Morningstar, Inc.
US ˙ NasdaqGS ˙ US6177001095

SecurityMORN / Morningstar, Inc.
InstitutionDf Dent & Co Inc
Latest Disclosed Ownership102,371 shares
Latest Disclosed Value $ 17,305,809
Df Dent & Co Inc reports 29.69% decrease in ownership of MORN / Morningstar, Inc.

On May 15, 2026 - Df Dent & Co Inc filed a 13F-HR form disclosing ownership of 102,371 shares of Morningstar, Inc. (US:MORN) valued at $17,305,818 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 145,591 shares of Morningstar, Inc.. This represents a change in shares of -29.69% during the quarter. The current value of the position is $18,501,511 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 MORNINGSTAR COM 617700109 102,371 -43,220 -29.69 17,306 -45.30 0.3314
2026-02-17 2025-12-31 13F MORNINGSTAR COM 617700109 145,591 -53,994 -27.05 31,638 -31.67 0.4554
2025-11-14 2025-09-30 13F MORNINGSTAR COM 617700109 199,585 112,573 129.38 46,306 69.52 0.5982
2025-08-14 2025-06-30 13F MORNINGSTAR COM 617700109 87,012 4,049 4.88 27,316 9.80 0.3466
2025-05-15 2025-03-31 13F MORNINGSTAR COM 617700109 82,963 -2,715 -3.17 24,878 -13.78 0.3322
2025-02-12 2024-12-31 13F MORNINGSTAR COM 617700109 85,678 -2,700 -3.06 28,853 2.30 0.3653
2024-11-15 2024-09-30 13F MORNINGSTAR COM 617700109 88,378 33,595 61.32 28,203 74.02 0.3430
2024-08-14 2024-06-30 13F MORNINGSTAR COM 617700109 54,783 7,614 16.14 16,208 11.43 0.2095
2024-05-15 2024-03-31 13F MORNINGSTAR COM 617700109 47,169 -260 -0.55 14,545 7.14 0.1775
2024-02-14 2023-12-31 13F MORNINGSTAR COM 617700109 47,429 1,366 2.97 13,576 25.83 0.1799
2023-11-14 2023-09-30 13F MORNINGSTAR COM 617700109 46,063 46,063 10,790 0.1581
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.