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 ($73.1m this quarter). Holder counts are more reliable. Shares outstanding: 215.9m as of 2025-04-24, 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 ≈ $398.03. Options: 31 managers hold calls ($761.0m notional), 34 hold puts ($436.5m).
Trends to Q1 2025
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 |
| Q2 2024 | 1,100 |
| Q3 2024 | 1,139 |
| Q4 2024 | 1,183 |
| Q1 2025 | 1,265 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 398 | 475 |
| Q3 2023 | 442 | 445 |
| Q4 2023 | 412 | 487 |
| Q1 2024 | 469 | 508 |
| Q2 2024 | 512 | 469 |
| Q3 2024 | 525 | 453 |
| Q4 2024 | 490 | 487 |
| Q1 2025 | 620 | 466 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $455.4m | $382.3m | 0.84 |
| Q3 2024 | $606.7m | $487.1m | 0.80 |
| Q4 2024 | $937.1m | $585.2m | 0.62 |
| Q1 2025 | $761.0m | $436.5m | 0.57 |
Biggest buyers
| POLEN CAPITAL MANAGEMENT LLC | Added | +2.3m |
| WELLINGTON MANAGEMENT GROUP LLP | New | +1.2m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +884.7k |
| Bank of New York Mellon Corp | Added | +469.2k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +464.6k |
| UBS Group AG | Added | +415.9k |
| MILLENNIUM MANAGEMENT LLC | Added | +359.2k |
| MORGAN STANLEY | Added | +342.0k |
| BlackRock, Inc. | Added | +340.4k |
| BARCLAYS PLC | Added | +332.4k |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -3.2m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.8m |
| EAGLE CAPITAL MANAGEMENT LLC | Reduced | -1.4m |
| Meritage Group LP | Sold out | -996.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -860.3k |
| VIKING GLOBAL INVESTORS LP | Sold out | -720.4k |
| Sustainable Growth Advisers, LP | Reduced | -670.8k |
| Mawer Investment Management Ltd. | Reduced | -629.2k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Reduced | -471.0k |
| Independent Franchise Partners LLP | Reduced | -433.8k |
Biggest calls
| JANE STREET GROUP, LLC | Reduced | $403.5m1.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $122.0m305.8k shares |
| CITADEL ADVISORS LLC | Reduced | $40.7m101.9k shares |
| ROYAL BANK OF CANADA | Reduced | $21.9m55.0k shares |
| GARDA CAPITAL PARTNERS LP | Added | $21.1m52.9k shares |
| IMC-Chicago, LLC | Added | $18.0m45.1k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $18.0m45.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.4m36.0k shares |
| GROUP ONE TRADING LLC | Added | $13.4m33.5k shares |
| Walleye Capital LLC | Reduced | $12.5m31.3k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $160.2m401.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $53.4m133.7k shares |
| Oribel Capital Management, LP | Added | $36.0m90.1k shares |
| Hudson Bay Capital Management LP | New | $35.9m90.0k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $33.7m84.4k shares |
| GARDA CAPITAL PARTNERS LP | Added | $21.5m53.8k shares |
| CITADEL ADVISORS LLC | Reduced | $15.8m39.7k shares |
| Walleye Trading LLC | Reduced | $9.1m22.9k shares |
| IMC-Chicago, LLC | Reduced | $7.9m19.9k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $7.3m182 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 2025
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 2023 | 0 | — | 1 | $2.5m | — |
| Q3 2023 | 1 | $259.7k | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 1 | $15.1m | 4 | $25.2m | — |
| Q2 2024 | 1 | $2.8m | 0 | — | — |
| Q3 2024 | 1 | $246.6k | 2 | $2.5m | $2.0m |
| Q4 2024 | 0 | — | 2 | $750.6k | — |
| Q1 2025 | 0 | — | 0 | — | — |
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.14% of their portfolio | 19.8m $7.9bn | Added +258.7k |
| BlackRock, Inc. 0.13% of their portfolio | 15.1m $6.0bn | Added +340.4k |
| Capital World Investors 0.78% of their portfolio | 12.1m $4.8bn | Added +320 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.30% of their portfolio | 9.8m $3.9bn | Reduced -1.8m |
| STATE STREET CORP 0.15% of their portfolio | 9.2m $3.7bn | Added +82.9k |
| MORGAN STANLEY 0.25% of their portfolio | 8.7m $3.5bn | Added +342.0k |
| JPMORGAN CHASE & CO 0.17% of their portfolio | 5.7m $2.3bn | Added +300.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.17% of their portfolio | 5.4m $2.2bn | Added +464.6k |
| HPS Investment Partners, LLC 99.01% of their portfolio | 4.3m $1.7bn | Unchanged |
| Berkshire Hathaway Inc 0.63% of their portfolio | 4.1m $1.6bn | Unchanged |
| Mawer Investment Management Ltd. 6.31% of their portfolio | 3.3m $1.3bn | Reduced -629.2k |
| Bank of New York Mellon Corp 0.24% of their portfolio | 3.0m $1.2bn | Added +469.2k |
| POLEN CAPITAL MANAGEMENT LLC 3.77% of their portfolio | 3.0m $1.2bn | Added +2.3m |
| EAGLE CAPITAL MANAGEMENT LLC 3.82% of their portfolio | 2.6m $1.0bn | Reduced -1.4m |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.88% of their portfolio | 2.4m $954.1m | Added +61.4k |
| NORTHERN TRUST CORP 0.14% of their portfolio | 2.3m $914.2m | Added +131.7k |
| LAZARD ASSET MANAGEMENT LLC 1.37% of their portfolio | 2.2m $894.3m | Reduced -96.2k |
| NEUBERGER BERMAN GROUP LLC 0.71% of their portfolio | 2.1m $852.5m | Added +12.2k |
| Artisan Partners Limited Partnership 1.38% of their portfolio | 2.1m $852.4m | Added +68.3k |
| Boston Partners 1.02% of their portfolio | 2.1m $844.5m | Added +85.6k |
| WCM INVESTMENT MANAGEMENT, LLC 2.08% of their portfolio | 2.1m $809.5m | Added +6.0k |
| BANK OF AMERICA CORP /DE/ 0.07% of their portfolio | 1.9m $746.2m | Added +263.4k |
| Veritas Asset Management LLP 7.42% of their portfolio | 1.8m $734.2m | Reduced -381.0k |
| Capital International Investors 0.13% of their portfolio | 1.7m $670.8m | Reduced -242.9k |
| NORGES BANK 0.09% of their portfolio | 1.7m $664.9m | Added +4.7k |
| Sustainable Growth Advisers, LP 3.55% of their portfolio | 1.6m $635.7m | Reduced -670.8k |
| Independent Franchise Partners LLP 4.51% of their portfolio | 1.6m $631.8m | Reduced -433.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.33% of their portfolio | 1.5m $594.0m | Added +884.7k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.68% of their portfolio | 1.5m $586.7m | Reduced -18.0k |
| Longview Partners (Guernsey) LTD 4.44% of their portfolio | 1.4m $551.3m | Reduced -86.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.14% of their portfolio | 1.4m $547.0m | Added +96.6k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 2.04% of their portfolio | 1.4m $378.3m | Reduced -471.0k |
| MACKENZIE FINANCIAL CORP 0.76% of their portfolio | 1.3m $533.3m | Reduced -3.2m |
| Legal & General Group Plc 0.14% of their portfolio | 1.3m $527.3m | Reduced -58.6k |
| UBS Group AG 0.12% of their portfolio | 1.3m $521.0m | Added +415.9k |
| Cantillon Capital Management LLC 3.32% of their portfolio | 1.3m $512.3m | Reduced -39.7k |
| Nuveen, LLC 0.15% of their portfolio | 1.3m $505.1m | First filing |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.09% of their portfolio | 1.3m $500.5m | Added +16.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 1.2m $490.6m | New |
| Diamond Hill Capital Management, LLC (Investment Advisor) 2.22% of their portfolio | 1.2m $483.9m | Reduced -35.1k |
| Invesco Ltd. 0.09% of their portfolio | 1.2m $462.2m | Added +137.1k |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 1.1m $448.7m | Added +3.9k |
| FIL Ltd 0.41% of their portfolio | 1.1m $428.7m | Reduced -86.3k |
| AMERIPRISE FINANCIAL INC 0.10% of their portfolio | 925.7k $369.4m | Added +1.7k |
| FMR LLC 0.02% of their portfolio | 912.2k $364.0m | Added +10.0k |
| BARCLAYS PLC 0.16% of their portfolio | 878.9k $350.8m | Added +332.4k |
| Amundi 0.12% of their portfolio | 831.9k $328.0m | Added +88.2k |
| California Public Employees Retirement System 0.23% of their portfolio | 830.0k $331.2m | Reduced -24.8k |
| DIMENSIONAL FUND ADVISORS LP 0.08% of their portfolio | 812.7k $324.3m | Added +75.8k |
| C WorldWide Group Holding A/S 3.61% of their portfolio | 728.8k $290.8m | Reduced -15.9k |
| First Pacific Advisors, LP 4.35% of their portfolio | 680.0k $271.4m | Reduced -48.5k |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 671.7k $268.1m | Added +109.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 661.6k $264.0m | Reduced -46.1k |
| USS Investment Management Ltd 1.94% of their portfolio | 640.3k $255.5m | Reduced -3.6k |
| OMERS ADMINISTRATION Corp 2.10% of their portfolio | 601.4k $240.0m | Reduced -1.2k |
| BLAIR WILLIAM & CO/IL 0.67% of their portfolio | 554.8k $221.4m | Reduced -9.5k |
| Swiss National Bank 0.15% of their portfolio | 549.0k $219.1m | Reduced -3.3k |
| FIRST TRUST ADVISORS LP 0.18% of their portfolio | 517.4k $206.5m | Reduced -18.8k |
| Assenagon Asset Management S.A. 0.35% of their portfolio | 493.7k $197.0m | Added +331.9k |
| DEUTSCHE BANK AG\ 0.07% of their portfolio | 470.7k $187.8m | Added +25.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio | 461.2k $184.0m | Added +92.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.13% of their portfolio | 454.0k $181.2m | Reduced -419 |
| Fiera Capital Corp 0.65% of their portfolio | 453.4k $180.9m | Reduced -43.9k |
| Balyasny Asset Management L.P. 0.43% of their portfolio | 428.8k $171.1m | Reduced -36.2k |
| MILLENNIUM MANAGEMENT LLC 0.16% of their portfolio | 425.7k $169.9m | Added +359.2k |
| FIDUCIENT ADVISORS LLC 21.19% of their portfolio | 424.9k $169.6m | Added +73.4k |
| SEI INVESTMENTS CO 0.22% of their portfolio | 419.1k $167.3m | Added +118.4k |
| WELLS FARGO & COMPANY/MN 0.04% of their portfolio | 402.7k $160.7m | Added +118.5k |
| Haverford Trust Co 1.55% of their portfolio | 386.7k $154.3m | Added +46.5k |
| RHUMBLINE ADVISERS 0.14% of their portfolio | 377.4k $150.6m | Added +8.6k |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 370.2k $147.7m | Added +6.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.11% of their portfolio | 368.3k $147.0m | First filing |
| Douglass Winthrop Advisors, LLC 2.79% of their portfolio | 367.7k $146.7m | Reduced -4.3k |
| National Pension Service 0.13% of their portfolio | 349.2k $139.3m | Added +13.9k |
| Woodline Partners LP 0.87% of their portfolio | 336.5k $134.3m | Added +95.8k |
| NorthCoast Asset Management LLC 0.66% of their portfolio | 327.3k $130.6m | Added +24.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.19% of their portfolio | 319.8k $127.6m | Added +38.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.15% of their portfolio | 309.8k $123.6m | Reduced -4.5k |
| BloombergSen Inc. 9.98% of their portfolio | 289.5k $115.5m | Reduced -5.1k |
| Russell Investments Group, Ltd. 0.16% of their portfolio | 288.3k $115.0m | Added +34.8k |
| Wealthspire Advisors, LLC 0.69% of their portfolio | 288.1k $115.0m | Reduced -8.7k |
| NATIXIS ADVISORS, LLC 0.21% of their portfolio | 286.5k $114.3m | Added +6.3k |
| T. Rowe Price Investment Management, Inc. 0.08% of their portfolio | 284.4k $113.5m | New |
| CITADEL ADVISORS LLC 0.11% of their portfolio | 282.7k $112.8m | Added +255.7k |
| DAVENPORT & Co LLC 0.65% of their portfolio | 276.1k $109.9m | Reduced -2.0k |
| DekaBank Deutsche Girozentrale 0.21% of their portfolio | 275.1k $107.6m | Reduced -335 |
| RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio | 272.1k $108.6m | Added +31.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.06% of their portfolio | 265.5k $105.9m | Reduced -1.9k |
| Ensign Peak Advisors, Inc 0.20% of their portfolio | 259.5k $103.6m | Added +58.5k |
| Prana Capital Management, LP 4.10% of their portfolio | 252.6k $100.8m | Added +121.5k |
| AVIVA PLC 0.24% of their portfolio | 249.7k $99.6m | Reduced -6.1k |
| Verition Fund Management LLC 0.56% of their portfolio | 244.1k $97.4m | Reduced -25.2k |
| LORD, ABBETT & CO. LLC 0.35% of their portfolio | 242.7k $96.9m | Added +3.6k |
| CITIGROUP INC 0.07% of their portfolio | 236.5k $94.4m | Added +107.7k |
| ALTRINSIC GLOBAL ADVISORS LLC 4.65% of their portfolio | 236.2k $94.3m | Reduced -1.1k |
| Bowie Capital Management, LLC 4.69% of their portfolio | 231.9k $92.5m | Reduced -39.1k |
| Scharf Investments, LLC 2.78% of their portfolio | 230.5k $92.0m | Reduced -5.9k |
| Qube Research & Technologies Ltd 0.14% of their portfolio | 225.3k $89.9m | Added +171.9k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 216.1k $86.3m | Reduced -492 |
| WEITZ INVESTMENT MANAGEMENT, INC. 4.53% of their portfolio | 213.4k $85.2m | Reduced -47.5k |