Morgan Stanley MILITARY

Target: Morgan Stanley

Research date: 28 October 2026

Scope: Defence and military-sector supply relationships; defence-industry investments; securities and financing relationships; relevant controlling principals; military procurement; and activities within occupied territories.

Direct Defence Contracting & Procurement

Corporate identity and business activities

Morgan Stanley is a Delaware-incorporated US financial institution whose SEC registration identifies its principal business as securities brokerage, dealing and flotation activities; its 2025 Form 10-K documents investment banking, institutional securities, wealth management and investment management operations.^{1, 2}

Morgan Stanley’s June 2026 quarterly report records investment banking, trading, investment management, lending and other financial-services activities; the filing does not identify these general financial-services activities as direct Israeli military procurement contracts.³

Israeli Ministry of Defence, IDF and security-force procurement

No public evidence identified of an equipment procurement contract, direct military supply agreement, maintenance contract or defence consultancy award between Morgan Stanley and the Israeli Ministry of Defence, Israel Defence Forces, Israel Prison Service or Israel Border Police.

Defence trade directories and procurement registries

No public evidence identified of Morgan Stanley being listed as an Israeli defence-equipment supplier in a SIBAT directory or as a named contractor in a verified Israeli military equipment procurement award.

Defence-sector financial relationships

In September 2024, UN Special Procedures mandate holders named Morgan Stanley & Co. LLC among US-based financial institutions reportedly investing in defence manufacturers exporting weapons to Israel; the communication also identified Boeing, Caterpillar, General Dynamics, RTX, Oshkosh, Northrop Grumman and Lockheed Martin as relevant manufacturers.⁴

The UN communication identified an investment relationship but did not disclose a Morgan Stanley-specific financing amount, securities transaction, underwriting mandate or Israeli military procurement contract in the relevant passage.⁴

Act record - UN-documented defence investment relationship

• Acting entity: Morgan Stanley & Co. LLC.
• Identified beneficiaries: defence manufacturers exporting weapons to Israel, described collectively in the UN communication.
• Channel: financial investment.
• Source channel: UN Special Procedures communication hosted by spcommreports.ohchr.org.
• Earliest documented observation: September 2024.
• Latest independently confirmed observation of this specific communication: September 2024.
• Continuing status: unknown for the precise investments discussed.
• Identified individual transactions: not specified in the communication.
• Exact financing amounts: not specified.
• Geographic end-use: Israel identified; individual contract locations not established.
• Public communication: the UN mandate holders addressed a communication to the US government; Morgan Stanley was a named subject, not the author of the communication.⁴

Banking subsidiaries and operational integration

Morgan Stanley’s March 2026 Form 10-Q disclosed that the fixed-income business of Morgan Stanley Capital Services LLC was merged into Morgan Stanley Bank, N.A. on 14 February 2026, and that Morgan Stanley Europe SE and Morgan Stanley Bank AG subsequently entered the US bank subsidiary structure through a transaction dated 14 March 2026.⁵

These disclosed reorganisations identify integrated financial-services entities but provide no specific Israeli military procurement relationship for the reorganised businesses.⁵

Official announcements

No public evidence identified of a Morgan Stanley announcement establishing a direct equipment-supply partnership, weapons-development agreement or IDF procurement programme.

Dual-Use Products & Tactical Variants

Product characteristics

Morgan Stanley’s 2025 annual report describes financial intermediation, institutional securities, wealth management and investment management as core operating activities; it does not establish a product line comprising tactical vehicles, ruggedised military equipment or military-specific electronics.²

Its first-quarter 2026 report describes investment banking, capital markets and related financial services; none of the identified operating disclosures establishes a military-targeting system or defence-grade tactical product manufactured by Morgan Stanley.⁶

Civilian versus military use

Morgan Stanley’s disclosed securities and financing services can serve clients across industries, but the existence of general investment banking capabilities does not establish a bespoke Israeli military product or a military end-user contract.^{2, 3}

Military-specific AI and software

No public evidence identified of Morgan Stanley developing or supplying autonomous targeting software, fire-control AI, kill-chain automation, precision-guidance software or weapons-integration software to Israeli military end-users.

Export licences and end-user documentation

No public evidence identified of a Morgan Stanley export licence, military end-user certificate or government review covering defence-grade products supplied to Israeli security forces.

Named intermediaries

No public evidence identified of an authorised Israeli military-equipment distributor, reseller or tactical-product integrator acting for Morgan Stanley.

Israeli employee reservist policies

No public evidence identified establishing a Morgan Stanley Israel-specific reservist salary subsidy, military-leave supplement or financial benefit expressly tied to participation in IDF operations.

Heavy Machinery, Construction & Infrastructure

Morgan Stanley equipment

No public evidence identified of machinery or vehicles manufactured or supplied by Morgan Stanley being used for settlement construction, military installations, checkpoints, demolition or separation-barrier construction.

Caterpillar governance connection

Morgan Stanley’s 2026 proxy statement identifies Rayford Wilkins Jr. as a Morgan Stanley director and records Caterpillar Inc. among his other public-company board affiliations.⁷

The September 2024 UN Special Procedures communication separately identifies Caterpillar among US companies whose equipment transfers to Israel were examined in the communication.⁴

Act record - Rayford Wilkins Jr.

• Acting individual: Rayford Wilkins Jr.
• Corporate relationships: Morgan Stanley director; separate Caterpillar board affiliation.
• Identified corporate beneficiaries: Morgan Stanley and Caterpillar as the entities receiving his respective board services.
• Channel: corporate governance.
• Source channel: Morgan Stanley SEC proxy disclosure.
• Earliest confirmed Morgan Stanley director appointment: 2013.
• Latest verified disclosure: April 2026.
• Continuing status at research date: not independently established beyond the 2026 proxy disclosure.
• Israel-specific military transaction attributable to the director: none verified.
• Evidence of Morgan Stanley control over Caterpillar military sales: none identified.⁷

Direct and indirect supply

The director relationship does not establish that Morgan Stanley manufactured, purchased, sold, distributed or financed specific Caterpillar equipment subsequently used by Israeli forces.^{4, 7}

Construction and engineering contracts

No public evidence identified of Morgan Stanley holding a contract to construct or maintain Israeli military bases, checkpoints, detention facilities, settlement infrastructure or the separation barrier.

Occupied-territory operations

No verified Morgan Stanley-specific physical machinery, engineering contract or construction operation in the occupied West Bank, East Jerusalem or Golan Heights was identified.

Supply Chain Integration with Defence Primes

Elbit Systems - institutional securities holdings

A publicly accessible 13F-derived ownership dataset attributes holdings of Elbit Systems Ltd. shares to Morgan Stanley over successive reporting periods, including approximately 122,000 shares at 30 June 2024, 119,000 shares at 30 September 2024, 120,000 shares at 31 December 2024, 320,000 shares at 30 June 2025, 288,000 shares at 30 September 2025, 212,000 shares at 31 December 2025 and 164,000 shares at 31 March 2026.⁸

The same aggregation reports corresponding values of approximately $22 million at 30 June 2024, $24 million at 30 September 2024, $31 million at 31 December 2024, $144 million at 30 June 2025, $147 million at 30 September 2025, $123 million at 31 December 2025 and $140 million at 31 March 2026.⁸

Morgan Stanley filed a Form 13F holdings report with the SEC for the quarter ended 30 September 2025, signed on 14 November 2025; the accessible cover document confirms the reporting manager and reporting period, while the individual Elbit position figures above derive from the third-party aggregation and remain subject to reconciliation against the original SEC information tables.^{9, 8}

The historical Elbit institutional-holder directory independently identifies Elbit’s ordinary shares under CUSIP M3760D101 and records successive quarters of institutional reporting; its public overview does not by itself prove the Morgan Stanley-specific positions or distinguish proprietary holdings from managed assets.¹⁰

Act record - Elbit Systems shareholdings

• Acting/reporting entity: Morgan Stanley, as identified by the institutional-holdings aggregation.
• Securities issuer: Elbit Systems Ltd.
• Channel: reported ownership or investment-management holdings of publicly traded securities.
• Publication channel: stockzoa.com; underlying filing system: sec.gov.
• Earliest observation in the extracted series: June 2023.
• Latest extracted observation: March 2026.
• Post-19 July 2024 evidence: reported positions for September and December 2024, and subsequent quarters.
• Post-November 2024 evidence: reported positions throughout 2025 and March 2026.
• Continuing status after March 2026: unknown.
• Proprietary versus client-managed ownership: unresolved.
• Primary versus secondary-market purchase: unresolved.
• Direct financial proceeds to Elbit Systems: not established.
• Specific Israeli military programme financed: not identified.^{8, 9}

Independent reporting

On 13 October 2025, Chilean investigative publication CIPER reported that Morgan Stanley was among financial institutions with equity exposure to companies producing weapons associated with military operations in Gaza; the investigation distinguished those holdings from the institutions specifically examined in the July 2025 Albanese report.¹¹

The UN Special Procedures communication independently identified Morgan Stanley & Co. LLC among investors in defence manufacturers exporting arms to Israel, but the document did not assign the firm a specific contract value or identify an individual weapons system financed by Morgan Stanley.⁴

Elbit corporate ownership context

A publicly accessible Elbit ownership directory identifies a 13G disclosure by Harel Insurance Investments & Financial Services Ltd. concerning a 5.20% stake as of October 2026; this is ownership context for Elbit and does not establish an ownership or contractual relationship between Harel and Morgan Stanley.¹²

Boeing governance connection

Morgan Stanley’s 2026 proxy identifies director Lynn J. Good as affiliated with The Boeing Company through a separate board appointment.⁷

The September 2024 UN communication identifies Boeing as a US defence manufacturer relevant to weapons transfers to Israel.⁴

Act record - Lynn J. Good

• Acting individual: Lynn J. Good.
• Corporate relationships: Morgan Stanley director; separate Boeing board affiliation.
• Channel: corporate governance.
• Beneficiaries: Morgan Stanley and Boeing in their respective board relationships.
• Publication channel: SEC-hosted Morgan Stanley proxy statement.
• Morgan Stanley director appointment: 2025.
• Latest verified disclosure: April 2026.
• Continuing status: the 2026 proxy documents the affiliation; subsequent changes have not been independently established.
• Identified Israel-specific transaction undertaken on Morgan Stanley’s behalf: none verified.
• Evidence of Morgan Stanley participation in Boeing military procurement through this director: none identified.⁷

Other defence manufacturers

The September 2024 UN communication named General Dynamics, RTX, Oshkosh, Northrop Grumman and Lockheed Martin among US defence manufacturers relevant to transfers to Israel and separately identified Morgan Stanley & Co. LLC among financial institutions investing in such companies.⁴

The communication does not provide a complete institution-by-manufacturer transaction matrix, and the exact Morgan Stanley investments in each named manufacturer were not independently reconstructed.⁴

Component supply and manufacturing services

No public evidence identified of Morgan Stanley supplying optical equipment, electronics, guidance systems, propulsion components, communications hardware, armour, precision components or other manufactured inputs to Elbit, Rafael, Israel Aerospace Industries or Israel Military Industries.

Joint development and technology transfer

No public evidence identified of Morgan Stanley participating as a developer, manufacturing licensee or engineering contractor in an Israeli defence technology programme.

Financial-sector integration

Morgan Stanley’s 2026 proxy identifies Mitsubishi UFJ Financial Group as its largest disclosed shareholder and describes the Morgan Stanley–MUFG alliance, including Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. and Morgan Stanley MUFG Securities Co., Ltd.⁷

The disclosed ownership and joint-venture arrangements establish financial-services integration, but the cited proxy does not establish a specific Israeli defence contract undertaken by either joint venture.⁷

On 21 May 2025, Morgan Stanley & Co. LLC entered into a documented underwriting agreement with Israeli defence manufacturer Elbit Systems Ltd. for a primary equity offering. Schedule A of the agreement allocated Morgan Stanley 273,090 initial ordinary shares, representing 20% of the 1,365,450-share initial offering, at a public offering price of $375 per share. The contractual purchase price payable by underwriters was $367.61 per share, reflecting a $7.39 underwriting discount. Morgan Stanley’s initial allocation therefore represented approximately $102.41 million at the public offering price and $100.39 million at the contractual purchase price. BofA Securities acted as representative of the underwriters, with J.P. Morgan Securities LLC and Jefferies LLC also participating. The agreement specified that the underwriters’ purchase obligations were several rather than joint. Elbit’s published prospectus independently confirms Morgan Stanley’s precise allocation and the applicable pricing terms.^{13, 14}

Elbit’s offering closed on 23 May 2025 following the full exercise of the underwriters’ option to purchase an additional 204,817 ordinary shares. The completed primary offering consequently comprised 1,570,267 newly issued shares at $375 per share, generating approximately $588.85 million in gross proceeds for Elbit. Elbit’s subsequent corporate reporting independently confirms the completed transaction, full exercise of the additional-share option and final gross proceeds of approximately $588.8 million. The proceeds accrued to Elbit as the issuing company, establishing a direct primary-market capital-raising relationship facilitated by Morgan Stanley and its fellow underwriters. The reviewed closing disclosures do not establish Morgan Stanley’s precise individual allocation of the additional shares.^{14, 15}

Elbit’s May 2025 prospectus stated that the company expected approximately $575 million in net proceeds following full exercise of the additional-share option, after estimated underwriting discounts, commissions and offering expenses. The stated intended use was general corporate purposes, with management retaining broad discretion over the eventual allocation. The underwriting therefore provided capital-market financing to an Israeli defence manufacturer, but the reviewed transaction documents do not identify a particular weapons system, Israeli military procurement contract or operational programme as the designated recipient of the proceeds. This documented underwriting relationship is distinct from Morgan Stanley’s previously reported secondary-market institutional securities holdings in Elbit.^{14, 15}

Logistical Sustainment & Base Services

Military installation services

No public evidence identified of Morgan Stanley providing catering, fuel, transport, telecommunications, waste management, facilities maintenance or comparable sustainment services to IDF installations.

Geographic specificity

No public evidence identified of a Morgan Stanley military-base services contract covering the Negev, occupied West Bank, East Jerusalem or occupied Golan Heights.

Freight and port services

No public evidence identified of Morgan Stanley acting as a freight forwarder, military cargo carrier, port operator or arms-shipment handling contractor serving Israel.

Finance and logistics distinction

Morgan Stanley’s 2026 third-quarter earnings release identifies its activities in institutional securities, wealth management and investment management; it does not establish that the firm directly operates Israeli military logistics or port infrastructure.¹⁶

Subsidiary operations

Morgan Stanley’s 2025 Form 10-K includes a separate exhibit identifying significant subsidiaries; the exhibit is a corporate-structure disclosure and does not itself establish military logistics contracts for any listed subsidiary.¹⁷

Shipping contracts

No public evidence identified of a Morgan Stanley shipping agreement specifically servicing Israeli defence logistics.

Munitions, Weapons Systems & Strategic Platforms

Weapons manufacturing

No public evidence identified that Morgan Stanley directly manufactures small arms, artillery, armoured vehicles, combat aircraft, drones, missiles, naval weapons or other lethal military platforms supplied to Israel.

Munitions and precursor materials

No public evidence identified of Morgan Stanley directly supplying ammunition, explosives, propellants, warhead components or munitions precursors to Israeli military end-users.

Strategic weapons systems

No public evidence identified that Morgan Stanley directly manufactures, integrates or maintains Iron Dome, David’s Sling, Arrow, fighter aircraft, tank fire-control systems, naval weapons or ballistic-missile systems for Israel.

Financial exposure to military manufacturers

The September 2024 UN communication identifies Morgan Stanley & Co. LLC among financial institutions reportedly investing in manufacturers supplying defence equipment to Israel; the documented relationship concerns investment exposure rather than direct production or delivery of weapons by Morgan Stanley.⁴

Elbit Systems

Historical institutional-holdings data attribute Elbit Systems shares to Morgan Stanley, including observations after July and November 2024; the securities data do not identify individual Elbit military systems, customers or contracts financed by the holdings.⁸

Military-specific targeting software

No public evidence identified of Morgan Stanley supplying software purpose-built to produce targeting decisions or weapons effects for Israeli forces.

Critical subsystems

No public evidence identified of Morgan Stanley directly providing guidance electronics, radar components, propulsion systems, fire-control equipment or critical weapons components to Israeli military contractors.

Export Licensing, Regulatory & Legal History

Corporate regulatory identity

Morgan Stanley’s SEC reporting identifies its financial-services regulatory status, including its classification as a securities broker and dealer; the reviewed registration does not establish a defence-equipment exporter classification.¹

Export-control decisions

No public evidence identified of a government granting, suspending, denying or revoking an Israeli military end-user export licence issued to Morgan Stanley for weapons or controlled military equipment.

Arms embargo proceedings

No public evidence identified of an arms-embargo enforcement action against Morgan Stanley specifically concerning the export of military equipment to Israel.

Sanctions and export-control investigations

No public evidence identified of a publicly adjudicated enforcement proceeding concerning Morgan Stanley’s direct supply of Israeli military hardware or components.

UN communications

In September 2024, UN Special Procedures mandate holders raised concerns concerning US defence exports to Israel and investment exposure to the manufacturers involved, specifically identifying Morgan Stanley & Co. LLC among financial institutions; this communication is a formal human-rights communication and does not constitute a finding that Morgan Stanley violated an export-control law.⁴

Judicial proceedings

No public evidence identified of a court judgment establishing Morgan Stanley liability for direct weapons supply to Israeli forces.

Constructive-notice chronology

Morgan Stanley’s reported Elbit positions include observations after the 19 July 2024 ICJ Advisory Opinion and after the November 2024 ICC arrest warrants; the available ownership data do not establish when individual investment decisions were made or whether the assets were held for clients.⁸

Morgan Stanley’s September 2025 Form 13F provides independent documentary confirmation that the firm continued submitting institutional-holdings disclosures during the relevant later period, but the SEC cover page alone does not specify the issuer-level holdings discussed above.⁹

Verified cessation

No public evidence identified establishing a complete, verified cessation of Morgan Stanley’s reported defence-industry securities exposure.

Civil Society Scrutiny & Documented Investigations

UN Special Procedures - September 2024

UN Special Procedures mandate holders explicitly named Morgan Stanley & Co. LLC in a communication concerning investments by US financial institutions in defence manufacturers exporting weapons to Israel.⁴

The communication was addressed to the US government and discussed the role of weapons manufacturers and their investors; it is a documented civil-society and international human-rights scrutiny event, not a Morgan Stanley corporate admission.⁴

CIPER Chile - October 2025

CIPER’s 13 October 2025 investigation reported that Morgan Stanley, alongside other financial institutions, held shares in companies associated with the supply of weapons used in Gaza; the publication explicitly distinguished these institutions from those singled out in the July 2025 Albanese report.¹¹

Broader financial-sector scrutiny

A 21 July 2026 Ethical Consumer investigation evaluated financial institutions using separate categories for general military financing, financing of weapons manufacturers linked to Israel and financing of companies associated with settlements; the publication’s distinction between these mechanisms is relevant to interpreting Morgan Stanley’s reported securities positions.¹⁸

Company-specific settlement allegations

No verified Morgan Stanley-specific entry in the OHCHR settlement database was established from the accessible material examined.

A/HRC/59/23

No public evidence independently verified in this investigation that Morgan Stanley was individually identified among the companies analysed in the relevant military and finance sections of the July 2025 A/HRC/59/23 report.

PAX, Al-Haq, AFSC and Who Profits

No additional Morgan Stanley-specific transaction from these organisations was independently verified through accessible primary supporting records during this investigation.

Governance and controlling principals

Morgan Stanley’s 2026 definitive proxy identifies Edward (Ted) Pick as Chairman and CEO and names the company’s board members and principal shareholders, providing an authoritative basis for identifying the individuals and institutions requiring governance-related investigation.⁷

The disclosed principal shareholders were Mitsubishi UFJ Financial Group (24.0%), State Street (7.2%), Vanguard (6.9%) and BlackRock (5.7%); only MUFG exceeded the 10% threshold in the disclosed table.⁷

The available 2025 proxy provides an earlier comparison of corporate governance, leadership and director disclosures, including the transition following James Gorman’s departure from the executive-chairman position.¹⁹

Named-entity investigation register

The following entries record entities identified from the 2026 proxy, corporate filings and the UN communication. “Searched, none found” means no verified Israel-specific Military act was established in the research reviewed, rather than a definitive determination that none exists.

Ownership and integrated entities

• Morgan Stanley - target and reporting institution; searched for Israeli military contracting, defence financing and weapons-manufacturer holdings; UN-documented investment allegation and institutional holdings evidence identified.^{4, 8}
• Morgan Stanley & Co. LLC - integrated securities entity; searched for defence-industry investment and Israeli military connections; explicitly named in September 2024 UN communication.⁴
• Mitsubishi UFJ Financial Group, Inc. - 24.0% shareholder and strategic-alliance counterparty; searched for Israel-specific military procurement through the relationship; searched, none found.⁷
• State Street Corporation - 7.2% disclosed shareholder; searched for target-specific defence control or financing acts; searched, none found.⁷
• The Vanguard Group, Inc. - 6.9% disclosed shareholder; searched for target-specific defence control or financing acts; searched, none found.⁷
• BlackRock, Inc. - 5.7% disclosed shareholder; searched for target-specific defence control or financing acts; searched, none found.⁷
• Morgan Stanley Bank, N.A. - banking subsidiary; searched for Israeli military end-user contracts; searched, none found.⁵
• Morgan Stanley Capital Services LLC - integrated fixed-income entity subject to February 2026 reorganisation; searched for Israeli military contracts; searched, none found.⁵
• Morgan Stanley Europe SE - integrated European banking entity; searched for Israeli defence contracts; searched, none found.⁵
• Morgan Stanley Bank AG - integrated banking entity; searched for Israeli defence contracts; searched, none found.⁵
• Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. - joint-venture entity; searched for Israeli military underwriting or procurement; searched, none found.⁷
• Morgan Stanley MUFG Securities Co., Ltd. - joint-venture entity; searched for Israeli military underwriting or procurement; searched, none found.⁷

Controlling principals, directors and executives

• Edward (Ted) Pick - Chairman and CEO; searched for Israeli military contracts, defence-industry roles and military-linked philanthropy; searched, none found.⁷
• Megan Butler - director; searched for Israeli defence-sector affiliations; searched, none found.⁷
• Thomas H. Glocer - independent lead director; searched for Israel-specific defence relationships; searched, none found.⁷
• Lynn J. Good - director; separate Boeing board affiliation identified; no Morgan Stanley-specific Israeli military transaction verified.⁷
• Robert H. Herz - director; searched for Israeli defence-sector affiliations; searched, none found.⁷
• Yasushi Itagaki - MUFG-designated director nominee; searched for Israel-specific defence relationships; searched, none found.⁷
• Erika H. James - director; searched for Israeli military or defence-sector relationships; searched, none found.⁷
• Hironori Kamezawa - director and MUFG chairman; searched for Israeli military or defence financing acts attributable to Morgan Stanley; searched, none found.⁷
• Shelley B. Leibowitz - director; searched for Israeli military procurement and security-sector affiliations; searched, none found.⁷
• Jami Miscik - director and former CIA Deputy Director for Intelligence; searched for Israeli military-intelligence, procurement and defence-sector connections; no specific Israeli military act verified.⁷
• Dennis M. Nally - director; searched for Israeli defence-sector affiliations; searched, none found.⁷
• Douglas L. Peterson - director; searched for Israeli military or defence financing acts; searched, none found.⁷
• Mary L. Schapiro - director; searched for Israeli military and defence-sector affiliations; searched, none found.⁷
• Perry M. Traquina - director; searched for Israeli defence-industry roles; searched, none found.⁷
• Rayford Wilkins Jr. - director; Caterpillar board affiliation identified; no Morgan Stanley-specific military supply transaction verified.⁷
• Masato Miyachi - outgoing MUFG-designated director; searched for Israeli military and defence financing acts; searched, none found.⁷
• Sharon Yeshaya - named executive officer; searched for Israel-specific military financing and defence-sector affiliations; searched, none found.⁷
• Andrew M. Saperstein - named executive officer; searched for Israeli military financing and related public communications; searched, none found.⁷
• Daniel A. Simkowitz - named executive officer; searched for Israeli defence finance and military-sector roles; searched, none found.⁷
• Eric F. Grossman - named executive officer; searched for Israeli defence-sector affiliations; searched, none found.⁷
• James Gorman - former executive chairman and CEO; searched for Israeli defence financing and military-linked philanthropy; searched, none found.¹⁹

Public communications

Morgan Stanley’s October 2026 third-quarter earnings communication described the financial performance of its institutional securities, wealth management and investment management businesses; no Israel-specific military procurement announcement was identified in that communication.¹⁶

The SEC’s April 2026 additional proxy materials provide supplementary shareholder communications; no company admission of an Israeli military-equipment supply contract was identified in the accessible document.²⁰

Boycott and divestment activity

No public evidence identified of a completed Morgan Stanley-specific institutional divestment decision expressly justified by a verified direct Israeli military procurement contract.

Corporate response

No public evidence identified of a Morgan Stanley statement specifically responding to the September 2024 UN communication or announcing verified termination of the investment relationships described in that communication.

Temporal status

The documented UN communication dates to September 2024, the investigated Elbit ownership series includes observations through March 2026, and the company governance disclosures include records published in April 2026; those dates establish observations at different times and do not independently prove continuous contractual relationships between observations.^{4, 8, 7}