Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

AAON INC (AAON)

381 + Investors. Track Smart Money conviction in AAON. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -5
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — AAON

Based on 375 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their AAON positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (96% of max)

96% of all-time peak
375 hedge funds hold AAON right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📉

Outflows — 4% fewer funds vs a year ago

fund count last 6Q
17 fewer hedge funds hold AAON compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 47% buying

187 buying215 selling
Last quarter: 215 funds reduced or exited vs 187 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-13 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 65 → 63 → 79 → 66. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

52% of holders stayed for 2+ years

■ 52% conviction (2yr+) ■ 24% medium ■ 24% new
194 out of 375 hedge funds have held AAON for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +1%, value -17%

Value
-17%
Shares
+1%
Last quarter: funds added +1% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

72 → 65 → 63 → 79 → 66 new funds/Q
New funds entering each quarter: 65 → 63 → 79 → 66. A growing number of institutions are discovering AAON each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 54% of holders stayed 2+ years

■ 54% veterans ■ 16% 1-2yr ■ 30% new
Of 381 current holders: 206 (54%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 44% AUM from top-100 funds

44% from top-100 AUM funds
43 of 375 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in AAON. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: AAON

How many hedge funds hold AAON — quarterly history vs. share price
Quarterly hedge fund ownership of AAON vs. share price

Market Analysis: AAON

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: AAON

-- --
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

24 top-rated funds 2 high-conviction
Consensus
6.1
/ 10
breadth
×
Elite
2.0
/ 10
conviction
Hedge Fund Positioning: AAON
2026 Q1 Stats Unlock in 22 days 381 + Investors

Track Smart Money conviction in AAON. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 381 386 -1.3%
13F Shares 73M 72M 1.3%
Total Value $5.57B $6.72B -17.17%
New Positions 67 79 -12
Increased Positions 131 131 -
Closed Positions 72 65 +7
Reduced Positions 148 151 -3
Total Calls 5 5 -
Total Puts 2 4 -50.0%
PUT/CALL Ratio 0.4 0.8 Bullish

Statistics: AAON

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

381 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in AAON. Verified SEC 13F-HR filings.

Top 25 institutional holders of AAON — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 JACOBSON & SCHMITT ADVISORS, LLC 2.34% 155,986 $12.9M
2 Conestoga Capital Advisors, LLC 2.10% 1,270,237 $105.1M
3 Allied Investment Advisors, LLC 1.90% 160,040 $13.2M
4 WASATCH ADVISORS LP 1.25% 2,268,118 $187.7M
5 CHATHAM CAPITAL GROUP, INC. 0.77% 63,873 $5.3M
6 Olistico Wealth, LLC 0.73% 17,903 $1.5M
7 RIVERBRIDGE PARTNERS LLC 0.61% 302,369 $25.0M
8 ARCADIA INVESTMENT MANAGEMENT CORP/MI 0.45% 31,759 $2.6M
9 PEREGRINE CAPITAL MANAGEMENT LLC 0.38% 123,807 $10.2M
10 Maridea Wealth Management LLC 0.25% 20,623 $1.7M
11 Cadent Capital Advisors, LLC 0.16% 7,593 $628K
12 CAMPBELL NEWMAN ASSET MANAGEMENT INC 0.14% 21,246 $1.8M
13 CHICAGO TRUST Co NA 0.12% 8,995 $744K
14 Legacy Wealth Asset Management, LLC 0.07% 3,556 $294K
15 WESBANCO BANK INC 0.06% 27,500 $2.3M
16 Retirement Systems of Alabama 0.06% 216,024 $17.9M
17 Pictet Asset Management Holding SA 0.06% 671,212 $55.5M
18 OPPENHEIMER ASSET MANAGEMENT INC. 0.06% 60,456 $5.0M
19 Richard Bernstein Advisors LLC 0.05% 22,573 $1.9M
20 CAPITAL ADVISORS INC/OK 0.05% 35,964 $3.0M
21 Trust Point Inc. 0.04% 6,144 $508K
22 Inspire Investing, LLC 0.04% 6,171 $511K
23 Diversified Trust Co 0.04% 23,774 $2.0M
24 NORDEN GROUP LLC 0.03% 4,288 $355K
25 Louisiana State Employees Retirement System 0.03% 19,600 $2K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — AAON INC (AAON)

What does the Smart Money Trend signal show for AAON?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their AAON positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for AAON?

More sellers than buyers — 47% buying: Last quarter: 215 funds reduced or exited vs 187 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for AAON holders?

Elite ownership — 44% AUM from top-100 funds: 43 of 375 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in AAON. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held AAON?

52% of holders stayed for 2+ years: 194 out of 375 hedge funds have held AAON for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.