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 Sep 21, 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 N-14 8C dated Aug 27, 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 nine months to Jun 30, 2026 was $125.3M. In the nine months to Jun 30, 2026 it raised $225.0M from new shares, paid $25.4M in distributions. Reported NAV per share: $23.48 as of Jun 30, 2026.

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
Secured debt	$30.0M	as of Mar 31, 2025	$158.3M	−81.1%	10-Q · May 15, 2025
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	nine months to Jun 30, 2026	$113.7M	+10.2%	10-Q · Aug 14, 2026
Cash from operations	−$212.3M	nine months to Jun 30, 2026	−$364.1M	+41.7%	10-Q · Aug 14, 2026
Interest expense	$115.9M	nine months to Jun 30, 2026	$93.8M	+23.5%	10-Q · Aug 14, 2026
Management fees	$25.3M	nine 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	nine months to Jun 30, 2026	$0	—	10-Q · Aug 14, 2026
Distributions paid	$25.4M	nine months to Jun 30, 2024	$4.8M	+432.8%	10-Q · Aug 14, 2024
Distributions paid to common	$129.8M	nine months to Jun 30, 2026	$57.8M	+124.5%	10-Q · Aug 14, 2026
Distributions declared per share	$1.14	nine 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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We can tell you what the filings say. What we cannot tell you is what it means for your particular position, your tax situation and the rest of your portfolio, and anyone who does that from a web page without knowing your circumstances is guessing. With money in a non-traded vehicle with limited liquidity, deciding what to do with the position, that is the part that actually matters.

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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.

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 ↗
Dec 19, 2025N-14 8C · FilingEDGAR ↗
Dec 16, 20258-K · Current reportItems 5.03,9.01EDGAR ↗
Dec 15, 2025N-23C-2 · FilingEDGAR ↗
Dec 5, 20258-K · Current reportItems 1.01,2.03,8.01,9.01EDGAR ↗

Our reads on MSD Investment Corp..

No forensic read of this vehicle yet. When a filing changes something for holders — a tender offer, a repurchase cap, a NAV reset, a distribution cut — the read goes here.

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1849894, retrieved Sep 21, 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.

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