Morningstar Investment Services LLC

CIK

1478215

Location

Chicago, IL

Portfolio Value

Small $545,010,634

Diversification

Diversified

Filing Date

Global Rank

#2,964 / 8,136 ▼ 1001 · as of Mar 2025

Top Industry

Internet Content & Information 7.9%

Period ended 1 year ago

Filed May 5, 2025 · 1y

21 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2025, never from the firm's own description.

Style

Diversified active

Top 10 weight 51.3%, 20.8 effective positions, active share 72.1% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

9.4% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 17.8 quarters (12+), a floor since 73.9% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 72.1%; sector active share 41.4% against the combined 13F book's sector weights.

Over time 21 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

134 tracked positions · as of Mar 31, 2025 · Δ vs Dec 31, 2024

Top Position

14.4%

−0.1 pts

Top 5

41.0%

+0.4 pts

Top 10

51.3%

+0.6 pts

HHI

481

Diversified−31

Portfolio Trend

21 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2025

Sector	% Portfolio	Value	Positions
Unclassified	53.9%	$293,829,142	39
Financial Services	9.6%	$52,210,767	14
Technology	7.5%	$40,953,560	17
Healthcare	7.4%	$40,263,349	19
Communication Services	6.1%	$33,422,085	9
Consumer Cyclical	5.9%	$31,955,878	11
Consumer Defensive	3.1%	$16,768,495	7
Energy	2.2%	$11,750,606	5
Utilities	1.3%	$7,253,474	4
Industrials	1.3%	$7,002,436	5
Basic Materials	1.0%	$5,270,128	2
Real Estate	0.8%	$4,330,714	2

Last Quarter's Activity

Export CSV

Mar 31, 2025 vs Dec 31, 2024

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	−991,685	800,224	$58,776,452
LYG	Lloyds Banking Group plc	−577,769	435,473	$1,663,506
VEA	Vanguard FTSE Developed Markets ETF	−537,773	655,294	$33,308,594
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	−282,801	197,477	$9,145,159
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	−224,538	235,987	$10,680,771
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	−210,833	281,306	$77,314,141
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	−167,188	58,842	$4,606,151
CMCSA	Comcast Corp	−141,740	138,002	$5,092,267
SCHW	Schwab Charles Corp	−131,896	105,850	$8,285,938
SCHP	Schwab U.S. TIPS ETF	−116,686	58,144	$1,563,492
SCHB	Schwab U.S. Broad Market ETF	−107,082	175,180	$3,771,625
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	−104,090	261,544	$15,535,713
USHY	iShares Broad USD High Yield Corporate Bond ETF	−102,901	115,938	$4,267,677
ENB	Enbridge Inc	−96,515	82,024	$3,634,483
WFC	Wells Fargo & Company	−92,733	84,523	$6,067,906
KMX	Carmax Inc	−86,117	70,668	$5,506,450
VWOB	VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND	−79,290	26,498	$1,701,171
SBUX	Starbucks Corp	−73,659	51,808	$5,081,846
FLGB		−67,884	82,460	$2,363,386
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	−66,737	78,929	$3,916,456
GSK	GSK plc	−65,979	55,546	$2,151,852
BLV	VANGUARD LONG-TERM BOND INDEX FUND	−64,894	3,433	$241,751
IUSB	iShares Core Universal USD Bond ETF	−64,822	53,475	$2,464,128
PFE	Pfizer Inc	−61,101	52,792	$1,337,749
GOOGL	Alphabet Inc.	−52,203	34,683	$5,363,379
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
VCRB	VANGUARD CORE BOND ETF	297,313	$23,020,945
FHLC	Fidelity MSCI Health Care Index ETF	37,214	$2,542,460
ILF	iShares Latin America 40 ETF	97,252	$2,290,284
CASY	Caseys General Stores Inc	931	$404,091
EWY	iShares Trust	14,167	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
VTV	VANGUARD VALUE INDEX FUND	52,685	$8,919,570
SLYV	State Street(R) SPDR(R) S & P 600(TM) Small Cap Value ETF	85,468	$7,457,083
EFV	iShares MSCI EAFE Value ETF	125,022	$6,559,904
SPY	Spdr S&P 500 ETF Trust	2,823	$1,654,503
EXPE	Expedia Group, Inc.	1,954	$364,088
MAS	Masco Corp	4,511	$327,363
ZBH	Zimmer Biomet Holdings, Inc.	2,735	$288,898
TIGO	Millicom International Cellular SA	10,639	$266,081
ACN	Accenture plc	671	$236,051
FTRE	Fortrea Holdings Inc.	12,347	$230,271
IJR	iShares Core S&P Small-Cap ETF	1,974	$227,444
PNC	Pnc Financial Services Group, Inc.	1,174	$226,405
AVGO	Broadcom Inc.	968	$224,421
HBAN	Huntington Bancshares Inc	12,688	$206,433
CMP	Compass Minerals International Inc	13,980	$157,275
ABEV	Ambev S.A.	61,585	$113,932
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

134 tracked positions · $545,010,634 total · filing declares 134 positions · $545,991 · as of Mar 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 134 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	281,306	-210,833	$77,314,141	−45.8%	21+	before history	14.19%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Reduced	800,224	-991,685	$58,776,452	−54.4%	21+	before history	10.78%
VEA	Vanguard FTSE Developed Markets ETF	Reduced	655,294	-537,773	$33,308,594	−41.6%	21+	before history	6.11%
VCRB	VANGUARD CORE BOND ETF	NEW	297,313	NEW	$23,020,945	NEW	1	$76.52	4.22%
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	Reduced	261,544	-104,090	$15,535,713	−26.7%	21+	before history	2.85%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Reduced	235,987	-224,538	$10,680,771	−47.3%	21+	before history	1.96%
META	Meta Platforms, Inc. Communication Services	Reduced	18,028	-23,900	$10,390,618	−57.7%	6	$325.65	1.91%
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	Reduced	197,477	-282,801	$9,145,159	−58.0%	21+	before history	1.68%
MSFT	Microsoft Corp Technology	Reduced	24,172	-22,171	$9,073,927	−53.5%	21+	before history	1.66%
BKNG	Booking Holdings Inc. Consumer Cyclical	Reduced	1,918	-2,446	$8,836,053	−59.2%	21+	before history	1.62%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	16,077	-18,625	$8,562,288	−45.6%	21+	before history	1.57%
SCHW	Schwab Charles Corp Financial Services	Reduced	105,850	-131,896	$8,285,938	−52.9%	21+	before history	1.52%
		Reduced	180,530	-4,833	$7,358,402	−11.6%	21+	before history	1.35%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	45,585	-45,034	$7,235,707	−33.7%	21+	before history	1.33%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	29,387	-31,503	$7,208,631	−50.6%	21+	before history	1.32%
MOAT	VanEck Morningstar Wide Moat ETF	Reduced	77,211	-25,200	$6,794,568	−28.5%	5	unpriced	1.25%
V	Visa Inc. Financial Services	Reduced	18,623	-24,520	$6,526,616	−52.1%	21+	before history	1.20%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	32,222	-47,111	$6,130,557	−64.8%	21+	before history	1.12%
ELV	Elevance Health, Inc. Healthcare	Reduced	13,982	-15,763	$6,081,610	−44.6%	6	$462.41	1.12%
WFC	Wells Fargo & Company Financial Services	Reduced	84,523	-92,733	$6,067,906	−51.3%	21+	before history	1.11%
KMX	Carmax Inc Consumer Cyclical	Reduced	70,668	-86,117	$5,506,450	−57.0%	21+	before history	1.01%
GOOGL	Alphabet Inc. Communication Services	Reduced	34,683	-52,203	$5,363,379	−67.4%	21+	before history	0.98%
CMCSA	Comcast Corp Communication Services	Reduced	138,002	-141,740	$5,092,267	−51.5%	21+	before history	0.93%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	51,808	-73,659	$5,081,846	−55.6%	21+	before history	0.93%
MA	Mastercard Inc Financial Services	Reduced	9,175	-13,744	$5,029,001	−58.3%	21+	before history	0.92%
BDX	Becton Dickinson & Co Healthcare	Reduced	21,282	-21,693	$4,874,854	−50.0%	16	unpriced	0.89%
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	Reduced	58,842	-167,188	$4,606,151	−73.6%	21+	before history	0.85%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	27,663	-40,684	$4,592,058	−66.0%	19	$94.01	0.84%
USHY	iShares Broad USD High Yield Corporate Bond ETF	Reduced	115,938	-102,901	$4,267,677	−47.0%	21+	before history	0.78%
MDT	Medtronic plc Healthcare	Reduced	46,699	-49,830	$4,196,372	−45.6%	15	$85.96	0.77%
GOOG	Alphabet Inc. Communication Services	Reduced	26,175	-22,589	$4,089,320	−56.0%	21+	before history	0.75%
XOM	ExxonMobil Holdings Corp Energy	Reduced	34,363	-37,480	$4,086,791	−47.1%	21+	before history	0.75%
CHKP	Check Point Software Technologies Ltd Technology	Reduced	17,813	-26,917	$4,059,938	−51.4%	7	$136.27	0.74%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	13,422	-19,022	$3,958,416	−57.9%	13	$275.71	0.73%
IQV	Iqvia Holdings Inc. Healthcare	Reduced	22,343	-32,336	$3,939,070	−63.3%	21+	before history	0.72%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Reduced	78,929	-66,737	$3,916,456	−46.4%	21+	before history	0.72%
SCHB	Schwab U.S. Broad Market ETF	Reduced	175,180	-107,082	$3,771,625	−41.1%	16	unpriced	0.69%
ENB	Enbridge Inc Energy	Reduced	82,024	-96,515	$3,634,483	−52.0%	21+	before history	0.67%
COR	Cencora, Inc. Healthcare	Reduced	12,787	-18,829	$3,555,936	−49.9%	21+	before history	0.65%
DIS	Walt Disney Co Communication Services	Reduced	35,485	-50,581	$3,502,369	−63.5%	21+	before history	0.64%
FISV	Fiserv Inc	Reduced	14,113	-19,462	$3,116,573	−54.8%	18	$119.78	0.57%
ORCL	Oracle Corp Technology	Reduced	21,118	-30,265	$2,952,507	−65.5%	21+	before history	0.54%
ETR	Entergy Corp Utilities	Reduced	34,190	-43,531	$2,922,903	−50.4%	5	$51.03	0.54%
QCOM	Qualcomm Inc Technology	Reduced	18,601	-25,833	$2,857,299	−58.1%	21+	before history	0.52%
CRM	Salesforce, Inc. Technology	Reduced	10,348	-15,403	$2,776,989	−67.7%	17	$231.37	0.51%
COP	Conocophillips Energy	Reduced	25,988	-11,438	$2,729,259	−26.5%	8	$114.73	0.50%
ADBE	Adobe Inc. Technology	Reduced	7,066	-9,896	$2,710,022	−64.1%	15	$447.95	0.50%
DEO	Diageo PLC Consumer Defensive	Reduced	25,758	-36,698	$2,699,180	−66.0%	5	$143.93	0.50%
IXUS	iShares Core MSCI Total International Stock ETF	Reduced	37,060	-30,182	$2,587,158	−41.8%	16	unpriced	0.47%
UL	Unilever PLC Consumer Defensive	Reduced	43,375	-38,638	$2,585,566	−44.5%	21+	before history	0.47%

Showing the top 50 of 134 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.