Morgan Stanley Direct Lending Fund
MSDL- Exchange
- NYSE
- SEC CIK
- 0001782524
No open-market purchases or sales by Morgan Stanley Direct Lending Fund insiders were filed in the last 90 days; 140 institutions reported holding it in 13F filings for Q2 2026, worth $583.0M in total; no superinvestor holds it.
13F holders, Q4 2025
Institutional positions in Morgan Stanley Direct Lending Fund as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 134
- +20 vs. Q3 2025
- Shares held
- 36.3M
- +5.00M (+16.0%) vs. Q3 2025
- Total value
- $598.3M
- +$94.8M (+18.8%) vs. Q3 2025
- New holders
- 42
- 43 more added
- Sold out
- 22
- 37 more reduced
4 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting MSDL on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 140 | $583.0M |
| Q1 2026 | 139 | $499.2M |
| Q4 2025 | 134 | $598.3M |
| Q3 2025 | 118 | $504.7M |
| Q2 2025 | 110 | $520.6M |
| Q1 2025 | 97 | $513.5M |
| Q4 2024 | 82 | $430.8M |
| Q3 2024 | 52 | $333.7M |
| Q2 2024 | 18 | $308.3M |
| Q1 2024 | 20 | $302.5M |
| Q4 2023 | 0 | $0 |
| Q3 2023 | 0 | $0 |
| Q2 2023 | 0 | $0 |
| Q1 2023 | 0 | $0 |
| Q4 2022 | 0 | $0 |
| Q3 2022 | 0 | $0 |
| Q2 2022 | 0 | $0 |
| Q1 2022 | 0 | $0 |
| Q4 2021 | 0 | $0 |
| Q3 2021 | 0 | $0 |
| Q2 2021 | 0 | $0 |
| Q1 2021 | 0 | $0 |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding Morgan Stanley Direct Lending Fund; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Morgan Stanley | 15,876,336 | $261.6M | 0.02% | −26,807−0.2% | Reduced |
| Van Eck Associates Corp | 1,840,835 | $30.3M | 0.03% | −126,862−6.4% | Reduced |
| Generali Asset Management SPA SGR | 1,829,964 | $30.2M | 0.62% | 00.0% | Unchanged |
| UBS Group AG | 1,668,693 | $27.5M | 0.01% | +704,394+73.0% | Added |
| Two Sigma Investments, LP | 844,770 | $13.9M | 0.02% | +503,458+147.5% | Added |
| Muzinich & Co., Inc. | 766,451 | $12.6M | 3.97% | +181,830+31.1% | Added |
| Rivernorth Capital Management, LLC | 764,543 | $12.6M | 0.60% | −224,584−22.7% | Reduced |
| Toronto Dominion Bank | 713,641 | $11.8M | 0.02% | +148,020+26.2% | Added |
| Altshuler Shaham Ltd | 650,437 | $10.7M | 0.16% | +650,437 | New |
| Sumitomo Mitsui Trust Holdings, Inc. | 558,113 | $9.20M | 0.01% | +53,051+10.5% | Added |
| Americana Partners, LLC | 551,776 | $9.09M | 0.25% | +12,793+2.4% | Added |
| American Financial Group Inc | 531,500 | $8.76M | 3.18% | +531,500 | New |
| Trexquant Investment LP | 448,097 | $7.38M | 0.07% | +211,345+89.3% | Added |
| Jane Street Group, LLC | 423,165 | $6.97M | 0.01% | +327,940+344.4% | Added |
| Wells Fargo & Company | 408,416 | $6.73M | 0.00% | +51,780+14.5% | Added |
| HRT Financial LP | 394,241 | $6.50M | 0.02% | +394,241 | New |
| Franklin Resources Inc | 371,094 | $6.12M | 0.00% | −3,667−1.0% | Reduced |
| Liberty Mutual Group Asset Management Inc. | 359,773 | $5.93M | 0.56% | +359,773 | New |
| Truffle Hound Capital, LLC | 320,000 | $5.27M | 3.09% | +320,000 | New |
| TT Capital Management LLC | 302,946 | $4.99M | 3.98% | +5,387+1.8% | Added |
| Closed-End Fund Advisors, Inc. | 291,456 | $4.80M | 2.84% | +291,456 | New |
| Millennium Management LLC | 268,646 | $4.43M | 0.00% | −82,825−23.6% | Reduced |
| Hennion & Walsh Asset Management, Inc. | 258,929 | $4.27M | 0.15% | +60,391+30.4% | Added |
| Two Sigma Advisers, LP | 249,400 | $4.11M | 0.01% | +157,600+171.7% | Added |
| Russell Investments Group, Ltd. | 242,417 | $4.00M | 0.00% | +242,417 | New |
| SFMG, LLC | 238,045 | $3.92M | 0.26% | −21,300−8.2% | Reduced |
| Citadel Advisors LLC | 230,300 | $3.80M | 0.00% | +159,391+224.8% | Added |
| Fosun International Ltd | 221,872 | $3.66M | 0.85% | +221,872 | New |
| Activest Wealth Management | 195,621 | $3.22M | 0.60% | +70,334+56.1% | Added |
| Cullen/Frost Bankers, Inc. | 184,080 | $3.03M | 0.03% | +184,080 | New |
| Point72 Asset Management, L.P. | 178,897 | $2.95M | 0.00% | +178,897 | New |
| JPMorgan Chase & Co | 178,273 | $2.94M | 0.00% | +155,599+686.2% | Added |
| Raymond James Financial Inc | 175,306 | $2.89M | 0.00% | −38,313−17.9% | Reduced |
| Neuberger Berman Group LLC | 166,108 | $2.74M | 0.00% | −19,098−10.3% | Reduced |
| Goldman Sachs Group Inc | 160,515 | $2.65M | 0.00% | +2,649+1.7% | Added |
| GraniteShares Advisors LLC | 159,184 | $2.62M | 1.59% | +159,184 | New |
| Renaissance Technologies LLC | 133,500 | $2.20M | 0.00% | −389,288−74.5% | Reduced |
| Shikiar Asset Management Inc | 130,500 | $2.15M | 0.54% | +9,600+7.9% | Added |
| Schonfeld Strategic Advisors LLC | 130,312 | $2.15M | 0.01% | +130,312 | New |
| BI Asset Management Fondsmaeglerselskab A/S | 129,751 | $2.14M | 0.02% | +75,866+140.8% | Added |
| Naviter Wealth, LLC | 122,478 | $2.08M | 0.27% | −38,851−24.1% | Reduced |
| Adams Asset Advisors, LLC | 111,397 | $1.84M | 0.24% | +1,764+1.6% | Added |
| Quantbot Technologies LP | 108,536 | $1.79M | 0.06% | +95,810+752.9% | Added |
| Rockefeller Capital Management L.P. | 104,768 | $1.73M | 0.00% | +6,911+7.1% | Added |
| Ares Management LLC | 100,000 | $1.65M | 0.09% | +100,000 | New |
| Stifel Financial Corp | 93,742 | $1.54M | 0.00% | −45,683−32.8% | Reduced |
| Susquehanna International Group, LLP | 88,467 | $1.46M | 0.00% | +42,064+90.6% | Added |
| XTX Topco Ltd | 81,599 | $1.34M | 0.04% | +81,599 | New |
| Aquatic Capital Management LLC | 77,324 | $1.27M | 0.04% | +50,242+185.5% | Added |
| Legacy Capital Wealth Partners, LLC | 76,982 | $1.27M | 0.27% | +6,155+8.7% | Added |
| LPL Financial LLC | 74,641 | $1.23M | 0.00% | −46,059−38.2% | Reduced |
| Confluence Investment Management LLC | 72,156 | $1.19M | 0.02% | +1,308+1.8% | Added |
| Marex Group plc | 71,050 | $1.17M | 0.01% | +21,449+43.2% | Added |
| Steward Partners Investment Advisory, LLC | 68,404 | $1.13M | 0.01% | +36,285+113.0% | Added |
| Lido Advisors, LLC | 63,614 | $1.05M | 0.00% | +44,136+226.6% | Added |
| Denali Advisors LLC | 57,793 | $952.4K | 0.11% | −14,175−19.7% | Reduced |
| Quest Partners LLC | 54,024 | $890.3K | 0.05% | +13,919+34.7% | Added |
| Bank of America Corp | 50,710 | $835.7K | 0.00% | −33,820−40.0% | Reduced |
| MAI Capital Management | 50,216 | $827.6K | 0.00% | +50,216 | New |
| Captrust Financial Advisors | 49,345 | $813.2K | 0.00% | 00.0% | Unchanged |
| Quadrature Capital Ltd | 48,867 | $805.3K | 0.01% | −1,832−3.6% | Reduced |
| Beacon Pointe Advisors, LLC | 47,189 | $777.7K | 0.01% | +23,689+100.8% | Added |
| Royal Bank of Canada | 47,152 | $777.0K | 0.00% | −27,709−37.0% | Reduced |
| Truist Financial Corp | 42,642 | $702.7K | 0.00% | −9,431−18.1% | Reduced |
| Ameriprise Financial Inc | 40,517 | $667.7K | 0.00% | −2,936−6.8% | Reduced |
| Cetera Investment Advisers | 40,076 | $660.5K | 0.00% | +9,136+29.5% | Added |
| Pathstone Holdings, LLC | 35,052 | $580.2K | 0.00% | +5,194+17.4% | Added |
| Colony Group, LLC | 34,118 | $564.7K | 0.00% | +34,118 | New |
| Commonwealth Equity Services, LLC | 34,116 | $562.2K | 0.00% | −8,662−20.2% | Reduced |
| Advisor Group Holdings, Inc. | 32,807 | $540.7K | 0.00% | −3,036−8.5% | Reduced |
| Virtu Financial LLC | 31,736 | $523.0K | 0.02% | +31,736 | New |
| Squarepoint Ops LLC | 29,796 | $491.0K | 0.00% | −103−0.3% | Reduced |
| Entropy Technologies, LP | 29,206 | $481.3K | 0.03% | +29,206 | New |
| Northern Trust Corp | 27,957 | $460.7K | 0.00% | +305+1.1% | Added |
| Invesco Ltd. | 27,915 | $460.0K | 0.00% | −40,454−59.2% | Reduced |
| Envestnet Asset Management Inc | 27,629 | $455.3K | 0.00% | +8,922+47.7% | Added |
| Virtus Investment Advisers, Inc. | 26,281 | $433.1K | 0.12% | −4,021−13.3% | Reduced |
| Fiduciary Group LLC | 24,029 | $396.0K | 0.03% | −326−1.3% | Reduced |
| Clearstead Advisors, LLC | 24,000 | $395.5K | 0.00% | +614+2.6% | Added |
| Centiva Capital, LP | 22,910 | $377.6K | 0.02% | −128,048−84.8% | Reduced |
| Oppenheimer & Co Inc | 22,843 | $376.5K | 0.01% | −237−1.0% | Reduced |
| Global Strategic Investment Solutions, LLC | 21,294 | $350.9K | 0.03% | +2,934+16.0% | Added |
| Generali Investments CEE, investicni spolecnost, a.s. | 20,722 | $341.5K | 0.02% | 00.0% | Unchanged |
| Jaffetilchin Investment Partners, LLC | 20,192 | $332.8K | 0.02% | +20,192 | New |
| Almitas Capital LLC | 20,000 | $329.6K | 0.07% | +20,000 | New |
| National Bank of Canada | 19,245 | $317.0K | 0.00% | +2,445+14.6% | Added |
| Everpar Advisors LLC | 18,547 | $305.7K | 0.11% | −6,583−26.2% | Reduced |
| Sanctuary Advisors, LLC | 18,524 | $305.3K | 0.00% | −2,243−10.8% | Reduced |
| Nomura Holdings Inc | 17,387 | $286.5K | 0.00% | +17,387 | New |
| Guggenheim Capital LLC | 17,321 | $285.4K | 0.00% | +2,780+19.1% | Added |
| Fountainhead AM, LLC | 17,220 | $283.8K | 0.42% | −41,844−70.8% | Reduced |
| Icon Wealth Advisors, LLC | 16,893 | $278.4K | 0.02% | +471+2.9% | Added |
| TrueMark Investments, LLC | 15,000 | $247.2K | 0.05% | −9,976−39.9% | Reduced |
| Mercer Global Advisors Inc | 14,902 | $245.6K | 0.00% | +363+2.5% | Added |
| AQR Capital Management LLC | 14,026 | $231.1K | 0.00% | 00.0% | Unchanged |
| Clear Harbor Asset Management, LLC | 13,910 | $229.2K | 0.02% | +13,910 | New |
| Sapient Capital LLC | 12,987 | $227.0K | 0.00% | 00.0% | Unchanged |
| Cowa, LLC | 13,436 | $221.4K | 0.07% | 00.0% | Unchanged |
| Reicon Wealth Advisors, LLC | 12,969 | $213.7K | 0.16% | +12,969 | New |
| Sciencast Management LP | 12,336 | $203.3K | 0.03% | −2,400−16.3% | Reduced |