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                    <othIndValue>-1453.86000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                    </identifiers>
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                    <othIndValue>5592.39000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
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                    <identifiers>
                      <ticker value="LAM21 Comdty"/>
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                    <othIndValue>-2145.07000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                    <identifiers>
                      <ticker value="RXH1 Comdty"/>
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                    <othIndValue>0.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
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                    <othIndValue>-6243.07000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>NYMEX Heating Oil Apr21</othIndName>
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                      <ticker value="HOJ1 Comdty"/>
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                    <othIndNotAmt>23272.07000000</othIndNotAmt>
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                    <othIndValue>1601.16000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
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                      <ticker value="GCM1 Comdty"/>
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                    <othIndValue>11498.33000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                    <othIndValue>-224358.30000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
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                    <othIndValue>-1579.13000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
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                    <othIndValue>2012.76000000</othIndValue>
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                    <othIndValue>-223765.91000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                    <othIndValue>6327.72000000</othIndValue>
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                    <othIndValue>-7303.08000000</othIndValue>
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                  <component>
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                    <othIndValue>5213.14000000</othIndValue>
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                    <othIndValue>4518.04000000</othIndValue>
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                    <othIndValue>-11474.80000000</othIndValue>
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                    <othIndValue>23599.90000000</othIndValue>
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                    <othIndValue>-5068.24000000</othIndValue>
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        <valUSD>50055.62000000</valUSD>
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        <title>TWO 6 1/4 01/15/22</title>
        <cusip>90187BAA9</cusip>
        <identifiers>
          <isin value="US90187BAA98"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125312.50000000</valUSD>
        <pctVal>4.440751833664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Two Harbors Investment Corp.</name>
              <title>Two Harbors Investment Corp. COM NEW</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="90187B408"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="61.18510000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </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>2021-01-28</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>
