Marsh & McLennan Companies, Inc. bonds MRSH
Who owns Marsh & McLennan Companies, Inc.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. MRSH stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 571748BL5 | 1.349% fixed | 2026-09-21 | EUR | 99.69 | 2.70% | — | 1 | $114K | Jun 2026 |
| 571748BZ4 | 4.33% floating | 2027-11-08 | USD | 100.30 | — | — | 14 | $76.1M | Jul 2026 |
| 571748BY7 | 4.55% fixed | 2027-11-08 | USD | 100.00 | 4.54% | 44 bp | 15 | $35.5M | Jul 2026 |
| 571748BG6 | 4.375% fixed | 2029-03-15 | USD | 99.18 | 4.71% | 46 bp | 11 | $16.8M | Jul 2026 |
| 571748CA8 | 4.65% fixed | 2030-03-15 | USD | 99.32 | 4.85% | 57 bp | 16 | $121.4M | Jul 2026 |
| 571748BM3 | 1.979% fixed | 2030-03-21 | EUR | 94.91 | 3.49% | — | 2 | $2.4M | Jul 2026 |
| 571748BN1 | 2.25% fixed | 2030-11-15 | USD | 89.82 | 4.91% | 60 bp | 14 | $10.5M | Jul 2026 |
| 571748CB6 | 4.85% fixed | 2031-11-15 | USD | 99.17 | 5.03% | 68 bp | 12 | $57.8M | Jul 2026 |
| 571748BP6 | 2.375% fixed | 2031-12-15 | USD | 87.75 | 5.00% | 65 bp | 12 | $5.3M | Jul 2026 |
| 571748BR2 | 5.75% fixed | 2032-11-01 | USD | 103.21 | 5.14% | 73 bp | 7 | $3.9M | Jul 2026 |
| 571748AK8 | 5.88% fixed | 2033-08-01 | USD | 103.62 | 5.26% | 80 bp | 6 | $4.7M | Jul 2026 |
| 571748BU5 | 5.4% fixed | 2033-09-15 | USD | 101.06 | 5.22% | 75 bp | 9 | $3.5M | Jul 2026 |
| 571748BW1 | 5.15% fixed | 2034-03-15 | USD | 98.99 | 5.31% | 82 bp | 9 | $6.5M | Jul 2026 |
| 571748CC4 | 5% fixed | 2035-03-15 | USD | 97.23 | 5.41% | 87 bp | 11 | $65.9M | Jul 2026 |
| 571748CF7 | 4.95% fixed | 2036-03-15 | USD | 96.37 | 5.44% | 86 bp | 20 | $15.9M | Jul 2026 |
| 571748BH4 | 4.75% fixed | 2039-03-15 | USD | 91.93 | 5.65% | 92 bp | 11 | $14.1M | Jul 2026 |
| 571748CE0 | 5.35% fixed | 2044-11-15 | USD | 92.31 | 6.05% | 103 bp | 5 | $1.6M | Jul 2026 |
| 571748BC5 | 4.35% fixed | 2047-01-30 | USD | 79.35 | 6.13% | 102 bp | 4 | $1.1M | Jul 2026 |
| 571748BD3 | 4.2% fixed | 2048-03-01 | USD | 77.09 | 6.13% | 102 bp | 6 | $2.2M | Jul 2026 |
| 571748BJ0 | 4.9% fixed | 2049-03-15 | USD | 84.92 | 6.14% | 103 bp | 10 | $5.6M | Jul 2026 |
| 571748BQ4 | 2.9% fixed | 2051-12-15 | USD | 59.34 | 6.06% | 95 bp | 6 | $1.4M | Jul 2026 |
| 571748BS0 | 6.25% fixed | 2052-11-01 | USD | 101.11 | 6.16% | 106 bp | 8 | $3.4M | Jul 2026 |
| 571748BT8 | 5.45% fixed | 2053-03-15 | USD | 90.87 | 6.15% | 105 bp | 8 | $4.1M | Jul 2026 |
| 571748BV3 | 5.7% fixed | 2053-09-15 | USD | 93.96 | 6.16% | 106 bp | 10 | $3.9M | Jul 2026 |
| 571748BX9 | 5.45% fixed | 2054-03-15 | USD | 90.81 | 6.14% | 104 bp | 5 | $3.3M | Jul 2026 |
| 571748CD2 | 5.4% fixed | 2055-03-15 | USD | 89.95 | 6.15% | 105 bp | 15 | $30.9M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 25 | $497.8M | 94.91 | 5.44% | 87 bp | 20 |
| Jun 2026 | 25 | $1.50B | 99.04 | 5.17% | 72 bp | 62 |
| May 2026 | 26 | $1.05B | 99.09 | 5.15% | 70 bp | 32 |
| Apr 2026 | 25 | $508.4M | 97.59 | 5.13% | 84 bp | 19 |
| Mar 2026 | 25 | $1.51B | 99.06 | 5.07% | 88 bp | 68 |
| Feb 2026 | 25 | $1.13B | 99.96 | 4.84% | 70 bp | 35 |
| Jan 2026 | 25 | $516.0M | 99.96 | 5.04% | 76 bp | 18 |
| Dec 2025 | 25 | $1.43B | 99.91 | 4.98% | 77 bp | 66 |
| Nov 2025 | 24 | $1.03B | 100.18 | 4.90% | 74 bp | 34 |
| Oct 2025 | 25 | $532.2M | 99.81 | 4.93% | 80 bp | 18 |
| Sep 2025 | 25 | $1.43B | 99.77 | 4.98% | 75 bp | 54 |
| Aug 2025 | 24 | $1.02B | 99.39 | 5.10% | 76 bp | 32 |
| Jul 2025 | 25 | $628.3M | 99.52 | 5.19% | 72 bp | 18 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 69 added, 95 cut, 4 new holders and 32 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $227.2M | $220.3M | $15.0M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $201.4M | $194.4M | $7.1M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $186.9M | $185.9M | $16.9M |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $107.6M | $102.0M | $0 |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $96.8M | $95.2M | -$10.2M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $91.1M | $90.5M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $88.7M | $84.9M | -$3.5M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $79.4M | $77.8M | $0 |
| Bond Fund of America | 2026-06-30 | $74.5M | $72.7M | $0 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $64.4M | $62.2M | -$14.6M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $61.7M | $61.3M | $7.5M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $60.9M | $60.9M | -$4.5M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $59.2M | $58.0M | -$7.3M |
| American Balanced Fund | 2026-06-30 | $56.3M | $55.1M | $0 |
| American Funds Strategic Bond Fund | 2026-06-30 | $53.2M | $51.2M | $0 |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $56.5M | $47.8M | $0 |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $49.6M | $47.2M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $42.0M | $41.9M | -$980K |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $40.2M | $40.8M | $0 |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $41.0M | $40.6M | $0 |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $37.3M | $36.8M | -$2.1M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $34.4M | $33.1M | $1.4M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $31.4M | $31.4M | $5.8M |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $29.5M | $29.1M | $0 |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $28.7M | $28.2M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Oakmark Equity and Income Fund ($10.1M), JPMorgan Managed Income Fund ($8.9M), Eaton Vance Total Return Bond ETF ($8.0M), Calvert Bond Fund ($7.4M), Invesco BulletShares 2026 Corporate Bond ETF ($7.2M), VANGUARD STAR CORE-PLUS BOND FUND ($4.9M), T. Rowe Price Ultra Short-Term Bond ETF ($4.8M), Avantis Short-Term Fixed Income ETF ($4.5M), T. Rowe Price Ultra Short-Term Bond Fund ($4.1M), Calvert Income Fund ($3.0M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 20 | $201.4M | $194.4M | 0.05% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 6 | $186.9M | $185.9M | 0.27% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 23 | $88.7M | $84.9M | 0.06% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 7 | $64.4M | $62.2M | 0.21% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 7 | $61.7M | $61.3M | 0.12% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 3 | $60.9M | $60.9M | 0.12% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 8 | $42.0M | $41.9M | 0.23% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 23 | $34.4M | $33.1M | 0.19% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 8 | $31.4M | $31.4M | 0.27% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 10 | $28.8M | $26.2M | 0.28% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 3 | $26.0M | $25.3M | 0.30% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 3 | $25.2M | $25.2M | 0.04% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $23.5M | $23.2M | 0.10% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 23 | $23.6M | $22.1M | 0.05% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 12 | $20.6M | $20.3M | 0.18% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 87 bp spread prices in about 1.5% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Not available.
The stock side: 13F filings
What institutions report holding in MRSH's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 228 | $1.78B | 0 | — | 0 | — | 0 |
| 2026-06-30 | 1,490 | $69.34B | 15 | $34.8M | 16 | $100.2M | 0 |
| 2026-03-31 | 1,526 | $62.89B | 21 | $35.3M | 17 | $65.4M | 0 |
| 2025-12-31 | 1,575 | $77.21B | 21 | $78.7M | 18 | $131.4M | 0 |
| 2025-09-30 | 1,563 | $84.25B | 21 | $109.1M | 20 | $121.2M | 0 |
| 2025-06-30 | 1,587 | $92.76B | 23 | $117.7M | 26 | $151.2M | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.