Houlihan Lokey, Inc.
US ˙ NYSE ˙ US4415931009

SecurityHLI / Houlihan Lokey, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership1,592,009 shares
Latest Disclosed Value $ 228,644,815
Morgan Stanley reports 189.29% increase in ownership of HLI / Houlihan Lokey, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 1,592,009 shares of Houlihan Lokey, Inc. (US:HLI) valued at $228,644,333 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 550,308 shares of Houlihan Lokey, Inc.. This represents a change in shares of 189.29% during the quarter. The current value of the position is $221,687,253 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F HOULIHAN LOKEY CL A 441593100 1,592,009 1,041,701 189.29 228,645 138.52 0.0138
2026-05-27 2025-12-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 550,308 -8,976 -1.60 95,858 -16.52 0.0057
2026-02-13 2025-12-31 13F HOULIHAN LOKEY CL A 441593100 550,308 -8,976 95,858 0.0057
2026-05-27 2025-09-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 559,284 -63,976 -10.26 114,833 2.39 0.0070
2025-11-14 2025-09-30 13F HOULIHAN LOKEY CL A 441593100 559,284 -63,976 114,833 0.0070
2025-08-15 2025-06-30 13F HOULIHAN LOKEY CL A 441593100 623,260 76,462 13.98 112,156 27.00 0.0073
2025-05-15 2025-03-31 13F HOULIHAN LOKEY CL A 441593100 546,798 -15,625 -2.78 88,308 -9.59 0.0063
2025-05-15 2024-12-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 562,423 36,665 6.97 97,671 17.56 0.0068
2025-02-14 2024-12-31 13F HOULIHAN LOKEY CL A 441593100 562,423 36,665 97,671 0.0068
2025-05-14 2024-09-30 13F/A-2 HOULIHAN LOKEY CL A 441593100 525,758 -37,307 -6.63 83,081 9.41 0.0060
2025-02-14 2024-09-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 525,758 -37,307 83,081 0.0060
2024-11-14 2024-09-30 13F HOULIHAN LOKEY CL A 441593100 525,758 -37,307 83,081 0.0007
2025-05-14 2024-06-30 13F/A-2 HOULIHAN LOKEY CL A 441593100 563,065 -179,335 -24.16 75,935 -20.21 0.0059
2024-10-17 2024-06-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 563,065 -179,335 75,935 0.0059
2024-08-14 2024-06-30 13F HOULIHAN LOKEY CL A 441593100 563,065 -179,335 75,935 0.0059
2024-10-17 2024-03-31 13F/A-2 HOULIHAN LOKEY CL A 441593100 742,400 31,130 4.38 95,168 11.58 0.0076
2024-08-16 2024-03-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 742,400 31,130 95,168 0.0009
2024-05-15 2024-03-31 13F HOULIHAN LOKEY CL A 441593100 742,400 31,130 95,168 0.0076
2024-08-16 2023-12-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 711,270 -11,772 -1.63 85,289 10.12 0.0075
2024-02-13 2023-12-31 13F HOULIHAN LOKEY CL A 441593100 711,270 -11,772 85,289 0.0075
2023-11-15 2023-09-30 13F HOULIHAN LOKEY CL A 441593100 723,042 -149,998 -17.18 77,452 -9.76 0.0079
2023-08-14 2023-06-30 13F HOULIHAN LOKEY CL A 441593100 873,040 -42,610 -4.65 85,829 7.14 0.0085
2023-05-15 2023-03-31 13F HOULIHAN LOKEY CL A 441593100 915,650 -15,614 -1.68 80,110 -1.30 0.0086
2023-02-14 2022-12-31 13F HOULIHAN LOKEY CL A 441593100 931,264 522,178 127.65 81,169 163.21 0.0092
2022-11-14 2022-09-30 13F HOULIHAN LOKEY CL A 441593100 409,086 -21,307 -4.95 30,838 -9.22 0.0042
2022-10-27 2022-06-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 430,393 134,338 45.38 33,971 30.69 0.0044
2022-08-15 2022-06-30 13F HOULIHAN LOKEY CL A 441593100 430,393 134,338 33,971 0.0009
2022-10-27 2022-03-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 296,055 99,188 50.38 25,994 27.55 0.0035
2022-05-13 2022-03-31 13F HOULIHAN LOKEY CL A 441593100 296,055 99,188 25,994 0.0035
2022-02-14 2021-12-31 13F HOULIHAN LOKEY CL A 441593100 196,867 5,992 3.14 20,379 15.93 0.0025
2021-11-15 2021-09-30 13F HOULIHAN LOKEY CL A 441593100 190,875 27,562 16.88 17,579 31.61 0.0024
2021-08-23 2021-06-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 163,313 -4,842 -2.88 13,357 19.42 0.0018
2021-08-16 2021-06-30 13F HOULIHAN LOKEY CL A 441593100 163,313 -4,842 13,357 0.0004
2021-05-17 2021-03-31 13F HOULIHAN LOKEY CL A 441593100 168,155 -91,578 -35.26 11,185 -35.94 0.0016
2021-02-16 2020-12-31 13F HOULIHAN LOKEY CL A 441593100 259,733 135,293 108.72 17,461 137.63 0.0027
2020-11-13 2020-09-30 13F HOULIHAN LOKEY CL A 441593100 124,440 13,299 11.97 7,348 18.82 0.0014
2020-08-14 2020-06-30 13F HOULIHAN LOKEY CL A 441593100 111,141 66,784 150.56 6,184 167.59 0.0014
2020-05-26 2020-03-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 44,357 -29,590 -40.02 2,311 -36.04 0.0006
2020-05-15 2020-03-31 13F HOULIHAN LOKEY CL A 441593100 44,357 -29,590 2,311 177.5330
2020-02-14 2019-12-31 13F HOULIHAN LOKEY CL A 441593100 73,947 45,412 159.14 3,613 180.51 0.0008
2019-11-14 2019-09-30 13F HOULIHAN LOKEY CL A 441593100 28,535 -78,518 -73.34 1,288 -72.99 0.0003
2019-08-14 2019-06-30 13F HOULIHAN LOKEY CL A 441593100 107,053 91,716 598.00 4,768 578.24 0.0013
2019-05-15 2019-03-31 13F HOULIHAN LOKEY CL A 441593100 15,337 -59,539 -79.52 703 -74.49 0.0002
2019-02-14 2018-12-31 13F HOULIHAN LOKEY CL A 441593100 74,876 -7,077 -8.64 2,756 -25.15 0.0008
2019-04-23 2018-09-30 13F/A-2 HOULIHAN LOKEY CL A 441593100 81,953 -46,051 -35.98 3,682 -43.83 0.0009
2018-11-20 2018-09-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 81,953 0 3,682 0.0009
2018-11-14 2018-09-30 13F HOULIHAN LOKEY CL A 441593100 81,953 -46,051 3,682
2019-04-23 2018-06-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 128,004 -62,252 -32.72 6,555 -22.75 0.0018
2018-08-14 2018-06-30 13F HOULIHAN LOKEY CL A 441593100 128,004 -62,252 6,555
2019-04-23 2018-03-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 190,256 73,221 62.56 8,485 59.61 0.0024
2018-05-14 2018-03-31 13F HOULIHAN LOKEY CL A 441593100 190,256 73,221 8,485
2019-04-23 2017-12-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 117,035 54,686 87.71 5,316 117.87 0.0015
2018-02-14 2017-12-31 13F HOULIHAN LOKEY CL A 441593100 117,035 54,686 5,316
2017-11-14 2017-09-30 13F HOULIHAN LOKEY CL A 441593100 62,349 -55,716 -47.19 2,440 -40.79 0.0007
2017-08-11 2017-06-30 13F HOULIHAN LOKEY CL A 441593100 118,065 -7,293 -5.82 4,121 -4.56 0.0012
2017-05-22 2017-03-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 125,358 58,936 88.73 4,318 108.90 0.0013
2017-05-12 2017-03-31 13F HOULIHAN LOKEY CL A 441593100 125,358 4,318
2017-02-22 2016-12-31 13F/A-1 HOULIHAN LOKEY CL A 441593100 66,422 35,975 118.16 2,067 170.90 0.0007
2017-02-13 2016-12-31 13F HOULIHAN LOKEY CL A 441593100 66,422 2,067
2016-11-10 2016-09-30 13F HOULIHAN LOKEY CL A 441593100 30,447 -14,166 -31.75 763 -23.62 0.0003
2016-08-12 2016-06-30 13F HOULIHAN LOKEY CL A 441593100 44,613 -639 -1.41 999 -11.44 0.0004
2016-05-12 2016-03-31 13F HOULIHAN LOKEY CL A 441593100 45,252 31,862 237.95 1,128 221.37 0.0004
2016-02-09 2015-12-31 13F HOULIHAN LOKEY CL A 441593100 13,390 12,071 915.16 351 1,110.34 0.0001
2016-02-08 2015-09-30 13F/A-1 HOULIHAN LOKEY CL A 441593100 1,319 1,319 29 0.0000
2015-11-09 2015-09-30 13F HOULIHAN LOKEY CL A 441593100 1,319 29 0.0000
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.