MORGAN STANLEY DIRECT LENDIN

Ticker: MSDL CUSIP: 61774A103 Class: COM SHS

TWO SIGMA ADVISERS, LP's Holding History (CIK: 0001478735)

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

Q4 2025

Shares 249,400 Value ($000) $4,110 Avg Close $16.42 Range $15.24 - $17.38

Q3 2025

Shares 91,800 Value ($000) $1,476 Avg Close $17.18 Range $15.53 - $18.77

Q2 2025

Shares 38,100 Value ($000) $713 Avg Close $17.74 Range $16.13 - $18.75

Q1 2025

Shares 111,700 Value ($000) $2,230 Avg Close $18.51 Range $17.78 - $19.46

Q4 2024

Shares 23,900 Value ($000) $494 Avg Close $17.85 Range $16.94 - $18.98

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	249,400	$4,110	$16.42	$15.24 - $17.38
Q3 2025	91,800	$1,476	$17.18	$15.53 - $18.77
Q2 2025	38,100	$713	$17.74	$16.13 - $18.75
Q1 2025	111,700	$2,230	$18.51	$17.78 - $19.46
Q4 2024	23,900	$494	$17.85	$16.94 - $18.98