MORGAN STANLEY PATHWAY FDS

Ticker: MSSM CUSIP: 61769L841 Class: SMALL MID CAP EQ

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

Aventura Private Wealth, LLC
Value ($000) $17 Shares 336
JONES FINANCIAL COMPANIES LLLP
Value ($000) $17 Shares 344
TRUST CO OF VERMONT
Value ($000) $6 Shares 112
Reyes Financial Architecture, Inc.
Value ($000) $1 Shares 17
US BANCORP \DE\
Value ($000) $1 Shares 14

Increased Positions (3)

SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $2,104 (+176.9%) Shares 41,582 (+178.2%)
CITADEL ADVISORS LLC
Value ($000) $1,012 (+153.0%) Shares 19,998 (+154.2%)
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
Value ($000) $43 (+798.9%) Shares 849 (+803.2%)

Decreased Positions (4)

MORGAN STANLEY
Value ($000) $483,839 (-2.9%) Shares 9,562,042 (-2.4%)
COMERICA BANK
Value ($000) $726 (-7.5%) Shares 14,348 (-7.1%)
UBS Group AG
Value ($000) $23 (-32.7%) Shares 450 (-32.4%)
WELLS FARGO & COMPANY/MN
Value ($000) $4 (-56.1%) Shares 79 (-55.9%)

Exited Positions (6)

JANE STREET GROUP, LLC
Value ($000) $571 Shares 11,242
ROYAL BANK OF CANADA
Value ($000) $15 Shares 300
Global Retirement Partners, LLC
Value ($000) $3 Shares 65
Wealthspire Advisors, LLC
Value ($000) $3 Shares 58
Geneos Wealth Management Inc.
Value ($000) $2 Shares 32
Raleigh Capital Management Inc.
Value ($000) $0 Shares 6