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      <invstOrSec>
        <name>Residential Funding Mtg Sec I</name>
        <lei>N/A</lei>
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        <cusip>76111XTB9</cusip>
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          <isin value="US76111XTB90"/>
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        <curCd>USD</curCd>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Stonepeak</name>
        <lei>N/A</lei>
        <title>Stonepeak 2021-1 ABS</title>
        <cusip>78433XAE0</cusip>
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          <isin value="US78433XAE04"/>
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        <balance>1201071.000000000000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STAR 2022-SFR3 Trust</name>
        <lei>N/A</lei>
        <title>STAR 2022-SFR3 Trust</title>
        <cusip>78474PAN7</cusip>
        <identifiers>
          <isin value="US78474PAN78"/>
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        <balance>2020000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1964858.040000000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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          <maturityDt>2024-05-17</maturityDt>
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      <invstOrSec>
        <name>SKYAF III E (Westjet)</name>
        <lei>N/A</lei>
        <title>SKYAF III E (Westjet)</title>
        <cusip>830849105</cusip>
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          <other otherDesc="USER DEFINED" value="830849105"/>
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        <balance>1050000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>966000.000000000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MASTR Asset Securitization Tru</name>
        <lei>N/A</lei>
        <title>MASTR Asset Securitization Trust 2006-1</title>
        <cusip>57643MLZ5</cusip>
        <identifiers>
          <isin value="US57643MLZ58"/>
          <ticker value="MASTR"/>
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        <balance>28175.000000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <debtSec>
          <maturityDt>2036-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300MYVO80EQUJK294</lei>
        <title>Neuberger Berman Loan Advisers CLO 35 Ltd</title>
        <cusip>64133CAE9</cusip>
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          <isin value="US64133CAE93"/>
          <ticker value="NEUB"/>
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        <balance>5000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>782690.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.640000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
        <cusip>64828T508</cusip>
        <identifiers>
          <isin value="US64828T5083"/>
          <ticker value="RITM"/>
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        <balance>7054.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133461.680000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OFSI Fund LTD</name>
        <lei>N/A</lei>
        <title>OFSI Fund IX Ltd</title>
        <cusip>67112NAC7</cusip>
        <identifiers>
          <isin value="US67112NAC74"/>
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        <balance>1400000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371000.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2118-07-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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      <invstOrSec>
        <name>Peaks CLO Ltd</name>
        <lei>549300BU7U9SZMLBY924</lei>
        <title>Peaks CLO 2 Ltd</title>
        <cusip>70469YAG7</cusip>
        <identifiers>
          <isin value="US70469YAG70"/>
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        <balance>1000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>723011.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.817100000000</annualizedRt>
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      <invstOrSec>
        <name>Prime Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Prime Mortgage Trust 2003-3</title>
        <cusip>74160MDA7</cusip>
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          <isin value="US74160MDA71"/>
          <ticker value="PRIME"/>
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        <balance>31471.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17938.300000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2034-01-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Residential Asset Securitizati</name>
        <lei>N/A</lei>
        <title>Residential Asset Securitization Trust 2003-A15</title>
        <cusip>45660NXK6</cusip>
        <identifiers>
          <isin value="US45660NXK61"/>
          <ticker value="RAST"/>
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        <balance>384144.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>293216.870000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Tru</name>
        <lei>N/A</lei>
        <title>IndyMac INDX Mortgage Loan Trust 2006-AR25</title>
        <cusip>45661HAC1</cusip>
        <identifiers>
          <isin value="US45661HAC16"/>
          <ticker value="INDX"/>
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        <balance>59532.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53592.290000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.870000000000</annualizedRt>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2006-A1</title>
        <cusip>466247E41</cusip>
        <identifiers>
          <isin value="US466247E417"/>
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        <balance>26348.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19703.390000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.790000000000</annualizedRt>
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      <invstOrSec>
        <name>Legacy Mortgage Asset Trust</name>
        <lei>N/A</lei>
        <title>Legacy Mortgage Asset Trust 2017-RPL1</title>
        <cusip>52472WAB5</cusip>
        <identifiers>
          <isin value="US52472WAB54"/>
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        <balance>1687299.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1560821.110000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-01-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.360000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LoanCore 2018-CRE1 Issuer, Ltd</name>
        <lei>N/A</lei>
        <title>LoanCore 2018-CRE1 Issuer Ltd</title>
        <cusip>53946MAJ6</cusip>
        <identifiers>
          <isin value="US53946MAJ62"/>
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        <balance>1500000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1501684.500000000000</valUSD>
        <pctVal>5.5822011172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc</title>
        <cusip>55272X508</cusip>
        <identifiers>
          <isin value="US55272X5086"/>
          <ticker value="MFA"/>
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        <balance>11334.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193131.360000000000</valUSD>
        <pctVal>0.7179258317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac Stacr Remic Trust 2020-HQA2</title>
        <cusip>35565LBE5</cusip>
        <identifiers>
          <isin value="US35565LBE56"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>960000.000000000000</valUSD>
        <pctVal>3.5686011759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.445290000000</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>Greywolf CLO Ltd</name>
        <lei>5493008JNE27URH1VF66</lei>
        <title>Greywolf CLO IV Ltd</title>
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        <lei>N/A</lei>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <ticker value="HVMLT"/>
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      <invstOrSec>
        <name>Diamond CLO 2019-1 LLC</name>
        <lei>N/A</lei>
        <title>Diamond CLO 2019-1 LTD</title>
        <cusip>25257BAA0</cusip>
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          <isin value="US25257BAA08"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Elmwood CLO I Ltd.</name>
        <lei>N/A</lei>
        <title>Elmwood CLO I Ltd</title>
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          <isin value="US29001QAC42"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2033-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>First Horizon Alternative Mort</name>
        <lei>N/A</lei>
        <title>First Horizon Alternative Mortgage Securities Trust 2004-AA3</title>
        <cusip>32051D6F4</cusip>
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          <isin value="US32051D6F49"/>
          <ticker value="FHAMS"/>
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        <balance>117251.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95240.420000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300KB1O80CETXGJ21</lei>
        <title>Freddie Mac STACR Trust 2019-DNA3</title>
        <cusip>35564TBE9</cusip>
        <identifiers>
          <isin value="US35564TBE91"/>
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        <balance>500000.000000000000</balance>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.990000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR 2019-HQA3</title>
        <cusip>35564XBE0</cusip>
        <identifiers>
          <isin value="US35564XBE04"/>
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        <balance>800000.000000000000</balance>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493003FQV7GR462GO02</lei>
        <title>Freddie Mac Stacr Remic Trust 2020-DNA1</title>
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          <isin value="US35565HBE45"/>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2002-19</title>
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          <isin value="US12669DBA54"/>
          <ticker value="CWHL"/>
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        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2003-53</title>
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        <name>Countrywide Home Loans</name>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2004-18</title>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2022-R04</title>
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      <invstOrSec>
        <name>Deutsche Mortgage Securities,</name>
        <lei>N/A</lei>
        <title>Deutsche Mortgage Securities Inc Mortgage Loan Trust 2004-4</title>
        <cusip>251563FD9</cusip>
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          <isin value="US251563FD99"/>
          <ticker value="DMSI"/>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Bluemountain CLO Ltd</name>
        <lei>N/A</lei>
        <title>BlueMountain CLO 2018-2 Ltd</title>
        <cusip>09629WAE1</cusip>
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      <invstOrSec>
        <name>CHCP 2021-FL1 Ltd.</name>
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        <title>CHCP 2021-FL1 Ltd</title>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
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          <isin value="US12668AMJ15"/>
          <ticker value="CWALT"/>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
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          <isin value="US12668EAD94"/>
          <ticker value="CWALT"/>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2036-09-25</maturityDt>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2006-J2</title>
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          <isin value="US126694G938"/>
          <ticker value="CWHL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2005-28</title>
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          <isin value="US126694PN26"/>
          <ticker value="CWHL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
          <maturityDt>2023-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AIR CANADA 2013-1A PTT</name>
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          <isin value="US009089AA11"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Allegro CLO Ltd</name>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>ANNALY CAPITAL MGMT</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
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          <ticker value="NLY"/>
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        <assetCat>EP</assetCat>
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      <invstOrSec>
        <name>Bear Stearns Alt-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust 2005-10</title>
        <cusip>07386HZM6</cusip>
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          <isin value="US07386HZM68"/>
          <ticker value="BALTA"/>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bear Stearns Mortgage Funding</name>
        <lei>N/A</lei>
        <title>Bear Stearns Mortgage Funding Trust 2007-AR1</title>
        <cusip>07401MAG6</cusip>
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          <isin value="US07401MAG69"/>
          <ticker value="BSMF"/>
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        <name>Blackbird Capital Aircraft</name>
        <lei>N/A</lei>
        <title>Blackbird Capital Aircraft</title>
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        <name>USD REPO</name>
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              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
        </identifiers>
        <balance>-512000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-512000</valUSD>
        <pctVal>-1.9032539605</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>6.71</repurchaseRt>
          <maturityDt>2023-05-30</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-512000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>910701</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
        </identifiers>
        <balance>-575000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-575000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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            <repurchaseCollateral>
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              <principalCd>USD</principalCd>
              <collateralVal>960000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1033000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-1033000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1560821.11</collateralVal>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
        </identifiers>
        <balance>-410000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-410000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-410000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>665040.75</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1473000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1473000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-1473000</principalAmt>
              <principalCd>USD</principalCd>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
        </identifiers>
        <balance>-809000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-809000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1199420.3</collateralVal>
              <collateralCd>USD</collateralCd>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-823000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="LUCID MANAGEMENT AND CAPITAL PARTNERS LP" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.98354</repurchaseRt>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-713000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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            <repurchaseCollateral>
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              <collateralCd>USD</collateralCd>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1146000</balance>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="LUCID MANAGEMENT AND CAPITAL PARTNERS LP" isCleared="Y"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-572000</balance>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1854000</balance>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-566000</balance>
        <units>OU</units>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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            <repurchaseCollateral>
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          </repurchaseCollaterals>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
        </identifiers>
        <balance>-524000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-524000</valUSD>
        <pctVal>-1.9478614752</pctVal>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <maturityDt>2023-06-07</maturityDt>
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            <repurchaseCollateral>
              <principalAmt>-524000</principalAmt>
              <principalCd>USD</principalCd>
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              <collateralCd>USD</collateralCd>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Ellington Income Opportunities Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Christopher Moran</ncom:signature>
      <ncom:signerName>Christopher Moran</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
