# DoubleLine Yield Opportunities Fund

DoubleLine Yield Opportunities Fund is an Asset Manager based in Tampa, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Tampa, United States
- **Region:** North America
- **Address:** Tampa, FL, United States
- **Founded:** 2020
- **Assets under management:** Undisclosed
- **Website:** doubleline.com

## Regulatory record

- **Reports private funds:** No

## About

DoubleLine Yield Opportunities Fund is an investment fund managed by DoubleLine, a registered investment advisor.

## Sectors

- Private Credit
- Secondaries & Special Situations
- Real Estate

## People

- Jeffrey Gundlach — Chief Executive Officer and Chief Investment Officer

## Questions

### Who runs the portfolio, and how involved is Jeffrey Gundlach?

Jeffrey Gundlach is the named portfolio manager of the DoubleLine Yield Opportunities Fund. As DoubleLine Capital's CEO and Chief Investment Officer, he is directly involved in top-down asset allocation and macro-level positioning for the fund. Day-to-day security selection is supported by DoubleLine's broader team of credit analysts and traders, but Gundlach's macro calls drive the fund's sector tilts.

### What asset classes does the fund actually hold in practice?

The fund's public filings show a heavy concentration in mortgage-backed securities — both agency and non-agency — alongside corporate credit instruments including high-yield bonds and floating-rate bank loans. Smaller allocations have historically appeared in collateralized loan obligations, emerging-market debt, and select equity positions. The precise mix shifts with Gundlach's macro views, but securitized credit has been the persistent anchor.

### How does the closed-end structure affect how the fund operates?

Unlike open-end mutual funds, DLY trades on the NYSE and does not redeem shares daily. This means Gundlach's team can buy illiquid or dislocated securities without worrying about forced selling if investors flee. The trade-off is that the fund's share price can trade at a premium or discount to its net asset value, introducing a second layer of return for investors who buy at wide discounts.

### What is the relationship between this fund and DoubleLine Capital?

DoubleLine Capital LP serves as the fund's investment adviser under a contract approved by DLY's independent board. The fund is a separate legal entity — a registered closed-end management investment company — that pays DoubleLine a management fee. Gundlach and DoubleLine's team manage DLY's portfolio alongside the firm's other strategies, but the fund's assets are legally segregated and governed by its own board.

### What is the fund's distribution policy and income objective?

DLY's stated objective is to seek high total return with an emphasis on current income. The fund has paid monthly distributions since inception, funded by portfolio income and, when necessary, capital gains or return of capital. As a regulated investment company, it must distribute substantially all taxable income to shareholders annually. The distribution rate fluctuates with portfolio yield and the fund's board reviews the policy regularly.

## Related profiles

- [Solowin Holdings](https://altss.com/profile/solowin-holdings-ltd)
- [Velocity Financial, Inc.](https://altss.com/profile/velocity-financial-inc)

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Last updated: 2026-06-03T20:00:00.000Z

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