UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K Annual Report Pursuant to Section 13 Or 15(d) of the Securities Exchange Act of 1934 for the Fiscal Year Ended December 31, 2010 or Transition Report Pursuant to Section 13 Or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 000-51280 MORNINGSTAR, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) 22 West Washington Street Chicago, Illinois 60602 (Address of Principal Executive Offices) 312-696-6000 (Registrant’s Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:  None 6 Illinois (State or Other Jurisdiction of Incorporation or Organization) Title of Each Class Common stock, no par value 36-3297908 (I.R.S. Employer Identification Number) Name of Each Exchange on Which Registered The NASDAQ Stock Market LLC $_{Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes}$P$_{ No}$ P $_{Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes}$P$_{ No}$ P Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. $_{Yes}$P$_{ No}$ P Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and $_{post such files). Yes}$P$_{ No}$ P Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant’s knowledge,  $_{in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. }$P Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large  accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one): $_{Large accelerated filer }$P$_{ }$ $_{Accelerated filer }$P$_{ }$ $_{Non-accelerated filer }$P$_{ }$ $_{Smaller reporting company }$P (Do not check if a smaller reporting company) $_{Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes }$P$_{ No }$ P The aggregate market value of shares of common stock held by non-affiliates of the Registrant as of June 30, 2010 was $979,234,772. As of February 18, 2011, there were 49,977,816  shares of the Registrant’s common stock, no par value, outstanding. Documents Incorporated by Reference Certain parts of the Registrant’s Definitive Proxy Statement for the 2011 Annual Meeting of Shareholders are incorporated into Part III of this Form 10-K. 6 6 6 6 6 6 6 Morningstar, Inc. 2010 Annual Report 25