Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. as of Dec. 31, 2012

Portfolio Holdings for Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. holds 0 positions in its portfolio as reported in the December 2012 quarterly 13F filing

                December 31, 2012


                                                      FORM 13F INFORMATION TABLE

                                                                                               Voting Authority
                                                                                               ----------------
                                Title
                                 of                Value    Shares/    Sh/ Put/  Investment  Other
      Name of Issuer            Class    CUSIP    (x$1000)  Prn Amt    Prn Call  Discretion  Managers Sole    Shared    None
      --------------            -----    -----    -------- -------    --- ----  ----------- -------- ----    ------    ----
{S}                                     {C}       {C}       {C}        {C}       {C}                  {C}      {C}       {C}
Clear Channel Outdoor
   Holdings                    CL A     18451C109     1,760    244,613  SH       DEFINED     1, 2                          244,613
General Motors Company        W EXP
                            7/10/2019   37045V126    32,117  2,576,233  SH       DEFINED     1, 2     N/A      N/A         N/A
Franklin Resources Inc.       COM       354613101   103,650    824,579  SH       DEFINED     1, 2              824,579
Kaiser Aluminum Corporation   COM       483007704     8,712    141,221  SH       DEFINED     1, 2  141,221
PPG Industries Inc.           COM       693506107   244,213  1,804,305  SH       DEFINED     1, 2            1,804,305
USEC Inc.                     COM       90333E108     1,186  2,182,585  SH       DEFINED     1, 2                        2,182,585


REPORT SUMMARY         6    DATA RECORDS     $391,638        ALL OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED - 2