Morgan Stanley Direct Lending Fund (MSDL)

Current
Market Price	$21.70 (+ $0.27)
NAV (Dec. 31, 2023)	$20.67 ( $0.00)
Fund Listed	NYSE
Premium / Discount	4.98% (+1.31%)

Fund Info
Inception	Nov. 25, 2019
Sponsor	MS Capital Partners Adviser
Website	https://www.msdl.com/
Phone
Location	New York
Incorporated	Delaware
Staggered Board	Yes
Term Date	N/A
Objective: attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing in senior secured term loans of U.S. middle-market companies.

Related Indexes
Debt-Focused Business Development Company (BDC) Index
60/40 Balanced (w/ BDCs) Index
Taxable Bond & BDC Index

Capital & Leverage
Outstanding Shares	88,897,708
Total Assets (Reported: Dec. 31, 2023)	$3,306M
Estimated Total Assets	$3,356M
Net Assets	$1,838M
Market Cap	$1,929M
Portfolio Turnover	11.98%
Debt-to-Equity	0.8692
Total Leverage	45.24%
Structural Leverage (out of total)	100.00%
Portfolio Leverage (out of total)	0.00%
Expense Ratio	11.62%
Non Lev Exp Ratio	4.27%
Gross Asset Expense Ratio	5.48%
Gross Asset Non Lev Exp Ratio	2.02%
Rel Lev Cost	7.65%

Discount Data
Average Discount (3 Yr)	1.21%
Discount Low(3 Yr)	-5.03%
Discount High(3 Yr)	9.00%
Discount Rel Range (3 Yr)	71.38%
Comp Discount	5.57
Discount St Dev (1Yr)	3.48

Z-Stat
Z-Stat (6mo)	1.09
Z-Stat (1Yr)	1.09
Z-Stat (3Yr)	1.09
Comp Z-Stat (6mo)	0.31
Comp Z-Stat (3Yr)	0.57

Distribution Data
Market Yield	0.00%
Income Yield	0.00%
Lev Adj NAV Yield	0.00%
Av Yield on Debt Investments	12.10
Distribution Frequency
Current Distribution	$
Current Income	$
Ex-Date
Payable Date
Div Growth (3yr)	%
Dividend Change	% on
Expected Div
RoC (1yr)	%
RoC (3yr)	%

Volume & Liquidity
Average Daily $ (K)	$2,986
Avg Volume 30 day	49,217
Avg Volume 90 day	137,622
Volume Trend	-64.24%
Comp Volume Trend	-45.84%

Correlation & Volatility
Price St Dev (1Yr)	27.7%
NAV St Dev (1Yr)	0.0%

Earnings
Earnings / Share (12/31/23)	$
Adj Core NII Coverage	%
1 Yr Avg NII Coverage	%
1 Yr Avg Adj Core NII Coverage	%
NII Trend	%
Adj Core NII Trend	%

Performance
Price Beta (2yr) vs. S&P 500 (TR)
Price Beta (2yr) vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr) vs. CEFA's Debt-Focused Business Development Company (BDC) Index

Portfolio Data
Avg Libor Floor %	0.88%
% Loans with Libor Floor	99%

Total Return (%) - Cash Dividends Periods greater than 1 Year are annualized.
	1 Week	1 Month	3 Month	6 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year
Price	1.07	1.69	7.00		0.70
Rank	9 / 46	26 / 46	16 / 46	/	29 / 46	/	/	/	/	/
Peer Group (Mk Pr)	-1.15	1.30	4.32	11.05	0.61	4.55	29.91	7.25	5.09	4.91
NAV	0.00	0.00	0.00		0.00
Rank	3 / 46	11 / 46	40 / 46	/	11 / 46	/	/	/	/	/
Peer Group (NAV)	1.80	1.03	2.49	4.25	1.03	2.62	9.81	7.47	4.75	4.86
Click on any value in "Peer Group" rows to see full peer group total returns

Total Return (%) - Reinvested Dividends Periods greater than 1 Year are annualized.
	1 Week	1 Month	3 Month	6 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year
Price	1.07	1.69	7.00		0.70
Rank	9 / 46	26 / 46	16 / 46	/	29 / 46	/	/	/	/	/
Peer Group (Mk Pr)	-1.15	1.30	4.35	11.23	0.61	4.59	31.06	8.51	7.38	7.66
NAV	0.00	0.00	0.00		0.00
Rank	3 / 46	11 / 46	40 / 46	/	11 / 46	/	/	/	/	/
Peer Group (NAV)	-1.15	1.03	2.49	4.42	1.03	2.63	10.21	8.31	6.05	6.91
Click on any value in "Peer Group" rows to see full peer group total returns

Market Price Total Return (%) - Dividends

	1 Week	1 Month	3 Month	6 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year
MFIC	0.53	2.42	14.08	18.49	1.46	14.33	49.55	10.89	7.77	3.40
MFIC	0.53	2.42	14.14	18.96	1.46	14.39	51.85	14.34	13.13	7.95
ARCC	-0.82	0.63	5.03	9.72	-1.01	5.29	27.65	11.16	10.59	8.19
ARCC	-0.82	0.63	5.01	9.82	-1.01	5.27	28.51	12.87	13.58	12.36
ICMB	0.62	0.62	-2.01	0.28	5.14	-3.93	12.07	-3.98	-0.86	-0.44
ICMB	0.62	0.62	-1.99	0.01	5.14	-3.92	11.73	-4.28	0.36	-0.12
LRFC	-0.18	-1.98	0.80	8.65	-1.07	-0.18	13.35	5.66	-11.06	-3.22
LRFC	-0.18	-1.98	0.80	8.64	-1.07	-0.19	13.59	5.76	-12.57	-7.25
FDUS	-2.11	1.68	6.61	10.12	1.22	4.77	26.24	17.16	12.77	7.83
FDUS	-2.11	1.68	6.71	10.44	1.22	4.87	27.70	19.69	17.44	13.16
OCSL	-2.67	-0.62	1.69	3.65	-1.83	-2.79	19.83	9.19	12.32	2.94
OCSL	-2.67	-0.62	1.64	3.46	-1.83	-2.84	19.94	10.25	14.63	6.29
FSK	-0.57	0.31	-2.35	4.59	0.79	0.00	25.68	9.64	5.30	2.22
FSK	-0.57	0.31	-2.29	4.63	0.79	0.06	26.48	11.63	9.09	4.90
GAIN	0.78	3.30	3.19	6.19	1.05	3.32	25.57	11.21	11.07	12.44
GAIN	0.78	3.31	3.23	6.50	1.06	3.35	27.23	13.03	13.93	17.22
GSBD	-0.70	4.14	6.44	13.03	4.01	9.42	30.58	2.81	3.55	-
GSBD	-0.70	4.14	6.46	13.20	4.01	9.44	32.05	3.95	5.18	-
GBDC	-0.69	4.03	16.48	23.00	3.91	17.48	44.87	11.02	5.51	6.44
GBDC	-0.69	4.03	16.63	23.66	3.91	17.64	47.52	13.61	8.22	9.19
GLAD	-0.09	8.85	4.01	12.21	0.63	3.22	25.08	6.84	9.53	7.27
GLAD	-0.09	8.84	4.06	12.38	0.62	3.29	26.15	8.00	11.89	11.01
HRZN	1.46	5.49	-7.58	5.90	4.84	-6.61	15.14	-0.67	8.99	6.46
HRZN	1.46	5.49	-7.47	5.79	4.84	-6.55	15.23	-0.35	10.34	9.68
HTGC	1.89	6.00	15.82	28.48	5.31	19.44	70.18	12.46	15.13	9.07
HTGC	1.89	6.00	16.02	29.58	5.31	19.64	74.58	16.13	19.81	14.31
PTMN	-1.18	0.89	4.93	21.12	1.79	10.01	15.60	4.62	0.61	-2.37
PTMN	-1.18	0.89	4.99	21.97	1.79	10.07	17.15	5.50	3.37	-1.02
MAIN	2.52	7.41	14.30	28.75	6.98	19.43	36.58	12.46	10.28	9.79
MAIN	2.52	7.44	14.54	29.55	7.01	19.78	39.03	14.69	13.03	13.47
PFX	-1.16	1.65	-1.44	18.29	0.59	4.99	22.37	8.61	-7.64	-5.87
PFX	-1.16	1.65	-1.44	18.29	0.59	4.99	22.37	8.63	-7.63	-10.34
MRCC	-1.09	0.28	2.04	11.37	0.56	5.94	20.12	-1.02	0.51	4.13
MRCC	-1.09	0.28	2.06	11.62	0.56	5.96	20.59	-0.96	1.78	5.43
NMFC	-0.16	0.08	2.19	5.79	0.24	2.67	24.61	9.20	6.38	6.30
NMFC	-0.16	0.08	2.20	5.85	0.24	2.68	25.19	10.58	9.01	9.63
OFS	0.32	-5.10	-13.09	0.49	-4.43	-15.98	18.08	12.37	3.76	6.07
OFS	0.32	-5.10	-13.17	-0.15	-4.43	-16.07	17.09	13.20	7.11	9.89
PFLT	-0.96	2.52	3.89	12.00	0.90	-2.56	21.58	5.91	5.17	5.31
PFLT	-0.96	2.52	3.91	12.10	0.90	-2.50	22.61	7.03	7.74	8.12
PNNT	-1.26	3.64	4.77	15.12	3.34	5.93	66.81	12.27	7.99	3.60
PNNT	-1.26	3.63	4.84	15.46	3.33	6.04	69.60	14.77	12.62	8.29
PSEC	-0.76	-3.29	-6.72	1.45	-4.17	-8.68	-2.46	-2.93	5.39	2.40
PSEC	-0.76	-3.29	-6.77	1.14	-4.17	-8.80	-3.11	-4.13	5.97	4.51
SAR	-1.13	2.97	5.61	0.72	1.59	-6.03	11.19	6.59	5.97	10.83
SAR	-1.13	2.97	5.69	0.63	1.59	-5.96	10.93	7.05	7.14	14.10
SCM	-0.05	8.05	10.94	11.36	8.05	13.10	11.19	11.61	7.42	7.32
SCM	-0.05	8.05	11.10	11.92	8.05	13.40	12.34	13.49	10.53	11.85
SLRC	-0.58	1.71	4.62	8.99	0.52	5.39	22.97	3.04	1.91	3.99
SLRC	-0.58	1.71	4.65	9.12	0.52	5.41	23.72	4.05	3.36	5.90
BBDC	1.61	2.38	9.94	7.53	1.83	13.40	43.84	6.08	6.26	-0.87
BBDC	1.61	2.38	9.92	7.80	1.83	13.37	45.65	7.51	8.09	0.33
TCPC	1.88	1.78	-6.60	-1.32	-1.44	-7.97	20.26	0.18	3.28	4.40
TCPC	1.88	1.78	-6.64	-1.82	-1.44	-8.01	19.58	0.24	4.90	6.43
OXSQ	-0.62	1.10	7.35	11.51	1.42	16.08	24.41	-2.76	-1.76	1.30
OXSQ	-0.62	1.08	7.42	12.03	1.40	16.25	27.21	-1.38	0.53	3.89
TPVG	-3.66	-1.39	-14.29	-3.10	-2.95	-11.60	10.09	-4.40	3.00	4.73
TPVG	-3.66	-1.39	-14.39	-3.71	-2.95	-11.71	8.74	-5.45	3.44	7.15
TSLX	-3.09	-0.33	0.47	6.87	-1.96	-0.23	30.21	7.31	10.13	8.48
TSLX	-3.09	-0.33	0.46	6.83	-1.96	-0.24	31.00	8.90	13.21	12.41
WHF	-0.85	4.32	4.98	12.44	3.15	7.11	25.99	4.35	7.03	7.50
WHF	-0.85	4.32	5.13	12.82	3.15	7.27	26.95	5.57	10.03	11.81
CSWC	1.08	5.10	10.24	26.99	4.85	13.08	63.94	11.17	11.88	12.66
CSWC	1.08	5.10	10.37	27.46	4.85	13.21	66.66	14.61	17.08	16.75
GECC	-1.64	-4.93	-2.67	14.81	-7.69	-0.75	44.93	-7.04	-12.33	-
GECC	-1.64	-4.93	-2.92	14.49	-7.69	-1.00	46.97	-6.40	-14.62	-
CGBD	0.53	5.53	16.88	25.00	5.53	18.05	43.25	17.47	11.02	-
CGBD	0.53	5.53	17.03	25.64	5.53	18.20	45.60	21.12	16.86	-
BCSF	0.85	5.59	12.16	11.55	5.93	13.21	64.09	9.84	3.57	-
BCSF	0.85	5.59	12.18	11.80	5.93	13.22	65.82	12.28	6.82	-
OBDC	0.56	4.71	11.36	20.80	4.16	11.59	44.41	11.94	-	-
OBDC	0.56	4.71	11.50	21.26	4.16	11.73	46.62	14.48	-	-
CCAP	0.81	1.80	9.89	12.53	1.33	3.57	46.64	8.55	-	-
CCAP	0.81	1.80	10.00	12.83	1.33	3.67	48.03	10.56	-	-
CION	1.22	4.23	6.33	20.97	5.27	5.39	44.47	-	-	-
CION	1.22	4.23	6.47	21.48	5.27	5.53	46.64	-	-	-
RWAY	1.96	6.63	1.12	8.89	7.51	6.97	39.40	-	-	-
RWAY	1.96	6.63	1.00	8.97	7.51	6.85	40.92	-	-	-
BXSL	0.44	4.74	16.03	20.05	3.47	19.39	40.45	-	-	-
BXSL	0.44	4.74	16.07	20.54	3.47	19.43	42.40	-	-	-
TRIN	-3.62	1.18	9.47	7.20	-0.34	4.20	41.85	11.81	-	-
TRIN	-3.62	1.18	9.52	7.36	-0.34	4.24	43.00	14.16	-	-
PIAC	-35.48	-35.48	-4.76	-13.04	-35.48	-13.04	-20.00	22.39	2.76	-
PIAC	-35.48	-35.48	-4.76	-13.04	-35.48	-13.04	-20.00	17.84	0.45	-
PSBD	0.24	2.62	4.82	-	1.10	-	-	-	-	-
PSBD	0.24	2.62	4.90	-	1.10	-	-	-	-	-
MSDL	1.07	1.69	7.00	-	0.70	-	-	-	-	-
MSDL	1.07	1.69	7.00	-	0.70	-	-	-	-	-
NCDL	0.34	-1.63	1.93	-	-2.88	-	-	-	-	-
NCDL	0.34	-1.63	1.94	-	-2.88	-	-	-	-	-
OBDE	-0.77	-0.06	10.16	-	0.85	-	-	-	-	-
OBDE	-0.77	-0.06	10.18	-	0.85	-	-	-	-	-

NAV Total Return (%) - Dividends

	1 Week	1 Month	3 Month	6 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year
MFIC	0.00	0.00	2.47	5.82	0.00	2.47	11.53	7.63	3.94	2.56
MFIC	0.00	0.00	2.47	5.91	0.00	2.47	12.01	8.69	5.42	4.34
ARCC	0.00	0.00	4.00	7.90	0.00	4.00	16.26	12.76	10.43	8.16
ARCC	0.00	0.00	4.00	8.03	0.00	4.00	17.04	14.41	12.97	11.78
ICMB	0.00	0.00	2.74	-0.86	0.00	2.74	-0.33	-2.68	-4.11	0.59
ICMB	0.00	0.00	2.74	-0.79	0.00	2.74	-0.35	-2.77	-4.51	-0.07
LRFC	0.00	0.00	0.96	-2.36	0.00	0.96	-0.55	-8.19	-10.44	-2.98
LRFC	0.00	0.00	0.96	-2.39	0.00	0.96	-0.62	-8.22	-11.40	-6.41
FDUS	0.00	0.00	3.30	7.94	0.00	3.30	14.65	15.60	11.88	9.34
FDUS	0.00	0.00	3.30	8.09	0.00	3.30	15.55	17.48	14.60	13.66
OCSL	0.00	0.00	0.68	1.32	0.00	0.68	6.77	5.92	7.10	2.22
OCSL	0.00	0.00	0.68	1.27	0.00	0.68	6.86	6.50	8.19	3.68
FSK	0.00	0.00	3.07	4.30	0.00	3.07	10.15	7.89	3.93	3.14
FSK	0.00	0.00	3.07	4.40	0.00	3.07	10.65	8.88	5.45	4.86
GAIN	0.00	0.61	1.84	3.28	0.61	2.46	16.20	15.61	9.76	11.09
GAIN	0.00	0.61	1.86	3.02	0.61	2.48	16.62	17.28	12.11	14.86
GSBD	0.00	0.00	3.08	6.23	0.00	3.08	13.71	7.94	6.61	-
GSBD	0.00	0.00	3.08	6.32	0.00	3.08	14.31	9.35	8.71	-
GBDC	2.59	1.98	5.66	8.66	1.98	5.66	15.82	9.48	6.72	6.50
GBDC	2.59	1.98	5.73	8.91	1.98	5.73	16.69	10.74	8.35	9.02
GLAD	0.00	0.83	5.59	10.70	0.83	6.45	18.66	15.64	11.77	6.49
GLAD	0.00	0.83	5.64	10.97	0.83	6.55	19.77	17.57	14.86	10.40
HRZN	0.00	1.14	3.19	-0.10	1.14	4.33	-2.47	7.13	6.81	4.63
HRZN	0.00	1.14	3.23	0.00	1.14	4.40	-2.49	7.58	8.10	7.00
HTGC	0.00	0.00	5.95	15.19	0.00	5.95	25.14	14.74	14.18	9.47
HTGC	0.00	0.00	6.02	15.74	0.00	6.02	27.34	18.80	19.22	15.71
PTMN	0.00	0.00	3.03	6.58	0.00	3.03	8.32	1.55	-2.01	-1.52
PTMN	0.00	0.00	3.03	6.69	0.00	3.03	8.80	1.72	-1.78	-2.47
MAIN	0.00	0.82	3.49	10.15	0.82	4.32	21.48	19.50	12.52	11.11
MAIN	0.00	0.82	3.54	10.45	0.82	4.39	22.95	22.55	16.69	17.09
PFX	0.00	0.00	0.00	3.38	0.00	0.00	16.65	9.43	-6.43	-4.25
PFX	0.00	0.00	0.00	3.38	0.00	0.00	16.65	9.44	-6.43	-7.63
MRCC	0.00	0.00	2.66	3.34	0.00	2.66	1.07	3.82	3.15	4.52
MRCC	0.00	0.00	2.66	3.36	0.00	2.66	1.07	3.95	3.81	5.99
NMFC	0.00	0.00	2.02	4.06	0.00	2.02	8.83	9.22	7.48	6.09
NMFC	0.00	0.00	2.02	4.08	0.00	2.02	9.11	10.20	9.32	9.09
OFS	0.00	0.00	-5.54	-7.69	0.00	-5.54	-7.38	6.95	5.08	5.15
OFS	0.00	0.00	-5.78	-8.20	0.00	-5.78	-8.36	6.32	5.52	6.85
PFLT	0.00	0.90	4.53	7.95	0.90	5.45	13.25	5.48	5.36	4.68
PFLT	0.00	0.90	4.57	8.15	0.90	5.53	14.08	6.48	6.76	6.63
PNNT	0.00	0.92	2.75	4.81	0.92	3.66	12.50	1.62	4.29	3.43
PNNT	0.00	0.92	2.77	4.93	0.92	3.71	13.05	1.82	4.93	5.11
PSEC	0.00	0.67	2.02	0.32	0.67	2.69	1.69	5.71	6.63	4.94
PSEC	0.00	0.67	2.03	0.37	0.67	2.72	1.79	5.83	7.64	7.18
SAR	0.00	0.00	2.66	1.51	0.00	2.66	3.77	8.43	10.01	8.27
SAR	0.00	0.00	2.66	1.58	0.00	2.66	3.97	9.08	11.24	10.92
SCM	1.01	1.01	3.02	6.59	1.01	4.02	7.13	7.64	6.78	6.30
SCM	1.01	1.01	3.05	6.76	1.01	4.08	7.67	8.60	8.32	9.17
SLRC	0.00	0.00	2.27	4.71	0.00	2.27	8.61	4.33	3.69	4.35
SLRC	0.00	0.00	2.27	4.76	0.00	2.27	8.92	4.99	4.59	5.85
BBDC	0.00	0.00	2.30	4.89	0.00	2.30	10.21	8.27	5.97	4.96
BBDC	0.00	0.00	2.30	4.95	0.00	2.30	10.54	9.14	7.11	7.19
TCPC	0.00	0.00	-3.53	-5.11	0.00	-3.53	-1.15	4.20	4.93	5.16
TCPC	0.00	0.00	-3.53	-5.56	0.00	-3.53	-1.96	3.92	5.65	7.05
OXSQ	0.00	1.45	-0.98	-5.40	1.45	0.39	5.71	-8.00	-5.27	0.35
OXSQ	0.00	1.45	-0.99	-5.60	1.45	0.37	5.03	-9.41	-6.47	-0.70
TPVG	0.00	0.00	2.28	-5.30	0.00	2.28	-9.15	1.64	4.12	5.10
TPVG	0.00	0.00	2.28	-5.66	0.00	2.28	-10.21	0.47	3.87	6.68
TSLX	0.00	0.00	3.93	7.48	0.00	3.93	16.09	12.63	12.02	9.13
TSLX	0.00	0.00	3.97	7.67	0.00	3.97	17.00	14.91	15.99	14.01
WHF	0.00	0.00	2.82	3.82	0.00	2.82	6.62	6.09	6.89	6.47
WHF	0.00	0.00	2.82	3.90	0.00	2.82	6.95	6.89	8.40	9.40
CSWC	0.00	0.00	3.76	9.54	0.00	3.76	17.53	14.51	9.13	5.26
CSWC	0.00	0.00	3.76	9.76	0.00	3.76	18.67	17.36	12.95	8.04
GECC	0.00	0.00	-0.54	3.80	0.00	-0.54	18.43	-8.01	-14.96	-
GECC	0.00	0.00	-0.54	3.83	0.00	-0.54	19.21	-8.20	-18.09	-
CGBD	0.00	0.00	2.83	6.23	0.00	2.83	9.95	11.90	7.81	-
CGBD	0.00	0.00	2.83	6.30	0.00	2.83	10.44	13.21	10.00	-
BCSF	0.00	0.00	2.56	5.30	0.00	2.56	10.94	9.73	4.80	-
BCSF	0.00	0.00	2.56	5.36	0.00	2.56	11.32	10.80	6.26	-
OBDC	0.00	0.00	2.91	6.04	0.00	2.91	13.00	9.97	-	-
OBDC	0.00	0.00	2.93	6.15	0.00	2.93	13.56	11.30	-	-
CCAP	0.00	0.00	2.54	6.85	0.00	2.54	13.26	7.91	-	-
CCAP	0.00	0.00	2.56	6.95	0.00	2.56	13.76	8.80	-	-
CION	0.00	0.00	2.09	8.29	0.00	2.09	18.07	-	-	-
CION	0.00	0.00	2.09	8.45	0.00	2.09	18.91	-	-	-
RWAY	0.00	0.00	3.48	2.49	0.00	3.48	8.96	-	-	-
RWAY	0.00	0.00	3.48	2.46	0.00	3.48	9.17	-	-	-
BXSL	0.00	0.00	2.89	6.25	0.00	2.89	13.68	-	-	-
BXSL	0.00	0.00	2.89	6.34	0.00	2.89	14.23	-	-	-
TRIN	0.00	0.00	1.52	5.47	0.00	1.52	14.46	11.03	-	-
TRIN	0.00	0.00	1.52	5.52	0.00	1.52	15.15	12.60	-	-
PIAC	0.00	0.00	0.00	0.00	0.00	0.00	3.85	16.18	0.29	-
PIAC	0.00	0.00	0.00	0.00	0.00	0.00	3.85	14.63	-0.51	-
PSBD	0.00	0.00	3.58	-	0.00	-	-	-	-	-
PSBD	0.00	0.00	3.58	-	0.00	-	-	-	-	-
MSDL	0.00	0.00	0.00	-	0.00	-	-	-	-	-
MSDL	0.00	0.00	0.00	-	0.00	-	-	-	-	-
NCDL	0.00	0.00	2.48	-	0.00	-	-	-	-	-
NCDL	0.00	0.00	2.48	-	0.00	-	-	-	-	-
OBDE	0.00	0.00	4.50	-	0.00	-	-	-	-	-
OBDE	0.00	0.00	4.50	-	0.00	-	-	-	-	-

Top Companies (%)
Integrity Marketing Acquisition, LLC	2.8%
GS Acquisitionco, Inc.	2.4%
Turbo Buyer, Inc.	2.3%
VRC Companies, LLC	2.3%
World Insurance Associates, LLC	2.0%
Patriot Growth Insurance Services, LLC	1.9%
MRI Software, LLC	1.8%
Classic Collision	1.6%
Foundation Risk Partners, Corp.	1.6%
High Street Buyer, Inc.	1.6%

DISCLOSURES:

CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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Morgan Stanley Direct Lending Fund (MSDL)

BDC - Debt Focused BDC