Black Cypress Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Black Cypress Capital Management, LLC reported 28 stock positions worth $109.7 million. Its top holding was Wesco International (WCC) at 21.9% of the portfolio, followed by US Bancorp (USB, 10.7%) and Wells Fargo (WFC, 8.6%). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 8 and reduced 15. The biggest buy was Brown-Forman Class B (BF.B, shares +137%) and the biggest sale United Airlines (UAL, shares −38%).
- Most Recent 13F
- Q2 2026
- Location
- PONTE VEDRA BEACH, FL
- CIK
- 0002022614
- Portfolio Value
- $109.7M (Q1 2025)
- SEC Filing
- 0002022614-25-000003 ↗ filed May 13, 2025
Holdings Value
Holdings 28 stocks · $109.7M
| WCC Wesco International Inc. | 21.91% | 154,787 | $24.0M | Add +3.2% |
| USB US Bancorp | 10.72% | 278,565 | $11.8M | Add +12.9% |
| WFC Wells Fargo & Co. | 8.65% | 132,176 | $9.5M | Reduce -17.1% |
| BF.B Brown-Forman Corp. Class B | 8.02% | 259,241 | $8.8M | Add +136.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 7.54% | 197,798 | $8.3M | Add +11.6% |
| JCI Johnson Controls Internation | 7.29% | 99,867 | $8.0M | Reduce -0.3% |
| HAL Halliburton Co. | 6.38% | 275,902 | $7.0M | Add +30.7% |
| META Meta Platforms Inc. Class A | 5.82% | 11,084 | $6.4M | Reduce -17.0% |
| SBUX Starbucks Corp. | 4.26% | 47,675 | $4.7M | Reduce -0.2% |
| LOW Lowe's Cos Inc. | 2.92% | 13,758 | $3.2M | Reduce -5.8% |
| FND Floor & Decor Holdings Inc. Class A | 2.57% | 34,983 | $2.8M | Add +41.8% |
| CCL Carnival Corp. | 2.51% | 140,888 | $2.8M | Add +2.5% |
| BKR Baker Hughes Co. | 2.34% | 58,532 | $2.6M | Reduce -43.5% |
| UAL United Airlines Holdings Inc. | 2.05% | 32,548 | $2.2M | Reduce -37.5% |
| DAL Delta Air Lines Inc. | 1.63% | 40,924 | $1.8M | Reduce -20.2% |
| IEFA iShares Core MSCI Eafe ETF | 1.30% | 18,797 | $1.4M | Reduce -3.7% |
| SCHF Schwab Intl Equity ETF | 1.00% | 55,402 | $1.1M | Reduce -1.3% |
| VEA Vanguard Ftse Developed ETF | 0.85% | 18,265 | $928K | Reduce -14.1% |
| IEMG iShares Core MSCI Emerging | 0.58% | 11,719 | $633K | Reduce -1.2% |
| VWO Vanguard Ftse Emerging Marke | 0.52% | 12,561 | $569K | Add +0.2% |
| IBTF iShares Ibonds Dec 2025 Term | 0.43% | 20,057 | $469K | No change |
| IBDQ iShares Ibonds Dec 2025 Term | 0.32% | 13,896 | $349K | No change |
| IVE iShares S&P 500 Value ETF | 0.15% | 845 | $161K | Reduce -23.5% |
| IVW iShares S&P 500 Growth ETF | 0.11% | 1,292 | $120K | Reduce -23.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.10% | 2,556 | $107K | No change |
| IBTG iShares Ibonds Dec 2026 Term | 0.02% | 1,094 | $25K | New |
| IBDR iShares Ibonds Dec 2026 Term | 0.02% | 1,035 | $25K | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.02% | 207 | $20K | Reduce -63.7% |
Portfolio Sells Q4 2024 → Q1 2025
| UAL United Airlines Holdings Inc. | Reduce -37.5% | 2.05% | −2.33 |
| BKR Baker Hughes Co. | Reduce -43.5% | 2.34% | −1.34 |
| DAL Delta Air Lines Inc. | Reduce -20.2% | 1.63% | −1.06 |
| WFC Wells Fargo & Co. | Reduce -17.1% | 8.65% | −1.05 |
| META Meta Platforms Inc. Class A | Reduce -17.0% | 5.82% | −0.96 |
| OIH Vaneck Oil Services ETF | Sold out | 0.00% | −0.31 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.21 |
| LOW Lowe's Cos Inc. | Reduce -5.8% | 2.92% | −0.20 |
| IVW iShares S&P 500 Growth ETF | Reduce -23.6% | 0.11% | −0.07 |
| DIS The Walt Disney Co. | Reduce -63.7% | 0.02% | −0.04 |
| VEA Vanguard Ftse Developed ETF | Reduce -14.1% | 0.85% | −0.04 |
| IVE iShares S&P 500 Value ETF | Reduce -23.5% | 0.15% | −0.00 |
| IEMG iShares Core MSCI Emerging | Reduce -1.2% | 0.58% | +0.04 |
| SCHF Schwab Intl Equity ETF | Reduce -1.3% | 1.00% | +0.10 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -3.7% | 1.30% | +0.11 |
| JCI Johnson Controls Internation | Reduce -0.3% | 7.29% | +0.44 |
| SBUX Starbucks Corp. | Reduce -0.2% | 4.26% | +0.49 |
Portfolio Buys Q4 2024 → Q1 2025
| BF.B Brown-Forman Corp. Class B | Add +136.7% | 8.02% | +4.41 |
| SLB SLB Ltd. | Add +11.6% | 7.54% | +1.65 |
| HAL Halliburton Co. | Add +30.7% | 6.38% | +1.41 |
| USB US Bancorp | Add +12.9% | 10.72% | +0.49 |
| FND Floor & Decor Holdings Inc. Class A | Add +41.8% | 2.57% | +0.43 |
| VWO Vanguard Ftse Emerging Marke | Add +0.2% | 0.52% | +0.04 |
| IBTG iShares Ibonds Dec 2026 Term | New | 0.02% | +0.02 |
| IBDR iShares Ibonds Dec 2026 Term | New | 0.02% | +0.02 |
| CCL Carnival Corp. | Add +2.5% | 2.51% | −0.46 |
| WCC Wesco International Inc. | Add +3.2% | 21.91% | −1.61 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $149.6M | FND, USB, META, FBIN, AMZN |
| Q1 2026 | 31 | $139.3M | FND, USB, META, AMZN, DIS |
| Q4 2025 | 28 | $143.3M | WCC, USB, HAL, FND, SLB |
| Q3 2025 | 32 | $133.3M | WCC, USB, HAL, SLB, META |
| Q2 2025 | 28 | $122.3M | WCC, USB, HAL, SLB, META |
| Q1 2025 | 28 | $109.7M | WCC, USB, WFC, BF.B, SLB |
| Q4 2024 | 28 | $115.4M | WCC, USB, WFC, JCI, META |
| Q3 2024 | 31 | $111.4M | WCC, USB, WFC, META, JCI |
| Q2 2024 | 31 | $104.8M | WCC, WFC, META, USB, JCI |
| Q1 2024 | 29 | $106.8M | WCC, WFC, META, USB, JCI |