UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2019
OR
oTRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________________ to __________________
Commission file number 1-11758
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Morgan Stanley 401(k) Plan
c/o Morgan Stanley Benefits Department
1585 Broadway
New York, NY 10036
B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:
MORGAN STANLEY
1585 Broadway
New York, NY 10036
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | Morgan Stanley 401(k) Plan |
| | | | (Name of Plan) |
| | | | |
| | | | |
| Date: | 06/26/2020 | | By: | /s/ Adam Kudelka |
| | | | | (Signature) |
| | | | Name: | Adam Kudelka |
| | | | Title: | Morgan Stanley Director of Compensation and Retirement Plans |
| | Morgan Stanley
401(k) Plan Employer ID Number: 20-8764829 Plan Number: 003 Financial Statements at December 31, 2019 and
2018, and for the Year Ended December 31, 2019,
Supplemental Schedule at December 31, 2019, and Report of Independent Registered Public Accounting Firm |
MORGAN STANLEY 401(k) PLAN
TABLE OF CONTENTS
| | Page |
| | |
| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 1 |
| | |
| FINANCIAL STATEMENTS: | |
| | |
| Statements of Net Assets Available for Benefits at December 31, 2019 and 2018 | 2 |
| | |
| Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2019 | 3 |
| | |
| Notes to Financial Statements at December 31, 2019 and 2018, and for the Year Ended December 31, 2019 | 4–17 |
| | |
| SUPPLEMENTAL SCHEDULE: | |
| | |
| Form 5500, Schedule H, Line 4i — Schedule of Assets (Held at End of Year) at December 31, 2019 | 18–70 |
| NOTE: | All other schedules required by section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, have been omitted because they are not applicable |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Plan Participants and Administrator of the
Morgan Stanley 401(k) Plan
New York, New York
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of Morgan Stanley 401(k) Plan (the "Plan") as of December 31, 2019 and 2018, the related statement of changes in net assets available for benefits for the year ended December 31, 2019, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019 and 2018, and the changes in net assets available for benefits for the year ended December 31, 2019, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2019 has been subjected to audit procedures performed in conjunction with the audit of the Morgan Stanley 401(k) Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information presented in the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated in all material respects in relation to the financial statements as a whole.
| |  |
| | |
| | Crowe LLP |
We have served as the Plan's auditor since 2014.
New York, New York
June 26, 2020
MORGAN STANLEY 401(k) PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AT DECEMBER 31, 2019 AND 2018
| | | 2019 | | 2018 |
| ASSETS: | | | | |
| Participant-directed investments at fair value | | $ | 12,197,615,656 | | | $ | 9,981,904,711 | |
| Receivables: | | | | | | | | |
| Employer contributions | | | 278,065,434 | | | | 271,566,711 | |
| Notes receivable from participants (Note 1) | | | 102,723,614 | | | | 103,826,360 | |
| Receivables for securities sold and other | | | 133,221,861 | | | | 156,508,739 | |
| Receivable from Solium Plan Custodian (Note 1) | | | 12,245,057 | | | | — | |
| Total Receivables | | | 526,255,966 | | | | 531,901,810 | |
| Total Assets | | | 12,723,871,622 | | | | 10,513,806,521 | |
| LIABILITIES: | | | | | | | | |
| Participant-directed investments at fair value | | | 16,707,206 | | | | 15,672,022 | |
| Payables for securities purchased and other | | | 211,827,128 | | | | 302,312,490 | |
| Total Liabilities | | | 228,534,334 | | | | 317,984,512 | |
| NET ASSETS AVAILABLE FOR BENEFITS | | $ | 12,495,337,288 | | | $ | 10,195,822,009 | |
See notes to the financial statements.
MORGAN STANLEY 401(k) PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2019
| ADDITIONS: | | |
| Net investment income: | | |
| Net appreciation in fair value of investments | | $ | 2,105,689,139 | |
| Dividends and interest | | | 131,719,702 | |
| Net investment income | | | 2,237,408,841 | |
| Contributions: | | | | |
| Employer contributions | | | 278,065,434 | |
| Participant contributions | | | 508,620,239 | |
| Rollover contributions | | | 77,515,308 | |
| Total contributions | | | 864,200,981 | |
| Interest income on notes receivable from participants | | | 5,438,920 | |
| Total additions | | | 3,107,048,742 | |
| DEDUCTIONS: | | | | |
| Benefits paid to participants | | | 807,374,668 | |
| Administrative fees | | | 12,673,746 | |
| Total deductions | | | 820,048,414 | |
| Net increase in net assets before plan merger | | | 2,287,000,328 | |
| Merger of Solium Plan net assets into Plan (Note 1) | | | 12,514,951 | |
| Net increase in net assets available for benefits | | | 2,299,515,279 | |
| NET ASSETS AVAILABLE FOR BENEFITS | | | | |
| Beginning of year | | | 10,195,822,009 | |
| End of year | | $ | 12,495,337,288 | |
See notes to the financial statements.
Morgan stanley 401(k) PLAN
NOTES TO FINANCIAL STATEMENTS
AT DECEMBER 31, 2019 AND 2018, AND FOR THE YEAR ENDED DECEMBER 31, 2019
| 1. | DESCRIPTION OF THE PLAN |
The following summary of the Morgan Stanley 401(k) Plan (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan document for more complete information. Terms used in this description have the same meaning as in the Plan document.
General — The Plan is a profit-sharing plan that includes a “qualified cash or deferred arrangement” as described in Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”), and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan’s interest in the Morgan Stanley Stock Fund is designated as an employee stock ownership plan within the meaning of Code section 4975(e)(7) to the extent provided in the Plan.
Morgan Stanley Domestic Holdings, Inc. (the “Plan Sponsor”) is a corporation wholly owned by Morgan Stanley Capital Management, LLC, a limited liability company whose sole member is Morgan Stanley (the “Company”). The Plan Sponsor has delegated certain functions to Morgan Stanley Services Group Inc. (“MSSG”), a corporation wholly owned by the Plan Sponsor as of December 31, 2019. The Company’s Chief Human Resources Officer or his or her delegate (the “Plan Administrator”) has the authority to control and manage the operation and administration of the Plan, make rules and regulations and take actions to administer the Plan. The Plan Administrator has delegated certain operational and administrative responsibilities to certain employees in the Company’s Human Resources department.
The Company acquired Solium Capital Inc. in the second quarter of 2019. In connection with the acquisition, the Solium Capital, LLC, 401(k) Retirement Plan (the “Solium Plan”) was merged into the Plan, and participants of the Solium Plan became members of the Plan effective at the close of business December 31, 2019. The final valuation for the Solium Plan was performed at market close on December 31, 2019 and the Solium Plan assets, including notes receivable from participants, were merged into the Plan’s assets.
All of the Plan’s investments are held in a trust account (“trust account”) at The Northern Trust Company, N.A. (the “Trustee”).
Eligibility — U.S. benefits-eligible employees, generally defined as full-time and part-time (regularly scheduled to work at least 50% of the Company’s standard work week) employees of participating companies are eligible to participate in the Plan upon hire.
Part-time employees who are regularly scheduled to work less than 50% of the Company’s standard work week may elect to commence participation in the Plan on the later of (A) the date their employment commences or (B) January 1, 2018, without regard to age.
Eligible participants who terminate employment and are later rehired by a participating company may participate in the Plan immediately upon rehire. As of December 31, 2019, individuals who are (a) classified by a participating company as non-U.S. benefits-eligible workers, interns, summer associates, contingent workers, leased workers, independent contractors or consultants, regardless of whether or not such classification is subsequently upheld for any purpose by a court or federal, state or local administrative authority; (b) covered by a collective bargaining agreement with respect to which a participating company is a party, unless such agreement provides for participation in the Plan; (c) first hired or transferred to a participating company while in an hourly status on or after July 1, 2004; or (d) Puerto Rico residents, are not eligible to participate in the Plan. See Note 7 for changes to eligible employees which occurred after December 31, 2019.
Employee Contributions — Eligible participants may elect to contribute before-tax or Roth after-tax contributions of 1% to 30% of eligible pay subject to Code limits ($19,000 for 2019). Those participants who have attained at least age 50 by the end of 2019 may elect an additional before-tax or Roth after-tax “Catch-Up Contribution” of 1% to 30% of eligible pay, subject to Code limits ($6,000 for 2019).
Certain eligible participants may also elect to contribute non-Roth after-tax contributions of 1% to 30% of eligible earnings. Participants eligible to make non-Roth after-tax contributions include eligible employees considered to be non-highly compensated employees (for 2019, employees who earned less than $270,061 during 2018). Participants may also contribute amounts representing eligible rollover distributions from other qualified retirement plans, excluding other qualified plans sponsored by the Company and its affiliates. All contributions are subject to certain Code limitations.
Company Contributions — In addition to the eligibility requirements for each type of Company Contribution described below, to be eligible for Company Contributions for any given Plan Year, a participant must be actively at work or on an authorized leave of absence on December 31 or, during the year, have terminated employment because of Retirement, Release, Total and Permanent Disability (each as defined by the Plan) or died. Company Contributions are generally credited to participant accounts during the first quarter of the year following the calendar year for which the contribution amounts are determined.
Company Match: The Plan-provided Company Match for 2019 was one dollar for each dollar of before-tax or Roth after-tax contributions that eligible participants contributed to the Plan, up to a maximum of 4% of eligible pay, up to the Code limit of $280,000. The maximum Company Match for 2019 was limited to $11,200. The Company Match is made at the discretion of the Plan Sponsor.
The 2019 Company Match contributions were invested according to each participant’s investment elections on file or in a default fund or funds, as selected by the Plan Administrator. The 2019 Company Match was $242,379,063, of which $6,130,696 was covered by forfeitures held by the trust account. The contribution was recorded as Employer contributions receivable at December 31, 2019 and paid in cash by the Company to the Plan in January 2020. The 2018 Company Match was $234,156,585, of which $6,783,579 was covered by forfeitures held by the trust account. The contribution was recorded as Employer contributions receivable at December 31, 2018 and paid in cash by the Company to the Plan in January 2019.
Fixed Contribution: Eligible employees with annualized base pay and eligible annual pay of $100,000 or less and who are not employed as Financial Advisors, Producing Assistant Branch Managers, Producing Branch Managers, or Producing Sales Managers (or equivalent title), Advisory Directors or Senior Advisors (or equivalent title) at December 31 and who are not Saxon employees of Morgan Stanley’s U.S. Residential Mortgage Business receive a Fixed Contribution of 2% of eligible pay regardless of whether they contribute to the Plan or receive a Company Match. The 2019 Fixed Contribution of $16,404,151 was recorded as Employer contributions receivable at December 31, 2019 and paid in cash by the Company in January 2020. The 2018 Fixed Contribution of $17,412,777 was recorded as Employer contributions receivable at December 31, 2018 and paid in cash by the Company in January 2019.
Citi Pension Transition Contributions: To be eligible for Citi Pension Transition Contributions, employees who transferred from Citigroup to the Company or its affiliates in connection with the formation of the Company’s Wealth Management business segment must have been notified by Citigroup that their prior plan benefit opportunity qualified them for transition contributions under the Citigroup 401(k) Plan and they must have been at least age 45 with five or more years of service, including prior Citigroup service, at December 31, 2010. Citi Pension Transition Contributions may be available for up to 10 Plan Years, beginning with the 2011 Plan year.
The Citi Pension Transition Contributions are based on the one-time calculation Citigroup performed to determine the percentage of annual eligible pay for the annual transition contributions under the Citigroup 401(k) Plan. The 2019 Citi Pension Transition Contribution of $2,024,063 was recorded as Employer contributions receivable at December 31, 2019 and paid in cash by the Company in January 2020. The 2018 Citi Pension Transition Contribution of $2,185,280 was recorded as Employer contributions receivable at December 31, 2018 and paid in cash by the Company in January 2019.
Morgan Stanley Transition Contribution: Eligible employees are those who earned a Morgan Stanley pension benefit or received a 401(k) Plan Retirement Contribution during 2010 and at December 31, 2010 were employed by a participating company and at least age 45 with five or more years of service. Eligible employees receive a Morgan Stanley Transition Contribution regardless of whether or not they contribute to the Plan. Morgan Stanley Transition Contributions may be available under the Plan for up to 10 Plan Years, beginning with the 2011 Plan Year.
The 2019 Morgan Stanley Transition Contribution of $23,388,853 was recorded as Employer contributions receivable at December 31, 2019 and paid in cash by the Company in January 2020. The 2018 Morgan Stanley Transition Contribution of $24,595,648 was recorded as Employer contributions receivable at December 31, 2018 and paid in cash by the Company in January 2019.
Participant Accounts — Individual accounts are maintained for each Plan participant. Each participant’s account is credited with the participant’s contributions, allocations of Company Contributions and Plan earnings, and charged with an allocation of Plan losses and administrative expenses not otherwise paid by the Plan Sponsor, and reduced by the amount of any benefit payments to such participant. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
Investments — Participants direct the investment of their contributions into various investment options offered by the Plan, which are subject to change from time to time. At December 31, 2019, the Plan offered four mutual funds, 21 commingled or collective trust funds, one employer stock fund, and 13 separately managed accounts.
The Plan is intended to meet the requirements of Section 404(c) of ERISA, with the result that participants, and no other fiduciaries, are responsible for the investment of their Plan accounts.
Employer Stock Provisions — The Morgan Stanley Stock Fund is invested primarily in “employer securities” (as defined in the Code), is designated an employee stock ownership plan to the extent provided in the Plan, and is subject to additional plan provisions, including the ability of eligible participants to elect to receive current cash dividend distributions relating to the Morgan Stanley Stock Fund.
Voting and Tender Rights — Each participant may direct a vote on shares of Company common stock in the Morgan Stanley Stock Fund that are allocated to his or her Plan account. Each participant is to be notified prior to the time that voting rights are to be exercised. Unvoted shares, including shares held in the Plan’s forfeiture account, are to be voted in the same proportion as the total actual votes cast by participants with respect to shares held in the Morgan Stanley Stock Fund for or against the matter under consideration. Similar rules apply to tender or other similar rights appurtenant to Company common stock held in the Morgan Stanley Stock Fund, except that shares for which no tender direction is given by the participant will not be tendered. If there is a tender for less than all shares or if there are more tender directions than can be satisfied, participant shares are to be tendered on a pro rata basis.
Vesting — Participants are vested immediately in their Employee Contributions plus earnings thereon. Generally, participants are vested in any Company Contributions upon the earlier of: (i) completion of three years of service, or (ii) termination of employment due to death, retirement, Release or Total and Permanent Disability, each as defined by the Plan. There is no partial vesting. A participant is always fully vested in dividends paid with respect to the Morgan Stanley Stock Fund.
Other — Certain reservists and persons who provide military service are entitled to additional rights under the Plan. Additional rules apply in the event that the Plan becomes top-heavy as described in the Code.
Forfeitures — Forfeitures are used to reduce the year-end Company Contributions and pay certain Plan expenses.
Notes Receivable from Participants — Generally, a participant may borrow up to the lesser of $50,000 or 50% of his/her vested Plan account (see Note 7). The loan is secured by the balance in the participant’s account and bears interest at a rate determined by the Plan Administrator. Fixed, Retirement and Transition Contributions, each as defined by the Plan, are not eligible for loans. Each loan processed incurs a $75 administrative fee. Generally, principal and interest are paid ratably through payroll deductions back to the individual participant’s account; participants may fully or partially pre-pay their loans without penalty. A participant may only have one outstanding loan at a time. Loans become due on termination of employment, except in the case of Release, in which case a participant may continue repayments for up to 12 months, or the due date for the loan, whichever is earlier (see Note 7).
Domestic Relations Orders — Generally, participants who submit a domestic relations order for qualification incur a $750 qualification fee which is paid from the participant’s and alternate payee’s accounts.
Payment of Benefits — Participants may elect to receive all or a portion of their vested account balance following termination of employment.
Participants may withdraw any vested amount allocated to their accounts while in service after attaining age 59-1/2. In the event of a hardship (as defined in the Plan), participants regardless of age may withdraw their vested Employee and Company Contributions to the extent permitted by the Plan. Voluntary Employee Contributions made before 1984 and after-tax Employee Contributions made after 1983 also may be withdrawn in service without regard to the participant’s age, subject to Plan terms. Payments are made in cash and/or in-kind in shares of Morgan Stanley stock at the direction of the participant. Non-hardship withdrawals are limited to eight per year.
A participant may elect to receive his or her vested interest in the Morgan Stanley Stock Fund in-kind. Shares are recorded electronically in book entry form on the records of the Company’s transfer agent, Broadridge Financial Solutions, Inc.
Plan Termination — Although it has not expressed any intent to do so, the Plan Sponsor (or its delegate, MSSG) has the right under the Plan to terminate the Plan subject to the provisions of ERISA. In such event, participants become fully vested in any Company Contributions to the extent required by the Code.
| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Accounting — The Plan’s financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Use of Estimates — The preparation of financial statements requires Plan management to make estimates and assumptions regarding the valuation of certain financial instruments that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from the estimates and assumptions used.
Administrative Expenses — Administrative expenses of the Plan are paid by the Plan, unless paid by the Plan Sponsor, as provided in the Plan document. The Plan Sponsor is under no obligation to pay the Plan’s administrative expenses.
Payment of Benefits — Benefit payments to participants are recorded upon distribution. Amounts allocated to participants who elected to withdraw from the Plan during the years ended December 31, 2019 and 2018 generally were paid prior to the respective year end. Amounts requested in the plan year but paid subsequent to the plan year were not significant.
Risks and Uncertainties — The Plan utilizes various investment options, including derivative instruments. Investments, in general, are exposed to various risks, such as interest rate, market liquidity and credit risks, as well as overall market volatility. Due to the level of risk associated with certain investments and the sensitivity of certain fair value estimates to changes in valuation assumptions, it is reasonably possible that changes in value of investments will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the financial statements.
Investment Valuation and Income Recognition — Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on an accrual basis. The cost of Plan investments is based on the average cost method for individual securities. Dividends are recorded on the ex-dividend date. Realized and unrealized gains and losses on investments are reflected in Net investment income (loss)—Net appreciation (depreciation) in fair value of investments. Management fees and operating expenses charged to each of the investment options under the Plan are deducted from income earned and are not separately reflected in the Statement of changes in net assets available for benefits. Consequently, management fees and operating expenses are reflected as a reduction of investment return for such investments.
The Plan’s investments and derivative instruments are measured at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date (see Note 6).
In determining fair value, the Plan uses various valuation approaches and establishes a hierarchy for inputs used in measuring fair value that requires the most observable inputs be used when available.
Observable inputs are inputs that market participants would use in pricing the asset or liability that were developed based on market data obtained from sources independent of the Plan. Unobservable inputs are inputs that reflect assumptions the Plan believes other market participants would use in pricing the asset or liability that are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the observability of inputs as follows, with Level 1 being the highest and Level 3 being the lowest level:
Level 1. Valuations based on quoted prices in active markets that the Plan has the ability to access for identical assets or liabilities. Valuation adjustments, block discounts and discounts for entity-specific restrictions that would not transfer to market participants are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
Level 2. Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3. Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
The availability of observable inputs can vary from product to product and is affected by a wide variety of factors, including the type of product, whether the product is new and not yet established in the marketplace, the liquidity of markets and other characteristics particular to the product. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Plan in determining fair value is greatest for instruments categorized in Level 3 of the fair value hierarchy.
The Plan considers prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2 or from Level 2 to Level 3 of the fair value hierarchy.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the total fair value amount is disclosed in the level appropriate for the lowest level input that is significant to the total fair value of the asset or liability.
Notes Receivable from Participants — Notes receivable from participants are measured at their unpaid principal balance. Interest is repaid monthly and any delinquent interest payments at December 31, 2019 and 2018 were not significant. Based on the terms of the Plan document, delinquent participant loans are recorded as distributions when a distributable event occurs.
| 3. | DERIVATIVE INSTRUMENTS AND REPURCHASE AGREEMENTS |
Derivative instruments are permitted in the Plan’s separately managed account (“Separate Account”) portfolios only to the extent that they comply with all of the Plan’s policy guidelines, and are consistent with the Plan’s risk and return objectives. In addition, derivative instruments may be used only if they are deemed to be more attractive than a similar direct investment in the underlying cash market, or if the investment vehicle is being used to manage the risk of the portfolio. Any use of derivative instruments may not result in exposure of the Plan to investment sectors that are otherwise prohibited under the investment guidelines.
The investment guidelines established with each Separate Account manager for the Plan set forth the guidelines for the commitments that an investment manager may make with respect to derivative instruments. Within the scope of the investment guidelines, the Plan may be invested in futures, options, swaps and forwards.
Market risk arises from adverse changes in the fair value of these contracts.
Futures, Options and Warrant — The trust account held certain fixed income future and option contracts in Separate Accounts at December 31, 2019 and 2018 within the PIMCO Core Fixed Income Fund, PIMCO Real Return Portfolio Fund, and PIMCO Low Duration Fund. The trust account held certain equity index future contracts in a Separate Account at December 31, 2019 and 2018 within AQR International Equity Fund. Both written and purchased options were held as underlying investments. When the investment manager purchases or writes an option, an amount equal to the premium paid or received by the Plan is recorded as an asset or liability and is subsequently adjusted to the current market value of the option written or purchased. The trust account held an equity warrant in a Separate Account at December 31, 2019 within the Artisan International Growth Fund. The fair value of these investments at December 31, 2019 and 2018 was not significant and the changes in fair value are accounted for as part of Net appreciation (depreciation) in fair value of investments in the Statement of changes in net assets available for benefits.
Swaps — Under the investment managers’ standard International Swap and Derivatives Association agreements, counterparty risk is limited by provisions which allow for the mutual exchange of collateral should a swap’s market value exceed $250,000. Further, the investment managers are instructed to restrict trading to only those counterparties with the largest capitalization and highest credit ratings in the industry. Investment manager policy is to execute swaps only with counterparties whose credit rating is A-/A3 or better, unless otherwise approved by the Plan. At December 31, 2019 and 2018, the investment assets held by the Plan included positions in interest rate swaps, credit default swaps, total return swaps, and inflation swaps. These assets were held in Separate Accounts at December 31, 2019 and 2018 within the PIMCO Core Fixed Income Fund, PIMCO Real Return Portfolio Fund, PIMCO Low Duration Fund and AQR International Equity Fund. The fair value of these investments at December 31, 2019 and 2018 was not significant and the changes in fair value are accounted for as part of Net appreciation (depreciation) in fair value of investments in the Statement of changes in net assets available for benefits.
Forwards — The Plan may enter into forward foreign currency contracts in order to hedge certain foreign currency denominated investments. Forward foreign currency commitments are generally entered into with counterparties of high credit quality; therefore, the risk of nonperformance by the counterparties is considered negligible. Additionally, the Plan’s investment guidelines require that the forward foreign currency contracts be restricted in their application and used for economic hedging purposes. The Plan held positions in forward foreign currency contracts in Separate Accounts at December 31, 2019 in the PIMCO Real Return Portfolio Fund, Artisan International Growth Fund, PIMCO Low Duration Fund, and AQR International Equity Fund and at December 31, 2018 in the PIMCO Real Return Portfolio Fund, Fidelity Institutional Asset Management Select International Small Growth Fund, Artisan International Growth Fund, PIMCO Low Duration Fund, and AQR International Equity Fund. The Plan also held positions in forward equity contracts in Separate Accounts at December 31, 2019 and 2018 in the AQR International Equity Fund. The fair value of these investments at December 31, 2019 and 2018 was not significant and the changes in fair value are accounted for as part of Net appreciation (depreciation) in fair value of investments in the Statement of changes in net assets available for benefits.
Securities sold under agreements to repurchase (“repurchase agreements”) — The investment managers, BlackRock and PIMCO, entered into several repurchase agreements. The fair value of these investments at December 31, 2019 and 2018 was not significant and the changes in fair value are accounted for as part of Net appreciation (depreciation) in fair value of investments in the Statement of changes in net assets available for benefits.
| 4. | EXEMPT PARTY-IN-INTEREST TRANSACTIONS |
Parties-in-interest include Plan fiduciaries, employees, participant employers and service providers, certain owners and certain relatives of such individuals, as defined by ERISA.
There were 39 and 40 investment options, respectively, available in the Plan at December 31, 2019 and 2018, of which two and three, respectively, were managed by Morgan Stanley Investment Management (“MSIM”), 36 were managed by third parties and one of which was an employer stock fund (Morgan Stanley Stock Fund). All party-in-interest investment options are in the Morgan Stanley Stock Fund, Northern Trust Short-Term Investment Fund, the funds managed by MSIM, an affiliate of the Plan Sponsor, and funds issued by PIMCO, Blackrock, Voya Financial Inc., AQR Capital Management, T. Rowe Price, William Blair, Rice Hall James, Artisan Partners, Fidelity Institutional Asset Management, Shenkman, Thompson, Siegel & Walmsley, and Westfield Capital Management Company.
Investments in and income related to common stock and funds issued by Morgan Stanley or its affiliates, including Mitsubishi UFJ Financial Group and MSIM, and notes receivables from participants are as follows:
Investments and receivables held by the Plan
| | | At | | At | | Year Ended |
| | | December 31, 2019 | | December 31, 2018 | | December 31, 2019 |
| Morgan Stanley common stock | | | | | | | | | | | | |
| Number of shares held | | | 33,678,328 | | | | 37,084,930 | | | | n/a | |
| Fair value of shares held | | $ | 1,721,636,127 | | | $ | 1,470,417,474 | | | | n/a | |
| Net realized gain | | | n/a | | | | n/a | | | $ | 66,916,519 | |
| Dividend income | | | n/a | | | | n/a | | | $ | 46,902,304 | |
| Mitsubishi UFJ Financial Group common stock | | | | | | | | | | | | |
| Number of shares held | | | 97,500 | | | | 195,000 | | | | n/a | |
| Fair value of shares held | | $ | 532,202 | | | $ | 956,027 | | | | n/a | |
| Investments in a Registered Investment Company issued by MSIM | | | | | | | | | | | | |
| Fair value of shares held | | $ | 1,130,761,764 | | | $ | 1,312,018,722 | | | | n/a | |
| Net realized gain | | | n/a | | | | n/a | | | $ | 137,742,886 | |
| Investments in a Collective Trust Fund issued by MSIM | | | | | | | | | | | | |
| Fair value of shares held | | $ | 158,600,627 | | | $ | 137,126,130 | | | | n/a | |
| Net realized gain | | | n/a | | | | n/a | | | $ | 783,386 | |
| Notes receivable from participants | | | | | | | | | | | | |
| Participant loans | | $ | 102,723,614 | | | $ | 103,826,360 | | | | n/a | |
| Interest income | | | n/a | | | | n/a | | | $ | 5,438,920 | |
Eligible participants of the Morgan Stanley Stock Fund may elect to receive current cash payment of dividends paid on the Morgan Stanley Stock Fund within the Plan, to the extent provided in the Plan.
Certain officers and employees of the Plan Sponsor (who may also be participants in the Plan) perform administrative services related to the operation, record keeping and financial reporting of the Plan. The Plan Sponsor pays these salaries and other administrative expenses on behalf of the Plan. Certain fees, including fees for the investment management services, to the extent not paid by the Plan Sponsor, are paid by the Plan. All direct and indirect fees paid by the Plan are considered party-in-interest transactions.
| 5. | FEDERAL INCOME TAX STATUS |
The Internal Revenue Service determined and informed the Plan Sponsor by a letter dated May 22, 2018, that the Plan and its related trust account continue to be designed in accordance with the applicable provisions of the Code. The Plan has been amended since receiving this letter, however, the Plan Sponsor and the Plan Administrator believe the Plan is currently designed and operated in compliance with the applicable requirements of the Code.
The Plan Sponsor has analyzed the tax positions taken by the Plan, and has concluded that at December 31, 2019 and 2018, there are no uncertain tax positions taken by the Plan that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits of the Plan for any tax periods in progress. The Plan Sponsor believes the Plan is no longer subject to income tax examinations for years prior to 2013.
| 6. | FAIR VALUE MEASUREMENTS |
The following descriptions of the valuation methods and assumptions used by the Plan to determine the fair values of investments apply to investments held directly by the Plan.
Registered Investment Companies – Mutual funds are registered with the Securities and Exchange Commission and are intended to meet the requirements of the Investment Company Act of 1940 with respect to income distribution, fee structure, and diversification of assets. Mutual funds are generally marked to quoted prices or net asset value (“NAV”) and are categorized in Level 1 of the fair value hierarchy if based upon prices which are observable in an active market. The PIMCO International Bond (Unhedged) fund requires the Trustee to calculate the fair value since the fund has a daily interest rate factor that pays a monthly dividend and therefore the fund is categorized as Level 2 of the fair value hierarchy. The Plan generally prohibits the sale of these investment options within 30 days of a purchase into that investment option.
Separate Accounts – The Plan holds investments in the Morgan Stanley Stock Fund (the “Fund”) holding Morgan Stanley common stock and containing a short-term investment fund to facilitate participant transactions into and out of the Fund. There are no unfunded commitments and no restricted redemption notice periods. The Company has specific rules that govern employee transactions in Morgan Stanley stock. Employees may transact in Morgan Stanley stock (including the Fund) only during a window period. Shorter window periods and prior approval requirements apply to those employees deemed Access Persons (as defined in the Company’s employee trading policy) by the Company. Access Persons who are members of the Company’s Management or Operating Committees are prohibited from selling the Fund within six months of a purchase.
The remaining Separate Accounts are professionally managed portfolios held by the Plan. The participants share in the appreciation and depreciation in proportion to their contribution to the Separate Account. Separate Accounts are administered and supervised by investment managers who decide how to invest funds contributed by investors, subject to written investment guidelines. At December 31, 2019 and 2018, the Plan’s Separate Accounts consisted of the T. Rowe Price U.S. Large-Cap Value Fund, the PIMCO Core Fixed Income Fund, the PIMCO Real Return Portfolio Fund, the PIMCO Low Duration Fund, the Shenkman Capital High Yield Bond Fund, the Fidelity Institutional Asset Management Select International Small Cap Fund, the Artisan International Growth Fund, the BlackRock Government Short Term Investment Fund, the Thompson, Siegel & Walmsley Mid Cap Value Fund, the William Blair Small Cap Value Fund, the Rice Hall James Small Cap Opportunities Fund, and AQR International Equity Fund. At December 31, 2019, the Plan’s Separate Accounts also consisted of the AQR Emerging Equities Collective Investment Fund and the Westfield Mid Cap Growth Equity Fund. At December 31, 2018, the Plan’s Separate Accounts also consisted of the Voya Mid Cap Growth Fund. The Trustee is responsible for determining the Separate Accounts’ fair value. Terms of the agreements with the investment managers (“Investment Management Agreements”) for the Separate Accounts permit the termination of the Investment Management Agreements and the distribution of the Separate Accounts’ securities at fair value. There were no unfunded commitments and no restricted redemption notice periods. The Plan generally prohibits the sale of these investment options within 30 days of a purchase into that investment option.
A description of the valuation methods and assumptions applied to the major categories of the Fund and the Separate Accounts are as follows:
Corporate equities
Corporate equities, including Morgan Stanley common stock, are exchange-traded equity securities that are generally valued based on quoted prices from the exchange. To the extent these securities are actively traded, valuation adjustments are not applied. Corporate equities are categorized in Level 1 of the fair value hierarchy. Stapled securities, consisting of two or more corporate equity securities that are contractually bound to form a single salable unit that cannot be bought or sold separately, are categorized in Level 2 of the fair value hierarchy.
Cash and cash equivalents
Cash and cash equivalents are valued at cost, which approximates fair value and are categorized in Level 1 of the fair value hierarchy.
Government and agency securities
Government and agency securities are valued using factors which include but are not limited to market quotations, yields, maturities, and the bond’s terms and conditions. U.S. Treasury securities, valued using quoted market prices, are categorized in Level 1 of the fair value hierarchy. Callable agency-issued debt securities are valued by benchmarking model-derived prices to quoted market prices and trade data for comparable instruments. The fair value of agency mortgage pass-through pool securities is model-driven based on spreads of a comparable to be announced security. For index linked securities, the market price is adjusted daily by the appropriate index factor. The fair value of state and municipal securities is determined using recently executed transactions, market price quotations or pricing models that factor in, where applicable, interest rates, bond or CDS spreads and volatility. Callable agency-issued debt securities, agency mortgage pass-through pool securities, index linked securities, and state and municipal government securities are generally categorized in Level 2 of the fair value hierarchy.
Corporate debt instruments
Corporate debt instruments are composed of corporate bonds, corporate loans and asset-backed securities. Corporate bonds and corporate loans are valued using factors which include but are not limited to recently executed transactions, observable market price quotations and spreads. Asset-backed securities may be valued based on price or spread data obtained from observed transactions or independent external parties such as vendors or brokers. When position-specific external price data are not observable, the fair value determination may require benchmarking to similar securities. For index linked securities, the market price is adjusted daily by the appropriate index factor. Corporate debt instruments are categorized in Level 2 of the fair value hierarchy.
Derivative instruments
Depending on the product and terms of the transaction, the fair value of over-the-counter (“OTC”) derivative products can be either observed or modeled using a series of techniques and model inputs from comparable benchmarks, including closed-form analytic formulas, such as the Black-Scholes option-pricing model, and simulation models or a combination thereof. Many pricing models do not entail material subjectivity as the methodologies employed do not necessitate significant judgment, since model inputs may be observed from actively quoted markets, as is the case for generic interest rate swaps and certain option contracts. Interest rate swaps are valued using observable inputs. Listed derivatives that are not actively traded are valued using the same approaches as those applied to OTC derivatives. Derivative instruments are categorized in Level 2 of the fair value hierarchy.
Repurchase agreements
The fair value of repurchase agreements is computed using a standard cash flow discounting methodology. The inputs to the valuation include contractual cash flows and collateral funding spreads which are estimated using various benchmarks, interest rate yield curves and option volatilities. Repurchase agreements are categorized in Level 2 of the fair value hierarchy.
Collective Trust Funds – Each investment is administered and supervised by its respective investment manager who decides how to invest the contributed funds. The Collective Trust Funds do not have a readily determinable fair value. The fair values of participating units held in the Collective Trust Funds are valued by the investment managers at NAVs and recent transaction prices and therefore are not required to be categorized by Levels of the fair value hierarchy. If there is a fee accrual, the Trustee is responsible for determining the fair value. At December 31, 2019 and 2018, the Plan held investments in funds managed by State Street Global Advisors, BlackRock, Inc., Wellington Management, and Morgan Stanley Investment Management. At December 31, 2019, the Plan also held investments in a fund managed by AQR Capital Management. Terms of the applicable Collective Trust Fund Agreements and/or Investment Management Agreements permit the termination of the agreement and the receipt of the fund securities at fair value within 30 days. There were no unfunded commitments and no restricted redemption notice periods. Other than certain funds managed by State Street Global Advisors and BlackRock, Inc., from which the Plan does not restrict the frequency of redemptions, the Plan generally prohibits the sale of the Collective Trust Fund investment options within 30 days of a purchase into that investment option.
| | | Plan's Investment Assets and Liabilities at Fair Value at December 31, 2019 |
| | | Quoted Prices in | | Significant Other | | Significant | | |
| | | Active Markets for | | Observable Inputs | | Unobservable | | |
| | | Identical Assets | | | | Inputs | | |
| | | | | | | | | |
| Investment Assets: | | Level 1 | | Level 2 | | Level 3 | | Total |
| | | | | | | | | |
| Registered Investment Companies | | $ | 1,172,736,168 | | | $ | 38,622,379 | | | $ | — | | | $ | 1,211,358,547 | |
| Separately Managed Accounts | | | | | | | | | | | | | | | | |
| Corporate equities | | | 3,886,793,067 | | | | 1,606,256 | | | | — | | | | 3,888,399,323 | |
| Cash and cash equivalents | | | 63,018,148 | | | | — | | | | — | | | | 63,018,148 | |
| Government and agency securities | | | | | | | | | | | | | | | | |
| U.S. Treasury and agency securities | | | 161,062,591 | | | | 838,956,909 | | | | — | | | | 1,000,019,500 | |
| Other sovereign government obligations | | | — | | | | 15,871,412 | | | | — | | | | 15,871,412 | |
| State and municipal securities | | | — | | | | 5,176,909 | | | | — | | | | 5,176,909 | |
| Total Government and agency securities | | | 161,062,591 | | | | 860,005,230 | | | | — | | | | 1,021,067,821 | |
| Corporate debt instruments | | | — | | | | 241,398,036 | | | | — | | | | 241,398,036 | |
| Derivative instruments | | | — | | | | 16,707,478 | | | | — | | | | 16,707,478 | |
| Repurchase agreements | | | — | | | | 5,800,000 | | | | — | | | | 5,800,000 | |
| | | | 4,110,873,806 | | | | 1,125,517,000 | | | | — | | | | 5,236,390,806 | |
| | | | | | | | | | | | | | | | | |
| Collective Trust Funds * | | | | | | | | | | | | | | | 5,749,866,303 | |
| | | | | | | | | | | | | | | | | |
| Participant-directed investments | | | | | | | | | | | | | | $ | 12,197,615,656 | |
| | | | | | | | | | | | | | | | | |
| Investment Liabilities: | | | | | | | | | | | | | | | | |
| Separately Managed Accounts | | | | | | | | | | | | | | | | |
| Government and agency securities | | | | | | | | | | | | | | | | |
| U.S. Treasury and agency securities | | | — | | | | 5,053,848 | | | | — | | | | 5,053,848 | |
| Derivative instruments | | | 1,516,221 | | | | 10,137,137 | | | | — | | | | 11,653,358 | |
| Participant-directed investments | | $ | 1,516,221 | | | $ | 15,190,985 | | | $ | — | | | $ | 16,707,206 | |
| * | Amounts represent certain investments that are measured at fair value using the NAV per share, which are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the participant-directed investments presented in the Statement of net assets available for benefits. |
| | | Plan's Investment Assets and Liabilities at Fair Value at December 31, 2018 |
| | | Quoted Prices in | | Significant Other | | Significant | | |
| | | Active Markets for | | Observable Inputs | | Unobservable | | |
| | | Identical Assets | | | | Inputs | | |
| | | | | | | | | |
| | | Level 1 | | Level 2 | | Level 3 | | Total |
Investment Assets: | | | | | | | | |
Registered Investment Companies | | $ | 1,376,068,724 | | | $ | 36,254,872 | | | $ | — | | | $ | 1,412,323,596 | |
Separately Managed Accounts | | | | | | | | | | | | | | | | |
Corporate equities
| | | 3,306,299,802 | | | | 2,521,659 | | | | — | | | | 3,308,821,461 | |
| Cash and cash equivalents | | | 55,260,076 | | | | — | | | | — | | | | 55,260,076 | |
Government securities
| | | | | | | | | | | | | | | | |
U.S. Treasury and agency securities
| | | 130,403,058 | | | | 746,219,549 | | | | — | | | | 876,622,607 | |
| Other sovereign government obligations | | | — | | | | 20,656,700 | | | | — | | | | 20,656,700 | |
| State and municipal securities | | | — | | | | 4,387,453 | | | | — | | | | 4,387,453 | |
Total government securities
| | | 130,403,058 | | | | 771,263,702 | | | | — | | | | 901,666,760 | |
| Corporate debt instruments | | | — | | | | 230,553,381 | | | | — | | | | 230,553,381 | |
| Derivative instruments | | | — | | | | 12,404,512 | | | | — | | | | 12,404,512 | |
| Repurchase agreements | | | — | | | | 39,600,000 | | | | — | | | | 39,600,000 | |
| | | | 3,491,962,936 | | | | 1,056,343,254 | | | | — | | | | 4,548,306,190 | |
Collective Trust Funds * | | | | | | | | | | | | | | | 4,021,274,925 | |
| | | | | | | | | | | | | | | | | |
| Participant-directed investments | | | | | | | | | | | | | | $ | 9,981,904,711 | |
| | | | | | | | | | | | | | | | | |
Investment Liabilities: | | | | | | | | | | | | | | | | |
| Participant-directed derivative investments | | $ | 1,690,136 | | | $ | 13,981,886 | | | $ | — | | | $ | 15,672,022 | |
| * | Amounts represent certain investments that are measured at fair value using the NAV per share, which are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the participant-directed investments presented in the Statement of net assets available for benefits. |
Effective January 1, 2020, hourly employees are eligible to participate in the Plan.
Beginning May 15 and ending December 31, 2020, certain eligible employees may withdraw up to $100,000 from the Plan, or may delay payments for up to 12 months for any loans outstanding as of December 31, 2020, in accordance with the Coronavirus Aid, Relief and Economic Security (CARES) Act. In addition, beginning May 29 and ending September 23, 2020, certain eligible employees may borrow up to $100,000 from the Plan in accordance with the CARES Act.
The coronavirus disease (“COVID-19”) pandemic and related government-imposed shelter-in-place restrictions have had, and will likely continue to have, a severe impact on global economic conditions and the environment in which the Plan operates. The future impact on plan assets of economic and market conditions related to COVID-19 is uncertain and depends on the scope and duration of the pandemic and any recovery period, and future actions taken by governmental authorities, central banks and other third parties in response to the pandemic, among other factors.
SUPPLEMENTAL SCHEDULE
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Registered Investment Companies | | | | |
| * | MSIF | MSIF Inc. Growth Portfolio Fund | | $ | 1,130,761,764 |
| * | Northern Trust | Northern Trust Global Sustainability Index Fund | | | 26,733,133 |
| | Pax | Pax Global Environmnetal Markets Fund | | | 15,241,271 |
| * | PIMCO | PIMCO International Bond Fund (Unhedged) | | | 38,622,379 |
| | | | | | |
| | Corporate equities | | | | |
| | 5Th 3Rd Bancorp | 475,171 Shares of Common Stock | | | 14,606,757 |
| | Aalberts Nv | 12,900 Shares of Common Stock | | | 579,355 |
| | Aareal Bank Ag | 22,660 Shares of Common Stock | | | 769,435 |
| | Abbvie Inc | 101,277 Shares of Common Stock | | | 8,967,066 |
| | Abc-Mart Inc | 1,200 Shares of Common Stock | | | 82,153 |
| | Acadia Rlty Tr | 90,844 Shares of Common Stock | | | 2,355,585 |
| | Aci Worldwide Inc | 128,254 Shares of Common Stock | | | 4,858,903 |
| | Acs Actividades Co | 23,797 Shares of Common Stock | | | 952,288 |
| | Adapteo Oyj | 20,400 Shares of Common Stock | | | 250,569 |
| | Adecco Group Ag | 24,546 Shares of Common Stock | | | 1,551,821 |
| | Adidas Ag | 7,064 Shares of Common Stock | | | 2,297,923 |
| | Adr Alibaba Group Holding Ltd | 11,179 Shares of Common Stock | | | 2,371,066 |
| | Adr Amarin Corp Plc | 131,400 Shares of Common Stock | | | 2,817,216 |
| | Adr Ascendis Pharma | 52,690 Shares of Common Stock | | | 7,330,233 |
| | Adr Criteo S A | 113,320 Shares of Common Stock | | | 1,963,836 |
| | Adr Mix Telematics Ltd | 48,997 Shares of Common Stock | | | 635,491 |
| | Adr Nice Ltd | 42,642 Shares of Common Stock | | | 6,615,906 |
| | Adr Petroleo Brasileiro Sa Petrobras | 257,327 Shares of Common Stock | | | 4,101,792 |
| | Adr Total Sa | 411,986 Shares of Common Stock | | | 22,782,826 |
| | Adr Wns Hldgs Ltd | 73,949 Shares of Common Stock | | | 4,891,726 |
| | Adyen Nv | 2,641 Shares of Common Stock | | | 2,167,066 |
| | Aeon Delight Co.Ltd. | 15,300 Shares of Common Stock | | | 552,588 |
| | Aeon Financial Service Co Ltd | 26,800 Shares of Common Stock | | | 425,890 |
| | Aercap Holdings | 29,926 Shares of Common Stock | | | 1,839,551 |
| | Aerie Pharmaceuticals Inc | 80,129 Shares of Common Stock | | | 1,936,718 |
| | Agc Inc | 6,200 Shares of Common Stock | | | 224,210 |
| | Ageas | 26,936 Shares of Common Stock | | | 1,592,815 |
| | Agree Rlty Corp | 20,094 Shares of Common Stock | | | 1,409,996 |
| | Aia Group Ltd | 763,000 Shares of Common Stock | | | 8,010,139 |
| | Aimmune Therapeutics Inc | 46,642 Shares of Common Stock | | | 1,561,108 |
| | Air Liquide(L') | 60,994 Shares of Common Stock | | | 8,640,380 |
| | Airbus Se | 55,922 Shares of Common Stock | | | 8,190,550 |
| | Akebia Therapeutics Inc | 89,888 Shares of Common Stock | | | 568,092 |
| | Alaska Air Group Inc | 25,300 Shares of Common Stock | | | 1,714,075 |
| | Alcon Ag | 60,800 Shares of Common Stock | | | 3,439,456 |
| | Alexandria Real Estate Equities Inc | 26,910 Shares of Common Stock | | | 4,348,118 |
| | Alfresa Holdings | 21,900 Shares of Common Stock | | | 448,983 |
| | Alleghany Corp Del | 3,800 Shares of Common Stock | | | 3,038,366 |
| | Allianz Se | 37,024 Shares of Common Stock | | | 9,076,583 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Allstate Corp | 22,600 Shares of Common Stock | | $ | 2,541,370 |
| | Ally Finl Inc | 29,800 Shares of Common Stock | | | 910,688 |
| | Alphabet Inc | 3,633 Shares of Common Stock | | | 4,861,735 |
| | Alps Alpine Co Ltd | 48,000 Shares of Common Stock | | | 1,100,676 |
| | Alstom | 2,455 Shares of Common Stock | | | 116,375 |
| | Alten | 6,600 Shares of Common Stock | | | 833,456 |
| | Altice Usa Inc | 213,330 Shares of Common Stock | | | 5,832,442 |
| | Amada Holdings Co Ltd | 7,300 Shares of Common Stock | | | 83,966 |
| | Amazon Com Inc | 2,517 Shares of Common Stock | | | 4,651,013 |
| | American Assets Tr Inc | 51,919 Shares of Common Stock | | | 2,383,082 |
| | American International Group Inc | 386,381 Shares of Common Stock | | | 19,832,937 |
| | Americold Rlty Tr | 76,282 Shares of Common Stock | | | 2,674,447 |
| | Amerisourcebergen Corp | 25,600 Shares of Common Stock | | | 2,176,512 |
| | Ametek Inc | 59,300 Shares of Common Stock | | | 5,914,582 |
| | Amundi | 22,245 Shares of Common Stock | | | 1,745,404 |
| | Ana Holdings Inc | 5,000 Shares of Common Stock | | | 167,564 |
| | Anglo American | 40,148 Shares of Common Stock | | | 1,155,733 |
| | Annaly Cap Mgmt Inc | 349,300 Shares of Common Stock | | | 3,290,406 |
| | Anritsu Corp | 35,400 Shares of Common Stock | | | 706,208 |
| | Antero Res Corp | 202,824 Shares of Common Stock | | | 578,048 |
| | Antofagasta Ord | 23,310 Shares of Common Stock | | | 283,107 |
| | Aon Plc | 32,572 Shares of Common Stock | | | 6,784,422 |
| | Aozora Bank | 9,600 Shares of Common Stock | | | 255,382 |
| | Applied Materials Inc | 287,734 Shares of Common Stock | | | 17,563,284 |
| | Aramark | 32,100 Shares of Common Stock | | | 1,393,140 |
| | Arcadis Nv | 40,500 Shares of Common Stock | | | 944,685 |
| | Arch Capital Group | 56,500 Shares of Common Stock | | | 2,423,285 |
| | Archrock Inc | 181,526 Shares of Common Stock | | | 1,822,521 |
| | Armstrong World Inds Inc | 42,196 Shares of Common Stock | | | 3,965,158 |
| | As One Corporation | 8,500 Shares of Common Stock | | | 798,574 |
| | Ashtead Group Ord | 5,216 Shares of Common Stock | | | 166,805 |
| | Asm Pacific Tech | 57,800 Shares of Common Stock | | | 801,892 |
| | Asml Holding Nv | 12,406 Shares of Common Stock | | | 3,672,217 |
| | Assa Abloy | 5,392 Shares of Common Stock | | | 126,145 |
| | Assic Generali Spa | 198,720 Shares of Common Stock | | | 4,103,248 |
| | Assocd Brit Foods Ord | 10,412 Shares of Common Stock | | | 358,350 |
| | Astellas Pharma | 217,500 Shares of Common Stock | | | 3,742,581 |
| | Astrazeneca Ord | 16,740 Shares of Common Stock | | | 1,686,952 |
| | Atea Asa | 34,800 Shares of Common Stock | | | 509,290 |
| | Atos Se | 12,501 Shares of Common Stock | | | 1,042,886 |
| | Aurizon Holdings | 175,223 Shares of Common Stock | | | 644,195 |
| | Ausnet Services | 433,068 Shares of Common Stock | | | 517,523 |
| | Aust & NZ Bank Group | 12,100 Shares of Common Stock | | | 209,495 |
| | Auto Trader Group Ord | 9,925 Shares of Common Stock | | | 78,179 |
| | Aveva Group Ord | 42,293 Shares of Common Stock | | | 2,608,647 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Aviva Ord | 294,245 Shares of Common Stock | | $ | 1,632,097 |
| | Avnet Inc | 47,596 Shares of Common Stock | | | 2,019,974 |
| | Axa | 76,054 Shares of Common Stock | | | 2,143,656 |
| | Axos Finl Inc | 101,581 Shares of Common Stock | | | 3,075,873 |
| | Azbil Corp | 36,000 Shares of Common Stock | | | 1,021,946 |
| | B & M European Value Retail Sa Ord | 257,668 Shares of Common Stock | | | 1,398,152 |
| | Bae Systems Ord | 141,401 Shares of Common Stock | | | 1,057,989 |
| | Baker Hughes Co | 49,300 Shares of Common Stock | | | 1,263,559 |
| | Balfour Beatty | 166,300 Shares of Common Stock | | | 575,880 |
| | Baloise Holding Ag | 3,810 Shares of Common Stock | | | 688,542 |
| | Banc Calif Inc | 97,317 Shares of Common Stock | | | 1,671,906 |
| | Bank Ozk | 58,760 Shares of Common Stock | | | 1,792,474 |
| | Bankinter Sa | 72,900 Shares of Common Stock | | | 534,515 |
| | Banner Corp Com | 38,385 Shares of Common Stock | | | 2,172,207 |
| | Bapcor Ltd | 175,073 Shares of Common Stock | | | 787,632 |
| | Barclays Plc Ord | 573,418 Shares of Common Stock | | | 1,364,609 |
| | Barratt Developments Ord | 127,614 Shares of Common Stock | | | 1,262,177 |
| | Barry Callebaut Ag | 340 Shares of Common Stock | | | 750,679 |
| | Bayer Ag | 50,832 Shares of Common Stock | | | 4,154,460 |
| | Bbva(Bilb-Viz-Arg) | 326,483 Shares of Common Stock | | | 1,826,156 |
| | Beazley Plc (Uk) Ord | 112,100 Shares of Common Stock | | | 825,685 |
| | Becton Dickinson & Co | 29,247 Shares of Common Stock | | | 7,954,307 |
| | Becton Dickinson & Co Dep Shs Repstg | 28,293 Shares of Common Stock | | | 1,852,060 |
| | Befimmo Sa | 13,535 Shares of Common Stock | | | 821,943 |
| | Belden Inc | 42,675 Shares of Common Stock | | | 2,347,125 |
| | Berkley Gp Holdings | 15,499 Shares of Common Stock | | | 997,664 |
| | Bezeq Israel Telcm | 558,600 Shares of Common Stock | | | 448,788 |
| | BHP Group Limited | 55,112 Shares of Common Stock | | | 1,507,799 |
| | Bhp Group Plc Ord | 63,926 Shares of Common Stock | | | 1,504,700 |
| | Bilfinger Se | 11,633 Shares of Common Stock | | | 451,547 |
| | Binggrae | 9,954 Shares of Common Stock | | | 482,013 |
| | Biomarin Pharmaceutical Inc | 45,940 Shares of Common Stock | | | 3,884,227 |
| | Biospecifics Technologies Corp | 23,651 Shares of Common Stock | | | 1,346,688 |
| | Bjs Restaurants Inc | 6,583 Shares of Common Stock | | | 249,891 |
| | Black Hills Corp | 32,333 Shares of Common Stock | | | 2,539,434 |
| | Bluescope Steel | 195,339 Shares of Common Stock | | | 2,067,942 |
| | Bnk Financial Group Inc | 77,162 Shares of Common Stock | | | 511,099 |
| | Bnp Paribas | 92,228 Shares of Common Stock | | | 5,469,276 |
| | Boeing Co | 38,084 Shares of Common Stock | | | 12,406,244 |
| | Boingo Wireless Inc | 137,479 Shares of Common Stock | | | 1,505,395 |
| | Boston Private Finl Hldgs Inc | 163,292 Shares of Common Stock | | | 1,964,403 |
| | Bouygues | 5,466 Shares of Common Stock | | | 232,416 |
| | Boyd Gaming Corp | 81,925 Shares of Common Stock | | | 2,452,835 |
| | Bqe Cant Vaudoise | 880 Shares of Common Stock | | | 717,922 |
| | Brady Corp | 75,880 Shares of Common Stock | | | 4,344,889 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Brambles Ltd | 72,572 Shares of Common Stock | | $ | 597,890 |
| | Brembo Spa | 57,100 Shares of Common Stock | | | 708,888 |
| | Brigham Minerals Inc | 59,541 Shares of Common Stock | | | 1,276,559 |
| | British American Tobacco Ord | 24,419 Shares of Common Stock | | | 1,045,360 |
| | Britvic Ord | 37,402 Shares of Common Stock | | | 448,164 |
| | Brother Industries | 34,800 Shares of Common Stock | | | 727,222 |
| | Brunello Cucinelli | 14,500 Shares of Common Stock | | | 513,679 |
| | Bt Group Ord | 574,488 Shares of Common Stock | | | 1,464,570 |
| | Bucher Industries | 2,170 Shares of Common Stock | | | 761,466 |
| | Bunge Ltd | 128,414 Shares of Common Stock | | | 7,390,226 |
| | Burberry Group Ord | 29,130 Shares of Common Stock | | | 850,909 |
| | Buzzi Unicem Spa | 34,100 Shares of Common Stock | | | 859,324 |
| | C&C Group | 156,006 Shares of Common Stock | | | 840,109 |
| | Cairn Homes Plc Ord | 515,135 Shares of Common Stock | | | 730,894 |
| | Calamp Corp | 69,265 Shares of Common Stock | | | 663,559 |
| | Callon Pete Co Del | 376,720 Shares of Common Stock | | | 1,819,558 |
| | Capcom Co Ltd | 34,300 Shares of Common Stock | | | 956,329 |
| | Capgemini | 7,272 Shares of Common Stock | | | 888,931 |
| | Cardinal Hlth Inc | 18,200 Shares of Common Stock | | | 920,556 |
| | Carlsberg | 1,998 Shares of Common Stock | | | 298,274 |
| | Carnival Corp | 143,829 Shares of Common Stock | | | 7,310,828 |
| | Carnival Plc Ord | 2,430 Shares of Common Stock | | | 117,306 |
| | Carpenter Technology Corp | 40,226 Shares of Common Stock | | | 2,002,450 |
| | Carrefour Sa | 11,907 Shares of Common Stock | | | 199,816 |
| | Carter Inc Formerly Carter Hldgs Inc | 74,852 Shares of Common Stock | | | 8,184,317 |
| | Cdk Global Inc | 32,500 Shares of Common Stock | | | 1,777,100 |
| | Centene Corp Del | 15,500 Shares of Common Stock | | | 974,485 |
| | Centerpoint Energy Inc | 329,890 Shares of Common Stock | | | 8,996,100 |
| | Centrica Ord | 552,875 Shares of Common Stock | | | 654,052 |
| | Century Casinos Inc | 162,843 Shares of Common Stock | | | 1,289,717 |
| | Cerved Group | 52,700 Shares of Common Stock | | | 514,359 |
| | Ceva Inc | 116,546 Shares of Common Stock | | | 3,142,080 |
| | Cf Inds Hldgs Inc | 174,534 Shares of Common Stock | | | 8,332,253 |
| | Challenger Ltd | 93,287 Shares of Common Stock | | | 530,511 |
| | Cheesecake Factory Inc | 43,467 Shares of Common Stock | | | 1,689,128 |
| | Chubb Ltd Ord | 122,251 Shares of Common Stock | | | 19,029,591 |
| | Cie De St-Gobain | 33,633 Shares of Common Stock | | | 1,377,986 |
| | Cimic Group Limited | 38,412 Shares of Common Stock | | | 894,837 |
| | Cimpress Plc | 24,219 Shares of Common Stock | | | 3,046,024 |
| | Cinemark Hldgs Inc | 45,193 Shares of Common Stock | | | 1,529,783 |
| | Cisco Systems Inc | 259,600 Shares of Common Stock | | | 12,450,416 |
| | Cit Group Inc | 39,400 Shares of Common Stock | | | 1,797,822 |
| | Citigroup Inc | 65,684 Shares of Common Stock | | | 5,247,495 |
| | Ck Asset Holdings Ltd | 406,000 Shares of Common Stock | | | 2,930,966 |
| | Ck Hutchison Holdings | 59,500 Shares of Common Stock | | | 567,372 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Cloetta Ab | 172,500 Shares of Common Stock | | $ | 584,149 |
| | Clp Holdings Ltd | 60,500 Shares of Common Stock | | | 635,919 |
| | Cno Finl Group Inc | 99,589 Shares of Common Stock | | | 1,805,549 |
| | Coca-Cola Hbc Ag Ord | 15,838 Shares of Common Stock | | | 538,173 |
| | Cognizant Tech Solutions Corp | 143,332 Shares of Common Stock | | | 8,889,451 |
| | Collegium Pharmaceutical Inc | 71,473 Shares of Common Stock | | | 1,470,914 |
| | Colony Cap Inc | 196,605 Shares of Common Stock | | | 933,874 |
| | Comcast Corp | 241,909 Shares of Common Stock | | | 10,878,648 |
| | Comfortdelgro Corp Ltd | 400,900 Shares of Common Stock | | | 709,584 |
| | Compass Group Ord | 16,819 Shares of Common Stock | | | 421,110 |
| | Compugroup Medical | 12,200 Shares of Common Stock | | | 873,024 |
| | Conagra Brands Inc | 229,800 Shares of Common Stock | | | 7,868,352 |
| | Conmed Corp | 34,144 Shares of Common Stock | | | 3,818,324 |
| | Contact Energy | 70,200 Shares of Common Stock | | | 337,680 |
| | Cooper Cos Inc | 17,120 Shares of Common Stock | | | 5,500,485 |
| | Cornerstone Ondemand Inc | 25,024 Shares of Common Stock | | | 1,465,155 |
| | Corteva Inc | 73,800 Shares of Common Stock | | | 2,181,528 |
| | Coty Inc | 45,900 Shares of Common Stock | | | 516,375 |
| | Covestro Ag | 1,679 Shares of Common Stock | | | 78,120 |
| | Cracker Barrel Old Country Store | 11,360 Shares of Common Stock | | | 1,746,486 |
| | Cranswick Ord | 15,113 Shares of Common Stock | | | 678,710 |
| | Credit Agricole Sa | 22,163 Shares of Common Stock | | | 321,548 |
| | Crown Resorts Limited | 21,069 Shares of Common Stock | | | 177,874 |
| | CSL Ltd | 2,784 Shares of Common Stock | | | 539,666 |
| | Curtiss Wright Corp | 31,193 Shares of Common Stock | | | 4,394,782 |
| | Cusip Change Equitable Hldgs | 235,539 Shares of Common Stock | | | 5,836,656 |
| | Cvs Health Corp | 208,404 Shares of Common Stock | | | 15,482,333 |
| | Cypress Semiconductor Corp | 80,127 Shares of Common Stock | | | 1,869,363 |
| | D R Horton Inc | 56,860 Shares of Common Stock | | | 2,999,365 |
| | Dah Sing Financial | 152,000 Shares of Common Stock | | | 598,886 |
| | Dai-Ichi Life Hold | 21,300 Shares of Common Stock | | | 356,029 |
| | Daikin Industries | 3,400 Shares of Common Stock | | | 483,368 |
| | Daikyonishikawa Corporation | 56,600 Shares of Common Stock | | | 445,300 |
| | Daiwa House Inds | 11,600 Shares of Common Stock | | | 361,850 |
| | Daiwa Office Investment Corp Reit | 105 Shares of Common Stock | | | 805,797 |
| | Dana Inc | 111,077 Shares of Common Stock | | | 2,021,601 |
| | Danske Bank | 14,344 Shares of Common Stock | | | 232,279 |
| | Darling Ingredients Inc | 104,684 Shares of Common Stock | | | 2,939,527 |
| | Dassault Aviation | 192 Shares of Common Stock | | | 252,158 |
| | Dassault Systemes | 6,490 Shares of Common Stock | | | 1,067,621 |
| | Dave & Busters Entmt Inc | 99,010 Shares of Common Stock | | | 3,977,232 |
| | Dechra Pharma Ord | 18,300 Shares of Common Stock | | | 703,045 |
| | Deutsche Boerse Ag | 80,703 Shares of Common Stock | | | 12,696,066 |
| | Deutsche Lufthansa Ord | 22,530 Shares of Common Stock | | | 415,008 |
| | Deutsche Post Ag | 160,445 Shares of Common Stock | | | 6,125,185 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Deutsche Telekom | 44,546 Shares of Common Stock | | $ | 728,542 |
| | Deutsche Wohnen Se | 7,406 Shares of Common Stock | | | 302,768 |
| | Dexcom Inc | 31,250 Shares of Common Stock | | | 6,835,625 |
| | Dexus Property Group | 101,980 Shares of Common Stock | | | 838,736 |
| | Diageo Ord Plc | 106,370 Shares of Common Stock | | | 4,509,942 |
| | Direct Line Insurance Plc Ord | 225,053 Shares of Common Stock | | | 931,684 |
| | Disco Corporation | 3,000 Shares of Common Stock | | | 714,976 |
| | Discovery Inc | 39,869 Shares of Common Stock | | | 1,215,606 |
| | Dish Network Corp | 51,100 Shares of Common Stock | | | 1,812,517 |
| | Dollar Tree Inc | 44,640 Shares of Common Stock | | | 4,198,393 |
| | Dollarama Inc | 21,501 Shares of Common Stock | | | 739,996 |
| | Dow Inc | 84,668 Shares of Common Stock | | | 4,633,880 |
| | Dsv Panalpina | 1,937 Shares of Common Stock | | | 223,408 |
| | Dufry Ag | 3,155 Shares of Common Stock | | | 312,845 |
| | Dupont De Nemours Inc | 122,825 Shares of Common Stock | | | 7,885,365 |
| | E Trade Finl Corp Formerly E Trade Groupinc | 43,000 Shares of Common Stock | | | 1,950,910 |
| | E.On Se | 31,245 Shares of Common Stock | | | 334,031 |
| | East Japan Railway Co | 1,800 Shares of Common Stock | | | 163,280 |
| | Echo Global Logistics Inc | 87,981 Shares of Common Stock | | | 1,821,207 |
| | Edf | 115,648 Shares of Common Stock | | | 1,288,802 |
| | Edison Intl | 136,781 Shares of Common Stock | | | 10,314,655 |
| | Eiffage | 23,206 Shares of Common Stock | | | 2,656,971 |
| | Elanco Animal Health Inc | 197,190 Shares of Common Stock | | | 5,807,246 |
| | Eldorado Resorts Inc | 78,300 Shares of Common Stock | | | 4,669,812 |
| | Elementis Ord | 388,000 Shares of Common Stock | | | 920,065 |
| | Elior Group | 47,826 Shares of Common Stock | | | 703,269 |
| | Emcor Group Inc | 31,840 Shares of Common Stock | | | 2,747,792 |
| | Emergent Biosolutions Inc | 64,629 Shares of Common Stock | | | 3,486,735 |
| | Enagas Sa | 49,136 Shares of Common Stock | | | 1,254,228 |
| | Encompass Health Corp | 43,072 Shares of Common Stock | | | 2,983,597 |
| | Endesa Sa | 76,413 Shares of Common Stock | | | 2,040,554 |
| | Enel Spa | 272,625 Shares of Common Stock | | | 2,164,185 |
| | Engie Comstk | 159,187 Shares of Common Stock | | | 2,573,099 |
| | Entra Asa | 44,000 Shares of Common Stock | | | 726,048 |
| | Epr Pptys Com Sh Ben Int Com Sh Ben Int | 29,937 Shares of Common Stock | | | 2,114,750 |
| | Eqt Corp | 190,530 Shares of Common Stock | | | 2,076,777 |
| | Equitrans Midstream Corp | 89,585 Shares of Common Stock | | | 1,196,856 |
| | Ericsson | 153,154 Shares of Common Stock | | | 1,334,385 |
| | Essity Ab | 5,831 Shares of Common Stock | | | 187,991 |
| | Etsy Inc | 52,450 Shares of Common Stock | | | 2,323,535 |
| | Eurocommercial | 20,519 Shares of Common Stock | | | 575,815 |
| | Euronav | 61,100 Shares of Common Stock | | | 753,061 |
| | Euronet Worldwide Inc | 9,416 Shares of Common Stock | | | 1,483,585 |
| | Eutelsat Communica | 4,970 Shares of Common Stock | | | 80,837 |
| | Evergy Inc | 69,973 Shares of Common Stock | | | 4,554,543 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Eversource Energy | 50,299 Shares of Common Stock | | $ | 4,278,936 |
| | Evn Ag | 31,300 Shares of Common Stock | | | 607,823 |
| | Evraz Plc Ord | 116,549 Shares of Common Stock | | | 623,769 |
| | Expedia Group Inc | 21,524 Shares of Common Stock | | | 2,327,605 |
| | Experian Ord | 13,998 Shares of Common Stock | | | 473,239 |
| | Exxon Mobil Corp | 198,729 Shares of Common Stock | | | 13,867,310 |
| | F N B Corp Pa | 176,419 Shares of Common Stock | | | 2,240,521 |
| | Fabege Ab | 38,700 Shares of Common Stock | | | 643,687 |
| | Fagron | 23,700 Shares of Common Stock | | | 514,241 |
| | Federal Agric Mtg Corp | 14,868 Shares of Common Stock | | | 1,241,478 |
| | Fiat Chrysler Automobiles Nv | 191,634 Shares of Common Stock | | | 2,838,151 |
| | Fidelity Natl Finl Inc | 54,900 Shares of Common Stock | | | 2,489,715 |
| | Fidelity Natl Information Svcs Inc | 48,800 Shares of Common Stock | | | 6,787,592 |
| | Finecobank Spa | 67,228 Shares of Common Stock | | | 806,704 |
| | Firstenergy Corp | 49,600 Shares of Common Stock | | | 2,410,560 |
| | Fiserv Inc | 48,020 Shares of Common Stock | | | 5,552,553 |
| | Fleetcor Technologies Inc | 15,100 Shares of Common Stock | | | 4,344,572 |
| | Fluidra Sa | 46,010 Shares of Common Stock | | | 630,084 |
| | Foot Locker Inc | 102,2344 Shares of Common Stock | | | 3,986,104 |
| | Forbo Hldgs Ag | 320 Shares of Common Stock | | | 544,596 |
| | Fortescue Metals Grp Ltd | 237,293 Shares of Common Stock | | | 1,783,147 |
| | Fortinet Inc | 50,880 Shares of Common Stock | | | 5,431,949 |
| | Fortum Oyj | 80,771 Shares of Common Stock | | | 1,994,640 |
| | Fortune Brands Home & Sec Inc | 94,200 Shares of Common Stock | | | 6,155,028 |
| | Fortune R/Est Inv | 293,000 Shares of Common Stock | | | 341,817 |
| | Fox Corp | 46,607 Shares of Common Stock | | | 1,727,721 |
| | Fox Corp | 243,011 Shares of Common Stock | | | 8,845,600 |
| | Fp Corp | 12,400 Shares of Common Stock | | | 740,520 |
| | Franklin Covey Co | 25,588 Shares of Common Stock | | | 824,701 |
| | Fresenius Medical Care | 22,302 Shares of Common Stock | | | 1,651,242 |
| | Fresenius Se&Kgaa | 8,703 Shares of Common Stock | | | 490,214 |
| | Frkln Res Inc | 133,928 Shares of Common Stock | | | 3,479,449 |
| | Fti Consulting Inc | 28,148 Shares of Common Stock | | | 3,114,858 |
| | Fuchs Petrolub Se | 12,200 Shares of Common Stock | | | 604,749 |
| | Fuji Electric Holindgs Co | 39,200 Shares of Common Stock | | | 1,206,570 |
| | Fujifilm Holdings Corp | 13,200 Shares of Common Stock | | | 635,252 |
| | Fujitsu | 22,100 Shares of Common Stock | | | 2,088,493 |
| | Gallagher Arthur J & Co | 52,720 Shares of Common Stock | | | 5,020,526 |
| | Gaming & Leisure Pptys Inc | 52,300 Shares of Common Stock | | | 2,251,515 |
| | Gci Liberty Inc | 17,500 Shares of Common Stock | | | 1,239,875 |
| | General Electric Co | 1,964,122 Shares of Common Stock | | | 21,919,602 |
| | General Mills Inc | 22,000 Shares of Common Stock | | | 1,178,320 |
| | Genmab | 20,569 Shares of Common Stock | | | 4,577,584 |
| | Genting Singapore Ltd | 115,000 Shares of Common Stock | | | 78,682 |
| | Genus Ord | 12,200 Shares of Common Stock | | | 513,304 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Gilead Sciences Inc | 96,869 Shares of Common Stock | | $ | 6,294,548 |
| | Glacier Bancorp Inc | 33,357 Shares of Common Stock | | | 1,534,088 |
| | Glaxosmithkline Ord | 182,946 Shares of Common Stock | | | 4,311,544 |
| | Glencore Plc Ord | 373,898 Shares of Common Stock | | | 1,165,739 |
| | Global Blood Therapeutics Inc | 19,511 Shares of Common Stock | | | 1,550,929 |
| | Global Pmts Inc | 48,930 Shares of Common Stock | | | 8,932,661 |
| | Gmo Internet Inc | 35,100 Shares of Common Stock | | | 670,186 |
| | Goodman Group | 67,747 Shares of Common Stock | | | 636,716 |
| | Gpt Group | 51,414 Shares of Common Stock | | | 202,392 |
| | Grainger Plc Ord | 166,800 Shares of Common Stock | | | 692,073 |
| | Grand Canyon Ed Inc | 9,143 Shares of Common Stock | | | 875,808 |
| | H.Lundbeck | 22,085 Shares of Common Stock | | | 843,987 |
| | Hancock Whitney Corp | 66,143 Shares of Common Stock | | | 2,902,355 |
| | Hanover Ins Group Inc | 17,658 Shares of Common Stock | | | 2,413,319 |
| | Hansen Technologie | 179,240 Shares of Common Stock | | | 478,788 |
| | Hansol Chemical Co | 6,890 Shares of Common Stock | | | 631,536 |
| | Haulotte Group | 22,224 Shares of Common Stock | | | 132,216 |
| | Hd Supply Hldgs Inc. | 38,600 Shares of Common Stock | | | 1,552,492 |
| | Healthcare Rlty Tr | 93,418 Shares of Common Stock | | | 3,117,359 |
| | Helix Energy Solutions Group Inc | 210,190 Shares of Common Stock | | | 2,024,130 |
| | Henderson Land Development | 140,950 Shares of Common Stock | | | 691,925 |
| | Hennes & Mauritz | 65,650 Shares of Common Stock | | | 1,335,855 |
| | Herman Miller Inc | 55,245 Shares of Common Stock | | | 2,300,954 |
| | Hermes Intl | 2,069 Shares of Common Stock | | | 1,547,218 |
| | Hexpol | 52,900 Shares of Common Stock | | | 518,769 |
| | Highwoods Pptys Inc | 50,025 Shares of Common Stock | | | 2,446,723 |
| | Hilton Worldwide Hldgs Inc | 73,500 Shares of Common Stock | | | 8,151,885 |
| | Hiscox Ord | 34,500 Shares of Common Stock | | | 650,823 |
| | Hitachi | 77,100 Shares of Common Stock | | | 3,281,938 |
| | Hitachi High-Tec | 19,500 Shares of Common Stock | | | 1,388,820 |
| | Hkt Trust And Hkt | 112,000 Shares of Common Stock | | | 157,827 |
| | Hochtief Ag | 2,364 Shares of Common Stock | | | 301,713 |
| | Hologic Inc | 155,379 Shares of Common Stock | | | 8,112,338 |
| | Home Bancshares Inc | 138,359 Shares of Common Stock | | | 2,720,138 |
| | Hong Kong Exchanges & Clear | 24,500 Shares of Common Stock | | | 795,516 |
| | Horace Mann Educators Corp | 34,463 Shares of Common Stock | | | 1,504,655 |
| | Hoshizaki Corp | 900 Shares of Common Stock | | | 80,663 |
| | Hoya Corp | 9,500 Shares of Common Stock | | | 913,504 |
| | Hsbc Hldgs Ord | 289,846 Shares of Common Stock | | | 2,272,739 |
| | Hugel Inc | 1,400 Shares of Common Stock | | | 481,456 |
| | Hunt J B Trans Svcs Inc | 45,480 Shares of Common Stock | | | 5,311,154 |
| | Hysan Development | 80,000 Shares of Common Stock | | | 313,663 |
| | Iaa Spinco Inc | 20,378 Shares of Common Stock | | | 958,989 |
| | Iac / Interactivecorp | 19,910 Shares of Common Stock | | | 4,959,780 |
| | Iberdrola Sa | 220,795 Shares of Common Stock | | | 2,275,193 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Iberiabank Corp | 32,751 Shares of Common Stock | | $ | 2,450,757 |
| | Ibiden Co Ltd | 33,000 Shares of Common Stock | | | 791,028 |
| | Ibstock Plc Ord | 149,000 Shares of Common Stock | | | 621,771 |
| | Icon Plc | 32,310 Shares of Common Stock | | | 5,564,751 |
| | Idacorp Inc | 18,297 Shares of Common Stock | | | 1,954,120 |
| | Idexx Labs Inc | 24,330 Shares of Common Stock | | | 6,353,293 |
| | Idorsia Ltd | 36,390 Shares of Common Stock | | | 1,125,127 |
| | Igo Ltd | 193,647 Shares of Common Stock | | | 849,415 |
| | Ihs Markit Ltd | 64,050 Shares of Common Stock | | | 4,826,168 |
| | Ill Tool Wks Inc | 42,574 Shares of Common Stock | | | 7,647,568 |
| | Ima(Ind Macc Auto) | 7,000 Shares of Common Stock | | | 503,666 |
| | Imax Corp | 69,401 Shares of Common Stock | | | 1,417,862 |
| | Immunomedics Inc | 89,483 Shares of Common Stock | | | 1,893,460 |
| | Inchcape Ord | 75,332 Shares of Common Stock | | | 704,560 |
| | Incitec Pivot | 248,545 Shares of Common Stock | | | 555,593 |
| | Indutrade Ab | 14,300 Shares of Common Stock | | | 512,054 |
| | Infineon Technolog Ord | 88,274 Shares of Common Stock | | | 2,012,469 |
| | Informa Plc (Gb) Ord | 68,031 Shares of Common Stock | | | 772,363 |
| | Ing Groep N.V. | 506,849 Shares of Common Stock | | | 6,080,810 |
| | Ingenico Group | 3,055 Shares of Common Stock | | | 331,950 |
| | Ingersoll-Rand Trane Technology | 43,360 Shares of Common Stock | | | 5,763,411 |
| | Ingevity Corp | 44,880 Shares of Common Stock | | | 3,921,614 |
| | Inphi Corp | 20,343 Shares of Common Stock | | | 1,505,789 |
| | Insmed Inc | 31,023 Shares of Common Stock | | | 740,829 |
| | Integer Hldgs Corp | 32,726 Shares of Common Stock | | | 2,632,152 |
| | Intercontinental Exchange Inc | 25,740 Shares of Common Stock | | | 2,382,237 |
| | Intermed Cap Grp Ord | 25,337 Shares of Common Stock | | | 540,400 |
| | Intesa Sanpaolo | 1,717,700 Shares of Common Stock | | | 4,528,186 |
| | Intl Paper Co | 229,464 Shares of Common Stock | | | 10,566,817 |
| | Investor Ab | 9,732 Shares of Common Stock | | | 531,457 |
| | Ipsen | 1,180 Shares of Common Stock | | | 104,639 |
| | Ipsos | 21,900 Shares of Common Stock | | | 711,671 |
| | Iress Limited | 116,095 Shares of Common Stock | | | 1,064,181 |
| | Itochu Corp | 40,400 Shares of Common Stock | | | 942,202 |
| | Ituran Location & Control | 16,554 Shares of Common Stock | | | 416,002 |
| | J & J Snack Foods Corp | 15,915 Shares of Common Stock | | | 2,932,657 |
| | J2 Global Inc | 70,031 Shares of Common Stock | | | 6,562,605 |
| | Japan Airlines Co | 104,700 Shares of Common Stock | | | 3,272,748 |
| | Japan Lifeline Co | 35,400 Shares of Common Stock | | | 486,333 |
| | Japan Post Hold Co | 13,600 Shares of Common Stock | | | 128,398 |
| | Japan Rental Housing Investments Inc | 500 Shares of Common Stock | | | 489,073 |
| | Japan Tobacco Inc | 29,600 Shares of Common Stock | | | 662,544 |
| | Jbg Smith Properties | 54,800 Shares of Common Stock | | | 2,185,972 |
| | Jefferies Finl Group Inc | 81,900 Shares of Common Stock | | | 1,750,203 |
| | Jeol Ltd | 20,200 Shares of Common Stock | | | 618,035 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Jetblue Awys Corp | 81,100 Shares of Common Stock | | $ | 1,518,192 |
| | Jins Holdings Inc | 9,700 Shares of Common Stock | | | 658,716 |
| | Johnson & Johnson | 135,362 Shares of Common Stock | | | 19,745,255 |
| | Johnson Ctls Intl Plc | 146,025 Shares of Common Stock | | | 5,944,678 |
| | Jpmorgan Chase & Co | 241,942 Shares of Common Stock | | | 33,726,715 |
| | Jtekt Corporation | 7,200 Shares of Common Stock | | | 86,195 |
| | Jungheinrich Non-Vtg Prf | 17,000 Shares of Common Stock | | | 410,274 |
| | Jyske Bank | 15,300 Shares of Common Stock | | | 558,725 |
| | Kamigumi Co Ltd | 9,600 Shares of Common Stock | | | 211,920 |
| | Kaz Minerals Plc | 63,900 Shares of Common Stock | | | 449,838 |
| | Kbc Groep Nv | 4,852 Shares of Common Stock | | | 365,234 |
| | Kddi Corp | 7,800 Shares of Common Stock | | | 233,480 |
| | Kenedix Inc | 115,400 Shares of Common Stock | | | 604,211 |
| | Kepco Plant Service & Engineering Co | 6,641 Shares of Common Stock | | | 224,822 |
| | Kering | 1,276 Shares of Common Stock | | | 838,188 |
| | Kerry Properties | 177,000 Shares of Common Stock | | | 562,226 |
| | Kh Neochem Co Ltd | 18,600 Shares of Common Stock | | | 399,812 |
| | Kimberly-Clark Corp | 91,030 Shares of Common Stock | | | 12,521,177 |
| | Kingfisher Ord | 127,745 Shares of Common Stock | | | 367,230 |
| | Kintetsu World Exp | 28,800 Shares of Common Stock | | | 505,640 |
| | Kion Group Ag | 13,954 Shares of Common Stock | | | 964,237 |
| | Kohls Corp | 47,956 Shares of Common Stock | | | 2,443,358 |
| | Koito Mfg Co Ltd | 3,400 Shares of Common Stock | | | 159,558 |
| | Kojamo Oyj | 47,500 Shares of Common Stock | | | 863,764 |
| | Kon Ahold Delhaize | 135,343 Shares of Common Stock | | | 3,387,113 |
| | Kone Corporation | 3,595 Shares of Common Stock | | | 235,182 |
| | Konica Minolta Inc | 86,900 Shares of Common Stock | | | 570,138 |
| | Koninklijke Dsm | 19,153 Shares of Common Stock | | | 2,496,062 |
| | Koninklijke Philip | 55,041 Shares of Common Stock | | | 2,688,819 |
| | Kraft Heinz Co | 28,900 Shares of Common Stock | | | 928,557 |
| | Kroger Co | 48,430 Shares of Common Stock | | | 1,403,986 |
| | Krones Ag Ord | 9,000 Shares of Common Stock | | | 681,919 |
| | Kudelski Sa | 32,419 Shares of Common Stock | | | 192,502 |
| | Kyocera Corp | 10,600 Shares of Common Stock | | | 729,588 |
| | Kyung Dong Navien | 13,246 Shares of Common Stock | | | 533,757 |
| | Kyushu Railway Cor | 5,200 Shares of Common Stock | | | 174,649 |
| | L Brands Inc | 51,300 Shares of Common Stock | | | 929,556 |
| | L3Harris Technologies Inc | 27,820 Shares of Common Stock | | | 5,504,743 |
| | Lab Corp Amer Hldgs | 15,400 Shares of Common Stock | | | 2,605,218 |
| | Laborat Farma Rovi | 16,000 Shares of Common Stock | | | 438,224 |
| | Lafargeholcim Ltd | 1,442 Shares of Common Stock | | | 79,966 |
| | Las Vegas Sands Corp | 84,805 Shares of Common Stock | | | 5,854,937 |
| | Lci Industries | 42,585 Shares of Common Stock | | | 4,562,131 |
| | Legal & General Gp Ord | 42,227 Shares of Common Stock | | | 169,499 |
| | Lennar Corp | 46,800 Shares of Common Stock | | | 2,610,972 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Leonardo Spa | 65,956 Shares of Common Stock | | $ | 773,672 |
| | Lg Innotek Co | 6,730 Shares of Common Stock | | | 814,735 |
| | Liberty Media Corp Del Com SerC Siriusxm Grp | 32,100 Shares of Common Stock | | | 1,545,294 |
| | Lifestyle Internat | 271,500 Shares of Common Stock | | | 311,508 |
| | Ligand Pharmaceuticals Incorporated | 26,395 Shares of Common Stock | | | 2,752,735 |
| | Linde Plc | 61,564 Shares of Common Stock | | | 13,185,348 |
| | Link Real Estate Investment | 60,000 Shares of Common Stock | | | 635,283 |
| | Liveramp Holdings Inc | 34,838 Shares of Common Stock | | | 1,674,663 |
| | Lkq Corp | 51,800 Shares of Common Stock | | | 1,849,260 |
| | Loews Corp | 92,706 Shares of Common Stock | | | 4,866,138 |
| | London Stock Exchange Group Ord | 6,592 Shares of Common Stock | | | 676,788 |
| | Lonza Group Ag | 10,438 Shares of Common Stock | | | 3,807,200 |
| | Loomis Ab | 20,900 Shares of Common Stock | | | 865,824 |
| | L'Oreal | 2,583 Shares of Common Stock | | | 765,446 |
| | M D C Hldgs Inc | 65,896 Shares of Common Stock | | | 2,514,591 |
| | M&G Plc Ord | 13,167 Shares of Common Stock | | | 41,375 |
| | Magellan Health Inc | 21,143 Shares of Common Stock | | | 1,654,440 |
| | Magna International Inc | 110,823 Shares of Common Stock | | | 6,077,533 |
| | Maisons Du Monde | 30,800 Shares of Common Stock | | | 448,412 |
| | Marathon Pete Corp | 101,100 Shares of Common Stock | | | 6,091,275 |
| | Markel Corp Holding Co | 1,900 Shares of Common Stock | | | 2,172,023 |
| | Marks & Spencer Gp Ord | 172,121 Shares of Common Stock | | | 486,817 |
| | Marsh & Mclennan Co'S Inc | 104,400 Shares of Common Stock | | | 11,631,204 |
| | Marubeni Corp | 134,800 Shares of Common Stock | | | 1,005,465 |
| | Masimo Corp | 19,070 Shares of Common Stock | | | 3,014,204 |
| | Masmovil Ibercom | 28,605 Shares of Common Stock | | | 653,099 |
| | Masonite Intl Corp | 56,866 Shares of Common Stock | | | 4,106,294 |
| | Mattel Inc | 117,649 Shares of Common Stock | | | 1,594,144 |
| | Maximus Inc | 65,657 Shares of Common Stock | | | 4,884,224 |
| | Mayr-Melnhof Karto | 4,200 Shares of Common Stock | | | 563,854 |
| | Mazda Motor Corp | 161,100 Shares of Common Stock | | | 1,390,493 |
| | Medicines Co | 34,640 Shares of Common Stock | | | 2,942,322 |
| | Medifast Inc | 37,010 Shares of Common Stock | | | 4,055,556 |
| | Medipal Holdings Corp | 4,800 Shares of Common Stock | | | 106,578 |
| | Medtronic Plc | 230,803 Shares of Common Stock | | | 26,184,601 |
| | Meggitt Ord | 39,780 Shares of Common Stock | | | 346,124 |
| | Meitec Corporation | 11,600 Shares of Common Stock | | | 656,453 |
| | Melia Hotels Intl | 96,000 Shares of Common Stock | | | 846,994 |
| | Melrose Indust Plc | 27,070 Shares of Common Stock | | | 86,102 |
| | Merck & Co Inc | 54,290 Shares of Common Stock | | | 4,937,676 |
| | Metlife Inc | 202,700 Shares of Common Stock | | | 10,331,619 |
| | Mettler-Toledo Intl Inc | 5,390 Shares of Common Stock | | | 4,275,779 |
| | Micro Focus International Plc Ord | 29,677 Shares of Common Stock | | | 418,229 |
| | Microchip Technology Inc | 51,020 Shares of Common Stock | | | 5,342,814 |
| | Microsoft Corp | 119,298 Shares of Common Stock | | | 18,813,295 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Minebea Mitsumi Inc | 13,000 Shares of Common Stock | | $ | 272,381 |
| | Minerals Technologies Inc | 30,840 Shares of Common Stock | | | 1,777,309 |
| | Mirait Hldg Corp | 30,800 Shares of Common Stock | | | 467,916 |
| | Misumi Group Inc | 21,800 Shares of Common Stock | | | 546,028 |
| | Mitsubishi Corp | 43,600 Shares of Common Stock | | | 1,163,469 |
| | Mitsubishi Elec Cp | 31,500 Shares of Common Stock | | | 434,348 |
| | Mitsubishi Estate Co Ltd | 25,100 Shares of Common Stock | | | 482,599 |
| | Mitsubishi Hvy Ind | 8,500 Shares of Common Stock | | | 332,257 |
| | Mitsubishi Logisne | 49,000 Shares of Common Stock | | | 626,731 |
| * | Mitsubishi Ufj Fin | 97,500 Shares of Common Stock | | | 532,202 |
| | Mitsui & Co Ltd | 35,900 Shares of Common Stock | | | 642,847 |
| | Mitsui Fudosan Co Ltd | 17,200 Shares of Common Stock | | | 422,898 |
| | Miura Co Ltd | 23,500 Shares of Common Stock | | | 821,716 |
| | Mlp Se | 57,600 Shares of Common Stock | | | 362,074 |
| | Molson Coors Beverage Company | 39,385 Shares of Common Stock | | | 2,122,852 |
| | Monex Group, Inc | 106,900 Shares of Common Stock | | | 263,623 |
| | Moneysupermarket.C Ord | 164,700 Shares of Common Stock | | | 721,324 |
| * | Morgan Stanley | 33,678,328 Shares of Common Stock | | | 1,721,636,127 |
| | Morphosys | 7,100 Shares of Common Stock | | | 1,010,564 |
| | Mosaic Co/The | 58,700 Shares of Common Stock | | | 1,270,268 |
| | Ms&Ad Ins Gp Holdings | 16,800 Shares of Common Stock | | | 558,222 |
| | Msc Indl Direct Inc | 17,814 Shares of Common Stock | | | 1,397,865 |
| | Msci Inc | 13,910 Shares of Common Stock | | | 3,591,284 |
| | Muenchener Rueckve | 1,837 Shares of Common Stock | | | 542,315 |
| | Murata Manufacturing Co. | 1,400 Shares of Common Stock | | | 86,905 |
| | Murphy Usa Inc | 19,391 Shares of Common Stock | | | 2,268,747 |
| | Myriad Genetics Inc | 30,427 Shares of Common Stock | | | 828,527 |
| | Nabtesco Corp | 19,200 Shares of Common Stock | | | 576,839 |
| | Nagaileben Co | 22,500 Shares of Common Stock | | | 496,894 |
| | National Bk Hldgs Corp | 58,516 Shares of Common Stock | | | 2,060,934 |
| | National Grid Ord | 10,937 Shares of Common Stock | | | 136,818 |
| | National Storage R Reit Stapled Unit | 663,442 Shares of Common Stock | | | 855,783 |
| | Natixis | 50,853 Shares of Common Stock | | | 225,933 |
| | Naturgy Energy Group Sa | 24,255 Shares of Common Stock | | | 609,868 |
| | Ncr Corp | 216,440 Shares of Common Stock | | | 7,610,030 |
| | Neinor Homes Sa | 36,900 Shares of Common Stock | | | 455,623 |
| | Nektar Therapeutics | 51,050 Shares of Common Stock | | | 1,101,914 |
| | Nestle Sa | 149,229 Shares of Common Stock | | | 16,147,276 |
| | Netlink Nbn Trust | 957,500 Shares of Common Stock | | | 672,917 |
| | New World Development Co | 287,000 Shares of Common Stock | | | 393,383 |
| | Newcrest Mining Ltd | 84,716 Shares of Common Stock | | | 1,801,421 |
| | Newpark Res Inc | 183,896 Shares of Common Stock | | | 1,153,028 |
| | News Corp | 558,736 Shares of Common Stock | | | 7,900,527 |
| | Next Ord | 7,867 Shares of Common Stock | | | 731,403 |
| | Nextage Co Ltd | 39,600 Shares of Common Stock | | | 468,240 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Nextera Energy Inc | 47,862 Shares of Common Stock | | $ | 11,590,262 |
| | Nhk Spring Co Ltd | 64,500 Shares of Common Stock | | | 590,545 |
| | Nielsen Holdings Plc | 244,710 Shares of Common Stock | | | 4,967,613 |
| | Nihon Parkerizing | 60,900 Shares of Common Stock | | | 659,014 |
| | Nikon Corp | 121,600 Shares of Common Stock | | | 1,503,845 |
| | Nintendo Co Ltd | 5,200 Shares of Common Stock | | | 2,103,925 |
| | Nippon Express Co | 2,700 Shares of Common Stock | | | 159,503 |
| | Nippon Shinyaku Co | 47,400 Shares of Common Stock | | | 4,130,462 |
| | Nippon Telegraph & Telephone Corp | 7,400 Shares of Common Stock | | | 187,732 |
| | Nitto Kohki Co Ltd | 29,000 Shares of Common Stock | | | 626,299 |
| | Nokia Oyj | 149,117 Shares of Common Stock | | | 551,697 |
| | Nordea Bank Abp | 10,618 Shares of Common Stock | | | 85,797 |
| | Novartis Ag | 32,305 Shares of Common Stock | | | 3,065,864 |
| | Novo-Nordisk | 97,807 Shares of Common Stock | | | 5,680,799 |
| | Ntt Docomo | 28,600 Shares of Common Stock | | | 799,510 |
| | Nxp Semiconductors | 26,400 Shares of Common Stock | | | 3,359,664 |
| | Obayashi Corp | 28,900 Shares of Common Stock | | | 323,637 |
| | Obic Co Ltd | 12,900 Shares of Common Stock | | | 1,752,050 |
| | Oc Oerlikon Corp | 64,310 Shares of Common Stock | | | 754,440 |
| | Occidental Petroleum Corp | 263,014 Shares of Common Stock | | | 10,838,807 |
| | Oceanfirst Finl Corp | 84,294 Shares of Common Stock | | | 2,152,869 |
| | Odfjell Drilling Limited | 134,800 Shares of Common Stock | | | 501,935 |
| | Okinawa Cellular | 14,200 Shares of Common Stock | | | 557,939 |
| | On Semiconductor Corp | 76,500 Shares of Common Stock | | | 1,865,070 |
| | One Gas Inc | 26,202 Shares of Common Stock | | | 2,451,721 |
| | Optinose Inc | 84,893 Shares of Common Stock | | | 782,713 |
| | Orange | 56,046 Shares of Common Stock | | | 825,401 |
| | Orion | 4,457 Shares of Common Stock | | | 406,601 |
| | Orion Corporation | 5,720 Shares of Common Stock | | | 264,982 |
| | Orix Corp | 7,700 Shares of Common Stock | | | 128,316 |
| | Otsuka Corp | 7,900 Shares of Common Stock | | | 318,035 |
| | Pacira Biosciences Inc | 35,660 Shares of Common Stock | | | 1,615,398 |
| | Pacwest Bancorp Del | 55,923 Shares of Common Stock | | | 2,140,173 |
| | Palo Alto Networks Inc | 24,720 Shares of Common Stock | | | 5,716,500 |
| | Pandora | 38,468 Shares of Common Stock | | | 1,674,632 |
| | Patrizia Ag | 35,600 Shares of Common Stock | | | 793,626 |
| | Pdc Energy Inc | 63,319 Shares of Common Stock | | | 1,657,058 |
| | Pebblebrook Hotel Tr | 87,443 Shares of Common Stock | | | 2,344,347 |
| | Penta Ocean Const | 88,100 Shares of Common Stock | | | 548,826 |
| | Pepsico Inc | 41,116 Shares of Common Stock | | | 5,619,324 |
| | Perrigo Company Limited | 141,642 Shares of Common Stock | | | 7,317,226 |
| | Persimmon Ord | 39,523 Shares of Common Stock | | | 1,411,051 |
| | Persol Holdings Co | 4,600 Shares of Common Stock | | | 86,815 |
| | Petrol Brasileiros Prf | 650,300 Shares of Common Stock | | | 4,878,826 |
| | Peugeot Sa | 74,104 Shares of Common Stock | | | 1,771,771 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Pfizer Inc | 342,832 Shares of Common Stock | | $ | 13,432,158 |
| | Pgt Inc | 105,666 Shares of Common Stock | | | 1,575,480 |
| | Philip Morris Intl | 147,940 Shares of Common Stock | | | 12,588,215 |
| | Pioneer Nat Res Co | 49,744 Shares of Common Stock | | | 7,529,749 |
| | Pioneer Nat Res Co | 33,760 Shares of Common Stock | | | 5,110,251 |
| | Pnm Res Inc | 47,752 Shares of Common Stock | | | 2,421,504 |
| | Points Intl Ltd | 42,966 Shares of Common Stock | | | 656,091 |
| | Pola Orbis Hldg In | 19,400 Shares of Common Stock | | | 466,635 |
| | Polyone Corp | 43,357 Shares of Common Stock | | | 1,595,104 |
| | Pool Corp | 25,715 Shares of Common Stock | | | 5,461,352 |
| | Post Hldgs Inc | 31,300 Shares of Common Stock | | | 3,414,830 |
| | Poste Italiane Spa | 27,469 Shares of Common Stock | | | 312,040 |
| | Ppl Corp | 50,100 Shares of Common Stock | | | 1,797,588 |
| | Premier Inc | 131,955 Shares of Common Stock | | | 4,998,455 |
| | Prestige Consumer Healthcare Inc | 51,790 Shares of Common Stock | | | 2,097,495 |
| | Prima Meat Packers | 23,400 Shares of Common Stock | | | 546,269 |
| | Prosegur Seguridad | 178,200 Shares of Common Stock | | | 736,109 |
| | Prosus | 8,562 Shares of Common Stock | | | 639,410 |
| | Prudential | 13,167 Shares of Common Stock | | | 252,749 |
| | Psp Swiss Property | 6,608 Shares of Common Stock | | | 911,684 |
| | Publicis Groupe Sa | 10,280 Shares of Common Stock | | | 465,726 |
| | Puma Biotechnology Inc | 34,858 Shares of Common Stock | | | 305,008 |
| | Puma Se | 10,890 Shares of Common Stock | | | 835,512 |
| | Qorvo Inc | 8,200 Shares of Common Stock | | | 953,086 |
| | Qualcomm Inc | 204,365 Shares of Common Stock | | | 18,031,124 |
| | Qurate Retail Inc | 156,700 Shares of Common Stock | | | 1,320,981 |
| | Radian Group Inc | 115,633 Shares of Common Stock | | | 2,909,326 |
| | Raffles Medical | 617,761 Shares of Common Stock | | | 459,421 |
| | Rami Levi Chain | 8,800 Shares of Common Stock | | | 505,987 |
| | Randstad | 2,600 Shares of Common Stock | | | 158,883 |
| | Raytheon Co | 41,253 Shares of Common Stock | | | 9,064,934 |
| | Reata Pharmaceuticals Inc | 9,103 Shares of Common Stock | | | 1,860,926 |
| | Recordati | 11,700 Shares of Common Stock | | | 493,416 |
| | Recruit Hldgs Co L | 31,030 Shares of Common Stock | | | 1,170,389 |
| | Red Electrica Corp | 19,093 Shares of Common Stock | | | 384,167 |
| | Relo Group Inc | 21,800 Shares of Common Stock | | | 611,824 |
| | Relx Plc | 111,180 Shares of Common Stock | | | 2,806,529 |
| | Renasant Corp | 57,056 Shares of Common Stock | | | 2,020,924 |
| | Renesas Electronics Corporation | 40,700 Shares of Common Stock | | | 280,883 |
| | Renewi Plc Ord | 1,497,475 Shares of Common Stock | | | 718,128 |
| | Resona Holdings | 401,800 Shares of Common Stock | | | 1,770,989 |
| | Revance Therapeutics Inc | 66,683 Shares of Common Stock | | | 1,082,265 |
| | Rexel | 65,082 Shares of Common Stock | | | 865,331 |
| | Rhi Magnesita N.V. | 11,000 Shares of Common Stock | | | 560,740 |
| | Rio Tinto Limited | 8,619 Shares of Common Stock | | | 608,296 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Rio Tinto Ord | 30,823 Shares of Common Stock | | $ | 1,838,700 |
| | Roche Hldgs Ag Genusscheine | 22,647 Shares of Common Stock | | | 7,343,582 |
| | Rockwell Automation | 17,990 Shares of Common Stock | | | 3,646,033 |
| | Rohm Co Ltd | 13,200 Shares of Common Stock | | | 1,066,446 |
| | Ross Stores Inc | 45,240 Shares of Common Stock | | | 5,266,841 |
| | Rotork Ord | 165,000 Shares of Common Stock | | | 732,256 |
| | Royal Dutch Shell | 69,671 Shares of Common Stock | | | 2,066,984 |
| | Royal Dutch Shell 'A'Shs | 52,574 Shares of Common Stock | | | 1,556,620 |
| | Rpm Intl Inc | 64,240 Shares of Common Stock | | | 4,931,062 |
| | Rsa Insurance Grp Ord | 25,373 Shares of Common Stock | | | 190,114 |
| | S.W. Airl Co | 181,179 Shares of Common Stock | | | 9,780,042 |
| | Saf Holland | 76,400 Shares of Common Stock | | | 634,617 |
| | Safran Sa | 11,657 Shares of Common Stock | | | 1,801,148 |
| | Sage Group | 31,554 Shares of Common Stock | | | 313,091 |
| | Sam Yung Trading | 46,932 Shares of Common Stock | | | 645,265 |
| | Sampo Plc | 10,080 Shares of Common Stock | | | 440,259 |
| | San-Ai Oil Co | 82,900 Shares of Common Stock | | | 910,813 |
| | Sandvik Ab | 109,790 Shares of Common Stock | | | 2,142,190 |
| | Sandy Spring Bancorp Inc Cmt | 50,883 Shares of Common Stock | | | 1,927,448 |
| | Sanne Group Plc Ord | 67,200 Shares of Common Stock | | | 602,687 |
| | Sanofi | 29,710 Shares of Common Stock | | | 2,988,780 |
| | Sanwa Holdings | 40,500 Shares of Common Stock | | | 458,012 |
| | Sap Se | 36,238 Shares of Common Stock | | | 4,894,275 |
| | Sartorius Stedim B | 6,800 Shares of Common Stock | | | 1,127,394 |
| | Sato Holdings | 22,200 Shares of Common Stock | | | 700,676 |
| | Sats Ltd | 135,200 Shares of Common Stock | | | 508,766 |
| | Sba Communications Corp | 19,270 Shares of Common Stock | | | 4,643,877 |
| | Scentre Group | 177,340 Shares of Common Stock | | | 477,452 |
| | Schneider Electric | 27,548 Shares of Common Stock | | | 2,829,421 |
| | Schwab Charles Corp | 114,890 Shares of Common Stock | | | 5,464,168 |
| | Scor Se | 2,336 Shares of Common Stock | | | 98,121 |
| | Scout24 Ag | 12,600 Shares of Common Stock | | | 833,759 |
| | Seacoast Bkg Corp Fla | 79,722 Shares of Common Stock | | | 2,437,102 |
| | Secom Co | 900 Shares of Common Stock | | | 80,969 |
| | Seek Limited | 20,478 Shares of Common Stock | | | 324,608 |
| | Segro Plc Ord | 73,917 Shares of Common Stock | | | 878,552 |
| | Sekisui House | 28,700 Shares of Common Stock | | | 616,254 |
| | Sekisui Jushi Corp | 41,600 Shares of Common Stock | | | 886,931 |
| | Selective Ins Group Inc | 35,892 Shares of Common Stock | | | 2,339,799 |
| | Sempra Energy Inc | 25,966 Shares of Common Stock | | | 3,933,330 |
| | Sempra Energy Mandatory Pfd | 10,603 Shares of Common Stock | | | 1,262,499 |
| | Sempra Energy Pfd | 49,063 Shares of Common Stock | | | 5,888,541 |
| | Semtech Corp | 121,308 Shares of Common Stock | | | 6,417,194 |
| | Senior | 221,700 Shares of Common Stock | | | 507,802 |
| | Sensient Technologies Corp | 26,110 Shares of Common Stock | | | 1,725,610 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Servicenow Inc | 17,260 Shares of Common Stock | | $ | 4,872,843 |
| | Ses Fdr | 18,600 Shares of Common Stock | | | 260,981 |
| | Seven & I Holdings | 11,000 Shares of Common Stock | | | 405,181 |
| | Shangri-La Asia | 382,000 Shares of Common Stock | | | 399,071 |
| | Shimamura Co | 1,000 Shares of Common Stock | | | 76,559 |
| | Shimizu Corp | 18,600 Shares of Common Stock | | | 191,006 |
| | Shinko Elec Inds | 58,700 Shares of Common Stock | | | 696,784 |
| | Shinsei Bank | 92,800 Shares of Common Stock | | | 1,430,320 |
| | Shionogi & Co Ltd | 45,600 Shares of Common Stock | | | 2,839,431 |
| | Ship Healthcare Holdings Inc | 12,300 Shares of Common Stock | | | 571,567 |
| | Shutterstock Inc | 65,917 Shares of Common Stock | | | 2,826,521 |
| | Siemens Ag | 24,642 Shares of Common Stock | | | 3,223,572 |
| | Signature Aviation Plc Ord | 209,240 Shares of Common Stock | | | 879,249 |
| | Signature Bk Ny | 83,291 Shares of Common Stock | | | 11,378,383 |
| | Silgan Hldgs Inc | 60,157 Shares of Common Stock | | | 1,869,680 |
| | Siltronic Ag | 8,400 Shares of Common Stock | | | 845,970 |
| | Sim Corp | 7,300 Shares of Common Stock | | | 830,667 |
| | Skand Enskilda Bkn | 37,010 Shares of Common Stock | | | 348,235 |
| | Skanska Ab | 5,828 Shares of Common Stock | | | 131,800 |
| | Smucker J M Co | 9,000 Shares of Common Stock | | | 937,170 |
| | Snam | 24,366 Shares of Common Stock | | | 128,166 |
| | Societe Generale | 15,044 Shares of Common Stock | | | 523,747 |
| | Softbank Group Corp | 8,700 Shares of Common Stock | | | 380,743 |
| | Solaris Oilfield Infrastructure Inc | 93,148 Shares of Common Stock | | | 1,304,072 |
| | Sonic Healthcare | 4,727 Shares of Common Stock | | | 95,532 |
| | Sonova Holding Ag | 13,708 Shares of Common Stock | | | 3,135,563 |
| | Sony Corp | 51,200 Shares of Common Stock | | | 3,486,830 |
| | Sosila Logistics R Reit | 377 Shares of Common Stock | | | 416,287 |
| | South Jersey Inds Inc | 65,959 Shares of Common Stock | | | 2,175,328 |
| | South32 Ltd | 876,268 Shares of Common Stock | | | 1,663,126 |
| | Southern Co | 334,188 Shares of Common Stock | | | 21,287,776 |
| | Southern Co Corporate | 65,281 Shares of Common Stock | | | 3,518,646 |
| | Spar Nord Bank | 45,000 Shares of Common Stock | | | 437,359 |
| | Spark Infr Group | 335,139 Shares of Common Stock | | | 492,375 |
| | Splunk Inc | 45,110 Shares of Common Stock | | | 6,756,125 |
| | Square Enix Holdings Co Ltd | 17,600 Shares of Common Stock | | | 879,393 |
| | Ss&C Technologies Hldgs Inc | 82,600 Shares of Common Stock | | | 5,071,640 |
| | St James'S Place Ord | 43,900 Shares of Common Stock | | | 677,233 |
| | Standard Chartered Plc Shs | 34,883 Shares of Common Stock | | | 329,209 |
| | State Str Corp | 111,900 Shares of Common Stock | | | 8,851,290 |
| | Std Life Aberdeen Ord | 95,460 Shares of Common Stock | | | 414,917 |
| | Stericycle Inc | 69,869 Shares of Common Stock | | | 4,458,341 |
| | Steris Plc Ord | 26,100 Shares of Common Stock | | | 3,978,162 |
| | Sterling Bancorp Del | 109,715 Shares of Common Stock | | | 2,312,792 |
| | Sthree Ord | 128,098 Shares of Common Stock | | | 643,155 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Stmicroelectronics | 59,071 Shares of Common Stock | | $ | 1,589,384 |
| | Stockland | 162,742 Shares of Common Stock | | | 528,526 |
| | Strategic Ed Inc | 30,870 Shares of Common Stock | | | 4,905,243 |
| | Subaru Corporation | 12,800 Shares of Common Stock | | | 319,602 |
| | Sumco Corporation | 90,400 Shares of Common Stock | | | 1,518,936 |
| | Sumitomo Corp | 87,000 Shares of Common Stock | | | 1,300,097 |
| | Sumitomo Dainippon Pharma Co Ltd | 20,900 Shares of Common Stock | | | 409,634 |
| | Sumitomo Heavy Ind | 38,500 Shares of Common Stock | | | 1,108,857 |
| | Sumitomo Mitsui Financial Group | 2,100 Shares of Common Stock | | | 78,029 |
| | Sumitomo Mitsui Trust Holdings Inc | 3,700 Shares of Common Stock | | | 147,660 |
| | Sumitomo Realty & Development | 6,800 Shares of Common Stock | | | 238,524 |
| | Sun Hung Kai Co | 476,000 Shares of Common Stock | | | 226,643 |
| | Sun Hung Kai Prop | 59,000 Shares of Common Stock | | | 903,347 |
| | Supernus Pharmaceuticals Inc | 70,739 Shares of Common Stock | | | 1,677,929 |
| | Suruga Bank | 97,500 Shares of Common Stock | | | 446,791 |
| | Suzuken Co Ltd | 10,400 Shares of Common Stock | | | 427,292 |
| | Swedish Match | 51,655 Shares of Common Stock | | | 2,664,128 |
| | Swire Properties Ltd | 48,800 Shares of Common Stock | | | 161,898 |
| | Symrise Ag | 20,956 Shares of Common Stock | | | 2,206,468 |
| | Taisei Corp | 19,600 Shares of Common Stock | | | 819,710 |
| | Taisho Holdin | 1,600 Shares of Common Stock | | | 119,402 |
| | Taiyo Nippon Sanso Corp | 158,100 Shares of Common Stock | | | 3,532,246 |
| | Take-Two Interactive Software Inc | 40,930 Shares of Common Stock | | | 5,011,060 |
| | Taylor Wimpey Ord | 460,694 Shares of Common Stock | | | 1,180,329 |
| | Tc Energy Corporation | 302,417 Shares of Common Stock | | | 16,121,850 |
| | Te Connectivity Ltd | 64,289 Shares of Common Stock | | | 6,161,458 |
| | Tecan Group Ag | 4,580 Shares of Common Stock | | | 1,286,477 |
| | Tecnicas Reunidas Ord | 20,500 Shares of Common Stock | | | 547,668 |
| | Teijin Ltd | 4,400 Shares of Common Stock | | | 82,797 |
| | Teledyne Technologies Inc | 27,250 Shares of Common Stock | | | 9,443,215 |
| | Telenet Group Holding | 2,770 Shares of Common Stock | | | 124,560 |
| | Teleperformance Societe Europeenne | 8,000 Shares of Common Stock | | | 1,952,252 |
| | Telia Company Ab | 18,269 Shares of Common Stock | | | 78,552 |
| | Telstra Corp Ltd | 54,521 Shares of Common Stock | | | 135,672 |
| | Terreno Rlty Corp | 40,737 Shares of Common Stock | | | 2,205,501 |
| | Texas Instruments Inc | 79,792 Shares of Common Stock | | | 10,236,516 |
| | The Trade Desk Inc | 19,808 Shares of Common Stock | | | 5,145,722 |
| | Thermo Fisher Corp | 14,371 Shares of Common Stock | | | 4,668,707 |
| | Tikkurila Oyj | 12,700 Shares of Common Stock | | | 204,713 |
| | Tmx Group Limited | 23,800 Shares of Common Stock | | | 2,063,860 |
| | Tokyo Elec Power H | 53,900 Shares of Common Stock | | | 231,620 |
| | Tokyo Electron | 15,700 Shares of Common Stock | | | 3,456,384 |
| | Tokyo Ohka Kogyo | 21,000 Shares of Common Stock | | | 827,053 |
| | Tokyo Tatemono Co | 54,900 Shares of Common Stock | | | 863,346 |
| | Toshiba Corp | 18,600 Shares of Common Stock | | | 634,120 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Total | 14,964 Shares of Common Stock | | $ | 826,417 |
| | Toyota Tsusho Corp | 8,900 Shares of Common Stock | | | 316,117 |
| | Tradeweb Mkts Inc | 95,200 Shares of Common Stock | | | 4,412,520 |
| | Transdigm Group Inc | 18,120 Shares of Common Stock | | | 10,147,200 |
| | Transunion | 84,700 Shares of Common Stock | | | 7,251,167 |
| | Trinity Ind Inc | 81,600 Shares of Common Stock | | | 1,807,440 |
| | Tsuruha Holdings | 5,600 Shares of Common Stock | | | 722,448 |
| | Twilio Inc | 27,400 Shares of Common Stock | | | 2,692,872 |
| | Tyson Foods Inc | 227,518 Shares of Common Stock | | | 20,713,239 |
| | Ubisoft Entertain | 11,100 Shares of Common Stock | | | 767,271 |
| | Ubs Group Ag | 803,266 Shares of Common Stock | | | 4,744,338 |
| | Udg Healthcare Plc Ord | 46,600 Shares of Common Stock | | | 497,571 |
| | Ugi Corp | 48,800 Shares of Common Stock | | | 2,203,808 |
| | Ulta Beauty Inc | 19,580 Shares of Common Stock | | | 4,956,481 |
| | Umpqua Hldgs Corp | 97,632 Shares of Common Stock | | | 1,728,086 |
| | Unibail-Rodamco-Westfield | 1,426 Shares of Common Stock | | | 225,136 |
| | Unicaja Banco | 533,700 Shares of Common Stock | | | 579,908 |
| | Unicredit Spa | 101,285 Shares of Common Stock | | | 1,480,275 |
| | Unifirst Corp Mass | 14,099 Shares of Common Stock | | | 2,847,716 |
| | Unilever | 2,220 Shares of Common Stock | | | 127,663 |
| | Unilever Plc Ord | 20,154 Shares of Common Stock | | | 1,161,541 |
| | Uniper Se | 3,610 Shares of Common Stock | | | 119,581 |
| | Unite Group Ord | 76,357 Shares of Common Stock | | | 1,274,540 |
| | United Parcel Svc Inc | 133,466 Shares of Common Stock | | | 15,623,530 |
| | United Therapeutics Corp Del | 17,900 Shares of Common Stock | | | 1,576,632 |
| | Us Bancorp | 173,827 Shares of Common Stock | | | 10,306,203 |
| | Us Foods Hldg Corp | 60,100 Shares of Common Stock | | | 2,517,589 |
| | V F Corp | 39,050 Shares of Common Stock | | | 3,891,723 |
| | Vail Resorts Inc | 12,187 Shares of Common Stock | | | 2,922,808 |
| | Value Partners Gp | 794,000 Shares of Common Stock | | | 489,130 |
| | Venture Corp Ltd | 9,200 Shares of Common Stock | | | 110,839 |
| | Vereit Inc | 167,800 Shares of Common Stock | | | 1,550,472 |
| | Verizon Communications | 280,455 Shares of Common Stock | | | 17,219,937 |
| | Vestas Wind System | 1,489 Shares of Common Stock | | | 150,578 |
| | Viacomcbs Inc | 65,070 Shares of Common Stock | | | 2,730,977 |
| | Viavi Solutions Inc | 165,823 Shares of Common Stock | | | 2,487,345 |
| | Vicat | 13,200 Shares of Common Stock | | | 597,866 |
| | Vinci | 27,157 Shares of Common Stock | | | 3,017,890 |
| | Vodafone Group Ord | 187,645 Shares of Common Stock | | | 364,820 |
| | Volvo Ab | 82,936 Shares of Common Stock | | | 1,390,085 |
| | Vonovia Se | 10,234 Shares of Common Stock | | | 551,408 |
| | Vz Holding Ag | 2,370 Shares of Common Stock | | | 730,567 |
| | Walmart Inc | 90,200 Shares of Common Stock | | | 10,719,368 |
| | Walt Disney Co | 46,935 Shares of Common Stock | | | 6,788,209 |
| | Watts Wtr Technologies Inc | 38,047 Shares of Common Stock | | | 3,795,569 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate equities (continued) | | | | |
| | Wells Fargo & Co | 613,879 Shares of Common Stock | | $ | 33,026,690 |
| | Western Alliance Bancorporation | 42,251 Shares of Common Stock | | | 2,408,307 |
| | Westlake Chem Corp | 7,900 Shares of Common Stock | | | 554,185 |
| | Wh Group Limited | 1,680,000 Shares of Common Stock | | | 1,735,671 |
| | Wheelock & Company | 16,000 Shares of Common Stock | | | 106,676 |
| | Wienerberger Ag | 51,093 Shares of Common Stock | | | 1,515,237 |
| | Willdan Group Inc | 54,100 Shares of Common Stock | | | 1,719,298 |
| | Williams Co Inc | 96,700 Shares of Common Stock | | | 2,293,724 |
| | Willis Towers Watson Plc | 34,060 Shares of Common Stock | | | 6,878,076 |
| | Wing Tai Holdings | 349,200 Shares of Common Stock | | | 524,586 |
| | Wirecard Ag | 37,162 Shares of Common Stock | | | 4,484,293 |
| | Wix.Com Ltd | 37,528 Shares of Common Stock | | | 4,592,677 |
| | Wolters Kluwer | 9,799 Shares of Common Stock | | | 715,180 |
| | Wolverine World Wide Inc | 60,949 Shares of Common Stock | | | 2,056,419 |
| | Wood Group (John) Ord | 128,700 Shares of Common Stock | | | 679,424 |
| | World Wrestling Entmnt | 52,402 Shares of Common Stock | | | 3,399,318 |
| | Wsfs Financial Corp | 46,486 Shares of Common Stock | | | 2,044,919 |
| | Wynn Macau Ltd | 700,000 Shares of Common Stock | | | 1,784,029 |
| | Xilinx Inc | 42,870 Shares of Common Stock | | | 4,191,400 |
| | Xpo Logistics Inc | 31,224 Shares of Common Stock | | | 2,488,553 |
| | Yamazen Corp | 50,000 Shares of Common Stock | | | 503,796 |
| | Yangzijiang Shipbu | 1,375,900 Shares of Common Stock | | | 1,146,029 |
| | Yuasa Trading Co | 25,200 Shares of Common Stock | | | 854,493 |
| | Yue Yuen Indl Holding | 114,500 Shares of Common Stock | | | 337,984 |
| | Yum China Hldgs Inc | 79,830 Shares of Common Stock | | | 3,832,638 |
| | Zendesk Inc | 73,640 Shares of Common Stock | | | 5,643,033 |
| | Zimmer Biomet Hldgs Inc | 62,590 Shares of Common Stock | | | 9,368,621 |
| | Zozo Inc | 19,700 Shares of Common Stock | | | 378,320 |
| | Zuken Inc | 55,300 Shares of Common Stock | | | 1,267,053 |
| | Zumtobel Group Ag | 50,000 Shares of Common Stock | | | 512,983 |
| | Zurich Insurance Group Ag | 6,701 Shares of Common Stock | | | 2,747,939 |
| | | | | | |
| | Cash and cash equivalents | | | | |
| | Interest-Bearing Cash | USD deposits | | | 499,999 |
| | Cash | Foreign currency and collaterals | | | 62,518,149 |
| | | | | | |
| | Government securities | | | | |
| | Federal Home Loan Banks | Fltg 02-20-2020 | | | 4,189,539 |
| | Federal Home Loan Banks | Fltg 02-24-2020 | | | 7,444,127 |
| | Federal Home Loan Banks | Fltg 10-01-2020 Reg | | | 4,438,662 |
| | Federal Home Loan Banks | Fltg Due 02-09-2021 | | | 1,543,065 |
| | Federal Home Loan Banks | FltgDue 03-12-2021 | | | 4,002,987 |
| | Federal Home Loan Banks | Fltg Due 04-17-2020 | | | 12,165,680 |
| | Federal Home Loan Banks | Fltg Due 07-08-2021 Reg | | | 3,221,335 |
| | Federal Home Loan Banks | Fltg Rate 12-21-2020 Reg | | | 5,576,535 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | Federal Home Loan Banks | Fltg Rt 07-24-2020 | | $ | 1,134,900 |
| | Federal Home Loan Banks | Frn 08-04-2020 Reg | | | 2,460,267 |
| | Federal Home Loan Banks | Tranche 00008 Fltg05-08-2020 | | | 3,106,102 |
| | Federal Home Loan Banks | Tranche 00505 Due 02-21-2020 Reg | | | 2,379,778 |
| | Federal Home Loan Banks | Tranche 00793 Fltg09-10-2021 | | | 10,514,878 |
| | Federal Home Loan Banks | Tranche FltgDue 01-22-2021 Reg | | | 1,554,005 |
| | Federal Home Loan Banks | Fltg Tranche 00577 04-20-2020 | | | 17,998,822 |
| | Federal Home Loan Banks | Tranche 00481 2.625% 10-01-2020 | | | 2,568,420 |
| | Federal Home Loan Banks | Tranche Fltg Rt 12-23-2020 | | | 4,999,497 |
| | Federal Home Loan Banks | Cons Disc Nts 01-17-2020 | | | 784,429 |
| | Federal Home Loan Banks | Cons Disc Nts 02-07-2020 | | | 13,095,065 |
| | Federal Home Loan Banks | Disc Nt 03-11-2020 | | | 18,258,582 |
| | Federal Home Loan Banks | Disc Nt Due 03-13-2020 | | | 5,737,959 |
| | Federal Home Loan Banks | 1.59%05-14-2020 | | | 2,704,101 |
| | Federal Home Loan Banks | Federal Home Ln Bks1.56% Due 05-01-2020 Reg | | | 6,068,601 |
| | Federal Home Loan Banks | 1.6% 05-13-2020 | | | 3,863,648 |
| | Federal Home Loan Banks | Fltg01-17-2020 Reg | | | 415,003 |
| | Federal Home Loan Banks | Fltg Due 01-17-2020 Reg | | | 3,900,000 |
| | Federal Home Loan Banks | FltgDue 05-22-2020 Reg | | | 2,264,256 |
| | Federal Home Loan Banks | Fltg Due 10-16-2020 | | | 21,779,914 |
| | Federal Home Loan Banks | Fltg 05-08-2020 | | | 1,150,000 |
| | Federal Home Loan Banks | Fltg Due 08-21-2020 Reg | | | 1,234,801 |
| | Federal Home Loan Banks | Fltg Rate 07-10-2020 | | | 8,172,522 |
| | Federal Home Loan Banks | Fltg Rt 01-14-2020 | | | 2,199,959 |
| | Federal Home Loan Banks | Fltg Rt 02-25-2020 Reg | | | 3,974,634 |
| | Federal Home Loan Banks | Fltg Rt 06-19-2020 | | | 2,029,281 |
| | Federal Home Loan Banks | Tranche 00821 FltgDue 01-17-2020 Reg | | | 4,149,965 |
| | Federal Home Loan Banks | Tranche Fltg Due 10-07-2020 | | | 2,569,148 |
| | Federal Home Loan Banks | 4/6/2020 | | | 3,082,177 |
| | Federal Home Loan Banks | Disc Nt 01-03-2020 0% Disc Nts Snr 03/01/2020 Usd | | | 17,109,282 |
| | Federal Home Loan Banks | Disc Nt 01-08-2020 0% Disc Nts Snr 08/01/2020 Usd | | | 12,986,731 |
| | Federal Home Loan Banks | Disc Nt 01-10-2020 0% Disc Nts Snr 10/01/2020 Usd | | | 4,503,488 |
| | Federal Home Loan Banks | Disc Nt 01-15-2020 0% Disc Nts Snr 15/01/2020 Usd | | | 8,654,004 |
| | Federal Home Loan Banks | Disc Nt 01-21-2020 0% Disc Nts Snr 21/01/2020 Usd | | | 7,124,318 |
| | Federal Home Loan Banks | Disc Nt 01-22-2020 0% Disc Nts 22/01/2020 Usd | | | 18,539,950 |
| | Federal Home Loan Banks | Disc Nt 01-24-2020 0% Disc Nts 24/01/2020 Usd | | | 2,287,511 |
| | Federal Home Loan Banks | Disc Nt 01-31-2020 0% Disc Nts 31/01/2020 Usd | | | 5,433,383 |
| | Federal Home Loan Banks | Disc Nt 02-05-2020 0% Disc Nts 05/02/2020 Usd | | | 6,380,827 |
| | Federal Home Loan Banks | Disc Nt 02-06-2020 0% Disc Nts 06/02/2020 Usd | | | 5,386,239 |
| | Federal Home Loan Banks | Disc Nt 02-13-2020 0% Disc Nts 13/02/2020 Usd | | | 1,885,815 |
| | Federal Home Loan Banks | Disc Nt 02-14-2020 0% Disc Nts 14/02/2020 Usd | | | 13,997,792 |
| | Federal Home Loan Banks | Disc Nt 02-19-2020 0% Disc Nts 19/02/2020 Usd | | | 3,268,363 |
| | Federal Home Loan Banks | Disc Nt 02-21-2020 0% Disc Nts 21/02/2020 Usd | | | 1,197,467 |
| | Federal Home Loan Banks | Disc Nt 03-04-2020 0% Disc Nts 04/03/2020 Usd | | | 5,535,089 |
| | Federal Home Loan Banks | Disc Nt 03-18-2020 0% Disc Nts 18/03/2020 Usd | | | 1,454,060 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | Federal Home Loan Banks | Disc Nt 03-20-2020 0% Disc Nts 20/03/2020 Usd | | $ | 11,954,617 |
| | Federal Home Loan Banks | Disc Nt 03-25-2020 0% Disc Nts 25/03/2020 Usd | | | 4,967,071 |
| | Federal Home Loan Banks | Disc Nt 04-03-2020 0% Disc Nts 03/04/2020 Usd | | | 1,220,097 |
| | Federal Home Loan Banks | Disc Nt 04-08-2020 0% Disc Nts 08/04/2020 Usd | | | 6,880,769 |
| | Federal Home Loan Banks | Disc Nt 04-15-2020 0% Disc Nts 15/04/2020 Usd | | | 6,097,220 |
| | Federal Home Loan Banks | Disc Nt 04-24-2020 0% Disc Nts 24/04/2020 Usd | | | 3,114,575 |
| | Federal Home Loan Banks | Disc Nt 05-06-2020 0% Disc Nts 06/05/2020 Usd | | | 18,070,948 |
| | Federal Home Loan Banks | Disc Nt 05-13-2020 0% Disc Nts 13/05/2020 Usd | | | 9,152,010 |
| | Federal Home Loan Banks | Disc Nt 06-03-2020 0% Disc Nts 03/06/2020 Usd | | | 4,931,660 |
| | Federal Home Loan Banks | Disc Nt 06-05-2020 0% Disc Nts 05/06/2020 Usd | | | 5,626,462 |
| | Federal Home Loan Banks | Disc Nt 06-25-2020 0% Disc Nts 25/06/2020 Usd | | | 3,989,124 |
| | Federal Home Loan Banks | Disc Nt 06-26-2020 0% Disc Nts 26/06/2020 Usd | | | 749,168 |
| | Federal Home Loan Banks | Disc Nt 07-06-2020 0% Disc Nts 06/07/2020 Usd | | | 1,537,427 |
| | Federal Home Loan Banks | Disc Nt 08-14-2020 0% Disc Nts 14/08/2020 Usd | | | 6,119,745 |
| | Federal Home Loan Banks | Tranche 00414 0 07-23-2021 | | | 2,155,000 |
| | Federal Home Loan Banks | Tranche 00415 0 01-24-2020 | | | 3,900,000 |
| | FFCB | Cons Adj Rt 07-08-2021 | | | 2,215,000 |
| | FFCB | Cons Fltg 02-07-2020 | | | 8,909,613 |
| | FFCB | Cons Fltg Rt 03-17-2021 | | | 2,774,766 |
| | FFCB | Cons Systemwide Bds Floating Rate 11-12-2021 | | | 1,145,042 |
| | FFCB | Cons Systemwide Bds Fltg 01-27-2020 | | | 11,431,110 |
| | FFCB | Cons Systemwide Bds Fltg 06-17-2021 | | | 4,059,297 |
| | FFCB | Cons Systemwide Bds Fltg Corp Due 12-14-2020 Reg | | | 4,316,026 |
| | FFCB | Cons Systemwide Bds Fltg Due 10-08-2021 Reg | | | 745,439 |
| | FFCB | Cons Systemwide Bds Fltg Due 11-18-2021 Reg | | | 1,925,000 |
| | FFCB | Cons Systemwide Bds Tranche Var 01-15-2021 Reg | | | 5,001,878 |
| | FFCB | Cons Systemwide Bds Var Rt 09-23-2021 | | | 1,998,903 |
| | FFCB | Fltg 07-01-2021 | | | 3,318,060 |
| | FFCB | Fltg Rate 07-09-2021 | | | 1,020,086 |
| | FFCB | Fltg Rt 04-16-2021 | | | 5,345,666 |
| | FFCB | Fltg Rt 08-17-2020 | | | 2,813,357 |
| | FFCB | Fltg Rate 09-11-2020 | | | 3,932,479 |
| | FFCB | 0% Disc Nt Due08-14-2020 | | | 3,929,005 |
| | FFCB | Cons Disc Nt02-21-2020 | | | 3,891,745 |
| | FFCB | Disc Nt03-10-2020 | | | 7,605,981 |
| | FFCB | Disc Nt 0% Due 05-14-2020 | | | 203,619 |
| | FFCB | Disc Nt Due 01-17-2020 | | | 6,642,401 |
| | FFCB | Disc Nt Due 02-04-2020 | | | 4,080,576 |
| | FFCB | Disc Nt Due 03-24-2020 | | | 6,285,935 |
| | FFCB | Disc Nt Due 06-12-2020 | | | 282,681 |
| | FFCB | Disc Nt Due 06-26-2020 | | | 10,022,404 |
| | FFCB | Disc Nt Due 06-30-2020 | | | 3,477,436 |
| | FFCB | Disc Nt Due 07-07-2020 | | | 203,100 |
| | FFCB | Cons Fltg 06-18-2020 | | | 1,179,518 |
| | FFCB | Disc Nt 03-03-2020 | | | 3,806,249 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | FHLMC | Pool #G08841 3.5% 10-01-2048 Beo | | $ | 413,081 |
| | FHLMC | Pool #Sd8036 3%Due 12-01-2049 Reg | | | 710,565 |
| | FHLMC | Pool #Zm2479 4%01-01-2047 Beo | | | 980,606 |
| | FHLMC | Pool #Zt1777 4%03-01-2049 Beo | | | 827,839 |
| | FHLMC | Ser 4678 Cl Af Fltg Rt 12-15-2042 | | | 148,806 |
| | FHLMC | #Zn2824 4.0% 01-01-2049 | | | 104,082 |
| | FHLMC | Gold Q50962 3.5% 09-01-2047 | | | 50,533 |
| | FHLMC | Multiclass Ser 3828 Cl Sy 02-15-2041 Fltg | | | 4,230 |
| | FHLMC | Multiclass Ser 3951 Cl Us Fltg 02-15-2040 | | | 54,653 |
| | FHLMC | Multiclass Ser 4620 Cl Af 11-15-2042 | | | 103,348 |
| | FHLMC | Pool #Sd8005 3.5% 08-01-2049 | | | 4,624,770 |
| | FHLMC | Fltg Ser 2007-34 Cl S 04-25-2037 Beo | | | 40,768 |
| | FHLMC | Multiclass Ser 3147 Cl Ls 04-15-2036 | | | 84,458 |
| | FHLMC | Multiclass Ser 3218 Cl As 09-15-2036 | | | 91,516 |
| | FHLMC | Multiclass Ser 3218 Cl Sa Flg Rt Due 09-15-2036 | | | 7,215 |
| | FHLMC | Disc Nt 01-17-2020 0% Disc Nts Snr17/01/2020 Usd | | | 1,653,959 |
| | FHLMC | Disc Nt 03-10-2020 0% Disc Nts 10/03/2020 Usd | | | 3,290,276 |
| | FHLMC | Disc Nt 03-18-2020 0% Disc Nts 18/03/2020 Usd | | | 13,862,118 |
| | FHLMC | Disc Nt 05-19-2020 0% Disc Nts 19/05/2020 Usd | | | 3,334,809 |
| | FNMA | Gtd Mtg Pool #Al13786Due 02-01-2027 Beo | | | 17,827 |
| | FNMA | Gtd Mtg Ah6737 42-1-2026 | | | 81,434 |
| | FNMA | Gtd Mtg Pool #Ah9391 4% 03-01-2026 Beo | | | 36,901 |
| | FNMA | Gtd Mtg Pool #Ai2095 4% 05-01-2026 Beo | | | 232,908 |
| | FNMA | Gtd Mtg Pool #Aj1509 4% 09-01-2041 Beo | | | 874,511 |
| | FNMA | Gtd Mtg Pool#Ak2411 4% Due 02-01-2042 Beo | | | 237,028 |
| | FNMA | Gtd Mtg Pool #Al5548 4.23% Due 05-01-2038 Beo | | | 52,658 |
| | FNMA | 00.000Fnra361225Be#Mbs Remic Adjustable 12-25-2036 | | | 40,855 |
| | FNMA | 09-01-2018 Pool Bn0632 4.0% 09-01-2048 | | | 3,121,848 |
| | FNMA | 4% Due 06-01-2049 | | | 621,138 |
| | FNMA | Pool #Ab0183 5% 02-01-2025 Beo | | | 517,008 |
| | FNMA | Pool #Ab1609 4% 10-01-2025 Beo | | | 314,346 |
| | FNMA | Pool #Ab9280 4% 05-01-2043 Beo | | | 206,699 |
| | FNMA | Pool #Ae7017 3.5% Due 10-01-2020 Reg | | | 2,731 |
| | FNMA | Pool #Ao1771 4% 05-01-2042 Beo | | | 141,754 |
| | FNMA | Pool #Ap1215 3.5% 06-01-2043 Beo | | | 318,027 |
| | FNMA | Pool #Bf0299 3.5% 08-01-2058 Beo | | | 720,918 |
| | FNMA | Pool #Bk8894 4% 10-01-2048 Beo | | | 343,754 |
| | FNMA | Pool #Bn0874 4% Due 11-01-2048 Reg | | | 428,212 |
| | FNMA | Pool #Ca2539 4% Due 10-01-2048 | | | 211,188 |
| | FNMA | Pool #Fm1549 4% 09-01-2048 Beo | | | 654,341 |
| | FNMA | Pool #Ma3495 4% Due 10-01-2048 Beo | | | 15,837,605 |
| | FNMA | Pool #Ma3563 4% 01-01-2049 Beo | | | 957,210 |
| | FNMA | Pool #Ma3692 3.5% 07-01-2049 Beo | | | 5,622,326 |
| | FNMA | Pool #Ma3833 2.5% 11-01-2049 Beo | | | 4,944,919 |
| | FNMA | Pool #Ma3871 3% 12-01-2049 Beo | | | 3,347,750 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | FNMA | Remic Tr 2010-2 Cl-Gf Fltg 12-25-2049 | | $ | 12,989 |
| | FNMA | Ser 19-28 Cl Fj FltgDue 06-25-2059 Reg | | | 903,178 |
| | FNMA | Ser 2011-40 Cl Sx Var Rt Due 11-25-2040 Beo | | | 1,179 |
| | FNMA | Single Family Mortgage 2.5% 30 Years Settles February | | | 1,185,852 |
| | FNMA | Single Family Mortgage 3% 30 Years Settles February | | | 6,383,600 |
| | FNMA | Single Family Mortgage 3.5% 15 Years Settles February | | | 9,949,125 |
| | FNMA | Single Family Mortgage 3.5% 30 Years Settles February | | | 15,443,911 |
| | FNMA | Single Family Mortgage 4% 30 Years Settles February | | | 5,202,539 |
| | FNMA | Single Family Mortgage 4% 30 Years Settles March | | | 8,113,709 |
| | FNMA | Single Family Mortgage 5% 30 Years Settles January | | | 2,672,656 |
| | FNMA | Sr 06-114 Cl Af Fltg 12-25-2036 | | | 904,679 |
| | FNMA | Tranche 00553 Fltg Due 06-25-2049 | | | 1,109,794 |
| | FNMA | 2007-15 Cl Ai Var 03-25-2037 | | | 16,302 |
| | FNMA | Fnr 2007-56 Gs Flt Rt 06-25-2037 | | | 82,540 |
| | FNMA | Fr Cmo 25/03/37 Usd 03-25-2037 | | | 6,134 |
| | FNMA | Remic Tr 2009-87 Cl-Hs Var Rate 11-25-2039 | | | 5,538 |
| | FNMA | Ser 2007-32 Cl Sa Fltg Rt 04-25-2037 | | | 21,705 |
| | FNMA | Ser 2007-4 Cl Sl Fltg Rt 02-25-2037 | | | 5,119 |
| | FNMA | Ser 2007-89 Cl Sd Fltg Rt 09-25-2037 | | | 59,649 |
| | FNMA | Remic Tr 2011-60 Cl-Oa Prin Only 08-25-2039 Reg | | | 33,441 |
| | FNMA | Tranche Fltg Due 05-22-2020 | | | 2,274,814 |
| | GNMA | 2016-H13 Remic Pass Thru Secs Cl Ft05-20-2066 | | | 189,817 |
| | GNMA | 2016-H17 Mtg Pass Thru Ctf Cl Mx Fc08-20-2066 | | | 432,595 |
| | GNMA | 2016-H20 Remic Passthru Ctf Cl Fg08-20-2066 | | | 126,028 |
| | GNMA | 2017-H05 Remic Passthru Ctf Cl Fc Fltg 02-20-2067 | | | 581,459 |
| | GNMA | 2017-H14 Remic Passthru Ctf Cl Fg06-20-2067 | | | 557,160 |
| | GNMA | Fltg Rt Ser 18-H15 Cl Fg 08-20-2068 Reg | | | 187,810 |
| | GNMA | Ii Jumbos 3% 30 Years Settles February | | | 1,642,263 |
| | GNMA | Ii Jumbos 3.5 30 Years Settles Feb | | | 2,371,426 |
| | GNMA | Ii Jumbos 4% 30 Years Settles February | | | 10,359,063 |
| | GNMA | Ii Jumbos 4% 30 Years Settles January | | | 828,000 |
| | GNMA | Ii Jumbos 4.5% 30 Years Settles February | | | 942,609 |
| | GNMA | Ii Jumbos 5% 30 Years SettlesJanuary | | | 5,264,063 |
| | GNMA | Pool #Ab9437 3.5 Due 11-15-2042 Reg | | | 245,596 |
| | GNMA | Pool #Ak8998 3% 07-15-2045 Beo | | | 551,237 |
| | GNMA | Pool #Al1871 3% 01-15-2045 Beo | | | 266,604 |
| | GNMA | Pool #Al5414 3.5% 02-15-2045 Beo | | | 136,866 |
| | GNMA | Pool #Am4137 3.5% 04-15-2045 Beo | | | 131,588 |
| | GNMA | Pool #Ma5265 4.5% 06-20-2048 Beo | | | 1,186,074 |
| | GNMA | Pool #Ma5764 4.5% 02-20-2049 Beo | | | 2,790,863 |
| | GNMA | RemicSer 2013-H16 Cl FaFltg 07-20-2063 | | | 113,757 |
| | GNMA | Remic 2015-H30 Cl Fd Flt Rt 10-20-2065 | | | 120,174 |
| | GNMA | Remic Sr 16-H09 Cl FbFltg Rt 04-20-2066 | | | 79,972 |
| | GNMA | Ser 15-H08 Cls Fb Fltg Due 03-20-2065 | | | 447,801 |
| | GNMA | Ser 2015-H20 Cl Fb Flt Rt08-20-2065 | | | 222,745 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | GNMA | Pool #Ma5400 Ser 2048 5% Due 08-20-2048 Reg | | $ | 1,176,149 |
| | GNMA | Pool #Ma5988 5.0% 06-20-2049 | | | 504,434 |
| | United States of America | 2.5% Treas Nts 01-31-2024 | | | 599,099 |
| | United States of America | Treas Bonds Dtd 02/15/2015 2.5% Due 02-15-2045 Reg | | | 1,329,555 |
| | United States of America | Treas Notes 2.0% 11-30-2022 | | | 9,007,552 |
| | United States of America | T-Bond 2.875% 05-15-2049 | | | 2,541,949 |
| | United States of America | Treas 2.25% Due 02-15-2027 Reg | | | 205,617 |
| | United States of America | Treas Bds 2.875% Due 11-15-2046 | | | 219,922 |
| | United States of America | Treas Bds 2.25% 08-15-2049 | | | 291,844 |
| | United States of America | Treas Bds 3% Due 05-15-2047 Reg | | | 337,887 |
| | United States of America | Treas Bds 3.0% Due 08-15-2048 | | | 779,080 |
| | United States of America | Treas Bds 3.0% Due 02-15-2048 | | | 800,192 |
| | United States of America | Treas Bds Dtd 3.125% 05-15-2048 | | | 427,119 |
| | United States of America | Treas Bds Dtd 2.75% 08-15-2047 | | | 1,128,873 |
| | United States of America | Treas Bds Tbond Fixed 3% 02-15-2049 | | | 1,470,422 |
| | United States of America | Treas Nts 1.5% Due 05-15-2020 Reg | | | 1,929,020 |
| | United States of America | Treas Nts 1.875% 08-31-2024 | | | 10,086 |
| | United States of America | Treas Nts 2.020859148% Due07-31-2020 Reg | | | 7,528,035 |
| | United States of America | Treas Nts 2.625 Due 11-15-2020 Reg | | | 2,727,718 |
| | United States of America | Treas Nts Dtd 04/30/20182.375% Due 04-30-2020 Reg | | | 4,119,954 |
| | United States of America | Treas Nts Dtd 05/31/20151.5% Due 05-31-2020 Reg | | | 1,923,938 |
| | United States of America | Treas Nts Dtd 06/30/20151.625% Due 06-30-2020 Reg | | | 235,000 |
| | United States of America | Treas Nts Dtd 08/15/20191.625% Due 08-15-2029 Reg | | | 2,729,891 |
| | United States of America | Treas Nts Dtd 11/15/20142.25% Due 11-15-2024 Reg | | | 646,513 |
| | United States of America | Treas Nts Dtd 11/15/20162.0% 11-15-2026 Reg | | | 5,766,129 |
| | United States of America | Treas Nts Dtd 604 2.375%Due 08-15-2024 Reg | | | 206,125 |
| | United States of America | Treas Nts Fixed 1.375% Due 09-30-2020 | | | 2,694,516 |
| | United States of America | Treas Nts Fltg Rt 07-31-2021 | | | 5,002,140 |
| | United States of America | Treas Nts Frn Due 10-31-2020 Reg | | | 7,996,155 |
| | United States of America | Treas Nts Treas Nts 2% Due11-30-2020 Reg | | | 652,107 |
| | United States of America | Treas Bds 4.375 Due 05-15-2040 Reg | | | 2,017,324 |
| | United States of America | Treas Nts Dtd 03-31-20182.25% Due 03-31-2020 Reg | | | 1,977,777 |
| | United States of America | Treasury N/B 2.375%05-15-2029 | | | 1,404,158 |
| | United States of America | Treas 2.125% 11-30-2024 | | | 204,086 |
| | United States of America | Treasury Sec. Frn Due 10-31-2021 Reg | | | 3,050,116 |
| | United States of America | Treas Nts Fltg Rt 04-30-2021 Reg | | | 839,539 |
| | United States of America | Tsy Infl Ix N/BTreas Bonds 0.75%02-15-2045 | | | 1,915,238 |
| | United States of America | Tsy Infl Ix N/B 0.125%01-15-2022 | | | 602,287 |
| | United States of America | Tsy Infl Ix N/B 0.375% 07-15-2027 | | | 5,708,807 |
| | United States of America | Tsy Infl Ix N/B 1% Tips 02-15-2048 | | | 4,298,872 |
| | United States of America | Tsy Infl Ix N/B Us Gvt National 0.375%01-15-2027 | | | 9,582,126 |
| | United States of America | Bds Indx Lnkd 0.875% 02-15-2047 | | | 2,886,684 |
| | United States of America | Infl Indxd Treas Notes 0.25% Tb01-15-25 Usd1000 A-2025 | | | 3,622,783 |
| | United States of America | Treas Bonds 04-15-2028 | | | 5,802,587 |
| | United States of America | Treas Bonds 0.625% Tips Infl Idx 02-15-2043 Usd1000 | | | 475,406 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | United States of America | Treas Bonds 0.75Deb Tips 02-15-2042 | | $ | 2,649,509 |
| | United States of America | Treas Notes 1.2507-15-2020 | | | 1,965,605 |
| | United States of America | Treas Notes Infl Idx T-Bond .875% 01-15-2029 | | | 2,056,262 |
| | United States of America | Treas Notes Nts 0.125% Infl Index 07-15-2026 | | | 6,246,463 |
| | United States of America | Treas Bds 1.375 02-15-2044 Reg | | | 4,609,416 |
| | United States of America | Treas Bds 2.125 2-15-2041 | | | 4,147,942 |
| | United States of America | Treas Bds Index Linked 1.75 Due 01-15-2028 Reg | | | 3,164,181 |
| | United States of America | Treas Bds Inflation Index Linked 3.875% 04-15-2029 | | | 463,684 |
| | United States of America | Treas Bds Tsy Infl Ix N/B 02-15-2046 | | | 1,325,701 |
| | United States of America | Treas Bonds 1.0% 02-15-2049 | | | 2,090,879 |
| | United States of America | Treas InflNts 0.375%Dtd 07/15/201507-15-2025 | | | 2,953,101 |
| | United States of America | Treas Infl Idx 0.25% 07-15-2029 | | | 4,693,054 |
| | United States of America | Treas Infl Index Nts 0.500005%01-15-2028 | | | 7,693,950 |
| | United States of America | Treas Infl Indexed Nts .125%01-15-2023 | | | 9,486,769 |
| | United States of America | Treas Infl Indexed Nts .125%07-15-2022 | | | 887,749 |
| | United States of America | Treas Infl Indexed Nts 0.75%07-15-2028 | | | 2,771,824 |
| | United States of America | Treas Nts Infl Idx 0.625% 04-15-2023 | | | 9,742,110 |
| | United States of America | Treas Nts Infl Idx Dtd0.625%01-15-2026 | | | 10,526,029 |
| | United States of America | Treas Nts Tips .375 07-15-2023 | | | 5,620,007 |
| | United States of America | Treas Bds Index Linked 2.00 Due 01-15-2026 Reg | | | 1,262,499 |
| | United States of America | Treas Bds Index Linked 2.5 Due 01-15-2029 Reg | | | 2,670,907 |
| | United States of America | Treas Bds Index Linked Notes 2.375 Due 01-15-2027 Reg | | | 88,375 |
| | United States of America | Treas Infl Indexed Bonds 2.375 Due 01-15-2025 Beo | | | 15,915,204 |
| | United States of America | Treas Infl Indexed Bonds 3.375 Due 04-15-2032 Ar12 Due 04-15-32 Reg | | | 214,967 |
| | United States of America | Treas Nts Infl Idx Dtd 04-15-2017 0.125% Due 04-15-2022 | | | 19,730,039 |
| | United States of America | Treas Nts Tips Dtd 07-15-2011 07-15-2021 | | | 472,229 |
| | United States of America | Treasury Dtd 02/15/2010 02-15-2040 | | | 1,571,705 |
| | United States of America | Tsy Infl Ix Treas Bd 0.625 01-15-2024 | | | 295,079 |
| | United States of America | Treasury Nts 1.125% Tips 15/1/21 Usd1000 01-15-2021 | | | 1,151,676 |
| | United States of America | Tbill 05-28-2020 | | | 5,793,452 |
| | United States of America | Treas Bills 0% 04-23-2020 | | | 15,023,019 |
| | United States of America | Treas Bills 0% T-Bill 02-13-2020 | | | 36,561,440 |
| | United States of America | Treas Bills 0% T-Bill 02-20-2020 | | | 568,825 |
| | United States of America | Treas Bills 0% T-Bill 09-10-2020 | | | 2,290,368 |
| | United States of America | Treas Bills 05-07-2020 Treas Bills | | | 7,181,495 |
| | United States of America | Treas Bills Due 04-09-2020Reg | | | 6,995,832 |
| | United States of America | Federal Treasury Bills 01-02-2020 Us Federal Treasury Bills | | | 7,000,000 |
| | United States of America | Federal Treasury Bills 02-27-2020 | | | 11,348,281 |
| | United States of America | Treasury Bills 0% T-Bill 01-23-2020 | | | 1,293,890 |
| | Argentina(Rep Of) | Frn 04/2022 Ars1 | | | 2,538 |
| | Argentina(Rep Of) | Frn 06/2020 Ars1 | | | 119,810 |
| | Australia | (Cmnwlth) Idx/Lkd Snr20/09/2025 Aud | | | 516,747 |
| | Australia | Index Linked Bnds 1.25% 21/02/2022 | | | 428,585 |
| | Brazil | Secretaria Tesouro 0% T-Bill 01/07/20 Brl'Ltn' | | | 109,349 |
| | Brazil | Secretaria Tesouro 0% T-Bill 01/04/20 Brl'Ltn' | | | 1,181,034 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Government securities (continued) | | | | |
| | Canada | 4.25% Idx/Lkd 01/12/26Cad | | $ | 304,842 |
| | Czech Republic | 44105 | | | 706,833 |
| | France (Govt Of) | 1.87% Idx/Lkd Snr 25/07/27 | | | 155,814 |
| | France (Govt Of) | 2.25% Idx/Lkd Snr 25/07/20 | | | 587,672 |
| | Italy | 1.75% Snr 01/07/24 Eur1000 | | | 4,493,099 |
| | Japan | Development Bk Japan Inc Nt 144A 1.625% Due 09-01-2021 Beo | | | 298,586 |
| | Japan | Pvtpl Japan Fin Organization For Municipalities 2.0% 09-08-2020 | | | 300,225 |
| | Korea | Expwy Corp Global Medium Term 144A 3.625% Due 10-22-2021 Reg | | | 512,925 |
| | Kuwait | St Nt 144A 3.5% Due 03-20-2027 Beo | | | 644,784 |
| | Mexico | (Utd Mex St) 4.5% Index Linked Bds22/11/35 Mxn100 | | | 377,685 |
| | Mexico | (Utd Mex St) 0% T-Bill 09/01/2020 Mxn | | | 2,093,217 |
| | Netherlands | Pvptl Tranche # Tr 41 2.125% 12-14-2020 | | | 300,945 |
| | Netherlands | Waha Aerospace B V Gtd Bd 144A 3.925 Due07-28-2020 Beo Sinking Fund 01-28-2020 | | 70,167 |
| | New Zealand | Idx/Lkd Snr 20/09/2025Nzd | | | 967,165 |
| | Peru | 6.15% Gtd 12/08/2032 Pen | | | 308,277 |
| | Saudi Arabia | Kingdom Global Medium Term Tranche # Tr 4 2.875% 03-04-2023 | | | 610,548 |
| | Saudi Arabia | Kingdom Global Medium Term Tranche # Tr 5 3.625% Due 03-04-2028 Reg | | | 211,089 |
| | Spain | (Kingdom Of) 4% Snr 30/04/2020 Eur1000 | | | 569,476 |
| | California St | 5.7% 11-01-2021 Beo Taxable | | | 107,038 |
| | California St | 7.7% 11-01-2030 Beo Taxable | | | 104,740 |
| | California St | 7.95 03-01-2036 Beo Taxable | | | 100,946 |
| | California St | Los Angeles Cnty Calif Pub Wks Fing Authlease Rev 6.091% 08-01-2022 Beo Taxable | | 440,400 |
| | Florida St | Seminole Cnty Fla Wtr & Swr Rev 6.443%10-01-2040 Beo Taxable | | | 413,540 |
| | Illinois St | Taxable-Ser 1-Build Amer6.63% Due 02-01-2035 Beo Taxable | | | 832,503 |
| | Michigan St | Univ Revs 6.173% 02-15-2050 Beo Taxable | | | 618,345 |
| | New York St | N Y City Hsg Dev Corp MltifamMtg Rev 3.709 02-15-2048 Beotaxable | | | 737,401 |
| | New York St | Dorm Auth St Pers Income Taxrev 5.289% 03-15-2033 Beo Taxable | | | 606,950 |
| | Port Auth NY & NJ | 3.287% Due08-01-2069 Reg Taxable | | | 285,276 |
| | Port Auth NY & NJ | 4.458% 10-01-2062 Beo Taxable | | | 367,680 |
| | Small business Admin | Gtd Dev Partn Ctf5.12 Due 11-01-2027 Reg | | | 178,393 |
| | Texas St | Transn Commn St Hwy Fd Rev 5.028% 04-01-2026 Beo Taxable | | | 562,090 |
| | | | | | |
| | Corporate debt instruments | | | | |
| | #Reorg/Targa Res MandatoryExchange Targa Res | 411Ta8H 01-22-2020 | | | 82,125 |
| | #Reorg/Targa Res MandatoryExchange Targa Res | 4C1Natj 01-22-2020 | | | 69,930 |
| | Abbvie Inc | 2.9% Due 11-06-2022 | | | 306,186 |
| | Abbvie Inc | 3.2% 11-06-2022 | | | 307,837 |
| | Acadia Healthcare | 5.625% Due 02-15-2023 | | | 10,163 |
| | Acadia Healthcare | 6.5% Due 03-01-2024 | | | 176,163 |
| | Acrisure Llc | 8.125% Due 02-15-2024 | | | 103,313 |
| | Actuant Corp | 5.625% Due 06-15-2022 | | | 227,250 |
| | Aecom | 5.125% Due 03-15-2027 | | | 274,125 |
| | Aecom | 5.875% Due 10-15-2024 | | | 13,280 |
| | Aercap Ireland Cap | 4.625% Due 10-30-2020 | | | 408,003 |
| | Aes Corp | 4% Due 03-15-2021 | | | 55,756 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Aflac Inc | 6.45% Due 08-15-2040 | | $ | 180,992 |
| | Air Lease Corp | 2.5% 03-01-2021 | | | 301,382 |
| | Air Lease Corp | 3.375% Due 06-01-2021 | | | 203,399 |
| | Aircastle Ltd | 5.125% Due 03-15-2021 | | | 309,929 |
| | Albertsons Cos Llc | Fixed 5.75% Due 03-15-2025 | | | 98,325 |
| | Albertsons Cos Llc | Fixed 6.625% Due 06-15-2024 | | | 5,233 |
| | Alcoa Inc | 5.4% Due 04-15-2021 | | | 231,961 |
| | Alcoa Inc | 5.9% Due 02-01-2027 | | | 89,332 |
| | Alexandria Real | 2.75% Due 12-15-2029 | | | 395,297 |
| | Alexandria Real | 4% Due 01-15-2024 | | | 213,103 |
| | Alexandria Real | 4.7% Due 07-01-2030 | | | 115,276 |
| | Alliance Res Oper | 7.5% Due 05-01-2025 | | | 154,700 |
| | Ally Finl Inc | 4.125% Due 03-30-2020 | | | 200,750 |
| | Ally Finl Inc | 5.75% Due 11-20-2025 | | | 246,125 |
| | Ally Master Owner Trust | 2018-3 Cl A Frn 07-15-2022 Beo | | | 200,113 |
| | Altice Fing S A | 7.5% Due 05-15-2026 | | | 295,625 |
| | Amc Networks Inc | 4.75% Due 08-01-2025 | | | 105,394 |
| | Amc Networks Inc | 4.75% Due 12-15-2022 | | | 196,706 |
| | Amc Networks Inc | 5% Due 04-01-2024 | | | 174,420 |
| | American Honda Fin Corp | Med Term Nts Var Rt Due 02-15-2022 | | | 401,300 |
| | Americredit | 1.8% Due 10-08-2021 | | | 85,753 |
| | Amerigas Partners | 5.625% Due 05-20-2024 | | | 141,480 |
| | Amerigas Partners | 5.75% Due 05-20-2027 | | | 82,313 |
| | Amern Axle & Mfg | 6.625 Due 10-15-2022 | | | 249,383 |
| | Amern Elec Pwr Co | 2.15% Due 11-13-2020 | | | 100,196 |
| | Amern Express Co | 3.7% Due 11-05-2021 | | | 309,167 |
| | Amern Intl Group | 4.375% Due 01-15-2055 | | | 768,673 |
| | Amern Tower Corp | Fixed 2.8% Due 06-01-2020 | | | 401,152 |
| | Amern Tower Corp | Sr Nt 5.9 Due 11-01-2021 | | | 320,384 |
| | Ancestry.Com Inc. | Term Loan Due 08-27-2026 Beo | | | 395,169 |
| | Anheuser Busch Inbev Worldwide Inc | 4.15% 01-23-2025 | | | 544,934 |
| | Anixter Inc | 5.125% Due 10-01-2021 | | | 197,211 |
| | Anixter Inc | 5.5% Due 03-01-2023 | | | 52,625 |
| | Anixter Inc | 6.0% 12-01-2025 | | | 114,400 |
| | Antero Midstream | 5.75% Due 01-15-2028 | | | 95,700 |
| | Arby'S Restaurant Group Inc | Term Bank Loan 01-17-2025 | | | 145,028 |
| | Archrock Partners | 6.875% Due 04-01-2027 | | | 108,923 |
| | Arconic Inc | 5.95% Due 02-01-2037 | | | 60,002 |
| | Ardagh Packaging | 6% Due 02-15-2025 | | | 419,500 |
| | Ardent Health Partners, Llc | Tl 06-16-2025 Beo | | | 269,163 |
| | Asbury Automotive | 6% Due 12-15-2024 | | | 191,013 |
| | Ast Backed Fdg | Fltg Rt 2.24675% Due 04-25-2034 | | | 21,346 |
| | At&T Inc | 4.0% 01-15-2022 | | | 311,849 |
| | At&T Inc | Fixed 4.1% 02-15-2028 | | | 1,775,858 |
| | At&T Inc | Fixed 5.15% Due 02-15-2050 | | | 120,656 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value�� |
| | Corporate debt instruments (continued) | | | | |
| | At&T Inc | Fltg Rt 2.78125% Due 07-15-2021 | | $ | 403,807 |
| | At&T Inc | Nt Fltg Due 06-01-2021 Reg | | | 301,780 |
| | At&T Inc | Nt Fltg Due 06-01-2021 Reg | | | 402,374 |
| | Avantor Inc | 6% Due 10-01-2024 | | | 293,213 |
| | Aviation Cap Group | Fltg Rt 2.53038% Due 06-01-2021 | | | 301,293 |
| | Aviation Cap Group | Sr Nt Fltg 144A Due 07-30-2021 Beo | | | 599,988 |
| | B A T Cap Corp | Fixed 0% Due 08-14-2020 | | | 200,348 |
| | Bacardi Ltd | 4.45% Due 05-15-2025 | | | 1,078,492 |
| | Banc Of America Merrill Lynch | Large Lo Series 2015-200P Class A 3.218% 4-14-33 | | | 725,791 |
| | Banco Santander Sa Frns | 04-12-2023 | | | 201,284 |
| | Bank Amer Corp | 3.3% Due 01-11-2023 | | | 206,776 |
| | Bank Amer Corp | 3.419% 12-20-2028 | | | 305,592 |
| | Bank Amer Corp | 3.499% 05-17-2022 | | | 306,027 |
| | Bank Amer Corp | 5.875% Due 12-31-2049 | | | 88,704 |
| | Bank Amer Corp | Bds 4 04-01-2024 | | | 348,102 |
| | Bank Amer Corp | Medium Term Sr Nt Ser M 03-05-2024 | | | 200,940 |
| | Bank Amer Corp | 3.004% 12-20-2023 | | | 176,015 |
| | Banque Federative | Fltg Rt 3.5515% Due 07-20-2023 | | | 202,746 |
| | Barclays Bk Plc | 7.625 Due 11-21-2022 | | | 1,348,500 |
| | Barclays Plc | 3.684% Due 01-10-2023 | | | 205,099 |
| | Barclays Plc | Glb Flt% Aug 10 2021 Due 08-10-2021 Beo | | | 204,736 |
| | Barclays Plc | Fltg Rt 5.088% Due 06-20-2030 | | | 223,008 |
| | Bayer Us Fin Ii | 4.375% Due 12-15-2028 | | | 327,476 |
| | Bayer Us Fin Ii Llc Gtd Nt | Fltg Rate 144A Due 12-15-2023/06-25-2018 Beo | | | 301,787 |
| | Benchmark | 2019-B15 Mtg Tr Coml Mtg 19-B15 Aab 2.85% 12-15-2072 | | | 510,287 |
| | Berry Global Inc | 6.0% 10-15-2022 | | | 64,181 |
| | Bj S Wholesale Club Inc | Term Loan B 02-03-2024 | | | 215,627 |
| | Bldg Matls Corp | 5.375% Due 11-15-2024 | | | 755,213 |
| | Blue Cube Spinco | 10% Due 10-15-2025 | | | 50,865 |
| | Blue Cube Spinco | 9.75% Due 10-15-2023 | | | 241,947 |
| | Bnp Paribas | Bnds 4.25 Due 10-15-2024 | | | 643,782 |
| | Bnp Paribas | Sr Non 2.819% Due 11-19-2025 | | | 607,126 |
| | Bombardier Inc | 8.75% Due 12-01-2021 | | | 447,015 |
| | Brand Energy & Infrastructure ServicesInc Term | Term Ln Due 06-14-24 | | | 286,398 |
| | Brinker Intl Inc | 3.875% Due 05-15-2023 | | | 50,625 |
| | Brixmor Oper | 4.125% Due 05-15-2029 | | | 644,629 |
| | Broadcom Corp | 2.375% Due 01-15-2020 | | | 300,013 |
| | Broadcom Corp | 3% Due 01-15-2022 | | | 202,959 |
| | Brookfield Fin Inc | 4.85% 03-29-2029 | | | 801,580 |
| | Bstn Scientific | 3.75% Due 03-01-2026 | | | 214,386 |
| | Buckeye Partners L | 3.95% Due 12-01-2026 | | | 132,346 |
| | Buckeye Partners L | Buckeye Partners L 5.6% Due 10-15-2044 | | | 63,041 |
| | Bway Hldg Co | Tlbsr Secd 1St Lien Due 04-03-2024 Beo | | | 218,659 |
| | Cablevision Sys | 5.875% Due 09-15-2022 | | | 290,925 |
| | Callon Petroleum Co | 6.375% 07-01-2026 | | | 111,607 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Calpine Corp | 5.25% Due 06-01-2026 | | $ | 93,713 |
| | Camelot Fin S A | 4.5% Due 11-01-2026 | | | 179,813 |
| | Campbell Soup Co | 4.25% Due 04-15-2021 | | | 309,162 |
| | Campbell Soup Co | Fltg Rt 1.3705% Due 03-15-2021 | | | 200,420 |
| | Campbell Soup Co | Fltg Rt 2.39363% Due 03-16-2020 | | | 200,059 |
| | Cards Ii Tr | 3.04699993134% Due 04-17-2023 | | | 501,177 |
| | Care Cap Pptys Lp | 5.125% Due 08-15-2026 | | | 118,473 |
| | Cco Hldgs Llc | 5.125% Due 02-15-2023 | | | 328,656 |
| | Cco Hldgs Llc | 5.25% Due 09-30-2022 | | | 50,563 |
| | Cco Hldgs Llc | 5.375% Due 05-01-2025 | | | 469,788 |
| | Cd Commercial Mort | Tr Ser 2018-Cd7 Cl Asb 4.213% 08-15-2051 | | | 764,657 |
| | Cdk Global Inc | Fixed 4.5% Due 10-15-2024 | | | 56,290 |
| | Centene Corp Del | 6.125% Due 02-15-2024 | | | 32,163 |
| | Centennial Res | 6.875% Due 04-01-2027 | | | 100,880 |
| | Centurylink Inc | 5.125% Due 12-15-2026 | | | 61,058 |
| | Centurylink Inc | 5.8 Due 03-15-2022 | | | 551,917 |
| | Centurylink Inc | 6.45% Due 06-15-2021 | | | 41,870 |
| | Centurylink Inc | 6.75% Due 12-01-2023 | | | 61,394 |
| | Centy Tel | 6.875% Due 01-15-2028 | | | 137,813 |
| | Change Healthcare | 5.75% Due 03-01-2025 | | | 245,573 |
| | Change Healthcare Holdings Inc | Senior Secd 1St Lien Due 03-01-2024Beo | | | 123,731 |
| | Charte | 3.579% Due 07-23-2020 | | | 100,637 |
| | Chase Issuance Trust | Ser 2017-A1 Cl A Frn 01-18-2022 | | | 400,052 |
| | Cheniere Corpus | 5.875% Due 03-31-2025 | | | 179,914 |
| | Cheniere Corpus Christi Hldgs Llc | 5.125% 06-30-2027 | | | 165,777 |
| | Cheniere Energy | 5.625% Due 10-01-2026 | | | 169,200 |
| | Cheniere Energy | Fixed 5.25% Due 10-01-2025 | | | 135,472 |
| | Cinemark Usa Inc | 5.125% Due 12-15-2022 | | | 202,200 |
| | Cit Group Inc | New 6.125% Due 03-09-2028 | | | 177,000 |
| | Citibank N A | 3.05% Due 05-01-2020 | | | 401,204 |
| | Citibank N A | Fltg 07-23-2021 | | | 753,200 |
| | Citibank N A | Fltg Rt 05-20-2022 Reg | | | 301,125 |
| | Citigroup Coml Mtg | 3.608% Due 11-10-2048 | | | 625,291 |
| | Citigroup Inc | 2.35% Due 08-02-2021 | | | 1,106,789 |
| | Citigroup Inc | 2.75% Due 04-25-2022 | | | 203,205 |
| | Citigroup Inc | Fltg Rt 3.10413% Due 10-26-2020 | | | 201,888 |
| | Citigroup Inc | Global Sr Nt Fltg Due 10-27-2022/09-27-2022 Reg | | | 302,356 |
| | Cmo Bear Stearns | Alt-A Tr 2006-8 Mtg Passthru Ctf Cl Iii-A-1 01-25-2037 Reg | | | 288,135 |
| | Cmo Bear Stearns | Arm Tr Ser 2004-10 Cl I2A5 3.82968% Due 01-25-2035 Beo | | | 73,777 |
| | Cmo Benchmark | 019-B14 Mtg Tr Ser 19-B14Cls Asb 2.9571% Due 12-15-2061 Reg | | | 927,346 |
| | Cmo Citigroup Coml Mtg | Tr 2019-Gc43 Ser 19-Gc43 Cls Aab 2.8841% 11-10-2052 | | | 908,223 |
| | Cmo Cwmbs Inc | Ser 2004-Hyb2 Cl 6-A Flt Rt Due 07-20-2034 Beo | | | 33,038 |
| | Cmo Exantas Capital Corp | Fltg Rt 04-15-2036 | | | 699,545 |
| | Cmo Gs Mtg Secs | Tr 2010-C2 3.849 Due 12-10-2043 Beo | | | 8,028 |
| | Cmo Gs Mtg Secs Corp | 2004-Cw1 Cl Iia-1 6% Due 04-01-2034 Reg | | | 150,221 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Cmo Gs Mtg Secs Corp | 2005-Ar7 Mtg Passthru Ctf Cl 2A1 Due 11-25-2035 Reg | | $ | 18,521 |
| | Cmo Gs Mtg Secs Corp | Ser 2005-Ar6 Cl 1A1Due 09-25-2035 Reg | | | 31,846 |
| | Cmo Harborview Mtg Ln | Ser 05-9 Cl B1 Fltg 06-20-2035 | | | 452,377 |
| | Cmo Harborview Mtg Ln | Tr 2004-1 Passthructf Cl 2-A 4.6186 04-19-2034 Reg | | | 18,596 |
| | Cmo Harborview Mtg Ln | Ln Tr 2005-11 Mtg Passthru Ctf 2-A1A Due 08-19-2045 Reg | | | 244,371 |
| | Cmo Jpmbb Coml Mtg Secs | Tr 2015-C31 Cl Asb 3.5395% Due 08-15-2048 Beo | | | 622,115 |
| | Cmo Jpmbb Coml Mtg Secs | Tr Ser 2015-C32 Cl Asb 3.3582% 11-15-2048 | | | 619,043 |
| | Cmo Jpmbb Coml Mtg Secs | Tr 2016-C2 Mtg Pass Thru Ctf Cl A-Sb 2.9542 06-15-2049 | | | 613,712 |
| | Cmo Jpmbb Coml Mtg Secs | Tr Sr 2019-Cor6 Cl Asb 2.9815% 04-13-2029 | | | 924,638 |
| | Cmo Merrill Lynch Mtg Invs Inc | Iii-A Due 05-25-2033 | | | 9,044 |
| | Cmo Merrill Lynch Mtg Invs Inc | 2004-D Cl A1 09-25-2029 Reg | | | 23,696 |
| | Cmo Merrill Lynch Mtg Invs Inc | Ser 2003-C Cl A1 6-25-28 | | | 3,347 |
| | Cmo Structured Asset Mtg Invts Ii Inc | Ser 04-Ar2 Cl Ia Var 05-19-2034 Reg | | | 46,440 |
| | Cmo Structured Asset Secs Corp | 2003-40A Cl 3-A1 Due 01-25-2034 Beo | | | 84,208 |
| | Cmo Structured Ast Mtg Invts Ii Inc | Due 07-19-2035 Reg | | | 13,060 |
| | Cmo Thornburg Mtg Secs | Tr 2007-4 Mtg Pass Thru Ctf Cl 3A-1 Due 09-25-2037 Beo | | | 3,771 |
| | Cmo Ubs Coml Mtg | Tr 2018-C12 Mtg Ser 2018-C12 Cls Asb 4.1945% 07-15-2051 | | | 760,324 |
| | Cmo Ubs Coml Mtg | Tr Ser-2018-C11 Cl-Asb 4.1186% 07-15-2051 Reg | | | 432,508 |
| | Cmo Wa Mut Mtg Secs Corp | 2005-Ar1 Cl A-1A Var Due 12-25-2044 Reg | | | 41,764 |
| | Cmo Wamu Mtg | Pass-Thru Ctfs 2005-Ar8 Ctfcl 2-A-1A Due 07-25-2045 Reg | | | 102,465 |
| | Cmo Wamu Mtg | Pass-Thru Ctfs Ser 2005-Ar13 Cl A-1A1 Flt 10-25-45 | | | 311,016 |
| | Cmo Wells Fargo Coml Mtg | Tr Ser 2015-Nxs4 Mtg Ctf Cl Asb 3.522% 12/15/2048 | | | 623,662 |
| | Cmo Wells Fargo Coml Mtg | Tr 2019-C54 2.832% Due 12-15-2052 Reg | | | 517,253 |
| | Cmo Wells Fargo Coml Mtg | Tr Ser 2019-C53 Cl Asb 2.964% 10-15-2052 | | | 924,875 |
| | Cmo Wells Fargo Coml Mtg | Tr Ser-2018-C45 Cl-Asb 4.147% 06-15-2051 Reg | | | 653,877 |
| | Cnx Midstream | 6.5% Due 03-15-2026 | | | 124,538 |
| | Coml Metals Co | 5.375% Due 07-15-2027 | | | 152,250 |
| | Compass Group | 8% Due 05-01-2026 | | | �� 238,150 |
| | Conagra Brands Inc | 3.8% 10-22-2021 | | | 412,785 |
| | Conagra Brands Inc | 4.3% 05-01-2024 | | | 323,102 |
| | Connect Finco Sarl/Connect U S Finco L | 6.75% Due 10-01-2026 | | | 575,100 |
| | Constellation Brands Inc | Fltg 11-15-2021 | | | 300,052 |
| | Continental Airls | Pass Thru Tr 2007-1A 5.983% Due 04-19-2023 | | | 136,169 |
| | Cooperatieve Rabobank Ua | 5.5%-Frn 31/12/2049 | | | 230,113 |
| | Corecivic Inc | 4.75% Due 10-15-2027 | | | 138,400 |
| | Corp Andina De Fomento | 3.95% 15/10/2021 | | | 237,676 |
| | Cr Agricole S A | 3.25% Due 10-04-2024 | | | 466,466 |
| | Cr Suisse | 6.5 Due 08-08-2023 | | | 223,485 |
| | Cr Suisse Group | 3.75% Due 03-26-2025 | | | 264,638 |
| | Credit Agricole S A London Brh | Sr Non-Pftranche # Tr 6 Var Rt Due 04-24-2023 | | | 252,601 |
| | Credit Agricole S A Medium Term | Sr Bk Nts Book Entry 144A Var Rt 07-01-2021 | | | 253,340 |
| | Crosstex Energy | Fixed 5.375% 06-01-2029 | | | 105,280 |
| | Crown Castle Intl | 3.4% Due 02-15-2021 | | | 304,082 |
| | Csc Hldgs Llc | 6.75% Due 11-15-2021 | | | 236,775 |
| | Csc Hldgs Llc | Sr Nt 144A 10.875% Due 10-15-2025/10-09-2015 Beo | | | 462,645 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Cvs Health Corp | 3.7% Due 03-09-2023 | | $ | 625,402 |
| | Cvs Health Corp | 3.875% Due 07-20-2025 | | | 319,532 |
| | Daimler Fin North Amer Llc | Corp Fltg 144A 02-15-2022 | | | 403,085 |
| | Daimler Fin North Amer Llc | Fltg 144A 02-15-2022 | | | 403,085 |
| | Daimler Fin North Amer Llc | Due 02-12-2021 Beo | | | 200,112 |
| | Daimler Fin North Amer Llc | Nt Fltg Due 05-04-2021 Beo | | | 700,916 |
| | Dana Inc | 5.375% Due 11-15-2027 | | | 87,550 |
| | Davita Inc | 5.125% Due 07-15-2024 | | | 307,500 |
| | Dcp Midstream Oper | 5.375% Due 07-15-2025 | | | 104,400 |
| | Dell Intl L L C | 5.3% Due 10-01-2029 | | | 412,698 |
| | Delta Air Lines Inc | Del 2.6% 12-04-2020 Reg | | | 200,588 |
| | Deutsche Bk Ag N Y | 4.25% Due 10-14-2021 | | | 925,670 |
| | Deutsche Bk Ag N Y | Fltg Rt 3.961% Due 11-26-2025 | | | 510,898 |
| | Deutsche Bk Ag N Y Brh | 5.0% 02-14-2022 | | | 313,367 |
| | Deutsche Bk Ag N Y Brh | Fltg 02-04-2021 | | | 200,318 |
| | Dexia Cr Loc | Nt 144A 2.5% Due 01-25-2021Beo | | | 302,020 |
| | Diageo Cap Plc | 3% Due 05-18-2020 | | | 200,813 |
| | Diamond 1 Fin Corp | 4.42% Due 06-15-2021 | | | 514,555 |
| | Diamond 1 Fin Corp | 7.125% Due 06-15-2024 | | | 917,850 |
| | Diebold Nixdorf, Incorporated | (F/K/A Diebold, Incorporated) 08-24-2022 Beo | | | 341,048 |
| | Discover Bk | New 2.45% Due 09-12-2024 | | | 299,464 |
| | Dish Dbs Corp | 5% Due 03-15-2023 | | | 6,155 |
| | Dish Dbs Corp | 5.875% 11-15-2024 | | | 114,450 |
| | Dish Dbs Corp | 7.75% Due 07-01-2026 | | | 615,506 |
| | Dominion Energy Gas Hldgs Llc | Llc Formerly Sr Nt 2018 Ser A Fltg Due 06-15-2021 Reg | | | 100,393 |
| | U.S. Renal Care, Inc | Due 06-12-2026 Beo | | | 217,256 |
| | Duke Energy Corp | 2.65% Due 09-01-2026 | | | 502,435 |
| | Ecopetrol S A | Ecopetrol S A 4.125% Due 01-16-2025 | | | 630,006 |
| | Eldorado Resorts | Eldorado Resorts 7% Due 08-01-2023 | | | 219,440 |
| | Emc Corp | 2.65% Due 06-01-2020 | | | 200,036 |
| | Emera Us Fin Lp | 2.7% Due 06-15-2021 | | | 302,792 |
| | Enbridge Inc | Sr Nt Fltg Rate Due 06-15-2020 Reg | | | 400,664 |
| | Enlink Midstream | 4.15% Due 06-01-2025 | | | 75,200 |
| | Enlink Midstream | 4.85% Due 07-15-2026 | | | 48,750 |
| | Enpro Inds Inc Corp | 5.75% 10-15-2026 | | | 165,075 |
| | Entergy Ark Inc | 3.75% Due 02-15-2021 | | | 304,646 |
| | Entergy Gulf Sts | 3.95% Due 10-01-2020 | | | 302,836 |
| | Euro Galaxy | Clo Bv 16-5A Clo 10/11/2030 | | | 336,864 |
| | Exeter Automobile | 2.9% Due 01-18-2022 | | | 3,988 |
| | Extraction Oil | 5.625% Due 02-01-2026 | | | 6,000 |
| | Fce Bank Plc Mtn | 1.875% 24/06/2021 | | | 344,180 |
| | Firstenergy Corp | 4.25 Due 03-15-2023 | | | 210,863 |
| | Flex Acquisition Co Inc | (Aka Novolex) Tlsr Secd 1St Lien Due 12-29-2023 Beo | | | 89,980 |
| | Ford Mtr Cr Co Llc | 2.459% Due 03-27-2020 | | | 600,185 |
| | Ford Mtr Cr Co Llc | Fixed 3.35% Due 11-01-2022 | | | 237,391 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Ford Mtr Cr Co Llc | Nt Fltg Due 02-15-2023 | | $ | 196,654 |
| | Freeport-Mcmoran | 4.55% Due 11-14-2024 | | | 153,277 |
| | Freeport-Mcmoran | 5.45% Due 03-15-2043 | | | 119,025 |
| | Freeport-Mcmoran Inc | 5.4% Due 11-14-2034/11-14-2014 Reg | | | 193,788 |
| | Gannett Co Inc | 6.375% Due 10-15-2023 | | | 350,200 |
| | Garda World Security Corporation | Term Loan B Due 10-23-2026 | | | 437,449 |
| | Gatx Corp | Fltg 11-05-2021 | | | 301,284 |
| | Gci | 6.625% Due 06-15-2024 | | | 411,350 |
| | Gen Elec Co | 0.375% Snr 17/05/2022 Eur | | | 224,845 |
| | Gen Mtrs Finl Co | Fixed 3.2% Due 07-13-2020 | | | 502,290 |
| | Gen Mtrs Finl Co | 3.55% 07-08-2022 Reg | | | 102,943 |
| | Gen Mtrs Finl Co | 3.55% Due 04-09-2021 Reg | | | 407,579 |
| | Genesis Energy L P | 5.625% Due 06-15-2024 | | | 131,240 |
| | Genesis Energy L P | 6% Due 05-15-2023 | | | 123,750 |
| | Genesis Energy L P | 6.25% Due 05-15-2026 | | | 25,785 |
| | Genesis Energy L P | 6.75% Due 08-01-2022 | | | 133,320 |
| | Geo Group Inc | New 5.875% Due 10-15-2024 | | | 91,000 |
| | Gfl Environmental | 8.5% Due 05-01-2027 | | | 275,000 |
| | Gfl Environmental Inc | Term Loan B 05-09-2025 | | | 235,570 |
| | Global Partners Lp | 7.0% Due06-15-2023 | | | 257,500 |
| | Golden Nugget Inc | 6.75% Due 10-15-2024 | | | 77,625 |
| | Goldman Sachs | 5.75% Due 01-24-2022 | | | 644,109 |
| | Goldman Sachs | Fltg Rt 2.96625% Due 04-23-2020 | | | 801,802 |
| | Goldman Sachs Group Inc | Fltg Rt Due 09-15-2020 | | | 301,922 |
| | Goldman Sachs Group Inc | Nt Fltg 10-31-2022 | | | 302,068 |
| | Goldman Sachs Group Inc | Sr Nt Fltg Var Rt Due 02-23-2023 | | | 201,120 |
| | Goodyear Tire | 5.125% Due 11-15-2023 | | | 132,224 |
| | Graham Hldgs Co | 5.75% Due 06-01-2026 | | | 101,413 |
| | Granite Acquisiton Inc | Term B Loan (First Lien) Due 12-17-2021 Beo | | | 470,582 |
| | Greystar Real | 5.75% 12-01-2025 | | | 134,875 |
| | Griffon Corp | 5.25% Due 03-01-2022 | | | 245,919 |
| | Grinding Media Inc | 7.375% Due 12-15-2023 | | | 173,188 |
| | Gs Mtg Secs | Ser 2014-Gc26 Cl A-Ab 3.365% 3.365% 11-10-2047 | | | 606,009 |
| | Gulfport Energy Corp | 6.0% 10-15-2024 | | | 124,250 |
| | Gulfport Energy Corp | 6.375% 01-15-2026 | | | 58,900 |
| | Harley-Davidson | Fltg Rt 2.52038% Due 03-02-2021 | | | 502,912 |
| | Harley-Davidson | Fltg Rt 0% Due 05-21-2020 | | | 200,214 |
| | Harris Corp Del | Nt Fltg Rate 04-30-2020 | | | 300,164 |
| | Hca Hldgs Inc | 6.25% Due 02-15-2021 | | | 234,563 |
| | Hca Inc | 5.375% Due 09-01-2026 | | | 306,281 |
| | Hca Inc | 5.625% Due 09-01-2028 | | | 490,028 |
| | Hca Inc | 5.875% Due 02-15-2026 | | | 39,800 |
| | Hertz Fleet Lease | 3.23% Due 05-10-2032 | | | 413,198 |
| | Hewlett Packard | Fltg Rt 2.62025% Due 10-05-2021 | | | 300,040 |
| | Hilton Domestic | 5.125% Due 05-01-2026 | | | 674,653 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Hilton Domestic Oper Co Inc | 4.875% Due 01-15-2030 | | $ | 487,326 |
| | Holmes Master Issuer Plc | 2018-1 144A Nt Cl A2 0.0% Due 10-15-2054 | | | 328,357 |
| | Hsbc Hldgs Plc | 4.3% Due 03-08-2026 | | | 326,717 |
| | Hsbc Hldgs Plc | 4.583% 06-19-2029 | | | 223,648 |
| | Hsbc Hldgs Plc | Fltg Rt 3.23888% Due 03-08-2021 | | | 817,638 |
| | Hsbc Hldgs Plc | 3.803% 03-11-2025 | | | 209,961 |
| | Hsbc Hldgs Plc Sr | Sr Nt Fltg Rate 05-18-2021 | | | 200,204 |
| | Hsbc Hldgs Plc Sr | Sr Nt Fltg Rate 05-18-2021 | | | 1,001,018 |
| | Hub International Limited | Term Bank Loan 04-25-2025 | | | 144,077 |
| | Hughes Satellite | 6.625% Due 08-01-2026 | | | 233,100 |
| | Hughes Satellite | 7.625% Due 06-15-2021 | | | 584,442 |
| | Iheartcommunications Inc | 8.375% 05-01-2027 | | | 154,700 |
| | Iho Verwaltungs Gmbh | 144A Pay In Kind 6.375% 05-15-2029 Beo | | | 225,750 |
| | Infor Us Inc | 6.5% Due 05-15-2022 | | | 319,725 |
| | Ing Groep N V | 6.5% Due 12-31-2049 | | | 324,270 |
| | Ingles Mkts Inc | 5.75% Due 06-15-2023 | | | 158,925 |
| | Intelsat Jackson | 8.5% Due 10-15-2024 | | | 141,179 |
| | Intelsat Jackson Hldgs S A | 5.5 Due 08-01-2023 | | | 429,520 |
| | Interpublic Group Cos Inc | 3.5% 10-01-2020 | | | 303,214 |
| | Interpublic Group Cos Inc | 3.75% 10-01-2021 | | | 308,356 |
| | Intl Lease Fin | 8.25% Due 12-15-2020 | | | 105,719 |
| | Intrawest Resorts Holdings, Inc. | Term Loan B1 07-31-2024 | | | 109,260 |
| | Ipalco Enterprises | 3.45% Due 07-15-2020 | | | 301,297 |
| | Iron Mountain Inc | 6% Due 08-15-2023 | | | 194,038 |
| | Iron Mountain Inc Del | 5.75 Due 08-15-2024 | | | 336,746 |
| | J P Morgan Mtg | Tr Fltg Rt 4.133768% Due 06-25-2035 | | | 14,860 |
| | Jagged Peak Energy Llc | Corp Bond 5.875%05-01-2026 | | | 77,436 |
| | Jaguar Hldg Co I Llc | 44791 | | | 214,936 |
| | Jp Morgan Chase Bk | Fltg Rt 2.13413% Due 04-26-2021 | | | 500,264 |
| | Jp Morgan Mtg | 25/08/2036 Usd1000 'Av-5' 08-25-2036 Reg | | | 592,235 |
| | Jpmorgan Chase | 2.55% Due 10-29-2020 | | | 301,365 |
| | Jpmorgan Chase | 3.2% Due 01-25-2023 | | | 309,613 |
| | Jpmorgan Chase & Co | Nt Fltg Rate Due 03-01-2021/02-01-2021 Reg | | | 303,987 |
| | Jyske Realkredit | 1% Snr 01/10/2050 Dkk0.01 | | | 635,078 |
| | Kraft Heinz Foods | 3.375% Due 06-15-2021 | | | 407,121 |
| | Kraft Heinz Foods | 3.95% Due 07-15-2025 | | | 741,233 |
| | L Brands Inc | 6.875% Due 11-01-2035 | | | 201,375 |
| | Ladder Cap Fin | 5.25% Due 03-15-2022 | | | 207,750 |
| | Ladder Cap Fin | 5.875% Due 08-01-2021 | | | 50,688 |
| | Lamar Media Corp | 5 Due 05-01-2023 | | | 101,750 |
| | Las Vegas Sands | 3.2% Due 08-08-2024 | | | 411,842 |
| | Lennar Corp | 4.5% Due 04-30-2024 | | | 148,050 |
| | Lennar Corp | 4.75% Due 04-01-2021 | | | 102,250 |
| | Lennar Corp | 2.95% Due 11-29-2020 | | | 70,175 |
| | Lennar Corp | 4.75% Due 11-29-2027 | | | 129,300 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Lennar Corp | 5% Due 06-15-2027 | | $ | 81,375 |
| | Level 3 Fing Inc | 5.125% Due 05-01-2023 | | | 125,781 |
| | Level 3 Fing Inc | Fixed 5.375% Due 08-15-2022 | | | 143,529 |
| | Lifepoint Hlth Inc | 9.75% Due 12-01-2026 | | | 197,750 |
| | Limited Brands Inc | 5.625% Due 02-15-2022 | | | 42,100 |
| | Lloyds Bkg Group | Fltg Rt 2.907% Due 11-07-2023 | | | 203,015 |
| | Lloyds Bkg Group Plc | Plc Nt Fltg Rate Due 06-21-2021 Reg | | | 703,845 |
| | Lower Cadence Holdings Llc | Term Loan Due 05-22-2026 Beo | | | 78,556 |
| | M/I Homes Inc | Fixed 5.625% 08-01-2025 | | | 94,275 |
| | Magnolia Oil & Gas | 6% Due 08-01-2026 | | | 179,375 |
| | Marriott Intl Inc | New Nt Ser Y Fltg Ratedue 12-01-2020 Reg | | | 300,959 |
| | Marriott Own Resorts Inc | Ilg Llc Sr Nt6.5% 09-15-2026 | | | 566,150 |
| | Matador Res Co | Fixed 5.875% 09-15-2026 | | | 140,350 |
| | Match Group Inc | 6.375% Due 06-01-2024 | | | 225,481 |
| | Mercedes-Benz Auto Lease | Tr Ser 19-A Cl A2 3.01% 02-16-2021 | | | 470,905 |
| | Meredith Corp | Fixed 6.875% 02-01-2026 | | | 327,506 |
| | Mgm Resorts Intl | 6% Due 03-15-2023 | | | 142,675 |
| | Mgm Resorts Intl | 7.75% Due 03-15-2022 | | | 622,025 |
| | Microchip Tech Inc | Fixed 3.922% Due 06-01-2021 | | | 306,804 |
| | Mizuho Finl Gp | Frn Snr 07/2023 Aud250000 | | | 212,606 |
| | Mizuho Finl Group | Sr Nt Fltg Rate 03-05-2023 | | | 200,747 |
| | Molina Healthcare | 4.875% Due 06-15-2025 | | | 319,553 |
| | Molina Healthcare | 5.375% Due 11-15-2022 | | | 143,502 |
| | Mondelez Intl Inc | 3% Due 05-07-2020 | | | 200,574 |
| | Moog Inc | 4.25% Due 12-15-2027 | | | 142,464 |
| | Mpt Oper | 4.625% Due 08-01-2029 | | | 231,750 |
| | Mpt Oper | 6.375% Due 03-01-2024 | | | 207,994 |
| | Murphy Oil Corp | 5.125 12-01-2042 | | | 230,000 |
| | Murphy Oil Corp | 5.75% Due 08-15-2025 | | | 203,960 |
| | Murphy Oil Corp | 5.875% Due 12-01-2027 | | | 225,750 |
| | Murphy Oil Corp | 7.05% Due 05-01-2029 | | | 60,088 |
| | Mylan Inc | Formerly 3.125% Due 01-15-2023 | | | 507,383 |
| | Mylan N V | Fixed 3.75% Due 12-15-2020 | | | 40,798 |
| | Nabors Inds Inc | 5.5% Due 01-15-2023 | | | 211,200 |
| | Nabors Inds Inc | New 5.75% 02-01-2025 | | | 171,000 |
| | Nascar Hldgs Inc | Due 10-19-2026 Beo | | | 100,334 |
| | Nationstar Mtg Llc | 6.5% Due 07-01-2021 | | | 379,948 |
| | Nationwide Bldg | Fltg Rt 4.363% Due 08-01-2024 | | | 424,377 |
| | Navient Corp | 5% Due 10-26-2020 | | | 152,205 |
| | Navient Corp | 6.5% Due 06-15-2022 | | | 108,375 |
| | Navient Corp | 6.75% Due 06-25-2025 | | | 33,120 |
| | Navistar Inc | Term Loan Senior Secured 11-06-2024 Beo | | | 225,920 |
| | Ncr Corp | New 5% Due 07-15-2022 | | | 202,125 |
| | Netflix Inc | 5.5% Due 02-15-2022 | | | 211,750 |
| | Newmark Group Inc | Fixed 6.125% Due 11-15-2023 | | | 192,991 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Nextera Energy Cap | 2.8% Due 01-15-2023 | | $ | 102,229 |
| | Nextera Energy Cap | 3.342% Due 09-01-2020 | | | 201,751 |
| | Nextera Energy Capital Hldgs Inc | Fltg Rt 02-25-2022 | | | 302,509 |
| | Ngl Energy Partners Lp | 7.5% 11-01-2023 | | | 325,000 |
| | Nordea Realkredit | 1% Cvd Bds 01/10/50 Dkk0.01 | | | 605,619 |
| | Novastar Mtg Fdg | Tr Ser 06-1 Cl A1A Fltg 05-25-2036 | | | 129,294 |
| | Nrg Energy Inc | 5.75% 01-15-2028 | | | 75,950 |
| | Nrg Energy Inc | 6.625% Due 01-15-2027 | | | 97,650 |
| | Nrg Energy Inc | 7.25% Due 05-15-2026 | | | 297,160 |
| | Nt Due 10-09-2020 Reg | Nt Due 10-09-2020 Reg | | | 100,149 |
| | Nykredit Realkredi | 1% Snr 01/10/2050 Dkk0.01 | | | 1,768,204 |
| | Oasis Pete Inc | 6.875 Due 03-15-2022 | | | 134,750 |
| | Oasis Pete Inc | New Sr Nt 6.875 Due 01-15-2023 | | | 30,303 |
| | Occidental Pete Corp | Fltg 08-15-2022 | | | 301,603 |
| | Open Text Corp | 5.625% Due 01-15-2023 | | | 234,025 |
| | Oracle Corp | 1.9% Due 09-15-2021 | | | 300,629 |
| | Parsley Energy Llc | 5.625% Due 10-15-2027 | | | 26,438 |
| | Pdc Energy Inc | 5.75% 05-15-2026 | | | 209,475 |
| | Penske Automotive | 5.375% Due 12-01-2024 | | | 22,633 |
| | Penske Automotive | 5.75% Due 10-01-2022 | | | 131,788 |
| | Penske Truck | 3.2% Due 07-15-2020 | | | 301,287 |
| | Petrobras Global Finance | 5.999% 01-27-2028 | | | 422,185 |
| | Petroleos | 6.49% Due 01-23-2027 | | | 212,800 |
| | Phillips 66 Sr | Nt Fltg 02-26-2021 | | | 200,012 |
| | Plains All Amern | 3.6% Due 11-01-2024 | | | 617,540 |
| | Ppn Cmo 4Times Sqr Tr 06-4Ts Cmlmtg | Pasthru Ctf 144A Cl A 5.4 Due 121328 Beo | | | 284,644 |
| | Pride Intl Inc | Del Sr Nt 7.875 Due 08-15-2040 | | | 55,550 |
| | Project Alpha Intermediate Holding Inc | Term Loan 04-26-2024 | | | 140,523 |
| | Project Alpha Intermediate Holding Inc | Tlb First Lien Due 04-19-2024 Beo | | | 98,062 |
| | Prologis L P | 4.25 Due 08-15-2023 | | | 642,601 |
| | Public Svc Enterprise Group Inc | 2.65% 11-15-2022 | | | 304,528 |
| | Pultegroup Inc | 5% Due 01-15-2027 | | | 92,565 |
| | Pvptl Commscope Fin Llc Sr | Nt 144A 6.0% 03-01-2026 | | | 111,694 |
| | Pvptl Daimler Fin North America Llc | Nt Fltg 05-04-2020 Beo | | | 200,131 |
| | Pvptl Fmg Res Aug 2006 Pty Ltd | 4.75% Due 05-12-2017 | | | 92,925 |
| | Pvptl Indigo Nat Res Llc | 6.875% 02-15-2026 | | | 141,000 |
| | Pvptl Lions Gate Cap Hldgs Llc | 5.875% Due 11-01-2024 Beo | | | 110,550 |
| | Pvptl Parkland Fuel Corp | 6.0% 04-01-2026 | | | 179,571 |
| | Pvptl Tesla Inc | 5.3% 8-15-2025 | | | 124,160 |
| | Pvtpl 1011778 B C | New Red Fin Inc 5.0% Due 10-15-2025 | | | 196,175 |
| | Pvtpl 1011778 B C | Unlimited Liability Co 3.875% Due 01-15-2028 | | | 70,175 |
| | Pvtpl 144A Gannett Co Inc | Sr Nt 4.875% Due 09-15-2021/09-08-2014 Beo | | | 20,050 |
| | Pvtpl 144A Nissan Mtr Accep Corp | 2.8% 01-13-2022 Beo | | | 301,963 |
| | Pvtpl Adams Ml Clo Ltd | 14-1A Cl A-1-R 144A Fltg Rt 07-15-2026 | | | 215,739 |
| | Pvtpl Adient Global Hldgs Ltd | Sr Nt 144A4.875% Due 08-15-2026/08-15-2021 Beo | | | 178,500 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Adient Us Llc | Fixed 7% 05-15-2026 | | $ | 136,250 |
| | Pvtpl Advanced Disposal Services Inc | Bnds 5.625% Due 11-15-2024 | | | 234,000 |
| | Pvtpl Ahp Health Partners | 9.75% Due 07-15-2026 Beo | | | 293,366 |
| | Pvtpl Albertsons Cos Inc | Fixed 5.875% 02-15-2028 | | | 318,750 |
| | Pvtpl Albertsons Cos Inc/Safeway Inc | New A Sr Nt 144A 7.5% 03-15-2026 | | | 150,415 |
| | Pvtpl Alcoa Nederland Holding | 6.125% 05-15-2028 | | | 227,325 |
| | Pvtpl Allied Unvl Holdco | 9.75% 07-15-2027 | | | 229,678 |
| | Pvtpl Allied Unvl Holdco Llc | Allied Unv 6.625% 07-15-2026 | | | 222,463 |
| | Pvtpl Altice France S.A. | Sr Secd Nt 144A7.375% Due 05-01-2026/05-01-2021 Beo | | | 642,037 |
| | Pvtpl Amn Healthcare Inc | Sr Nt 4.625% Due 10-01-2027 | | | 190,475 |
| | Pvtpl Antero Midstream Partners | Lp/Antero Mi 5.75% Due 03-01-2027 Beo | | | 109,922 |
| | Pvtpl Archrock Partners L P | Archrock Partner 6.25% Due 04-01-2028 | | | 123,600 |
| | Pvtpl Ard Finance Sa | 6.5% Due 06-30-2027Beo | | | 237,809 |
| | Pvtpl Ascent Resources | Aru Fin 7.0% 11-01-2026 | | | 139,563 |
| | Pvtpl Asgn Inc | 4.625% Due 05-15-2028 | | | 128,485 |
| | Pvtpl Ashtead Cap Inc | 4.25% 11-01-2029 | | | 510,625 |
| | Pvtpl Avantor Inc | 144A 9.0% 10-01-2025 | | | 290,558 |
| | Pvtpl Avis Budget Car Rent Llc | Avis Budget Fin Inc 5.75% 15 07-03-2019 | | | 343,200 |
| | Pvtpl B A T Intl Fin Plc | Gtd Nt 144A 3.95% Due 06-15-2025 Beo | | | 528,948 |
| | Pvtpl B&M Clo | Ser 14-1A Cl A1R Fltg 04-16-2026 | | | 103,348 |
| | Pvtpl Bamll Coml Mtg Secs | Sr 2019-Aht Cl A Fltg 03-15-2034 | | | 701,409 |
| | Pvtpl Bausch Health Cos Inc | 7.0% 01-15-2028 | | | 88,304 |
| | Pvtpl Berry Global Escrow Corp | Fixed 4.875% 07-15-2026 Beo | | | 221,487 |
| | Pvtpl Block Communications Inc | 6.875% 02-15-2025 | | | 332,000 |
| | Pvtpl Blue Racer Mid Llc | Finan 6.125% Due 11-15-2022 | | | 259,700 |
| | Pvtpl Bmw Fin | N V 2.25% 08-12-2022 | | | 301,202 |
| | Pvtpl Boc Aviation Pte Ltd | Fltg Rt 09-26-2023 | | | 1,004,780 |
| | Pvtpl Bombardier Inc | 144A 6% Due 10-15-2022/04-15-2019 Beo | | | 139,958 |
| | Pvtpl Bombardier Inc | 7.5% Due 03-15-2025 | | | 147,467 |
| | Pvtpl Bombardier Inc | 7.875% Due 04-15-2027 | | | 337,430 |
| | Pvtpl Boyd Gaming Corp | Sr Nt 144A 4.75% Due 12-01-2027/12-03-2019 Beo | | | 135,038 |
| | Pvtpl Bpce | Medium Term Sub Nts Book Entry 144A 4.625 Due 07-11-2024 Beo | | | 1,075,965 |
| | Pvtpl Brinker Intl Inc | Sr Nt 144A 5% Due10-01-2024/09-23-2016 Beo | | | 120,555 |
| | Pvtpl Broadcom Inc | Fixed 3.125% Due 04-15-2021 | | | 506,070 |
| | Pvtpl C&W Sr Fing Designated Activity Co | Sr Nt 7.5% 10-15-2026 | | | 216,572 |
| | Pvtpl Calpine Corp | Sr Secd Nt 144A 4.5% Due 02-15-2028 Beo | | | 35,310 |
| | Pvtpl Cameron Lng Llc | 2.902% 07-15-2031 | | | 400,937 |
| | Pvtpl Carlyle Fin Subsidiary Llc | S 3.5% 09-19-2029 | | | 399,020 |
| | Pvtpl Carvana Auto Receivables | Tr 2019-2Nt Cl A-2 2.6% 01-18-2022 Beo | | | 576,884 |
| | Pvtpl Cascades Inc | 5.125% Due 01-15-2026 Beo | | | 179,813 |
| | Pvtpl Catalent Pharma Solutions Inc | 5.0% Due 07-15-2027 | | | 89,038 |
| | Pvtpl Catamaran Clo | Sr 13-1A Cl Ar Fltg Due 01-27-2028 | | | 697,673 |
| | Pvtpl Cco Hldgs Llc | Cco Hldgs Cap Corp 144A 5.125 Due 05-01-23/04-21-15 Beo | | | 153,095 |
| | Pvtpl Cco Hldgs Llc | 4.75% Due 03-01-2030 | | | 356,311 |
| | Pvtpl Cdk Global Inc | 5.25% Due 05-15-2029 | | | 96,525 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Centene Corp | 4.25% 12-15-2027 | | $ | 365,206 |
| | Pvtpl Centene Corp | Del 4.625% Due 12-15-2029 | | | 849,491 |
| | Pvtpl Centene Escrow I Corp | Sr Nt 5.375% 06-01-2026 | | | 644,179 |
| | Pvtpl Centennial Resource Prodtn Llc | 5.375% Due 01-15-2026/11-30-2017 | | | 149,340 |
| | Pvtpl Charles Riv Laboratories Intl Inc | 4.25% Due 05-01-2028 | | | 91,688 |
| | Pvtpl Chesapeake Fdg Ii Llc | 2018-2 Cl A-2 Fltg Rate 08-15-2030 | | | 289,561 |
| | Pvtpl Cifc Fdg | Ser 15-2A Cl Ar Fltg 04-15-2027 | | | 612,110 |
| | Pvtpl Cmo Bamll Coml Mtg Secs | Tr 2019-Rlj Ser 2019-Rlj Cls A Var Rt 04-15-2036 | | | 499,385 |
| | Pvtpl Cmo Cim Trust | Ser 19-Inv1 Cls A2 Fltg Rt 02-25-2049 | | | 418,495 |
| | Pvtpl Cmo Gosforth Funding | 2012-1 Plc Step Up Due 08-25-2060 Beo | | | 462,054 |
| | Pvtpl Cmo Gs Mtg Secs | Tr 2010-C1 Cl A-2 144A 4.592% 08-10-2043 | | | 602,350 |
| | Pvtpl Cmo Gs Mtg Secs | Tr 2010-C2 Var Rt Due 12-10-2043 Beo | | | 102,116 |
| | Pvtpl Cmo Gs Mtg Secs Corp | Tr Ser 2016-Rent Cl B 3.98% 02-10-2029 | | | 101,005 |
| | Pvtpl Cmo Lmrec | Sr 15-Cre1 Cl Ar Fltg 144A 02-22-2032 | | | 47,907 |
| | Pvtpl Cmo Mill City Mtg Ln | Tr 2019-Gs2 Ser 19-Gs2 Cls A1 Var Rt 08-25-2059 | | | 1,070,287 |
| | Pvtpl Cmo New Residential Mtg Ln | Ser 19-Rpl3 Cl A1 Frn 07-25-2059 Beo | | | 294,175 |
| | Pvtpl Cmo New Residential Mtg Ln | Ser 19-Rpl3 Cl A1 Frn 07-25-2059 Beo | | | 686,407 |
| | Pvtpl Cmo Obp Depositor Llc | Tr 2010 Obp Ctf 144A 4.6462 Due 07-15-2045 Beo | | | 499,580 |
| | Pvtpl Cmo Rbssp Resecuritization | Tr 2010-1 Cl 2-A1 144A Var 07-26-2045 Beo | | | 42,066 |
| | Pvtpl Cmo Rbssp Resecuritization | Tr Ser 2009-12 Cl 18A1 Fltg 12-25-2035 | | | 86,339 |
| | Pvtpl Cmo Silverstone Master Issuer | Ser 19-1A Cl 1A Fltg Rt 01-21-2070 | | | 457,665 |
| | Pvtpl Cmo The Bancorp Coml Mtg | Tr Ser 2019-Cre6 Tr Cls A Fltg Due 09-15-2036 | | | 198,896 |
| | Pvtpl Cmo Vmc Fin 2018-Fl2 Llc | Pvtpl Cmo Vmc Fin 2018-Fl2 Llc Sr Secd Nt Cl A Fltg 144A Var Rt Due 10-15-2035 | | | 475,495 |
| | Pvtpl Commscope Fin Llc | Pvtpl Commscope Fin Llc 144A Fixed 8.25%8.25% Due 03-01-2027/02-19-2019 Beo | | | 50,520 |
| | Pvtpl Commscope Inc | Pvtpl Commscope Inc Bnds 5.0% Due 06-15-2021 | | | 21,011 |
| | Pvtpl Commscope Technologies Llc | Pvtpl Commscope Technologies Llc 144A Bnds 5.0% Due 03-15-2027 | | | 7,520 |
| | Pvtpl Consolidated Energy Fin S A | Nt 144A 6.5% Due 05-15-2026/05-07-2018 Beo | | | 145,313 |
| | Pvtpl Constellium N V | 5.75% Due 05-15-2024/05-07-2014 Beo | | | 256,875 |
| | Pvtpl Cott Hldgs Inc | Sr 5.5% Due 04-01-2025 Beo | | | 303,050 |
| | Pvtpl Cps Auto Tr | Tr 2019-A Nt Cl A 3.18% Due 06-15-2022 | | | 591,563 |
| | Pvtpl Credit Accep Corp Mich | Sr Nt 5.125% Due 12-31-2024 | | | 119,423 |
| | Pvtpl Credit Suisse Group Ag | 6.5 Due 08-08-2023 Beo | | | 1,336,500 |
| | Pvtpl Crestwood Midstream Partners | 5.625% 05-01-2027 | | | 162,200 |
| | Pvtpl Crownrock L P/Crownrock Fin Inc | 5.625% 10-15-2025 | | | 306,000 |
| | Pvtpl Csc Hldgs Llc | 7.5% 04-01-2028 | | | 237,300 |
| | Pvtpl Csc Hldgs Llc | Sr Nt 5.75% 01-15-2030 | | | 213,500 |
| | Pvtpl Cumulus Media New Hldgs Inc | 6.75% 07-01-2026 | | | 128,550 |
| | Pvtpl Danske Bk A/S | Medium Term Nts Bookentry Tranche 5.0% 01-12-2022 Reg | | | 210,079 |
| | Pvtpl Darling Ingredients Inc | Formerly Darlin 5.25% 04-15-2027 | | | 244,663 |
| | Pvtpl Dcp Mid Stream Operating | 49982 | | | 99,750 |
| | Pvtpl Dcp Midstream Llc | Defs 6.75 9/15/37 6.75 Due 09-15-2037 Beo | | | 110,250 |
| | Pvtpl Dell Int Llc | Emc Corp Sr Nt 5.875% 06-15-2021 | | | 127,969 |
| | Pvtpl Denali Capital Clo X Ltd | Fltg Rt Ser 13-1A Cl A1Lr Due 10-26-2027 | | | 597,921 |
| | Pvtpl Diamond Sports Gr | Diamon 5.375% 08-15-2026 Beo | | | 435,979 |
| | Pvtpl Diamond Sports Gr | Diamon 6.625% Due 08-15-2027 Beo | | | 344,265 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Eagle Hldg Co Ii Llc | Pay In Kind 7.75%05-15-2022 | | $ | 421,383 |
| | Pvtpl Ecmc Group Stud Ln | Tr 2018-2 Nt Cla Fltg Rate 144A Var Rt Due 09-25-2068 | | | 851,334 |
| | Pvtpl Ecmc Group Student Ln | Pvtpl Ecmc Group Student Ln Sr 2018-1A Cl A Var Rt 2-27-2068 | | | 353,705 |
| | Pvtpl Endeavor Energy Resource | Pvtpl Endeavor Energy Resource 5.5% Due 01-30-2026/12-07-2017 Beo | | | 196,175 |
| | Pvtpl Ensign Drilling Inc | Pvtpl Ensign Drilling Inc 9.25% Due 04-15-2024 | | | 212,344 |
| | Pvtpl Entercom Media Corp | Pvtpl Entercom Media Corp 6.5% 05-01-2027 | | | 160,500 |
| | Pvtpl Enterprise Fleet Fing | Sr18-3 Cl A2 3.38% Due 05-20-2024 Beo | | | 262,680 |
| | Pvtpl Erac Usa Fin Llc | Gtd Nt 144A 4.5% Due 08-16-2021 Beo | | | 311,561 |
| | Pvtpl Esh Hospitality Inc | 144A 5.25% 05-01-2025 | | | 310,125 |
| | Pvtpl Esh Hospitality Inc | 4.625% Due 10-01-2027 | | | 65,813 |
| | Pvtpl Evans Grove Clo Ltd | Ser 18-1A Cl A1 Fltg 05-28-2028 | | | 398,752 |
| | Pvtpl Exeter Automobile Receivables | Ser 19-2A Cl A 2.93% 07-15-2022 | | | 507,993 |
| | Pvtpl Extraction Oil & Gas Inc | 7.375% 05-15-2024 | | | 125,000 |
| | Pvtpl Fidelity & Guaranty Life Hold. Inc | 5.5% Due 05-01-2025 Beo | | | 234,300 |
| | Pvtpl Figueroa Clo Ltd | 2014-1 Cl A-R Fltg 01-15-2027 | | | 154,871 |
| | Pvtpl Financial & Risk Us Hldgs Inc | 6.25% Due 05-15-2026 | | | 223,706 |
| | Pvtpl Flex Acquisition Co Inc | Sr 6.875% Due 01-15-2025 | | | 241,800 |
| | Pvtpl Florida Gas Transmission Co | Sr Nt 144A 5.45% Due 07-15-2020/07-19-2010 Beo | | | 508,406 |
| | Pvtpl Fmg Res August 2006 Pty Ltd | Sr Nt 5.125% 03-15-2023 | | | 179,563 |
| | Pvtpl Forest Labs Inc | Sr Nt 4.875 Due 02-15-2021 Beo | | | 191,425 |
| | Pvtpl Forest Labs Inc | Sr Nt 5 Due 12-15-2021 | | | 104,593 |
| | Pvtpl Frontdoor Inc | 6.75% 08-15-2026 | | | 268,140 |
| | Pvtpl Gcp Applied Technologies Inc | Sr Nt 144A 5.5% 04-15-2026 | | | 126,000 |
| | Pvtpl Gfl Environmental Inc | 5.375% 03-01-2023 | | | 82,400 |
| | Pvtpl Gmf Floorplan Owner Revolving | Tr Ser 2018-1 Cl A Fltg 03-15-2022 | | | 300,044 |
| | Pvtpl Gmf Floorplan Owner Revolving | Tr Ser 2018-2 Cl A1 3.13% 03-15-2023 | | | 303,666 |
| | Pvtpl Gmf Floorplan Owner Revolving | Tr Ser 2018-2 Cl A2 Fltg Rt 03-15-2021 | | | 300,176 |
| | Pvtpl Goeasy Ltd | 5.375% Due 12-01-2024 | | | 112,016 |
| | Pvtpl Golden Credit Card | Ser 2017-4A Cls A Var 144A 07-15-2024 | | | 599,994 |
| | Pvtpl Gracechurch Card Plc | Sr 2018-A1 Cl A Fltg 07-15-2022 | | | 300,032 |
| | Pvtpl Gtcr Ap Fin Inc | 8% Due 05-15-2027 | | | 187,200 |
| | Pvtpl Gw B-Cr Sec Corp | 9.5% Due 11-01-2027 | | | 330,925 |
| | Pvtpl Hertz Corp | 7.125% 08-01-2026 | | | 222,015 |
| | Pvtpl Hill-Rom Hldgs Inc | Fixed 4.375% 09-15-2027 | | | 51,438 |
| | Pvtpl Hologic Inc | 4.375% 10-15-2025 | | | 134,225 |
| | Pvtpl Hulk Fin Corp | 7% Due 06-01-2026 Beo | | | 411,996 |
| | Pvtpl Icg Us Clo | Ser 15-2A Cl Ar Fltg 01-16-2028 | | | 298,915 |
| | Pvtpl Imperial Brands Fin Plc | Gtd Sr Nt 3.125% 07-26-2024 | | | 606,003 |
| | Pvtpl Inmarsat Fin Plc Gtd | Gtd 4.875% 05-15-2022 | | | 202,500 |
| | Pvtpl Iqvia Inc | 5.0% 05-15-2027 | | | 221,092 |
| | Pvtpl Irb Hldg Corp | Sr Nt 144A 6.75% 02-15-2026 | | | 193,788 |
| | Pvtpl Iron Mtn Inc | New 4.875% Due 09-15-2029 Beo | | | 162,528 |
| | Pvtpl Italics Merger Sub Inc | 7.125%07-15-2023 | | | 97,440 |
| | Pvtpl Jackson Natl Life Fdg Llc | Tranche Sr 00412 Fltg 2.73631% 10-15-2020 Reg | | | 200,264 |
| | Pvtpl Jaguar Hldg Co Ii/Pharmaceutical | 6.375% Due 08-01-2023 | | | 335,461 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Jmp Cr Advisors Clo | Ser 14-1Ra Cl A Fltg 01-17-2028 | | $ | 327,613 |
| | Pvtpl Kar Auction Svcs Inc | 5.125% Due 06-01-2025 Beo | | | 239,200 |
| | Pvtpl Labl Escrow Issuer Llc | Fixed 6.75% 07-15-2026 | | | 154,063 |
| | Pvtpl Ladder Cap Fin Hldgs Lllp | 5.25% Due 10-01-2025 Beo | | | 155,625 |
| | Pvtpl Lcpr Sr Secd Fing Designated | Activity Co 6.75 10-15-2027 | | | 222,600 |
| | Pvtpl Leaseplan Corp N V | Medium Term Nts2.875% Due 10-24-2024 | | | 199,932 |
| | Pvtpl Lions Gate Cap Hldgs Llc | Sr Nt 6.375% 02-01-2024 | | | 356,352 |
| | Pvtpl Lithia Motors Inc | 4.625% Due 12-15-2027 | | | 82,229 |
| | Pvtpl Live Nation Entmt In | 4.75% Due 10-15-2027 | | | 300,150 |
| | Pvtpl Loomis Sayles Clo Ii Ltd/Loomis Sayles | Ser 15-2A Cls Air Fltg 04-15-2028 | | | 279,085 |
| | Pvtpl Ltf Merger Sub Inc | Sr Nt 144A 8.5%Due 06-15-2023/06-15-2019 Beo | | | 107,100 |
| | Pvtpl Marriott Ownership Resorts Inc | 4.75% Due 01-15-2028 | | | 194,513 |
| | Pvtpl Mdc Partners Inc | 6.5% Due 05-01-2024 | | | 90,500 |
| | Pvtpl Michaels Stores Inc | Sr Nt 144A 8% Due 07-15-2027/07-15-2022 Beo | | | 168,080 |
| | Pvtpl Midocean Cr Clo Iv | Ser 15-4A Cls Ar Fltg 04-15-2027 | | | 295,661 |
| | Pvtpl Mondelez Intl Hldgs Neth B V | Nt 144A 2% Due 10-28-2021/10-28-2016 Beo | | | 300,035 |
| | Pvtpl Montefiore Med Ctr Ny | Gnma Coll Taxbl Rev Bd 144A Due 05-20-27 | | | 383,845 |
| | Pvtpl Moog Inc | Sr Nt 144A 5.25% Due 12-01-2022/12-01-2019 Beo | | | 202,740 |
| | Pvtpl Mountain View Clo | Ser 14-1A Cl Arr Fltg 10-15-2026 | | | 230,674 |
| | Pvtpl Mountain View Clo | X Ltd Ser 15-10A Cls Ar Fltg 01-13-2027 | | | 448,400 |
| | Pvtpl Mplx Lp | 144A 6.25% 15/10/2022 6.25% Due 10-15-2022/10-15-2019 Beo | | | 189,668 |
| | Pvtpl Msci Inc | T 4.75% 08-01-2026 | | | 51,328 |
| | Pvtpl Navient Private Ed Refi Ln | Tr 2019-Fa Cl A1 2.18% Due 08-15-2068 Beo | | | 377,684 |
| | Pvtpl Navient Pvt Ed Refi Ln | Tr 2018-E Nt Cl A-1 144A 3C7 3.43 Due 12-15-2059 | | | 258,524 |
| | Pvtpl Navient Student Ln | Tr 2016-5 Nt Cla Fltg 144A Var Rt Due 06-25-2065 Beo | | | 802,776 |
| | Pvtpl Navient Student Ln | Tr Sr 2017-3 Cl A-1 Fltg Due 07-26-2066 | | | 8,288 |
| | Pvtpl Navient Student Loan Trust | Sr 18-Ba Cl A1 Fltg Rt 12-15-2059 | | | 56,750 |
| | Pvtpl Navient Student Loan Trust | Sr 17-A Cl A1 Fltg Due 12-16-2058 | | | 3,181 |
| | Pvtpl Ncr Corp | 6.125% Due 09-01-2029 | | | 271,280 |
| | Pvtpl Nelnet Student Ln | Tr Fltg Rt Ser 19-2A Cl A 06-27-2067 Beo | | | 876,104 |
| | Pvtpl Nelnet Student Ln | Tr Ser 17-3A Cl A Fltg 02-25-2066 | | | 542,432 |
| | Pvtpl Neptune Finco Corp | Sr 6.625% Due 10-15-2025/10-09-2015 Beo | | | 212,750 |
| | Pvtpl Netflix Inc | 4.875% Due 06-15-2030/10-25-2019 Beo | | | 172,656 |
| | Pvtpl Neuberger Berman Clo Ltd | Sr Secd Nt Cl A-1-R2 Frns 3C7 04-15-2027 | | | 299,390 |
| | Pvtpl New Enterprise Stone & Lime Co Inc | 6.25% 03-15-2026 | | | 188,550 |
| | Pvtpl Nissan Mtr Accep Corp | Fltg 09-21-2021 Beo | | | 100,069 |
| | Pvtpl Norbord Inc | 5.75% Due 07-15-2027 Beo | | | 124,500 |
| | Pvtpl Nova Chemicals Corp | Sr Nt 144A 5.25% Due 08-01-2023/08-01-2019 Beo | | | 112,342 |
| | Pvtpl Nova Chemicals Corp | Sr Nt 144A 5.25 06-01-2027 | | | 200,363 |
| | Pvtpl Nrg Energy Inc | Fixed 5.25% 06-15-2029 Beo | | | 151,375 |
| | Pvtpl Nva Hldgs Inc | Sr Nt 144A 6.875% Due 04-01-2026/03-20-2018 Beo | | | 297,344 |
| | Pvtpl Nxp B V / Nxp Fdg | Sr Nt 144A 3.875% Due 09-01-2022/08-01-2022 Beo | | | 207,510 |
| | Pvtpl Oasis Pete Inc | New 6.25% Due 05-01-2026 | | | 70,550 |
| | Pvtpl Oci Nv | 6.625% Due 04-15-2023 Beo | | | 469,125 |
| | Pvtpl Ocp Clo 2015-9 Ltd | Ser 15-9A Cl A1R Fltg 07-15-2027 | | | 501,396 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Ocp Clo Ltd | Ser 2015-10A Cl A-1-R Fltg 10-26-2027 | | $ | 699,780 |
| | Pvtpl Oscar Us Fdg Ix Llc | Nt Cl A-2B 144A Var Rt Due 08-10-2021 Beo | | | 97,481 |
| | Pvtpl Oscar Us Fdg Viii Llc | Nt Cl A-2B Fltg 144A 3C7 Var Rt Due 04-12-2021 Beo | | | 26,512 |
| | Pvtpl Ozlme Var Rt | Due 01-18-2030 Beo | | | 280,271 |
| | Pvtpl Palmer Square Ln | Fdg 2018-4A Ltd Cl A-1 Fltg Rt 11-15-2026 | | | 228,036 |
| | Pvtpl Palmer Square Ln | Fltg Rt Ser 19-2A Cl A1 04-20-2027 Beo | | | 533,695 |
| | Pvtpl Palmer Square Ln | Ser 18-3A Cl A1 Fltg 08-15-2026 | | | 342,490 |
| | Pvtpl Palmer Square Ln | Ser 19-4A Cl A1 Fltg 10-24-2027 | | | 550,004 |
| | Pvtpl Park Aerospace Hldgs | 5.25% 08-15-2022 | | | 69,251 |
| | Pvtpl Parkland Fuel Corp | 5.875% Due 07-15-2027 Beo | | | 166,681 |
| | Pvtpl Penarth Master Issuer P L C | Med Term Nt Cl A1 144A Var Rt Due 03-18-2022 | | | 199,992 |
| | Pvtpl Penske Truck Leasing Co L P | Ptl 3.375% 02-01-2022 | | | 306,386 |
| | Pvtpl Pernod Ricard | 5.75% Due 04-07-2021 | | | 209,353 |
| | Pvtpl Pernod Ricard Sa | 4.45 Due 01-15-2022 | | | 156,926 |
| | Pvtpl Pernod Ricard Sa | 4.45 Due 01-15-2022 | | | 313,851 |
| | Pvtpl Pfg Escrow Corp | 10-15-2027/09-27-2019 Beo | | | 203,063 |
| | Pvtpl Polaris Inter Corp | 8.5% 12-01-2022 | | | 103,366 |
| | Pvtpl Post Hldgs Inc | Sr 5.5% Due 03-01-2025 Beo | | | 402,240 |
| | Pvtpl Post Hldgs Inc | Sr Nt 144A 5.5% Due12-15-2029/07-03-2019 Beo | | | 143,951 |
| | Pvtpl Pq Corp | Sr Secd 6.75% Due 11-15-2022/05-04-2016 Beo | | | 351,475 |
| | Pvtpl President & Fellows Harvard Cg | Taxable Bd 2008D 144A 6.5 Due 01-15-2039 | | | 891,025 |
| | Pvtpl Qualitytech Lp | 4.75% 11-15-2025 | | | 45,595 |
| | Pvtpl Quicken Lns Inc | 5.25% 01-15-2028 | | | 231,840 |
| | Pvtpl Quicken Loans Inc | 5.75% Due 05-01-2025 Beo | | | 196,413 |
| | Pvtpl Reckitt Benckiser Treas Svcs Plc | Fltg Due 06-24-2022 | | | 300,675 |
| | Pvtpl Regionalcare Hosp Partners Hldgs Inc | 144A 8.25% Due 05-01-2023/04-29-2016 | | | 243,225 |
| | Pvtpl Rhp Hotel Pptys Lp & Rhp Fin Corp | Sr Nt 4.75% Due 10-15-2027 | | | 170,363 |
| | Pvtpl Rockies Express Pipeline Llc | 6.875% Due 04-15-2040/03-22-2010 | | | 263,120 |
| | Pvtpl Sabre Glbl Inc | 5.25% Due 11-15-2023/11-15-2019 Beo | | | 189,856 |
| | Pvtpl Sabre Glbl Inc | 5.375% Due 04-15-2023/04-15-2019 Beo | | | 30,735 |
| | Pvtpl Scientific Games Intl Inc | 7.25% Due 11-15-2029 | | | 151,900 |
| | Pvtpl Scientific Games Intl Inc | Sr Nt 144A 8.25% 03-15-2026 | | | 159,863 |
| | Pvtpl Sensata Technologies Inc | 4.375% Due 02-15-2030 | | | 66,262 |
| | Pvtpl Sinclair Television Group Inc | 5.5% Due 03-01-2030 Beo | | | 92,025 |
| | Pvtpl Sirius Xm Radio Inc | 5.375% Due 04-15-2025 | | | 282,085 |
| | Pvtpl Sirius Xm Radio Inc | 5.5% Due 07-01-2029 | | | 228,142 |
| | Pvtpl Sirius Xm Radio Inc | Fixed 4.625% 07-15-2024 | | | 220,500 |
| | Pvtpl Slm Stud Ln | Tr 2007-1 Ast Backed Nt Cl A-5A Var Rt Due 01-26-2026 Reg | | | 59,110 |
| | Pvtpl Slm Student Ln | Ser 04-10 Cl A7B Fltg 10-25-2029 | | | 696,301 |
| | Pvtpl Smb Private Ed Ln | Tr Ser 2018-A Ln Cla-1 Fltg Rate 144A 03-16-2026 | | | 30,606 |
| | Pvtpl Smb Private Ed Ln | Tr Sr 18-C Cl A-1 Fltg 09-15-2025 | | | 131,390 |
| | Pvtpl Smbc Aviation Cap Fin Dac Gtd | Sr Nt 144A 2.65% Due 07-15-2021 Beo | | | 302,108 |
| | Pvtpl Sofi Consumer Loan Program | Trust 18-3 A1 3.2% 08-25-2027 | | | 113,931 |
| | Pvtpl Sound Pt Clo X Ltd | Sound Pt Clo X Inc Sr Secd Nt Cl A-1-R 144A 01-20-2028 | | | 599,297 |
| | Pvtpl Sound Pt Clo X Ltd | Sound Pt Clo Xiv Sr Secd Nt Cl A-R Fltg 144A 3C7 Var | | | 499,843 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Speedway Motorsports Llc | Speedway 4.875% 11-01-2027 | | $ | 106,444 |
| | Pvtpl Sprint Nextel Corp | Formerly Sprintcorp Gtd Nt 7 Due 03-01-2020 Beo | | | 301,596 |
| | Pvtpl Ssl Robotics Llc | 9.75% 12-31-2023 | | | 185,963 |
| | Pvtpl Standard Chartered Plc | Nt Fltg Rate 01-20-2023 | | | 201,180 |
| | Pvtpl Stars Group Hldgs B V | Stars Group Us C Sr Nt 7.0% 07-15-2026 | | | 465,475 |
| | Pvtpl Std Inds Inc | Del 4.75% 01-15-2028 | | | 230,625 |
| | Pvtpl Stericycle Inc | Sr Nt 5.375% Due 07-15-2024 | | | 193,200 |
| | Pvtpl Summit Matls Llc | Fixed 6.5% 03-15-2027 | | | 102,125 |
| | Pvtpl Suntory Hldgs Ltd | 2.55% Due 06-28-2022 | | | 301,635 |
| | Pvtpl Talen Energy Supply Llc | 7.25% 05-15-2027 | | | 184,135 |
| | Pvtpl Tallgrass Energy Partners Lp/Tallgrass | Sr 5.5% 09-15-2024 | | | 91,455 |
| | Pvtpl Tegna Inc | 144A 5.0% Due 09-15-2029 Beo | | | 96,663 |
| | Pvtpl Telesat Canada/Telesat Llc | 4.875% Due 06-01-2027 | | | 101,750 |
| | Pvtpl Telesat Cda | 6.5% 10-15-2027 | | | 231,435 |
| | Pvtpl Telos Clo Ltd | Ser 2014-5A Cl A-1-Rfltg Rate 04-17-2028 | | | 268,681 |
| | Pvtpl Tempo Acquisition Llc | Tempo Acquisitio 6.75% 06-01-2025 | | | 289,100 |
| | Pvtpl Tenet Healthcare Corp | 4.875% 01-01-2026 | | | 497,515 |
| | Pvtpl Tenet Healthcare Corp | 5.125% 11-01-2027 | | | 396,094 |
| | Pvtpl Ticp Clo Ii-2 Ltd | Ticp Clo Ii-2 Llc Ser 18-Iia Cl A1 Fltg 04-20-2028 | | | 298,570 |
| | Pvtpl Towd Point Mortgage Trust | Ser 19-Sj3 Cls A1 Var Rt 09-25-2059 | | | 1,075,725 |
| | Pvtpl Towd Pt Mtg | Tr Ser 2019-Hy3 Cl A1A Fltg 12-25-2048 | | | 1,046,328 |
| | Pvtpl Transdigm Inc | 6.25% 03-15-2026 | | | 135,326 |
| | Pvtpl Transdigm Inc | Sr Sub Nt 144A 5.5% Due 11-15-2027/11-13-2019 Beo | | | 202,246 |
| | Pvtpl Transocean Inc | 7.5% Due 01-15-2026 Beo | | | 92,825 |
| | Pvtpl Transocean Inc | Sr Nt 7.25% 11-01-2025 Beo | | | 127,400 |
| | Pvtpl Transocean Poseidon Ltd | Sr Secd Nt6.875% 02-01-2027 | | | 137,800 |
| | Pvtpl Trillium Cr Card Tr Ii | Fltg Ser 2018-1A Cl A 02-27-2023 Beo | | | 500,054 |
| | Pvtpl Trinseo Matls Oper S C A | Trinseo 5.375% Due 09-01-2025 | | | 130,000 |
| | Pvtpl Tronox Finance Plc | Bnds 5.75% 10-01-2025 | | | 28,524 |
| | Pvtpl Tronox Inc | Sr Nt 144A 6.5% 04-15-2026 | | | 216,342 |
| | Pvtpl Ubs Ag London Brh | Sr Nt Fltg Rate Due 06-08-2020 | | | 200,331 |
| | Pvtpl Univision Communications Inc | Sr Secd Nt 144A 5.125% Due 05-15-2023 Beo | | | 224,438 |
| | Pvtpl Univision Communications Inc | Sr Secd Nt 6.75 Due 09-15-2022 | | | 123,830 |
| | Pvtpl Upcb Fin Iv Ltd | Secd 144A 5.375% Due 01-15-2025/01-15-2020 Beo | | | 282,700 |
| | Pvtpl Valeant Pharmaceutical | 5.875 Due 5-15-23 | | | 396,439 |
| | Pvtpl Valeant Pharmaceutical | Sr 6.125% Due 04-15-2025/03-27-2015 | | | 103,323 |
| | Pvtpl Valeant Pharmaceuticals Intl | 8.5% 01-31-2027 | | | 239,148 |
| | Pvtpl Valeant Pharmaceuticals Intl Inc Cda | 6.5% Due 03-15-2022 Beo | | | 470,350 |
| | Pvtpl Valeant Pharmaceuticals Intl Inc Cda | Sr Nt 144A 5.5% Due 03-01-2023 | | | 222,105 |
| | Pvtpl Venture Cdo Ltd | Ser 18-35A Cls As 144A Fltg Rt 10-22-2031 Beo | | | 597,951 |
| | Pvtpl Venture Cdo Ltd | Ser 15-21A Fltg Rate Due 07-15-2027 | | | 383,098 |
| | Pvtpl Venture Cdo Ltd | Sr 14-17A Cl Arr Fltg 04-15-2027 | | | 198,451 |
| | Pvtpl Venture Xii Clo Ltd | Ser 2012-12A Cl A-Rr Fltg 02-28-2026 | | | 512,028 |
| | Pvtpl Venture Xvi Clo Ltd | Ser 14-16A Cl A-Rr Var Rate 01-15-2029 | | | 498,492 |
| | Pvtpl Venture Xxv Clo Ltd | Venture Xxv Clo Ll Sr Secd Nt Cl A-R 144A 3C7 Var Rt | | | 699,682 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Pvtpl Viasat Inc | Sr Nt 144A 5.625% 09-15-2025 | | $ | 376,980 |
| | Pvtpl Vici Pptys | Nt 4.25% Due 12-01-2026 | | | 144,200 |
| | Pvtpl Vici Pptys L P | Vici Nt 4.625% Due 12-01-2029 | | | 213,713 |
| | Pvtpl Viking Cruises Ltd | 5.875% Due 09-15-2027 Beo | | | 130,388 |
| | Pvtpl Vistra Operations Co Llc | 4.3% Due 07-15-2029 | | | 382,571 |
| | Pvtpl Vistra Operations Co Llc | 5.0% 07-31-2027 | | | 289,459 |
| | Pvtpl Vistra Operations Co Llc | 5.5% Due 09-01-2026 Beo | | | 74,200 |
| | Pvtpl Vistra Operations Co Llc | Sr Nt 144A 5.625% 02-15-2027 | | | 126,450 |
| | Pvtpl Vizient Inc | Fixed 6.25% 05-15-2027 Beo | | | 74,900 |
| | Pvtpl Volkswagen Group Amer | Fltg Rate 3.875% Due 11-13-2020 | | | 711,429 |
| | Pvtpl Volkswagen Group Amer Fin Llc | Fltg Rt 11-12-2021 Beo | | | 302,613 |
| | Pvtpl Voya Clo Ltd | Ser 14-3A Cl A1R Fltg Rt 07-25-2026 Due 07-25-2026 Beo | | | 344,192 |
| | Pvtpl Wand Merger Corp | Sr Nt 8.125% 07-15-2023 | | | 190,534 |
| | Pvtpl Wex Inc | 4.75 Due 02-01-2023 | | | 201,500 |
| | Pvtpl Whitehorse X Ltd/Whitehorse X Llc | Sr Secd Nt Cl A-1-R Fltg 04-17-2027 | | | 230,371 |
| | Pvtpl Williams Scotsman Intl Inc | 6.875% Due 08-15-2023 Beo | | | 163,138 |
| | Pvtpl Williams Scotsman Intl Inc | Sr Secd Nt 7.875% 12-15-2022 | | | 163,673 |
| | Pvtpl Xpo Logistics Inc | 6.5% 06-15-2022 | | | 152,850 |
| | Pvtpl Xpo Logistics Inc | 6.75% 144A 08-15-2024 | | | 158,607 |
| | Pvtpl Xpo Logistics Inc | Sr Nt 144A 6.125% Due 09-01-2023/09-01-2019 Beo | | | 397,436 |
| | Pvtpl Z Cap Cr Partners Clo | Ser 15-1A Cl A1R Fltgt Rt 07-16-2027 | | | 99,539 |
| | Pvtpl Zais Clo 1 Ltd | Ser 14-1A Cl A-1A-R Fltg Rt 04-15-2028 | | | 199,177 |
| | Pvtpl Zayo Group Llc/Zayo Cap Inc | Sr 5.75% 01-15-2027 | | | 59,959 |
| | Pvtpl Zekelman Inds Inc | Sr Secd Nt 144A 9.875% Due 06-15-2023/06-15-2019 Beo | | | 42,050 |
| | Pvtpl1 Nielsen Fin Llc | 144A 5 Due 04-15-2022 | | | 466,744 |
| | Pvtpltralee Clo Iii Ltd | Ser 2014-3A Cl A-R Fltg 10-20-2027 | | | 699,613 |
| | Pvtpltriumph Group Inc | 6.25% Due 09-15-2024 | | | 154,534 |
| | Pvtplvolkswagen Group Amer Fin Llc Gtd | Nt Fltg 11-13-2020 | | | 301,209 |
| | Qep Res Inc | 6.875% Due 03-01-2021 | | | 517,500 |
| | Rabobank Nederland | Fltg Rt 2.80663% Due 09-26-2023 | | | 703,317 |
| | Refinitiv Us Holdings Inc. | Fka Initial Dollar Term 10-01-2025 Beo | | | 404,681 |
| | Regency Energy Partners | 5.75 Due 09-01-2020 Reg | | | 304,232 |
| | Regionalcare Hospital Partners, Inc. | Term Loan B Due 11-16-2025 | | | 236,704 |
| | Reynolds Group | 5.75 Due 10-15-2020 | | | 97,032 |
| | Reynolds Group Issuer Inc/ Reynolds | Reynolds Fltg Rt 144A 7-15-2021 | | | 55,069 |
| | Rhp Hotel Pptys Lp | 5% Due 04-15-2023 | | | 153,000 |
| | Ripon Mort. Plc | Frn M/Bkd 08/2056 Gbp 'A2' | | | 387,574 |
| | Rockwell Collins | 2.8% Due 03-15-2022 | | | 203,521 |
| | Royal Bk Cda | Global Medium Term Sr Bk Nt2.25% Due 11-01-2024 | | | 502,122 |
| | Royal Bk Scotland | 3.875% Due 09-12-2023 | | | 209,607 |
| | Royal Bk Scotland | Fltg Rt 3.16175% Due 05-15-2023 | | | 303,305 |
| | Royal Bk Scotland Group Plc | 4.269% Due 03-22-2025 | | | 531,227 |
| | Royal Bk Scotland Group Plc | 4.519% Due 06-25-2024 | | | 318,712 |
| | Royal Bk Scotland Group Plc | Sr Nt Fltg Rate Due 06-25-2024/06-25-2023 Reg | | | 203,032 |
| | Royal Bk Scotland Group Plc | Plc Sr Nt Fltg Rate Due 06-25-2024/06-25-2023 Reg | | | 507,580 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Royal Bk Scotland Grp Plc | Perpetual Sub Fltg Rt Due 12-29-2049 | | $ | 204,376 |
| | Sabine Pass | 5.625% Due 03-01-2025 | | | 563,154 |
| | Sabine Pass Liquefaction Llc | Sr Secd Nt 5.625 Due 02-01-2021 | | | 308,368 |
| | Salesforce Com Inc | 3.25% Bnds 04-11-2023 | | | 312,067 |
| | Santander Uk Group | 3.571% Due 01-10-2023 | | | 204,767 |
| | Santander Uk Group | Fltg Rt 4.796% Due 11-15-2024 | | | 971,947 |
| | Santander Uk Plc | Plc Nt Fltg Due 06-01-2021 Reg | | | 250,861 |
| | Sba Communications | 4% Due 10-01-2022 | | | 259,781 |
| | Sempra Energy | 3.75% Due 11-15-2025 | | | 423,384 |
| | Sempra Energy | Nt Fltg Rate Due 03-15-2021 Reg | | | 100,032 |
| | Sensata | 6.25% Due 02-15-2026 | | | 231,663 |
| | Service Corp Intl | 5.375% Due 05-15-2024 | | | 154,500 |
| | Service Corp Intl | Fixed 5.125% 06-01-2029 | | | 95,625 |
| | Silverstone Master | Frn M/Bkd 01/2070 Gbp'2A' | | | 371,170 |
| | Sinclair T.V | 5.875% Due 03-15-2026 | | | 42,050 |
| | Sl Green Oper | Fltg Rt 2.67175% Due 08-16-2021 | | | 1,000,207 |
| | Slc Student Ln | Tr 2006-1 Asset Backed Ntcl A-5 Fltg Var 03-15-2027 Reg | | | 134,020 |
| | Slm Corp Medium Term | Nts Book Entry Tranche # Tr 00107 7.25% Due 01-25-2022 | | | 440,008 |
| | Slm Student Ln Tr | 2005-4 Cl A-3 Var Rt Due 01-25-2027 | | | 260,724 |
| | Slm Student Ln Tr | 2005-7 Student Ln-Bkd Nt Cl A-4 Var 10-25-2029 Reg | | | 622,932 |
| | Slm Student Ln Tr | Pvtpl Ser 2004-8A Cl A5 Flt Rt Due 04-25-2024 | | | 6,395 |
| | Sm Energy Co | 5.625% Due 06-01-2025 | | | 213,563 |
| | Smbc Aviation Cap | 4.125% Due 07-15-2023 | | | 210,459 |
| | Solarwinds Holdings Inc | Term Ln B Due 02-05-2024 Beo | | | 238,004 |
| | Solenis Intl Lp/Solenis Hldgs 3 Llc | Due 06-26-2025 Beo | | | 214,089 |
| | Southern Pwr Co | Due 12-20-2020/12-20-2019 Beo | | | 200,049 |
| | Spectra Energy Partners Lp | Sr Nt Fltg Due 06-05-2020 Reg | | | 200,352 |
| | Spi Australia Assets Pty Mtn | 3.3% 09/04/2023 | | | 410,932 |
| | Springleaf Fin | 5.375% Due 11-15-2029 | | | 109,599 |
| | Springleaf Fin | 6.125% Due 03-15-2024 | | | 191,625 |
| | Springleaf Fin | 6.875% Due 03-15-2025 | | | 113,750 |
| | Springleaf Fin | 8.25% Due 12-15-2020 | | | 104,925 |
| | Springleaf Fin | 7.75 Due 10-01-2021 | | | 217,250 |
| | Springleaf Finance Corporation | 6.625% 01-15-2028 | | | 124,168 |
| | Sprint Cap Corp | 6.875% Due 11-15-2028 | | | 589,393 |
| | Sprint Corp | 7.125% Due 06-15-2024 | | | 91,694 |
| | Sprint Corporation | 7.25% Due 09-15-2021 | | | 264,375 |
| | Sprint Corporation | 7.875% Due 09-15-2023 | | | 93,783 |
| | Sprint Nextel Corp | 6 Due 11-15-2022 | | | 157,313 |
| | Sprint Nextel Corp | 7% Due 08-15-2020 | | | 127,656 |
| | Src Energy Inc | 6.25% 12-01-2025 | | | 196,463 |
| | Stars Group Holdings B.V. | Term Loan Due 07-10-2025 Beo | | | 569,908 |
| | Starwood Ppty Tr | 5% Due 12-15-2021 | | | 347,563 |
| | Starwood Ppty Tr | Fixed 3.625% Due 02-01-2021 | | | 115,719 |
| | State Str Corp | Var Rate 3.776% 12-03-2024 | | | 105,831 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Steel Dynamics Inc | 5% Due 12-15-2026 | | $ | 40,414 |
| | Steel Dynamics Inc | 5.125% Due 10-01-2021 | | | 65,039 |
| | Steel Dynamics Inc | 5.25% Due 04-15-2023 | | | 43,838 |
| | Steel Dynamics Inc | Fixed 4.125% 09-15-2025 | | | 38,024 |
| | Subn Propane | 5.5% Due 06-01-2024 | | | 66,788 |
| | Subn Propane | 5.875% Due 03-01-2027 | | | 104,000 |
| | Sumitomo Mitsui | 2.934% Due 03-09-2021 | | | 303,238 |
| | Sumitomo Mitsui Banking | Fltg 10-16-2020 Beo | | | 300,522 |
| | Sumitomo Mitsui Banking | Fltg Rt Due 01-17-2020 | | | 300,058 |
| | Sumitomo Mitsui Banking Corp | 2.45% Due 01-16-2020 | | | 500,107 |
| | Sumitomo Mitsui Finl Group Inc | 2.448% Due 09-27-2024 | | | 300,767 |
| | Sumitomo Mitsui Finl Group Inc | Sumibk 2.696% 07-16-2024 Beo | | | 507,188 |
| | Summit Matls Llc | Fin 6.125% 07-15-2023 | | | 195,120 |
| | Summit Midstream Hldgs Llc | Summit Mids 5.75% 04-15-2025 | | | 123,728 |
| | Sunoco Lp | Sunoco 4.875% Due 01-15-2023 | | | 250,517 |
| | Sydney Airport Finance | 144A 5.125 Due 02-22-2021 | | | 412,973 |
| | Synchrony | 3.65% Due 05-24-2021 | | | 255,267 |
| | Syngenta Fin | NV 3.698% Due 04-24-2020 | | | 300,944 |
| | Syngenta Fin | NV 5.182% Due 04-24-2028 | | | 646,703 |
| | Tallgrass Energy | 4.75% Due 10-01-2023 | | | 74,813 |
| | Targa Res Partners | 6.75% Due 03-15-2024 | | | 67,356 |
| | Targa Res Partners | Fixed 5% Due 01-15-2028 | | | 158,100 |
| | Targa Res Partners/Targa Res | Sr Nt 5.875% Due 04-15-2026 Beo | | | 100,938 |
| | Telecom Italia Cap | 6% Due 09-30-2034 | | | 219,863 |
| | Telecom Italia Cap | 6.375% Due 11-15-2033 | | | 138,750 |
| | Teleflex Inc | 4.625% 11-15-2027 | | | 211,962 |
| | Telenet Fin | Lux 5.5% Snr Sec 01/03/2028 Usd | | | 430,600 |
| | Tenneco Inc | 5% Due 07-15-2026 | | | 165,600 |
| | Teva | 2.2% Due 07-21-2021 | | | 188,848 |
| | T-Mobile Usa Inc | 4.75% 02-01-2028 | | | 115,259 |
| | T-Mobile Usa Inc | 6% Due 04-15-2024 | | | 139,388 |
| | T-Mobile Usa Inc | 6.375% Due 03-01-2025 | | | 413,332 |
| | T-Mobile Usa Inc | 6.5 Due 01-15-2024 | | | 61,726 |
| | T-Mobile Usa Inc | 6.5% Due 01-15-2026 | | | 562,910 |
| | Toledo Edison Co | 7.25% Due 05-01-2020 | | | 83,169 |
| | Toll Bros Fin Corp | 3.8% Due 11-01-2029 | | | 114,425 |
| | Toll Bros Fin Corp | 4.35% Due 02-15-2028 | | | 36,488 |
| | Towd Point Mt | 19-13 Frn M/Bkd 07/2045 Gbp'A1' | | | 1,585,962 |
| | Toyota Mtr Cr Corp | Medium Term Nts Book Var 05-17-2022 | | | 200,589 |
| | Toyota Tsusho Corp | 3.625% Snr 13/09/23 Usd1000 | | | 208,903 |
| | Transdigm Inc | 6.5% Due 07-15-2024 | | | 149,546 |
| | Transdigm Inc | Fixed 7.5% 03-15-2027 | | | 289,857 |
| | Transocean Inc | 6.8% Due 03-15-2038 | | | 127,800 |
| | Treehouse Foods | 4.875% Due 03-15-2022 | | | 125,469 |
| | Treehouse Foods | 6% Due 02-15-2024 | | | 108,806 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Triumph Group Inc | Fixed 7.75% Due 08-15-2025 | | $ | 135,551 |
| | Twitter Inc | 3.875% Due 12-15-2027 | | | 372,806 |
| | U S Bk Natl Assn Cincinnati Ohio | Medium Fltg 07-24-2020 | | | 250,239 |
| | Ubs Ag London Brh | Nt Fltg 144A Due 12-01-2020/11-01-2020 Beo | | | 200,510 |
| | Ubs Ag Stamford | 7.625% Due 08-17-2022 | | | 789,117 |
| | Unicredit Spa | Fltg Rt 5.73775% Due 01-14-2022 | | | 366,905 |
| | United Rentals North Amer Inc | 5.5% Due 07-15-2025 | | | 62,344 |
| | United Rentals North Amer Inc | 6.5% Due 12-15-2026 Reg | | | 450,616 |
| | Univision | 5.125% Due 02-15-2025 | | | 247,188 |
| | Univision Communications Inc. | Term Loan Due 03-15-2024 Beo | | | 98,845 |
| | Usa Compression | Fixed 6.875% Due 04-01-2026 | | | 126,000 |
| | Usa Compression Partners Lp Usa | 6.875% Due 09-01-2027 | | | 104,160 |
| | Utd Contl Hldg | Fixed 4.15% Due 04-11-2024 | | | 285,834 |
| | Utd Rentals N Amer | 5.5% Due 05-15-2027 | | | 80,345 |
| | Utd Rentals N Amer | 5.875% Due 09-15-2026 | | | 41,837 |
| | Utd Technologies | 3.1% Due 06-01-2022 | | | 307,812 |
| | Valaris Plc | Fixed 7.75% Due 02-01-2026 | | | 50,846 |
| | Valeant Pharmaceuticals Intl Inc Cda | Gtdsr Secd Nt 144A 7.0% Due 03-15-2024 | | | 322,400 |
| | Verizon | 3.376% Due 02-15-2025 | | | 458,681 |
| | Verscend Holding Corp. | Term Loan 08-27-2025 Beo | | | 98,610 |
| | Vfh Parent Llc | Term Loan 01-03-2026 | | | 160,654 |
| | Vici Pptys 1 Llc | 8% Due 10-15-2023 | | | 265,213 |
| | Virgin Media Secd Fin Plc | 5.5% 05-15-2029 | | | 561,138 |
| | Voc Escrow Ltd | 5% Due 02-15-2028 | | | 29,330 |
| | Volkswagen Group | 4% Due 11-12-2021 | | | 310,285 |
| | Wells Fargo & Co | Fltg Rt 2.00888% Due 12-07-2020 | | | 503,885 |
| | Wells Fargo & Co | Fltg Rt 2.59375% Due 03-04-2021 | | | 202,456 |
| | Wells Fargo & Co | Fltg Due 10-31-2023/10-31-2022 Reg | | | 712,453 |
| | Wells Fargo Bank Natl Association | Fltg Rt 07-23-2021 | | | 250,357 |
| | Wells Fargo Bk N A | Fltg Rt 05-27-2022 | | | 502,147 |
| | Wells Fargo Bk N A San Fran Cal | Fltg 03-25-2020 | | | 250,044 |
| | Wells Fargo Home | Fltg Rt 2.62675% Due 10-25-2034 | | | 49,019 |
| | Wesco Distr Inc | 5.375% Due 06-15-2024 | | | 285,313 |
| | Westinghouse Air Brake Technologies Corp | 4.40% Due 03-15-2024 | | | 106,181 |
| | Westinghouse Air Brake Technologies Corp | 4.7% 09-15-2028 | | | 770,042 |
| | Westlake | 2.84% Due 09-15-2021 | | | 53,900 |
| | Westpac Bkg Corp | Nt Fltg Rate Due 05-15-2020 Reg | | | 200,147 |
| | Wideopenwest Finance, Llc | Term Loan B Due 08-18-2023 Beo | | | 195,344 |
| | William Morris Endeavor Entmt Llc | Term B-1 Ln 05-18-25 | | | 244,286 |
| | Woodside Fin Ltd | Gtd Nt 4.6% Due 05-10-2021/05-10-2011 Beo | | | 102,447 |
| | Wpx Energy Inc | 5.25% Due 10-15-2027 | | | 131,875 |
| | Wpx Energy Inc | Fixed 5.75% 06-01-2026 | | | 170,800 |
| | Wyndham | 4.625% Due 03-01-2030 | | | 125,313 |
| | Wyndham Step Cpn | 5.4% Due 04-01-2024 | | | 63,525 |
| | Wyndham Worldwide Corp | 3.9% Due 03-01-2023 Reg | | | 90,900 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Corporate debt instruments (continued) | | | | |
| | Wyndham Worldwide Corp | 4.5% 04-01-2027 | | $ | 43,400 |
| | Wyndham Worldwide Corp | 5.625 Due �� 03-01-2021 Reg | | | 50,593 |
| | Zayo Group Llc | 6.375% Due 05-15-2025 | | | 223,690 |
| | | | | | |
| | Derivative investments | | | | |
| | HSBC Bank USA, N.A. | HSBC BANK 0% ELN 29/10/2020 USD1 | | | 5,532,544 |
| | JP Morgan Chase Bank, N.A. | CALL SWO USD CHASUS33 P 3MLIBOR / R 1.066% European 317U073U8 10/02/2020 | | | 17,127 |
| | Citibank N.A. | CALL SWO USD CITIUS33 P 3MLIBOR / R 1.5% European 317U934T0 03/10/2020 | | | 1,543 |
| | Deutsche Bank Ag | CALL SWO USD DEUTGB2L P 3MLIBOR / R 1.5% European 317U941T1 03/10/2020 | | | 1,594 |
| | JP Morgan Chase Bank, N.A. | TOTALRTN AUD CHASUS33 18 MAR 2020 AQR11582065 M7AU INDEX | | | 3,541 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/11/2048 EUR P CPTFE / R 1.945% SWU0SC530 | | | 14,606 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/11/2048 EUR P CPTFE / R 1.95% SWU0X8558 | | | 21,120 |
| | Citigroup Global Markets | RPI EUR EUR CPI X-TOB/1.62% LCH_SBSIUS 15/05/2028 SWU0R0008 | | | 9,620 |
| | Citigroup Global Markets | RPI EUR EUR CPI X-TOB/1.946% LCH_SBSIUS 15/03/2048 SWU09MT25 | | | 11,363 |
| | Citigroup Global Markets | RPI EUR FRC CPI X-TOB/1.6175% LCH_SBSIUS15/07/2028 SWU0SS600 | | | 23,800 |
| | Glodman Sachs and Co | IRS ILS 3MTELBO/12M 1.883% GSCMUS33 21/03/2028 SWU00OFD1 | | | 5,701 |
| | Barclays Bank Plc Wholesale | IRS ILS 3MTELBO/12M 1.95% BARCGB5G 20/06/2028 SWU00OIT3 | | | 5,506 |
| | Glodman Sachs and Co | IRS ILS 3MTELBO/12M 1.97125% GSCMUS33 16/02/2028 SWU00OD50 | | | 10,185 |
| | Glodman Sachs and Co | IRS ILS 3MTELBO/12M 1.9975% GSCMUS33 20/06/2028 SWU00OFZ2 | | | 4,216 |
| | HSBC Bank USA, N.A. | IRS ILS 3MTELBO/12M 1.9975% MRMDUS33 20/06/2028 SWU00OFN9 | | | 3,313 |
| | JP Morgan Chase Bank, N.A. | IRS ILS 3MTELBO/12M 2.078% CHASUS33 20/06/2028 SWU00OE75 | | | 5,768 |
| | JP Morgan Chase Bank, N.A. | TOTALRTN EUR/1M CHASUS33 18 MAR 2020 AQR11582113 M7IT INDEX | | | 39,812 |
| | JP Morgan Chase Bank, N.A. | TOTALRTN SGD/1M CHASUS33 18 MAR 2020 AQR11582085 M7SG INDEX | | | 8,198 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/06/2039 GBP P RPI / R 3.6% SWU0SF947 | | | 23,878 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/09/2024 GBP P RPI / R 3.85% SWU0JD561 | | | 38,025 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/11/2024 GBP P RPI / R 3.386% SWU0JD652 | | | 869 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/11/2028 GBP P RPI / R 3.603% SWU0X8517 | | | 973 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 15/12/2028 GBP P RPI / R 3.632% SWU084084 | | | 5,388 |
| | Citigroup Global Markets | RPI GBP UK RPI/3.3575% LCH_SBSIUS 15/04/2035 SWU09FQ31 | | | 43,116 |
| | Citigroup Global Markets | RPI GBP UK RPI/3.47% LCH_SBSIUS 15/09/2032 SWU09TR71 | | | 56,844 |
| | Citigroup Global Markets | RPI GBP UK RPI/3.5% LCH_SBSIUS 15/09/2033 SWU0Z8093 | | | 1,464 |
| | Citigroup Global Markets | RPI GBP UK RPI/3.579% LCH_SBSIUS 15/10/2033 SWU0TY838 | | | 4,629 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 03/14/2021 USD P 1.875% / R CPI SWU0SF418 | | | 561 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 03/18/2021 USD P 1.927% / R CPI SWU086717 | | | 1,193 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 03/20/2020 USD P 1.957% / R CPI SWU0SF244 | | | 6,572 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 05/13/2021 USD P 1.816% / R CPI SWU087004 | | | 223 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 07/25/2021 USD P 1.432% / R CPI SWU0JD801 | | | 3,422 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 08/06/2021 USD P 1.432% / R CPI SWU0ZA536 | | | 3,549 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 09/09/2021 USD P 1.445% / R CPI SWU0FA470 | | | 9,809 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 09/20/2021 USD P 1.592% / R CPI SWU0SH562 | | | 6,800 |
| | Citigroup Global Markets | LCH_RPI SBSIUS33 10/01/2021 USD P 1.487% / R CPI SWU0FC195 | | | 5,340 |
| | Citigroup Global Markets | RPI USD 1.55%/US CPI LCH_SBSIUS 07-26-2021 SWU0C8494 | | | 7,227 |
| | Citigroup Global Markets | RPI USD 1.57%/US CPI BOFAUS6NGFX 11-23-2020 SWU0AN162 | | | 38,019 |
| | Citigroup Global Markets | RPI USD 1.6025%/US CPI LCH_SBSIUS 09-12-2021 SWU0C8486 | | | 6,145 |
| | Citigroup Global Markets | RPI USD 1.6775%/US CPI LCH_SBSIUS 05-24-2021 SWU029980 | | | 25,030 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | Citigroup Global Markets | RPI USD 2.02125%/US CPI LCH_SBSIUS 11-25-2020 SWU0C8452 | | $ | 480 |
| | Citigroup Global Markets | RPI USD 2.0265%/US CPI LCH_SBSIUS 11-23-2020 SWU0C8403 | | | 535 |
| | Citigroup Global Markets | RPI USD US CPI/2.15% LCH_SBSIUS 09-25-2027 SWU0A1962 | | | 3,091 |
| | Citigroup Global Markets | RPI USD US CPI/2.18% LCH_SBSIUS 09-20-2027 SWU0Y4614 | | | 3,804 |
| | Citigroup Global Markets | RPI USD US CPI/2.335% LCH_SBSIUS 02-05-2028 SWU0Y9274 | | | 25,870 |
| | Citigroup Global Markets | RPI USD US CPI/2.3525% LCH_SBSIUS 05-09-2028 SWU080215 | | | 9,097 |
| | Citigroup Global Markets | RPI USD US CPI/2.36% LCH_SBSIUS 05-09-2028 SWU02Y712 | | | 13,888 |
| | Citigroup Global Markets | RPI USD US CPI/2.364% LCH_SBSIUS 05-10-2028 SWU0Z3011 | | | 13,997 |
| | Credit Suisse International | LCH_IRS CSFBUS33 17/03/2031 JPY P 0.25% / R 6MLIBOR SWU00W8H2 | | | 27,568 |
| | Credit Suisse International | LCH_IRS CSFBUS33 20/03/2024 JPY P 6MLIBOR / R 0.1% SWU00PS44 | | | 10,701 |
| | Credit Suisse International | LCH_IRS CSFBUS33 18/03/2030 GBP P 0.75% / R 6MLIBOR SWU00W8Y5 | | | 56,524 |
| | Glodman Sachs and Co | CME_IRS CME_GOLDUS USD P 3M LIBOR/R 2.75% 02/25/2020 SWU00OGP3 | | | 28,113 |
| | Glodman Sachs and Co | CME_IRS CME_GOLDUS USD P 3M LIBOR/R 3.0% 09/20/2020 SWU00PNG2 | | | 46,820 |
| | Citigroup Global Markets | CME_IRS CME_SBSIUS USD P 3M LIBOR/R 2.68% 10/25/2023 SWU00L7Y0 | | | 36,064 |
| | Citigroup Global Markets | CME_IRS SBSIUS33 09/12/2029 USD P 1.75% / R 3MLIBOR SWU00VGI3 | | | 4,295 |
| | Citigroup Global Markets | LCH_IRS LCH_SBSIUS USD P 1.75%/R 3M LIBOR 12/21/2026 SWU00INB9 | | | 2,236 |
| | Citigroup Global Markets | LCH_IRS LCH_SBSIUS USD P 3M LIBOR/R 2.75% 12/19/2023 SWU00PV24 | | | 8,059 |
| | HSBC Bank USA, N.A. | CDS MRMDUS33 03/20/2020 SELL FED REPUBLIC OF BRAZIL SWPC0IGS0 | | | 481 |
| | CSFB | CDS ICE_SBSIUS 20/12/2020 SWPC0GNL1 | | | 384 |
| | JP Morgan Chase Bank, N.A. | CDS CHASUS33 12-20-2023 SWPC0HMU0 | | | 28,795 |
| | Credit Suisse International | CDS / STS CSFPGB2L 09-17-2058 SWPC0CLY4 | | | 3,895 |
| | Goldman Sachs International London | CDS / STS GSILGB2X 01-17-2047 SWPC03Q03 | | | 6,983 |
| | Goldman Sachs International London | CDS / STS GSILGB2X 05-11-2063 SWPC722Y0 | | | 798 |
| | Goldman Sachs International London | CDS / STS GSILGB2X 05-11-2063 SWPC722Y0 | | | 792 |
| | Goldman Sachs International London | CDS / STS GSILGB2X 10-17-2057 SWPC0ATK0 | | | 6,489 |
| | Goldman Sachs & Co | CDS / STS ICE_SBSIUS 06-20-2023 SWPC0GS10 | | | 24,414 |
| | Goldman Sachs & Co | CDS / STS ICE_SBSIUS 12-20-2023 SWPC0HFI5 | | | 18,783 |
| | Glodman Sachs and Co | CDS ICE_GOLDUS 06-20-2023 SWPC0GQG9 | | | 2,799 |
| | CSFB | CDS ICE_SBSIUS 12-20-2023 SWPC0HJ26 | | | 1,331 |
| | Citigroup Global Markets | CDX SBNYUS33 08/17/2061 SELL CMBX.NA.AAA.12 SWPC0HTX7 | | | 136 |
| | Glodman Sachs and Co | ICE_CDS GOLDUS33 12/20/2024 SELL GENERAL ELECTRIC CO 2. SWPC0IIT6 | | | 672 |
| | Glodman Sachs and Co | ICE_CDX GOLDUS33 06/20/2024 SELL CDX.NA.IG.32 SWPC0HY52 | | | 385,771 |
| | Glodman Sachs and Co | ICE_CDX GOLDUS33 12/20/2024 SELL CDX.NA.IG.33 SWPC0IJA6 | | | 762,411 |
| | Goldman Sachs | SYN_SWAP 0.0 20 MAR 2020 SMH0 INDEX FSMIH20_SW | | | 6,259,464 |
| | Brown Brothers Harriman and Co. | FX DEAL TRANSACTED ON 30 DEC, 2019 DKK USD EX.RATE 6.678130 | | | 170 |
| | HSBC Bank USA, N.A. | FX DEAL TRANSACTED ON 30 DEC, 2019 DKK USD EX.RATE 6.675622 | | | 8,404 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 FEB, 2019 USD BRL EX.RATE 0.259949 | | | 5,002 |
| | BNP Paribas Paris | FX DEAL TRANSACTED ON 27 FEB, 2019 USD BRL EX.RATE 0.260905 | | | 46,832 |
| | Banco Santander S.A. New York | FX DEAL TRANSACTED ON 17 OCT, 2019 BRL USD EX.RATE 4.157599 | | | 38,679 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 BRL USD EX.RATE 4.220699 | | | 15,088 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 BRL USD EX.RATE 4.142100 | | | 3,150 |
| | BNP Paribas Paris | FX DEAL TRANSACTED ON 31 DEC, 2019 BRL USD EX.RATE 4.030700 | | | 1,846 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 BRL USD EX.RATE 4.030700 | | | 486 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 BRL USD EX.RATE 4.030700 | | | 214 |
| | State Street Bank and Trust Co. | FX DEAL TRANSACTED ON 31 DEC, 2019 BRL USD EX.RATE 4.030699 | | | 629 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 USD HKD EX.RATE 0.128346 | | $ | 5 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 GBP USD EX.RATE 0.760527 | | | 13,662 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 GBP USD EX.RATE 0.760528 | | | 13,664 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 USD HKD EX.RATE 0.128346 | | | 5 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 PEN USD EX.RATE 3.357500 | | | 217 |
| | Natwest Markets Plc | FX DEAL TRANSACTED ON 27 SEP, 2019 COP USD EX.RATE 3476.200011 | | | 33,095 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 PEN USD EX.RATE 3.320300 | | | 711 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 MXN USD EX.RATE 19.585000 | | | 20,993 |
| | BNP Paribas Paris | FX DEAL TRANSACTED ON 18 DEC, 2019 MXN USD EX.RATE 19.007299 | | | 2,398 |
| | HSBC Bank USA, N.A. | FX DEAL TRANSACTED ON 14 OCT, 2019 RUB USD EX.RATE 65.090795 | | | 2,774 |
| | Goldman Sachs Bank USA | FX DEAL TRANSACTED ON 01 OCT, 2019 MXN USD EX.RATE 20.140500 | | | 8,998 |
| | State Street Bank and Trust Co. | FX DEAL TRANSACTED ON 18 DEC, 2019 BRL USD EX.RATE 4.054450 | | | 2,186 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 EUR USD EX.RATE 0.898150 | | | 846 |
| | BNP Paribas Paris | FX DEAL TRANSACTED ON 11 DEC, 2019 EUR USD EX.RATE 0.898065 | | | 2,251 |
| | Goldman Sachs Bank USA | FX DEAL TRANSACTED ON 05 NOV, 2019 RUB USD EX.RATE 64.110015 | | | 14,854 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 OCT, 2019 CNH USD EX.RATE 7.096200 | | | 1,994 |
| | BNP Paribas Paris | FX DEAL TRANSACTED ON 29 OCT, 2019 CNH USD EX.RATE 7.085531 | | | 5,957 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 AUD USD EX.RATE 1.466063 | | | 84,993 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 GBP USD EX.RATE 0.770601 | | | 21,280 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 AUD USD EX.RATE 1.466065 | | | 84,996 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 GBP USD EX.RATE 0.770600 | | | 21,279 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 AUD USD EX.RATE 1.466526 | | | 55,597 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 SEK USD EX.RATE 9.571646 | | | 385 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 SEK USD EX.RATE 9.571659 | | | 385 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 DKK USD EX.RATE 6.691394 | | | 638 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 DKK USD EX.RATE 6.691402 | | | 638 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 19 NOV, 2019 AUD USD EX.RATE 1.466528 | | | 55,599 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 GBP USD EX.RATE 0.771619 | | | 2,224 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 SEK USD EX.RATE 9.575445 | | | 1,697 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 GBP USD EX.RATE 0.772556 | | | 23,623 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 GBP USD EX.RATE 0.771620 | | | 2,224 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 GBP USD EX.RATE 0.772555 | | | 23,621 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 SEK USD EX.RATE 9.575457 | | | 1,697 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 HKD USD EX.RATE 7.835863 | | | 375 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 HKD USD EX.RATE 7.835872 | | | 375 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 AUD USD EX.RATE 1.462876 | | | 51,370 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 ILS USD EX.RATE 3.446082 | | | 193 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 EUR USD EX.RATE 0.896957 | | | 4,637 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 AUD USD EX.RATE 1.462874 | | | 51,368 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 ILS USD EX.RATE 3.446087 | | | 193 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 AUD USD EX.RATE 1.465545 | | | 8,899 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 EUR USD EX.RATE 0.896956 | | | 4,636 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 SGD USD EX.RATE 1.359757 | | | 2,903 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 AUD USD EX.RATE 1.465544 | | | 8,899 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 NOV, 2019 SGD USD EX.RATE 1.359756 | | | 2,903 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 GBP USD EX.RATE 0.769672 | | $ | 20,163 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 GBP USD EX.RATE 0.769673 | | | 20,165 |
| | Deutsche Bank AG | FX DEAL TRANSACTED ON 21 NOV, 2019 IDR USD EX.RATE 14294.000002 | | | 16,040 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 AUD USD EX.RATE 1.467064 | | | 56,218 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 EUR USD EX.RATE 0.896301 | | | 61 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 AUD USD EX.RATE 1.467066 | | | 56,221 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 21 NOV, 2019 EUR USD EX.RATE 0.896301 | | | 61 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 GBP USD EX.RATE 0.771166 | | | 21,958 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 GBP USD EX.RATE 0.771167 | | | 21,959 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 AUD USD EX.RATE 1.469189 | | | 58,668 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 22 NOV, 2019 AUD USD EX.RATE 1.469187 | | | 58,666 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 ILS USD EX.RATE 3.445108 | | | 163 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 ILS USD EX.RATE 3.445103 | | | 163 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 AUD USD EX.RATE 1.467051 | | | 56,203 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 AUD USD EX.RATE 1.467049 | | | 56,201 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 SGD USD EX.RATE 1.362419 | | | 3,376 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 SGD USD EX.RATE 1.362420 | | | 3,377 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 GBP USD EX.RATE 0.773588 | | | 24,855 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 25 NOV, 2019 GBP USD EX.RATE 0.773587 | | | 24,854 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 DKK USD EX.RATE 6.726809 | | | 213 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 JPY USD EX.RATE 108.206093 | | | 1 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 DKK USD EX.RATE 6.726804 | | | 213 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 NZD USD EX.RATE 1.554654 | | | 38,650 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 JPY USD EX.RATE 108.205958 | | | 1 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 NZD USD EX.RATE 1.554656 | | | 38,651 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 EUR USD EX.RATE 0.900985 | | | 15,558 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 EUR USD EX.RATE 0.900984 | | | 15,556 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 AUD USD EX.RATE 1.470864 | | | 60,594 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 GBP USD EX.RATE 0.774827 | | | 26,329 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 AUD USD EX.RATE 1.470866 | | | 60,596 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 GBP USD EX.RATE 0.774826 | | | 26,328 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 ILS USD EX.RATE 3.443632 | | | 118 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 26 NOV, 2019 ILS USD EX.RATE 3.443636 | | | 118 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 ILS USD EX.RATE 3.441507 | | | 53 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 ILS USD EX.RATE 3.441502 | | | 53 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 AUD USD EX.RATE 1.469107 | | | 58,574 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 AUD USD EX.RATE 1.469109 | | | 58,576 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 GBP USD EX.RATE 0.774586 | | | 26,043 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 27 NOV, 2019 GBP USD EX.RATE 0.774587 | | | 26,044 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 29 NOV, 2019 GBP USD EX.RATE 0.772025 | | | 22,988 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 29 NOV, 2019 GBP USD EX.RATE 0.772026 | | | 22,989 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 GBP USD EX.RATE 0.772445 | | | 23,490 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 GBP USD EX.RATE 0.772446 | | | 23,492 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 ILS USD EX.RATE 3.451858 | | | 369 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 ILS USD EX.RATE 3.451863 | | | 369 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | Citibank N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 AUD USD EX.RATE 1.472698 | | $ | 62,698 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 02 DEC, 2019 AUD USD EX.RATE 1.472696 | | | 62,696 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 ILS USD EX.RATE 3.459211 | | | 95 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 AUD USD EX.RATE 1.458254 | | | 45,987 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 ILS USD EX.RATE 3.458382 | | | 568 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 SEK USD EX.RATE 9.441788 | | | 756 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 ILS USD EX.RATE 3.459215 | | | 95 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 AUD USD EX.RATE 1.458253 | | | 45,985 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 ILS USD EX.RATE 3.458377 | | | 568 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 SEK USD EX.RATE 9.441775 | | | 756 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 CHF USD EX.RATE 0.982948 | | | 2,353 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 JPY USD EX.RATE 108.451417 | | | 6,616 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 SGD USD EX.RATE 1.363542 | | | 217 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 CHF USD EX.RATE 0.982947 | | | 2,353 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 JPY USD EX.RATE 108.451553 | | | 6,619 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 SGD USD EX.RATE 1.363540 | | | 217 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 JPY USD EX.RATE 108.460093 | | | 1,151 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 JPY USD EX.RATE 108.459958 | | | 1,151 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 GBP USD EX.RATE 0.767829 | | | 17,938 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 NZD USD EX.RATE 1.533495 | | | 45,291 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 GBP USD EX.RATE 0.767830 | | | 17,939 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 03 DEC, 2019 NZD USD EX.RATE 1.533493 | | | 45,289 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 AUD USD EX.RATE 1.460541 | | | 48,654 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 AUD USD EX.RATE 1.460539 | | | 48,652 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 GBP USD EX.RATE 0.764711 | | | 14,149 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 GBP USD EX.RATE 0.764710 | | | 14,148 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 ILS USD EX.RATE 3.467180 | | | 834 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 04 DEC, 2019 ILS USD EX.RATE 3.467175 | | | 834 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 GBP USD EX.RATE 0.758426 | | | 6,420 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 GBP USD EX.RATE 0.758427 | | | 6,421 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 SGD USD EX.RATE 1.360661 | | | 3,064 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 SGD USD EX.RATE 1.360662 | | | 3,064 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 AUD USD EX.RATE 1.459016 | | | 46,876 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 05 DEC, 2019 AUD USD EX.RATE 1.459014 | | | 46,874 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 06 DEC, 2019 AUD USD EX.RATE 1.458604 | | | 46,396 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 06 DEC, 2019 AUD USD EX.RATE 1.458603 | | | 46,394 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 06 DEC, 2019 SGD USD EX.RATE 1.358778 | | | 2,728 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 06 DEC, 2019 SGD USD EX.RATE 1.358779 | | | 2,729 |
| | SCBLGB2L | FX DEAL TRANSACTED ON 09 DEC, 2019 TWD USD EX.RATE 30.255000 | | | 4,497 |
| | HSBC Bank USA, N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 KRW USD EX.RATE 1186.200000 | | | 6,290 |
| | Barclays Bank PLC Wholesale | FX DEAL TRANSACTED ON 09 DEC, 2019 KRW USD EX.RATE 1185.600000 | | | 3,947 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 GBP USD EX.RATE 0.758012 | | | 1,507 |
| | Credit Suisse International | FX DEAL TRANSACTED ON 09 DEC, 2019 TWD USD EX.RATE 30.240000 | | | 4,314 |
| | Credit Suisse International | FX DEAL TRANSACTED ON 09 DEC, 2019 TWD USD EX.RATE 30.272000 | | | 1,590 |
| | Credit Suisse International | FX DEAL TRANSACTED ON 09 DEC, 2019 KRW USD EX.RATE 1186.100000 | | | 3,223 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | Citibank N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 USD JPY EX.RATE 0.009273 | | $ | 379 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 GBP USD EX.RATE 0.758011 | | | 1,507 |
| | Credit Suisse International | FX DEAL TRANSACTED ON 09 DEC, 2019 KRW USD EX.RATE 1185.300000 | | | 85 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 EUR USD EX.RATE 0.897014 | | | 22,027 |
| | Credit Suisse International | FX DEAL TRANSACTED ON 09 DEC, 2019 KRW USD EX.RATE 1185.300000 | | | 3,797 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 EUR USD EX.RATE 0.897015 | | | 22,030 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 SGD USD EX.RATE 1.358344 | | | 3,315 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 09 DEC, 2019 USD JPY EX.RATE 0.009273 | | | 379 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 CHF USD EX.RATE 0.978895 | | | 8 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 CHF USD EX.RATE 0.978895 | | | 8 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 DKK USD EX.RATE 6.699055 | | | 441 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 DKK USD EX.RATE 6.699064 | | | 442 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 NZD USD EX.RATE 1.521550 | | | 30,827 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 DKK USD EX.RATE 6.694720 | | | 17 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 SEK USD EX.RATE 9.462416 | | | 25 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 NZD USD EX.RATE 1.521552 | | | 30,828 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 DKK USD EX.RATE 6.694720 | | | 17 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 10 DEC, 2019 SEK USD EX.RATE 9.462416 | | | 25 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 NZD USD EX.RATE 1.512485 | | | 13,389 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 NZD USD EX.RATE 1.512483 | | | 13,388 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 EUR USD EX.RATE 0.892276 | | | 1,574 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 EUR USD EX.RATE 0.892275 | | | 1,574 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 HKD USD EX.RATE 7.798828 | | | 16 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 ILS USD EX.RATE 3.473307 | | | 93 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 HKD USD EX.RATE 7.798818 | | | 16 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 17 DEC, 2019 ILS USD EX.RATE 3.473303 | | | 93 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 DKK USD EX.RATE 6.698101 | | | 600 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 SEK USD EX.RATE 9.365778 | | | 69 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 GBP USD EX.RATE 0.763230 | | | 268 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 GBP USD EX.RATE 0.763229 | | | 268 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 AUD USD EX.RATE 1.445503 | | | 9,730 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 AUD USD EX.RATE 1.445505 | | | 9,730 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 DKK USD EX.RATE 6.698110 | | | 600 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 JPY USD EX.RATE 108.825944 | | | 2,554 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 SEK USD EX.RATE 9.365790 | | | 69 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 20 DEC, 2019 JPY USD EX.RATE 108.826081 | | | 2,554 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 DKK USD EX.RATE 6.696770 | | | 6 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 EUR USD EX.RATE 0.897028 | | | 20,855 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 GBP USD EX.RATE 0.771314 | | | 124 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 EUR USD EX.RATE 0.897029 | | | 20,857 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 GBP USD EX.RATE 0.771316 | | | 124 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 SGD USD EX.RATE 1.355412 | | | 248 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 GBP USD EX.RATE 0.767433 | | | 61,516 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 SGD USD EX.RATE 1.355411 | | | 248 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 CHF USD EX.RATE 0.975077 | | | 13 |
(continued)
MORGAN STANLEY 401(k) PLAN
Plan Number 003, Employer Identification Number 20-8764829
FORM 5500, SCHEDULE H, LINE 4i —
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2019
| | | | | | (e) |
| | (b) | (c) | (d) | | Current |
| (a) | Identity of Issuer | Description of Investment | Cost** | | Value |
| | Derivative investments (continued) | | | | |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 31 DEC, 2019 GBP USD EX.RATE 0.767433 | | $ | 61,512 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 CHF USD EX.RATE 0.975077 | | | 13 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 HKD USD EX.RATE 7.801513 | | | 22 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 DKK USD EX.RATE 6.696770 | | | 6 |
| | JP Morgan Chase Bank, N.A. | FX DEAL TRANSACTED ON 23 DEC, 2019 HKD USD EX.RATE 7.801504 | | | 22 |
| | Citibank N.A. | FX DEAL TRANSACTED ON 31 OCT, 2019 MXN USD EX.RATE 19.666299 | | | 16,181 |
| | Natwest Markets Plc | FX DEAL TRANSACTED ON 10 DEC, 2019 MXN USD EX.RATE 19.616499 | | | 9,798 |
| | | | | | |
| | Repurchase agreements | | | | |
| * | PIMCO | Agreement to repurchase securities W/Citigroup 1.55% From 12-31-2019 To 01-02-2020 | | | 5,800,000 |
| | | | | | |
| | Collective trust funds | | | | |
| * | AQR | Aqr Emerging Equities Collective Investment Fund - Class D 35,188,579 Shares | | | 365,925,289 |
| * | Blackrock | Blackrock Msci Acwi Ex Us Imi Index Nl Und Cl F 17,111,957 Shares | | | 284,607,774 |
| * | Blackrock | Blackrock Emerging Markets Index Nl Fund F 3,282,930 Shares | | | 79,939,334 |
| * | Blackrock | Blackrock Equity Non Lending Class F 28,095,611 Shares | | | 1,521,163,795 |
| * | Blackrock | Blackrock Midcap Equity Index (S&P Midcap 400) Nl Cl F 7,651,644 Shares | | | 266,727,124 |
| * | Blackrock | Blackrock Russell 2000 Index Nl 7,372,763 Shares | | | 244,451,315 |
| * | Blackrock | Blackrock Us Debt Index Non Lendablefund F 11,132,938 Shares | | | 172,371,277 |
| | State Street | Ssga Global Reit 1,193,463 Shares | | | 27,742,057 |
| | State Street | Ssga Target Retirement 2025 Nl Fund 10,854,780 Shares | | | 267,440,076 |
| | State Street | Ssga Target Retirement 2035 Nl Fund 14,438,730 Shares | | | 378,800,089 |
| | State Street | Ssga Target Retirement 2045 Nl Fund 8,769,748 Shares | | | 236,309,625 |
| | State Street | Ssga Target Retirement 2055 Nl Fund 6,090,417 Shares | | | 127,770,862 |
| | State Street | Ssga Target Retirement 2060 Nl Fund 4,286,280 Shares | | | 61,058,056 |
| | State Street | Ssga Us Hi Yield Bd Index Nl Sf Cl A 1,328,100 Shares | | | 26,194,119 |
| | State Street | State Street Retirement 2050 Nl Fund 7,121,698 Shares | | | 189,871,579 |
| | State Street | Invt Fds Tx Exmp Ssga Target Ret 2020 Non-Len Ser Fd Cl A 5,903,230 Shares | | | 155,219,540 |
| | State Street | Invt Fds Tx Exmp Ssga Target Ret 2030 Non-Len Ser Fd Cl A 9,603,830 Shares | | | 288,633,503 |
| | State Street | Invt Fds Tx Exmp Ssga Target Ret 2040 Non-Len Ser Fd Cl A 7,575,527 Shares | | | 237,682,165 |
| | State Street | Invt Fds Tx Exmp Ssga Target Ret Inc Non-Len Ser Fd Cl A 9,038,802 Shares | | | 172,722,469 |
| * | MSIF | Morgan Stanley Investment Management Global Real Estate Class O 12,894,360 Shares | | | 158,600,627 |
| * | Northern Trust | Short Term Investment Fund | | | 392,613,334 |
| * | PIMCO | Pimco Short Term Floating Nav Ii 3,138,218 Shares | | | 31,413,562 |
| | Wellington | Wellington Opportunistic Emerging Markets Debt (Series 1) 5,565,221 Shares | | | 62,608,732 |
| | | | | | |
| | Participant-directed investments at fair value | | | $ | 12,197,615,656 |
| | | | | | |
| * | Various Participants | Participant Loans (secured by account, rates ranging from | | $ | 102,723,614 |
| | | 4.25% to 9.25% with maturity dates ranging from 2020 to 2035) | | | |
* Party-in-interest
** Cost information is not required for Participant-directed investments and therefore is not included.
See Report of Independent Registered Public Accounting Firm
(concluded)
