Aon
1,248 hedge funds and large institutions have $66.3B invested in Aon in 2025 Q3 according to their latest regulatory filings, with 128 funds opening new positions, 476 increasing their positions, 402 reducing their positions, and 86 closing their positions.
390% more call options, than puts
Call options by funds: $302M | Put options by funds: $61.6M
49% more first-time investments, than exits
New positions opened: 128 | Existing positions closed: 86
18% more repeat investments, than reductions
Existing positions increased: 476 | Existing positions reduced: 402
2% more funds holding
Funds holding: 1,225 → 1,248 (+23)
4% less capital invested
Capital invested by funds: $69.2B → $66.3B (-$2.95B)
3.68% less ownership
Funds ownership: 89.85% → 86.17% (-3.7%)
7% less funds holding in top 10
Funds holding in top 10: 29 → 27 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Dodge & Cox
San Francisco,
California
|
+$1.25B |
| 2 |
Viking Global Investors
Stamford,
Connecticut
|
+$512M |
| 3 |
Balyasny Asset Management
Chicago,
Illinois
|
+$306M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$281M |
| 5 |
IFP
Independent Franchise Partners
London,
United Kingdom
|
+$223M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$1.21B |
| 2 |
JP Morgan Chase
New York
|
-$489M |
| 3 |
Artisan Partners
Milwaukee,
Wisconsin
|
-$329M |
| 4 |
Mitsubishi UFJ Asset Management
Tokyo,
Japan
|
-$320M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
-$316M |
AON Hedge Fund Activity: Q3 2025 in Review
1,248 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Aon (AON) for Q3 2025, worth a combined $66.3B — down 4.3% from $69.2B a quarter earlier.
Buyers outnumbered sellers: 128 funds opened new AON positions and 86 closed out — a net gain of 42 holders — while 476 added to existing stakes and 402 trimmed.
The largest buyer was Dodge & Cox, opening a new position worth an estimated $1.25B. The largest seller was Morgan Stanley, cutting an estimated $1.21B.
- 1,248 institutional investors held Aon (AON) as of Q3 2025, up from 1,225 in Q2 2025.
- Funds reported $66.3B of Aon stock for Q3 2025, down 4.3% quarter-over-quarter.
- 128 funds opened new Aon positions in Q3 2025 and 86 closed out, a net change of +42 holders.
- The largest Aon buyer in Q3 2025 was Dodge & Cox, an estimated $1.25B added.
- The largest Aon seller in Q3 2025 was Morgan Stanley, an estimated $1.21B sold.
Based on aggregated 13F filings for Q3 2025.