Morningstar Investment Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Morningstar Investment Management LLC reported 200 stock positions worth $922.2 million. Its top holding was iShares US Treasury Bond ETF (GOVT) at 18.5% of the portfolio, followed by Vanguard Consumer Staple ETF (VDC, 9.1%) and Vanguard Health Care ETF (VHT, 8.0%). Compared with Q4 2023, it opened 10 new positions, sold out of 8, added to 14 and reduced 26. The biggest buy was Vanguard Consumer Staple ETF (VDC, shares +94%) and the biggest sale Schwab Short-Term US Treas (SCHO, shares −20%).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001673385
Portfolio Value
$922.2M (Q1 2024)
SEC Filing
0001104659-24-060339 ↗ filed May 13, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $922.2M $922.2M Q1 2024 Q2 2024: $957.0M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $2.7B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.6B Q2 2026

Holdings 200 stocks · $922.2M
GOVT iShares US Treasury Bond ETF 18.51% 7,496,170 $170.7M Add +19.3%
VDC Vanguard Consumer Staple ETF 9.06% 409,306 $83.6M Add +93.6%
VHT Vanguard Health Care ETF 7.96% 271,531 $73.5M Reduce -20.7%
SCHO Schwab Short-Term US Treas 7.93% 1,517,077 $73.1M Reduce -20.2%
VTI VG Morningstar TS MKT ETF-US 6.43% 228,155 $59.3M Add +5.3%
GOOGL Alphabet Inc. Class A 5.68% 347,159 $52.4M Reduce -15.2%
XLB SS Materials Select Sector 3.21% 318,769 $29.6M No change
META Meta Platforms Inc. Class A 2.90% 55,018 $26.7M Reduce -20.5%
MSFT Microsoft Corp. 2.88% 63,034 $26.5M No change
AAPL Apple Inc. 2.16% 116,087 $19.9M No change
FNDE Schwab Fndmntl Em MRK Eq ETF 1.96% 650,867 $18.1M Reduce -0.9%
AMZN Amazon.com Inc. 1.81% 92,668 $16.7M No change
KXI iShares Global Consumer Stap 1.11% 168,014 $10.3M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.04% 78,405 $9.6M Reduce -18.4%
VZ Verizon Communications Inc. 1.03% 227,136 $9.5M Reduce -16.2%
EWY iShares MSCI South Korea ETF 0.99% 135,523 $9.1M No change
CMCSA Comcast Corp. Class A 0.97% 206,849 $9.0M Reduce -15.0%
EPD Enterprise Products Partners 0.67% 212,732 $6.2M No change
OKE Oneok Inc. 0.65% 74,208 $5.9M No change
WFC Wells Fargo & Co. 0.61% 97,801 $5.7M Reduce -2.6%
WMB Williams Cos Inc. 0.60% 142,442 $5.6M No change
VGLT Vanguard Long-Term Treasury 0.58% 90,083 $5.3M No change
LNG Cheniere Energy Inc. 0.58% 33,045 $5.3M No change
KMI Kinder Morgan Inc. 0.57% 288,564 $5.3M No change
NFLX Netflix Inc. 0.53% 8,059 $4.9M Reduce -15.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.53% 73,927 $4.9M Add +64.3%
XOM Exxon Mobil Corp. 0.47% 37,690 $4.4M Add +32.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.47% 115,287 $4.4M Reduce -1.5%
ET Energy Transfer LP 0.43% 250,633 $3.9M No change
JPM JPMorgan Chase & Co. 0.40% 18,631 $3.7M Add +3.8%
USB US Bancorp 0.40% 83,455 $3.7M Reduce -0.5%
VGIT Vanguard Intermediate-Term T 0.39% 61,071 $3.6M Add +127.0%
PNC PNC Financial Services Group 0.39% 22,032 $3.6M Reduce -2.0%
MS Morgan Stanley 0.37% 36,600 $3.4M No change
GS Goldman Sachs Group Inc. 0.36% 7,968 $3.3M Add +6.8%
TFC Truist Financial Corp. 0.34% 81,068 $3.2M Reduce -1.6%
C Citigroup Inc. 0.33% 48,466 $3.1M Reduce -5.2%
TMUS T-Mobile US Inc. 0.33% 18,657 $3.0M Reduce -20.3%
PBR Petroleo Brasileiro-Spon ADR 0.31% 189,709 $2.9M Add +24.4%
MTB M & T Bank Corp. filed as M & T BK CORP 0.31% 19,554 $2.8M Add +0.1%
HBAN Huntington Bancshares Inc. 0.30% 201,190 $2.8M Reduce -2.6%
TME Tencent Music Entertainm-ADR 0.30% 247,768 $2.8M No change
VTIP Vanguard Short-Term Tips 0.29% 56,437 $2.7M Reduce -30.9%
TRGP Targa Resources Corp. 0.29% 23,889 $2.7M No change
COF Capital One Financial Corp. 0.29% 17,700 $2.6M Reduce -7.1%
ETRN Equitrans Midstream Corp. 0.28% 210,260 $2.6M No change
PAA Plains All Amer Pipeline LP 0.26% 134,090 $2.4M No change
FITB Fifth Third Bancorp 0.25% 62,084 $2.3M Reduce -5.1%
PDD PDD Holdings Inc. 0.25% 19,859 $2.3M No change
CFG Citizens Financial Group 0.24% 61,675 $2.2M Reduce -3.3%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.24% 38,822 $2.2M Reduce -5.4%
NTRS Northern Trust Corp. 0.24% 24,637 $2.2M Reduce -1.6%
MPLX MPLX LP 0.22% 49,876 $2.1M No change
KO The Coca-Cola Co. 0.22% 33,276 $2.0M No change
KEY Keycorp 0.19% 113,230 $1.8M Reduce -2.9%
ABBV Abbvie Inc. 0.19% 9,666 $1.8M No change
EA Electronic Arts Inc. 0.19% 13,001 $1.7M Reduce -19.8%
MCD McDonald's Corp. 0.19% 6,089 $1.7M No change
CME Cme Group Inc. 0.18% 7,775 $1.7M No change
TCOM Trip.com Group Ltd.-ADR 0.17% 35,958 $1.6M No change
RF Regions Financial Corp. 0.17% 74,878 $1.6M Add +43.7%
PEP Pepsico Inc. 0.17% 8,952 $1.6M No change
CVX Chevron Corp. 0.17% 9,812 $1.5M Add +35.9%
AMGN Amgen Inc. 0.16% 5,243 $1.5M No change
GD General Dynamics Corp. 0.16% 5,099 $1.4M No change
MDLZ Mondelez International Inc. Class A 0.16% 20,577 $1.4M No change
KMB Kimberly-Clark Corp. 0.16% 11,126 $1.4M No change
SCHW Schwab (charles) Corp. 0.15% 18,910 $1.4M No change
WM Waste Management Inc. 0.14% 6,138 $1.3M No change
CVS CVS Health Corp. 0.14% 15,991 $1.3M No change
EMR Emerson Electric Co. 0.14% 11,012 $1.2M No change
AM Antero Midstream Corp. 0.14% 88,535 $1.2M No change
BMY Bristol-Myers Squibb Co. 0.13% 21,955 $1.2M No change
CL Colgate-Palmolive Co. 0.12% 12,705 $1.1M No change
GILD Gilead Sciences Inc. 0.12% 15,603 $1.1M No change
TXN Texas Instruments Inc. 0.12% 6,530 $1.1M No change
ICE Intercontinental Exchange Inc. 0.12% 8,213 $1.1M No change
STT State Street Corp. 0.12% 14,083 $1.1M Add +40.0%
PFE Pfizer Inc. 0.11% 37,016 $1.0M No change
AEP American Electric Power 0.11% 11,743 $1.0M No change
ORLY O'reilly Automotive Inc. 0.11% 893 $1.0M No change
MO Altria Group Inc. 0.11% 22,595 $986K No change
MDT Medtronic PLC 0.11% 11,215 $977K No change
LMT Lockheed Martin Corp. 0.11% 2,130 $969K No change
KDP Keurig Dr Pepper Inc. 0.10% 31,543 $967K No change
AZO AutoZone Inc. 0.10% 303 $955K No change
ITW Illinois Tool Works 0.10% 3,504 $940K No change
MA Mastercard Inc. Class A 0.10% 1,951 $940K No change
ETN Eaton Corp. PLC 0.10% 3,003 $939K No change
PCAR Paccar Inc. 0.10% 7,575 $938K No change
APH Amphenol Corp. Class A 0.10% 7,781 $898K No change
DUK Duke Energy Corp. 0.10% 9,192 $889K No change
AVGO Broadcom Inc. 0.10% 666 $883K No change
JNJ Johnson & Johnson 0.10% 5,552 $878K No change
ROP Roper Technologies Inc. 0.09% 1,544 $866K No change
PG The Procter & Gamble Co. 0.09% 5,303 $860K No change
HON Honeywell International Inc. 0.09% 4,099 $841K No change
CMA Comerica Inc. 0.09% 14,361 $790K Reduce -4.1%
TT Trane Technologies PLC 0.08% 2,603 $781K No change
CAT Caterpillar Inc. 0.08% 2,124 $778K No change

Show all 200 holdings

Portfolio Sells Q4 2023 → Q1 2024
SCHO Schwab Short-Term US Treas Reduce -20.2% 7.93% −2.66
VHT Vanguard Health Care ETF Reduce -20.7% 7.96% −1.90
SCHR Schwab Intermediate-Term US Sold out 0.00% −1.00
GOOGL Alphabet Inc. Class A Reduce -15.2% 5.68% −0.89
FLBR Franklin Ftse Brazil ETF Sold out 0.00% −0.33
VCSH Vanguard S/T Corp. Bond ETF Sold out 0.00% −0.32
CMCSA Comcast Corp. Class A Reduce -15.0% 0.97% −0.25
VTIP Vanguard Short-Term Tips Reduce -30.9% 0.29% −0.15
CFR Cullen/Frost Bankers Inc. Sold out 0.00% −0.15
VZ Verizon Communications Inc. Reduce -16.2% 1.03% −0.14
TMUS T-Mobile US Inc. Reduce -20.3% 0.33% −0.10
FNDE Schwab Fndmntl Em MRK Eq ETF Reduce -0.9% 1.96% −0.09
EA Electronic Arts Inc. Reduce -19.8% 0.19% −0.07
LULU Lululemon Athletica Inc. Sold out 0.00% −0.03
CHTR Charter Communications Inc. Class A Sold out 0.00% −0.03
VRSN Verisign Inc. Sold out 0.00% −0.02
XEL Xcel Energy Inc. Sold out 0.00% −0.02
PNC PNC Financial Services Group Reduce -2.0% 0.39% −0.01
USB US Bancorp Reduce -0.5% 0.40% −0.01
CMA Comerica Inc. Reduce -4.1% 0.09% −0.01
FITB Fifth Third Bancorp Reduce -5.1% 0.25% −0.01
TFC Truist Financial Corp. Reduce -1.6% 0.34% −0.01
NTRS Northern Trust Corp. Reduce -1.6% 0.24% −0.01
NFLX Netflix Inc. Reduce -15.5% 0.53% −0.00
BNY Bank of New York Mellon Corp. Reduce -5.4% 0.24% −0.00
COF Capital One Financial Corp. Reduce -7.1% 0.29% −0.00
CFG Citizens Financial Group Reduce -3.3% 0.24% −0.00
KEY Keycorp Reduce -2.9% 0.19% +0.00
HBAN Huntington Bancshares Inc. Reduce -2.6% 0.30% +0.00
BAC Bank of America Corp. Reduce -1.5% 0.47% +0.02
C Citigroup Inc. Reduce -5.2% 0.33% +0.03
DIS The Walt Disney Co. Reduce -18.4% 1.04% +0.04
WFC Wells Fargo & Co. Reduce -2.6% 0.61% +0.05
META Meta Platforms Inc. Class A Reduce -20.5% 2.90% +0.08

Portfolio Buys Q4 2023 → Q1 2024
VDC Vanguard Consumer Staple ETF Add +93.6% 9.06% +4.42
GOVT iShares US Treasury Bond ETF Add +19.3% 18.51% +1.88
VTI VG Morningstar TS MKT ETF-US Add +5.3% 6.43% +0.52
VGIT Vanguard Intermediate-Term T Add +127.0% 0.39% +0.20
XLU St Sr Utl SL SE SPDR ETF-Usd Add +64.3% 0.53% +0.20
XOM Exxon Mobil Corp. Add +32.2% 0.47% +0.15
MMM 3M Co. New 0.06% +0.06
RF Regions Financial Corp. Add +43.7% 0.17% +0.05
JPM JPMorgan Chase & Co. Add +3.8% 0.40% +0.05
CVX Chevron Corp. Add +35.9% 0.17% +0.04
PBR Petroleo Brasileiro-Spon ADR Add +24.4% 0.31% +0.03
GS Goldman Sachs Group Inc. Add +6.8% 0.36% +0.03
STT State Street Corp. Add +40.0% 0.12% +0.03
EME Emcor Group Inc. New 0.03% +0.03
CMI Cummins Inc. New 0.03% +0.03
TGT Target Corp. New 0.03% +0.03
FAST Fastenal Co. New 0.03% +0.03
DOV Dover Corp. New 0.02% +0.02
JNPR Juniper Networks Inc. New 0.02% +0.02
TOL Toll Brothers Inc. New 0.02% +0.02
OMC Omnicom Group New 0.02% +0.02
PKG Packaging Corp. of America New 0.02% +0.02
EC Ecopetrol SA-Sponsored ADR Add +31.0% 0.03% +0.01
MTB M & T Bank Corp. Add +0.1% 0.31% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 317$1.6BGOVT, MSFT, VTI, AAPL, GOOGL
Q1 2026 315$1.6BGOVT, MSFT, VTI, AAPL, GOOGL
Q4 2025 327$1.7BGOVT, VTI, AAPL, MSFT, GOOGL
Q3 2025 463$2.7BGOVT, NVDA, MSFT, AAPL, VTI
Q2 2025 205$1.1BGOVT, VHT, VTI, MSFT, GOOGL
Q1 2025 71$1.2BGOVT, VMBS, VHT, VDC, VCIT
Q4 2024 212$1.3BGOVT, VMBS, VDC, VTI, VHT
Q3 2024 214$1.0BGOVT, VDC, VTI, VHT, GOOGL
Q2 2024 195$957.0MGOVT, VDC, VHT, VTI, GOOGL
Q1 2024 200$922.2MGOVT, VDC, VHT, SCHO, VTI