Gallagher Fiduciary Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Gallagher Fiduciary Advisors, LLC reported 325 stock positions worth $3.1 billion. Its top holding was McDonald's (MCD) at 43.8% of the portfolio, followed by P G & E (PCG, 10.1%) and Delta Air Lines (DAL, 9.1%). Compared with Q3 2025, it opened 24 new positions, sold out of 5, added to 224 and reduced 60. The biggest buy was VG Morningstar TS MKT ETF-US (VTI, shares +4539%) and the biggest sale McDonald's (MCD, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- ROLLING MEADOWS, IL
- CIK
- 0001527781
- Portfolio Value
- $3.1B (Q4 2025)
- SEC Filing
- 0001527781-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 325 stocks · $3.1B
| MCD McDonald's Corp. | 43.82% | 4,426,061 | $1.4B | Reduce -3.3% |
| PCG P G & E Corp. | 10.11% | 19,426,614 | $312.2M | Reduce -3.1% |
| DAL Delta Air Lines Inc. | 9.08% | 4,041,390 | $280.5M | Reduce -6.0% |
| VTI VG Morningstar TS MKT ETF-US | 5.23% | 481,663 | $161.5M | Add +4538.5% |
| CBRE CBRE Group Inc. Class A | 4.66% | 894,599 | $143.8M | Reduce -2.2% |
| SCHB Schwab US Broad Market ETF | 2.23% | 2,626,353 | $68.9M | Add +153.5% |
| VCLT Vanguard Long-Term Corp. Bond | 2.08% | 845,731 | $64.1M | Add +164.1% |
| IGLB iShares 10+ Year Inv GR Corp. | 2.07% | 1,264,405 | $63.8M | Add +169.6% |
| BEN Franklin Templeton Inc. | 1.10% | 1,424,072 | $34.0M | Reduce -0.3% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 1.03% | 288,382 | $31.8M | Reduce -16.8% |
| KORP American Century Diversified | 0.97% | 634,224 | $30.0M | Add +7.1% |
| AVUV Avantis US Small Cap Value | 0.64% | 192,925 | $19.7M | Add +1.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.60% | 206,046 | $18.4M | Add +4.7% |
| IEMG iShares Core MSCI Emerging | 0.59% | 271,827 | $18.3M | Add +3.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.58% | 84,951 | $18.0M | Reduce -1.5% |
| VBK Van Morst SML-Cap Gro-Usd Inc. | 0.56% | 56,956 | $17.2M | Add +2.1% |
| ISCG iShares Morningstar Small-Ca | 0.55% | 307,111 | $17.0M | Add +1.9% |
| VIOV Vanguard S&P Small-Cap 600 V | 0.54% | 171,421 | $16.8M | Reduce -0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.47% | 21,349 | $14.6M | Add +1906.5% |
| CORP PIMCO Inv Grade Corp. BD ETF | 0.46% | 145,021 | $14.2M | Add +17.2% |
| AVLV Avantis US Large Cap Value | 0.43% | 173,727 | $13.2M | Add +3.7% |
| VEA Vanguard Ftse Developed ETF | 0.42% | 208,692 | $13.0M | Add +2312.6% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.37% | 60,442 | $11.5M | Reduce -2.4% |
| DGRO iShares Core Dividend Growth | 0.32% | 141,488 | $9.8M | Add +0.2% |
| IUSG iShares Core S&P U.S. Growth | 0.31% | 57,685 | $9.7M | Add +5.5% |
| IDV iShares International Select | 0.29% | 226,411 | $8.9M | Add +78.8% |
| CLF Cleveland-Cliffs Inc. | 0.29% | 664,766 | $8.8M | Reduce -2.9% |
| VYM Vanguard High DVD Yield ETF | 0.29% | 61,497 | $8.8M | Add +154.2% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.27% | 17,282 | $8.4M | Reduce -5.0% |
| RDVY First Trust Rising Dividend | 0.27% | 118,867 | $8.3M | Reduce -0.3% |
| SDVY First Trust Smid Cap Rising | 0.25% | 204,794 | $7.8M | Reduce -1.3% |
| VGIT Vanguard Intermediate-Term T | 0.21% | 108,532 | $6.5M | Add +17.7% |
| IUSV iShares Core S&P U.S. Value | 0.21% | 62,323 | $6.4M | Add +6.5% |
| VNQ Vanguard Real Estate ETF | 0.20% | 70,696 | $6.3M | New |
| IXUS iShares Core Intl Stock ETF | 0.19% | 70,518 | $6.0M | Reduce -57.2% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.18% | 131,855 | $5.7M | Add +62.9% |
| ZALT Innovator US Eq 10 Buffer | 0.18% | 171,607 | $5.6M | Reduce -11.3% |
| HDV iShares Core High Dividend E | 0.17% | 43,534 | $5.3M | Add +6.9% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.16% | 146,415 | $5.0M | Reduce -17.6% |
| AAPL Apple Inc. | 0.16% | 17,731 | $4.8M | Add +0.2% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 0.14% | 94,475 | $4.4M | Add +360.6% |
| BUFQ FT VST Lad NSDQ Buf ETF-Usdi | 0.14% | 121,597 | $4.4M | Add +38.8% |
| IVV iShares Core S&P 500 ETF | 0.14% | 6,355 | $4.4M | Add +1.0% |
| SGOV iShares 0-3 Month Treasury B | 0.13% | 39,405 | $4.0M | Add +96.7% |
| MTUM iShares MSCI USA Momentum Fa | 0.13% | 15,754 | $3.9M | Add +13.9% |
| FPE FT-Preferred Secur & Inc. ETF | 0.13% | 215,131 | $3.9M | Add +284.4% |
| NVDA Nvidia Corp. | 0.12% | 19,828 | $3.7M | Add +3.5% |
| XLG Invesco S&P 500 Top 50 ETF | 0.11% | 58,705 | $3.5M | Reduce -8.4% |
| SHY iShares 1-3 Year Treasury Bo | 0.11% | 40,948 | $3.4M | Add +57.8% |
| VWO Vanguard Ftse Emerging Marke | 0.11% | 62,073 | $3.3M | New |
| BND Vanguard Total Bond Market | 0.11% | 44,657 | $3.3M | Reduce -74.0% |
| QUAL iShares MSCI USA Quality Fac | 0.11% | 16,377 | $3.3M | Add +192.1% |
| PALC Pacer Lunt LRG Cap Multi-Fac | 0.11% | 62,212 | $3.2M | Add +10.2% |
| SOXX iShares Semiconductor ETF | 0.10% | 10,318 | $3.1M | Reduce -20.7% |
| EMB iShares JP Morgan Usd Emergi | 0.09% | 30,386 | $2.9M | New |
| JNK SS SPDR BB High Yield Bond | 0.09% | 29,801 | $2.9M | New |
| FIW First Trust Water ETF | 0.09% | 25,144 | $2.7M | Add +24.9% |
| MMM 3M Co. | 0.09% | 16,604 | $2.7M | Reduce -5.4% |
| FBND Fidelity Total Bond ETF | 0.09% | 57,123 | $2.6M | Add +9.0% |
| XOM Exxon Mobil Corp. | 0.08% | 20,856 | $2.5M | Add +2.4% |
| AIRR First Trust Rba American Ind | 0.08% | 24,375 | $2.4M | New |
| MSFT Microsoft Corp. | 0.07% | 4,777 | $2.3M | Add +2.4% |
| AMZN Amazon.com Inc. | 0.07% | 9,488 | $2.2M | Add +0.6% |
| JPM JPMorgan Chase & Co. | 0.07% | 6,792 | $2.2M | Add +3.5% |
| FESM Fidelity Enhanced Small Cap | 0.07% | 57,711 | $2.2M | Add +8.1% |
| BUFZ FT Vest Laddered Moderate Bu | 0.06% | 72,213 | $1.9M | Add +0.5% |
| AGG iShares Core U.S. Aggregate | 0.06% | 19,029 | $1.9M | Reduce -1.0% |
| TSLA Tesla Inc. | 0.06% | 4,049 | $1.8M | Reduce -0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.06% | 3,535 | $1.8M | Add +15.4% |
| IYR iShares US Real Estate ETF | 0.06% | 18,302 | $1.7M | New |
| VOO Vanguard S&P 500 ETF | 0.05% | 2,624 | $1.6M | Add +5.4% |
| BALT Inn Defined Wealth Shield | 0.05% | 46,800 | $1.6M | Reduce -2.1% |
| SANM Sanmina Corp. | 0.05% | 9,617 | $1.4M | Add +7.0% |
| FOCT FT Vest U.S. Equity Buffer E | 0.05% | 28,559 | $1.4M | Add +228.6% |
| JUNM FT Vest US Eq Max Buf June | 0.04% | 39,834 | $1.4M | Add +0.5% |
| XEL Xcel Energy Inc. | 0.04% | 17,945 | $1.3M | Add +0.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.04% | 4,387 | $1.3M | Add +4.1% |
| IFGL iShares International Develo | 0.04% | 55,673 | $1.3M | New |
| CVX Chevron Corp. | 0.04% | 8,375 | $1.3M | Add +3.0% |
| XLK SS Technology Select Sector | 0.04% | 8,830 | $1.3M | Add +15.2% |
| ABBV Abbvie Inc. | 0.04% | 5,504 | $1.3M | Add +3.5% |
| PG The Procter & Gamble Co. | 0.04% | 8,715 | $1.2M | Add +1.7% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.04% | 20,287 | $1.2M | Add +2.5% |
| IWN iShares Russell 2000 Value E | 0.04% | 6,790 | $1.2M | Reduce -11.4% |
| TMHC Taylor Morrison Home Corp. | 0.04% | 20,734 | $1.2M | Add +7.8% |
| JNJ Johnson & Johnson | 0.04% | 5,889 | $1.2M | Reduce -0.3% |
| WELL Welltower Inc. | 0.04% | 6,540 | $1.2M | Add +3.9% |
| CMC Commercial Metals Co. | 0.04% | 17,220 | $1.2M | Add +7.4% |
| IVW iShares S&P 500 Growth ETF | 0.04% | 9,460 | $1.2M | Add +2.0% |
| QGRO American Century US Quality | 0.04% | 10,157 | $1.2M | Add +43.1% |
| KO The Coca-Cola Co. | 0.04% | 16,231 | $1.1M | Add +4.2% |
| WMT Walmart Inc. | 0.04% | 10,099 | $1.1M | Add +1.7% |
| VZ Verizon Communications Inc. | 0.04% | 26,813 | $1.1M | Add +3.2% |
| IVE iShares S&P 500 Value ETF | 0.03% | 5,010 | $1.1M | Add +24.9% |
| KRG Kite Realty Group Trust | 0.03% | 43,974 | $1.1M | Add +9.1% |
| FNOV FT Vest US Equity Buffer ETF | 0.03% | 18,688 | $1.0M | New |
| IWV iShares Russell 3000 ETF | 0.03% | 2,606 | $1.0M | New |
| META Meta Platforms Inc. Class A | 0.03% | 1,506 | $994K | Add +7.2% |
| FDEC FT Vest U.S. Equity Buffer E | 0.03% | 19,347 | $990K | Add +34.4% |
| EFV iShares MSCI Eafe Value ETF | 0.03% | 13,720 | $980K | Reduce -7.5% |
Portfolio Sells Q3 2025 → Q4 2025
| MCD McDonald's Corp. | Reduce -3.3% | 43.82% | −7.26 |
| PCG P G & E Corp. | Reduce -3.1% | 10.11% | −1.00 |
| CBRE CBRE Group Inc. Class A | Reduce -2.2% | 4.66% | −0.64 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -16.8% | 1.03% | −0.39 |
| BND Vanguard Total Bond Market | Reduce -74.0% | 0.11% | −0.36 |
| IXUS iShares Core Intl Stock ETF | Reduce -57.2% | 0.19% | −0.31 |
| BEN Franklin Templeton Inc. | Reduce -0.3% | 1.10% | −0.11 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -1.5% | 0.58% | −0.08 |
| VIOV Vanguard S&P Small-Cap 600 V | Reduce -0.3% | 0.54% | −0.06 |
| BUFR FT Vest Lad Buffervetf-Usd I | Reduce -17.6% | 0.16% | −0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -2.4% | 0.37% | −0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -5.0% | 0.27% | −0.05 |
| ZALT Innovator US Eq 10 Buffer | Reduce -11.3% | 0.18% | −0.05 |
| SDVY First Trust Smid Cap Rising | Reduce -1.3% | 0.25% | −0.04 |
| SOXX iShares Semiconductor ETF | Reduce -20.7% | 0.10% | −0.03 |
| RDVY First Trust Rising Dividend | Reduce -0.3% | 0.27% | −0.03 |
| FFEB FT Vest US Equity Buffer ETF | Sold out | 0.00% | −0.02 |
| GSEP FT Vest US Equity Moderate B | Reduce -53.8% | 0.02% | −0.02 |
| XLG Invesco S&P 500 Top 50 ETF | Reduce -8.4% | 0.11% | −0.02 |
| FJAN FT Vest U.S. Equity Buffer E | Sold out | 0.00% | −0.02 |
| VRNT Verint Systems Inc. | Sold out | 0.00% | −0.02 |
| CLF Cleveland-Cliffs Inc. | Reduce -2.9% | 0.29% | −0.02 |
| MMM 3M Co. | Reduce -5.4% | 0.09% | −0.01 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.01 |
| IWN iShares Russell 2000 Value E | Reduce -11.4% | 0.04% | −0.01 |
| AGG iShares Core U.S. Aggregate | Reduce -1.0% | 0.06% | −0.01 |
| R Ryder System Inc. | Sold out | 0.00% | −0.01 |
| TSLA Tesla Inc. | Reduce -0.2% | 0.06% | −0.01 |
| BDN Brandywine Realty Trust | Reduce -0.3% | 0.01% | −0.01 |
| BALT Inn Defined Wealth Shield | Reduce -2.1% | 0.05% | −0.01 |
| AGIO Agios Pharmaceuticals Inc. | Reduce -0.1% | 0.01% | −0.01 |
| EFV iShares MSCI Eafe Value ETF | Reduce -7.5% | 0.03% | −0.01 |
| FNF Fidelity National Financial | Reduce -6.6% | 0.01% | −0.00 |
| PFE Pfizer Inc. | Reduce -0.8% | 0.03% | −0.00 |
| MTN Vail Resorts Inc. | Reduce -5.9% | 0.01% | −0.00 |
| UNH Unitedhealth Group Inc. | Reduce -6.4% | 0.01% | −0.00 |
| LIN Linde PLC | Reduce -8.3% | 0.01% | −0.00 |
| CUZ Cousins Properties Inc. | Reduce -5.0% | 0.01% | −0.00 |
| SJM The JM Smucker Co. | Reduce -4.2% | 0.01% | −0.00 |
| CI The Cigna Group | Reduce -9.6% | 0.01% | −0.00 |
| PLD Prologis Inc. | Reduce -11.9% | 0.02% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Reduce -2.1% | 0.02% | −0.00 |
| OMC Omnicom Group | Reduce -2.1% | 0.01% | −0.00 |
| OKE Oneok Inc. | Reduce -4.4% | 0.01% | −0.00 |
| IWO iShares Russell 2000 Growth | Reduce -2.5% | 0.01% | −0.00 |
| SON Sonoco Products Co. | Reduce -6.1% | 0.01% | −0.00 |
| ADC Agree Realty Corp. | Reduce -3.2% | 0.01% | −0.00 |
| GMAR FT Vest US Equity Moderate B | Reduce -0.7% | 0.02% | −0.00 |
| SHEL Shell PLC-ADR | Reduce -2.4% | 0.01% | −0.00 |
| PEP Pepsico Inc. | Reduce -0.7% | 0.02% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| VTI VG Morningstar TS MKT ETF-US | Add +4538.5% | 5.23% | +5.11 |
| SCHB Schwab US Broad Market ETF | Add +153.5% | 2.23% | +1.25 |
| IGLB iShares 10+ Year Inv GR Corp. | Add +169.6% | 2.07% | +1.18 |
| VCLT Vanguard Long-Term Corp. Bond | Add +164.1% | 2.08% | +1.16 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1906.5% | 0.47% | +0.45 |
| VEA Vanguard Ftse Developed ETF | Add +2312.6% | 0.42% | +0.40 |
| VNQ Vanguard Real Estate ETF | New | 0.20% | +0.20 |
| VYM Vanguard High DVD Yield ETF | Add +154.2% | 0.29% | +0.16 |
| IDV iShares International Select | Add +78.8% | 0.29% | +0.12 |
| VWO Vanguard Ftse Emerging Marke | New | 0.11% | +0.11 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +360.6% | 0.14% | +0.11 |
| EMB iShares JP Morgan Usd Emergi | New | 0.09% | +0.09 |
| JNK SS SPDR BB High Yield Bond | New | 0.09% | +0.09 |
| FPE FT-Preferred Secur & Inc. ETF | Add +284.4% | 0.13% | +0.09 |
| AIRR First Trust Rba American Ind | New | 0.08% | +0.08 |
| QUAL iShares MSCI USA Quality Fac | Add +192.1% | 0.11% | +0.07 |
| IYR iShares US Real Estate ETF | New | 0.06% | +0.06 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +62.9% | 0.18% | +0.05 |
| SGOV iShares 0-3 Month Treasury B | Add +96.7% | 0.13% | +0.05 |
| IFGL iShares International Develo | New | 0.04% | +0.04 |
| FNOV FT Vest US Equity Buffer ETF | New | 0.03% | +0.03 |
| IWV iShares Russell 3000 ETF | New | 0.03% | +0.03 |
| SHY iShares 1-3 Year Treasury Bo | Add +57.8% | 0.11% | +0.03 |
| GDEC FT Vest US Equity Moderate B | New | 0.03% | +0.03 |
| FOCT FT Vest U.S. Equity Buffer E | Add +228.6% | 0.05% | +0.03 |
| BUFQ FT VST Lad NSDQ Buf ETF-Usdi | Add +38.8% | 0.14% | +0.03 |
| FTMN FR Minnesota Muni Inc. ETF | New | 0.03% | +0.03 |
| MU Micron Technology Inc. | Add +6.5% | 0.03% | +0.01 |
| CORP PIMCO Inv Grade Corp. BD ETF | Add +17.2% | 0.46% | +0.01 |
| EUSA iShares MSCI USA Equal Weigh | New | 0.01% | +0.01 |
| IWD iShares Russell 1000 Value E | New | 0.01% | +0.01 |
| SANM Sanmina Corp. | Add +7.0% | 0.05% | +0.01 |
| GNOV FT Vest US Equity Moderate B | Add +123.8% | 0.02% | +0.01 |
| ARCC Ares Capital Corp. | New | 0.01% | +0.01 |
| XLV SS Health Care Select Sector | New | 0.01% | +0.01 |
| QGRO American Century US Quality | Add +43.1% | 0.04% | +0.01 |
| OCTM FT Vest US Eq Max Buf Oct | New | 0.01% | +0.01 |
| DECM FT Vest US Eq Max Buf Dec | New | 0.01% | +0.01 |
| IAU iShares Gold Trust | New | 0.01% | +0.01 |
| XLY SS Consumer Disc Select Sect | New | 0.01% | +0.01 |
| VGIT Vanguard Intermediate-Term T | Add +17.7% | 0.21% | +0.01 |
| AVGO Broadcom Inc. | New | 0.01% | +0.01 |
| NOVM FT Vest US Eq Max Buf Nov | Add +93.9% | 0.02% | +0.01 |
| FCX Freeport-McMoran Inc. | New | 0.01% | +0.01 |
| AEO American Eagle Outfitters | Add +8.8% | 0.02% | +0.01 |
| DE Deere & Co. | New | 0.01% | +0.01 |
| HAL Halliburton Co. | New | 0.01% | +0.01 |
| XLI SS Industrial Select Sector | New | 0.01% | +0.01 |
| AVDE Avantis International Equity | Add +42.0% | 0.03% | +0.01 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +38.0% | 0.03% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 356 | $3.0B | MCD, DAL, PCG, VTI, CBRE |
| Q1 2026 | 340 | $2.6B | MCD, PCG, DAL, CBRE, BEN |
| Q4 2025 | 325 | $3.1B | MCD, PCG, DAL, VTI, CBRE |
| Q3 2025 | 306 | $2.7B | MCD, PCG, DAL, CBRE, LQD |
| Q2 2025 | 327 | $2.6B | MCD, PCG, DAL, CBRE, KORP |
| Q1 2025 | 303 | $3.0B | MCD, PCG, DAL, VTI, CBRE |
| Q4 2024 | 298 | $510.9M | LQD, SHYG, IEFA, IEMG, IUSG |
| Q3 2024 | 274 | $493.8M | LQD, SHYG, IEMG, IEFA, VBR |
| Q2 2024 | 256 | $446.2M | SHYG, IUSV, VBR, VIOV, IGSB |
| Q1 2024 | 201 | $2.8B | MCD, PCG, DAL, CBRE, BEN |