0001752724-23-001999.txt : 20230113
0001752724-23-001999.hdr.sgml : 20230113
20230113172307
ACCESSION NUMBER: 0001752724-23-001999
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20221031
FILED AS OF DATE: 20230113
DATE AS OF CHANGE: 20230113
EFFECTIVENESS DATE: 20230113
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Dunham Funds
CENTRAL INDEX KEY: 0001420040
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22153
FILM NUMBER: 23529681
BUSINESS ADDRESS:
STREET 1: 10251 VISTA SORRENTO PARKWAY
STREET 2: SUITE 200
CITY: SAN DIEGO
STATE: CA
ZIP: 92121
BUSINESS PHONE: 858-964-0500
MAIL ADDRESS:
STREET 1: 10251 VISTA SORRENTO PARKWAY
STREET 2: SUITE 200
CITY: SAN DIEGO
STATE: CA
ZIP: 92121
0001420040
S000020971
Dunham Real Estate Stock Fund
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
0001420040
S000020972
Dunham Large Cap Value Fund
C000059511
Dunham Large Cap Value Fund Class A
DALVX
C000059512
Dunham Large Cap Value Fund Class C
DCLVX
C000059513
Dunham Large Cap Value Fund Class N
DNLVX
0001420040
S000020973
Dunham Small Cap Growth Fund
C000059514
Dunham Small Cap Growth Fund Class A
DADGX
C000059515
Dunham Small Cap Growth Fund Class C
DCDGX
C000059516
Dunham Small Cap Growth Fund Class N
DNDGX
0001420040
S000020974
Dunham Small Cap Value Fund
C000059517
Dunham Small Cap Value Fund Class A
DASVX
C000059518
Dunham Small Cap Value Fund Class C
DCSVX
C000059519
Dunham Small Cap Value Fund Class N
DNSVX
0001420040
S000020975
Dunham Long/Short Credit Fund
C000059520
Dunham Long/Short Credit Fund Class A
DAAIX
C000059521
Dunham Long/Short Credit Fund Class C
DCAIX
C000059522
Dunham Long/Short Credit Fund Class N
DNAIX
0001420040
S000020976
Dunham Corporate/Government Bond Fund
C000059523
Dunham Corporate/Government Bond Fund Class A
DACGX
C000059524
Dunham Corporate/Government Bond Fund Class C
DCCGX
C000059525
Dunham Corporate/Government Bond Fund Class N
DNCGX
0001420040
S000020977
Dunham Emerging Markets Stock Fund
C000059526
Dunham Emerging Markets Stock Fund Class A
DAEMX
C000059527
Dunham Emerging Markets Stock Fund Class C
DCEMX
C000059528
Dunham Emerging Markets Stock Fund Class N
DNEMX
0001420040
S000020978
Dunham High Yield Bond Fund
C000059529
Dunham High Yield Bond Fund Class A
DAHYX
C000059530
Dunham High Yield Bond Fund Class C
DCHYX
C000059531
Dunham High Yield Bond Fund Class N
DNHYX
0001420040
S000020979
Dunham International Stock Fund
C000059532
Dunham International Stock Fund Class A
DAINX
C000059533
Dunham International Stock Fund Class C
DCINX
C000059534
Dunham International Stock Fund Class N
DNINX
0001420040
S000022888
Dunham Monthly Distribution Fund
C000066378
Dunham Monthly Distribution Fund Class A
DAMDX
C000066379
Dunham Monthly Distribution Fund Class C
DCMDX
C000066380
Dunham Monthly Distribution Fund Class N
DNMDX
0001420040
S000028743
Dunham Dynamic Macro Fund
C000087895
Dunham Dynamic Macro Fund Class A
DAAVX
C000087896
Dunham Dynamic Macro Fund Class C
DCAVX
C000087897
Dunham Dynamic Macro Fund Class N
DNAVX
0001420040
S000034854
Dunham Focused Large Cap Growth Fund
C000107185
Dunham Focused Large Cap Growth Fund Class A
DAFGX
C000107186
Dunham Focused Large Cap Growth Fund Class C
DCFGX
C000107187
Dunham Focused Large Cap Growth Fund Class N
DNFGX
0001420040
S000042247
Dunham International Opportunity Bond Fund
C000131120
Dunham International Opportunity Bond Fund Class A
DAIOX
C000131121
Dunham International Opportunity Bond Fund Class C
DCIOX
C000131122
Dunham International Opportunity Bond Fund Class N
DNIOX
0001420040
S000042248
Dunham Floating Rate Bond Fund
C000131123
Dunham Floating Rate Bond Fund Class A
DAFRX
C000131124
Dunham Floating Rate Bond Fund Class C
DCFRX
C000131125
Dunham Floating Rate Bond Fund Class N
DNFRX
N-CEN
1
primary_doc.xml
X0404
N-CEN
LIVE
0001420040
XXXXXXXX
811-22153
N-1A
S000020974
C000059518
C000059517
C000059519
S000042247
C000131120
C000131122
C000131121
S000020975
C000059520
C000059522
C000059521
S000022888
C000066378
C000066379
C000066380
S000020972
C000059513
C000059512
C000059511
S000020973
C000059516
C000059515
C000059514
S000042248
C000131124
C000131123
C000131125
S000020978
C000059529
C000059530
C000059531
S000020979
C000059532
C000059534
C000059533
S000020971
C000059509
C000059510
C000059508
S000020977
C000059527
C000059528
C000059526
S000020976
C000059525
C000059523
C000059524
S000028743
C000087895
C000087897
C000087896
S000034854
C000107185
C000107187
C000107186
Dunham Funds
811-22153
0001420040
549300FI2C3SP4YCHL80
6256 Greenwich Dr.
Suite 550
San Diego
92122
US-CA
US
858-964-0500
Ultimus Fund Solutions, LLC
225 Pictoria Drive, Suite 450
Cincinnati
45246
855-891-0092
Records related to its function as administrator, transfer agent and accounting agent
N
N
N-1A
14
Y
Paul A. Rosinack
N/A
N
Michael J. Torvinen
N/A
N
Jeffrey A. Dunham
N/A
Y
Henry R. Goldstein
N/A
N
Viktoria Palermo
N/A
6256 Greenwich Dr.
Suite 550
San Diego
92122
XXXXXX
N
N
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
8-28527
N/A
N/A
Y
N
BBD, LLP
552
N/A
N
N
N
N
N
N
Dunham Small Cap Value Fund
S000020974
549300FUKK5THH5JHD83
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
22777414.71999999
22866.00000000
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Ziegler Capital Management Inc.
801-111813
000309195
J6FZKP08Z2X6Q8KQ7U12
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
4124.43999999
CAPITAL INSTITUTIONAL SERVICES, INC.
8-22273
000007551
54930061X8RDWFDJIS05
53325.68000000
ROYAL BANK OF CANADA CAPITAL MARKETS
8-39947
000022698
ES7IP3U3RHIGC71XBU11
32267.72000000
KEYBANC CAPITAL MARKETS INC.
8-30177
000000566
2EQWV0180Z211YVAD813
2370.60000000
ALEX.BROWN
8-10999
000000705
U4ONQX15J3RO8XCKE979
3430.28000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
83028.28000000
DEUTSCHE BANK
8-17822
000002525
9J6MBOOO7BECTDTUZW19
7562.00000000
PIPER SANDLER
8-15204
000000665
549300GRQCWQ3XGH0H10
2694.24000000
SANFORD FINANCIAL SERVICES
8-52942
000151388
549300I7JYZHT7D5CO04
3907.72000000
WILLIAM BLAIR & CO
8-02698
000001252
549300J0P7XYE8BMZ775
6825.68000000
199536.64000000
KEYBANC CAPITAL MARKETS INC.
8-30177
000000566
2EQWV0180Z211YVAD813
5967090.25000000
0
N
81108937.28000000
Uncommitted
50000000.00000000
N
N
N
Dunham International Opportunity Bond Fund
S000042247
549300CZHQ4VN7TRVE44
N
3
0
0
N/A
Y
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
1809572.69000000
10720.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Virtus Fixed Income Advisers, LLC
801-68743
000136029
549300L7I4W19C7JV575
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
5222.07000000
5222.07000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
8042464.49000000
U.S. BANCORP INVESTMENTS, INC.
8-35359
000017868
H85Z6XZP8B10ES0M2G89
24816000.00000000
HSBC SECURITIES
8-41562
000019585
MP6I5ZYZBEU3UXPYFY54
GB
9332160.46000000
JEFFERIES GROUP
8-15074
000002347
58PU97L1C0WSRCWADL48
7862578.56000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
4594256.47000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
6496630.25000000
BARRINGTON RESEARCH
8-29831
000013820
549300EAYDU2H358PB45
84769413.41000000
CAPSTONE GLOBAL MARKETS
8-67583
000143612
9845002A4C51D9EF8B27
7936205.33000000
Goldman Sachs
8-129
000000361
FOR8UP27PHTHYVLBNG30
5199579.50000000
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
237073198.35000000
423253502.33000000
N
57827925.10000000
Uncommitted
50000000.00000000
N
N
N
Dunham Long/Short Credit Fund
S000020975
549300HNTJP4LP1J7Y67
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securites Lending Agent
15699063.18999999
32903.10000000
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Metlife Investment Advisors LLC
801-67314
000285684
EAUO72Q8FCR1S0XGYJ21
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
0
Morgan Stanley Smith Barney
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
142060510.61000000
Barclays
8-41342
000019714
AC28XWWI3WIBK2824319
74701946.96000000
JPMorgan Chase
8-35008
000000079
ZBUT11V806EZRVTWT807
32689946.46000000
CITADEL SECURITIES
8-53574
000116797
12UUJYTN7D3SW8KCSG25
110959167.83000000
Goldman Sachs
8-129
000000361
FOR8UP27PHTHYVLBNG30
43291311.36999999
RELIGARE CAPITAL MARKETS
8-48591
000039142
549300EE5KQ1LFZMHQ89
58688382.49000000
PIERPONT CAPITAL
8-68282
000150696
549300LGG2RLWD21SU97
31633215.35999999
Bank of America Merrill Lynch
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
116441557.17000000
HSBC Securities
8-41562
000019585
MP6I5ZYZBEU3UXPYFY54
441753148.09350002
BNP PARIBAS
8-40490
000024962
549300K202RXT0NG9L40
36637127.07999999
1329822282.45337700
N
238720284.00000000
Uncommitted
50000000.00000000
N
N
N
N
Dunham Monthly Distribution Fund
S000022888
549300BJH1DPTJHNON75
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
15049239.50000000
22789.03000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Grantham, Mayo, Van Otterloo & Co., LLC
801-15028
000106220
KG0ECHUB6SFORDPJZK65
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
LIQUIDNET
8-52461
000103987
213800HSKBBO1GCVRG79
11751.09000000
UBS AG
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
CH
43730.62000000
JEFFERIES GROUP
8-15074
000002347
NY9Q8VBNB6D1L6YV0J84
125217.63000000
COWEN GROUP
8-22522
000007616
549300WR155U7DVMIW58
94477.71000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
36400.94999999
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
41712.19000000
CITIBANK
8-8177
000007059
CYSD4L2598RQ9BPPCB72
21357.63000000
INSTINET INC
8-23669
000007897
549300MGMN3RKMU8FT57
99905.64000000
GOLDMAN SACHS
8-129
000000361
FOR8UP27PHTHYVLBNG30
8412.41000000
UNITED FIRST PARTNERS
8-68718
000155456
254900WD45SOCZ7IKM52
18691.38000000
530762.66000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
342466.98964799
US BANCORP
8-35359
000017868
H85Z6XZP8B10ES0M2G89
6276000.00000000
336954059.55653387
N
249159224.58339715
Uncommitted
50000000.00000000
N
N
N
Dunham Large Cap Value Fund
S000020972
5493001VLJXYGHEP4K98
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
15053010.60000000
15341.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Rothschild & Co Asset Management, Inc.
801-5875
000110349
9845007HYL5B8ED63A37
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Goldman Sachs
8-129
000000361
FOR8UP27PHTHYVLBNG30
474.75000000
TRUIST SECURITIES
8-17212
000006271
CSVTK36R0PNGXEM7NS14
732.00000000
FERRETTI GROUP
8-51895
000047768
254900CIWUSRGAPET478
1737.29000000
RAYMOND JAMES
8-10999
000000705
U4ONQX15J3RO8XCKE979
651.70000000
COWEN & COMPANY
8-22522
000007616
549300WR155U7DVMIW58
412.79000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
357.35000000
CAPITAL INSTITUTIONAL SERVICES, INC.
8-22273
000007551
54930061X8RDWFDJIS05
3463.18000000
STIFEL NICOLAUS
008-01447
000000793
5WUVMA08EYG4KEUPW589
3548.44000000
JPMorgan Chase
8-129
000000361
FOR8UP27PHTHYVLBNG30
1736.10000000
KEEFE, BRUYETTE & WOODS
8-10888
000000481
549300OM47DQV01G4854
567.00000000
14698.69000000
0
N
157932427.96000000
Uncommitted
50000000.00000000
N
N
N
N
Dunham Small Cap Growth Fund
S000020973
54930051EXOQ52YVED02
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
15753765.03999999
59023.41000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Pier Capital, LLC.
801-63390
000131212
2549001TJTQYPPNJBU40
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
CAPITAL INSTITUTIONAL SERVICES (CAPIS)
8-22273
000007551
54930061X8RDWFDJIS05
23430.42000000
STIFEL NICOLAUS
008-01447
000000793
5WUVMA08EYG4KEUPW589
12004.83000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
6744.02000000
PIPER SANDLER
008-15204
000000665
549300GRQCWQ3XGH0H10
9179.49000000
OPPENHEIMER & CO
8-4077
000000249
254900VH02JQR2L8XD64
7145.80000000
ROBERT W. BAIRD & CO.
008-00497
000008158
549300772UJAHRD6LO53
8224.87999999
WILLIAM BLAIR & CO
008-02698
000001252
549300J0P7XYE8BMZ775
10855.31000000
COWEN GROUP
8-22522
000007616
549300WR155U7DVMIW58
9008.84000000
RAYMOND JAMES
008-10999
000000705
U4ONQX15J3RO8XCKE979
8982.37999999
JEFFERIES GROUP
8-15074
000002347
NY9Q8VBNB6D1L6YV0J84
8812.43000000
166265.64000000
US Bancorp.
8-35359
000017868
H85Z6XZP8B10ES0M2G89
404000.00000000
7090000.00000000
N
77385698.55802735
Uncommitted
50000000.00000000
N
N
N
Dunham Floating Rate Bond Fund
S000042248
549300UGWNBB21ENNS29
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
4953066.47000000
21391.75999999
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Pinebridge Investments, LLC.
801-18759
000105926
CLDVY8VY4GNT81Q4VM57
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Bloomberg
8-49219
000040881
549300B56MD0ZC402L06
4000
4000
Credit Suisse
8-422
000000816
549300506SI9CRFV9Z86
23466079.08830300
Goldman Sachs
8-129
000000361
FOR8UP27PHTHYVLBNG30
35542007.19651820
Bank of America Merrill Lynch
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
56829065.77444270
Barclays
8-41342
000019714
AC28XWWI3WIBK2824319
30159330.37252080
Citibank
8-8177
000007059
CYSD4L2598RQ9BPPCB72
14448434.07055710
JP Morgan Chase
8-35008
000000079
ZBUT11V806EZRVTWT807
58073438.66000000
US Bancorp
8-35359
000017868
H85Z6XZP8B10ES0M2G89
42340908.53980000
ROYAL BANK OF CANADA CAPITAL MARKETS
8-39947
000022698
ES7IP3U3RHIGC71XBU11
12288634.69787420
Wells Fargo bank
8-65876
000126292
VYVVCKR63DVZZN70PB21
13620568.07851980
Deutsche Bank
8-17822
000002525
9J6MBOOO7BECTDTUZW19
11864332.11427499
413158392.24117600
N
196198056.01279458
Uncommitted
50000000.00000000
N
N
N
Dunham High Yield Bond
S000020978
549300EMO57TQ4UQFX73
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
8798856.43000000
40639.67000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Pinebridge Investments, LLC.
801-18759
000105926
CLDVY8VY4GNT81Q4VM57
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
0
GOLDMAN SACHS
8-129
000000361
FOR8UP27PHTHYVLBNG30
10268618.20085230
RAYMOND JAMES
008-10999
000000705
U4ONQX15J3RO8XCKE979
8345400.00000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
11573716.42999870
CREDIT SUISSE FIRST BOSTON
8-422
000000816
549300506SI9CRFV9Z86
4505757.00000000
JEFFERIES GROUP
8-15074
000002347
NY9Q8VBNB6D1L6YV0J84
5419983.59999999
CITIGROUP
8-8177
000007059
MBNUM2BPBDO7JBLYG310
9936605.86000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
4843306.84000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
8310408.68035578
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
5598196.50000000
WELLS FARGO BANK
8-65876
000126292
VYVVCKR63DVZZN70PB21
4493950.00000000
90062784.66014950
N
107302371.60723288
Uncommitted
50000000.00000000
N
N
N
N
Dunham International Stock Fund
S000020979
549300HN7WF948JOOR53
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
10838452.61999999
43683.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Arrowstreet Capital Limited Partnership
801-56633
000111298
LO3UDTZUG0RICVPFGQ53
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
BANK OF MONTREAL
8-67064
000137115
3Y4U8VZURTYWI1W2K376
3215.38000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
3484.24000000
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
3481.34000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
3956.08000000
CITIGROUP
8-8177
000007059
MBNUM2BPBDO7JBLYG310
4296.17000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
5006.10000000
ROYAL BANK OF CANADA CAPITAL MARKETS
8-39947
000022698
ES7IP3U3RHIGC71XBU11
2788.37000000
UBS
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
CF
2739.72000000
JEFFERIES GROUP
8-15074
000002347
58PU97L1C0WSRCWADL48
2924.87000000
PENSERRA SECURITIES
8-67773
000145994
549300WY8ZBI168Y6Z05
4030.63000000
59174.44000000
US BANCORP
8-35359
000017868
H85Z6XZP8B10ES0M2G89
14528000.00000000
UBS
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
CF
5331.38000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
5.91000000
COWEN & COMPANY
8-22522
000007616
549300WR155U7DVMIW58
337328.56000000
HSBC SECURITIES
8-41562
000019585
CYYGQCGNHMHPSMRL3R97
27269.46000000
UBS
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
CF
4617468.24000000
NOMURA GROUP
8-15255
000004297
OXTKY6Q8X53C9ILVV871
7.98000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
396277.09000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
230018.12000000
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
168832.43000000
19145476.22000000
N
161836223.52000000
Uncommitted
50000000.00000000
N
N
N
Dunham Real Estate Stock Fund
S000020971
549300NHRSYVLPC3PQ36
N
3
0
0
N/A
Y
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
21423632.94999999
119626.70000000
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
American Assets Capital Advisers, LLC
801-80101
000168805
N/A
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
STIFEL NICOLAUS
008-01447
000000793
5WUVMA08EYG4KEUPW589
16682.88000000
ALEX.BROWN
008-10999
000000705
U4ONQX15J3RO8XCKE979
11764.70000000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
16419.18000000
WELLS FARGO BANK
8-65876
000126292
VYVVCKR63DVZZN70PB21
10450.23000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
28612.83000000
COMPASS POINT
8-65866
000126258
254900VW04UOPUJ5PX70
8463.50000000
RAYMOND JAMES
008-10999
000000705
U4ONQX15J3RO8XCKE979
18979.84000000
117874.98000000
US Bancorp.
8-35359
000017868
H85Z6XZP8B10ES0M2G89
971000.00000000
10494014.88999974
N
92356460.92432874
Uncommitted
50000000.00000000
N
N
N
Dunham Emerging Markets Stock Fund
S000020977
549300H44PWNDVV6MH44
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
1590940.23000000
2489.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
NS Partners Ltd.
801-26315
000110625
5493007WB278T7U8VH86
N
GB
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
CICC US SECURITIES, INC.
8-67544
000143221
2549000DUR72WYLKY616
8749.86000000
CLSA
8-69166
000165533
213800M2DXATWY7JMS07
45971.49000000
JEFFERIES GROUP
8-15074
000002347
58PU97L1C0WSRCWADL48
49514.57000000
SANFORD FINANCIAL SERVICES
8-52942
000151388
549300I7JYZHT7D5CO04
6495.19000000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
14067.70000000
MAYBANK
8-43264
000027861
2549009H2HEH6G0DLU87
1423.57000000
WOOD & COMPANY
8-3368
000003798
N/A
272.69000000
126495.07000000
JEFFERIES GROUP
8-15074
000002347
58PU97L1C0WSRCWADL48
889236.74000000
CLSA
8-69166
000165533
213800M2DXATWY7JMS07
32226.20000000
U.S. BANCORP INVESTMENTS, INC.
8-35359
000017868
H85Z6XZP8B10ES0M2G89
704500.00000000
CLSA
8-69166
000165533
213800M2DXATWY7JMS07
45971.49
7934236.74000000
N
122243021.56000000
Uncommitted
50000000.00000000
N
N
N
Dunham Corporate/Government Bond Fund
S000020976
549300TMDJ8PGJIEKS74
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
4178300.43000000
5591.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Virtus Fixed Income Advisers, LLC
801-68743
000136029
549300L7I4W19C7JV575
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
Pricing Direct
N/A
N
Markit
N/A
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Jane Street
8-69254
000167280
549300HXJLXCPDWAH070
110.37000000
Jane Street
8-69254
000167280
549300HXJLXCPDWAH070
109.22000000
110.37000000
CREDIT SUISSE
8-422
000000816
549300506SI9CRFV9Z86
5715380.50162616
GOLDMAN SACHS
8-129
000000361
FOR8UP27PHTHYVLBNG30
5906619.87886012
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
7573093.69450209
BARCLAYS
8-41342
000019714
AC28XWWI3WIBK2824319
5531814.17068598
SIEBERT BRANDFORD SHANK & CO
8-49877
000042568
254900VTARX8RAY9QK77
2391596.29999999
WELLS FARGO BANK
8-65876
000126292
VYVVCKR63DVZZN70PB21
6032846.23198172
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
5956955.43571309
US BANCORP
8-35359
000017868
H85Z6XZP8B10ES0M2G89
9649656.32000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
8189051.19614257
CITIGROUP
8-8177
000007059
MBNUM2BPBDO7JBLYG310
4440656.93268568
78185126.25000000
N
75312037.84000000
Uncommitted
50000000.00000000
N
N
N
Dunham Dynamic Macro Fund
S000028743
549300QCEJLNTIYU7A30
N
3
0
0
N/A
N
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
4189481.66000000
7985.00000000
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
Newton Investment Management NA
801-120501
000312937
549300USELNALQ9OYY51
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
FLOW TRADERS
8-68300
000150780
549300K64LZQW7R9ST34
59.37000000
GOLDMAN SACHS
8-129
000000361
FOR8UP27PHTHYVLBNG30
11799.71000000
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
170.62000000
CITIGROUP
8-8177
000007059
MBNUM2BPBDO7JBLYG310
24.51000000
SUSQUEHANNA CAPITAL GROUP
8-43174
000029337
549300RX9GZX8Y9IGJ81
2197.60000000
SUSQUEHANNA CAPITAL GROUP
8-43174
000029337
549300RX9GZX8Y9IGJ81
58.14000000
CANTOR FITZGERALD
8-00201
000159296
549300DWZ3YOKJO5X179
102.58000000
Jane Street
8-69254
000167280
549300HXJLXCPDWAH070
86.29000000
CITADEL SECURITIES
8-53574
000116797
12UUJYTN7D3SW8KCSG25
11.93000000
14167.93000000
Goldman Sachs
8-129
000000361
FOR8UP27PHTHYVLBNG30
520685099.94805998
CITIGROUP
8-8177
000007059
MBNUM2BPBDO7JBLYG310
11498279.63409000
MORGAN STANLEY SMITH BARNEY
8-68191
000149777
7PDDXEMZ0ZV0CEDU4D16
24069517.95074899
CAPSTONE GLOBAL MARKETS
8-67583
000143612
N/A
3643152.66494800
JPMORGAN CHASE
8-35008
000000079
ZBUT11V806EZRVTWT807
1367099.53250000
BANK OF AMERICA MERRILL LYNCH
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
4980230.55470199
557619997.06000000
N
25267128.07000000
Uncommitted
50000000.00000000
N
N
N
N
Dunham Focused Large Cap Growth Fund
S000034854
549300RBSK31DR791214
N
3
0
0
N/A
Y
N
Y
N
N
U.S. Bancorp Asset Management, Inc.
8KUMV9EIJ75IBFMLFD23
N
N
Other
75% Funds/25% Securities Lending Agent
230757013.22000000
24205.08000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Dunham & Associates Investment Counsel, Inc.
801-25803
000013162
N/A
N
The Ithaka Group, LLC
801-69086
000146975
N/A
N
N
Ultimus Fund Solutions, LLC
84-05829
N/A
N
N
N
ICE Data Services
N/A
N
N
US Bank
N1GZ7BBF3NP8GI976H15
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
Dunham & Associates Investment Counsel, Inc.
000013162
CRD Number
Y
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Ultimus Fund Solutions, LLC
84-05829
Filing Number
N
N
N
Cowen Group
8-22522
000007616
549300WR155U7DVMIW58
10282.22
10282.22
0
N
176995585.18115073
Uncommitted
50000000.00000000
N
N
N
true
INTERNAL CONTROL RPT
2
Dunham_103122_NCEN.txt
INTERNAL CONTROL LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Board of Trustees and the Shareholders of
Dunham Funds
In planning and performing our audits of the financial
statements of Dunham Corporate/Government Bond
Fund Dunham Floating Rate Bond Fund Dunham High-
Yield Bond Fund Dunham International Opportunity
Bond Fund Dunham Large Cap Value Fund Dunham
Small Cap Value Fund Dunham Focused Large Cap
Growth Fund Dunham Small Cap Growth Fund Dunham
Emerging Markets Stock Fund Dunham International
Stock Fund Dunham Dynamic Macro Fund Dunham
LongShort Credit Fund Dunham Monthly Distribution
Fund and Dunham Real Estate Stock Fund each a
series of shares of beneficial interest in Dunham Funds
(the Funds) as of October 31 2022 and for the year then
ended in accordance with the standards of the Public
Company Accounting Oversight Board (United States)
(PCAOB) we considered the Funds internal control over
financial reporting including controls over safeguarding
securities as a basis for designing our auditing
procedures for the purpose of expressing our opinion on
the financial statements and to comply with the
requirements of Form N-CEN but not for the purpose of
expressing an opinion on the effectiveness of the Funds
internal control over financial reporting. Accordingly we
express no such opinion.
The management of the Funds is responsible for
establishing and maintaining effective internal control
over financial reporting. In fulfilling this responsibility
estimates and judgments by management are required
to assess the expected benefits and related costs of
controls. A funds internal control over financial reporting
is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes
in accordance with accounting principles generally
accepted in the United States of America (GAAP). A
funds internal control over financial reporting includes
those policies and procedures that (1) pertain to the
maintenance of records that in reasonable detail
accurately and fairly reflect the transactions and
dispositions of the assets of the fund (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of the financial
statements in accordance with GAAP and that receipts
and expenditures of the fund are being made only in
accordance with authorizations of management and
trustees of the fund; and (3) provide reasonable
assurance regarding prevention or timely detection of
unauthorized acquisition use or disposition of a funds
assets that could have a material effect on the financial
statements.
Because of inherent limitations internal control over
financial reporting may not prevent or detect
misstatements. Also projections of any evaluation of
effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in
conditions or that the degree of compliance with the
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees in the normal course of
performing their assigned functions to prevent or detect
misstatements on a timely basis. A material weakness
is a deficiency or combination of deficiencies in internal
control over financial reporting such that there is a
reasonable possibility that a material misstatement of the
Funds annual or interim financial statements will not be
prevented or detected on a timely basis.
Our consideration of the Funds internal control over
financial reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose
all deficiencies in internal control that might be material
weaknesses under standards established by the
PCAOB. However we noted no deficiencies in the
Funds internal control over financial reporting and its
operation including controls over safeguarding securities
that we consider to be a material weakness as defined
above as of October 31 2022.
This report is intended solely for the information and use
of management and the Board of Trustees of Dunham
Funds and the Securities and Exchange Commission
and is not intended to be and should not be used by
anyone other than these specified parties.
/s/BBD LLP
Philadelphia Pennsylvania
December 30 2022