AJG

Arthur J. Gallagher & Co.

Ticker: AJGFinancialsInsuranceS&P 500
HQ ROLLING MEADOWS, ILCIK 354190FY end 12-31Book / share $91.27Shares 260M
Revenue (FY)
$13.94B+20.66%
TTM $15.75B
Op. margin
13.42%-2.81%
TTM 12.59%
Net income
$1.50B+2.22%
TTM $1.57B
Operating cash
$1.93B-25.28%
TTM $2.45B
Free cash flow
$1.78B-26.87%
TTM $2.29B
Return on equity
6.41%-0.85%
TTM 6.62%
Debt / equity
0.55-0.10%
TTM 0.57
Shares outstanding
260.3M+15.66%
TTM 259.9M

The business

Arthur J. Gallagher & Co. (NYSE: AJG) operates as the world's third largest insurance broker and risk manager based on revenues. Founded in 1927, the company has evolved from a single-person insurance agency into a comprehensive global provider of insurance brokerage, reinsurance brokerage, consulting, and third-party property and casualty claims settlement and administration services. The company maintains its website at http://investor.ajg.com.

Gallagher operates through three reportable segments: brokerage, risk management, and corporate. The brokerage segment accounts for approximately 87% of revenues and operates through more than 650 sales and service offices in the United States and approximately 400 offices across 60 countries, primarily in Australia, Canada, New Zealand, and the United Kingdom. The risk management segment contributes 13% of revenues and manages third-party claims adjusting operations through more than 40 offices globally. The company generates approximately 67% of revenues domestically and 33% internationally.

Within its brokerage operations, Gallagher provides retail insurance brokerage services covering nearly all commercial property and casualty and health and welfare insurance lines. The company operates specialized niche and practice groups targeting specific industries including aviation, construction, energy, healthcare, financial institutions, and technology. The company also maintains global reinsurance brokerage operations, wholesale insurance brokerage operations, and captive underwriting enterprises. Its risk management segment primarily serves Fortune 1000 companies, larger middle-market companies, nonprofit organizations, and public sector entities, with approximately 95% of revenues derived from clients unaffiliated with its brokerage operations.

As of December 31, 2025, Gallagher employed approximately 72,000 people, with 47% based in the United States and 53% internationally. The company has completed approximately 780 acquisitions since 2002, ranging from small regional brokerages to larger strategic acquisitions. The company's client base is highly diversified, with no single client representing more than 1% of combined brokerage and risk management segment revenues. Gallagher's competitive advantages include its specialized expertise within niche markets, data analytics capabilities, technology platforms, and ability to deliver comprehensive solutions across the insurance value chain.

Sector
Financials
Industry
Insurance
HQ
ROLLING MEADOWS, IL
FY end
12-31
CIK
354190
SIC
6411
Financial performance · annual
20132025
$-1.58B$3.15B$7.88B$12.60B$17.33B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Arthur J. Gallagher & Co. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

776
funds hold it
1 of 35
superinvestors hold it
$25.30B
fund-held value
44.4%
of shares held by funds
14
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.08%$1.87B
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.09%$1.53B
Dodge & Cox Stock Fund
DODGX · Dodge & Cox Funds
1.18%$1.39B
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.57%$1.28B
Fidelity Contrafund
FCNTX
0.63%$1.14B

Superinvestors in Arthur J. Gallagher & Co.

Glenn GreenbergNEW
Brave Warrior Advisors
6.4%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 14 issues of Arthur J. Gallagher & Co.'s debt, $1.63B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 5.08%, maturing 20272055.

IssueCouponMaturesFundsFund-held
ARTHUR J GALLAGHER & CO 5.150000% 02/15/20355.150%2035-02-15108$308.71M
Arthur J Gallagher & Co4.600%2027-12-1588$289.22M
Arthur J Gallagher & Co4.850%2029-12-15116$238.56M
Arthur J. Gallagher & Co.5.000%2032-02-1587$166.07M
ARTHUR J GALLAGHER & CO 5.550000% 02/15/20555.550%2055-02-1583$153.16M
Arthur J Gallagher & Co.6.500%2034-02-1554$116.21M
AJG 5.45 07/15/345.450%2034-07-1554$83.79M
Arthur J Gallagher & Co3.500%2051-05-2048$55.06M
Arthur J Gallagher & Co.5.500%2033-03-0230$43.67M
ARTHUR J GALLAGHER & CO 6.750000% 02/15/20546.750%2054-02-1541$42.60M

The 10 largest by fund-held value, of 14.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Go deeper in your own AI

15 years of statements, narrative and filings — queryable over MCP.

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15 years of Arthur J. Gallagher & Co.'s financials

Income statement, balance sheet and cash flow across 15 years, every filing with its disclosures, and each number traceable to the filing it came from — free with an account, no card required.

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