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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sandvik A/B</name>
        <lei>5299008ZUAXN43LVZF54</lei>
        <title>Sandvik AB</title>
        <cusip>W74857165</cusip>
        <identifiers>
          <isin value="SE0000667891"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.83215000"/>
        <valUSD>779839.61000000</valUSD>
        <pctVal>2.612481907990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accuray Incorporated</name>
        <lei>549300G28LY4TZKZJG51</lei>
        <title>ACCURAY INC</title>
        <cusip>004397105</cusip>
        <identifiers>
          <isin value="US0043971052"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>484750.00000000</valUSD>
        <pctVal>1.623924443769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Omnicell Inc</name>
        <lei>5493008RH0GTKHHPZI77</lei>
        <title>OMNICELL INC</title>
        <cusip>68213N109</cusip>
        <identifiers>
          <isin value="US68213N1090"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1084050.00000000</valUSD>
        <pctVal>3.631594209939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Elekta AB</name>
        <lei>54930044O54BK617EP80</lei>
        <title>Elekta AB</title>
        <cusip>W2479G107</cusip>
        <identifiers>
          <isin value="SE0000163628"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.83215000"/>
        <valUSD>461699.63000000</valUSD>
        <pctVal>1.546705136330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Isra Vision Ag</name>
        <lei>5299003X7GPVWMS70V40</lei>
        <title>ISRA VISION AG</title>
        <cusip>D36816102</cusip>
        <identifiers>
          <isin value="DE0005488100"/>
        </identifiers>
        <balance>21419.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91726250"/>
        <valUSD>899480.66000000</valUSD>
        <pctVal>3.013282373330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tecan Group Ag</name>
        <lei>529900CSN9R3BLETSL26</lei>
        <title>TECAN GROUP AG-REG</title>
        <cusip>H84774167</cusip>
        <identifiers>
          <isin value="CH0012100191"/>
        </identifiers>
        <balance>3077.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.99715000"/>
        <valUSD>735653.41000000</valUSD>
        <pctVal>2.464457049285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kardex AG</name>
        <lei>529900JKKMQ07D6QZ480</lei>
        <title>Kardex AG</title>
        <cusip>H44577189</cusip>
        <identifiers>
          <isin value="CH0100837282"/>
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        <balance>5550.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.99715000"/>
        <valUSD>766975.88000000</valUSD>
        <pctVal>2.569388095541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATS Automation Tooling Systems Inc.</name>
        <lei>5493005KP4RP3IU7HQ41</lei>
        <title>ATS AUTOMATION TOOLING SY</title>
        <cusip>001940105</cusip>
        <identifiers>
          <isin value="CA0019401052"/>
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        <balance>40509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32400000"/>
        <valUSD>554092.14000000</valUSD>
        <pctVal>1.856222321292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nuance Communications, Inc.</name>
        <lei>AEMSOT3SS15TNMJCE605</lei>
        <title>NUANCE COMMUNICATIONS INC</title>
        <cusip>67020Y100</cusip>
        <identifiers>
          <isin value="US67020Y1001"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>815500.00000000</valUSD>
        <pctVal>2.731945093128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="79429.70000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEA Group Ag</name>
        <lei>549300PHUU0ZZWO8EO07</lei>
        <title>GEA GROUP AG</title>
        <cusip>D28304109</cusip>
        <identifiers>
          <isin value="DE0006602006"/>
        </identifiers>
        <balance>32062.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91726250"/>
        <valUSD>865810.76000000</valUSD>
        <pctVal>2.900487378736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yaskawa Electric Corp</name>
        <lei>3538003K39GR98R0CK58</lei>
        <title>Yaskawa Electric Corp</title>
        <cusip>J9690T102</cusip>
        <identifiers>
          <isin value="JP3932000007"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.07500000"/>
        <valUSD>733749.71000000</valUSD>
        <pctVal>2.458079607380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novanta Inc</name>
        <lei>549300NBPHPTUPTS8070</lei>
        <title>NOVANTA INC</title>
        <cusip>67000B104</cusip>
        <identifiers>
          <isin value="CA67000B1040"/>
        </identifiers>
        <balance>9945.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>812705.40000000</valUSD>
        <pctVal>2.722583114272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Globus Med Inc</name>
        <lei>5299003M2P4CIK0RF205</lei>
        <title>GLOBUS MEDICAL INC - A</title>
        <cusip>379577208</cusip>
        <identifiers>
          <isin value="US3795772082"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>766800.00000000</valUSD>
        <pctVal>2.568798893207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daifuku Co Ltd</name>
        <lei>N/A</lei>
        <title>Daifuku Co Ltd</title>
        <cusip>J08988107</cusip>
        <identifiers>
          <isin value="JP3497400006"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.07500000"/>
        <valUSD>773074.25000000</valUSD>
        <pctVal>2.589817785299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOH Young Technolo</name>
        <lei>N/A</lei>
        <title>Koh Young Technology Inc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7098460009"/>
        </identifiers>
        <balance>10800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.15000000"/>
        <valUSD>802675.25000000</valUSD>
        <pctVal>2.688981864638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rockwell Automation, Inc.</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>ROCKWELL AUTOMATION INC</title>
        <cusip>773903109</cusip>
        <identifiers>
          <isin value="US7739031091"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>824000.00000000</valUSD>
        <pctVal>2.760420302560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fbr Ltd</name>
        <lei>529900ZUK9S7KXJI3P48</lei>
        <title>FASTBRICK ROBOTICS LTD</title>
        <cusip>Q3R26D108</cusip>
        <identifiers>
          <isin value="AU000000FBR4"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.48268900"/>
        <valUSD>66770.58000000</valUSD>
        <pctVal>0.223683088162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Manhattan Associat</name>
        <lei>529900Q1GJP7KD52SW51</lei>
        <title>MANHATTAN ASSOCIATES INC</title>
        <cusip>562750109</cusip>
        <identifiers>
          <isin value="US5627501092"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>806700.00000000</valUSD>
        <pctVal>2.702464876304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Synopsys Inc</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>SYNOPSYS INC</title>
        <cusip>871607107</cusip>
        <identifiers>
          <isin value="US8716071076"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>960750.00000000</valUSD>
        <pctVal>3.218536171947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Mount Vernon Liquid Assets Portfolio, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2256973.50000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-28</ncom:dateSigned>
      <ncom:nameOfApplicant>MUTUAL FUND SERIES TRUST</ncom:nameOfApplicant>
      <ncom:signature>Erik Naviloff</ncom:signature>
      <ncom:signerName>Erik Naviloff</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
