DoubleLine ETF Trust NPORT-P DoubleLine Opportunistic Bond ETF (Jun 2022 report)

Schedule

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Unaudited)

June

30,

2022

|

June

30,

2022

1

P

RINCIPAL

A

MOUNT

$/

S

HARES

S

ECURITY

D

ESCRIPTION

R

ATE

M

ATURITY

V

ALUE

$

ASSET

BACKED

OBLIGATIONS

14.7%

Affirm

Asset

Securitization

Trust

,

750,000

Series

2022-A-A

4.30%

(a)

05/17/2027

738,743

Diamond

Resorts

Owner

Trust

,

265,960

Series

2021-1A-A

1.51%

(a)

11/21/2033

249,353

EWC

Master

Issuer

LLC

,

500,000

Series

2022-1A-A2

5.50%

(a)

03/15/2052

489,065

Hilton

Grand

Vacations

Trust

,

454,307

Series

2022-1D-C

4.69%

(a)

06/20/2034

444,813

Lendbuzz

Securitization

Trust

,

473,691

Series

2022-1A-A

4.22%

(a)

05/17/2027

466,616

PRET

LLC

,

484,181

Series

2022-NPL2-A1

5.24%

(a)(b)

04/25/2052

476,336

500,000

Series

2022-NPL3-A1

6.17%

(a)(b)

06/25/2052

506,218

SEB

Funding

LLC

,

498,750

Series

2021-1A-A2

4.97%

(a)

01/30/2052

457,270

Sierra

Timeshare

Receivables

Funding

LLC

,

485,023

Series

2019-2A-A

2.59%

(a)

05/20/2036

474,718

SMB

Private

Education

Loan

Trust

,

750,000

Series

2021-A-B

2.31%

(a)

01/15/2053

683,728

Upstart

Securitization

Trust

,

500,000

Series

2021-4-B

1.84%

(a)

09/20/2031

453,051

VOLT

C

LLC

,

478,711

Series

2021-NPL9-A1

1.99%

(a)(b)

05/25/2051

456,099

VOLT

CI

LLC

,

524,046

Series

2021-NP10-A1

1.99%

(a)(b)

05/25/2051

499,939

Washington

Mutural

WMABS

Trust

,

974,290

Series

2006-HE2-A3

(1

Month

LIBOR

USD

+

0.30%,

0.30%

Floor)

1.92%

05/25/2036

795,589

Total

Asset

Backed

Obligations

(Cost

$7,274,498)

7,191,538

COLLATERALIZED

LOAN

OBLIGATIONS

0.5%

LoanCore

Issuer

Ltd.

,

250,000

Series

2021-CRE5-A

(1

Month

LIBOR

USD

+

1.30%,

1.30%

Floor)

2.62%

(a)

07/15/2036

243,703

Total

Collateralized

Loan

Obligations

(Cost

$247,072)

243,703

FOREIGN

CORPORATE

BONDS

2.2%

AUSTRALIA

0.3%

50,000

Glencore

Funding

LLC

1.63%

(a)

04/27/2026

44,293

50,000

Glencore

Funding

LLC

3.38%

(a)

09/23/2051

34,190

100,000

Westpac

Banking

Corp.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.53%)

3.02%

11/18/2036

80,637

159,120

BELGIUM

0.1%

75,000

Anheuser-Busch

Cos.

LLC

4.90%

02/01/2046

70,632

BERMUDA

0.2%

100,000

Triton

Container

International

Ltd.

3.25%

03/15/2032

81,590

CANADA

0.8%

100,000

Bank

of

Montreal

(5

Year

Swap

Rate

USD

+

1.43%)

3.80%

12/15/2032

92,772

175,000

Bank

of

Nova

Scotia

(The)

3.45%

04/11/2025

172,925

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

30,000

Garda

World

Security

Corp.

4.63%

(a)

02/15/2027

25,849

35,000

Garda

World

Security

Corp.

6.00%

(a)

06/01/2029

26,959

50,000

Parkland

Corp.

4.63%

(a)

05/01/2030

40,649

50,000

Titan

Acquisition

Ltd.

7.75%

(a)

04/15/2026

46,029

405,183

CHINA

0.3%

175,000

NXP

BV

3.88%

06/18/2026

168,801

FRANCE

0.2%

100,000

TotalEnergies

Capital

International

SA

3.39%

06/29/2060

76,505

IRELAND

0.3%

150,000

Avolon

Holdings

Funding

Ltd.

3.25%

(a)

02/15/2027

130,720

Total

Foreign

Corporate

Bonds

(Cost

$1,155,818)

1,092,551

NON-AGENCY

COMMERCIAL

MORTGAGE

BACKED

OBLIGATIONS

9.5%

BBCMS

Mortgage

Trust

,

180,000

Series

2021-C12-AS

2.90%

11/15/2054

154,488

100,000

Series

2022-C16-A5

4.60%

(c)

06/15/2055

102,396

Benchmark

Mortgage

Trust

,

250,000

Series

2022-B35-C

4.59%

(c)

05/15/2055

220,510

BX

Commercial

Mortgage

Trust

,

250,000

Series

2021-VINO-A

(1

Month

LIBOR

USD

+

0.65%,

0.65%

Floor)

1.98%

(a)

05/15/2038

238,494

Cantor

Commercial

Real

Estate

Lending

,

500,000

Series

2019-CF1-C

4.35%

(c)

05/15/2052

455,644

Citigroup

Commercial

Mortgage

Trust

,

100,000

Series

2022-GC48-A5

4.58%

(c)

05/15/2054

102,792

COMM

Mortgage

Trust

,

205,000

Series

2016-DC2-C

4.82%

(c)

02/10/2049

193,698

DBJPM

16-C1

Mortgage

Trust

,

290,000

Series

2016-C1-B

4.20%

(c)

05/10/2049

278,005

250,000

Series

2016-C1-C

3.48%

(c)

05/10/2049

218,180

Del

Amo

Fashion

Center

Trust

,

250,000

Series

2017-AMO-C

3.76%

(a)(c)

06/05/2035

204,660

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

500,000

Series

2022-NLP-A

(CME

Term

SOFR

1

Month

+

0.60%,

0.60%

Floor)

1.88%

(a)

04/15/2037

471,060

JPMBB

Commercial

Mortgage

Securities

Trust

,

325,000

Series

2014-C21-B

4.34%

(c)

08/15/2047

315,813

LSTAR

Commercial

Mortgage

Trust

,

250,000

Series

2015-3-D

3.30%

(a)(c)

04/20/2048

229,835

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

250,000

Series

2016-C31-C

4.42%

(c)

11/15/2049

218,188

RIAL

Issuer

Ltd.

,

500,000

Series

2022-FL8-A

(CME

Term

SOFR

1

Month

+

2.25%,

2.25%

Floor)

3.76%

(a)

01/19/2037

492,869

SREIT

Trust

,

270,000

Series

2021-MFP-A

(1

Month

LIBOR

USD

+

0.73%,

0.73%

Floor)

2.05%

(a)

11/15/2038

256,950

UBS

Commercial

Mortgage

Trust

,

324,000

Series

2018-C10-C

5.22%

(c)

05/15/2051

304,291

2

DoubleLine

ETF

Trust

Schedule

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

WFRBS

Commercial

Mortgage

Trust

,

10,130,698

Series

2014-C21-XA

1.17%

(c)(d)

08/15/2047

165,606

Total

Non-Agency

Commercial

Mortgage

Backed

Obligations

(Cost

$4,750,899)

4,623,479

NON-AGENCY

RESIDENTIAL

COLLATERALIZED

MORTGAGE

OBLIGATIONS

10.5%

Citigroup

Mortgage

Loan

Trust

,

670,073

Series

2007-AR8-2A1A

3.33%

(c)

07/25/2037

599,611

Connecticut

Avenue

Securities

Trust

,

500,000

Series

2022-R01-1M2

(Secured

Overnight

Financing

Rate

30

Day

Average

+

1.90%)

2.83%

(a)

12/25/2041

451,777

FHLMC

Structured

Agency

Credit

Risk

Debt

Notes

,

500,000

Series

2022-DNA2-M1B

(Secured

Overnight

Financing

Rate

30

Day

Average

+

2.40%)

3.33%

(a)

02/25/2042

462,602

Legacy

Mortgage

Asset

Trust

,

520,920

Series

2021-GS2-A1

1.75%

(a)(b)

04/25/2061

490,745

RFMSI

Trust

,

1,522,709

Series

2006-S4-A7

6.00%

04/25/2036

1,345,537

Towd

Point

Mortgage

Trust

,

368,906

Series

2020-3-A1

3.09%

(a)(c)

02/25/2063

357,290

Verus

Securitization

Trust

,

611,000

Series

2021-8-A1

1.82%

(a)(c)

11/25/2066

552,761

WaMu

Mortgage-Backed

Pass-Through

Certificates

Trust

,

515,961

Series

2006-AR16-2A1

2.39%

(c)

12/25/2036

464,183

Wells

Fargo

Mortgage

Backed

Securities

Trust

,

432,382

Series

2006-AR14-2A1

2.61%

(c)

10/25/2036

409,761

Total

Non-Agency

Residential

Collateralized

Mortgage

Obligations

(Cost

$5,291,561)

5,134,267

US

CORPORATE

BONDS

21.8%

180,000

AbbVie,

Inc.

4.70%

05/14/2045

169,824

70,000

Academy

Ltd.

6.00%

(a)

11/15/2027

64,081

95,000

AdaptHealth

LLC

5.13%

(a)

03/01/2030

80,202

85,000

Advanced

Drainage

Systems,

Inc.

6.38%

(a)

06/15/2030

83,154

40,000

Aethon

United

BR

LP

8.25%

(a)

02/15/2026

38,935

100,000

Air

Lease

Corp.

1.88%

08/15/2026

86,579

125,000

Alexandria

Real

Estate

Equities,

Inc.

3.00%

05/18/2051

84,283

100,000

Altria

Group,

Inc.

4.45%

05/06/2050

72,223

90,000

American

Airlines,

Inc.

5.75%

(a)

04/20/2029

77,145

75,000

American

Express

Co.

3.40%

02/22/2024

74,827

100,000

AmWINS

Group,

Inc.

4.88%

(a)

06/30/2029

82,018

65,000

Arconic

Corp.

6.13%

(a)

02/15/2028

60,831

100,000

Ares

Capital

Corp.

2.15%

07/15/2026

83,937

60,000

AssuredPartners,

Inc.

5.63%

(a)

01/15/2029

48,115

150,000

AT&T,

Inc.

3.50%

09/15/2053

113,953

175,000

Athene

Global

Funding

(Secured

Overnight

Financing

Rate

Compounded

Index

+

0.56%)

1.54%

(a)

08/19/2024

169,820

50,000

Bank

of

America

Corp.

(Secured

Overnight

Financing

Rate

+

1.11%)

3.84%

04/25/2025

49,791

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

175,000

Bank

of

America

Corp.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.20%)

2.48%

09/21/2036

135,922

60,000

BCPE

Empire

Holdings,

Inc.

7.63%

(a)

05/01/2027

48,929

100,000

Boeing

Co.

(The)

2.95%

02/01/2030

83,309

50,000

Boyne

USA,

Inc.

4.75%

(a)

05/15/2029

43,375

100,000

BP

Capital

Markets

America,

Inc.

2.94%

06/04/2051

71,719

225,000

Broadcom,

Inc.

3.50%

(a)

02/15/2041

170,062

100,000

Brooklyn

Union

Gas

Co.

(The)

4.49%

(a)

03/04/2049

85,139

90,000

Builders

FirstSource,

Inc.

5.00%

(a)

03/01/2030

76,385

20,000

Builders

FirstSource,

Inc.

6.38%

(a)

06/15/2032

17,894

30,000

Callon

Petroleum

Co.

7.50%

(a)

06/15/2030

27,650

50,000

Calpine

Corp.

5.13%

(a)

03/15/2028

44,137

120,000

Carnival

Corp.

5.75%

(a)

03/01/2027

87,085

50,000

CCO

Holdings

LLC

5.13%

(a)

05/01/2027

47,350

50,000

CCO

Holdings

LLC

4.75%

(a)

02/01/2032

41,065

50,000

Cengage

Learning,

Inc.

9.50%

(a)

06/15/2024

46,322

180,000

Charter

Communications

Operating

LLC

4.91%

07/23/2025

180,662

50,000

CHS/Community

Health

Systems,

Inc.

6.00%

(a)

01/15/2029

41,493

150,000

Citigroup,

Inc.

(Secured

Overnight

Financing

Rate

+

1.35%)

3.06%

01/25/2033

127,288

40,000

Clarios

Global

LP

8.50%

(a)

05/15/2027

38,742

25,000

Clear

Channel

Outdoor

Holdings,

Inc.

7.75%

(a)

04/15/2028

18,254

60,000

CNX

Resources

Corp.

6.00%

(a)

01/15/2029

56,161

100,000

Comcast

Corp.

3.40%

04/01/2030

93,918

50,000

CommScope,

Inc.

6.00%

(a)

03/01/2026

46,151

100,000

Constellation

Brands,

Inc.

3.15%

08/01/2029

90,103

65,000

Coty,

Inc.

5.00%

(a)

04/15/2026

59,670

40,000

Credit

Acceptance

Corp.

6.63%

03/15/2026

37,525

100,000

Crown

Castle

International

Corp.

3.65%

09/01/2027

94,796

100,000

CSX

Corp.

3.80%

11/01/2046

84,965

130,000

CVS

Health

Corp.

5.05%

03/25/2048

124,630

100,000

Dick's

Sporting

Goods,

Inc.

3.15%

01/15/2032

79,121

125,000

Discover

Financial

Services

4.10%

02/09/2027

119,989

180,000

Dollar

Tree,

Inc.

4.00%

05/15/2025

179,039

50,000

Duke

Energy

Carolinas

LLC

3.55%

03/15/2052

41,668

75,000

Elevance

Health,

Inc.

2.38%

01/15/2025

72,294

25,000

Elevance

Health,

Inc.

4.55%

05/15/2052

23,573

75,000

Energy

Transfer

LP

4.75%

01/15/2026

74,814

40,000

EQM

Midstream

Partners

LP

6.50%

(a)

07/01/2027

37,263

100,000

Essential

Utilities,

Inc.

2.70%

04/15/2030

87,114

100,000

EverArc

Escrow

Sarl

5.00%

(a)

10/30/2029

84,307

25,000

Exelon

Corp.

4.10%

(a)

03/15/2052

21,615

75,000

Expedia

Group,

Inc.

5.00%

02/15/2026

75,083

100,000

Expedia

Group,

Inc.

3.25%

02/15/2030

83,493

65,000

Ferrellgas

LP

5.38%

(a)

04/01/2026

56,530

|

June

30,

2022

3

(Unaudited)

June

30,

2022

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

35,000

Fertitta

Entertainment

LLC

6.75%

(a)

01/15/2030

26,963

60,000

Frontier

Communications

Holdings

LLC

5.88%

(a)

10/15/2027

54,102

100,000

General

Motors

Financial

Co.,

Inc.

2.40%

10/15/2028

83,137

175,000

Goldman

Sachs

Group,

Inc.

(The)

(Secured

Overnight

Financing

Rate

+

0.82%)

2.00%

09/10/2027

166,206

70,000

Griffon

Corp.

5.75%

03/01/2028

63,739

40,000

Gulfport

Energy

Corp.

8.00%

05/17/2026

39,424

50,000

Gulfport

Energy

Corp.

8.00%

(a)

05/17/2026

49,281

75,000

HCA,

Inc.

4.13%

06/15/2029

68,456

90,000

Hess

Midstream

Operations

LP

5.50%

(a)

10/15/2030

80,927

55,000

Hilcorp

Energy

I

LP

5.75%

(a)

02/01/2029

48,394

100,000

Invitation

Homes

Operating

Partnership

LP

2.70%

01/15/2034

77,087

175,000

JPMorgan

Chase

&

Co.

(Secured

Overnight

Financing

Rate

+

1.26%)

2.96%

01/25/2033

150,349

75,000

Kinder

Morgan

Energy

Partners

LP

6.95%

01/15/2038

80,892

50,000

Lions

Gate

Capital

Holdings

LLC

5.50%

(a)

04/15/2029

39,146

100,000

Magallanes,

Inc.

3.76%

(a)

03/15/2027

93,885

100,000

Marriott

International,

Inc.

3.13%

06/15/2026

95,553

100,000

McDonald's

Corp.

3.60%

07/01/2030

95,290

100,000

Medline

Borrower

LP

5.25%

(a)

10/01/2029

82,442

50,000

Metis

Merger

Sub

LLC

6.50%

(a)

05/15/2029

39,814

30,000

Michaels

Cos.,

Inc.

(The)

5.25%

(a)

05/01/2028

23,640

50,000

Midwest

Gaming

Borrower

LLC

4.88%

(a)

05/01/2029

40,832

50,000

Minerva

Merger

Sub,

Inc.

6.50%

(a)

02/15/2030

41,727

70,000

ModivCare

Escrow

Issuer,

Inc.

5.00%

(a)

10/01/2029

56,640

115,000

Monongahela

Power

Co.

5.40%

(a)

12/15/2043

113,914

200,000

Morgan

Stanley

(Secured

Overnight

Financing

Rate

+

1.36%)

2.48%

09/16/2036

153,996

70,000

Nationstar

Mortgage

Holdings,

Inc.

5.75%

(a)

11/15/2031

53,687

100,000

NetApp,

Inc.

1.88%

06/22/2025

93,375

20,000

NextEra

Energy

Capital

Holdings,

Inc.

5.00%

07/15/2032

20,509

50,000

NRG

Energy,

Inc.

3.63%

(a)

02/15/2031

39,307

80,000

NuStar

Logistics

LP

6.00%

06/01/2026

74,942

90,000

Oasis

Petroleum,

Inc.

6.38%

(a)

06/01/2026

83,384

65,000

OneMain

Finance

Corp.

6.88%

03/15/2025

61,735

100,000

Oracle

Corp.

3.60%

04/01/2050

69,650

65,000

Owens

&

Minor,

Inc.

6.63%

(a)

04/01/2030

59,456

100,000

Owens

Corning

4.40%

01/30/2048

82,879

100,000

Pacific

Gas

and

Electric

Co.

1.37%

03/10/2023

98,501

100,000

Pacific

Gas

and

Electric

Co.

2.50%

02/01/2031

76,585

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

100,000

Packaging

Corp.

of

America

3.00%

12/15/2029

89,470

50,000

Park

Intermediate

Holdings

LLC

4.88%

(a)

05/15/2029

43,015

45,000

Parker-Hannifin

Corp.

4.25%

09/15/2027

44,720

90,000

Penn

National

Gaming,

Inc.

5.63%

(a)

01/15/2027

79,085

75,000

Penske

Truck

Leasing

Co.

LP

4.20%

(a)

04/01/2027

73,216

100,000

Performance

Food

Group,

Inc.

5.50%

(a)

10/15/2027

92,750

70,000

PG&E

Corp.

5.00%

07/01/2028

59,251

70,000

Pike

Corp.

5.50%

(a)

09/01/2028

56,930

50,000

Pioneer

Natural

Resources

Co.

1.90%

08/15/2030

40,885

50,000

Post

Holdings,

Inc.

5.50%

(a)

12/15/2029

44,798

100,000

Prudential

Financial,

Inc.

3.91%

12/07/2047

86,428

50,000

Qorvo,

Inc.

1.75%

(a)

12/15/2024

46,805

100,000

Quanta

Services,

Inc.

2.35%

01/15/2032

77,562

100,000

Raytheon

Technologies

Corp.

3.03%

03/15/2052

74,687

50,000

Realogy

Group

LLC

5.75%

(a)

01/15/2029

38,000

50,000

Roller

Bearing

Co.

of

America,

Inc.

4.38%

(a)

10/15/2029

42,608

100,000

Royalty

Pharma

plc

3.30%

09/02/2040

74,021

75,000

Sabine

Pass

Liquefaction

LLC

5.00%

03/15/2027

75,334

150,000

Santander

Holdings

USA,

Inc.

3.40%

01/18/2023

149,811

100,000

Santander

Holdings

USA,

Inc.

(Secured

Overnight

Financing

Rate

+

1.25%)

2.49%

01/06/2028

88,339

90,000

Scripps

Escrow,

Inc.

5.88%

(a)

07/15/2027

78,906

40,000

Sirius

XM

Radio,

Inc.

5.50%

(a)

07/01/2029

36,548

150,000

Smithfield

Foods,

Inc.

4.25%

(a)

02/01/2027

144,620

100,000

Southern

Co.

(The)

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.92%)

3.75%

09/15/2051

85,217

50,000

SRS

Distribution,

Inc.

6.13%

(a)

07/01/2029

39,520

50,000

Suburban

Propane

Partners

LP

5.00%

(a)

06/01/2031

42,599

175,000

Synchrony

Financial

2.88%

10/28/2031

132,807

75,000

Sysco

Corp.

5.95%

04/01/2030

80,044

105,000

Tenet

Healthcare

Corp.

6.13%

(a)

10/01/2028

90,181

30,000

Tenet

Healthcare

Corp.

6.13%

(a)

06/15/2030

27,767

150,000

Thermo

Fisher

Scientific,

Inc.

1.22%

10/18/2024

142,274

30,000

TransDigm,

Inc.

5.50%

11/15/2027

25,551

40,000

Uber

Technologies,

Inc.

7.50%

(a)

09/15/2027

38,819

90,000

United

Airlines,

Inc.

4.63%

(a)

04/15/2029

76,653

15,000

UnitedHealth

Group,

Inc.

4.95%

05/15/2062

15,240

50,000

Univision

Communications,

Inc.

7.38%

(a)

06/30/2030

48,926

75,000

US

Foods,

Inc.

4.75%

(a)

02/15/2029

65,692

75,000

Verizon

Communications,

Inc.

(3

Month

LIBOR

USD

+

1.10%)

2.51%

05/15/2025

74,592

4

DoubleLine

ETF

Trust

Schedule

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/

SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

50,000

Verizon

Communications,

Inc.

3.88%

03/01/2052

42,015

100,000

Viking

Cruises

Ltd.

5.88%

(a)

09/15/2027

74,844

65,000

WASH

Multifamily

Acquisition,

Inc.

5.75%

(a)

04/15/2026

61,373

40,000

Weatherford

International

Ltd.

8.63%

(a)

04/30/2030

33,269

100,000

Wells

Fargo

&

Co.

4.65%

11/04/2044

90,153

100,000

Welltower,

Inc.

2.05%

01/15/2029

84,255

175,000

Western

Union

Co.

(The)

2.75%

03/15/2031

143,653

50,000

Williams

Cos.,

Inc.

(The)

3.50%

10/15/2051

37,309

75,000

Willis

North

America,

Inc.

4.50%

09/15/2028

72,070

50,000

WR

Grace

Holdings

LLC

5.63%

(a)

08/15/2029

36,938

75,000

WRKCo,

Inc.

3.75%

03/15/2025

74,404

Total

US

Corporate

Bonds

(Cost

$11,403,901)

10,650,122

US

GOVERNMENT

AND

AGENCY

MORTGAGE

BACKED

OBLIGATIONS

17.6%

FHLMC

UMBS

,

995,109

Pool

SD8221

3.50%

06/01/2052

958,486

FNMA

UMBS

,

2,378,573

Pool

FS1472

3.50%

11/01/2050

2,309,716

2,973,922

Pool

MA4600

3.50%

05/01/2052

2,864,475

1,993,117

Pool

MA4624

3.00%

06/01/2052

1,858,533

625,000

Pool

MA4655

4.00%

07/01/2052

617,526

Total

US

Government

and

Agency

Mortgage

Backed

Obligations

(Cost

$8,784,461)

8,608,736

US

GOVERNMENT

AND

AGENCY

OBLIGATIONS

21.9%

3,000,000

U.S.

Treasury

Bonds

2.88%

05/15/2052

2,834,297

1,600,000

U.S.

Treasury

Notes

3.00%

06/30/2024

1,600,938

2,700,000

U.S.

Treasury

Notes

3.25%

06/30/2027

2,726,578

3,600,000

U.S.

Treasury

Notes

2.88%

05/15/2032

3,560,062

Total

US

Government

and

Agency

Obligations

(Cost

$10,730,900)

10,721,875

SHORT

TERM

INVESTMENTS

1.0%

254,524

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

1.36%

(e)

254,524

254,525

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

1.38%

(e)

254,525

Total

Short

Term

Investments

(Cost

$509,049)

509,049

Total

Investments

99.7%

(Cost

$50,148,159)

48,775,320

Other

Assets

in

Excess

of

Liabilities

0.3%

132,454

NET

ASSETS

100.0%

$48,907,774

INVESTMENT

BREAKDOWN

as

a

%

of

Net

Assets:

US

Government

and

Agency

Obligations

21.9%

US

Government

and

Agency

Mortgage

Backed

Obligations

17.6%

Asset

Backed

Obligations

14.7%

Non-Agency

Residential

Collateralized

Mortgage

Obligations

10.5%

Non-Agency

Commercial

Mortgage

Backed

Obligations

9.5%

INVESTMENT

BREAKDOWN

as

a

%

of

Net

Assets:

(Cont.)

Banking

3.7%

Technology

1.6%

Healthcare

1.6%

Electric

1.2%

Food

and

Beverage

1.2%

Midstream

1.1%

Short

Term

Investments

1.0%

Consumer

Cyclical

Services

0.8%

Cable

Satellite

0.8%

Retailers

0.8%

Independent

0.8%

Finance

Companies

0.7%

Media

Entertainment

0.7%

Building

Materials

0.6%

Wirelines

0.6%

Life

0.5%

Pharmaceuticals

0.5%

Collateralized

Loan

Obligations

0.5%

Leisure

0.4%

P&C

0.4%

Diversified

Manufacturing

0.4%

Aerospace

&

Defense

0.4%

Paper

0.3%

Transportation

Services

0.3%

Airlines

0.3%

Integrated

0.3%

Metals

and

Mining

0.3%

Other

Industrial

0.3%

Restaurants

0.3%

Automotive

0.2%

Chemicals

0.2%

Gaming

0.2%

Health

Insurance

0.2%

Lodging

0.2%

Wireless

0.2%

Other

Financial

0.2%

Other

Utility

0.2%

Natural

Gas

0.2%

Railroads

0.2%

Office

REITs

0.2%

Healthcare

REITs

0.2%

Apartment

REITs

0.2%

Tobacco

0.1%

Consumer

Products

0.1%

Other

REITs

0.1%

Refining

0.1%

Oil

Field

Services

0.1%

Other

Assets

and

Liabilities

0.3%

100.0%

|

June

30,

2022

5

(Unaudited)

June

30,

2022

(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.

(b)

The

interest

rate

will

step

up

if

the

issuer

does

not

redeem

the

bond

on

or

before

a

scheduled

redemption

date

in

accordance

with

the

terms

of

the

instrument.

The

interest

rate

shown

is

the

rate

in

effect

as

of

period

end.

(c)

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.

(d)

Interest

only

security

(e)

Seven-day

yield

as

of

period

end

Abbreviations:

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

LIBOR

London

Interbank

Offered

Rate

UMBS

Uniform

Mortgage-Backed

Securities

Schedule

of

Investments

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF

(Unaudited)

June

30,

2022

6

DoubleLine

ETF

Trust

SHARES

SECURITY

DESCRIPTION

VALUE

$

COMMON

STOCKS

99.5%

AUTO

COMPONENTS

0.2%

1,076

Aptiv

plc

(a)

95,839

953

BorgWarner,

Inc.

31,802

127,641

AUTOMOBILES

5.1%

15,761

Ford

Motor

Co.

175,420

5,816

General

Motors

Co.

(a)

184,716

3,284

Tesla,

Inc.

(a)

2,211,511

2,571,647

BANKS

8.4%

25,670

Bank

of

America

Corp.

799,107

7,020

Citigroup,

Inc.

322,850

1,769

Citizens

Financial

Group,

Inc.

63,136

472

Comerica,

Inc.

34,635

2,477

Fifth

Third

Bancorp

83,227

649

First

Republic

Bank

93,586

5,199

Huntington

Bancshares,

Inc.

62,544

10,626

JPMorgan

Chase

&

Co.

1,196,594

3,363

KeyCorp

57,944

650

M&T

Bank

Corp.

103,603

1,498

PNC

Financial

Services

Group,

Inc.

(The)

236,339

3,372

Regions

Financial

Corp.

63,225

229

Signature

Bank

41,039

211

SVB

Financial

Group

(a)

83,343

4,806

Truist

Financial

Corp.

227,949

4,876

US

Bancorp

224,394

13,710

Wells

Fargo

&

Co.

537,021

547

Zions

Bancorp

NA

27,842

4,258,378

CAPITAL

MARKETS

6.5%

399

Ameriprise

Financial,

Inc.

94,834

2,684

Bank

of

New

York

Mellon

Corp.

(The)

111,950

516

BlackRock,

Inc.

314,265

383

Cboe

Global

Markets,

Inc.

43,352

5,467

Charles

Schwab

Corp.

(The)

345,405

1,298

CME

Group,

Inc.

265,701

136

FactSet

Research

Systems,

Inc.

52,302

1,016

Franklin

Resources,

Inc.

23,683

1,240

Goldman

Sachs

Group,

Inc.

(The)

368,305

2,029

Intercontinental

Exchange,

Inc.

190,807

1,220

Invesco

Ltd.

19,679

136

MarketAxess

Holdings,

Inc.

34,817

583

Moody's

Corp.

158,558

5,064

Morgan

Stanley

385,168

295

MSCI,

Inc.

121,584

419

Nasdaq,

Inc.

63,914

752

Northern

Trust

Corp.

72,553

707

Raymond

James

Financial,

Inc.

63,213

1,257

S&P

Global,

Inc.

423,684

1,331

State

Street

Corp.

82,056

826

T

Rowe

Price

Group,

Inc.

93,842

3,329,672

COMMUNICATIONS

EQUIPMENT

0.7%

332

Arista

Networks,

Inc.

(a)

31,122

6,152

Cisco

Systems,

Inc.

262,321

89

F5,

Inc.

(a)

13,620

478

Juniper

Networks,

Inc.

13,623

248

Motorola

Solutions,

Inc.

51,981

372,667

CONSUMER

FINANCE

1.2%

2,212

American

Express

Co.

306,627

1,421

Capital

One

Financial

Corp.

148,054

SHARES

SECURITY

DESCRIPTION

VALUE

$

1,019

Discover

Financial

Services

96,377

1,817

Synchrony

Financial

50,186

601,244

DISTRIBUTORS

0.4%

562

Genuine

Parts

Co.

74,746

1,034

LKQ

Corp.

50,759

162

Pool

Corp.

56,899

182,404

DIVERSIFIED

FINANCIAL

SERVICES

3.5%

6,568

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

1,793,195

ELECTRONIC

EQUIPMENT,

INSTRUMENTS

&

COMPONENTS

0.6%

882

Amphenol

Corp.

-

Class

A

56,783

199

CDW

Corp.

31,354

1,121

Corning,

Inc.

35,323

269

Keysight

Technologies,

Inc.

(a)

37,082

477

TE

Connectivity

Ltd.

(Switzerland)

53,973

69

Teledyne

Technologies,

Inc.

(a)

25,883

371

Trimble,

Inc.

(a)

21,603

77

Zebra

Technologies

Corp.

-

Class

A

(a)

22,634

284,635

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

23.6%

1,498

Alexandria

Real

Estate

Equities,

Inc.

217,255

1,400

American

Campus

Communities,

Inc.

90,258

2,977

American

Homes

4

Rent

-

Class

A

105,505

4,702

American

Tower

Corp.

1,201,784

2,714

Americold

Realty

Trust,

Inc.

81,529

1,584

Apartment

Income

REIT

Corp.

65,894

1,405

AvalonBay

Communities,

Inc.

272,921

1,440

Boston

Properties,

Inc.

128,131

3,025

Brixmor

Property

Group,

Inc.

61,135

1,073

Camden

Property

Trust

144,297

1,137

Corporate

Office

Properties

Trust

29,778

1,503

Cousins

Properties,

Inc.

43,933

4,385

Crown

Castle

International

Corp.

738,346

2,252

CubeSmart

96,205

2,870

Digital

Realty

Trust,

Inc.

372,612

1,779

Douglas

Emmett,

Inc.

39,814

3,871

Duke

Realty

Corp.

212,712

418

EastGroup

Properties,

Inc.

64,510

916

Equinix,

Inc.

601,830

1,135

Equity

Commonwealth

(a)

31,247

1,735

Equity

LifeStyle

Properties,

Inc.

122,265

3,442

Equity

Residential

248,581

659

Essex

Property

Trust,

Inc.

172,335

1,353

Extra

Space

Storage,

Inc.

230,172

721

Federal

Realty

OP

LP

69,029

1,323

First

Industrial

Realty

Trust,

Inc.

62,816

2,370

Gaming

and

Leisure

Properties,

Inc.

108,688

1,530

Healthcare

Realty

Trust,

Inc.

41,616

2,310

Healthcare

Trust

of

America,

Inc.

-

Class

A

64,472

5,437

Healthpeak

Properties,

Inc.

140,873

1,061

Highwoods

Properties,

Inc.

36,276

7,188

Host

Hotels

&

Resorts,

Inc.

112,708

1,466

Hudson

Pacific

Properties,

Inc.

21,755

6,150

Invitation

Homes,

Inc.

218,817

2,927

Iron

Mountain,

Inc.

142,516

1,095

JBG

SMITH

Properties

25,886

1,059

Kilroy

Realty

Corp.

55,418

6,228

Kimco

Realty

Corp.

123,128

874

Lamar

Advertising

Co.

-

Class

A

76,886

848

Life

Storage,

Inc.

94,688

2,880

LXP

Industrial

Trust

30,931

6,039

Medical

Properties

Trust,

Inc.

92,216

1,162

Mid-America

Apartment

Communities,

Inc.

202,967

|

June

30,

2022

7

(Unaudited)

June

30,

2022

SHARES

SECURITY

DESCRIPTION

VALUE

$

462

National

Health

Investors,

Inc.

28,002

1,767

National

Retail

Properties,

Inc.

75,981

847

National

Storage

Affiliates

Trust

42,409

2,377

Omega

Healthcare

Investors,

Inc.

67,008

571

Orion

Office

REIT,

Inc.

6,258

2,269

Physicians

Realty

Trust

39,594

698

PotlatchDeltic

Corp.

30,845

7,452

Prologis,

Inc.

876,728

202

PS

Business

Parks,

Inc.

37,804

1,536

Public

Storage

480,261

1,474

Rayonier,

Inc.

55,098

6,053

Realty

Income

Corp.

413,178

1,559

Regency

Centers

Corp.

92,464

1,663

Rexford

Industrial

Realty,

Inc.

95,772

2,334

Sabra

Health

Care

REIT,

Inc.

32,606

1,088

SBA

Communications

Corp.

348,214

3,313

Simon

Property

Group,

Inc.

314,470

649

SL

Green

Realty

Corp.

29,951

1,355

Spirit

Realty

Capital,

Inc.

51,192

1,805

STAG

Industrial,

Inc.

55,738

2,542

STORE

Capital

Corp.

66,295

1,226

Sun

Communities,

Inc.

195,375

3,026

UDR,

Inc.

139,317

4,035

Ventas,

Inc.

207,520

9,681

VICI

Properties,

Inc.

288,397

1,606

Vornado

Realty

Trust

45,916

4,567

Welltower,

Inc.

376,093

7,499

Weyerhaeuser

Co.

248,367

1,940

WP

Carey,

Inc.

160,748

11,996,336

HOTELS,

RESTAURANTS

&

LEISURE

4.3%

164

Booking

Holdings,

Inc.

(a)

286,834

859

Caesars

Entertainment,

Inc.

(a)

32,900

3,269

Carnival

Corp.

(a)

28,277

113

Chipotle

Mexican

Grill,

Inc.

(a)

147,720

497

Darden

Restaurants,

Inc.

56,221

143

Domino's

Pizza,

Inc.

55,729

607

Expedia

Group,

Inc.

(a)

57,562

1,109

Hilton

Worldwide

Holdings,

Inc.

123,587

1,377

Las

Vegas

Sands

Corp.

(a)

46,253

1,095

Marriott

International,

Inc.

-

Class

A

148,931

2,464

McDonald's

Corp.

608,312

1,410

MGM

Resorts

International

40,819

1,689

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

18,782

655

Penn

National

Gaming,

Inc.

(a)

19,925

905

Royal

Caribbean

Cruises

Ltd.

(a)

31,594

4,576

Starbucks

Corp.

349,561

424

Wynn

Resorts

Ltd.

(a)

24,159

1,141

Yum!

Brands,

Inc.

129,515

2,206,681

HOUSEHOLD

DURABLES

0.8%

1,275

DR

Horton,

Inc.

84,392

610

Garmin

Ltd.

59,932

1,027

Lennar

Corp.

-

Class

A

72,475

204

Mohawk

Industries,

Inc.

(a)

25,314

1,463

Newell

Brands,

Inc.

27,856

12

NVR,

Inc.

(a)

48,050

944

PulteGroup,

Inc.

37,411

225

Whirlpool

Corp.

34,846

390,276

INSURANCE

5.0%

2,137

Aflac,

Inc.

118,240

995

Allstate

Corp.

(The)

126,096

2,875

American

International

Group,

Inc.

146,999

SHARES

SECURITY

DESCRIPTION

VALUE

$

769

Aon

plc

-

Class

A

207,384

760

Arthur

J

Gallagher

&

Co.

123,910

195

Assurant,

Inc.

33,706

853

Brown

&

Brown,

Inc.

49,764

1,532

Chubb

Ltd.

301,161

540

Cincinnati

Financial

Corp.

64,249

141

Everest

Re

Group

Ltd.

39,519

327

Globe

Life,

Inc.

31,873

1,196

Hartford

Financial

Services

Group,

Inc.

(The)

78,254

587

Lincoln

National

Corp.

27,454

705

Loews

Corp.

41,778

1,821

Marsh

&

McLennan

Cos.,

Inc.

282,710

2,497

MetLife,

Inc.

156,787

850

Principal

Financial

Group,

Inc.

56,771

2,117

Progressive

Corp.

(The)

246,144

1,357

Prudential

Financial,

Inc.

129,838

867

Travelers

Cos.,

Inc.

(The)

146,636

757

W

R

Berkley

Corp.

51,673

407

Willis

Towers

Watson

plc

80,338

2,541,284

INTERNET

&

DIRECT

MARKETING

RETAIL

6.0%

27,427

Amazon.com,

Inc.

(a)

2,913,022

2,242

eBay,

Inc.

93,424

512

Etsy,

Inc.

(a)

37,483

3,043,929

IT

SERVICES

4.1%

941

Accenture

plc

-

Class

A

261,269

238

Akamai

Technologies,

Inc.

(a)

21,737

619

Automatic

Data

Processing,

Inc.

130,015

174

Broadridge

Financial

Solutions,

Inc.

24,804

773

Cognizant

Technology

Solutions

Corp.

-

Class

A

52,170

362

DXC

Technology

Co.

(a)

10,972

84

EPAM

Systems,

Inc.

(a)

24,761

907

Fidelity

National

Information

Services,

Inc.

83,145

862

Fiserv,

Inc.

(a)

76,692

115

FleetCor

Technologies,

Inc.

(a)

24,163

120

Gartner,

Inc.

(a)

29,020

418

Global

Payments,

Inc.

46,247

1,332

International

Business

Machines

Corp.

188,065

109

Jack

Henry

&

Associates,

Inc.

19,622

1,271

Mastercard,

Inc.

-

Class

A

400,975

478

Paychex,

Inc.

54,430

1,730

PayPal

Holdings,

Inc.

(a)

120,823

141

VeriSign,

Inc.

(a)

23,593

2,433

Visa,

Inc.

-

Class

A

479,033

2,071,536

LEISURE

PRODUCTS

0.1%

524

Hasbro,

Inc.

42,905

MORTGAGE

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

0.6%

5,258

AGNC

Investment

Corp.

58,206

15,634

Annaly

Capital

Management,

Inc.

92,397

1,709

Blackstone

Mortgage

Trust,

Inc.

-

Class

A

47,288

4,666

New

Residential

Investment

Corp.

43,487

3,077

Starwood

Property

Trust,

Inc.

64,279

305,657

MULTILINE

RETAIL

1.2%

911

Dollar

General

Corp.

223,596

895

Dollar

Tree,

Inc.

(a)

139,486

1,844

Target

Corp.

260,428

623,510

PROFESSIONAL

SERVICES

0.5%

3,996

CoStar

Group,

Inc.

(a)

241,398

8

DoubleLine

ETF

Trust

Schedule

of

Investments

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF

(Cont.)

SHARES

SECURITY

DESCRIPTION

VALUE

$

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

0.9%

3,290

CBRE

Group,

Inc.

-

Class

A

(a)

242,177

294

Compass,

Inc.

-

Class

A

(a)

1,061

388

Howard

Hughes

Corp.

(The)

(a)

26,404

494

Jones

Lang

LaSalle,

Inc.

(a)

86,381

4,045

Opendoor

Technologies,

Inc.

(a)

19,052

1,092

Redfin

Corp.

(a)

8,998

367

Zillow

Group,

Inc.

-

Class

A

(a)

11,674

1,665

Zillow

Group,

Inc.

-

Class

C

(a)

52,864

448,611

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

4.7%

2,409

Advanced

Micro

Devices,

Inc.

(a)

184,216

775

Analog

Devices,

Inc.

113,220

1,311

Applied

Materials,

Inc.

119,275

607

Broadcom,

Inc.

294,887

200

Enphase

Energy,

Inc.

(a)

39,048

6,044

Intel

Corp.

226,106

223

KLA

Corp.

71,155

205

Lam

Research

Corp.

87,361

827

Microchip

Technology,

Inc.

48,032

1,653

Micron

Technology,

Inc.

91,378

66

Monolithic

Power

Systems,

Inc.

25,346

3,441

NVIDIA

Corp.

521,621

388

NXP

Semiconductors

NV

(China)

57,435

638

ON

Semiconductor

Corp.

(a)

32,098

162

Qorvo,

Inc.

(a)

15,280

1,659

QUALCOMM,

Inc.

211,921

239

Skyworks

Solutions,

Inc.

22,141

81

SolarEdge

Technologies,

Inc.

(a)

22,168

238

Teradyne,

Inc.

21,313

1,362

Texas

Instruments,

Inc.

209,271

2,413,272

SOFTWARE

8.3%

705

Adobe,

Inc.

(a)

258,072

129

ANSYS,

Inc.

(a)

30,868

323

Autodesk,

Inc.

(a)

55,543

410

Cadence

Design

Systems,

Inc.

(a)

61,512

204

Ceridian

HCM

Holding,

Inc.

(a)

9,604

185

Citrix

Systems,

Inc.

17,976

998

Fortinet,

Inc.

(a)

56,467

422

Intuit,

Inc.

162,656

11,014

Microsoft

Corp.

2,828,726

860

NortonLifeLock,

Inc.

18,886

2,336

Oracle

Corp.

163,216

71

Paycom

Software,

Inc.

(a)

19,889

157

PTC,

Inc.

(a)

16,695

157

Roper

Technologies,

Inc.

61,960

SHARES

SECURITY

DESCRIPTION

VALUE

$

1,480

Salesforce,

Inc.

(a)

244,259

299

ServiceNow,

Inc.

(a)

142,181

228

Synopsys,

Inc.

(a)

69,244

62

Tyler

Technologies,

Inc.

(a)

20,614

4,238,368

SPECIALTY

RETAIL

5.1%

243

Advance

Auto

Parts,

Inc.

42,061

79

AutoZone,

Inc.

(a)

169,781

949

Bath

&

Body

Works,

Inc.

25,547

803

Best

Buy

Co.,

Inc.

52,348

638

CarMax,

Inc.

(a)

57,726

4,041

Home

Depot,

Inc.

(The)

1,108,325

2,623

Lowe's

Cos.,

Inc.

458,160

261

O'Reilly

Automotive,

Inc.

(a)

164,889

1,405

Ross

Stores,

Inc.

98,673

4,678

TJX

Cos.,

Inc.

(The)

261,266

445

Tractor

Supply

Co.

86,263

207

Ulta

Beauty,

Inc.

(a)

79,794

2,604,833

TECHNOLOGY

HARDWARE,

STORAGE

&

PERIPHERALS

6.4%

22,624

Apple,

Inc.

3,093,153

1,925

Hewlett

Packard

Enterprise

Co.

25,525

1,560

HP,

Inc.

51,137

328

NetApp,

Inc.

21,399

295

Seagate

Technology

Holdings

plc

21,075

463

Western

Digital

Corp.

(a)

20,756

3,233,045

TEXTILES,

APPAREL

&

LUXURY

GOODS

1.3%

5,075

NIKE,

Inc.

-

Class

B

518,665

268

PVH

Corp.

15,249

184

Ralph

Lauren

Corp.

16,495

1,009

Tapestry,

Inc.

30,795

1,287

VF

Corp.

56,847

638,051

Total

Common

Stocks

(Cost

$52,782,898)

50,561,175

SHORT

TERM

INVESTMENTS

0.4%

107,014

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

1.36%

(b)

107,014

107,014

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

1.38%

(b)

107,014

Total

Short

Term

Investments

(Cost

$214,028)

214,028

Total

Investments

99.9%

(Cost

$52,996,926)

50,775,203

Other

Assets

in

Excess

of

Liabilities

0.1%

56,049

NET

ASSETS

100.0%

$50,831,252

(a)

Non-income

producing

security

(b)

Seven-day

yield

as

of

period

end

|

June

30,

2022

9

Notes

to

Schedule

of

Investments

(Unaudited)

June

30,

2022

1. Organization

DoubleLine

ETF

Trust,

a

Delaware

statutory

trust

(the

“Trust”),

was

formed

on

September

27,

2021

and

is

registered

with

the

Securities

and

Exchange

Commission

as

an

open-end

management

investment

company.

As

of

June

30,

2022,

the

Trust

consists

of

two series,

DoubleLine

Opportunistic

Bond

ETF

(the

“Opportunistic

Bond

ETF”)

and

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF

(the

“Equities

ETF”)

(each

a

“Fund”

and

collectively

the

“Funds”).

Each

Fund

offers

one

class

of

shares. 

The

Funds

commenced

operations

on

March

31,

2022.

The

Funds

are

classified

as

non-diversified

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”).

The

DoubleLine

Opportunistic

Bond

ETF’s

investment

objective

is

to

seek

to

maximize

current

income

and

total

return.

The

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF’s

investment

objective

is

to

seek

total

return

which

exceeds

the

total

return

of

the

S&P

500

Index.

2. Significant

Accounting

Policies 

Each

Fund

is

an

investment

company

that

applies

the

accounting

and

reporting

guidance

issued

in

Topic

946,

"Financial

Services

-Investment

Companies",

by

the

Financial

Accounting

Standards

Board

("FASB").

The

following

is

a

summary

of

the

significant

accounting

policies

of

the

Funds.

These

policies

are

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America

("US

GAAP"). 

A. Security

Valuation.

The

Funds

have

adopted

US

GAAP

fair

value

accounting

standards

which

establish

a

definition

of

fair

value

and

set

out

a

hierarchy

for

measuring

fair

value.

These

standards

require

additional

disclosures

about

the

various

inputs

and

valuation

techniques

used

to

develop

the

measurements

of

fair

value

and

a

discussion

of

changes

in

valuation

techniques

and

related

inputs

during

the

period.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below: 

Level

1—

Unadjusted

quoted

market

prices

in

active

markets

for

identical

securities

Level

2—

Quoted

prices

for

identical

or

similar

assets

in

markets

that

are

not

active,

or

inputs

derived

from

observable

market

data

Level

3—

Significant

unobservable

inputs

(including

the

reporting

entity’s

estimates

and

assumptions)

Market

values

for

domestic

and

foreign

fixed

income

securities

are

normally

determined

on

the

basis

of

valuations

provided

by

independent

pricing

services.

Vendors

typically

value

such

securities

based

on

one

or

more

inputs

described

in

the

following

table

which

is

not

intended

to

be

a

complete

list.

The

table

provides

examples

of

inputs

that

are

commonly

relevant

for

valuing

particular

classes

of

fixed

income

securities

in

which

the

Funds

are

authorized

to

invest.

However,

these

classifications

are

not

exclusive,

and

any

of

the

inputs

may

be

used

to

value

any

other

class

of

fixed-income

securities.

Securities

that

use

similar

valuation

techniques

and

inputs

as

described

in

the

following

table

are

categorized

as

Level

2

of

the

fair

value

hierarchy.

To

the

extent

the

significant

inputs

are

unobservable,

the

values

generally

would

be

categorized

as

Level

3.

Assets

and

liabilities

may

be

transferred

between

levels. 

Investments

in

registered

open-end

management

investment

companies

will

be

valued

based

upon

the

net

asset

value

("NAV")

of

such

investments

and

are

categorized

as

Level

1

of

the

fair

value

hierarchy. 

Common

stocks,

exchange-traded

funds

and

financial

derivative

instruments,

such

as

futures

contracts

or

options

contracts,

that

are

traded

on

a

national

securities

or

commodities

exchange,

are

typically

valued

at

the

last

reported

sales

price,

in

the

case

of

common

stocks

and

exchange-traded

funds,

or,

in

the

case

of

futures

contracts

or

options

contracts,

the

settlement

price

determined

by

the

Fixed-income

class

Examples

of

Inputs

All

Benchmark

yields,

transactions,

bids,

offers,

quotations

from

dealers

and

trading

systems,

new

issues,

spreads

and

other

relationships

observed

in

the

markets

among

comparable

securities;

and

proprietary

pricing

models

such

as

yield

measures

calculated

using

factors

such

as

cash

flows,

financial

or

collateral

performance

and

other

reference

data

(collectively

referred

to

as

“standard

inputs”)

Corporate

bonds

and

notes;

    convertible

securities

Standard

inputs

and

underlying

equity

of

the

issuer

US

bonds

and

notes

of

government

and  

    government

agencies

Standard

inputs

Residential

and

commercial

mortgage-backed

obligations;

asset-backed

obligations

(including

collateralized

loan

obligations)

Standard

inputs

and

cash

flows,

prepayment

information,

default

rates,

delinquency

and

loss

assumptions,

collateral

characteristics,

credit

enhancements

and

specific

deal

information,

trustee

reports

Notes

to

Schedule

of

Investments

(Cont.)

10

DoubleLine

ETF

Trust

relevant

exchange.

To

the

extent

these

securities

are

actively

traded

and

valuation

adjustments

are

not

applied,

they

are

categorized

as

Level

1

of

the

fair

value

hierarchy. 

Securities

may

be

fair

valued

by

DoubleLine

ETF

Adviser

LP

(the

“Adviser”)

in

accordance

with

the

fair

valuation

procedures

approved

by

the

Board

of

Trustees

(the

“Board”).

The

Adviser’s

valuation

committee

is

generally

responsible

for

overseeing

the

day

to

day

valuation

processes

and

reports

periodically

to

the

Board.

The

Adviser’s

valuation

committee

and

the

pricing

group

are

authorized

to

make

all

necessary

determinations

of

the

fair

values

of

portfolio

securities

and

other

assets

for

which

market

quotations

or

third

party

vendor

prices

are

not

readily

available

or

if

it

is

deemed

that

the

prices

obtained

from

brokers

and

dealers

or

independent

pricing

services

are

deemed

to

be

unreliable

indicators

of

market

or

fair

value. 

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

to

value

the

Funds'

investments

as

of

June

30,

2022:

Category

DoubleLine

Opportunistic

Bond

ETF

DoubleLine

Shiller

CAPE®

U.S.

Equities

ETF

Investments

in

Securities

Level

1

Common

Stocks

$

—

$

50,561,175

Money

Market

Funds

509,049

214,028

Total

Level

1

509,049

50,775,203

Level

2

US

Government

and

Agency

Obligations

10,721,875

—

US

Corporate

Bonds

10,650,122

—

US

Government

and

Agency

Mortgage

Backed

Obligations

8,608,736

—

Asset

Backed

Obligations

7,191,538

—

Non-Agency

Residential

Collateralized

Mortgage

Obligations

5,134,267

—

Non-Agency

Commercial

Mortgage

Backed

Obligations

4,623,479

—

Foreign

Corporate

Bonds

1,092,551

—

Collateralized

Loan

Obligations

243,703

—

Total

Level

2

48,266,271

—

Level

3

—

—

Total

$

48,775,320

$

50,775,203

See

the

Schedules

of

Investments

for

further

disaggregation

of

investment

categories.