Confluence Investment Management’s Morgan Stanley Direct Lending Fund MSDL Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2025 Q2	$1.63M	Buy	86,943 +60,022	+223%	+$1.12M	0.02%	179
2025 Q1	$537K	Buy	26,921 +779	+3%	+$15.5K	0.01%	251
2024 Q4	$540K	Buy	26,142 +365	+1%	+$7.54K	0.01%	246
2024 Q3	$510K	Buy	+25,777	New	+$510K	0.01%	257