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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
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$15,848,073J 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 1,551 1,551  
4 Dividends and interest from securities... 569,779 577,360  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 37,982
b Gross sales price for all assets on line 6a 9,671,849
7 Capital gain net income (from Part IV, line 2)... 38,030
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
400 464  
12 Total. Add lines 1 through 11........ 609,712 617,405  
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
4,776 4,776   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
4,975 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......   589    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 9,751 5,365   0
25 Contributions, gifts, grants paid....... 120,000 3,889,000
26 Total expenses and disbursements. Add lines 24 and 25 129,751 5,365   3,889,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 479,961
b Net investment income (if negative, enter -0-) 612,040
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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......... 745,184 1,484,535 1,484,535
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.......... 29,594 24,619 24,619
10a Investments—U.S. and state government obligations (attach schedule) 948,643 Click to see attachment
List of Attached Documents:
// Content
1,152,097 		1,152,097
b Investments—corporate stock (attach schedule)....... 5,132,421 Click to see attachment
List of Attached Documents:
// Content
3,161,936 		3,161,936
c Investments—corporate bonds (attach schedule)....... 622,752 Click to see attachment
List of Attached Documents:
// Content
683,064 		683,064
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).......... 11,063,467 Click to see attachment
List of Attached Documents:
// Content
9,328,064 		9,328,064
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
10,987 		Click to see attachment
List of Attached Documents:
// Content
13,758 		Click to see attachment
List of Attached Documents:
// Content
13,758
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 18,553,048 15,848,073 15,848,073
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 6,499,881 2,966,800
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) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
3,351
23 Total liabilities (add lines 17 through 22)......... 6,499,881 2,970,151
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........... 12,053,167 12,877,922
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)..... 12,053,167 12,877,922
30 Total liabilities and net assets/fund balances (see instructions). 18,553,048 15,848,073
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
12,053,167
2
Enter amount from Part I, line 27a .....................
2
479,961
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
584,064
4
Add lines 1, 2, and 3 ..........................
4
13,117,192
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
239,270
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
12,877,922
Form 990-PF (2024)
Form 990-PF (2024)
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 27,188.356 SHARES P 2021-11-01 2024-09-20
c JLL INCOME PROPERTY TRUST, INC. CLASS M-I 1,159.489 SHARES P 2021-12-28 2024-09-20
d JLL INCOME PROPERTY TRUST, INC. CLASS M-I 1,134.941 SHARES P 2022-03-25 2024-09-20
e JLL INCOME PROPERTY TRUST, INC. CLASS M-I 1,121.175 SHARES P 2022-06-24 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 1,127.952 SHARES P 2022-09-23 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 684.562 SHARES P 2022-12-23 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 750.687 SHARES P 2023-03-27 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 784.783 SHARES P 2023-06-26 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 625.540 SHARES P 2023-09-25 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 608.809 SHARES P 2023-12-26 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 421.306 SHARES P 2024-03-26 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 478.924 SHARES P 2024-06-26 2024-09-20
JLL INCOME PROPERTY TRUST, INC. CLASS M-I 18,115.942 SHARES P 2021-11-01 2024-02-07
THRU SCHEDULE K-1'S P    
(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 9,023,554   8,927,894 95,660
b 318,918   349,915 -30,997
c 13,601   15,734 -2,133
d 13,313   16,479 -3,166
e 13,151   16,638 -3,487
13,231   16,795 -3,564
8,030   9,892 -1,862
8,806   10,344 -1,538
9,206   10,453 -1,247
7,338   8,220 -882
7,141   7,641 -500
4,942   5,102 -160
5,618   5,608 10
225,000   233,152 -8,152
      48
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       95,660
b       -30,997
c       -2,133
d       -3,166
e       -3,487
      -3,564
      -1,862
      -1,538
      -1,247
      -882
      -500
      -160
      10
      -8,152
      48
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 38,030
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 8,507
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 8,507
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 8,507
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 32,820
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 32,820
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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 24,313
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow24,313 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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 2024 or the taxable year beginning in 2024? 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 2024, 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 (2024)
Form 990-PF (2024)
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
0.50 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
AKWABOAH PETER TRUSTEE (THRU MARCH 2024)
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
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
DOTSON WILLIAM J TRUSTEE
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
POSER MICHAEL TRUSTEE (BEGAN JUNE 2024)
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, FINANCE CHAIR
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
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
0.25 		0 0 0
1585 BROADWAY
NEW YORK,NY100361001
ZARETSKY ANDREA TRUSTEE (BEGAN MARCH 2024)
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 (2024)
Form 990-PF (2024)
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 (2024)
Form 990-PF (2024)
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
16,136,984
b
Average of monthly cash balances.......................
1b
1,878,012
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
18,014,996
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
18,014,996
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
270,225
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
17,744,771
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
887,239
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
887,239
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
8,507
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
8,507
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
878,732
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
878,732
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
878,732
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
3,889,000
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
3,889,000
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 878,732
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021...... 4,376,290
d From 2022...... 2,936,495
e From 2023...... 3,152,987
f Total of lines 3a through e ........ 10,465,772
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,889,000
a Applied to 2023, 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 2024 distributable amount..... 878,732
e Remaining amount distributed out of corpus 3,010,268
5 Excess distributions carryover applied to 2024. 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 13,476,040
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		13,476,040
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021.... 4,376,290
c Excess from 2022.... 2,936,495
d Excess from 2023.... 3,152,987
e Excess from 2024.... 3,010,268
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
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 (2024)
Form 990-PF (2024)
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,NY10001 		N/A PC MORGAN STANLEY CAREER PREPARATION PROGRAM (MSCPP) 300,000

AMERICA NEEDS YOU

82 NASSAU STREET PMB 60358
NEW YORK,NY10038 		N/A PC FIRSTGENU 260,000

AMERICAN INDIAN COLLEGE FUND

8333 GREENWOOD BOULEVARD SUITE 120
DENVER,CO80221 		N/A PC MORGAN STANLEY FOUNDATION TRIBAL SCHOLARS PROGRAM 20,000

BRAVEN INCORPORATED

100 N LA SALLE STREET SUITE 310
CHICAGO,IL60602 		N/A PC MORGAN STANLEY INSTITUTE FOR INCLUSION - BRAVEN GROWTH PROJECT 500,000

COLLEGE POSSIBLE NATIONAL

755 PRIOR AVENUE N SUITE 210
SAINT PAUL,MN55104 		N/A PC EXPANDING COMMUNITY COLLEGE SUCCESS 908,500

HISPANIC FEDERATION INC

55 EXCHANGE PLACE 5TH FLOOR
NEW YORK,NY10005 		N/A PC HISPANIC FEDERATION CAREER PATHWAYS INITIATIVE 500,000

IMENTOR INCORPORATED

199 WATER STREET 8TH FLOOR
NEW YORK,NY10038 		N/A PC INSTITUTE FOR INCLUSION EDUCATION AND CAREER ATTAINMENT INITIATIVE 360,000

NEW YORK WOMENS FOUNDATION

39 BROADWAY 33RD FLOOR
NEW YORK,NY10006 		N/A PC GENERAL OPERATING SUPPORT 25,000

PREP FOR PREP

328 W 71ST STREET
NEW YORK,NY10023 		N/A PC UNDERGRADUATE AFFAIRS: SUPPORTING STUDENTS OF COLOR PURSUING HIGHER EDUCATION 75,000

RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK

230 W 41ST STREET
NEW YORK,NY10036 		N/A PC CUNY ASAP CAREER DEVELOPMENT ENHANCEMENTS AND NATIONAL REPLICATION CAPACITY BUILDING 448,500

SPONSORS FOR EDUCATIONAL OPPORTUNITY

55 EXCHANGE PLACE SUITE 601
NEW YORK,NY10005 		N/A PC CLOSING THE EMPLOYMENT GAP FOR LOW-INCOME COLLEGE GRADUATES 492,000
Total .................................right arrow 3a 3,889,000
bApproved for future payment

A BETTER CHANCE INC
253 W 35TH STREET 15TH FLOOR
NEW YORK,NY10001 		N/A PC MORGAN STANLEY CAREER PREPARATION PROGRAM (MSCPP) 300,000

AMERICA NEEDS YOU
82 NASSAU STREET PMB 60358
NEW YORK,NY10038 		N/A PC FIRSTGENU 265,000

COLLEGE POSSIBLE NATIONAL
755 PRIOR AVENUE N SUITE 210
SAINT PAUL,MN55104 		N/A PC EXPANDING COMMUNITY COLLEGE SUCCESS 1,195,200

HISPANIC FEDERATION INC
55 EXCHANGE PLACE 5TH FLOOR
NEW YORK,NY10005 		N/A PC HISPANIC FEDERATION CAREER PATHWAYS INITIATIVE 500,000

RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK
230 W 41ST STREET
NEW YORK,NY10036 		N/A PC CUNY ASAP CAREER DEVELOPMENT ENHANCEMENTS AND NATIONAL REPLICATION CAPACITY BUILDING 201,600

SPONSORS FOR EDUCATIONAL OPPORTUNITY
55 EXCHANGE PLACE SUITE 601
NEW YORK,NY10005 		N/A PC CLOSING THE EMPLOYMENT GAP FOR LOW-INCOME COLLEGE GRADUATES 505,000
Total ................................. right arrow 3b 2,966,800
Form 990-PF (2024)
Form 990-PF (2024)
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 1,551  
4 Dividends and interest from securities ....     14 569,779  
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 37,982  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER MISCELLANEOUS INCOME 		    01 400  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 609,712 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
609,712
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 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 2024 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 23,228 23,228
ALEXANDRIA REAL ESTATE EQUITIES INC 4.900% 12/15/2030 (015271AU3) 15,000 QTY 14,782 14,782
AMERICAN ELECTRIC POWER CO INC 1.000% 11/1/2025 (025537AR2) 25,000 QTY 24,231 24,231
AMERICAN TOWER CORP 3.125% 1/15/2027 (03027XAM2) 10,000 QTY 9,680 9,680
AMGEN INC 2.200% 2/21/2027 (031162CT5) 25,000 QTY 23,707 23,707
AON CORP 2.800% 5/15/2030 (037389BE2) 11,000 QTY 9,802 9,802
BANK OF AMERICA CORP 1.898% 7/23/2031 (06051GJF7) 35,000 QTY 29,437 29,437
BHP BILLITON FINANCE USA LTD 4.750% 2/28/2028 (055451AZ1) 15,000 QTY 14,987 14,987
BLACKROCK FUNDING INC 5.000% 3/14/2034 (09290DAB7) 15,000 QTY 14,834 14,834
BRISTOL-MYERS SQUIBB CO 4.900% 2/22/2029 (110122EF1) 15,000 QTY 15,074 15,074
CITIGROUP INC 3.200% 10/21/2026 (172967KY6) 30,000 QTY 29,188 29,188
CNH INDUSTRIAL CAPITAL LLC 5.500% 1/12/2029 (12592BAR5) 5,000 QTY 5,074 5,074
COMCAST CORP 5.300% 6/1/2034 (20030NEJ6) 19,000 QTY 18,998 18,998
CVS HEALTH CORP 3.250% 8/15/2029 (126650DG2) 30,000 QTY 27,320 27,320
DTE ENERGY CO 4.950% 7/1/2027 (233331BM8) 19,000 QTY 19,066 19,066
ELEVANCE HEALTH INC 3.650% 12/1/2027 (036752AB9) 20,000 QTY 19,458 19,458
ENERGY TRANSFER LP 4.950% 6/15/2028 (29278NAF0) 10,000 QTY 9,988 9,988
EXELON CORP 3.400% 4/15/2026 (30161NAU5) 10,000 QTY 9,835 9,835
FIFTH THIRD BANCORP FXD 6.361% 10/27/2028 (316773DJ6) 14,000 QTY 14,478 14,478
JOHN DEERE CAPITAL CORP 5.100% 4/11/2034 (24422EXP9) 20,000 QTY 19,994 19,994
JPMORGAN CHASE & CO FXD 2.580% 4/22/2032 (46647PCC8) 40,000 QTY 34,320 34,320
KINDER MORGAN INC 4.300% 6/1/2025 (49456BAF8) 15,000 QTY 14,967 14,967
MORGAN STANLEY FXD 6.342% 10/18/2033 (61747YEY7) 15,000 QTY 15,872 15,872
MPLX LP 1.750% 3/1/2026 (55336VBR0) 8,000 QTY 7,727 7,727
NATIONAL RURAL UTILITIES FINANCE CORP 5.000% 2/7/2031 (63743HFP2) 10,000 QTY 10,053 10,053
NEXTERA ENERGY CAPITAL HOLDINGS INC 3.550% 5/1/2027 (65339KAT7) 20,000 QTY 19,490 19,490
ORACLE CORP 2.650% 7/15/2026 (68389XBM6) 15,000 QTY 14,556 14,556
PFIZER INVESTMENT ENTERPRISES PTE 4.750% 5/19/2033 (716973AE2) 20,000 QTY 19,437 19,437
PROLOGIS LP CPN 1.250% DUE 10/15/2030 (74340XBR1) 20,000 QTY 16,396 16,396
REALTY INCOME CORP CPN 4.850% DUE 3/15/2030 (756109BR4) 14,000 QTY 13,920 13,920
RTX CORP 4.125% 11/16/2028 (913017CY3) 15,000 QTY 14,611 14,611
RYDER SYSTEM INC 6.300% 12/1/2028 (78355HKX6) 5,000 QTY 5,242 5,242
SEMPRA 3.400% 2/1/2028 (816851BG3) 20,000 QTY 19,119 19,119
TORONTO-DOMINION BANK/THE 0.750% 1/6/2026 (89114QCP1) 25,000 QTY 24,049 24,049
TOTALENERGIES CAPITAL SA 4.724% 9/10/2034 (89157XAD3) 19,000 QTY 18,285 18,285
TRUIST FINANCIAL CORP 1.267% 3/2/2027 (89788MAD4) 25,000 QTY 23,974 23,974
UNITEDHEALTH GROUP INC 3.850% 6/15/2028 (91324PDK5) 30,000 QTY 24,309 24,309
US BANCORP 4.548% 7/22/2028 (91159HJF8) 19,000 QTY 18,842 18,842
WASTE MANAGEMENT INC 4.875% 2/15/2034 (94106LBW8) 15,000 QTY 14,734 14,734

TY 2024 InvestmentsCorpStockSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Name of Stock End of Year Book Value End of Year Fair Market Value
ACI WORLDWIDE INC (ACIW) 59.283 SHARES 3,077 3,077
ACUITY BRANDS INC (AYI) 15.816 SHARES 4,620 4,620
ACV AUCTIONS CL A (ACVA) 80.337 SHARES 1,735 1,735
ADOBE INC (ADBE) 49.342 SHARES 21,941 21,941
ADTALEM GLOBAL EDUCATION INC (ATGE) 10.420 SHARES 947 947
ADVANCED DRAIN SYS INC (WMS) 11.281 SHARES 1,304 1,304
ADVANCED ENERGY IND INC (AEIS) 35.642 SHARES 4,121 4,121
ADYEN N V UNSPONSRED ADR (ADYEY) 612.000 SHARES 9,107 9,107
AFFILIATED MGRS GROUP INC (AMG) 19.895 SHARES 3,679 3,679
AGILENT TECHNOLOGIES (A) 44.278 SHARES 5,948 5,948
AGILYSYS INC (AGYS) 15.096 SHARES 1,988 1,988
AIA GROUP LTD SPON ADR (AAGIY) 284.000 SHARES 8,233 8,233
AIA GROUP LTD SPON ADR (AAGIY) 74.005 SHARES 2,145 2,145
AIR LIQUIDE ADR (AIQUY) 212.000 SHARES 6,890 6,890
AIR LIQUIDE ADR (AIQUY) 97.675 SHARES 3,174 3,174
AIRBNB INC CL A (ABNB) 70.112 SHARES 9,213 9,213
AKZO NOBEL NV ADR (AKZOY) 785.000 SHARES 15,705 15,705
ALASKA AIR GROUP INCORPORATED (ALK) 20.571 SHARES 1,332 1,332
ALCON INC (ALC) 119.000 SHARES 10,102 10,102
ALCON INC (ALC) 207.000 SHARES 17,572 17,572
ALFA LAVAL AB-UNSPONS ADR (ALFVY) 239.000 SHARES 10,006 10,006
ALIBABA GROUP HLDG LTD (BABA) 49.913 SHARES 4,232 4,232
ALLEGION PUB LTD CO (ALLE) 28.387 SHARES 3,710 3,710
ALLEGRO MICROSYSTEMS INC (ALGM) 147.000 SHARES 3,213 3,213
ALLIANZ SE ADR (ALIZY) 158.000 SHARES 4,841 4,841
ALLIANZ SE ADR (ALIZY) 786.000 SHARES 24,083 24,083
ALNYLAM PHARMACEUTICALS INC (ALNY) 12.826 SHARES 3,018 3,018
ALPHABET INC CL A (GOOGL) 69.872 SHARES 13,227 13,227
ALPHABET INC CL A (GOOGL) 84.772 SHARES 16,047 16,047
ALPHABET INC CL C (GOOG) 58.851 SHARES 11,208 11,208
ALSTOM ADR (ALSMY) 12,639.000 SHARES 28,223 28,223
AMADEUS IT GROUP S.A ADR (AMADY) 35.336 SHARES 2,495 2,495
AMAZON COM INC (AMZN) 144.000 SHARES 31,592 31,592
AMAZON COM INC (AMZN) 145.000 SHARES 31,812 31,812
AMBEV S A SPONSORED ADR (ABEV) 3,544.000 SHARES 6,556 6,556
AMER INTL GP INC NEW (AIG) 153.000 SHARES 11,138 11,138
AMERICAN HOMES 4 RENT CL A (AMH) 105.000 SHARES 3,929 3,929
AMERICAN WATER WORKS CO (AWK) 127.000 SHARES 15,810 15,810
AMERIPRISE FINCL INC (AMP) 56.163 SHARES 29,903 29,903
AMGEN INC (AMGN) 69.884 SHARES 18,215 18,215
ANHEUSER BUSCH INBEV SA SPON (BUD) 229.000 SHARES 11,466 11,466
ANSYS INC (ANSS) 60.588 SHARES 20,438 20,438
APPLE INC (AAPL) 94.560 SHARES 23,680 23,680
APTARGROUP INC (ATR) 8.612 SHARES 1,353 1,353
ARCHROCK INC (AROC) 49.463 SHARES 1,231 1,231
ARCOSA INC (ACA) 57.991 SHARES 5,610 5,610
ARES MANAGEMENT CORP CL A (ARES) 56.949 SHARES 10,082 10,082
ARMADA HOFFLER PROPERTIES INC (AHH) 251.000 SHARES 2,568 2,568
ASSA ABLOY AB UNSP ADR (ASAZY) 509.000 SHARES 7,527 7,527
ASTERA LABS INC (ALAB) 16.000 SHARES 2,119 2,119
ASTRAZENECA PLC ADR (AZN) 280.000 SHARES 18,346 18,346
ATLAS COPCO AS A ADR A NEW (ATLKY) 695.000 SHARES 10,621 10,621
ATMOS ENERGY CP (ATO) 151.000 SHARES 21,030 21,030
ATMOS ENERGY CP (ATO) 26.000 SHARES 3,621 3,621
AUTOMATIC DATA PROCESSING INC (ADP) 16.486 SHARES 4,826 4,826
AVANTOR INC (AVTR) 169.000 SHARES 3,561 3,561
AVERY DENNISON CORPORATION (AVY) 14.781 SHARES 2,766 2,766
AVIENT CORPORATION (AVNT) 18.433 SHARES 753 753
AVNET INC (AVT) 15.697 SHARES 821 821
AXA ADS (AXAHY) 213.000 SHARES 7,570 7,570
BADGER METER INC (BMI) 11.948 SHARES 2,534 2,534
BANCO BILBAO VIZ ARG SA ADS (BBVA) 1,341.000 SHARES 13,035 13,035
BANCO BRADESCO S A NEW (BBD) 1,123.000 SHARES 2,145 2,145
BANK RAKYAT INDONESIA ADR (BKRKY) 146.000 SHARES 1,851 1,851
BARCLAYS PLC ADR (BCS) 1,893.000 SHARES 25,158 25,158
BARRICK GOLD CORP (GOLD) 219.000 SHARES 3,395 3,395
BELDEN INC (BDC) 15.297 SHARES 1,723 1,723
BERKELEY GROUP HLDGS PLC ADR (BKGFY) 462.000 SHARES 4,513 4,513
BERKSHIRE HILLS BANCORP INC (BHLB) 32.012 SHARES 910 910
BILL HOLDINGS INC (BILL) 40.749 SHARES 3,452 3,452
BLACKSTONE INC (BX) 99.430 SHARES 17,144 17,144
BNP PARIBAS SP ADR REPSTG (BNPQY) 242.000 SHARES 7,420 7,420
BOISE CASCADE LLC (BCC) 8.688 SHARES 1,033 1,033
BOOKING HOLDINGS INC (BKNG) 1.034 SHARES 5,137 5,137
BORG WARNER INC (BWA) 97.959 SHARES 3,114 3,114
BOSTON SCIENTIFIC CORP (BSX) 35.856 SHARES 3,203 3,203
BREAD FINANCIAL HOLDINGS INC (BFH) 46.017 SHARES 2,810 2,810
BRIGHT HORIZONS FAMILY SOLUT (BFAM) 13.022 SHARES 1,443 1,443
BROADCOM INC (AVGO) 53.365 SHARES 12,372 12,372
BRUNSWICK CORP (BC) 37.474 SHARES 2,424 2,424
BWX TECHNOLOGIES INC COM (BWXT) 64.895 SHARES 7,229 7,229
BYD COMPANY LTD UNSPON ADR (BYDDY) 18.211 SHARES 1,250 1,250
CABOT CORP (CBT) 8.731 SHARES 797 797
CACTUS INC CLASS-A (WHD) 57.062 SHARES 3,330 3,330
CADENCE BANK (CADE) 192.000 SHARES 6,614 6,614
CADENCE DESIGN SYSTEM (CDNS) 36.614 SHARES 11,001 11,001
CALERES INC (CAL) 21.804 SHARES 505 505
CANADIAN NATL RAILWAY CO (CNI) 62.876 SHARES 6,383 6,383
CANADIAN PACIFIC KANSAS CITY (CP) 241.000 SHARES 17,441 17,441
CAPITAL ONE FINANCIAL CORP (COF) 142.000 SHARES 25,321 25,321
CAPITEC BANK HOLDINGS LTD ADR (CKHGY) 28.037 SHARES 2,329 2,329
CARGURUS INC CL A (CARG) 51.504 SHARES 1,882 1,882
CARLISLE CO INC (CSL) 15.112 SHARES 5,574 5,574
CARRIER GLOBAL CORPORATION (CARR) 53.391 SHARES 3,644 3,644
CASELLA WASTE SYS INC CL A (CWST) 64.457 SHARES 6,820 6,820
CENTERSPACE (CSR) 58.488 SHARES 3,869 3,869
CHART INDS INC (GTLS) 18.604 SHARES 3,550 3,550
CHECK POINT SOFTWARE TECH LTD (CHKP) 33.015 SHARES 6,164 6,164
CHEFS' WAREHOUSE INC COM (CHEF) 22.570 SHARES 1,113 1,113
CHINA MERCHANTS BK CO LTD UNSP (CIHKY) 111.000 SHARES 2,858 2,858
CHIPOTLE MEXICAN GRILL INC COM (CMG) 130.000 SHARES 7,839 7,839
CHIPOTLE MEXICAN GRILL INC COM (CMG) 99.883 SHARES 6,023 6,023
CHUGAI PHARMACEUTIC UNSP ADR (CHGCY) 821.000 SHARES 18,281 18,281
CIMPRESS PLC EURO (CMPR) 10.854 SHARES 778 778
CLEAN HARBORS (CLH) 23.031 SHARES 5,300 5,300
CLEARWATER ANALYTICS HOLDINGS (CWAN) 53.750 SHARES 1,479 1,479
CLEARWAY ENERGY INC CL C (CWEN) 42.649 SHARES 1,109 1,109
CNO FINL GROUP INC COM (CNO) 43.912 SHARES 1,634 1,634
COCA COLA CO (KO) 270.000 SHARES 16,810 16,810
COLOPLAST AS SPONSERED ADR (CLPBY) 577.000 SHARES 6,299 6,299
COLUMBIA BANKING SYSTEMS INC (COLB) 218.000 SHARES 5,888 5,888
COLUMBIA BANKING SYSTEMS INC (COLB) 44.984 SHARES 1,215 1,215
COMERICA INC (CMA) 19.531 SHARES 1,208 1,208
COMMERCE BANCSHARES (CBSH) 190.000 SHARES 11,839 11,839
COMMERCIAL METALS CO (CMC) 21.208 SHARES 1,052 1,052
COMPAGNIE DE ST GOBAIN UNSP (CODYY) 690.000 SHARES 12,246 12,246
COMPASS GROUP PLC SPD ADR (CMPGY) 115.000 SHARES 3,834 3,834
CONFLUENT INC CLASS A (CFLT) 143.000 SHARES 3,998 3,998
CONMED CORP (CNMD) 19.087 SHARES 1,306 1,306
CONMED CORP (CNMD) 44.753 SHARES 3,063 3,063
CONSTELLATION BRANDS INC CL A (STZ) 58.250 SHARES 12,873 12,873
COPT DEFENSE PROPERTIES SH BEN (CDP) 36.552 SHARES 1,131 1,131
CORE & MAIN INC CL A (CNM) 118.000 SHARES 6,007 6,007
CORE & MAIN INC CL A (CNM) 13.401 SHARES 682 682
CORTEVA INC (CTVA) 401.000 SHARES 22,841 22,841
COSAN S A ADR (CSAN) 117.000 SHARES 636 636
COUSINS PPTYS INC (CUZ) 40.616 SHARES 1,244 1,244
CRANE NXT CO (CXT) 54.808 SHARES 3,191 3,191
CREDICORP LTD (BAP) 39.466 SHARES 7,235 7,235
CRINETICS PHARMACEUTICALS INC (CRNX) 16.967 SHARES 868 868
CROCS INC (CROX) 18.077 SHARES 1,980 1,980
CSG SYSTEMS INTL INC (CSGS) 28.241 SHARES 1,443 1,443
CULLEN FROST BANKERS INC (CFR) 110.000 SHARES 14,768 14,768
CURTISS WRIGHT CORP (CW) 25.915 SHARES 9,196 9,196
CUSTOMERS BANCORP INC COM (CUBI) 26.738 SHARES 1,302 1,302
DAIFUKU CO LTD ADR (DFKCY) 535.000 SHARES 5,617 5,617
DANAHER CORPORATION (DHR) 49.098 SHARES 11,270 11,270
DANAHER CORPORATION (DHR) 77.776 SHARES 17,853 17,853
DANONE SPONSORED ADR (DANOY) 476.000 SHARES 6,419 6,419
DARLING INGREDIENTS INC (DAR) 17.317 SHARES 583 583
DASSAULT SYSTEMS SA ADS (DASTY) 475.000 SHARES 16,477 16,477
DATADOG INC CL A (DDOG) 37.250 SHARES 5,323 5,323
DBS GROUP HOLDINGS LTD SP (DBSDY) 223.000 SHARES 28,587 28,587
DEUTSCHE TELEKOM AG ADR (DTEGY) 364.000 SHARES 10,889 10,889
DIAGEO PLC SPON ADR NEW (DEO) 104.000 SHARES 13,222 13,222
DISCO CORP ADR (DSCSY) 271.000 SHARES 7,368 7,368
DR ING H C F PORSCHE AG ADR (DRPRY) 394.000 SHARES 2,383 2,383
DYNATRACE INC (DT) 167.000 SHARES 9,076 9,076
EAST WEST BANCORP (EWBC) 21.054 SHARES 2,016 2,016
EASTGROUP PROPERTIES INC (EGP) 20.290 SHARES 3,256 3,256
EATON CORP PLC SHS (ETN) 15.419 SHARES 5,117 5,117
ECOLAB INC (ECL) 17.419 SHARES 4,082 4,082
ECOLAB INC (ECL) 26.409 SHARES 6,188 6,188
ECOLAB INC (ECL) 83.499 SHARES 19,565 19,565
ELANCO ANIMAL HEALTH INC (ELAN) 219.000 SHARES 2,652 2,652
ELEMENT SOLUTIONS INC (ESI) 189.000 SHARES 4,806 4,806
ELI LILLY & CO (LLY) 9.093 SHARES 7,020 7,020
EMPIRE ST RLTY TR INC CL A (ESRT) 170.000 SHARES 1,754 1,754
ENCOMPASS HEALTH CORP (EHC) 49.324 SHARES 4,555 4,555
ENCOMPASS HEALTH CORP (EHC) 51.192 SHARES 4,728 4,728
ENEL SOCIETA PER AZIONI ADR (ENLAY) 1,958.000 SHARES 13,961 13,961
ENERGY RECOVERY INC (ERII) 24.067 SHARES 354 354
ENN ENERGY HOLDINGS LTD UNSPON (XNGSY) 330.000 SHARES 9,490 9,490
EPAM SYSTEMS (EPAM) 4.603 SHARES 1,076 1,076
EPIROC AKTIEBOLAG ADR (EPOKY) 470.000 SHARES 8,191 8,191
EQUITY LIFESTYLE PROPERTIES (ELS) 199.000 SHARES 13,253 13,253
ESCO TECHNOLOGIES (ESE) 7.185 SHARES 957 957
EURONET WORLDWIDE INC (EEFT) 13.093 SHARES 1,346 1,346
EVERCORE INC CLASS A (EVR) 11.083 SHARES 3,072 3,072
EXLSERVICE HLDGS INC (EXLS) 139.000 SHARES 6,169 6,169
F5 INC (FFIV) 8.682 SHARES 2,183 2,183
FAIR ISAAC & CO INC (FICO) 1.935 SHARES 3,852 3,852
FANUC CORPORATION UNSP ADR (FANUY) 981.000 SHARES 13,031 13,031
FEDERAL SIGNAL CORP (FSS) 44.943 SHARES 4,152 4,152
FISERV INC (FI) 20.742 SHARES 4,261 4,261
FLOWSERVE CORP (FLS) 78.165 SHARES 4,496 4,496
FORTIVE CORP (FTV) 61.247 SHARES 4,594 4,594
FORTUNE BRANDS INNOVATIONS INC (FBIN) 12.177 SHARES 832 832
FRESHPET INC (FRPT) 11.209 SHARES 1,660 1,660
FRONTDOOR INC (FTDR) 76.910 SHARES 4,205 4,205
FUJITSU LTD ADR NEW (FJTSY) 599.000 SHARES 10,670 10,670
FULLER H B & COMPANY (FUL) 60.493 SHARES 4,082 4,082
GALLAGHER ARTHUR J & CO (AJG) 30.694 SHARES 8,712 8,712
GALLAGHER ARTHUR J & CO (AJG) 43.375 SHARES 12,312 12,312
GATX CORP (GATX) 6.261 SHARES 970 970
GE AEROSPACE NEW (GE) 31.475 SHARES 5,250 5,250
GE AEROSPACE NEW (GE) 38.685 SHARES 6,452 6,452
GENL DYNAMICS CORP (GD) 62.664 SHARES 16,511 16,511
GENMAB A S ADR (GMAB) 269.000 SHARES 5,614 5,614
GLAUKOS CORPORATION (GKOS) 24.025 SHARES 3,602 3,602
GLOBANT S.A (GLOB) 11.642 SHARES 2,496 2,496
GLOBE LIFE INC (GL) 32.226 SHARES 3,594 3,594
GOOSEHEAD INSURANCE INC CLAS A (GSHD) 13.924 SHARES 1,493 1,493
GRAPHIC PACKAGING HOLDING CO (GPK) 128.000 SHARES 3,476 3,476
GRUPO FINANCIERO BANORTE SAB (GBOOY) 157.000 SHARES 5,073 5,073
GRUPO FINANCIERO BANORTE SAB (GBOOY) 37.827 SHARES 1,222 1,222
GSK PLC ADR (GSK) 397.000 SHARES 13,427 13,427
GUIDEWIRE SOFTWARE INC (GWRE) 27.720 SHARES 4,673 4,673
HAIER SMART HOME CO LTD ADR (HSHCY) 652.000 SHARES 9,233 9,233
HALEON PLC ADR (HLN) 1,859.000 SHARES 17,735 17,735
HANCOCK WHITNEY CORPORATION (HWC) 31.952 SHARES 1,748 1,748
HANOVER INSURANCE GROUP INC (THG) 30.332 SHARES 4,691 4,691
HDFC BANK LTD ADR (HDB) 309.000 SHARES 19,733 19,733
HDFC BANK LTD ADR (HDB) 88.207 SHARES 5,633 5,633
HEIDELBERG MATERIALS AG ADR (HDLMY) 139.000 SHARES 3,434 3,434
HEINEKEN NV SPN ADR (HEINY) 203.000 SHARES 7,221 7,221
HILTON WORLDWIDE HLDGS INC (HLT) 14.108 SHARES 3,487 3,487
HONEYWELL INTL INC (HON) 75.877 SHARES 17,140 17,140
HOWMET AEROSPACE INC (HWM) 29.528 SHARES 3,229 3,229
ICF INTL INC (ICFI) 29.198 SHARES 3,481 3,481
ICICI BANK LTD (IBN) 154.000 SHARES 4,598 4,598
INFINEON TECHNOLOGIES AG (IFNNY) 382.000 SHARES 12,421 12,421
INFINEON TECHNOLOGIES AG (IFNNY) 564.000 SHARES 18,338 18,338
ING GROEP NV ADR (ING) 474.000 SHARES 7,428 7,428
INSTALLED BLDG PRODS INC (IBP) 14.695 SHARES 2,575 2,575
INTEGER HOLDINGS CORP (ITGR) 42.668 SHARES 5,654 5,654
INTUIT INC (INTU) 26.940 SHARES 16,932 16,932
INTUIT INC (INTU) 5.384 SHARES 3,384 3,384
INTUITIVE SURGICAL INC (ISRG) 11.705 SHARES 6,110 6,110
INTUITIVE SURGICAL INC (ISRG) 12.329 SHARES 6,435 6,435
ITRON INC (ITRI) 11.215 SHARES 1,218 1,218
JANUS HENDERSON GROUP (JHG) 101.000 SHARES 4,296 4,296
JAZZ PHARMACEUTICALS PLC (JAZZ) 11.418 SHARES 1,406 1,406
JD COM INC SPON ADR CL A (JD) 43.534 SHARES 1,509 1,509
JONES LANG LASALLE INC (JLL) 15.321 SHARES 3,878 3,878
JULIUS BAER GROUP LTD UN ADR (JBAXY) 435.000 SHARES 5,632 5,632
KB HOME (KBH) 22.444 SHARES 1,475 1,475
KBR INC (KBR) 80.927 SHARES 4,688 4,688
KERING S A ADR NEW (PPRUY) 1,011.000 SHARES 24,942 24,942
KINGFISHER PLC SPONS ADR NEW (KGFHY) 1,043.000 SHARES 6,497 6,497
KIRBY CP (KEX) 14.996 SHARES 1,587 1,587
KKR & CO INC CL A (KKR) 125.000 SHARES 18,489 18,489
KKR & CO INC CL A (KKR) 31.940 SHARES 4,724 4,724
KLA CORPORATION (KLAC) 11.828 SHARES 7,453 7,453
KOMATSU LTD SPON ADR NEW (KMTUY) 299.000 SHARES 8,276 8,276
KONINKLIJKE PHIL EL SP ADR NEW (PHG) 505.000 SHARES 12,787 12,787
KONTOOR BRANDS INC (KTB) 12.513 SHARES 1,069 1,069
L OREAL CO ADR (LRLCY) 206.000 SHARES 14,584 14,584
LA Z BOY INCORPORATED (LZB) 119.000 SHARES 5,185 5,185
LAM RESEARCH CORPORATION NEW (LRCX) 56.000 SHARES 4,045 4,045
LANTHEUS HLDGS INC COM (LNTH) 50.165 SHARES 4,488 4,488
LAZARD INC (LAZ) 17.000 SHARES 875 875
LEGAL & GENERAL PLC (LGGNY) 420.000 SHARES 6,044 6,044
LENNAR CORPORATION (LEN) 173.000 SHARES 23,592 23,592
LI NING COMPANY LTD ADR (LNNGY) 34.971 SHARES 1,853 1,853
LIBERTY MEDIA COR SER C LBRT L (LLYVK) 17.851 SHARES 1,215 1,215
LINDE PLC (LIN) 21.804 SHARES 9,129 9,129
LITTELFUSE INC (LFUS) 14.923 SHARES 3,517 3,517
LIVANOVA PLC SHS (LIVN) 64.139 SHARES 2,970 2,970
LOWES COMPANIES INC (LOW) 71.134 SHARES 17,556 17,556
M K S INSTRUMENTS (MKSI) 31.914 SHARES 3,332 3,332
MAGNOLIA OIL & GAS CORP CL A (MGY) 193.000 SHARES 4,512 4,512
MAKEMYTRIP LIMITED (MMYT) 10.810 SHARES 1,214 1,214
MANULIFE FINANCIAL CORP (MFC) 601.000 SHARES 18,457 18,457
MARTIN MARIETTA MATERIALS (MLM) 43.957 SHARES 22,704 22,704
MARVELL TECHNOLOGY INC (MRVL) 160.000 SHARES 17,672 17,672
MASIMO CORPORATION (MASI) 16.035 SHARES 2,651 2,651
MASTEC INC (MTZ) 25.865 SHARES 3,521 3,521
MASTERCARD INC CL A (MA) 16.234 SHARES 8,548 8,548
MEDTRONIC PLC SHS (MDT) 149.000 SHARES 11,902 11,902
MEITUAN ADR (MPNGY) 82.198 SHARES 3,210 3,210
MERCADOLIBRE INC (MELI) 5.582 SHARES 9,492 9,492
MERCK & CO INC NEW COM (MRK) 164.000 SHARES 16,315 16,315
MERIT MED SYST (MMSI) 36.153 SHARES 3,497 3,497
MERITAGE HOME CORPORATION (MTH) 12.018 SHARES 1,849 1,849
META PLATFORMS INC CL A (META) 29.321 SHARES 17,168 17,168
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 858.000 SHARES 14,126 14,126
MICROCHIP TECHNOLOGY INC (MCHP) 270.000 SHARES 15,485 15,485
MICROSOFT CORP (MSFT) 64.401 SHARES 27,145 27,145
MICROSOFT CORP (MSFT) 65.033 SHARES 27,411 27,411
MICROSOFT CORP (MSFT) 95.626 SHARES 40,306 40,306
MINTH GROUP LTD (MNTHY) 31.403 SHARES 1,165 1,165
MITSUBISHI UFJ FINCL GRP ADS (MUFG) 1,154.000 SHARES 13,525 13,525
MONOLITHIC PWR SYSTEMS INC (MPWR) 14.825 SHARES 8,772 8,772
MSCI INC COM (MSCI) 12.772 SHARES 7,663 7,663
MUELLER WATER PROD INC SER A (MWA) 76.984 SHARES 1,732 1,732
MURATA MANUFACTURING CO LTD (MRAAY) 706.000 SHARES 5,749 5,749
NATWEST GROUP PLC ADR (NWG) 316.000 SHARES 3,214 3,214
NCR ATLEOS CORPORATION (NATL) 30.000 SHARES 1,018 1,018
NESTLE SPON ADR REP REG SHR (NSRGY) 152.000 SHARES 12,559 12,559
NETFLIX INC (NFLX) 5.092 SHARES 4,539 4,539
NETSTREIT CORP (NTST) 185.000 SHARES 2,618 2,618
NEXTRACKER INC CLASS A (NXT) 20.918 SHARES 764 764
NINTENDO CO LTD ADR NEW (NTDOY) 624.000 SHARES 9,129 9,129
NISOURCE INC (NI) 38.399 SHARES 1,412 1,412
NORDSTROM INC (JWN) 185.000 SHARES 4,468 4,468
NOVONESIS (NOVOZYMES) B ADR (NVZMY) 101.000 SHARES 5,718 5,718
NUTANIX INC CL A (NTNX) 31.186 SHARES 1,908 1,908
NVENT ELECTRIC PLC (NVT) 33.041 SHARES 2,252 2,252
NVIDIA CORPORATION (NVDA) 230.000 SHARES 30,887 30,887
NVIDIA CORPORATION (NVDA) 241.000 SHARES 32,364 32,364
OLD NATL BANCORP IND (ONB) 241.000 SHARES 5,231 5,231
ONE GAS INC (OGS) 22.359 SHARES 1,548 1,548
ONTO INNOVATION INC (ONTO) 17.202 SHARES 2,867 2,867
ORACLE CORP (ORCL) 38.091 SHARES 6,347 6,347
O'REILLY AUTOMOTIVE INC NEW (ORLY) 4.802.000 SHARES 5,694 5,694
OSHKOSH CORP (OSK) 115.000 SHARES 10,933 10,933
PARKER HANNIFIN CORP (PH) 58.427 SHARES 37,161 37,161
PELOTON INTERACTIVE INC CL A (PTON) 90.760 SHARES 790 790
PENTAIR PLC (PNR) 41.488 SHARES 4,175 4,175
PHINIA INC (PHIN) 24.025 SHARES 1,157 1,157
PING AN INSURANCE ADR (PNGAY) 200.000 SHARES 2,371 2,371
PING AN INSURANCE ADR (PNGAY) 360.000 SHARES 4,268 4,268
PKO BANK POLSKI UNSPON ADR (PSZKY) 78.460 SHARES 1,135 1,135
PLEXUS CORP (PLXS) 42.909 SHARES 6,714 6,714
PNC FINL SVCS GP (PNC) 90.874 SHARES 17,525 17,525
PRIMO BRANDS CORPORATION CL A (PRMB) 42.591 SHARES 1,311 1,311
PROCTER & GAMBLE (PG) 104.000 SHARES 17,436 17,436
PROG HOLDINGS INC (PRG) 26.606 SHARES 1,124 1,124
PROGRESS SOFTWARE (PRGS) 13.868 SHARES 904 904
PROGRESSIVE CORP OHIO (PGR) 58.198 SHARES 13,945 13,945
PRUDENTIAL PLC ADR (PUK) 809.000 SHARES 12,895 12,895
PT BK NEGARA INDONESIA UN ADR (PTBRY) 79.927 SHARES 1,080 1,080
PT TELEKOMUNIKASI INDONESIA (TLK) 392.000 SHARES 6,448 6,448
QUALCOMM INC (QCOM) 133.000 SHARES 20,431 20,431
R P M INC (RPM) 162.000 SHARES 19,936 19,936
RADIUS RECYCLING INC CLASS A (RDUS) 29.031 SHARES 442 442
RECKITT BENCKISER PLC SPNS ADR (RBGLY) 1,706.000 SHARES 20,653 20,653
REINSURANCE GROUP OF AMERICA (RGA) 10.610 SHARES 2,267 2,267
RELX PLC SPONSORED ADR (RELX) 150.000 SHARES 6,813 6,813
RENAISSANCE RE HOLDINGS LTD (RNR) 17.131 SHARES 4,262 4,262
RENESAS ELECTRONICS CORP ADR (RNECY) 2,640.000 SHARES 17,189 17,189
REVOLUTION MEDICINES INC (RVMD) 31.792 SHARES 1,391 1,391
RINGCENTRAL INC CL A (RNG) 26.020 SHARES 911 911
RIO TINTO PLC SPON ADR (RIO) 162.000 SHARES 9,527 9,527
RIVIAN AUTOMOTIVE INC CL A (RIVN) 84.228 SHARES 1,120 1,120
ROCHE HOLDINGS ADR (RHHBY) 438.000 SHARES 15,277 15,277
ROCHE HOLDINGS ADR (RHHBY) 440.000 SHARES 15,347 15,347
ROLLS ROYCE HOLDINGS PLC (RYCEY) 3,274.000 SHARES 23,314 23,314
ROYAL GOLD INC (RGLD) 24.397 SHARES 3,217 3,217
RWE AG SPONSORED ADR (RWEOY) 125.000 SHARES 3,732 3,732
RXSIGHT INC (RXST) 42.434 SHARES 1,459 1,459
RYDER SYSTEMS INC (R) 8.103 SHARES 1,271 1,271
SANOFI ADR (SNY) 237.000 SHARES 11,431 11,431
SAP AG (SAP) 55.140 SHARES 13,576 13,576
SAP AG (SAP) 78.556 SHARES 19,341 19,341
SCHNEIDER ELEC SA UNSP ADR (SBGSY) 345.000 SHARES 17,212 17,212
SENSIENT TECH CORP (SXT) 14.128 SHARES 1,007 1,007
SENTINELONE INC CL A (S) 101.000 SHARES 2,242 2,242
SERVICE CORP INTL (SCI) 40.264 SHARES 3,214 3,214
SERVICENOW INC (NOW) 16.572 SHARES 17,568 17,568
SERVICENOW INC (NOW) 6.349 SHARES 6,731 6,731
SHIMANO INC ADR (SMNNY) 294.000 SHARES 4,001 4,001
SHINHAN FINANCIAL GROUP CO LTD (SHG) 106.000 SHARES 3,485 3,485
SHIONOGI & CO LTD UNSPONS ADR (SGIOY) 975.000 SHARES 6,884 6,884
SHOPIFY INC (SHOP) 28.060 SHARES 2,984 2,984
SMC CORP JAPAN SPONSORED ADR (SMCAY) 385.000 SHARES 7,616 7,616
SMITH & NEPHEW PLC ADR (SNN) 195.000 SHARES 4,793 4,793
SMURFIT WESTROCK LTD (SW) 72.919 SHARES 3,927 3,927
SNOWFLAKE INC CL A (SNOW) 18.318 SHARES 2,828 2,828
SOCIETE GENERALE SP ADR (SCGLY) 536.000 SHARES 3,015 3,015
SODEXO (SDXAY) 229.000 SHARES 3,773 3,773
SONOVA HLDG AG UNSP ADR (SONVY) 118.000 SHARES 7,716 7,716
SONY GROUP CORPORATION ADR (SONY) 762.000 SHARES 16,124 16,124
SONY GROUP CORPORATION ADR (SONY) 835.000 SHARES 17,669 17,669
SPECTRUM BRANDS HLDGS INC (SPB) 13.247 SHARES 1,119 1,119
SPOTIFY TECHNOLOGY SA (SPOT) 18.087 SHARES 8,092 8,092
SPROUTS FARMERS MARKET INC (SFM) 37.086 SHARES 4,713 4,713
STANDARD CHARTERED PLC ADR (SCBFY) 314.000 SHARES 7,775 7,775
STIFEL FINANCIAL CORPORATION (SF) 67.558 SHARES 7,167 7,167
STRIDE INC (LRN) 14.706 SHARES 1,528 1,528
STRYKER CORP (SYK) 10.747 SHARES 3,869 3,869
SUPERNUS PHARMACEUTICALS INC (SUPN) 41.695 SHARES 1,508 1,508
SYMRISE AG UNSPONS ADR (SYIEY) 289.000 SHARES 7,680 7,680
SYNOPSYS INC (SNPS) 8.034 SHARES 3,899 3,899
SYNOVUS FINANCIAL CORP (SNV) 130.000 SHARES 6,660 6,660
SYSMEX CORP UNSPON ADR (SSMXY) 729.000 SHARES 13,529 13,529
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 127.000 SHARES 25,081 25,081
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 89.320 SHARES 17,640 17,640
TAKEDA PHARMACEUTCL CO LTD ADR (TAK) 218.000 SHARES 2,886 2,886
TANGER INC (SKT) 49.406 SHARES 1,686 1,686
TD SYNNEX CORPORATION (SNX) 32.142 SHARES 3,770 3,770
TECHTRONIC IND LTD SPONS ADR (TTNDY) 93.776 SHARES 6,187 6,187
TELEDYNE TECH INC (TDY) 36.400 SHARES 16,894 16,894
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 168.000 SHARES 8,934 8,934
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 189.000 SHARES 10,051 10,051
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 243.000 SHARES 12,923 12,923
TESLA INC (TSLA) 24.944 SHARES 10,073 10,073
TEXAS INSTRUMENTS (TXN) 21.600 SHARES 4,050 4,050
THE SIMPLY GOOD FOODS COMPANY (SMPL) 109.000 SHARES 4,249 4,249
THERMO FISHER SCIENTIFIC (TMO) 13.749 SHARES 7,153 7,153
TIDEWATER INC NEW (TDW) 37.501 SHARES 2,052 2,052
TOAST INC CL A (TOST) 140.000 SHARES 5,103 5,103
TRADE DESK INC CLASS A (TTD) 22.336 SHARES 2,625 2,625
TRANE TECHNOLOGIES PLC (TT) 13.280 SHARES 4,905 4,905
TRAVEL PLUS LEISURE CO (TNL) 65.145 SHARES 3,287 3,287
TRIMBLE INC (TRMB) 69.943 SHARES 4,942 4,942
TRINITY IND (TRN) 81.292 SHARES 2,853 2,853
TRIP COM GROUP LTD ADR (TCOM) 25.653 SHARES 1,761 1,761
TRIUMPH FINANCIAL INC (TFIN) 11.959 SHARES 1,087 1,087
U S BANCORP COM NEW (USB) 422.000 SHARES 20,184 20,184
UBER TECHNOLOGIES INC (UBER) 158.000 SHARES 9,531 9,531
ULTRAGENYX PHARMACEUTICAL INC (RARE) 32.672 SHARES 1,375 1,375
UMB FINANCIAL CORP (UMBF) 18.979 SHARES 2,142 2,142
UNICHARM CORP UNSPON ADR (UNICY) 1,204.000 SHARES 4,852 4,852
UNICREDIT SPA-ADR (UNCRY) 565.000 SHARES 11,269 11,269
UNITI GROUP INC (UNIT) 158.000 SHARES 869 869
US FOODS HOLDING CORP (USFD) 108.000 SHARES 7,286 7,286
US FOODS HOLDING CORP (USFD) 79.949 SHARES 5,393 5,393
UTD OVERSEAS BK LTD SPON ADR (UOVEY) 132.000 SHARES 7,031 7,031
VALVOLINE INC COM (VVV) 24.854 SHARES 899 899
VAXCYTE INC (PCVX) 12.449 SHARES 1,019 1,019
VERALTO CORP (VLTO) 83.590 SHARES 8,514 8,514
VERISK ANALYTICS INC COM (VRSK) 28.009 SHARES 7,715 7,715
VERIZON COMMUNICATIONS (VZ) 412.000 SHARES 16,476 16,476
VISA INC CL A (V) 52.814 SHARES 16,691 16,691
VORNADO REALTY TRUST (VNO) 64.486 SHARES 2,711 2,711
VULCAN MATERIALS CO (VMC) 12.945 SHARES 3,330 3,330
WAL-MART DE MEXICO SA SPON ADR (WMMVY) 41.829 SHARES 1,104 1,104
WARBY PARKER INC CL A (WRBY) 104.000 SHARES 2,518 2,518
WEG S.A. SPONSORED ADR (WEGZY) 278.000 SHARES 2,375 2,375
WEST PHARMACEUTICAL SVCS INC (WST) 30.784 SHARES 10,084 10,084
WESTERN ALLIANCE BANCORP (WAL) 10.458 SHARES 874 874
WILLSCOT HLDGS CORP CL A (WSC) 80.278 SHARES 2,685 2,685
WORKDAY INC CL A (WDAY) 15.846 SHARES 4,089 4,089
WORKDAY INC CL A (WDAY) 32.367 SHARES 8,352 8,352
WORLD KINECT CORPORATION (WKC) 66.882 SHARES 1,840 1,840
XCEL ENERGY INC (XEL) 241.000 SHARES 16,272 16,272
XYLEM INC COM (XYL) 149.000 SHARES 17,287 17,287
ZEBRA TECH CL-A (ZBRA) 13.927 SHARES 5,379 5,379
ZILLOW GROUP INC CL A (ZG) 44.098 SHARES 3,124 3,124
ZTO EXPRESS CAYMAN INC CL A (ZTO) 320.000 SHARES 6,256 6,256
ZURN ELKAY WATER SOLNS CORP (ZWS) 42.730 SHARES 1,594 1,594

TY 2024 InvestmentsGovtObligationsSch
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
US Government Securities - End of Year Book Value:

681,710
US Government Securities - End of Year Fair Market Value:

681,710
State & Local Government Securities - End of Year Book Value:


470,387
State & Local Government Securities - End of Year Fair Market Value:


470,387


TY 2024 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) 133,922.762 SHARES FMV 1,268,249 1,268,249
ISHARES INC ISHARES ESG AWAR (ESGE) 2,656.000 SHARES FMV 88,684 88,684
LM MARTIN CURRIE SMASH SER EM (LCSMX) 5,562.117 SHARES FMV 48,557 48,557
LORD ABBETT SHT DURATION INC I (LLDYX) 1,058,563.403 SHARES FMV 4,086,055 4,086,055
NUVEEN CORE IMPACT BD R6 (TSBIX) 190,240.824 SHARES FMV 1,683,631 1,683,631
SPDR S&P 500 ETF TRUST (SPY) 1,750.000 SHARES FMV 1,025,640 1,025,640
U.S. REAL ESTATE INVESTMENT FUND, LLC 970.657 UNITS FMV 1,127,248 1,127,248

TY 2024 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 10,987 13,758 13,758


TY 2024 OtherDecreasesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Amount
DISCOUNT ON GRANTS PAYABLE 235,919
DEFERRED FEDERAL EXCISE TAX EXPENSE 3,351


TY 2024 OtherIncomeSchedule2
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
NET RENTAL REAL ESTATE INCOME THRU SCHEDULE K-1'S   464  
OTHER MISCELLANEOUS INCOME 400   400


TY 2024 OtherIncreasesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Amount
UNREALIZED APPRECIATION ON INVESTMENTS 584,064


TY 2024 OtherLiabilitiesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED FEDERAL EXCISE TAX 0 3,351


TY 2024 OtherProfessionalFeesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT CUSTODIAL FEES 4,776 4,776   0


TY 2024 TaxesSchedule
Name:
MORGAN STANLEY FOUNDATION
EIN:
13-6155650
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 4,975 0   0