MARSH & MCLENNAN COS INC (MRSH)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
Institutions report 439,110,978 shares against 477,211,268 outstanding. Shares only - option lines are excluded, which is why this can be compared with the company at all. The count comes from the cover page of the company's own most recent report, so it is dated when that was filed rather than at quarter end. A figure this high can overstate: where an adviser and a sub-adviser both report the same shares, both are counted.
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| BlackRock, Inc. | $6.6B | 39,502,046 | 0.10% | 8q | -6.1%-$426.6M |
| VANGUARD CAPITAL MANAGEMENT LLC | $5.2B | 31,472,575 | 0.11% | 2q | HELD |
| STATE STREET CORP | $3.7B | 22,401,676 | 0.11% | 31q | +1.5%+$55.1M |
| Capital World Investors | $3.0B | 18,122,340 | 0.36% | 31q | +0.9%+$25.5M |
| WELLINGTON MANAGEMENT GROUP LLP | $2.8B | 16,975,238 | 0.49% | 31q | -2.3%-$65.9M |
| Capital International Investors | $2.6B | 15,729,457 | 0.54% | 31q | HELD |
| GEODE CAPITAL MANAGEMENT, LLC | $2.3B | 13,510,274 | 0.12% | 31q | +0.8%+$17.7M |
| PRICE T ROWE ASSOCIATES INC /MD/ | $2.2B | 13,438,662 | 0.22% | 31q | +22.4%+$410.4M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2.1B | 12,570,512 | 0.09% | 2q | +1.1%+$23.8M |
| Capital Research Global Investors | $1.8B | 10,973,649 | 0.26% | 31q | -2.9%-$54.6M |
| HARRIS ASSOCIATES L P | $1.4B | 8,687,496 | 1.92% | 2q | +68.1%+$586.4M |
| Artisan Partners Limited Partnership | $1.2B | 7,269,246 | 1.92% | 31q | +49.1%+$398.9M |
| FMR LLC | $1.2B | 6,954,123 | 0.05% | 31q | -31.7%-$537.8M |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $1.1B | 6,507,415 | 0.35% | 29q | -20.6%-$283.2M |
| MORGAN STANLEY | $1.1B | 6,314,085 | 0.06% | 35q | -2.5%-$26.7M |
| NORGES BANK | $1.0B | 6,255,525 | 0.10% | 32q | -25.4%-$355.2M |
| AMERIPRISE FINANCIAL INC | $922.1M | 5,535,138 | 0.19% | 31q | +0.8%+$7.8M |
| NORTHERN TRUST CORP | $814.7M | 4,888,165 | 0.09% | 31q | -1.5%-$12.8M |
| JPMORGAN CHASE & CO | $788.6M | 4,730,329 | 0.04% | 31q | -22.4%-$227.2M |
| Clearbridge Investments, LLC | $784.3M | 4,705,966 | 0.65% | 31q | -26.7%-$286.3M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $766.3M | 4,597,647 | 0.14% | 31q | -11.3%-$97.5M |
| Invesco Ltd. | $717.6M | 4,305,773 | 0.06% | 31q | +10.8%+$70.2M |
| GOLDMAN SACHS GROUP INC | $704.8M | 4,228,626 | 0.06% | 31q | +15.1%+$92.6M |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $695.0M | 4,170,110 | 0.31% | 7q | +20.7%+$119.3M |
| DEUTSCHE BANK AG\ | $685.6M | 4,113,644 | 0.20% | 34q | +11.1%+$68.2M |
| Ninety One UK Ltd | $661.9M | 3,971,522 | 1.48% | 31q | -1.4%-$9.6M |
| AMERICAN CENTURY COMPANIES INC | $646.3M | 3,877,741 | 0.29% | 31q | -8.4%-$59.4M |
| EdgePoint Investment Group Inc. | $636.7M | 3,820,196 | 4.81% | new | NEW |
| UBS Group AG | $600.6M | 3,603,522 | 0.08% | 31q | -23.7%-$186.3M |
| BANK OF AMERICA CORP /DE/ | $575.8M | 3,455,003 | 0.04% | 31q | -30.1%-$247.4M |
| Nuveen, LLC | $575.3M | 3,451,900 | 0.14% | 6q | -17.2%-$119.3M |
| Bank of New York Mellon Corp | $532.4M | 3,194,567 | 0.09% | 31q | -1.8%-$9.9M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $512.1M | 3,072,405 | 0.07% | 31q | +1.3%+$6.5M |
| Amundi | $480.7M | 2,884,376 | 0.12% | 21q | +25.5%+$97.6M |
| ROYAL BANK OF CANADA | $469.0M | 2,813,877 | 0.07% | 31q | -15.2%-$83.8M |
| Legal & General Group Plc | $465.6M | 2,793,483 | 0.10% | 31q | -8.9%-$45.5M |
| VANGUARD FIDUCIARY TRUST CO | $451.0M | 2,705,812 | 0.10% | 2q | -1.0%-$4.7M |
| AQR CAPITAL MANAGEMENT LLC | $432.1M | 2,607,451 | 0.15% | 31q | -29.0%-$176.7M |
| WELLS FARGO & COMPANY/MN | $418.4M | 2,510,228 | 0.07% | 31q | -2.7%-$11.5M |
| STIFEL FINANCIAL CORP | $368.7M | 2,212,398 | 0.31% | 31q | -4.1%-$15.8M |
| ALLIANCEBERNSTEIN L.P. | $357.5M | 2,061,247 | 0.12% | 31q | +4.0%+$13.9M |
| PRIMECAP MANAGEMENT CO/CA/ | $357.5M | 2,145,025 | 0.21% | 31q | +199.0%+$237.9M |
| W1M Asset Management Ltd | $348.2M | 2,090,489 | 3.19% | 6q | +3.3%+$11.1M |
| PARNASSUS INVESTMENTS, LLC | $341.3M | 2,047,623 | 0.91% | 17q | -7.4%-$27.1M |
| DIMENSIONAL FUND ADVISORS LP | $337.1M | 2,022,672 | 0.06% | 31q | -0.6%-$1.9M |
| Mawer Investment Management Ltd. | $311.9M | 1,871,159 | 2.12% | 31q | -46.2%-$267.4M |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $311.2M | 1,867,077 | 0.24% | 31q | +18.7%+$49.0M |
| Rathbones Group PLC | $288.8M | 1,733,034 | 1.06% | 31q | -36.1%-$163.5M |
| CANADA PENSION PLAN INVESTMENT BOARD | $267.6M | 1,605,850 | 0.15% | 31q | +98.3%+$132.7M |
| Beutel, Goodman & Co Ltd. | $262.3M | 1,573,890 | 1.93% | 2q | +101.8%+$132.4M |
| LAZARD ASSET MANAGEMENT LLC | $252.8M | 1,516,945 | 0.38% | 46q | -6.6%-$17.8M |
| Navera Investment Management Ltd. | $252.8M | 1,517,459 | 6.78% | 23q | -9.7%-$27.2M |
| BNP PARIBAS FINANCIAL MARKETS | $249.7M | 1,497,934 | 0.09% | 31q | -41.6%-$178.1M |
| FRANKLIN RESOURCES INC | $247.6M | 1,485,628 | 0.05% | 31q | -3.4%-$8.7M |
| Swiss National Bank | $226.5M | 1,359,000 | 0.12% | 31q | -5.5%-$13.1M |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $221.8M | 1,330,728 | 0.94% | 17q | +21.9%+$39.8M |
| FIRST TRUST ADVISORS LP | $219.9M | 1,319,512 | 0.13% | 31q | -1.0%-$2.1M |
| NIPPON LIFE INSURANCE CO | $218.6M | 1,311,350 | 3.62% | 31q | HELD |
| Assenagon Asset Management S.A. | $218.1M | 1,308,868 | 0.14% | 31q | +732.3%+$191.9M |
| Swedbank AB | $216.9M | 1,301,456 | 0.19% | 21q | +17.8%+$32.7M |
| Polar Capital Holdings Plc | $216.7M | 1,300,000 | 0.51% | 23q | +6.6%+$13.3M |
| DekaBank Deutsche Girozentrale | $207.5M | 1,193,291 | 0.35% | 31q | HELD |
| Mitsubishi UFJ Asset Management Co., Ltd. | $200.1M | 1,199,699 | 0.11% | 31q | +7.0%+$13.0M |
| RAYMOND JAMES FINANCIAL INC | $197.9M | 1,187,191 | 0.05% | 7q | -3.3%-$6.8M |
| CANADA LIFE ASSURANCE Co | $192.1M | 1,155,368 | 0.31% | 31q | -13.6%-$30.3M |
| National Pension Service | $188.1M | 1,128,564 | 0.12% | new | NEW |
| Sumitomo Mitsui Trust Group, Inc. | $183.4M | 1,100,656 | 0.10% | 31q | +0.6%+$1.1M |
| Vanguard Global Advisers, LLC | $183.2M | 1,099,122 | 0.09% | 2q | HELD |
| VANGUARD ASSET MANAGEMENT, Ltd | $181.6M | 1,089,768 | 0.12% | 2q | +11.2%+$18.2M |
| MARSHALL WACE, LLP | $173.9M | 1,043,399 | 0.14% | 3q | +72.4%+$73.1M |
| HSBC HOLDINGS PLC | $170.4M | 1,022,077 | 0.07% | 31q | +3.7%+$6.1M |
| ENVESTNET ASSET MANAGEMENT INC | $166.4M | 998,086 | 0.04% | 31q | -11.9%-$22.6M |
| JENSEN INVESTMENT MANAGEMENT INC | $164.2M | 984,904 | 3.98% | 21q | -14.4%-$27.7M |
| BARCLAYS PLC | $163.8M | 982,810 | 0.03% | 31q | -28.5%-$65.4M |
| Caisse de depot et placement du Quebec | $163.8M | 982,538 | 0.23% | 31q | +38.2%+$45.3M |
| STOREBRAND ASSET MANAGEMENT AS | $162.5M | 974,704 | 0.40% | 26q | +3.4%+$5.4M |
| Robeco Institutional Asset Management B.V. | $151.1M | 906,861 | 0.19% | 38q | +49.8%+$50.3M |
| RHUMBLINE ADVISERS | $148.7M | 892,176 | 0.11% | 31q | -1.1%-$1.7M |
| FIL Ltd | $148.0M | 887,945 | 0.11% | 31q | +2.4%+$3.4M |
| California Public Employees Retirement System | $144.2M | 865,316 | 0.08% | 31q | -21.8%-$40.1M |
| D. E. Shaw & Co., Inc. | $139.9M | 839,616 | 0.07% | 20q | -51.5%-$148.3M |
| TD Asset Management Inc | $133.4M | 800,370 | 0.12% | 31q | -14.8%-$23.2M |
| Markel Group Inc. | $127.3M | 763,500 | 0.97% | 31q | HELD |
| ACADIAN ASSET MANAGEMENT LLC | $124.7M | 748,439 | 0.15% | 31q | -11.3%-$15.9M |
| Capital International, Inc./CA/ | $123.3M | 739,907 | 0.86% | 31q | HELD |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $122.7M | 735,926 | 0.11% | 31q | +0.8%+$1.0M |
| MACKENZIE FINANCIAL CORP | $121.6M | 729,781 | 0.12% | 31q | +2.2%+$2.7M |
| JENNISON ASSOCIATES LLC | $113.9M | 683,273 | 0.07% | 26q | +207.0%+$76.8M |
| Cryder Capital Partners LLP | $108.2M | 649,418 | 6.82% | 5q | +10.2%+$10.0M |
| NATIXIS ADVISORS, LLC | $106.0M | 635,893 | 0.12% | 31q | -25.2%-$35.6M |
| Epoch Investment Partners, Inc. | $105.9M | 635,153 | 0.60% | 31q | -1.4%-$1.5M |
| PNC Financial Services Group, Inc. | $103.2M | 619,003 | 0.05% | 31q | -3.8%-$4.1M |
| BANK OF MONTREAL /CAN/ | $102.3M | 613,768 | 0.03% | 31q | +19.1%+$16.4M |
| DAVENPORT & Co LLC | $102.0M | 612,045 | 0.50% | 31q | -3.5%-$3.7M |
| PRINCIPAL FINANCIAL GROUP INC | $100.8M | 604,724 | 0.05% | 31q | -0.9%-$953.9K |
| JUPITER ASSET MANAGEMENT LTD | $97.3M | 588,501 | 0.48% | 2q | -5.5%-$5.6M |
| CITIGROUP INC | $95.1M | 570,878 | 0.03% | 31q | +9.0%+$7.9M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $86.5M | 514,651 | 0.13% | 7q | -7.4%-$6.9M |
| NEW YORK STATE COMMON RETIREMENT FUND | $85.9M | 515,312 | 0.11% | 31q | -6.3%-$5.8M |
| Pictet Asset Management Holding SA | $85.8M | 514,868 | 0.08% | 12q | +19.6%+$14.1M |
Showing the largest 100 of 1,516 reported holders. The count of 1,514 above leaves out 2 positions whose reported value failed our price check; they are listed here as filed.
Q2 2026 in brief
In Q2 2026, 1,514 managers that file Form 13F reported holding Marsh & Mclennan Cos Inc (MRSH), $73.3B in all, or about 92% of the shares outstanding. 142 managers opened a position and 188 sold out completely, against 1,560 holders the quarter before. Largest holders: Blackrock, Inc., Vanguard Capital Management Llc and State Street Corp. Largest new positions: Edgepoint Investment Group Inc. ($636.7M), National Pension Service ($188.1M) and Boston Partners ($76.4M).
Q2 2026 is the latest quarter whose 13F deadline has passed. A 13F shows long US stock positions at quarter end, filed up to 45 days later; an adviser and a sub-adviser can both report the same shares.
Tender offers and delisting
Schedules TO, 13E-3 and 14D-9 and Form 25 filed in the last 180 days. Price a share is read from the filing itself where it states one plainly; a marker means we found no figure we could stand behind, and the reason is on it.
| Filed | What | Filed by | Price a share | Source |
|---|---|---|---|---|
| 2026-09-21 | Delisting notice from the exchange | NEW YORK STOCK EXCHANGE LLC | - | filing |
What the insiders did
Open market purchases and sales reported on Form 4 in the last 180 days. Grants, option exercises and shares surrendered to cover tax are left out: they are compensation rather than a decision to buy or sell. Where a broker filled one order in tranches the lines are summed, because it was one decision.
Officers and directors
| Date | Insider | Role | Side | Shares | Value |
|---|---|---|---|---|---|
| 2026-09-02 | Doyle John Q | President and CEO | Sold | 16,656 | $3.1M |
| 2026-06-02 | Doyle John Q | President and CEO | Sold | 16,656 | $2.7M |
| 2026-07-23 | Yates Lloyd M | Director | Sold | 12,000 | $2.1M |
| 2026-07-28 | South Martin | Chief Client Officer | Sold | 7,100 | $1.3M |
| 2026-08-06 | Jones John Jude | Chief Marketing Officer | Sold | 6,500 | $1.2M |
| 2026-10-23 | Klisura Dean Michael | President & CEO, Marsh RE | Sold | 4,194 | $838.8K |
| 2026-10-23 | Mills Stacy | Vice President and Controller | Sold | 1,215 | $243.0K |
| 2026-09-02 | Brennan Katherine | SVP and General Counsel | Sold | 1,197 | $224.9K |
| 2026-07-29 | Beswick Paul | SVP, Chief Information Officer | Sold | 713 | $141.2K |
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 528 | $3.5B | 20,530,245 | 43 | 189 | 159 | 0.0% |
| Q2 2026 | 1,514 | $73.3B | 439,110,978 | 124 | 446 | 637 | 0.2% |
| Q1 2026 | 1,560 | $76.5B | 440,274,787 | 117 | 573 | 547 | 0.1% |
| Q4 2025 | 1,600 | $81.6B | 438,489,101 | 122 | 494 | 609 | 0.3% |
| Q3 2025 | 1,584 | $88.7B | 439,277,824 | 138 | 516 | 569 | 0.3% |
| Q2 2025 | 1,617 | $98.2B | 447,931,473 | 103 | 562 | 537 | 0.3% |
| Q1 2025 | 1,642 | $108.3B | 442,992,679 | 162 | 557 | 520 | 0.2% |
| Q4 2024 | 1,584 | $94.7B | 445,116,045 | 90 | 569 | 445 | 0.2% |
| Q3 2024 | 1,536 | $98.7B | 439,320,626 | 119 | 558 | 449 | 0.7% |
| Q2 2024 | 1,482 | $93.7B | 442,355,021 | 107 | 541 | 472 | 0.6% |
| Q1 2024 | 1,450 | $93.9B | 453,852,786 | 157 | 477 | 451 | 0.5% |
| Q4 2023 | 1,384 | $84.7B | 445,699,619 | 101 | 429 | 450 | 0.3% |
| Q3 2023 | 1,304 | $83.4B | 435,369,173 | 99 | 398 | 464 | 0.3% |
| Q2 2023 | 1,263 | $82.2B | 435,164,745 | 96 | 396 | 408 | 0.2% |
| Q1 2023 | 1,233 | $76.0B | 453,326,389 | 81 | 404 | 413 | 0.2% |
| Q4 2022 | 1,227 | $72.9B | 439,426,172 | 107 | 386 | 413 | 0.2% |
| Q3 2022 | 1,138 | $190.9B | 1,548,139,762 | 78 | 408 | 351 | 0.1% |
| Q2 2022 | 1,143 | $198.4B | 1,632,461,940 | 106 | 387 | 366 | 0.1% |
| Q1 2022 | 1,144 | $176.8B | 1,035,680,735 | 85 | 391 | 360 | 0.1% |
| Q4 2021 | 1,167 | $171.0B | 982,479,163 | 107 | 393 | 331 | 0.2% |
| Q3 2021 | 1,072 | $150.2B | 1,848,519,836 | 116 | 345 | 309 | 0.2% |
| Q2 2021 | 1,003 | $141.2B | 1,326,481,192 | 101 | 332 | 291 | 0.1% |
| Q1 2021 | 975 | $102.2B | 1,544,653,648 | 84 | 340 | 317 | 0.1% |
| Q4 2020 | 972 | $88.6B | 743,321,199 | 62 | 324 | 297 | 0.1% |
| Q3 2020 | 940 | $132.4B | 1,618,519,804 | 81 | 282 | 298 | 0.1% |
| Q2 2020 | 912 | $124.9B | 1,545,277,059 | 101 | 300 | 300 | 0.1% |
| Q1 2020 | 887 | $111.1B | 1,540,967,169 | 83 | 296 | 311 | 0.0% |
| Q4 2019 | 920 | $123.4B | 1,107,567,627 | 89 | 244 | 277 | 0.0% |
| Q3 2019 | 831 | $128.6B | 1,285,111,662 | 55 | 240 | 285 | 0.0% |
| Q2 2019 | 843 | $89.8B | 900,251,970 | 77 | 267 | 265 | 0.1% |
| Q1 2019 | 837 | $132.6B | 1,411,634,185 | 76 | 256 | 271 | 0.1% |
| Q4 2018 | 822 | $96.3B | 1,207,955,377 | 12 | 13 | 14 | 0.1% |