Aon
1,282 hedge funds and large institutions have $66.6B invested in Aon in 2025 Q4 according to their latest regulatory filings, with 155 funds opening new positions, 424 increasing their positions, 475 reducing their positions, and 101 closing their positions.
170% more call options, than puts
Call options by funds: $109M | Put options by funds: $40.4M
53% more first-time investments, than exits
New positions opened: 155 | Existing positions closed: 101
2% more funds holding
Funds holding: 1,251 → 1,282 (+31)
1.66% more ownership
Funds ownership: 86.26% → 87.92% (+1.7%)
0% more capital invested
Capital invested by funds: $66.3B → $66.6B (+$322M)
4% less funds holding in top 10
Funds holding in top 10: 27 → 26 (-1)
11% less repeat investments, than reductions
Existing positions increased: 424 | Existing positions reduced: 475
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Dodge & Cox
San Francisco,
California
|
+$1.53B |
| 2 |
DZ Bank
Frankfurt Am Main,
Germany
|
+$834M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
+$265M |
| 4 |
SCA
Southpoint Capital Advisors
New York
|
+$227M |
| 5 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$152M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Mawer Investment Management
Calgary,
Alberta, Canada
|
-$356M |
| 2 |
Polen Capital Management
Boca Raton,
Florida
|
-$225M |
| 3 |
Viking Global Investors
Stamford,
Connecticut
|
-$220M |
| 4 |
Morgan Stanley
New York
|
-$198M |
| 5 |
Neuberger Berman Group
New York
|
-$184M |
AON Hedge Fund Activity: Q4 2025 in Review
1,282 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Aon (AON) for Q4 2025, worth a combined $66.6B — up 0.49% from $66.3B a quarter earlier.
Buyers outnumbered sellers: 155 funds opened new AON positions and 101 closed out — a net gain of 54 holders — while 424 added to existing stakes and 475 trimmed.
The largest buyer was Dodge & Cox, adding an estimated $1.53B. The largest seller was Mawer Investment Management, cutting an estimated $356M.
- 1,282 institutional investors held Aon (AON) as of Q4 2025, up from 1,251 in Q3 2025.
- Funds reported $66.6B of Aon stock for Q4 2025, up 0.49% quarter-over-quarter.
- 155 funds opened new Aon positions in Q4 2025 and 101 closed out, a net change of +54 holders.
- The largest Aon buyer in Q4 2025 was Dodge & Cox, an estimated $1.53B added.
- The largest Aon seller in Q4 2025 was Mawer Investment Management, an estimated $356M sold.
Based on aggregated 13F filings for Q4 2025.