Who Owns Morgan Stanley Direct Lending Fund (MSDL)?Hedge Fund & Institutional Holders

$14.61+0.07 (+0.45%)Financial ServicesNYSE

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$InfinityT

% of Float Held

2.149974593845081e+280%

QoQ Change in Holders

+12 / -3

Price History

$14.53$16.30$18.07$19.84$21.61Aug 24Jun 25Mar 26

MSDL — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
Generali Asset Management SPA SGRNew Position+1.8M+$30.2B
Muzinich & Co., Inc.New Position+766K+$12.6B
UBS Group AGIncreased+704K+$12.0B
Altshuler Shaham LtdNew Position+650K+$10.0B
Sumitomo Mitsui Trust Group, Inc.New Position+558K+$9.2B
AMERICAN FINANCIAL GROUP INCNew Position+532K+$8.8B
TWO SIGMA INVESTMENTS, LPIncreased+503K+$7.5B
Liberty Mutual Group Asset Management Inc.New Position+360K+$5.9B
Truffle Hound Capital, LLCNew Position+320K+$5.3B
Hennion & Walsh Asset Management, Inc.New Position+259K+$4.3B
Fosun International LtdNew Position+222K+$3.7B
Activest Wealth ManagementNew Position+196K+$3.2B
Russell Investments Group, Ltd.New Position+242K+$3.0B
CULLEN/FROST BANKERS, INC.New Position+184K+$3.0B
TWO SIGMA ADVISERS, LPIncreased+158K+$2.5B

MSDL — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
MARSHALL WACE, LLPClosed Position-543K-$8.7B
RENAISSANCE TECHNOLOGIES LLCDecreased-389K-$6.4B
RIVERNORTH CAPITAL MANAGEMENT, LLCDecreased-225K-$3.3B
BALYASNY ASSET MANAGEMENT L.P.Decreased-164K-$2.8B
Centiva Capital, LPDecreased-128K-$2.1B
LPL Financial LLCDecreased-46K-$1.9B
MILLENNIUM MANAGEMENT LLCDecreased-83K-$1.7B
RAYMOND JAMES FINANCIAL INCDecreased-38K-$1.4B
STIFEL FINANCIAL CORPDecreased-46K-$1.2B
ROYAL BANK OF CANADADecreased-28K-$1.2B
Neuberger Berman Group LLCDecreased-19K-$978.1M
Cubist Systematic Strategies, LLCClosed Position-55K-$884.0M
Quadrature Capital LtdDecreased-2K-$814.7M
Zuckerman Investment Group, LLCClosed Position-46K-$739.7M
AMERIPRISE FINANCIAL INCDecreased-3K-$698.7M

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1Generali Asset Management SPA SGR1,829,964$30.2B0.62%Share
2UBS Group AG1,408,944$23.2B3.77%Share
3TWO SIGMA INVESTMENTS, LP844,770$13.0B18.34%Share
4Muzinich & Co., Inc.766,451$12.6B3.97%Share
5RIVERNORTH CAPITAL MANAGEMENT, LLC764,543$12.6B0.60%Share
6TORONTO DOMINION BANK713,641$11.0B16.24%Share
7Altshuler Shaham Ltd650,437$10.0B152.00%Share
8Sumitomo Mitsui Trust Group, Inc.558,113$9.2B5.40%Share
9AMERICAN FINANCIAL GROUP INC531,500$8.8B3.18%Share
10FRANKLIN RESOURCES INC371,094$6.0B1.47%Share
11Liberty Mutual Group Asset Management Inc.359,773$5.9B0.56%Share
12Truffle Hound Capital, LLC320,000$5.3B1.37%Share
13WELLS FARGO & COMPANY/MN348,050$5.0B0.91%Share
14TT Capital Management LLC302,946$5.0B3.98%Share
15Hennion & Walsh Asset Management, Inc.258,929$4.3B0.15%Share
16TWO SIGMA ADVISERS, LP249,400$4.0B7.78%Share
17MILLENNIUM MANAGEMENT LLC268,646$4.0B1.68%Share
18SFMG, LLC238,045$3.9B0.26%Share
19Fosun International Ltd221,872$3.7B0.85%Share
20UBS Group AG215,521$3.6B0.58%Share
21Activest Wealth Management195,621$3.2B0.60%Share
22CULLEN/FROST BANKERS, INC.184,080$3.0B33.00%Share
23CITADEL ADVISORS LLC229,107$3.0B0.45%Share
24Russell Investments Group, Ltd.242,417$3.0B3.27%Share
25Naviter Wealth, LLC122,478$2.1B0.27%Share
26GraniteShares Advisors LLC159,184$2.0B1.22%Share
27GOLDMAN SACHS GROUP INC160,515$2.0B0.25%Share
28JPMORGAN CHASE & CO142,659$2.0B0.13%Share
29Neuberger Berman Group LLC166,108$2.0B1.49%Share
30Point72 Asset Management, L.P.178,897$2.0B2.24%Share
31RAYMOND JAMES FINANCIAL INC155,197$2.0B0.62%Share
32RENAISSANCE TECHNOLOGIES LLC133,500$2.0B3.10%Share
33ARES MANAGEMENT LLC100,000$1.6B0.09%Share
34HBK INVESTMENTS L P77,400$1.3B10.02%Put
35Legacy Capital Wealth Partners, LLC76,982$1.3B0.27%Share
36XTX Topco Ltd81,599$1.0B0.03%Share
37Quantbot Technologies LP108,536$1.0B0.03%Share
38SUSQUEHANNA INTERNATIONAL GROUP, LLP77,300$1.0B0.12%Put
39Steward Partners Investment Advisory, LLC68,404$1.0B5.48%Share
40Aquatic Capital Management LLC77,324$1.0B0.03%Share
41CITADEL ADVISORS LLC78,100$1.0B0.15%Call
42Rockefeller Capital Management L.P.104,768$1.0B1.80%Share
43STIFEL FINANCIAL CORP91,116$1.0B0.90%Share
44Marex Group plc71,050$1.0B6.29%Share
45CONFLUENCE INVESTMENT MANAGEMENT LLC48,658$801.0M12.00%Share
46UBS Group AG33,800$557.0M0.09%Share
47Invesco Ltd.27,915$460.0M0.07%Share
48Virtus Investment Advisers, LLC26,281$433.0M0.12%Share
49Fiduciary Group, LLC24,029$395.0M0.03%Share
50CONFLUENCE INVESTMENT MANAGEMENT LLC23,498$387.0M5.80%Share

MSDL Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025127$226.6B+38
Q3 202589$136.1B-4
Q2 202593$212.9B+0
Q1 202593$449.6B+17
Q4 202476$3.8T+34
Q3 202442$1.9T+27
Q2 202415$6.7B-1
Q1 202416$8.4B—

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As of Q4 2025, 50 institutional investors hold MSDL (Morgan Stanley Direct Lending Fund). The largest holder is Generali Asset Management SPA SGR with $30.2B in shares. This quarter, 12 institutions opened new positions and 3 closed their positions.

Frequently Asked Questions

How many hedge funds own MSDL?

As of Q4 2025, 50 institutional investors report holding MSDL (Morgan Stanley Direct Lending Fund) in their 13F filings.

Who is the largest institutional holder of MSDL?

The largest institutional holder of MSDL is Generali Asset Management SPA SGR with $30.2B in shares.

Is institutional ownership of MSDL increasing or decreasing?

This quarter, 12 institutions opened new positions in MSDL and 3 closed their positions.