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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Kala Pharmaceuticals Inc</name>
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      <invstOrSec>
        <name>908 Devices Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="DICESRC"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Entasis Therapeutics Hldgs Inc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Xencor Inc</name>
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      <invstOrSec>
        <name>Karuna Therapeutics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kalvista Pharmaceuticals Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXACT SCIENCES CORPORATION</name>
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        <title>EXACT SCIENCES</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Argenx SE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Fidelity Institutional Cash Portfolios</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Magenta Therapeutics Inc</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Immatics N.V</name>
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        <name>Fennec Pharmaceuticals Inc</name>
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        <name>Chiasma Incorporation</name>
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        <name>ORIC Pharmaceuticals Inc</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Immunovant Inc</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
        <lei>549300RCBFWIRX3HYQ56</lei>
        <title>REGENERON PHARM</title>
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        <name>Xenon Pharmaceuticals Inc</name>
        <lei>549300XV44Q9Z1MIPQ03</lei>
        <title>XENON PHARMACEUT</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Chemocentryx Inc</name>
        <lei>529900YTTXUSFQTAKY40</lei>
        <title>CHEMOCENTRYX INC</title>
        <cusip>16383L106</cusip>
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        <balance>387000.00000000</balance>
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      <invstOrSec>
        <name>N/A</name>
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        <name>Collegium Pharmaceutical Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BETA BIONIC SERIES B</name>
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          <other otherDesc="Internal ID" value="1567927D"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <name>Freeline Therapeutics Holdings plc</name>
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        <name>US BANK MMDA</name>
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      <invstOrSec>
        <name>Acceleron Pharma Inc</name>
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        <name>Celldex Therapeuti</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Zentalis Pharmaceuticals Inc</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eidos Therapeutics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Trillium Therapeutics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PRAXIS PRECISION MEDICINES, INC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Nurix Therapeutics Inc</name>
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        <name>Avrobio Inc.</name>
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        <name>Allakos Inc</name>
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        <name>Annexon Inc</name>
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        <name>Praxis Precision Medicines Inc</name>
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        <name>N/A</name>
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        <name>Deciphera Pharmaceuticals Inc</name>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neurocrine Biosciences Inc</name>
        <lei>549300FECER0XBN49756</lei>
        <title>NEUROCRINE BIOSC</title>
        <cusip>64125C109</cusip>
        <identifiers>
          <isin value="US64125C1099"/>
        </identifiers>
        <balance>353000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33835050.00000000</valUSD>
        <pctVal>1.492355108074</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>PELOTON THERAPEU</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="9868329Z"/>
        </identifiers>
        <balance>1528871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1314523.29000000</valUSD>
        <pctVal>0.057979389612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="preferred stock" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Essa Pharma Incorporation</name>
        <lei>N/A</lei>
        <title>ESSA PHARMA INC</title>
        <cusip>29668H708</cusip>
        <identifiers>
          <isin value="CA29668H7085"/>
        </identifiers>
        <balance>1716522.30000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19454205.49000000</valUSD>
        <pctVal>0.858062362447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GOLDFINCH BIOPHARMA INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="1475580D"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5600000.00000000</valUSD>
        <pctVal>0.246997968237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="preferred stock" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Blueprint Medicines Corporation</name>
        <lei>5299004CC60O9T5HVM83</lei>
        <title>BLUEPRINT MEDICI</title>
        <cusip>09627Y109</cusip>
        <identifiers>
          <isin value="US09627Y1091"/>
        </identifiers>
        <balance>462000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51813300.00000000</valUSD>
        <pctVal>2.285317826371</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>Biohaven Pharmaceutical Holding Company Limited</name>
        <lei>5299007STZTNN32O9920</lei>
        <title>BIOHAVEN PHARMAC</title>
        <cusip>G11196105</cusip>
        <identifiers>
          <isin value="VGG111961055"/>
        </identifiers>
        <balance>1181761.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101288735.31000000</valUSD>
        <pctVal>4.467519969093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Well Corporation</name>
        <lei>N/A</lei>
        <title>AMERICAN WELL -A</title>
        <cusip>03044L105</cusip>
        <identifiers>
          <isin value="US03044L1052"/>
        </identifiers>
        <balance>110091.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2788605.03000000</valUSD>
        <pctVal>0.122996388683</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>Mirati Therapeutics Inc</name>
        <lei>529900GYRW59IDQV6N54</lei>
        <title>MIRATI THERAPEUT</title>
        <cusip>60468T105</cusip>
        <identifiers>
          <isin value="US60468T1051"/>
        </identifiers>
        <balance>129471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28437010.44000000</valUSD>
        <pctVal>1.254264964541</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>Repligen Corporation</name>
        <lei>54930006QJ0T5AUO1E71</lei>
        <title>REPLIGEN CORP</title>
        <cusip>759916109</cusip>
        <identifiers>
          <isin value="US7599161095"/>
        </identifiers>
        <balance>119000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22803970.00000000</valUSD>
        <pctVal>1.005809688883</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>Syndax Pharmaceuticals Inc</name>
        <lei>529900OF94TRHKZVBS87</lei>
        <title>SYNDAX PHARMACEU</title>
        <cusip>87164F105</cusip>
        <identifiers>
          <isin value="US87164F1057"/>
        </identifiers>
        <balance>1946000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43279040.00000000</valUSD>
        <pctVal>1.908899097727</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>Aptose Biosciences Inc</name>
        <lei>5299003EUHV3CD08L949</lei>
        <title>APTOSE BIOSCIENC</title>
        <cusip>03835T200</cusip>
        <identifiers>
          <isin value="CA03835T2002"/>
        </identifiers>
        <balance>2299000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10069620.00000000</valUSD>
        <pctVal>0.444138514450</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>N/A</name>
        <lei>N/A</lei>
        <title>TALARIS THERAPEUTICS SRSB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="1711294D"/>
        </identifiers>
        <balance>3804347.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6649998.56000000</valUSD>
        <pctVal>0.293310023768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="preferred stock" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Longview Acquisition Corp</name>
        <lei>N/A</lei>
        <title>LONGVIEW ACQUI-A</title>
        <cusip>543195101</cusip>
        <identifiers>
          <isin value="US5431951012"/>
        </identifiers>
        <balance>1118000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22125220.00000000</valUSD>
        <pctVal>0.975872211930</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>Adc Therapeutics Sa</name>
        <lei>N/A</lei>
        <title>ADC THERAPEUTICS SA</title>
        <cusip>H0036K147</cusip>
        <identifiers>
          <isin value="CH0499880968"/>
        </identifiers>
        <balance>1075000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34410750.00000000</valUSD>
        <pctVal>1.517747381344</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>Sotera Health Company</name>
        <lei>N/A</lei>
        <title>SOTERA HEALTH CO</title>
        <cusip>83601L102</cusip>
        <identifiers>
          <isin value="US83601L1026"/>
        </identifiers>
        <balance>870000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23872800.00000000</valUSD>
        <pctVal>1.052952338596</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>89Bio Incorporation</name>
        <lei>N/A</lei>
        <title>89BIO INC</title>
        <cusip>282559103</cusip>
        <identifiers>
          <isin value="US2825591033"/>
        </identifiers>
        <balance>869000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21177530.00000000</valUSD>
        <pctVal>0.934072657551</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>
    </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>
