Morgan Stanley Direct Lending Fund (MSDL) Shares Outstanding (Diluted Average) (2022 - 2025)

Morgan Stanley Direct Lending Fund (MSDL) has 4 years of Shares Outstanding (Diluted Average) data on file, last reported at $87.2 million in Q2 2025.

• Quarterly Shares Outstanding (Diluted Average) fell 2.33% year-over-year to $87.2 million in Q2 2025, while the trailing twelve-month figure through Jun 2025 was $87.2 million (down 2.33% YoY) and the FY2023 annual result came in at $74.2 million, up 20.37% from the prior year.
• Shares Outstanding (Diluted Average) slipped to $87.2 million in Q2 2025 per MSDL's latest filing, from $88.4 million in the prior quarter.
• Across five years, Shares Outstanding (Diluted Average) topped out at $89.3 million in Q2 2024 and bottomed at $57.1 million in Q1 2022.
• The 4-year median for Shares Outstanding (Diluted Average) is $71.9 million (2023), against an average of $74.3 million.
• The widest annual swing landed in 2024, when Shares Outstanding (Diluted Average) grew 25.14%; it then decreased 2.33% in 2025.
• Tracing MSDL's Shares Outstanding (Diluted Average) over 4 years: stood at $61.7 million in 2022, then climbed by 20.37% to $74.2 million in 2023, then grew by 19.39% to $88.6 million in 2024, then fell by 1.63% to $87.2 million in 2025.
• Per Business Quant, the three latest MSDL Shares Outstanding (Diluted Average) figures stand at $87.2 million (Q2 2025), $88.4 million (Q1 2025), and $88.6 million (Q3 2024).

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