Q4 2025 · 13F-HR
Cumberland Partners Ltdholdings as filed
Filed 2026-02-06 · accession 0001104659-26-011555
$1.63B
Reported value
172
Positions
2025-12-31
Period end
The Brief · Cumberland Partners Ltd · Q4 2025
AI · grounded in 13F
Cumberland Partners Ltd closed its position in Marsh & McLennan Cos Inc MRSH, reducing its exposure by $26.99M. The fund established new positions in Pulte Group Inc PHM for $14.49M and Sprott FDS Tr URNM for $12.33M. Additionally, the fund increased its stake in Shopify Inc SHOP by 1,781%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | MICROSOFT CORP | $92.7M | 5.68% | 191,636 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $75.6M | 4.63% | 405,267 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $66.8M | 4.09% | 599,541 | Common | SOLE |
| 780087102 | RY | ROYAL BK CDA | $66.7M | 4.09% | 391,226 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $63.7M | 3.90% | 96,456 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $63.5M | 3.89% | 275,020 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $54.4M | 3.33% | 199,971 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $53.4M | 3.27% | 170,208 | Common | SOLE |
| 92826C839 | V | VISA INC | $49.8M | 3.05% | 141,961 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $48.7M | 2.98% | 93,240 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $43.9M | 2.69% | 272,184 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $41.5M | 2.54% | 119,894 | Common | SOLE |
| 064149107 | BNS | BANK NOVA SCOTIA HALIFAX | $40.8M | 2.50% | 552,819 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $36.7M | 2.25% | 115,148 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $36.7M | 2.25% | 34,125 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $36.6M | 2.24% | 42,398 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $35.7M | 2.18% | 113,905 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $32.2M | 1.97% | 56,400 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $30.8M | 1.89% | 72,343 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $21.6M | 1.32% | 71,152 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $21.5M | 1.32% | 65,256 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $20.7M | 1.27% | 60,287 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP NEW | $20.6M | 1.26% | 152,105 | Common | SOLE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY | $17.6M | 1.08% | 238,318 | Common | SOLE |
| 67103H107 | ORLY | OREILLY AUTOMOTIVE INC | $16.2M | 0.99% | 177,807 | Common | SOLE |
| 85472N109 | STN | STANTEC INC | $15.1M | 0.92% | 159,529 | Common | SOLE |
| 745867101 | PHM | PULTE GROUP INC | $14.5M | 0.89% | 123,603 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $14.4M | 0.88% | 157,246 | Common | SOLE |
| 85208P303 | URNM | SPROTT FDS TR | $12.3M | 0.76% | 224,686 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $12.3M | 0.75% | 59,375 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $11.5M | 0.71% | 123,159 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $11.5M | 0.71% | 125,412 | Common | SOLE |
| 891160509 | TD | TORONTO DOMINION BK ONT | $10.3M | 0.63% | 109,259 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $9.5M | 0.58% | 29,427 | Common | SOLE |
| 631103108 | NDAQ | NASDAQ INC | $9.4M | 0.58% | 97,288 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $9.4M | 0.58% | 122,035 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC NEW | $9.4M | 0.57% | 242,260 | Common | SOLE |
| 701094104 | PH | PARKER-HANNIFIN CORP | $9.3M | 0.57% | 10,550 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $9.1M | 0.56% | 40,032 | Common | SOLE |
| 136385101 | CNQ | CANADIAN NAT RES LTD | $8.8M | 0.54% | 260,352 | Common | SOLE |
| 443201108 | HWM | HOWMET AEROSPACE INC | $8.7M | 0.54% | 42,670 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $8.6M | 0.53% | 105,000 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $8.3M | 0.51% | 27,065 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $8.1M | 0.50% | 52,802 | Common | SOLE |
| 052769106 | ADSK | AUTODESK INC | $7.6M | 0.46% | 25,646 | Common | SOLE |
| 387437205 | GRTUF | GRANITE REAL ESTATE INVT TR | $7.6M | 0.46% | 126,910 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $7.4M | 0.45% | 18,608 | Common | SOLE |
| 24703L202 | DELL | DELL TECHNOLOGIES INC | $7.3M | 0.45% | 57,980 | Common | SOLE |
| 58155Q103 | MCK | MCKESSON CORP | $6.6M | 0.40% | 8,025 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $6.5M | 0.40% | 40,630 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER L P | $6.3M | 0.38% | 380,005 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $6.0M | 0.37% | 22,600 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INC | $6.0M | 0.37% | 23,253 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $5.8M | 0.36% | 5,465 | Common | SOLE |
| 82889N657 | TUA | SIMPLIFY EXCHANGE TRADED FUN | $5.8M | 0.36% | 265,795 | Common | SOLE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $5.8M | 0.36% | 20,550 | Common | SOLE |
| 922475108 | VEEV | VEEVA SYS INC | $5.8M | 0.36% | 26,000 | Common | SOLE |
| 706327103 | PBA | PEMBINA PIPELINE CORP | $5.4M | 0.33% | 142,856 | Common | SOLE |
| 61174X109 | MNST | MONSTER BEVERAGE CORP NEW | $5.4M | 0.33% | 69,782 | Common | SOLE |
| 063671101 | BMO | BANK MONTREAL QUE | $5.3M | 0.33% | 41,008 | Common | SOLE |
| 113004105 | BAM | BROOKFIELD ASSET MANAGMT LTD | $5.2M | 0.32% | 98,515 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $5.1M | 0.31% | 2,550 | Common | SOLE |
| 761152107 | RMD | RESMED INC | $5.1M | 0.31% | 21,000 | Common | SOLE |
| G93A5A101 | VIK | VIKING HOLDINGS LTD | $5.0M | 0.31% | 70,000 | Common | SOLE |
| 363576109 | AJG | GALLAGHER ARTHUR J & CO | $4.9M | 0.30% | 19,022 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $4.8M | 0.30% | 900 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $4.8M | 0.29% | 285,000 | Common | SOLE |
| 031100100 | AME | AMETEK INC | $4.7M | 0.29% | 23,063 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $4.7M | 0.29% | 29,025 | Common | SOLE |
| 464289180 | EUFN | ISHARES TR | $4.7M | 0.29% | 126,135 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $4.7M | 0.29% | 75,650 | Common | SOLE |
| 754730109 | RJF | RAYMOND JAMES FINL INC | $4.7M | 0.29% | 29,100 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $4.6M | 0.28% | 232,800 | Common | SOLE |
| 525327102 | LDOS | LEIDOS HOLDINGS INC | $4.5M | 0.28% | 25,000 | Common | SOLE |
| G87052109 | TEL | TE CONNECTIVITY PLC | $4.4M | 0.27% | 19,325 | Common | SOLE |
| 969904101 | WSM | WILLIAMS SONOMA INC | $4.4M | 0.27% | 24,460 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INC | $4.4M | 0.27% | 9,607 | Common | SOLE |
| G25839104 | CCEP | COCA-COLA EUROPACIFIC PARTNE | $4.3M | 0.26% | 47,690 | Common | SOLE |
| 43300A203 | HLT | HILTON WORLDWIDE HLDGS INC | $4.3M | 0.26% | 15,000 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $4.2M | 0.26% | 12,000 | Common | SOLE |
| 03831W108 | APP | APPLOVIN CORP | $4.0M | 0.25% | 6,000 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $4.0M | 0.24% | 34,923 | Common | SOLE |
| 55354G100 | MSCI | MSCI INC | $3.9M | 0.24% | 6,750 | Common | SOLE |
| 29084Q100 | EME | EMCOR GROUP INC | $3.9M | 0.24% | 6,300 | Common | SOLE |
| 40412C101 | HCA | HCA HEALTHCARE INC | $3.9M | 0.24% | 8,250 | Common | SOLE |
| 33767E202 | FSV | FIRSTSERVICE CORP NEW | $3.8M | 0.23% | 24,550 | Common | SOLE |
| 127387108 | CDNS | CADENCE DESIGN SYSTEM INC | $3.8M | 0.23% | 12,132 | Common | SOLE |
| 461202103 | INTU | INTUIT | $3.7M | 0.23% | 5,550 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $3.7M | 0.22% | 34,000 | Common | SOLE |
| 942749102 | WTS | WATTS WATER TECHNOLOGIES INC | $3.6M | 0.22% | 13,000 | Common | SOLE |
| G0403H108 | AON | AON PLC | $3.4M | 0.21% | 9,730 | Common | SOLE |
| 482480100 | KLAC | KLA CORP | $3.4M | 0.21% | 2,800 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $3.3M | 0.20% | 25,998 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $3.3M | 0.20% | 130,570 | Common | SOLE |
| 852066208 | SII | SPROTT INC | $3.2M | 0.19% | 32,300 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $3.1M | 0.19% | 55,560 | Common | SOLE |
| 82889N699 | CTA | SIMPLIFY EXCHANGE TRADED FUN | $3.0M | 0.18% | 110,322 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $3.0M | 0.18% | 6,423 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $2.9M | 0.18% | 12,000 | Common | SOLE |
| G87110105 | FTI | TECHNIPFMC PLC | $2.9M | 0.18% | 65,000 | Common | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INC | $2.9M | 0.18% | 12,718 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $2.8M | 0.17% | 161,370 | Common | SOLE |
| 249906108 | DSGX | DESCARTES SYS GROUP INC | $2.8M | 0.17% | 31,450 | Common | SOLE |
| 884903808 | TRI4EUR | THOMSON REUTERS CORP | $2.5M | 0.15% | 19,022 | Common | SOLE |
| 760759100 | RSG | REPUBLIC SVCS INC | $2.5M | 0.15% | 11,650 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $2.4M | 0.15% | 24,900 | Common | SOLE |
| 49714P108 | KNSL | KINSALE CAP GROUP INC | $2.3M | 0.14% | 6,000 | Common | SOLE |
| 15118V207 | CELH | CELSIUS HLDGS INC | $2.3M | 0.14% | 50,000 | Common | SOLE |
| 34959E109 | FTNT | FORTINET INC | $2.1M | 0.13% | 27,000 | Common | SOLE |
| 45784P101 | PODD | INSULET CORP | $2.1M | 0.13% | 7,500 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP | $2.1M | 0.13% | 9,286 | Common | SOLE |
| 103310108 | BGSI | BOYD GROUP SERVICES INC | $2.1M | 0.13% | 13,100 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $1.9M | 0.12% | 24,000 | Common | SOLE |
| 03990B101 | ARES | ARES MANAGEMENT CORPORATION | $1.8M | 0.11% | 11,090 | Common | SOLE |
| L8681T102 | SPOT | SPOTIFY TECHNOLOGY S A | $1.7M | 0.11% | 3,000 | Common | SOLE |
| 682680103 | OKE | ONEOK INC NEW | $1.7M | 0.11% | 23,570 | Common | SOLE |
| 464288638 | IGIB | ISHARES TR | $1.7M | 0.10% | 31,458 | Common | SOLE |
| 26875P101 | EOG | EOG RES INC | $1.6M | 0.10% | 15,470 | Common | SOLE |
| 375916103 | GIL | GILDAN ACTIVEWEAR INC | $1.4M | 0.09% | 23,100 | Common | SOLE |
| 533900106 | LECO | LINCOLN ELEC HLDGS INC | $1.4M | 0.09% | 5,900 | Common | SOLE |
| 136375102 | CNI | CANADIAN NATL RY CO | $1.4M | 0.09% | 14,150 | Common | SOLE |
| 136069101 | CM | CANADIAN IMPERIAL BANK OF CO | $1.4M | 0.08% | 15,140 | Common | SOLE |
| 70432V102 | PAYC | PAYCOM SOFTWARE INC | $1.4M | 0.08% | 8,525 | Common | SOLE |
| G7709Q104 | RPRX | ROYALTY PHARMA PLC | $1.4M | 0.08% | 35,000 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $1.3M | 0.08% | 25,232 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $1.3M | 0.08% | 7,550 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC CO | $1.2M | 0.08% | 9,400 | Common | SOLE |
| 921937835 | BND | VANGUARD BD INDEX FDS | $1.2M | 0.08% | 16,675 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $1.2M | 0.07% | 4,000 | Common | SOLE |
| 464288653 | TLH | ISHARES TR | $1.1M | 0.07% | 10,835 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $1.1M | 0.07% | 15,000 | Common | SOLE |
| 46435G474 | FALN | ISHARES TR | $1.1M | 0.06% | 38,800 | Common | SOLE |
| 46138G508 | BKLN | INVESCO EXCH TRADED FD TR II | $1.1M | 0.06% | 50,000 | Common | SOLE |
| 349553107 | FTS | FORTIS INC | $1.0M | 0.06% | 19,400 | Common | SOLE |
| 464288620 | USIG | ISHARES TR | $1.0M | 0.06% | 19,372 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $966,433 | 0.06% | 5,650 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $917,491 | 0.06% | 1,463 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $914,128 | 0.06% | 4,690 | Common | SOLE |
| 92189F106 | GDX | VANECK ETF TRUST | $895,439 | 0.05% | 10,440 | Common | SOLE |
| 808524862 | SCHO | SCHWAB STRATEGIC TR | $885,752 | 0.05% | 36,346 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORP | $852,500 | 0.05% | 10,000 | Common | SOLE |
| 084423102 | WRB | BERKLEY W R CORP | $824,962 | 0.05% | 11,765 | Common | SOLE |
| 14149Y108 | CAH | CARDINAL HEALTH INC | $822,000 | 0.05% | 4,000 | Common | SOLE |
| 962879102 | WPM | WHEATON PRECIOUS METALS CORP | $794,413 | 0.05% | 6,750 | Common | SOLE |
| 78468R606 | SPHY | SPDR SERIES TRUST | $778,885 | 0.05% | 32,906 | Common | SOLE |
| 683715106 | OTEX | OPEN TEXT CORP | $766,164 | 0.05% | 23,500 | Common | SOLE |
| 642045108 | AESI | ATLAS ENERGY SOLUTIONS INC | $754,542 | 0.05% | 80,100 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $700,892 | 0.04% | 12,797 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC | $686,706 | 0.04% | 14,342 | Common | SOLE |
| 15101Q207 | CLS | CELESTICA INC | $678,139 | 0.04% | 2,290 | Common | SOLE |
| 88636R834 | BTGD | TIDAL TRUST II | $617,700 | 0.04% | 17,993 | Common | SOLE |
| 923725105 | VET | VERMILION ENERGY INC | $560,674 | 0.03% | 67,313 | Common | SOLE |
| 31488V107 | FERG | FERGUSON ENTERPRISES INC | $499,804 | 0.03% | 2,245 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $452,653 | 0.03% | 27,400 | Common | SOLE |
| 888787108 | TOST | TOAST INC | $443,875 | 0.03% | 12,500 | Common | SOLE |
| 697900108 | PAAS | PAN AMERN SILVER CORP | $441,166 | 0.03% | 8,500 | Common | SOLE |
| 866796105 | SLF | SUN LIFE FINANCIAL INC. | $404,059 | 0.02% | 6,469 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $394,763 | 0.02% | 14,000 | Common | SOLE |
| 56501R106 | MFC | MANULIFE FINL CORP | $383,754 | 0.02% | 10,562 | Common | SOLE |
| 74935Q107 | RBA | RB GLOBAL INC | $381,348 | 0.02% | 3,700 | Common | SOLE |
| 78467V608 | SRLN | SSGA ACTIVE ETF TR | $343,531 | 0.02% | 8,324 | Common | SOLE |
| 26923G822 | PFFA | ETFIS SER TR I | $319,522 | 0.02% | 14,827 | Common | SOLE |
| 773903109 | ROK | ROCKWELL AUTOMATION INC | $309,700 | 0.02% | 796 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $293,999 | 0.02% | 6,620 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $285,302 | 0.02% | 1,052 | Common | SOLE |
| 464288687 | PFF | ISHARES TR | $235,915 | 0.01% | 7,620 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $226,193 | 0.01% | 450 | Common | SOLE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $223,905 | 0.01% | 8,843 | Common | SOLE |
| 775109200 | RCI | ROGERS COMMUNICATIONS INC | $223,596 | 0.01% | 5,920 | Common | SOLE |
| 570535104 | MKL | MARKEL GROUP INC | $214,965 | 0.01% | 100 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $200,404 | 0.01% | 831 | Common | SOLE |
| 87971M103 | TU | TELUS CORPORATION | $189,427 | 0.01% | 14,364 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.