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        <name>Venture Global LNG, Inc.</name>
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        <name>Builders FirstSource, Inc.</name>
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        <name>Wrangler Holdco Corp.</name>
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        <name>AmeriTex HoldCo Intermediate LLC</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Cloud Software Group, Inc.</name>
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        <name>TransDigm, Inc.</name>
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        <name>Smyrna Ready Mix Concrete LLC</name>
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        <name>US Foods, Inc.</name>
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        <name>WULF Compute LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Asurion LLC</name>
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        <name>Artera Services LLC</name>
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        <name>Voyager Parent LLC</name>
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        <name>XPLR Infrastructure Operating Partners LP</name>
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        <name>Eldorado Gold Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Viking Baked Goods Acquisition Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinetik Holdings LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sinclair Television Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Car Rental LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bombardier, Inc.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Azorra Finance Ltd.</name>
        <lei>254900MC1HXDAVUUP395</lei>
        <title>Azorra Finance Ltd.</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>UWM Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Avient Corp.</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
        <title>Avient Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allied Universal Holdco LLC</name>
        <lei>98450038B4549046D794</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>WBI Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Arsenal AIC Parent LLC</name>
        <lei>254900G9F9HA5EP57J39</lei>
        <title>Arsenal AIC Parent LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Univision Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TKC Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Masterbrand, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Axon Enterprise, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wand NewCo 3, Inc.</name>
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        <title>Wand NewCo 3, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-30</maturityDt>
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        <name>UWM Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Versant Media Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stonepeak Nile Parent LLC</name>
        <lei>254900TJV3VAFZD0GU41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Global Medical Response, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Beach Acquisition Bidco LLC</name>
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        <name>Sunoco LP</name>
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        <name>Calderys Financing LLC</name>
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        <name>Mohegan Tribal Gaming Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Gaia Purchaser, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RB Global Holdings, Inc.</name>
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        <name>Block, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LCM Investments Holdings II LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Outfront Media Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aethon United BR LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Weatherford International Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Windsor Holdings III LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Endo Finance Holdings LP</name>
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        <name>CCO Holdings LLC</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>National Mentor Holdings, Inc.</name>
        <lei>5493004QULJVJP3CNZ62</lei>
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        <name>OAK-Eagle Acquireco, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Flyer Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amneal Pharmaceuticals LLC</name>
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        <name>Discovery Global Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Compass Group Diversified Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Block, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Olympus Water US Holding Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Esab Corp.</name>
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        <name>Cougar JV Subsidiary LLC</name>
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        <name>Transocean International Ltd.</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>TerraForm Power Operating LLC</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>Fair Isaac Corp.</name>
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        <name>ON Semiconductor Corp.</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
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          <isCashCollateral>N</isCashCollateral>
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        <name>APLD ComputeCo 2 LLC</name>
        <lei>N/A</lei>
        <title>APLD ComputeCo 2 LLC</title>
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        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115494.85000000</valUSD>
        <pctVal>0.491909190471</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
        <cusip>12769GAB6</cusip>
        <identifiers>
          <isin value="US12769GAB68"/>
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        <balance>82000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82520.37000000</valUSD>
        <pctVal>0.351466133807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>XPLR Infrastructure Operating Partners LP</title>
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        <identifiers>
          <isin value="US65342QAB86"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84397.58000000</valUSD>
        <pctVal>0.359461441402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377DG4</cusip>
        <identifiers>
          <isin value="US629377DG42"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75066.98000000</valUSD>
        <pctVal>0.319721072956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VoltaGrid LLC</name>
        <lei>254900R5BEUGIKK1FM03</lei>
        <title>VoltaGrid LLC</title>
        <cusip>92874BAA3</cusip>
        <identifiers>
          <isin value="US92874BAA35"/>
        </identifiers>
        <balance>133000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138141.25000000</valUSD>
        <pctVal>0.588363467793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>Kodiak Gas Services LLC</title>
        <cusip>50012LAD6</cusip>
        <identifiers>
          <isin value="US50012LAD64"/>
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        <balance>61000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61867.91000000</valUSD>
        <pctVal>0.263504333953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
        <cusip>17888HAC7</cusip>
        <identifiers>
          <isin value="US17888HAC79"/>
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        <balance>57000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59888.61000000</valUSD>
        <pctVal>0.255074210352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765KAC3</cusip>
        <identifiers>
          <isin value="US86765KAC36"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72652.09000000</valUSD>
        <pctVal>0.309435708847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      
      
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Morgan Stanley ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>James F. Kirchner</ncom:signature>
      <ncom:signerName>James F. Kirchner</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
