Morningstar Investment Services LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Morningstar Investment Services LLC reported 348 stock positions worth $9.1 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 9.7% of the portfolio, followed by Vanguard Total Bond Market (BND, 7.4%) and Vanguard Ftse Developed ETF (VEA, 3.7%). Compared with Q4 2023, it opened 16 new positions, sold out of 73, added to 15 and reduced 316. The biggest buy was a new position in Diageo PLC-Sponsored ADR (DEO) and the biggest sale Cencora (COR, shares −84%).

Most Recent 13F
Q1 2025
Location
Chicago, IL
CIK
0001478215
Portfolio Value
$9.1B (Q1 2024)
SEC Filing
0001104659-24-061404 ↗ filed May 15, 2024

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $9.1B $9.1B Q1 2024 Q2 2024: $9.2B Q2 2024 Q3 2024: $9.8B Q3 2024 Q4 2024: $1.1B Q4 2024 Q1 2025: $546.0M Q1 2025

Holdings 348 stocks · $9.1B

VTI VG Morningstar TS MKT ETF-US 9.68% 3,386,251 $879.5M Reduce -48.5%
BND Vanguard Total Bond Market 7.42% 9,278,080 $674.7M Reduce -48.2%
VEA Vanguard Ftse Developed ETF 3.66% 6,617,665 $332.7M Reduce -47.7%
META Meta Platforms Inc. Class A 2.71% 498,799 $246.3M Reduce -56.0%
MSFT Microsoft Corp. 2.28% 491,073 $207.0M Reduce -55.7%
BKNG Booking Holdings Inc. 2.22% 54,986 $202.0M Reduce -51.6%
SCHW Schwab (charles) Corp. 2.02% 2,541,699 $184.0M Reduce -45.8%
GOOGL Alphabet Inc. Class A 1.94% 1,168,651 $176.3M Reduce -51.0%
AMZN Amazon.com Inc. 1.82% 920,775 $165.6M Reduce -50.3%
IQV Iqvia Holdings Inc. 1.69% 607,610 $153.5M Reduce -50.7%
BRK.B Berkshire Hathaway Inc. Class B 1.68% 366,412 $152.8M Reduce -57.4%
V Visa Inc. Class A 1.50% 489,372 $136.5M Reduce -50.8%
BSV Vanguard Short-Term Bond ETF 1.49% 1,761,826 $135.3M Reduce -53.3%
VMBS Vanguard Mortgage-Backed Sec 1.47% 2,920,431 $133.6M Reduce -44.8%
ELV Elevance Health Inc. 1.44% 252,496 $131.3M Reduce -50.5%
KMX Carmax Inc. 1.41% 1,471,417 $128.0M Reduce -45.9%
TSM Taiwan Semiconductor-SP ADR 1.35% 900,508 $123.1M Reduce -52.9%
MA Mastercard Inc. Class A 1.33% 253,396 $121.1M Reduce -57.3%
VGIT Vanguard Intermediate-Term T 1.33% 2,055,666 $120.5M Reduce -49.0%
VWO Vanguard Ftse Emerging Marke 1.32% 2,878,351 $119.8M Reduce -29.5%
JPM JPMorgan Chase & Co. 1.28% 582,134 $116.1M Reduce -52.1%
CMCSA Comcast Corp. Class A 1.24% 2,609,357 $112.4M Reduce -49.3%
WFC Wells Fargo & Co. 1.18% 1,859,089 $107.1M Reduce -51.5%
SBUX Starbucks Corp. 1.06% 1,052,219 $96.3M Reduce -28.8%
QCOM Qualcomm Inc. 1.02% 548,853 $92.8M Reduce -50.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.02% 764,425 $92.5M Reduce -49.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.01% 369,447 $92.1M Reduce -72.8%
COR Cencora Inc. 0.95% 354,020 $86.6M Reduce -83.8%
GOOG Alphabet Inc. Class C 0.89% 533,783 $81.1M Reduce -59.4%
APD Air Products & Chemicals Inc. 0.89% 331,092 $80.5M Reduce -51.6%
PM Philip Morris International 0.88% 872,010 $80.4M Reduce -51.8%
CHKP Check Point Software Tech 0.87% 483,932 $79.4M Reduce -50.1%
ORCL Oracle Corp. 0.85% 613,517 $76.9M Reduce -50.2%
XOM Exxon Mobil Corp. 0.85% 668,442 $76.8M Reduce -46.0%
IVV iShares Core S&P 500 ETF 0.84% 145,134 $76.3M Reduce -49.0%
DEO Diageo PLC-Sponsored ADR 0.82% 498,117 $74.4M New
VTV Vanguard Mrngstr Val ETF-Aui 0.77% 433,090 $70.3M Reduce -58.5%
MDT Medtronic PLC 0.77% 807,427 $70.2M Reduce -48.0%
VTEB Vanguard Tax-Exempt Bond ETF 0.71% 1,282,743 $64.9M Reduce -50.4%
MOAT Vaneck Morningstar Wide Moat 0.71% 723,941 $64.7M New
ADSK Autodesk Inc. 0.71% 246,143 $64.2M Reduce -49.9%
ENB Enbridge Inc. 0.68% 1,713,902 $61.7M Reduce -52.8%
FISV Fiserv Inc. 0.67% 381,355 $60.8M Reduce -83.5%
CVS CVS Health Corp. 0.65% 738,234 $58.6M Reduce -50.2%
ADBE Adobe Inc. 0.60% 107,917 $54.4M Reduce -51.6%
OMC Omnicom Group 0.59% 567,481 $54.0M Reduce -52.7%
UNH Unitedhealth Group Inc. 0.59% 108,105 $53.3M Reduce -51.2%
SPSM SS SPDR P S&P 600 Small Cap 0.58% 1,238,063 $53.0M Reduce -4.5%
VWOB Vanguard Emerg MKTS Gov BND 0.55% 784,951 $50.3M Reduce -43.6%
LAMR Lamar Advertising Co. Class A 0.55% 422,788 $50.2M Reduce -53.7%
EWU iShares MSCI United Kingdom 0.53% 1,418,999 $48.4M Reduce -50.7%
VOX Vanguard Communication Servi 0.53% 365,403 $48.0M Reduce -43.3%
EFV iShares MSCI Eafe Value ETF 0.52% 875,176 $47.7M Reduce -50.1%
USHY iShares Broad Usd High Yield 0.52% 1,296,400 $47.5M Reduce -56.5%
IXUS iShares Core Intl Stock ETF 0.51% 678,448 $46.1M Reduce -48.1%
SLYV SS SPDR S&P 600 SC Val ETF 0.49% 542,698 $44.9M Reduce -45.8%
BLK BlackRock Finance Inc. 0.49% 53,004 $44.3M Reduce -53.7%
SCHB Schwab US Broad Market ETF 0.49% 724,127 $44.2M Reduce -49.2%
EIX Edison International 0.47% 621,717 $43.1M Reduce -53.9%
EBAY eBay Inc. 0.47% 829,037 $43.0M Reduce -50.1%
CRM Salesforce Inc. 0.47% 141,237 $42.6M Reduce -49.9%
GPC Genuine Parts Co. 0.46% 270,953 $42.0M Reduce -53.2%
GSK GSK PLC-Spon ADR 0.45% 942,076 $40.5M Reduce -57.5%
BDX Becton Dickinson and Co. 0.42% 155,126 $38.2M Reduce -50.1%
VEEV Veeva Systems Inc. Class A 0.42% 162,831 $38.0M Reduce -56.1%
ADI Analog Devices Inc. 0.41% 192,555 $37.2M Reduce -50.1%
SNY Sanofi-ADR 0.40% 741,800 $36.7M Reduce -50.1%
UPS United Parcel Service Class B 0.40% 244,687 $36.0M Reduce -51.4%
KO The Coca-Cola Co. 0.39% 583,021 $35.6M Reduce -53.3%
NVS Novartis AG-Sponsored ADR 0.39% 370,994 $35.6M Reduce -50.3%
DUK Duke Energy Corp. 0.39% 365,591 $35.1M Reduce -53.7%
GD General Dynamics Corp. 0.38% 123,795 $34.9M Reduce -50.2%
EMLC Vaneck JPM Em Local Curr BND 0.38% 1,420,419 $34.9M Reduce -51.6%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.38% 602,189 $34.3M Reduce -50.8%
ETR Entergy Corp. 0.37% 324,528 $34.0M New
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.37% 742,070 $33.9M Reduce -40.0%
ECL Ecolab Inc. 0.37% 143,202 $33.2M Reduce -49.6%
LMT Lockheed Martin Corp. 0.36% 71,284 $32.6M Reduce -51.8%
TFC Truist Financial Corp. 0.36% 839,479 $32.4M Reduce -52.1%
MCHI iShares MSCI China ETF 0.35% 801,021 $31.7M Reduce -51.3%
AMGN Amgen Inc. 0.34% 109,521 $31.4M Reduce -53.6%
VTIP Vanguard Short-Term Tips 0.34% 650,601 $31.2M Reduce -49.8%
UL Unilever PLC 0.33% 605,930 $30.4M Reduce -50.0%
PFE Pfizer Inc. 0.32% 1,059,785 $29.4M Reduce -56.3%
WMB Williams Cos Inc. 0.32% 743,754 $28.7M Reduce -52.9%
MCK McKesson Corp. 0.31% 52,450 $28.3M Reduce -50.7%
VFH Vanguard Financials ETF 0.31% 274,676 $28.0M Reduce -66.5%
BLV Vanguard Long-Term Bond ETF 0.30% 381,688 $27.6M Reduce -53.5%
VZ Verizon Communications Inc. 0.30% 663,739 $27.6M Reduce -52.3%
LYG Lloyds Banking Group PLC-ADR 0.29% 9,947,897 $26.2M Reduce -53.0%
COP Conocophillips 0.29% 205,335 $26.0M Reduce -49.9%
ANGL Vaneck Fallen Angel High YLD 0.28% 877,858 $25.5M Reduce -49.3%
PG The Procter & Gamble Co. 0.28% 154,185 $25.1M Reduce -52.9%
FIS Fidelity National Info Serv 0.26% 318,624 $23.4M Reduce -91.3%
INGR Ingredion Inc. 0.25% 195,510 $23.1M Reduce -50.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.25% 603,291 $22.8M Reduce -49.8%
TXN Texas Instruments Inc. 0.25% 130,414 $22.5M Reduce -53.3%
AMT American Tower Corp. 0.24% 112,194 $22.1M Add +2640.4%
JMUB JPMorgan Municipal ETF 0.22% 402,050 $20.4M Reduce -50.5%
CVX Chevron Corp. 0.22% 127,556 $19.9M Reduce -49.4%

Show all 348 holdings

Portfolio Sells Q4 2023 → Q1 2024

COR Cencora Inc. Reduce -83.8% 0.95% −1.56
FISV Fiserv Inc. Reduce -83.5% 0.67% −1.07
FIS Fidelity National Info Serv Reduce -91.3% 0.26% −0.99
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -72.8% 1.01% −0.77
EWZ iShares MSCI Brazil ETF Reduce -77.9% 0.12% −0.19
APD Air Products & Chemicals Inc. Reduce -51.6% 0.89% −0.17
CMP Compass Minerals Internation Reduce -84.7% 0.04% −0.16
GOOG Alphabet Inc. Class C Reduce -59.4% 0.89% −0.16
ADBE Adobe Inc. Reduce -51.6% 0.60% −0.15
EWY iShares MSCI South Korea ETF Reduce -74.6% 0.15% −0.15
BSV Vanguard Short-Term Bond ETF Reduce -53.3% 1.49% −0.15
SPY SS SPDR S&P 500 ETF Trust-US Reduce -98.2% 0.01% −0.14
EWG iShares MSCI Germany ETF Sold out 0.00% −0.12
VFH Vanguard Financials ETF Reduce -66.5% 0.31% −0.12
VTV Vanguard Mrngstr Val ETF-Aui Reduce -58.5% 0.77% −0.11
AIG American International Group Sold out 0.00% −0.10
MA Mastercard Inc. Class A Reduce -57.3% 1.33% −0.09
USHY iShares Broad Usd High Yield Reduce -56.5% 0.52% −0.09
CR Crane Co. Sold out 0.00% −0.08
PM Philip Morris International Reduce -51.8% 0.88% −0.07
PFE Pfizer Inc. Reduce -56.3% 0.32% −0.07
EIX Edison International Reduce -53.9% 0.47% −0.07
UNH Unitedhealth Group Inc. Reduce -51.2% 0.59% −0.07
MSFT Microsoft Corp. Reduce -55.7% 2.28% −0.07
FMX Fomento Economico Mex-SP ADR Reduce -70.3% 0.08% −0.06
ENB Enbridge Inc. Reduce -52.8% 0.68% −0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -57.4% 1.68% −0.05
BUD Anheuser-Busch Inbev-SPN ADR Sold out 0.00% −0.05
BKNG Booking Holdings Inc. Reduce -51.6% 2.22% −0.05
UPS United Parcel Service Class B Reduce -51.4% 0.40% −0.05
EL Estee Lauder Companies Class A Reduce -96.6% 0.00% −0.05
HYD Vaneck High Yield Muni ETF Sold out 0.00% −0.05
DUK Duke Energy Corp. Reduce -53.7% 0.39% −0.04
IFF Intl Flavors & Fragrances Reduce -97.5% 0.00% −0.04
VBR Vngrd Mrngst SL-CP Val ETF-U Sold out 0.00% −0.04
BABA Alibaba Group Holding-SP ADR Reduce -74.2% 0.04% −0.04
BLV Vanguard Long-Term Bond ETF Reduce -53.5% 0.30% −0.04
JD Jd.com Inc.-ADR Sold out 0.00% −0.04
CMCSA Comcast Corp. Class A Reduce -49.3% 1.24% −0.04
TER Teradyne Inc. Reduce -94.4% 0.01% −0.04
BIDU Baidu Inc. - Spon ADR Reduce -96.5% 0.00% −0.04
CTVA Corteva Inc. Sold out 0.00% −0.04
AMGN Amgen Inc. Reduce -53.6% 0.34% −0.04
BLK BlackRock Finance Inc. Reduce -53.7% 0.49% −0.04
VB Vanguard Most SM-Cap ETF-Usd Sold out 0.00% −0.04
CPB The Campbell's Company Reduce -94.8% 0.00% −0.04
ZBH Zimmer Biomet Holdings Inc. Reduce -76.3% 0.04% −0.04
EMLC Vaneck JPM Em Local Curr BND Reduce -51.6% 0.38% −0.03
BTI British American Tob-SP ADR Sold out 0.00% −0.03
VTEB Vanguard Tax-Exempt Bond ETF Reduce -50.4% 0.71% −0.03

Portfolio Buys Q4 2023 → Q1 2024

DEO Diageo PLC-Sponsored ADR New 0.82% +0.82
MOAT Vaneck Morningstar Wide Moat New 0.71% +0.71
ETR Entergy Corp. New 0.37% +0.37
AMT American Tower Corp. Add +2640.4% 0.24% +0.24
USB US Bancorp Add +51.1% 0.08% +0.06
DYNF Ishrs US E F R A ETF-Usd Inc. New 0.03% +0.03
RTO Rentokil Initial PLC-SP ADR New 0.03% +0.03
IVW iShares S&P 500 Growth ETF Add +74.0% 0.03% +0.02
IVE iShares S&P 500 Value ETF New 0.02% +0.02
EMXC iShares MSCI Emr MRK Ex Chna Add +21.6% 0.02% +0.01
HEFA Isha Curr Hedged MSCI Eafe New 0.01% +0.01
BINC iShares Flex I A ETF-Usd Inc. New 0.01% +0.01
WMT Walmart Inc. Add +10.4% 0.01% +0.01
SPTI SS SPDR P Int Term TSY ETF Add +6.4% 0.01% +0.00
SPMO Invesco S&P 500 Momentum ETF New 0.00% +0.00
AGG iShares Core U.S. Aggregate Add +26.1% 0.01% +0.00
SHW The Sherwin-Williams Co. Add +14.9% 0.01% +0.00
OTIS Otis Worldwide Corp. New 0.00% +0.00
MDYG SS SPDR S&P 400 MC GR ETF New 0.00% +0.00
TCBK Trico Bancshares New 0.00% +0.00
IWY iShares Russell Top 200 Grow Add +6.9% 0.01% +0.00
EFX Equifax Inc. New 0.00% +0.00
EMB iShares JP Morgan Usd Emergi Add +22.0% 0.01% +0.00
FMS Fresenius Medical Care-ADR Add +21.9% 0.01% +0.00
HOG Harley-Davidson Inc. New 0.00% +0.00
A Agilent Technologies Inc. Add +10.7% 0.00% +0.00
ICVT iShares Convertible Bond ETF New 0.00% +0.00
MKTX Marketaxess Holdings Inc. Add +51.2% 0.00% +0.00
LNG Cheniere Energy Inc. Add +22.0% 0.00% +0.00
IEF iShares 7-10 Year Treasury B Add +6.2% 0.00% +0.00
LCID Lucid Group Inc. New 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2025 134$546.0MVTI, BND, VEA, VCRB, VGIT
Q4 2024 145$1.1BVTI, BND, VEA, META, VMBS
Q3 2024 405$9.8BVTI, BND, VEA, META, BKNG
Q2 2024 376$9.2BVTI, BND, VEA, META, MSFT
Q1 2024 348$9.1BVTI, BND, VEA, META, MSFT