Morningstar Announces Winners for the 2025 U.S. Morningstar Awards for Investing Excellence

Top fund managers and a leading asset manager recognized for outstanding performance and investor-first practices

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investing insights, today announced the winners of the 2025 U.S. Morningstar Awards for Investing Excellence. The awards recognize portfolio managers and asset management firms that demonstrate excellent investment skill, the courage to differ from the consensus to benefit investors, and a commitment to aligning their interests with those of their investors.

The 2025 winners are:

• Outstanding Portfolio Manager – Equity: Will Danoff, Fidelity
• Outstanding Portfolio Manager – Fixed Income: Bryan Krug, Artisan Partners
• Outstanding Portfolio Manager – Allocation: David Giroux, T. Rowe Price
• Exemplary Stewardship (Firmwide): Dimensional Fund Advisors

“At a time of complex and uncertain markets, investor outcomes rely on sound judgment, skilled active management, and strong stewardship,” said Timothy Strauts, head of manager research, North America. “This year’s award winners have delivered impressive results by staying grounded in their research-driven investment processes. We’re proud to recognize their work and the value they’ve created for investors.”

Read Morningstar’s profile on each winner and highlights of their work on Morningstar.com.

Live Webinar Today

Morningstar is pleased to host a live webinar featuring the award winners today at 1 p.m. CT. Register to join the conversation.

Methodology

Morningstar’s manager research analysts conduct in-depth qualitative analyses to select nominees and, subsequently, vote to determine award winners.

Morningstar’s Outstanding Portfolio Manager Award recognizes an individual or team who has produced exceptional returns over the long term. We are presenting equity, fixed income, and allocation awards. To qualify, a manager’s strategy must currently earn a Morningstar Medalist Rating of Gold or Silver for at least one vehicle and/or share class in the appropriate asset class (equity, fixed income, or allocation).

Morningstar presents the Exemplary Stewardship Award to an asset manager that has shown an unwavering focus on serving the best interests of investors. To qualify for the award, the firm must have received a Parent Pillar rating of High or Above Average. The Parent Pillar rating measures the quality of the firm’s care of investors’ capital. The firm must demonstrate an investor-focused corporate culture and an alignment of interests between investors and the people who control the destiny of the investment strategies.

About Morningstar

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $341 billion in AUMA as of March 31, 2025. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X @MorningstarInc.

Morningstar’s Manager Research Group

Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Morningstar Manager Research provides independent, fundamental analysis on managed investment strategies. Morningstar views are expressed in the form of Morningstar Medalist Ratings, which are derived through research of three key pillars—People, Process, and Parent. The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. A global research team issues detailed research reports on strategies that span vehicle, asset class, and geography.

Medalist Ratings are not statements of fact, nor are they credit or risk ratings, and should not be used as the sole basis for investment decisions. A Medalist Rating is not intended to be nor is a guarantee of future performance. This press release is for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities.

©2025 Morningstar, Inc. All rights reserved.

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