MRSH

MARSH & MCLENNAN COMPANIES, INC.

Ticker: MRSHFinancialsInsuranceS&P 500
HQ NEW YORK, NYCIK 62709FY end 12-31Book / share $31.37Shares 484M
Revenue (FY)
$26.98B+10.32%
TTM $27.95B
Op. margin
23.06%-0.72%
TTM 21.62%
Net income
$4.23B+2.84%
TTM $4.07B
Operating cash
$5.29B+23.01%
TTM $5.08B
Free cash flow
$5.00B+25.46%
TTM $4.77B
Return on equity
27.55%-2.88%
TTM 26.21%
Debt / equity
1.30-0.20%
TTM 1.35
Shares outstanding
494.0M-0.40%
TTM 484.0M

The business

Marsh & McLennan Companies, Inc. (NYSE: MMC) is a global leader in risk, reinsurance and capital, people and investments, and management consulting. The company operates through two primary segments: Risk and Insurance Services, which accounts for approximately 64 percent of total revenue, and Consulting, which represents approximately 36 percent of revenue.

The Risk and Insurance Services segment comprises Marsh Risk and Guy Carpenter. Marsh Risk is the world's leading insurance broker and risk advisor, offering risk management, insurance broking, insurance program management, risk consulting, and alternative risk financing services across 130 countries. The segment includes Marsh McLennan Agency (MMA), which provides business insurance, employee health and benefits, retirement and wealth management solutions, and has completed more than 135 acquisitions since 2009. Guy Carpenter operates as the company's reinsurance intermediary and advisor, providing specialized reinsurance broking, strategic advisory, actuarial services, and analytics solutions globally.

The Consulting segment operates through Mercer and Marsh Management Consulting. Mercer delivers advice, solutions and products addressing health, wealth, and career needs of organizations and their workforces, managing approximately 692 billion dollars in assets worldwide. Marsh Management Consulting comprises Oliver Wyman, a management consulting firm specializing in actuarial, AI transformation, climate and sustainability, customer innovation, finance, risk and restructuring, and mergers and acquisitions services; Lippincott, which specializes in brand strategy and design; and NERA Economic Consulting, providing economic analysis for complex business and legal issues.

As of December 31, 2025, the company employed more than 95,000 colleagues worldwide, with approximately 55,700 in Risk and Insurance Services and 29,100 in Consulting. The company generated annual revenue of 27 billion dollars and serves clients in 130 countries. Marsh operates through major brands including Marsh Risk, Guy Carpenter, Mercer, Oliver Wyman, Lippincott, and NERA Economic Consulting. The company's website is www.corporate.marsh.com.

Sector
Financials
Industry
Insurance
HQ
NEW YORK, NY
FY end
12-31
CIK
62709
SIC
6411
Financial performance · annual
20132025
$-2.79B$5.59B$13.97B$22.36B$30.74B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds MARSH & MCLENNAN COMPANIES, INC. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

930
funds hold it
2 of 35
superinvestors hold it
$34.15B
fund-held value
43.1%
of shares held by funds
27
bond issues held by funds

Top fund holders

Fund% of fundValue
Washington Mutual Investors Fund
AWSHX
1.57%$3.36B
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.11%$2.55B
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.12%$2.08B
iShares Core S&P 500 ETF
IVV · iShares Trust
0.12%$1.10B
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.12%$991.07M

Superinvestors in MARSH & MCLENNAN COMPANIES, INC.

Bill NygrenINCREASED +68.1%
Harris Associates (Oakmark)
1.9%
Tom GaynerUNCHANGED
Markel Group (Markel-Gayner)
1.0%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 27 issues of MARSH & MCLENNAN COMPANIES, INC.'s debt, $3.06B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.83%, maturing 20262055.

IssueCouponMaturesFundsFund-held
MARSH & MCLENNAN COS INC SR UNSEC 5.0% 03-15-355.000%2035-03-15101$672.20M
Marsh & McLennan Cos Inc4.650%2030-03-1571$287.52M
Marsh & McLennan Cos Inc4.850%2031-11-1563$281.68M
Marsh & McLennan Cos Inc5.400%2055-03-1584$244.65M
Marsh & McLennan Cos Inc4.380%2029-03-1575$221.32M
Marsh & McLennan Cos Inc4.950%2036-03-1598$208.31M
Marsh & McLennan Cos., Inc.4.366%Floating2027-11-0833$128.79M
Marsh & McLennan Cos Inc4.550%2027-11-0866$126.53M
MRSH 5.7 09/15/535.700%2053-09-1559$105.00M
MARSH & MCLENNAN4.900%2049-03-1563$100.63M

The 10 largest by fund-held value, of 27.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of statements, narrative and filings — queryable over MCP.

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15 years of MARSH & MCLENNAN COMPANIES, INC.'s financials

Income statement, balance sheet and cash flow across 15 years, every filing with its disclosures, and each number traceable to the filing it came from — free with an account, no card required.

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