Cummins Inc.
MX ˙ BMV ˙ US2310211063
SecurityMX:CMI / Cummins Inc.
InstitutionMarshfield Associates
Latest Disclosed Ownership448,781 shares
Latest Disclosed Value $ 241,453,110
Marshfield Associates reports 41.23% decrease in ownership of CMI / Cummins Inc.

On May 15, 2026 - Marshfield Associates filed a 13F-HR form disclosing ownership of 448,781 shares of Cummins Inc. (MX:CMI) valued at $241,453,110 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 763,648 shares of Cummins Inc.. This represents a change in shares of -41.23% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F CUMMINS COM 231021106 448,781 -314,867 -41.23 241,453 -38.06 4.8359
2026-02-17 2025-12-31 13F CUMMINS COM 231021106 763,648 -340,904 -30.86 389,804 -16.45 6.8329
2025-11-14 2025-09-30 13F CUMMINS COM 231021106 1,104,552 48,493 4.59 466,530 34.89 8.0732
2025-08-14 2025-06-30 13F CUMMINS COM 231021106 1,056,059 5,525 0.53 345,859 5.04 7.0698
2025-05-15 2025-03-31 13F CUMMINS COM 231021106 1,050,534 3,637 0.35 329,279 -9.77 7.1337
2025-02-14 2024-12-31 13F CUMMINS COM 231021106 1,046,897 2,243 0.21 364,948 7.89 7.9091
2024-11-15 2024-09-30 13F Cummins COM 231021106 1,044,654 2,156 0.21 338,248 17.16 7.1793
2024-08-14 2024-06-30 13F Cummins COM 231021106 1,042,498 3,076 0.30 288,699 -5.74 6.3823
2024-05-15 2024-03-31 13F Cummins COM 231021106 1,039,422 -1,369 -0.13 306,266 22.83 6.2806
2024-02-14 2023-12-31 13F Cummins COM 231021106 1,040,791 122,561 13.35 249,342 18.86 5.0626
2023-11-14 2023-09-30 13F Cummins COM 231021106 918,230 22,857 2.55 209,779 -4.43 5.1883
2023-08-14 2023-06-30 13F Cummins COM 231021106 895,373 44,147 5.19 219,510 7.95 5.7054
2023-05-15 2023-03-31 13F Cummins COM 231021106 851,226 6,662 0.79 203,341 -0.63 5.9740
2023-02-14 2022-12-31 13F Cummins COM 231021106 844,564 -3,104 -0.37 204,629 18.62 6.3127
2022-11-14 2022-09-30 13F Cummins COM 231021106 847,668 -6,960 -0.81 172,509 4.30 6.5128
2022-08-12 2022-06-30 13F Cummins COM 231021106 854,628 -5,673 -0.66 165,396 -6.27 6.2660
2022-05-13 2022-03-31 13F Cummins COM 231021106 860,301 5,143 0.60 176,456 -5.41 6.9393
2022-02-14 2021-12-31 13F Cummins COM 231021106 855,158 -2,052 -0.24 186,544 -3.09 7.4186
2021-11-15 2021-09-30 13F Cummins COM 231021106 857,210 -9,478 -1.09 192,495 -8.90 8.4432
2021-08-16 2021-06-30 13F Cummins COM 231021106 866,688 61,411 7.63 211,307 1.27 8.7114
2021-05-17 2021-03-31 13F Cummins COM 231021106 805,277 -10,941 -1.34 208,655 12.57 9.8201
2021-02-16 2020-12-31 13F Cummins COM 231021106 816,218 -35,846 -4.21 185,363 3.02 8.6724
2020-11-13 2020-09-30 13F Cummins COM 231021106 852,064 -6,854 -0.80 179,922 20.90 8.6728
2020-08-14 2020-06-30 13F Cummins COM 231021106 858,918 1,525 0.18 148,816 28.27 7.7336
2020-05-15 2020-03-31 13F Cummins COM 231021106 857,393 299,030 53.55 116,022 16.11 7.1631
2020-02-18 2019-12-31 13F Cummins COM 231021106 558,363 46,155 9.01 99,925 19.93 5.2223
2019-11-15 2019-09-30 13F Cummins COM 231021106 512,208 1,941 0.38 83,321 -4.70 5.2513
2019-08-15 2019-06-30 13F Cummins COM 231021106 510,267 -8,077 -1.56 87,429 6.84 5.6034
2019-05-16 2019-03-31 13F Cummins COM 231021106 518,344 -553 -0.11 81,831 18.01 5.0150
2019-02-15 2018-12-31 13F Cummins COM 231021106 518,897 -8,482 -1.61 69,345 -9.98 5.0189
2018-11-16 2018-09-30 13F Cummins COM 231021106 527,379 -13,897 -2.57 77,034 7.01 4.9481
2018-08-15 2018-06-30 13F Cummins COM 231021106 541,276 -7,242 -1.32 71,990 -19.03 4.7884
2018-05-15 2018-03-31 13F Cummins COM 231021106 548,518 -9,019 -1.62 88,909 -9.72 5.9754
2018-02-15 2017-12-31 13F Cummins COM 231021106 557,537 -8,198 -1.45 98,483 3.60 6.4365
2017-11-15 2017-09-30 13F Cummins COM 231021106 565,735 -9,844 -1.71 95,060 1.81 6.3067
2017-08-15 2017-06-30 13F Cummins COM 231021106 575,579 -13,783 -2.34 93,370 4.78 6.9736
2017-05-17 2017-03-31 13F Cummins COM 231021106 589,362 -21,273 -3.48 89,112 6.78 6.9528
2017-02-15 2016-12-31 13F Cummins COM 231021106 610,635 -20,744 -3.29 83,455 3.14 6.3725
2016-11-15 2016-09-30 13F Cummins COM 231021106 631,379 -82,347 -11.54 80,911 0.82 6.4522
2016-08-15 2016-06-30 13F Cummins COM 231021106 713,726 2,085 0.29 80,251 2.57 5.7419
2016-05-16 2016-03-31 13F Cummins COM 231021106 711,641 39,956 5.95 78,238 32.35 5.5466
2016-02-16 2015-12-31 13F Cummins COM 231021106 671,685 289,687 75.83 59,115 42.52 4.3466
2015-11-13 2015-09-30 13F Cummins COM 231021106 381,998 381,998 41,477 3.1983
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.