Morgan Stanley Institutional Liquidity Funds Portfolio Holdings FUND NAME: MONEY MARKET PORTFOLIO UNAUDITED HOLDINGS AS OF JULY 31, 2018 WAM 25 DAYS WAL 68 DAYS NET ASSETS: 1,292,663,233 INVESTMENT CATEGORY ISSUER CUSIP PRINCIPAL AMOUNT RATE(¹) MATURITY DATE (²) DATE(³) MARKET VALUE Collateralized Commercial Paper Co. Collateralized Commercial Paper Co. MetLife Short Term Funding COUPON EFFECTIVE FINAL MATURITY % of MARKET 19423EFD5 $ 10,000,000 2.322% 08/28/18 12/28/18 $ 10,002,050 0.77% 19422GJT2 5,000,000 2.320 09/27/18 09/27/18 4,982,769 0.39% 19423CGH9 5,000,000 2.468 08/20/18 10/18/18 5,002,463 0.39% 19423CGJ5 10,000,000 2.438 08/20/18 10/18/18 10,004,271 0.77% 19422DK42 4,700,000 2.390 10/04/18 10/04/18 4,681,568 0.36% 59157UJT8 12,000,000 2.280 09/27/18 09/27/18 11,959,207 0.92% VALUE MetLife Short Term Funding MetLife Short Term Funding Bank of America NA Bank of Montreal BNP Paribas SA Canadian Imperial Bank of Commerce Credit Agricole Credit Suisse AG Credit Suisse AG DZ Bank AG Deutsche Zentral- Genossenschaftbank DZ Bank AG Deutsche Zentral- Genossenschaftbank 59157UJS0 15,000,000 2.280 09/26/18 09/26/18 14,949,935 1.16% 59157UK17 3,000,000 2.280 10/01/18 10/01/18 2,989,042 0.23% 06053PH83 5,000,000 2.482 08/16/18 10/16/18 5,002,302 0.39% 05574BJV3 10,000,000 2.370 09/27/18 09/27/18 10,002,690 0.77% 05582W2X1 7,000,000 2.502 08/16/18 10/16/18 7,005,581 0.54% 13606BUP9 5,000,000 2.501 08/21/18 09/21/18 5,003,104 0.39% 22532XJJ8 10,000,000 2.480 09/20/18 12/20/18 10,000,064 0.77% 22549LHV0 10,000,000 2.430 09/21/18 09/21/18 10,000,805 0.77% 22549LHC2 1,000,000 2.333 08/17/18 08/17/18 1,000,165 0.08% 23305GAP3 5,000,000 2.232 08/30/18 01/30/19 4,999,539 0.39% 23328AC77 10,000,000 2.260 09/26/18 09/26/18 10,001,912 0.77% 23328AC85 4,000,000 2.260 09/26/18 09/26/18 4,000,766 0.31% 40428A6Q5 5,000,000 2.502 08/16/18 10/16/18 5,003,986 0.39% 40428A7E1 5,000,000 2.385 09/26/18 12/26/18 5,000,075 0.39% 40428A6Y8 7,000,000 2.338 08/16/18 11/16/18 7,002,629 0.54% 40428A7L5 15,000,000 2.317 08/27/18 04/26/19 14,999,541 1.16% Page 1 of 5
National Australia Bank Ltd. Natixis NY State Street Bank & Trust Co. State Street Bank & Trust Co. Wells Fargo Bank NA Westpac Banking Corp. ANZ New Zealand International Ltd. ANZ New Zealand International Ltd. Australia & New Zealand Bank Canadian Imperial Bank of Commerce DNB Bank ASA DNB Bank ASA ING U.S. Funding ING U.S. Funding JP Morgan Securities National Australia Bank Ltd. 40428A7J0 7,000,000 2.304 08/27/18 04/25/19 6,999,723 0.54% 63253TL63 3,600,000 2.526 09/14/18 03/14/19 3,599,386 0.28% 63873NVZ1 5,000,000 2.321 08/24/18 12/24/18 5,000,043 0.39% 69033L5C9 5,000,000 2.342 08/16/18 11/16/18 5,002,026 0.39% 69033L6H7 10,000,000 2.310 09/27/18 09/27/18 10,002,621 0.77% 69033L6K0 5,000,000 2.310 09/28/18 09/28/18 5,001,276 0.39% 78012UBV6 5,500,000 2.500 09/21/18 09/21/18 5,501,005 0.43% 78009N2M7 7,270,000 2.467 10/04/18 10/04/18 7,274,768 0.56% 78012UDP7 10,000,000 2.452 09/24/18 03/22/19 10,003,441 0.77% 83050FQ95 5,000,000 2.396 08/20/18 11/20/18 5,002,695 0.39% 83050FR60 10,000,000 2.396 08/20/18 11/20/18 10,005,420 0.77% 83050FT76 15,000,000 2.352 08/20/18 11/19/18 15,006,270 1.16% 83050FU74 12,000,000 2.343 08/17/18 12/17/18 12,005,162 0.93% 8574P1LR5 10,000,000 2.302 08/20/18 11/19/18 10,001,570 0.77% 8574P1LG9 10,000,000 2.292 08/20/18 10/19/18 10,003,302 0.77% 86958JC80 5,000,000 2.422 08/16/18 11/16/18 5,003,400 0.39% 86958JZC6 5,000,000 2.312 08/20/18 11/19/18 5,001,596 0.39% 86958JJ59 5,000,000 2.272 08/28/18 12/28/18 5,000,816 0.39% 86958JJ67 15,000,000 2.272 08/28/18 12/28/18 15,002,453 1.16% 87019VLH8 5,000,000 2.412 09/25/18 03/25/19 5,000,133 0.39% 87019VNX1 28,000,000 2.237 08/28/18 01/28/19 27,997,845 2.17% 87019VNC7 10,000,000 2.230 10/10/18 10/10/18 10,003,756 0.77% 89113XZZ0 3,810,000 2.545 09/20/18 03/20/19 3,816,486 0.30% 94989RC97 5,000,000 2.437 10/04/18 10/04/18 5,001,969 0.39% 96121T7E2 12,383,000 2.526 09/12/18 03/12/19 12,405,726 0.96% 00182HGH9 10,000,000 2.420 09/25/18 03/25/19 10,000,229 0.77% 00182HGF3 7,000,000 2.337 09/21/18 12/21/18 7,000,102 0.54% 05253MKG8 15,000,000 2.520 09/21/18 12/21/18 15,009,476 1.16% 13608CFH0 5,000,000 2.342 08/16/18 11/16/18 5,002,026 0.39% 23305EK10 40,000,000 2.330 10/01/18 10/01/18 39,851,751 3.08% 23305EJR5 12,000,000 2.280 09/25/18 09/25/18 11,960,203 0.92% 23305EJS3 4,000,000 2.280 09/26/18 09/26/18 3,986,478 0.31% 2332K1HQ6 3,610,000 2.580 08/24/18 08/24/18 3,605,386 0.28% 2332K4HE7 4,000,000 2.381 08/22/18 10/22/18 4,002,123 0.31% 44988KER6 15,000,000 2.422 09/21/18 12/21/18 15,000,702 1.16% 44988KFQ7 10,000,000 2.394 08/27/18 02/25/19 10,000,440 0.77% 46640QKG5 5,000,000 2.420 10/16/18 10/16/18 4,976,248 0.38% 63254GHB4 5,000,000 2.322 08/16/18 11/16/18 5,001,817 0.39% 69034CFZ6 5,000,000 2.420 09/25/18 03/25/19 5,000,131 0.39% 86564XJT2 5,000,000 2.390 09/27/18 09/27/18 4,983,478 0.39% 86564XJU9 23,000,000 2.370 09/28/18 09/28/18 22,922,613 1.77% 86563HJT8 5,090,000 2.310 09/27/18 09/27/18 5,073,181 0.39% 86564XK45 10,000,000 2.300 10/04/18 10/04/18 9,962,264 0.77% Page 2 of 5
Non- Non- Non- Non- Non- Non- United Overseas Bank Ltd. Erste Abwicklungsanstalt Toyota Motor Credit Toyota Motor Credit Toyota Motor Finance Australia Toyota Motor Finance Netherlands Toyota Motor Finance Netherlands Credit Agricole CIB (Grand Cayman) DNB Bank ASA (New York Branch) Lloyds Bank PLC (New York Branch) Natixis (Grand Cayman) ABN AMRO Securities 89120DEM7 15,000,000 2.462 09/24/18 03/22/19 15,006,113 1.16% 89120DHT9 10,000,000 2.413 09/21/18 12/21/18 10,000,145 0.77% 89120DEG0 15,000,000 2.392 08/20/18 11/19/18 15,007,789 1.16% 89120DHZ5 5,000,000 2.384 09/25/18 03/25/19 5,000,434 0.39% 90276JDL7 10,000,000 2.465 09/18/18 09/18/18 10,000,487 0.77% 90276JDF0 5,000,000 2.455 09/20/18 09/20/18 5,002,690 0.39% 90276JDU7 10,000,000 2.453 09/21/18 12/21/18 10,000,106 0.77% 90276JDT0 10,000,000 2.443 09/24/18 12/24/18 10,000,091 0.77% 90276JEK8 15,000,000 2.384 08/28/18 03/25/19 15,006,797 1.16% 91127QHQ5 5,140,000 2.580 08/24/18 08/24/18 5,133,195 0.40% 29604BBU7 5,000,000 2.413 08/17/18 10/17/18 5,003,047 0.39% 89233AA66 5,000,000 2.453 08/17/18 10/15/18 5,003,442 0.39% 89233AA41 5,000,000 2.452 08/16/18 10/12/18 5,003,384 0.39% 89237BAQ6 12,000,000 2.330 08/28/18 11/20/18 12,004,260 0.93% 89233LAU9 10,000,000 2.516 09/28/18 12/19/18 10,005,085 0.77% 89233LAX3 5,000,000 2.499 08/24/18 10/24/18 5,004,148 0.39% 54,000,000 1.900 08/01/18 08/01/18 54,000,000 4.18% 50,000,000 1.890 08/01/18 08/01/18 50,000,000 3.87% 60,000,000 1.900 08/01/18 08/01/18 60,000,000 4.64% 59,000,000 1.890 08/01/18 08/01/18 59,000,000 4.56% 15,000,000 2.010 08/01/18 08/01/18 15,000,000 1.16% BMO Capital Markets Corp. 15,000,000 2.050 08/07/18 08/07/18 15,000,000 1.16% BMO Capital Markets Corp. 40,000,000 2.010 08/01/18 08/01/18 40,000,000 3.09% BNP Paribas Prime Brokerage, Inc. 5,000,000 2.637 08/27/18 10/25/18 (5) 5,000,000 0.39% BNP Paribas Prime Brokerage, Inc. 62,000,000 2.140 08/01/18 08/01/18 62,000,000 4.80% HSBC Securities USA, Inc. 7,000,000 2.110 08/01/18 08/01/18 7,000,000 0.54% HSBC Securities USA, Inc. 19,000,000 2.010 08/01/18 08/01/18 19,000,000 1.47% ING Financial Markets 15,000,000 2.010 08/01/18 08/01/18 15,000,000 1.16% JP Morgan Securities 14,000,000 2.591 08/22/18 10/29/18 (5) 14,000,000 1.08% Mizuho Securities USA, Inc. 16,000,000 2.010 08/01/18 08/01/18 16,000,000 1.24% Page 3 of 5
Scotia Capital USA, Inc. 64,000,000 2.110 08/01/18 08/01/18 64,000,000 4.95% SG Americas Securities 30,000,000 2.080 08/01/18 08/01/18 30,000,000 2.32% Wells Fargo Securities 10,000,000 2.740 09/21/18 09/21/18 10,000,000 0.77% Wells Fargo Securities 20,000,000 2.730 09/20/18 09/20/18 20,000,000 1.55% Wells Fargo Securities 5,000,000 2.060 08/01/18 08/01/18 5,000,000 0.39% U.S. Government Agency Repurchase Agreement, collateralized only by U.S. Government Agency securities, U.S. Treasuries, and cash Wells Fargo Securities 29,000,000 1.930 08/01/18 08/01/18 29,000,000 2.24% Total Market Value $ 1,292,757,213 100.00% Net Assets (⁴) $ 1,292,663,233 Institutional Funds Contact Details: Telephone Number: 1.800.236.0992 Email: msilfinternalsales@morganstanley.com Website: www.morganstanley.com/liquidity (1) The coupon rate shown reflects the effective rate as of the date on this report. (2) The date shown reflects the lower of the stated maturity date or the next interest rate reset date, which are used to calculate the portfolio's weighted average maturity (WAM). (3) The date shown reflects the lower of the stated final maturity date or the next demand feature date, which are used to calculate the portfolio's weighted average life (WAL). (4) Net Assets - The term used by an investment company to designate the access of the fair value of securities owned, cash, receivables, and other assets over the liabilities of the company. (5) Put Date Weighted average maturity (WAM) measures the weighted average of the maturities of the portfolio's individual holdings, taking into account reset dates for floating rate securities. Weighted average life (WAL) measures the weighted average of the maturities of the portfolio s individual holdings. Subject to change daily. Provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned or securities in the industries shown above. FLOATING NET ASSET VALUE (NAV) FUNDS You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Funds sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, contact your financial advisor or download a copy at morganstanley.com/liquidity. Please read the prospectus carefully before investing. Page 4 of 5
Morgan Stanley is a full service securities firm engaged in securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services. 2018 Morgan Stanley. Morgan Stanley Distribution, Inc. serves as the distributor for the Morgan Stanley Institutional Liquidity Funds and the Morgan Stanley Investment Adviser Funds. NOT FDIC INSURED OFFER NO BANK GUARANTEE MAY LOSE VALUE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT A DEPOSIT 2175951 Exp: 07/12/2019 Page 5 of 5