AON PLC AON
SHS CL A · Common Stock · CUSIP G0403H108
British multinational corporation
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($167.8m this quarter). Holder counts are more reliable. Shares outstanding: 198.5m as of 2024-04-12, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $333.55. Options: 27 managers hold calls ($202.2m notional), 27 hold puts ($130.8m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 939 |
| Q4 2022 | 1,023 |
| Q1 2023 | 1,002 |
| Q2 2023 | 1,014 |
| Q3 2023 | 1,037 |
| Q4 2023 | 1,053 |
| Q1 2024 | 1,073 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 438 | 416 |
| Q1 2023 | 402 | 479 |
| Q2 2023 | 398 | 475 |
| Q3 2023 | 442 | 445 |
| Q4 2023 | 412 | 487 |
| Q1 2024 | 469 | 508 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $165.3m | $262.8m | 1.59 |
| Q3 2023 | $178.4m | $244.8m | 1.37 |
| Q4 2023 | $180.7m | $242.0m | 1.34 |
| Q1 2024 | $202.2m | $130.8m | 0.65 |
Biggest buyers
| MORGAN STANLEY | Added | +9.3m |
| BlackRock Inc. | Added | +1.1m |
| EAGLE CAPITAL MANAGEMENT LLC | Added | +807.9k |
| Meritage Group LP | New | +774.5k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Added | +712.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. | Added | +471.4k |
| Independent Franchise Partners LLP | Added | +427.0k |
| AMERIPRISE FINANCIAL INC | Added | +399.7k |
| National Pension Service | New | +364.1k |
| Boston Partners | Added | +343.6k |
Biggest sellers
| GQG Partners LLC | Sold out | -1.8m |
| Artisan Partners Limited Partnership | Reduced | -554.9k |
| BESSEMER GROUP INC | Reduced | -553.1k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | Sold out | -480.6k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -385.0k |
| JANUS HENDERSON GROUP PLC | Reduced | -359.1k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -345.6k |
| Qube Research & Technologies Ltd | Reduced | -345.4k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -291.2k |
| Capital International Investors | Reduced | -283.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $44.0m131.9k shares |
| CITADEL ADVISORS LLC | Added | $31.3m93.7k shares |
| Oribel Capital Management, LP | Added | $26.7m80.0k shares |
| SIMPLEX TRADING, LLC | Added | $19.6m58.7k shares |
| UBS Group AG | Reduced | $17.0m50.9k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $15.0m45.0k shares |
| JANE STREET GROUP, LLC | Added | $8.2m24.5k shares |
| JPMORGAN CHASE & CO | Reduced | $6.9m20.8k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | $6.1m18.3k shares |
| WOLVERINE TRADING, LLC | Reduced | $4.9m14.7k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $28.1m84.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $21.2m63.6k shares |
| UBS Group AG | Reduced | $18.4m55.0k shares |
| Walleye Capital LLC | Added | $12.8m38.3k shares |
| SIMPLEX TRADING, LLC | Added | $10.0m30.1k shares |
| IMC-Chicago, LLC | Added | $7.2m21.7k shares |
| Cubist Systematic Strategies, LLC | Added | $5.8m17.5k shares |
| WOLVERINE TRADING, LLC | Added | $4.7m14.2k shares |
| Interval Partners, LP | New | $4.1m124 shares |
| Baader Bank Aktiengesellschaft | Reduced | $3.4m10.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.3% |
| JPMORGAN CHASE & CO 13G · institution +1.1 pts · filed 2026-10-16 | 6.7% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2022 | 1 | $4.0m | 0 | — | — |
| Q3 2022 | 1 | $116.7k | 2 | $288.2k | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 2 | $22.7m | — |
| Q2 2023 | 0 | — | 1 | $2.5m | — |
| Q3 2023 | 1 | $259.7k | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 1 | $15.1m | 4 | $25.2m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-03-06 | Stevens Lisa Chief People Officer | Sold | $99.7k315 shares |
| 2024-03-01 | Andersen Eric President | Sold | $1.7m5.5k shares |
| 2024-02-23 | Stevens Lisa Chief People Officer | Sold | $4.1m13.0k shares |
| 2024-02-16 | Davies Christa Chief Financial Officer | Sold | $12.6m40.2k shares |
| 2024-02-15 | Neller Michael Principal Accounting Officer | Sold | $234.0k750 shares |
| 2024-02-12 | Davies Christa Chief Financial Officer | Sold | $6.4m20.6k shares |
| 2024-02-07 | KNIGHT LESTER B Director · By Family Partnership | Bought | $7.5m25.0k shares |
| 2024-02-07 | KNIGHT LESTER B Director · Marital Trust | Bought | $7.5m25.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.19% of their portfolio | 21.6m $7.2bn | Added +9.3m |
| VANGUARD GROUP INC 0.12% of their portfolio | 17.7m $5.9bn | Added +64.5k |
| BlackRock Inc. 0.11% of their portfolio | 14.5m $4.8bn | Added +1.1m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.22% of their portfolio | 12.2m $4.1bn | Reduced -229.5k |
| Capital World Investors 0.54% of their portfolio | 9.7m $3.3bn | Added +5.0k |
| STATE STREET CORP 0.12% of their portfolio | 8.2m $2.8bn | Added +28.5k |
| Capital International Investors 0.35% of their portfolio | 5.2m $1.7bn | Reduced -283.1k |
| Mawer Investment Management Ltd. 6.74% of their portfolio | 4.4m $1.5bn | Reduced -69.3k |
| WCM INVESTMENT MANAGEMENT, LLC 3.44% of their portfolio | 4.3m $1.4bn | Reduced -102.6k |
| Berkshire Hathaway Inc 0.41% of their portfolio | 4.1m $1.4bn | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.12% of their portfolio | 3.9m $1.3bn | Reduced -291.2k |
| LAZARD ASSET MANAGEMENT LLC 1.39% of their portfolio | 3.4m $1.1bn | Reduced -385.0k |
| Sustainable Growth Advisers, LP 3.92% of their portfolio | 2.8m $936.2m | Added +127.2k |
| EAGLE CAPITAL MANAGEMENT LLC 3.60% of their portfolio | 2.8m $930.9m | Added +807.9k |
| MACKENZIE FINANCIAL CORP 1.19% of their portfolio | 2.5m $821.1m | Added +129.3k |
| Independent Franchise Partners LLP 6.52% of their portfolio | 2.4m $787.7m | Added +427.0k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 2.1m $710.0m | Added +201.4k |
| NORTHERN TRUST CORP 0.12% of their portfolio | 2.0m $678.9m | Reduced -108.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.90% of their portfolio | 1.9m $648.7m | Added +471.4k |
| BANK OF AMERICA CORP /DE/ 0.06% of their portfolio | 1.9m $618.1m | Added +244.7k |
| NEUBERGER BERMAN GROUP LLC 0.48% of their portfolio | 1.7m $574.8m | Reduced -22.8k |
| Longview Partners (Guernsey) LTD 3.70% of their portfolio | 1.7m $573.7m | Added +10.5k |
| NORGES BANK 0.08% of their portfolio | 1.6m $517.8m | Added +98.0k |
| Bank of New York Mellon Corp 0.09% of their portfolio | 1.5m $484.7m | Added +12.4k |
| Legal & General Group Plc 0.14% of their portfolio | 1.4m $472.4m | Reduced -30.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.15% of their portfolio | 1.3m $425.9m | Reduced -54.0k |
| FIL Ltd 0.41% of their portfolio | 1.2m $414.6m | Added +212.3k |
| Cantillon Capital Management LLC 2.51% of their portfolio | 1.2m $399.2m | Reduced -24.0k |
| Invesco Ltd. 0.08% of their portfolio | 1.1m $374.0m | Reduced -92.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 1.1m $359.6m | Added +19.2k |
| California Public Employees Retirement System 0.25% of their portfolio | 1.1m $352.8m | Reduced -20.2k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.38% of their portfolio | 1.0m $334.9m | Added +712.4k |
| Boston Partners 0.39% of their portfolio | 984.4k $326.9m | Added +343.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.30% of their portfolio | 964.6k $321.9m | Added +14.4k |
| BARCLAYS PLC 0.14% of their portfolio | 951.1k $317.4m | Added +170.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.17% of their portfolio | 875.9k $292.3m | Reduced -2.0k |
| POLEN CAPITAL MANAGEMENT LLC 0.64% of their portfolio | 830.1k $277.0m | Added +10.5k |
| C WorldWide Group Holding A/S 3.13% of their portfolio | 824.1k $275.0m | Reduced -4.7k |
| Meritage Group LP 6.09% of their portfolio | 774.5k $258.5m | New |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 752.9k $251.3m | Reduced -232.0k |
| First Pacific Advisors, LP 3.38% of their portfolio | 721.8k $240.9m | Added +8.8k |
| AMERIPRISE FINANCIAL INC 0.06% of their portfolio | 704.0k $234.9m | Added +399.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 658.4k $219.7m | Reduced -222.3k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 1.24% of their portfolio | 632.0k $210.9m | Not comparable |
| USS Investment Management Ltd 1.70% of their portfolio | 613.7k $204.8m | Added +85.4k |
| BLAIR WILLIAM & CO/IL 0.64% of their portfolio | 611.2k $204.0m | Reduced -129.9k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 609.4k $203.4m | Reduced -156.2k |
| Swiss National Bank 0.14% of their portfolio | 599.6k $200.1m | Reduced -34.8k |
| OMERS ADMINISTRATION Corp 2.27% of their portfolio | 594.3k $198.3m | Unchanged |
| Fiera Capital Corp 0.55% of their portfolio | 567.1k $189.3m | Reduced -111.1k |
| Nuveen Asset Management, LLC 0.05% of their portfolio | 535.8k $178.8m | Reduced -94.4k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.65% of their portfolio | 532.5k $177.7m | Added +224.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.11% of their portfolio | 496.8k $165.8m | Reduced -8.8k |
| Qube Research & Technologies Ltd 0.26% of their portfolio | 436.8k $145.8m | Reduced -345.4k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 417.2k $139.2m | Reduced -98.2k |
| Amundi 0.05% of their portfolio | 413.4k $127.6m | Reduced -36.7k |
| FMR LLC 0.01% of their portfolio | 376.0k $125.5m | Added +68.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio | 369.6k $123.3m | Added +15.4k |
| RHUMBLINE ADVISERS 0.12% of their portfolio | 364.6k $121.7m | Reduced -6.6k |
| National Pension Service 0.15% of their portfolio | 364.1k $121.5m | New |
| Douglass Winthrop Advisors, LLC 2.45% of their portfolio | 356.7k $119.0m | Added +2.3k |
| Haverford Trust Co 1.21% of their portfolio | 347.3k $115.9m | Added +1.6k |
| Assenagon Asset Management S.A. 0.31% of their portfolio | 344.9k $115.1m | Added +276.1k |
| NATIXIS ADVISORS, LLC 0.26% of their portfolio | 340.5k $113.6m | Reduced -121.5k |
| Russell Investments Group, Ltd. 0.18% of their portfolio | 340.1k $113.5m | Added +2.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.14% of their portfolio | 332.7k $111.0m | Added +903 |
| NorthCoast Asset Management LLC 1.40% of their portfolio | 329.0k $109.8m | Added +177.1k |
| BANK OF MONTREAL /CAN/ 0.03% of their portfolio | 324.8k $109.0m | Added +214 |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 324.7k $108.4m | Added +34.5k |
| Veritas Asset Management LLP 0.75% of their portfolio | 311.9k $104.1m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.14% of their portfolio | 308.0k $102.8m | Reduced -28.3k |
| BloombergSen Inc. 8.79% of their portfolio | 305.1k $101.8m | Reduced -6.0k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 303.7k $101.4m | Reduced -84.6k |
| Point72 Asset Management, L.P. 0.29% of their portfolio | 300.8k $100.4m | Added +290.8k |
| Ceredex Value Advisors LLC 1.74% of their portfolio | 297.8k $99.4m | New |
| Prana Capital Management, LP 4.34% of their portfolio | 289.8k $96.7m | Added +120.7k |
| CREDIT SUISSE AG/ 0.09% of their portfolio | 282.5k $94.3m | Reduced -13.6k |
| DAVENPORT & Co LLC 0.58% of their portfolio | 281.3k $93.8m | Added +6.2k |
| Capital Group Private Client Services, Inc. 0.95% of their portfolio | 278.8k $93.1m | Reduced -84.4k |
| DekaBank Deutsche Girozentrale 0.17% of their portfolio | 275.1k $92.1m | Added +59.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.32% of their portfolio | 275.0k $91.8m | Added +188.0k |
| UBS Group AG 0.03% of their portfolio | 267.1k $89.1m | Reduced -22.2k |
| Artisan Partners Limited Partnership 0.12% of their portfolio | 256.5k $85.6m | Reduced -554.9k |
| Pictet Asset Management Holding SA 0.09% of their portfolio | 252.3k $84.2m | Added +26.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.10% of their portfolio | 242.2k $80.8m | Added +15.3k |
| James Hambro & Partners LLP 3.74% of their portfolio | 239.4k $79.9m | Added +15.5k |
| AVIVA PLC 0.26% of their portfolio | 238.8k $79.7m | Reduced -7.5k |
| Ensign Peak Advisors, Inc 0.14% of their portfolio | 235.5k $78.6m | Added +31.4k |
| NICHOLAS COMPANY, INC. 1.26% of their portfolio | 228.2k $76.2m | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.17% of their portfolio | 227.5k $71.7m | Added +17.5k |
| SEI INVESTMENTS CO 0.11% of their portfolio | 226.6k $75.6m | Reduced -40.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.12% of their portfolio | 221.7k $74.0m | Added +92.3k |
| Zurich Insurance Group Ltd/FI 0.67% of their portfolio | 219.2k $73.2m | Added +137.4k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 219.2k $73.1m | Reduced -12.6k |
| Bowie Capital Management, LLC 5.83% of their portfolio | 212.4k $70.9m | Added +42.3k |
| COOPER INVESTORS PTY LTD 3.95% of their portfolio | 205.3k $68.5m | Reduced -9.0k |
| Woodline Partners LP 0.61% of their portfolio | 199.1k $66.4m | New |
| Broad Run Investment Management, LLC 7.68% of their portfolio | 187.4k $62.5m | Reduced -1.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.13% of their portfolio | 184.6k $61.6m | Reduced -5.8k |
| Man Group plc 0.17% of their portfolio | 184.2k $61.5m | Reduced -43.4k |