DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
June
30,
2026
(Unaudited)
1
PRINCIPAL
AMOUNT
$
S
ECURITY
D
ESCRIPTION
R
ATE
M
ATURITY
V
ALUE
$
a
a
a
a
a
ASSET
BACKED
OBLIGATIONS
-
5.6%
AB
Issuer
LLC
2,000,000
Series
2026-1A-A2
(a)
..................................................
6.41%
4/30/2056
2,014,290
Affirm,
Inc.
2,250,000
Series
2024-X2-D
(a)
...................................................
6.08%
12/17/2029
2,256,306
Altde
Trust
2,715,204
Series
2026-1A-B
(a)
...................................................
6.25%
4/15/2051
2,713,325
Apollo
Aviation
Securitization
Equity
Trust
809,304
Series
2022-1A-A
(a)
...................................................
6.00%
5/16/2047
811,030
1,372,958
Series
2024-1A-B
(a)
...................................................
6.90%
5/16/2049
1,383,886
1,323,614
Series
2024-2A-B
(a)
...................................................
6.61%
9/16/2049
1,323,193
2,694,191
Series
2025-1A-B
(a)
...................................................
6.58%
2/16/2050
2,696,091
Blue
Stream
Communications
LLC
1,000,000
Series
2024-1A-B
(a)
...................................................
6.04%
11/20/2054
1,013,238
1,000,000
Series
2024-1A-C
(a)
...................................................
8.71%
11/20/2054
1,042,097
Business
Jet
Securities
LLC
1,208,444
Series
2024-2A-C
(a)
...................................................
7.97%
9/15/2039
1,209,681
CAI
International,
Inc.
506,875
Series
2020-1A-B
(a)
...................................................
3.50%
9/25/2045
489,095
Castlelake
Aircraft
Securitization
Trust
2,468,915
Series
2018-1-B
(a)
....................................................
5.30%
6/15/2043
2,414,033
1,727,380
Series
2025-1A-A
(a)
...................................................
5.78%
2/15/2050
1,743,757
391,688
Series
2026-1A-B
(a)
...................................................
5.76%
3/15/2051
388,283
Compass
Datacenters
LLC
500,000
Series
2024-2A-B2
(a)
..................................................
6.00%
8/25/2049
496,760
1,500,000
Series
2025-1A-A3
(a)
..................................................
5.85%
2/25/2050
1,503,984
DataBank
Issuer
II
LLC
3,000,000
Series
2025-1A-B
(a)
...................................................
5.67%
9/27/2055
2,893,018
DigitalBridge
Group,
Inc.
2,000,000
Series
2023-1A-B
(a)
...................................................
5.75%
9/15/2048
1,968,193
Dividend
Solar
Loans
LLC
713,547
Series
2018-1-B
(a)
....................................................
4.29%
7/20/2038
664,477
493,761
Series
2018-2-B
(a)
....................................................
4.25%
12/20/2038
456,201
Eclipse
Aircraft
Ltd.
496,456
Series
2026-1-B
(a)
....................................................
6.45%
5/15/2051
499,043
ExteNet
LLC
1,500,000
Series
2024-1A-C
(a)
...................................................
9.05%
7/25/2054
1,204,531
GreenSky
LLC
464,195
Series
2024-2-D
(a)
....................................................
6.43%
10/27/2059
469,322
2,100,000
Series
2025-3A-E
(a)
...................................................
7.83%
12/27/2060
2,131,941
Hilton
Grand
Vacations,
Inc.
713,176
Series
2025-3EXT-D
(a)
.................................................
7.38%
10/25/2044
722,713
JOL
Air
Ltd.
71,307
Series
2019-1-B
(a)
....................................................
4.95%
4/15/2044
70,600
Luminace
Issuer
LLC
696,416
Series
2024-1-A
(a)
....................................................
5.87%
10/30/2031
681,001
Lunar
Structured
Aircraft
Portfolio
Notes
1,388,382
Series
2021-1-C
(a)
....................................................
5.68%
10/15/2046
1,378,111
Mariner
Finance
Issuance
Trust
2,250,000
Series
2024-BA-A
(a)
...................................................
4.91%
11/20/2038
2,248,731
Marlette
Funding
Trust
227,335
Series
2022-1A-D
(a)
...................................................
3.39%
4/15/2032
225,007
Mosaic
Solar
Loans
LLC
1,958,275
Series
2025-1A-A
(a)
...................................................
6.12%
8/22/2050
1,944,724
Pagaya
AI
Debt
Selection
Trust
367,342
Series
2021-3-C
(a)
....................................................
3.27%
5/15/2029
363,928
2,499,903
Series
2025-5-C
(a)
....................................................
5.64%
3/15/2033
2,501,827
Phantom
Aviation
1,724,204
Series
2026-1A-B
(a)
...................................................
6.03%
1/15/2051
1,682,771
PK
Alift
Loan
Funding
LLC
2,634,786
Series
2026-1-D
(a)
....................................................
5.60%
9/15/2043
2,597,922
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
2
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
QTS
Issuer
ABS
LLC
2,500,000
Series
2025-1A-B
(a)
...................................................
5.93%
5/25/2055
2,440,405
3,000,000
Series
2025-1A-B
(a)
...................................................
5.78%
10/5/2055
2,879,416
RKTL
2,795,567
Series
2026-2A-A
(a)
...................................................
4.33%
5/25/2035
2,792,322
Scalelogix
Abs
Us
Issuer
LLC
2,500,000
Series
2025-1A-B
(a)
...................................................
6.16%
7/25/2055
2,439,843
SOFI
Consumer
Loan
Program
Trust
4,150,000
Series
2026-3-C
(a)
....................................................
5.09%
6/25/2035
4,159,885
SSI
ABS
Issuer
LLC
722,688
Series
2025-1-A
(a)
....................................................
6.15%
7/25/2065
711,257
Stonex
SBA
Trust
10,820,020
Series
2026-1-A
(a)(b)(c)
..................................................
1.96%
2/25/2057
579,650
Subway
Funding
LLC
985,000
Series
2024-3A-A23
(a)
.................................................
5.91%
7/30/2054
954,168
Switch
Ltd.
1,500,000
Series
2024-1A-B
(a)
...................................................
6.50%
3/25/2054
1,496,667
1,000,000
Series
2024-2A-C
(a)
...................................................
10.03%
6/25/2054
1,015,644
Tesla
Sustainable
Energy
Trust
1,500,000
Series
2024-1A-C
(a)
...................................................
6.25%
6/21/2050
1,504,342
TSC
SPV
Funding
LLC
2,500,000
Series
2026-1A-A2
(a)
..................................................
5.95%
5/20/2056
2,503,688
Uniti
Group
LP
2,500,000
Series
2025-1A-B
(a)
...................................................
6.37%
4/20/2055
2,524,573
Upgrade
Master
Pass-Thru
Trust
2,000,000
Series
2025-ST6-C
(a)
..................................................
5.78%
10/15/2032
1,983,900
Upstart
Securitization
Trust
2,850,000
Series
2024-1-B
(a)
....................................................
6.24%
11/20/2034
2,868,996
2,100,000
Series
2025-2-C
(a)
....................................................
6.02%
6/20/2035
2,110,945
2,650,000
Series
2025-3-C
(a)
....................................................
5.43%
9/20/2035
2,633,673
Vital
Care
Issuer
LLC
1,995,000
Series
2025-1A-A2
(a)
..................................................
6.74%
1/30/2056
2,005,430
Vivant
Solar
Financing
V
Parent
LLC
3,890,713
Series
2018-1A-A
(a)
...................................................
4.73%
4/30/2048
3,810,192
Willis
Lease
Finance
Corp.
2,440,152
Series
2025-B-B
(a)
....................................................
5.70%
12/15/2050
2,450,210
Total
Asset
Backed
Obligations
(Cost
$92,580,203)
92,068,316
BANK
LOANS
-
8.8%
1261229
BC
Ltd.
321,750
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
6.25%,
0.00%
Floor)
.........
9.92%
10/8/2030
312,751
ABG
Intermediate
Holdings
2
LLC
54,038
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
12/21/2028
54,119
ACI
Rover
Parent
LLC
355,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.90%
6/9/2033
354,911
Acrisure
LLC
2,134,297
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
11/6/2030
1,935,989
356,400
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
6/21/2032
323,166
ADI
Global
Distribution
Funding
LLC
610,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
0.00%
6/16/2033
612,287
AI
Aqua
Merger
Sub,
Inc.
930,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
0.00%
7/4/2033
930,525
2,565,030
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.16%
7/31/2028
2,565,658
Alera
Group,
Inc.
535,957
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.42%
5/28/2032
510,702
205,000
Senior
Secured
Second
Lien
Term
Loan
(1
mo.
Term
SOFR
+
5.50%,
0.00%
Floor)
......
9.18%
5/31/2033
195,690
Alkermes,
Inc.
478,800
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
8/12/2031
481,194
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
3
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Alliant
Holdings
Intermediate
LLC
872,796
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.12%
9/19/2031
862,187
Allied
Universal
Holdco
LLC
883,325
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
8/20/2032
884,778
Allison
Transmission,
Inc.
688,275
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.42%
1/3/2033
688,420
Allspring
Buyer
LLC
739,637
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.75%
11/1/2030
742,503
Alpha
Generation
LLC
842,235
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.42%
9/30/2031
835,998
755,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.37%
6/10/2033
747,922
Alterra
Mountain
Co.
318,396
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
8/17/2028
319,292
255,936
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
5/31/2030
256,044
American
Airlines,
Inc.
435,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
5/31/2033
430,378
American
Axle
&
Manufacturing,
Inc.
434,500
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.91%
2/3/2033
435,404
AmWINS
Group,
Inc.
749,837
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
1/30/2032
735,249
APi
Group
DE,
Inc.
294,263
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.38%
5/16/2033
294,043
Applied
Systems,
Inc.
345,000
Senior
Secured
Second
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
......
8.20%
2/23/2032
341,766
Apro
LLC
882,501
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.43%
7/9/2031
885,074
Ascend
Learning
LLC
1,412,755
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
12/11/2028
1,380,579
Aspire
Bakeries
Holdings
LLC
474,860
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
12/23/2030
478,027
Asurion
LLC
441,133
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.92%
9/19/2030
437,366
140,657
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.92%
9/19/2030
139,320
111,869
Senior
Secured
Second
Lien
Term
Loan
(1
mo.
Term
SOFR
+
5.25%,
0.00%
Floor)
......
9.18%
1/22/2029
110,862
AthenaHealth
Group,
Inc.
590,892
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
0.00%,
0.00%
Floor)
.........
6.86%
2/17/2032
585,500
Aveanna
Healthcare
LLC
1,170,559
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.87%
9/17/2032
1,176,874
Bausch
+
Lomb
Corp.
1,929,951
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.42%
1/15/2031
1,936,947
BCP
VI
Summit
Holdings
LP
753,769
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.37%
1/30/2032
756,656
BCPE
Empire
Holdings,
Inc.
617,537
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
12/26/2030
610,207
314,213
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.17%
12/29/2032
310,940
Belden,
Inc.
591,775
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
0.00%
6/11/2033
593,255
BioMarin
Pharmaceutical,
Inc.
505,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.43%
4/27/2033
505,505
Blackfin
Pipeline
LLC
512,425
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.69%
9/29/2032
514,880
Boots
Group
Finco
LP
432,825
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
6.92%
8/30/2032
434,898
Boxer
Parent
Co.,
Inc.
1,473,453
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
7/30/2031
1,331,788
160,533
Senior
Secured
Second
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.75%,
0.00%
Floor)
......
9.42%
7/30/2032
138,125
Brown
Group
Holding
LLC
649,261
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
7/1/2031
651,666
337,270
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
7/1/2031
338,491
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
4
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Caesars
Entertainment,
Inc.
827,883
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
2/6/2031
798,650
Calcasieu
Pass
Funding
LLC
510,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.95%
4/11/2033
512,091
Camelot
US
Acquisition
LLC
553,097
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.42%
1/31/2031
511,153
Cengage
Learning,
Inc.
1,584,247
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
3/24/2031
1,569,942
Chariot
Buyer
LLC
291,827
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.42%
9/8/2032
292,338
CHG
Healthcare
Services,
Inc.
1,062,338
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.64%
9/30/2031
1,063,947
Clarios
Global
LP
413,655
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
5/6/2030
414,561
Clear
Channel
Outdoor
Holdings,
Inc.
375,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.78%
8/23/2028
375,971
Cloud
Software
Group,
Inc.
293,521
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.95%
8/16/2032
254,891
Clydesdale
Acquisition
Holdings,
Inc.
298,773
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.84%
4/13/2029
293,975
603,125
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
4/1/2032
580,758
CNT
Holdings
I
Corp.
334,787
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
11/8/2032
335,463
Colossus
Acquireco
LLC
1,447,725
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.39%
1/10/2033
1,440,190
Columbus
McKinnon
Corp./NY
872,132
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.20%
2/3/2033
871,587
Compass
Power
Generation
LLC
587,249
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.14%
4/16/2029
588,447
CompoSecure
Holdings
LLC
605,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.93%
1/14/2033
602,495
Construction
Partners,
Inc.
647,790
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.64%
11/3/2031
648,411
Core
&
Main
LP
240,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
0.00%
6/25/2033
240,000
CoreLogic,
Inc.
724,484
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.28%
6/2/2028
717,240
Cornerstone
Building
Brands,
Inc.
206,807
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
7.02%
4/12/2028
127,186
49,125
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.17%
5/15/2031
25,496
Cotiviti,
Inc.
1,075,865
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.41%
5/1/2031
986,773
143,550
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.41%
3/29/2032
130,676
CPI
Holdco
B
LLC
852,027
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
5/19/2031
849,718
CPPIB
OVM
Member
US
LLC
290,671
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.95%
8/20/2031
291,190
CQP
Holdco
LP
355,516
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.45%
12/31/2032
353,944
Creative
Artists
Agency
LLC
692,885
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
10/1/2031
693,592
Crown
Finance
US,
Inc.
962,563
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.17%
12/2/2031
966,312
Curium
Bidco
Sarl
188,042
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.70%
8/7/2031
188,159
Cyborg
Oldco
DC
Holdings,
Inc.
98,874
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
(d)(e)
......
0.00%
5/1/2027
–
DaVita,
Inc.
588,514
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.37%
5/9/2031
588,652
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
5
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Dayforce
Bidco
LLC
1,490,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.66%
2/4/2033
1,362,933
Deep
Blue
Operating
I
LLC
294,263
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
6.42%
10/1/2032
295,551
Delek
US
Holdings,
Inc.
780,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.62%
5/17/2032
780,550
Delta
2
Lux
Sarl
2,930,000
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.45%
9/19/2031
2,933,662
DexKo
Global,
Inc.
295,810
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.16%
10/9/2031
287,359
DG
Investment
Intermediate
Holdings
2,
Inc.
1,442,750
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
7/12/2032
1,447,259
140,000
Senior
Secured
Second
Lien
Term
Loan
(1
mo.
Term
SOFR
+
5.50%,
0.00%
Floor)
......
9.17%
7/29/2033
141,225
Directv
Financing
LLC
269,704
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.25%,
0.00%
Floor)
.........
9.18%
8/2/2029
271,560
DirectV
Financing
LLC
270,118
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.50%,
0.00%
Floor)
.........
9.16%
2/18/2031
271,253
Discovery
Global
Holdings,
Inc.
1,098,462
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.12%
5/27/2033
1,100,131
Dynasty
Acquisition
Co.,
Inc.
105,855
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.67%
10/31/2031
106,226
278,295
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.67%
10/31/2031
279,272
Eagle
Parent
Corp.
860,525
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.95%
4/2/2029
866,764
Ecovyst
Catalyst
Technologies
LLC
450,304
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
6/12/2031
450,626
Edelman
Financial
Engines
Center
LLC
1,127,431
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.65%
11/28/2031
1,131,924
EG
America
LLC
1,370,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
2/10/2031
1,376,638
Eisner
Advisory
Group
LLC
739,010
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.67%
2/28/2031
727,364
Element
Materials
Technology
Group
US
Holdings,
Inc.
383,880
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.20%
6/25/2029
386,438
Ellucian
Holdings,
Inc.
30,000
Senior
Secured
Second
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.75%,
0.00%
Floor)
......
8.42%
11/22/2032
29,046
Emrld
Borrower
LP
881,670
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.95%
8/4/2031
881,983
Enviri
Corp.
574,506
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
6.03%
3/10/2028
573,429
ESCO
Technologies,
Inc.
415,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
0.00%
6/10/2033
415,000
Fertitta
Entertainment
LLC/NV
1,336,143
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
1/29/2029
1,336,290
First
Advantage
Holdings
LLC
451,040
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
10/31/2031
446,126
First
Eagle
Holdings,
Inc.
44,479
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
3.50%
8/16/2032
44,499
259,218
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.20%
8/16/2032
259,332
Focus
Financial
Partners
LLC
1,440,249
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
9/15/2031
1,408,484
Fortrea
Holdings,
Inc.
15,332
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.17%
7/1/2030
15,269
Freeport
LNG
Investments
LLP
795,000
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.89%
1/31/2033
797,484
Gainwell
Acquisition
Corp.
1,509,229
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.80%
10/1/2027
1,489,111
Garda
World
Security
Corp.
889,341
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.42%
2/1/2029
889,341
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
6
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
GBT
US
III
LLC
728,502
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
7/28/2031
728,936
Genmab
A/S
648,558
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.62%
12/13/2032
648,843
GIP
Pilot
Acquisition
Partners
LP
275,994
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.64%
5/19/2032
276,339
Golden
State
Foods
LLC
473,940
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.20%
12/4/2031
475,298
Graham
Packaging
Co.,
Inc.
773,063
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
1/26/2033
774,431
Grant
Thornton
Advisors
LLC
1,457,324
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.42%
5/30/2031
1,390,382
Great
Outdoors
Group
LLC
407,174
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
1/23/2032
408,955
Green
Infrastructure
Partners,
Inc.
608,475
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
9/24/2032
609,236
Hexion
Holdings
Corp.
142,036
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.67%
3/15/2029
137,597
Hightower
Holding
LLC
1,559,394
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.41%
2/3/2032
1,550,872
HomeServe
USA
Holding
Corp.
180,838
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
5.68%
10/21/2030
180,411
Hopper
Merger
Sub,
Inc.
1,480,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
4/7/2033
1,450,097
HUB
International
Ltd.
790,948
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
5.92%
6/20/2030
791,023
INEOS
US
Finance
LLC
269,277
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
2/19/2030
248,678
INEOS
US
Petrochem
LLC
286,201
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.92%
10/7/2031
241,663
ION
Platform
Finance
US,
Inc.
967,575
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.45%
9/30/2032
700,282
Kaman
Corp.
252,683
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
2/26/2032
252,574
29,310
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
0.00%
2/26/2032
29,297
Lavender
US
HoldCo
1,
Inc.
238,401
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.95%
12/31/2032
237,135
LBM
Acquisition
LLC
299,293
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.52%
6/6/2031
251,834
LC
Ahab
US
Bidco
LLC
716,555
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
5/1/2031
717,153
Life
Time,
Inc.
329,992
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
11/5/2031
330,734
LifePoint
Health,
Inc.
829,866
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.42%
5/19/2031
818,592
Lightning
Power
LLC
338,963
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
8/18/2031
339,727
Live
Nation
Entertainment,
Inc.
587,050
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
10/21/2032
588,060
Madison
Safety
&
Flow
LLC
180,362
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.18%
9/26/2031
180,826
Mativ
Holdings,
Inc.
395,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.16%
4/4/2033
395,987
McKesson
Medical-Surgical
Top
Holdings,
Inc.
760,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.86%
6/9/2032
761,110
Meade
Pipeline
Co.
LLC
495,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.69%
9/22/2032
496,237
Medline
Borrower
LP
314,213
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.50%,
0.00%
Floor)
.........
5.11%
5/31/2033
312,588
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
7
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
MH
Sub
I
LLC
996,469
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.92%
12/31/2031
866,181
Michaels
Cos.,
Inc.
885,000
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.00%,
0.00%
Floor)
.........
8.67%
3/7/2033
882,456
Mitchell
International,
Inc.
1,140,641
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
6/17/2031
1,089,107
145,000
Senior
Secured
Second
Lien
Term
Loan
(1
mo.
Term
SOFR
+
5.25%,
0.00%
Floor)
......
8.92%
6/17/2032
133,907
MITER
Brands
Acquisition
Holdco,
Inc.
556,817
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.42%
3/28/2031
550,739
Motion
Finco
Sarl
918,844
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.20%
11/30/2029
785,993
MX
Holdings
US,
Inc.
158,406
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.67%
3/17/2032
158,654
Natgasoline
LLC
330,358
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
5.50%,
0.00%
Floor)
.........
9.17%
3/29/2030
331,184
Neptune
Bidco
US,
Inc.
295,000
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.00%,
0.00%
Floor)
.........
8.76%
2/3/2033
293,012
Nexstar
Broadcasting
T/L
B7
727,643
Senior
Secured
Term
Loan
(f)
.............................................
6.39%
3/21/2033
721,341
Nexstar
Media,
Inc.
618,750
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
6/28/2032
613,336
NGL
Energy
Operating
LLC
319,200
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
0.00%,
0.00%
Floor)
.........
7.18%
3/11/2033
320,853
Nouryon
Finance
BV
280,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
0.00%
7/31/2031
280,409
NRG
Energy,
Inc.
887,775
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.41%
4/28/2033
887,664
Numericable
US
LLC
767,049
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
6.88%,
0.00%
Floor)
.........
10.55%
5/15/2031
784,691
OAK-Eagle
Acquireco,
Inc.
1,030,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
0.00%
3/24/2033
1,033,698
OEP
Glass
Purchaser
LLC
320,938
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.70%
3/2/2033
320,739
OneDigital
Borrower
LLC
810,664
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
7/2/2031
787,560
Ontario
Gaming
GTA
LP
597,085
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.95%
8/1/2030
570,100
Opal
Bidco
SAS
552,640
Senior
Secured
First
Lien
Term
Loan
(6
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.11%
4/23/2032
552,936
OPENLANE,
Inc.
174,125
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.14%
10/8/2032
174,996
Ovg
Business
Services
LLC
1,111,631
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
6/25/2031
1,114,416
Pacific
Dental
Services
LLC
539,486
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
6.18%
5/29/2031
540,226
Pathfinder
Power
LLC
675,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
0.00%
6/22/2033
674,369
PetSmart
LLC
898,388
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.67%
8/18/2032
898,576
Pinnacle
Buyer
LLC
37,097
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
2.50%
10/1/2032
37,213
192,421
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.16%
10/1/2032
193,022
Pioneer
Opco,
LLC
260,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.88%
5/16/2033
261,323
PointClickCare
Technologies,
Inc.
735,000
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
0.00%
11/3/2031
733,100
Pregis
TopCo
LLC
839,398
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.67%
2/1/2029
842,768
Prestige
Brands,
Inc.
220,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.62%
7/1/2033
220,482
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
8
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Pretzel
Parent
T/L
B
560,047
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.17%
10/1/2031
535,684
Primo
Brands
Corp.
418,950
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
3/31/2031
421,344
Project
Aurora
US
Finco,
Inc.
288,550
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
12/6/2032
290,232
Proofpoint,
Inc.
289,260
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.70%
8/31/2028
279,798
Pye-Barker
Fire
&
Safety
LLC
55,900
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
1.25%
12/16/2032
56,048
374,100
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
12/16/2032
375,088
Qnity
Electronics,
Inc.
751,225
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
11/1/2032
753,659
Quikrete
Holdings,
Inc.
569,996
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
3/19/2029
570,899
68,433
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
4/14/2031
68,458
770,209
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
2/10/2032
770,529
QXO
Building
Products,
Inc.
715,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
0.00%
6/3/2033
714,303
Radiology
Partners,
Inc.
723,901
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.20%
6/30/2032
724,654
RealPage,
Inc.
622,809
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.96%
4/24/2028
583,691
247,323
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.45%
4/24/2028
233,189
Resideo
Funding,
Inc.
744,375
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
8/13/2032
745,614
Sabre
GLBL,
Inc.
149,141
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
6.00%,
0.00%
Floor)
.........
9.77%
11/15/2029
133,779
93,436
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
6.00%,
0.00%
Floor)
.........
9.77%
11/15/2029
83,882
Savor
Acquisition,
Inc.
37,500
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
3.00%
2/19/2032
37,748
482,848
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.67%
2/19/2032
486,047
Sedgwick
Claims
Management
Services,
Inc.
2,151,267
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
7/31/2031
2,127,872
Select
Medical
Corp.
695,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
0.00%
12/3/2031
698,475
Sgh2
LLC
446,625
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.50%,
0.00%
Floor)
.........
8.20%
8/18/2032
447,183
Shift4
Payments
LLC
385,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
0.00%
7/30/2032
380,187
Signia
Aerospace
LLC
986,433
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.20%
12/11/2031
988,287
34,437
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
0.00%
12/11/2031
34,501
Six
Flags
Entertainment
Corp.
597,179
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
5/1/2031
592,467
Skyshield
US
Bidco
Ltd.
265,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
0.00%
6/23/2033
265,249
Southern
Veterinary
Partners
LLC
1,239,234
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.18%
12/4/2031
1,239,525
Staples,
Inc.
314,336
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.75%,
0.00%
Floor)
.........
9.41%
9/10/2029
292,823
Starwood
Property
Mortgage
LLC
97,001
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
1/2/2030
96,961
482,167
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.61%
9/24/2032
481,986
Stonepeak
Bayou
Holdings
LP
334,163
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.45%
10/1/2032
333,883
StubHub
Holdco
Sub
LLC
127,802
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.75%,
0.00%
Floor)
.........
8.42%
3/15/2030
128,800
Sunrise
Financing
Partnership
1,025,000
Senior
Secured
First
Lien
Term
Loan
(6
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.10%
2/17/2032
1,013,561
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
9
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Sword
Purchaser
LLC
670,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.66%
4/11/2033
654,664
Talen
Energy
Supply
LLC
567,150
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
5.67%
11/26/2032
564,048
TAMKO
Building
Products,
Inc.
355,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.64%
9/20/2030
355,444
Team
Health
Holdings,
Inc.
415,288
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.66%
6/30/2028
416,384
Tecta
America
Corp.
514,800
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.14%
2/18/2032
515,858
Tiger
Acquisition
LLC
688,411
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.18%
8/23/2032
691,089
TK
Elevator
US
Newco,
Inc.
865,655
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.38%
4/30/2030
870,434
TKO
Worldwide
Holdings
LLC
(f/k/a
UFC
Holdings
LLC)
645,602
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.41%
11/21/2031
644,304
Townsquare
Media,
Inc.
145,266
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
5.00%,
0.00%
Floor)
.........
8.59%
2/19/2030
107,520
TransDigm,
Inc.
898,213
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
8/19/2032
899,371
294,263
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
2/10/2033
294,594
643,515
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
2/28/2031
644,358
437,213
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
1/20/2032
437,755
Traverse
Midstream
Partners
LLC
505,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
0.00%
4/21/2033
505,316
Trident
TPI
Holdings,
Inc.
295,463
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.45%
9/18/2028
284,137
UKG,
Inc.
1,488,750
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
2/10/2031
1,405,514
United
Natural
Foods,
Inc.
241,216
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.64%
5/1/2031
243,628
United
Talent
Agency
LLC
138,254
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.68%
6/10/2032
138,859
Univision
Communications,
Inc.
228,253
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
7.28%
1/31/2029
227,041
700,753
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.95%
6/25/2029
701,103
Veritiv
Operating
Co.
310,240
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
4.00%,
0.00%
Floor)
.........
7.70%
11/29/2030
294,003
Vestis
Corp.
552,607
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
2/24/2031
546,114
Victory
Capital
Holdings,
Inc.
168,725
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.70%
9/23/2032
168,264
Victra
Holdings
LLC
2,083,019
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.75%,
0.00%
Floor)
.........
7.45%
3/29/2029
2,064,792
Virgin
Media
Bristol
LLC
875,000
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
7.04%
1/31/2029
840,599
Virtus
Investment
Partners,
Inc.
272,938
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.25%,
0.00%
Floor)
.........
5.92%
9/27/2032
271,232
Voyager
Parent
LLC
913,261
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
4.25%,
0.00%
Floor)
.........
7.95%
7/1/2032
914,960
VT
Topco,
Inc.
220,266
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
3.00%,
0.00%
Floor)
.........
6.67%
8/9/2030
216,429
Wand
NewCo
3,
Inc.
1,076,669
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.75%,
0.00%
Floor)
.........
6.17%
1/30/2031
1,076,669
WEC
US
Holdings,
Inc.
456,863
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.00%,
0.00%
Floor)
.........
0.00%
1/27/2031
457,004
Whatabrands
LLC
2,952,506
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
2.50%,
0.00%
Floor)
.........
6.17%
8/3/2028
2,952,034
White
Cap
Supply
Holdings
LLC
412,413
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
10/29/2029
412,277
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
10
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
WhiteWater
Matterhorn
Holdings
LLC
564,600
Senior
Secured
First
Lien
Term
Loan
(3
mo.
Term
SOFR
+
1.75%,
0.00%
Floor)
.........
5.50%
6/16/2032
561,424
Zayo
Group
Holdings,
Inc.
2,161,054
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.50%,
0.00%
Floor)
.........
0.50%
3/11/2030
2,163,215
Zelis
Payments
Buyer,
Inc.
739,541
Senior
Secured
First
Lien
Term
Loan
(1
mo.
Term
SOFR
+
3.25%,
0.00%
Floor)
.........
6.92%
11/26/2031
723,134
Total
Bank
Loans
(Cost
$145,873,578)
144,513,798
COLLATERALIZED
LOAN
OBLIGATIONS
-
12.5%
Allegro
CLO
Ltd.
1,800,000
Series
2024-2A-A1
(3
mo.
Term
SOFR
+
1.50%,
1.50%
Floor)
(a)
....................
5.17%
7/24/2037
1,804,842
Anthelion
CLO
1,000,000
Series
2025-1A-A1
(3
mo.
Term
SOFR
+
1.50%,
1.50%
Floor)
(a)
....................
5.18%
7/20/2036
1,002,957
Apidos
CLO
5,000,000
Series
2024-1A-A1R
(3
mo.
Term
SOFR
+
1.25%,
1.25%
Floor)
(a)
...................
4.92%
10/25/2038
5,010,012
500,000
Series
2024-1A-D1R
(3
mo.
Term
SOFR
+
2.70%,
2.70%
Floor)
(a)
...................
6.37%
10/25/2038
503,117
3,000,000
Series
2025-54A-A1
(3
mo.
Term
SOFR
+
1.30%,
1.30%
Floor)
(a)
...................
4.98%
10/20/2038
3,007,073
Bain
Capital
Credit
CLO
Ltd.
1,000,000
Series
2019-4A-A1RR
(3
mo.
Term
SOFR
+
0.99%,
0.99%
Floor)
(a)
..................
4.66%
4/23/2035
1,000,213
1,000,000
Series
2021-1A-AR
(3
mo.
Term
SOFR
+
0.94%,
0.94%
Floor)
(a)
....................
4.62%
4/18/2034
1,000,190
1,250,000
Series
2021-7A-DR
(3
mo.
Term
SOFR
+
2.90%,
2.90%
Floor)
(a)
...................
6.56%
1/22/2035
1,226,724
2,500,000
Series
2023-2A-A1R
(3
mo.
Term
SOFR
+
1.32%,
1.32%
Floor)
(a)
...................
5.00%
7/18/2038
2,505,908
1,000,000
Series
2025-1A-D1
(3
mo.
Term
SOFR
+
2.50%,
2.50%
Floor)
(a)
....................
6.17%
4/23/2038
993,490
1,000,000
Series
2025-3A-D1
(3
mo.
Term
SOFR
+
2.85%,
2.85%
Floor)
(a)
....................
6.52%
7/23/2038
1,004,834
Benefit
Street
Partners
CLO
Ltd.
500,000
Series
2025-42A-D1
(3
mo.
Term
SOFR
+
2.70%,
2.70%
Floor)
(a)
...................
6.37%
10/25/2038
502,892
BlueMountain
CLO
Ltd.
3,770,000
Series
2013-2A-DR
(3
mo.
Term
SOFR
+
3.16%,
0.00%
Floor)
(a)
...................
6.83%
10/22/2030
3,779,768
1,000,000
Series
2016-3A-DR
(3
mo.
Term
SOFR
+
3.36%,
3.10%
Floor)
(a)
...................
7.01%
11/15/2030
1,004,949
1,000,000
Series
2017-2A-C
(3
mo.
Term
SOFR
+
3.26%,
0.00%
Floor)
(a)
.....................
6.94%
10/20/2030
1,002,833
2,500,000
Series
2018-23A-D1R
(3
mo.
Term
SOFR
+
3.85%,
3.85%
Floor)
(a)
..................
7.53%
7/20/2037
2,451,390
Canyon
Capital
CLO
Ltd.
1,000,000
Series
2012-1RA-D
(3
mo.
Term
SOFR
+
3.26%,
0.00%
Floor)
(a)
...................
6.93%
7/15/2030
1,001,323
2,000,000
Series
2014-1A-CR
(3
mo.
Term
SOFR
+
3.01%,
2.75%
Floor)
(a)
...................
6.68%
1/30/2031
2,005,878
1,000,000
Series
2022-1A-D
(3
mo.
Term
SOFR
+
3.20%,
3.20%
Floor)
(a)
.....................
6.88%
4/15/2035
981,615
Captree
Park
CLO
Ltd.
10,000,000
Series
2024-1A-A1R
(3
mo.
Term
SOFR
+
1.20%,
1.20%
Floor)
(a)
...................
4.88%
7/20/2037
10,000,000
Carlyle
Global
Market
Strategies
500,000
Series
2020-2A-CR2
(3
mo.
Term
SOFR
+
2.90%,
2.90%
Floor)
(a)
...................
6.57%
1/25/2035
492,256
5,000,000
Series
2021-8A-A1R
(3
mo.
Term
SOFR
+
1.27%,
1.27%
Floor)
(a)
...................
4.94%
10/15/2038
5,009,991
3,000,000
Series
2022-6A-A1R2
(3
mo.
Term
SOFR
+
1.23%,
1.23%
Floor)
(a)
..................
4.90%
10/25/2038
3,004,169
2,000,000
Series
2023-3A-A1R
(3
mo.
Term
SOFR
+
1.23%,
1.23%
Floor)
(a)
...................
4.90%
10/15/2038
2,002,785
500,000
Series
2024-4A-D
(3
mo.
Term
SOFR
+
3.20%,
3.20%
Floor)
(a)
.....................
6.88%
7/20/2037
500,823
Cathedral
Lake
CLO
Ltd.
3,500,000
Series
2021-8A-D1
(3
mo.
Term
SOFR
+
3.68%,
3.42%
Floor)
(a)
....................
7.36%
1/20/2035
3,466,009
Cent
CLO
500,000
Series
2018-27A-DR
(3
mo.
Term
SOFR
+
4.09%,
3.83%
Floor)
(a)
...................
7.76%
1/25/2035
494,867
3,500,000
Series
2021-31A-A1R
(3
mo.
Term
SOFR
+
1.10%,
1.10%
Floor)
(a)
..................
4.78%
4/20/2034
3,502,073
CIFC
Funding
Ltd.
1,000,000
Series
2019-3A-D1R2
(3
mo.
Term
SOFR
+
2.75%,
2.75%
Floor)
(a)
..................
6.43%
1/16/2038
1,004,787
Clover
CLO
2,000,000
Series
2018-1A-A1R3
(3
mo.
Term
SOFR
+
1.31%,
1.31%
Floor)
(a)
..................
4.97%
4/20/2037
2,004,043
Crown
City
CLO
4,000,000
Series
2024-6A-D1
(3
mo.
Term
SOFR
+
3.50%,
3.50%
Floor)
(a)
....................
7.17%
7/15/2037
3,990,978
Dryden
Senior
Loan
Fund
3,000,000
Series
2015-37A-DR
(3
mo.
Term
SOFR
+
2.76%,
2.50%
Floor)
(a)
...................
6.43%
1/15/2031
3,004,738
1,000,000
Series
2019-68A-DR
(3
mo.
Term
SOFR
+
3.61%,
3.35%
Floor)
(a)
...................
7.28%
7/15/2035
973,981
Eldridge
CLO
Ltd.
500,000
Series
2025-1A-A1
(3
mo.
Term
SOFR
+
1.33%,
1.33%
Floor)
(a)
....................
5.01%
10/20/2038
500,998
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
11
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Empower
CLO
Ltd.
3,000,000
Series
2023-2A-AR
(3
mo.
Term
SOFR
+
1.32%,
1.32%
Floor)
(a)
....................
4.99%
10/15/2038
3,007,196
GCM
CLO
Ltd.
5,000,000
Series
2026-1A-A1
(3
mo.
Term
SOFR
+
1.32%,
1.32%
Floor)
(a)
....................
5.02%
7/20/2039
5,009,938
Goldentree
Loan
Opportunities
Ltd.
1,000,000
Series
2024-21A-DR
(3
mo.
Term
SOFR
+
2.60%,
2.60%
Floor)
(a)
...................
6.24%
10/20/2039
1,000,000
4,000,000
Series
2026-28A-A
(3
mo.
Term
SOFR
+
1.17%,
1.17%
Floor)
(a)
....................
4.84%
10/20/2039
4,002,444
Halcyon
Loan
Advisors
Funding
Ltd.
245,720
Series
2014-2A-D
(3
mo.
Term
SOFR
+
5.26%,
0.00%
Floor)
(a)(g)
...................
8.93%
4/28/2025
23,580
ICG
US
CLO
Ltd.
2,500,000
Series
2023-1A-AR
(3
mo.
Term
SOFR
+
1.38%,
1.38%
Floor)
(a)
....................
5.06%
7/18/2038
2,506,553
Invesco
CLO
Ltd.
850,000
Series
2021-3A-DR
(3
mo.
Term
SOFR
+
3.10%,
3.10%
Floor)
(a)
...................
6.76%
10/22/2034
835,679
2,000,000
Series
2024-3A-AR
(3
mo.
Term
SOFR
+
1.21%,
1.21%
Floor)
(a)
....................
4.83%
7/20/2037
2,000,794
Kennedy
Lewis
CLO
Ltd.
2,000,000
Series
2023-12A-AR
(3
mo.
Term
SOFR
+
1.33%,
1.33%
Floor)
(a)
...................
5.01%
7/20/2038
2,004,825
LCM
LP
873,492
Series
14A-DR
(3
mo.
Term
SOFR
+
3.01%,
0.00%
Floor)
(a)
.......................
6.69%
7/20/2031
873,806
5,000,000
Series
26A-D
(3
mo.
Term
SOFR
+
2.76%,
2.50%
Floor)
(a)
........................
6.44%
1/20/2031
5,009,638
1,500,000
Series
27A-D
(3
mo.
Term
SOFR
+
3.21%,
0.00%
Floor)
(a)
........................
6.89%
7/16/2031
1,506,408
Lodi
Park
CLO
Ltd.
500,000
Series
2024-1A-D1
(3
mo.
Term
SOFR
+
3.00%,
3.00%
Floor)
(a)
....................
6.67%
7/21/2037
500,604
Madison
Park
Funding
Ltd.
2,000,000
Series
2024-69A-A1R
(3
mo.
Term
SOFR
+
1.20%,
1.20%
Floor)
(a)
..................
4.84%
7/25/2037
2,000,648
Magnetite
CLO
Ltd.
3,000,000
Series
2019-23A-AR2
(3
mo.
Term
SOFR
+
0.99%,
0.99%
Floor)
(a)
..................
4.66%
1/25/2035
3,000,709
1,750,000
Series
2019-23A-DR2
(3
mo.
Term
SOFR
+
2.25%,
2.25%
Floor)
(a)
..................
5.92%
1/25/2035
1,719,929
Marble
Point
CLO
5,000,000
Series
2020-3A-AR2
(3
mo.
Term
SOFR
+
1.30%,
1.30%
Floor)
(a)
...................
4.98%
10/19/2038
5,008,202
3,500,000
Series
2021-3A-D1R
(3
mo.
Term
SOFR
+
2.75%,
2.75%
Floor)
(a)
...................
6.43%
10/17/2034
3,495,710
Menlo
CLO
Ltd.
5,000,000
Series
2024-1A-A1
(3
mo.
Term
SOFR
+
1.42%,
1.42%
Floor)
(a)
....................
5.10%
1/20/2038
5,013,060
Milford
Park
CLO
Ltd.
5,000,000
Series
2022-1A-AR
(3
mo.
Term
SOFR
+
1.16%,
1.16%
Floor)
(a)
....................
4.84%
1/20/2038
5,000,094
Neuberger
Berman
CLO
Ltd.
1,000,000
Series
2021-44A-DR
(3
mo.
Term
SOFR
+
2.65%,
2.65%
Floor)
(a)
...................
6.33%
10/16/2035
984,918
OCP
CLO
Ltd.
5,000,000
Series
2020-20A-A1R2
(3
mo.
Term
SOFR
+
1.26%,
1.26%
Floor)
(a)
.................
4.94%
4/18/2037
5,005,959
2,250,000
Series
2021-21A-D1R
(3
mo.
Term
SOFR
+
2.65%,
2.65%
Floor)
(a)
..................
6.33%
1/20/2038
2,244,555
Octagon
Investment
Partners
Ltd.
500,000
Series
2019-1A-ER
(3
mo.
Term
SOFR
+
7.26%,
7.00%
Floor)
(a)
....................
10.94%
1/20/2035
416,323
1,000,000
Series
2022-1A-A1R
(3
mo.
Term
SOFR
+
1.26%,
1.26%
Floor)
(a)
...................
4.93%
7/21/2035
1,001,266
10,000,000
Series
2025-1A-A1
(3
mo.
Term
SOFR
+
1.20%,
1.20%
Floor)
(a)
....................
4.86%
1/22/2038
10,009,240
500,000
Series
2025-4A-D
(3
mo.
Term
SOFR
+
2.80%,
2.80%
Floor)
(a)
.....................
6.48%
10/20/2038
502,324
Palmer
Square
CLO
Ltd.
3,000,000
Series
2021-3A-A1R
(3
mo.
Term
SOFR
+
1.29%,
1.29%
Floor)
(a)
...................
4.96%
10/15/2038
3,006,737
Peace
Park
CLO
Ltd.
2,000,000
Series
2021-1A-AR
(3
mo.
Term
SOFR
+
1.25%,
1.25%
Floor)
(a)
....................
4.93%
10/20/2038
2,003,997
Peebles
Park
CLO
Ltd.
4,500,000
Series
2024-1A-AR
(3
mo.
Term
SOFR
+
1.22%,
1.22%
Floor)
(a)
....................
4.83%
4/21/2037
4,503,346
Rockland
Park
CLO
Ltd.
5,000,000
Series
2021-1A-A1R
(3
mo.
Term
SOFR
+
1.30%,
1.30%
Floor)
(a)
...................
4.98%
7/20/2038
5,011,270
Sound
Point
CLO
Ltd.
2,000,000
Series
2015-2A-DRRR
(3
mo.
Term
SOFR
+
4.76%,
4.50%
Floor)
(a)
.................
8.44%
7/20/2032
1,915,136
500,000
Series
2017-4A-C
(3
mo.
Term
SOFR
+
2.76%,
0.00%
Floor)
(a)
.....................
6.44%
1/21/2031
499,234
6,000,000
Series
2019-2A-DR
(3
mo.
Term
SOFR
+
3.56%,
3.30%
Floor)
(a)
...................
7.23%
7/15/2034
5,791,945
1,000,000
Series
2019-3A-DR
(3
mo.
Term
SOFR
+
3.76%,
3.76%
Floor)
(a)
...................
7.43%
10/25/2034
958,941
1,000,000
Series
2020-1A-DR
(3
mo.
Term
SOFR
+
3.61%,
3.61%
Floor)
(a)
...................
7.29%
7/20/2034
966,319
5,000,000
Series
2020-2A-DR
(3
mo.
Term
SOFR
+
3.61%,
3.35%
Floor)
(a)
...................
7.28%
10/25/2034
4,833,657
3,375,000
Series
2021-4A-D
(3
mo.
Term
SOFR
+
3.66%,
3.66%
Floor)
(a)
.....................
7.33%
10/25/2034
3,241,489
Storm
King
Park
CLO
Ltd.
4,000,000
Series
2022-1A-AR
(3
mo.
Term
SOFR
+
1.36%,
1.36%
Floor)
(a)
....................
5.03%
10/15/2037
4,008,994
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
12
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Symphony
CLO
Ltd.
1,500,000
Series
2015-16A-DR
(3
mo.
Term
SOFR
+
3.31%,
3.05%
Floor)
(a)
...................
6.98%
10/15/2031
1,499,562
Upland
CLO
500,000
Series
2016-1A-CR
(3
mo.
Term
SOFR
+
3.16%,
0.00%
Floor)
(a)
...................
6.84%
4/20/2031
502,360
Vibrant
CLO
Ltd.
29,751
Series
2015-3A-A2RR
(3
mo.
Term
SOFR
+
2.11%,
0.26%
Floor)
(a)
..................
5.79%
10/20/2031
29,771
2,000,000
Series
2024-4RA-A1A
(3
mo.
Term
SOFR
+
1.43%,
1.43%
Floor)
(a)
..................
5.11%
10/20/2037
2,005,096
Voya
CLO
Ltd.
3,900,000
Series
2013-1A-CR
(3
mo.
Term
SOFR
+
3.21%,
0.00%
Floor)
(a)
...................
6.88%
10/15/2030
3,912,599
1,200,000
Series
2021-1A-DR
(3
mo.
Term
SOFR
+
2.80%,
2.80%
Floor)
(a)
...................
6.47%
7/15/2034
1,180,763
Warwick
Capital
CLO
Ltd.
5,000,000
Series
2023-1A-AR
(3
mo.
Term
SOFR
+
1.28%,
1.28%
Floor)
(a)
....................
4.96%
10/20/2038
5,009,644
Wind
River
CLO
Ltd.
4,000,000
Series
2014-2A-DR
(3
mo.
Term
SOFR
+
3.16%,
2.90%
Floor)
(a)
...................
6.83%
1/15/2031
4,006,737
2,000,000
Series
2014-2A-ER
(3
mo.
Term
SOFR
+
6.01%,
5.75%
Floor)
(a)
....................
9.68%
1/15/2031
1,760,678
1,500,000
Series
2014-3A-DR2
(3
mo.
Term
SOFR
+
3.66%,
3.40%
Floor)
(a)
...................
7.33%
10/22/2031
1,504,217
1,000,000
Series
2021-3A-D1AR
(3
mo.
Term
SOFR
+
3.00%,
3.00%
Floor)
(a)
..................
6.68%
4/20/2038
1,002,618
1,000,000
Series
2021-4A-D
(3
mo.
Term
SOFR
+
3.46%,
3.20%
Floor)
(a)
.....................
7.14%
1/20/2035
964,305
Total
Collateralized
Loan
Obligations
(Cost
$206,686,682)
205,546,323
FOREIGN
CORPORATE
BONDS
-
4.2%
928,001
Acu
Petroleo
Luxembourg
Sarl
...........................................
7.50%
1/13/2032
955,798
649,000
Adani
Electricity
Mumbai
Ltd.
............................................
3.95%
2/12/2030
610,240
400,000
Adani
Electricity
Mumbai
Ltd.
............................................
3.87%
7/22/2031
366,563
1,372,400
Adani
International
Container
Terminal
Pvt
Ltd.
................................
3.00%
2/16/2031
1,274,371
200,000
Adani
Ports
&
Special
Economic
Zone
Ltd.
...................................
4.38%
7/3/2029
194,387
700,000
Adani
Ports
&
Special
Economic
Zone
Ltd.
...................................
3.10%
2/2/2031
631,312
450,000
Adani
Ports
&
Special
Economic
Zone
Ltd.
...................................
5.00%
8/2/2041
396,425
565,250
Adani
Renewable
Energy
RJ
Ltd./Kodangal
Solar
Parks
Pvt
Ltd./Wardha
Solar
Maharash
..
4.63%
10/15/2039
480,723
762,000
Adani
Transmission
Step-One
Ltd.
........................................
4.25%
5/21/2036
690,561
400,000
AES
Espana
BV
.....................................................
5.70%
5/4/2028
391,290
200,000
Agrosuper
SA
.......................................................
4.60%
1/20/2032
190,167
500,000
AL
Candelaria
Spain
SA
(a)
..............................................
5.75%
6/15/2033
463,347
1,250,000
AL
Candelaria
Spain
SA
...............................................
5.75%
6/15/2033
1,158,369
569,308
Altice
France
SA
(a)
....................................................
6.88%
7/15/2032
552,710
215,000
Ardonagh
Finco
Ltd.
(a)
.................................................
7.75%
2/15/2031
217,572
400,000
Aris
Mining
Corp.
(a)
...................................................
8.00%
10/31/2029
414,756
400,000
Banco
BBVA
Peru
SA
(5
yr.
CMT
Rate
+
2.00%)
...............................
6.20%
6/7/2034
409,570
400,000
Banco
Davivienda
SA
(10
yr.
CMT
Rate
+
5.10%)
(a)(h)
............................
6.65%
4/22/2031
369,811
200,000
Banco
Davivienda
SA
(10
yr.
CMT
Rate
+
5.10%)
(h)
.............................
6.65%
4/22/2031
184,906
600,000
Banco
Davivienda
SA
(5
yr.
CMT
Rate
+
4.59%)
(a)
..............................
8.13%
7/2/2035
622,500
300,000
Banco
Davivienda
SA
(5
yr.
CMT
Rate
+
4.59%)
...............................
8.13%
7/2/2035
311,250
1,900,000
Banco
de
Credito
del
Peru
SA
(5
yr.
CMT
Rate
+
2.45%)
.........................
3.25%
9/30/2031
1,890,128
400,000
Banco
Internacional
del
Peru
SAA
Interbank
(a)
................................
4.80%
7/15/2031
393,144
1,100,000
Banco
Internacional
del
Peru
SAA
Interbank
(5
yr.
CMT
Rate
+
2.07%)
...............
6.40%
4/30/2035
1,133,385
400,000
Banco
Internacional
del
Peru
SAA
Interbank
(5
yr.
CMT
Rate
+
2.07%)
(a)
..............
6.40%
4/30/2035
412,140
400,000
Banco
Mercantil
del
Norte
SA/Grand
Cayman
(10
yr.
CMT
Rate
+
5.35%)
(h)
............
7.63%
1/10/2028
401,813
400,000
Banco
Mercantil
del
Norte
SA/Grand
Cayman
(10
yr.
CMT
Rate
+
5.47%)
(h)
............
7.50%
6/27/2029
397,163
700,000
Banco
Mercantil
del
Norte
SA/Grand
Cayman
(5
yr.
CMT
Rate
+
4.07%)
(a)(h)
............
8.38%
5/20/2031
717,675
1,500,000
Banco
Nacional
de
Mexico
SA
(5
yr.
CMT
Rate
+
2.68%)
(a)
........................
6.70%
8/7/2036
1,479,225
800,000
Banco
Santander
Chile
(a)
...............................................
4.55%
11/20/2030
789,000
60,000
Bausch
Health
Cos.,
Inc.
(a)
..............................................
5.25%
1/30/2030
38,445
15,000
Bausch
Health
Cos.,
Inc.
(a)
..............................................
14.00%
10/15/2030
14,177
400,000
BBVA
Mexico
SA
Institucion
De
Banca
Multiple
Grupo
Financiero
BBVA
Mexico
(5
yr.
CMT
Rate
+
2.65%)
..................................................
5.13%
1/18/2033
392,460
400,000
BBVA
Mexico
SA
Institucion
De
Banca
Multiple
Grupo
Financiero
BBVA
Mexico
(5
yr.
CMT
Rate
+
4.31%)
..................................................
5.88%
9/13/2034
393,968
1,100,000
BBVA
Mexico
SA
Institucion
De
Banca
Multiple
Grupo
Financiero
BBVA
Mexico
(5
yr.
CMT
Rate
+
4.21%)
..................................................
8.13%
1/8/2039
1,173,850
530,000
Belron
UK
Finance
PLC
(a)
..............................................
5.75%
10/15/2029
532,794
396,536
Buffalo
Energy
Mexico
Holdings
/
Buffalo
Energy
Infrastructure
/
Buffalo
Energy
.........
7.88%
2/15/2039
418,912
600,000
CAP
SA
(a)
..........................................................
3.90%
4/27/2031
508,925
900,000
CAP
SA
...........................................................
3.90%
4/27/2031
763,387
200,000
Cemex
SAB
de
CV
(5
yr.
CMT
Rate
+
3.52%)
(a)(h)
..............................
7.20%
6/10/2030
208,330
200,000
Cemex
SAB
de
CV
(5
yr.
CMT
Rate
+
3.52%)
(h)
...............................
7.20%
6/10/2030
208,330
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
13
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
936,436
Chile
Electricity
PEC
SpA
(a)
.............................................
0.00%
1/25/2028
864,799
288,800
Cometa
Energia
SA
de
CV
..............................................
6.38%
4/24/2035
298,430
1,400,000
Cosan
Overseas
Ltd.
(h)
................................................
8.25%
8/5/2026
1,387,400
1,100,000
CSN
Resources
SA
...................................................
5.88%
4/8/2032
679,255
633,000
CT
Trust
..........................................................
5.13%
2/3/2032
601,894
230,000
Danaos
Corp.
(a)
......................................................
6.88%
10/15/2032
237,826
339,480
Digicel
Group
Holdings
Ltd.
(a)(d)(e)
..........................................
0.00%
12/31/2030
2,432
165,105
Digicel
Group
Holdings
Ltd.
(a)(d)(e)
..........................................
0.00%
12/31/2030
8,302
234,450
Empresa
Electrica
Angamos
SA
..........................................
4.88%
5/25/2029
215,898
800,000
Empresas
Publicas
de
Medellin
ESP
.......................................
4.38%
2/15/2031
728,956
550,000
Esentia
Energy
Development
SAB
de
CV
(a)
..................................
6.13%
7/30/2033
549,065
500,000
Esentia
Energy
Development
SAB
de
CV
(a)
..................................
6.50%
7/30/2038
491,650
298,040
Fideicomiso
PA
Pacifico
Tres
............................................
8.25%
1/15/2035
305,074
900,000
Freeport
Indonesia
PT
.................................................
4.76%
4/14/2027
904,096
400,000
Frontera
Energy
Corp.
.................................................
7.88%
6/21/2028
398,818
350,000
FS
Luxembourg
Sarl
(a)
.................................................
8.13%
2/11/2036
317,896
265,000
Garda
World
Security
Corp.
(a)
............................................
6.50%
1/15/2031
268,867
285,000
Garda
World
Security
Corp.
(a)
............................................
8.25%
8/1/2032
291,907
850,000
Generadora
de
Gatun
SA
(a)
.............................................
6.87%
9/30/2044
878,508
200,000
Genmab
AS
/
Genmab
Finance
LLC
(a)
......................................
6.25%
12/15/2032
203,933
220,000
GGAM
Finance
Ltd.
(a)
.................................................
6.88%
4/15/2029
225,347
825,000
Global
Aircraft
Leasing
Co.
Ltd.
(a)
.........................................
8.75%
9/1/2027
839,518
206,000
GNL
Quintero
SA
....................................................
4.63%
7/31/2029
205,701
700,000
Gold
Fields
Orogen
Holdings
BVI
Ltd.
......................................
6.13%
5/15/2029
714,637
250,000
Grifols
SA
(a)
........................................................
4.75%
10/15/2028
245,162
140,816
Guara
Norte
Sarl
....................................................
5.20%
6/15/2034
136,206
600,000
Indofood
CBP
Sukses
Makmur
Tbk
........................................
3.40%
6/9/2031
549,265
200,000
Industrial
Subordinated
Trust
II
(5
yr.
CMT
Rate
+
2.86%)
(a)
.......................
6.55%
4/15/2036
203,228
750,000
Industrial
Subordinated
Trust
II
(5
yr.
CMT
Rate
+
2.86%)
........................
6.55%
4/15/2036
762,105
550,000
Industrias
Penoles
SAB
de
CV
...........................................
4.75%
8/6/2050
452,169
900,000
InRetail
Consumer
...................................................
3.25%
3/22/2028
867,891
600,000
Intercorp
Financial
Services,
Inc.
.........................................
4.13%
10/19/2027
594,817
500,000
Inversiones
CMPC
SA
(5
yr.
CMT
Rate
+
2.83%)
..............................
6.70%
12/9/2057
492,575
200,000
Inversiones
CMPC
SA
(5
yr.
CMT
Rate
+
2.83%)
(a)
.............................
6.70%
12/9/2057
197,030
400,000
J&F
Luxembourg
Finance
Sarl
(a)
..........................................
8.50%
12/1/2032
399,000
1,524,375
JSW
Hydro
Energy
Ltd.
................................................
4.13%
5/18/2031
1,413,663
1,000,000
JSW
Infrastructure
Ltd.
................................................
4.95%
1/21/2029
990,688
437,970
LLPL
Capital
Pte
Ltd.
..................................................
6.88%
2/4/2039
445,177
1,000,000
MARB
BondCo
PLC
..................................................
3.95%
1/29/2031
877,557
200,000
Marcobre
SAC
(a)
.....................................................
5.75%
1/22/2036
198,150
200,000
Marcobre
SAC
......................................................
5.75%
1/22/2036
198,150
245,000
Mattamy
Group
Corp.
(a)
................................................
4.63%
3/1/2030
235,326
200,000
Medco
Laurel
Tree
Pte
Ltd.
.............................................
6.95%
11/12/2028
200,562
335,000
Merlin
Entertainments
Group
US
Holdings,
Inc.
(a)
..............................
7.38%
2/15/2031
282,915
600,000
Mexarrend
SAPI
de
CV
(a)(e)(g)
.............................................
10.25%
7/24/2024
3,600
537,742
Mexico
Generadora
de
Energia
S
de
RL
....................................
5.50%
12/6/2032
536,587
180,000
Millicom
International
Cellular
SA
.........................................
5.13%
1/15/2028
179,007
1,170,000
Millicom
International
Cellular
SA
.........................................
6.25%
3/25/2029
1,175,529
700,000
Minejesa
Capital
BV
..................................................
5.63%
8/10/2037
668,990
600,000
Minerva
Luxembourg
SA
...............................................
8.88%
9/13/2033
621,307
1,600,000
Minsur
SA
.........................................................
4.50%
10/28/2031
1,534,818
809,490
Mong
Duong
Finance
Holdings
BV
........................................
5.13%
5/7/2029
799,731
1,142,570
MV24
Capital
BV
....................................................
6.75%
6/1/2034
1,137,823
300,000
Nexa
Resources
SA
..................................................
6.50%
1/18/2028
304,343
450,000
Nexa
Resources
SA
..................................................
6.60%
4/8/2037
469,759
250,000
Nissan
Motor
Co.
Ltd.
(a)
................................................
4.35%
9/17/2027
246,089
235,000
Ontario
Gaming
GTA
LP/OTG
Co.-Issuer,
Inc.
(a)
...............................
8.00%
8/1/2030
233,016
510,000
Opal
Bidco
SAS
(a)
....................................................
6.50%
3/31/2032
520,557
600,000
Orbia
Advance
Corp.
SAB
de
CV
.........................................
5.88%
9/17/2044
475,512
1,400,000
Oversea-Chinese
Banking
Corp.
Ltd.
(5
yr.
CMT
Rate
+
1.58%)
....................
4.60%
6/15/2032
1,398,949
600,000
Oversea-Chinese
Banking
Corp.
Ltd.
(5
yr.
CMT
Rate
+
0.80%)
....................
4.55%
9/8/2035
590,181
450,000
Pampa
Energia
SA
(a)
..................................................
7.75%
11/14/2037
461,070
200,000
Parex
Resources,
Inc.
(a)
................................................
8.50%
5/11/2031
203,300
1,000,200
Peru
LNG
Srl
.......................................................
5.38%
3/22/2030
973,442
1,238,294
Prumo
Participacoes
e
Investimentos
S/A
...................................
7.50%
12/31/2031
1,263,463
500,000
Reliance
Industries
Ltd.
................................................
3.67%
11/30/2027
492,419
1,120,000
Rutas
2
&
7
Finance
Ltd.
...............................................
0.00%
9/30/2036
860,160
200,000
Saavi
Energia
Sarl
...................................................
8.88%
2/10/2035
219,050
200,000
Saavi
Energia
Sarl
(a)
..................................................
8.88%
2/10/2035
219,050
200,000
Sasol
Financing
USA
LLC
..............................................
5.50%
3/18/2031
186,399
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
14
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
200,000
Scotiabank
Peru
SAA
(1
yr.
CMT
Rate
+
2.31%)
(a)
..............................
6.10%
10/1/2035
204,871
610,000
Seaspan
Corp.
(a)
.....................................................
5.50%
8/1/2029
598,943
600,000
Simpar
Europe
SA
...................................................
5.20%
1/26/2031
502,782
300,000
Southern
Copper
Corp.
................................................
5.25%
11/8/2042
282,973
843,500
Star
Energy
Geothermal
Wayang
Windu
Ltd.
.................................
6.75%
4/24/2033
853,622
200,000
Termocandelaria
Power
SA
(a)
............................................
7.75%
9/17/2031
205,239
200,000
Termocandelaria
Power
SA
.............................................
7.75%
9/17/2031
205,239
735,885
Tierra
Mojada
Luxembourg
II
Sarl
.........................................
5.75%
12/1/2040
707,775
159,000
Trivium
Packaging
Finance
BV
(a)
..........................................
8.25%
7/15/2030
168,099
62,116
Unigel
Luxembourg
SA
(13.50%
Cash
or
15.00%
PIK)
(e)
.........................
13.50%
12/31/2027
3,727
44,227
Unigel
Luxembourg
SA
(13.50%
Cash
or
15.00%
PIK)
(a)(e)
........................
13.50%
12/31/2027
2,654
228,919
Unigel
Luxembourg
SA
(11.00%
Cash
or
12.00%
PIK)
(e)
.........................
11.00%
12/31/2028
6,868
53,234
Unigel
Luxembourg
SA
(11.00%
Cash
or
12.00%
PIK)
(a)(e)
........................
11.00%
12/31/2028
1,597
299,050
Unigel
Netherlands
Holding
Corp.
BV
(15.00%
Cash
or
15.00%
PIK)
(e)
...............
15.00%
12/31/2044
5,981
900,000
United
Overseas
Bank
Ltd.
(5
yr.
CMT
Rate
+
1.23%)
...........................
2.00%
10/14/2031
893,181
500,000
United
Overseas
Bank
Ltd.
(5
yr.
CMT
Rate
+
1.45%)
...........................
3.86%
10/7/2032
494,782
650,000
Vale
Overseas
Ltd.
(5
yr.
CMT
Rate
+
2.43%)
.................................
6.00%
2/25/2056
650,975
500,000
Vamos
Europe
SA
(a)
..................................................
9.20%
1/26/2031
476,850
700,000
Vedanta
Resources
Finance
II
PLC
(a)
.......................................
7.00%
7/13/2032
696,527
450,000
Vista
Energy
Argentina
SAU
(a)
...........................................
7.88%
4/8/2038
464,400
600,000
Volcan
Cia
Minera
SAA
(a)
...............................................
8.50%
10/28/2032
621,870
690,690
Yinson
Bergenia
Production
BV
..........................................
8.50%
1/31/2045
738,348
296,010
Yinson
Bergenia
Production
BV
(a)
.........................................
8.50%
1/31/2045
316,435
Total
Foreign
Corporate
Bonds
(Cost
$70,037,304)
69,393,613
FOREIGN
GOVERNMENT
BONDS,
FOREIGN
AGENCIES
AND
FOREIGN
GOVERNMENT
SPONSORED
CORPORATIONS
-
1.7%
1,319,949
Bioceanico
Sovereign
Certificate
Ltd.
......................................
0.00%
6/5/2034
1,083,177
1,200,000
BPRL
International
Singapore
Pte
Ltd.
......................................
4.38%
1/18/2027
1,197,080
850,000
Brazilian
Government
International
Bond
....................................
5.00%
1/27/2045
680,850
1,350,000
Brazilian
Government
International
Bond
....................................
4.75%
1/14/2050
1,001,700
776,697
Chile
Electricity
Lux
Mpc
II
Sarl
...........................................
5.67%
10/20/2035
794,320
388,348
Chile
Electricity
Lux
Mpc
II
Sarl
(a)
.........................................
5.67%
10/20/2035
397,160
688,000
Chile
Electricity
Lux
Mpc
Sarl
............................................
6.01%
1/20/2033
710,147
600,000
Chile
Government
International
Bond
......................................
3.10%
5/7/2041
460,650
1,400,000
Colombia
Government
International
Bond
...................................
4.13%
5/15/2051
960,750
200,000
Comision
Federal
de
Electricidad
(a)
........................................
6.45%
1/24/2035
200,229
400,000
Comision
Federal
de
Electricidad
.........................................
6.45%
1/24/2035
400,457
950,000
Corp.
Nacional
del
Cobre
de
Chile
........................................
3.00%
9/30/2029
895,582
500,000
Costa
Rica
Government
International
Bond
..................................
5.63%
4/30/2043
484,870
450,000
Dominican
Republic
International
Bond
.....................................
4.50%
1/30/2030
434,970
600,000
Dominican
Republic
International
Bond
.....................................
5.75%
3/17/2034
592,680
150,000
Dominican
Republic
International
Bond
(a)
....................................
5.75%
3/17/2034
148,170
450,000
Dominican
Republic
International
Bond
.....................................
6.15%
5/17/2038
447,907
900,000
Ecopetrol
SA
.......................................................
5.88%
11/2/2051
722,044
198,101
FIEMEX
Energia
-
Banco
Actinver
SA
Institucion
de
Banca
Multiple
.................
7.25%
1/31/2041
201,321
693,355
FIEMEX
Energia
-
Banco
Actinver
SA
Institucion
de
Banca
Multiple
(a)
................
7.25%
1/31/2041
704,622
150,000
Fondo
MIVIVIENDA
SA
................................................
5.40%
3/31/2031
151,312
300,000
Fondo
MIVIVIENDA
SA
(a)
...............................................
5.40%
3/31/2031
302,625
500,000
Guatemala
Government
Bond
...........................................
5.38%
4/24/2032
502,351
950,000
Guatemala
Government
Bond
...........................................
4.65%
10/7/2041
832,300
1,050,000
Hungary
Government
International
Bond
....................................
5.50%
3/26/2036
1,055,704
509,969
Lima
Metro
Line
2
Finance
Ltd.
...........................................
5.88%
7/5/2034
521,478
956,343
Lima
Metro
Line
2
Finance
Ltd.
...........................................
4.35%
4/5/2036
910,598
500,000
Mexico
City
Airport
Trust
...............................................
3.88%
4/30/2028
487,963
1,150,000
Mexico
Government
International
Bond
.....................................
4.40%
2/12/2052
825,987
700,000
Mexico
Government
International
Bond
.....................................
6.34%
5/4/2053
657,475
200,000
MISC
Capital
Two
Labuan
Ltd.
...........................................
3.75%
4/6/2027
198,506
1,000,000
Morocco
Government
International
Bond
....................................
3.00%
12/15/2032
879,066
400,000
Morocco
Government
International
Bond
....................................
4.00%
12/15/2050
289,010
600,000
Nigeria
Government
International
Bond
.....................................
7.70%
2/23/2038
613,552
1,000,000
OCP
SA
...........................................................
6.75%
5/2/2034
1,051,151
500,000
Panama
Government
International
Bond
....................................
5.66%
2/23/2038
499,500
200,000
Pertamina
Persero
PT
.................................................
2.30%
2/9/2031
176,206
500,000
Pertamina
Persero
PT
.................................................
5.63%
5/20/2043
468,221
400,000
Perusahaan
Perseroan
Persero
PT
Perusahaan
Listrik
Negara
....................
3.88%
7/17/2029
385,999
500,000
Perusahaan
Perseroan
Persero
PT
Perusahaan
Listrik
Negara
....................
5.25%
10/24/2042
445,618
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
15
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
750,000
Peruvian
Government
International
Bond
....................................
5.50%
3/30/2036
758,362
450,000
Petronas
Capital
Ltd.
..................................................
5.34%
4/3/2035
461,419
750,000
Republic
of
Poland
Government
International
Bond
.............................
5.38%
4/14/2036
757,113
1,100,000
Republic
of
South
Africa
Government
International
Bond
.........................
6.13%
12/11/2037
1,082,791
700,000
Saudi
Government
International
Bond
......................................
4.63%
10/4/2047
591,394
400,000
Trinidad
&
Tobago
Government
International
Bond
(a)
............................
6.50%
1/28/2036
412,940
200,000
Trinidad
&
Tobago
Government
International
Bond
.............................
6.50%
1/28/2036
206,470
295,000
YPF
SA
(i)
..........................................................
7.00%
9/30/2033
301,149
Total
Foreign
Government
Bonds,
Foreign
Agencies
and
Foreign
Government
Sponsored
Corporations
(Cost
$28,656,238)
28,344,946
NON-AGENCY
COMMERCIAL
MORTGAGE
BACKED
OBLIGATIONS
-
12.6%
1345
Trust
1,050,000
Series
2025-AOA-A
(1
mo.
Term
SOFR
+
1.60%,
1.60%
Floor)
(a)
...................
5.23%
6/15/2042
1,052,127
Acore
Issuer
LLC
2,860,000
Series
2026-FL1-C
(1
mo.
Term
SOFR
+
2.10%,
2.10%
Floor)
(a)
....................
5.74%
8/20/2043
2,867,136
ACREC
Trust
2,520,000
Series
2026-FL4-C
(1
mo.
Term
SOFR
+
2.00%,
2.00%
Floor)
(a)
....................
5.64%
1/18/2043
2,518,654
Arbor
Realty
Trust,
Inc.
14,713,680
Series
2020-MF1-XA
(a)(b)(c)
..............................................
1.04%
5/15/2053
414,258
10,194,000
Series
2021-MF3-XD
(a)(b)(c)
..............................................
1.28%
10/15/2054
546,617
ARDN
Mortgage
Trust
1,060,000
Series
2025-ARCP-E
(1
mo.
Term
SOFR
+
4.50%,
4.50%
Floor)
(a)
..................
8.13%
6/15/2035
1,063,041
AREIT
Trust
1,690,000
Series
2025-CRE10-D
(1
mo.
Term
SOFR
+
2.79%,
2.79%
Floor)
(a)
.................
6.43%
1/17/2030
1,682,397
2,160,000
Series
2025-CRE11-C
(1
mo.
Term
SOFR
+
2.25%,
2.25%
Floor)
(a)
..................
5.89%
7/25/2043
2,162,722
Atrium
Hotel
Portfolio
Trust
326,766
Series
2017-ATRM-A
(1
mo.
Term
SOFR
+
1.23%,
0.93%
Floor)
(a)
..................
4.85%
12/15/2036
325,392
BANK
8,209,576
Series
2017-BNK5-XA
(b)(c)
..............................................
1.07%
6/15/2060
49,069
56,309,470
Series
2018-BN11-XA
(b)(c)
...............................................
0.59%
3/15/2061
410,930
BANK5
Trust
518,000
Series
2025-5YR15-C
(c)
................................................
5.81%
7/15/2058
514,662
760,000
Series
2025-5YR15-D
(a)
................................................
4.00%
7/15/2058
666,900
12,983,300
Series
2025-5YR15-XA
(b)(c)
..............................................
1.44%
7/15/2058
561,624
25,137,275
Series
2025-5YR16-XA
(b)(c)
..............................................
1.28%
8/15/2063
980,293
288,000
Series
2025-5YR17-C
(c)
................................................
5.89%
11/15/2058
287,597
45,845,369
Series
2025-5YR17-XA
(b)(c)
..............................................
1.40%
11/15/2058
2,000,082
2,631,000
Series
2025-5YR19-C
(c)
................................................
5.72%
12/15/2058
2,599,178
35,010,212
Series
2026-5YR20-XA
(b)(c)
..............................................
1.52%
2/15/2059
1,824,949
35,648,204
Series
2026-5YR21-XA
(b)(c)
..............................................
0.99%
4/15/2059
1,190,443
60,409,000
Series
2026-5YR23-XA
(b)(c)
..............................................
1.30%
7/15/2031
2,913,526
Barclays
Commercial
Mortgage
Trust
1,675,000
Series
2019-BWAY-E
(1
mo.
Term
SOFR
+
2.96%,
2.85%
Floor)
(a)
..................
6.59%
11/15/2034
10,862
809,000
Series
2023-C19-B
(c)
..................................................
6.56%
4/15/2056
792,864
1,104,000
Series
2024-5C29-C
..................................................
5.51%
9/15/2057
1,078,877
2,688,000
Series
2025-5C34-C
(c)
.................................................
7.03%
5/15/2058
2,766,174
21,348,864
Series
2025-5C36-XA
(b)(c)
...............................................
1.29%
8/15/2058
820,014
25,800,069
Series
2025-5C37-XA
(b)(c)
...............................................
1.88%
9/15/2058
1,521,660
2,610,000
Series
2025-5C38-B
(c)
.................................................
5.72%
11/15/2058
2,626,747
13,773,000
Series
2025-C32-XD
(a)(b)(c)
..............................................
2.54%
2/15/2062
2,137,535
1,915,000
Series
2026-5C40-D
(a)
.................................................
4.25%
2/15/2059
1,621,490
BDS
Ltd.
1,650,000
Series
2024-FL13-B
(1
mo.
Term
SOFR
+
2.24%,
2.24%
Floor)
(a)
...................
5.88%
9/19/2039
1,655,016
655,000
Series
2025-FL15-C
(1
mo.
Term
SOFR
+
2.15%,
2.15%
Floor)
(a)
...................
5.79%
3/19/2043
655,432
2,250,000
Series
2025-FL15-D
(1
mo.
Term
SOFR
+
2.40%,
2.40%
Floor)
(a)
...................
6.04%
3/19/2043
2,253,724
3,040,000
Series
2025-FL16-C
(1
mo.
Term
SOFR
+
2.10%,
2.10%
Floor)
(a)
...................
5.74%
6/19/2043
3,036,142
Benchmark
Mortgage
Trust
5,528
Series
2020-B19-A2
..................................................
1.69%
9/15/2053
5,515
5,639,668
Series
2020-B22-XA
(b)(c)
................................................
1.60%
1/15/2054
299,522
56,087,731
Series
2022-B32-XA
(a)(b)(c)
...............................................
0.56%
1/15/2055
596,616
1,627,000
Series
2024-V9-C
(c)
...................................................
6.45%
8/15/2057
1,635,849
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
16
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
220,000
Series
2025-V15-C
...................................................
6.27%
6/15/2058
220,862
4,660,320
Series
2025-V15-XA
(b)(c)
................................................
1.35%
6/15/2058
179,793
850,000
Series
2025-V16-AS
(c)
.................................................
5.86%
8/15/2058
867,014
2,622,000
Series
2025-V16-C
(c)
..................................................
5.95%
8/15/2058
2,620,830
29,943,219
Series
2025-V16-XA
(b)(c)
................................................
1.17%
8/15/2058
1,017,132
23,890,000
Series
2025-V17-XA
(b)(c)
................................................
1.73%
9/15/2058
1,311,253
319,000
Series
2025-V19-C
(c)
..................................................
5.75%
1/15/2058
315,568
10,738,000
Series
2026-V21-XD
(a)(b)(c)
...............................................
2.25%
3/15/2059
959,870
Blackstone
Mortgage
Trust,
Inc.
339,790
Series
2021-FL4-A
(1
mo.
Term
SOFR
+
1.41%,
1.30%
Floor)
(a)
....................
5.05%
5/15/2038
340,043
BLP
Commercial
Mortgage
Trust
570,763
Series
2024-IND2-D
(1
mo.
Term
SOFR
+
2.59%,
2.59%
Floor)
(a)
...................
6.22%
3/15/2041
572,646
BMO
Mortgage
Trust
1,700,000
Series
2024-5C6-C
(c)
..................................................
5.88%
9/15/2057
1,671,546
3,457,000
Series
2024-C10-XD
(a)(b)(c)
..............................................
1.80%
11/15/2057
376,374
1,125,000
Series
2025-5C10-C
(c)
.................................................
6.49%
5/15/2058
1,140,907
268,000
Series
2025-5C13-C
(c)
.................................................
5.88%
12/15/2058
262,654
52,129,302
Series
2025-5C13-XA
(b)(c)
...............................................
1.41%
12/15/2058
2,384,467
BOS
Trust
1,030,000
Series
2026-LYRK-A
(a)(c)
................................................
5.22%
5/11/2041
1,027,504
Bridge
Commercial
Mortgage
Trust
1,720,000
Series
2026-MF-C
(1
mo.
Term
SOFR
+
1.85%,
1.85%
Floor)
(a)
....................
5.45%
6/15/2039
1,729,568
BrightSpire
Capital,
Inc.
2,540,000
Series
2026-FL3-D
(1
mo.
Term
SOFR
+
2.85%,
2.85%
Floor)
(a)
....................
6.49%
8/19/2043
2,549,350
BSPRT
Co-Issuer
LLC
324,943
Series
2023-FL10-A
(1
mo.
Term
SOFR
+
2.26%,
2.26%
Floor)
(a)
...................
5.88%
9/15/2035
325,471
1,500,000
Series
2023-FL10-B
(1
mo.
Term
SOFR
+
3.27%,
3.27%
Floor)
(a)
...................
6.89%
9/15/2035
1,504,059
785,000
Series
2024-FL11-B
(1
mo.
Term
SOFR
+
2.29%,
2.29%
Floor)
(a)
...................
5.92%
7/15/2039
786,594
1,720,000
Series
2024-FL11-C
(1
mo.
Term
SOFR
+
2.64%,
2.64%
Floor)
(a)
...................
6.27%
7/15/2039
1,717,368
2,510,000
Series
2026-FL13-A
(1
mo.
Term
SOFR
+
1.50%,
1.50%
Floor)
(a)
...................
5.14%
10/18/2043
2,515,931
BX
Trust
900,000
Series
2019-IMC-D
(1
mo.
Term
SOFR
+
1.95%,
1.90%
Floor)
(a)
....................
5.57%
4/15/2034
896,193
289,960
Series
2021-21M-A
(1
mo.
Term
SOFR
+
0.84%,
0.73%
Floor)
(a)
....................
4.47%
10/15/2036
289,978
420,000
Series
2021-LGCY-D
(1
mo.
Term
SOFR
+
1.42%,
1.30%
Floor)
(a)
..................
5.04%
10/15/2036
419,915
1,470,000
Series
2022-LBA6-C
(1
mo.
Term
SOFR
+
1.60%,
1.60%
Floor)
(a)
...................
5.23%
1/15/2039
1,470,935
693,801
Series
2024-AIRC-C
(1
mo.
Term
SOFR
+
2.59%,
2.59%
Floor)
(a)
...................
6.22%
8/15/2041
697,584
1,567,442
Series
2025-ARIA-C
(a)(c)
................................................
5.70%
12/13/2042
1,565,276
791,000
Series
2025-BCAT-D
(1
mo.
Term
SOFR
+
2.65%,
2.65%
Floor)
(a)
...................
6.28%
8/15/2042
795,995
1,445,932
Series
2025-ROIC-E
(1
mo.
Term
SOFR
+
2.94%,
2.94%
Floor)
(a)
...................
6.57%
3/15/2030
1,448,824
2,010,000
Series
2026-ALOHA-D
(1
mo.
Term
SOFR
+
2.15%,
2.15%
Floor)
(a)
.................
5.78%
4/15/2043
2,016,897
1,370,000
Series
2026-CART-D
(1
mo.
Term
SOFR
+
1.90%,
1.90%
Floor)
(a)
..................
5.53%
2/15/2036
1,370,954
1,926,368
Series
2026-CIP-C
(1
mo.
Term
SOFR
+
1.65%,
1.65%
Floor)
(a)
....................
5.28%
5/15/2038
1,935,617
1,450,000
Series
2026-CSMO-D
(1
mo.
Term
SOFR
+
2.45%,
2.45%
Floor)
(a)
..................
6.08%
2/15/2043
1,468,577
1,200,766
Series
2026-XL6-D
(1
mo.
Term
SOFR
+
2.10%,
2.10%
Floor)
(a)
....................
5.73%
3/15/2043
1,210,654
BXP
Trust
1,475,000
Series
2017-GM-C
(a)(c)
.................................................
3.54%
6/13/2039
1,445,915
Century
Plaza
Towers
1,190,000
Series
2019-CPT-E
(a)(c)
.................................................
3.10%
11/13/2039
1,047,533
CFCRE
Commercial
Mortgage
Trust
27,160
Series
2016-C4-XA
(b)(c)
.................................................
0.87%
5/10/2058
1
Citigroup
Commercial
Mortgage
Trust
710,382
Series
2016-P4-XA
(b)(c)
.................................................
1.65%
7/10/2049
32
1,533,000
Series
2023-PRM3-C
(a)(c)
...............................................
6.57%
7/10/2028
1,552,910
Citigroup/Deutsche
Bank
Commercial
Mortgage
Trust
7,588,723
Series
2017-CD3-XA
(b)(c)
...............................................
1.10%
2/10/2050
23,738
Commercial
Mortgage
Pass
Through
Certificates
1,227,000
Series
2015-DC1-C
(c)
..................................................
4.42%
2/10/2048
1,089,896
73,412
Series
2015-DC1-XA
(b)(c)
...............................................
0.70%
2/10/2048
1
2,228,000
Series
2018-HCLV-D
(1
mo.
Term
SOFR
+
2.47%,
2.18%
Floor)
(a)
...................
6.10%
9/15/2033
715,981
Credit
Suisse
Mortgage
Capital
Certificates
1,974,822
Series
2014-USA-X1
(a)(b)(c)
..............................................
0.69%
9/15/2037
15,116
1,471,000
Series
2021-BHAR-B
(1
mo.
Term
SOFR
+
1.61%,
1.50%
Floor)
(a)
..................
5.24%
11/15/2038
1,457,981
CSAIL
Commercial
Mortgage
Trust
37,546,207
Series
2018-CX12-XA
(b)(c)
...............................................
0.70%
8/15/2051
339,910
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
17
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
31,428,080
Series
2021-C20-XA
(b)(c)
................................................
1.11%
3/15/2054
1,047,158
18,269,000
Series
2021-C20-XD
(a)(b)(c)
..............................................
1.58%
3/15/2054
1,078,428
DBC
Mortgage
Trust
1,170,000
Series
2025-DBC-D
(1
mo.
Term
SOFR
+
2.60%,
2.60%
Floor)
(a)
...................
6.23%
11/15/2042
1,178,206
ELP
Commercial
Mortgage
Trust
1,300,000
Series
2025-ELP-E
(a)(c)
.................................................
6.67%
11/13/2042
1,307,609
FS
Rialto
441,624
Series
2021-FL3-A
(1
mo.
Term
SOFR
+
1.36%,
1.36%
Floor)
(a)
....................
5.00%
11/16/2036
442,728
2,100,000
Series
2021-FL3-D
(1
mo.
Term
SOFR
+
2.61%,
2.61%
Floor)
(a)
....................
6.25%
11/16/2036
2,113,390
2,050,000
Series
2025-FL10-D
(1
mo.
Term
SOFR
+
2.70%,
2.70%
Floor)
(a)
...................
6.33%
8/19/2042
2,056,177
2,135,000
Series
2026-FL11-C
(1
mo.
Term
SOFR
+
2.05%,
2.05%
Floor)
(a)
...................
5.69%
1/19/2044
2,141,629
Granite
Point
Mortgage
Trust,
Inc.
1,000,000
Series
2021-FL4-B
(1
mo.
Term
SOFR
+
2.06%,
1.95%
Floor)
(a)
....................
5.71%
12/15/2036
998,305
Great
Wolf
Trust
875,000
Series
2024-WLF2-D
(1
mo.
Term
SOFR
+
2.94%)
(a)
............................
6.56%
5/15/2041
883,137
1,450,000
Series
2024-WOLF-A
(1
mo.
Term
SOFR
+
1.54%,
1.54%
Floor)
(a)
..................
5.17%
3/15/2039
1,454,515
Greystone
Commercial
Real
Estate
Notes
2,475,000
Series
2025-FL4-C
(1
mo.
Term
SOFR
+
2.89%,
2.89%
Floor)
(a)
....................
6.51%
1/15/2043
2,522,117
GS
Mortgage
Securities
Corp.
II
679,917
Series
2013-GC13-B
(a)(c)
................................................
3.99%
7/10/2046
670,016
702,840
Series
2016-GS2-XA
(b)(c)
...............................................
1.47%
5/10/2049
25
442,000
Series
2018-GS10-WLSD
(a)(c)
............................................
5.07%
3/10/2033
47,569
553,000
Series
2018-GS10-WLSE
(a)(c)
............................................
5.07%
3/10/2033
55,160
1,509,000
Series
2018-RIVR-E
(1
mo.
Term
SOFR
+
1.85%,
1.80%
Floor)
(a)
...................
5.47%
7/15/2035
4,851
850,000
Series
2018-TWR-E
(1
mo.
Term
SOFR
+
2.40%,
2.10%
Floor)
(a)
...................
6.02%
7/15/2031
44,607
850,000
Series
2018-TWR-F
(1
mo.
Term
SOFR
+
3.10%,
2.80%
Floor)
(a)
...................
6.72%
7/15/2031
22,295
850,000
Series
2018-TWR-G
(1
mo.
Term
SOFR
+
4.22%,
3.93%
Floor)
(a)
...................
7.85%
7/15/2031
8,483
GS
REFT
2026-FL1
Issuer
Ltd.
1,471,000
Series
2026-FL1-A
(1
mo.
Term
SOFR
+
1.50%,
1.50%
Floor)
(a)
....................
5.14%
10/19/2043
1,476,684
1,880,000
Series
2026-FL1-C
(1
mo.
Term
SOFR
+
2.15%,
2.15%
Floor)
(a)
....................
5.79%
10/19/2043
1,889,964
Hilton
USA
Trust
760,000
Series
2016-HHV-C
(a)(c)
................................................
4.33%
11/5/2038
758,049
1,046,000
Series
2016-SFP-A
(a)
..................................................
2.83%
11/5/2035
872,083
INCREF
LLC
3,260,000
Series
2025-FL1-D
(1
mo.
Term
SOFR
+
4.19%,
4.19%
Floor)
(a)
....................
7.83%
10/19/2042
3,335,342
1,910,000
Series
2026-FL2-B
(1
mo.
Term
SOFR
+
1.95%,
1.95%
Floor)
(a)
....................
5.62%
12/19/2043
1,912,854
2,210,000
Series
2026-FL3-D
(1
mo.
Term
SOFR
+
2.60%,
2.60%
Floor)
(a)
....................
6.25%
1/19/2044
2,216,515
JP
Morgan
Chase
Commercial
Mortgage
Securities
4,001,935
Series
2016-JP4-XA
(b)(c)
................................................
0.78%
12/15/2049
1,053
JPMBB
Commercial
Mortgage
Securities
Trust
670,181
Series
2015-C30-AS
(c)
.................................................
4.23%
7/15/2048
660,415
112,788
Series
2015-C31-XA
(b)(c)
................................................
0.58%
8/15/2048
1
470,000
Series
2015-C33-C
(c)
..................................................
4.96%
12/15/2048
452,712
KREF
3,197,500
Series
2021-FL2-B
(1
mo.
Term
SOFR
+
1.76%,
1.65%
Floor)
(a)
....................
5.40%
2/15/2039
3,203,495
205,561
Series
2022-FL3-A
(1
mo.
Term
SOFR
+
1.45%,
1.45%
Floor)
(a)
....................
5.09%
2/17/2039
205,822
Ladder
Capital
Commercial
Mortgage
Securities
LLC
2,532,000
Series
2017-LC26-C
(a)
.................................................
4.71%
7/12/2050
2,386,493
LBTY
Commercial
Mortgage
Trust
1,450,000
Series
2026-225L-D
(a)(c)
................................................
5.90%
2/10/2043
1,430,007
LoanCore
1,236,500
Series
2021-CRE6-AS
(1
mo.
Term
SOFR
+
1.76%,
1.65%
Floor)
(a)
.................
5.39%
11/15/2038
1,239,004
1,440,000
Series
2021-CRE6-D
(1
mo.
Term
SOFR
+
2.96%,
2.85%
Floor)
(a)
..................
6.59%
11/15/2038
1,445,604
1,180,000
Series
2025-CRE8-D
(1
mo.
Term
SOFR
+
2.74%,
2.74%
Floor)
(a)
..................
6.38%
8/17/2042
1,174,378
LSTAR
Commercial
Mortgage
Trust
8,213,012
Series
2017-5-X
(a)(b)(c)
..................................................
0.97%
3/10/2050
24,248
Lument
Finance
Trust,
Inc.
2,800,000
Series
2025-FL3-C
(1
mo.
Term
SOFR
+
2.75%,
2.75%
Floor)
(a)
....................
6.39%
7/21/2043
2,828,622
Merit
670,000
Series
2021-STOR-C
(1
mo.
Term
SOFR
+
1.16%,
1.05%
Floor)
(a)
..................
4.79%
7/15/2038
669,787
MF1
Multifamily
Housing
Mortgage
Loan
Trust
1,487,000
Series
2021-FL7-B
(1
mo.
Term
SOFR
+
1.86%,
1.75%
Floor)
(a)
....................
5.50%
10/16/2036
1,489,201
2,950,000
Series
2021-FL7-C
(1
mo.
Term
SOFR
+
2.16%,
2.05%
Floor)
(a)
....................
5.80%
10/16/2036
2,952,590
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
18
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
2,658,000
Series
2021-FL7-D
(1
mo.
Term
SOFR
+
2.66%,
2.55%
Floor)
(a)
....................
6.30%
10/16/2036
2,662,721
1,500,000
Series
2024-FL15-B
(1
mo.
Term
SOFR
+
2.49%,
2.49%
Floor)
(a)
...................
6.13%
8/18/2041
1,504,828
1,920,000
Series
2024-FL15-D
(1
mo.
Term
SOFR
+
4.04%,
4.04%
Floor)
(a)
...................
7.68%
8/18/2041
1,926,261
2,100,000
Series
2024-FL16-D
(1
mo.
Term
SOFR
+
3.59%,
3.59%
Floor)
(a)
...................
7.23%
11/18/2039
2,090,743
1,260,000
Series
2025-FL17-D
(1
mo.
Term
SOFR
+
2.74%,
2.74%
Floor)
(a)
...................
6.38%
2/18/2040
1,265,030
3,130,000
Series
2026-FL21-C
(1
mo.
Term
SOFR
+
1.95%,
1.95%
Floor)
(a)
...................
5.59%
2/18/2041
3,137,809
2,620,000
Series
2026-FL22-C
(1
mo.
Term
SOFR
+
2.00%,
2.00%
Floor)
(a)
...................
5.64%
11/18/2043
2,628,339
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
619,940
Series
2013-C9-B
(c)
...................................................
3.71%
5/15/2046
592,615
1,140,000
Series
2025-5C1-C
(c)
..................................................
6.86%
3/15/2058
1,164,854
9,836,000
Series
2025-5C2-XA
(b)(c)
................................................
1.45%
11/15/2058
469,815
Morgan
Stanley
Capital
I,
Inc.
2,489,000
Series
2019-NUGS-F
(1
mo.
Term
SOFR
+
2.96%,
4.34%
Floor)
(a)
..................
6.58%
12/15/2036
12,457
MTN
Commercial
Mortgage
Trust
1,550,000
Series
2026-LPFX-E
(a)(c)
................................................
6.56%
5/15/2043
1,563,821
Natixis
Commercial
Mortgage
Securities
Trust
1,310,000
Series
2019-10K-E
(a)(c)
.................................................
4.27%
5/15/2039
1,217,722
NYC
Commercial
Mortgage
Trust
1,776,000
Series
2025-300P-E
(a)(c)
................................................
7.39%
7/13/2042
1,795,447
PFP
III
Ltd.
1,095,083
Series
2024-11-B
(1
mo.
Term
SOFR
+
2.49%,
2.49%
Floor)
(a)
.....................
6.10%
9/17/2039
1,097,824
1,840,000
Series
2026-13-C
(1
mo.
Term
SOFR
+
2.00%,
2.00%
Floor)
(a)
.....................
5.64%
8/18/2043
1,844,589
3,150,000
Series
2026-14-C
(1
mo.
Term
SOFR
+
1.95%,
1.95%
Floor)
(a)
.....................
5.60%
12/18/2043
3,157,850
PLYM
Commercial
Mortgage
Trust
970,000
Series
2026-IND-D
(1
mo.
Term
SOFR
+
2.15%,
2.15%
Floor)
(a)
....................
5.78%
3/15/2043
972,411
RFR
Trust
1,050,000
Series
2025-SGRM-E
(a)(c)
...............................................
7.51%
3/11/2041
1,060,956
SFO
Commerical
Mortgage
Trust
1,000,000
Series
2021-555-B
(1
mo.
Term
SOFR
+
1.86%,
1.50%
Floor)
(a)
....................
5.49%
5/15/2038
1,000,104
SHOPS
Trust
2,080,000
Series
2026-CSTL-A
(a)(c)
................................................
4.97%
5/5/2039
2,066,855
SLG
Office
Trust
1,640,000
Series
2026-PAT-E
(a)(c)
.................................................
6.92%
2/15/2039
1,630,130
SMRT
2,040,000
Series
2022-MINI-D
(1
mo.
Term
SOFR
+
1.95%,
1.95%
Floor)
(a)
...................
5.58%
1/15/2039
2,038,035
Starwood
Property
Trust,
Inc.
2,423,000
Series
2021-FL2-D
(1
mo.
Term
SOFR
+
2.91%,
2.80%
Floor)
(a)
....................
6.55%
4/18/2038
2,429,782
TCO
Commercial
Mortgage
Trust
680,000
Series
2024-DPM-C
(1
mo.
Term
SOFR
+
1.99%,
1.99%
Floor)
(a)
...................
5.62%
12/15/2039
681,880
UBS
Commercial
Mortgage
Trust
2,325,000
Series
2018-C13-B
(c)
..................................................
4.79%
10/15/2051
2,202,179
295,000
Series
2018-C13-C
(c)
..................................................
5.12%
10/15/2051
266,970
1,097,000
Series
2018-C8-C
(c)
...................................................
4.84%
2/15/2051
1,011,720
12,277,863
Series
2018-C8-XA
(b)(c)
.................................................
0.96%
2/15/2051
125,835
VASA
Trust
754,634
Series
2021-VASA-A
(1
mo.
Term
SOFR
+
1.01%,
0.90%
Floor)
(a)
...................
4.64%
7/15/2039
741,095
VEGAS
Trust
684,000
Series
2024-TI-A
(a)
...................................................
5.52%
11/10/2039
683,457
Wells
Fargo
Commercial
Mortgage
Trust
59,745
Series
2015-C27-C
...................................................
3.89%
2/15/2048
52,953
146,836
Series
2015-NXS2-XA
(b)(c)
..............................................
0.00%
7/15/2058
1
727,288
Series
2016-NXS6-XA
(b)(c)
..............................................
1.52%
11/15/2049
34
12,196,864
Series
2017-C38-XA
(b)(c)
................................................
1.03%
7/15/2050
75,525
1,749,945
Series
2017-RC1-XA
(b)(c)
...............................................
1.54%
1/15/2060
7,801
47,921,022
Series
2025-5C3-XA
(b)(c)
................................................
1.04%
1/15/2058
1,266,054
37,878,300
Series
2025-5C5-XA
(b)(c)
................................................
1.53%
7/15/2058
1,754,182
2,627,000
Series
2025-5C7-C
(c)
..................................................
5.80%
12/15/2058
2,558,488
1,260,000
Series
2025-AGLN-B
(1
mo.
Term
SOFR
+
1.94%,
1.94%
Floor)
(a)
..................
5.57%
7/15/2037
1,262,950
1,790,000
Series
2025-VTT-C
(a)(c)
.................................................
6.03%
3/15/2038
1,792,280
1,931,000
Series
2026-5C8-D
(a)
..................................................
4.50%
3/15/2059
1,640,511
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
19
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
WHARF
Trust
1,070,000
Series
2025-DC-E
(a)(c)
.................................................
7.98%
7/15/2040
1,083,636
Total
Non-Agency
Commercial
Mortgage
Backed
Obligations
(Cost
$231,226,576)
207,058,730
NON-AGENCY
RESIDENTIAL
COLLATERALIZED
MORTGAGE
OBLIGATIONS
-
17.7%
ACE
Securities
Corp.
2,396,779
Series
2007-HE1-A2A
(1
mo.
Term
SOFR
+
0.29%,
0.18%
Floor)
...................
3.94%
1/25/2037
1,450,494
972,836
Series
2007-HE1-A2D
(1
mo.
Term
SOFR
+
0.61%,
0.50%
Floor)
...................
4.26%
1/25/2037
588,703
ACRA
Trust
3,000,000
Series
2026-NQM1-M1
(a)(c)
..............................................
5.96%
6/25/2066
3,005,856
AMSR
Trust
5,122,000
Series
2021-SFR3-G
(a)
.................................................
3.80%
10/17/2038
5,081,055
2,775,000
Series
2024-SFR1-D
(a)(i)
................................................
4.29%
7/17/2041
2,668,437
10,000,000
Series
2025-SFR1-D
(a)
.................................................
3.66%
6/17/2042
9,268,985
APS
Resecuritization
Trust
6,484,494
Series
2015-3-1MZ
(12
Month
US
Treasury
Average
+
0.96%,
0.96%
Floor)
(a)
..........
4.03%
10/27/2046
5,749,659
Asset
Backed
Securities
Corp.
Home
Equity
1,421,662
Series
2007-HE2-A4
(1
mo.
Term
SOFR
+
0.34%,
0.23%
Floor)
....................
3.99%
5/25/2037
1,024,785
Bear
Stearns
Adjustable
Rate
Mortgage
Trust
738,810
Series
2006-2-2A1
(c)
..................................................
4.11%
7/25/2036
642,283
Bear
Stearns
Alt-A
Trust
593,227
Series
2006-4-22A1
(c)
.................................................
4.08%
8/25/2036
430,066
BRAVO
Residential
Funding
Trust
4,000,000
Series
2025-NQM7-M1
(a)(c)
..............................................
6.23%
7/25/2065
4,005,714
654,000
Series
2026-NQM1-B1
(a)(c)
..............................................
6.45%
12/25/2065
651,184
1,000,000
Series
2026-NQM2-B1
(a)(c)
..............................................
6.35%
11/25/2065
986,949
1,000,000
Series
2026-NQM3-B1
(a)(c)
..............................................
6.43%
11/25/2065
996,360
1,000,000
Series
2026-NQM4-B1
(a)(c)
..............................................
6.80%
3/25/2066
994,024
8,000,000
Series
2026-NQM4-M1
(a)(c)
..............................................
6.03%
3/25/2066
7,974,694
3,000,000
Series
2026-NQM5-B1
(a)(c)
..............................................
6.69%
6/25/2066
3,028,974
1,000,000
Series
2026-NQM6-B1
(a)(c)
..............................................
6.60%
5/25/2066
1,000,473
Chase
Mortgage
Finance
Corp.
1,955,757
Series
2007-S4-A4
(1
mo.
Term
SOFR
+
0.71%,
0.60%
Floor,
6.00%
Cap)
............
4.36%
6/25/2037
564,629
Citimortgage
Alternative
Loan
Trust
456,680
Series
2007-A5-1A10
.................................................
5.75%
5/25/2037
415,461
CLIP
Trust
4,238,000
Series
2026-NQM1-M1
(a)(c)
..............................................
5.96%
5/25/2071
4,218,701
COLT
Funding
LLC
900,000
Series
2025-7-M1
(a)(c)
..................................................
6.03%
6/25/2070
897,932
Countrywide
Alternative
Loan
Trust
191,712
Series
2005-75CB-A3
.................................................
5.50%
1/25/2036
124,783
523,842
Series
2006-23CB-2A2
................................................
6.50%
8/25/2036
146,055
3,245,246
Series
2006-6CB-2A10
................................................
6.00%
5/25/2036
1,121,030
1,556,106
Series
2006-OA6-1A1A
(1
mo.
Term
SOFR
+
0.53%,
0.42%
Floor)
..................
4.18%
7/25/2046
1,472,095
267,743
Series
2007-15CB-A7
.................................................
6.00%
7/25/2037
151,968
460,622
Series
2008-1R-2A3
..................................................
6.00%
8/25/2037
212,093
Countrywide
Home
Loan
Mortgage
Pass
Through
Trust
65,223
Series
2005-HYB9-3A2A
(12
mo.
Term
SOFR
+
2.47%,
1.75%
Floor,
11.00%
Cap)
.......
6.22%
2/20/2036
58,057
232,935
Series
2007-14-A15
..................................................
6.50%
9/25/2037
118,487
4,561,558
Series
2007-14-A19
..................................................
6.00%
9/25/2037
2,145,275
242,683
Series
2007-HY1-1A1
(c)
................................................
4.37%
4/25/2037
231,834
Credit
Suisse
First
Boston
Mortgage
Securities
Corp.
355,721
Series
2005-10-6A9
..................................................
5.50%
11/25/2035
122,933
149,352
Series
2005-9-5A9
...................................................
5.50%
10/25/2035
69,035
Credit
Suisse
Mortgage
Capital
Certificates
1,500,000
Series
2021-NQM6-B1
(a)(c)
..............................................
3.29%
7/25/2066
1,103,305
CSAB
Mortgage
Backed
Trust
925,693
Series
2006-2-A5A
(i)
..................................................
6.58%
9/25/2036
265,997
DB
US
Financial
Markets
Holding
Corp.
79,132
Series
2014-RS1-1A2
(a)(c)
...............................................
6.50%
7/27/2037
66,646
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
20
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Deutsche
ALT-A
Securities,
Inc.
138,102
Series
2006-AB4-A1A
(c)
................................................
6.01%
10/25/2036
120,610
Ellington
Financial
Mortgage
Trust
2,829,000
Series
2025-INV3-B1
(a)(c)
...............................................
7.61%
7/25/2070
2,845,639
3,470,000
Series
2025-INV5-B1
(a)(c)
...............................................
6.79%
12/25/2070
3,464,902
1,835,000
Series
2025-NQM3-M1A
(a)(c)
.............................................
6.05%
8/25/2070
1,832,509
Fannie
Mae
Connecticut
Avenue
Securities
6,200,000
Series
2024-R01-1M2
(30
day
avg
SOFR
US
+
1.80%,
0.00%
Floor)
(a)
...............
5.43%
1/25/2044
6,245,393
7,069,869
Series
2024-R05-2M2
(30
day
avg
SOFR
US
+
1.70%,
0.00%
Floor)
(a)
...............
5.33%
7/25/2044
7,085,025
7,500,000
Series
2025-R04-1M2
(30
day
avg
SOFR
US
+
1.50%,
0.00%
Floor)
(a)
...............
5.13%
5/25/2045
7,535,133
FirstKey
Homes
Trust
6,452,000
Series
2021-SFR1-F1
(a)
................................................
3.24%
8/17/2038
6,426,111
Freddie
Mac
Structured
Agency
Credit
Risk
Debt
Notes
4,300,000
Series
2024-DNA1-M2
(30
day
avg
SOFR
US
+
1.95%,
0.00%
Floor)
(a)
...............
5.58%
2/25/2044
4,345,693
Freedom
Mortgage
Parent
LLC
8,000,000
Series
2021-GT1-A
(a)(c)
.................................................
3.62%
7/25/2026
7,702,853
GCAT
500,000
Series
2019-NQM3-B1
(a)(c)
..............................................
3.95%
11/25/2059
449,482
3,502,000
Series
2025-NQM3-B1
(a)(c)
..............................................
7.11%
5/25/2070
3,502,832
5,693,223
Series
2026-NQM2-A3
(a)(i)
..............................................
5.85%
2/25/2071
5,677,708
2,857,000
Series
2026-NQM2-M1
(a)(c)
..............................................
6.15%
2/25/2071
2,850,367
GS
Mortgage-Backed
Securities
Trust
4,410,000
Series
2025-NQM4-M1
(a)(c)
..............................................
5.97%
10/25/2065
4,378,297
Home
Partners
of
America
Trust
6,410,959
Series
2019-2-F
(a)
....................................................
3.87%
10/19/2039
6,237,068
Impac
Secured
Assets
CMN
Owner
Trust
563,017
Series
2006-5-1A1C
(1
mo.
Term
SOFR
+
0.65%,
0.54%
Floor,
11.50%
Cap)
...........
4.30%
2/25/2037
517,998
JP
Morgan
Mortgage
Trust
399,743
Series
2005-S3-1A2
..................................................
5.75%
1/25/2036
173,262
247,600
Series
2007-A2-4A1M
(c)
................................................
4.61%
4/25/2037
205,820
1,300,000
Series
2025-NQM3-M1A
(a)(c)
.............................................
5.97%
11/25/2065
1,295,730
Legacy
Mortgage
Asset
Trust
3,946,676
Series
2021-GS1-A2
(a)(i)
................................................
7.84%
10/25/2066
3,954,929
Lehman
Mortgage
Trust
102,829
Series
2006-1-1A3
...................................................
5.50%
2/25/2036
45,264
MASTR
Adjustable
Rate
Mortgages
Trust
67,831
Series
2006-2-2A1
(c)
..................................................
6.54%
4/25/2036
29,447
Merrill
Lynch
Alternative
Note
Asset
256,955
Series
2007-F1-2A7
..................................................
6.00%
3/25/2037
76,504
Merrill
Lynch
Mortgage
Investors,
Inc.
523,850
Series
2006-AF1-AF2C
................................................
6.25%
8/25/2036
182,191
Morgan
Stanley
Mortgage
Loan
Trust
3,892,953
Series
2005-7-3A1
(c)
..................................................
4.57%
11/25/2035
1,975,474
65,255
Series
2005-7-4A1
...................................................
5.50%
11/25/2035
36,845
264,517
Series
2006-2-7A1
(c)
..................................................
5.44%
2/25/2036
141,390
390,184
Series
2007-8XS-A1
(c)
.................................................
5.75%
4/25/2037
185,438
Morgan
Stanley
Reremic
Trust
6,162,981
Series
2013-R7-8B
(12
Month
US
Treasury
Average
+
0.96%,
0.96%
Floor)
(a)
..........
4.76%
12/26/2046
5,923,067
Morgan
Stanley
Residential
Mortgage
Loan
Trust
2,000,000
Series
2025-NQM5-B1
(a)(c)
..............................................
7.01%
7/25/2070
1,997,144
2,876,000
Series
2026-NQM5-M1
(a)(c)
..............................................
6.26%
4/27/2071
2,876,904
New
Century
Home
Equity
Loan
Trust
599,422
Series
2006-1-A2B
(1
mo.
Term
SOFR
+
0.47%,
0.36%
Floor,
12.50%
Cap)
...........
4.12%
5/25/2036
599,977
New
Residential
Mortgage
Loan
Trust
1,700,000
Series
2025-NQM5-B1
(a)(c)
..............................................
6.83%
8/25/2065
1,667,752
3,250,000
Series
2026-NQM1-B1
(a)(c)
..............................................
6.59%
11/25/2065
3,224,513
1,550,000
Series
2026-NQM7-B1
(a)(c)
..............................................
6.50%
6/25/2066
1,534,337
Novastar
Home
Equity
Loan
9,071,457
Series
2006-3-A2C
(1
mo.
Term
SOFR
+
0.43%,
0.32%
Floor,
11.00%
Cap)
...........
4.08%
10/25/2036
4,215,338
NYMT
Loan
Trust
2,354,000
Series
2025-INV2-B1
(a)(c)
...............................................
6.99%
10/25/2060
2,372,941
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
21
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
Onslow
Bay
Mortgage
Loan
Trust
1,375,000
Series
2024-NQM18-M1
(a)(c)
.............................................
6.17%
10/25/2064
1,380,763
Pretium
Mortgage
Credit
Partners
LLC
2,700,000
Series
2025-NPL10-A2
(a)(i)
..............................................
7.26%
10/25/2055
2,677,058
1,162,000
Series
2025-NPL9-A2
(a)(i)
...............................................
7.51%
8/25/2055
1,163,960
PRKCM
Trust
7,439,000
Series
2026-AFC2-M1
(a)(c)
..............................................
6.16%
4/25/2061
7,422,353
1,723,000
Series
2026-AFC4-M1
(a)(c)
..............................................
6.04%
7/25/2061
1,726,206
Progress
Residential
Trust
6,000,000
Series
2024-SFR3-E1
(a)
................................................
4.00%
6/17/2041
5,711,955
PRPM
LLC
3,578,064
Series
2025-3-A1
(a)(i)
..................................................
6.26%
5/25/2030
3,579,470
6,079,386
Series
2025-4-A1
(a)(i)
..................................................
6.18%
6/25/2030
6,067,546
800,000
Series
2025-7-A2
(a)(i)
..................................................
7.45%
8/25/2030
799,044
2,000,000
Series
2025-NQM4-B1
(a)(c)
..............................................
6.72%
7/25/2070
1,989,623
RALI
Trust
202,683
Series
2006-QS12-2A3
................................................
6.00%
9/25/2036
165,185
Residential
Asset
Securitization
Trust
1,503,625
Series
2005-A15-5A2
.................................................
5.75%
2/25/2036
491,181
345,440
Series
2006-A2-A11
..................................................
6.00%
1/25/2046
120,616
Residential
Mortgage
Loan
Trust
5,750,000
Series
2020-1-B1
(a)(c)
..................................................
3.95%
1/26/2060
5,479,664
RFMSI
Trust
2,169,432
Series
2006-S8-A10
..................................................
6.00%
9/25/2036
1,747,880
Santander
Mortgage
Asset
Receivable
Trust
2,000,000
Series
2025-NQM5-M1
(a)(c)
..............................................
6.04%
8/25/2065
1,989,182
1,000,000
Series
2026-NQM1-B1
(a)(c)
..............................................
6.70%
11/25/2065
987,873
Soundview
Home
Equity
Loan
Trust
3,787,201
Series
2007-OPT1-2A2
(1
mo.
Term
SOFR
+
0.26%,
0.15%
Floor)
..................
3.91%
6/25/2037
2,629,528
Starwood
Mortgage
Residential
Trust
1,116,000
Series
2019-INV1-B1
(a)(c)
...............................................
3.66%
9/27/2049
1,062,504
Structured
Adjustable
Rate
Mortgage
Loan
Trust
417,616
Series
2005-22-4A1
(c)
.................................................
5.20%
12/25/2035
388,159
Structured
Asset
Securities
Corp.
6,137,409
Series
2007-OSI-A4
(1
mo.
Term
SOFR
+
0.51%,
0.40%
Floor)
....................
4.16%
6/25/2037
4,021,796
4,111,703
Series
2007-RF1-1A
(1
mo.
Term
SOFR
+
0.30%,
0.19%
Floor)
(a)
...................
3.95%
3/25/2037
3,437,356
TBW
Mortgage
Backed
Pass
Through
Certificates
13,449,563
Series
2006-3-4A1
(1
mo.
Term
SOFR
+
0.51%,
0.40%
Floor,
7.50%
Cap)
............
4.16%
7/25/2036
903,282
13,449,650
Series
2006-3-4A3
(-1
x
1
mo.
Term
SOFR
+
6.99%,
0.00%
Floor,
7.10%
Cap)
(b)(j)
.......
3.34%
7/25/2036
306,361
Velocity
Commercial
Capital
Loan
Trust
1,006,289
Series
2018-2-M2
(a)(c)
..................................................
4.51%
10/26/2048
959,405
256,024
Series
2018-2-M3
(a)(c)
..................................................
4.72%
10/26/2048
237,583
681,667
Series
2019-1-M5
(a)(c)
..................................................
5.70%
3/25/2049
604,138
997,839
Series
2019-2-M4
(a)(c)
..................................................
3.99%
7/25/2049
878,219
Verus
Securitization
Trust
2,600,000
Series
2021-3-B1
(a)(c)
..................................................
3.20%
6/25/2066
2,019,156
5,000,000
Series
2021-7-B1
(a)(c)
..................................................
4.14%
10/25/2066
4,082,612
3,000,000
Series
2021-R2-B1
(a)(c)
.................................................
3.25%
2/25/2064
2,572,018
2,150,000
Series
2024-3-B2
(a)(c)
..................................................
8.40%
4/25/2069
2,179,513
4,750,000
Series
2024-6-M1
(a)(c)
..................................................
6.18%
7/25/2069
4,772,632
2,000,000
Series
2024-9-M1
(a)(c)
..................................................
6.20%
11/25/2069
2,008,741
6,125,000
Series
2025-1-M1
(a)(c)
..................................................
6.51%
1/25/2070
6,169,840
1,493,000
Series
2025-2-B1
(a)
...................................................
6.97%
3/25/2070
1,500,230
7,680,000
Series
2025-3-B1
(a)(c)
..................................................
7.49%
5/25/2070
7,731,441
1,228,000
Series
2025-5-B1
(a)(c)
..................................................
7.06%
6/25/2070
1,236,756
1,500,000
Series
2025-6-B1
(a)(c)
..................................................
6.87%
7/25/2070
1,505,893
1,000,000
Series
2025-7-B1
(a)(c)
..................................................
6.62%
8/25/2070
999,383
400,000
Series
2025-8-B1
(a)
...................................................
6.48%
9/25/2070
398,675
1,000,000
Series
2025-9-B1
(a)(c)
..................................................
6.54%
10/27/2070
997,870
392,000
Series
2025-9-B2
(a)(c)
..................................................
7.37%
10/27/2070
393,453
2,100,000
Series
2025-R1-M1
(a)(c)
................................................
6.13%
5/25/2065
2,102,050
2,798,000
Series
2026-1-B1
(a)(c)
..................................................
6.47%
1/25/2071
2,778,984
2,925,000
Series
2026-2-B1
(a)(c)
..................................................
6.33%
2/25/2071
2,893,258
3,000,000
Series
2026-3-B1
(a)(c)
..................................................
6.44%
3/25/2071
2,972,915
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
22
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
2,000,000
Series
2026-4-B1
(a)(c)
..................................................
6.67%
4/25/2071
1,996,694
2,450,000
Series
2026-R1-B1
(a)(c)
.................................................
5.79%
10/25/2067
2,390,345
1,000,000
Series
2026-R3-M1
(a)(c)
................................................
6.03%
2/27/2068
996,771
6,000,000
Series
2026-R5-M1
(a)(c)
................................................
6.25%
3/25/2068
6,023,962
WaMu
Mortgage
Pass
Through
Certificates
532,799
Series
2007-HY6-2A2
(c)
................................................
3.66%
6/25/2037
484,505
Washington
Mutual
Alternative
Mortgage
Pass-Through
Certificates
364,802
Series
2006-2-4CB
...................................................
6.00%
3/25/2036
362,305
Wells
Fargo
Alternative
Loan
Trust
178,047
Series
2007-PA5-1A1
.................................................
6.25%
11/25/2037
152,574
Wells
Fargo
Home
Equity
Trust
4,534,286
Series
2007-2-A4
(1
mo.
Term
SOFR
+
0.71%,
0.60%
Floor)
......................
4.36%
4/25/2037
3,364,822
Total
Non-Agency
Residential
Collateralized
Mortgage
Obligations
(Cost
$326,894,346)
291,002,186
US
CORPORATE
BONDS
-
4.3%
615,000
1261229
BC
Ltd.
(a)
...................................................
10.00%
4/15/2032
623,306
215,000
AAR
Escrow
Issuer
LLC
(a)
..............................................
6.75%
3/15/2029
219,831
270,000
Academy
Ltd.
(a)
......................................................
5.88%
5/15/2031
270,174
75,000
Acrisure
LLC
/
Acrisure
Finance,
Inc.
(a)
......................................
6.00%
8/1/2029
66,143
645,000
Acrisure
LLC
/
Acrisure
Finance,
Inc.
(a)
......................................
6.75%
7/1/2032
580,307
485,000
Acushnet
Co.
(a)
......................................................
5.63%
12/1/2033
483,645
245,000
ADI
Escrow
Issuer
LLC
(a)
...............................................
7.13%
7/15/2034
250,094
130,000
Advance
Auto
Parts,
Inc.
(a)
..............................................
7.38%
8/1/2033
134,828
450,000
Advanced
Drainage
Systems,
Inc.
(a)
.......................................
6.38%
6/15/2030
457,785
155,000
Advanced
Drainage
Systems,
Inc.
(a)
.......................................
5.38%
3/1/2034
151,827
240,000
Aethon
United
BR
LP
/
Aethon
United
Finance
Corp.
(a)
..........................
7.50%
10/1/2029
249,707
168,000
Allegiant
Travel
Co.
(a)
..................................................
7.13%
7/1/2031
170,262
265,000
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co.-Issuer
(a)
....................
6.50%
10/1/2031
264,604
280,000
Allied
Universal
Holdco
LLC
(a)
............................................
7.88%
2/15/2031
292,857
200,000
Allied
Universal
Holdco
LLC
/
Allied
Universal
Finance
Corp.
(a)
.....................
6.00%
6/1/2029
199,253
115,000
Amentum
Holdings,
Inc.
(a)
..............................................
7.25%
8/1/2032
118,523
100,000
American
Axle
&
Manufacturing,
Inc.
.......................................
5.00%
10/1/2029
97,079
135,000
American
Axle
&
Manufacturing,
Inc.
(a)
......................................
6.38%
10/15/2032
134,605
190,000
American
Axle
&
Manufacturing,
Inc.
(a)
......................................
7.75%
10/15/2033
187,823
185,000
AmWINS
Group,
Inc.
(a)
.................................................
4.88%
6/30/2029
178,382
110,000
Anywhere
Real
Estate
Group
LLC
/
Anywhere
Co.-Issuer
Corp.
(a)
...................
7.00%
4/15/2030
111,247
150,000
Anywhere
Real
Estate
Group
LLC
/
Realogy
Co.-Issuer
Corp.
(a)
....................
9.75%
4/15/2030
161,870
130,000
Anywhere
Real
Estate
Group
LLC
/
Realogy
Co.-Issuer
Corp.
(a)
....................
5.25%
4/15/2030
125,545
190,000
APLD
ComputeCo
LLC
(a)
...............................................
9.25%
12/15/2030
205,077
230,000
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp.
(a)
........................
6.63%
9/1/2032
234,699
410,000
Arsenal
AIC
Parent
LLC
(a)
..............................................
8.00%
10/1/2030
427,814
30,000
Artera
Services
LLC
(a)
.................................................
8.50%
2/15/2031
27,005
130,000
Ashton
Woods
USA
LLC
/
Ashton
Woods
Finance
Co.
(a)
.........................
4.63%
4/1/2030
123,446
105,000
Asurion
LLC/
Asurion
Co.-Issuer,
Inc.
(a)
.....................................
8.00%
12/31/2032
105,879
110,000
Asurion
LLC/
Asurion
Co.-Issuer,
Inc.
(a)
.....................................
8.38%
2/1/2034
101,906
260,000
AthenaHealth
Group,
Inc.
(a)
.............................................
6.50%
2/15/2030
249,457
130,000
Azorra
Finance
Ltd.
(a)
.................................................
7.75%
4/15/2030
134,951
225,000
Azorra
Finance
Ltd.
(a)
.................................................
7.25%
1/15/2031
231,370
230,000
Bausch
+
Lomb
Corp.
(a)
................................................
8.38%
10/1/2028
236,612
310,000
Beach
Acquisition
Bidco
LLC
10.75%
PIK
(a)
..................................
10.00%
7/15/2033
352,155
200,000
BioMarin
Pharmaceutical,
Inc.
(a)
..........................................
5.50%
2/15/2034
196,618
315,000
Buckeye
Partners
LP
(a)
................................................
6.88%
7/1/2029
321,747
265,000
Builders
FirstSource,
Inc.
(a)
..............................................
6.38%
3/1/2034
268,221
150,000
Builders
FirstSource,
Inc.
(a)
..............................................
6.75%
5/15/2035
153,123
100,000
CACI
International,
Inc.
(a)
...............................................
6.38%
6/15/2033
101,482
570,000
Carnival
Corp.
(a)
.....................................................
5.88%
6/15/2031
580,564
490,000
Carnival
Corp.
(a)
.....................................................
5.75%
8/1/2032
495,399
370,000
Caturus
Energy
LLC
(a)
.................................................
7.13%
5/15/2031
366,533
94,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
(a)
.............................
5.13%
5/1/2027
93,858
495,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
(a)
.............................
4.75%
3/1/2030
469,592
420,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
(a)
.............................
4.75%
2/1/2032
374,912
65,000
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
(a)
.............................
7.38%
2/1/2036
63,823
155,000
Celanese
US
Holdings
LLC
.............................................
6.50%
4/15/2030
158,071
155,000
Celanese
US
Holdings
LLC
.............................................
6.75%
4/15/2033
157,981
280,000
Centene
Corp.
......................................................
4.63%
12/15/2029
271,764
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
23
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
65,000
Chemours
Co.
(a)
.....................................................
7.88%
3/15/2034
65,375
315,000
Chord
Energy
Corp.
(a)
.................................................
6.00%
10/1/2030
316,497
190,000
Chord
Energy
Corp.
(a)
.................................................
6.75%
3/15/2033
192,913
205,000
CHS/Community
Health
Systems,
Inc.
(a)
....................................
6.00%
1/15/2029
203,089
85,000
CHS/Community
Health
Systems,
Inc.
(a)
....................................
6.88%
4/15/2029
83,673
89,000
CHS/Community
Health
Systems,
Inc.
(a)
....................................
4.75%
2/15/2031
81,939
250,000
Cipher
Compute
LLC
(a)
................................................
7.13%
11/15/2030
260,193
140,000
Clarios
Global
LP
/
Clarios
US
Finance
Co.
(a)
.................................
6.75%
5/15/2028
142,153
555,000
Clarios
Global
LP
/
Clarios
US
Finance
Co.
(a)
.................................
6.75%
2/15/2030
572,202
455,000
Clarios
Global
LP
/
Clarios
US
Finance
Co.
(a)
.................................
6.75%
9/15/2032
464,976
130,000
Clear
Channel
Outdoor
Holdings,
Inc.
(a)
.....................................
7.50%
6/1/2029
130,153
215,000
Clear
Channel
Outdoor
Holdings,
Inc.
(a)
.....................................
7.13%
2/15/2031
222,748
155,000
Cleveland-Cliffs,
Inc.
(a)
.................................................
6.88%
11/1/2029
156,467
135,000
Cloud
Software
Group,
Inc.
(a)
............................................
6.50%
3/31/2029
131,088
180,000
Cloud
Software
Group,
Inc.
(a)
............................................
9.00%
9/30/2029
174,851
110,000
Cloud
Software
Group,
Inc.
(a)
............................................
6.63%
8/15/2033
95,457
245,000
Clydesdale
Acquisition
Holdings,
Inc.
(a)
.....................................
6.75%
4/15/2032
237,981
205,000
CNX
Midstream
Partners
LP
(a)
...........................................
4.75%
4/15/2030
195,526
170,000
CNX
Resources
Corp.
(a)
................................................
5.88%
3/1/2034
165,529
590,000
Columbus
McKinnon
Corp./NY
(a)
..........................................
7.13%
2/1/2033
591,728
260,000
CoreWeave,
Inc.
(a)
....................................................
9.25%
6/1/2030
261,880
110,000
Cougar
JV
Subsidiary
LLC
(a)
.............................................
8.00%
5/15/2032
115,375
470,000
CQP
Holdco
LP
/
BIP-V
Chinook
Holdco
LLC
(a)
................................
5.50%
6/15/2031
461,509
585,000
Crescent
Energy
Finance
LLC
(a)
..........................................
7.88%
4/15/2032
592,704
570,000
Dcli
Bidco
LLC
(a)
.....................................................
7.75%
11/15/2029
589,874
190,000
Dealer
Tire
Financial
LLC
(a)
.............................................
10.38%
10/1/2031
189,429
305,000
Dealer
Tire
LLC
/
DT
Issuer
LLC
(a)
.........................................
8.00%
2/1/2028
305,835
688,600
Dexko
Global,
Inc.
(a)
..................................................
7.50%
4/15/2032
568,782
580,000
Directv
Financing
LLC
(a)
................................................
8.88%
2/1/2030
591,016
12,000
Directv
Financing
LLC
/
Directv
Financing
Co.-Obligor,
Inc.
(a)
......................
5.88%
8/15/2027
11,990
375,000
Directv
Financing
LLC
/
Directv
Financing
Co.-Obligor,
Inc.
(a)
......................
9.25%
6/1/2032
381,291
265,000
Discovery
Global
Holdings,
Inc.
..........................................
4.05%
3/15/2029
262,525
105,000
Discovery
Global
Holdings,
Inc.
..........................................
4.28%
3/15/2032
94,287
180,000
Discovery
Global
Holdings,
Inc.
..........................................
5.05%
3/15/2042
132,088
505,000
DISH
DBS
Corp.
(a)(e)
..................................................
5.75%
12/1/2028
489,620
365,000
DISH
DBS
Corp.
(e)
....................................................
5.13%
6/1/2029
328,779
210,000
EchoStar
Corp.
......................................................
10.75%
11/30/2029
227,052
190,000
Ellucian
Holdings,
Inc.
(a)
................................................
6.50%
12/1/2029
184,139
320,000
EMRLD
Borrower
LP
/
Emerald
Co.-Issuer,
Inc.
(a)
..............................
6.63%
12/15/2030
327,547
280,000
Encompass
Health
Corp.
(a)
..............................................
5.88%
6/1/2034
279,615
195,000
Energizer
Holdings,
Inc.
(a)
..............................................
6.00%
9/15/2033
187,864
130,000
Fertitta
Entertainment
LLC
/
Fertitta
Entertainment
Finance
Co.,
Inc.
(a)
................
6.75%
1/15/2030
127,582
170,000
Flash
Compute
LLC
(a)
.................................................
7.25%
12/31/2030
175,010
70,000
FMC
Corp.
(a)
........................................................
8.00%
6/1/2031
72,904
195,000
Freedom
Mortgage
Holdings
LLC
(a)
........................................
8.38%
4/1/2032
198,496
115,000
Full
House
Resorts,
Inc.
(a)
..............................................
8.25%
2/15/2028
112,700
150,000
Gates
Corp./DE
(a)
....................................................
6.88%
7/1/2029
153,604
640,000
Genesee
&
Wyoming,
Inc.
(a)
.............................................
6.25%
4/15/2032
649,972
200,000
Genting
New
York
LLC
/
GENNY
Capital,
Inc.
(a)
...............................
7.25%
10/1/2029
205,837
290,000
Getty
Images,
Inc.
(a)
..................................................
10.50%
11/15/2030
242,035
500,000
GFL
Environmental
Holdings
US,
Inc.
(a)
.....................................
5.50%
2/1/2034
489,669
140,000
Goat
Holdco
LLC
(a)
...................................................
6.75%
2/1/2032
143,591
165,000
Goodyear
Tire
&
Rubber
Co.
............................................
5.25%
7/15/2031
146,950
80,000
GrafTech
Finance,
Inc.
(a)
...............................................
4.63%
12/23/2029
51,243
485,000
Graham
Holdings
Co.
(a)
................................................
5.63%
12/1/2033
482,129
295,000
Gray
Media,
Inc.
(a)
....................................................
9.63%
7/15/2032
284,979
255,000
Gray
Media,
Inc.
(a)
....................................................
7.25%
8/15/2033
251,315
415,000
Griffon
Corp.
.......................................................
5.75%
3/1/2028
415,305
150,000
Group
1
Automotive,
Inc.
(a)
..............................................
6.38%
1/15/2030
151,978
240,000
Gulfport
Energy
Operating
Corp.
(a)
........................................
6.75%
9/1/2029
245,079
305,000
Harvest
Midstream
I
LP
(a)
...............................................
7.50%
5/15/2032
316,077
220,000
Harvest
Midstream
I
LP
(a)
...............................................
6.75%
5/15/2034
223,238
155,000
Herc
Holdings,
Inc.
(a)
..................................................
7.00%
6/15/2030
160,619
110,000
Herc
Holdings,
Inc.
(a)
..................................................
5.75%
3/15/2031
109,947
110,000
Herc
Holdings,
Inc.
(a)
..................................................
6.00%
3/15/2034
109,382
250,000
Hightower
Holding
LLC
(a)
...............................................
6.75%
4/15/2029
250,242
330,000
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co.
(a)
..................................
7.25%
2/15/2035
325,122
320,000
Hilton
Domestic
Operating
Co.,
Inc.
(a)
......................................
5.75%
9/15/2033
321,357
195,000
HUB
International
Ltd.
(a)
................................................
7.25%
6/15/2030
200,218
150,000
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp.
..........................
5.25%
5/15/2027
148,338
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
24
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
65,000
iHeartCommunications,
Inc.
(a)
............................................
9.13%
5/1/2029
63,127
130,000
Industrial
F&B
Investments
III,
Inc.
(a)
.......................................
7.75%
2/11/2033
132,575
320,000
Installed
Building
Products,
Inc.
(a)
.........................................
5.63%
2/1/2034
318,431
200,000
ION
Platform
Finance
US,
Inc.
(a)
..........................................
7.88%
9/30/2032
145,159
275,000
ION
Platform
Finance
US,
Inc.
/
ION
Platform
Finance
Sarl
(a)
......................
5.00%
5/1/2028
252,883
195,000
IQVIA,
Inc.
(a)
........................................................
6.25%
6/1/2032
198,496
195,000
Iron
Mountain,
Inc.
(a)
..................................................
7.00%
2/15/2029
198,797
100,000
JetBlue
Airways
Corp.
/
JetBlue
Loyalty
LP
(a)
.................................
9.88%
9/20/2031
90,707
140,000
K
Hovnanian
Enterprises,
Inc.
(a)
..........................................
8.00%
4/1/2031
144,554
155,000
Kodiak
Gas
Services
LLC
(a)
.............................................
6.50%
10/1/2033
157,205
155,000
Kodiak
Gas
Services
LLC
(a)
.............................................
6.75%
10/1/2035
159,104
490,000
Lamar
Media
Corp.
(a)
..................................................
5.38%
11/1/2033
480,602
90,000
LBM
Acquisition
LLC
(a)
.................................................
9.50%
6/15/2031
80,254
16,000
Level
3
Financing,
Inc.
(a)
...............................................
3.75%
7/15/2029
15,500
475,000
Level
3
Financing,
Inc.
(a)
...............................................
6.88%
6/30/2033
488,326
155,000
LFS
Topco
LLC
(a)
....................................................
8.75%
7/15/2030
155,815
640,000
Life
Time,
Inc.
(a)
.....................................................
6.00%
11/15/2031
650,248
150,000
LifePoint
Health,
Inc.
(a)
.................................................
10.00%
6/1/2032
149,934
125,000
LifePoint
Health,
Inc.
(a)
.................................................
7.00%
5/1/2034
119,898
220,000
Light
&
Wonder
International,
Inc.
(a)
........................................
7.25%
11/15/2029
224,094
380,000
Light
&
Wonder
International,
Inc.
(a)
........................................
6.25%
10/1/2033
378,104
210,000
Lindblad
Expeditions
LLC
(a)
.............................................
7.00%
9/15/2030
217,254
460,000
M/I
Homes,
Inc.
.....................................................
4.95%
2/1/2028
458,189
550,000
Madison
IAQ
LLC
(a)
...................................................
5.88%
6/30/2029
550,616
180,000
Matador
Resources
Co.
(a)
...............................................
6.50%
4/15/2032
181,078
205,000
Matador
Resources
Co.
(a)
...............................................
6.00%
4/15/2034
199,982
210,000
Match
Group
Holdings
II
LLC
(a)
...........................................
5.00%
12/15/2027
209,400
90,000
Mavis
Tire
Express
Services
Topco
Corp.
(a)
..................................
6.50%
5/15/2029
89,687
65,000
McAfee
Corp.
(a)
......................................................
7.38%
2/15/2030
55,287
120,000
McGraw-Hill
Education,
Inc.
(a)
............................................
5.75%
8/1/2028
119,579
190,000
McGraw-Hill
Education,
Inc.
(a)
............................................
7.38%
9/1/2031
193,246
345,000
Medline
Borrower
LP
(a)
.................................................
5.25%
10/1/2029
343,066
265,000
Meridian
Arc
Holdco
LLC
(a)
..............................................
6.25%
4/30/2031
265,767
800,000
Michaels
Cos.,
Inc.
(a)
..................................................
8.50%
3/15/2033
792,868
160,000
Midwest
Gaming
Borrower
LLC
/
Midwest
Gaming
Finance
Corp.
(a)
..................
4.88%
5/1/2029
155,845
220,000
Miter
Brands
Acquisition
Holdco,
Inc.
/
MIWD
Borrower
LLC
(a)
.....................
6.75%
4/1/2032
218,244
150,000
Nabors
Industries,
Inc.
(a)
...............................................
9.13%
1/31/2030
156,846
215,000
Nabors
Industries,
Inc.
(a)
...............................................
7.63%
11/15/2032
220,119
85,000
Navient
Corp.
.......................................................
5.00%
3/15/2027
84,383
85,000
Navient
Corp.
.......................................................
7.88%
6/15/2032
79,659
90,000
NCL
Corp.
Ltd.
(a)
.....................................................
5.88%
1/15/2031
87,415
160,000
NCL
Corp.
Ltd.
(a)
.....................................................
6.25%
9/15/2033
155,482
215,000
Neptune
Bidco
US,
Inc.
(a)
...............................................
10.38%
5/15/2031
223,003
195,000
Newell
Brands,
Inc.
...................................................
6.38%
5/15/2030
197,783
260,000
Nexstar
Media,
Inc.
(a)
..................................................
6.50%
9/15/2033
260,157
105,000
Nexstar
Media,
Inc.
(a)
..................................................
7.25%
4/15/2034
104,837
90,000
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp.
(a)
.......................
8.13%
2/15/2029
93,207
160,000
Nissan
Motor
Acceptance
Co.
LLC
(a)
.......................................
5.63%
9/29/2028
159,745
150,000
Novelis
Corp.
(a)
......................................................
6.88%
1/30/2030
153,883
180,000
NRG
Energy,
Inc.
(a)
...................................................
6.00%
2/1/2033
181,030
70,000
NRG
Energy,
Inc.
(a)
...................................................
5.75%
1/15/2034
69,490
135,000
NRG
Energy,
Inc.
(a)
...................................................
6.13%
5/15/2036
135,121
565,000
OAK-Eagle
Acquireco,
Inc.
(a)
.............................................
7.25%
7/1/2033
591,358
125,000
OAK-Eagle
Acquireco,
Inc.
(a)
.............................................
8.75%
7/1/2034
132,740
110,000
Olin
Corp.
(a)
........................................................
6.63%
4/1/2033
108,753
200,000
Olympus
Water
US
Holding
Corp.
(a)
........................................
6.75%
8/1/2032
195,560
200,000
Olympus
Water
US
Holding
Corp.
(a)
........................................
7.25%
2/15/2033
197,945
220,000
OneMain
Finance
Corp.
................................................
6.63%
1/15/2028
223,364
190,000
OneMain
Finance
Corp.
................................................
6.13%
5/15/2030
190,138
155,000
OneMain
Finance
Corp.
................................................
7.50%
5/15/2031
160,228
225,000
OneMain
Finance
Corp.
................................................
6.50%
3/15/2033
221,584
190,000
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.
(a)
......................
7.38%
2/15/2031
198,175
170,000
Panther
Escrow
Issuer
LLC
(a)
............................................
7.13%
6/1/2031
169,559
275,000
Par
Petroleum
LLC
(a)
..................................................
7.38%
6/1/2034
278,448
245,000
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co.-Issuer
(a)
...
7.00%
2/1/2030
251,000
110,000
PBF
Holding
Co.
LLC
/
PBF
Finance
Corp.
(a)
.................................
7.25%
6/1/2034
108,970
175,000
Penn
Entertainment,
Inc.
(a)
..............................................
6.75%
4/1/2031
176,019
110,000
PennyMac
Financial
Services,
Inc.
(a)
.......................................
4.25%
2/15/2029
105,098
120,000
PennyMac
Financial
Services,
Inc.
(a)
.......................................
7.88%
12/15/2029
124,872
105,000
PennyMac
Financial
Services,
Inc.
(a)
.......................................
6.88%
5/15/2032
102,847
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
25
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
125,000
Performance
Food
Group,
Inc.
(a)
..........................................
5.63%
3/1/2034
122,773
500,000
PetSmart
LLC
/
PetSmart
Finance
Corp.
(a)
...................................
7.50%
9/15/2032
500,469
250,000
PetSmart
LLC
/
PetSmart
Finance
Corp.
(a)
...................................
10.00%
9/15/2033
250,575
165,000
PODS
LLC
(a)
........................................................
8.75%
5/15/2031
161,629
185,000
Post
Holdings,
Inc.
(a)
..................................................
6.38%
3/1/2033
183,669
25,000
Post
Holdings,
Inc.
(a)
..................................................
6.25%
10/15/2034
24,578
215,000
PR
RNO
Property
Owner
1
LLC
(a)
.........................................
6.50%
5/1/2031
214,838
60,000
Prestige
Brands,
Inc.
..................................................
6.25%
7/15/2034
60,000
515,000
Primo
Water
Holdings,
Inc.
/
Triton
Water
Holdings,
Inc.
(a)
........................
6.25%
4/1/2029
517,256
125,000
Qnity
Electronics,
Inc.
(a)
................................................
6.25%
8/15/2033
127,336
720,000
Quikrete
Holdings,
Inc.
(a)
...............................................
6.75%
3/1/2033
734,316
220,000
QXO
Building
Products,
Inc.
(a)
............................................
6.50%
7/15/2031
224,340
190,000
QXO
Building
Products,
Inc.
(a)
............................................
6.75%
4/30/2032
196,305
220,000
QXO
Building
Products,
Inc.
(a)
............................................
6.88%
7/15/2034
225,979
35,000
Radiate
Holdco
LLC
/
Radiate
Finance,
Inc.
(a)
.................................
4.50%
9/15/2026
34,650
93,840
Radiology
Partners,
Inc.
(9.78%
PIK)
(a)
.....................................
9.78%
2/15/2030
93,253
175,000
Radiology
Partners,
Inc.
(a)
..............................................
8.50%
7/15/2032
182,849
245,000
RHP
Hotel
Properties
LP
/
RHP
Finance
Corp.
(a)
...............................
6.50%
6/15/2033
251,526
205,000
RHP
Hotel
Properties
LP
/
RHP
Finance
Corp.
(a)
...............................
5.75%
3/15/2034
203,217
165,000
Rivers
Enterprise
Borrower
LLC
(a)
.........................................
6.25%
10/15/2030
167,156
410,000
Rivers
Enterprise
Borrower
LLC
/
Rivers
Enterprise
Finance
Corp.
(a)
.................
6.63%
2/1/2033
416,376
145,000
Rocket
Cos.,
Inc.
(a)
...................................................
6.13%
8/1/2030
147,559
145,000
Rocket
Cos.,
Inc.
(a)
...................................................
6.38%
8/1/2033
147,641
36,000
Rocket
Cos.,
Inc.
(a)
...................................................
6.50%
6/15/2034
36,969
335,000
Rockies
Express
Pipeline
LLC
(a)
..........................................
6.75%
3/15/2033
344,511
105,000
Sabre
Financial
Borrower
LLC
(a)
..........................................
11.13%
6/15/2029
110,910
84,000
Sabre
GLBL,
Inc.
(a)
...................................................
10.75%
11/15/2029
80,770
115,000
Sabre
GLBL,
Inc.
(a)
...................................................
10.75%
3/15/2030
109,794
760,000
SE
Cosmos
LLC
(a)
....................................................
8.88%
5/1/2031
781,962
170,000
Select
Medical
Corp.
(a)
.................................................
6.25%
12/1/2032
165,257
205,000
Service
Properties
Trust
(a)
..............................................
0.00%
9/30/2027
190,335
105,000
Service
Properties
Trust
................................................
8.88%
6/15/2032
108,177
360,000
SM
Energy
Co.
(a)
.....................................................
7.00%
8/1/2032
363,558
315,000
Solstice
Advanced
Materials,
Inc.
(a)
........................................
5.63%
9/30/2033
313,205
115,000
Standard
Building
Solutions,
Inc.
(a)
........................................
6.50%
8/15/2032
115,770
450,000
Standard
Building
Solutions,
Inc.
(a)
........................................
6.25%
8/1/2033
447,268
215,000
Standard
Building
Solutions,
Inc.
(a)
........................................
5.88%
3/15/2034
207,390
620,000
Staples,
Inc.
(a)
.......................................................
10.75%
9/1/2029
591,950
70,000
Star
Leasing
Co.
LLC
(a)
................................................
7.63%
2/15/2030
69,227
270,000
Starwood
Property
Trust,
Inc.
(a)
...........................................
5.25%
10/15/2028
268,926
140,000
Starwood
Property
Trust,
Inc.
(a)
...........................................
7.25%
4/1/2029
144,721
155,000
Starwood
Property
Trust,
Inc.
(a)
...........................................
6.00%
4/15/2030
155,659
25,000
Starz
Capital
Holdings
LLC
(a)
............................................
5.50%
4/15/2029
22,728
330,000
Station
Casinos
LLC
(a)
.................................................
6.63%
3/15/2032
335,315
166,000
Stingray
Compute
LLC
(a)
...............................................
6.00%
6/15/2031
166,535
260,000
SV
RNO
Property
Owner
1
LLC
(a)
.........................................
5.88%
3/1/2031
256,417
40,000
SWF
Holdings
I
Corp.
(a)
................................................
6.50%
10/1/2029
4,200
220,000
Synergy
Infrastructure
Holdings
LLC
(a)
......................................
7.00%
7/15/2034
223,281
135,000
Talen
Energy
Supply
LLC
(a)
.............................................
6.25%
2/1/2034
134,236
190,000
Tallgrass
Energy
Partners
LP
/
Tallgrass
Energy
Finance
Corp.
(a)
...................
7.38%
2/15/2029
195,575
90,000
Tallgrass
Energy
Partners
LP
/
Tallgrass
Energy
Finance
Corp.
(a)
...................
6.75%
3/15/2034
91,067
320,000
Taylor
Morrison
Communities,
Inc.
(a)
.......................................
5.75%
11/15/2032
329,727
380,000
Teleflex,
Inc.
(a)
.......................................................
5.88%
1/15/2032
383,347
220,000
Tenet
Healthcare
Corp.
................................................
6.13%
6/15/2030
221,887
55,000
Tenet
Healthcare
Corp.
(a)
...............................................
5.50%
11/15/2032
54,717
55,000
Tenet
Healthcare
Corp.
(a)
...............................................
6.00%
11/15/2033
55,520
215,000
TransDigm,
Inc.
(a)
....................................................
6.88%
12/15/2030
221,101
280,000
TransDigm,
Inc.
(a)
....................................................
6.38%
5/31/2033
282,851
130,000
TransDigm,
Inc.
(a)
....................................................
6.75%
1/31/2034
133,435
130,000
TransDigm,
Inc.
(a)
....................................................
6.25%
1/31/2034
132,758
70,000
Transocean
International
Ltd.
(a)
...........................................
7.88%
10/15/2032
73,113
95,000
Trident
TPI
Holdings,
Inc.
(a)
..............................................
12.75%
12/31/2028
95,241
615,000
UKG,
Inc.
(a)
........................................................
6.88%
2/1/2031
597,859
500,000
United
Airlines
Holdings,
Inc.
............................................
5.38%
3/1/2031
497,034
908,000
United
Natural
Foods,
Inc.
(a)
.............................................
6.75%
10/15/2028
908,682
505,000
United
Rentals
North
America,
Inc.
(a)
.......................................
5.38%
11/15/2033
497,777
375,000
Uniti
Group
LP
/
Uniti
Group
Finance
2019,
Inc.
/
CSL
Capital
LLC
(a)
.................
8.63%
6/15/2032
391,523
65,000
Uniti
Group
LP
/
Uniti
Group
Finance
2019,
Inc.
/
CSL
Capital
LLC
(a)
.................
8.63%
6/15/2032
67,864
215,000
Uniti
Services
LLC
(a)
..................................................
7.50%
10/15/2033
226,406
310,000
Univision
Communications,
Inc.
(a)
.........................................
8.50%
7/31/2031
311,577
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
26
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
90,000
Upbound
Group,
Inc.
(a)
.................................................
6.38%
2/15/2029
89,270
335,000
US
Foods,
Inc.
(a)
.....................................................
5.75%
4/15/2033
335,635
435,000
Vail
Resorts,
Inc.
(a)
...................................................
6.50%
5/15/2032
443,291
360,000
Venture
Global
LNG,
Inc.
(a)
..............................................
8.38%
6/1/2031
374,869
80,000
Venture
Global
LNG,
Inc.
(a)
..............................................
9.88%
2/1/2032
85,437
170,000
Venture
Global
LNG,
Inc.
(a)
..............................................
6.38%
12/15/2034
167,170
110,000
Venture
Global
LNG,
Inc.
(a)
..............................................
6.63%
6/15/2036
108,488
165,000
Venture
Global
Plaquemines
LNG
LLC
(a)
....................................
6.13%
12/15/2030
168,900
50,000
Venture
Global
Plaquemines
LNG
LLC
(a)
....................................
7.50%
5/1/2033
54,898
300,000
Venture
Global
Plaquemines
LNG
LLC
(a)
....................................
6.50%
1/15/2034
312,733
150,000
Veritiv
Operating
Co.
(a)
.................................................
10.50%
11/30/2030
153,598
1,435,000
Victra
Holdings
LLC
/
Victra
Finance
Corp.
(a)
..................................
8.75%
9/15/2029
1,481,140
1,455,000
Viking
Cruises
Ltd.
(a)
..................................................
5.88%
10/15/2033
1,457,992
180,000
VoltaGrid
LLC
(a)
.....................................................
7.38%
11/1/2030
186,958
299,000
Voyager
Parent
LLC
(a)
.................................................
9.25%
7/1/2032
316,382
130,000
VT
Topco,
Inc.
(a)
.....................................................
8.50%
8/15/2030
132,003
180,000
Walker
&
Dunlop,
Inc.
(a)
................................................
6.63%
4/1/2033
182,969
630,000
Wand
NewCo
3,
Inc.
(a)
.................................................
7.63%
1/30/2032
651,956
480,000
Watco
Cos.
LLC
/
Watco
Finance
Corp.
(a)
....................................
7.13%
8/1/2032
493,184
120,000
Wayfair
LLC
(a)
.......................................................
7.25%
10/31/2029
123,932
210,000
Wayfair
LLC
(a)
.......................................................
6.75%
11/15/2032
215,822
265,000
WBI
Operating
LLC
(a)
..................................................
6.50%
10/15/2033
266,803
315,000
Weatherford
International
Ltd.
(a)
..........................................
6.75%
10/15/2033
321,568
285,000
WESCO
Distribution,
Inc.
(a)
..............................................
6.38%
3/15/2033
292,619
180,000
WESCO
Distribution,
Inc.
(a)
..............................................
5.50%
4/15/2034
178,512
165,000
Whirlpool
Corp.
(a)
....................................................
7.50%
7/1/2031
167,384
145,000
Whirlpool
Corp.
......................................................
6.50%
6/15/2033
125,871
150,000
Windstream
Services
LLC
/
Windstream
Escrow
Finance
Corp.
(a)
...................
8.25%
10/1/2031
158,263
245,000
WR
Grace
Holdings
LLC
(a)
..............................................
5.63%
8/15/2029
230,471
630,000
XHR
LP
(a)
..........................................................
6.63%
5/15/2030
645,326
215,000
XPO,
Inc.
(a)
.........................................................
7.13%
6/1/2031
222,491
Total
US
Corporate
Bonds
(Cost
$71,010,203)
71,271,509
US
GOVERNMENT
AND
AGENCY
MORTGAGE
BACKED
OBLIGATIONS
-
11.8%
Federal
Home
Loan
Mortgage
Corp.
3,934,450
Pool
RJ1071
.......................................................
6.00%
3/1/2054
4,094,411
2,562,558
Pool
SD5964
.......................................................
5.50%
11/1/2053
2,609,421
4,903,110
Pool
SL0223
.......................................................
5.50%
2/1/2055
4,979,368
3,581,520
Pool
SL2456
.......................................................
5.50%
8/1/2055
3,613,120
6,894,442
Pool
SL5694
.......................................................
6.00%
2/1/2056
7,100,394
6,751,141
Series
386-C23
(b)
....................................................
3.00%
3/15/2052
1,234,463
386,234
Series
3926-HS
(-1
x
30
day
avg
SOFR
US
+
6.34%,
0.00%
Floor,
6.45%
Cap)
(b)(j)
.......
2.74%
9/15/2041
29,563
1,104,990
Series
4981-GF
(30
day
avg
SOFR
US
+
0.51%,
0.40%
Floor,
6.50%
Cap)
............
4.14%
6/25/2050
1,087,045
3,023,684
Series
5020-IH
(b)
.....................................................
3.00%
8/25/2050
515,299
3,583,690
Series
5031-IQ
(b)
.....................................................
2.50%
10/25/2050
561,204
11,030,265
Series
5038-IQ
(b)
.....................................................
2.50%
10/25/2050
1,771,414
4,149,495
Series
5115-IB
(b)
.....................................................
3.00%
2/25/2051
752,741
8,814,855
Series
5142-QI
(b)
.....................................................
3.00%
9/25/2051
1,382,831
10,432,363
Series
5163-GI
(b)
.....................................................
3.00%
3/25/2050
1,807,899
7,203,651
Series
5181-EI
(b)
.....................................................
2.50%
5/25/2050
962,286
3,156,162
Series
5524-AF
(30
day
avg
SOFR
US
+
1.20%,
1.20%
Floor,
6.50%
Cap)
............
4.83%
4/25/2055
3,175,156
2,699,979
Series
5524-FB
(30
day
avg
SOFR
US
+
1.20%,
1.20%
Floor,
6.50%
Cap)
............
4.83%
4/25/2055
2,718,838
988,665
Series
5527-FD
(30
day
avg
SOFR
US
+
1.20%,
1.20%
Floor,
6.50%
Cap)
............
4.83%
9/25/2054
995,147
10,312,055
Series
5531-AI
(b)
.....................................................
3.50%
6/25/2041
1,236,819
7,290,628
Series
5632-CF
(30
day
avg
SOFR
US
+
0.95%,
0.95%
Floor,
6.00%
Cap)
............
4.58%
2/25/2056
7,281,192
2,958,229
Series
5646-FB
(30
day
avg
SOFR
US
+
1.00%,
1.00%
Floor,
6.00%
Cap)
............
4.63%
6/25/2055
2,950,851
Federal
National
Mortgage
Association
7,070,600
Pool
CB5603
.......................................................
6.00%
2/1/2053
7,254,952
2,837,691
Pool
CB7268
.......................................................
6.00%
10/1/2053
2,946,822
2,301,394
Pool
CB7996
.......................................................
6.00%
2/1/2054
2,394,633
3,592,936
Pool
CB8845
.......................................................
5.50%
7/1/2054
3,652,441
7,509,193
Pool
CB9973
.......................................................
5.50%
2/1/2055
7,598,862
4,137,585
Pool
FA3995
.......................................................
5.50%
1/1/2055
4,190,037
6,962,652
Pool
FA4817
.......................................................
6.00%
9/1/2054
7,168,069
6,010,604
Pool
FA5897
.......................................................
6.00%
6/1/2056
6,186,267
3,826,362
Pool
FS6422
.......................................................
6.00%
11/1/2053
4,004,594
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
27
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
3,179,024
Pool
FS7252
.......................................................
5.00%
11/1/2053
3,145,737
1,715,030
Pool
FS7738
.......................................................
6.00%
3/1/2054
1,794,913
2,323,622
Pool
FS8152
.......................................................
6.00%
6/1/2054
2,395,424
4,395,561
Pool
MA5010
.......................................................
5.50%
5/1/2053
4,442,989
5,728,824
Pool
MA5107
.......................................................
5.50%
8/1/2053
5,776,259
5,992,668
Series
2017-11-SK
(-1
x
30
day
avg
SOFR
US
+
5.94%,
0.00%
Floor,
6.05%
Cap)
(b)(j)
.....
2.31%
3/25/2047
618,678
19,140,207
Series
2019-M7-X
(b)(c)
.................................................
0.44%
4/25/2029
153,200
4,078,147
Series
2020-15-ID
(b)
..................................................
3.00%
3/25/2050
674,594
5,881,734
Series
2020-54-AS
(-1
x
30
day
avg
SOFR
US
+
6.04%,
0.00%
Floor,
6.15%
Cap)
(b)(j)
.....
2.41%
8/25/2050
637,428
3,274,305
Series
2020-84-LI
(b)
...................................................
2.50%
12/25/2050
496,739
4,651,232
Series
2020-88-PI
(b)
...................................................
2.50%
12/25/2050
738,842
7,078,961
Series
2021-32-AI
(b)
...................................................
3.00%
5/25/2046
880,557
2,447,996
Series
2021-3-QI
(b)
...................................................
2.50%
2/25/2051
386,510
10,560,312
Series
2021-3-TI
(b)
....................................................
2.50%
2/25/2051
1,759,124
6,735,679
Series
2021-42-IA
(b)
...................................................
3.00%
2/25/2051
962,881
3,386,891
Series
2022-68-FB
(30
day
avg
SOFR
US
+
0.87%,
0.87%
Floor,
6.00%
Cap)
..........
4.50%
10/25/2052
3,367,610
4,239,389
Series
2022-86-IO
(b)
..................................................
2.50%
5/25/2050
585,579
1,702,561
Series
2024-76-FD
(30
day
avg
SOFR
US
+
1.25%,
1.25%
Floor,
6.50%
Cap)
..........
4.88%
11/25/2054
1,714,560
2,529,693
Series
2026-10-FA
(30
day
avg
SOFR
US
+
0.95%,
0.95%
Floor,
6.00%
Cap)
..........
4.58%
10/25/2054
2,521,102
6,250,000
Series
2026-54-FC
(30
day
avg
SOFR
US
+
0.90%,
0.90%
Floor,
7.00%
Cap)
..........
4.49%
7/25/2056
6,255,216
9,631,544
Series
426-C54
(b)
....................................................
2.50%
3/25/2052
1,423,574
5,189,456
Series
427-C7
(b)
.....................................................
2.50%
8/25/2035
387,560
14,749,319
Series
431-C10
(b)
....................................................
2.00%
4/25/2042
1,408,843
9,172,629
Series
431-C34
(b)
....................................................
1.50%
6/25/2037
468,367
7,920,029
Series
434-C35
(b)
....................................................
3.00%
10/25/2052
1,392,530
17,108,310
Series
437-C1
(b)
.....................................................
1.50%
5/25/2037
890,535
FREMF
Mortgage
Trust
700,066
Series
2017-KF30-B
(30
day
avg
SOFR
US
+
3.36%,
3.25%
Floor)
(a)
................
6.96%
3/25/2027
698,962
1,584,300
Series
2019-KF71-C
(30
day
avg
SOFR
US
+
6.11%,
6.00%
Floor)
(a)
................
9.71%
10/25/2029
1,537,713
Government
National
Mortgage
Association
6,244,968
Series
2019-128-KS
(-1
x
1
mo.
Term
SOFR
+
2.74%,
0.00%
Floor,
2.85%
Cap)
(b)(j)
......
0.00%
10/20/2049
20,230
5,460,073
Series
2020-104-SB
(-1
x
1
mo.
Term
SOFR
+
6.04%,
0.00%
Floor,
6.15%
Cap)
(b)(j)
......
2.40%
7/20/2050
639,372
11,779,206
Series
2020-115-YS
(-1
x
1
mo.
Term
SOFR
+
4.09%,
0.00%
Floor,
4.20%
Cap)
(b)(j)
......
0.45%
8/20/2050
435,891
22,952,464
Series
2020-129-SA
(-1
x
1
mo.
Term
SOFR
+
3.64%,
0.00%
Floor,
3.75%
Cap)
(b)(j)
......
0.00%
9/20/2050
177,407
29,533,533
Series
2020-146-IJ
(b)
..................................................
2.50%
10/20/2050
4,417,859
2,811,865
Series
2020-154-MI
(b)
.................................................
3.00%
10/20/2050
446,175
12,051,355
Series
2020-189-SU
(-1
x
1
mo.
Term
SOFR
+
6.19%,
0.00%
Floor,
6.30%
Cap)
(b)(j)
......
2.55%
12/20/2050
1,562,051
7,042,378
Series
2020-196-DI
(b)
..................................................
2.50%
12/20/2050
962,743
3,882,809
Series
2021-116-XI
(b)
..................................................
3.50%
3/20/2051
705,597
10,489,559
Series
2021-138-NI
(b)
..................................................
3.00%
8/20/2051
1,259,932
9,942,550
Series
2021-193-DS
(-1
x
30
day
avg
SOFR
US
+
2.60%,
0.00%
Floor,
2.60%
Cap)
(b)(j)
....
0.00%
11/20/2051
21,288
4,600,044
Series
2021-199-KI
(b)
..................................................
3.50%
11/20/2051
773,877
6,576,922
Series
2021-1-SH
(-1
x
1
mo.
Term
SOFR
+
6.19%,
0.00%
Floor,
6.30%
Cap)
(b)(j)
........
2.55%
1/20/2051
817,877
4,903,202
Series
2021-206-AI
(b)
..................................................
3.50%
11/20/2051
899,387
6,311,950
Series
2021-209-IP
(b)
..................................................
3.00%
11/20/2051
597,684
62,196,065
Series
2021-213-ES
(-1
x
30
day
avg
SOFR
US
+
1.70%,
0.00%
Floor,
1.70%
Cap)
(b)(j)
....
0.00%
12/20/2051
1,337
4,652,575
Series
2021-221-AI
(b)
..................................................
3.50%
12/20/2051
823,185
25,882,470
Series
2021-35-IO
(b)(c)
.................................................
1.03%
12/16/2062
1,836,762
5,125,343
Series
2021-98-KI
(b)
...................................................
3.00%
6/20/2051
837,144
2,601,941
Series
2022-137-IO
(b)
.................................................
3.00%
1/20/2052
329,874
45,775,125
Series
2022-192-IO
(b)(c)
................................................
0.67%
9/16/2064
2,339,979
10,599,428
Series
2022-88-AI
(b)
...................................................
3.00%
9/20/2051
1,251,097
7,719,995
Series
2022-9-MI
(b)
...................................................
3.50%
1/20/2052
916,997
23,668,069
Series
2023-15-IO
(b)(c)
.................................................
0.92%
8/16/2064
1,535,475
8,355,054
Series
2023-172-IO
(b)(c)
................................................
1.33%
2/16/2066
740,322
25,414,843
Series
2023-33-IO
(b)(c)
.................................................
0.93%
5/16/2063
1,762,923
10,335,316
Series
2024-158-IO
(b)(c)
................................................
1.08%
12/16/2065
780,467
45,434,166
Series
2024-15-BI
(b)(c)
.................................................
0.73%
10/16/2065
2,480,874
8,380,824
Series
2024-170-AI
(b)(c)
.................................................
0.76%
10/16/2065
497,596
7,137,582
Series
2024-170-IO
(b)(c)
................................................
0.89%
3/16/2066
505,883
4,545,390
Series
2024-174-HI
(b)
..................................................
3.00%
5/20/2051
658,674
2,861,294
Series
2024-24-DI
(b)
..................................................
3.50%
11/20/2051
498,215
41,588,396
Series
2024-35-IB
(b)(c)
.................................................
0.79%
7/16/2065
2,426,670
3,389,224
Series
2024-6-BI
(b)
...................................................
3.00%
12/20/2051
484,113
10,379,959
Series
2025-149-IO
(b)
.................................................
2.50%
7/20/2051
1,527,556
25,150,210
Series
2025-191-IO
(b)(c)
................................................
0.77%
7/16/2068
1,766,988
24,863,659
Series
2025-202-IO
(b)(c)
................................................
0.72%
9/16/2067
1,754,972
19,405,939
Series
2025-36-IO
(b)(c)
.................................................
0.84%
7/16/2066
1,344,901
8,244,546
Series
2025-48-IO
(b)
..................................................
2.50%
10/20/2051
1,173,157
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
28
PRINCIPAL
AMOUNT
$
SECURITY
DESCRIPTION
RATE
MATURITY
VALUE
$
a
a
a
a
a
9,605,853
Series
2025-54-IO
(b)(c)
.................................................
0.63%
8/16/2067
523,789
26,510,526
Series
2025-77-IO
(b)(c)
.................................................
0.79%
3/16/2066
1,871,603
12,165,233
Series
2025-81-IO
(b)
..................................................
2.50%
6/20/2051
1,640,953
14,045,574
Series
2025-92-IO
(b)(c)
.................................................
0.55%
5/16/2067
766,932
10,438,176
Series
2026-18-IO
(b)(c)
.................................................
0.78%
7/16/2068
772,108
25,677,912
Series
2026-54-IO
(b)(c)
.................................................
0.89%
2/16/2067
2,066,638
Total
US
Government
and
Agency
Mortgage
Backed
Obligations
(Cost
$198,301,089)
193,426,719
US
GOVERNMENT
AND
AGENCY
OBLIGATIONS
-
13.6%
42,900,000
United
States
Treasury
Bill
.............................................
0.00%
7/9/2026
42,865,380
60,000,000
United
States
Treasury
Bill
.............................................
0.00%
7/28/2026
59,837,606
15,027,376
United
States
Treasury
Inflation
Indexed
Bonds
...............................
2.38%
1/15/2027
14,990,017
31,020,061
United
States
Treasury
Inflation
Indexed
Notes
...............................
0.13%
4/15/2027
30,416,571
30,353,400
United
States
Treasury
Inflation
Indexed
Notes
...............................
1.63%
10/15/2027
30,212,457
30,000,000
United
States
Treasury
Notes
...........................................
0.75%
1/31/2028
28,442,578
20,000,000
United
States
Treasury
Notes
...........................................
0.88%
11/15/2030
17,370,312
Total
US
Government
and
Agency
Obligations
(Cost
$225,082,321)
224,134,921
SHARES
COMMON
STOCKS
-
0.0%
(k)
5,652
Altice
France/Luxco
3
(d)(l)
...............................................
113,015
711
Stichting
Administratiekantoor
ADR
(d)(l)
......................................
–
261
Stichting
Administratiekantoor
Unigel
Creditors
(d)(l)
..............................
–
Total
Common
Stocks
(Cost
$183,770)
113,015
ESCROW
NOTES
-
0.0%
(k)
600,000
Credito
Real
SAB
de
CV
SOFOM
ER
(l)
.....................................
5,250
Total
Escrow
Notes
(Cost
$580,750)
5,250
AFFILIATED
MUTUAL
FUNDS
-
4.6%
7,870,652
DoubleLine
Emerging
Markets
Local
Currency
Bond
Fund
-
Class
I
.................
75,400,850
Total
Affiliated
Mutual
Funds
(Cost
$73,600,000)
75,400,850
R
ATE
SHORT
TERM
INVESTMENTS
-
4.7%
26,500,266
BNY
Dreyfus
Government
Cash
Management
-
Institutional
(m)
.....................
3.54%
26,500,266
25,720,847
MSILF
Government
Portfolio
-
Institutional
(m)
.................................
3.56%
25,720,847
25,720,847
Northern
Institutional
Funds
-Treasury
Portfolio
-
SHR
(m)
.........................
3.56%
25,720,847
Total
Short
Term
Investments
(Cost
$77,941,960)
77,941,960
Total
Investments
-
102.1%
(Cost
$1,748,655,020)
1,680,222,136
Other
Liabilities
in
Excess
of
Assets
-
(2.1)%
(34,826,311)
NET
ASSETS
-
100.0%
$1,645,395,825
(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.
As
of
June
30,
2026,
the
value
of
these
securities
total
799,565,164
or
48.59%
of
the
Fund’s
net
assets.
(b)
Interest
only
security
(c)
Coupon
rate
is
variable
based
on
the
weighted
average
coupon
of
the
underlying
collateral.
To
the
extent
the
weighted
average
coupon
of
the
underlying
assets
which
comprise
the
collateral
increases
or
decreases,
the
coupon
rate
of
this
security
will
increase
or
decrease
correspondingly.
The
rate
disclosed
is
as
of
period
end.
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
29
(d)
Value
determined
using
significant
unobservable
inputs.
(e)
Security
is
in
default
or
has
failed
to
make
a
scheduled
payment.
(f)
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.
(g)
Security
has
reached
its
original
contractual
maturity
date
but
remains
outstanding
as
of
June
30,
2026.
The
maturity
date
reflected
is
the
original
contractual
maturity
date.
(h)
Perpetual
maturity.
The
date
disclosed
is
the
next
call
date
of
the
security.
(i)
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.
(j)
Inverse
floating
rate
security
whose
interest
rate
moves
in
the
opposite
direction
of
reference
interest
rates.
Reference
interest
rates
are
typically
based
on
a
negative
multiplier
or
slope.
Interest
rate
may
also
be
subject
to
a
cap
or
floor.
(k)
Represents
less
than
0.05%
of
net
assets.
(l)
Non-income
producing
security.
(m)
Seven-day
yield
as
of
period
end.
CMT
Constant
Maturity
Treasury
Rate
MSILF
Morgan
Stanley
Institutional
Liquidity
Funds
PIK
A
payment-in-kind
security
in
which
the
issuer
may
make
interest
or
dividend
payments
in
cash
or
additional
securities.
These
additional
securities
generally
have
the
same
terms
as
the
original
holdings.
SOFR
Secured
Overnight
Financing
Rate
INVESTMENT
BREAKDOWN
as
a
%
of
Net
Assets:
Non-Agency
Residential
Collateralized
Mortgage
Obligations
..............................................................
17.7‌%
US
Government
and
Agency
Obligations
............................................................................
13.6‌%
Non-Agency
Commercial
Mortgage
Backed
Obligations
.................................................................
12.6‌%
Collateralized
Loan
Obligations
..................................................................................
12.5‌%
US
Government
and
Agency
Mortgage
Backed
Obligations
...............................................................
11.8‌%
Asset
Backed
Obligations
......................................................................................
5.6‌%
Short
Term
Investments
........................................................................................
4.7‌%
Affiliated
Mutual
Funds
........................................................................................
4.6‌%
Foreign
Government
Bonds,
Foreign
Agencies
and
Foreign
Government
Sponsored
Corporations
....................................
1.7‌%
Commercial
Services
.........................................................................................
1.4‌%
Electric
...................................................................................................
1.1‌%
Retail
....................................................................................................
1.0‌%
Banks
....................................................................................................
1.0‌%
Software
..................................................................................................
0.9‌%
Pipelines
..................................................................................................
0.8‌%
Media
....................................................................................................
0.8‌%
Entertainment
...............................................................................................
0.8‌%
Diversified
Financial
Services
....................................................................................
0.7‌%
Insurance
..................................................................................................
0.7‌%
Oil
&
Gas
..................................................................................................
0.5‌%
Telecommunications
..........................................................................................
0.5‌%
Leisure
Time
...............................................................................................
0.5‌%
Mining
....................................................................................................
0.5‌%
Building
Materials
............................................................................................
0.4‌%
Healthcare-Services
..........................................................................................
0.4‌%
Food
.....................................................................................................
0.3‌%
Healthcare-Products
..........................................................................................
0.3‌%
Transportation
..............................................................................................
0.3‌%
Aerospace/Defense
...........................................................................................
0.3‌%
Chemicals
.................................................................................................
0.3‌%
Engineering
&
Construction
.....................................................................................
0.3‌%
Pharmaceuticals
.............................................................................................
0.3‌%
Distribution/Wholesale
.........................................................................................
0.3‌%
Packaging
&
Containers
.......................................................................................
0.2‌%
Home
Furnishings
............................................................................................
0.2‌%
Auto
Parts
&
Equipment
........................................................................................
0.2‌%
REITS
....................................................................................................
0.2‌%
Iron/Steel
..................................................................................................
0.2‌%
Internet
...................................................................................................
0.2‌%
Machinery-Diversified
.........................................................................................
0.1‌%
Lodging
...................................................................................................
0.1‌%
Advertising
.................................................................................................
0.1‌%
Environmental
Control
.........................................................................................
0.1‌%
Home
Builders
..............................................................................................
0.1‌%
Oil
&
Gas
Services
...........................................................................................
0.1‌%
Biotechnology
...............................................................................................
0.1‌%
Electronics
.................................................................................................
0.1‌%
Metal
Fabricate/Hardware
......................................................................................
0.1‌%
Cosmetics/Personal
Care
......................................................................................
0.1‌%
Electrical
Components
&
Equipments
..............................................................................
0.1‌%
DoubleLine
Flexible
Income
Fund
Schedule
of
Investments
(Continued)
June
30,
2026
(Unaudited)
30
Airlines
...................................................................................................
0.1‌%
Energy-Alternate
Sources
......................................................................................
0.1‌%
Real
Estate
................................................................................................
0.1‌%
Auto
Manufacturers
...........................................................................................
0.1‌%
Beverages
.................................................................................................
0.1‌%
Investment
Companies
........................................................................................
0.1‌%
Forest
Products
&
Paper
.......................................................................................
0.0‌%
(a)
Gas
......................................................................................................
0.0‌%
(a)
Agriculture
.................................................................................................
0.0‌%
(a)
Machinery-Construction
&
Mining
.................................................................................
0.0‌%
(a)
Apparel
...................................................................................................
0.0‌%
(a)
Computers
.................................................................................................
0.0‌%
(a)
Household
Products/Wares
.....................................................................................
0.0‌%
(a)
Housewares
................................................................................................
0.0‌%
(a)
Hand/Machine
Tools
..........................................................................................
0.0‌%
(a)
Escrow
Notes
...............................................................................................
0.0‌%
(a)
Other
Assets
and
Liabilities
.....................................................................................
(2.1‌)%
Net
Assets
.................................................................................................
100.0‌%
(a)
Represents
less
than
0.05%
of
net
assets.
A
summary
of
the
DoubleLine
Flexible
Income
Fund's
investments
in
affiliated
mutual
funds
for
the
period
ended
June
30,
2026
is
as
follows:
Fund
Value
at
March
31,
2026
Gross
Purchases
Gross
Sales
Net
Realized
Gain
(Loss)
for
the
Period
Ended
June
30,
2026
Change
in
Unrealized
for
the
Period
Ended
June
30,
2026
Value
at
June
30,
2026
Shares
Held
at
June
30,
2026
Dividend
Income
Earned
for
the
Period
Ended
June
30,
2026
DoubleLine
Emerging
Markets
Local
Currency
Bond
Fund
-
Class
I
$
66,572,775‌
$
7,000,000‌
$
–‌
$
–‌
$
1,828,075‌
$
75,400,850‌
7,870,652
$
1,104,985‌
a
a