MORGAN STANLEY

Ticker: MS CUSIP: 617446448 Class: COM

Palisades Investment Partners, LLC's Holding History (CIK: 0001427373)

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

Q2 2014

Shares 25,400 Value ($000) $821,182,000 Avg Close $22.71 Range $20.81 - $24.20

Q1 2014

Shares 42,800 Value ($000) $1,334,076 Avg Close $22.70 Range $21.15 - $24.60

Q4 2013

Shares 42,800 Value ($000) $1,351 Avg Close $21.80 Range $19.35 - $23.37

Q3 2013

Shares 56,200 Value ($000) $1,515 Avg Close $19.65 Range $17.42 - $21.61

Q2 2013

Shares 56,200 Value ($000) $1,373 Avg Close $17.33 Range $14.71 - $19.87

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	25,400	$821,182,000	$22.71	$20.81 - $24.20
Q1 2014	42,800	$1,334,076	$22.70	$21.15 - $24.60
Q4 2013	42,800	$1,351	$21.80	$19.35 - $23.37
Q3 2013	56,200	$1,515	$19.65	$17.42 - $21.61
Q2 2013	56,200	$1,373	$17.33	$14.71 - $19.87