Excalibur Management Corp.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), Excalibur Management Corp. reported 166 stock positions worth $254.1 million. Its top holding was Carlisle Cos (CSL) at 10.0% of the portfolio, followed by Apple (AAPL, 5.6%) and Berkshire Hathaway Class B (BRK.B, 4.7%). Compared with Q4 2024, it opened 4 new positions, sold out of 3, added to 47 and reduced 90. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +3%) and the biggest sale Carlisle Cos (CSL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- WALTHAM, MA
- CIK
- 0001009003
- Portfolio Value
- $254.1M (Q1 2025)
- SEC Filing
- 0001085146-25-002765 ↗ filed May 8, 2025
Holdings Value
Holdings 166 stocks · $254.1M
| CSL Carlisle Cos Inc. | 9.97% | 74,411 | $25.3M | Reduce -0.8% |
| AAPL Apple Inc. | 5.56% | 63,577 | $14.1M | Add +16.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.69% | 22,367 | $11.9M | Add +3.5% |
| MSFT Microsoft Corp. | 3.97% | 26,904 | $10.1M | Reduce -0.5% |
| JPM JPMorgan Chase & Co. | 3.42% | 35,396 | $8.7M | Reduce -0.7% |
| JNJ Johnson & Johnson | 2.53% | 38,788 | $6.4M | Reduce -0.5% |
| META Meta Platforms Inc. Class A | 1.93% | 8,511 | $4.9M | Reduce -3.9% |
| V Visa Inc. Class A | 1.80% | 13,067 | $4.6M | Reduce -0.5% |
| VZ Verizon Communications Inc. | 1.79% | 100,254 | $4.5M | Add +0.5% |
| MRK Merck & Co. Inc. | 1.78% | 50,427 | $4.5M | Add +0.8% |
| T AT&T Inc. | 1.69% | 152,131 | $4.3M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 1.68% | 25,094 | $4.3M | Reduce -2.6% |
| PFE Pfizer Inc. | 1.51% | 151,279 | $3.8M | Reduce -1.5% |
| RSP Invesco S&P 500 Equal Weight | 1.50% | 22,014 | $3.8M | Add +14.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.35% | 13,839 | $3.4M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 1.25% | 26,770 | $3.2M | Reduce -0.7% |
| NFLX Netflix Inc. | 1.24% | 3,379 | $3.2M | Reduce -8.8% |
| CVX Chevron Corp. | 1.19% | 18,095 | $3.0M | Reduce -0.6% |
| ABBV Abbvie Inc. | 1.13% | 13,736 | $2.9M | Reduce -0.1% |
| GOOGL Alphabet Inc. Class A | 1.12% | 18,462 | $2.9M | Add +0.9% |
| CVS CVS Health Corp. | 1.12% | 41,990 | $2.8M | Add +0.3% |
| CSCO Cisco Systems Inc. | 1.07% | 44,225 | $2.7M | Add +0.9% |
| AMZN Amazon.com Inc. | 1.06% | 14,133 | $2.7M | Reduce -1.1% |
| GILD Gilead Sciences Inc. | 1.01% | 22,901 | $2.6M | Reduce -1.5% |
| PEP Pepsico Inc. | 0.97% | 16,498 | $2.5M | Add +1.8% |
| GS Goldman Sachs Group Inc. | 0.95% | 4,415 | $2.4M | Reduce -0.9% |
| KO The Coca-Cola Co. | 0.87% | 30,734 | $2.2M | Add +4.5% |
| KMI Kinder Morgan Inc. | 0.86% | 76,164 | $2.2M | Reduce -0.8% |
| SPGI S&P Global Inc. | 0.82% | 4,081 | $2.1M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.79% | 48,175 | $2.0M | Add +1.4% |
| FDX FedEx Corp. | 0.79% | 8,217 | $2.0M | Reduce -0.2% |
| AMGN Amgen Inc. | 0.79% | 6,407 | $2.0M | No change |
| BMY Bristol-Myers Squibb Co. | 0.79% | 32,722 | $2.0M | Add +0.8% |
| GLD SPDR Gold Shares | 0.78% | 6,887 | $2.0M | Add +3.6% |
| AXP American Express Co. | 0.76% | 7,210 | $1.9M | Reduce -2.0% |
| NVDA Nvidia Corp. | 0.75% | 17,549 | $1.9M | Reduce -5.3% |
| RTX RTX Corp. | 0.75% | 14,358 | $1.9M | Reduce -0.7% |
| ABT Abbott Laboratories | 0.72% | 13,780 | $1.8M | Reduce -1.4% |
| HD Home Depot Inc. | 0.72% | 4,986 | $1.8M | Add +1.1% |
| WPC WP Carey Inc. | 0.68% | 27,551 | $1.7M | Add +0.0% |
| PM Philip Morris International | 0.65% | 10,422 | $1.7M | Reduce -1.6% |
| SHEL Shell PLC-ADR | 0.64% | 22,356 | $1.6M | Reduce -0.1% |
| MA Mastercard Inc. Class A | 0.59% | 2,731 | $1.5M | Reduce -0.9% |
| DUK Duke Energy Corp. | 0.59% | 12,241 | $1.5M | Reduce -0.9% |
| ED Consolidated Edison Inc. | 0.58% | 13,429 | $1.5M | Reduce -0.9% |
| IVV iShares Core S&P 500 ETF | 0.58% | 2,621 | $1.5M | Add +0.0% |
| MS Morgan Stanley | 0.58% | 12,527 | $1.5M | Reduce -1.9% |
| MMM 3M Co. | 0.57% | 9,926 | $1.5M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 0.57% | 1,533 | $1.5M | Add +0.1% |
| INDB Independent Bank Corp. | 0.56% | 22,850 | $1.4M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.56% | 2,545 | $1.4M | Reduce -0.7% |
| PNW Pinnacle West Capital | 0.54% | 14,453 | $1.4M | Reduce -0.2% |
| UPS United Parcel Service Class B | 0.53% | 12,211 | $1.3M | Add +3.2% |
| WFC Wells Fargo & Co. | 0.52% | 18,546 | $1.3M | Reduce -4.4% |
| LMT Lockheed Martin Corp. | 0.52% | 2,955 | $1.3M | Add +2.4% |
| ETN Eaton Corp. PLC | 0.50% | 4,708 | $1.3M | Reduce -3.4% |
| INTC Intel Corp. | 0.49% | 54,874 | $1.2M | Reduce -5.8% |
| AVGO Broadcom Inc. | 0.48% | 7,358 | $1.2M | Reduce -0.7% |
| SYK Stryker Corp. | 0.48% | 3,282 | $1.2M | Reduce -0.3% |
| ORCL Oracle Corp. | 0.48% | 8,710 | $1.2M | Reduce -1.7% |
| LLY Eli Lilly & Co. | 0.48% | 1,468 | $1.2M | Add +0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.47% | 9,837 | $1.2M | Reduce -3.0% |
| QCOM Qualcomm Inc. | 0.45% | 7,475 | $1.1M | Reduce -2.9% |
| UNP Union Pacific Corp. | 0.44% | 4,752 | $1.1M | Reduce -0.7% |
| MO Altria Group Inc. | 0.43% | 18,412 | $1.1M | Reduce -7.5% |
| DE Deere & Co. | 0.42% | 2,291 | $1.1M | Reduce -1.0% |
| C Citigroup Inc. | 0.42% | 14,959 | $1.1M | Reduce -1.4% |
| WMT Walmart Inc. | 0.40% | 11,708 | $1.0M | Reduce -1.0% |
| IWM iShares Russell 2000 ETF | 0.40% | 5,146 | $1.0M | Add +3.4% |
| HON Honeywell International Inc. | 0.40% | 4,814 | $1.0M | Add +0.6% |
| SBUX Starbucks Corp. | 0.39% | 10,211 | $1.0M | Reduce -0.1% |
| GIS General Mills Inc. | 0.38% | 16,214 | $969K | Reduce -3.0% |
| MCK McKesson Corp. | 0.37% | 1,397 | $940K | Reduce -0.5% |
| KMB Kimberly-Clark Corp. | 0.36% | 6,470 | $920K | Reduce -0.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.36% | 9,283 | $916K | Add +2.9% |
| SO The Southern Co. | 0.36% | 9,825 | $903K | Reduce -0.3% |
| BX Blackstone Inc. | 0.34% | 6,158 | $861K | Reduce -3.1% |
| CARR Carrier Global Corp. | 0.33% | 13,266 | $841K | No change |
| D Dominion Energy Inc. | 0.32% | 14,652 | $822K | Reduce -1.4% |
| UL Unilever PLC | 0.32% | 13,741 | $818K | Add +0.1% |
| AVB Avalonbay Communities Inc. | 0.32% | 3,773 | $810K | Reduce -2.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.31% | 1 | $798K | Reduce -50.0% |
| TT Trane Technologies PLC | 0.31% | 2,317 | $781K | Reduce -4.8% |
| GE General Electric filed as GE AEROSPACE | 0.29% | 3,666 | $734K | Reduce -0.3% |
| PULS Pgim Ultra Short Bond ETF | 0.28% | 14,113 | $702K | Add +26.1% |
| TGT Target Corp. | 0.27% | 6,661 | $695K | Reduce -2.1% |
| NSC Norfolk Southern Corp. | 0.27% | 2,912 | $690K | Reduce -4.4% |
| NEE Nextera Energy Inc. | 0.26% | 9,197 | $652K | Add +1.7% |
| CAT Caterpillar Inc. | 0.26% | 1,966 | $648K | Add +2.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.25% | 1,365 | $640K | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.25% | 4,086 | $638K | Add +44.0% |
| PNC PNC Financial Services Group | 0.23% | 3,378 | $594K | Reduce -0.4% |
| NKE Nike Inc. Class B | 0.23% | 9,117 | $579K | Add +3.8% |
| EMR Emerson Electric Co. | 0.22% | 5,078 | $557K | Reduce -8.3% |
| VIG Vanguard Dividend Apprec ETF | 0.22% | 2,856 | $554K | Add +30.7% |
| PYPL PayPal Holdings Inc. | 0.21% | 8,366 | $546K | Reduce -0.2% |
| NEM Newmont Corp. | 0.21% | 11,236 | $542K | Reduce -2.0% |
| MCD McDonald's Corp. | 0.21% | 1,732 | $541K | Add +5.6% |
| DOX Amdocs Ltd. | 0.20% | 5,676 | $519K | No change |
| DOW Dow Inc. | 0.19% | 14,129 | $493K | Add +2.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $251K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 203 | $251K | Reduce -4.7% |
Total filed on the 13F, all lines: $254.4M.
Portfolio Sells Q4 2024 → Q1 2025
| CSL Carlisle Cos Inc. | Reduce -0.8% | 9.97% | −1.03 |
| MSFT Microsoft Corp. | Reduce -0.5% | 3.97% | −0.56 |
| NVDA Nvidia Corp. | Reduce -5.3% | 0.75% | −0.24 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -50.0% | 0.31% | −0.23 |
| AVGO Broadcom Inc. | Reduce -0.7% | 0.48% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -1.1% | 1.06% | −0.19 |
| ETN Eaton Corp. PLC | Reduce -3.4% | 0.50% | −0.14 |
| FDX FedEx Corp. | Reduce -0.2% | 0.79% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -3.9% | 1.93% | −0.13 |
| PFE Pfizer Inc. | Reduce -1.5% | 1.51% | −0.11 |
| RDNT Radnet Inc. | Sold out | 0.00% | −0.11 |
| ORCL Oracle Corp. | Reduce -1.7% | 0.48% | −0.11 |
| AXP American Express Co. | Reduce -2.0% | 0.76% | −0.10 |
| BX Blackstone Inc. | Reduce -3.1% | 0.34% | −0.10 |
| TGT Target Corp. | Reduce -2.1% | 0.27% | −0.09 |
| SPG Simon Property Group Inc. | Sold out | 0.00% | −0.08 |
| NFLX Netflix Inc. | Reduce -8.8% | 1.24% | −0.07 |
| PYPL PayPal Holdings Inc. | Reduce -0.2% | 0.21% | −0.07 |
| GS Goldman Sachs Group Inc. | Reduce -0.9% | 0.95% | −0.06 |
| MS Morgan Stanley | Reduce -1.9% | 0.58% | −0.06 |
| EMR Emerson Electric Co. | Reduce -8.3% | 0.22% | −0.05 |
| TT Trane Technologies PLC | Reduce -4.8% | 0.31% | −0.05 |
| GIS General Mills Inc. | Reduce -3.0% | 0.38% | −0.04 |
| JBLU Jetblue Airways Corp. | Reduce -8.4% | 0.05% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.7% | 0.56% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -2.6% | 1.68% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.4% | 0.25% | −0.03 |
| CMI Cummins Inc. | Reduce -2.4% | 0.17% | −0.03 |
| PNC PNC Financial Services Group | Reduce -0.4% | 0.23% | −0.03 |
| ALB Albemarle Corp. | Reduce -4.3% | 0.09% | −0.02 |
| DHR Danaher Corp. | Reduce -0.2% | 0.15% | −0.02 |
| WMT Walmart Inc. | Reduce -1.0% | 0.40% | −0.02 |
| IXN iShares Global Tech ETF | Reduce -0.4% | 0.14% | −0.02 |
| AVB Avalonbay Communities Inc. | Reduce -2.2% | 0.32% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -2.9% | 0.45% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -4.4% | 0.52% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -6.0% | 0.14% | −0.02 |
| CLX Clorox Company | Reduce -0.8% | 0.14% | −0.02 |
| VTRS Viatris Inc. | Reduce -0.9% | 0.04% | −0.02 |
| TJX TJX Companies Inc. | Reduce -3.0% | 0.47% | −0.02 |
| ZM Zoom Communications Inc. | Reduce -0.5% | 0.11% | −0.01 |
| CAG Conagra Brands Inc. | Reduce -3.6% | 0.15% | −0.01 |
| NSC Norfolk Southern Corp. | Reduce -4.4% | 0.27% | −0.01 |
| RY Royal Bank of Canada | Reduce -1.7% | 0.13% | −0.01 |
| VEA Vanguard Ftse Developed ETF | Reduce -16.1% | 0.08% | −0.01 |
| MTB M & T Bank Corp. | Reduce -0.7% | 0.15% | −0.01 |
| OGN Organon & Co. | Reduce -7.1% | 0.10% | −0.01 |
| CNI Canadian Natl Railway Co. | Reduce -0.8% | 0.12% | −0.01 |
| ITW Illinois Tool Works | Reduce -0.3% | 0.19% | −0.01 |
| C Citigroup Inc. | Reduce -1.4% | 0.42% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +3.5% | 4.69% | +0.79 |
| CVS CVS Health Corp. | Add +0.3% | 1.12% | +0.37 |
| VZ Verizon Communications Inc. | Add +0.5% | 1.79% | +0.20 |
| RSP Invesco S&P 500 Equal Weight | Add +14.4% | 1.50% | +0.16 |
| GLD SPDR Gold Shares | Add +3.6% | 0.78% | +0.14 |
| KO The Coca-Cola Co. | Add +4.5% | 0.87% | +0.14 |
| AAPL Apple Inc. | Add +16.6% | 5.56% | +0.13 |
| HSY The Hershey Co. | New | 0.09% | +0.09 |
| WPC WP Carey Inc. | Add +0.0% | 0.68% | +0.09 |
| MKC McCormick & Co.-Non VTG SHRS | New | 0.08% | +0.08 |
| NVS Novartis AG-Sponsored ADR | New | 0.08% | +0.08 |
| BP BP PLC-Spons ADR | New | 0.08% | +0.08 |
| PULS Pgim Ultra Short Bond ETF | Add +26.1% | 0.28% | +0.06 |
| BMY Bristol-Myers Squibb Co. | Add +0.8% | 0.79% | +0.06 |
| VIG Vanguard Dividend Apprec ETF | Add +30.7% | 0.22% | +0.05 |
| CSCO Cisco Systems Inc. | Add +0.9% | 1.07% | +0.04 |
| GOOG Alphabet Inc. Class C | Add +44.0% | 0.25% | +0.04 |
| LLY Eli Lilly & Co. | Add +0.1% | 0.48% | +0.03 |
| B Barrick Gold Corp. | Add +2.0% | 0.13% | +0.03 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +0.1% | 0.14% | +0.03 |
| AEP American Electric Power | Add +0.9% | 0.17% | +0.03 |
| GSK GSK PLC-Spon ADR | Add +1.6% | 0.19% | +0.02 |
| MCD McDonald's Corp. | Add +5.6% | 0.21% | +0.02 |
| MDLZ Mondelez International Inc. Class A | Add +1.4% | 0.17% | +0.02 |
| MDT Medtronic PLC | Add +0.2% | 0.13% | +0.01 |
| COST Costco Wholesale Corp. | Add +0.1% | 0.57% | +0.01 |
| UL Unilever PLC | Add +0.1% | 0.32% | +0.01 |
| COP Conocophillips | Add +1.5% | 0.17% | +0.01 |
| CB Chubb Ltd. | Add +0.7% | 0.10% | +0.01 |
| NEE Nextera Energy Inc. | Add +1.7% | 0.26% | −0.00 |
| MET Metlife Inc. | Add +1.8% | 0.12% | −0.00 |
| DD Dupont DE Nemours Inc. | Add +1.6% | 0.19% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.3% | 0.08% | −0.01 |
| PEP Pepsico Inc. | Add +1.8% | 0.97% | −0.01 |
| AMD Advanced Micro Devices | Add +9.6% | 0.10% | −0.01 |
| ADBE Adobe Inc. | Add +5.4% | 0.10% | −0.01 |
| BLK BlackRock Inc. | Add +0.2% | 0.17% | −0.02 |
| CAT Caterpillar Inc. | Add +2.7% | 0.26% | −0.02 |
| DOW Dow Inc. | Add +2.3% | 0.19% | −0.03 |
| HON Honeywell International Inc. | Add +0.6% | 0.40% | −0.03 |
| TROW T Rowe Price Group Inc. | Add +1.2% | 0.13% | −0.03 |
| IWM iShares Russell 2000 ETF | Add +3.4% | 0.40% | −0.03 |
| IVV iShares Core S&P 500 ETF | Add +0.0% | 0.58% | −0.03 |
| NKE Nike Inc. Class B | Add +3.8% | 0.23% | −0.04 |
| LMT Lockheed Martin Corp. | Add +2.4% | 0.52% | −0.04 |
| DIS The Walt Disney Co. | Add +2.9% | 0.36% | −0.04 |
| BAC Bank of America Corp. | Add +1.4% | 0.79% | −0.04 |
| HD Home Depot Inc. | Add +1.1% | 0.72% | −0.04 |
| UPS United Parcel Service Class B | Add +3.2% | 0.53% | −0.06 |
| MRK Merck & Co. Inc. | Add +0.8% | 1.78% | −0.20 |
Notes & Other Activity Q4 2024 → Q1 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -4.7% | 203 | $251K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 174 | $303.3M | CSL, AAPL, BRK.B, JPM, MSFT |
| Q1 2026 | 159 | $278.3M | CSL, AAPL, BRK.B, JPM, MSFT |
| Q4 2025 | 160 | $277.1M | CSL, AAPL, MSFT, BRK.B, JPM |
| Q3 2025 | 165 | $275.3M | CSL, AAPL, MSFT, BRK.B, JPM |
| Q2 2025 | 164 | $266.3M | CSL, MSFT, AAPL, BRK.B, JPM |
| Q1 2025 | 166 | $254.1M | CSL, AAPL, BRK.B, MSFT, JPM |
| Q4 2024 | 165 | $251.5M | CSL, AAPL, MSFT, BRK.B, JPM |
| Q3 2024 | 166 | $262.0M | CSL, AAPL, MSFT, BRK.B, JPM |
| Q2 2024 | 162 | $244.9M | CSL, MSFT, AAPL, BRK.B, JPM |
| Q1 2024 | 160 | $236.0M | CSL, MSFT, AAPL, BRK.B, JPM |