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MORNINGSTAR INC. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and MORNINGSTAR INC.’s Form 8-K, filed 2025-05-14 (Item 5.07 on EDGAR). Page generated 02 October 2026.

  • 15Reported items
  • 441Asset managers
  • 5,420Fund votes
  • 2025-05-09Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore MORNINGSTAR INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by MORNINGSTAR INC.

These tallies are MORNINGSTAR INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-14 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

MORNINGSTAR INC. — official shareholder meeting results, meeting held 2025-05-09
Ballot itemForAgainst AbstainWithheldBroker non-votesOutcome
Elect Director: Joe Mansueto 37,686,395351,38314,646 --1,385,885 Majority: yes
Elect Director: Kunal Kapoor 37,836,064201,54614,814 --1,385,885 Majority: yes
Elect Director: Robin Diamonte 37,437,472567,38447,568 --1,385,885 Majority: yes
Elect Director: Cheryl Francis 36,202,6711,816,40433,349 --1,385,885 Majority: yes
Elect Director: Steve Joynt 37,486,178550,72315,523 --1,385,885 Majority: yes
Elect Director: Steve Kaplan 36,060,6141,959,19832,612 --1,385,885 Majority: yes
Elect Director: Gail Landis 37,165,363840,52446,537 --1,385,885 Majority: yes
Elect Director: Bill Lyons 35,439,4072,597,67815,339 --1,385,885 Majority: yes
Elect Director: Doniel Sutton 37,568,715415,39068,319 --1,385,885 Majority: yes
Elect Director: Caroline Tsay 37,410,173597,34744,904 --1,385,885 Majority: yes
Morningstar's executive compensation was approved, on an advisory basis, with the voting as follows: 37,475,380547,56329,481 --1,385,885 Majority: yes
The appointment of KPMG as Morningstar's independent registered public accounting firm for 2025 was ratified with the voting as follows: 39,245,136184,5818,592 ---- Majority: yes

Source: MORNINGSTAR INC., Form 8-K, filed with the SEC on 2025-05-14 — read the filing on EDGAR.

How asset managers voted at the MORNINGSTAR INC. 2024-2025 meeting

Each item below shows how the 441 asset managers that disclosed a MORNINGSTAR INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of MORNINGSTAR INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Advisory vote to approve executive compensation of the Company's named executive officers.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 7 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,475,380AGAINST: 547,563

MORNINGSTAR INC.’s own tally for this item (“Morningstar's executive compensation was approved, on an advisory basis, with the voting as follows:”): 37,475,380 for, 547,563 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 419 asset managers below cast 98% of the shares they voted on this item FOR (27,843,136 for, 565,149 against).

FOR 98%
FOR: 27,843,136 (97.9%)AGAINST: 565,149 (2.0%)ABSTAIN: 5,837 (0.0%)NOT VOTED: 14,880 (0.1%)
Largest asset managers voting on “Advisory vote to approve executive compensation of the Company's named executive officers.” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,171,4040 00For
BlackRock2,505,39414,504 00For
ATLANTA CAPITAL MANAGEMENT CO L L C1,961,9910 00For
Eaton Vance1,534,9890 00For
Fidelity1,345,0040 00For
Select Equity Group, L.P.1,193,8970 00For
BAMCO INC /NY/1,181,3300 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Wellington1,006,8330 00For
MASSACHUSETTS FINANCIAL SERVICES CO /MA/998,0300 00For
State Street991,65275 00For
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC907,7670 00For
MFS694,3270 00For
Virtus603,9480 00For
GEODE CAPITAL MANAGEMENT, LLC573,4220 00For
WASATCH ADVISORS LP515,2311,896 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
Charles Schwab390,2480 00For
Allspring391,9640 00For
Liontrust Investment Partners LLP306,7960 00For
Invesco289,0210 00For
Dimensional276,9670 00For
T. Rowe Price0267,927 00Against
Northern Trust205,64064 00For

Showing the 25 largest of 419 asset managers. See all 419 in the interactive database.

2. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Bill Lyons

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%
FOR: 35,439,407AGAINST: 2,597,678

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Bill Lyons”): 35,439,407 for, 2,597,678 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 83% for, 6% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 95% of the shares they voted on this item FOR (12,233,025 for, 616,911 against).

FOR 95%
FOR: 12,233,025 (95.2%)AGAINST: 616,911 (4.8%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,301444 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus603,948264 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford377,22531,684 00For
State Street188209,883 00Against
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial110,2228,396 00For
John Hancock105,0600 00For
TIAA093,757 00Against
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

3. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Caroline Tsay

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%
FOR: 37,410,173AGAINST: 597,347

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Caroline Tsay”): 37,410,173 for, 597,347 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99% of the shares they voted on this item FOR (12,674,606 for, 175,330 against).

FOR 99%
FOR: 12,674,606 (98.6%)AGAINST: 175,330 (1.4%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

4. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Cheryl Francis

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%
FOR: 36,202,671AGAINST: 1,816,404

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Cheryl Francis”): 36,202,671 for, 1,816,404 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 85% for, 4% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 97% of the shares they voted on this item FOR (12,503,463 for, 346,473 against).

FOR 97%
FOR: 12,503,463 (97.3%)AGAINST: 346,473 (2.7%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street188209,883 00Against
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial110,2228,396 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus70,1110 00For
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

5. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Doniel Sutton

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,568,715AGAINST: 415,390

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Doniel Sutton”): 37,568,715 for, 415,390 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1.0% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99.1% of the shares they voted on this item FOR (12,744,208 for, 105,458 against).

FOR 99.1%
FOR: 12,744,208 (99.1%)AGAINST: 105,458 (0.8%)ABSTAIN: 5,422 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus70,1110 00For
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

6. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Gail Landis

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%
FOR: 37,165,363AGAINST: 840,524

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Gail Landis”): 37,165,363 for, 840,524 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 87% for, 2% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99% of the shares they voted on this item FOR (12,674,606 for, 175,330 against).

FOR 99%
FOR: 12,674,606 (98.6%)AGAINST: 175,330 (1.4%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

7. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Joe Mansueto

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%
FOR: 37,686,395AGAINST: 351,383

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Joe Mansueto”): 37,686,395 for, 351,383 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 89% for, 0.9% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99.4% of the shares they voted on this item FOR (12,780,311 for, 69,625 against).

FOR 99.4%
FOR: 12,780,311 (99.4%)AGAINST: 69,625 (0.5%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National79,7530 00For
First Trust70,8580 00For
Parnassus70,1110 00For
Equitable67,0850 00For
Voya064,077 00Against
BNY Mellon55,3250 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

8. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Kunal Kapoor

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%
FOR: 37,836,064AGAINST: 201,546

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Kunal Kapoor”): 37,836,064 for, 201,546 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 89% for, 0.5% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99.9% of the shares they voted on this item FOR (12,844,118 for, 5,818 against).

FOR 99.9%
FOR: 12,844,118 (99.9%)AGAINST: 5,818 (0.0%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National79,7530 00For
First Trust70,8580 00For
Parnassus70,1110 00For
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon55,3250 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

9. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Robin Diamonte

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,437,472AGAINST: 567,384

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Robin Diamonte”): 37,437,472 for, 567,384 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99% of the shares they voted on this item FOR (12,674,194 for, 175,330 against).

FOR 99%
FOR: 12,674,194 (98.6%)AGAINST: 175,330 (1.4%)ABSTAIN: 5,152 (0.0%)THREE YEARS: 412 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National38,00241,751 00Against
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon37,75117,574 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

10. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Steve Joynt

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,486,178AGAINST: 550,723

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Steve Joynt”): 37,486,178 for, 550,723 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 99% of the shares they voted on this item FOR (12,660,463 for, 189,473 against).

FOR 98%
FOR: 12,660,463 (98.5%)AGAINST: 189,473 (1.5%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,0710 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco0119,362 00Against
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National79,7530 00For
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon55,3250 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

11. To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shareholders meeting and until their respective successors have been elected and qualified: Steve Kaplan

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%
FOR: 36,060,614AGAINST: 1,959,198

MORNINGSTAR INC.’s own tally for this item (“Elect Director: Steve Kaplan”): 36,060,614 for, 1,959,198 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 85% for, 5% against (89% of the company cast a for/against vote).

The 106 asset managers below cast 98% of the shares they voted on this item FOR (12,533,023 for, 316,913 against).

FOR 97%
FOR: 12,533,023 (97.5%)AGAINST: 316,913 (2.5%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “To elect ten directors nominated by the Company's Board of Directors to hold office until the next annual shar” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus604,2120 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street188209,883 00Against
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial110,2228,396 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National79,7530 00For
First Trust70,8580 00For
Parnassus070,111 00Against
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon55,3250 00For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

12. RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS MORNINGSTAR'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2025.

AUDIT-RELATEDMajority of the votes cast: yes

Combines 3 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 39,245,136AGAINST: 184,581

MORNINGSTAR INC.’s own tally for this item (“The appointment of KPMG as Morningstar's independent registered public accounting firm for 2025 was ratified with the voting as follows:”): 39,245,136 for, 184,581 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 92% for, 0.5% against (93% of the company cast a for/against vote).

The 104 asset managers below cast 99.9% of the shares they voted on this item FOR (12,834,380 for, 26 against).

FOR 99.9%
FOR: 12,834,380 (100.0%)AGAINST: 26 (0.0%)ABSTAIN: 5,152 (0.0%)
Largest asset managers voting on “RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS MORNINGSTAR'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard3,108,7460 00For
BlackRock1,583,4310 00For
Eaton Vance1,534,9890 00For
BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND)1,081,0000 00For
Fidelity908,8800 00For
MFS694,3270 00For
Virtus603,9480 00For
WASATCH FUNDS TRUST417,6270 00For
Hartford408,9090 00For
State Street210,04526 00For
Dimensional201,7760 00For
Charles Schwab193,5260 00For
Allspring148,5670 00For
Royce147,5430 00For
Invesco119,3620 00For
Lincoln Financial118,6180 00For
John Hancock105,0600 00For
TIAA93,7570 00For
T. Rowe Price92,6780 00For
Jackson National79,7530 00For
First Trust70,8580 00For
Parnassus70,1110 00For
Equitable67,0850 00For
Voya64,0770 00For
BNY Mellon55,3250 00For

Showing the 25 largest of 104 asset managers. See all 104 in the interactive database.

13. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,475,380AGAINST: 547,563

MORNINGSTAR INC.’s own tally for this item (“Morningstar's executive compensation was approved, on an advisory basis, with the voting as follows:”): 37,475,380 for, 547,563 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 16 asset managers below cast 99.9% of the shares they voted on this item FOR (453,631 for, 257 against).

FOR 93%7%
FOR: 453,631 (92.7%)AGAINST: 257 (0.1%)ABSTAIN: 35,442 (7.2%)
Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
JPMorgan168,9370 00For
Praesidium Investment Management Company, LLC101,4720 00For
COOPER INVESTORS PTY LTD94,3980 00For
NORDEA INVESTMENT MANAGEMENT AB58,1120 00For
Sone Capital Management, LLC10,9040 35,4420Abstain
Empower13,9630 00For
Dundas Partners LLP1,5220 00For
HC CAPITAL TRUST1,0760 00For
ALGERT GLOBAL LLC8900 00For
Coyle Financial Counsel LLC7260 00For
SIERRA SUMMIT ADVISORS LLC7260 00For
FAYEZ SAROFIM & CO4000 00For
Virtus2640 00For
Desjardins Global Asset Management Inc.0257 00Against
GuideStone2270 00For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma140 00For

14. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 2 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 37,475,380AGAINST: 547,563

MORNINGSTAR INC.’s own tally for this item (“Morningstar's executive compensation was approved, on an advisory basis, with the voting as follows:”): 37,475,380 for, 547,563 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 88% for, 1% against (89% of the company cast a for/against vote).

The 5 asset managers below cast 83% of the shares they voted on this item FOR (892 for, 181 against).

FOR 81%AGAINST 16%
FOR: 892 (81.2%)AGAINST: 181 (16.5%)NOT VOTED: 25 (2.3%)
Largest asset managers voting on “14A Executive Compensation” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Claret Asset Management Corp6760 00For
Focus Partners Wealth91181 00Against
GAMMA Investing LLC640 00For
MQS Management LLC610 00For
LEAVELL INVESTMENT MANAGEMENT, INC.00 00Not Voted

15. Ratify KPMG LLP as Auditors

AUDIT-RELATEDMajority of the votes cast: yes

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 39,245,136AGAINST: 184,581

MORNINGSTAR INC.’s own tally for this item (“The appointment of KPMG as Morningstar's independent registered public accounting firm for 2025 was ratified with the voting as follows:”): 39,245,136 for, 184,581 against, per its Form 8-K filed 2025-05-14 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 42,501,250 outstanding shares: 92% for, 0.5% against (93% of the company cast a for/against vote).

The 3 asset managers below cast 100% of the shares they voted on this item FOR (15,266 for, 0 against).

FOR 100%
FOR: 15,266 (100.0%)
Largest asset managers voting on “Ratify KPMG LLP as Auditors” at MORNINGSTAR INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Empower13,9630 00For
HC CAPITAL TRUST1,0760 00For
GuideStone2270 00For

Largest MORNINGSTAR INC. shareholders voting in 2024-2025

Ranked by the number of MORNINGSTAR INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 42,501,250 shares outstanding at the time of that meeting.

Top MORNINGSTAR INC. shareholders by shares voted, 2024-2025
#Asset manager % of shares outstanding
1Vanguard 7.46%
2BlackRock 5.93%
3ATLANTA CAPITAL MANAGEMENT CO L L C 4.62%
4Eaton Vance 3.61%
5Fidelity 3.16%
6Select Equity Group, L.P. 2.81%
7BAMCO INC /NY/ 2.78%
8BARON INVESTMENT FUNDS TRUST (f/k/a BARON ASSET FUND) 2.54%
9Wellington 2.37%
10MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 2.35%

Reported MORNINGSTAR INC. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

MORNINGSTAR INC. beneficial owners on record for the 2024-2025 proxy season
Holder % outstanding Disclosure
Joe Mansueto 35.94% DEF14A
Joseph D. Mansueto 35.08% 13G
Daniel Mansueto 8.84% 13G
BlackRock 6.36% 13F
Vanguard Group 6.26% 13F
Morgan Stanley 4.94% 13F
Wellington Management 2.54% 13F
State Street 2.00% 13F
Geode Capital 1.45% 13F
Millennium Management 1.27% 13F

Percentages above are of 42,501,250 shares outstanding, as reported by MORNINGSTAR INC. on its Form 10-Q dated 2025-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from MORNINGSTAR INC.’s 10-Q dated 2025-03-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At MORNINGSTAR INC.'s shareholder meeting held 2025-05-09, in the 2024-2025 proxy season, 441 asset managers reported how they voted in their SEC Form N-PX filings, covering 5,420 separate fund positions. Their filings are grouped here into 15 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Advisory vote to approve executive compensation of the Company's named executive officers. — FOR was 99% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: MORNINGSTAR INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-05-14.

MORNINGSTAR INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.