Opportunistic Credit Fund – Statistics

Portfolio Holdings

Fund details as of August 31, 2020
Ticker Symbol DBL
Monthly Distribution1 $0.110
Distribution Frequency Monthly
NAV $19.33
Net Assets $289,116,203


Sector Breakdown
Cash 2.13%
Line of Credit -22.14%
Agency Inverse Floaters 5.66%
Agency Inverse Interest Only/Interest Only 15.54%
Agency CMBS 0.26%
Agency CMO 3.54%
Non-Agency Residential MBS 29.22%
Government 4.15%
Collateralized Loan Obligations 32.33%
Commercial MBS 18.97%
Asset-Backed Securities 2.66%
Emerging Markets Fixed Income 0.64%
Bank Loan 7.04%
Total 100.0%

Figures shown represent the net assets invested in a particular asset class as a percentage of total net assets.

Portfolio Characteristics
Average Market Price2 $104.84
Weighted Average Life 5.39
Duration 0.37
Leverage from Borrowing3 17.24%


Weighted Average Life Breakdown
Cash 2.13%
Reverse Repo -22.14%
0 to 3 years 16.55%
3 to 5 years 38.82%
5 to 10 years 62.42%
10 to 15 years 2.21%
15+ years 0.00%
Total 100.00%


Duration Breakdown
Cash 2.13%
Reverse Repo -22.14%
Less than 0 38.79%
0 to 3 years 35.96%
3 to 5 years 25.18%
5 to 10 years 16.04%
10 to 15 years 3.88%
15+ years 0.16%
Total 100.00%


Current Quality Credit Distribution4
Cash 2.13%
Reverse Repo -22.14%
Government 4.15%
Agency 24.74%
Investment Grade 30.85%
Below Investment Grade 40.65%
Unrated Securities 19.62%
Total 100.0%


Past performance does not guarantee future results.

1. Distributions include all distribution payments regardless of source and may include net income, capital gains, and/or return of capital (ROC). ROC should not be confused with yield or income. A Fund’s Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting Final determination of a distribution’s tax character will be made on Form 1099 DIV and sent to shareholders. On a tax basis, the estimated component of the cumulative distribution for the fiscal year to date would include an estimated return of capital of $0.000 (0%) per share. This amount is an estimate and the actual amounts and sources for tax reporting purposes may change upon final determination of tax characteristics and may be subject to changes based on tax regulations. We anticipate the month-end distribution’s ROC will be similar to this amount.

2. Market price – The weighted average of the prices of the Fund’s portfolio holdings.  While a component of the fund’s Net Asset Value, it should not be confused with the Fund’s NAV.

3. Leverage is based on a percentage of short-term borrowing in relation to the long-term investments of the Fund.

4. Credit Distribution is determined from the highest available credit rating from any Nationally Recognized Statistical Rating Agency (NRSRO”, generally S&P, Moody’s, or Fitch) and is subject to change. DoubleLine chooses to display credit ratings using S&P’s rating convention, although the rating itself might be sourced from another NRSRO. The firm evaluates a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. The ratings apply to the credit worthiness of the issuers of the underlying securities and not to the fund itself. Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. In limited situations when the rating agency has not issued a formal rating, the rating agency will classify the security as unrated.

Sector Allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security. Portfolio holdings generally are made available fifteen days after month-end by calling (877) DLine11. The source for the information in this report is DoubleLine Capital, which maintains its data on a trade date basis.

©2020 DoubleLine

Investing involves risk. Principal loss is possible. Investments in debt securities typically decline in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a greater risk of loss to principal and interest than higher rated securities. Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. The Fund is a “non-diversified” investment company and therefore may invest a greater percentage of its assets in the securities of a single issuer or a limited number of issuers than funds that are “diversified.” Accordingly, the Fund is more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified fund might be. In addition, the Fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives and smaller companies which include additional risks.

The Fund's investment objectives, risks, charges and other expenses must be considered carefully before investing. You can obtain the Fund's most recent periodic reports and certain other regulatory filings by calling 1(877)354-6311 / 1(877)DLINE11, or clicking here. You should read these reports and other filings carefully before investing.

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