Cumberland Partners Ltd
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 5, 2024), Cumberland Partners Ltd reported 178 stock positions worth $1.4 billion. Its top holding was Microsoft (MSFT) at 5.3% of the portfolio, followed by Meta Platforms Class A (META, 4.5%) and Walmart (WMT, 4.3%). Compared with Q2 2024, it opened 30 new positions, sold out of 21, added to 70 and reduced 61. The biggest buy was Walmart (WMT, shares +17%) and the biggest sale an exit from Novo-Nordisk A/S-Spons ADR (NVO).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001578985
- Portfolio Value
- $1.4B (Q3 2024)
- SEC Filing
- 0001104659-24-114380 ↗ filed Nov 5, 2024
Holdings Value
Holdings 178 stocks · $1.4B
| MSFT Microsoft Corp. | 5.33% | 178,339 | $76.7M | Add +0.3% |
| META Meta Platforms Inc. Class A | 4.49% | 113,023 | $64.7M | Reduce -5.7% |
| WMT Walmart Inc. | 4.30% | 767,827 | $62.0M | Add +16.7% |
| ETN Eaton Corp. PLC | 3.83% | 166,357 | $55.1M | Reduce -4.2% |
| RY Royal Bank of Canada | 3.54% | 408,530 | $51.0M | Add +1.3% |
| SPGI S&P Global Inc. | 3.52% | 98,160 | $50.7M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 3.20% | 276,031 | $46.1M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 2.94% | 47,732 | $42.3M | Reduce -2.5% |
| V Visa Inc. Class A | 2.90% | 151,902 | $41.8M | Reduce -1.8% |
| CP Canadian Pacific Kansas City | 2.58% | 433,902 | $37.1M | Reduce -1.1% |
| UNH Unitedhealth Group Inc. | 2.47% | 60,974 | $35.7M | Add +19.0% |
| AAPL Apple Inc. | 2.47% | 152,558 | $35.5M | Reduce -0.4% |
| LIN Linde PLC | 2.47% | 74,528 | $35.5M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 2.37% | 182,888 | $34.1M | Add +1.4% |
| CNI Canadian Natl Railway Co. | 2.27% | 278,413 | $32.6M | Add +6.3% |
| HD Home Depot Inc. | 2.18% | 77,374 | $31.4M | Reduce -4.8% |
| MRSH Marsh & McLennan Cos | 2.16% | 139,483 | $31.1M | Reduce -0.7% |
| MA Mastercard Inc. Class A | 2.11% | 61,549 | $30.4M | Add +0.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.82% | 93,371 | $26.3M | Reduce -0.3% |
| TFII Tfi International Inc. | 1.75% | 183,381 | $25.1M | Reduce -0.4% |
| AMAT Applied Materials Inc. | 1.57% | 111,695 | $22.6M | Add +2.3% |
| TMO Thermo Fisher Scientific Inc. | 1.49% | 34,768 | $21.5M | Reduce -29.6% |
| VRTX Vertex Pharmaceuticals Inc. | 1.39% | 43,200 | $20.1M | Add +50.7% |
| TRI Thomson Reuters Corp. | 1.37% | 115,580 | $19.7M | Reduce -45.8% |
| LLY Eli Lilly & Co. | 1.35% | 21,984 | $19.5M | Add +173.4% |
| GOOGL Alphabet Inc. Class A | 1.32% | 114,996 | $19.1M | Reduce -12.8% |
| AVGO Broadcom Inc. | 1.19% | 99,558 | $17.2M | Add +35.3% |
| NVDA Nvidia Corp. | 1.10% | 130,755 | $15.9M | Add +817.6% |
| BLK BlackRock Finance Inc. | 1.00% | 15,246 | $14.5M | Reduce -1.0% |
| ORLY O'reilly Automotive Inc. | 0.97% | 12,164 | $14.0M | Reduce -0.4% |
| CCJ Cameco Corp. | 0.91% | 274,843 | $13.1M | Add +1.5% |
| NDAQ Nasdaq Inc. | 0.72% | 142,444 | $10.4M | New |
| MSI Motorola Solutions Inc. | 0.72% | 22,945 | $10.3M | Add +26.7% |
| ELV Elevance Health Inc. | 0.70% | 19,396 | $10.1M | Add +0.8% |
| STN Stantec Inc. | 0.63% | 112,200 | $9.0M | Add +1013.6% |
| DSGX The Descartes Systems Grp | 0.61% | 85,903 | $8.8M | Add +3.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.59% | 48,892 | $8.5M | Add +3.7% |
| BAH Booz Allen Hamilton Holdings | 0.58% | 51,675 | $8.4M | Add +39.5% |
| ARES Ares Management Corp. Class A | 0.56% | 51,515 | $8.0M | Reduce -21.9% |
| CDNS Cadence Design SYS Inc. | 0.55% | 29,053 | $7.9M | Add +0.6% |
| DLR Digital Realty Trust Inc. | 0.52% | 46,595 | $7.5M | Add +207.3% |
| HWM Howmet Aerospace Inc. | 0.52% | 75,020 | $7.5M | Reduce -25.2% |
| SVOL Simplify Volatility Premium | 0.49% | 322,944 | $7.1M | Add +7.2% |
| ICLR Icon PLC | 0.49% | 24,495 | $7.0M | Add +44.2% |
| PH Parker Hannifin Corp. | 0.47% | 10,744 | $6.8M | Reduce -2.1% |
| PM Philip Morris International | 0.47% | 55,860 | $6.8M | Add +458.6% |
| CARR Carrier Global Corp. | 0.47% | 83,725 | $6.7M | Reduce -8.1% |
| FSV Firstservice Corp. | 0.47% | 36,840 | $6.7M | Add +0.2% |
| AVY Avery Dennison Corp. | 0.46% | 30,054 | $6.6M | Reduce -1.4% |
| ET Energy Transfer LP | 0.41% | 366,705 | $5.9M | No change |
| MCK McKesson Corp. | 0.41% | 11,830 | $5.8M | Add +12.3% |
| EMN Eastman Chemical Co. | 0.40% | 51,535 | $5.8M | No change |
| GRP.U Granite Real Estate Investme | 0.39% | 92,800 | $5.6M | Add +7.8% |
| ABBV Abbvie Inc. | 0.38% | 27,997 | $5.5M | Reduce -34.7% |
| CNQ Canadian Natural Resources | 0.38% | 166,294 | $5.5M | Reduce -20.9% |
| AGI Alamos Gold Inc. Class A | 0.38% | 275,400 | $5.5M | Add +0.1% |
| ADI Analog Devices Inc. | 0.37% | 23,024 | $5.3M | Reduce -71.6% |
| ACGL Arch Capital Group Ltd. | 0.35% | 45,480 | $5.1M | Add +9.9% |
| TD Toronto-Dominion Bank | 0.34% | 77,551 | $4.9M | Add +9.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.32% | 5,532 | $4.6M | Reduce -40.9% |
| WCN Waste Connections Inc. | 0.32% | 25,740 | $4.6M | Add +6.6% |
| APH Amphenol Corp. Class A | 0.31% | 69,330 | $4.5M | Add +1423.7% |
| DECK Deckers Outdoor Corp. | 0.31% | 28,143 | $4.5M | Reduce -1.4% |
| TOL Toll Brothers Inc. | 0.31% | 28,795 | $4.4M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 9,367 | $4.3M | Reduce -1.0% |
| TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN | 0.29% | 184,105 | $4.2M | Add +48.5% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.29% | 76,030 | $4.1M | Add +0.6% |
| NFLX Netflix Inc. | 0.28% | 5,780 | $4.1M | Add +59.7% |
| DHR Danaher Corp. | 0.28% | 14,317 | $4.0M | Reduce -1.0% |
| PBA Pembina Pipeline Corp. | 0.27% | 95,847 | $4.0M | Add +1.6% |
| CRM Salesforce Inc. | 0.27% | 14,100 | $3.9M | Reduce -6.6% |
| HBM Hudbay Minerals Inc. | 0.27% | 414,700 | $3.8M | Reduce -0.4% |
| ABNB Airbnb Inc. Class A | 0.26% | 30,040 | $3.8M | Reduce -6.2% |
| MELI MercadoLibre Inc. | 0.26% | 1,800 | $3.7M | Reduce -10.0% |
| WIX Wix.com Ltd. | 0.22% | 19,000 | $3.2M | Add +18.8% |
| PEP Pepsico Inc. | 0.21% | 18,055 | $3.1M | Add +15.0% |
| AMT American Tower Corp. | 0.21% | 12,928 | $3.0M | New |
| ACN Accenture PLC Class A | 0.20% | 8,065 | $2.9M | Reduce -70.0% |
| SCCO Southern Copper Corp. | 0.20% | 24,532 | $2.8M | Reduce -57.4% |
| GLD SPDR Gold Shares | 0.19% | 11,085 | $2.7M | Add +31.4% |
| GSK GSK PLC-Spon ADR | 0.18% | 62,500 | $2.6M | No change |
| AESI Atlas Energy Solutions Inc. | 0.18% | 116,300 | $2.5M | No change |
| JNJ Johnson & Johnson | 0.17% | 15,450 | $2.5M | Add +117.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.17% | 31,450 | $2.5M | Reduce -35.8% |
| APP AppLovin Corp. Class A | 0.17% | 19,000 | $2.5M | Reduce -13.6% |
| HON Honeywell International Inc. | 0.16% | 11,000 | $2.3M | New |
| TW Tradeweb Markets Inc. Class A | 0.15% | 18,000 | $2.2M | Add +28.6% |
| NVR NVR Inc. | 0.15% | 225 | $2.2M | Reduce -6.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.15% | 54,985 | $2.2M | Reduce -4.6% |
| ALSN Allison Transmission Holding | 0.15% | 22,500 | $2.2M | No change |
| RSG Republic Services Inc. | 0.15% | 10,650 | $2.1M | Add +10.9% |
| AZO AutoZone Inc. | 0.15% | 675 | $2.1M | Reduce -6.9% |
| BKNG Booking Holdings Inc. | 0.15% | 500 | $2.1M | Add +25.0% |
| HLT Hilton Worldwide Holdings Inc. | 0.14% | 9,000 | $2.1M | Reduce -18.2% |
| FMX Fomento Economico Mex-SP ADR | 0.14% | 21,000 | $2.1M | Add +10.5% |
| NOA North American Construction | 0.14% | 110,100 | $2.1M | Reduce -23.3% |
| FTNT Fortinet Inc. | 0.14% | 26,500 | $2.1M | No change |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.14% | 33,102 | $2.0M | Add +152.5% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.14% | 35,035 | $2.0M | New |
| GNTX Gentex Corp. | 0.13% | 64,820 | $1.9M | Reduce -64.3% |
Portfolio Sells Q2 2024 → Q3 2024
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −1.55 |
| TRI Thomson Reuters Corp. | Reduce -45.8% | 1.37% | −1.24 |
| ADI Analog Devices Inc. | Reduce -71.6% | 0.37% | −0.98 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.84 |
| TMO Thermo Fisher Scientific Inc. | Reduce -29.6% | 1.49% | −0.49 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 3.20% | −0.48 |
| GOOGL Alphabet Inc. Class A | Reduce -12.8% | 1.32% | −0.42 |
| ACN Accenture PLC Class A | Reduce -70.0% | 0.20% | −0.40 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -40.9% | 0.32% | −0.38 |
| FERG Ferguson Jersey Ltd. | Sold out | 0.00% | −0.33 |
| GNTX Gentex Corp. | Reduce -64.3% | 0.13% | −0.31 |
| SCCO Southern Copper Corp. | Reduce -57.4% | 0.20% | −0.25 |
| SGI Somnigroup International Inc. | Sold out | 0.00% | −0.24 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.20 |
| TFII Tfi International Inc. | Reduce -0.4% | 1.75% | −0.20 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.20 |
| RCI Rogers Communications Inc. Class B | Reduce -89.7% | 0.02% | −0.19 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.16 |
| CNQ Canadian Natural Resources | Reduce -20.9% | 0.38% | −0.16 |
| ABBV Abbvie Inc. | Reduce -34.7% | 0.38% | −0.15 |
| ETN Eaton Corp. PLC | Reduce -4.2% | 3.83% | −0.13 |
| TGT Target Corp. | Sold out | 0.00% | −0.11 |
| CPAY Corpay Inc. | Sold out | 0.00% | −0.11 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -35.8% | 0.17% | −0.10 |
| BLDR Builders Firstsource Inc. | Sold out | 0.00% | −0.09 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.09 |
| ABNB Airbnb Inc. Class A | Reduce -6.2% | 0.26% | −0.09 |
| COST Costco Wholesale Corp. | Reduce -2.5% | 2.94% | −0.09 |
| MNST Monster Beverage Corp. | Sold out | 0.00% | −0.08 |
| ARES Ares Management Corp. Class A | Reduce -21.9% | 0.56% | −0.08 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.07 |
| CBOE Cboe Global Markets Inc. | Sold out | 0.00% | −0.07 |
| VRN Veren Inc. | Sold out | 0.00% | −0.07 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.07 |
| PSA Public Storage | Sold out | 0.00% | −0.06 |
| BSV Vanguard Short-Term Bond ETF | Reduce -73.2% | 0.02% | −0.06 |
| KNSL Kinsale Capital Group Inc. | Reduce -50.0% | 0.08% | −0.06 |
| NOA North American Construction | Reduce -23.3% | 0.14% | −0.06 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.06 |
| CSCO Cisco Systems Inc. | Reduce -40.9% | 0.10% | −0.06 |
| V Visa Inc. Class A | Reduce -1.8% | 2.90% | −0.05 |
| PCAR Paccar Inc. | Sold out | 0.00% | −0.05 |
| ENB Enbridge Inc. | Reduce -37.7% | 0.10% | −0.05 |
| HWM Howmet Aerospace Inc. | Reduce -25.2% | 0.52% | −0.04 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -18.2% | 0.14% | −0.03 |
| FALN iShares Fallen Angels ETF | Reduce -27.3% | 0.06% | −0.02 |
| AVY Avery Dennison Corp. | Reduce -1.4% | 0.46% | −0.02 |
| DECK Deckers Outdoor Corp. | Reduce -1.4% | 0.31% | −0.02 |
| TU Telus Corp. | Reduce -22.8% | 0.09% | −0.02 |
| BAC Bank of America Corp. | Reduce -4.6% | 0.15% | −0.02 |
Portfolio Buys Q2 2024 → Q3 2024
| WMT Walmart Inc. | Add +16.7% | 4.30% | +1.06 |
| NVDA Nvidia Corp. | Add +817.6% | 1.10% | +0.97 |
| LLY Eli Lilly & Co. | Add +173.4% | 1.35% | +0.82 |
| NDAQ Nasdaq Inc. | New | 0.72% | +0.72 |
| UNH Unitedhealth Group Inc. | Add +19.0% | 2.47% | +0.58 |
| STN Stantec Inc. | Add +1013.6% | 0.63% | +0.57 |
| RY Royal Bank of Canada | Add +1.3% | 3.54% | +0.42 |
| VRTX Vertex Pharmaceuticals Inc. | Add +50.7% | 1.39% | +0.42 |
| PM Philip Morris International | Add +458.6% | 0.47% | +0.40 |
| DLR Digital Realty Trust Inc. | Add +207.3% | 0.52% | +0.36 |
| AVGO Broadcom Inc. | Add +35.3% | 1.19% | +0.33 |
| APH Amphenol Corp. Class A | Add +1423.7% | 0.31% | +0.29 |
| AMT American Tower Corp. | New | 0.21% | +0.21 |
| MSI Motorola Solutions Inc. | Add +26.7% | 0.72% | +0.21 |
| BAH Booz Allen Hamilton Holdings | Add +39.5% | 0.58% | +0.17 |
| HON Honeywell International Inc. | New | 0.16% | +0.16 |
| MA Mastercard Inc. Class A | Add +0.9% | 2.11% | +0.15 |
| WRB WR Berkley Corp. | New | 0.14% | +0.14 |
| PLD Prologis Inc. | New | 0.11% | +0.11 |
| FIX Comfort Systems USA Inc. | New | 0.11% | +0.11 |
| NFLX Netflix Inc. | Add +59.7% | 0.28% | +0.11 |
| BX Blackstone Inc. | New | 0.11% | +0.11 |
| TUA Sim St Treas Fut Strat ETF | Add +48.5% | 0.29% | +0.10 |
| PEGA Pegasystems Inc. | New | 0.10% | +0.10 |
| MSCI MSCI Inc. | New | 0.10% | +0.10 |
| ICLR Icon PLC | Add +44.2% | 0.49% | +0.10 |
| JNJ Johnson & Johnson | Add +117.6% | 0.17% | +0.10 |
| CM Can Imperial BK of Commerce | Add +152.5% | 0.14% | +0.10 |
| ORCL Oracle Corp. | New | 0.10% | +0.10 |
| PYPL PayPal Holdings Inc. | New | 0.10% | +0.10 |
| SCHO Schwab Short-Term US Treas | New | 0.08% | +0.08 |
| AMD Advanced Micro Devices | New | 0.08% | +0.08 |
| GRP.U Granite Real Estate Investme | Add +7.8% | 0.39% | +0.08 |
| AXP American Express Co. | Add +175.0% | 0.10% | +0.07 |
| PGR Progressive Corp. | Add +116.7% | 0.11% | +0.07 |
| AGI Alamos Gold Inc. Class A | Add +0.1% | 0.38% | +0.07 |
| FSV Firstservice Corp. | Add +0.2% | 0.47% | +0.06 |
| RYAN Ryan Specialty Holdings Inc. | Add +120.0% | 0.10% | +0.06 |
| TD Toronto-Dominion Bank | Add +9.0% | 0.34% | +0.06 |
| GLD SPDR Gold Shares | Add +31.4% | 0.19% | +0.06 |
| EME Emcor Group Inc. | Add +60.0% | 0.12% | +0.05 |
| MKL Markel Group Inc. | Add +142.9% | 0.09% | +0.05 |
| PAYX Paychex Inc. | Add +62.5% | 0.12% | +0.05 |
| SBAC SBA Communications Corp. | New | 0.05% | +0.05 |
| ACGL Arch Capital Group Ltd. | Add +9.9% | 0.35% | +0.05 |
| TW Tradeweb Markets Inc. Class A | Add +28.6% | 0.15% | +0.05 |
| POWL Powell Industries Inc. | New | 0.04% | +0.04 |
| BNS Bank of Nova Scotia | Add +0.6% | 0.29% | +0.04 |
| MKTX Marketaxess Holdings Inc. | New | 0.04% | +0.04 |
| WIX Wix.com Ltd. | Add +18.8% | 0.22% | +0.04 |
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 |