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      <regLei>5493002ZGLQMLR4QMA96</regLei>
      <regStreet1>C/O GEMINI FUND SERVICES LLC</regStreet1>
      <regStreet2>4221 North 203rd Street, Suite 100</regStreet2>
      <regCity>ELKHORN</regCity>
      <regStateConditional regCountry="US" regState="US-NE"/>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIT Mtg Ln Tr</name>
        <lei>N/A</lei>
        <title>CITM 2007-1 1M3</title>
        <cusip>12559QAK8</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CIT Mtg Ln Tr</name>
        <lei>N/A</lei>
        <title>CITM 2007-1 2M3</title>
        <cusip>12559QAL6</cusip>
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          <isin value="US12559QAL68"/>
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        <balance>14454833.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10532922.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.81726100</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust 2007-2</name>
        <lei>N/A</lei>
        <title>CWL 2007-2 M1</title>
        <cusip>12668NAF4</cusip>
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          <isin value="US12668NAF42"/>
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        <balance>2653609.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2327028.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust 2007-BC2</name>
        <lei>N/A</lei>
        <title>CWL 2007-BC2 M1</title>
        <cusip>12669QAF6</cusip>
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          <isin value="US12669QAF63"/>
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        <balance>3696466.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1790161.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.40961800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carrington Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>CARR 2007-RFC1 M1</title>
        <cusip>144526AE0</cusip>
        <identifiers>
          <isin value="US144526AE05"/>
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        <balance>14439119.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10491387.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.11040500</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carrington Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>CARR 2006-FRE1 M1</title>
        <cusip>144538AE5</cusip>
        <identifiers>
          <isin value="US144538AE50"/>
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        <balance>45368500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32616453.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.34896700</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carrington Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>CARR 2006-NC4 M1</title>
        <cusip>14453MAF1</cusip>
        <identifiers>
          <isin value="US14453MAF14"/>
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        <balance>8905359.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5463586.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Centex Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>CXHE 2004-B M7</title>
        <cusip>152314KB5</cusip>
        <identifiers>
          <isin value="US152314KB54"/>
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        <balance>58268.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2758.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.65421800</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc.</name>
        <lei>N/A</lei>
        <title>CMLTI 2005-OPT1 M8</title>
        <cusip>17307GNY0</cusip>
        <identifiers>
          <isin value="US17307GNY07"/>
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        <balance>530292.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441920.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.84306500</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc.</name>
        <lei>N/A</lei>
        <title>CMLTI 2006-WMC1 M2</title>
        <cusip>17307GZ76</cusip>
        <identifiers>
          <isin value="US17307GZ764"/>
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        <balance>4703846.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3392295.15000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.81926800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc.</name>
        <lei>N/A</lei>
        <title>CMLTI 2007-AHL1 M2</title>
        <cusip>17311VAH2</cusip>
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          <isin value="US17311VAH24"/>
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        <balance>10941124.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10540057.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.10024400</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Suisse First Boston Mortgage Securities Corp.</name>
        <lei>N/A</lei>
        <title>CSFB 2001-HE22 M1</title>
        <cusip>22540VCT7</cusip>
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          <isin value="US22540VCT70"/>
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        <balance>1297538.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2066706.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.18105800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cwalt Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>CWALT 2006-OA22 A3</title>
        <cusip>23245PAC5</cusip>
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          <isin value="US23245PAC59"/>
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        <balance>1224398.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1029229.84000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.50062300</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Delta Funding Home Equity Loan Trust 1998-1</name>
        <lei>N/A</lei>
        <title>DELHE 1997-3 B1F</title>
        <cusip>24763LCD0</cusip>
        <identifiers>
          <isin value="US24763LCD01"/>
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        <balance>1378663.34000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Delta Funding Home Equity Loan Trust 1998-1</name>
        <lei>N/A</lei>
        <title>DELHE 1998-1 M1F</title>
        <cusip>24763LDE7</cusip>
        <identifiers>
          <isin value="US24763LDE74"/>
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        <balance>1188266.62980000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.17552200</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Delta Funding Home Equity Loan Trust 1998-1</name>
        <lei>N/A</lei>
        <title>DELHE 1999-1 B</title>
        <cusip>24763LFF2</cusip>
        <identifiers>
          <isin value="US24763LFF22"/>
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        <balance>810095.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>719875.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12605500</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Delta Funding Home Equity Loan Trust 1998-1</name>
        <lei>N/A</lei>
        <title>DELHE 1999-2 M1</title>
        <cusip>24763LFP0</cusip>
        <identifiers>
          <isin value="US24763LFP04"/>
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        <balance>1724000.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1421233.86000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75005000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMC Mortgage Loan Trust 2002-B</name>
        <lei>N/A</lei>
        <title>EMCM 2005-B M2</title>
        <cusip>268668EY2</cusip>
        <identifiers>
          <isin value="US268668EY28"/>
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        <balance>5666066.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5517059.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.62480900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First American Funds Inc.</name>
        <lei>549300J5J5SJCZ9IA369</lei>
        <title>FIRST AM-TR OB-X</title>
        <cusip>31846V328</cusip>
        <identifiers>
          <isin value="US31846V3289"/>
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        <balance>804636.38000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>804636.38000000</valUSD>
        <pctVal>0.331570842741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>1ST Franklin Ff9</name>
        <lei>N/A</lei>
        <title>FFML 2006-FF9 M1</title>
        <cusip>320276AG3</cusip>
        <identifiers>
          <isin value="US320276AG35"/>
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        <balance>8676638.19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6697953.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.48819600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Franklin Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>FFML 2006-FF7 M1</title>
        <cusip>320277AG1</cusip>
        <identifiers>
          <isin value="US320277AG18"/>
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        <balance>1688882.59000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1337270.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2017-2</name>
        <lei>N/A</lei>
        <title>SCRT 2018-3 BX</title>
        <cusip>35563PGW3</cusip>
        <identifiers>
          <isin value="US35563PGW32"/>
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        <balance>34930725.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12112236.22000000</valUSD>
        <pctVal>4.991154353405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.94126300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fremont Home Loan Trust 2006-3</name>
        <lei>N/A</lei>
        <title>FHLT 2004-3 M5</title>
        <cusip>35729PFQ8</cusip>
        <identifiers>
          <isin value="US35729PFQ81"/>
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        <balance>1975221.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1302822.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Corp</name>
        <lei>CU46ESEFJB81SUVBJO28</lei>
        <title>GSR 2005-7F 3A1</title>
        <cusip>362341MT3</cusip>
        <identifiers>
          <isin value="US362341MT39"/>
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        <balance>6988.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6961.13000000</valUSD>
        <pctVal>0.002868510295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.93375000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Corp</name>
        <lei>N/A</lei>
        <title>GSRPM 2004-1 B2</title>
        <cusip>36242DGM9</cusip>
        <identifiers>
          <isin value="US36242DGM92"/>
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        <balance>878874.61000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>821723.33000000</valUSD>
        <pctVal>0.338611954170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.03696700</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harborview Mtg Loan Trust</name>
        <lei>N/A</lei>
        <title>HVMLT 2006-12 2A2B</title>
        <cusip>41162DAG4</cusip>
        <identifiers>
          <isin value="US41162DAG43"/>
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        <balance>1131508.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1708207.26000000</valUSD>
        <pctVal>0.703910157249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.34480300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ixis Real Estate Capital Trust 2004-He4</name>
        <lei>N/A</lei>
        <title>IXIS 2005-HE2 M6</title>
        <cusip>45071KBP8</cusip>
        <identifiers>
          <isin value="US45071KBP84"/>
        </identifiers>
        <balance>1014139.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1292784.95000000</valUSD>
        <pctVal>0.532724850639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.10419500</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indymac Indx Mortgage Loan Trust 2004-Ar14</name>
        <lei>N/A</lei>
        <title>INDX 2004-AR6 6A2</title>
        <cusip>45660NY33</cusip>
        <identifiers>
          <isin value="US45660NY332"/>
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        <balance>18244.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17043.18000000</valUSD>
        <pctVal>0.007023074889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.63836300</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTR Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>MALT 2002-2 B3</title>
        <cusip>576434BH6</cusip>
        <identifiers>
          <isin value="US576434BH62"/>
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        <balance>260912.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2.61000000</valUSD>
        <pctVal>0.000001075516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mastr Specialized Loan Trust 2006-03</name>
        <lei>N/A</lei>
        <title>MASD 2005-3 M2</title>
        <cusip>576436CQ0</cusip>
        <identifiers>
          <isin value="US576436CQ01"/>
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        <balance>1462000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>930070.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.66115000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>MASTR Asset Backed Securities Trust</name>
        <lei>N/A</lei>
        <title>MABS 2004-HE1 M10</title>
        <cusip>57643LET9</cusip>
        <identifiers>
          <isin value="US57643LET98"/>
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        <balance>1497751.15000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1246956.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.59850600</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mastr Asset Backed Securities Trust 2007 He1</name>
        <lei>N/A</lei>
        <title>MABS 2007-HE1 M1</title>
        <cusip>576457AE5</cusip>
        <identifiers>
          <isin value="US576457AE50"/>
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        <balance>4835650.98000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3971692.78000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors, Inc.</name>
        <lei>N/A</lei>
        <title>MLMI 2003-A1 2A</title>
        <cusip>589929D88</cusip>
        <identifiers>
          <isin value="US589929D885"/>
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        <balance>12796.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12802.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.49852900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors, Inc.</name>
        <lei>N/A</lei>
        <title>MLMI 2003-A2 2A2</title>
        <cusip>589929M96</cusip>
        <identifiers>
          <isin value="US589929M969"/>
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        <balance>40184.16000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38622.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.16607600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors, Inc.</name>
        <lei>N/A</lei>
        <title>MLCC 2006-1 M1</title>
        <cusip>59020U4U6</cusip>
        <identifiers>
          <isin value="US59020U4U64"/>
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        <balance>2842396.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2129093.94000000</valUSD>
        <pctVal>0.877347196209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.51039400</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors, Inc.</name>
        <lei>N/A</lei>
        <title>MLCC 2005-A B2</title>
        <cusip>59020UTF2</cusip>
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          <isin value="US59020UTF20"/>
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        <balance>87218.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50678.57000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Metropolitan Asset</name>
        <lei>N/A</lei>
        <title>METRO 1998-AX B2</title>
        <cusip>591739AT4</cusip>
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          <isin value="US591739AT45"/>
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        <balance>263655.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238392.08000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>MCMLT 2018-3 B2</title>
        <cusip>59980XAL1</cusip>
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          <isin value="US59980XAL10"/>
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        <balance>4989363.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3768310.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000100</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>MCMLT 2018-3 B5</title>
        <cusip>59980XAP2</cusip>
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          <isin value="US59980XAP24"/>
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        <balance>3522490.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2007392.32000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.75575600</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>MCMLT 2018-3 B6</title>
        <cusip>59980XAQ0</cusip>
        <identifiers>
          <isin value="US59980XAQ07"/>
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        <balance>3131325.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1590651.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>MCMLT 2018-4 B5</title>
        <cusip>59980YAP0</cusip>
        <identifiers>
          <isin value="US59980YAP07"/>
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        <balance>7464279.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4053967.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.07592600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley ABS Capital I Inc</name>
        <lei>549300RLSHIMYD3FZB52</lei>
        <title>MSAC 2004-WMC3 M6</title>
        <cusip>61746RJQ5</cusip>
        <identifiers>
          <isin value="US61746RJQ56"/>
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        <balance>320443.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>407492.00000000</valUSD>
        <pctVal>0.167917421096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>MSM 2004-7AR 2A7</title>
        <cusip>61748HCL3</cusip>
        <identifiers>
          <isin value="US61748HCL33"/>
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        <balance>29726.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29392.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.78962400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley ABS Capital I Inc</name>
        <lei>549300RLSHIMYD3FZB52</lei>
        <title>MSAC 2007-HE6 M1</title>
        <cusip>61755CAE2</cusip>
        <identifiers>
          <isin value="US61755CAE21"/>
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        <balance>4818114.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5531435.15000000</valUSD>
        <pctVal>2.279368246130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nationstar Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>NSTR 2007-B M2</title>
        <cusip>63860LAG5</cusip>
        <identifiers>
          <isin value="US63860LAG59"/>
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        <balance>6953138.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7713290.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.40114400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Century Home Equity Loan Trust Series 2005-A</name>
        <lei>N/A</lei>
        <title>NCHET 2006-2 M1</title>
        <cusip>64360YAD7</cusip>
        <identifiers>
          <isin value="US64360YAD76"/>
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        <balance>3712375.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3049310.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nomura Asset Acceptance Corp Alternative Loan Trust Series 2004-Ap2</name>
        <lei>N/A</lei>
        <title>NAA 2003-A1 A2</title>
        <cusip>65535VAU2</cusip>
        <identifiers>
          <isin value="US65535VAU26"/>
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        <balance>3765.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3784.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.99999500</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nomura Asset Acceptance Corp Alternative Loan Trust Series 2004-Ap2</name>
        <lei>N/A</lei>
        <title>NAA 2003-A1 A5</title>
        <cusip>65535VAX6</cusip>
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          <isin value="US65535VAX64"/>
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        <balance>16174.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16199.18000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.99997600</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Novastar Mortgage Funding Trust Series 2005-1</name>
        <lei>N/A</lei>
        <title>NHEL 2003-1 M2</title>
        <cusip>66987XCG8</cusip>
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          <isin value="US66987XCG88"/>
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        <balance>3126335.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.33580400</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Option One Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>OOMLT 2007-CP1 M1</title>
        <cusip>68402YAE6</cusip>
        <identifiers>
          <isin value="US68402YAE68"/>
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        <balance>15383300.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14512721.26000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Park Place Securities Inc.</name>
        <lei>N/A</lei>
        <title>PPSI 2004-WHQ2 M7</title>
        <cusip>70069FEP8</cusip>
        <identifiers>
          <isin value="US70069FEP80"/>
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        <balance>3695149.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2420517.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.87139700</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Raac Ser 06-Rp2</name>
        <lei>N/A</lei>
        <title>RAAC 2006-RP2 M2</title>
        <cusip>74919MAC0</cusip>
        <identifiers>
          <isin value="US74919MAC01"/>
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        <balance>3771769.49000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3347661.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.68459100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAAC Series 2007-SP3 Trust</name>
        <lei>N/A</lei>
        <title>RAAC 2007-SP3 M1</title>
        <cusip>74978FAB5</cusip>
        <identifiers>
          <isin value="US74978FAB58"/>
        </identifiers>
        <balance>12269210.70000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8288827.23000000</valUSD>
        <pctVal>3.415621637673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.23819500</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rasc Ser 06-Emx1</name>
        <lei>N/A</lei>
        <title>RASC 2006-EMX1 M3</title>
        <cusip>75405KAF5</cusip>
        <identifiers>
          <isin value="US75405KAF57"/>
        </identifiers>
        <balance>2375389.42000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1663958.63000000</valUSD>
        <pctVal>0.685676386190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.13959000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renaissance Mortgage Acceptance Corp.</name>
        <lei>N/A</lei>
        <title>RAMC 2005-2 M2</title>
        <cusip>75970NAQ0</cusip>
        <identifiers>
          <isin value="US75970NAQ07"/>
        </identifiers>
        <balance>5414879.15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1146808.05000000</valUSD>
        <pctVal>0.472571363975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renaissance Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>RAMC 2003-2 M2F</title>
        <cusip>759950BA5</cusip>
        <identifiers>
          <isin value="US759950BA57"/>
        </identifiers>
        <balance>302274.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244328.45000000</valUSD>
        <pctVal>0.100681739088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.73508300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renaissance Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>RAMC 2005-1 M2</title>
        <cusip>759950FJ2</cusip>
        <identifiers>
          <isin value="US759950FJ21"/>
        </identifiers>
        <balance>5922915.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>556024.99000000</valUSD>
        <pctVal>0.229124209521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sasco Mortgage Loan Trust 2004 Gel3</name>
        <lei>N/A</lei>
        <title>SASC 2003-GEL1 M3</title>
        <cusip>80382UAF0</cusip>
        <identifiers>
          <isin value="US80382UAF03"/>
        </identifiers>
        <balance>93270.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87718.39000000</valUSD>
        <pctVal>0.036146588967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.42625200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saxon Asset Securities Trust 2004-2</name>
        <lei>N/A</lei>
        <title>SAST 2007-3 1M2</title>
        <cusip>80557BAH7</cusip>
        <identifiers>
          <isin value="US80557BAH78"/>
        </identifiers>
        <balance>4793155.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5064021.44000000</valUSD>
        <pctVal>2.086758563564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sequoia Mortgage Trust 2004 11</name>
        <lei>N/A</lei>
        <title>SEMT 2004-10 XA</title>
        <cusip>81744FEZ6</cusip>
        <identifiers>
          <isin value="US81744FEZ62"/>
        </identifiers>
        <balance>6453218.59000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64.53000000</valUSD>
        <pctVal>0.000026591224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soundview Home Loan Trust 2005-Opt1</name>
        <lei>N/A</lei>
        <title>SVHE 2005-OPT1 M5</title>
        <cusip>83611MDL9</cusip>
        <identifiers>
          <isin value="US83611MDL90"/>
        </identifiers>
        <balance>5321455.67000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4004655.08000000</valUSD>
        <pctVal>1.650219767298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soundview Home Loan Trust 2001-1</name>
        <lei>N/A</lei>
        <title>SVHE 2005-A M6</title>
        <cusip>83611PBA8</cusip>
        <identifiers>
          <isin value="US83611PBA84"/>
        </identifiers>
        <balance>305283.13000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309591.50000000</valUSD>
        <pctVal>0.127575035273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16072200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Investment Loan Trust 2006-Bnc3</name>
        <lei>N/A</lei>
        <title>SAIL 2005-HE3 M3</title>
        <cusip>86358EWZ5</cusip>
        <identifiers>
          <isin value="US86358EWZ59"/>
        </identifiers>
        <balance>2280749.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1691490.55000000</valUSD>
        <pctVal>0.697021612609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.43620100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>SAMI 2002-AR4 A2</title>
        <cusip>86358HQT9</cusip>
        <identifiers>
          <isin value="US86358HQT94"/>
        </identifiers>
        <balance>608103.01000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509452.77000000</valUSD>
        <pctVal>0.209932944227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.01515200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments II Trust 2007-Ar1</name>
        <lei>N/A</lei>
        <title>SAMI 2004-AR5 1A2</title>
        <cusip>86359LDY2</cusip>
        <identifiers>
          <isin value="US86359LDY20"/>
        </identifiers>
        <balance>90196.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78689.03000000</valUSD>
        <pctVal>0.032425812006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37740900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Towd Pt Mtg Tr 2018-5</name>
        <lei>N/A</lei>
        <title>TPMT 2018-5 B4</title>
        <cusip>89176VAH5</cusip>
        <identifiers>
          <isin value="US89176VAH50"/>
        </identifiers>
        <balance>2323000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1446799.48000000</valUSD>
        <pctVal>0.596190446747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.49404500</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truman Capital Securitization Llc</name>
        <lei>N/A</lei>
        <title>TRUMN 2005-1 M3</title>
        <cusip>897896BG0</cusip>
        <identifiers>
          <isin value="US897896BG07"/>
        </identifiers>
        <balance>757000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>691552.13000000</valUSD>
        <pctVal>0.284971607353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.53938300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Washington Mutual Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>WAMU 2002-AR17 2B1</title>
        <cusip>929227XG6</cusip>
        <identifiers>
          <isin value="US929227XG69"/>
        </identifiers>
        <balance>92531.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85524.30000000</valUSD>
        <pctVal>0.035242458495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Washington Mutual Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>WAMU 2003-AR10 B2</title>
        <cusip>92922FED6</cusip>
        <identifiers>
          <isin value="US92922FED69"/>
        </identifiers>
        <balance>335145.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249403.68000000</valUSD>
        <pctVal>0.102773116423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00010100</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>2025-04-28</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>
