Cumberland Partners Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Cumberland Partners Ltd reported 162 stock positions worth $1.5 billion. Its top holding was Microsoft (MSFT) at 6.1% of the portfolio, followed by Nvidia (NVDA, 4.7%) and Meta Platforms Class A (META, 4.4%). Compared with Q2 2025, it opened 24 new positions, sold out of 31, added to 67 and reduced 56. The biggest buy was Apple (AAPL, shares +205%) and the biggest sale Thomson Reuters (TRI, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001578985
- Portfolio Value
- $1.5B (Q3 2025)
- SEC Filing
- 0001104659-25-108486 ↗ filed Nov 7, 2025
Holdings Value
Holdings 162 stocks · $1.5B
| MSFT Microsoft Corp. | 6.13% | 181,031 | $93.8M | Add +4.5% |
| NVDA Nvidia Corp. | 4.73% | 387,928 | $72.4M | Reduce -0.4% |
| META Meta Platforms Inc. Class A | 4.41% | 91,840 | $67.4M | Add +7.4% |
| WMT Walmart Inc. | 4.19% | 621,774 | $64.1M | Reduce -14.7% |
| RY Royal Bank of Canada | 3.83% | 397,710 | $58.6M | Add +7.1% |
| AMZN Amazon.com Inc. | 3.78% | 263,505 | $57.9M | Add +16.8% |
| AAPL Apple Inc. | 3.33% | 200,179 | $51.0M | Add +205.1% |
| SPGI S&P Global Inc. | 3.06% | 96,246 | $46.8M | Reduce -1.9% |
| V Visa Inc. Class A | 3.04% | 136,471 | $46.6M | Add +0.4% |
| ETN Eaton Corp. PLC | 2.88% | 117,926 | $44.1M | Add +10.1% |
| GOOG Alphabet Inc. Class C | 2.72% | 170,934 | $41.6M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 2.62% | 43,303 | $40.1M | Reduce -11.7% |
| AVGO Broadcom Inc. | 2.50% | 115,922 | $38.2M | Reduce -35.1% |
| LIN Linde PLC | 2.27% | 72,996 | $34.7M | Reduce -0.9% |
| MA Mastercard Inc. Class A | 2.24% | 60,149 | $34.2M | Reduce -1.2% |
| CP Canadian Pacific Kansas City | 1.87% | 385,255 | $28.7M | Reduce -1.8% |
| MRSH Marsh & McLennan Cos | 1.76% | 133,918 | $27.0M | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 1.69% | 106,655 | $25.9M | Add +9.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.67% | 82,593 | $25.6M | Reduce -1.1% |
| HD Home Depot Inc. | 1.61% | 60,820 | $24.6M | Reduce -1.4% |
| LLY Eli Lilly & Co. | 1.59% | 31,875 | $24.3M | Reduce -12.9% |
| CRM Salesforce Inc. | 1.27% | 82,212 | $19.5M | Reduce -4.6% |
| ORLY O'reilly Automotive Inc. | 1.26% | 179,406 | $19.3M | Reduce -0.3% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.23% | 292,060 | $18.9M | Add +560.3% |
| APH Amphenol Corp. Class A | 1.23% | 152,417 | $18.9M | Add +123.4% |
| UNH Unitedhealth Group Inc. | 1.20% | 53,222 | $18.4M | New |
| STN Stantec Inc. | 1.14% | 161,734 | $17.4M | Reduce -6.1% |
| CCJ Cameco Corp. | 1.01% | 183,472 | $15.4M | Reduce -6.1% |
| JNJ Johnson & Johnson | 0.82% | 67,815 | $12.6M | Add +474.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.72% | 39,702 | $11.1M | Reduce -3.4% |
| NDAQ Nasdaq Inc. | 0.71% | 123,003 | $10.9M | Reduce -23.4% |
| ABBV Abbvie Inc. | 0.67% | 44,232 | $10.2M | Add +76.2% |
| TW Tradeweb Markets Inc. Class A | 0.66% | 91,271 | $10.1M | Add +283.8% |
| PM Philip Morris International | 0.66% | 61,950 | $10.0M | Reduce -2.5% |
| AZN Astrazeneca PLC-Spons ADR | 0.63% | 125,161 | $9.6M | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 0.61% | 137,305 | $9.4M | New |
| GE General Electric filed as GE AEROSPACE | 0.58% | 29,565 | $8.9M | Add +10.5% |
| HWM Howmet Aerospace Inc. | 0.57% | 44,670 | $8.8M | Reduce -6.1% |
| TD Toronto-Dominion Bank | 0.57% | 109,173 | $8.7M | Add +8.6% |
| AGI Alamos Gold Inc. Class A | 0.55% | 242,460 | $8.4M | Reduce -0.4% |
| PH Parker Hannifin Corp. | 0.53% | 10,661 | $8.1M | Add +0.5% |
| MCK McKesson Corp. | 0.53% | 10,440 | $8.1M | Reduce -34.0% |
| DE Deere & Co. | 0.51% | 16,981 | $7.8M | Add +68.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.49% | 65,088 | $7.5M | Add +189.1% |
| BLK BlackRock Inc. | 0.48% | 6,350 | $7.4M | Add +25.7% |
| GLD SPDR Gold Shares | 0.47% | 20,247 | $7.2M | Add +6.7% |
| BAM Brookfield Asset Mgmt-A | 0.47% | 126,015 | $7.2M | Add +78.0% |
| PGR Progressive Corp. | 0.46% | 28,270 | $7.0M | Reduce -25.3% |
| GRTUF Granite Real Estate Investme | 0.45% | 124,410 | $6.9M | Add +1.0% |
| ET Energy Transfer LP | 0.42% | 376,705 | $6.5M | No change |
| FSV Firstservice Corp. | 0.42% | 33,780 | $6.4M | Reduce -8.2% |
| VST Vistra Corp. | 0.40% | 31,525 | $6.2M | Add +103.4% |
| UBER Uber Technologies Inc. | 0.38% | 60,000 | $5.9M | Add +3.5% |
| MELI MercadoLibre Inc. | 0.38% | 2,500 | $5.8M | Add +19.1% |
| ARES Ares Management Corp. Class A | 0.38% | 36,170 | $5.8M | Add +61.0% |
| PBA Pembina Pipeline Corp. | 0.37% | 139,081 | $5.6M | Add +28.4% |
| CNQ Canadian Natural Resources | 0.37% | 175,625 | $5.6M | Add +14.8% |
| HBM Hudbay Minerals Inc. | 0.36% | 364,700 | $5.5M | No change |
| WSM Williams-Sonoma Inc. | 0.36% | 28,060 | $5.5M | New |
| INTU Intuit Inc. | 0.36% | 7,965 | $5.4M | New |
| DSGX The Descartes Systems Grp | 0.35% | 56,159 | $5.3M | Reduce -20.2% |
| ADSK Autodesk Inc. | 0.32% | 15,482 | $4.9M | Add +5.2% |
| AMAT Applied Materials Inc. | 0.31% | 23,515 | $4.8M | Reduce -70.6% |
| ORCL Oracle Corp. | 0.31% | 16,960 | $4.8M | Reduce -52.5% |
| TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN | 0.31% | 217,780 | $4.8M | Add +5.3% |
| VEEV Veeva Systems Inc. Class A | 0.30% | 15,500 | $4.6M | Add +24.0% |
| NTR Nutrien Ltd. | 0.30% | 78,050 | $4.6M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.29% | 30,527 | $4.4M | Add +5.1% |
| EUFN iShares MSCI Europe Financia | 0.29% | 127,435 | $4.4M | No change |
| CCEP Coca-Cola Europacific Partne | 0.28% | 47,920 | $4.3M | Add +90.6% |
| CDNS Cadence Design SYS Inc. | 0.28% | 12,251 | $4.3M | Add +0.0% |
| EXPE Expedia Group Inc. | 0.26% | 18,850 | $4.0M | Reduce -54.2% |
| JPM JPMorgan Chase & Co. | 0.26% | 12,514 | $3.9M | New |
| VRTX Vertex Pharmaceuticals Inc. | 0.25% | 9,744 | $3.8M | Reduce -79.1% |
| TMUS T-Mobile US Inc. | 0.25% | 15,895 | $3.8M | Add +189.0% |
| RMD Resmed Inc. | 0.23% | 13,000 | $3.6M | No change |
| AON Aon PLC Class A | 0.23% | 9,880 | $3.5M | No change |
| BKNG Booking Holdings Inc. | 0.23% | 650 | $3.5M | Add +30.0% |
| NFLX Netflix Inc. | 0.23% | 2,890 | $3.5M | Add +20.9% |
| KKR KKR & Co. Inc. | 0.22% | 25,791 | $3.4M | Add +816.2% |
| CTA Simplify Managed Futures St | 0.21% | 116,423 | $3.3M | Add +3.8% |
| MNST Monster Beverage Corp. | 0.21% | 47,782 | $3.2M | Add +289.0% |
| RJF Raymond James Financial Inc. | 0.21% | 18,600 | $3.2M | Add +104.4% |
| HCA HCA Healthcare Inc. | 0.21% | 7,500 | $3.2M | Add +25.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.19% | 55,735 | $2.9M | Reduce -34.0% |
| APP AppLovin Corp. Class A | 0.19% | 4,000 | $2.9M | No change |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.18% | 21,627 | $2.8M | Add +4.0% |
| DECK Deckers Outdoor Corp. | 0.18% | 27,778 | $2.8M | Reduce -0.2% |
| PODD Insulet Corp. | 0.18% | 9,000 | $2.8M | New |
| FTNT Fortinet Inc. | 0.18% | 32,500 | $2.7M | Reduce -18.8% |
| KLAC KLA Corp. | 0.18% | 2,500 | $2.7M | Add +42.9% |
| SII Sprott Inc. | 0.17% | 32,180 | $2.7M | New |
| EFA iShares MSCI Eafe ETF | 0.17% | 28,441 | $2.7M | Reduce -2.5% |
| DLTR Dollar Tree Inc. | 0.17% | 27,500 | $2.6M | New |
| VIK Viking Holdings Ltd. | 0.16% | 40,000 | $2.5M | Add +6.7% |
| PAYC Paycom Software Inc. | 0.16% | 11,525 | $2.4M | Reduce -17.8% |
| EME Emcor Group Inc. | 0.15% | 3,500 | $2.3M | Add +27.3% |
| RSG Republic Services Inc. | 0.15% | 9,800 | $2.2M | Add +11.4% |
| CME Cme Group Inc. | 0.14% | 8,200 | $2.2M | Add +720.0% |
| SHOP Shopify Inc. Class A | 0.14% | 14,470 | $2.1M | Reduce -0.2% |
Portfolio Sells Q2 2025 → Q3 2025
| TRI Thomson Reuters Corp. | Reduce -87.9% | 0.14% | −1.44 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -79.1% | 0.25% | −1.19 |
| AVGO Broadcom Inc. | Reduce -35.1% | 2.50% | −0.92 |
| WMT Walmart Inc. | Reduce -14.7% | 4.19% | −0.76 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.75 |
| COST Costco Wholesale Corp. | Reduce -11.7% | 2.62% | −0.75 |
| AMAT Applied Materials Inc. | Reduce -70.6% | 0.31% | −0.70 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.56 |
| SPGI S&P Global Inc. | Reduce -1.9% | 3.06% | −0.53 |
| MSI Motorola Solutions Inc. | Sold out | 0.00% | −0.49 |
| WCN Waste Connections Inc. | Reduce -82.9% | 0.07% | −0.39 |
| LLY Eli Lilly & Co. | Reduce -12.9% | 1.59% | −0.39 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.37 |
| CRM Salesforce Inc. | Reduce -4.6% | 1.27% | −0.36 |
| MRSH Marsh & McLennan Cos | Reduce -1.0% | 1.76% | −0.29 |
| CP Canadian Pacific Kansas City | Reduce -1.8% | 1.87% | −0.29 |
| NDAQ Nasdaq Inc. | Reduce -23.4% | 0.71% | −0.28 |
| BRK.B Berkshire Hathaway Inc. Class B | Sold out | 0.00% | −0.28 |
| MCK McKesson Corp. | Reduce -34.0% | 0.53% | −0.28 |
| PGR Progressive Corp. | Reduce -25.3% | 0.46% | −0.24 |
| ORCL Oracle Corp. | Reduce -52.5% | 0.31% | −0.23 |
| EXPE Expedia Group Inc. | Reduce -54.2% | 0.26% | −0.22 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.21 |
| ZTS Zoetis Inc. | Sold out | 0.00% | −0.19 |
| AJG Arthur J Gallagher & Co. | Reduce -1.1% | 1.67% | −0.18 |
| NVR NVR Inc. | Sold out | 0.00% | −0.18 |
| KNSL Kinsale Capital Group Inc. | Sold out | 0.00% | −0.18 |
| ACGL Arch Capital Group Ltd. | Sold out | 0.00% | −0.17 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −0.17 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.16 |
| STN Stantec Inc. | Reduce -6.1% | 1.14% | −0.16 |
| CHE Chemed Corp. | Sold out | 0.00% | −0.15 |
| MSCI MSCI Inc. | Reduce -50.0% | 0.13% | −0.15 |
| DSGX The Descartes Systems Grp | Reduce -20.2% | 0.35% | −0.15 |
| PM Philip Morris International | Reduce -2.5% | 0.66% | −0.15 |
| MA Mastercard Inc. Class A | Reduce -1.2% | 2.24% | −0.14 |
| BRO Brown & Brown Inc. | Sold out | 0.00% | −0.13 |
| SLF Sun Life Financial Inc. | Reduce -80.8% | 0.03% | −0.13 |
| LIN Linde PLC | Reduce -0.9% | 2.27% | −0.13 |
| NOA North American Construction | Sold out | 0.00% | −0.12 |
| FTNT Fortinet Inc. | Reduce -18.8% | 0.18% | −0.11 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.11 |
| FMX Fomento Economico Mex-SP ADR | Sold out | 0.00% | −0.11 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.10 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.09 |
| BAC Bank of America Corp. | Reduce -34.0% | 0.19% | −0.09 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.09 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.08 |
| PAYX Paychex Inc. | Sold out | 0.00% | −0.07 |
| PAYC Paycom Software Inc. | Reduce -17.8% | 0.16% | −0.07 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +205.1% | 3.33% | +2.40 |
| UNH Unitedhealth Group Inc. | New | 1.20% | +1.20 |
| BNS Bank of Nova Scotia | Add +560.3% | 1.23% | +1.06 |
| APH Amphenol Corp. Class A | Add +123.4% | 1.23% | +0.77 |
| JNJ Johnson & Johnson | Add +474.7% | 0.82% | +0.70 |
| CSCO Cisco Systems Inc. | New | 0.61% | +0.61 |
| GOOGL Alphabet Inc. Class A | Add +9.4% | 1.69% | +0.50 |
| RY Royal Bank of Canada | Add +7.1% | 3.83% | +0.44 |
| TW Tradeweb Markets Inc. Class A | Add +283.8% | 0.66% | +0.42 |
| WSM Williams-Sonoma Inc. | New | 0.36% | +0.36 |
| INTU Intuit Inc. | New | 0.36% | +0.36 |
| AMZN Amazon.com Inc. | Add +16.8% | 3.78% | +0.35 |
| ABBV Abbvie Inc. | Add +76.2% | 0.67% | +0.35 |
| NTR Nutrien Ltd. | New | 0.30% | +0.30 |
| DIS The Walt Disney Co. | Add +189.1% | 0.49% | +0.29 |
| JPM JPMorgan Chase & Co. | New | 0.26% | +0.26 |
| ETN Eaton Corp. PLC | Add +10.1% | 2.88% | +0.23 |
| BAM Brookfield Asset Mgmt-A | Add +78.0% | 0.47% | +0.20 |
| VST Vistra Corp. | Add +103.4% | 0.40% | +0.20 |
| KKR KKR & Co. Inc. | Add +816.2% | 0.22% | +0.19 |
| PODD Insulet Corp. | New | 0.18% | +0.18 |
| SII Sprott Inc. | New | 0.17% | +0.17 |
| DLTR Dollar Tree Inc. | New | 0.17% | +0.17 |
| TMUS T-Mobile US Inc. | Add +189.0% | 0.25% | +0.16 |
| MNST Monster Beverage Corp. | Add +289.0% | 0.21% | +0.16 |
| MSFT Microsoft Corp. | Add +4.5% | 6.13% | +0.15 |
| DE Deere & Co. | Add +68.0% | 0.51% | +0.15 |
| DELL Dell Technologies -C | New | 0.13% | +0.13 |
| FERG Ferguson Enterprises Inc. | New | 0.13% | +0.13 |
| CME Cme Group Inc. | Add +720.0% | 0.14% | +0.13 |
| CCEP Coca-Cola Europacific Partne | Add +90.6% | 0.28% | +0.12 |
| BLK BlackRock Inc. | Add +25.7% | 0.48% | +0.12 |
| RJF Raymond James Financial Inc. | Add +104.4% | 0.21% | +0.11 |
| ARES Ares Management Corp. Class A | Add +61.0% | 0.38% | +0.11 |
| COF Capital One Financial Corp. | New | 0.10% | +0.10 |
| GE General Electric | Add +10.5% | 0.58% | +0.10 |
| DG Dollar General Corp. | New | 0.10% | +0.10 |
| IBKR Interactive Brokers Gro Class A | New | 0.10% | +0.10 |
| CCK Crown Holdings Inc. | Add +300.0% | 0.13% | +0.09 |
| PBA Pembina Pipeline Corp. | Add +28.4% | 0.37% | +0.09 |
| GLD SPDR Gold Shares | Add +6.7% | 0.47% | +0.07 |
| KLAC KLA Corp. | Add +42.9% | 0.18% | +0.07 |
| WTS Watts Water Technologies-A | Add +116.7% | 0.12% | +0.07 |
| CAH Cardinal Health Inc. | New | 0.06% | +0.06 |
| DKNG Draftkings Inc. Class A | New | 0.06% | +0.06 |
| LDOS Leidos Holdings Inc. | Add +66.7% | 0.12% | +0.06 |
| TD Toronto-Dominion Bank | Add +8.6% | 0.57% | +0.06 |
| GDX Vaneck Gold Miners ETF | New | 0.05% | +0.05 |
| VEEV Veeva Systems Inc. Class A | Add +24.0% | 0.30% | +0.05 |
| HCA HCA Healthcare Inc. | Add +25.0% | 0.21% | +0.05 |
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 |