Managers / Q1 2026
Black Cypress Capital Management, LLC
CIK 0002022614 · THE VERANDA BUILDING, 822 A1A NORTH, SUITE 310, PONTE VEDRA BEACH, FL, 32082 · (904) 280-6767
Summary
Black Cypress Capital Management, LLC reported $139M in U.S.-listed holdings across 31 positions for Q1 2026.
Its largest position, FND, represents 12.2% of the portfolio.
Compared with Q4 2025, the fund opened 3 new positions and exited 0.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 96.1% · $134M
- ETP · 3.9% · $5M
- Other · 0.0% · $24,619
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| AMZNAMAZON COM INC | NEW | +58.2K | 58.2K | +$12M | $12M |
| LULULULULEMON ATHLETICA INC | NEW | +26.5K | 26.5K | +$4M | $4M |
| NKENIKE INC | NEW | +94 | 94 | +$4,965 | $4,965 |
| DISDISNEY WALT CO | ADDED | +122.4K | 122.5K | +$12M | $12M |
| SBUXSTARBUCKS CORP | TRIMMED | −43.9K | 371 | −$4M | $33,238 |
| ISHARES TR | ADDED | +3.2K | 6.5K | +$71,644 | $145,795 |
| LOWLOWES COS INC | TRIMMED | −16.3K | 1.1K | −$4M | $263,598 |
| METAMETA PLATFORMS INC | ADDED | +12.6K | 26.6K | +$6M | $15M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | FNDFLOOR & DECOR HLDGS INChistory → | CL A | 12.15% | $17M | 333.2K |
| 2 | USBUS BANCORP DELhistory → | COM NEW | 11.75% | $16M | 314.6K |
| 3 | METAMETA PLATFORMS INChistory → | CL A | 10.94% | $15M | 26.6K |
| 4 | AMZNAMAZON COM INChistory → | COM | 8.70% | $12M | 58.2K |
| 5 | DISDISNEY WALT COhistory → | COM | 8.48% | $12M | 122.5K |
| 6 | WCCWESCO INTL INChistory → | COM | 7.30% | $10M | 37.1K |
| 7 | FBINFORTUNE BRANDS INNOVATIONS Ihistory → | COM | 6.54% | $9M | 233.6K |
| 8 | SLBSCHLUMBERGER LTDhistory → | COM STK | 5.09% | $7M | 138.0K |
| 9 | HALHALLIBURTON COhistory → | COM | 4.86% | $7M | 173.5K |
| 10 | CCL1EURCARNIVAL CORPhistory → | UNIT 99/99/9999 | 4.69% | $7M | 252.2K |
| 11 | UALUNITED AIRLS HLDGS INChistory → | COM | 4.26% | $6M | 64.4K |
| 12 | WFCWELLS FARGO CO NEWhistory → | COM | 3.35% | $5M | 58.6K |
| 13 | BF/BBROWN FORMAN CORPhistory → | CL B | 3.24% | $5M | 170.5K |
| 14 | LULULULULEMON ATHLETICA INChistory → | COM | 2.91% | $4M | 26.5K |
| 15 | ISHARES TR | CORE MSCI EAFE · IBONDS 27 TRM TS · IBONDS 27 ETF · IBONDS 26 TRM TS · S&P 500 VAL ETF · S&P 500 GRWT ETF · IBONDS DEC2026 | 1.59% | $2M | 39.0K |
| 16 | DALDELTA AIR LINES INC DEL | COM NEW | 0.97% | $1M | 20.4K |
| 17 | SCHWAB STRATEGIC TR | INTL EQTY ETF | 0.71% | $992,093 | 40.1K |
| 18 | VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 0.70% | $976,080 | 15.2K |
| 19 | CB1ACONSTELLATION BRANDS INC | CL A | 0.65% | $911,400 | 6.1K |
| 20 | ISHARES INC | CORE MSCI EMKT | 0.49% | $678,142 | 9.7K |
| 21 | VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 0.41% | $575,332 | 10.6K |
| 22 | LOWLOWES COS INC | COM | 0.19% | $263,598 | 1.1K |
| 23 | SBUXSTARBUCKS CORP | COM | 0.02% | $33,238 | 371 |
| 24 | JOHNSON CTLS INTL PLC | SHS | 0.02% | $24,619 | 188 |
| 25 | NKENIKE INC | CL B | 0.00% | $4,965 | 94 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $139M | 31 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $143M | 28 | Feb 10, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $133M | 32 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $122M | 28 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $110M | 28 | May 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $115M | 28 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $111M | 31 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $105M | 31 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $107M | 29 | May 14, 2024 | 13F-HR | changes · 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 ↗.