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1,278 hedge funds and large institutions have $66.6B invested in Aon in 2025 Q4 according to their latest regulatory filings, with 154 funds opening new positions, 424 increasing their positions, 474 reducing their positions, and 100 closing their positions.

New
Increased
Maintained
Reduced
Closed

170% more call options, than puts

Call options by funds: $109M | Put options by funds: $40.4M

54% more first-time investments, than exits

New positions opened: 154 | Existing positions closed: 100

2% more funds holding

Funds holding: 1,2481,278 (+30)

1.7% more ownership

Funds ownership: 86.17%87.87% (+1.7%)

0% more capital invested

Capital invested by funds: $66.3B → $66.6B (+$330M)

4% less funds holding in top 10

Funds holding in top 10: 2726 (-1)

11% less repeat investments, than reductions

Existing positions increased: 424 | Existing positions reduced: 474

Holders
1,278
Holders Change
+30
Holders Change %
+2.4%
% of All Funds
15.55%
Holding in Top 10
26
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-3.7%
% of All Funds
0.32%
New
154
Increased
424
Reduced
474
Closed
100
Calls
$109M
Puts
$40.4M
Net Calls
+$68.7M
Net Calls Change
-$172M
Name Holding Trade Value Shares
Change
Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$7.12B +$66.9M +191,658 +1%
BlackRock
2
BlackRock
New York
$5.73B +$136M +390,348 +2%
Capital World Investors
3
Capital World Investors
California
$4.32B +$61.5M +176,207 +1%
State Street
4
State Street
Massachusetts
$3.25B -$8.9M -25,491 -0.3%
Massachusetts Financial Services
5
Massachusetts Financial Services
Massachusetts
$3.02B -$74.2M -212,650 -2%
Dodge & Cox
6
Dodge & Cox
California
$2.77B +$1.53B +4,387,773 +127%
Morgan Stanley
7
Morgan Stanley
New York
$1.97B -$198M -565,880 -9%
Geode Capital Management
8
Geode Capital Management
Massachusetts
$1.81B +$9.8M +28,066 +0.5%
Berkshire Hathaway
9
Berkshire Hathaway
Nebraska
$1.27B -$174M -497,005 -12%
Bank of New York Mellon
10
Bank of New York Mellon
New York
$1.23B -$82.5M -236,285 -6%
Norges Bank
11
Norges Bank
Norway
$1.16B +$1.14B +3,275,848 New
JP Morgan Chase
12
JP Morgan Chase
New York
$1.13B -$54.1M -154,981 -5%
FCM
13
Farallon Capital Management
California
$941M +$135M +387,221 +17%
DZ Bank
14
DZ Bank
Germany
$852M +$834M +2,388,314 +8,948%
Eagle Capital Management (New York)
15
Eagle Capital Management (New York)
New York
$801M -$5.15M -14,737 -0.6%
IFP
16
Independent Franchise Partners
United Kingdom
$747M +$6.65M +19,037 +0.9%
Northern Trust
17
Northern Trust
Illinois
$741M -$39.6M -113,417 -5%
WCM Investment Management
18
WCM Investment Management
California
$708M -$18.1M -51,715 -3%
VAM
19
Veritas Asset Management
United Kingdom
$703M -$21.4M -61,220 -3%
Polen Capital Management
20
Polen Capital Management
Florida
$652M -$225M -643,873 -26%
Neuberger Berman Group
21
Neuberger Berman Group
New York
$637M -$184M -526,060 -23%
Mitsubishi UFJ Asset Management
22
Mitsubishi UFJ Asset Management
Japan
$624M -$3.69M -10,554 -0.6%
Boston Partners
23
Boston Partners
Massachusetts
$576M -$26.6M -76,243 -4%
Diamond Hill Capital Management
24
Diamond Hill Capital Management
Ohio
$563M +$11.3M +32,494 +2%
Mawer Investment Management
25
Mawer Investment Management
Alberta, Canada
$521M -$356M -1,020,396 -41%