DSL - DoubleLine Income Solutions Fund

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Oct 2, 2026

   The fund said it may sell new shares.

   Original document →

2. Sept 29, 2026

   The fund said it may sell new shares.

   Original document →

3. April 2, 2026

   The fund said it may sell new shares.

   Original document →

About this fund

• Run by DoubleLine Capital LP. Part of the DoubleLine fund family. As of Sept 30, 2025, from the fund's yearly report. Original document →
• Size: about $1.32 billion of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 24% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• The fund's own example of what borrowing does: in a year in which the holdings returned -10%, a share would return about -14.2%; at +10%, about +11.4%. As of Sept 30, 2025, from the fund's annual report. Original document →
• Costs: 1.3% a year in management fees; 3% a year in total, including interest on borrowed money. Fiscal year ended Sept 30, 2025. As of Sept 30, 2025, from the fund's yearly report. Original document →
  Among the 90 funds we follow that invest in bonds, 59 charge a lower management fee and 39 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• The fund's own cost example: $1,000 invested costs about $40 in the first year and about $337 over 10 years, assuming the holdings return 5% a year. As of Sept 30, 2025, from the fund's annual report. Original document →
• Payouts: last fiscal year (ended Sept 30, 2025) the fund paid $1.32 a share. $1.11 of that was income; $0.21 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Sept 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Sept 30, 2025): $12.44. The shares traded at $12.28, about 1.3% below that. As of Sept 30, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap (a "discount" when the price is below the value) ranged from 7.5% below to 2.5% above. As of Sept 30, 2025, from the fund's annual report. Original document →
• How the holdings did: up 5.2% over the last three months we have (April-June 2026), before the share price is taken into account. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2013.

How this has changed

• Payouts per share: $1.32 in the fiscal year ended Sept 30, 2025; $1.32 in the year ended Sept 30, 2024; $1.52 in the year ended Sept 30, 2023.As of Sept 30, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.21 in the year ended Sept 30, 2025; $0.12 in the year ended Sept 30, 2024; $0.08 in the year ended Sept 30, 2023.As of Sept 30, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 2.98% a year in the fiscal year ended Sept 30, 2025; 3.27% a year in the year ended Sept 30, 2024; 3.24% a year in the year ended Sept 30, 2023.As of Sept 30, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $1.42 billion at Sept 30, 2025; $1.41 billion at Sept 30, 2024; $1.19 billion at Sept 30, 2023. From the fund's quarterly holdings reports. Original documents: Sept 30, 2025 →, Sept 30, 2024 →, Sept 30, 2023 →.
• Borrowing: about 25% on top of its own money at Sept 30, 2025; 24% at Sept 30, 2024; 25% at Sept 30, 2023. From the fund's quarterly holdings reports. Original documents: Sept 30, 2025 →, Sept 30, 2024 →, Sept 30, 2023 →.
• The fund had about 115 million shares at Sept 30, 2025, up 11.7% from Sept 30, 2023.As of Sept 30, 2025, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Sept 30, 2025: the shares returned +5.2%, counting payouts; the holdings +8.1%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Sept 30, 2025, from the fund's annual report. Original document →
• The year ended Sept 30, 2024: the shares returned +23.3%, counting payouts; the holdings +22.9%. As of Sept 30, 2024, from the fund's annual report. Original document →
• The year ended Sept 30, 2023: the shares returned +23.4%, counting payouts; the holdings +8.9%. As of Sept 30, 2023, from the fund's annual report. Original document →
• The year ended Sept 30, 2022: the shares returned -31.5%, counting payouts; the holdings -26.4%. As of Sept 30, 2022, from the fund's annual report. Original document →
• The year ended Sept 30, 2021: the shares returned +20.2%, counting payouts; the holdings +22.3%. As of Sept 30, 2021, from the fund's annual report. Original document →
• Those five years together: the shares returned +31.7%. $10,000 of shares bought at the start (Oct 1, 2020) would have become about $13,200 by Sept 30, 2025, with every payout counted, before tax. As of Sept 30, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to June 30, 2026: +1.3%. The quarterly reports carry no share price, so this is the holdings alone. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Of the 58 funds that invest in bonds with a fiscal year ending within six months of this one, 37 reported a higher share return for that year and 20 a lower one. As of Sept 30, 2025, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly bonds (55%), the rest loans, asset-backed bonds and shares. About 60% issued in the U.S.

1. DoubleLine Funds Trust, DoubleLine Emerging Markets Local Currency Bond Fund - 3.5%
2. Cash and short-term - 2.4%
3. Smr 2022-IND Mortgage Trust, Smr 2022-INDI Hrr - 1.7%
4. Ecopetrol SA, Ecopet 5.875 11/02/51 - 1.5%
5. Brazil, Federative Republic of - Secretaria Do Tesouro Nacional, Brazil 4.75 01/14/50 - 1.5%
6. Orbia Advance Corp SAB de CV, Orbia 5.5 01/15/48 Regs - 1.5%
7. Simpar Europe SA, Simhbz 5.2 01/26/31 Regs - 1.3%
8. Vedanta Resources Finance II PLC, Vedln 9.125 10/15/32 144A - 1.3%
9. Vamos Europe SA, VAMOBZ 9.2 01/26/31 144a - 1.2%
10. United Mexican States - Secretaria de Hacienda Y Credito Publico, Mex 3.771 05/24/61 - 1.2%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →