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Cavalier Investments, LLC — 13F Holdings & Portfolio

CIK 1655543 · latest 13F-HR filed 2026-05-15

Backtest portfolio

Cavalier Investments, LLC manages $3.70B in 13F-reported U.S. long-equity assets across 112 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are QQQ (20.28%), QQQ (19.50%), SPY (14.59%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 19 new positions, exited 19, added to 18, and trimmed 16.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$3.70B

Long-equity book

Holdings

112

Distinct positions

Period

2026-03-31

Filed 2026-05-15

Q/Q Activity

+19 / −19 / ↑18 / ↓16

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • SPDR S&P 500 ETF Trust$47.7M +98.8%
  • Invesco QQQ Trust Series 1$41.9M +237.3%
  • iShares Silver Trust$4.6M +598.9%
  • iShares MSCI Austria ETF$2.7M +149.9%
  • FT VEST GOLD STRT TRGT INCM ETF$2.4M +40.4%
Show all 18 →

Top Trims

  • JPMORGAN CHASE ORD-$9.4M -79.5%
  • Western Digital Corporation-$8.0M -56.7%
  • Financial Select Sector SPDR Fund-$8.0M -96.7%
  • Newmont Corporation-$4.8M -75.0%
  • NVIDIA Corp.-$4.4M -36.6%
Show all 16 →

New Positions

  • United States Oil Fund$15.5M
  • KLA Corporation$14.3M
  • VANGUARD VALUE ETF$7.9M
  • RTX Corporation$7.8M
  • ISHARES TR$5.9M
Show all 19 →

Exited Positions

  • General Electric Co$18.7M
  • Reddit Inc$11.8M
  • Vanguard Financials ETF$9.8M
  • Microsoft Corp$9.3M
  • SPDR NYSE Technology ETF$8.5M
Show all 19 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 INVESCO QQQ TR Call QQQ 46090E103 $750.3M 20.28% 1,300,000 SH
2 INVESCO QQQ TR Put QQQ 46090E103 $721.5M 19.50% 1,250,000 SH
3 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $539.8M 14.59% 830,000 SH
4 STATE STR SPDR S&P 500 ETF T Call SPY 78462F103 $390.2M 10.55% 600,000 SH
5 VANECK ETF TRUST Call SMH 92189F676 $98.8M 2.67% 257,700 SH
6 SPDR S&P 500 ETF Trust SPY 78462F103 $96.0M 2.60% 147,679 SH
7 VANECK ETF TRUST Put SMH 92189F676 $91.1M 2.46% 237,700 SH
8 SPDR GOLD TR Put GLD 78463V107 $60.2M 1.63% 140,000 SH
9 Invesco QQQ Trust Series 1 QQQ 46090E103 $59.5M 1.61% 103,144 SH
10 NVIDIA CORPORATION Put NVDA 67066G104 $57.6M 1.56% 330,000 SH
11 ISHARES TR Call IWM 464287655 $49.6M 1.34% 200,000 SH
12 JPMORGAN CHASE & CO Call JPM 46625H100 $44.1M 1.19% 150,000 SH
13 SELECT SECTOR SPDR TR Call XLE 81369Y506 $30.6M 0.83% 500,000 SH
14 WESTERN DIGITAL CORP Call WDC 958102105 $30.3M 0.82% 112,100 SH
15 JPMORGAN CHASE & CO Put JPM 46625H100 $29.4M 0.80% 100,000 SH
16 SPDR GOLD TR Call GLD 78463V107 $26.2M 0.71% 61,000 SH
17 SELECT SECTOR SPDR TR Put XLC 81369Y852 $22.2M 0.60% 200,000 SH
18 UNITED STS OIL FD LP Put USO 91232N207 $19.3M 0.52% 151,500 SH
19 ROCKET LAB CORP Call RKLB 773121108 $19.3M 0.52% 300,000 SH
20 ISHARES BITCOIN TRUST ETF Put IBIT 46438F101 $19.2M 0.52% 500,000 SH
21 TESLA INC Call TSLA 88160R101 $18.6M 0.50% 50,000 SH
22 TESLA INC Put TSLA 88160R101 $18.6M 0.50% 50,000 SH
23 SELECT SECTOR SPDR TR Call XLP 81369Y308 $17.2M 0.47% 210,000 SH
24 WESTERN DIGITAL CORP Put WDC 958102105 $16.8M 0.45% 62,100 SH
25 ISHARES SILVER TR Call SLV 46428Q109 $16.7M 0.45% 245,000 SH
26 SELECT SECTOR SPDR TR Call XLI 81369Y704 $16.2M 0.44% 100,000 SH
27 United States Oil Fund USO 91232N207 $15.5M 0.42% 121,831 SH
28 ISHARES INC Call EWY 464286772 $15.4M 0.42% 125,000 SH
29 SELECT SECTOR SPDR TR Call XLB 81369Y100 $15.0M 0.41% 300,000 SH
30 KLA CORP Put KLAC 482480100 $14.7M 0.40% 10,000 SH
31 KLA Corporation KLAC 482480100 $14.3M 0.39% 9,704 SH
32 ISHARES BITCOIN TRUST ETF Call IBIT 46438F101 $13.4M 0.36% 350,000 SH
33 UNITED STS OIL FD LP Call USO 91232N207 $12.3M 0.33% 96,500 SH
34 VanEck Vectors Semiconductor ETF SMH 92189F676 $11.7M 0.32% 30,595 SH
35 ISHARES 20 PLS YEAR TREASURY BND ETF TLT 464287432 $11.3M 0.30% 129,941 SH
36 SELECT SECTOR SPDR TR Put XLV 81369Y209 $11.0M 0.30% 75,000 SH
37 SPDR Gold Shares GLD 78463V107 $10.8M 0.29% 25,125 SH
38 LAM RESEARCH CORP Call LRCX 512807306 $10.7M 0.29% 50,000 SH
39 COMMUNICAT SVS SLCT SEC SPDR ETF XLC 81369Y852 $10.6M 0.29% 95,558 SH
40 AEROVIRONMENT INC Call AVAV 008073108 $10.1M 0.27% 55,000 SH
41 SELECT SECTOR SPDR TR Call XLU 81369Y886 $9.2M 0.25% 200,000 SH
42 LAM RESEARCH CORP LRCX 512807306 $9.2M 0.25% 42,878 SH
43 BRISTOL-MYERS SQUIBB CO Call BMY 110122108 $9.1M 0.25% 150,000 SH
44 NVIDIA CORPORATION Call NVDA 67066G104 $8.7M 0.24% 50,000 SH
45 IONQ INC Call IONQ 46222L108 $8.6M 0.23% 300,000 SH
46 LAM RESEARCH CORP Put LRCX 512807306 $8.5M 0.23% 40,000 SH
47 FT VEST GOLD STRT TRGT INCM ETF IGLD 33733E856 $8.3M 0.22% 323,655 SH
48 HOWMET AEROSPACE ORD HWM 443201108 $8.1M 0.22% 34,998 SH
49 VANGUARD VALUE ETF VTV 922908744 $7.9M 0.21% 40,239 SH
50 RTX Corporation RTX 75513E101 $7.8M 0.21% 40,650 SH
Filing History
Period Filed AUM Holdings Accession
2026-03-31 2026-05-15 $3.70B 112 0001655543-26-000003
2025-12-31 2026-02-13 $1.95B 87 0001655543-26-000001
2025-09-30 2025-11-14 $1.22B 107 0001655543-25-000002