MORGAN STANLEY

Ticker: MS CUSIP: 617446448 Class: COM

Cheviot Value Management, LLC's Holding History (CIK: 0001427147)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 4,325 Value ($000) $789 Avg Close $166.47 Range $150.92 - $182.34

Q3 2025

Shares 4,225 Value ($000) $698 Avg Close $146.45 Range $133.51 - $162.99

Q2 2025

Shares 4,075 Value ($000) $583 Avg Close $120.96 Range $92.37 - $140.07

Q1 2025

Shares 3,375 Value ($000) $404 Avg Close $125.91 Range $106.95 - $139.08

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	4,325	$789	$166.47	$150.92 - $182.34
Q3 2025	4,225	$698	$146.45	$133.51 - $162.99
Q2 2025	4,075	$583	$120.96	$92.37 - $140.07
Q1 2025	3,375	$404	$125.91	$106.95 - $139.08