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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 Q2 2025 · Filed August 12, 2025 · Accession 0001104659-25-076298

Total Value
$1.44B
Positions
268
Other Managers
2
Confidential Omitted
No
View on SEC.gov

Holdings (268)

#IssuerTicker / CUSIPSharesValue% of Filing
1MICROSOFT CORPMSFT126,182$62.8M4.35%
2WALMART INCWMT557,954$54.6M3.78%
3NVIDIA CORPORATIONNVDA316,322$50.0M3.47%
4META PLATFORMS INCMETA62,891$46.4M3.22%
5AMAZON COM INCAMZN182,595$40.1M2.78%
6VISA INCV98,599$35.0M2.43%
7COSTCO WHSL CORP NEW22160K10534,710$34.4M2.38%
8S&P GLOBAL INCSPGI64,899$34.2M2.37%
9ROYAL BK CDA780087102256,160$33.7M2.34%
10BROADCOM INCAVGO119,044$32.8M2.28%
11CANADIAN PACIFIC KANSAS CITYCP343,141$27.3M1.89%
12EATON CORP PLCETN71,718$25.6M1.78%
13ALPHABET INCGOOG143,034$25.4M1.76%
14LINDE PLCLIN52,726$24.7M1.72%
15MARSH & MCLENNAN COS INC571748102112,205$24.5M1.70%
16MICROSOFT CORPMSFT47,022$23.4M1.62%
17THOMSON REUTERS CORPTMSOF112,929$22.7M1.57%
18MASTERCARD INCORPORATEDMA37,315$21.0M1.45%
19GALLAGHER ARTHUR J & CO36357610964,665$20.7M1.44%
20ELI LILLY & COLLY25,155$19.6M1.36%
21HOME DEPOT INCHD53,247$19.5M1.35%
22SALESFORCE INCCRM67,113$18.3M1.27%
23VERTEX PHARMACEUTICALS INCVRTX40,886$18.2M1.26%
24S&P GLOBAL INCSPGI33,203$17.5M1.21%
25WALMART INCWMT171,216$16.7M1.16%
26META PLATFORMS INCMETA22,604$16.7M1.16%
27BROADCOM INCAVGO59,620$16.4M1.14%
28STANTEC INCSTN131,528$14.3M0.99%
29COSTCO WHSL CORP NEW22160K10514,345$14.2M0.98%
30MASTERCARD INCORPORATEDMA23,561$13.2M0.92%
31OREILLY AUTOMOTIVE INC67103H107143,181$12.9M0.89%
32EATON CORP PLCETN35,375$12.6M0.88%
33APPLIED MATLS INC03822210566,471$12.2M0.84%
34VISA INCV33,161$11.8M0.82%
35MCKESSON CORPMCK15,820$11.6M0.80%
36NVIDIA CORPORATIONNVDA73,326$11.6M0.80%
37PHILIP MORRIS INTL INC71817210963,545$11.6M0.80%
38ROYAL BK CDA78008710286,691$11.4M0.79%
39NASDAQ INCNDAQ126,285$11.3M0.78%
40APPLE INCAAPL52,606$10.8M0.75%
41ALPHABET INCGOOG58,900$10.4M0.72%
42CANADIAN NATL RY CO13637510298,023$10.2M0.71%
43LINDE PLCLIN20,952$9.8M0.68%
44AMAZON COM INCAMZN43,105$9.5M0.66%
45CAMECO CORPCCJ123,510$9.2M0.63%
46TAIWAN SEMICONDUCTOR MFG LTD87403910040,185$9.1M0.63%
47ELI LILLY & COLLY11,447$8.9M0.62%
48HOWMET AEROSPACE INCHWM47,585$8.9M0.61%
49ASTRAZENECA PLCAZN122,182$8.5M0.59%
50ACCENTURE PLC IRELANDACN27,010$8.1M0.56%
51ORACLE CORPORCL-PD35,695$7.8M0.54%
52MOTOROLA SOLUTIONS INCMSI16,895$7.1M0.49%
53EXPEDIA GROUP INCEXPE41,160$6.9M0.48%
54GE AEROSPACE36960430126,765$6.9M0.48%
55ENERGY TRANSFER L PET-PI376,705$6.8M0.47%
56FIRSTSERVICE CORP NEWFSV36,500$6.4M0.44%
57ALAMOS GOLD INC NEWAGI239,060$6.3M0.44%
58PROGRESSIVE CORP74331510323,635$6.3M0.44%
59GRANITE REAL ESTATE INVT TR387437205122,050$6.2M0.43%
60TORONTO DOMINION BK ONTTORO83,358$6.1M0.43%
61GALLAGHER ARTHUR J & CO36357610918,829$6.0M0.42%
62WASTE CONNECTIONS INCWCN31,960$6.0M0.41%
63DESCARTES SYS GROUP INC24990610858,000$5.9M0.41%
64MERCADOLIBRE INCMELI2,100$5.5M0.38%
65UBER TECHNOLOGIES INCUBER58,000$5.4M0.38%
66DIGITAL RLTY TR INC25386810331,010$5.4M0.37%
67BLACKROCK INCBLK5,050$5.3M0.37%
68ALPHABET INCGOOG29,219$5.1M0.36%
69SPDR GOLD TRGLD16,620$5.1M0.35%
70CAMECO CORPCCJ67,822$5.0M0.35%
71MARSH & MCLENNAN COS INC57174810223,027$5.0M0.35%
72ALPHABET INCGOOG28,194$5.0M0.35%
73ABBVIE INCABBV24,875$4.6M0.32%
74FORTINET INCFTNT40,000$4.2M0.29%
75SIMPLIFY EXCHANGE TRADED FUN82889N657191,315$4.2M0.29%
76BERKSHIRE HATHAWAY INC DELBRK-A8,392$4.1M0.28%
77MSCI INCMSCI7,000$4.0M0.28%
78BROOKFIELD ASSET MANAGMT LTD11300410570,790$3.9M0.27%
79ARES MANAGEMENT CORPORATIONARES-PB22,465$3.9M0.27%
80HUDBAY MINERALS INCHBM364,700$3.9M0.27%
81ISHARES TR464289180120,855$3.8M0.27%
82PROGRESSIVE CORP74331510314,214$3.8M0.26%
83PARKER-HANNIFIN CORPPH5,418$3.8M0.26%
84ROYAL BK CDA78008710228,340$3.7M0.26%
85PARKER-HANNIFIN CORPPH5,188$3.6M0.25%
86VEEVA SYS INCVEEV12,500$3.6M0.25%
87PEMBINA PIPELINE CORPPPLOF94,900$3.6M0.25%
88SALESFORCE INCCRM12,590$3.4M0.24%
89AMPHENOL CORP NEW03209510134,751$3.4M0.24%
90RESMED INCRSMDF13,000$3.4M0.23%
91STANTEC INCSTN30,585$3.3M0.23%
92AON PLCAON9,300$3.3M0.23%
93OREILLY AUTOMOTIVE INC67103H10736,780$3.3M0.23%
94AMPHENOL CORP NEW03209510133,478$3.3M0.23%
95TRADEWEB MKTS INC89267210622,555$3.3M0.23%
96PAYCOM SOFTWARE INCPAYC14,000$3.2M0.22%
97HOME DEPOT INCHD8,433$3.1M0.21%
98NASDAQ INCNDAQ34,245$3.1M0.21%
99MCDONALDS CORPMCD10,405$3.0M0.21%
100VISTRA CORPVST15,500$3.0M0.21%
101SIMPLIFY EXCHANGE TRADED FUN82889N699112,220$3.0M0.21%
102BOOKING HOLDINGS INCBKNG500$2.9M0.20%
103CANADIAN PACIFIC KANSAS CITYCP35,565$2.8M0.20%
104ZOETIS INCZTS18,000$2.8M0.19%
105DEERE & CODE5,495$2.8M0.19%
106CANADIAN NAT RES LTD13638510188,702$2.8M0.19%
107DISNEY WALT CO25468710622,390$2.8M0.19%
108APPLE INCAAPL13,009$2.7M0.19%
109BANK AMERICA CORP06050510455,735$2.6M0.18%
110ISHARES TR46428746529,168$2.6M0.18%
111NVR INCNVR350$2.6M0.18%
112KINSALE CAP GROUP INC49714P1085,250$2.5M0.18%
113VERTEX PHARMACEUTICALS INCVRTX5,684$2.5M0.18%
114ADOBE INCADBE6,524$2.5M0.18%
115DOMINOS PIZZA INCDPZ5,500$2.5M0.17%
116APPLIED MATLS INC03822210513,490$2.5M0.17%
117BANK NOVA SCOTIA HALIFAX06414910744,231$2.4M0.17%
118ARCH CAP GROUP LTDG0450A10526,250$2.4M0.17%
119TEXAS PACIFIC LAND CORPORATITPL2,250$2.4M0.16%
120DEERE & CODE4,610$2.3M0.16%
121AUTODESK INCADSK7,480$2.3M0.16%
122HCA HEALTHCARE INCHCA6,000$2.3M0.16%
123AUTODESK INCADSK7,240$2.2M0.16%
124COCA-COLA EUROPACIFIC PARTNECCEP23,840$2.2M0.15%
125CHEMED CORP NEWCHE4,500$2.2M0.15%
126REPUBLIC SVCS INC7607591008,800$2.2M0.15%
127EMERSON ELEC COEMR16,200$2.2M0.15%
128NETFLIX INCNFLX1,600$2.1M0.15%
129SPOTIFY TECHNOLOGY S ASPOT2,750$2.1M0.15%
130CADENCE DESIGN SYSTEM INCCDNS6,690$2.1M0.14%
131CANADIAN NAT RES LTD13638510164,245$2.0M0.14%
132VIKING HOLDINGS LTDVIK37,500$2.0M0.14%
133BROWN & BROWN INCBRO17,500$1.9M0.13%
134ATLAS ENERGY SOLUTIONS INCAESI144,900$1.9M0.13%
135VANGUARD SCOTTSDALE FDS92206C40924,000$1.9M0.13%
136TECHNIPFMC PLCFTI55,000$1.9M0.13%
137SUN LIFE FINANCIAL INC.SUNFF28,440$1.9M0.13%
138PFIZER INCPFE76,600$1.9M0.13%
139TJX COS INC NEW87254010914,710$1.8M0.13%
140JOHNSON & JOHNSONJNJ11,700$1.8M0.12%
141TJX COS INC NEW87254010914,335$1.8M0.12%
142SALESFORCE INCCRM6,450$1.8M0.12%
143NORTH AMERN CONSTR GROUP LTD656811106110,100$1.8M0.12%
144CADENCE DESIGN SYSTEM INCCDNS5,558$1.7M0.12%
145SHOPIFY INCSHOP14,495$1.7M0.12%
146ALPHABET INCGOOG9,370$1.7M0.11%
147KLA CORPKLAC1,750$1.6M0.11%
148ABBOTT LABSABLZF11,500$1.6M0.11%
149FOMENTO ECONOMICO MEXICANO S34441910615,000$1.5M0.11%
150NU HLDGS LTDNU112,500$1.5M0.11%
151BANK MONTREAL QUE06367110113,551$1.5M0.10%
152DECKERS OUTDOOR CORPDECK14,480$1.5M0.10%
153EMCOR GROUP INCEME2,750$1.5M0.10%
154VISA INCV4,135$1.5M0.10%
155GODADDY INCGDDY8,000$1.4M0.10%
156APPLOVIN CORPAPP4,000$1.4M0.10%
157RAYMOND JAMES FINL INC7547301099,100$1.4M0.10%
158DECKERS OUTDOOR CORPDECK13,359$1.4M0.10%
159SS&C TECHNOLOGIES HLDGS INCSSNC16,500$1.4M0.09%
160ELEVANCE HEALTH INCELV3,500$1.4M0.09%
161BANK AMERICA CORP06050510428,700$1.4M0.09%
162HILTON WORLDWIDE HLDGS INCHLT5,000$1.3M0.09%
163T-MOBILE US INCTMUSZ5,500$1.3M0.09%
164PAYPAL HLDGS INCPYPL17,535$1.3M0.09%
165WIX COM LTDWIX8,000$1.3M0.09%
166TORONTO DOMINION BK ONTTORO17,200$1.3M0.09%
167DESCARTES SYS GROUP INC24990610812,266$1.2M0.09%
168LINCOLN ELEC HLDGS INC5339001065,900$1.2M0.08%
169FORTIS INCFTRSF25,300$1.2M0.08%
170INTERNATIONAL BUSINESS MACHSINTR4,060$1.2M0.08%
171ISHARES TR46435G47443,300$1.2M0.08%
172VANGUARD BD INDEX FDS92193783515,575$1.1M0.08%
173ALTRIA GROUP INCMO18,650$1.1M0.08%
174STANTEC INCSTN10,050$1.1M0.08%
175CANADIAN PACIFIC KANSAS CITYCP13,700$1.1M0.08%
176PAYCHEX INCPAYX7,250$1.1M0.07%
177SCHWAB STRATEGIC TR80852486243,075$1.1M0.07%
178INVESCO EXCH TRADED FD TR IIIVZ50,000$1.0M0.07%
179LEIDOS HOLDINGS INCLDOS6,000$946,5600.07%
180UNITED PARCEL SERVICE INCUPS9,350$943,7890.07%
181NETFLIX INCNFLX700$937,3910.07%
182AGNICO EAGLE MINES LTDAEM7,750$921,4800.06%
183ISHARES TR46428864616,855$889,2700.06%
184BERKLEY W R CORPWRB-PH11,765$864,3750.06%
185ANHEUSER BUSCH INBEV SA/NVBUDFF12,500$859,0000.06%
186VANGUARD INDEX FDS9229083631,463$831,0280.06%
187ISHARES TR46428863815,580$830,2580.06%
188MONSTER BEVERAGE CORP NEWMNST12,000$751,6800.05%
189WASTE CONNECTIONS INCWCN4,000$746,8800.05%
190WATTS WATER TECHNOLOGIES INCWTS3,000$737,6700.05%
191SPDR GOLD TRGLD2,350$716,3510.05%
192WARNER BROS DISCOVERY INCWBD60,300$691,0380.05%
193BANK MONTREAL QUE0636711016,200$685,7030.05%
194CANADIAN IMPERIAL BK COMMCNDIF9,600$680,0560.05%
195ISHARES TR46428863811,675$622,1610.04%
196ENBRIDGE INCENNPF12,860$582,9530.04%
197SPROUTS FMRS MKT INC85208M1023,500$576,2400.04%
198SELECT SECTOR SPDR TR81369Y60510,660$558,2640.04%
199CROWN HLDGS INCCCK5,000$514,9000.04%
200PEMBINA PIPELINE CORPPPLOF13,400$502,9640.03%
201FERRARI N VRACE1,000$490,7400.03%
202ISHARES TR4642886469,000$474,8400.03%
203ISHARES TR4642886208,770$451,1290.03%
204GILDAN ACTIVEWEAR INCGIL9,100$447,4970.03%
205CANADIAN NATL RY CO1363751024,300$447,1430.03%
206SUN LIFE FINANCIAL INC.SUNFF6,246$415,4650.03%
207ISHARES TR4642886207,940$408,4340.03%
208CELESTICA INCCLS2,500$389,8130.03%
209ORLA MNG LTD NEW68634K10637,900$379,9720.03%
210RESTAURANT BRANDS INTL INC76131D1035,700$377,3400.03%
211RB GLOBAL INCRBA3,500$371,0850.03%
212KKR & CO INCKKRT2,710$360,5110.03%
213THERMO FISHER SCIENTIFIC INCTMO850$344,6410.02%
214SIMPLIFY EXCHANGE TRADED FUN82889N65715,488$341,1230.02%
215CANADIAN IMPERIAL BK COMMCNDIF4,807$341,0960.02%
216ISHARES TR4642886533,260$331,2160.02%
217EOG RES INCEOG2,703$323,3060.02%
218CAMECO CORPCCJ4,100$303,8720.02%
219TELUS CORPORATIONTU18,300$293,3100.02%
220SPDR SERIES TRUST78468R40811,080$282,3180.02%
221CME GROUP INCCME1,000$275,6200.02%
222ADOBE INCADBE692$267,7210.02%
223IQVIA HLDGS INCIQV1,562$246,1560.02%
224SPDR SERIES TRUST78468R60610,290$244,9020.02%
225SCHWAB STRATEGIC TR8085248629,905$241,4840.02%
226ROCKWELL AUTOMATION INCROK720$239,1620.02%
227VANGUARD BD INDEX FDS9219378353,065$225,6760.02%
228CANADIAN NATL RY CO1363751022,115$220,3020.02%
229ASTRAZENECA PLCAZN3,129$218,6550.02%
230ISHARES TR4642891806,580$208,1250.01%
231TAIWAN SEMICONDUCTOR MFG LTD874039100917$207,6910.01%
232AON PLCAON580$206,9210.01%
233SSGA ACTIVE ETF TR78467V6084,795$199,4240.01%
234ISHARES TR46434V4074,195$180,9720.01%
235TRADEWEB MKTS INC8926721061,226$179,4860.01%
236TELUS CORPORATIONTU9,364$150,3370.01%
237ISHARES TR4642886531,455$147,8280.01%
238ETFIS SER TR I26923G8227,000$145,8100.01%
239ISHARES TR4642886874,425$135,7590.01%
240ARCH CAP GROUP LTDG0450A1051,430$130,2020.01%
241COCA-COLA EUROPACIFIC PARTNECCEP1,300$120,5360.01%
242NETFLIX INCNFLX90$120,5220.01%
243ETFIS SER TR I26923G8225,700$118,7310.01%
244BANK MONTREAL QUE0636711011,050$116,1270.01%
245ALAMOS GOLD INC NEWAGI4,300$114,1410.01%
246SSGA ACTIVE ETF TR78467V6082,510$104,3910.01%
247CELESTICA INCCLS600$93,5550.01%
248ORLA MNG LTD NEW68634K1068,900$89,2280.01%
249ISHARES TR4642886872,605$79,9210.01%
250THOMSON REUTERS CORPTMSOF325$65,3340.00%
251VANGUARD SCOTTSDALE FDS92206C409800$63,6000.00%
252GRANITE REAL ESTATE INVT TR3874372051,160$58,8120.00%
253FIRSTSERVICE CORP NEWFSV300$52,2460.00%
254ABBVIE INCABBV227$42,1360.00%
255ISHARES TR46434V407915$39,4730.00%
256EMERSON ELEC COEMR150$20,0000.00%
257MONSTER BEVERAGE CORP NEWMNST282$17,6640.00%
258DISNEY WALT CO254687106128$15,8730.00%
259JOHNSON & JOHNSONJNJ100$15,2750.00%
260EOG RES INCEOG125$14,9510.00%
261DESCARTES SYS GROUP INC249906108143$14,5350.00%
262SPDR SERIES TRUST78468R408560$14,2690.00%
263KKR & CO INCKKRT105$13,9680.00%
264ROCKWELL AUTOMATION INCROK41$13,6190.00%
265IQVIA HLDGS INCIQV75$11,8190.00%
266PAYCOM SOFTWARE INCPAYC25$5,7850.00%
267SPDR SERIES TRUST78468R606120$2,8560.00%
268THERMO FISHER SCIENTIFIC INCTMO0$00.00%