DoubleLine ETF Trust NPORT-P DoubleLine Commercial Real Estate ETF (Dec 2023 report)

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Unaudited)

December

31,

2023

|

December

31,

2023

1

P

RINCIPAL

A

MOUNT

$/S

HARES

S

ECURITY

D

ESCRIPTION

R

ATE

M

ATURITY

V

ALUE

$

ASSET

BACKED

OBLIGATIONS

8.0%

Aaset

Trust

,

485,006

Series

2021-2A-A

2.80%

(a)

01/15/2047

424,713

Affirm

Asset

Securitization

Trust

,

750,000

Series

2022-A-A

4.30%

(a)

05/17/2027

738,327

750,000

Series

2023-X1-A

7.11%

(a)

11/15/2028

752,352

Aligned

Data

Centers

Issuer

LLC

,

600,000

Series

2023-1A-A2

6.00%

(a)

08/17/2048

595,361

AMSR

Trust

,

2,100,000

Series

2023-SFR2-A

3.95%

(a)

06/17/2040

1,979,718

Carvana

Auto

Receivables

Trust

,

1,000,000

Series

2023-P5-A2

5.77%

(a)

04/12/2027

1,003,398

CyrusOne

Data

Centers

Issuer

I

LLC

,

500,000

Series

2023-1A-A2

4.30%

(a)

04/20/2048

457,842

DataBank

Issuer

,

500,000

Series

2023-1A-A2

5.12%

(a)

02/25/2053

470,070

Diamond

Resorts

Owner

Trust

,

138,110

Series

2021-1A-A

1.51%

(a)

11/21/2033

128,797

EWC

Master

Issuer

LLC

,

492,500

Series

2022-1A-A2

5.50%

(a)

03/15/2052

469,026

GLS

Auto

Receivables

Issuer

Trust

,

304,003

Series

2021-2A-C

1.08%

(a)

06/15/2026

298,951

Hilton

Grand

Vacations

Trust

,

240,004

Series

2022-1D-C

4.69%

(a)

06/20/2034

230,679

Lendbuzz

Securitization

Trust

,

642,847

Series

2022-1A-A

4.22%

(a)

05/17/2027

629,305

Lunar

Structured

Aircraft

Portfolio

Notes

,

810,255

Series

2021-1-A

2.64%

(a)

10/15/2046

707,646

MetroNet

Infrastructure

Issuer

LLC

,

300,000

Series

2023-1A-A2

6.56%

(a)

04/20/2053

297,829

Mosaic

Solar

Loan

Trust

,

587,166

Series

2018-2GS-A

4.20%

(a)

02/22/2044

542,877

Pagaya

AI

Debt

Trust

,

350,411

Series

2023-3-A

7.60%

(a)

12/16/2030

352,444

PAGAYA

AI

Debt

Trust

,

151,963

Series

2022-2-A

4.97%

(a)

01/15/2030

151,115

PRET

LLC

,

342,124

Series

2022-NPL2-A1

5.24%

(a)(b)

04/25/2052

336,117

Prosper

Marketplace

Issuance

Trust

,

790,365

Series

2023-1A-A

7.06%

(a)

07/16/2029

794,142

PRPM

LLC

,

998,194

Series

2022-5-A1

6.90%

(a)(b)

09/27/2027

1,000,443

Santander

Drive

Auto

Receivables

Trust

,

542,002

Series

2020-4-D

1.48%

01/15/2027

530,157

SEB

Funding

LLC

,

498,750

Series

2021-1A-A2

4.97%

(a)

01/30/2052

463,053

Sierra

Timeshare

Receivables

Funding

LLC

,

239,199

Series

2019-2A-A

2.59%

(a)

05/20/2036

234,842

SMB

Private

Education

Loan

Trust

,

741,749

Series

2021-A-B

2.31%

(a)

01/15/2053

686,888

STWD

Ltd.

,

300,000

Series

2019-FL1-AS

(CME

Term

SOFR

1

Month

+

1.51%,

1.51%

Floor)

6.88%

(a)

07/15/2038

288,093

Theorem

Funding

Trust

,

292,788

Series

2023-1A-A

7.58%

(a)

04/15/2029

296,178

TierPoint

Issuer

LLC

,

500,000

Series

2023-1A-A2

6.00%

(a)

06/25/2053

489,257

TRTX

Issuer

Ltd.

,

198,054

Series

2021-FL4-A

(CME

Term

SOFR

1

Month

+

1.31%,

1.20%

Floor)

6.68%

(a)

03/15/2038

196,009

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Upstart

Securitization

Trust

,

500,000

Series

2021-4-B

1.84%

(a)

09/20/2031

486,722

1,000,000

Series

2021-5-B

2.49%

(a)

11/20/2031

969,889

Vantage

Data

Centers

Issuer

LLC

,

621,833

Series

2019-1A-A2

3.19%

(a)

07/15/2044

610,452

VOLT

C

LLC

,

318,788

Series

2021-NPL9-A1

1.99%

(a)(b)

05/25/2051

306,236

VOLT

CI

LLC

,

403,351

Series

2021-NP10-A1

1.99%

(a)(b)

05/25/2051

386,536

Washington

Mutual

WMABS

Trust

,

3,596,864

Series

2007-HE2-

2A2

(CME

Term

SOFR

1

Month

+

0.33%,

0.22%

Floor)

5.69%

02/25/2037

1,015,870

Total

Asset

Backed

Obligations

(Cost

$19,246,619)

19,321,334

BANK

LOANS

2.7%

1011778

B.C.

Unlimited

Liability

Co.

,

70,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.25%)

7.61%

09/23/2030

70,112

Access

CIG

LLC

,

34,913

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

5.00%,

0.50%

Floor)

10.39%

08/18/2028

35,014

Acrisure

LLC

,

99,483

Senior

Secured

First

Lien

Term

Loan

(3

Month

LIBOR

USD

+

3.50%)

(c)

9.15%

02/15/2027

99,457

Acuris

Finance

U.S.,

Inc.

,

35,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.00%,

0.50%

Floor)

9.50%

02/16/2028

35,038

ADMI

Corp.

,

29,924

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.50%

Floor)

9.21%

12/23/2027

28,521

AlixPartners

LLP

,

89,311

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.75%,

0.50%

Floor)

8.22%

02/04/2028

89,613

2

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Alliant

Holdings

Intermediate

LLC

,

109,725

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%,

0.50%

Floor)

8.86%

11/06/2030

110,349

Allied

Universal

Holdco

LLC

,

119,389

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.50%

Floor)

9.21%

05/12/2028

119,080

Allspring

Buyer

LLC

,

59,696

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.25%,

0.50%

Floor)

8.95%

11/01/2028

59,580

Alterra

Mountain

Co.

,

89,315

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%,

0.50%

Floor)

8.97%

08/17/2028

89,557

American

Airlines,

Inc.

,

136,051

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.50%)

8.87%

06/04/2029

136,513

Applied

Systems,

Inc.

,

59,550

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.50%,

0.50%

Floor)

9.85%

09/18/2026

59,895

APX

Group,

Inc.

,

114,124

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.25%,

0.50%

Floor)

8.92%

07/10/2028

114,338

AssuredPartners,

Inc.

,

34,900

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.50%

Floor)

9.10%

02/12/2027

35,080

athenahealth

Group,

Inc.

,

39,774

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.25%,

0.50%

Floor)

8.61%

02/15/2029

39,655

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Aveanna

Healthcare

LLC

,

69,822

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%,

0.50%

Floor)

9.24%

07/17/2028

65,184

Bausch

&

Lomb

Corp.

,

74,435

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.25%,

0.50%

Floor)

8.71%

05/10/2027

73,830

29,925

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%)

9.36%

09/29/2028

29,962

BCPE

Empire

Holdings,

Inc.

,

119,400

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.75%,

0.50%

Floor)

10.11%

12/11/2028

119,870

Boxer

Parent

Co.,

Inc.

,

42,941

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%)

9.22%

10/02/2025

43,142

140,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.50%)

9.60%

12/29/2028

141,208

Carnival

Corp.

,

24,875

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.75%

Floor)

8.36%

08/09/2027

24,968

Catalent

Pharma

Solutions,

Inc.

,

119,386

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.00%,

0.50%

Floor)

7.47%

02/22/2028

117,401

Central

Parent

LLC

,

30,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.00%)

9.35%

07/06/2029

30,205

Charter

Communications

Operating

LLC

,

105,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.00%)

7.36%

12/07/2030

104,817

|

December

31,

2023

3

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Charter

Next

Generation,

Inc.

,

30,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.75%

Floor)

9.22%

12/01/2027

30,174

CHG

Healthcare

Services,

Inc.

,

129,010

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.25%,

0.50%

Floor)

8.72%

09/29/2028

129,362

Clarios

Global

LP

,

114,713

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%)

9.11%

05/06/2030

115,114

CQP

Holdco

LP

,

95,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%)

8.36%

12/31/2030

95,335

CSC

Holdings

LLC

,

19,948

Senior

Secured

First

Lien

Term

Loan

(1

Month

LIBOR

USD

+

2.50%)

(c)

7.98%

04/15/2027

18,934

DCert

Buyer,

Inc.

,

34,909

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%)

9.36%

10/16/2026

34,673

DG

Investment

Intermediate

Holdings

2,

Inc.

,

69,821

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.75%

Floor)

9.22%

03/31/2028

69,360

DIRECTV

Financing

LLC

,

23,049

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

5.00%,

0.75%

Floor)

10.65%

08/02/2027

23,091

Dynasty

Acquisition

Co.,

Inc.

,

74,625

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%)

9.36%

08/24/2028

74,911

Fertitta

Entertainment

LLC

,

134,405

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%,

0.50%

Floor)

9.36%

01/27/2029

134,636

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Focus

Financial

Partners

LLC

,

114,413

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.50%,

0.50%

Floor)

7.86%

06/30/2028

114,621

Gainwell

Acquisition

Corp.

,

124,679

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.00%,

0.75%

Floor)

9.45%

10/01/2027

121,562

Genesys

Cloud

Services

Holdings

I

LLC

,

114,705

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%,

0.75%

Floor)

9.47%

12/01/2027

115,288

GIP

Pilot

Acquisition

Partners

LP

,

20,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.00%)

8.39%

10/04/2030

20,030

Graham

Packaging

Co.,

Inc.

,

134,943

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.75%

Floor)

8.47%

08/04/2027

135,293

Great

Outdoors

Group

LLC

,

99,745

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%,

0.75%

Floor)

9.36%

03/06/2028

99,870

Grifols

Worldwide

Operations

Ltd.

,

94,753

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

2.00%)

7.54%

11/15/2027

94,872

GTCR

W

Merger

Sub

LLC

,

85,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.50%

Floor)

8.36%

09/20/2030

85,478

Hub

International

Ltd.

,

14,963

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.25%,

0.75%

Floor)

9.66%

06/20/2030

15,046

4

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Ineos

U.S.

Finance

LLC

,

104,475

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%)

8.96%

02/18/2030

104,736

ION

Trading

Finance

Ltd.

,

59,694

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.75%)

10.20%

04/01/2028

59,839

IRB

Holding

Corp.

,

119,091

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.75%

Floor)

8.45%

12/15/2027

119,431

Jazz

Pharmaceuticals

plc

,

69,212

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%,

0.50%

Floor)

8.97%

05/05/2028

69,659

Kronos

Acquisition

Holdings,

Inc.

,

29,946

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%,

0.50%

Floor)

9.36%

12/22/2026

29,975

LifePoint

Health,

Inc.

,

115,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

5.50%)

11.17%

11/16/2028

114,871

Lummus

Technology

Holdings

V

LLC

,

114,690

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%)

8.97%

06/30/2027

115,042

Mavis

Tire

Express

Services

Topco

Corp.

,

124,223

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%,

0.75%

Floor)

9.47%

05/04/2028

124,612

McAfee

Corp.

,

29,848

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.50%

Floor)

9.19%

03/01/2029

29,805

Medline

Borrower

LP

,

114,091

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.50%

Floor)

8.47%

10/23/2028

114,795

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Mitchell

International,

Inc.

,

35,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%,

0.50%

Floor)

9.40%

10/15/2028

35,035

Olympus

Water

U.S.

Holding

Corp.

,

59,721

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%,

0.50%

Floor)

9.36%

11/09/2028

59,683

Ontario

Gaming

GTA

LP

,

30,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.25%,

0.50%

Floor)

9.60%

08/01/2030

30,166

Osmosis

Buyer

Ltd.

,

139,130

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.50%

Floor)

9.09%

07/31/2028

139,410

Parexel

International,

Inc.

,

114,129

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.25%,

0.50%

Floor)

8.72%

11/15/2028

114,942

Penn

Entertainment,

Inc.

,

128,743

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.75%,

0.50%

Floor)

8.20%

05/03/2029

129,212

Perrigo

Co.

plc

,

144,773

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.25%,

0.50%

Floor)

7.70%

04/20/2029

144,833

PetSmart

LLC

,

119,086

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.75%

Floor)

9.21%

02/11/2028

117,955

Playa

Resorts

Holding

BV

,

59,698

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.25%,

0.50%

Floor)

9.61%

01/05/2029

59,837

|

December

31,

2023

5

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

PMHC

II,

Inc.

,

29,924

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

4.25%,

0.50%

Floor)

9.81%

04/23/2029

28,749

Pregis

TopCo

LLC

,

49,741

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%)

9.11%

07/31/2026

49,916

Proofpoint,

Inc.

,

128,574

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.25%,

0.50%

Floor)

8.72%

08/31/2028

128,793

QUIKRETE

Holdings,

Inc.

,

24,873

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.75%)

8.22%

03/19/2029

24,977

RealPage,

Inc.

,

119,389

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.50%

Floor)

8.47%

04/24/2028

118,726

Scientific

Games

Holdings

LP

,

44,773

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.25%,

0.50%

Floor)

8.66%

04/04/2029

44,846

SMG

U.S.

Midco

2,

Inc.

,

119,070

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

2.50%)

8.14%

01/23/2025

119,382

Sophia

LP

,

114,453

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%,

0.50%

Floor)

8.96%

10/07/2027

114,837

Sotera

Health

Holdings

LLC

,

115,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

2.75%,

0.50%

Floor)

8.39%

12/11/2026

115,096

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

SRS

Distribution,

Inc.

,

130,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.50%,

0.50%

Floor)

8.97%

06/02/2028

130,380

SWF

Holdings

I

Corp.

,

34,823

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

4.00%,

0.75%

Floor)

9.47%

10/06/2028

31,286

TransDigm,

Inc.

,

50,000

Senior

Secured

First

Lien

Term

Loan

(1

Month

LIBOR

USD

+

3.25%)

(c)

8.60%

02/14/2031

50,284

UKG,

Inc.

,

119,067

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

3

Month

+

3.75%)

9.23%

05/04/2026

119,498

United

AirLines,

Inc.

,

34,910

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.75%,

0.75%

Floor)

9.22%

04/21/2028

35,085

Virgin

Media

Bristol

LLC

,

115,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

6

Month

+

3.25%)

8.79%

03/31/2031

114,784

Wand

Newco

3,

Inc.

,

49,741

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.75%)

8.22%

02/05/2026

49,949

Whatabrands

LLC

,

119,089

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%,

0.50%

Floor)

8.47%

08/03/2028

119,440

Wyndham

Hotels

&

Resorts,

Inc.

,

59,700

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

2.25%)

7.71%

05/24/2030

59,928

Zayo

Group

Holdings,

Inc.

,

30,000

Senior

Secured

First

Lien

Term

Loan

(CME

Term

SOFR

1

Month

+

3.00%)

8.47%

03/09/2027

25,865

Total

Bank

Loans

(Cost

$6,522,629)

6,595,698

6

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

COLLATERALIZED

LOAN

OBLIGATIONS

3.9%

37

Capital

CLO

4

Ltd.

,

500,000

Series

2023-2A-B

(CME

Term

SOFR

3

Month

+

2.75%,

2.75%

Floor)

8.12%

(a)

01/15/2034

501,640

Bain

Capital

Credit

CLO

Ltd.

,

500,000

Series

2023-4A-C

(CME

Term

SOFR

3

Month

+

2.90%,

2.90%

Floor)

8.32%

(a)

10/21/2036

503,862

CBAM

Ltd.

,

500,000

Series

2017-2A-BR

(CME

Term

SOFR

3

Month

+

2.11%,

1.85%

Floor)

7.51%

(a)

07/17/2034

496,503

Dryden

78

CLO

Ltd.

,

500,000

Series

2020-78A-B

(CME

Term

SOFR

3

Month

+

1.76%,

1.50%

Floor)

7.16%

(a)

04/17/2033

497,168

Eaton

Vance

CLO

Ltd.

,

500,000

Series

2013-1A-A23R

(CME

Term

SOFR

3

Month

+

1.81%,

1.55%

Floor)

7.21%

(a)

01/15/2034

495,670

Empower

CLO

Ltd.

,

500,000

Series

2023-2A-B

(CME

Term

SOFR

3

Month

+

2.75%,

2.75%

Floor)

8.09%

(a)

07/15/2036

503,012

LoanCore

Issuer

Ltd.

,

199,106

Series

2021-CRE5-A

(CME

Term

SOFR

1

Month

+

1.41%,

1.41%

Floor)

6.78%

(a)

07/15/2036

196,153

Marble

Point

CLO

XI

Ltd.

,

500,000

Series

2017-2A-B

(CME

Term

SOFR

3

Month

+

1.76%,

1.50%

Floor)

7.16%

(a)

12/18/2030

494,129

MF1

Ltd.

,

158,644

Series

2021-FL7-A

(CME

Term

SOFR

1

Month

+

1.19%,

1.08%

Floor)

6.55%

(a)

10/16/2036

156,620

Octagon

Investment

Partners

45

Ltd.

,

500,000

Series

2019-1A-BR

(CME

Term

SOFR

3

Month

+

1.85%,

1.85%

Floor)

7.24%

(a)

04/15/2035

494,610

Park

Avenue

Institutional

Advisers

CLO

Ltd.

,

500,000

Series

2018-1A-BR

(CME

Term

SOFR

3

Month

+

2.36%,

2.10%

Floor)

7.78%

(a)

10/20/2031

496,742

Race

Point

IX

CLO

Ltd.

,

1,000,000

Series

2015-9A-BR

(CME

Term

SOFR

3

Month

+

2.41%,

0.26%

Floor)

7.81%

(a)

10/15/2030

990,904

Steele

Creek

CLO

Ltd.

,

856,673

Series

2017-1A-A

(CME

Term

SOFR

3

Month

+

1.51%)

6.91%

(a)

10/15/2030

857,623

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Stratus

CLO

Ltd.

,

500,000

Series

2021-1A-C

(CME

Term

SOFR

3

Month

+

2.01%,

2.01%

Floor)

7.43%

(a)

12/29/2029

501,258

STWD

Ltd.

,

159,713

Series

2021-FL2-A

(CME

Term

SOFR

1

Month

+

1.31%,

1.20%

Floor)

6.67%

(a)

04/18/2038

156,674

Venture

XXVI

CLO

Ltd.

,

500,000

Series

2017-26A-BR

(CME

Term

SOFR

3

Month

+

1.96%,

1.70%

Floor)

7.38%

(a)

01/20/2029

497,265

Voya

CLO

Ltd.

,

1,000,000

Series

2013-1A-BR

(CME

Term

SOFR

3

Month

+

2.16%)

7.56%

(a)

10/15/2030

990,055

Wellfleet

CLO

Ltd.

,

500,000

Series

2017-3A-A2

(CME

Term

SOFR

3

Month

+

1.76%,

1.50%

Floor)

7.16%

(a)

01/17/2031

497,928

Total

Collateralized

Loan

Obligations

(Cost

$9,145,643)

9,327,816

FOREIGN

CORPORATE

BONDS

7.4%

AUSTRALIA

0.4%

265,000

BHP

Billiton

Finance

USA

Ltd.

5.25%

09/08/2030

274,696

175,000

Glencore

Funding

LLC

1.63%

(a)

04/27/2026

162,300

330,000

Macquarie

Group

Ltd.

(SOFR

+

2.21%)

5.11%

(a)

08/09/2026

328,809

335,000

Westpac

Banking

Corp.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.53%)

3.02%

11/18/2036

272,680

1,038,485

BERMUDA

0.1%

310,000

Triton

Container

International

Ltd.

3.25%

03/15/2032

248,753

BRAZIL

0.9%

200,000

Banco

do

Brasil

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

4.40%)

6.25%

(d)

04/15/2024

195,646

200,000

Banco

do

Estado

do

Rio

Grande

do

Sul

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.93%)

5.38%

01/28/2031

187,564

|

December

31,

2023

7

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

200,000

Braskem

Netherlands

Finance

BV

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

8.22%)

8.50%

01/23/2081

172,188

250,000

Cosan

Overseas

Ltd.

8.25%

(d)

02/05/2024

249,316

200,000

CSN

Resources

SA

5.88%

04/08/2032

174,133

342,716

Guara

Norte

Sarl

5.20%

06/15/2034

312,592

200,000

Minerva

Luxembourg

SA

4.38%

03/18/2031

165,091

161,272

MV24

Capital

BV

6.75%

06/01/2034

151,082

200,000

NBM

US

Holdings,

Inc.

6.63%

08/06/2029

196,279

200,000

Rumo

Luxembourg

Sarl

4.20%

01/18/2032

170,464

200,000

Simpar

Europe

SA

5.20%

01/26/2031

173,465

2,147,820

CANADA

0.7%

285,000

Bank

of

Montreal

(5

Year

Swap

Rate

USD

+

1.43%)

3.80%

12/15/2032

262,463

535,000

Bank

of

Nova

Scotia

(The)

3.45%

04/11/2025

523,850

170,000

Bombardier,

Inc.

7.88%

(a)

04/15/2027

170,191

75,000

Bombardier,

Inc.

8.75%

(a)

11/15/2030

79,946

30,000

Garda

World

Security

Corp.

4.63%

(a)

02/15/2027

28,944

35,000

Garda

World

Security

Corp.

6.00%

(a)

06/01/2029

31,411

55,000

GFL

Environmental,

Inc.

6.75%

(a)

01/15/2031

56,734

80,000

Parkland

Corp.

4.63%

(a)

05/01/2030

73,688

85,000

Titan

Acquisition

Ltd.

7.75%

(a)

04/15/2026

85,618

260,000

Toronto-Dominion

Bank

(The)

4.69%

09/15/2027

260,139

1,572,984

CAYMAN

ISLANDS

0.1%

205,000

Global

Aircraft

Leasing

Co.

Ltd.

6.50%

(a)

09/15/2024

192,939

CHILE

0.3%

200,000

Agrosuper

SA

4.60%

01/20/2032

172,201

400,000

CAP

SA

3.90%

04/27/2031

311,600

200,000

Chile

Electricity

PEC

SpA

0.00%

01/25/2028

159,894

643,695

CHINA

0.2%

550,000

NXP

BV

3.88%

06/18/2026

536,060

COLOMBIA

0.8%

206,250

AI

Candelaria

Spain

SA

7.50%

12/15/2028

195,667

250,000

AI

Candelaria

Spain

SA

5.75%

06/15/2033

194,110

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

350,000

Banco

GNB

Sudameris

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.56%)

7.05%

04/03/2027

340,605

200,000

Bancolombia

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.94%)

4.63%

12/18/2029

185,547

200,000

Canacol

Energy

Ltd.

5.75%

11/24/2028

146,048

200,000

Empresas

Publicas

de

Medellin

ESP

4.25%

07/18/2029

170,676

182,000

Fideicomiso

PA

Pacifico

Tres

8.25%

01/15/2035

173,696

400,000

Geopark

Ltd.

5.50%

01/17/2027

354,537

200,000

Gran

Tierra

Energy,

Inc.

9.50%

(a)

10/15/2029

175,787

1,936,673

GUATEMALA

0.3%

150,000

Banco

Industrial

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.44%)

4.88%

01/29/2031

141,308

400,000

CT

Trust

5.13%

02/03/2032

350,023

180,000

Millicom

International

Cellular

SA

6.25%

03/25/2029

170,778

662,109

INDIA

0.5%

200,000

Adani

Electricity

Mumbai

Ltd.

3.87%

07/22/2031

155,552

177,500

Adani

International

Container

Terminal

Pvt.

Ltd.

3.00%

02/16/2031

145,703

400,000

Adani

Ports

&

Special

Economic

Zone

Ltd.

3.83%

02/02/2032

310,457

157,000

Adani

Transmission

Step-One

Ltd.

4.25%

05/21/2036

126,710

161,000

JSW

Hydro

Energy

Ltd.

4.13%

05/18/2031

140,454

200,000

Network

i2i

Ltd.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.27%)

5.65%

(d)

01/15/2025

198,086

200,000

UPL

Corp.

Ltd.

4.50%

03/08/2028

177,392

1,254,354

INDONESIA

0.4%

200,000

Freeport

Indonesia

PT

5.32%

04/14/2032

196,616

200,000

Indonesia

Asahan

Aluminium

PT

5.45%

05/15/2030

201,998

321,840

LLPL

Capital

Pte.

Ltd.

6.88%

02/04/2039

310,617

200,000

Minejesa

Capital

BV

4.63%

08/10/2030

190,250

8

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

200,000

Minejesa

Capital

BV

5.63%

08/10/2037

175,728

1,075,209

IRELAND

0.2%

485,000

Avolon

Holdings

Funding

Ltd.

3.25%

(a)

02/15/2027

448,938

KUWAIT

0.1%

200,000

MEGlobal

Canada

ULC

5.00%

05/18/2025

197,990

MEXICO

0.8%

200,000

Banco

Mercantil

del

Norte

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.64%)

5.88%

(d)

01/24/2027

184,278

200,000

Banco

Mercantil

del

Norte

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

5.35%)

7.63%

(d)

01/10/2028

192,426

200,000

Banco

Nacional

de

Comercio

Exterior

SNC

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%)

2.72%

08/11/2031

170,895

200,000

Banco

Santander

Mexico

SA

Institucion

de

Banca

Multiple

Grupo

Financiero

Santand

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%)

7.53%

10/01/2028

209,460

400,000

BBVA

Bancomer

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.65%)

5.13%

01/18/2033

362,738

200,000

Cemex

SAB

de

CV

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.16%)

9.13%

(a)(d)

03/14/2028

213,250

200,000

Industrias

Penoles

SAB

de

CV

4.15%

09/12/2029

186,907

379,272

Mexico

Generadora

de

Energia

S

de

rl

5.50%

12/06/2032

369,923

100,000

Petroleos

Mexicanos

6.75%

09/21/2047

65,558

1,955,435

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

PANAMA

0.1%

200,000

Global

Bank

Corp.

(3

Month

LIBOR

USD

+

3.30%)

(c)

5.25%

04/16/2029

179,244

PARAGUAY

0.2%

200,000

Frigorifico

Concepcion

SA

7.70%

07/21/2028

169,505

346,667

Rutas

2

&

7

Finance

Ltd.

0.00%

09/30/2036

230,785

400,290

PERU

0.9%

250,000

Banco

de

Credito

del

Peru

SA

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%)

3.13%

07/01/2030

238,016

150,000

Banco

Internacional

del

Peru

SAA

Interbank

(3

Month

LIBOR

USD

+

5.76%)

(c)

6.63%

03/19/2029

149,428

200,000

Banco

Internacional

del

Peru

SAA

Interbank

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.71%)

4.00%

07/08/2030

191,676

400,000

Cia

de

Minas

Buenaventura

SAA

5.50%

07/23/2026

382,217

200,000

Corp.

Financiera

de

Desarrollo

SA

(3

Month

LIBOR

USD

+

5.61%)

(c)

5.25%

07/15/2029

198,329

200,000

Inkia

Energy

Ltd.

5.88%

11/09/2027

191,261

88,849

Lima

Metro

Line

2

Finance

Ltd.

5.88%

07/05/2034

88,001

209,000

Orazul

Energy

Peru

SA

5.63%

04/28/2027

197,183

400,000

Petroleos

del

Peru

SA

5.63%

06/19/2047

246,790

200,000

Transportadora

de

Gas

del

Peru

SA

4.25%

04/30/2028

197,067

2,079,968

SAUDI

ARABIA

0.1%

200,000

EIG

Pearl

Holdings

Sarl

3.55%

08/31/2036

174,680

SINGAPORE

0.1%

200,000

Oversea-Chinese

Banking

Corp.

Ltd.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.58%)

1.83%

09/10/2030

188,208

|

December

31,

2023

9

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

200,000

United

Overseas

Bank

Ltd.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.23%)

2.00%

10/14/2031

182,303

370,511

SOUTH

AFRICA

0.1%

200,000

Sasol

Financing

USA

LLC

4.38%

09/18/2026

186,479

200,000

Sasol

Financing

USA

LLC

5.50%

03/18/2031

168,672

355,151

VIETNAM

0.1%

230,573

Mong

Duong

Finance

Holdings

BV

5.13%

05/07/2029

214,716

Total

Foreign

Corporate

Bonds

(Cost

$17,193,183)

17,686,004

NON-AGENCY

COMMERCIAL

MORTGAGE

BACKED

OBLIGATIONS

5.9%

BANK

,

300,000

Series

2018-BN11-C

4.37%

(e)

03/15/2061

254,325

200,000

Series

2018-BN14-A3

3.97%

09/15/2060

191,678

160,000

Series

2019-BN23-A3

2.92%

12/15/2052

141,869

220,000

Series

2021-BN32-A4

2.35%

04/15/2054

187,435

300,000

Series

2021-BN38-A5

2.52%

12/15/2064

250,042

307,000

Series

2022-BNK43-C

5.23%

(e)

08/15/2055

231,247

6,006,263

Series

2023-BNK46-XA

0.62%

(e)(f)

08/15/2056

243,945

Bank

of

America

Merrill

Lynch

Commercial

Mortgage

Trust

,

266,000

Series

2016-UB10-C

4.82%

(e)

07/15/2049

231,349

197,912

Series

2017-BNK3-A3

3.31%

02/15/2050

187,848

BANK5

,

11,936,158

Series

2023-5YR1-XA

0.27%

(e)(f)

04/15/2056

136,800

BBCMS

Mortgage

Trust

,

300,000

Series

2021-C12-A5

2.69%

11/15/2054

255,415

180,000

Series

2021-C12-AS

2.90%

11/15/2054

147,015

250,000

Series

2021-C9-A5

2.30%

02/15/2054

209,998

100,000

Series

2022-C16-A5

4.60%

(e)

06/15/2055

97,385

200,000

Series

2022-C17-A5

4.44%

09/15/2055

192,487

250,000

Series

2023-C19-A5

5.45%

04/15/2056

258,616

Benchmark

Mortgage

Trust

,

7,559,498

Series

2018-B2-XA

0.45%

(e)(f)

02/15/2051

98,753

150,000

Series

2019-B14-ASB

2.96%

12/15/2062

140,944

190,000

Series

2020-B19-A2

1.69%

09/15/2053

174,093

250,000

Series

2021-B31-A5

2.67%

12/15/2054

210,774

250,000

Series

2022-B35-C

4.44%

(e)

05/15/2055

176,326

305,000

Series

2022-B37-C

5.75%

(e)

11/15/2055

231,155

200,000

Series

2023-B38-A4

5.52%

04/15/2056

206,359

7,096,834

Series

2023-V3-XA

0.81%

(e)(f)

07/15/2056

229,917

Cantor

Commercial

Real

Estate

Lending

,

500,000

Series

2019-CF1-C

4.35%

(e)

05/15/2052

382,829

CFCRE

Commercial

Mortgage

Trust

,

184,634

Series

2016-C6-A2

2.95%

11/10/2049

174,928

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Citigroup

Commercial

Mortgage

Trust

,

250,000

Series

2015-GC27-C

4.42%

(e)

02/10/2048

231,364

311,815

Series

2017-P7-A3

3.44%

04/14/2050

295,534

300,000

Series

2018-B2-A3

3.74%

03/10/2051

283,510

272,432

Series

2018-C5-A3

3.96%

06/10/2051

261,146

100,000

Series

2022-GC48-A5

4.58%

(e)

05/15/2054

97,671

Commercial

Mortgage

Trust

,

205,000

Series

2016-DC2-C

4.66%

(e)

02/10/2049

186,237

CSMC

Trust

,

273,000

Series

2021-B33-A2

3.17%

(a)

10/10/2043

208,083

DBJPM

Mortgage

Trust

,

290,000

Series

2016-C1-B

4.20%

(e)

05/10/2049

259,393

250,000

Series

2016-C1-C

3.32%

(e)

05/10/2049

212,502

250,000

Series

2020-C9-ASB

1.88%

08/15/2053

219,260

Del

Amo

Fashion

Center

Trust

,

250,000

Series

2017-AMO-C

3.64%

(a)(e)

06/05/2035

204,453

FIVE

Mortgage

Trust

,

250,000

Series

2023-V1-D

6.40%

(a)(e)

02/10/2056

211,164

GS

Mortgage

Securities

Corp.

II

,

250,000

Series

2023-SHIP-A

4.32%

(a)(e)

09/10/2038

243,215

GS

Mortgage

Securities

Trust

,

9,393,474

Series

2017-GS7-XA

1.08%

(e)(f)

08/10/2050

275,436

250,000

Series

2019-GC42-A3

2.75%

09/10/2052

222,358

250,000

Series

2019-GSA1-C

3.81%

(e)

11/10/2052

193,721

IMT

Trust

,

250,000

Series

2017-APTS-AFX

3.48%

(a)

06/15/2034

245,956

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

488,140

Series

2022-NLP-A

(CME

Term

SOFR

1

Month

+

0.60%,

0.60%

Floor)

5.96%

(a)

04/15/2037

450,213

JPMBB

Commercial

Mortgage

Securities

Trust

,

325,000

Series

2014-C21-B

4.34%

(e)

08/15/2047

298,691

JPMCC

Commercial

Mortgage

Securities

Trust

,

8,082,635

Series

2017-JP6-XA

1.02%

(e)(f)

07/15/2050

194,880

LSTAR

Commercial

Mortgage

Trust

,

250,000

Series

2015-3-D

3.13%

(a)(e)

04/20/2048

232,311

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

250,000

Series

2016-C31-C

4.26%

(e)

11/15/2049

195,256

Morgan

Stanley

Capital

I

Trust

,

283,000

Series

2018-L1-C

4.78%

(e)

10/15/2051

229,248

MSWF

Commercial

Mortgage

Trust

,

250,000

Series

2023-2-A1

5.96%

12/15/2056

251,359

NJ

Trust

,

250,000

Series

2023-GSP-A

6.70%

(a)(e)

01/06/2029

257,934

RIAL

Issuer

Ltd.

,

350,000

Series

2022-FL8-A

(CME

Term

SOFR

1

Month

+

2.25%,

2.25%

Floor)

7.61%

(a)

01/19/2037

344,839

SREIT

Trust

,

258,353

Series

2021-MFP-A

(CME

Term

SOFR

1

Month

+

0.85%,

0.73%

Floor)

6.21%

(a)

11/15/2038

254,307

UBS

Commercial

Mortgage

Trust

,

273,308

Series

2017-C4-A3

3.30%

10/15/2050

256,271

324,000

Series

2018-C10-C

5.05%

(e)

05/15/2051

264,672

200,000

Series

2018-C8-C

4.68%

(e)

02/15/2051

166,569

Wells

Fargo

Commercial

Mortgage

Trust

,

301,863

Series

2015-C27-A4

3.19%

02/15/2048

294,120

10

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

250,000

Series

2015-LC22-A4

3.84%

09/15/2058

242,466

306,000

Series

2017-C41-B

4.19%

(e)

11/15/2050

264,736

320,000

Series

2018-C45-C

4.73%

06/15/2051

282,537

270,000

Series

2020-C58-A3

1.81%

07/15/2053

225,804

246,000

Series

2021-C60-A3

2.06%

08/15/2054

205,360

WFRBS

Commercial

Mortgage

Trust

,

8,834,873

Series

2014-C21-XA

0.98%

(e)(f)

08/15/2047

42,509

Total

Non-Agency

Commercial

Mortgage

Backed

Obligations

(Cost

$14,285,858)

14,048,617

NON-AGENCY

RESIDENTIAL

COLLATERALIZED

MORTGAGE

OBLIGATIONS

10.1%

BRAVO

Residential

Funding

Trust

,

1,216,151

Series

2023-NQM3-A1

4.85%

(a)(b)

09/25/2062

1,198,118

1,907,681

Series

2023-NQM5-A1

6.50%

(a)(b)

06/25/2063

1,929,603

Citigroup

Mortgage

Loan

Trust

,

529,008

Series

2007-AR8-2A1A

4.50%

(e)

07/25/2037

462,092

Connecticut

Avenue

Securities

Trust

,

500,000

Series

2022-R01-

1M2

(SOFR

30

Day

Average

+

1.90%)

7.24%

(a)

12/25/2041

501,563

Deephaven

Residential

Mortgage

Trust

,

973,640

Series

2022-2-A1

4.30%

(a)(e)

03/25/2067

928,783

FHLMC

STACR

REMIC

Trust

,

500,000

Series

2022-DNA2-

M1B

(SOFR

30

Day

Average

+

2.40%)

7.74%

(a)

02/25/2042

506,823

HOMES

Trust

,

902,159

Series

2023-NQM1-A1

6.18%

(a)(b)

01/25/2068

909,101

Legacy

Mortgage

Asset

Trust

,

432,368

Series

2021-GS2-A1

1.75%

(a)(b)

04/25/2061

418,774

New

Residential

Mortgage

Loan

Trust

,

943,162

Series

2019-RPL2-A1

3.25%

(a)(e)

02/25/2059

902,579

OBX

Trust

,

1,700,000

Series

2023-NQM10-A1

6.46%

(a)(b)

10/25/2063

1,722,217

901,821

Series

2023-NQM2-A1

6.32%

(a)(b)

01/25/2062

910,073

902,880

Series

2023-NQM3-A3

6.76%

(a)(b)

02/25/2063

907,567

RFMSI

Trust

,

1,409,986

Series

2006-S4-A7

6.00%

04/25/2036

1,114,056

Structured

Asset

Mortgage

Investments

II

Trust

,

1,315,290

Series

2007-AR3-

1A3

(CME

Term

SOFR

1

Month

+

0.53%,

0.42%

Floor)

5.89%

09/25/2047

1,091,353

Towd

Point

Mortgage

Trust

,

1,761,749

Series

2018-5-A1

3.25%

(a)(e)

07/25/2058

1,659,828

2,387,885

Series

2020-2-A1A

1.64%

(a)(e)

04/25/2060

2,122,991

258,517

Series

2020-3-A1

3.09%

(a)(e)

02/25/2063

245,849

1,003,498

Series

2022-1-A1

3.75%

(a)(e)

07/25/2062

941,241

Verus

Securitization

Trust

,

522,781

Series

2021-8-A1

1.82%

(a)(e)

11/25/2066

454,379

1,328,086

Series

2023-4-A1

5.81%

(a)(b)

05/25/2068

1,327,490

873,664

Series

2023-INV1-A3

6.76%

(a)(b)

02/25/2068

877,225

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

2,489,250

Series

2023-INV3-A1

6.88%

(a)(e)

11/25/2068

2,538,479

WaMu

Mortgage-Backed

Pass-Through

Certificates

Trust

,

423,032

Series

2006-AR16-2A1

4.34%

(e)

12/25/2036

367,400

Wells

Fargo

Mortgage

Backed

Securities

Trust

,

327,436

Series

2006-AR14-2A1

6.38%

(e)

10/25/2036

289,369

Total

Non-Agency

Residential

Collateralized

Mortgage

Obligations

(Cost

$24,302,559)

24,326,953

US

CORPORATE

BONDS

14.0%

590,000

AbbVie,

Inc.

4.70%

05/14/2045

562,050

160,000

Academy

Ltd.

6.00%

(a)

11/15/2027

157,311

75,000

AdaptHealth

LLC

5.13%

(a)

03/01/2030

58,602

195,000

Advanced

Drainage

Systems,

Inc.

6.38%

(a)

06/15/2030

196,586

100,000

AEP

Transmission

Co.

LLC

5.40%

03/15/2053

104,108

40,000

Aethon

United

BR

LP

8.25%

(a)

02/15/2026

40,241

270,000

Air

Lease

Corp.

1.88%

08/15/2026

248,498

435,000

Alexandria

Real

Estate

Equities,

Inc.

3.00%

05/18/2051

287,037

65,000

Alliant

Holdings

Intermediate

LLC

6.75%

(a)

04/15/2028

66,538

125,000

Allied

Universal

Holdco

LLC

6.63%

(a)

07/15/2026

124,461

70,000

Allied

Universal

Holdco

LLC

9.75%

(a)

07/15/2027

68,671

195,000

American

Airlines,

Inc.

7.25%

(a)

02/15/2028

197,407

65,000

American

Airlines,

Inc.

5.75%

(a)

04/20/2029

63,434

110,000

American

Airlines,

Inc.

8.50%

(a)

05/15/2029

116,229

245,000

American

Express

Co.

5.85%

11/05/2027

255,593

65,000

Amgen,

Inc.

5.25%

03/02/2030

66,850

110,000

Amgen,

Inc.

5.75%

03/02/2063

115,544

220,000

AssuredPartners,

Inc.

5.63%

(a)

01/15/2029

205,625

390,000

AT&T,

Inc.

3.50%

09/15/2053

283,347

135,000

AthenaHealth

Group,

Inc.

6.50%

(a)

02/15/2030

122,649

205,000

Athene

Global

Funding

(SOFR

Compounded

Index

+

0.56%)

5.98%

(a)

08/19/2024

204,205

210,000

Athene

Holding

Ltd.

5.88%

01/15/2034

212,158

55,000

Bank

of

America

Corp.

(SOFR

+

1.11%)

3.84%

04/25/2025

54,655

45,000

Bank

of

America

Corp.

(SOFR

+

1.75%)

4.83%

07/22/2026

44,680

553,000

Bank

of

America

Corp.

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.20%)

2.48%

09/21/2036

438,284

|

December

31,

2023

11

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

180,000

Bausch

&

Lomb

Escrow

Corp.

8.38%

(a)

10/01/2028

190,114

60,000

BCPE

Empire

Holdings,

Inc.

7.63%

(a)

05/01/2027

57,918

160,000

Beacon

Roofing

Supply,

Inc.

6.50%

(a)

08/01/2030

163,718

240,000

Becton

Dickinson

&

Co.

4.69%

02/13/2028

241,161

305,000

Boeing

Co.

(The)

2.95%

02/01/2030

275,000

270,000

BP

Capital

Markets

America,

Inc.

4.89%

09/11/2033

274,846

720,000

Broadcom,

Inc.

3.50%

(a)

02/15/2041

571,363

90,000

Builders

FirstSource,

Inc.

5.00%

(a)

03/01/2030

87,006

95,000

Builders

FirstSource,

Inc.

6.38%

(a)

06/15/2032

97,112

50,000

Callon

Petroleum

Co.

7.50%

(a)

06/15/2030

50,479

50,000

Calpine

Corp.

5.13%

(a)

03/15/2028

47,970

210,000

Carnival

Corp.

5.75%

(a)

03/01/2027

204,999

25,000

Carrier

Global

Corp.

6.20%

(a)

03/15/2054

28,929

125,000

CCO

Holdings

LLC

5.13%

(a)

05/01/2027

120,849

145,000

CCO

Holdings

LLC

4.75%

(a)

02/01/2032

128,050

75,000

Central

Parent

LLC

8.00%

(a)

06/15/2029

78,340

535,000

Charter

Communications

Operating

LLC

4.91%

07/23/2025

530,218

275,000

Cheniere

Energy,

Inc.

4.63%

10/15/2028

268,627

70,000

Chesapeake

Energy

Corp.

5.88%

(a)

02/01/2029

68,673

40,000

Chord

Energy

Corp.

6.38%

(a)

06/01/2026

40,040

30,000

CHS/Community

Health

Systems,

Inc.

6.00%

(a)

01/15/2029

27,038

475,000

Citigroup,

Inc.

(SOFR

+

1.35%)

3.06%

01/25/2033

405,423

95,000

Civitas

Resources,

Inc.

8.38%

(a)

07/01/2028

99,294

25,000

Clear

Channel

Outdoor

Holdings,

Inc.

7.75%

(a)

04/15/2028

21,579

60,000

CNX

Resources

Corp.

6.00%

(a)

01/15/2029

57,589

290,000

Comcast

Corp.

3.40%

04/01/2030

271,549

295,000

Constellation

Brands,

Inc.

3.15%

08/01/2029

274,397

65,000

Coty,

Inc.

5.00%

(a)

04/15/2026

64,014

235,000

Coty,

Inc.

6.63%

(a)

07/15/2030

241,565

287,000

Crown

Castle,

Inc.

3.65%

09/01/2027

273,109

350,000

CSX

Corp.

3.80%

11/01/2046

291,306

65,000

CVS

Health

Corp.

5.13%

02/21/2030

66,047

135,000

CVS

Health

Corp.

5.30%

06/01/2033

138,597

135,000

CVS

Health

Corp.

5.88%

06/01/2053

142,172

120,000

Directv

Financing

LLC

5.88%

(a)

08/15/2027

112,848

543,000

Dollar

Tree,

Inc.

4.00%

05/15/2025

533,533

120,000

Dornoch

Debt

Merger

Sub,

Inc.

6.63%

(a)

10/15/2029

108,338

125,000

DTE

Energy

Co.

4.22%

(b)

11/01/2024

123,616

105,000

Duke

Energy

Carolinas

LLC

3.55%

03/15/2052

80,637

70,000

Duke

Energy

Corp.

4.30%

03/15/2028

69,070

90,000

Duke

Energy

Corp.

5.00%

08/15/2052

84,219

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

85,000

Dun

&

Bradstreet

Corp.

(The)

5.00%

(a)

12/15/2029

79,382

235,000

Elevance

Health,

Inc.

2.38%

01/15/2025

228,324

95,000

Elevance

Health,

Inc.

4.55%

05/15/2052

86,790

270,000

Energy

Transfer

LP

4.75%

01/15/2026

268,368

85,000

Entergy

Louisiana

LLC

4.75%

09/15/2052

78,277

95,000

EQM

Midstream

Partners

LP

6.50%

(a)

07/01/2027

96,791

150,000

Equinix,

Inc.

3.90%

04/15/2032

139,365

265,000

Equinix,

Inc.

2.95%

09/15/2051

177,353

305,000

Essential

Utilities,

Inc.

2.70%

04/15/2030

266,821

80,000

Everi

Holdings,

Inc.

5.00%

(a)

07/15/2029

72,717

170,000

Exelon

Corp.

5.15%

03/15/2028

172,928

265,000

Expedia

Group,

Inc.

5.00%

02/15/2026

264,850

300,000

Expedia

Group,

Inc.

3.25%

02/15/2030

275,201

75,000

Ferrellgas

LP

5.38%

(a)

04/01/2026

73,470

35,000

Fertitta

Entertainment

LLC

6.75%

(a)

01/15/2030

30,770

165,000

Ford

Motor

Co.

3.25%

02/12/2032

137,300

210,000

Fortrea

Holdings,

Inc.

7.50%

(a)

07/01/2030

215,927

135,000

Fortress

Transportation

and

Infrastructure

Investors

LLC

7.88%

(a)

12/01/2030

140,769

60,000

Frontier

Communications

Holdings

LLC

5.88%

(a)

10/15/2027

58,016

55,000

Frontier

Communications

Holdings

LLC

8.63%

(a)

03/15/2031

56,122

310,000

General

Motors

Financial

Co.,

Inc.

2.40%

10/15/2028

275,455

80,000

Gilead

Sciences,

Inc.

5.55%

10/15/2053

86,752

135,000

Global

Payments,

Inc.

4.95%

08/15/2027

135,300

530,000

Goldman

Sachs

Group,

Inc.

(The)

(SOFR

+

0.82%)

6.23%

09/10/2027

519,763

105,000

Griffon

Corp.

5.75%

03/01/2028

103,297

40,000

Gulfport

Energy

Corp.

8.00%

(a)

05/17/2026

40,477

285,000

HCA,

Inc.

4.13%

06/15/2029

272,682

90,000

Hess

Midstream

Operations

LP

5.50%

(a)

10/15/2030

87,209

105,000

Hewlett

Packard

Enterprise

Co.

5.90%

10/01/2024

105,294

210,000

Hilcorp

Energy

I

LP

5.75%

(a)

02/01/2029

203,031

20,000

Hilcorp

Energy

I

LP

8.38%

(a)

11/01/2033

21,220

300,000

Host

Hotels

&

Resorts

LP

3.50%

09/15/2030

267,880

200,000

Hyundai

Capital

America

5.68%

(a)

06/26/2028

203,999

260,000

Intuit,

Inc.

5.50%

09/15/2053

284,600

345,000

Invitation

Homes

Operating

Partnership

LP

2.70%

01/15/2034

277,618

180,000

IQVIA,

Inc.

6.25%

(a)

02/01/2029

188,135

12

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

210,000

Iron

Mountain,

Inc.

7.00%

(a)

02/15/2029

215,986

125,000

JPMorgan

Chase

&

Co.

(SOFR

+

1.99%)

4.85%

07/25/2028

125,097

630,000

JPMorgan

Chase

&

Co.

(SOFR

+

1.26%)

2.96%

01/25/2033

540,088

250,000

Kinder

Morgan

Energy

Partners

LP

6.95%

01/15/2038

274,831

70,000

Level

3

Financing,

Inc.

10.50%

(a)

05/15/2030

67,944

105,000

LifePoint

Health,

Inc.

11.00%

(a)

10/15/2030

110,712

50,000

Light

&

Wonder

International,

Inc.

7.25%

(a)

11/15/2029

51,245

45,000

Live

Nation

Entertainment,

Inc.

6.50%

(a)

05/15/2027

45,817

80,000

Lowe's

Cos.,

Inc.

5.63%

04/15/2053

83,944

55,000

Madison

IAQ

LLC

4.13%

(a)

06/30/2028

50,058

110,000

Madison

IAQ

LLC

5.88%

(a)

06/30/2029

97,054

280,000

Marriott

International,

Inc.

3.13%

06/15/2026

269,187

260,000

Marvell

Technology,

Inc.

5.95%

09/15/2033

275,905

75,000

Match

Group

Holdings

II

LLC

5.00%

(a)

12/15/2027

73,298

140,000

McDonald's

Corp.

3.60%

07/01/2030

132,867

55,000

McGraw-Hill

Education,

Inc.

5.75%

(a)

08/01/2028

53,090

195,000

Medline

Borrower

LP

5.25%

(a)

10/01/2029

184,064

310,000

Meta

Platforms,

Inc.

4.45%

08/15/2052

285,049

40,000

Metis

Merger

Sub

LLC

6.50%

(a)

05/15/2029

36,217

275,000

MetLife,

Inc.

5.25%

01/15/2054

282,930

85,000

Michaels

Cos.,

Inc.

(The)

5.25%

(a)

05/01/2028

67,263

135,000

Midwest

Gaming

Borrower

LLC

4.88%

(a)

05/01/2029

125,699

195,000

ModivCare

Escrow

Issuer,

Inc.

5.00%

(a)

10/01/2029

159,641

381,000

Monongahela

Power

Co.

5.40%

(a)

12/15/2043

373,975

620,000

Morgan

Stanley

(SOFR

+

1.36%)

2.48%

09/16/2036

491,720

50,000

Nationstar

Mortgage

Holdings,

Inc.

5.75%

(a)

11/15/2031

46,692

100,000

NCL

Corp.

Ltd.

8.38%

(a)

02/01/2028

105,952

280,000

NetApp,

Inc.

1.88%

06/22/2025

266,520

115,000

Netflix,

Inc.

4.88%

04/15/2028

116,611

230,000

NGL

Energy

Operating

LLC

7.50%

(a)

02/01/2026

232,484

80,000

NRG

Energy,

Inc.

3.63%

(a)

02/15/2031

68,831

80,000

NuStar

Logistics

LP

6.00%

06/01/2026

79,931

125,000

Occidental

Petroleum

Corp.

6.63%

09/01/2030

133,091

40,000

OneMain

Finance

Corp.

6.88%

03/15/2025

40,523

125,000

ONEOK,

Inc.

6.63%

09/01/2053

140,050

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

20,000

Oracle

Corp.

6.25%

11/09/2032

21,765

35,000

Oracle

Corp.

3.80%

11/15/2037

29,779

65,000

Outfront

Media

Capital

LLC

7.38%

(a)

02/15/2031

68,300

125,000

Owens

&

Minor,

Inc.

6.63%

(a)

04/01/2030

119,507

335,000

Owens

Corning

4.40%

01/30/2048

292,511

325,000

Pacific

Gas

and

Electric

Co.

2.50%

02/01/2031

268,407

300,000

Packaging

Corp.

of

America

3.00%

12/15/2029

271,827

60,000

Pactiv

Evergreen

Group

Issuer

LLC

4.38%

(a)

10/15/2028

56,154

80,000

Park

Intermediate

Holdings

LLC

4.88%

(a)

05/15/2029

74,139

135,000

Parker-Hannifin

Corp.

4.25%

09/15/2027

133,900

115,000

PennyMac

Financial

Services,

Inc.

7.88%

(a)

12/15/2029

118,542

278,000

Penske

Truck

Leasing

Co.

LP

4.20%

(a)

04/01/2027

268,909

65,000

Permian

Resources

Operating

LLC

7.00%

(a)

01/15/2032

67,107

270,000

Philip

Morris

International,

Inc.

5.13%

02/15/2030

274,585

115,000

Pike

Corp.

8.63%

(a)

01/31/2031

120,990

50,000

Post

Holdings,

Inc.

5.50%

(a)

12/15/2029

48,231

95,000

Qorvo,

Inc.

1.75%

12/15/2024

91,207

340,000

Quanta

Services,

Inc.

2.35%

01/15/2032

281,562

30,000

Realogy

Group

LLC

5.75%

(a)

01/15/2029

23,348

125,000

Realty

Income

Corp.

5.05%

01/13/2026

124,987

135,000

Regal

Rexnord

Corp.

6.05%

(a)

02/15/2026

136,523

80,000

Roller

Bearing

Co.

of

America,

Inc.

4.38%

(a)

10/15/2029

74,134

185,000

Royal

Caribbean

Cruises

Ltd.

7.25%

(a)

01/15/2030

193,326

130,000

Ryder

System,

Inc.

5.65%

03/01/2028

133,995

240,000

Sabine

Pass

Liquefaction

LLC

5.00%

03/15/2027

241,141

75,000

San

Diego

Gas

&

Electric

Co.

5.35%

04/01/2053

76,030

285,000

Santander

Holdings

USA,

Inc.

(SOFR

+

1.25%)

2.49%

01/06/2028

261,142

110,000

Scientific

Games

Holdings

LP

6.63%

(a)

03/01/2030

104,128

45,000

Scripps

Escrow

II,

Inc.

3.88%

(a)

01/15/2029

39,846

60,000

Sealed

Air

Corp.

7.25%

(a)

02/15/2031

63,693

150,000

Sirius

XM

Radio,

Inc.

5.50%

(a)

07/01/2029

145,187

45,000

Sitio

Royalties

Operating

Partnership

LP

7.88%

(a)

11/01/2028

46,668

506,000

Smithfield

Foods,

Inc.

4.25%

(a)

02/01/2027

484,974

290,000

Southern

Co.

(The)

(US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.92%)

3.75%

09/15/2051

264,772

|

December

31,

2023

13

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

100,000

Spirit

AeroSystems,

Inc.

9.75%

(a)

11/15/2030

107,622

30,000

SRS

Distribution,

Inc.

6.13%

(a)

07/01/2029

28,477

110,000

Standard

Industries,

Inc.

4.38%

(a)

07/15/2030

101,154

35,000

Staples,

Inc.

7.50%

(a)

04/15/2026

32,594

95,000

Suburban

Propane

Partners

LP

5.00%

(a)

06/01/2031

86,267

615,000

Synchrony

Financial

2.88%

10/28/2031

493,105

255,000

Sysco

Corp.

5.95%

04/01/2030

271,251

200,000

Tenet

Healthcare

Corp.

6.13%

06/15/2030

202,467

260,000

T-Mobile

USA,

Inc.

4.75%

02/01/2028

259,229

155,000

Townsquare

Media,

Inc.

6.88%

(a)

02/01/2026

151,983

85,000

TransDigm,

Inc.

5.50%

11/15/2027

83,348

78,750

Transocean

Poseidon

Ltd.

6.88%

(a)

02/01/2027

78,532

50,000

Transocean,

Inc.

8.00%

(a)

02/01/2027

48,801

135,000

Trident

TPI

Holdings,

Inc.

12.75%

(a)

12/31/2028

144,619

130,000

Truist

Financial

Corp.

(SOFR

+

1.44%)

4.87%

01/26/2029

128,159

50,000

United

Airlines,

Inc.

4.63%

(a)

04/15/2029

46,814

200,000

UnitedHealth

Group,

Inc.

5.05%

04/15/2053

202,226

50,000

UnitedHealth

Group,

Inc.

4.95%

05/15/2062

49,391

55,000

Univision

Communications,

Inc.

7.38%

(a)

06/30/2030

54,906

95,000

Venture

Global

LNG,

Inc.

8.13%

(a)

06/01/2028

96,027

35,000

Venture

Global

LNG,

Inc.

8.38%

(a)

06/01/2031

35,034

45,000

Venture

Global

LNG,

Inc.

9.88%

(a)

02/01/2032

46,902

265,000

Veralto

Corp.

5.35%

(a)

09/18/2028

271,401

105,000

Verscend

Escrow

Corp.

9.75%

(a)

08/15/2026

105,804

50,000

Victoria's

Secret

&

Co.

4.63%

(a)

07/15/2029

41,829

135,000

Viking

Cruises

Ltd.

5.88%

(a)

09/15/2027

130,393

195,000

Viking

Cruises

Ltd.

9.13%

(a)

07/15/2031

207,926

60,000

Vistra

Operations

Co.

LLC

7.75%

(a)

10/15/2031

62,360

50,000

VT

Topco,

Inc.

8.50%

(a)

08/15/2030

52,072

60,000

WASH

Multifamily

Acquisition,

Inc.

5.75%

(a)

04/15/2026

57,804

100,000

Weatherford

International

Ltd.

8.63%

(a)

04/30/2030

104,496

115,000

Wells

Fargo

&

Co.

(SOFR

+

1.98%)

4.81%

07/25/2028

114,215

320,000

Wells

Fargo

&

Co.

(SOFR

+

1.74%)

5.57%

07/25/2029

326,932

305,000

Welltower

OP

LLC

2.05%

01/15/2029

268,445

264,000

Willis

North

America,

Inc.

4.50%

09/15/2028

257,453

285,000

Workday,

Inc.

3.70%

04/01/2029

273,711

60,000

WR

Grace

Holdings

LLC

5.63%

(a)

08/15/2029

52,866

270,000

WRKCo,

Inc.

3.75%

03/15/2025

265,114

235,000

XHR

LP

4.88%

(a)

06/01/2029

216,583

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

140,000

XPO,

Inc.

7.13%

(a)

06/01/2031

145,077

Total

US

Corporate

Bonds

(Cost

$32,812,313)

33,727,439

US

GOVERNMENT

AND

AGENCY

MORTGAGE

BACKED

OBLIGATIONS

22.0%

FHLMC

REMICS

,

1,338,674

Series

5077-ME

2.00%

08/15/2048

1,115,006

FHLMC

STRIPS

,

2,081,226

Series

358-300

3.00%

10/15/2047

1,902,543

FHLMC

UMBS

,

1,378,230

Pool

RA7930

4.50%

09/01/2052

1,336,949

1,837,730

Pool

RA7939

5.00%

09/01/2052

1,821,175

2,867,011

Pool

SD2434

3.00%

08/01/2052

2,540,295

3,371,526

Pool

SD2969

2.50%

05/01/2052

2,912,500

325,893

Pool

SD3454

5.50%

08/01/2053

329,703

1,944,680

Pool

SD3574

3.00%

11/01/2048

1,765,246

1,652,506

Pool

SD3803

2.00%

02/01/2052

1,377,618

1,507,241

Pool

SD3892

5.50%

09/01/2053

1,519,611

FNMA

REMICS

,

1,151,897

Series

2017-112-ZC

3.00%

01/25/2048

935,979

1,431,591

Series

2018-53-Z

3.50%

07/25/2048

1,261,221

1,638,619

Series

2018-62-B

3.50%

09/25/2048

1,503,422

2,769,212

Series

2019-5-FE

(SOFR

30

Day

Average

+

0.56%,

0.45%

Floor,

6.50%

Cap)

5.90%

03/25/2049

2,704,330

FNMA

UMBS

,

2,158,769

Pool

BR2217

2.50%

08/01/2051

1,860,315

3,553,386

Pool

CA6032

2.50%

06/01/2050

3,075,449

1,860,242

Pool

CB4573

5.00%

09/01/2052

1,843,485

1,176,581

Pool

CB4820

4.50%

10/01/2052

1,141,340

699,340

Pool

CB6266

6.00%

05/01/2053

713,947

1,088,219

Pool

CB7272

6.00%

10/01/2053

1,112,078

1,963,588

Pool

FS1472

3.50%

11/01/2050

1,828,392

2,810,653

Pool

FS3708

5.00%

01/01/2053

2,784,956

2,111,390

Pool

FS4165

2.50%

04/01/2052

1,822,257

1,851,782

Pool

FS5420

2.50%

03/01/2052

1,592,395

1,944,291

Pool

FS5600

2.50%

06/01/2052

1,679,267

3,000,000

Pool

FS6517

2.50%

04/01/2052

2,588,531

2,723,721

Pool

MA4600

3.50%

05/01/2052

2,500,271

GNMA

,

1,231,610

Pool

785717

3.00%

11/20/2051

1,108,754

879,478

Pool

786227

3.00%

04/20/2052

791,808

1,302,117

Series

2013-116-WU

3.00%

12/20/2042

1,252,318

1,192,827

Series

2021-58-HP

3.00%

08/20/2050

1,059,346

1,108,719

Series

2022-23-BA

3.00%

05/20/2049

1,001,502

Total

US

Government

and

Agency

Mortgage

Backed

Obligations

(Cost

$51,793,841)

52,782,009

US

GOVERNMENT

AND

AGENCY

OBLIGATIONS

24.8%

26,700,000

U.S.

Treasury

Bonds

4.75%

11/15/2043

28,648,266

12,000,000

U.S.

Treasury

Bonds

4.75%

11/15/2053

13,459,687

16,750,000

U.S.

Treasury

Notes

4.50%

11/15/2033

17,590,117

Total

US

Government

and

Agency

Obligations

(Cost

$56,417,116)

59,698,070

SHORT

TERM

INVESTMENTS

2.5%

3,038,725

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

5.30%

(g)

3,038,725

14

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Opportunistic

Bond

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

3,038,725

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

5.27%

(g)

3,038,725

Total

Short

Term

Investments

(Cost

$6,077,450)

6,077,450

Total

Investments

101.3%

(Cost

$237,797,211)

243,591,390

Liabilities

in

Excess

of

Other

Assets

(1.3)%

(3,227,232)

NET

ASSETS

100.0%

$240,364,158

INVESTMENT

BREAKDOWN

as

a

%

of

Net

Assets:

US

Government

and

Agency

Obligations

24

.8

%

US

Government

and

Agency

Mortgage

Backed

Obligations

22

.0

Non-Agency

Residential

Collateralized

Mortgage

Obligations

10

.1

Asset

Backed

Obligations

8

.0

Non-Agency

Commercial

Mortgage

Backed

Obligations

5

.9

Collateralized

Loan

Obligations

3

.9

Banking

3

.6

Short

Term

Investments

2

.5

Electric

1

.7

Technology

1

.5

Midstream

1

.2

Healthcare

1

.0

Transportation

Services

0

.8

Food

and

Beverage

0

.7

Independent

0

.7

Metals

and

Mining

0

.6

Pharmaceuticals

0

.6

Cable

Satellite

0

.5

Government

Owned,

No

Guarantee

0

.5

Finance

Companies

0

.5

Building

Materials

0

.5

Consumer

Cyclical

Services

0

.4

Wireless

0

.4

Chemicals

0

.4

Software

0

.4

Diversified

Manufacturing

0

.4

Retailers

0

.4

Leisure

0

.4

Hotels,

Restaurants

&

Leisure

0

.4

Aerospace

&

Defense

0

.4

Media

Entertainment

0

.3

Automotive

0

.3

Life

0

.3

Oil

Field

Services

0

.3

Wirelines

0

.3

Health

Insurance

0

.2

Other

REITs

0

.2

Railroads

0

.2

P&C

0

.2

Paper

0

.2

Airlines

0

.2

Other

Industrial

0

.2

Local

Authority

0

.2

Specialty

Retail

0

.1

Health

Care

Equipment

&

Supplies

0

.1

Health

Care

Providers

&

Services

0

.1

Commercial

Services

&

Supplies

0

.1

INVESTMENT

BREAKDOWN

as

a

%

of

Net

Assets:

(Cont.)

Refining

0

.1

%

Consumer

Products

0

.1

Office

REITs

0

.1

Apartment

REITs

0

.1

Gaming

0

.1

Integrated

0

.1

Tobacco

0

.1

Lodging

0

.1

Healthcare

REITs

0

.1

Other

Utility

0

.1

Packaging

0

.1

Media

0

.1

Insurance

0

.1

Containers

&

Packaging

0

.1

Diversified

Consumer

Services

0

.1

Government

Sponsored

0

.1

Financial

Services

0

.1

Passenger

Airlines

0

.1

Restaurants

0

.1

Capital

Markets

0

.1

IT

Services

0

.1

Professional

Services

0

.1

Retail

REITs

0

.1

Distributors

0

.1

Entertainment

0

.1

Automobile

Components

0

.1

Oil,

Gas

&

Consumable

Fuels

0.0

(h)

Consumer

Finance

0.0

(h)

Construction

&

Engineering

0.0

(h)

Environmental

0.0

(h)

Household

Products

0.0

(h)

Diversified

Telecommunication

Services

0.0

(h)

Building

Products

0.0

(h)

Other

Assets

and

Liabilities

(

1

.3

)

100

.0

%

|

December

31,

2023

15

(Unaudited)

December

31,

2023

(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)

Step

bond;

coupon

rate

changes

based

on

a

predetermined

schedule

or

event.

The

interest

rate

shown

is

the

rate

in

effect

as

of

period

end.

(c)

Securities

referencing

LIBOR

are

expected

to

transition

to

an

alternative

reference

rate

by

the

security's

next

scheduled

coupon

reset

date.

(d)

Perpetual

maturity.

The

date

disclosed

is

the

next

call

date

of

the

security.

(e)

Coupon

rate

is

variable

or

floats

based

on

components

including

but

not

limited

to

reference

rate

and

spread.

These

securities

may

not

indicate

a

reference

rate

and/or

spread

in

their

description.

The

rate

disclosed

is

as

of

period

end.

(f)

Interest

only

security.

(g)

Seven-day

yield

as

of

period

end.

(h)

Represents

less

than

0.05%

of

net

assets.

Abbreviations:

FHLMC

Federal

Home

Loan

Mortgage

Corporation

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

LIBOR

London

Interbank

Offered

Rate

SOFR

Secured

Overnight

Financing

Rate

UMBS

Uniform

Mortgage

Backed

Securities

Schedules

of

Investments

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF

(Unaudited)

December

31,

2023

16

DoubleLine

ETF

Trust

SHARES

SECURITY

DESCRIPTION

VALUE

$

COMMON

STOCKS

99.6%

AUTOMOBILE

COMPONENTS

0.2%

6,518

Aptiv

plc

(a)

584,795

5,491

BorgWarner,

Inc.

196,852

781,647

AUTOMOBILES

5.1%

91,232

Ford

Motor

Co.

1,112,118

31,928

General

Motors

Co.

1,146,854

62,743

Tesla,

Inc.

(a)

15,590,380

17,849,352

BANKS

6.2%

114,999

Bank

of

America

Corp.

3,872,016

31,998

Citigroup,

Inc.

1,645,977

7,825

Citizens

Financial

Group,

Inc.

259,321

2,165

Comerica,

Inc.

120,829

11,446

Fifth

Third

Bancorp

394,773

24,187

Huntington

Bancshares,

Inc.

307,659

48,409

JPMorgan

Chase

&

Co.

8,234,371

15,703

KeyCorp

226,123

2,816

M&T

Bank

Corp.

386,017

6,680

PNC

Financial

Services

Group,

Inc.

(The)

1,034,398

15,501

Regions

Financial

Corp.

300,409

22,356

Truist

Financial

Corp.

825,384

26,058

US

Bancorp

1,127,790

60,696

Wells

Fargo

&

Co.

2,987,457

2,520

Zions

Bancorp

NA

110,552

21,833,076

BROADLINE

RETAIL

5.9%

130,954

Amazon.com,

Inc.

(a)

19,897,151

12,074

eBay,

Inc.

526,668

2,818

Etsy,

Inc.

(a)

228,399

20,652,218

CAPITAL

MARKETS

5.7%

1,701

Ameriprise

Financial,

Inc.

646,091

12,817

Bank

of

New

York

Mellon

Corp.

(The)

667,125

2,342

BlackRock,

Inc.

1,901,236

11,907

Blackstone,

Inc.

1,558,864

1,801

Cboe

Global

Markets,

Inc.

321,587

24,937

Charles

Schwab

Corp.

(The)

1,715,666

6,027

CME

Group,

Inc.

1,269,286

626

FactSet

Research

Systems,

Inc.

298,633

4,696

Franklin

Resources,

Inc.

139,894

5,507

Goldman

Sachs

Group,

Inc.

(The)

2,124,435

9,552

Intercontinental

Exchange,

Inc.

1,226,763

7,451

Invesco

Ltd.

132,926

621

MarketAxess

Holdings,

Inc.

181,860

2,625

Moody's

Corp.

1,025,220

21,141

Morgan

Stanley

1,971,398

1,324

MSCI,

Inc.

748,921

5,688

Nasdaq,

Inc.

330,700

3,500

Northern

Trust

Corp.

295,330

3,105

Raymond

James

Financial,

Inc.

346,207

5,451

S&P

Global,

Inc.

2,401,275

5,109

State

Street

Corp.

395,743

3,758

T

Rowe

Price

Group,

Inc.

404,699

20,103,859

CONSUMER

FINANCE

1.0%

9,617

American

Express

Co.

1,801,649

6,373

Capital

One

Financial

Corp.

835,628

4,130

Discover

Financial

Services

464,212

SHARES

SECURITY

DESCRIPTION

VALUE

$

6,891

Synchrony

Financial

263,167

3,364,656

DISTRIBUTORS

0.3%

3,241

Genuine

Parts

Co.

448,878

6,194

LKQ

Corp.

296,011

870

Pool

Corp.

346,878

1,091,767

DIVERSIFIED

REITS

0.3%

15,047

WP

Carey,

Inc.

975,196

DIVERSIFIED

TELECOMMUNICATION

SERVICES

2.1%

224,780

AT&T,

Inc.

3,771,808

99,471

Verizon

Communications,

Inc.

3,750,057

7,521,865

ENTERTAINMENT

5.4%

27,640

Electronic

Arts,

Inc.

3,781,428

16,627

Live

Nation

Entertainment,

Inc.

(a)

1,556,287

8,352

Netflix,

Inc.

(a)

4,066,422

18,574

Take-Two

Interactive

Software,

Inc.

(a)

2,989,485

40,878

Walt

Disney

Co.

(The)

(a)

3,690,875

260,867

Warner

Bros

Discovery,

Inc.

(a)

2,968,667

19,053,164

FINANCIAL

SERVICES

7.9%

30,437

Berkshire

Hathaway,

Inc.

-

Class

B

(a)

10,855,660

9,845

Fidelity

National

Information

Services,

Inc.

591,389

10,058

Fiserv,

Inc.

(a)

1,336,105

1,171

FleetCor

Technologies,

Inc.

(a)

330,936

4,372

Global

Payments,

Inc.

555,244

1,184

Jack

Henry

&

Associates,

Inc.

193,478

13,811

Mastercard,

Inc.

-

Class

A

5,890,530

17,987

PayPal

Holdings,

Inc.

(a)

1,104,582

26,675

Visa,

Inc.

-

Class

A

6,944,836

27,802,760

HEALTH

CARE

REITS

2.0%

26,228

Healthcare

Realty

Trust,

Inc.

-

Class

A

451,909

37,593

Healthpeak

Properties,

Inc.

744,341

41,307

Medical

Properties

Trust,

Inc.

202,817

16,858

Omega

Healthcare

Investors,

Inc.

516,866

16,409

Physicians

Realty

Trust

218,404

15,942

Sabra

Health

Care

REIT,

Inc.

227,492

27,721

Ventas,

Inc.

1,381,615

37,989

Welltower,

Inc.

3,425,468

7,168,912

HOTEL

&

RESORT

REITS

0.3%

48,308

Host

Hotels

&

Resorts,

Inc.

940,557

HOTELS,

RESTAURANTS

&

LEISURE

5.5%

10,105

Airbnb,

Inc.

-

Class

A

(a)

1,375,695

851

Booking

Holdings,

Inc.

(a)

3,018,684

4,984

Caesars

Entertainment,

Inc.

(a)

233,650

23,371

Carnival

Corp.

(a)

433,298

628

Chipotle

Mexican

Grill,

Inc.

(a)

1,436,211

2,836

Darden

Restaurants,

Inc.

465,955

854

Domino's

Pizza,

Inc.

352,044

3,127

Expedia

Group,

Inc.

(a)

474,647

5,951

Hilton

Worldwide

Holdings,

Inc.

1,083,618

8,595

Las

Vegas

Sands

Corp.

422,960

5,759

Marriott

International,

Inc.

-

Class

A

1,298,712

13,239

McDonald's

Corp.

3,925,496

6,355

MGM

Resorts

International

(a)

283,941

9,890

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

198,196

|

December

31,

2023

17

(Unaudited)

December

31,

2023

SHARES

SECURITY

DESCRIPTION

VALUE

$

5,427

Royal

Caribbean

Cruises

Ltd.

(a)

702,742

26,484

Starbucks

Corp.

2,542,729

2,204

Wynn

Resorts

Ltd.

200,806

6,484

Yum!

Brands,

Inc.

847,200

19,296,584

HOUSEHOLD

DURABLES

1.1%

7,027

DR

Horton,

Inc.

1,067,963

3,530

Garmin

Ltd.

453,746

5,778

Lennar

Corp.

-

Class

A

861,153

1,207

Mohawk

Industries,

Inc.

(a)

124,925

95

NVR,

Inc.

(a)

665,043

5,023

PulteGroup,

Inc.

518,474

1,254

Whirlpool

Corp.

152,700

3,844,004

INDUSTRIAL

REITS

3.3%

18,394

Americold

Realty

Trust,

Inc.

556,786

3,152

EastGroup

Properties,

Inc.

578,518

9,075

First

Industrial

Realty

Trust,

Inc.

477,980

20,107

LXP

Industrial

Trust

199,461

62,834

Prologis,

Inc.

8,375,772

14,525

Rexford

Industrial

Realty,

Inc.

814,853

12,471

STAG

Industrial,

Inc.

489,612

11,492,982

INSURANCE

3.9%

8,886

Aflac,

Inc.

733,095

4,401

Allstate

Corp.

(The)

616,052

11,781

American

International

Group,

Inc.

798,163

3,356

Aon

plc

-

Class

A

976,663

6,242

Arch

Capital

Group

Ltd.

(a)

463,593

3,595

Arthur

J

Gallagher

&

Co.

808,444

845

Assurant,

Inc.

142,374

3,945

Brown

&

Brown,

Inc.

280,529

6,782

Chubb

Ltd.

1,532,732

2,622

Cincinnati

Financial

Corp.

271,272

745

Everest

Group

Ltd.

263,417

1,466

Globe

Life,

Inc.

178,441

5,059

Hartford

Financial

Services

Group,

Inc.

(The)

406,642

3,089

Loews

Corp.

214,963

8,246

Marsh

&

McLennan

Cos.,

Inc.

1,562,370

10,416

MetLife,

Inc.

688,810

3,680

Principal

Financial

Group,

Inc.

289,506

9,763

Progressive

Corp.

(The)

1,555,051

6,061

Prudential

Financial,

Inc.

628,586

3,773

Travelers

Cos.,

Inc.

(The)

718,719

3,443

W

R

Berkley

Corp.

243,489

1,748

Willis

Towers

Watson

plc

421,618

13,794,529

INTERACTIVE

MEDIA

&

SERVICES

11.9%

77,522

Alphabet,

Inc.

-

Class

A

(a)

10,829,048

65,264

Alphabet,

Inc.

-

Class

C

(a)

9,197,656

31,653

Match

Group,

Inc.

(a)

1,155,334

58,337

Meta

Platforms,

Inc.

-

Class

A

(a)

20,648,965

41,831,003

LEISURE

PRODUCTS

0.1%

3,020

Hasbro,

Inc.

154,201

MEDIA

4.3%

10,356

Charter

Communications,

Inc.

-

Class

A

(a)

4,025,170

90,237

Comcast

Corp.

-

Class

A

3,956,892

28,985

Fox

Corp.

-

Class

A

859,985

15,464

Fox

Corp.

-

Class

B

427,580

45,103

Interpublic

Group

of

Cos.,

Inc.

(The)

1,472,162

SHARES

SECURITY

DESCRIPTION

VALUE

$

44,740

News

Corp.

-

Class

A

1,098,367

13,473

News

Corp.

-

Class

B

346,525

23,313

Omnicom

Group,

Inc.

2,016,808

56,868

Paramount

Global

-

Class

B

841,078

15,044,567

MORTGAGE

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

0.6%

46,161

AGNC

Investment

Corp.

452,839

34,461

Annaly

Capital

Management,

Inc.

667,510

11,853

Blackstone

Mortgage

Trust,

Inc.

-

Class

A

252,113

33,254

Rithm

Capital

Corp.

355,153

20,472

Starwood

Property

Trust,

Inc.

430,321

2,157,936

OFFICE

REITS

1.0%

10,779

Alexandria

Real

Estate

Equities,

Inc.

1,366,454

9,940

Boston

Properties,

Inc.

697,490

7,793

COPT

Defense

Properties

199,735

10,392

Cousins

Properties,

Inc.

253,045

11,477

Douglas

Emmett,

Inc.

166,416

6,027

JBG

SMITH

Properties

102,519

7,375

Kilroy

Realty

Corp.

293,820

1,012

NET

Lease

Office

Properties

18,702

10,995

Vornado

Realty

Trust

310,609

3,408,790

REAL

ESTATE

MANAGEMENT

&

DEVELOPMENT

1.8%

21,067

CBRE

Group,

Inc.

-

Class

A

(a)

1,961,127

28,079

CoStar

Group,

Inc.

(a)

2,453,824

2,216

Howard

Hughes

Holdings,

Inc.

(a)

189,579

3,277

Jones

Lang

LaSalle,

Inc.

(a)

618,927

39,208

Opendoor

Technologies,

Inc.

(a)

175,652

3,544

Zillow

Group,

Inc.

-

Class

A

(a)

201,015

11,013

Zillow

Group,

Inc.

-

Class

C

(a)

637,212

6,237,336

RESIDENTIAL

REITS

3.3%

21,934

American

Homes

4

Rent

-

Class

A

788,747

10,053

Apartment

Income

REIT

Corp.

-

Class

A

349,141

9,725

AvalonBay

Communities,

Inc.

1,820,714

7,351

Camden

Property

Trust

729,881

12,849

Equity

LifeStyle

Properties,

Inc.

906,368

23,761

Equity

Residential

1,453,223

4,442

Essex

Property

Trust,

Inc.

1,101,349

39,587

Invitation

Homes,

Inc.

1,350,313

8,055

Mid-America

Apartment

Communities,

Inc.

1,083,075

8,558

Sun

Communities,

Inc.

1,143,777

20,860

UDR,

Inc.

798,729

11,525,317

RETAIL

REITS

2.9%

6,899

Agree

Realty

Corp.

434,292

20,707

Brixmor

Property

Group,

Inc.

481,852

5,075

Federal

Realty

Investment

Trust

522,979

42,524

Kimco

Realty

Corp.

906,187

12,493

NNN

REIT,

Inc.

538,448

49,791

Realty

Income

Corp.

2,858,999

11,305

Regency

Centers

Corp.

757,435

22,396

Simon

Property

Group,

Inc.

3,194,565

9,744

Spirit

Realty

Capital,

Inc.

425,715

10,120,472

SPECIALIZED

REITS

9.6%

31,716

American

Tower

Corp.

6,846,850

29,990

Crown

Castle,

Inc.

3,454,548

15,442

CubeSmart

715,737

20,834

Digital

Realty

Trust,

Inc.

2,803,840

18

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF

(Cont.)

SHARES

SECURITY

DESCRIPTION

VALUE

$

5,465

Equinix,

Inc.

4,401,456

14,496

Extra

Space

Storage,

Inc.

2,324,144

18,338

Gaming

and

Leisure

Properties,

Inc.

904,980

20,021

Iron

Mountain,

Inc.

1,401,070

6,055

Lamar

Advertising

Co.

-

Class

A

643,526

5,330

National

Storage

Affiliates

Trust

221,035

5,416

PotlatchDeltic

Corp.

265,926

10,867

Public

Storage

3,314,435

9,432

Rayonier,

Inc.

315,123

7,493

SBA

Communications

Corp.

1,900,899

71,147

VICI

Properties,

Inc.

-

Class

A

2,268,166

50,203

Weyerhaeuser

Co.

1,745,558

33,527,293

SPECIALTY

RETAIL

5.4%

432

AutoZone,

Inc.

(a)

1,116,984

5,284

Bath

&

Body

Works,

Inc.

228,057

4,446

Best

Buy

Co.,

Inc.

348,033

3,658

CarMax,

Inc.

(a)

280,715

22,645

Home

Depot,

Inc.

(The)

7,847,625

13,379

Lowe's

Cos.,

Inc.

2,977,496

1,388

O'Reilly

Automotive,

Inc.

(a)

1,318,711

7,851

Ross

Stores,

Inc.

1,086,500

26,597

TJX

Cos.,

Inc.

(The)

2,495,065

2,474

Tractor

Supply

Co.

531,984

SHARES

SECURITY

DESCRIPTION

VALUE

$

1,183

Ulta

Beauty,

Inc.

(a)

579,658

18,810,828

TEXTILES,

APPAREL

&

LUXURY

GOODS

1.4%

2,682

Lululemon

Athletica,

Inc.

(a)

1,371,280

28,484

NIKE,

Inc.

-

Class

B

3,092,508

904

Ralph

Lauren

Corp.

130,357

5,319

Tapestry,

Inc.

195,792

7,754

VF

Corp.

145,775

4,935,712

WIRELESS

TELECOMMUNICATION

SERVICES

1.1%

24,305

T-Mobile

US,

Inc.

3,896,821

Total

Common

Stocks

(Cost

$331,785,297)

349,217,404

SHORT

TERM

INVESTMENTS

0.0%

(b)

59,243

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

5.30%

(c)

59,243

59,243

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

5.27%

(c)

59,243

Total

Short

Term

Investments

(Cost

$118,486)

118,486

Total

Investments

99.6%

(Cost

$331,903,783)

349,335,890

Other

Assets

in

Excess

of

Liabilities

0.4%

1,514,686

NET

ASSETS

100.0%

$350,850,576

(a)

Non-income

producing

security.

(b)

Represents

less

than

0.05%

of

net

assets.

(c)

Seven-day

yield

as

of

period

end.

Schedules

of

Investments

DoubleLine

Commercial

Real

Estate

ETF

(Unaudited)

December

31,

2023

|

December

31,

2023

19

P

RINCIPAL

A

MOUNT

$/S

HARES

S

ECURITY

D

ESCRIPTION

R

ATE

M

ATURITY

V

ALUE

$

ASSET

BACKED

OBLIGATIONS

6.3%

AREIT

Trust

,

465,085

Series

2021-CRE5-A

(CME

Term

SOFR

1

Month

+

1.19%,

1.08%

Floor)

6.55%

(a)

11/17/2038

457,961

BDS

,

1,159,353

Series

2021-FL8-A

(CME

Term

SOFR

1

Month

+

1.03%,

0.92%

Floor)

6.39%

(a)

01/18/2036

1,149,375

BXMT

Ltd.

,

745,608

Series

2020-FL2-A

(CME

Term

SOFR

1

Month

+

1.01%,

1.01%

Floor)

6.38%

(a)

02/15/2038

711,891

CLNC

Ltd.

,

550

Series

2019-FL1-A

(CME

Term

SOFR

1

Month

+

1.36%,

1.25%

Floor)

6.72%

(a)

08/20/2035

550

GPMT

Ltd.

,

327,598

Series

2021-FL3-A

(CME

Term

SOFR

1

Month

+

1.36%,

1.36%

Floor)

6.72%

(a)

07/16/2035

320,532

HERA

Commercial

Mortgage

Ltd.

,

519,642

Series

2021-FL1-A

(CME

Term

SOFR

1

Month

+

1.16%,

1.05%

Floor)

6.52%

(a)

02/18/2038

508,002

PFP

Ltd.

,

339,730

Series

2021-8-A

(CME

Term

SOFR

1

Month

+

1.11%,

1.00%

Floor)

6.48%

(a)

08/09/2037

335,242

500,000

Series

2023-10-A

(CME

Term

SOFR

1

Month

+

2.36%,

2.37%

Floor)

7.72%

(a)

09/16/2038

501,066

Ready

Capital

Mortgage

Financing

LLC

,

268,118

Series

2021-FL5-A

(CME

Term

SOFR

1

Month

+

1.11%,

1.00%

Floor)

6.47%

(a)

04/25/2038

266,493

587,943

Series

2021-FL7-A

(CME

Term

SOFR

1

Month

+

1.31%,

1.20%

Floor)

6.67%

(a)

11/25/2036

581,347

STWD

Ltd.

,

725,729

Series

2019-FL1-A

(CME

Term

SOFR

1

Month

+

1.19%,

1.19%

Floor)

6.56%

(a)

07/15/2038

710,950

1,000,000

Series

2019-FL1-AS

(CME

Term

SOFR

1

Month

+

1.51%,

1.51%

Floor)

6.88%

(a)

07/15/2038

960,309

Total

Asset

Backed

Obligations

(Cost

$6,469,745)

6,503,718

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

COLLATERALIZED

LOAN

OBLIGATIONS

15.3%

Arbor

Realty

Commercial

Real

Estate

Notes

Ltd.

,

1,120,000

Series

2021-FL2-A

(CME

Term

SOFR

1

Month

+

1.21%,

1.10%

Floor)

6.58%

(a)

05/15/2036

1,111,757

230,000

Series

2021-FL3-A

(CME

Term

SOFR

1

Month

+

1.18%,

1.18%

Floor)

6.55%

(a)

08/15/2034

226,560

BRSP

Ltd.

,

840,164

Series

2021-FL1-A

(CME

Term

SOFR

1

Month

+

1.26%,

1.15%

Floor)

6.62%

(a)

08/19/2038

818,350

BSPDF

Issuer

Ltd.

,

643,074

Series

2021-FL1-A

(CME

Term

SOFR

1

Month

+

1.31%,

1.20%

Floor)

6.68%

(a)

10/15/2036

633,451

BSPRT

Issuer

Ltd.

,

1,164,837

Series

2021-FL6-A

(CME

Term

SOFR

1

Month

+

1.21%,

1.10%

Floor)

6.58%

(a)

03/15/2036

1,146,289

CHCP

Ltd.

,

231,807

Series

2021-FL1-A

(CME

Term

SOFR

1

Month

+

1.16%,

1.05%

Floor)

6.52%

(a)

02/15/2038

229,458

FS

Rialto

,

483,235

Series

2021-FL2-A

(CME

Term

SOFR

1

Month

+

1.33%,

1.33%

Floor)

6.69%

(a)

05/16/2038

476,706

1,250,000

Series

2021-FL3-A

(CME

Term

SOFR

1

Month

+

1.36%,

1.36%

Floor)

6.72%

(a)

11/16/2036

1,232,875

FS

Rialto

Issuer

LLC

,

850,000

Series

2022-FL4-A

(SOFR

30

Day

Average

+

1.90%,

1.90%

Floor)

7.24%

(a)

01/19/2039

844,532

GPMT

Ltd.

,

1,000,000

Series

2021-FL4-A

(CME

Term

SOFR

1

Month

+

1.46%,

1.35%

Floor)

6.82%

(a)

12/15/2036

955,867

HGI

CRE

CLO

Ltd.

,

846,420

Series

2021-FL2-A

(CME

Term

SOFR

1

Month

+

1.11%,

1.11%

Floor)

6.47%

(a)

09/17/2036

828,478

KREF

Ltd.

,

540,000

Series

2021-FL2-A

(CME

Term

SOFR

1

Month

+

1.18%,

1.07%

Floor)

6.55%

(a)

02/15/2039

527,341

LCCM

Trust

,

859,000

Series

2021-FL3-A

(CME

Term

SOFR

1

Month

+

1.56%,

1.56%

Floor)

6.93%

(a)

11/15/2038

849,412

20

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Commercial

Real

Estate

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

LFT

CRE

Ltd.

,

1,250,000

Series

2021-FL1-A

(CME

Term

SOFR

1

Month

+

1.28%,

1.28%

Floor)

6.65%

(a)

06/15/2039

1,230,260

LoanCore

Issuer

Ltd.

,

676,960

Series

2021-CRE5-A

(CME

Term

SOFR

1

Month

+

1.41%,

1.41%

Floor)

6.78%

(a)

07/15/2036

666,921

1,000,000

Series

2021-CRE6-A

(CME

Term

SOFR

1

Month

+

1.41%,

1.30%

Floor)

6.78%

(a)

11/15/2038

981,409

MF1

Ltd.

,

1,206,161

Series

2021-FL6-A

(CME

Term

SOFR

1

Month

+

1.21%,

1.10%

Floor)

6.57%

(a)

07/16/2036

1,188,646

1,239,406

Series

2021-FL7-A

(CME

Term

SOFR

1

Month

+

1.19%,

1.08%

Floor)

6.55%

(a)

10/16/2036

1,223,590

TRTX

Issuer

Ltd.

,

750,000

Series

2022-FL5-A

(SOFR

30

Day

Average

+

1.65%,

1.65%

Floor)

6.99%

(a)

02/15/2039

730,427

Total

Collateralized

Loan

Obligations

(Cost

$15,798,754)

15,902,329

NON-AGENCY

COMMERCIAL

MORTGAGE

BACKED

OBLIGATIONS

52.5%

BAMLL

Commercial

Mortgage

Securities

Trust

,

650,000

Series

2018-DSNY-A

(CME

Term

SOFR

1

Month

+

1.15%,

1.10%

Floor)

6.51%

(a)

09/15/2034

646,896

500,000

Series

2019-RLJ-B

(CME

Term

SOFR

1

Month

+

1.40%,

1.35%

Floor)

6.76%

(a)

04/15/2036

496,874

BANK

,

389,870

Series

2019-BN22-A1

2.08%

11/15/2062

383,398

609,927

Series

2021-BN33-A1

0.61%

05/15/2064

573,639

650,000

Series

2021-BN36-A2

2.13%

09/15/2064

582,252

757,148

Series

2022-BNK39-A1

1.74%

02/15/2055

714,323

143,808

Series

2023-BNK45-A1

5.43%

02/15/2056

144,166

BANK5

,

102,255

Series

2023-5YR2-A1

6.20%

07/15/2056

103,905

22,298,899

Series

2023-5YR3-XA

0.79%

(b)(c)

09/15/2056

717,326

BBCMS

Mortgage

Trust

,

130,257

Series

2017-C1-ASB

3.49%

02/15/2050

126,782

360,435

Series

2023-C19-A1

5.70%

04/15/2056

360,537

989,390

Series

2023-C22-A1

6.36%

11/15/2056

1,021,476

Benchmark

Mortgage

Trust

,

12,948,944

Series

2019-B14-XA

0.77%

(b)(c)

12/15/2062

344,735

600,000

Series

2020-B19-A2

1.69%

09/15/2053

549,767

164,226

Series

2020-B21-A1

0.54%

12/17/2053

158,220

401,812

Series

2021-B28-A1

0.60%

08/15/2054

375,667

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

1,500,000

Series

2023-B40-A1

5.94%

12/15/2056

1,518,150

427,433

Series

2023-V2-A1

5.85%

05/15/2055

427,667

14,088,951

Series

2023-V2-XA

0.99%

(b)(c)

05/15/2055

519,052

BHP

Trust

,

899,230

Series

2019-BXHP-A

(CME

Term

SOFR

1

Month

+

1.02%,

0.98%

Floor)

6.38%

(a)

08/15/2036

894,886

BMARK

,

729,771

Series

2023-V4-A1

6.45%

11/15/2056

740,984

BMO

Mortgage

Trust

,

582,447

Series

2022-C1-A1

2.20%

02/15/2055

554,002

150,702

Series

2022-C3-A1

5.25%

(b)

09/15/2054

149,922

589,129

Series

2023-5C2-A1

6.80%

11/15/2056

601,640

1,682,000

Series

2023-C7-A1

5.90%

12/15/2056

1,690,439

BPR

Trust

,

1,000,000

Series

2021-KEN-A

(CME

Term

SOFR

1

Month

+

1.36%,

1.25%

Floor)

6.73%

(a)

02/15/2029

998,468

BX

Commercial

Mortgage

Trust

,

870,000

Series

2019-IMC-A

(CME

Term

SOFR

1

Month

+

1.05%,

1.00%

Floor)

6.41%

(a)

04/15/2034

864,515

671,978

Series

2019-XL-A

(CME

Term

SOFR

1

Month

+

1.03%,

0.92%

Floor)

6.40%

(a)

10/15/2036

670,444

500,924

Series

2020-VKNG-A

(CME

Term

SOFR

1

Month

+

1.04%,

0.93%

Floor)

6.41%

(a)

10/15/2037

497,307

600,000

Series

2021-ACNT-A

(CME

Term

SOFR

1

Month

+

0.96%,

0.85%

Floor)

6.33%

(a)

11/15/2038

592,119

1,250,000

Series

2021-CIP-A

(CME

Term

SOFR

1

Month

+

1.04%,

0.92%

Floor)

6.40%

(a)

12/15/2038

1,225,218

977,413

Series

2021-XL2-A

(CME

Term

SOFR

1

Month

+

0.80%,

0.69%

Floor)

6.16%

(a)

10/15/2038

959,968

Citigroup

Commercial

Mortgage

Trust

,

500,000

Series

2014-GC21-A5

3.86%

05/10/2047

497,405

750,000

Series

2015-GC27-A5

3.14%

02/10/2048

731,981

999,938

Series

2015-P1-A4

3.46%

09/15/2048

970,225

500,000

Series

2015-P1-A5

3.72%

09/15/2048

483,459

890,901

Series

2017-P7-A3

3.44%

04/14/2050

844,384

108,776

Series

2020-GC46-A1

1.85%

02/15/2053

107,008

Cold

Storage

Trust

,

1,228,738

Series

2020-ICE5-A

(CME

Term

SOFR

1

Month

+

1.01%,

0.90%

Floor)

6.37%

(a)

11/15/2037

1,223,629

Commercial

Mortgage

Trust

,

504,382

Series

2014-CR17-A4

3.70%

05/10/2047

501,309

520,000

Series

2014-CR18-AM

4.10%

07/15/2047

510,622

|

December

31,

2023

21

(Unaudited)

December

31,

2023

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

393,050

Series

2014-LC15-A4

4.01%

04/10/2047

392,265

355,000

Series

2014-UBS5-A4

3.84%

09/10/2047

348,210

1,250,000

Series

2015-CR25-A4

3.76%

08/10/2048

1,209,563

390,000

Series

2015-DC1-A5

3.35%

02/10/2048

378,167

320,000

Series

2015-LC21-A4

3.71%

07/10/2048

310,529

600,000

Series

2015-PC1-A5

3.90%

07/10/2050

583,466

1,000,000

Series

2016-COR1-A4

3.09%

10/10/2049

926,648

Credit

Suisse

Mortgage

Capital

Certificates

,

1,246,898

Series

2019-ICE4-B

(CME

Term

SOFR

1

Month

+

1.28%,

1.23%

Floor)

6.64%

(a)

05/15/2036

1,243,889

CSAIL

Commercial

Mortgage

Trust

,

1,031,473

Series

2015-C3-A3

3.45%

08/15/2048

1,007,611

106,099

Series

2020-C19-A1

1.30%

03/15/2053

102,491

Great

Wolf

Trust

,

1,250,000

Series

2019-WOLF-A

(CME

Term

SOFR

1

Month

+

1.15%,

1.03%

Floor)

6.71%

(a)

12/15/2036

1,245,788

GS

Mortgage

Securities

Trust

,

342,678

Series

2014-GC24-A4

3.67%

09/10/2047

337,429

200,000

Series

2015-GC28-B

3.98%

02/10/2048

189,245

1,000,000

Series

2015-GC34-A4

3.51%

10/10/2048

951,858

285,951

Series

2015-GC34-AAB

3.28%

10/10/2048

279,381

171,770

Series

2020-GC45-A1

2.02%

02/13/2053

169,459

Hilton

Orlando

Trust

,

750,000

Series

2018-ORL-B

(CME

Term

SOFR

1

Month

+

1.35%,

1.05%

Floor)

6.71%

(a)

12/15/2034

743,734

IMT

Trust

,

500,000

Series

2017-APTS-AFX

3.48%

(a)

06/15/2034

491,913

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

618,086

Series

2016-JP3-A4

2.63%

08/15/2049

581,799

JPMBB

Commercial

Mortgage

Securities

Trust

,

321,140

Series

2014-C18-A5

4.08%

02/15/2047

319,330

1,004,000

Series

2014-C21-A5

3.77%

08/15/2047

991,048

636,457

Series

2015-C30-A4

3.55%

07/15/2048

612,427

500,634

Series

2015-C31-A3

3.80%

08/15/2048

481,219

680,000

Series

2015-C32-A5

3.60%

11/15/2048

647,529

JPMCC

Commercial

Mortgage

Securities

Trust

,

380,671

Series

2017-JP5-A4

3.46%

03/15/2050

368,021

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

989,332

Series

2014-C17-A5

3.74%

08/15/2047

976,316

177,443

Series

2014-C18-A4

3.92%

10/15/2047

174,045

1,130,265

Series

2014-C19-A3

3.25%

12/15/2047

1,110,323

Morgan

Stanley

Capital

I

Trust

,

1,000,000

Series

2016-UBS9-A4

3.59%

03/15/2049

953,270

MSWF

Commercial

Mortgage

Trust

,

1,500,000

Series

2023-2-A1

5.96%

12/15/2056

1,508,156

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

Wells

Fargo

Commercial

Mortgage

Trust

,

750,000

Series

2014-LC16-A5

3.82%

08/15/2050

739,862

125,953

Series

2015-C27-A4

3.19%

02/15/2048

122,723

1,000,000

Series

2015-C27-A5

3.45%

02/15/2048

967,160

1,250,000

Series

2015-C30-A4

3.66%

09/15/2058

1,210,619

600,000

Series

2015-LC20-A3

3.09%

04/15/2050

586,128

1,000,000

Series

2015-LC22-A4

3.84%

09/15/2058

969,865

328,000

Series

2015-NXS3-AS

3.97%

(b)

09/15/2057

313,291

1,000,000

Series

2015-P2-A4

3.81%

12/15/2048

965,424

745,461

Series

2016-BNK1-A2

2.40%

08/15/2049

695,805

1,250,000

Series

2016-C34-A4

3.10%

06/15/2049

1,175,785

WFRBS

Commercial

Mortgage

Trust

,

170,349

Series

2013-C14-AS

3.49%

06/15/2046

156,325

500,000

Series

2014-C22-A5

3.75%

09/15/2057

488,359

392,736

Series

2014-C23-A4

3.65%

10/15/2057

387,724

Total

Non-Agency

Commercial

Mortgage

Backed

Obligations

(Cost

$53,971,368)

54,488,965

NON-AGENCY

RESIDENTIAL

COLLATERALIZED

MORTGAGE

OBLIGATIONS

3.2%

AREIT

Trust

,

867,253

Series

2022-CRE6-A

(SOFR

30

Day

Average

+

1.25%,

1.25%

Floor)

6.59%

(a)

01/20/2037

851,591

BXMT

Ltd.

,

746,376

Series

2020-FL3-A

(CME

Term

SOFR

1

Month

+

1.51%,

1.51%

Floor)

6.88%

(a)

11/15/2037

720,673

HIG

RCP

LLC

,

1,000,000

Series

2023-FL1-A

(CME

Term

SOFR

1

Month

+

2.27%,

2.27%

Floor)

7.63%

(a)

09/19/2038

999,326

LoanCore

Issuer

Ltd.

,

747,723

Series

2019-CRE2-B

(CME

Term

SOFR

1

Month

+

1.81%,

1.70%

Floor)

7.18%

(a)

05/15/2036

739,334

Total

Non-Agency

Residential

Collateralized

Mortgage

Obligations

(Cost

$3,305,072)

3,310,924

US

GOVERNMENT

AND

AGENCY

MORTGAGE

BACKED

OBLIGATIONS

17.5%

FHLMC

,

1,150,000

Pool

WN2424

5.10%

06/01/2028

1,165,737

FHLMC

Multifamily

Structured

Pass-Through

Certificates

,

350,000

Series

K068-A2

3.24%

08/25/2027

336,681

1,153,273

Series

K083-A1

3.94%

07/25/2028

1,138,738

1,720,000

Series

K509-A2

4.85%

09/25/2028

1,751,015

2,025,000

Series

K736-A2

2.28%

07/25/2026

1,925,463

2,297,316

Series

K751-A1

4.37%

03/25/2030

2,287,163

FNMA

,

1,810,000

Pool

AN1461

2.59%

05/01/2026

1,728,917

462,223

Pool

AN5468

3.22%

05/01/2027

444,840

442,154

Pool

AN7502

3.15%

11/01/2027

422,383

1,100,000

Pool

BL0240

3.54%

11/01/2025

1,075,009

690,000

Pool

BL0245

3.43%

11/01/2025

672,972

1,100,000

Pool

BS8040

5.14%

03/01/2028

1,118,398

22

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Commercial

Real

Estate

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

FNMA

ACES

,

4,285,073

Series

2022-M13-A1

2.59%

(b)

04/25/2032

4,032,288

Total

US

Government

and

Agency

Mortgage

Backed

Obligations

(Cost

$17,818,081)

18,099,604

SHORT

TERM

INVESTMENTS

4.9%

2,533,264

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

5.30%

(d)

2,533,264

2,533,264

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

5.27%

(d)

2,533,264

Total

Short

Term

Investments

(Cost

$5,066,528)

5,066,528

Total

Investments

99.7%

(Cost

$102,429,548)

103,372,068

Other

Assets

in

Excess

of

Liabilities

0.3%

330,691

NET

ASSETS

100.0%

$103,702,759

(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)

Coupon

rate

is

variable

or

floats

based

on

components

including

but

not

limited

to

reference

rate

and

spread.

These

securities

may

not

indicate

a

reference

rate

and/or

spread

in

their

description.

The

rate

disclosed

is

as

of

period

end.

(c)

Interest

only

security.

(d)

Seven-day

yield

as

of

period

end.

Abbreviations:

FHLMC

Federal

Home

Loan

Mortgage

Corporation

FNMA

Federal

National

Mortgage

Association

SOFR

Secured

Overnight

Financing

Rate

Schedules

of

Investments

DoubleLine

Mortgage

ETF

(Unaudited)

December

31,

2023

|

December

31,

2023

23

P

RINCIPAL

A

MOUNT

$/S

HARES

S

ECURITY

D

ESCRIPTION

R

ATE

M

ATURITY

V

ALUE

$

ASSET

BACKED

OBLIGATIONS

1.3%

AMSR

Trust

,

2,000,000

Series

2021-SFR1-A

1.95%

(a)

06/17/2038

1,732,573

1,000,000

Series

2023-SFR1-A

4.00%

(a)

04/17/2040

944,248

Total

Asset

Backed

Obligations

(Cost

$2,646,901)

2,676,821

NON-AGENCY

RESIDENTIAL

COLLATERALIZED

MORTGAGE

OBLIGATIONS

12.5%

Chase

Home

Lending

Mortgage

Trust

,

1,240,624

Series

2023-RPL1-A1

3.50%

(a)(b)

06/25/2062

1,124,894

CIM

Trust

,

923,096

Series

2023-R4-A1

5.00%

(a)(b)

05/25/2062

915,501

Connecticut

Avenue

Securities

Trust

,

944,709

Series

2023-R07-

2M1

(SOFR

30

Day

Average

+

1.95%)

7.29%

(a)

09/25/2043

953,891

CSMC

Trust

,

970,007

Series

2018-RPL9-A

3.85%

(a)(b)

09/25/2057

923,074

1,065,302

Series

2021-RPL3-A1

2.00%

(a)(b)

01/25/2060

916,046

1,070,755

Series

2022-RPL4-A1

3.90%

(a)(b)

04/25/2062

1,008,218

Deephaven

Residential

Mortgage

Trust

,

892,504

Series

2022-2-A1

4.30%

(a)(b)

03/25/2067

851,384

FHLMC

STACR

REMIC

Trust

,

713,354

Series

2021-HQA3-M1

(SOFR

30

Day

Average

+

0.85%)

6.19%

(a)

09/25/2041

706,459

1,000,000

Series

2022-DNA3-

M1B

(SOFR

30

Day

Average

+

2.90%)

8.24%

(a)

04/25/2042

1,028,785

FHLMC

Structured

Agency

Credit

Risk

Debt

Notes

,

1,736,131

Series

2023-HQA2-

M1A

(SOFR

30

Day

Average

+

2.00%)

7.34%

(a)

06/25/2043

1,751,909

Mill

City

Mortgage

Loan

Trust

,

1,301,581

Series

2018-3-A1

3.50%

(a)(b)

08/25/2058

1,262,649

OBX

Trust

,

1,500,000

Series

2023-NQM10-A1

6.46%

(a)(c)

10/25/2063

1,519,604

902,877

Series

2023-NQM3-A1

5.95%

(a)(c)

02/25/2063

903,850

1,855,152

Series

2023-NQM5-A1A

6.57%

(a)(c)

06/25/2063

1,874,887

Towd

Point

Mortgage

Trust

,

2,244,252

Series

2020-2-A1A

1.64%

(a)(b)

04/25/2060

1,995,292

2,023,720

Series

2022-1-A1

3.75%

(a)(b)

07/25/2062

1,898,170

Verus

Securitization

Trust

,

1,823,653

Series

2023-5-A1

6.48%

(a)(c)

06/25/2068

1,842,537

982,336

Series

2023-7-A1

7.07%

(a)(c)

10/25/2068

1,001,953

2,000,000

Series

2023-8-A1

6.26%

(a)(c)

12/25/2068

2,016,175

995,700

Series

2023-INV3-A1

6.88%

(a)(b)

11/25/2068

1,015,392

Total

Non-Agency

Residential

Collateralized

Mortgage

Obligations

(Cost

$25,219,128)

25,510,670

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

US

GOVERNMENT

AND

AGENCY

MORTGAGE

BACKED

OBLIGATIONS

82.7%

FHLMC

REMICS

,

2,199,826

Series

4631-GF

(SOFR

30

Day

Average

+

0.61%,

0.50%

Floor,

6.50%

Cap)

5.95%

11/15/2046

2,147,800

969,389

Series

4948-E

2.50%

10/25/2048

861,438

1,411,610

Series

5008-DI

3.00%

(d)

09/25/2050

196,398

3,400,427

Series

5077-ME

2.00%

08/15/2048

2,832,278

3,133,985

Series

5092-FK

(SOFR

30

Day

Average

+

0.70%,

0.70%

Floor,

4.00%

Cap)

4.00%

03/25/2051

2,329,369

3,122,789

Series

5189-BJ

2.50%

05/25/2048

2,747,947

1,880,877

Series

5202-AK

3.00%

10/25/2049

1,723,943

FHLMC

UMBS

,

4,811,710

Pool

RA3722

2.50%

10/01/2050

4,156,492

3,213,928

Pool

RA9431

5.50%

07/01/2053

3,251,502

4,316,920

Pool

RB5166

3.00%

07/01/2042

3,940,228

2,534,571

Pool

SD2912

5.00%

05/01/2053

2,521,448

4,891,087

Pool

SD2969

2.50%

05/01/2052

4,225,176

2,144,640

Pool

SD3139

3.50%

07/01/2052

1,968,497

4,241,799

Pool

SD3354

5.00%

06/01/2053

4,197,443

2,933,979

Pool

SD3592

5.50%

08/01/2053

2,958,057

2,932,109

Pool

SD3745

6.00%

09/01/2053

2,996,392

4,978,596

Pool

SD4270

2.00%

02/01/2052

4,143,542

4,974,810

Pool

SD4296

2.00%

02/01/2052

4,110,225

6,025,212

Pool

SD4400

2.00%

02/01/2051

5,018,011

3,069,146

Pool

SD8288

5.00%

01/01/2053

3,038,667

FNMA

REMICS

,

2,500,000

Series

2016-88-B

3.00%

12/25/2056

2,149,730

3,721,517

Series

2017-89-KZ

3.50%

08/25/2047

3,151,699

1,389,301

Series

2017-99-PY

4.00%

12/25/2047

1,292,608

5,545,000

Series

2020-57-LJ

2.00%

08/25/2050

4,019,031

2,253,253

Series

2021-10-CA

2.00%

03/25/2051

1,894,572

3,802,291

Series

2021-3-NI

2.50%

(d)

02/25/2051

557,076

2,227,229

Series

2021-88-LA

2.50%

03/25/2050

1,921,561

FNMA

UMBS

,

7,752,842

Pool

CA6032

2.50%

06/01/2050

6,710,071

3,307,688

Pool

CB6266

6.00%

05/01/2053

3,376,776

4,828,533

Pool

FM4752

2.50%

11/01/2050

4,178,548

2,241,052

Pool

FM8533

2.50%

03/01/2051

1,943,013

6,474,496

Pool

FS0984

3.00%

04/01/2052

5,800,981

4,113,577

Pool

FS2040

2.00%

02/01/2052

3,368,996

5,109,133

Pool

FS2141

3.50%

06/01/2052

4,689,984

5,799,800

Pool

FS4764

2.50%

02/01/2052

4,995,171

5,784,264

Pool

FS5600

2.50%

06/01/2052

4,995,820

2,923,109

Pool

FS5704

2.00%

04/01/2052

2,397,885

5,790,357

Pool

FS6476

2.50%

11/01/2051

4,994,590

4,973,792

Pool

FS6480

2.50%

11/01/2051

4,306,690

7,000,000

Pool

FS6517

2.50%

04/01/2052

6,039,905

3,920,721

Pool

MA3357

4.00%

05/01/2048

3,776,877

4,898,866

Pool

MA4492

2.00%

12/01/2051

4,012,148

1,452,619

Pool

MA4512

2.50%

01/01/2052

1,236,278

3,921,346

Pool

MA4733

4.50%

09/01/2052

3,803,894

481,571

Pool

MA5038

5.00%

06/01/2053

476,610

2,860,761

Pool

MA5039

5.50%

06/01/2053

2,873,444

FNMA/FHLMC

UMBS,

30

Year,

Single

Family

,

6,360,000

Pool

2.50%

(e)

01/25/2054

5,411,466

2,072,000

Pool

4.00%

(e)

01/25/2054

1,959,901

GNMA

,

2,984,213

Pool

786540

3.50%

02/20/2050

2,827,051

3,089,745

Pool

MA5076

3.00%

03/20/2048

2,829,822

24

DoubleLine

ETF

Trust

Schedules

of

Investments

DoubleLine

Mortgage

ETF

(Cont.)

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

1,026,926

Series

2016-116-DF

(CME

Term

SOFR

1

Month

+

0.51%,

0.40%

Floor,

6.50%

Cap)

5.87%

09/20/2046

999,250

2,590,201

Series

2016-99-TL

2.00%

04/16/2044

2,081,057

1,737,253

Series

2018-22-GZ

3.00%

02/20/2048

1,538,786

1,455,680

Series

2019-31-GF

(CME

Term

SOFR

1

Month

+

0.56%,

0.45%

Floor,

6.50%

Cap)

5.92%

03/20/2049

1,423,848

3,651,814

Series

2020-153-CI

2.50%

(d)

10/20/2050

492,798

3,109,369

Series

2020-17-IG

3.00%

(d)

02/20/2050

495,083

4,067,138

Series

2020-183-JI

2.50%

(d)

11/20/2050

549,813

2,224,757

Series

2021-142-

3.00%

(d)

08/20/2051

358,868

Total

US

Government

and

Agency

Mortgage

Backed

Obligations

(Cost

$164,629,383)

169,296,554

PRINCIPAL

AMOUNT

$/SHARES

SECURITY

DESCRIPTION

RATE

MATURITY

VALUE

$

SHORT

TERM

INVESTMENTS

7.7%

7,879,463

JPMorgan

U.S.

Government

Money

Market

Fund

-

Class

IM

5.30%

(f)

7,879,463

7,879,463

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio

-

Institutional

Share

Class

5.27%

(f)

7,879,463

Total

Short

Term

Investments

(Cost

$15,758,926)

15,758,926

Total

Investments

104.2%

(Cost

$208,254,338)

213,242,971

Liabilities

in

Excess

of

Other

Assets

(4.2)%

(8,626,741)

NET

ASSETS

100.0%

$204,616,230

(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)

Coupon

rate

is

variable

or

floats

based

on

components

including

but

not

limited

to

reference

rate

and

spread.

These

securities

may

not

indicate

a

reference

rate

and/or

spread

in

their

description.

The

rate

disclosed

is

as

of

period

end.

(c)

Step

bond;

coupon

rate

changes

based

on

a

predetermined

schedule

or

event.

The

interest

rate

shown

is

the

rate

in

effect

as

of

period

end.

(d)

Interest

only

security.

(e)

Represents

or

includes

a

TBA

transaction.

(f)

Seven-day

yield

as

of

period

end.

Abbreviations:

FHLMC

Federal

Home

Loan

Mortgage

Corporation

FNMA

Federal

National

Mortgage

Association

GNMA

Government

National

Mortgage

Association

SOFR

Secured

Overnight

Financing

Rate

UMBS

Uniform

Mortgage

Backed

Securities

Futures

Contracts

Description

Long/Short

Contract

Quantity

Expiration

Date

Notional

Amount

(1)

Unrealized

Appreciation

(Depreciation)

/

Value

U.S.

Treasury

Ultra

Bond

Long

38

3/19/24

$

5,076,563

$

241,479

U.S.

Treasury

2

Year

Note

Long

130

3/28/24

26,768,828

74,046

U.S.

Treasury

10

Year

Ultra

Bond

(Short)

(32)

3/19/24

(3,776,500)

(18,069)

$297,456

(1)

Notional

Amount

is

determined

based

on

the

number

of

contracts

multiplied

by

the

contract

size

and

the

quoted

daily

settlement

price

in

US

dollars.

|

December

31,

2023

25

Notes

to

Schedule

of

Investments

(Unaudited)

December

31,

2023

1. Organization

DoubleLine

ETF

Trust,

a

Delaware

statutory

trust

(the

“Trust”),

was

formed

on

September

27,

2021

and

is

registered

with

the

Securities

and

Exchange

Commission

as

an

open-end

management

investment

company.

As

of

December

31,

2023,

the

Trust

consists

of

four series,

DoubleLine

Opportunistic

Bond

ETF,

DoubleLine

Shiller

CAPE

®

U.S.

Equities

ETF,

DoubleLine

Commercial

Real

Estate

ETF

and

DoubleLine

Mortgage

ETF

(each

a

“Fund”

and

collectively

the

“Funds”).

Each

Fund

is

managed

by

DoubleLine

ETF

Adviser

LP

(the

"Adviser"),

which

is

registered

as

an

investment

adviser

with

the

U.S.

Securities

and

Exchange

Commission. Each

Fund

offers

one

class

of

shares.

The

Funds

are

classified

as

non-diversified

funds under

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”).

The

Funds'

investment

objectives

and

date

each

Fund

commenced

operations

are

as

follows:

The

fiscal

year

end

for

the

Funds

is

September

30,

and

the

period

covered

by

these

Financial

Statements

is

for

the

period ended December

31,

2023. 

2. Significant

Accounting

Policies 

Each

Fund

is

an

investment

company

that

applies

the

accounting

and

reporting

guidance

issued

in

Topic

946,

"Financial

Services

-Investment

Companies",

by

the

Financial

Accounting

Standards

Board

("FASB").

The

following

is

a

summary

of

the

significant

accounting

policies

of

the

Funds.

These

policies

are

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America

("US

GAAP"). 

A. Security

Valuation.

The

Funds

have

adopted

US

GAAP

fair

value

accounting

standards

which

establish

a

definition

of

fair

value

and

set

out

a

hierarchy

for

measuring

fair

value.

These

standards

require

additional

disclosures

about

the

various

inputs

and

valuation

techniques

used

to

develop

the

measurements

of

fair

value

and

a

discussion

of

changes

in

valuation

techniques

and

related

inputs

during

the

period.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below: 

Level

1—

Unadjusted

quoted

market

prices

in

active

markets

for

identical

securities

Level

2—

Quoted

prices

for

identical

or

similar

assets

in

markets

that

are

not

active,

or

inputs

derived

from

observable

market

data

Level

3—

Significant

unobservable

inputs

(including

the

reporting

entity’s

estimates

and

assumptions)

Valuations for

domestic

and

foreign

fixed

income

securities

are

normally

determined

on

the

basis

of

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. 

Fund

Name

Investment

Objective

Commencement

of

Operations

DoubleLine

Opportunistic

Bond

ETF

Maximize

current

income

and

total

return

3/31/2022

DoubleLine

Shiller

Cape

U.S.

Equities

ETF

Seek

total

return

which

exceeds

the

total

return

of

the

S&P

500

Index

3/31/2022

DoubleLine

Commercial

Real

Estate

ETF

Seek

current

income

and

capital

preservation

3/31/2023

DoubleLine

Mortgage

ETF

Seek

total

return

which

exceeds

the

total

return

of

its

benchmark

index

3/31/2023

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

Notes

to

Schedule

of

Investments

(Cont.)

26

DoubleLine

ETF

Trust

(Unaudited)

December

31,

2023

Investments

in

registered

open-end

management

investment

companies

will

be

valued

based

upon

the

net

asset

value

("NAV")

of

such

investments

and

are

categorized

as

Level

1

of

the

fair

value

hierarchy. 

Common

stocks,

exchange-traded

funds

and

financial

derivative

instruments,

such

as

futures

contracts

or

options

contracts,

that

are

traded

on

a

national

securities

or

commodities

exchange,

are

typically

valued

at

the

last

reported

sales

price,

in

the

case

of

common

stocks

and

exchange-traded

funds,

or,

in

the

case

of

futures

contracts

or

options

contracts,

the

settlement

price

determined

by

the

relevant

exchange.

To

the

extent

these

securities

are

actively

traded

and

valuation

adjustments

are

not

applied,

they

are

categorized

as

Level

1

of

the

fair

value

hierarchy. 

The

Funds'

holdings

in

whole

loans,

securitizations

and

certain

other

types

of

alternative

lending-related

instruments

may

be

valued

based

on

prices

provided

by

a

third-party

pricing

service.

Senior

secured

floating

rate

loans

for

which

an

active

secondary

market

exists

to

a

reliable

degree

will

be

valued

at

the

mean

of

the

last

available

bid/ask

prices

in

the

market

for

such

loans,

as

provided

by

an

independent

pricing

service.

Where

an

active

secondary

market

does

not

exist

to

a

reliable

degree

in

the

judgment

of

the

Adviser,

such

loans

will

be

valued

at

fair

value

based

on

certain

factors.

In

respect

of

certain

commercial

real

estate-related,

residential

real

estate-related

and

certain

other

investments

for

which

a

limited

market

may

exist,

the

Funds

may

value

such

investments

based

on

appraisals

conducted

by

an

independent

valuation

advisor

or

a

similar

pricing

agent.

However,

an

independent

valuation

firm

may

not

be

retained

to

undertake

an

evaluation

of

an

asset

unless

the

NAV,

market

price

and

other

aspects

of

an

investment

exceed

certain

significance

thresholds.

The

Board

of

Trustees

(the

“Board”)

has

adopted

a

pricing

and

valuation

policy

for

use

by each

Fund

and

its

Valuation

Designee

(as

defined

below)

in

calculating each

Fund’s

NAV.

Pursuant

to

Rule

2a-5

under

the

1940

Act, each

Fund

has

designated

the

Adviser

as

its

“Valuation

Designee”

to

perform

all

of

the

fair

value

determinations

as

well

as

to

perform

all

of

the

responsibilities

that

may

be

performed

by

the

Valuation

Designee

in

accordance

with

Rule

2a-5.

The

Valuation

Designee

is

authorized

to

make

all

necessary

determinations

of

the

fair

values

of

portfolio

securities

and

other

assets

for

which

market

quotations

are

not

readily

available

or

if

it

is

deemed

that

the

prices

obtained

from

brokers

and

dealers

or

independent

pricing

services

are

unreliable.

Residential

and

commercial

mortgage-backed

obligations;

asset-backed

obligations

(including

collateralized

loan

obligations)

Standard

inputs

and

cash

flows,

prepayment

information,

default

rates,

delinquency

and

loss

assumptions,

collateral

characteristics,

credit

enhancements

and

specific

deal

information,

trustee

reports

Bank

loans

Standard

inputs

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

to

value

the

Funds'

investments

as

of

December

31,

2023:

Category

DoubleLine

Opportunistic

Bond

ETF

DoubleLine

Shiller

CAPE®

U.S.

Equities

ETF

DoubleLine

Commercial

Real

Estate

ETF

DoubleLine

Mortgage

ETF

Investments

in

Securities

Level

1

Common

Stocks

$

—

$

349,217,404

$

—

$

—

Money

Market

Funds

6,077,450

118,486

5,066,528

15,758,926

Total

Level

1

6,077,450

349,335,890

5,066,528

15,758,926

Level

2

US

Government

and

Agency

Mortgage

Backed

Obligations

52,782,009

—

18,099,604

169,296,554

Non-Agency

Commercial

Mortgage

Backed

Obligations

14,048,617

—

54,488,965

—

US

Government

and

Agency

Obligations

59,698,070

—

—

—

Non-Agency

Residential

Collateralized

Mortgage

Obligations

24,326,953

—

3,310,924

25,510,670

US

Corporate

Bonds

33,727,439

—

—

—

Asset

Backed

Obligations

19,321,334

—

6,503,718

2,676,821

Collateralized

Loan

Obligations

9,327,816

—

15,902,329

—

Foreign

Corporate

Bonds

17,686,004

—

—

—

Notes

to

Schedule

of

Investments

(Cont.)

(Unaudited)

December

31,

2023

|

December

31,

2023

27

Category

(continued)

DoubleLine

Opportunistic

Bond

ETF

(continued)

DoubleLine

Shiller

CAPE®

U.S.

Equities

ETF

(continued)

DoubleLine

Commercial

Real

Estate

ETF

(continued)

DoubleLine

Mortgage

ETF

(continued)

Bank

Loans

6,595,698

—

—

—

Total

Level

2

237,513,940

—

98,305,540

197,484,045

Level

3

—

—

—

—

Total

$

243,591,390

$

349,335,890

$

103,372,068

$

213,242,971

Other

Financial

Instruments

Level

1

Futures

$

—

$

—

$

—

$

297,456

Total

Level

1

—

—

—

297,456

Level

2

—

—

—

—

Level

3

—

—

—

—

Total

$

—

$

—

$

—

$

297,456

See

the

Schedules

of

Investments

for

further

disaggregation

of

investment

categories.