# EDGAR Filing Document

**Accession Number:** 0001355064
**File Stem:** 0001752724-25-211837
**Filing Date:** 2025-8
**Character Count:** 67996
**Document Hash:** 54cc4bf67d257480be61755bc82bdb40
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211837.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211837

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MUTUAL FUND SERIES TRUST
- **CENTRAL INDEX KEY:** 0001355064

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21872
- **FILM NUMBER:** 251273809

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474
- **BUSINESS PHONE:** 631 549 1859

**MAIL ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CATALYST FUNDS
- **DATE OF NAME CHANGE:** 20060303

## Series and Classes Contracts Data

### AlphaCentric Real Income Fund (Series ID: S000071674)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000227116 | AlphaCentric Real Income Fund Class I | SIIIX           |
| C000227117 | AlphaCentric Real Income Fund Class A | SIIAX           |
| C000227118 | AlphaCentric Real Income Fund Class C | SIICX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 29.8%** |  |
|  | **CONTAINERS & PACKAGING - 2.3%** |  |
| 55000 | Graphic Packaging Holding Company | &nbsp;&nbsp;&nbsp; $1158850 |
|  | **HEALTH CARE REIT - 0.0%<sup>(a)</sup>** |  |
| 1000 | Global Medical REIT, Inc. | &nbsp;&nbsp;&nbsp; 6930 |
|  | **HOTEL REIT - 0.4%** |  |
| 12500 | Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp; 192000 |
|  | **INDUSTRIAL REIT - 0.3%** |  |
| 10000 | Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp; 160600 |
|  | **INSURANCE - 0.0%<sup>(a)</sup>** |  |
| 1000 | Genworth Financial, Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 7780 |
|  | **LEISURE FACILITIES & SERVICES - 0.5%** |  |
| 25000 | Bally's Corporation<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 239500 |
|  | **METALS & MINING - 3.4%** |  |
| 410000 | Champion Iron Ltd. | &nbsp;&nbsp;&nbsp; 1107693 |
| 25000 | Labrador Iron Ore Royalty Corporation | &nbsp;&nbsp;&nbsp; 520883 |
|  |  | &nbsp;&nbsp; 1628576 |
|  | **MORTGAGE FINANCE - 0.8%** |  |
| 30000 | Chimera Investment Corporation | &nbsp;&nbsp;&nbsp; 416100 |
|  | **MULTI ASSET CLASS REIT - 0.6%** |  |
| 45000 | Armada Hoffler Properties, Inc. | &nbsp;&nbsp;&nbsp; 309150 |
|  | **OFFICE REIT - 2.9%** |  |
| 70000 | American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp; 1382500 |
|  | **OIL & GAS PRODUCERS - 0.2%** |  |
| 1000 | Phillips 66 | &nbsp;&nbsp;&nbsp; 119300 |

---

---

| | | |
|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 29.8% (Continued)** |  |
|  | **REAL ESTATE OWNERS & DEVELOPERS - 2.2%** |  |
| 50000 | AMREP Corporation<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; $1046500 |
| 10000 | Nam Tai Property, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 42000 |
|  |  | &nbsp;&nbsp; 1088500 |
|  | **RETAIL REIT - 9.1%** |  |
| 112674 | Alpine Income Property Trust, Inc. | &nbsp;&nbsp;&nbsp; 1657434 |
| 30000 | CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp; 761700 |
| 38079 | CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp; 657244 |
| 30000 | Saul Centers, Inc. | &nbsp;&nbsp;&nbsp; 1024200 |
| 30000 | Whitestone REIT | &nbsp;&nbsp;&nbsp; 374400 |
|  |  | &nbsp;&nbsp; 4474978 |
|  | **SELF-STORAGE REIT - 1.2%** |  |
| 50000 | Global Self Storage, Inc. | &nbsp;&nbsp;&nbsp; 267000 |
| 10000 | Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;&nbsp; 362300 |
|  |  | &nbsp;&nbsp; 629300 |
|  | **SOFTWARE - 0.4%** |  |
| 10000 | Ingram Micro Holding Corporation | &nbsp;&nbsp;&nbsp; 208400 |
|  | **SPECIALTY REITS - 0.2%** |  |
| 1000 | Lamar Advertising Company, Class A | &nbsp;&nbsp;&nbsp; 121360 |
|  | **TRANSPORTATION & LOGISTICS - 5.3%** |  |
| 60000 | FLEX LNG Ltd. | &nbsp;&nbsp;&nbsp; 1318800 |
| 1000 | Golar LNG Ltd. | &nbsp;&nbsp;&nbsp; 41190 |
| 50000 | Stolt-Nielsen Ltd. | &nbsp;&nbsp;&nbsp; 1270047 |
|  |  | &nbsp;&nbsp; 2630037 |
|  | **TOTAL COMMON STOCKS (Cost $16,364,185)** | &nbsp;&nbsp; 14773861 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUND — 3.8%** | **EXCHANGE-TRADED FUND — 3.8%** |  |  |  |
|  | **EQUITY - 3.8%** | **EQUITY - 3.8%** |  |  |  |
| 20000 | iShares U.S. Real Estate ETF **(Cost $1,911,227)** |  |  |  | &nbsp;&nbsp;&nbsp; $1895400 |
|  | **PREFERRED STOCKS** — **6.6%** | **PREFERRED STOCKS** — **6.6%** |  |  |  |
|  | **OIL & GAS PRODUCERS** — **1.6%** | **OIL & GAS PRODUCERS** — **1.6%** |  |  |  |
| 35400 | NGL Energy Partners, L.P. - Series B |  |  |  | &nbsp;&nbsp;&nbsp; 777030 |
|  | **SPECIALTY REIT** — **5.0%** | **SPECIALTY REIT** — **5.0%** |  |  |  |
| 100156 | Gladstone Land Corporation - Series D |  |  |  | &nbsp;&nbsp;&nbsp; 2479863 |
|  | **TOTAL PREFERRED STOCKS (Cost $3,318,410)** | **TOTAL PREFERRED STOCKS (Cost $3,318,410)** |  |  | 3256893 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.3%** | **ASSET BACKED SECURITIES — 25.3%** |  |  |  |
|  | **AUTO LOAN** — **0.3%** | **AUTO LOAN** — **0.3%** |  |  |  |
| 155000 | First Investors Auto Owner Trust 2022-2 Series 2A D<sup>(c)</sup> |  | 8.7100 | &nbsp;&nbsp;&nbsp;10/16/28 | 161303 |
|  | **CLO** — **0.2%** | **CLO** — **0.2%** |  |  |  |
| 100000 | TRTX 2021-FL4 Issuer Ltd. Series FL4 AS<sup>(c),(d)</sup> | TSFR1M + 1.514% | 5.8280 | &nbsp;&nbsp;&nbsp;03/15/38 | 100038 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.4%** |  |  |  |
| 37319 | Adjustable Rate Mortgage Trust 2007-1 Series 2007-1 1A1<sup>(e)</sup> |  | 5.5390 | &nbsp;&nbsp;&nbsp;03/25/37 | 29857 |
| 37080 | MFA 2020-NQM2 Trust Series NQM2 A3<sup>(c),(e)</sup> |  | 1.9470 | &nbsp;&nbsp;&nbsp;04/25/65 | 35973 |
| 185180 | Washington Mutual Mortgage Pass-Through Series 2007-HY1 A2A<sup>(d)</sup> | TSFR1M + 0.160% | 4.7540 | &nbsp;&nbsp;&nbsp;02/25/37 | 143027 |
|  |  |  |  |  | 208857 |
|  | **HOME EQUITY** — **0.3%** | **HOME EQUITY** — **0.3%** |  |  |  |
| 167328 | Terwin Mortgage Trust 2004-7HE Series 7HE A3<sup>(c),(d)</sup> | TSFR1M + 1.400% | 5.8340 | &nbsp;&nbsp;&nbsp;07/25/34 | 163237 |
|  | **NON AGENCY CMBS** — **21.4%** | **NON AGENCY CMBS** — **21.4%** |  |  |  |
| 906906 | BAMLL Commercial Mortgage Securities Trust Series DKLX C<sup>(c),(d)</sup> | TSFR1M + 2.150% | 6.4620 | &nbsp;&nbsp;&nbsp;01/15/39 | 899485 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.3% (Continued)** | **ASSET BACKED SECURITIES — 25.3% (Continued)** |  |  |  |
|  | **NON AGENCY CMBS** — **21.4% (Continued)** | **NON AGENCY CMBS** — **21.4% (Continued)** |  |  |  |
| 1432590 | BX Commercial Mortgage Trust 2021-SOAR Series SOAR B<sup>(c),(d)</sup> | TSFR1M + 0.984% | 5.2960 | &nbsp;&nbsp;&nbsp;06/15/38 | $1433237 |
| 100828 | BX Commercial Mortgage Trust 2021-VINO Series VINO B<sup>(c),(d)</sup> | TSFR1M + 0.967% | 5.2790 | &nbsp;&nbsp;&nbsp;05/15/38 | 100863 |
| 968828 | BX Commercial Mortgage Trust 2021-VOLT Series VOLT B<sup>(c),(d)</sup> | TSFR1M + 1.064% | 5.3760 | &nbsp;&nbsp;&nbsp;09/15/36 | 965287 |
| 1810000 | BX Trust 2025-LUNR Series LUNR B<sup>(c),(d)</sup> | TSFR1M + 1.850% | 6.1620 | &nbsp;&nbsp;&nbsp;06/09/40 | 1815739 |
| 477000 | CFCRE Commercial Mortgage Trust 2016-C6 Series C6 C<sup>(e)</sup> |  | 4.3040 | &nbsp;&nbsp;&nbsp;11/10/49 | 424313 |
| 115000 | Citigroup Commercial Mortgage Trust 2017-C4 Series C4 AS |  | 3.7640 | &nbsp;&nbsp;&nbsp;10/12/50 | 110649 |
| 100000 | COMM 2013-CCRE6 Mortgage Trust Series 2013-CR6 F<sup>(c),(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/10/46 | 59571 |
| 115000 | COMM 2015-CCRE25 Mortgage Trust Series CR25 D<sup>(e)</sup> |  | 3.9390 | &nbsp;&nbsp;&nbsp;08/10/48 | 108076 |
| 81000 | COMM 2015-LC19 Mortgage Trust Series 2015-LC19 D<sup>(c)</sup> |  | 2.8670 | &nbsp;&nbsp;&nbsp;02/10/48 | 73705 |
| 20000 | COMM 2015-LC23 Mortgage Trust Series LC23 C<sup>(e)</sup> |  | 4.7030 | &nbsp;&nbsp;&nbsp;10/10/48 | 19238 |
| 150000 | COMM 2016-CR28 Mortgage Trust Series CR28 B<sup>(e)</sup> |  | 4.7370 | &nbsp;&nbsp;&nbsp;02/10/49 | 146013 |
| 33371 | CSAIL 2016-C5 Commercial Mortgage Trust Series 2016-C5 C<sup>(e)</sup> |  | 4.7780 | &nbsp;&nbsp;&nbsp;11/15/48 | 32712 |
| 100000 | CSAIL 2016-C6 Commercial Mortgage Trust Series C6 B<sup>(e)</sup> |  | 3.9240 | &nbsp;&nbsp;&nbsp;01/15/49 | 95598 |
| 120000 | CSAIL 2016-C6 Commercial Mortgage Trust Series C6 C<sup>(e)</sup> |  | 5.0800 | &nbsp;&nbsp;&nbsp;01/15/49 | 109345 |
| 185000 | DBJPM 2016-C3 Mortgage Trust Series C3 B |  | 3.2640 | &nbsp;&nbsp;&nbsp;08/10/49 | 177252 |
| 45000 | JPMBB Commercial Mortgage Securities Trust Series 2015-C30 B<sup>(e)</sup> |  | 4.3550 | &nbsp;&nbsp;&nbsp;07/15/48 | 41767 |
| 10000 | JPMBB Commercial Mortgage Securities Trust Series 2015-C28 C<sup>(e)</sup> |  | 4.3790 | &nbsp;&nbsp;&nbsp;10/15/48 | 9856 |
| 150000 | JPMDB Commercial Mortgage Securities Trust 2016-C2 Series C2 AS |  | 3.4840 | &nbsp;&nbsp;&nbsp;06/15/49 | 140158 |
| 145000 | JPMDB Commercial Mortgage Securities Trust 2017-C7 Series C7 B |  | 3.9850 | &nbsp;&nbsp;&nbsp;10/15/50 | 135142 |
| 1125000 | MHP 2021-STOR Series STOR A<sup>(c),(d)</sup> | TSFR1M + 0.814% | 5.1260 | &nbsp;&nbsp;&nbsp;07/15/38 | 1125242 |
| 3598 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C12 C<sup>(e)</sup> |  | 4.8610 | &nbsp;&nbsp;&nbsp;10/15/46 | 3423 |
| 450000 | Morgan Stanley Bank of America Merrill Lynch Trust Series C28 C<sup>(e)</sup> |  | 4.7520 | &nbsp;&nbsp;&nbsp;01/15/49 | 405716 |
| 1652322 | SG Commercial Mortgage Securities Trust 2016-C5 Series C5 XA<sup>(e),(f)</sup> |  | 1.9770 | &nbsp;&nbsp;&nbsp;10/10/48 | 17015 |
| 370000 | SG Commercial Mortgage Securities Trust 2016-C5 Series C5 B |  | 3.9330 | &nbsp;&nbsp;&nbsp;10/10/48 | 355178 |
| 220000 | UBS Commercial Mortgage Trust 2018-C13 Series C13 B<sup>(e)</sup> |  | 4.7860 | &nbsp;&nbsp;&nbsp;10/15/51 | 208355 |
| 75000 | Wells Fargo Commercial Mortgage Trust 2015-NXS1 Series 2015-NXS1 D<sup>(e)</sup> |  | 4.0410 | &nbsp;&nbsp;&nbsp;05/15/48 | 72798 |
| 300000 | Wells Fargo Commercial Mortgage Trust 2015-P2 Series P2 E<sup>(c),(e)</sup> |  | 4.8130 | &nbsp;&nbsp;&nbsp;12/15/48 | 275282 |
| 711150 | Wells Fargo Commercial Mortgage Trust 2016-C33 Series C33 C |  | 3.8960 | &nbsp;&nbsp;&nbsp;03/15/59 | 682980 |
| 100000 | Wells Fargo Commercial Mortgage Trust 2016-C36 Series C36 B<sup>(e)</sup> |  | 3.6710 | &nbsp;&nbsp;&nbsp;11/15/59 | 92998 |
| 100000 | Wells Fargo Commercial Mortgage Trust 2016-NXS6 Series 2016-NXS6 B |  | 3.8110 | &nbsp;&nbsp;&nbsp;11/15/49 | 96773 |
| 266399 | WFRBS Commercial Mortgage Trust 2013-C15 Series 2013-C15 B<sup>(e)</sup> |  | 4.2860 | &nbsp;&nbsp;&nbsp;08/15/46 | 251481 |
| 160000 | WFRBS Commercial Mortgage Trust 2013-C15 Series 2013-C15 C<sup>(e)</sup> |  | 4.2860 | &nbsp;&nbsp;&nbsp;08/15/46 | 140240 |
|  |  |  |  |  | 10625487 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.3% (Continued)** | **ASSET BACKED SECURITIES — 25.3% (Continued)** |  |  |  |
|  | **OTHER ABS** — **2.7%** | **OTHER ABS** — **2.7%** |  |  |  |
| 920000 | Coinstar Funding, LLC Series 2017-1 Series 2017-1A A2<sup>(c)</sup> |  | 5.2160 | &nbsp;&nbsp;&nbsp;04/25/47 | $857909 |
| 436049 | RAM 2024-1, LLC Series 1 A<sup>(c)</sup> |  | 6.6690 | &nbsp;&nbsp;&nbsp;02/15/39 | 437367 |
|  |  |  |  |  | 1295276 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $12,302,477)** | **TOTAL ASSET BACKED SECURITIES (Cost $12,302,477)** |  |  | 12554198 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.4%** |  |  |  |
|  | **CMBS** — **0.2%** | **CMBS** — **0.2%** |  |  |  |
| 1000000 | Freddie Mac Multifamily Structured Pass Through Series K126 X3<sup>(e),(f)</sup> |  | 2.6280 | &nbsp;&nbsp;&nbsp;01/25/49 | 122309 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.2%** |  |  |  |
| 629460 | Government National Mortgage Association Series 2019-110 SE<sup>(d),(f)</sup> | TSFR1M + 5.986% | 1.6680 | &nbsp;&nbsp;&nbsp;09/20/49 | 83310 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $197,192)** | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $197,192)** |  |  | 205619 |
|  | **CONVERTIBLE BONDS — 2.2%** | **CONVERTIBLE BONDS — 2.2%** |  |  |  |
|  | **OIL & GAS PRODUCERS** — **0.3%** | **OIL & GAS PRODUCERS** — **0.3%** |  |  |  |
| 160000 | Golar LNG Ltd.<sup>(c)</sup> |  | 2.7500 | &nbsp;&nbsp;&nbsp;12/15/30 | 164600 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **1.9%** | **REAL ESTATE INVESTMENT TRUSTS** — **1.9%** |  |  |  |
| 1000000 | Braemar Hotels & Resorts, Inc. |  | 4.5000 | &nbsp;&nbsp;&nbsp;06/01/26 | 937500 |
|  | **TOTAL CONVERTIBLE BONDS (Cost $1,102,500)** | **TOTAL CONVERTIBLE BONDS (Cost $1,102,500)** |  |  | 1102100 |
|  | **CORPORATE BONDS — 25.8%** | **CORPORATE BONDS — 25.8%** |  |  |  |
|  | **APPAREL & TEXTILE PRODUCTS** — **1.7%** | **APPAREL & TEXTILE PRODUCTS** — **1.7%** |  |  |  |
| 8000000 | Boras V-tyget 1 A.B.<sup>(d)</sup> | STIB3M + 5.750% | 8.0480 | &nbsp;&nbsp;&nbsp;04/29/27 | 858535 |
|  | **GAS & WATER UTILITIES** — **1.1%** | **GAS & WATER UTILITIES** — **1.1%** |  |  |  |
| 588000 | Superior Plus, L.P. / Superior General Partner,<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/15/29 | 565920 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 25.8% (Continued)** | **CORPORATE BONDS — 25.8% (Continued)** |  |  |  |
|  | **INDUSTRIAL SUPPORT SERVICES** — **1.9%** | **INDUSTRIAL SUPPORT SERVICES** — **1.9%** |  |  |  |
| 1000000 | Alta Equipment Group, Inc.<sup>(c)</sup> |  | 9.0000 | &nbsp;&nbsp;&nbsp;06/01/29 | $933447 |
|  | **INSURANCE** — **2.9%** | **INSURANCE** — **2.9%** |  |  |  |
| 1700000 | Genworth Holdings, Inc.<sup>(e)</sup> | TSFR3M + 2.264% | 6.5900 | &nbsp;&nbsp;&nbsp;11/15/36 | 1456348 |
|  | **INTERNET MEDIA & SERVICES** — **1.7%** | **INTERNET MEDIA & SERVICES** — **1.7%** |  |  |  |
| 848000 | Getty Images, Inc. |  | 11.2500 | &nbsp;&nbsp;&nbsp;02/21/30 | 842378 |
|  | **METALS & MINING** — **0.3%** | **METALS & MINING** — **0.3%** |  |  |  |
| 149000 | Champion Iron Canada, Inc.<sup>(c)</sup> |  | 7.8750 | &nbsp;&nbsp;&nbsp;07/15/32 | 151096 |
|  | **OIL & GAS PRODUCERS** — **1.5%** | **OIL & GAS PRODUCERS** — **1.5%** |  |  |  |
| 751000 | Summit Midstream Holdings, LLC<sup>(c)</sup> |  | 8.6250 | &nbsp;&nbsp;&nbsp;10/31/29 | 767326 |
|  | **OIL & GAS SERVICES & EQUIPMENT** — **1.8%** | **OIL & GAS SERVICES & EQUIPMENT** — **1.8%** |  |  |  |
| 850000 | Forum Energy Technologies, Inc. |  | 10.5000 | &nbsp;&nbsp;&nbsp;11/07/29 | 866845 |
|  | **REAL ESTATE OWNERS & DEVELOPERS** — **4.1%** | **REAL ESTATE OWNERS & DEVELOPERS** — **4.1%** |  |  |  |
| 1000000 | Five Point Operating Company, L.P. / Five Point<sup>(c),(g)</sup> |  | 10.5000 | &nbsp;&nbsp;&nbsp;01/15/28 | 1018069 |
| 1000000 | Howard Hughes Corporation (The)<sup>(c)</sup> |  | 5.3750 | &nbsp;&nbsp;&nbsp;08/01/28 | 995172 |
|  |  |  |  |  | 2013241 |
|  | **RETAIL - DISCRETIONARY** — **0.6%** | **RETAIL - DISCRETIONARY** — **0.6%** |  |  |  |
| 294000 | Kohl's Corporation<sup>(c)</sup> |  | 10.0000 | &nbsp;&nbsp;&nbsp;06/01/30 | 304787 |
|  | **SPECIALTY** — **2.1%** | **SPECIALTY** — **2.1%** |  |  |  |
| 1000000 | Outfront Media Capital, LLC / Outfront Media<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;08/15/27 | 995633 |
|  | **SPECIALTY FINANCE** — **2.0%** | **SPECIALTY FINANCE** — **2.0%** |  |  |  |
| 1000000 | Arbor Realty SR, Inc.<sup>(c)</sup> |  | 8.5000 | &nbsp;&nbsp;&nbsp;10/15/27 | 992084 |
|  | **TELECOMMUNICATIONS** — **1.3%** | **TELECOMMUNICATIONS** — **1.3%** |  |  |  |
| 6600000 | ASP Data Center A/S<sup>(c),(d)</sup> | NIBOR3M + 7.000% | 11.6400 | &nbsp;&nbsp;&nbsp;03/03/28 | 658432 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 25.8% (Continued)** |  |  |  |
|  | **TRANSPORTATION & LOGISTICS** — **2.8%** |  |  |  |
| 1436186 | Hawaiian Airlines 2013-1 Class A Pass Through Series 2013-1A | 3.9000 | &nbsp;&nbsp;&nbsp;01/15/26 | $1409304 |
|  | **TOTAL CORPORATE BONDS (Cost $12,442,855)** |  |  | 12815376 |
|  | **TERM LOANS — 2.3%** |  |  |  |
|  | **LEISURE FACILITIES & SERVICES** — **0.9%** |  |  |  |
| 485000 | Bally's Corporation<sup>(d)</sup> | 7.7870 | &nbsp;&nbsp;&nbsp;10/02/28 | 430438 |
|  | **SPECIALTY REIT** — **1.4%** |  |  |  |
| 706190 | Lamar Media Corporation<sup>(d)</sup> | 5.9270 | &nbsp;&nbsp;&nbsp;02/08/27 | 706853 |
|  | **TOTAL TERM LOANS (Cost $1,125,349)** |  |  | 1137291 |
|  | **U.S. GOVERNMENT & AGENCIES — 0.9%** |  |  |  |
|  | **AGENCY MBS OTHER** — **0.9%** |  |  |  |
| 273838 | Ginnie Mae II Pool MA8867 | 5.5000 | &nbsp;&nbsp;&nbsp;05/20/53 | 273278 |
| 183347 | Ginnie Mae II Pool MA9007 | 6.5000 | &nbsp;&nbsp;&nbsp;07/20/53 | 186975 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $459,982)** |  |  | 460253 |

---

---

| | | |
|:---|:---|:---|
| **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** | **ALPHACENTRIC REAL INCOME FUND (SIIAX, SIICX, SIIIX)** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 5.7%** |  |
|  | **MONEY MARKET FUND - 5.7%** |  |
| 2832288 | First American Treasury Obligations Fund, Class X, 4.24% **(Cost $2,832,288)**<sup>(h)</sup> | &nbsp;&nbsp;&nbsp; $2832288 |
|  | **TOTAL INVESTMENTS - 102.8% (Cost $52,056,465)** | &nbsp;&nbsp;&nbsp; $51033279 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (2.8)%** | &nbsp;&nbsp; (1395778) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $49637501 |

---

---

| | |
|:---|:---|
| A/S | - Anonim Sirketi |
| ETF | - Exchange-Traded Fund |
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| REIT | - Real Estate Investment Trust |
| NIBOR3M | - Norwegian Interbank Offered Rate 3 month |
| STIB3M | - Stockholm Interbank Offered Rate 3 month |
| TSFR1M | - Term Secured Overnight Financing Rate (SOFR) 1 month |
| TSFR3M | - Term Secured Overnight Financing Rate (SOFR) 3 month |
| <sup>(a)</sup> | Percentage rounds to less than 0.1%. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025 the total market value of 144A securities is $16,050,804 or 32.3% of net assets. |
| <sup>(d)</sup> | Floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
| <sup>(e)</sup> | Variable rate security; the rate shown represents the rate on June 30, 2025. |
| <sup>(f)</sup> | Interest only securities. |
| <sup>(g)</sup> | Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at June 30, 2025. |
| <sup>(h)</sup> | Rate disclosed is the seven day effective yield as of June 30, 2025. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: | As of June 30, 2025, AlphaCentric Real Income Fund had the following open forward currency contracts: |
|  |  |  |  |  |  | **Unrealized** |
| **Foreign Currency** | **Foreign Currency** | **Settlement Date** | **Counterparty** | **Local Currency** | **U.S. Dollar Value** | **Appreciation/(Depreciation)** |
| **To Buy:** | **To Sell:** |  |  |  |  |  |
| Canadian Dollar | Canadian Dollar | 07/15/2025 | US Bank | &nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $73478 | &nbsp;&nbsp;&nbsp; $116 |
|  |  |  |  |  | &nbsp;&nbsp; **$73478** | &nbsp;&nbsp; **$116** |
| **To Sell:** | **To Buy:** |  |  |  |  |  |
| Canadian Dollar | United States Dollars | 07/15/2025 | US Bank | &nbsp;&nbsp;&nbsp; 2328000 | &nbsp;&nbsp;&nbsp; $1710568 | &nbsp;&nbsp;&nbsp; $(39238) |
| Norwegian Krone | United States Dollars | 07/15/2025 | US Bank | &nbsp;&nbsp;&nbsp; 13015000 | &nbsp;&nbsp;&nbsp; 1291473 | &nbsp;&nbsp;&nbsp; (43846) |
| Swedish Krona | United States Dollars | 07/15/2025 | US Bank | &nbsp;&nbsp;&nbsp; 7680000 | &nbsp;&nbsp;&nbsp; 812689 | &nbsp;&nbsp;&nbsp; (26046) |
|  |  |  |  |  | &nbsp;&nbsp; **$3814730** | &nbsp;&nbsp; **$(109130)** |
| **Total** |  |  |  |  |  | &nbsp;&nbsp; **$(109014)** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** MUTUAL FUND SERIES TRUST

- **b. Investment Company Act file number:** 811-21872

- **c. CIK number of Registrant:** 0001355064

- **d. LEI of Registrant:** 5493002ZGLQMLR4QMA96

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** C/O GEMINI FUND SERVICES LLC

  - **City:** ELKHORN

  - **State:** NE

  - **Foreign country:** US

  - **Zip / Postal Code:** 68022

  - **Telephone number:** 631-470-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** AlphaCentric Real Income Fund

- **b. EDGAR series identifier (if any):** S000071674

- **c. LEI of Series:** 549300YDYHXBQRIQH163

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $55940626.14

**Total Liabilities:** $6303125.03

**Net Assets:** $49637501.11

**Cash Not Reported:** $0.07

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 92.27094300 | **1-Year:** 942.69817400 | **5-Year:** 649.06795700 | **10-Year:** 142.93320100 | **30-Year:** 41.12158700

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 1958.78256000 | **1-Year:** 943.40643200 | **5-Year:** 1475.68784500 | **10-Year:** 188.15252800 | **30-Year:** 17.90256300

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227118 | -2.05%               | 2.00%                | 0.61%                |
| Class ID C000227117 | -1.93%               | 2.00%                | 0.66%                |
| Class ID C000227116 | -1.96%               | 2.08%                | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-47125.55               | $-948510.51                                |
| Month 2  | $302556.33               | $619536.68                                 |
| Month 3  | $-13508.91               | $108514.31                                 |

### Schedule of Portfolio Investments

| Name                                                                           | Title                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WF-RBS Commercial Mortgage Trust                                               | WFRBS 2013-C15 C          | CUSIP: 92938CAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $140240.00    | 0.28%             | 2046-08-15      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| BORAS V-tyget 1 AB                                                             | BOVTYG FLOAT 04/29/27     | CUSIP: W2R05HAA7<br>LEI: 549300JFRI5IT5B0OX52 | Long             | DBT              | CORP              | SE        |   8000000 | PA      | $858534.70    | 1.73%             | 2027-04-29      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| SmartStop Self Storage REIT Inc                                                | SMARTSTOP SELF S          | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     10000 | NS      | $362300.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Jpmdb Commercial Mortgage Secu                                                 | JPMDB 2016-C2 AS          | CUSIP: 46590LAX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $140157.63    | 0.28%             | 2049-06-15      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Forum Energy Technologies Inc                                                  | FET 10 1/2 11/07/29       | CUSIP: U02634AD2<br>LEI: 549300SF93HLCR1REE27 | Long             | DBT              | CORP              | US        |    850000 | PA      | $866844.55    | 1.75%             | 2029-11-07      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Phillips 66                                                                    | PHILLIPS 66               | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      1000 | NS      | $119300.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Comm 2015-Ccre25 Mortgage Trust                                                | COMM 2015-CR25 D          | CUSIP: 12593PBB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    115000 | PA      | $108075.99    | 0.22%             | 2048-08-10      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                                          | WFCM 2015-NXS1 D          | CUSIP: 94989HBM1<br>LEI: 5493002S7XBI8CVRR075 | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $72797.73     | 0.15%             | 2048-05-15      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Sovereign ComlMtg                                                              | SGCMS 2016-C5 XA          | CUSIP: 78419CAG9<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-O            | CORP              | US        |   1652322 | PA      | $17015.11     | 0.03%             | 2048-10-10      | Floating      | 1.98%                 | No            |                  2 | On Loan: No      |
| Golar LNG Limited                                                              | GOLAR LNG LTD             | CUSIP: G9456A100<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |      1000 | NS      | $41190.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Chimera Investment Corporation                                                 | CHIMERA INV CORP          | CUSIP: 16934Q802<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               | CORP              | US        |     30000 | NS      | $416100.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Holdings Inc.                                                         | HA 3.9 01/15/26           | CUSIP: 419838AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1436186 | PA      | $1409303.86   | 2.84%             | 2026-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Csail 2016-C6 Commercial Mortg                                                 | CSAIL 2016-C6 B           | CUSIP: 12636MAK4<br>LEI: 549300C2HE5FJAWYZL57 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $95598.44     | 0.19%             | 2049-01-15      | Floating      | 3.92%                 | No            |                  2 | On Loan: No      |
| Summit Midstream Holdings, LLC / Summit Midstream Finance Corp.                | SUMMPL 8 5/8 10/31/29     | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    751000 | PA      | $767325.99    | 1.55%             | 2029-10-31      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Ingram Micro Holding Corporation                                               | INGRAM MICRO HOL          | CUSIP: 457152106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $208400.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                                   | BX 2021-VINO B            | CUSIP: 05608KAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100828 | PA      | $100862.85    | 0.20%             | 2038-05-15      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Global Medical REIT Inc.                                                       | GLOBAL MEDICAL R          | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |      1000 | NS      | $6930.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Images Inc.                                                              | ABEGET 11 1/4 02/21/30    | CUSIP: 374276AN3<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    848000 | PA      | $842377.76    | 1.70%             | 2030-02-21      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| Amrep Corp                                                                     | AMREP CORP                | CUSIP: 032159105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $1046500.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Alta Equipment Group Inc                                                       | ALTG 9 06/01/29           | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $933447.40    | 1.88%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST                                     | JPMBB 2015-C28 C          | CUSIP: 46644FAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $9856.13      | 0.02%             | 2048-10-15      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Five Point Operating Company LP  Five Point Capital Corp                       | FPH 10 1/2 01/15/28       | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018069.00   | 2.05%             | 2028-01-15      | Floating      | 10.50%                | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                       | GNR 2019-110 SE           | CUSIP: 38381YXT6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    629460 | PA      | $83310.14     | 0.17%             | 2049-09-20      | Floating      | 1.67%                 | No            |                  2 | On Loan: No      |
| Global Self Storage Inc                                                        | GLOBAL SELF STORAGE INC   | CUSIP: 37955N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $267000.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc.                                                    | HHC 5 3/8 08/01/28        | CUSIP: 44267DAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995172.20    | 2.00%             | 2028-08-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| MFA 2020-NQM2 TRUST                                                            | MFRA 2020-NQM2 A3         | CUSIP: 552751AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37080 | PA      | $35972.53     | 0.07%             | 2065-04-25      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| NGL Energy Partners LP/ NGL Energy Finance Corp                                | NGL 12.7937 PERP          | CUSIP: 62913M206<br>LEI: 5299005YSRP46BE8Z459 | Long             | EP               | CORP              | US        |     35400 | NS      | $777030.00    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Senior Incorporated                                               | ABR 8 1/2 10/15/27        | CUSIP: 03881NAC1<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992084.06    | 2.00%             | 2027-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Gladstone Land Corp.                                                           | LAND 5                    | CUSIP: 376549507<br>LEI: 54930002B3Q17H38FG74 | Long             | EP               | CORP              | US        |    100156 | NS      | $2479862.56   | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TRTX 2021-FL4 ISSUER LTD                                                       | TRTX 2021-FL4 AS          | CUSIP: 87276WAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    100000 | PA      | $100038.40    | 0.20%             | 2038-03-15      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                       | G2 MA8867                 | CUSIP: 36179XZ82<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    273838 | PA      | $273278.06    | 0.55%             | 2053-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2025-LUNR                                                             | BX 2025-LUNR B            | CUSIP: 05594CAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1810000 | PA      | $1815738.97   | 3.66%             | 2040-06-09      | Floating      | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Coinstar Funding, LLC                                                          | COIN 2017-1A A2           | CUSIP: 19260MAA4<br>LEI: 5493004UNX3RE1I4DH23 | Long             | ABS-O            | CORP              | US        |    920000 | PA      | $857909.20    | 1.73%             | 2047-04-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| Alpine Income Property Trust Inc                                               | ALPINE INCOME             | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112674 | NS      | $1657434.54   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Labrador Iron Ore Royalty Corporation                                          | Labrador Iron Ore Royalty | CUSIP: 505440107<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     25000 | NS      | $520883.04    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| RAM 2024-1 LLC                                                                 | RAM 2024-1 A              | CUSIP: 751313AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    436049 | PA      | $437366.66    | 0.88%             | 2039-02-15      | Fixed         | 6.67%                 | Yes           |                  2 | On Loan: No      |
| Bally's Corporation                                                            | BALY TL B 1L USD          | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |    485000 | PA      | $430437.50    | 0.87%             | 2028-10-02      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| N/A                                                                            | CURRENCY CONTRACT - CAD   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |     73362 | NC      | $115.79       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC / Outfront Media Capital Corp                       | OUT 5 08/15/27            | CUSIP: 69007TAB0<br>LEI: 5493005WC7J0FDMW0610 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995633.50    | 2.01%             | 2027-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MHP COMMERCIAL MORTGAGE TRUST                                                  | MHP 2021-STOR A           | CUSIP: 55293BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | PA      | $1125241.65   | 2.27%             | 2038-07-15      | Floating      | 5.13%                 | Yes           |                  2 | On Loan: No      |
| NAM Tai Ppty Inc                                                               | NAM TAI PROPERTY          | CUSIP: G63907102<br>LEI: 529900O97Q8EBC2RBV34 | Long             | EC               | CORP              | VG        |     10000 | NS      | $42000.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CFCRE 2016-C6 Mortgage Trust                                                   | CFCRE 2016-C6 C           | CUSIP: 12532ABC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    477000 | PA      | $424312.58    | 0.85%             | 2049-11-10      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Coml Tr 2016-C36                                                   | WFCM 2016-C36 B           | CUSIP: 95000MBU4<br>LEI: 549300BSYX29G4VVM177 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $92997.60     | 0.19%             | 2059-11-15      | Floating      | 3.67%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.                                                      | FIRST AM-TR OB-X          | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   2832288 | PA      | $2832288.32   | 5.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Iron Canada Inc.                                                      | CIACN 7 7/8 07/15/32      | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    149000 | PA      | $151096.30    | 0.30%             | 2032-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CBL & Associates Properties, Inc.                                              | CBL & ASSOC PROP          | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               | CORP              | US        |     30000 | NS      | $761700.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                                                      | HOST HOTELS & RE          | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     12500 | NS      | $192000.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LNG Ltd.                                                                  | FLEX LNG LTD              | CUSIP: G35947202<br>LEI: 21380084THHU3MPC3647 | Long             | EC               | CORP              | BM        |     60000 | NS      | $1318800.00   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust 2017-C7                             | JPMDB 2017-C7 B           | CUSIP: 46648KAZ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $135141.87    | 0.27%             | 2050-10-15      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| Golar LNG Limited                                                              | GLNG 2 3/4 12/15/30       | CUSIP: 38046YAC5<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    160000 | PA      | $164600.00    | 0.33%             | 2030-12-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| FIRST INVESTORS AUTO OWNER TRUST 20                                            | FIAOT 2022-2A D           | CUSIP: 32058KAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $161303.35    | 0.32%             | 2028-10-16      | Fixed         | 8.71%                 | Yes           |                  2 | On Loan: No      |
| Saul Centers, Inc.                                                             | SAUL CENTERS INC          | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $1024200.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Bank Of America Merrill Lynch Trust                             | MSBAM 2016-C28 C          | CUSIP: 61766LBX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $405715.77    | 0.82%             | 2049-01-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| DBJPM 2016-C3 Mortgage Trust                                                   | DBJPM 2016-C3 B           | CUSIP: 23312VAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    185000 | PA      | $177252.09    | 0.36%             | 2049-08-10      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| American Assets Trust Inc.                                                     | AMERICAN ASSETS           | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70000 | NS      | $1382500.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Company                                              | GRAPHIC PACKAGIN          | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55000 | NS      | $1158850.00   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Csail 2016-C6 Commercial Mortg                                                 | CSAIL 2016-C6 C           | CUSIP: 12636MAL2<br>LEI: 549300C2HE5FJAWYZL57 | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $109345.30    | 0.22%             | 2049-01-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| N/A                                                                            | CURRENCY CONTRACT - USD   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    188000 | NC      | $-419.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sovereign ComlMtg                                                              | SGCMS 2016-C5 B           | CUSIP: 78419CAK0<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $355178.24    | 0.72%             | 2048-10-10      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| ASP Data Center AS                                                             | ASPDTA FLOAT 03/03/28     | CUSIP: R6922TAA7<br>LEI: 254900AWRSEQ0AFPUE15 | Long             | DBT              | CORP              | NO        |   6600000 | PA      | $658431.53    | 1.33%             | 2028-03-03      | Floating      | 11.64%                | Yes           |                  2 | On Loan: No      |
| Comm 2015-LC19 Mortgage Trust                                                  | COMM 2015-LC19 D          | CUSIP: 200474AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     81000 | PA      | $73704.69     | 0.15%             | 2048-02-10      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| Adjustable Rate Mortgage Trust 2005-8                                          | ARMT 2007-1 1A1           | CUSIP: 007037AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37318 | PA      | $29857.16     | 0.06%             | 2037-03-25      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Braemar Hotels & Resorts Inc                                                   | BHR 4 1/2 06/01/26        | CUSIP: 10482BAB7<br>LEI: 549300JDUUEBN868C776 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $937500.00    | 1.89%             | 2026-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CSAIL 2017-C8 Commercial Mortgage Trust                                        | CSAIL 2016-C5 C           | CUSIP: 12636LBE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     33371 | PA      | $32711.80     | 0.07%             | 2048-11-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Kohl's Corp.                                                                   | KSS 10 06/01/30           | CUSIP: 500255AY0<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    294000 | PA      | $304787.45    | 0.61%             | 2030-06-01      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Whitestone REIT                                                                | WHITESTONE REI            | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $374400.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Commercial Mortgage Trust 2018-C13                                         | UBSCM 2018-C13 B          | CUSIP: 90353KBC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $208354.89    | 0.42%             | 2051-10-15      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Champion Iron Ltd.                                                             | CHAMPION IRON LT          | CUSIP: Q22964102<br>LEI: 894500WQI96G4T75O202 | Long             | EC               | CORP              | AU        |    410000 | NS      | $1107693.21   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Jpmbb Commercial Mortgage Securities Trust 2015-C30                            | JPMBB 2015-C30 B          | CUSIP: 46644UBF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45000 | PA      | $41767.01     | 0.08%             | 2048-07-15      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| WF-RBS Commercial Mortgage Trust                                               | WFRBS 2013-C15 B          | CUSIP: 92938CAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    266399 | PA      | $251481.01    | 0.51%             | 2046-08-15      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                      | COMM 2016-CR28 B          | CUSIP: 12593YBL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $146013.18    | 0.29%             | 2049-02-10      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank Of America Merrill Lynch Trust                             | MSBAM 2013-C12 C          | CUSIP: 61762XAZ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3598 | PA      | $3422.63      | 0.01%             | 2046-10-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Armada Hoffler Properties Inc.                                                 | ARMADA HOFFLER P          | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |     45000 | NS      | $309150.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company                                                      | LAMAR ADVERTIS-A          | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      1000 | NS      | $121360.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates Wmalt Series 2006-6 Trust | WMALT 2007-HY1 A2A        | CUSIP: 93936AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    185180 | PA      | $143027.29    | 0.29%             | 2037-02-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                                   | BX 2021-VOLT B            | CUSIP: 05609VAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    968828 | PA      | $965287.44    | 1.94%             | 2036-09-15      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                            | CURRENCY CONTRACT - USD   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   7680000 | NC      | $-26045.82    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Stolt-Nielsen Ltd                                                              | STOLT-NIELSEN             | CUSIP: G85080102<br>LEI: 213800VZX4LWJSGRLR94 | Long             | EC               | CORP              | BM        |     50000 | NS      | $1270046.64   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Mortgage Trust 2015-LC23                                            | COMM 2015-LC23 C          | CUSIP: 12636FBP7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20000 | PA      | $19237.84     | 0.04%             | 2048-10-10      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Plymouth Industrial REIT Inc.                                                  | PLYMOUTH INDUSTR          | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $160600.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                                   | BX 2021-SOAR B            | CUSIP: 05608WAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1432590 | PA      | $1433236.82   | 2.89%             | 2038-06-15      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Genworth Financial Inc.                                                        | GENWORTH FINANCI          | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |      1000 | NS      | $7780.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2016-C33                                 | WFCM 2016-C33 C           | CUSIP: 95000LBF9<br>LEI: 549300JPCJUA5JJLRW54 | Long             | ABS-O            | CORP              | US        |    711150 | PA      | $682980.28    | 1.38%             | 2059-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Lamar Advertising                                                              | LAMR TL B 1L USD          | CUSIP: 513076BB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    706190 | PA      | $706853.59    | 1.42%             | 2027-02-08      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Coml T                                                             | WFCM 2016-NXS6 B          | CUSIP: 95000KBG9<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $96773.32     | 0.19%             | 2049-11-15      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                            | CGCMT 2017-C4 AS          | CUSIP: 17326FAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    115000 | PA      | $110649.47    | 0.22%             | 2050-10-12      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| N/A                                                                            | CURRENCY CONTRACT - USD   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  13015000 | NC      | $-43845.56    | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Superior Plus LP / Superior General Partner Inc                                | SPBCN 4 1/2 03/15/29      | CUSIP: 86828LAC6<br>LEI: 549300K5Y13GU6TPZJ49 | Long             | DBT              | CORP              | CA        |    588000 | PA      | $565920.48    | 1.14%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                            | CURRENCY CONTRACT - USD   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2140000 | NC      | $-38818.26    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BAMLL COMMERCIAL MORTGAGE SECURITIES TRUST 2022-DKLX                           | BAMLL 2022-DKLX C         | CUSIP: 05530SAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    906906 | PA      | $899485.48    | 1.81%             | 2039-01-15      | Floating      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| CTO Realty Growth Inc New                                                      | CTO REALTY GROWT          | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38079 | NS      | $657243.54    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                               | FHMS K126 X3              | CUSIP: 3137FXYY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1000000 | PA      | $122308.40    | 0.25%             | 2049-01-25      | Floating      | 2.63%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                                          | WFCM 2015-P2 E            | CUSIP: 95000AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $275281.65    | 0.55%             | 2048-12-15      | Floating      | 4.81%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                       | G2 MA9007                 | CUSIP: 36179YAG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    183347 | PA      | $186974.84    | 0.38%             | 2053-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                      | COMM 2013-CR6 F           | CUSIP: 12624XAZ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $59570.73     | 0.12%             | 2046-03-10      | Floating      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Terwin Mortgage Trust                                                          | TMTS 2004-7HE A3          | CUSIP: 881561FX7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    167328 | PA      | $163236.78    | 0.33%             | 2034-07-25      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| iShares Trust                                                                  | ISHARES US REAL           | CUSIP: 464287739<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     20000 | NS      | $1895400.00   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial Inc.                                                        | GNW 0 11/15/36            | CUSIP: 37247DAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1456348.10   | 2.93%             | 2036-11-15      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| Bally's Corporation                                                            | BALLY'S CORP              | CUSIP: 05875B304<br>LEI: 549300NS4D5IK406VT62 | Long             | EC               | CORP              | US        |     25000 | NS      | $239500.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** MUTUAL FUND SERIES TRUST

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer