The Moat Index

The widest moats in the scored universe.

All 45 scored Other companies — scored nightly from primary SEC filings, 0–100 on five investor questions. Higher means a more durable business. The method is fully public; the full universe is in the A–Z directory and the sector hubs.

Current score records: moat-index@2.0.0.

The Other hub: stats, leaders, and quality on sale →

The map — moat vs. price · Other

Dividers sit at Moat Score 80 (a Wide moat) and at 10% below conservative value — the same bars the methodology uses. The x-axis starts at 55 because this set is the top of the Index; the vertical scale is compressed beyond ±25% (every tick shows its true value), and anything priced more than 26× value sits on the "≤ −2500%" line — hover a dot (or open the table) for its exact reading. 17 companies have no recent price data and aren't plotted — the table view lists them.

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All 45 scored · Other

#	Company	Ticker	Sector	Mkt cap	Moat Score	Moat	Price vs. high estimate
1	MARKETAXESS HOLDINGS INC.	MKTX	Other	$4.0B	95	Wide moat	15% above high estimate
2	MORNINGSTAR, INC.	MORN	Other	$6.6B	90	Wide moat	51% above high estimate
3	Federated Hermes, Inc.	FHI	Other	$4.3B	87	Wide moat	17% below high estimate
4	Houlihan Lokey, Inc.	HLI	Other	—	84	Wide moat	No price data
5	Artisan Partners Asset Management Inc.	APAM	Other	$3.2B	84	Wide moat	34% below high estimate
6	ENDI CORP.	ENDI	Other	—	83	Wide moat	No price data
7	VIRTUS INVESTMENT PARTNERS, INC.	VRTS	Other	$1.1B	81	Wide moat	70% below high estimate
8	COHEN & STEERS, INC.	CNS	Other	$4.1B	79	Narrow moat	46% above high estimate
9	STIFEL FINANCIAL CORP	SF	Other	—	78	Narrow moat	No price data
10	WisdomTree, Inc.	WT	Other	$2.9B	78	Narrow moat	284% above high estimate
11	SEI INVESTMENTS COMPANY	SEIC	Other	$11.9B	78	Narrow moat	21% above high estimate
12	CME GROUP INC.	CME	Other	—	72	Narrow moat	No price data
13	Cboe Global Markets, Inc.	CBOE	Other	$28.7B	71	Narrow moat	91% above high estimate
14	GCM Grosvenor Inc.	GCMG	Other	$2.5B	71	Narrow moat	883% above high estimate
15	Victory Capital Holdings, Inc.	VCTR	Other	$6.3B	70	Narrow moat	80% above high estimate
16	Tradeweb Markets Inc.	TW	Other	$20.9B	69	Narrow moat	118% above high estimate
17	Acadian Asset Management Inc.	AAMI	Other	$3.0B	68	Narrow moat	67% below high estimate
18	OPPENHEIMER HOLDINGS INC.	OPY	Other	$1.3B	66	Narrow moat	9% below high estimate
19	BlackRock, Inc.	BLK	Other	$161.0B	66	Narrow moat	144% above high estimate
20	Lazard, Inc.	LAZ	Other	$4.9B	66	Narrow moat	56% above high estimate
21	VALUE LINE, INC.	VALU	Other	$363.7M	65	Narrow moat	50% above high estimate
22	BRC Group Holdings, Inc.	RILY	Other	$216.0M	62	Narrow moat	No price data
23	HENNESSY ADVISORS, INC.	HNNA	Other	$78.5M	58	Shallow moat	14% below high estimate
24	Silvercrest Asset Management Group Inc.	SAMG	Other	$86.3M	58	Shallow moat	35% below high estimate
25	HORIZON KINETICS HOLDING CORPORATION	HKHC	Other	$521.8M	57	Shallow moat	No price data
26	INTERCONTINENTAL EXCHANGE, INC.	ICE	Other	$78.6B	56	Shallow moat	82% above high estimate
27	Cohen & Co Inc.	COHN	Other	$28.4M	55	Shallow moat	No price data
28	FREEDOM HOLDING CORP.	FRHC	Other	$9.8B	54	Shallow moat	330% above high estimate
29	Nasdaq, Inc.	NDAQ	Other	$51.4B	54	Shallow moat	154% above high estimate
30	FRANKLIN RESOURCES, INC.	BEN	Other	$17.0B	51	Shallow moat	73% above high estimate
31	Siebert Financial Corp.	SIEB	Other	$67.1M	51	Shallow moat	13% below high estimate
32	Abacus Global Management, Inc.	ABX	Other	$1.0B	50	Shallow moat	310% above high estimate
33	WESTWOOD HOLDINGS GROUP, INC.	WHG	Other	—	45	Shallow moat	No price data
34	StoneX Group Inc.	SNEX	Other	$3.9B	44	Shallow moat	44% above high estimate
35	AlTi Global, Inc.	ALTI	Other	—	40	No moat	No price data
36	Ridgepost Capital, Inc.	RPC	Other	—	39	No moat	No price data
37	Daxor Corporation	DXR	—	$44.2M	38	No moat	No price data
38	TOP Financial Group Limited	TOP	Other	$82.7M	38	No moat	No price data
39	Miami International Holdings, Inc.	MIAX	Other	$3.6B	38	No moat	No price data
40	DOMINARI HOLDINGS INC.	DOMH	Other	$45.6M	36	No moat	No price data
41	U S GLOBAL INVESTORS INC	GROW	Other	$31.6M	33	No moat	10% below high estimate
42	Associated Capital Group, Inc.	ACGP	Other	—	32	No moat	No price data
43	AI FINANCIAL CORPORATION	AIFC	Other	$64.6M	29	No moat	No price data
44	Triller Group Inc.	ILLR	Other	$226.1M	29	No moat	No price data
45	Invesco Ltd.	IVZ	Other	$13.4B	23	No moat	85% above high estimate

Scores reflect business quality, not buy/sell signals. Sector labels are derived from SEC SIC codes and can differ from GICS classifications. Educational only — not investment advice. See the methodology and disclaimer.