UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 13F

                            FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: March 31, 2004

Check here if Amendment [  ]; Amendment Number:
This amendment (Check only one.): [ ] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:     The Cypress Funds LLC
Address:  865 South Figeroa, Suite 700
          Los Angels, CA. 90017

13 File Number: 28-7810

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct, and complete, and
and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form


Person Signing this Report on Behalf of Reporting Manager:

Name:      Todd Moodey
Title:     COO
Phone:
Signature, Place and Date of Signing:

    Todd Moodey  April 22, 2004


Report Type (Check only one.):
[ X]        13F HOLDINGS REPORT.
[  ]        13F NOTICE.
[  ]        13F COMBINATION REPORT.


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934

                           FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    34

Form 13F Information Table Value Total:    126208




             
                                                                FORM 13F INFORMATION TABLE
                                                              VALUE   SHARES/ SH/ PUT/ INVSTMT   OTHER        VOTING AUTHORITY
           NAME OF ISSUER        TITLE OF CLASS     CUSIP   x($1000) PRN AMT  PRN CALL DISCRETN MANAGERS   SOLE    SHARED    NONE
  ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D AMERICAN EAGLE OUTFITTERS      COMMON STOCK     02553E106     4043   150000 SH       SOLE                 150000        0        0
D APPLIED MATERIALS INC COM      COMMON STOCK     038222105     1600    75000 SH       SOLE                  75000        0        0
D AXCELIS TECHS COM STK          COMMON STOCK     054540109     2780   250000 SH       SOLE                 250000        0        0
D BANK ONE CORP COM              COMMON STOCK     06423A103     5452   100000 SH       SOLE                 100000        0        0
D BOSTON SCIENTIFIC CORP         COMMON STOCK     101137107     4238   100000 SH       SOLE                 100000        0        0
D COMVERSE TECHNOLOGY INC USD CO COMMON STOCK     205862402     1814   100000 SH       SOLE                 100000        0        0
D DEAN FOODS CO NEW              COMMON STOCK     242370104     2338    70000 SH       SOLE                  70000        0        0
D DOW JONES & CO INC COM         COMMON STOCK     260561105     2204    46000 SH       SOLE                  46000        0        0
D FEDERAL SIGNAL CORP COM        COMMON STOCK     313855108     4327   218000 SH       SOLE                 218000        0        0
D FORMFACTOR INC                 COMMON STOCK     346375108     2361   113000 SH       SOLE                 113000        0        0
D FREEPORT-MCMORAN COPPER & GOLD COMMON STOCK     35671D857     4593   117500 SH       SOLE                 117500        0        0
D FRST TRST VL 100               COMMON STOCK     33735D104      196    11600 SH       SOLE                  11600        0        0
D GILLETTE CO COM                COMMON STOCK     375766102     5220   133500 SH       SOLE                 133500        0        0
D GUIDANT CORP COM               COMMON STOCK     401698105     5703    90000 SH       SOLE                  90000        0        0
D HOME DEPOT INC COM             COMMON STOCK     437076102     3362    90000 SH       SOLE                  90000        0        0
D INCO LTD CAD NPV COM  (USD)    COMMON STOCK     453258402     4398   127000 SH       SOLE                 127000        0        0
D KIMBERLY CLARK CORP COM        COMMON STOCK     494368103     3155    50000 SH       SOLE                  50000        0        0
D NATIONAL SEMICONDUCT OR CORP U COMMON STOCK     637640103     3421    77000 SH       SOLE                  77000        0        0
D NORDSTROM INC COM              COMMON STOCK     655664100     3591    90000 SH       SOLE                  90000        0        0
D PFIZER INC COM                 COMMON STOCK     717081103     4451   127000 SH       SOLE                 127000        0        0
D PROCTER & GAMBLE CO COM        COMMON STOCK     742718109     8695    82900 SH       SOLE                  82900        0        0
D RIO TINTO PLC SPONS ADR        ADRS STOCKS      767204100     4023    40000 SH       SOLE                  40000        0        0
D ROBERT HALF INTL INC COM       COMMON STOCK     770323103     2291    97000 SH       SOLE                  97000        0        0
D SAPPI LTD SPONSORED ADR        ADRS STOCKS      803069202     2389   175000 SH       SOLE                 175000        0        0
D TAIWAN SEMICONDUCTOR MANUFACTU ADRS STOCKS      874039100     4408   422200 SH       SOLE                 422200        0        0
D TEVA PHARMACEUTICAL ADR FOR 10 ADRS STOCKS      881624209     4753    75000 SH       SOLE                  75000        0        0
D TRIQUINT SEMICONDUCTOR INC     COMMON STOCK     89674K103     2190   300000 SH       SOLE                 300000        0        0
D UNITED MICRO ELECTRONICS ADS   ADRS STOCKS      910873207     2736   526200 SH       SOLE                 526200        0        0
D UNITED THERAPEUTICS CORP COM   COMMON STOCK     91307C102     3694   155000 SH       SOLE                 155000        0        0
D VALEANT PHARMACEUTIC ALS INTL  COMMON STOCK     91911X104     4550   190600 SH       SOLE                 190600        0        0
D VERIZON COMMUNICATIONS         COMMON STOCK     92343V104     4783   130900 SH       SOLE                 130900        0        0
D WAL MART STORES INC            COMMON STOCK     931142103     5969   100000 SH       SOLE                 100000        0        0
D WASHINGTON MUT INC COM         COMMON STOCK     939322103     4271   100000 SH       SOLE                 100000        0        0
D ZILOG INC COM                  COMMON STOCK     989524301     2209   175000 SH       SOLE                 175000        0        0
S REPORT SUMMARY                 34 DATA RECORDS              126208        0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED