Morningstar, Inc.
MORN- Exchange
- Nasdaq
- Industry
- Investment Advice
- SEC CIK
- 0001289419
In the last 90 days, Morningstar, Inc. insiders filed 0 open-market purchases and 8 sales; 420 institutions reported holding it in 13F filings for Q2 2026, worth $3.79B in total; no superinvestor holds it.
13F holders, Q4 2025
Institutional positions in Morningstar, Inc. as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 475
- +32 vs. Q3 2025
- Shares held
- 24.2M
- −557.2K (−2.2%) vs. Q3 2025
- Total value
- $5.27B
- −$485.5M (−8.4%) vs. Q3 2025
- New holders
- 90
- 149 more added
- Sold out
- 58
- 190 more reduced
9 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting MORN on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 420 | $3.79B |
| Q1 2026 | 447 | $3.99B |
| Q4 2025 | 475 | $5.27B |
| Q3 2025 | 452 | $5.78B |
| Q2 2025 | 481 | $8.05B |
| Q1 2025 | 464 | $7.57B |
| Q4 2024 | 451 | $8.67B |
| Q3 2024 | 412 | $8.25B |
| Q2 2024 | 393 | $7.63B |
| Q1 2024 | 385 | $7.92B |
| Q4 2023 | 353 | $7.22B |
| Q3 2023 | 325 | $6.17B |
| Q2 2023 | 294 | $4.79B |
| Q1 2023 | 302 | $4.85B |
| Q4 2022 | 318 | $5.14B |
| Q3 2022 | 311 | $4.99B |
| Q2 2022 | 325 | $5.67B |
| Q1 2022 | 336 | $6.41B |
| Q4 2021 | 341 | $7.92B |
| Q3 2021 | 318 | $5.83B |
| Q2 2021 | 295 | $5.62B |
| Q1 2021 | 309 | $4.83B |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding Morningstar, Inc.; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Level Four Advisory Services, LLC | 4,602 | $1.00M | 0.03% | −1,036−18.4% | Reduced |
| Fox Run Management, L.L.C. | 4,471 | $971.6K | 0.15% | +1,130+33.8% | Added |
| Entropy Technologies, LP | 4,435 | $963.8K | 0.05% | +3,000+209.1% | Added |
| Ameritas Investment Partners, Inc. | 4,372 | $950.1K | 0.03% | −214−4.7% | Reduced |
| Martin Capital Advisors, LLP | 4,202 | $913.1K | 0.54% | 00.0% | Unchanged |
| Diversify Wealth Management, LLC | 4,168 | $900.1K | 0.04% | +82+2.0% | Added |
| CAPROCK Group, Inc. | 3,925 | $852.9K | 0.02% | +3,925 | New |
| Park Avenue Securities LLC | 3,922 | $852.0K | 0.01% | +1,227+45.5% | Added |
| Pictet Asset Management Holding SA | 3,881 | $843.4K | 0.00% | +235+6.4% | Added |
| Xponance, Inc. | 3,739 | $812.5K | 0.01% | −489−11.6% | Reduced |
| M&T Bank Corp | 3,728 | $810.1K | 0.00% | −3,436−48.0% | Reduced |
| Banco Bilbao Vizcaya Argentaria, S.A. | 3,661 | $795.5K | 0.01% | −764−17.3% | Reduced |
| Johnson Investment Counsel Inc | 3,542 | $769.7K | 0.01% | −856−19.5% | Reduced |
| Victory Capital Management Inc | 3,538 | $768.8K | 0.00% | −5,231−59.7% | Reduced |
| Oak Thistle LLC | 3,535 | $768.2K | 0.11% | +3,535 | New |
| Mirabella Financial Services LLP | 3,525 | $766.0K | 0.07% | +3,525 | New |
| Daiwa Securities Group Inc. | 3,501 | $761.0K | 0.00% | −8,299−70.3% | Reduced |
| Aigen Investment Management, LP | 3,479 | $756.0K | 0.18% | +983+39.4% | Added |
| Marshall Wace, LLP | 3,454 | $750.6K | 0.00% | +3,454 | New |
| HB Wealth Management, LLC | 3,322 | $721.9K | 0.00% | +461+16.1% | Added |
| R Squared Ltd | 3,241 | $704.3K | 0.33% | −324−9.1% | Reduced |
| Callan Family Office, LLC | 3,230 | $701.9K | 0.02% | +2,234+224.3% | Added |
| Advisory Services Network, LLC | 3,173 | $689.5K | 0.01% | +526+19.9% | Added |
| Kera Capital Partners, Inc. | 3,396 | $686.3K | 0.08% | +3,396 | New |
| Voleon Capital Management LP | 3,142 | $682.8K | 0.01% | −15,701−83.3% | Reduced |
| Capstone Investment Advisors, LLC | 3,049 | $662.6K | 0.01% | +3,049 | New |
| Neuberger Berman Group LLC | 3,028 | $658.0K | 0.00% | −6,347−67.7% | Reduced |
| Bradley Foster & Sargent Inc | 3,021 | $656.5K | 0.01% | 00.0% | Unchanged |
| Sequoia Financial Advisors, LLC | 2,960 | $643.2K | 0.00% | +1,899+179.0% | Added |
| Keeler Thomas Management LLC | 2,942 | $639.3K | 0.30% | −1,421−32.6% | Reduced |
| Pacer Advisors, Inc. | 2,884 | $626.7K | 0.00% | −1,746−37.7% | Reduced |
| Mackenzie Financial Corp | 2,860 | $622.3K | 0.00% | −642−18.3% | Reduced |
| Sepio Capital, LP | 2,847 | $618.7K | 0.03% | −1,160−28.9% | Reduced |
| Toroso Investments, LLC | 2,835 | $614.7K | 0.00% | +373+15.2% | Added |
| Two Sigma Securities, LLC | 2,725 | $592.2K | 0.08% | +1,575+137.0% | Added |
| Syon Capital LLC | 2,704 | $587.6K | 0.03% | +1,677+163.3% | Added |
| Public Employees Retirement Association of Colorado | 2,604 | $566.0K | 0.00% | 00.0% | Unchanged |
| Brevan Howard Capital Management LP | 2,529 | $549.6K | 0.01% | −13,775−84.5% | Reduced |
| Quest Partners LLC | 2,458 | $534.1K | 0.03% | −892−26.6% | Reduced |
| Axq Capital, LP | 2,436 | $529.4K | 0.12% | +2,436 | New |
| Gibbs Wealth Management | 2,434 | $527.8K | 0.13% | −728−23.0% | Reduced |
| EntryPoint Capital, LLC | 2,387 | $518.7K | 0.20% | 00.0% | Unchanged |
| Blair William & Co | 2,384 | $518.1K | 0.00% | −301−11.2% | Reduced |
| Sanctuary Advisors, LLC | 2,378 | $516.8K | 0.00% | +634+36.4% | Added |
| Planning Alternatives Ltd | 2,358 | $512.4K | 0.06% | −34−1.4% | Reduced |
| denkapparat Operations GmbH | 2,356 | $512.0K | 0.28% | +1,250+113.0% | Added |
| CSS LLC | 2,320 | $504.2K | 0.03% | +2,320 | New |
| RMB Capital Management, LLC | 2,307 | $501.3K | 0.01% | +2,307 | New |
| Atria Investments LLC | 2,297 | $499.2K | 0.01% | −439−16.0% | Reduced |
| Commerce Bank | 2,296 | $498.9K | 0.00% | −7,748−77.1% | Reduced |
| CenterBook Partners LP | 2,289 | $497.4K | 0.02% | −2,443−51.6% | Reduced |
| Integrated Quantitative Investments LLC | 2,285 | $496.6K | 0.11% | +2,285 | New |
| Alliance Wealth Advisors, LLC | 2,246 | $488.1K | 0.11% | −2,222−49.7% | Reduced |
| AdvisorShares Investments LLC | 2,220 | $482.4K | 0.08% | +2,220 | New |
| Brown Advisory Inc | 2,217 | $481.9K | 0.00% | +2,217 | New |
| Chicago Partners Investment Group LLC | 2,283 | $481.5K | 0.01% | +1,172+105.5% | Added |
| Deutsche Bank AG | 2,210 | $480.3K | 0.00% | −284−11.4% | Reduced |
| New York Life Investment Management LLC | 2,209 | $480.0K | 0.00% | +2,209 | New |
| Aaron Wealth Advisors | 2,202 | $478.5K | 0.03% | +2,202 | New |
| AlphaGrep UK Ltd | 2,199 | $477.9K | 0.16% | +2,199 | New |
| Pallas Capital Advisors LLC | 2,183 | $474.4K | 0.02% | +2,183 | New |
| Buckingham Strategic Partners | 2,168 | $471.1K | 0.01% | +917+73.3% | Added |
| Harbor Capital Advisors, Inc. | 2,140 | $465.0K | 0.04% | +411+23.8% | Added |
| Krilogy Financial LLC | 2,174 | $459.2K | 0.02% | −136−5.9% | Reduced |
| Index Fund Advisors, Inc. | 2,059 | $447.4K | 0.02% | −2−0.1% | Reduced |
| Frank, Rimerman Advisors LLC | 1,975 | $429.2K | 0.03% | +1,975 | New |
| Federation des caisses Desjardins du Quebec | 1,929 | $419.2K | 0.00% | +239+14.1% | Added |
| Pinebridge Investments LLC | 1,922 | $417.7K | 0.00% | +1,922 | New |
| Norden Group LLC | 1,922 | $417.6K | 0.04% | −2,454−56.1% | Reduced |
| Federated Hermes, Inc. | 1,918 | $416.8K | 0.00% | −267−12.2% | Reduced |
| Portside Wealth Group, LLC | 1,909 | $414.8K | 0.06% | −1,830−48.9% | Reduced |
| Amica Mutual Insurance Co | 1,904 | $414.0K | 0.04% | +974+104.7% | Added |
| Spectrum Asset Management, Inc. (NB/CA) | 1,819 | $395.3K | 0.13% | +4+0.2% | Added |
| Commonwealth Equity Services, LLC | 1,805 | $392.2K | 0.00% | −17,927−90.9% | Reduced |
| Procyon Private Wealth Partners, LLC | 1,792 | $389.4K | 0.02% | 00.0% | Unchanged |
| Kestra Advisory Services, LLC | 1,792 | $389.4K | 0.00% | +586+48.6% | Added |
| Fieldview Capital Management, LLC | 1,784 | $387.7K | 0.07% | +1,784 | New |
| American Century Companies Inc | 1,766 | $383.8K | 0.00% | −18,571−91.3% | Reduced |
| CIBC Private Wealth Group, LLC | 1,738 | $377.7K | 0.00% | −2,379−57.8% | Reduced |
| Securian Asset Management, Inc | 1,732 | $376.4K | 0.01% | −100−5.5% | Reduced |
| O'Shaughnessy Asset Management, LLC | 1,724 | $374.6K | 0.00% | −428−19.9% | Reduced |
| Principal Securities, Inc. | 1,708 | $371.2K | 0.01% | +659+62.8% | Added |
| Personal Cfo Solutions, LLC | 1,704 | $370.3K | 0.06% | +804+89.3% | Added |
| Diversify Advisory Services, LLC | 1,728 | $369.6K | 0.01% | +87+5.3% | Added |
| Andina Capital Management, LLC | 1,662 | $361.2K | 0.22% | +62+3.9% | Added |
| J.W. Cole Advisors, Inc. | 1,645 | $357.5K | 0.01% | −245−13.0% | Reduced |
| Ballentine Partners, LLC | 1,636 | $355.5K | 0.00% | −296−15.3% | Reduced |
| Baker Avenue Asset Management, LP | 1,621 | $352.3K | 0.01% | +1,621 | New |
| Franklin Resources Inc | 1,564 | $339.9K | 0.00% | −17−1.1% | Reduced |
| AlphaCore Capital LLC | 1,535 | $333.6K | 0.01% | +1,535 | New |
| Dempze Nancy E | 1,494 | $324.7K | 0.17% | 00.0% | Unchanged |
| Legato Capital Management LLC | 1,485 | $322.7K | 0.03% | +1,485 | New |
| Azzad Asset Management Inc | 1,473 | $320.1K | 0.03% | +1,473 | New |
| Connable Office Inc | 1,470 | $319.4K | 0.03% | 00.0% | Unchanged |
| Sivia Capital Partners, LLC | 1,469 | $319.2K | 0.06% | +1,469 | New |
| Inscription Capital, LLC | 1,451 | $315.3K | 0.03% | +1,451 | New |
| Parallel Advisors, LLC | 1,427 | $310.1K | 0.01% | +377+35.9% | Added |
| Verdence Capital Advisors LLC | 1,423 | $309.3K | 0.02% | +54+3.9% | Added |
| Altfest L J & Co Inc | 1,423 | $309.2K | 0.03% | +1,423 | New |
| Wiley Bros.-Aintree Capital, LLC | 1,401 | $307.4K | 0.00% | −1,771−55.8% | Reduced |