MainStay WMC International Research Equity Fund

Portfolio of Investments July 31, 2021† (Unaudited)

Shares Value Common Stocks 95.2% 3.8% Australia & New Zealand Banking Group Ltd. (Banks) 88,252 $ 1,794,603 BHP Group plc (Metals & Mining) 66,077 2,134,525 Brambles Ltd. (Commercial Services & Supplies) 24,108 205,577 of Australia (Banks) 9,848 720,166 (Equity Estate Investment Trusts) 75,234 1,249,965 Ltd. (Metals & Mining) 45,621 886,858 Orora Ltd. (Containers & Packaging) 79,591 210,268 plc (Metals & Mining) 18,985 1,610,002 8,811,964

Austria 0.5% BAWAG Group AG (Banks) (a) 12,723 723,844 Erste Group Bank AG (Banks) 13,013 504,933 1,228,777

Belgium 0.7% KBC Group NV (Banks) 7,833 630,920 UCB SA (Pharmaceuticals) 10,123 1,095,167 1,726,087

Brazil 1.7% Cia de Saneamento Basico do Estado de Sao Paulo (Water Utilities) 90,700 617,524 Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) 67,700 357,462 Rumo SA (Road & Rail) () 73,700 292,352 StoneCo Ltd., Class A (IT Services) (b) 17,827 1,048,941 Vale SA (Metals & Mining) 45,600 952,231 XP, Inc., Class A ( Markets) (b) 14,542 597,094 3,865,604

Canada 4.6% Agnico Eagle Mines Ltd. (Metals & Mining) 7,398 478,593 Barrick Gold Corp. (Metals & Mining) 33,234 723,497 Boat Rocker Media, Inc. (Entertainment) (b) 54,867 368,976 Brookfield Asset Management, Inc., Class A (Capital Markets) 23,283 1,257,049 Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) 24,390 804,854 International Group, Inc. (Real Estate Management & Development) 8,524 1,093,718 Constellation Software, Inc. (Software) 618 989,924 Intact Financial Corp. (Insurance) 9,943 1,354,849 POS, Inc. (Software) (b) 3,959 339,003 Methanex Corp. (Chemicals) 13,658 460,230 Nuvei Corp. (IT Services) (a)(b) 11,893 975,226 Shopify, Inc., Class A (IT Services) (b) 1,254 1,882,608 10,728,527

Cayman Islands 0.1% Patria Investments Ltd., Class A (Capital Markets) 15,000 234,750

China 8.6% Holding Ltd., Sponsored ADR (Internet & Direct Marketing ) (b) 20,267 3,955,916 Shares Value Common Stocks Angelalign Technology, Inc. (Health Care Equipment & Supplies) (a)(b) 200 $ 10,681 BeiGene Ltd. ADR (Biotechnology) (b) 960 303,927 China Bank Corp., Class H (Banks) 1,376,000 959,693 China Longyuan Power Group Corp. Ltd., Class H (Independent Power and Renewable Electricity Producers) 1,527,000 2,853,122 China Merchants Bank Co. Ltd., Class H (Banks) 172,000 1,310,282 China Pacific Insurance Group Co. Ltd., Class H (Insurance) 149,359 420,911 China Yangtze Power Co. Ltd., Class A (Independent Power and Renewable Electricity Producers) 170,200 500,875 ENN Energy Holdings Ltd. (Gas Utilities) 37,500 784,150 Meituan (Internet & Direct Marketing Retail) (b) 13,200 365,197 Minth Group Ltd. (Auto Components) 164,000 692,201 Ningbo Joyson Electronic Corp., Class A (Auto Components) 222,640 872,794 Niu Technologies, Sponsored ADR (Automobiles) (b)(c) 25,092 642,355 Ping An Insurance Group Co. of China Ltd., Class H (Insurance) 118,390 1,038,235 Precision Tsugami China Corp. Ltd. (Machinery) 225,114 315,750 Tencent Holdings Ltd. (Interactive Media & Services) 64,600 3,981,830 Zai Lab Ltd. ADR (Biotechnology) (b) 6,010 869,106 19,877,025

Denmark 2.3% A.P. Moller - Maersk A/S, Class B (Marine) 136 377,681 Carlsberg A/S, Class B (Beverages) 19,128 3,536,743 Genmab A/S (Biotechnology) (b) 3,302 1,492,772 5,407,196

Finland 0.5% Cargotec Oyj, Class B (Machinery) 9,743 522,636 Kone Oyj, Class B (Machinery) 6,997 579,520 1,102,156

France 9.7% Accor SA (Hotels, Restaurants & Leisure) 14,358 508,581 Airbus SE (Aerospace & Defense) 6,188 849,298 Arkema SA (Chemicals) 3,167 402,923 AXA SA (Insurance) 65,379 1,696,922 Bureau Veritas SA (Professional Services) 27,175 897,460 Capgemini SE (IT Services) 3,763 813,538 Credit Agricole SA (Banks) 83,749 1,168,324 Criteo SA, Sponsored ADR (Media) (b) 13,263 514,472 Edenred (IT Services) 15,083 876,360 Engie SA (Multi-Utilities) 102,742 1,371,368 SE (Auto Components) 23,222 1,036,597 JCDecaux SA (Media) 20,032 546,548 Kering SA (Textiles, Apparel & Luxury Goods) 1,426 1,279,182 LVMH Moet Hennessy Louis Vuitton SE (Textiles, Apparel & Luxury Goods) 3,585 2,865,899 Pernod Ricard SA (Beverages) 15,975 3,526,659 Rothschild & Co. (Capital Markets) 7,103 265,838 Safran SA (Aerospace & Defense) 2,372 310,360 TotalEnergies SE (Oil, Gas & Consumable Fuels) 44,028 1,916,776 Vinci SA (Construction & ) 8,312 879,620 Shares Value Common Stocks France Worldline SA (IT Services) (a)(b) 7,197 $ 673,689 22,400,414

Germany 2.7% Brenntag SE (Trading Companies & Distributors) 11,257 1,124,375 Carl Zeiss Meditec AG (Health Care Equipment & Supplies) 1,931 430,184 Commerzbank AG (Banks) 56,347 363,618 Deutsche Telekom AG (Registered) (Diversified Telecommunication Services) 49,248 1,022,708 RWE AG (Multi-Utilities) 24,693 879,055 Siemens AG (Registered) (Industrial Conglomerates) 4,721 736,886 Siemens Healthineers AG (Health Care Equipment & Supplies) (a) 13,883 916,978 AG (Insurance) 9,370 398,590 United Internet AG (Registered) (Diversified Telecommunication Services) 9,648 399,428 6,271,822

Greece 0.2% Hellenic Telecommunications Organization SA (Diversified Telecommunication Services) 28,540 520,699

Hong Kong 2.2% AIA Group Ltd. (Insurance) 154,446 1,850,295 CK Asset Holdings Ltd. (Real Estate Management & Development) 180,000 1,226,459 HKBN Ltd. (Diversified Telecommunication Services) 299,000 348,205 Hong Kong Exchanges & Clearing Ltd. (Capital Markets) 10,898 695,574 Link REIT (Equity Real Estate Investment Trusts) 92,500 884,393 5,004,926

Ireland 1.0% AerCap Holdings NV (Trading Companies & Distributors) (b) 11,543 611,779 AIB Group plc (Banks) 23,296 57,259 Holdings plc, Sponsored ADR (Airlines) (b) 5,772 629,379 Smurfit Group plc (Containers & Packaging) 15,886 896,446 2,194,863

Israel 0.5% Wix.com Ltd. (IT Services) (b) 3,724 1,112,135

Italy 2.0% Banca Generali SpA (Capital Markets) (b) 14,081 584,793 Davide Campari-Milano NV (Beverages) 48,038 675,843 DiaSorin SpA (Health Care Equipment & Supplies) 2,867 582,077 Ferrari NV (Automobiles) 6,775 1,477,574 Stevanato Group SpA (Life Sciences Tools & Services) (b) 12,300 248,337 UniCredit SpA (Banks) 80,025 959,549 4,528,173

Japan 19.5% Advantest Corp. (Semiconductors & Semiconductor Equipment) 13,900 1,217,620 Amada Co. Ltd. (Machinery) 62,600 637,955 Shares Value Common Stocks Japan Asahi Group Holdings Ltd. (Beverages) 48,800 $ 2,184,557 Asahi Intecc Co. Ltd. (Health Care Equipment & Supplies) 11,800 318,166 Astellas Pharma, Inc. (Pharmaceuticals) 70,900 1,123,879 Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals) 24,500 897,771 Daiichi Sankyo Co. Ltd. (Pharmaceuticals) 66,200 1,303,121 East Japan Railway Co. (Road & Rail) 16,700 1,108,208 Eisai Co. Ltd. (Pharmaceuticals) 8,900 728,761 FANUC Corp. (Machinery) 3,700 822,260 GMO Payment Gateway, Inc. (IT Services) 6,900 884,317 Hino Motors Ltd. (Machinery) 94,400 820,046 Hoya Corp. (Health Care Equipment & Supplies) 13,400 1,881,655 Ibiden Co. Ltd. (Electronic Equipment, Instruments & Components) 27,300 1,435,860 Isuzu Motors Ltd. (Automobiles) 110,900 1,465,795 KDDI Corp. (Wireless Telecommunication Services) 37,526 1,139,753 Keyence Corp. (Electronic Equipment, Instruments & Components) 2,300 1,273,433 MINEBEA MITSUMI, Inc. (Machinery) 26,600 711,645 Mitsubishi UFJ Financial Group, Inc. (Banks) 335,700 1,770,224 Mitsui Fudosan Co. Ltd. (Real Estate Management & Development) 37,400 870,184 Musashi Seimitsu Industry Co. Ltd. (Auto Components) 23,100 476,718 Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) 26,800 684,627 Nippon Thompson Co. Ltd. (Machinery) 75,600 454,131 Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) 57,800 1,309,529 ORIX Corp. (Diversified ) 44,300 772,085 Resona Holdings, Inc. (Banks) 218,500 818,790 Seino Holdings Co. Ltd. (Road & Rail) 13,500 170,927 Seven & Holdings Co. Ltd. (Food & Staples Retailing) 32,200 1,428,828 Shin-Etsu Chemical Co. Ltd. (Chemicals) 6,900 1,116,403 Shinko Electric Industries Co. Ltd. (Semiconductors & Semiconductor Equipment) 36,700 1,237,774 Shinsei Bank Ltd. (Banks) 79,200 1,046,085 SMC Corp. (Machinery) 1,700 1,004,148 SoftBank Corp. (Wireless Telecommunication Services) 67,800 883,461 Group Corp. (Household Durables) 19,177 1,988,409 SUMCO Corp. (Semiconductors & Semiconductor Equipment) 32,700 750,247 T&D Holdings, Inc. (Insurance) 59,900 763,322 Taiyo Yuden Co. Ltd. (Electronic Equipment, Instruments & Components) 22,800 1,161,770 THK Co. Ltd. (Machinery) 17,600 498,938 Tokio Marine Holdings, Inc. (Insurance) 19,600 930,824 Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) 6,000 2,456,770 Tokyo Ohka Kogyo Co. Ltd. (Chemicals) 9,200 592,899 Yamaha Motor Co. Ltd. (Automobiles) 62,000 1,539,474 Yamato Holdings Co. Ltd. (Air Freight & Logistics) 8,000 229,707 44,911,076

Jersey, C.I. 0.1% plc (Capital Markets) 24,951 292,715

Luxembourg 0.3% Arrival SA (Automobiles) (b)(c) 58,727 755,816 Shares Value Common Stocks Macao 0.1% Sands China Ltd. (Hotels, Restaurants & Leisure) 75,600 $ 258,286

Netherlands 6.4% Adyen NV (IT Services) (a)(b) 305 828,356 Akzo Nobel NV (Chemicals) 4,276 528,037 Argenx SE (Biotechnology) (b) 1,241 378,781 ASML Holding NV (Semiconductors & Semiconductor Equipment) 7,267 5,508,486 IMCD NV (Trading Companies & Distributors) 5,361 928,485 Koninklijke KPN NV (Diversified Telecommunication Services) 241,137 791,783 Koninklijke Philips NV (Health Care Equipment & Supplies) 19,836 915,099 plc Class A (Oil, Gas & Consumable Fuels) 75,958 1,523,754 Class B (Oil, Gas & Consumable Fuels) 134,860 2,661,492 Wolters Kluwer NV (Professional Services) 7,157 815,718 14,879,991

Norway 0.1% Norsk Hydro ASA (Metals & Mining) 17,786 118,335

Philippines 0.4% BDO Unibank, Inc. (Banks) 417,970 852,915

Republic of Korea 0.8% Koh Young Technology, Inc. (Semiconductors & Semiconductor Equipment) 16,195 344,245 LG Chem Ltd. (Chemicals) 864 632,461 Shinhan Financial Group Co. Ltd. (Banks) 8,017 272,867 Shinhan Financial Group Co. Ltd. ADR (Banks) (c) 15,925 536,832 1,786,405

Russia 2.3% Coca-Cola HBC AG (Beverages) 71,125 2,688,105 LUKOIL PJSC, Sponsored ADR (Oil, Gas & Consumable Fuels) 12,771 1,096,901 Mobile TeleSystems PJSC, Sponsored ADR (Wireless Telecommunication Services) 48,016 412,458 Sberbank of Russia PJSC (Banks) 285,735 1,196,596 5,394,060

Singapore 0.5% Best World International Ltd. (Personal Products) (c)(d)(e)(f) 618,500 349,203 United Overseas Bank Ltd. (Banks) 36,700 711,817 1,061,020

South Africa 1.2% (Metals & Mining) 31,310 1,388,535 FirstRand Ltd. (Diversified Financial Services) 228,694 848,515 Old Mutual Ltd. (Insurance) 597,600 526,985 2,764,035 Shares Value Common Stocks Spain 1.8% Bankinter SA (Banks) 66,146 $ 361,491 Cellnex Telecom SA (Diversified Telecommunication Services) 32,147 2,095,103 Grifols SA (Biotechnology) 20,502 521,432 SA (Electric Utilities) 100,007 1,205,314 4,183,340

Sweden 2.0% Alfa Laval AB (Machinery) 15,605 651,507 Assa Abloy AB, Class B (Building Products) 29,127 934,200 Fastighets AB Balder, Class B (Real Estate Management & Development) (b) 10,842 749,131 Sandvik AB (Machinery) 28,415 740,380 Svenska AB, Class A (Banks) 54,450 614,179 Volvo AB, Class B (Machinery) 38,272 901,404 4,590,801

Switzerland 1.7% Alcon, Inc. (Health Care Equipment & Supplies) 13,765 1,002,914 Cie Financiere Richemont SA (Registered) (Textiles, Apparel & Luxury Goods) 9,568 1,225,245 Novartis AG (Registered) (Pharmaceuticals) 11,533 1,067,934 Tecan Group AG (Registered) (Life Sciences Tools & Services) 938 541,044 3,837,137

Taiwan 4.6% Formosa Sumco Technology Corp. (Semiconductors & Semiconductor Equipment) 193,000 1,297,479 Globalwafers Co. Ltd. (Semiconductors & Semiconductor Equipment) 73,000 2,211,014 MediaTek, Inc. (Semiconductors & Semiconductor Equipment) 40,000 1,301,627 Sino-American Silicon Products, Inc. (Semiconductors & Semiconductor Equipment) 172,000 1,162,453 Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Semiconductors & Semiconductor Equipment) 39,645 4,624,193 10,596,766

Thailand 0.5% Kasikornbank PCL NVDR (Banks) (c) 379,020 1,187,771 PTT Global Chemical PCL (Chemicals) 45,700 78,907 1,266,678

United Arab Emirates 0.2% Holdings plc (IT Services) (a)(b) 78,886 373,692

United Kingdom 10.4% Abcam plc (Biotechnology) 32,471 612,929 AJ Bell plc (Capital Markets) 48,512 283,618 Allfunds Group plc (Capital Markets) (b) 19,107 336,177 AstraZeneca plc (Pharmaceuticals) 24,565 2,823,137 BAE Systems plc (Aerospace & Defense) 27,357 219,031 Beazley plc (Insurance) 130,704 712,907 Bridgepoint Group Ltd. (Capital Markets) (a)(b) 55,500 374,153 Coca-Cola Europacific Partners plc (Beverages) 46,844 2,907,139 plc (Hotels, Restaurants & Leisure) 72,941 1,542,111 ConvaTec Group plc (Health Care Equipment & Supplies) (a) 104,534 344,221 Shares Value Common Stocks plc (Chemicals) 6,782 $ 793,752 plc (Beverages) 86,020 4,269,168 easyJet plc (Airlines) 15,809 185,948 plc (Professional Services) 17,290 761,369 HSBC Holdings plc (Banks) 249,245 1,376,968 Hyve Group plc (Media) 140,612 257,018 Intermediate Capital Group plc (Capital Markets) 53,051 1,600,177 Ltd. (Insurance) 44,324 393,382 (Insurance) 59,317 1,118,443 Rolls-Royce Holdings plc (Aerospace & Defense) 83,818 116,169 Smith & Nephew plc (Health Care Equipment & Supplies) 35,581 723,070 plc (Banks) 261,363 1,569,433 plc (Hotels, Restaurants & Leisure) (a)(b) 36,180 170,182 WPP plc (Media) 48,738 630,036 24,120,538

United States 1.2% Ardagh Group SA (Containers & Packaging) 5,100 119,085 Atlassian Corp. plc, Class A (Software) (b) 3,258 1,059,241 Schneider Electric SE (Electrical Equipment) 9,086 1,522,969 2,701,295 Total Common Stocks (Cost $206,435,094) 219,760,019

Preferred Stocks 2.6% Germany 1.0% Volkswagen AG (Automobiles) 2.91% 9,637 2,349,253

Republic of Korea 1.6% Samsung Electronics Co. Ltd. (Registered), GDR (Technology Hardware, Storage & Peripherals) 0.000%(a) 2,332 3,654,362 Total Preferred Stocks (Cost $5,397,504) 6,003,615

Exchange-Traded Fund 0.8% United States 0.8% iShares MSCI ACWI ex US ETF (c) 30,216 1,709,017 Total Exchange-Traded Fund (Cost $1,691,375) 1,709,017

Short-Term Investments 0.3% Affiliated Investment Company 0.3% United States 0.3% MainStay U.S. Government Liquidity Fund, 0.01% (g) 630,201 630,201 Shares Value Short-Term Investments Unaffiliated Investment Company 0.0% ‡ United States 0.0% ‡ Government Money Market Fund, 0.025% (g)(h) 109,067 $ 109,067 Total Short-Term Investments (Cost $739,268) 739,268 Total Investments, Before Investments Sold Short (Cost $214,263,241) 98.9% 228,211,919 Investments Sold Short (0.0)% ‡ Common Stock Sold Short (0.0)% ‡ Australia (0.0)% ‡ Virgin Australia Airlines Holdings Pty. Ltd. (Airlines) (b)(d)(e)(f) (444,108) (33) Total Common Stock Sold Short (Proceeds $0) (33)

Number of Rights Value Right Sold Short (0.0)% ‡ United States (0.0)% ‡ Intercell (Biotechnology) Expires 12/31/49 (b)(d)(e)(f) (19,159) (2) Total Right Sold Short (Proceeds $0) (2)

Number of Warrants Warrant Sold Short (0.0)% ‡ Singapore (0.0)% ‡ Ezion Holdings Ltd. (Energy Equipment & Services) Expires 4/16/23 (b)(d)(e)(f) (2,005,620) — Total Warrant Sold Short (Proceeds $0) — Total Investments Sold Short (Proceeds $0) (35)

Total Investments, Net of Investments Sold Short (Cost $214,263,241) 98.9% 228,211,884 Other Assets, Less Liabilities 1.1 2,652,945 Net Assets 100.0% $ 230,864,829

† Percentages indicated are based Fund net assets. ‡ Less than one-tenth of a percent. (a) May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. (b) Non-income producing security. (c) All or a portion of this security was held on loan. As of July 31, 2021, the aggregate market value of securities on loan was $1,413,773; the total market value of collateral held by the Fund was $1,909,517. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,800,450. The Fund received cash collateral with a value of $109,067. (d) Fair valued security—Represents fair value as measured in good faith under procedures approved by the Board of Trustees. As of July 31, 2021, the total market value was $349,168, which represented 0.2% of the Fund’s net assets. (e) Illiquid security—As of July 31, 2021, the total market value deemed illiquid under procedures approved by the Board of Trustees was $349,168, which represented 0.2% of the Fund’s net assets. (f) Security in which significant unobservable inputs (Level 3) were used in determining fair value. (g) Current yield as of July 31, 2021. (h) Represents a security purchased with cash collateral received for securities on loan.

Foreign Currency Forward Contracts As of July 31, 2021, the Fund held the following foreign currency forward contracts1: Unrealized Settlement Appreciation Currency Purchased Currency Sold Counterparty Date (Depreciation) CAD 200,506 USD 160,848 State Street Bank & Trust 8/4/21 $ (135) Total Unrealized Depreciation $ (135)

1. Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. Abbreviation(s):

ADR—American Depositary Receipt

CAD—Canada Dollar

ETF—Exchange-Traded Fund

GDR—Global Depositary Receipt

MSCI—Morgan Stanley Capital International

NVDR—Non-Voting Depositary Receipt

PCL—Provision for Credit Losses

REIT—Real Estate Investment Trust USD—United States Dollar The following is a summary of the fair valuations according to the inputs used as of July 31, 2021, for valuing the Fund’s assets and liabilities:

Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Description (Level 1) (Level 2) (Level 3) Total Asset Valuation Inputs Investments in Securities (a) Common Stocks $ 219,410,816 $ — $ 349,203 $ 219,760,019 Preferred Stocks 6,003,615 — — 6,003,615 Exchange-Traded Fund 1,709,017 — — 1,709,017 Short-Term Investments Affiliated Investment Company 630,201 — — 630,201 Unaffiliated Investment Company 109,067 — — 109,067 Total Short-Term Investments 739,268 — — 739,268 Total Investments in Securities $ 227,862,716 $ — $ 349,203 $ 228,211,919

Liability Valuation Inputs Common Stock Sold Short $ — $ — $ (33) $ (33) Right Sold Short —— (2)(2) Warrant Sold Short —— — — Other Financial Instruments Foreign Currency Forward Contracts (b) — (135) — (135) Total Investments in Securities Sold Short and Other Financial Instruments $ — $ (135) $ (35) $ (170)

(a) For a complete listing of investments and their industries, see the Portfolio of Investments. (b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.