Gallagher Fiduciary Advisors, LLC

Registered adviser

CIK

1527781

Location

ROLLING MEADOWS, IL

Portfolio Value

Mid $3,387,389,869

Diversification

Moderately concentrated

Reports for

Arthur J. Gallagher & Co. Gallagher Benefit Services, Inc.

Filing Date

Global Rank

#1,156 / 8,818 ▲ 119

Top Industry

Restaurants 47.1%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 146509

Roster of Oct 1, 2026

Regulatory AUM

$194,823,102,725

Main clients

Pension and profit sharing plans (88% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$194,823,102,725	Pension and profit sharing plans (88%)
May 2025 to Mar 2026	$180,614,282,519	Pension and profit sharing plans (89%)
Apr 2025	$125,753,689,525	Pension and profit sharing plans (88%)
Apr 2024 to Mar 2025	$10,243,478,622	Pension and profit sharing plans (84%)
May 2023 to Mar 2024	$6,543,290,721	Pension and profit sharing plans (93%)
Apr 2023	$6,543,290,721	Pension and profit sharing plans (93%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 89.5% of the book (60%+)

Turnover

Low turnover

7.9% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 10.0 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 87.8%; sector active share 61.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

355 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

33.9%

−19.1 pts

Top 5

78.0%

−7.1 pts

Top 10

89.5%

−3.7 pts

HHI

1,764

Moderately concentrated−1,369

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	34.3%	$1,161,310,147	19
Unclassified	27.9%	$945,163,918	151
Utilities	19.4%	$655,918,584	13
Industrials	10.5%	$356,339,314	27
Real Estate	3.7%	$126,146,691	16
Financial Services	2.1%	$72,125,151	41
Technology	0.9%	$29,805,115	27
Healthcare	0.3%	$10,543,841	19
Energy	0.2%	$8,166,550	13
Basic Materials	0.2%	$7,868,702	7
Communication Services	0.2%	$7,389,108	13
Consumer Defensive	0.2%	$6,612,748	9

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PCG	PG&E Corp	+20,118,924	38,625,717	$649,684,559
—		+265,487	313,524	$8,593,692
KORP	American Century Diversified Corporate Bond ETF	+104,392	804,960	$37,712,376
VUG	VANGUARD GROWTH INDEX FUND	+88,874	106,379	$9,163,487
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+42,739	46,672	$3,426,191
IEFA	iShares Core MSCI EAFE ETF	+37,978	257,232	$24,843,466
IUSV	iShares Core S&P U.S. Value ETF	+23,371	94,711	$10,432,416
GMAY	FT Vest U.S. Equity Moderate Buffer ETF - May	+23,288	31,364	$1,349,906
GJUN	FT Vest U.S. Equity Moderate Buffer ETF - June	+21,955	35,913	$1,479,256
PALC	Pacer Lunt Large Cap Multi-Factor Alternator ETF	+20,093	103,651	$6,193,250
FESM	Fidelity Enhanced Small Cap Core ETF	+15,168	78,985	$3,814,185
IUSG	iShares Core S&P U.S. Growth ETF	+13,864	77,899	$14,652,022
IEMG	iShares Trust	+11,806	276,297	$22,888,443
CORO		+6,683	14,220	$520,452
DGRO	iShares Core Dividend Growth ETF	+5,729	163,676	$12,405,004
SCHM	Schwab U.S. Mid-Cap ETF	+5,022	37,702	$1,390,072
GSEP	FT Vest U.S. Equity Moderate Buffer ETF - September	+4,812	17,595	$720,691
YLD	Principal Active High Yield ETF	+4,737	34,453	$657,363
VZ	Verizon Communications Inc	+4,718	32,822	$1,389,683
VIOV	VANGUARD S&P SMALL-CAP 600 VALUE INDEX FUND	+3,843	148,533	$17,427,376
ACWX	iShares MSCI ACWI ex U.S. ETF	+3,638	7,176	$546,165
PYLD		+3,415	24,697	$654,964
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	+3,191	79,492	$19,315,761
XLF	State Street Corp	+3,160	13,202	$707,759
SCHF	Schwab International Equity ETF	+2,888	28,050	$776,985
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	−152,575,350	481,191	$178,059,917
SCHB	Schwab U.S. Broad Market ETF	−66,497,980	2,708,469	$78,437,262
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	−62,372,318	833,026	$41,684,621
—		−60,961,802	561,226	$42,232,256
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	−32,236,365	338,060	$36,872,204
SPY	Spdr S&P 500 ETF Trust	−15,554,239	27,774	$20,740,789
CORP	PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund	−13,886,213	151,820	$14,711,358
VEA	Vanguard FTSE Developed Markets ETF	−11,938,021	198,842	$14,167,492
IDV	iShares International Select Dividend ETF	−8,932,323	213,736	$8,855,082
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	−8,751,927	59,954	$9,474,530
IXUS	iShares Core MSCI Total International Stock ETF	−7,164,450	77,355	$7,382,761
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	−6,308,040	113,746	$6,708,739
VNQ	VANGUARD REAL ESTATE INDEX FUND	−6,011,728	69,532	$6,704,970
FPE	First Trust Preferred Securities and Income ETF	−3,693,416	229,813	$4,109,056
IUSB	iShares Core Universal USD Bond ETF	−3,292,359	100,158	$4,622,291
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	−3,163,318	59,807	$3,569,879
JNK	State Street(R) SPDR(R) Bloomberg High Yield Bond ETF	−2,924,572	32,417	$3,124,026
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	−2,905,204	32,368	$3,121,569
QUAL	iShares MSCI USA Quality Factor ETF	−2,585,813	14,048	$3,082,552
FBND	Fidelity Total Bond ETF	−1,954,749	76,650	$3,486,808
IYR	iShares U.S. Real Estate ETF	−1,712,564	18,073	$1,847,964
AGG	iShares Core U.S. Aggregate Bond ETF	−1,364,596	22,126	$2,190,031
IFGL	iShares International Developed Real Estate ETF	−1,247,264	62,316	$1,389,646
IWV	iShares Russell 3000 ETF	−963,475	2,517	$1,073,248
SHV	iShares 0-1 Year Treasury Bond ETF	−474,862	4,346	$479,581
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
QINT	American Century Quality Diversified International ETF	303,556	$21,075,893
DHDG	FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF	133,557	$4,883,778
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	15,537	$2,979,219
FMAY	FT Vest U.S. Equity Buffer ETF - May	18,732	$1,052,738
FJUN	FT Vest U.S. Equity Buffer ETF - June	17,251	$1,034,197
FAPR	FT Vest U.S. Equity Buffer ETF - April	18,837	$880,441
HUT	Hut 8 Corp.	4,158	$480,020
IWD	iShares Russell 1000 Value ETF	1,827	$442,919
LRCX	Lam Research Corp	915	$396,496
CRWD	CrowdStrike Holdings, Inc.	472	$360,202
XSEP	FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September	6,346	$281,794
ACN	Accenture plc	2,192	$272,772
GEV	GE Vernova Inc.	232	$272,567
IGSB	iShares 1-5 Year Investment Grade Corporate Bond ETF	4,923	$258,014
XOCT	FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October	6,469	$255,538
XNOV	FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November	6,211	$246,123
HONA	Honeywell Aerospace Inc.	1,113	$246,062
APLD	Applied Digital Corp.	6,533	$243,680
XMAR	FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March	5,416	$231,452
VAC	MARRIOTT VACATIONS WORLDWIDE Corp	2,224	$226,581
LLY	ELI LILLY & Co	180	$215,897
XDEC	FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December	5,015	$214,817
FNDX	Schwab Fundamental U.S. Large Company ETF	6,771	$210,578
COHR	Coherent Corp.	528	$208,280
GAUG	FT Vest U.S. Equity Moderate Buffer ETF - August	4,929	$204,159
No positions match the current search.

Sold Out

Positions the filer fully exited

13 positions

Ticker	Company	Shares	Value
FIW	First Trust Water ETF	26,552	$2,738,307
FNOV	FT Vest U.S. Equity Buffer ETF - November	17,463	$932,454
FDEC	FT Vest U.S. Equity Buffer ETF - December	17,995	$894,711
—		80,103	$866,712
FSEP	FT Vest U.S. Equity Buffer ETF - September	16,298	$820,278
FMAR	FT Vest U.S. Equity Buffer ETF - March	16,112	$781,270
—		13,691	$639,780
AES	Aes Corp	27,476	$387,136
NFLX	Netflix Inc	2,695	$259,124
DHR	Danaher Corp	1,294	$245,342
FVD	First Trust Value Line Dividend Index Fund	4,699	$220,993
BABA	Alibaba Group Holding Ltd	1,634	$205,001
PTON	Peloton Interactive, Inc.	11,891	$51,012
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

355 tracked positions · $3,387,389,869 total · filing declares 362 positions · $3,038,740,838 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 355 positions by value · page 1 of 8

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	4,252,478	-73,335	$1,149,487,327	−14.5%	14	$299.08	33.93%
PCG	PG&E Corp Utilities	Added	38,625,717	+20,118,924	$649,684,559	+99.8%	6	$16.71	19.18%
DAL	Delta Air Lines, Inc. Industrials	Reduced	3,637,451	-201,696	$340,683,659	+33.5%	6	$59.28	10.06%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	481,191	-152,575,350	$178,059,917	+9161.2%	14	unpriced	5.26%
CBRE	Cbre Group, Inc. Real Estate	Reduced	880,234	-3,622	$118,558,716	−1.0%	6	$135.89	3.50%
SCHB	Schwab U.S. Broad Market ETF	Reduced	2,708,469	-66,497,980	$78,437,262	+2744.8%	6	unpriced	2.32%
BEN	Franklin Templeton Inc Financial Services	Reduced	1,379,739	-28,399	$45,903,915	+38.0%	6	$20.04	1.36%
		Reduced	561,226	-60,961,802	$42,232,256	+5029.1%	6	unpriced	1.25%
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	Reduced	833,026	-62,372,318	$41,684,621	+3173.2%	6	unpriced	1.23%
KORP	American Century Diversified Corporate Bond ETF	Added	804,960	+104,392	$37,712,376	+15.5%	5	$46.41	1.11%
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Reduced	338,060	-32,236,365	$36,872,204	+155.2%	8	unpriced	1.09%
IEFA	iShares Core MSCI EAFE ETF	Added	257,232	+37,978	$24,843,466	+25.2%	14	unpriced	0.73%
IEMG	iShares Trust	Added	276,297	+11,806	$22,888,443	—	14	unpriced	0.68%
AVUV	Avantis U.S. Small Cap Value ETF	Added	172,874	+669	$21,567,760	+13.4%	8	$92.88	0.64%
VBK	VANGUARD SMALL-CAP GROWTH INDEX FUND	Reduced	57,740	-2,712	$21,115,518	+15.6%	14	unpriced	0.62%
QINT	American Century Quality Diversified International ETF	NEW	303,556	NEW	$21,075,893	NEW	1	$69.30	0.62%
ISCG	iShares Morningstar Small-Cap Growth ETF	Reduced	317,469	-8,076	$20,806,918	+16.6%	14	unpriced	0.61%
SPY	Spdr S&P 500 ETF Trust	Reduced	27,774	-15,554,239	$20,740,789	+5658.4%	14	unpriced	0.61%
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	Added	79,492	+3,191	$19,315,761	+16.5%	14	unpriced	0.57%
AVLV	Avantis U.S. Large Cap Value ETF	Reduced	191,479	-3,112	$17,464,799	+11.3%	8	$65.93	0.52%
VIOV	VANGUARD S&P SMALL-CAP 600 VALUE INDEX FUND	Added	148,533	+3,843	$17,427,376	—	14	unpriced	0.51%
VTV	VANGUARD VALUE INDEX FUND	Added	68,352	+866	$14,895,951	+12.5%	14	unpriced	0.44%
CORP	PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund	Reduced	151,820	-13,886,213	$14,711,358	+10044.3%	6	unpriced	0.43%
IUSG	iShares Core S&P U.S. Growth ETF	Added	77,899	+13,864	$14,652,022	+47.5%	14	unpriced	0.43%
VEA	Vanguard FTSE Developed Markets ETF	Reduced	198,842	-11,938,021	$14,167,492	+1896.4%	7	unpriced	0.42%
DGRO	iShares Core Dividend Growth ETF	Added	163,676	+5,729	$12,405,004	+11.9%	14	unpriced	0.37%
IUSV	iShares Core S&P U.S. Value ETF	Added	94,711	+23,371	$10,432,416	+43.0%	14	unpriced	0.31%
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	Reduced	59,954	-8,751,927	$9,474,530	+2932.4%	14	unpriced	0.28%
RDVY	First Trust Rising Dividend Achievers ETF	Reduced	115,506	-1,963	$9,362,916	+16.7%	14	$55.23	0.28%
VUG	VANGUARD GROWTH INDEX FUND	Added	106,379	+88,874	$9,163,487	+19.8%	14	unpriced	0.27%
IDV	iShares International Select Dividend ETF	Reduced	213,736	-8,932,323	$8,855,082	+4020.6%	6	unpriced	0.26%
SDVY	First Trust SMID Cap Rising Dividend Achievers ETF	Reduced	199,688	-2,346	$8,614,540	+8.1%	11	$30.47	0.25%
		Added	313,524	+265,487	$8,593,692	+559.1%	14	unpriced	0.25%
IXUS	iShares Core MSCI Total International Stock ETF	Reduced	77,355	-7,164,450	$7,382,761	+8732.6%	6	unpriced	0.22%
MTUM	iShares MSCI USA Momentum Factor ETF	Added	20,845	+689	$7,146,291	+47.7%	14	unpriced	0.21%
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	Reduced	113,746	-6,308,040	$6,708,739	+5159.9%	6	unpriced	0.20%
VNQ	VANGUARD REAL ESTATE INDEX FUND	Reduced	69,532	-6,011,728	$6,704,970	+4487.4%	3	unpriced	0.20%
IVV	iShares Core S&P 500 ETF	Added	8,525	+1,677	$6,384,287	+42.7%	14	unpriced	0.19%
PALC	Pacer Lunt Large Cap Multi-Factor Alternator ETF	Added	103,651	+20,093	$6,193,250	+43.1%	14	$45.41	0.18%
ZALT		Reduced	180,326	-771	$6,107,641	+3.9%	6	$30.18	0.18%
SHYG	iShares 0-5 Year High Yield Corporate Bond ETF	Added	129,960	+2,617	$5,511,603	+2.3%	14	unpriced	0.16%
CLF	Cleveland-Cliffs Inc. Basic Materials	Reduced	585,516	-21,763	$5,497,994	+7.1%	6	$10.16	0.16%
SOXX	iShares Semiconductor ETF	Reduced	8,513	-826	$5,454,789	+77.7%	14	unpriced	0.16%
BUFR	FT Vest Laddered Buffer ETF	Reduced	147,346	-2,165	$5,382,549	+6.6%	9	unpriced	0.16%
AAPL	Apple Inc. Technology	Reduced	17,403	-105	$5,035,732	+13.3%	14	$157.52	0.15%
DHDG	FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF	NEW	133,557	NEW	$4,883,778	NEW	1	$35.70	0.14%
BUFQ	FT Vest Laddered Nasdaq Buffer ETF	Reduced	123,612	-1,694	$4,854,243	+9.7%	8	unpriced	0.14%
IUSB	iShares Core Universal USD Bond ETF	Reduced	100,158	-3,292,359	$4,622,291	+359.8%	8	unpriced	0.14%
SGOV	iShares 0-3 Month Treasury Bond ETF	Added	43,620	+2,883	$4,391,225	+7.1%	10	unpriced	0.13%
FPE	First Trust Preferred Securities and Income ETF	Reduced	229,813	-3,693,416	$4,109,056	+1759.1%	6	unpriced	0.12%

Showing the top 50 of 355 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.