CUMBERLAND ADVISORS INC

CIK 0001255435 · Q1 2026

13F Equity AUM

$255.5M

-3.1% QoQ

Positions

-1 QoQ

AUM Rank

#6,458

Top 52%

Skill Alpha (FF)

-2.7%/yr^ns

No Clear Edge

Rank #5,977 · Top 73%

vs S&P -5.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 49.9%Top 10: 66.0%Top 20: 86.9%

SPY22.9%

MDY10.8%

XAR7.3%

ACWX4.4%

BRK/B4.4%

IBB4.2%

VUG3.1%

MSFT3.1%

IJR3.0%

IHI2.7%

Others (38)34.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services74.9%

Industrials8.0%

Technology5.0%

Communication Services4.5%

Consumer Cyclical3.4%

Basic Materials2.1%

Other2.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 48Median: 0.98%Avg: 2.08%

0–0.5%

17(3.2%)

0.5–1%

8(6.4%)

1–3%

15(30.0%)

3–5%

5(19.3%)

5%+

3(41.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 47Unique: 1vs 20 funds

0.6%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

0.9%

BANK OF AMERICA CORP /DE/

1.5%

1.1%

VANGUARD CAPITAL MANAGEMENT LLC

0.8%

GEODE CAPITAL MANAGEMENT, LLC

0.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased7Decreased18Exited2

New Positions

CHV0.1%

+1K

Increased

PFE0.6%

+5K(+9%)

BND0.8%

+4K(+18%)

BSV0.4%

+2K(+19%)

SPY22.9%

+2K(+2%)

MDY10.8%

+860(+2%)

MSFT3.1%

+180(+1%)

VUG3.1%

+50(+0%)

Decreased

BRK/B4.4%

-5,218(-18%)

XAR7.3%

-2,255(-3%)

ACWX4.4%

-1,930(-1%)

TFI0.4%

-1,490(-6%)

EWT1.0%

-1,360(-4%)

EWC1.1%

-1,210(-2%)

DIS0.6%

-1,000(-6%)

IBB4.2%

-475(-1%)

XLI2.5%

-245(-1%)

IHI2.7%

-245(-0%)

Exited

MAT

-43,000

-640

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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