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        <name>Freddie Mac - STACR</name>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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        <name>Fortress Credit BSL Limited</name>
        <lei>254900I65EXTP3Y16W49</lei>
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        <invCountry>JE</invCountry>
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        <debtSec>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2022-R01</title>
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          <isin value="US20754LAJ89"/>
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      <invstOrSec>
        <name>Crown Point CLO Ltd</name>
        <lei>N/A</lei>
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        <assetCat>ABS-CBDO</assetCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2021-R03</title>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2003-49</title>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-J5</title>
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          <ticker value="CWALT"/>
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        <name>CENTURYLINK INC TERM B 1L GTD SR. SECD</name>
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      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>N/A</lei>
        <title>CARLYLE US CLO 2019-1 LTD</title>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
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        <name>AVENTIV TECHNOLOGIES LLC SECOND OUT TL</name>
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        <name>Atrium CDO Corp</name>
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        <name>Arbor Realty Collateralized Lo</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes 2022-FL2 Ltd</title>
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        <name>ANNALY CAPITAL MGMT</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management Inc</title>
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        <name>TPG Real Estate Finance</name>
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        <name>Stonepeak</name>
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        <name>Structured Asset Securities Co</name>
        <lei>N/A</lei>
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        <name>STAR 2022-SFR3 Trust</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>SIRVA WORLDWIDE INC EXIT FACILITY</name>
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        <name>SFO Commerical Mortgage Trust</name>
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        <title>SFO Commercial Mortgage Trust 2021-555</title>
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        <name>Santander Bank Auto Credit-Lin</name>
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        <title>Santander Bank Auto Credit-Linked Notes Series 2024-B</title>
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        <name>SBA_JVB_03</name>
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        <name>RITHM CAPITAL CORP</name>
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        <title>Rithm Capital Corp</title>
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        <name>Raptor Aircraft Finance LLC</name>
        <lei>549300QFYP8PTWJMXQ65</lei>
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        <name>Residential Asset Securitizati</name>
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          <ticker value="RAST"/>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-02-28</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>
