Morningstar, Inc.

Morningstar, Inc. is an American financial services firm headquartered in Chicago, Illinois, founded in 1984 by Joe Mansueto. The company's core business revolves around providing independent investment insights, research, and investment management services. Its mission is to empower investors by removing friction, offering independent research, investor-first tools, and long-term portfolio strategies, ultimately clearing the way for investors to achieve their financial goals.

Morningstar offers a wide array of products and services to both retail and institutional investors, financial advisors, asset managers, and retirement plan providers. Key offerings include the Morningstar Direct Platform, PitchBook for private capital markets data, Morningstar Credit, Morningstar Wealth, Morningstar Retirement, and Morningstar Investor. The company also provides Morningstar Indexes and ESG-focused solutions through Morningstar Sustainalytics. Its revenue is primarily generated from licensed-based products, followed by asset-based and transaction-based segments.

Morningstar maintains a significant market position, with its research and recommendations considered influential within the asset management industry. As of March 31, 2023, its asset management division managed over US$295 billion. Recent initiatives include expanding AI integrations with Microsoft to bring investment intelligence into enterprise workflows, launching daily Collateralized Loan Obligation (CLO) indexes, and developing public/private model portfolios in collaboration with firms like Apollo, Franklin Templeton, and J.P. Morgan Asset Management. Kunal Kapoor serves as the CEO, with Joe Mansueto as chairman.