Cumberland Partners Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Cumberland Partners Ltd reported 169 stock positions worth $1.4 billion. Its top holding was Microsoft (MSFT) at 6.0% of the portfolio, followed by Walmart (WMT, 4.9%) and Meta Platforms Class A (META, 4.4%). Compared with Q1 2025, it opened 35 new positions, sold out of 34, added to 49 and reduced 69. The biggest buy was Nvidia (NVDA, shares +22%) and the biggest sale Thermo Fisher Scientific (TMO, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001578985
- Portfolio Value
- $1.4B (Q2 2025)
- SEC Filing
- 0001104659-25-076298 ↗ filed Aug 12, 2025
Holdings Value
Holdings 169 stocks · $1.4B
| MSFT Microsoft Corp. | 5.97% | 173,204 | $86.2M | Reduce -1.2% |
| WMT Walmart Inc. | 4.94% | 729,170 | $71.3M | Reduce -0.8% |
| META Meta Platforms Inc. Class A | 4.38% | 85,495 | $63.1M | Reduce -3.1% |
| NVDA Nvidia Corp. | 4.27% | 389,648 | $61.6M | Add +21.5% |
| SPGI S&P Global Inc. | 3.59% | 98,102 | $51.7M | Add +1.1% |
| AMZN Amazon.com Inc. | 3.43% | 225,700 | $49.5M | Add +8.8% |
| AVGO Broadcom Inc. | 3.42% | 178,664 | $49.2M | Reduce -1.3% |
| RY Royal Bank of Canada | 3.39% | 371,191 | $48.9M | Reduce -6.2% |
| COST Costco Wholesale Corp. | 3.37% | 49,055 | $48.6M | Add +1.5% |
| V Visa Inc. Class A | 3.35% | 135,895 | $48.2M | Reduce -9.3% |
| ETN Eaton Corp. PLC | 2.65% | 107,093 | $38.2M | Reduce -1.8% |
| LIN Linde PLC | 2.40% | 73,678 | $34.6M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 2.37% | 60,876 | $34.2M | Add +0.6% |
| CP Canadian Pacific Kansas City | 2.16% | 392,406 | $31.2M | Add +3.5% |
| GOOG Alphabet Inc. Class C | 2.11% | 171,228 | $30.4M | Reduce -37.0% |
| MRSH Marsh & McLennan Cos | 2.05% | 135,232 | $29.6M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 1.98% | 36,602 | $28.5M | Add +3.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.85% | 83,494 | $26.7M | Reduce -9.4% |
| CRM Salesforce Inc. | 1.63% | 86,153 | $23.5M | Add +583.8% |
| TRI Thomson Reuters Corp. | 1.58% | 113,254 | $22.8M | Reduce -0.4% |
| HD Home Depot Inc. | 1.57% | 61,680 | $22.6M | Reduce -17.4% |
| VRTX Vertex Pharmaceuticals Inc. | 1.44% | 46,570 | $20.7M | Reduce -0.4% |
| STN Stantec Inc. | 1.30% | 172,163 | $18.7M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 1.19% | 97,489 | $17.2M | Reduce -17.9% |
| ORLY O'reilly Automotive Inc. | 1.12% | 179,961 | $16.2M | Reduce -0.7% |
| AMAT Applied Materials Inc. | 1.02% | 79,961 | $14.6M | Reduce -23.4% |
| CCJ Cameco Corp. | 1.01% | 195,432 | $14.5M | Reduce -11.2% |
| NDAQ Nasdaq Inc. | 1.00% | 160,530 | $14.4M | Reduce -0.3% |
| AAPL Apple Inc. | 0.93% | 65,615 | $13.5M | Reduce -1.2% |
| MCK McKesson Corp. | 0.80% | 15,820 | $11.6M | Add +12.4% |
| PM Philip Morris International | 0.80% | 63,545 | $11.6M | No change |
| CNI Canadian Natl Railway Co. | 0.75% | 104,438 | $10.9M | Add +0.7% |
| PGR Progressive Corp. | 0.70% | 37,849 | $10.1M | Add +88.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.65% | 41,102 | $9.3M | Reduce -9.9% |
| HWM Howmet Aerospace Inc. | 0.61% | 47,585 | $8.9M | Reduce -18.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.61% | 125,311 | $8.8M | Reduce -0.0% |
| ACN Accenture PLC Class A | 0.56% | 27,010 | $8.1M | Add +29.5% |
| ORCL Oracle Corp. | 0.54% | 35,695 | $7.8M | Reduce -18.5% |
| PH Parker Hannifin Corp. | 0.51% | 10,606 | $7.4M | Reduce -1.1% |
| TD Toronto-Dominion Bank | 0.51% | 100,558 | $7.4M | Add +31.1% |
| DSGX The Descartes Systems Grp | 0.50% | 70,409 | $7.1M | Reduce -0.1% |
| MSI Motorola Solutions Inc. | 0.49% | 16,895 | $7.1M | Reduce -4.2% |
| EXPE Expedia Group Inc. | 0.48% | 41,160 | $6.9M | Add +241.6% |
| GE General Electric filed as GE AEROSPACE | 0.48% | 26,765 | $6.9M | New |
| ET Energy Transfer LP | 0.47% | 376,705 | $6.8M | No change |
| APH Amphenol Corp. Class A | 0.47% | 68,229 | $6.7M | Reduce -1.7% |
| WCN Waste Connections Inc. | 0.47% | 35,960 | $6.7M | Add +49.0% |
| AGI Alamos Gold Inc. Class A | 0.45% | 243,360 | $6.5M | Reduce -11.1% |
| FSV Firstservice Corp. | 0.44% | 36,800 | $6.4M | Add +0.3% |
| GRTUF Granite Real Estate Investme | 0.43% | 123,210 | $6.2M | Add +0.8% |
| GLD SPDR Gold Shares | 0.40% | 18,970 | $5.8M | Reduce -7.5% |
| MELI MercadoLibre Inc. | 0.38% | 2,100 | $5.5M | No change |
| UBER Uber Technologies Inc. | 0.38% | 58,000 | $5.4M | Add +65.7% |
| DLR Digital Realty Trust Inc. | 0.37% | 31,010 | $5.4M | Reduce -33.4% |
| BLK BlackRock Inc. | 0.37% | 5,050 | $5.3M | Reduce -7.3% |
| DE Deere & Co. | 0.36% | 10,105 | $5.1M | New |
| CNQ Canadian Natural Resources | 0.33% | 152,947 | $4.8M | Reduce -4.5% |
| ABBV Abbvie Inc. | 0.32% | 25,102 | $4.7M | Add +6.6% |
| ADSK Autodesk Inc. | 0.32% | 14,720 | $4.6M | Reduce -28.0% |
| TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN | 0.32% | 206,803 | $4.6M | Add +0.3% |
| FTNT Fortinet Inc. | 0.29% | 40,000 | $4.2M | Add +33.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.28% | 8,392 | $4.1M | Reduce -1.5% |
| PBA Pembina Pipeline Corp. | 0.28% | 108,300 | $4.1M | Add +41.5% |
| MSCI MSCI Inc. | 0.28% | 7,000 | $4.0M | Add +21.7% |
| EUFN iShares MSCI Europe Financia | 0.28% | 127,435 | $4.0M | Add +3.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.28% | 84,435 | $4.0M | Add +49.5% |
| BAM Brookfield Asset Mgmt-A | 0.27% | 70,790 | $3.9M | Reduce -38.4% |
| ARES Ares Management Corp. Class A | 0.27% | 22,465 | $3.9M | Reduce -34.0% |
| HBM Hudbay Minerals Inc. | 0.27% | 364,700 | $3.9M | No change |
| CDNS Cadence Design SYS Inc. | 0.26% | 12,248 | $3.8M | Reduce -1.5% |
| VEEV Veeva Systems Inc. Class A | 0.25% | 12,500 | $3.6M | Add +8.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 29,045 | $3.6M | New |
| AON Aon PLC Class A | 0.24% | 9,880 | $3.5M | Add +1.5% |
| TW Tradeweb Markets Inc. Class A | 0.24% | 23,781 | $3.5M | Add +44.1% |
| RMD Resmed Inc. | 0.23% | 13,000 | $3.4M | Reduce -7.1% |
| PAYC Paycom Software Inc. | 0.23% | 14,025 | $3.2M | No change |
| NFLX Netflix Inc. | 0.22% | 2,390 | $3.2M | Reduce -18.7% |
| MCD McDonald's Corp. | 0.21% | 10,405 | $3.0M | New |
| VST Vistra Corp. | 0.21% | 15,500 | $3.0M | New |
| CTA Simplify Managed Futures St | 0.21% | 112,220 | $3.0M | Add +0.2% |
| BKNG Booking Holdings Inc. | 0.20% | 500 | $2.9M | Reduce -9.1% |
| DECK Deckers Outdoor Corp. | 0.20% | 27,839 | $2.9M | Reduce -0.5% |
| ZTS Zoetis Inc. | 0.19% | 18,000 | $2.8M | Add +500.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.19% | 22,518 | $2.8M | New |
| ADBE Adobe Inc. | 0.19% | 7,216 | $2.8M | Reduce -1.4% |
| EFA iShares MSCI Eafe ETF | 0.18% | 29,168 | $2.6M | New |
| NVR NVR Inc. | 0.18% | 350 | $2.6M | Add +133.3% |
| KNSL Kinsale Capital Group Inc. | 0.18% | 5,250 | $2.5M | New |
| ACGL Arch Capital Group Ltd. | 0.17% | 27,680 | $2.5M | No change |
| DPZ Domino's Pizza Inc. | 0.17% | 5,500 | $2.5M | New |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.17% | 44,231 | $2.4M | Reduce -0.3% |
| TPL Texas Pacific Land Corp. | 0.16% | 2,250 | $2.4M | Reduce -10.0% |
| CCEP Coca-Cola Europacific Partne | 0.16% | 25,140 | $2.3M | New |
| SLF Sun Life Financial Inc. | 0.16% | 34,686 | $2.3M | Add +12.2% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.16% | 20,801 | $2.3M | Add +53.5% |
| HCA HCA Healthcare Inc. | 0.16% | 6,000 | $2.3M | New |
| CHE Chemed Corp. | 0.15% | 4,500 | $2.2M | New |
| EMR Emerson Electric Co. | 0.15% | 16,350 | $2.2M | Add +18.9% |
| RSG Republic Services Inc. | 0.15% | 8,800 | $2.2M | Reduce -19.3% |
| SPOT Spotify Technology SA | 0.15% | 2,750 | $2.1M | Reduce -29.5% |
Portfolio Sells Q1 2025 → Q2 2025
| TMO Thermo Fisher Scientific Inc. | Reduce -97.5% | 0.02% | −1.30 |
| GOOG Alphabet Inc. Class C | Reduce -37.0% | 2.11% | −1.17 |
| V Visa Inc. Class A | Reduce -9.3% | 3.35% | −0.71 |
| AJG Arthur J Gallagher & Co. | Reduce -9.4% | 1.85% | −0.60 |
| HD Home Depot Inc. | Reduce -17.4% | 1.57% | −0.54 |
| MRSH Marsh & McLennan Cos | Reduce -0.7% | 2.05% | −0.51 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.32 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -0.4% | 1.44% | −0.31 |
| LIN Linde PLC | Reduce -0.3% | 2.40% | −0.26 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.24 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.24 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.23 |
| GOOGL Alphabet Inc. Class A | Reduce -17.9% | 1.19% | −0.23 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -72.2% | 0.09% | −0.22 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.21 |
| ORLY O'reilly Automotive Inc. | Reduce -0.7% | 1.12% | −0.21 |
| AAPL Apple Inc. | Reduce -1.2% | 0.93% | −0.20 |
| SPLV Invesco S&P 500 Low Volatili | Sold out | 0.00% | −0.19 |
| SVOL Simplify Volatility Premium | Sold out | 0.00% | −0.18 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.17 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.17 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.16 |
| BAM Brookfield Asset Mgmt-A | Reduce -38.4% | 0.27% | −0.16 |
| AMAT Applied Materials Inc. | Reduce -23.4% | 1.02% | −0.15 |
| WIX Wix.com Ltd. | Reduce -57.9% | 0.09% | −0.15 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.15 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.14 |
| DCBO Docebo Inc. | Sold out | 0.00% | −0.14 |
| DLR Digital Realty Trust Inc. | Reduce -33.4% | 0.37% | −0.14 |
| PODD Insulet Corp. | Sold out | 0.00% | −0.13 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.13 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.12 |
| BAH Booz Allen Hamilton Holdings | Sold out | 0.00% | −0.12 |
| AGI Alamos Gold Inc. Class A | Reduce -11.1% | 0.45% | −0.12 |
| ARES Ares Management Corp. Class A | Reduce -34.0% | 0.27% | −0.12 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.11 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -0.0% | 0.61% | −0.10 |
| MSI Motorola Solutions Inc. | Reduce -4.2% | 0.49% | −0.10 |
| ADSK Autodesk Inc. | Reduce -28.0% | 0.32% | −0.10 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.10 |
| TPL Texas Pacific Land Corp. | Reduce -10.0% | 0.16% | −0.09 |
| IDXX Idexx Laboratories Inc. | Sold out | 0.00% | −0.09 |
| UTHR United Therapeutics Corp. | Sold out | 0.00% | −0.08 |
| CPAY Corpay Inc. | Sold out | 0.00% | −0.08 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.08 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.07 |
| PAYX Paychex Inc. | Reduce -39.6% | 0.07% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.5% | 0.28% | −0.07 |
| AN Autonation Inc. | Sold out | 0.00% | −0.06 |
| JNJ Johnson & Johnson | Reduce -18.8% | 0.13% | −0.06 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +21.5% | 4.27% | +1.59 |
| CRM Salesforce Inc. | Add +583.8% | 1.63% | +1.37 |
| GE General Electric | New | 0.48% | +0.48 |
| AMZN Amazon.com Inc. | Add +8.8% | 3.43% | +0.39 |
| DE Deere & Co. | New | 0.36% | +0.36 |
| EXPE Expedia Group Inc. | Add +241.6% | 0.48% | +0.33 |
| PGR Progressive Corp. | Add +88.6% | 0.70% | +0.26 |
| TJX TJX Companies Inc. | New | 0.25% | +0.25 |
| MCD McDonald's Corp. | New | 0.21% | +0.21 |
| VST Vistra Corp. | New | 0.21% | +0.21 |
| DIS The Walt Disney Co. | New | 0.19% | +0.19 |
| EFA iShares MSCI Eafe ETF | New | 0.18% | +0.18 |
| UBER Uber Technologies Inc. | Add +65.7% | 0.38% | +0.18 |
| KNSL Kinsale Capital Group Inc. | New | 0.18% | +0.18 |
| DPZ Domino's Pizza Inc. | New | 0.17% | +0.17 |
| CCEP Coca-Cola Europacific Partne | New | 0.16% | +0.16 |
| HCA HCA Healthcare Inc. | New | 0.16% | +0.16 |
| TD Toronto-Dominion Bank | Add +31.1% | 0.51% | +0.16 |
| ZTS Zoetis Inc. | Add +500.0% | 0.19% | +0.16 |
| CHE Chemed Corp. | New | 0.15% | +0.15 |
| VIK Viking Holdings Ltd. | New | 0.14% | +0.14 |
| BRO Brown & Brown Inc. | New | 0.13% | +0.13 |
| CP Canadian Pacific Kansas City | Add +3.5% | 2.16% | +0.11 |
| KLAC KLA Corp. | New | 0.11% | +0.11 |
| ABT Abbott Laboratories | New | 0.11% | +0.11 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.11% | +0.11 |
| WCN Waste Connections Inc. | Add +49.0% | 0.47% | +0.10 |
| EME Emcor Group Inc. | New | 0.10% | +0.10 |
| NVR NVR Inc. | Add +133.3% | 0.18% | +0.10 |
| BAC Bank of America Corp. | Add +49.5% | 0.28% | +0.10 |
| SSNC Ss&c Technologies Holdings | New | 0.09% | +0.09 |
| ELV Elevance Health Inc. | New | 0.09% | +0.09 |
| TMUS T-Mobile US Inc. | New | 0.09% | +0.09 |
| MO Altria Group Inc. | New | 0.08% | +0.08 |
| MCK McKesson Corp. | Add +12.4% | 0.80% | +0.07 |
| FTNT Fortinet Inc. | Add +33.3% | 0.29% | +0.07 |
| LDOS Leidos Holdings Inc. | New | 0.07% | +0.07 |
| UPS United Parcel Service Class B | New | 0.07% | +0.07 |
| BMO Bank of Montreal | Add +53.5% | 0.16% | +0.06 |
| BUD Anheuser-Busch Inbev-SPN ADR | New | 0.06% | +0.06 |
| ACN Accenture PLC Class A | Add +29.5% | 0.56% | +0.06 |
| FTI Technipfmc PLC | Add +83.3% | 0.13% | +0.06 |
| MNST Monster Beverage Corp. | New | 0.05% | +0.05 |
| TW Tradeweb Markets Inc. Class A | Add +44.1% | 0.24% | +0.05 |
| WTS Watts Water Technologies-A | New | 0.05% | +0.05 |
| PBA Pembina Pipeline Corp. | Add +41.5% | 0.28% | +0.05 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +96.0% | 0.10% | +0.04 |
| VEEV Veeva Systems Inc. Class A | Add +8.7% | 0.25% | +0.04 |
| SFM Sprouts Farmers Market Inc. | New | 0.04% | +0.04 |
| CCK Crown Holdings Inc. | New | 0.04% | +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 |