DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Galliard Capital Management

Institutional managerMinneapolis, MinnesotaCRD 106487SEC 801-49780websiteIAPD
Legal name Galliard Capital Management, LLC
Latest filing Mar 20, 2026
First filing on the tape Feb 27, 2012 · 62 filings
SEC status approved since Aug 10, 1995
RAUM
$80B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
89
20 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
62 filings and snapshots on the tape
RAUM$80B as of Mar 20, 2026
Mar 29, 2012$73B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 20, 2026
Mar 27, 20130 then
Employees (5.A)89 as of Mar 20, 2026
Mar 27, 201397 then
Private funds3 as of Mar 20, 2026
Mar 25, 20243 then
RAUM -0.1% over the last fiscal year-4.4% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 20, 2026; every figure names its basis
Archetypes, each a printed rule
  • Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
  • OCIO / institutional advisory · selection of other advisers (5.G.7) and institutional share at least 50 percent
  • PE backed · a Schedule A entity owner at 25 percent or more whose exact legal name is a PE fund vehicle or a classified PE sponsor on the DFX private equity graph
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$304MderivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
80%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
-0.1%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companies, selection of other advisersreportedItem 5.G
Custody
$430M, 5 clientsreportedItem 9.A
Ownership
a PE fund or sponsor is a 25 percent or greater owner on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pension and profit-sharing plans$34B43%
  • State and municipal entities$27B34%
  • Pooled investment vehicles$14B17%
  • Charitable organizations$3.0B3.8%
  • Insurance companies$757M1.0%
  • Investment companies$602M0.8%
  • Corporations and businesses$285M0.4%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
104reported
Charitable clients
15reported
Accounts
264reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$430M for 5 clientsreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=0.0 fund_share=0.18 institutional_share=0.8 related_bd=true related_bank=true bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      Galliard Intermediate Aggregate Fund, LLCOther Private Fund$00Sep 29, 2023
      Galliard Short Core Fund, LLCOther Private Fund$00Sep 29, 2023
      Galliard Broad Market Core Fund, LLCOther Private Fund$00Sep 29, 2023
      Owners and control persons
      Schedule A and B, latest filing
      • Werner Paul Felsch · Chief Compliance Officercontrol
        since 02/2023 · owns less than 5%
      • (Nmn) Ajay Mirza · Senior Managing Principalcontrol
        since 01/2020 · owns less than 5%
      • David Michael Norman · President And Senior Managing Principalcontrol
        since 10/2022 · owns less than 5%
      • Clements Sallie Squire · Chief Operations Officercontrol
        since 02/2023 · owns less than 5%
      • Janecka Annette Lege · Managercontrol
        since 08/2024 · owns F of Allspring Global Investments Holdings, LLC
      • Clements Sallie Squire · Managercontrol
        since 11/2021 · owns F of Allspring Global Investments Holdings, LLC
      • Andrew Joseph Sullivan · Managercontrol
        since 11/2021 · owns F of Allspring Global Investments Holdings, LLC
      Entity owners
      • Allspring Global Investments Holdings, LLC · Direct Parent Company
        direct · owns 75% or more
      • Allspring Buyer, LLC · Shareholder
        indirect · owns 75% or more of Allspring Global Investments Holdings, LLC
      • Allspring Group Holdings, LLC · Shareholder
        indirect · owns 75% or more of Allspring Intermediate I, LLC
      • Allspring Intermediate I, LLC · Shareholder
        indirect · owns 75% or more of Allspring Intermediate II, LLC
      • Allspring Intermediate II, LLC · Shareholder
        indirect · owns 75% or more of Allspring Buyer, LLC
      • Gtcr Fund Xiii/B LP · Shareholder
        indirect · owns 25% to 50% of Allspring Group Holdings, LLC
      • Gtcr Investment Xiii LLC · General Partner
        indirect · owns F of Gtcr Partners Xiii/B LP
      • Gtcr Partners Xiii/B LP · General Partner
        indirect · owns F of Gtcr Fund Xiii/B LP
      Related persons
      Schedule D 7.A
      Advisers that list Galliard Capital Management as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 267 to 264
        Jul 2, 2025 to Mar 20, 2026
      • Charity clients · 17 to 15
        Jul 2, 2025 to Mar 20, 2026
      • Pension plan clients · 103 to 104
        Jul 2, 2025 to Mar 20, 2026
      • Pooled vehicle clients · 6 to 4
        Jul 2, 2025 to Mar 20, 2026
      • Assets in custody · $114M to $430M
        Jul 2, 2025 to Mar 20, 2026
      • Employees · 94 to 89
        Jul 2, 2025 to Mar 20, 2026
      • Discretionary RAUM · $80B to $79B
        Jul 2, 2025 to Mar 20, 2026
      • Non-discretionary RAUM · $810M to $1.1B
        Jul 2, 2025 to Mar 20, 2026
      • Pension RAUM · $34B to $34B
        Jul 2, 2025 to Mar 20, 2026
      • Pooled vehicle RAUM · $15B to $14B
        Jul 2, 2025 to Mar 20, 2026
      • RAUM · $80B to $80B
        Jul 2, 2025 to Mar 20, 2026
      • Financial planning clients · unset to
        Mar 25, 2025 to Jul 2, 2025
      • Accounts · 279 to 267
        Jan 22, 2025 to Mar 25, 2025
      • Charity clients · 19 to 17
        Jan 22, 2025 to Mar 25, 2025
      • Pension plan clients · 105 to 103
        Jan 22, 2025 to Mar 25, 2025
      • Pooled vehicle clients · 8 to 6
        Jan 22, 2025 to Mar 25, 2025
      • Assets in custody · $0 to $114M
        Jan 22, 2025 to Mar 25, 2025
      • Employees · 102 to 94
        Jan 22, 2025 to Mar 25, 2025
      • Discretionary RAUM · $85B to $80B
        Jan 22, 2025 to Mar 25, 2025
      • Non-discretionary RAUM · $644M to $810M
        Jan 22, 2025 to Mar 25, 2025
      • Pension RAUM · $38B to $34B
        Jan 22, 2025 to Mar 25, 2025
      • Pooled vehicle RAUM · $17B to $15B
        Jan 22, 2025 to Mar 25, 2025
      • RAUM · $86B to $80B
        Jan 22, 2025 to Mar 25, 2025
      • Accounts · 282 to 279
        Sep 29, 2023 to Mar 25, 2024
      • Advisory employees · 22 to 20
        Sep 29, 2023 to Mar 25, 2024
      • Charity clients · 21 to 19
        Sep 29, 2023 to Mar 25, 2024
      • Pension plan clients · 106 to 105
        Sep 29, 2023 to Mar 25, 2024
      • Pooled vehicle clients · 10 to 8
        Sep 29, 2023 to Mar 25, 2024
      • Assets in custody · unset to 0.0
        Sep 29, 2023 to Mar 25, 2024
      • Custody of client assets · false to true
        Sep 29, 2023 to Mar 25, 2024
      • Employees · 79 to 102
        Sep 29, 2023 to Mar 25, 2024
      • Discretionary RAUM · $91B to $85B
        Sep 29, 2023 to Mar 25, 2024
      • Non-discretionary RAUM · $641M to $644M
        Sep 29, 2023 to Mar 25, 2024
      • Pension RAUM · $44B to $38B
        Sep 29, 2023 to Mar 25, 2024
      • Pooled vehicle RAUM · $20B to $17B
        Sep 29, 2023 to Mar 25, 2024
      • RAUM · $92B to $86B
        Sep 29, 2023 to Mar 25, 2024
      • Private funds · unset to 3
        Mar 1, 2023 to Sep 29, 2023
      • Related broker-dealer · false to true
        Mar 1, 2023 to Sep 29, 2023
      • Accounts · 293 to 282
        Oct 28, 2022 to Mar 1, 2023
      • Advisory employees · 23 to 22
        Oct 28, 2022 to Mar 1, 2023
      Signals
      21 dated events
      • Festa Molly Mcmillin (Manager) no longer on Schedule A of Galliard Capital Management (listed 2024-03-27, absent 2024-09-09)
        Sep 9, 2024 · Control person left · inference
      • Janecka Annette Lege (Manager) appeared on Schedule A of Galliard Capital Management
        Sep 9, 2024 · Control person joined · fact
      • Paul Brian Renelt (Chief Compliance Officer) no longer on Schedule A of Galliard Capital Management (listed 2022-10-28, absent 2023-03-01)
        Mar 1, 2023 · Control person left · inference
      • Werner Paul Felsch (Chief Compliance Officer) appeared on Schedule A of Galliard Capital Management
        Mar 1, 2023 · Control person joined · fact
      • Nelson Andrew Owen (Co-President And Senior Managing Principal) no longer on Schedule A of Galliard Capital Management (listed 2022-05-27, absent 2022-10-28)
        Oct 28, 2022 · Control person left · inference
      • Ralph Milton Berlinski (Managing Member) no longer on Schedule A of Galliard Capital Management (listed 2022-03-30, absent 2022-05-27)
        May 27, 2022 · Control person left · inference
      • Festa Molly Mcmillin (Manager) appeared on Schedule A of Galliard Capital Management
        Mar 30, 2022 · Control person joined · fact
      • Clements Sallie Squire (Manager) appeared on Schedule A of Galliard Capital Management
        Mar 30, 2022 · Control person joined · fact
      • Andrew Joseph Sullivan (Manager) appeared on Schedule A of Galliard Capital Management
        Mar 30, 2022 · Control person joined · fact
      • Ralph Milton Berlinski (Managing Member) appeared on Schedule A of Galliard Capital Management
        Mar 30, 2022 · Control person joined · fact
      • Ravineran Peter Arulanantham (Manager) no longer on Schedule A of Galliard Capital Management (listed 2021-11-29, absent 2022-03-30)
        Mar 30, 2022 · Control person left · inference
      • Galliard Capital Management Inc reported succeeding to the business of Another Adviser (Form ADV Item 4)
        Sep 27, 2021 · Succession (Item 4) · fact
      • Paul Brian Renelt (Chief Compliance Officer) appeared on Schedule A of Galliard Capital Management
        Jan 31, 2020 · Control person joined · fact
      • Ravineran Peter Arulanantham (Director) appeared on Schedule A of Galliard Capital Management
        Jan 31, 2020 · Control person joined · fact
      • Michael Chad Foote (Chief Operating Officer) no longer on Schedule A of Galliard Capital Management (listed 2019-11-01, absent 2020-01-31)
        Jan 31, 2020 · Control person left · inference
      • Davis Jennifer Lammers (Chief Compliance Officer) no longer on Schedule A of Galliard Capital Management (listed 2019-11-01, absent 2020-01-31)
        Jan 31, 2020 · Control person left · inference
      • Joseph Leela Scattum (Partner) no longer on Schedule A of Galliard Capital Management (listed 2019-11-01, absent 2020-01-31)
        Jan 31, 2020 · Control person left · inference
      • (Nmn) Sesidhar Kodali (Director) no longer on Schedule A of Galliard Capital Management (listed 2019-11-01, absent 2020-01-31)
        Jan 31, 2020 · Control person left · inference
      • Joseph Richard Merriam (Founding Managing Partner And Treasurer) no longer on Schedule A of Galliard Capital Management (listed 2019-04-29, absent 2019-11-01)
        Nov 1, 2019 · Control person left · inference
      • Patrick Karl Tourville (President And Founding Managing Partner) no longer on Schedule A of Galliard Capital Management (listed 2019-04-29, absent 2019-11-01)
        Nov 1, 2019 · Control person left · inference
      • Ann Carrie Callahan (Managing Partner) no longer on Schedule A of Galliard Capital Management (listed 2019-04-29, absent 2019-11-01)
        Nov 1, 2019 · Control person left · inference
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/galliard-capital-managementreportedpublic record, Form ADV, Sep 17, 2026
      Website
      allspringglobal.comreportedpublic record, Form ADV, Sep 17, 2026
      Principal office phone
      612-667-3220reportedpublic record, Form ADV, Mar 20, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Institutional managerderiveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026