Morningstar Investment Management LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 3, 2025), Morningstar Investment Management LLC reported 212 stock positions worth $1.3 billion. Its top holding was iShares US Treasury Bond ETF (GOVT) at 23.8% of the portfolio, followed by Vanguard Mortgage-Backed Sec (VMBS, 9.2%) and Vanguard Consumer Staple ETF (VDC, 6.2%). Compared with Q3 2024, it opened 11 new positions, sold out of 13, added to 38 and reduced 66. The biggest buy was a new position in Vanguard Mortgage-Backed Sec (VMBS) and the biggest sale Vanguard Consumer Staple ETF (VDC, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001673385
- Portfolio Value
- $1.3B (Q4 2024)
- SEC Filing
- 0001104659-25-008442 ↗ filed Feb 3, 2025
Holdings Value
Holdings 212 stocks · $1.3B
| GOVT iShares US Treasury Bond ETF | 23.78% | 13,124,464 | $301.6M | Add +49.5% |
| VMBS Vanguard Mortgage-Backed Sec | 9.17% | 2,564,973 | $116.3M | New |
| VDC Vanguard Consumer Staple ETF | 6.22% | 373,293 | $78.9M | Reduce -3.6% |
| VTI VG Morningstar TS MKT ETF-US | 5.58% | 244,368 | $70.8M | Reduce -6.5% |
| VHT Vanguard Health Care ETF | 5.50% | 274,766 | $69.7M | Add +4.1% |
| GOOGL Alphabet Inc. Class A | 4.36% | 292,207 | $55.3M | Reduce -12.1% |
| MSFT Microsoft Corp. | 4.10% | 123,508 | $52.1M | Add +35.3% |
| AAPL Apple Inc. | 3.85% | 194,913 | $48.8M | Add +30.7% |
| VCIT Vanguard Int-Term Corporate | 3.79% | 598,754 | $48.1M | New |
| SCHO Schwab Short-Term US Treas | 3.59% | 1,890,735 | $45.5M | Reduce -54.7% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 2.03% | 572,996 | $25.7M | New |
| SCHH Schwab US REIT ETF | 1.89% | 1,139,456 | $24.0M | Reduce -1.9% |
| META Meta Platforms Inc. Class A | 1.78% | 38,514 | $22.6M | Reduce -25.1% |
| NVDA Nvidia Corp. | 1.68% | 158,904 | $21.3M | Add +14.3% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 1.44% | 626,746 | $18.2M | Add +2.7% |
| AMZN Amazon.com Inc. | 1.36% | 78,397 | $17.2M | Add +32.8% |
| KXI iShares Global Consumer Stap | 1.22% | 256,859 | $15.5M | Add +45.6% |
| VGIT Vanguard Intermediate-Term T | 0.95% | 207,938 | $12.1M | Add +10.8% |
| FTEC Fidelity MSCI Info Tech Indx | 0.88% | 60,223 | $11.1M | Add +18.7% |
| EWY iShares MSCI South Korea ETF | 0.84% | 209,268 | $10.7M | Add +107.0% |
| FLSW Franklin Ftse Switzerland | 0.80% | 317,703 | $10.2M | No change |
| VGLT Vanguard Long-Term Treasury | 0.65% | 148,747 | $8.2M | Add +14.6% |
| VZ Verizon Communications Inc. | 0.54% | 171,610 | $6.9M | Reduce -16.3% |
| CMCSA Comcast Corp. Class A | 0.50% | 168,723 | $6.3M | Reduce -20.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.50% | 56,848 | $6.3M | Reduce -26.8% |
| MOAT Vaneck Morningstar Wide Moat | 0.47% | 64,083 | $5.9M | Reduce -16.7% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.45% | 127,586 | $5.7M | New |
| NFLX Netflix Inc. | 0.39% | 5,610 | $5.0M | Reduce -26.9% |
| ET Energy Transfer LP | 0.34% | 218,192 | $4.3M | Reduce -26.8% |
| XLB SS Materials Select Sector | 0.34% | 50,763 | $4.3M | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.33% | 55,901 | $4.2M | Add +20.5% |
| KMI Kinder Morgan Inc. | 0.32% | 147,176 | $4.0M | Reduce -42.5% |
| WMB Williams Cos Inc. | 0.27% | 63,640 | $3.4M | Reduce -44.4% |
| OKE Oneok Inc. | 0.26% | 33,260 | $3.3M | Reduce -44.0% |
| LNG Cheniere Energy Inc. | 0.26% | 15,536 | $3.3M | Reduce -44.1% |
| XOM Exxon Mobil Corp. | 0.25% | 28,918 | $3.1M | Reduce -17.0% |
| PBR Petroleo Brasileiro-Spon ADR | 0.24% | 239,902 | $3.1M | Add +39.5% |
| EPD Enterprise Products Partners | 0.22% | 88,487 | $2.8M | Reduce -33.9% |
| VTIP Vanguard Short-Term Tips | 0.22% | 56,529 | $2.7M | Reduce -15.3% |
| CVX Chevron Corp. | 0.17% | 15,282 | $2.2M | Add +32.6% |
| MCD McDonald's Corp. | 0.14% | 6,201 | $1.8M | Add +0.3% |
| V Visa Inc. Class A | 0.14% | 5,684 | $1.8M | No change |
| MPLX MPLX LP | 0.14% | 36,577 | $1.8M | Reduce -36.0% |
| CSCO Cisco Systems Inc. | 0.14% | 29,038 | $1.7M | Reduce -2.5% |
| CME Cme Group Inc. | 0.13% | 7,341 | $1.7M | Reduce -4.7% |
| PAA Plains All Amer Pipeline LP | 0.13% | 93,864 | $1.6M | Reduce -31.3% |
| TMUS T-Mobile US Inc. | 0.12% | 7,165 | $1.6M | Reduce -28.6% |
| TME Tencent Music Entertainm-ADR | 0.12% | 133,039 | $1.5M | No change |
| HON Honeywell International Inc. | 0.12% | 6,673 | $1.5M | Reduce -1.6% |
| EA Electronic Arts Inc. | 0.12% | 10,222 | $1.5M | Reduce -25.6% |
| MDT Medtronic PLC | 0.12% | 18,596 | $1.5M | Add +2.9% |
| CL Colgate-Palmolive Co. | 0.11% | 15,497 | $1.4M | No change |
| GILD Gilead Sciences Inc. | 0.11% | 15,103 | $1.4M | Reduce -4.1% |
| BLK BlackRock Inc. | 0.11% | 1,312 | $1.3M | Reduce -3.5% |
| MDLZ Mondelez International Inc. Class A | 0.10% | 21,964 | $1.3M | Add +5.8% |
| WM Waste Management Inc. | 0.10% | 6,050 | $1.2M | No change |
| TRGP Targa Resources Corp. | 0.10% | 6,837 | $1.2M | Reduce -49.6% |
| ICE Intercontinental Exchange Inc. | 0.10% | 8,180 | $1.2M | No change |
| PDD PDD Holdings Inc. | 0.09% | 12,247 | $1.2M | No change |
| MO Altria Group Inc. | 0.09% | 22,341 | $1.2M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.09% | 9,390 | $1.1M | No change |
| BMY Bristol-Myers Squibb Co. | 0.09% | 19,966 | $1.1M | Reduce -7.1% |
| EMR Emerson Electric Co. | 0.09% | 9,055 | $1.1M | Reduce -10.4% |
| CSX CSX Corp. | 0.09% | 34,319 | $1.1M | No change |
| ORLY O'reilly Automotive Inc. | 0.09% | 933 | $1.1M | No change |
| WES Western Midstream Partners L | 0.08% | 28,006 | $1.1M | Reduce -30.2% |
| ROP Roper Technologies Inc. | 0.08% | 2,057 | $1.1M | No change |
| APH Amphenol Corp. Class A | 0.08% | 15,286 | $1.1M | No change |
| PFE Pfizer Inc. | 0.08% | 38,605 | $1.0M | Add +6.0% |
| AEP American Electric Power | 0.08% | 11,056 | $1.0M | Add +3.6% |
| TXN Texas Instruments Inc. | 0.08% | 5,380 | $1.0M | Add +4.7% |
| DUK Duke Energy Corp. | 0.08% | 9,128 | $983K | No change |
| SHW The Sherwin-Williams Co. | 0.08% | 2,837 | $964K | No change |
| USB US Bancorp | 0.07% | 19,514 | $933K | Reduce -63.4% |
| APD Air Products & Chemicals Inc. | 0.07% | 3,195 | $927K | Reduce -2.5% |
| NOC Northrop Grumman Corp. | 0.07% | 1,953 | $917K | No change |
| UNP Union Pacific Corp. | 0.07% | 3,983 | $908K | No change |
| SRE Sempra | 0.07% | 10,248 | $899K | No change |
| SYK Stryker Corp. | 0.07% | 2,492 | $897K | No change |
| T AT&T Inc. | 0.07% | 39,123 | $891K | No change |
| MCK McKesson Corp. | 0.07% | 1,564 | $891K | No change |
| BDX Becton Dickinson and Co. | 0.07% | 3,897 | $884K | No change |
| SPG Simon Property Group Inc. | 0.07% | 5,123 | $882K | Reduce -4.0% |
| WFC Wells Fargo & Co. | 0.07% | 12,484 | $877K | Reduce -75.3% |
| HD Home Depot Inc. | 0.07% | 2,224 | $865K | No change |
| SO The Southern Co. | 0.07% | 10,492 | $864K | No change |
| PH Parker Hannifin Corp. | 0.07% | 1,353 | $861K | No change |
| MS Morgan Stanley | 0.07% | 6,751 | $849K | Reduce -65.5% |
| JNJ Johnson & Johnson | 0.07% | 5,855 | $847K | Add +5.5% |
| MNST Monster Beverage Corp. | 0.07% | 15,998 | $841K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 18,835 | $828K | Reduce -67.3% |
| DTM DT Midstream Inc. | 0.07% | 8,307 | $826K | Reduce -38.1% |
| PCAR Paccar Inc. | 0.06% | 7,837 | $815K | No change |
| MCO Moody's Corp. | 0.06% | 1,676 | $793K | No change |
| KO The Coca-Cola Co. | 0.06% | 11,825 | $736K | Add +7.3% |
| AZO AutoZone Inc. | 0.06% | 225 | $720K | No change |
| AMGN Amgen Inc. | 0.06% | 2,729 | $711K | Add +9.6% |
| GS Goldman Sachs Group Inc. | 0.06% | 1,227 | $703K | Reduce -68.7% |
| LOW Lowe's Cos Inc. | 0.06% | 2,841 | $701K | No change |
| AON Aon PLC Class A | 0.05% | 1,933 | $694K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| VDC Vanguard Consumer Staple ETF | Reduce -3.6% | 6.22% | −2.07 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -6.5% | 5.58% | −1.87 |
| SCHO Schwab Short-Term US Treas | Reduce -54.7% | 3.59% | −1.43 |
| META Meta Platforms Inc. Class A | Reduce -25.1% | 1.78% | −1.23 |
| GOOGL Alphabet Inc. Class A | Reduce -12.1% | 4.36% | −1.06 |
| SCHH Schwab US REIT ETF | Reduce -1.9% | 1.89% | −0.71 |
| CMCSA Comcast Corp. Class A | Reduce -20.4% | 0.50% | −0.38 |
| VZ Verizon Communications Inc. | Reduce -16.3% | 0.54% | −0.33 |
| KMI Kinder Morgan Inc. | Reduce -42.5% | 0.32% | −0.31 |
| OKE Oneok Inc. | Reduce -44.0% | 0.26% | −0.31 |
| WMB Williams Cos Inc. | Reduce -44.4% | 0.27% | −0.31 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -16.7% | 0.47% | −0.27 |
| LNG Cheniere Energy Inc. | Reduce -44.1% | 0.26% | −0.26 |
| WFC Wells Fargo & Co. | Reduce -75.3% | 0.07% | −0.24 |
| DIS The Walt Disney Co. | Reduce -26.8% | 0.50% | −0.23 |
| XOM Exxon Mobil Corp. | Reduce -17.0% | 0.25% | −0.18 |
| PNC PNC Financial Services Group | Reduce -72.2% | 0.05% | −0.18 |
| USB US Bancorp | Reduce -63.4% | 0.07% | −0.18 |
| BAC Bank of America Corp. | Reduce -67.3% | 0.07% | −0.17 |
| EPD Enterprise Products Partners | Reduce -33.9% | 0.22% | −0.17 |
| MTB M & T Bank Corp. | Reduce -80.6% | 0.03% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -71.1% | 0.05% | −0.16 |
| ET Energy Transfer LP | Reduce -26.8% | 0.34% | −0.15 |
| MS Morgan Stanley | Reduce -65.5% | 0.07% | −0.15 |
| TFC Truist Financial Corp. | Reduce -66.9% | 0.05% | −0.15 |
| GS Goldman Sachs Group Inc. | Reduce -68.7% | 0.06% | −0.15 |
| NFLX Netflix Inc. | Reduce -26.9% | 0.39% | −0.15 |
| HBAN Huntington Bancshares Inc. | Reduce -77.0% | 0.03% | −0.13 |
| TRGP Targa Resources Corp. | Reduce -49.6% | 0.10% | −0.13 |
| BNY Bank of New York Mellon Corp. | Reduce -75.1% | 0.03% | −0.12 |
| C Citigroup Inc. | Reduce -70.0% | 0.04% | −0.12 |
| COF Capital One Financial Corp. | Reduce -73.6% | 0.04% | −0.12 |
| PAA Plains All Amer Pipeline LP | Reduce -31.3% | 0.13% | −0.11 |
| MPLX MPLX LP | Reduce -36.0% | 0.14% | −0.11 |
| CFG Citizens Financial Group | Reduce -75.4% | 0.03% | −0.11 |
| VTIP Vanguard Short-Term Tips | Reduce -15.3% | 0.22% | −0.11 |
| FITB Fifth Third Bancorp | Reduce -71.6% | 0.03% | −0.11 |
| NTRS Northern Trust Corp. | Reduce -62.7% | 0.05% | −0.10 |
| TMUS T-Mobile US Inc. | Reduce -28.6% | 0.12% | −0.09 |
| EA Electronic Arts Inc. | Reduce -25.6% | 0.12% | −0.08 |
| KEY Keycorp | Reduce -68.4% | 0.03% | −0.08 |
| RF Regions Financial Corp. | Reduce -70.5% | 0.02% | −0.07 |
| WES Western Midstream Partners L | Reduce -30.2% | 0.08% | −0.07 |
| SCHW Schwab (charles) Corp. | Reduce -47.1% | 0.05% | −0.06 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.06 |
| AM Antero Midstream Corp. | Reduce -35.6% | 0.05% | −0.05 |
| DTM DT Midstream Inc. | Reduce -38.1% | 0.07% | −0.05 |
| STT State Street Corp. | Reduce -50.9% | 0.03% | −0.04 |
| CME Cme Group Inc. | Reduce -4.7% | 0.13% | −0.04 |
| CVS CVS Health Corp. | Reduce -26.7% | 0.02% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| VMBS Vanguard Mortgage-Backed Sec | New | 9.17% | +9.17 |
| GOVT iShares US Treasury Bond ETF | Add +49.5% | 23.78% | +3.81 |
| VCIT Vanguard Int-Term Corporate | New | 3.79% | +3.79 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | New | 2.03% | +2.03 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.45% | +0.45 |
| AAPL Apple Inc. | Add +30.7% | 3.85% | +0.44 |
| MSFT Microsoft Corp. | Add +35.3% | 4.10% | +0.32 |
| AMZN Amazon.com Inc. | Add +32.8% | 1.36% | +0.26 |
| EWY iShares MSCI South Korea ETF | Add +107.0% | 0.84% | +0.20 |
| KXI iShares Global Consumer Stap | Add +45.6% | 1.22% | +0.09 |
| FFIV F5 Inc. | New | 0.02% | +0.02 |
| EXEL Exelixis Inc. | New | 0.02% | +0.02 |
| AMP Ameriprise Financial Inc. | New | 0.02% | +0.02 |
| VRSN Verisign Inc. | New | 0.02% | +0.02 |
| LULU Lululemon Athletica Inc. | New | 0.02% | +0.02 |
| ULTA Ulta Beauty Inc. | New | 0.02% | +0.02 |
| WU Western Union Co. | New | 0.01% | +0.01 |
| CVX Chevron Corp. | Add +32.6% | 0.17% | +0.00 |
| KVUE Kenvue Inc. | Add +30.8% | 0.02% | +0.00 |
| VTR Ventas Inc. | Add +9.2% | 0.02% | −0.00 |
| O Realty Income Corp. | Add +10.4% | 0.02% | −0.01 |
| D Dominion Energy Inc. | Add +0.8% | 0.02% | −0.01 |
| FRT Federal Realty Invs Trust | Add +8.7% | 0.05% | −0.01 |
| EIX Edison International | Add +3.5% | 0.03% | −0.01 |
| BAX Baxter International Inc. | Add +13.7% | 0.02% | −0.01 |
| PBR Petroleo Brasileiro-Spon ADR | Add +39.5% | 0.24% | −0.01 |
| AMCR Amcor PLC | Add +18.9% | 0.03% | −0.01 |
| CCI Crown Castle Inc. | Add +22.7% | 0.04% | −0.01 |
| HAS Hasbro Inc. | Add +5.9% | 0.02% | −0.01 |
| PEP Pepsico Inc. | Add +11.2% | 0.04% | −0.01 |
| KMB Kimberly-Clark Corp. | Add +5.5% | 0.04% | −0.01 |
| SBUX Starbucks Corp. | Add +3.8% | 0.05% | −0.01 |
| UPS United Parcel Service Class B | Add +1.9% | 0.05% | −0.02 |
| KO The Coca-Cola Co. | Add +7.3% | 0.06% | −0.02 |
| JNJ Johnson & Johnson | Add +5.5% | 0.07% | −0.02 |
| AEP American Electric Power | Add +3.6% | 0.08% | −0.02 |
| AMGN Amgen Inc. | Add +9.6% | 0.06% | −0.02 |
| PFE Pfizer Inc. | Add +6.0% | 0.08% | −0.02 |
| TXN Texas Instruments Inc. | Add +4.7% | 0.08% | −0.03 |
| FTEC Fidelity MSCI Info Tech Indx | Add +18.7% | 0.88% | −0.03 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +20.5% | 0.33% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Add +5.8% | 0.10% | −0.04 |
| MDT Medtronic PLC | Add +2.9% | 0.12% | −0.04 |
| MCD McDonald's Corp. | Add +0.3% | 0.14% | −0.05 |
| VGLT Vanguard Long-Term Treasury | Add +14.6% | 0.65% | −0.11 |
| VGIT Vanguard Intermediate-Term T | Add +10.8% | 0.95% | −0.15 |
| NVDA Nvidia Corp. | Add +14.3% | 1.68% | −0.22 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Add +2.7% | 1.44% | −0.52 |
| VHT Vanguard Health Care ETF | Add +4.1% | 5.50% | −1.90 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 317 | $1.6B | GOVT, MSFT, VTI, AAPL, GOOGL |
| Q1 2026 | 315 | $1.6B | GOVT, MSFT, VTI, AAPL, GOOGL |
| Q4 2025 | 327 | $1.7B | GOVT, VTI, AAPL, MSFT, GOOGL |
| Q3 2025 | 463 | $2.7B | GOVT, NVDA, MSFT, AAPL, VTI |
| Q2 2025 | 205 | $1.1B | GOVT, VHT, VTI, MSFT, GOOGL |
| Q1 2025 | 71 | $1.2B | GOVT, VMBS, VHT, VDC, VCIT |
| Q4 2024 | 212 | $1.3B | GOVT, VMBS, VDC, VTI, VHT |
| Q3 2024 | 214 | $1.0B | GOVT, VDC, VTI, VHT, GOOGL |
| Q2 2024 | 195 | $957.0M | GOVT, VDC, VHT, VTI, GOOGL |
| Q1 2024 | 200 | $922.2M | GOVT, VDC, VHT, SCHO, VTI |