Marsh & McLennan Turns Global Risk Into Long-Term Growth

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CADINHA & CO LLC reduced its stake in Marsh & McLennan Companies (NYSE:MMC), selling shares worth an estimated $16.41 million based on the average price for Q3 2025, according to an SEC filing dated October 16, 2025.

What happened

According to a filing with the U.S. Securities and Exchange Commission on October 16, 2025, CADINHA & CO LLC sold 79,802 shares of Marsh & McLennan Companies during the quarter. The estimated value of the shares sold was $16.41 million, calculated using the period’s average unadjusted closing price. The fund held 2,925 shares of Marsh & McLennan Companies at quarter-end.

What else to know

The sale reduced Marsh & McLennan Companies’ weight in the portfolio to 0.08% of 13F AUM, outside the fund’s top five holdings.

Top holdings after the filing:

• BRK-B: $38.86 million (5.28% of AUM) as of September 30, 2025
• IAU: $38.47 million (5.2% of AUM) as of September 30, 2025
• COST: $35.68 million (4.8% of AUM) as of September 30, 2025
• MSFT: $35.17 million (4.8% of AUM) as of September 30, 2025
• GOOGL: $34.87 million (4.7% of AUM) as of September 30, 2025

As of October 16, 2025, shares of Marsh & McLennan Companies were priced at $186.48, down 18.18% over the past year, underperforming the S&P 500 by 30.19 percentage points over the past year.

Company Overview

Company Snapshot

Marsh & McLennan Companies, Inc. is a global leader in professional services, specializing in risk, insurance, and consulting solutions. With a diversified business model, the company leverages its scale and expertise to deliver value-added services to a broad base of institutional and corporate clients. Its competitive advantage is rooted in its longstanding industry presence and comprehensive suite of advisory offerings.

The company generates revenue primarily through service fees, commissions from insurance broking, and consulting engagements for corporate and institutional clients.

Marsh & McLennan Companies, Inc. serves businesses, public entities, insurance companies, associations, and professional services organizations worldwide.

Foolish take

CADINHA & CO's recent sale of Marsh & McLennan stock reflects a broader trend of investors growing cautious and consulting firms as market conditions shift. For Marsh & McLennan, though, rising uncertainties are not a setback. It is the foundation of its business, and the company continues to find ways to turn that uncertainty into opportunity.

Marsh & McLennan's product offering isn't focused directly on selling insurance, and it is more heavily centered on its consulting services. The firm earns fees and commissions for placing coverage, arranging reinsurance, and advising on strategy and risk management.

Its portfolio is broader than many realize. Through its Marsh brokerage arm and Guy Carpenter reinsurance division, the company connects clients to insurance capacity worldwide, while Mercer and Oliver Wyman extend the relationship into workforce and strategy consulting. Each division reinforces the other and creates a self-sustaining loop of data and advisory demand that strengthens the company's moat.

For long-term investors, the lens is simple. As cyber threats and climate shocks grow more prevalent, more companies need help measuring exposure and negotiating protection. That type of work relies heavily on data, credibility, and global reach. Those are all strengths that have made the firm a trusted leader for decades. Marsh & McLennan's expertise will only become more valuable in a world where global risk grows more complex and becomes a permanent feature of the global economy.

Glossary

13F reportable AUM: Assets under management reported by institutional investment managers on SEC Form 13F, typically covering U.S. equity holdings.
AUM (Assets Under Management): The total market value of investments managed on behalf of clients by a fund or firm.
Quarter-end: The last day of a financial quarter, used as a reference point for reporting holdings and performance.
Portfolio weight: The percentage of a portfolio's total value allocated to a specific investment or holding.
Top holdings: The largest investments in a portfolio, usually ranked by market value or portfolio weight.
Reinsurance broking: The service of arranging insurance for insurance companies, helping them transfer risk to other insurers.
Consulting engagements: Professional advisory projects where firms provide expertise and recommendations to clients for a fee.
Institutional clients: Organizations such as corporations, pension funds, or governments that invest large sums, as opposed to individual investors.
Service fees: Charges paid by clients for professional services, separate from commissions or product sales.
TTM: The 12-month period ending with the most recent quarterly report.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Costco Wholesale, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.