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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.

Institutional holdersQ4 2025: 134 institutions
Q1 2021: 0 institutionsQ2 2021: 0 institutionsQ3 2021: 0 institutionsQ4 2021: 0 institutionsQ1 2022: 0 institutionsQ2 2022: 0 institutionsQ3 2022: 0 institutionsQ4 2022: 0 institutionsQ1 2023: 0 institutionsQ2 2023: 0 institutionsQ3 2023: 0 institutionsQ4 2023: 0 institutionsQ1 2024: 20 institutionsQ2 2024: 18 institutionsQ3 2024: 52 institutionsQ4 2024: 82 institutionsQ1 2025: 97 institutionsQ2 2025: 110 institutionsQ3 2025: 118 institutionsQ4 2025: 134 institutionsQ1 2026: 139 institutionsQ2 2026: 140 institutions
Value heldQ4 2025: $598.3M
Q1 2021: $0Q2 2021: $0Q3 2021: $0Q4 2021: $0Q1 2022: $0Q2 2022: $0Q3 2022: $0Q4 2022: $0Q1 2023: $0Q2 2023: $0Q3 2023: $0Q4 2023: $0Q1 2024: $302.5MQ2 2024: $308.3MQ3 2024: $333.7MQ4 2024: $430.8MQ1 2025: $513.5MQ2 2025: $520.6MQ3 2025: $504.7MQ4 2025: $598.3MQ1 2026: $499.2MQ2 2026: $583.0M
Institutions holding MSDL and their total value by quarter
QuarterHoldersValue
Q2 2026140$583.0M
Q1 2026139$499.2M
Q4 2025134$598.3M
Q3 2025118$504.7M
Q2 2025110$520.6M
Q1 202597$513.5M
Q4 202482$430.8M
Q3 202452$333.7M
Q2 202418$308.3M
Q1 202420$302.5M
Q4 20230$0
Q3 20230$0
Q2 20230$0
Q1 20230$0
Q4 20220$0
Q3 20220$0
Q2 20220$0
Q1 20220$0
Q4 20210$0
Q3 20210$0
Q2 20210$0
Q1 20210$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.

Institutions holding MSDL in Q4 2025
InstitutionSharesValue% of portfolioChange in sharesAction
Gilbert & Cook, Inc.12,131$199.9K0.03%00.0%Unchanged
Van Hulzen Asset Management, LLC11,585$190.9K0.01%+11,585New
Balyasny Asset Management LLC11,567$190.6K0.00%−164,160−93.4%Reduced
Osbon Capital Management LLC11,206$184.7K0.17%+11,206New
DRW Securities, LLC10,709$176.5K0.01%+10,709New
Grimes & Company, Inc.10,579$174.3K0.00%+10,579New
Oxford Asset Management LLP10,403$171.4K0.06%+10,403New
Cura Wealth Advisors, LLC10,200$168.1K0.06%+10,200New
Infrastructure Capital Advisors, LLC10,001$164.8K0.02%+10,001New
Wall Street Access Asset Management, LLC9,906$163.3K0.04%+9,906New
Harbour Investments, Inc.5,618$92.6K0.00%+5,618New
Pension & Wealth Management Advisors, Inc.5,460$90.0K0.03%+4,015+277.9%Added
BNP Paribas Arbitrage, SA5,400$89.0K0.00%+600+12.5%Added
Kestra Advisory Services, LLC4,882$80.5K0.00%+4,882New
Federation des caisses Desjardins du Quebec4,531$74.7K0.00%−490−9.8%Reduced
Sound Income Strategies, LLC4,007$66.3K0.00%+4,007New
Creative Financial Designs Inc3,555$58.6K0.00%00.0%Unchanged
AdvisorNet Financial, Inc3,150$51.9K0.00%−500−13.7%Reduced
Rhumbline Advisers3,000$49.4K0.00%+3,000New
DV Equities, LLC2,500$41.2K0.01%+2,500New
SHP Wealth Management2,387$39.3K0.00%+2,387New
GWM Advisors LLC2,000$33.0K0.00%00.0%Unchanged
Tower Research Capital LLC (TRC)1,330$21.9K0.00%+981+281.1%Added
Allworth Financial LP1,000$16.5K0.00%−1,606−61.6%Reduced
The PNC Financial Services Group, Inc.990$16.3K0.00%00.0%Unchanged
Bartlett & Co. Wealth Management LLC900$15.3K0.00%−900−50.0%Reduced
Group One Trading, L.P.900$14.8K0.00%00.0%Unchanged
DV Trading LLC400$6.59K0.00%+400New
Avion Wealth300$4.00K0.00%+300New
CX Institutional100$2.00K0.00%+100New
Assetmark, Inc30$5340.00%+30New
Essential Partners LLC15$2470.00%+15New
Caitong International Asset Management Co., Ltd3$490.00%00.0%Unchanged
LM Advisors LLC1,268––−54,516−97.7%Reduced
Marshall Wace, LLP0$00.00%−543,182−100.0%Sold out
Zuckerman Investment Group, LLC0$00.00%−46,000−100.0%Sold out
Dynamic Technology Lab Private Ltd0$00.00%−32,323−100.0%Sold out
Obermeyer Wood Investment Counsel, LLLP0$00.00%−26,000−100.0%Sold out
Eagle Global Advisors LLC0$00.00%−25,800−100.0%Sold out
Kovitz Investment Group Partners, LLC0$00.00%−24,392−100.0%Sold out
Nordwand Advisors, LLC0$00.00%−24,336−100.0%Sold out
Brevan Howard Capital Management LP0$00.00%−24,309−100.0%Sold out
Opal Wealth Advisors, LLC0$00.00%−14,630−100.0%Sold out
Gsa Capital Partners LLP0$00.00%−14,116−100.0%Sold out
MQS Management LLC0$00.00%−14,096−100.0%Sold out
Samalin Investment Counsel, LLC0$00.00%−10,977−100.0%Sold out
Elevate Capital Advisors, LLC0$00.00%−10,773−100.0%Sold out
Simplex Trading, LLC0$00.00%−9,634−100.0%Sold out
Keystone Financial Group0$00.00%−4,480−100.0%Sold out
US Bancorp0$00.00%−3,707−100.0%Sold out
State of Wyoming0$00.00%−3,543−100.0%Sold out
Ameritas Advisory Services, LLC0$00.00%−3,388−100.0%Sold out
Comerica Bank0$00.00%−1,137−100.0%Sold out
Wealthspire Advisors, LLC0$00.00%−500−100.0%Sold out
Barclays PLC0$00.00%−222−100.0%Sold out
Advisory Services Network, LLC0$00.00%−142−100.0%Sold out
Cubist Systematic Strategies, LLC––––Not filed
Promus Capital, LLC––––Not filed
Point72 Europe (London) LLP––––Not filed
Point72 (DIFC) Ltd––––Not filed