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Aon
AON

1,226 hedge funds and large institutions have $69.2B invested in Aon in 2025 Q2 according to their latest regulatory filings, with 106 funds opening new positions, 430 increasing their positions, 472 reducing their positions, and 134 closing their positions.

New
Increased
Maintained
Reduced
Closed

5% more call options, than puts

Call options by funds: $164M | Put options by funds: $157M

0.33% more ownership

Funds ownership: 89.52% → 89.85% (+0.33%)

9% less repeat investments, than reductions

Existing positions increased: 430 | Existing positions reduced: 472

3% less funds holding

Funds holding: 1,268 → 1,226 (-42)

10% less capital invested

Capital invested by funds: $77B → $69.2B (-$7.74B)

21% less first-time investments, than exits

New positions opened: 106 | Existing positions closed: 134

33% less funds holding in top 10

Funds holding in top 10: 43 → 29 (-14)

Holders
1,226
Holders Change
-42
Holders Change %
-3.31%
% of All Funds
16.14%
Holding in Top 10
29
Holding in Top 10 Change
-14
Holding in Top 10 Change %
-32.56%
% of All Funds
0.38%
New
106
Increased
430
Reduced
472
Closed
134
Calls
$164M
Puts
$157M
Net Calls
+$7.26M
Net Calls Change
-$317M

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$301M
2
Morgan Stanley
Morgan Stanley
New York
+$269M
3
Two Sigma Advisers
Two Sigma Advisers
New York
+$262M
4
FCM
Farallon Capital Management
California
+$226M
5
Two Sigma Investments
Two Sigma Investments
New York
+$226M

Top Sellers

Rank Fund Capital Flow
1
DZ Bank
DZ Bank
Germany
-$512M
2
JP Morgan Chase
JP Morgan Chase
New York
-$347M
3
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$319M
4
Mackenzie Financial
Mackenzie Financial
Ontario, Canada
-$236M
5
Boston Partners
Boston Partners
Massachusetts
-$232M
Name Holding Trade Value Shares
Change 		Change in
Stake
ADL
951
Asset Dedication LLC
California
$240K – – –
KWM
952
Kingsview Wealth Management
Oregon
$237K +$2.17K +6 +0.9%
VF
953
Vest Financial
Virginia
$236K +$33.3K +92 +16%
HFS
954
Hopwood Financial Services
Virginia
$235K – – –
ACM
955
Avalon Capital Management
California
$235K +$239K +660 New
DWA
956
Dougherty Wealth Advisers
Minnesota
$235K – – –
MPM
957
MBB Public Markets
Illinois
$235K -$55.1K -152 -19%
AA
958
Armis Advisers
Georgia
$234K +$362 +1 +0.2%
RFG
959
REAP Financial Group
Texas
$234K +$362 +1 +0.2%
CFFP
960
Center for Financial Planning
Michigan
$233K – – –
UPS
961
UHLMANN PRICE SECURITIES
Illinois
$232K – – –
GCM
962
Goldstream Capital Management
Hong Kong
$232K – – –
HNB
963
Hilltop National Bank
Wyoming
$232K +$235K +649 New
MAA
964
Matrix Asset Advisors
New York
$231K – – –
SIM
965
Sentry Investment Management
Wisconsin
$231K – – –
AIP
966
ARS Investment Partners
New York
$230K +$234K +645 New
SCM
967
Stevens Capital Management
Pennsylvania
$230K +$234K +645 New
CFGW
968
Chancellor Financial Group WB
Pennsylvania
$229K – – –
BIAS
969
Beacon Investment Advisory Services
New Jersey
$228K +$232K +639 New
MSE
970
MUFG Securities EMEA
United Kingdom
$227K +$231K +637 New
Federated Hermes
971
Federated Hermes
Pennsylvania
$227K -$117K -324 -34%
SI
972
Seeds Investor
New York
$225K -$66.3K -183 -23%
SW
973
SVB Wealth
Massachusetts
$224K -$319K -880 -58%
WA
974
Waddell & Associates
Tennessee
$224K – – –
DA
975
Dover Advisors
Virginia
$223K – – –
37 38
39
40 41

AON Hedge Fund Activity: Q2 2025 in Review

1,226 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Aon (AON) for Q2 2025, worth a combined $69.2B — down 10% from $77B a quarter earlier.

Sellers outnumbered buyers: 134 funds closed out of AON and 106 opened new positions — a net loss of 28 holders — while 472 trimmed existing stakes and 430 added.

The largest buyer was BlackRock, adding an estimated $301M. The largest seller was DZ Bank, cutting an estimated $512M.

  • 1,226 institutional investors held Aon (AON) as of Q2 2025, down from 1,268 in Q1 2025.
  • Funds reported $69.2B of Aon stock for Q2 2025, down 10% quarter-over-quarter.
  • 106 funds opened new Aon positions in Q2 2025 and 134 closed out, a net change of -28 holders.
  • The largest Aon buyer in Q2 2025 was BlackRock, an estimated $301M added.
  • The largest Aon seller in Q2 2025 was DZ Bank, an estimated $512M sold.

Based on aggregated 13F filings for Q2 2025.