Vehicle file · Non-traded vehicle

MSD Investment Corp.

What its SEC filings show.

SEC CIK 1849894·Inc. MD·Fiscal year end 12/31·Data as filed · pulled Oct 12, 2026

What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

MSD Investment Corp. is a non-traded vehicle registered with the SEC under CIK 1849894 (incorporated in MD). Its most recent filing is an 8-K (current report) dated Oct 7, 2026. As of Jun 30, 2026 it reported total assets of $7.15B (up 36.9% from $5.22B a year earlier) and stockholders' equity of $3.50B. Net income (loss) for the six months to Jun 30, 2026 was $125.3M. It raised $225.0M from new shares in the six months to Jun 30, 2026; paid $25.4M in distributions in the six months to Jun 30, 2024. Reported NAV per share: $23.48 as of Jun 30, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 46 other vehicles of this type we track.

Liabilities were 51% of total assets at Jun 30, 2026. It ranks 19th of the 27 vehicles of this type that report the same figures (1st = least leveraged).
The management fee ran at about 1.47% a year of stockholders' equity ($25.3M in the six months to Jun 30, 2026, annualised; our arithmetic). It ranks 11th of the 16 vehicles of this type that report the same figures (1st = lowest fee).
NAV per share moved down 0.8% in a year, from $23.67 to $23.48 (before distributions). It ranks 7th of the 16 vehicles of this type that report the same figures (1st = best NAV change).

Key figures, as filed.

Balance sheet

Figure	Latest	Period	A year earlier	Change	Source
Total assets	$7.15B	as of Jun 30, 2026	$5.22B	+36.9%	10-Q · Aug 14, 2026
Investments at fair value	$6.86B	as of Jun 30, 2026	$5.06B	+35.4%	10-Q · Aug 14, 2026
Cash and equivalents	$226.3M	as of Jun 30, 2026	$118.3M	+91.2%	10-Q · Aug 14, 2026
Total liabilities	$3.65B	as of Jun 30, 2026	$2.77B	+32.1%	10-Q · Aug 14, 2026
Long-term debt	$3.43B	as of Jun 30, 2026	$2.65B	+29.4%	10-Q · Aug 14, 2026
Notes payable	$1.78B	as of Jun 30, 2026	$1.11B	+60.7%	10-Q · Aug 14, 2026
Stockholders' equity	$3.50B	as of Jun 30, 2026	$2.46B	+42.4%	10-Q · Aug 14, 2026
NAV per share	$23.48	as of Jun 30, 2026	$23.67	−0.8%	10-Q · Aug 14, 2026
Shares outstanding	149.0M shares	as of Jun 30, 2026	103.8M shares	+43.6%	10-Q · Aug 14, 2026
Shares outstanding (cover page)	149.0M shares	as of Aug 14, 2026	103.8M shares	+43.6%	10-Q · Aug 14, 2026

Results and cash flow

Figure	Latest	Period	A year earlier	Change	Source
Net income (loss)	$125.3M	six months to Jun 30, 2026	$113.7M	+10.2%	10-Q · Aug 14, 2026
Cash from operations	−$212.3M	six months to Jun 30, 2026	−$364.1M	+41.7%	10-Q · Aug 14, 2026
Interest expense	$115.9M	six months to Jun 30, 2026	$93.8M	+23.5%	10-Q · Aug 14, 2026
Management fees	$25.3M	six months to Jun 30, 2026	$18.4M	+37.5%	10-Q · Aug 14, 2026

Capital raised, distributions and repurchases

Figure	Latest	Period	A year earlier	Change	Source
Capital raised (common stock issued)	$225.0M	six months to Jun 30, 2026	$0	—	10-Q · Aug 14, 2026
Distributions paid to common	$129.8M	six months to Jun 30, 2026	$57.8M	+124.5%	10-Q · Aug 14, 2026
Distributions declared per share	$1.14	six months to Jun 30, 2026	$1.32	−13.6%	10-Q · Aug 14, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

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Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Oct 7, 20268-K · Current reportItems 8.01EDGAR ↗
Sep 30, 2026424B3 · Prospectus supplementEDGAR ↗
Sep 29, 2026EFFECT · FilingItems ,,EDGAR ↗
Sep 28, 2026N-14 8C/A · FilingEDGAR ↗
Aug 27, 2026N-14 8C · FilingEDGAR ↗
Aug 14, 202610-Q · Quarterly reportEDGAR ↗
Aug 14, 20268-K · Current reportItems 8.01EDGAR ↗
Jul 31, 20268-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
Jul 1, 20268-K · Current reportItems 3.02,9.01EDGAR ↗
Jun 12, 20268-K · Current reportItems 1.01,2.03,8.01,9.01EDGAR ↗
Jun 9, 20268-K · Current reportItems 8.01EDGAR ↗
Jun 9, 202640-17G · FilingEDGAR ↗
Jun 8, 20268-K · Current reportItems 1.01,2.03,9.01EDGAR ↗
May 15, 2026SCHEDULE 13G/A · FilingEDGAR ↗
May 14, 202610-Q · Quarterly reportEDGAR ↗
Mar 31, 2026DEF 14A · Proxy statementEDGAR ↗
Mar 27, 2026D/A · FilingItems 06bEDGAR ↗
Mar 26, 202610-K · Annual reportEDGAR ↗
Feb 17, 2026424B3 · Prospectus supplementEDGAR ↗
Feb 17, 2026SCHEDULE 13G/A · FilingEDGAR ↗
Feb 13, 2026EFFECT · FilingItems ,,EDGAR ↗
Feb 12, 2026N-14 8C/A · FilingEDGAR ↗
Feb 10, 2026N-14 8C/A · FilingEDGAR ↗
Feb 2, 2026N-14 8C/A · FilingEDGAR ↗
Jan 15, 202640-APP/A · FilingEDGAR ↗

Our reads on MSD Investment Corp..

01MSD Investment Corp. Has Never Run a Tender Offer: $3.17 Billion Called From Investors, NAV $23.48, Debt at 1.0x EquityOct 8, 2026

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1849894, retrieved Oct 12, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

More files.

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The weekly read

MSD Investment Corp.

What the figures say together

Key figures, as filed.

Filing timeline.

Our reads on MSD Investment Corp..

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