---
schema_version: "secwatch.filing_event.v1"
accession: "0001289419-25-000178"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2025-12-23T23:59:59+00:00"
generated_at: "2026-05-16T12:13:42.132439+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Morningstar says PitchBook growth increasingly from existing large AUM accounts

## Summary
- 5-year growth driven by new logos and net renewals; recent shift to expansion with large AUM accounts.
- Price increases applied to new clients and at renewals contributed to revenue growth.
- PitchBook expects expansion with existing large AUM accounts to outpace new logo growth.
- Opportunities include capturing remaining large AUM logos and adding small/mid-sized firms and adjacent segments.

## SEC filing metadata
- accession: 0001289419-25-000178
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2025-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000128941925000178/0001289419-25-000178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000128941925000178/morn-20251223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001289419-25-000178
- JSON: https://secwatch.observer/filing/0001289419-25-000178.json
- Plain text: https://secwatch.observer/filing/0001289419-25-000178.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.