# Excalibur Management Corp

> Excalibur Management Corp is an SEC-registered investment advisory firm in Waltham, MA, registered since 1991, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 21, 2026.

- CRD: 110836
- Filed as: EXCALIBUR MANAGEMENT CORP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Waltham, MA
- Filing period: October 2026
- Form ADV filing dated: September 21, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110836
- AdvisorCensus page: https://advisorcensus.com/firm/excalibur-management-corp-waltham-ma-110836

## Quick answers

**How is Excalibur Management Corp compensated?**
On its Form ADV (Item 5.E, October 2026), Excalibur Management Corp reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**What does Excalibur Management Corp's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 26, 2026 states: Asset-based fee: up to 1% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Excalibur Management Corp located?**
Excalibur Management Corp's principal office is in Waltham, MA, according to its Form ADV.

**Is Excalibur Management Corp registered with the SEC or a state?**
Excalibur Management Corp is an SEC-registered investment advisory firm, registered since 1991. Status as filed: Approved. CRD 110836.

**How much does Excalibur Management Corp manage?**
Excalibur Management Corp reports $712,076,143 in regulatory assets under management in its Form ADV filing dated September 21, 2026 (99% discretionary).

**How have Excalibur Management Corp's assets and staff changed since 2021?**
In the Form ADV data for Excalibur Management Corp: Regulatory assets under management: $518,995,248 in the October 2021 data and $712,076,143 in the October 2026 data, up 37%. Total employees: 9 in October 2021 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Excalibur Management Corp serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (176); high net worth individuals (131).

**Which custodians does Excalibur Management Corp use?**
Excalibur Management Corp's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and FNZ Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Excalibur Management Corp 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/110836

**Does Excalibur Management Corp state an account minimum?**
Its Form ADV Part 2A brochure dated March 26, 2026 says: "We require a minimum net worth of $1,000,000 for investment advisory services and financial planning services. Waivers or exceptions from the minimum may be granted at our discretion."

**What changed in Excalibur Management Corp's recent Form ADV filings?**
In the April 2026 filing data: Registered or notice-filed in WA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 26, 2026)

- Asset-based fee: up to 1% of assets a year (the maximum the brochure states)

> Our fees for investment management and advisory services range up to 1.0% (100 basis points) annually of account market value, including cash, as determined by the custodian, billed quarterly in arrears.

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> We require a minimum net worth of $1,000,000 for investment advisory services and financial planning services. Waivers or exceptions from the minimum may be granted at our discretion.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- FNZ Trust Company

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: $712,076,143
- Discretionary: $707,341,597
- Non-discretionary: $4,734,546

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 176 | $105,617,354 |
| High net worth individuals | 131 | $553,116,837 |
| 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) | Fewer than 5 | $2,913,910 |
| Charitable organizations | Fewer than 5 | $16,704,560 |
| 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 | Fewer than 5 | $33,723,482 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1991 (35 years)
- Employees: 12 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CT, FL, IL, LA, MA, ME, NC, NH, NJ, NY, OH, RI, TX, VA, VT, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $518,995,248 | 9 | March 19, 2021 |
| October 2022 | $571,985,553 | 9 | August 25, 2022 |
| October 2023 | $540,958,908 | 11 | July 13, 2023 |
| October 2024 | $606,399,680 | 11 | August 23, 2024 |
| October 2025 | $657,022,630 | 12 | March 24, 2025 |
| October 2026 | $712,076,143 | 12 | September 21, 2026 |

Regulatory assets under management: $518,995,248 in the October 2021 data and $712,076,143 in the October 2026 data, up 37%.
Total employees: 9 in October 2021 and 12 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Registered or notice-filed in WA.

### January 2026
- Registered or notice-filed in TX.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Excalibur Management Corp (CRD 110836): Form ADV filing data as of October 2026.