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JG

Jeffrey Gundlach

CEO

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
PeriodPortfolio 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.

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L

ELI LILLY & CO

-10.4%
Value
$10.5M
Shares
8.8K
% Port
4.35%
M

META PLATFORMS INC

-35.4%
Value
$7.6M
Shares
13.5K
% Port
3.13%
J

JOHNSON & JOHNSON

-10.1%
Value
$6.8M
Shares
26.7K
% Port
2.80%
W

WELLTOWER INC

-12.5%
Value
$6.4M
Shares
28.3K
% Port
2.65%
W

WALMART INC

Value
$6.4M
Shares
56.2K
% Port
2.63%
G

ALPHABET INC

-33.9%
Value
$5.6M
Shares
15.7K
% Port
2.32%
C

COSTCO WHOLESALE CORPORATION

Value
$5.3M
Shares
5.7K
% Port
2.21%
P

PROLOGIS INC.

-14.8%
Value
$5.3M
Shares
38.8K
% Port
2.17%
A

ABBVIE INC

-10.2%
Value
$4.9M
Shares
19.6K
% Port
2.04%
G

ALPHABET INC

-33.8%
Value
$4.4M
Shares
12.5K
% Port
1.82%
P

PROCTER & GAMBLE CO

Value
$4.4M
Shares
30.0K
% Port
1.82%
U

UNITEDHEALTH GROUP INC

-11.6%
Value
$4.2M
Shares
10.0K
% Port
1.72%
K

COCA COLA CO

Value
$4.1M
Shares
50.2K
% Port
1.68%
P

PHILIP MORRIS INTL INC

Value
$3.7M
Shares
20.3K
% Port
1.51%
M

MERCK & CO INC

-10.9%
Value
$3.5M
Shares
27.5K
% Port
1.46%

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