Morningstar
MORN
451 hedge funds and large institutions have $5.78B invested in Morningstar in 2025 Q3 according to their latest regulatory filings, with 52 funds opening new positions, 163 increasing their positions, 178 reducing their positions, and 75 closing their positions.
688% more call options, than puts
Call options by funds: $15.7M | Put options by funds: $2M
8% less repeat investments, than reductions
Existing positions increased: 163 | Existing positions reduced: 178
1.64% less ownership
Funds ownership: 60.72% → 59.08% (-1.6%)
6% less funds holding
Funds holding: 480 → 451 (-29)
28% less capital invested
Capital invested by funds: $8.05B → $5.78B (-$2.27B)
31% less first-time investments, than exits
New positions opened: 52 | Existing positions closed: 75
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Select Equity Group
New York
|
+$264M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$83.8M |
| 3 |
Renaissance Technologies
New York
|
+$52.1M |
| 4 |
Voloridge Investment Management
Jupiter,
Florida
|
+$39.1M |
| 5 |
Two Sigma Investments
New York
|
+$33.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$201M |
| 2 |
Millennium Management
New York
|
-$137M |
| 3 |
Goldman Sachs
New York
|
-$74.4M |
| 4 |
WA
Wasatch Advisors
Salt Lake City,
Utah
|
-$72.7M |
| 5 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$66.2M |
MORN Hedge Fund Activity: Q3 2025 in Review
451 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in Morningstar (MORN) for Q3 2025, worth a combined $5.78B — down 28% from $8.05B a quarter earlier.
Sellers outnumbered buyers: 75 funds closed out of MORN and 52 opened new positions — a net loss of 23 holders — while 178 trimmed existing stakes and 163 added.
The largest buyer was Select Equity Group, adding an estimated $264M. The largest seller was Bank of America, cutting an estimated $201M.
- 451 institutional investors held Morningstar (MORN) as of Q3 2025, down from 480 in Q2 2025.
- Funds reported $5.78B of Morningstar stock for Q3 2025, down 28% quarter-over-quarter.
- 52 funds opened new Morningstar positions in Q3 2025 and 75 closed out, a net change of -23 holders.
- The largest Morningstar buyer in Q3 2025 was Select Equity Group, an estimated $264M added.
- The largest Morningstar seller in Q3 2025 was Bank of America, an estimated $201M sold.
Based on aggregated 13F filings for Q3 2025.