# EDGAR Filing Document

**Accession Number:** 0001420040
**File Stem:** 0001752724-25-162765
**Filing Date:** 2025-6
**Character Count:** 25616
**Document Hash:** afce0290559f9701fa1cafc3c09c621e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162765.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162765

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**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:** 251089879

**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 Monthly Distribution Fund (Series ID: S000022888)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000066378 | Dunham Monthly Distribution Fund Class A | DAMDX           |
| C000066379 | Dunham Monthly Distribution Fund Class C | DCMDX           |
| C000066380 | Dunham Monthly Distribution Fund Class N | DNMDX           |

## 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 Monthly Distribution Fund

- **b. EDGAR series identifier (if any):** S000022888

- **c. LEI of Series:** 549300BJH1DPTJHNON75

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $309887520.96

**Total Liabilities:** $88409748.31

**Net Assets:** $221477772.65

**Cash Not Reported:** $79847995.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000066378 | 0.48%                | 0.22%                | 1.08%                |
| Class ID C000066379 | 0.44%                | 0.17%                | 1.01%                |
| Class ID C000066380 | 0.52%                | 0.24%                | 1.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $636458.23               | $1047276.50                                |
| Month 2  | $837750.33               | $44603.66                                  |
| Month 3  | $1490491.04              | $1429299.61                                |

**Designated Index Information**

- **Index Name:** Dunham Monthly Distribution Fund DRP

- **Index Identifier:** DUNHAM MONTHLY DISTRIBUTION FUND DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AMERICAN AIRLINES GROUP, INC. ESCROW SEC | AMR CORP-ESCROW SECURITY             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    101283 | NS      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Altaba Inc                               | ALTABA INC                           | CUSIP: 021346101<br>LEI: 549300ZJC0V1K2ZCKG85 | Long             | EC               | RF                | US        |   2468782 | NS      | $3703173.00   | 1.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Amedisys Inc                             | AMEDISYS INC                         | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |     78678 | NS      | $7466542.20   | 3.37%             |  |  |  | No            | 1                  | On Loan: No      |
| American Airlines Group Inc              | AMERICAN AIRLINE                     | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1025 | NS      | $10198.75     | 0.00%             |  |  |  | No            | 1                  | On Loan: —       |
| The AZEK Company Inc                     | AZEK CO INC/THE                      | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Long             | EC               | CORP              | US        |    261438 | NS      | $12956867.28  | 5.85%             |  |  |  | No            | 1                  | On Loan: No      |
| ChampionX Corporation                    | CHAMPIONX CORP                       | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |    181921 | NS      | $4389753.73   | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Charter Communications, Inc.             | CHARTER COMMUN-A                     | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |    -31096 | NS      | $-12185278.56 | -5.50%            |  |  |  | No            | 1                  | On Loan: No      |
| Chevron Corp.                            | CHEVRON CORP                         | CUSIP: 166764100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -121154 | NS      | $-16484213.24 | -7.44%            |  |  |  | No            | 1                  | On Loan: No      |
| Columbia Banking System Inc.             | COLUMBIA BANKING                     | CUSIP: 197236102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -41529 | NS      | $-931080.18   | -0.42%            |  |  |  | No            | 1                  | On Loan: No      |
| Columbia Pipeline Group, Inc.            | COLUMBIA PIPELIN                     | CUSIP: 198280109<br>LEI: 549300SRP1TQM9JJBG80 | Long             | EC               | CORP              | US        |     84102 | NS      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dun & Bradstreet Holdings Inc            | DUN & BRADSTREET                     | CUSIP: 26484T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    717794 | NS      | $6438612.18   | 2.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Everi Holdings Inc                       | EVERI HOLDINGS I                     | CUSIP: 30034T103<br>LEI: 5299006DK5S7BG10K532 | Long             | EC               | CORP              | US        |    477890 | NS      | $6714354.50   | 3.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Colchester Street Trust         | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  24035033 | PA      | $24035033.22  | 10.85%            |  |  |  | No            | 1                  | On Loan: No      |
| Frontier Communications Parent Inc       | FRONTIER COMMUNI                     | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290806 | NS      | $10541717.50  | 4.76%             |  |  |  | No            | 1                  | On Loan: No      |
| H&E Equipment Services, Inc.             | H&E EQUIPMENT SE                     | CUSIP: 404030108<br>LEI: 254900KVLRCDMQRYY541 | Long             | EC               | CORP              | US        |      8083 | NS      | $725934.23    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Herc Holdings Inc                        | HERC HOLDINGS IN                     | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Short            | EC               | CORP              | US        |     -1040 | NS      | $-113817.60   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Hess Corporation                         | HESS CORP                            | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |    118183 | NS      | $15251516.15  | 6.89%             |  |  |  | No            | 1                  | On Loan: —       |
| The Interpublic Group of Companies, Inc. | INTERPUBLIC GRP                      | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Short            | EC               | CORP              | US        |   -275227 | NS      | $-6913702.24  | -3.12%            |  |  |  | No            | 1                  | On Loan: No      |
| Kellanova                                | KELLANOVA                            | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |     60845 | NS      | $5036140.65   | 2.27%             |  |  |  | No            | 1                  | On Loan: —       |
| Liberty Broadband Corporation            | LIBERTY BR-C                         | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |    131747 | NS      | $11908611.33  | 5.38%             |  |  |  | No            | 1                  | On Loan: —       |
| Mr Cooper Group Inc                      | MR COOPER GROUP                      | CUSIP: 62482R107<br>LEI: 549300KD8C6DPXYC2M26 | Long             | EC               | CORP              | US        |     37700 | NS      | $4486677.00   | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| ESC NII HOLDINGS INC                     | ESC NII HOLDINGS INC                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    205893 | NS      | $72062.55     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Nordstrom, Inc.                          | NORDSTROM INC                        | CUSIP: 655664100<br>LEI: 549300S3IZB5P35KNV16 | Long             | EC               | CORP              | US        |    230078 | NS      | $5554082.92   | 2.51%             |  |  |  | No            | 1                  | On Loan: —       |
| Omnicom Group Inc                        | OMNICOM GROUP                        | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     94678 | NS      | $7210676.48   | 3.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Pacific Premier Bancorp Inc              | PACIFIC PREMIER                      | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Long             | EC               | CORP              | US        |     45388 | NS      | $923191.92    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| PERSHING SPARC HLDGS RTS                 | PERSHING SPARC HLDGS RTS             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    117448 | NS      | $35234.40     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| RESOLUTE FOREST PRODUCTS, INC. - CVR     | RESOLUTE FOREST -CVR                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    532221 | NS      | $798331.50    | 0.36%             |  |  |  | No            | 2                  | On Loan: No      |
| Schlumberger Limited                     | SCHLUMBERGER LTD                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Short            | EC               | CORP              | CW        |   -133714 | NS      | $-4445990.50  | -2.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Triumph Group, Inc.                      | TRIUMPH GROUP                        | CUSIP: 896818101<br>LEI: 5493007L6S47Q14SL582 | Long             | EC               | CORP              | US        |    175613 | NS      | $4460570.20   | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Steel Corporation          | US STEEL CORP                        | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |    233665 | NS      | $10213497.15  | 4.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Walgreens Boots Alliance Inc.            | WALGREENS BOOTS                      | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |    886163 | NS      | $9721208.11   | 4.39%             |  |  |  | No            | 1                  | On Loan: No      |
| WillScot Holdings Corporation            | WILLSCOT HOLDING                     | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    196966 | NS      | $4947785.92   | 2.23%             |  |  |  | No            | 1                  | On Loan: No      |
| 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      |
| ABIOMED, INC.                            | ABIOMED INC -CVR                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     34956 | NS      | $55929.60     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                      | AZEK US 12/19/25 C50                 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -450 | NC      | $-208125.00   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| Whitecap Resources Inc                   | WHITECAP RESOURC                     | CUSIP: 96467A200<br>LEI: 5493004AMPGZA0JO5Q37 | Short            | EC               | CORP              | CA        |  -1471001 | NS      | $-8345166.47  | -3.77%            |  |  |  | No            | 1                  | On Loan: No      |
| James Hardie Industries PLC              | JAMES HARDIE-CDI                     | CUSIP: G4253H119<br>LEI: 635400NSGXKTVOO7JU45 | Short            | EC               | CORP              | IE        |   -111653 | NS      | $-2646314.14  | -1.19%            |  |  |  | No            | 1                  | On Loan: No      |
| ESR Group Ltd.                           | ESR GROUP LTD                        | CUSIP: G31989109<br>LEI: 549300C81AR42BZUFZ09 | Long             | EC               | CORP              | KY        |   5436022 | NS      | $8663240.17   | 3.91%             |  |  |  | Yes           | 1                  | On Loan: No      |
| Veren Inc                                | VEREN INC                            | CUSIP: 92340V107<br>LEI: 549300FTKUHZK8OC7N74 | Long             | EC               | CORP              | CA        |   1400965 | NS      | $8293402.20   | 3.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Covestro AG                              | COVESTRO-TEND                        | CUSIP: D15349117<br>LEI: 3912005AWHKLQ1CPLV11 | Long             | EC               | CORP              | DE        |    189436 | NS      | $12757934.69  | 5.76%             |  |  |  | Yes           | 1                  | On Loan: No      |
| Just Eat Takeaway.Com N.V                | JUST EAT TAKEAWA                     | CUSIP: N4753E105<br>LEI: 724500FVZIBSSQ7SHI95 | Long             | EC               | CORP              | NL        |    130340 | NS      | $2843244.44   | 1.28%             |  |  |  | Yes           | 1                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - AUD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    930157 | NC      | $11669.67     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - AUD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1764046 | NC      | $25956.31     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - HKD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    160594 | NC      | $53.63        | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   8680434 | NC      | $-850218.93   | -0.38%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   4017000 | NC      | $-947.19      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  37476881 | NC      | $-8836.83     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  20510126 | NC      | $-3837.46     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1786964 | NC      | $-144885.95   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    789384 | NC      | $-61071.87    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2022800 | NC      | $-321.38      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    413400 | NC      | $-48.81       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    312000 | NC      | $-33.88       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    488250 | NC      | $-21045.28    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   4605679 | NC      | $-755.83      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2271692 | NC      | $-94816.09    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    374210 | NC      | $1895.79      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1310400 | NC      | $-51.85       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | COOP US 01/16/26 C130                | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -377 | NC      | $-706875.00   | -0.32%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | COOP US 01/16/26 P95                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       377 | NC      | $329875.00    | 0.15%             |  |  |  | No            | 2                  | On Loan: No      |
| Enstar Group Ltd                         | ENSTAR GROUP LTD                     | CUSIP: G3075P101<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EC               | CORP              | BM        |     20366 | NS      | $6810594.06   | 3.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Playa Hotels & Resorts N V               | PLAYA HOTELS & RESORTS NV            | CUSIP: N70544106<br>LEI: 529900BUP3KWPCJNLS49 | Long             | EC               | CORP              | NL        |    187911 | NS      | $2521765.62   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                      | RKT US 01/16/26 P9.2                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        46 | NC      | $6785.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | WSC US 12/19/25 C25                  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |     -1970 | NC      | $-748600.00   | -0.34%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | X US 07/18/25 C37                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |     -1341 | NC      | $-1156612.50  | -0.52%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                      | X US 07/18/25 C42                    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -520 | NC      | $-271700.00   | -0.12%            |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Dunham Funds

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer