DoubleLine Low Duration Bond Fund;N
DLSNX
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- DoubleLine Low Duration Bond Fund Class N (DLSNX) is a mutual fund managed by DoubleLine Capital LP that seeks current income through investments primarily in low duration fixed income securities; its portfolio includes U.S. Government obligations, Agency Mortgage-Backed Securities (RMBS and CMBS), Non-Agency RMBS and CMBS, Investment Grade and below Investment Grade Corporate Credits, Collateralized Loan Obligations, Asset-Backed Securities, Bank Loans, International Fixed Income, and Emerging Markets Fixed Income. The Fund emphasizes active asset allocation across sectors such as Government (27.24%), Non-Agency RMBS (14.92%), Investment Grade Corporates (13.95%), Non-Agency CMBS (13.78%), and Collateralized Loan Obligations (11.54%), with a weighted average duration of 1.58 years, weighted average life of 2.60 years, and a credit quality breakdown featuring 27.48% Government, 63.96% Investment Grade, and limited exposure to Below Investment Grade (2.12%) and unrated securities (1.70%). It targets investors seeking high current income with limited interest-rate sensitivity in the short-term bond category, with total net assets of approximately $6.28 billion and a net expense ratio of 0.70%; minimum initial investment is $2,000 ($500 for IRAs), and it is available for sale in the United States. Launched on September 30, 2011, with Class N shares, the Fund is part of DoubleLine Funds Trust and domiciled in the United States; DoubleLine Capital LP, the investment adviser founded in 2009 and headquartered in Tampa, Florida (relocated from Los Angeles in February 2022), manages the Fund through its Fixed Income Asset Allocation Committee and sector specialist teams, with key portfolio managers including Jeffrey Gundlach (CEO and CIO since inception), Jeffrey Sherman, Robert Cohen (since 2016), and Luz Padilla (since 2011). Recent portfolio characteristics as of October 2025 reflect ongoing active management with 818 issues held, an ending market value of $6.36 billion, and top holdings concentrated in U.S. Treasury Notes (e.g., T 0 5/8 03/31/27 at 5.38%, T 0 1/2 06/30/27 at 4.99%); the Fund reported YTD returns of 4.71% for Class N (as of October 31, 2025), outperforming its primary benchmark ICE BofA 1-3 Year U.S. Treasury Index (4.28%). DoubleLine Capital has maintained stable operations without major publicized acquisitions, partnerships, funding rounds, or strategic shifts specific to DLSNX in the last 1-2 years, though the firm continues to distribute related share classes like Class I (DBLSX, inception 2011) and Class R6 (DDLDX, inception July 31, 2019) through Quasar Distributors, LLC, focusing on risk-adjusted returns amid elevated interest rates.