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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.52000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AN2852</title>
        <cusip>3138LFE20</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1065916.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.27000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal Agricultural Mortgage Corporation</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FAMCA 3 02/23/27</title>
        <cusip>3132X0PY1</cusip>
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          <isin value="US3132X0PY16"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>286217.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>OKE 4 1/4 02/01/22</title>
        <cusip>682680AQ6</cusip>
        <identifiers>
          <isin value="US682680AQ69"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>413778.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Farm Credit Banks</name>
        <lei>N/A</lei>
        <title>FFCB 1.55 01/10/23</title>
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          <isin value="US3133ELGU27"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1031977.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.55000000</annualizedRt>
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      <invstOrSec>
        <name>OREGON ST</name>
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        <title>ORS 0.895 05/01/2025</title>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300981.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.89500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Waste Management, Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WM 3 1/8 03/01/25</title>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>710263.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AN2217</title>
        <cusip>3138LEPB1</cusip>
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          <isin value="US3138LEPB16"/>
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        <balance>984410.13910000</balance>
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        <curCd>USD</curCd>
        <valUSD>1063033.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.71000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BM1797</title>
        <cusip>3140J57K9</cusip>
        <identifiers>
          <isin value="US3140J57K95"/>
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        <balance>1267068.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1307724.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.60400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Pc Prepay Prm 30</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4280 AC</title>
        <cusip>3137B6HG9</cusip>
        <identifiers>
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        <balance>55220.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56849.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNR 2012-47 VA</title>
        <cusip>38375CNZ9</cusip>
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          <isin value="US38375CNZ94"/>
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        <balance>92578.36000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BA3805</title>
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        <curCd>USD</curCd>
        <valUSD>157994.88000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FH 407172</title>
        <cusip>31288W6H5</cusip>
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        <balance>9307.65000000</balance>
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        <valUSD>9334.39000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AU</title>
        <cusip>13048VQA9</cusip>
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        <curCd>USD</curCd>
        <valUSD>575845.25000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.48600000</annualizedRt>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>CCI 1.35 07/15/25</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Lowes Companies, Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOW 3.12 04/15/22</title>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4447 PA</title>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 81727</title>
        <cusip>36225D4M3</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Federal Farm Credit Banks</name>
        <lei>N/A</lei>
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        <name>Government National Mortgage Association</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Nvidia Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Old Republic International Corporation</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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        <name>MASSACHUSETTS ST HSG FIN AGY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Regions Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Apple Inc.</name>
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        <title>AAPL 2.85 02/23/23</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>ARE 3.8 04/15/26</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN 745776</title>
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          <isin value="US31403DQ512"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 8395</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NEXTERA ENERGY CAPITAL HLDGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Intercontinental Exchange Inc</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>American Tower Corporation</name>
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        <name>Federal National Mortgage Association</name>
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        <title>FN AN7560</title>
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        <name>CMS Energy Corporation</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>NetApp Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Stifel Financial Corporation</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN 462285</title>
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        <name>Federal Farm Credit Banks</name>
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        <name>Kansas City Southern</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Fnma Pass-Thru I</name>
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        <name>SVB Financial Group</name>
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        <name>OReilly Automotive, Inc.</name>
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        <name>Primerica, Inc.</name>
        <lei>254900621R686KJR7022</lei>
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      <invstOrSec>
        <name>OREGON ST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 8567</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN 888386</title>
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        <name>Florida Power &amp; Light Company</name>
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        <title>NEE 3 1/8 12/01/25</title>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <title>FR SB8048</title>
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        <name>Federal Agricultural Mortgage Corporation</name>
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        <name>Federal Agricultural Mortgage Corporation</name>
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        <name>Federal Agricultural Mortgage Corporation</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal Agricultural Mortgage Corporation</name>
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        <name>Federal Farm Credit Banks</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <name>HAT Holdings I LLC and HAT Holdings II LLC</name>
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        <name>Federal Agricultural Mortgage Corporation</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Agricultural Mortgage Corporation</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNS 416 A300</title>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <title>FN MA2643</title>
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        <name>Government National Mortgage Association</name>
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        <title>G2 8565</title>
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        <name>Federal Home Loan Mortgage Corporation</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FH 841045</title>
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        <name>Roper Technologies Inc</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Kimco Realty Corporation</name>
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        <name>Celgene Corporation</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>J. B. Hunt Transport Services, Inc.</name>
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        <name>Digital Realty Trust, L.P.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>CMS Energy Corporation</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US BANK MMDA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Micron Technology Inc.</name>
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        <balance>700000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-06</maturityDt>
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          <annualizedRt>4.64000000</annualizedRt>
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      <invstOrSec>
        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
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        <balance>400000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-01</maturityDt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2013-41 AE</title>
        <cusip>3136ADP94</cusip>
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        <name>Eaton Vance Corp</name>
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          <maturityDt>2027-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ST HSG FIN AGY</name>
        <lei>5493000LS7KCDB02O506</lei>
        <title>NEW YORK ST HSG FIN A</title>
        <cusip>64987DU77</cusip>
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        <balance>250000.00000000</balance>
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        <valUSD>253735.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>Legg Mason Inc</name>
        <lei>OWUNCC6U1ZJXMZKFBJ36</lei>
        <title>LM 4 3/4 03/15/26</title>
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        <balance>200000.00000000</balance>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 8421</title>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AN5557</title>
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        <name>Boston Properties Limited Partnership</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2012-112 DA</title>
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        <name>Prologis, L.P.</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 8375</title>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GN 460203</title>
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        <name>Huntington Bancshares Incorporated</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 8410</title>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aflac Incorporated</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>AFL 2 7/8 10/15/26</title>
        <cusip>001055AQ5</cusip>
        <identifiers>
          <isin value="US001055AQ51"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>706921.65000000</valUSD>
        <pctVal>0.885161408199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-07-28</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>
