Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
MORGAN STANLEY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1 NEW YORK PLAZA 5TH FLOOR
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY100041901
A Employer identification number

13-6155650
B Telephone number (see instructions)

(212) 761-4000
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$18,553,048J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,162 1,162  
4 Dividends and interest from securities... 598,065 616,232  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 423,904
b Gross sales price for all assets on line 6a 6,824,054
7 Capital gain net income (from Part IV, line 2)... 423,904
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
448 642  
12 Total. Add lines 1 through 11........ 1,023,579 1,041,940  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
5,035 5,035   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
22,020 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......   974    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 27,055 6,009   0
25 Contributions, gifts, grants paid....... 120,000 4,136,200
26 Total expenses and disbursements. Add lines 24 and 25 147,055 6,009   4,136,200
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 876,524
b Net investment income (if negative, enter -0-) 1,035,931
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 2,070,682 745,184 745,184
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 51,466 29,594 29,594
10a Investments—U.S. and state government obligations (attach schedule) 1,002,636 Click to see attachment
List of Attached Documents:
// Content
948,643 		948,643
b Investments—corporate stock (attach schedule)....... 5,617,270 Click to see attachment
List of Attached Documents:
// Content
5,132,421 		5,132,421
c Investments—corporate bonds (attach schedule)....... 736,219 Click to see attachment
List of Attached Documents:
// Content
622,752 		622,752
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 11,599,782 Click to see attachment
List of Attached Documents:
// Content
11,063,467 		11,063,467
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
12,117 		Click to see attachment
List of Attached Documents:
// Content
10,987 		Click to see attachment
List of Attached Documents:
// Content
10,987
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 21,090,172 18,553,048 18,553,048
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 10,347,480 6,499,881
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 10,347,480 6,499,881
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 10,742,692 12,053,167
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 10,742,692 12,053,167
30 Total liabilities and net assets/fund balances (see instructions). 21,090,172 18,553,048
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
10,742,692
2
Enter amount from Part I, line 27a .....................
2
876,524
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
602,552
4
Add lines 1, 2, and 3 ..........................
4
12,221,768
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
168,601
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
12,053,167
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b JLL INCOME PROPERTY TRUST, INC. CLASS M-I 4,618.938 SHARES P 2021-11-01 2023-12-06
c JLL INCOME PROPERTY TRUST, INC. CLASS M-I 16,189.759 SHARES P 2021-11-01 2023-09-20
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,549,054   6,132,342 416,712
b 60,000   59,446 554
c 215,000   208,362 6,638
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       416,712
b       554
c       6,638
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 423,904
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 14,399
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 14,399
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 14,399
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 47,219
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 47,219
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 32,820
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow32,820 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNY
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
Yes
 
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowGISELLE G LOPEZ Telephone no.right arrow (917) 260-0521

Located atright arrow1 NEW YORK PLAZA 5TH FLOORNEW YORKNY ZIP+4right arrow100041901
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
ABRUZZO CRAIG TRUSTEE, FINANCE CHAIR
0.50 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
AKWABOAH PETER TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
CHASIN CHARLES TRUSTEE, CHAIR
0.50 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
CHOW-COSTER CYNTHIA TRUSTEE (AS OF MARCH 2023)
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
DOTSON WILLIAM J TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
GOLIA LISA TRUSTEE (THRU DECEMBER 2023)
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
HARRIS CARLA A TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
MCDADE WESLEY TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
MUSA ILEANA TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
PRUZAN JONATHAN TRUSTEE (THRU MARCH 2023)
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
REID SUSAN TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
SEGAL TATIANA TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
SLOVIK MATTHEW TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
STARK DAVID TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
TENNANT ANNE TRUSTEE (AS OF MARCH 2022)
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
WONG FOUNTAIN VALERIE TRUSTEE
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
YESHAYA SHARON TRUSTEE (AS OF MARCH 2023)
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
STEINBERG JOAN PRESIDENT
8.00 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
18,443,329
b
Average of monthly cash balances.......................
1b
1,812,760
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
20,256,089
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
20,256,089
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
303,841
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
19,952,248
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
997,612
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
997,612
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
14,399
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
14,399
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
983,213
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
983,213
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
983,213
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
4,136,200
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
4,136,200
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 983,213
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 10,012
b From 2019......  
c From 2020......  
d From 2021...... 4,376,290
e From 2022...... 2,936,495
f Total of lines 3a through e ........ 7,322,797
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 4,136,200
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 983,213
e Remaining amount distributed out of corpus 3,152,987
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 10,475,784
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		10,012
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		10,465,772
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021.... 4,376,290
d Excess from 2022.... 2,936,495
e Excess from 2023.... 3,152,987
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

A BETTER CHANCE INC

253 W 35TH STREET 15TH FLOOR
NEW YORK,NY100011907 		N/A PC DIVERSITY SCHOLARSHIPS 300,000

AMERICA NEEDS YOU

82 NASSAU STREET PMB 60358
NEW YORK,NY100383703 		N/A PC DIVERSITY SCHOLARSHIPS 250,000

AMERICAN INDIAN COLLEGE FUND

8333 GREENWOOD BOULEVARD SUITE 120
DENVER,CO802214483 		N/A PC DIVERSITY SCHOLARSHIPS 20,000

BRAVEN INCORPORATED

100 N LA SALLE STREET SUITE 310
CHICAGO,IL606022406 		N/A PC DIVERSITY SCHOLARSHIPS 500,000

COLLEGE POSSIBLE

755 PRIOR AVENUE N SUITE 210
SAINT PAUL,MN551041064 		N/A PC DIVERSITY SCHOLARSHIPS 803,200

HISPANIC FEDERATION INC

55 EXCHANGE PLACE 5TH FLOOR
NEW YORK,NY100053301 		N/A PC DIVERSITY SCHOLARSHIPS 500,000

IMENTOR INCORPORATED

199 WATER STREET 8TH FLOOR
NEW YORK,NY100383586 		N/A PC DIVERSITY SCHOLARSHIPS 335,000

PREP FOR PREP

328 W 71ST STREET
NEW YORK,NY100233502 		N/A PC DIVERSITY SCHOLARSHIPS 75,000

SPONSORS FOR EDUCATIONAL OPPORTUNITY

55 EXCHANGE PLACE SUITE 601
NEW YORK,NY100053301 		N/A PC DIVERSITY SCHOLARSHIPS 487,000

THE NEW YORK WOMEN'S FOUNDATION INC

39 BROADWAY SUITE 2300
NEW YORK,NY100063003 		N/A PC DIVERSITY SCHOLARSHIPS 25,000

THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK (CUNY ASAP)

230 W 41ST STREET
NEW YORK,NY100364207 		N/A PC DIVERSITY SCHOLARSHIPS 841,000
Total .................................right arrow 3a 4,136,200
bApproved for future payment

A BETTER CHANCE INC
253 W 35TH STREET 15TH FLOOR
NEW YORK,NY100011907 		N/A PC DIVERSITY SCHOLARSHIPS 600,000

AMERICA NEEDS YOU
82 NASSAU STREET PMB 60358
NEW YORK,NY100383703 		N/A PC DIVERSITY SCHOLARSHIPS 525,000

BRAVEN INCORPORATED
100 N LA SALLE STREET SUITE 310
CHICAGO,IL606022406 		N/A PC DIVERSITY SCHOLARSHIPS 500,000

COLLEGE POSSIBLE
755 PRIOR AVENUE N SUITE 210
SAINT PAUL,MN551041064 		N/A PC DIVERSITY SCHOLARSHIPS 2,103,700

HISPANIC FEDERATION INC
55 EXCHANGE PLACE 5TH FLOOR
NEW YORK,NY100053301 		N/A PC DIVERSITY SCHOLARSHIPS 1,000,000

IMENTOR INCORPORATED
199 WATER STREET 8TH FLOOR
NEW YORK,NY100383586 		N/A PC DIVERSITY SCHOLARSHIPS 360,000

SPONSORS FOR EDUCATIONAL OPPORTUNITY
55 EXCHANGE PLACE SUITE 601
NEW YORK,NY100053301 		N/A PC DIVERSITY SCHOLARSHIPS 997,000

THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK (CUNY ASAP)
230 W 41ST STREET
NEW YORK,NY100364207 		N/A PC DIVERSITY SCHOLARSHIPS 650,100
Total ................................. right arrow 3b 6,735,800
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 1,162  
4 Dividends and interest from securities ....     14 598,065  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 423,904  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER MISCELLANEOUS INCOME 		    01 448  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,023,579 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,023,579
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 GeneralExplanationAttachment
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Identifier Return Reference Explanation
SCHEDULE OF CONTROLLED ENTITIES FORM 990-PF, PART VI-A, LINE 11 NAME OF CONTROLLED ENTITY - MORGAN STANLEY FOUNDATION, INC.EMPLOYER ID NO - 26-1226280ADDRESS - 1 NEW YORK PLAZA, 5TH FLOOR, NEW YORK, NY 10004-1901EXCESS BUSINESS HOLDINGS [ ] YES [X] NOTRANSFERS TO CONTROLLED ENTITY:AMOUNT OF TRANSFER - $0DESCRIPTION OF TRANSFER - N/ATRANSFERS FROM CONTROLLED ENTITY:AMOUNT OF TRANSFER - $0DESCRIPTION OF TRANSFER - N/A

TY 2023 InvestmentsCorpBondsSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC 3.200% 11/21/2029 (00287YBX6) 25,000 QTY 23,367 23,367
ALEXANDRIA REAL ESTATE EQUITIES INC 4.900% 12/15/2030 (015271AU3) 15,000 QTY 15,046 15,046
AMERICAN ELECTRIC POWER CO INC 1.000% 11/1/2025 (025537AR2) 25,000 QTY 23,244 23,244
AMERICAN EXPRESS CO 3.950% 8/1/2025 (025816CY3) 20,000 QTY 19,688 19,688
AMERICAN TOWER CORP 3.125% 1/15/2027 (03027XAM2) 10,000 QTY 9,464 9,464
AMGEN INC 2.200% 2/21/2027 (031162CT5) 25,000 QTY 23,258 23,258
APPLE INC 3.200% 5/11/2027 (037833CR9) 20,000 QTY 19,368 19,368
BANK OF AMERICA CORP 1.898% 7/23/2031 (06051GJF7) 35,000 QTY 28,631 28,631
BHP BILLITON FINANCE USA LTD 4.750% 2/28/2028 (055451AZ1) 15,000 QTY 15,173 15,173
BOSTON PROPERTIES LP 2.750% 10/1/2026 (10112RAY0) 10,000 QTY 9,290 9,290
CARRIER GLOBAL CORP 2.242% 2/15/2025 (14448CAN4) 7,000 QTY 6,778 6,778
CITIGROUP INC 3.200% 10/21/2026 (172967KY6) 30,000 QTY 28,637 28,637
CONSTELLATION BRANDS INC 3.700% 12/6/2026 (21036PAQ1) 10,000 QTY 9,758 9,758
CVS HEALTH CORP 3.250% 8/15/2029 (126650DG2) 30,000 QTY 27,959 27,959
DOMINION ENERGY INC 3.900% 10/1/2025 (25746UCE7) 30,000 QTY 29,454 29,454
ENTERPRISE PRODUCTS OPERATING LLC 3.900% 2/15/2024 (29379VBB8) 10,000 QTY 9,980 9,980
EQUINIX INC 3.200% 11/18/2029 (29444UBE5) 15,000 QTY 13,808 13,808
FIFTH THIRD BANCORP 6.361% 10/27/2028 (316773DJ6) 14,000 QTY 14,534 14,534
GILEAD SCIENCES INC 1.200% 10/1/2027 (375558BX0) 25,000 QTY 22,264 22,264
INTEL CORP 3.750% 8/5/2027 (458140BY5) 30,000 QTY 29,420 29,420
JPMORGAN CHASE & CO 2.580% 4/22/2032 (46647PCC8) 40,000 QTY 33,863 33,863
KINDER MORGAN INC 4.300% 6/1/2025 (49456BAF8) 15,000 QTY 14,828 14,828
MORGAN STANLEY 6.342% 10/18/2033 (61747YEY7) 15,000 QTY 16,185 16,185
NEXTERA ENERGY CAPITAL HOLDINGS INC 3.550% 5/1/2027 (65339KAT7) 20,000 QTY 19,296 19,296
PROLOGIS LP 1.250% 10/15/2030 (74340XBR1) 25,000 QTY 20,266 20,266
SEMPRA 3.400% 2/1/2028 (816851BG3) 30,000 QTY 28,640 28,640
TORONTO-DOMINION BANK/THE 0.750% 1/6/2026 (89114QCP1) 25,000 QTY 23,096 23,096
TRUIST FINANCIAL CORP 1.267% 3/2/2027 (89788MAD4) 25,000 QTY 22,909 22,909
UNITEDHEALTH GROUP INC 3.850% 6/15/2028 (91324PDK5) 30,000 QTY 29,403 29,403
US BANCORP 4.548% 7/22/2028 (91159HJF8) 19,000 QTY 18,731 18,731
VERIZON COMMUNICATIONS INC 1.750% 1/20/2031 (92343VFR0) 20,000 QTY 16,414 16,414

TY 2023 InvestmentsCorpStockSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Name of Stock End of Year Book Value End of Year Fair Market Value
ACUITY BRANDS INC (AYI) 39.445 SHARES 8,080 8,080
ADIENT PLC COM (ADNT) 138.000 SHARES 5,018 5,018
ADOBE INC (ADBE) 21.793 SHARES 13,002 13,002
ADOBE INC (ADBE) 64.567 SHARES 38,521 38,521
ADVANCED DRAIN SYS INC (WMS) 33.132 SHARES 4,660 4,660
ADYEN N V UNSPONSRED ADR (ADYEY) 1,338.000 SHARES 17,243 17,243
AFFILIATED MGRS GROUP INC (AMG) 21.420 SHARES 3,243 3,243
AGILENT TECHNOLOGIES (A) 35.266 SHARES 4,903 4,903
AIA GROUP LTD SPON ADR (AAGIY) 260.000 SHARES 9,063 9,063
AIA GROUP LTD SPON ADR (AAGIY) 660.000 SHARES 23,007 23,007
AIR LIQUIDE ADR (AIQUY) 427.000 SHARES 16,615 16,615
AIR LIQUIDE ADR (AIQUY) 443.000 SHARES 17,237 17,237
AKZO NOBEL NV ADR (AKZOY) 1,278.000 SHARES 35,209 35,209
ALASKA AIR GROUP INCORPORATED (ALK) 84.872 SHARES 3,316 3,316
ALCON INC (ALC) 267.000 SHARES 20,858 20,858
ALCON INC (ALC) 286.000 SHARES 22,342 22,342
ALFA LAVAL AB-UNSPONS ADR (ALFVY) 528.000 SHARES 21,135 21,135
ALIBABA GROUP HLDG LTD (BABA) 172.000 SHARES 13,332 13,332
ALLEGION PUB LTD CO (ALLE) 36.130 SHARES 4,577 4,577
ALLIANZ SE ADR (ALIZY) 2,166.000 SHARES 57,891 57,891
ALLIANZ SE ADR (ALIZY) 979.000 SHARES 26,166 26,166
ALPHABET INC CL A (GOOGL) 140.000 SHARES 19,557 19,557
ALSTOM ADR (ALSMY) 20,730.000 SHARES 27,903 27,903
AMADEUS IT GROUP S.A ADR (AMADY) 202.000 SHARES 14,477 14,477
AMAZON COM INC (AMZN) 167.000 SHARES 25,374 25,374
AMBEV S A SPONSORED ADR (ABEV) 4,991.000 SHARES 13,975 13,975
AMEDISYS INC (AMED) 59.030 SHARES 5,611 5,611
AMERICAN TOWER CORP (AMT) 76.853 SHARES 16,591 16,591
AMERIPRISE FINCL INC (AMP) 83.177 SHARES 31,593 31,593
AMGEN INC (AMGN) 99.135 SHARES 28,553 28,553
AMN HEALTHCARE SVCS INC (AMN) 20.119 SHARES 1,507 1,507
ANALOG DEVICES INC (ADI) 54.016 SHARES 10,725 10,725
ANHEUSER BUSCH INBEV SA SPON (BUD) 417.000 SHARES 26,947 26,947
ANSYS INC (ANSS) 90.865 SHARES 32,973 32,973
ARAMARK HOLDINGS CORPORATION (ARMK) 65.022 SHARES 1,827 1,827
ARCHROCK INC (AROC) 267.000 SHARES 4,112 4,112
ARCOSA INC (ACA) 110.000 SHARES 9,090 9,090
ARCTURUS THERAPEUTICS HLDG INC (ARCT) 115.000 SHARES 3,626 3,626
ARMADA HOFFLER PROPERTIES INC (AHH) 607.000 SHARES 7,509 7,509
ASSA ABLOY AB UNSP ADR (ASAZY) 1,122.000 SHARES 16,160 16,160
ASSA ABLOY AB UNSP ADR (ASAZY) 621.000 SHARES 8,944 8,944
ASTRAZENECA PLC ADR (AZN) 473.000 SHARES 31,857 31,857
ATLAS COPCO AS A ADR A NEW (ATLKY) 1,527.000 SHARES 26,296 26,296
ATLASSIAN CORPORATION CL A (TEAM) 45.904 SHARES 10,919 10,919
ATMOS ENERGY CP (ATO) 227.000 SHARES 26,309 26,309
ATMOS ENERGY CP (ATO) 72.172 SHARES 8,365 8,365
AUTODESK INC DELAWARE (ADSK) 112.000 SHARES 27,270 27,270
AVANTOR INC (AVTR) 472.000 SHARES 10,776 10,776
AVERY DENNISON CORPORATION (AVY) 41.307 SHARES 8,351 8,351
AXA ADS (AXAHY) 706.000 SHARES 22,999 22,999
AXSOME THERAPEUTICS INC (AXSM) 20.620 SHARES 1,641 1,641
BADGER METER INC (BMI) 62.515 SHARES 9,650 9,650
BANCO BILBAO VIZ ARG SA ADS (BBVA) 3,115.000 SHARES 28,378 28,378
BANCO BRADESCO S A NEW (BBD) 3,009.000 SHARES 10,532 10,532
BANK OZK (OZK) 149.000 SHARES 7,425 7,425
BANK RAKYAT INDONESIA ADR (BKRKY) 487.000 SHARES 9,054 9,054
BARCLAYS PLC ADR (BCS) 4,903.000 SHARES 38,636 38,636
BAYER AG SPON ADR (BAYRY) 1,038.000 SHARES 9,640 9,640
BEACON ROOFING SUPPLY INC (BECN) 63.280 SHARES 5,507 5,507
BELDEN INC (BDC) 37.633 SHARES 2,907 2,907
BIONTECH SE ADR (BNTX) 168.000 SHARES 17,731 17,731
BLACKLINE INC (BL) 89.788 SHARES 5,606 5,606
BLACKSTONE INC (BX) 100.000 SHARES 13,092 13,092
BLACKSTONE INC (BX) 191.000 SHARES 25,006 25,006
BNP PARIBAS SP ADR REPSTG (BNPQY) 286.000 SHARES 9,887 9,887
BOISE CASCADE LLC (BCC) 21.338 SHARES 2,760 2,760
BORG WARNER INC (BWA) 101.000 SHARES 3,621 3,621
BORG WARNER INC (BWA) 161.000 SHARES 5,772 5,772
BRIGHT HORIZONS FAMILY SOLUT (BFAM) 27.000 SHARES 2,544 2,544
BRINK'S COMPANY COM (BCO) 31.932 SHARES 2,808 2,808
BRUNSWICK CORP (BC) 91.998 SHARES 8,901 8,901
BWX TECHNOLOGIES INC COM (BWXT) 145.000 SHARES 11,126 11,126
CACTUS INC CLASS-A (WHD) 114.000 SHARES 5,176 5,176
CADENCE BANK (CADE) 474.000 SHARES 14,026 14,026
CADENCE DESIGN SYSTEM (CDNS) 45.529 SHARES 12,401 12,401
CAL MAINE FOODS INC (CALM) 36.045 SHARES 2,069 2,069
CANADIAN NATL RAILWAY CO (CNI) 120.000 SHARES 15,076 15,076
CANADIAN PACIFIC KANSAS CITY (CP) 235.000 SHARES 18,579 18,579
CAPITAL ONE FINANCIAL CORP (COF) 209.000 SHARES 27,404 27,404
CAPITEC BANK HOLDINGS LTD ADR (CKHGY) 87.267 SHARES 4,835 4,835
CARLISLE CO INC (CSL) 42.567 SHARES 13,299 13,299
CARS COM INC (CARS) 118.000 SHARES 2,238 2,238
CASELLA WASTE SYS INC CL A (CWST) 157.000 SHARES 13,417 13,417
CENTURY COMMUNITIES INC (CCS) 20.942 SHARES 1,909 1,909
CERIDIAN HCM HLDG INC (CDAY) 119.000 SHARES 7,987 7,987
CHART INDS INC (GTLS) 47.779 SHARES 6,514 6,514
CHINA MERCHANTS BK CO LTD UNSP (CIHKY) 308.000 SHARES 5,364 5,364
CHIPOTLE MEXICAN GRILL INC COM (CMG) 5.321 SHARES 12,169 12,169
CHUGAI PHARMACEUTIC UNSP ADR (CHGCY) 2,445.000 SHARES 46,323 46,323
CLEAN HARBORS (CLH) 47.553 SHARES 8,298 8,298
CLEARWAY ENERGY INC CL C (CWEN) 102.000 SHARES 2,798 2,798
CNO FINL GROUP INC COM (CNO) 108.000 SHARES 3,013 3,013
COCA COLA CO (KO) 407.000 SHARES 23,985 23,985
COLUMBIA BANKING SYSTEMS INC (COLB) 448.000 SHARES 11,953 11,953
COMMERCE BANCSHARES (CBSH) 309.000 SHARES 16,504 16,504
COMMERCIAL METALS CO (CMC) 54.141 SHARES 2,709 2,709
COMPASS GROUP PLC SPD ADR (CMPGY) 563.000 SHARES 15,402 15,402
CONCENTRIX CORP (CNXC) 76.357 SHARES 7,499 7,499
CONMED CORP (CNMD) 47.386 SHARES 5,189 5,189
CONSOL ENRGY INC (CEIX) 75.556 SHARES 7,596 7,596
CONSTELLATION BRANDS INC CL A (STZ) 91.130 SHARES 22,031 22,031
CORCEPT THERAPEUTICS INC (CORT) 129.000 SHARES 4,190 4,190
CORE & MAIN INC CL A (CNM) 290.000 SHARES 11,719 11,719
CORTEVA INC (CTVA) 636.000 SHARES 30,477 30,477
COSAN S A ADR (CSAN) 575.000 SHARES 9,005 9,005
COUSINS PPTYS INC (CUZ) 99.440 SHARES 2,421 2,421
CREDICORP LTD (BAP) 27.784 SHARES 4,166 4,166
CREDICORP LTD (BAP) 88.291 SHARES 13,237 13,237
CROCS INC (CROX) 21.771 SHARES 2,034 2,034
CRODA INTL PLC ADR (COIHY) 189.000 SHARES 6,084 6,084
CROWN CASTLE INC (CCI) 159.000 SHARES 18,315 18,315
CULLEN FROST BANKERS INC (CFR) 184.000 SHARES 19,962 19,962
CURTISS WRIGHT CORP (CW) 85.286 SHARES 19,001 19,001
CUSTOMERS BANCORP INC COM (CUBI) 124.000 SHARES 7,145 7,145
DAIFUKU CO LTD ADR (DFKCY) 1186.000 SHARES 11,999 11,999
DANAHER CORPORATION (DHR) 108.000 SHARES 24,985 24,985
DANAHER CORPORATION (DHR) 74.277 SHARES 17,183 17,183
DANONE SPONSORED ADR (DANOY) 2,628.000 SHARES 34,069 34,069
DARLING INGREDIENTS INC (DAR) 29.286 SHARES 1,460 1,460
DASSAULT SYSTEMS SA ADS (DASTY) 856.000 SHARES 41,828 41,828
DBS GROUP HOLDINGS LTD SP (DBSDY) 502.000 SHARES 50,859 50,859
DENTSPLY SIRONA INC (XRAY) 194.000 SHARES 6,904 6,904
DEUTSCHE TELEKOM AG ADR (DTEGY) 1,484.000 SHARES 35,655 35,655
DIAGEO PLC SPON ADR NEW (DEO) 205.000 SHARES 29,860 29,860
DONNELLEY FINL SOLUTIONS INC (DFIN) 42.707 SHARES 2,664 2,664
DREAM FINDERS HOMES INC CL A (DFH) 63.343 SHARES 2,251 2,251
DYNATRACE INC (DT) 199.000 SHARES 10,883 10,883
DYNAVAX TECHNOLOGIES CORP (DVAX) 243.000 SHARES 3,397 3,397
EASTGROUP PROPERTIES INC (EGP) 50.177 SHARES 9,209 9,209
ECOLAB INC (ECL) 126.000 SHARES 24,992 24,992
ECOLAB INC (ECL) 47.862 SHARES 9,493 9,493
EDWARD LIFESCIENCES CORP (EW) 163.000 SHARES 12,429 12,429
ELEMENT SOLUTIONS INC (ESI) 464.000 SHARES 10,737 10,737
EMCOR GROUP INC (EME) 64.026 SHARES 13,793 13,793
ENCOMPASS HEALTH CORP (EHC) 107.000 SHARES 7,139 7,139
ENCOMPASS HEALTH CORP (EHC) 96.202 SHARES 6,419 6,419
ENEL SOCIETA PER AZIONI ADR (ENLAY) 5,460.000 SHARES 40,590 40,590
ENERGIZER HLDGS INC (ENR) 51.853 SHARES 1,643 1,643
ENERGY RECOVERY INC (ERII) 94.665 SHARES 1,783 1,783
ENN ENERGY HOLDINGS LTD UNSPON (XNGSY) 293.000 SHARES 8,630 8,630
ENTEGRIS INC (ENTG) 21.571 SHARES 2,585 2,585
EPAM SYSTEMS (EPAM) 12.630 SHARES 3,755 3,755
EPIROC AKTIEBOLAG ADR (EPOKY) 1,047.000 SHARES 21,007 21,007
EQUITY LIFESTYLE PROPERTIES (ELS) 299.000 SHARES 21,091 21,091
EVERCORE INC CLASS A (EVR) 36.503 SHARES 6,244 6,244
EVERTEC INC (EVTC) 53.526 SHARES 2,191 2,191
EXACT SCIENCES CORP (EXAS) 104.000 SHARES 7,694 7,694
FANUC CORPORATION UNSP ADR (FANUY) 1,968.000 SHARES 28,945 28,945
FEDERAL RLTY INVT TR SH BEN (FRT) 68.219 SHARES 7,030 7,030
FEDERAL SIGNAL CORP (FSS) 131.000 SHARES 10,053 10,053
FIRST HORIZON CORPORATION (FHN) 279.000 SHARES 3,951 3,951
FORTIVE CORP (FTV) 164.000 SHARES 12,075 12,075
FORTUNE BRANDS INNOVATIONS INC (FBIN) 21.206 SHARES 1,615 1,615
FORWARD AIR CORP (FWRD) 111.000 SHARES 6,979 6,979
FRANKLIN ELECTRIC CO (FELE) 93.943 SHARES 9,080 9,080
FULLER H B & COMPANY (FUL) 149.000 SHARES 12,130 12,130
G III APPAREL GROUP (GIII) 93.670 SHARES 3,183 3,183
GALLAGHER ARTHUR J & CO (AJG) 28.324 SHARES 6,370 6,370
GARTNER INC (IT) 26.345 SHARES 11,884 11,884
GATX CORP (GATX) 21.675 SHARES 2,606 2,606
GENL DYNAMICS CORP (GD) 94.986 SHARES 24,665 24,665
GENMAB A S ADR (GMAB) 517.000 SHARES 16,461 16,461
GENWORTH FINANCIAL INC CL A (GNW) 282.000 SHARES 1,884 1,884
GLOBANT S.A (GLOB) 35.807 SHARES 8,521 8,521
GRAPHIC PACKAGING HOLDING CO (GPK) 314.000 SHARES 7,740 7,740
GRUPO FINANCIERO BANORTE SAB (GBOOY) 182.000 SHARES 9,194 9,194
GSK PLC ADR (GSK) 822.000 SHARES 30,463 30,463
HAEMONETICS CORP (HAE) 63.970 SHARES 5,470 5,470
HAIER SMART HOME CO LTD ADR (HSHCY) 3,603.000 SHARES 40,696 40,696
HALEON PLC ADR (HLN) 3,450.000 SHARES 28,394 28,394
HANCOCK WHITNEY CORPORATION (HWC) 50.568 SHARES 2,457 2,457
HANOVER INSURANCE GROUP INC (THG) 64.814 SHARES 7,870 7,870
HARMONY BIOSCIENCES HLDGS INC (HRMY) 53.959 SHARES 1,743 1,743
HASBRO INC (HAS) 94.384 SHARES 4,819 4,819
HDFC BANK LTD ADR (HDB) 247.000 SHARES 16,576 16,576
HDFC BANK LTD ADR (HDB) 337.000 SHARES 22,616 22,616
HEALTHEQUITY INC COM (HQY) 80.060 SHARES 5,308 5,308
HELMERICH & PAYNE (HP) 145.000 SHARES 5,252 5,252
HENRY SCHEIN INC (HSIC) 84.580 SHARES 6,404 6,404
HONEYWELL INTL INC (HON) 121.000 SHARES 25,375 25,375
IBERDROLA SA SPON ADR (IBDRY) 305.000 SHARES 15,997 15,997
ICF INTL INC (ICFI) 120.000 SHARES 16,091 16,091
ICICI BANK LTD (IBN) 545.000 SHARES 12,993 12,993
ICICI BANK LTD (IBN) 649.000 SHARES 15,472 15,472
IDEXX LABS (IDXX) 23.157 SHARES 12,853 12,853
INDEPENDENT BK MASS (INDB) 168.000 SHARES 11,056 11,056
INFINEON TECHNOLOGIES AG (IFNNY) 1,409.000 SHARES 58,834 58,834
INFINEON TECHNOLOGIES AG (IFNNY) 200.000 SHARES 8,351 8,351
ING GROEP NV ADR (ING) 1,673.000 SHARES 25,128 25,128
INSTALLED BLDG PRODS INC (IBP) 47.000 SHARES 8,593 8,593
INTEGER HOLDINGS CORP (ITGR) 106.000 SHARES 10,502 10,502
INTERPUBLIC GROUP OF COS INC (IPG) 281.000 SHARES 9,172 9,172
INTRA-CELLULAR THERAPIES INC (ITCI) 59.000 SHARES 4,226 4,226
INTUIT INC (INTU) 38.438 SHARES 24,025 24,025
IPG PHOTONICS CORP (IPGP) 36.710 SHARES 3,985 3,985
JABIL CIRCUIT INC (JBL) 71.964 SHARES 9,168 9,168
JANUS HENDERSON GROUP (JHG) 306.000 SHARES 9,226 9,226
JD COM INC SPON ADR CL A (JD) 163.000 SHARES 4,709 4,709
JONES LANG LASALLE INC (JLL) 52.767 SHARES 9,966 9,966
KB HOME (KBH) 77.398 SHARES 4,834 4,834
KERING S A ADR NEW (PPRUY) 574.000 SHARES 25,300 25,300
KINGFISHER PLC SPONS ADR NEW (KGFHY) 997.000 SHARES 6,184 6,184
KOMATSU LTD SPON ADR NEW (KMTUY) 665.000 SHARES 17,396 17,396
KONINKLIJKE PHIL EL SP ADR NEW (PHG) 1,389.000 SHARES 32,405 32,405
L OREAL CO ADR (LRLCY) 457.000 SHARES 45,500 45,500
LA Z BOY INCORPORATED (LZB) 276.000 SHARES 10,190 10,190
LANCASTER COLONY CRP (LANC) 30.427 SHARES 5,063 5,063
LANDSTAR SYSTEM INC (LSTR) 50.731 SHARES 9,824 9,824
LANTHEUS HLDGS INC COM (LNTH) 104.000 SHARES 6,448 6,448
LEAR CORP (LEA) 36.522 SHARES 5,157 5,157
LEGAL & GENERAL PLC (LGGNY) 1,007.000 SHARES 16,117 16,117
LENNAR CORPORATION (LEN) 264.000 SHARES 39,347 39,347
LINCOLN NTL CORP IND (LNC) 154.000 SHARES 4,153 4,153
LINDE PLC (LIN) 48.421 SHARES 19,887 19,887
LITTELFUSE INC (LFUS) 36.656 SHARES 9,808 9,808
LIVANOVA PLC SHS (LIVN) 31.734 SHARES 1,642 1,642
LOWES COMPANIES INC (LOW) 95.953 SHARES 21,354 21,354
M K S INSTRUMENTS (MKSI) 26.284 SHARES 2,704 2,704
MAGNOLIA OIL & GAS CORP CL A (MGY) 471.000 SHARES 10,028 10,028
MANULIFE FINANCIAL CORP (MFC) 1,574.000 SHARES 34,785 34,785
MARRIOTT VACATIONS WORLDWIDE (VAC) 21.415 SHARES 1,818 1,818
MARTIN MARIETTA MATERIALS (MLM) 73.151 SHARES 36,496 36,496
MARVELL TECHNOLOGY GROUP LTD (MRVL) 205.000 SHARES 12,364 12,364
MEDTRONIC PLC SHS (MDT) 217.000 SHARES 17,876 17,876
MEITUAN ADR (MPNGY) 277.000 SHARES 5,811 5,811
MERCK & CO INC NEW COM (MRK) 259.000 SHARES 28,236 28,236
MERIT MED SYST (MMSI) 26.350 SHARES 2,002 2,002
MERITAGE HOME CORPORATION (MTH) 15.756 SHARES 2,745 2,745
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 1,225.000 SHARES 21,963 21,963
MICROCHIP TECHNOLOGY INC (MCHP) 401.000 SHARES 36,162 36,162
MICROSOFT CORP (MSFT) 127.000 SHARES 47,757 47,757
MICROSOFT CORP (MSFT) 80.267 SHARES 30,184 30,184
MINTH GROUP LTD (MNTHY) 76.000 SHARES 3,057 3,057
MITSUBISHI UFJ FINCL GRP ADS (MUFG) 1,668.000 SHARES 14,361 14,361
MONOLITHIC PWR SYSTEMS INC (MPWR) 22.766 SHARES 14,360 14,360
MSCI INC COM (MSCI) 23.168 SHARES 13,105 13,105
MURATA MANUFACTURING CO LTD (MRAAY) 3,130.000 SHARES 33,225 33,225
MYR GROUP INC DEL COM (MYRG) 32.214 SHARES 4,659 4,659
NATWEST GROUP PLC ADR (NWG) 1,714.000 SHARES 9,650 9,650
NCR ATLEOS CORPORATION (NATL) 169.000 SHARES 4,105 4,105
NCR VOYIX CORPORATION (VYX) 142.000 SHARES 2,401 2,401
NCR VOYIX CORPORATION (VYX) 338.000 SHARES 5,716 5,716
NESTLE SPON ADR REP REG SHR (NSRGY) 153.000 SHARES 17,726 17,726
NETSTREIT CORP (NTST) 376.000 SHARES 6,712 6,712
NEUROCRINE BIOSCIENCES INC (NBIX) 58.597 SHARES 7,721 7,721
NIKE INC B (NKE) 99.567 SHARES 10,810 10,810
NITORI HLDGS CO LTD ADR (NCLTY) 1,059.000 SHARES 14,182 14,182
NOVARTIS AG ADR (NVS) 214.500 SHARES 21,658 21,658
NOVOZYMES A/S UNSPONS APR (NVZMY) 191.000 SHARES 10,503 10,503
NVIDIA CORPORATION (NVDA) 56.226 SHARES 27,844 27,844
OLD NATL BANCORP IND (ONB) 131.000 SHARES 2,213 2,213
OLD NATL BANCORP IND (ONB) 410.000 SHARES 6,925 6,925
ONTO INNOVATION INC (ONTO) 54.359 SHARES 8,311 8,311
ORMAT TECHNOLOGIES INC (ORA) 21.064 SHARES 1,596 1,596
OSHKOSH CORP (OSK) 181.000 SHARES 19,622 19,622
OVINTIV INC (OVV) 49.878 SHARES 2,191 2,191
OXFORD INDUSTRIES INC (OXM) 21.482 SHARES 2,148 2,148
PARKER HANNIFIN CORP (PH) 86.021 SHARES 39,630 39,630
PATTERSON COMPANIES INC (PDCO) 63.582 SHARES 1,809 1,809
PATTERSON -UTI ENERGY INC (PTEN) 245.000 SHARES 2,646 2,646
PENTAIR PLC (PNR) 103.000 SHARES 7,489 7,489
PERFICIENT INC (PRFT) 116.000 SHARES 7,635 7,635
PING AN INSURANCE ADR (PNGAY) 711.000 SHARES 6,437 6,437
PING AN INSURANCE ADR (PNGAY) 802.000 SHARES 7,261 7,261
PLEXUS CORP (PLXS) 105.000 SHARES 11,354 11,354
PNC FINL SVCS GP (PNC) 151.000 SHARES 23,382 23,382
POWER INTEGRATIONS INC (POWI) 64.505 SHARES 5,297 5,297
PRIVIA HEALTH GROUP INC (PRVA) 72.389 SHARES 1,667 1,667
PROCTER & GAMBLE (PG) 148.000 SHARES 21,688 21,688
PROGRESS SOFTWARE (PRGS) 53.535 SHARES 2,907 2,907
PRUDENTIAL PLC ADR (PUK) 1,546.000 SHARES 34,708 34,708
PT BK NEGARA INDONESIA UN ADR (PTBRY) 294.000 SHARES 5,132 5,132
PT TELEKOMUNIKASI INDONESIA (TLK) 217.000 SHARES 5,590 5,590
PT TELEKOMUNIKASI INDONESIA (TLK) 624.000 SHARES 16,074 16,074
PTC INC COM (PTC) 21.401 SHARES 3,744 3,744
PULTE GROUP INC (PHM) 115.000 SHARES 11,870 11,870
PVH CORPORATION (PVH) 20.700 SHARES 2,528 2,528
QUALCOMM INC (QCOM) 200.000 SHARES 28,926 28,926
R P M INC (RPM) 238.000 SHARES 26,568 26,568
RECKITT BENCKISER PLC SPNS ADR (RBGLY) 2,886.000 SHARES 39,882 39,882
REGENCY CTRS CORP (REG) 66.465 SHARES 4,453 4,453
RELX PLC SPONSORED ADR (RELX) 627.500 SHARES 24,887 24,887
RENAISSANCE RE HOLDINGS LTD (RNR) 42.060 SHARES 8,244 8,244
REPLIGEN CP (RGEN) 47.273 SHARES 8,500 8,500
RIO TINTO PLC SPON ADR (RIO) 103.000 SHARES 7,669 7,669
RIO TINTO PLC SPON ADR (RIO) 364.000 SHARES 27,103 27,103
ROCHE HOLDINGS ADR (RHHBY) 1,122.000 SHARES 40,650 40,650
ROCHE HOLDINGS ADR (RHHBY) 661.000 SHARES 23,948 23,948
ROGERS CORP (ROG) 10.189 SHARES 1,346 1,346
ROLLS ROYCE HOLDINGS PLC (RYCEY) 17,640.000 SHARES 67,402 67,402
RWE AG SPONSORED ADR (RWEOY) 496.000 SHARES 22,563 22,563
RXSIGHT INC (RXST) 84.316 SHARES 3,400 3,400
RYANAIR HLDGS PLC ADR (RYAAY) 150.000 SHARES 20,004 20,004
RYDER SYSTEMS INC (R) 16.126 SHARES 1,855 1,855
SANDVIK AB SPONS ADR (SDVKY) 100.000 SHARES 2,164 2,164
SANOFI ADR (SNY) 457.000 SHARES 22,727 22,727
SAP AG (SAP) 207.000 SHARES 32,000 32,000
SAP AG (SAP) 255.000 SHARES 39,420 39,420
SCHNEIDER ELEC SA UNSP ADR (SBGSY) 766.000 SHARES 30,763 30,763
SCHNITZER STEEL INDS INC CL A (RDUS) 53.901 SHARES 1,626 1,626
SERVICENOW INC (NOW) 27.209 SHARES 19,223 19,223
SHIMANO INC ADR (SMNNY) 664.000 SHARES 10,284 10,284
SHIONOGI & CO LTD UNSPONS ADR (SGIOY) 1,219.000 SHARES 14,695 14,695
SHISEIDO LTD SPON ADR (SSDOY) 275.000 SHARES 8,294 8,294
SKYLINE CORP (SKY) 42.478 SHARES 3,154 3,154
SKYLINE CORP (SKY) 62.780 SHARES 4,662 4,662
SONOVA HLDG AG UNSP ADR (SONVY) 225.000 SHARES 14,671 14,671
SONY GROUP CORPORATION ADR (SONY) 322.000 SHARES 30,490 30,490
SONY GROUP CORPORATION ADR (SONY) 346.000 SHARES 32,763 32,763
SOUTHSTATE CORPORATION (SSB) 63.004 SHARES 5,321 5,321
SPECTRUM BRANDS HLDGS INC (SPB) 104.000 SHARES 8,296 8,296
SPROUTS FARMERS MARKET INC (SFM) 219.000 SHARES 10,536 10,536
STIFEL FINANCIAL CORPORATION (SF) 165.000 SHARES 11,410 11,410
STRIDE INC (LRN) 36.337 SHARES 2,157 2,157
SUMITOMO MITSUI FINL GROUP INC (SMFG) 949.000 SHARES 9,186 9,186
SYMRISE AG UNSPONS ADR (SYIEY) 638.000 SHARES 17,556 17,556
SYNOVUS FINANCIAL CORP (SNV) 321.000 SHARES 12,086 12,086
SYSCO CORP (SYY) 330.000 SHARES 24,133 24,133
SYSMEX CORP UNSPON ADR (SSMXY) 390.000 SHARES 10,869 10,869
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 401.000 SHARES 41,704 41,704
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 508.000 SHARES 52,832 52,832
TAKEDA PHARMACEUTCL CO LTD ADR (TAK) 1,408.000 SHARES 20,092 20,092
TD SYNNEX CORPORATION (SNX) 104.000 SHARES 11,191 11,191
TECHNIPFMC LTD (FTI) 99.865 SHARES 2,011 2,011
TELEDYNE TECH INC (TDY) 53.093 SHARES 23,695 23,695
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 305.000 SHARES 11,526 11,526
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 377.000 SHARES 14,247 14,247
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 621.000 SHARES 23,468 23,468
TEREX CP NEW DEL (TEX) 53.185 SHARES 3,056 3,056
THE SCOTTS MIRACLE-GRO COMPANY (SMG) 59.868 SHARES 3,817 3,817
THE SIMPLY GOOD FOODS COMPANY (SMPL) 304.000 SHARES 12,038 12,038
THERMO FISHER SCIENTIFIC (TMO) 25.796 SHARES 13,692 13,692
TRIMBLE INC (TRMB) 149.000 SHARES 7,927 7,927
TRINET GROUP INC (TNET) 16.000 SHARES 1,903 1,903
TWO HBRS INVT CORP (TWO) 138.000 SHARES 1,922 1,922
U S BANCORP COM NEW (USB) 600.000 SHARES 25,968 25,968
UBER TECHNOLOGIES INC (UBER) 218.000 SHARES 13,422 13,422
UBS GROUP AG SHS (UBS) 245.000 SHARES 7,571 7,571
ULTA BEAUTY INC (ULTA) 14.471 SHARES 7,091 7,091
UMB FINANCIAL CORP (UMBF) 25.765 SHARES 2,153 2,153
UNICHARM CORP UNSPON ADR (UNICY) 2,331.000 SHARES 16,858 16,858
UNICREDIT SPA-ADR (UNCRY) 2,622.000 SHARES 35,575 35,575
UNILEVER PLC (NEW) ADS (UL) 288.000 SHARES 13,962 13,962
UNITEDHEALTH GP INC (UNH) 36.251 SHARES 19,085 19,085
UNIVERSAL DISPLAY CORP (OLED) 46.673 SHARES 8,927 8,927
URBAN OUTFITTERS INC (URBN) 94.051 SHARES 3,357 3,357
US FOODS HOLDING CORP (USFD) 269.000 SHARES 12,215 12,215
US SILICA HLDGS INC (SLCA) 138.000 SHARES 1,561 1,561
UTD OVERSEAS BK LTD SPON ADR (UOVEY) 357.000 SHARES 15,400 15,400
VALEO SE ADR (VLEEY) 1,045.000 SHARES 8,032 8,032
VERALTO CORP (VLTO) 36.000 SHARES 2,961 2,961
VERALTO CORP (VLTO) 75.770 SHARES 6,233 6,233
VERISK ANALYTICS INC COM (VRSK) 50.207 SHARES 11,992 11,992
VINCI SA ADR (VCISY) 555.000 SHARES 17,427 17,427
VISA INC CL A (V) 83.963 SHARES 21,860 21,860
VISHAY INTERTECHNOLOGY INC (VSH) 138.000 SHARES 3,308 3,308
WALKER & DUNLOP INC (WD) 20.588 SHARES 2,285 2,285
WAL-MART DE MEXICO SA SPON ADR (WMMVY) 171.000 SHARES 7,209 7,209
WEG S.A. SPONSORED ADR (WEGZY) 1,231.000 SHARES 9,353 9,353
WEST PHARMACEUTICAL SVCS INC (WST) 31.224 SHARES 10,995 10,995
WEX INC COM (WEX) 15.580 SHARES 3,031 3,031
WILLIAMS SONOMA (WSM) 15.414 SHARES 3,110 3,110
WILLSCOT MOBILE MINI HOLDINGS (WSC) 198.000 SHARES 8,811 8,811
WORKIVA INC CLASS A (WK) 25.682 SHARES 2,607 2,607
WUXI BIOLOGICS CAYMAN INC ADR (WXXWY) 613.000 SHARES 4,647 4,647
WYNDHAM HOTELS & RESORTS INC (WH) 70.029 SHARES 5,631 5,631
XCEL ENERGY INC (XEL) 378.000 SHARES 23,402 23,402
XINYI SOLAR HLDGS LTD ADR (XISHY) 196.000 SHARES 2,289 2,289
XP INC (XP) 483.000 SHARES 12,592 12,592
XYLEM INC COM (XYL) 235.000 SHARES 26,875 26,875
YELP INC (YELP) 73.616 SHARES 3,485 3,485
YETI HOLDINGS INC (YETI) 41.618 SHARES 2,155 2,155
ZEBRA TECH CL-A (ZBRA) 28.766 SHARES 7,856 7,856

TY 2023 InvestmentsGovtObligationsSch
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
US Government Securities - End of Year Book Value:

595,336
US Government Securities - End of Year Fair Market Value:

595,336
State & Local Government Securities - End of Year Book Value:


353,307
State & Local Government Securities - End of Year Fair Market Value:


353,307


TY 2023 InvestmentsOtherSchedule2
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BLACKROCK STRATEGIC INC OPP I (BSIIX) 131,171.976 SHARES FMV 1,238,263 1,238,263
ISHARES INC ISHARES ESG AWAR (ESGE) 8,301.000 SHARES FMV 266,130 266,130
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 53,302.236 SHARES FMV 665,745 665,745
LM MARTIN CURRIE SMASH SER EM (LCSMX) 19,289.291 SHARES FMV 197,329 197,329
LORD ABBETT SHT DURATION INC I (LLDYX) 976,954.282 SHARES FMV 3,761,274 3,761,274
MSIF GROWTH I (MSEQX) 18,279.817 SHARES FMV 702,311 702,311
SPDR S&P 500 ETF TRUST (SPY) 2,270.000 SHARES FMV 1,078,954 1,078,954
TIAA CREF CORE IMPACT BD INST (TSBIX) 179,204.596 SHARES FMV 1,614,633 1,614,633
U.S. REAL ESTATE INVESTMENT FUND, LLC 1,013.126 UNITS FMV 1,266,458 1,266,458
VAN ECK EMERGING MARKETS Y (EMRYX) 19,910.083 SHARES FMV 272,370 272,370

TY 2023 OtherAssetsSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DIVIDEND AND INTEREST INCOME RECEIVABLE 12,117 10,987 10,987


TY 2023 OtherDecreasesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Amount
CHANGE IN DISCOUNT ON GRANTS PAYABLE 168,601


TY 2023 OtherIncomeSchedule2
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
THRU SCHEDULE K-1'S - NET RENTAL REAL ESTATE INCOME   642  
OTHER MISCELLANEOUS INCOME 448   448


TY 2023 OtherIncreasesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Amount
UNREALIZED APPRECIATION ON INVESTMENTS 602,552


TY 2023 OtherProfessionalFeesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT CUSTODIAL FEES 5,035 5,035   0


TY 2023 TaxesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 22,020 0   0