Marsh McLennan: which funds bought and sold

Institutions that bought and sold Marsh McLennan shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 595 institutions that filed 13F reports for both quarters added to or opened positions in Marsh McLennan, and 824 cut or closed them. Together they sold a net 7.5M shares, −1.7% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 2.7M shares (+1.9%); index fund managers were net sellers of 2.0M shares (−1.5%). 120 opened a new position and 164 sold out entirely.

Bought, Q2 2026 595 institutions, 120 of them new holders Sold, Q2 2026 824 institutions, 164 of them sold out

Net change, all compared −7.5M shares (−1.7%)

Net change, active managers +2.7M shares (+1.9%), 39 bought, 53 sold

Buyers versus sellers

institutions compared, 1,633

595 bought 214 824 sold

Active managers and hedge funds 39 bought · 53 sold · +2.7M

Index fund managers 8 bought · 4 sold · −2.0M

Other institutions 548 bought · 767 sold · −8.2M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Edgepoint Investment Group Inc. Active manager	+3.8M New position	3.8M	$637M
Harris Associates L P Active manager	+3.5M +68.1%	8.7M	$1.4B
Price T Rowe Associates Inc Active manager	+2.5M +22.4%	13.4M	$2.2B
Artisan Partners Limited Partnership Active manager	+2.4M +49.1%	7.3M	$1.2B
Primecap Management Co Active manager	+1.4M +199.0%	2.1M	$358M
Assenagon Asset Management S.A.	+1.2M +732.3%	1.3M	$218M
National Pension Service	+1.1M New position	1.1M	$188M
Canada Pension Plan Investment Board	+796K +98.3%	1.6M	$268M
Beutel, Goodman & Co Ltd.	+794K +101.8%	1.6M	$262M
Arrowstreet Capital, Limited Partnership Hedge fund	+716K +20.7%	4.2M	$695M
Amundi	+586K +25.5%	2.9M	$481M
Goldman Sachs Group Inc	+556K +15.1%	4.2M	$705M
Jennison Associates LLC Active manager	+461K +207.0%	683K	$114M
Boston Partners Active manager	+458K New position	458K	$76.4M
Marshall Wace, LLP Hedge fund	+438K +72.4%	1.0M	$174M
Invesco Ltd.	+421K +10.8%	4.3M	$718M
Deutsche Bank Ag\	+409K +11.1%	4.1M	$686M
Focused Investors LLC	+404K New position	404K	$67.4M
Black Creek Investment Management Inc.	+385K New position	385K	$64.1M
State Street Corp Index funds	+331K +1.5%	22.4M	$3.7B

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Edgepoint Investment Group Inc. Active manager	+3.8M New position	3.8M	$637M
Harris Associates L P Active manager	+3.5M +68.1%	8.7M	$1.4B
Price T Rowe Associates Inc Active manager	+2.5M +22.4%	13.4M	$2.2B
Artisan Partners Limited Partnership Active manager	+2.4M +49.1%	7.3M	$1.2B
Primecap Management Co Active manager	+1.4M +199.0%	2.1M	$358M
Arrowstreet Capital, Limited Partnership Hedge fund	+716K +20.7%	4.2M	$695M
Jennison Associates LLC Active manager	+461K +207.0%	683K	$114M
Boston Partners Active manager	+458K New position	458K	$76.4M
Marshall Wace, LLP Hedge fund	+438K +72.4%	1.0M	$174M
Voloridge Investment Management, LLC Hedge fund	+239K +21.9%	1.3M	$222M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
FMR LLC Active manager	−3.2M −31.7%	7.0M	$1.2B
Blackrock, Inc. Index funds	−2.6M −6.1%	39.5M	$6.6B
Clearbridge Investments, LLC Active manager	−1.7M −26.7%	4.7M	$784M
Massachusetts Financial Services Co Active manager	−1.7M −20.6%	6.5M	$1.1B
Mawer Investment Management Ltd. Active manager	−1.6M −46.2%	1.9M	$312M
Bank Of America Corp	−1.5M −30.1%	3.5M	$576M
Jpmorgan Chase & Co	−1.4M −22.4%	4.7M	$789M
UBS Group AG	−1.1M −23.7%	3.6M	$601M
BNP Paribas Financial Markets	−1.1M −41.6%	1.5M	$250M
AQR Capital Management LLC Hedge fund	−1.1M −29.0%	2.6M	$432M
Rathbones Group PLC	−981K −36.1%	1.7M	$289M
D. E. Shaw & Co., Inc. Hedge fund	−890K −51.5%	840K	$140M
Longview Partners (Guernsey) Ltd	−810K Sold out	0	—
Nuveen, LLC	−716K −17.2%	3.5M	$575M
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC	−585K −11.3%	4.6M	$766M
Assetmark, Inc	−564K −89.7%	65K	$10.8M
SG Americas Securities, LLC	−552K −85.6%	93K	$15.5M
Royal Bank Of Canada	−503K −15.2%	2.8M	$469M
Two Sigma Investments, LP Hedge fund	−474K −70.1%	202K	$33.7M
Wellington Management Group LLP Active manager	−395K −2.3%	17.0M	$2.8B

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
FMR LLC Active manager	−3.2M −31.7%	7.0M	$1.2B
Clearbridge Investments, LLC Active manager	−1.7M −26.7%	4.7M	$784M
Massachusetts Financial Services Co Active manager	−1.7M −20.6%	6.5M	$1.1B
Mawer Investment Management Ltd. Active manager	−1.6M −46.2%	1.9M	$312M
AQR Capital Management LLC Hedge fund	−1.1M −29.0%	2.6M	$432M
D. E. Shaw & Co., Inc. Hedge fund	−890K −51.5%	840K	$140M
Two Sigma Investments, LP Hedge fund	−474K −70.1%	202K	$33.7M
Wellington Management Group LLP Active manager	−395K −2.3%	17.0M	$2.8B
Renaissance Technologies LLC Hedge fund	−366K Sold out	0	—
American Century Companies Inc Active manager	−357K −8.4%	3.9M	$646M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Edgepoint Investment Group Inc.Active manager	3.8M	$637M
National Pension Service	1.1M	$188M
Boston PartnersActive manager	458K	$76.4M
Focused Investors LLC	404K	$67.4M
Black Creek Investment Management Inc.	385K	$64.1M
Tudor Investment Corp Et AlHedge fund	76K	$12.6M
Sone Capital Management, LLC	65K	$10.9M
Trexquant Investment LPHedge fund	64K	$10.6M
Ossiam	62K	$10.3M
Quantbot Technologies LPHedge fund	58K	$9.7M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Longview Partners (Guernsey) Ltd	810K	$141M
Renaissance Technologies LLCHedge fund	366K	$63.4M
Eminence Capital, LPHedge fund	320K	$55.6M
Ako Capital LLP	262K	$45.4M
Holocene Advisors, LPHedge fund	203K	$35.3M
Worldquant Millennium Advisors LLCHedge fund	119K	$20.7M
Lbp Am SA	65K	$11.2M
Strategic Wealth Investment Group, LLC	55K	$9.5M
Quadrature Capital LtdHedge fund	47K	$8.2M
Blue Sparrow, LLC	31K	$5.3M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 1,494
Ten largest holders: 44.4%
Index fund managers: 29.9%
Active managers and hedge funds: 33.5%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	39	53	14	7	+2.7M	+1.9%
Index fund managers	8	4	0	0	−2.0M	−1.5%
Other institutions	548	767	106	157	−8.2M	−5.0%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Marsh McLennan.

Only managers that filed a holdings report for both quarters are compared (1,633 here). 55 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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