SEC 13F Intelligence

Managers / Q1 2025 · view latest →

CYPRESS FUNDS LLC

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

Reported Value
$1.1B
Q1 2025
Positions
16
Filings on Record
31
2019–present window
Filed
May 14, 2025
original filing

Summary

Cypress Funds LLC reported $1.1B in U.S.-listed holdings across 16 positions for Q1 2025.

Its largest position, AMZN, represents 8.9% of the portfolio.

Compared with Q4 2024, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+25.1%
vs prior filed quarter
Top-10 Concentration
+54.0%
share of reported value
Largest Position
+8.9%
Amazon Com
New / Exited
2 / 1
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: 64.7%ETP: 34.3%Other: 1.1%
  • Common Stock · 64.7% · $708M
  • ETP · 34.3% · $375M
  • Other · 1.1% · $12M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NDQInvesco QQQ TrustNEW+800.0K800.0K+$375M$375M
WMTWalmart IncNEW+404.7K404.7K+$36M$36M
INVESCO QQQ TRSOLD OUT−350.0K0−$179M$0
T7DTransDigm Group IncADDED+6.1K27.8K+$11M$38M
AMZNAmazon.com IncHELD+0512.0K−$15M$97M
NVDANVIDIA CorpHELD+0474.8K−$12M$51M
MSFTMicrosoft CorpHELD+0249.0K−$11M$93M
AVGOBroadcom IncHELD+0169.1K−$11M$28M

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

Holdings — Q1 2025

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMZNAmazon.com Inchistory →COM8.90%$97M512.0K
2MSFTMicrosoft Corphistory →COM8.54%$93M249.0K
3FICOFair Isaac Corphistory →COM6.56%$72M38.9K
4SPGIS&P Global Inchistory →COM4.90%$54M105.6K
5METAMeta Platforms Inchistory →CL A4.76%$52M90.3K
6NVDANVIDIA Corphistory →COM4.70%$51M474.8K
7MAMastercard Inchistory →CL A4.68%$51M93.5K
8CDNSCadence Design Systems Inchistory →COM4.16%$46M178.9K
9T7DTransDigm Group Inchistory →COM3.51%$38M27.8K
10WMTWalmart Inchistory →COM3.25%$36M404.7K
11AAPLApple Inchistory →COM3.01%$33M148.3K
12TYLTyler Technologies Inchistory →COM2.85%$31M53.6K
13AVGOBroadcom Inchistory →COM2.59%$28M169.1K
14CMGChipotle Mexican Grill Inchistory →COM2.25%$25M490.8K
15ASML Holding NVCOM1.05%$12M17.4K

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 ↗.