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What changed in MS's 10-Q
Source: 10-Q filed 2026-05-05 · compared against 10-Q 2025-11-03. Every passage below is quoted verbatim from the filing itself.
Overall Performance
This filing
The Firm delivered ROE of 21.0% and ROTCE of 27.1%
Wealth Management
This filing
added net new assets of $118 billion and fee-based asset flows were $54 billion
Institutional Securities
This filing
strong results in our Markets business and higher Investment Banking revenues driven by Advisory
Investment Management
This filing
lower accrued carried interest in our private funds
Credit Losses
This filing
primarily related to certain commercial real estate loans and increased macroeconomic uncertainty
Capital and Balance Sheet
This filing
Common Equity Tier 1 capital—Advanced 16.1 %
Accounting Change
This filing
Beginning in the first quarter of 2026, derivatives were designated as cash flow hedges of the equity price risk associated with the majority of unvested DCP awards
What it means — the analyst reading
The passages above are the company's own words. The plain-English reading of them — what changed, why it matters, and the direction of travel — is part of the Filing Change Monitor.
See the Filing Change Monitor →Compared from narrative excerpts (outlook, risks, MD&A) of both filings — quotes are verbatim from the new filing. Not advice. Source: company SEC filings via stockportfolio.pro. Educational, not investment advice.