Which funds own AON
Aon PLC in the Q2 2026 filings. At least 16 of the 91 current managers on file reported a position, worth $14.4bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went one way: 10 managers opened or added against 6 cutting.
- Managers holding
- 16
- at least, of 91 current
- Combined value
- $14.4bn
- as reported
- Opened
- 1
- new this quarter
- Added to
- 9
- already held
- Trimmed or sold out
- 6
- 1 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Capital World Investors Long-only · $846bn book | $3.9bn | 0.5% | 11,711,650 | +$180m+233,862 | Added |
| Dodge & Cox Activist · $191bn book | $2.9bn | 1.5% | 8,593,144 | +$231m+477,049 | Added |
| MFS Investment Management Long-only · $315bn book | $2.6bn | 0.8% | 7,615,397 | -$177m-742,700 | Trimmed |
| T. Rowe Price Associates Inc Long-only · $999bn book | $1.0bn | 0.1% | 3,136,640 | +$627m+1,855,714 | Added |
| Arrowstreet Capital LP Quantitative · $225bn book | $867m | 0.4% | 2,614,754 | +$610m+1,817,336 | Added |
| AQR Capital Management LLC Quantitative · $287bn book | $623m | 0.2% | 1,905,800 | +$307m+926,045 | Added |
| Artisan Partners LP Long-only · $63.1bn book | $614m | 1.0% | 1,850,623 | +$83m+206,471 | Added |
| Neuberger Berman Group LLC Long-only · $150bn book | $561m | 0.4% | 1,691,729 | -$39m-166,105 | Trimmed |
| Farallon Capital Management LLC Long/short equity · $21.7bn book | $459m | 2.1% | 1,382,562 | -$352m-1,130,076 | Trimmed |
| Viking Global Investors LP Long/short equity · $35.1bn book | $382m | 1.1% | 1,151,269 | +$31m+64,155 | Added |
| Baupost Group LLC Activist · $5.4bn book | $228m | 4.2% | 687,000 | -$20m-82,000 | Trimmed |
| Verition Fund Management LLC Multi-strategy · $19.7bn book | $128m | 0.6% | 385,028 | +$54m+156,819 | Added |
| Polen Capital Management LLC Long-only · $11.6bn book | $54m | 0.5% | 164,035 | -$383m-1,190,018 | Trimmed |
| Woodline Partners LP Long/short equity · $32.4bn book | $51m | 0.2% | 155,078 | +$18m+52,709 | Added |
| Markel Group Inc Activist · $13.1bn book | $45m | 0.3% | 135,800 | +$1.2m0 | Held |
| Element Capital Management LLC Macro · $3.2bn book | $2.6m | 0.1% | 7,700 | opened7,700 | New |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- GAMCO Investors Inc · Activist$1.9m held before
Ownership through time
At least 24 of the 95 managers whose filings are on file listed AON in Q2 2026, against 1 in Q1 2020. 1 manager more than in Q1 2026: 3 started positions; 2 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q1 2020: 1
- Q2 2020: 27
- Q3 2020: 26
- Q4 2020: 30
- Q1 2021: 32
- Q2 2021: 34
- Q3 2021: 27
- Q4 2021: 31
- Q1 2022: 23
- Q2 2022: 32
- Q3 2022: 24
- Q4 2022: 27
- Q1 2023: 23
- Q2 2023: 17
- Q3 2023: 21
- Q4 2023: 24
- Q1 2024: 23
- Q2 2024: 21
- Q3 2024: 25
- Q4 2024: 24
- Q1 2025: 24
- Q2 2025: 24
- Q3 2025: 30
- Q4 2025: 25
- Q1 2026: 23
- Q2 2026: 24
- Q1 2020: $1.0bn
- Q2 2020: $10.4bn
- Q3 2020: $10.9bn
- Q4 2020: $10.7bn
- Q1 2021: $12.0bn
- Q2 2021: $13.2bn
- Q3 2021: $13.3bn
- Q4 2021: $14.0bn
- Q1 2022: $15.7bn
- Q2 2022: $12.5bn
- Q3 2022: $11.7bn
- Q4 2022: $12.4bn
- Q1 2023: $12.4bn
- Q2 2023: $13.8bn
- Q3 2023: $12.3bn
- Q4 2023: $10.0bn
- Q1 2024: $11.2bn
- Q2 2024: $11.0bn
- Q3 2024: $13.5bn
- Q4 2024: $14.1bn
- Q1 2025: $15.9bn
- Q2 2025: $15.0bn
- Q3 2025: $16.0bn
- Q4 2025: $16.1bn
- Q1 2026: $14.0bn
- Q2 2026: $15.0bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- T. Rowe Price Associates Inc1,280,926 to 3,136,640 shares+$616m
- Arrowstreet Capital LP797,418 to 2,614,754 shares+$603m
- AQR Capital Management LLC979,755 to 1,905,800 shares+$303m
- Dodge & Cox8,116,095 to 8,593,144 shares+$158m
- Millennium Management LLCnew: 312,198 shares+$104m
Largest decreases, by shares
- Polen Capital Management LLC1,354,053 to 164,035 shares-$395m
- Farallon Capital Management LLC2,512,638 to 1,382,562 shares-$375m
- MFS Investment Management8,358,097 to 7,615,397 shares-$251m
- Invesco Ltd1,486,623 to 1,069,331 shares-$138m
- Neuberger Berman Group LLC1,857,834 to 1,691,729 shares-$55m
Left it
No manager on file is shown leaving it.
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Capital World Investors | Q1 2020 | $4.8bn | $3.9bn | |
| Dodge & Cox | Q3 2025 | $2.9bn | $2.9bn | |
| MFS Investment Management | Q2 2020 | $5.9bn | $2.6bn | |
| T. Rowe Price Associates Inc | Q2 2020 | $1.0bn | $1.0bn | |
| Arrowstreet Capital LP | Q2 2020 | $867m | $867m | |
| AQR Capital Management LLC | Q2 2020 | $623m | $623m | |
| Artisan Partners LP | Q2 2020 | $922m | $614m | |
| Neuberger Berman Group LLC | Q2 2020 | $923m | $561m | |
| Farallon Capital Management LLC | Q2 2020 | $941m | $459m | |
| Viking Global Investors LP | Q2 2020 | $693m | $382m | |
| Invesco Ltd | Q2 2020 | $596m | $355m | |
| Baupost Group LLC | Q1 2026 | $248m | $228m | |
| Verition Fund Management LLC | Q2 2021 | $128m | $128m | |
| Millennium Management LLC | Q4 2020 | $225m | $104m | |
| Balyasny Asset Management LLC | Q1 2021 | $302m | $66m | |
| Berkshire Hathaway Inc | Q1 2021 | $1.6bn | last listed Q4 2025 | |
| Janus Henderson Group Ltd | Q2 2020 | $1.1bn | last listed Q3 2025 | |
| Wellington Management Group LLP | Q2 2020 | $850m | last listed Q3 2025 | |
| Fidelity (FMR LLC) | Q2 2023 | $520m | last listed Q2 2025 | |
| Renaissance Technologies LLC | Q2 2020 | $369m | last listed Q4 2024 | |
| Citadel Advisors LLC | Q2 2020 | $324m | last listed Q3 2025 | |
| Two Sigma Advisers LP | Q3 2020 | $258m | last listed Q2 2025 | |
| Two Sigma Investments LP | Q2 2020 | $243m | last listed Q3 2025 | |
| D. E. Shaw & Co. | Q2 2021 | $171m | last listed Q2 2025 | |
| AllianceBernstein LP | Q2 2020 | $104m | last listed Q1 2026 |
What AON is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around AON →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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