CYPRESS FUNDS LLC
Long book
$397.6M
Q1 2026
Positions
14
Top-10 weight
85%
concentration
Last quarter
-13.0%
SPY -4.4%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsCYPRESS FUNDS LLC is a concentrated fundamental stock-picker, running a $397.6M US long book across 14 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: AMAZON.COM INC, MICROSOFT CORP, NVIDIA CORP, WALMART INC, MASTERCARD INC - A.
Over the last 8 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 3 of 8 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+13.6%
Q2 2024
+5.6%
Q3 2024
+6.3%
Q4 2024
-9.1%
Q1 2025
+17.5%
Q2 2025
+1.9%
Q3 2025
+0.8%
Q4 2025
-13.0%
Sector allocation
Technology 47%
Consumer discretionary 22%
Services media 21%
Industrials 6%
Communications 4%
Long book by quarter
What does CYPRESS FUNDS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AMZN AMAZON.COM INC | Consumer discretionary | 274.2K | $57.1M | 14.4% | -22.5% |
| MSFT MICROSOFT CORP | Technology | 122.7K | $45.4M | 11.4% | -22.5% |
| NVDA NVIDIA CORP | Technology | 251.9K | $43.9M | 11.0% | -22.4% |
| WMT WALMART INC | Consumer discretionary | 252.1K | $31.3M | 7.9% | -22.4% |
| MA MASTERCARD INC - A | Services media | 58.1K | $29.0M | 7.3% | -22.4% |
| SPGI S&P GLOBAL INC | Services media | 65.6K | $27.9M | 7.0% | -22.4% |
| AVGO BROADCOM INC | Technology | 89.9K | $27.8M | 7.0% | -22.3% |
| FICO FAIR ISAAC CORP | Services media | 24.3K | $25.9M | 6.5% | -22.4% |
| META META PLATFORMS INC-CLASS A | Technology | 43.1K | $24.7M | 6.2% | -22.3% |
| TDG TRANSDIGM GROUP INC | Industrials | 20.7K | $24.0M | 6.0% | -22.6% |
| CDNS CADENCE DESIGN SYS INC | Technology | 77.5K | $21.5M | 5.4% | -22.4% |
| FWONK LIBERTY MEDIA CORP-FORMULA-C | Communications | 185.4K | $15.8M | 4.0% | New |
| AAPL APPLE INC | Technology | 47.3K | $12.0M | 3.0% | -60.2% |
| TYL TYLER TECHNOLOGIES INC | Technology | 32.8K | $11.2M | 2.8% | -23.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Jul 9, 2026 | 14 | $397.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 20, 2026 | 14 | $604.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 15 | $763.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 16, 2025 | 16 | $1.24B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR/ARESTATEMENT | Jul 15, 2026 | 16 | $1.09B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR/ARESTATEMENT | May 12, 2026 | 14 | $397.6M | SEC ↗ | |
| Q1 2025 | 13F-HR | May 14, 2025 | 16 | $1.09B | SEC ↗ | |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 15 | $922.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 15 | $930.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 13 | $745.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 14 | $931.8M | canonical | SEC ↗ |
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