David Kennedy
About David Kennedy
David Kennedy (year of birth: 1964) serves as Vice President of DoubleLine Opportunistic Credit Fund (DBL), DoubleLine Income Solutions Fund (DSL), and DoubleLine Yield Opportunities Fund (DLY), with tenure since May 2012 at DBL/DSL and since November 2019 at DLY; his business address is c/o DoubleLine, 2002 North Tampa Street, Suite 200, Tampa, FL 33602 . He is also Manager, Trading and Settlements at DoubleLine Group LP, a role he has held since December 2009, suggesting deep operational continuity in fund trading and settlements; education and individual performance metrics (TSR, revenue, EBITDA) are not disclosed in fund filings . As a fund officer employed by DoubleLine, he does not receive compensation from the funds themselves, and fund filings do not report his cash or equity pay .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| DoubleLine Group LP | Manager, Trading and Settlements | Since Dec 2009 | Not disclosed in fund filings |
| DoubleLine Opportunistic Credit Fund (DBL) | Vice President | Since May 2012 | Fund officer; details not disclosed |
| DoubleLine Income Solutions Fund (DSL) | Vice President | Since May 2012 | Fund officer; details not disclosed |
| DoubleLine Yield Opportunities Fund (DLY) | Vice President | Since Nov 2019 | Fund officer; details not disclosed |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| None disclosed | — | — | — |
Fixed Compensation
- Officers employed by DoubleLine or its affiliates do not receive any compensation or expense reimbursement from DBL/DSL/DLY; cash salary, target bonus, and perquisites are not reported at the fund level .
| Component | 2024 | Notes |
|---|---|---|
| Base salary | Not disclosed | Fund filings indicate no fund-paid officer compensation |
| Target bonus % | Not disclosed | Not reported by funds |
| Actual bonus paid | Not disclosed | Not reported by funds |
| Perquisites | Not disclosed | Not reported by funds |
| Pension/SERP/Deferred comp | Not disclosed | Not reported by funds (trustee deferrals exist; officer pay not reported) |
Performance Compensation
- DBL/DSL/DLY do not report stock awards (RSUs/PSUs) or options for fund officers; as officers are compensated by DoubleLine, fund filings provide no grant details, performance metrics, or vesting schedules for David Kennedy .
| Incentive type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Equity awards (RSUs/PSUs) | Not disclosed | — | — | — | — | — |
| Stock options | Not disclosed | — | — | — | — | — |
| Annual bonus | Not disclosed | — | — | — | — | — |
Equity Ownership & Alignment
- Initial Section 16 filing: Form 3 lists “Common Stock” with 0 shares beneficially owned (Direct) for DBL; reporting relationship “Officer—Vice President”; event date listed as 05/24/2012; Form 3 was filed on 12/16/2022 and signed by David J. Kennedy .
- As of December 31, 2024, Trustees and officers as a group beneficially owned less than 1% of DBL’s outstanding Common Shares; DBL had 18,313,082 Common Shares outstanding at the December 20, 2024 record date .
| Item | Detail |
|---|---|
| Title of security | Common Stock |
| Amount beneficially owned | 0 shares (Direct) |
| Derivative securities | None listed on Form 3 |
| Reporting relationship | Officer (Vice President) |
| Form and date | Form 3 filed 12/16/2022; event date 05/24/2012 |
| Group holdings context | Officers and Trustees as a group <1% of DBL as of 12/31/2024 |
| Shares outstanding context | DBL outstanding shares: 18,313,082 (record date 12/20/2024) |
- Pledging/hedging: No pledging or hedging disclosures for David Kennedy in fund filings .
Employment Terms
| Term | Detail |
|---|---|
| Current title | Vice President (DBL/DSL since May 2012; DLY since Nov 2019) |
| Employment start at DoubleLine Group LP | Manager, Trading and Settlements since Dec 2009 |
| Contract term length | Officers serve on an indefinite basis per fund officer tables; specific employment contract terms not disclosed |
| Severance/change-of-control | Not disclosed in fund filings |
| Non-compete/non-solicit | Not disclosed in fund filings |
| Clawback/tax gross-ups | Not disclosed in fund filings |
| Section 16 compliance | Funds state Section 16(a) filing requirements were complied with during FY ended 9/30/2024, except a late Form 3 for another trustee (not David Kennedy) |
Investment Implications
- Pay-for-performance alignment cannot be assessed at the fund level because DBL/DSL/DLY do not compensate fund officers directly; cash and equity incentives, performance metrics, and vesting schedules for David Kennedy are not reported in fund filings .
- Insider selling pressure appears low at the fund level based on his Form 3 showing zero beneficial ownership in DBL common stock and no fund-reported officer equity awards; however, subsequent changes would require additional Section 16 updates or adviser-level disclosures not present in fund filings .
- Operational continuity and low retention risk signals are supported by his long-standing tenure as Vice President since 2012 and as Manager, Trading and Settlements since 2009, indicating deep process knowledge across DoubleLine funds; this supports execution quality in trading and settlements, though specific KPIs are not disclosed .
- Governance context: Trustees and officers as a group hold less than 1% of DBL, which limits direct fund-level ownership alignment; investors should rely on adviser-level incentives and broader DoubleLine governance/oversight for alignment signals .