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        <name>Neuberger Berman CLO Ltd</name>
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        <name>Magnetite CLO Ltd</name>
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        <name>LP LMS Asset Securitization Tr</name>
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        <name>Greywolf CLO Ltd</name>
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      <invstOrSec>
        <name>LendingPoint Asset Securitizat</name>
        <lei>N/A</lei>
        <title>LendingPoint 2020-REV1 Asset Securitization Trust</title>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ITBJ4KEFYWF83</lei>
        <title>Freddie Mac STACR REMIC Trust 2020-HQA2</title>
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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 2022-R01</title>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>DBGS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>DBGS 2021-W52 Mortgage Trust</title>
        <cusip>23308LAJ3</cusip>
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          <isin value="US23308LAJ35"/>
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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>
        <cusip>12669EF76</cusip>
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          <isin value="US12669EF769"/>
          <ticker value="CWHL"/>
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        <balance>39493.000000000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Crown Point CLO Ltd</name>
        <lei>N/A</lei>
        <title>Crown Point CLO 8 Ltd</title>
        <cusip>22846BAQ0</cusip>
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          <isin value="US22846BAQ05"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.231080000000</annualizedRt>
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      <invstOrSec>
        <name>CENTURYLINK INC TERM B 1L GTD SR. SECD</name>
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        <title>CENTURYLINK INC TERM B 1L GTD SR. SECD</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-J5</title>
        <cusip>12668EAD9</cusip>
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          <ticker value="CWALT"/>
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          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>N/A</lei>
        <title>CARLYLE US CLO 2019-1 LTD</title>
        <cusip>14316DAA9</cusip>
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          <isin value="US14316DAA90"/>
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        <balance>1250000.000000000000</balance>
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      <invstOrSec>
        <name>Bluemountain CLO Ltd</name>
        <lei>N/A</lei>
        <title>BlueMountain CLO 2018-2 Ltd</title>
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          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2019-IMC</title>
        <cusip>05608BAS9</cusip>
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          <isin value="US05608BAS97"/>
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      <invstOrSec>
        <name>Blackrock Mt. Hood CLO X LLC.</name>
        <lei>549300N3N5OOLMSHXG32</lei>
        <title>Blackrock MT Hood CLO X LLC</title>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Blackbird Capital Aircraft</name>
        <lei>N/A</lei>
        <title>Blackbird Capital II Aircraft Lease Ltd</title>
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        <assetCat>ABS-O</assetCat>
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      <invstOrSec>
        <name>Bean Creek CLO LTD</name>
        <lei>635400STD6UUTEW5KM07</lei>
        <title>Bean Creek CLO Ltd</title>
        <cusip>07378XAG1</cusip>
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        <balance>1000000.000000000000</balance>
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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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          <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>-719000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-719000</valUSD>
        <pctVal>-1.9771236275</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="LUCID MANAGEMENT AND CAPITAL PARTNERS LP" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.65267</repurchaseRt>
          <maturityDt>2025-04-16</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-719000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-719000</collateralVal>
              <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>-1513000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1513000</valUSD>
        <pctVal>-4.1604840730</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="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.575</repurchaseRt>
          <maturityDt>2025-06-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-1513000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-1513000</collateralVal>
              <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>-908000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-908000</valUSD>
        <pctVal>-2.4968404086</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>5.29</repurchaseRt>
          <maturityDt>2025-05-05</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-908000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-908000</collateralVal>
              <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>-786000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-786000</valUSD>
        <pctVal>-2.1613618515</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>5.54</repurchaseRt>
          <maturityDt>2025-05-13</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-786000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-786000</collateralVal>
              <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>-807000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-807000</valUSD>
        <pctVal>-2.2191081605</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>5.27</repurchaseRt>
          <maturityDt>2025-04-25</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-807000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-807000</collateralVal>
              <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>-632000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-632000</valUSD>
        <pctVal>-1.7378889188</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>5.72</repurchaseRt>
          <maturityDt>2025-04-21</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-632000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>-632000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>20661.124</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14804.29</valUSD>
        <pctVal>0.0407091955</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>6.87</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-30</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>
