{
  "crd_number": 105008,
  "slug": "academy-capital-management-waco-tx-105008",
  "primary_business_name": "ACADEMY CAPITAL MANAGEMENT",
  "legal_name": "ACADEMY CAPITAL MANAGEMENT",
  "dbas": [],
  "city": "Waco",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "47380",
  "metro": {
    "cbsa_code": "47380",
    "common_name": "Waco",
    "msa_name": "Waco, TX",
    "path": "/advisors/tx/waco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1987-11-16",
  "years_registered": 38,
  "period": "2026-10-01",
  "filing_date": "2026-03-10",
  "carried_forward": false,
  "raum_total": 1158602375.0,
  "raum_discretionary": 1158602375.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 9,
  "advisory_employees": 5,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 14338667.0,
      "count": 11
    },
    "individuals": {
      "raum": 522519725.0,
      "count": 926
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 27413509.0,
      "count": 12
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 590541274.0,
      "count": 36
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 3789200.0,
      "count": 11
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CO",
    "FL",
    "GA",
    "LA",
    "NC",
    "NM",
    "PA",
    "TX"
  ],
  "websites": [
    "https://academycapitalmgmt.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/105008",
  "city_as_filed": "WACO",
  "url": "https://advisorcensus.com/firm/academy-capital-management-waco-tx-105008",
  "display_name": "Academy Capital Management",
  "summary": "Academy Capital Management is an SEC-registered investment advisory firm in Waco, TX, registered since 1987, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 10, 2026.",
  "citation": "AdvisorCensus. Academy Capital Management (CRD 105008): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Academy Capital Management compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Academy Capital Management reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "How much does Academy Capital Management charge?",
      "a": "Its Form ADV Part 2A brochure dated March 10, 2026 states: Up to $2,999,999.99: 1% a year; $3,000,000 to $5,000,000: 0.75% a year; Above $5,000,000.01: 0.5% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Academy Capital Management located?",
      "a": "Academy Capital Management's principal office is in Waco, TX, according to its Form ADV."
    },
    {
      "q": "Is Academy Capital Management registered with the SEC or a state?",
      "a": "Academy Capital Management is an SEC-registered investment advisory firm, registered since 1987. Status as filed: Approved. CRD 105008."
    },
    {
      "q": "How much does Academy Capital Management manage?",
      "a": "Academy Capital Management reports $1,158,602,375 in regulatory assets under management in its Form ADV filing dated March 10, 2026 (100% discretionary)."
    },
    {
      "q": "How have Academy Capital Management's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Academy Capital Management: Regulatory assets under management: $715,413,630 in the October 2021 data and $1,158,602,375 in the October 2026 data, up 62%. Total employees: 8 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Academy Capital Management serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (926); high net worth individuals (36); pension and profit sharing plans (but not the plan participants or government pension plans) (12)."
    },
    {
      "q": "Which custodians does Academy Capital Management use?",
      "a": "Academy Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab and Morgan Stanley as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Academy Capital Management report any disciplinary disclosures?",
      "a": "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/105008"
    },
    {
      "q": "What changed in Academy Capital Management's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 4 to 5. Regulatory assets under management went from $1,046,676,052 to $1,158,602,375 (+11%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 715413630.0,
      "total_employees": 8,
      "filing_date": "2021-03-03"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 791875957.0,
      "total_employees": 8,
      "filing_date": "2022-01-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 657208561.0,
      "total_employees": 9,
      "filing_date": "2023-02-23"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 896128068.0,
      "total_employees": 8,
      "filing_date": "2024-03-14"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1046676052.0,
      "total_employees": 9,
      "filing_date": "2025-03-10"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1158602375.0,
      "total_employees": 9,
      "filing_date": "2026-03-10"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 4 to 5.",
        "Regulatory assets under management went from $1,046,676,052 to $1,158,602,375 (+11%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 10, 2026",
    "provided_by_the_firm": false,
    "tiers": [
      {
        "band": "Up to $2,999,999.99",
        "rate": "1%"
      },
      {
        "band": "$3,000,000 to $5,000,000",
        "rate": "0.75%"
      },
      {
        "band": "Above $5,000,000.01",
        "rate": "0.5%"
      }
    ],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Fee schedule",
        "statements": [
          "Up to $2,999,999.99: 1% a year",
          "$3,000,000 to $5,000,000: 0.75% a year",
          "Above $5,000,000.01: 0.5% a year"
        ],
        "quotes": [
          "ACM’s basic annual fee schedule is as follows: \n 1.00% of the fair market value of managed assets less than $3 million; plus \n 0.75% of the fair market value of managed assets $3 million to $5 million; plus \n 0.50% of the fair market value of managed assets over $5 million."
        ]
      }
    ],
    "values": {
      "tiers": [
        {
          "min": 0.0,
          "max": 2999999.99,
          "rate_pct": 1.0
        },
        {
          "min": 3000000.0,
          "max": 5000000.0,
          "rate_pct": 0.75
        },
        {
          "min": 5000000.01,
          "max": null,
          "rate_pct": 0.5
        }
      ],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "ACM’s basic annual fee schedule is as follows: \n 1.00% of the fair market value of managed assets less than $3 million; plus \n 0.75% of the fair market value of managed assets $3 million to $5 million; plus \n 0.50% of the fair market value of managed assets over $5 million."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab",
      "name_as_filed": "CUSTODIAN",
      "affiliated": false
    },
    {
      "name": "Morgan Stanley",
      "name_as_filed": "MORGAN STANLEY",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/academy-capital-management-waco-tx-105008.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 926,
      "fewer_than_5": false,
      "raum": 522519725.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 36,
      "fewer_than_5": false,
      "raum": 590541274.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 12,
      "fewer_than_5": false,
      "raum": 27413509.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 11,
      "fewer_than_5": false,
      "raum": 14338667.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 11,
      "fewer_than_5": false,
      "raum": 3789200.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/105008",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}