<SEC-DOCUMENT>0001104659-26-089888.txt : 20260803
<SEC-HEADER>0001104659-26-089888.hdr.sgml : 20260803
<ACCEPTANCE-DATETIME>20260803173019
ACCESSION NUMBER:		0001104659-26-089888
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260803
DATE AS OF CHANGE:		20260803

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Morningstar, Inc.
		CENTRAL INDEX KEY:			0001289419
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				363297908
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81390
		FILM NUMBER:		261234658

	BUSINESS ADDRESS:	
		STREET 1:		22 WEST WASHINGTON STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
		BUSINESS PHONE:		(312) 696-6000

	MAIL ADDRESS:	
		STREET 1:		22 WEST WASHINGTON STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mansueto Daniel
		CENTRAL INDEX KEY:			0002047675
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	MAIL ADDRESS:	
		STREET 1:		C/O MORNINGSTAR, INC.
		STREET 2:		22 WEST WASHINGTON STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001104659-24-127182</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Mansueto Daniel -->
          <cik>0002047675</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, no par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>07/29/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001289419</issuerCik>
        <issuerName>Morningstar, Inc.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>617700109</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>22 West Washington Street</com:street1>
          <com:city>Chicago</com:city>
          <com:stateOrCountry>IL</com:stateOrCountry>
          <com:zipCode>60602</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Daniel Mansueto</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>3680796.00</soleVotingPower>
        <sharedVotingPower>71250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>71250.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>3752046.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>10.0</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Line 5 consists of shares of Common Stock held of record by grantor retained annuity trusts for which Reporting Person serves as the voting agent over the shares.

Lines 6 and 8 consist of shares of Common Stock held of record by a trust, for which Reporting Person serves as the trustee.

Lines 9 and 11 consist of shares of Common Stock held of record by grantor retained annuity trusts for which Reporting Person serves as the voting agent over the shares and shares of Common Stock held of record by a trust, for which Reporting Person serves as the trustee.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Morningstar, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>22 West Washington Street Chicago, IL, 60602</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Daniel Mansueto</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>907 Westwood Boulevard, #1026
Los Angeles, CA 90024</principalBusinessOfficeOrResidenceAddress>
        <citizenship>U.S.A.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>3,752,046</amountBeneficiallyOwned>
        <classPercent>10.0</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>3,680,796(1)

(1) Consists of shares of Common Stock held of record by grantor retained annuity trusts for which Reporting Person serves as the voting agent over the shares.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>71,250(2)

(2) Consists of shares of Common Stock held of record by a trust, for which Reporting Person serves as the trustee</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>71,250(2)

(2) Consists of shares of Common Stock held of record by a trust, for which Reporting Person serves as the trustee</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Daniel Mansueto</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Daniel Mansueto</signature>
        <title>Daniel Mansueto</title>
        <date>08/03/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
