13F
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Gallagher Fiduciary Advisors, LLC

13F equity value
$2.6B
Positions
340
Top 10 concentration
84.9%
Quarters / total new picks
19 / 271
13F equity value over time
$0M$2B$3B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 19 quarters, returned +5.7% per quarter — versus +3.5% per quarter from simply owning every 13F stock. It beat that baseline in only 52.6% of quarters (excess t = 0.82, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+7.9%
t-stat
0.82
Quarterly win rate
53%
Annualized excess
+8.2%
$1 → follow vs universe
$2.48 vs $1.78
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120190331: universe 0.90520190930: universe 0.97320191231: universe 0.78520200331: universe 0.94720200630: universe 1.04620201231: universe 1.09320230331: universe 1.15220230630: universe 1.11120230930: universe 1.26120231231: universe 1.31720240331: universe 1.34720240630: universe 1.46920240930: universe 1.45720241231: universe 1.35920250331: universe 1.48220250630: universe 1.52920250930: universe 1.71920251231: universe 1.778 20180630: follow 1.02820190331: follow 0.86220190930: follow 0.81920191231: follow 0.74320200331: follow 0.95220200630: follow 1.02120201231: follow 0.98320230331: follow 1.02320230630: follow 1.02320230930: follow 1.19920231231: follow 1.24520240331: follow 1.71820240630: follow 1.86520240930: follow 1.75920241231: follow 1.57620250331: follow 1.73920250630: follow 1.88920250930: follow 2.26220251231: follow 2.476 0.68 1.68 2.67 201820192020202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 340 · 2026 Q1

Ticker Value Weight QoQ
MCD $1.3B
52.2%
TRIM
PCG $325M
12.6%
TRIM
DAL $255M
9.9%
TRIM
CBRE $120M
4.7%
HOLD
BEN $33M
1.3%
HOLD
KORP $33M
1.3%
ADD
IEFA $20M
0.8%
ADD
AVUV $19M
0.7%
TRIM
IEMG $18M
0.7%
TRIM
VBK $18M
0.7%
ADD
ISCG $18M
0.7%
ADD
VBR $17M
0.6%
TRIM
AVLV $16M
0.6%
ADD
VIOV $15M
0.6%
TRIM
LQD $14M
0.6%
ADD
VTV $13M
0.5%
ADD
DGRO $11M
0.4%
ADD
IUSG $10M
0.4%
ADD
RDVY $8M
0.3%
HOLD
SDVY $8M
0.3%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ACWXBGBXCCDECGSDDRIECHOEFGFFEBFJANFMARHLNTLAPBFPRAXPTONQTSMTTMIVSATXLP

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.