Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” first-quarter 2026 investor letter. The objective of the fund is to deliver capital appreciation by investing in diverse large-cap US companies. A copy of the letter can be downloaded here. In the quarter, the Fund (investor class) outperformed the S&P 500 Index, returning -2.47% vs. -4.33% for the index. In addition, you can check the Fund’s top five holdings to determine its best picks for 2026.
In its first-quarter 2026 investor letter, Oakmark Fund highlighted Marsh & McLennan Companies, Inc. (NYSE:MRSH) as a newly established position. Marsh & McLennan Companies, Inc. (NYSE:MRSH) is a professional service company specializing in advisory services and insurance solutions. On April 13, 2026, Marsh & McLennan Companies, Inc. (NYSE:MRSH) stock closed at $173.55 per share. One-month return of Marsh & McLennan Companies, Inc. (NYSE:MRSH) was 0.94%, and its shares lost 25.31% over the past 52 weeks. Marsh & McLennan Companies, Inc. (NYSE:MRSH) has a market capitalization of $84.02 billion.
Oakmark Fund stated the following regarding Marsh & McLennan Companies, Inc. (NYSE:MRSH) in its Q1 2026 investor letter:
“Marsh & McLennan Companies, Inc. (NYSE:MRSH) is the world’s largest insurance broker and risk management firm. Marsh has led the industry in organic revenue growth while generating consistent operating margin expansion over the past two decades. Management is engaged in a multi-year effort to rebrand under the single Marsh name, unify service offerings across the firm, and centralize technology and operations to drive efficiencies. Although the softer industrywide rate environment is pressuring revenue growth today, we believe that Marsh is likely to sustain mid-single digit operating income growth for the foreseeable future. Moreover, fears about the potential for AI to disrupt insurance brokers seem exaggerated – and Marsh is already using AI tools to drive productivity enhancements in areas such as data ingestion and new business proposals. We were pleased to have the opportunity to invest in Marsh at a mid-teens multiple of its earnings power.”
Marsh & McLennan Companies, Inc. (NYSE:MRSH) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 69 hedge fund portfolios held Marsh & McLennan Companies, Inc. (NYSE:MRSH) at the end of the fourth quarter, up from 66 in the previous quarter. While we acknowledge the potential of Marsh & McLennan Companies, Inc. (NYSE:MRSH) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
