Cumberland Partners Ltd
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 9, 2024), Cumberland Partners Ltd reported 187 stock positions worth $1.4 billion. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Eaton (ETN, 4.2%) and Meta Platforms Class A (META, 3.8%). Compared with Q4 2023, it opened 41 new positions, sold out of 32, added to 60 and reduced 78. The biggest buy was Walmart (WMT, shares +715%) and the biggest sale an exit from General Motors (GM).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001578985
- Portfolio Value
- $1.4B (Q1 2024)
- SEC Filing
- 0001104659-24-059410 ↗ filed May 9, 2024
Holdings Value
Holdings 187 stocks · $1.4B
| MSFT Microsoft Corp. | 5.73% | 187,246 | $78.8M | Add +7.2% |
| ETN Eaton Corp. PLC | 4.22% | 185,791 | $58.1M | Reduce -4.7% |
| META Meta Platforms Inc. Class A | 3.79% | 107,443 | $52.2M | Reduce -12.6% |
| GOOG Alphabet Inc. Class C | 3.15% | 284,738 | $43.4M | Add +2.6% |
| SPGI S&P Global Inc. | 3.12% | 100,944 | $42.9M | Add +5.3% |
| V Visa Inc. Class A | 3.10% | 152,709 | $42.6M | Reduce -0.1% |
| RY Royal Bank of Canada | 2.90% | 395,787 | $39.9M | Add +10.7% |
| CP Canadian Pacific Kansas City | 2.80% | 436,095 | $38.5M | Reduce -1.2% |
| COST Costco Wholesale Corp. | 2.68% | 50,377 | $36.9M | Reduce -8.4% |
| WMT Walmart Inc. | 2.59% | 592,936 | $35.7M | Add +714.7% |
| CNI Canadian Natl Railway Co. | 2.59% | 270,516 | $35.6M | Add +11.9% |
| LIN Linde PLC | 2.57% | 76,042 | $35.3M | Add +0.9% |
| TRI Thomson Reuters Corp. | 2.48% | 219,246 | $34.1M | Reduce -4.2% |
| AMZN Amazon.com Inc. | 2.37% | 180,827 | $32.6M | Add +739.1% |
| TFII Tfi International Inc. | 2.37% | 203,990 | $32.5M | Add +133.1% |
| UNH Unitedhealth Group Inc. | 2.26% | 62,891 | $31.1M | Reduce -12.2% |
| HD Home Depot Inc. | 2.20% | 78,952 | $30.3M | Add +72.7% |
| TMO Thermo Fisher Scientific Inc. | 2.14% | 50,737 | $29.5M | Add +1.8% |
| MRSH Marsh & McLennan Cos | 2.14% | 142,911 | $29.4M | Reduce -0.4% |
| MA Mastercard Inc. Class A | 2.09% | 59,681 | $28.7M | Add +164.7% |
| AAPL Apple Inc. | 2.09% | 167,563 | $28.7M | Add +7.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.74% | 95,797 | $24.0M | Reduce -0.2% |
| AMAT Applied Materials Inc. | 1.70% | 113,290 | $23.4M | Reduce -0.3% |
| ACN Accenture PLC Class A | 1.66% | 65,785 | $22.8M | Add +2.8% |
| GOOGL Alphabet Inc. Class A | 1.58% | 144,393 | $21.8M | Add +14.3% |
| RCI Rogers Communications Inc. Class B | 1.51% | 508,394 | $20.8M | Reduce -29.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.44% | 154,354 | $19.8M | Add +65.1% |
| ADI Analog Devices Inc. | 1.18% | 81,885 | $16.2M | Add +0.4% |
| ORLY O'reilly Automotive Inc. | 1.07% | 13,064 | $14.7M | Add +1909.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.89% | 29,387 | $12.3M | New |
| CCJ Cameco Corp. | 0.85% | 270,764 | $11.7M | Reduce -5.9% |
| BLK BlackRock Finance Inc. | 0.83% | 13,764 | $11.5M | Add +7.9% |
| ELV Elevance Health Inc. | 0.70% | 18,607 | $9.6M | Reduce -36.9% |
| AVGO Broadcom Inc. | 0.69% | 7,140 | $9.5M | Reduce -5.3% |
| CNQ Canadian Natural Resources | 0.61% | 109,635 | $8.4M | Reduce -1.1% |
| ARES Ares Management Corp. Class A | 0.61% | 62,665 | $8.3M | Reduce -13.7% |
| TOL Toll Brothers Inc. | 0.60% | 63,765 | $8.2M | Reduce -28.0% |
| HWM Howmet Aerospace Inc. | 0.54% | 108,298 | $7.4M | Reduce -6.4% |
| AVY Avery Dennison Corp. | 0.51% | 31,335 | $7.0M | Add +2.1% |
| SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC | 0.50% | 121,535 | $6.9M | Reduce -23.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.47% | 47,563 | $6.5M | Reduce -6.5% |
| SBUX Starbucks Corp. | 0.46% | 68,703 | $6.3M | Add +389.5% |
| PH Parker Hannifin Corp. | 0.45% | 11,185 | $6.2M | Reduce -0.3% |
| MCK McKesson Corp. | 0.45% | 11,535 | $6.2M | Add +5.8% |
| DSGX The Descartes Systems Grp | 0.44% | 66,250 | $6.1M | Reduce -8.9% |
| CARR Carrier Global Corp. | 0.44% | 104,140 | $6.1M | Add +3.8% |
| FSV Firstservice Corp. | 0.44% | 36,500 | $6.0M | No change |
| GNTX Gentex Corp. | 0.43% | 164,110 | $5.9M | Reduce -11.1% |
| SVOL Simplify Volatility Premium | 0.43% | 259,029 | $5.9M | Reduce -28.2% |
| ET Energy Transfer LP | 0.42% | 366,705 | $5.8M | New |
| BAH Booz Allen Hamilton Holdings | 0.40% | 37,055 | $5.5M | Reduce -8.5% |
| LLY Eli Lilly & Co. | 0.39% | 6,832 | $5.3M | Reduce -14.9% |
| TD Toronto-Dominion Bank | 0.38% | 86,718 | $5.2M | Reduce -26.7% |
| FERG Ferguson Jersey Ltd. | 0.38% | 23,740 | $5.2M | Reduce -14.5% |
| ABBV Abbvie Inc. | 0.38% | 28,452 | $5.2M | New |
| AGI Alamos Gold Inc. Class A | 0.37% | 346,947 | $5.1M | Reduce -8.2% |
| ABNB Airbnb Inc. Class A | 0.35% | 29,040 | $4.8M | Add +26.0% |
| MSI Motorola Solutions Inc. | 0.34% | 13,045 | $4.6M | Reduce -14.2% |
| A Agilent Technologies Inc. | 0.33% | 31,490 | $4.6M | New |
| GRP.U Granite Real Estate Investme | 0.33% | 79,657 | $4.6M | Add +4.0% |
| DECK Deckers Outdoor Corp. | 0.33% | 4,830 | $4.5M | Reduce -44.9% |
| YUM Yum! Brands Inc. | 0.32% | 32,145 | $4.5M | Reduce -0.3% |
| HBM Hudbay Minerals Inc. | 0.32% | 635,575 | $4.5M | Reduce -7.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.29% | 51,800 | $4.0M | Add +30.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.29% | 4,102 | $4.0M | Add +2.0% |
| WCN Waste Connections Inc. | 0.29% | 23,045 | $4.0M | Reduce -25.3% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.29% | 76,530 | $4.0M | Reduce -29.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 9,344 | $3.9M | Add +16.5% |
| AON Aon PLC Class A | 0.28% | 11,391 | $3.8M | Reduce -68.7% |
| SCCO Southern Copper Corp. | 0.27% | 35,125 | $3.7M | Add +55.3% |
| DHR Danaher Corp. | 0.26% | 14,468 | $3.6M | Add +7.5% |
| CRM Salesforce Inc. | 0.24% | 11,100 | $3.3M | No change |
| MCD McDonald's Corp. | 0.24% | 11,766 | $3.3M | Add +54.9% |
| PBA Pembina Pipeline Corp. | 0.23% | 90,926 | $3.2M | Reduce -38.0% |
| NOA North American Construction | 0.23% | 143,500 | $3.2M | Reduce -31.1% |
| ICLR Icon PLC | 0.23% | 9,285 | $3.1M | Add +76.9% |
| ENB Enbridge Inc. | 0.23% | 85,671 | $3.1M | Reduce -15.3% |
| DLR Digital Realty Trust Inc. | 0.22% | 21,400 | $3.1M | Add +54.0% |
| STAG Stag Industrial Inc. | 0.21% | 76,680 | $2.9M | Add +55.3% |
| VTRS Viatris Inc. | 0.20% | 235,250 | $2.8M | New |
| CVS CVS Health Corp. | 0.20% | 34,469 | $2.7M | Reduce -5.3% |
| TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN | 0.20% | 124,037 | $2.7M | Add +77.2% |
| APO Apollo Global Management Inc. | 0.19% | 23,000 | $2.6M | Reduce -4.2% |
| MELI MercadoLibre Inc. | 0.19% | 1,700 | $2.6M | Add +30.8% |
| ADBE Adobe Inc. | 0.19% | 5,050 | $2.5M | Add +25.0% |
| GLD SPDR Gold Shares | 0.18% | 12,185 | $2.5M | Reduce -11.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.18% | 64,935 | $2.5M | Reduce -6.7% |
| CMCSA Comcast Corp. Class A | 0.17% | 55,500 | $2.4M | Add +41.3% |
| PEP Pepsico Inc. | 0.17% | 13,342 | $2.3M | Add +6.3% |
| FMX Fomento Economico Mex-SP ADR | 0.16% | 16,500 | $2.1M | Add +26.9% |
| WIX Wix.com Ltd. | 0.14% | 14,000 | $1.9M | Add +55.6% |
| HLT Hilton Worldwide Holdings Inc. | 0.14% | 9,000 | $1.9M | Reduce -25.0% |
| NVR NVR Inc. | 0.13% | 225 | $1.8M | Reduce -10.0% |
| AZO AutoZone Inc. | 0.13% | 575 | $1.8M | Add +53.3% |
| CPAY Corpay Inc. | 0.13% | 5,750 | $1.8M | Add +64.3% |
| CME Cme Group Inc. | 0.13% | 8,000 | $1.7M | New |
| RSG Republic Services Inc. | 0.12% | 8,700 | $1.7M | Reduce -26.9% |
| CSCO Cisco Systems Inc. | 0.12% | 33,068 | $1.7M | Add +87.9% |
| BND Vanguard Total Bond Market | 0.12% | 22,515 | $1.6M | Reduce -6.8% |
| CAH Cardinal Health Inc. | 0.12% | 14,537 | $1.6M | Add +51.1% |
Options reported separately and not counted above: GLD calls ($2.1M).
Portfolio Sells Q4 2023 → Q1 2024
| GM General Motors Co. | Sold out | 0.00% | −1.16 |
| UNH Unitedhealth Group Inc. | Reduce -12.2% | 2.26% | −1.08 |
| RCI Rogers Communications Inc. Class B | Reduce -29.2% | 1.51% | −1.04 |
| ORCL Oracle Corp. | Sold out | 0.00% | −1.00 |
| AON Aon PLC Class A | Reduce -68.7% | 0.28% | −0.76 |
| ELV Elevance Health Inc. | Reduce -36.9% | 0.70% | −0.49 |
| MRSH Marsh & McLennan Cos | Reduce -0.4% | 2.14% | −0.36 |
| SVOL Simplify Volatility Premium | Reduce -28.2% | 0.43% | −0.32 |
| SPHB Invesco S&P 500 High Beta Et | Reduce -76.3% | 0.08% | −0.31 |
| KEYS Keysight Technologies Inc. | Sold out | 0.00% | −0.30 |
| TD Toronto-Dominion Bank | Reduce -26.7% | 0.38% | −0.28 |
| AJG Arthur J Gallagher & Co. | Reduce -0.2% | 1.74% | −0.26 |
| CCJ Cameco Corp. | Reduce -5.9% | 0.85% | −0.26 |
| VWO Vanguard Ftse Emerging Marke | Sold out | 0.00% | −0.25 |
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −0.25 |
| LOW Lowe's Cos Inc. | Sold out | 0.00% | −0.24 |
| SGI Somnigroup International Inc. | Reduce -23.8% | 0.50% | −0.24 |
| DE Deere & Co. | Sold out | 0.00% | −0.23 |
| COST Costco Wholesale Corp. | Reduce -8.4% | 2.68% | −0.22 |
| TOL Toll Brothers Inc. | Reduce -28.0% | 0.60% | −0.22 |
| CP Canadian Pacific Kansas City | Reduce -1.2% | 2.80% | −0.22 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.21 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.19 |
| ARES Ares Management Corp. Class A | Reduce -13.7% | 0.61% | −0.18 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.18 |
| V Visa Inc. Class A | Reduce -0.1% | 3.10% | −0.17 |
| PBA Pembina Pipeline Corp. | Reduce -38.0% | 0.23% | −0.17 |
| NOA North American Construction | Reduce -31.1% | 0.23% | −0.17 |
| BNS Bank of Nova Scotia | Reduce -29.6% | 0.29% | −0.16 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.15 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.15 |
| BCE Bce Inc. | Reduce -64.7% | 0.05% | −0.15 |
| XPEL Xpel Inc. | Sold out | 0.00% | −0.14 |
| WCN Waste Connections Inc. | Reduce -25.3% | 0.29% | −0.14 |
| DSGX The Descartes Systems Grp | Reduce -8.9% | 0.44% | −0.12 |
| GNTX Gentex Corp. | Reduce -11.1% | 0.43% | −0.12 |
| MSCI MSCI Inc. | Reduce -48.1% | 0.09% | −0.11 |
| BMO Bank of Montreal | Reduce -47.8% | 0.09% | −0.11 |
| STN Stantec Inc. | Sold out | 0.00% | −0.11 |
| TRI Thomson Reuters Corp. | Reduce -4.2% | 2.48% | −0.11 |
| ENB Enbridge Inc. | Reduce -15.3% | 0.23% | −0.10 |
| MSI Motorola Solutions Inc. | Reduce -14.2% | 0.34% | −0.10 |
| CAE Cae Inc. | Sold out | 0.00% | −0.10 |
| AGI Alamos Gold Inc. Class A | Reduce -8.2% | 0.37% | −0.10 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.09 |
| DECK Deckers Outdoor Corp. | Reduce -44.9% | 0.33% | −0.09 |
| FICO Fair Isaac Corp. | Sold out | 0.00% | −0.09 |
| AVGO Broadcom Inc. | Reduce -5.3% | 0.69% | −0.07 |
| BAH Booz Allen Hamilton Holdings | Reduce -8.5% | 0.40% | −0.07 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2023 → Q1 2024
| WMT Walmart Inc. | Add +714.7% | 2.59% | +2.24 |
| AMZN Amazon.com Inc. | Add +739.1% | 2.37% | +2.10 |
| TFII Tfi International Inc. | Add +133.1% | 2.37% | +1.33 |
| MA Mastercard Inc. Class A | Add +164.7% | 2.09% | +1.21 |
| ORLY O'reilly Automotive Inc. | Add +1909.8% | 1.07% | +1.02 |
| HD Home Depot Inc. | Add +72.7% | 2.20% | +0.90 |
| VRTX Vertex Pharmaceuticals Inc. | New | 0.89% | +0.89 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +65.1% | 1.44% | +0.66 |
| MSFT Microsoft Corp. | Add +7.2% | 5.73% | +0.53 |
| ET Energy Transfer LP | New | 0.42% | +0.42 |
| ABBV Abbvie Inc. | New | 0.38% | +0.38 |
| SBUX Starbucks Corp. | Add +389.5% | 0.46% | +0.33 |
| A Agilent Technologies Inc. | New | 0.33% | +0.33 |
| VTRS Viatris Inc. | New | 0.20% | +0.20 |
| CNI Canadian Natl Railway Co. | Add +11.9% | 2.59% | +0.17 |
| CME Cme Group Inc. | New | 0.13% | +0.13 |
| MNST Monster Beverage Corp. | New | 0.11% | +0.11 |
| SCCO Southern Copper Corp. | Add +55.3% | 0.27% | +0.09 |
| ICLR Icon PLC | Add +76.9% | 0.23% | +0.09 |
| GDDY GoDaddy Inc. Class A | New | 0.09% | +0.09 |
| APP AppLovin Corp. Class A | New | 0.08% | +0.08 |
| QCOM Qualcomm Inc. | New | 0.08% | +0.08 |
| LULU Lululemon Athletica Inc. | New | 0.08% | +0.08 |
| WFG West Fraser Timber Co. Ltd. | New | 0.07% | +0.07 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.0% | 0.29% | +0.07 |
| CNC Centene Corp. | New | 0.07% | +0.07 |
| BDX Becton Dickinson and Co. | New | 0.07% | +0.07 |
| FTNT Fortinet Inc. | New | 0.07% | +0.07 |
| ROST Ross Stores Inc. | New | 0.07% | +0.07 |
| ABNB Airbnb Inc. Class A | Add +26.0% | 0.35% | +0.06 |
| FISV Fiserv Inc. | New | 0.06% | +0.06 |
| AIT Applied Industrial Tech Inc. | New | 0.06% | +0.06 |
| JNJ Johnson & Johnson | New | 0.06% | +0.06 |
| DLR Digital Realty Trust Inc. | Add +54.0% | 0.22% | +0.05 |
| VOO Vanguard S&P 500 ETF | New | 0.05% | +0.05 |
| CRESCENT PT ENERGY CORP | New | 0.05% | +0.05 |
| ADP Automatic Data Processing | New | 0.05% | +0.05 |
| TUA Sim St Treas Fut Strat ETF | Add +77.2% | 0.20% | +0.05 |
| DCI Donaldson Co. Inc. | New | 0.05% | +0.05 |
| SAIC Science Applications Inte | New | 0.05% | +0.05 |
| AEM Agnico Eagle Mines Ltd. | New | 0.05% | +0.05 |
| PAYX Paychex Inc. | New | 0.04% | +0.04 |
| GSK GSK PLC-Spon ADR | Add +80.0% | 0.11% | +0.04 |
| CBOE Cboe Global Markets Inc. | Add +166.7% | 0.08% | +0.04 |
| AZO AutoZone Inc. | Add +53.3% | 0.13% | +0.04 |
| CASY Casey's General Stores Inc. | Add +88.9% | 0.10% | +0.04 |
| EXP Eagle Materials Inc. | New | 0.04% | +0.04 |
| MCD McDonald's Corp. | Add +54.9% | 0.24% | +0.04 |
| CSCO Cisco Systems Inc. | Add +87.9% | 0.12% | +0.04 |
| WIX Wix.com Ltd. | Add +55.6% | 0.14% | +0.04 |
Options Activity Q4 2023 → Q1 2024
| GLD SPDR Gold Shares | call | New | 10,000 | $2.1M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 153 | $1.5B | RY, NVDA, MSFT, AMZN, GOOG |
| Q1 2026 | 157 | $1.3B | NVDA, RY, MSFT, AMZN, WMT |
| Q4 2025 | 172 | $1.6B | MSFT, NVDA, WMT, RY, META |
| Q3 2025 | 162 | $1.5B | MSFT, NVDA, META, WMT, RY |
| Q2 2025 | 169 | $1.4B | MSFT, WMT, META, NVDA, SPGI |
| Q1 2025 | 168 | $1.3B | MSFT, WMT, V, META, SPGI |
| Q4 2024 | 164 | $1.4B | MSFT, WMT, META, ETN, GOOG |
| Q3 2024 | 178 | $1.4B | MSFT, META, WMT, ETN, RY |
| Q2 2024 | 169 | $1.4B | MSFT, META, ETN, GOOG, WMT |
| Q1 2024 | 187 | $1.4B | MSFT, ETN, META, GOOG, SPGI |