CUMBERLAND ADVISORS INC

Filed: 4/27/2026ACC: 0001420506-26-000753

📋 What this filing means

CUMBERLAND ADVISORS INC filed this quarterly 13F‑HR report disclosing 48 equity positions with a total reported market value of $255.50M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$255.50M

Total AUM (reported)

1.59M

Total Shares

Allocation by class

TR UNIT$58.50M22.9%

COM$50.84M19.9%

UTSER1 S&PDCRP$27.64M10.8%

STATE STREET SPD$26.53M10.4%

MSCI ACWI EX US$11.36M4.4%

CL B NEW$11.25M4.4%

ISHARES BIOTECH$10.77M4.2%

Portfolio Concentration

Top 3$104.87M41.0%

4–10$63.76M25.0%

11–25$67.17M26.3%

Rest$19.70M7.7%

Top 3 weight

41.0%

Top 10 weight

66.0%

Voting Authority Distribution

Total shares with voting rights: 1.59M

Sole

Full voting authority

1.49M

% of voting shares93.7%

Shared

Joint voting authority

245.00

% of voting shares0.0%

None

No voting authority

99.75K

% of voting shares6.3%

Investment Discretion (by position count)

Sole48

Shared0

Other0

Dominant voting typeSole · 93.7% of voting shares

Institutional Holdings48

Rows:

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares89.95K

TypeSH

Market value$58.50M

22.90%

Sole

89.53K

Shared

75.00

None

345.00

STATE STR SPDR S&P MIDCAP 40

SOLE

UTSER1 S&PDCRP

Shares44.81K

TypeSH

Market value$27.64M

10.82%

Sole

44.46K

Shared

70.00

None

275.00

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares73.75K

TypeSH

Market value$18.73M

7.33%

Sole

68.40K

Shared

0.00

None

5.35K

ISHARES TR

SOLE

MSCI ACWI EX US

Shares165.85K

TypeSH

Market value$11.36M

4.44%

Sole

129.29K

Shared

0.00

None

36.56K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares23.48K

TypeSH

Market value$11.25M

4.40%

Sole

23.43K

Shared

0.00

None

50.00

ISHARES TR

SOLE

ISHARES BIOTECH

Shares63.76K

TypeSH

Market value$10.77M

4.21%

Sole

59.34K

Shared

0.00

None

4.42K

VANGUARD INDEX FDS

SOLE

GROWTH ETF

Shares18.25K

TypeSH

Market value$7.97M

3.12%

Sole

17.68K

Shared

100.00

None

470.00

MICROSOFT CORP

SOLE

COM

Shares21.38K

TypeSH

Market value$7.91M

3.10%

Sole

21.34K

Shared

0.00

None

40.00

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares60.72K

TypeSH

Market value$7.55M

2.95%

Sole

56.70K

Shared

0.00

None

4.02K

ISHARES TR

SOLE

U.S. MED DVC ETF

Shares130.23K

TypeSH

Market value$6.95M

2.72%

Sole

121.54K

Shared

0.00

None

8.69K

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares122.68K

TypeSH

Market value$6.75M

2.64%

Sole

114.24K

Shared

0.00

None

8.44K

CATERPILLAR INC

SOLE

COM

Shares9.50K

TypeSH

Market value$6.73M

2.63%

Sole

9.50K

Shared

0.00

None

0.00

SELECT SECTOR SPDR TR

SOLE

STATE STREET IND

Shares39.36K

TypeSH

Market value$6.37M

2.49%

Sole

39.27K

Shared

0.00

None

90.00

UNITED RENTALS INC

SOLE

COM

Shares7.91K

TypeSH

Market value$5.76M

2.26%

Sole

7.91K

Shared

0.00

None

0.00

ALPHABET INC

SOLE

CAP STK CL C

Shares18.90K

TypeSH

Market value$5.42M

2.12%

Sole

18.90K

Shared

0.00

None

0.00

FREEPORT MCMORAN INC

SOLE

CL B

Shares90.35K

TypeSH

Market value$5.31M

2.08%

Sole

90.35K

Shared

0.00

None

0.00

APPLE INC

SOLE

COM

Shares18.88K

TypeSH

Market value$4.79M

1.88%

Sole

18.88K

Shared

0.00

None

0.00

CUMMINS INC

SOLE

COM

Shares8.13K

TypeSH

Market value$4.37M

1.71%

Sole

8.13K

Shared

0.00

None

0.00

META PLATFORMS INC

SOLE

CL A

Shares7.60K

TypeSH

Market value$4.35M

1.70%

Sole

7.60K

Shared

0.00

None

0.00

FEDEX CORP

SOLE

COM

Shares10.05K

TypeSH

Market value$3.58M

1.40%

Sole

10.05K

Shared

0.00

None

0.00

MERCADOLIBRE INC

SOLE

COM

Shares1.91K

TypeSH

Market value$3.31M

1.29%

Sole

1.91K

Shared

0.00

None

0.00

ISHARES INC

SOLE

MSCI CDA ETF

Shares50.30K

TypeSH

Market value$2.76M

1.08%

Sole

39.14K

Shared

0.00

None

11.16K

ISHARES INC

SOLE

MSCI TAIWAN ETF

Shares37.47K

TypeSH

Market value$2.66M

1.04%

Sole

29.31K

Shared

0.00

None

8.16K

OCCIDENTAL PETE CORP

SOLE

COM

Shares39K

TypeSH

Market value$2.54M

0.99%

Sole

39K

Shared

0.00

None

0.00

ISHARES INC

SOLE

MSCI JAPAN ETF

Shares29.45K

TypeSH

Market value$2.49M

0.97%

Sole

22.61K

Shared

0.00

None

6.85K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	89.95K	SH	$58.50M 22.90%	89.53K	75.00	345.00
STATE STR SPDR S&P MIDCAP 40SOLE	UTSER1 S&PDCRP	44.81K	SH	$27.64M 10.82%	44.46K	70.00	275.00
SPDR SERIES TRUSTSOLE	STATE STREET SPD	73.75K	SH	$18.73M 7.33%	68.40K	0.00	5.35K
ISHARES TRSOLE	MSCI ACWI EX US	165.85K	SH	$11.36M 4.44%	129.29K	0.00	36.56K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	23.48K	SH	$11.25M 4.40%	23.43K	0.00	50.00
ISHARES TRSOLE	ISHARES BIOTECH	63.76K	SH	$10.77M 4.21%	59.34K	0.00	4.42K
VANGUARD INDEX FDSSOLE	GROWTH ETF	18.25K	SH	$7.97M 3.12%	17.68K	100.00	470.00
MICROSOFT CORPSOLE	COM	21.38K	SH	$7.91M 3.10%	21.34K	0.00	40.00
ISHARES TRSOLE	CORE S&P SCP ETF	60.72K	SH	$7.55M 2.95%	56.70K	0.00	4.02K
ISHARES TRSOLE	U.S. MED DVC ETF	130.23K	SH	$6.95M 2.72%	121.54K	0.00	8.69K
SPDR SERIES TRUSTSOLE	STATE STREET SPD	122.68K	SH	$6.75M 2.64%	114.24K	0.00	8.44K
CATERPILLAR INCSOLE	COM	9.50K	SH	$6.73M 2.63%	9.50K	0.00	0.00
SELECT SECTOR SPDR TRSOLE	STATE STREET IND	39.36K	SH	$6.37M 2.49%	39.27K	0.00	90.00
UNITED RENTALS INCSOLE	COM	7.91K	SH	$5.76M 2.26%	7.91K	0.00	0.00
ALPHABET INCSOLE	CAP STK CL C	18.90K	SH	$5.42M 2.12%	18.90K	0.00	0.00
FREEPORT MCMORAN INCSOLE	CL B	90.35K	SH	$5.31M 2.08%	90.35K	0.00	0.00
APPLE INCSOLE	COM	18.88K	SH	$4.79M 1.88%	18.88K	0.00	0.00
CUMMINS INCSOLE	COM	8.13K	SH	$4.37M 1.71%	8.13K	0.00	0.00
META PLATFORMS INCSOLE	CL A	7.60K	SH	$4.35M 1.70%	7.60K	0.00	0.00
FEDEX CORPSOLE	COM	10.05K	SH	$3.58M 1.40%	10.05K	0.00	0.00
MERCADOLIBRE INCSOLE	COM	1.91K	SH	$3.31M 1.29%	1.91K	0.00	0.00
ISHARES INCSOLE	MSCI CDA ETF	50.30K	SH	$2.76M 1.08%	39.14K	0.00	11.16K
ISHARES INCSOLE	MSCI TAIWAN ETF	37.47K	SH	$2.66M 1.04%	29.31K	0.00	8.16K
OCCIDENTAL PETE CORPSOLE	COM	39K	SH	$2.54M 0.99%	39K	0.00	0.00
ISHARES INCSOLE	MSCI JAPAN ETF	29.45K	SH	$2.49M 0.97%	22.61K	0.00	6.85K

Page 1 of 2