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)

 

xANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2020

 

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: June 21, 2021   By: /s/ Adam Kudelka  
        (Signature)  
        Name: Adam Kudelka  
        Title: Morgan Stanley Head of Rewards  
             
             
             

 

 

 

 

 

Morgan Stanley
401(k) Plan

 

Employer ID Number: 20-8764829

Plan Number: 003

 

Financial Statements at December 31, 2020 and
2019, and for the Year Ended December 31, 2020,
Supplemental Schedule at December 31, 2020, 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, 2020 and 2019

 

2

Statement of Changes in Net Assets Available for Benefits for the Year Ended

December 31, 2020

 

 3

Notes to Financial Statements at December 31, 2020 and 2019, and for the

Year Ended December 31, 2020

 4–17

 

 
SUPPLEMENTAL SCHEDULE:

 

 

Form 5500, Schedule H, Line 4i — Schedule of Assets (Held at End of Year)  
  at December 31, 2020 18–74

 

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, 2020 and 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, 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, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020, 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, 2020 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.

 

/s/ Crowe LLP

Crowe LLP

 

We have served as the Plan's auditor since 2014.

 

New York, New York

June 18, 2021

 

 

 

 

 

 

MORGAN STANLEY 401(k) PLAN      
       
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS    
AT DECEMBER 31, 2020 AND 2019      

 

         
    2020   2019
ASSETS:        
   Participant-directed investments at fair value   $ 15,328,203,825     $ 12,197,615,656  
                 
   Receivables:                
      Employer contributions     286,107,963       278,065,434  
      Notes receivable from participants     118,114,863       102,723,614  
      Receivables for securities sold and other     263,108,057       133,221,861  
      Receivable from Solium Plan Custodian     —         12,245,057  
         Total Receivables     667,330,883       526,255,966  
                 
            Total Assets     15,995,534,708       12,723,871,622  
                 
                 
LIABILITIES:                
      Participant-directed investments at fair value     30,038,010       16,707,206  
      Payables for securities purchased and other     432,737,634       211,827,128  
                 
            Total Liabilities     462,775,644       228,534,334  
                 
                 
                 
NET ASSETS AVAILABLE FOR BENEFITS   $ 15,532,759,064     $ 12,495,337,288  
                 
                 
See notes to the financial statements.                

 

 

 

 

 

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MORGAN STANLEY 401(k) PLAN    
     
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2020    
     
ADDITIONS:    
Net investment income:    
   Net appreciation in fair value of investments   $ 2,903,679,186  
   Dividends and interest     111,509,663  
      Net investment income     3,015,188,849  
         
         
         
   Employer contributions     286,107,963  
   Participant contributions     523,443,659  
   Rollover contributions     69,220,960  
      Total contributions     878,772,582  
         
         
Interest income on notes receivable from participants     5,248,854  
         
         Total additions     3,899,210,285  
         
         
DEDUCTIONS:        
  Benefits paid to participants     847,063,689  
  Administrative fees     14,724,820  
         
         Total deductions     861,788,509  
         
         
Net increase in net assets available for benefits     3,037,421,776  
         
NET ASSETS AVAILABLE FOR BENEFITS        
   Beginning of year     12,495,337,288  
         
   End of year   $ 15,532,759,064  
         
See notes to the financial statements.        

 

 

 

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Morgan Stanley 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

AT DECEMBER 31, 2020 AND 2019, AND FOR THE YEAR ENDED DECEMBER 31, 2020 

 

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. 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.

 

On October 2, 2020, the Company acquired E*TRADE Financial Corporation. In connection with the acquisition, the Company assumed sponsorship of the E*TRADE 401(k) Plan. Employees of E*TRADE Financial Corporation and its participating affiliates (the “E*TRADE Employees”) are eligible to participate in the E*TRADE 401(k) Plan only and are not eligible to participate in the Plan (see Note 7).

 

The coronavirus disease (“COVID-19”) pandemic and related voluntary and government-imposed social and business restrictions have impacted 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, the development, distribution, and acceptance of effective vaccines, and future actions taken by governmental authorities, central banks and other third parties in response to the pandemic, among other factors.

 

All of the Plan’s investments are held in a trust account (“trust account”) at The Northern Trust Company, N.A. (the “Trustee”).

 

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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.

 

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.

 

Effective January 1, 2020, hourly employees are eligible to participate in the Plan. Eligible participants who terminate employment and are later rehired by a participating company may participate in the Plan immediately upon rehire.

 

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 ($19,500 for 2020). Those participants who have attained at least age 50 by the end of 2020 may elect an additional before-tax or Roth after-tax “Catch-Up Contribution” of 1% to 30% of eligible pay, subject to Code limits ($6,500 for 2020).

 

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 2020, employees who earned less than $260,546.32 during 2019). 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 2020 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 $285,000. The maximum Company Match for 2020 was limited to $11,400. The Company Match is made at the discretion of the Plan Sponsor.

 

The 2020 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 2020 Company Match was $250,708,022, of which $5,664,966 was covered by forfeitures held by the

 

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trust account. The contribution was recorded as Employer contributions receivable at December 31, 2020 and paid in cash by the Company to the Plan in January 2021. 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.

 

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 2020 Fixed Contribution of $16,730,595 was recorded as Employer contributions receivable at December 31, 2020 and paid in cash by the Company in January 2021. 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.

 

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 2020 Citi Pension Transition Contribution of $1,933,140 was recorded as Employer contributions receivable at December 31, 2020 and paid in cash by the Company in January 2021. 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.

 

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 2020 Morgan Stanley Transition Contribution of $22,401,172 was recorded as Employer contributions receivable at December 31, 2020 and paid in cash by the Company in January 2021. 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.

 

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.

 

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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, 2020, the Plan offered four mutual funds, 21 commingled or collective trust funds, one employer stock fund, and 14 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. In 2020, certain participants were entitled to additional rights relating to distributions under the Plan in accordance with the Coronavirus Aid, Relief and Economic Security (CARES) Act.

 

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. Beginning March 7 and ending December 31, 2020, certain eligible employees were permitted to borrow up to $100,000 from the Plan in accordance with the CARES Act. Loans are secured by the balance in the participant’s account and bear 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. Loans become due on termination of employment, except (1) prior to August 1, 2020, in the case of Release, in which case a participant may continue repayments for up to 12 months, or the due

 

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date for the loan, whichever is earlier and (2) for loans that are outstanding on or after August 1, 2020, the principal and interest due thereon shall be repaid over the remaining term of the loan with respect to a terminated participant. Loan repayments due between March 27, 2020 and December 31, 2020 were permitted to be suspended for up to one year in accordance with the CARES Act. Effective June 26, 2020, a participant may have two outstanding loans at a time.

 

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. Between May 15, 2020 and December 31, 2020, certain eligible participants were permitted to withdraw up to $100,000 from their Plan account in accordance with the CARES Act.

 

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 year ended December 31, 2020 generally were paid prior to the year end. Amounts requested in the plan year but paid subsequent to the plan year were not significant.

 

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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 —Net appreciation 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.

 

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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, 2020 and 2019 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, 2020 and 2019 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, 2020 and 2019 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, 2020 and 2019 was not significant and the changes in fair value are accounted for as part of Net appreciation 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

 

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counterparties whose credit rating is A-/A3 or better, unless otherwise approved by the Plan. At December 31, 2020 and 2019, the investment assets held by the Plan included positions in interest rate swaps, credit default swaps, equity swaps, total return swaps, and inflation swaps. These assets were held in Separate Accounts at December 31, 2020 and 2019 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, 2020 and 2019 was not significant and the changes in fair value are accounted for as part of Net appreciation 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, 2020 in the PIMCO Real Return Portfolio Fund, Artisan International Growth Fund, PIMCO Low Duration Fund, Principal Global Real Estate Securities Fund, and AQR International Equity Fund and at December 31, 2019 in the PIMCO Real Return Portfolio 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, 2020 and 2019 in the AQR International Equity Fund. The fair value of these investments at December 31, 2020 and 2019 was not significant and the changes in fair value are accounted for as part of Net appreciation 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 changes in fair value are accounted for as part of Net appreciation 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 40 and 39 investment options, respectively, available in the Plan at December 31, 2020 and 2019, of which one and two, respectively, were managed by Morgan Stanley Investment Management (“MSIM”), and one was an employer stock fund (Morgan Stanley Stock Fund). All party-in-interest investments are in the Morgan Stanley Stock Fund, the funds managed by MSIM, an affiliate of the Plan Sponsor, and funds issued by Northern Trust, Principal, PIMCO, Blackrock, AQR Capital Management, T. Rowe Price, William Blair, Rice Hall James, Artisan Partners, Fidelity Institutional Asset Management, Shenkman, Thompson, Siegel & Walmsley, Wellington Trust Company, N.A., State Street Global Advisors, and Westfield Capital Management Company.

 

Investments in and gain or losses 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:

 

11 -

 

 

 

Investments and receivables held by the Plan    
          At
December 31, 2020
At
December 31, 2019
Year Ended
December 31, 2020
Morgan Stanley common stock         
  Number of shares held                                      31,072,026                 33,678,328 n/a
  Fair value of shares held    $                         2,129,365,942  $        1,721,636,127 n/a
  Net realized gain     n/a n/a  $             99,405,916
  Dividend income      n/a n/a  $             46,446,166
               
Mitsubishi UFJ Financial Group common stock    
  Number of shares held                                                     -                           97,500 n/a
  Fair value of shares held    $                                             -     $                  532,202 n/a
               
Investments in a Registered Investment Company issued by MSIM    
  Fair value of shares held    $                         2,515,284,009  $        1,130,761,764 n/a
  Net realized gain     n/a n/a  $           277,959,751
               
Investments in a Collective Trust Fund issued by MSIM    
  Fair value of shares held    $                                             -    $158,600,627 n/a
  Net realized losses     n/a n/a  $           (27,181,945)
               
Notes receivable from participants         
  Participant loans      $                            118,114,863 $102,723,614 n/a
  Interest income      n/a n/a $5,248,854

 

 

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.

 

12 -

 

The Plan Sponsor has analyzed the tax positions taken by the Plan, and has concluded that at December 31, 2020 and 2019, 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 2017.

 

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, 2020 and 2019, 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, the AQR International Equity Fund, the AQR Emerging Markets Equity Fund and the Westfield Mid Cap Growth Equity Fund. At December 31, 2020, the Plan’s Separate Accounts also consisted of the Principal Global Real Estate Securities 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.

 

13 -

 

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.

 

14 -

 

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 FundsEach 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, 2020 and 2019, the Plan held investments in funds managed by State Street Global Advisors, BlackRock, Inc., Wellington Trust Company, N.A., PIMCO, Northern Trust, and AQR Capital Management. At December 31, 2019, the Plan also held investments in a fund managed by Morgan Stanley Investment 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.

 

15 -

 

 

  Plan's Investment Assets and Liabilities at Fair Value at December 31, 2020
  Quoted Prices in Active Markets for Identical Assets   Significant Other Observable Inputs   Significant Unobservable Inputs    
               
  Level 1   Level 2   Level 3   Total
               
Investment Assets:              
               
Registered Investment Companies           2,598,852,377                  42,121,664                                -             2,640,974,041
               
Separately Managed Accounts              
Corporate equities           4,514,668,096                   2,344,120                                -             4,517,012,216
Cash and cash equivalents                58,028,151                                -                                -                  58,028,151
Government and agency securities              
U.S. Treasury and agency securities              643,841,333                725,554,181                                -             1,369,395,514
Other sovereign government obligations                              -                  32,617,026                                -                  32,617,026
State and municipal securities                              -                   6,917,968                                -                   6,917,968
Total Government and agency securities               643,841,333                765,089,175                                -             1,408,930,508
Corporate debt instruments                              -                278,582,027                                -                278,582,027
Derivative instruments                              -                  26,161,533                                -                  26,161,533
Repurchase agreements                              -                253,200,000                                -                253,200,000
            5,216,537,580             1,325,376,855                                -             6,541,914,435
               
Collective Trust Funds *                       6,145,315,349
               
Participant-directed investments                      15,328,203,825
               
Investment Liabilities:              
Separately Managed Accounts              
Derivative instruments                    808,014                  29,229,996                                -                  30,038,010
Participant-directed investments                    808,014                  29,229,996                                -                  30,038,010
               

 

* 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.

 

 

16 -

 

 

 

    Plan's Investment Assets and Liabilities at Fair Value at December 31, 2019
    Quoted Prices in Active Markets for Identical Assets   Significant Other Observable Inputs   Significant Unobservable Inputs    
                 
    Level 1   Level 2   Level 3   Total
Investment Assets:              
                 
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.

 

7. SuBSEQUENT EVENTS

 

On March 1, 2021, the Company acquired Eaton Vance Corp. In connection with the acquisition, the Company assumed sponsorship of the Eaton Vance Profit Sharing and Savings Plan (the “Eaton Vance Plan”). Employees of Eaton Vance Corp. and its participating affiliates (the “Eaton Vance Employees”) are eligible to participate in the Eaton Vance Plan only and are not eligible to participate in the Plan. It is anticipated that the assets of the E*TRADE 401(k) Plan and the Eaton Vance Plan will merge into the Plan at the end of December 31, 2021. E*TRADE Employees and Eaton Vance Employees will become eligible to participate in the Plan following the plans’ merger.

 

 

17 -

 

 

 

 

 

SUPPLEMENTAL SCHEDULE

 

 

 

 

 

 

 

18 -

 

 

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, 2020      
           (e) 
  (b) (c)  (d)     Current  
(a) Identity of Issuer Description of Investment  Cost**     Value 
  Registered Investment Companies        
* MSIM MSIF Growth Portfolio Fund                2,515,284,009
* Northern Trust Northern Trust Global Sustainability Index Fund                     42,331,859
  Pax Pax Global Environmental Markets Fund                     41,236,509
* PIMCO PIMCO International Bond Fund (Unhedged)                     42,121,664
           
  Corporate equities        
  1St Indl Rlty Tr Inc 21,842 Shares of Common Stock                          920,203
  5Th 3Rd Bancorp 441,844 Shares of Common Stock                     12,181,639
  Aalberts Nv                             14,400 Shares of Common Stock                          642,393
  Aareal Bank Ag 22,060 Shares of Common Stock                          527,684
  Abbvie Inc 122,914 Shares of Common Stock                     13,170,235
  Abcam Ord 28,000 Shares of Common Stock                          593,256
  Abc-Mart Inc 1,800 Shares of Common Stock                          100,073
  Acadia Pharmaceuticals Inc 6,548 Shares of Common Stock                          350,056
  Accenture Plc 18,361 Shares of Common Stock                       4,796,077
  Aci Worldwide Inc 169,752 Shares of Common Stock                       6,523,569
  Acs Actividades Co 12,317 Shares of Common Stock                          409,163
  Adecco Group Ag 44,515 Shares of Common Stock                       2,979,249
  Adevinta Asa 11,843 Shares of Common Stock                          199,183
  Adr 21Vianet Group Inc 21,452 Shares of Common Stock                          744,170
  Adr Alibaba Group Holding Ltd 27,761 Shares of Common Stock                       6,460,818
  Adr Argenx Se 5,700 Shares of Common Stock                       1,676,313
  Adr Ascendis Pharma 69,851 Shares of Common Stock                     11,649,750
  Adr Nice Ltd Sponsored Adr 57,994 Shares of Common Stock                     16,443,619
  Adr Silicon Motion Technology Corp      68,620 Shares of Common Stock                       3,304,053
  Adr Taiwan Semiconductor Manufacturing  39,845 Shares of Common Stock                       4,344,699
  Adr Wns Hldgs Ltd Sponsored Adr 94,252 Shares of Common Stock                       6,790,857
  Advantest Corp 9,800 Shares of Common Stock                          733,730
  Aecom 20,400 Shares of Common Stock                       1,015,512
  Aego 19,334 Shares of Common Stock                            76,528
  Aeon Delight Co.Ltd. 14,400 Shares of Common Stock                          374,627
  Aercap Holdings 46,476 Shares of Common Stock                       2,118,376
  Aerie Pharmaceuticals Inc 109,034 Shares of Common Stock                       1,473,049
  Afterpay Limited 3,027 Shares of Common Stock                          275,623
  Ageas 22,952 Shares of Common Stock                       1,223,854
  Agree Rlty Corp 32,407 Shares of Common Stock                       2,157,658
  Aia Group Ltd 706,400 Shares of Common Stock                       8,654,797
  Air Liquide(L') 48,165 Shares of Common Stock                       7,911,660
  Aisin Seiki Co 13,400 Shares of Common Stock                          401,695
  Akebia Therapeutics Inc 99,021 Shares of Common Stock                          277,259
  Alamo Group Inc 5,907 Shares of Common Stock                          814,871
  Albireo Pharma Inc 14,903 Shares of Common Stock                          559,012
  Alcon Ag 33,054 Shares of Common Stock                       2,180,903
  Alexandria Real Estate Equities Inc 14,865 Shares of Common Stock                       2,649,240
  Alexion Pharmaceuticals Inc 21,300 Shares of Common Stock                       3,327,912
         

 

 (continued)

 

19 -

 

 

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, 2020        
           (e) 
  (b) (c)  (d)     Current  
(a) Identity of Issuer Description of Investment  Cost**     Value 
  Corporate equities (continued)        
  Alfresa Holdings 24,000 Shares of Common Stock                          439,111
  Alleghany Corp Del 4,300 Shares of Common Stock                       2,595,867
  Allied Props Real Trust Units 55,863 Shares of Common Stock                       1,658,789
  Allstate Corp 20,900 Shares of Common Stock                       2,297,537
  Ally Finl Inc 50,200 Shares of Common Stock                       1,790,132
  Alphabet Inc 3,544 Shares of Common Stock                       6,210,146
  Alps Alpine Co Ltd 44,500 Shares of Common Stock                          585,316
  Alten 7,900 Shares of Common Stock                          895,559
  Amazon Com Inc 1,749 Shares of Common Stock                       5,696,371
  Ameren Corp 91,450 Shares of Common Stock                       7,138,587
  American Assets Tr Inc 62,233 Shares of Common Stock                       1,797,289
  American Campus Cmntys Inc 10,644 Shares of Common Stock                          455,244
  American Homes 4 Rent 85,057 Shares of Common Stock                       2,551,710
  American International Group Inc 526,314 Shares of Common Stock                     19,926,248
  American Tower Corp 8,985 Shares of Common Stock                       2,016,773
  Americold Rlty Tr 30,013 Shares of Common Stock                       1,120,385
  Amerisourcebergen Corp 25,825 Shares of Common Stock                       2,524,652
  Ametek Inc 49,270 Shares of Common Stock                       5,958,714
  Amicus Therapeutics Inc 83,595 Shares of Common Stock                       1,930,209
  Amplifon 13,700 Shares of Common Stock                          570,600
  Ampol Ltd 7,995 Shares of Common Stock                          175,333
  Amundi 30,747 Shares of Common Stock                       2,513,049
  Anglo American 93,245 Shares of Common Stock                       3,090,298
  Annaly Cap Mgmt Inc 266,900 Shares of Common Stock                       2,255,305
  Anritsu Corp 31,600 Shares of Common Stock                          705,181
  Anthem Inc 5,200 Shares of Common Stock                       1,669,668
  Antofagasta Ord 8,916 Shares of Common Stock                          175,564
  Aon Plc 32,707 Shares of Common Stock                       6,910,008
  Apartment 33,879 Shares of Common Stock                          178,879
  Apartment Income Reit Corp 33,878 Shares of Common Stock                       1,301,240
  Applied Materials Inc 276,492 Shares of Common Stock                     23,861,260
  Applus Services Sa 52,500 Shares of Common Stock                          579,412
  Aramark 11,600 Shares of Common Stock                          446,368
  Arc Land Sakamoto 29,400 Shares of Common Stock                          487,224
  Arcadis Nv 36,700 Shares of Common Stock                       1,214,212
  Arch Capital Group 89,100 Shares of Common Stock                       3,213,837
  Archrock Inc 157,920 Shares of Common Stock                       1,367,587
  Arena Pharmaceuticals Inc 28,870 Shares of Common Stock                       2,218,082
  Argan 5,600 Shares of Common Stock                          572,817
  Arjo Ab 66,700 Shares of Common Stock                          510,450
  Arkema Sa 1,611 Shares of Common Stock                          184,302
  Armstrong World Inds Inc 46,734 Shares of Common Stock                       3,476,542
  Ascendas R/Est Inv 250,500 Shares of Common Stock                          564,817
  Asm Intl Nv 4,600 Shares of Common Stock                       1,012,818
  Asm Pacific Tech 55,200 Shares of Common Stock                          728,278
         

 

 (continued)

20 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Asml Holding Nv 10,207 Shares of Common Stock                       4,964,913
  Assic Generali Spa 61,427 Shares of Common Stock                       1,071,767
  Assocd Brit Foods Ord 41,051 Shares of Common Stock                       1,270,436
  Atea Asa 59,300 Shares of Common Stock                          839,430
  Atlas Copco Ab 6,808 Shares of Common Stock                          305,312
  Atos Se 33,290 Shares of Common Stock                       3,045,938
  Auckland Intl Npv 105,700 Shares of Common Stock                          576,868
  Aurizon Holdings 104,860 Shares of Common Stock                          315,569
  Ausnet Services 344,461 Shares of Common Stock                          466,485
  Aust & Nz Bank Grp 20,548 Shares of Common Stock                          359,928
  Austria Tech Systemtechnik 27,600 Shares of Common Stock                          881,397
  Avalonbay Cmntys Reit 21,311 Shares of Common Stock                       3,418,924
  Aveva Group 92,789 Shares of Common Stock                       4,061,351
  Avient Corporation 53,459 Shares of Common Stock                       2,153,329
  Aviva Ord 727,349 Shares of Common Stock                       3,233,300
  Axalta Coating Systems Ltd 46,600 Shares of Common Stock                       1,330,430
  Axos Finl Inc 112,886 Shares of Common Stock                       4,236,612
  Azbil Corp 22,200 Shares of Common Stock                       1,212,727
  Azek Co Inc 89,520 Shares of Common Stock                       3,442,044
  Azul Sa Prf 72,300 Shares of Common Stock                          547,031
  B & M European Value Retail Sa Ord 208,268 Shares of Common Stock                       1,469,580
  Bae Systems Ord 164,736 Shares of Common Stock                       1,100,709
  Baker Hughes Co 60,100 Shares of Common Stock                       1,253,085
  Balfour Beatty 152,900 Shares of Common Stock                          564,736
  Baloise Holding Ag 3,440 Shares of Common Stock                          612,931
  Banc Calif Inc 78,719 Shares of Common Stock                       1,157,956
  Banco Actinver Sa Cbfi (Prologis) 155,489 Shares of Common Stock                          348,349
  Banco Santander 267,887 Shares of Common Stock                          831,888
  Bank Of America Corp 281,432 Shares of Common Stock                       8,530,204
  Bank Ozk 65,052 Shares of Common Stock                       2,034,176
  Bankinter Sa 65,200 Shares of Common Stock                          352,927
  Banner Corp 37,265 Shares of Common Stock                       1,736,176
  Bapcor Ltd 176,454 Shares of Common Stock                       1,059,330
  Barclays Plc Ord 358,063 Shares of Common Stock                          717,932
  Bayer Ag 10,000 Shares of Common Stock                          589,201
  Bayerische Motoren Werke A G 28,581 Shares of Common Stock                       2,525,904
  Bbva(Bilb-Viz-Arg) 102,263 Shares of Common Stock                          504,875
  Beazley Plc (Uk) Ord 108,300 Shares of Common Stock                          539,756
  Becton Dickinson & Co 50,995 Shares of Common Stock                     12,759,969
  Becton Dickinson & Co Dep Shs Repstg 38,013 Shares of Common Stock                       2,095,657
  Befimmo Sa 12,135 Shares of Common Stock                          538,974
  Belimo Holding Ag 60 Shares of Common Stock                          521,296
  Bezeq Israel Telcm 518,900 Shares of Common Stock                          516,993
  Bhg Group Ab 27,700 Shares of Common Stock                          603,072
  Bhp Group Limited 45,124 Shares of Common Stock                       1,477,410
         

 

 (continued)

 

 

21 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Bhp Group Plc Ord 92,476 Shares of Common Stock                       2,433,394
  Big Yellow Group (Placing) Ord 33,418 Shares of Common Stock                          501,118
  Bilfinger Se 11,333 Shares of Common Stock                          358,588
  Binggrae 9,154 Shares of Common Stock                          481,169
  Biomarin Pharmaceutical Inc 78,110 Shares of Common Stock                       6,849,466
  Bjs Whsl Club Hldgs Inc 32,159 Shares of Common Stock                       1,198,888
  Black Hills Corp 33,979 Shares of Common Stock                       2,088,010
  Bluescope Steel 111,635 Shares of Common Stock                       1,505,782
  Bnp Paribas 16,698 Shares of Common Stock                          880,671
  Boeing Co 33,640 Shares of Common Stock                       7,200,978
  Boingo Wireless Inc 154,330 Shares of Common Stock                       1,963,078
  Boliden Ak 2,020 Shares of Common Stock                            71,674
  Boston Private Finl Hldgs Inc 228,762 Shares of Common Stock                       1,933,039
  Bouygues 12,872 Shares of Common Stock                          529,972
  Bp Ord 315,528 Shares of Common Stock                       1,098,981
  Bqe Cant Vaudoise 6,080 Shares of Common Stock                          662,372
  Brady Corp 74,346 Shares of Common Stock                       3,926,956
  Brandywine Rlty 20,142 Shares of Common Stock                          239,891
  Brembo Spa 63,100 Shares of Common Stock                          833,825
  Brenntag Se 30,662 Shares of Common Stock                       2,376,294
  Brigham Minerals Inc 103,677 Shares of Common Stock                       1,139,410
  British American Tobacco Ord 12,796 Shares of Common Stock                          473,670
  Britvic Ord 55,702 Shares of Common Stock                          618,272
  Broadstone Net Lease Inc 36,542 Shares of Common Stock                          715,492
  Brother Industries 129,000 Shares of Common Stock                       2,656,342
  Brunello Cucinelli 15,200 Shares of Common Stock                          663,947
  Bstn Pptys Inc 4,738 Shares of Common Stock                          447,883
  Bt Group Ord 1,043,579 Shares of Common Stock                       1,886,573
  Bucher Industries 1,950 Shares of Common Stock                          894,756
  Bunge Ltd 132,903 Shares of Common Stock                       8,715,779
  Buzzi Unicem Spa 14,400 Shares of Common Stock                          343,573
  C&C Group 163,606 Shares of Common Stock                          508,784
  Cactus Inc 30,979 Shares of Common Stock                          807,623
  Cadence Bancorporation 113,149 Shares of Common Stock                       1,857,907
  Cafe De Coral Hldg 218,000 Shares of Common Stock                          469,522
  Cairn Homes Plc Ord 470,935 Shares of Common Stock                          554,316
  Calbee Inc 18,900 Shares of Common Stock                          569,316
  Camden Ppty Tr 10,463 Shares of Common Stock                       1,045,463
  Canadian Pacific R 9,937 Shares of Common Stock                       3,443,865
  Capcom Co Ltd 14,800 Shares of Common Stock                          960,434
  Capitaland Integrated Commercial Trust 651,988 Shares of Common Stock                       1,065,558
  Cardtronics Plc 73,580 Shares of Common Stock                       2,597,374
  Carpenter Technology Corp 50,834 Shares of Common Stock                       1,480,286
  Carrefour Sa 108,884 Shares of Common Stock                       1,869,147
  Carter Inc Formerly Carter Hldgs Inc 23,121 Shares of Common Stock                       2,174,992
         

 

 (continued)

 

22 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Caseys Gen Stores Inc 7,858 Shares of Common Stock                       1,403,596
  Castellum Ab 38,513 Shares of Common Stock                          978,705
  Caterpillar Inc 61,586 Shares of Common Stock                     11,209,884
  Cavco Inds Inc 6,334 Shares of Common Stock                       1,111,300
  Cdk Global Inc 37,000 Shares of Common Stock                       1,917,710
  Cdn Apartment Prop Trust Units 32,558 Shares of Common Stock                       1,277,531
  Celanese Corp 34,590 Shares of Common Stock                       4,494,625
  Cellnex Telecom 5,160 Shares of Common Stock                          310,120
  Centene Corp Del 42,600 Shares of Common Stock                       2,557,278
  Centerpoint Energy Inc 59,000 Shares of Common Stock                       1,276,760
  Century Casinos Inc 182,282 Shares of Common Stock                       1,164,782
  Cerved Group 60,700 Shares of Common Stock                          553,308
  Ceva Inc 108,658 Shares of Common Stock                       4,943,939
  Cf Inds Hldgs Inc 250,403 Shares of Common Stock                       9,693,100
  Challenger Ltd 80,910 Shares of Common Stock                          402,076
  Chart Inds Inc 21,093 Shares of Common Stock                       2,484,544
  Charter Hall Group 39,813 Shares of Common Stock                          451,916
  Ches Utils Corp 16,287 Shares of Common Stock                       1,762,416
  China Int Cap Corp 702,800 Shares of Common Stock                       1,903,416
  Chipotle Mexican Grill Inc 6,205 Shares of Common Stock                       8,604,536
  Choice Hotels Intl Inc 7,289 Shares of Common Stock                          777,955
  Chubb Ltd Ord 140,690 Shares of Common Stock                     21,655,005
  Churchill Downs Inc 9,683 Shares of Common Stock                       1,886,152
  Cie De St-Gobain 59,058 Shares of Common Stock                       2,709,766
  Cisco Systems Inc 313,863 Shares of Common Stock                     14,045,369
  Cit Group Inc 41,100 Shares of Common Stock                       1,475,490
  Citrix Sys Inc 66,480 Shares of Common Stock                       8,649,048
  City Developments Ltd 131,700 Shares of Common Stock                          794,196
  Ck Asset Holdings Ltd 265,000 Shares of Common Stock                       1,360,228
  Ck Hutchison Hldgs 461,500 Shares of Common Stock                       3,219,968
  Cloetta Ab 207,900 Shares of Common Stock                          620,722
  Clp Holdings Ltd 22,500 Shares of Common Stock                          208,058
  Cnh Industrial Nv 13,038 Shares of Common Stock                          164,711
  Cno Finl Group Inc 110,977 Shares of Common Stock                       2,467,019
  Cnp Assurances 17,938 Shares of Common Stock                          289,275
  Cnx Resources Corporation 140,240 Shares of Common Stock                       1,514,592
  Coca Cola Co 133,300 Shares of Common Stock                       7,310,172
  Cognizant Tech Solutions Corp 77,580 Shares of Common Stock                       6,357,681
  Coles Group Ltd 135,395 Shares of Common Stock                       1,895,223
  Collegium Pharmaceutical Inc 80,182 Shares of Common Stock                       1,606,045
  Coloplast 9,929 Shares of Common Stock                       1,517,218
  Comcast Corp 218,092 Shares of Common Stock                     11,428,021
  Compass Group Ord 166,127 Shares of Common Stock                       3,095,201
  Conagra Brands Inc 253,203 Shares of Common Stock                       9,181,141
  Conmed Corp 33,139 Shares of Common Stock                       3,711,568
           
           (continued) 

23 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Conocophillips 187,971 Shares of Common Stock                       7,516,960
  Contact Energy 68,500 Shares of Common Stock                          439,441
  Continental Ag Ord 544 Shares of Common Stock                            80,705
  Cooper Cos Inc 19,460 Shares of Common Stock                       7,070,207
  Coresite Rlty Corp 15,579 Shares of Common Stock                       1,951,737
  Cornerstone Ondemand Inc 34,543 Shares of Common Stock                       1,521,274
  Corteva Inc 56,700 Shares of Common Stock                       2,195,424
  Costar Group Inc 6,460 Shares of Common Stock                       5,970,849
  Cousins Pptys Inc 36,579 Shares of Common Stock                       1,225,397
  Cranswick Ord 12,913 Shares of Common Stock                          621,330
  Credit Agricole Sa 22,163 Shares of Common Stock                          279,853
  Credit Suisse Ag 126,419 Shares of Common Stock                       1,630,382
  Crh Ord 69,943 Shares of Common Stock                       2,911,389
  Csl Ltd 679 Shares of Common Stock                          148,372
  Cubesmart 45,040 Shares of Common Stock                       1,513,794
  Cummins Inc 28,925 Shares of Common Stock                       6,568,868
  Curtiss Wright Corp 26,644 Shares of Common Stock                       3,100,029
  Cvs Health Corp 161,332 Shares of Common Stock                     11,018,976
  Cyrusone Inc 11,841 Shares of Common Stock                          866,169
  D R Horton Inc 58,030 Shares of Common Stock                       3,999,428
  Dah Sing Financial 138,000 Shares of Common Stock                          388,878
  Daiichikosho Co 12,100 Shares of Common Stock                          417,807
  Daikyonishikawa Corporation 70,300 Shares of Common Stock                          567,194
  Daimler Ag Ord 19,312 Shares of Common Stock                       1,365,531
  Daiwa House Inds 11,600 Shares of Common Stock                          344,253
  Daiwa Office Investment Corp 294 Shares of Common Stock                       1,868,023
  Daiwa Securities Living Investment Corp 500 Shares of Common Stock                          463,461
  Danske Bank 14,344 Shares of Common Stock                          237,318
  Darling Ingredients Inc 63,286 Shares of Common Stock                       3,650,336
  Dassault Aviation 120 Shares of Common Stock                          131,703
  Dechra Pharma Ord 17,900 Shares of Common Stock                          844,160
  Deckers Outdoor Corp 10,399 Shares of Common Stock                       2,982,225
  Deere & Co 16,124 Shares of Common Stock                       4,338,162
  Delivery Hero Se 7,231 Shares of Common Stock                       1,123,631
  Descente Ltd 35,700 Shares of Common Stock                          615,833
  Deutsche Boerse Ag 61,617 Shares of Common Stock                     10,498,264
  Deutsche Post Ag 39,508 Shares of Common Stock                       1,957,771
  Deutsche Telekom 338,428 Shares of Common Stock                       6,192,620
  Deutsche Wohnen Se 7,406 Shares of Common Stock                          395,902
  Dexcom Inc 15,220 Shares of Common Stock                       5,627,138
  Dexus Property Group 264,954 Shares of Common Stock                       1,921,847
  Diasorin Spa 4,877 Shares of Common Stock                       1,015,030
  Dic Asset Ag 41,200 Shares of Common Stock                          678,522
  D'Ieteren Nv 7,200 Shares of Common Stock                          597,288
  Direct Line Insurance Plc Ord 360,069 Shares of Common Stock                       1,570,106
         

 

 (continued)

 

24 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Disco Corporation 4,500 Shares of Common Stock                       1,514,601
  Discovery Inc 49,069 Shares of Common Stock                       1,285,117
  Dish Network Corp 63,400 Shares of Common Stock                       2,050,356
  Dollar Tree Inc 26,330 Shares of Common Stock                       2,844,693
  Dometic Group Ab 69,200 Shares of Common Stock                          918,027
  Dsv Panalpina 11,635 Shares of Common Stock                       1,950,801
  Dufry Ag 4,381 Shares of Common Stock                          275,464
  Dupont De Nemours Inc 275,752 Shares of Common Stock                     19,608,725
  Ebay Inc 30,700 Shares of Common Stock                       1,542,675
  Echo Global Logistics Inc 89,532 Shares of Common Stock                       2,401,248
  Edf 123,516 Shares of Common Stock                       1,948,796
  Edison Intl 154,068 Shares of Common Stock                       9,678,552
  Eiffage 8,279 Shares of Common Stock                          800,657
  Elanco Animal Health Inc 417,643 Shares of Common Stock                     13,081,052
  Elecom Co 9,800 Shares of Common Stock                          505,923
  Electrolux Ab 25,331 Shares of Common Stock                          590,205
  Elementis Ord 382,700 Shares of Common Stock                          601,602
  Elior Group 62,226 Shares of Common Stock                          420,274
  Emergent Biosolutions Inc 54,682 Shares of Common Stock                       4,899,507
  Enagas Sa 129,173 Shares of Common Stock                       2,839,362
  Encompass Health Corp 41,812 Shares of Common Stock                       3,457,434
  Endesa Sa 64,219 Shares of Common Stock                       1,756,155
  Eneos Holdings Inc 143,400 Shares of Common Stock                          514,459
  Energias De Portugal Sa 415,230 Shares of Common Stock                       2,619,530
  Entain Plc 103,978 Shares of Common Stock                       1,611,075
  Entergy Corp 64,300 Shares of Common Stock                       6,419,712
  Entra Asa 92,171 Shares of Common Stock                       2,090,600
  Eqt Corp 124,100 Shares of Common Stock                       1,577,311
  Eqty Lifestyle Pptys Inc 17,421 Shares of Common Stock                       1,103,795
  Eqty Resdntl 10,127 Shares of Common Stock                          600,329
  Equinix Inc 1,798 Shares of Common Stock                       1,284,096
  Equitable Hldgs Inc 326,453 Shares of Common Stock                       8,353,932
  Ericsson 285,590 Shares of Common Stock                       3,395,414
  Esco Technologies Inc 17,008 Shares of Common Stock                       1,755,566
  Esr Cayman Limited 87,800 Shares of Common Stock                          314,791
  Essex Ppty Tr 32,779 Shares of Common Stock                       7,782,390
  Essity Ab 19,895 Shares of Common Stock                          640,754
  Etablissementen Colruyt 12,678 Shares of Common Stock                          751,875
  Etsy Inc 46,889 Shares of Common Stock                       8,342,022
  Eurocommercial 29,819 Shares of Common Stock                          561,140
  Euronav 44,200 Shares of Common Stock                          356,934
  Euronet Worldwide Inc 42,768 Shares of Common Stock                       6,197,939
  Euronext 6,100 Shares of Common Stock                          672,849
  Eversource Energy 15,966 Shares of Common Stock                       1,381,219
  Evn Ag 34,900 Shares of Common Stock                          763,510
         

 

 (continued)

 

 

25 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Evolution Gaming 5,677 Shares of Common Stock                          577,063
  Evraz Plc Ord 227,557 Shares of Common Stock                       1,466,955
  Expedia Group Inc 30,870 Shares of Common Stock                       4,087,188
  Extra Space Storage Inc 14,900 Shares of Common Stock                       1,726,314
  Exxon Mobil Corp 201,958 Shares of Common Stock                       8,324,709
  F N B Corp Pa 197,964 Shares of Common Stock                       1,880,658
  Fabege Ab 99,676 Shares of Common Stock                       1,569,925
  Fagron 22,700 Shares of Common Stock                          527,717
  Fate Therapeutics Inc 38,857 Shares of Common Stock                       3,533,267
  Federal Agric Mtg Corp 16,339 Shares of Common Stock                       1,213,171
  Federal Rlty Invt Tr 2,986 Shares of Common Stock                          254,168
  Federal Signal Corp 36,628 Shares of Common Stock                       1,214,951
  Fiat Chrysler Automobiles Nv 19,678 Shares of Common Stock                          352,969
  Fidelity Natl Finl Inc 71,531 Shares of Common Stock                       2,796,147
  Finecobank Spa 59,428 Shares of Common Stock                          974,356
  First Amern Finl Corp 30,991 Shares of Common Stock                       1,600,065
  Firstenergy Corp 28,402 Shares of Common Stock                          869,385
  Fleetcor Technologies Inc 35,170 Shares of Common Stock                       9,595,431
  Flir Sys Inc 30,100 Shares of Common Stock                       1,319,283
  Fluidra Sa 45,410 Shares of Common Stock                       1,164,012
  Forbo Hldgs Ag 370 Shares of Common Stock                          635,398
  Fortescue Metals Grp Ltd 180,648 Shares of Common Stock                       3,266,072
  Fortinet Inc 56,610 Shares of Common Stock                       8,408,283
  Fortune Brands Home & Sec Inc 59,324 Shares of Common Stock                       5,085,253
  Fortune R/Est Inv 342,000 Shares of Common Stock                          325,952
  Fox Corp 267,618 Shares of Common Stock                       7,747,866
  Fp Corp 15,800 Shares of Common Stock                          663,403
  Franklin Covey Co 28,050 Shares of Common Stock                          624,674
  Fresenius Medical Care 35,165 Shares of Common Stock                       2,934,383
  Fresenius Se&Kgaa 8,703 Shares of Common Stock                          402,941
  Fti Consulting Inc 19,403 Shares of Common Stock                       2,167,703
  Fujitsu 18,100 Shares of Common Stock                       2,613,013
  Galaxy Entertainme 16,000 Shares of Common Stock                          124,325
  Gallagher Arthur J & Co 44,140 Shares of Common Stock                       5,460,559
  Gaming & Leisure Pptys Inc 37,644 Shares of Common Stock                       1,596,102
  Gea Group Ag 18,070 Shares of Common Stock                          647,368
  Gecina Sa 8,397 Shares of Common Stock                       1,297,625
  Gen Mtrs Co 112,040 Shares of Common Stock                       4,665,346
  General Electric Co 2,537,776 Shares of Common Stock                     27,407,981
  Genmab 16,360 Shares of Common Stock                       6,623,602
  Genting Sing Ltd 204,300 Shares of Common Stock                          131,393
  Gibraltar Inds Inc 41,742 Shares of Common Stock                       3,002,919
  Gilead Sciences Inc 75,376 Shares of Common Stock                       4,391,406
  Glacier Bancorp Inc 51,623 Shares of Common Stock                       2,375,174
  Glaxosmithkline Ord 61,479 Shares of Common Stock                       1,127,800
         

 

 (continued)

 

 

26 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Glencore Plc Ord 197,470 Shares of Common Stock                          628,941
  Global Blood Therapeutics Inc 40,363 Shares of Common Stock                       1,748,122
  Global Pmts Inc 54,050 Shares of Common Stock                     11,643,451
  Gmo Internet Inc 20,200 Shares of Common Stock                          579,323
  Goldman Sachs Group Inc 19,700 Shares of Common Stock                       5,195,087
  Goodman Group 214,634 Shares of Common Stock                       3,131,919
  Gpt Group 51,414 Shares of Common Stock                          178,531
  Grainger Plc Ord 218,200 Shares of Common Stock                          845,890
  Grand Canyon Ed Inc 9,987 Shares of Common Stock                          929,890
  Great Portland Est Ord 60,708 Shares of Common Stock                          554,339
  Gvs Spa 28,500 Shares of Common Stock                          531,785
  Hancock Whitney Corp 87,669 Shares of Common Stock                       2,982,499
  Hang Lung Properties 269,341 Shares of Common Stock                          710,360
  Hanover Ins Group Inc 19,822 Shares of Common Stock                       2,317,588
  Hansol Chemical Co 6,340 Shares of Common Stock                       1,146,838
  Healthcare Rlty Tr 105,196 Shares of Common Stock                       3,113,802
  Healthcare Tr Amer Inc 74,358 Shares of Common Stock                       2,047,819
  Helen Troy Ltd  12,607 Shares of Common Stock                       2,801,149
  Hermes Intl 221 Shares of Common Stock                          237,848
  Hexpol Npv 57,700 Shares of Common Stock                          618,273
  Highwoods Pptys Inc 50,875 Shares of Common Stock                       2,016,176
  Hikma Pharmaceutic Ord 14,964 Shares of Common Stock                          515,058
  Hill & Smith Ord 30,800 Shares of Common Stock                          593,639
  Hiscox Ord 45,100 Shares of Common Stock                          612,796
  Hitachi 15,400 Shares of Common Stock                          606,334
  Hochtief Ag 14,512 Shares of Common Stock                       1,412,502
  Hollyfrontier Corp 108,588 Shares of Common Stock                       2,807,000
  Hologic Inc 131,984 Shares of Common Stock                       9,612,395
  Home Bancshares Inc 134,319 Shares of Common Stock                       2,616,534
  Honda Motor Co 27,600 Shares of Common Stock                          769,229
  Hong Kong Exchanges & Clear 19,000 Shares of Common Stock                       1,041,418
  Horace Mann Educators Corp 48,157 Shares of Common Stock                       2,024,520
  Hoya Corp 21,392 Shares of Common Stock                       2,956,694
  Hubspot Inc 12,910 Shares of Common Stock                       5,118,040
  Hugel Inc 4,500 Shares of Common Stock                          777,962
  Huntington Ingalls Inds Inc 8,200 Shares of Common Stock                       1,397,936
  Husqvarna Ab 134,359 Shares of Common Stock                       1,742,362
  Hysan Development 147,000 Shares of Common Stock                          539,364
  Iaa Spinco Inc 55,681 Shares of Common Stock                       3,618,151
  Iac/Interactivecorp 10,200 Shares of Common Stock                       1,931,370
  Ibiden Co Ltd 25,600 Shares of Common Stock                       1,193,898
  Ibstock Plc Ord 180,300 Shares of Common Stock                          509,189
  Ica Gruppen Ab 3,401 Shares of Common Stock                          170,163
  Icon Plc 30,690 Shares of Common Stock                       5,983,936
  Idacorp Inc 19,948 Shares of Common Stock                       1,915,606
         

 

 (continued)

 

 

27 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Idex Corp 22,530 Shares of Common Stock                       4,487,976
  Idexx Labs Inc 21,470 Shares of Common Stock                     10,732,209
  Idorsia Ltd 63,015 Shares of Common Stock                       1,819,269
  Igo Ltd 227,887 Shares of Common Stock                       1,121,917
  Iida Group Ltd 5,700 Shares of Common Stock                          115,054
  Iliad Sa 568 Shares of Common Stock                          116,826
  Ill Tool Wks Inc 33,987 Shares of Common Stock                       6,929,270
  Inchcape Ord 79,832 Shares of Common Stock                          702,228
  Incitec Pivot 242,381 Shares of Common Stock                          426,436
  Industrial & Infra Reit 794 Shares of Common Stock                       1,465,030
  Indutrade Ab 46,500 Shares of Common Stock                          997,656
  Informa Plc (Gb) Ord  73,931 Shares of Common Stock                          554,819
  Ing Groep N.V. 81,029 Shares of Common Stock                          757,552
  Ingevity Corp 61,313 Shares of Common Stock                       4,643,233
  Ingredion Inc 11,700 Shares of Common Stock                          920,439
  Inm Colonial Socim 125,578 Shares of Common Stock                       1,233,049
  Insmed Inc 34,580 Shares of Common Stock                       1,151,168
  Insulet Corp 13,800 Shares of Common Stock                       3,527,694
  Integer Hldgs 31,771 Shares of Common Stock                       2,579,487
  Intermed Cap Grp Ord 24,737 Shares of Common Stock                          583,634
  Interpublic Group Companies Inc 30,167 Shares of Common Stock                          709,528
  Interrent Real Est Trust 45,924 Shares of Common Stock                          493,485
  Intesa Sanpaolo 36,844 Shares of Common Stock                            86,221
  Intl Paper Co 309,947 Shares of Common Stock                     15,410,565
  Investor Ab 9,732 Shares of Common Stock                          710,061
  Invitation Homes Inc 122,507 Shares of Common Stock                       3,638,458
  Iovance Biotherapeutics Inc 70,811 Shares of Common Stock                       3,285,630
  Ipsen Sa 8,717 Shares of Common Stock                          724,200
  Ipsos 24,700 Shares of Common Stock                          834,119
  Iress Limited 68,764 Shares of Common Stock                          562,985
  Iriso Electronics 14,600 Shares of Common Stock                          630,694
  Itochu Corp 8,400 Shares of Common Stock                          241,151
  Ituran Location & Control 18,129 Shares of Common Stock                          345,357
  J & J Snack Foods Corp 12,187 Shares of Common Stock                       1,893,494
  J2 Global Inc 123,766 Shares of Common Stock                     12,090,701
  Japan Hotel Reit 995 Shares of Common Stock                          510,775
  Japan Lifeline Co 25,100 Shares of Common Stock                          395,542
  Japan Metropolitan Fund Invest 554 Shares of Common Stock                       1,006,639
  Japan Post Insuran 43,400 Shares of Common Stock                          887,799
  Jardine Cycle & Carriage 9,000 Shares of Common Stock                          133,129
  Jazz Pharmaceuticals Plc 7,800 Shares of Common Stock                       1,287,390
  Jbg Smith Properties 79,020 Shares of Common Stock                       2,470,955
  Jd Sports Fashion Ord 7,084 Shares of Common Stock                            83,278
  Jeol Ltd 19,900 Shares of Common Stock                          937,706
  Jgc Hldgs Corp 1,400 Shares of Common Stock                            13,072
         

 

 (continued)

 

28 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Jins Holdings Inc 9,100 Shares of Common Stock                          597,588
  Johnson & Johnson 95,308 Shares of Common Stock                     14,999,573
  Jpmorgan Chase & Co 94,132 Shares of Common Stock                     11,961,353
  Jungheinrich Non-Vtg Prf 16,600 Shares of Common Stock                          743,380
  Jyske Bank 15,000 Shares of Common Stock                          574,751
  Kajima Corp 27,300 Shares of Common Stock                          365,428
  Kambi Grp Plc 24,700 Shares of Common Stock                       1,166,946
  Kamigumi Co Ltd 32,500 Shares of Common Stock                          592,741
  Karyopharm Therapeutics Inc 135,120 Shares of Common Stock                       2,091,658
  Kb Home 40,340 Shares of Common Stock                       1,352,197
  Kbc Groep Nv 4,852 Shares of Common Stock                          340,052
  Kerry Properties 255,000 Shares of Common Stock                          645,898
  Kh Neochem Co Ltd 18,200 Shares of Common Stock                          481,420
  Kilroy Rlty Corp 13,668 Shares of Common Stock                          784,543
  Kimberly-Clark Corp 44,072 Shares of Common Stock                       5,942,228
  Kingfisher Ord 607,965 Shares of Common Stock                       2,247,180
  Kiniksa Pharmaceuticals-A 58,356 Shares of Common Stock                       1,031,151
  Kintetsu World Exp 27,000 Shares of Common Stock                          640,186
  Kion Group Ag 3,519 Shares of Common Stock                          306,392
  Klepierre 22,493 Shares of Common Stock                          506,117
  Knorr Bremse Ag 4,111 Shares of Common Stock                          561,752
  Kohls Corp 110,525 Shares of Common Stock                       4,497,262
  Kon Ahold Delhaize 108,007 Shares of Common Stock                       3,054,032
  Kone Corporation 17,898 Shares of Common Stock                       1,455,414
  Koninklijke Dsm 33,827 Shares of Common Stock                       5,827,575
  Koninklijke Philip 13,977 Shares of Common Stock                          748,706
  Kraft Heinz Co 73,800 Shares of Common Stock                       2,557,908
  Krones Ag Ord 8,400 Shares of Common Stock                          678,850
  Kurita Water Inds 3,700 Shares of Common Stock                          141,377
  Kyung Dong Navien 15,986 Shares of Common Stock                          766,704
  La Francaise Des 10,015 Shares of Common Stock                          458,417
  Lab Corp Amer Hldgs 9,500 Shares of Common Stock                       1,933,725
  Laborat Farma Rovi 12,900 Shares of Common Stock                          598,206
  Lafargeholcim Ltd 65,590 Shares of Common Stock                       3,607,654
  Lanxess Ag 12,832 Shares of Common Stock                          985,369
  Las Vegas Sands Corp 94,317 Shares of Common Stock                       5,621,293
  Lasertec Corp 2,500 Shares of Common Stock                          293,235
  Lci Industries 47,138 Shares of Common Stock                       6,112,856
  Leg Immobilien Ag 7,602 Shares of Common Stock                       1,181,839
  Leidos Hldgs Inc 14,900 Shares of Common Stock                       1,566,288
  Lendlease Corp Ltd 97,532 Shares of Common Stock                          985,913
  Lennar Corp 77,367 Shares of Common Stock                       5,897,686
  Lg Innotek Co 6,370 Shares of Common Stock                       1,070,169
  Liberty Broadband Corp 13,514 Shares of Common Stock                       2,140,212
  Liberty Media Corp Del 52,800 Shares of Common Stock                       2,297,328
         

 

 (continued)

29 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Life Storage Inc 16,813 Shares of Common Stock                       2,007,304
  Ligand Pharmaceuticals Incorporated 42,784 Shares of Common Stock                       4,254,869
  Lightspeed Pos Inc 69,320 Shares of Common Stock                       4,879,435
  Linde Plc 38,811 Shares of Common Stock                     10,114,774
  Link Real Estate Investment 270,400 Shares of Common Stock                       2,462,033
  Lion Corp 36,700 Shares of Common Stock                          887,952
  Liveramp Holdings Inc 30,349 Shares of Common Stock                       2,221,243
  Lkq Corp 60,100 Shares of Common Stock                       2,117,924
  Loews Corp 54,694 Shares of Common Stock                       2,462,324
  Logitech Intl 15,854 Shares of Common Stock                       1,541,010
  London Stock Exchange Group Ord 6,592 Shares of Common Stock                          811,705
  Lonza Group Ag 4,166 Shares of Common Stock                       2,680,718
  Loomis Ak 21,800 Shares of Common Stock                          600,442
  M&G Plc Ord 960,001 Shares of Common Stock                       2,597,645
  Magellan Health Inc 20,523 Shares of Common Stock                       1,700,125
  Magna International Inc 143,855 Shares of Common Stock                     10,184,934
  Maisons Du Monde 33,800 Shares of Common Stock                          618,272
  Mapletree Ind Tst 237,980 Shares of Common Stock                          520,381
  Marel Hf 144A 99,700 Shares of Common Stock                          612,379
  Markel Corp Holding Co 1,500 Shares of Common Stock                       1,549,950
  Marr Spa 30,100 Shares of Common Stock                          620,935
  Marsh & Mclennan Co'S Inc 81,257 Shares of Common Stock                       9,507,069
  Marubeni Corp 34,300 Shares of Common Stock                          227,936
  Maruwa Co Ltd 4,100 Shares of Common Stock                          460,255
  Masimo Corp 21,820 Shares of Common Stock                       5,856,052
  Masonite Intl Corp 63,071 Shares of Common Stock                       6,202,402
  Maximus Inc 69,844 Shares of Common Stock                       5,111,883
  Mayr-Melnhof Karto 3,300 Shares of Common Stock                          666,223
  Mebuki Financial Group Inc 420,100 Shares of Common Stock                          825,999
  Medacta Group Sa 12,170 Shares of Common Stock                       1,206,055
  Medifast Inc 41,306 Shares of Common Stock                       8,110,020
  Medipal Holdings Corp 30,800 Shares of Common Stock                          578,143
  Medpace Hldgs Inc 24,411 Shares of Common Stock                       3,398,011
  Medtronic Plc 154,729 Shares of Common Stock                     18,124,955
  Megaport Ltd 50,131 Shares of Common Stock                          551,241
  Meitec Corporation 11,400 Shares of Common Stock                          591,835
  Melia Hotels Intl 103,400 Shares of Common Stock                          723,666
  Mercadolibre Inc 368 Shares of Common Stock                          616,481
  Merck & Co Inc 62,089 Shares of Common Stock                       5,078,880
  Merlin Properties 88,366 Shares of Common Stock                          841,175
  Metlife Inc 334,794 Shares of Common Stock                     15,718,578
  Mettler-Toledo Intl 7,064 Shares of Common Stock                       8,050,700
  Mgm Growth Pptys Llc 14,493 Shares of Common Stock                          453,631
  Michelin (Cgde) 14,526 Shares of Common Stock                       1,865,307
  Microchip Technology Inc 52,450 Shares of Common Stock                       7,243,870
         

 

 (continued)

 

30 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Microsoft Corp 89,659 Shares of Common Stock                     19,941,955
  Mimecast Limited Mimecast Ltd 14,637 Shares of Common Stock                          831,967
  Minerals Technologies Inc 33,271 Shares of Common Stock                       2,066,795
  Mips Mips 15,000 Shares of Common Stock                          940,634
  Misumi Group Inc 20,300 Shares of Common Stock                          665,558
  Mitsubishi Corp 18,500 Shares of Common Stock                          455,310
  Mitsubishi Elec Cp 9,500 Shares of Common Stock                          143,266
  Mitsubishi Estate Co Ltd 187,300 Shares of Common Stock                       3,006,016
  Mitsubishi Gas Chm 62,900 Shares of Common Stock                       1,443,267
  Mitsubishi Logisne 61,100 Shares of Common Stock                          700,687
  Mitsui Fudosan Co Ltd 75,453 Shares of Common Stock                       1,577,464
  Miura Co Ltd 19,100 Shares of Common Stock                       1,065,582
  Mmc Norilsk Nickel Adr 49,807 Shares of Common Stock                       1,553,978
  Molson Coors Beverage Company 62,885 Shares of Common Stock                       2,841,773
  Monarch Casino & Resort Inc 37,749 Shares of Common Stock                       2,310,994
  Mondi Plc 5,676 Shares of Common Stock                          133,413
  Moneysupermarket.C Ord 159,939 Shares of Common Stock                          569,746
  Mongodb Inc 17,430 Shares of Common Stock                       6,258,067
* Morgan Stanley 31,072,026 Shares of Common Stock                2,129,365,941
  Mori Hills Reit 417 Shares of Common Stock                          574,741
  Morphosys 4,900 Shares of Common Stock                          562,488
  Mosaic Co/The 57,400 Shares of Common Stock                       1,320,774
  Msc Indl Direct Inc 11,197 Shares of Common Stock                          944,915
  Msci Inc 14,210 Shares of Common Stock                       6,345,191
  Mtu Aero Engines A 4,098 Shares of Common Stock                       1,070,011
  Munters Group Ab 57,800 Shares of Common Stock                          584,155
  Murata Manufacturing Co. 4,600 Shares of Common Stock                          415,245
  Murphy Usa Inc 18,445 Shares of Common Stock                       2,413,897
  Musti Group Oyj 7,000 Shares of Common Stock                          210,181
  Nagaileben Co 21,100 Shares of Common Stock                          603,091
  Namen-Akt Vz Holding Ag 9,820 Shares of Common Stock                          898,736
  National Bk Hldgs Corp 56,806 Shares of Common Stock                       1,860,965
  National Storage R Reit Stapled Unit 589,088 Shares of Common Stock                          868,228
  Ncr Corp 187,423 Shares of Common Stock                       7,041,482
  Nektar Therapeutics 57,004 Shares of Common Stock                          969,068
  Nestle Sa 86,634 Shares of Common Stock                     10,218,294
  New World Devel Co 375,750 Shares of Common Stock                       1,749,399
  Newcrest Mining Ltd 11,276 Shares of Common Stock                          224,315
  News Corp Com 469,028 Shares of Common Stock                       8,428,433
  Nexans Sa 9,700 Shares of Common Stock                          703,205
  Nexon Co Ltd 45,200 Shares of Common Stock                       1,392,184
  Nexstar Media Group Inc 10,160 Shares of Common Stock                       1,109,370
  Nextdc Ltd 94,287 Shares of Common Stock                          889,813
  Nextera Energy Inc 164,400 Shares of Common Stock                     12,683,460
  Ngk Spark Plug Co 64,300 Shares of Common Stock                       1,097,980
         

 

 (continued)

 

 

31 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Nice Information S 28,200 Shares of Common Stock                          643,800
  Nielsen Holdings Plc 225,900 Shares of Common Stock                       4,714,533
  Nihon Parkerizing 36,700 Shares of Common Stock                          379,992
  Nihon Unisys 11,100 Shares of Common Stock                          434,345
  Nintendo Co Ltd 6,300 Shares of Common Stock                       4,016,940
  Nippon Shinyaku Co 20,000 Shares of Common Stock                       1,311,444
  Nippon Yusen Kabushiki Kaisha 4,000 Shares of Common Stock                            93,060
  Nisource Inc 98,900 Shares of Common Stock                       2,268,766
  Nitto Denko Corp 12,600 Shares of Common Stock                       1,126,427
  Nitto Kohki Co Ltd 27,000 Shares of Common Stock                          457,388
  Nokia Oyj 230,711 Shares of Common Stock                          889,485
  Nomura Holdings 26,500 Shares of Common Stock                          139,886
  Nomura Real Estate Master Fu 1,082 Shares of Common Stock                       1,546,837
  Nordnet Ab 10,100 Shares of Common Stock                          158,770
  Novartis Ag 24,178 Shares of Common Stock                       2,288,014
  Novo-Nordisk 38,766 Shares of Common Stock                       2,718,750
  Nutanix Inc 150,260 Shares of Common Stock                       4,788,786
  Nxp Semiconductors 82,444 Shares of Common Stock                     13,109,421
  O Reilly Automotive Inc 18,310 Shares of Common Stock                       8,286,557
  Obayashi Corp 253,900 Shares of Common Stock                       2,188,687
  Obic Co Ltd 4,000 Shares of Common Stock                          803,138
  Oc Oerlikon Corp 62,560 Shares of Common Stock                          647,575
  Oceanfirst Finl Corp 81,964 Shares of Common Stock                       1,526,989
  Odfjell Drilling Limited 131,600 Shares of Common Stock                          263,447
  Oge Energy Corp 84,900 Shares of Common Stock                       2,704,914
  Okinawa Cellular 13,600 Shares of Common Stock                          586,179
  Olympus Corp 40,000 Shares of Common Stock                          874,231
  On Semiconductor Corp 78,906 Shares of Common Stock                       2,582,593
  One Gas Inc 31,459 Shares of Common Stock                       2,415,107
  Ono Pharmaceutical 7,300 Shares of Common Stock                          219,753
  Optinose Inc 92,279 Shares of Common Stock                          382,035
  Orange 84,878 Shares of Common Stock                       1,010,900
  Origin Energy Ltd 95,919 Shares of Common Stock                          352,316
  Orion Corp 9,792 Shares of Common Stock                          699,161
  Otsuka Corp 13,100 Shares of Common Stock                          691,510
  Pacira Biosciences Inc 43,231 Shares of Common Stock                       2,586,943
  Pacwest Bancorp Del 71,981 Shares of Common Stock                       1,828,317
  Palo Alto Networks Inc 10,620 Shares of Common Stock                       3,774,242
  Panasonic Corp 44,300 Shares of Common Stock                          510,816
  Pandora 20,922 Shares of Common Stock                       2,342,053
  Park Hotels & Resorts Inc 28,432 Shares of Common Stock                          487,609
  Patrizia Ag 31,900 Shares of Common Stock                       1,024,570
  Pdc Energy Inc 79,266 Shares of Common Stock                       1,627,331
  Penta Ocean Const 100,600 Shares of Common Stock                          864,276
  Perrigo Company Limited 111,574 Shares of Common Stock                       4,989,589
         

 

 (continued)

 

 

32 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Persimmon Ord 7,927 Shares of Common Stock                          299,827
  Perspecta Inc 52,708 Shares of Common Stock                       1,269,209
  Peugeot Sa 50,273 Shares of Common Stock                       1,376,013
  Pfizer Inc 245,594 Shares of Common Stock                       9,040,315
  Pgt Inc 117,473 Shares of Common Stock                       2,389,401
  Philip Morris Intl 159,917 Shares of Common Stock                     13,239,528
  Pioneer Nat Res Co 45,302 Shares of Common Stock                       5,159,445
  Points Intl Ltd 47,572 Shares of Common Stock                          685,037
  Pola Orbis Hldg In 27,300 Shares of Common Stock                          553,695
  Pool Corp 19,605 Shares of Common Stock                       7,302,863
  Post Hldgs Inc 33,000 Shares of Common Stock                       3,333,330
  Poste Italiane Spa 15,447 Shares of Common Stock                          157,249
  Premier Inc 151,298 Shares of Common Stock                       5,310,560
  Prestige Consumer Healthcare Inc 106,870 Shares of Common Stock                       3,726,557
  Prima Meat Packers 19,600 Shares of Common Stock                          620,776
  Prologis Inc 61,031 Shares of Common Stock                       6,082,349
  Prosegur Seguridad 176,249 Shares of Common Stock                          525,753
  Prosus 25,663 Shares of Common Stock                       2,774,501
  Proximus 37,556 Shares of Common Stock                          744,876
  Prysmian Spa 35,159 Shares of Common Stock                       1,250,987
  Psp Swiss Property 4,988 Shares of Common Stock                          667,550
  Publicis Groupe Sa 29,850 Shares of Common Stock                       1,488,676
  Puma Biotechnology Inc 38,136 Shares of Common Stock                          391,275
  Puma Se 6,990 Shares of Common Stock                          789,235
  Pva Tepla Ag Ord 12,682 Shares of Common Stock                          304,134
  Qorvo Inc 4,000 Shares of Common Stock                          665,080
  Qualcomm Inc 150,273 Shares of Common Stock                     22,892,589
  Qualys Inc 18,919 Shares of Common Stock                       2,305,659
  Quest Diagnostics 41,220 Shares of Common Stock                       4,912,187
  Quinstreet Inc 47,967 Shares of Common Stock                       1,028,412
  Radian Group 137,895 Shares of Common Stock                       2,792,374
  Radware Ltd 76,668 Shares of Common Stock                       2,127,537
  Raffles Medical 634,061 Shares of Common Stock                          477,351
  Reata Pharmaceuticals Inc 13,494 Shares of Common Stock                       1,668,128
  Recordati 10,200 Shares of Common Stock                          565,728
  Red Electrica Corp 33,249 Shares of Common Stock                          682,437
  Regency Ctrs Corp 24,456 Shares of Common Stock                       1,114,949
  Reliance Inds Spon Gdr 46,932 Shares of Common Stock                       2,567,180
  Relo Group Inc 26,900 Shares of Common Stock                          650,842
  Renasant Corp 55,391 Shares of Common Stock                       1,865,569
  Renesas Electronics Corporation 135,900 Shares of Common Stock                       1,420,273
  Renewi Plc Ord 1,359,275 Shares of Common Stock                          768,308
  Repsol Sa 50,836 Shares of Common Stock                          513,153
  Resona Holdings 158,800 Shares of Common Stock                          554,327
  Revance Therapeutics Inc 82,421 Shares of Common Stock                       2,335,811
         

 

 (continued)

 

33 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Rexel 63,282 Shares of Common Stock                          998,443
  Rexford Indl Rlty Inc 47,775 Shares of Common Stock                       2,346,230
  Rexnord Corp 44,381 Shares of Common Stock                       1,752,606
  Rhi Magnesita 14,500 Shares of Common Stock                          694,916
  Ringcentral Inc 15,380 Shares of Common Stock                       5,828,559
  Rinnai Corp 4,400 Shares of Common Stock                          510,553
  Rio Tinto Limited 5,541 Shares of Common Stock                          486,704
  Rio Tinto Ord 47,415 Shares of Common Stock                       3,545,322
  Roche Hldgs Ag Genusscheine 39,617 Shares of Common Stock                     13,848,807
  Rocket Pharmaceuticals Inc 27,140 Shares of Common Stock                       1,488,358
  Rockwell Automation 49,656 Shares of Common Stock                     12,454,222
  Rohm Co Ltd 24,800 Shares of Common Stock                       2,399,651
  Roku Inc 17,100 Shares of Common Stock                       5,677,542
  Ross Stores Inc 66,150 Shares of Common Stock                       8,123,882
  Royal Dutch Shell 55,997 Shares of Common Stock                          964,009
  Rpm Intl Inc 61,480 Shares of Common Stock                       5,581,154
  Rsa Insurance Grp Ord 15,707 Shares of Common Stock                          145,442
  Ryohin Keikaku Co 3,700 Shares of Common Stock                            75,437
  S.W. Airl Co 155,059 Shares of Common Stock                       7,227,300
  Sabra Health Care Reit Inc 33,054 Shares of Common Stock                          574,148
  Saf Holland 65,400 Shares of Common Stock                          896,226
  Safestore Hldgs Ord 86,974 Shares of Common Stock                          927,335
  Sage Group 95,237 Shares of Common Stock                          757,672
  Saia Inc 9,645 Shares of Common Stock                       1,743,816
  Sam Yung Trading 43,141 Shares of Common Stock                          555,992
  Samsung Electronic 64,642 Shares of Common Stock                       4,820,033
  San-Ai Oil Co 68,600 Shares of Common Stock                          742,178
  Sandvik Ab 138,890 Shares of Common Stock                       3,404,370
  Sandy Spring Bancorp Inc 57,496 Shares of Common Stock                       1,850,796
  Sanne Group Plc Ord 61,700 Shares of Common Stock                          519,539
  Sanofi 24,852 Shares of Common Stock                       2,393,083
  Sanwa Holdings 39,500 Shares of Common Stock                          459,867
  Sartorius Stedim B 1,400 Shares of Common Stock                          498,817
  Sato Holdings 21,400 Shares of Common Stock                          461,185
  Saul Ctrs Inc 11,476 Shares of Common Stock                          363,560
  Sbanken Asa 34,234 Shares of Common Stock                          275,489
  Scentre Group 380,710 Shares of Common Stock                          816,694
  Schlumberger Ltd 125,040 Shares of Common Stock                       2,729,623
  Schneider Electric 4,158 Shares of Common Stock                          601,854
  Schwab Charles Corp 251,946 Shares of Common Stock                     13,363,216
  Science Applications Intl Corp 3,500 Shares of Common Stock                          331,240
  Scout24 Ag 6,700 Shares of Common Stock                          549,662
  Seacoast Bkg Corp Fla 82,283 Shares of Common Stock                       2,423,234
  Seagen Inc 48,990 Shares of Common Stock                       8,580,109
  Sealed Air Corp 27,200 Shares of Common Stock                       1,245,488
         

 

 (continued)

 

34 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Seb Sa 4,121 Shares of Common Stock                          751,295
  Sega Sammy Hldgs 5,300 Shares of Common Stock                            83,521
  Segro Plc Ord 287,773 Shares of Common Stock                       3,727,587
  Sekisui Chemical Co Ltd 6,500 Shares of Common Stock                          123,018
  Sekisui House 28,700 Shares of Common Stock                          583,757
  Sekisui House Reit 1,061 Shares of Common Stock                          770,740
  Sekisui Jushi Corp 33,000 Shares of Common Stock                          696,789
  Selective Ins Group Inc 45,130 Shares of Common Stock                       3,022,807
  Sempra Energy Inc 40,858 Shares of Common Stock                       5,205,718
  Sempra Energy Mandatory Conversion  48,942 Shares of Common Stock                       4,882,454
  Sempra Energy Mandatory Pfd Conv 10,603 Shares of Common Stock                       1,099,849
  Semtech Corp Com 102,234 Shares of Common Stock                       7,370,050
  Senior 294,600 Shares of Common Stock                          359,413
  Sensient Technologies Corp 26,297 Shares of Common Stock                       1,939,930
  Ses Fdr 15,352 Shares of Common Stock                          144,937
  Sgs Sa 425 Shares of Common Stock                       1,283,726
  Shangri-La Asia 486,000 Shares of Common Stock                          433,109
  Shimamura Co 13,300 Shares of Common Stock                       1,396,407
  Shimizu Corp 196,900 Shares of Common Stock                       1,430,336
  Shinko Elec Inds 38,400 Shares of Common Stock                          877,757
  Shinsei Bank 128,100 Shares of Common Stock                       1,576,978
  Shionogi & Co Ltd 1,400 Shares of Common Stock                            76,410
  Shutterstock Inc 59,688 Shares of Common Stock                       4,279,630
  Siemens Ag 28,719 Shares of Common Stock                       4,129,551
  Siemens Energy Ag 89,063 Shares of Common Stock                       3,269,191
  Signature Aviation Plc Ord 188,340 Shares of Common Stock                          996,337
  Signature Bk Ny 43,398 Shares of Common Stock                       5,871,315
  Silgan Hldgs Inc 58,397 Shares of Common Stock                       2,165,361
  Siltronic Ag 7,300 Shares of Common Stock                       1,144,178
  Sim Corp 5,400 Shares of Common Stock                          803,764
  Simon Property Group Inc 10,492 Shares of Common Stock                          894,758
  Simpson Mfg Inc 20,281 Shares of Common Stock                       1,895,259
  Sjm Holdings Ltd. 143,000 Shares of Common Stock                          159,896
  Skanska Ab 4,726 Shares of Common Stock                          120,674
  Skf Ab 28,396 Shares of Common Stock                          737,859
  Societe Generale 15,044 Shares of Common Stock                          313,325
  Sodexho 1,929 Shares of Common Stock                          163,375
  Solarwinds Corp 50,503 Shares of Common Stock                          755,020
  Solvay Sa 3,294 Shares of Common Stock                          390,463
  Sonic Healthcare 29,412 Shares of Common Stock                          729,669
  Sonova Holding Ag 4,945 Shares of Common Stock                       1,286,668
  Sony Corp 48,400 Shares of Common Stock                       4,821,483
  Sosila Logistics R Reit 337 Shares of Common Stock                          411,601
  South32 Ltd 1,369,417 Shares of Common Stock                       2,610,075
  Southern Co 382,852 Shares of Common Stock                     23,518,598
  Southern Co Corporate 65,119 Shares of Common Stock                       3,379,676
         

 

 (continued)

 

35 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Spar Nord Bank 43,900 Shares of Common Stock                          431,531
  Splunk Inc 41,530 Shares of Common Stock                       7,055,532
  Square Enix Holdings Co Ltd 17,400 Shares of Common Stock                       1,055,005
  Ss&C Technologies Hldgs Inc 93,220 Shares of Common Stock                       6,781,755
  St James'S Place Ord 41,000 Shares of Common Stock                          635,270
  Stabilus S.A. 9,300 Shares of Common Stock                          656,569
  State Str Corp 102,068 Shares of Common Stock                       7,428,509
  Stericycle Inc 63,345 Shares of Common Stock                       4,391,709
  Steris Plc Ord 32,380 Shares of Common Stock                       6,137,305
  Sthree Plc Ord 165,498 Shares of Common Stock                          674,158
  Stmicroelectronics 53,875 Shares of Common Stock                       1,996,020
  Stockland 162,742 Shares of Common Stock                          524,924
  Stora Enso Oyj 7,205 Shares of Common Stock                          137,921
  Store Capital Corporation 62,239 Shares of Common Stock                       2,114,881
  Strategic Ed Inc 34,685 Shares of Common Stock                       3,306,521
  Stride Inc 114,248 Shares of Common Stock                       2,425,485
  Subaru Corporation 72,100 Shares of Common Stock                       1,440,324
  Sumco Corporation 110,500 Shares of Common Stock                       2,422,021
  Sumitomo Electric 17,600 Shares of Common Stock                          232,945
  Sumitomo Realty & Development 6,800 Shares of Common Stock                          209,509
  Sumitomo Rubber 11,200 Shares of Common Stock                            96,222
  Summit Hotel Properties Inc 10,391 Shares of Common Stock                            93,623
  Summit Indl Income Trust Units 89,407 Shares of Common Stock                          957,932
  Sun Communities Inc 56,864 Shares of Common Stock                       8,640,485
  Sun Hung Kai Prop 154,091 Shares of Common Stock                       1,987,284
  Sunac China Hldgs 70,000 Shares of Common Stock                          258,646
  Sunac Services Hld 222,927 Shares of Common Stock                          493,358
  Suncorp Group Ltd 45,943 Shares of Common Stock                          345,302
  Supernus Pharmaceuticals Inc 78,175 Shares of Common Stock                       1,966,883
  Suruga Bank 104,500 Shares of Common Stock                          342,109
  Suzuken Co Ltd 19,000 Shares of Common Stock                          686,425
  Svenska Handelsbanken 212,836 Shares of Common Stock                       2,140,657
  Swatch Group 481 Shares of Common Stock                          131,412
  Swedish Match 5,600 Shares of Common Stock                          434,905
  Swire Pacific 27,500 Shares of Common Stock                          152,505
  Symrise Ag 13,184 Shares of Common Stock                       1,748,631
  Synchrony Finl 149,240 Shares of Common Stock                       5,180,120
  Tabcorp Holdings Ltd 27,472 Shares of Common Stock                            82,675
  Taiheiyo Cement 39,800 Shares of Common Stock                          994,181
  Taisei Corp 36,400 Shares of Common Stock                       1,253,349
  Tc Energy Corporation 176,220 Shares of Common Stock                       7,175,678
  Te Connectivity Ltd 65,911 Shares of Common Stock                       7,979,845
  Tecan Group Ag 3,500 Shares of Common Stock                       1,717,631
  Teijin Ltd 21,600 Shares of Common Stock                          405,870
  Telecom Italia Spa 2,355,263 Shares of Common Stock                       1,087,585
         

 

 (continued)

 

36 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Teledyne Technologies Inc 12,340 Shares of Common Stock                       4,837,033
  Telenet Grp Hldg 1,768 Shares of Common Stock                            75,886
  Temenos Ag 8,013 Shares of Common Stock                       1,120,886
  Tencent Hldgs Limited 64,300 Shares of Common Stock                       4,677,057
  Terreno Rlty Corp 47,789 Shares of Common Stock                       2,796,135
  Texas Instruments Inc 81,599 Shares of Common Stock                     13,392,844
  Thales Sa 5,641 Shares of Common Stock                          516,963
  Thermo Fisher Corp 14,431 Shares of Common Stock                       6,721,671
  Tjx Cos Inc 143,330 Shares of Common Stock                       9,788,006
  Tokyo Electron 5,800 Shares of Common Stock                       2,157,199
  Tokyo Ohka Kogyo 12,600 Shares of Common Stock                          884,789
  Tokyo Tatemono Co 49,100 Shares of Common Stock                          672,928
  Topbuild Corp 16,363 Shares of Common Stock                       3,012,101
  Toshiba Corp 68,000 Shares of Common Stock                       1,900,140
  Tosoh Corp 21,600 Shares of Common Stock                          336,411
  Total Se Spon Ads Ea 456,061 Shares of Common Stock                     19,113,517
  Towngas China Co 964,000 Shares of Common Stock                          435,139
  Toyo Suisan Kaisha 2,400 Shares of Common Stock                          116,693
  Toyoda Gosei 12,500 Shares of Common Stock                          362,608
  Toyota Tsusho Corp 2,600 Shares of Common Stock                          104,886
  Tradeweb Mkts Inc 91,380 Shares of Common Stock                       5,706,681
  Trane Technologies Plc 46,170 Shares of Common Stock                       6,702,037
  Transdigm Group Inc 13,354 Shares of Common Stock                       8,264,123
  Transunion 49,890 Shares of Common Stock                       4,950,086
  Treasury Wine Esta 63,041 Shares of Common Stock                          457,269
  Tsuruha Holdings 5,000 Shares of Common Stock                          710,930
  Twilio Inc 25,010 Shares of Common Stock                       8,465,885
  Tyson Foods Inc 183,931 Shares of Common Stock                     11,852,514
  Ubisoft Entertain 7,900 Shares of Common Stock                          762,071
  Ucb 36,767 Shares of Common Stock                       3,800,440
  Udg Healthcare Plc Ord 64,500 Shares of Common Stock                          687,713
  Ugi Corp 98,600 Shares of Common Stock                       3,447,056
  Ulta Beauty Inc 21,960 Shares of Common Stock                       6,306,034
  Ultra Electronic Holdings Ord 19,900 Shares of Common Stock                          563,632
  Umpqua Hldgs Corp 138,650 Shares of Common Stock                       2,099,161
  Unibail-Rodamco-Westfield 2,567 Shares of Common Stock                          202,836
  Unicaja Banco 520,400 Shares of Common Stock                          455,266
  Unifirst Corp Mass 12,431 Shares of Common Stock                       2,631,518
  Uniper Se 36,807 Shares of Common Stock                       1,271,794
  Unite Group Ord 116,415 Shares of Common Stock                       1,662,945
  United Parcel Svc Inc 133,484 Shares of Common Stock                     22,478,706
  United Therapeutics Corp Del 9,600 Shares of Common Stock                       1,457,184
  United Urban Inves Reit 1,332 Shares of Common Stock                       1,646,212
  Upm-Kymmene Corp 14,871 Shares of Common Stock                          554,414
  Us Foods Hldg Corp 36,600 Shares of Common Stock                       1,219,146
         

 

 (continued)

 

37 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Vail Resorts Inc 13,536 Shares of Common Stock                       3,776,003
  Value Partners Gp 775,000 Shares of Common Stock                          408,797
  Venture Corp Ltd 50,800 Shares of Common Stock                          746,443
  Viacomcbs Inc 41,769 Shares of Common Stock                       1,556,313
  Viatris Inc 57,600 Shares of Common Stock                       1,079,424
  Viavi Solutions Inc 150,745 Shares of Common Stock                       2,257,406
  Vicat Sa 16,000 Shares of Common Stock                          672,463
  Vici Pptys Inc 50,698 Shares of Common Stock                       1,292,799
  Vinci 20,272 Shares of Common Stock                       2,018,038
  Vistra Corp 142,000 Shares of Common Stock                       2,791,720
  Vistry Group Plc 56,800 Shares of Common Stock                          729,454
  Volkswagen Ag 18,682 Shares of Common Stock                       3,484,072
  Vonovia Se 91,535 Shares of Common Stock                       6,692,979
  Vontier Corp 57,700 Shares of Common Stock                       1,927,180
  Wacker Chemie Ag 7,300 Shares of Common Stock                       1,042,801
  Walmart Inc 50,209 Shares of Common Stock                       7,237,627
  Walt Disney Co 62,777 Shares of Common Stock                     11,373,937
  Wartsila 33,336 Shares of Common Stock                          332,424
  Waste Connections Inc 27,160 Shares of Common Stock                       2,785,801
  Watts Wtr Technologies Inc 25,674 Shares of Common Stock                       3,124,526
  Wells Fargo & Co 738,052 Shares of Common Stock                     22,274,409
  Welltower Inc 62,053 Shares of Common Stock                       4,009,865
  Wesfarmers Ltd 14,748 Shares of Common Stock                          573,567
  Western Alliance Bancorporation 55,728 Shares of Common Stock                       3,340,894
  Wetherspoon (J.D) Ord 42,300 Shares of Common Stock                          645,293
  Weyerhaeuser Co 11,082 Shares of Common Stock                          371,579
  Wh Group Limited 3,061,000 Shares of Common Stock                       2,566,016
  Wienerberger Ag 36,693 Shares of Common Stock                       1,170,880
  Wihlborgs Fast. Ab 30,222 Shares of Common Stock                          682,268
  Wiley John & Sons Inc 15,764 Shares of Common Stock                          719,784
  Willdan Group Inc 59,852 Shares of Common Stock                       2,495,828
  Williams Co Inc 109,400 Shares of Common Stock                       2,193,470
  Williams Sonoma Inc 43,900 Shares of Common Stock                       4,470,776
  Willis Towers Watson Plc 15,995 Shares of Common Stock                       3,369,827
  Wing Tai Holdings 332,900 Shares of Common Stock                          491,170
  Wix.Com Ltd 28,896 Shares of Common Stock                       7,222,844
  Wolters Kluwer 15,270 Shares of Common Stock                       1,290,290
  Wood Group (John) Ord 135,800 Shares of Common Stock                          575,830
  World Wrestling Entmnt 76,510 Shares of Common Stock                       3,676,306
  Xilinx Inc 50,020 Shares of Common Stock                       7,091,335
  Xpo Logistics Inc 34,526 Shares of Common Stock                       4,115,499
  Yamato Holdings 28,400 Shares of Common Stock                          723,719
  Yamazen Corp 48,100 Shares of Common Stock                          481,256
  Yangzijiang Shipbu 1,742,100 Shares of Common Stock                       1,258,809
  Z Holdings Corp 18,900 Shares of Common Stock                          114,302
         

 

 (continued)

 

38 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate equities (continued)        
  Zalando Se 3,132 Shares of Common Stock                          348,956
  Zendesk Inc 90,760 Shares of Common Stock                     12,989,571
  Zimmer Biomet Hldgs Inc 58,828 Shares of Common Stock                       9,064,807
  Zogenix Inc 46,965 Shares of Common Stock                          938,830
  Zon Optimus Sgps Sa 94,800 Shares of Common Stock                          331,507
  Zozo Inc 15,700 Shares of Common Stock                          387,615
  Zuken Inc Npv 34,500 Shares of Common Stock                          965,378
  Zumtobel Group Ag 40,400 Shares of Common Stock                          301,532
           
  Cash and cash equivalents        
  Cash Foreign currency and collaterals                     58,028,151
           
  Government securities        
  Federal Home Loan Banks Fltg Due            05-07-2021 Reg                     20,537,861
  Federal Home Loan Banks Tranche 00793 Fltg  09-10-2021                     10,523,670
  Federal Home Loan Banks Corp Fltg Due       06-02-2022 Reg                     10,523,463
  Federal Home Loan Banks Disc Nt 03-17-2021 0% Disc Nts     17/03/2021 Usd                     10,458,255
  Federal Home Loan Banks Fltg   Due          02-09-2021                       9,290,285
  Federal Home Loan Banks .17% Due 05-13-2021 Reg                       9,195,881
  Federal Home Loan Banks Fltg  Due           04-05-2021 Reg                       8,121,294
  Federal Home Loan Banks Cons Disc Nts        01-20-2021                       7,894,754
  Federal Home Loan Banks Cons                0.12% 06-04-2021 06-04-2021                       7,075,380
  Federal Home Loan Banks Disc Nt 03-19-2021                       7,013,707
  Federal Home Loan Banks Tranche 00708 .19%  Due 03-25-2021                       7,001,561
  Federal Home Loan Banks Fltg Rt Due         02-28-2022                       6,221,527
  Federal Home Loan Banks 0% Due 04-29-2021                       6,023,268
  Federal Home Loan Banks Tra .11%            06-29-2021                       5,425,169
  Federal Home Loan Banks Corp Dtd 8/5/2020   .69% 08-05-2025                       5,102,372
  Federal Home Loan Banks Disc Nt 06-11-2021 0% Disc Nts     11/06/2021 Usd                       4,962,821
  Federal Home Loan Banks Disc Nt 02-17-2021 0% Disc Nts     17/02/2021 Usd                       4,624,507
  Federal Home Loan Banks Disc Nt 03-24-2021 0% Disc Nts     24/03/2021 Usd                       4,624,061
  Federal Home Loan Banks Disc Nt 04-12-2021 0% Disc Nts     12/04/2021 Usd                       4,602,283
  Federal Home Loan Banks Cons Bd Fltg Rate 1.641% Due  04-27-2021                       4,284,468
  Federal Home Loan Banks Fltg Due            05-03-2021 Rg                       4,140,738
  Federal Home Loan Banks 06-15-2021                       4,045,454
  Federal Home Loan Banks Fltg  Due 03-12-2021                       4,005,785
  Federal Home Loan Banks Corp Dtd 8/18/2020  .7% 08-18-2025                       3,900,457
  Federal Home Loan Banks Corp .099545%       11-10-2022                       3,738,989
  Federal Home Loan Banks Fltg                01-08-2021                       3,599,974
  Federal Home Loan Banks Fltg Due            07-08-2021 Reg                       3,225,909
  Federal Home Loan Banks Tranche 00053 Due   03-04-2021                       2,840,326
  Federal Home Loan Banks Corp .68% Due       08-06-2025/08-06-2021 Reg                       2,808,225
  Federal Home Loan Banks .2%                 12-17-2020                       2,756,921
  Federal Home Loan Banks Disc Nt 02-03-2021 0% Disc Nts     03/02/2021 Usd                       2,254,850
  Federal Home Loan Banks Disc Nt 01-15-2021 0% Disc Nts     15/01/2021 Usd                       2,239,952
         

 

 (continued)

 

39 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  Federal Home Loan Banks Corp Tranche # Tr   00572 .65% 10-22-2025                       2,200,543
  Federal Home Loan Banks Tranche 00414 0 07-23-2021                       2,155,000
  Federal Home Loan Banks Fltg Rt            04-28-2022 Reg                       1,995,927
  Federal Home Loan Banks Disc Nt 05-19-2021 0% Disc Nts     19/05/2021 Usd                       1,684,368
  Federal Home Loan Banks Tranche Fltg  Due   01-22-2021 Reg                       1,555,023
  Federal Home Loan Banks Corp Tranche # Tr   00856 .65% 10-27-2025                       1,400,052
  Federal Home Loan Banks Corp Tranche # Tr   00867 .8% 10-28-2026                       1,400,025
  Federal Home Loan Banks Disc Nt 01-04-2021 0% Disc Nts     04/01/2021 Usd                       1,120,000
  Federal Home Loan Banks Corp Pool #Zm2479 4%01-01-2047 Beo                          674,786
  Federal Home Loan Banks Corp Pool #G08841   3.5% 10-01-2048 Beo                          170,883
  Federal Home Loan Banks Corp Ser 4678 Cl Af Fltg Rt 12-15-2042                          112,404
  FFCB Cons Systemwide Bds Dtd .256279% 07-20-2022                     25,042,038
  FFCB Disc Nt 02-17-2021 0% Disc Nts     17/02/2021 Usd                     11,378,483
  FFCB Disc Nt 04-26-2021 0% Disc Nts     26/04/2021 Usd                     11,376,814
  FFCB Fltg                10-21-2022                       8,900,000
  FFCB Disc Nt 06-01-2021 0% Disc Nts     01/06/2021 Usd                       6,577,295
  FFCB Fltg Rt  11-03-2022                       6,069,438
  FFCB Cons Systemwide Disc Nts 01-19-2021                       5,919,827
  FFCB Disc Nt Due 0%         07-28-2021                       5,460,558
  FFCB Cons Systemwide Fltg 09-02-2022                       5,415,000
  FFCB Fltg Rt             04-16-2021                       5,345,843
  FFCB Fltg Rt 10-14-2022                       5,309,927
  FFCB Cons Systemwide Disc Nts 02-12-2021                       5,014,565
  FFCB Cons Systemwide Bds Tranche Var 01-15-2021 Reg                       5,000,139
  FFCB Disc Nt 03-11-2021 0% Disc Nts     11/03/2021 Usd                       4,998,347
  FFCB Cons Fltg 01-14-2022                       4,465,000
  FFCB Cons Systemwide Bds Tr 10-07-2022                       4,235,297
  FFCB Disc Nt 03-17-2021 0% Disc Nts     17/03/2021 Usd                       4,179,248
  FFCB Cons Systemwide Bds Fltg 06-17-2021                       4,059,297
  FFCB Fltg 07-01-2021                       3,317,710
  FFCB Disc Nt 12-02-2021 0% Disc Nts     02/12/2021 Usd                       2,981,972
  FFCB Disc Nt 07-21-2021 0% Disc Nts     21/07/2021 Usd                       2,877,738
  FFCB Cons Fltg Rt 03-17-2021                       2,774,766
  FFCB Cons Systemwide Bds 1.69%  Fltg Rt   12-13-2021                       2,724,717
  FFCB Cons Systemwide Bds Dtd .12013% 12-28-2021                       2,599,873
  FFCB Cons Adj Rt 07-08-2021                       2,215,000
  FFCB Cons Systemwide Bds Var Rt 09-23-2021                       2,001,432
  FFCB Disc Nt 08-03-2021 0% Disc Nts     03/08/2021 Usd                       1,998,328
  FFCB Cons Fltg           01-14-2021                       1,965,000
  FFCB Cons Systemwide Bds Fltg Due 11-18-2021 Reg                       1,925,000
  FFCB Cons Systemwide Disc Nts 01-20-2021                       1,369,957
  FFCB Cons Systemwide Bds Floating Rate 11-12-2021                       1,146,048
  FFCB Fltg Rate 07-09-2021                       1,020,602
  FFCB Cons Systemwide Bds Fltg Due 10-08-2021 Reg                          745,732
  FHLMC Preassign 00099 1.125 08-12-2021                       1,992,155
         

 

 (continued)

40 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  FHLMC Tranche # Tr 00164 1.29 12-13-2021                       1,642,033
  FHLMC Multiclass Ser 3218 Cl As     09-15-2036                            90,241
  FHLMC Multiclass Ser 3147 Cl Ls     04-15-2036                            85,977
  FHLMC Multiclass Ser 4620 Cl Af         11-15-2042                            77,379
  FHLMC Multiclass Ser 3951 Cl Us Fltg    02-15-2040                            56,132
  FHLMC Fltg Ser 2007-34 Cl S    04-25-2037 Beo                            39,099
  FHLMC Gold Q50962 3.5% 09-01-2047                            34,308
  FHLMC Multiclass Ser 3218 Cl Sa Flg Rt Due 09-15-2036                              6,566
  FHLMC Multiclass Ser 3828 Cl Sy         02-15-2041 Fltg                              4,894
  FNMA Single Family Mortgage 2.5% 30     Years Settles March                     46,449,751
  FNMA Single Family Mortgage 2.5% 30     Years Settles January                     15,917,523
  FNMA 0%      03-15-2051                     13,356,550
  FNMA Single Family Mortgage 4% 30 Years Settles February                       7,257,508
  FNMA Single Family Mortgage 2% 15 Years Settles March                       6,248,982
  FNMA Fltg Due 04-15-2022 Reg                       5,786,070
  FNMA Fltg Due 04-07-2022 Reg                       5,095,642
  FNMA Single Family Mortgage 3.5% 30     Years Settles February                       4,562,034
  FNMA Single Family Mortgage 3% 30 Years Settles February                       3,041,035
  FNMA Fannie Mae 1.375% Due 10-07-2021   Reg 1.375 10-07-2021                       2,836,811
  FNMA Tranche 852 .7% Due                07-30-2025                       1,401,356
  FNMA Ser 19-28 Cl Fj Fltg  Due 06-25-2059 Reg                          743,489
  FNMA Sr 06-114 Cl Af Fltg  12-25-2036                          726,728
  FNMA Gtd Mtg Pool      #Aj1509 4% 09-01-2041 Beo                          698,191
  FNMA Pool #Fm1549 4% 09-01-2048 Beo                          391,943
  FNMA Pool #Ab0183 5% 02-01-2025 Beo                          348,298
  FNMA Pool #Ap1215 3.5% 06-01-2043 Beo                          326,472
  FNMA Pool #Ab1609 4% 10-01-2025 Beo                          211,051
  FNMA Pool #Bn0874 4% Due 11-01-2048 Reg                          208,677
  FNMA Gtd Mtg Pool      #Ak2411 4% Due 02-01-2042 Beo                          196,805
  FNMA Pool #Ab9280 4% 05-01-2043 Beo                          180,343
  FNMA Gtd Mtg Pool      #Ai2095 4% 05-01-2026 Beo                          178,829
  FNMA Pool #Bk8894 4% 10-01-2048 Beo                          165,806
  FNMA Pool #Ao1771 4% 05-01-2042 Beo                          123,624
  FNMA Pool #Ca2539 4% Due 10-01-2048                            95,597
  FNMA Fnr 2007-56 Gs Flt Rt          06-25-2037                            93,800
  FNMA Ser 2007-89 Cl Sd Fltg Rt      09-25-2037                            56,250
  FNMA Gtd Mtg Ah6737 4  2-1-2026                            55,020
  FNMA Gtd Mtg Pool      #Al5548 2.581% Due 05-01-2038 Beo                            41,083
  FNMA 00.000Fnra361225Be#Mbs Remic       Adjustable 12-25-2036                            33,105
  FNMA Gtd Mtg Pool      #Ah9391 4% 03-01-2026 Beo                            30,092
  FNMA Remic Tr 2011-60 Cl-Oa Prin    Only 08-25-2039 Reg                            27,841
  FNMA Ser 2007-32 Cl Sa Fltg Rt      04-25-2037                            23,201
  FNMA 2007-15 Cl Ai Var 03-25-2037                            14,470
  FNMA Remic Tr 2010-2 Cl-Gf Fltg         12-25-2049                              9,019
  FNMA Fr Cmo 25/03/37 Usd 03-25-2037                              6,335
         

 

 (continued)

41 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  FNMA Remic Tr 2009-87 Cl-Hs Var     Rate 11-25-2039                              5,410
  FNMA Gtd Mtg Pool #Al1378  6Due 02-01-2027 Beo                              5,325
  FNMA Ser 2007-4 Cl Sl Fltg Rt       02-25-2037                              4,504
  FNMA Ser 2011-40 Cl Sx Var Rt Due       11-25-2040 Beo                              1,300
  GNMA Ii Jumbos 2.5% 30 Years Settles    February                     21,131,250
  GNMA Ii Jumbos Tba 2.0% 30 Years 03-15-2051                     15,323,601
  GNMA Pool #Ma6222 5% 10-20-2049 Beo                       3,574,277
  GNMA Pool #Ma5764 4.5% 02-20-2049 Beo                       1,376,939
  GNMA Ii Jumbos 4.5% 30 Years Settles    February                          964,547
  GNMA Pool #Ma6656 Ser 2050 3% Due     05-20-2050 Reg                          805,169
  GNMA Pool #Ma5400 Ser 2048 5% Due     08-20-2048 Reg                          680,724
  GNMA Pool #Ma5265 4.5% 06-20-2048 Beo                          652,466
  GNMA Remic Passthru Ctf Sr 20-H14 Cl Fh 0.0% 08-20-2070                          635,715
  GNMA 2017-H05 Remic Passthru Ctf Cl Fc Fltg 02-20-2067                          539,611
  GNMA 2017-H14 Remic Passthru Ctf Cl Fg  06-20-2067                          503,195
  GNMA Ser 15-H08 Cls Fb Fltg             Due 03-20-2065                          411,673
  GNMA 2016-H17 Mtg Pass Thru Ctf Cl Mx Fc08-20-2066                          382,497
  GNMA Pool #Ak8998 3% 07-15-2045 Beo                          334,613
  GNMA Ser 2015-H20 Cl Fb Flt Rt  08-20-2065                          207,941
  GNMA Pool #Ab9437 3.5 Due               11-15-2042 Reg                          202,364
  GNMA Fltg Rt Ser 18-H15 Cl Fg           08-20-2068 Reg                          151,432
  GNMA Pool #Al1871 3% 01-15-2045 Beo                          133,230
  GNMA 2016-H13 Remic Pass Thru Secs Cl Ft05-20-2066                          123,725
  GNMA Pool #Am4137 3.5% 04-15-2045 Beo                          108,462
  GNMA Remic 2015-H30 Cl Fd Flt Rt        10-20-2065                            98,520
  GNMA Pool #Al5414 3.5% 02-15-2045 Beo                            98,326
  GNMA 2016-H20 Remic Passthru Ctf Cl Fg  08-20-2066                            94,301
  GNMA Pool #Ma5933 5% Due 05-20-2049   Reg                            89,289
  GNMA Remic  Ser 2013-H16 Cl Fa  Fltg 07-20-2063                            88,478
  GNMA Remic Sr 16-H09 Cl Fb  Fltg Rt 04-20-2066                            73,554
  United States Treas Bills 02-25-2021    Treas Bills                     77,592,434
  United States Treas Bills 01-12-2021    Treas Bills                     65,999,413
  United States Treas Bills 0% Tbill                               02-02-2021                     65,995,906
  United States Treas Bills 01-28-2021                     47,427,882
  United States Treas Bills 0%    02-23-2021                     35,711,900
  United States Treas Bills 01-07-2021                     33,999,915
  United States Treas Bills 0% T-Bill      01-26-2021                     26,469,232
  United States Treas Bills 0% Tbill      03-09-2021                     24,996,222
  United States Treas Bills 0% Tbill Due 06-24-2021 Reg                     24,790,281
  United States Treas Bills 0%    T-Bill 06-01-2021                     19,993,011
  United States Treas Bills 0% Tbill 12-30-2021Reg                     19,980,000
  United States Treas 0% T-Bills           01-19-2021                     19,199,680
  United States Treas Bills       12-02-2021 0.0% 02/12/2021                     19,159,991
  United States Treas Bills Due 0% 01-21-2021Reg                     18,217,612
  United States Treas Bills 0% Tbill      04-29-2021                     16,795,438
         

 

 (continued)

42 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  United States Treas Nts Infl Idx Dtd 04-15-2017 0.125% Due 04-15-2022                     15,601,647
  United States Treas Bills 0%    T-Bill 05-06-2021                     14,995,806
  United States Treas Bills 05-20-2021                     14,365,589
  United States 0% Treas Bills Due        02-09-2021                     11,403,987
  United States Treas Bills 0% Tbill       02-11-2021                       9,949,370
  United States Treasury Infl Indx 0.125%            01-15-2030                       9,945,073
  United States Treas Nts Infl Idx Dtd  0.625%  01-15-2026                       9,821,298
  United States Treas Infl Idx 0.25% 07-15-2029                       9,357,860
  United States Treas Infl Index Nts 0.500005%  01-15-2028                       8,711,562
  United States Tsy Infl Ix N/B 0.375%                   07-15-2027                       8,166,514
  United States Tsy Infl Ix N/B Us Gvt National 0.375%01-15-2027                       7,408,931
  United States Treas Infl Indexed Nts .125%  01-15-2023                       7,276,631
  United States Treas Nts .125% Due 07-15-2030                       7,062,334
  United States Treas Notes Nts   0.125% Infl Index 07-15-2026                       6,928,160
  United States Treas Bills 0% Tbill Due   11-04-2021 Reg                       6,494,292
  United States Treas Bonds       04-15-2028                       6,309,620
  United States Treas Nts Dtd 11/15/2016  2.0% 11-15-2026 Reg                       6,203,871
  United States Treas Bds Dtd 00271 1.125%Due 08-15-2040                       6,059,000
  United States Tsy Infl Ix N/B .125% Due 10-15-2024 Reg                       5,984,398
  United States Treas Bds 2.125 2-15-2041                       5,871,760
  United States Treas Bds 1.375           02-15-2044 Reg                       5,693,030
  United States Treas Nts Fltg Rt         07-31-2021                       5,005,784
  United States Treas Bills 0%            01-05-2021                       4,999,999
  United States Treas Bills Dtd 0% Tbill 03-02-2021                       4,999,358
  United States Treas Nts Infl Idx 0.625% 04-15-2023                       4,922,558
  United States Treas Infl Indexed Bonds 2.375 Due   01-15-2025 Beo                       4,906,592
  United States Bds Indx Lnkd     0.875% 02-15-2047                       4,895,129
  United States Treas Bills 0%    T-Bill 08-12-2021                       4,627,553
  United States Treas Infl Indexed Nts 0.75%  07-15-2028                       4,583,834
  United States Treas Nts                 0.5% 04-15-2024                       4,204,972
  United States Treas Bds Index Linked 2.5 Due       01-15-2029 Reg                       4,187,797
  United States Tsy Infl Ix Treas Bd 0.625 01-15-2024                       4,026,338
  United States Infl Indxd Treas Notes 0.25% Tb  01-15-25 Usd1000 A-2025                       3,914,315
  United States Treas Bills 0%            05-25-2021                       3,898,778
  United States Treas Notes       Inflation Index 0.125 Nts 07-15-2024                       3,874,403
  United States Treas Bonds 0.75  Deb Tips 02-15-2042                       3,870,686
  United States Wi 0% Treas Bills Due 04-22-2021                       3,799,088
  United States Treas Notes Infl Idx T-Bond .875% 01-15-2029                       3,635,197
  United States Treas Bds Index Linked    1.75 Due 01-15-2028 Reg                       3,495,377
  United States Treas Notes 2.0%   11-30-2022                       3,321,876
  United States Wi Treasury Sec. Frn Due                10-31-2021 Reg                       3,051,227
  United States Treas Bills 0%    04-01-2021 Reg                       2,999,420
  United States Treas Infl  Nts 0.375%  Dtd 07/15/2015  07-15-2025                       2,974,816
  United States Treas Bds 2.875%          05-15-2049 Reg                       2,969,516
  United States Tsy Infl Ix N/B 1%                       Tips 02-15-2048                       2,693,092
       

 

 

 (continued)

 

43 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  United States Tsy Infl Ix N/B  Treas Bonds 0.75%      02-15-2045                       2,551,342
  United States Treas Nts .125% Due       04-15-2025 Reg                       2,494,020
  United States Treasury N/B 2% Due 02-15-2050 Reg                       2,280,797
  United States Treas Bds 4.375 Due 05-15-2040 Reg                       2,276,484
  United States Treas Bds Tsy Infl Ix N/B 02-15-2046                       1,947,414
  United States Treas Nts Dtd 08/15/2019  1.625% Due 08-15-2029 Reg                       1,925,578
  United States Treasury Dtd 02/15/2010 02-15-2040                       1,716,027
  United States Treas Bds Tbond Fixed 3%   02-15-2049                       1,714,781
  United States Treas 2% Due 01-15-2021                       1,680,933
  United States Treas Bonds 0%    T-Bond 02-15-2050                       1,556,323
  United States Treasury N/B 2.375%  05-15-2029                       1,525,711
  United States Treas Bds Dtd 11/15/2020  1.625% 11-15-2050                       1,394,750
  United States Treas Bds Index Linked 2.00 Due      01-15-2026 Reg                       1,366,298
  United States Treas Bds 1.25% Due       05-15-2050                       1,270,063
  United States Treas Bonds 0.625% Tips Infl Idx 02-15-2043 Usd1000                       1,157,163
  United States Treas Infl Indexed Nts .125%  07-15-2022                          922,131
  United States Treas Nts Tips            .375 07-15-2023                          845,028
  United States Wi Treas Nts Fltg Rt         04-30-2021 Reg                          840,346
  United States Mf1 2020-Fl3 Ltd Sr Secd Nt Cl A Fltg 07-15-2035 Beo                          706,078
  United States Treasury N/B                         2.25% 11-15-2024                          678,677
  United States Treas Bonds 1.0%          02-15-2049                          640,778
  United States 2.5% Treas Nts 01-31-2024                          621,416
  United States Tsy Infl Ix N/B 0.125%                   01-15-2022                          620,615
  United States Treas Bds Inflation Index Linked 3.875% 04-15-2029                          506,583
  United States Treas Bds Treasury Bond   2.375% Due 11-15-2049 Reg                          469,891
  United States Treas Bds 3% Due          05-15-2047 Reg                          392,871
  United States Treas Bds 2.25% 08-15-2049                          343,324
  United States Tbond 1.75% 11-15-2029                          324,223
  United States Treas Infl Indexed Bonds 3.375 Due   04-15-2032 Ar12 Due 04-15-32 Reg                          241,310
  United States Treas Nts Dtd 604 2.375%  Due 08-15-2024 Reg                          215,555
  United States Treas 2.125% 11-30-2024                          214,586
  United States Treas Bds Dtd 08/15/2020  1.375% 08-15-2050                          187,313
  United States Treas Bds Index Linked Notes 2.375   Due 01-15-2027 Reg                            96,303
  United States Treas Nts 1.875% 08-31-2024                            10,603
  Argentina(Rep Of) Frn Snr 04/2022 Ars1                              2,314
  Australia (Cmnwlth) Idx/Lkd Snr          20/09/2025 Aud                          582,436
  Australia Index Linked                 Bnds 1.25% 21/02/2022                          470,327
  Brazil 0% T-Bill 01/04/21   Brl'Ltn'                       4,406,673
  Brazil 0% T-Bill 01/10/21   Brl'Ltn'                       1,511,558
  California St Pension Oblig      3.818% 02-15-2038 Beo Taxable                          552,330
  California St Pub Wks Fing Authlease Rev 6.091% 08-01-2022 Beo Taxable                          435,688
  California St 1.327%   07-01-2022 Beo Taxable                          401,208
  California St 1.477%   07-01-2023 Beo Taxable                          302,082
  California St 5.7% 11-01-2021 Beo       Taxable                          104,512
  Canada 4.25% Idx/Lkd 01/12/26  Cad                          325,344
         

 

 (continued)

44 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Government securities (continued)        
  France(Govt Of) Idx/Lkd Snr 01/03/2026  Eur1                       1,579,409
  France(Govt Of) Idx/Lkd Snr 25/07/2024  Eur1                          830,625
  France(Govt Of) Idx/Lkd Snr 25/07/2027  Eur1                          167,886
  Illinois St Taxable-Ser 1-Build Amer    6.63% Due 02-01-2035 Beo Taxable                          813,412
  Italy Idx/Lkd Snr 26/05/2025 Eur                       5,700,005
  Japan 0% T-Bill 08/02/2021 Jpy                       8,524,339
  Japan 0% T-Bill 22/03/2021 Jpy                       2,809,463
  Kuwait 3.5% Snr Mtn          20/03/2027 Usd                          683,250
  Mexico 4.75% Due 04-27-2032 Reg                          722,100
  Mexico Iss Usd 31Yrinsedol = A038P73 5% Due 04-27-2051 Reg                          498,000
  Mexico 4.5% Index Linked Bds22/11/35 Mxn100                          404,580
  Michigna St Univ Revs 6.173% 02-15-2050 Beo Taxable                          635,935
  New York St N Y City Hsg Dev Corp Mltifam  Mtg Rev 3.709 02-15-2048 Beotaxable                          743,722
  New York St Dorm Auth St Pers Income Taxrev 5.289% 03-15-2033 Beo Taxable                          626,880
  New Zealand 2% Idx/Lkd 20/09/25                       1,074,432
  Peru Bnds 8.2% 12/08/2026                          863,110
  Peru 6.15% Gtd 12/08/2032 Pen                          302,850
  Port Auth NY & NJ 4.458% 10-01-2062   Beo Taxable                          399,102
  Port Auth NY & NJ 3.287% Due          08-01-2069 Reg Taxable                          320,529
  Saudi Arabia 2.875% Snr Mtn 04/03/23 Usd                          629,016
  Saudi Arabia 2.375% Snr Mtn 26/10/21 Usd                          304,825
  Saudi Arabia 3.625% Snr Mtn 04/03/28 Usd                          224,484
  Small business Admin Gtd Dev Partn Ctf  5.12 Due 11-01-2027 Reg                          148,122
  Texas St Transn Commn St Hwy Fd Rev 5.028% 04-01-2026 Beo Taxable                          582,070
  West Virginia St Asset Backed .797 06-01-2021 Beo Taxable                          700,231
  West Virginia St Asset Backed 2.02 06-01-2027 Beo Taxable                          300,267
           
  Corporate debt instruments        
  1211 Ave Of The 3.9005% Due 08-10-2035                          222,916
  Abbvie Inc Abbvie Inc 3.2% 11-06-2022                          314,093
  Acadia Healthcare 5.625% Due 02-15-2023                            10,025
  Acadia Healthcare 6.5% Due 03-01-2024                          275,738
  Acrisure Llc 8.125% Due 02-15-2024                          100,578
  Acrisure Llc 9% Due 04-15-2025                          173,940
  Aecom 5.125% Due 03-15-2027                          382,814
  Aecom 5.875% Due 10-15-2024                          101,490
  Aflac Inc 6.45% Due 08-15-2040                          191,521
  Aircastle Ltd 5.125% Due 03-15-2021                          302,391
  Albertsons Cos Llc Fixed 5.75% Due      03-15-2025                            77,250
  Alcoa Inc 5.9% Due 02-01-2027                            92,089
  Alexandria Real 2.75% Due 12-15-2029                          434,834
  Alexandria Real 4% Due 01-15-2024                          220,110
  Alliance Res Oper 7.5% Due 05-01-2025                          182,750
  Allstate Corp 75% Due 12-15-2025                          402,021
  Ally Finl Inc 5.75% Due 11-20-2025                          151,351
         

 

 (continued)

 

45 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Ally Finl Inc 8% Due 11-01-2031                          562,194
  Altice Fing S A 7.5% Due 05-15-2026                          358,802
  Amc Networks Inc 4.75% Due 08-01-2025                          141,480
  Amc Networks Inc 4.75% Due 12-15-2022                          129,161
  Amerigas Partners 5.625% Due 05-20-2024                          141,153
  Amerigas Partners 5.75% Due 05-20-2027                            85,327
  Amern Axle & Mfg 6.875% Due 07-01-2028                            99,130
  Amern Intl Group 4.375% Due 01-15-2055                          899,840
  Anchorage Cap Clo 16 Ltd Sr Secd Nt Cla Fltg Rate 1.60069% 10-20-2031                          399,074
  Anheuser Busch Inbev Worldwide Inc 4.15% 01-23-2025                          569,345
  Antero Midstream 5.75% Due 01-15-2028                          105,622
  Apache Corp 4.75% 04-15-2043                          233,295
  Apache Corp 5.1% Due 09-01-2040                            53,313
  Apache Corp 5.25% Due 02-01-2042                            32,335
  Apache Corp Fixed 4.25% Due 01-15-2044                            59,198
  Arches Buyer Inc 6.125% Due 12-01-2028                            64,027
  Arches Buyer Inc Initial Term Loan  12-06-2027 Beo                          205,103
  Archrock Partners 6.875% Due 04-01-2027                          110,854
  Arconic Inc 5.95% Due 02-01-2037                            92,785
  Ardent Health Partners, Llc Tl 06-16-2025 Beo                          359,967
  Asset Backed Fdg Corp 2004-Opt3 Asset   Bkd Ctf Cl A-4 11-25-2033 Reg                          351,381
  Ast Backed Fdg Fltg Rt .768% Due        04-25-2034                              1,100
  Athenahealth. Inc Tlb Due 02-11-2026 Beo                          146,581
  Ats Automation 4.125% Due 12-15-2028                          154,660
  Avalonbay Cmntys Inc Fixed 3.3%         06-01-2029 Reg                          113,697
  Aviation Cap Group Fltg Rt 1.1405% Due  06-01-2021                          298,155
  Aviation Cap Group Sr Nt Fltg 144A  Due 07-30-2021 Beo                          594,382
  Axalta Coating Sys Axalta Coating Sys 4.75% Due 06-15-2027                          159,563
  B A T Cap Corp Fixed 3.557% Due         08-15-2027                          222,696
  Bacardi Ltd 4.45% Due 05-15-2025                       1,116,356
  Baidu Inc 1.72% Due 04-09-2026                          202,675
  Baidu Inc 4.875% 11-14-2028                       1,199,990
  Banc Of America Merrill Lynch Large Lo  Series 2015-200P Class A 3.218% 4-14-33                          758,396
  Banco Santander Sa Frns 04-12-2023                          202,008
  Bank Amer Corp 3.419% 12-20-2028                          328,697
  Bank Amer Corp 5.875% Due 12-31-2049                            90,400
  Bank Amer Corp Bds 4 04-01-2024                          360,770
  Bank Amer Corp Fltg Rt 1.486% Due       05-19-2024                          307,018
  Bank Amer Corp Medium Term Sr Nt Ser M  03-05-2024                          201,515
  Banque Federative Fltg Rt 3.5515% Due   07-20-2023                          203,304
  Barclays Bk Plc Barclays Bk Plc 7.625 Due 11-21-2022                          325,938
  Barclays Plc 2.852% Due 05-07-2026                          429,576
  Barclays Plc Plc 3.684% Due 01-10-2023                          206,130
  Barclays Plc 4.375% Due 01-12-2026                       1,037,336
  Barclays Plc Fixed 6.125% Due 12-31-2049                          215,500
         

 

 (continued)

46 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Barclays Plc Fltg Rt 5.088% Due         06-20-2030                          239,917
  Barry Callebaut Nv 5.5% Due 15/06/2023  Usd                          327,000
  Bayer Us Fin Ii 4.375% Due 12-15-2028                          705,730
  Bayer Us Fin Ii Llc Gtd Nt Fltg Rate    144A Due 12-15-2023/06-25-2018 Beo                          303,085
  Bds 2020-Fl6 Ltd Bds 2020-Fl6 Ltd / Bds 2020-Fl6 Llc     1.40738% 09-15-2035                          903,812
  Bear Stearns Asset Backed Secs I Tr 2006-He8 Cl Ii-1A-3 10-25-2036 Reg                          456,315
  Benchmark 2019-B15 Mtg Tr Coml Mtg      19-B15  Aab  2.85%  12-15-2072                          555,336
  Bk Nova Scotia B C Fixed 4.9% Due       12-31-2049                          324,801
  Blue Cube Spinco Blue Cube Spinco 10% Due 10-15-2025                          236,101
  Bnp Paribas Sr Non Var Rt 2.819% Due    11-19-2025                          639,554
  Bnp Paribas Bnds 4.25 Due 10-15-2024                          675,567
  Boeing Co Fixed 5.15% Due 05-01-2030                          726,151
  Boxer Parent Company Inc. Boxer Parent Company Inc. Due 10-02-2025Beo                          131,275
  Boyd Gaming Corp 6.375% Due 04-01-2026                            62,329
  Boyd Gaming Corp 8.625% Due 06-01-2025                            94,536
  Brixmor Oper Brixmor Oper 4.125% Due 05-15-2029                          690,189
  Broadcom Corp 3.5% 01-15-2028                          220,442
  Broadcom Corp Caymn Fi 3.875% 01-15-2027                          336,692
  Broadcom Corp 2.25% Due 11-15-2023 Reg                          417,754
  Broadcom Corp 4.25% Due 04-15-2026 Reg                          343,571
  Broadcom Corp 4.3% Due 11-15-2032 Beo                          474,196
  Brookfield Fin Inc 4.85%                03-29-2029                          857,527
  Bstn Scientific 2.65% Due 06-01-2030                          642,662
  Bstn Scientific 3.75% Due 03-01-2026                          226,968
  Buckeye Partners L 3.95% Due 12-01-2026                          138,781
  Buckeye Partners L 4.5% Due 03-01-2028                          257,500
  Buckeye Partners L 5.6% Due 10-15-2044                            69,210
  Buckeye Partners L 5.85% Due 11-15-2043                            34,438
  Bway Holding Company Bway Holding Co Tlbsr Secd 1St Lien Due 04-03-2024 Beo                          250,700
  Caesars Resort Collection Llc Term Loan Due 06-19-2025 Beo                          200,062
  Campbell Soup Co 2.375% Due             04-24-2030/04-24-2020 Reg                          316,893
  Campbell Soup Co Fltg Rt .8465% Due     03-15-2021                          200,179
  Care Cap Pptys Lp 5.125% Due 08-15-2026                          122,641
  Cd Commercial Mort Tr Ser 2018-Cd7 Cl Asb 4.213%  08-15-2051                          812,753
  Cdk Global Inc Fixed 4.5% Due 10-15-2024                            57,135
  Cdk Global Inc Fixed 5.875% Due         06-15-2026                          306,334
  Cdn Nat Res Ltd 3.85% Due 06-01-2027                          785,433
  Cdw Llc / Cdw Fin 4.125% Due 05-01-2025                          201,913
  Cedar Fair L P 6.5% Due 10-01-2028                          187,601
  Centene Corp Del 3% Due 10-15-2030                       1,093,817
  Centene Corp Del 4.75% Due 01-15-2025   Reg                            15,393
  Centurylink Inc 5.625% Due 04-01-2025                              6,473
  Centurylink Inc 6.75% Due 12-01-2023                          310,736
  Centy Tel 6.875% Due 01-15-2028                          144,765
  Change Healthcare 5.75% Due 03-01-2025                          757,860
       

 

 

 (continued)

 

47 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Cheniere Corpus Christi Hldgs Llc 5.125% 06-30-2027                            88,723
  Cheniere Energy 5.625% Due 10-01-2026                            78,000
  Cheniere Energy Fixed 5.25% Due         10-01-2025                          189,856
  Citigroup Coml Mtg 3.608% Due 11-10-2048                          628,288
  Citigroup Coml Mtg Tr 2020-Wss Mtg      Passthru Ctf Cl A 144A 2.0765 02-15-2039                       1,176,514
  Citigroup Inc Fltg Rt .776% Due         10-30-2024                          402,595
  Citigroup Inc Global Sr Nt Fltg Due     10-27-2022/09-27-2022 Reg                          302,189
  Clev Elec Illum Co 4.55% Due 11-15-2030                          115,290
  Cmo Bear Stearns Alt-A Tr 2006-8 Mtg    Passthru Ctf Cl Iii-A-1 01-25-2037 Reg                          240,272
  Cmo Bear Stearns Arm Tr Ser 2004-10 Cl  I2A5 2.94036% Due 01-25-2035 Beo                            56,034
  Cmo Benchmark 2019-B14 Mtg Tr Ser 19-B14Cls Asb 2.9571% Due 12-15-2061 Reg                          997,841
  Cmo Benchmark Ser 19-B14 Cl A5 3.0486% Due 12-15-2061                          449,141
  Cmo Citigroup Coml Mtg Mtg Tr 2019-Gc43 Ser 19-Gc43 Cls Aab 2.8841% 11-10-2052                          988,378
  Cmo Comm 2018-Cor3 Mtg Fltg Rt 4.228% Due 05-10-2051                          593,529
  Cmo Cwmbs Inc Ser 2004-Hyb2 Cl 6-A Flt  Rt Due 07-20-2034 Beo                            18,355
  Cmo Exantas Capital Corp Fltg Rt        04-15-2036                          389,486
  Cmo Gs Mtg Secs Corp 2004-Cw1 Cl Iia-1  6% Due 04-01-2034 Reg                          134,912
  Cmo Gs Mtg Secs Corp 2005-Ar7 Mtg       Passthru Ctf Cl 2A1 Due 11-25-2035 Reg                            13,725
  Cmo Gs Mtg Secs Corp Ser 2005-Ar6 Cl 1A1Due 09-25-2035 Reg                            18,897
  Cmo Harborview Mtg Ln Ser 05-9 Cl B1 Fltg 06-20-2035                          367,232
  Cmo Harborview Mtg Ln Tr 2004-1 Passthructf Cl 2-A 4.6186 04-19-2034 Reg                            12,362
  Cmo Harborview Mtg Ln Tr 2005-11 Mtg    Passthru Ctf 2-A1A Due 08-19-2045 Reg                          190,917
  Cmo Jpmbb Coml Mtg Secs Tr 2015-C31 Cl  Asb 3.5395% Due 08-15-2048 Beo                          582,246
  Cmo Jpmbb Coml Mtg Secs Tr Ser 2015-C32 Cl Asb 3.3582% 11-15-2048                          553,727
  Cmo Jpmbb Coml Mtg Secs Tr 2016-C2 Mtg  Pass Thru Ctf Cl A-Sb 2.9542 06-15-2049                          634,947
  Cmo Jpmbb Coml Mtg Secs Tr Sr 2019-Cor6 Cl Asb 2.9815% 04-13-2029                       1,005,327
  Cmo Merrill Lynch Mtg Invs Inc Iii-A Due 05-25-2033                              6,559
  Cmo Merrill Lynch Mtg Invs Inc 2004-D   Cl A1 09-25-2029 Reg                            21,645
  Cmo Merrill Lynch Mtg Invs Inc Ser 2003-C Cl A1 6-25-28                              2,739
  Cmo Structured Asset Mtg Invts Ii Inc Ser 04-Ar2  Cl Ia Var 05-19-2034 Reg                            33,924
  Cmo Structured Asset Secs Corp 2003-40A Cl 3-A1 Due 01-25-2034 Beo                            63,142
  Cmo Structured Ast Mtg Invts Ii Inc Due 07-19-2035 Reg                              9,860
  Cmo Ubs Coml Mtg Tr 2018-C12 Mtg Ser 2018-C12 Cls Asb 4.1945% 07-15-2051                          808,544
  Cmo Ubs Coml Mtg Tr Ser-2018-C11 Cl-Asb 4.1186% 07-15-2051 Reg                          458,183
  Cmo Wa Mut Mtg Secs Corp 2005-Ar1 Cl    A-1A Var Due 12-25-2044 Reg                            31,219
  Cmo Wamu Mtg Pass-Thru Ctfs 2005-Ar8 Ctfcl 2-A-1A Due 07-25-2045 Reg                            85,454
  Cmo Wamu Mtg Pass-Thru Ctfs Ser         2005-Ar13 Cl A-1A1 Flt 10-25-45                          237,727
  Cmo Wells Fargo Coml Mtg Tr  Ser 2015-Nxs4 Mtg Ctf Cl Asb 3.522% 12/15/2048                          628,318
  Cmo Wells Fargo Coml Mtg Tr 2019-C54     2.832% Due  12-15-2052 Reg                          560,907
  Cmo Wells Fargo Coml Mtg Tr 2Ser 20-C56 Cl A5 2.606% Due 06-15-2053 Reg                       1,288,577
  Cmo Wells Fargo Coml Mtg Tr Ser 2019-C53 Cl Asb 2.964% 10-15-2052                          997,734
  Cmo Wells Fargo Coml Mtg Tr Ser-2018-C45 Cl-Asb 4.147% 06-15-2051 Reg                          689,868
  Cnx Midstream 6.5% Due 03-15-2026                          137,363
  Cnx Res Corp 7.25% Due 03-14-2027                          217,210
  Colt 2020-1R Mtg 1.255% Due 09-25-2065                          507,018
         

 

 (continued)

 

48 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Columbia / Hca 7.69% Due 06-15-2025                            14,400
  Columbia / Hca Healthcare Corp Medium   Term Book Entry # Tr 15 7.58 09-15-2025                          118,090
  Columbia / Hca Healthcare Corp 8.36 Deb   Due 4-15-2024 Reg Opt Put Pay On 4-**Put                          212,940
  Commscope Inc 7.125% Due 07-01-2028                            30,885
  Compass Group 8% Due 05-01-2026                          453,600
  Conagra Brands Inc 4.3% 05-01-2024                          335,743
  Connect Finco Sarl/Connect U S Finco L 6.75% Due 10-01-2026                          467,505
  Continental Airls Pass Thru Tr 2007-1A   5.983% Due 04-19-2023                          104,984
  Contl Res Inc 4.9% Due 06-01-2044                            93,956
  Corp Andina De Fomento 3.95% 15/10/2021                          238,567
  Covanta Hldg Corp 5.0% Due 09-01-2030   Reg                          102,714
  Covanta Hldg Corp 5.875% Due 07-01-2025                          114,400
  Cp Atlas Buyer Inc Inc 7% Due 12-01-2028                          128,960
  Cr Agricole S A 1.907% Due 06-16-2026                          414,883
  Cr Agricole S A 3.25% Due 10-04-2024                          488,150
  Cr Suisse 6.5 Due 08-08-2023                          225,728
  Cr Suisse Group 3.75% Due 03-26-2025                          277,552
  Credit Agricole S A London Brh Sr Non-Pftranche # Tr 6 Var Rt Due 04-24-2023                          252,912
  Csc Hldgs Llc 4.125% Due 12-01-2030                          209,120
  Csc Hldgs Llc 6.5% Due 02-01-2029                          225,810
  Csc Hldgs Llc 6.75% Due 11-15-2021                          229,900
  Cvs Health Corp 3.7% Due 03-09-2023                            87,725
  Cvs Health Corp 3.875% Due 07-20-2025                          339,753
  Daimler Fin North Amer Llc Corp Fltg 144A 02-15-2022                          806,018
  Daimler Fin North Amer Llc Corp Due          02-12-2021 Beo                          200,066
  Daimler Fin North Amer Llc Corp Nt Fltg      Due 05-04-2021 Beo                          700,998
  Danske Bk A/S 1.621% Due 09-11-2026                          401,806
  Davita Inc 4.625% Due 06-01-2030                          215,434
  Deutsche Bk Ag N Y 3.3% 11-16-2022                          417,136
  Deutsche Bk Ag N Y 3.95% Due 02-27-2023                          106,248
  Deutsche Bk Ag N Y Fixed 4.25% Due      10-14-2021                          922,884
  Deutsche Bk Ag N Y Fltg Rt 2.222% Due   09-18-2024                          720,117
  Deutsche Bk Ag N Y Fltg Rt 3.961% Due   11-26-2025                          546,420
  Deutsche Bk Ag N Y Branch 5.0%          02-14-2022                          313,659
  Deutsche Bk Ag N Y Brh Fltg             02-04-2021                          200,109
  Dexia Cr Loc Loc Nt 144A 2.5% Due 01-25-2021Beo                          300,372
  Diamond 1 Fin Corp 7.125% Due 06-15-2024                       1,228,993
  Diebold Nixdorf 9.375% Due 07-15-2025                          308,000
  Dish Dbs Corp 5% Due 03-15-2023                              6,195
  Dish Dbs Corp 5.875%                    11-15-2024                              2,097
  Dish Dbs Corp 6.75% Due 06-01-2021                          290,760
  Dish Dbs Corp 7.75% Due 07-01-2026                          619,366
  Diversified 9.75% Due 06-15-2025                            51,126
  Duke Energy Corp 2.65% Due 09-01-2026                          544,799
  Ecmc Group Student Ln Tr 2020-2 Stud Ln Nt Cl A Fltg Rate 1.26763% 11-25-2069                          957,867
         

 

 (continued)

 

49 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Ecopetrol S A 4.125% Due 01-16-2025                          652,506
  Elanco Animal Health Inc Corp 4.9%      08-28-2028                          243,080
  Eldorado Resorts 6.25% Due 07-01-2025                          388,725
  Enbridge Inc Fltg 02-18-2022                          900,461
  Encompass Hlth 4.625% Due 04-01-2031                            42,800
  Energy Transfer 4.05% Due 03-15-2025                          877,603
  Enpro Inds Inc Corp 5.75% 10-15-2026                          164,688
  Epr Pptys 4.75% Due 12-15-2026                          202,080
  Eqt Corp 3.9% Due 10-01-2027                          238,428
  Eqt Corporation 5.0% Due 01-15-2029 Beo                          251,982
  Eqt Midstream Partners L P 6.5%Ue       07-15-2048                          198,640
  Erp Oper Ltd 3% Due 07-01-2029                          111,259
  Euro Galaxy Clo Bv 16-5A Clo 10/11/2030 16-5A Clo 10/11/2030                          367,268
  Evergy Metro Inc 2.25% Due 06-01-2030                          529,733
  Eversource Energy Fixed .8% Due         08-15-2025                          399,224
  Fce Bank Plc Mtn 1.875% 24/06/2021                          368,212
  Fed Rlty Invt Tr 3.95% Due 01-15-2024                          326,354
  Fid Natl Finl Inc 3.4% Due 06-15-2030                          768,720
  Firstenergy Corp 4.25 Due 03-15-2023                          211,196
  Flex Acqstn Co Inc 7.875% Due 07-15-2026                            78,750
  Flex Acquisition Co Inc (Aka Novolex) Tlsr Secd 1St Lien Due 12-29-2023 Beo                            85,934
  Flex Ltd 4.875% Due 05-12-2030                          721,410
  Ford Motor Credit Co Llc 4.063% Due     11-01-2024                          352,992
  Ford Mtr Co Del 5.291% Due 12-08-2046                          110,770
  Ford Mtr Co Del 9% Due 04-22-2025                          185,128
  Ford Mtr Co Del 9.625% Due 04-22-2030                          465,713
  Ford Mtr Co Del Nt 4.75 01-15-2043                            40,800
  Ford Mtr Cr Co Llc 3.47% 04-05-2021                          400,000
  Ford Mtr Cr Co Llc 3.81% Due 01-09-2024                          281,875
  Ford Mtr Cr Co Llc 4.0% Due 11-13-2030  Beo                          364,350
  Ford Mtr Cr Co Llc 4.125% Due 08-17-2027                          322,630
  Ford Mtr Cr Co Llc 5.125% Due 06-16-2025                          217,460
  Ford Mtr Cr Co Llc 5.596% 01-07-2022                          310,104
  Ford Mtr Cr Co Llc Fixed 3.35% Due      11-01-2022                          305,250
  Ford Mtr Cr Co Llc Nt Fltg Due          02-15-2023                          193,006
  Forterra Fin Llc 6.5% Due 07-15-2025                          156,950
  Freeport-Mcmoran 5.45% Due 03-15-2043                          201,690
  Freeport-Mcmoran Fixed 4.375% Due       08-01-2028                          138,125
  Freeport-Mcmoran Fixed 4.625% Due       08-01-2030                            74,630
  Freeport-Mcmoran Inc 5.4% Due           11-14-2034/11-14-2014 Reg                            83,834
  Garda World Security Corporation Term   Loan B 10-30-2026 Beo                          240,937
  Gatx Corp Fltg 11-05-2021                          300,684
  General Elec Co 4.25% Due 05-01-2040                          354,662
  General Mtrs Finl Co Inc 3.55%          07-08-2022 Reg                          104,296
  General Mtrs Finl Co Inc 3.55% Due      04-09-2021 Reg                          403,097
         

 

 (continued)

 

50 -

 

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  General Mtrs Finl Co Inc Sr Nt Fltg Ratedue 11-17-2023 Reg                          400,799
  Genesis Energy L P 7.75% Due 02-01-2028                          306,400
  Genesis Energy L P 8% Due 01-15-2027                          180,216
  Gfl Environmental 8.5% Due 05-01-2027                          188,700
  Global Med 6.5% Due 10-01-2025                          257,070
  Goldman Sachs 5.75% Due 01-24-2022                          634,197
  Goldman Sachs Group Inc Nt Fltg         10-31-2022                          301,222
  Goldman Sachs Group Inc Fltg Var  Rt Due 02-23-2023                          201,863
  Goodyear Tire 5.125% Due 11-15-2023                          150,188
  Goodyear Tire 9.5% Due 05-31-2025                          467,944
  Greystar Real 5.75% 12-01-2025                          132,470
  Grinding Media Inc 7.375% Due 12-15-2023                          350,175
  Gs Mtg Secs Ser 2014-Gc26 Cl A-Ab 3.365% 3.365%  11-10-2047                          500,196
  Harley Davidson Fltg Rt 1.16763% Due    03-02-2021                          200,037
  Hca Inc 3.5% Due 09-01-2030                          224,204
  Hca Inc 5.375% Due 09-01-2026                          316,085
  Hca Inc 5.625% Due 09-01-2028                          542,800
  Hca Inc 5.875% Due 02-15-2026                            40,250
  Healthsouth Corp Healthsouth Corp 5.75% Due 09-15-2025                            62,025
  Hertz Fleet Lease 3.23% Due 05-10-2032                          192,320
  Hewlett Packard Fltg Rt .95838% Due     10-05-2021                          300,043
  Hillenbrand Inc 5.75% Due 06-15-2025                            54,000
  Homeward 1.657% Due 05-25-2065                          359,342
  Hospitality Pptys 4.35% Due 10-01-2024                            67,150
  Hospitality Pptys 4.5% Due 03-15-2025                            34,475
  Hospitality Pptys 4.95% Due 02-15-2027                          201,000
  Hospitality Pptys Tr 4.65 Due           03-15-2024 Reg                            35,640
  Host Hotels Fixed 3.5% Due 09-15-2030                          217,030
  Howmet Aerospace Fixed 6.875% Due       05-01-2025                            76,050
  Hsbc Hldgs Plc 4.3% Due 03-08-2026                          345,646
  Hsbc Hldgs Plc 4.583% 06-19-2029                          236,610
  Hsbc Hldgs Plc Fltg Rt 4.292% Due       09-12-2026                       1,139,680
  Hsbc Hldgs Plc 3.803%                   03-11-2025                          218,365
  Hsbc(Ryanair Holdings Plc) P-Note       29/10/2021                       6,059,363
  Hub Intl Ltd 7% Due 05-01-2026                          166,281
  Hughes Satellite 5.25% Due 08-01-2026                          266,004
  Hughes Satellite 6.625% Due 08-01-2026                          254,581
  Hughes Satellite 7.625% Due 06-15-2021                          560,675
  Hyatt Hotels Corp 5.375% Due 04-23-2025                            56,506
  Hyatt Hotels Corp 5.75% Due 04-23-2030                          172,100
  Hyatt Hotels Corp Fltg Rt 3.1905% Due   09-01-2022                          303,403
  Informatica Llc Term Loan 02-14-2025                            69,071
  Ing Groep N V 6.5% Due 12-31-2049                          329,340
  Ing Groep N V Sr Nt Fltg Rate Due       10-02-2023 Reg                          203,043
  Ingles Mkts Inc 5.75% Due 06-15-2023                            86,860
         

 

 (continued)

 

51 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  International Game Technology Plc 6.25% Due 02-15-2022 Beo                          474,945
  Irb Holding Corporation Fltg Rt Tbl              11-19-2027                          234,073
  J P Morgan Mtg Tr Fltg Rt 3.11449% Due  06-25-2035                            10,799
  Jp Morgan Mtg Acqstn Corp Acqstn Corp Fr Cmo        25/08/2036 Usd1000 'Av-5' 08-25-2036 Reg                          565,583
  Jpmdb Coml Mtg Secs Tr 2020-Cor7 Coml   Mtg Passthru Ctf Cl 2.0508% 05-13-2053                          954,464
  Jpmorgan Chase & Co 3.2% Due 01-25-2023                          317,584
  Jpmorgan Chase & Co 4.6% Due 12-31-2049                       1,032,500
  Jpmorgan Chase & Co Fltg Rt 1.514% Due     06-01-2024                          410,678
  Jyske Realkredit 1% Snr 01/10/2050      Dkk0.01                          696,648
  Kbr Inc 4.75% Due 09-30-2028                          195,990
  Kennedy Wilson Inc 5.875% Due 04-01-2024                          329,875
  Kraft Heinz Foods 3.75% Due 04-01-2030                          101,533
  Kraft Heinz Foods 3.95% Due 07-15-2025                          483,458
  Kraft Heinz Foods 4.375% Due 06-01-2046                          181,767
  Kraft Heinz Foods 5.2% Due 07-15-2045                          208,085
  Kronos Acqstn 5% Due 12-31-2026                            31,296
  L Brands Inc 6.875% Due 11-01-2035                          270,523
  Labl Escr Issuer 10.5% Due 07-15-2027                            87,848
  Ladder Cap Fin 5.875% Due 08-01-2021                            44,000
  Las Vegas Sands 3.2% Due 08-08-2024                          317,752
  Leidos Inc 2.95% Due 05-15-2023                          105,211
  Lifepoint Hlth Inc 9.75% Due 12-01-2026                          225,500
  Live Nation Entmt 5.625% Due 03-15-2026                            82,200
  Lloyds Bkg Group Fltg Rt 2.907% Due     11-07-2023                          208,948
  Lower Cadence Holdings Llc Term Loan Due 05-22-2026 Beo                            76,976
  M/I Homes Inc 4.95% Due 02-01-2028                          139,729
  M/I Homes Inc Fixed 5.625% 08-01-2025                            93,600
  Magnolia Oil & Gas 6% Due 08-01-2026                          152,625
  Marriott Intl Inc 4% Due 04-15-2028                          663,716
  Marriott Intl Inc New 4.625% Due        06-15-2030 Reg                          144,338
  Marriott Intl Inc New 5.75% Due         05-01-2025 Reg                          182,473
  Marriott Own Resorts Inc / Ilg Llc Sr Nt6.5% 09-15-2026                          276,925
  Meredith Corp Fixed 6.875%              02-01-2026                          190,125
  Meritor Inc 6.25% Due 06-01-2025                            95,040
  Methanex Corp 5.125%                    10-15-2027                          169,553
  Methanex Corp 5.25%                     12-15-2029                            44,433
  Mfa 2020-Nqm2 Tr Fltg Rt 1.381% Due     04-25-2065                          660,456
  Mgm Resorts Intl 4.75% Due 10-15-2028                          302,267
  Mgm Resorts Intl 5.5% Due 04-15-2027                          177,206
  Mgm Resorts Intl 6% Due 03-15-2023                          121,334
  Mgm Resorts Intl 7.75% Due 03-15-2022                          517,590
  Michaels Stores 4.75% Due 10-01-2027                          284,950
  Microchip Tech Inc 4.25% Due 09-01-2025                          195,720
  Microchip Tech Inc Fixed 3.922% Due     06-01-2021                          304,260
  Milano Assicurazioni Term Loan B Due    10-01-2027 Beo                          119,800
         
 (continued)

 

52 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Mizuho Finl Gp Frn Snr 07/2023 Aud250000                          234,227
  Mizuho Finl Group Fltg Rt 1.21438% Due  07-10-2024                          404,252
  Mizuho Finl Group Inc .849% Due         09-08-2024/09-08-2023 Reg                          402,437
  Mizuho Finl Group Inc Sr Nt Fltg Rate   03-05-2023                          201,494
  Molina Healthcare 4.375% Due 06-15-2028                          139,983
  Molina Healthcare 5.375% Due 11-15-2022                          142,931
  Mpt Oper 3.5% Due 03-15-2031                          328,335
  Murphy Oil Corp 5.125 12-01-2042                            52,875
  Murphy Oil Corp 5.75% Due 08-15-2025                          166,320
  Mylan Inc Formerly 3.125% Due 01-15-2023                          524,826
  Nationstar Mtg 5.5% Due 08-15-2028                          119,700
  Nationwide Bldg Fltg Rt 4.363% Due      08-01-2024                          434,661
  Natwest Group Plc Fxd/Fltg Srnt         4.269% 03-22-2025                          553,146
  Natwest Group Plc Sr Glbl Coco          4.519% 06-25-2024                          327,543
  Natwest Group Plc Sr Nt 3.875% Due      09-12-2023 Reg                          217,007
  Navient Corp 5.875% Due 10-25-2024                            19,125
  Navient Corp 6.625% Due 07-26-2021                              8,170
  Navient Corp 6.75% Due 06-25-2025                            32,625
  Navient Corp 7.25% Due 09-25-2023                          177,549
  Navient Private Ed Ln Tr 2020-I 1.10738%04-15-2069                          600,039
  Navistar Inc Term Loan Senior Secured  11-06-2024 Beo                          283,421
  Ncl Corp Ltd 5.875% Due 03-15-2026                          230,349
  Ncr Corp New 5.25% Due 10-01-2030                            98,670
  Ncr Corp New 8.125% Due 04-15-2025                          318,501
  Netflix Inc 5.5% Due 02-15-2022                          209,250
  Netflix Inc Fixed 6.37%                 05-15-2029                          324,805
  Newell Brands Inc 4.875% Due 06-01-2025                          143,039
  Newmark Group Inc Fixed 6.125% Due      11-15-2023                          190,130
  Nextera Energy Cap 2.8% Due 01-15-2023                          104,621
  Ngl Energy Partners Lp Ngl Energy 7.5%   11-01-2023                          148,706
  Nielsen Fin Llc 5.875% Due 10-01-2030                          108,600
  Nissan Mtr Accep Corp Nt Fltg Rate 144A 09-28-2022                       1,189,541
  Nordea Realkredit 1% Cvd Bds 01/10/50   Dkk0.01                          665,806
  Novastar Mtg Fdg Fdg Tr Ser 06-1 Cl A1A Fltg  05-25-2036                          103,751
  Nrg Energy Inc 4.45% Due 06-15-2029                              5,798
  Nrg Energy Inc 5.75%                    01-15-2028                          139,840
  Nrg Energy Inc 7.25% Due 05-15-2026                          301,730
  Nustar Logistics L P 5.75% Due          10-01-2025 Beo                          190,635
  Nykredit Realkredi 1% Snr 01/10/2050    Dkk0.01                       1,931,872
  Occidental Pete 4.2% Due 03-15-2048                            71,720
  Occidental Pete 4.4% Due 04-15-2046                          225,709
  Occidental Pete 6.125% Due 01-01-2031                            82,405
  Occidental Pete 6.2% Due 03-15-2040                          178,200
  Occidental Pete 8.5% Due 07-15-2027                          189,264
  Occidental Pete 8.875% Due 07-15-2030                          298,133
         

 

 (continued)

 

53 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Occidental Pete Corp  Fltg              08-15-2022                          294,000
  Occidental Pete Corp 6.625% Due         09-01-2030 Reg                          175,892
  Occidental Pete Corp Sr Nt 6.45%        09-15-2036                            57,585
  Occidental Pete Fixed 5.875% Due        09-01-2025                            30,885
  Occidental Pete Fixed 6.375% Due        09-01-2028                          169,855
  Occidental Petroleum Corp 3.5% Due      08-15-2029/08-08-2019 Reg                          187,610
  Occidental Petroleum Corp 4.3% Due      08-15-2039                          192,779
  Olin Corp 9.5% Due 06-01-2025                          122,456
  Oneok Inc New 4.55% Due 07-15-2028                          228,876
  Pac Gas & Elec Co 3.5% Due 08-01-2050                          496,956
  Pac Gas & Elec Co Fixed 2.1% Due        08-01-2027                          101,762
  Pac Gas & Elec Co Fixed 3.45% Due       07-01-2025                          108,418
  Pac Gas & Elec Co Fixed 3.5% Due        06-15-2025                          108,192
  Pac Gas & Elec Co Fltg Rt 1.57263% Due  11-15-2021                          400,219
  Pac Gas & Elec Co 2.5% Due          02-01-2031/06-19-2020 Reg                          301,095
  Pac Gas & Elec Co 3.25%             06-15-2023                          417,490
  Palmer Square 20-2 Frn Clo 02/2030 Eur  'A'                          983,734
  Palmer Square E Frn Clo 01/2030 Eur 'A'                          489,257
  Penske Automotive Group Inc 3.5% Due    09-01-2025 Reg                          138,210
  Perrigo Fin Unltd Fixed 3.15% Due       06-15-2030                          534,378
  Petrobras Global Finance 5.999% 01-27-2028                          433,089
  Petroleos Mexicanos 6.49%                01-23-2027                          211,200
  Phillips 66 .9% Due 02-15-2024                          400,969
  Phillips 66 Sr Nt Fltg 02-26-2021                          200,023
  Picasso Fin Sub 6.125% Due 06-15-2025                          133,750
  Plains All Amern 3.6% Due 11-01-2024                          639,448
  Playtika Holding Corp. Term B Loan      12-10-2024                          283,022
  Polyone Corp 5.75% Due 05-15-2025                          129,625
  Presidio Hldgs Inc 8.25% Due 02-01-2028                          203,963
  Prologis L P 2.25% Due                  04-15-2030                          107,158
  Protective Life 1.17% Due 07-15-2025                          711,731
  Prudential Plc 3.125% Due 04-14-2030                          226,747
  Public Svc Enterprise Group Inc 2.65%    11-15-2022                          312,678
  Puget Energy Inc New 4.1%               06-15-2030                          678,438
  Pulte Homes Inc 6.375% Due 05-15-2033                          164,412
  Pultegroup Inc 5% Due 01-15-2027                          100,300
  Pvh Corp 4.625%                         07-10-2025                          119,435
  Pvtpl 1011778 B C Unlimited Liability   Co New 4% Due 10-15-2030                          207,753
  Pvtpl 1011778 Bc Ulc/New Red Fin Inc 4.25% Due 05-15-2024 Beo                            31,620
  Pvtpl 144A Nissan Mtr Accep Corp 2.8%         01-13-2022 Beo                          305,081
  Pvtpl Aavaya Inc 6.125%                 09-15-2028                          119,645
  Pvtpl Adams Ml Clo Ltd 14-1A Cl A-1-R 144A Fltg Rt 07-15-2026                          150,306
  Pvtpl Adient Us Llc Fixed 7% 05-15-2026                            97,894
  Pvtpl Ahp Health Partners 9.75% Due          07-15-2026 Beo                          248,344
  Pvtpl Albertsons Cos Inc 4.875% Due     02-15-2030                          267,757
         

 

 (continued)

 

54 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Albertsons Cos Inc Fixed 5.875%    02-15-2028                          318,840
  Pvtpl Albertsons Cos Inc/Safeway Inc New A Sr Nt 144A 7.5%   03-15-2026                          233,881
  Pvtpl Albertsons Cos Inc/Safeway Inc Newa 3.25% Due 03-15-2026/08-31-2020 Beo                          243,600
  Pvtpl Albertsons Cos Inc/Safeway Inc Newa 3.5% Due 03-15-2029/08-31-2020 Beo                          168,982
  Pvtpl Allied Unvl Holdco 9.75%          07-15-2027                          294,300
  Pvtpl Allied Unvl Holdco Llc Allied Unv 6.625% 07-15-2026                          408,393
  Pvtpl Altice France Hldg S A Nt 144A 6% 02-15-2028                          228,825
  Pvtpl Altice France S A Sr Secd Nt 144A 8.125% Due 02-01-2027/07-31-2018 Beo                          640,558
  Pvtpl Altice France S A Sr Secd Nt 144A7.375% Due 05-01-2026/05-01-2021 Beo                          693,598
  Pvtpl Antero Midstream Partners Lp/Antero Mi 5.75% Due 03-01-2027 Beo                          122,813
  Pvtpl Antero Midstream Partners 7.875%             05-15-2026                          194,125
  Pvtpl Aramark Svcs Inc 6.375%           Due 05-01-2025 Beo                          197,719
  Pvtpl Arches Buyer Inc 144A 4.25% Due   06-01-2028 Beo                          157,981
  Pvtpl Archrock Partners L P 6.25% Due 04-01-2028                          124,915
  Pvtpl Ardagh Packaging Fin Plc 5.25% 04-30-2025 Beo                          211,000
  Pvtpl Ares Fin Co Ii Llc Sr Nt 144A     3.25% Due 06-15-2030/06-15-2020 Beo                          423,449
  Pvtpl Ashtead Cap Inc 4.25%             11-01-2029                          547,420
  Pvtpl Assuredpartners Inc 5.625% Due    01-15-2029/12-10-2020 Beo                            51,144
  Pvtpl At&T Inc 2.55% Due 12-01-2033 Beo                       1,964,165
  Pvtpl Atlas Sr Secd Ln Fd Viii Ltd Sr 17-8A Cl B Fltg 01-15-2030                          798,916
  Pvtpl Avantor 4.625% Due 07-15-2028 Beo                          339,458
  Pvtpl Avis Budget Car Rent Llc 5.75% 15 07-03-2019                          106,575
  Pvtpl Axalta Coating Sys Llc 3.375% Due 02-15-2029 Beo                          126,000
  Pvtpl B A T Intl Fin Plc Gtd Nt 144A    3.95% Due 06-15-2025 Beo                          562,266
  Pvtpl Bamll Coml Mtg Secs Sr 2019-Aht Cl A Fltg 03-15-2034                          689,597
  Pvtpl Banff Merger Sub Inc 9.75% 09-01-2026                          414,778
  Pvtpl Bausch Health Cos Inc 5.25% Due 02-15-2031 Beo                          150,440
  Pvtpl Bausch Health Cos Inc 6.25% Due   02-15-2029 Beo                          197,698
  Pvtpl Bausch Health Cos Inc Fixed 5.75%  08-15-2027 Beo                          218,790
  Pvtpl Bluemountain Clo 2013-2A Ltd Cl A-1-R Fltg  10-22-2030                          395,075
  Pvtpl Bluemountain Clo 2015-2 Ltd Ser-15-2A Cl-A1R Var 07-18-2027 Beo                          923,346
  Pvtpl Bmw Fin N V 2.25%                08-12-2022                          309,369
  Pvtpl Bnp Paribas 2.219%                06-09-2026                          837,305
  Pvtpl Boc Aviation Pte Ltd Fltg Rt             09-26-2023                          991,195
  Pvtpl Bombardier Inc 144A 6% Due        10-15-2022/04-15-2020 Beo                          238,541
  Pvtpl Bombardier Inc 7.875% Due 04-15-2027                          241,813
  Pvtpl Bombardier Inc Sr Nt 5.75         Due 03-15-2022                          112,230
  Pvtpl Boxer Parent Co Inc 7.125% Due    10-02-2025/06-01-2020 Beo                            62,956
  Pvtpl Bpce  Medium Term Sub Nts Book     Entry 144A 4.625 Due 07-11-2024 Beo                       1,117,871
  Pvtpl Cable One Inc Sr Nt 144A 4% Due   11-15-2030 Beo                          238,913
  Pvtpl Cablevision Lightpath Llc Sr Secd Nt 3.875% 09-15-2027                          270,681
  Pvtpl Calpine Corp 3.75% Due 03-01-2031 Beo                          207,969
  Pvtpl Carlyle Fin Subsidiary Llc S 3.5% 09-19-2029                          439,602
  Pvtpl Carlyle Global Mkt Strategies Clo Ser 2015-3A Cls Air Fltg 07-28-2028                          399,009
  Pvtpl Cascades Inc 5.125%  Due 01-15-2026 Beo                          138,369
         

 

 (continued)

 

55 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Catalent Pharma Solutions Inc 5.0% Due 07-15-2027                          198,554
  Pvtpl Catamaran Clo Sr 13-1A Cl Ar Fltg Due 01-27-2028                          552,341
  Pvtpl Cbam 2018-8 Ltd Llc Nt Cl A-1 Fltg 3C7 10-20-2029 Beo                       1,092,813
  Pvtpl Cco Hldgs Llc 4.75% Due                    03-01-2030                          242,775
  Pvtpl Cco Hldgs Llc 4.5% Due 08-15-2030                              8,490
  Pvtpl Cco Hldgs Llc 5.5% Due 05-01-2026                          160,619
  Pvtpl Cco Hldgs Llc 5.75% Due 02-15-2026                            98,026
  Pvtpl Cco Hldgs Llc Sr Nt 144A 4.5% 05-01-2032                          597,923
  Pvtpl Centene Escrow Sr Nt       5.375% 06-01-2026                          794,197
  Pvtpl Centene Escrow Sr Nt 6.0%        Due 02-15-2024 Beo                          287,047
  Pvtpl Chesapeake Fdg Ii Llc 2018-2 Cl A-2 Fltg Rate 08-15-2030                          172,166
  Pvtpl Clarios Global Lp 144A 6.75%  05-15-2025                            71,115
  Pvtpl Cmo Bamll Coml Mtg Secs Tr 2019-Rlj Ser 2019-Rlj Cls A Var Rt 04-15-2036                          486,851
  Pvtpl Cmo Cim Trust Ser 19-Inv1 Cls A2 Fltg Rt  02-25-2049                          212,153
  Pvtpl Cmo Csmc 2018-Rpl9 Tr Mtg Backed  Nt Cl A 144A Var Rt Due 09-25-2057                          590,473
  Pvtpl Cmo Gosforth Funding 2012-1 Plc   Step Up Due 08-25-2060 Beo                          274,160
  Pvtpl Cmo Gs Mtg Secs Tr 2010-C1  Cl A-2 144A 4.592% 08-10-2043                            79,614
  Pvtpl Cmo Mill City Mtg Ln Tr 2019-Gs2  Ser 19-Gs2 Cls A1 Var Rt 08-25-2059                       1,065,571
  Pvtpl Cmo New Residential Mtg Ln Ser 19-Rpl3 Cl A1 Frn 07-25-2059 Beo                          896,508
  Pvtpl Cmo New Residential Mtg Ln Tr     20-Rpl1 Cl A-1 Var Rt Due 11-25-2059                          743,436
  Pvtpl Cmo Rbssp Resecuritization Tr     2010-1 Cl 2-A1 144A Var 07-26-2045 Beo                            16,899
  Pvtpl Cmo Rbssp Resecuritization Tr Ser 2009-12  Cl 18A1 Fltg 12-25-2035                            34,844
  Pvtpl Cmo Silverstone Master Issuer Ser 19-1A Cl 1A Fltg Rt 01-21-2070                          216,254
  Pvtpl Cmo The Bancorp Coml Mtg Tr Ser 2019-Cre6 Tr Cls A Fltg Due 09-15-2036                          144,442
  Pvtpl Cmo Vmc Fin 2018-Fl2 Llc Sr Secd  Nt Cl A Fltg 144A Var Rt Due 10-15-2035                          158,595
  Pvtpl Cnx Res Corp 6% Due               01-15-2029/11-30-2020 Beo                            94,253
  Pvptl Commscope Fin Llc Sr Nt 144A 6.0%   03-01-2026                          110,628
  Pvtpl Commscope Technologies Finance Bnds 6.0% Due 06-15-2025                            64,418
  Pvtpl Continental Res Inc 5.75% Due     01-15-2031/11-25-2020 Beo                          187,587
  Pvtpl Cott Hldgs Inc Sr 5.5% Due        04-01-2025 Beo                          361,375
  Pvtpl Credit Suisse Group Ag 6.5 Due    08-08-2023 Beo                       1,349,741
  Pvtpl Crestwood Midstream Partners 5.625% 05-01-2027                            89,100
  Pvtpl Crownrock L P/Crownrock Fin Inc 5.625% 10-15-2025                            97,017
  Pvtpl Csc Hldgs Llc 7.5% 04-01-2028                          225,000
  Pvtpl Daimler Fin North Amer Llc V 2.55%Due 08-15-2022                          413,590
  Pvtpl Dana Financing Lux Sarl Bnds 5.75% Due 04-15-2025                          164,963
  Pvtpl Danone Nt 144A 2.947% Due         11-02-2026/11-02-2016 Beo                          329,580
  Pvtpl Danske Bk A/S 3.244% Due         12-20-2025                          321,028
  Pvtpl Danske Bk A/S Medium Term Nts Bookentry Tranche 5.0% 01-12-2022 Reg                          208,792
  Pvtpl Davita Inc 3.75% 02-15-2031                          129,966
  Pvtpl Dcp Mid Stream Operating 11/3/2036                          102,600
  Pvtpl Dell Int Llc Emc Corp 6.2% Due    07-15-2030 Beo                          500,473
  Pvtpl Dell Int Llc Emc Corp Sr Nt 5.875% 06-15-2021                            45,081
  Pvtpl Dell Int Llc Emc Corp 5.85% Due      07-15-2025 Beo                          600,408
  Pvtpl Dell Int Llc Emc Corp 6.1% Due 07-15-2027/04-09-2020 Beo                            49,720
         

 

 (continued)

 

56 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Denali Capital Clo X Ltd Fltg Rt Ser 13-1A Cl A1Lr Due 10-26-2027                          507,111
  Pvtpl Diamond 1 Fin Corp Diamond 2 Bnds 144A 8.35% Due 07-15-2046                          219,358
  Pvtpl Diamond 1 Fin Corp Diamond 2 Fin  Corp 1St Lien Nt 144A 6.02                          609,973
  Pvtpl Diamond Sports Gr Diamon 5.375% 08-15-2026 Beo                          260,000
  Pvtpl Double Eagle Iii Midco 1 Llc Double Ea 7.75% 12-15-2025                          171,782
  Pvtpl East Ohio Gas Co 2.0%             06-15-2030                          518,219
  Pvtpl Ecmc Group Stud Ln Tr 2018-2 Nt Cla Fltg Rate 144A Var Rt Due 09-25-2068                          775,150
  Pvtpl Ecmc Group Stud Ln Sr 2018-1A Cl A  Var Rt 2-27-2068                          320,121
  Pvtpl Eldorado Resorts Inc Sr Nt 144A   8.125% Due 07-01-2027/07-06-2020 Beo                          235,796
  Pvtpl Endeavor Energy Resource 5.5% Due 01-30-2026/12-07-2017 Beo                          101,589
  Pvtpl Energizer Hldgs Inc New Sr Nt     7.75% 01-15-2027                            61,133
  Pvtpl Entegris Inc Sr Nt 144A 4.375% Due04-15-2028/04-30-2020 Beo                          197,256
  Pvtpl Enterprise Fleet Fing 2018-3 Llc Sr18-3 Cl A2 3.38% Due 05-20-2024 Beo                          120,206
  Pvtpl Eqm Midstream Partners L P Sr Nt  144A 6% Due 07-01-2025/06-18-2020 Beo                            82,125
  Pvtpl Eqm Midstream Partners L P Sr Nt  144A 6.5% Due 07-01-2027/06-18-2020 Beo                            84,453
  Pvtpl Erac Usa Fin Llc Gtd Nt 144A 4.5% Due 08-16-2021 Beo                          307,592
  Pvtpl Evans Grove Clo Ltd Ser 18-1A Cl A1  Fltg  05-28-2028                          335,600
  Pvtpl Expedia Group Inc 4.625% Due 08-01-2027 Beo                            63,669
  Pvtpl Expedia Group Inc Sr Nt 144A 3.6% 12-15-2023                          319,711
  Pvtpl Expedia Group Inc Sr Nt 144A 6.25 Due 05-01-2025                          348,889
  Pvtpl Expedia Group Inc Sr Nt Nc2 144A 7 05-01-2025                            27,555
  Pvtpl Figueroa Clo Ltd 2014-1 Cl A-R Fltg        01-15-2027                            38,898
  Pvtpl Financial & Risk Us Hldgs Inc 6.25% Due 05-15-2026                          480,375
  Pvtpl Financial & Risk Us Hldgs Inc 8.25% 11-15-2026                          276,086
  Pvtpl Flex Acquisition Co Inc Sr 6.875% Due 01-15-2025                          272,020
  Pvtpl Fmg Res August 2006 Pty Ltd Sr Nt 5.125% 03-15-2023                          179,563
  Pvptl Fmg Res August 2006 Pty Ltd 4.75% Due   05-12-2017                            92,588
  Pvtpl Frontdoor Inc 6.75%  08-15-2026                          262,298
  Pvtpl Frontier Communications Corp 5.875% 10-15-2027                            92,988
  Pvtpl Ge Cap Fdg Llc Gtd Nt 144A 3.45%  Due 05-15-2025/05-18-2020 Beo                          441,329
  Pvtpl Gfl Environmental Inc 3.5% Due          09-01-2028/12-21-2020 Beo                          278,966
  Pvtpl Global Net Lease Inc 3.75 Due 12-15-2027/12-17-2020 Beo                          383,527
  Pvtpl Gmf Floorplan Owner Revolving Tr Ser 2018-2  Cl A1 3.13%  03-15-2023                          301,684
  Pvtpl Gmf Floorplan Owner Revolving Tr Ser 2018-2 Cl A2  Fltg Rt 03-15-2021                          300,171
  Pvtpl Golden Credit Card Trust Ser 2017-4A Cls A Var 144A 07-15-2024                          602,753
  Pvtpl Grace W R & Co-Conn Nt 144A 4.875%Due 06-15-2027/06-26-2020 Beo                          144,231
  Pvtpl Graftech Fin Inc 4.625% Due       12-15-2028/12-15-2023 Beo                          230,565
  Pvtpl Gtcr Ap Fin Inc 8% Due 05-15-2027                          195,471
  Pvtpl Gw B-Cr Sec Corp 9.5% Due         11-01-2027                            95,245
  Pvtpl Gw Honos Sec Corp 8.75% Due       05-15-2025 Beo                            83,200
  Pvtpl Hanesbrands Inc Sr  144A 4.875%   Due 05-15-2026/05-06-2016 Beo                          101,021
  Pvtpl Hanesbrands Inc Sr Nt 144A 4.625% Due 05-15-2024/05-06-2016 Beo                          209,500
  Pvtpl Hat Hldgs I Llc 144A 5.25 Due                     07-15-2024                          312,000
  Pvtpl Hyundai Cap Amer 1.15% Due 11-10-2022 Beo                          400,432
  Pvtpl Ihs Markit Ltd 144A 5% Due        11-01-2022/07-28-2016                          427,704
         

 

 (continued)

 

57 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Illuminate Buyer Llc Sr Nt 144A 9.0% Due 07-01-2028                          231,000
  Pvtpl Imperial Brands Fin Plc Gtd Sr Nt  3.125%  07-26-2024                          642,569
  Pvtpl Imperial Tobbacco Finance 3.75%   07-21-2022                          312,775
  Pvptl Indigo Nat Res Llc 6.875% 02-15-2026                          146,218
  Pvtpl Infor Inc Sr Nt 144A 1.75% Due    07-15-2025/06-05-2020 Reg                          519,370
  Pvtpl Ing Groep N V 1.4% Due                  07-01-2026                          711,765
  Pvtpl International Game Technology 6.25% 01-15-2027                          229,030
  Pvtpl International Game Technology Plc 5.25% Due 01-15-2029/06-19-2020 Beo                            89,433
  Pvtpl Ipalco Enterprises Inc 4.25% Due 05-01-2030                          230,887
  Pvtpl Iron Mtn Inc New 5.25% Due        07-15-2030                              7,560
  Pvtpl Iron Mtn Inc New Bds 144A 5.625%  Due 07-15-2032/06-22-2020 Beo                          619,605
  Pvtpl Jmp Cr Advisors Clo Ser 14-1Ra Cl A Fltg 01-17-2028                          242,549
  Pvtpl Kar Auction Svcs Inc 5.125% Due 06-01-2025 Beo                          391,031
  Pvtpl Kkr Clo  Ltd Sr 18 Cl A Var Rt  07-18-2030                          300,000
  Pvtpl Kraft Heinz Foods Co 4.875% Due 10-01-2049 Beo                            31,499
  Pvtpl Kraft Heinz Foods Co 5.5% Due     06-01-2050 Beo                          497,602
  Pvtpl Kraft Heinz Foods Co Gtd Sr Nt     4.25% Due 03-01-2031                            98,125
  Pvtpl Kronos Acquisition Hldgs Inc Sr Nt144A 7% Due 12-31-2027/12-22-2020 Beo                          141,348
  Pvtpl Labl Escrow Issuer Llc Fixed 6.75% 07-15-2026                          157,031
  Pvtpl Lamb Weston Hldgs Inc Sr Nt 144A  4.875% Due 05-15-2028 Beo                          117,206
  Pvtpl Lcpr Sr Secd Fing Designated Activity Co 6.75 10-15-2027                          226,013
  Pvtpl Leaseplan Corp N V Medium Term Nts2.875% Due 10-24-2024                          211,332
  Pvtpl Level 3 Fing Inc 3.4% Due         03-01-2027                          762,034
  Pvtpl Level 3 Fing Inc 3.625% Due       01-15-2029/08-12-2020 Beo                            48,878
  Pvtpl Lifepoint Health Inc 5.375% Due 01-15-2029 Beo                          177,617
  Pvtpl Lifepoint Health Inc 6.75% Due    04-15-2025 Beo                          193,286
  Pvtpl Lions Gate Cap Hldgs Llc Sr Nt    6.375% 02-01-2024                          349,525
  Pvptl Lions Gate Cap Hldgs Llc 5.875% Due     11-01-2024 Beo                          192,850
  Pvtpl Lithia Mtrs Inc 4.375% Due 01-15-2031                          189,833
  Pvtpl Live Nation Entmt In 4.75% Due 10-15-2027                          347,448
  Pvtpl Loomis Sayles Clo Ii Ltd Ser 15-2A Cls Air Fltg 04-15-2028                          234,541
  Pvtpl Madison Pk Fdg Xi Ltd Nt Cl A-R Fltg Rate 07-23-2029                          499,449
  Pvtpl Madison Pk Fdg Xxiii Ltd Ser 17-23A Cl A Fltg Rt 07-27-2030                          399,408
  Pvtpl Marriott Ownership Resorts Inc 6.125% Due 09-15-2025/05-13-2020 Beo                          269,445
  Pvtpl Match Group Inc Sr Nt 144A 4.625% Due 06-01-2028/05-19-2020 Beo                          157,219
  Pvtpl Meredith Corp Sr Secd Nt 144A 6.5%Due 07-01-2025/07-01-2022 Beo                          159,000
  Pvtpl Metropolitan Edison Co 4.3% Due         01-15-2029 Beo                          113,176
  Pvtpl Mf1 Multifamily Housing Mortgage Lo Sr 20-Fl4 Cl A Var Rt Due 11-15-2035                          801,293
  Pvtpl Midocean Cr Clo Iv Ser 15-4A Cls Ar Fltg 04-15-2027                          114,582
  Pvtpl Midocean Cr Clo Vi Nt Cl A-R Fltg 144A 01-20-2029                       1,198,287
  Pvtpl Midwest Connector Cap Co Llc 3.625% 04-01-2022                          305,255
  Pvtpl Molina Healthcare Inc 3.875% Due  11-15-2030 Beo                          412,913
  Pvtpl Montefiore Med Ctr Ny Gnma Coll   Taxbl Rev Bd 144A Due 05-20-27                            76,007
  Pvtpl Moss Creek Res Hldgs Inc Fixed 10.5% 05-15-2027 Beo                          146,400
  Pvptl Moss Creek Res Hldgs Inc 7.5% Due       01-15-2026/01-18-2018 Beo                          262,960
         

 

 (continued)

 

58 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Mountain View Clo 2017-1 Ltd Ser 17-1A Cl Ar Frn 10-16-2029 Beo                          397,728
  Pvtpl Mountain View Clo Ser 14-1A Cl Arr Fltg 10-15-2026                            97,942
  Pvtpl Mountain View Clo Ser 15-10A Cls Ar Fltg 01-13-2027                          355,388
  Pvtpl Mph Acquisition Hldgs Llc Sr Nt   5.75% 11-01-2028                            44,226
  Pvtpl Nationstar Mtg Hldgs Inc Sr Nt 5.125%   Due 12-15-2030 Beo                          124,381
  Pvtpl Nationstar Mtg Hldgs Inc Sr Nt    144A 6% Due 01-15-2027/01-16-2020 Beo                            53,063
  Pvtpl Navient Private Ed Refi Ln Tr     2019-Fa Cl A1 2.18% Due 08-15-2068 Beo                            26,609
  Pvtpl Navient Private Ed Refi Ln Tr Sr  2019-C Cl A-2  02-15-2068                          824,230
  Pvtpl Navient Student Ln Tr 2016-5 Nt Cla Fltg 144A Var Rt Due 06-25-2065 Beo                          750,003
  Pvtpl Navistar Intl Corp New 6.625%11-01-2025                            36,668
  Pvtpl Navistar Intl Corp New Sr Secd Nt 9.5% Due 05-01-2025 Beo                          207,663
  Pvtpl Ncl Corp Ltd 10.25% Due           02-01-2026                          228,150
  Pvtpl Ncl Corp Ltd Sr Nt 3.625% Due     12-15-2024                            80,750
  Pvtpl Ncr Corp 6.125% Due                 09-01-2029                            90,815
  Pvtpl Nelnet Student Ln Tr Fltg Rt Ser 19-2A Cl A 06-27-2067 Beo                          725,929
  Pvtpl Nelnet Student Ln Tr Ser 17-3A Cl A Fltg 02-25-2066                          490,766
  Pvtpl Netflix Inc 4.875% Due            06-15-2030/10-25-2019 Beo                          195,500
  Pvtpl Neuberger Berman Clo Ltd Sr Secd Nt Cl  A-1-R2 Frns 3C7  04-15-2027                          268,042
  Pvtpl New Enterprise Stone & Lime Co Inc 6.25%  03-15-2026                            64,575
  Pvtpl New Residential Mtg Ser 18-Rpl1 Cl A1 Var 12-25-2057                          606,118
  Pvtpl Nexstar Broadcasting Inc 4.75 Due 11-01-2028                            43,943
  Pvtpl Nfp Corp 6.875% Due 08-15-2028                          341,658
  Pvptl Ngpl Pipeco Llc 4.875%            Due 08-15-2027 Beo                          339,887
  Pvtpl Nielsen Fin Llc 5.625% Due 10-01-2028/09-24-2020 Beo                            30,423
  Pvtpl Nissan Mtr Accep Corp Fltg        09-21-2021 Beo                          498,769
  Pvtpl Nova Chemicals Corp Nt 144A    5.25% Due 08-01-2023/08-01-2020 Beo                            30,150
  Pvtpl Nrg Energy Inc 3.375% Due               02-15-2029/12-02-2020 Beo                          132,070
  Pvtpl Nrg Energy Inc 3.625% Due         02-15-2031/12-02-2020 Beo                          294,237
  Pvtpl Nrg Energy Inc Fixed 5.25%        06-15-2029 Beo                          190,300
  Pvtpl Nxp B V / Nxp Fdg Llc Sr Nt 144A  3.875% Due 09-01-2022/08-01-2022 Beo                          210,789
  Pvtpl Nxp B V/Nxp Fdg Llc/Nxp Usa 4.3% 06-18-2029                          476,729
  Pvtpl Nxp B V/Nxp Fdg Llc/Nxp Usa Inc 3.4% Due 05-01-2030 Beo                          113,402
  Pvtpl Ocp Clo 2015-9 Ltd Ser 15-9A Cl A1R Fltg 07-15-2027                          234,047
  Pvtpl Ocp Clo Ltd 2015-10A Cl A-1-R Fltg 10-26-2027                          408,046
  Pvtpl Ocp Clo Ltd Sr 14-7A Cl A1Rp Var Rt 07-20-2029                          298,653
  Pvtpl Octagon Invt Partners 31 Ltd Sr 17-1A Cl A Fltg Due 07-20-2030                          698,242
  Pvtpl Open Text Hldgs Inc 4.125% Due    02-15-2030                          155,315
  Pvtpl Outfront Media Cap Llc 5.0% 08-15-2027                            39,683
  Pvtpl Ozlme Ser 1A Cl Ar Va Rt Due     01-18-2030 Beo                          305,357
  Pvtpl Palmer Square Ln Fdg 2018-4A Ltd Cl A-1 Fltg Rt 11-15-2026                          160,645
  Pvtpl Palmer Square Ln Fdg 2020-3       Ltd/Palmer Sr Secd Nt Due 07-20-2028                          734,545
  Pvtpl Palmer Square Ln Fdg Fltg Rt Ser 19-2A Cl A1 04-20-2027 Beo                          400,298
  Pvtpl Palmer Square Ln Fdg Ser 18-3A Cl A1 Fltg 08-15-2026                          197,734
  Pvtpl Palmer Square Ln Fdg Ser 19-4A Cl A1 Fltg  10-24-2027                          424,085
  Pvtpl Panther Bf Aggregator 2 Lp 6.25% 05-15-2026                            64,350
         

 

 (continued)

 

59 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Park Aerospace Hldgs 5.25%        08-15-2022                              5,248
  Pvtpl Parkland Fuel Corp 5.875% Due     07-15-2027 Beo                          167,591
  Pvptl Parkland Fuel Corp 6.0% 04-01-2026                          178,500
  Pvtpl Pennsylvania Elec Co Fixed 3.6%06-01-2029 Beo                          109,295
  Pvtpl Post Hldgs Inc Sr Nt 144A 5.5% Due12-15-2029/07-03-2019 Beo                            91,665
  Pvtpl Quicken Lns Inc 5.25% 01-15-2028                            58,713
  Pvtpl Radiate Holdco Finance 6.5% Due   09-15-2028 Beo                          243,416
  Pvtpl Radiate Holdco/Finance 4.5% Due   09-15-2026                          237,188
  Pvtpl Rattler Midstream Lp Sr Nt 144A   5.625% Due 07-15-2025/07-14-2020 Beo                          121,469
  Pvtpl Reckitt Benckiser Treas Svcs Plc Fltg Due 06-24-2022                          301,384
  Pvtpl Rolls-Royce 3.625%                Due 10-14-2025                          201,500
  Pvtpl Sba Tower Tr 2020-1C Secd Tower   Rev Secs 144A 1.884% Due 07-15-2050 Beo                          617,534
  Pvtpl Scientific Games Intl Inc 7.25%   Due 11-15-2029                            48,290
  Pvtpl Scientific Games Intl Inc Sr Nt   144A 8.25%  03-15-2026                          173,494
  Pvtpl Sensata Technologies Inc 4.375% Due 02-15-2030                            50,584
  Pvtpl Shea Homes Ltd Partnership 4.75 Due 04-01-2029                          251,738
  Pvtpl Shea Homes Ltd Partnership 4.75% Due 02-15-2028                          150,075
  Pvtpl Sirius Xm Radio Inc Fixed 4.625% 07-15-2024                          238,338
  Pvtpl Six Flags Theme Parks Inc Sr Secd Nt 144A 7% Due 07-01-2025/04-22-2020                            95,040
  Pvtpl Skymiles Ip Ltd & Delta Air Lines Inc 4.5% Due 10-20-2025                          320,658
  Pvtpl Slm Stud Ln Nt Cl A-5A Var Rt Due 01-26-2026 Reg                            26,709
  Pvtpl Slm Stud Ln Ser 04-10 Cl A7B Fltg   10-25-2029                       1,777,730
  Pvtpl Sm Energy Co 10.0% Due 01-15-2025 Beo                            21,500
  Pvtpl Smb Private Ed Ln Tr 2020-B 1.29% 07/15/2053 1.29% Due 07-15-2053 Beo                          731,926
  Pvtpl Smb Private Ed Ln Tr 2020-Pt-A    1.6% Due 09-15-2054 Beo                       1,212,885
  Pvtpl Smbc Aviation Cap Fin Dac Gtd Sr  Nt 144A 2.65% Due 07-15-2021 Beo                          303,133
  Pvtpl Sound Pt Clo X Ltd Sr Secd Nt Cl A-1-R 144A  01-20-2028                          233,026
  Pvtpl Sound Pt Clo X Ltd Sr Secd Nt Cl A-R Fltg 144A 3C7 Var                          499,522
  Pvtpl Sp-Static Clo Ltd  Sr 20-1A Cl A Fltg     07-22-2028                       1,048,597
  Pvtpl Srs Distr Inc 8.25% Due 07-01-2026Beo                          242,250
  Pvtpl Ssl Robotics Llc 9.75% 12-31-2023                          237,300
  Pvtpl Standard Chartered Plc Nt Fltg Rate  01-20-2023                          201,313
  Pvtpl Stars Group Hldgs B V Stars Group Us C  Sr Nt 7.0% 07-15-2026                       1,083,023
  Pvtpl Stericycle Inc 3.875% Due         01-15-2029/11-24-2020 Beo                          147,960
  Pvtpl Stericycle Inc Sr Nt 5.375%       Due 07-15-2024                          188,638
  Pvtpl Sumitomo Mitsui Tr Bk Ltd .8% Due 09-12-2023 Beo                          403,621
  Pvtpl Summit Matls Llc Fixed 6.5%        03-15-2027                          100,938
  Pvtpl Summit Matls Llc 144A 5.25% Due 01-15-2029                            54,600
  Pvtpl Suntory Hldgs Ltd 2.55%           Due 06-28-2022                          308,260
  Pvtpl Switch Ltd 3.75% Due              09-15-2028/09-17-2020 Beo                          152,250
  Pvtpl Syneos Health Inc 3.625% Due 01-15-2029 Beo                          178,492
  Pvtpl Talen Energy Sup Llc Sr Secd Nt   144A 7.625 Due 06-01-2028/05-22-2020 Beo                          188,563
  Pvtpl Talen Energy Supply Llc 7.25% 05-15-2027                          122,475
  Pvtpl Tallgrass Energy Partners Lp 6.0% 12-31-2030                          202,723
  Pvtpl Tallgrass Energy Partners Lp 7.5% 10-01-2025                          151,143
         

 

 (continued)

 

60 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Tallgrass Energy Partners Lp Sr 5.5% 09-15-2024                          153,643
  Pvtpl Taylor Morrison Cmntys Inc Sr Nt  5.125% Due 08-01-2030 Beo                          107,520
  Pvtpl Tcw Clo 2020-1 Ltd Var Rt Due 10-20-2031 Beo                          800,000
  Pvtpl Tegna Inc Sr Nt 4.75% Due         03-15-2026 Beo                          154,831
  Pvtpl Teleflex Inc Sr Nt 144A 4.25% Due 06-01-2028/05-27-2020 Beo                          174,900
  Pvtpl Telesat Canada/Telesat Llc 4.875% Due 06-01-2027                          103,500
  Pvtpl Telesat Cda 6.5%                 10-15-2027                          294,690
  Pvtpl Telos Clo Ltd Ser 2014-5A Cl A-1-Rfltg Rate 04-17-2028                          195,210
  Pvtpl Tempo Acqstn Llc 5.75% Due 06-01-2025/05-07-2020 Beo                          132,813
  Pvtpl Tempo Acqstn Llc 6.75% 06-01-2025                          754,492
  Pvtpl Tenet Healthcare Corp 6.25%       02-01-2027                          244,860
  Pvtpl Tenet Healthcare Corp 7.5% Due    04-01-2025 Beo                          281,865
  Pvptl Tesla Inc 5.3% 8-15-2025                          243,945
  Pvtpl Ticp Clo Ii-2 Ltd Ser 18-Iia Cl A1  Fltg  04-20-2028                          269,479
  Pvtpl T-Mobile Usa Inc 2.55% Due        02-15-2031 Beo                          105,007
  Pvtpl T-Mobile Usa Inc Sr Secd Nt 144A  3.875% Due 04-15-2030/04-09-2020 Beo                          579,100
  Pvtpl Towd Point Mortgage Trust Ser     19-Sj3 Cls A1 Var Rt 09-25-2059                          678,915
  Pvtpl Towd Pt Mtg Tr Fltg Rt Ser 19-Hy2 Cl A1 12-25-2048 Beo                          107,792
  Pvtpl Towd Pt Mtg Tr Ser 2019-Hy3 Cl A1A Fltg 12-25-2048                          787,288
  Pvtpl Towd Pt Mtg Tr Var Rt Ser 19-1 Cl A1 03-25-2058                          693,338
  Pvtpl Transdigm Inc 6.25% 03-15-2026                          700,770
  Pvtpl Transdigm Inc 8% Due              12-15-2025/04-08-2020 Beo                          259,746
  Pvtpl Transocean Poseidon Ltd Sr Secd Nt6.875% 02-01-2027                          118,300
  Pvtpl Trinseo Matls Oper S C A 5.375% Due 09-01-2025                          164,421
  Pvtpl Triumph Group Inc New 8.875% Due  06-01-2024/08-17-2020 Beo                          296,325
  Pvtpl Tronox Inc 0.0%                   05-01-2025                          107,000
  Pvtpl Tronox Inc Sr Nt 144A 6.5%        04-15-2026                          218,663
  Pvtpl United Shore Finan Serv 5.5%      11-15-2025                          283,795
  Pvtpl Uniti Group Lp 7.875% Due 02-15-2025                          199,803
  Pvtpl Univision Communications Inc Sr   Secd Nt 9.5% Due 05-01-2025 Beo                            61,188
  Pvtpl Vail Resorts Inc 6.25%            05-15-2025                            96,075
  Pvtpl Valeant Pharmaceuticals Intl 9.25% 144A 04-01-2026                            44,600
  Pvtpl Valeant Pharmaceuticals Intl Bnds 9.0% Due 12-15-2025                          199,815
  Pvtpl Valeant Pharmaceuticals Usd Sr 6.125% Due 04-15-2025/03-27-2015                          103,066
  Pvtpl Venture Cdo Ltd Ser 18-35A Cls As 144A Fltg Rt   10-22-2031 Beo                          599,998
  Pvtpl Venture Cdo Ltd Ser 15-21A Fltg Rate Due 07-15-2027                          292,130
  Pvtpl Venture Cdo Ltd Sr 14-17A Cl Arr  Fltg 04-15-2027                          183,568
  Pvtpl Venture Xii Clo Ltd Ser 2012-12A Cl A-Rr Fltg 02-28-2026                          330,873
  Pvtpl Venture Xvi Clo Ltd Ser 14-16A Cl A-Rr Var Rate  01-15-2029                          389,777
  Pvtpl Venture Xxv Clo Ltd Sr Secd Nt Cl A-R 144A 3C7 Var Rt                          698,617
  Pvtpl Venture Xxv Clo Ltd Sr 16-25A Cl Arr Fltg Rt 04-20-2029                       1,100,000
  Pvtpl Verscend Escrow Corp 9.75%           08-15-2026                          508,279
  Pvtpl Vertical Brdg Cc Llc Rev Nt Ser 144A 2.636 Due 09-15-2050 Beo                          605,569
  Pvtpl Vertical U S Newco Inc 5.25% Due  07-15-2027                          275,600
  Pvtpl Viasat Inc Sr Nt 144A 5.625% 09-15-2025                          531,856
         

 

 (continued)

 

61 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Pvtpl Vistra Operations Co Llc 5.5% Due 09-01-2026 Beo                            78,165
  Pvtpl Volkswagen Group Amer Fin Llc 3.35% Due 05-13-2025 Beo                          329,807
  Pvtpl Voya Clo Ltd Ser 14-3A Cl A1R Fltg Rt 07-25-2026 Due 07-25-2026 Beo                          116,490
  Pvtpl Wesco Distr Inc 7.25% Due         06-15-2028                          119,415
  Pvtpl Western Global Airls Llc 10.375%  Due 08-15-2025/08-21-2020 Beo                          401,400
  Pvtpl Wex Inc 4.75 Due                  02-01-2023                          154,193
  Pvtpl Whitehorse X Ltd Sr Secd Nt Cl A-1-R Fltg 04-17-2027                            91,884
  Pvtpl Wmg Acquisition Corp 3.0% 02-15-2031                            72,520
  Pvtpl Wmg Acquisition Corp 3.875% Due   07-15-2030/06-29-2020 Beo                            72,268
  Pvtpl Xpo Logistics Inc 6.5% 06-15-2022                          235,764
  Pvtpl Xpo Logistics Inc 6.75% 144A       08-15-2024                          155,125
  Pvtpl Xpo Logistics Inc Sr Nt 144A      6.125% Due 09-01-2023/09-01-2020 Beo                          391,738
  Pvtpl Xpo Logistics Inc Sr Nt 144A 6.25%Due 05-01-2025/04-28-2020 Beo                          575,735
  Pvtpl Yara Intl Asa Nt 144A 3.148% Due  06-04-2030/06-04-2020 Beo                          433,113
  Pvtpl Yum Brands Inc Sr Nt 144A 7.75%   Due 04-01-2025/04-01-2020 Beo                            71,988
  Pvtpl Z Cap Cr Partners Clo Ser 15-1A Cl A1R Fltgt Rt 07-16-2027                            67,494
  Pvtpl Zais Clo 1 Ltd Ser 14-1A Cl A-1A-R Fltg Rt 04-15-2028                          162,303
  Pvtpl Zayo Group Hldgs Inc Sr Nt 144A   6.125% Due 03-01-2028/03-09-2020                          162,855
  Pvtpl1 Nielsen Fin Llc 144A 5 Due 04-15-2022                          272,715
  Pvtpltralee Clo Iii Ltd Ser 2014-3A Cl A-R Fltg 10-20-2027                          358,407
  Pvtpltriumph Group Inc 6.25% Due 09-15-2024                            62,370
  Qep Resources Inc 5.25% 05-01-2023                          460,995
  Quicken Lns 3.875% Due 03-01-2031                          246,925
  Qvc Inc 4.375% Due 03-15-2023                          227,579
  Qvc Inc 5.45% Due 08-15-2034                          524,160
  Qvc Inc 5.95% Due 03-15-2043                            77,700
  Rabobank Nederland Fltg Rt 1.111% Due   09-26-2023                          708,858
  Realogy Group Llc 7.625% Due 06-15-2025                          107,486
  Refinitiv Us Holdings Inc. (Fka         Initial Dollar Term 10-01-2025 Beo)                          470,678
  Regionalcare Hospital Partners, Inc. Term Loan B Due 11-16-2025                          165,314
  Resdntl Mtg Sec 32A A Cmo 20/06/2070                       1,305,376
  Resid Mortg Secs Frn M/Bkd 03/2050 Gbp  'A'                          315,243
  Ripon Mort. Plc Frn M/Bkd 08/2056 Gbp   'A2'                          355,832
  Ripon Mort. Plc Frn 144A 20/08/2056                          534,139
  Rockwell Collins 2.8% Due 03-15-2022                          205,687
  Royal Bk Cda Global Medium Term Sr Bk Nt2.25% Due 11-01-2024                          531,904
  Royal Bk Scotland Fltg Rt 1.66375% Due  05-15-2023                          303,351
  Royal Bk Scotland Group Plc Sr Nt Fltg  Rate Due 06-25-2024/06-25-2023 Reg                          203,661
  Royal Bk Scotland Group Plc Sr Nt Fltg  Rate Due 06-25-2024/06-25-2023 Reg                          509,151
  Rp Escr Issuer Llc 5.25% Due 12-15-2025                          151,534
  Sabine Pass 5.625% Due 03-01-2025                          583,161
  Sabra Hlth Care 3.9% Due 10-15-2029                          163,042
  Santander Drive Auto Receivables Tr Ser 20-2 Cl A2B Fltg 05-15-2023                          298,616
  Santander Uk Group 3.571% Due 01-10-2023                          206,082
  Santander Uk Group Fltg Rt 4.796% Due   11-15-2024                       1,001,118
         

 

 (continued)

 

62 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Sba Communications Fixed 4% Due         10-01-2022                          257,550
  Scientific Games 8.625% Due 07-01-2025                          262,800
  Scripps E W Co Oh 5.125% Due 05-15-2025                          136,778
  Seagate Hdd Cayman 5.75% Due 12-01-2034                          365,351
  Sempra Energy 3.75% Due 11-15-2025                          452,128
  Sempra Energy Sempra Energy Nt Fltg Rate Due          03-15-2021 Reg                          100,063
  Sensata Sensata 3.75% Due 02-15-2031                          140,975
  Sensata Sensata 6.25% Due 02-15-2026                          239,056
  Service Pptys Service Pptys Tr 5.5% Due 12-15-2027                          108,243
  Sl Green Oper Sl Green Oper Fltg Rt 1.17375% Due      08-16-2021                          997,677
  Slc Student Ln Tr 2006-1 Asset Backed Ntcl A-5 Fltg Var 03-15-2027 Reg                            88,848
  Slm Corp Medium 5.5% Due 01-25-2023                            57,475
  Slm Corp Medium Term Nts Book Entry     5.625% Due 08-01-2033                          206,400
  Slm Corp Medium Term Nts Book Entry     Tranche # Tr 00107 7.25% Due 01-25-2022                          423,225
  Slm Student Ln Tr 2005-4 Cl A-3 Var Rt  Due 01-25-2027                          192,458
  Slm Student Ln Tr 2005-7 Student Ln-Bkd Nt Cl A-4 Var 10-25-2029 Reg                          487,676
  Sm Energy Co 5 Due 01-15-2024                          299,250
  Sm Energy Co 5.625% Due 06-01-2025                          183,375
  Sm Energy Co 6.75% Due 09-15-2026                            36,225
  Smbc Aviation Cap 4.125% Due 07-15-2023                          213,527
  Solenis Intl Lp/Solenis Hldgs 3 Llc Due 06-26-2025 Beo                            99,367
  Solera Llc 10.5% Due 03-01-2024                          478,748
  Sound Point Clo Ltd 0.0% 20/10/2028 0%  10-20-2028                          400,000
  Southwestern Energy Co 8.375% Due       11-15-2028 Reg                          133,455
  Spi Australia Assets Pty Mtn 3.3%       09/04/2023                          421,745
  Springleaf Fin 6.125% Due 03-15-2024                            81,938
  Springleaf Fin 6.875% Due 03-15-2025                            85,933
  Springleaf Fin 8.875% Due 06-01-2025                            62,219
  Sprint Cap Corp 6.875% Due 11-15-2028                          465,423
  Sprint Cap Corp 8.75% Due 03-15-2032                          839,189
  Sprint Corp 7.125% Due 06-15-2024                            76,050
  Sprint Corporation 7.25% Due 09-15-2021                          322,555
  Sprint Corporation 7.875% Due 09-15-2023                          391,336
  Sr Hsg Pptys Fixed 4.75% Due         02-15-2028                          346,260
  Sse Plc 1.25% Snr Emtn 16/04/25 Eur                          386,853
  State Str Corp Var Rate 3.776%               12-03-2024                          109,933
  Std Inds Inc Del 4.375% Due 07-15-2030                            56,696
  Subn Propane 5.5% Due 06-01-2024                            66,381
  Sumitomo Mitsui 1.474% Due 07-08-2025                          409,656
  Sumitomo Mitsui Finl Group Inc 2.448%   Due 09-27-2024                          319,503
  Sumitomo Mitsui Finl Group Inc 2.696%  07-16-2024 Beo                          533,824
  Sunoco Lp / Sunoco 4.875% Due 01-15-2023                            81,008
  Surgery Ctr Hldgs 10% Due 04-15-2027                          186,745
  Surgery Partners, Llc Term Loan B Tl Due09-02-2024 Beo                            37,755
  Sydney Airport Finance 144A 5.125 Due   02-22-2021                          402,249
         

 

 (continued)

 

63 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Synchrony Bk 3.65% Due 05-24-2021                          252,479
  Synchrony Finl 4.25 Due 08-15-2024                          773,442
  Syngenta Fin N V 5.182% Due 04-24-2028                          643,302
  Sysco Corp 5.65% Due                    04-01-2025                          356,700
  Tallgrass Energy 4.75% Due 10-01-2023                            76,838
  Targa Res Partners Fixed 6.5% Due       07-15-2027                            81,375
  Targa Res Partners Fixed Fixed 6.875%         01-15-2029                            70,954
  Telecom Italia Cap 6.375% Due 11-15-2033                          153,750
  Telecom Italia Cap 7.721% Due 06-04-2038                              2,780
  Teleflex Inc 4.625% 11-15-2027                          123,592
  Teva 2.2% Due 07-21-2021                          289,275
  Textron Inc Fixed 2.45% Due 03-15-2031                          617,726
  Tibco Software Inc Second Lien Term Loan 02-14-2028                          150,052
  Tibco Software Inc Trm Bk Ln 06-30-2026 Beo                            96,033
  T-Mobile Usa Inc 6 03-01-2023                            70,088
  T-Mobile Usa Inc 2.05% Due 02-15-2028                          312,048
  T-Mobile Usa Inc 6.5% Due 01-15-2026                          559,935
  Tn Gas Pipeln Co 7% Due 10-15-2028                          260,712
  Towd Point Mortga Frn M/Bkd 05/2045 Gbp 'A'                       1,054,897
  Towd Point Mt 19-13 Frn M/Bkd 07/2045 Gbp'A1'                       1,490,310
  Toyota Tsusho Corp 3.625% Snr 13/09/2023Usd                          214,887
  Transdigm Inc Fixed 7.5% 03-15-2027                          143,045
  Transdigm Uk Hldgs Plc 6.875%           05-15-2026                          211,310
  Treehouse Foods 6% Due 02-15-2024                          106,969
  Trinity Square Frn M/Bkd 07/2051 Gbp 'A'                          441,989
  Tripadvisor Inc 7% Due 07-15-2025                          255,960
  Triumph Group Inc Fixed 7.75% Due       08-15-2025                            53,911
  Truist Finl Corp Fixed 5.1% Due         12-31-2049                          571,255
  Twitter Inc 3.875% Due 12-15-2027                          342,930
  Ubs Ag Stamford 7.625% Due 08-17-2022                          774,711
  Ultimate Software Group Inc The Term Loan B Due 05-04-2026 Beo                            52,583
  Unicredit Spa Fltg Rt 4.13375% Due      01-14-2022                          359,867
  Univision Communications Inc. Term Loan Due 03-15-2024 Beo                            41,526
  Us Foods Inc 6.25% Due 04-15-2025                            89,775
  Usa Compression Fixed 6.875% Due        04-01-2026                          125,400
  Usa Compression Partners Lp/Usa 6.875% Due 09-01-2027                          106,758
  Utd Contl Hldgs Fixed 4.15% Due         04-11-2024                          253,960
  Utd Rentals N Amer 5.875% Due 09-15-2026                          135,514
  Valeant Pharmaceuticals Intl Inc Cda Gtdsr Secd Nt 144A 7.0% Due 03-15-2024                          665,601
  Vereit Oper Partnership L P 4.625%      11-01-2025                          115,101
  Verisign Inc Fixed 4.75% Due 07-15-2027                          142,686
  Verizon Fixed Fixed 3.376% Due 02-15-2025                          480,905
  Verscend Hldg Corp Term B Loan Due      08-27-2025 Beo                          382,637
  Viasat Inc 6.5% Due 07-15-2028                          158,003
  Virgin Media Fin 5% Due 07-15-2030                          237,588
         

 

 (continued)

 

64 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Corporate debt instruments (continued)        
  Voc Escrow Ltd 5% Due 02-15-2028                          192,545
  Weekley Homes Llc 4.875% Due 09-15-2028                          247,665
  Wells Fargo & Co 2.509% Snr 27/10/23    Cad5000                          410,122
  Wells Fargo & Co New Nt Fltg Due        10-31-2023/10-31-2022 Reg                          711,060
  Wells Fargo Home Fltg Rt .61763% Due    10-25-2034                            36,933
  Wesco Distr Inc 5.375% Due 06-15-2024                          281,875
  West Corporation Term Loan Senior Secured Due 10-10-2024 Beo                          272,542
  Westinghouse Air Brake Technologies Corp 4.40% Due 03-15-2024                          109,438
  Westinghouse Air Brake Technologies Corp 4.7% 09-15-2028                          830,496
  William Carter Co 5.5% Due 05-15-2025                          217,707
  William Morris Endeavor Entmt Llc Term B-1 Ln  05-18-25                          281,484
  Winnebago Inds Inc 6.25% Due 07-15-2028                          129,000
  Woodside Fin Ltd Gtd Nt 4.6% Due        05-10-2021/05-10-2011 Beo                          100,390
  Wpx Energy Inc 5.25% Due 09-15-2024                            11,982
  Wpx Energy Inc 5.25% Due 10-15-2027                            87,948
  Wpx Energy Inc 5.875% Due 06-15-2028 Reg                          250,707
  Wyndham 6.625% Due 07-31-2026                          183,200
  Wyndham Destinations Inc 6.0% Due       04-01-2027/03-21-2017 Reg                            44,800
  Wyndham Step Cpn 5.65% Due 04-01-2024                            64,800
  Wyndham Worldwide Corp 3.9%             Due 03-01-2023 Reg                            91,800
           
  Derivative investments        
* AQR Syn_Swap 0.0 19 Mar 2021 Smh1 Index Fsmih21_Sw                     14,235,442
* AQR Syn_Swap 0.0 28 Jan 2021 Hif1 Index Hsif21_Sw                       5,441,097
* AQR Syn_Swap 0.0 29 Jan 2021 Taf1 Index Ta35F21_Sw                       1,634,071
* AQR Syn_Swap 0.0 28 Jan 2021 Hif1 Index Hsif21_Sw                       1,053,116
  Barclays Capital Put Swo Eur Barcgb33 P 0.197% / R 6Meurib European 317U026X0 04/11/2022                          22,833
  BNP Paribas Paris Put Swo Eur Bnpafrpp P 0.195% / R 6Meurib European 317U956W6 02/11/2022                          35,940
  BNP Paribas Paris Put Swo Eur Bnpafrpp P 0.197% / R 6Meurib European 317U004X6 04/11/2022                          75,022
  Citigroup Global Markets Lch_Rpi Sbsius33 07/25/2021 Usd P 1.432% / R Cpi Swu0Jd801                                   90
  Citigroup Global Markets Lch_Rpi Sbsius33 08/06/2021 Usd P 1.432% / R Cpi Swu0Za536                                 305
  Citigroup Global Markets Lch_Rpi Sbsius33 10/01/2021 Usd P 1.487% / R Cpi Swu0Fc195                              1,223
  Citigroup Global Markets Cdx Sbnyus33 08/17/2061 Sell Cmbx.Na.Aaa.12 Swpc0Htx7                              1,596
  Citigroup Global Markets Lch_Rpi Sbsius33 15/11/2028 Gbp P Rpi / R 3.603% Swu0X8517                              1,949
  Citigroup Global Markets Lch_Rpi Sbsius33 15/07/2022 Eur P 0.33% / R Cptfe Swu045A43                              3,802
  Citigroup Global Markets Lch_Rpi Sbsius33 15/11/2024 Gbp P Rpi / R 3.386% Swu0Jd652                              4,536
  Citigroup Global Markets Lch_Rpi Sbsius33 15/11/2039 Eur P Fpcpx / R 1.41% Swu0Je262                              4,813
  Citigroup Global Markets Rpi Usd 1.55%/Us Cpi Lch_Sbsius         07-26-2021 Swu0C8494                              5,212
  Citigroup Global Markets Lch_Rpi Sbsius33 15/05/2022 Eur P 0.09% / R Cptfe Swu09Nv53                              7,544
  Citigroup Global Markets Rpi Usd Us Cpi/2.3525% Lch_Sbsius       05-09-2028 Swu080215                              8,053
  Citigroup Global Markets Lch_Rpi Sbsius33 15/12/2028 Gbp P Rpi / R 3.632% Swu084084                            10,269
  Citigroup Global Markets Rpi Usd Us Cpi/2.36% Lch_Sbsius         05-09-2028 Swu02Y712                            12,347
  Citigroup Global Markets Rpi Usd Us Cpi/2.364% Lch_Sbsius        05-10-2028 Swu0Z3011                            12,464
  Citigroup Global Markets Rpi Usd Us Cpi/2.335% Lch_Sbsius        02-05-2028 Swu0Y9274                            22,574
  Citigroup Global Markets Lch_Rpi Sbsius33 15/08/2030 Gbp P Rpi / R 3.475% Swu09Cc17                            39,898
         

 

 (continued)

 

65 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Derivative investments (continued)        
  Citigroup Global Markets Lch_Rpi Sbsius33 15/09/2024 Gbp P Rpi / R 3.85% Swu0Jd561                            68,704
  Citigroup Global Markets Lch_Rpi Sbsius33 15/01/2025 Gbp P Rpi / R 3.33% Swu045V16                          159,511
  Credit Suisse International Lch_Irs Csfbus33 17/03/2031 Jpy P 0.25% / R 6Mlibor Swu00W8H2                              2,199
  Credit Suisse International Lch_Irs Csfbus33 20/03/2024 Jpy P 6Mlibor / R 0.1% Swu00Ps44                            15,403
  Credit Suisse International Ice_Cdx Csfbus33 12/20/2025 Sell Cdx.Na.Ig.35 Swpc0Jj30                            58,803
  Credit Suisse International Ice_Cdx Csfbus33 20/12/2025 Sell Itraxx Europe Crossove Swpc0Jix5                          170,951
  CSFB Cds Ice_Sbsius 12-20-2023 Swpc0Hj26                              1,269
  Glodman Sachs and Co Ice_Cds Goldus33 12/20/2024 Sell General Electric Co 2. Swpc0Iit6                                 928
  Glodman Sachs and Co Cds Ice_Goldus 06-20-2023 Swpc0Gqg9                              2,360
  Glodman Sachs and Co Ice_Cdx Goldus33 06/20/2024 Sell Cdx.Na.Ig.32 Swpc0Hy52                              6,501
  Glodman Sachs and Co Ice_Cdx Goldus33 06/20/2025 Sell Cdx.Na.Ig.34 Swpc0J5G6                            27,801
  Glodman Sachs and Co Lch_Irs Goldus33 03/30/2051 Usd P 1.15% / R 3Mlibor Swu015Hx5                            54,315
  Glodman Sachs and Co Ice_Cdx Goldus33 12/20/2024 Sell Cdx.Na.Ig.33 Swpc0Ija6                          152,037
  Glodman Sachs and Co Ice_Cdx Goldus33 12/20/2025 Sell Cdx.Na.Ig.35 Swpc0Jj30                          156,808
  Goldman Sachs International London Cds / Sts Gsilgb2X 10-17-2057 Swpc0Atk0                              6,015
  HSBC Bank USA, N.A. Put Fxo Mrmdus33 07/01/2021 Gbp/Usd 1.315 European 31750Hgm5                                 290
  JP Morgan Chase Bank, N.A. Eis Chasus33 03/17/2021 Usd 1Mlibor/Msci Daily Tr  Aqr11867376                              1,260
  Citigroup Global Markets Lch_Rpi Sbsius33 15/05/2022 Eur P 0.09% / R Cptfe Swu09Nv53                            20,417
  Citigroup Global Markets Lch_Rpi Sbsius33 15/07/2022 Eur P 0.33% / R Cptfe Swu045A43                            30,735
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  CHF  USD EX.RATE     0.898212                                 92
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  CHF  USD EX.RATE     0.898214                                 92
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  DKK  USD EX.RATE     6.197834                               252
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  DKK  USD EX.RATE     6.197839                               252
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  EUR  USD EX.RATE     0.828328                                 18
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  EUR  USD EX.RATE     0.828335                                 18
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  EUR  USD EX.RATE     0.832538                          16,481
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  EUR  USD EX.RATE     0.832539                          16,482
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  GBP  USD EX.RATE     0.747244                               161
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  GBP  USD EX.RATE     0.747245                               161
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  ILS  USD EX.RATE     3.298387                               169
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  ILS  USD EX.RATE     3.298387                               169
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  ILS  USD EX.RATE     3.300394                          10,813
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  ILS  USD EX.RATE     3.300399                          10,814
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  NZD  USD EX.RATE     1.424121                          28,331
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  NZD  USD EX.RATE     1.424123                          28,332
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  SGD  USD EX.RATE     1.339029                               148
  Citibank N.A. FX DEAL TRANSACTED ON 01 DEC, 2020  SGD  USD EX.RATE     1.339031                               148
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  AUD  USD EX.RATE     1.354565                          74,561
  Citibank N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  AUD  USD EX.RATE     1.354566                          74,563
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  DKK  USD EX.RATE     6.159980                               782
  Citibank N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  DKK  USD EX.RATE     6.159988                               782
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  NZD  USD EX.RATE     1.415711                          10,620
  Citibank N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  NZD  USD EX.RATE     1.415713                          10,620
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  NZD  USD EX.RATE     1.416431                          22,342
  Citibank N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  NZD  USD EX.RATE     1.416433                          22,343
         

 

 (continued)

 

66 -

 

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, 2020        
            (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 02 DEC, 2020  SGD  USD EX.RATE     1.337137                               313
  Citibank N.A. FX DEAL TRANSACTED ON 02 DEC, 2020  SGD  USD EX.RATE     1.337139                               313
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  DKK  USD EX.RATE     6.120664                                 79
  Citibank N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  DKK  USD EX.RATE     6.120670                                 79
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  NZD  USD EX.RATE     1.415952                          17,717
  Citibank N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  NZD  USD EX.RATE     1.415953                          17,718
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  USD  HKD EX.RATE     0.129010                                   5
  Citibank N.A. FX DEAL TRANSACTED ON 03 DEC, 2020  USD  HKD EX.RATE     0.129010                                   5
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  NZD  USD EX.RATE     1.416578                          14,968
  Citibank N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  NZD  USD EX.RATE     1.416579                          14,969
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  SGD  USD EX.RATE     1.334452                                 88
  Citibank N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  SGD  USD EX.RATE     1.334454                                 88
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  USD  HKD EX.RATE     0.129020                                 15
  Citibank N.A. FX DEAL TRANSACTED ON 04 DEC, 2020  USD  HKD EX.RATE     0.129020                                 15
  HSBC Bank USA, N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  AUD  USD EX.RATE     1.353081                             6,232
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  GBP  USD EX.RATE     0.754392                          18,019
  Citibank N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  GBP  USD EX.RATE     0.754393                          18,020
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  NOK  USD EX.RATE     8.874846                                 61
  Citibank N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  NOK  USD EX.RATE     8.874899                                 61
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  NZD  USD EX.RATE     1.420259                            5,281
  Citibank N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  NZD  USD EX.RATE     1.420261                            5,281
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  SGD  USD EX.RATE     1.334425                                 99
  Citibank N.A. FX DEAL TRANSACTED ON 07 DEC, 2020  SGD  USD EX.RATE     1.334428                                 99
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  DKK  USD EX.RATE     6.123063                               348
  Citibank N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  DKK  USD EX.RATE     6.123070                               348
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  EUR  USD EX.RATE     0.822225                            6,733
  Citibank N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  EUR  USD EX.RATE     0.822226                            6,734
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  GBP  USD EX.RATE     0.748666                               287
  Citibank N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  GBP  USD EX.RATE     0.748667                               287
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  ILS  USD EX.RATE     3.251102                                 43
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 08 DEC, 2020  ILS  USD EX.RATE     3.251102                                 43
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 09 DEC, 2020  EUR  USD EX.RATE     0.822020                            2,429
  Citibank N.A. FX DEAL TRANSACTED ON 09 DEC, 2020  EUR  USD EX.RATE     0.822021                            2,429
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 09 DEC, 2020  GBP  USD EX.RATE     0.744759                            1,069
  Citibank N.A. FX DEAL TRANSACTED ON 09 DEC, 2020  GBP  USD EX.RATE     0.744760                            1,069
  Citibank N.A. FX DEAL TRANSACTED ON 09 NOV, 2020  USD  PEN EX.RATE     0.277878                            1,355
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  DKK  USD EX.RATE     6.138415                               208
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  DKK  USD EX.RATE     6.138424                               208
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  GBP  USD EX.RATE     0.750574                            1,904
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  GBP  USD EX.RATE     0.750575                            1,904
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  ILS  USD EX.RATE     3.249681                                 50
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  ILS  USD EX.RATE     3.249681                                 50
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  NOK  USD EX.RATE     8.831413                                 90
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  NOK  USD EX.RATE     8.831413                                 90
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  USD  HKD EX.RATE     0.128999                                   1
         

 

 (continued)

 

67 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Derivative investments (continued)        
  Citibank N.A. FX DEAL TRANSACTED ON 10 DEC, 2020  USD  HKD EX.RATE     0.129000                                   1
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 11 DEC, 2020  EUR  USD EX.RATE     0.822210                            7,802
  Citibank N.A. FX DEAL TRANSACTED ON 11 DEC, 2020  EUR  USD EX.RATE     0.822211                            7,803
  Deutsche Bank AG FX DEAL TRANSACTED ON 11 SEP, 2020  USD  PEN EX.RATE     0.279095                            3,433
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  CHF  USD EX.RATE     0.885223                            3,106
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  CHF  USD EX.RATE     0.885224                            3,107
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  DKK  USD EX.RATE     6.109302                               152
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  DKK  USD EX.RATE     6.109310                               152
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  EUR  USD EX.RATE     0.821222                          13,825
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  EUR  USD EX.RATE     0.821223                          13,828
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  GBP  USD EX.RATE     0.745457                               561
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  GBP  USD EX.RATE     0.745458                               561
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  ILS  USD EX.RATE     3.247385                                 45
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  ILS  USD EX.RATE     3.247395                                 45
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  JPY  USD EX.RATE   103.830480                            6,460
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  JPY  USD EX.RATE   103.830610                            6,461
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  SGD  USD EX.RATE     1.334534                               732
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  SGD  USD EX.RATE     1.334536                               732
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  USD  HKD EX.RATE     0.129008                                   4
  Citibank N.A. FX DEAL TRANSACTED ON 14 DEC, 2020  USD  HKD EX.RATE     0.129009                                   4
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  AUD  USD EX.RATE     1.325017                            5,430
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  AUD  USD EX.RATE     1.325019                            5,430
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  DKK  USD EX.RATE     6.110228                                   5
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  DKK  USD EX.RATE     6.110228                                   5
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  DKK  USD EX.RATE     6.115294                               273
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  DKK  USD EX.RATE     6.115302                               273
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  EUR  USD EX.RATE     0.820611                               992
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  EUR  USD EX.RATE     0.820612                               993
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  GBP  USD EX.RATE     0.750417                            2,851
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  GBP  USD EX.RATE     0.750418                            2,851
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  SEK  USD EX.RATE     8.371563                                   6
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  SEK  USD EX.RATE     8.371563                                   6
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  SGD  USD EX.RATE     1.333688                               182
  Citibank N.A. FX DEAL TRANSACTED ON 15 DEC, 2020  SGD  USD EX.RATE     1.333690                               182
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  AUD  USD EX.RATE     1.323548                            1,217
  Citibank N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  AUD  USD EX.RATE     1.323549                            1,218
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  ILS  USD EX.RATE     3.243480                                 96
  Citibank N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  ILS  USD EX.RATE     3.243488                                 96
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  SGD  USD EX.RATE     1.332914                               206
  Citibank N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  SGD  USD EX.RATE     1.332916                               206
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  USD  HKD EX.RATE     0.129010                                   2
  Citibank N.A. FX DEAL TRANSACTED ON 16 DEC, 2020  USD  HKD EX.RATE     0.129010                                   2
  Citibank N.A. FX DEAL TRANSACTED ON 17 DEC, 2020  USD  BRL EX.RATE     0.197525                            1,771
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 17 DEC, 2020  USD  CHF EX.RATE     1.136169                               199
  Citibank N.A. FX DEAL TRANSACTED ON 17 DEC, 2020  USD  CHF EX.RATE     1.136170                               199
         

 

 (continued)

 

68 -

 

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, 2020        
            (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 18 DEC, 2020  AUD  USD EX.RATE     1.312157                               705
  Citibank N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  AUD  USD EX.RATE     1.312158                               705
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  SGD  USD EX.RATE     1.326772                                 27
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  SGD  USD EX.RATE     1.326772                                 27
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  USD  DKK EX.RATE     0.165108                                 15
  Citibank N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  USD  DKK EX.RATE     0.165108                                 15
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  USD  HKD EX.RATE     0.128998                                   1
  Citibank N.A. FX DEAL TRANSACTED ON 18 DEC, 2020  USD  HKD EX.RATE     0.128998                                   1
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 18 NOV, 2020  EUR  USD EX.RATE     0.839905                               524
  Citibank N.A. FX DEAL TRANSACTED ON 18 NOV, 2020  EUR  USD EX.RATE     0.839906                               524
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  AUD  USD EX.RATE     1.369865                          92,716
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  AUD  USD EX.RATE     1.369867                          92,718
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  EUR  USD EX.RATE     0.842768                          40,284
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  EUR  USD EX.RATE     0.842769                          40,286
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  ILS  USD EX.RATE     3.347758                               269
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  ILS  USD EX.RATE     3.347764                               269
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  ILS  USD EX.RATE     3.348447                          16,123
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  ILS  USD EX.RATE     3.348451                          16,124
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  NOK  USD EX.RATE     9.063931                            3,701
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  NOK  USD EX.RATE     9.063943                            3,701
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  NZD  USD EX.RATE     1.447801                          46,372
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  NZD  USD EX.RATE     1.447803                          46,373
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  SGD  USD EX.RATE     1.342407                               217
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  SGD  USD EX.RATE     1.342408                               217
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  SGD  USD EX.RATE     1.342564                               339
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  SGD  USD EX.RATE     1.342566                               339
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  USD  HKD EX.RATE     0.129010                                 16
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  USD  HKD EX.RATE     0.129010                                 16
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  USD  HKD EX.RATE     0.129011                                 39
  Citibank N.A. FX DEAL TRANSACTED ON 19 NOV, 2020  USD  HKD EX.RATE     0.129011                                 39
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  AUD  USD EX.RATE     1.372686`                          96,019
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  AUD  USD EX.RATE     1.372687                          96,021
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  HKD  USD EX.RATE     7.752396                                   1
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  HKD  USD EX.RATE     7.752407                                   1
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  JPY  USD EX.RATE   103.677281                          33,493
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  JPY  USD EX.RATE   103.677411                          33,501
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  NOK  USD EX.RATE     9.005772                            3,291
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  NOK  USD EX.RATE     9.005783                            3,291
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  NZD  USD EX.RATE     1.446865                          45,670
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  NZD  USD EX.RATE     1.446866                          45,671
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  SGD  USD EX.RATE     1.343931                               309
  Citibank N.A. FX DEAL TRANSACTED ON 20 NOV, 2020  SGD  USD EX.RATE     1.343934                               309
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  AUD  USD EX.RATE     1.316050                            3,997
  Citibank N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  AUD  USD EX.RATE     1.316052                            3,997
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  GBP  USD EX.RATE     0.752463                            7,103
         

 

 (continued)

 

69 -

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Derivative investments (continued)        
  Citibank N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  GBP  USD EX.RATE     0.752464                            7,103
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  ILS  USD EX.RATE     3.252958                               106
  Citibank N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  ILS  USD EX.RATE     3.252962                               106
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  USD  JPY EX.RATE     0.009695                               205
  Citibank N.A. FX DEAL TRANSACTED ON 21 DEC, 2020  USD  JPY EX.RATE     0.009695                               206
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  AUD  USD EX.RATE     1.319031                            2,132
  Citibank N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  AUD  USD EX.RATE     1.319033                            2,132
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  EUR  USD EX.RATE     0.816888                                 12
  Citibank N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  EUR  USD EX.RATE     0.816888                                 12
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  GBP  USD EX.RATE     0.747100                          78,281
  Citibank N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  GBP  USD EX.RATE     0.747101                          78,286
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  ILS  USD EX.RATE     3.228694                                 54
  Citibank N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  ILS  USD EX.RATE     3.228698                                 54
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  USD  DKK EX.RATE     0.164874                                 29
  Citibank N.A. FX DEAL TRANSACTED ON 22 DEC, 2020  USD  DKK EX.RATE     0.164874                                 29
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  AUD  USD EX.RATE     1.322403                          18,145
  Citibank N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  AUD  USD EX.RATE     1.322404                          18,146
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  DKK  USD EX.RATE     6.089191                                 83
  Citibank N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  DKK  USD EX.RATE     6.089199                                 83
  Citibank N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  NOK  USD EX.RATE     8.713750                                 70
  Citibank N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  NOK  USD EX.RATE     8.713750                                 70
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  SGD  USD EX.RATE     1.334794                                 60
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  SGD  USD EX.RATE     1.334794                                 60
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  USD  HKD EX.RATE     0.129011                                   4
  Citibank N.A. FX DEAL TRANSACTED ON 23 DEC, 2020  USD  HKD EX.RATE     0.129011                                   4
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  DKK  USD EX.RATE     6.254102                               423
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  DKK  USD EX.RATE     6.254106                               423
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  EUR  USD EX.RATE     0.840202                          36,539
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  EUR  USD EX.RATE     0.840203                          36,540
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  ILS  USD EX.RATE     3.334719                               180
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  ILS  USD EX.RATE     3.334726                               180
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.972706                                 88
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.972706                                 88
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.972755                                 88
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.972755                                 88
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.980505                            3,112
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NOK  USD EX.RATE     8.980516                            3,112
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NZD  USD EX.RATE     1.438034                          39,003
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NZD  USD EX.RATE     1.438036                          39,004
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NZD  USD EX.RATE     1.438131                            2,612
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  NZD  USD EX.RATE     1.438133                            2,612
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  SGD  USD EX.RATE     1.341608                               324
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  SGD  USD EX.RATE     1.341610                               324
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  USD  HKD EX.RATE     0.129000                                   1
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  USD  HKD EX.RATE     0.129000                                   1
         

 

 (continued)

 

 

 

70 -

 

 

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, 2020        
            (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 23 NOV, 2020  USD  HKD EX.RATE     0.129000                                 13
  Citibank N.A. FX DEAL TRANSACTED ON 23 NOV, 2020  USD  HKD EX.RATE     0.129000                                 13
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 DEC, 2020  AUD  USD EX.RATE     1.316841                            2,791
  Citibank N.A. FX DEAL TRANSACTED ON 24 DEC, 2020  AUD  USD EX.RATE     1.316843                            2,791
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 DEC, 2020  ILS  USD EX.RATE     3.209911                                   8
  Citibank N.A. FX DEAL TRANSACTED ON 24 DEC, 2020  ILS  USD EX.RATE     3.209915                                   8
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  AUD  USD EX.RATE     1.365501                          87,579
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  AUD  USD EX.RATE     1.365503                          87,581
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  DKK  USD EX.RATE     6.250446                            1,471
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  DKK  USD EX.RATE     6.250454                            1,471
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  EUR  USD EX.RATE     0.839600                            2,706
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  ILS  USD EX.RATE     3.334444                                 60
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  ILS  USD EX.RATE     3.334444                                 60
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  JPY  USD EX.RATE   104.381378                          25,759
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  JPY  USD EX.RATE   104.381508                          25,762
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  NOK  USD EX.RATE     8.993357                            3,203
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  NOK  USD EX.RATE     8.993368                            3,203
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  NZD  USD EX.RATE     1.431679                          34,154
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  NZD  USD EX.RATE     1.431681                          34,155
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  SGD  USD EX.RATE     1.343792                                 94
  Citibank N.A. FX DEAL TRANSACTED ON 24 NOV, 2020  SGD  USD EX.RATE     1.343794                                 94
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  EUR  USD EX.RATE     0.836965                          31,780
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  EUR  USD EX.RATE     0.836966                          31,782
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  ILS  USD EX.RATE     3.320853                               188
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  ILS  USD EX.RATE     3.320859                               188
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  JPY  USD EX.RATE   104.399775                            2,215
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  JPY  USD EX.RATE   104.399911                            2,215
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  NZD  USD EX.RATE     1.430953                          33,597
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  NZD  USD EX.RATE     1.430955                          33,599
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  NZD  USD EX.RATE     1.433296                            6,939
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  NZD  USD EX.RATE     1.433298                            6,939
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  SGD  USD EX.RATE     1.341582                                 79
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  SGD  USD EX.RATE     1.341584                                 79
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  SGD  USD EX.RATE     1.341657                               325
  Citibank N.A. FX DEAL TRANSACTED ON 25 NOV, 2020  SGD  USD EX.RATE     1.341659                               325
  BNP Paribas Paris FX DEAL TRANSACTED ON 28 DEC, 2020  GBP  USD EX.RATE     0.740925                            2,703
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  AUD  USD EX.RATE     1.312668                               160
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  AUD  USD EX.RATE     1.312669                               160
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  AUD  USD EX.RATE     1.316010                          14,054
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  AUD  USD EX.RATE     1.316011                          14,055
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  GBP  USD EX.RATE     0.739811                            4,414
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  GBP  USD EX.RATE     0.739812                            4,414
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  ILS  USD EX.RATE     3.210153                                 12
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  ILS  USD EX.RATE     3.210155                                 12
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  JPY  USD EX.RATE   103.559482                               970
         

 

 (continued)

 

71 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Derivative investments (continued)        
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  JPY  USD EX.RATE   103.559612                               971
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  SGD  USD EX.RATE     1.327410                               336
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  SGD  USD EX.RATE     1.327412                               336
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  SGD  USD EX.RATE     1.328733                                 43
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  SGD  USD EX.RATE     1.328735                                 43
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  DKK EX.RATE     0.165217                               173
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  DKK EX.RATE     0.165217                               174
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  HKD EX.RATE     0.128997                                   4
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  HKD EX.RATE     0.128997                                   4
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  SEK EX.RATE     0.122243                               596
  Citibank N.A. FX DEAL TRANSACTED ON 29 DEC, 2020  USD  SEK EX.RATE     0.122243                               597
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  GBP  USD EX.RATE     0.735142                                   7
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  GBP  USD EX.RATE     0.735142                                   7
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  NOK  USD EX.RATE     8.585469                                   4
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  NOK  USD EX.RATE     8.585469                                   4
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  CHF EX.RATE     1.134700                                   1
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  DKK EX.RATE     0.165363                                 10
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  DKK EX.RATE     0.165363                                 10
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  EUR EX.RATE     1.227973                               235
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  EUR EX.RATE     1.227975                               235
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  EUR EX.RATE     1.228820                               510
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  HKD EX.RATE     0.129008                                 10
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  HKD EX.RATE     0.129008                                 10
  Citibank N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  JPY EX.RATE     0.009711                                 21
* State Street  FX DEAL TRANSACTED ON 30 DEC, 2020  USD  NOK EX.RATE     0.116873                                 10
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  SEK EX.RATE     0.121988                                   2
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 DEC, 2020  USD  SEK EX.RATE     0.121988                                   2
* State Street  FX DEAL TRANSACTED ON 30 DEC, 2020  USD  SEK EX.RATE     0.122131                                 84
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  AUD  USD EX.RATE     1.357200                          23,915
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  AUD  USD EX.RATE     1.357202                          23,915
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  CHF  USD EX.RATE     0.902168                            4,932
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  CHF  USD EX.RATE     0.902169                            4,932
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  DKK  USD EX.RATE     6.199895                               519
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  DKK  USD EX.RATE     6.199903                               519
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  EUR  USD EX.RATE     0.832540                          25,217
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  EUR  USD EX.RATE     0.832541                          25,219
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  GBP  USD EX.RATE     0.748634                            1,559
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  GBP  USD EX.RATE     0.748635                            1,559
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  ILS  USD EX.RATE     3.311039                               344
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  ILS  USD EX.RATE     3.311045                               344
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  JPY  USD EX.RATE   103.716562                               831
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  JPY  USD EX.RATE   103.716690                               831
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  JPY  USD EX.RATE   103.743181                          37,757
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  JPY  USD EX.RATE   103.743310                          37,766
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  NOK  USD EX.RATE     8.829242                                 67
         

 

 (continued)

 

 

72 -

 

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, 2020        
            (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 30 NOV, 2020  NOK  USD EX.RATE     8.829242                                 67
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  NZD  USD EX.RATE     1.423129                          58,190
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  NZD  USD EX.RATE     1.423131                          58,193
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  NZD  USD EX.RATE     1.423489                          27,841
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  NZD  USD EX.RATE     1.423491                          27,842
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SEK  USD EX.RATE     8.507094                            1,253
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SEK  USD EX.RATE     8.507104                            1,253
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SGD  USD EX.RATE     1.337001                               275
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SGD  USD EX.RATE     1.337002                               275
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SGD  USD EX.RATE     1.337031                               251
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  SGD  USD EX.RATE     1.337033                               251
  JP Morgan Chase Bank, N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  USD  HKD EX.RATE     0.129011                                 18
  Citibank N.A. FX DEAL TRANSACTED ON 30 NOV, 2020  USD  HKD EX.RATE     0.129011                                 18
  Citibank N.A. FX DEAL TRANSACTED ON 30 OCT, 2020  USD  PEN EX.RATE     0.276686                               358
  Barclays Bank Plc Wholesale FX DEAL TRANSACTED ON 31 DEC, 2020  BRL  USD EX.RATE     5.196700                                 31
  Standard Chartered Plc Shs FX DEAL TRANSACTED ON 31 DEC, 2020  EUR  USD EX.RATE     0.817293                               223
* State Street  FX DEAL TRANSACTED ON 31 DEC, 2020  USD  MXN EX.RATE     0.050193                                   1
           
  Repurchase agreements        
* PIMCO Agreement to repurchase W/Bofa Secu .1% From   12-31-2020 To 01-04-2021                     7,000,000
* PIMCO Agreement to repurchase W/Toronto D .09% From  12-31-2020 To 01-04-2021                   12,200,000
* BlackRock Agreement to repurchase  W/Bofa Secu   .08% From 12-31-2020 To 01-04-2021                   45,000,000
* BlackRock Agreement to repurchase  W/Goldman,    .07% From 12-31-2020 To 01-04-2021                   42,000,000
* BlackRock Agreement to repurchase  W/Mizuho Se   .07% From 12-31-2020 To 01-04-2021                   42,000,000
* BlackRock Agreement to repurchase  W/Natixis C   .06% From 12-31-2020 To 01-04-2021                   35,000,000
* BlackRock Agreement to repurchase  W/Natixis C   .08% From 12-31-2020 To 01-04-2021                   25,000,000
* BlackRock Agreement to repurchase  W/Td Securi   .07% From 12-31-2020 To 01-04-2021                   45,000,000
           
  Collective Trust Fund        
* AQR Aqr Emerging Equities Collective Investment Fund - Class D 372,618,044 Shares                 372,618,044
* Blackrock Blackrock Emerging Markets Index Nl Fund F 124,665,866 Shares                   124,665,866
* Blackrock Blackrock Equity Non Lending Class F 1,774,199,612 Shares                1,774,199,612
* Blackrock Blackrock Midcap Equity Index (S&P  Midcap 400) Nl Cl F 297,270,409 Shares                 297,270,409
* Blackrock Blackrock Msci Acwi Ex Us Imi       Index Nl Und Cl F 300,793,997 Shares                   300,793,997
* Blackrock Blackrock Russell 2000 Index Nl 307,826,229 Shares                   307,826,229
* Blackrock Blackrock Us Debt Index Non Lendablefund F 218,498,598 Shares                   218,498,598
* Northern Trust Coltv Short Term Invt Fd 110,491,959 Shares                   110,491,959
* PIMCO Pimco Short Term Floating Nav Ii 6,910,556 Shares                       6,910,556
* State Street Ssga Global Reit 23,776,159 Shares                     23,776,159
* State Street Ssga Target Retirement 2025 Nl Fund 299,326,267 Shares                   299,326,267
* State Street Ssga Target Retirement 2035 Nl Fund 449,208,449 Shares                   449,208,449
* State Street Ssga Target Retirement 2045 Nl Fund 291,115,399 Shares                   291,115,399
* State Street Ssga Target Retirement 2055 Nl Fund 165,006,097 Shares                   165,006,097
* State Street Ssga Target Retirement 2060 Nl Fund 85,501,101 Shares                     85,501,101
* State Street Ssga Target Retirement 2065 605,758 Shares                       7,267,282
         

 

 (continued)

 

 

73 -

 

 

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, 2020        
            (e)  
  (b) (c)  (d)      Current   
(a) Identity of Issuer Description of Investment  Cost**      Value  
  Collective Trust Fund (continued)        
* State Street Ssga Us Hi Yield Bd Index Nl Sf Cl A 33,010,935 Shares                     33,010,935
* State Street Invt Fds Tx Exmp  Ssga Target Ret 2020 Non-Len Ser Fd Cl A 148,777,372 Shares                 148,777,372
* State Street Invt Fds Tx Exmp  Ssga Target Ret 2030 Non-Len Ser Fd Cl A 340,773,817 Shares                 340,773,817
* State Street Invt Fds Tx Exmp  Ssga Target Ret 2040 Non-Len Ser Fd Cl A 300,402,375 Shares                 300,402,375
* State Street Invt Fds Tx Exmp  Ssga Target Ret Inc Non-Len Ser Fd Cl A 184,905,153 Shares                 184,905,153
* State Street Ssga Retirement 2050 Nl Fund 243,639,468 Shares                   243,639,468
* Wellington Wellington Opportunistic Emerging   Markets Debt (Series 1) 59,330,205 Shares                   59,330,205
           
  Participant-directed investments at fair value            15,328,203,825
           
* Various Participants  Participant Loans (secured by account, rates ranging from                   118,114,863
    4.25% to 9.25% with maturity dates ranging from 2020 to 2036)      
           
  * 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) 

 

 

 

74 -

 

 

 

 

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