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Aon
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.

New
Increased
Maintained
Reduced
Closed

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)

Holders
1,248
Holders Change
+23
Holders Change %
+1.88%
% of All Funds
16.38%
Holding in Top 10
27
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-6.9%
% of All Funds
0.35%
New
128
Increased
476
Reduced
402
Closed
86
Calls
$302M
Puts
$61.6M
Net Calls
+$240M
Net Calls Change
+$233M

Top Buyers

1
Dodge & Cox
Dodge & Cox
California
+$1.25B
2
Viking Global Investors
Viking Global Investors
Connecticut
+$512M
3
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$306M
4
Citadel Advisors
Citadel Advisors
Florida
+$281M
5
IFP
Independent Franchise Partners
United Kingdom
+$223M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$1.21B
2
JP Morgan Chase
JP Morgan Chase
New York
-$489M
3
Artisan Partners
Artisan Partners
Wisconsin
-$329M
4
Mitsubishi UFJ Asset Management
Mitsubishi UFJ Asset Management
Japan
-$320M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$316M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$7.12B -$112M -310,352 -2%
BlackRock
2
BlackRock
New York
$5.65B -$30.5M -84,174 -0.5%
Capital World Investors
3
Capital World Investors
California
$4.31B -$24.4M -67,540 -0.6%
State Street
4
State Street
Massachusetts
$3.29B +$38M +105,154 +1%
Massachusetts Financial Services
5
Massachusetts Financial Services
Massachusetts
$3.12B -$70.3M -194,325 -2%
Morgan Stanley
6
Morgan Stanley
New York
$2.19B -$1.21B -3,331,026 -35%
Geode Capital Management
7
Geode Capital Management
Massachusetts
$1.82B -$172M -474,982 -8%
Berkshire Hathaway
8
Berkshire Hathaway
Nebraska
$1.46B – – –
Bank of New York Mellon
9
Bank of New York Mellon
New York
$1.32B +$75.1M +207,690 +6%
Dodge & Cox
10
Dodge & Cox
California
$1.24B +$1.25B +3,464,683 New
JP Morgan Chase
11
JP Morgan Chase
New York
$1.19B -$489M -1,352,405 -29%
Mawer Investment Management
12
Mawer Investment Management
Alberta, Canada
$891M -$171M -473,444 -16%
Polen Capital Management
13
Polen Capital Management
Florida
$888M -$92.4M -255,460 -9%
Neuberger Berman Group
14
Neuberger Berman Group
New York
$831M +$90.3M +249,549 +12%
Eagle Capital Management (New York)
15
Eagle Capital Management (New York)
New York
$814M -$39.1K -108 -0%
FCM
16
Farallon Capital Management
California
$812M +$105M +291,600 +15%
Northern Trust
17
Northern Trust
Illinois
$789M -$20.1M -55,614 -2%
IFP
18
Independent Franchise Partners
United Kingdom
$748M +$223M +615,570 +42%
VAM
19
Veritas Asset Management
United Kingdom
$732M +$120M +332,685 +19%
WCM Investment Management
20
WCM Investment Management
California
$723M -$868K -2,400 -0.1%
Mitsubishi UFJ Asset Management
21
Mitsubishi UFJ Asset Management
Japan
$650M -$320M -883,462 -33%
Capital International Investors
22
Capital International Investors
California
$626M +$19.3M +53,377 +3%
Boston Partners
23
Boston Partners
Massachusetts
$611M +$83.2M +230,098 +16%
Diamond Hill Capital Management
24
Diamond Hill Capital Management
Ohio
$558M -$3.87M -10,690 -0.7%
Bank of America
25
Bank of America
North Carolina
$512M +$4.12M +11,387 +0.8%
1
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AON Hedge Fund Activity: Q3 2025 in Review

1,248 of the 7,619 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.