Ironvine Capital Partners, an investment management company, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. Ironvine Capital Partners emphasized in its latest investor letter that long-term equity returns are ultimately driven by underlying earnings growth, noting that businesses held across its portfolios increased earnings between 12% and 16% in 2025, while holdings have compounded profits at roughly 15%–18% annually over the past nine years. The firm expects another year of mid-teens earnings growth across its companies in 2026, supported by durable competitive advantages, reinvestment opportunities, and structural industry tailwinds. Performance for the Ironvine Concentrated Equity Composite returned 11.27% in 2025, compared with 17.88% for the S&P 500 Index, while the Ironvine Core Equity Composite gained 9.68% during the year. The letter highlighted several major portfolio holdings benefiting from trends such as cloud computing expansion, aerospace maintenance demand, datacenter and semiconductor growth tied to artificial intelligence, resilient credit markets, the continued digitization of payments, and the global need for enterprise software and risk-management services. Despite acknowledging uncertainties ranging from regulatory developments to cyclical industry conditions, the firm remains confident that owning durable, high-quality businesses with strong reinvestment opportunities can generate double-digit long-term returns even if market valuations moderate. Please review the Portfolio’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Ironvine Capital Partners highlighted stocks like Aon plc (NYSE:AON). Aon plc (NYSE:AON) is a professional services firm providing risk management, insurance brokerage, and human capital consulting solutions to organizations worldwide. The one-month return of Aon plc (NYSE:AON) was -2.07% while its shares traded between $304.59 and $402.49 over the last 52 weeks. On March 19, 2026, Aon plc (NYSE:AON) stock closed at approximately $316.99 per share, with a market capitalization of about $68.13 billion.
Ironvine Capital Partners stated the following regarding Aon plc (NYSE:AON) in its Q4 2025 investor letter:
“Aon plc (NYSE:AON) is the second largest insurance brokerage in the world and holds #1 or #2 positions in each of its major markets. Many perceive insurance as a risky business, but Aon serves as an advisor to the purchaser, not as the risk taker writing the policies. Similar to a State Farm agent who earns a commission with each policy issued, Aon takes no principal or underwriting risk. Instead, Aon earns a fee for its access to insurance underwriters and expertise in helping clients manage risk. As organizations grow in size and complexity, risk and insurance needs become materially more complicated. It is situations like these where Aon adds value. Beyond simply placing insurance and negotiating terms, experienced advisors help clients develop risk management strategies and structure coverage through a combination of traditional insurance and alternative solutions. At its core the objective is not just coverage, but a more resilient and cost-effective approach to managing a dynamic set of risks…” (Click here to read the full text).
Aon plc (NYSE:AON) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 70 hedge fund portfolios held Aon plc (NYSE:AON) at the end of the fourth quarter, which was 76 in the previous quarter. While we acknowledge the risk and potential of Aon plc (NYSE:AON) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Aon plc (NYSE:AON) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Aon plc (NYSE:AON) and shared the list of best high growth dividend stocks. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
