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

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $236.0M Q1 2024 Q2 2024: $244.9M Q2 2024 Q3 2024: $262.0M Q3 2024 Q4 2024: $251.5M Q4 2024 Q1 2025: $254.1M Q1 2025 Q2 2025: $266.3M Q2 2025 Q3 2025: $275.3M $275.3M Q3 2025 Q4 2025: $277.1M Q4 2025 Q1 2026: $278.3M Q1 2026 Q2 2026: $303.3M Q2 2026

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%
MCD McDonald's Corp. 0.19% 1,762 $535K Add +1.6%
PYPL PayPal Holdings Inc. 0.19% 7,864 $527K Reduce -1.9%
CMI Cummins Inc. 0.19% 1,244 $525K Reduce -12.3%
GSK GSK PLC-Spon ADR 0.19% 12,128 $523K Reduce -1.0%
BTI British American Tob-SP ADR 0.19% 9,741 $517K Reduce -0.5%
USB US Bancorp 0.19% 10,654 $515K Add +0.5%
ITW Illinois Tool Works 0.18% 1,927 $502K No change
IXN iShares Global Tech ETF 0.18% 4,793 $495K Reduce -1.2%
DD Dupont DE Nemours Inc. 0.18% 6,291 $490K No change
B Barrick Mining Corp. 0.18% 14,731 $483K Reduce -9.8%
DOX Amdocs Ltd. 0.17% 5,676 $466K No change
AEP American Electric Power 0.16% 3,886 $437K Add +1.5%
AMD Advanced Micro Devices 0.15% 2,612 $423K Reduce -2.8%
MTB M & T Bank Corp. filed as M & T BK CORP 0.15% 2,107 $416K No change
RY Royal Bank of Canada 0.15% 2,821 $416K No change
MDLZ Mondelez International Inc. Class A 0.15% 6,603 $412K Add +0.8%
DRI Darden Restaurants Inc. 0.15% 2,162 $411K Reduce -1.5%
OTIS Otis Worldwide Corp. 0.15% 4,435 $405K No change
COP Conocophillips 0.14% 4,128 $390K No change
O Realty Income Corp. 0.14% 6,337 $385K Add +0.6%
TXN Texas Instruments Inc. 0.13% 2,004 $368K No change
WBD Warner Bros Discovery Inc. 0.13% 18,416 $360K Reduce -2.5%
DHR Danaher Corp. 0.13% 1,806 $358K Reduce -5.9%
TMO Thermo Fisher Scientific Inc. 0.13% 736 $357K Reduce -7.9%
HSY The Hershey Co. 0.13% 1,899 $355K No change
BDX Becton Dickinson and Co. 0.13% 1,852 $347K Reduce -3.2%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.12% 1,109 $344K No change
BUD Anheuser-Busch Inbev-SPN ADR 0.12% 5,756 $343K No change
MDT Medtronic PLC 0.12% 3,535 $337K Reduce -5.3%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.12% 3,226 $331K Reduce -1.1%
K Kellanova 0.12% 3,981 $327K No change
DOW Dow Inc. 0.11% 13,773 $316K Reduce -2.6%
NOC Northrop Grumman Corp. 0.11% 508 $310K No change
MET Metlife Inc. 0.11% 3,710 $306K Add +0.1%
RDNT Radnet Inc. 0.11% 4,000 $305K No change
CNI Canadian Natl Railway Co. 0.11% 3,154 $297K Reduce -1.6%
DOV Dover Corp. 0.11% 1,746 $291K Reduce -1.1%
CLX Clorox Company 0.11% 2,362 $291K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.10% 612 $284K No change
LRCX Lam Research Corp. 0.10% 2,117 $283K No change
CMCSA Comcast Corp. Class A 0.10% 8,399 $264K No change
ZM Zoom Communications Inc. 0.10% 3,181 $262K Reduce -2.7%
ALB Albemarle Corp. 0.09% 3,168 $257K New
VTV Vanguard Mrngstr Val ETF-Aui 0.09% 1,352 $252K No change
MDY State Street SPDR S&P Midcap 0.09% 422 $252K Reduce -5.6%
CAG Conagra Brands Inc. 0.09% 13,727 $251K Reduce -6.7%
CB Chubb Ltd. 0.09% 887 $250K Add +2.4%
WM Waste Management Inc. 0.09% 1,106 $244K No change
XYL Xylem Inc. 0.09% 1,608 $237K No change
NVS Novartis AG-Sponsored ADR 0.09% 1,828 $234K No change
VEA Vanguard Ftse Developed ETF 0.08% 3,898 $234K Reduce -3.9%
VTI VG Morningstar TS MKT ETF-US 0.08% 710 $233K Reduce -6.3%
PSA Public Storage 0.08% 798 $231K No change
XLF SS Financial Select Sector 0.08% 4,085 $220K Reduce -3.5%
INGR Ingredion Inc. 0.08% 1,795 $219K Reduce -3.6%
CFG Citizens Financial Group 0.08% 4,065 $216K New
FCX Freeport-McMoran Inc. 0.08% 5,486 $215K Add +1.9%
FISV Fiserv Inc. 0.08% 1,659 $214K Reduce -7.5%
BP BP PLC-Spons ADR 0.07% 5,960 $205K New
CL Colgate-Palmolive Co. 0.07% 2,520 $201K No change
ADBE Adobe Inc. 0.07% 567 $200K Reduce -17.6%
OGN Organon & Co. 0.06% 15,077 $161K Reduce -1.4%
JBLU Jetblue Airways Corp. 0.05% 25,221 $124K Reduce -0.7%
VTRS Viatris Inc. 0.04% 10,592 $105K Add +1.8%
HLN Haleon PLC-ADR 0.03% 10,439 $94K Reduce -3.8%
Other holdings (1): bonds, preferreds, convertibles and warrants · $260K (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 203$260KNo 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 174$303.3MCSL, AAPL, BRK.B, JPM, MSFT
Q1 2026 159$278.3MCSL, AAPL, BRK.B, JPM, MSFT
Q4 2025 160$277.1MCSL, AAPL, MSFT, BRK.B, JPM
Q3 2025 165$275.3MCSL, AAPL, MSFT, BRK.B, JPM
Q2 2025 164$266.3MCSL, MSFT, AAPL, BRK.B, JPM
Q1 2025 166$254.1MCSL, AAPL, BRK.B, MSFT, JPM
Q4 2024 165$251.5MCSL, AAPL, MSFT, BRK.B, JPM
Q3 2024 166$262.0MCSL, AAPL, MSFT, BRK.B, JPM
Q2 2024 162$244.9MCSL, MSFT, AAPL, BRK.B, JPM
Q1 2024 160$236.0MCSL, MSFT, AAPL, BRK.B, JPM