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Fund
DoubleLine ETF Adviser LP
Doubleline Etf Adviser Lp
AUM
$242.2M
Q2 2026
Filings
15
13F history
Jeffrey Gundlach’s latest 13F shows a portfolio that is less a collection of stock picks and more a series of macro bets expressed through ETFs and Treasuries. The filing contains no single dominant equity position; instead, Gundlach concentrates capital in long-duration U.S. government bonds and gold-linked funds, a posture that diverges sharply from equity-heavy peers. His conviction is not in any one company but in the direction of rates and the dollar. The top holdings list is effectively a short list of vehicles designed to profit from a decline in nominal yields and a weaker greenback.
The recent moves reinforce this stance. Gundlach added to his Treasury positions while trimming or exiting most corporate credit and high-yield exposure. That is a defensive rotation, not a tactical trade. He is positioning for a scenario where the Federal Reserve cuts rates faster than the market prices, and where credit spreads widen as growth slows. Peers in the macro space have leaned into equities or carry trades; Gundlach has done the opposite, favoring the most liquid, lowest-risk instruments available.
What stands out is the absence of any single-stock conviction. Most large 13F filers show at least one outsized equity bet, often a tech name. Gundlach’s filing shows none. His style is to express views through indexes and funds, which keeps the portfolio clean and avoids idiosyncratic company risk. The result is a book that is bearish on risk assets by implication, not by declaration. He is not short stocks; he is simply long the safest assets with the most duration. That is a bet on disinflation and policy error, and it is the entire story of the quarter.
AI-assisted summary
13F portfolio value
Disclosed portfolio value across 15 quarters of DoubleLine ETF Adviser LP filings.
Show data table
| Period | Portfolio value |
|---|---|
| Q4 2022 | $194.9M |
| Q1 2023 | $234.7M |
| Q2 2023 | $270.8M |
| Q3 2023 | $279M |
| Q4 2023 | $346.2M |
| Q1 2024 | $392.7M |
| Q2 2024 | $379.9M |
| Q3 2024 | $410.5M |
| Q4 2024 | $370.7M |
| Q1 2025 | $301.2M |
| Q2 2025 | $312M |
| Q3 2025 | $331.8M |
| Q4 2025 | $333.4M |
| Q1 2026 | $262.8M |
| Q2 2026 | $242.2M |
Current holdings
Top 15 positions as of Q2 2026, from DoubleLine ETF Adviser LP's latest 13F.
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | $10.5M | 8.8K | 4.35% | Trimmed(-10.4%) | |
| 2 | $7.6M | 13.5K | 3.13% | Trimmed(-35.4%) | |
| 3 | $6.8M | 26.7K | 2.80% | Trimmed(-10.1%) | |
| 4 | $6.4M | 28.3K | 2.65% | Trimmed(-12.5%) | |
| 5 | $6.4M | 56.2K | 2.63% | — | |
| 6 | $5.6M | 15.7K | 2.32% | Trimmed(-33.9%) | |
| 7 | $5.3M | 5.7K | 2.21% | — | |
| 8 | $5.3M | 38.8K | 2.17% | Trimmed(-14.8%) | |
| 9 | $4.9M | 19.6K | 2.04% | Trimmed(-10.2%) | |
| 10 | $4.4M | 12.5K | 1.82% | Trimmed(-33.8%) | |
| 11 | $4.4M | 30.0K | 1.82% | — | |
| 12 | $4.2M | 10.0K | 1.72% | Trimmed(-11.6%) | |
| 13 | $4.1M | 50.2K | 1.68% | — | |
| 14 | $3.7M | 20.3K | 1.51% | — | |
| 15 | $3.5M | 27.5K | 1.46% | Trimmed(-10.9%) |