Madison Investors Fund Trimmed Marsh & McLennan Companies (MMC) for Portfolio Risk Management

Madison Investments, an investment advisor, released its “Madison Investors Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund advanced 8.5% compared to an 8.7% return for S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Marsh & McLennan Companies, Inc. (NYSE:MMC) in the second quarter 2023 investor letter. Headquartered in New York, New York, Marsh & McLennan Companies, Inc. (NYSE:MMC) is a professional services company. On July 13, 2023, Marsh & McLennan Companies, Inc. (NYSE:MMC) stock closed at $186.56 per share. One-month return of Marsh & McLennan Companies, Inc. (NYSE:MMC) was 2.99%, and its shares gained 23.57% of their value over the last 52 weeks. Marsh & McLennan Companies, Inc. (NYSE:MMC) has a market capitalization of $92.295 billion.

Madison Investors Fund made the following comment about Marsh & McLennan Companies, Inc. (NYSE:MMC) in its second quarter 2023 investor letter:

“Overall portfolio activity remained low in the quarter. We purchased Elevance Health and trimmed Marsh & McLennan Companies, Inc. (NYSE:MMC) and Arch Capital. The two trims were for portfolio risk management reasons; we remain delighted with corporate performance at both companies and maintain sizeable investments in each. There were no portfolio eliminations.”

Marsh & McLennan Companies, Inc. (NYSE:MMC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Marsh & McLennan Companies, Inc. (NYSE:MMC) at the end of first quarter 2023 which was 52 in the previous quarter.

We discussed Marsh & McLennan Companies, Inc. (NYSE:MMC) in another article and shared the list of best consulting stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.