Lido Advisors LLC trimmed its exposure across multiple holdings in the first quarter, including selling 47,324 Morgan Stanley shares to hold 208,195 shares, a drop of 18.5%. It also reduced its position in the iShares MSCI ACWI ETF by 34.7% after divesting 116,899 shares, leaving 219,746 shares valued around $30.4 million. The firm lowered its stake in the Vanguard Russell 2000 ETF by 13.9% after selling 44,696 shares, for a total of 276,952 shares worth about $27.7 million. Lido further reduced its position in the State Street SPDR Portfolio S&P 500 ETF by 39.2% after selling 274,937 shares, bringing holdings to 426,058 shares. It also cut its iShares Russell Mid-Cap Growth ETF stake by 5.4% after selling 11,055 shares, leaving 193,236 shares valued at roughly $24.8 million. Taken together, these moves indicate a broad quarterly rebalance across large-cap, mid-cap, and international exposure.