Schedule 13G/A: 229,267 Units Held by Foundations Investment Advisors in DMX

Rhea-AI Filing Summary

Schedule 13G/A (Amendment No. 5) for DoubleLine ETF Trust (CUSIP 25861R600) discloses that Foundations Investment Advisors, LLC, an Arizona-based registered investment adviser, held 229,267 units of the referenced exchange-traded product as of 30 June 2025. The position represents 42.5 % of the outstanding class, making the filer a highly concentrated beneficial owner.

The adviser reports sole dispositive power over all 229,267 units but no voting power, indicating it can sell or transfer the securities on clients’ behalf yet does not exercise proxy voting rights. The filing is made pursuant to Rule 13d-1(b) as an institutional investment adviser and is signed by CCO Marc Pugsley on 28 July 2025.

Positive

• 229,267 units (42.5 % class ownership) by a registered investment adviser signals substantial institutional demand.
• Sole dispositive power provides flexibility for the adviser to manage liquidity on behalf of clients.

Negative

• No voting power suggests limited influence over ETF governance despite large holding.
• High concentration risk: a single adviser controls nearly half of outstanding units, posing potential redemption pressure.

Insights

Financial Analyst

TL;DR: Adviser controls 42.5 % of ETF units, boosting institutional ownership but lacks voting power.

The 13G reveals a sizable stake by Foundations Investment Advisors, signaling strong client allocation to DoubleLine’s product. A 42.5 % holding increases float concentration and may improve secondary-market liquidity. However, because the adviser disclaims voting authority, governance influence over the trust remains unchanged. Investors should watch subsequent amendments for stake reductions that could pressure prices.

Corporate Governance Expert

TL;DR: Large beneficial ownership without voting rights limits governance impact.

While the adviser’s dispositive control over nearly half the ETF’s shares is notable, the absence of voting power means board or policy decisions remain unaffected. The concentration risk is material; redemptions by this holder could trigger significant outflows. No group status or subsidiary involvement is disclosed, simplifying ownership structure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

DoubleLine ETF Trust

(Name of Issuer)

EXCHANGE TRADED PRODUCT

(Title of Class of Securities)

25861R600

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 25861R600

1

Names of Reporting Persons

FOUNDATIONS INVESTMENT ADVISORS, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ARIZONA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 229,267.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

229,267.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

42.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DoubleLine ETF Trust
(b)	Address of issuer's principal executive offices: 2002 NORTH TAMPA STREET, TAMPA, FLORIDA 33602
Item 2.
(a)	Name of person filing: FOUNDATIONS INVESTMENT ADVISORS, LLC
(b)	Address or principal business office or, if none, residence: 4050 E. COTTON CENTER BLVD. SUITE 40 PHOENIX, Arizona 85040
(c)	Citizenship: FOUNDATIONS INVESTMENT ADVISORS, LLC - ARIZONA
(d)	Title of class of securities: EXCHANGE TRADED PRODUCT
(e)	CUSIP No.: 25861R600
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 229,267
(b)	Percent of class: 42.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(ii) Shared power to vote or to direct the vote: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 229,267
	(iv) Shared power to dispose or to direct the disposition of: FOUNDATIONS INVESTMENT ADVISORS, LLC - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FOUNDATIONS INVESTMENT ADVISORS, LLC

Signature:	/s/Marc Pugsley
Name/Title:	CCO
Date:	07/28/2025

FAQ

How many DoubleLine ETF Trust units does Foundations Investment Advisors own?

The filing reports 229,267 units beneficially owned.

What percentage of the ETF's outstanding shares is held?

Foundations Investment Advisors owns 42.5 % of the class.

Does the adviser have voting power over these units?

No. It reports 0 units with sole or shared voting power.

What authority does the adviser hold?

It has sole dispositive power over all 229,267 units, meaning it can sell or transfer them.

Under which rule was this Schedule 13G/A filed?

The statement is filed under Rule 13d-1(b) for institutional investment advisers.

When is the event date and signature date of this filing?

Event date: 30 Jun 2025; signature date: 28 Jul 2025.