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 |
|---|---|---|---|---|---|
| Caitong International Asset Management Co., Ltd | 3 | $49 | 0.00% | 00.0% | Unchanged |
| Essential Partners LLC | 15 | $247 | 0.00% | +15 | New |
| Assetmark, Inc | 30 | $534 | 0.00% | +30 | New |
| CX Institutional | 100 | $2.00K | 0.00% | +100 | New |
| Avion Wealth | 300 | $4.00K | 0.00% | +300 | New |
| DV Trading LLC | 400 | $6.59K | 0.00% | +400 | New |
| Group One Trading, L.P. | 900 | $14.8K | 0.00% | 00.0% | Unchanged |
| Bartlett & Co. Wealth Management LLC | 900 | $15.3K | 0.00% | −900−50.0% | Reduced |
| The PNC Financial Services Group, Inc. | 990 | $16.3K | 0.00% | 00.0% | Unchanged |
| Allworth Financial LP | 1,000 | $16.5K | 0.00% | −1,606−61.6% | Reduced |
| Tower Research Capital LLC (TRC) | 1,330 | $21.9K | 0.00% | +981+281.1% | Added |
| GWM Advisors LLC | 2,000 | $33.0K | 0.00% | 00.0% | Unchanged |
| SHP Wealth Management | 2,387 | $39.3K | 0.00% | +2,387 | New |
| DV Equities, LLC | 2,500 | $41.2K | 0.01% | +2,500 | New |
| Rhumbline Advisers | 3,000 | $49.4K | 0.00% | +3,000 | New |
| AdvisorNet Financial, Inc | 3,150 | $51.9K | 0.00% | −500−13.7% | Reduced |
| Creative Financial Designs Inc | 3,555 | $58.6K | 0.00% | 00.0% | Unchanged |
| Sound Income Strategies, LLC | 4,007 | $66.3K | 0.00% | +4,007 | New |
| Federation des caisses Desjardins du Quebec | 4,531 | $74.7K | 0.00% | −490−9.8% | Reduced |
| Kestra Advisory Services, LLC | 4,882 | $80.5K | 0.00% | +4,882 | New |
| BNP Paribas Arbitrage, SA | 5,400 | $89.0K | 0.00% | +600+12.5% | Added |
| Pension & Wealth Management Advisors, Inc. | 5,460 | $90.0K | 0.03% | +4,015+277.9% | Added |
| Harbour Investments, Inc. | 5,618 | $92.6K | 0.00% | +5,618 | New |
| Wall Street Access Asset Management, LLC | 9,906 | $163.3K | 0.04% | +9,906 | New |
| Infrastructure Capital Advisors, LLC | 10,001 | $164.8K | 0.02% | +10,001 | New |
| Cura Wealth Advisors, LLC | 10,200 | $168.1K | 0.06% | +10,200 | New |
| Oxford Asset Management LLP | 10,403 | $171.4K | 0.06% | +10,403 | New |
| Grimes & Company, Inc. | 10,579 | $174.3K | 0.00% | +10,579 | New |
| DRW Securities, LLC | 10,709 | $176.5K | 0.01% | +10,709 | New |
| Osbon Capital Management LLC | 11,206 | $184.7K | 0.17% | +11,206 | New |
| Balyasny Asset Management LLC | 11,567 | $190.6K | 0.00% | −164,160−93.4% | Reduced |
| Van Hulzen Asset Management, LLC | 11,585 | $190.9K | 0.01% | +11,585 | New |
| Gilbert & Cook, Inc. | 12,131 | $199.9K | 0.03% | 00.0% | Unchanged |
| Sciencast Management LP | 12,336 | $203.3K | 0.03% | −2,400−16.3% | Reduced |
| Reicon Wealth Advisors, LLC | 12,969 | $213.7K | 0.16% | +12,969 | New |
| Cowa, LLC | 13,436 | $221.4K | 0.07% | 00.0% | Unchanged |
| Sapient Capital LLC | 12,987 | $227.0K | 0.00% | 00.0% | Unchanged |
| Clear Harbor Asset Management, LLC | 13,910 | $229.2K | 0.02% | +13,910 | New |
| AQR Capital Management LLC | 14,026 | $231.1K | 0.00% | 00.0% | Unchanged |
| Mercer Global Advisors Inc | 14,902 | $245.6K | 0.00% | +363+2.5% | Added |
| TrueMark Investments, LLC | 15,000 | $247.2K | 0.05% | −9,976−39.9% | Reduced |
| Icon Wealth Advisors, LLC | 16,893 | $278.4K | 0.02% | +471+2.9% | Added |
| Fountainhead AM, LLC | 17,220 | $283.8K | 0.42% | −41,844−70.8% | Reduced |
| Guggenheim Capital LLC | 17,321 | $285.4K | 0.00% | +2,780+19.1% | Added |
| Nomura Holdings Inc | 17,387 | $286.5K | 0.00% | +17,387 | New |
| Sanctuary Advisors, LLC | 18,524 | $305.3K | 0.00% | −2,243−10.8% | Reduced |
| Everpar Advisors LLC | 18,547 | $305.7K | 0.11% | −6,583−26.2% | Reduced |
| National Bank of Canada | 19,245 | $317.0K | 0.00% | +2,445+14.6% | Added |
| Almitas Capital LLC | 20,000 | $329.6K | 0.07% | +20,000 | New |
| Jaffetilchin Investment Partners, LLC | 20,192 | $332.8K | 0.02% | +20,192 | New |
| Generali Investments CEE, investicni spolecnost, a.s. | 20,722 | $341.5K | 0.02% | 00.0% | Unchanged |
| Global Strategic Investment Solutions, LLC | 21,294 | $350.9K | 0.03% | +2,934+16.0% | Added |
| Oppenheimer & Co Inc | 22,843 | $376.5K | 0.01% | −237−1.0% | Reduced |
| Centiva Capital, LP | 22,910 | $377.6K | 0.02% | −128,048−84.8% | Reduced |
| Clearstead Advisors, LLC | 24,000 | $395.5K | 0.00% | +614+2.6% | Added |
| Fiduciary Group LLC | 24,029 | $396.0K | 0.03% | −326−1.3% | Reduced |
| Virtus Investment Advisers, Inc. | 26,281 | $433.1K | 0.12% | −4,021−13.3% | Reduced |
| Envestnet Asset Management Inc | 27,629 | $455.3K | 0.00% | +8,922+47.7% | Added |
| Invesco Ltd. | 27,915 | $460.0K | 0.00% | −40,454−59.2% | Reduced |
| Northern Trust Corp | 27,957 | $460.7K | 0.00% | +305+1.1% | Added |
| Entropy Technologies, LP | 29,206 | $481.3K | 0.03% | +29,206 | New |
| Squarepoint Ops LLC | 29,796 | $491.0K | 0.00% | −103−0.3% | Reduced |
| Virtu Financial LLC | 31,736 | $523.0K | 0.02% | +31,736 | New |
| Advisor Group Holdings, Inc. | 32,807 | $540.7K | 0.00% | −3,036−8.5% | Reduced |
| Commonwealth Equity Services, LLC | 34,116 | $562.2K | 0.00% | −8,662−20.2% | Reduced |
| Colony Group, LLC | 34,118 | $564.7K | 0.00% | +34,118 | New |
| Pathstone Holdings, LLC | 35,052 | $580.2K | 0.00% | +5,194+17.4% | Added |
| Cetera Investment Advisers | 40,076 | $660.5K | 0.00% | +9,136+29.5% | Added |
| Ameriprise Financial Inc | 40,517 | $667.7K | 0.00% | −2,936−6.8% | Reduced |
| Truist Financial Corp | 42,642 | $702.7K | 0.00% | −9,431−18.1% | Reduced |
| Royal Bank of Canada | 47,152 | $777.0K | 0.00% | −27,709−37.0% | Reduced |
| Beacon Pointe Advisors, LLC | 47,189 | $777.7K | 0.01% | +23,689+100.8% | Added |
| Quadrature Capital Ltd | 48,867 | $805.3K | 0.01% | −1,832−3.6% | Reduced |
| Captrust Financial Advisors | 49,345 | $813.2K | 0.00% | 00.0% | Unchanged |
| MAI Capital Management | 50,216 | $827.6K | 0.00% | +50,216 | New |
| Bank of America Corp | 50,710 | $835.7K | 0.00% | −33,820−40.0% | Reduced |
| Quest Partners LLC | 54,024 | $890.3K | 0.05% | +13,919+34.7% | Added |
| Denali Advisors LLC | 57,793 | $952.4K | 0.11% | −14,175−19.7% | Reduced |
| Lido Advisors, LLC | 63,614 | $1.05M | 0.00% | +44,136+226.6% | Added |
| Steward Partners Investment Advisory, LLC | 68,404 | $1.13M | 0.01% | +36,285+113.0% | Added |
| Marex Group plc | 71,050 | $1.17M | 0.01% | +21,449+43.2% | Added |
| Confluence Investment Management LLC | 72,156 | $1.19M | 0.02% | +1,308+1.8% | Added |
| LPL Financial LLC | 74,641 | $1.23M | 0.00% | −46,059−38.2% | Reduced |
| Legacy Capital Wealth Partners, LLC | 76,982 | $1.27M | 0.27% | +6,155+8.7% | Added |
| Aquatic Capital Management LLC | 77,324 | $1.27M | 0.04% | +50,242+185.5% | Added |
| XTX Topco Ltd | 81,599 | $1.34M | 0.04% | +81,599 | New |
| Susquehanna International Group, LLP | 88,467 | $1.46M | 0.00% | +42,064+90.6% | Added |
| Stifel Financial Corp | 93,742 | $1.54M | 0.00% | −45,683−32.8% | Reduced |
| Ares Management LLC | 100,000 | $1.65M | 0.09% | +100,000 | New |
| Rockefeller Capital Management L.P. | 104,768 | $1.73M | 0.00% | +6,911+7.1% | Added |
| Quantbot Technologies LP | 108,536 | $1.79M | 0.06% | +95,810+752.9% | Added |
| Adams Asset Advisors, LLC | 111,397 | $1.84M | 0.24% | +1,764+1.6% | Added |
| Naviter Wealth, LLC | 122,478 | $2.08M | 0.27% | −38,851−24.1% | Reduced |
| BI Asset Management Fondsmaeglerselskab A/S | 129,751 | $2.14M | 0.02% | +75,866+140.8% | Added |
| Schonfeld Strategic Advisors LLC | 130,312 | $2.15M | 0.01% | +130,312 | New |
| Shikiar Asset Management Inc | 130,500 | $2.15M | 0.54% | +9,600+7.9% | Added |
| Renaissance Technologies LLC | 133,500 | $2.20M | 0.00% | −389,288−74.5% | Reduced |
| GraniteShares Advisors LLC | 159,184 | $2.62M | 1.59% | +159,184 | New |
| Goldman Sachs Group Inc | 160,515 | $2.65M | 0.00% | +2,649+1.7% | Added |
| Neuberger Berman Group LLC | 166,108 | $2.74M | 0.00% | −19,098−10.3% | Reduced |