Morgan Stanley Investment Funds - stockselection

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89 Morgan Stanley Investment Funds 30 June 2009 Global Convertible Bond Fund STATEMENT OF INVESTMENTS (continued) Transferable securities and money market instruments admitted to official exchange listing or dealt in on another regulated market. As at 30 June 2009, expressed in US dollars. Investments Holdings/ Nominal in US dollars unless specified Market value % of net assets Agriculture Archer-Daniels-Midland Pfd Stock 6.25% /2011 149,359 5,523,295 1.79 Archer-Daniels-Midland sr unsecur CV 0.875% /2014 5,981,000 5,517,472 1.78 Wilmar International unsubord SerWIL CV 0% /2012 2,400,000 2,619,180 0.85 Total for Agriculture 4.42 Electronics Toshiba sr unsecur CV 0% /2011 (JPY) 740,000,000 7,522,040 2.43 LG Display unsubord CV 0% /2012 3,600,000 3,699,615 1.20 Hosiden unsubord SerHOSE CV 0% /2014 (JPY) 150,000,000 1,678,057 0.54 Total for Electronics 4.17 Health Care Products Beckman Coulter sr unsecur CV 2.5% /2036 5,032,000 5,000,550 1.61 Medtronic sr unsecur CV 1.5% /2011 4,599,000 4,472,527 1.45 Medtronic sr unsecur CV 1.625% /2013 1,732,000 1,602,100 0.52 Total for Health Care Products 3.58 Biotechnology Gilead Sciences sr unsecur CV 0.625% /2013 3,207,000 4,177,117 1.35 Amgen sr unsecur CV 0.375% /2013 3,583,000 3,247,094 1.05 Amgen sr unsecur CV 0.125% /2011 1,798,000 1,717,090 0.56 Millipore sr unsecur CV 3.75% /2026 1,693,000 1,688,767 0.55 Total for Biotechnology 3.51 Semiconductors Intel jr subord CV 2.95% /2035 5,924,000 4,983,565 1.61 Linear Technology sr unsecur SerA CV 3% /2027 2,186,000 1,817,112 0.59 Micron Technology sr unsecur CV 1.875% /2014 2,742,000 1,634,917 0.53 Infineon Technologies Holding co gtd CV 5% /2010 (EUR) 1,150,000 1,478,670 0.48 Micron Technology sr unsecur CV 4.25% /2013 579,000 683,944 0.22 Total for Semiconductors 3.43 Computers EMC sr unsecur CV 1.75% /2011 3,758,000 3,932,183 1.27 Cap Gemini sr unsecur SerCAP CV 1% /2012 (EUR) 6,778,800 3,888,114 1.26 Cap Gemini sr unsecur CV 3.5% /2014 (EUR) 3,451,000 1,822,760 0.59 EMC sr unsecur CV 1.75% /2013 841,000 873,589 0.28 Total for Computers 3.40 Telecommunications Portugal Telecom International Finance keepwell agrmnt SerPTC CV 4.125% /2014 (EUR) 2,600,000 3,578,139 1.15 Qwest Communications International sr unsecur CV 3.5% /2025 2,794,000 2,766,060 0.90 Investments Holdings/ Nominal in US dollars unless specified Market value % of net assets Telecommunications (continued) Weather Capital Finance co gtd SerORAS CV 4.75% /2013 (EUR) 1,800,000 2,411,587 0.78 Softbank sr unsecur CV 1.5% /2013 (JPY) 88,000,000 975,599 0.32 Total for Telecommunications 3.15 Pharmaceuticals Teva Pharmaceutical Finance co gtd SerD CV 1.75% /2026 2,933,000 3,303,291 1.07 Allergan sr unsecur CV 1.5% /2026 2,491,000 2,547,048 0.82 Teva Pharmaceutical Finance co gtd SerB CV 0.25% /2024 1,113,000 1,577,678 0.51 Wyeth sr unsecur CV 0.965% /2024 (3) 853,000 855,133 0.28 Teva Pharmaceutical Finance co gtd SerD CV 1.75% /2026 133,000 149,791 0.05 Total for Pharmaceuticals 2.73 Media News Corp Finance Trust II Ser144A priv plmt Pfd Stock 0.75% /2023 5,681 5,517,671 1.79 Liberty Media sr unsecur CV 3.125% /2023 2,156,000 1,835,295 0.59 WPP co gtd SerWPP CV 5.75% /2014 (GBP) 500,000 865,780 0.28 Total for Media 2.66 Beverages Asahi Breweries sr unsecur CV 0% /2028 (JPY) 489,000,000 4,612,728 1.49 Molson Coors Brewing co gtd CV 2.5% /2013 2,843,000 3,049,118 0.99 Total for Beverages 2.48 Venture Capital 3i Group sr unsecur CV 3.625% /2011 (GBP) 4,700,000 7,148,473 2.31 Total for Venture Capital 2.31 Oil & Gas Services Subsea 7 sr unsubord SerSUB CV 2.8% /2011 3,300,000 2,806,650 0.91 Acergy sr unsecur SerACY CV 2.25% /2013 2,800,000 2,300,060 0.74 Cameron International sr unsecur CV 2.5% /2026 1,659,000 1,907,850 0.62 Total for Oil & Gas Services 2.27 Energy - Alternate Sources Q-Cells International Finance co gtd SerQCEL CV 1.375% /2012 (EUR) 3,600,000 3,784,155 1.22 Theolia sr unsecur SerTHLA CV 2% /2014 (EUR) 27,781,000 3,108,700 1.01 Total for Energy - Alternate Sources 2.23 Electric YTL Power Finance Cayman co gtd CV 0% /2010 5,000,000 5,908,500 1.91 Total for Electric 1.91 Construction & Engineering YTL Corp Finance Labuan co gtd CV 0% /2012 5,400,000 5,539,752 1.79 Total for Construction & Engineering 1.79
Global Convertible Bond Fund STATEMENT OF INVESTMENTS (continued) Transferable securities and money market instruments admitted to official exchange listing or dealt in on another regulated market. As at 30 June 2009, expressed in US dollars. Investments Holdings/ Nominal in US dollars unless specified Market value % of net assets Internet Symantec sr unsecur CV 0.75% /2011 3,869,000 3,927,035 1.27 Matsui Securities sr unsubord CV 0% /2011 (JPY) 148,000,000 1,484,691 0.48 Total for Internet 1.75 Electrical Equipment & Components Suntech Power Holdings sr unsecur CV 0.25% /2012 5,378,000 5,130,074 1.66 Total for Electrical Equipment & Components 1.66 Iron/Steel ArcelorMittal sr unsecur CV 7.25% /2014 (EUR) 6,400,300 2,581,005 0.83 Allegheny Technologies sr nts CV 4.25% /2014 2,181,000 2,399,100 0.78 Total for Iron/Steel 1.61 Entertainment International Game Technology sr unsecur CV 2.6% /2036 2,419,000 2,400,858 0.78 International Game Technology sr unsecur Ser144A priv plmt CV 3.25% /2014 1,342,000 1,459,425 0.47 Total for Entertainment 1.25 Food J Sainsbury unsubord CV 4.25% /2014 (GBP) 2,200,000 3,846,825 1.24 Total for Food 1.24 Home Furnishings Sharp sr unsecur CV 0% /2013 (JPY) 356,000,000 3,421,049 1.11 Total for Home Furnishings 1.11 Auto Manufacturers Suzuki Motor unsecur Ser4 CV 0% /2013 (JPY) 320,000,000 3,343,550 1.08 Total for Auto Manufacturers 1.08 Chemicals KCC unsubord SerC CV 0% /2012 3,400,000 3,332,989 1.08 Total for Chemicals 1.08 Commercial Services USG People subord SerUSG CV 3% /2012 (EUR) 1,452,000 1,803,620 0.58 Adecco Financial Services Bermuda co gtd CV 0% /2013 (CHF) 1,515,000 1,501,855 0.49 Total for Commercial Services 1.07 Investments Morgan Stanley Investment Funds 30 June 2009 90 Holdings/ Nominal in US dollars unless specified Market value % of net assets Leisure Time Carnival sr unsubord CV 2% /2021 1,704,000 1,648,620 0.54 Carnival co gtd step cpn CV 0.5% /2033 2,359,000 1,551,043 0.50 Total for Leisure Time 1.04 REITS Vornado Realty sr unsecur CV 3.875% /2025 1,705,000 1,581,388 0.51 Unibail-Rodamco CV 3.5% /2015 (EUR) 575,000 1,235,055 0.40 Total for REITS 0.91 Miscellaneous Manufacturing Danaher sr unsecur CV 0% /2021 2,626,000 2,442,180 0.79 Total for Miscellaneous Manufacturing 0.79 Transportation Nippon Yusen CV 0% /2026 (JPY) 220,000,000 2,248,292 0.73 Total for Transportation 0.73 Software Sybase jr subord CV 1.75% /2025 1,508,000 1,962,285 0.63 Total for Software 0.63 Aerospace/Defense L-3 Communications Holdings co gtd CV 3% /2035 1,825,000 1,765,688 0.57 Total for Aerospace/Defense 0.57 Retail Don Quijote unsubord CV 0% /2011 (JPY) 140,000,000 1,568,252 0.51 Total for Retail 0.51 Investment Companies Hongkong Land CB 2005 co gtd SerRegS CV 2.75% /2012 1,000,000 1,108,750 0.36 Total for Investment Companies 0.36 Health Care Services Laboratory Corp of America Holdings subord CV 0% /2021 1,095,000 1,003,294 0.32 Total for Health Care Services 0.32 Airlines Societe Air France sr unsecur CV 2.75% /2020 (EUR) 3,206,700 860,385 0.28 Total for Airlines 0.28 Advertising Omnicom Group sr unsecur CV 0% /2032 850,000 846,816 0.27 Total for Advertising 0.27 Total Investment Securities 297,244,695 96.18
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