CUMBERLAND ADVISORS INC

Filed: 11/12/2025ACC: 0001420506-25-003075

📋 What this filing means

CUMBERLAND ADVISORS INC filed this quarterly 13F‑HR report disclosing 48 equity positions with a total reported market value of $260.52M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$260.52M

Total AUM (reported)

1.72M

Total Shares

Allocation by class

TR UNIT$60.55M23.2%

COM$53.59M20.6%

UTSER1 S&PDCRP$26.41M10.1%

AEROSPACE DEF$18.63M7.2%

CL B NEW$14.11M5.4%

MSCI ACWI EX US$11.10M4.3%

ISHARES BIOTECH$9.44M3.6%

Portfolio Concentration

Top 3$105.59M40.5%

4–10$67.93M26.1%

11–25$64.71M24.8%

Rest$22.29M8.6%

Top 3 weight

40.5%

Top 10 weight

66.6%

Voting Authority Distribution

Total shares with voting rights: 1.72M

Sole

Full voting authority

1.62M

% of voting shares93.9%

Shared

Joint voting authority

225.00

% of voting shares0.0%

None

No voting authority

104.29K

% of voting shares6.1%

Investment Discretion (by position count)

Sole48

Shared0

Other0

Dominant voting typeSole · 93.9% of voting shares

Institutional Holdings48

Rows:

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares90.89K

TypeSH

Market value$60.55M

23.24%

Sole

90.46K

Shared

75.00

None

355.00

SPDR S&P MIDCAP 400 ETF TR

SOLE

UTSER1 S&PDCRP

Shares44.30K

TypeSH

Market value$26.41M

10.14%

Sole

43.97K

Shared

60.00

None

275.00

SPDR SERIES TRUST

SOLE

AEROSPACE DEF

Shares79.30K

TypeSH

Market value$18.63M

7.15%

Sole

73.92K

Shared

0.00

None

5.38K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares28.07K

TypeSH

Market value$14.11M

5.42%

Sole

28.01K

Shared

0.00

None

60.00

ISHARES TR

SOLE

MSCI ACWI EX US

Shares170.69K

TypeSH

Market value$11.10M

4.26%

Sole

134.13K

Shared

0.00

None

36.56K

MICROSOFT CORP

SOLE

COM

Shares19.95K

TypeSH

Market value$10.33M

3.97%

Sole

19.91K

Shared

0.00

None

40.00

ISHARES TR

SOLE

ISHARES BIOTECH

Shares65.40K

TypeSH

Market value$9.44M

3.62%

Sole

60.98K

Shared

0.00

None

4.42K

ISHARES TR

SOLE

U.S. MED DVC ETF

Shares130.95K

TypeSH

Market value$7.87M

3.02%

Sole

122.26K

Shared

0.00

None

8.69K

UNITED RENTALS INC

SOLE

COM

Shares8.11K

TypeSH

Market value$7.74M

2.97%

Sole

8.11K

Shared

0.00

None

0.00

SPDR SERIES TRUST

SOLE

S&P INS ETF

Shares123.69K

TypeSH

Market value$7.34M

2.82%

Sole

115.25K

Shared

0.00

None

8.44K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares61.31K

TypeSH

Market value$7.29M

2.80%

Sole

57.30K

Shared

0.00

None

4.02K

VANGUARD INDEX FDS

SOLE

GROWTH ETF

Shares14.82K

TypeSH

Market value$7.11M

2.73%

Sole

14.36K

Shared

90.00

None

370.00

SELECT SECTOR SPDR TR

SOLE

INDL

Shares38.73K

TypeSH

Market value$5.97M

2.29%

Sole

38.64K

Shared

0.00

None

90.00

META PLATFORMS INC

SOLE

CL A

Shares7.70K

TypeSH

Market value$5.65M

2.17%

Sole

7.70K

Shared

0.00

None

0.00

ALPHABET INC

SOLE

CAP STK CL C

Shares20.15K

TypeSH

Market value$4.91M

1.88%

Sole

20.15K

Shared

0.00

None

0.00

APPLE INC

SOLE

COM

Shares19.20K

TypeSH

Market value$4.89M

1.88%

Sole

19.20K

Shared

0.00

None

0.00

CATERPILLAR INC

SOLE

COM

Shares9.55K

TypeSH

Market value$4.56M

1.75%

Sole

9.55K

Shared

0.00

None

0.00

MERCADOLIBRE INC

SOLE

COM

Shares1.93K

TypeSH

Market value$4.51M

1.73%

Sole

1.93K

Shared

0.00

None

0.00

FREEPORT-MCMORAN INC

SOLE

CL B

Shares91.35K

TypeSH

Market value$3.58M

1.38%

Sole

91.35K

Shared

0.00

None

0.00

CUMMINS INC

SOLE

COM

Shares8.25K

TypeSH

Market value$3.48M

1.34%

Sole

8.25K

Shared

0.00

None

0.00

ISHARES INC

SOLE

MSCI CDA ETF

Shares53.56K

TypeSH

Market value$2.71M

1.04%

Sole

42.40K

Shared

0.00

None

11.16K

BANK AMERICA CORP

SOLE

COM

Shares51.20K

TypeSH

Market value$2.64M

1.01%

Sole

51.20K

Shared

0.00

None

0.00

ISHARES INC

SOLE

MSCI TAIWAN ETF

Shares39.91K

TypeSH

Market value$2.54M

0.97%

Sole

31.75K

Shared

0.00

None

8.16K

ISHARES INC

SOLE

MSCI JPN ETF NEW

Shares30.75K

TypeSH

Market value$2.47M

0.95%

Sole

23.89K

Shared

0.00

None

6.85K

FEDEX CORP

SOLE

COM

Shares10.18K

TypeSH

Market value$2.40M

0.92%

Sole

10.18K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
SPDR S&P 500 ETF TRSOLE	TR UNIT	90.89K	SH	$60.55M 23.24%	90.46K	75.00	355.00
SPDR S&P MIDCAP 400 ETF TRSOLE	UTSER1 S&PDCRP	44.30K	SH	$26.41M 10.14%	43.97K	60.00	275.00
SPDR SERIES TRUSTSOLE	AEROSPACE DEF	79.30K	SH	$18.63M 7.15%	73.92K	0.00	5.38K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	28.07K	SH	$14.11M 5.42%	28.01K	0.00	60.00
ISHARES TRSOLE	MSCI ACWI EX US	170.69K	SH	$11.10M 4.26%	134.13K	0.00	36.56K
MICROSOFT CORPSOLE	COM	19.95K	SH	$10.33M 3.97%	19.91K	0.00	40.00
ISHARES TRSOLE	ISHARES BIOTECH	65.40K	SH	$9.44M 3.62%	60.98K	0.00	4.42K
ISHARES TRSOLE	U.S. MED DVC ETF	130.95K	SH	$7.87M 3.02%	122.26K	0.00	8.69K
UNITED RENTALS INCSOLE	COM	8.11K	SH	$7.74M 2.97%	8.11K	0.00	0.00
SPDR SERIES TRUSTSOLE	S&P INS ETF	123.69K	SH	$7.34M 2.82%	115.25K	0.00	8.44K
ISHARES TRSOLE	CORE S&P SCP ETF	61.31K	SH	$7.29M 2.80%	57.30K	0.00	4.02K
VANGUARD INDEX FDSSOLE	GROWTH ETF	14.82K	SH	$7.11M 2.73%	14.36K	90.00	370.00
SELECT SECTOR SPDR TRSOLE	INDL	38.73K	SH	$5.97M 2.29%	38.64K	0.00	90.00
META PLATFORMS INCSOLE	CL A	7.70K	SH	$5.65M 2.17%	7.70K	0.00	0.00
ALPHABET INCSOLE	CAP STK CL C	20.15K	SH	$4.91M 1.88%	20.15K	0.00	0.00
APPLE INCSOLE	COM	19.20K	SH	$4.89M 1.88%	19.20K	0.00	0.00
CATERPILLAR INCSOLE	COM	9.55K	SH	$4.56M 1.75%	9.55K	0.00	0.00
MERCADOLIBRE INCSOLE	COM	1.93K	SH	$4.51M 1.73%	1.93K	0.00	0.00
FREEPORT-MCMORAN INCSOLE	CL B	91.35K	SH	$3.58M 1.38%	91.35K	0.00	0.00
CUMMINS INCSOLE	COM	8.25K	SH	$3.48M 1.34%	8.25K	0.00	0.00
ISHARES INCSOLE	MSCI CDA ETF	53.56K	SH	$2.71M 1.04%	42.40K	0.00	11.16K
BANK AMERICA CORPSOLE	COM	51.20K	SH	$2.64M 1.01%	51.20K	0.00	0.00
ISHARES INCSOLE	MSCI TAIWAN ETF	39.91K	SH	$2.54M 0.97%	31.75K	0.00	8.16K
ISHARES INCSOLE	MSCI JPN ETF NEW	30.75K	SH	$2.47M 0.95%	23.89K	0.00	6.85K
FEDEX CORPSOLE	COM	10.18K	SH	$2.40M 0.92%	10.18K	0.00	0.00

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