Cypress Funds Q1 2026 Portfolio Changes: New Position in FWONK, Reductions Across Key Holdings

As reported by Cypress Funds Llc, the investment strategy for Q1 2026 involved both strategic additions and reductions. The fund's portfolio, valued at approximately $397 million as of March 31, 2026, saw changes in its top holdings compared to the previous period.

Strategic Acquisition: New Position in FWONK

The most significant change during this quarter was a new investment. Cypress Funds Llc established a notable position in Liberty Formula One (FWONK), investing $15.7 million worth of shares, representing a 100% increase from the prior period's holdings. This suggests strong interest in this Communication Services stock during Q1 2026.

Consistent Reductions: Portfolio Shrinkage Pattern

A clear pattern of reducing positions emerged across the board for many previously held stocks. The fund sold shares in several core holdings, indicating a strategic shift or profit-taking:

• AMZN (Amazon.com Inc): Reduced its stake by $5.7 million (-22.47%), lowering the portfolio allocation from 14.36% to still a significant portion.
• NVDA (NVIDIA Corp): Sold shares worth approximately $4.39 million, decreasing its weight by -22.35%, maintaining an allocation of around 11.05%.
• WMT (Walmart Inc): Decreased its position by $7.26 million (-22.36%), exiting the stock entirely and reducing its portfolio percentage from 7.88% to a much lower level, effectively removing it as a major holding.
• AAPL (Apple Inc): Significantly exited this position, selling shares worth $12 million (-60.15%) and completely removing the stock from its portfolio allocation list. This was one of the largest reductions in absolute terms.

Ongoing Holdings: Further Cuts in Weight

The investor continued to trim positions on existing holdings, albeit at a slower rate:

• MSFT (Microsoft Corp): Reduced its stake by $3.55 million (-22.46%), maintaining an allocation of about 11.42%.
• AVGO (Broadcom Inc): Sold shares worth approximately $2.78 million, decreasing the portfolio percentage slightly to around 7.0%, down from a higher weight previously.
• FICO (Fair Isaac Corp): Decreased its position by $1.69 million (-22.36%), lowering the allocation to about 6.52%.

These reductions, combined with the exit of WMT and the significant reduction in AAPL, show a clear trend towards divesting certain consumer-focused stocks while maintaining or slightly reducing exposure to other large-cap technology names like MSFT and NVDA.

Overall Portfolio Adjustment

The changes resulted in an overall decrease in the number of holdings tracked by Cypress Funds Llc, from 14 positions this quarter back down to a similar count as previously reported. The fund exited several stocks entirely (WMT) and significantly reduced others (AAPL). This indicates a period focused on rebalancing or refining its portfolio rather than broad expansion.

For detailed analysis of Cypress Funds Llc's holdings, including the specific sectors they invest in, you can visit their institutional profile. For information on individual stocks like FWONK or MA, use the respective stock links provided.