Morgan Stanley Institutional Fund Trust NPORT-P High Yield Portfolio (Jun 2024 report)

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments

Corporate Bond Portfolio

	Face Amount (000)		Value (000)
Fixed Income Securities (95.3%)
Commercial Mortgage-Backed Securities (2.1%)
Credit Suisse Mortgage Trust,
1 Month Term SOFR + 3.14%, 8.47%, 9/9/24 (a)(b)	$	1,100	$	1,104
J.P. Morgan Chase Commercial Mortgage Securities Trust,
1 Month Term SOFR + 2.18%, 7.51%, 9/15/39 (a)(b)		1,300		1,306
				2,410
Corporate Bonds (93.0%)
Finance (34.8%)
AIB Group PLC,
5.87%, 3/28/35 (a)		475		472
Air Lease Corp.,
MTN
5.20%, 7/15/31		650		635
Ally Financial, Inc.,
2.20%, 11/2/28		375		325
American National Group LLC,
6.14%, 6/13/32 (a)		550		528
Aon North America, Inc.,
5.75%, 3/1/54		300		294
Athene Global Funding,
5.62%, 5/8/26 (a)		600		601
Banco de Credito e Inversiones SA,
2.88%, 10/14/31 (a)		200		171
Banco Santander SA,
4.18%, 3/24/28		600		579
6.35%, 3/14/34		400		401
6.94%, 11/7/33		400		437
Bank Hapoalim BM,
3.26%, 1/21/32		494		445
Bank of America Corp.,
5.87%, 9/15/34		3,500		3,601
Bank of Ireland Group PLC,
5.60%, 3/20/30 (a)		800		800
Bank of New York Mellon Corp.,
MTN
6.47%, 10/25/34		725		782
Bank of Nova Scotia,
8.00%, 1/27/84		200		207
Banque Federative du Credit Mutuel SA,
5.79%, 7/13/28 (a)		650		663
BBVA Bancomer SA,
8.45%, 6/29/38 (a)		200		206
BPCE SA,
6.51%, 1/18/35 (a)		250		250
CaixaBank SA,
6.84%, 9/13/34 (a)		540		571
Centene Corp.,
2.50%, 3/1/31		1,000		821
Charles Schwab Corp.,
6.14%, 8/24/34		925		964
Citigroup, Inc.,
3.79%, 3/17/33		600		535
5.83%, 2/13/35		475		470
COPT Defense Properties LP,
2.75%, 4/15/31		425		352
Credit Agricole SA,
6.25%, 1/10/35 (a)		575		579
Deutsche Bank AG,
6.82%, 11/20/29		225		234
Enact Holdings, Inc.,
6.25%, 5/28/29		900		901
Extra Space Storage LP,
3.90%, 4/1/29		750		707
5.70%, 4/1/28		325		329
First-Citizens Bank & Trust Co.,
2.97%, 9/27/25		775		767
GATX Corp.,
5.40%, 3/15/27		375		375
Global Atlantic Fin Co.,
3.13%, 6/15/31 (a)		450		373
6.75%, 3/15/54 (a)		275		272
7.95%, 10/15/54 (a)		325		327
Goldman Sachs Group, Inc.,
2.62%, 4/22/32		1,450		1,220
Grupo Aval Ltd.,
4.38%, 2/4/30 (a)		375		322
High Street Funding Trust I,
4.11%, 2/15/28 (a)		850		803
HSBC Holdings PLC,
5.73%, 5/17/32		200		201
Intact Financial Corp.,
5.46%, 9/22/32 (a)		825		821
Intesa Sanpaolo SpA,
7.00%, 11/21/25 (a)		525		534
7.20%, 11/28/33 (a)		575		615
Jefferies Financial Group, Inc.,
6.20%, 4/14/34		450		456
JPMorgan Chase & Co.,
6.25%, 10/23/34		2,850		3,024
KeyBank NA,
5.85%, 11/15/27		1,050		1,047
Kite Realty Group LP,
5.50%, 3/1/34		675		660
Lseg U.S. Fin Corp.,
5.30%, 3/28/34 (a)		575		574
National Australia Bank Ltd.,
2.33%, 8/21/30 (a)		375		310
New York Life Global Funding,
5.00%, 1/9/34 (a)		725		713
Nuveen LLC,
5.85%, 4/15/34 (a)		275		276
PNC Financial Services Group, Inc.,
5.49%, 5/14/30		400		402
6.88%, 10/20/34		700		763

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

Corporate Bond Portfolio

	Face Amount (000)		Value (000)
Finance (cont'd)
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.,
3.88%, 3/1/31 (a)	$	545	$	475
Shinhan Bank Co. Ltd.,
4.00%, 4/23/29 (a)		875		820
SMBC Aviation Capital Finance DAC,
2.30%, 6/15/28 (a)		350		311
5.55%, 4/3/34 (a)		525		514
Swiss RE Subordinated Finance PLC,
5.70%, 4/5/35 (a)		400		397
Synchrony Financial,
4.50%, 7/23/25		600		590
Synovus Financial Corp.,
5.20%, 8/11/25		475		468
Toronto-Dominion Bank,
8.13%, 10/31/82		350		364
TPG Operating Group II LP,
5.88%, 3/5/34		725		728
U.S. Bancorp,
5.68%, 1/23/35		500		502
UBS Group AG,
3.09%, 5/14/32 (a)		675		576
9.02%, 11/15/33 (a)		850		1,025
UnitedHealth Group, Inc.,
5.38%, 4/15/54		225		219
5.50%, 4/15/64		525		509
Ventas Realty LP,
5.63%, 7/1/34		600		595
				40,808
Industrials (49.5%)
AbbVie, Inc.,
4.50%, 5/14/35		475		448
5.50%, 3/15/64		375		371
Adventist Health System,
5.43%, 3/1/32		325		322
Alaska Airlines 2020-1 Class A Pass-Through Trust,
4.80%, 2/15/29 (a)		363		356
Alibaba Group Holding Ltd.,
2.70%, 2/9/41		440		296
Alimentation Couche-Tard, Inc.,
5.27%, 2/12/34 (a)		275		271
Amgen, Inc.,
5.25%, 3/2/33		450		449
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.,
4.90%, 2/1/46		525		484
AP Moller - Maersk AS,
5.88%, 9/14/33 (a)		225		230
Apple, Inc.,
2.95%, 9/11/49		875		599
Arches Buyer, Inc.,
4.25%, 6/1/28 (a)		325		291
AT&T, Inc.,
3.50%, 9/15/53		900		612
3.65%, 6/1/51		250		177
4.50%, 5/15/35		725		668
BAE Systems PLC,
5.30%, 3/26/34 (a)		200		198
BAT Capital Corp.,
2.26%, 3/25/28		575		515
3.73%, 9/25/40		250		185
6.00%, 2/20/34		350		354
Boeing Co.,
6.26%, 5/1/27 (a)		100		101
6.30%, 5/1/29 (a)		200		203
6.86%, 5/1/54 (a)		410		421
BP Capital Markets America, Inc.,
5.23%, 11/17/34		475		472
BP Capital Markets PLC,
4.88%, 3/22/30 (c)		550		520
Bristol-Myers Squibb Co.,
5.65%, 2/22/64		400		391
Broadcom, Inc.,
3.19%, 11/15/36 (a)		425		337
Brunswick Corp.,
5.85%, 3/18/29		300		300
Burlington Northern Santa Fe LLC,
5.50%, 3/15/55		225		226
Campbell Soup Co.,
5.40%, 3/21/34		426		423
Cedars-Sinai Health System,
Series 2021
2.29%, 8/15/31		620		519
Celanese US Holdings LLC,
6.35%, 11/15/28		575		591
6.70%, 11/15/33		366		385
Charter Communications Operating LLC/Charter Communications Operating Capital,
3.70%, 4/1/51		375		228
3.90%, 6/1/52		200		126
6.38%, 10/23/35		175		171
6.48%, 10/23/45		300		274
Cisco Systems, Inc.,
5.90%, 2/15/39		225		239
Coca-Cola Consolidated, Inc.,
5.25%, 6/1/29		750		754
Columbia Pipelines Holding Co. LLC,
6.04%, 8/15/28 (a)		250		256
Comcast Corp.,
2.89%, 11/1/51		325		203
3.75%, 4/1/40		1,150		936
CommonSpirit Health,
6.07%, 11/1/27		575		589
Concentrix Corp.,
6.65%, 8/2/26		575		581

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

Corporate Bond Portfolio

	Face Amount (000)		Value (000)
Industrials (cont'd)
Continental Resources, Inc.,
2.88%, 4/1/32 (a)	$	1,100	$	889
CSL Finance PLC,
5.11%, 4/3/34 (a)		400		395
CVS Health Corp.,
1.88%, 2/28/31		550		442
6.05%, 6/1/54		475		466
Delta Air Lines, Inc./SkyMiles IP Ltd.,
4.75%, 10/20/28 (a)		875		853
Diamondback Energy, Inc.,
5.40%, 4/18/34		500		495
6.25%, 3/15/33		450		471
Eli Lilly & Co.,
5.10%, 2/9/64		225		215
Enbridge, Inc.,
5.63%, 4/5/34		550		549
Energy Transfer LP,
5.55%, 5/15/34		1,050		1,040
Enterprise Products Operating LLC,
3.20%, 2/15/52		275		183
5.35%, 1/31/33		675		681
EQT Corp.,
5.70%, 4/1/28		575		581
Ferrellgas LP/Ferrellgas Finance Corp.,
5.88%, 4/1/29 (a)		325		299
Fiserv, Inc.,
5.35%, 3/15/31		550		550
Ford Motor Credit Co. LLC,
7.35%, 3/6/30		1,225		1,297
Genpact Luxembourg SARL/Genpact USA, Inc.,
6.00%, 6/4/29		525		531
Gilead Sciences, Inc.,
4.75%, 3/1/46		400		357
5.65%, 12/1/41		175		176
Glencore Funding LLC,
6.50%, 10/6/33 (a)		400		417
HCA, Inc.,
3.50%, 7/15/51		350		234
6.10%, 4/1/64		250		245
Home Depot, Inc.,
4.95%, 6/25/34		875		866
Hyundai Capital America,
3.00%, 2/10/27 (a)		1,350		1,274
Imperial Brands Finance PLC,
6.13%, 7/27/27 (a)		825		840
Intel Corp.,
3.25%, 11/15/49		300		201
5.60%, 2/21/54		250		242
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.,
2.50%, 1/15/27		550		512
JDE Peet's NV,
1.38%, 1/15/27 (a)		875		792
Kyndryl Holdings, Inc.,
6.35%, 2/20/34		425		432
Las Vegas Sands Corp.,
5.90%, 6/1/27		250		252
6.00%, 8/15/29		160		161
Lithia Motors, Inc.,
3.88%, 6/1/29 (a)		325		292
MasTec, Inc.,
5.90%, 6/15/29		425		427
Meta Platforms, Inc.,
5.75%, 5/15/63		375		386
MSCI, Inc.,
3.63%, 9/1/30 (a)		825		741
Newcastle Coal Infrastructure Group Pty. Ltd.,
4.40%, 9/29/27 (a)		596		565
Newmont Corp.,
2.80%, 10/1/29		675		606
Newmont Corp./Newcrest Finance Pty. Ltd.,
5.35%, 3/15/34 (a)		300		300
Nexa Resources SA,
6.75%, 4/9/34 (a)		200		203
Nissan Motor Acceptance Co. LLC,
1.85%, 9/16/26 (a)		650		595
6.95%, 9/15/26 (a)(d)		650		666
Northern Natural Gas Co.,
5.63%, 2/1/54 (a)		400		392
Occidental Petroleum Corp.,
6.13%, 1/1/31		900		922
ONEOK, Inc.,
6.05%, 9/1/33		875		901
Oracle Corp.,
3.60%, 4/1/50		1,175		823
Perrigo Finance Unlimited Co.,
5.15%, 6/15/30		525		483
Pfizer Investment Enterprises Pte. Ltd.,
5.34%, 5/19/63		850		803
Philip Morris International, Inc.,
5.13%, 11/17/27		250		250
5.25%, 2/13/34		475		466
Qorvo, Inc.,
3.38%, 4/1/31 (a)		700		601
Raizen Fuels Finance SA,
6.45%, 3/5/34 (a)		206		209
Resorts World Las Vegas LLC/RWLV Capital, Inc.,
4.63%, 4/16/29 (a)		300		269
Roche Holdings, Inc.,
4.99%, 3/8/34 (a)		575		570
Rogers Communications, Inc.,
5.30%, 2/15/34		850		834
RTX Corp.,
6.40%, 3/15/54		475		518

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

Corporate Bond Portfolio

	Face Amount (000)		Value (000)
Industrials (cont'd)
S&P Global, Inc.,
5.25%, 9/15/33 (a)	$	625	$	631
Sabine Pass Liquefaction LLC,
4.50%, 5/15/30		575		552
Silgan Holdings, Inc.,
1.40%, 4/1/26 (a)		500		464
Smithfield Foods, Inc.,
3.00%, 10/15/30 (a)		850		722
Smurfit Kappa Treasury ULC,
5.44%, 4/3/34 (a)		200		198
Sodexo, Inc.,
2.72%, 4/16/31 (a)		675		577
Syngenta Finance NV,
4.89%, 4/24/25 (a)		300		297
Tapestry, Inc.,
7.00%, 11/27/26		175		180
7.05%, 11/27/25		125		127
T-Mobile USA, Inc.,
2.25%, 11/15/31		400		327
Tencent Holdings Ltd.,
2.39%, 6/3/30 (a)		200		172
3.60%, 1/19/28 (a)		500		475
3.98%, 4/11/29 (a)		300		285
Thermo Fisher Scientific, Inc.,
5.20%, 1/31/34		550		554
TotalEnergies Capital SA,
5.64%, 4/5/64		250		248
Transportadora de Gas Internacional SA ESP,
5.55%, 11/1/28 (a)		200		195
United Airlines Pass-Through Trust,
Series 2020-1
5.88%, 4/15/29		468		470
Series 2023-1
5.80%, 7/15/37		600		611
Var Energi ASA,
7.50%, 1/15/28 (a)		600		632
Verisk Analytics, Inc.,
5.25%, 6/5/34		575		567
Verizon Communications, Inc.,
1.75%, 1/20/31		1,025		830
2.55%, 3/21/31		675		574
VICI Properties LP,
5.75%, 4/1/34		575		570
Videotron Ltd.,
3.63%, 6/15/29 (a)		650		594
Warnermedia Holdings, Inc.,
5.14%, 3/15/52		450		351
Westinghouse Air Brake Technologies Corp.,
5.61%, 3/11/34		250		252
Zimmer Biomet Holdings, Inc.,
5.35%, 12/1/28		675		679
				57,966
Utilities (8.7%)
AEP Transmission Co. LLC,
5.40%, 3/15/53		475		455
Algonquin Power & Utilities Corp.,
5.37%, 6/15/26 (e)		300		299
Atmos Energy Corp.,
6.20%, 11/15/53		250		270
Berkshire Hathaway Energy Co.,
2.85%, 5/15/51		300		183
Calpine Corp.,
5.13%, 3/15/28 (a)		300		289
Cleveland Electric Illuminating Co.,
4.55%, 11/15/30 (a)		250		236
Consolidated Edison Co. of New York, Inc.,
5.90%, 11/15/53		425		435
Constellation Energy Generation LLC,
5.75%, 3/15/54		300		291
Dominion Energy, Inc.,
5.38%, 11/15/32		400		397
DTE Energy Co.,
5.85%, 6/1/34		650		660
Duke Energy Florida LLC,
6.20%, 11/15/53		525		557
Duke Energy Indiana LLC,
2.75%, 4/1/50		330		200
Engie SA,
5.25%, 4/10/29 (a)		200		200
5.63%, 4/10/34 (a)		400		398
Entergy Texas, Inc.,
3.55%, 9/30/49		200		143
FirstEnergy Corp.,
Series C
3.40%, 3/1/50		250		168
FirstEnergy Pennsylvania Electric Co.,
5.15%, 3/30/26 (a)		300		298
5.20%, 4/1/28 (a)		325		325
Georgia Power Co.,
Series A
3.25%, 3/15/51		325		221
Interstate Power & Light Co.,
2.30%, 6/1/30		300		256
Liberty Utilities Co.,
5.58%, 1/31/29 (a)		800		804
MidAmerican Energy Co.,
3.15%, 4/15/50		250		167
Narragansett Electric Co.,
5.35%, 5/1/34 (a)		650		644
New England Power Co.,
5.94%, 11/25/52 (a)		200		202
NextEra Energy Capital Holdings, Inc.,
5.25%, 3/15/34		625		614
Pacific Gas & Electric Co.,
3.30%, 8/1/40		375		267
4.95%, 7/1/50		350		289

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

Corporate Bond Portfolio

	Face Amount (000)		Value (000)
Utilities (cont'd)
PacifiCorp,
4.15%, 2/15/50	$	225	$	172
Southern California Edison Co.,
5.88%, 12/1/53		275		275
Southwestern Public Service Co.,
6.00%, 6/1/54		525		524
				10,239
				109,013
Sovereign (0.2%)
Petroleos Mexicanos,
6.50%, 3/13/27		302		288
Total Fixed Income Securities (Cost $112,672)				111,711

	Shares
Investment Companies (1.4%)
Calvert Ultra-Short Investment Grade ETF (d)(f)		11,500	580
Eaton Vance Ultra-Short Income ETF (d)(g)		20,930	1,055
Total Investment Companies (Cost $1,639)			1,635
Short-Term Investments (2.6%)
Investment Company (0.2%)
Morgan Stanley Institutional Liquidity Funds — Government Portfolio — Institutional Class, 5.22% (h) (Cost $295)		294,843	295
Securities held as Collateral on Loaned Securities (0.8%)
Investment Company (0.8%)
Morgan Stanley Institutional Liquidity Funds — Government Portfolio — Institutional Class, 5.22% (h) (Cost $884)		883,725	884

	Face Amount (000)
U.S. Treasury Security (1.6%)
U.S. Treasury Bill, 5.31%, 8/1/24 (i)(j)  (Cost $1,857)	$	1,865		1,857
Total Short-Term Investments (Cost $3,036)				3,036
Total Investments (99.3%) (Cost $117,347) including $1,238 of Securities Loaned (k)(l)				116,382
Other Assets in Excess of Liabilities (0.7%)				874
Net Assets (100.0%)			$	117,256

(a)	144A security — Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid.
(b)	Floating or variable rate securities: The rates disclosed are as of June 30, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description in the Portfolio of Investments. Certain variable rate securities may not be based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description in the Portfolio of Investments.
(c)	Perpetual — One or more securities do not have a predetermined maturity date. Rates for these securities are fixed for a period of time after which they revert to a floating rate. Interest rates in effect are as of June 30, 2024.
(d)	All or a portion of this security was on loan. The value of loaned securities and related collateral outstanding at June 30, 2024, were approximately $1,238,000 and $1,267,000 respectively. The Fund received cash collateral of approximately $884,000, which was subsequently invested in Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class as reported in the Portfolio of Investments. The remaining collateral of approximately $383,000 was received in the form of U.S. Government obligations, which the Fund cannot sell or re-pledge and accordingly are not reflected in the Portfolio of Investments. The Fund has the right under the securities lending agreement to recover the securities from the borrower on demand.
(e)	Multi-step — Coupon rate changes in predetermined increments to maturity. Rate disclosed is as of June 30, 2024. Maturity date disclosed is the ultimate maturity date.
(f)	The Fund invests in Calvert Ultra-Short Investment Grade ETF, a management investment company advised by an affiliate of the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Calvert Ultra-Short Investment Grade ETF. For the nine months ended June 30, 2024, advisory fees paid were reduced by less than $500 relating to the Fund's investment in the Calvert Ultra-Short Investment Grade ETF.
(g)	The Fund invests in Eaton Vance Ultra-Short Income ETF, a management investment company advised by an affiliate of the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Eaton Vance Ultra-Short Income ETF. For the nine months ended June 30, 2024, advisory fees paid were reduced by less than $500 relating to the Fund's investment in the Eaton Vance Ultra-Short Income ETF.
(h)	The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser, both directly and as a portion of the securities held as collateral on loaned securities. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended June 30, 2024, advisory fees paid were reduced by approximately $3,000 relating to the Fund's investment in the Liquidity Fund.
(i)	Rate shown is the yield to maturity at June 30, 2024.
(j)	All or a portion of the security was pledged to cover margin requirements for futures contracts.
(k)	Securities are available for collateral in connection with open futures contracts.
(l)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $1,562,000 and the aggregate gross unrealized depreciation is approximately $2,444,000, resulting in net unrealized depreciation of approximately $882,000.

DAC	Designated Activity Company.
ETF	Exchange Traded Fund.
MTN	Medium Term Note.
SOFR	Secured Overnight Financing Rate.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

Corporate Bond Portfolio

Futures Contracts:

The Fund had the following futures contracts open at June 30, 2024:

	Number of Contracts		Expiration Date	Notional Amount (000)			Value (000)			Unrealized Appreciation (Depreciation) (000)
Long:
U.S. Treasury 2 yr. Note (United States)		61	Sep-24	$	12,200		$	12,457		$	25
U.S. Treasury 5 yr. Note (United States)		2	Sep-24		200			213			(—@	)
U.S. Treasury Long Bond (United States)		106	Sep-24		10,600			12,541			250
U.S. Treasury Ultra Long Bond (United States)		30	Sep-24		3,000			3,760			103
Short:
U.S. Treasury 10 yr. Note (United States)		25	Sep-24		(2,500	)		(2,749	)		(26	)
U.S. Treasury 10 yr. Ultra Note (United States)		159	Sep-24		(15,900	)		(18,051	)		(269	)
										$	83

@          Value is less than $500.

USD — United States Dollar

Portfolio Composition*  

Classification	Percentage of Total Investments
Industrials	50.2	%
Finance	35.3
Utilities	8.9
Other**	5.6
Total Investments	100.0	%***

*	Percentages indicated are based upon total investments (excluding Securities held as Collateral on Loaned Securities) as of June 30, 2024.
**	Industries and/or investment types representing less than 5% of total investments.
***	Does not include open futures contracts with a value of approximately $49,771,000 and net unrealized appreciation of approximately $83,000.

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Consolidated Portfolio of Investments 

Discovery Portfolio

	Shares		Value (000)
Common Stocks (93.9%)
Automobiles (0.2%)
Rivian Automotive, Inc., Class A (a)		147,011	$	1,973
Biotechnology (2.7%)
Alnylam Pharmaceuticals, Inc. (a)		9,083		2,207
Argenx SE ADR (Belgium) (a)		6,051		2,602
Intellia Therapeutics, Inc. (a)		109,666		2,455
ProKidney Corp. (a)(b)		733,305		1,804
Roivant Sciences Ltd. (a)		1,387,258		14,663
				23,731
Broadline Retail (7.0%)
Coupang, Inc. (Korea, Republic of) (a)		603,687		12,647
Global-e Online Ltd. (Israel) (a)		1,339,054		48,568
				61,215
Consumer Staples Distribution & Retail (2.4%)
Maplebear, Inc. (a)		655,903		21,081
Entertainment (5.1%)
ROBLOX Corp., Class A (a)		1,201,597		44,711
Financial Services (9.1%)
Adyen NV (Netherlands) (a)		26,199		31,116
Affirm Holdings, Inc. (a)		1,581,675		47,782
				78,898
Ground Transportation (1.9%)
Grab Holdings Ltd., Class A (Singapore) (a)		4,680,009		16,614
Health Care Equipment & Supplies (0.8%)
Dexcom, Inc. (a)		27,117		3,074
Penumbra, Inc. (a)		22,036		3,966
				7,040
Health Care Providers & Services (3.4%)
Agilon Health, Inc. (a)		4,480,222		29,300
Health Care Technology (1.8%)
Doximity, Inc., Class A (a)		552,522		15,454
Hotels, Restaurants & Leisure (7.2%)
DoorDash, Inc., Class A (a)		575,819		62,638
Information Technology Services (11.3%)
Cloudflare, Inc., Class A (a)		901,184		74,645
Fastly, Inc., Class A (a)		1,141,262		8,411
MongoDB, Inc. (a)		25,041		6,259
Snowflake, Inc., Class A (a)		68,064		9,195
				98,510
Leisure Products (1.0%)
Peloton Interactive, Inc., Class A (a)		2,450,837		8,284
Life Sciences Tools & Services (0.9%)
10X Genomics, Inc., Class A (a)		407,968		7,935
Machinery (0.4%)
Symbotic, Inc. (a)(b)		93,136		3,275
Media (7.7%)
Trade Desk, Inc., Class A (a)		690,999		67,490
Pharmaceuticals (4.7%)
Royalty Pharma PLC, Class A		1,538,901		40,581
Software (17.9%)
Aurora Innovation, Inc. (a)		4,755,057		13,172
Bill Holdings, Inc. (a)		387,751		20,404
Gitlab, Inc., Class A (a)		199,402		9,914
MicroStrategy, Inc., Class A (a)		20,500		28,238
Procore Technologies, Inc. (a)		455,090		30,177
QXO, Inc. (a)(c)		923,338		8,439
Samsara, Inc., Class A (a)		1,358,752		45,790
				156,134
Specialty Retail (5.9%)
Carvana Co. (a)		278,464		35,844
Chewy, Inc., Class A (a)		573,094		15,611
				51,455
Textiles, Apparel & Luxury Goods (2.5%)
On Holding AG, Class A (Switzerland) (a)		558,268		21,661
Total Common Stocks (Cost $862,146)				817,980
Preferred Stock (2.8%)
Software (2.8%)
Databricks, Inc., Series H (a)(d)(e) (acquisition cost — $24,713; acquired 8/31/21)		336,299		24,271
Investment Company (2.5%)
iShares Bitcoin Trust (a) (Cost $24,628)		636,488		21,730
Short-Term Investments (2.1%)
Investment Company (2.0%)
Morgan Stanley Institutional Liquidity Funds — Treasury Securities Portfolio — Institutional Class, 5.14% (f) (Cost $17,791)		17,791,347		17,791
Securities held as Collateral on Loaned Securities (0.1%)
Investment Company (0.1%)
Morgan Stanley Institutional Liquidity Funds — Treasury Securities Portfolio — Institutional Class, 5.14% (f)		387,681		388

	Face Amount (000)
Repurchase Agreements (0.0%)‡
Merrill Lynch & Co., Inc., (5.32%, dated 6/28/24, due 7/1/24; proceeds $74; fully collateralized by a U.S. Government obligation; 0.63% due 11/30/27; valued at $75)	$	74		74
Merrill Lynch & Co., Inc., (5.25%, dated 6/28/24, due 7/1/24; proceeds $34; fully collateralized by a U.S. Government obligation; 0.63% due 11/30/27; valued at $35)		34		34
				108
Total Securities held as Collateral on Loaned Securities (Cost $496)				496
Total Short-Term Investments (Cost $18,287)				18,287
Total Investments Excluding Purchased Options (101.3%) (Cost $929,774)				882,268
Total Purchased Options Outstanding (0.1%) (Cost $2,944)				913
Total Investments (101.4%) (Cost $932,718) including $487 of Securities Loaned (g)(h)(i)				883,181
Liabilities in Excess of Other Assets (–1.4%)				(11,987	)
Net Assets (100.0%)			$	871,194

‡	Amount is less than 0.05%.
(a)	Non-income producing security.

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Consolidated Portfolio of Investments (cont'd)

Discovery Portfolio

(b)	All or a portion of this security was on loan. The value of loaned securities and related collateral outstanding at June 30, 2024, were approximately $487,000 and $496,000 respectively. The Fund received cash collateral of approximately $496,000, which was subsequently invested in Repurchase Agreements and Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio - Institutional Class as reported in the Consolidated Portfolio of Investments. The Fund has the right under the securities lending agreement to recover the securities from the borrower on demand.
(c)	Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (“restricted security”). The aggregate value of restricted securities (excluding 144A holdings) at June 30, 2024 amounts to approximately $8,439,000 and represents 1.0% of net assets.
(d)	Security cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules (“restricted security”). Acquisition date represents the day on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description. The Fund has registration rights for certain restricted securities. Any costs related to such registration are borne by the issuer. The aggregate value of restricted securities (excluding 144A holdings) at June 30, 2024 amounts to approximately $24,271,000 and represents 2.8% of net assets.
(e)	At June 30, 2024, the Fund held a fair valued security valued at approximately $24,271,000, representing 2.8% of net assets. This security has been fair valued using significant unobservable inputs as determined in good faith under procedures established by and under the general supervision of the Trust's (as defined herein) Trustees.
(f)	The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser, both directly and as a portion of the securities held as collateral on loaned securities. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended June 30, 2024, advisory fees paid were reduced by approximately $30,000 relating to the Fund's investment in the Liquidity Fund.
(g)	Securities are available for collateral in connection with purchased options.
(h)	The approximate fair value and percentage of net assets, $31,116,000 and 3.6%, respectively, represent the securities that have been fair valued under the fair valuation policy for international investments as described in the Notes to Consolidated Portfolio of Investments.
(i)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $177,467,000 and the aggregate gross unrealized depreciation is approximately $227,004,000, resulting in net unrealized depreciation of approximately $49,537,000.
ADR	American Depositary Receipt.

Call Options Purchased:

The Fund had the following call options purchased open at June 30, 2024:                  

Counterparty	Description	Strike Price		Expiration Date	Number of Contracts		Notional Amount (000)		Value (000)		Premiums Paid (000)		Unrealized Depreciation (000)
Goldman Sachs & Co. LLC	USD/CNH	CNH	7.68	Jan–25		249,313,471	$	249,313	$	407	$	943	$	(536	)
JPMorgan Chase Bank NA	USD/CNH	CNH	7.78	Mar–25		236,408,580		236,409		497		1,003		(506	)
JPMorgan Chase Bank NA	USD/CNH	CNH	7.79	Aug–24		240,890,554		240,891		9		998		(989	)
									$	913	$	2,944	$	(2,031	)

CNH	—	Chinese Yuan Renminbi Offshore
USD	—	United States Dollar

Portfolio Composition*      

Classification	Percentage of Total Investments
Other**		27.0	%
Software		20.4
Information Technology Services		11.2
Financial Services		8.9
Media		7.6
Hotels, Restaurants & Leisure		7.1
Broadline Retail		6.9
Specialty Retail		5.8
Entertainment		5.1
Total Investments		100.0	%

*	Percentages indicated are based upon total investments (excluding Securities held as Collateral on Loaned Securities) as of June 30, 2024.
**	Industries and/or investment types representing less than 5% of total investments.

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Portfolio of Investments 

Dynamic Value Portfolio

	Shares		Value (000)
Common Stocks (65.1%)
Aerospace & Defense (0.7%)
Huntington Ingalls Industries, Inc.		1,824	$	450
Textron, Inc.		5,256		451
				901
Air Freight & Logistics (0.3%)
FedEx Corp.		1,366		410
Automobiles (0.5%)
Ford Motor Co.		19,308		242
General Motors Co.		5,194		241
Harley-Davidson, Inc.		6,662		224
				707
Banks (4.8%)
Bank OZK		19,843		813
BOK Financial Corp.		10,051		921
Columbia Banking System, Inc.		47,145		938
First Citizens BancShares, Inc., Class A		538		906
FNB Corp.		67,776		927
Webster Financial Corp.		20,594		898
Western Alliance Bancorp		14,703		924
				6,327
Beverages (0.4%)
Molson Coors Beverage Co., Class B		9,307		473
Biotechnology (2.0%)
Biogen, Inc. (a)		2,737		634
Gilead Sciences, Inc.		9,291		637
Incyte Corp. (a)		10,996		667
United Therapeutics Corp. (a)		2,291		730
				2,668
Broadline Retail (0.2%)
Kohl's Corp.		4,776		110
Nordstrom, Inc.		5,882		125
				235
Building Products (1.0%)
Builders FirstSource, Inc. (a)		2,748		380
Johnson Controls International PLC		6,572		437
Owens Corning		2,624		456
				1,273
Capital Markets (3.2%)
Affiliated Managers Group, Inc.		3,908		611
Bank of New York Mellon Corp.		10,502		629
Franklin Resources, Inc.		25,882		578
Invesco Ltd.		38,602		578
Janus Henderson Group PLC		18,006		607
State Street Corp.		7,987		591
Virtu Financial, Inc., Class A		26,732		600
				4,194
Chemicals (1.6%)
Celanese Corp.		2,496		337
CF Industries Holdings, Inc.		5,014		372
FMC Corp.		6,089		350
LyondellBasell Industries NV, Class A		3,894		373
Mosaic Co.		12,749		368
Olin Corp.		6,897		325
				2,125
Commercial Services & Supplies (0.3%)
Driven Brands Holdings, Inc. (a)		14,207		181
Vestis Corp.		12,520		153
				334
Construction & Engineering (0.3%)
MDU Resources Group, Inc.		18,175		456
Consumer Finance (2.4%)
Ally Financial, Inc.		15,492		614
Capital One Financial Corp.		4,388		607
OneMain Holdings, Inc.		12,517		607
SLM Corp.		29,479		613
Synchrony Financial		14,041		663
				3,104
Consumer Staples Distribution & Retail (1.0%)
Albertsons Cos., Inc., Class A		25,491		504
Kroger Co.		9,656		482
Walgreens Boots Alliance, Inc.		29,017		351
				1,337
Containers & Packaging (1.1%)
Berry Global Group, Inc.		6,493		382
Graphic Packaging Holding Co.		14,365		377
International Paper Co.		9,510		410
Sonoco Products Co.		6,464		328
				1,497
Distributors (0.1%)
LKQ Corp.		2,756		115
Diversified Consumer Services (0.1%)
ADT, Inc.		21,369		162
Diversified REITs (0.2%)
WP Carey, Inc. REIT		5,672		312
Diversified Telecommunication Services (1.3%)
AT&T, Inc.		90,750		1,734
Electric Utilities (1.6%)
Hawaiian Electric Industries, Inc.		49,973		451
OGE Energy Corp.		15,550		555
PG&E Corp.		30,734		536
Pinnacle West Capital Corp.		7,344		561
				2,103
Electrical Equipment (0.3%)
Sensata Technologies Holding PLC		10,926		409
Electronic Equipment, Instruments & Components (1.0%)
Arrow Electronics, Inc. (a)		2,645		320
Avnet, Inc.		6,492		334
Jabil, Inc.		2,851		310
TD Synnex Corp.		2,736		316
				1,280
Energy Equipment & Services (0.8%)
NOV, Inc.		54,155		1,029
Financial Services (1.4%)
Global Payments, Inc.		5,743		555

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Portfolio of Investments (cont'd)

Dynamic Value Portfolio

	Shares		Value (000)
MGIC Investment Corp.		29,556	$	637
Voya Financial, Inc.		8,356		595
				1,787
Food Products (2.2%)
Archer-Daniels-Midland Co.		8,510		514
Bunge Global SA		5,079		542
Conagra Brands, Inc.		16,896		480
Darling Ingredients, Inc. (a)		11,962		440
Kraft Heinz Co.		14,415		465
Seaboard Corp.		154		487
				2,928
Gas Utilities (0.8%)
National Fuel Gas Co.		10,064		545
UGI Corp.		23,221		532
				1,077
Ground Transportation (0.5%)
Ryder System, Inc.		2,788		345
U-Haul Holding Co.		5,275		317
				662
Health Care Equipment & Supplies (1.6%)
Baxter International, Inc.		13,315		445
Envista Holdings Corp. (a)		25,256		420
Integra LifeSciences Holdings Corp. (a)		17,241		503
QuidelOrtho Corp. (a)		11,077		368
Solventum Corp. (a)		7,514		397
				2,133
Health Care Providers & Services (2.4%)
Centene Corp. (a)		6,014		399
Cigna Group		1,396		462
CVS Health Corp.		8,088		478
Henry Schein, Inc. (a)		6,293		403
Premier, Inc., Class A		23,857		445
Tenet Healthcare Corp. (a)		3,616		481
Universal Health Services, Inc., Class B		2,596		480
				3,148
Hotel & Resort REITs (0.5%)
Host Hotels & Resorts, Inc. REIT		18,468		332
Park Hotels & Resorts, Inc. REIT		20,913		313
				645
Hotels, Restaurants & Leisure (0.9%)
Aramark		4,771		162
Boyd Gaming Corp.		2,876		159
Caesars Entertainment, Inc. (a)		4,445		177
Carnival Corp. (a)		9,770		183
Marriott Vacations Worldwide Corp.		1,597		139
MGM Resorts International (a)		3,800		169
Travel & Leisure Co.		3,452		155
				1,144
Household Durables (0.3%)
Mohawk Industries, Inc. (a)		1,621		184
Whirlpool Corp.		2,137		219
				403
Household Products (0.7%)
Reynolds Consumer Products, Inc.		32,497		909
Independent Power & Renewable Electricity Producers (0.8%)
AES Corp.		26,991		474
Clearway Energy, Inc., Class C		21,672		535
				1,009
Industrial Conglomerates (0.3%)
3M Co.		4,429		453
Information Technology Services (1.1%)
Akamai Technologies, Inc. (a)		1,902		171
Amdocs Ltd.		2,212		175
Cognizant Technology Solutions Corp., Class A		2,602		177
DXC Technology Co. (a)		11,237		215
EPAM Systems, Inc. (a)		953		179
GoDaddy, Inc., Class A (a)		1,319		184
International Business Machines Corp.		1,064		184
Twilio, Inc., Class A (a)		2,946		167
				1,452
Insurance (2.7%)
Assured Guaranty Ltd.		5,936		458
Axis Capital Holdings Ltd.		6,383		451
CNA Financial Corp.		10,074		464
Everest Group Ltd.		1,156		440
Globe Life, Inc.		5,301		436
Loews Corp.		5,870		439
RenaissanceRe Holdings Ltd.		1,980		443
Unum Group		8,572		438
				3,569
Leisure Products (0.1%)
Polaris, Inc.		2,317		181
Machinery (3.3%)
Agco Corp.		4,237		415
Allison Transmission Holdings, Inc.		6,185		469
CNH Industrial NV		40,795		413
Deere & Co.		1,183		442
Gates Industrial Corp. PLC (a)		26,346		417
Middleby Corp. (a)		3,489		428
Oshkosh Corp.		3,956		428
PACCAR, Inc.		4,404		453
Snap-on, Inc.		1,675		438
Timken Co.		5,082		407
				4,310
Media (1.8%)
Cable One, Inc.		686		243
Charter Communications, Inc., Class A (a)		953		285
Comcast Corp., Class A		6,674		261
Fox Corp., Class A		7,976		274
Fox Corp., Class B		8,604		276
Interpublic Group of Cos., Inc.		8,245		240
Liberty Media Corp.-Liberty SiriusXM, Class A (a)		10,821		240
Liberty Media Corp.-Liberty SiriusXM, Class C (a)		10,828		240
Nexstar Media Group, Inc., Class A		1,556		258
				2,317

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Portfolio of Investments (cont'd)

Dynamic Value Portfolio

	Shares		Value (000)
Metals & Mining (0.3%)
Cleveland-Cliffs, Inc. (a)		22,123	$	340
Mortgage Real Estate Investment (0.4%)
Rithm Capital Corp. REIT		54,291		592
Office REITs (0.5%)
Highwoods Properties, Inc. REIT		12,889		339
Kilroy Realty Corp. REIT		9,893		308
				647
Oil, Gas & Consumable Fuels (4.6%)
APA Corp.		33,381		983
HF Sinclair Corp.		18,188		970
Marathon Oil Corp.		39,324		1,127
Marathon Petroleum Corp.		5,862		1,017
Ovintiv, Inc.		20,817		976
Valero Energy Corp.		6,358		997
				6,070
Passenger Airlines (0.7%)
Alaska Air Group, Inc. (a)		7,955		321
Delta Air Lines, Inc.		6,589		313
United Airlines Holdings, Inc. (a)		6,366		310
				944
Personal Care Products (0.7%)
Olaplex Holdings, Inc. (a)		587,878		905
Pharmaceuticals (3.2%)
Bristol-Myers Squibb Co.		14,336		596
Jazz Pharmaceuticals PLC (a)		5,802		619
Organon & Co.		29,069		602
Perrigo Co. PLC		20,952		538
Pfizer, Inc.		21,947		614
Royalty Pharma PLC, Class A		22,906		604
Viatris, Inc.		56,468		600
				4,173
Professional Services (0.6%)
Clarivate PLC (a)		26,491		151
Concentrix Corp.		2,364		150
Dun & Bradstreet Holdings, Inc.		14,787		137
Genpact Ltd.		4,585		147
ManpowerGroup, Inc.		2,062		144
				729
Real Estate Management & Development (0.2%)
Jones Lang LaSalle, Inc. (a)		1,385		284
Retail REITs (0.5%)
Kimco Realty Corp. REIT		17,785		346
NNN REIT, Inc.		8,049		343
				689
Semiconductors & Semiconductor Equipment (2.7%)
Cirrus Logic, Inc. (a)		5,102		651
First Solar, Inc. (a)		2,925		659
GLOBALFOUNDRIES, Inc. (a)		10,639		538
Intel Corp.		17,724		549
ON Semiconductor Corp. (a)		7,754		532
Skyworks Solutions, Inc.		6,081		648
				3,577
Software (0.8%)
Dropbox, Inc., Class A (a)		7,637		172
Gen Digital, Inc.		7,275		182
NCR Voyix Corp. (a)		13,266		164
RingCentral, Inc., Class A (a)		4,854		137
Teradata Corp. (a)		5,391		186
Zoom Video Communications, Inc., Class A (a)		2,831		167
				1,008
Specialized REITs (0.8%)
EPR Properties REIT		8,179		343
Gaming and Leisure Properties, Inc. REIT		7,352		333
VICI Properties, Inc. REIT		11,253		322
				998
Specialty Retail (0.4%)
AutoNation, Inc. (a)		728		116
Best Buy Co., Inc.		1,683		142
Lithia Motors, Inc., Class A		465		117
Penske Automotive Group, Inc.		798		119
Victoria's Secret & Co. (a)		5,761		102
				596
Tech Hardware, Storage & Peripherals (0.6%)
Hewlett Packard Enterprise Co.		19,473		412
HP, Inc.		10,971		384
				796
Textiles, Apparel & Luxury Goods (0.6%)
PVH Corp.		1,709		181
Under Armour, Inc., Class A (a)		28,811		192
Under Armour, Inc., Class C (a)		29,464		192
VF Corp.		15,598		211
				776
Trading Companies & Distributors (0.9%)
Air Lease Corp.		9,490		451
MSC Industrial Direct Co., Inc., Class A		5,070		402
WESCO International, Inc.		2,484		394
				1,247
Total Common Stocks (Cost $83,503)				85,683
Short-Term Investment (34.6%)
Investment Company (34.6%)
Morgan Stanley Institutional Liquidity Funds — Government Portfolio — Institutional Class, 5.22% (b) (Cost $45,437)		45,436,991		45,437
Total Investments (99.7%) (Cost $128,940) (c)(d)(e)				131,120
Other Assets in Excess of Liabilities (0.3%)				414
Net Assets (100.0%)			$	131,534

(a)

Non-income producing security.

(b)

The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended June 30, 2024, advisory fees paid were reduced by approximately $9,000 relating to the Fund's investment in the Liquidity Fund.

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Portfolio of Investments (cont'd)

Dynamic Value Portfolio

(c)	The Fund is permitted to purchase and sell securities ("cross-trade") from and to other Morgan Stanley Funds as well as other funds and client accounts for which the Adviser or an affiliate of the Adviser serves as investment adviser, pursuant to procedures approved by the Trustees in compliance with Rule 17a-7 under the Act (the "Rule"). Each cross-trade is executed at the current market price in compliance with provisions of the Rule. For the nine months ended June 30, 2024, the Fund did not engage in any cross-trade transactions.
(d)	Securities are available for collateral in connection with purchase of swap agreements.
(e)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $7,219,000 and the aggregate gross unrealized depreciation is approximately $7,027,000, resulting in net unrealized appreciation of approximately $192,000.
REIT	Real Estate Investment Trust.

Total Return Swap Agreements:

The Fund had the following total return swap agreements open at June 30, 2024:

Swap Counterparty

Index

Pay/ Receive Total Return of Reference Index

Floating Rate

Payment Frequency

Maturity Date

Notional Amount (000)

Value (000)

Upfront Payment Paid (000)

Unrealized Depreciation (000)

JPMorgan Chase Bank NA

JPM Russell 1000 Value Index††

Receive

SOFR + 0.15%

Quarterly

5/22/25

$

47,952

$

(1,988

)

$

—

$

(1,988

)

†† See tables below for details of the equity basket holdings underlying the swaps.

The following table represents the equity basket top 50 individual holdings underlying the total return swap with JPM Russell 1000 Value Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
JPM Russell 1000 Value Index
Affiliated Managers Group		496	$	77		0.06	%
Ally Financial, Inc.		1,981		79		0.06
APA Corp.		4,229		124		0.09
AT&T, Inc.		11,408		218		0.17
Bank of New York Mellon Corp.		1,329		80		0.06
Bank OZK		2,516		103		0.08
Biogen, Inc.		342		79		0.06
BOK Financial Corporation		1,279		117		0.09
Bristol-Myers Squibb Co.		1,820		76		0.06
Capital One Financial Corp.		557		77		0.06
Cirrus Logic, Inc.		638		81		0.06
Columbia Banking System, Inc.		6,000		119		0.09
First Citizens BancShares, Inc. - Class A		68		115		0.09
First Solar, Inc.		369		83		0.06
FNB Corp.		8,593		118		0.09
Franklin Resources, Inc.		3,272		73		0.06
Gilead Sciences, Inc.		1,166		80		0.06
Global Payments, Inc.		729		70		0.05
HF Sinclair Corp.		2,287		122		0.09
Incyte Corp.		1,385		84		0.06
Intel Corp.		2,250		70		0.05
Invesco Ltd.		4,877		73		0.06
Janus Henderson Group PLC		2,270		76		0.06
Jazz Pharmaceuticals PLC		730		78		0.06
Marathon Oil Corp.		4,947		142		0.11
Marathon Petroleum Corp.		742		129		0.10
Mgic Investment Corp.		3,786		82		0.06
National Fuel Gas Co.		1,264		68		0.05
National Oilwell Varco, Inc.		6,876		131		0.10
OGE Energy Corp.		1,959		70		0.05
Olaplex Holdings, Inc.		74,743		115		0.09
Onemain Holdings, Inc.		1,581		77		0.06
Organon & Co.		3,644		75		0.06
Ovintiv, Inc.		2,627		123		0.09
Pfizer, Inc.		2,770		77		0.06

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited) 

Portfolio of Investments (cont'd)

Dynamic Value Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
JPM Russell 1000 Value Index (cont'd)
Pinnacle West Capital		928	$	71		0.05	%
Reynolds Consumer Products, Inc.		4,061		114		0.09
Rithm Capital Corp.		6,899		75		0.06
Royalty Pharma PLC - Class A		2,881		76		0.06
Skyworks Solutions, Inc.		767		82		0.06
SLM Corp.		3,781		79		0.06
State Street Corp.		1,016		75		0.06
Synchrony Financial		1,775		84		0.06
United Therapeutics Corp.		289		92		0.07
Valero Energy Corp.		799		125		0.10
Viatris, Inc.		7,136		76		0.06
Virtu Financial, Inc. - Class A		3,383		76		0.06
Voya Financial, Inc.		1,058		75		0.06
Webster Financial Corp.		2,614		114		0.09
Western Alliance Bancorp.		1,871		118		0.09

SOFR Secured Overnight Financing Rate.

Portfolio Composition
Classification	Percentage of Total Investments
Other*		65.3	%
Investment Companies		34.7
Total Investments		100.0	%**

*	Industries and/or investment types representing less than 5% of total investments.
**	Does not include an open swap agreement with net unrealized depreciation of approximately $1,988,000.

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
Fixed Income Securities (44.5%)
Agency Fixed Rate Mortgages (3.9%)
United States (3.9%)
Federal Home Loan Mortgage Corporation, Conventional Pools:
2.50%, 4/1/52	$	2,437	$	1,938
4.50%, 1/1/49		58		55
Gold Pools:
3.50%, 1/1/44 - 6/1/45		434		393
4.50%, 1/1/49		15		14
6.50%, 5/1/32		19		20
7.50%, 5/1/35		1		1
Federal National Mortgage Association, Conventional Pools:
2.00%, 3/1/52		1,767		1,385
2.50%, 9/1/52		2,782		2,277
3.00%, 7/1/49 - 6/1/52		4,838		4,153
3.50%, 3/1/47 - 1/1/51		929		832
4.00%, 4/1/45 - 9/1/45		476		445
4.50%, 3/1/41 - 11/1/44		72		70
5.00%, 1/1/41 - 3/1/41		181		181
6.00%, 1/1/38		1		2
6.50%, 12/1/29		3		3
7.50%, 8/1/37		2		2
July TBA:
2.00%, 7/1/54 (a)		1,350		1,056
3.00%, 7/1/54 (a)		300		255
3.50%, 7/1/54 (a)		960		850
4.00%, 7/1/54 (a)		1,000		915
4.50%, 7/1/54 (a)		1,120		1,056
5.00%, 7/1/54 (a)		2,860		2,765
5.50%, 7/1/54 (a)		1,500		1,480
6.00%, 7/1/54 (a)		2,030		2,036
Government National Mortgage Association, Various Pools:
4.00%, 8/20/41 - 11/20/42		113		107
4.50%, 6/20/49		24		23
5.00%, 2/20/49 - 6/20/49		58		56
5.50%, 8/15/39		14		14
				22,384
Asset-Backed Securities (0.5%)
United States (0.5%)
ACM Auto Trust, Class A
7.97%, 6/20/30 (b)		369		371
HGI CRE CLO Ltd.,
1 Month Term SOFR + 1.11%,
6.44%, 9/17/36 (b)(c)		269		268
Renaissance Home Equity Loan Trust,
1 Month Term SOFR + 0.87%,
6.22%, 12/25/32 (c)		460		421
Retained Vantage Data Centers Issuer LLC, Class A2A
5.00%, 9/15/48 (b)		700		677
SASCO Mortgage Loan Trust,
1 Month Term SOFR + 2.29%,
5.13%, 5/25/34 (c)		31		30
SLM Student Loan Trust,
3 Month EURIBOR + 0.55%,
4.43%, 7/25/39 (c)	EUR	254		254
VINE Trust, Class A
4.75%, 12/17/40 (b)	$	995		951
				2,972
Commercial Mortgage-Backed Securities (0.8%)
United States (0.8%)
Ashford Hospitality Trust,
1 Month Term SOFR + 2.02%,
7.48%, 6/15/35 (b)(c)		250		247
BPR Trust,
1 Month Term SOFR + 1.90%,
7.23%, 4/15/37 (b)(c)		500		501
1 Month Term SOFR + 3.00%,
8.33%, 5/15/39 (b)(c)		400		402
Commercial Mortgage Trust,
4.88%, 7/15/47 (b)(c)		152		138
Credit Suisse Mortgage Trust,
1 Month Term SOFR + 3.14%,
8.47%, 9/9/24 (b)(c)		700		703
GS Mortgage Securities Corp. Trust,
1 Month Term SOFR + 1.79%,
7.09%, 6/15/29 (b)(c)		700		701
JW Commercial Mortgage Trust,
1 Month Term SOFR + 1.62%,
6.94%, 6/15/39 (b)(c)		600		600
Life Mortgage Trust,
1 Month Term SOFR + 1.30%,
6.62%, 5/15/39 (b)(c)		500		493
Taubman Centers Commercial Mortgage Trust,
1 Month Term SOFR + 2.19%,
7.51%, 5/15/37 (b)(c)		500		504
				4,289
Corporate Bonds (8.7%)
Australia (0.4%)
Australia & New Zealand Banking Group Ltd.,
2.57%, 11/25/35 (b)		600		493
Commonwealth Bank of Australia,
1.94%, 10/3/29	EUR	400		426
NBN Co. Ltd.,
2.63%, 5/5/31 (b)	$	575		495
Transurban Finance Co. Pty. Ltd.,
2.00%, 8/28/25	EUR	350		368
Westpac Banking Corp.,
2.67%, 11/15/35	$	650		537
				2,319
Brazil (0.1%)
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.,
2.50%, 1/15/27		350		326

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
Canada (0.5%)
Algonquin Power & Utilities Corp.,
5.37%, 6/15/26 (d)	$	275	$	274
Province of Ontario Canada,
4.10%, 3/4/33	CAD	1,300		949
Province of Quebec Canada,
0.00%, 10/29/30	EUR	1,390		1,224
Rogers Communications, Inc.,
3.80%, 3/15/32	$	475		424
				2,871
China (0.1%)
Alibaba Group Holding Ltd.,
2.13%, 2/9/31		400		331
France (1.0%)
AXA SA,
3.25%, 5/28/49	EUR	400		409
Banque Federative du Credit Mutuel SA,
0.75%, 7/17/25		400		416
1.25%, 12/5/25	GBP	400		478
3.75%, 2/1/33	EUR	600		642
BNP Paribas SA,
1.13%, 6/11/26		485		495
1.25%, 7/13/31	GBP	200		194
4.38%, 1/13/29	EUR	400		436
BPCE SA,
4.00%, 11/29/32		400		436
5.15%, 7/21/24 (b)	$	925		924
5.75%, 6/1/33	EUR	500		562
Credit Agricole SA,
3.88%, 4/20/31		700		759
Orange SA,
5.00%, 10/1/26 (e)		250		271
				6,022
Germany (0.7%)
Allianz SE,
2.12%, 7/8/50		100		95
Kreditanstalt fuer Wiederaufbau,
0.38%, 4/23/30		2,290		2,128
RWE AG,
3.63%, 1/10/32		590		628
Volkswagen International Finance NV,
Series 10Y
1.88%, 3/30/27		1,100		1,126
				3,977
Ireland (0.0%)‡
AIB Group PLC,
5.87%, 3/28/35 (b)	$	300		298
Italy (0.1%)
Assicurazioni Generali SpA,
5.50%, 10/27/47	EUR	400		443
Japan (0.1%)
NTT Finance Corp.,
1.59%, 4/3/28 (b)	$	800		705
Korea, Republic of (0.1%)
Korea Southern Power Co. Ltd.,
0.75%, 1/27/26 (b)		730		680
Luxembourg (0.1%)
Blackstone Property Partners Europe Holdings SARL,
1.25%, 4/26/27	EUR	400		394
Logicor Financing SARL,
1.50%, 7/13/26		300		303
				697
Macau (0.0%)‡
Las Vegas Sands Corp.,
6.00%, 8/15/29	$	169		170
Netherlands (0.0%)‡
Alliander NV,
4.50%, 3/27/32 (e)	EUR	120		129
Spain (0.2%)
Banco Santander SA,
3.13%, 1/19/27		400		422
5.18%, 11/19/25	$	800		793
				1,215
Sweden (0.1%)
Akelius Residential Property Financing BV,
1.13%, 1/11/29	EUR	400		370
United Arab Emirates (0.1%)
Galaxy Pipeline Assets Bidco Ltd.,
2.63%, 3/31/36 (b)	$	650		529
United Kingdom (0.6%)
BAT Capital Corp.,
3.56%, 8/15/27		903		858
HSBC Holdings PLC,
2.26%, 11/13/26	GBP	300		363
2.63%, 11/7/25	$	525		519
5.73%, 5/17/32		300		301
Lloyds Banking Group PLC,
2.25%, 10/16/24	GBP	400		501
National Grid Electricity Distribution West Midlands PLC,
5.75%, 4/16/32		200		258
NGG Finance PLC,
5.63%, 6/18/73		350		440
				3,240
United States (4.5%)
Air Lease Corp.,
3.13%, 12/1/30	$	200		175
Amazon.com, Inc.,
3.88%, 8/22/37		325		287
Aon North America, Inc.,
5.45%, 3/1/34		675		672
AT&T, Inc.,
1.80%, 9/5/26	EUR	400		413
2.90%, 12/4/26	GBP	350		420
3.65%, 6/1/51	$	625		442

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
United States (cont’d)
Bank of America Corp.,
5.87%, 9/15/34	$	1,200	$	1,235
Bank of New York Mellon Corp.,
MTN
5.19%, 3/14/35		550		543
Boeing Co.,
6.26%, 5/1/27 (b)		100		101
6.30%, 5/1/29 (b)		200		203
Bristol-Myers Squibb Co.,
5.65%, 2/22/64		200		195
Celanese U.S. Holdings LLC,
6.17%, 7/15/27		950		965
Centene Corp.,
2.50%, 3/1/31		1,050		862
Charles Schwab Corp.,
5.85%, 5/19/34		710		724
Charter Communications Operating LLC/Charter Communications Operating Capital,
4.80%, 3/1/50		500		367
6.38%, 10/23/35		200		195
Chubb INA Holdings LLC,
0.88%, 6/15/27	EUR	400		398
Citigroup, Inc.,
3.06%, 1/25/33	$	1,300		1,105
Comcast Corp.,
2.89%, 11/1/51		325		203
3.75%, 4/1/40		400		326
Enterprise Products Operating LLC,
3.95%, 1/31/60		275		201
4.85%, 1/31/34		175		170
Georgia-Pacific LLC,
2.30%, 4/30/30 (b)		950		820
Global Payments, Inc.,
4.45%, 6/1/28		625		604
Goldman Sachs Group, Inc.,
0.75%, 3/23/32	EUR	620		534
5.85%, 4/25/35	$	525		538
Home Depot, Inc.,
4.95%, 6/25/34		375		371
Jersey Central Power & Light Co.,
2.75%, 3/1/32 (b)		975		806
JPMorgan Chase & Co.,
5.04%, 1/23/28		625		622
6.25%, 10/23/34		1,450		1,539
Las Vegas Sands Corp.,
5.90%, 6/1/27		275		277
Medtronic Global Holdings SCA,
1.00%, 7/2/31	EUR	250		228
Metropolitan Life Global Funding I,
2.95%, 4/9/30 (b)	$	575		512
NextEra Energy Capital Holdings, Inc.,
2.75%, 11/1/29		1,225		1,090
Nuveen LLC,
5.55%, 1/15/30 (b)		375		377
ONEOK, Inc.,
6.05%, 9/1/33		450		464
Oracle Corp.,
2.88%, 3/25/31		1,150		993
Pfizer Investment Enterprises Pte. Ltd.,
5.34%, 5/19/63		250		236
PNC Financial Services Group, Inc.,
6.88%, 10/20/34		925		1,009
Prologis Euro Finance LLC,
1.88%, 1/5/29	EUR	300		297
Republic Services, Inc.,
5.00%, 4/1/34	$	275		269
Thermo Fisher Scientific Finance I BV,
2.00%, 10/18/51	EUR	100		73
Thermo Fisher Scientific, Inc.,
0.88%, 10/1/31		650		585
1.88%, 10/1/49		100		72
U.S. Bancorp,
5.84%, 6/12/34	$	462		469
Upjohn Finance BV,
1.91%, 6/23/32	EUR	550		494
Verizon Communications, Inc.,
1.13%, 11/3/28	GBP	300		326
2.55%, 3/21/31	$	625		531
Vontier Corp.,
2.40%, 4/1/28		250		222
Warnermedia Holdings, Inc.,
5.05%, 3/15/42		125		102
Wells Fargo & Co.,
MTN
5.57%, 7/25/29		425		429
Williams Cos., Inc.,
4.85%, 3/1/48		550		476
				25,567
				49,889
Mortgages - Other (1.0%)
Germany (0.0%)‡
Berg Finance DAC,
3 Month EURIBOR + 1.05%,
4.95%, 4/22/33 (c)	EUR	76		79
Ireland (0.0%)‡
Glenbeigh 2 Issuer 2021-2 DAC,
3 Month EURIBOR + 0.75%,
4.68%, 6/24/50 (b)(c)		240		257
Netherlands (0.1%)
E-MAC NL 2006-II BV,
3 Month EURIBOR + 0.13%,
5.10%, 1/25/39 (c)		346		354
United Kingdom (0.1%)
Great Hall Mortgages No. 1 PLC,
3 Month EURIBOR + 0.25%,
3.97%, 6/18/38 (c)		192		203

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
United Kingdom (cont’d)
Landmark Mortgage Securities No. 3 PLC,
3 Month GBP SONIA + 2.22%,
7.45%, 4/17/44 (c)	GBP	154	$	187
				390
United States (0.8%)
Banc of America Alternative Loan Trust,
6.36%, 10/25/36	$	21		6
Bayview Opportunity Master Fund VIA Trust,
3.00%, 1/25/52 (b)(c)		614		511
ChaseFlex Trust,
6.00%, 2/25/37		20		7
Federal Home Loan Mortgage Corp. Seasoned Credit Risk Transfer Trust,
3.00%, 7/25/58		213		183
3.00%, 10/25/58		25		21
4.00%, 10/25/58		23		21
Federal Home Loan Mortgage Corp. Whole Loan Securities Trust,
3.00%, 9/25/45		44		37
3.00%, 7/25/46		15		13
3.00%, 12/25/46		57		47
3.00%, 5/25/47		103		87
3.50%, 5/25/45		18		15
3.50%, 9/25/45		38		33
3.50%, 7/25/46		24		20
4.00%, 5/25/45		4		4
GS Mortgage-Backed Securities Trust,
2.50%, 1/25/52 (b)(c)		488		390
GSR Mortgage Loan Trust,
5.75%, 1/25/37		7		4
Hundred Acre Wood Trust,
2.50%, 12/25/51 (b)(c)		420		335
JP Morgan Mortgage Trust,
3.00%, 4/25/52 (b)(c)		464		387
3.00%, 9/25/52 (b)(c)		498		415
3.25%, 7/25/52 (b)(c)		580		488
Lehman Mortgage Trust,
6.50%, 9/25/37		17		5
Mello Mortgage Capital Acceptance,
2.50%, 8/25/51 (b)(c)		491		392
Onslow Bay Financial LLC, Class A1
3.00%, 1/25/52 (b)(c)		472		393
PRKCM 2023-AFC1 Trust, Class A1
6.60%, 2/25/58 (b)		291		293
PRMI Securitization Trust,
2.50%, 4/25/51 (b)(c)		567		453
				4,560
				5,640
Municipal Bond (0.1%)
Michigan (0.1%)
University of Michigan, MI,
Series A
4.45%, 4/1/2122(Cost $300)		300		249
Sovereign (21.4%)
Australia (0.4%)
Australia Government Bond,
1.25%, 5/21/32	AUD	1,610		861
Treasury Corp. of Victoria,
MTN
5.25%, 9/15/38		1,990		1,296
				2,157
Austria (0.1%)
Republic of Austria Government Bond,
0.00%, 2/20/30	EUR	360		328
Belgium (0.2%)
Kingdom of Belgium Government Bond,
0.90%, 6/22/29		170		166
1.70%, 6/22/50		480		354
3.45%, 6/22/43		650		694
				1,214
Brazil (1.2%)
Brazil Notas do Tesouro Nacional,
10.00%, 1/1/29	BRL	40,988		6,824
Canada (1.1%)
Canadian Government Bond,
2.00%, 12/1/51	CAD	100		55
3.25%, 12/1/33		6,050		4,333
OMERS Finance Trust,
4.75%, 3/26/31 (b)	$	560		559
Province of British Columbia,
4.75%, 6/12/34		1,070		1,065
				6,012
China (6.0%)
Agricultural Development Bank of China,
2.25%, 4/22/25	CNY	3,600		498
China Development Bank,
3.34%, 7/14/25		3,430		480
China Government Bond,
2.37%, 1/20/27		16,900		2,358
2.69%, 8/15/32		12,300		1,751
2.76%, 5/15/32		116,650		16,693
2.80%, 11/15/32		13,900		1,995
3.12%, 10/25/52		4,420		685
3.13%, 11/21/29		26,150		3,808
3.27%, 11/19/30		23,460		3,469
3.52%, 4/25/46		1,430		232
3.53%, 10/18/51		1,300		215
3.81%, 9/14/50		4,070		701
3.86%, 7/22/49		6,000		1,040
Export-Import Bank of China,
2.93%, 3/2/25		3,470		482
				34,407
Colombia (0.1%)
Colombian TES,
7.00%, 3/26/31	COP	1,634,000		332

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
Czech Republic (0.0%)‡
Czech Republic Government Bond,
1.20%, 3/13/31	CZK	6,000	$	214
Denmark (0.1%)
Denmark Government Bond,
0.50%, 11/15/27	DKK	3,000		403
Estonia (0.1%)
Estonia Government International Bond,
3.25%, 1/17/34	EUR	380		396
Finland (0.1%)
Finland Government Bond,
1.13%, 4/15/34		370		333
3.00%, 9/15/34		400		425
				758
France (1.3%)
Agence Francaise de Developpement EPIC,
1.50%, 10/31/34		700		621
French Republic Government Bond OAT,
0.00%, 11/25/29		6,280		5,730
2.00%, 5/25/48		930		738
SNCF Reseau,
1.88%, 3/30/34		400		370
				7,459
Germany (1.8%)
Bundesrepublik Deutschland Bundesanleihe,
0.00%, 8/15/31 - 5/15/36		3,930		3,549
0.25%, 2/15/29		2,530		2,457
1.70%, 8/15/32		1,430		1,452
4.25%, 7/4/39		1,330		1,699
State of North Rhine-Westphalia Germany,
1.65%, 2/22/38		1,500		1,338
				10,495
Greece (1.0%)
Hellenic Republic Government Bond,
3.38%, 6/15/34		1,000		1,041
4.25%, 6/15/33		4,020		4,516
				5,557
Hungary (0.1%)
Hungary Government Bond,
3.00%, 8/21/30	HUF	51,360		114
Hungary Government International Bond,
4.00%, 7/25/29	EUR	229		243
				357
Indonesia (0.1%)
Indonesia Treasury Bond,
8.38%, 3/15/34	IDR	11,506,000		768
Italy (0.7%)
Italy Buoni Poliennali Del Tesoro,
2.50%, 12/1/32	EUR	1,070		1,036
3.85%, 7/1/34		400		422
4.00%, 11/15/30		1,600		1,742
4.45%, 9/1/43		358		383
4.50%, 10/1/53		550		584
				4,167
Japan (1.7%)
Japan Government Ten Year Bond,
0.10%, 6/20/31	JPY	216,000		1,284
0.80%, 3/20/34		548,000		3,331
Japan Government Thirty Year Bond,
0.30%, 6/20/46		224,000		987
0.40%, 9/20/49		279,000		1,174
Japan Government Twenty Year Bond,
0.40%, 6/20/41		551,000		2,785
				9,561
Korea, Republic of (0.2%)
Export-Import Bank of Korea,
0.63%, 2/9/26	$	640		597
Korea Development Bank,
0.80%, 7/19/26		590		542
				1,139
Lithuania (0.1%)
Republic of Lithuania,
3.50%, 7/3/31 (f)	EUR	290		308
Malaysia (0.2%)
Malaysia Government Bond,
3.58%, 7/15/32	MYR	1,870		389
3.89%, 8/15/29		2,330		499
				888
Mexico (0.1%)
Mexican Bonos,
7.50%, 6/3/27	MXN	6,000		305
7.75%, 5/29/31		5,000		244
8.50%, 5/31/29		5,900		304
				853
Netherlands (0.2%)
Netherlands Government Bond,
0.00%, 7/15/30	EUR	970		885
2.75%, 1/15/47		90		94
				979
Nigeria (0.0%)‡
Africa Finance Corp.,
4.38%, 4/17/26 (b)	$	200		194
Norway (0.0%)‡
Norway Government Bond,
3.63%, 5/31/39	NOK	360		34
Poland (0.0%)‡
Republic of Poland Government Bond,
1.75%, 4/25/32	PLN	1,300		246
Portugal (0.0%)‡
Portugal Obrigacoes do Tesouro OT,
3.63%, 6/12/54	EUR	160		165
Singapore (0.1%)
Singapore Government Bond,
2.63%, 8/1/32	SGD	430		304
Slovenia (0.1%)
Slovenia Government International Bond,
5.00%, 9/19/33 (b)	$	700		696

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

	Face
	Amount		Value
	(000)		(000)
South Africa (2.2%)
Republic of South Africa Government Bond,
8.88%, 2/28/35	ZAR	274,562		12,778
Spain (0.9%)
Spain Government Bond,
0.00%, 1/31/28	EUR	540		520
2.70%, 10/31/48		410		358
3.45%, 10/31/34 - 7/30/66		2,910		3,110
3.50%, 5/31/29		990		1,082
				5,070
Thailand (0.1%)
Thailand Government Bond,
2.00%, 12/17/31	THB	27,000		706
United Kingdom (1.1%)
United Kingdom Gilt,
0.38%, 10/22/30	GBP	820		830
0.63%, 10/22/50		2,170		1,096
0.88%, 7/31/33		1,730		1,651
1.25%, 10/22/41		500		386
1.63%, 10/22/28		550		631
3.50%, 10/22/25 - 1/22/45		1,360		1,594
				6,188
				121,957
Supranational (0.7%)
Asian Development Bank,
MTN
2.13%, 5/19/31	NZD	300		154
Banque Ouest Africaine de Developpement,
4.70%, 10/22/31	$	240		210
Corp. Andina de Fomento,
5.00%, 1/24/29		770		769
MTN
5.30%, 2/19/29	AUD	1,670		1,103
European Financial Stability Facility,
3.00%, 9/4/34	EUR	750		798
European Investment Bank,
0.00%, 1/14/31		1,200		1,065
				4,099
U.S. Treasury Securities (7.4%)
United States (7.4%)
U.S. Treasury Bonds,
1.13%, 5/15/40		5,850		3,602
1.75%, 8/15/41		1,770		1,170
2.50%, 2/15/45		410		293
2.75%, 8/15/47		920		670
U.S. Treasury Inflation-Indexed Notes,
1.75%, 1/15/34		6,113		5,935
U.S. Treasury Notes,
0.38%, 12/31/25		8,300		7,763
0.50%, 4/30/27		530		474
1.13%, 10/31/26		7,000		6,461
1.38%, 10/31/28—11/15/31		8,280		7,151
1.50%, 2/15/30		840		721
1.88%, 6/30/26—2/15/32		2,580		2,375
2.13%, 5/15/25		1,390		1,354
3.38%, 5/15/33		3,940		3,652
4.13%, 9/30/27		760		751
				42,372
Total Fixed Income Securities (Cost $269,638)				253,851

	Shares
Common Stocks (38.1%)
Australia (1.0%)
Ampol Ltd.		1,131	24
ANZ Group Holdings Ltd.		14,159	266
APA Group		5,981	32
Aristocrat Leisure Ltd.		2,668	88
ASX Ltd.		910	36
Aurizon Holdings Ltd.		8,485	21
BHP Group Ltd.		23,832	681
BlueScope Steel Ltd.		2,109	29
Brambles Ltd.		6,441	62
CAR Group Ltd.		1,676	39
Cochlear Ltd.		307	68
Coles Group Ltd.		6,246	71
Commonwealth Bank of Australia		7,855	665
Computershare Ltd.		2,481	43
CSL Ltd.		2,260	443
Dexus REIT		4,945	21
Endeavour Group Ltd.		7,067	24
Fortescue Ltd.		8,060	115
Goodman Group REIT		8,125	187
GPT Group REIT		8,779	23
Insurance Australia Group Ltd.		11,230	53
James Hardie Industries PLC (g)		2,004	63
Lottery Corp. Ltd.		10,414	35
Macquarie Group Ltd.		1,694	231
Medibank Pvt Ltd.		12,766	32
Mineral Resources Ltd.		834	30
Mirvac Group REIT		18,872	24
National Australia Bank Ltd.		14,561	351
Northern Star Resources Ltd.		5,461	47
Orica Ltd.		2,244	27
Origin Energy Ltd.		8,104	59
Pilbara Minerals Ltd.		13,326	27
Pro Medicus Ltd.		266	25
Qantas Airways Ltd. (g)		3,740	15
QBE Insurance Group Ltd.		7,193	83
Ramsay Health Care Ltd.		869	27
REA Group Ltd.		245	32
Reece Ltd.		1,046	18
Rio Tinto Ltd.		1,748	139
Santos Ltd.		15,379	78
Scentre Group REIT		24,137	50
SEEK Ltd.		1,690	24
Seven Group Holdings Ltd.		913	23
Sonic Healthcare Ltd.		2,176	38
South32 Ltd.		21,573	52

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

			Value
	Shares		(000)
Australia (cont’d)
Stockland REIT		11,227	$	31
Suncorp Group Ltd.		5,976		69
Telstra Group Ltd.		19,056		46
Transurban Group (Units)		14,264		118
Treasury Wine Estates Ltd.		3,846		32
Vicinity Ltd. REIT		18,093		22
Washington H Soul Pattinson & Co. Ltd.		1,105		24
Wesfarmers Ltd.		5,414		234
Westpac Banking Corp.		16,241		294
WiseTech Global Ltd.		770		51
Woodside Energy Group Ltd.		9,030		170
Woolworths Group Ltd.		5,727		129
Xero Ltd. (g)		681		62
				5,803
Austria (0.1%)
Erste Group Bank AG		4,779		226
OMV AG		549		24
Verbund AG		261		21
Voestalpine AG		397		11
				282
Belgium (0.2%)
Ageas SA		752		34
Anheuser-Busch InBev SA		4,112		239
Argenx SE (g)		256		112
D'ieteren Group		101		21
Elia Group SA		139		13
Groupe Bruxelles Lambert NV		413		29
KBC Group NV		3,740		264
Lotus Bakeries NV		2		21
Sofina SA		72		16
Syensqo SA		347		31
UCB SA		595		88
Umicore SA		946		14
Warehouses De Pauw CVA REIT		822		22
				904
Canada (1.6%)
Agnico Eagle Mines Ltd.		2,423		158
Air Canada (g)		852		11
Alimentation Couche-Tard, Inc.		3,701		208
AltaGas Ltd.		1,423		32
ARC Resources Ltd.		2,858		51
Bank of Montreal		3,527		296
Bank of Nova Scotia		5,895		270
Barrick Gold Corp. (LSE)		6,644		111
Barrick Gold Corp. (NYSE)		1,893		32
BCE, Inc.		352		11
Brookfield Asset Management Ltd., Class A		1,704		65
Brookfield Corp.		6,520		271
Brookfield Renewable Corp., Class A		649		18
BRP, Inc.		174		11
CAE, Inc. (g)		1,541		29
Cameco Corp.		2,116		104
Canadian Apartment Properties REIT		395		13
Canadian Imperial Bank of Commerce		4,519		215
Canadian National Railway Co.		2,626		310
Canadian Natural Resources Ltd.		10,239		365
Canadian Pacific Kansas City Ltd.		4,480		353
Canadian Tire Corp. Ltd., Class A		251		25
Canadian Utilities Ltd., Class A		641		14
CCL Industries, Inc., Class B		720		38
Cenovus Energy, Inc.		6,705		132
CGI, Inc. (g)		1,000		100
Constellation Software, Inc.		97		279
Descartes Systems Group, Inc. (g)		415		40
Dollarama, Inc.		1,339		122
Element Fleet Management Corp.		1,880		34
Emera, Inc.		1,378		46
Empire Co. Ltd., Class A		667		17
Enbridge, Inc.		10,296		366
Fairfax Financial Holdings Ltd.		101		115
First Quantum Minerals Ltd.		3,410		45
FirstService Corp.		197		30
Fortis, Inc.		2,378		92
Franco-Nevada Corp.		925		110
George Weston Ltd.		289		41
GFL Environmental, Inc.		1,071		42
Gildan Activewear, Inc.		737		28
Great-West Lifeco, Inc.		1,358		40
Hydro One Ltd.		1,588		46
iA Financial Corp., Inc.		476		30
IGM Financial, Inc.		406		11
Imperial Oil Ltd.		894		61
Intact Financial Corp.		857		143
Ivanhoe Mines Ltd., Class A (g)		3,014		39
Keyera Corp.		1,110		31
Kinross Gold Corp.		5,975		50
Loblaw Cos. Ltd.		753		87
Lundin Mining Corp.		3,117		35
Magna International, Inc.		1,309		55
Manulife Financial Corp.		8,613		229
MEG Energy Corp. (g)		1,305		28
Metro, Inc.		1,093		60
National Bank of Canada		1,657		131
Northland Power, Inc.		1,230		21
Nutrien Ltd.		2,389		122
Onex Corp.		319		22
Open Text Corp.		1,328		40
Pan American Silver Corp.		1,785		35
Parkland Corp.		677		19
Pembina Pipeline Corp.		2,792		104
Power Corp. of Canada		2,715		75
Quebecor, Inc., Class B		737		15
RB Global, Inc.		889		68
Restaurant Brands International, Inc.		1,463		103
RioCan Real Estate Investment Trust REIT		711		9
Rogers Communications, Inc., Class B		1,729		64
Royal Bank of Canada		6,771		721

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

			Value
	Shares		(000)
Canada (cont’d)
Saputo, Inc.		1,221	$	27
Shopify, Inc., Class A (g)		5,881		389
Stantec, Inc.		557		47
Sun Life Financial, Inc.		2,808		138
Suncor Energy, Inc.		6,163		235
TC Energy Corp.		5,001		189
Teck Resources Ltd., Class B		2,189		105
TELUS Corp.		2,363		36
TFI International, Inc.		389		56
Thomson Reuters Corp.		769		130
TMX Group Ltd.		1,352		38
Toromont Industries Ltd.		402		36
Toronto-Dominion Bank		8,533		469
Tourmaline Oil Corp.		1,591		72
West Fraser Timber Co. Ltd.		271		21
Wheaton Precious Metals Corp.		2,199		115
WSP Global, Inc.		603		94
				9,341
China (0.0%)
China Common Rich Renewable Energy Investments Ltd. (g)(h)		42,000		—
Denmark (0.5%)
AP Moller - Maersk AS Series B		34		59
Carlsberg AS Series B		447		54
Coloplast AS Series B		586		70
Danske Bank AS		3,148		94
Demant AS (g)		456		20
DSV AS		789		121
Genmab AS (g)		306		77
Novo Nordisk AS, Class B		15,109		2,162
Novozymes AS Series B		1,733		106
Orsted AS (g)		870		46
Pandora AS		378		57
Rockwool AS, Class B		43		17
Tryg AS		1,608		35
Vestas Wind Systems AS (g)		4,626		107
				3,025
Finland (0.2%)
Elisa OYJ		682		31
Fortum OYJ		2,166		32
Kesko OYJ, Class B		1,288		23
Kone OYJ, Class B		1,602		80
Metso OYJ		2,952		31
Neste OYJ		2,036		36
Nokia OYJ		24,552		94
Nordea Bank Abp		47,766		569
Orion OYJ, Class B		513		22
Sampo OYJ, Class A		2,151		93
Stora Enso OYJ, Class R		2,790		38
UPM-Kymmene OYJ		2,599		91
Wartsila OYJ Abp		2,385		46
				1,186
France (1.7%)
Accor SA		895		37
Aeroports de Paris		160		19
Air Liquide SA		2,686		464
Airbus SE		2,770		380
Alstom SA		1,625		27
Amundi SA		287		19
ArcelorMittal SA		2,166		50
Arkema SA		277		24
AXA SA		8,452		277
BioMerieux		192		18
BNP Paribas SA		15,464		989
Bollore SE		3,325		19
Bouygues SA		878		28
Bureau Veritas SA		1,474		41
Capgemini SE		723		144
Carrefour SA		2,643		37
Cie de Saint-Gobain SA		2,125		165
Cie Generale des Etablissements Michelin SCA		3,146		122
Covivio SA REIT		235		11
Credit Agricole SA		15,830		216
Danone SA		2,984		183
Dassault Aviation SA		92		17
Dassault Systemes SE		3,112		117
Edenred SE		1,144		48
Eiffage SA		342		31
Engie SA		8,534		122
EssilorLuxottica SA		1,385		298
Eurazeo SE		212		17
Eurofins Scientific SE		775		39
Euronext NV		376		35
Gecina SA REIT		213		20
Getlink SE		1,419		23
Hermes International		146		337
Ipsen SA		174		21
Kering SA		344		125
Klepierre SA REIT		1,003		27
La Francaise des Jeux SAEM		489		17
Legrand SA		1,223		121
L'Oreal SA		1,122		494
LVMH Moet Hennessy Louis Vuitton SE		1,280		983
Orange SA		8,735		88
Pernod Ricard SA		942		129
Publicis Groupe SA		1,057		112
Remy Cointreau SA		105		9
Renault SA		889		46
Rexel SA		1,038		27
Safran SA		1,572		331
Sanofi SA		5,242		506
Sartorius Stedim Biotech		137		23
Schneider Electric SE		2,522		605
SEB SA		115		12
Societe Generale SA		10,886		256
Sodexo SA		409		37

Morgan Stanley Institutional Fund Trust 

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont’d)

Global Strategist Portfolio

			Value
	Shares		(000)
France (cont’d)
STMicroelectronics NV		3,148	$	123
Teleperformance SE		250		26
Thales SA		439		70
TotalEnergies SE		9,991		669
Unibail-Rodamco-Westfield REIT		548		43
Veolia Environnement SA		3,205		96
Vinci SA		2,326		245
Vivendi SE		3,349		35
				9,650
Germany (1.2%)
adidas AG		751		179
Allianz SE (Registered)		1,821		506
BASF SE		4,094		198
Bayer AG (Registered)		4,502		127
Bayerische Motoren Werke AG		1,438		136
Bayerische Motoren Werke AG (Preference)		267		24
Bechtle AG		380		18
Beiersdorf AG		467		68
Brenntag SE		597		40
Carl Zeiss Meditec AG		184		13
Commerzbank AG		15,664		238
Continental AG		511		29
Covestro AG (g)		829		49
CTS Eventim AG & Co. KGaA		290		24
Daimler Truck Holding AG		2,462		98
Delivery Hero SE (g)		882		21
Deutsche Bank AG (Registered)		8,679		139
Deutsche Boerse AG		881		180
Deutsche Lufthansa AG (Registered)		2,724		17
Deutsche Post AG (Registered)		4,582		186
Deutsche Telekom AG (Registered)		14,921		375
Dr Ing hc F Porsche AG (Preference)		515		38
E.ON SE		10,506		138
Evonik Industries AG		1,187		24
Fresenius Medical Care AG		934		36
Fresenius SE & Co. KGaA (g)		1,952		58
GEA Group AG		715		30
Hannover Rueck SE (Registered)		280		71
Heidelberg Materials AG		629		65
Henkel AG & Co. KGaA		480		38
Henkel AG & Co. KGaA (Preference)		779		69
Infineon Technologies AG		6,040		222
Knorr-Bremse AG		333		25
LEG Immobilien SE		344		28
Mercedes-Benz Group AG (Registered)		3,657		253
Merck KGaA		605		100
MTU Aero Engines AG		251		64
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		634		317
Nemetschek SE		271		26
Porsche Automobil Holding SE (Preference)		702		32
Puma SE		483		22
QIAGEN NV (g)		1,038		43
Rational AG		23		19
Rheinmetall AG		198		101
RWE AG		2,945		101
SAP SE		4,904		985
Sartorius AG (Preference)		124		29
Scout24 SE		352		27
Siemens AG (Registered)		3,499		651
Siemens Energy AG (g)		2,688		70
Siemens Healthineers AG		1,306		75
Symrise AG		611		75
Talanx AG		301		24
Volkswagen AG		135		16
Volkswagen AG (Preference)		940		106
Vonovia SE		3,390		97
Zalando SE (g)		1,120		26
				6,766
Hong Kong (0.3%)
AIA Group Ltd.		53,543		362
BOC Hong Kong Holdings Ltd.		17,593		55
CK Asset Holdings Ltd.		9,105		34
CK Hutchison Holdings Ltd.		12,625		60
CK Infrastructure Holdings Ltd.		2,961		17
CLP Holdings Ltd.		7,781		63
Futu Holdings Ltd. ADR (g)		259		17
Galaxy Entertainment Group Ltd.		10,561		49
Hang Seng Bank Ltd.		3,596		46
Henderson Land Development Co. Ltd.		6,781		18
HKT Trust & HKT Ltd.		18,026		20
Hong Kong & China Gas Co. Ltd.		52,101		40
Hong Kong Exchanges & Clearing Ltd.		5,694		182
Hongkong Land Holdings Ltd.		5,304		17
Jardine Matheson Holdings Ltd.		753		27
Link REIT		12,149		47
MTR Corp. Ltd.		7,359		23
Power Assets Holdings Ltd.		6,472		35
Sands China Ltd. (g)		11,575		24
Sino Land Co. Ltd.		18,543		19
SITC International Holdings Co. Ltd.		6,322		17
Sun Hung Kai Properties Ltd.		6,919		60
Swire Pacific Ltd., Class A		1,957		18
Swire Properties Ltd.		5,557		9
Techtronic Industries Co. Ltd.		6,465		74
WH Group Ltd.		38,350		25
Wharf Holdings Ltd.		5,059		14
Wharf Real Estate Investment Co. Ltd.		7,926		21
				1,393
Ireland (0.1%)
AIB Group PLC		24,481		129
Bank of Ireland Group PLC		15,867		166
Kerry Group PLC, Class A		768		62
Kingspan Group PLC		771		66
Smurfit Kappa Group PLC		1,322		59
				482

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
Israel (0.1%)
Azrieli Group Ltd.		204	$	12
Bank Hapoalim BM		5,950		53
Bank Leumi Le-Israel BM		7,135		58
Check Point Software Technologies Ltd. (g)		431		71
CyberArk Software Ltd. (g)		202		55
Elbit Systems Ltd.		127		22
Global-e Online Ltd. (g)		477		17
ICL Group Ltd.		3,691		16
Israel Discount Bank Ltd., Class A		5,819		29
Mizrahi Tefahot Bank Ltd.		729		25
Monday.com Ltd. (g)		175		42
Nice Ltd. (g)		286		49
Teva Pharmaceutical Industries Ltd. ADR (g)		5,351		87
Wix.com Ltd. (g)		252		40
				576
Italy (0.6%)
Amplifon SpA		578		21
Assicurazioni Generali SpA		4,741		118
Banco BPM SpA		18,331		118
Davide Campari-Milano NV		2,898		27
DiaSorin SpA		106		10
Enel SpA		38,297		266
Eni SpA		9,976		153
EXOR NV		963		100
Ferrari NV		587		239
FinecoBank Banca Fineco SpA		9,141		136
Infrastrutture Wireless Italiane SpA		1,581		16
Intesa Sanpaolo SpA		227,025		844
Leonardo SpA		1,925		45
Mediobanca Banca di Credito Finanziario SpA		8,049		118
Moncler SpA		1,024		63
Nexi SpA (g)		2,794		17
Poste Italiane SpA		2,255		29
Prysmian SpA		1,223		75
Recordati Industria Chimica e Farmaceutica SpA		491		26
Snam SpA		9,879		44
Stellantis NV		10,303		204
Telecom Italia SpA (Milano) (g)		47,092		11
Tenaris SA		2,220		34
Terna — Rete Elettrica Nazionale		6,830		53
UniCredit SpA		23,354		864
				3,631
Netherlands (0.9%)
ABN AMRO Bank NV CVA		6,883		113
Adyen NV (g)		100		119
Aegon Ltd.		6,296		39
AerCap Holdings NV		955		89
Akzo Nobel NV		792		48
ASM International NV		219		167
ASML Holding NV		1,855		1,891
ASR Nederland NV		725		35
BE Semiconductor Industries NV		362		60
Coca-Cola Europacific Partners PLC		963		70
DSM BV (g)		890		91
DSM-Firmenich AG		852		96
Heineken Holding NV		605		48
Heineken NV		1,342		130
IMCD NV		262		36
ING Groep NV		52,348		899
InPost SA (g)		935		16
JDE Peet's NV		561		11
Koninklijke Ahold Delhaize NV		4,373		129
Koninklijke KPN NV		18,304		70
Koninklijke Philips NV (g)		3,750		94
NN Group NV		1,245		58
OCI NV		489		12
Prosus NV (g)		6,540		233
Randstad NV		503		23
Universal Music Group NV		3,789		113
Wolters Kluwer NV		1,149		190
				4,880
New Zealand (0.0%)‡
Auckland International Airport Ltd.		5,253		24
Fisher & Paykel Healthcare Corp. Ltd.		2,319		43
Mercury NZ Ltd.		2,745		11
Meridian Energy Ltd.		5,003		19
Spark New Zealand Ltd.		7,213		18
				115
Norway (0.1%)
Aker BP ASA		1,469		37
DNB Bank ASA		3,912		77
Equinor ASA		4,177		120
Gjensidige Forsikring ASA		936		17
Kongsberg Gruppen ASA		414		34
Mowi ASA		2,171		36
Norsk Hydro ASA		6,110		38
Orkla ASA		3,265		26
Salmar ASA		309		16
Telenor ASA		2,926		33
Yara International ASA		756		22
				456
Portugal (0.0%)‡
EDP - Energias de Portugal SA		16,850		63
EDP Renovaveis SA		1,673		23
Galp Energia SGPS SA		2,475		52
Jeronimo Martins SGPS SA		1,507		30
				168
Singapore (0.2%)
CapitaLand Ascendas REIT		17,085		32
CapitaLand Integrated Commercial Trust REIT		24,607		36
CapitaLand Investment Ltd.		11,994		24
DBS Group Holdings Ltd.		9,128		240
Genting Singapore Ltd.		28,092		18
Grab Holdings Ltd., Class A (g)		9,684		34
Keppel Ltd.		6,669		32
Oversea-Chinese Banking Corp. Ltd.		15,389		163
Sea Ltd. ADR (g)		1,668		119

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
Singapore (cont'd)
Sembcorp Industries Ltd.		4,146	$	15
Singapore Airlines Ltd.		6,828		35
Singapore Exchange Ltd.		3,921		27
Singapore Technologies Engineering Ltd.		7,066		23
Singapore Telecommunications Ltd.		37,781		76
United Overseas Bank Ltd.		5,805		134
Wilmar International Ltd.		8,767		20
				1,028
South Africa (0.8%)
Absa Group Ltd.		84,684		737
Anglo American PLC		6,006		190
Capitec Bank Holdings Ltd.		8,678		1,260
Nedbank Group Ltd.		43,784		620
Standard Bank Group Ltd.		133,619		1,556
				4,363
Spain (0.6%)
Acciona SA		113		13
ACS Actividades de Construccion y Servicios SA		922		40
Aena SME SA		352		71
Amadeus IT Group SA		2,092		139
Banco Bilbao Vizcaya Argentaria SA		87,765		881
Banco de Sabadell SA		24,967		48
Banco Santander SA		237,717		1,106
CaixaBank SA		59,534		316
Cellnex Telecom SA (g)		2,273		74
Endesa SA		1,471		28
Ferrovial SE		2,378		93
Grifols SA (g)		1,371		12
Iberdrola SA		26,818		348
Industria de Diseno Textil SA		5,101		253
Redeia Corp. SA		1,893		33
Repsol SA		5,627		89
Telefonica SA		21,445		91
				3,635
Sweden (0.4%)
Alfa Laval AB		1,338		59
Assa Abloy AB, Class B		4,688		133
Atlas Copco AB, Class A		19,516		348
Beijer Ref AB		1,672		26
Boliden AB		1,281		41
Epiroc AB, Class A		4,925		95
EQT AB		1,711		50
Essity AB, Class B		2,836		72
Evolution AB		838		87
Fastighets AB Balder, Class B (g)		3,101		21
Getinge AB, Class B		1,054		18
H & M Hennes & Mauritz AB, Class B		2,718		43
Hexagon AB, Class B		9,774		111
Holmen AB, Class B		360		14
Husqvarna AB, Class B		1,635		13
Industrivarden AB, Class A		1,319		45
Indutrade AB		1,290		33
Investment AB Latour, Class B		710		19
Investor AB, Class B		8,096		222
L E Lundbergforetagen AB, Class B		355		18
Lifco AB, Class B		1,088		30
Nibe Industrier AB, Class B		7,253		31
Saab AB, Class B		1,488		36
Sagax AB, Class B		1,023		26
Sandvik AB		5,013		101
Securitas AB, Class B		2,297		23
Skandinaviska Enskilda Banken AB, Class A		7,445		110
Skanska AB, Class B		1,598		29
SKF AB, Class B		1,598		32
Svenska Cellulosa AB SCA, Class B		2,836		42
Svenska Handelsbanken AB, Class A		6,804		65
Swedbank AB, Class A		3,938		81
Swedish Orphan Biovitrum AB (g)		914		24
Tele2 AB, Class B		2,498		25
Telefonaktiebolaget LM Ericsson, Class B		12,673		79
Telia Co. AB		10,823		29
Trelleborg AB, Class B		998		39
Volvo AB, Class A		8,299		213
Volvo Car AB, Class B (g)		3,301		10
				2,493
Switzerland (1.3%)
ABB Ltd. (Registered)		7,377		409
Adecco Group AG (Registered)		777		26
Alcon, Inc.		2,313		206
Avolta AG (Registered)		423		16
Bachem Holding AG		158		14
Baloise Holding AG (Registered)		216		38
Banque Cantonale Vaudoise (Registered)		140		15
Barry Callebaut AG (Registered)		17		28
BKW AG		99		16
Chocoladefabriken Lindt & Spruengli AG		5		58
Chocoladefabriken Lindt & Spruengli AG (Registered)		1		115
Cie Financiere Richemont SA, Class A (Registered)		2,493		390
Clariant AG (Registered) (g)		995		16
EMS-Chemie Holding AG (Registered)		33		27
Geberit AG (Registered)		154		91
Givaudan SA (Registered)		43		204
Helvetia Holding AG (Registered)		176		24
Holcim AG (g)		2,413		213
Julius Baer Group Ltd.		953		53
Kuehne & Nagel International AG (Registered)		224		64
Logitech International SA (Registered)		723		70
Lonza Group AG (Registered)		349		190
Nestle SA (Registered)		12,332		1,259
Novartis AG (Registered)		9,035		962
Partners Group Holding AG		105		134
Roche Holding AG		149		45
Roche Holding AG (Genusschein)		3,272		907
Sandoz Group AG		1,904		69
Schindler Holding AG		190		48
Schindler Holding AG (Registered)		109		27

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
Switzerland (cont'd)
SGS SA (Registered)		706	$	63
SIG Group AG (g)		1,412		26
Sika AG (Registered)		709		202
Sonova Holding AG (Registered)		237		73
Straumann Holding AG (Registered)		517		64
Swatch Group AG		132		27
Swatch Group AG (Registered)		242		10
Swiss Life Holding AG (Registered)		138		101
Swiss Prime Site AG (Registered)		358		34
Swiss Re AG		1,413		175
Swisscom AG (Registered)		120		68
Temenos AG (Registered)		296		20
UBS Group AG (Registered) (g)		15,159		445
VAT Group AG		125		71
Zurich Insurance Group AG		680		362
				7,475
United Kingdom (2.0%)
3i Group PLC		4,610		178
Admiral Group PLC		1,230		41
Antofagasta PLC		1,840		49
Ashtead Group PLC		2,039		136
Associated British Foods PLC		1,565		49
AstraZeneca PLC		7,353		1,144
Auto Trader Group PLC		4,255		43
Aviva PLC		12,742		77
BAE Systems PLC		14,219		237
Barclays PLC		70,101		185
Barratt Developments PLC		4,604		27
Berkeley Group Holdings PLC		505		29
BP PLC		79,363		478
British American Tobacco PLC		9,354		287
BT Group PLC		30,105		53
Bunzl PLC		1,583		60
Burberry Group PLC		1,659		18
Centrica PLC		25,125		43
Coca-Cola HBC AG (g)		1,028		35
Compass Group PLC		8,016		218
Croda International PLC		624		31
DCC PLC		467		33
Diageo PLC		10,510		330
Endeavour Mining PLC		870		19
Entain PLC		2,986		24
Evraz PLC (g)(h)		2,495		—
Experian PLC		4,329		201
Flutter Entertainment PLC (g)		860		156
G4S Ltd. (g)		6,437		20
Glencore PLC		48,673		277
GSK PLC		19,407		373
Haleon PLC		32,519		132
Halma PLC		1,783		61
Hargreaves Lansdown PLC		1,683		24
Hikma Pharmaceuticals PLC		786		19
HSBC Holdings PLC		88,020		760
Imperial Brands PLC		3,830		98
Informa PLC		6,365		69
InterContinental Hotels Group PLC		766		81
Intertek Group PLC		760		46
J Sainsbury PLC		7,884		25
JD Sports Fashion PLC		11,911		18
Kingfisher PLC		8,851		28
Land Securities Group PLC REIT		3,340		26
Legal & General Group PLC		28,339		81
Lloyds Banking Group PLC		296,820		205
London Stock Exchange Group PLC		2,147		255
M&G PLC		10,624		27
Melrose Industries PLC		6,153		43
Mondi PLC		2,090		40
National Grid PLC		22,857		255
NatWest Group PLC		30,560		120
Next PLC		565		65
Paragon Offshore PLC (g)(h)		303		—
Pearson PLC		2,887		36
Persimmon PLC		1,502		26
Phoenix Group Holdings PLC		3,271		22
Prudential PLC		12,258		111
Reckitt Benckiser Group PLC		3,317		179
RELX PLC (LSE)		8,838		405
Rentokil Initial PLC		11,961		69
Rio Tinto PLC		5,355		351
Rolls-Royce Holdings PLC (g)		39,310		226
Sage Group PLC		4,763		65
Schroders PLC		3,815		17
Segro PLC REIT		5,985		68
Severn Trent PLC		1,274		38
Shell PLC		30,123		1,080
Smith & Nephew PLC		4,149		51
Smiths Group PLC		1,629		35
Spirax Group PLC		347		37
SSE PLC		5,165		117
Standard Chartered PLC		10,308		93
Taylor Wimpey PLC		16,678		30
Tesco PLC		33,079		128
Unilever PLC CVA		11,851		650
United Utilities Group PLC		3,232		40
Vodafone Group PLC		108,297		96
Whitbread PLC		866		33
Wise PLC Class A (g)		2,943		25
WPP PLC		5,000		46
				11,403
United States (24.2%)
3M Co.		1,603		164
A O Smith Corp.		351		29
Abbott Laboratories		5,061		526
AbbVie, Inc.		5,099		875
Accenture PLC, Class A		1,831		556
Adobe, Inc. (g)		1,308		727
Advanced Micro Devices, Inc. (g)		4,766		773

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
AECOM		390	$	34
AES Corp.		2,020		35
Aflac, Inc.		1,574		141
Agilent Technologies, Inc.		838		109
Air Products & Chemicals, Inc.		653		169
Airbnb, Inc., Class A (g)		1,301		197
Akamai Technologies, Inc. (g)		441		40
Albemarle Corp.		343		33
Albertsons Cos., Inc., Class A		996		20
Alexandria Real Estate Equities, Inc. REIT		456		53
Align Technology, Inc. (g)		208		50
Allegion PLC		248		29
Alliant Energy Corp.		743		38
Allstate Corp.		758		121
Ally Financial, Inc.		781		31
Alnylam Pharmaceuticals, Inc. (g)		286		70
Alphabet, Inc., Class A		31,948		5,839
Altria Group, Inc.		4,952		226
Amazon.com, Inc. (g)		27,198		5,256
Amcor PLC		4,214		41
Ameren Corp.		771		55
American Electric Power Co., Inc.		1,520		133
American Express Co.		1,661		385
American Financial Group, Inc.		206		25
American Homes 4 Rent, Class A REIT		950		35
American International Group, Inc.		1,936		144
American Tower Corp. REIT		1,356		264
American Water Works Co., Inc.		560		72
Ameriprise Financial, Inc.		289		123
AMETEK, Inc.		665		111
Amgen, Inc.		1,544		482
Amphenol Corp., Class A		3,539		238
Analog Devices, Inc.		1,450		331
Annaly Capital Management, Inc. REIT		1,448		28
ANSYS, Inc. (g)		255		82
Aon PLC, Class A		580		170
APA Corp.		1,051		31
Apollo Global Management, Inc.		1,157		137
Apple, Inc.		42,529		8,957
Applied Materials, Inc.		2,450		578
AppLovin Corp., Class A (g)		528		44
Aptiv PLC (g)		786		55
Arch Capital Group Ltd. (g)		1,088		110
Archer-Daniels-Midland Co.		1,457		88
Ares Management Corp., Class A		519		69
Arista Networks, Inc. (g)		792		278
Arthur J Gallagher & Co.		634		164
Aspen Technology, Inc. (g)		84		17
Assurant, Inc.		151		25
AT&T, Inc.		20,681		395
Atlassian Corp., Class A (g)		455		80
Atmos Energy Corp.		437		51
Autodesk, Inc. (g)		629		156
Automatic Data Processing, Inc.		1,192		285
AutoZone, Inc. (g)		51		151
AvalonBay Communities, Inc. REIT		412		85
Avantor, Inc. (g)		1,943		41
Avery Dennison Corp.		232		51
Axon Enterprise, Inc. (g)		207		61
Baker Hughes Co.		2,861		101
Ball Corp.		906		54
Bank of America Corp.		20,412		812
Bank of New York Mellon Corp.		2,178		130
Bath & Body Works, Inc.		623		24
Baxter International, Inc.		1,491		50
Becton Dickinson & Co.		848		198
Bentley Systems, Inc., Class B		466		23
Berkshire Hathaway, Inc., Class B (g)		3,788		1,541
Best Buy Co., Inc.		566		48
Biogen, Inc. (g)		422		98
BioMarin Pharmaceutical, Inc. (g)		549		45
Bio-Rad Laboratories, Inc., Class A (g)		58		16
Bio-Techne Corp.		453		32
BlackRock, Inc.		432		340
Blackstone, Inc.		2,061		255
Block, Inc., Class A (g)		1,571		101
Boeing Co. (g)		1,673		305
Booking Holdings, Inc.		99		392
Booz Allen Hamilton Holding Corp.		372		57
Boston Properties, Inc. REIT		429		26
Boston Scientific Corp. (g)		4,307		332
Bristol-Myers Squibb Co.		5,907		245
Broadcom, Inc.		1,297		2,082
Broadridge Financial Solutions, Inc.		343		68
Brown & Brown, Inc.		707		63
Brown-Forman Corp., Class B		532		23
Builders FirstSource, Inc. (g)		352		49
Bunge Global SA		411		44
Burlington Stores, Inc. (g)		186		45
Cadence Design Systems, Inc. (g)		809		249
Caesars Entertainment, Inc. (g)		629		25
Camden Property Trust REIT		310		34
Campbell Soup Co.		556		25
Capital One Financial Corp.		1,102		153
Cardinal Health, Inc.		707		70
Carlisle Cos., Inc.		137		56
Carlyle Group, Inc.		677		27
CarMax, Inc. (g)		454		33
Carnival Corp. (g)		2,910		54
Carrier Global Corp.		2,280		144
Catalent, Inc. (g)		527		30
Caterpillar, Inc.		1,440		480
Cboe Global Markets, Inc.		311		53
CBRE Group, Inc., Class A (g)		889		79
CDW Corp.		392		88
Celanese Corp.		323		44
Celsius Holdings, Inc. (g)		449		26

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
Cencora, Inc.		518	$	117
Centene Corp. (g)		1,546		103
CenterPoint Energy, Inc.		1,832		57
CF Industries Holdings, Inc.		532		39
CH Robinson Worldwide, Inc.		332		29
Charles River Laboratories International, Inc. (g)		150		31
Charles Schwab Corp.		4,350		321
Charter Communications, Inc., Class A (g)		272		81
Cheniere Energy, Inc.		666		116
Chesapeake Energy Corp.		316		26
Chevron Corp.		5,046		789
Chipotle Mexican Grill, Inc. (g)		4,050		254
Chord Energy Corp.		177		30
Chubb Ltd.		1,177		300
Church & Dwight Co., Inc.		717		74
Cigna Group		819		271
Cincinnati Financial Corp.		451		53
Cintas Corp.		266		186
Cisco Systems, Inc.		11,745		558
Citigroup, Inc.		5,504		349
Citizens Financial Group, Inc.		1,315		47
Cleveland-Cliffs, Inc. (g)		1,449		22
Clorox Co.		362		49
Cloudflare, Inc., Class A (g)		864		72
CME Group, Inc.		1,040		204
CMS Energy Corp.		861		51
CNH Industrial NV		2,497		25
Coca-Cola Co.		11,772		749
Cognizant Technology Solutions Corp., Class A		1,439		98
Coinbase Global, Inc., Class A (g)		556		124
Colgate-Palmolive Co.		2,260		219
Comcast Corp., Class A		11,537		452
Conagra Brands, Inc.		1,372		39
Confluent, Inc., Class A (g)		588		17
ConocoPhillips		3,358		384
Consolidated Edison, Inc.		996		89
Constellation Brands, Inc., Class A		477		123
Constellation Energy Corp.		913		183
Cooper Cos., Inc.		582		51
Copart, Inc. (g)		2,511		136
Corebridge Financial, Inc.		720		21
Corning, Inc.		2,361		92
Corpay, Inc. (g)		197		52
Corteva, Inc.		2,032		110
CoStar Group, Inc. (g)		1,191		88
Costco Wholesale Corp.		1,299		1,104
Coterra Energy, Inc.		2,138		57
CRH PLC		2,005		150
Crowdstrike Holdings, Inc., Class A (g)		669		256
Crown Castle, Inc. REIT		1,260		123
Crown Holdings, Inc.		345		26
CSX Corp.		5,691		190
Cummins, Inc.		390		108
CVS Health Corp.		3,658		216
Danaher Corp.		2,033		508
Darden Restaurants, Inc.		348		53
Datadog, Inc., Class A (g)		797		103
DaVita, Inc. (g)		155		21
Dayforce, Inc. (g)		429		21
Deckers Outdoor Corp. (g)		75		73
Deere & Co.		761		284
Dell Technologies, Inc., Class C		791		109
Delta Air Lines, Inc.		462		22
Devon Energy Corp.		1,814		86
Dexcom, Inc. (g)		1,154		131
Diamondback Energy, Inc.		484		97
Dick's Sporting Goods, Inc.		172		37
Digital Realty Trust, Inc. REIT		903		137
Discover Financial Services		732		96
DocuSign, Inc. (g)		600		32
Dollar General Corp.		634		84
Dollar Tree, Inc. (g)		602		64
Dominion Energy, Inc.		2,423		119
Domino's Pizza, Inc.		100		52
DoorDash, Inc., Class A (g)		830		90
Dover Corp.		396		71
Dow, Inc.		2,030		108
DR Horton, Inc.		859		121
DraftKings, Inc., Class A (g)		1,271		49
DTE Energy Co.		599		66
Duke Energy Corp.		2,224		223
DuPont de Nemours, Inc.		1,205		97
Dynatrace, Inc. (g)		784		35
Eastman Chemical Co.		337		33
Eaton Corp. PLC		1,156		362
eBay, Inc.		1,500		81
Ecolab, Inc.		749		178
Edison International		1,111		80
Edwards Lifesciences Corp. (g)		1,743		161
Electronic Arts, Inc.		729		102
Elevance Health, Inc.		674		365
Eli Lilly & Co.		2,349		2,127
EMCOR Group, Inc.		139		51
Emerson Electric Co.		1,650		182
Enphase Energy, Inc. (g)		395		39
Entegris, Inc.		443		60
Entergy Corp.		611		65
EOG Resources, Inc.		1,666		210
EPAM Systems, Inc. (g)		167		31
EQT Corp.		1,189		44
Equifax, Inc.		363		88
Equinix, Inc. REIT		276		209
Equitable Holdings, Inc.		949		39
Equity Lifestyle Properties, Inc. REIT		511		33
Equity Residential REIT		985		68
Erie Indemnity Co., Class A		73		26
Essential Utilities, Inc.		748		28

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
Essex Property Trust, Inc. REIT		185	$	50
Estee Lauder Cos., Inc., Class A		672		72
Etsy, Inc. (g)		349		21
Everest Group Ltd.		127		48
Evergy, Inc.		662		35
Eversource Energy		1,009		57
Exact Sciences Corp. (g)		545		23
Exelon Corp.		2,899		100
Expedia Group, Inc. (g)		384		48
Expeditors International of Washington, Inc.		413		52
Extra Space Storage, Inc. REIT		615		96
Exxon Mobil Corp.		12,863		1,481
F5, Inc. (g)		171		29
FactSet Research Systems, Inc.		111		45
Fair Isaac Corp. (g)		73		109
Fastenal Co.		1,669		105
FedEx Corp.		676		203
Ferguson PLC		589		114
Fidelity National Financial, Inc.		757		37
Fidelity National Information Services, Inc.		1,664		125
Fifth Third Bancorp		1,961		72
First Citizens BancShares, Inc., Class A		30		51
First Republic Bank (g)		501		—@
First Solar, Inc. (g)		293		66
FirstEnergy Corp.		1,582		61
Fiserv, Inc. (g)		1,705		254
Ford Motor Co.		11,036		138
Fortinet, Inc. (g)		1,886		114
Fortive Corp.		1,017		75
Fortune Brands Innovations, Inc.		362		24
Fox Corp., Class A		1,108		37
Franklin Resources, Inc.		834		19
Freeport-McMoRan, Inc.		4,111		200
Gaming and Leisure Properties, Inc. REIT		784		35
Garmin Ltd.		442		72
Gartner, Inc. (g)		229		103
GE HealthCare Technologies, Inc.		1,262		98
GE Vernova, Inc. (g)		786		135
Gen Digital, Inc.		1,677		42
General Dynamics Corp.		675		196
General Electric Co.		3,199		509
General Mills, Inc.		1,626		103
General Motors Co.		3,302		153
Genuine Parts Co.		405		56
Gilead Sciences, Inc.		3,584		246
Global Payments, Inc.		740		72
GoDaddy, Inc., Class A (g)		395		55
Goldman Sachs Group, Inc.		932		422
Graco, Inc.		488		39
GRAIL, Inc. (g)		76		1
Halliburton Co.		2,550		86
Hartford Financial Services Group, Inc.		857		86
HCA Healthcare, Inc.		577		185
Healthpeak Properties, Inc. REIT		2,043		40
HEICO Corp.		345		67
Henry Schein, Inc. (g)		371		24
Hershey Co.		423		78
Hess Corp.		792		117
Hewlett Packard Enterprise Co.		3,792		80
HF Sinclair Corp.		472		25
Hilton Worldwide Holdings, Inc.		733		160
Hologic, Inc. (g)		687		51
Home Depot, Inc.		2,889		995
Honeywell International, Inc.		1,880		401
Hormel Foods Corp.		871		27
Host Hotels & Resorts, Inc. REIT		2,050		37
Howmet Aerospace, Inc.		1,124		87
HP, Inc.		2,836		99
Hubbell, Inc.		155		57
HubSpot, Inc. (g)		141		83
Humana, Inc.		352		132
Huntington Bancshares, Inc.		4,177		55
Huntington Ingalls Industries, Inc.		114		28
Hyatt Hotels Corp., Class A		131		20
IDEX Corp.		219		44
IDEXX Laboratories, Inc. (g)		245		119
Illinois Tool Works, Inc.		862		204
Illumina, Inc. (g)		456		48
Incyte Corp. (g)		454		28
Ingersoll Rand, Inc.		1,172		106
Insulet Corp. (g)		204		41
Intel Corp.		12,493		387
Intercontinental Exchange, Inc.		1,663		228
International Business Machines Corp.		2,597		449
International Flavors & Fragrances, Inc.		737		70
International Paper Co.		946		41
Interpublic Group of Cos., Inc.		1,101		32
Intuit, Inc.		824		542
Intuitive Surgical, Inc. (g)		1,038		462
Invitation Homes, Inc. REIT		1,764		63
IQVIA Holdings, Inc. (g)		529		112
Iron Mountain, Inc. REIT		856		77
J M Smucker Co.		304		33
Jabil, Inc.		347		38
Jack Henry & Associates, Inc.		211		35
Jacobs Solutions, Inc.		366		51
JB Hunt Transport Services, Inc.		237		38
Johnson & Johnson		7,046		1,030
Johnson Controls International PLC		1,963		130
JPMorgan Chase & Co.		8,279		1,675
Juniper Networks, Inc.		944		34
Kellanova		785		45
Kenvue, Inc.		5,470		99
Keurig Dr Pepper, Inc.		3,151		105
KeyCorp		2,667		38
Keysight Technologies, Inc. (g)		507		69
Kimberly-Clark Corp.		978		135

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
Kimco Realty Corp. REIT		1,954	$	38
Kinder Morgan, Inc.		5,761		114
KKR & Co., Inc.		1,790		188
KLA Corp.		399		329
Knight-Swift Transportation Holdings, Inc.		463		23
Kraft Heinz Co.		2,631		85
Kroger Co.		2,001		100
L3Harris Technologies, Inc.		550		124
Labcorp Holdings, Inc.		244		50
Lam Research Corp.		385		410
Lamb Weston Holdings, Inc.		420		35
Las Vegas Sands Corp.		1,113		49
Lattice Semiconductor Corp. (g)		403		23
Leidos Holdings, Inc.		370		54
Lennar Corp., Class A		715		107
Lennox International, Inc.		93		50
Liberty Media Corp.-Liberty Formula One, Class C (g)		574		41
Linde PLC		1,397		613
Live Nation Entertainment, Inc. (g)		468		44
LKQ Corp.		769		32
Lockheed Martin Corp.		624		291
Loews Corp.		544		41
Lowe's Cos., Inc.		1,662		366
LPL Financial Holdings, Inc.		218		61
Lululemon Athletica, Inc. (g)		332		99
LyondellBasell Industries NV, Class A		746		71
M&T Bank Corp.		482		73
Manhattan Associates, Inc. (g)		180		44
Marathon Oil Corp.		1,643		47
Marathon Petroleum Corp.		1,042		181
Markel Group, Inc. (g)		38		60
MarketAxess Holdings, Inc.		108		22
Marriott International, Inc., Class A		712		172
Marsh & McLennan Cos., Inc.		1,426		300
Martin Marietta Materials, Inc.		180		98
Marvell Technology, Inc.		2,585		181
Masco Corp.		633		42
Mastercard, Inc., Class A		2,401		1,059
Match Group, Inc. (g)		773		23
McCormick & Co., Inc.		724		51
McDonald's Corp.		2,105		536
McKesson Corp.		381		223
Medtronic PLC		3,874		305
MercadoLibre, Inc. (g)		133		219
Merck & Co., Inc.		7,339		909
Meta Platforms, Inc., Class A		6,263		3,158
MetLife, Inc.		1,772		124
Mettler-Toledo International, Inc. (g)		62		87
MGM Resorts International (g)		690		31
Microchip Technology, Inc.		1,585		145
Micron Technology, Inc.		3,191		420
Microsoft Corp.		20,498		9,162
MicroStrategy, Inc., Class A (g)		47		65
Mid-America Apartment Communities, Inc. REIT		337		48
Moderna, Inc. (g)		933		111
Molina Healthcare, Inc. (g)		170		51
Molson Coors Beverage Co., Class B		535		27
Mondelez International, Inc., Class A		3,862		253
MongoDB, Inc. (g)		208		52
Monolithic Power Systems, Inc.		144		118
Monster Beverage Corp. (g)		2,129		106
Moody's Corp.		476		200
Mosaic Co.		913		26
Motorola Solutions, Inc.		483		186
MSCI, Inc.		229		110
Nasdaq, Inc.		1,164		70
NetApp, Inc.		601		77
Netflix, Inc. (g)		1,278		862
Neurocrine Biosciences, Inc. (g)		289		40
Newmont Corp. (TSX)		3,313		139
News Corp., Class A		1,080		30
NextEra Energy, Inc.		5,945		421
NIKE, Inc., Class B		3,528		266
NiSource, Inc.		1,287		37
Nordson Corp.		158		37
Norfolk Southern Corp.		653		140
Northern Trust Corp.		590		50
Northrop Grumman Corp.		407		177
NRG Energy, Inc.		618		48
Nucor Corp.		700		111
NVIDIA Corp.		75,131		9,282
NVR, Inc. (g)		9		68
NXP Semiconductors NV		750		202
Occidental Petroleum Corp.		1,898		120
Okta, Inc. (g)		465		44
Old Dominion Freight Line, Inc.		560		99
Omnicom Group, Inc.		564		51
ON Semiconductor Corp. (g)		1,241		85
ONEOK, Inc.		1,684		137
Oracle Corp.		4,830		682
O'Reilly Automotive, Inc. (g)		173		183
Otis Worldwide Corp.		1,172		113
Ovintiv, Inc.		772		36
Owens Corning		250		43
PACCAR, Inc.		1,503		155
Packaging Corp. of America		254		46
Palantir Technologies, Inc., Class A (g)		5,512		140
Palo Alto Networks, Inc. (g)		929		315
Paramount Global, Class B		1,562		16
Parker-Hannifin Corp.		370		187
Paychex, Inc.		937		111
Paycom Software, Inc.		153		22
Paylocity Holding Corp. (g)		132		17
PayPal Holdings, Inc. (g)		2,932		170
Pentair PLC		477		37
PepsiCo, Inc.		3,985		657

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
Pfizer, Inc.		16,402	$	459
PG&E Corp.		5,877		103
Philip Morris International, Inc.		4,496		456
Phillips 66		1,239		175
Pinterest, Inc., Class A (g)		1,730		76
PNC Financial Services Group, Inc.		1,148		178
Pool Corp.		112		34
PPG Industries, Inc.		681		86
PPL Corp.		2,132		59
Principal Financial Group, Inc.		679		53
Procter & Gamble Co.		6,862		1,132
Progressive Corp.		1,690		351
Prologis, Inc. REIT		2,648		297
Prudential Financial, Inc.		1,036		121
PTC, Inc. (g)		347		63
Public Service Enterprise Group, Inc.		1,435		106
Public Storage REIT		458		132
PulteGroup, Inc.		611		67
Pure Storage, Inc., Class A (g)		922		59
Qorvo, Inc. (g)		279		32
QUALCOMM, Inc.		3,371		671
Quanta Services, Inc.		425		108
Quest Diagnostics, Inc.		322		44
Raymond James Financial, Inc.		573		71
Realty Income Corp. REIT		2,486		131
Regency Centers Corp. REIT		510		32
Regeneron Pharmaceuticals, Inc. (g)		314		330
Regions Financial Corp.		2,648		53
Reliance, Inc.		167		48
Repligen Corp. (g)		152		19
Republic Services, Inc.		639		124
ResMed, Inc.		479		92
Revvity, Inc.		360		38
Rivian Automotive, Inc., Class A (g)		2,026		27
Robinhood Markets, Inc., Class A (g)		1,542		35
ROBLOX Corp., Class A (g)		1,378		51
Rockwell Automation, Inc.		330		91
Roku, Inc. (g)		368		22
Rollins, Inc.		842		41
Roper Technologies, Inc.		310		175
Ross Stores, Inc.		980		142
Royal Caribbean Cruises Ltd. (g)		698		111
Royalty Pharma PLC, Class A		1,091		29
RPM International, Inc.		377		41
RTX Corp.		3,836		385
S&P Global, Inc.		925		413
Salesforce, Inc.		2,844		731
Samsara, Inc., Class A (g)		593		20
SBA Communications Corp. REIT		313		61
Schlumberger NV		4,049		191
Seagate Technology Holdings PLC		582		60
SEI Investments Co.		321		21
Sempra		1,819		138
ServiceNow, Inc. (g)		602		474
Sherwin-Williams Co.		700		209
Simon Property Group, Inc. REIT		940		143
Skyworks Solutions, Inc.		467		50
Snap, Inc., Class A (g)		3,043		51
Snap-on, Inc.		153		40
Snowflake, Inc., Class A (g)		888		120
Solventum Corp. (g)		426		23
Southern Co.		3,153		245
Southwest Airlines Co.		433		12
SS&C Technologies Holdings, Inc.		643		40
Stanley Black & Decker, Inc.		444		35
Starbucks Corp.		3,320		258
State Street Corp.		873		65
Steel Dynamics, Inc.		441		57
Steris PLC		288		63
Stryker Corp.		998		340
Sun Communities, Inc. REIT		358		43
Super Micro Computer, Inc. (g)		161		132
Synchrony Financial		1,160		55
Synopsys, Inc. (g)		450		268
Sysco Corp.		1,436		103
T Rowe Price Group, Inc.		648		75
Take-Two Interactive Software, Inc. (g)		468		73
Targa Resources Corp.		610		79
Target Corp.		1,312		194
TE Connectivity Ltd.		895		135
Teledyne Technologies, Inc. (g)		138		54
Teleflex, Inc.		138		29
Teradyne, Inc.		448		66
Tesla, Inc. (g)		8,217		1,626
Texas Instruments, Inc.		2,654		516
Texas Pacific Land Corp.		58		43
Textron, Inc.		553		47
Thermo Fisher Scientific, Inc.		1,107		612
TJX Cos., Inc.		3,295		363
T-Mobile U.S., Inc.		1,549		273
Toast, Inc., Class A (g)		1,015		26
Toro Co.		305		29
Tractor Supply Co.		311		84
Trade Desk, Inc., Class A (g)		1,312		128
Tradeweb Markets, Inc., Class A		335		36
Trane Technologies PLC		654		215
TransDigm Group, Inc.		162		207
TransUnion		559		41
Travelers Cos., Inc.		663		135
Trimble, Inc. (g)		709		40
Truist Financial Corp.		3,823		149
Twilio, Inc., Class A (g)		502		29
Tyler Technologies, Inc. (g)		123		62
Tyson Foods, Inc., Class A		824		47
Uber Technologies, Inc. (g)		5,450		396
UDR, Inc. REIT		903		37
U-Haul Holding Co.		280		17

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio 

	Shares		Value (000)
United States (cont'd)
UiPath, Inc., Class A (g)		1,277	$	16
Ulta Beauty, Inc. (g)		140		54
Union Pacific Corp.		1,768		400
United Parcel Service, Inc., Class B		2,100		287
United Rentals, Inc.		194		125
United Therapeutics Corp. (g)		131		42
UnitedHealth Group, Inc.		2,675		1,362
Unity Software, Inc. (g)		778		13
Universal Health Services, Inc., Class B		175		32
US Bancorp		4,487		178
Valero Energy Corp.		951		149
Veeva Systems, Inc., Class A (g)		443		81
Ventas, Inc. REIT		1,173		60
Veralto Corp.		710		68
VeriSign, Inc. (g)		265		47
Verisk Analytics, Inc.		413		111
Verizon Communications, Inc.		12,146		501
Vertex Pharmaceuticals, Inc. (g)		751		352
Vertiv Holdings Co., Class A		1,076		93
Viatris, Inc.		3,411		36
VICI Properties, Inc. REIT		3,010		86
Visa, Inc., Class A		4,551		1,195
Vistra Corp.		1,001		86
Vulcan Materials Co.		385		96
W R Berkley Corp.		598		47
Walgreens Boots Alliance, Inc.		2,110		26
Walmart, Inc.		12,827		869
Walt Disney Co.		5,332		529
Warner Bros Discovery, Inc. (g)		6,733		50
Waste Connections, Inc.		749		131
Waste Management, Inc.		1,166		249
Waters Corp. (g)		172		50
Watsco, Inc.		97		45
WEC Energy Group, Inc.		909		71
Wells Fargo & Co.		10,147		603
Welltower, Inc. REIT		1,655		173
West Pharmaceutical Services, Inc.		216		71
Western Digital Corp. (g)		954		72
Westinghouse Air Brake Technologies Corp.		509		80
Westlake Corp.		111		16
Westrock Co.		757		38
Weyerhaeuser Co. REIT		2,117		60
Williams Cos., Inc.		3,502		149
Williams-Sonoma, Inc.		178		50
Willis Towers Watson PLC		298		78
Workday, Inc., Class A (g)		617		138
WP Carey, Inc. REIT		628		35
WW Grainger, Inc.		129		116
Wynn Resorts Ltd.		295		26
Xcel Energy, Inc.		1,600		85
Xylem, Inc.		702		95
Yum! Brands, Inc.		824		109
Zebra Technologies Corp., Class A (g)		148		46
Zillow Group, Inc., Class C (g)		459		21
Zimmer Biomet Holdings, Inc.		595		65
Zoetis, Inc.		1,322		229
Zoom Video Communications, Inc., Class A (g)		729		43
Zscaler, Inc. (g)		261		50
				138,371
Total Common Stocks (Cost $121,896)				217,426

	No. of Rights
Rights (0.0%)‡
Italy (0.0%)
Amplifon SpA, expires 7/9/24 (g)		585	—
United States (0.0%)‡
Contra Abiomed, Inc., expires 12/22/28 (g)		90	—@
Total Rights (Cost $—@)			—@

	No. of Warrants
Warrants (0.0%)
Canada (0.0%)
Constellation Software, Inc. expires 3/31/40 (g)  (Cost $—)		95	—

	Face Amount (000)
Short-Term Investments (17.4%)
U.S. Treasury Securities (2.8%)
U.S. Treasury Bill,
5.31%, 8/1/24 (i)	$	9,321	9,279
5.32%, 8/22/24 (i)		2,170	2,154
5.36%, 8/22/24 (i)		4,500	4,466
Total U.S. Treasury Securities (Cost $15,899)			15,899

	Shares
Investment Company (14.6%)
Morgan Stanley Institutional Liquidity Funds — Government Portfolio — Institutional Class, 5.22% (j)  (Cost $83,780)		83,779,654		83,780
Total Short-Term Investments (Cost $99,679)				99,679
Total Investments (100.0%) (Cost $491,213) (k)(l)(m)				570,956
Liabilities in Excess of Other Assets (–0.0%)‡				(196	)
Net Assets (100.0%)			$	570,760

Country assignments and aggregations are based generally on third party vendor classifications and information, and may be different from the assignments and aggregations under the policies set forth in the Fund’s prospectus and/or statement of additional information relating to geographic classifications.

@	Value is less than $500.
‡	Amount is less than 0.05%.
(a)	Security is subject to delayed delivery.
(b)	144A security — Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

(c)	Floating or variable rate securities: The rates disclosed are as of June 30, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description in the Consolidated Portfolio of Investments. Certain variable rate securities may not be based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description in the Consolidated Portfolio of Investments.
(d)	Multi-step — Coupon rate changes in predetermined increments to maturity. Rate disclosed is as of June 30, 2024. Maturity date disclosed is the ultimate maturity date.
(e)	Perpetual — One or more securities do not have a predetermined maturity date. Rates for these securities are fixed for a period of time after which they revert to a floating rate. Interest rates in effect are as of June 30, 2024.
(f)	When-issued security.
(g)	Non-income producing security.
(h)	At June 30, 2024, the Fund held a fair valued security at $0, representing 0.0% of net assets. This security has been fair valued using significant unobservable inputs as determined in good faith under procedures established by and under the general supervision of the Trust's (as defined herein) Trustees.
(i)	Rate shown is the yield to maturity at June 30, 2024.
(j)	The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended June 30, 2024, advisory fees paid were reduced by approximately $87,000 relating to the Fund's investment in the Liquidity Fund.
(k)	Securities are available for collateral in connection with purchase of when-issued security, securities purchased on a forward commitment basis, open foreign currency forward exchange contracts, futures contracts and swap agreements.
(l)	The approximate fair value and percentage of net assets, $68,991,000 and 12.1%, respectively, represent the securities that have been fair valued under the fair valuation policy for international investments as described in the Notes to Consolidated Portfolio of Investments.
(m)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $106,971,000 and the aggregate gross unrealized depreciation is approximately $24,581,000, resulting in net unrealized appreciation of approximately $82,390,000.
ADR	American Depositary Receipt.
CLO	Collateralized Loan Obligation.
CVA	Certificaten Van Aandelen.
DAC	Designated Activity Company.
EURIBOR	Euro Interbank Offered Rate.
LSE	London Stock Exchange.
MTN	Medium Term Note.
NYSE	New York Stock Exchange.
OAT	Obligations Assimilables du Trésor (French Treasury Obligation).
REIT	Real Estate Investment Trust.
SOFR	Secured Overnight Financing Rate.
SONIA	Sterling Overnight Index Average.
TBA	To Be Announced.
TSX	Toronto Stock Exchange.

Foreign Currency Forward Exchange Contracts:

The Fund had the following foreign currency forward exchange contracts open at June 30, 2024:            

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Delivery Date	Unrealized Appreciation (Depreciation) (000)
Australia & New Zealand Banking Group Ltd.	EUR	968	$	1,042	7/24/24	$	—@
Bank of America NA	CNH	3,537,979	$	490,021	9/19/24		3
Bank of America NA	GBP	649,022	$	808,105	7/24/24		(12	)
Bank of America NA	GBP	96,490	$	120,509	7/24/24		(1	)
Bank of America NA	PLN	251,986	$	62,306	9/19/24		(—@	)
Bank of America NA	$	318,713	CAD	436,646	7/24/24		1
Bank of America NA	$	111,411	ILS	412,788	9/19/24		(2	)
Bank of America NA	$	3,946	JPY	614,104	9/19/24		(—@	)
Bank of New York Mellon	$	12,996	DKK	89,813	9/19/24		(—@	)
Barclays Bank PLC	AUD	6,496	$	4,333	9/19/24		(—@	)
Barclays Bank PLC	EUR	195,465	$	209,397	7/24/24		(—@	)
Barclays Bank PLC	HKD	3,173	$	407	9/19/24		—@
Barclays Bank PLC	TRY	12,070,112	$	225,969	4/6/26		9
Barclays Bank PLC	$	2,490,637	EUR	2,309,674	9/19/24		(8	)
Barclays Bank PLC	$	726,724	EUR	675,209	9/19/24		(1	)
Barclays Bank PLC	$	18,360	ILS	68,050	9/19/24		(—@	)
Barclays Bank PLC	$	8,441	JPY	1,313,646	9/19/24		(—@	)
Barclays Bank PLC	$	38,032	MXN	676,938	7/24/24		(1	)
Barclays Bank PLC	$	311,475	MXN	5,830,466	9/19/24		3

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Foreign Currency Forward Exchange Contracts: (cont'd)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Delivery Date	Unrealized Appreciation (Depreciation) (000)
Barclays Bank PLC	$	5,614	PLN	22,750	7/24/24	$	—@
Barclays Bank PLC	$	443,574	SEK	4,832,229	7/24/24		13
Barclays Bank PLC	$	2,051,053	TRY	119,022,580	4/6/26		89
BNP Paribas SA	AUD	429,444	$	277,858	7/24/24		(9	)
BNP Paribas SA	AUD	7,054	$	4,704	9/19/24		(—@	)
BNP Paribas SA	BRL	33,474,315	$	6,125,386	9/19/24		190
BNP Paribas SA	CNH	1,335,590	$	184,949	9/19/24		1
BNP Paribas SA	EUR	293,010	$	319,335	7/24/24		5
BNP Paribas SA	HKD	214,710	$	27,568	9/19/24		—@
BNP Paribas SA	HUF	73,613,697	$	199,630	7/24/24		—@
BNP Paribas SA	IDR	9,656,048,600	$	592,621	7/24/24		3
BNP Paribas SA	IDR	283,917,275	$	17,426	9/19/24		—@
BNP Paribas SA	THB	4,257,197	$	116,027	7/24/24		(—@	)
BNP Paribas SA	$	277,730	BRL	1,565,010	9/19/24		(—@	)
BNP Paribas SA	$	999,808	CHF	900,097	7/24/24		5
BNP Paribas SA	$	80,529	CLP	74,030,514	9/17/24		(2	)
BNP Paribas SA	$	28,964	COP	114,380,000	7/24/24		(2	)
BNP Paribas SA	$	58,329	COP	242,881,489	9/19/24		(1	)
BNP Paribas SA	$	1,092	EUR	1,019	7/24/24		—@
BNP Paribas SA	$	4,756,468	EUR	4,411,928	9/19/24		(14	)
BNP Paribas SA	$	359,313	EUR	334,500	9/19/24		—@
BNP Paribas SA	$	262,378	HUF	96,818,218	7/24/24		(—@	)
BNP Paribas SA	$	719,826	IDR	11,828,898,220	7/24/24		2
BNP Paribas SA	$	2,883,161	INR	241,493,595	9/19/24		6
BNP Paribas SA	$	170,923	JPY	26,608,617	9/19/24		(4	)
BNP Paribas SA	$	9,687	JPY	1,548,717	7/24/24		(—@	)
BNP Paribas SA	$	2,676,583	MXN	50,138,331	9/19/24		31
BNP Paribas SA	$	111,424	PEN	411,443	7/24/24		(4	)
Citibank NA	$	9,914	CZK	228,953	9/19/24		(—@	)
Citibank NA	$	51,333	ILS	190,250	9/19/24		(1	)
Citibank NA	$	88,110	NOK	960,145	7/24/24		2
Goldman Sachs International	MXN	4,882,544	$	283,458	7/24/24		17
Goldman Sachs International	MYR	54,192	$	11,571	9/19/24		—@
Goldman Sachs International	NOK	583,174	$	55,162	9/19/24		—@
Goldman Sachs International	NZD	11,239	$	6,905	9/19/24		—@
Goldman Sachs International	TRY	101,428,691	$	2,396,708	12/23/24		(197	)
Goldman Sachs International	TWD	659,775	$	20,522	9/19/24		—@
Goldman Sachs International	$	12,036	CZK	277,842	9/19/24		(—@	)
Goldman Sachs International	$	13,522,797	JPY	2,063,806,027	7/24/24		(652	)
Goldman Sachs International	$	14,222	JPY	2,213,568	9/19/24		(—@	)
Goldman Sachs International	$	436,630	JPY	68,098,630	9/19/24		(8	)
Goldman Sachs International	$	1,736,855	MXN	32,506,969	9/19/24		18
Goldman Sachs International	$	127,167	PLN	512,541	7/24/24		—@
Goldman Sachs International	$	99,745	SEK	1,036,997	9/19/24		(2	)
Goldman Sachs International	$	2,592,095	TRY	101,428,691	12/23/24		2
Goldman Sachs International	$	2,182,534	TRY	125,604,824	4/6/26		76
Goldman Sachs International	$	2,125,693	TRY	115,743,984	4/6/26		(44	)
Goldman Sachs International	$	2,488,780	TRY	138,500,580	4/6/26		2
JPMorgan Chase Bank NA	CAD	318,976	$	232,964	9/19/24		(1	)
JPMorgan Chase Bank NA	DKK	478,419	$	68,944	7/24/24		—@
JPMorgan Chase Bank NA	EUR	170,000	$	182,309	7/24/24		—@
JPMorgan Chase Bank NA	HKD	201,814	$	25,912	9/19/24		—@
JPMorgan Chase Bank NA	NOK	446,572	$	42,239	9/19/24		—@
JPMorgan Chase Bank NA	NZD	247,911	$	152,239	9/19/24		1

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Foreign Currency Forward Exchange Contracts: (cont'd)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Delivery Date	Unrealized Appreciation (Depreciation) (000)
JPMorgan Chase Bank NA	SGD	211,017	$	156,833	9/19/24	$	1
JPMorgan Chase Bank NA	$	408,163	CAD	558,791	7/24/24		1
JPMorgan Chase Bank NA	$	68,623	CHF	60,049	9/19/24		(1	)
JPMorgan Chase Bank NA	$	100,906	CLP	96,240,000	7/24/24		1
JPMorgan Chase Bank NA	$	2,972,971	CNY	21,206,204	7/24/24		(48	)
JPMorgan Chase Bank NA	$	63,714	DKK	440,279	9/19/24		(—@	)
JPMorgan Chase Bank NA	$	50,012	GBP	40,116	7/24/24		1
JPMorgan Chase Bank NA	$	187,523	GBP	147,474	9/19/24		(1	)
JPMorgan Chase Bank NA	$	18,766	ILS	69,542	9/19/24		(—@	)
JPMorgan Chase Bank NA	$	1,206,953	MXN	22,628,857	9/19/24		15
JPMorgan Chase Bank NA	$	265,984	MXN	4,934,902	9/19/24		1
JPMorgan Chase Bank NA	$	135,650	RON	631,531	7/24/24		—@
JPMorgan Chase Bank NA	$	220,948	SEK	2,379,759	7/24/24		4
JPMorgan Chase Bank NA	$	31,948	SEK	332,182	9/19/24		(—@	)
JPMorgan Chase Bank NA	$	107,718	SGD	146,026	7/24/24		—@
JPMorgan Chase Bank NA	$	14,690	THB	541,479	7/24/24		—@
Standard Chartered Bank	NZD	13,200	$	8,104	9/19/24		—@
State Street Bank and Trust Co.	$	183,696	EUR	170,893	9/19/24		—@
State Street Bank and Trust Co.	$	108,001	SEK	1,123,369	9/19/24		(2	)
UBS AG	AUD	10,136	$	6,761	9/19/24		(—@	)
UBS AG	CAD	26,861	$	19,620	9/19/24		(—@	)
UBS AG	CNY	12,510,000	$	1,760,360	7/24/24		35
UBS AG	CNY	29,516,879	$	4,152,102	9/19/24		17
UBS AG	CNY	64,802,928	$	9,076,930	9/19/24		(2	)
UBS AG	COP	602,165,000	$	151,340	7/24/24		7
UBS AG	EUR	3,151,173	$	3,382,466	7/24/24		4
UBS AG	EUR	111,720	$	121,873	7/24/24		2
UBS AG	EUR	167,763	$	179,237	7/24/24		(1	)
UBS AG	HKD	365,732	$	46,955	9/19/24		—@
UBS AG	JPY	140,044,793	$	916,408	7/24/24		43
UBS AG	JPY	239,584,237	$	1,538,843	7/24/24		45
UBS AG	KRW	3,010,549,950	$	2,202,917	9/19/24		6
UBS AG	THB	713,693	$	19,576	9/19/24		—@
UBS AG	TRY	457,638	$	12,786	9/19/24		(—@	)
UBS AG	$	34,186	AUD	52,237	7/24/24		1
UBS AG	$	76,159	CHF	66,625	9/19/24		(1	)
UBS AG	$	1,560,104	CNY	11,090,000	7/24/24		(30	)
UBS AG	$	2,700,862	EUR	2,511,470	9/19/24		(1	)
UBS AG	$	295,676	GBP	232,541	9/19/24		(2	)
UBS AG	$	12,887	HUF	4,751,041	9/19/24		(—@	)
UBS AG	$	215,164	JPY	34,118,264	9/19/24		(1	)
UBS AG	$	2,196,871	KRW	3,014,239,394	7/24/24		(4	)
UBS AG	$	1,286,679	MXN	24,089,517	9/19/24		14
UBS AG	$	307,022	NZD	517,468	7/24/24		8
UBS AG	ZAR	1,081,726	$	59,540	9/19/24		—@
						$	(375	)

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Futures Contracts:

The Fund had the following futures contracts open at June 30, 2024:    

	Number of Contracts	Expiration Date	Notional Amount (000)			Value (000)			Unrealized Appreciation (Depreciation) (000)
Long:
CME Bitcoin Index (United States)	3	Jul-24	$	—@		$	905		$	10
Euro-Buxl 30 yr. Bond Index (Germany)	6	Sep-24	EUR	600			837			21
German Euro-Schatz Index (Germany)	90	Sep-24		9,000			10,188			45
ICE Brent Crude Oil Index (United States)	21	Jul-24	$	21			1,785			13
IFSC NIFTY 50 Index (United States)	58	Jul-24		—@			2,800			47
KFE 10 yr. Treasury Bond Index (Korea, Republic of)	33	Sep-24	KRW	3,300,000			2,748			11
SGX MSCI Singapore Index (Singapore)	1	Jul-24	SGD	—@			23			—@
U.S. Treasury 2 yr. Note (United States)	10	Sep-24	$	2,000			2,042			6
U.S. Treasury 5 yr. Note (United States)	92	Sep-24		9,200			9,805			87
U.S. Treasury 10 yr. Note (United States)	119	Sep-24		11,900			13,088			75
U.S. Treasury 10 yr. Ultra Note (United States)	128	Sep-24		12,800			14,532			140
U.S. Treasury Long Bond (United States)	17	Sep-24		1,700			2,011			41
Short:
COMEX Gold 100 OZ (United States)	19	Aug-24		(2	)		(4,445	)		56
Euro Stoxx 50 Index (Germany)	97	Sep-24	EUR	(1	)		(5,117	)		22
FTSE 100 Index (United Kingdom)	1	Sep-24	GBP	(—@	)		(104	)		(—@	)
German Euro-Bobl Index (Germany)	2	Sep-24	EUR	(200	)		(249	)		(2	)
German Euro-BTP Index (Germany)	38	Sep-24		(3,800	)		(4,692	)		67
German Euro-Bund Index (Germany)	71	Sep-24		(7,100	)		(10,008	)		(119	)
Hang Seng China Enterprises Index (Hong Kong)	106	Jul-24	HKD	(5	)		(4,252	)		77
KFE KOSPI 200 Index (Korea, Republic of)	32	Sep-24	KRW	(8,000	)		(2,245	)		(99	)
MSCI Emerging Market EMEA Index (United States)	96	Sep-24	$	(5	)		(5,223	)		41
Nikkei 225 Index (Japan)	5	Sep-24	JPY	(3	)		(618	)		(7	)
S&P 500 E Mini Index (United States)	30	Sep-24	$	(2	)		(8,282	)		(4	)
S&P/TSX 60 Index (Canada)	2	Sep-24	CAD	(—@	)		(383	)		(3	)
SFE 10 yr. Australian Bond Index (Australia)	14	Sep-24	AUD	(1,400	)		(1,061	)		(1	)
TSE Japanese 10 yr. Bond Index (Japan)	30	Sep-24	JPY	(3,000,000	)		(26,638	)		18
U.S. Treasury 5 yr. Note (United States)	17	Sep-24	$	(1,700	)		(1,812	)		(12	)
U.S. Treasury 10 yr. Note (United States)	3	Sep-24		(300	)		(330	)		(5	)
U.S. Treasury 10 yr. Ultra Note (United States)	29	Sep-24		(2,900	)		(3,293	)		(7	)
U.S. Treasury Ultra Long Bond (United States)	15	Sep-24		(1,500	)		(1,880	)		(47	)
									$	471

Centrally Cleared Interest Rate Swap Agreements: 

The Fund had the following centrally cleared interest rate swap agreements open at June 30, 2024:

Swap Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Fixed Rate		Payment Frequency Paid/ Received	Maturity Date	Notional Amount (000)		Value (000)			Upfront Payment Paid (000)		Unrealized Appreciation (Depreciation) (000)
Morgan Stanley & Co. LLC	1 Month CNRR	Pay	2.38	%	Quarterly/ Quarterly	11/3/28	CNY	54,609	$	148		$	—	$	148
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.17		Maturity/ Maturity	1/15/34	EUR	4,378		(9	)		—		(9	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.17		Maturity/ Maturity	1/15/34		4,739		(10	)		—		(10	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.17		Maturity/ Maturity	1/15/34		4,378		(9	)		—		(9	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.17		Maturity/ Maturity	1/15/34		3,502		(7	)		—		(7	)

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Centrally Cleared Interest Rate Swap Agreements: (cont'd) 

Swap Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Fixed Rate		Payment Frequency Paid/ Received	Maturity Date	Notional Amount (000)		Value (000)			Upfront Payment Paid (000)		Unrealized Appreciation (Depreciation) (000)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.17	%	Maturity/ Maturity	1/15/34		4,378	$	(9	)	$	—	$	(9	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.18		Maturity/ Maturity	1/15/34		4,378		(5	)		—		(5	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.42		Maturity/ Maturity	1/15/54		1,578		(24	)		—		(24	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.42		Maturity/ Maturity	1/15/54		1,578		(24	)		—		(24	)
Morgan Stanley & Co. LLC	Euro-stat Eurozone HICP ex Tobacco Index	Pay	2.42		Maturity/ Maturity	1/15/54		1,554		(25	)		—		(25	)
									$	26		$	—	$	26

Total Return Swap Agreements: 

The Fund had the following total return swap agreements open at June 30, 2024:    

Swap Counterparty	Index	Pay/ Receive Total Return of Reference Index	Floating Rate	Payment Frequency	Maturity Date	Notional Amount (000)		Value (000)			Upfront Payment Paid (000)		Unrealized Appreciation (Depreciation) (000)
Bank of America NA	MSCI USA Index	Pay	SOFR + 0.45%	Quarterly	7/16/24	$	24,932	$	1,365		$	—	$	1,365
Barclays Bank PLC	MSCI Emerging Markets ex China Gross Return USD Index	Receive	SOFR + 0.56%	Quarterly	5/29/25		11,527		(198	)		—		(198	)
Barclays Bank PLC	MSCI Japan Net Total Return USD Index	Pay	SOFR + 0.14%	Quarterly	2/11/25		17,117		40			—		40
Barclays Bank PLC	MSCI USA Index	Pay	SOFR + 0.47%	Quarterly	10/4/24		4,247		157			—		157
BNP Paribas SA	BNP EM Value Index††	Pay	SOFR + 0.55%	Quarterly	5/22/25		8,876		60			—		60
BNP Paribas SA	BNP EMU Anti-Value Index††	Receive	ESTR + 0.02%	Quarterly	9/18/24	EUR	7,653		271			—		271
BNP Paribas SA	BNP EMU Anti-Value Quality Index††	Receive	ESTR + 0.02%	Quarterly	9/18/24		10,117		319			—		319
BNP Paribas SA	BNP EMU Value Index††	Pay	ESTR + 0.35%	Quarterly	9/18/24		7,604		(250	)		—		(250	)
BNP Paribas SA	BNP EMU Value Quality Index††	Pay	ESTR + 0.35%	Quarterly	9/18/24		10,061		(274	)		—		(274	)
BNP Paribas SA	EMU Domestics Index††	Pay	ESTR + 0.21%	Quarterly	1/15/25		3,368		(183	)		—		(183	)
BNP Paribas SA	EMU Domestics Index††	Pay	ESTR + 0.21%	Quarterly	1/15/25		3,102		(169	)		—		(169	)
BNP Paribas SA	EMU Domestics Index††	Pay	ESTR + 0.21%	Quarterly	1/15/25		2,939		(138	)		—		(138	)
BNP Paribas SA	U.S. Domestics Index††	Receive	SOFR + 0.38%	Quarterly	1/15/25	$	2,729		14			—		14
BNP Paribas SA	U.S. Domestics Index††	Receive	SOFR + 0.38%	Quarterly	1/15/25		3,141		40			—		40
BNP Paribas SA	U.S. Domestics Index††	Receive	SOFR + 0.38%	Quarterly	1/15/25		3,847		8			—		8
Goldman Sachs International	MSCI Emerging Markets Net Total Return Index	Pay	SOFR + 0.00%	Quarterly	1/28/25		34,796		1,646			—		1,646
JPMorgan Chase Bank NA	Japan Growth Index††	Receive	SOFR + 0.19%	Quarterly	6/17/25		4,458		57			—		57
JPMorgan Chase Bank NA	Japan Value Index††	Pay	SOFR + 0.00%	Quarterly	6/17/25		4,360		(36	)		—		(36	)
JPMorgan Chase Bank NA	Korea Value Index	Pay	SOFR + 0.16%	Quarterly	6/17/25		2,227		53			—		53
JPMorgan Chase Bank NA	MSCI Japan Net Total Return USD Index	Pay	SOFR + 0.18%	Quarterly	10/8/24		1,541		(64	)		—		(64	)
UBS AG	MSCI USA Index	Pay	SOFR + 0.46%	Quarterly	9/24/24		62,812		(193	)		—		(193	)
								$	2,525		$	—	$	2,525

†† See tables below for details of the equity basket holdings underlying the swaps.

The following table represents the equity basket top 50 individual holdings underlying the total return swap with BNP EM Value Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EM Value Index
Absa Group Ltd.		1,395	$	12		0.00	%‡
Akbank T.A.S.		4,919		10		0.00	‡
Alpha Services and Holdings		3,793		6		0.00	‡
Ambev SA		7,346		15		0.00	‡
Arca Continental SAB de CV		802		8		0.00	‡
ASE Technology Holding Co. Ltd.		7,963		41		0.01
Astra International Tbk. PT		26,231		7		0.00	‡
Banco Do Brasil SA		2,888		14		0.00	‡
Bancolombia SA		787		6		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EM Value Index (cont'd)
Bank Pekao SA		304	$	13		0.00	%‡
Bidvest Group Ltd.		374		6		0.00	‡
Cemex SAB-CPO		15,551		10		0.00	‡
Cia Energetica Minas Ger		3,584		6		0.00	‡
Commercial Bank PSQC		5,285		6		0.00	‡
Compal Electronics		10,892		12		0.00	‡
DB Insurance Co. Ltd.		85		7		0.00	‡
Dubai Islamic Bank		5,947		9		0.00	‡
Emaar Properties PJSC		3,523		8		0.00	‡
Emirates NBD PJSC		2,649		12		0.00	‡
Eurobank Ergasias Services and Holdings SA		4,360		9		0.00	‡
Globalwafers Co. Ltd.		715		12		0.00	‡
Hana Financial Group		498		22		0.00	‡
Hon Hai Precision Industry		32,361		213		0.04
Hyundai Mobis Co. Ltd.		57		10		0.00	‡
Itausa SA		9,035		16		0.00	‡
Kia Corp.		229		21		0.00	‡
Koc Holding AS		970		7		0.00	‡
Largan Precision Co. Ltd.		291		25		0.00	‡
LG Electronics, Inc.		101		8		0.00	‡
LG Innotek Co. Ltd.		39		8		0.00	‡
Lite-On Technology Corp.		4,785		16		0.00	‡
Micro-Star International Co.		1,764		10		0.00	‡
National Bank of Greece		1,295		11		0.00	‡
Nedbank Group Ltd.		721		10		0.00	‡
OTP Bank PLC		366		18		0.00	‡
Pegatron Corp.		5,369		17		0.00	‡
Petroleo Brasileiro SA		4,041		29		0.01
Richter Gedeon Nyrt		276		7		0.00	‡
Samsung C&T Corp.		118		12		0.00	‡
Samsung Electro-Mechanics Co.		152		17		0.00	‡
Samsung SDS Co. Ltd.		100		11		0.00	‡
Shinhan Financial Group Ltd.		728		25		0.00	‡
Suzano SA		835		9		0.00	‡
Telefonica Brasil SA		754		6		0.00	‡
Telkom Indonesia Persero Tbk. PT		91,692		18		0.00	‡
Turk Hava Yollari AO		722		7		0.00	‡
Turkiye Is Bankasi - Class C		14,091		7		0.00	‡
Vale SA		3,488		39		0.01
Woori Financial Group, Inc.		1,007		11		0.00	‡
Zhen Ding Technology Holding Ltd.		1,799		7		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with BNP EMU Anti-Value Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Anti-Value Index
Adidas AG		100	$	22		0.00	%‡
Adyen NV		20		22		0.00	‡
Air Liquide SA		162		26		0.00	‡
Amplifon SpA		666		22		0.00	‡
Argenx SE		64		26		0.00	‡
ASM International NV		33		23		0.00	‡
BE Semiconductor Industries NV		142		22		0.00	‡
Beiersdorf AG		183		25		0.00	‡
CTS Eventim AG & Co. KGaA		321		25		0.00	‡
Davide Campari-Milano NV		2,734		24		0.00	‡
Delivery Hero SE		794		18		0.00	‡
Deutsche Boerse AG		134		26		0.00	‡
Edenred		579		23		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Anti-Value Index (cont'd)
EDP Renovaveis SA		1,641	$	21		0.00	%‡
Euronext NV		265		23		0.00	‡
Ferrari NV		59		22		0.00	‡
Ferrovial SE		679		25		0.00	‡
Finecobank SpA		1,704		24		0.00	‡
Gecina SA		207		18		0.00	‡
Getlink SE		1,530		24		0.00	‡
Hannover Rueck SE		106		25		0.00	‡
Hermes International		10		22		0.00	‡
Inpost SA		1,450		24		0.00	‡
L'Oreal		59		24		0.00	‡
Lotus Bakeries		1		10		0.00	‡
Moncler SpA		381		22		0.00	‡
MTU Aero Engines AG		107		25		0.00	‡
Muenchener Rueckver AG - Reg		53		25		0.00	‡
OCI NV		622		14		0.00	‡
Prosus NV		658		22		0.00	‡
Rational AG		12		9		0.00	‡
Redeia Corp SA		1,347		22		0.00	‡
Rheinmetall AG		48		23		0.00	‡
Sampo OYJ - Class A		616		25		0.00	‡
Sartorius AG		94		21		0.00	‡
Sartorius Stedim Biotech		126		19		0.00	‡
Schneider Electric SE		106		24		0.00	‡
Scout24 SE		233		17		0.00	‡
Sofina SA		40		9		0.00	‡
Symrise AG		240		27		0.00	‡
Terna-Rete Elettrica Naziona		2,988		22		0.00	‡
Universal Music Group NV		889		25		0.00	‡
Warehouses De Pauw SCA		118		3		0.00	‡
Wolters Kluwer NV		162		25		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with BNP EMU Anti-Value Quality Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Anti-Value Quality Index
Accor SA		572	$	22		0.00	%‡
Adidas AG		97		22		0.00	‡
ADP		138		16		0.00	‡
Adyen NV		21		24		0.00	‡
Airbus SE		6		.75		0.00	‡
Argenx SE		62		25		0.00	‡
Asm International NV		32		23		0.00	‡
BE Semiconductor Industries NV		138		22		0.00	‡
Beiersdorf AG		235		32		0.01
Bollore SE		1,054		6		0.00	‡
CTS Eventim AG & Co. KgaA		172		13		0.00	‡
Davide Campari-Milano NV		3,501		31		0.01
Delivery Hero SE		772		17		0.00	‡
Deutsche Boerse AG		142		27		0.00	‡
Edenred		614		24		0.00	‡
EDP Renovaveis SA		1,460		19		0.00	‡
EDP-Energias De Portugal SA		9,757		34		0.01
Elia Group SA		107		9		0.00	‡
Eurazeo SE		29		2		0.00	‡
Euronext NV		257		22		0.00	‡
Ferrari NV		57		22		0.00	‡
Ferrovial SE		730		26		0.00	‡
Galp Energia SGPS SA		1,170		23		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Anti-Value Quality Index (cont'd)
Gecina SA		158	$	14		0.00	%‡
Getlink SE		1,291		20		0.00	‡
Groupe Bruxelles Lambert NV		157		10		0.00	‡
Hannover Rueck SE		112		26		0.00	‡
Hermes International		10		22		0.00	‡
Infrastrutture Wireless Italiane SpA		2,020		20		0.00	‡
Inpost SA		1,507		25		0.00	‡
LEG Immobilien SE		93		7		0.00	‡
Lotus Bakeries		1		8		0.00	‡
MTU Aero Engines AG		115		27		0.00	‡
Nexi SpA		4,354		25		0.00	‡
OCI NV		474		11		0.00	‡
Prosus NV		640		21		0.00	‡
Rational AG		9		7		0.00	‡
Remy Cointreau SA		145		11		0.00	‡
Rheinmetall AG		52		25		0.00	‡
Sampo OYJ - Class A		653		26		0.00	‡
Sartorius AG		91		20		0.00	‡
Sartorius Stedim Biotech		122		19		0.00	‡
Scout24 SE		178		13		0.00	‡
Siemens Energy AG		1,120		27		0.00	‡
Sofina SA		31		7		0.00	‡
Stora Enso OYJ - Class R		2,156		28		0.00	‡
Symrise AG		247		28		0.00	‡
UCB SA		163		23		0.00	‡
Vivendi SE		1,398		14		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with BNP EMU Value Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Value Index
ABN AMRO Bank NV - CVA		1,400	$	21		0.00	%‡
AIB Group PLC		4,476		22		0.00	‡
ArcelorMittal SA		1,199		26		0.00	‡
Banco BPM SpA		3,561		21		0.00	‡
Banco Santander SA		4,862		21		0.00	‡
Bank Of Ireland Group PLC		2,213		22		0.00	‡
Bayer AG - Reg		797		21		0.00	‡
Bayerische Motoren Werke AG		288		25		0.00	‡
Bayerische Motoren Werke AG (Preference)		209		17		0.00	‡
Bouygues SA		693		21		0.00	‡
Carrefour SA		2,034		27		0.00	‡
Commerzbank AG		1,500		21		0.00	‡
Covivio		304		13		0.00	‡
Daimler Truck Holding AG		577		21		0.00	‡
Deutsche Bank AG - Registered		1,485		22		0.00	‡
Deutsche Lufthansa - Reg		3,647		21		0.00	‡
Deutsche Telekom AG - Reg		964		23		0.00	‡
DHL Group		562		21		0.00	‡
Eiffage		244		21		0.00	‡
Enel SpA		3,306		21		0.00	‡
Engie SA		1,591		21		0.00	‡
Erste Group Bank AG		496		22		0.00	‡
Fortum OYJ		1,536		21		0.00	‡
Fresenius Medical Care AG		559		20		0.00	‡
Fresenius SE & Co. KGaA		727		20		0.00	‡
Grifols SA		2,350		18		0.00	‡
Heidelberg Materials AG		274		27		0.00	‡
JDE Peet's NV		537		10		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Value Index (cont'd)
Kesko OYJ - Class B		1,045	$	17		0.00	%‡
Klepierre SA		288		7		0.00	‡
Koninklijke Ahold Delhaize NV		1,064		29		0.01
Mercedes-Benz Group AG		400		26		0.00	‡
Nokia OYJ		6,209		22		0.00	‡
Orange SA		2,302		22		0.00	‡
Randstad NV		470		20		0.00	‡
Rexel SA		822		20		0.00	‡
Stellantis NV		1,292		24		0.00	‡
Stmicroelectronics NV		531		20		0.00	‡
Telefonica SA		5,250		21		0.00	‡
Teleperformance		221		22		0.00	‡
Unicredit SpA		621		21		0.00	‡
Voestalpine AG		469		12		0.00	‡
Volkswagen AG		96		11		0.00	‡
Volkswagen AG		241		25		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with BNP EMU Value Quality Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Value Quality Index
ABN AMRO Bank NV - CVA		1,383	$	21		0.00	%‡
Agea SA		500		21		0.00	‡
AIB Group PLC		4,421		22		0.00	‡
ArcelorMittal SA		965		21		0.00	‡
Banco Bilbao Vizcaya Argenta		2,340		22		0.00	‡
Banco Santander SA		4,803		21		0.00	‡
Bank Of Ireland Group PLC		2,186		21		0.00	‡
Bayer AG - Reg		787		21		0.00	‡
Bayerische Motoren Werke AG		272		24		0.00	‡
Bouygues SA		684		21		0.00	‡
Capgemini SE		114		21		0.00	‡
Carrefour SA		1,659		22		0.00	‡
Compagnie De Saint Gobain		282		20		0.00	‡
Covivio		236		10		0.00	‡
Daimler Truck Holding AG		570		21		0.00	‡
Deutsche Bank AG - Registered		1,467		22		0.00	‡
Deutsche Telekom AG - Reg		952		22		0.00	‡
Eiffage		241		21		0.00	‡
Enel SpA		3,266		21		0.00	‡
Engie		1,571		21		0.00	‡
Erste Group Bank AG		490		22		0.00	‡
Fortum OYJ		1,517		21		0.00	‡
Fresenius Medical Care AG		552		20		0.00	‡
Fresenius SE & Co. KGaA		718		20		0.00	‡
Heidelberg Materials AG		220		21		0.00	‡
Jeronimo Martins		1,239		23		0.00	‡
Kesko OYJ - Class B		810		13		0.00	‡
Klepierre		399		10		0.00	‡
Koninklijke Ahold Delhaize NV		868		24		0.00	‡
Mercedes-Benz Group AG		377		24		0.00	‡
Michelin		630		23		0.00	‡
Nokia OYJ		6,134		22		0.00	‡
Orange SA		2,274		21		0.00	‡
Publicis Groupe SA		212		21		0.00	‡
Randstad NV		464		20		0.00	‡
Rexel SA		812		20		0.00	‡
Sanofi SA		244		22		0.00	‡
Smurfit Kappa Group PLC		510		21		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
BNP EMU Value Quality Index (cont'd)
Stellantis NV		1,220	$	23		0.00	%‡
Teleperformance		218		21		0.00	‡
Tenaris SA		1,469		21		0.00	‡
Unicredit SpA		614		21		0.00	‡
Vinci SA		213		21		0.00	‡
Volkswagen AG		75		8		0.00	‡
Volkswagen AG		227		24		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with EMU Domestics Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
EMU Domestics Index
ADP		249	$	28		0.00	%‡
Aena SME SA		263		49		0.01
Basic-Fit NV		326		7		0.00	‡
Bechtle AG		477		21		0.00	‡
Bouygues SA		957		29		0.01
Capgemini SE		406		75		0.01
Compagnie De Saint Gobain		1,181		86		0.02
Deutsche Lufthansa - Reg		3,894		22		0.00	‡
D'Ieteren Group		134		27		0.00	‡
Eiffage		356		31		0.01
Exclusive Networks SA		89		2		0.00	‡
Fraport Ag Frankfurt Airport		313		15		0.00	‡
Getlink SE		1,986		31		0.01
Indra Sistemas SA		958		18		0.00	‡
Industria de Diseno Textil SA		2,512		116		0.02
Iveco Group NV		2,828		30		0.01
Kingspan Group PLC		577		46		0.01
La Francaise des Jeux SAEM		504		16		0.00	‡
Prosiebensat.1 Media SE		1,885		12		0.00	‡
Randstad NV		627		27		0.00	‡
Rheinmetall AG		150		71		0.01
Scout24 SE		461		33		0.01
Smurfit Kappa Group PLC		1,090		45		0.01
Stora Enso OYJ - Class R		2,879		37		0.01
Vinci SA		1,089		107		0.02
Vivendi SE		3,420		33		0.01
Zalando SE		1,570		34		0.01

The following table represents the equity basket top 50 individual holdings underlying the total return swap with U.S. Domestics Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
U.S. Domestics Index
Arista Networks, Inc.		66	$	23		0.00	%‡
Automatic Data Processing		105		25		0.00	‡
Autozone, Inc.		5		13		0.00	‡
CDW Corp.		34		8		0.00	‡
Charter Communications, Inc. - Class A		25		8		0.00	‡
Cintas Corp.		23		16		0.00	‡
Cognizant Tech Solutions - Class A		128		9		0.00	‡
Comcast Corp. - Class A		1,047		41		0.01
Copart, Inc.		215		12		0.00	‡
Crowdstrike Holdings, Inc. - Class A		53		20		0.00	‡
CSX Corp.		507		17		0.00	‡
Datadog, Inc. - Class A		64		8		0.00	‡
Doordash, Inc. - Class A		61		7		0.00	‡
DR Horton, Inc.		76		11		0.00	‡
Equifax, Inc.		31		8		0.00	‡

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

Security Description	Shares		Value (000)		Percentage of Net Assets
U.S. Domestics Index (cont'd)
Fair Isaac Corp.		6	$	9		0.00	%‡
Fastenal Co.		143		9		0.00	‡
Fedex Corp.		60		18		0.00	‡
Hilton Worldwide Holdings, Inc.		66		14		0.00	‡
Home Depot, Inc.		247		85		0.01
Lennar Corp. - Class A		61		9		0.00	‡
Lowe's Cos, Inc.		144		32		0.01
Lululemon Athletica, Inc.		30		9		0.00	‡
Marriott International - Class A		64		16		0.00	‡
Martin Marietta Materials		16		8		0.00	‡
Norfolk Southern Corp.		58		12		0.00	‡
NVR, Inc.		1		6		0.00	‡
Old Dominion Freight Line		50		9		0.00	‡
O'Reilly Automotive, Inc.		15		16		0.00	‡
Pinterest Inc- Class A		146		6		0.00	‡
Quanta Services, Inc.		37		9		0.00	‡
Republic Services, Inc.		56		11		0.00	‡
Roper Technologies, Inc.		27		15		0.00	‡
Ross Stores, Inc.		85		12		0.00	‡
Sherwin-Williams Co.		62		18		0.00	‡
Snowflake, Inc. - Class A		70		10		0.00	‡
Starbucks Corp.		292		23		0.00	‡
TJX Companies, Inc.		286		31		0.01
Tractor Supply Company		28		8		0.00	‡
Trane Technologies PLC		57		19		0.00	‡
Union Pacific Corp.		155		35		0.01
United Parcel Service - Class B		182		25		0.00	‡
United Rentals, Inc.		17		11		0.00	‡
Verisk Analytics, Inc.		36		10		0.00	‡
Vulcan Materials Co.		33		8		0.00	‡
Walt Disney Co.		475		47		0.01
Waste Connections, Inc.		65		11		0.00	‡
Waste Management, Inc.		102		22		0.00	‡
Workday, Inc. - Class A		52		12		0.00	‡
WW Grainger, Inc.		11		10		0.00	‡

The following table represents the equity basket holdings underlying the total return swap with Japan Growth Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
Japan Growth Index
Advantest Corp.		74,913	$	2,992		0.52	%
ASICS Corp.		177,889		2,722		0.48
Capcom Co. Ltd.		144,032		2,716		0.48
Daiichi Sankyo Co. Ltd.		72,510		2,490		0.44
Daikin Industries Ltd.		18,130		2,521		0.44
Disco Corp.		6,722		2,551		0.45
Fanuc Corp.		91,998		2,522		0.44
Fast Retailing Co. Ltd.		10,091		2,545		0.45
Hitachi Ltd.		119,733		2,680		0.47
Hoshizaki Corp.		76,186		2,417		0.42
Hoya Corp.		21,752		2,530		0.44
Japan Exchange Group, Inc.		109,976		2,565		0.45
Keisei Electric Railway Co.		74,456		2,396		0.42
Keyence Corp.		5,932		2,602		0.46
Kikkoman Corp.		221,239		2,563		0.45
Lasertec Corp.		11,063		2,482		0.43
Mcdonald's Holdings Co.		63,584		2,506		0.44
Monotaro Co. Ltd.		239,829		2,819		0.49
MS&AD Insurance Group Holdings, Inc.		128,562		2,857		0.50
Nidec Corp.		58,056		2,593		0.45
Nintendo Co. Ltd.		47,731		2,539		0.44
Nippon Building Fund, Inc.		831		2,908		0.51
Nippon Paint Holdings Co. Ltd.		380,529		2,479		0.43
Nippon Prologis REIT, Inc.		1,653		2,580		0.45
Obic Co. Ltd.		20,507		2,644		0.46
Oriental Land Co. Ltd.		93,216		2,597		0.46
Osaka Gas Co. Ltd.		113,136		2,492		0.44
Recruit Holdings Co. Ltd.		52,938		2,833		0.50
Shimano, Inc.		15,321		2,367		0.41
Shin-Etsu Chemical Co. Ltd.		66,106		2,564		0.45
Shiseido Co. Ltd.		81,298		2,319		0.41
SMC Corp.		5,337		2,533		0.44
Sumitomo Mitsui Trust Holdings, Inc		114,299		2,608		0.46
Terumo Corp.		151,527		2,499		0.44
Tokio Marine Holdings, Inc.		72,890		2,721		0.48
Tokyo Electron Ltd.		11,495		2,494		0.44
Unicharm Corp.		79,233		2,545		0.45
Yaskawa Electric Corp.		67,781		2,434		0.43
Zozo, Inc.		107,669		2,696		0.47

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

The following table represents the equity basket holdings underlying the total return swap with Japan Value Index as of June 30, 2024:

Security Description	Shares		Value (000)		Percentage of Net Assets
Japan Value Index
AGC, Inc.		72,955	$	2,361		0.41	%
Ana Holdings, Inc.		133,955		2,473		0.43
Asahi Group Holdings Ltd.		67,561		2,384		0.42
Brother Industries Ltd.		133,934		2,357		0.41
Canon, Inc.		86,955		2,354		0.41
Chubu Electric Power Co., Inc.		194,063		2,294		0.40
Daiwa House Industry Co. Ltd.		95,419		2,419		0.42
Fujitsu Limited		162,132		2,537		0.44
Hitachi Construction Machine		94,154		2,522		0.44
Honda Motor Co. Ltd.		229,069		2,449		0.43
Isuzu Motors Ltd.		190,764		2,527		0.44
Japan Airlines Co. Ltd.		152,382		2,405		0.42
JFE Holdings, Inc.		169,668		2,442		0.43
KDDI Corp.		91,406		2,417		0.42
Kintetsu Group Holdings Co. Ltd.		115,560		2,516		0.44
Kirin Holdings Co. Ltd.		179,057		2,308		0.40
Kubota Corp.		175,897		2,460		0.43
Mazda Motor Corp.		256,377		2,480		0.43
Mitsui Osk Lines Ltd.		80,427		2,409		0.42
Mizuho Financial Group, Inc.		125,748		2,625		0.46
Nippon Express Holdings, Inc.		51,898		2,392		0.42
Nippon Steel Corp.		115,316		2,438		0.43
Nippon Telegraph & Telephone		2,644,715		2,496		0.44
Nippon Yusen Kabushiki Kaisha		82,506		2,402		0.42
Nissan Motor Co. Ltd.		717,659		2,436		0.43
Nomura Real Estate Holdings		97,573		2,445		0.43
Ono Pharmaceutical Co. Ltd.		181,148		2,474		0.43
Orix Corp.		113,753		2,512		0.44
Otsuka Holdings Co. Ltd.		59,657		2,511		0.44
Panasonic Holdings Corp.		296,959		2,431		0.43
Ricoh Co. Ltd.		267,186		2,285		0.40
Rohm Co. Ltd.		186,112		2,488		0.44
SBI Holdings, Inc.		97,860		2,474		0.43
Seiko Epson Corp.		157,664		2,450		0.43
Seven & I Holdings Co. Ltd.		192,173		2,342		0.41
Shionogi & Co. Ltd.		64,157		2,504		0.44
Shizuoka Financial Group, Inc.		259,527		2,491		0.44
Subaru Corp.		115,155		2,441		0.43
Toyota Tsusho Corp.		126,961		2,472		0.43

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Consolidated Portfolio of Investments (cont'd)

Global Strategist Portfolio

@	Value/Notional amount is less than $500.
‡	Amount is less than 0.05%.
CVA	Certificaten Van Aandelen.
FTSE	Financial Times Stock Exchange.
ICE	Intercontinental Exchange.
KFE	Korean Futures Exchange.
MSCI	Morgan Stanley Capital International.
PJSC	Public Joint Stock Company.
SFE	Sydney Futures Exchange.
SGX	Singapore Exchange Ltd.
TSE	Toronto Stock Exchange.
AUD —	Australian Dollar
BRL —	Brazilian Real
CAD —	Canadian Dollar
CHF —	Swiss Franc
CLP —	Chilean Peso
CNH —	Chinese Yuan Renminbi Offshore
CNY —	Chinese Yuan Renminbi
COP —	Colombian Peso
CZK —	Czech Koruna
DKK —	Danish Krone
EUR —	Euro
GBP —	British Pound
HKD —	Hong Kong Dollar
HUF —	Hungarian Forint
IDR —	Indonesian Rupiah
ILS —	Israeli Shekel
INR —	Indian Rupee
JPY —	Japanese Yen
KRW —	South Korean Won
MXN —	Mexican Peso
MYR —	Malaysian Ringgit
NOK —	Norwegian Krone
NZD —	New Zealand Dollar
PEN —	Peruvian Nuevo Sol
PLN —	Polish Zloty
RON —	Romanian New Leu
SEK —	Swedish Krona
SGD —	Singapore Dollar
THB —	Thai Baht
TRY —	Turkish Lira
TWD —	Taiwan Dollar
USD —	United States Dollar
ZAR —	South African Rand

Portfolio Composition

Classification	Percentage of Total Investments
Fixed Income Securities		44.5	%
Common Stocks		38.1
Short-Term Investments		17.4
Total Investments		100.0	%*

* Does not include open futures contracts with a value of approximately $141,396,000 and net unrealized appreciation of approximately $471,000. Does not include open foreign currency forward exchange contracts with net unrealized depreciation of approximately $375,000. Also does not include open swap agreements with net unrealized appreciation of approximately $2,551,000.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments

High Yield Portfolio

	Face Amount (000)		Value (000)
Fixed Income Securities (98.0%)
Corporate Bonds (91.2%)
Basic Materials (3.3%)
Eldorado Gold Corp.
6.25%, 9/1/29 (a)	$	640	$	616
First Quantum Minerals Ltd.
9.38%, 3/1/29 (a)		400		418
HB Fuller Co.
4.25%, 10/15/28		515		488
Herens Holdco SARL
4.75%, 5/15/28 (a)		800		695
Hudbay Minerals, Inc.
4.50%, 4/1/26 (a)		184		180
IAMGOLD Corp.
5.75%, 10/15/28 (a)		649		614
Novelis Corp.
4.75%, 1/30/30 (a)		375		348
Nufarm Australia Ltd./Nufarm Americas, Inc.
5.00%, 1/27/30 (a)		500		459
				3,818
Communications (9.6%)
Arches Buyer, Inc.
6.13%, 12/1/28 (a)		1,260		1,047
Block Communications, Inc.
4.88%, 3/1/28 (a)		693		621
C&W Senior Finance Ltd.
6.88%, 9/15/27 (a)		765		735
CCO Holdings LLC/CCO Holdings Capital Corp.
5.00%, 2/1/28 (a)		450		421
5.13%, 5/1/27 (a)		425		408
Ciena Corp.
4.00%, 1/31/30 (a)		310		281
Clear Channel Outdoor Holdings, Inc.
7.75%, 4/15/28 (a)		735		644
CSC Holdings LLC
5.38%, 2/1/28 (a)		400		304
5.50%, 4/15/27 (a)		700		568
GCI LLC
4.75%, 10/15/28 (a)		525		480
Lamar Media Corp.
4.00%, 2/15/30		200		182
LCPR Senior Secured Financing DAC
6.75%, 10/15/27 (a)		520		488
Midcontinent Communications/Midcontinent Finance Corp.
5.38%, 8/15/27 (a)		940		903
Sable International Finance Ltd.
5.75%, 9/7/27 (a)		449		431
Spotify USA, Inc.
0.00%, 3/15/26		390		372
Townsquare Media, Inc.
6.88%, 2/1/26 (a)		940		926
Univision Communications, Inc.
6.63%, 6/1/27 (a)		100		96
8.00%, 8/15/28 (a)		275		268
Viavi Solutions, Inc.
3.75%, 10/1/29 (a)		735		622
Virgin Media Finance PLC
5.00%, 7/15/30 (a)		600		496
Ziff Davis, Inc.
4.63%, 10/15/30 (a)		665		602
Ziggo BV
4.88%, 1/15/30 (a)		350		312
				11,207
Consumer, Cyclical (20.4%)
Acushnet Co.
7.38%, 10/15/28 (a)		180		187
Allwyn Entertainment Financing UK PLC
7.88%, 4/30/29 (a)		445		460
American Airlines, Inc.
7.25%, 2/15/28 (a)		117		117
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.50%, 4/20/26 (a)		249		247
Arko Corp.
5.13%, 11/15/29 (a)		825		719
Ashton Woods USA LLC/Ashton Woods Finance Co.
4.63%, 4/1/30 (a)		340		304
BCPE Empire Holdings, Inc.
7.63%, 5/1/27 (a)		725		703
Boyne USA, Inc.
4.75%, 5/15/29 (a)		615		574
Caesars Entertainment, Inc.
4.63%, 10/15/29 (a)		540		495
Cars.com, Inc.
6.38%, 11/1/28 (a)		735		723
CD&R Smokey Buyer, Inc.
6.75%, 7/15/25 (a)		664		660
Cougar JV Subsidiary LLC
8.00%, 5/15/32 (a)		445		460
Dana, Inc.
4.25%, 9/1/30		350		306
Dealer Tire LLC/DT Issuer LLC
8.00%, 2/1/28 (a)		893		863
DraftKings Holdings, Inc.
0.00%, 3/15/28		790		658
Dream Finders Homes, Inc.
8.25%, 8/15/28 (a)		430		441
Evergreen Acqco 1 LP/TVI, Inc.
9.75%, 4/26/28 (a)		523		559
Everi Holdings, Inc.
5.00%, 7/15/29 (a)		470		463
Ferrellgas LP/Ferrellgas Finance Corp.
5.88%, 4/1/29 (a)		1,175		1,082

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

High Yield Portfolio

	Face Amount (000)		Value (000)
Consumer, Cyclical (cont'd)
GYP Holdings III Corp.
4.63%, 5/1/29 (a)	$	260	$	241
Hanesbrands, Inc.
9.00%, 2/15/31 (a)		430		451
Hilton Domestic Operating Co., Inc.
3.63%, 2/15/32 (a)		250		216
Jacobs Entertainment, Inc.
6.75%, 2/15/29 (a)		520		485
JB Poindexter & Co., Inc.
8.75%, 12/15/31 (a)		815		845
LGI Homes, Inc.
4.00%, 7/15/29 (a)		605		526
Lindblad Expeditions Holdings, Inc.
9.00%, 5/15/28 (a)		199		205
Lindblad Expeditions LLC
6.75%, 2/15/27 (a)		430		425
Lithia Motors, Inc.
3.88%, 6/1/29 (a)		125		112
4.38%, 1/15/31 (a)		150		134
Macy's Retail Holdings LLC
4.50%, 12/15/34		670		580
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.88%, 5/1/29 (a)		400		373
NCL Corp. Ltd.
7.75%, 2/15/29 (a)		475		494
New Home Co., Inc.
9.25%, 10/1/29 (a)		985		989
NMG Holding Co., Inc./Neiman Marcus Group LLC
7.13%, 4/1/26 (a)		694		686
Patrick Industries, Inc.
4.75%, 5/1/29 (a)		650		600
PetSmart, Inc./PetSmart Finance Corp.
4.75%, 2/15/28 (a)		345		321
Phinia, Inc.
6.75%, 4/15/29 (a)		235		239
Real Hero Merger Sub 2, Inc.
6.25%, 2/1/29 (a)		845		725
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC
6 Month Term SOFR + 6.03%, 11.31%, 10/15/26 (a)(b)		730		740
Speedway Motorsports LLC/Speedway Funding II, Inc.
4.88%, 11/1/27 (a)		1,025		980
STL Holding Co. LLC
8.75%, 2/15/29 (a)		580		606
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.
5.88%, 5/15/25 (a)		315		313
Thor Industries, Inc.
4.00%, 10/15/29 (a)		400		352
Velocity Vehicle Group LLC
8.00%, 6/1/29 (a)		75		77
VistaJet Malta Finance PLC/Vista Management Holding, Inc.
6.38%, 2/1/30 (a)		1,075		846
7.88%, 5/1/27 (a)		125		111
9.50%, 6/1/28 (a)		165		145
Wheel Pros, Inc.
6.50%, 5/15/29 (a)		600		120
White Cap Buyer LLC
6.88%, 10/15/28 (a)		400		386
ZF North America Capital, Inc.
6.88%, 4/14/28 (a)		385		393
				23,737
Consumer, Non-Cyclical (15.6%)
AHP Health Partners, Inc.
5.75%, 7/15/29 (a)		1,142		1,085
Alta Equipment Group, Inc.
9.00%, 6/1/29 (a)		260		242
AMN Healthcare, Inc.
4.00%, 4/15/29 (a)		450		405
APi Group DE, Inc.
4.13%, 7/15/29 (a)		350		319
Block, Inc.
0.25%, 11/1/27		425		353
Carriage Services, Inc.
4.25%, 5/15/29 (a)		425		380
Chobani LLC/Chobani Finance Corp., Inc.
4.63%, 11/15/28 (a)		425		402
7.63%, 7/1/29 (a)		565		583
Concentra Escrow Issuer Corp.
6.88%, 7/15/32 (a)(c)		105		107
Esc Cb National Cineme
0.00%, 8/15/26 (d)(e)(f)		600		—
Fortrea Holdings, Inc.
7.50%, 7/1/30 (a)		501		498
Garda World Security Corp.
9.50%, 11/1/27 (a)		650		654
HealthEquity, Inc.
4.50%, 10/1/29 (a)		245		229
Heartland Dental LLC/Heartland Dental Finance Corp.
10.50%, 4/30/28 (a)		874		929
Hertz Corp.
4.63%, 12/1/26 (a)		950		690
Ingles Markets, Inc.
4.00%, 6/15/31 (a)		675		588
LifePoint Health, Inc.
5.38%, 1/15/29 (a)		988		869
10.00%, 6/1/32 (a)		300		307
Mavis Tire Express Services Topco Corp.
6.50%, 5/15/29 (a)		819		764
Medline Borrower LP
3.88%, 4/1/29 (a)		400		369

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

High Yield Portfolio

	Face Amount (000)		Value (000)
Consumer, Non-Cyclical (cont'd)
ModivCare Escrow Issuer, Inc.
5.00%, 10/1/29 (a)	$	700	$	494
ModivCare, Inc.
5.88%, 11/15/25 (a)		250		254
Molina Healthcare, Inc.
3.88%, 5/15/32 (a)		289		251
Nathan's Famous, Inc.
6.63%, 11/1/25 (a)		474		476
Option Care Health, Inc.
4.38%, 10/31/29 (a)		380		349
P&L Development LLC/PLD Finance Corp.
7.75%, 11/15/25 (a)		1,085		992
PROG Holdings, Inc.
6.00%, 11/15/29 (a)		325		309
Signal Parent, Inc.
6.13%, 4/1/29 (a)		695		480
Sotheby's
7.38%, 10/15/27 (a)		450		376
Surgery Center Holdings, Inc.
7.25%, 4/15/32 (a)		280		283
TriNet Group, Inc.
3.50%, 3/1/29 (a)		415		370
Triton Water Holdings, Inc.
6.25%, 4/1/29 (a)		615		594
U.S. Acute Care Solutions LLC
9.75%, 5/15/29 (a)		260		256
Varex Imaging Corp.
7.88%, 10/15/27 (a)		550		560
VT Topco, Inc.
8.50%, 8/15/30 (a)		475		499
Wand NewCo 3, Inc.
7.63%, 1/30/32 (a)		328		339
WASH Multifamily Acquisition, Inc.
5.75%, 4/15/26 (a)		725		709
ZipRecruiter, Inc.
5.00%, 1/15/30 (a)		910		791
				18,155
Energy (7.9%)
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 4/1/28 (a)		200		198
Blue Racer Midstream LLC/Blue Racer Finance Corp.
7.25%, 7/15/32 (a)		440		453
CITGO Petroleum Corp.
6.38%, 6/15/26 (a)		820		816
CNX Midstream Partners LP
4.75%, 4/15/30 (a)		450		406
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.50%, 6/15/31 (a)		325		308
EQM Midstream Partners LP
4.75%, 1/15/31 (a)		250		234
Global Partners LP/GLP Finance Corp.
6.88%, 1/15/29		620		615
8.25%, 1/15/32 (a)		90		93
Kodiak Gas Services LLC
7.25%, 2/15/29 (a)		390		400
Martin Midstream Partners LP/Martin Midstream Finance Corp.
11.50%, 2/15/28 (a)		545		590
Matador Resources Co.
6.50%, 4/15/32 (a)		315		315
NextEra Energy Partners LP
0.00%, 11/15/25 (a)		1,260		1,143
Oceaneering International, Inc.
6.00%, 2/1/28		925		915
Sitio Royalties Operating Partnership LP/Sitio Finance Corp.
7.88%, 11/1/28 (a)		470		486
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.50%, 1/15/28 (a)		350		335
6.00%, 12/31/30 (a)		500		466
Vermilion Energy, Inc.
6.88%, 5/1/30 (a)		700		689
Vital Energy, Inc.
7.88%, 4/15/32 (a)		705		717
				9,179
Finance (9.0%)
AG TTMT Escrow Issuer LLC
8.63%, 9/30/27 (a)		200		207
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.75%, 10/15/27 (a)		205		202
AmWINS Group, Inc.
4.88%, 6/30/29 (a)		713		664
Castlelake Aviation Finance DAC
5.00%, 4/15/27 (a)		480		465
Compass Group Diversified Holdings LLC
5.25%, 4/15/29 (a)		395		375
CTR Partnership LP/CareTrust Capital Corp.
3.88%, 6/30/28 (a)		900		829
GGAM Finance Ltd.
6.88%, 4/15/29 (a)		400		408
Global Net Lease, Inc./Global Net Lease Operating Partnership LP
3.75%, 12/15/27 (a)		500		438
Greystar Real Estate Partners LLC
7.75%, 9/1/30 (a)		425		448
HAT Holdings I LLC/HAT Holdings II LLC
3.75%, 9/15/30 (a)		650		567
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
5.25%, 5/15/27		120		113
6.25%, 5/15/26		475		472

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

High Yield Portfolio

	Face Amount (000)		Value (000)
Finance (cont'd)
Iron Mountain, Inc.
4.88%, 9/15/29 (a)	$	300	$	283
5.25%, 7/15/30 (a)		335		319
Jane Street Group/JSG Finance, Inc.
4.50%, 11/15/29 (a)		775		728
7.13%, 4/30/31 (a)		125		128
Jefferies Finance LLC/JFIN Co.-Issuer Corp.
5.00%, 8/15/28 (a)		900		831
Jefferson Capital Holdings LLC
6.00%, 8/15/26 (a)		399		394
Macquarie Airfinance Holdings Ltd.
6.50%, 3/26/31 (a)		125		129
National Health Investors, Inc.
3.00%, 2/1/31		950		777
Panther Escrow Issuer LLC
7.13%, 6/1/31 (a)		345		349
RHP Hotel Properties LP/RHP Finance Corp.
4.75%, 10/15/27		250		241
RLJ Lodging Trust LP
3.75%, 7/1/26 (a)		250		238
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.
3.88%, 3/1/31 (a)		360		314
StoneX Group, Inc.
7.88%, 3/1/31 (a)		550		568
				10,487
Industrials (18.6%)
AAR Escrow Issuer LLC
6.75%, 3/15/29 (a)		560		571
ACProducts Holdings, Inc.
6.38%, 5/15/29 (a)		925		611
AmeriTex HoldCo Intermediate LLC
10.25%, 10/15/28 (a)		662		698
Artera Services LLC
8.50%, 2/15/31 (a)		590		608
Ball Corp.
3.13%, 9/15/31		275		233
Bombardier, Inc.
6.00%, 2/15/28 (a)		450		445
7.00%, 6/1/32 (a)		155		157
7.25%, 7/1/31 (a)		185		190
Brundage-Bone Concrete Pumping Holdings, Inc.
6.00%, 2/1/26 (a)		300		297
Cargo Aircraft Management, Inc.
4.75%, 2/1/28 (a)		500		464
Carriage Purchaser, Inc.
7.88%, 10/15/29 (a)		1,070		989
Coherent Corp.
5.00%, 12/15/29 (a)		350		332
CP Atlas Buyer, Inc.
7.00%, 12/1/28 (a)		799		684
CryoPort, Inc.
0.75%, 12/1/26 (a)		680		574
Dycom Industries, Inc.
4.50%, 4/15/29 (a)		960		900
EMRLD Borrower LP/Emerald Co.-Issuer, Inc.
6.63%, 12/15/30 (a)		335		338
EnerSys
4.38%, 12/15/27 (a)		635		602
6.63%, 1/15/32 (a)		240		244
Enpro, Inc.
5.75%, 10/15/26		500		494
Enviri Corp.
5.75%, 7/31/27 (a)		1,027		977
EquipmentShare.com, Inc.
9.00%, 5/15/28 (a)		750		775
Esab Corp.
6.25%, 4/15/29 (a)		370		373
Genesee & Wyoming, Inc.
6.25%, 4/15/32 (a)		390		389
GFL Environmental, Inc.
4.75%, 6/15/29 (a)		300		283
Great Lakes Dredge & Dock Corp.
5.25%, 6/1/29 (a)		980		876
Iris Holding, Inc.
10.00%, 12/15/28 (a)		300		256
Madison IAQ LLC
5.88%, 6/30/29 (a)		750		699
Manitowoc Co., Inc.
9.00%, 4/1/26 (a)		175		175
Masterbrand, Inc.
7.00%, 7/15/32 (a)		160		162
Moog, Inc.
4.25%, 12/15/27 (a)		500		474
Mueller Water Products, Inc.
4.00%, 6/15/29 (a)		350		321
New Enterprise Stone & Lime Co., Inc.
5.25%, 7/15/28 (a)		450		425
OI European Group BV
4.75%, 2/15/30 (a)		250		229
Reworld Holding Corp.
4.88%, 12/1/29 (a)		485		443
5.00%, 9/1/30		175		159
Seaspan Corp.
5.50%, 8/1/29 (a)		650		581
TK Elevator U.S. Newco, Inc.
5.25%, 7/15/27 (a)		325		315
Trident TPI Holdings, Inc.
12.75%, 12/31/28 (a)		350		383
TriMas Corp.
4.13%, 4/15/29 (a)		630		578
Trivium Packaging Finance BV
8.50%, 8/15/27 (a)		615		611
TTM Technologies, Inc.
4.00%, 3/1/29 (a)		450		413

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

High Yield Portfolio

	Face Amount (000)		Value (000)
Industrials (cont'd)
VM Consolidated, Inc.
5.50%, 4/15/29 (a)	$	545	$	520
Vontier Corp.
2.95%, 4/1/31		525		438
Waste Pro USA, Inc.
5.50%, 2/15/26 (a)		750		740
Watco Cos. LLC/Watco Finance Corp.
6.50%, 6/15/27 (a)		480		479
Wrangler Holdco Corp.
6.63%, 4/1/32 (a)		150		149
				21,654
Technology (4.9%)
AthenaHealth Group, Inc.
6.50%, 2/15/30 (a)		860		793
Clarivate Science Holdings Corp.
4.88%, 7/1/29 (a)		450		418
Cloud Software Group, Inc.
9.00%, 9/30/29 (a)		765		743
Concentrix Corp.
6.60%, 8/2/28		375		380
Dye & Durham Ltd.
8.63%, 4/15/29 (a)		550		558
Insight Enterprises, Inc.
6.63%, 5/15/32 (a)		80		81
KBR, Inc.
4.75%, 9/30/28 (a)		555		519
Rackspace Technology Global, Inc.
5.38%, 12/1/28 (a)		675		185
ROBLOX Corp.
3.88%, 5/1/30 (a)		850		756
Rocket Software, Inc.
6.50%, 2/15/29 (a)		1,430		1,248
				5,681
Utilities (1.9%)
Leeward Renewable Energy Operations LLC
4.25%, 7/1/29 (a)		1,035		926
Pike Corp.
5.50%, 9/1/28 (a)		545		524
8.63%, 1/31/31 (a)		205		217
TransAlta Corp.
7.75%, 11/15/29		525		548
				2,215
				106,133
Senior Loan Interests (6.8%)
Communications (0.5%)
PUG LLC
2024 Extended Term Loan B
1 Month USD SOFR + 4.75%, 10.09%, 3/15/30 (b)		606		607
Consumer, Cyclical (2.2%)
BCPE Empire Holdings, Inc.
2024 Term Loan
1 Month USD SOFR + 4.00%, 9.34%, 12/11/28 (b)		409		410
Hanesbrands, Inc.
2021 Term Loan
1 Month USD SOFR + 2.00%, 7.44%, 11/19/26 (b)		612		606
Peloton Interactive, Inc.
Term Loan
3 Month USD SOFR + 7.00%, 11.35%, 5/23/29 (b)		460		461
Petco Health & Wellness Co., Inc.
2021 Term Loan B
3 Month USD SOFR + 3.25%, 8.85%, 3/3/28 (b)		625		579
PetSmart, Inc.
2021 Term Loan B
1 Month USD SOFR + 3.75%, 9.19%, 2/11/28 (b)		548		548
				2,604
Consumer, Non-Cyclical (1.0%)
AlixPartners LLP
2021 USD Term Loan B
1 Month USD SOFR + 2.50%, 7.96%, 2/4/28 (b)		190		191
Pluto Acquisition I, Inc.
2024 First Out Superpriority Term Loan
3 Month USD SOFR + 5.50%, 10.95%, 6/20/28 (b)		141		143
2024 Second Out Superpriority Term Loan
3 Month USD SOFR + 4.00%, 9.33%, 9/20/28 (b)		594		534
Triton Water Holdings, Inc.
Term Loan
3 Month USD SOFR + 3.25%, 8.85%, 3/31/28 (b)		338		338
				1,206
Energy (0.6%)
EPIC Y-Grade Services LP
2024 Term Loan B
3 Month USD SOFR + 5.75%, 11.06%, 6/29/29 (b)		650		651
Finance (1.0%)
NEXUS Buyer LLC
Term Loan B
1 Month USD SOFR + 3.75%, 9.19%, 11/9/26 (b)		398		398
Truist Insurance Holdings LLC
2nd Lien Term Loan
3 Month USD SOFR + 4.75%, 10.08%, 5/6/32 (b)		795		813
				1,211

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont'd)

High Yield Portfolio

	Face Amount (000)		Value (000)
Industrials (1.1%)
Grinding Media, Inc.
2021 Term Loan B
3 Month USD SOFR + 4.00%, 9.56%, 10/12/28 (b)	$	691	$	688
Iris Holding, Inc.
Term Loan
6/28/28 (b)(g)		599		563
				1,251
Technology (0.4%)
Dye & Durham Corp.
2024 USD Term Loan B
3 Month USD SOFR + 4.25%, 9.68%, 4/11/31 (b)		425		427
				7,957
Total Fixed Income Securities (Cost $115,591)				114,090

	Shares
Common Stocks (0.1%)
Automobile Components (0.0%)
Exide Technologies (f)(h)		592		—
Diversified REITs (0.0%)‡
American Gilsonite Co. (h)		500		2
Machinery (0.1%)
Iracore Investment Holdings, Inc., Class A (f)(h)		470		94
Semiconductors & Semiconductor Equipment (0.0%)‡
UC Holdings, Inc. (h)		2,826		12
Total Common Stocks (Cost $151)				108
Investment Company (0.2%)
Eaton Vance High Yield ETF (i) (Cost $263)		5,000		263
Short-Term Investment (1.8%)
Investment Company (1.8%)
Morgan Stanley Institutional Liquidity Funds — Government Portfolio — Institutional Class, 5.22% (j) (Cost $2,087)		2,086,700		2,087
Total Investments (100.1%) (Cost $118,092) (k)				116,548
Liabilities in Excess of Other Assets (–0.1%)				(138	)
Net Assets (100.0%)			$	116,410

‡	Amount is less than 0.05%.
(a)	144A security — Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid.
(b)	Floating or variable rate securities: The rates disclosed are as of June 30, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description in the Portfolio of Investments. Certain variable rate securities may not be based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description in the Portfolio of Investments.
(c)	When-issued security.
(d)	Issuer in bankruptcy.
(e)	Non-income producing security; bond in default.
(f)	At June 30, 2024, the Fund held fair valued securities valued at $94,000, representing 0.1% of net assets. These securities have been fair valued using significant unobservable inputs as determined in good faith under procedures established by and under the general supervision of the Trust's (as defined herein) Trustees.
(g)	Unsettled Position. The contract rate does not take effect until settlement date.
(h)	Non-income producing security.
(i)	The Fund invests in Eaton Vance High Yield ETF, a management investment company advised by an affiliate of the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Eaton Vance High Yield ETF. For the nine months ended June 30, 2024, advisory fees paid were reduced by less than $500 relating to the Fund's investment in the Eaton Vance High Yield ETF.
(j)	The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended June 30, 2024, advisory fees paid were reduced by approximately $2,000 relating to the Fund's investment in the Liquidity Fund.
(k)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $1,932,000 and the aggregate gross unrealized depreciation is approximately $3,476,000, resulting in net unrealized depreciation of approximately $1,544,000.
DAC	Designated Activity Company.
ETF	Exchange Traded Fund.
SOFR	Secured Overnight Financing Rate.
USD	United States Dollar.

Portfolio Composition

Classification	Percentage of Total Investments
Consumer, Cyclical		22.5	%
Industrials		19.7
Consumer, Non-Cyclical		16.6
Communications		10.1
Finance		10.0
Energy		8.5
Other*		7.3
Technology		5.3
Total Investments		100.0	%

* Industries and/or investment types representing less than 5% of total investments.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments

Ultra-Short Income Portfolio

	Face
	Amount		Value
	(000)		(000)
Certificates of Deposit (16.5%)
Domestic Banks (2.0%)
Bank of America NA,
5.75%, 11/19/24	$	50,000	$	50,018
6.00%, 9/23/24		75,000		75,052
Citibank NA
5.79%, 7/8/24		97,000		97,004
				222,074
International Banks (14.5%)
Banco Santander SA,
5.52%, 6/6/25		200,000		200,133
5.61%, 6/2/25		100,000		100,143
6.05%, 9/11/24		100,000		100,110
Credit Industriel ET Commercial SA
5.60%, 5/1/25		125,000		125,119
DZ Bank AG Deutsche Zentral-Genossenschaftsbank		130,000		130,130
5.58%, 5/2/25
National Bank of Kuwait (New York)
5.73%, 9/20/24 - 10/1/24		250,000		250,007
Natixis SA,
5.63%, 6/2/25		73,000		73,125
6.02%, 10/2/24		25,000		25,023
Qatar National Bank,
5.72%, 4/10/25		110,000		105,257
5.74%, 6/12/25		50,000		47,409
5.83%, 5/30/25		75,000		71,246
6.20%, 9/23/24		65,000		64,122
Skandinaviska Enskilda Banken AB
6.01%, 8/9/24		102,000		102,048
Svenska Handelsbanken AB (New York)
5.89%, 7/24/24		100,000		100,026
Swedbank AB (New York)
6.01%, 8/9/24		75,000		75,033
Toronto-Dominion Bank,
5.80%, 7/15/24		27,000		27,002
6.00%, 9/20/24		25,000		25,017
				1,620,950
Total Certificates of Deposit (Cost $1,842,013)				1,843,024
Commercial Paper (a) (20.0%)
Asset-Backed Diversified Financial Services (1.6%)
Bay Square Funding LLC
6.05%, 9/18/24		50,000		49,384
Equitable Short Term Funding LLC
5.44%, 8/29/24		3,000		2,972
Paradelle Funding LLC
5.48%, 6/16/25 - 6/17/25		98,000		92,996
Starbird Funding Corp.
5.93%, 7/12/24 (b)		35,000		34,927
				180,279
Automobile (0.7%)
Volkswagen Group of America Finance LLC
5.68%, 1/17/25		77,000		74,556
Communications (0.8%)
Bell Canada
5.87%, 7/2/24		86,500		86,448
Consumer, Non-Cyclical (2.6%)
Home Depot, Inc.,
5.39%, 7/3/24		158,000		157,884
5.46%, 8/12/24		20,000		19,867
5.48%, 8/26/24		60,000		59,475
LVMH Moet Hennessy Louis Vuitton,
5.93%, 10/11/24		42,500		41,840
5.94%, 10/16/24		16,000		15,740
				294,806
Domestic Banks (4.8%)
HSBC USA, Inc.,
5.68%, 1/2/25		50,000		48,589
5.80%, 6/20/25		18,000		17,066
5.88%, 6/5/25		95,000		90,260
5.91%, 5/9/25 (b)		55,000		52,458
5.92%, 5/20/25		15,000		14,284
5.99%, 12/6/24 - 5/23/25		67,000		64,417
6.11%, 12/9/24 (b)		65,000		63,388
6.27%, 11/22/24		30,000		29,331
6.28%, 11/21/24		74,000		72,362
6.29%, 11/27/24		35,000		34,194
6.47%, 8/22/24		14,250		14,131
6.48%, 8/20/24 (b)		38,000		37,694
				538,174
Finance (1.6%)
Barclays Capital, Inc.,
5.98%, 11/5/24		50,000		49,025
6.14%, 10/4/24		50,000		49,274
6.15%, 7/24/24		30,000		29,884
6.18%, 9/13/24		47,250		46,711
				174,894
Health Care Services (0.1%)
Catholic Health Initiatives
5.75%, 11/1/24		15,030		14,705
Insurance (0.2%)
Pricoa Short Term Funding LLC
5.94%, 7/17/24		23,000		22,935
International Banks (7.6%)
Bank of Montreal
5.60%, 5/1/25		25,000		23,896
Barclays Bank PLC,
5.51%, 5/14/25		85,000		81,091
5.98%, 7/9/24 (b)		10,000		9,984
DNB Bank ASA
5.90%, 7/16/24		25,000		24,934
Lloyds Bank PLC
5.94%, 10/11/24		19,000		18,703
Macquarie Bank Ltd.,
5.49%, 6/6/25		125,000		118,842
6.07%, 9/20/24		75,000		74,038
National Australia Bank Ltd.
5.94%, 9/12/24		75,000		74,153
Societe Generale SA,
5.71%, 12/2/24 (b)		268,750		262,542
6.38%, 7/1/24 (b)		80,000		79,964

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont’d)

Ultra-Short Income Portfolio

	Face
	Amount		Value
	(000)		(000)
Commercial Paper (cont'd)
International Banks (cont'd)
UBS AG London
6.13%, 7/31/24	$	13,000	$	12,936
Westpac Banking Corp.
5.93%, 9/6/24		70,000		69,281
				850,364
Total Commercial Paper (Cost $2,236,631)				2,237,161
Corporate Bonds (10.8%)
Automobile (1.5%)
BMW U.S. Capital LLC
3.90%, 4/9/25 (b)		500		494
General Motors Co.
4.00%, 4/1/25		4,780		4,718
General Motors Financial Co., Inc.,
2.75%, 6/20/25		55,336		53,803
3.80%, 4/7/25		26,287		25,895
4.30%, 7/13/25		1,967		1,941
4.35%, 4/9/25		22,156		21,923
Hyundai Capital America
5.74%, 9/17/24 (b)		20,630		20,417
Volkswagen Group of America Finance LLC,
2.85%, 9/26/24 (b)		22,848		22,685
3.35%, 5/13/25 (b)		16,799		16,479
3.95%, 6/6/25 (b)		4,750		4,677
				173,032
Computer Technology (0.7%)
HP, Inc.
2.20%, 6/17/25		29,215		28,256
Oracle Corp.,
2.50%, 4/1/25		23,128		22,599
2.95%, 5/15/25		27,524		26,903
				77,758
Consumer, Non-Cyclical (2.7%)
AbbVie, Inc.
3.60%, 5/14/25		305,042		300,171
Finance (2.2%)
American Express Co.
3.00%, 10/30/24		184,486		182,877
Fiserv, Inc.,
2.75%, 7/1/24		1,915		1,915
3.85%, 6/1/25		59,507		58,510
				243,302
Insurance (0.0%)‡
Equitable Financial Life Global Funding
1.10%, 11/12/24 (b)		2,857		2,810
International Banks (3.7%)
Bank of Montreal,
4.25%, 9/14/24		107,269		106,882
1.85%, 5/1/25		22,000		21,345
Bank of Nova Scotia,
1.30%, 6/11/25		10,000		9,611
5.45%, 6/12/25		44,000		43,923
Canadian Imperial Bank of Commerce
5.14%, 4/28/25		31,336		31,244
Goldman Sachs Group, Inc.
3.75%, 5/22/25		15,300		15,055
Lloyds Banking Group PLC
4.45%, 5/8/25		15,545		15,390
Royal Bank of Canada, MTN,
1.15%, 6/10/25		20,000		19,209
5.66%, 10/25/24		37,641		37,633
Sumitomo Mitsui Financial Group, Inc.,
1.47%, 7/8/25		41,610		39,957
2.45%, 9/27/24		10,406		10,323
2.70%, 7/16/24		20,425		20,400
Sumitomo Mitsui Trust Bank Ltd.
0.80%, 9/16/24 (b)		2,205		2,182
Swedbank AB
3.36%, 4/4/25 (b)		1,000		985
Toronto-Dominion Bank,
0.70%, 9/10/24		6,025		5,967
3.77%, 6/6/25		26,318		25,899
UBS AG
2.95%, 4/9/25		10,823		10,609
				416,614
Total Corporate Bonds (Cost $1,213,666)				1,213,687
Floating Rate Notes (c) (30.5%)
Asset-Backed Diversified Financial Services (5.2%)
Chariot Funding LLC,
SOFR + 0.30%, 5.64%, 12/20/24 (b)		50,000		50,004
SOFR + 0.32%, 5.66%, 3/14/25 - 3/17/25 (b)		490,000		490,036
Collateralized Commercial Paper FLEX Co. LLC,
SOFR + 0.35%, 5.69%, 12/23/24 (a)(b)		37,000		37,007
				577,047
Automobile (5.5%)
American Honda Finance Corp.,
MTN
SOFR + 0.45%, 5.80%, 6/13/25		200,000		200,091
SOFR + 0.45%, 5.85%, 4/29/25		280,000		280,158
SOFR + 0.70%, 6.08%, 11/22/24		73,620		73,767
BMW U.S. Capital LLC,
SOFR + 0.38%, 5.76%, 8/12/24 (b)		63,502		63,517
				617,533
Diversified Financial Services (1.6%)
Macquarie International Bank Ltd.,
SOFR + 0.28%, 5.62%, 12/13/24		100,000		100,043
Mizuho Markets Cayman LP,
MTN
SOFR + 0.55%, 5.89%, 9/23/24		75,000		75,079
				175,122
Domestic Banks (4.5%)
Bank of America NA,
5.72%, 7/3/25		150,000		150,024
Citibank NA,
SOFR + 0.60%, 5.94%, 10/29/24		90,000		90,127

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont’d)

Ultra-Short Income Portfolio

	Face
	Amount		Value
	(000)		(000)
Floating Rate Notes (c) (cont’d)
Domestic Banks (cont’d)
Wells Fargo Bank NA,
SOFR + 0.60%, 5.94%, 11/1/24	$	150,000	$	150,226
SOFR + 0.65%, 5.99%, 7/3/24		114,500		114,509
				504,886
Finance (1.4%)
Citigroup, Inc.,
SOFR + 0.69%, 6.09%, 10/30/24		162,393		162,549
International Banks (12.3%)
Bank of Montreal,
MTN
SOFR + 0.32%, 5.73%, 7/9/24		5,370		5,370
Bank of Nova Scotia,
SOFR + 0.38%, 5.77%, 7/31/24		13,262		13,263
Deutsche Bank AG NY,
SOFR + 0.57%, 5.92%, 9/16/24		250,000		250,239
Goldman Sachs Group, Inc.,
SOFR + 0.51%, 5.86%, 9/10/24		131,020		131,022
SOFR + 0.50%, 5.86%, 9/10/24		5,985		5,986
SOFR + 0.49%, 5.89%, 10/21/24		346,602		346,654
MTN
SOFR + 1.56%, 6.89%, 11/23/24		23,000		23,017
Macquarie Bank Ltd.,
SOFR + 0.52%, 5.86%, 8/2/24 (b)		85,000		85,036
SOFR + 0.53%, 5.87%, 7/25/24 (b)		175,000		175,059
Natixis SA,
SOFR + 0.50%, 5.84%, 7/1/24		250,000		250,009
NatWest Markets PLC,
SOFR + 0.53%, 5.91%, 8/12/24 (b)		3,500		3,501
Royal Bank of Canada,
SOFR + 0.34%, 5.75%, 10/7/24		6,000		6,002
Toronto-Dominion Bank,
MTN
SOFR + 0.35%, 5.71%, 9/10/24		8,984		8,987
UBS AG London,
SOFR + 0.32%, 5.67%, 12/18/24 (b)		75,000		75,019
				1,379,164
Total Floating Rate Notes (Cost $3,414,424)				3,416,301
Repurchase Agreements (21.6%)
Bank of America Securities, Inc., (5.82% (c), dated 10/27/23, due 10/28/24; proceeds $238,350; fully collateralized by various Common Stocks and Preferred Stocks; valued at $236,250) (Demand 7/1/24) (d)		225,000		225,000
Barclays Bank PLC, (5.40%, dated 6/28/24, due 7/1/24; proceeds $250,113; fully collateralized by various Common Stocks; valued at $262,618) (d)		250,000		250,000
BMO Capital Markets Corp., (5.42%, dated 6/28/24, due 7/1/24; proceeds $10,005; fully collateralized by various Corporate Bonds, 1.35% - 6.95% due 12/2/24 - 1/15/38; valued at $10,501)		10,000		10,000
BNP Paribas SA, (5.53% (c), dated 6/29/22, due 7/5/24; proceeds $256,039; fully collateralized by various Corporate Bonds, 0.75% - 12.00% due 7/15/24 - 12/31/79; valued at $243,676) (Demand 7/1/24) (d)		230,000		230,000
Citigroup Global Markets, Inc., (5.97% (c), dated 11/14/22, due 10/1/24; proceeds $222,786; fully collateralized by various Corporate Bonds, 0.00% - 12.25% due 12/15/24 - 12/15/41; valued at $212,002) (Demand 7/1/24) (d)		200,000		200,000
ING Financial Markets LLC, (5.40%, dated 6/28/24, due 7/1/24; proceeds $15,007; fully collateralized by various Corporate Bonds, 1.93% - 7.00% due 12/15/25 - 5/12/61; valued at $15,750)		15,000		15,000
JP Morgan Securities LLC, (5.57% (c), dated 11/17/21, due 7/5/24; proceeds $80,408; fully collateralized by various Common Stocks and Preferred Stocks; valued at $73,818) (Demand 7/1/24) (d)		70,000		70,000
JP Morgan Securities LLC, (5.77% (c), dated 1/5/23, due 9/26/24; proceeds $319,283; fully collateralized by various Corporate Bonds, 3.60% - 12.25% due 7/15/24 - 1/15/55; valued at $308,780) (Demand 7/1/24) (d)		290,000		290,000
JP Morgan Securities LLC, (5.72% (c), dated 6/17/24, due 12/16/24; proceeds $102,892; fully collateralized by various Corporate Bonds, 3.63% - 12.88% due 3/15/25 - 3/1/34; valued at $106,236) (Demand 7/1/24) (d)		100,000		100,000
Mizuho Securities USA LLC, (5.65%, dated 6/12/24, due 9/12/24; proceeds $126,805; fully collateralized by various Corporate Bonds, 1.65% - 11.00% due 4/7/25 - 12/31/79; valued at $131,749) (d)		125,000		125,000
MUFG Securities Americas, Inc., (5.39%, dated 6/26/24, due 7/2/24; proceeds $300,270; fully collateralized by various Common Stocks; valued at $315,283) (d)		300,000		300,000
MUFG Securities Americas, Inc., (5.38%, dated 6/26/24, due 7/2/24; proceeds $150,135; fully collateralized by various Corporate Bonds, 2.20% - 7.95% due 12/15/24 - 9/1/54; valued at $157,642) (d)		150,000		150,000
Pershing LLC, (5.64%, dated 6/28/24, due 7/1/24; proceeds $25,012; fully collateralized by various Corporate Bonds, 1.60% - 9.69% due 8/26/24 - 12/31/79; valued at $26,419) (d)		25,000		25,000

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Portfolio of Investments (cont’d)

Ultra-Short Income Portfolio

	Face
	Amount		Value
	(000)		(000)
Repurchase Agreements (cont’d)
Societe Generale SA, (5.47%, dated 6/28/24, due 7/1/24; proceeds $204,093; fully collateralized by various Corporate Bonds, 0.00% - 13.38% due 10/1/24 - 12/31/79 and U.S. Government obligations, 2.00% - 3.88% due 1/15/26 - 4/15/29; valued at $215,569) (d)	$	204,000	$	204,000
TD Securities USA LLC, (5.39%, dated 6/28/24, due 7/1/24; proceeds $230,103; fully collateralized by various Corporate Bonds, 1.38% - 6.75% due 6/30/25 - 4/18/54; valued at $241,500)		230,000		230,000
Total Repurchase Agreements (Cost $2,424,000)				2,424,000
Total Investments (99.4%) (Cost $11,130,734) (e)				11,134,173
Other Assets in Excess of Liabilities (0.6%)				64,592
Net Assets (100.0%)			$	11,198,765

‡	Amount is less than 0.05%.
(a)	The rates shown are the effective yields at the date of purchase.
(b)	144A security — Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid.
(c)	Floating or variable rate securities: The rates disclosed are as of June 30, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description in the Portfolio of Investments. Certain variable rate securities may not be based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description in the Portfolio of Investments.
(d)	Perpetual — One or more securities do not have a predetermined maturity date. Rates for these securities are fixed for a period of time after which they revert to a floating rate. Interest rates in effect are as of June 30, 2024.
(e)	At June 30, 2024, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $4,111,000 and the aggregate gross unrealized depreciation is approximately $672,000, resulting in net unrealized appreciation of approximately $3,439,000.
MTN	Medium Term Note.

SOFR Secured Overnight Financing Rate.

Portfolio Composition

Classification	Percentage of Total Investments
Floating Rate Notes		30.7	%
Repurchase Agreements		21.8
Commercial Paper		20.1
Certificates of Deposit		16.5
Corporate Bonds		10.9
Total Investments		100.0	%

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments

Security Valuation: (1) Fixed income securities may be valued by an outside pricing service/vendor approved by the Trust’s Board of Trustees (the “Trustees”). The pricing service/vendor may employ a pricing model that takes into account, among other things, bids, yield spreads and/or other market data and specific security characteristics. If Morgan Stanley Investment Management Inc. (the “Adviser”) or Morgan Stanley Investment Management Limited(“MSIM Limited”) (the “Sub-Adviser”), each a wholly-owned subsidiary of Morgan Stanley, determines that the price provided by the outside pricing service/vendor does not reflect the security’s fair value or is unable to provide a price, prices from reputable brokers/dealers may also be utilized. In these circumstances, the value of the security will be the mean of bid and asked prices obtained from reputable brokers/dealers; (2) an equity portfolio security listed or traded on an exchange is valued at its latest reported sales price (or at the exchange official closing price if such exchange reports an official closing price), and if there were no sales on a given day and if there is no official exchange closing price for that day, the security is valued at the mean between the last reported bid and asked prices if such bid and asked prices are available on the relevant exchanges. If only bid prices are available then the latest bid price may be used. Listed equity securities not traded on the valuation date with no reported bid and asked prices available on the exchange are valued at the mean between the current bid and asked prices obtained from one or more reputable brokers/dealers. In cases where a security is traded on more than one exchange, the security is valued on the exchange designated as the primary market; (3) all other equity portfolio securities for which over-the-counter(“OTC”) market quotations are readily available are valued at the latest reported sales price (or at the market official closing price if such market reports an official closing price), and if there was no trading in the security on a given day and if there is no official closing price from relevant markets for that day, the security is valued at the mean between the last reported bid and asked prices if such bid and asked prices are available on the relevant markets. An unlisted equity security that does not trade on the valuation date and for which bid and asked prices from the relevant markets are unavailable is valued at the mean between the current bid and asked prices obtained from one or more reputable brokers/dealers; (4) certain senior collateralized loans (“Senior Loans”) are valued based on quotations received from an independent pricing service; (5) futures are valued at the settlement price on the exchange on which they trade or, if a settlement price is unavailable, at the last sale price on the exchange; (6) OTC swaps may be valued by an outside pricing service approved by the Trustees or quotes from a reputable broker/dealer. Swaps cleared on a clearinghouse or exchange may be valued using the closing price provided by the clearinghouse or exchange; (7) listed options are valued at the last reported sales price on the exchange on which they are listed (or at the exchange official closing price if such exchange reports an official closing price). If an official closing price or last reported sales price is unavailable, the listed option should be fair valued at the mean between its latest bid and ask prices. Unlisted options are valued at the mean between their latest bid and ask prices from a reputable broker/dealer or valued by a pricing service/vendor; (8) when market quotations are not readily available, as defined by Rule 2a-5 under the Act, including circumstances under which the Adviser or the Sub-Adviser determines that the closing price, last sale price or the mean between the last reported bid and asked prices are not reflective of a security’s market value, portfolio securities are valued at their fair value as determined in good faith under procedures approved by and under the general supervision of the Trustees. Occasionally, developments affecting the closing prices of securities and other assets may occur between the times at which valuations of such securities are determined (that is, close of the foreign market on which the securities trade) and the close of business of the New York Stock Exchange (“NYSE”). If developments occur during such periods that are expected to materially affect the value of such securities, such valuations may be adjusted to reflect the estimated fair value of such securities as of the close of the NYSE, as determined in good faith by the Trustees or by the Adviser using a pricing service and/or procedures approved by the Trustees; (9) foreign exchange transactions (“spot contracts”) and foreign exchange forward contracts (“forward contracts”) are valued daily using an independent pricing vendor at the spot and forward rates, respectively, as of the close of the NYSE; and (10) investments in mutual funds, including the Morgan Stanley Institutional Liquidity Funds, are valued at the net asset value (“NAV”) as of the close of each business day.

In connection with Rule 2a-5 of the Act, the Trustees have designated the Trust’s Adviser as its valuation designee. The valuation designee has responsibility for determining fair value and to make the actual calculations pursuant to the fair valuation methodologies previously approved by the Trustees. Under procedures approved by the Trustees, the Trust’s Adviser, as valuation designee, has formed a Valuation Committee whose members are approved by the Trustees. The Valuation Committee provides administration and oversight of the Trust’s valuation policies and procedures, which are reviewed at least annually by the Trustees. These procedures allow the Trust to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Fair Value Measurement: Financial Accounting Standards Board (“FASB”) ASC 820, “Fair Value Measurement” (“ASC 820”), defines fair value as the price that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in valuing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs); and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in valuing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Fund’s investments. The inputs are summarized in the three broad levels listed below:

· Level 1 – unadjusted quoted prices in active markets for identical investments

· Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

· Level 3 – significant unobservable inputs including the Fund’s own assumptions in determining the fair value of investments. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each security.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted quoted prices (000)			Level 2 Other significant observable inputs (000)		Level 3 Significant unobservable inputs (000)		Total (000)
Corporate Bond
Assets:
Fixed Income Securities
Commercial Mortgage-Backed Securities	$	—		$	2,410	$	—	$	2,410
Corporate Bonds		—			109,013		—		109,013
Sovereign		—			288		—		288
Total Fixed Income Securities		—			111,711		—		111,711
Investment Companies		1,635			—		—		1,635
Short-Term Investments
Investment Company		1,179			—		—		1,179
U.S. Treasury Security		—			1,857		—		1,857
Total Short-Term Investments		1,179			1,857		—		3,036
Futures Contracts		378			—		—		378
Total Assets	$	3,192		$	113,568	$	—	$	116,760
Liabilities:
Futures Contracts		(295	)		—		—		(295	)
Total	$	2,897		$	113,568	$	—	$	116,465

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted quoted prices (000)		Level 2 Other significant observable inputs (000)		Level 3 Significant unobservable inputs (000)		Total (000)
Discovery
Assets:
Common Stocks
Automobiles	$	1,973	$	—	$	—	$	1,973
Biotechnology		23,731		—		—		23,731
Broadline Retail		61,215		—		—		61,215
Consumer Staples Distribution & Retail		21,081		—		—		21,081
Entertainment		44,711		—		—		44,711
Financial Services		47,782		31,116		—		78,898
Ground Transportation		16,614		—		—		16,614
Health Care Equipment & Supplies		7,040		—		—		7,040
Health Care Providers & Services		29,300		—		—		29,300
Health Care Technology		15,454		—		—		15,454
Hotels, Restaurants & Leisure		62,638		—		—		62,638
Information Technology Services		98,510		—		—		98,510
Leisure Products		8,284		—		—		8,284
Life Sciences Tools & Services		7,935		—		—		7,935
Machinery		3,275		—		—		3,275
Media		67,490		—		—		67,490
Pharmaceuticals		40,581		—		—		40,581
Software		147,695		8,439		—		156,134
Specialty Retail		51,455		—		—		51,455
Textiles, Apparel & Luxury Goods		21,661		—		—		21,661
Total Common Stocks		778,425		39,555		—		817,980
Preferred Stock
Software		—		—		24,271		24,271
Investment Company		21,730		—		—		21,730
Call Options Purchased		—		913		—		913
Short-Term Investments
Investment Company		18,179		—		—		18,179
Repurchase Agreements		—		108		—		108
Total Short-Term Investments		18,179		108		—		18,287
Total Assets	$	818,334	$	40,576	$	24,271	$	883,181

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

Discovery	Preferred Stock (000)
Beginning Balance	$	31,817
Purchases		—
Sales		—
Transfers in		—
Transfers out		—
Corporate actions		—
Change in unrealized appreciation (depreciation)		(7,546	)
Realized gains (losses)		—
Ending Balance	$	24,271
Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2024	$	(7,546	)

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 as of June 30, 2024. Various valuation techniques were used in the valuation of certain investments and weighted based on the level of significance:

Discovery	Fair Value at June 30, 2024 (000)	Valuation Technique	Unobservable Input	Amount*	Impact to Valuation from an Increase in Input**
Preferred Stock	$24,271	Market Transaction Method	Precedent Transaction	$65.00	Increase
		Discounted Cash Flow	Weighted Average Cost of Capital	15.0%	Decrease
			Perpetual Growth Rate	3.5%	Increase
		Market Comparable Companies	Enterprise Value/Revenue	14.0x	Increase
			Discount for Lack of Marketability	11.0%	Decrease

*	Amount is indicative of the weighted average.
**	Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted quoted prices (000)			Level 2 Other significant observable inputs (000)			Level 3 Significant unobservable inputs (000)		Total (000)
Dynamic Value
Assets:
Common Stocks	$	85,683	(1)	$	—		$	—	$	85,683
Short-Term Investment
Investment Company		45,437			—			—		45,437
Total Assets	$	131,120		$	—		$	—	$	131,120
Liabilities:
Total Return Swap Agreement		—			(1,988	)		—		(1,988	)
Total	$	131,120		$	(1,988	)	$	—	$	129,132

(1) The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted quoted prices (000)		Level 2 Other significant observable inputs (000)		Level 3 Significant unobservable inputs (000)			Total (000)
Global Strategist
Assets:
Fixed Income Securities
Agency Fixed Rate Mortgages	$	—	$	22,384	$	—		$	22,384
Asset-Backed Securities		—		2,972		—			2,972
Commercial Mortgage-Backed Securities		—		4,289		—			4,289
Corporate Bonds		—		49,889		—			49,889
Mortgages - Other		—		5,640		—			5,640
Municipal Bond		—		249		—			249
Sovereign		—		121,957		—			121,957
Supranational		—		4,099		—			4,099
U.S. Treasury Securities		—		42,372		—			42,372
Total Fixed Income Securities		—		253,851		—			253,851
Common Stocks
Aerospace & Defense		2,513		1,629		—			4,142
Air Freight & Logistics		571		323		—			894
Automobile Components		110		151		—			261
Automobiles		1,944		1,104		—			3,048
Banks		6,435		16,853		—			23,288
Beverages		1,886		1,033		—			2,919
Biotechnology		2,743		668		—			3,411
Broadline Retail		5,741		532		—			6,273
Building Products		811		503		—			1,314
Capital Markets		4,201		2,005		—			6,206
Chemicals		2,065		1,777		—			3,842
Commercial Services & Supplies		1,079		174		—			1,253
Communications Equipment		1,085		173		—			1,258
Construction & Engineering		334		466		—			800
Construction Materials		344		341		—			685
Consumer Finance		720		—		—			720
Consumer Staples Distribution & Retail		2,977		596		—			3,573
Containers & Packaging		335		85		—			420
Distributors		122		21		—			143
Diversified Consumer Services		—		36		—			36
Diversified REITs		35		302		—			337
Diversified Telecommunication Services		958		1,099		—			2,057
Electric Utilities		2,120		1,234		—			3,354
Electrical Equipment		1,031		1,387		—			2,418
Electronic Equipment, Instruments & Components		800		172		—			972
Energy Equipment & Services		378		34		—	†		412	†
Entertainment		1,893		156		—			2,049
Financial Services		4,827		707		—			5,534
Food Products		980		1,909		—			2,889
Gas Utilities		83		116		—			199
Ground Transportation		2,056		44		—			2,100
Health Care Equipment & Supplies		3,187		1,121		—			4,308
Health Care Providers & Services		3,266		180		—			3,446
Health Care REITs		273		—		—			273
Health Care Technology		81		25		—			106
Hotel & Resort REITs		37		—		—			37
Hotels, Restaurants & Leisure		2,789		1,064		—			3,853
Household Durables		435		124		—			559
Household Products		1,609		358		—			1,967
Independent Power & Renewable Electricity Producers		160		143		—			303

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Investment Type	Level 1 Unadjusted quoted prices (000)		Level 2 Other significant observable inputs (000)			Level 3 Significant unobservable inputs (000)			Total (000)
Common Stocks (cont’d)
Industrial Conglomerates	$	565	$	887		$	—		$	1,452
Industrial REITs		297		122			—			419
Information Technology Services		2,225		162			—			2,387
Insurance		3,593		3,284			—			6,877
Interactive Media & Services		9,147		165			—			9,312
Investment Company		—		—			—	†		—	†
Leisure Products		11		—			—			11
Life Sciences Tools & Services		1,774		338			—			2,112
Machinery		2,244		1,546			—			3,790
Marine Transportation		—		140			—			140
Media		827		262			—			1,089
Metals & Mining		1,380		2,178			—	†		3,558	†
Mortgage Real Estate Investment		28		—			—			28
Multi-Utilities		803		669			—			1,472
Office REITs		79		41			—			120
Oil, Gas & Consumable Fuels		6,480		3,010			—			9,490
Paper & Forest Products		21		225			—			246
Passenger Airlines		45		67			—			112
Personal Care Products		171		1,344			—			1,515
Pharmaceuticals		5,181		6,571			—			11,752
Professional Services		1,096		1,064			—			2,160
Real Estate Management & Development		218		452			—			670
Residential REITs		509		—			—			509
Retail REITs		353		225			—			578
Semiconductors & Semiconductor Equipment		16,846		2,463			—			19,309
Software		15,699		1,375			—			17,074
Specialized REITs		1,280		—			—			1,280
Specialty Retail		2,575		384			—			2,959
Tech Hardware, Storage & Peripherals		9,645		70			—			9,715
Textiles, Apparel & Luxury Goods		466		2,211			—			2,677
Tobacco		682		385			—			1,067
Trading Companies & Distributors		630		366			—			996
Transportation Infrastructure		—		255			—			255
Water Utilities		100		78			—			178
Wireless Telecommunication Services		337		121			—			458
Total Common Stocks		148,321		69,105			—	†		217,426	†
Rights		—		—@	†		—			—@	†
Warrants		—		—	†		—			—	†
Short-Term Investments
Investment Company		83,780		—			—			83,780
U.S. Treasury Securities		—		15,899			—			15,899
Total Short-Term Investments		83,780		15,899			—			99,679
Foreign Currency Forward Exchange Contracts		—		685			—			685
Futures Contracts		777		—			—			777
Centrally Cleared Interest Rate Swap Agreement		—		148			—			148
Total Return Swap Agreements		—		4,030			—			4,030
Total Assets	$	232,878	$	343,718	†	$	—	†	$	576,596	†

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Investment Type	Level 1 Unadjusted quoted prices (000)			Level 2 Other significant observable inputs (000)			Level 3 Significant unobservable inputs (000)			Total (000)
Liabilities:
Foreign Currency Forward Exchange Contracts	$	—		$	(1,060	)	$	—		$	(1,060	)
Futures Contracts		(306	)		—			—			(306	)
Centrally Cleared Interest Rate Swap Agreements		—			(122	)		—			(122	)
Total Return Swap Agreements		—			(1,505	)		—			(1,505	)
Total Liabilities		(306	)		(2,687	)		—			(2,993	)
Total	$	232,572		$	341,031	†	$	—	†	$	573,603	†

†	Includes one or more securities valued at zero.
@	Value is less than $500.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

Global Strategist	Common Stock (000)
Beginning Balance	$	—	†
Purchases		—
Sales		—
Transfers in		—
Transfers out		—
Corporate actions		—
Change in unrealized appreciation (depreciation)		—
Realized gains (losses)		—
Ending Balance	$	—	†
Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2024	$	—

† Includes one or more securities valued at zero.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted quoted prices (000)		Level 2 Other significant observable inputs (000)		Level 3 Significant unobservable inputs (000)			Total (000)
High Yield
Assets:
Fixed Income Securities
Corporate Bonds	$	—	$	106,133	$	—	†	$	106,133	†
Senior Loan Interests		—		7,957		—			7,957
Total Fixed Income Securities		—		114,090		—			114,090
Common Stocks
Automobile Components		—		—		—	†		—	†
Diversified REITs		—		2		—			2
Machinery		—		—		94			94
Semiconductors & Semiconductor Equipment		—		12		—			12
Total Common Stocks		—		14		94	†		108	†
Investment Company		263		—		—			263
Short-Term Investment
Investment Company		2,087		—		—			2,087
Total Assets	$	2,350	$	114,104	$	94	†	$	116,548	†

† Includes a security valued at zero.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

High Yield	Fixed Income (000)			Common Stock (000)
Beginning Balance	$	—		$	72
Purchases		—			—
Sales		—			—
Transfers in		—	†		—
Transfers out		—			—
Corporate actions		—			—
Change in unrealized appreciation (depreciation)		—			22
Realized gains (losses)		—			—
Ending Balance	$	—	†	$	94
Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2024	$	—		$	22

† Includes a security valued at zero.

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 as of June 30, 2024:

High Yield	Fair Value at June 30, 2024 (000)	Valuation Technique	Unobservable Input	Amount*	Impact to Valuation from an Increase in Input**
Common Stock	$94	Market Comparable Companies	Enterprise Value/EBITDA	2.75x	Increase
			Enterprise Value/Revenue	0.32x	Increase
			Discount for Lack of Marketability	30.0%	Decrease

*	Amount is indicative of the weighted average.
**	Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

Morgan Stanley Institutional Fund Trust

Third Quarter Report — June 30, 2024 (unaudited)

Notes to the Portfolio of Investments (cont’d)

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2024:

Investment Type	Level 1 Unadjusted Quoted Prices (000)		Level 2 Other Significant Observable Inputs (000)		Level 3 Significant Unobservable Inputs (000)		Total (000)
Ultra-Short Income
Assets:
Certificates of Deposit	$	—	$	1,843,024	$	—	$	1,843,024
Commercial Paper		—		2,237,161		—		2,237,161
Corporate Bonds		—		1,213,687		—		1,213,687
Floating Rate Notes		—		3,416,301		—		3,416,301
Repurchase Agreements		—		2,424,000		—		2,424,000
Total Assets	$	—	$	11,134,173	$	—	$	11,134,173

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes.