# Galliard Capital Management

> Galliard Capital Management is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 1995, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 20, 2026.

- CRD: 106487
- Filed as: GALLIARD CAPITAL MANAGEMENT
- Legal name: Galliard Capital Management, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minneapolis, MN
- Filing period: October 2026
- Form ADV filing dated: March 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106487
- AdvisorCensus page: https://advisorcensus.com/firm/galliard-capital-management-minneapolis-mn-106487

## Quick answers

**How is Galliard Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Galliard Capital Management reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**Where is Galliard Capital Management located?**
Galliard Capital Management's principal office is in Minneapolis, MN, according to its Form ADV.

**Is Galliard Capital Management registered with the SEC or a state?**
Galliard Capital Management is an SEC-registered investment advisory firm, registered since 1995. Status as filed: Approved. CRD 106487.

**How much does Galliard Capital Management manage?**
Galliard Capital Management reports $80,266,203,713 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (99% discretionary).

**How have Galliard Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Galliard Capital Management: Regulatory assets under management: $95,412,020,999 in the October 2021 data and $80,266,203,713 in the October 2026 data, down 16%. Total employees: 104 in October 2021 and 89 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Galliard Capital Management serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (104); state or municipal government entities (including government pension plans) (47); charitable organizations (15).

**Which custodians does Galliard Capital Management use?**
Galliard Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Bank of New York Mellon, N.A. as a custodian holding 10% or more of its separately managed account assets.

**Does Galliard Capital Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106487

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- The Bank of New York Mellon, N.A.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $80,266,203,713
- Discretionary: $79,185,709,306
- Non-discretionary: $1,080,494,407

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 2 | $602,415,437 |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $13,545,690,915 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 104 | $34,084,949,179 |
| Charitable organizations | 15 | $3,033,209,924 |
| State or municipal government entities (including government pension plans) | 47 | $26,539,780,344 |
| Insurance companies | 4 | $756,981,984 |
| Corporations or other businesses not listed above | 2 | $284,802,772 |
| Other | 10 | $1,418,373,158 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1995 (31 years)
- Employees: 89 total, 20 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- allspringglobal.com
- galliard.com
- LinkedIn @galliard-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $95,412,020,999 | 104 | September 27, 2021 |
| October 2022 | $92,080,456,900 | 79 | May 27, 2022 |
| October 2023 | $91,977,426,165 | 79 | September 29, 2023 |
| October 2024 | $85,511,782,543 | 102 | September 9, 2024 |
| October 2025 | $80,355,332,268 | 94 | July 2, 2025 |
| October 2026 | $80,266,203,713 | 89 | March 20, 2026 |

Regulatory assets under management: $95,412,020,999 in the October 2021 data and $80,266,203,713 in the October 2026 data, down 16%.
Total employees: 104 in October 2021 and 89 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Galliard Capital Management (CRD 106487): Form ADV filing data as of October 2026.