Morningstar Investment Services LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 7, 2024), Morningstar Investment Services LLC reported 405 stock positions worth $9.8 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 9.2% of the portfolio, followed by Vanguard Total Bond Market (BND, 7.5%) and Vanguard Ftse Developed ETF (VEA, 3.7%). Compared with Q2 2024, it opened 47 new positions, sold out of 18, added to 237 and reduced 120. The biggest buy was Starbucks (SBUX, shares +16%) and the biggest sale Vanguard Short-Term Bond ETF (BSV, shares −29%).

Most Recent 13F
Q1 2025
Location
Chicago, IL
CIK
0001478215
Portfolio Value
$9.8B (Q3 2024)
SEC Filing
0001104659-24-115120 ↗ filed Nov 7, 2024

Holdings Value

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

Holdings 405 stocks · $9.8B
VTI VG Morningstar TS MKT ETF-US 9.20% 3,198,533 $902.1M Reduce -2.9%
BND Vanguard Total Bond Market 7.49% 9,750,592 $734.0M Add +4.2%
VEA Vanguard Ftse Developed ETF 3.75% 6,934,168 $367.4M Add +5.6%
META Meta Platforms Inc. Class A 2.62% 452,463 $256.7M Reduce -3.4%
BKNG Booking Holdings Inc. 2.34% 54,022 $229.5M Reduce -1.2%
MSFT Microsoft Corp. 2.16% 494,506 $211.7M Reduce -0.6%
AMZN Amazon.com Inc. 1.96% 1,021,855 $192.1M Add +10.3%
VMBS Vanguard Mortgage-Backed Sec 1.75% 3,617,442 $171.1M Add +20.8%
VWO Vanguard Ftse Emerging Marke 1.69% 3,433,715 $165.7M Add +3.4%
BRK.B Berkshire Hathaway Inc. Class B 1.66% 355,504 $162.6M Reduce -2.2%
SCHW Schwab (charles) Corp. 1.65% 2,508,276 $161.6M Reduce -0.9%
TSM Taiwan Semiconductor-SP ADR 1.58% 870,420 $154.9M Reduce -2.1%
GOOGL Alphabet Inc. Class A 1.58% 942,302 $154.5M Reduce -1.5%
SBUX Starbucks Corp. 1.46% 1,471,587 $143.3M Add +15.8%
IQV Iqvia Holdings Inc. 1.42% 593,997 $139.5M Reduce -1.4%
V Visa Inc. Class A 1.36% 484,494 $133.3M Reduce -0.8%
ELV Elevance Health Inc. 1.32% 247,771 $129.8M Reduce -1.4%
VGIT Vanguard Intermediate-Term T 1.32% 2,132,068 $129.2M Add +4.7%
KMX Carmax Inc. 1.31% 1,664,728 $128.7M Reduce -0.8%
MA Mastercard Inc. Class A 1.24% 246,901 $121.9M Reduce -1.4%
JPM JPMorgan Chase & Co. 1.24% 575,463 $121.1M Reduce -0.5%
CMCSA Comcast Corp. Class A 1.10% 2,598,557 $108.2M Reduce -0.1%
PM Philip Morris International 1.07% 871,129 $105.1M Reduce -0.2%
ORCL Oracle Corp. 1.07% 619,526 $104.5M Add +0.2%
WFC Wells Fargo & Co. 1.05% 1,834,036 $102.5M Reduce -0.5%
APD Air Products & Chemicals Inc. 0.99% 324,168 $97.4M Reduce -1.1%
BSV Vanguard Short-Term Bond ETF 0.99% 1,233,196 $97.2M Reduce -29.2%
DEO Diageo PLC-Sponsored ADR 0.98% 683,710 $96.2M Reduce -1.5%
CHKP Check Point Software Tech 0.93% 473,976 $91.5M Reduce -1.7%
GOOG Alphabet Inc. Class C 0.91% 537,053 $88.8M Add +0.6%
IVV iShares Core S&P 500 ETF 0.88% 150,452 $86.4M Add +2.9%
QCOM Qualcomm Inc. 0.85% 487,796 $83.0M Add +23.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.84% 312,222 $82.2M Reduce -3.1%
XOM Exxon Mobil Corp. 0.79% 671,710 $77.8M Add +0.3%
COR Cencora Inc. 0.78% 339,651 $76.4M Reduce -1.7%
CRM Salesforce Inc. 0.77% 272,867 $75.5M Add +29.9%
ENB Enbridge Inc. 0.75% 1,795,689 $73.1M Reduce -1.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.73% 749,610 $72.0M Reduce -1.3%
MDT Medtronic PLC 0.73% 802,925 $71.7M Reduce -0.2%
ADBE Adobe Inc. 0.71% 134,499 $69.3M Reduce -0.8%
VTEB Vanguard Tax-Exempt Bond ETF 0.70% 1,332,470 $68.2M Add +2.6%
FISV Fiserv Inc. 0.68% 373,946 $66.7M Reduce -1.3%
MOAT Vaneck Morningstar Wide Moat 0.68% 687,188 $66.6M Reduce -2.7%
ADSK Autodesk Inc. 0.67% 241,452 $65.7M Reduce -1.6%
VTV Vanguard Mrngstr Val ETF-Aui 0.66% 369,284 $64.2M Reduce -10.7%
UNH Unitedhealth Group Inc. 0.64% 107,435 $62.5M Reduce -0.9%
OMC Omnicom Group 0.58% 558,355 $57.3M Reduce -0.4%
IXUS iShares Core Intl Stock ETF 0.57% 762,082 $55.7M Add +5.3%
SCHB Schwab US Broad Market ETF 0.56% 831,146 $55.1M Add +6.0%
LAMR Lamar Advertising Co. Class A 0.56% 408,881 $54.5M Reduce -1.1%
SPSM SS SPDR P S&P 600 Small Cap 0.55% 1,192,224 $54.0M Reduce -2.1%
EFV iShares MSCI Eafe Value ETF 0.54% 913,779 $52.9M Add +8.2%
EBAY eBay Inc. 0.54% 821,288 $52.6M Reduce -0.2%
EIX Edison International 0.53% 603,567 $52.4M Reduce -1.1%
SLYV SS SPDR S&P 600 SC Val ETF 0.53% 598,525 $51.8M Reduce -2.1%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 0.52% 1,082,130 $51.1M Add +24.3%
VWOB Vanguard Emerg MKTS Gov BND 0.52% 766,844 $50.8M Reduce -1.2%
FLGB Franklin Ftse United Kingdom 0.51% 1,746,990 $50.2M Reduce -2.6%
VOX Vanguard Communication Servi 0.51% 343,507 $49.8M Reduce -2.8%
BLK BlackRock Finance Inc. 0.50% 51,725 $48.9M Reduce -0.9%
USHY iShares Broad Usd High Yield 0.48% 1,260,875 $47.5M Reduce -1.5%
ETR Entergy Corp. 0.48% 360,897 $47.3M Reduce -0.8%
ADI Analog Devices Inc. 0.46% 193,130 $44.8M Reduce -0.1%
NVS Novartis AG-Sponsored ADR 0.44% 375,916 $43.5M Add +0.2%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.44% 599,848 $43.0M Reduce -0.4%
AMT American Tower Corp. 0.44% 186,708 $43.0M Reduce -0.6%
SNY Sanofi-ADR 0.44% 743,922 $42.9M Add +0.1%
DUK Duke Energy Corp. 0.42% 355,284 $41.2M Reduce -1.2%
KO The Coca-Cola Co. 0.42% 572,946 $41.1M Reduce -0.4%
UL Unilever PLC 0.41% 608,073 $39.8M Reduce -0.3%
MCHI iShares MSCI China ETF 0.40% 760,680 $38.8M Reduce -2.3%
GSK GSK PLC-Spon ADR 0.38% 925,004 $37.7M Reduce -0.1%
COP Conocophillips 0.38% 359,564 $37.7M Add +1.0%
BDX Becton Dickinson and Co. 0.38% 155,253 $37.5M Reduce -0.1%
GD General Dynamics Corp. 0.38% 124,574 $37.4M Add +0.3%
GPC Genuine Parts Co. 0.38% 264,277 $37.3M Reduce -0.6%
ECL Ecolab Inc. 0.36% 139,847 $35.6M Reduce -2.0%
EMLC Vaneck JPM Em Local Curr BND 0.36% 1,395,072 $35.6M Reduce -1.2%
TFC Truist Financial Corp. 0.36% 820,753 $34.9M Reduce -0.7%
AMGN Amgen Inc. 0.35% 107,604 $34.7M Reduce -0.4%
VEEV Veeva Systems Inc. Class A 0.35% 160,465 $33.8M Reduce -1.3%
WMB Williams Cos Inc. 0.32% 701,768 $31.7M Reduce -4.9%
UPS United Parcel Service Class B 0.32% 231,677 $31.1M Reduce -4.0%
PFE Pfizer Inc. 0.31% 1,044,104 $30.4M Reduce -0.3%
HII Huntington Ingalls Industrie 0.31% 115,401 $30.4M Reduce -0.3%
LYG Lloyds Banking Group PLC-ADR 0.30% 9,466,971 $29.7M Reduce -2.5%
VZ Verizon Communications Inc. 0.29% 644,068 $28.9M Reduce -1.0%
BLV Vanguard Long-Term Bond ETF 0.29% 372,965 $28.1M Reduce -1.7%
VDC Vanguard Consumer Staple ETF 0.28% 127,515 $27.8M Add +43.8%
WEC WEC Energy Group Inc. 0.28% 289,852 $27.6M Reduce -0.2%
VFH Vanguard Financials ETF 0.27% 243,799 $26.7M Reduce -3.3%
TXN Texas Instruments Inc. 0.27% 127,282 $26.6M Reduce -0.7%
SCHP Schwab U.S. Tips ETF 0.27% 486,555 $26.1M Add +87.8%
FIS Fidelity National Info Serv 0.26% 309,207 $25.7M Reduce -1.2%
MCK McKesson Corp. 0.26% 52,543 $25.7M Reduce -0.2%
ANGL Vaneck Fallen Angel High YLD 0.26% 861,446 $25.3M Reduce -1.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.25% 614,600 $24.2M Add +0.7%
RTX RTX Corp. 0.24% 196,970 $23.7M Add +0.4%
FSTA Fidelity MSCI Cons Stap Indx 0.22% 416,993 $21.3M Add +28.8%
JMUB JPMorgan Municipal ETF 0.21% 407,159 $20.9M Add +1.8%

Show all 405 holdings

Portfolio Sells Q2 2024 → Q3 2024
BSV Vanguard Short-Term Bond ETF Reduce -29.2% 0.99% −0.46
VTI VG Morningstar TS MKT ETF-US Reduce -2.9% 9.20% −0.44
SCHW Schwab (charles) Corp. Reduce -0.9% 1.65% −0.38
CVS CVS Health Corp. Reduce -77.6% 0.10% −0.36
GOOGL Alphabet Inc. Class A Reduce -1.5% 1.58% −0.35
VTIP Vanguard Short-Term Tips Reduce -97.6% 0.01% −0.29
MSFT Microsoft Corp. Reduce -0.6% 2.16% −0.29
ELV Elevance Health Inc. Reduce -1.4% 1.32% −0.14
EWY iShares MSCI South Korea ETF Reduce -88.0% 0.01% −0.12
DIS The Walt Disney Co. Reduce -1.3% 0.73% −0.11
WFC Wells Fargo & Co. Reduce -0.5% 1.05% −0.10
ADBE Adobe Inc. Reduce -0.8% 0.71% −0.10
TSM Taiwan Semiconductor-SP ADR Reduce -2.1% 1.58% −0.08
MCK McKesson Corp. Reduce -0.2% 0.26% −0.08
COR Cencora Inc. Reduce -1.7% 0.78% −0.08
LMT Lockheed Martin Corp. Reduce -40.7% 0.14% −0.06
VTV Vanguard Mrngstr Val ETF-Aui Reduce -10.7% 0.66% −0.06
V Visa Inc. Class A Reduce -0.8% 1.36% −0.06
BR Broadridge Financial Solutio Reduce -24.4% 0.15% −0.05
BKNG Booking Holdings Inc. Reduce -1.2% 2.34% −0.04
UPS United Parcel Service Class B Reduce -4.0% 0.32% −0.04
INGR Ingredion Inc. Reduce -25.4% 0.20% −0.04
VOX Vanguard Communication Servi Reduce -2.8% 0.51% −0.03
META Meta Platforms Inc. Class A Reduce -3.4% 2.62% −0.03
KMX Carmax Inc. Reduce -0.8% 1.31% −0.02
USHY iShares Broad Usd High Yield Reduce -1.5% 0.48% −0.02
ADI Analog Devices Inc. Reduce -0.1% 0.46% −0.02
GPC Genuine Parts Co. Reduce -0.6% 0.38% −0.02
VWOB Vanguard Emerg MKTS Gov BND Reduce -1.2% 0.52% −0.02
JPM JPMorgan Chase & Co. Reduce -0.5% 1.24% −0.02
WMB Williams Cos Inc. Reduce -4.9% 0.32% −0.02
AMGN Amgen Inc. Reduce -0.4% 0.35% −0.01
ANGL Vaneck Fallen Angel High YLD Reduce -1.2% 0.26% −0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -3.1% 0.84% −0.01
PAGP Plains GP Holdings LP Reduce -0.7% 0.13% −0.01
USSG Xtrackers MSCI USA Sele Eqty Reduce -4.5% 0.12% −0.01
IWY iShares Russell Top 200 Grow Sold out 0.00% −0.01
SPYG SS SPDR P S&P 500 Growth ETF Sold out 0.00% −0.01
HEFA Isha Curr Hedged MSCI Eafe Reduce -73.0% 0.00% −0.01
ECL Ecolab Inc. Reduce -2.0% 0.36% −0.01
BDX Becton Dickinson and Co. Reduce -0.1% 0.38% −0.01
BLV Vanguard Long-Term Bond ETF Reduce -1.7% 0.29% −0.01
PFE Pfizer Inc. Reduce -0.3% 0.31% −0.01
SCHR Schwab Intermediate-Term US Reduce -1.7% 0.14% −0.01
C Citigroup Inc. Reduce -0.1% 0.10% −0.01
IWF iShares Russell 1000 Growth Sold out 0.00% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.01
MRK Merck & Co. Inc. Reduce -12.5% 0.01% −0.00
GSK GSK PLC-Spon ADR Reduce -0.1% 0.38% −0.00
TIP iShares Tips Bond ETF Sold out 0.00% −0.00

Portfolio Buys Q2 2024 → Q3 2024
SBUX Starbucks Corp. Add +15.8% 1.46% +0.37
VMBS Vanguard Mortgage-Backed Sec Add +20.8% 1.75% +0.26
VEA Vanguard Ftse Developed ETF Add +5.6% 3.75% +0.23
WMG Warner Music Group Corp. Class A New 0.19% +0.19
CRM Salesforce Inc. Add +29.9% 0.77% +0.19
BND Vanguard Total Bond Market Add +4.2% 7.49% +0.13
ORCL Oracle Corp. Add +0.2% 1.07% +0.12
SCHP Schwab U.S. Tips ETF Add +87.8% 0.27% +0.12
VRSN Verisign Inc. Add +689.6% 0.14% +0.12
VWO Vanguard Ftse Emerging Marke Add +3.4% 1.69% +0.12
YUMC Yum China Holdings Inc. Add +50.5% 0.19% +0.10
IUSB Ishr CR Unvrse Usd BD ETF-Ui Add +24.3% 0.52% +0.09
VDC Vanguard Consumer Staple ETF Add +43.8% 0.28% +0.09
EFV iShares MSCI Eafe Value ETF Add +8.2% 0.54% +0.05
FSTA Fidelity MSCI Cons Stap Indx Add +28.8% 0.22% +0.05
SNY Sanofi-ADR Add +0.1% 0.44% +0.05
AAPL Apple Inc. Add +34.0% 0.18% +0.04
IXUS iShares Core Intl Stock ETF Add +5.3% 0.57% +0.04
TSLA Tesla Inc. Add +146.2% 0.05% +0.04
ALLE Allegion PLC Add +0.4% 0.21% +0.03
BABA Alibaba Group Holding-SP ADR Add +0.1% 0.10% +0.03
RTX RTX Corp. Add +0.4% 0.24% +0.03
DYNF Ishrs US E F R A ETF-Usd Inc. Add +42.9% 0.09% +0.03
VGIT Vanguard Intermediate-Term T Add +4.7% 1.32% +0.03
SCHB Schwab US Broad Market ETF Add +6.0% 0.56% +0.02
ZBRA Zebra Technologies Corp. Class A Add +0.6% 0.20% +0.02
IVW iShares S&P 500 Growth ETF Add +34.2% 0.10% +0.02
EMXC iShares MSCI Emr MRK Ex Chna Add +80.1% 0.05% +0.02
SPYM Ste STR SPDR PT S&P 500 ETF Add +35.4% 0.08% +0.02
NVDA Nvidia Corp. Add +25.3% 0.14% +0.02
EFG iShares MSCI Eafe Growth ETF Add +33.0% 0.07% +0.02
IVE iShares S&P 500 Value ETF Add +50.0% 0.04% +0.01
BINC iShares Flex I A ETF-Usd Inc. Add +99.7% 0.02% +0.01
IWX iShares Russell Top 200 Valu New 0.01% +0.01
MAS Masco Corp. Add +9.1% 0.05% +0.01
RTO Rentokil Initial PLC-SP ADR Add +39.2% 0.11% +0.01
SPYV SS SPDR P S&P 500 Value ETF New 0.01% +0.01
IJR iShares Core S&P Small-Cap E Add +40.9% 0.03% +0.01
NVS Novartis AG-Sponsored ADR Add +0.2% 0.44% +0.01
DMXF iShares ESG Advanc MSCI Eafe Add +57.3% 0.02% +0.01
USB US Bancorp Add +3.9% 0.08% +0.01
IVV iShares Core S&P 500 ETF Add +2.9% 0.88% +0.01
IYW iShares Ustechnology ETF Add +34.3% 0.04% +0.01
SUSB iShares ESG Aware 1-5 Year U New 0.01% +0.01
PFG Principal Financial Group New 0.01% +0.01
AXP American Express Co. Add +1.4% 0.07% +0.01
MBB iShares MBS ETF Add +28.6% 0.04% +0.01
HD Home Depot Inc. Add +22.1% 0.03% +0.01
QCOM Qualcomm Inc. Add +23.2% 0.85% +0.01
HDV iShares Core High Dividend E New 0.01% +0.01

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