Morningstar Investment Management LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Morningstar Investment Management LLC reported 195 stock positions worth $957.0 million. Its top holding was iShares US Treasury Bond ETF (GOVT) at 20.6% of the portfolio, followed by Vanguard Consumer Staple ETF (VDC, 8.5%) and Vanguard Health Care ETF (VHT, 7.6%). Compared with Q1 2024, it opened 5 new positions, sold out of 10, added to 19 and reduced 63. The biggest buy was iShares US Treasury Bond ETF (GOVT, shares +16%) and the biggest sale SS Materials Select Sector (XLB, shares −84%).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001673385
Portfolio Value
$957.0M (Q2 2024)
SEC Filing
0001104659-24-087093 ↗ filed Aug 8, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $922.2M Q1 2024 Q2 2024: $957.0M $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 195 stocks · $957.0M
GOVT iShares US Treasury Bond ETF 20.56% 8,717,729 $196.8M Add +16.3%
VDC Vanguard Consumer Staple ETF 8.54% 402,557 $81.7M Reduce -1.6%
VHT Vanguard Health Care ETF 7.60% 273,439 $72.7M Add +0.7%
VTI VG Morningstar TS MKT ETF-US 6.54% 234,017 $62.6M Add +2.6%
GOOGL Alphabet Inc. Class A 6.15% 322,941 $58.8M Reduce -7.0%
SCHO Schwab Short-Term US Treas 5.92% 1,177,008 $56.6M Reduce -22.4%
MSFT Microsoft Corp. 3.48% 74,620 $33.4M Add +18.4%
AAPL Apple Inc. 3.22% 146,315 $30.8M Add +26.0%
META Meta Platforms Inc. Class A 2.70% 51,333 $25.9M Reduce -6.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 2.25% 316,659 $21.6M Add +328.3%
FNDE Schwab Fndmntl Em MRK Eq ETF 1.96% 633,451 $18.7M Reduce -2.7%
NVDA Nvidia Corp. 1.75% 135,550 $16.7M Add +2594.8%
KXI iShares Global Consumer Stap 1.11% 176,434 $10.6M Add +5.0%
FLSW Franklin Ftse Switzerland 1.10% 317,703 $10.6M New
AMZN Amazon.com Inc. 1.01% 49,811 $9.6M Reduce -46.3%
EWY iShares MSCI South Korea ETF 0.94% 135,523 $9.0M No change
VZ Verizon Communications Inc. 0.92% 212,905 $8.8M Reduce -6.3%
CMCSA Comcast Corp. Class A 0.92% 223,857 $8.8M Add +8.2%
VGLT Vanguard Long-Term Treasury 0.79% 130,973 $7.6M Add +45.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.75% 72,327 $7.2M Reduce -7.8%
MOAT Vaneck Morningstar Wide Moat 0.65% 71,730 $6.2M New
EPD Enterprise Products Partners 0.64% 211,287 $6.1M Reduce -0.7%
KMI Kinder Morgan Inc. 0.61% 293,656 $5.8M Add +1.8%
LNG Cheniere Energy Inc. 0.60% 33,045 $5.8M No change
OKE Oneok Inc. 0.56% 66,008 $5.4M Reduce -11.1%
NFLX Netflix Inc. 0.56% 7,894 $5.3M Reduce -2.0%
WMB Williams Cos Inc. 0.55% 124,021 $5.3M Reduce -12.9%
WFC Wells Fargo & Co. 0.47% 76,128 $4.5M Reduce -22.2%
XLB SS Materials Select Sector 0.47% 50,763 $4.5M Reduce -84.1%
XOM Exxon Mobil Corp. 0.44% 36,747 $4.2M Reduce -2.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.41% 99,650 $4.0M Reduce -13.6%
VGIT Vanguard Intermediate-Term T 0.40% 66,246 $3.9M Add +8.5%
ET Energy Transfer LP 0.38% 223,302 $3.6M Reduce -10.9%
JPM JPMorgan Chase & Co. 0.34% 15,944 $3.2M Reduce -14.4%
PNC PNC Financial Services Group 0.33% 20,354 $3.2M Reduce -7.6%
USB US Bancorp 0.33% 78,744 $3.1M Reduce -5.6%
GS Goldman Sachs Group Inc. 0.32% 6,845 $3.1M Reduce -14.1%
TMUS T-Mobile US Inc. 0.32% 17,366 $3.1M Reduce -6.9%
MS Morgan Stanley 0.32% 31,216 $3.0M Reduce -14.7%
TFC Truist Financial Corp. 0.29% 72,246 $2.8M Reduce -10.9%
VTIP Vanguard Short-Term Tips 0.29% 56,437 $2.7M No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.28% 17,648 $2.7M Reduce -9.8%
TRGP Targa Resources Corp. 0.26% 19,672 $2.5M Reduce -17.6%
C Citigroup Inc. 0.26% 38,810 $2.5M Reduce -19.9%
PBR Petroleo Brasileiro-Spon ADR 0.25% 161,919 $2.3M Reduce -14.7%
HBAN Huntington Bancshares Inc. 0.24% 175,233 $2.3M Reduce -12.9%
ETRN Equitrans Midstream Corp. 0.23% 172,183 $2.2M Reduce -18.1%
MPLX MPLX LP 0.22% 49,876 $2.1M No change
COF Capital One Financial Corp. 0.22% 15,217 $2.1M Reduce -14.0%
PAA Plains All Amer Pipeline LP 0.22% 117,053 $2.1M Reduce -12.7%
KO The Coca-Cola Co. 0.21% 32,316 $2.1M Reduce -2.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.21% 33,863 $2.0M Reduce -12.8%
TME Tencent Music Entertainm-ADR 0.21% 143,468 $2.0M Reduce -42.1%
PDD PDD Holdings Inc. 0.21% 15,016 $2.0M Reduce -24.4%
CFG Citizens Financial Group 0.20% 54,300 $2.0M Reduce -12.0%
NTRS Northern Trust Corp. 0.20% 22,922 $1.9M Reduce -7.0%
FITB Fifth Third Bancorp 0.20% 51,321 $1.9M Reduce -17.3%
CVX Chevron Corp. 0.18% 11,079 $1.7M Add +12.9%
EA Electronic Arts Inc. 0.17% 11,997 $1.7M Reduce -7.7%
MCD McDonald's Corp. 0.17% 6,342 $1.6M Add +4.2%
AMGN Amgen Inc. 0.16% 5,031 $1.6M Reduce -4.0%
CME Cme Group Inc. 0.16% 7,775 $1.5M No change
KMB Kimberly-Clark Corp. 0.16% 10,781 $1.5M Reduce -3.1%
GD General Dynamics Corp. 0.15% 5,099 $1.5M No change
PEP Pepsico Inc. 0.15% 8,952 $1.5M No change
ABBV Abbvie Inc. 0.15% 8,595 $1.5M Reduce -11.1%
KEY Keycorp 0.14% 97,594 $1.4M Reduce -13.8%
RF Regions Financial Corp. 0.14% 67,555 $1.4M Reduce -9.8%
MDLZ Mondelez International Inc. Class A 0.14% 20,577 $1.3M No change
WM Waste Management Inc. 0.14% 6,138 $1.3M No change
CL Colgate-Palmolive Co. 0.13% 12,705 $1.2M No change
SCHW Schwab (charles) Corp. 0.12% 15,783 $1.2M Reduce -16.5%
ICE Intercontinental Exchange Inc. 0.12% 8,213 $1.1M No change
EMR Emerson Electric Co. 0.12% 10,183 $1.1M Reduce -7.5%
AM Antero Midstream Corp. 0.12% 75,129 $1.1M Reduce -15.1%
GILD Gilead Sciences Inc. 0.11% 15,603 $1.1M No change
PFE Pfizer Inc. 0.11% 38,186 $1.1M Add +3.2%
KDP Keurig Dr Pepper Inc. 0.11% 31,543 $1.1M No change
TXN Texas Instruments Inc. 0.11% 5,394 $1.0M Reduce -17.4%
APH Amphenol Corp. Class A 0.11% 15,562 $1.0M No change
MO Altria Group Inc. 0.11% 22,595 $1.0M No change
LMT Lockheed Martin Corp. 0.10% 2,130 $995K No change
AEP American Electric Power 0.10% 11,183 $981K Reduce -4.8%
STT State Street Corp. 0.10% 12,920 $956K Reduce -8.3%
CVS CVS Health Corp. 0.10% 15,991 $944K No change
ORLY O'reilly Automotive Inc. 0.10% 893 $943K No change
BMY Bristol-Myers Squibb Co. 0.10% 22,671 $942K Add +3.3%
ETN Eaton Corp. PLC 0.10% 3,003 $942K No change
DUK Duke Energy Corp. 0.10% 9,192 $921K No change
AZO AutoZone Inc. 0.09% 303 $898K No change
MDT Medtronic PLC 0.09% 11,215 $883K No change
HON Honeywell International Inc. 0.09% 4,099 $875K No change
ROP Roper Technologies Inc. 0.09% 1,544 $870K No change
MA Mastercard Inc. Class A 0.09% 1,951 $861K No change
TT Trane Technologies PLC 0.09% 2,603 $856K No change
SO The Southern Co. 0.08% 10,487 $813K No change
JNJ Johnson & Johnson 0.08% 5,552 $811K No change
ITW Illinois Tool Works 0.08% 3,337 $791K Reduce -4.8%
CCI Crown Castle Inc. 0.08% 8,080 $789K Add +12.8%
PCAR Paccar Inc. 0.08% 7,575 $780K No change

Show all 195 holdings

Portfolio Sells Q1 2024 → Q2 2024
XLB SS Materials Select Sector Reduce -84.1% 0.47% −2.74
SCHO Schwab Short-Term US Treas Reduce -22.4% 5.92% −2.01
AMZN Amazon.com Inc. Reduce -46.3% 1.01% −0.81
VDC Vanguard Consumer Staple ETF Reduce -1.6% 8.54% −0.52
DIS The Walt Disney Co. Reduce -7.8% 0.75% −0.29
META Meta Platforms Inc. Class A Reduce -6.7% 2.70% −0.19
TCOM Trip.com Group Ltd.-ADR Sold out 0.00% −0.17
WFC Wells Fargo & Co. Reduce -22.2% 0.47% −0.14
VZ Verizon Communications Inc. Reduce -6.3% 0.92% −0.12
TME Tencent Music Entertainm-ADR Reduce -42.1% 0.21% −0.09
OKE Oneok Inc. Reduce -11.1% 0.56% −0.08
USB US Bancorp Reduce -5.6% 0.33% −0.08
C Citigroup Inc. Reduce -19.9% 0.26% −0.07
JPM JPMorgan Chase & Co. Reduce -14.4% 0.34% −0.07
PBR Petroleo Brasileiro-Spon ADR Reduce -14.7% 0.25% −0.07
COF Capital One Financial Corp. Reduce -14.0% 0.22% −0.07
HBAN Huntington Bancshares Inc. Reduce -12.9% 0.24% −0.06
BAC Bank of America Corp. Reduce -13.6% 0.41% −0.06
MS Morgan Stanley Reduce -14.7% 0.32% −0.06
PNC PNC Financial Services Group Reduce -7.6% 0.33% −0.06
FITB Fifth Third Bancorp Reduce -17.3% 0.20% −0.05
ETRN Equitrans Midstream Corp. Reduce -18.1% 0.23% −0.05
WMB Williams Cos Inc. Reduce -12.9% 0.55% −0.05
TFC Truist Financial Corp. Reduce -10.9% 0.29% −0.05
KEY Keycorp Reduce -13.8% 0.14% −0.05
ET Energy Transfer LP Reduce -10.9% 0.38% −0.05
PDD PDD Holdings Inc. Reduce -24.4% 0.21% −0.04
CFG Citizens Financial Group Reduce -12.0% 0.20% −0.04
GS Goldman Sachs Group Inc. Reduce -14.1% 0.32% −0.04
PAA Plains All Amer Pipeline LP Reduce -12.7% 0.22% −0.04
ABBV Abbvie Inc. Reduce -11.1% 0.15% −0.04
NTRS Northern Trust Corp. Reduce -7.0% 0.20% −0.04
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.04
EPD Enterprise Products Partners Reduce -0.7% 0.64% −0.03
XOM Exxon Mobil Corp. Reduce -2.5% 0.44% −0.03
AVGO Broadcom Inc. Reduce -43.4% 0.06% −0.03
BNY Bank of New York Mellon Corp. Reduce -12.8% 0.21% −0.03
MTB M & T Bank Corp. Reduce -9.8% 0.28% −0.03
RF Regions Financial Corp. Reduce -9.8% 0.14% −0.03
SCHW Schwab (charles) Corp. Reduce -16.5% 0.12% −0.03
ULTA Ulta Beauty Inc. Sold out 0.00% −0.03
TGT Target Corp. Sold out 0.00% −0.03
TRGP Targa Resources Corp. Reduce -17.6% 0.26% −0.03
FAST Fastenal Co. Sold out 0.00% −0.03
IEX Idex Corp. Sold out 0.00% −0.02
TOL Toll Brothers Inc. Sold out 0.00% −0.02
SNA Snap-on Inc. Sold out 0.00% −0.02
OMC Omnicom Group Sold out 0.00% −0.02
PKG Packaging Corp. of America Sold out 0.00% −0.02
IBM Intl Business Machines Corp. Reduce -21.8% 0.05% −0.02

Portfolio Buys Q1 2024 → Q2 2024
GOVT iShares US Treasury Bond ETF Add +16.3% 20.56% +2.05
XLU St Sr Utl SL SE SPDR ETF-Usd Add +328.3% 2.25% +1.73
NVDA Nvidia Corp. Add +2594.8% 1.75% +1.70
FLSW Franklin Ftse Switzerland New 1.10% +1.10
AAPL Apple Inc. Add +26.0% 3.22% +1.06
MOAT Vaneck Morningstar Wide Moat New 0.65% +0.65
MSFT Microsoft Corp. Add +18.4% 3.48% +0.61
VGLT Vanguard Long-Term Treasury Add +45.4% 0.79% +0.21
VTI VG Morningstar TS MKT ETF-US Add +2.6% 6.54% +0.11
KMI Kinder Morgan Inc. Add +1.8% 0.61% +0.04
BAX Baxter International Inc. New 0.03% +0.03
VTR Ventas Inc. New 0.02% +0.02
EHC Encompass Health Corp. New 0.02% +0.02
VGIT Vanguard Intermediate-Term T Add +8.5% 0.40% +0.02
CVX Chevron Corp. Add +12.9% 0.18% +0.01
FRT Federal Realty Invs Trust Add +12.6% 0.04% +0.00
SBUX Starbucks Corp. Add +30.6% 0.03% +0.00
CCI Crown Castle Inc. Add +12.8% 0.08% +0.00
PFE Pfizer Inc. Add +3.2% 0.11% +0.00
KXI iShares Global Consumer Stap Add +5.0% 1.11% −0.00
MCD McDonald's Corp. Add +4.2% 0.17% −0.02
BMY Bristol-Myers Squibb Co. Add +3.3% 0.10% −0.03
CMCSA Comcast Corp. Class A Add +8.2% 0.92% −0.06
VHT Vanguard Health Care ETF Add +0.7% 7.60% −0.36

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