SEC 13F Intelligence

Managers / Q4 2023 · view latest →

CYPRESS FUNDS LLC

CIK 0001081198 · 515 S. FLOWER ST., SUITE 4150, LOS ANGELES, CA, 90071 · 213-891-6375

Reported Value
$861M
Q4 2023
Positions
15
Filings on Record
31
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Cypress Funds LLC reported $861M in U.S.-listed holdings across 15 positions for Q4 2023.

Its largest position, MSFT, represents 15.1% of the portfolio.

Compared with Q3 2023, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+11.5%
vs prior filed quarter
Top-10 Concentration
+87.6%
share of reported value
Largest Position
+15.1%
Microsoft
New / Exited
3 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $401MQ4 ’18Q1 ’19: $630MQ2 ’19: $635MQ3 ’19: $513MQ4 ’19: $539MQ4 ’19Q1 ’20: $478MQ2 ’20: $734MQ3 ’20: $936MQ4 ’20: $1.1BQ4 ’20Q1 ’21: $1.1BQ2 ’21: $1.2BQ3 ’21: $1.2BQ4 ’21: $1.2BQ4 ’21Q1 ’22: $903MQ2 ’22: $637MQ3 ’22: $556MQ2 ’23: $796MQ2 ’23Q3 ’23: $744MQ4 ’23: $861MQ1 ’24: $932MQ2 ’24: $745MQ2 ’24Q3 ’24: $931MQ4 ’24: $922MQ1 ’25: $1.1BQ2 ’25: $1.2BQ2 ’25Q3 ’25: $763MQ4 ’25: $605MQ1 ’26: $398MQ2 ’26: $398MQ2 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 97.9%ADR: 2.1%
  • Common Stock · 97.9% · $843M
  • ADR · 2.1% · $18M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CDNSCADENCE DESIGN SYSTEMS INCNEW+166.0K166.0K+$45M$45M
AVGOBROADCOM INCNEW+31.0K31.0K+$35M$35M
TYLTYLER TECHNOLOGIES INCNEW+50.0K50.0K+$21M$21M
FFORD MTR COSOLD OUT−3.24M0−$40M$0
HESHESS CORPSOLD OUT−247.3K0−$38M$0
QCOMQUALCOMM INCTRIMMED−105.0K124.0K−$7M$18M
AAPLAPPLE INCTRIMMED−63.0K248.3K−$5M$48M
SPGIS&P GLOBAL INCADDED+20.0K137.2K+$18M$60M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM15.06%$130M344.7K
2NVDANVIDIA CORPORATIONhistory →COM12.37%$106M215.0K
3AMZNAMAZON COM INChistory →COM11.52%$99M652.3K
4FICOFAIR ISAAC CORPhistory →COM10.90%$94M80.6K
5BABOEING COhistory →COM10.60%$91M350.0K
6SPGIS&P GLOBAL INChistory →COM7.02%$60M137.2K
7AAPLAPPLE INChistory →COM5.56%$48M248.3K
8MAMASTERCARD INCORPORATEDhistory →CL A5.34%$46M107.7K
9CDNSCADENCE DESIGN SYSTEMS INChistory →COM5.25%$45M166.0K
10AVGOBROADCOM INChistory →COM4.02%$35M31.0K
11CMGCHIPOTLE MEXICAN GRILL INChistory →COM3.00%$26M11.3K
12ROKUROKU INChistory →COM CL A2.79%$24M261.9K
13TYLTYLER TECHNOLOGIES INChistory →COM2.43%$21M50.0K
14QCOMQUALCOMM INChistory →COM2.08%$18M124.0K
15SESEA LTD - ADRhistory →SPONSORD ADS2.06%$18M437.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$398M14Jul 9, 202613F-HRchanges · EDGAR ↗
Q1 2026$398M14May 12, 2026RESTATEMENTchanges · EDGAR ↗
Q4 2025$605M14Jan 20, 202613F-HRchanges · EDGAR ↗
Q3 2025$763M15Nov 7, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.2B16Jul 16, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.1B16May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$922M15Feb 11, 202513F-HRchanges · EDGAR ↗
Q3 2024$931M15Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$745M13Aug 1, 202413F-HRchanges · EDGAR ↗
Q1 2024$932M14May 9, 202413F-HRchanges · EDGAR ↗
Q4 2023$861M15Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$744M14Nov 1, 202313F-HRchanges · EDGAR ↗
Q2 2023$796M14Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023Under review14May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review13Jan 30, 202313F-HRchanges · EDGAR ↗
Q3 2022$556M13Nov 3, 202213F-HRchanges · EDGAR ↗
Q2 2022$637M15Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$903M16May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.2B16Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.2B18Oct 28, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.2B18Aug 3, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.1B17May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.1B17Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$936M16Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$734M15Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$478M14May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$539M15Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$513M17Nov 6, 201913F-HRchanges · EDGAR ↗
Q2 2019$635M19Aug 1, 201913F-HRchanges · EDGAR ↗
Q1 2019$630M21May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$401M14Feb 7, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.