Morningstar Ownership | Who Owns Morningstar?

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Morningstar Ownership Summary

Morningstar is owned by 57.38% institutional investors, 45.41% insiders. Vanguard group is the largest institutional shareholder, holding 6.14% of MORN shares. Eaton Vance Atlanta Capital SMID-Cap I is the top mutual fund, with 3.35% of its assets in Morningstar shares.

MORN Ownership Benchmark

Type	Name	% Inst	% Insiders	% Retail
Stock	Morningstar	57.38%	45.41%	-2.80%
Sector	Financial Services Stocks	36.95%	15.48%	47.58%
Industry	Financial Data & Stock Exchanges Stocks	53.77%	16.18%	30.05%

Institutional Shareholders

Top Institutional Shareholders by Total Shares

Holder	Shares	% Holding	Value
Vanguard group	2.61M	6.14%	$605.62M
Blackrock	2.54M	5.94%	$750.47M
Blackrock funding, inc. /de	2.39M	5.63%	$555.62M
Select equity group	2.10M	4.95%	$488.08M
Morgan stanley	1.96M	4.61%	$454.50M
Bank of america corp /de/	1.53M	3.58%	$451.64M
Bamco inc /ny/	1.41M	3.33%	$328.13M
Kayne anderson rudnick investment management	765.46K	1.80%	$177.60M
State street	763.22K	1.80%	$177.08M
Geode capital management	615.79K	1.45%	$142.89M

Top Institutional Shareholders by % of Total Assets

Holder	Shares	% Assets	Value
Incline global management	66.98K	4.61%	$15.54M
Touchstone capital	26.23K	3.12%	$6.09M
Sea cliff partners management, lp	26.00K	2.31%	$6.03M
Gallo partners, lp	13.33K	2.31%	$3.09M
Select equity group	2.10M	2.01%	$488.08M
Cooper investors pty	30.98K	1.96%	$7.19M
Liontrust investment partners llp	333.63K	1.63%	$112.35M
Kensington investment counsel	10.68K	1.50%	$3.60M
Barlow wealth partners	57.48K	1.41%	$12.64M
Bradyco	4.86K	1.28%	$1.13M

Top Buyers

Holder	Shares	% Assets	Change
Select equity group	2.10M	2.01%	990.40K
Norges bank	331.67K	0.01%	331.67K
Renaissance	460.77K	0.14%	195.60K
Voloridge investment management	187.13K	0.15%	146.69K
Two sigma investments, lp	286.18K	0.10%	125.51K

Top Sellers

Holder	Shares	% Assets	Change
Goldman sachs group	98.46K	0.00%	-279.03K
Wasatch advisors lp	371.88K	0.46%	-272.92K
Allspring global investments	-	-	-212.17K
Millennium management	287.66K	0.05%	-207.45K
Massachusetts financial services co /ma/	451.24K	0.03%	-188.89K

New Positions

Holder	Shares	% Assets	Change	Value
Norges bank	331.67K	0.01%	331.67K	$111.69M
Incline global management	66.98K	4.61%	66.98K	$15.54M
Touchstone capital	26.23K	3.12%	26.23K	$6.09M
Annandale capital	20.08K	0.79%	20.08K	$46.60M
Connor, clark & lunn investment management	17.68K	0.01%	17.68K	$4.10B

Sold Out

Holder	Change
Tfc financial management	-1.00
Claris advisors, llc / mo /	-1.00
American capital advisory	-1.00
Quaker wealth management	-1.00
Twin peaks wealth advisors	-1.00

Institutional Ownership Trends

Date	Holdings	Change %	Shares	Change %	Ownership	Change %	Increased Position	Change %	Decreased Position	Change %
Sep 30, 2025	439	-8.16%	24,387,254	-4.95%	57	1.57%	207	-16.53%	172	10.26%
Jun 30, 2025	474	2.16%	25,619,652	2.87%	60	1.78%	246	-2.38%	156	17.29%
Mar 31, 2025	462	2.67%	24,906,751	-3.22%	58	1.62%	252	10.53%	134	-7.59%
Dec 31, 2024	423	2.92%	24,769,169	-2.98%	57	1.63%	212	-2.75%	140	33.33%
Sep 30, 2024	406	2.53%	25,490,565	-1.30%	59	1.63%	217	20.56%	102	-29.66%

Top Mutual Funds Shareholders

Holder	Shares	% Holding	Change
Eaton Vance Atlanta Capital SMID-Cap I	1.41M	3.35%	-112.14K
Baron Growth Retail	920.00K	2.18%	-
Baron Small Cap Growth Strategy	920.00K	2.18%	-
iShares Core S&P Mid-Cap ETF	866.38K	2.05%	-
Vanguard US Total Market Shares ETF	877.50K	2.05%	559.00
Vanguard Total Stock Mkt Idx Inv	796.25K	1.89%	-19.59K
Vanguard Small Cap Index	615.17K	1.46%	-4.11K
Virtus KAR Small-Cap Growth I	524.51K	1.24%	-45.78K
MFS Mid Cap Growth Equity	453.80K	1.08%	-175.73K
Vanguard Explorer Inv	373.40K	0.89%	12.33K

Recent Insider Transactions

Date	Name	Role	Activity	Value
Nov 25, 2025	Mansueto Joseph D	Executive Chairman	Sell	$102.33K
Nov 25, 2025	Mansueto Joseph D	Executive Chairman	Sell	$121.83K
Nov 24, 2025	Mansueto Joseph D	Executive Chairman	Sell	$66.99K
Nov 25, 2025	Mansueto Joseph D	Executive Chairman	Sell	$33.17K
Nov 25, 2025	Mansueto Joseph D	Executive Chairman	Sell	$16.73K

Insider Transactions Trends

Date	Buy	Sell
2025 Q4	-	49
2025 Q3	-	57
2025 Q2	-	65
2025 Q1	-	83
2024 Q4	-	89

MORN Ownership FAQ

Who Owns Morningstar?

Morningstar shareholders are primarily institutional investors at 57.38%, followed by 45.41% insiders and -2.79% retail investors. The average institutional ownership in Morningstar's industry, Financial Data & Stock Exchanges Stocks, is 53.77%, which Morningstar exceeds.

Who owns the most shares of Morningstar?

Morningstar’s largest shareholders are Vanguard group (2.61M shares, 6.14%), Blackrock (2.54M shares, 5.94%), and Blackrock funding, inc. /de (2.39M shares, 5.63%). Together, they hold 17.72% of Morningstar’s total shares outstanding.

Does Blackrock own Morningstar?

Yes, BlackRock owns 5.94% of Morningstar, totaling 2.54M shares as of Jun 2024. This represents 0.02% of BlackRock's total assets, with a market value of 750.47M$. In the last quarter, BlackRock increased its holdings by 89.44K shares, a 3.65% change.

Who is Morningstar’s biggest shareholder by percentage of total assets invested?

Incline global management is Morningstar’s biggest shareholder by percentage of total assets invested, with 4.61% of its assets in 66.98K Morningstar shares, valued at 15.54M$.

Who is the top mutual fund holder of Morningstar shares?

Eaton Vance Atlanta Capital SMID-Cap I is the top mutual fund holder of Morningstar shares, with 3.35% of its total shares outstanding invested in 1.41M Morningstar shares.

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