ACADEMY CAPITAL MANAGEMENT

Advisory Business

Type of Organization	Corporation
Fiscal Year End	DECEMBER
Legal Location	Texas, United States

Employees

Total Number of Employees	8
Investment Advisory/Research	4
Registered Broker-Dealer Representatives	0
Registered State Investment Advisers	4
Licensed Agents of an Insurance Company	0
No. of Firms/People that Solicit Clients	4

RAUM

Provides Management of Securities Portfolios	Yes

Type	Accounts	RAUM
Discretionary	951	$896.1M
Non-Discretionary	0	$0
Total	951	$896.1M

Clients

Type	Number	RAUM
Individuals	869	$417.6M
HNW Individuals	28	$416.7M
Banking or thrift institutions	0	$0
Investment companies	0	$0
Business development companies	0	$0
Pooled investment vehicles	0	$0
Pension and profit sharing plans	19	$22.2M
Charitable organizations	14	$21.2M
State or municipal gov entities	0	$0
Other investment advisers	0	$0
Insurance companies	0	$0
Sovereign wealth funds and foreign official institutions	0	$0
Corporations or other businesses	21	$18.5M
Other	0	$0

Type	Number
No. of Non-RAUM Clients	0
No. of Non-U.S. Clients	0
No. of Financial Planning Clients	0

Services

Advisory Services	Portfolio management for individuals and/or small businesses
Compensation	% of AUMFixed fees

Wrap Fee Program

Offers Wrap Fee Program	Yes

Acting As	RAUM
Sponsor	0
Portfolio Manager	182.1M
Both for Same	0

Portfolio Manager to Program	Sponsor
INVESTMENT MANAGEMENT SERVICES	MORGAN STANLEY SMITH BARNEY

Identifiers

SEC RIA File Number	801-27836
SEC ERA File Number	801-27836
SEC CIK Numbers	1031972
SEC CRD Numbers	105008
Legal Entity Identifier	None

Principal Office

500 N VALLEY MILLS DR STE #200
WACO
TX
United States

Websites

Chief Compliance Officer

No. Employees, Historic

RAUM, Historic

No. Clients, Historic