Morningstar: Joseph D. Mansueto reports 39.4% stake

Available on EDGAR 11/12/2026 - 04:17 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:16 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Morningstar, Inc. (MORN) is the issuer of the common stock for which Joseph D. Mansueto reported beneficial ownership of 14,604,459 shares, or 39.4% of the class, as of September 30, 2026. He reported sole voting power over 11,014,139 shares and shared voting power over 394,272 shares, along with sole power to dispose of 14,210,187 shares and shared power to dispose of 394,272 shares.

Key Figures

Beneficial ownership: 14,604,459 shares Percent of class beneficially owned: 39.4% Sole voting power: 11,014,139 shares +3 more

6 metrics

Beneficial ownership 14,604,459 shares As of September 30, 2026

Percent of class beneficially owned 39.4% As of September 30, 2026

Sole voting power 11,014,139 shares As of September 30, 2026

Shared voting power 394,272 shares As of September 30, 2026

Sole power to dispose 14,210,187 shares As of September 30, 2026

Shared power to dispose 394,272 shares As of September 30, 2026

Key Terms

beneficially owned, sole voting power, shared voting power, sole dispositive power, +1 more

5 terms

beneficially owned regulatory

"Amount beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power regulatory

"Sole power to vote or to direct the vote"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

shared voting power regulatory

"Shared power to vote or to direct the vote"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

shared dispositive power regulatory

"Shared power to dispose or to direct the disposition of"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MORN shares did Joseph D. Mansueto report owning?

Joseph D. Mansueto reported beneficial ownership of 14,604,459 Morningstar common shares, or 39.4% of the class, as of September 30, 2026.

What voting and disposition powers did Joseph D. Mansueto report for MORN?

He reported sole voting power over 11,014,139 shares and shared voting power over 394,272 shares; sole power to dispose of 14,210,187 shares and shared power to dispose of 394,272 shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 24)

Morningstar, Inc.

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

617700109

(CUSIP Number)

09/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 617700109

1

Names of Reporting Persons

Joseph D. Mansueto

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,014,139.00
6	Shared Voting Power 394,272.00
7	Sole Dispositive Power 14,210,187.00
8	Shared Dispositive Power 394,272.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,604,459.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

39.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Morningstar, Inc.
(b)	Address of issuer's principal executive offices: 22 West Washington Street, Chicago, IL 60602
Item 2.
(a)	Name of person filing: Joseph D. Mansueto
(b)	Address or principal business office or, if none, residence: 22 West Washington Street Chicago, IL 60602
(c)	Citizenship: U.S.A.
(d)	Title of class of securities: Common Stock, no par value
(e)	CUSIP No.: 617700109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 14,604,459
(b)	Percent of class: 39.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,014,139
	(ii) Shared power to vote or to direct the vote: 394,272
	(iii) Sole power to dispose or to direct the disposition of: 14,210,187
	(iv) Shared power to dispose or to direct the disposition of: 394,272
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Joseph D. Mansueto

Signature:	/s/ Joseph D. Mansueto
Name/Title:	Joseph D. Mansueto
Date:	11/12/2026