Gallagher Fiduciary Advisors, LLC

ROLLING MEADOWS, IL · CIK 1527781 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2008 · limited liability company

Assets managed$194.8bn
Staff235 · 218 in investment roles
Main clients (by assets)Pension plans 88%, State and local governments 4%, Companies 2%
Websiteajg.com
Form ADV · 2026-09-28SEC adviser record

Legal entityGALLAGHER FIDUCIARY ADVISORS, LLC (US)

Kindinstitutions, futures
Others nearbyRolling Meadows, IL, New York, NY, Washington, DC, Framingham, MA, Houston, TX, Richmond, VA

As an employer

Offices in1 country

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Rolling Meadows, IL (main office)United States	United States
New York, NY2 officesUnited States	United States	18
Washington, DCUnited States	United States	17
Framingham, MAUnited States	United States	12
Houston, TXUnited States	United States	11
Richmond, VAUnited States	United States	11
Bellevue, WAUnited States	United States	7
Charlotte, NCUnited States	United States	7
Cleveland, OHUnited States	United States	7
Wakefield, MAUnited States	United States	7
Whippany, NJUnited States	United States	7
Boston, MAUnited States	United States	6

22 more cities

Irvine, CAUnited States	United States	6
Pittsburgh, PAUnited States	United States	5
San Francisco, CAUnited States	United States	5
Berwyn, PAUnited States	United States	4
Jacksonville, FLUnited States	United States	4
Atlanta, GAUnited States	United States	3
Austin, TXUnited States	United States	3
Bloomfield Hill, MIUnited States	United States	3
Bloomington, MNUnited States	United States	3
Madison, WIUnited States	United States	3
Wichita, KSUnited States	United States	3
Baton Rouge, LAUnited States	United States	2
Clearfield, UTUnited States	United States	2
Dallas, TXUnited States	United States	2
E. Hartford, CTUnited States	United States	2
Rockville, MDUnited States	United States	2
Burnsville, MNUnited States	United States	1
Denver, COUnited States	United States	1
Latham, NYUnited States	United States	1
Little Rock, ARUnited States	United States	1
Oklahoma City, OKUnited States	United States	1
Tampa, FLUnited States	United States	1

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$3.0bn reported value +18.0% vs Q1 2026

356positions

76.8%in top 10

30 new 110 added 198 reduced 14 sold out vs Q1 2026

This report includes the holdings of 2 other managers that share the investment decisions:

Arthur J. Gallagher & Co. – reports through this filing
Gallagher Benefit Services, Inc. – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MCDONALDS CORP COM MCD	MCD	4,252,478	$1.1bn37.83%	37.83%	Reduced -73.3k	-73,335 -1.7%
2	DELTA AIR LINES INC DEL COM NEW DAL	DAL	3,637,451	$340.7m11.21%	11.21%	Reduced -201.7k	-201,696 -5.2%
3	PG&E CORP COM PCG	PCG	38,625,717	$300.9m9.90%	9.90%	Added +20.1m	+20,118,924 108.7%
4	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	481,191	$178.1m5.86%	5.86%	Reduced -152.6m	-152,575,350 -99.7%
5	CBRE GROUP INC CL A CBRE	CBRE	880,234	$118.6m3.90%	3.90%	Reduced -3.6k	-3,622 -0.4%
6	SCHWAB STRATEGIC TR US BRD MKT ETF SCHB	SCHB	2,708,469	$78.4m2.58%	2.58%	Reduced -66.5m	-66,497,980 -96.1%
7	FRANKLIN RESOURCES INC COM BEN	BEN	1,379,739	$45.9m1.51%	1.51%	Reduced -28.4k	-28,399 -2.0%
8	VANGUARD SCOTTSDALE FDS LG-TERM COR BD VCLT	VCLT	561,226	$42.2m1.39%	1.39%	Reduced -61.0m	-60,961,802 -99.1%
9	ISHARES TR 10+ YR INVST GRD IGLB	IGLB	833,026	$41.7m1.37%	1.37%	Reduced -62.4m	-62,372,318 -98.7%
10	AMERICAN CENTY ETF TR DIVERSIFID CRP KORP	KORP	804,960	$37.7m1.24%	1.24%	Added +104.4k	+104,392 14.9%
11	ISHARES TR IBOXX INV CP ETF LQD	LQD	338,060	$36.9m1.21%	1.21%	Reduced -32.2m	-32,236,365 -99.0%
12	ISHARES TR CORE MSCI EAFE IEFA	IEFA	257,232	$24.8m0.82%	0.82%	Added +38.0k	+37,978 17.3%
13	ISHARES INC CORE MSCI EMKT IEMG	IEMG	276,297	$22.9m0.75%	0.75%	Added +11.8k	+11,806 4.5%
14	AMERICAN CENTY ETF TR US SML CP VALU AVUV	AVUV	172,874	$21.6m0.71%	0.71%	Added +669	+669 0.4%
15	VANGUARD INDEX FDS SML CP GRW ETF VBK	VBK	57,740	$21.1m0.69%	0.69%	Reduced -2.7k	-2,712 -4.5%
16	AMERICAN CENTY ETF TR QUALITY DIVRSFED QINT	QINT	303,556	$21.1m0.69%	0.69%	New
17	ISHARES TR MRGSTR SM CP GR ISCG	ISCG	317,469	$20.8m0.68%	0.68%	Reduced -8.1k	-8,076 -2.5%
18	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	27,774	$20.7m0.68%	0.68%	Reduced -15.6m	-15,554,239 -99.8%
19	VANGUARD INDEX FDS SM CP VAL ETF VBR	VBR	79,492	$19.3m0.64%	0.64%	Added +3.2k	+3,191 4.2%
20	AMERICAN CENTY ETF TR US LARGE CAP VLU AVLV	AVLV	191,479	$17.5m0.57%	0.57%	Reduced -3.1k	-3,112 -1.6%
21	VANGUARD ADMIRAL FDS INC SMLCP 600 VAL VIOV	VIOV	148,533	$17.4m0.57%	0.57%	Added +3.8k	+3,843 2.7%
22	VANGUARD INDEX FDS VALUE ETF VTV	VTV	68,352	$14.9m0.49%	0.49%	Added +866	+866 1.3%
23	PIMCO ETF TR INV GRD CRP BD CORP	CORP	151,820	$14.7m0.48%	0.48%	Reduced -13.9m	-13,886,213 -98.9%
24	ISHARES TR CORE S&P US GWT IUSG	IUSG	77,899	$14.7m0.48%	0.48%	Added +13.9k	+13,864 21.6%
25	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	198,842	$14.2m0.47%	0.47%	Reduced -11.9m	-11,938,021 -98.4%
26	ISHARES TR CORE DIV GRWTH DGRO	DGRO	163,676	$12.4m0.41%	0.41%	Added +5.7k	+5,729 3.6%
27	ISHARES TR CORE S&P US VLU IUSV	IUSV	94,711	$10.4m0.34%	0.34%	Added +23.4k	+23,371 32.8%
28	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	59,954	$9.5m0.31%	0.31%	Reduced -8.8m	-8,751,927 -99.3%
29	FIRST TR EXCHANGE TRADED FD RISNG DIVD ACHIV RDVY	RDVY	115,506	$9.4m0.31%	0.31%	Reduced -2.0k	-1,963 -1.7%
30	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	106,379	$9.2m0.30%	0.30%	Added +1.3k	+1,349 1.3%
31	ISHARES TR INTL SEL DIV ETF IDV	IDV	213,736	$8.9m0.29%	0.29%	Reduced -8.9m	-8,932,323 -97.7%
32	FIRST TR EXCHANGE-TRADED FD SMID RISNG ETF SDVY	SDVY	199,688	$8.6m0.28%	0.28%	Reduced -2.3k	-2,346 -1.2%
33	ISHARES TR CORE HIGH DV ETF HDV	HDV	313,524	$8.6m0.28%	0.28%	Added +73.3k	+73,339 30.5%
34	ISHARES TR CORE MSCI TOTAL IXUS	IXUS	77,355	$7.4m0.24%	0.24%	Reduced -7.2m	-7,164,450 -98.9%
35	ISHARES TR MSCI USA MMENTM MTUM	MTUM	20,845	$7.1m0.24%	0.24%	Added +689	+689 3.4%
36	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	113,746	$6.7m0.22%	0.22%	Reduced -6.3m	-6,308,040 -98.2%
37	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	69,532	$6.7m0.22%	0.22%	Reduced -6.0m	-6,011,728 -98.9%
38	ISHARES TR CORE S&P500 ETF IVV	IVV	8,525	$6.4m0.21%	0.21%	Added +1.7k	+1,677 24.5%
39	PACER FDS TR LUNT LRGCP MULTI PALC	PALC	103,651	$6.2m0.20%	0.20%	Added +20.1k	+20,093 24.1%
40	INNOVATOR ETFS TRUST U S EQ 10 BUFFER ZALT	ZALT	180,326	$6.1m0.20%	0.20%	Reduced -771	-771 -0.4%
41	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	129,960	$5.5m0.18%	0.18%	Added +2.6k	+2,617 2.1%
42	CLEVELAND-CLIFFS INC NEW COM CLF	CLF	585,516	$5.5m0.18%	0.18%	Reduced -21.8k	-21,763 -3.6%
43	ISHARES TR ISHARES SEMICDTR SOXX	SOXX	8,513	$5.5m0.18%	0.18%	Reduced -826	-826 -8.8%
44	FIRST TR EXCHNG TRADED FD VI FT VEST LADDERED BUFR	BUFR	147,346	$5.4m0.18%	0.18%	Reduced -2.2k	-2,165 -1.4%
45	APPLE INC COM AAPL	AAPL	17,403	$5.0m0.17%	0.17%	Reduced -105	-105 -0.6%
46	FIRST TR EXCHNG TRADED FD VI FT VEST US EQUIT DHDG	DHDG	133,557	$4.9m0.16%	0.16%	New
47	FIRST TR EXCHNG TRADED FD VI FT VEST LADDERED BUFQ	BUFQ	123,612	$4.9m0.16%	0.16%	Reduced -1.7k	-1,694 -1.4%
48	ISHARES TR CORE TOTAL USD IUSB	IUSB	100,158	$4.6m0.15%	0.15%	Reduced -3.3m	-3,292,359 -97.0%
49	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	43,620	$4.4m0.14%	0.14%	Added +2.9k	+2,883 7.1%
50	FIRST TR EXCH TRADED FD III PFD SECS INC ETF FPE	FPE	229,813	$4.1m0.14%	0.14%	Reduced -3.7m	-3,693,416 -94.1%
51	NVIDIA CORPORATION COM NVDA	NVDA	19,303	$3.9m0.13%	0.13%	Reduced -42	-42 -0.2%
52	FIDELITY COVINGTON TRUST ENHANCED SMALL FESM	FESM	78,985	$3.8m0.13%	0.13%	Added +15.2k	+15,168 23.8%
53	MICRON TECHNOLOGY INC COM MU	MU	3,290	$3.8m0.12%	0.12%	Reduced -5	-5 -0.1%
54	INVESCO EXCHANGE TRADED FD T S&P 500 TOP 50 XLG	XLG	59,854	$3.7m0.12%	0.12%	Reduced -541	-541 -0.9%
55	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	59,807	$3.6m0.12%	0.12%	Reduced -3.2m	-3,163,318 -98.1%
56	FIDELITY MERRIMACK STR TR TOTAL BD ETF FBND	FBND	76,650	$3.5m0.11%	0.11%	Reduced -2.0m	-1,954,749 -96.2%
57	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	46,672	$3.4m0.11%	0.11%	Added +42.7k	+42,739 1086.7%
58	ISHARES TR 1 3 YR TREAS BD SHY	SHY	40,232	$3.3m0.11%	0.11%	Added +81	+81 0.2%
59	SPDR SER TR BLOOMBERG HIGH Y JNK	JNK	32,417	$3.1m0.10%	0.10%	Reduced -2.9m	-2,924,572 -98.9%
60	ISHARES TR JPMORGAN USD EMG EMB	EMB	32,368	$3.1m0.10%	0.10%	Reduced -2.9m	-2,905,204 -98.9%
61	ISHARES TR MSCI USA QLT FCT QUAL	QUAL	14,048	$3.1m0.10%	0.10%	Reduced -2.6m	-2,585,813 -99.5%
62	FIRST TR EXCHANGE-TRADED FD NASDQ CLN EDGE GRID	GRID	15,537	$3.0m0.10%	0.10%	New
63	FIRST TR EXCHANGE TRADED FD RBA INDL ETF AIRR	AIRR	21,695	$2.9m0.10%	0.10%	Reduced -623	-623 -2.8%
64	EXXON MOBIL CORP COM XOM	XOM	19,767	$2.7m0.09%	0.09%	Reduced -723	-723 -3.5%
65	3M CO COM MMM	MMM	16,578	$2.7m0.09%	0.09%	Reduced -98	-98 -0.6%
66	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	12,197	$2.3m0.08%	0.08%	Added +644	+644 5.6%
67	JPMORGAN CHASE & CO COM JPM	JPM	6,712	$2.2m0.07%	0.07%	Reduced -10	-10 -0.1%
68	ISHARES TR CORE US AGGBD ET AGG	AGG	22,126	$2.2m0.07%	0.07%	Reduced -1.4m	-1,364,596 -98.4%
69	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	4,216	$2.1m0.07%	0.07%	Reduced -64	-64 -1.5%
70	AMAZON COM INC COM AMZN	AMZN	8,776	$2.1m0.07%	0.07%	Reduced -450	-450 -4.9%
71	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	2,885	$2.0m0.07%	0.07%	Added +265	+265 10.1%
72	FIRST TR EXCHNG TRADED FD VI FT VEST LAD BUFZ	BUFZ	69,777	$1.9m0.06%	0.06%	Reduced -2.3k	-2,315 -3.2%
73	MICROSOFT CORP COM MSFT	MSFT	5,170	$1.9m0.06%	0.06%	Added +138	+138 2.7%
74	ISHARES TR U.S. REAL ES ETF IYR	IYR	18,073	$1.8m0.06%	0.06%	Reduced -1.7m	-1,712,564 -99.0%
75	INNOVATOR ETFS TRUST DEFINED WLT SHLD BALT	BALT	50,526	$1.7m0.06%	0.06%	Unchanged
76	TESLA INC COM TSLA	TSLA	3,813	$1.6m0.05%	0.05%	Reduced -265	-265 -6.5%
77	SANMINA CORPORATION COM SANM	SANM	6,268	$1.6m0.05%	0.05%	Reduced -142	-142 -2.2%
78	AMERICAN CENTY ETF TR US QUALITY GROW QGRO	QGRO	13,061	$1.5m0.05%	0.05%	Added +1.3k	+1,263 10.7%
79	JOHNSON & JOHNSON COM JNJ	JNJ	5,865	$1.5m0.05%	0.05%	Reduced -60	-60 -1.0%
80	FIRST TR EXCHNG TRADED FD VI VEST US EQUITY M JUNM	JUNM	42,434	$1.5m0.05%	0.05%	Added +1.3k	+1,349 3.3%
81	FIRST TR EXCHNG TRADED FD VI FT VEST U.S EQT GJUN	GJUN	35,913	$1.5m0.05%	0.05%	Added +22.0k	+21,955 157.3%
82	ENPRO INC COM NPO	NPO	3,858	$1.5m0.05%	0.05%	Reduced -48	-48 -1.2%
83	XCEL ENERGY INC COM XEL	XEL	17,952	$1.4m0.05%	0.05%	Unchanged
84	SCHWAB STRATEGIC TR US MID-CAP ETF SCHM	SCHM	37,702	$1.4m0.05%	0.05%	Added +5.0k	+5,022 15.4%
85	VERIZON COMMUNICATIONS INC COM VZ	VZ	32,822	$1.4m0.05%	0.05%	Added +4.7k	+4,718 16.8%
86	ISHARES TR INTL DEV RE ETF IFGL	IFGL	62,316	$1.4m0.05%	0.05%	Reduced -1.2m	-1,247,264 -95.2%
87	ABBVIE INC COM ABBV	ABBV	5,508	$1.4m0.05%	0.05%	Reduced -52	-52 -0.9%
88	SPDR SERIES TRUST PORTFOLIO S&P500 SPYM	SPYM	15,623	$1.4m0.05%	0.05%	Added +1.3k	+1,271 8.9%
89	TAYLOR MORRISON HOME CORP COM TMHC	TMHC	18,900	$1.4m0.04%	0.04%	Reduced -435	-435 -2.2%
90	FIRST TR EXCHNG TRADED FD VI FT VEST U.S EQT GMAY	GMAY	31,364	$1.3m0.04%	0.04%	Added +23.3k	+23,288 288.4%
91	PROCTER AND GAMBLE CO COM PG	PG	9,050	$1.3m0.04%	0.04%	Added +254	+254 2.9%
92	ISHARES TR RUS 2000 VAL ETF IWN	IWN	5,903	$1.3m0.04%	0.04%	Added +1.3k	+1,263 27.2%
93	CHEVRON CORP NEW COM CVX	CVX	7,858	$1.3m0.04%	0.04%	Reduced -128	-128 -1.6%
94	INTEL CORP COM INTC	INTC	9,191	$1.3m0.04%	0.04%	Reduced -67	-67 -0.7%
95	CISCO SYS INC COM CSCO	CSCO	10,728	$1.3m0.04%	0.04%	Added +72	+72 0.7%
96	ISHARES TR S&P 500 GRWT ETF IVW	IVW	9,144	$1.3m0.04%	0.04%	Reduced -698	-698 -7.1%
97	ULTRA CLEAN HLDGS INC COM UCTT	UCTT	8,779	$1.3m0.04%	0.04%	Reduced -142	-142 -1.6%
98	VISHAY INTERTECHNOLOGY INC COM VSH	VSH	23,153	$1.2m0.04%	0.04%	Reduced -615	-615 -2.6%
99	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	4,081	$1.2m0.04%	0.04%	Added +284	+284 7.5%
100	COCA COLA CO COM KO	KO	15,091	$1.2m0.04%	0.04%	Reduced -289	-289 -1.9%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
FIRST TR EXCHANGE-TRADED FD FIW	FIW	26,552	$2.7m26.6k shares
FIRST TR EXCHNG TRADED FD VI FNOV	FNOV	17,463	$932.5k17.5k shares
FIRST TR EXCHNG TRADED FD VI FDEC	FDEC	17,995	$894.7k18.0k shares
KENNEDY-WILSON HOLDINGS INC KW	KW	80,103	$866.7k80.1k shares
FIRST TR EXCHNG TRADED FD VI FSEP	FSEP	16,298	$820.3k16.3k shares
FIRST TR EXCHNG TRADED FD VI FMAR	FMAR	16,112	$781.3k16.1k shares
TRI POINTE HOMES INC TPH	TPH	13,691	$639.8k13.7k shares
HONEYWELL INTL INC		1,123	$507.7k1.1k shares
AES CORP AES	AES	27,476	$387.1k27.5k shares
NETFLIX INC NFLX	NFLX	2,695	$259.1k2.7k shares
DANAHER CORPORATION DHR	DHR	1,294	$245.3k1.3k shares
FIRST TR VALUE LINE DIVID IN FVD	FVD	4,699	$221.0k4.7k shares
ALIBABA GROUP HLDG LTD BABA	BABA	1,634	$205.0k1.6k shares
PELOTON INTERACTIVE INC PTON	PTON	11,891	$51.0k11.9k shares