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 ($186.5m this quarter). Holder counts are more reliable. Shares outstanding: 215.6m as of 2025-07-24, 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 ≈ $356.78. Options: 30 managers hold calls ($170.5m notional), 24 hold puts ($160.1m).
Trends to Q2 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 |
| Q2 2025 | 1,223 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 524 | 604 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $606.7m | $487.1m | 0.80 |
| Q4 2024 | $937.1m | $585.2m | 0.62 |
| Q1 2025 | $761.0m | $436.5m | 0.57 |
| Q2 2025 | $170.5m | $160.1m | 0.94 |
Biggest buyers
| BlackRock, Inc. | Added | +831.5k |
| MORGAN STANLEY | Added | +741.1k |
| TWO SIGMA ADVISERS, LP | New | +724.4k |
| ROYAL BANK OF CANADA | Added | +628.0k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Added | +624.7k |
| TWO SIGMA INVESTMENTS, LP | Added | +624.3k |
| FMR LLC | Added | +545.5k |
| VANGUARD GROUP INC | Added | +511.3k |
| Bank of New York Mellon Corp | Added | +473.6k |
| ALTRINSIC GLOBAL ADVISORS LLC | Added | +456.4k |
Biggest sellers
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -1.4m |
| JPMORGAN CHASE & CO | Reduced | -956.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -880.3k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -809.8k |
| MACKENZIE FINANCIAL CORP | Reduced | -652.7k |
| Boston Partners | Reduced | -640.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -445.8k |
| Balyasny Asset Management L.P. | Sold out | -428.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -418.6k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -418.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $49.8m139.5k shares |
| JANE STREET GROUP, LLC | Reduced | $27.5m77.1k shares |
| CITADEL ADVISORS LLC | Reduced | $12.8m35.8k shares |
| WOLVERINE TRADING, LLC | New | $11.8m33.4k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $10.0m28.0k shares |
| PEAK6 LLC | Added | $7.6m21.4k shares |
| IMC-Chicago, LLC | Reduced | $7.6m21.4k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $5.8m16.3k shares |
| ROYAL BANK OF CANADA | Reduced | $4.7m13.2k shares |
| Squarepoint Ops LLC | Added | $4.1m11.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $53.1m148.7k shares |
| CITADEL ADVISORS LLC | Added | $28.9m81.0k shares |
| IMC-Chicago, LLC | Added | $24.8m69.4k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $14.7m41.2k shares |
| Allianz Asset Management GmbH | Added | $7.6m21.3k shares |
| HSBC HOLDINGS PLC | Unchanged | $6.1m17.1k shares |
| PEAK6 LLC | Added | $5.9m16.6k shares |
| WOLVERINE TRADING, LLC | New | $3.2m9.1k shares |
| Baader Bank Aktiengesellschaft | Reduced | $2.3m6.4k shares |
| Walleye Capital LLC | Added | $1.9m5.4k 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.12% of their portfolio | 20.3m $7.2bn | Added +511.3k |
| BlackRock, Inc. 0.11% of their portfolio | 15.9m $5.7bn | Added +831.5k |
| Capital World Investors 0.63% of their portfolio | 12.1m $4.3bn | Added +46.7k |
| MORGAN STANLEY 0.22% of their portfolio | 9.5m $3.4bn | Added +741.1k |
| STATE STREET CORP 0.12% of their portfolio | 9.1m $3.3bn | Reduced -49.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.01% of their portfolio | 9.0m $3.2bn | Reduced -880.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.14% of their portfolio | 5.6m $2.0bn | Added +173.7k |
| JPMORGAN CHASE & CO 0.12% of their portfolio | 4.7m $1.7bn | Reduced -956.7k |
| HPS Investment Partners, LLC 99.49% of their portfolio | 4.2m $1.5bn | Reduced -96.4k |
| Berkshire Hathaway Inc 0.57% of their portfolio | 4.1m $1.5bn | Unchanged |
| Bank of New York Mellon Corp 0.24% of their portfolio | 3.5m $1.3bn | Added +473.6k |
| Mawer Investment Management Ltd. 5.38% of their portfolio | 3.0m $1.1bn | Reduced -302.0k |
| POLEN CAPITAL MANAGEMENT LLC 3.01% of their portfolio | 2.7m $979.5m | Reduced -262.1k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.77% of their portfolio | 2.7m $965.7m | Added +316.3k |
| EAGLE CAPITAL MANAGEMENT LLC 2.69% of their portfolio | 2.3m $814.9m | Reduced -339.2k |
| NORTHERN TRUST CORP 0.11% of their portfolio | 2.3m $809.4m | Reduced -21.9k |
| Artisan Partners Limited Partnership 1.16% of their portfolio | 2.2m $776.3m | Added +40.2k |
| NORGES BANK 0.09% of their portfolio | 2.1m $754.7m | Added +449.4k |
| NEUBERGER BERMAN GROUP LLC 0.57% of their portfolio | 2.1m $742.3m | Reduced -55.3k |
| WCM INVESTMENT MANAGEMENT, LLC 1.64% of their portfolio | 2.0m $719.7m | Reduced -11.6k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 3.23% of their portfolio | 2.0m $708.7m | Added +624.7k |
| Sustainable Growth Advisers, LP 3.40% of their portfolio | 1.8m $659.0m | Added +254.2k |
| LAZARD ASSET MANAGEMENT LLC 0.89% of their portfolio | 1.8m $650.3m | Reduced -418.1k |
| Veritas Asset Management LLP 6.14% of their portfolio | 1.7m $614.0m | Reduced -118.7k |
| Capital International Investors 0.10% of their portfolio | 1.7m $607.3m | Added +21.5k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 2.58% of their portfolio | 1.6m $561.7m | Added +361.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.11% of their portfolio | 1.5m $550.5m | Added +172.4k |
| Boston Partners 0.59% of their portfolio | 1.5m $528.8m | Reduced -640.5k |
| Independent Franchise Partners LLP 3.51% of their portfolio | 1.5m $528.3m | Reduced -102.3k |
| FMR LLC 0.03% of their portfolio | 1.5m $520.1m | Added +545.5k |
| BANK OF AMERICA CORP /DE/ 0.04% of their portfolio | 1.4m $508.0m | Reduced -445.8k |
| Longview Partners (Guernsey) LTD 4.02% of their portfolio | 1.3m $466.6m | Reduced -73.4k |
| Legal & General Group Plc 0.12% of their portfolio | 1.3m $466.3m | Reduced -14.3k |
| ROYAL BANK OF CANADA 0.05% of their portfolio | 1.3m $463.7m | Added +628.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 1.3m $458.1m | Added +30.0k |
| GOLDMAN SACHS GROUP INC 0.07% of their portfolio | 1.3m $449.1m | Added +134.6k |
| Invesco Ltd. 0.08% of their portfolio | 1.2m $445.2m | Added +89.7k |
| Cantillon Capital Management LLC 2.57% of their portfolio | 1.2m $445.0m | Reduced -36.2k |
| UBS Group AG 0.09% of their portfolio | 1.2m $435.2m | Reduced -85.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.07% of their portfolio | 1.1m $397.3m | Reduced -115.6k |
| AMERIPRISE FINANCIAL INC 0.09% of their portfolio | 1.1m $378.4m | Added +134.9k |
| Nuveen, LLC 0.10% of their portfolio | 1.0m $372.9m | Reduced -220.4k |
| FIL Ltd 0.30% of their portfolio | 991.7k $353.8m | Reduced -82.5k |
| Amundi 0.12% of their portfolio | 989.2k $347.7m | Added +157.3k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 896.5k $319.8m | Added +83.8k |
| California Public Employees Retirement System 0.17% of their portfolio | 734.5k $262.0m | Reduced -95.5k |
| TWO SIGMA ADVISERS, LP 0.53% of their portfolio | 724.4k $258.4m | New |
| ALTRINSIC GLOBAL ADVISORS LLC 8.95% of their portfolio | 692.6k $247.1m | Added +456.4k |
| MACKENZIE FINANCIAL CORP 0.32% of their portfolio | 683.6k $243.9m | Reduced -652.7k |
| VOYA INVESTMENT MANAGEMENT LLC 0.24% of their portfolio | 678.6k $242.1m | Reduced -809.8k |
| First Pacific Advisors, LP 3.33% of their portfolio | 652.0k $232.6m | Reduced -28.0k |
| BARCLAYS PLC 0.09% of their portfolio | 650.8k $232.2m | Reduced -228.1k |
| USS Investment Management Ltd 1.43% of their portfolio | 640.8k $228.6m | Added +475 |
| TWO SIGMA INVESTMENTS, LP 0.40% of their portfolio | 629.6k $224.6m | Added +624.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 621.6k $221.8m | Reduced -40.0k |
| C WorldWide Group Holding A/S 3.00% of their portfolio | 620.7k $221.4m | Reduced -108.1k |
| OMERS ADMINISTRATION Corp 1.69% of their portfolio | 601.4k $214.6m | Unchanged |
| Swiss National Bank 0.13% of their portfolio | 588.4k $209.9m | Added +39.4k |
| BLAIR WILLIAM & CO/IL 0.56% of their portfolio | 568.0k $202.6m | Added +13.2k |
| FIRST TRUST ADVISORS LP 0.16% of their portfolio | 552.6k $197.1m | Added +35.2k |
| Fiera Capital Corp 0.63% of their portfolio | 521.8k $186.2m | Added +68.4k |
| Prana Capital Management, LP 6.69% of their portfolio | 517.5k $184.6m | Added +264.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.10% of their portfolio | 463.8k $165.5m | Added +9.8k |
| Vontobel Holding Ltd. 0.54% of their portfolio | 461.0k $164.5m | Added +338.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 428.5k $152.9m | Reduced -32.7k |
| National Pension Service 0.13% of their portfolio | 416.5k $148.6m | Added +67.3k |
| Woodline Partners LP 0.78% of their portfolio | 413.0k $147.3m | Added +76.4k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 410.4k $146.4m | Reduced -60.3k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 406.9k $145.2m | Added +4.2k |
| SEI INVESTMENTS CO 0.17% of their portfolio | 405.0k $144.5m | Reduced -14.1k |
| Douglass Winthrop Advisors, LLC 2.56% of their portfolio | 397.1k $141.7m | Added +29.4k |
| RHUMBLINE ADVISERS 0.12% of their portfolio | 394.4k $140.7m | Added +17.0k |
| Haverford Trust Co 1.31% of their portfolio | 385.3k $137.5m | Reduced -1.4k |
| Alyeska Investment Group, L.P. 0.48% of their portfolio | 376.7k $134.4m | New |
| FIDUCIENT ADVISORS LLC 14.77% of their portfolio | 338.2k $120.7m | Reduced -86.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.16% of their portfolio | 333.1k $118.8m | Added +13.3k |
| BANK OF MONTREAL /CAN/ 0.06% of their portfolio | 323.7k $115.5m | Reduced -46.5k |
| NorthCoast Asset Management LLC 0.48% of their portfolio | 316.0k $112.7m | Reduced -11.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.12% of their portfolio | 312.6k $111.5m | Added +2.8k |
| AVIVA PLC 0.23% of their portfolio | 311.5k $111.1m | Added +61.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.10% of their portfolio | 311.3k $111.1m | Added +182.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.18% of their portfolio | 302.3k $107.8m | Added +131.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio | 295.6k $105.4m | Reduced -72.7k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 292.2k $104.2m | Added +76.1k |
| Russell Investments Group, Ltd. 0.13% of their portfolio | 291.7k $104.0m | Added +3.4k |
| T. Rowe Price Investment Management, Inc. 0.06% of their portfolio | 287.9k $102.7m | Added +3.5k |
| BloombergSen Inc. 8.62% of their portfolio | 286.0k $102.0m | Reduced -3.5k |
| DAVENPORT & Co LLC 0.54% of their portfolio | 276.1k $98.2m | Reduced -8 |
| DekaBank Deutsche Girozentrale 0.17% of their portfolio | 275.4k $97.0m | Added +335 |
| Bowie Capital Management, LLC 4.60% of their portfolio | 272.4k $97.2m | Added +40.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio | 261.3k $93.2m | Reduced -4.1k |
| NATIXIS ADVISORS, LLC 0.14% of their portfolio | 253.9k $90.6m | Reduced -32.6k |
| Verition Fund Management LLC 0.52% of their portfolio | 253.9k $90.6m | Added +9.8k |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 252.0k $89.9m | Reduced -20.0k |
| BRISTOL JOHN W & CO INC /NY/ 1.44% of their portfolio | 249.5k $89.0m | New |
| LORD, ABBETT & CO. LLC 0.28% of their portfolio | 245.4k $87.6m | Added +2.7k |
| MARSHALL WACE, LLP 0.10% of their portfolio | 241.6k $86.2m | Added +211.2k |
| Ensign Peak Advisors, Inc 0.15% of their portfolio | 239.3k $85.4m | Reduced -20.2k |
| Wealthspire Advisors, LLC 0.47% of their portfolio | 233.2k $83.2m | Reduced -55.0k |
| Cryder Capital Partners LLP 4.65% of their portfolio | 231.3k $82.5m | New |