Excalibur Management Corp.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Excalibur Management Corp. reported 165 stock positions worth $275.3 million. Its top holding was Carlisle Cos (CSL) at 8.8% of the portfolio, followed by Apple (AAPL, 5.8%) and Microsoft (MSFT, 4.9%). Compared with Q2 2025, it opened 3 new positions, sold out of 2, added to 41 and reduced 91. The biggest buy was Abbvie (ABBV, shares +0%) and the biggest sale Carlisle Cos (CSL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- WALTHAM, MA
- CIK
- 0001009003
- Portfolio Value
- $275.3M (Q3 2025)
- SEC Filing
- 0001009003-25-000003 ↗ filed Nov 10, 2025
Holdings Value
Holdings 165 stocks · $275.3M
| CSL Carlisle Cos Inc. | 8.80% | 73,634 | $24.2M | Reduce -0.7% |
| AAPL Apple Inc. | 5.76% | 62,268 | $15.9M | Reduce -1.8% |
| MSFT Microsoft Corp. | 4.91% | 26,080 | $13.5M | Reduce -2.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.99% | 21,872 | $11.0M | Reduce -0.4% |
| JPM JPMorgan Chase & Co. | 3.99% | 34,804 | $11.0M | Reduce -1.0% |
| JNJ Johnson & Johnson | 2.57% | 38,166 | $7.1M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 2.11% | 7,916 | $5.8M | Reduce -4.9% |
| GOOGL Alphabet Inc. Class A | 1.72% | 19,454 | $4.7M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 1.60% | 100,506 | $4.4M | Add +0.7% |
| MRK Merck & Co. Inc. | 1.58% | 51,998 | $4.4M | Add +0.3% |
| V Visa Inc. Class A | 1.58% | 12,771 | $4.4M | Reduce -1.1% |
| T AT&T Inc. | 1.54% | 150,080 | $4.2M | Add +1.0% |
| RSP Invesco S&P 500 Equal Weight | 1.49% | 21,638 | $4.1M | Reduce -0.6% |
| NFLX Netflix Inc. | 1.41% | 3,233 | $3.9M | Reduce -0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.39% | 13,612 | $3.8M | Add +0.1% |
| PG The Procter & Gamble Co. | 1.39% | 24,974 | $3.8M | Reduce -0.3% |
| PFE Pfizer Inc. | 1.35% | 145,668 | $3.7M | Reduce -2.9% |
| GS Goldman Sachs Group Inc. | 1.24% | 4,298 | $3.4M | Reduce -0.2% |
| NVDA Nvidia Corp. | 1.21% | 17,918 | $3.3M | Reduce -3.1% |
| ABBV Abbvie Inc. | 1.15% | 13,725 | $3.2M | Add +0.2% |
| AMZN Amazon.com Inc. | 1.11% | 13,973 | $3.1M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 1.11% | 27,030 | $3.0M | Add +0.4% |
| CVS CVS Health Corp. | 1.10% | 40,154 | $3.0M | Reduce -1.6% |
| CSCO Cisco Systems Inc. | 1.05% | 42,357 | $2.9M | Reduce -4.1% |
| CVX Chevron Corp. | 1.03% | 18,339 | $2.8M | Add +1.3% |
| PEP Pepsico Inc. | 0.93% | 18,306 | $2.6M | Add +4.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.90% | 48,137 | $2.5M | Reduce -0.4% |
| GILD Gilead Sciences Inc. | 0.89% | 21,985 | $2.4M | Reduce -0.6% |
| GLD SPDR Gold Shares | 0.88% | 6,846 | $2.4M | Reduce -0.8% |
| ORCL Oracle Corp. | 0.87% | 8,534 | $2.4M | Reduce -2.1% |
| RTX RTX Corp. | 0.84% | 13,786 | $2.3M | Reduce -2.1% |
| AVGO Broadcom Inc. | 0.82% | 6,852 | $2.3M | Reduce -5.1% |
| AXP American Express Co. | 0.81% | 6,726 | $2.2M | Reduce -6.0% |
| KMI Kinder Morgan Inc. | 0.76% | 73,489 | $2.1M | Reduce -0.2% |
| KO The Coca-Cola Co. | 0.74% | 30,843 | $2.0M | Add +0.5% |
| HD Home Depot Inc. | 0.73% | 4,938 | $2.0M | Reduce -0.5% |
| SPGI S&P Global Inc. | 0.72% | 4,081 | $2.0M | No change |
| MS Morgan Stanley | 0.71% | 12,352 | $2.0M | Reduce -1.9% |
| ABT Abbott Laboratories | 0.67% | 13,843 | $1.9M | Add +0.5% |
| AMGN Amgen Inc. | 0.66% | 6,408 | $1.8M | Add +0.0% |
| WPC WP Carey Inc. | 0.65% | 26,541 | $1.8M | Reduce -0.1% |
| IVV iShares Core S&P 500 ETF | 0.64% | 2,621 | $1.8M | No change |
| FDX FedEx Corp. | 0.64% | 7,436 | $1.8M | Reduce -3.7% |
| INTC Intel Corp. | 0.62% | 51,019 | $1.7M | Reduce -4.8% |
| ETN Eaton Corp. PLC | 0.61% | 4,480 | $1.7M | Reduce -5.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.61% | 2,504 | $1.7M | Reduce -1.1% |
| SHEL Shell PLC-ADR | 0.58% | 22,292 | $1.6M | Add +0.1% |
| INDB Independent Bank Corp. | 0.57% | 22,850 | $1.6M | No change |
| MA Mastercard Inc. Class A | 0.56% | 2,720 | $1.5M | Add +0.1% |
| LMT Lockheed Martin Corp. | 0.55% | 3,060 | $1.5M | Add +5.0% |
| WFC Wells Fargo & Co. | 0.55% | 18,123 | $1.5M | Reduce -0.6% |
| PM Philip Morris International | 0.55% | 9,273 | $1.5M | Reduce -10.4% |
| C Citigroup Inc. | 0.54% | 14,673 | $1.5M | Reduce -0.1% |
| DUK Duke Energy Corp. | 0.54% | 11,994 | $1.5M | Reduce -0.0% |
| MMM 3M Co. | 0.54% | 9,549 | $1.5M | Add +0.1% |
| COST Costco Wholesale Corp. | 0.52% | 1,540 | $1.4M | Add +0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.51% | 9,684 | $1.4M | Reduce -0.6% |
| BMY Bristol-Myers Squibb Co. | 0.51% | 30,859 | $1.4M | Reduce -2.6% |
| ED Consolidated Edison Inc. | 0.48% | 13,155 | $1.3M | Add +0.3% |
| PNW Pinnacle West Capital | 0.46% | 13,976 | $1.3M | Add +0.3% |
| QCOM Qualcomm Inc. | 0.45% | 7,417 | $1.2M | Reduce -1.6% |
| IWM iShares Russell 2000 ETF | 0.45% | 5,088 | $1.2M | Reduce -5.2% |
| WMT Walmart Inc. | 0.44% | 11,723 | $1.2M | Add +0.2% |
| MO Altria Group Inc. | 0.43% | 17,987 | $1.2M | Reduce -0.1% |
| SYK Stryker Corp. | 0.41% | 3,043 | $1.1M | Reduce -1.6% |
| UNP Union Pacific Corp. | 0.40% | 4,692 | $1.1M | Reduce -0.8% |
| GLDM SPDR Gold Minishares Trust | 0.40% | 14,494 | $1.1M | Add +13.9% |
| GE General Electric filed as GE AEROSPACE | 0.40% | 3,637 | $1.1M | Reduce -0.8% |
| LLY Eli Lilly & Co. | 0.39% | 1,397 | $1.1M | Reduce -1.5% |
| MCK McKesson Corp. | 0.38% | 1,348 | $1.0M | Reduce -3.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 8,842 | $1.0M | Reduce -3.0% |
| DE Deere & Co. | 0.37% | 2,214 | $1.0M | Reduce -3.3% |
| GOOG Alphabet Inc. Class C | 0.36% | 4,090 | $996K | No change |
| HON Honeywell International Inc. | 0.36% | 4,731 | $996K | Add +1.7% |
| UPS United Parcel Service Class B | 0.35% | 11,578 | $967K | Reduce -2.6% |
| NEM Newmont Corp. | 0.34% | 11,144 | $940K | Add +0.0% |
| TT Trane Technologies PLC | 0.34% | 2,206 | $931K | Reduce -2.1% |
| SO The Southern Co. | 0.34% | 9,800 | $929K | Reduce -0.3% |
| CAT Caterpillar Inc. | 0.33% | 1,906 | $909K | Reduce -3.8% |
| PULS Pgim Ultra Short Bond ETF | 0.32% | 17,657 | $880K | Add +14.4% |
| D Dominion Energy Inc. | 0.32% | 14,374 | $879K | Add +0.0% |
| NSC Norfolk Southern Corp. | 0.32% | 2,911 | $874K | No change |
| VIG Vanguard Dividend Apprec ETF | 0.31% | 3,993 | $862K | Add +11.7% |
| SBUX Starbucks Corp. | 0.31% | 10,132 | $857K | Reduce -0.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.30% | 1,367 | $820K | Add +0.1% |
| KMB Kimberly-Clark Corp. | 0.29% | 6,500 | $808K | Add +0.4% |
| GIS General Mills Inc. | 0.29% | 15,922 | $803K | Reduce -4.6% |
| UL Unilever PLC | 0.29% | 13,411 | $795K | Reduce -0.6% |
| CARR Carrier Global Corp. | 0.28% | 12,786 | $763K | Reduce -2.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.27% | 1 | $754K | No change |
| NEE Nextera Energy Inc. | 0.26% | 9,650 | $728K | Add +0.3% |
| AVB Avalonbay Communities Inc. | 0.26% | 3,737 | $722K | Reduce -0.8% |
| NKE Nike Inc. Class B | 0.26% | 10,325 | $720K | Reduce -1.9% |
| BX Blackstone Inc. | 0.25% | 4,033 | $689K | Reduce -13.9% |
| PNC PNC Financial Services Group | 0.25% | 3,363 | $676K | Add +0.2% |
| EMR Emerson Electric Co. | 0.24% | 5,081 | $667K | Add +0.1% |
| TGT Target Corp. | 0.23% | 7,075 | $635K | Reduce -2.5% |
| GEV GE Vernova Inc. | 0.20% | 909 | $559K | Reduce -0.6% |
| PSX Phillips 66 | 0.20% | 3,979 | $541K | Add +0.4% |
| BLK BlackRock Inc. | 0.20% | 462 | $539K | Add +3.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $260K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 203 | $260K | No change |
Total filed on the 13F, all lines: $275.6M.
Portfolio Sells Q2 2025 → Q3 2025
| CSL Carlisle Cos Inc. | Reduce -0.7% | 8.80% | −1.60 |
| NFLX Netflix Inc. | Reduce -0.9% | 1.41% | −0.23 |
| META Meta Platforms Inc. Class A | Reduce -4.9% | 2.11% | −0.20 |
| PM Philip Morris International | Reduce -10.4% | 0.55% | −0.16 |
| V Visa Inc. Class A | Reduce -1.1% | 1.58% | −0.14 |
| PG The Procter & Gamble Co. | Reduce -0.3% | 1.39% | −0.11 |
| UPS United Parcel Service Class B | Reduce -2.6% | 0.35% | −0.10 |
| CSCO Cisco Systems Inc. | Reduce -4.1% | 1.05% | −0.10 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.09 |
| MSFT Microsoft Corp. | Reduce -2.5% | 4.91% | −0.09 |
| CARR Carrier Global Corp. | Reduce -2.3% | 0.28% | −0.08 |
| DE Deere & Co. | Reduce -3.3% | 0.37% | −0.07 |
| KMI Kinder Morgan Inc. | Reduce -0.2% | 0.76% | −0.06 |
| DIS The Walt Disney Co. | Reduce -3.0% | 0.37% | −0.06 |
| SYK Stryker Corp. | Reduce -1.6% | 0.41% | −0.05 |
| AXP American Express Co. | Reduce -6.0% | 0.81% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -0.8% | 1.11% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -2.6% | 0.51% | −0.05 |
| SBUX Starbucks Corp. | Reduce -0.9% | 0.31% | −0.04 |
| FISV Fiserv Inc. | Reduce -7.5% | 0.08% | −0.04 |
| TGT Target Corp. | Reduce -2.5% | 0.23% | −0.04 |
| GILD Gilead Sciences Inc. | Reduce -0.6% | 0.89% | −0.03 |
| GIS General Mills Inc. | Reduce -4.6% | 0.29% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -1.9% | 0.19% | −0.03 |
| TT Trane Technologies PLC | Reduce -2.1% | 0.34% | −0.03 |
| DRI Darden Restaurants Inc. | Reduce -1.5% | 0.15% | −0.03 |
| LLY Eli Lilly & Co. | Reduce -1.5% | 0.39% | −0.03 |
| ADBE Adobe Inc. | Reduce -17.6% | 0.07% | −0.03 |
| DOW Dow Inc. | Reduce -2.6% | 0.11% | −0.03 |
| AVB Avalonbay Communities Inc. | Reduce -0.8% | 0.26% | −0.03 |
| ETN Eaton Corp. PLC | Reduce -5.2% | 0.61% | −0.02 |
| FDX FedEx Corp. | Reduce -3.7% | 0.64% | −0.02 |
| CAG Conagra Brands Inc. | Reduce -6.7% | 0.09% | −0.02 |
| UL Unilever PLC | Reduce -0.6% | 0.29% | −0.02 |
| PARSONS CORP (PSN 0.25 08/15/25) | Sold out | 0.00% | −0.02 |
| NKE Nike Inc. Class B | Reduce -1.9% | 0.26% | −0.02 |
| PFE Pfizer Inc. | Reduce -2.9% | 1.35% | −0.02 |
| CNI Canadian Natl Railway Co. | Reduce -1.6% | 0.11% | −0.02 |
| DOV Dover Corp. | Reduce -1.1% | 0.11% | −0.02 |
| INGR Ingredion Inc. | Reduce -3.6% | 0.08% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 3.99% | −0.01 |
| BX Blackstone Inc. | Reduce -13.9% | 0.25% | −0.01 |
| DHR Danaher Corp. | Reduce -5.9% | 0.13% | −0.01 |
| HLN Haleon PLC-ADR | Reduce -3.8% | 0.03% | −0.01 |
| UNP Union Pacific Corp. | Reduce -0.8% | 0.40% | −0.01 |
| MCK McKesson Corp. | Reduce -3.2% | 0.38% | −0.00 |
| MDY State Street SPDR S&P Midcap | Reduce -5.6% | 0.09% | −0.00 |
| XLF SS Financial Select Sector | Reduce -3.5% | 0.08% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -1.6% | 0.45% | −0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -3.9% | 0.08% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| ABBV Abbvie Inc. | Add +0.2% | 1.15% | +0.20 |
| NEM Newmont Corp. | Add +0.0% | 0.34% | +0.10 |
| ALB Albemarle Corp. | New | 0.09% | +0.09 |
| GLDM SPDR Gold Minishares Trust | Add +13.9% | 0.40% | +0.09 |
| CFG Citizens Financial Group | New | 0.08% | +0.08 |
| BP BP PLC-Spons ADR | New | 0.07% | +0.07 |
| PEP Pepsico Inc. | Add +4.2% | 0.93% | +0.06 |
| CVX Chevron Corp. | Add +1.3% | 1.03% | +0.06 |
| LMT Lockheed Martin Corp. | Add +5.0% | 0.55% | +0.05 |
| MRK Merck & Co. Inc. | Add +0.3% | 1.58% | +0.04 |
| VIG Vanguard Dividend Apprec ETF | Add +11.7% | 0.31% | +0.04 |
| PULS Pgim Ultra Short Bond ETF | Add +14.4% | 0.32% | +0.03 |
| BLK BlackRock Inc. | Add +3.1% | 0.20% | +0.02 |
| PSX Phillips 66 | Add +0.4% | 0.20% | +0.02 |
| XOM Exxon Mobil Corp. | Add +0.4% | 1.11% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.1% | 0.30% | +0.01 |
| D Dominion Energy Inc. | Add +0.0% | 0.32% | +0.01 |
| NEE Nextera Energy Inc. | Add +0.3% | 0.26% | +0.01 |
| PNC PNC Financial Services Group | Add +0.2% | 0.25% | +0.01 |
| AEP American Electric Power | Add +1.5% | 0.16% | +0.01 |
| WMT Walmart Inc. | Add +0.2% | 0.44% | +0.01 |
| USB US Bancorp | Add +0.5% | 0.19% | +0.01 |
| MCD McDonald's Corp. | Add +1.6% | 0.19% | +0.00 |
| O Realty Income Corp. | Add +0.6% | 0.14% | +0.00 |
| VTRS Viatris Inc. | Add +1.8% | 0.04% | +0.00 |
| MET Metlife Inc. | Add +0.1% | 0.11% | −0.00 |
| CB Chubb Ltd. | Add +2.4% | 0.09% | −0.00 |
| MMM 3M Co. | Add +0.1% | 0.54% | −0.01 |
| FCX Freeport-McMoran Inc. | Add +1.9% | 0.08% | −0.01 |
| SHEL Shell PLC-ADR | Add +0.1% | 0.58% | −0.01 |
| MA Mastercard Inc. Class A | Add +0.1% | 0.56% | −0.01 |
| EMR Emerson Electric Co. | Add +0.1% | 0.24% | −0.01 |
| PNW Pinnacle West Capital | Add +0.3% | 0.46% | −0.01 |
| ED Consolidated Edison Inc. | Add +0.3% | 0.48% | −0.01 |
| AMGN Amgen Inc. | Add +0.0% | 0.66% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Add +0.8% | 0.15% | −0.02 |
| VZ Verizon Communications Inc. | Add +0.7% | 1.60% | −0.02 |
| KMB Kimberly-Clark Corp. | Add +0.4% | 0.29% | −0.02 |
| ABT Abbott Laboratories | Add +0.5% | 0.67% | −0.03 |
| HON Honeywell International Inc. | Add +1.7% | 0.36% | −0.05 |
| COST Costco Wholesale Corp. | Add +0.5% | 0.52% | −0.05 |
| KO The Coca-Cola Co. | Add +0.5% | 0.74% | −0.07 |
| T AT&T Inc. | Add +1.0% | 1.54% | −0.08 |
| IBM Intl Business Machines Corp. | Add +0.1% | 1.39% | −0.11 |
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 |