L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
40
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 28 listed it in both
Shares listed
47,695,450
combined, among listed positions
Reported value
$16.8bn
combined, at the quarter end

Among the 92 comparable managers: 17 buyers (opened or added shares) and 25 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +1,736,794.

Managers listing AON in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

40 of 40 holders

ActionFiling
Capital World Investors12,252,904$4.3bn0.59%Added+176,20711 Feb 2026 (the filing on sec.gov)
MFS Investment Management8,545,036$3.0bn0.97%Trimmed-212,65022 Jan 2026 (the filing on sec.gov)
Dodge & Cox7,852,456$2.8bn1.50%Added+4,387,77313 Feb 2026 (the filing on sec.gov)
Berkshire Hathaway Inc3,602,995$1.3bn0.46%Trimmed-497,00517 Feb 2026 (the filing on sec.gov)
Farallon Capital Management LLC2,665,238$941m4.07%Added+387,22117 Feb 2026 (the filing on sec.gov)
Polen Capital Management LLC1,846,294$652m2.78%Trimmed-643,87312 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC1,804,303$637m0.47%Trimmed-526,06027 Oct 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,341,164$473munder 0.1%Added+757,82017 Feb 2026 (the filing on sec.gov)
Invesco Ltd1,336,129$471munder 0.1%Added+86,71719 Feb 2026 (the filing on sec.gov)
Artisan Partners LP1,117,428$394m0.59%Trimmed-149,34217 Feb 2026 (the filing on sec.gov)
Viking Global Investors LP783,650$277m0.73%Trimmed-630,96817 Feb 2026 (the filing on sec.gov)
Millennium Management LLC636,922$225m0.09%Added+140,33617 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc578,391$204munder 0.1%Trimmed-35,74817 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP456,552$161m0.09%Added+279,46713 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC442,286$156munder 0.1%Trimmed-465,33417 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC430,173$152m0.08%Added+315,78517 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC387,013$137m0.17%Trimmed-459,70217 Feb 2026 (the filing on sec.gov)
Woodline Partners LP256,381$90m0.35%Trimmed-23,70417 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP218,495$77munder 0.1%Trimmed-17,26517 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC207,562$73m0.29%Added+1,83113 Feb 2026 (the filing on sec.gov)
Point72 Asset Management LP188,218$66m0.07%Added+6,16517 Feb 2026 (the filing on sec.gov)
Moore Capital Management LP139,600$49m0.71%Trimmed-72,59217 Feb 2026 (the filing on sec.gov)
Markel Group Inc134,050$47m0.38%Added+4,2506 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP84,227$30munder 0.1%Trimmed-360,98117 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC81,153$29m0.09%Added+80,60713 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (0)

No new position among listed positions.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
25 in Q3 2024 to 24 in Q2 2026

Tracked managers listing it, at least.

0102030402020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
AON by quarter
QuarterHoldersReported valueBuyersSellers
Q1 20201$1.0bnn.a.n.a.
Q2 202027$10.4bnn.a.n.a.
Q3 202026$10.9bnn.a.n.a.
Q4 202030$10.7bnn.a.n.a.
Q1 202132$12.0bnn.a.n.a.
Q2 202134$13.2bnn.a.n.a.
Q3 202127$13.3bnn.a.n.a.
Q4 202131$14.0bnn.a.n.a.
Q1 202223$15.7bnn.a.n.a.
Q2 202232$12.5bnn.a.n.a.
Q3 202224$11.7bnn.a.n.a.
Q4 202227$12.4bnn.a.n.a.
Q1 202323$12.4bnn.a.n.a.
Q2 202317$13.8bnn.a.n.a.
Q3 202321$12.3bnn.a.n.a.
Q4 202324$10.0bn159
Q1 202423$11.2bn914
Q2 202421$11.0bn137
Q3 202425$13.5bn158
Q4 202424$14.1bn1311
Q1 202524$15.9bn169
Q2 202524$15.0bn178
Q3 202530$16.0bn1712
Q4 202525$16.1bn1725
Q1 202623$14.0bn2619
Q2 202624$15.0bn2022

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

AON and V →AON and AXP →AON and BAC →Choose a stock to compare with AON →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own AON, latest filings →Back to the 13F Explorer →