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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 Q3 2025 · Filed November 7, 2025 · Accession 0001104659-25-108486

Total Value
$1.53B
Positions
259
Other Managers
2
Confidential Omitted
No
View on SEC.gov

Holdings (259)

#IssuerTicker / CUSIPSharesValue% of Filing
1MICROSOFT CORPMSFT123,784$64.1M4.19%
2NVIDIA CORPORATIONNVDA309,546$57.8M3.77%
3WALMART INCWMT461,763$47.6M3.11%
4AMAZON COM INCAMZN211,935$46.5M3.04%
5META PLATFORMS INCMETA62,423$45.8M3.00%
6APPLE INCAAPL176,190$44.9M2.93%
7ROYAL BK CDA780087102268,824$39.6M2.59%
8ALPHABET INCGOOG142,911$34.8M2.27%
9VISA INCV97,430$33.3M2.17%
10COSTCO WHSL CORP NEW22160K10534,128$31.6M2.06%
11S&P GLOBAL INCSPGI63,902$31.1M2.03%
12MICROSOFT CORPMSFT54,847$28.4M1.86%
13EATON CORP PLCETN71,561$26.8M1.75%
14CANADIAN PACIFIC KANSAS CITYCP337,610$25.1M1.64%
15LINDE PLCLIN52,160$24.8M1.62%
16MARSH & MCLENNAN COS INC571748102110,983$22.4M1.46%
17META PLATFORMS INCMETA29,417$21.6M1.41%
18HOME DEPOT INCHD52,442$21.2M1.39%
19MASTERCARD INCORPORATEDMA36,833$21.0M1.37%
20ELI LILLY & COLLY27,348$20.9M1.36%
21BROADCOM INCAVGO61,855$20.4M1.33%
22GALLAGHER ARTHUR J & CO36357610964,044$19.8M1.30%
23BANK NOVA SCOTIA HALIFAX064149107286,680$18.5M1.21%
24UNITEDHEALTH GROUP INCUNH51,807$17.9M1.17%
25BROADCOM INCAVGO54,067$17.8M1.17%
26EATON CORP PLCETN46,365$17.4M1.13%
27WALMART INCWMT160,011$16.5M1.08%
28ALPHABET INCGOOG67,050$16.3M1.07%
29S&P GLOBAL INCSPGI32,344$15.7M1.03%
30SALESFORCE INCCRM66,312$15.7M1.03%
31OREILLY AUTOMOTIVE INC67103H107142,821$15.4M1.01%
32NVIDIA CORPORATIONNVDA78,382$14.6M0.96%
33ROYAL BK CDA78008710297,396$14.3M0.94%
34AMPHENOL CORP NEW032095101115,786$14.3M0.94%
35STANTEC INCSTN131,114$14.1M0.92%
36MASTERCARD INCORPORATEDMA23,316$13.3M0.87%
37AMAZON COM INCAMZN51,570$11.3M0.74%
38VISA INCV33,056$11.3M0.74%
39JOHNSON & JOHNSONJNJ60,165$11.2M0.73%
40TAIWAN SEMICONDUCTOR MFG LTD87403910038,785$10.8M0.71%
41ABBVIE INCABBV44,005$10.2M0.67%
42PHILIP MORRIS INTL INC71817210961,950$10.0M0.66%
43LINDE PLCLIN20,836$9.9M0.65%
44CAMECO CORPCCJ117,290$9.8M0.64%
45CISCO SYS INCCSCO137,305$9.4M0.61%
46ASTRAZENECA PLCAZN122,192$9.4M0.61%
47GE AEROSPACE36960430129,565$8.9M0.58%
48HOWMET AEROSPACE INCHWM44,670$8.8M0.57%
49COSTCO WHSL CORP NEW22160K1059,175$8.5M0.56%
50ALAMOS GOLD INC NEWAGI239,060$8.3M0.54%
51MCKESSON CORPMCK10,440$8.1M0.53%
52NASDAQ INCNDAQ89,610$7.9M0.52%
53TRADEWEB MKTS INC89267210668,606$7.6M0.50%
54DISNEY WALT CO25468710664,960$7.4M0.49%
55BLACKROCK INCBLK6,350$7.4M0.48%
56BROOKFIELD ASSET MANAGMT LTD113004105126,015$7.2M0.47%
57ALPHABET INCGOOG28,535$6.9M0.45%
58GRANITE REAL ESTATE INVT TR387437205122,950$6.8M0.45%
59ALPHABET INCGOOG28,023$6.8M0.45%
60TORONTO DOMINION BK ONTTORO83,623$6.7M0.44%
61ENERGY TRANSFER L PET-PI376,705$6.5M0.42%
62FIRSTSERVICE CORP NEWFSV33,500$6.4M0.42%
63VISTRA CORPVST31,525$6.2M0.40%
64APPLE INCAAPL23,989$6.1M0.40%
65UBER TECHNOLOGIES INCUBER60,000$5.9M0.38%
66MERCADOLIBRE INCMELI2,500$5.8M0.38%
67SPDR GOLD TRGLD16,397$5.8M0.38%
68ARES MANAGEMENT CORPORATIONARES-PB36,170$5.8M0.38%
69GALLAGHER ARTHUR J & CO36357610918,549$5.7M0.38%
70CAMECO CORPCCJ66,182$5.6M0.36%
71HUDBAY MINERALS INCHBM364,700$5.5M0.36%
72WILLIAMS SONOMA INCWSM28,060$5.5M0.36%
73INTUITINTU7,965$5.4M0.36%
74DEERE & CODE11,550$5.3M0.35%
75PEMBINA PIPELINE CORPPPLOF125,650$5.1M0.33%
76ORACLE CORPORCL-PD16,960$4.8M0.31%
77ROYAL BK CDA78008710231,490$4.6M0.30%
78DESCARTES SYS GROUP INC24990610849,200$4.6M0.30%
79MARSH & MCLENNAN COS INC57174810222,935$4.6M0.30%
80VEEVA SYS INCVEEV15,500$4.6M0.30%
81AMPHENOL CORP NEW03209510136,631$4.5M0.30%
82SIMPLIFY EXCHANGE TRADED FUN82889N657199,040$4.4M0.28%
83ISHARES TR464289180120,855$4.2M0.27%
84PARKER-HANNIFIN CORPPH5,408$4.1M0.27%
85COCA-COLA EUROPACIFIC PARTNECCEP44,840$4.1M0.26%
86EXPEDIA GROUP INCEXPE18,850$4.0M0.26%
87PARKER-HANNIFIN CORPPH5,253$4.0M0.26%
88JPMORGAN CHASE & CO.VYLD12,514$3.9M0.26%
89OREILLY AUTOMOTIVE INC67103H10736,585$3.9M0.26%
90NUTRIEN LTDNTR65,000$3.8M0.25%
91T-MOBILE US INCTMUSZ15,895$3.8M0.25%
92PROGRESSIVE CORP74331510314,445$3.6M0.23%
93RESMED INCRSMDF13,000$3.6M0.23%
94BOOKING HOLDINGS INCBKNG650$3.5M0.23%
95ELI LILLY & COLLY4,527$3.5M0.23%
96PROGRESSIVE CORP74331510313,825$3.4M0.22%
97HOME DEPOT INCHD8,378$3.4M0.22%
98AON PLCAON9,300$3.3M0.22%
99STANTEC INCSTN30,620$3.3M0.22%
100SIMPLIFY EXCHANGE TRADED FUN82889N699116,423$3.3M0.21%
101MONSTER BEVERAGE CORP NEWMNST47,500$3.2M0.21%
102HCA HEALTHCARE INCHCA7,500$3.2M0.21%
103NASDAQ INCNDAQ33,393$3.0M0.19%
104BANK AMERICA CORP06050510455,735$2.9M0.19%
105APPLOVIN CORPAPP4,000$2.9M0.19%
106CANADIAN NAT RES LTD13638510188,745$2.8M0.19%
107INSULET CORPPODD9,000$2.8M0.18%
108CANADIAN NAT RES LTD13638510186,880$2.8M0.18%
109FORTINET INCFTNT32,500$2.7M0.18%
110KLA CORPKLAC2,500$2.7M0.18%
111ALPHABET INCGOOG11,070$2.7M0.18%
112ISHARES TR46428746528,441$2.7M0.17%
113SPROTT INCSII31,400$2.6M0.17%
114CANADIAN PACIFIC KANSAS CITYCP34,945$2.6M0.17%
115DOLLAR TREE INCDLTR27,500$2.6M0.17%
116AUTODESK INCADSK7,992$2.5M0.17%
117TRADEWEB MKTS INC89267210622,665$2.5M0.16%
118VIKING HOLDINGS LTDVIK40,000$2.5M0.16%
119DEERE & CODE5,431$2.5M0.16%
120APPLIED MATLS INC03822210512,118$2.5M0.16%
121NETFLIX INCNFLX2,000$2.4M0.16%
122PAYCOM SOFTWARE INCPAYC11,500$2.4M0.16%
123AUTODESK INCADSK7,490$2.4M0.16%
124CADENCE DESIGN SYSTEM INCCDNS6,690$2.3M0.15%
125APPLIED MATLS INC03822210511,397$2.3M0.15%
126TJX COS INC NEW87254010915,807$2.3M0.15%
127EMCOR GROUP INCEME3,500$2.3M0.15%
128REPUBLIC SVCS INC7607591009,800$2.2M0.15%
129SALESFORCE INCCRM9,400$2.2M0.15%
130SHOPIFY INCSHOP14,470$2.1M0.14%
131TJX COS INC NEW87254010914,720$2.1M0.14%
132EMERSON ELEC COEMR16,200$2.1M0.14%
133VISA INCV5,985$2.0M0.13%
134TORONTO DOMINION BK ONTTORO25,550$2.0M0.13%
135ADOBE INCADBE5,750$2.0M0.13%
136MSCI INCMSCI3,500$2.0M0.13%
137DELL TECHNOLOGIES INCDELL14,000$2.0M0.13%
138CADENCE DESIGN SYSTEM INCCDNS5,561$2.0M0.13%
139PFIZER INCPFE76,600$2.0M0.13%
140HILTON WORLDWIDE HLDGS INCHLT7,500$1.9M0.13%
141VERTEX PHARMACEUTICALS INCVRTX4,952$1.9M0.13%
142CROWN HLDGS INCCCK20,000$1.9M0.13%
143NU HLDGS LTDNU120,000$1.9M0.13%
144VANGUARD SCOTTSDALE FDS92206C40924,000$1.9M0.13%
145FERGUSON ENTERPRISES INCFERG8,500$1.9M0.12%
146LEIDOS HOLDINGS INCLDOS10,000$1.9M0.12%
147VERTEX PHARMACEUTICALS INCVRTX4,792$1.9M0.12%
148RAYMOND JAMES FINL INC75473010910,600$1.8M0.12%
149WATTS WATER TECHNOLOGIES INCWTS6,500$1.8M0.12%
150BANK MONTREAL QUE06367110113,677$1.8M0.12%
151SS&C TECHNOLOGIES HLDGS INCSSNC20,000$1.8M0.12%
152KKR & CO INCKKRT13,091$1.7M0.11%
153KKR & CO INCKKRT12,700$1.7M0.11%
154ATLAS ENERGY SOLUTIONS INCAESI144,900$1.6M0.11%
155CAPITAL ONE FINL CORP14040H1057,500$1.6M0.10%
156SPOTIFY TECHNOLOGY S ASPOT2,250$1.6M0.10%
157DOLLAR GEN CORP NEW25667710515,000$1.6M0.10%
158INTERACTIVE BROKERS GROUP IN45841N10722,500$1.5M0.10%
159SALESFORCE INCCRM6,500$1.5M0.10%
160DECKERS OUTDOOR CORPDECK14,480$1.5M0.10%
161JOHNSON & JOHNSONJNJ7,550$1.4M0.09%
162LINCOLN ELEC HLDGS INC5339001065,900$1.4M0.09%
163RAYMOND JAMES FINL INC7547301098,000$1.4M0.09%
164TECHNIPFMC PLCFTI35,000$1.4M0.09%
165SPDR GOLD TRGLD3,850$1.4M0.09%
166DECKERS OUTDOOR CORPDECK13,298$1.3M0.09%
167MICROSOFT CORPMSFT2,400$1.2M0.08%
168THOMSON REUTERS CORPTMSOF8,000$1.2M0.08%
169INTERNATIONAL BUSINESS MACHSINTR4,250$1.2M0.08%
170WARNER BROS DISCOVERY INCWBD60,300$1.2M0.08%
171PAYPAL HLDGS INCPYPL17,535$1.2M0.08%
172VANGUARD BD INDEX FDS92193783515,575$1.2M0.08%
173CME GROUP INCCME4,200$1.1M0.07%
174WASTE CONNECTIONS INCWCN6,150$1.1M0.07%
175CME GROUP INCCME4,000$1.1M0.07%
176INVESCO EXCH TRADED FD TR IIIVZ50,000$1.0M0.07%
177ISHARES TR46435G47437,100$1.0M0.07%
178FORTIS INCFTRSF19,350$981,0500.06%
179NETFLIX INCNFLX800$959,1360.06%
180ISHARES TR46428863817,680$956,3110.06%
181CANADIAN PACIFIC KANSAS CITYCP12,700$945,4540.06%
182CARDINAL HEALTH INCCAH6,000$941,7600.06%
183DRAFTKINGS INC NEWDKNG25,000$935,0000.06%
184BERKLEY W R CORPWRB-PH11,765$901,4340.06%
185VANGUARD INDEX FDS9229083631,463$895,9120.06%
186THOMSON REUTERS CORPTMSOF5,738$890,8030.06%
187BANK MONTREAL QUE0636711016,700$872,6890.06%
188ISHARES TR46428864616,089$853,2000.06%
189NUTRIEN LTDNTR13,050$766,0540.05%
190ENBRIDGE INCENNPF14,504$731,5650.05%
191ISHARES TR46428863813,130$710,2020.05%
192TIDAL TRUST II88636R83416,200$696,8430.05%
193CANADIAN IMPERIAL BANK OF COCNDIF8,700$694,9130.05%
194SELECT SECTOR SPDR TR81369Y60512,533$675,1530.04%
195DESCARTES SYS GROUP INC2499061086,871$647,1090.04%
196ISHARES TR46428864611,600$615,1480.04%
197SCHWAB STRATEGIC TR80852486223,011$561,4680.04%
198PEMBINA PIPELINE CORPPPLOF13,431$542,9400.04%
199ISHARES TR46428862010,020$523,2440.03%
200UNITEDHEALTH GROUP INCUNH1,415$488,6000.03%
201VANECK ETF TRUST92189F1066,260$478,2640.03%
202ISHARES TR4642886208,087$422,3030.03%
203SIMPLIFY EXCHANGE TRADED FUN82889N65718,740$410,4060.03%
204GILDAN ACTIVEWEAR INCGIL7,000$404,2230.03%
205SUN LIFE FINANCIAL INC.SUNFF6,678$400,9250.03%
206KINROSS GOLD CORPKGCRF15,700$389,4840.03%
207CANADIAN IMPERIAL BANK OF COCNDIF4,550$363,5140.02%
208BANK NOVA SCOTIA HALIFAX0641491075,380$347,8110.02%
209ISHARES TR4642886533,260$335,7470.02%
210CELESTICA INCCLS1,300$319,7670.02%
211VANECK ETF TRUST92189F1064,180$319,3520.02%
212BROOKFIELD BUSINESS PARTNERSBBUC9,700$318,0380.02%
213SCHWAB STRATEGIC TR80852486212,990$316,9560.02%
214EOG RES INCEOG2,818$315,9540.02%
215RESTAURANT BRANDS INTL INC76131D1034,900$314,2080.02%
216OPEN TEXT CORPOTEX8,400$313,8460.02%
217SPDR SERIES TRUST78468R40811,818$302,5410.02%
218IQVIA HLDGS INCIQV1,587$301,4350.02%
219COCA-COLA EUROPACIFIC PARTNECCEP3,080$278,4630.02%
220TAIWAN SEMICONDUCTOR MFG LTD874039100917$256,1090.02%
221ROCKWELL AUTOMATION INCROK720$251,6620.02%
222SPDR SERIES TRUST78468R60610,356$247,9230.02%
223PAN AMERN SILVER CORP6979001086,300$244,0270.02%
224ANALOG DEVICES INCADI972$238,8200.02%
225TELUS CORPORATIONTU14,900$234,5820.02%
226ASTRAZENECA PLCAZN2,969$227,7820.01%
227ISHARES TR4642891806,580$225,9570.01%
228AON PLCAON580$206,8160.01%
229ROGERS COMMUNICATIONS INCRCIAF5,920$203,7580.01%
230ISHARES TR4642886531,970$202,8900.01%
231SSGA ACTIVE ETF TR78467V6084,829$200,7900.01%
232ETFIS SER TR I26923G8227,925$172,0520.01%
233BANK MONTREAL QUE0636711011,250$162,8150.01%
234TELUS CORPORATIONTU9,364$147,4580.01%
235VANGUARD BD INDEX FDS9219378351,900$141,3030.01%
236ETFIS SER TR I26923G8226,357$138,0100.01%
237SSGA ACTIVE ETF TR78467V6083,245$134,9270.01%
238ISHARES TR4642886874,210$133,1200.01%
239ALAMOS GOLD INC NEWAGI3,400$118,4620.01%
240NETFLIX INCNFLX90$107,9030.01%
241ISHARES TR4642886873,280$103,7140.01%
242CELESTICA INCCLS390$95,9300.01%
243GRANITE REAL ESTATE INVT TR3874372051,460$81,0900.01%
244PAN AMERN SILVER CORP6979001081,700$65,8490.00%
245SPROTT INCSII780$64,8010.00%
246SPDR SERIES TRUST78468R4082,420$61,9520.00%
247FERGUSON ENTERPRISES INCFERG245$55,0220.00%
248FIRSTSERVICE CORP NEWFSV280$53,3250.00%
249ABBVIE INCABBV227$52,5600.00%
250MONSTER BEVERAGE CORP NEWMNST282$18,9810.00%
251JOHNSON & JOHNSONJNJ100$18,5420.00%
252DISNEY WALT CO254687106128$14,6560.00%
253SPDR SERIES TRUST78468R606520$12,4490.00%
254EOG RES INCEOG90$10,0910.00%
255IQVIA HLDGS INCIQV50$9,4970.00%
256ROCKWELL AUTOMATION INCROK25$8,7380.00%
257DESCARTES SYS GROUP INC24990610888$8,2920.00%
258PAYCOM SOFTWARE INCPAYC25$5,2040.00%
259OPEN TEXT CORPOTEX100$3,7370.00%