Hallador Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and selecting other managers. The firm advises 6 private funds.
Hallador Investment Advisors reports 16 clients. They include 8 high-net-worth individuals, 7 pooled investment vehicles and 1 individual client. Of its assets, 100.0% ($271M across 14 accounts) are managed with discretion. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 6% | <1% |
| High-net-worth individuals | 50% | 3% |
| Pooled investment vehicles | 44% | 97% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1 | $7.12K | 0.0% | $7.12K |
| High-net-worth individuals | 8 | $7.29M | 2.7% | $912K |
| Pooled investment vehicles | 7 | $263M | 97.3% | $37.6M |
| Total | 16 | $271M | 100% | $16.9M |
- Clients
- 1
- Regulatory AUM
- $7.12K
- AUM share
- 0.0%
- Avg. per client
- $7.12K
- Clients
- 8
- Regulatory AUM
- $7.29M
- AUM share
- 2.7%
- Avg. per client
- $912K
- Clients
- 7
- Regulatory AUM
- $263M
- AUM share
- 97.3%
- Avg. per client
- $37.6M
Total
- Clients
- 16
- Regulatory AUM
- $271M
- AUM share
- 100%
- Avg. per client
- $16.9M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 6
Hallador Investment Advisors is paid through a percentage of assets under management, performance-based fees and other compensation; its fees and minimums are set out in its brochures on the SEC website.
David Hardie owns 75% or more of Hallador Investment Advisors. The leadership team of Hallador Investment Advisors includes President Kevin Leary and Chief Financial Officer Aileen Hourigan. It has 9 employees, 4 of them in advisory roles.
Leadership
- Kevin LearyPresident and CEO
- Aileen HouriganChief Financial Officer/Chief Compliance Officer
- David HardieExecutive Chairman of the Board
Staff
- 9 employees
- 4 in advisory functions
- 1 state-registered rep
- Owns 75% or more of Hallador Investment Advisors, Inc.
David Hardie
Control person · since May 2004
Hallador Investment Advisors’ regulatory assets went from $282M (March 2021) to $271M (September 2026); clients fell from 26 to 16 and employees rose from 8 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $271M | 16 | 9 | 3 |
| March 2025 | $315M | 14 | 9 | 3 |
| March 2024 | $307M | 26 | 10 | 2 |
| March 2023 | $296M | 33 | 8 | 2 |
| March 2022 | $354M | 28 | 7 | 2 |
| March 2021 | $282M | 26 | 8 | 2 |
Besides its headquarters, Hallador Investment Advisors has 2 offices, with 3 listed addresses in Connecticut, Nevada and Texas.
Connecticut · 1 listed address
- 55 Post Road West, Westport
Nevada · 1 listed address
- 5485 Kietzke Lane, RenoHQ
Texas · 1 listed address
- 10711 Preston RD, Dallas
Contact and registration details
- Legal name
- Hallador Investment Advisors, Inc.
- Headquarters
- 5485 Kietzke Lane, Reno, NV 89511
- Website
- hallador.com
- Phone
- 775-548-1730
- @hallador
- SEC file
- 801-67056
- Structure
- Delaware corporation
- Fiscal year end
- December
Hallador Investment Advisors uses Fidelity ($7.3M) as custodian for its separately managed accounts. Hallador Investment Advisors has custody of $3.51M in client assets for 3 clients.
- FidelityNational Financial Services LLC · San Francisco, CA · $7.3M100%
At year end, Hallador Investment Advisors’ separately managed accounts were largely in stocks (37%) and cash (35%).
What the accounts hold
- Stocks37%
- Funds28%
- Registered funds25%
- Pooled vehicles3%
- Cash35%
How many clients does Hallador Investment Advisors have?
Hallador Investment Advisors has 16 clients and manages $271 million for them, as of September 2026. They include 8 high-net-worth individuals, 7 pooled investment vehicles and 1 individual client.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 4 September 2026
What services does Hallador Investment Advisors offer?
Hallador Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Hallador Investment Advisors use?
Hallador Investment Advisors’ separately managed account assets are held at National Financial Services LLC (San Francisco, CA), with $7.3M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 4 September 2026
How many financial advisors does Hallador Investment Advisors have?
Hallador Investment Advisors has 1 investment adviser representative registered with state securities authorities, out of 9 employees, and 4 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Hallador Investment Advisors invest in?
At the end of its last fiscal year, Hallador Investment Advisors’ separately managed accounts held 37% exchange-traded equities, 35% cash and equivalents, 25% registered funds (mutual funds, ETFs, BDCs) and 3% pooled vehicles (private funds and similar). It advises 6 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Hallador Investment Advisors?
Hallador Investment Advisors’ direct owner is David Hardie (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 4 September 2026
How does Hallador Investment Advisors get paid?
Hallador Investment Advisors is paid through a percentage of assets under management, performance-based fees and other compensation. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Hallador Investment Advisors?
Hallador Investment Advisors’ main office is at 5485 Kietzke Lane, Reno, NV 89511. Its phone number is 775-548-1730. Its website is hallador.com.