# Cumberland Partners Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1578985. Source: https://holderbook.com/funds/1578985-cumberland-partners-ltd/

- Reported value: $1.5B
- Positions: 153
- Weight of the ten largest: 37.3%
- Filed: 2026-08-06

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $79.9M | 386,426 | 5.2% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $70.8M | 353,693 | 4.6% | 12 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $66.0M | 176,987 | 4.3% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $62.1M | 260,465 | 4.0% | 13 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $59.2M | 167,640 | 3.8% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $50.6M | 446,379 | 3.3% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $47.7M | 92,008 | 3.1% | 14 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $47.3M | 39,407 | 3.1% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $46.7M | 161,477 | 3.0% | 31 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $45.3M | 522,360 | 2.9% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $43.4M | 46,434 | 2.8% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $35.6M | 83,528 | 2.3% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $35.1M | 129,041 | 2.3% | 2 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $34.6M | 142,839 | 2.2% | 3 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $33.2M | 43,950 | 2.1% | 13 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $32.9M | 832,392 | 2.1% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $31.6M | 83,644 | 2.0% | 30 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $29.7M | 52,806 | 1.9% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $28.9M | 80,921 | 1.9% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $26.9M | 64,734 | 1.7% | 4 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $23.8M | 461,735 | 1.5% | 8 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $23.5M | 68,418 | 1.5% | 31 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $23.1M | 121,834 | 1.5% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $22.7M | 47,543 | 1.5% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $21.6M | 302,802 | 1.4% | 10 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $21.4M | 49,530 | 1.4% | 4 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $19.8M | 130,887 | 1.3% | 5 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $19.5M | 110,784 | 1.3% | 15 |
| SPROTT FDS TR | [URNM](https://holderbook.com/stocks/URNM/) | $19.3M | 366,088 | 1.2% | 3 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $16.8M | 42,227 | 1.1% | 4 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $16.7M | 164,268 | 1.1% | 22 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $16.0M | 173,884 | 1.0% | 14 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $15.2M | 129,475 | 1.0% | 4 |
| PULTE GROUP INC | [PHM](https://holderbook.com/stocks/PHM/) | $14.8M | 107,923 | 1.0% | 3 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $12.7M | 53,349 | 0.8% | 4 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $12.5M | 46,440 | 0.8% | 12 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $12.4M | 37,954 | 0.8% | 4 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $11.9M | 97,731 | 0.8% | 19 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $11.7M | 46,647 | 0.8% | 10 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $11.1M | 29,748 | 0.7% | 5 |
| NASDAQ INC | [NDAQ](https://holderbook.com/stocks/NDAQ/) | $9.7M | 122,725 | 0.6% | 8 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $8.2M | 35,380 | 0.5% | 4 |
| MDA SPACE LTD | [MDA](https://holderbook.com/stocks/MDA/) | $8.1M | 195,695 | 0.5% | 2 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $8.0M | 31,490 | 0.5% | 10 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $7.6M | 41,960 | 0.5% | 9 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $7.3M | 380,005 | 0.5% | 10 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $7.0M | 9,641 | 0.5% | 13 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $6.8M | 38,479 | 0.4% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $6.7M | 5,826 | 0.4% | 2 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $6.7M | 6,804 | 0.4% | 14 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $6.2M | 206,200 | 0.4% | 15 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $6.0M | 16,304 | 0.4% | 28 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $5.8M | 6,015 | 0.4% | 7 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $5.8M | 22,550 | 0.4% | 6 |
| HUDBAY MINERALS INC | [HBM](https://holderbook.com/stocks/HBM/) | $5.5M | 232,800 | 0.4% | 20 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $5.4M | 117,655 | 0.4% | 19 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $5.4M | 12,500 | 0.4% | 2 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $5.4M | 61,876 | 0.3% | 13 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $5.3M | 84,810 | 0.3% | 4 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $4.6M | 38,450 | 0.3% | 3 |
| COCA-COLA EUROPACIFIC PARTNE | [CCEP](https://holderbook.com/stocks/CCEP/) | $4.5M | 45,090 | 0.3% | 5 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $4.5M | 187,055 | 0.3% | 7 |
| FIRST TR EXCHANGE TRADED FD | [GRID](https://holderbook.com/stocks/GRID/) | $4.3M | 22,596 | 0.3% | 2 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $4.2M | 8,368 | 0.3% | 10 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $4.0M | 2,000 | 0.3% | 2 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $3.8M | 39,413 | 0.2% | 5 |
| SPROTT INC | [SII](https://holderbook.com/stocks/SII/) | $3.6M | 32,400 | 0.2% | 4 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $3.6M | 5,602 | 0.2% | 5 |
| FIRSTSERVICE CORP NEW | [FSV](https://holderbook.com/stocks/FSV/) | $3.5M | 24,300 | 0.2% | 29 |
| SIMPLIFY EXCHANGE TRADED FUN | [CTA](https://holderbook.com/stocks/CTA/) | $3.2M | 125,198 | 0.2% | 6 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $3.2M | 14,800 | 0.2% | 15 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $3.1M | 55,900 | 0.2% | 3 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $3.0M | 159,280 | 0.2% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $3.0M | 52,675 | 0.2% | 31 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $3.0M | 28,476 | 0.2% | 5 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $2.9M | 31,000 | 0.2% | 3 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $2.8M | 5,500 | 0.2% | 10 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $2.7M | 28,382 | 0.2% | 5 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $2.7M | 3,263 | 0.2% | 5 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $2.7M | 17,015 | 0.2% | 5 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $2.5M | 17,000 | 0.2% | 2 |
| PRICESMART INC | [PSMT](https://holderbook.com/stocks/PSMT/) | $2.4M | 12,310 | 0.2% | 1 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $2.4M | 7,000 | 0.2% | 2 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $2.4M | 3,000 | 0.2% | 1 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $2.4M | 52,825 | 0.2% | 6 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $2.3M | 26,880 | 0.2% | 1 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $2.3M | 7,500 | 0.1% | 5 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $2.3M | 5,550 | 0.1% | 31 |
| RAYMOND JAMES FINL INC | [RJF](https://holderbook.com/stocks/RJF/) | $2.3M | 14,800 | 0.1% | 11 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $2.2M | 31,400 | 0.1% | 31 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $2.1M | 3,800 | 0.1% | 8 |
| WEATHERFORD INTL PLC | [WFRD](https://holderbook.com/stocks/WFRD/) | $2.1M | 26,100 | 0.1% | 1 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $2.0M | 9,945 | 0.1% | 3 |
| ISHARES TR | [IGIB](https://holderbook.com/stocks/IGIB/) | $2.0M | 37,673 | 0.1% | 8 |
| CURTISS WRIGHT CORP | [CW](https://holderbook.com/stocks/CW/) | $2.0M | 2,600 | 0.1% | 1 |
| WOODWARD INC | [WWD](https://holderbook.com/stocks/WWD/) | $2.0M | 4,600 | 0.1% | 1 |
| FABRINET | [FN](https://holderbook.com/stocks/FN/) | $2.0M | 3,470 | 0.1% | 1 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $1.9M | 8,700 | 0.1% | 1 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $1.9M | 9,500 | 0.1% | 8 |
| AMER SPORTS INC | [AS](https://holderbook.com/stocks/AS/) | $1.8M | 54,335 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.4% | +14.8% | -3.5% | 100% |
| Q1 2026 | -4.8% | -4.6% | -0.2% | 100% |
| Q4 2025 | +2.0% | +2.4% | -0.3% | 100% |
| Q3 2025 | +4.1% | +7.8% | -3.7% | 100% |
| Q2 2025 | +12.2% | +10.5% | +1.8% | 100% |
| Q1 2025 | -4.4% | -4.6% | +0.2% | 100% |
| Q4 2024 | +0.2% | +2.1% | -2.0% | 100% |
| Q3 2024 | +5.4% | +5.4% | +0.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.5B | 153 |
| Q1 2026 | $1.3B | 157 |
| Q4 2025 | $1.6B | 172 |
| Q3 2025 | $1.5B | 162 |
| Q2 2025 | $1.4B | 169 |
| Q1 2025 | $1.3B | 168 |
| Q4 2024 | $1.4B | 164 |
| Q3 2024 | $1.4B | 178 |
| Q2 2024 | $1.4B | 169 |
| Q1 2024 | $1.4B | 187 |
| Q4 2023 | $1.1B | 178 |
| Q3 2023 | $1.0B | 171 |