What smart money is saying about Morningstar, Inc.
MORN
No fund has written a full thesis on Morningstar, Inc. in our archive, but 5 fund letters report a position in it — most recently Baron First Principles ETF in June 2026.
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5
Reported positions
1
Bought
0
Sold
7
Letters
Position history
Every position in Morningstar, Inc. on record in the archive was reported in Q2 2026, across 5 fund letters — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 5 | 1 | 0 | 0 |
Fund activity · 5 positions · 1 move
- June 2026
Listed in Baron First Principles ETF’s reported holdings.
Morningstar, Inc. - June 2026
“As a result, this past quarter we began to see companies allocating capital towards accelerated share repurchases such as at Verisk Analytics, Inc. and Birkenstock Holding plc with others accelerating their public market quarterly share repurchases such as at Las Vegas Sands Corporation , Gartner, Inc. , FactSet Research Systems Inc. , Morningstar, Inc. , and Arch Capital Group Ltd . When we see these purchases, it gives us further confidence in our investment theses for these growth businesses and reinforces our belief that valuations remain attractive. As a result, during the quarter we increased our positions in many of these stocks.”
Morningstar, Inc. - HoldsBaron Partners FundJune 2026
“We continue to view Morningstar as a collection of high-quality, hard-to-replicate data businesses.”
Morningstar, Inc. - HoldsBaron Partners FundJune 2026
“Morningstar, Inc. is a leading provider of independent investment research, data, and analytics serving financial advisors, asset managers, and individual investors globally. The shares declined 9.79% in the quarter amid continued investor concerns that generative AI could disrupt the company's data and research businesses. Those concerns compressed valuation multiples across information services companies and weighed on the stock, even as Morningstar's core franchises continued to post healthy results. Organic revenue grew 8% and adjusted EBIT grew 18% over the last 12 months. We continue to view Morningstar as a collection of high-quality, hard-to-replicate data businesses.”
Morningstar, Inc. - HoldsBaron CapitalJune 2026
“Morningstar, Inc. is a leading provider of independent investment research, data, and analytics serving financial advisors, asset managers, and individual investors globally.”
Morningstar, Inc.
Also mentioned · 2
These funds discuss Morningstar, Inc. — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedGrandeur Peak FundsJune 2026
“Exhibit 2 Source: Morningstar Direct, 6/30/2026”
Morningstar, Inc. - March 2026
“In addition to reaching out to industry experts, we had the eye-opening experience of moving our own performance reporting software from one vendor, Morningstar, to another, Advyzon, over the past few months. We used Morningstar since the inception of our firm to provide us with analytics on our portfolio, and as a service for clients to do the same for their own accounts. It was not 3 integrated into my daily workflow, meaning I had to connect to Morningstar to run reports. This is the easiest kind of software to replace: a specific tool that is segregated from our operating system. In 2025, Morningstar announced it would exit the performance reporting business, forcing us to find a new provider.”
Morningstar, Inc.
Read the letters behind these Morningstar, Inc. positions
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