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Livermore
Livermore
ZHEN

Cumberland Advisors Inc

SEC CIK
0001255435
Latest filing
Jul 21, 2026

The latest 13F from Cumberland Advisors Inc covers Q2 2026 (filed Jul 21, 2026): 49 long positions worth $283.8M. The top 10 holdings make up 65.2% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 21.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
2
Est. +$3.22M
Added
15
Est. +$1.95M
Reduced
18
Est. −$10.5M
Sold out
1
Est. −$372.8K

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    21.9%$62.3MHistory
  2. MDYSPDR S&P Midcap 400 ETF Trust
    10.5%$29.8MHistory
  3. State Street SPDR S&P Aerospace & Defense ETF78464A631
    7.3%$20.6M
  4. iShares MSCI Acwi Ex U.S. ETF464288240
    4.4%$12.6M
  5. iShares Tr464287556
    4.3%$12.2M

Share of portfolio

Top 5 holdings and the other 44 positions, by share of portfolio value

  1. SPY21.9%
  2. MDY10.5%
  3. State Street SPDR S&P Aerospace & Defense ETF7.3%
  4. iShares MSCI Acwi Ex U.S. ETF4.4%
  5. iShares Tr4.3%
  6. Other 44 positions51.6%

Biggest buys

New and added positions, by estimated amount bought

  1. SPDR Series Trust78464A755
    +$3.00MNew
  2. MELIMercadolibre Inc
    +$453.2KAddedHistory
  3. PFEPfizer Inc
    +$433.4KAddedHistory
  4. Vanguard Total Bond Market ETF921937835
    +$324.8KAdded
  5. VVisa Inc.
    +$219.6KNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SPDR Series Trust78464A755
    +1.06 pp0.0% → 1.1%
  2. State Street Industrial Select Sector SPDR ETF81369Y704
    +0.08 pp2.5% → 2.6%
  3. VVisa Inc.
    +0.08 pp0.0% → 0.1%History
  4. iShares Tr464287556
    +0.08 pp4.2% → 4.3%
  5. Vanguard Total Bond Market ETF921937835
    +0.03 pp0.8% → 0.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SPYSPDR S&P 500 ETF Trust
    −$4.90MReducedHistory
  2. MDYSPDR S&P Midcap 400 ETF Trust
    −$1.76MReducedHistory
  3. CATCaterpillar Inc
    −$915.8KReducedHistory
  4. DISWalt Disney Co
    −$649.7KReducedHistory
  5. WMTWalmart Inc.
    −$372.8KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. SPYSPDR S&P 500 ETF Trust
    −0.95 pp22.9% → 21.9%History
  2. MDYSPDR S&P Midcap 400 ETF Trust
    −0.33 pp10.8% → 10.5%History
  3. DISWalt Disney Co
    −0.28 pp0.6% → 0.3%History
  4. FCXFreeport-McMoran Inc
    −0.19 pp2.1% → 1.9%History
  5. BABAAlibaba Group Holding Ltd
    −0.17 pp0.4% → 0.3%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$283.8M
+$28.3M (+11.1%) vs. prior quarter
Positions
49
+1 vs. prior quarter
Top 10 concentration
65.2%
Top 10 as share of value
Turnover
1.9%
Q2 2026, one quarter
Average holding period
19.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $477.3M (Q4 2021)

Q1 2021: $403.5MQ2 2021: $426.3MQ3 2021: $432.6MQ4 2021: $477.3MQ1 2022: $431.5MQ2 2022: $301.1MQ3 2022: $251.2MQ4 2022: $230.9MQ1 2023: $243.8MQ2 2023: $218.8MQ3 2023: $225.6MQ4 2023: $233.0MQ1 2024: $268.9MQ2 2024: $244.2MQ3 2024: $251.7MQ4 2024: $250.6MQ1 2025: $220.6MQ2 2025: $237.7MQ3 2025: $260.5MQ4 2025: $263.8MQ1 2026: $255.5MQ2 2026: $283.8M
Q1 2021Q2 2026
13F filings of Cumberland Advisors Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 21, 202649$283.8MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q1 2026SEC
Q1 2026Apr 27, 202648$255.5MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q4 2025SEC
Q4 2025Feb 2, 202649$263.8MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q3 2025SEC
Q3 2025Nov 12, 202548$260.5MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q2 2025SEC
Q2 2025Aug 7, 202549$237.7MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q1 2025SEC
Q1 2025May 9, 202549$220.6MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q4 2024SEC
Q4 2024Jan 8, 202549$250.6MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q3 2024SEC
Q3 2024Oct 16, 202448$251.7MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q2 2024SEC
Q2 2024Jul 10, 202453$244.2MSPYMDYState Street SPDR S&P Aerospace & Defense ETFvs. Q1 2024SEC
Q1 2024Apr 15, 202456$268.9MSPYiShares Core S&P Small Cap ETFMDYvs. Q4 2023SEC
Q4 2023Jan 29, 202453$233.0MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q3 2023SEC
Q3 2023Oct 23, 202356$225.6MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q2 2023SEC
Q2 2023Jul 24, 202357$218.8MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q1 2023SEC
Q1 2023Apr 28, 202359$243.8MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q4 2022SEC
Q4 2022Jan 30, 202358$230.9MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q3 2022SEC
Q3 2022Oct 24, 202254$251.2MSPYState Street SPDR S&P Aerospace & Defense ETFMDYvs. Q2 2022SEC
Q2 2022Jul 20, 202255$301.1MSPYProShares TrState Street SPDR S&P Aerospace & Defense ETFvs. Q1 2022SEC
Q1 2022Apr 19, 202259$431.5MSPYProShares TrState Street SPDR S&P Biotech ETFvs. Q4 2021SEC
Q4 2021Jan 27, 202261$477.3MSPYProShares TrState Street SPDR S&P Biotech ETFvs. Q3 2021SEC
Q3 2021Oct 26, 202161$432.6MSPYState Street SPDR S&P Biotech ETFProShares Trvs. Q2 2021SEC
Q2 2021Jul 12, 202163$426.3MSPYState Street SPDR S&P Biotech ETFProShares Trvs. Q1 2021SEC
Q1 2021Apr 20, 202162$403.5MSPYState Street SPDR S&P Aerospace & Defense ETFState Street SPDR S&P Biotech ETF–SEC