FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person *   Armour Timothy K 2. Date of Event Requiring Statement (Month/Day/Year) 05/02/2005 3. Issuer Name and Ticker or Trading Symbol Morningstar, Inc. [MORN] (Last) (First) (Middle) C/O MORNINGSTAR, INC., 225 WEST WACKER DRIVE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Managing Director 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) CHICAGO, IL 60606 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 150,000 D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	  (1)	06/30/2008	Common Stock	4,893	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2008	Common Stock	4,647	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2008	Common Stock	9,294	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2008	Common Stock	9,786	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	04/15/2008	Common Stock	240,000	$ 2	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2009	Common Stock	3,963	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2009	Common Stock	8,022	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2009	Common Stock	3,273	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2009	Common Stock	6,546	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	05/01/2010	Common Stock	250,000	$ 14.13	D	Â
Stock Option (Right to Buy)	  (2)	05/01/2011	Common Stock	7,500	$ 14.13	D	Â
Stock Option (Right to Buy)	  (3)	05/01/2012	Common Stock	5,000	$ 10.95	D	Â
Stock Option (Right to Buy)	  (4)	05/01/2013	Common Stock	10,000	$ 8.57	D	Â
Stock Option (Right to Buy)	  (5)	12/01/2014	Common Stock	25,000	$ 14.96 (6)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Armour Timothy K C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO, IL 60606	Â	Â	  Managing Director	Â

Signatures

/s/ Peter Olson, by power of attorney		05/02/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Immediately exercisable.
(2)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2002.
(3)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2003.
(4)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2004.
(5)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2005.
(6)	The exercise price is determined by the daily indexing of the fair market value of the shares on the grant date ($14.70) against the 10-Year U.S. Treasury Bond Rate on November 15, 2004, compounded annually. Therefore the exercise price is subject to change throughout the life of the option. On April, 30, 2005, the exercise price was $14.96.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.