MORGAN STANLEY PATHWAY FDS

Ticker: MSLC CUSIP: 61769L858 Class: LARGE CAP EQTY

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (8)

Aventura Private Wealth, LLC
Value ($000) $69 Shares 1,277
B. Riley Wealth Advisors, Inc.
Value ($000) $246 Shares 4,520
STIFEL FINANCIAL CORP
Value ($000) $942 Shares 17,316
Empower Advisory Group, LLC
Value ($000) $293 Shares 5,388
JONES FINANCIAL COMPANIES LLLP
Value ($000) $86 Shares 1,588
TRUST CO OF VERMONT
Value ($000) $28 Shares 507
Reyes Financial Architecture, Inc.
Value ($000) $5 Shares 83
US BANCORP \DE\
Value ($000) $4 Shares 72

Increased Positions (8)

MORGAN STANLEY
Value ($000) $2,510,514 (+3.0%) Shares 46,157,645 (+3.0%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $2,415 (+95.2%) Shares 44,394 (+95.1%)
RAYMOND JAMES FINANCIAL INC
Value ($000) $680 (+54.2%) Shares 12,510 (+54.1%)
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
Value ($000) $432 (+57.0%) Shares 7,938 (+57.0%)
LPL Financial LLC
Value ($000) $957 (+15.5%) Shares 17,593 (+15.5%)
COMERICA BANK
Value ($000) $3,545 (+1.1%) Shares 65,176 (+1.1%)
HB Wealth Management, LLC
Value ($000) $216 (+6.1%) Shares 3,973 (+6.1%)
OSAIC HOLDINGS, INC.
Value ($000) $28 (+16.1%) Shares 515 (+15.7%)

Decreased Positions (2)

WELLS FARGO & COMPANY/MN
Value ($000) $19 (-52.4%) Shares 353 (-52.4%)
UBS Group AG
Value ($000) $7 (-27.8%) Shares 130 (-27.8%)

Exited Positions (7)

Arkadios Wealth Advisors
Value ($000) $240 Shares 4,417
JANE STREET GROUP, LLC
Value ($000) $1,163 Shares 21,393
Rockefeller Capital Management L.P.
Value ($000) $312 Shares 5,741
ROYAL BANK OF CANADA
Value ($000) $54 Shares 1,000
Wealthspire Advisors, LLC
Value ($000) $21 Shares 393
Global Retirement Partners, LLC
Value ($000) $17 Shares 317
Raleigh Capital Management Inc.
Value ($000) $2 Shares 28