MORGAN STANLEY ETF TRUST

Ticker: PHEQ CUSIP: 61774R874 Class: PARAMETRIC HEDGE

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (6)

FIDUCIENT ADVISORS LLC

Value ($000) $7,946 Shares 243,980

Convergence Financial, LLC

Value ($000) $3,012 Shares 92,487

OLD MISSION CAPITAL LLC

Value ($000) $1,280 Shares 39,289

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $2,391 Shares 73,403

Farther Finance Advisors, LLC

Value ($000) $43 Shares 1,327

CoreCap Advisors, LLC

Value ($000) $7 Shares 224

Institution	Shares	Value ($000)
FIDUCIENT ADVISORS LLC	243,980	$7,946
Convergence Financial, LLC	92,487	$3,012
OLD MISSION CAPITAL LLC	39,289	$1,280
SUSQUEHANNA INTERNATIONAL GROUP, LLP	73,403	$2,391
Farther Finance Advisors, LLC	1,327	$43
CoreCap Advisors, LLC	224	$7

Increased Positions (3)

LPL Financial LLC

Value ($000) $6,233 (+108.9%) Shares 191,365 (+105.3%)

Value ($000) $93,460 (+6.9%) Shares 2,869,498 (+5.1%)

Integrated Wealth Concepts LLC

Value ($000) $1,915 (+3.2%) Shares 58,784 (+1.4%)

Institution	Prev Shares	Curr Shares	Change
LPL Financial LLC	93,211	191,365	+98,154 (+105.3%)
MORGAN STANLEY	2,730,165	2,869,498	+139,333 (+5.1%)
Integrated Wealth Concepts LLC	57,968	58,784	+816 (+1.4%)

Decreased Positions (1)

OSAIC HOLDINGS, INC.

Value ($000) $519 (-12.8%) Shares 15,935 (-14.5%)

Institution	Prev Shares	Curr Shares	Change
OSAIC HOLDINGS, INC.	18,639	15,935	-2,704 (-14.5%)

Exited Positions (1)

von Borstel & Associates, Inc.

Value ($000) $4 Shares 134,430

Institution	Prev Shares	Prev Value ($000)
von Borstel & Associates, Inc.	134,430	$4