AAON, Inc. (AAON)

Highly Crowded

Held by 374 of 5,944 reporting institutions (96th percentile) — extremely crowded.

Data as of Q1 2026

Institutional Ownership

83.20%

QoQ Change

-4.15%

Total Value

$5.6T

Shares Outstanding

81.9M

Crowding AnalysisHighly Crowded

Holders374of 5,944

Avg: 68

Uncrowded96th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.06x

89th percentile

208 buying197 selling

+59

New

-61

Closed

-3,773,450

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 3.3 QHolders: 374

Ownership Concentration

Top 5: 33.5%Top 10: 46.7%

WELLINGTON MANAGEMENT GROUP LLP11.7%

BlackRock,9.6%

VANGUARD CAPITAL MANAGEMENT4.5%

VANGUARD PORTFOLIO MANAGEMENT4.3%

WASATCH ADVISORS3.3%

Others (369)66.5%

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Conviction-Weighted Ownership

Median weight: 0.12%Avg weight: 0.66%Max: 3.03%High conviction (>1%): 3

WELLINGTON MANAGEMENT GROUP LLP

BlackRock,

VANGUARD CAPITAL MANAGEMENT

VANGUARD PORTFOLIO MANAGEMENT

WASATCH ADVISORS

STATE STREET

FIRST TRUST ADVISORS

GENEVA CAPITAL MANAGEMENT

BLAIR WILLIAM & CO/IL

Champlain Investment Partners,

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWVANGUARD CAPITAL MANAGEMENT$256M3.1M shr

NEWVANGUARD PORTFOLIO MANAGEMENT$241M2.9M shr

NEWFIRST TRUST ADVISORS$167M2.0M shr

BOUGHTWELLINGTON MANAGEMENT GROUP LLP$94M1.1M shr

BOUGHTWASATCH ADVISORS$36M437K shr

BOUGHTWELLINGTON MANAGEMENT GROUP LLP$160M2.1M shr

NEWConestoga Capital Advisors$135M1.8M shr

SOLDChamplain Investment Partners$50M656K shr

SOLDMORGAN STANLEY$25M322K shr

SOLDWASATCH ADVISORS$23M308K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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