MSDL Morgan Stanley Direct Lending Fund
Morgan Stanley Direct Lending Fund (MSDL) Institutional Ownership
What the institutions did with MSDL last quarter, from their 13F filings. Counting managers rather than shares is the point: a single index fund adding to a position tells you far less than four hundred separate managers all deciding to. Positions as reported for the quarter ended June 30, 2026.
Every manager below opens. Subscribers can see any firm's whole portfolio — every position, its weight, and what they bought, trimmed and exited last quarter.
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Each block is one manager, sized by shares held and colored by how much they moved the position last quarter. Green added, red cut, grey stood pat.
Largest holders
| Manager | Shares | % of reported |
|---|---|---|
| MORGAN STANLEY | 15.7M | 40.8% |
| UBS Group AG | 2.6M | 6.7% |
| VAN ECK ASSOCIATES CORP | 2.0M | 5.2% |
| Generali Asset Management SPA SGR | 1.8M | 4.7% |
| Lunate Capital Ltd | 1.1M | 2.9% |
| Russell Investments Group, Ltd. | 1.1M | 2.8% |
| TWO SIGMA INVESTMENTS, LP | 893.2K | 2.3% |
| Muzinich & Co., Inc. | 838.9K | 2.2% |
| ARES MANAGEMENT LLC | 775.1K | 2.0% |
| Ensign Peak Advisors, Inc | 748.0K | 1.9% |
| Altshuler Shaham Ltd | 650.4K | 1.7% |
| AMERICAN FINANCIAL GROUP INC | 631.5K | 1.6% |
| Sumitomo Mitsui Trust Group, Inc. | 616.1K | 1.6% |
| BROWN BROTHERS HARRIMAN & CO | 539.7K | 1.4% |
| WELLS FARGO & COMPANY/MN | 516.0K | 1.3% |
| DG Capital Management, LLC | 475.5K | 1.2% |
| FRANKLIN RESOURCES INC | 456.5K | 1.2% |
| CAZ INVESTMENTS LP | 399.5K | 1.0% |
| TT Capital Management LLC | 343.3K | 0.9% |
| Hennion & Walsh Asset Management, Inc. | 315.8K | 0.8% |
| Trexquant Investment LP | 296.1K | 0.8% |
| Americana Partners, LLC | 262.6K | 0.7% |
| Fosun International Ltd | 240.4K | 0.6% |
| HighTower Advisors, LLC | 238.4K | 0.6% |
| Liberty Mutual Group Asset Management Inc. | 204.8K | 0.5% |
Largest changes
| Manager | Action | Previous | Current | Change |
|---|---|---|---|---|
| Lunate Capital Ltd | New | 0 | 1.1M | +1.1M |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | Sold Out | 1.1M | 0 | -1.1M |
| UBS Group AG | Increased | 1.6M | 2.6M | +984.5K |
| Ensign Peak Advisors, Inc | New | 0 | 748.0K | +748.0K |
| TORONTO DOMINION BANK | Sold Out | 622.2K | 0 | -622.2K |
| VAN ECK ASSOCIATES CORP | Increased | 1.4M | 2.0M | +580.1K |
| BROWN BROTHERS HARRIMAN & CO | New | 0 | 539.7K | +539.7K |
| CAZ INVESTMENTS LP | New | 0 | 399.5K | +399.5K |
| ARES MANAGEMENT LLC | Increased | 412.0K | 775.1K | +363.1K |
| Russell Investments Group, Ltd. | Increased | 721.9K | 1.1M | +339.9K |
| FRANKLIN RESOURCES INC | Increased | 186.8K | 456.5K | +269.7K |
| XTX Topco Ltd | Reduced | 191.9K | 28.2K | -163.7K |
| ExodusPoint Capital Management, LP | Sold Out | 160.3K | 0 | -160.3K |
| Point72 Asset Management, L.P. | Sold Out | 154.4K | 0 | -154.4K |
| JANE STREET GROUP, LLC | Sold Out | 151.5K | 0 | -151.5K |
| MORGAN STANLEY | Reduced | 15.9M | 15.7M | -151.1K |
| Activest Wealth Management | Reduced | 204.7K | 88.9K | -115.8K |
| Trexquant Investment LP | Reduced | 409.3K | 296.1K | -113.2K |
| BI Asset Management Fondsmaeglerselskab A/S | Reduced | 133.7K | 25.8K | -107.9K |
| RENAISSANCE TECHNOLOGIES LLC | Sold Out | 101.4K | 0 | -101.4K |
| DG Capital Management, LLC | Reduced | 575.5K | 475.5K | -100.0K |
| Callodine Capital Management, LP | New | 0 | 100.0K | +100.0K |
| Focus Partners Wealth | Increased | 48.8K | 141.1K | +92.3K |
| LM Advisors LLC | Increased | 1.1K | 84.1K | +83.1K |
| Ilex Capital Partners (UK) LLP | New | 0 | 82.9K | +82.9K |
| MILLENNIUM MANAGEMENT LLC | Reduced | 276.0K | 204.5K | -71.5K |
| Muzinich & Co., Inc. | Increased | 767.8K | 838.9K | +71.1K |
| VICTORY CAPITAL MANAGEMENT INC | New | 0 | 69.3K | +69.3K |
| Sumitomo Mitsui Trust Group, Inc. | Increased | 558.1K | 616.1K | +58.0K |
| Balyasny Asset Management L.P. | Reduced | 116.8K | 59.4K | -57.3K |
| Aquatic Capital Management LLC | Sold Out | 55.8K | 0 | -55.8K |
| ROYAL BANK OF CANADA | Increased | 57.1K | 107.9K | +50.9K |
| SFMG, LLC | Reduced | 208.7K | 159.7K | -49.0K |
| HRT FINANCIAL LP | New | 0 | 41.3K | +41.3K |
| SCOTIA CAPITAL INC. | New | 0 | 40.0K | +40.0K |
| RAYMOND JAMES FINANCIAL INC | Increased | 106.4K | 145.7K | +39.3K |
| AMERIPRISE FINANCIAL INC | Sold Out | 37.0K | 0 | -37.0K |
| Dynamic Technology Lab Private Ltd | Sold Out | 36.6K | 0 | -36.6K |
| Naviter Wealth, LLC | Increased | 140.6K | 176.5K | +35.9K |
| Adams Asset Advisors, LLC | Increased | 114.4K | 148.7K | +34.3K |
| Lido Advisors, LLC | Reduced | 59.4K | 25.9K | -33.5K |
| Beacon Pointe Advisors, LLC | Sold Out | 32.5K | 0 | -32.5K |
| Invesco Ltd. | Reduced | 65.9K | 35.1K | -30.8K |
| Belpointe Asset Management LLC | New | 0 | 29.3K | +29.3K |
| Hennion & Walsh Asset Management, Inc. | Increased | 287.4K | 315.8K | +28.4K |
| GOLDMAN SACHS GROUP INC | Reduced | 88.8K | 60.6K | -28.2K |
| Engineers Gate Manager LP | Increased | 18.9K | 46.3K | +27.4K |
| PENSION & WEALTH MANAGEMENT ADVISORS, INC. | Increased | 69.2K | 96.3K | +27.1K |
| O'ROURKE & COMPANY, Inc | New | 0 | 27.1K | +27.1K |
| HighTower Advisors, LLC | Reduced | 265.3K | 238.4K | -26.8K |
| WELLS FARGO & COMPANY/MN | Reduced | 542.8K | 516.0K | -26.8K |
| Steward Partners Investment Advisory, LLC | Reduced | 75.0K | 48.3K | -26.7K |
| Cambridge Investment Research Advisors, Inc. | Increased | 15.4K | 42.1K | +26.6K |
| TrueMark Investments, LLC | Sold Out | 26.0K | 0 | -26.0K |
| Marex Group plc | Sold Out | 25.0K | 0 | -25.0K |
| Legacy Capital Wealth Partners, LLC | Increased | 86.0K | 110.9K | +24.8K |
| GraniteShares Advisors LLC | Increased | 142.8K | 164.4K | +21.5K |
| LPL Financial LLC | Increased | 71.0K | 92.1K | +21.1K |
| STATE STREET CORP | Increased | 105.5K | 124.3K | +18.8K |
| Quantbot Technologies LP | Reduced | 22.4K | 6.5K | -15.9K |
13F filings are due 45 days after quarter end and cover long positions in U.S.-listed equities only, so this is a lagged and partial picture: shorts, bonds and foreign listings never appear. Options positions are excluded here rather than folded into the share counts. Political ownership is coming.