Related Party and Exempt Party-in-Interest Transactions (Tables)

12 Months Ended

Dec. 31, 2025

Investments in and gain or losses related to common stock and funds issued by Morgan Stanley and notes receivables from participants are as follows:


	At December 31, 2025		At December 31, 2024		Year Ended December 31, 2025
Morgan Stanley common stock
Number of shares held	$	24,995,637	$	26,058,267	n/a
Fair value of shares held	$	4,437,475,437	$	3,276,045,327	n/a
Net realized gain	n/a		n/a		$	177,136,227
Dividend income	n/a		n/a		$	99,549,410

Notes receivable from participants
Participant loans	$	130,838,275	$	130,367,784	n/a
Interest income	n/a		n/a		$	10,141,322