MORGAN STANLEY DIRECT LENDIN

Ticker: MSDL CUSIP: 61774A103 Class: COM SHS

Cliffwater LLC's Holding History (CIK: 0001659851)

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

Q1 2025

Shares 242,195 Value ($000) $4,834 Avg Close $18.51 Range $17.78 - $19.46

Q4 2024

Shares 1,446,014 Value ($000) $29,875 Avg Close $17.85 Range $16.94 - $18.98

Q3 2024

Shares 2,124,028 Value ($000) $42,013 Avg Close $17.54 Range $16.26 - $19.97

Q2 2024

Shares 2,182,590 Value ($000) $47,690 Avg Close $18.39 Range $17.07 - $19.96

Q1 2024

Shares 2,182,590 Value ($000) $47,035 Avg Close $16.70 Range $15.38 - $18.62

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2025	242,195	$4,834	$18.51	$17.78 - $19.46
Q4 2024	1,446,014	$29,875	$17.85	$16.94 - $18.98
Q3 2024	2,124,028	$42,013	$17.54	$16.26 - $19.97
Q2 2024	2,182,590	$47,690	$18.39	$17.07 - $19.96
Q1 2024	2,182,590	$47,035	$16.70	$15.38 - $18.62