Cavalier Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Cavalier Investments, LLC reported 65 stock positions worth $248.1 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 9.7% of the portfolio, followed by SS Comm Select Sector SPDR (XLC, 7.1%) and Vaneck Semiconductor ETF (SMH, 5.7%). Compared with Q2 2025, it opened 4 new positions, sold out of 10, added to 39 and reduced 15. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +108%) and the biggest sale Howmet Aerospace (HWM, shares −90%).
- Most Recent 13F
- Q2 2026
- Location
- ALPHARETTA, GA
- CIK
- 0001655543
- Portfolio Value
- $248.1M (Q3 2025)
- SEC Filing
- 0001655543-25-000002 ↗ filed Nov 14, 2025
Holdings Value
Holdings 65 stocks · $248.1M
| SPY SS SPDR S&P 500 ETF Trust-US | 9.69% | 37,158 | $24.1M | Add +108.1% |
| XLC SS Comm Select Sector SPDR | 7.12% | 163,273 | $17.7M | Add +375.0% |
| SMH Vaneck Semiconductor ETF | 5.67% | 48,390 | $14.1M | Reduce -5.5% |
| MSFT Microsoft Corp. | 5.36% | 27,671 | $13.3M | Reduce -25.5% |
| IWM iShares Russell 2000 ETF | 5.23% | 59,935 | $13.0M | Add +499.6% |
| META Meta Platforms Inc. Class A | 4.64% | 16,427 | $11.5M | Reduce -57.5% |
| TSLA Tesla Inc. | 4.61% | 36,282 | $11.5M | Add +245.1% |
| QQQ Invesco QQQ Trust Series 1 | 4.06% | 19,058 | $10.1M | Reduce -40.3% |
| JPM JPMorgan Chase & Co. | 3.52% | 35,546 | $8.7M | Add +5.3% |
| BSX Boston Scientific Corp. | 3.11% | 75,388 | $7.7M | Add +49.9% |
| TLT iShares 20+ Year Treasury BD | 2.98% | 82,621 | $7.4M | Add +354.3% |
| GE General Electric filed as GE AEROSPACE | 2.93% | 27,229 | $7.3M | Add +1194.2% |
| VFH Vanguard Financials ETF | 2.81% | 70,912 | $7.0M | Add +5.4% |
| PLTR Palantir Technologies Inc. Class A | 2.72% | 47,910 | $6.8M | Add +0.8% |
| XLF SS Financial Select Sector | 2.71% | 146,423 | $6.7M | Add +5.5% |
| IGLD FT Vest Gold Strategy Target | 2.27% | 235,347 | $5.6M | New |
| VGK Vanguard Ftse Europe ETF | 2.11% | 68,648 | $5.2M | Add +5.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 1.63% | 38,734 | $4.0M | Reduce -3.2% |
| MSTR Strategy Inc. | 1.51% | 11,627 | $3.7M | New |
| IBIT iShares Bitcoin Trust ETF | 1.28% | 49,000 | $3.2M | New |
| XNTK SS SPDR Nyse Tech ETF | 1.21% | 11,050 | $3.0M | Reduce -15.7% |
| GDX Vaneck Gold Miners ETF | 1.17% | 38,156 | $2.9M | Add +40.8% |
| VRSK Verisk Analytics Inc. | 1.17% | 13,497 | $2.9M | Add +5.3% |
| VRTX Vertex Pharmaceuticals Inc. | 1.12% | 7,807 | $2.8M | Add +5.0% |
| XLY SS Consumer Disc Select Sect | 0.97% | 10,073 | $2.4M | Reduce -3.1% |
| CEG Constellation Energy | 0.95% | 11,915 | $2.4M | Reduce -61.9% |
| KCE SS SPDR S&P Cap MKTS ETF | 0.92% | 26,328 | $2.3M | No change |
| XLK SS Technology Select Sector | 0.91% | 9,942 | $2.3M | Reduce -66.2% |
| BMI Badger Meter Inc. | 0.91% | 13,806 | $2.2M | Add +5.2% |
| T AT&T Inc. | 0.89% | 128,211 | $2.2M | Add +5.5% |
| CPRT Copart Inc. | 0.89% | 53,545 | $2.2M | Add +5.4% |
| ZETA Zeta Global Holdings Corp. Class A | 0.84% | 104,856 | $2.1M | Reduce -33.5% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.83% | 36,063 | $2.1M | Reduce -2.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.81% | 41,537 | $2.0M | Add +81.2% |
| FTDR Frontdoor Inc. | 0.71% | 31,706 | $1.8M | Add +5.4% |
| XAR SS SPDR S&P Aerospace Def | 0.70% | 13,804 | $1.7M | No change |
| EPOL iShares MSCI Poland ETF | 0.63% | 52,816 | $1.6M | Add +5.5% |
| CBOE Cboe Global Markets Inc. | 0.62% | 9,948 | $1.5M | Add +5.3% |
| TDG Transdigm Group Inc. | 0.60% | 2,015 | $1.5M | Add +4.5% |
| EWO iShares MSCI Austria ETF | 0.56% | 50,000 | $1.4M | No change |
| HWM Howmet Aerospace Inc. | 0.52% | 27,005 | $1.3M | Reduce -90.2% |
| VS TRUST | 0.49% | 123,338 | $1.2M | New |
| ARGT Global X MSCI Argentina ETF | 0.48% | 24,021 | $1.2M | Add +5.4% |
| AMP Ameriprise Financial Inc. | 0.39% | 2,787 | $956K | Add +4.7% |
| IESC Ies Holdings Inc. filed as IES HLDGS INC | 0.37% | 5,812 | $916K | Add +4.5% |
| TYL Tyler Technologies Inc. | 0.34% | 1,617 | $847K | Add +4.0% |
| VST Vistra Corp. | 0.33% | 4,948 | $810K | Reduce -66.2% |
| LLY Eli Lilly & Co. | 0.32% | 966 | $802K | No change |
| AROC Archrock Inc. | 0.30% | 33,696 | $756K | Add +5.4% |
| BKNG Booking Holdings Inc. | 0.30% | 296 | $754K | No change |
| ECL Ecolab Inc. | 0.30% | 3,835 | $753K | Add +5.1% |
| AMZN Amazon.com Inc. | 0.27% | 3,684 | $660K | Reduce -96.0% |
| WINA Winmark Corp. | 0.26% | 1,779 | $645K | Add +3.6% |
| GLD SPDR Gold Shares | 0.24% | 1,656 | $589K | No change |
| AAPL Apple Inc. | 0.22% | 3,323 | $554K | Add +3.9% |
| SLV iShares Silver Trust | 0.20% | 11,846 | $502K | No change |
| COLO Global X MSCI Colombia ETF | 0.20% | 16,844 | $495K | Add +5.4% |
| GOOY Yieldmax Googl Option Income | 0.18% | 31,077 | $440K | Add +40.6% |
| APLY Yieldmax Aapl Option Income | 0.15% | 27,672 | $377K | Add +40.6% |
| NVDY Yieldmax Nvda Option Inc. ETF | 0.15% | 22,124 | $372K | Add +40.6% |
| MSFO Yieldmax MSFT Option Is ETF | 0.15% | 21,269 | $371K | Add +40.6% |
| FBY Yieldmax Meta Option Yield | 0.14% | 22,416 | $352K | Add +40.4% |
| AMZY Yieldmax Amazn Option Income | 0.14% | 23,622 | $336K | Add +40.6% |
| VRT Vertiv Holdings Co. Class A | 0.09% | 2,496 | $221K | Add +5.2% |
| RGTI Rigetti Computing Inc. | 0.09% | 25,989 | $220K | Reduce -47.6% |
Options reported separately and not counted above: SPY puts ($328.0M), SMH calls ($84.6M), TSLA calls ($77.8M), QQQ calls ($75.0M), GLD calls ($53.3M), NVDA calls ($46.6M), XLC calls ($29.6M), META puts ($29.4M), TSLA puts ($28.9M), XLC puts ($23.7M), PLTR calls ($22.8M), SPYG calls ($20.9M), and 21 more.
Portfolio Sells Q2 2025 → Q3 2025
| HWM Howmet Aerospace Inc. | Reduce -90.2% | 0.52% | −15.07 |
| AMZN Amazon.com Inc. | Reduce -96.0% | 0.27% | −5.85 |
| META Meta Platforms Inc. Class A | Reduce -57.5% | 4.64% | −4.01 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −3.14 |
| CEG Constellation Energy | Reduce -61.9% | 0.95% | −2.11 |
| RKLB Rocket Lab Corp. | Sold out | 0.00% | −1.63 |
| XLK SS Technology Select Sector | Reduce -66.2% | 0.91% | −1.35 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -40.3% | 4.06% | −1.28 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −0.95 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.74 |
| VST Vistra Corp. | Reduce -66.2% | 0.33% | −0.53 |
| VISN Vistance Networks Inc. | Sold out | 0.00% | −0.49 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.45 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.36 |
| FSS Federal Signal Corp. | Sold out | 0.00% | −0.34 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −0.34 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.32 |
| MSFT Microsoft Corp. | Reduce -25.5% | 5.36% | −0.24 |
| RGTI Rigetti Computing Inc. | Reduce -47.6% | 0.09% | −0.09 |
| ZETA Zeta Global Holdings Corp. Class A | Reduce -33.5% | 0.84% | +0.10 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -2.1% | 0.83% | +0.22 |
| XNTK SS SPDR Nyse Tech ETF | Reduce -15.7% | 1.21% | +0.27 |
| XLY SS Consumer Disc Select Sect | Reduce -3.1% | 0.97% | +0.29 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -3.2% | 1.63% | +0.48 |
| SMH Vaneck Semiconductor ETF | Reduce -5.5% | 5.67% | +1.34 |
Portfolio Buys Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +108.1% | 9.69% | +6.35 |
| XLC SS Comm Select Sector SPDR | Add +375.0% | 7.12% | +5.99 |
| IWM iShares Russell 2000 ETF | Add +499.6% | 5.23% | +4.57 |
| TSLA Tesla Inc. | Add +245.1% | 4.61% | +3.60 |
| GE General Electric | Add +1194.2% | 2.93% | +2.77 |
| TLT iShares 20+ Year Treasury BD | Add +354.3% | 2.98% | +2.49 |
| IGLD FT Vest Gold Strategy Target | New | 2.27% | +2.27 |
| MSTR Strategy Inc. | New | 1.51% | +1.51 |
| BSX Boston Scientific Corp. | Add +49.9% | 3.11% | +1.47 |
| IBIT iShares Bitcoin Trust ETF | New | 1.28% | +1.28 |
| PLTR Palantir Technologies Inc. Class A | Add +0.8% | 2.72% | +0.76 |
| GDX Vaneck Gold Miners ETF | Add +40.8% | 1.17% | +0.75 |
| VGK Vanguard Ftse Europe ETF | Add +5.4% | 2.11% | +0.58 |
| JPM JPMorgan Chase & Co. | Add +5.3% | 3.52% | +0.56 |
| XLF SS Financial Select Sector | Add +5.5% | 2.71% | +0.50 |
| VS TRUST | New | 0.49% | +0.49 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +81.2% | 0.81% | +0.33 |
| VFH Vanguard Financials ETF | Add +5.4% | 2.81% | +0.21 |
| FTDR Frontdoor Inc. | Add +5.4% | 0.71% | +0.17 |
| EPOL iShares MSCI Poland ETF | Add +5.5% | 0.63% | +0.14 |
| CPRT Copart Inc. | Add +5.4% | 0.89% | +0.13 |
| VRTX Vertex Pharmaceuticals Inc. | Add +5.0% | 1.12% | +0.12 |
| GOOY Yieldmax Googl Option Income | Add +40.6% | 0.18% | +0.10 |
| APLY Yieldmax Aapl Option Income | Add +40.6% | 0.15% | +0.08 |
| NVDY Yieldmax Nvda Option Inc. ETF | Add +40.6% | 0.15% | +0.07 |
| MSFO Yieldmax MSFT Option Is ETF | Add +40.6% | 0.15% | +0.07 |
| AROC Archrock Inc. | Add +5.4% | 0.30% | +0.06 |
| WINA Winmark Corp. | Add +3.6% | 0.26% | +0.06 |
| TYL Tyler Technologies Inc. | Add +4.0% | 0.34% | +0.06 |
| COLO Global X MSCI Colombia ETF | Add +5.4% | 0.20% | +0.06 |
| FBY Yieldmax Meta Option Yield | Add +40.4% | 0.14% | +0.06 |
| AMZY Yieldmax Amazn Option Income | Add +40.6% | 0.14% | +0.05 |
| AAPL Apple Inc. | Add +3.9% | 0.22% | +0.02 |
| ECL Ecolab Inc. | Add +5.1% | 0.30% | +0.01 |
| VRT Vertiv Holdings Co. Class A | Add +5.2% | 0.09% | −0.00 |
| VRSK Verisk Analytics Inc. | Add +5.3% | 1.17% | −0.04 |
| AMP Ameriprise Financial Inc. | Add +4.7% | 0.39% | −0.05 |
| CBOE Cboe Global Markets Inc. | Add +5.3% | 0.62% | −0.05 |
| BMI Badger Meter Inc. | Add +5.2% | 0.91% | −0.07 |
| ARGT Global X MSCI Argentina ETF | Add +5.4% | 0.48% | −0.10 |
| IESC Ies Holdings Inc. | Add +4.5% | 0.37% | −0.13 |
| T AT&T Inc. | Add +5.5% | 0.89% | −0.18 |
| TDG Transdigm Group Inc. | Add +4.5% | 0.60% | −0.29 |
Options Activity Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 4,924 | $328.0M |
| SMH Vaneck Semiconductor ETF | call | New | 2,593 | $84.6M |
| TSLA Tesla Inc. | call | New | 1,750 | $77.8M |
| QQQ Invesco QQQ Trust Series 1 | call | New | 1,250 | $75.0M |
| GLD SPDR Gold Shares | call | New | 1,500 | $53.3M |
| NVDA Nvidia Corp. | call | New | 2,500 | $46.6M |
| XLC SS Comm Select Sector SPDR | call | New | 2,500 | $29.6M |
| META Meta Platforms Inc. Class A | put | New | 400 | $29.4M |
| TSLA Tesla Inc. | put | New | 650 | $28.9M |
| XLC SS Comm Select Sector SPDR | put | New | 2,000 | $23.7M |
| PLTR Palantir Technologies Inc. Class A | call | New | 1,250 | $22.8M |
| SPYG SS SPDR P S&P 500 Growth ETF | call | New | 2,000 | $20.9M |
| PLTR Palantir Technologies Inc. Class A | put | New | 1,000 | $18.2M |
| SMH Vaneck Semiconductor ETF | put | New | 451 | $14.7M |
| XLF SS Financial Select Sector | call | New | 2,000 | $10.8M |
| BSX Boston Scientific Corp. | put | New | 1,000 | $9.8M |
| NVDA Nvidia Corp. | put | New | 500 | $9.3M |
| GLD SPDR Gold Shares | put | New | 250 | $8.9M |
| NEM Newmont Corp. | call | New | 1,000 | $8.4M |
| AVGO Broadcom Inc. | put | New | 250 | $8.2M |
| AVGO Broadcom Inc. | call | New | 250 | $8.2M |
| GE General Electric | put | New | 250 | $7.5M |
| GE General Electric | call | New | 250 | $7.5M |
| TLT iShares 20+ Year Treasury BD | call | New | 800 | $7.1M |
| BSX Boston Scientific Corp. | call | New | 500 | $4.9M |
| NEM Newmont Corp. | put | New | 500 | $4.2M |
| MSTR Strategy Inc. | put | New | 109 | $3.5M |
| MSTR Strategy Inc. | call | New | 105 | $3.4M |
| CEG Constellation Energy | put | New | 100 | $3.3M |
| CEG Constellation Energy | call | New | 100 | $3.3M |
| IBIT iShares Bitcoin Trust ETF | put | New | 490 | $3.2M |
| IBIT iShares Bitcoin Trust ETF | call | New | 490 | $3.2M |
| QQQ Invesco QQQ Trust Series 1 | put | New | 46 | $2.8M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $271.7M | XLK, NVDA, SPY, VWO, XLV |
| Q1 2026 | 60 | $388.2M | SPY, QQQ, USO, KLAC, SMH |
| Q4 2025 | 60 | $321.6M | SPY, GE, QQQ, XLC, WDC |
| Q3 2025 | 65 | $248.1M | SPY, XLC, SMH, MSFT, IWM |
| Q2 2025 | 71 | $330.0M | HWM, META, AMZN, MSFT, QQQ |
| Q1 2025 | 75 | $294.3M | QQQ, HWM, AMZN, SMH, META |
| Q4 2024 | 74 | $299.3M | QQQ, AMZN, XLC, BSX, SPY |
| Q3 2024 | 84 | $326.0M | LLY, IWM, QQQ, AMZN, SPY |
| Q2 2024 | 79 | $324.9M | SMH, XLK, NVDA, QQQ, SMCI |
| Q1 2024 | 81 | $274.0M | SMH, QQQ, XLK, NVDA, SPY |