
Series
2024-1A-A
4.99%
(a)
09/28/2054
482,913
VOLT
C
LLC
,
212,645
Series
2021-NP10-A1
4.99%
(a)(b)
05/25/2051
212,654
209,280
Series
2021-NPL9-A1
4.99%
(a)(b)
05/25/2051
208,642
Washington
Mutual
WMABS
Trust
,
3,524,167
Series
2007-HE2-
2A2
(CME
Term
SOFR
1
Month
+
0.55%,
0.44%
Floor)
4.89%
02/25/2037
1,093,764
Total
Asset
Backed
Obligations
(Cost
$32,270,729)
32,631,748
BANK
LOANS
3.0%
Access
CIG
LLC
,
46,770
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.00%,
0.50%
Floor)
9.59%
08/15/2028
47,284
Acrisure
LLC
,
194,811
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.50%,
0.50%
Floor)
7.36%
11/06/2030
195,374
2
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Acuris
Finance
U.S.,
Inc.
,
43,357
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.42%
02/16/2028
43,697
ADMI
Corp.
,
64,273
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.50%
Floor)
8.22%
12/23/2027
63,309
AI
Aqua
Merger
Sub,
Inc.
,
138,078
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
8.05%
07/31/2028
138,367
Air
Canada
,
44,663
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.00%)
6.34%
03/21/2031
44,928
Alliant
Holdings
Intermediate
LLC
,
109,175
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%)
7.11%
09/19/2031
109,591
Allied
Universal
Holdco
LLC
,
187,693
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.50%
Floor)
8.21%
05/12/2028
188,540
Allspring
Buyer
LLC
,
168,794
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%,
0.50%
Floor)
7.38%
11/01/2030
169,279
Alterra
Mountain
Co.
,
88,864
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%)
7.11%
08/17/2028
89,558
Altice
France
SA
,
29,773
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.50%)
10.16%
08/15/2028
23,990
Applied
Systems,
Inc.
,
10,000
Senior
Secured
Second
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.25%)
9.88%
02/23/2032
10,305
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Apro
LLC
,
59,850
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.27%
07/09/2031
60,511
Ascend
Learning
LLC
,
139,282
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.96%
12/11/2028
140,208
Aspire
Bakeries
Holdings
LLC
,
59,849
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.61%
12/22/2030
60,523
AssuredPartners,
Inc.
,
109,200
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
02/14/2031
109,558
Asurion
LLC
,
54,446
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.71%
08/21/2028
54,563
AthenaHealth
Group,
Inc.
,
188,288
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.61%
02/15/2029
189,129
Aveanna
Healthcare
LLC
,
203,760
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.36%
07/17/2028
202,398
Bausch
+
Lomb
Corp.
,
163,033
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.69%
05/10/2027
163,856
29,625
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%)
8.33%
09/29/2028
29,819
BCPE
Empire
Holdings,
Inc.
,
128,803
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
12/11/2028
129,676
|
December
31,
2024
3
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Belron
Finance
U.S.
LLC
,
59,850
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.75%,
0.50%
Floor)
7.27%
10/16/2031
60,495
Boxer
Parent
Co.,
Inc.
,
160,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.34%
07/30/2031
161,518
40,000
Senior
Secured
Second
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.75%)
10.34%
07/30/2032
39,467
Brand
Industrial
Services,
Inc.
,
49,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.50%,
0.50%
Floor)
9.07%
08/01/2030
48,377
Broadstreet
Partners,
Inc.
,
44,888
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.57%
06/16/2031
45,094
Brown
Group
Holding
LLC
,
34,808
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.50%,
0.50%
Floor)
7.12%
07/01/2031
34,980
Camelot
U.S.
Acquisition
LLC
,
43,205
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%)
7.11%
01/31/2031
43,226
Carnival
Corp.
,
13,359
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%,
0.75%
Floor)
7.11%
08/09/2027
13,473
Cengage
Learning,
Inc.
,
29,850
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%;
CME
Term
SOFR
3
Month
+
3.50%,
1.00%
Floor)
7.96%
11/24/2031
30,042
Central
Parent
LLC
,
189,525
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.90%
07/06/2029
187,263
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
CHG
Healthcare
Services,
Inc.
,
44,887
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%,
0.50%
Floor)
7.96%
09/29/2028
45,317
Cloud
Software
Group,
Inc.
,
44,506
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
8.02%
03/30/2029
44,694
35,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.08%
03/21/2031
35,156
ClubCorp
Holdings,
Inc.
,
30,643
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.00%)
9.33%
09/18/2026
30,774
Clydesdale
Acquisition
Holdings,
Inc.
,
33,029
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.18%,
0.50%
Floor)
7.75%
04/13/2029
33,132
Comma
BV
,
37,550
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.94%
12/17/2029
37,128
Construction
Partners,
Inc.
,
70,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.50%)
6.84%
11/03/2031
70,482
Cornerstone
Generation
LLC
,
100,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.25%)
7.65%
10/28/2031
101,000
Cotiviti,
Inc.
,
104,214
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.30%
05/01/2031
104,931
Crown
Finance
U.S.,
Inc.
,
30,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
5.25%)
9.80%
12/02/2031
30,052
4
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
CSC
Holdings
LLC
,
19,741
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
2.50%)
7.17%
04/15/2027
18,260
DCert
Buyer,
Inc.
,
44,314
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.00%)
8.36%
10/16/2026
42,683
Deerfield
Dakota
Holding
LLC
,
203,610
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
1.00%
Floor)
8.39%
04/09/2027
199,602
DexKo
Global,
Inc.
,
54,859
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.34%
10/04/2028
52,000
DG
Investment
Intermediate
Holdings
2,
Inc.
,
118,976
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.22%
03/31/2028
120,389
DIRECTV
Financing
LLC
,
10,366
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.00%,
0.75%
Floor)
9.85%
08/02/2027
10,419
EAB
Global,
Inc.
,
39,700
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.61%
08/16/2028
39,903
Eagle
Parent
Corp.
,
104,413
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.25%,
0.50%
Floor)
8.84%
04/02/2029
102,749
Edelman
Financial
Engines
Center
LLC
(The)
,
35,000
Senior
Secured
Second
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
5.25%)
9.61%
10/20/2028
35,361
Edgewater
Generation
LLC
,
38,974
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.61%
08/01/2030
39,573
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
EG
Group
Ltd.
,
34,737
Senior
Secured
First
Lien
Term
Loan
(TSFR1D
+
5.50%,
0.50%
Floor)
8.63%
02/07/2028
35,097
EMRLD
Borrower
LP
,
64,838
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.50%)
6.83%
08/04/2031
65,175
Fertitta
Entertainment
LLC
,
197,870
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
01/29/2029
198,850
First
Advantage
Holdings
LLC
,
124,247
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
10/31/2031
125,723
Focus
Financial
Partners
LLC
,
176,088
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
09/11/2031
177,925
Frontdoor,
Inc.
,
10,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.25%)
6.61%
12/19/2031
10,050
Frontier
Communications
Holdings
LLC
,
69,825
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
3.50%)
8.76%
07/01/2031
70,785
Gainwell
Acquisition
Corp.
,
207,980
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%,
0.75%
Floor)
8.69%
10/01/2027
201,971
Garda
World
Security
Corp.
,
84,357
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%)
7.90%
02/01/2029
84,832
GBT
U.S.
III
LLC
,
30,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.63%
07/28/2031
30,184
|
December
31,
2024
5
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
GIP
Pilot
Acquisition
Partners
LP
,
19,867
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.50%)
7.09%
10/04/2030
20,016
Golden
State
Foods
LLC
,
35,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.77%
12/04/2031
35,355
Gray
Television,
Inc.
,
25,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.67%
12/01/2028
23,167
Great
Outdoors
Group
LLC
,
98,724
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.22%
03/06/2028
99,391
Grifols
Worldwide
Operations
USA,
Inc.
,
17,457
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.00%)
6.74%
11/15/2027
17,414
Hamilton
Projects
Acquiror
LLC
,
14,963
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%)
8.32%
05/30/2031
15,098
Hexion
Holdings
Corp.
,
119,396
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.00%,
0.50%
Floor)
8.45%
03/15/2029
119,611
Hightower
Holding
LLC
,
104,475
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%)
8.07%
04/21/2028
105,171
Husky
Injection
Molding
Systems
Ltd.
,
149,362
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
4.50%)
8.78%
02/15/2029
150,810
INEOS
U.S.
Finance
LLC
,
104,213
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
02/18/2030
104,808
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
44,888
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%)
7.52%
02/07/2031
45,309
INEOS
U.S.
Petrochem
LLC
,
74,438
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.71%
04/02/2029
75,088
50,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.61%
10/07/2031
50,563
Kodiak
Building
Partners
LLC
,
5,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%)
8.27%
12/04/2031
5,010
Kronos
Acquisition
Holdings,
Inc.
,
54,863
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%)
8.58%
06/27/2031
51,948
LBM
Acquisition
LLC
,
144,200
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.30%
06/06/2031
143,209
Life
Time,
Inc.
,
50,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.50%)
7.03%
10/22/2031
50,263
LifePoint
Health,
Inc.
,
139,301
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.41%
05/19/2031
139,969
Lightning
Power
LLC
,
60,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.74%
08/18/2031
60,758
Lumen
Technologies,
Inc.
,
24,937
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.35%)
6.82%
04/16/2029
23,499
Lummus
Technology
Holdings
V
LLC
,
66,176
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.36%
12/31/2029
66,766
6
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Madison
Safety
&
Flow
LLC
,
34,913
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
09/26/2031
35,213
McAfee
Corp.
,
44,661
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.37%
03/01/2029
44,756
Medline
Borrower
LP
,
49,875
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.25%,
0.50%
Floor)
6.61%
10/23/2028
50,107
MH
Sub
I
LLC
,
40,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
4.25%)
8.42%
12/11/2031
39,712
Mitchell
International,
Inc.
,
169,575
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.61%
06/17/2031
169,876
35,000
Senior
Secured
Second
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
5.25%,
0.50%
Floor)
9.61%
06/07/2032
34,708
Natgasoline
LLC
,
49,620
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
3.50%)
9.02%
11/14/2025
49,372
NEP
Group,
Inc.
,
109,343
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
8.13%
08/19/2026
100,210
nVent
Electric
plc
,
75,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.50%)
8.24%
09/12/2031
75,914
Olympus
Water
U.S.
Holding
Corp.
,
104,738
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%,
0.50%
Floor)
7.34%
06/20/2031
105,196
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
OneDigital
Borrower
LLC
,
119,400
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.61%
07/02/2031
119,851
40,000
Senior
Secured
Second
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
5.25%,
0.50%
Floor)
9.61%
07/02/2032
39,913
Ontario
Gaming
GTA
LP
,
29,700
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.25%,
0.50%
Floor)
8.84%
08/01/2030
29,798
OVG
Business
Services
LLC
,
54,863
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.36%
06/25/2031
55,068
PAREXEL
International,
Inc.
,
108,594
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.36%
11/15/2028
109,477
Penn
Entertainment,
Inc.
,
127,436
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.50%,
0.50%
Floor)
6.86%
05/03/2029
128,114
Peraton
Corp.
,
44,881
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.21%
02/01/2028
41,875
PetSmart
LLC
,
117,868
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.21%
02/11/2028
117,622
Playa
Resorts
Holding
BV
,
59,095
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%,
0.50%
Floor)
7.11%
01/05/2029
59,223
|
December
31,
2024
7
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
PointClickCare
Technologies,
Inc.
,
90,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.58%
11/03/2031
90,675
Polaris
Newco
LLC
,
119,575
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%,
0.50%
Floor)
8.85%
06/02/2028
119,942
Pregis
TopCo
LLC
,
49,223
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.00%)
8.36%
07/31/2026
49,605
Proofpoint,
Inc.
,
127,285
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.36%
08/31/2028
128,049
Quikrete
Holdings,
Inc.
,
24,624
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.25%)
6.61%
03/19/2029
24,639
Radiology
Partners,
Inc.
,
120,108
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%)
8.28%
01/31/2029
118,797
RealPage,
Inc.
,
30,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.08%
04/24/2028
30,178
Sabre
GLBL,
Inc.
,
14,047
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
1.00%
Floor)
7.97%
12/17/2027
13,696
12,425
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
6.00%,
1.50%
Floor)
10.36%
11/15/2029
12,177
28,528
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
6.00%,
1.50%
Floor)
10.46%
11/15/2029
28,456
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Sandisk
Corp.
,
20,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.00%)
7.17%
02/09/2032
19,694
Sedgwick
Claims
Management
Services,
Inc.
,
84,788
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.59%
07/31/2031
85,403
Select
Medical
Corp.
,
50,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.00%)
6.53%
12/03/2031
50,229
Signia
Aerospace
LLC
,
106,154
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.40%
11/21/2031
106,353
Six
Flags
Entertainment
Corp.
,
39,800
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.00%)
6.36%
05/01/2031
39,974
Sotera
Health
Holdings
LLC
,
109,725
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.84%
05/30/2031
110,137
Southern
Veterinary
Partners
LLC
,
110,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.71%
12/04/2031
110,915
Station
Casinos
LLC
,
39,700
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.00%)
6.38%
03/14/2031
39,809
StubHub
Holdco
Sub
LLC
,
118,918
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.75%)
9.11%
03/15/2030
119,364
SWF
Holdings
I
Corp.
,
19,633
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.00%,
0.75%
Floor)
8.69%
10/06/2028
16,099
8
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Team
Health
Holdings,
Inc.
,
49,856
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.25%,
1.00%
Floor)
9.84%
03/02/2027
48,342
Tempur
Sealy
International,
Inc.
,
250,000
Senior
Secured
First
Lien
Term
Loan
(TSFR1D
+
2.50%)
6.84%
10/24/2031
251,014
TransDigm,
Inc.
,
49,626
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.50%)
6.83%
02/28/2031
49,767
Triton
Water
Holdings,
Inc.
,
163,728
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%,
0.50%
Floor)
8.12%
03/31/2028
165,222
UFC
Holdings
LLC
,
60,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.25%)
6.77%
11/14/2031
60,406
Vantage
Specialty
Chemicals,
Inc.
,
104,733
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.75%,
0.50%
Floor)
9.11%
10/26/2026
103,816
Verde
Purchaser
LLC
,
24,937
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.50%)
9.13%
11/30/2030
25,046
Vestis
Corp.
,
29,094
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.25%)
6.76%
02/24/2031
29,203
Vizient,
Inc.
,
53,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.00%,
0.50%
Floor)
6.36%
08/01/2031
54,095
Wand
NewCo
3,
Inc.
,
63,482
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
01/30/2031
63,821
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
WaterBridge
Midstream
Operating
LLC
,
19,950
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.75%)
9.08%
06/21/2029
19,900
WestJet
Loyalty
LP
,
79,400
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.58%
02/14/2031
79,826
White
Cap
Supply
Holdings
LLC
,
55,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.82%
10/19/2029
55,174
Zayo
Group
Holdings,
Inc.
,
25,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.47%
03/09/2027
23,470
Zelis
Payments
Buyer,
Inc.
,
70,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
11/26/2031
70,335
Total
Bank
Loans
(Cost
$10,256,565)
10,345,451
COLLATERALIZED
LOAN
OBLIGATIONS
4.6%
37
Capital
CLO
4
Ltd.
,
500,000
Series
2023-2A-B
(CME
Term
SOFR
3
Month
+
2.75%,
2.75%
Floor)
7.41%
(a)
01/15/2034
500,025
AIMCO
CLO
21
Ltd.
,
500,000
Series
2024-21A-D1
(CME
Term
SOFR
3
Month
+
3.15%,
3.15%
Floor)
7.78%
(a)
04/18/2037
510,377
AREIT
Ltd.
,
200,000
Series
2024-CRE9-B
(CME
Term
SOFR
1
Month
+
2.54%,
2.54%
Floor)
6.93%
(a)
05/17/2041
200,391
Bain
Capital
Credit
CLO
Ltd.
,
500,000
Series
2023-4A-C
(CME
Term
SOFR
3
Month
+
2.90%,
2.90%
Floor)
7.52%
(a)
10/21/2036
505,345
BDS
LLC
,
280,000
Series
2022-FL11-B
(CME
Term
SOFR
1
Month
+
2.35%,
2.35%
Floor)
6.72%
(a)
03/19/2039
282,077
Benefit
Street
Partners
CLO
XXXVI
Ltd.
,
500,000
Series
2024-36A-D1
(CME
Term
SOFR
3
Month
+
2.95%,
2.95%
Floor)
7.36%
(a)
01/25/2038
510,388
|
December
31,
2024
9
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
BRSP
Ltd.
,
200,745
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.26%,
1.15%
Floor)
5.63%
(a)
08/19/2038
200,128
BSPRT
Issuer
Ltd.
,
270,000
Series
2023-FL10-B
(CME
Term
SOFR
1
Month
+
3.27%,
3.27%
Floor)
7.66%
(a)
09/15/2035
272,617
Captree
Park
CLO
Ltd.
,
500,000
Series
2024-1A-D
(CME
Term
SOFR
3
Month
+
3.25%,
3.25%
Floor)
7.87%
(a)
07/20/2037
510,451
CBAM
Ltd.
,
500,000
Series
2017-2A-BR
(CME
Term
SOFR
3
Month
+
2.11%,
1.85%
Floor)
6.76%
(a)
07/17/2034
502,601
Eaton
Vance
CLO
Ltd.
,
500,000
Series
2013-1A-A23R
(CME
Term
SOFR
3
Month
+
1.81%,
1.55%
Floor)
6.47%
(a)
01/15/2034
501,581
Elmwood
CLO
28
Ltd.
,
500,000
Series
2024-4A-D
(CME
Term
SOFR
3
Month
+
3.30%,
3.30%
Floor)
8.64%
(a)
04/17/2037
510,427
Elmwood
CLO
XII
Ltd.
,
500,000
Series
2021-5A-D1R
(CME
Term
SOFR
3
Month
+
3.10%,
3.10%
Floor)
7.67%
(a)
10/15/2037
511,810
Empower
CLO
Ltd.
,
500,000
Series
2023-2A-B
(CME
Term
SOFR
3
Month
+
2.75%,
2.75%
Floor)
7.41%
(a)
07/15/2036
507,120
Greystone
CRE
Notes
Ltd.
,
240,000
Series
2021-FL3-B
(CME
Term
SOFR
1
Month
+
1.76%,
1.65%
Floor)
6.16%
(a)
07/15/2039
239,225
KREF
Ltd.
,
210,000
Series
2021-FL2-AS
(CME
Term
SOFR
1
Month
+
1.41%,
1.30%
Floor)
5.80%
(a)
02/15/2039
207,287
LoanCore
Issuer
Ltd.
,
151,200
Series
2021-CRE5-A
(CME
Term
SOFR
1
Month
+
1.41%,
1.41%
Floor)
5.81%
(a)
07/15/2036
151,312
303,890
Series
2021-CRE6-A
(CME
Term
SOFR
1
Month
+
1.41%,
1.30%
Floor)
5.81%
(a)
11/15/2038
303,969
Marble
Point
CLO
XI
Ltd.
,
500,000
Series
2017-2A-B
(CME
Term
SOFR
3
Month
+
1.76%,
1.50%
Floor)
6.39%
(a)
12/18/2030
500,177
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
MF1
Multifamily
Housing
Mortgage
Loan
Trust
,
114,651
Series
2021-FL7-A
(CME
Term
SOFR
1
Month
+
1.19%,
1.08%
Floor)
5.57%
(a)
10/16/2036
114,422
260,000
Series
2024-FL14-
AS
(CME
Term
SOFR
1
Month
+
2.24%,
2.24%
Floor)
6.61%
(a)
03/19/2039
261,268
280,000
Series
2024-FL15-A
(CME
Term
SOFR
1
Month
+
1.69%,
1.69%
Floor)
6.06%
(a)
08/18/2041
281,031
Midocean
Credit
CLO
IX
,
500,000
Series
2018-9A-D
(CME
Term
SOFR
3
Month
+
3.56%,
3.30%
Floor)
8.18%
(a)
07/20/2031
503,869
Octagon
Investment
Partners
45
Ltd.
,
500,000
Series
2019-1A-BR
(CME
Term
SOFR
3
Month
+
1.85%,
1.85%
Floor)
6.51%
(a)
04/15/2035
501,178
Park
Avenue
Institutional
Advisers
CLO
Ltd.
,
500,000
Series
2018-1A-BR
(CME
Term
SOFR
3
Month
+
2.36%,
2.10%
Floor)
6.98%
(a)
10/20/2031
500,559
Race
Point
IX
CLO
Ltd.
,
1,000,000
Series
2015-9A-BR
(CME
Term
SOFR
3
Month
+
2.41%,
0.26%
Floor)
7.07%
(a)
10/15/2030
1,004,449
Sound
Point
CLO
XXXI
Ltd.
,
500,000
Series
2021-3A-D
(CME
Term
SOFR
3
Month
+
3.51%,
3.25%
Floor)
8.14%
(a)
10/25/2034
502,796
Steele
Creek
CLO
Ltd.
,
325,813
Series
2017-1A-A
(CME
Term
SOFR
3
Month
+
1.51%)
6.17%
(a)
10/15/2030
326,292
STWD
Ltd.
,
6,308
Series
2019-FL1-AS
(CME
Term
SOFR
1
Month
+
1.51%,
1.51%
Floor)
5.91%
(a)
07/15/2038
6,265
104,001
Series
2021-FL2-A
(CME
Term
SOFR
1
Month
+
1.31%,
1.20%
Floor)
5.69%
(a)
04/18/2038
103,644
TRTX
Issuer
Ltd.
,
123,887
Series
2021-FL4-A
(CME
Term
SOFR
1
Month
+
1.31%,
1.20%
Floor)
5.70%
(a)
03/15/2038
123,857
Venture
XXVI
CLO
Ltd.
,
500,000
Series
2017-26A-BR
(CME
Term
SOFR
3
Month
+
1.96%,
1.70%
Floor)
6.58%
(a)
01/20/2029
499,500
10
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Vibrant
CLO
IV-R
Ltd.
,
500,000
Series
2024-4RA-D1
(CME
Term
SOFR
3
Month
+
3.75%,
3.75%
Floor)
8.35%
(a)
10/20/2037
512,215
Voya
CLO
Ltd.
,
1,000,000
Series
2013-1A-BR
(CME
Term
SOFR
3
Month
+
2.16%)
6.82%
(a)
10/15/2030
1,003,506
500,000
Series
2014-4A-CR2
(CME
Term
SOFR
3
Month
+
3.61%)
8.27%
(a)
07/14/2031
502,894
Wellfleet
CLO
Ltd.
,
500,000
Series
2017-3A-A2
(CME
Term
SOFR
3
Month
+
1.76%,
1.50%
Floor)
6.41%
(a)
01/17/2031
500,746
Wind
River
CLO
Ltd.
,
1,000,000
Series
2021-1A-D1R
(CME
Term
SOFR
3
Month
+
3.95%,
3.95%
Floor)
8.57%
(a)
07/20/2037
1,025,269
Total
Collateralized
Loan
Obligations
(Cost
$15,351,122)
15,701,068
FOREIGN
CORPORATE
BONDS
7.0%
AUSTRALIA
0.3%
200,000
AngloGold
Ashanti
Holdings
plc
3.38%
11/01/2028
184,897
195,000
Glencore
Funding
LLC
1.63%
(a)
04/27/2026
187,109
354,000
Glencore
Funding
LLC
5.37%
(a)
04/04/2029
356,974
196,000
Westpac
Banking
Corp.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.20%)
5.62%
11/20/2035
192,719
921,699
BERMUDA
0.1%
417,000
Triton
Container
International
Ltd.
3.25%
03/15/2032
354,488
BRAZIL
0.8%
236,198
Acu
Petroleo
Luxembourg
Sarl
7.50%
01/13/2032
233,374
200,000
Banco
do
Brasil
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
10
Year
+
4.40%)
8.75%
(c)
04/15/2025
200,539
200,000
Banco
do
Estado
do
Rio
Grande
do
Sul
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.93%)
5.38%
01/28/2031
197,318
250,000
Cosan
Overseas
Ltd.
8.25%
(c)
02/05/2025
250,000
200,000
CSN
Resources
SA
5.88%
04/08/2032
161,583
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
319,460
Guara
Norte
Sarl
5.20%
06/15/2034
291,849
200,000
LD
Celulose
International
GmbH
7.95%
(a)
01/26/2032
200,703
200,000
Movida
Europe
SA
7.85%
(a)
04/11/2029
176,464
300,840
MV24
Capital
BV
6.75%
06/01/2034
285,533
297,830
Prumo
Participacoes
e
Investimentos
S/A
7.50%
12/31/2031
296,079
400,000
Simpar
Europe
SA
5.20%
01/26/2031
300,793
173,000
Vale
Overseas
Ltd.
6.40%
06/28/2054
170,262
2,764,497
CANADA
0.5%
330,000
Bank
of
Montreal
(5
Year
Swap
Rate
USD
+
1.43%)
3.80%
12/15/2032
315,746
91,000
Bombardier,
Inc.
7.88%
(a)
04/15/2027
91,194
75,000
Bombardier,
Inc.
8.75%
(a)
11/15/2030
80,714
25,000
Bombardier,
Inc.
7.00%
(a)
06/01/2032
25,463
30,000
Garda
World
Security
Corp.
4.63%
(a)
02/15/2027
29,164
35,000
Garda
World
Security
Corp.
6.00%
(a)
06/01/2029
33,219
80,000
Garda
World
Security
Corp.
8.25%
(a)
08/01/2032
81,398
335,000
Husky
Injection
Molding
Systems
Ltd.
9.00%
(a)
02/15/2029
350,161
70,000
Kronos
Acquisition
Holdings,
Inc.
8.25%
(a)
06/30/2031
66,838
113,000
South
Bow
Canadian
Infrastructure
Holdings
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.67%)
7.50%
(a)
03/01/2055
116,951
65,000
South
Bow
USA
Infrastructure
Holdings
LLC
4.91%
(a)
09/01/2027
64,802
398,000
Videotron
Ltd.
5.70%
(a)
01/15/2035
391,126
1,646,776
CAYMAN
ISLANDS
0.1%
90,000
Azorra
Finance
Ltd.
7.75%
(a)
04/15/2030
89,567
345,000
Global
Aircraft
Leasing
Co.
Ltd.
8.75%
(a)
09/01/2027
352,294
441,861
CHILE
0.2%
400,000
CAP
SA
3.90%
04/27/2031
322,800
197,619
Chile
Electricity
PEC
SpA
0.00%
01/25/2028
166,593
235,360
GNL
Quintero
SA
4.63%
07/31/2029
232,335
721,728
COLOMBIA
0.5%
177,083
AL
Candelaria
Spain
SA
7.50%
12/15/2028
174,997
250,000
AL
Candelaria
Spain
SA
5.75%
06/15/2033
203,336
200,000
Aris
Mining
Corp.
8.00%
(a)
10/31/2029
198,167
|
December
31,
2024
11
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
200,000
Bancolombia
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.32%)
8.63%
12/24/2034
209,597
200,000
Canacol
Energy
Ltd.
5.75%
11/24/2028
111,568
200,000
Empresas
Publicas
de
Medellin
ESP
4.25%
07/18/2029
178,915
171,860
Fideicomiso
PA
Pacifico
Tres
8.25%
01/15/2035
171,430
200,000
Termocandelaria
Power
SA
7.75%
(a)
09/17/2031
202,412
200,000
Transportadora
de
Gas
Internacional
SA
ESP
5.55%
11/01/2028
195,564
1,645,986
DOMINICAN
REPUBLIC
0.1%
200,000
Aeropuertos
Dominicanos
Siglo
XXI
SA
7.00%
(a)
06/30/2034
204,250
GUATEMALA
0.3%
350,000
Banco
Industrial
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.44%)
4.88%
01/29/2031
343,525
400,000
Energuate
Trust
5.88%
05/03/2027
391,732
180,000
Millicom
International
Cellular
SA
6.25%
03/25/2029
177,235
912,492
INDIA
0.5%
166,000
Adani
International
Container
Terminal
Pvt.
Ltd.
3.00%
02/16/2031
136,784
400,000
Adani
Ports
&
Special
Economic
Zone
Ltd.
4.20%
08/04/2027
362,093
145,000
Adani
Transmission
Step-One
Ltd.
4.25%
05/21/2036
112,707
442,500
JSW
Hydro
Energy
Ltd.
4.13%
05/18/2031
399,588
200,000
JSW
Infrastructure
Ltd.
4.95%
01/21/2029
192,988
400,000
Network
i2i
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.27%)
5.65%
(c)
01/15/2025
400,941
200,000
UPL
Corp.
Ltd.
4.50%
03/08/2028
185,735
1,790,836
INDONESIA
0.4%
200,000
Bank
Negara
Indonesia
Persero
Tbk.
PT
3.75%
03/30/2026
195,338
200,000
Freeport
Indonesia
PT
4.76%
04/14/2027
198,282
400,000
Indonesia
Asahan
Aluminium
PT
4.75%
05/15/2025
399,308
200,000
Medco
Laurel
Tree
Pte.
Ltd.
6.95%
11/12/2028
199,362
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
200,000
Medco
Oak
Tree
Pte.
Ltd.
7.38%
05/14/2026
203,781
300,000
Pertamina
Persero
PT
1.40%
02/09/2026
287,554
1,483,625
IRELAND
0.2%
530,000
Avolon
Holdings
Funding
Ltd.
5.75%
(a)
03/01/2029
535,919
140,000
GGAM
Finance
Ltd.
6.88%
(a)
04/15/2029
142,113
678,032
KUWAIT
0.1%
200,000
MEGlobal
Canada
ULC
5.00%
05/18/2025
199,682
LUXEMBOURG
0.1%
169,000
ArcelorMittal
SA
6.00%
06/17/2034
172,097
MEXICO
0.8%
200,000
Banco
Mercantil
del
Norte
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.64%)
5.88%
(c)
01/24/2027
191,077
200,000
Banco
Mercantil
del
Norte
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.07%)
8.38%
(a)(c)
05/20/2031
199,787
200,000
Banco
Nacional
de
Comercio
Exterior
SNC
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.00%)
2.72%
08/11/2031
184,396
200,000
Banco
Santander
Mexico
SA
Institucion
de
Banca
Multiple
Grupo
Financiero
Santand
5.62%
(a)
12/10/2029
199,500
200,000
Buffalo
Energy
Mexico
Holdings
7.88%
(a)
02/15/2039
206,435
384,000
Cometa
Energia
SA
de
CV
6.38%
04/24/2035
379,901
200,000
Comision
Federal
de
Electricidad
3.35%
02/09/2031
165,874
200,000
Comision
Federal
de
Electricidad
6.45%
(a)
01/24/2035
188,994
400,000
FIEMEX
Energia
-
Banco
Actinver
SA
Institucion
de
Banca
Multiple
7.25%
(a)
01/31/2041
392,279
400,000
KUO
SAB
de
CV
5.75%
07/07/2027
389,019
231,024
Mexico
Generadora
de
Energia
S
de
rl
5.50%
12/06/2032
224,001
100,000
Petroleos
Mexicanos
6.75%
09/21/2047
68,822
12
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
346,908
Tierra
Mojada
Luxembourg
II
Sarl
5.75%
12/01/2040
317,719
3,107,804
PANAMA
0.1%
250,000
Banco
Nacional
de
Panama
2.50%
08/11/2030
199,131
200,000
Multibank,
Inc.
7.75%
02/03/2028
202,907
402,038
PARAGUAY
0.4%
150,000
Banco
Continental
SAECA
2.75%
12/10/2025
145,128
633,430
Bioceanico
Sovereign
Certificate
Ltd.
0.00%
06/05/2034
489,642
200,000
Frigorifico
Concepcion
SA
7.70%
07/21/2028
155,275
480,000
Rutas
2
&
7
Finance
Ltd.
0.00%
09/30/2036
341,113
300,000
Telefonica
Celular
del
Paraguay
SA
5.88%
04/15/2027
297,629
1,428,787
PERU
0.8%
250,000
Banco
de
Credito
del
Peru
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%)
3.13%
07/01/2030
245,300
141,000
Banco
de
Credito
del
Peru
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.00%)
3.13%
(a)
07/01/2030
138,350
150,000
Banco
de
Credito
del
Peru
SA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.45%)
3.25%
09/30/2031
142,234
400,000
Banco
Internacional
del
Peru
SAA
Interbank
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.71%)
4.00%
07/08/2030
395,058
400,000
Cia
de
Minas
Buenaventura
SAA
5.50%
07/23/2026
399,970
300,000
InRetail
Consumer
3.25%
03/22/2028
275,512
310,000
InRetail
Shopping
Malls
5.75%
04/03/2028
306,982
200,000
Intercorp
Financial
Services,
Inc.
4.13%
10/19/2027
191,451
165,457
Lima
Metro
Line
2
Finance
Ltd.
5.88%
07/05/2034
165,167
246,312
Lima
Metro
Line
2
Finance
Ltd.
4.35%
04/05/2036
226,471
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
209,000
Orazul
Energy
Peru
SA
5.63%
04/28/2027
203,884
200,000
Petroleos
del
Peru
SA
5.63%
06/19/2047
128,363
160,000
Transportadora
de
Gas
del
Peru
SA
4.25%
04/30/2028
156,914
2,975,656
SINGAPORE
0.3%
300,000
DBS
Group
Holdings
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.10%)
1.82%
03/10/2031
288,845
400,000
Oversea-Chinese
Banking
Corp.
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.58%)
1.83%
09/10/2030
390,729
400,000
United
Overseas
Bank
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.23%)
2.00%
10/14/2031
379,236
1,058,810
SOUTH
AFRICA
0.1%
200,000
Gold
Fields
Orogen
Holdings
BVI
Ltd.
6.13%
05/15/2029
202,661
200,000
Sasol
Financing
USA
LLC
4.38%
09/18/2026
192,104
394,765
UNITED
KINGDOM
0.2%
372,000
BAT
Capital
Corp.
4.54%
08/15/2047
293,752
234,000
Macquarie
Airfinance
Holdings
Ltd.
5.15%
(a)
03/17/2030
229,305
150,000
Macquarie
Airfinance
Holdings
Ltd.
6.50%
(a)
03/26/2031
155,444
678,501
VIETNAM
0.1%
190,613
Mong
Duong
Finance
Holdings
BV
5.13%
05/07/2029
183,356
Total
Foreign
Corporate
Bonds
(Cost
$23,953,495)
24,167,766
FOREIGN
GOVERNMENT
BONDS,
FOREIGN
AGENCIES
AND
FOREIGN
GOVERNMENT
SPONSORED
CORPORATIONS
0.3%
COLOMBIA
0.1%
250,000
Republic
of
Colombia
3.88%
04/25/2027
239,579
GUATEMALA
0.0%
(d)
200,000
Republic
of
Guatemala
4.38%
06/05/2027
192,800
200,000
Republic
of
Guatemala
4.88%
02/13/2028
193,350
386,150
|
December
31,
2024
13
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
PANAMA
0.1%
200,000
Republic
of
Panama
3.88%
03/17/2028
184,956
PARAGUAY
0.1%
200,000
Republic
of
Paraguay
4.70%
03/27/2027
196,700
Total
Foreign
Government
Bonds,
Foreign
Agencies
and
Foreign
Government
Sponsored
Corporations
(Cost
$1,014,680)
1,007,385
NON-AGENCY
COMMERCIAL
MORTGAGE
BACKED
OBLIGATIONS
5.0%
BANK
,
300,000
Series
2018-BN11-C
4.37%
(e)
03/15/2061
274,599
200,000
Series
2018-BN14-A3
3.97%
09/15/2060
193,137
160,000
Series
2019-BN23-A3
2.92%
12/15/2052
144,103
220,000
Series
2021-BN32-A4
2.35%
04/15/2054
190,554
260,445
Series
2021-BN33-A5
2.56%
05/15/2064
223,453
300,000
Series
2021-BN38-A5
2.52%
12/15/2064
252,272
307,000
Series
2022-BNK43-C
5.23%
(e)
08/15/2055
270,449
6,000,288
Series
2023-BNK46-XA
0.62%
(e)(f)
08/15/2056
224,512
Bank
of
America
Merrill
Lynch
Commercial
Mortgage
Trust
,
266,000
Series
2016-UB10-C
4.82%
(e)
07/15/2049
256,076
197,912
Series
2017-BNK3-A3
3.31%
02/15/2050
192,247
BANK5
,
11,909,345
Series
2023-5YR1-XA
0.27%
(e)(f)
04/15/2056
100,908
326,000
Series
2024-5YR10-AS
5.64%
10/15/2057
329,595
302,000
Series
2024-5YR9-A3
5.61%
08/15/2057
307,532
BBCMS
Mortgage
Trust
,
300,000
Series
2021-C11-ASB
2.11%
09/15/2054
271,597
300,000
Series
2021-C12-A5
2.69%
11/15/2054
257,056
180,000
Series
2021-C12-AS
2.90%
11/15/2054
151,705
250,000
Series
2021-C9-A5
2.30%
02/15/2054
213,029
100,000
Series
2022-C16-A5
4.60%
(e)
06/15/2055
96,224
200,000
Series
2022-C17-A5
4.44%
09/15/2055
190,953
250,000
Series
2023-C19-A5
5.45%
04/15/2056
253,360
314,000
Series
2024-5C29-A3
5.21%
09/15/2057
315,311
Benchmark
Mortgage
Trust
,
6,953,350
Series
2018-B2-XA
0.45%
(e)(f)
02/15/2051
73,537
350,000
Series
2019-B13-A3
2.70%
08/15/2057
316,111
147,445
Series
2019-B14-ASB
2.96%
12/15/2062
141,497
310,000
Series
2019-B15-A4
2.67%
12/15/2072
276,564
250,000
Series
2021-B31-A5
2.67%
12/15/2054
212,611
250,000
Series
2022-B35-C
4.44%
(e)
05/15/2055
195,034
305,000
Series
2022-B37-C
5.75%
(e)
11/15/2055
273,094
200,000
Series
2023-B38-A4
5.52%
04/15/2056
203,770
7,093,757
Series
2023-V3-XA
0.81%
(e)(f)
07/15/2056
178,768
320,000
Series
2024-V10-A3
5.28%
09/15/2057
321,358
274,000
Series
2024-V8-A2
5.71%
07/15/2057
280,642
300,000
Series
2024-V9-A3
5.60%
08/15/2057
305,215
BMO
Mortgage
Trust
,
225,000
Series
2024-5C3-AS
6.29%
(e)
02/15/2057
231,526
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
309,000
Series
2024-5C6-A3
5.32%
09/15/2057
310,201
223,000
Series
2024-5C7-AS
5.89%
(e)
11/15/2057
226,707
BPR
Trust
,
251,000
Series
2021-TY-A
(CME
Term
SOFR
1
Month
+
1.16%,
1.05%
Floor)
5.56%
(a)
09/15/2038
250,218
Cantor
Commercial
Real
Estate
Lending
,
500,000
Series
2019-CF1-C
4.35%
(e)
05/15/2052
383,414
CFCRE
Commercial
Mortgage
Trust
,
184,634
Series
2016-C6-A2
2.95%
11/10/2049
180,082
Citigroup
Commercial
Mortgage
Trust
,
246,734
Series
2015-GC27-C
4.39%
(e)
02/10/2048
244,975
311,815
Series
2017-P7-A3
3.44%
04/14/2050
302,656
289,814
Series
2018-B2-A3
3.74%
03/10/2051
280,829
272,432
Series
2018-C5-A3
3.96%
06/10/2051
263,164
100,000
Series
2022-GC48-A5
4.58%
(e)
05/15/2054
96,981
Commercial
Mortgage
Trust
,
205,000
Series
2016-DC2-C
4.66%
(e)
02/10/2049
198,343
CSMC
Trust
,
273,000
Series
2021-B33-A2
3.17%
(a)
10/10/2043
231,912
DBJPM
Mortgage
Trust
,
290,000
Series
2016-C1-B
4.20%
(e)
05/10/2049
271,199
250,000
Series
2020-C9-ASB
1.88%
08/15/2053
229,256
Del
Amo
Fashion
Center
Trust
,
250,000
Series
2017-AMO-C
3.64%
(a)(e)
06/05/2035
228,456
FIVE
Mortgage
Trust
,
250,000
Series
2023-V1-D
6.30%
(a)(e)
02/10/2056
236,835
GS
Mortgage
Securities
Corp.
Trust
,
250,000
Series
2023-SHIP-A
4.32%
(a)(e)
09/10/2038
246,853
GS
Mortgage
Securities
Trust
,
9,316,033
Series
2017-GS7-XA
1.07%
(e)(f)
08/10/2050
193,546
250,000
Series
2019-GC42-A3
2.75%
09/10/2052
225,535
250,000
Series
2019-GSA1-C
3.80%
(e)
11/10/2052
218,367
HTL
Commercial
Mortgage
Trust
,
250,000
Series
2024-T53-A
5.88%
(a)(e)
05/10/2039
251,501
J.P.
Morgan
Chase
Commercial
Mortgage
Securities
Trust
,
292,884
Series
2022-NLP-A
(CME
Term
SOFR
1
Month
+
0.60%,
0.60%
Floor)
4.99%
(a)
04/15/2037
286,667
JPMCC
Commercial
Mortgage
Securities
Trust
,
7,940,773
Series
2017-JP6-XA
1.01%
(e)(f)
07/15/2050
130,636
LSTAR
Commercial
Mortgage
Trust
,
23,349
Series
2015-3-D
3.40%
(a)(e)
04/20/2048
23,180
MF1
Multifamily
Housing
Mortgage
Loan
Trust
,
300,000
Series
2021-FL5-AS
(CME
Term
SOFR
1
Month
+
1.31%,
1.31%
Floor)
5.70%
(a)
07/15/2036
299,991
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
,
250,000
Series
2016-C31-C
4.26%
(e)
11/15/2049
211,357
Morgan
Stanley
Capital
I
Trust
,
283,000
Series
2018-L1-C
4.78%
(e)
10/15/2051
262,938
MSWF
Commercial
Mortgage
Trust
,
199,336
Series
2023-2-A1
5.96%
12/15/2056
202,143
NJ
Trust
,
250,000
Series
2023-GSP-A
6.48%
(a)(e)
01/06/2029
260,417
UBS
Commercial
Mortgage
Trust
,
273,308
Series
2017-C4-A3
3.30%
10/15/2050
260,068
200,000
Series
2018-C8-C
4.68%
(e)
02/15/2051
177,087
VEGAS
Trust
,
170,000
Series
2024-TI-A
5.52%
(a)
11/10/2039
170,558
14
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Wells
Fargo
Commercial
Mortgage
Trust
,
250,000
Series
2015-LC22-A4
3.84%
09/15/2058
247,833
306,000
Series
2017-C41-B
4.19%
(e)
11/15/2050
286,753
320,000
Series
2018-C45-C
4.73%
06/15/2051
295,652
391,688
Series
2019-C50-A4
3.47%
05/15/2052
372,007
250,000
Series
2019-C50-C
4.35%
05/15/2052
223,301
210,000
Series
2020-C57-A4
2.12%
08/15/2053
180,868
269,117
Series
2020-C58-A3
1.81%
07/15/2053
231,330
246,000
Series
2021-C60-A3
2.06%
08/15/2054
210,255
250,000
Series
2024-C63-C
6.12%
(e)
08/15/2057
248,800
WFRBS
Commercial
Mortgage
Trust
,
373,233
Series
2014-C21-XA
0.50%
(e)(f)
08/15/2047
741
Total
Non-Agency
Commercial
Mortgage
Backed
Obligations
(Cost
$17,118,287)
17,372,011
NON-AGENCY
RESIDENTIAL
COLLATERALIZED
MORTGAGE
OBLIGATIONS
9.6%
BRAVO
Residential
Funding
Trust
,
1,094,352
Series
2023-NQM3-A1
4.85%
(a)(b)
09/25/2062
1,078,341
1,474,574
Series
2023-NQM5-A1
6.50%
(a)(b)
06/25/2063
1,487,400
Citigroup
Mortgage
Loan
Trust
,
466,664
Series
2007-AR8-2A1A
5.23%
(e)
07/25/2037
407,438
COLT
Mortgage
Loan
Trust
,
982,851
Series
2024-5-A2
5.38%
(a)(b)
08/25/2069
974,636
Connecticut
Avenue
Securities
Trust
,
500,000
Series
2022-R01-
1M2
(SOFR
30
Day
Average
+
1.90%)
6.47%
(a)
12/25/2041
507,476
1,254,088
Series
2024-R03-
2M1
(SOFR
30
Day
Average
+
1.15%)
5.71%
(a)
03/25/2044
1,254,707
Cross
Mortgage
Trust
,
1,000,000
Series
2024-H1-M1
7.07%
(a)(e)
12/25/2068
1,015,205
CyrusOne
Data
Centers
Issuer
I
LLC
,
500,000
Series
2024-2A-A2
4.50%
(a)
05/20/2049
477,191
Deephaven
Residential
Mortgage
Trust
,
835,541
Series
2022-2-A1
4.30%
(a)(e)
03/25/2067
796,178
FHLMC
STACR
REMIC
Trust
,
500,000
Series
2022-DNA2-
M1B
(SOFR
30
Day
Average
+
2.40%)
6.97%
(a)
02/25/2042
512,206
HOMES
Trust
,
785,613
Series
2023-NQM1-A1
6.18%
(a)(b)
01/25/2068
788,254
Legacy
Mortgage
Asset
Trust
,
378,028
Series
2021-GS2-A1
4.75%
(a)(b)
04/25/2061
378,186
New
Residential
Mortgage
Loan
Trust
,
779,203
Series
2019-RPL2-A1
3.25%
(a)(e)
02/25/2059
751,370
830,064
Series
2024-NQM1-A1
6.13%
(a)(b)
03/25/2064
835,767
OBX
Trust
,
1,335,746
Series
2023-NQM10-A1
6.46%
(a)(b)
10/25/2063
1,349,785
764,309
Series
2023-NQM2-A1
6.32%
(a)(b)
01/25/2062
768,957
730,427
Series
2023-NQM3-A3
6.76%
(a)(b)
02/25/2063
735,556
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
2,436,565
Series
2024-NQM16-A2
5.73%
(a)(b)
10/25/2064
2,430,596
1,273,764
Series
2024-NQM6-A1
6.45%
(a)(b)
02/25/2064
1,287,442
PRPM
LLC
,
1,429,456
Series
2024-4-A1
6.41%
(a)(b)
08/25/2029
1,433,914
PRPM
Trust
,
1,500,000
Series
2024-NQM4-A1
5.67%
(a)(b)
12/26/2069
1,511,583
RFMSI
Trust
,
1,276,653
Series
2006-S4-A7
6.00%
04/25/2036
1,000,666
Structured
Asset
Mortgage
Investments
II
Trust
,
1,137,352
Series
2007-AR3-
1A3
(CME
Term
SOFR
1
Month
+
0.53%,
0.42%
Floor)
4.87%
09/25/2047
963,846
Towd
Point
Mortgage
Trust
,
1,517,151
Series
2018-5-A1
3.25%
(a)(e)
07/25/2058
1,443,330
2,061,868
Series
2020-2-A1A
1.64%
(a)(e)
04/25/2060
1,860,082
200,073
Series
2020-3-A1
3.09%
(a)(e)
02/25/2063
192,219
884,338
Series
2022-1-A1
3.75%
(a)(e)
07/25/2062
830,020
Verus
Securitization
Trust
,
440,336
Series
2021-8-A1
1.82%
(a)(e)
11/25/2066
392,653
989,137
Series
2023-4-A1
5.81%
(a)(b)
05/25/2068
992,459
728,385
Series
2023-INV1-A3
6.76%
(a)(b)
02/25/2068
733,239
2,129,269
Series
2023-INV3-A1
6.88%
(a)(e)
11/25/2068
2,161,249
1,036,287
Series
2024-1-A1
5.71%
(a)(b)
01/25/2069
1,038,322
WaMu
Mortgage-Backed
Pass-Through
Certificates
Trust
,
354,515
Series
2006-AR16-2A1
4.54%
(e)
12/25/2036
311,889
Wells
Fargo
Mortgage-Backed
Securities
Trust
,
273,947
Series
2006-AR14-2A1
7.39%
(e)
10/25/2036
244,827
Total
Non-Agency
Residential
Collateralized
Mortgage
Obligations
(Cost
$32,795,116)
32,946,989
US
CORPORATE
BONDS
14.6%
70,000
AAR
Escrow
Issuer
LLC
6.75%
(a)
03/15/2029
71,051
340,000
AbbVie,
Inc.
4.70%
05/14/2045
300,362
165,000
Academy
Ltd.
6.00%
(a)
11/15/2027
164,263
60,000
AdaptHealth
LLC
5.13%
(a)
03/01/2030
54,684
155,000
Advanced
Drainage
Systems,
Inc.
6.38%
(a)
06/15/2030
155,724
90,000
AEP
Texas,
Inc.
5.45%
05/15/2029
91,205
160,000
Aethon
United
BR
LP
7.50%
(a)
10/01/2029
163,784
389,000
AGCO
Corp.
5.80%
03/21/2034
391,238
215,000
Agree
LP
5.63%
06/15/2034
215,743
663,000
Alexandria
Real
Estate
Equities,
Inc.
3.00%
05/18/2051
406,165
95,000
Alliant
Holdings
Intermediate
LLC
6.75%
(a)
10/15/2027
94,310
90,000
Alliant
Holdings
Intermediate
LLC
6.50%
(a)
10/01/2031
89,224
70,000
Allied
Universal
Holdco
LLC
9.75%
(a)
07/15/2027
70,557
155,000
Allied
Universal
Holdco
LLC
7.88%
(a)
02/15/2031
158,616
85,000
Amentum
Holdings,
Inc.
7.25%
(a)
08/01/2032
85,741
|
December
31,
2024
15
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
160,000
American
Airlines,
Inc.
8.50%
(a)
05/15/2029
168,089
250,000
American
Homes
4
Rent
LP
5.50%
02/01/2034
249,129
205,000
American
National
Group,
Inc.
5.75%
10/01/2029
205,392
400,000
Amgen,
Inc.
5.75%
03/02/2063
383,960
193,000
Amphenol
Corp.
5.38%
11/15/2054
183,641
110,000
Anywhere
Real
Estate
Group
LLC
7.00%
(a)
04/15/2030
97,705
55,000
APH
Somerset
Investor
2
LLC
7.88%
(a)
11/01/2029
55,795
195,000
Apollo
Debt
Solutions
BDC
6.70%
(a)
07/29/2031
200,352
141,000
Apollo
Global
Management,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.17%)
6.00%
12/15/2054
139,156
189,000
AppLovin
Corp.
5.38%
12/01/2031
189,138
145,000
Archrock
Partners
LP
6.63%
(a)
09/01/2032
144,957
385,000
Ares
Capital
Corp.
5.95%
07/15/2029
389,459
134,000
Ares
Strategic
Income
Fund
5.70%
(a)
03/15/2028
134,026
145,000
Arizona
Public
Service
Co.
5.70%
08/15/2034
146,710
262,000
Arrow
Electronics,
Inc.
5.88%
04/10/2034
263,722
110,000
Arthur
J
Gallagher
&
Co.
4.85%
12/15/2029
109,545
236,000
Arthur
J
Gallagher
&
Co.
5.15%
02/15/2035
230,211
220,000
AssuredPartners,
Inc.
5.63%
(a)
01/15/2029
222,678
609,000
AT&T,
Inc.
3.50%
09/15/2053
410,453
135,000
AthenaHealth
Group,
Inc.
6.50%
(a)
02/15/2030
128,430
457,000
Athene
Global
Funding
4.72%
(a)
10/08/2029
446,056
391,000
Athene
Holding
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%)
6.63%
10/15/2054
389,790
130,000
Atlassian
Corp.
5.25%
05/15/2029
131,026
236,000
Aviation
Capital
Group
LLC
5.38%
(a)
07/15/2029
236,286
30,000
Avient
Corp.
6.25%
(a)
11/01/2031
29,624
125,000
Bank
of
America
Corp.
(SOFR
+
1.65%)
5.47%
01/23/2035
125,193
200,000
Bank
of
America
Corp.
(SOFR
+
1.74%)
5.52%
10/25/2035
195,654
623,000
Bank
of
America
Corp.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.20%)
2.48%
09/21/2036
507,857
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
290,000
Bank
of
New
York
Mellon
Corp.
(The)
(SOFR
+
1.23%)
5.06%
07/22/2032
289,352
180,000
Bausch
+
Lomb
Corp.
8.38%
(a)
10/01/2028
186,525
65,000
Bausch
Health
Cos.,
Inc.
4.88%
(a)
06/01/2028
52,072
60,000
Bausch
Health
Cos.,
Inc.
5.25%
(a)
01/30/2030
32,754
260,000
BCPE
Empire
Holdings,
Inc.
7.63%
(a)
05/01/2027
259,377
160,000
Beacon
Roofing
Supply,
Inc.
6.50%
(a)
08/01/2030
162,481
317,000
Black
Hills
Corp.
6.00%
01/15/2035
327,100
229,000
Blackstone
Private
Credit
Fund
6.00%
(a)
11/22/2034
223,603
65,000
Blue
Racer
Midstream
LLC
7.25%
(a)
07/15/2032
66,840
85,000
Brand
Industrial
Services,
Inc.
10.38%
(a)
08/01/2030
86,619
445,000
Broadcom,
Inc.
3.50%
(a)
02/15/2041
347,747
380,000
Brown
&
Brown,
Inc.
2.38%
03/15/2031
319,592
195,000
Buckeye
Partners
LP
6.88%
(a)
07/01/2029
197,558
155,000
Builders
FirstSource,
Inc.
6.38%
(a)
03/01/2034
153,169
224,000
Bunge
Ltd.
Finance
Corp.
4.65%
09/17/2034
211,555
168,000
Burlington
Northern
Santa
Fe
LLC
5.50%
03/15/2055
165,188
225,000
Caesars
Entertainment,
Inc.
6.00%
(a)
10/15/2032
217,149
155,000
Campbell's
Co.
(The)
5.40%
03/21/2034
154,323
192,000
Cardinal
Health,
Inc.
4.60%
03/15/2043
164,327
27,000
Cardinal
Health,
Inc.
4.50%
11/15/2044
22,350
55,858
Carvana
Co.
9.00%
(a)
12/01/2028
59,119
30,000
Carvana
Co.
13.00%
(a)
06/01/2030
32,633
125,000
CCO
Holdings
LLC
5.13%
(a)
05/01/2027
122,933
100,000
CCO
Holdings
LLC
4.75%
(a)
03/01/2030
91,432
95,000
CCO
Holdings
LLC
4.75%
(a)
02/01/2032
83,486
466,000
Centene
Corp.
3.00%
10/15/2030
402,401
75,000
Central
Parent
LLC
8.00%
(a)
06/15/2029
76,455
240,000
CF
Industries,
Inc.
5.38%
03/15/2044
223,482
420,000
Cheniere
Energy
Partners
LP
4.00%
03/01/2031
388,660
541,000
Cheniere
Energy,
Inc.
4.63%
10/15/2028
529,645
80,000
Chord
Energy
Corp.
6.38%
(a)
06/01/2026
80,037
125,000
CHS/Community
Health
Systems,
Inc.
6.00%
(a)
01/15/2029
112,061
441,000
Citigroup,
Inc.
(SOFR
+
1.35%)
3.06%
01/25/2033
378,963
405,000
Citigroup,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.73%)
5.41%
09/19/2039
385,944
16
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
70,000
Civitas
Resources,
Inc.
8.38%
(a)
07/01/2028
72,787
25,000
Clear
Channel
Outdoor
Holdings,
Inc.
7.75%
(a)
04/15/2028
22,586
145,000
Clydesdale
Acquisition
Holdings,
Inc.
6.88%
(a)
01/15/2030
146,162
155,000
CNH
Industrial
Capital
LLC
5.10%
04/20/2029
155,119
60,000
CNX
Resources
Corp.
6.00%
(a)
01/15/2029
58,891
125,000
Consolidated
Communications,
Inc.
5.00%
(a)
10/01/2028
116,467
130,000
Cornerstone
Building
Brands,
Inc.
9.50%
(a)
08/15/2029
126,686
65,000
Cougar
JV
Subsidiary
LLC
8.00%
(a)
05/15/2032
67,535
327,000
Crown
Castle,
Inc.
3.65%
09/01/2027
317,196
400,000
CSX
Corp.
3.80%
11/01/2046
307,865
155,000
CVS
Health
Corp.
5.30%
06/01/2033
148,648
230,000
CVS
Health
Corp.
5.88%
06/01/2053
211,149
90,000
Dcli
Bidco
LLC
7.75%
(a)
11/15/2029
92,360
160,000
Dealer
Tire
LLC
8.00%
(a)
02/01/2028
157,343
373,000
Dell,
Inc.
6.50%
04/15/2038
390,571
212,000
Devon
Energy
Corp.
5.75%
09/15/2054
192,502
145,000
Directv
Financing
LLC
5.88%
(a)
08/15/2027
141,428
90,000
DISH
DBS
Corp.
5.75%
(a)
12/01/2028
77,119
35,000
DISH
DBS
Corp.
5.13%
06/01/2029
22,562
114,000
Dominion
Energy,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.21%)
6.63%
05/15/2055
116,185
120,000
Dornoch
Debt
Merger
Sub,
Inc.
6.63%
(a)
10/15/2029
97,330
425,000
DR
Horton,
Inc.
5.00%
10/15/2034
410,609
101,000
DT
Midstream,
Inc.
4.13%
(a)
06/15/2029
94,392
246,000
DTE
Energy
Co.
5.85%
06/01/2034
252,694
105,000
Duke
Energy
Corp.
5.00%
08/15/2052
91,744
70,000
EchoStar
Corp.
10.75%
11/30/2029
75,345
202,000
Edison
International
5.25%
03/15/2032
199,952
210,000
Elevance
Health,
Inc.
4.55%
05/15/2052
169,421
165,000
Ellucian
Holdings,
Inc.
6.50%
(a)
12/01/2029
165,482
115,000
EMRLD
Borrower
LP
6.63%
(a)
12/15/2030
115,297
381,000
Energy
Transfer
LP
5.95%
05/15/2054
368,570
192,000
Energy
Transfer
LP
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.83%)
7.13%
10/01/2054
195,580
189,000
EnLink
Midstream
LLC
5.38%
06/01/2029
189,129
363,000
EnLink
Midstream
LLC
5.65%
09/01/2034
362,029
170,000
Equinix,
Inc.
3.90%
04/15/2032
156,653
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
300,000
Equinix,
Inc.
2.95%
09/15/2051
184,279
160,000
Eversource
Energy
5.50%
01/01/2034
158,853
221,000
Expand
Energy
Corp.
6.75%
(a)
04/15/2029
223,597
386,000
Expedia
Group,
Inc.
3.80%
02/15/2028
373,016
163,000
F&G
Annuities
&
Life,
Inc.
6.25%
10/04/2034
158,248
75,000
Fertitta
Entertainment
LLC
6.75%
(a)
01/15/2030
69,254
310,000
Fiserv,
Inc.
5.45%
03/15/2034
310,400
260,000
Ford
Motor
Co.
3.25%
02/12/2032
216,311
235,000
Fortress
Transportation
and
Infrastructure
Investors
LLC
5.88%
(a)
04/15/2033
227,037
75,000
Frontier
Communications
Holdings
LLC
6.75%
(a)
05/01/2029
75,438
90,000
Full
House
Resorts,
Inc.
8.25%
(a)
02/15/2028
89,753
260,000
Genesee
&
Wyoming,
Inc.
6.25%
(a)
04/15/2032
261,893
372,000
Genuine
Parts
Co.
4.95%
08/15/2029
371,084
155,000
Global
Payments,
Inc.
4.95%
08/15/2027
155,371
95,000
Goat
Holdco
LLC
6.75%
(a)
02/01/2032
94,177
595,000
Goldman
Sachs
Group,
Inc.
(The)
(SOFR
+
0.82%)
5.29%
09/10/2027
596,719
70,000
Gray
Television,
Inc.
10.50%
(a)
07/15/2029
70,072
105,000
Griffon
Corp.
5.75%
03/01/2028
103,033
155,000
Gulfport
Energy
Operating
Corp.
6.75%
(a)
09/01/2029
156,274
130,000
Harvest
Midstream
I
LP
7.50%
(a)
05/15/2032
132,507
395,000
HCA,
Inc.
5.25%
06/15/2049
342,248
205,000
Hess
Midstream
Operations
LP
5.50%
(a)
10/15/2030
199,176
447,000
Hewlett
Packard
Enterprise
Co.
5.00%
10/15/2034
429,880
95,000
Hilcorp
Energy
I
LP
7.25%
(a)
02/15/2035
89,396
315,000
Host
Hotels
&
Resorts
LP
5.70%
07/01/2034
314,673
350,000
Host
Hotels
&
Resorts
LP
3.50%
09/15/2030
317,178
95,000
HUB
International
Ltd.
7.25%
(a)
06/15/2030
97,453
111,000
Huntington
Bancshares,
Inc.
(SOFR
+
1.28%)
5.27%
01/15/2031
111,124
320,000
Hyatt
Hotels
Corp.
5.25%
06/30/2029
320,385
310,000
Hyundai
Capital
America
5.30%
(a)
01/08/2029
310,749
145,000
Illuminate
Buyer
LLC
9.00%
(a)
07/01/2028
146,957
205,000
IQVIA,
Inc.
6.25%
02/01/2029
212,127
210,000
Iron
Mountain,
Inc.
7.00%
(a)
02/15/2029
214,728
35,000
Iron
Mountain,
Inc.
6.25%
(a)
01/15/2033
34,883
95,000
JetBlue
Airways
Corp.
9.88%
(a)
09/20/2031
101,036
|
December
31,
2024
17
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
155,000
JPMorgan
Chase
&
Co.
(SOFR
+
1.99%)
4.85%
07/25/2028
154,976
197,000
Keysight
Technologies,
Inc.
4.95%
10/15/2034
189,605
389,000
Kinder
Morgan
Energy
Partners
LP
6.95%
01/15/2038
421,917
190,000
Kinetik
Holdings
LP
5.88%
(a)
06/15/2030
187,159
120,000
Kodiak
Gas
Services
LLC
7.25%
(a)
02/15/2029
122,519
250,000
Kyndryl
Holdings,
Inc.
4.10%
10/15/2041
198,551
386,000
Laboratory
Corp.
of
America
Holdings
4.55%
04/01/2032
369,699
100,000
Level
3
Financing,
Inc.
10.50%
(a)
04/15/2029
111,940
235,000
Life
Time,
Inc.
6.00%
(a)
11/15/2031
232,807
155,000
LifePoint
Health,
Inc.
4.38%
(a)
02/15/2027
148,679
170,000
LifePoint
Health,
Inc.
10.00%
(a)
06/01/2032
173,060
50,000
Light
&
Wonder
International,
Inc.
7.25%
(a)
11/15/2029
51,085
85,000
Lightning
Power
LLC
7.25%
(a)
08/15/2032
87,645
95,000
Lowe's
Cos.,
Inc.
5.63%
04/15/2053
91,365
380,000
LPL
Holdings,
Inc.
6.00%
05/20/2034
387,131
186,000
M&T
Bank
Corp.
(SOFR
+
2.26%)
6.08%
03/13/2032
190,729
51,000
Macy's
Retail
Holdings
LLC
5.88%
(a)
04/01/2029
50,016
180,000
Madison
IAQ
LLC
5.88%
(a)
06/30/2029
170,160
195,000
Markel
Group,
Inc.
6.00%
05/16/2054
193,378
320,000
Marriott
International,
Inc.
5.30%
05/15/2034
317,734
328,000
Marvell
Technology,
Inc.
5.95%
09/15/2033
340,684
154,000
MasTec,
Inc.
5.90%
06/15/2029
156,884
100,000
Matador
Resources
Co.
6.50%
(a)
04/15/2032
99,038
75,000
Match
Group
Holdings
II
LLC
5.00%
(a)
12/15/2027
72,600
40,000
Mavis
Tire
Express
Services
Topco
Corp.
6.50%
(a)
05/15/2029
38,403
155,000
McDonald's
Corp.
5.45%
08/14/2053
148,626
55,000
McGraw-Hill
Education,
Inc.
5.75%
(a)
08/01/2028
53,761
45,000
McGraw-Hill
Education,
Inc.
7.38%
(a)
09/01/2031
46,111
150,000
Medline
Borrower
LP
5.25%
(a)
10/01/2029
144,902
35,000
Michaels
Cos.,
Inc.
(The)
5.25%
(a)
05/01/2028
26,466
30,000
Michaels
Cos.,
Inc.
(The)
7.88%
(a)
05/01/2029
18,348
135,000
Midwest
Gaming
Borrower
LLC
4.88%
(a)
05/01/2029
127,366
135,000
Miter
Brands
Acquisition
Holdco,
Inc.
6.75%
(a)
04/01/2032
135,717
157,000
MPLX
LP
5.50%
06/01/2034
154,836
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
65,000
Nabors
Industries,
Inc.
9.13%
(a)
01/31/2030
66,162
56,000
Nationstar
Mortgage
Holdings,
Inc.
5.75%
(a)
11/15/2031
53,585
100,000
NCL
Corp.
Ltd.
8.38%
(a)
02/01/2028
104,635
241,000
Netflix,
Inc.
5.40%
08/15/2054
234,653
91,000
NextEra
Energy
Capital
Holdings,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%)
6.75%
06/15/2054
93,455
95,000
NGL
Energy
Operating
LLC
8.13%
(a)
02/15/2029
96,340
315,000
NiSource,
Inc.
5.35%
04/01/2034
312,609
325,000
Northrop
Grumman
Corp.
5.20%
06/01/2054
302,661
100,000
NRG
Energy,
Inc.
6.00%
(a)
02/01/2033
97,202
80,000
NuStar
Logistics
LP
6.00%
06/01/2026
80,163
190,000
Occidental
Petroleum
Corp.
5.38%
01/01/2032
186,163
245,000
Omega
Healthcare
Investors,
Inc.
4.75%
01/15/2028
241,837
165,000
OneMain
Finance
Corp.
7.50%
05/15/2031
169,527
303,000
ONEOK,
Inc.
6.63%
09/01/2053
318,870
187,000
Oracle
Corp.
3.80%
11/15/2037
156,228
176,000
O'Reilly
Automotive,
Inc.
5.00%
08/19/2034
170,808
65,000
Outfront
Media
Capital
LLC
7.38%
(a)
02/15/2031
67,998
80,000
Owens
&
Minor,
Inc.
6.63%
(a)
04/01/2030
75,091
149,000
Owens
Corning
5.70%
06/15/2034
151,449
286,000
Pacific
Gas
and
Electric
Co.
6.95%
03/15/2034
313,415
60,000
Pactiv
Evergreen
Group
Issuer
LLC
4.38%
(a)
10/15/2028
60,008
100,000
Panther
Escrow
Issuer
LLC
7.13%
(a)
06/01/2031
101,108
205,000
Park
Intermediate
Holdings
LLC
7.00%
(a)
02/01/2030
208,210
145,000
PennyMac
Financial
Services,
Inc.
7.88%
(a)
12/15/2029
152,054
318,000
Penske
Truck
Leasing
Co.
LP
4.20%
(a)
04/01/2027
312,962
135,000
Performance
Food
Group,
Inc.
6.13%
(a)
09/15/2032
135,163
65,000
Permian
Resources
Operating
LLC
7.00%
(a)
01/15/2032
66,046
196,000
Permian
Resources
Operating
LLC
6.25%
(a)
02/01/2033
193,630
350,000
PetSmart,
Inc.
7.75%
(a)
02/15/2029
338,757
160,000
Philip
Morris
International,
Inc.
5.25%
02/13/2034
158,219
115,000
Pike
Corp.
8.63%
(a)
01/31/2031
121,464
115,000
Post
Holdings,
Inc.
6.38%
(a)
03/01/2033
112,857
174,000
Quanta
Services,
Inc.
2.35%
01/15/2032
144,075
185,000
Quanta
Services,
Inc.
5.25%
08/09/2034
180,864
373,000
Quest
Diagnostics,
Inc.
5.00%
12/15/2034
362,327
18
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
122,099
Radiology
Partners,
Inc.
7.78%
(a)
01/31/2029
120,524
155,000
Regal
Rexnord
Corp.
6.05%
02/15/2026
156,483
220,000
Regal
Rexnord
Corp.
6.05%
04/15/2028
223,845
318,000
Royal
Caribbean
Cruises
Ltd.
5.38%
(a)
07/15/2027
316,251
75,000
Royal
Caribbean
Cruises
Ltd.
6.25%
(a)
03/15/2032
75,956
169,000
Royalty
Pharma
plc
5.15%
09/02/2029
168,714
50,000
Sabra
Health
Care
LP
3.90%
10/15/2029
46,771
49,000
Sabre
GLBL,
Inc.
8.63%
(a)
06/01/2027
48,376
21,000
Sabre
GLBL,
Inc.
10.75%
(a)
11/15/2029
21,743
125,000
San
Diego
Gas
&
Electric
Co.
5.35%
04/01/2053
117,766
75,000
Scientific
Games
Holdings
LP
6.63%
(a)
03/01/2030
71,835
100,000
Sealed
Air
Corp.
7.25%
(a)
02/15/2031
103,205
95,000
Sirius
XM
Radio
LLC
5.50%
(a)
07/01/2029
91,195
85,000
Sitio
Royalties
Operating
Partnership
LP
7.88%
(a)
11/01/2028
87,829
165,000
Six
Flags
Entertainment
Corp.
6.63%
(a)
05/01/2032
167,364
145,000
SM
Energy
Co.
7.00%
(a)
08/01/2032
143,100
195,000
Sonoco
Products
Co.
4.60%
09/01/2029
190,044
80,000
Sotera
Health
Holdings
LLC
7.38%
(a)
06/01/2031
81,148
70,000
Standard
Building
Solutions,
Inc.
6.50%
(a)
08/15/2032
70,172
90,000
Staples,
Inc.
10.75%
(a)
09/01/2029
88,653
190,000
Sun
Communities
Operating
LP
2.70%
07/15/2031
159,872
60,000
Tallgrass
Energy
Partners
LP
7.38%
(a)
02/15/2029
60,248
73,000
Targa
Resources
Corp.
5.50%
02/15/2035
71,872
125,000
Tenet
Healthcare
Corp.
6.13%
06/15/2030
124,171
185,000
T-Mobile
USA,
Inc.
5.50%
01/15/2055
174,713
204,000
T-Mobile
USA,
Inc.
5.25%
06/15/2055
185,445
100,000
TransDigm,
Inc.
6.88%
(a)
12/15/2030
101,558
63,000
Transocean
Poseidon
Ltd.
6.88%
(a)
02/01/2027
63,239
43,000
Transocean,
Inc.
8.00%
(a)
02/01/2027
43,127
240,000
Trident
TPI
Holdings,
Inc.
12.75%
(a)
12/31/2028
265,042
329,000
Truist
Financial
Corp.
(SOFR
+
1.57%)
5.15%
08/05/2032
325,269
359,000
Uber
Technologies,
Inc.
4.80%
09/15/2034
343,880
60,000
UKG,
Inc.
6.88%
(a)
02/01/2031
60,936
365,000
United
Natural
Foods,
Inc.
6.75%
(a)
10/15/2028
360,102
250,000
UnitedHealth
Group,
Inc.
5.05%
04/15/2053
225,288
115,000
UnitedHealth
Group,
Inc.
4.95%
05/15/2062
99,200
399,000
Universal
Health
Services,
Inc.
4.63%
10/15/2029
385,252
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
90,000
Univision
Communications,
Inc.
7.38%
(a)
06/30/2030
86,214
225,000
US
Foods,
Inc.
5.75%
(a)
04/15/2033
219,216
60,000
Vail
Resorts,
Inc.
6.50%
(a)
05/15/2032
60,723
95,000
Venture
Global
LNG,
Inc.
8.13%
(a)
06/01/2028
98,899
35,000
Venture
Global
LNG,
Inc.
8.38%
(a)
06/01/2031
36,539
45,000
Venture
Global
LNG,
Inc.
9.88%
(a)
02/01/2032
49,406
305,000
Veralto
Corp.
5.35%
09/18/2028
309,029
155,000
Verisk
Analytics,
Inc.
5.25%
06/05/2034
153,243
85,000
Veritiv
Operating
Co.
10.50%
(a)
11/30/2030
91,650
439,000
VICI
Properties
LP
4.63%
(a)
12/01/2029
420,979
120,000
Victra
Holdings
LLC
8.75%
(a)
09/15/2029
126,047
135,000
Viking
Cruises
Ltd.
5.88%
(a)
09/15/2027
134,428
195,000
Viking
Cruises
Ltd.
9.13%
(a)
07/15/2031
209,889
121,000
Virginia
Electric
and
Power
Co.
5.55%
08/15/2054
117,119
60,000
Vistra
Operations
Co.
LLC
7.75%
(a)
10/15/2031
63,000
80,000
Vistra
Operations
Co.
LLC
6.88%
(a)
04/15/2032
81,989
55,000
Vital
Energy,
Inc.
7.88%
(a)
04/15/2032
52,974
50,000
VT
Topco,
Inc.
8.50%
(a)
08/15/2030
53,020
165,000
Wand
NewCo
3,
Inc.
7.63%
(a)
01/30/2032
169,644
145,000
Watco
Cos.
LLC
7.13%
(a)
08/01/2032
149,604
80,000
Wayfair
LLC
7.25%
(a)
10/31/2029
80,160
100,000
Weatherford
International
Ltd.
8.63%
(a)
04/30/2030
103,334
120,000
Wells
Fargo
&
Co.
(SOFR
+
1.98%)
4.81%
07/25/2028
119,595
385,000
Wells
Fargo
&
Co.
(SOFR
+
1.74%)
5.57%
07/25/2029
390,992
192,000
Wells
Fargo
&
Co.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%)
6.85%
(c)
09/15/2029
198,653
200,000
Williams
Cos.,
Inc.
(The)
5.15%
03/15/2034
194,563
114,000
Willis
North
America,
Inc.
4.50%
09/15/2028
112,043
50,000
Windstream
Services
LLC
8.25%
(a)
10/01/2031
51,700
211,000
Workday,
Inc.
3.80%
04/01/2032
192,094
125,000
WR
Grace
Holdings
LLC
5.63%
(a)
08/15/2029
115,104
315,000
WRKCo,
Inc.
3.75%
03/15/2025
314,198
160,000
XPO,
Inc.
7.13%
(a)
06/01/2031
164,708
370,000
Zimmer
Biomet
Holdings,
Inc.
5.20%
09/15/2034
362,887
Total
US
Corporate
Bonds
(Cost
$50,341,006)
50,266,653
US
GOVERNMENT
AND
AGENCY
MORTGAGE
BACKED
OBLIGATIONS
20.8%
FHLMC
UMBS
,
1,724,967
Pool
RA7939
5.00%
09/01/2052
1,672,150
1,257,663
Pool
SD2347
5.50%
02/01/2053
1,255,815
3,090,098
Pool
SD2969
2.50%
05/01/2052
2,561,832
1,662,614
Pool
SD3033
5.50%
05/01/2053
1,676,559
|
December
31,
2024
19
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
303,361
Pool
SD3454
5.50%
08/01/2053
301,490
1,519,394
Pool
SD3803
2.00%
02/01/2052
1,203,629
1,408,186
Pool
SD3892
5.50%
09/01/2053
1,398,764
1,124,223
Pool
SD4301
6.00%
11/01/2053
1,151,441
1,004,704
Pool
SD4888
6.00%
02/01/2054
1,020,258
928,470
Pool
SD5219
6.00%
04/01/2054
940,550
2,826,788
Pool
SD5249
5.50%
04/01/2054
2,830,162
4,103,943
Pool
SD5573
3.00%
08/01/2052
3,541,845
2,308,015
Pool
SD5617
6.00%
06/01/2054
2,350,789
2,845,435
Pool
SD6002
5.50%
07/01/2054
2,846,018
1,473,274
Pool
SD7553
3.00%
03/01/2052
1,270,041
1,220,012
Pool
SD8146
2.00%
05/01/2051
956,968
FNMA
REMICS
,
1,482,508
Series
2018-53-Z
3.50%
07/25/2048
1,280,012
1,490,697
Series
2018-62-B
3.50%
09/25/2048
1,326,076
2,518,503
Series
2019-5-FE
(SOFR
30
Day
Average
+
0.56%,
0.45%
Floor,
6.50%
Cap)
5.13%
03/25/2049
2,475,829
1,086,192
Series
2024-90-FA
(SOFR
30
Day
Average
+
1.50%,
1.50%
Floor,
6.50%
Cap)
6.07%
12/25/2054
1,093,550
FNMA
UMBS
,
3,250,722
Pool
CA6032
2.50%
06/01/2050
2,697,172
2,305,581
Pool
CA8494
2.00%
01/01/2051
1,819,542
1,738,818
Pool
CB4573
5.00%
09/01/2052
1,682,128
651,930
Pool
CB6266
6.00%
05/01/2053
659,872
999,467
Pool
CB7272
6.00%
10/01/2053
1,013,175
920,583
Pool
CB7781
5.50%
01/01/2054
910,951
1,500,477
Pool
CB8692
5.50%
06/01/2054
1,500,785
3,862,006
Pool
CB8851
6.00%
07/01/2054
3,928,424
1,786,272
Pool
FS1472
3.50%
11/01/2050
1,603,783
2,622,939
Pool
FS3708
5.00%
01/01/2053
2,542,060
1,142,590
Pool
FS5082
5.00%
02/01/2053
1,118,054
1,692,782
Pool
FS5420
2.50%
03/01/2052
1,398,189
1,783,668
Pool
FS5600
2.50%
06/01/2052
1,479,898
946,257
Pool
FS6309
6.00%
12/01/2053
969,200
2,693,920
Pool
FS6517
2.50%
04/01/2052
2,231,241
2,876,439
Pool
FS7738
6.00%
03/01/2054
2,946,184
1,454,173
Pool
FS8659
5.50%
07/01/2054
1,446,837
GNMA
,
1,120,593
Pool
785717
3.00%
11/20/2051
966,662
2,658,330
Pool
786184
3.00%
02/20/2052
2,299,532
802,058
Pool
786227
3.00%
04/20/2052
693,533
1,808,574
Pool
MA5191
3.50%
05/20/2048
1,632,778
969,484
Series
2013-116-WU
3.00%
12/20/2042
949,282
1,081,611
Series
2021-58-HP
3.00%
08/20/2050
932,361
994,527
Series
2022-23-BA
3.00%
05/20/2049
900,820
Total
US
Government
and
Agency
Mortgage
Backed
Obligations
(Cost
$72,186,268)
71,476,241
US
GOVERNMENT
AND
AGENCY
OBLIGATIONS
22.4%
4,200,000
U.S.
Treasury
Bonds
1.13%
05/15/2040
2,528,715
30,000,000
U.S.
Treasury
Bonds
1.38%
11/15/2040
18,580,968
3,200,000
U.S.
Treasury
Notes
0.75%
03/31/2026
3,065,585
3,700,000
U.S.
Treasury
Notes
0.75%
01/31/2028
3,325,161
19,650,000
U.S.
Treasury
Notes
0.63%
05/15/2030
16,128,134
21,750,000
U.S.
Treasury
Notes
0.63%
08/15/2030
17,668,150
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
19,150,000
U.S.
Treasury
Notes
0.88%
11/15/2030
15,672,723
Total
US
Government
and
Agency
Obligations
(Cost
$79,004,360)
76,969,436
SHORT
TERM
INVESTMENTS
2.3%
4,010,438
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(g)
4,010,438
4,010,438
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(g)
4,010,438
Total
Short
Term
Investments
(Cost
$8,020,876)
8,020,876
Total
Investments
99.1%
(Cost
$342,312,504)
340,905,624
Other
Assets
in
Excess
of
Liabilities
0.9%
3,168,998
NET
ASSETS
100.0%
$344,074,622
20
DoubleLine
ETF
Trust
INVESTMENT
BREAKDOWN
as
a
%
of
Net
Assets:
US
Government
and
Agency
Obligations
22.4
%
US
Government
and
Agency
Mortgage
Backed
Obligations
20.8
Non-Agency
Residential
Collateralized
Mortgage
Obligations
9.6
Asset
Backed
Obligations
9.5
Non-Agency
Commercial
Mortgage
Backed
Obligations
5.0
Collateralized
Loan
Obligations
4.6
Banking
2.4
Short
Term
Investments
2.3
Midstream
1.6
Electric
1.5
Technology
1.3
Healthcare
1.1
Transportation
Services
1.0
Finance
Companies
1.0
Government
Owned,
No
Guarantee
0.8
Independent
0.7
Metals
and
Mining
0.7
Diversified
Manufacturing
0.6
Retailers
0.5
Consumer
Cyclical
Services
0.5
P&C
0.5
Chemicals
0.5
Software
0.4
Pharmaceuticals
0.4
Food
and
Beverage
0.4
Leisure
0.4
Railroads
0.4
Life
0.4
Wirelines
0.3
Wireless
0.3
Oil
Field
Services
0.3
Cable
Satellite
0.3
Foreign
Government
Bonds,
Foreign
Agencies
and
Foreign
Government
Sponsored
Corporations
0.3
Other
REITs
0.3
Gaming
0.3
Building
Materials
0.3
Aerospace
&
Defense
0.3
Health
Insurance
0.2
Automotive
0.2
Media
Entertainment
0.2
Packaging
0.2
Insurance
0.2
Other
Industrial
0.2
Healthcare
REITs
0.2
Government
Sponsored
0.2
Financial
Services
0.2
Hotels,
Restaurants
&
Leisure
0.2
Diversified
Consumer
Services
0.2
Lodging
0.2
Paper
0.2
Health
Care
Providers
&
Services
0.2
Local
Authority
0.2
Construction
Machinery
0.1
Brokerage,
Asset
Managers
&
Exchanges
0.1
Tobacco
0.1
Health
Care
Equipment
&
Supplies
0.1
Specialty
Retail
0.1
Home
Construction
0.1
Household
Durables
0.1
Natural
Gas
0.1
Other
Financial
0.1
Supermarkets
0.1
 .
INVESTMENT
BREAKDOWN
as
a
%
of
Net
Assets:
(Cont.)
Construction
&
Engineering
0.1
%
Airlines
0.1
Entertainment
0.1
IT
Services
0.1
Refining
0.1
Apartment
REITs
0.1
Restaurants
0.1
Electric
Utilities
0.1
Retail
REITs
0.1
Commercial
Services
&
Supplies
0.1
Machinery
0.1
Beverages
0.0
(d)
Distributors
0.0
(d)
Diversified
Telecommunication
Services
0.0
(d)
Oil,
Gas
&
Consumable
Fuels
0.0
(d)
Passenger
Airlines
0.0
(d)
Food
Products
0.0
(d)
Building
Products
0.0
(d)
Media
0.0
(d)
Professional
Services
0.0
(d)
Leisure
Products
0.0
(d)
Containers
&
Packaging
0.0
(d)
Electrical
Equipment
0.0
(d)
Consumer
Products
0.0
(d)
Automobile
Components
0.0
(d)
Household
Products
0.0
(d)
Communications
Equipment
0.0
(d)
Energy
Equipment
&
Services
0.0
(d)
Technology
Hardware,
Storage
&
Peripherals
0.0
(d)
Other
Assets
and
Liabilities
0.9
100.0
%
|
December
31,
2024
21
Schedule
of
Investments
DoubleLine
Opportunistic
Bond
ETF
(Cont.)
(Unaudited)
December
31,
2024
(a)
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.
At
December
31,
2024,
the
value
of
these
securities
amounted
to
approximately
$103,724,013
or
30.15%
of
net
assets.
(b)
Step
bond;
coupon
rate
changes
based
on
a
predetermined
schedule
or
event.
The
interest
rate
shown
is
the
rate
in
effect
as
of
period
end.
(c)
Perpetual
maturity.
The
date
disclosed
is
the
next
call
date
of
the
security.
(d)
Represents
less
than
0.05%
of
net
assets.
(e)
Coupon
rate
is
variable
or
floats
based
on
components
including
but
not
limited
to
reference
rate
and
spread.
These
securities
may
not
indicate
a
reference
rate
and/or
spread
in
their
description.
The
rate
disclosed
is
as
of
period
end.
(f)
Interest
only
security.
(g)
Seven-day
yield
as
of
period
end.
Abbreviations:
FHLMC
Federal
Home
Loan
Mortgage
Corporation
FNMA
Federal
National
Mortgage
Association
GNMA
Government
National
Mortgage
Association
SOFR
Secured
Overnight
Financing
Rate
UMBS
Uniform
Mortgage
Backed
Securities
STACR
Structured
Agency
Credit
Risk
REMIC
Real
Estate
Mortgage
Investment
Conduit
Futures
Contracts
Description
Long/Short
Contract
Quantity
Expiration
Date
Notional
Amount
(1)
Unrealized
Appreciation
(Depreciation)
/
Value
U.S.
Treasury
10
Year
Ultra
Bond
Short
(250)
03/20/2025
$
(27,828,125)
$
380,350
U.S.
Treasury
5
Year
Note
Short
(290)
03/31/2025
(30,828,360)
126,289
U.S.
Treasury
2
Year
Note
Long
925
03/31/2025
190,188,673
101,861
U.S.
Treasury
Ultra
Bond
Long
22
03/20/2025
2,615,938
(85,640)
U.S.
Treasury
Long
Bond
Long
270
03/20/2025
30,737,813
(703,151)
$(180,291)
(1)
Notional
Amount
is
determined
based
on
the
number
of
contracts
multiplied
by
the
contract
size
and
the
quoted
daily
settlement
price
in
US
dollars.
Schedule
of
Investments
DoubleLine
Shiller
CAPE
®
U.S.
Equities
ETF
(Unaudited)
December
31,
2024
22
DoubleLine
ETF
Trust
SHARES
SECURITY
DESCRIPTION
VALUE
$
COMMON
STOCKS
99.7%
BEVERAGES
4.8%
10,172
Brown-Forman
Corp.
-
Class
B
386,333
92,082
Coca-Cola
Co.
(The)
5,733,025
8,746
Constellation
Brands,
Inc.
-
Class
A
1,932,866
62,723
Keurig
Dr
Pepper,
Inc.
2,014,663
9,784
Molson
Coors
Beverage
Co.
-
Class
B
560,819
39,462
Monster
Beverage
Corp.
(a)
2,074,123
32,622
PepsiCo,
Inc.
4,960,501
17,662,330
CHEMICALS
15.3%
17,237
Air
Products
and
Chemicals,
Inc.
4,999,419
13,080
Albemarle
Corp.
1,125,926
12,155
Celanese
Corp.
-
Class
A
841,248
19,948
CF
Industries
Holdings,
Inc.
1,701,963
76,963
Corteva,
Inc.
4,383,812
77,862
Dow,
Inc.
3,124,602
46,348
DuPont
de
Nemours,
Inc.
3,534,035
13,021
Eastman
Chemical
Co.
1,189,078
19,686
Ecolab,
Inc.
4,612,824
13,823
FMC
Corp.
671,936
28,432
International
Flavors
&
Fragrances,
Inc.
2,403,926
37,396
Linde
plc
15,656,582
28,831
LyondellBasell
Industries
NV
-
Class
A
2,141,278
35,444
Mosaic
Co.
(The)
871,214
26,028
PPG
Industries,
Inc.
3,109,045
18,064
Sherwin-Williams
Co.
(The)
6,140,496
56,507,384
CONSTRUCTION
MATERIALS
2.0%
6,816
Martin
Marietta
Materials,
Inc.
3,520,464
14,706
Vulcan
Materials
Co.
3,782,824
7,303,288
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
7.9%
10,566
Costco
Wholesale
Corp.
9,681,308
12,215
Dollar
General
Corp.
926,141
11,333
Dollar
Tree,
Inc.
(a)
849,295
36,837
Kroger
Co.
(The)
2,252,583
27,481
Sysco
Corp.
2,101,197
25,803
Target
Corp.
3,488,050
40,033
Walgreens
Boots
Alliance,
Inc.
373,508
103,434
Walmart,
Inc.
9,345,262
29,017,344
CONTAINERS
&
PACKAGING
3.3%
160,033
Amcor
plc
1,505,911
8,942
Avery
Dennison
Corp.
1,673,316
33,315
Ball
Corp.
1,836,656
38,584
International
Paper
Co.
2,076,591
9,903
Packaging
Corp.
of
America
2,229,462
54,741
Smurfit
WestRock
plc
2,948,350
12,270,286
DIVERSIFIED
REITS
0.2%
15,714
WP
Carey,
Inc.
856,099
DIVERSIFIED
TELECOMMUNICATION
SERVICES
2.0%
177,624
AT&T,
Inc.
4,044,499
86,489
Verizon
Communications,
Inc.
3,458,695
7,503,194
ENTERTAINMENT
7.2%
26,282
Electronic
Arts,
Inc.
3,845,057
23,716
Live
Nation
Entertainment,
Inc.
(a)
3,071,222
7,572
Netflix,
Inc.
(a)
6,749,075
SHARES
SECURITY
DESCRIPTION
VALUE
$
24,723
Take-Two
Interactive
Software,
Inc.
(a)
4,551,010
42,328
Walt
Disney
Co.
(The)
4,713,223
338,264
Warner
Bros
Discovery,
Inc.
(a)
3,575,450
26,505,037
FOOD
PRODUCTS
4.5%
26,565
Archer-Daniels-Midland
Co.
1,342,064
7,913
Bunge
Global
SA
615,315
10,950
Campbell's
Co.
(The)
458,586
26,754
Conagra
Brands,
Inc.
742,424
31,091
General
Mills,
Inc.
1,982,672
8,243
Hershey
Co.
(The)
1,395,952
16,256
Hormel
Foods
Corp.
509,951
5,965
J
M
Smucker
Co.
(The)
656,866
14,982
Kellanova
1,213,093
49,245
Kraft
Heinz
Co.
(The)
1,512,314
8,037
Lamb
Weston
Holdings,
Inc.
537,113
14,113
McCormick
&
Co.,
Inc.
(Non-Voting)
1,075,975
59,320
Mondelez
International,
Inc.
-
Class
A
3,543,183
15,954
Tyson
Foods,
Inc.
-
Class
A
916,398
16,501,906
HEALTH
CARE
REITS
2.6%
11,203
Alexandria
Real
Estate
Equities,
Inc.
1,092,853
26,036
Healthcare
Realty
Trust,
Inc.
-
Class
A
441,310
50,538
Healthpeak
Properties,
Inc.
1,024,405
18,517
Omega
Healthcare
Investors,
Inc.
700,868
16,802
Sabra
Health
Care
REIT,
Inc.
291,011
29,695
Ventas,
Inc.
1,748,739
34,862
Welltower,
Inc.
4,393,658
9,692,844
HOTEL
&
RESORT
REITS
0.2%
50,557
Host
Hotels
&
Resorts,
Inc.
885,759
HOUSEHOLD
PRODUCTS
4.9%
13,673
Church
&
Dwight
Co.,
Inc.
1,431,700
6,913
Clorox
Co.
(The)
1,122,740
42,266
Colgate-Palmolive
Co.
3,842,402
18,763
Kimberly-Clark
Corp.
2,458,704
55,928
Procter
&
Gamble
Co.
(The)
9,376,329
18,231,875
INDUSTRIAL
REITS
2.6%
18,816
Americold
Realty
Trust,
Inc.
402,662
3,507
EastGroup
Properties,
Inc.
562,838
9,499
First
Industrial
Realty
Trust,
Inc.
476,185
4,286
Lineage,
Inc.
251,031
65,986
Prologis,
Inc.
6,974,720
15,751
Rexford
Industrial
Realty,
Inc.
608,934
13,073
STAG
Industrial,
Inc.
442,129
9,718,499
INTERACTIVE
MEDIA
&
SERVICES
10.8%
57,842
Alphabet,
Inc.
-
Class
A
10,949,491
47,407
Alphabet,
Inc.
-
Class
C
9,028,189
39,237
Match
Group,
Inc.
(a)
1,283,442
31,659
Meta
Platforms,
Inc.
-
Class
A
18,536,660
39,797,782
MEDIA
4.7%
11,231
Charter
Communications,
Inc.
-
Class
A
(a)
3,849,649
96,850
Comcast
Corp.
-
Class
A
3,634,781
33,963
Fox
Corp.
-
Class
A
1,649,923
19,963
Fox
Corp.
-
Class
B
913,108
56,951
Interpublic
Group
of
Cos.,
Inc.
(The)
1,595,767
57,257
News
Corp.
-
Class
A
1,576,858
|
December
31,
2024
23
SHARES
SECURITY
DESCRIPTION
VALUE
$
17,007
News
Corp.
-
Class
B
517,523
29,601
Omnicom
Group,
Inc.
2,546,870
90,666
Paramount
Global
-
Class
B
948,366
17,232,845
METALS
&
MINING
3.4%
111,431
Freeport-McMoRan,
Inc.
4,243,293
88,838
Newmont
Corp.
3,306,550
26,352
Nucor
Corp.
3,075,542
15,972
Steel
Dynamics,
Inc.
1,821,926
12,447,311
MORTGAGE
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
0.5%
56,161
AGNC
Investment
Corp.
517,243
36,035
Annaly
Capital
Management,
Inc.
659,440
37,319
Rithm
Capital
Corp.
404,165
22,801
Starwood
Property
Trust,
Inc.
432,079
2,012,927
OFFICE
REITS
0.5%
10,454
BXP,
Inc.
777,360
10,935
Cousins
Properties,
Inc.
335,048
7,606
Kilroy
Realty
Corp.
307,663
11,831
Vornado
Realty
Trust
497,375
1,917,446
PERSONAL
CARE
PRODUCTS
0.9%
13,023
Estee
Lauder
Cos.,
Inc.
(The)
-
Class
A
976,465
106,710
Kenvue,
Inc.
2,278,258
3,254,723
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
1.9%
21,676
CBRE
Group,
Inc.
-
Class
A
(a)
2,845,842
29,398
CoStar
Group,
Inc.
(a)
2,104,603
2,204
Howard
Hughes
Holdings,
Inc.
(a)
169,532
3,417
Jones
Lang
LaSalle,
Inc.
(a)
864,979
580
Seaport
Entertainment
Group,
Inc.
(a)
16,211
3,908
Zillow
Group,
Inc.
-
Class
A
(a)
276,882
10,868
Zillow
Group,
Inc.
-
Class
C
(a)
804,775
7,082,824
RESIDENTIAL
REITS
3.4%
22,598
American
Homes
4
Rent
-
Class
A
845,617
10,231
AvalonBay
Communities,
Inc.
2,250,514
7,659
Camden
Property
Trust
888,750
13,435
Equity
LifeStyle
Properties,
Inc.
894,771
24,542
Equity
Residential
1,761,134
4,624
Essex
Property
Trust,
Inc.
1,319,875
41,021
Invitation
Homes,
Inc.
1,311,441
8,411
Mid-America
Apartment
Communities,
Inc.
1,300,088
8,443
Sun
Communities,
Inc.
1,038,236
21,589
UDR,
Inc.
937,178
12,547,604
RETAIL
REITS
3.1%
7,213
Agree
Realty
Corp.
508,156
21,654
Brixmor
Property
Group,
Inc.
602,847
5,372
Federal
Realty
Investment
Trust
601,395
48,416
Kimco
Realty
Corp.
1,134,387
13,136
NNN
REIT,
Inc.
536,606
62,513
Realty
Income
Corp.
3,338,819
11,723
Regency
Centers
Corp.
866,681
21,970
Simon
Property
Group,
Inc.
3,783,455
11,372,346
SPECIALIZED
REITS
9.5%
33,179
American
Tower
Corp.
6,085,360
SHARES
SECURITY
DESCRIPTION
VALUE
$
31,244
Crown
Castle,
Inc.
2,835,705
16,190
CubeSmart
693,742
22,086
Digital
Realty
Trust,
Inc.
3,916,510
6,753
Equinix,
Inc.
6,367,335
15,251
Extra
Space
Storage,
Inc.
2,281,550
19,674
Gaming
and
Leisure
Properties,
Inc.
947,500
21,064
Iron
Mountain,
Inc.
2,214,037
6,313
Lamar
Advertising
Co.
-
Class
A
768,545
5,143
PotlatchDeltic
Corp.
201,863
11,342
Public
Storage
3,396,248
9,647
Rayonier,
Inc.
251,787
7,738
SBA
Communications
Corp.
1,577,004
75,183
VICI
Properties,
Inc.
-
Class
A
2,196,095
52,111
Weyerhaeuser
Co.
1,466,925
35,200,206
TOBACCO
2.4%
84,553
Altria
Group,
Inc.
4,421,276
36,984
Philip
Morris
International,
Inc.
4,451,025
8,872,301
WIRELESS
TELECOMMUNICATION
SERVICES
1.1%
18,975
T-Mobile
US,
Inc.
4,188,352
Total
Common
Stocks
(Cost
$366,256,268)
368,582,512
SHORT
TERM
INVESTMENTS
0.1%
192,718
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(b)
192,718
192,718
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(b)
192,718
Total
Short
Term
Investments
(Cost
$385,436)
385,436
Total
Investments
99.8%
(Cost
$366,641,704)
368,967,948
Other
Assets
in
Excess
of
Liabilities
0.2%
555,816
NET
ASSETS
100.0%
$369,523,764
24
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Shiller
CAPE
®
U.S.
Equities
ETF
(Cont.)
(Unaudited)
December
31,
2024
(a)
Non-income
producing
security.
(b)
Seven-day
yield
as
of
period
end.
Schedule
of
Investments
DoubleLine
Commercial
Real
Estate
ETF
(Unaudited)
December
31,
2024
|
December
31,
2024
25
P
RINCIPAL
A
MOUNT
$/S
HARES
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
COLLATERALIZED
LOAN
OBLIGATIONS
23.1%
ACREC
LLC
,
1,000,000
Series
2023-FL2-B
(CME
Term
SOFR
1
Month
+
3.48%,
3.48%
Floor)
7.88%
(a)
02/19/2038
1,007,790
Arbor
Realty
Commercial
Real
Estate
Notes
Ltd.
,
528,385
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.08%,
0.97%
Floor)
5.48%
(a)
12/15/2035
528,882
1,444,971
Series
2022-FL1-A
(SOFR
30
Day
Average
+
1.45%,
1.45%
Floor)
6.05%
(a)
01/15/2037
1,446,836
AREIT
Trust
,
471,617
Series
2021-CRE5-A
(CME
Term
SOFR
1
Month
+
1.19%,
1.08%
Floor)
5.58%
(a)
11/17/2038
472,491
379,000
Series
2021-CRE5-C
(CME
Term
SOFR
1
Month
+
2.36%,
2.25%
Floor)
6.75%
(a)
11/17/2038
378,903
2,380,307
Series
2022-CRE6-A
(SOFR
30
Day
Average
+
1.25%,
1.25%
Floor)
5.85%
(a)
01/20/2037
2,381,062
BDS
Ltd.
,
139,657
Series
2021-FL7-A
(CME
Term
SOFR
1
Month
+
1.18%,
1.07%
Floor)
5.56%
(a)
06/16/2036
139,767
BRSP
Ltd.
,
1,254,658
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.26%,
1.15%
Floor)
5.63%
(a)
08/19/2038
1,250,797
BSPDF
Issuer
Ltd.
,
147,767
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.31%,
1.20%
Floor)
5.71%
(a)
10/15/2036
145,852
BSPRT
Issuer
Ltd.
,
438,206
Series
2021-FL6-A
(CME
Term
SOFR
1
Month
+
1.21%,
1.10%
Floor)
5.61%
(a)
03/15/2036
437,809
2,000,000
Series
2023-FL10-A
(CME
Term
SOFR
1
Month
+
2.26%,
2.26%
Floor)
6.66%
(a)
09/15/2035
2,011,626
BXMT
Ltd.
,
200,060
Series
2020-FL2-A
(CME
Term
SOFR
1
Month
+
1.01%,
1.01%
Floor)
5.40%
(a)
02/15/2038
197,325
466,118
Series
2020-FL3-A
(CME
Term
SOFR
1
Month
+
1.51%,
1.51%
Floor)
5.90%
(a)
11/15/2037
466,482
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
FS
Rialto
,
2,000,000
Series
2019-FL1-B
(CME
Term
SOFR
1
Month
+
2.01%,
1.90%
Floor)
6.41%
(a)
12/16/2036
1,997,291
1,693,300
Series
2021-FL2-A
(CME
Term
SOFR
1
Month
+
1.33%,
1.33%
Floor)
5.73%
(a)
05/16/2038
1,693,055
1,388,257
Series
2021-FL3-A
(CME
Term
SOFR
1
Month
+
1.36%,
1.36%
Floor)
5.76%
(a)
11/16/2036
1,389,073
GPMT
Ltd.
,
566,622
Series
2021-FL3-A
(CME
Term
SOFR
1
Month
+
1.36%,
1.36%
Floor)
5.74%
(a)
07/16/2035
561,442
1,725,007
Series
2021-FL4-A
(CME
Term
SOFR
1
Month
+
1.46%,
1.35%
Floor)
5.82%
(a)
12/15/2036
1,707,288
320,000
Series
2021-FL4-AS
(CME
Term
SOFR
1
Month
+
1.81%,
1.70%
Floor)
6.17%
(a)
12/15/2036
314,050
Greystone
CRE
Notes
Ltd.
,
1,968,753
Series
2021-FL3-A
(CME
Term
SOFR
1
Month
+
1.13%,
1.02%
Floor)
5.53%
(a)
07/15/2039
1,969,082
550,000
Series
2021-FL3-B
(CME
Term
SOFR
1
Month
+
1.76%,
1.65%
Floor)
6.16%
(a)
07/15/2039
548,224
HERA
Commercial
Mortgage
Ltd.
,
256,489
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.16%,
1.05%
Floor)
5.54%
(a)
02/18/2038
254,642
HGI
CRE
CLO
Ltd.
,
794,534
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.16%,
1.16%
Floor)
5.56%
(a)
06/16/2036
794,638
615,804
Series
2021-FL2-A
(CME
Term
SOFR
1
Month
+
1.11%,
1.11%
Floor)
5.51%
(a)
09/17/2036
615,139
2,500,000
Series
2021-FL2-B
(CME
Term
SOFR
1
Month
+
1.61%,
1.61%
Floor)
6.01%
(a)
09/17/2036
2,502,249
HIG
RCP
LLC
,
1,250,000
Series
2023-FL1-B
(CME
Term
SOFR
1
Month
+
3.61%,
3.61%
Floor)
8.01%
(a)
09/19/2038
1,266,676
KREF
Ltd.
,
1,063,045
Series
2021-FL2-A
(CME
Term
SOFR
1
Month
+
1.18%,
1.07%
Floor)
5.57%
(a)
02/15/2039
1,061,647
26
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
250,000
Series
2022-FL3-AS
(CME
Term
SOFR
1
Month
+
1.90%,
1.90%
Floor)
6.27%
(a)
02/17/2039
249,204
LCCM
Trust
,
462,710
Series
2021-FL3-A
(CME
Term
SOFR
1
Month
+
1.56%,
1.56%
Floor)
5.96%
(a)
11/15/2038
463,960
LFT
CRE
Ltd.
,
1,574,202
Series
2021-FL1-A
(CME
Term
SOFR
1
Month
+
1.28%,
1.28%
Floor)
5.68%
(a)
06/15/2039
1,577,615
LoanCore
Issuer
Ltd.
,
514,081
Series
2021-CRE5-A
(CME
Term
SOFR
1
Month
+
1.41%,
1.41%
Floor)
5.81%
(a)
07/15/2036
514,461
2,000,000
Series
2021-CRE5-
AS
(CME
Term
SOFR
1
Month
+
1.86%,
1.86%
Floor)
6.26%
(a)
07/15/2036
2,000,795
943,900
Series
2021-CRE6-A
(CME
Term
SOFR
1
Month
+
1.41%,
1.30%
Floor)
5.81%
(a)
11/15/2038
944,147
MF1
Multifamily
Housing
Mortgage
Loan
Trust
,
535,091
Series
2021-FL6-A
(CME
Term
SOFR
1
Month
+
1.21%,
1.10%
Floor)
5.59%
(a)
07/16/2036
533,905
895,712
Series
2021-FL7-A
(CME
Term
SOFR
1
Month
+
1.19%,
1.08%
Floor)
5.57%
(a)
10/16/2036
893,925
1,000,000
Series
2021-FL7-B
(CME
Term
SOFR
1
Month
+
1.86%,
1.75%
Floor)
6.24%
(a)
10/16/2036
984,157
1,500,000
Series
2023-FL12-C
(CME
Term
SOFR
1
Month
+
3.78%,
3.78%
Floor)
8.14%
(a)
10/19/2038
1,509,353
PFP
Ltd.
,
1,400,000
Series
2021-8-C
(CME
Term
SOFR
1
Month
+
1.91%,
1.80%
Floor)
6.31%
(a)
08/09/2037
1,403,301
Ready
Capital
Mortgage
Financing
LLC
,
2,077,301
Series
2021-FL7-A
(CME
Term
SOFR
1
Month
+
1.31%,
1.20%
Floor)
5.65%
(a)
11/25/2036
2,085,847
1,110,258
Series
2022-FL10-A
(CME
Term
SOFR
1
Month
+
2.55%,
2.55%
Floor)
6.89%
(a)
10/25/2039
1,116,652
Shelter
Growth
CRE
Issuer
Ltd.
,
726,902
Series
2022-FL4-A
(CME
Term
SOFR
1
Month
+
2.30%,
2.30%
Floor)
6.66%
(a)
06/17/2037
729,302
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
STWD
Ltd.
,
21,027
Series
2019-FL1-AS
(CME
Term
SOFR
1
Month
+
1.51%,
1.51%
Floor)
5.91%
(a)
07/15/2038
20,882
2,400,000
Series
2019-FL1-B
(CME
Term
SOFR
1
Month
+
1.71%,
1.71%
Floor)
6.11%
(a)
07/15/2038
2,378,521
880,116
Series
2022-FL3-A
(SOFR
30
Day
Average
+
1.35%,
1.35%
Floor)
5.95%
(a)
11/15/2038
878,868
TRTX
Issuer
Ltd.
,
2,826,396
Series
2022-FL5-A
(CME
Term
SOFR
1
Month
+
1.65%,
1.65%
Floor)
6.03%
(a)
02/15/2039
2,821,803
2,100,000
Series
2022-FL5-AS
(CME
Term
SOFR
1
Month
+
2.15%,
2.15%
Floor)
6.53%
(a)
02/15/2039
2,090,188
VMC
Finance
LLC
,
783,321
Series
2022-FL5-A
(SOFR
30
Day
Average
+
1.90%,
1.90%
Floor)
6.50%
(a)
02/18/2039
784,489
Total
Collateralized
Loan
Obligations
(Cost
$51,065,955)
51,521,493
NON-AGENCY
COMMERCIAL
MORTGAGE
BACKED
OBLIGATIONS
61.7%
280
Park
Avenue
Mortgage
Trust
,
1,500,000
Series
2017-280P-A
(CME
Term
SOFR
1
Month
+
1.18%,
1.13%
Floor)
5.58%
(a)
09/15/2034
1,489,732
BAMLL
Commercial
Mortgage
Securities
Trust
,
1,800,000
Series
2013-WBRK-A
3.53%
(a)(b)
03/10/2037
1,769,400
1,000,000
Series
2015-200P-A
3.22%
(a)
04/14/2033
991,729
BANK
,
559,454
Series
2017-BNK5-A4
3.13%
06/15/2060
537,649
1,000,000
Series
2019-BN19-A2
2.93%
08/15/2061
903,362
380,110
Series
2021-BN33-A1
0.61%
05/15/2064
369,666
650,000
Series
2021-BN36-A2
2.13%
09/15/2064
610,560
521,998
Series
2022-BNK39-A1
1.74%
02/15/2055
505,246
114,701
Series
2023-BNK45-A1
5.43%
02/15/2056
115,470
828,878
Series
2023-BNK46-A1
6.01%
08/15/2056
841,740
1,808,921
Series
2024-BNK47-A1
5.52%
06/15/2057
1,834,057
1,944,117
Series
2024-BNK48-A1
4.33%
10/15/2057
1,920,707
BANK5
,
373,421
Series
2023-5YR2-A1
6.20%
07/15/2056
380,394
1,500,000
Series
2024-5YR10-A3
5.30%
10/15/2057
1,508,404
|
December
31,
2024
27
Schedule
of
Investments
DoubleLine
Commercial
Real
Estate
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
1,500,000
Series
2024-5YR11-A3
5.89%
11/15/2057
1,544,531
840,772
Series
2024-5YR7-A1
5.82%
06/15/2057
850,326
1,866,348
Series
2024-5YR8-A1
5.19%
08/15/2057
1,877,027
1,000,000
Series
2024-5YR9-A3
5.61%
08/15/2057
1,018,317
BANK5
Trust
,
1,778,756
Series
2024-5YR6-A1
5.86%
05/15/2057
1,810,450
BBCMS
Mortgage
Trust
,
88,094
Series
2017-C1-ASB
3.49%
02/15/2050
86,887
539,238
Series
2023-C19-A1
5.70%
04/15/2056
544,092
880,557
Series
2023-C22-A1
6.36%
11/15/2056
905,419
775,456
Series
2024-5C25-A1
5.49%
03/15/2057
782,243
1,920,973
Series
2024-C24-A1
5.23%
02/15/2057
1,927,235
2,024,345
Series
2024-C28-A1
4.91%
09/15/2057
2,022,813
BBCMS
Trust
,
550,000
Series
2018-CBM-A
(CME
Term
SOFR
1
Month
+
1.30%,
1.25%
Floor)
5.70%
(a)
07/15/2037
545,176
Benchmark
Mortgage
Trust
,
86,620
Series
2018-B2-A2
3.66%
02/15/2051
85,309
1,379,000
Series
2019-B13-A3
2.70%
08/15/2057
1,245,477
572,405
Series
2019-B13-ASB
2.89%
08/15/2057
548,091
11,967,396
Series
2019-B14-XA
0.75%
(b)(c)
12/15/2062
276,577
668,274
Series
2019-B15-A2
2.91%
12/15/2072
635,620
34,433
Series
2020-B21-A1
0.54%
12/17/2053
34,224
323,809
Series
2022-B37-A1
5.75%
(b)
11/15/2055
327,521
293,407
Series
2023-V2-A1
5.85%
05/15/2055
295,664
14,063,003
Series
2023-V2-XA
0.99%
(b)(c)
05/15/2055
393,171
223,256
Series
2024-V10-A1
4.48%
09/15/2057
220,306
209,000
Series
2024-V12-A1
5.05%
12/15/2057
208,967
305,927
Series
2024-V5-A1
5.32%
01/10/2057
307,838
1,650,000
Series
2024-V7-A1
5.63%
05/15/2056
1,672,747
920,025
Series
2024-V8-A1
5.51%
07/15/2057
929,728
2,000,000
Series
2024-V9-A3
5.60%
08/15/2057
2,034,766
BMARK
,
623,283
Series
2023-V4-A1
6.45%
11/15/2056
637,879
BMO
Mortgage
Trust
,
372,839
Series
2022-C1-A1
2.20%
02/15/2055
364,106
107,414
Series
2022-C3-A1
5.25%
(b)
09/15/2054
107,682
469,191
Series
2023-5C2-A1
6.80%
11/15/2056
479,873
476,797
Series
2023-C4-A1
5.29%
02/15/2056
478,758
1,421,712
Series
2023-C5-A1
5.74%
06/15/2056
1,434,801
1,572,420
Series
2023-C7-A1
5.90%
12/15/2056
1,598,261
85,000
Series
2024-5C3-A1
5.14%
02/15/2057
85,109
1,814,599
Series
2024-5C4-A1
6.02%
05/15/2057
1,850,322
2,128,202
Series
2024-5C5-A1
5.20%
02/15/2057
2,130,720
2,000,000
Series
2024-5C6-A3
5.32%
09/15/2057
2,007,770
1,290,175
Series
2024-5C7-A1
4.83%
11/15/2057
1,287,456
1,454,926
Series
2024-C9-A1
5.48%
07/15/2057
1,469,939
BX
Commercial
Mortgage
Trust
,
409,752
Series
2019-IMC-A
(CME
Term
SOFR
1
Month
+
1.05%,
1.00%
Floor)
5.44%
(a)
04/15/2034
406,967
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
607,423
Series
2021-21M-A
(CME
Term
SOFR
1
Month
+
0.84%,
0.73%
Floor)
5.24%
(a)
10/15/2036
604,306
519,508
Series
2021-ACNT-C
(CME
Term
SOFR
1
Month
+
1.61%,
1.50%
Floor)
6.01%
(a)
11/15/2038
518,616
1,187,509
Series
2021-CIP-C
(CME
Term
SOFR
1
Month
+
1.59%,
1.47%
Floor)
5.98%
(a)
12/15/2038
1,186,197
2,262,000
Series
2021-VOLT-B
(CME
Term
SOFR
1
Month
+
1.06%,
0.95%
Floor)
5.46%
(a)
09/15/2036
2,254,695
1,901,733
Series
2021-XL2-A
(CME
Term
SOFR
1
Month
+
0.80%,
0.69%
Floor)
5.20%
(a)
10/15/2038
1,900,437
1,000,000
Series
2024-AIR2-C
(CME
Term
SOFR
1
Month
+
2.24%,
2.24%
Floor)
6.64%
(a)
10/15/2041
1,004,723
BX
Trust
,
1,987,000
Series
2018-GW-C
(CME
Term
SOFR
1
Month
+
1.52%,
1.22%
Floor)
5.92%
(a)
05/15/2035
1,987,377
2,500,000
Series
2021-ARIA-B
(CME
Term
SOFR
1
Month
+
1.41%,
1.30%
Floor)
5.81%
(a)
10/15/2036
2,494,621
2,020,065
Series
2021-BXMF-B
(CME
Term
SOFR
1
Month
+
1.16%,
1.04%
Floor)
5.55%
(a)
10/15/2026
2,011,192
1,000,000
Series
2021-LGCY-B
(CME
Term
SOFR
1
Month
+
0.97%,
0.86%
Floor)
5.37%
(a)
10/15/2036
993,090
1,267,994
Series
2021-RISE-B
(CME
Term
SOFR
1
Month
+
1.36%,
1.25%
Floor)
5.76%
(a)
11/15/2036
1,262,565
2,000,000
Series
2024-VLT4-A
(CME
Term
SOFR
1
Month
+
1.49%,
1.49%
Floor)
5.89%
(a)
07/15/2029
2,010,858
CEDR
Commercial
Mortgage
Trust
,
1,000,000
Series
2022-SNAI-A
(CME
Term
SOFR
1
Month
+
0.99%,
0.99%
Floor)
5.39%
(a)
02/15/2039
957,613
Citigroup
Commercial
Mortgage
Trust
,
999,938
Series
2015-P1-A4
3.46%
09/15/2048
995,545
500,000
Series
2015-P1-A5
3.72%
09/15/2048
495,878
298,179
Series
2016-C1-A3
2.94%
05/10/2049
292,250
1,751,000
Series
2016-P4-A4
2.90%
07/10/2049
1,699,283
890,901
Series
2017-P7-A3
3.44%
04/14/2050
864,729
1,437,694
Series
2019-GC43-AAB
2.96%
11/10/2052
1,376,178
Commercial
Mortgage
Trust
,
1,250,000
Series
2015-CR25-A4
3.76%
08/10/2048
1,240,099
28
DoubleLine
ETF
Trust
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
320,000
Series
2015-LC21-A4
3.71%
07/10/2048
318,215
585,938
Series
2015-PC1-A5
3.90%
07/10/2050
583,990
2,500,000
Series
2016-COR1-A4
3.09%
10/10/2049
2,412,050
CORE
Mortgage
Trust
,
432,207
Series
2019-CORE-B
(CME
Term
SOFR
1
Month
+
1.15%,
1.10%
Floor)
5.55%
(a)
12/15/2031
427,432
CSAIL
Commercial
Mortgage
Trust
,
652,373
Series
2015-C3-A3
3.45%
08/15/2048
649,354
1,962,263
Series
2017-CX9-A4
3.18%
09/15/2050
1,893,794
27,770
Series
2020-C19-A1
1.30%
03/15/2053
27,618
CSMC
Trust
,
1,600,000
Series
2016-NXSR-A4
3.79%
(b)
12/15/2049
1,561,656
DBJPM
Mortgage
Trust
,
1,385,000
Series
2016-C3-A5
2.89%
08/10/2049
1,339,912
469,247
Series
2020-C9-A2
1.90%
08/15/2053
450,946
2,250,000
Series
2020-C9-A3
1.88%
08/15/2053
2,022,743
Del
Amo
Fashion
Center
Trust
,
1,500,000
Series
2017-AMO-A
3.64%
(a)(b)
06/05/2035
1,411,937
Extended
Stay
America
Trust
,
1,453,305
Series
2021-ESH-B
(CME
Term
SOFR
1
Month
+
1.49%,
1.38%
Floor)
5.89%
(a)
07/15/2038
1,455,462
GS
Mortgage
Securities
Corp.
Trust
,
1,500,000
Series
2021-ARDN-B
(CME
Term
SOFR
1
Month
+
1.76%,
1.65%
Floor)
6.16%
(a)
11/15/2036
1,498,144
1,000,000
Series
2021-STAR-A
(CME
Term
SOFR
1
Month
+
1.06%,
0.95%
Floor)
5.47%
(a)
12/15/2036
997,702
GS
Mortgage
Securities
Trust
,
326,968
Series
2013-GC13-AS
3.87%
(a)(b)
07/10/2046
315,034
200,000
Series
2015-GC28-B
3.98%
02/10/2048
198,715
1,000,000
Series
2015-GC34-A4
3.51%
10/10/2048
982,347
980,000
Series
2018-GS10-A2
4.00%
07/10/2051
953,738
234,459
Series
2019-GC39-A3
3.31%
05/10/2052
217,295
196,427
Series
2019-GSA1-AAB
2.99%
11/10/2052
188,157
HTL
Commercial
Mortgage
Trust
,
2,000,000
Series
2024-T53-A
5.88%
(a)(b)
05/10/2039
2,012,008
J.P.
Morgan
Chase
Commercial
Mortgage
Securities
Trust
,
2,074,832
Series
2016-JP2-A3
2.56%
08/15/2049
2,029,010
540,665
Series
2016-JP3-A4
2.63%
08/15/2049
523,333
JPMBB
Commercial
Mortgage
Securities
Trust
,
625,948
Series
2015-C30-A4
3.55%
07/15/2048
622,702
491,453
Series
2015-C31-A3
3.80%
08/15/2048
487,040
680,000
Series
2015-C32-A5
3.60%
11/15/2048
668,809
590,000
Series
2015-C33-AS
4.02%
12/15/2048
580,619
JPMCC
Commercial
Mortgage
Securities
Trust
,
137,082
Series
2017-JP5-A4
3.46%
03/15/2050
135,306
1,640,000
Series
2017-JP5-A5
3.72%
03/15/2050
1,591,440
2,000,000
Series
2019-COR5-A3
3.12%
06/13/2052
1,847,576
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
JPMDB
Commercial
Mortgage
Securities
Trust
,
562,131
Series
2018-C8-A3
3.94%
06/15/2051
545,165
LCCM
Trust
,
538,125
Series
2017-LC26-A3
3.29%
(a)
07/12/2050
518,061
MF1
Multifamily
Housing
Mortgage
Loan
Trust
,
1,500,000
Series
2021-FL5-B
(CME
Term
SOFR
1
Month
+
1.56%,
1.56%
Floor)
5.95%
(a)
07/15/2036
1,499,663
MHC
Commercial
Mortgage
Trust
,
1,000,000
Series
2021-MHC-B
(CME
Term
SOFR
1
Month
+
1.22%,
1.10%
Floor)
5.61%
(a)
04/15/2038
998,864
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
,
1,000,000
Series
2015-C23-AS
4.00%
(b)
07/15/2050
991,000
211,854
Series
2017-C33-A3
3.30%
05/15/2050
210,264
Morgan
Stanley
Capital
I
,
1,337,229
Series
2017-HR2-A3
3.33%
12/15/2050
1,276,857
Morgan
Stanley
Capital
I
Trust
,
1,000,000
Series
2016-UBS9-A4
3.59%
03/15/2049
983,369
8,086,769
Series
2019-L2-XA
1.00%
(b)(c)
03/15/2052
276,798
992,994
Series
2024-NSTB-A
3.90%
(a)(b)
09/24/2057
959,216
MSWF
Commercial
Mortgage
Trust
,
159,365
Series
2023-1-A1
5.54%
05/15/2056
160,543
1,265,387
Series
2023-2-A1
5.96%
12/15/2056
1,283,207
UBS
Commercial
Mortgage
Trust
,
391,905
Series
2018-C13-A3
4.07%
10/15/2051
383,355
1,600,366
Series
2018-C8-A3
3.72%
02/15/2051
1,545,581
VEGAS
Trust
,
1,500,000
Series
2024-TI-A
5.52%
(a)
11/10/2039
1,504,924
Wells
Fargo
Commercial
Mortgage
Trust
,
694,803
Series
2015-C27-A5
3.45%
02/15/2048
692,433
1,250,000
Series
2015-C30-A4
3.66%
09/15/2058
1,239,824
1,000,000
Series
2015-LC22-A4
3.84%
09/15/2058
991,330
328,000
Series
2015-NXS3-AS
3.97%
(b)
09/15/2057
323,758
1,000,000
Series
2015-P2-A4
3.81%
12/15/2048
989,772
745,461
Series
2016-BNK1-A2
2.40%
08/15/2049
719,649
1,080,000
Series
2016-BNK1-A3
2.65%
08/15/2049
1,037,641
725,000
Series
2016-C33-A4
3.43%
03/15/2059
713,484
1,250,000
Series
2016-C34-A4
3.10%
06/15/2049
1,211,938
2,448,048
Series
2019-C50-A4
3.47%
05/15/2052
2,325,043
500,000
Series
2019-C53-A3
2.79%
10/15/2052
454,511
1,000,000
Series
2019-JWDR-C
3.04%
(a)(b)
09/15/2031
960,603
987,814
Series
2021-SAVE-A
(CME
Term
SOFR
1
Month
+
1.26%,
1.15%
Floor)
5.66%
(a)
02/15/2040
989,366
1,578,711
Series
2024-5C1-A1
5.23%
07/15/2057
1,585,908
2,364,108
Series
2024-C63-A1
4.89%
08/15/2057
2,360,378
WFRBS
Commercial
Mortgage
Trust
,
99,964
Series
2013-C14-AS
3.49%
06/15/2046
97,049
Total
Non-Agency
Commercial
Mortgage
Backed
Obligations
(Cost
$136,349,288)
137,632,171
US
GOVERNMENT
AND
AGENCY
MORTGAGE
BACKED
OBLIGATIONS
11.1%
FHLMC
,
2,005,212
Pool
WN2001
3.26%
09/01/2027
1,937,879
|
December
31,
2024
29
Schedule
of
Investments
DoubleLine
Commercial
Real
Estate
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
FHLMC
Multifamily
Structured
Pass-Through
Certificates
,
2,043,076
Series
K089-A1
3.34%
10/25/2028
1,987,489
4,000,000
Series
K518-A2
5.40%
01/25/2029
4,097,235
3,000,000
Series
K741-A2
1.60%
12/25/2027
2,755,664
FNMA
,
3,170,045
Pool
AN4952
3.18%
04/01/2027
3,077,743
3,170,044
Pool
AN5139
3.13%
04/01/2027
3,069,162
3,500,000
Pool
BL2869
2.79%
07/01/2029
3,221,442
4,500,000
Pool
BZ1029
4.93%
06/01/2029
4,548,451
Total
US
Government
and
Agency
Mortgage
Backed
Obligations
(Cost
$25,293,132)
24,695,065
SHORT
TERM
INVESTMENTS
3.3%
3,676,877
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(d)
3,676,877
3,676,877
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(d)
3,676,877
Total
Short
Term
Investments
(Cost
$7,353,754)
7,353,754
Total
Investments
99.2%
(Cost
$220,062,129)
221,202,483
Other
Assets
in
Excess
of
Liabilities
0.8%
1,684,273
NET
ASSETS
100.0%
$222,886,756
(a)
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.
At
December
31,
2024,
the
value
of
these
securities
amounted
to
approximately
$91,459,203
or
41.03%
of
net
assets.
(b)
Coupon
rate
is
variable
or
floats
based
on
components
including
but
not
limited
to
reference
rate
and
spread.
These
securities
may
not
indicate
a
reference
rate
and/or
spread
in
their
description.
The
rate
disclosed
is
as
of
period
end.
(c)
Interest
only
security.
(d)
Seven-day
yield
as
of
period
end.
Abbreviations:
FHLMC
Federal
Home
Loan
Mortgage
Corporation
FNMA
Federal
National
Mortgage
Association
SOFR
Secured
Overnight
Financing
Rate
Schedule
of
Investments
DoubleLine
Mortgage
ETF
(Unaudited)
December
31,
2024
30
DoubleLine
ETF
Trust
P
RINCIPAL
A
MOUNT
$/S
HARES
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
NON-AGENCY
RESIDENTIAL
COLLATERALIZED
MORTGAGE
OBLIGATIONS
14.8%
CIM
Trust
,
806,750
Series
2023-R4-A1
5.00%
(a)(b)
05/25/2062
799,101
COLT
Mortgage
Loan
Trust
,
1,474,277
Series
2024-5-A2
5.38%
(b)(c)
08/25/2069
1,461,954
Connecticut
Avenue
Securities
Trust
,
699,356
Series
2023-R07-
2M1
(SOFR
30
Day
Average
+
1.95%)
6.51%
(b)
09/25/2043
705,996
2,000,000
Series
2024-R01-
1M2
(SOFR
30
Day
Average
+
1.80%,
1.80%
Floor)
6.37%
(b)
01/25/2044
2,022,135
1,500,000
Series
2024-R02-
1M2
(SOFR
30
Day
Average
+
1.80%,
1.80%
Floor)
6.37%
(b)
02/25/2044
1,516,115
3,000,000
Series
2024-R05-
2M2
(SOFR
30
Day
Average
+
1.70%,
1.90%
Floor)
6.27%
(b)
07/25/2044
3,019,297
CSMC
Trust
,
860,317
Series
2018-RPL9-A
3.85%
(a)(b)
09/25/2057
822,440
954,010
Series
2021-RPL3-A1
2.00%
(a)(b)
01/25/2060
833,047
Deephaven
Residential
Mortgage
Trust
,
765,912
Series
2022-2-A1
4.30%
(a)(b)
03/25/2067
729,830
FHLMC
STACR
REMIC
Trust
,
1,000,000
Series
2022-DNA3-
M1B
(SOFR
30
Day
Average
+
2.90%)
7.47%
(b)
04/25/2042
1,036,604
1,135,509
Series
2023-HQA2-
M1A
(SOFR
30
Day
Average
+
2.00%)
6.57%
(b)
06/25/2043
1,142,553
6,000,000
Series
2024-DNA1-M2
(SOFR
30
Day
Average
+
1.95%)
6.52%
(b)
02/25/2044
6,086,658
6,000,000
Series
2024-HQA1-M2
(SOFR
30
Day
Average
+
2.00%)
6.57%
(b)
03/25/2044
6,098,492
New
Residential
Mortgage
Loan
Trust
,
4,855,873
Series
2024-NQM1-A1
6.13%
(b)(c)
03/25/2064
4,889,237
OBX
Trust
,
1,178,599
Series
2023-NQM10-A1
6.46%
(b)(c)
10/25/2063
1,190,987
730,423
Series
2023-NQM3-A1
5.95%
(b)(c)
02/25/2063
733,176
1,448,553
Series
2023-NQM5-A1A
6.57%
(b)(c)
06/25/2063
1,465,276
1,656,887
Series
2024-NQM1-A2
6.25%
(b)(c)
11/25/2063
1,665,235
835,291
Series
2024-NQM4-A1
6.07%
(b)(c)
01/25/2064
840,155
1,698,352
Series
2024-NQM6-A1
6.45%
(b)(c)
02/25/2064
1,716,588
Verus
Securitization
Trust
,
1,338,594
Series
2023-5-A1
6.48%
(b)(c)
06/25/2068
1,349,986
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
742,148
Series
2023-7-A1
7.07%
(b)(c)
10/25/2068
755,417
1,551,592
Series
2023-8-A1
6.26%
(b)(c)
12/25/2068
1,564,440
851,707
Series
2023-INV3-A1
6.88%
(a)(b)
11/25/2068
864,499
1,594,288
Series
2024-1-A2
5.92%
(b)(c)
01/25/2069
1,596,487
2,833,118
Series
2024-8-A2
5.62%
(b)(c)
10/25/2069
2,820,415
4,000,000
Series
2024-9-A2
5.69%
(b)(c)
11/25/2069
4,018,360
Total
Non-Agency
Residential
Collateralized
Mortgage
Obligations
(Cost
$51,299,712)
51,744,480
US
GOVERNMENT
AND
AGENCY
MORTGAGE
BACKED
OBLIGATIONS
97.5%
FHLMC
REMICS
,
1,998,359
Series
4631-GF
(SOFR
30
Day
Average
+
0.61%,
0.50%
Floor,
6.50%
Cap)
5.21%
11/15/2046
1,967,892
1,267,076
Series
5008-DI
3.00%
(d)
09/25/2050
171,071
7,289,083
Series
5020-IH
3.00%
(d)
08/25/2050
1,269,594
6,236,287
Series
5083-IH
2.50%
(d)
03/25/2051
945,663
3,133,981
Series
5092-FK
(SOFR
30
Day
Average
+
0.70%,
0.70%
Floor,
4.00%
Cap)
4.00%
03/25/2051
2,552,920
5,891,074
Series
5188-IA
3.00%
(d)
02/25/2052
913,964
9,055,974
Series
5377-
2.50%
(d)
12/25/2051
1,148,506
FHLMC
STRIPS
,
6,764,980
Series
389-C19
2.50%
(d)
04/15/2052
1,000,076
FHLMC
UMBS
,
5,220,298
Pool
RA2853
2.50%
06/01/2050
4,307,054
2,332,208
Pool
SD2912
5.00%
05/01/2053
2,265,524
1,978,665
Pool
SD3139
3.50%
07/01/2052
1,754,377
4,011,525
Pool
SD3354
5.00%
06/01/2053
3,884,513
6,821,670
Pool
SD3530
6.00%
08/01/2053
6,917,299
2,691,758
Pool
SD3745
6.00%
09/01/2053
2,728,607
4,602,950
Pool
SD4296
2.00%
02/01/2052
3,631,746
4,735,461
Pool
SD4650
5.00%
01/01/2054
4,599,095
4,330,104
Pool
SD4794
6.50%
01/01/2054
4,533,104
2,708,252
Pool
SD4888
6.00%
02/01/2054
2,750,179
6,826,806
Pool
SD5525
5.50%
06/01/2054
6,820,354
9,386,235
Pool
SD5573
3.00%
08/01/2052
8,100,647
2,811,703
Pool
SD5617
6.00%
06/01/2054
2,863,812
2,255,410
Pool
SD5726
3.00%
07/01/2052
1,928,969
4,644,921
Pool
SD5968
6.00%
07/01/2054
4,715,020
6,477,377
Pool
SD6053
5.50%
08/01/2054
6,454,793
6,779,501
Pool
SD6570
5.50%
10/01/2054
6,752,620
6,749,835
Pool
SD6874
5.50%
11/01/2054
6,750,155
10,669,762
Pool
SD7512
3.00%
02/01/2050
9,242,088
11,048,989
Pool
SD7535
2.50%
02/01/2051
9,176,074
6,102,556
Pool
SD7550
3.00%
02/01/2052
5,295,579
8,361,824
Pool
SD7553
3.00%
03/01/2052
7,208,341
4,659,597
Pool
SD7565
5.50%
09/01/2053
4,655,512
6,951,373
Pool
SD7567
5.50%
02/01/2054
6,964,800
2,848,725
Pool
SD8288
5.00%
01/01/2053
2,751,858
FNMA
REMICS
,
1,244,484
Series
2017-99-PY
4.00%
12/25/2047
1,141,127
3,512,917
Series
2021-3-NI
2.50%
(d)
02/25/2051
540,275
5,601,879
Series
2021-88-KI
3.50%
(d)
03/25/2046
957,409
5,785,365
Series
2021-94-
3.00%
(d)
01/25/2052
991,088
5,048,825
Series
2023-51-BI
3.50%
(d)
04/25/2053
975,385
5,652,640
Series
2024-9-BI
3.00%
(d)
03/25/2051
972,334
FNMA
STRIPS
,
8,823,907
Series
427-C84
3.50%
(d)
11/25/2040
1,255,549
|
December
31,
2024
31
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
6,994,430
Series
437-C8
2.50%
(d)
06/25/2052
1,120,317
FNMA
UMBS
,
7,092,484
Pool
CA6032
2.50%
06/01/2050
5,884,739
11,018,022
Pool
CA7028
2.50%
09/01/2050
9,150,320
2,761,750
Pool
CB7781
5.50%
01/01/2054
2,732,853
1,709,121
Pool
CB8020
6.50%
02/01/2054
1,749,062
7,312,352
Pool
CB8501
6.00%
05/01/2054
7,489,667
5,622,890
Pool
FM7529
3.00%
05/01/2051
4,849,659
5,946,893
Pool
FS0984
3.00%
04/01/2052
5,125,186
3,873,426
Pool
FS2040
2.00%
02/01/2052
3,030,298
4,646,548
Pool
FS2141
3.50%
06/01/2052
4,145,936
2,725,696
Pool
FS5704
2.00%
04/01/2052
2,124,733
5,342,649
Pool
FS6476
2.50%
11/01/2051
4,428,634
3,750,164
Pool
FS7114
5.50%
02/01/2054
3,750,933
6,859,349
Pool
FS7738
6.00%
03/01/2054
7,025,669
5,937,064
Pool
FS7819
2.00%
03/01/2052
4,685,710
7,793,984
Pool
FS8660
5.50%
08/01/2054
7,795,584
9,431,836
Pool
FS9026
5.50%
09/01/2053
9,410,522
3,537,520
Pool
MA3357
4.00%
05/01/2048
3,281,863
11,412,928
Pool
MA4256
2.50%
02/01/2051
9,406,077
4,607,879
Pool
MA4492
2.00%
12/01/2051
3,603,518
3,627,063
Pool
MA4733
4.50%
09/01/2052
3,419,752
449,796
Pool
MA5038
5.00%
06/01/2053
435,034
2,610,906
Pool
MA5039
5.50%
06/01/2053
2,580,058
10,224,899
Pool
MA5503
5.50%
10/01/2044
10,196,978
FNMA/FHLMC
UMBS,
30
Year,
Single
Family
,
30,552,000
Pool
2.50%
(e)
01/25/2055
24,887,946
14,012,000
Pool
3.00%
(e)
01/25/2055
11,902,537
18,219,000
Pool
5.50%
(e)
01/25/2055
17,980,418
GNMA
,
938,008
Series
2016-116-DF
(CME
Term
SOFR
1
Month
+
0.51%,
0.40%
Floor,
6.50%
Cap)
4.88%
09/20/2046
920,154
1,320,647
Series
2019-31-GF
(CME
Term
SOFR
1
Month
+
0.56%,
0.45%
Floor,
6.50%
Cap)
4.93%
03/20/2049
1,300,795
7,538,840
Series
2020-126-KI
2.50%
(d)
08/20/2050
1,127,268
16,768,380
Series
2020-151-MI
2.50%
(d)
10/20/2050
2,535,697
3,413,488
Series
2020-153-CI
2.50%
(d)
10/20/2050
477,303
6,500,919
Series
2020-160-VI
2.50%
(d)
10/20/2050
885,293
10,134,119
Series
2020-167-WI
4.00%
(d)
08/20/2046
1,566,391
2,728,179
Series
2020-17-IG
3.00%
(d)
02/20/2050
428,199
7,592,771
Series
2020-173-MI
2.50%
(d)
11/20/2050
1,155,876
3,845,142
Series
2020-183-JI
2.50%
(d)
11/20/2050
570,115
9,591,659
Series
2020-188-BI
2.50%
(d)
12/20/2050
1,381,470
5,732,996
Series
2020-51-ID
3.50%
(d)
04/20/2050
1,028,919
6,503,533
Series
2021-115-MI
2.50%
(d)
05/20/2051
808,483
8,606,704
Series
2021-140-IH
2.50%
(d)
08/20/2051
1,220,286
2,052,648
Series
2021-142-
3.00%
(d)
08/20/2051
328,039
3,804,583
Series
2021-206-AI
3.50%
(d)
11/20/2051
673,825
5,900,163
Series
2021-57-JI
3.00%
(d)
03/20/2051
989,241
7,966,175
Series
2021-77-IW
2.50%
(d)
12/20/2050
905,510
7,182,587
Series
2022-204-
3.50%
(d)
04/20/2052
1,185,918
6,607,026
Series
2022-207-
3.00%
(d)
08/20/2051
1,131,706
7,754,625
Series
2022-83-
2.50%
(d)
11/20/2051
1,140,802
4,943,978
Series
2023-24-IH
3.50%
(d)
07/20/2051
928,350
5,830,178
Series
2024-24-BI
3.00%
(d)
12/20/2051
937,125
8,637,672
Series
2024-61-IA
2.50%
(d)
02/20/2051
1,226,810
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
8,488,522
Series
2024-79-CI
3.50%
(d)
02/20/2052
1,358,203
Total
US
Government
and
Agency
Mortgage
Backed
Obligations
(Cost
$347,139,293)
342,260,754
SHORT
TERM
INVESTMENTS
2.9%
5,043,019
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(f)
5,043,019
5,043,019
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(f)
5,043,019
Total
Short
Term
Investments
(Cost
$10,086,038)
10,086,038
Total
Investments
115.2%
(Cost
$408,525,043)
404,091,272
Liabilities
in
Excess
of
Other
Assets
(15.2)%
(53,366,192)
NET
ASSETS
100.0%
$350,725,080
32
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Mortgage
ETF
(Cont.)
(Unaudited)
December
31,
2024
(a)
Coupon
rate
is
variable
or
floats
based
on
components
including
but
not
limited
to
reference
rate
and
spread.
These
securities
may
not
indicate
a
reference
rate
and/or
spread
in
their
description.
The
rate
disclosed
is
as
of
period
end.
(b)
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.
At
December
31,
2024,
the
value
of
these
securities
amounted
to
approximately
$51,744,480
or
14.75%
of
net
assets.
(c)
Step
bond;
coupon
rate
changes
based
on
a
predetermined
schedule
or
event.
The
interest
rate
shown
is
the
rate
in
effect
as
of
period
end.
(d)
Interest
only
security.
(e)
Represents
or
includes
a
TBA
transaction.
(f)
Seven-day
yield
as
of
period
end.
Abbreviations:
FHLMC
Federal
Home
Loan
Mortgage
Corporation
FNMA
Federal
National
Mortgage
Association
GNMA
Government
National
Mortgage
Association
SOFR
Secured
Overnight
Financing
Rate
UMBS
Uniform
Mortgage
Backed
Securities
STACR
Structured
Agency
Credit
Risk
STRIPS
Separate
Trading
of
Registered
Interest
and
Principal
of
Securities
REMIC
Real
Estate
Mortgage
Investment
Conduit
Futures
Contracts
Description
Long/Short
Contract
Quantity
Expiration
Date
Notional
Amount
(1)
Unrealized
Appreciation
(Depreciation)
/
Value
U.S.
Treasury
10
Year
Ultra
Bond
Short
(225)
03/20/2025
$
(
25,045,313
)
$
567,171
U.S.
Treasury
5
Year
Note
Long
190
03/31/2025
20,197,891
30,664
U.S.
Treasury
2
Year
Note
Long
120
03/31/2025
24,673,125
(
49,757
)
U.S.
Treasury
Ultra
Bond
Long
15
03/20/2025
1,783,594
(
56,964
)
U.S.
Treasury
Long
Bond
Long
155
03/20/2025
17,645,781
(
467,308
)
$23,806
(1)
Notional
Amount
is
determined
based
on
the
number
of
contracts
multiplied
by
the
contract
size
and
the
quoted
daily
settlement
price
in
US
dollars.
Schedule
of
Investments
DoubleLine
Commodity
Strategy
ETF
(Consolidated)
(Unaudited)
December
31,
2024
|
December
31,
2024
33
P
RINCIPAL
A
MOUNT
$/S
HARES
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
SHORT
TERM
INVESTMENTS
99.4%
491,503
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(a)(b)
491,503
491,503
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(a)(b)
491,503
5,000,000
U.S.
Treasury
Bills
0.00%
(b)
01/09/2025
4,995,913
2,000,000
U.S.
Treasury
Bills
0.00%
(b)
02/06/2025
1,991,809
10,000,000
U.S.
Treasury
Bills
0.00%
(b)
04/22/2025
9,872,401
4,500,000
U.S.
Treasury
Bills
0.00%
(b)
05/08/2025
4,434,921
Total
Short
Term
Investments
(Cost
$22,271,852)
22,278,050
Total
Investments
99.4%
(Cost
$22,271,852)
22,278,050
Other
Assets
in
Excess
of
Liabilities
0.6%
138,807
NET
ASSETS
100.0%
$22,416,857
(a)
Seven-day
yield
as
of
period
end.
(b)
All
or
a
portion
of
this
security
is
owned
by
DoubleLine
Commodity
ETF
Ltd.,
which
is
a
wholly-owned
subsidiary
of
the
DoubleLine
Commodity
Strategy
ETF.
Excess
Return
Swaps
Reference
Entity
Counterparty
Long/Short
Financing
Rate
Payment
Frequency
Termination
Date
Notional
Amount
Value
Upfront
Premiums
Paid/
(Received)
Unrealized
Appreciation
(Depreciation)
Barclays
Backwardation
Tilt
Multi-Strategy
Index
(1)(2)
Barclays
Bank
Plc
Long
0.25%
Termination
01/22/2025
$
1,800,000
$
11,203
$
—
$
11,203
Barclays
Backwardation
Tilt
Multi-Strategy
Index
(1)(2)
Barclays
Bank
Plc
Long
0.25%
Termination
01/22/2025
20,500,000
130,427
—
130,427
$141,630
$—
$141,630
(1)
All
or
a
portion
of
this
security
is
owned
by
DoubleLine
Commodity
ETF
Ltd.,
which
is
a
wholly-owned
subsidiary
of
the
DoubleLine
Commodity
Strategy
ETF.
(2)
Barclays
Backwardation
Tilt
Multi-Strategy
Index
seeks
to
capture
two
sources
of
potential
outperformance
in
commodity
futures
markets.
The
first
source
of
potential
outperformance
comes
through
selecting,
for
each
relevant
commodity,
the
eligible
futures
contract
that
is
expected
to
offer
the
best
outperformance
relative
to
the
front-month
contract
rolling
exposure
used
by
the
Bloomberg
Commodity
Index.
This
is
achieved
through
the
use
of
certain
futures
contract
selection
methodologies
referred
to
together
as
“Multi-Strategy.”
These
Multi-Strategy
methodologies
select
a
futures
contract
for
each
commodity
that
may
differ
from
the
futures
contract
selected
by
the
Bloomberg
Commodity
Index,
based
on
the
factors
described
above
including
carry,
seasonality
and
momentum.
The
second
source
of
potential
outperformance
comes
through
overweighting
(relative
to
the
weightings
in
the
Bloomberg
Commodity
Index)
the
exposure
of
the
Barclays
Index
to
the
futures
contracts
of
commodities
that
exhibit
the
highest
degree
of
backwardation
in
the
term
structures
of
their
futures
contracts,
while
simultaneously
underweighting
the
exposure
to
the
futures
contracts
of
commodities
that
exhibit
a
lower
degree
of
backwardation.
Historically,
the
commodities
with
a
higher
degree
of
backwardation
have
generally
had
better
historical
average
performance
than
the
commodities
with
a
lower
degree
of
backwardation.
Information
on
the
index
constituents
as
of
period
end,
is
available
on
the
Barclays
Capital,
Inc.
website
at
https://indices.cib.barclays/IM/12/en/indices/
details.app;ticker=BXCS1496.
Schedule
of
Investments
DoubleLine
Fortune
500
Equal
Weight
ETF
(Unaudited)
December
31,
2024
34
DoubleLine
ETF
Trust
SHARES
SECURITY
DESCRIPTION
VALUE
$
COMMON
STOCKS
99.8%
AEROSPACE
&
DEFENSE
2.0%
205
Boeing
Co.
(The)
(a)
36,286
112
General
Dynamics
Corp.
29,511
175
General
Electric
Co.
29,188
161
Huntington
Ingalls
Industries,
Inc.
30,424
129
L3Harris
Technologies,
Inc.
27,126
60
Lockheed
Martin
Corp.
29,156
65
Northrop
Grumman
Corp.
30,504
262
RTX
Corp.
30,319
372
Textron,
Inc.
28,454
270,968
AIR
FREIGHT
&
LOGISTICS
1.0%
302
CH
Robinson
Worldwide,
Inc.
31,202
262
Expeditors
International
of
Washington,
Inc.
29,022
105
FedEx
Corp.
29,540
523
GXO
Logistics,
Inc.
(a)
22,751
235
United
Parcel
Service,
Inc.
-
Class
B
29,633
142,148
AUTOMOBILE
COMPONENTS
1.1%
321
Autoliv,
Inc.
(Sweden)
30,107
929
BorgWarner,
Inc.
29,533
3,171
Dana,
Inc.
36,656
2,954
Goodyear
Tire
&
Rubber
Co.
(The)
(a)
26,586
326
Lear
Corp.
30,872
153,754
AUTOMOBILES
0.9%
2,863
Ford
Motor
Co.
28,344
571
General
Motors
Co.
30,417
92
Tesla,
Inc.
(a)
37,153
286
Thor
Industries,
Inc.
27,373
123,287
BANKS
3.2%
669
Bank
of
America
Corp.
29,403
450
Citigroup,
Inc.
31,675
662
Citizens
Financial
Group,
Inc.
28,969
663
Fifth
Third
Bancorp
28,032
14
First
Citizens
BancShares,
Inc.
-
Class
A
29,582
2,662
Flagstar
Financial,
Inc.
24,836
1,769
Huntington
Bancshares,
Inc.
28,782
127
JPMorgan
Chase
&
Co.
30,443
1,636
KeyCorp
28,041
145
M&T
Bank
Corp.
27,261
148
PNC
Financial
Services
Group,
Inc.
(The)
28,542
1,169
Regions
Financial
Corp.
27,495
668
Truist
Financial
Corp.
28,978
598
US
Bancorp
28,602
415
Wells
Fargo
&
Co.
29,150
429,791
BEVERAGES
1.3%
497
Coca-Cola
Co.
(The)
30,943
132
Constellation
Brands,
Inc.
-
Class
A
29,172
976
Keurig
Dr
Pepper,
Inc.
31,349
513
Molson
Coors
Beverage
Co.
-
Class
B
29,405
578
Monster
Beverage
Corp.
(a)
30,380
195
PepsiCo,
Inc.
29,652
180,901
BIOTECHNOLOGY
1.3%
174
AbbVie,
Inc.
30,920
113
Amgen,
Inc.
29,452
198
Biogen,
Inc.
(a)
30,278
SHARES
SECURITY
DESCRIPTION
VALUE
$
344
Gilead
Sciences,
Inc.
31,775
42
Regeneron
Pharmaceuticals,
Inc.
(a)
29,918
68
Vertex
Pharmaceuticals,
Inc.
(a)
27,384
179,727
BROADLINE
RETAIL
1.6%
153
Amazon.com,
Inc.
(a)
33,567
1,257
Coupang,
Inc.
(South
Korea)
(a)
27,629
503
eBay,
Inc.
31,161
2,125
Kohl's
Corp.
29,835
1,962
Macy's,
Inc.
33,217
1,403
Nordstrom,
Inc.
33,882
67,586
Qurate
Retail,
Inc.
(a)
22,303
211,594
BUILDING
PRODUCTS
1.0%
171
Builders
FirstSource,
Inc.
(a)
24,441
412
Carrier
Global
Corp.
28,123
395
Masco
Corp.
28,665
155
Owens
Corning
26,400
234
UFP
Industries,
Inc.
26,360
133,989
CAPITAL
MARKETS
3.5%
56
Ameriprise
Financial,
Inc.
29,816
388
Bank
of
New
York
Mellon
Corp.
(The)
29,810
31
Blackrock,
Inc.
31,778
385
Charles
Schwab
Corp.
(The)
28,494
1,400
Franklin
Resources,
Inc.
28,406
52
Goldman
Sachs
Group,
Inc.
(The)
29,776
167
Interactive
Brokers
Group,
Inc.
-
Class
A
29,504
198
Intercontinental
Exchange,
Inc.
29,504
400
Jefferies
Financial
Group,
Inc.
31,360
98
LPL
Financial
Holdings,
Inc.
31,999
242
Morgan
Stanley
30,424
286
Northern
Trust
Corp.
29,315
188
Raymond
James
Financial,
Inc.
29,202
61
S&P
Global,
Inc.
30,380
322
State
Street
Corp.
31,604
307
StoneX
Group,
Inc.
(a)
30,077
481,449
CHEMICALS
3.0%
95
Air
Products
and
Chemicals,
Inc.
27,554
296
Albemarle
Corp.
25,480
435
Celanese
Corp.
-
Class
A
30,106
512
Corteva,
Inc.
29,164
721
Dow,
Inc.
28,934
381
DuPont
de
Nemours,
Inc.
29,051
304
Eastman
Chemical
Co.
27,761
128
Ecolab,
Inc.
29,993
349
International
Flavors
&
Fragrances,
Inc.
29,508
1,204
Mosaic
Co.
(The)
29,594
256
PPG
Industries,
Inc.
30,579
230
RPM
International,
Inc.
28,304
80
Sherwin-Williams
Co.
(The)
27,194
248
Westlake
Corp.
28,433
401,655
COMMERCIAL
SERVICES
&
SUPPLIES
0.8%
557
ABM
Industries,
Inc.
28,507
141
Cintas
Corp.
25,761
146
Republic
Services,
Inc.
29,372
140
Waste
Management,
Inc.
28,251
111,891
|
December
31,
2024
35
SHARES
SECURITY
DESCRIPTION
VALUE
$
COMMUNICATIONS
EQUIPMENT
0.5%
537
Cisco
Systems,
Inc.
31,790
64
Motorola
Solutions,
Inc.
29,583
61,373
CONSTRUCTION
&
ENGINEERING
1.1%
272
AECOM
29,055
62
EMCOR
Group,
Inc.
28,142
567
Fluor
Corp.
(a)
27,964
221
MasTec,
Inc.
(a)
30,087
92
Quanta
Services,
Inc.
29,077
144,325
CONSTRUCTION
MATERIALS
0.2%
111
Vulcan
Materials
Co.
28,553
CONSUMER
FINANCE
1.1%
797
Ally
Financial,
Inc.
28,700
104
American
Express
Co.
30,866
166
Capital
One
Financial
Corp.
29,601
174
Discover
Financial
Services
30,142
471
Synchrony
Financial
30,615
149,924
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
3.7%
1,605
Albertsons
Cos.,
Inc.
-
Class
A
31,522
668
Andersons,
Inc.
(The)
27,067
331
BJ's
Wholesale
Club
Holdings,
Inc.
(a)
29,575
76
Casey's
General
Stores,
Inc.
30,113
33
Costco
Wholesale
Corp.
30,237
412
Dollar
General
Corp.
31,238
447
Dollar
Tree,
Inc.
(a)
33,498
522
Kroger
Co.
(The)
31,920
361
Performance
Food
Group
Co.
(a)
30,523
1,679
SpartanNash
Co.
30,759
413
Sysco
Corp.
31,578
241
Target
Corp.
32,578
1,283
United
Natural
Foods,
Inc.
(a)
35,040
457
US
Foods
Holding
Corp.
(a)
30,829
3,529
Walgreens
Boots
Alliance,
Inc.
32,926
345
Walmart,
Inc.
31,171
500,574
CONTAINERS
&
PACKAGING
1.7%
155
Avery
Dennison
Corp.
29,005
513
Ball
Corp.
28,282
441
Berry
Global
Group,
Inc.
28,519
346
Crown
Holdings,
Inc.
28,611
1,059
Graphic
Packaging
Holding
Co.
28,762
542
International
Paper
Co.
29,171
2,529
O-I
Glass,
Inc.
(a)
27,414
128
Packaging
Corp.
of
America
28,817
228,581
DISTRIBUTORS
0.6%
1,052
A-Mark
Precious
Metals,
Inc.
28,825
251
Genuine
Parts
Co.
29,307
811
LKQ
Corp.
29,804
87,936
DIVERSIFIED
TELECOMMUNICATION
SERVICES
0.6%
1,376
AT&T,
Inc.
31,331
4,342
Lumen
Technologies,
Inc.
(a)
23,056
719
Verizon
Communications,
Inc.
28,753
83,140
SHARES
SECURITY
DESCRIPTION
VALUE
$
ELECTRIC
UTILITIES
3.0%
319
American
Electric
Power
Co.,
Inc.
29,421
124
Constellation
Energy
Corp.
27,740
272
Duke
Energy
Corp.
29,305
363
Edison
International
28,982
408
Entergy
Corp.
30,936
494
Eversource
Energy
28,370
806
Exelon
Corp.
30,338
749
FirstEnergy
Corp.
29,795
405
NextEra
Energy,
Inc.
29,034
311
NRG
Energy,
Inc.
28,058
1,473
PG&E
Corp.
29,725
912
PPL
Corp.
29,604
358
Southern
Co.
(The)
29,471
439
Xcel
Energy,
Inc.
29,641
410,420
ELECTRICAL
EQUIPMENT
0.4%
240
Emerson
Electric
Co.
29,743
108
Rockwell
Automation,
Inc.
30,866
60,609
ELECTRONIC
EQUIPMENT,
INSTRUMENTS
&
COMPONENTS
2.1%
439
Amphenol
Corp.
-
Class
A
30,489
265
Arrow
Electronics,
Inc.
(a)
29,977
582
Avnet,
Inc.
30,450
181
CDW
Corp.
31,501
653
Corning,
Inc.
31,031
204
Insight
Enterprises,
Inc.
(a)
31,028
235
Jabil,
Inc.
33,816
401
Sanmina
Corp.
(a)
30,344
267
TD
SYNNEX
Corp.
31,314
279,950
ENERGY
EQUIPMENT
&
SERVICES
0.6%
725
Baker
Hughes
Co.
29,740
1,000
Halliburton
Co.
27,190
1,989
NOV,
Inc.
29,039
85,969
ENTERTAINMENT
1.1%
195
Electronic
Arts,
Inc.
28,529
231
Live
Nation
Entertainment,
Inc.
(a)
29,915
36
Netflix,
Inc.
(a)
32,088
271
Walt
Disney
Co.
(The)
30,176
3,041
Warner
Bros
Discovery,
Inc.
(a)
32,142
152,850
FINANCIAL
SERVICES
2.2%
66
Berkshire
Hathaway,
Inc.
-
Class
B
(a)
29,916
360
Block,
Inc.
-
Class
A
(a)
30,596
659
Equitable
Holdings,
Inc.
31,085
374
Fidelity
National
Information
Services,
Inc.
30,208
144
Fiserv,
Inc.
(a)
29,580
268
Global
Payments,
Inc.
30,032
60
Mastercard,
Inc.
-
Class
A
31,595
367
PayPal
Holdings,
Inc.
(a)
31,323
101
Visa,
Inc.
-
Class
A
31,921
384
Voya
Financial,
Inc.
26,431
302,687
FOOD
PRODUCTS
2.9%
584
Archer-Daniels-Midland
Co.
29,504
690
Campbell's
Co.
(The)
28,897
1,157
Conagra
Brands,
Inc.
32,107
481
General
Mills,
Inc.
30,673
181
Hershey
Co.
(The)
30,652
36
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Fortune
500
Equal
Weight
ETF
(Cont.)
(Unaudited)
December
31,
2024
SHARES
SECURITY
DESCRIPTION
VALUE
$
983
Hormel
Foods
Corp.
30,837
216
Ingredion,
Inc.
29,713
271
J
M
Smucker
Co.
(The)
29,843
392
Kellanova
31,740
997
Kraft
Heinz
Co.
(The)
30,618
491
Mondelez
International,
Inc.
-
Class
A
29,327
12
Seaboard
Corp.
29,156
494
Tyson
Foods,
Inc.
-
Class
A
28,375
391,442
GAS
UTILITIES
0.2%
1,049
UGI
Corp.
29,613
GROUND
TRANSPORTATION
2.0%
292
Avis
Budget
Group,
Inc.
(a)
23,538
872
CSX
Corp.
28,139
6,473
Hertz
Global
Holdings,
Inc.
(a)
23,691
169
JB
Hunt
Transport
Services,
Inc.
28,842
535
Knight-Swift
Transportation
Holdings,
Inc.
-
Class
A
28,376
115
Norfolk
Southern
Corp.
26,991
189
Ryder
System,
Inc.
29,647
443
Uber
Technologies,
Inc.
(a)
26,722
130
Union
Pacific
Corp.
29,645
209
XPO,
Inc.
(a)
27,410
273,001
HEALTH
CARE
EQUIPMENT
&
SUPPLIES
1.8%
268
Abbott
Laboratories
30,313
945
Baxter
International,
Inc.
27,556
144
Becton
Dickinson
&
Co.
32,670
351
Boston
Scientific
Corp.
(a)
31,351
383
GE
HealthCare
Technologies,
Inc.
29,943
59
Intuitive
Surgical,
Inc.
(a)
30,796
81
Stryker
Corp.
29,164
284
Zimmer
Biomet
Holdings,
Inc.
29,999
241,792
HEALTH
CARE
PROVIDERS
&
SERVICES
4.2%
1,651
BrightSpring
Health
Services,
Inc.
(a)
28,117
260
Cardinal
Health,
Inc.
30,750
126
Cencora,
Inc.
28,310
531
Centene
Corp.
(a)
32,168
94
Cigna
Group
(The)
25,957
9,215
Community
Health
Systems,
Inc.
(a)
27,553
532
CVS
Health
Corp.
23,881
191
DaVita,
Inc.
(a)
28,564
78
Elevance
Health,
Inc.
28,774
97
HCA
Healthcare,
Inc.
29,115
412
Henry
Schein,
Inc.
(a)
28,510
107
Humana,
Inc.
27,147
132
Labcorp
Holdings,
Inc.
30,270
51
McKesson
Corp.
29,065
107
Molina
Healthcare,
Inc.
(a)
31,142
2,366
Owens
&
Minor,
Inc.
(a)
30,924
196
Quest
Diagnostics,
Inc.
29,569
223
Tenet
Healthcare
Corp.
(a)
28,149
52
UnitedHealth
Group,
Inc.
26,305
155
Universal
Health
Services,
Inc.
-
Class
B
27,810
572,080
HOTELS,
RESTAURANTS
&
LEISURE
3.4%
234
Airbnb,
Inc.
-
Class
A
(a)
30,750
783
Aramark
29,214
6
Booking
Holdings,
Inc.
29,811
828
Caesars
Entertainment,
Inc.
(a)
27,672
518
Chipotle
Mexican
Grill,
Inc.
(a)
31,235
SHARES
SECURITY
DESCRIPTION
VALUE
$
181
Darden
Restaurants,
Inc.
33,791
177
DoorDash,
Inc.
-
Class
A
(a)
29,692
173
Expedia
Group,
Inc.
(a)
32,235
126
Hilton
Worldwide
Holdings,
Inc.
31,142
597
Las
Vegas
Sands
Corp.
30,662
110
Marriott
International,
Inc.
-
Class
A
30,683
108
McDonald's
Corp.
31,308
831
MGM
Resorts
International
(a)
28,794
311
Starbucks
Corp.
28,379
685
Yum
China
Holdings,
Inc.
(China)
32,996
458,364
HOUSEHOLD
DURABLES
1.8%
189
DR
Horton,
Inc.
26,426
183
Lennar
Corp.
-
Class
A
24,956
230
Mohawk
Industries,
Inc.
(a)
27,400
3,307
Newell
Brands,
Inc.
32,938
3
NVR,
Inc.
(a)
24,537
236
PulteGroup,
Inc.
25,700
431
Taylor
Morrison
Home
Corp.
-
Class
A
(a)
26,382
193
Toll
Brothers,
Inc.
24,308
286
Whirlpool
Corp.
32,741
245,388
HOUSEHOLD
PRODUCTS
0.9%
191
Clorox
Co.
(The)
31,020
330
Colgate-Palmolive
Co.
30,000
229
Kimberly-Clark
Corp.
30,008
178
Procter
&
Gamble
Co.
(The)
29,842
120,870
INDEPENDENT
POWER
AND
RENEWABLE
ELECTRICITY
PRODUCERS
0.4%
2,436
AES
Corp.
(The)
31,351
199
Vistra
Corp.
27,436
58,787
INDUSTRIAL
CONGLOMERATES
0.5%
239
3M
Co.
30,853
137
Honeywell
International,
Inc.
30,946
61,799
INDUSTRIAL
REITS
0.2%
272
Prologis,
Inc.
28,750
INSURANCE
4.9%
280
Aflac,
Inc.
28,963
154
Allstate
Corp.
(The)
29,690
217
American
Financial
Group,
Inc.
29,714
414
American
International
Group,
Inc.
30,139
102
Arthur
J
Gallagher
&
Co.
28,953
140
Assurant,
Inc.
29,851
199
Cincinnati
Financial
Corp.
28,596
503
Fidelity
National
Financial,
Inc.
28,238
4,085
Genworth
Financial,
Inc.
-
Class
A
(a)
28,554
258
Hartford
Financial
Services
Group,
Inc.
(The)
28,225
896
Lincoln
National
Corp.
28,412
367
Loews
Corp.
31,082
18
Markel
Group,
Inc.
(a)
31,072
137
Marsh
&
McLennan
Cos.,
Inc.
29,100
361
MetLife,
Inc.
29,559
818
Old
Republic
International
Corp.
29,603
366
Principal
Financial
Group,
Inc.
28,332
118
Progressive
Corp.
(The)
28,274
246
Prudential
Financial,
Inc.
29,158
139
Reinsurance
Group
of
America,
Inc.
29,695
119
Travelers
Cos.,
Inc.
(The)
28,666
414
Unum
Group
30,234
|
December
31,
2024
37
SHARES
SECURITY
DESCRIPTION
VALUE
$
494
W
R
Berkley
Corp.
28,909
673,019
INTERACTIVE
MEDIA
&
SERVICES
0.5%
189
Alphabet,
Inc.
-
Class
A
35,778
55
Meta
Platforms,
Inc.
-
Class
A
32,203
67,981
IT
SERVICES
0.9%
396
Cognizant
Technology
Solutions
Corp.
-
Class
A
30,452
1,416
DXC
Technology
Co.
(a)
28,292
140
International
Business
Machines
Corp.
30,776
918
Kyndryl
Holdings,
Inc.
(a)
31,763
121,283
LEISURE
PRODUCTS
0.2%
462
Polaris,
Inc.
26,620
LIFE
SCIENCES
TOOLS
&
SERVICES
0.7%
133
Danaher
Corp.
30,530
159
IQVIA
Holdings,
Inc.
(a)
31,245
60
Thermo
Fisher
Scientific,
Inc.
31,214
92,989
MACHINERY
2.8%
315
AGCO
Corp.
29,446
78
Caterpillar,
Inc.
28,295
85
Cummins,
Inc.
29,631
68
Deere
&
Co.
28,812
155
Dover
Corp.
29,078
115
Illinois
Tool
Works,
Inc.
29,159
280
Oshkosh
Corp.
26,620
309
Otis
Worldwide
Corp.
28,616
272
PACCAR,
Inc.
28,293
45
Parker-Hannifin
Corp.
28,621
356
Stanley
Black
&
Decker,
Inc.
28,583
159
Westinghouse
Air
Brake
Technologies
Corp.
30,146
251
Xylem,
Inc.
29,121
374,421
MEDIA
2.1%
9,660
Altice
USA,
Inc.
-
Class
A
(a)
23,281
80
Charter
Communications,
Inc.
-
Class
A
(a)
27,422
738
Comcast
Corp.
-
Class
A
27,697
1,260
EchoStar
Corp.
-
Class
A
(a)
28,854
676
Fox
Corp.
-
Class
A
32,839
1,034
Interpublic
Group
of
Cos.,
Inc.
(The)
28,973
1,086
News
Corp.
-
Class
A
29,908
303
Omnicom
Group,
Inc.
26,070
2,937
Paramount
Global
-
Class
B
30,721
1,182
Sirius
XM
Holdings,
Inc.
26,950
282,715
METALS
&
MINING
1.7%
686
Alcoa
Corp.
25,917
2,556
Cleveland-Cliffs,
Inc.
(a)
24,026
517
Commercial
Metals
Co.
25,643
720
Freeport-McMoRan,
Inc.
27,418
760
Newmont
Corp.
28,288
206
Nucor
Corp.
24,042
99
Reliance,
Inc.
26,657
219
Steel
Dynamics,
Inc.
24,981
776
United
States
Steel
Corp.
26,376
233,348
MULTI-UTILITIES
2.0%
338
Ameren
Corp.
30,129
SHARES
SECURITY
DESCRIPTION
VALUE
$
975
CenterPoint
Energy,
Inc.
30,936
457
CMS
Energy
Corp.
30,459
317
Consolidated
Edison,
Inc.
28,286
542
Dominion
Energy,
Inc.
29,192
253
DTE
Energy
Co.
30,550
338
Public
Service
Enterprise
Group,
Inc.
28,558
339
Sempra
29,737
315
WEC
Energy
Group,
Inc.
29,623
267,470
OIL,
GAS
&
CONSUMABLE
FUELS
5.2%
1,407
APA
Corp.
32,488
142
Cheniere
Energy,
Inc.
30,512
197
Chevron
Corp.
28,533
294
ConocoPhillips
29,156
1,673
Delek
US
Holdings,
Inc.
30,951
840
Devon
Energy
Corp.
27,493
179
Diamondback
Energy,
Inc.
29,326
239
EOG
Resources,
Inc.
29,297
322
Expand
Energy
Corp.
32,055
270
Exxon
Mobil
Corp.
29,044
217
Hess
Corp.
28,863
779
HF
Sinclair
Corp.
27,304
1,127
Kinder
Morgan,
Inc.
30,880
204
Marathon
Petroleum
Corp.
28,458
630
Occidental
Petroleum
Corp.
31,128
281
ONEOK,
Inc.
28,212
702
Ovintiv,
Inc.
28,431
1,828
Par
Pacific
Holdings,
Inc.
(a)
29,961
1,012
PBF
Energy,
Inc.
-
Class
A
26,869
238
Phillips
66
27,115
156
Targa
Resources
Corp.
27,846
229
Valero
Energy
Corp.
28,073
545
Williams
Cos.,
Inc.
(The)
29,495
1,101
World
Kinect
Corp.
30,289
701,779
PASSENGER
AIRLINES
1.6%
605
Alaska
Air
Group,
Inc.
(a)
39,174
2,195
American
Airlines
Group,
Inc.
(a)
38,259
499
Delta
Air
Lines,
Inc.
30,190
5,316
JetBlue
Airways
Corp.
(a)
41,783
983
Southwest
Airlines
Co.
33,048
329
United
Airlines
Holdings,
Inc.
(a)
31,946
214,400
PERSONAL
CARE
PRODUCTS
0.2%
442
Estee
Lauder
Cos.,
Inc.
(The)
-
Class
A
33,141
PHARMACEUTICALS
1.6%
538
Bristol-Myers
Squibb
Co.
30,429
40
Eli
Lilly
&
Co.
30,880
206
Johnson
&
Johnson
29,792
313
Merck
&
Co.,
Inc.
31,137
1,216
Pfizer,
Inc.
32,261
2,423
Viatris,
Inc.
30,166
182
Zoetis,
Inc.
-
Class
A
29,653
214,318
PROFESSIONAL
SERVICES
1.5%
104
Automatic
Data
Processing,
Inc.
30,444
215
Booz
Allen
Hamilton
Holding
Corp.
27,671
709
Concentrix
Corp.
30,678
226
Jacobs
Solutions,
Inc.
30,198
193
Leidos
Holdings,
Inc.
27,804
495
ManpowerGroup,
Inc.
28,571
38
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Fortune
500
Equal
Weight
ETF
(Cont.)
(Unaudited)
December
31,
2024
SHARES
SECURITY
DESCRIPTION
VALUE
$
256
Science
Applications
International
Corp.
28,616
203,982
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
0.4%
227
CBRE
Group,
Inc.
-
Class
A
(a)
29,803
113
Jones
Lang
LaSalle,
Inc.
(a)
28,605
58,408
SEMICONDUCTORS
&
SEMICONDUCTOR
EQUIPMENT
2.9%
232
Advanced
Micro
Devices,
Inc.
(a)
28,023
146
Analog
Devices,
Inc.
31,019
182
Applied
Materials,
Inc.
29,599
197
Broadcom,
Inc.
45,673
1,325
Intel
Corp.
26,566
49
KLA
Corp.
30,876
431
Lam
Research
Corp.
31,131
467
Microchip
Technology,
Inc.
26,782
325
Micron
Technology,
Inc.
27,352
230
NVIDIA
Corp.
30,887
448
ON
Semiconductor
Corp.
(a)
28,246
201
QUALCOMM,
Inc.
30,878
159
Texas
Instruments,
Inc.
29,814
396,846
SOFTWARE
1.6%
62
Adobe,
Inc.
(a)
27,570
50
Intuit,
Inc.
31,425
75
Microsoft
Corp.
31,613
172
Oracle
Corp.
28,662
97
Salesforce,
Inc.
32,430
30
ServiceNow,
Inc.
(a)
31,804
127
Workday,
Inc.
-
Class
A
(a)
32,769
216,273
SPECIALIZED
REITS
0.6%
152
American
Tower
Corp.
27,878
32
Equinix,
Inc.
30,173
988
Weyerhaeuser
Co.
27,812
85,863
SPECIALTY
RETAIL
6.4%
771
Advance
Auto
Parts,
Inc.
36,460
122
Asbury
Automotive
Group,
Inc.
(a)
29,650
178
AutoNation,
Inc.
(a)
30,232
10
AutoZone,
Inc.
(a)
32,020
872
Bath
&
Body
Works,
Inc.
33,807
352
Best
Buy
Co.,
Inc.
30,202
113
Burlington
Stores,
Inc.
(a)
32,212
379
CarMax,
Inc.
(a)
30,987
122
Carvana
Co.
(a)
24,810
952
Chewy,
Inc.
-
Class
A
(a)
31,882
153
Dick's
Sporting
Goods,
Inc.
35,012
1,267
Foot
Locker,
Inc.
(a)
27,570
1,314
Gap,
Inc.
(The)
31,050
75
Group
1
Automotive,
Inc.
31,611
74
Home
Depot,
Inc.
(The)
28,785
82
Lithia
Motors,
Inc.
-
Class
A
29,309
117
Lowe's
Cos.,
Inc.
28,876
SHARES
SECURITY
DESCRIPTION
VALUE
$
58
Murphy
USA,
Inc.
29,102
1,239
ODP
Corp.
(The)
(a)
28,175
26
O'Reilly
Automotive,
Inc.
(a)
30,831
190
Penske
Automotive
Group,
Inc.
28,964
206
Ross
Stores,
Inc.
31,162
460
Sonic
Automotive,
Inc.
-
Class
A
29,141
254
TJX
Cos.,
Inc.
(The)
30,686
560
Tractor
Supply
Co.
29,714
82
Ulta
Beauty,
Inc.
(a)
35,663
677
Wayfair,
Inc.
-
Class
A
(a)
30,005
183
Williams-Sonoma,
Inc.
33,888
861,806
TECHNOLOGY
HARDWARE,
STORAGE
&
PERIPHERALS
1.3%
134
Apple,
Inc.
33,556
249
Dell
Technologies,
Inc.
-
Class
C
28,695
1,502
Hewlett
Packard
Enterprise
Co.
32,068
895
HP,
Inc.
29,204
976
Super
Micro
Computer,
Inc.
(a)
29,748
437
Western
Digital
Corp.
(a)
26,058
179,329
TEXTILES,
APPAREL
&
LUXURY
GOODS
1.2%
99
Lululemon
Athletica,
Inc.
(a)
37,858
405
NIKE,
Inc.
-
Class
B
30,646
294
PVH
Corp.
31,091
499
Skechers
USA,
Inc.
-
Class
A
(a)
33,553
1,575
VF
Corp.
33,800
166,948
TOBACCO
0.4%
552
Altria
Group,
Inc.
28,864
239
Philip
Morris
International,
Inc.
28,764
57,628
TRADING
COMPANIES
&
DISTRIBUTORS
1.2%
282
Beacon
Roofing
Supply,
Inc.
(a)
28,646
381
Fastenal
Co.
27,398
37
United
Rentals,
Inc.
26,064
57
Watsco,
Inc.
27,012
151
WESCO
International,
Inc.
27,325
26
WW
Grainger,
Inc.
27,405
163,850
Total
Common
Stocks
(Cost
$13,561,141)
13,574,348
SHORT
TERM
INVESTMENTS
0.1%
7,734
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(b)
7,734
7,734
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(b)
7,734
Total
Short
Term
Investments
(Cost
$15,468)
15,468
Total
Investments
99.9%
(Cost
$13,576,609)
13,589,816
Other
Assets
in
Excess
of
Liabilities
0.1%
9,723
NET
ASSETS
100.0%
$13,599,539
(a)
Non-income
producing
security.
(b)
Seven-day
yield
as
of
period
end.
Schedule
of
Investments
DoubleLine
Multi-Sector
Income
ETF
(Unaudited)
December
31,
2024
|
December
31,
2024
39
P
RINCIPAL
A
MOUNT
$/S
HARES
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
ASSET
BACKED
OBLIGATIONS
4.2%
Dividend
Solar
Loans
LLC
,
302,728
Series
2017-1-C
7.00%
(a)
03/22/2038
268,740
Lunar
Structured
Aircraft
Portfolio
Notes
,
302,018
Series
2021-1-B
3.43%
(a)
10/15/2046
275,471
Pagaya
AI
Debt
Grantor
Trust
,
249,989
Series
2024-8-D
6.53%
(a)
01/15/2032
250,728
Upstart
Pass-Through
Trust
,
25,518
Series
2021-ST10-A
2.25%
(a)
01/20/2030
25,446
Willis
Engine
Structured
Trust
V
,
270,100
Series
2020-A-C
6.66%
(a)
03/15/2045
268,297
Total
Asset
Backed
Obligations
(Cost
$1,087,528)
1,088,682
BANK
LOANS
30.7%
Acrisure
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.50%,
0.50%
Floor)
7.36%
11/06/2030
155,448
ADMI
Corp.
,
159,588
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.50%
Floor)
8.22%
12/23/2027
157,194
AI
Aqua
Merger
Sub,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.00%,
0.50%
Floor)
7.55%
07/31/2028
155,324
Alliant
Holdings
Intermediate
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%)
7.11%
09/19/2031
155,591
Allied
Universal
Holdco
LLC
,
154,601
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.50%
Floor)
8.21%
05/12/2028
155,298
AllSpring
Buyer
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.44%
11/01/2030
155,446
Applied
Systems,
Inc.
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.33%
02/24/2031
156,290
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Ascend
Learning
LLC
,
154,602
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.96%
12/11/2028
155,629
AssuredPartners,
Inc.
,
154,611
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
02/14/2031
155,118
Asurion
LLC
,
79,800
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.61%
09/19/2030
79,700
Aveanna
Healthcare
LLC
,
154,601
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.36%
07/17/2028
153,567
Bausch
+
Lomb
Corp.
,
154,604
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.69%
05/10/2027
155,384
BCPE
Empire
Holdings,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
12/11/2028
156,050
Boxer
Parent
Co.,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.34%
07/30/2031
156,471
Broadstreet
Partners,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.57%
06/16/2031
155,711
Camelot
U.S.
Acquisition
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%)
7.11%
01/31/2031
155,073
40
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Multi-Sector
Income
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Cengage
Learning,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%;
CME
Term
SOFR
3
Month
+
3.50%,
1.00%
Floor)
7.96%
11/24/2031
155,997
Central
Parent
LLC
,
159,600
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.90%
07/06/2029
157,695
Charter
Next
Generation,
Inc.
,
154,597
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.75%
Floor)
7.53%
11/29/2030
155,625
CHG
PPC
Parent
LLC
,
154,597
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.47%
12/08/2028
155,661
Compass
Power
Generation
LLC
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
1.00%
Floor)
8.11%
04/16/2029
156,158
Cornerstone
Generation
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.25%)
7.65%
10/28/2031
156,550
Cotiviti,
Inc.
,
154,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%)
7.30%
05/01/2031
155,676
Crosby
U.S.
Acquisition
Corp.
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
8.07%
08/16/2029
156,390
Curium
BidCo
Sarl
,
154,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%)
7.83%
07/31/2029
156,449
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Eagle
Parent
Corp.
,
159,590
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.25%,
0.50%
Floor)
8.84%
04/02/2029
157,047
EG
Finco
Ltd.
,
45,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
4.25%)
8.56%
02/07/2028
45,466
Fertitta
Entertainment
LLC
,
154,603
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.50%,
0.50%
Floor)
7.86%
01/29/2029
155,368
Focus
Financial
Partners
LLC
,
140,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
09/11/2031
141,461
Frontdoor,
Inc.
,
10,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.25%)
6.61%
12/19/2031
10,050
Gainwell
Acquisition
Corp.
,
159,584
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%,
0.75%
Floor)
8.69%
10/01/2027
154,974
Hexion
Holdings
Corp.
,
164,588
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.00%,
0.50%
Floor)
8.45%
03/15/2029
164,884
Husky
Injection
Molding
Systems
Ltd.
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
4.50%)
8.78%
02/15/2029
156,110
INEOS
U.S.
Finance
LLC
,
35,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.25%)
7.56%
02/07/2031
35,328
INEOS
U.S.
Petrochem
LLC
,
154,611
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.25%)
8.71%
04/02/2029
155,963
|
December
31,
2024
41
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Kenan
Advantage
Group,
Inc.
(The)
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
01/25/2029
155,772
LBM
Acquisition
LLC
,
119,699
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.30%
06/06/2031
118,876
LifePoint
Health,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%)
8.41%
05/19/2031
155,743
Lightning
Power
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.74%
08/18/2031
156,959
MH
Sub
I
LLC
,
30,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
4.25%)
8.42%
12/11/2031
29,784
Mitchell
International,
Inc.
,
154,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%,
0.50%
Floor)
7.61%
06/17/2031
154,888
NEP
Group,
Inc.
,
80,100
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
8.13%
08/19/2026
73,408
Packaging
Coordinators
Midco,
Inc.
,
154,613
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%,
0.75%
Floor)
7.84%
11/30/2027
155,482
PetSmart
LLC
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.75%,
0.75%
Floor)
8.21%
02/11/2028
154,677
Playa
Resorts
Holding
BV
,
159,593
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
2.75%,
0.50%
Floor)
7.11%
01/05/2029
159,937
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
PointClickCare
Technologies,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.25%)
7.58%
11/03/2031
156,163
Polaris
Newco
LLC
,
154,601
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.00%,
0.50%
Floor)
8.85%
06/02/2028
155,074
Radiology
Partners,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.50%)
8.28%
01/31/2029
153,566
RealPage,
Inc.
,
20,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.75%,
0.50%
Floor)
8.08%
04/24/2028
20,119
Sandisk
Corp.
,
15,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
12
Month
+
3.00%)
7.17%
02/09/2032
14,770
Signia
Aerospace
LLC
,
140,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.40%
11/21/2031
140,263
StubHub
Holdco
Sub
LLC
,
154,606
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
4.75%)
9.11%
03/15/2030
155,185
Team
Health
Holdings,
Inc.
,
39,885
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
5.25%,
1.00%
Floor)
9.84%
03/02/2027
38,673
Tiger
Acquisition
LLC
,
153,405
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.00%,
0.50%
Floor)
7.34%
06/01/2028
153,789
TransDigm,
Inc.
,
160,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
2.50%)
6.83%
02/28/2031
160,454
42
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Multi-Sector
Income
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Trident
TPI
Holdings,
Inc.
,
155,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
6
Month
+
3.75%,
0.50%
Floor)
8.19%
09/15/2028
156,585
UKG,
Inc.
,
154,612
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
3.00%)
7.62%
02/10/2031
155,896
Verde
Purchaser
LLC
,
19,950
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
3
Month
+
4.50%)
9.13%
11/30/2030
20,037
Wand
NewCo
3,
Inc.
,
151,760
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.61%
01/30/2031
152,571
White
Cap
Supply
Holdings
LLC
,
10,000
Senior
Secured
First
Lien
Term
Loan
(CME
Term
SOFR
1
Month
+
3.25%)
7.82%
10/19/2029
10,032
Total
Bank
Loans
(Cost
$7,970,325)
7,954,849
COLLATERALIZED
LOAN
OBLIGATIONS
7.4%
Bain
Capital
Credit
CLO
,
1,000,000
Series
2018-2A-DR
(CME
Term
SOFR
3
Month
+
2.95%,
2.95%
Floor)
7.57%
(a)
07/19/2031
1,004,222
BRSP
Ltd.
,
150,000
Series
2021-FL1-D
(CME
Term
SOFR
1
Month
+
2.81%,
2.70%
Floor)
7.18%
(a)
08/19/2038
147,924
BSPDF
Issuer
Ltd.
,
100,000
Series
2021-FL1-D
(CME
Term
SOFR
1
Month
+
2.86%,
2.75%
Floor)
7.26%
(a)
10/15/2036
97,316
KREF
Ltd.
,
150,000
Series
2021-FL2-AS
(CME
Term
SOFR
1
Month
+
1.41%,
1.30%
Floor)
5.80%
(a)
02/15/2039
148,062
M360
Ltd.
,
83,932
Series
2021-CRE3-A
(CME
Term
SOFR
1
Month
+
1.61%,
1.50%
Floor)
5.97%
(a)
11/22/2038
83,879
MF1
Multifamily
Housing
Mortgage
Loan
Trust
,
150,000
Series
2021-FL5-E
(CME
Term
SOFR
1
Month
+
3.11%,
3.11%
Floor)
7.50%
(a)
07/15/2036
149,902
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
150,000
Series
2021-FL7-E
(CME
Term
SOFR
1
Month
+
2.91%,
2.80%
Floor)
7.29%
(a)
10/16/2036
143,569
Ready
Capital
Mortgage
Financing
LLC
,
150,000
Series
2023-FL11-B
(CME
Term
SOFR
1
Month
+
3.53%,
3.53%
Floor)
7.87%
(a)
10/25/2039
151,555
Total
Collateralized
Loan
Obligations
(Cost
$1,917,447)
1,926,429
FOREIGN
CORPORATE
BONDS
4.1%
CANADA
2.6%
175,000
Bombardier,
Inc.
7.00%
(a)
06/01/2032
178,239
215,000
Garda
World
Security
Corp.
8.25%
(a)
08/01/2032
218,755
174,000
Husky
Injection
Molding
Systems
Ltd.
9.00%
(a)
02/15/2029
181,874
90,000
South
Bow
Canadian
Infrastructure
Holdings
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.67%)
7.50%
(a)
03/01/2055
93,147
672,015
CAYMAN
ISLANDS
1.2%
309,000
Global
Aircraft
Leasing
Co.
Ltd.
8.75%
(a)
09/01/2027
315,533
UNITED
KINGDOM
0.3%
80,000
Macquarie
Airfinance
Holdings
Ltd.
8.13%
(a)
03/30/2029
84,873
Total
Foreign
Corporate
Bonds
(Cost
$1,080,733)
1,072,421
NON-AGENCY
COMMERCIAL
MORTGAGE
BACKED
OBLIGATIONS
11.1%
Arbor
Multifamily
Mortgage
Securities
Trust
,
3,789,596
Series
2020-MF1-XA
0.94%
(a)
(b)(c)
05/15/2053
147,599
130,000
Series
2021-MF3-A2
2.21%
(a)
10/15/2054
122,630
BANK
,
4,302,992
Series
2021-BN32-XA
0.77%
(b)(c)
04/15/2054
148,238
BBCMS
Mortgage
Trust
,
171,000
Series
2024-5C29-D
4.00%
(a)
09/15/2057
149,290
170,000
Series
2024-5C31-D
4.25%
(a)
12/15/2057
149,140
Benchmark
Mortgage
Trust
,
3,968,000
Series
2024-V12-XA
0.85%
(b)(c)
12/15/2057
147,602
BMO
Mortgage
Trust
,
150,000
Series
2024-5C3-D
4.00%
(a)
02/15/2057
132,823
150,000
Series
2024-5C5-D
4.50%
(a)
02/15/2057
131,833
BMP
Trust
,
100,000
Series
2024-MF23-D
(CME
Term
SOFR
1
Month
+
2.39%,
2.39%
Floor)
6.79%
(a)
06/15/2041
100,348
|
December
31,
2024
43
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
BX
Commercial
Mortgage
Trust
,
100,000
Series
2021-VOLT-E
(CME
Term
SOFR
1
Month
+
2.11%,
2.00%
Floor)
6.51%
(a)
09/15/2036
99,840
100,000
Series
2024-GPA2-D
(CME
Term
SOFR
1
Month
+
2.59%,
2.59%
Floor)
6.99%
(a)
11/15/2041
100,813
80,580
Series
2024-MDHS-D
(CME
Term
SOFR
1
Month
+
2.69%,
2.69%
Floor)
7.09%
(a)
05/15/2041
80,754
88,545
Series
2024-MF-D
(CME
Term
SOFR
1
Month
+
2.69%,
2.69%
Floor)
7.09%
(a)
02/15/2039
89,567
BX
Trust
,
100,000
Series
2018-GW-D
(CME
Term
SOFR
1
Month
+
2.07%,
1.77%
Floor)
6.47%
(a)
05/15/2035
100,036
100,000
Series
2021-ARIA-D
(CME
Term
SOFR
1
Month
+
2.01%,
1.90%
Floor)
6.41%
(a)
10/15/2036
99,809
105,000
Series
2021-MFM1-D
(CME
Term
SOFR
1
Month
+
1.61%,
1.50%
Floor)
6.01%
(a)
01/15/2034
104,765
100,000
Series
2021-VIEW-B
(CME
Term
SOFR
1
Month
+
1.91%,
1.80%
Floor)
6.31%
(a)
06/15/2036
99,708
86,922
Series
2024-CNYN-D
(CME
Term
SOFR
1
Month
+
2.69%,
2.69%
Floor)
7.09%
(a)
04/15/2041
87,293
CSMC
Trust
,
100,000
Series
2017-PFHP-A
(CME
Term
SOFR
1
Month
+
1.00%,
0.95%
Floor)
5.39%
(a)
12/15/2030
98,481
Great
Wolf
Trust
,
100,000
Series
2024-WOLF-D
(CME
Term
SOFR
1
Month
+
2.89%,
2.89%
Floor)
7.29%
(a)
03/15/2039
100,989
JPMDB
Commercial
Mortgage
Securities
Trust
,
140,000
Series
2017-C7-B
3.99%
10/15/2050
127,288
MHP
,
100,000
Series
2021-STOR-D
(CME
Term
SOFR
1
Month
+
1.46%,
1.35%
Floor)
5.86%
(a)
07/15/2038
99,626
MTN
Commercial
Mortgage
Trust
,
100,000
Series
2022-LPFL-D
(CME
Term
SOFR
1
Month
+
2.94%,
2.94%
Floor)
7.34%
(a)
03/15/2039
99,657
UBS
Commercial
Mortgage
Trust
,
150,000
Series
2018-C13-B
4.79%
(b)
10/15/2051
139,712
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
Wells
Fargo
Commercial
Mortgage
Trust
,
119,000
Series
2019-JWDR-E
3.86%
(a)(b)
09/15/2031
114,891
Total
Non-Agency
Commercial
Mortgage
Backed
Obligations
(Cost
$2,877,186)
2,872,732
NON-AGENCY
RESIDENTIAL
COLLATERALIZED
MORTGAGE
OBLIGATIONS
5.5%
DataBank
Issuer
,
185,000
Series
2024-1A-A2
5.30%
(a)
01/26/2054
181,422
OBX
Trust
,
625,000
Series
2024-NQM18-M1
6.17%
(a)(b)
10/25/2064
620,117
Verus
Securitization
Trust
,
625,000
Series
2024-9-B1
6.85%
(a)(b)
11/25/2069
630,281
Total
Non-Agency
Residential
Collateralized
Mortgage
Obligations
(Cost
$1,431,511)
1,431,820
US
CORPORATE
BONDS
34.9%
174,000
Allied
Universal
Holdco
LLC
7.88%
(a)
02/15/2031
178,059
169,000
American
Airlines,
Inc.
8.50%
(a)
05/15/2029
177,544
80,000
Apollo
Debt
Solutions
BDC
6.70%
(a)
07/29/2031
82,196
80,000
Apollo
Global
Management,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.17%)
6.00%
12/15/2054
78,954
191,000
AthenaHealth
Group,
Inc.
6.50%
(a)
02/15/2030
181,705
90,000
Athene
Holding
Ltd.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.61%)
6.63%
10/15/2054
89,722
174,000
Bausch
+
Lomb
Corp.
8.38%
(a)
10/01/2028
180,308
80,000
Blackstone
Private
Credit
Fund
6.00%
(a)
11/22/2034
78,115
74,000
Brand
Industrial
Services,
Inc.
10.38%
(a)
08/01/2030
75,410
175,000
Builders
FirstSource,
Inc.
6.38%
(a)
03/01/2034
172,933
145,000
Caesars
Entertainment,
Inc.
6.00%
(a)
10/15/2032
139,941
68,000
CCO
Holdings
LLC
5.13%
(a)
05/01/2027
66,875
50,000
CCO
Holdings
LLC
4.75%
(a)
03/01/2030
45,716
51,000
CCO
Holdings
LLC
4.75%
(a)
02/01/2032
44,819
174,000
Central
Parent
LLC
8.00%
(a)
06/15/2029
177,375
240,000
Consolidated
Communications,
Inc.
5.00%
(a)
10/01/2028
223,617
45,000
Cornerstone
Building
Brands,
Inc.
9.50%
(a)
08/15/2029
43,853
80,000
Dealer
Tire
LLC
8.00%
(a)
02/01/2028
78,671
185,000
Directv
Financing
LLC
5.88%
(a)
08/15/2027
180,442
44
DoubleLine
ETF
Trust
Schedule
of
Investments
DoubleLine
Multi-Sector
Income
ETF
(Cont.)
(Unaudited)
December
31,
2024
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
80,000
Dominion
Energy,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.21%)
6.63%
05/15/2055
81,533
56,000
Dornoch
Debt
Merger
Sub,
Inc.
6.63%
(a)
10/15/2029
45,421
84,000
EchoStar
Corp.
10.75%
11/30/2029
90,414
180,000
EMRLD
Borrower
LP
6.63%
(a)
12/15/2030
180,465
90,000
Energy
Transfer
LP
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.83%)
7.13%
10/01/2054
91,678
90,000
Entergy
Corp.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.67%)
7.13%
12/01/2054
91,956
80,000
F&G
Annuities
&
Life,
Inc.
6.25%
10/04/2034
77,668
191,000
Fertitta
Entertainment
LLC
6.75%
(a)
01/15/2030
176,367
185,000
Fortress
Transportation
and
Infrastructure
Investors
LLC
5.88%
(a)
04/15/2033
178,731
180,000
Full
House
Resorts,
Inc.
8.25%
(a)
02/15/2028
179,505
90,000
Genesee
&
Wyoming,
Inc.
6.25%
(a)
04/15/2032
90,655
50,000
Goat
Holdco
LLC
6.75%
(a)
02/01/2032
49,567
180,000
Gray
Television,
Inc.
10.50%
(a)
07/15/2029
180,185
185,000
Griffon
Corp.
5.75%
03/01/2028
181,534
179,000
Gulfport
Energy
Operating
Corp.
6.75%
(a)
09/01/2029
180,472
80,000
Hess
Midstream
Operations
LP
5.50%
(a)
10/15/2030
77,727
90,000
Hilcorp
Energy
I
LP
7.25%
(a)
02/15/2035
84,691
152,000
HUB
International
Ltd.
7.25%
(a)
06/15/2030
155,925
18,000
Level
3
Financing,
Inc.
10.50%
(a)
04/15/2029
20,149
254,000
LifePoint
Health,
Inc.
10.00%
(a)
06/01/2032
258,570
90,000
Medline
Borrower
LP
5.25%
(a)
10/01/2029
86,941
185,000
Nationstar
Mortgage
Holdings,
Inc.
5.75%
(a)
11/15/2031
177,021
80,000
NextEra
Energy
Capital
Holdings,
Inc.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.46%)
6.75%
06/15/2054
82,159
174,000
OneMain
Finance
Corp.
7.50%
05/15/2031
178,774
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
179,000
Panther
Escrow
Issuer
LLC
7.13%
(a)
06/01/2031
180,984
90,000
Performance
Food
Group,
Inc.
6.13%
(a)
09/15/2032
90,108
174,000
Permian
Resources
Operating
LLC
7.00%
(a)
01/15/2032
176,799
80,000
Permian
Resources
Operating
LLC
6.25%
(a)
02/01/2033
79,033
250,000
PetSmart,
Inc.
7.75%
(a)
02/15/2029
241,969
80,000
Qorvo,
Inc.
3.38%
(a)
04/01/2031
68,487
183,149
Radiology
Partners,
Inc.
7.78%
(a)
01/31/2029
180,786
120,000
Sabre
GLBL,
Inc.
10.75%
(a)
11/15/2029
124,247
185,000
Sirius
XM
Radio
LLC
5.50%
(a)
07/01/2029
177,590
90,000
Six
Flags
Entertainment
Corp.
6.63%
(a)
05/01/2032
91,289
90,000
Standard
Building
Solutions,
Inc.
6.50%
(a)
08/15/2032
90,222
45,000
Staples,
Inc.
10.75%
(a)
09/01/2029
44,327
90,000
TransDigm,
Inc.
6.88%
(a)
12/15/2030
91,403
163,000
Trident
TPI
Holdings,
Inc.
12.75%
(a)
12/31/2028
180,008
174,000
UKG,
Inc.
6.88%
(a)
02/01/2031
176,716
90,000
US
Foods,
Inc.
5.75%
(a)
04/15/2033
87,687
85,000
Vail
Resorts,
Inc.
6.50%
(a)
05/15/2032
86,024
163,000
Venture
Global
LNG,
Inc.
9.88%
(a)
02/01/2032
178,958
40,000
Veritiv
Operating
Co.
10.50%
(a)
11/30/2030
43,129
169,000
Victra
Holdings
LLC
8.75%
(a)
09/15/2029
177,516
168,000
Viking
Cruises
Ltd.
9.13%
(a)
07/15/2031
180,828
90,000
Vistra
Operations
Co.
LLC
6.88%
(a)
04/15/2032
92,238
169,000
VT
Topco,
Inc.
8.50%
(a)
08/15/2030
179,206
174,000
Wand
NewCo
3,
Inc.
7.63%
(a)
01/30/2032
178,897
80,000
Wells
Fargo
&
Co.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.77%)
6.85%
(d)
09/15/2029
82,772
191,000
WR
Grace
Holdings
LLC
5.63%
(a)
08/15/2029
175,879
269,000
XHR
LP
6.63%
(a)
05/15/2030
270,218
Total
US
Corporate
Bonds
(Cost
$9,144,722)
9,021,683
|
December
31,
2024
45
PRINCIPAL
AMOUNT
$/SHARES
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
SHORT
TERM
INVESTMENTS
23.0%
2,983,772
JPMorgan
U.S.
Government
Money
Market
Fund
-
Class
IM
4.46%
(e)
2,983,772
2,983,772
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio
-
Institutional
Share
Class
4.43%
(e)
2,983,772
Total
Short
Term
Investments
(Cost
$5,967,544)
5,967,544
Total
Investments
120.9%
(Cost
$31,476,996)
31,336,160
Liabilities
in
Excess
of
Other
Assets
(20.9)%
(5,418,922)
NET
ASSETS
100.0%
$25,917,238
(a)
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.
At
December
31,
2024,
the
value
of
these
securities
amounted
to
approximately
$15,723,763
or
60.67%
of
net
assets.
(b)
Coupon
rate
is
variable
or
floats
based
on
components
including
but
not
limited
to
reference
rate
and
spread.
These
securities
may
not
indicate
a
reference
rate
and/or
spread
in
their
description.
The
rate
disclosed
is
as
of
period
end.
(c)
Interest
only
security.
(d)
Perpetual
maturity.
The
date
disclosed
is
the
next
call
date
of
the
security.
(e)
Seven-day
yield
as
of
period
end.
Abbreviations:
SOFR
Secured
Overnight
Financing
Rate
Notes
to
Schedule
of
Investments
46
DoubleLine
ETF
Trust
(Unaudited)
December
31,
2024
1. Organization
DoubleLine
ETF
Trust,
a
Delaware
statutory
trust
(the
“Trust”),
was
formed
on
September
27,
2021
and
is
registered
with
the
Securities
and
Exchange
Commission
as
an
open-end
management
investment
company.
As
of
December
31,
2024,
the
Trust
consists
of
seven series,
DoubleLine
Opportunistic
Bond
ETF
(the
“Opportunistic
Bond
ETF”),
DoubleLine
Shiller
CAPE
®
U.S.
Equities
ETF
(the
“Equities
ETF”),
DoubleLine
Commercial
Real
Estate
ETF
(the
"Commercial
Real
Estate
ETF"),
DoubleLine
Mortgage
ETF
(the
"Mortgage
ETF"),
DoubleLine
Commodity
Strategy
ETF
(the
"Commodity
Strategy
ETF"),
DoubleLine
Fortune
500
Equal
Weight
ETF
(the "Fortune
500
ETF"),
and
DoubleLine
Multi-Sector
Income
ETF
(the
"Multi-Sector
Income
ETF")
(each
a
“Fund”
and
collectively
the
“Funds”).
The
Opportunistic
Bond
ETF,
Equities
ETF,
Commercial
Real
Estate
ETF,
Mortgage
ETF,
Fortune
500
ETF
and
Multi-Sector
Income
ETF are
managed
by
DoubleLine
ETF
Adviser
LP,
and
the
Commodity
Strategy
ETF
is
managed
by
DoubleLine
Alternatives
LP
(each,
an
“Adviser”
and
collectively,
the
“Advisers”),
which
are
registered
as
an
investment
advisers
with
the
U.S.
Securities
and
Exchange
Commission.
Each
Fund
offers
one
class
of
shares.
Each
Fund
is classified
as
non-diversified
under
the
Investment
Company
Act
of
1940,
as
amended
(the
“1940
Act”),
except
the
Fortune
500
ETF,
which
is
classified
as
a
diversified
fund.
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
Fund
commenced
operations
and
public
trading are
as
follows:
The
fiscal
year
end
for
the
Funds
is
September
30,
and
the
period
covered
by
these
Financial
Statements
is
for
the
period ended December
31,
2024. 
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
Fund
Name
Investment
Objective
Commencement
of
Operations
Commencement
of
Public
Trading
DoubleLine
Opportunistic
Bond
ETF
Seek
to
maximize
current
income
and
total
return
3/31/2022
4/5/2022
DoubleLine
Shiller
CAPE®
U.S.
Equities
ETF
Seek
total
return
which
exceeds
the
total
return
of
the
S&P
500®
Index
3/31/2022
4/5/2022
DoubleLine
Commercial
Real
Estate
ETF
Seek
current
income
and
capital
preservation
and
as
a
secondary
objective,
seek
long-term
capital
appreciation
3/31/2023
4/4/2023
DoubleLine
Mortgage
ETF
Seek
total
return
(capital
appreciation
and
current
income)
which
exceeds
the
total
return
of
its
benchmark
index,
the
Bloomberg
U.S.
Mortgage-Backed
Securities
Index,
over
a
full
market
cycle
3/31/2023
4/4/2023
DoubleLine
Commodity
Strategy
ETF
(Consolidated)
Seek
total
return
(capital
appreciation
and
current
income)
1/31/2024
2/1/2024
DoubleLine
Fortune
500
Equal
Weight
ETF
Seek
to
track
the
investment
results
(before
fees
and
expenses)
of
the
Barclays
Fortune
500
Equal
Weighted
Total
Return
Index
1/31/2024
2/1/2024
DoubleLine
Multi-Sector
Income
ETF
To
provide
income,
with
a
secondary
objective
of
capital
appreciation.
11/29/2024
12/3/2024
Notes
to
Schedule
of
Investments
(Cont.)
(Unaudited)
December
31,
2024
|
December
31,
2024
47
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. 
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. 
The
Funds'
holdings
in
whole
loans,
securitizations
and
certain
other
types
of
alternative
lending-related
instruments
may
be
valued
based
on
prices
provided
by
a
third-party
pricing
service.
Senior
secured
floating
rate
loans
for
which
an
active
secondary
market
exists
to
a
reliable
degree
will
be
valued
at
the
mean
of
the
last
available
bid/ask
prices
in
the
market
for
such
loans,
as
provided
by
an
independent
pricing
service.
Where
an
active
secondary
market
does
not
exist
to
a
reliable
degree
in
the
judgment
of
the
Adviser,
such
loans
will
be
valued
at
fair
value
based
on
certain
factors.
In
respect
of
certain
commercial
real
estate-related,
residential
real
estate-related
and
certain
other
investments
for
which
a
limited
market
may
exist,
the
Funds
may
value
such
investments
based
on
appraisals
conducted
by
an
independent
valuation
advisor
or
a
similar
pricing
agent.
However,
an
independent
valuation
firm
may
not
be
retained
to
undertake
an
evaluation
of
an
asset
unless
the
NAV,
market
price
and
other
aspects
of
an
investment
exceed
certain
significance
thresholds.
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.
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.
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
Notes
to
Schedule
of
Investments
(Cont.)
48
DoubleLine
ETF
Trust
(Unaudited)
December
31,
2024
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
ETF
Adviser
or
DoubleLine
Alternatives
LP (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
the
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
Funds'
investments
as
of
December
31,
2024:
Category
DoubleLine
Opportunistic
Bond
ETF
DoubleLine
Shiller
CAPE®
U.S.
Equities
ETF
DoubleLine
Commercial
Real
Estate
ETF
DoubleLine
Mortgage
ETF
DoubleLine
Commodity
Strategy
ETF
(Consolidated)
Investments
in
Securities
Level
1
Common
Stocks
$
—
$
368,582,512
$
—
$
—
$
—
Money
Market
Funds
8,020,876
385,436
7,353,754
10,086,038
983,006
Total
Level
1
8,020,876
368,967,948
7,353,754
10,086,038
983,006
Level
2
US
Government
and
Agency
Mortgage
Backed
Obligations
71,476,241
—
24,695,065
342,260,754
—
Non-Agency
Commercial
Mortgage
Backed
Obligations
17,372,011
—
137,632,171
—
—
Non-Agency
Residential
Collateralized
Mortgage
Obligations
32,946,989
—
—
51,744,480
—
US
Government
and
Agency
Obligations
76,969,436
—
—
—
—
Collateralized
Loan
Obligations
15,701,068
—
51,521,493
—
—
US
Corporate
Bonds
50,266,653
—
—
—
—
Asset
Backed
Obligations
32,631,748
—
—
—
—
Foreign
Corporate
Bonds
24,167,766
—
—
—
—
Other
Short
Term
Investments
—
—
—
—
21,295,044
Bank
Loans
10,345,451
—
—
—
—
Foreign
Government
Bonds,
Foreign
Agencies
and
Foreign
Government
Sponsored
Corporations
1,007,385
—
—
—
—
Total
Level
2
332,884,748
—
213,848,729
394,005,234
21,295,044
Level
3
—
—
—
—
—
Total
$
340,905,624
$
368,967,948
$
221,202,483
$
404,091,272
$
22,278,050
Other
Financial
Instruments
Assets
Level
1
Futures
$
608,500
$
—
$
—
$
597,835
$
—
Level
2
Excess
Return
Swaps
—
—
—
—
141,630
Unfunded
Loan
Commitments
236
—
—
—
—
Total
Level
2
—
—
—
—
—
Level
3
—
—
—
—
—
Liabilities
Level
1
Futures
$
(788,791)
$
—
$
—
$
(574,029)
$
—
Level
2
—
—
—
—
—
Level
3
—
—
—
—
—
Total
$
(180,055)
$
—
$
—
$
23,806
$
141,630
Notes
to
Schedule
of
Investments
(Cont.)
(Unaudited)
December
31,
2024
|
December
31,
2024
49
Category
DoubleLine
Fortune
500
Equal
Weight
ETF
DoubleLine
Multi-Sector
Income
ETF
Investments
in
Securities
Level
1
Common
Stocks
$
13,574,348
$
—
Money
Market
Funds
15,468
5,967,544
Total
Level
1
13,589,816
5,967,544
Level
2
US
Corporate
Bonds
—
9,021,683
Bank
Loans
—
7,954,849
Non-Agency
Commercial
Mortgage
Backed
Obligations
—
2,872,732
Collateralized
Loan
Obligations
—
1,926,429
Non-Agency
Residential
Collateralized
Mortgage
Obligations
—
1,431,820
Asset
Backed
Obligations
—
1,088,682
Foreign
Corporate
Bonds
—
1,072,421
Total
Level
2
—
25,368,616
Level
3
—
—
Total
$
13,589,816
$
31,336,160
Other
Financial
Instruments
Liabilities
Level
1
—
—
Level
2
Unfunded
Loan
Commitments
—
(112)
Level
3
—
—
Total
$
—
$
(112)
See
the
Schedules
of
Investments
for
further
disaggregation
of
investment
categories.