Morgan Stanley Institutional Liquidity Tax-Exempt Portfolio Advisor Class
MAXXX
Tax-ExemptRetail7-day Yield
#397
3.12%
as of 4/30/2026
Net assets
$50K
Expense ratio
0.20%
WAM
17
WAL
18
Minimum
$1M
Holding details
77% Variable Rate Demand Notes
20% Municipal Bonds
3% Other Money Market Funds
Performance
Portfolio Securities
| Security | Cusip | Maturity | Yield | Total Value | %Percent | |
|---|---|---|---|---|---|---|
| Indiana Municipal Power Agency Variable Rate Demand Power Supply System Refunding Revenue Bonds, 2019 Series B (IN) 3.400000% | 454898XD4 | 1/1/2042 | 3.40% | $18,000,000 | 3.01% | |
| Utah County, Utah Variable Rate Hospital Revenue Bonds, Series 2016C (IHC Health Care Services, Inc.) (UT) 3.500000% | 917393BK5 | 5/15/2051 | 3.50% | $15,000,000 | 2.51% | |
| New York City Municipal Water Finance Authority Water and Sewer System Second General Resolution Revenue Bonds, Adjustable Rate Fiscal 2025 (NY) 3.440000% | 64972GQ49 | 6/15/2055 | 3.44% | $15,000,000 | 2.51% | |
| Mississippi Business Finance Corporation Gulf Opportunity Zone Industrial Development Revenue Bonds (Chevron U.S.A., Inc. Project) Series 2009F (MS) 3.400000% | 60528ABN3 | 12/1/2030 | 3.40% | $13,700,000 | 2.29% | |
| JP Morgan Chase Putters/Drivers Trust Various States Certificates 5053 (NA) 3.400000% | 46640KE91 | 5/1/2047 | 3.40% | $13,700,000 | 2.29% | |
| Texas Transportation Commission, Mobility Fund, Texas Transportation Commission Mobility Fund, Series 2006-B (TX) 3.470000% | 882721RM7 | 4/1/2036 | 3.47% | $12,500,000 | 2.09% | |
| State of Louisiana Gasoline and Fuels Tax Second Lien Revenue Refunding Bonds 2023 Series A-1 (LA) 3.350000% | 546475VV3 | 5/1/2043 | 3.35% | $12,100,000 | 2.02% | |
| Ohio Water Development Authority, State of Ohio Water Pollution Control Loan Fund Revenue Bonds Series 2024C (OH) 3.350000% | 67766WQ21 | 12/1/2054 | 3.35% | $12,000,000 | 2.00% | |
| Utah Water Finance Agency Program Revenue Bonds B-1 (UT) 3.200000% | 917572TU3 | 10/1/2037 | 3.20% | $10,395,000 | 1.74% | |
| Mississippi Business Finance Corporation Gulf Opportunity Zone Industrial Development Revenue Bonds, Mississippi Business Finance Corporation Gulf Opportunity Zone Industrial Development Revenue Bonds (Chevron U.S.A., Inc. Project) (MS) 3.450000% | 60528ACA0 | 11/1/2035 | 3.45% | $10,000,000 | 1.67% | |
| Gulf Coast Industrial Development Authority Revenue Bonds (Exxonmobil Project) Series 2012 (TX) 3.400000% | 402207AD6 | 11/1/2041 | 3.40% | $10,000,000 | 1.67% | |
| City of San Antonio, Texas Water System Subordinate Lien Revenue Refunding Bonds, Series 2024A (TX) 3.400000% | 79642GQR6 | 5/1/2054 | 3.40% | $10,000,000 | 1.67% | |
| Utah Water Finance Agency Program Revenue Bonds Series B-2 (UT) 3.200000% | 917572TV1 | 10/1/2035 | 3.20% | $9,700,000 | 1.62% | |
| City of Colorado Springs, Colorado Variable Rate Demand Utilities System Refunding Revenue Bonds, Series 2009C (CO) 3.080000% | 196632GW7 | 11/1/2028 | 3.08% | $9,300,000 | 1.55% | |
| Tender Option Bond Trust Reciepts/Certificates Various States Certificates 2023-BAML 6005 (NA) 3.240000% | 88035FY79 | 12/1/2037 | 3.24% | $9,200,000 | 1.54% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E 155 3.130000% | 74934RX76 | 1/1/2027 | 3.13% | $9,000,000 | 1.50% | |
| JP Morgan Chase Putters/Drivers Trust Various States Certificates 5077 (NA) 3.120000% | 46640KP40 | 11/13/2029 | 3.12% | $9,000,000 | 1.50% | |
| Columbus Ohio Sewer Revenue System Variable Rate Bonds 2008B (OH) 3.000000% | 199561FU0 | 6/1/2032 | 3.00% | $9,000,000 | 1.50% | |
| Orlando Utilities Commission Utility System Revenue Bonds Series 2008-1 (FL) 3.470000% | 686507DZ4 | 10/1/2033 | 3.47% | $9,000,000 | 1.50% | |
| New York City Transitional Finance Authority Future Tax Secured Subordinate Bonds Fiscal 2023 Series A (NY) 3.040000% | 64971QYJ6 | 8/1/2039 | 3.04% | $9,000,000 | 1.50% | |
| City of Jacksonville, Florida Pollution Control Revenue Refunding Bonds (Florida Power & Light Company Project) Series 1995 (FL) 3.200000% | 469422AD1 | 5/1/2029 | 3.20% | $8,500,000 | 1.42% | |
| Indiana Finance Authority Duke Energy Indiana, Inc. Series 2009A-4 (IN) 3.400000% | 455054AJ5 | 12/1/2039 | 3.40% | $8,200,000 | 1.37% | |
| Indiana Finance Authority Environmental Refunding Revenue Bonds, Duke Energy Indiana, Inc., Indiana Finance Authority Environmental Refunding Revenue Bonds Series 2009A-5 (Duke Energy Indiana, Inc. Project) (IN) 3.400000% | 455054AF3 | 10/1/2040 | 3.40% | $8,000,000 | 1.34% | |
| Long Island Power Authority Electric System General Revenue Bonds, Series 2026A (NY) 2.900000% | 542691LJ7 | 9/1/2042 | 2.90% | $8,000,000 | 1.34% | |
| Hampton Roads Sanitation District, Virginia Subordinate Wastewater Revenue Bonds, Series 2016B (VA) 3.000000% | 409327HZ9 | 8/1/2046 | 3.00% | $7,600,000 | 1.27% | |
| Long Island Power Authority Electric System General Revenue Bonds, Series 2023D (NY) 2.900000% | 542691HU7 | 5/1/2033 | 2.90% | $7,500,000 | 1.25% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E-166 (NA) 3.120000% | 74934R4D5 | 8/1/2029 | 3.12% | $7,000,000 | 1.17% | |
| New York State Energy Research & Development Authority (Consolidated Edison Co. of New York, Inc. Project) Facilities Revenue Bonds Series 2005A, (NY) 3.300000% | 64984EDG7 | 5/1/2039 | 3.30% | $7,000,000 | 1.17% | |
| New York State Energy Research & Development Authority, New York State Energy Research And Development Authority Facilities Revenue Bonds, Series 2005A Consolidated Edison Company Of New York Inc Project (NY) 2.800000% | 64984EDH5 | 5/1/2039 | 2.80% | $7,000,000 | 1.17% | |
| New York State Energy Research & Development Authority Facilities Revenue Bonds, Series 2005A (NY) 2.800000% | 64984EDJ1 | 5/1/2039 | 2.80% | $7,000,000 | 1.17% | |
| JP Morgan Chase Putters/Drivers Trust Various States Certificates 5093 (NA) 3.120000% | 46640KT87 | 7/1/2040 | 3.12% | $7,000,000 | 1.17% | |
| Tender Option Bond Trust Reciepts/Certificates Various States Certificates 2023-BAML5063 (NA) 3.290000% | 88035MDW2 | 11/1/2054 | 3.29% | $7,000,000 | 1.17% | |
| Industrial Development Board of the Parish of East Baton Rouge Louisiana, Inc. Revenue Bonds, Exxonmobil Project, Series 2010A, Gulf Opportunity Zone Bonds (LA) 3.450000% | 270777AC9 | 8/1/2035 | 3.45% | $6,700,000 | 1.12% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E 168 3.120000% | 74934R5G7 | 6/16/2026 | 3.12% | $6,500,000 | 1.09% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E 165 3.120000% | 74934R3Z7 | 9/1/2028 | 3.12% | $6,500,000 | 1.09% | |
| Miami-Dade County Industrial Development Authority Revenue Refunding Bonds (Florida Power & Light Company Project) Series 2021 (FL) 3.100000% | 59333CAX5 | 5/1/2046 | 3.10% | $6,500,000 | 1.09% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E 158 3.120000% | 74934R2T2 | 7/1/2028 | 3.12% | $6,315,000 | 1.06% | |
| Metropolitan Sewerage District of Buncombe County, North Carolina Sewerage System Revenue Refunding Bonds Series 2008A (NC) 3.040000% | 120532GQ3 | 7/1/2031 | 3.04% | $6,040,000 | 1.01% | |
| Massachusetts Water Resources Authority Multi-Modal Subordinated General Revenue Bonds, 1999 Series B (MA) 2.920000% | 576049RU6 | 8/1/2028 | 2.92% | $6,000,000 | 1.00% | |
| City of Colorado Springs, Colorado Utilities System Improvement Revenue Bonds, Series 2012A (CO) 2.900000% | 196632NP4 | 11/1/2041 | 2.90% | $6,000,000 | 1.00% | |
| State of Texas, Veterans Bonds, State of Texas Veterans Bonds, Series 2022 (TX) 3.000000% | 882724E78 | 6/1/2053 | 3.00% | $5,850,000 | 0.98% | |
| City of Colorado Springs, Colorado Variable Rate Demand Utilities System Subordinate Lien, Series 2006B (CO) 3.050000% | 196632BH5 | 11/1/2036 | 3.05% | $5,500,000 | 0.92% | |
| County of Franklin, Ohio Revenue Bonds, CHE Trinity Health Credit Group, Series 2013OH (OH) 3.027000% | 353202FK5 | 12/1/2046 | 3.03% | $5,375,000 | 0.90% | |
| State of Texas, Veterans Bonds, State of Texas Veterans Bonds, Series 2025B (TX) 3.450000% | 8827242R7 | 12/1/2055 | 3.45% | $5,300,000 | 0.89% | |
| County of Clark, NV Airport System Subordinate Lien Revenue Bonds Series 2008D-2B (NV) 2.950000% | 18085PNC4 | 7/1/2040 | 2.95% | $5,200,000 | 0.87% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series E 159 3.120000% | 74934R2Z8 | 9/1/2028 | 3.12% | $5,000,000 | 0.84% | |
| JP Morgan Chase Putters/Drivers Trust Various States Certificates 5065 (NA) 3.120000% | 46640KK52 | 7/1/2031 | 3.12% | $5,000,000 | 0.84% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series G-130 (NA) 3.120000% | 74934R5V4 | 12/15/2033 | 3.12% | $5,000,000 | 0.84% | |
| Loudoun County Individual Development Authority Revenue BDS Howard Hughes Medical Institute 2003 D (VA) 2.900000% | 545910AH4 | 2/15/2038 | 2.90% | $5,000,000 | 0.84% | |
| Missouri State Health & Educational Facilities Authority Health Facilities, BJC Health System Series C (MO) 3.100000% | 60635R2G1 | 5/15/2038 | 3.10% | $5,000,000 | 0.84% | |
| Pennsylvania Turnpike Commission Variable Rate Turnpike Revenue Bonds Second Series of 2019 (PA) 3.120000% | 709224M30 | 12/1/2038 | 3.12% | $5,000,000 | 0.84% | |
| Escambia County, Florida Solid Waste Disposal Revenue Bonds (Gulf Power Company Project) First Series 2009 (FL) 2.950000% | 296163BG2 | 4/1/2039 | 2.95% | $5,000,000 | 0.84% | |
| Escambia County, Florida Solid Waste Disposal Revenue Bonds (Gulf Power Company Project) First Series 2009 (FL) 3.350000% | 296163BJ6 | 4/1/2039 | 3.35% | $5,000,000 | 0.84% | |
| Indiana Finance Authority Environmental Refunding Revenue Bonds, Duke Energy Indiana, Inc., Indiana Finance Authority Environmental Refunding Revenue Bonds, Series 2009A-3, Duke Energy Indiana, Inc. Project (IN) 3.000000% | 455054AG1 | 12/1/2039 | 3.00% | $5,000,000 | 0.84% | |
| City Municipal Water Finance Authority Water and Sewer System Second General Resolution Revenue Bonds, Adjustable Rate Series 1012 AA- Adjustable Rate Bonds (NY) 2.900000% | 64972GAS3 | 6/15/2046 | 2.90% | $5,000,000 | 0.84% | |
| Tender Option Bond Trust Reciepts/Certificates Various States Certificates 2024-BAML 5050 (NA) 3.110000% | 88035HTF3 | 3/1/2049 | 3.11% | $5,000,000 | 0.84% | |
| Wisconsin Housing and Economic Development Authority Home Ownership Revenue Bonds, 2025 Series C (Variable Rate Demand) (Non-Amt) (Social Bonds) (WI) 3.050000% | 97689QWE2 | 9/1/2050 | 3.05% | $5,000,000 | 0.84% | |
| National Finance Authority Health Care Facilities Revenue Bonds Novant Health Obligated Group 2024 C (NH) 3.150000% | 63610BAB1 | 11/1/2064 | 3.15% | $5,000,000 | 0.84% | |
| JP Morgan Chase Putters/Drivers Trust Various States Certificates 5076 (NA) 3.120000% | 46640KN75 | 9/26/2031 | 3.12% | $4,900,000 | 0.82% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series 2023 3.130000% | 74934R2B1 | 7/15/2035 | 3.13% | $4,910,000 | 0.82% | |
| RBC Municipal Products Trust Inc, Various States Certificates Series C 20 3.130000% | 74934RV52 | 5/1/2039 | 3.13% | $2,000,000 | 0.33% | |
| Tender Option Bond Trust Reciepts/Certificates Various States Certificates 2023-BAML 6007 (NA) 3.240000% | 88035GRC4 | 4/1/2056 | 3.24% | $1,900,000 | 0.32% | |
| City of Charlotte, North Carolina General Obligation Refunding Bonds, Series 2025B (NC) 5.000000% | 161035PT1 | 7/1/2026 | 2.61% | $7,499,143 | 1.25% | |
| The Bergen County Improvement Authority County Guaranteed Revenue Bonds (Bergen New Bridge Medical Center Project) Series 2025 (NJ) 4.000000% | 083778PY0 | 6/30/2026 | 2.74% | $6,813,006 | 1.14% | |
| Nebraska Public Power Distribution IAM Series A (NE) 2.920000% | 63969JAH8 | 5/21/2026 | 2.92% | $5,998,239 | 1.00% | |
| State of North Carolina Limited Obligation Refunding Bonds, Series 2025B (NC) 5.000000% | 65829QGA6 | 5/1/2026 | 5.00% | $5,250,000 | 0.88% | |
| Missouri Health & Educational Facilities Authority, Series D (MO) 3.120000% | 60630CAK1 | 5/1/2026 | 3.12% | $4,999,910 | 0.84% | |
| Louisville and Jefferson County Metropolitan Sewer District & Drain System Revenue IAM (KY) 3.130000% | 54660FCU6 | 5/5/2026 | 3.13% | $4,999,551 | 0.84% | |
| Massachusetts State Developing Finance Agency Revenue VRDO IAM Series 2025A (MA) 3.000000% | 57585DAQ7 | 5/6/2026 | 3.00% | $4,999,645 | 0.84% | |
| San Antonio Texas Electric & Gas Revenue IAM Subseries D-1 (TX) 3.050000% | 79627PAB7 | 5/12/2026 | 3.05% | $4,999,214 | 0.84% | |
| Lincoln Nebraska Electric System Revenue IAM Series 2020 (NE) 2.920000% | 53427THV5 | 5/21/2026 | 2.92% | $4,998,530 | 0.84% | |
| Nebraska Public Power Distribution IAM Series A (NE) 2.920000% | 63969JAG0 | 5/21/2026 | 2.92% | $4,998,525 | 0.84% | |
| Pennsylvania Higher Educational Facilities Authority Revenue IAM 29 (PA) 2.870000% | 70917UBE7 | 5/21/2026 | 2.87% | $4,998,685 | 0.84% | |
| The Bergen County Improvement Authority County Guaranteed Governmental Pooled Project Notes, Series 2025A (NJ) 4.000000% | 083773EC1 | 5/21/2026 | 2.69% | $5,003,360 | 0.84% | |
| Oklahoma City Water Utilities Trust IAM 131 (OK) 2.580000% | 67866BFL6 | 6/16/2026 | 2.58% | $4,998,991 | 0.84% | |
| New York State Power Authority IAM Series 4 (NY) 2.550000% | 65000DAA2 | 6/17/2026 | 2.55% | $5,000,166 | 0.84% | |
| University of Texas Permanent University Funding IAM, Series A (TX) 2.500000% | 91514CUF6 | 8/27/2026 | 2.50% | $4,999,978 | 0.84% | |
| The Bergen County Improvement Authority County Guaranteed Governmental Pooled Project Notes, Series 2025A (NJ) 4.000000% | 083773ED9 | 10/14/2026 | 2.67% | $5,028,476 | 0.84% | |
| Illinois Finance Authority Revenue IAM (IL) 2.650000% | 45203UAR4 | 10/5/2026 | 2.65% | $4,996,701 | 0.83% | |
| Illinois Finance Authority Revenue IAM (IL) 2.650000% | 45203UAS2 | 10/6/2026 | 2.65% | $4,996,688 | 0.83% | |
| State of Ohio Major New State Infrastructure Project Revenue and Refunding Bonds, Series 2026-1 (OH) 5.000000% | 677581KC3 | 12/15/2026 | 2.53% | $4,564,068 | 0.76% | |
| State of Tennessee General Obligation Bonds, 2023 Series A (TN) 5.000000% | 880541G84 | 5/1/2026 | 5.00% | $4,005,000 | 0.67% | |
| Denver Colorado City and County Board Water Commisioner Water Revenue Sub Lien Series 2023 A IAM (CO) 2.750000% | 24917HBR4 | 6/4/2026 | 2.75% | $3,998,622 | 0.67% | |
| Hampton Roads Sanitation District, Virginia Subordinate Wastewater Revenue Bonds Series 2025A (VA) 5.000000% | 409327MW0 | 7/15/2026 | 2.62% | $3,441,397 | 0.57% | |
| Commonwealth of Virginia General Obligation Refunding Bonds, Series 2024B (VA) 5.000000% | 928110CC7 | 6/1/2026 | 2.61% | $2,504,862 | 0.42% | |
| Miami-Dade County, Florida Water and Sewer System Revenue Refunding Bonds, Series 2025B (FL) 5.000000% | 59334DQQ0 | 10/1/2026 | 2.67% | $2,523,862 | 0.42% | |
| Del Valle Independent School District, TX Unlimited Tax Refunding Bonds, Del Valle Independent School District (A Political Subdivision of The State of Texas Located In Travis County) Unlimited Tax Refunding Bonds, Series 2025B (TX) 5.000000% | 245505YU0 | 6/15/2026 | 2.58% | $2,005,775 | 0.34% | |
| Omaha Public Power District Revenue IAM (NE) 2.600000% | 68179S3S7 | 8/18/2026 | 2.60% | $1,999,998 | 0.33% | |
| Texas Transportation Commission State of Texas General Obligation Mobility Fund Refunding Bonds, Texas Transportation Commission State of Texas General Obligtation Mobility Fund, Refunding Bonds, Series 2025 (TX) 5.000000% | 882725CQ5 | 10/1/2026 | 2.60% | $1,009,837 | 0.17% | |
| City of Austin, Texas Public Improvement & Refunding Bonds, Series 2025 (TX) 5.000000% | 0523973C8 | 9/1/2026 | 2.68% | $926,976 | 0.15% | |
| Texas Transportation Commission State of Texas General Obligation Mobility Fund Refunding Bonds, Texas Transportation Commission, State of Texas General Obligation Mobility Fund, Refunding Bonds, Series 2024 (TX) 5.000000% | 8827242A4 | 10/1/2026 | 2.60% | $489,771 | 0.08% | |
| Nuveen AMT-Free Municipal Income Fund VRDP - NEA 1 (MA) 3.170000% | 670657857 | 9/11/2026 | 3.17% | $10,000,000 | 1.67% | |
| Nuveen AMT-Free Municipal Credit Income Fund, Series 1 (OT) 3.160000% | 67071L700 | 12/1/2043 | 3.16% | $10,000,000 | 1.67% |