Cavalier Investments, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 24, 2024), Cavalier Investments, LLC reported 84 stock positions worth $326.0 million. Its top holding was Eli Lilly (LLY) at 8.8% of the portfolio, followed by iShares Russell 2000 ETF (IWM, 7.9%) and Invesco QQQ Trust Series 1 (QQQ, 7.8%). Compared with Q2 2024, it opened 9 new positions, sold out of 4, added to 56 and reduced 15. The biggest buy was iShares Russell 2000 ETF (IWM, shares +1204%) and the biggest sale Vaneck Semiconductor ETF (SMH, shares −77%).

Most Recent 13F
Q2 2026
Location
ALPHARETTA, GA
CIK
0001655543
Portfolio Value
$326.0M (Q3 2024)
SEC Filing
0001214659-24-017903 ↗ filed Oct 24, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $274.0M Q1 2024 Q2 2024: $324.9M Q2 2024 Q3 2024: $326.0M $326.0M Q3 2024 Q4 2024: $299.3M Q4 2024 Q1 2025: $294.3M Q1 2025 Q2 2025: $330.0M Q2 2025 Q3 2025: $248.1M Q3 2025 Q4 2025: $321.6M Q4 2025 Q1 2026: $388.2M Q1 2026 Q2 2026: $271.7M Q2 2026

Holdings 84 stocks · $326.0M
LLY Eli Lilly & Co. 8.85% 32,556 $28.8M Add +211.1%
IWM iShares Russell 2000 ETF 7.91% 116,680 $25.8M Add +1204.3%
QQQ Invesco QQQ Trust Series 1 7.80% 52,102 $25.4M Reduce -3.4%
AMZN Amazon.com Inc. 6.96% 121,759 $22.7M Add +500.8%
SPY SS SPDR S&P 500 ETF Trust-US 4.30% 24,415 $14.0M Reduce -1.9%
XLC SS Comm Select Sector SPDR 4.28% 154,242 $13.9M Add +458.2%
AVGO Broadcom Inc. 2.73% 51,578 $8.9M Add +206.7%
NVDA Nvidia Corp. 2.44% 65,615 $8.0M Reduce -71.3%
SMH Vaneck Semiconductor ETF 2.37% 31,411 $7.7M Reduce -76.6%
VFH Vanguard Financials ETF 2.22% 65,897 $7.2M Add +6.6%
HWM Howmet Aerospace Inc. 2.02% 65,566 $6.6M Add +6.6%
XLK SS Technology Select Sector 1.99% 28,748 $6.5M Reduce -78.7%
AAPL Apple Inc. 1.97% 27,624 $6.4M Add +30.1%
BSX Boston Scientific Corp. 1.85% 71,841 $6.0M Add +6.7%
RSPT Invesco S&P 500 Equal Weight 1.76% 152,430 $5.7M No change
XLE SS Energy Select Sector 1.68% 62,506 $5.5M Add +6.6%
MSFT Microsoft Corp. 1.57% 11,859 $5.1M Add +6.2%
TLT iShares 20+ Year Treasury BD 1.43% 47,515 $4.7M Reduce -3.7%
CRM Salesforce Inc. 1.37% 16,347 $4.5M Add +6.3%
PGR Progressive Corp. 1.29% 16,570 $4.2M Add +6.7%
GE General Electric filed as GE AEROSPACE 1.25% 21,577 $4.1M Add +6.5%
VRTX Vertex Pharmaceuticals Inc. 1.04% 7,297 $3.4M Add +6.0%
DECK Deckers Outdoor Corp. 1.04% 21,200 $3.4M Add +6.3%
VRSK Verisk Analytics Inc. 1.03% 12,562 $3.4M Add +6.4%
KCE SS SPDR S&P Cap MKTS ETF 1.01% 26,328 $3.3M No change
VRT Vertiv Holdings Co. Class A 0.96% 31,416 $3.1M Reduce -37.8%
FICO Fair Isaac Corp. 0.94% 1,582 $3.1M Add +4.6%
SPYV SS SPDR P S&P 500 Value ETF 0.90% 55,400 $2.9M New
SPMD SS SPDR P S&P 400 Midcap ETF 0.88% 52,448 $2.9M Reduce -4.7%
CEG Constellation Energy 0.87% 10,966 $2.9M Reduce -73.0%
BMI Badger Meter Inc. 0.86% 12,871 $2.8M Add +6.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.85% 2,657 $2.8M Add +5.5%
TDG Transdigm Group Inc. 0.83% 1,906 $2.7M Add +3.8%
APPF Appfolio Inc. Class A 0.83% 11,479 $2.7M Add +6.4%
NVO Novo-Nordisk A/S-Spons ADR 0.82% 22,469 $2.7M Add +6.5%
REGN Regeneron Pharmaceuticals 0.81% 2,519 $2.6M Add +5.8%
T AT&T Inc. 0.80% 119,116 $2.6M Add +6.6%
CPRT Copart Inc. 0.80% 49,765 $2.6M Add +6.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.77% 31,094 $2.5M New
ETN Eaton Corp. PLC 0.77% 7,570 $2.5M Add +5.8%
CRS Carpenter Technology 0.77% 15,658 $2.5M New
INTC Intel Corp. 0.72% 100,180 $2.4M New
XAR SS SPDR S&P Aerospace Def 0.67% 13,804 $2.2M No change
MMS Maximus Inc. 0.65% 22,792 $2.1M Add +6.4%
SPSC SPS Commerce Inc. 0.64% 10,673 $2.1M Add +6.2%
SNPS Synopsys Inc. 0.63% 4,080 $2.1M Add +5.3%
CBOE Cboe Global Markets Inc. 0.58% 9,268 $1.9M Add +6.3%
XLF SS Financial Select Sector 0.57% 40,730 $1.8M Add +6.6%
SMCI Super Micro Computer Inc. 0.55% 4,311 $1.8M Reduce -82.5%
ARGT Global X MSCI Argentina ETF 0.45% 22,321 $1.5M Add +6.6%
ANF Abercrombie & Fitch Co. Class A 0.45% 10,423 $1.5M New
CDNS Cadence Design SYS Inc. 0.44% 5,323 $1.4M Add +5.5%
IR Ingersoll-Rand Inc. 0.42% 14,058 $1.4M Add +6.3%
AMD Advanced Micro Devices 0.41% 8,234 $1.4M Reduce -53.2%
PTGX Protagonist Therapeutics Inc. 0.41% 29,956 $1.3M New
BKNG Booking Holdings Inc. 0.38% 296 $1.2M No change
AMP Ameriprise Financial Inc. 0.38% 2,617 $1.2M Add +5.6%
MOG.A Moog Inc. Class A 0.37% 5,940 $1.2M Add +6.2%
IESC Ies Holdings Inc. filed as IES HLDGS INC 0.34% 5,472 $1.1M New
FSS Federal Signal Corp. 0.30% 10,378 $970K Add +6.4%
GRBK Green Brick Partners Inc. 0.30% 11,605 $969K Add +6.3%
RJF Raymond James Financial Inc. 0.29% 7,815 $957K Add +6.6%
JPM JPMorgan Chase & Co. 0.29% 4,506 $950K Add +6.5%
TPH Tri Pointe Homes Inc. 0.28% 20,344 $922K Add +6.5%
ECL Ecolab Inc. 0.28% 3,580 $914K Add +6.1%
TYL Tyler Technologies Inc. 0.27% 1,532 $894K Add +4.7%
AI C3.AI Inc. Class A 0.25% 34,113 $827K Add +6.6%
USO United States Oil Fund LP 0.25% 11,617 $812K Reduce -0.4%
HUBB Hubbell Inc. 0.24% 1,848 $792K Add +3.9%
MDGL Madrigal Pharmaceuticals Inc. 0.24% 3,641 $773K New
META Meta Platforms Inc. Class A 0.23% 1,297 $742K Reduce -78.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.21% 17,319 $687K Add +6.4%
SWKS Skyworks Solutions Inc. 0.21% 6,956 $687K Add +6.3%
WINA Winmark Corp. 0.20% 1,694 $649K Add +4.3%
MANH Manhattan Associates Inc. 0.20% 2,271 $639K Add +6.5%
AROC Archrock Inc. 0.19% 31,316 $634K New
SCHW Schwab (charles) Corp. 0.19% 9,754 $632K Add +6.0%
WCC Wesco International Inc. 0.19% 3,706 $623K Add +5.9%
TEX Terex Corp. 0.18% 11,299 $598K Add +6.5%
GLD SPDR Gold Shares 0.14% 1,873 $455K Reduce -4.7%
PWR Quanta Services Inc. 0.12% 1,300 $388K Add +5.6%
SLV iShares Silver Trust 0.12% 13,400 $381K Reduce -4.7%
XLI SS Industrial Select Sector 0.10% 2,330 $316K Add +6.3%
SAGE Sage Therapeutics Inc. 0.03% 11,837 $85K Add +6.2%

Portfolio Sells Q2 2024 → Q3 2024
SMH Vaneck Semiconductor ETF Reduce -76.6% 2.37% −8.41
XLK SS Technology Select Sector Reduce -78.7% 1.99% −7.40
NVDA Nvidia Corp. Reduce -71.3% 2.44% −6.25
SMCI Super Micro Computer Inc. Reduce -82.5% 0.55% −5.66
CEG Constellation Energy Reduce -73.0% 0.87% −1.63
TSLA Tesla Inc. Sold out 0.00% −1.22
SPYG SS SPDR P S&P 500 Growth ETF Sold out 0.00% −1.02
META Meta Platforms Inc. Class A Reduce -78.6% 0.23% −0.71
ACLS Axcelis Technologies Inc. Sold out 0.00% −0.49
AMD Advanced Micro Devices Reduce -53.2% 0.41% −0.46
VRT Vertiv Holdings Co. Class A Reduce -37.8% 0.96% −0.39
ELF Elf Beauty Inc. Sold out 0.00% −0.38
QQQ Invesco QQQ Trust Series 1 Reduce -3.4% 7.80% −0.15
USO United States Oil Fund LP Reduce -0.4% 0.25% −0.04
SLV iShares Silver Trust Reduce -4.7% 0.12% +0.00
GLD SPDR Gold Shares Reduce -4.7% 0.14% +0.01
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -4.7% 0.88% +0.01
TLT iShares 20+ Year Treasury BD Reduce -3.7% 1.43% +0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.9% 4.30% +0.13

Portfolio Buys Q2 2024 → Q3 2024
IWM iShares Russell 2000 ETF Add +1204.3% 7.91% +7.35
LLY Eli Lilly & Co. Add +211.1% 8.85% +5.93
AMZN Amazon.com Inc. Add +500.8% 6.96% +5.75
XLC SS Comm Select Sector SPDR Add +458.2% 4.28% +3.55
AVGO Broadcom Inc. Add +206.7% 2.73% +1.90
SPYV SS SPDR P S&P 500 Value ETF New 0.90% +0.90
XLU St Sr Utl SL SE SPDR ETF-Usd New 0.77% +0.77
CRS Carpenter Technology New 0.77% +0.77
INTC Intel Corp. New 0.72% +0.72
AAPL Apple Inc. Add +30.1% 1.97% +0.60
HWM Howmet Aerospace Inc. Add +6.6% 2.02% +0.55
ANF Abercrombie & Fitch Co. Class A New 0.45% +0.45
PTGX Protagonist Therapeutics Inc. New 0.41% +0.41
IESC Ies Holdings Inc. New 0.34% +0.34
VFH Vanguard Financials ETF Add +6.6% 2.22% +0.32
PGR Progressive Corp. Add +6.7% 1.29% +0.30
GE General Electric Add +6.5% 1.25% +0.26
BSX Boston Scientific Corp. Add +6.7% 1.85% +0.25
FICO Fair Isaac Corp. Add +4.6% 0.94% +0.25
MDGL Madrigal Pharmaceuticals Inc. New 0.24% +0.24
AROC Archrock Inc. New 0.19% +0.19
BMI Badger Meter Inc. Add +6.3% 0.86% +0.17
CRM Salesforce Inc. Add +6.3% 1.37% +0.16
GWW WW Grainger Inc. Add +5.5% 0.85% +0.15
T AT&T Inc. Add +6.6% 0.80% +0.15
CBOE Cboe Global Markets Inc. Add +6.3% 0.58% +0.13
TDG Transdigm Group Inc. Add +3.8% 0.83% +0.11
GRBK Green Brick Partners Inc. Add +6.3% 0.30% +0.11
ARGT Global X MSCI Argentina ETF Add +6.6% 0.45% +0.09
MMS Maximus Inc. Add +6.4% 0.65% +0.09
XLF SS Financial Select Sector Add +6.6% 0.57% +0.08
MOG.A Moog Inc. Class A Add +6.2% 0.37% +0.08
ETN Eaton Corp. PLC Add +5.8% 0.77% +0.08
TPH Tri Pointe Homes Inc. Add +6.5% 0.28% +0.06
SPSC SPS Commerce Inc. Add +6.2% 0.64% +0.05
VRSK Verisk Analytics Inc. Add +6.4% 1.03% +0.05
IR Ingersoll-Rand Inc. Add +6.3% 0.42% +0.05
AMP Ameriprise Financial Inc. Add +5.6% 0.38% +0.05
VRTX Vertex Pharmaceuticals Inc. Add +6.0% 1.04% +0.05
TYL Tyler Technologies Inc. Add +4.7% 0.27% +0.05
DECK Deckers Outdoor Corp. Add +6.3% 1.04% +0.05
FSS Federal Signal Corp. Add +6.4% 0.30% +0.05
HUBB Hubbell Inc. Add +3.9% 0.24% +0.04
REGN Regeneron Pharmaceuticals Add +5.8% 0.81% +0.04
XLE SS Energy Select Sector Add +6.6% 1.68% +0.04
MANH Manhattan Associates Inc. Add +6.5% 0.20% +0.03
ECL Ecolab Inc. Add +6.1% 0.28% +0.03
MSFT Microsoft Corp. Add +6.2% 1.57% +0.03
JPM JPMorgan Chase & Co. Add +6.5% 0.29% +0.03
WINA Winmark Corp. Add +4.3% 0.20% +0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 40$271.7MXLK, NVDA, SPY, VWO, XLV
Q1 2026 60$388.2MSPY, QQQ, USO, KLAC, SMH
Q4 2025 60$321.6MSPY, GE, QQQ, XLC, WDC
Q3 2025 65$248.1MSPY, XLC, SMH, MSFT, IWM
Q2 2025 71$330.0MHWM, META, AMZN, MSFT, QQQ
Q1 2025 75$294.3MQQQ, HWM, AMZN, SMH, META
Q4 2024 74$299.3MQQQ, AMZN, XLC, BSX, SPY
Q3 2024 84$326.0MLLY, IWM, QQQ, AMZN, SPY
Q2 2024 79$324.9MSMH, XLK, NVDA, QQQ, SMCI
Q1 2024 81$274.0MSMH, QQQ, XLK, NVDA, SPY