Global X Funds - Global X U.S. Infrastructure Development ETF
US ˙ BATS ˙ US37954Y6730

SecurityPAVE / Global X Funds - Global X U.S. Infrastructure Development ETF
InstitutionMorgan Stanley
Latest Disclosed Ownership10,660,740 shares
Latest Disclosed Value $ 541,672,305
Morgan Stanley reports 4.33% increase in ownership of PAVE / Global X Funds - Global X U.S. Infrastructure Development ETF

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 10,660,740 shares of Global X Funds - Global X U.S. Infrastructure Development ETF (US:PAVE) valued at $541,672,199 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 10,218,475 shares of Global X Funds - Global X U.S. Infrastructure Development ETF. This represents a change in shares of 4.33% during the quarter. The current value of the position is $614,165,231 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 GLOBAL X FDS US INFR DEV ETF 37954Y673 10,660,740 442,265 4.33 541,672 10.92 0.0326
2026-05-27 2025-12-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 10,218,475 288,691 2.91 488,341 3.25 0.0292
2026-02-13 2025-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 10,218,475 288,691 488,341 0.0292
2026-05-27 2025-09-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 9,929,784 264,594 2.74 472,956 12.29 0.0286
2025-11-14 2025-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 9,929,784 264,594 472,956 0.0286
2025-08-15 2025-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 9,665,190 121,399 1.27 421,209 16.97 0.0274
2025-05-15 2025-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 9,543,791 486,787 5.37 360,087 -1.61 0.0257
2025-05-15 2024-12-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 9,057,004 350,894 4.03 365,994 2.13 0.0256
2025-02-14 2024-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 9,057,004 350,894 365,994 0.0256
2025-05-14 2024-09-30 13F/A-2 GLOBAL X FDS US INFR DEV ETF 37954Y673 8,706,110 458,347 5.56 358,344 17.36 0.0260
2025-02-14 2024-09-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 8,706,110 458,347 358,344 0.0260
2024-11-14 2024-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 8,706,110 458,347 358,344 0.0031
2025-05-14 2024-06-30 13F/A-2 GLOBAL X FDS US INFR DEV ETF 37954Y673 8,247,763 350,800 4.44 305,332 -2.88 0.0236
2024-10-17 2024-06-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 8,247,763 350,800 305,332 0.0236
2024-08-14 2024-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 8,247,763 350,800 305,332 0.0236
2024-10-17 2024-03-31 13F/A-2 GLOBAL X FDS US INFR DEV ETF 37954Y673 7,896,963 420,413 5.62 314,378 22.02 0.0252
2024-08-16 2024-03-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 7,896,963 420,413 314,378 0.0030
2024-05-15 2024-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 7,896,963 420,413 314,378 0.0252
2024-08-16 2023-12-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 7,476,550 443,469 6.31 257,642 20.58 0.0227
2024-02-13 2023-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 7,476,550 443,469 257,642 0.0227
2023-11-15 2023-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 7,033,081 1,452,495 26.03 213,665 21.82 0.0217
2023-08-14 2023-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,580,586 279,699 5.28 175,398 16.71 0.0173
2023-05-15 2023-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,300,887 78,878 1.51 150,280 8.64 0.0161
2023-02-14 2022-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,222,009 -175,292 -3.25 138,331 11.14 0.0157
2022-11-14 2022-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,397,301 -504,239 -8.54 124,462 -7.38 0.0170
2022-10-27 2022-06-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 5,901,540 -1,144,232 -16.24 134,378 -32.56 0.0174
2022-08-15 2022-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,901,540 -1,144,232 134,378 0.0035
2022-10-27 2022-03-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 7,045,772 -1,074,980 -13.24 199,255 -14.77 0.0269
2022-05-13 2022-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 7,045,772 -1,074,980 199,255 0.0269
2022-02-14 2021-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 8,120,752 794,881 10.85 233,796 25.59 0.0289
2021-11-15 2021-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 7,325,871 416,628 6.03 186,151 4.63 0.0251
2021-08-23 2021-06-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 6,909,243 1,848,260 36.52 177,913 40.28 0.0235
2021-08-16 2021-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 6,909,243 1,848,260 177,913 0.0049
2021-05-17 2021-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 5,060,983 3,048,717 151.51 126,828 197.16 0.0186
2021-02-16 2020-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 2,012,266 1,662,202 474.83 42,680 623.14 0.0066
2020-11-13 2020-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 350,064 169,176 93.53 5,902 113.69 0.0011
2020-08-14 2020-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 180,888 9,023 5.25 2,762 30.53 0.0006
2020-05-26 2020-03-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 171,865 44,619 35.07 2,116 -6.62 0.0006
2020-05-15 2020-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 171,865 44,619 2,116 162.5529
2020-02-14 2019-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 127,246 4,184 3.40 2,266 13.87 0.0005
2019-11-14 2019-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 123,062 6,304 5.40 1,990 4.57 0.0005
2019-08-14 2019-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 116,758 9,101 8.45 1,903 12.60 0.0005
2019-05-15 2019-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 107,657 15,563 16.90 1,690 36.29 0.0005
2019-02-14 2018-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 92,094 109 0.12 1,240 -21.47 0.0004
2019-04-23 2018-09-30 13F/A-2 GLOBAL X FDS US INFR DEV ETF 37954Y673 91,985 62,503 212.00 1,579 228.96 0.0004
2018-11-20 2018-09-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 91,985 0 1,579 0.0004
2018-11-14 2018-09-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 91,985 62,503 1,579
2019-04-23 2018-06-30 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 29,482 12,958 78.42 480 81.13 0.0001
2018-08-14 2018-06-30 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 29,482 12,958 480
2019-04-23 2018-03-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 16,524 16,474 32,948.00 265 26,400.00 0.0001
2018-05-14 2018-03-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 16,524 16,474 265
2019-04-23 2017-12-31 13F/A-1 GLOBAL X FDS US INFR DEV ETF 37954Y673 50 15 42.86 1 0.00 0.0000
2018-02-14 2017-12-31 13F GLOBAL X FDS US INFR DEV ETF 37954Y673 50 15 1
2017-11-14 2017-09-30 13F GLOBAL X FDS US INFR DEV 37954Y673 35 35 1 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.