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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Cumberland Partners Ltd

Quarter ended Q4 2024 · Filed February 3, 2025 · Accession 0001104659-25-008295

Total Value
$1.43B
Positions
259
Other Managers
2
Confidential Omitted
No
View on SEC.gov

Holdings (259)

#IssuerTicker / CUSIPSharesValue% of Filing
1MICROSOFT CORPMSFT129,269$54.5M3.80%
2WALMART INCWMT572,794$51.8M3.61%
3META PLATFORMS INCMETA84,424$49.4M3.45%
4ALPHABET INCGOOG233,907$44.5M3.11%
5EATON CORP PLCETN120,132$39.9M2.78%
6APPLE INCAAPL137,865$34.5M2.41%
7VISA INCV107,009$33.8M2.36%
8S&P GLOBAL INCSPGI66,631$33.2M2.31%
9AMAZON COM INCAMZN148,655$32.6M2.27%
10COSTCO WHSL CORP NEW22160K10535,323$32.4M2.26%
11ROYAL BK CDA780087102260,494$31.3M2.19%
12BROADCOM INCAVGO121,112$28.1M1.96%
13CANADIAN NATL RY CO136375102272,815$27.6M1.93%
14CANADIAN PACIFIC KANSAS CITYCP352,540$25.5M1.78%
15MARSH & MCLENNAN COS INC571748102115,327$24.5M1.71%
16LINDE PLCLIN53,474$22.4M1.56%
17TFI INTL INC87241L109164,837$22.2M1.55%
18MICROSOFT CORPMSFT51,098$21.5M1.50%
19HOME DEPOT INCHD54,113$21.0M1.47%
20MASTERCARD INCORPORATEDMA38,428$20.2M1.41%
21GALLAGHER ARTHUR J & CO36357610969,258$19.7M1.37%
22EATON CORP PLCETN58,880$19.5M1.36%
23THOMSON REUTERS CORPTMSOF114,936$18.4M1.28%
24VERTEX PHARMACEUTICALS INCVRTX41,467$16.7M1.16%
25WALMART INCWMT184,756$16.7M1.16%
26S&P GLOBAL INCSPGI31,792$15.8M1.10%
27META PLATFORMS INCMETA26,610$15.6M1.09%
28CADENCE DESIGN SYSTEM INCCDNS46,709$14.0M0.98%
29ROYAL BK CDA780087102112,766$13.6M0.95%
30ALPHABET INCGOOG69,945$13.2M0.92%
31THERMO FISHER SCIENTIFIC INCTMO25,184$13.1M0.91%
32APPLIED MATLS INC03822210578,611$12.8M0.89%
33MASTERCARD INCORPORATEDMA24,000$12.6M0.88%
34VISA INCV39,638$12.5M0.87%
35ELI LILLY & COLLY15,894$12.3M0.86%
36NVIDIA CORPORATIONNVDA88,333$11.9M0.83%
37OREILLY AUTOMOTIVE INC67103H1079,687$11.5M0.80%
38COSTCO WHSL CORP NEW22160K10512,267$11.2M0.78%
39AMAZON COM INCAMZN50,112$11.0M0.77%
40BROADCOM INCAVGO45,318$10.5M0.73%
41NASDAQ INCNDAQ134,160$10.4M0.72%
42BLACKROCK INCBLK10,005$10.3M0.72%
43BOOZ ALLEN HAMILTON HLDG CORBAH78,575$10.1M0.71%
44HOME DEPOT INCHD25,495$9.9M0.69%
45HOWMET AEROSPACE INCHWM88,475$9.7M0.67%
46UNITEDHEALTH GROUP INCUNH19,038$9.6M0.67%
47TAIWAN SEMICONDUCTOR MFG LTD87403910047,805$9.4M0.66%
48ARES MANAGEMENT CORPORATIONARES-PB51,515$9.1M0.64%
49CAMECO CORPCCJ174,275$9.0M0.62%
50MOTOROLA SOLUTIONS INCMSI19,235$8.9M0.62%
51LINDE PLCLIN20,967$8.8M0.61%
52STANTEC INCSTN109,365$8.6M0.60%
53DIGITAL RLTY TR INC25386810346,595$8.3M0.58%
54UNITEDHEALTH GROUP INCUNH15,992$8.1M0.56%
55ALPHABET INCGOOG41,018$7.8M0.54%
56PHILIP MORRIS INTL INC71817210962,825$7.6M0.53%
57ENERGY TRANSFER L PET-PI366,705$7.2M0.50%
58NVIDIA CORPORATIONNVDA50,951$6.8M0.48%
59GALLAGHER ARTHUR J & CO36357610923,719$6.7M0.47%
60FIRSTSERVICE CORP NEWFSV36,500$6.6M0.46%
61DESCARTES SYS GROUP INC24990610858,000$6.6M0.46%
62ALPHABET INCGOOG30,923$5.9M0.41%
63SIMPLIFY EXCHANGE TRADED FUN82889N863278,499$5.8M0.40%
64EASTMAN CHEM COEMN63,125$5.8M0.40%
65ELI LILLY & COLLY7,379$5.7M0.40%
66ORACLE CORPORCL-PD32,450$5.4M0.38%
67GRANITE REAL ESTATE INVT TR387437205111,200$5.4M0.38%
68ALAMOS GOLD INC NEWAGI271,200$5.0M0.35%
69MARSH & MCLENNAN COS INC57174810223,380$5.0M0.35%
70THERMO FISHER SCIENTIFIC INCTMO9,511$4.9M0.35%
71ACCENTURE PLC IRELANDACN13,125$4.6M0.32%
72MCKESSON CORPMCK7,920$4.5M0.31%
73CARRIER GLOBAL CORPORATIONCARR65,465$4.5M0.31%
74APPLIED MATLS INC03822210526,912$4.4M0.31%
75ROYAL BK CDA78008710235,900$4.3M0.30%
76SIMPLIFY EXCHANGE TRADED FUN82889N657198,202$4.2M0.29%
77WASTE CONNECTIONS INCWCN24,140$4.1M0.29%
78BERKSHIRE HATHAWAY INC DELBRK-A8,775$4.0M0.28%
79MERCADOLIBRE INCMELI2,300$3.9M0.27%
80TORONTO DOMINION BK ONTTORO73,151$3.9M0.27%
81CAMECO CORPCCJ71,850$3.7M0.26%
82SALESFORCE INCCRM11,000$3.7M0.26%
83APPLE INCAAPL14,399$3.6M0.25%
84WIX COM LTDWIX16,500$3.5M0.25%
85PARKER-HANNIFIN CORPPH5,488$3.5M0.24%
86DANAHER CORPORATION23585110215,007$3.4M0.24%
87ABBVIE INCABBV18,905$3.4M0.23%
88PARKER-HANNIFIN CORPPH5,248$3.3M0.23%
89MSCI INCMSCI5,500$3.3M0.23%
90ATLAS ENERGY SOLUTIONS INCAESI139,900$3.1M0.22%
91TOLL BROTHERS INCTOL24,050$3.0M0.21%
92AIRBNB INCABNB23,000$3.0M0.21%
93UBER TECHNOLOGIES INCUBER50,000$3.0M0.21%
94RESMED INCRSMDF13,000$3.0M0.21%
95HUDBAY MINERALS INCHBM364,700$3.0M0.21%
96OREILLY AUTOMOTIVE INC67103H1072,491$3.0M0.21%
97DECKERS OUTDOOR CORPDECK14,526$3.0M0.21%
98ADOBE INCADBE6,524$2.9M0.20%
99CANADIAN NAT RES LTD13638510192,408$2.8M0.20%
100FORTINET INCFTNT30,000$2.8M0.20%
101NASDAQ INCNDAQ35,835$2.8M0.19%
102NETFLIX INCNFLX3,100$2.8M0.19%
103VEEVA SYS INCVEEV13,000$2.7M0.19%
104PEPSICO INCPEP17,955$2.7M0.19%
105DECKERS OUTDOOR CORPDECK13,367$2.7M0.19%
106JOHNSON & JOHNSONJNJ18,200$2.6M0.18%
107TFI INTL INC87241L10919,475$2.6M0.18%
108CANADIAN PACIFIC KANSAS CITYCP36,290$2.6M0.18%
109TRADEWEB MKTS INC89267210620,000$2.6M0.18%
110ELECTRONIC ARTS INCEA17,372$2.5M0.18%
111NOVO-NORDISK A SNONOF29,000$2.5M0.17%
112MARKETAXESS HLDGS INCMKTX11,000$2.5M0.17%
113BANK AMERICA CORP06050510456,485$2.5M0.17%
114AMPHENOL CORP NEW03209510135,501$2.5M0.17%
115BANK NOVA SCOTIA HALIFAX06414910745,683$2.4M0.17%
116ARCH CAP GROUP LTDG0450A10526,250$2.4M0.17%
117ALPHABET INCGOOG12,670$2.4M0.17%
118VANGUARD SCOTTSDALE FDS92206C40930,650$2.4M0.17%
119NORTH AMERN CONSTR GROUP LTD656811106110,100$2.4M0.17%
120VERTEX PHARMACEUTICALS INCVRTX5,859$2.4M0.16%
121AMPHENOL CORP NEW03209510133,946$2.4M0.16%
122REPUBLIC SVCS INC76075910011,700$2.4M0.16%
123GODADDY INCGDDY11,500$2.3M0.16%
124SOUTHERN COPPER CORPSCCO24,683$2.2M0.16%
125PEGASYSTEMS INCPEGA24,000$2.2M0.16%
126BLACKSTONE INCBX12,500$2.2M0.15%
127DOCEBO INCDCBO47,700$2.1M0.15%
128TRANE TECHNOLOGIES PLCTT5,765$2.1M0.15%
129EMERSON ELEC COEMR17,050$2.1M0.15%
130APPLOVIN CORPAPP6,500$2.1M0.15%
131HILTON WORLDWIDE HLDGS INCHLT8,500$2.1M0.15%
132KINSALE CAP GROUP INC49714P1084,500$2.1M0.15%
133ICON PLCICLR9,910$2.1M0.14%
134PFIZER INCPFE76,600$2.0M0.14%
135PEMBINA PIPELINE CORPPPLOF54,700$2.0M0.14%
136CANADIAN NAT RES LTD13638510164,245$2.0M0.14%
137SPDR GOLD TRGLD8,085$2.0M0.14%
138VISA INCV6,005$1.9M0.13%
139BOOKING HOLDINGS INCBKNG375$1.9M0.13%
140GENTEX CORPGNTX64,820$1.9M0.13%
141CME GROUP INCCME8,000$1.9M0.13%
142PEMBINA PIPELINE CORPPPLOF50,380$1.9M0.13%
143MONSTER BEVERAGE CORP NEWMNST33,500$1.8M0.12%
144ORACLE CORPORCL-PD10,550$1.8M0.12%
145PAYCOM SOFTWARE INCPAYC8,500$1.7M0.12%
146FOMENTO ECONOMICO MEXICANO S34441910620,000$1.7M0.12%
147CANADIAN IMPERIAL BK COMMCNDIF26,600$1.7M0.12%
148SPOTIFY TECHNOLOGY S ASPOT3,750$1.7M0.12%
149DOMINOS PIZZA INCDPZ3,750$1.6M0.11%
150PROGRESSIVE CORP7433151036,555$1.6M0.11%
151NVR INCNVR190$1.6M0.11%
152PAYCHEX INCPAYX11,000$1.5M0.11%
153ZOETIS INCZTS9,200$1.5M0.10%
154PAYPAL HLDGS INCPYPL17,535$1.5M0.10%
155BERKLEY W R CORPWRB-PH25,000$1.5M0.10%
156INTERNATIONAL BUSINESS MACHSINTR6,510$1.4M0.10%
157DESCARTES SYS GROUP INC24990610812,527$1.4M0.10%
158RAYMOND JAMES FINL INC7547301098,700$1.4M0.09%
159BERKLEY W R CORPWRB-PH23,035$1.3M0.09%
160BANK MONTREAL QUE06367110113,902$1.3M0.09%
161BOOZ ALLEN HAMILTON HLDG CORBAH10,455$1.3M0.09%
162BOOZ ALLEN HAMILTON HLDG CORBAH10,300$1.3M0.09%
163TEXAS PACIFIC LAND CORPORATITPL1,150$1.3M0.09%
164RYAN SPECIALTY HOLDINGS INCRYAN19,000$1.2M0.09%
165ISHARES TR46435G47445,200$1.2M0.08%
166VANGUARD BD INDEX FDS92193783516,655$1.2M0.08%
167SIMPLIFY EXCHANGE TRADED FUN82889N86356,649$1.2M0.08%
168FORTIS INCFTRSF27,900$1.2M0.08%
169EMCOR GROUP INCEME2,500$1.1M0.08%
170ELECTRONIC ARTS INCEA7,500$1.1M0.08%
171STANTEC INCSTN13,500$1.1M0.07%
172INVESCO EXCH TRADED FD TR IIIVZ50,000$1.1M0.07%
173ENBRIDGE INCENNPF24,600$1.0M0.07%
174COMCAST CORP NEWCCZ27,500$1.0M0.07%
175SCHWAB STRATEGIC TR80852486240,830$982,3700.07%
176EPAM SYS INCEPAM4,000$935,2800.07%
177LINCOLN ELEC HLDGS INC5339001064,900$918,6030.06%
178SPDR GOLD TRGLD3,700$895,8810.06%
179ASML HOLDING N VASMLF1,250$866,3500.06%
180FACTSET RESH SYS INC3030751051,750$840,4900.06%
181KLA CORPKLAC1,300$819,1560.06%
182VANGUARD INDEX FDS9229083631,463$788,2790.05%
183CORPAY INCCPAY2,000$676,8400.05%
184UNITED THERAPEUTICS CORP DELUTHR1,900$670,3960.05%
185WARNER BROS DISCOVERY INCWBD60,420$638,6390.04%
186CANADIAN NATL RY CO1363751026,300$638,3040.04%
187INTUITINTU1,000$628,5000.04%
188ENBRIDGE INCENNPF13,864$587,1010.04%
189ISHARES TR46428864610,965$566,8910.04%
190CARLISLE COS INC1423391001,500$553,2600.04%
191SELECT SECTOR SPDR TR81369Y60511,261$544,2440.04%
192NETFLIX INCNFLX610$543,7050.04%
193ISHARES TR4642886389,135$470,5440.03%
194AVERY DENNISON CORPAVY2,171$406,2590.03%
195SUN LIFE FINANCIAL INC.SUNFF6,846$405,5680.03%
196VANGUARD BD INDEX FDS9219378355,565$400,1790.03%
197CADENCE DESIGN SYSTEM INCCDNS1,218$365,9600.03%
198TIDAL TR II88636J81615,000$358,5000.03%
199ADOBE INCADBE796$353,9650.02%
200TESLA INCTSLA874$352,9560.02%
201TIDAL TR II88636J20415,000$348,6000.02%
202CANADIAN IMPERIAL BK COMMCNDIF5,437$343,1550.02%
203IQVIA HLDGS INCIQV1,684$330,9230.02%
204WASTE CONNECTIONS INCWCN1,900$325,7820.02%
205ISHARES TR4642886206,380$320,7860.02%
206CANADIAN PACIFIC KANSAS CITYCP4,200$303,9470.02%
207ASTRAZENECA PLCAZN4,392$287,7640.02%
208CELESTICA INCCLS3,100$285,9450.02%
209SUN LIFE FINANCIAL INC.SUNFF4,700$278,9220.02%
210CAMECO CORPCCJ5,400$277,5090.02%
211PROGRESSIVE CORP7433151031,125$269,5610.02%
212ISHARES TR4642886532,620$260,7950.02%
213VANGUARD BD INDEX FDS9219378273,345$258,4680.02%
214ISHARES TR4642886204,590$230,7850.02%
215GILDAN ACTIVEWEAR INCGIL4,900$230,4860.02%
216BROOKFIELD INFRAST PARTNERSG162521017,192$228,0340.02%
217SPDR SER TR78468R4088,970$226,4930.02%
218RB GLOBAL INCRBA2,500$225,5250.02%
219ROGERS COMMUNICATIONS INCRCIAF7,280$223,2950.02%
220CGI INCGIB2,000$218,7180.02%
221TAIWAN SEMICONDUCTOR MFG LTD8740391001,087$214,6720.01%
222UNITED RENTALS INCURI300$211,3320.01%
223AMETEK INCAME1,121$202,0710.01%
224STANTEC INCSTN2,425$190,1780.01%
225TELUS CORPORATIONTU13,424$181,6010.01%
226TRANE TECHNOLOGIES PLCTT410$151,4340.01%
227ARCH CAP GROUP LTDG0450A1051,430$132,0610.01%
228NETFLIX INCNFLX147$131,0240.01%
229ICON PLCICLR560$117,4380.01%
230SCHWAB STRATEGIC TR8085248624,640$111,6380.01%
231ISHARES TR4642886382,165$111,5190.01%
232ISHARES TR4642886462,105$108,8290.01%
233ALAMOS GOLD INC NEWAGI5,800$106,9500.01%
234ABBVIE INCABBV477$84,7630.01%
235THOMSON REUTERS CORPTMSOF457$73,2170.01%
236FIRSTSERVICE CORP NEWFSV360$65,1790.00%
237CELESTICA INCCLS700$64,5680.00%
238GRANITE REAL ESTATE INVT TR3874372051,300$63,0570.00%
239VANGUARD SCOTTSDALE FDS92206C409800$62,4080.00%
240NOVO-NORDISK A SNONOF679$58,4080.00%
241ISHARES TR464288653550$54,7470.00%
242VANGUARD BD INDEX FDS921937827660$50,9980.00%
243SELECT SECTOR SPDR TR81369Y605890$43,0140.00%
244INTERNATIONAL BUSINESS MACHSINTR175$38,4700.00%
245SALESFORCE INCCRM100$33,4330.00%
246CGI INCGIB210$22,9570.00%
247EMERSON ELEC COEMR150$18,5900.00%
248AVERY DENNISON CORPAVY94$17,5900.00%
249DESCARTES SYS GROUP INC249906108143$16,2450.00%
250PEPSICO INCPEP100$15,2060.00%
251MONSTER BEVERAGE CORP NEWMNST282$14,8220.00%
252IQVIA HLDGS INCIQV75$14,7380.00%
253JOHNSON & JOHNSONJNJ100$14,4620.00%
254ASTRAZENECA PLCAZN219$14,3490.00%
255AMETEK INCAME34$6,1290.00%
256UNITED RENTALS INCURI8$5,6360.00%
257AIRBNB INCABNB40$5,2560.00%
258PAYCOM SOFTWARE INCPAYC25$5,1240.00%
259SIMPLIFY EXCHANGE TRADED FUN82889N657180$3,8200.00%