# Academy Capital Management

> 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.

- CRD: 105008
- Filed as: ACADEMY CAPITAL MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Waco, TX
- Filing period: October 2026
- Form ADV filing dated: March 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105008
- AdvisorCensus page: https://advisorcensus.com/firm/academy-capital-management-waco-tx-105008

## Quick answers

**How is Academy Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Academy Capital Management reports these compensation arrangements: a percentage of assets under its management.

**What does Academy Capital Management's brochure say about its fees?**
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.

**Where is Academy Capital Management located?**
Academy Capital Management's principal office is in Waco, TX, according to its Form ADV.

**Is Academy Capital Management registered with the SEC or a state?**
Academy Capital Management is an SEC-registered investment advisory firm, registered since 1987. Status as filed: Approved. CRD 105008.

**How much does Academy Capital Management manage?**
Academy Capital Management reports $1,158,602,375 in regulatory assets under management in its Form ADV filing dated March 10, 2026 (100% discretionary).

**How have Academy Capital Management's assets and staff changed since 2021?**
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.

**What types of clients does Academy Capital Management serve?**
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).

**Which custodians does Academy Capital Management use?**
Academy Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Custodian and Morgan Stanley as custodians holding 10% or more of its separately managed account assets.

**Does Academy 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/105008

**What changed in Academy Capital Management's recent Form ADV filings?**
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%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 10, 2026)

- 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

> ACM’s basic annual fee schedule is as follows:  1.00% of the fair market value of managed assets less than $3 million; plus  0.75% of the fair market value of managed assets $3 million to $5 million; plus  0.50% of the fair market value of managed assets over $5 million.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Custodian
- Morgan Stanley

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: $1,158,602,375
- Discretionary: $1,158,602,375
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 926 | $522,519,725 |
| High net worth individuals | 36 | $590,541,274 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 12 | $27,413,509 |
| Charitable organizations | 11 | $14,338,667 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 11 | $3,789,200 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 1987 (38 years)
- Employees: 9 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, GA, LA, NC, NM, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- academycapitalmgmt.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $715,413,630 | 8 | March 3, 2021 |
| October 2022 | $791,875,957 | 8 | January 28, 2022 |
| October 2023 | $657,208,561 | 9 | February 23, 2023 |
| October 2024 | $896,128,068 | 8 | March 14, 2024 |
| October 2025 | $1,046,676,052 | 9 | March 10, 2025 |
| October 2026 | $1,158,602,375 | 9 | March 10, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- 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%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Academy Capital Management (CRD 105008): Form ADV filing data as of October 2026.