For the quarter ending 2026-03-31.
| Income Statement | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Interest income-Investment Unaffiliated Issuer | 81,640 | 91,003* | 93,477 | 93,752 |
| Payment-in-kind income-Investment Unaffiliated Issuer | 4,051 | 3,947* | 3,969 | 3,815 |
| Dividend income-Investment Unaffiliated Issuer | 932 | 847* | 685 | 650 |
| Other income-Investment Unaffiliated Issuer | 1,123 | 2,595* | 1,467 | 1,175 |
| Interest income-Investment Affiliated Issuer Noncontrolled | 100 | 30* | 36 | 44 |
| Payment-in-kind income-Investment Affiliated Issuer Noncontrolled | 53 | 10* | 88 | 72 |
| Dividend income-Investment Affiliated Issuer Noncontrolled | - | 12* | - | - |
| Dividend income-Investment Affiliated Issuer Controlled | 1,165 | - | - | - |
| Total investment income | 89,064 | 98,443* | 99,722 | 99,508 |
| Interest and other financing expenses | 30,665 | 33,218* | 33,903 | 34,707 |
| Management fees | 9,430 | 9,588* | 9,628 | 9,624 |
| Income based incentive fees | 5,800 | 7,845* | 9,281 | 9,279 |
| Professional fees | 1,474 | 1,675* | 2,530 | 1,698 |
| Directors fees | 129 | 129* | 129 | 130 |
| Administrative service fees | 61 | 38* | 81 | 85 |
| General and other expenses | 161 | 110* | 38 | 128 |
| Total expenses | 47,720 | 52,602* | 55,590 | 55,651 |
| Management fees waiver (note 3) | 0 | 641* | 0 | 0 |
| Incentive fees waiver (note 3) | 0 | 375* | 0 | 0 |
| Net expenses | 47,720 | 51,586* | 55,590 | 55,651 |
| Net investment income (loss) | 41,344 | 46,857* | 44,132 | 43,857 |
| Excise tax expense | 834 | 1,911* | 402 | 200 |
| Net investment income (loss) after taxes | 40,510 | 44,946* | 43,730 | 43,657 |
| Net realized gain (loss) on non-controlled/non-affiliated investments-Investment Unaffiliated Issuer | - | - | - | 25 |
| Net realized gain (loss) on non-controlled/non-affiliated investments | -13,173 | -7,550* | 22 | - |
| Foreign currency and other transactions | 2 | -47* | 4 | 66 |
| Net realized gain (loss) | -13,171 | -7,597* | 26 | 91 |
| Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated investments-Investment Unaffiliated Issuer | -29,707 | -10,647* | -15,909 | -7,751 |
| Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated investments-Investment Affiliated Issuer Noncontrolled | -672 | -114* | -222 | -2 |
| Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated investments-Investment Affiliated Issuer Controlled | -1,459 | - | - | - |
| Translation of assets and liabilities in foreign currencies | -11 | -37* | -24 | 101 |
| Net unrealized appreciation (depreciation) | -31,849 | -10,799* | -16,155 | -7,652 |
| Net realized and unrealized gain (loss) | -45,020 | -18,397* | -16,129 | -7,561 |
| Net increase in net assets resulting from operations | -4,510 | 26,549 | 27,601 | 36,096 |
| Basic EPS | -0.05 | 0.302 | 0.32 | 0.41 |
| Diluted EPS | -0.05 | 0.302 | 0.32 | 0.41 |
| Basic Average Shares | 85,775,149 | 87,775,794 | 86,844,648 | 87,189,801 |
| Diluted Average Shares | 85,775,149 | 87,775,794 | 86,844,648 | 87,189,801 |
Morgan Stanley Direct Lending Fund (MSDL)
Morgan Stanley Direct Lending Fund (MSDL)