v3.26.1
Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year)
 12 Months Ended
Dec. 31, 2025
EBP 003  
EBP, Schedule of Asset Held for Investment [Line Items]  
Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year)
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
(a)(b)(c)(d)(e)
Identity of IssuerDescription of InvestmentCost**Current Value
Registered Investment Companies
*PaxMFO IMPAX GLOBAL ENVIRONMENTAL MARKETS47,790,143 
*PIMCOMFO PIMCO INTERNATIONAL BOND FUND (UNHEDGED) INST43,618,835 
Registered Investment Companies Total91,408,978 
Corporate Equities
Potlatchdeltic Corp34,438Shares of Common Stock1,369,944 
Astrazeneca145,965Shares of Common Stock13,418,562 
3I Group76,647Shares of Common Stock3,363,959 
5th 3rd Bancorp206,820Shares of Common Stock9,681,244 
5th 3rd Bancorp82,700Shares of Common Stock3,871,187 
Aalberts NV14,784Shares of Common Stock487,208 
Aar Corp52,398Shares of Common Stock4,338,030 
Aar Corp86,805Shares of Common Stock7,186,586 
Academy Sports & Outdoors Inc82,022Shares of Common Stock4,097,819 
Acadia Pharmaceuticals Inc225,938Shares of Common Stock6,034,804 
Accelerant Holdings65,045Shares of Common Stock1,063,486 
Accenture Plc Cls A27,853Shares of Common Stock7,472,960 
Acerinox SA54,814Shares of Common Stock815,004 
Addus Homecare Corp20,424Shares of Common Stock2,193,333 
Ascendis Pharma A/s90,670Shares of Common Stock19,334,471 
Legend Biotech Corp Spon125,260Shares of Common Stock2,723,152 
Taiwan Semiconductor Manufacturing32,555Shares of Common Stock9,893,139 
Tencent Hldgs Ltd Adr93,407Shares of Common Stock7,150,306 
Advance Res Inv467Shares of Common Stock510,663 
Advanced Micro Devices Inc99,312Shares of Common Stock21,268,658 
Aena Sme S.a.58,768Shares of Common Stock1,644,058 
Agco Corp111,957Shares of Common Stock11,679,354 
Agilysys Inc19,586Shares of Common Stock2,327,600 
Agree Rlty Corp15,807Shares of Common Stock1,138,578 
Aia Group Ltd806,200Shares of Common Stock8,275,889 
Air Liquide(l')39,349Shares of Common Stock7,406,166 
Airbus SE15,524Shares of Common Stock3,617,261 
Alamo Group Inc12,709Shares of Common Stock2,133,460 
Align Technology Inc8,400Shares of Common Stock1,311,660 
Alleima AB94,855Shares of Common Stock842,179 
Allfunds GP Plc54,800Shares of Common Stock517,775 
Alliant Energy Corp52,700Shares of Common Stock3,426,027 
Allianz SE7,889Shares of Common Stock3,618,075 
Allstate Corp110,257Shares of Common Stock22,949,995 
Alnylam Pharmaceuticals Inc9,580Shares of Common Stock3,809,487 
Alphabet Inc Cap211,724Shares of Common Stock66,438,991 
Alten5,555Shares of Common Stock472,669 
Amazon141,533Shares of Common Stock32,668,647 
Amentum Hldgs Inc110,185Shares of Common Stock3,195,365 
Ameren Corp232,794Shares of Common Stock23,246,809 
American Healthcare Reit Inc28,252Shares of Common Stock1,329,539 
American Homes 4 Rent79,791Shares of Common Stock2,561,291 
American International Group Inc196,388Shares of Common Stock16,800,993 
American Tower7,923Shares of Common Stock1,391,041 
Ametek Inc New37,490Shares of Common Stock7,697,072 
Amorepacific Holdings23,492Shares of Common Stock437,861 
Amotiv Limited83,746Shares of Common Stock500,939 
Ansell29,787Shares of Common Stock695,420 
Applied Materials Inc62,323Shares of Common Stock16,016,388 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Arcbest Corp42,563Shares of Common Stock3,157,749 
Archer-daniels-midland CO53,600Shares of Common Stock3,081,464 
Arclands Corp33,214Shares of Common Stock409,388 
Ares Management LP79,340Shares of Common Stock12,823,724 
Argan4,401Shares of Common Stock341,138 
Arjo AB Ser'b'npv71,788Shares of Common Stock249,344 
Artivion Inc169,024Shares of Common Stock7,709,185 
AS One Corporation44,375Shares of Common Stock680,580 
Asml Holding NV2,070Shares of Common Stock2,240,026 
Asmodee Group AB51,798Shares of Common Stock595,249 
Asmpt Ltd78,054Shares of Common Stock776,679 
Atea Asa56,004Shares of Common Stock876,134 
Atlantic UN Bankshares Corp126,230Shares of Common Stock4,455,919 
Atlassian Corp45,440Shares of Common Stock7,367,642 
Atmus Filtration Technologies Inc83,805Shares of Common Stock4,350,318 
Aub Group16,758Shares of Common Stock344,192 
Aurubis AG4,800Shares of Common Stock700,160 
Austria Tech Systemtechnik25,059Shares of Common Stock947,664 
Auto1 Grp20,300Shares of Common Stock650,869 
Autozone Inc3,366Shares of Common Stock11,415,789 
Avalonbay Cmntys23,167Shares of Common Stock4,200,409 
Avanza Bank Hldg29,544Shares of Common Stock1,131,599 
Avio Spa13,600Shares of Common Stock468,794 
Avista Corp114,634Shares of Common Stock4,417,994 
Axa SA120,962Shares of Common Stock5,818,935 
Axon Enterprise Inc31,953Shares of Common Stock18,147,067 
Azbil Corp77,820Shares of Common Stock706,236 
Az-com Maruwa Hldg31,489Shares of Common Stock198,282 
Azz Inc31,275Shares of Common Stock3,352,055 
B & M European Value Retail SA126,428Shares of Common Stock287,048 
Babcock Intl Group451,026Shares of Common Stock7,540,692 
Babcock Intl Group51,315Shares of Common Stock857,934 
Balfour Beatty124,033Shares of Common Stock1,186,166 
Banca Generali19,937Shares of Common Stock1,339,339 
Banco Actinver SA Cbfi84,324Shares of Common Stock353,814 
Bank OF America793,561Shares of Common Stock43,645,855 
Bankinter SA Eur0.30(regd)87,086Shares of Common Stock1,447,747 
Banner Corp69,484Shares of Common Stock4,353,867 
Barry Callebaut AG Chf62.2000557Shares of Common Stock918,198 
Baxter Intl Inc211,800Shares of Common Stock4,047,498 
BE Semiconductor Industries NV3,285Shares of Common Stock516,017 
Beazley Plc94,072Shares of Common Stock1,052,743 
Bechtle AG16,751Shares of Common Stock859,326 
Becton Dickinson & CO65,736Shares of Common Stock12,757,386 
Bezeq Israel Telcm464,546Shares of Common Stock1,034,738 
Bff Bank S.p.a.394,128Shares of Common Stock4,397,395 
Bilfinger SE Bilfinger11,443Shares of Common Stock1,443,374 
Binggrae11,357Shares of Common Stock587,343 
Bio Rad Laboratories Inc CL A9,200Shares of Common Stock2,787,508 
Biogen Inc16,500Shares of Common Stock2,903,835 
Blackline Inc80,700Shares of Common Stock4,461,903 
Blue Bird Corp87,383Shares of Common Stock4,107,001 
Bnp Paribas98,588Shares of Common Stock9,354,407 
Boeing CO93,321Shares of Common Stock20,261,856 
Boise Cascade CO30,542Shares of Common Stock2,247,891 
Boot Barn Hldgs Inc11,751Shares of Common Stock2,073,699 
Bqe Cant Vaudoise Chf16,396Shares of Common Stock810,550 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Brembo N.v.68,809Shares of Common Stock760,852 
Bristol Myers Squibb CO241,577Shares of Common Stock13,030,663 
British Land CO194,402Shares of Common Stock1,055,858 
Brown-forman Inc CL B Non-vtg84,500Shares of Common Stock2,202,070 
Bucher Industries Chf0.202,108Shares of Common Stock980,496 
Burberry Group54,262Shares of Common Stock926,181 
Burlington Stores Inc32,250Shares of Common Stock9,315,413 
Cadre Hldgs Inc91,168Shares of Common Stock3,723,301 
Caixabank SA65,953Shares of Common Stock809,054 
Camtek Ltd616Shares of Common Stock65,509 
Capitaland Integrated884,400Shares of Common Stock1,643,636 
Cardinal Infrastructure Group Inc22,068Shares of Common Stock533,604 
Casella Waste Sys Inc56,865Shares of Common Stock5,569,358 
Cdl Hospitality TR767,254Shares of Common Stock498,178 
Cdn Apartment Prop Trust Units30,283Shares of Common Stock814,543 
Cencora32,120Shares of Common Stock10,848,530 
Cent Garden & Pet CO72,204Shares of Common Stock2,107,635 
Centene Corp Del97,334Shares of Common Stock4,005,294 
Centurion Accommod429,000Shares of Common Stock370,288 
Century Cmntys Inc69,244Shares of Common Stock4,109,631 
CF Inds Hldgs Inc147,700Shares of Common Stock11,423,118 
Charter8,200Shares of Common Stock1,711,750 
Chartwell Retireme Trust Units41,755Shares of Common Stock612,275 
Cheesecake Factory Inc63,611Shares of Common Stock3,211,083 
Chubb Ltd115,818Shares of Common Stock36,149,114 
Cie Automotive SA21,343Shares of Common Stock745,722 
Cisco Systems42,600Shares of Common Stock3,281,478 
Citigroup Inc242,685Shares of Common Stock28,318,913 
City Developments83,300Shares of Common Stock518,196 
City Hldg CO35,665Shares of Common Stock4,251,268 
Clarivate579,200Shares of Common Stock1,934,528 
Close Bros Group137,866Shares of Common Stock968,907 
Cloudflare Inc55,230Shares of Common Stock10,888,595 
Cnh Industrial NV234,800Shares of Common Stock2,164,856 
Coastal Finl Corp WA20,227Shares of Common Stock2,317,812 
Coca Cola CO337,751Shares of Common Stock23,612,172 
Cognizant Tech Solutions Corp40,200Shares of Common Stock3,336,600 
Coherent Corp20,900Shares of Common Stock3,857,513 
Colgate-palmolive CO346,358Shares of Common Stock27,369,209 
Comfort Sys Usa Inc6,510Shares of Common Stock6,075,718 
Commercial Metals CO42,900Shares of Common Stock2,969,538 
Compass Inc CL A186,760Shares of Common Stock1,974,053 
Conagra Brands Inc291,000Shares of Common Stock5,037,210 
Conocophillips395,457Shares of Common Stock37,018,730 
Constellation Brands Inc CL A27,700Shares of Common Stock3,821,492 
Constr Y Aux Ferro12,702Shares of Common Stock878,662 
Contact Energy147,960Shares of Common Stock787,031 
Contemporary Amper Cny1 H Shs154,400Shares of Common Stock10,027,520 
Convatec Group Plc204,675Shares of Common Stock669,525 
Copt Defense Properties153,084Shares of Common Stock4,255,735 
Copt Defense Properties19,331Shares of Common Stock537,402 
Corpay Inc12,900Shares of Common Stock3,881,997 
Cousins Pptys43,924Shares of Common Stock1,132,361 
Crh43,708Shares of Common Stock5,454,758 
Crown Hldgs Inc36,400Shares of Common Stock3,748,108 
Csx Corp177,580Shares of Common Stock6,437,275 
Csx Corp948,717Shares of Common Stock34,390,991 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Ctp N.v24,372Shares of Common Stock510,647 
Cummins24,021Shares of Common Stock12,261,519 
Curbline Pptys41,635Shares of Common Stock966,348 
Cvs Health Corp319,349Shares of Common Stock25,343,537 
Daeduck Electronic25,045Shares of Common Stock818,867 
Daiei Kankyo CO LT21,800Shares of Common Stock540,323 
Daihatsu Infinearth Mfg CO43,180Shares of Common Stock698,340 
Daiichikosho CO55,072Shares of Common Stock592,021 
Daiwa House Reit Investment CO858Shares of Common Stock783,857 
Daiwa Securities Living Investment Corporation903Shares of Common Stock657,324 
Daiwabo Holdings32,800Shares of Common Stock644,721 
Danone46,653Shares of Common Stock4,206,901 
Danske Bank A/s189,589Shares of Common Stock9,497,933 
DB Insurance CO Ltd10,219Shares of Common Stock930,000 
Dcc10,862Shares of Common Stock676,440 
Deutsche Boerse AG14,862Shares of Common Stock3,904,611 
Dexcom Inc113,634Shares of Common Stock7,541,889 
Dexerials Corp36,737Shares of Common Stock616,053 
Diamondback Energy Inc37,430Shares of Common Stock5,626,852 
Digital Rlty TR Inc15,885Shares of Common Stock2,457,568 
DL E&c CO Ltd10,246Shares of Common Stock292,682 
Dollar Gen Corp New8,300Shares of Common Stock1,101,991 
Dollar Tree Inc21,530Shares of Common Stock2,648,405 
Dometic Group AB94,404Shares of Common Stock479,864 
Dominion Energy Inc90,200Shares of Common Stock5,284,818 
Donnelley Finl Solutions Inc45,356Shares of Common Stock2,117,672 
Doordash Inc CL A45,200Shares of Common Stock10,236,896 
Dowa Holdings CO16,777Shares of Common Stock795,475 
Draegerwerk Kgaa Non-vtg Prf13,122Shares of Common Stock1,069,533 
Draftkings Inc New255,140Shares of Common Stock8,792,124 
Dyno Nobel Limited367,412Shares of Common Stock786,478 
East Japan Railway CO16,800Shares of Common Stock442,870 
Eastgroup Pptys Inc10,436Shares of Common Stock1,859,069 
Elementis230,213Shares of Common Stock514,016 
Elevance Health102,319Shares of Common Stock35,867,925 
Elia Group31,142Shares of Common Stock4,012,247 
Elis SA34,943Shares of Common Stock995,602 
Empire ST Rlty TR Inc CL A83,749Shares of Common Stock546,043 
Enel Spa403,810Shares of Common Stock4,209,959 
Eog Resources Inc88,887Shares of Common Stock9,334,024 
Eqty Lifestyle Pptys Inc24,558Shares of Common Stock1,488,460 
Equinix Inc9,443Shares of Common Stock7,234,849 
Equitable Hldgs Inc296,076Shares of Common Stock14,108,021 
Essex Ppty TR8,308Shares of Common Stock2,174,037 
Euroapi SA55,486Shares of Common Stock147,926 
Eurocommercial31,839Shares of Common Stock974,096 
Europris Asa123,432Shares of Common Stock1,172,297 
Evergy Inc70,000Shares of Common Stock5,074,300 
Everpure Inc56,620Shares of Common Stock3,794,106 
Everus Constr Group Inc22,805Shares of Common Stock1,951,196 
Everus Constr Group Inc51,179Shares of Common Stock4,378,875 
Evolution Mining180,586Shares of Common Stock1,526,973 
Evraz Plc234,412Shares of Common Stock255,043 
Expand Energy26,400Shares of Common Stock2,913,504 
Expand Energy91,200Shares of Common Stock10,064,832 
Extra Space Storage Inc35,394Shares of Common Stock4,609,007 
Exxon Mobil Corp188,978Shares of Common Stock22,741,613 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
F&g Annuities & Life Inc3,530Shares of Common Stock108,896 
Fagron41,054Shares of Common Stock1,026,998 
Fair Isaac Corporation4,456Shares of Common Stock7,533,403 
Fastighets AB Bald Ser'b'npv196,682Shares of Common Stock1,455,039 
FB Finl Corp71,187Shares of Common Stock3,972,235 
Fidelity Natl Finl Inc New Formerly Fidelity61,631Shares of Common Stock3,364,436 
First Advantage Corp New229,180Shares of Common Stock3,329,985 
First Bancorp N C85,222Shares of Common Stock4,328,425 
First Ctzns Bancshares Inc CL A2,335Shares of Common Stock5,011,330 
First Watch Restaurant Group Inc158,037Shares of Common Stock2,383,198 
Firstservice Corp55,618Shares of Common Stock8,650,268 
Fiserv Inc36,000Shares of Common Stock2,418,120 
Flsmidth & CO A/s Ser'b'dkk208,200Shares of Common Stock573,778 
Fluidra SA22,157Shares of Common Stock602,676 
Fluor Corp New55,100Shares of Common Stock2,183,613 
Forbo Hldgs AG Chf28(regd)712Shares of Common Stock785,469 
Fortive Corp372,784Shares of Common Stock20,581,405 
Fortum Oyj50,242Shares of Common Stock1,072,742 
Four Corners Ppty TR Inc190,358Shares of Common Stock4,389,655 
FP Corp31,266Shares of Common Stock524,607 
Fuyo General Lease11,454Shares of Common Stock313,707 
Galilei CO26,044Shares of Common Stock631,390 
Gallagher Arthur J & CO19,015Shares of Common Stock4,920,892 
Gaming & Leisure Pptys Inc104,320Shares of Common Stock4,662,061 
Gaming & Leisure Pptys Inc36,084Shares of Common Stock1,612,594 
Garmin Ltd35,530Shares of Common Stock7,207,261 
GE Aerospace57,607Shares of Common Stock17,744,684 
Gift Holdings26,603Shares of Common Stock570,264 
Glaukos Corp29,938Shares of Common Stock3,380,300 
Global Pmts Inc50,200Shares of Common Stock3,885,480 
Glp J-reit829Shares of Common Stock787,509 
Goodman Group247,914Shares of Common Stock5,121,659 
Grainger Plc267,746Shares of Common Stock656,160 
Graphic Packaging Hldg CO374,900Shares of Common Stock5,645,994 
Grifols66,722Shares of Common Stock838,470 
Gulfport Energy Corp10,574Shares of Common Stock2,199,286 
Gvs Spa118,582Shares of Common Stock541,059 
H.u. Group Holdings32,489Shares of Common Stock700,997 
Halliburton CO128,200Shares of Common Stock3,622,932 
Hamilton Lane Inc CL A30,505Shares of Common Stock4,097,127 
Hanwha Aerospace CO15,030Shares of Common Stock9,817,938 
Hawkins Inc25,714Shares of Common Stock3,652,931 
Hayward Hldgs Inc279,913Shares of Common Stock4,324,656 
HD Hyundai Electric & Energy System CO Ltd5,368Shares of Common Stock2,884,198 
Healthpeak OP Llc135,830Shares of Common Stock2,184,146 
Henry Schein Inc43,700Shares of Common Stock3,302,846 
Hensoldt AG9,600Shares of Common Stock827,565 
HF Sinclair Corporation58,800Shares of Common Stock2,709,504 
Hill & Smith Plc30,413Shares of Common Stock875,410 
Hilton Worldwide Hldgs Inc2,692Shares of Common Stock773,277 
Hilton Worldwide Hldgs Inc37,610Shares of Common Stock10,803,473 
Hiscox50,382Shares of Common Stock964,315 
Hitachi11,000Shares of Common Stock344,011 
Hokuhoku Financial39,020Shares of Common Stock1,142,632 
Home Depot Inc74,604Shares of Common Stock25,671,236 
Hosokawa Micron CO23,124Shares of Common Stock832,048 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Howmet Aerospace Inc107,280Shares of Common Stock21,994,546 
Hsbc Hldgs122,654Shares of Common Stock1,936,486 
Hsbc Holdings Plc217,600Shares of Common Stock3,421,885 
Hubspot Inc17,950Shares of Common Stock7,203,335 
Huhtamaki Oyj Ser'i'npv16,274Shares of Common Stock568,421 
Hunt J B Trans Svcs Inc33,740Shares of Common Stock6,557,032 
Huntington Bancshares Inc862,237Shares of Common Stock14,959,812 
Huntington Ingalls Inds Inc11,000Shares of Common Stock3,740,770 
Hyatt Hotels Corp5,102Shares of Common Stock817,953 
Hyosung Heavy Indu3,203Shares of Common Stock3,959,976 
Hysan Development189,927Shares of Common Stock461,183 
Iac Inc116,995Shares of Common Stock4,574,505 
Ibstock Plc235,197Shares of Common Stock441,627 
Icg24,549Shares of Common Stock678,223 
Idexx Labs Inc10,788Shares of Common Stock7,298,406 
Imdex Ltd413,664Shares of Common Stock948,930 
Impinj Inc6,692Shares of Common Stock1,164,475 
Inaba Denkisangyo61,438Shares of Common Stock999,306 
Inchcape81,520Shares of Common Stock843,197 
Infinity Nat Res Inc CL A116,339Shares of Common Stock1,713,673 
Inmode Ltd55,616Shares of Common Stock816,999 
Innospec Inc31,548Shares of Common Stock2,414,684 
Insulet Corp29,169Shares of Common Stock8,290,997 
Intel Corp235,557Shares of Common Stock8,692,053 
International Workplace Group Plc189,000Shares of Common Stock588,252 
Interparfums36,960Shares of Common Stock3,135,317 
Intl Paper CO497,532Shares of Common Stock19,597,785 
Invincible Investments Corp1,133Shares of Common Stock465,503 
Invitation Homes Inc93,349Shares of Common Stock2,594,169 
Ionis Pharmaceuticals Inc1,455Shares of Common Stock115,105 
Ipsos9,433Shares of Common Stock379,552 
Iqvia Hldgs Inc13,100Shares of Common Stock2,952,871 
Irhythm Holdings21,474Shares of Common Stock3,810,347 
Iron Mtn Inc New15,108Shares of Common Stock1,253,209 
J & J Snack Foods Corp25,645Shares of Common Stock2,317,539 
Jacobs Solutions Inc7,600Shares of Common Stock1,006,696 
Japan Post Bank CO243,900Shares of Common Stock3,437,271 
Japan Real Estate Investment CO578Shares of Common Stock482,696 
Japan Steel Works Ltd9,120Shares of Common Stock446,792 
Jazz Pharmaceuticals Plc13,200Shares of Common Stock2,244,000 
Johnson & Johnson116,503Shares of Common Stock24,110,296 
Jtc Plc42,542Shares of Common Stock734,719 
Jungheinrich Non-vtg Prf19,708Shares of Common Stock819,834 
Kamigumi CO Ltd29,235Shares of Common Stock943,756 
Kbc Ancora13,000Shares of Common Stock1,119,134 
Kemira Oyj27,633Shares of Common Stock635,441 
Keppel DC302,849Shares of Common Stock529,868 
Keppel Ltd95,900Shares of Common Stock771,823 
Keysight Technologies Inc85,847Shares of Common Stock17,443,252 
Kilroy Rlty Corp25,671Shares of Common Stock959,325 
Kinder Morgan Inc Del97,800Shares of Common Stock2,688,522 
Kinepolis Group3,990Shares of Common Stock140,582 
Kissei Pharm CO15,961Shares of Common Stock473,499 
Klepierre42,939Shares of Common Stock1,701,499 
Knife Riv Hldg CO46,516Shares of Common Stock3,272,401 
Korea Elec Power200,859Shares of Common Stock6,581,198 
Kotobuki Spirits51,884Shares of Common Stock606,739 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Kraft Heinz CO235,500Shares of Common Stock5,710,875 
Kratos Defense & Security Solutions36,652Shares of Common Stock2,782,253 
Krones AG4,801Shares of Common Stock765,713 
Kyoto Financial Group Inc.42,300Shares of Common Stock924,828 
Kyushu Railway Cor27,106Shares of Common Stock704,519 
L3harris Technologies Inc90,929Shares of Common Stock26,694,027 
Lanxess AG18,842Shares of Common Stock389,913 
Las Vegas Sands Corp161,870Shares of Common Stock10,536,118 
Leg Immobilien18,243Shares of Common Stock1,333,737 
Legence Corp CL A64,164Shares of Common Stock2,761,619 
LG Innotek CO4,153Shares of Common Stock781,273 
Liberty Global Ltd.193,000Shares of Common Stock2,150,020 
Lig Nex1 CO Ltd42,630Shares of Common Stock12,458,596 
Linde27,200Shares of Common Stock11,597,808 
Lindsay Corporation18,317Shares of Common Stock2,159,025 
Lithia Mtrs Inc6,300Shares of Common Stock2,093,679 
Live Nation Entertainment82,270Shares of Common Stock11,723,475 
Lkq Corp189,700Shares of Common Stock5,728,940 
Lloyds Banking GP5,835,023Shares of Common Stock7,710,267 
Loar Holdings Inc44,354Shares of Common Stock3,016,072 
Logista Integral S A22,812Shares of Common Stock806,962 
Loomis AK23,219Shares of Common Stock983,284 
Lpl Finl Hldgs Inc27,990Shares of Common Stock9,997,188 
LS Electric CO34,249Shares of Common Stock10,936,476 
Maeda Kosen Co.ltd36,175Shares of Common Stock456,500 
Magnolia Oil & Gas Corp CL A107,059Shares of Common Stock2,343,522 
Magnum Ice Cream C80,423Shares of Common Stock1,273,737 
Markel Group2,000Shares of Common Stock4,299,300 
Marr Spa39,537Shares of Common Stock418,837 
Maruwa CO Ltd2,635Shares of Common Stock716,138 
Marvell Technology Inc66,790Shares of Common Stock5,675,814 
Masimo Corp38,560Shares of Common Stock5,015,114 
Match Group Inc New103,300Shares of Common Stock3,335,557 
Mayr-melnhof Karto3,697Shares of Common Stock403,366 
Mdu Res Group Inc90,177Shares of Common Stock1,760,255 
ME Group International Plc262,921Shares of Common Stock533,999 
Medacta Group SA17,586Shares of Common Stock3,471,695 
Meidensha Corp17,052Shares of Common Stock605,950 
Meitec Group Holdings Inc29,419Shares of Common Stock665,538 
Melrose Indust Plc1,099,662Shares of Common Stock8,703,028 
Melrose Indust Plc83,134Shares of Common Stock657,945 
Merck & CO Inc New215,728Shares of Common Stock22,707,529 
Merit Med Sys Inc48,497Shares of Common Stock4,274,526 
Merlin Properties91,683Shares of Common Stock1,338,426 
Meta Platforms Inc13,800Shares of Common Stock9,109,242 
Metlife Inc383,095Shares of Common Stock30,241,519 
Microsoft Corp38,150Shares of Common Stock18,450,103 
Middleby Corp71,030Shares of Common Stock10,560,030 
Misto Holdings Corporation26,811Shares of Common Stock794,717 
Mitie Group513,684Shares of Common Stock1,149,709 
Mitsubishi Estate CO126,500Shares of Common Stock3,083,712 
*Mitsubishi Ufj Fin370,500Shares of Common Stock5,892,733 
Mitsui Fudosan Accommodations Fund Inc409Shares of Common Stock350,694 
Mitsui Fudosan CO Ltd116,859Shares of Common Stock1,327,426 
Mitsui Fudosan CO Ltd264,400Shares of Common Stock3,003,376 
Mnc Solution CO LT8,099Shares of Common Stock802,844 
Molina Healthcare Inc9,000Shares of Common Stock1,561,860 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Molson Coors Beverage93,900Shares of Common Stock4,383,252 
Mongodb Inc CL A16,840Shares of Common Stock7,067,580 
Montrose Environmental Group Inc145,040Shares of Common Stock3,601,343 
Moodys Corp12,580Shares of Common Stock6,426,493 
Moog Inc17,908Shares of Common Stock4,361,493 
*Morgan Stanley1,369Shares of Common Stock243,039 
*Morgan Stanley24,994,268Shares of Common Stock4,437,232,397 
Mosaic Co/the189,100Shares of Common Stock4,555,419 
Msci Inc20,149Shares of Common Stock11,560,086 
Mtu Aero Engines A13,788Shares of Common Stock5,753,486 
Myr Group Inc Del11,550Shares of Common Stock2,523,675 
Nagaileben CO24,107Shares of Common Stock276,374 
Namen-akt Belimo Holding AG779Shares of Common Stock767,938 
Namen-akt VZ Holding6,628Shares of Common Stock1,249,887 
Natera Inc32,625Shares of Common Stock7,474,061 
Natera Inc41,220Shares of Common Stock9,443,090 
National BK Hldgs Corp90,820Shares of Common Stock3,452,068 
National Grid1,102,174Shares of Common Stock16,922,501 
Ncino Inc New141,334Shares of Common Stock3,623,804 
Neogen Corp100,581Shares of Common Stock703,061 
Nestle9,336Shares of Common Stock927,885 
Newmark Group Inc CL A146,580Shares of Common Stock2,541,697 
News Corp130,105Shares of Common Stock3,398,343 
News Corp359,430Shares of Common Stock9,388,312 
Nextage CO Ltd57,741Shares of Common Stock1,018,558 
Nextdc Ltd108,847Shares of Common Stock909,485 
Nib Holdings Ltd196,336Shares of Common Stock898,157 
Nice Information S60,116Shares of Common Stock709,432 
Nichias Corp14,000Shares of Common Stock605,212 
Nikon Corp32,200Shares of Common Stock358,269 
Nippon Building FD1,243Shares of Common Stock1,133,208 
Nippon Prologis RE1,505Shares of Common Stock891,987 
Nippon Sanso Holdings94,106Shares of Common Stock2,802,557 
Nitto Kohki CO Ltd21,144Shares of Common Stock248,340 
Nkt A/s33,429Shares of Common Stock4,197,285 
Noba BK Group AB (33,700Shares of Common Stock430,627 
Noble Corporation Plc60,900Shares of Common Stock1,719,816 
Norma Group SE16,260Shares of Common Stock278,428 
Northern Oil & Gas Inc194,568Shares of Common Stock4,177,375 
Northwestern Energy Group50,076Shares of Common Stock3,231,905 
Novanta Inc Novanta25,140Shares of Common Stock2,991,409 
Nsd CO Ltd33,780Shares of Common Stock746,524 
OC Oerlikon Corp Chf150,902Shares of Common Stock207,784 
Odfjell Drilling Limited162,796Shares of Common Stock1,412,200 
Oge Energy Corp65,892Shares of Common Stock2,813,588 
Okinawa Cellular37,722Shares of Common Stock681,545 
Ollies Bargain Outlet Hldgs Inc28,833Shares of Common Stock3,160,385 
Omnicom Group Inc22,100Shares of Common Stock1,784,575 
Outokumpu Oyj Ser'a'npv113,609Shares of Common Stock597,758 
Pacific Basin Ship1,822,090Shares of Common Stock545,445 
Palomar Hldgs Inc26,421Shares of Common Stock3,560,494 
Paltac Corporation21,977Shares of Common Stock676,366 
Patrizia SE56,452Shares of Common Stock539,682 
Penta Ocean Const121,825Shares of Common Stock1,224,507 
Perella Weinberg Partners127,636Shares of Common Stock2,208,103 
Perrigo309,000Shares of Common Stock4,301,280 
Pets AT Home Group142,888Shares of Common Stock380,539 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Philip Morris Intl134,241Shares of Common Stock21,532,256 
Piper Sandler12,894Shares of Common Stock4,380,221 
Piper Sandler7,042Shares of Common Stock2,392,238 
Piraeus Bank SA552,071Shares of Common Stock4,405,093 
Pirelli & C Spa60,900Shares of Common Stock418,845 
Planet Fitness Inc CL A50,663Shares of Common Stock5,495,416 
Playtech Plc123,400Shares of Common Stock470,551 
Post Hldgs Inc18,875Shares of Common Stock1,869,569 
Power Integrations Inc61,399Shares of Common Stock2,182,120 
Ppg Ind Inc43,700Shares of Common Stock4,477,502 
Prestige Consumer Healthcare Inc71,184Shares of Common Stock4,391,341 
Procter & Gamble229,415Shares of Common Stock32,877,464 
Progyny Inc208,563Shares of Common Stock5,355,898 
Prologis Inc47,430Shares of Common Stock6,054,914 
Prudential Plc254,659Shares of Common Stock3,920,246 
Psp Swiss Property Chf0.106,633Shares of Common Stock1,201,433 
Puuilo Oyj51,542Shares of Common Stock767,565 
Databricks Inc.470,619Shares of Common Stock86,575,071 
Qualcomm Inc140,524Shares of Common Stock24,036,630 
Quanta Svcs Inc18,810Shares of Common Stock7,938,949 
Radnet Inc72,259Shares of Common Stock5,155,680 
Rai Way Spa78,802Shares of Common Stock517,349 
Rathbones Group30,639Shares of Common Stock795,372 
Recordati17,903Shares of Common Stock1,020,611 
Regency Ctrs Corp37,603Shares of Common Stock2,595,735 
Relo Group37,130Shares of Common Stock406,370 
Relx20,916Shares of Common Stock849,619 
Renasant Corp124,539Shares of Common Stock4,386,264 
Resonac Holdings Corp28,433Shares of Common Stock1,183,794 
Revolution Medicines Inc39,080Shares of Common Stock3,112,722 
Rexel32,942Shares of Common Stock1,299,555 
Rexford Indl Rlty Inc56,560Shares of Common Stock2,190,003 
Rinnai Corp21,254Shares of Common Stock536,960 
Robinhood Mkts Inc33,180Shares of Common Stock3,752,658 
Roblox Corp49,210Shares of Common Stock3,987,486 
Rocket Lab Corp86,980Shares of Common Stock6,067,725 
Rockwell Automation23,110Shares of Common Stock8,991,408 
Rockwell Automation30,068Shares of Common Stock11,698,557 
Roland Corporation17,676Shares of Common Stock402,586 
Royal Caribbean Group48,340Shares of Common Stock13,482,993 
Rpm Intl108,979Shares of Common Stock11,333,816 
RS Group Plc48,784Shares of Common Stock409,450 
Rwe AG54,393Shares of Common Stock2,891,293 
Rxo Inc130,176Shares of Common Stock1,645,425 
Ryman Hospitality Pptys Inc9,724Shares of Common Stock920,085 
S-1 Corporation15,044Shares of Common Stock752,957 
Sabra Health Care Reit Inc106,289Shares of Common Stock2,013,114 
Sacyr SA100,700Shares of Common Stock457,221 
Saf Holland32,517Shares of Common Stock584,301 
Safestore Hldgs91,864Shares of Common Stock909,414 
Safran SA21,647Shares of Common Stock7,560,896 
Sainsbury(j)1,617,289Shares of Common Stock7,069,838 
Salesforce Inc79,913Shares of Common Stock21,169,753 
Sam Yung Trading41,924Shares of Common Stock466,517 
Samsara Inc CL A206,560Shares of Common Stock7,322,552 
Samsung E&a CO Ltd27,270Shares of Common Stock455,273 
Samsung Electronic Gdr Each Rep 2512,439Shares of Common Stock25,698,974 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Samsung Electronic Gdr Each Rep 25807Shares of Common Stock1,667,262 
Samsung Electronics CO75,409Shares of Common Stock6,276,449 
San-ai Obbli CO Ltd43,014Shares of Common Stock579,576 
Sandfire Resources66,380Shares of Common Stock793,238 
Sanofi114,085Shares of Common Stock5,528,559 
Santen Pharm CO72,336Shares of Common Stock750,380 
Sanwa Holdings30,273Shares of Common Stock787,799 
Saul Ctrs Inc4,491Shares of Common Stock141,601 
Savills54,494Shares of Common Stock730,040 
Sawai Group Holdings CO46,853Shares of Common Stock705,134 
Sberbank OF Russia Spon Adr260,208Shares of Common Stock11,787 
Scentre Group560,459Shares of Common Stock1,569,717 
Schwab Charles Corp455,140Shares of Common Stock45,473,037 
Scout24 SE5,118Shares of Common Stock515,730 
Seacoast Bkg Corp Fla134,299Shares of Common Stock4,219,675 
Seb SA3,493Shares of Common Stock202,246 
Sega Sammy Hldgs I31,427Shares of Common Stock490,818 
Segro Plc69,797Shares of Common Stock676,315 
Sekisui House Reit1,421Shares of Common Stock815,911 
Sekisui Jushi Corp31,140Shares of Common Stock423,359 
Sempra191,146Shares of Common Stock16,876,280 
Semtech Corp76,800Shares of Common Stock5,659,392 
Semtech Corp84,160Shares of Common Stock6,201,750 
Senior Plc382,575Shares of Common Stock1,002,407 
Sensient Technologies Corp46,352Shares of Common Stock4,354,770 
Sensirion Hldg AG3,967Shares of Common Stock308,447 
Sgs SA Chf0.0451,637Shares of Common Stock5,922,042 
Shangri-la Asia528,888Shares of Common Stock322,762 
Ship Healthcare Holdings Inc30,855Shares of Common Stock516,629 
Shoei CO Ltd42,145Shares of Common Stock477,793 
Siemens AG58,017Shares of Common Stock16,295,220 
Siemens Healthinee103,234Shares of Common Stock5,446,244 
Simmons First Natl Corp CL A $0.01 Par CL A $0.01 Par234,001Shares of Common Stock4,410,919 
Simon Property Group Inc11,415Shares of Common Stock2,113,031 
Singapore Technologies Engineering79,072Shares of Common Stock517,719 
Sirius XM Hldgs Inc New164,106Shares of Common Stock3,281,299 
Siteone Landscape Supply Inc30,599Shares of Common Stock3,811,411 
Sitime Corp2,134Shares of Common Stock753,707 
SL Corporation20,158Shares of Common Stock599,611 
Slb Limited302,113Shares of Common Stock11,595,097 
Smc Corp6,900Shares of Common Stock2,397,359 
Snowflake Inc CL A32,820Shares of Common Stock7,199,395 
Sojitz Corporation9,100Shares of Common Stock282,559 
Sonic Automotive Inc35,498Shares of Common Stock2,195,906 
Sopra Steria Group2,300Shares of Common Stock417,611 
Soulbrain CO Ltd4,326Shares of Common Stock786,791 
Southern CO269,533Shares of Common Stock23,503,278 
Sparebank 1 Smn54,906Shares of Common Stock1,121,597 
Spie SA156,230Shares of Common Stock9,038,439 
Sps7,789Shares of Common Stock694,234 
Ss&c Technologies Hldgs Inc23,200Shares of Common Stock2,028,144 
Sse Plc209,332Shares of Common Stock6,135,237 
ST James's Place26,900Shares of Common Stock500,938 
Stabilus SE12,687Shares of Common Stock304,710 
Standex Intl Corp19,249Shares of Common Stock4,182,423 
Stanley Black & Decker Inc255,479Shares of Common Stock18,976,980 
Steadfast Group257,105Shares of Common Stock905,258 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Stepan CO46,263Shares of Common Stock2,191,016 
Stepstone Group Inc CL A115,163Shares of Common Stock7,390,010 
Sterling Infrastructure Inc8,390Shares of Common Stock2,569,270 
Stockland489,348Shares of Common Stock1,869,823 
Sumco Corporation69,911Shares of Common Stock640,035 
Sumitomo Realty & Development57,000Shares of Common Stock1,429,864 
Sun Hung Kai Prop134,591Shares of Common Stock1,637,537 
Sunstone Hotel Invs Inc New253,730Shares of Common Stock2,268,346 
Suruga Bank118,710Shares of Common Stock1,294,302 
Swire Properties Ltd362,600Shares of Common Stock977,369 
Symrise AG45,115Shares of Common Stock3,649,629 
Tag Immobilien AG51,648Shares of Common Stock802,505 
Tapestry Inc96,270Shares of Common Stock12,300,418 
Targa Res Corp21,120Shares of Common Stock3,896,640 
TD Synnex Corporation19,800Shares of Common Stock2,974,554 
TE Connectivity Plc17,957Shares of Common Stock4,085,397 
Tecan Group AG Chf0.101,135Shares of Common Stock184,093 
Tencent Hldgs Ltd92,900Shares of Common Stock7,149,367 
Tesco2,334,998Shares of Common Stock13,875,566 
Texas Instruments Inc103,108Shares of Common Stock17,888,207 
Tgs60,711Shares of Common Stock551,625 
The Baldwin Insurance Group Inc177,490Shares of Common Stock4,265,085 
The Campbells79,900Shares of Common Stock2,226,813 
The Cigna Group51,893Shares of Common Stock14,282,510 
The Hartford Insurance Group Inc129,339Shares of Common Stock17,822,914 
Thermo Fisher Scientific Inc15,840Shares of Common Stock9,178,488 
Thermon Group Hldgs65,149Shares of Common Stock2,420,937 
Timee Inc27,942Shares of Common Stock225,682 
T-mobile US Inc75,300Shares of Common Stock15,288,912 
Toho Titanium CO42,900Shares of Common Stock362,096 
Tokyo Gas CO Ltd95,320Shares of Common Stock3,773,394 
Tokyo Tatemono CO40,315Shares of Common Stock912,035 
Totalenergies SE258,586Shares of Common Stock16,916,696 
Toyo Suisan Kaisha8,521Shares of Common Stock584,393 
Trane Technologies Plc10,950Shares of Common Stock4,261,740 
Tutor Perini Corp61,528Shares of Common Stock4,123,607 
Tyson Foods Inc CL A57,212Shares of Common Stock3,353,767 
Ubs Group AG Usd0.10447,756Shares of Common Stock20,888,686 
Ucb19,574Shares of Common Stock5,485,101 
U-haul Holding71,500Shares of Common Stock3,341,910 
Ultragenyx Pharmaceutical Inc63,039Shares of Common Stock1,449,897 
Unibail-rodamco- Westfield30,987Shares of Common Stock3,375,786 
Unilever Plc78,946Shares of Common Stock5,160,125 
Unite Group116,928Shares of Common Stock879,948 
United Parcel Svc Inc29,930Shares of Common Stock2,968,757 
Unitedhealth Group Inc20,066Shares of Common Stock6,623,987 
Upstart Hldgs Inc100,620Shares of Common Stock4,400,113 
Urban Edge Pptys219,312Shares of Common Stock4,208,597 
US Bancorp558,410Shares of Common Stock29,796,758 
Vallourec SA Eur0.0260,543Shares of Common Stock1,115,633 
Value Added Techno15,795Shares of Common Stock214,357 
Veeco Instrs Inc Del145,955Shares of Common Stock4,171,394 
Ventas Inc73,474Shares of Common Stock5,685,418 
Veracyte Inc87,248Shares of Common Stock3,673,141 
Verra Mobility191,679Shares of Common Stock4,295,526 
Verra Mobility64,909Shares of Common Stock1,454,611 
Vertex Inc CL A52,015Shares of Common Stock1,038,740 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Vertiv Holdings Llc120,310Shares of Common Stock19,491,423 
Viatris1,239,305Shares of Common Stock15,429,347 
Viatris314,100Shares of Common Stock3,910,545 
Vicat SA17,543Shares of Common Stock1,565,857 
Vici Pptys Inc45,570Shares of Common Stock1,281,428 
Virbac SA1,414Shares of Common Stock593,690 
Vistra Corp63,430Shares of Common Stock10,233,162 
Vistry Group Plc68,738Shares of Common Stock593,013 
VIVENDI SE EUR5.50238,481Shares of Common Stock662,679 
VONOVIA SE NPV307,138Shares of Common Stock8,852,026 
VONTIER CORP COM USD0.0001 WI97,011Shares of Common Stock3,606,869 
VORNADO RLTY TR COM28,868Shares of Common Stock960,727 
VSE CORP COM29,971Shares of Common Stock5,178,090 
VULCAN MATERIALS CO COM27,010Shares of Common Stock7,703,792 
WACKER CHEMIE AG NPV(BR)4,600Shares of Common Stock374,661 
WALMART INC COM185,169Shares of Common Stock20,629,678 
WALT DISNEY CO118,256Shares of Common Stock13,453,985 
WAREHOUSES DE PAUW NPV39,026Shares of Common Stock1,013,850 
WAREHOUSES DE PAUW NPV39,733Shares of Common Stock1,032,217 
WASTE CONNECTIONS INC COM32,910Shares of Common Stock5,771,098 
WELLS FARGO & CO NEW COM STK269,219Shares of Common Stock25,091,211 
WELLTOWER INC COM REIT50,489Shares of Common Stock9,371,263 
WESCO INTL INC COM8,500Shares of Common Stock2,079,440 
WESTLAKE CORPORATION COM USD0.0138,500Shares of Common Stock2,846,690 
WHARF REAL ESTATE HKD0.1180,000Shares of Common Stock568,433 
WHITEHAVEN COAL NPV110,571Shares of Common Stock571,441 
WIENERBERGER AG NPV16,969Shares of Common Stock610,233 
WILLIAMS CO INC COM123,121Shares of Common Stock7,400,803 
WING TAI HOLDINGS NPV473,971Shares of Common Stock523,358 
WINGSTOP INC COM10,746Shares of Common Stock2,562,814 
XOMETRY INC CL A COM CL A COM28,517Shares of Common Stock1,695,906 
XPEL INC COM41,774Shares of Common Stock2,084,940 
YETI HLDGS INC COM102,236Shares of Common Stock4,515,764 
ZEGONA COMMUNICATI ORD GBP0.0180,000Shares of Common Stock1,501,076 
ZENKOKU HOSHO CO L NPV38,971Shares of Common Stock775,964 
ZIMMER BIOMET HLDGS INC COM300,688Shares of Common Stock27,037,865 
ZIMMER BIOMET HLDGS INC COM43,600Shares of Common Stock3,920,512 
ZSCALER INC COM29,680Shares of Common Stock6,675,626 
ZUKEN INC NPV15,258Shares of Common Stock475,520 
ZUMTOBEL GROUP AG47,176Shares of Common Stock189,488 
Corporate Equities Total7,695,567,248 
Cash and Cash Equivalents
Cash and cash equivalentsForeign currency6,441,435 
Cash and Cash Equivalents Total6,441,435 
Government Securities
Fannie MaeFANNIE MAE BX9727 04-01-20535 %478,658 
Fannie MaeFANNIE MAE FLTG RT 07-29-202612,195,943 
Fannie MaeFANNIE MAE FLTG RT 08-21-20263,803,047 
Fannie MaeFANNIE MAE FLTG RT 12-11-20264,809,428 
Fannie MaeFANNIE MAE FN CB5774 02-01-20535.5 %1,794,995 
Fannie MaeFANNIE MAE SR 24-90 CL FA FRN 12-25-2054322,623 
Fannie MaeFANNIE MAE SR 25-69 CL FB FLTG RT 08-25-20551,454,696 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Federal Home Loan BanksFEDERAL HOME LN BK DISC NT 03-03-20266,917,807 
Federal Home Loan BanksFEDERAL HOME LN BK DISC NT 03-12-202610,600,892 
Federal Home Loan BanksFEDERAL HOME LN BK DISC NT 04-17-202613,031,430 
Federal Home Loan BanksFEDERAL HOME LN BK FLTG 06-26-20266,337,426 
Federal Home Loan BanksFEDERAL HOME LN BKS 01-11-20273.5 %10,285,994 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 06/20/2025 FLTG 02-17-20263.66 %1,804,971 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 07/08/2025 FLTG 01-13-20263.64 %6,994,951 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 08/18/2025 FLTG 04-17-20263.73 %3,600,158 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 08/25/2025 FLTG 02-25-20273.795 %3,664,408 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 08/28/2025 02-26-20263.75 %14,836,755 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 09/18/2025 FLTG 03-18-20273.8 %3,894,994 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/20/2025 FLTG 03-20-20263.7 %1,599,981 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/20/2025 FLTG 04-20-20263.705 %699,982 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/20/2025 FLTG 05-20-20263.71 %1,599,961 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/30/2025 FLTG 05-28-20263.725 %1,799,955 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/30/2025 FLTG 06-04-20263.725 %3,599,915 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/30/2025 FLTG 06-30-20263.73 %1,809,968 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 10/30/2025 FLTG 07-02-20263.73 %3,984,919 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/18/2025 FLTG 07-21-20263.71 %1,799,971 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/18/2025 FLTG 06-18-20263.715 %3,514,949 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/18/2025 FLTG 07-17-20263.72 %3,514,954 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/19/2025 FLTG 07-22-20263.71 %1,799,973 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/19/2025 FLTG 08-19-20263.71 %1,764,951 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/21/2025 FLTG 06-22-20263.7 %5,304,924 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/21/2025 FLTG 07-21-20263.705 %3,529,953 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/21/2025 FLTG 08-21-20263.71 %12,354,667 
Federal Home Loan BanksFEDERAL HOME LN BKS CONS BD DTD 11/24/2025 FLTG 06-23-20263.7 %3,889,949 
Federal Home Loan BanksFEDERAL HOME LN BKS FLTG RT 04-07-20263,599,947 
Federal Home Loan BanksFEDERAL HOME LOAN BANK FLTG 05-05-20263,459,954 
Federal Home Loan BanksFEDERAL HOME LOAN BANK FLTG 07-24-20263,529,952 
Federal Home Loan BanksFEDERAL HOME LOAN BANK FLTG RT 06-02-20263,459,908 
Federal Home Loan BanksFEDERAL HOME LOAN BANK FLTG RT 04-17-20261,754,990 
Federal Home Loan BanksFEDERAL HOME LOAN BANKS 02-03-20262,898,319 
Federal Home Loan BanksFEDERAL HOME LOAN BANKS DISC NT 01-02-20267,498,538 
Federal Home Loan BanksFEDERAL HOME LOAN BANKS FLTG 06-25-20261,764,980 
Federal Home Loan BanksFEDERAL HOME LOAN BANKS FLTG 08-24-20261,764,949 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Federal Home Loan BanksFHLB FLTG 25/3/2027 03-25-20272,980,654 
FFCBFED FARM CR BKS FLTG 02-16-202712,407,640 
FFCBFEDERAL FARM CR 06-26-20265.42 %2,285,882 
FFCBFEDERAL FARM CR BKS FLTG RT 06-24-2026901,111 
FFCBFEDERAL FARM CR BKS FLTG RT 11-19-20271,490,706 
FFCBFEDERAL FARM CREDIT BANK 02-01-20274.525 %3,498,931 
FFCBFEDERAL FARM CREDIT BANK FLTG 03-05-20276,999,683 
FFCBFEDERAL FARM CREDIT BANK FLTG 03-26-20271,361,011 
FFCBFEDERAL FARM CREDIT BANK FLTG 04-19-2027619,996 
FFCBFEDERAL FARM CREDIT BANK FLTG 10-16-20266,503,314 
FFCBFEDERAL FARM CREDIT BANK FLTG 12-23-20261,000,564 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 11-06-20262,769,855 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 01-20-20274,124,879 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 01-27-20271,357,029 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 02-27-20266,399,863 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 05-24-20271,894,986 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 11-19-2026561,980 
FFCBFEDERAL FARM CREDIT BANK FLTG RT 11-23-2027444,995 
FFCBFEDERAL FARM CREDIT FLTG 10-15-202611,721,609 
FHLMCFEDERAL HOME LN MTG CORP DISC NT 02-13-20261,764,366 
FHLMCFEDERAL HOME LN MTG CORP FHR 5500 AF FLTG 02-25-2055344,978 
FHLMCFEDERAL HOME LN MTG CORP FLTG RT 09-23-20263,902,175 
FHLMCFEDERAL HOME LN MTG CORP FLTG RT 10-16-20262,901,381 
FHLMCFEDERAL HOME LN MTG CORP MULTICLASS SR 5565 CL FC FLTG 08-25-20551,450,218 
FHLMCFEDERAL HOME LN MTG CORP POOL #J17884 01-01-2027 BEO3 %1,151 
FHLMCFEDERAL HOME LN MTG CORP POOL #ZM2479 01-01-2047 BEO4 %161,788 
FHLMCFEDERAL HOME LN MTG CORP POOL #ZM5146 12-01-2047 BEO4 %82,533 
FHLMCFEDERAL HOME LN MTG CORP SER 005557 CL FM 07-25-20554.76721 %273,765 
FHLMCFEDERAL HOME LN MTG CORP SER 4678 CL AF FLTG RT 12-15-204235,499 
FHLMCFEDERAL HOME LN MTG CORP SER 5442 CL FB FLTG 08-25-2054170,464 
FHLMCFEDERAL HOME LN MTG CORP SER 5563 CL FV FLTG RT 08-25-20551,168,827 
FHLMCFEDERAL HOME LN MTG CORP SER 5564 CL PF FLTG RT 08-25-20551,577,344 
FHLMCFEDERAL HOME LN MTG CORP SER 5564 CL PF FLTG RT 08-25-2055246,460 
FHLMCFEDERAL HOME LN MTG CORP SER 5565 CL FA FLTG RT 08-25-2055237,286 
FHLMCFEDERAL HOME LN MTG CORP SER 5565 CL FA FLTG RT 08-25-2055759,314 
FHLMCFEDERAL HOME LN MTG CORP SR 5508 CL QF FLTG 02-25-205586,924 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
FHLMCFEDERAL HOME LN MTG CORP SR 5568 CL FE FLTG RT08-25-2055720,001 
FHLMCFEDERAL HOME LN MTG CORP SR 5601 CL F FLTG RT 11-25-2055743,463 
FHLMCFEDERAL HOME LN MTG CORP SR 5607 CL FA FLTG RT 12-25-20551,428,474 
FHLMCFEDERAL HOME LOAN MORTGAGE CORP 08-01-20545 %9,365,828 
FHLMCFEDERAL HOME LOAN MORTGAGE CORP 08-01-20545.5 %343,035 
FHLMCFHLM MULTI FAMILY STRUCTURED PASS THRO SER KBX1 CL A2 01-25-20262.92 %211,143 
FHLMCFHLM MULTI FAMILY STRUCTURED PASS THRO SER KBX1 CL A2 01-25-20262.92 %58,651 
FHLMCFHLMC MULTICLASS FHMS Q029 A FLTG 25/8/2027 08-25-2027131,921 
FHLMCFHLMC MULTICLASS SER 4620 CL AF 11-15-204223,513 
FHLMCFHLMC MULTICLASS SR 4153 CL DC 05-15-20411.75 %64,498 
FHLMCFHLMC UMBS 30Y FIXED 05-01-20545.5 %433,820 
FNMAFEDERAL NATIONAL MORTGAGE ASSOC 11-25-20462 %189,286 
FNMAFEDERAL NATIONAL MORTGAGE ASSOC 10-01-20536.5 %140,168 
FNMAFEDERAL NATIONAL MORTGAGE ASSOC REMIC TR2025-4 CL-FB VAR 12-25-20534.86721 %477,834 
FNMAFEDERAL NATL MTG ASSN GTD MTG POOL #AJ8540 01-01-2027 BEO3 %4,851 
FNMAFEDERAL NATL MTG ASSN GTD MTG POOL #AL5548 DUE 05-01-2038 BEO6.383 %13,154 
FNMAFNMA 30 YEAR PASS-THROUGHS 30 YEARS SETTLES FEBRUARY6 %12,215,383 
FNMAFNMA 30 YEAR PASS-THROUGHS 30 YEARS SETTLES FEBRUARY6.5 %1,039,516 
FNMAFNMA FLTG 10-23-20264,637,434 
FNMAFNMA FLTG RT 11-20-20265,604,009 
FNMAFNMA POOL #AB3968 12-01-2026 BEO3 %30,941 
FNMAFNMA POOL #AV3961 01-01-2029 BEO4 %17,689 
FNMAFNMA POOL #BL1942 03-01-20263.15 %199,230 
FNMAFNMA POOL #BL3670 10-01-2026 BEO2.08 %98,503 
FNMAFNMA POOL #FM1549 09-01-2048 BEO4 %109,083 
FNMAFNMA POOL #FM3004 01-01-2046 BEO4 %1,112,901 
FNMAFNMA POOL #FS8344 06-01-2049 BEO4 %83,782 
FNMAFNMA POOL #MA2871 01-01-2032 BEO3 %127,468 
FNMAFNMA POOL #MA3029 DUE 06-01-2032 REG3 %188,333 
FNMAFNMA POOL #MA4700 08-01-2052 BEO4 %809,515 
FNMAFNMA POOL #MA5295 03-01-2054 BEO6 %2,960,013 
FNMAFNMA REMIC SER 12-120 CL WE 11-25-20271.25 %146,182 
FNMAFNMA REMIC TR 2025-19 CL-FC VAR 03-25-20554.82721 %217,752 
FNMAFNMA REMIC TR 2025-24 CL-FB VAR 03-25-20554.56721 %218,143 
FNMAFNMA REMIC TR 2025-47 CL-FJ VAR 06-25-20554.69721 %753,020 
FNMAFNMA SER 19-28 CL FJ FLTG DUE 06-25-2059 REG306,485 
FNMAFNMA SINGLE FAMILY MORTGAGE MAT 30 YEARS SETTLES FEBRUARY4 %2,847,520 
FNMAFNMA SINGLE FAMILY MORTGAGE MAT 30 YEARS SETTLES FEBRUARY4.5 %7,812,591 
FNMAFNMA SINGLE FAMILY MTG 5 30 YEARS SETTLES FEB2,094,594 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
FNMAFNMA SR 06-114 CL AF FLTG 12-25-2036236,798 
FNMAFNMA SR 25-69 CL-FA VAR RT 08-25-20551,453,610 
Freddie MacFREDDIE MAC MULTICLASS SR 5410 CL FB FLTG RT 05-25-2054539,340 
Freddie MacFREDDIE MAC POOL FR QI6910 1/6/2054 06-01-20545.5 %474,305 
Freddie MacFREDDIE MAC SER 5508 CL DF FLTG RT 02-25-2055216,954 
Freddie MacFREDDIE MAC SR 5345 CL A 01-25-20475.5 %76,964 
Freddie MacFREDDIE MAC SR 5426 CL CF FLTG RT 12-15-20506.2237 %142,302 
Freddie MacFREDDIE MAC SR 5500 CL GF FLTG 10-25-2054803,799 
Freddie MacFREDDIE MAC SR 5505 CL AF FLTG 03-15-2050197,605 
Freddie MacFREDDIE MAC SR 5508 CL AF FLTG RT 02-25-2055556,739 
Freddie MacFREDDIE MAC SR 5513 CL MF FLTG RT 11-25-2054407,134 
GNMAGNMA 2016-H17 MTG PASS THRU CTF CL MX FC08-20-206679,765 
GNMAGNMA 2016-H20 REMIC PASSTHRU CTF CL FG 08-20-20662,995 
GNMAGNMA 2017-H05 REMIC PASSTHRU CTF CL FC FLTG 02-20-2067141,165 
GNMAGNMA 2019-H11 REMIC PASSTHRU CTF 05-20-20694.39691 %143,740 
GNMAGNMA 2022-H24 REMIC PASSTHRU CTF 11-20-20724.83154 %1,455,546 
GNMAGNMA 11-20-20724.82154 %1,189,432 
GNMAGNMA FLTG RT SER 18-H15 CL FG 08-20-2068 REG80,712 
GNMAGNMA II JUMBOS 3.5 30 YEARS SETTLES FEB455,533 
GNMAGNMA POOL #MA5265 06-20-2048 BEO4.5 %134,502 
GNMAGNMA POOL #MA5764 02-20-2049 BEO4.5 %276,151 
GNMAGNMA POOL #MA8345 10-20-2052 BEO3.5 %858,406 
GNMAGNMA REMIC SER 2013-H16 CL FA FLTG 07-20-20636,509 
GNMAGNMA REMIC 2015-H30 CL FD FLT RT 10-20-206513,314 
GNMAGNMA REMIC PASSTHRU CTF SER 2015-H18 CL FB FLTG RT DUE 07-20-206537,977 
GNMAGNMA REMIC PASSTHRU CTF SR 20-H14 CL FH 08-20-20700 %403,617 
GNMAGNMA REMIC SR 16-H09 CL FB FLTG RT 04-20-206614,032 
GNMAGNMA REMIC SR 25-H21 CL FA FLTG 10-20-2075752,069 
GNMAGNMA SER 15-H08 CLS FB FLTG DUE 03-20-206592,327 
GNMAGNMA SER 17-H21 CL FD FLTG 10-20-2067861,486 
GNMAGNMA SER 19-H05 CL FT FRN DUE 04-20-2069 REG14,422 
GNMAGNMA SR 23-H12 CL FA FLTG RT 05-20-2073463,041 
GNMAGNMA SR 23-H19 CL FA FLTG RT 08-20-2073193,996 
GNMAGNMA SR 23-H19 CL FA FLTG RT 08-20-2073678,986 
GNMAGNMA SR 23-H21 CL FA FLTG RT 09-20-2073723,820 
GNMAGNMA SR 24-HO4 CL FA FLTG RT 02-20-2074272,871 
GNMAGNMA SR 25-H20 CL FA FLTG RT 09-20-20751,004,820 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
GNMAGNMA SR 25-H20 CL FA FLTG RT 09-20-20751,708,194 
GNMAGNMAII POOL #MB0481 SER 2055 07-20-20553.5 %4,146,233 
GNMAGOVERNMENT NATIONAL MORTGAGE ASSN SR 18-H01 CL FA FLTG RT 01-20-2068348,187 
GNMAGOVERNMENT NATIONAL MORTGAGE ASSN SR 25-159 CL FJ FLTG RT 09-20-20551,688,902 
GNMAGOVERNMENT NATIONAL MORTGAGE ASSOC 04-20-20724.46154 %495,840 
GNMAGOVERNMENT NATIONAL MORTGAGE ASSOC 08-20-20715.16154 %503,111 
AustraliaPVTPL NBN CO LTD 10-01-20274 %299,362 
CanadaCANADA(GOVT OF) IDX/LKD 01/12/26 CAD4.25 %283,550 
CanadaPVTPL NOVA CHEMICALS CORP 11-15-20288.5 %112,916 
CanadaPVTPL NOVA CHEMICALS CORP 02-15-20309 %10,678 
FranceFRANCE(GOVT OF) IDX/LKD BDS 25/07/2038 EUR1228,486 
FranceFRANCE(GOVT OF) IDX/LKD SNR 01/03/2026 EUR11,722,883 
FranceFRANCE(GOVT OF) IDX/LKD SNR 25/07/2027 EUR1165,098 
FranceFRANCE(GOVT OF) IDX/LKD SNR 25/07/2031 EUR1547,004 
ItalyITALY(REP OF) IDX/LKD SNR 15/05/2030 EUR569,983 
ItalyPVTPL CASSA DEPOSITI E PRESTIT 04-30-20295.875 %316,076 
PolandREPUBLIC OF POLAND 03-18-20294.625 %407,968 
Saudi ArabiaPVTPL SAUDI INTERNATIONAL BOND 01-13-20285.125 %408,502 
BrazilSECRETARIA TESOURO T-BILL 01/04/26 BRL10000 %3,195,142 
IsraelSTATE OF ISRAEL 02-19-20305.375 %206,795 
United StatesSMALL BUSINESS ADMIN GTD DEV PARTN CTF 5.12 DUE 11-01-2027 REG22,113 
United StatesTSY INFL IX N/B TREAS BONDS 02-15-20450.75 %2,787,061 
United StatesTSY INFL IX N/B 02-15-20520.125 %743,774 
United StatesTSY INFL IX N/B 07-15-20270.375 %6,605,025 
United StatesTSY INFL IX N/B TIPS 02-15-20481 %1,771,103 
United StatesTSY INFL IX N/B 01-15-20341.75 %4,113,040 
United StatesTSY INFL IX N/B TII 0 1/8 01/15/32 01-15-20324,513,022 
United StatesTSY INFL IX N/B TII 0 1/8 04/15/27 04-15-20271,358,844 
United StatesTSY INFL IX N/B TII 2 3/8 10/15/28 10-15-20283,942,904 
United StatesTSY INFL IX N/B US GVT NATIONAL 01-15-20270.375 %5,538,268 
United StatesUNITED STATES OF AMER TBILL 02-03-20260 %23,725,622 
United StatesUNITED STATES OF AMER TBILL 03-03-20260 %596,447 
United StatesUNITED STATES OF AMER BDS INDX LNKD 02-15-20470.875 %1,731,279 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 04-16-20260 %17,121,949 
United StatesUNITED STATES OF AMER TREAS BILLS 02-10-20260 %17,546,142 
United StatesUNITED STATES OF AMER TREAS BILLS 02-17-20260 %21,378,980 
United StatesUNITED STATES OF AMER TREAS BILLS 03-12-20260 %3,838,733 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
United StatesUNITED STATES OF AMER TREAS BILLS 04-02-20260 %6,068,620 
United StatesUNITED STATES OF AMER TREAS BILLS 04-09-20260 %8,997,977 
United StatesUNITED STATES OF AMER TREAS BILLS 07-02-20260 %1,227,969 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 04-30-20260 %27,417,488 
United StatesUNITED STATES OF AMER TREAS BILLS 12-24-20260 %21,660,193 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 01-22-20260 %2,542,963 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 02-05-20260 %19,167,642 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 02-19-20260 %2,427,406 
United StatesUNITED STATES OF AMER TREAS BILLS TBILL 03-10-20260 %17,658,966 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 02-12-20260 %23,704,649 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 04-23-20260 %15,469,699 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL 06-18-20260 %6,819,510 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL03-19-20260 %17,523,580 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL03-24-20260 %4,380,990 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL03-31-20260 %15,401,520 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL04-21-20260 %6,628,390 
United StatesUNITED STATES OF AMER TREAS BILLS T-BILL05-28-20260 %23,565,336 
United StatesUNITED STATES OF AMER TREAS BILLS 01-29-20262,892,331 
United StatesUNITED STATES OF AMER TREAS BONDS 04-15-20284,544,328 
United StatesUNITED STATES OF AMER TREAS BONDS T-BOND 02-15-20500 %431,027 
United StatesUNITED STATES OF AMER TREAS BONDS TIPS INFL IDX 02-15-2043 USD10000.625 %971,135 
United StatesUNITED STATES OF AMER TREAS BONDS 02-15-20420.75 %3,415,349 
United StatesUNITED STATES OF AMER TREAS BONDS 02-15-20531.5 %855,783 
United StatesUNITED STATES OF AMER TREAS BONDS 02-15-20552.375 %2,060,012 
United StatesUNITED STATES OF AMER TREAS NOTES 01-15-20310.125 %4,715,116 
United StatesUNITED STATES OF AMER TREAS NOTES 10-15-20260.125 %9,821,457 
United StatesUNITED STATES OF AMER TREAS NOTES 31/01/2026 DUE 01-31-2026 BEO0.375 %289,246 
United StatesUNITED STATES OF AMER TREAS NOTES 01-15-20331.125 %1,365,184 
United StatesUNITED STATES OF AMER TREAS NOTES 01-15-20331.125 %5,775,777 
United StatesUNITED STATES OF AMER TREAS NOTES 07-15-20331.375 %6,173,445 
United StatesUNITED STATES OF AMER TREAS NOTES 04-15-20301.5 %7,921,626 
United StatesUNITED STATES OF AMER TREAS NOTES 10-15-20271.625 %4,541,354 
United StatesUNITED STATES OF AMER TREAS NOTES 07-15-20341.875 %8,554,486 
United StatesUNITED STATES OF AMER TREAS NOTES 01-15-20352.125 %9,463,195 
United StatesUNITED STATES OF AMER TREAS NOTES DUE 05-15-2032 REG2.875 %94,422 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
United StatesUNITED STATES OF AMER TREAS NOTES 05-15-20263.625 %19,305,247 
United StatesUNITED STATES OF AMER TREAS NOTES 10-31-20264.125 %700,988 
United StatesUNITED STATES OF AMER TREAS NOTES 02-28-20264.625 %1,201,556 
United StatesUNITED STATES OF AMER TREAS NOTES 06-30-20264.625 %5,297,338 
United StatesUNITED STATES OF AMER TREAS NOTES 04-30-20264.875 %803,250 
United StatesUNITED STATES OF AMER TREAS NOTES DTD 03/31/2021 03-31-20260.75 %15,199,295 
United StatesUNITED STATES OF AMER TREAS NOTES FLTG 10-15-20294,915,090 
United StatesUNITED STATES OF AMER TREAS NOTES FLTG 10-31-202624,603,873 
United StatesUNITED STATES OF AMER TREAS NOTES FLTG RT 01-31-202730,246,221 
United StatesUNITED STATES OF AMER TREAS NOTES FLTG RT 01-31-202613,409,737 
United StatesUNITED STATES OF AMER TREAS NOTES INFL IDX T-BOND 01-15-20290.875 %1,651,289 
United StatesUNITED STATES OF AMER TREAS TIPS 04-15-20291,183,137 
United StatesUNITED STATES OF TREAS NTS 04-30-2026 REG2.375 %826,900 
United StatesUNITED STATES TREAS BDS 02-15-20542.125 %1,814,602 
United StatesUNITED STATES TREAS BDS 02-15-20510.125 %710,860 
United StatesUNITED STATES TREAS BDS 1.375 02-15-2044 REG3,210,034 
United StatesUNITED STATES TREAS BDS 02-15-20412.125 %1,209,789 
United StatesUNITED STATES TREAS BDS INDEX LINKED 1.75 DUE 01-15-2028 REG3,120,983 
United StatesUNITED STATES TREAS BDS INFLATION INDEX LINKED 04-15-20293.875 %473,889 
United StatesUNITED STATES TREAS BDS TSY INFL IX N/B 02-15-20461,909,426 
United StatesUNITED STATES TREAS BONDS 02-15-20491 %410,357 
United StatesUNITED STATES TREAS INFL IDX 07-15-20290.25 %3,954,127 
United StatesUNITED STATES TREAS INFL INDEX NTS 01-15-20280.5 %8,533,715 
United StatesUNITED STATES TREAS INFL INDEXED NTS 07-15-20280.75 %4,872,312 
United StatesUNITED STATES TREAS NTS DUE 07-15-20300.125 %3,118,937 
United StatesUNITED STATES TREAS NTS DUE 07-15-2032 REG0.625 %7,052,543 
United StatesUNITED STATES TREAS NTS DUE 07-15-2032 REG0.625 %947,357 
United StatesUNITED STATES TREAS NTS 10-15-20301.125 %2,480,430 
United StatesUNITED STATES TREAS NTS DUE 05-15-20261.625 %2,278,856 
United StatesUNITED STATES TREAS NTS 11-30-20264.25 %544,322 
United StatesUNITED STATES TREAS NTS DTD 04/30/2024 FLTG RATE 04-30-20263.79325 %20,798,563 
United StatesUNITED STATES TREAS NTS DTD 04-28-2023 DUE 04-15-20281.25 %5,623,837 
United StatesUNITED STATES TREAS NTS FLTG RT 07-31-202612,944,449 
United StatesUNITED STATES TREAS NTS FLTG RT 07-31-202726,953,534 
United StatesUNITED STS TREAS BILLS 02-26-20260 %10,150,015 
United StatesUNITED STS TREAS BILLS 08-06-20260 %1,350,823 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
United StatesUNITED STS TREAS BILLS T-BILL 01-02-20260 %14,345,000 
United StatesUNITED STS TREAS BILLS T-BILL 02-24-20260 %5,999,613 
United StatesUNITED STS TREAS BILLS T-BILL 03-05-20260 %19,790,809 
United StatesUNITED STS TREAS BILLS T-BILL 03-17-20260 %537,109 
United StatesUNITED STS TREAS BILLS T-BILL 04-07-20260 %8,004,882 
United StatesUNITED STS TREAS BILLS T-BILL 06-04-20260 %31,598,118 
United StatesUNITED STS TREAS BILLS T-BILL 06-25-20260 %26,529,249 
United StatesUNITED STS TREAS BILLS 06-11-2026 UNITEDSTS TREAS BILLS13,347,856 
United StatesUNITED STS TREAS BILLS 09-03-2026 UNITEDSTS TREAS BILLS26,884,005 
United StatesUNITED STS TREAS BILLS DUE ZCPN 05-14-202612,220,561 
United StatesUNITED STS TREAS NTS 07-15-20310.125 %14,141,843 
United StatesUNITED STS TREAS NTS DUE 02-28-2026 REG0.5 %994,792 
United StatesUNITED STS TREAS NTS 06-30-20260.875 %710,629 
United StatesUS TREAS BDS INDEX LINKED 2.5 DUE 01-15-2029 REG2,081,378 
United StatesUS TREAS BDS INDEX LINKED NOTES 2.375 DUE 01-15-2027 REG97,650 
United StatesUS TREAS INFL INDEXED BONDS 3.375 DUE 04-15-2032 AR12 DUE 04-15-32 REG218,908 
United StatesUS TREASURY DTD 02/15/2010 02-15-20401,523,103 
United StatesUS TREASURY INFL INDX 01-15-20300.125 %4,456,758 
United StatesUTD STATES TREAS DUE 07-15-20351.89294 %6,482,115 
United StatesUTD STATES TREAS FLTG RT DUE 10-31-20273.83325 %15,163,601 
Government Securities Total1,225,238,404 
Corporate Debt Instruments
522 FDG CLO 2018-3 A Ltd522 FDG CLO 2018-3 A LTD / 522 FDG 10-20-20314.96924 %78,731 
888 Acquisitions Limited888 ACQUISITIONS LIMITED TRM LN B SR SCD TRM LN 07-08-2028283,046 
Aar Escrow Issuer Llc SrAAR ESCROW ISSUER LLC SR NT 144A 03-15-20296.75 %75,537 
Acadia HealthcareACADIA HEALTHCARE DUE 07-01-20285.5 %72,554 
Acrisure LlcACRISURE LLC / ACRISURE FIN INC 11-06-20307.5 %193,675 
Acrisure LlcACRISURE LLC TL 11-06-2030472,310 
AethonAETHON UTD BR LP / DUE 10-01-20297.5 %203,249 
AGAG ISSUER LLC DUE 03-01-20286.25 %23,101 
Air Lease CorpAIR LEASE CORP 06-25-20265.3 %301,504 
AlliantALLIANT HLDGS DUE 10-15-20276.75 %54,317 
Ally Finl IncALLY FINL INC 02-14-20336.7 %350,643 
Ally Finl IncALLY FINL INC DUE 11-01-20318 %476,006 
Ally Finl Inc SrALLY FINL INC SR NT FIXED / FLTG 06-13-20296.992 %106,680 
AlticeALTICE FINANCING S.A. FIRST LIEN TERM LOAN DUE 10-31-2027 BEO477,113 
AlticeALTICE FRANCE S A USD TLB-12 LOAN SENIORSECURED 10-30-202847,073 
AlticeALTICE FRANCE S.A USD TLB-14 LOAN SENIORSECURED 05-31-2031288,275 
AlticeALTICE LUXCO342,413 
Amerigas PartnersAMERIGAS PARTNERS DUE 05-20-20275.75 %361,062 
American Axle & MfgAMERN AXLE & MFG DUE 10-01-20295 %304,396 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
American Axle & MfgAMERN AXLE & MFG DUE 10-15-20337.75 %83,559 
American Axle & MfgAMERN HONDA FIN FLTG RT DUE 08-13-20274.40584 %601,245 
Amgen Inc FixedAMGEN INC FIXED 03-02-20285.15 %204,748 
Antero MidstreamANTERO MIDSTREAM DUE 01-15-20285.75 %117,225 
Arcano Euro CLO I DACARCANO EUR FRN CLO 07/2039 EUR 'A'705,719 
ARDONAGH GROUPARDONAGH GROUP FIN DUE 02-15-20328.875 %509,245 
ARES EUROPEANARES EUROPEAN CLO 15/10/2031 15/10/20312.796 %122,971 
ASURION LLCASURION LLC TERM LOAN B-13 SENIOR SECURED 09-19-2030329,293 
ATLASATLAS CC ACQUISITION CORP TLB 05-25-2029213,747 
ATLASATLAS CC ACQUISITION CORP TLC 05-25-202930,943 
BALLYS CORPORATIONBALLYS CORPORATION TERM LOAN B DUE 10-02-2028 BEO203,266 
Bank Amer CorpBAMLL COML MTG FLTG RT DUE 09-15-20384.82448 %385,688 
Bank Amer CorpBANK AMER CORP 05-09-20294.623 %405,433 
Bank Amer CorpBANK AMER CORP DUE 12-31-20495.875 %81,242 
Bank MontrealBANK MONTREAL QUE 09-10-20274.567 %301,140 
BARINGSBARINGS EURO CLO 21/10/20383.269 %704,420 
BARRACUDA NETWORKS INCBARRACUDA NETWORKS INC FIRST LIEN TERM LOAN SENOIR SECURED TERM LOAN 08-15-2029445,652 
Bausch Health CompaniesBAUSCH HEALTH COMPANIES INC. TERM LOAN B01-27-2027— 
Bayer Us Fin IiBAYER US FIN II DUE 12-15-20284.375 %100,117 
Black Diamond 2019 Frn CBLACK DIAMOND 2019 FRN CLO 05/2032 EUR 'A-1'147,097 
BlackrockBLACKROCK EURO.VII FRN CLO 10/2031 EUR 'A'156,283 
Block IncBLOCK INC SR NT 06-01-20262.75 %86,481 
Block IncBLOCK INC SR NT 06-01-20313.5 %72,371 
Blue RacerBLUE RACER DUE 07-15-20327.25 %382,058 
Boxer Parent Co IncBOXER PARENT CO INC TL 07-02-2032639,327 
BRIDGECRESTBRIDGECREST LENDING AUTO SECURITIZATION TR SR 25-2 CL A2 01-18-20284.84 %289,028 
BRIGHTSTARBRIGHTSTAR LOTTERY DUE 01-15-20335.75 %169,782 
BROADCOMBROADCOM INC 02-15-20332.6 %22,928 
Buckeye PartnersBUCKEYE PARTNERS L DUE 12-01-20263.95 %168,164 
Buckeye PartnersBUCKEYE PARTNERS L DUE 03-01-20284.5 %172,892 
Buckeye PartnersBUCKEYE PARTNERS L DUE 11-15-20435.85 %256,951 
CairnCAIRN CLO III B.V. FLTG 144A 15/10/2031232,287 
CamelotCAMELOT FIN S A DUE 11-01-20264.5 %17,874 
Capital powerCAP PWR US HLDGS DUE 06-01-20285.257 %101,978 
CarlyleCARLYLE G 14-2 DAC BDS 15/11/2031 EUR0 %57,708 
Carriage Purchaser IncCARRIAGE PURCHASER INC SENIOR SECURED TERM B LOAN 10-02-202825,867 
Cco Hldgs LlcCCO HLDGS LLC / CCO HLDGS CAP CORP SR NT144A 01-15-20344.25 %159,852 
Cco Hldgs LlcCCO HLDGS LLC/CCO HLDGS CAP CORP 05-01-20324.5 %26,029 
Cco Holdings LlcCCO HOLDINGS LLC 06-01-20334.5 %221,466 
Central ParentCENT PARENT INC / DUE 06-15-20297.25 %441,709 
Centene CorpCENTENE CORP DEL 03-01-20312.5 %15,540 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Centene CorpCENTENE CORP DEL 08-01-20312.625 %252,882 
Centene CorpCENTENE CORP DEL DUE 10-15-20303 %149,388 
Centene CorpCENTENE CORP DEL SR NT 07-15-20282.45 %120,804 
Centene CorpCENTENE CORP DEL SR NT 12-15-20274.25 %84,499 
Chesapeake Funding LLCCHES FDG II LLC FLTG RT DUE 05-15-20364.42819 %154,295 
Chs / Cmnty HlthCHS / CMNTY HLTH DUE 01-15-20296 %173,984 
CI FINANCIALCI FINANCIAL CORP 05-30-20297.5 %306,805 
CI FINANCIALCI FINL CORP DUE 12-17-20303.2 %348,821 
CitibankCITIBANK N A 08-06-20264.929 %100,527 
CitibankCITIBANK N A 04-30-20265.438 %501,910 
CitibankCITIGROUP GLOBAL MKTS HLDGS INC 03-20-20280.125 %169,849 
Harborview MtgCMO HARBORVIEW MTG LN SER 05-9 CL B1 FLTG 06-20-2035159,864 
Harborview MtgCMO HARBORVIEW MTG LN TR 2005-11 MTG PASSTHRU CTF 2-A1A DUE 08-19-2045 REG68,830 
Structured Asset MtgCMO STRUCTURED ASSET MTG INVTS II INC SER 04-AR2 CL IA VAR 05-19-2034 REG7,638 
Wa Mut Mtg Secs CorpCMO WA MUT MTG SECS CORP 2005-AR1 CL A-1A VAR DUE 12-25-2044 REG13,817 
Wamu MtgCMO WAMU MTG PASS-THRU CTFS 2005-AR8 CTFCL 2-A-1A DUE 07-25-2045 REG45,695 
Wamu MtgCMO WAMU MTG PASS-THRU CTFS SER 2005-AR13 CL A-1A1 FLT 10-25-4578,583 
CMS ENERGY CORPCMS ENERGY CORP 05-01-20283.375 %168,981 
Cnf IncCNF INC DUE 05-01-20346.7 %511,200 
Cno Global FdgCNO GLOBAL FDG MEDIUM TERM NTS BOOK 06-04-20275.875 %204,449 
COGENT COMMUNICATIONS GROUP LLCCOGENT COMMUNICATIONS GROUP LLC / SR SECD NT 144A 07-01-20326.5 %42,084 
COGENT COMMUNICATIONS GROUP LLCCOMM 2021-2400 MTG FLTG RT DUE 12-15-20385.07448 %326,717 
Commscope IncCOMMSCOPE INC TERM LOAN FIRST LIEN SENIOR SECURED 12-18-20291,016,324 
Comstock Res IncCOMSTOCK RES INC DUE 03-01-20296.75 %80,816 
Consensus CloudCONSENSUS CLOUD DUE 10-15-20286.5 %279,083 
COTIVITICOTIVITI HLDGS INC FIXED RATE SENIOR SECURED TERM LOAN 02-21-2031192,517 
C&S Wholesale GrocerCS WHSL GROCERS INC TLB 08-06-2030190,047 
CSC HOLDINGS LLCCSC HOLDINGS LLC SEPTEMBER 2019 INITIAL TERM LOAN SENIOR SECURED 04-15-2027145,544 
Ctr Partnership L PCTR PARTNERSHIP L P / CARETRUST CAP SR NT 144A 06-30-20283.875 %270,741 
Dana IncDANA INC DUE 09-01-2030 BEO4.25 %181,058 
Dana IncDANA INC DUE 11-15-20275.375 %149,753 
Dana IncDANA INC DUE 06-15-20285.625 %51,917 
DAVITA INCDAVITA INC DUE 06-01-20304.625 %55,418 
LABL IncDEFAULTED 144A LABL INC NEW ISSUE 11-01-20285.875 %52,011 
LABL IncDEFAULTED LABL ESCR ISSUER DUE 07-15-202710.5 %66,129 
Delivery HeroDELIVERY HERO SE TERM LOAN B SENIOR SECURED 12-12-2029952,838 
Dell Intl L L CDELL INTL L L C/EMC CORP 07-15-2036 USD8.1 %337,572 
Dell Intl L L CDELL INTL L L C/EMC CORP 07-15-20468.35 %99,252 
Discovery CommsDISCOVERY DUE 03-20-20283.95 %94,297 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
DROP MTGDROP MTG TR FLTG RT DUE 10-15-20434.92448 %390,181 
DROPBOX INCDROPBOX INC SR NT CONV DUE 03-01-2028REG0 %56,448 
DrydenDRYDEN 52 EURO CL FRN CLO 05/2034 EUR 'A-R'187,130 
DTE ELEC CODTE ELEC CO 05-14-20274.25 %100,699 
DUKE ENERGYDUKE ENERGY CORP 04-15-20264.125 %265,740 
Echostar CorpECHOSTAR CORP 11-30-202910.75 %684,437 
Echostar CorporationECHOSTAR CORPORATION PIK 11-30-20306.75 %721,228 
EG GLOBALEG GLOBAL FIN PLC DUE 11-30-202812 %308,643 
Endo Finance Holdings IncENDO FINANCE HOLDINGS INC TLB 04-23-2031726,247 
Etsy IncETSY INC SR NT CONV 06-15-20280.25 %520,928 
FIRSTENERGYFIRSTENERGY CORP 05-01-20264 %266,612 
FCATFLAGSHIP CR AUTO DUE 08-15-20253.28 %1 
Fmg ResFMG RES AUG 2006 DUE 09-15-20274.5 %584,565 
Fnz Usa Finco LlcFNZ USA FINCO LLC USD TLB SENIOR SECURED 11-05-2031548,550 
Ford Hldgs IncFORD CREDIT CND C0 GTD SNR 10/02/2026CAD17 %73,235 
Ford Hldgs IncFORD HLDGS INC DUE 03-01-20309.3 %383,590 
Ford Mtr CoFORD MTR CO DEL DUE 04-22-20309.625 %660,186 
Ford Mtr CoFORD MTR CR CO LLC 11-05-20265.125 %251,376 
Foursight CapFOURSIGHT CAP DUE 05-15-20285.99 %33,815 
Frontier CommunicationsFRONTIER COMMUNICATIONS HLDGS LLC 11-01-20295.875 %79,958 
GARDA WORLD SECURITY CORPGARDA WORLD SECURITY CORP SENIOR SECURED TERM LOAN B 02-01-202993,514 
General Mtrs Finl Co IncGENERAL MTRS FINL CO INC 05-08-20275.4 %304,945 
Genesis Energy L PGENESIS ENERGY L P / GENESIS ENERGY FIN CORP DUE 04-15-20308.875 %187,084 
Genesis Energy L PGENESIS ENERGY L P/GENESIS ENERGY FIN 05-15-20327.875 %116,739 
Genesis Energy LpGENESIS ENERGY LP FIN 05-15-20338 %140,131 
GEO GROUP INCGEO GROUP INC/THE 04-15-203110.25 %297,754 
Gfl Environmental IncGFL ENVIRONMENTAL INC SR NT 144A 08-15-20294.375 %53,093 
Global Pmts IncGLOBAL PMTS INC DUE 08-15-20274.95 %404,375 
Goeasy LtdGOEASY LTD SR NT 144A 05-01-20264.375 %165,293 
GOLDMAN SACHSGOLDMAN SACHS DUE 04-23-20284.937 %404,631 
GOLDMAN SACHSGOLDMAN SACHS GROUP INC 10-21-20294.153 %300,021 
Gs Mtg BackedGS MTG BACKED SECS FLTG RT DUE 08-25-20522.5 %258,960 
Gs Mtg BackedGS MTG-BACKED SECS FLTG RT DUE 04-25-20522.5 %241,143 
Gs Mtg BackedGS MTG-BACKED SECS TR 2022-HP1 MTG PASSTHRU CTF CL A-2 09-25-20523 %283,217 
Gulfport Energy CorpGULFPORT ENERGY CORP 09-01-20296.75 %235,296 
Gxo Logistics IncGXO LOGISTICS INC NT 07-15-20312.65 %366,464 
HAH GROUPHAH GROUP HOLDING COMPANY LLC SENIOR SECURED TERM LOAN B 09-17-203124,408 
Hca IncHCA INC DUE 07-15-2051 BEO3.5 %216,487 
HERCHERC HLDGS INC DUE 06-15-20307 %18,943 
Hewlett PackardHEWLETT PACKARD DUE 09-25-20264.45 %250,728 
Hillenbrand IncHILLENBRAND INC DUE 03-01-2031 BEO3.75 %218,393 
Hillenbrand IncHILLENBRAND INC 02-15-20296.25 %3,068 
HiltonHILTON DOMESTIC DUE 03-31-20345.5 %54,416 
Hospitality Properties TrustHOSPITALITY PPTYS DUE 02-15-20274.95 %83,356 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Hp Enterprise CoHP ENTERPRISE CO 09-25-20274.4 %50,252 
HUB INTLHUB INTL LTD DUE 06-15-20307.25 %193,186 
HYUNDAIHYUNDAI CAP AMER VAR RT DUE 01-08-20275.16862 %403,139 
Illumina IncILLUMINA INC SR NT 09-09-20264.65 %100,324 
IBMINTERNATIONAL BUSINESS MACHS CORP 02-10-20284.65 %304,468 
INVESCOINVESCO EURO CLO SR 11A CL 22/10/2036706,531 
INVESCOINVESCO EURO CLO SR 11A CL 22/10/2036942,041 
INVESCOINVESCO EURO CLO V INVSC 5A 15/01/2034938,370 
IRBIRB HOLDING CORP TLB 12-15-2030200,215 
Itron IncITRON INC SR NT CONV 03-15-20260 %253,184 
JONES DESLAURIERSJONES DESLAURIERS INSURANCE MGNT 2025-1 REPRICING TL SR SECURED 03-15-203081,536 
Jpmorgan Chase & CoJPMORGAN CHASE & CO 01-24-20294.915 %101,892 
Jpmorgan Chase & CoJPMORGAN CHASE & CO FLTG RT 09-22-2027400,958 
Jpmorgan Chase & CoJPMORGAN CHASE & CO SR NT FLTG RATE 07-22-20284.60032 %301,915 
Jpmorgan Chase & CoJPMORGAN CHASE BK N A MANDATORY TRANCHE # TR 00246 VAR DTD 10-19-20270.125 %387,280 
Jpmorgan Chase & CoJPMORGAN CHASE BK N A MANDATORY TRANCHE # TR 00247 VAR DTD 10-27-20270.125 %651,990 
Jpmorgan Chase & CoJPMORGAN CHASE BK N A MANDATORY TRANCHE # TR 00258 VAR DTD 07-05-20280.125 %309,000 
Jyske RealkreditJYSKE REALKREDIT BDS 01/10/43 DKK0.010.5 %969 
Jyske RealkreditJYSKE REALKREDIT CVD BDS 01/10/2053DKK1.5 %— 
Jyske RealkreditJYSKE REALKREDIT CVD BDS 01/10/53 DKK0.1.5 %11,486 
KIOXIAKIOXIA HLDGS CORP 07-24-20336.625 %234,005 
L Brands IncL BRANDS INC DUE 07-01-20366.75 %86,350 
L Brands IncL BRANDS INC DUE 11-01-20356.875 %270,115 
Labl MulticolorLABL MULTICOLOR USD LABL MULTICOLOR OCTOBER 2021 TERM LOAN L500 10-22-2028110,087 
Level 3 Financing IncLEVEL 3 FINANCING INC TERM B-1 TERM LOANSENIOR SECURED 04-15-202975,536 
Liberty Media CorpLIBERTY MEDIA CORP SR EXCHANGEABLE EXCH INTO SPRINT 3.75 02-15-30/02-15-0414,365 
LIFEPOINT HEALTH INCLIFEPOINT HEALTH INC 2024-1 REFINANCING TERM LOAN SENIOR SECURED 05-17-2031384,353 
Lithia Mtrs IncLITHIA MTRS INC SR NT 144A 06-01-20293.875 %485,397 
Live Nation EntertainmentLIVE NATION ENTMT DUE 05-15-20276.5 %136,213 
Lumen Technologies, Inc.LUMEN TECHNOLOGIES, INC. SENIOR SECURED TERM B-1 LOAN 04-15-2029532,100 
LUNALUNA 1 5 S A R L SR PIK TOGGLE NT 144A DUE 07-01-2032/01-01-2026 BEO12 %386,294 
M / I Homes IncM / I HOMES INC DUE 02-15-20303.95 %327,182 
Madison Iaq LlcMADISON IAQ LLC DUE 06-30-20284.125 %169,980 
Madison Iaq LlcMADISON IAQ LLC DUE 06-30-20295.875 %133,190 
Marriott Ownership Resorts IncMARRIOTT OWNERSHIP RESORTS INC DUE01-15-2028 REG4.75 %460,993 
Marriott Ownership Resorts IncMARRIOTT OWNERSHIP RESORTS INC 10-01-20336.5 %331,043 
Match Group Hldgs Ii LlcMATCH GROUP HLDGS II LLC SR NT 144A 10-01-20313.625 %149,574 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Match Group IncMATCH GROUP INC DUE 12-15-20275 %191,973 
MCAFEE CORPMCAFEE CORP TERM LOAN B 03-01-2029600,737 
Methanex CorpMETHANEX CORP 10-15-20275.125 %43,240 
Metis MergerMETIS MERGER SUB DUE 05-15-20296.5 %430,080 
Mgm Resorts IntlMGM RESORTS INTL DUE 09-01-20264.625 %472,131 
Mgm Resorts IntlMGM RESORTS INTL DUE 10-15-20284.75 %389,130 
Mgm Resorts IntlMGM RESORTS INTL DUE 04-15-20275.5 %274,170 
Mgm Resorts IntlMGM RESORTS INTL 09-15-20296.125 %260,001 
Mgm Resorts IntlMGM RESORTS INTL 04-15-20326.5 %23,697 
MICROSOFT CORPMICROSOFT CORP DUE 08-08-20363.45 %118,987 
MODENAMODENA BUYER LLC INITIAL TERM LOAN SR SECD 07-01-2031142,576 
Molina HealthcareMOLINA HEALTHCARE DUE 06-15-20284.375 %205,540 
Molina Healthcare IncMOLINA HEALTHCARE INC SR NT 144A 05-15-20323.875 %542,338 
Mosaic SolarMOSAIC SOLAR LN TR DUE 01-20-20532.64 %220,346 
Msci IncMSCI INC DUE 09-01-20303.625 %118,512 
Msci IncMSCI INC SR NT 144A 11-01-20313.625 %211,476 
Murphy Oil CorpMURPHY OIL CORP 5.125 12-01-204251,590 
Nabors Inds IncNABORS INDS INC NEW 01-31-20309.125 %308,440 
NAVIENTNAVIENT CORP 03-15-203111.5 %85,124 
Navient CorpNAVIENT CORP DUE 03-15-20275 %14,026 
Navient CorpNAVIENT CORP 06-15-20266.75 %30,315 
Navient CorpNAVIENT CORP 07-25-20309.375 %82,237 
Neptune Bidco Us IncNEPTUNE BIDCO US INC 04-15-20299.29 %43,073 
Neptune Bidco Us IncNEPTUNE BIDCO US INC. DOLLAR TERM B LOANFIRST LIEN TL SENIOR SECD 04-11-202981,983 
Neptune Bidco Us IncNISSAN MTR LTD DUE 09-17-20274.345 %197,285 
Nordea RealkreditNORDEA REALKREDIT CVD BDS 01/10/2043 DKK0.5 %— 
Nordea RealkreditNORDEA REALKREDIT CVD BDS 01/10/2053 DKK1.5 %— 
Nordea RealkreditNORDEA REALKREDIT CVD BDS 01/10/2053 DKK1.5 %10,581 
Nordea RealkreditNORDEA REALKREDIT CVD BDS 01/10/2053 DKK1.5 %23,358 
Nordea RealkreditNORDEA REALKREDIT CVD BDS 01/10/53 DKK0.012 %26,290 
Nordstrom IncNORDSTROM INC DUE 01-15-20445 %213,123 
Novastar MtgNOVASTAR MTG FDG TR SER 06-1 CL A1A FLTG 05-25-203613,281 
Nrg Energy IncNRG ENERGY INC SR NT 144A 02-15-20323.875 %231,895 
Nykredit RealkrediNYKREDIT REALKREDI CVD BDS 01/10/2043 DKK0.5 %— 
Nykredit RealkrediNYKREDIT REALKREDI CVD BDS 01/10/2053 DKK1.5 %— 
Nykredit RealkrediNYKREDIT REALKREDI CVD BDS 01/10/2053 DKK1.5 %— 
Nykredit RealkrediNYKREDIT REALKREDI CVD BDS 01/10/2053 DKK1.5 %10,520 
Nykredit RealkrediNYKREDIT REALKREDI CVD BDS 01/10/53 DKK0.012 %— 
OBXOBX 2021-INV2 TR FLTG RT DUE 10-25-20514.56721 %285,315 
Occidental Petroleum CorpOCCIDENTAL PETE DUE 03-15-20484.2 %57,612 
Occidental Petroleum CorpOCCIDENTAL PETE CORP SR NT 09-15-20366.45 %213,193 
Occidental Petroleum CorpOCCIDENTAL PETE CORP SR NT 03-15-20466.6 %76,647 
Occidental Petroleum CorpOCCIDENTAL PETROLEUM CORP DUE 08-15-2029/08-08-2019 REG3.5 %40,530 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Occidental Petroleum CorpOCCIDENTAL PETROLEUM CORP DUE 08-15-20394.3 %7,755 
ONEONE 2021-PK MTG TR 03-15-20364.49548 %399,031 
Onemain DirectONEMAIN DIRECT DUE 11-14-20295.41 %302,265 
Onemain DirectONEMAIN FIN CORP 03-15-20336.5 %66,668 
Onemain DirectONEMAIN FIN CORP 09-15-20327.125 %93,504 
Onemain Fin CorpONEMAIN FIN CORP 05-15-20317.5 %44,191 
Onemain Fin CorpONEMAIN FIN CORP 03-15-20307.875 %341,428 
Onemain Fin CorpONEMAIN FIN CORP SR NT 01-15-20273.5 %139,624 
Onemain Finance CorpONEMAIN FINANCE CORP 05-15-20296.625 %51,780 
Oneok IncONEOK INC 09-24-20274.25 %301,045 
Ontario Gaming Gta LimitONTARIO GAMING GTA LIMITED PARTNERSHIP TERM LOAN B SENIOR SECURED TL 07-20-203047,093 
Option Care Health IncOPTION CARE HEALTH INC 10-31-20294.375 %404,491 
OPTIV INCOPTIV INC TERM LOAN SENIOR SECURED TERM LOAN 08-17-2026147,940 
ORACLE CORPORACLE CORP FLTG RT 08-03-202898,675 
Oscar Us Fdg Xiv LlcOSCAR US FDG XIV LLC NT CL A-4 144A 04-10-20292.82 %202,242 
Penske AutomotivePENSKE AUTOMOTIVE DUE 06-15-20293.75 %283,952 
PERATON CORPPERATON CORP. TERM B LOAN (FIRST LIEN) DUE 02-01-2028 BEO272,877 
PHILIP MORRIS INTLPHILIP MORRIS INTL INC 04-28-20284.125 %401,903 
PINNACLE WEST CAPITALPINNACLE WEST CAPITAL CORP 05-15-20284.9 %203,669 
PLAYTIKA HOLDINGPLAYTIKA HOLDING CORP. FLTG RT TBL 03-05-202865,977 
Polar Us Borrower LlcPOLAR US BORROWER LLC SENIOR SECURED TERM B-1 LOAN 10-16-202836,416 
Polaris Newco LlcPOLARIS NEWCO LLC TLB LIEN1 06-02-2028 USD727,372 
POST HLDGS INCPOST HLDGS INC DUE 04-15-20304.625 %20,451 
Precision Drilling CorpPRECISION DRILLING CORP SR NT 144A 01-15-20296.875 %131,459 
Pre-Paid Legal Services IncPRE-PAID LEGAL SERVICES INC INITIAL TERMLOAN (FIRST LIEN) DUE 12-15-2028— 
PRIMO WTR HLDGS INCPRIMO WTR HLDGS INC / TRITON WTR SR SECDNT 144A 04-30-20294.375 %48,644 
PROOFPOINT INCPROOFPOINT INC SR SEC 2024 REFINANCING TL(FIRST LIEN) 08-31-2028278,530 
CCO HLDGS LLC / CCO HLDGS CAP CORPPVPTL CCO HLDGS LLC / CCO HLDGS CAP CORP DUE 05-01-20275.125 %143,802 
IRON MTN INC NEWPVPTL IRON MTN INC NEW 09-15-20274.875 %324,670 
TRANSOCEAN TITAN FIN LTDPVTL TRANSOCEAN TITAN FIN LTD 01/02/2028 02-01-20288.375 %70,273 
1211 Ave Of The Amers TrPVTPL 1211 AVE OF THE AMERS TR 2015-1211 CL A-1A2 DUE 08-10-2035 BEO3.9005 %386,000 
1261229 BC LTDPVTPL 1261229 BC LTD 04-15-20310 %523,272 
37 CAPITAL CLO LTDPVTPL 37 CAPITAL CLO LTD SER 23-2A CL ARFLTG 04-15-2035699,456 
AAG FH UK PLC / GLOBAL AUTO HLDGS PLCPVTPL AAG FH UK PLC / GLOBAL AUTO HLDGS PLC 08-15-202911.5 %209,339 
ABN AMRO BANK NVPVTPL ABN AMRO BANK NV 10-13-20266.575 %— 
ACADIA HEALTHCARE CO INCPVTPL ACADIA HEALTHCARE CO INC 03-15-20337.375 %35,350 
ACADIA HEALTHCARE CO INCPVTPL ACADIA HEALTHCARE CO INC SR NT 04-15-20295 %270,645 
ACRISURE LLC/ACRISURE FIN INCPVTPL ACRISURE LLC/ACRISURE FIN INC 02-01-20298.25 %350,653 
ACRISURE LLC/ACRISURE FIN INCPVTPL ACRISURE LLC/ACRISURE FIN INC SR NT 08-01-20296 %109,604 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
ACUSHNET CO DEL SRPVTPL ACUSHNET CO DEL SR 12-01-20335.625 %47,528 
AHP HEALTH PARTNERS INCPVTPL AHP HEALTH PARTNERS INC SR NT 07-15-20295.75 %122,944 
ALBERTSONS COS INCPVTPL ALBERTSONS COS INC DUE 02-15-20304.875 %319,329 
ALBERTSONS COS INC FIXEDPVTPL ALBERTSONS COS INC FIXED 02-15-20285.875 %135,517 
ALBERTSONS COS INC/SAFEWAY INC/ APVTPL ALBERTSONS COS INC/SAFEWAY INC/ A DUE 01-15-2027 BEO4.625 %156,851 
ALBERTSONS COS INC/SAFEWAY INC/NEWAPVTPL ALBERTSONS COS INC/SAFEWAY INC/NEWA DUE 03-15-2029/08-31-2020 BEO3.5 %289,063 
ALLIANT HLDGSPVTPL ALLIANT HLDGS 10-01-20316.5 %138,179 
ALLISON TRANSMISSION INCPVTPL ALLISON TRANSMISSION INC DUE01-30-2031/11-19-2020 BEO3.75 %289,075 
ALLISON TRANSMISSION INCPVTPL ALLISON TRANSMISSION INC 12-01-20335.875 %113,829 
ALTICE FRANCE SASPVTPL ALTICE FRANCE SAS 11-01-20299.5 %274,923 
AMER SPORTS COPVTPL AMER SPORTS CO 02-16-20316.75 %132,061 
AMERICAN AXLE & MANUFACTURING INCPVTPL AMERICAN AXLE & MANUFACTURING INC 10-15-20326.375 %121,172 
AMERICAN FIN TR INC/AMERN FIN OPERPARPVTPL AMERICAN FIN TR INC/AMERN FIN OPERPAR 09-30-20284.5 %240,087 
AMERIGAS PART/FIN CORPPVTPL AMERIGAS PART/FIN CORP 06-01-20309.5 %308,934 
AMWINS GROUP INCPVTPL AMWINS GROUP INC 02-15-20296.375 %170,686 
Amynta Agy Borrower Inc/AmyntaPVTPL AMYNTA AGY BORROWER INC/AMYNTA WAR 07-15-20337.5 %143,233 
Apidos Clo Xxiv / Apidos Clo Xxiv LlcPVTPL APIDOS CLO XXIV / APIDOS CLO XXIV LLC CLO VAR RT DUE 10-20-2030 BEO113,554 
Arbor Rlty Coml Real Estate NtsPVTPL ARBOR RLTY COML REAL ESTATE NTS 2021-FL4 SR 21-FL4 CL A 11-15-2036175,043 
ARCHES BUYER INCPVTPL ARCHES BUYER INC 144A DUE 06-01-2028 BEO4.25 %34,349 
ARCHROCK PARTNERS L P/ARCHROCK PARTNERPVTPL ARCHROCK PARTNERS L P/ARCHROCK PARTNER DUE 04-01-20286.25 %107,605 
ARDAGH METAL PACKAGING FIN PLC/ARDAGHPVTPL ARDAGH METAL PACKAGING FIN PLC/ARDAGH DUE 09-01-2029 BEO4 %387,895 
ARDONAGH FINCO LTDPVTPL ARDONAGH FINCO LTD 02-15-20317.75 %564,015 
ATHENE GLOBAL FUNDINGPVTPL ATHENE GLOBAL FUNDING FLTG RT 07-16-2026400,609 
AVANTORPVTPL AVANTOR DUE 07-15-2028 BEO4.625 %91,500 
AVANTOR FUNDING INCPVTPL AVANTOR FUNDING INC DUE 11-01-2029/10-26-2021 BEO3.875 %328,048 
BAIN CAPITAL CREDIT CLO LIMITEDPVTPL BAIN CAPITAL CREDIT CLO LIMITED SER 20-3A CL A1R FLTG 10-23-2034600,540 
Bain Capital Credit Clo LimitedPVTPL BAIN CAPITAL CREDIT CLO LIMITED SR 19-3A CL ARR FLTG RT 10-21-2034499,800 
Bain Capital Credit Clo LtdPVTPL BAIN CAPITAL CREDIT CLO LTD SR 21-3A AR FLTG RT 07-24-2034499,478 
BALDWIN INS GROUP HLDGS LLCPVTPL BALDWIN INS GROUP HLDGS LLC 05-15-20317.125 %83,924 
BAUSCH HEALTH COS INCPVTPL BAUSCH HEALTH COS INC DUE 06-01-2028 BEO4.875 %108,295 
BAUSCH HEALTH COS INCPVTPL BAUSCH HEALTH COS INC SR NT DUE 01-30-2028 BEO5 %99,750 
BEACH ACQUISITION BIDCO LLCPVTPL BEACH ACQUISITION BIDCO LLC PIK 07-15-203310 %220,738 
BELRON UK FIN PLCPVTPL BELRON UK FIN PLC 10-15-20295.75 %204,242 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Benefit Street Partners Clo LtdPVTPL BENEFIT STREET PARTNERS CLO LTD SR 20-22A CL ARR FRN 04-20-2035800,002 
BERRY GLOBAL ESCROW CORP FIXEDPVTPL BERRY GLOBAL ESCROW CORP FIXED 07-15-2026 BEO4.875 %220,041 
BLOOM ENERGY CORPPVTPL BLOOM ENERGY CORP 11-15-20300 %66,120 
BLUE RACER MID LLC/FINANPVTPL BLUE RACER MID LLC/FINAN 07-15-20297 %83,431 
Bluemountain Clo LtdPVTPL BLUEMOUNTAIN CLO LTD SR 22-34A CL AR FLTG RT 04-20-2035600,000 
Bluemountain Clo LtdPVTPL BLUEMOUNTAIN CLO LTD SR 22-34A CL AR FLTG RT 04-20-2035800,000 
Bluemountain Clo Xxii LtdPVTPL BLUEMOUNTAIN CLO XXII LTD 18-1A CL A-1 FLTG RT 07-15-2031123,696 
BMW US CAP LLCPVTPL BMW US CAP LLC 03-21-20284.75 %101,482 
BMW US CAP LLCPVTPL BMW US CAP LLC SR NT 08-11-20285.05 %205,126 
BMW US CAPITAL LLCPVTPL BMW US CAPITAL LLC 03-19-20274.65 %201,664 
BOMBARDIER INCPVTPL BOMBARDIER INC 06-15-20336.75 %208,251 
BOMBARDIER INCPVTPL BOMBARDIER INC 11-15-20308.75 %83,199 
BONANZA CREEK ENERGY INCPVTPL BONANZA CREEK ENERGY INC 10-15-20265 %412,840 
BORR IHC LIMITEDPVTPL BORR IHC LIMITED 11-15-202810 %306,224 
BPCE SAPVTPL BPCE SA 10-19-20276.612 %305,649 
BROADCOM INCPVTPL BROADCOM INC DUE 11-15-2035 BEO3.137 %104,451 
CACI INTL INCPVTPL CACI INTL INC 06-15-20336.375 %339,375 
CAESARS ENTERTAINMENT INCPVTPL CAESARS ENTERTAINMENT INC DUE 10-15-2029 BEO4.625 %414,391 
CAESARS ENTERTAINMENT INCPVTPL CAESARS ENTERTAINMENT INC 10-15-20326 %10,696 
CALIFORNIA RES CORPPVTPL CALIFORNIA RES CORP 06-15-20298.25 %274,047 
CARNIVAL CORPPVTPL CARNIVAL CORP 08-01-20284 %295,587 
CARPENTER TECHNOLOGY CORPPVTPL CARPENTER TECHNOLOGY CORP 03-01-20345.625 %151,294 
CARRIAGE PURCHASER INCPVTPL CARRIAGE PURCHASER INC 10-15-20297.875 %276,002 
Carvana Auto Receivables TrustPVTPL CARVANA AUTO RECEIVABLES TRUST SR 25-N1 CL A2 05-10-20284.78 %236,896 
CARVANA COPVTPL CARVANA CO PIK 06-01-20319 %262,010 
CARVANA COPVTPL CARVANA CO PIK 06-01-20319 %371,937 
CCO HLDGS LLCPVTPL CCO HLDGS LLC 144A 02-01-20285 %233,153 
CCO HLDGS LLC/CAP CORPPVTPL CCO HLDGS LLC/CAP CORP DUE 03-01-20304.75 %62,082 
CCO HLDGS LLC/CCO HLDGS CAP CORPPVTPL CCO HLDGS LLC/CCO HLDGS CAP CORP DUE 02-01-20314.25 %193,012 
CCO HLDGS LLC/CCO HLDGS CAP CORPPVTPL CCO HLDGS LLC/CCO HLDGS CAP CORP DUE 08-15-20304.5 %72,496 
CCO HLDGS LLC/CCO HLDGS CAP CORP BNDSPVTPL CCO HLDGS LLC/CCO HLDGS CAP CORP BNDS DUE 05-01-20265.5 %559,925 
CDI ESCROW ISSPVTPL CDI ESCROW ISS 04-01-20305.75 %130,250 
CENTRAL PARENT LLC/CDK GLOBAL II LLCPVTPL CENTRAL PARENT LLC/CDK GLOBAL II LLC 06-15-20298 %259,917 
CHARLES RIV LABORATORIES INTL INCPVTPL CHARLES RIV LABORATORIES INTL INC DUE 05-01-20284.25 %41,622 
CHARLES RIVER LABORATORIPVTPL CHARLES RIVER LABORATORI DUE 03-15-20314 %327,967 
CHART INDUSTRIES INCPVTPL CHART INDUSTRIES INC DUE 01-01-2030 BEO7.5 %257,435 
CHART INDUSTRIES INCPVTPL CHART INDUSTRIES INC DUE 01-01-2031 BEO9.5 %348,161 
CHOBANI HOLDCO II LLCPVTPL CHOBANI HOLDCO II LLC PIK 10-01-20298.75 %189,006 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
CHOBANI LLC/CHOBANI FIN CORP INCPVTPL CHOBANI LLC/CHOBANI FIN CORP INC 07-01-20297.625 %63,628 
CHORD ENERGY CORPPVTPL CHORD ENERGY CORP 10-01-20306 %172,929 
CHORD ENERGY CORPPVTPL CHORD ENERGY CORP 03-15-20336.75 %191,291 
CHS/CMNTY HEALTH SYS INCPVTPL CHS/CMNTY HEALTH SYS INC 01-15-203210.875 %3,274 
CHS/CMNTY HEALTH SYS INCPVTPL CHS/CMNTY HEALTH SYS INC DUE02-15-2031/02-09-2021 BEO4.75 %234,252 
CHS/COMMUNITY HEALTH SYSPVTPL CHS/COMMUNITY HEALTH SYS 01-15-20349.75 %448,490 
CHURCHILL DOWNSPVTPL CHURCHILL DOWNS 01-15-20284.75 %335,744 
CHURCHILL DOWNSPVTPL CHURCHILL DOWNS DUE 04-01-20275.5 %212,000 
CIFC FDG 2017-IV LTDPVTPL CIFC FDG 2017-IV LTD SER 17-4A CL A1R FLTG 10-24-203062,256 
CITIGROUP GLOBAL MKTS HLDGS INCPVTPL CITIGROUP GLOBAL MKTS HLDGS INC 04-18-20280.125 %374,843 
CIVITAS RES INCPVTPL CIVITAS RES INC 07-01-20288.375 %280,253 
CIVITAS RES INCPVTPL CIVITAS RES INC 11-01-20308.625 %221,144 
CIVITAS RESOURCES INCPVTPL CIVITAS RESOURCES INC 07-01-20318.75 %41,496 
CLARIOS GLOBAL LPPVTPL CLARIOS GLOBAL LP 02-15-20306.75 %179,535 
CLARIOS GLOBAL LP/CLARIOS US FINAPVTPL CLARIOS GLOBAL LP/CLARIOS US FINA 09-15-20326.75 %171,221 
CLARIVATE SCIENCE HLDGS CORP SRPVTPL CLARIVATE SCIENCE HLDGS CORP SR \NT 07-01-20294.875 %321,465 
CLOUD SOFTWARE GROUP INCPVTPL CLOUD SOFTWARE GROUP INC 08-15-20336.625 %198,211 
CLOUD SOFTWARE GROUP INCPVTPL CLOUD SOFTWARE GROUP INC 06-30-20328.25 %630,159 
CLOUD SOFTWARE GROUP INCPVTPL CLOUD SOFTWARE GROUP INC 09-30-20299 %750,700 
CMO 280 PK AVE 2017-280P MTG TR COML CTFPVTPL CMO 280 PK AVE 2017-280P MTG TR COML CTF CL A VAR DUE 09-15-2034398,688 
CMO ATRIUM HOTE 2017-ATRM COML MTGPVTPL CMO ATRIUM HOTE 2017-ATRM COML MTG 144A CL A VAR RT DUE 11-15-2019347,290 
CMO CIM TRUSTPVTPL CMO CIM TRUST SER 19-INV1 CLS A2 FLTG RT 02-25-204912,478 
Cmo Colony Mtg Cap LtdPVTPL CMO COLONY MTG CAP LTD SR 19-IKPR CL A FLTG 11-15-2038169,216 
CMO COMMPVTPL CMO COMM SER 2019-521F CL A FLTG 144A DUE 06-15-2034679,000 
CMO MILL CITY MTG LN TR 2019-GS2PVTPL CMO MILL CITY MTG LN TR 2019-GS2 SER 19-GS2 CLS A1 VAR RT 08-25-2059148,621 
Cmo New Orl Hotel TrPVTPL CMO NEW ORL HOTEL TR 2019-HNLASER 19-HNLA CLS A VAR RT DUE 04-15-2032 BEO397,546 
CMO NEW RESIDENTIAL MTG LNPVTPL CMO NEW RESIDENTIAL MTG LN SER 19-RPL3 CL A1 FRN 07-25-2059 BEO183,982 
CMO ONE MKT PLAZA TRPVTPL CMO ONE MKT PLAZA TR SER 2017-1MKT CL A 144A 02-10-2032 BEO3.6139 %488,443 
Cmo Sfo Coml Mtg TrPVTPL CMO SFO COML MTG TR 2021-555 SFO 2021-555 A VAR RT DUE 05-15-2038 BEO798,113 
CMO SMB PRIVATE ED LN TR 2022-BPVTPL CMO SMB PRIVATE ED LN TR 2022-B DUE 12-31-20490 %189,542 
CMO SMB PRIVATE ED LN TR 2022-BPVTPL CMO SMB PRIVATE ED LN TR 2022-B DUE 12-31-2049 BEO0 %195,243 
COBRA ACQUISITIONCO LLCPVTPL COBRA ACQUISITIONCO LLC 11-01-20296.375 %71,869 
COINBASE GLOBAL INCPVTPL COINBASE GLOBAL INC ZCP 10-01-2032199,474 
COMMERCIAL METALS COPVTPL COMMERCIAL METALS CO 11-15-20335.75 %83,848 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
COMMERCIAL METALS COPVTPL COMMERCIAL METALS CO 12-15-20356 %84,151 
COMPASS GROUP DIVERSIFIED HLDGS LLCPVTPL COMPASS GROUP DIVERSIFIED HLDGS LLC DUE 04-15-2029/03-23-2021 BEO5.25 %85,333 
COMSTOCK RES INC COMSTOCK RE INCPVTPL COMSTOCK RES INC COMSTOCK RE INC DUE 01-15-2030 BEO5.875 %2,918 
CONSOLIDATED ENERGY FIN S A NT USDPVTPL CONSOLIDATED ENERGY FIN S A NT USD 10-15-20285.625 %161,200 
CONTINENTAL RESOURCESPVTPL CONTINENTAL RESOURCES 11-15-20262.268 %391,821 
CONTOURGLOBAL POWER HOLDINGS SAPVTPL CONTOURGLOBAL POWER HOLDINGS SA 02-28-20306.75 %302,115 
CORELOGIC INCPVTPL CORELOGIC INC DUE 05-01-20284.5 %389,295 
COREWEAVE INCPVTPL COREWEAVE INC 02-01-20319 %5,499 
COREWEAVE INCPVTPL COREWEAVE INC 06-01-20309.25 %274,283 
CREDIT ACCEPTANCEPVTPL CREDIT ACCEPTANCE 12-15-20289.25 %83,613 
CREDIT AGRICOLE S APVTPL CREDIT AGRICOLE S A FLTG RT 09-11-2028301,587 
CRESTWOOD MIDSTREAM PARTNERS LPPVTPL CRESTWOOD MIDSTREAM PARTNERS LP DUE 02-01-20317.375 %92,469 
CSC HLDGS LLCPVTPL CSC HLDGS LLC 144A DUE 02-15-2031/08-17-2020 BEO3.375 %207,609 
CSC HLDGS LLCPVTPL CSC HLDGS LLC 12-01-20304.625 %190,740 
CSC HOLDINGS LLC SR GTD NTPVTPL CSC HOLDINGS LLC SR GTD NT 11-15-20314.5 %164,700 
DANSKE BANK A/SPVTPL DANSKE BANK A/S 03-01-20285.427 %203,123 
DARLING INGREDIENTS INCPVTPL DARLING INGREDIENTS INC 06-15-20306 %178,892 
DAVITA INCPVTPL DAVITA INC 02-15-20313.75 %274,449 
DAVITA INCPVTPL DAVITA INC 09-01-20326.875 %138,436 
DAVITA INCPVTPL DAVITA INC SR NT 07-15-20336.75 %117,169 
DBR LAND HOLDINGS LLCPVTPL DBR LAND HOLDINGS LLC 12-01-20306.25 %198,439 
DIAMOND FGN ASSET CO/DIAMOND FIN LLCPVTPL DIAMOND FGN ASSET CO/DIAMOND FIN LLC 10-01-20308.5 %132,473 
DISH NETWORK CORPORATIONPVTPL DISH NETWORK CORPORATION DUE 11-15-2027 BEO11.75 %199,818 
Dryden 95 Clo LtdPVTPL DRYDEN 95 CLO LTD SR 21-95A CL A-R FLTG 08-20-2034499,423 
Dryden Senior Loan FundPVTPL DRYDEN SENIOR LOAN FUND SR 18-64A CL A FLTG DUE 04-18-2031203,043 
ELASTIC N VPVTPL ELASTIC N V DUE 07-15-2029/07-15-2024 BEO4.125 %323,442 
EMERALD DEBT MERGERPVTPL EMERALD DEBT MERGER 12-15-20306.625 %155,306 
ENDO FIN HLDGS INCPVTPL ENDO FIN HLDGS INC 04-15-20318.5 %356,196 
ENTEGRIS ESCROW CORP SR SECD NTPVTPL ENTEGRIS ESCROW CORP SR SECD NT 144A DUE 04-15-2029/04-14-2022 BEO4.75 %311,042 
ENTEGRIS INCPVTPL ENTEGRIS INC SR NT 144A DUE04-15-2028/04-30-2020 BEO4.375 %41,713 
FIBERCOP SPAPVTPL FIBERCOP SPA 09-30-20346 %189,469 
FMG RES AUGUST 2006 PTY LTDPVTPL FMG RES AUGUST 2006 PTY LTD 04-15-20305.875 %140,804 
FMG RES AUGUST 2006 PTY LTDPVTPL FMG RES AUGUST 2006 PTY LTD 04-15-20326.125 %238,379 
Fmg ResourcesPVTPL FMG RESOURCES AUG 2006 DUE 04-01-2031 BEO4.375 %120,861 
FOCUS FINL PARTNERS LLCPVTPL FOCUS FINL PARTNERS LLC 09-15-20316.75 %203,872 
FORD CR AUTO OWNER TR 2023-REV1 231PVTPL FORD CR AUTO OWNER TR 2023-REV1 231 CL A 08-15-20354.85 %255,037 
FORTREA HLDGS INCPVTPL FORTREA HLDGS INC 07-01-20307.5 %196,263 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Fortress Cr Bsl Vii LtdPVTPL FORTRESS CR BSL VII LTD SR 21-1A CL A-1-R FLTG 07-23-2032223,273 
FORTRESS TRANSN & INFRASTRUCTURE INVS LLPVTPL FORTRESS TRANSN & INFRASTRUCTURE INVS LL 12-01-20307.875 %336,091 
FREEDOM MORTGAGE CORPORATIONPVTPL FREEDOM MORTGAGE CORPORATION 01-15-20276.625 %58,217 
FREEDOM MORTGAGE CORPORATIONPVTPL FREEDOM MORTGAGE CORPORATION 02-01-20299.25 %164,078 
FREEDOM MORTGAGE HOLDPVTPL FREEDOM MORTGAGE HOLD 04-01-20337.875 %63,297 
FREEDOM MTG CORPPVTPL FREEDOM MTG CORP 10-01-203012.25 %57,675 
FRONTIER COMMUNICATIONS CORPPVTPL FRONTIER COMMUNICATIONS CORP DUE 05-01-2028 BEO5 %198,340 
FRONTIER COMMUNICATIONS HLDGS LLCPVTPL FRONTIER COMMUNICATIONS HLDGS LLC 01-15-20306 %90,506 
FRONTIER COMMUNICATIONS HLDGS LLCPVTPL FRONTIER COMMUNICATIONS HLDGS LLC 03-15-20318.625 %67,340 
FRONTIER COMMUNICATIONS HLDGS LLCPVTPL FRONTIER COMMUNICATIONS HLDGS LLC 05-15-20308.75 %361,345 
GARDA WORLD SECURITY CORPPVTPL GARDA WORLD SECURITY CORP 01-15-20316.5 %52,188 
GARDA WORLD SECURITY CORPPVTPL GARDA WORLD SECURITY CORP 02-15-20287.75 %111,463 
GARDA WORLD SECURITY CORPPVTPL GARDA WORLD SECURITY CORP 08-01-20328.25 %98,552 
GARDA WORLD SECURITY CORPPVTPL GARDA WORLD SECURITY CORP 11-15-20328.375 %251,586 
GEN DIGITAL INCPVTPL GEN DIGITAL INC DUE 04-01-20336.25 %144,375 
GFL ENVIRONMENTAL INCPVTPL GFL ENVIRONMENTAL INC 08-01-20284 %378,777 
GLOBAL AUTO HO/AAG FH UKPVTPL GLOBAL AUTO HO/AAG FH UK 01-15-20298.375 %196,500 
GLOBAL NET LEASE INC & GLOBAL NET LEASE 3.75PVTPL GLOBAL NET LEASE INC & GLOBAL NET LEASE 3.75 DUE 12-15-2027/12-17-2020 BEO283,381 
GO DADDY OPER CO LLC/GD FIN CO INCPVTPL GO DADDY OPER CO LLC/GD FIN CO INC 12-01-20275.25 %15,039 
GO DADDY OPER CO LLC/GDPVTPL GO DADDY OPER CO LLC/GD FIN CO INC DUE 03-01-2029 BEO3.5 %19,176 
GOEASY LTDPVTPL GOEASY LTD 02-15-20316.875 %87,927 
GOEASY LTDPVTPL GOEASY LTD 07-01-20297.625 %66,277 
GOEASY LTDPVTPL GOEASY LTD 12-01-20289.25 %281,723 
GRAPHIC PACKAGING INTL LLCPVTPL GRAPHIC PACKAGING INTL LLC DUE 03-01-2029 BEO3.5 %247,768 
GRAPHIC PACKAGING INTL LLCPVTPL GRAPHIC PACKAGING INTL LLC SR NT 02-01-20303.75 %324,234 
GREAT CANADIAN GAMING CORPPVTPL GREAT CANADIAN GAMING CORP 11-15-20298.75 %169,705 
GROUP 1 AUTOMOTIVE INC GROUP 1PVTPL GROUP 1 AUTOMOTIVE INC GROUP 1 DUE 08-15-2028 BEO4 %172,545 
GS MORTGAGE SECURITIES TRUSTPVTPL GS MORTGAGE SECURITIES TRUST SER 2018-LUAU CL E E 11-15-2032 BEO226,117 
GTCR W-2 MERGER SUB LLCPVTPL GTCR W-2 MERGER SUB LLC 01-15-20317.5 %320,967 
HAH GROUP HOLDING COMPANY LLCPVTPL HAH GROUP HOLDING COMPANY LLC 10-01-20319.75 %511,553 
HEARTLAND DENTAL LLC/ SR SECD NTPVTPL HEARTLAND DENTAL LLC/ SR SECD NT 144A 04-30-202810.5 %27,261 
HEINZ H J FIN CO GTD NTPVTPL HEINZ H J FIN CO GTD NT 144A DUE 08-01-2039 BEO7.125 %78,243 
HERC HOLDINGS INCPVTPL HERC HOLDINGS INC 03-15-20315.75 %30,460 
HERC HOLDINGS INCPVTPL HERC HOLDINGS INC 03-15-20346 %58,752 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
HESS MIDSTREAM OPERATIONSPVTPL HESS MIDSTREAM OPERATIONS 03-01-20285.875 %198,447 
HESS MIDSTREAM OPERATIONS LPPVTPL HESS MIDSTREAM OPERATIONS LP 06-01-20296.5 %47,573 
HILCORP ENERGY I L P / HILCORPPVTPL HILCORP ENERGY I L P / HILCORP 02-15-20357.25 %79,831 
HILCORP ENERGY I L P/HILCORP FIN COPVTPL HILCORP ENERGY I L P/HILCORP FIN CO SR NT 11-01-20338.375 %171,560 
HILCORP ENERGY I L P/HILCORP FIN COPVTPL HILCORP ENERGY I L P/HILCORP FIN CO 05-15-20346.875 %126,475 
HILTON DOMESTIC OPER CO INCPVTPL HILTON DOMESTIC OPER CO INC DUE 02-15-2032/02-02-2021 BEO3.625 %199,578 
HILTON DOMESTIC OPER CO INCPVTPL HILTON DOMESTIC OPER CO INC DUE 05-01-2031 BEO4 %127,332 
HILTON GRAND VACATIONS BORROWER ESCROW LPVTPL HILTON GRAND VACATIONS BORROWER ESCROW L SR NT 06-01-20295 %44,677 
HYUNDAI CAP AMERPVTPL HYUNDAI CAP AMER 06-23-20284.9 %203,195 
IHO VERWALTUNGS GMBHPVTPL IHO VERWALTUNGS GMBH PIK 11-15-20307.75 %210,148 
ILIAD HLDG S A SPVTPL ILIAD HLDG S A S DUE 10-15-2028 BEO7 %230,859 
ILIAD HLDG S A SPVTPL ILIAD HLDG S A S DUE 04-15-20318.5 %314,263 
ILLUMINATE BUYER LLC/ILLUMINATE HLDGSPVTPL ILLUMINATE BUYER LLC/ILLUMINATE HLDGS SR NT 144A DUE 07-01-20289 %93,126 
IQVIA INCPVTPL IQVIA INC 06-01-20326.25 %126,435 
IREN LTDPVTPL IREN LTD 07-01-20310 %494,654 
IRIS ESCROW ISSUER CORPPVTPL IRIS ESCROW ISSUER CORP DUE 12-15-2028/06-22-2022 BEO10 %128,301 
IRON MOUNTAIN INCPVTPL IRON MOUNTAIN INC 07-15-20305.25 %472,219 
IRON MOUNTAIN INCPVTPL IRON MOUNTAIN INC DUE 02-15-20297 %168,467 
IRON MOUNTAIN INFORMATION MANAGEMENPVTPL IRON MOUNTAIN INFORMATION MANAGEMEN DUE 07-15-2032 BEO5 %99,285 
IRON MTN INC NEWPVTPL IRON MTN INC NEW DUE 02-15-2031/08-18-2020 BEO4.5 %87,722 
IRON MTN INC NEWPVTPL IRON MTN INC NEW DUE 09-15-2029 BEO4.875 %61,166 
IRON MTN INC NEWPVTPL IRON MTN INC NEW DUE 07-15-20285 %114,861 
IRON MTN INC NEW BDSPVTPL IRON MTN INC NEW BDS 144A DUE 07-15-2032/06-22-2020 BEO5.625 %1,969 
ITT HLDGS LLCPVTPL ITT HLDGS LLC DUE 08-01-2029/07-08-2021 BEO6.5 %406,040 
J2 GLOBAL INCPVTPL J2 GLOBAL INC DUE 10-15-2030/10-07-2020 BEO4.625 %355,210 
JAZZ SECS DESIGNATED ACTIVITY COPVTPL JAZZ SECS DESIGNATED ACTIVITY CO DUE 01-15-2029 BEO4.375 %465,539 
JH NORTH AMER HLDGS INCPVTPL JH NORTH AMER HLDGS INC 07-31-20326.125 %57,487 
JONES DESLAURIERS INS MGMT INCPVTPL JONES DESLAURIERS INS MGMT INC 03-15-20308.5 %263,018 
KINETIK HLDGS LPPVTPL KINETIK HLDGS LP 12-15-20286.625 %215,214 
Kkr Financial Clo LtdPVTPL KKR FINANCIAL CLO LTD SER 36A CL AR FLTG 10-15-2034599,871 
Kkr Financial Clo LtdPVTPL KKR FINANCIAL CLO LTD SER 36A CL AR FLTG 10-15-2034799,828 
Kkr Financial Clo LtdPVTPL KKR FINANCIAL CLO LTD SR 42A CL ARFLTG RT 07-20-2034499,896 
KRAKEN OIL & GAS PARTNERS LLCPVTPL KRAKEN OIL & GAS PARTNERS LLC 08-15-20297.625 %190,354 
LAMB WESTON HLDGS INCPVTPL LAMB WESTON HLDGS INC SR NT 01-31-20304.125 %54,170 
LAREDO PETE INC NEWPVTPL LAREDO PETE INC NEW SR NT 07-31-20297.75 %64,853 
LCM INVTS HLDGS II LLCPVTPL LCM INVTS HLDGS II LLC DUE 05-01-2029/04-27-2021 BEO4.875 %199,075 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
LCM INVTS HLDGS II LLCPVTPL LCM INVTS HLDGS II LLC 08-01-20318.25 %133,269 
Lcm Ltd PartnershipPVTPL LCM LTD PARTNERSHIP SR SECD NT CL A-1-R FLTG 10-20-2034250,030 
LEVEL 3 FING INCPVTPL LEVEL 3 FING INC DUE 07-15-2029/01-13-2021 BEO3.75 %37,331 
LEVEL 3 FING INCPVTPL LEVEL 3 FING INC 06-15-20294.875 %59,323 
LEVEL 3 FING INCPVTPL LEVEL 3 FING INC 03-31-20347 %527,653 
LGI HOMES INCPVTPL LGI HOMES INC 07-15-20294 %257,893 
LGI HOMES INCPVTPL LGI HOMES INC 12-15-20288.75 %62,597 
LIFEPOINT HEALTH INCPVTPL LIFEPOINT HEALTH INC DUE 01-15-2029 BEO5.375 %251,118 
LIFEPOINT HEALTH INCPVTPL LIFEPOINT HEALTH INC 06-01-203210 %128,653 
LIFEPOINT HEALTH INCPVTPL LIFEPOINT HEALTH INC 10-15-203011 %619,599 
LIFEPOINT HEALTH INCPVTPL LIFEPOINT HEALTH INC DUE 08-15-20309.875 %248,658 
LIGHT & WONDER INCPVTPL LIGHT & WONDER INC 09-01-20317.5 %187,826 
LIGHTNING PWR LLCPVTPL LIGHTNING PWR LLC 08-15-20327.25 %96,777 
LITHIA MOTORS INCPVTPL LITHIA MOTORS INC DUE 12-15-20274.625 %271,588 
LITHIA MTRS INCPVTPL LITHIA MTRS INC DUE 01-15-20314.375 %336,418 
LIVE NATION ENTMT INPVTPL LIVE NATION ENTMT IN DUE 10-15-20274.75 %263,521 
LIVE NATION ENTMT INCPVTPL LIVE NATION ENTMT INC DUE 01-15-2028/01-04-2021 BEO3.75 %10,826 
LUMEN TECHNOLOGIES INCPVTPL LUMEN TECHNOLOGIES INC 04-15-20304.125 %121,383 
LUMEN TECHNOLOGIES INC LAPVTPL LUMEN TECHNOLOGIES INC LA DUE 04-15-2029 BEO4.125 %8,910 
MACQUARIE AIRFINANCE HLDGS LTDPVTPL MACQUARIE AIRFINANCE HLDGS LTD 03-26-20296.4 %59,772 
MACYS RETAIL HLDGS LLCPVTPL MACYS RETAIL HLDGS LLC DUE 03-15-2032 BEO6.125 %83,008 
MAGIC MERGERCO INCPVTPL MAGIC MERGERCO INC 05-01-20285.25 %198,040 
MARRIOTT OWNERSHIP RESORTS INCPVTPL MARRIOTT OWNERSHIP RESORTS INC DUE 06-15-20294.5 %268,470 
MATCH GROUP INCPVTPL MATCH GROUP INC DUE 08-01-20304.125 %126,908 
MATCH GROUP INCPVTPL MATCH GROUP INC DUE 02-15-2029/02-15-2019 BEO5.625 %170,539 
MATCH GROUP INCPVTPL MATCH GROUP INC SR NT 144A DUE 06-01-2028/05-19-2020 BEO4.625 %97,133 
MATTAMY GROUP CORPPVTPL MATTAMY GROUP CORP 12-15-20336 %138,799 
MAV ACQUISITION CORPPVTPL MAV ACQUISITION CORP SR NT 08-01-20298 %559,908 
MAV ACQUISITION CORP SR SECD NTPVTPL MAV ACQUISITION CORP SR SECD NT 144A 08-01-20285.75 %374,773 
MCAFEE CORPPVTPL MCAFEE CORP SR NT 144A DUE 02-15-2030/02-15-2026 BEO7.375 %77,615 
MCGRAW-HILL EDUCATIONPVTPL MCGRAW-HILL EDUCATION 09-01-20317.375 %296,363 
MERCEDES-BENZ FIN NORTH AMER LLCPVTPL MERCEDES-BENZ FIN NORTH AMER LLC 03-31-20284.75 %457,234 
MINERVA MERGER SUB INCPVTPL MINERVA MERGER SUB INC DUE 02-15-20306.5 %97,705 
MOLINA HEALTHCARE INCPVTPL MOLINA HEALTHCARE INC DUE 11-15-2030 BEO3.875 %368,373 
MOLINA HEALTHCARE INCPVTPL MOLINA HEALTHCARE INC 01-15-20336.25 %245,691 
MOLINA HEALTHCARE INCPVTPL MOLINA HEALTHCARE INC 02-15-20316.5 %108,865 
MOSS CREEK RES HLDGS INCPVTPL MOSS CREEK RES HLDGS INC 09-01-20318.25 %126,390 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
MSCI INCPVTPL MSCI INC DUE 08-15-2033 BEO3.25 %61,979 
MSCI INCPVTPL MSCI INC SR NT 144A DUE 02-15-2031/05-26-2020 BEO3.875 %48,064 
NAVIENT PVT ED LN TR 2015-B NTPVTPL NAVIENT PVT ED LN TR 2015-B NT CL A-3 FLTG RATE 144A VAR RT DUE 07-16-204087,304 
NCL CORP LTDPVTPL NCL CORP LTD 03-01-20306.25 %44,687 
NCL CORPORATION LTDPVTPL NCL CORPORATION LTD 01-15-20315.875 %162,383 
NCR CORP NEWPVTPL NCR CORP NEW DUE 10-01-2028/08-20-2020 BEO5 %195,473 
NEPTUNE BIDCO US INCPVTPL NEPTUNE BIDCO US INC 05-15-203110.375 %85,103 
NISSAN MOTOR ACCEPTANCE CORPPVTPL NISSAN MOTOR ACCEPTANCE CORP DUE 09-15-2028 BEO2.45 %33,293 
NISSAN MTR ACCEP CO LLCPVTPL NISSAN MTR ACCEP CO LLC 09-29-20285.625 %140,410 
NISSAN MTR ACCEP CO LLCPVTPL NISSAN MTR ACCEP CO LLC 09-30-20306.125 %262,037 
NISSAN MTR LTDPVTPL NISSAN MTR LTD DUE 09-17-2030 BEO4.81 %289,451 
NOBLE FIN II LLCPVTPL NOBLE FIN II LLC 04-15-20308 %47,791 
Northwoods Capital LtdPVTPL NORTHWOODS CAPITAL LTD SER 21-25A CL AR FLTG 07-20-2034499,640 
NORTONLIFELOCK INCPVTPL NORTONLIFELOCK INC DUE 09-30-2027 BEO6.75 %360,277 
NORTONLIFELOCK INCPVTPL NORTONLIFELOCK INC DUE 09-30-2030 BEO7.125 %23,751 
NRG ENERGY INCPVTPL NRG ENERGY INC DUE 02-15-2029/12-02-2020 BEO3.375 %25,830 
NRG ENERGY INCPVTPL NRG ENERGY INC 01-15-20366 %383,006 
NRG ENERGY INCPVTPL NRG ENERGY INC 11-01-20346.25 %309,097 
NRG ENERGY INCPVTPL NRG ENERGY INC 03-15-20337 %278,911 
ONTARIO GAMING GTA LTD PARTNERSHIP/OTGPVTPL ONTARIO GAMING GTA LTD PARTNERSHIP/OTG 08-01-20308 %305,318 
OPAL BIDCO SASPVTPL OPAL BIDCO SAS 03-31-20326.5 %325,702 
OPEN TEXT CORPPVTPL OPEN TEXT CORP 01/12/2029 DUE 12-01-2029/12-01-2025 BEO3.875 %312,220 
OPEN TEXT CORPPVTPL OPEN TEXT CORP DUE 02-15-2028 BEO3.875 %224,719 
OPEN TEXT INCPVTPL OPEN TEXT INC 02-15-20304.125 %183,518 
OREGON TOOL LUX LPPVTPL OREGON TOOL LUX LP 10-15-20297.875 %51,831 
ORGANON CO/ORGANON FOREIGN DEBT CPVTPL ORGANON CO/ORGANON FOREIGN DEBT C 05-15-20346.75 %294,130 
ORGANON FIN 1 LLCPVTPL ORGANON FIN 1 LLC DUE 04-30-2028 BEO4.125 %194,887 
OUTFRONT MEDIA CAP LLCPVTPL OUTFRONT MEDIA CAP LLC 01-15-20294.25 %118,888 
OWENS & MINOR INC NEWPVTPL OWENS & MINOR INC NEW SR NT 03-31-20294.5 %99,730 
OWENS & MINOR INC NEWPVTPL OWENS & MINOR INC NEW SR NT 04-01-20306.625 %134,962 
OZLM XXIV LTD / OZLM XXIV LLCPVTPL OZLM XXIV LTD / OZLM XXIV LLC 20/07/2032 VAR RT DUE 07-20-2032 BEO32,683 
PANTHER ESCROW ISSUER LLC/PANTHER CO-IPVTPL PANTHER ESCROW ISSUER LLC/PANTHER CO-I 06-01-20317.125 %103,625 
PARK INTER HLDGS LLC/PK DOMESTIC PPTYPVTPL PARK INTER HLDGS LLC/PK DOMESTIC PPTY DUE 10-01-2028 BEO5.875 %91,074 
PENN NATIONAL GA INCPVTPL PENN NATIONAL GA INC DUE 07-01-2029 BEO4.125 %284,342 
PENN NATL GAMING INCPVTPL PENN NATL GAMING INC SR NT DUE 01-15-2027 BEO5.625 %68,905 
PENNYMAC FINL SVCS INCPVTPL PENNYMAC FINL SVCS INC 12-15-20297.875 %112,789 
PENNYMAC FINL SVCS INC NEWPVTPL PENNYMAC FINL SVCS INC NEW 02-15-20336.875 %89,780 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
PENNYMAC FINL SVCS INC NEWPVTPL PENNYMAC FINL SVCS INC NEW SR NT 02-15-20294.25 %213,211 
PETSMART LLC/PETSMART FIN CORPPVTPL PETSMART LLC/PETSMART FIN CORP 09-15-203310 %334,623 
PETSMART LLC/PETSMART FIN CORPPVTPL PETSMART LLC/PETSMART FIN CORP 09-15-20327.5 %329,730 
PHINIA INCPVTPL PHINIA INC 04-15-20296.75 %101,475 
PLAYTIKA HLDG CORPPVTPL PLAYTIKA HLDG CORP DUE 03-15-2029/03-11-2021 BEO4.25 %799,912 
POST HLDGS INCPVTPL POST HLDGS INC 10-15-20346.25 %130,722 
Ppm Clo 3 LtdPVTPL PPM CLO 3 LTD SR 19-3A CL A1R2 FLTG 07-17-2034599,641 
Ppm Clo LtdPVTPL PPM CLO LTD SR 21-5A CL AR FLTG RT10-18-2034600,073 
PREMIER ENTMT SUB LLC/PREMIER ENTMT FIPVTPL PREMIER ENTMT SUB LLC/PREMIER ENTMT FI SR NT 09-01-20295.625 %173,468 
PREMIER ENTMT SUB LLC/PREMIER ENTMT FIPVTPL PREMIER ENTMT SUB LLC/PREMIER ENTMT FI SR NT 09-01-20315.875 %246,450 
PRIME HEALTHCARE SVCS INCPVTPL PRIME HEALTHCARE SVCS INC 09-01-20299.375 %656,252 
PRIMO WTR HLDGS INC/TRITPVTPL PRIMO WTR HLDGS INC/TRIT 04-01-20296.25 %203,981 
PROTECTIVE LIFE GFPVTPL PROTECTIVE LIFE GF FLTG 07-22-2026200,301 
QUICKEN LNS LLC/QUICKEN LNS CO-ISSUER INPVTPL QUICKEN LNS LLC/QUICKEN LNS CO-ISSUER IN 03-01-20293.625 %19,317 
RAVEN ACQUISITION HLDGS LLCPVTPL RAVEN ACQUISITION HLDGS LLC 11-15-20316.875 %331,773 
Regatta Xvi Funding LtdPVTPL REGATTA XVI FUNDING LTD SR 19-2A CL A1R FLTG RT 01-15-2033346,101 
Regatta Xvi Funding LtdPVTPL REGATTA XVI FUNDING LTD SR 19-2A CL A1R FLTG RT 01-15-2033432,626 
RFNA LPPVTPL RFNA LP 02-15-20307.875 %215,614 
RHP HOTEL PPTYS LP & RHP FIN CORPPVTPL RHP HOTEL PPTYS LP & RHP FIN CORP 07-15-20287.25 %84,560 
ROBLOX CORPPVTPL ROBLOX CORP DUE 05-01-2030/10-29-2021 BEO3.875 %326,956 
ROCKCLIFF ENERGY II LLCPVTPL ROCKCLIFF ENERGY II LLC SR NT 144A DUE 10-15-2029/10-15-2025 BEO5.5 %266,346 
ROCKET COS INCPVTPL ROCKET COS INC 08-01-20296.5 %123,767 
ROCKET MTG LLC/ROCKET MTGPVTPL ROCKET MTG LLC/ROCKET MTG 10-15-20334 %225,770 
ROCKET MTG LLC/ROCKET MTG CO-ISSUER INCPVTPL ROCKET MTG LLC/ROCKET MTG CO-ISSUER INC DUE 10-15-2026 BEO2.875 %177,374 
ROCKIES EXPRESS PIPELINE LLCPVTPL ROCKIES EXPRESS PIPELINE LLC DUE 04-15-2040/03-22-20106.875 %253,260 
ROCKIES EXPRESS PIPELINE LLC FIXEDPVTPL ROCKIES EXPRESS PIPELINE LLC FIXED 07-15-2029 BEO4.95 %236,491 
ROCKIES EXPRESS PIPELINE LLCPVTPL ROCKIES EXPRESS PIPELINE LLC SR NT144A DUE 07-15-2038/06-27-2008 BEO7.5 %108,807 
ROYAL CARIBBEAN CRUISES LTDPVTPL ROYAL CARIBBEAN CRUISES LTD DUE 04-01-2028 BEO5.5 %129,314 
SABRE FINANCIAL BORROWERPVTPL SABRE FINANCIAL BORROWER 06-15-202911.125 %312,108 
SABRE GLBL INCPVTPL SABRE GLBL INC 03-15-203010.75 %17,246 
SABRE GLBL INCPVTPL SABRE GLBL INC 11-15-202910.75 %9,348 
SABRE GLBL INCPVTPL SABRE GLBL INC 07-15-203011.125 %363,962 
SCIENTIFIC GAMES INTL INCPVTPL SCIENTIFIC GAMES INTL INC DUE 11-15-20297.25 %83,192 
SCIH SALT HLDGS INCPVTPL SCIH SALT HLDGS INC 05-01-20284.875 %316,058 
SEAGATE DATA STORAGE TECH PTE LTDPVTPL SEAGATE DATA STORAGE TECH PTE LTD 06-01-20294.091 %22,540 
SEAGATE DATA STORAGE TECH PTE LTDPVTPL SEAGATE DATA STORAGE TECH PTE LTD 01-15-20314.125 %151,050 
SEAGATE DATA STORAGE TECH PTE LTDPVTPL SEAGATE DATA STORAGE TECH PTE LTD 12-01-20345.75 %329,909 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
SEAGATE DATA STORAGE TECH PTE LTDPVTPL SEAGATE DATA STORAGE TECH PTE LTD 12-15-20298.25 %137,857 
SEAGATE DATA STORAGE TECHNOLOGY PTE LTDPVTPL SEAGATE DATA STORAGE TECHNOLOGY PTE LTD 12-01-20329.625 %186,906 
SELECT MEDICAL CORPPVTPL SELECT MEDICAL CORP 12-01-20326.25 %196,528 
SENSATA TECHNOLOGIES INCPVTPL SENSATA TECHNOLOGIES INC DUE 02-15-20304.375 %58,602 
SHIFT4 PMTS LLC / FINPVTPL SHIFT4 PMTS LLC / FIN 08-15-20326.75 %167,255 
SIRIUS XM HOLDINGS INCPVTPL SIRIUS XM HOLDINGS INC DUE 08-01-20275 %84,205 
SIRIUS XM RADIO INCPVTPL SIRIUS XM RADIO INC DUE 09-01-2026 BEO3.125 %642,293 
SIRIUS XM RADIO INCPVTPL SIRIUS XM RADIO INC DUE 09-01-2031 BEO3.875 %475,913 
SIRIUS XM RADIO INCPVTPL SIRIUS XM RADIO INC DUE 07-15-2028 BEO4 %61,592 
SM ENERGY COPVTPL SM ENERGY CO 08-01-20327 %28,509 
SMB PRIVATE EDUACATION LN TR 2023-C NTPVTPL SMB PRIVATE EDUACATION LN TR 2023-C NT CL A-1A 11-15-20525.67 %158,901 
SMB PRIVATE EDUCATION LOAN TRUSTPVTPL SMB PRIVATE EDUCATION LOAN TRUST SER 24-D CL A1B FLTG 07-05-2053408,956 
SNAP INCPVTPL SNAP INC 03-01-20336.875 %203,104 
SNAP INCPVTPL SNAP INC 03-15-20346.875 %349,050 
SPECIALTY BUILDING PRODUPVTPL SPECIALTY BUILDING PRODU 10-15-20297.75 %77,079 
SS&C TECHNOLOGIES INCPVTPL SS&C TECHNOLOGIES INC 144A 03-28-20195.5 %113,099 
STANDARD BUILDINGS SOLUTIONS INC.PVTPL STANDARD BUILDINGS SOLUTIONS INC. 08-01-20336.25 %35,754 
STANDARD INDS INC DELPVTPL STANDARD INDS INC DEL DUE 01-15-2031 BEO3.375 %24,755 
Stellantis Finl Underwritten EnhancedPVTPL STELLANTIS FINL UNDERWRITTEN ENHANCED SR 25-AA CL A2 07-20-20274.63 %408,755 
SUBURBAN PROPANE PARTNERSPVTPL SUBURBAN PROPANE PARTNERS 12-15-20356.5 %136,048 
SUMMIT MIDSTEAM HLDGSPVTPL SUMMIT MIDSTEAM HLDGS 10-31-20298.625 %324,543 
SUNOCO LPPVTPL SUNOCO LP 05-01-20297 %74,039 
SUNOCO LP NTPVTPL SUNOCO LP NT 09-15-20287 %252,721 
SUPER MICRO COMPUTER INCPVTPL SUPER MICRO COMPUTER INC 06-15-20300 %279,876 
SURGERY CTR HLDGS INCPVTPL SURGERY CTR HLDGS INC 04-15-20327.25 %422,287 
SYNERGY INFRASTRUCTURE HLDGS LLCPVTPL SYNERGY INFRASTRUCTURE HLDGS LLC 12-01-20307.875 %93,305 
TALEN ENERGY SUPPLY LLCPVTPL TALEN ENERGY SUPPLY LLC 06-01-20308.625 %113,287 
TALLGRASS ENERGY PARTNERS LP/TALLGRASSPVTPL TALLGRASS ENERGY PARTNERS LP/TALLGRASS 12-31-20306 %61,493 
TALLGRASS ENERGY PARTNERS LP/TALLGRASSPVTPL TALLGRASS ENERGY PARTNERS LP/TALLGRASS DUE 09-01-2031 BEO6 %315,535 
TAYLOR MORRISON CMNTYS INCPVTPL TAYLOR MORRISON CMNTYS INC DUE 11-15-20325.75 %24,693 
TEAM HEALTH HOLDINGS INCPVTPL TEAM HEALTH HOLDINGS INC 06-30-20288.375 %184,193 
TELEFLEX INCPVTPL TELEFLEX INC SR NT 144A DUE 06-01-2028/05-27-2020 BEO4.25 %288,068 
TENET HEALTHCARE CORPPVTPL TENET HEALTHCARE CORP 11-15-20325.5 %145,967 
TENNECO INCPVTPL TENNECO INC 11-17-20288 %81,259 
TerawulfPVTPL TERAWULF INC 05-01-20320 %309,670 
Thayer Pk Clo LtdPVTPL THAYER PK CLO LTD SER 17-1A CL A1RR FLTG 04-20-2034599,224 
THOR INDUSTRIESPVTPL THOR INDUSTRIES 10-15-20294 %371,868 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
TIBCO SOFTWARE INCPVTPL TIBCO SOFTWARE INC 03-31-20296.5 %403,209 
Towd Pt Mtg TrPVTPL TOWD PT MTG TR FLTG RT SER 19-HY2 CL A1 12-25-2048 BEO21,970 
Towd Pt Mtg TrPVTPL TOWD PT MTG TR SER 2019-HY3 CL A1A FLTG 12-25-204881,219 
Towd Pt Mtg TrPVTPL TOWD PT MTG TR VAR RT SER 19-1 CL A1 03-25-2058217,070 
Tpg Real Estate FinancePVTPL TPG REAL ESTATE FINANCE SER 22-FL5 CL A FLTG 02-15-2039236,902 
TRANSDIGM INCPVTPL TRANSDIGM INC 03-01-20296.375 %99,002 
TRANSDIGM INCPVTPL TRANSDIGM INC 05-31-20336.375 %139,549 
TRANSDIGM INCPVTPL TRANSDIGM INC 08-15-20286.75 %30,528 
TRANSMONTAIGNE PARTNERSPVTPL TRANSMONTAIGNE PARTNERS 06-15-20308.5 %105,980 
TRANSOCEAN INCPVTPL TRANSOCEAN INC 05-15-20298.25 %300,380 
TRANSOCEAN INCPVTPL TRANSOCEAN INC 05-15-20318.5 %65,375 
TRANSOCEAN INCPVTPL TRANSOCEAN INC 02-15-20308.75 %148,004 
TRAVEL + LEISURE COPVTPL TRAVEL + LEISURE CO 09-01-20336.125 %101,504 
TRIDENT TPI HLDGS INCPVTPL TRIDENT TPI HLDGS INC 12-31-202812.75 %58,400 
Trinitas Clo LtdPVTPL TRINITAS CLO LTD SR 21-17A CL AR FLTG10-20-2034499,892 
TRINSEO LUXCO FIN SPV S A R L & TRINSEO NA FIN SPVPVTPL TRINSEO LUXCO FIN SPV S A R L & TRINSEO NA FIN SPV PIK 05-03-20297.625 %27,946 
UBS GROUP AGPVTPL UBS GROUP AG 01-12-20275.711 %500,190 
UKG INCPVTPL UKG INC 02-01-20316.875 %342,217 
UNDER ARMOUR INCPVTPL UNDER ARMOUR INC 07-15-20307.25 %72,070 
UNITED WHOLESALE MTGE LL CORPPVTPL UNITED WHOLESALE MTGE LL CORP 04-15-20295.5 %122,127 
UNITED WHSL MTG LLCPVTPL UNITED WHSL MTG LLC 06-15-20275.75 %67,180 
UNITI GROUP INCPVTPL UNITI GROUP INC DUE 02-15-2029 BEO6.5 %92,190 
UNIVISION COMMUNICATIONS INCPVTPL UNIVISION COMMUNICATIONS INC 08-15-20288 %127,382 
US FOODS INCPVTPL US FOODS INC DUE 09-13-20286.875 %51,711 
UWM HLDGS LLCPVTPL UWM HLDGS LLC 03-15-20316.25 %179,713 
UWM HOLDINGS LLCPVTPL UWM HOLDINGS LLC 02-01-20306.625 %107,338 
VALARIS LTDPVTPL VALARIS LTD 04-30-20308.375 %44,736 
VENTURE GLOBAL CALCASIEU PASS LLCPVTPL VENTURE GLOBAL CALCASIEU PASS LLC DUE 08-15-20293.875 %550,199 
VENTURE GLOBAL CALCASIEU PASS LLCPVTPL VENTURE GLOBAL CALCASIEU PASS LLC DUE 11-01-2033 BEO3.875 %302,666 
VENTURE GLOBAL CALCASIEU PASS LLCPVTPL VENTURE GLOBAL CALCASIEU PASS LLC 01-15-20306.25 %233,906 
VENTURE GLOBAL LNG INCPVTPL VENTURE GLOBAL LNG INC 02-01-20299.5 %866,550 
VENTURE GLOBAL LNG INCPVTPL VENTURE GLOBAL LNG INC 02-01-20329.875 %299,591 
Venture Global Plaquemines Lng LlcPVTPL VENTURE GLOBAL PLAQUEMINES LNG LLC 12-15-20306.125 %32,598 
Venture Global Plaquemines Lng LlcPVTPL VENTURE GLOBAL PLAQUEMINES LNG LLC 01-15-20346.5 %22,533 
Venture Global Plaquemines Lng LlcPVTPL VENTURE GLOBAL PLAQUEMINES LNG LLC 06-15-20346.5 %93,036 
Venture Global Plaquemines Lng LlcPVTPL VENTURE GLOBAL PLAQUEMINES LNG LLC 01-15-20366.75 %119,842 
Venture Global Plaquemines Lng LlcPVTPL VENTURE GLOBAL PLAQUEMINES LNG LLC 05-01-20357.75 %40,436 
Venture Xxix Clo Ltd/Venture Xxix CloPVTPL VENTURE XXIX CLO LTD/VENTURE XXIX CLO VAR RT DUE 09-07-2030 BEO14,651 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Verdelite Static Clo LtdPVTPL VERDELITE STATIC CLO LTD SER 24-1A CL A FLTG 07-20-2032347,692 
VERTICAL U S NEWCO INCPVTPL VERTICAL U S NEWCO INC DUE 07-15-20275.25 %300,071 
Vibrant Clo LtdPVTPL VIBRANT CLO LTD SER 19-11A CL A1R1 FLTG 07-20-2032104,753 
Vibrant Clo LtdPVTPL VIBRANT CLO LTD SER 21-12A CL A1A2FLTG 04-20-2034599,994 
VIKING CRUISES LTDPVTPL VIKING CRUISES LTD 02-15-20297 %312,780 
VIKING CRUISES LTDPVTPL VIKING CRUISES LTD 07-15-20319.125 %161,698 
VISTRA OPERATIONS CO LLCPVTPL VISTRA OPERATIONS CO LLC DUE 05-01-2029 BEO4.375 %356,439 
VISTRA OPERATIONS CO LLCPVTPL VISTRA OPERATIONS CO LLC 07-31-20275 %302,695 
VISTRA OPERATIONS CO LLCPVTPL VISTRA OPERATIONS CO LLC DUE 04-15-20326.875 %313,919 
VISTRA OPERATIONS CO LLCPVTPL VISTRA OPERATIONS CO LLC DUE10-15-2033 BEO6.95 %755,773 
VISTRA OPERATIONS CO LLCPVTPL VISTRA OPERATIONS CO LLC SR NT 10-15-20317.75 %615,382 
VITAL ENERGY INC DELPVTPL VITAL ENERGY INC DEL 04-15-20327.875 %147,793 
VOLTAGRID LLCPVTPL VOLTAGRID LLC 11-01-20307.375 %212,053 
W R GRACE HLDGS LLCPVTPL W R GRACE HLDGS LLC 06-15-20274.875 %59,829 
WAYFAIR INCPVTPL WAYFAIR INC 11-15-20326.75 %172,750 
WAYFAIR LLCPVTPL WAYFAIR LLC 10-31-20297.25 %22,965 
WAYFAIR LLCPVTPL WAYFAIR LLC 09-15-20307.75 %322,832 
WBI OPERATING LLCPVTPL WBI OPERATING LLC 10-15-20306.25 %100,603 
WBI OPERATING LLCPVTPL WBI OPERATING LLC 10-15-20336.5 %191,269 
WESCO DISTRIBUTION INCPVTPL WESCO DISTRIBUTION INC 03-15-20296.375 %49,568 
WEX INCPVTPL WEX INC 03-15-20336.5 %337,809 
WILDFIRE INTER HLDGS LLCPVTPL WILDFIRE INTER HLDGS LLC 10-15-20297.5 %102,928 
WILLIAM CARTERPVTPL WILLIAM CARTER 02-15-20317.375 %72,374 
WILLIAMS SCOTSMAN INCPVTPL WILLIAMS SCOTSMAN INC 04-15-20306.625 %20,673 
WILLIAMS SCOTSMAN INCPVTPL WILLIAMS SCOTSMAN INC 06-15-20296.625 %49,575 
Wind Riv Clo Ltd/Wind RivPVTPL WIND RIV 2021-2 CLO LTD/WIND RIV 2021- SR 21-2A CL A1R VAR RT 07-20-2034499,780 
WINDSTREAM SVCS LLC/ESCROW FIN CORPPVTPL WINDSTREAM SVCS LLC/ESCROW FIN CORP 10-01-20318.25 %265,592 
X AI LLC/X AI CO ISSUER CORPPVTPL X AI LLC/X AI CO ISSUER CORP 06-30-203012.5 %78,770 
XPO INCPVTPL XPO INC 06-01-20286.25 %98,899 
ZAYO GROUP HLDGS INCPVTPL ZAYO GROUP HLDGS INC PIK 09-09-203013.75 %67,152 
ZF NORTH AMERICA CAPITAL INCPVTPL ZF NORTH AMERICA CAPITAL INC 03-24-20317.5 %213,246 
MACQUARIE AIRFINANCE HLDGS LTDPVTPLMACQUARIE AIRFINANCE HLDGS LTD 03-26-20316.5 %175,564 
RADIATE HOLDCO LLCRADIATE HOLDCO LLC DELAYED TL 06-26-20291,535 
RADIATE HOLDCO LLCRADIATE HOLDCO LLC FIRST OUT TERM LOAN SENIOR SECURED 09-25-202930,238 
RADIATE HOLDCO LLCRADIATE HOLDCO LLC TL 06-26-20291,535 
Realkredit DanmarkREALKREDIT DANMARK CVD BDS 01/10/2053 DKK1.5 %53,996 
Realkredit DanmarkREALKREDIT DANMARK SNR SEC 01/10/2053 DKK1.5 %— 
Realkredit DanmarkREALKREDIT DANMARK CVD BDS 01/10/53 DKK0.012 %14,937 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Restoration Hardware IncRESTORATION HARDWARE INC TERM LOAN B 10-20-2028176,750 
Rhp Hotel Pptys Lp & Rhp CorpRHP HOTEL PPTYS LP & RHP FIN CORP 10-11-20274.75 %19,921 
Rlj Lodging TrRLJ LODGING TR L P SR SECD NT 144A 07-01-20263.75 %118,353 
Rlj Lodging TrRLJ LODGING TR L P SR SECD NT 144A 09-15-20294 %196,234 
RBCROYAL BK CDA MED TERM NTS BOOK ENTRY 03/08/2026 VAR RT DUE 08-03-2026200,270 
Royal Caribbean CruisesROYAL CARIBBEAN CRUISES LTD SR NT 144A 07-01-20264.25 %276,972 
Sabra Health CareSABRA HEALTH CARE LP DUE 12-01-20313.2 %284,892 
Sabre Glbl IncSABRE GLBL INC 08-01-20265.75 %105,578 
Sabre Glbl IncSABRE GLBL INC NEW EXCHANGED TL NOVEMBER2024 SENIOR SECURED TERM LOAN 11-15-202942,042 
Sabre Glbl IncSABRE GLBL INC TERM LOAN B SENIOR SECURED TERM LOAN 06-30-2028 BEO145,199 
Sabre Glbl IncSABRE GLBL INC TERM LOAN B2 SENIOR SECURED TERM LOAN 11-15-202949,523 
Sabre Glbl IncSABRE GLBL INC. SENIOR SECURED TERM LOAN B 06-30-2028 BEO77,798 
Santander Uk Group FltgSANTANDER UK GROUP FLTG RT DUE 09-11-20304.858 %253,114 
Sba CommunicationsSBA COMMUNICATIONS DUE 02-01-20293.125 %201,857 
Sba CommunicationsSBA COMMUNICATIONS CORP NEW SR NT 02-15-20273.875 %89,325 
SensataSENSATA DUE 02-15-20313.75 %48,801 
Shea HomesSHEA HOMES LP 02-15-20284.75 %62,449 
SITELSITEL GROUP INITIAL DOLLAR TERM LOAN SENIOR SECURED 08-28-2028142,674 
SIX FLAGS ENTMTSIX FLAGS ENTMT CORP NEW 05-15-20317.25 %221,649 
SKOPIMA CONSILIO PARENT LLCSKOPIMA CONSILIO PARENT LLC TERM LN SENIOR SECURED 05-12-2028366,901 
Sm Energy CoSM ENERGY CO DUE 07-15-2028 REG6.5 %103,103 
Sm Energy CoSM ENERGY CO DUE 09-15-20266.75 %78,121 
Sound Pt Clo Ix LtdSOUND PT CLO IX LTD / SOUND PT CLO 15-2A AR 07-20-20320 %239,967 
Southern Calif Edison CoSOUTHERN CALIF EDISON CO 03-01-20265.35 %300,535 
Springleaf FinSPRINGLEAF FIN DUE 03-15-20267.125 %22,167 
Starwood Ppty Tr IncSTARWOOD PPTY TR INC SR NT 144A 01-15-20274.375 %397,504 
Std Inds IncSTD INDS INC DEL DUE 07-15-20304.375 %88,808 
STEELE CREEKSTEELE CREEK CLO 2018-1 LTD / SR SECD NTCL A FLTG 144A 04-15-20314.9438 %30,701 
STELLANTIS FINSTELLANTIS FINL SVC US CORP SR NT FLTG 144A 09-15-20285.38126 %201,342 
STRATEGY INCSTRATEGY INC CNV SNR NTS 12-01-20290 %231,664 
Stryker CorpSTRYKER CORP 09-11-20294.637 %301,814 
SUMITOMO MITSUI FINL GROUP INCSUMITOMO MITSUI FINL GROUP INC 01-13-20265.464 %400,175 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP SR NT 144A 10-01-20294.5 %646,990 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP SR NT 144A 05-01-20304.625 %337,103 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP SR NT 144A 07-15-20275.875 %303,758 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP SR NT 144A 08-15-20326.625 %135,873 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP/SUNOCO FIN CORP DUE 05-15-20294.5 %41,246 
Sunoco Lp/Sunoco Fin CorpSUNOCO LP/SUNOCO FIN CORP 03-15-20285.875 %84,205 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC SR NT CONV 03-01-20293.5 %94,202 
SynchronySYNCHRONY CARD ISSUANCE TR SER 23-A2 CL A 10-15-20295.74 %405,761 
SYNOPSYS INCSYNOPSYS INC 04-01-20274.55 %251,785 
TEAM HEALTH HLDGS INCTEAM HEALTH HLDGS INC 30/6/2028 DUE 06-30-2028/11-03-2025 BEO13.5 %622,833 
TEGNA INCTEGNA INC DUE 03-15-20284.625 %203,903 
TELEFLEX INCTELEFLEX INC 11-15-20274.625 %35,945 
Tenet HealthcareTENET HEALTHCARE DUE 11-15-20316.875 %103,860 
Tenet HealthcareTENET HEALTHCARE FIXED DUE 01-06-20294.25 %17,731 
Tenet HealthcareTENET HEALTHCARE FIXED DUE 10-01-20286.125 %9,041 
Tenneco Inc.TENNECO INC. TERM A LOAN SENIOR SECURED TERM LOAN 11-17-2028106,019 
Tenneco Inc.TENNECO INC. TERM B LOAN (FIRST LIEN) SENIOR SECURED TERM LOAN 11-17-202884,418 
TevaTEVA DUE 10-01-20263.15 %204,607 
TevaTEVA DUE 02-01-20366.15 %37,796 
TEVA PHARMACEUTICAL INDST LTDTEVA PHARMACEUTICAL INDST LTD BDS 10-01-2046 USD20004.1 %129,311 
Time Warner CableTIME WARNER CABLE DUE 07-01-20387.3 %98,725 
Tkc Hldgs IncTKC HLDGS INC SR NT 144A 05-15-202910.5 %163,382 
Tkc Hldgs IncTKC HLDGS INC SR SECD NT 144A 05-15-20286.875 %188,823 
Tkc Hldgs IncTKC HOLDINGS, INC. CLOSING DATE INITIAL TERM LOAN (2024) SR SCRD TL 05-15-2028108,614 
Transdigm IncTRANSDIGM INC 01-15-20294.625 %94,370 
Transdigm IncTRANSDIGM INC 05-01-2029 REG4.875 %231,404 
Tri Pointe Homes IncTRI POINTE HOMES INC DUE 06-01-20275.25 %42,198 
TrinitasTRINITAS EURO CL 1 FRN CLO 07/2039 EUR 'A-R'588,199 
TrinitasTRINITAS EURO CL 1 FRN CLO 07/2039 EUR 'A-R'705,839 
TruistTRUIST INSURANCE HOLDINGS LLC TL SECOND LIEN SR SECURED 03-08-2032109,776 
Twilio IncTWILIO INC 03-15-20293.625 %400,893 
Uniti Group LpUNITI GROUP LP / DUE 04-15-20284.75 %151,203 
Uniti Group LpUNITI GROUP LP / UNITI FIBER HLDGS SR NT144A 01-15-20306 %62,313 
Uwm MtgUWM MTG TR FLTG RT DUE 12-25-20514.61721 %283,879 
Venture GlobalVENTURE GLOBAL DUE 08-15-20314.125 %362,614 
VerifoneVERIFONE SYSTEMS INC 2025-1 TERM LOAN SENIOR SECURED 08-18-202811,489 
VocVOC ESCROW LTD DUE 02-15-20285 %115,985 
VolkswagonVOLKSWAGEN GROUP DUE 03-27-20285.05 %710,835 
WARNERMEDIAWARNERMEDIA HLDGS 03-15-20273.755 %154,950 
WARNERMEDIAWARNERMEDIA HLDGS 03-15-20324.279 %165,908 
WARNERMEDIAWARNERMEDIA HLDGS 03-15-20425.05 %300,050 
WARNERMEDIAWARNERMEDIA HLDGS INC 03-15-20525.141 %40,849 
Wells Fargo & CoWELLS FARGO & COMPANY 04-23-20294.97 %203,787 
Wells Fargo & CoWELLS FARGO & COMPANY 04-22-20285.707 %408,342 
Wells Fargo & CoWELLS FARGO COML MTG TR 2025-AGLN COML MTG PASSTHRU CTF CL A 5.30209 07-15-2037800,996 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Wells Fargo & CoWELLS FARGO HOME FLTG RT DUE 10-25-20344.78821 %14,306 
WESTERN MIDSTREAM OPERATING LPWESTERN MIDSTREAM OPERATING LP 02-01-20505.25 %190,534 
Westn Gas PartnersWESTN GAS PARTNERS 03-01-20485.3 %98,683 
WIDEOPENWEST FINANCE LLCWIDEOPENWEST FINANCE LLC SUPER SENIOR SECOND OUT TL SR SECD 12-11-2869,189 
WyndhamWYNDHAM DUE 03-01-20304.625 %55,590 
WyndhamWYNDHAM DUE 07-31-20266.625 %357,573 
X CORPX CORP RANCHE B-3 TERM LOAN (FIRST LIEN)TERM LOAN SENIOR SECURED 10-26-2029234,988 
X CORPX.AI CORP. TL 06-28-2030421,433 
Zayo Group Holdings IncZAYO GROUP HLDGS INC INITIAL DOLLAR TERMLOAN SENIOR SECURED 03-11-203097,661 
Corporate Debt Instruments169,674,050 
Derivative Investments
BarclaysCCP CASH COLL RECEIVABLE FROM BARCLAYS6,000 
BarclaysCCP DUE RECEIVABLE FROM BARCLAYS CAPTIAL INC36,000 
BarclaysCCP SWAP DUE FROM USD BARCUS31XXX 31 DEC 2050192,000 
BarclaysCME_OIS BARCUS31 06/18/2035 USD P / R 1DSOFR SWU02G0Y63.25 %85,404 
BarclaysCME_OIS BARCUS31 12/21/2032 USD P / R 1DSOFR SWU01JHW72 %193,074 
BarclaysICE_CDS BARCUS31 06/20/2026 SELL GOLDMAN SACHS GROUP IN SWPC0NOP6175 
BarclaysLCH_IRS BARCUS31 09/04/2030 EUR P / R 6MEURIB SWU02GS832.4 %1,010 
BarclaysLCH_IRS BARCUS31 23/04/2035 EUR P / R 6MEURIB SWU02HBL02.53 %347 
BarclaysLCH_IRS BARCUS31 29/08/2034 EUR P / R 6MEURIB SWU02A9I52.58 %2,415 
BarclaysLCH_OIS BARCUS31 08/19/2034 USD P / R 1DSOFR SWU028ZY63.586 %1,176 
BarclaysLCH_OIS BARCUS31 08/21/2034 USD P / R 1DSOFR SWU02A1C63.558 %1,389 
BarclaysLCH_OIS BARCUS31 08/28/2034 USD P / R 1DSOFR SWU02A7Z93.555 %1,406 
BarclaysLCH_OIS BARCUS31 08/28/2034 USD P / R 1DSOFR SWU02A8053.565 %133 
BarclaysLCH_OIS BARCUS31 09/04/2034 USD P / R 1DSOFR SWU02ABR23.525 %1,635 
BarclaysLCH_OIS BARCUS31 09/05/2034 USD P / R 1DSOFR SWU02ACW03.41 %2,525 
BarclaysLCH_OIS BARCUS31 09/16/2034 USD P / R 1DSOFR SWU02ANQ13.277 %3,545 
BarclaysLCH_OIS BARCUS31 17/09/2030 GBP P 1DSONIA / R SWU02K0M33.75 %14,902 
BarclaysLCH_OIS BARCUS31 18/03/2028 JPY P / R 1DTONAR SWU02FLV11 %21,151 
BarclaysOTC DER CASH COLL REC FROM BARCLAYS258,000 
CitibankOTC DERIVATIVE CASH COLL RECEIVABLE FROMCITIBANK194 
Citigroup Global MarketsCDX SBNYUS33 08/17/2061 SELL CMBX.NA.AAA.12 SWPC0HTX71,219 
Deutsche Bank AGPUT SWO USD DEUTGB2L P / R 1DSOFR 317UAHOA6 09/18/20263.757 %9,799 
Goldman Sachs Bank UsaCALL SWO EUR GSCMUS33 P 6MEURIB / R 317U7XVA7 07/01/20272.35 %68,633 
Goldman Sachs Bank UsaCCP DUE FROM GOLDMAN SACHS99,000 
Goldman Sachs Bank UsaCCP OTC DERIVATIVE CASH COLLATERAL RECEIVABLE FROM GOLDMA37,000 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Goldman Sachs Bank UsaCME_OIS GOLDUS33 06/20/2054 USD P / R 1DSOFR SWU0206Z23.5 %107,198 
Goldman Sachs Bank UsaLCH_IRS GOLDUS33 02/09/2027 EUR P / R 6MEURIB SWU02F4P32.112 %3,303 
Goldman Sachs Bank UsaLCH_IRS GOLDUS33 04/11/2052 EUR P / R 6MEURIB SWU01MK060.195 %362,027 
Goldman Sachs Bank UsaLCH_IRS GOLDUS33 08/11/2052 EUR P / R 6MEURIB SWU01MMU80.197 %986,898 
Goldman Sachs Bank UsaLCH_IRS GOLDUS33 15/08/2032 EUR P 6MEURIB / R SWU01QDX32.879 %27,447 
Goldman Sachs Bank UsaLCH_IRS GOLDUS33 18/03/2056 EUR P / R 6MEURIB SWU02JZS53 %67,883 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 02/13/2054 USD P / R 1DSOFR SWU01OR472.865 %579,808 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 03/19/2032 USD P / R 1DSOFR SWU02DCC83.25 %133,772 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 03/19/2055 USD P / R 1DSOFR SWU02DCP93.25 %214,542 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 05/31/2030 USD P / R 1DSOFR SWU02MJL13.29 %19,448 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 05/31/2030 USD P / R 1DSOFR SWU02MSY33.375 %6,992 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 06/18/2034 USD P / R 1DSOFR SWU02G0M23.25 %21,217 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 11/15/2053 USD P / R 1DSOFR SWU01YS282.285 %297,068 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 11/15/2053 USD P / R 1DSOFR SWU02MJQ04.01 %14,495 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 11/15/2053 USD P / R 1DSOFR SWU02MT144.075 %9,328 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 11/21/2053 USD P / R 1DSOFR SWU01YS442.236 %222,114 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 17/09/2030 GBP P 1DSONIA / R SWU02K0M33.75 %35,875 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 18/03/2031 GBP P 1DSONIA / R SWU02J2I33.75 %15,036 
Goldman Sachs Bank UsaLCH_OIS GOLDUS33 20/09/2027 JPY P / R 1DTONAR SWU01E2S30.3 %75 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 02/05/2026 USD P CPI / R SWU0TY9N32.82 %519 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 02/13/2026 USD P CPI / R SWU0ACV142.842 %809 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 02/21/2026 USD P CPI / R SWU0JL9Y83.043 %321 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 02/24/2031 USD P / R CPI SWU0PS0172.311 %120,843 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 02/26/2026 USD P / R CPI SWU0EN6552.314 %196,728 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 03/05/2026 USD P / R CPI SWU0EN7052.419 %140,309 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 04/23/2026 USD P CPI / R SWU0JT9E53.323 %3,137 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 05/13/2026 USD P / R CPI SWU0EQ0882.768 %85,615 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 05/14/2026 USD P / R CPI SWU0JL8522.813 %46,253 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 05/25/2026 USD P / R CPI SWU0ZN0092.703 %65,292 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 06/04/2026 USD P CPI / R SWU0K43463.3 %4,246 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 08/01/2026 USD P CPI / R SWU096A793.435 %9,297 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 08/26/2028 USD P / R CPI SWU0EQ6902.573 %30,858 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 08/27/2026 USD P CPI / R SWU06K9E83.434 %11,023 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 09/10/2028 USD P / R CPI SWU0EQ7812.645 %13,732 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/03/2052 EUR P CPTFE / R SWU0KT1192.58 %11,263 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/03/2052 EUR P CPTFE / R SWU0ZD7122.59 %5,957 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/04/2053 EUR P CPTFE / R SWU0K8A232.7 %32,266 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/05/2027 EUR P / R CPTFE SWU0EA0183 %6,614 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/05/2027 EUR P / R CPTFE SWU04AM493.13 %815 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/05/2037 EUR P CPTFE / R SWU01JA462.488 %1,311 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/05/2052 EUR P CPTFE / R SWU0EA0262.421 %1,449 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/06/2027 EUR P / R CPTFE SWU02LHK71.636 %3,584 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/08/2034 GBP P RPI / R SWU0TX9S43.5 %30,235 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/09/2034 GBP P RPI / R SWU0AP4153.466 %13,481 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/09/2053 EUR P CPTFE / R SWU0GH8542.763 %18,261 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/10/2053 EUR P CPTFE / R SWU0KH0162.682 %15,614 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/10/2053 EUR P CPTFE / R SWU0NL4512.736 %34,693 
Goldman Sachs Bank UsaLCH_RPI GOLDUS33 15/12/2052 EUR P CPTFE / R SWU0XL4192.59 %23,500 
Goldman Sachs Bank UsaPUT SWO EUR GSCMUS33 P / R 6MEURIB 317U7XUA8 07/01/20272.35 %68,633 
GSCCCP DUE RECEIVABLE FROM GSC203,000 
HSBCOTC DERIVATIVE CASH COLL RECEIVABLE FROMHSBC150,000 
JP Morgan Chase BankOTC DERIVATIVE CASH COLLATERAL RECEIVABLE FROM JP MORGAN CHASE BANK NA83,000 
Merrill LynchOTC DERIVATIVE CASH COLL RECEIVABLE FROMMERRILL LYNCH INTL17,550,210 
NomuraPUT SWO USD NGFPUS33 P / R 1DSOFR 317UAI6A4 09/18/20263.757 %51 
Not applicableAustralian dollar79,206 
Not applicableBrazilian real3,560 
Not applicableBritish pound sterling44,422 
Not applicableCanadian dollar3 
Not applicableEuro17,801 
Not applicableHK offshore Chinese Yuan Renminbi5,905 
Not applicableHong Kong dollar6 
Not applicableIndian rupee3,565 
Not applicableJapanese yen20,961 
Not applicableMexican peso46,165 
Not applicableNew Israeli shekel982 
Not applicableNew Taiwan dollar63,294 
Not applicableNew Zealand dollar3,377 
Not applicablePolish zloty26,529 
Not applicableSouth African rand10,432 
Not applicableSouth Korean won7,124 
Not applicableSwiss franc1,362 
Not applicableThai baht3,039 
Not applicableTurkish lira4,244 
Derivative Investments Total23,487,554 
Collective Trust Fund
*BlackrockMFO BLACKROCK INSTL TR CO EMERGING MKTS INDEX UNITIZED ACCT278,943,488 
*BlackrockMFO BLACKROCK INSTL TR CO EQUITY INDEX UNITIZED ACCT4,931,977,457 
*BlackrockMFO BLACKROCK INSTL TR CO MIDCAP EQUITY INDEX UNITIZED ACCT661,663,008 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
*BlackrockMFO BLACKROCK INSTL TR CO MSCI ACWI EX US IMI INDEX UNITIZED ACCT625,723,619 
*BlackrockMFO BLACKROCK INSTL TR CO N A INVT FDS FOR E DEVELOPED REAL ESTATE INDEX UNI77,823,232 
*BlackrockMFO BLACKROCK INSTL TR CO N A MSCI ACWI ESG FOCUS INDEX UNITIZED ACCT126,976,855 
*BlackrockMFO BLACKROCK INSTL TR CO RUSSELL 2000 INDEX UNITIZED ACCT585,104,039 
*BlackrockMFO BLACKROCK INSTL TR CO US DEBT INDEX UNITIZED ACCT290,681,079 
*BlackrockMFO BLACKROCK INSTL TR CO US HIGH YIELD BOND INDEX88,633,801 
*JP MorganMFO CF COMMINGLED PENSION TR FD LARGE CAP GROWT OF JPM CHASE BK N A UNIT CL CF-K951,807,641 
*JP MorganMFO CF COMMINGLED PENSION TR FD LARGE CAP GROWT OF JPM CHASE BK N A UNIT CL CF-K1,093,981,201 
*PIMCOMFO PIMCO COLLECTIVE INVT TOTAL RETURN COLLECTIVE TR CL M342,392,055 
*PIMCOMFO PIMCO SHORT TERM FLOATING NAV II62,875,378 
*State StreetMFO SSGA 2025 FUND (CM8U1)337,870,802 
*State StreetMFO SSGA 2030 FUND (CM5L)646,232,338 
*State StreetMFO SSGA 2035 FUND (CM8V1)842,407,149 
*State StreetMFO SSGA 2040 FUND (CM5M)653,704,057 
*State StreetMFO SSGA 2045 FUND (CM8W1)659,764,681 
*State StreetMFO SSGA 2050 FUND (CMAQ1)599,943,853 
*State StreetMFO SSGA 2055 FUND (CMLE1)427,054,046 
*State StreetMFO SSGA TARGET RETMT INCOME SL SER I332,291,270 
*State StreetMFO STATE STR GBL ADVISORS TR CO TARGET RETIREMENT 2070 SEC LENDING SR FD CL I4,156,177 
*State StreetMFO STATE STREET TARGET RETIREMENT 2060 SECURITIES LENDING SER FUND CLASS I250,254,440 
*State StreetMFO STATE STREET TARGET RETIREMENT 2065 SECURITIES LENDING SERIES FUND CLASS I144,111,062 
*TS&WMFO TS&W COLLECTIVE INVT TR INTL LARGE CAP EQUITY TR CL V402,038,318 
*WellingtonMFO WELLINGTON OPPORTUNISTIC EMERGING MARKETS DEBT (SERIES 1)68,790,809 
*William BlairMFO WILLIAM BLAIR COLLECTIVE INVT TR EMERGING MKTS GROWTH COLL INVT FD CL 6383,045,390 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD1,001,541 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD1,580 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD11,422,023 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD12,399,287 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD13,570 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD2,280,858 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD2,526,735 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD258,280 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD275,117 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD3,318,588 
Morgan Stanley 401(k) Plan
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2025
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD4,216,988 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD4,324,164 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD5,879,762 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD6,075 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD8,183,541 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD8,715,901 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD9,526,164 
*Northern TrustNT COLLECTIVE SHORT TERM INVT FD421,237 
Collective Trust Fund Total15,945,018,656 
Repurchase Agreements
*Bank of New YorkBUY TO OPEN TRIPARTY REPO W/BANK OF N FROM 12-31-2025 TO 01-02-20263.82 %75,000,000 
*BNP ParibasBUY TO OPEN TRIPARTY REPO W/BNP PARIB FROM 12-31-2025 TO 01-02-20263.83 %75,000,000 
*Bank of AmericaBUY TO OPEN TRIPARTY REPO W/BOFA SECU FROM 12-31-2025 TO 01-02-20263.85 %75,000,000 
*Goldman SachsBUY TO OPEN TRIPARTY REPO W/GOLDMAN, FROM 12-31-2025 TO 01-02-20263.84 %90,000,000 
*Mizuho SecuritiesBUY TO OPEN TRIPARTY REPO W/MIZUHO SE FROM 12-31-2025 TO 01-02-20263.84 %97,000,000 
*NatixisBUY TO OPEN TRIPARTY REPO W/NATIXIS C FROM 12-31-2025 TO 01-02-20263.84 %95,000,000 
*TD SecuritiesBUY TO OPEN TRIPARTY REPO W/TD SECURI FROM 12-31-2025 TO 01-02-20263.83 %80,000,000 
Repurchase Agreement Total587,000,000 
Participant-directed investments at fair value25,743,836,325 
Various Participants
Participant Loans (secured by account, rates ranging from 4.25% to 9.5% with maturity dates ranging from 2024 to 2051)
130,838,275 
* Party-in-interest
** Cost information is not required for Participant-directed investments and therefore is not included.
See Report of Independent Registered Public Accounting Firm