Cavalier Investments, LLC holds a focused book of 60 reported positions worth $388.2M as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened United States Oil Fund LP and trimmed Vaneck Semiconductor ETF. Their largest long position is SS SPDR S&P 500 ETF Trust-US at 25% of the reported non-option book. They also disclosed $1.7B in put options (a bearish bet) and $1.7B in call options (bullish), shown separately below and excluded from the non-option book. Cloning the disclosed picks since 2015 would be +242% (+12.0%/yr). That is a simulation of the disclosed long book, not audited returns.
Cavalier Investments, LLC is a market maker: this book is hedging inventory, not directional conviction.
The reported book (valued from quarter-end) returned +275.5%, a 33.6-point gap that is the cost of the ~45-day 13F disclosure lag a real follower can't avoid.
Growth of $10,000 cloning Cavalier Investments, LLC's disclosed long 13F book, rebalanced on each filing date (so it reflects each quarter's actual reporting lag, ~45 days for the latest filing, with no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
30% mapped to company sectors
+3 sectors below the cut, 1% together
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices (an exit at the prior quarter-end), no cost basis
Other tracked managers holding the same core names as Cavalier Investments, LLC
| Manager / fund | Shared names | Their $ in those |
|---|---|---|
| Uhlmann Price Securities, LLC | 20 / 60 | $2.4B |
| Wallace Hart LLC | 9 / 60 | $115.7M |
| Marest Capital, LLC | 6 / 60 | $143.9M |
| AdviceOne Advisory Services, LLC | 7 / 60 | $123.4M |
| Trust Asset Management LLC | 15 / 60 | $1.1B |
| XP Advisory US, Inc. | 17 / 60 | $123.6M |
| Shulman DeMeo Asset Management LLC | 14 / 60 | $340.0M |
| Pilgrim Partners Asia Pte Ltd | 14 / 60 | $136.3M |
Ranked by the share of each fund's own book sitting in the names it shares with Cavalier Investments, LLC: only funds sharing at least a tenth of the book qualify. Index giants, bank custody books and market makers are excluded. They hold everything, so their overlap says nothing.
Bars show each position's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | State STR SPDR S&P 500 ETF T TR UNIT | $96.0M | 147.7K | 24.7% | ▲+108% Added · +77K sh | |
| 2 | Invesco QQQ TR UNIT SER 1 | $59.5M | 103.1K | 15.3% | ▲+259% Added · +74K sh | |
| 3 | United STS Oil FD LP UNITS | $15.5M | 121.8K | 4.0% | ▲New New position | |
| 4 | Kla Corp COM NEW | $14.3M | 9.7K | 3.7% | ▲New New position | |
| 5 | Vaneck ETF Trust SEMICONDUCTR ETF | $11.7M | 30.6K | 3.0% | ▼−17% Reduced · −6K sh | |
| 6 | Ishares 20 PLS Year Treasury BND ETF 20 YR TR BD ETF | $11.3M | 129.9K | 2.9% | ▲+21% Added · +22K sh | |
| 7 | SPDR Gold TR GOLD SHS | $10.8M | 25.1K | 2.8% | ▲+15% Added · +3K sh | |
| 8 | Select Sector SPDR TR STATE STREET COM | $10.6M | 95.6K | 2.7% | ▼−24% Reduced · −30K sh | |
| 9 | Lam Research Corp COM NEW | $9.2M | 42.9K | 2.4% | ▼−5.7% Reduced · −3K sh | |
| 10 | FT Vest Gold STRT TRGT Incm ETF FT VEST GOLD | $8.3M | 323.7K | 2.1% | ▲+38% Added · +88K sh | |
| 11 | Howmet Aerospace Ord COM | $8.1M | 35.0K | 2.1% | ▲+26% Added · +7K sh | |
| 12 | Vanguard Value ETF VALUE ETF | $7.9M | 40.2K | 2.0% | ▲New New position | |
| 13 | RTX Corporation COM | $7.8M | 40.6K | 2.0% | ▲New New position | |
| 14 | Nvidia Corporation COM | $7.6M | 43.4K | 2.0% | ▼−32% Reduced · −21K sh | |
| 15 | Western Digital Corp COM | $6.1M | 22.6K | 1.6% | ▼−72% Reduced · −59K sh | |
| 16 | Ishares TR U.S. INSRNCE ETF | $5.9M | 46.0K | 1.5% | ▲New New position | |
| 17 | Select Sector SPDR TR STATE STREET MAT | $5.8M | 115.6K | 1.5% | ▲New New position | |
| 18 | Vanguard FTSE Europe ETF FTSE EUROPE ETF | $5.4M | 65.1K | 1.4% | ▼−8.1% Reduced · −6K sh | |
| 19 | Ishares Silver TR ISHARES | $5.3M | 78.3K | 1.4% | ▲+561% Added · +66K sh | |
| 20 | Invesco Exchange Traded FD T PHARMACEUTICALS | $4.8M | 46.0K | 1.2% | ▲New New position | |
| 21 | iShares MSCI Austria ETF MSCI AUSTRIA ETF | $4.4M | 125.0K | 1.1% | ▲+150% Added · +75K sh | |
| 22 | Simplify Volatility Premium ETF VOLATILITY PREM | $4.0M | 260.5K | 1.0% | ▲New New position | |
| 23 | Ishares TR MSCI PERU AND GL | $3.7M | 46.1K | 1.0% | ▲New New position | |
| 24 | Select Sector SPDR TR STATE STREET UTI | $3.7M | 79.6K | 0.9% | ▲New New position | |
| 25 | ATT COM | $3.5M | 121.5K | 0.9% | ▼−8.2% Reduced · −11K sh | |
| 26 | SPDR S&P Aerospace STATE STREET SPD | $3.5M | 13.8K | 0.9% | —Held | |
| 27 | Ishares Semiconductor ETF ISHARES SEMICDTR | $3.5M | 10.6K | 0.9% | ▲New New position | |
| 28 | Palantir Technologies Inc CL A | $3.4M | 23.3K | 0.9% | ▼−6.8% Reduced · −2K sh | |
| 29 | Microstrategy CL A Ord CL A NEW | $3.3M | 26.2K | 0.8% | ▲+21% Added · +4K sh | |
| 30 | Albemarle Corp COM | $3.3M | 18.2K | 0.8% | ▲New New position | |
| 31 | Apple, Inc. COM | $3.1M | 12.2K | 0.8% | ▲+260% Added · +9K sh | |
| 32 | Cboe Global Markets Ord COM | $2.7M | 9.4K | 0.7% | ▼−7.9% Reduced · −808 sh | |
| 33 | UBS AG Etracs CD Ol CR CL Etn ETRACS CRUDE OIL | $2.7M | 46.0K | 0.7% | ▲+8.9% Added · +4K sh | |
| 34 | IESC COM | $2.6M | 5.6K | 0.7% | ▼−6.8% Reduced · −404 sh | |
| 35 | Vaneck Gold Miners ETF GOLD MINERS ETF | $2.6M | 28.3K | 0.7% | ▼−39% Reduced · −18K sh | |
| 36 | JPMorgan Chase & Co COM | $2.4M | 8.2K | 0.6% | ▼−77% Reduced · −28K sh | |
| 37 | Select Sector SPDR TR STATE STREET CON | $2.2M | 27.4K | 0.6% | ▲New New position | |
| 38 | Global X MSCI Argentina ETF GB MSCI AR ETF | $2.1M | 22.8K | 0.5% | ▼−8.2% Reduced · −2K sh | |
| 39 | Ishares Inc MSCI CHILE ETF | $1.8M | 46.0K | 0.5% | ▲New New position | |
| 40 | iShares MSCI Poland ETF MSCI POLAND ETF | $1.8M | 50.0K | 0.5% | ▼−8.2% Reduced · −4K sh | |
| 41 | SPDR Portfolio S&P 400 Mid Cap ETF STATE STREET SPD | $1.7M | 29.5K | 0.5% | ▼−6.6% Reduced · −2K sh | |
| 42 | Newmont Corporation COM | $1.6M | 14.9K | 0.4% | ▼−77% Reduced · −50K sh | |
| 43 | Freeport McMoran Inc CL B | $1.4M | 23.4K | 0.4% | ▲New New position | |
| 44 | iShares Global Infrastructure ETF GLB INFRASTR ETF | $1.3M | 19.8K | 0.3% | ▲New New position | |
| 45 | Ishares Inc MSCI STH KOR ETF | $1.3M | 10.7K | 0.3% | ▲New New position | |
| 46 | AROC COM | $1.1M | 31.9K | 0.3% | ▼−8.1% Reduced · −3K sh | |
| 47 | Eli Lilly Ord COM | $888K | 966 | 0.2% | —Held | |
| 48 | Ishares TR RUSSELL 2000 ETF | $839K | 3.4K | 0.2% | ▼−66% Reduced · −6K sh | |
| 49 | Facebook Inc CL A | $768K | 1.3K | 0.2% | ▼−6.0% Reduced · −85 sh | |
| 50 | Select Sector SPDR TR STATE STREET HEA | $685K | 4.7K | 0.2% | ▲New New position |
This market maker page is the Follow view. The Build view lets your agent pull holdings, quarter changes, overlap, and source filings through API or MCP.
curl -H "Authorization: Bearer YOUR_API_KEY" \ "https://arkolith.com/api/v1/funds/1655543/holdings"
Use Arkolith to show Cavalier Investments, LLC's latest holdings, largest changes, and filing provenance.
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| CALL · bullish | INVESCO QQQ TRUST SERIES 1QQQ | $750.3M | 1.3M |
| PUT · bearish | INVESCO QQQ TRUST SERIES 1QQQ | $721.5M | 1.3M |
| PUT · bearish | SS SPDR S&P 500 ETF TRUST-USSPY | $539.8M | 830K |
| CALL · bullish | SS SPDR S&P 500 ETF TRUST-USSPY | $390.2M | 600K |
| CALL · bullish | VANECK SEMICONDUCTOR ETFSMH | $98.8M | 258K |
| PUT · bearish | VANECK SEMICONDUCTOR ETFSMH | $91.1M | 238K |
| PUT · bearish | SPDR GOLD SHARESGLD | $60.2M | 140K |
| PUT · bearish | NVIDIA CORPNVDA | $57.6M | 330K |
| CALL · bullish | ISHARES RUSSELL 2000 ETFIWM | $49.6M | 200K |
| CALL · bullish | JPMORGAN CHASE & COJPM | $44.1M | 150K |
| CALL · bullish | SS ENERGY SELECT SECTORXLE | $30.6M | 500K |
| CALL · bullish | WESTERN DIGITAL CORPWDC | $30.3M | 112K |
| PUT · bearish | JPMORGAN CHASE & COJPM | $29.4M | 100K |
| CALL · bullish | SPDR GOLD SHARESGLD | $26.2M | 61K |
| PUT · bearish | SS COMM SELECT SECTOR SPDRXLC | $22.2M | 200K |
| PUT · bearish | UNITED STATES OIL FUND LPUSO | $19.3M | 152K |
| CALL · bullish | ROCKET LAB CORPRKLB | $19.3M | 300K |
| PUT · bearish | ISHARES BITCOIN TRUST ETFIBIT | $19.2M | 500K |
| PUT · bearish | TESLA INCTSLA | $18.6M | 50K |
| CALL · bullish | TESLA INCTSLA | $18.6M | 50K |
| CALL · bullish | SS CONSUMER STAPLES SEL SECTXLP | $17.2M | 210K |
| PUT · bearish | WESTERN DIGITAL CORPWDC | $16.8M | 62K |
| CALL · bullish | ISHARES SILVER TRUSTSLV | $16.7M | 245K |
| CALL · bullish | SS INDUSTRIAL SELECT SECTORXLI | $16.2M | 100K |
| CALL · bullish | ISHARES MSCI SOUTH KOREA ETFEWY | $15.4M | 125K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the non-option book, weighting, concentration and sector figures above. Showing the largest 25 of 52 option legs.
As-of date vs the date the SEC received each filing
Reported 13F total per quarter, log scale (the range spans more than 20x). Raw filing totals can include option notional.
| Quarter | As of | Filed | Lag | Positions | Value | Form |
|---|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 15, 2026 | 45d | 112 | $3.7B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 13, 2026 | 44d | 87 | $1.9B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 45d | 107 | $1.2B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Jul 30, 2025 | 30d | 71 | $330.0M | 13F-HR |
| Q1 2025 | Mar 31, 2025 | Apr 24, 2025 | 24d | 75 | $294.3M | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 4, 2025 | 35d | 74 | $299.3M | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Oct 24, 2024 | 24d | 84 | $326.0M | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 2, 2024 | 33d | 79 | $324.9M | 13F-HR |
| Q1 2024 | Mar 31, 2024 | Apr 26, 2024 | 26d | 81 | $274.0M | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 13, 2024 | 44d | 90 | $271.6M | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Oct 23, 2023 | 23d | 93 | $255.5M | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 11, 2023 | 42d | 94 | $274.7M | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 10, 2023 | 40d | 62 | $244.6M | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 10, 2023 | 41d | 98 | $278.6M | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 10, 2022 | 41d | 95 | $276.8M | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 4, 2022 | 35d | 97 | $286.0M | 13F-HR |
| Q1 2022 | Mar 31, 2022 | May 4, 2022 | 34d | 100 | $382.5M | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 2, 2022 | 33d | 112 | $385.1M | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 2, 2021 | 33d | 98 | $316.7M | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 11, 2021 | 42d | 94 | $277.3M | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 13, 2021 | 43d | 103 | $229.9M | 13F-HR |
| Q4 2020 | Dec 31, 2020 | Feb 12, 2021 | 43d | 98 | $218.8M | 13F-HR |
| Q3 2020 | Sep 30, 2020 | Nov 12, 2020 | 43d | 68 | $147.1M | 13F-HR |
| Q2 2020 | Jun 30, 2020 | Aug 10, 2020 | 41d | 69 | $173.1M | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly, filed up to 45 days after quarter-end. Public domain. Book totals and portfolio weights cover reported non-option positions, which can include notes and warrants. Disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.