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Livermore
Livermore
ZHEN

Cumberland Partners Ltd

SEC CIK
0001578985
Latest filing
Aug 6, 2026

The latest 13F from Cumberland Partners Ltd covers Q2 2026 (filed Aug 6, 2026): 153 long positions worth $1.54B. The top 10 holdings make up 37.3% of the portfolio, and the largest is Royal Bank of Canada (RY) at 5.2%. 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
16
Est. +$25.4M
Added
74
Est. +$192.5M
Reduced
48
Est. −$104.1M
Sold out
20
Est. −$35.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. RYRoyal Bank of Canada
    5.2%$79.9MHistory
  2. NVDANVIDIA Corp
    4.6%$70.8MHistory
  3. MSFTMicrosoft Corp
    4.3%$66.0MHistory
  4. AMZNAmazon Com Inc
    4.0%$62.1MHistory
  5. GOOGAlphabet Inc.
    3.8%$59.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. MCKMcKesson Corp
    +$29.9MAddedHistory
  2. ADIAnalog Devices Inc
    +$16.2MAddedHistory
  3. UNPUnion Pacific Corp
    +$15.0MAddedHistory
  4. MSFTMicrosoft Corp
    +$10.2MAddedHistory
  5. LINLinde PLC
    +$9.02MAddedHistory

Largest weight increases

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

  1. MCKMcKesson Corp
    +1.86 pp0.3% → 2.1%History
  2. ADIAnalog Devices Inc
    +1.05 pp<0.1% → 1.1%History
  3. UNPUnion Pacific Corp
    +0.91 pp1.4% → 2.3%History
  4. RYRoyal Bank of Canada
    +0.75 pp4.4% → 5.2%History
  5. CSCOCisco Systems, Inc.
    +0.58 pp0.4% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MAMastercard Inc
    −$24.0MReducedHistory
  2. APHAmphenol Corp
    −$23.5MReducedHistory
  3. PHMPultegroup Inc
    −$14.5MReducedHistory
  4. ETNEaton Corp plc
    −$9.10MReducedHistory
  5. AVGOBroadcom Inc.
    −$7.72MReducedHistory

Largest weight decreases

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

  1. MAMastercard Inc
    −1.77 pp1.8% → <0.1%History
  2. APHAmphenol Corp
    −1.08 pp2.3% → 1.3%History
  3. PHMPultegroup Inc
    −0.95 pp1.9% → 1.0%History
  4. AZNAstraZeneca PLC
    −0.69 pp2.2% → 1.5%History
  5. ETNEaton Corp plc
    −0.54 pp2.8% → 2.3%History

Metrics

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

Portfolio value
$1.54B
+$227.0M (+17.2%) vs. prior quarter
Positions
153
−4 vs. prior quarter
Top 10 concentration
37.3%
Top 10 as share of value
Turnover
9.8%
Q2 2026, one quarter
Average holding period
14.0 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 $1.63B (Q4 2025)

Q1 2021: $1.21BQ2 2021: $1.27BQ3 2021: $1.22BQ4 2021: $1.42BQ1 2022: $1.32BQ2 2022: $1.05BQ3 2022: $941.7MQ4 2022: $948.9MQ1 2023: $1.02BQ2 2023: $1.09BQ3 2023: $1.04BQ4 2023: $1.09BQ1 2024: $1.38BQ2 2024: $1.38BQ3 2024: $1.44BQ4 2024: $1.43BQ1 2025: $1.30BQ2 2025: $1.44BQ3 2025: $1.53BQ4 2025: $1.63BQ1 2026: $1.32BQ2 2026: $1.54B
Q1 2021Q2 2026
13F filings of Cumberland Partners Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 6, 2026153$1.54BRYNVDAMSFTvs. Q1 2026SEC
Q1 2026May 14, 2026157$1.32BNVDARYMSFTvs. Q4 2025SEC
Q4 2025Feb 6, 2026172$1.63BMSFTNVDAWMTvs. Q3 2025SEC
Q3 2025Nov 7, 2025162$1.53BMSFTNVDAMETAvs. Q2 2025SEC
Q2 2025Aug 12, 2025169$1.44BMSFTWMTMETAvs. Q1 2025SEC
Q1 2025May 9, 2025168$1.30BMSFTWMTVvs. Q4 2024SEC
Q4 2024Feb 3, 2025164$1.43BMSFTWMTMETAvs. Q3 2024SEC
Q3 2024Nov 5, 2024178$1.44BMSFTMETAWMTvs. Q2 2024SEC
Q2 2024Aug 13, 2024169$1.38BMSFTMETAETNvs. Q1 2024SEC
Q1 2024May 9, 2024187$1.38BMSFTETNMETAvs. Q4 2023SEC
Q4 2023Feb 1, 2024178$1.09BMSFTETNMETAvs. Q3 2023SEC
Q3 2023Nov 8, 2023171$1.04BMSFTETNMETAvs. Q2 2023SEC
Q2 2023Aug 9, 2023158$1.09BMSFTETNCPvs. Q1 2023SEC
Q1 2023May 8, 2023160$1.02BMSFTCPRYvs. Q4 2022SEC
Q4 2022Feb 6, 2023166$948.9MMSFTCPRYvs. Q3 2022SEC
Q3 2022Nov 14, 2022146$941.7MMSFTBAMUNHvs. Q2 2022SEC
Q2 2022Aug 10, 2022160$1.05BMSFTBAMRYvs. Q1 2022SEC
Q1 2022May 10, 2022175$1.32BRYBAMMSFTvs. Q4 2021SEC
Q4 2021Feb 10, 2022173$1.42BMSFTRYBAMvs. Q3 2021SEC
Q3 2021Nov 10, 2021186$1.22BRYMSFTBAMvs. Q2 2021SEC
Q2 2021Aug 9, 2021178$1.27BRYMSFTBAMvs. Q1 2021SEC
Q1 2021May 11, 2021176$1.21BMSFTBAMRY–SEC