Cavalier Investments, LLC

Portfolio Overview

Cavalier Investments, LLC disclosed 70 positions worth $2.4B in its Form 13F-HR for Q2 2026 — $271.7M in common stock plus $2.1B of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) calls, followed by $QQQ. During the quarter the fund opened 14 new positions and exited 56. The portfolio is most concentrated in Other (84.7% of disclosed assets). All figures are sourced directly from Cavalier Investments, LLC’s Form 13F-HR filing with the SEC under CIK 1655543.

• 

  SPDR S&P 500 ETF TRUST

  $SPY CALL

  —

  Quality

  $567.5M760,000 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ CALL

  —

  Quality

  $446.1M605,800 sh

• VANECK ETF TRUST - SEMICONDUCTR ETF CALL

  —

  Quality

  $373.9M570,000 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ PUT

  —

  Quality

  $230.0M312,300 sh

• VANECK ETF TRUST - SEMICONDUCTR ETF PUT

  —

  Quality

  $93.5M142,500 sh
• 

  SPDR S&P 500 ETF TRUST

  $SPY PUT

  —

  Quality

  $74.9M100,300 sh

• SELECT SECTOR SPDR TR - ST STR TECHN ETF PUT

  —

  Quality

  $61.9M325,000 sh

• SELECT SECTOR SPDR TR - ST STR TECHN ETF

  —

  Quality

  $44.0M231,176 sh

• SELECT SECTOR SPDR TR - ST STR TECHN ETF CALL

  —

  Quality

  $38.1M200,000 sh
• 

  NVIDIA CORP

  $NVDA PUT

  85.9

  Quality

  $36.0M180,000 sh

Company	Quality	Value	Shares
SPDR S&P 500 ETF TRUST$SPYCALL	—	$567.5M	760,000
INVESCO QQQ TRUST, SERIES 1$QQQCALL	—	$446.1M	605,800
VANECK ETF TRUST - SEMICONDUCTR ETF CALL	—	$373.9M	570,000
INVESCO QQQ TRUST, SERIES 1$QQQPUT	—	$230.0M	312,300
VANECK ETF TRUST - SEMICONDUCTR ETF PUT	—	$93.5M	142,500
SPDR S&P 500 ETF TRUST$SPYPUT	—	$74.9M	100,300
SELECT SECTOR SPDR TR - ST STR TECHN ETF PUT	—	$61.9M	325,000
SELECT SECTOR SPDR TR - ST STR TECHN ETF	—	$44.0M	231,176
SELECT SECTOR SPDR TR - ST STR TECHN ETF CALL	—	$38.1M	200,000
NVIDIA CORP$NVDAPUT	85.9	$36.0M	180,000

Showing top 10 of 70 holdings.

Full Holdings — Cavalier Investments, LLC (Q2 2026)

All 70 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$SPYCALL	SPDR S&P 500 ETF TRUST	$567.5M	—	+27%	—
2	$QQQCALL	INVESCO QQQ TRUST, SERIES 1	$446.1M	—	-53%	—
3	—	VANECK ETF TRUST - SEMICONDUCTR ETF	$373.9M	—	+121%	—
4	$QQQPUT	INVESCO QQQ TRUST, SERIES 1	$230.0M	—	-75%	—
5	—	VANECK ETF TRUST - SEMICONDUCTR ETF	$93.5M	—	-40%	—
6	$SPYPUT	SPDR S&P 500 ETF TRUST	$74.9M	—	-88%	—
7	—	SELECT SECTOR SPDR TR - ST STR TECHN ETF	$61.9M	—	NEW	—
8	—	SELECT SECTOR SPDR TR - ST STR TECHN ETF	$44.0M	16.2%	NEW	—
9	—	SELECT SECTOR SPDR TR - ST STR TECHN ETF	$38.1M	—	NEW	—
10	$NVDAPUT	NVIDIA CORP	$36.0M	—	-45%	85.9
11	—	SELECT SECTOR SPDR TR - ST STR INDL ETF	$27.8M	—	+50%	—
12	$TSLACALL	Tesla, Inc.	$25.2M	—	+20%	53.6
13	$WDCCALL	WESTERN DIGITAL CORP	$20.3M	—	-72%	80.5
14	$NVDA	NVIDIA CORP	$18.5M	6.8%	+113%	85.9
15	$SPY	SPDR S&P 500 ETF TRUST	$18.2M	6.7%	-84%	—
16	—	VANGUARD INTL EQUITY INDEX F - FTSE EMR MKT ETF	$17.7M	6.5%	NEW	—
17	—	SELECT SECTOR SPDR TR - ST STR STAPL ETF	$17.4M	—	+0%	—
18	—	SELECT SECTOR SPDR TR - ST STR CARE ETF	$17.1M	6.3%	+2210%	—
19	—	SELECT SECTOR SPDR TR - ST STR MATER ETF	$15.2M	—	+0%	—
20	$QQQ	INVESCO QQQ TRUST, SERIES 1	$15.0M	5.5%	-80%	—
21	$NVDACALL	NVIDIA CORP	$14.4M	—	+44%	85.9
22	—	ISHARES TR - 20 YR TR BD ETF	$14.4M	5.3%	+28%	—
23	$HWMPUT	Howmet Aerospace Inc.	$13.4M	—	+150%	73.6
24	—	ISHARES INC - MSCI STH KOR ETF	$12.1M	—	-52%	—
25	—	ISHARES TR - GLB INFRASTR ETF	$11.2M	4.1%	+749%	—
26	—	SELECT SECTOR SPDR TR - ST STR ENERG ETF	$10.6M	—	-60%	—
27	—	VANGUARD INDEX FDS - VALUE ETF	$10.3M	3.8%	+17%	—
28	—	ISHARES TR - MSCI USA MMENTM	$10.2M	3.7%	NEW	—
29	$GLDPUT	SPDR GOLD TRUST	$9.2M	—	-82%	—
30	$GLDCALL	SPDR GOLD TRUST	$9.2M	—	-59%	—
31	$HWM	Howmet Aerospace Inc.	$9.0M	3.3%	-4%	73.6
32	—	SELECT SECTOR SPDR TR - ST STR CARE ETF	$7.9M	—	-33%	—
33	—	SELECT SECTOR SPDR TR - ST STR INDL ETF	$7.9M	2.9%	NEW	—
34	—	ISHARES TR - EAFE VALUE ETF	$7.7M	2.8%	NEW	—
35	—	FIRST TR EXCHANGE-TRADED FD - FT VEST GOLD	$6.8M	2.5%	+0%	—
36	—	ISHARES TR - ISHARES SEMICDTR	$6.6M	2.4%	-3%	—
37	—	ISHARES TR - ISHARES SEMICDTR	$6.5M	—	NEW	—
38	$GLD	SPDR GOLD TRUST	$6.4M	2.4%	-30%	—
39	—	VANGUARD INTL EQUITY INDEX F - FTSE EUROPE ETF	$5.7M	2.1%	-1%	—
40	$RTXCALL	RTX Corp	$5.7M	—	NEW	73.1
41	—	VANGUARD INDEX FDS - REAL ESTATE ETF	$5.4M	2.0%	NEW	—
42	—	SELECT SECTOR SPDR TR - ST STR MATER ETF	$5.3M	2.0%	-10%	—
43	—	ISHARES INC - MSCI STH KOR ETF	$5.0M	—	NEW	—
44	—	ISHARES TR - MSCI USA VALUE	$4.9M	1.8%	NEW	—
45	—	SPDR SERIES TRUST - ST STR SP AERO	$3.9M	1.4%	+0%	—
46	$IBIT	iShares Bitcoin Trust ETF	$3.9M	1.4%	+624%	—
47	$IBITPUT	iShares Bitcoin Trust ETF	$3.9M	—	-77%	—
48	—	VANECK ETF TRUST - GOLD MINERS ETF	$2.9M	1.1%	+34%	—
49	$MSTR	Strategy Inc	$2.8M	1.1%	+25%	17.6
50	$MSTRPUT	Strategy Inc	$2.8M	—	+27%	17.6
51	$USOCALL	United States Oil Fund, LP	$2.7M	—	-74%	—
52	—	SELECT SECTOR SPDR TR - ST STR STAPL ETF	$2.3M	0.8%	-1%	—
53	$YMMCALL	Full Truck Alliance Co. Ltd.	$2.2M	—	+0%	—
54	—	UBS AG - ETRA CRU OIL SHS	$2.0M	0.7%	+0%	—
55	—	ISHARES TR - EXPANDED TECH	$1.8M	0.7%	NEW	—
56	—	SPDR SERIES TRUST - ST STR P400MID	$1.8M	0.7%	-11%	—
57	—	SELECT SECTOR SPDR TR - ST STR FINL ETF	$1.4M	0.5%	+361%	—
58	—	SELECT SECTOR SPDR TR - ST STR UTIL ETF	$1.1M	0.4%	-69%	—
59	$USARCALL	USA Rare Earth, Inc.	$1.1M	—	-67%	15.9
60	$RGTICALL	Rigetti Computing, Inc.	$966,000	—	-88%	14.2
61	—	TIDAL TRUST II - YIELDMAX GOOGL	$822,727	0.3%	+34%	—
62	—	ISHARES TR - RUSSELL 2000 ETF	$642,663	0.2%	-37%	—
63	—	TIDAL TRUST II - YIELDMAX AAPL	$638,340	0.2%	+34%	—
64	$SLV	iShares Silver Trust	$633,406	0.2%	-85%	—
65	—	VANECK ETF TRUST - SEMICONDUCTR ETF	$605,386	0.2%	-97%	—
66	—	TIDAL TRUST II - YIELDMAX NVDA	$546,974	0.2%	+34%	—
67	—	TIDAL TRUST II - YIELD AMZN ETF	$503,551	0.2%	+34%	—
68	—	TIDAL TRUST II - YIELD MSFT ETF	$445,854	0.2%	+35%	—
69	—	TIDAL TRUST II - YIELDMAX META	$400,180	0.1%	+34%	—
70	$RKLB	Rocket Lab Corp	$202,080	0.1%	NEW	39.7