MORGAN STANLEY DIRECT LENDIN

Ticker: MSDL CUSIP: 61774A103 Class: COM SHS

OBSIDIAN CIO, LLC's Holding History (CIK: 0001843581)

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

Q4 2025

Shares 17,220 Value ($000) $284 Avg Close $16.42 Range $15.24 - $17.38

Q3 2025

Shares 59,064 Value ($000) $950 Avg Close $17.18 Range $15.53 - $18.77

Q2 2025

Shares 59,231 Value ($000) $1,109 Avg Close $17.74 Range $16.13 - $18.75

Q1 2025

Shares 59,025 Value ($000) $1,178 Avg Close $18.51 Range $17.78 - $19.46

Q4 2024

Shares 26,760 Value ($000) $553 Avg Close $17.85 Range $16.94 - $18.98

Q3 2024

Shares 26,031 Value ($000) $515 Avg Close $17.54 Range $16.26 - $19.97

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	17,220	$284	$16.42	$15.24 - $17.38
Q3 2025	59,064	$950	$17.18	$15.53 - $18.77
Q2 2025	59,231	$1,109	$17.74	$16.13 - $18.75
Q1 2025	59,025	$1,178	$18.51	$17.78 - $19.46
Q4 2024	26,760	$553	$17.85	$16.94 - $18.98
Q3 2024	26,031	$515	$17.54	$16.26 - $19.97