Morgan Stanley (KIO) joint Schedule 13G: 5.6% ownership disclosed

Rhea-AI Filing Summary

KKR Income Opportunities Fund reports a Schedule 13G disclosure showing Morgan Stanley entities beneficially hold common shares representing 5.6% of the class as of 03/31/2026. The filing lists shared voting and dispositive powers: Morgan Stanley reports shared voting power 10,937 and shared dispositive power 2,295,568; Morgan Stanley Smith Barney LLC reports shared voting power 17 and shared dispositive power 2,284,648. The filing is a joint statement by the MS reporting units and includes a joint filing agreement and subsidiary identification exhibit.

Insights

Corporate Governance Specialist

Joint Schedule 13G shows passive institutional holdings and shared control metrics.

The filing identifies Morgan Stanley and Morgan Stanley Smith Barney LLC as joint filers reporting combined beneficial ownership equal to 5.6% of common shares as of 03/31/2026. It specifies shared voting and dispositive powers by reporting unit and attaches an exhibit for subsidiary identification.

The disclosure is consistent with passive or institutional investor reporting practices; subsequent disclosures would appear if ownership or intent changes.

Equity Ownership Analyst

Filing quantifies holdings by reporting units and clarifies aggregation under the MS Reporting Units.

The document lists numeric positions: shared dispositive power entries of 2,295,568 and 2,284,648, and voting power entries of 10,937 and 17. The cover notes aggregation rules per the referenced release.

Investors seeking changes to ownership stakes should watch future filings for amendments that alter the 5.6% figure or indicate active investment intent.

Key Figures

Reporting date: 03/31/2026 Percent of class: 5.6% Shared dispositive power (MS unit): 2,295,568 shares +3 more

6 metrics

Reporting date 03/31/2026 Ownership reported as of this date

Percent of class 5.6% Beneficial ownership reported by filers

Shared dispositive power (MS unit) 2,295,568 shares Morgan Stanley reporting unit dispositive power

Shared dispositive power (MS Smith Barney) 2,284,648 shares Morgan Stanley Smith Barney LLC dispositive power

Shared voting power (MS unit) 10,937 votes Morgan Stanley reporting unit voting power

CUSIP 48249T106 KKR Income Opportunities Fund common shares

Key Terms

Schedule 13G, beneficially owned, shared dispositive power, MS Reporting Units

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: KKR Income Opportunities Fund"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Ownership (a) Amount beneficially owned: See the response(s) to Item 9"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power financial

"Shared Dispositive Power 2,295,568.00"

MS Reporting Units organizational

"this filing reflects the securities beneficially owned by certain operating units (the "MS Reporting Units")"

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Accepted by SEC EDGAR 05/12/2026 - 11:38 AM Learn about SEC filing dates

FAQ

What stake does Morgan Stanley report in KKR Income Opportunities Fund (KIO)?

Morgan Stanley reports beneficial ownership equal to 5.6% of KIO common shares as of 03/31/2026. The filing lists shared dispositive power of 2,295,568 shares for one MS reporting unit.

Which Morgan Stanley entities filed the Schedule 13G for KIO?

The Schedule 13G is a joint filing by Morgan Stanley and Morgan Stanley Smith Barney LLC. Both entities are listed with addresses at 1585 Broadway, New York, NY and Delaware citizenship.

Do the filings show sole voting or dispositive power for these holdings?

No sole powers are reported. The cover shows 0 for sole voting and sole dispositive power, with specified shared voting and shared dispositive power amounts instead.

What exhibits accompany the Schedule 13G for KIO?

The filing includes Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 subsidiary identification information). The exhibits identify reporting-unit aggregation per the cited release.

What date is the ownership level reported as of in this filing?

The beneficial ownership level is reported as of 03/31/2026, as shown on the cover information and within the ownership statements in the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

KKR Income Opportunities Fund

(Name of Issuer)

Common Shares

(Title of Class of Securities)

48249T106

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 48249T106

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,937.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,295,568.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,295,568.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): 48249T106

1

Names of Reporting Persons

Morgan Stanley Smith Barney LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 17.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,284,648.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,284,648.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: KKR Income Opportunities Fund
(b)	Address of issuer's principal executive offices: 555 CALIFORNIA STREET, 50TH FLOOR, SAN FRANCISCO, CA, 94104
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Smith Barney LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP Number(s): 48249T106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/12/2026

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	05/12/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).