CIK: 0002022614
Total reported value
$139.3M
Reporting period: 2026-03-31 · Number of holdings: 31
Black Cypress Capital Management, LLC disclosed 31 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $139.3M and a quarterly turnover rate of 65.0%.
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Black Cypress Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.077 — mathematically equivalent to about 13 equally-sized positions, well below its 31 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.20), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim WCC
-72.7% -$23.1M
Add DIS
+80496.1% $11.8M
Add META
+89.6% $6.0M
Trim HAL
-60.1% -$5.5M
Add FND
+65.2% $4.6M
Trim DAL
-77.7% -$5.0M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 12.15% | +3.58% | +65.20% | |
| 2 | USB | US Bancorp | Stock-Financials | 11.75% | -1.07% | -8.58% | |
| 3 | META | Meta Platforms Inc-class A | Stock-Comm Services | 10.94% | +4.47% | +89.64% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 8.70% | +8.70% | NEW | |
| 5 | DIS | Walt Disney Co/the | Stock-Comm Services | 8.48% | +8.47% | +80496.05% | |
| 6 | WCC | Wesco International INC | Stock-Industrials | 7.30% | -15.92% | -72.69% | |
| 7 | FBIN | Fortune Brands Innovations I | Stock-Industrials | 6.54% | +1.27% | +54.89% | |
| 8 | SLB | Slb LTD | Stock-Energy | 5.09% | -2.90% | -53.70% | |
| 9 | HAL | Halliburton Co | Stock-Energy | 4.86% | -3.73% | -60.13% | |
| 10 | CCL1EUR | Carnival CORP LTD | Stock-Consumer Disc | 4.69% | +1.37% | +62.11% | |
| 11 | UAL | United Airlines Holdings INC | Stock-Industrials | 4.26% | +0.75% | +43.15% | |
| 12 | WFC | Wells Fargo & Co | Stock-Financials | 3.35% | +0.52% | +35.05% | |
| 13 | BF-B | Brown-forman Corp-class B | Stock-Other | 3.24% | -0.13% | -7.86% | |
| 14 | LULU | Lululemon Athletica INC | Stock-Consumer Disc | 2.91% | +2.91% | NEW | |
| 15 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.09% | +0.13% | +9.45% | |
| 16 | DAL | Delta Air Lines INC | Stock-Industrials | 0.97% | -3.45% | -77.65% | |
| 17 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.71% | +0.05% | +1.77% | |
| 18 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.70% | +0.04% | +0.73% | |
| 19 | STZ | Constellation Brands Inc-a | Stock-Consumer Staples | 0.65% | +0.06% | — | |
| 20 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.49% | +0.06% | +7.19% | |
| 21 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.41% | +0.03% | +5.23% | |
| 22 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 0.19% | -2.74% | -93.60% | |
| 23 | IBTH | Ishares Ibonds Dec 2027 Term | ETF-Other | 0.10% | +0.05% | +96.97% | |
| 24 | IBDS | Ishrs Ibnds Dec 27 CORP ETF | ETF-Other | 0.10% | +0.04% | +75.76% | |
| 25 | IBTG | Ishares Ibonds Dec 2026 Term | ETF-Other | 0.08% | — | — | |
| 26 | IVE | Ishares S&p 500 Value ETF | ETF-Large Cap & Growth | 0.08% | — | — | |
| 27 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.07% | — | — | |
| 28 | IBDR | Ishares Ibonds Dec 2026 Term | ETF-Other | 0.06% | — | — | |
| 29 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.02% | -2.58% | -99.16% | |
| 30 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.02% | — | — | |
| 31 | NKE | Nike INC -cl B | Stock-Consumer Disc | — | — | NEW |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
-2.1%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 31 | $139.3M | 65 | |
| 2025-12-31 | 28 | $143.3M | 20 | |
| 2025-09-30 | 32 | $133.3M | 46 | |
| 2025-06-30 | 28 | $122.3M | 0 | |
| 2025-03-31 | 28 | $109.7M | 0 | |
| 2024-12-31 | 28 | $115.4M | 0 | |
| 2024-09-30 | 31 | $111.4M | 0 | |
| 2024-06-30 | 31 | $104.8M | 0 | |
| 2024-03-31 | 29 | $106.8M | 0 |
Black Cypress Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Amazon.com INC (AMZN); New buy: Lululemon Athletica INC (LULU); New buy: Nike INC -cl B (NKE); Trim: Wesco International INC (WCC) — shares -72.69%; Add: Walt Disney Co/the (DIS) — shares +80496.05%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DIS | Walt Disney Co/the | +8.5% | +80496.05% | Add |
| 2 | META | Meta Platforms Inc-class A | +4.5% | +89.64% | Add |
| 3 | FND | Floor & Decor Holdings Inc-a | +3.6% | +65.20% | Add |
| 4 | CCL1EUR | Carnival CORP LTD | +1.4% | +62.11% | Add |
| 5 | FBIN | Fortune Brands Innovations I | +1.3% | +54.89% | Add |
| 6 | UAL | United Airlines Holdings INC | +0.8% | +43.15% | Add |
| 7 | WFC | Wells Fargo & Co | +0.5% | +35.05% | Add |
| 8 | IEFA | Ishares Core Msci Eafe ETF | +0.1% | +9.45% | Add |
| 9 | STZ | Constellation Brands Inc-a | +0.1% | — | Unchanged |
| 10 | IEMG | Ishares Core Msci Emerging | +0.1% | +7.19% | Add |
| 11 | IBTH | Ishares Ibonds Dec 2027 Term | +0.1% | +96.97% | Add |
| 12 | SCHF | Schwab Intl Equity ETF | +0.1% | +1.77% | Add |
| 13 | IBDS | Ishrs Ibnds Dec 27 CORP ETF | 0% | +75.76% | Add |
| 14 | VEA | Vanguard Ftse Developed ETF | 0% | +0.73% | Add |
| 15 | VWO | Vanguard Ftse Emerging Marke | 0% | +5.23% | Add |
| 16 | IVW | Ishares S&p 500 Growth ETF | — | — | Unchanged |
| 17 | JNJ | Johnson & Johnson | — | — | Unchanged |
| 18 | IVE | Ishares S&p 500 Value ETF | — | — | Unchanged |
| 19 | IBTG | Ishares Ibonds Dec 2026 Term | — | — | Unchanged |
| 20 | IBDR | Ishares Ibonds Dec 2026 Term | — | — | Unchanged |
| 21 | BF-B | Brown-forman Corp-class B | -0.1% | -7.86% | Trim |
| 22 | USB | US Bancorp | -1.1% | -8.58% | Trim |
| 23 | SBUX | Starbucks CORP | -2.6% | -99.16% | Trim |
| 24 | LOW | Lowe's Cos INC | -2.7% | -93.60% | Trim |
| 25 | SLB | Slb LTD | -2.9% | -53.70% | Trim |
| 26 | DAL | Delta Air Lines INC | -3.5% | -77.65% | Trim |
| 27 | HAL | Halliburton Co | -3.7% | -60.13% | Trim |
| 28 | WCC | Wesco International INC | -15.9% | -72.69% | Trim |
| 29 | AMZN | Amazon.com INC | — | NEW | New buy |
| 30 | LULU | Lululemon Athletica INC | — | NEW | New buy |
| 31 | NKE | Nike INC -cl B | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
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