# EDGAR Filing Document

**Accession Number:** 0001420040
**File Stem:** 0000910472-25-005972
**Filing Date:** 2025-12
**Character Count:** 17283
**Document Hash:** f485228dd9bc79d1c3af73a053549c43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005972.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-005972

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dunham Funds
- **CENTRAL INDEX KEY:** 0001420040

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22153
- **FILM NUMBER:** 251604012

**BUSINESS ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-964-0500

**MAIL ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122

## Series and Classes Contracts Data

### Dunham Real Estate Stock Fund (Series ID: S000020971)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000059508 | Dunham Real Estate Stock Fund Class A | DAREX           |
| C000059509 | Dunham Real Estate Stock Fund Class C | DCREX           |
| C000059510 | Dunham Real Estate Stock Fund Class N | DNREX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Dunham Funds

- **b. Investment Company Act file number:** 811-22153

- **c. CIK number of Registrant:** 0001420040

- **d. LEI of Registrant:** 549300FI2C3SP4YCHL80

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 6256 Greenwich Dr

  - **City:** SAN DIEGO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92122

  - **Telephone number:** 858-964-0500

**Item A.2. Information about the Series.**

- **a. Name of Series:** Dunham Real Estate Stock Fund

- **b. EDGAR series identifier (if any):** S000020971

- **c. LEI of Series:** 549300NHRSYVLPC3PQ36

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $55889572.64

**Total Liabilities:** $97268.89

**Net Assets:** $55792303.75

**Cash Not Reported:** $0.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000059510 | 0.59%                | -1.39%               | -1.41%               |
| Class ID C000059508 | 0.59%                | -1.46%               | -1.40%               |
| Class ID C000059509 | 0.49%                | -1.46%               | -1.48%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $28862.58                | $289524.29                                 |
| Month 2  | $-2165309.44             | $1229182.48                                |
| Month 3  | $3040298.46              | $-3821007.09                               |

### Schedule of Portfolio Investments

| Name                                    | Title                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Scentre Group Ltd.                      | Scentre Group                        | CUSIP: Q8351E109<br>LEI: 529900TUCASM3W86E831 | Long             | EC               | CORP              | AU        |    305000 | NS      | $812295.51    | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Unibail-Rodamco-Westfield SE            | UNIBAIL-RODAMCO-                     | CUSIP: F95094581<br>LEI: 969500SHQITWXSIS7N89 | Long             | EC               | CORP              | FR        |     13416 | NS      | $1386294.22   | 2.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc.                           | PROLOGIS INC                         | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     30087 | NS      | $3733495.83   | 6.69%             |  |  |  | No            | 1                  | On Loan: —       |
| Veris Residential Inc                   | VERIS RESIDENTIA                     | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |     75905 | NS      | $1089995.80   | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| NETSTREIT Corp.                         | NETSTREIT CORP                       | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     83007 | NS      | $1545590.34   | 2.77%             |  |  |  | No            | 1                  | On Loan: —       |
| Fidelity Colchester Street Trust        | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |     77431 | PA      | $77430.79     | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsui Fudosan Accommodations Fund Inc. | MITSUI FUDOSAN A                     | CUSIP: J52066107<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2000 | NS      | $1684543.86   | 3.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group Inc                | SIMON PROPERTY                       | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     12865 | NS      | $2261152.40   | 4.05%             |  |  |  | No            | 1                  | On Loan: No      |
| EPR Properties                          | EPR PROPERTIES                       | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      3195 | NS      | $156618.90    | 0.28%             |  |  |  | No            | 1                  | On Loan: —       |
| Digital Realty Trust Inc.               | DIGITAL REALTY                       | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     14983 | NS      | $2553253.03   | 4.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Curbline Properties Corp.               | CURBLINE PROPERT                     | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |     54774 | NS      | $1263088.44   | 2.26%             |  |  |  | No            | 1                  | On Loan: —       |
| National Storage REIT                   | NATIONAL STORAGE                     | CUSIP: Q6605D109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    275000 | NS      | $413885.62    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| CubeSmart (Maryland)                    | CUBESMART                            | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35662 | NS      | $1343387.54   | 2.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Londonmetric Property PLC               | LONDONMETRIC PRO                     | CUSIP: G5689W109<br>LEI: 213800OCERWWPQDURL87 | Long             | EC               | CORP              | GB        |    390462 | NS      | $975603.59    | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimco Realty Corporation                | KIMCO REALTY                         | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     95172 | NS      | $1966253.52   | 3.52%             |  |  |  | No            | 1                  | On Loan: —       |
| N/A                                     | MOUNT VERNON LIQUID ASSETS PORTFOLIO | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Essential Properties Realty Trust Inc.  | ESSENTIAL PROPER                     | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     33151 | NS      | $990551.88    | 1.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Tritax Big Box REIT PLC                 | TRITAX BIG BOX R                     | CUSIP: G9101W101<br>LEI: 213800L6X88MIYPVR714 | Long             | EC               | CORP              | GB        |    505807 | NS      | $997354.69    | 1.79%             |  |  |  | No            | 1                  | On Loan: No      |
| National Health Investors, Inc.         | NATL HEALTH INV                      | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |      8897 | NS      | $662915.47    | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Chartwell Retirement Residences         | CHARTWELL RETIRE                     | CUSIP: 16141A103<br>LEI: 549300M7UBEIZBWP4069 | Long             | EC               | CORP              | CA        |     41385 | NS      | $609909.06    | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Nippon Building Fund Inc.               | Nippon Building Fund Inc             | CUSIP: J52088101<br>LEI: 52990053R8NL2MB32172 | Long             | EC               | CORP              | JP        |      1400 | NS      | $1291829.70   | 2.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Independence Realty Trust Inc           | INDEPENDENCE REA                     | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     82055 | NS      | $1307136.15   | 2.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Merlin Properties Socimi SA             | Merlin Properties Socimi             | CUSIP: E7390Z100<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |     71227 | NS      | $1109252.76   | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Link Real Estate Investment Trust       | LINK REIT                            | CUSIP: Y5281M111<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |     75100 | NS      | $391220.33    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Stockland Corp Ltd.                     | STOCKLAND                            | CUSIP: Q8773B105<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    100000 | NS      | $412904.07    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| SmartStop Self Storage REIT Inc         | SMARTSTOP SELF S                     | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     28605 | NS      | $982581.75    | 1.76%             |  |  |  | No            | 1                  | On Loan: —       |
| Iron Mountain Inc.                      | IRON MOUNTAIN                        | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     22089 | NS      | $2274062.55   | 4.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Excellent Inc                     | JAPAN EXCELLENT                      | CUSIP: J2739K109<br>LEI: 35380015J62221TE0D86 | Long             | EC               | CORP              | JP        |       500 | NS      | $477265.80    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| CapitaLand Integrated Commercial Trust  | CAPITALAND MALL                      | CUSIP: Y0259J109<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |    643600 | NS      | $1171844.97   | 2.10%             |  |  |  | No            | 1                  | On Loan: No      |
| National Storage Affiliates Trust       | NATIONAL STORAGE                     | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     53882 | NS      | $1567427.38   | 2.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Pacific Properties Inc           | HUDSON PACIFIC P                     | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    238189 | NS      | $581181.16    | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Sunstone Hotel Investors Inc.           | SUNSTONE HOTEL                       | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     73136 | NS      | $647253.60    | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Welltower Inc.                          | WELLTOWER INC                        | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     32111 | NS      | $5813375.44   | 10.42%            |  |  |  | No            | 1                  | On Loan: —       |
| American Healthcare REIT Inc.           | AMERICAN HEALTHC                     | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     55536 | NS      | $2516891.52   | 4.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix, Inc.                           | EQUINIX INC                          | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      2789 | NS      | $2359521.89   | 4.23%             |  |  |  | No            | 1                  | On Loan: No      |
| First Industrial Realty Trust, Inc.     | FIRST IND REALTY                     | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36340 | NS      | $2008875.20   | 3.60%             |  |  |  | No            | 1                  | On Loan: No      |
| UDR Inc                                 | UDR INC                              | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     61143 | NS      | $2059907.67   | 3.69%             |  |  |  | No            | 1                  | On Loan: No      |
| LXP Industrial Trust                    | LXP INDUSTRIAL T                     | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     60541 | NS      | $574534.09    | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| NEXTDC Ltd.                             | NEXTDC Ltd                           | CUSIP: Q6750Y106<br>LEI: 529900RTERU3X7G3D672 | Long             | EC               | CORP              | AU        |     40000 | NS      | $412511.45    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Sl Green Realty Corp                    | SL GREEN REALTY                      | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     32955 | NS      | $1692239.25   | 3.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Agree Realty Corp                       | AGREE REALTY                         | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |     22854 | NS      | $1668570.54   | 2.99%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Dunham Funds

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer