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          <maturityDt>2041-12-25</maturityDt>
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          <annualizedRt>10.837430000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2022-R04</title>
        <cusip>20753YAL6</cusip>
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          <isin value="US20753YAL65"/>
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        <balance>1080000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1209600.000000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.840000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ISUYHCRLRBE46</lei>
        <title>Freddie Mac STACR REMIC Trust 2021-DNA3</title>
        <cusip>35564KFH7</cusip>
        <identifiers>
          <isin value="US35564KFH77"/>
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        <balance>1000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1080000.000000000000</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>2033-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.587430000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ITBJ4KEFYWF83</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>
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        <curCd>USD</curCd>
        <valUSD>1111297.000000000000</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>2050-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.051910000000</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>Freddie Mac - STACR</name>
        <lei>5493003FQV7GR462GO02</lei>
        <title>Freddie Mac Stacr Remic Trust 2020-DNA1</title>
        <cusip>35565HBE4</cusip>
        <identifiers>
          <isin value="US35565HBE45"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1033750.000000000000</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>2050-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.701910000000</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>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>563750.000000000000</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>2049-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.600000000000</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>Greywolf CLO Ltd</name>
        <lei>5493008JNE27URH1VF66</lei>
        <title>Greywolf CLO IV Ltd</title>
        <cusip>39810JAL0</cusip>
        <identifiers>
          <isin value="US39810JAL08"/>
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        <balance>1250000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>587500.000000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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 Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>HarborView Mortgage Loan Trust 2004-9</title>
        <cusip>41161PHS5</cusip>
        <identifiers>
          <isin value="US41161PHS56"/>
          <ticker value="HVMLT"/>
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        <balance>5879.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5080.260000000000</valUSD>
        <pctVal>0.0188832908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.060000000000</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 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>58056.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52266.920000000000</valUSD>
        <pctVal>0.1942757750</pctVal>
        <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>3.180000000000</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>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>23778.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17614.110000000000</valUSD>
        <pctVal>0.0654715233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.770000000000</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>Venture CDO Ltd</name>
        <lei>549300MYRV6PEDBLPL32</lei>
        <title>Venture 34 CLO Ltd</title>
        <cusip>92332EAB1</cusip>
        <identifiers>
          <isin value="US92332EAB11"/>
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        <balance>470000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117500.000000000000</valUSD>
        <pctVal>0.4367466759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>Venture CDO Ltd</name>
        <lei>549300UP09C89Q3HWD39</lei>
        <title>Venture 32 CLO Ltd</title>
        <cusip>92325RAE5</cusip>
        <identifiers>
          <isin value="US92325RAE53"/>
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        <balance>600000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96120.600000000000</valUSD>
        <pctVal>0.3572795960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>Vibrant CLO Ltd</name>
        <lei>5493007UH0SOAZ6NCZ28</lei>
        <title>Vibrant ClO VIII Ltd</title>
        <cusip>92557RAC8</cusip>
        <identifiers>
          <isin value="US92557RAC88"/>
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        <balance>1200000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54000.000000000000</valUSD>
        <pctVal>0.2007176213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>Voya CLO Ltd</name>
        <lei>N/A</lei>
        <title>Voya CLO 2018-1 Ltd</title>
        <cusip>92917BAC8</cusip>
        <identifiers>
          <isin value="US92917BAC81"/>
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        <balance>1100000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231000.000000000000</valUSD>
        <pctVal>0.8586253798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>Zais CLO 6 LTD</name>
        <lei>549300ZPQFDVEE67IB71</lei>
        <title>Zais Clo 6 Ltd</title>
        <cusip>98887UAA3</cusip>
        <identifiers>
          <isin value="US98887UAA34"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>704808.000000000000</valUSD>
        <pctVal>2.6197663926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.655480000000</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>AASET 2021-1 Trust</name>
        <lei>N/A</lei>
        <title>Aaset 2021-1 Trust</title>
        <cusip>00038PAC4</cusip>
        <identifiers>
          <isin value="US00038PAC41"/>
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        <balance>1743756.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1304149.700000000000</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>2041-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.822000000000</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>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC Investment Corp</title>
        <cusip>00123Q872</cusip>
        <identifiers>
          <isin value="US00123Q8722"/>
          <ticker value="AGNC"/>
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        <balance>49521.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1077576.960000000000</valUSD>
        <pctVal>4.0053460023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Allegro CLO Ltd</name>
        <lei>635400EBXLHIKFL2MP73</lei>
        <title>Allegro CLO VII Ltd</title>
        <cusip>01750DAC5</cusip>
        <identifiers>
          <isin value="US01750DAC56"/>
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        <balance>2100000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493500.000000000000</valUSD>
        <pctVal>1.8343360387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR 2020-SFR1 Trust</title>
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        <name>OFSI Fund LTD</name>
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        <name>Raistone - First Brands Supply Chain Finance Program 04/03/2024</name>
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        <name>Raptor Aircraft Finance LLC</name>
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        <name>SKYAF III E (Westjet)</name>
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        <name>SOLRR Aircraft 2021-1 Limited</name>
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        <title>Lunar 2021-1 Structured Aircraft Portfolio Notes</title>
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        <name>STAR 2022-SFR3 Trust</name>
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        <name>Stonepeak</name>
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        <name>Structured Asset Securities Co</name>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TPG Real Estate Finance</name>
        <lei>N/A</lei>
        <title>TRTX 2021-FL4 Issuer Ltd</title>
        <cusip>87276WAJ2</cusip>
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          <isin value="US87276WAJ27"/>
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        <balance>2500000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2263477.500000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.076290000000</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>Tralee CLO Ltd</name>
        <lei>54930005YIOSJ9Z81114</lei>
        <title>Tralee CLO V Ltd</title>
        <cusip>89300GAA2</cusip>
        <identifiers>
          <isin value="US89300GAA22"/>
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        <balance>800000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312000.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>Tralee CLO Ltd</name>
        <lei>54930005YIOSJ9Z81114</lei>
        <title>Tralee CLO V Ltd</title>
        <cusip>89300GAE4</cusip>
        <identifiers>
          <isin value="US89300GAE44"/>
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        <balance>50000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37277.800000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.567430000000</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>Venture CDO Ltd</name>
        <lei>549300A6M3BR8FZNXO79</lei>
        <title>Venture Xxv Clo Ltd</title>
        <cusip>92329UAA2</cusip>
        <identifiers>
          <isin value="US92329UAA25"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>885261.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.877430000000</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>
        <name>Venture CDO Ltd</name>
        <lei>549300EDZDHKTKE7JV77</lei>
        <title>Venture XXIV CLO Ltd</title>
        <cusip>92330RAC2</cusip>
        <identifiers>
          <isin value="US92330RAC25"/>
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        <balance>1100000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49500.000000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</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>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>-1466000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1466000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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            <repurchaseCollateral>
              <principalAmt>-1466000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-1466000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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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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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-787000</balance>
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        <descOthUnits>Private Investment</descOthUnits>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="LUCID MANAGEMENT AND CAPITAL PARTNERS LP" isCleared="Y"/>
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            <repurchaseCollateral>
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              <collateralVal>-787000</collateralVal>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-754000</balance>
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        <descOthUnits>Private Investment</descOthUnits>
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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"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1717000</balance>
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        <descOthUnits>Private Investment</descOthUnits>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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              <collateralVal>-1717000</collateralVal>
              <collateralCd>USD</collateralCd>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
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        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <invCountry>US</invCountry>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <transCat>Reverse repurchase</transCat>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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        <securityLending>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-02-21</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>
</edgarSubmission>
