# EDGAR Filing Document

**Accession Number:** 0001655543
**File Stem:** 0001655543-26-000001
**Filing Date:** 2026-2
**Character Count:** 13080
**Document Hash:** 524eb783bd22b2197ac74c086959ff09
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655543-26-000001.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001655543-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cavalier Investments, LLC
- **CENTRAL INDEX KEY:** 0001655543

**ORGANIZATION NAME:**
- **EIN:** 474698780
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17041
- **FILM NUMBER:** 26630310

**BUSINESS ADDRESS:**
- **STREET 1:** 12600 DEERFIELD PARKWAY
- **STREET 2:** SUITE #100
- **CITY:** ALPHARETTA
- **STATE:** GA
- **ZIP:** 30004
- **BUSINESS PHONE:** 770-777-8277

**MAIL ADDRESS:**
- **STREET 1:** 12600 DEERFIELD PARKWAY
- **STREET 2:** SUITE #100
- **CITY:** ALPHARETTA
- **STATE:** GA
- **ZIP:** 30004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cavalier Investments
- **DATE OF NAME CHANGE:** 20151014

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Cavalier Investments LLC<br>**Address:** 12600 DEERFIELD PARKWAY<br>SUITE #100<br>ALPHARETTA, GA 30004

**Form 13F File Number:** 028-17041

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Brian MacKenzie<br>**Title:** Chief Compliance Officer<br>**Phone:** (720) 798-4847

**Signature, Place, and Date of Signing:**

Brian MacKenzie  Denver, CO  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 87

**Form 13F Information Table Value Total:** $1946083975

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AT Inc | COM | 00206R102 |  | 3285761 | 132277 | SH |  | SOLE |  | 132277 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 876654 | 3798 | SH |  | SOLE |  | 3798 | 0 | 0 |
| Apple Inc | COM | 037833100 |  | 924052 | 3399 | SH |  | SOLE |  | 3399 | 0 | 0 |
| Archrock Inc | COM | 03957W106 |  | 904455 | 34760 | SH |  | SOLE |  | 34760 | 0 | 0 |
| Badger Meter Inc | COM | 056525108 |  | 1192441 | 6837 | SH |  | SOLE |  | 6837 | 0 | 0 |
| Boston Scientific Co rp | COM | 101137107 |  | 431745 | 4528 | SH |  | SOLE |  | 4528 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 9830585 | 103100 | SH | Call | SOLE |  | 103100 | 0 | 0 |
| Cboe Global Markets Inc | COM | 12503M108 |  | 2573252 | 10252 | SH |  | SOLE |  | 10252 | 0 | 0 |
| CONSTELLATION ENERGY | COM | 21037T109 |  | 712546 | 2017 | SH |  | SOLE |  | 2017 | 0 | 0 |
| X-Links Crude Oil Sh ares Covered Call ET | ETRACS CRUDE OIL | 22539U602 |  | 1999671 | 42254 | SH |  | SOLE |  | 42254 | 0 | 0 |
| META PLATFORMS INC. | CL A | 30303M102 |  | 941948 | 1427 | SH |  | SOLE |  | 1427 | 0 | 0 |
| FT Vest Gold Strateg y Target Income ETF | FT VEST GOLD | 33733E856 |  | 5886028 | 235347 | SH |  | SOLE |  | 235347 | 0 | 0 |
| General Electric Co | COM NEW | 369604301 |  | 18689412 | 60674 | SH |  | SOLE |  | 60674 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 23102250 | 75000 | SH | Call | SOLE |  | 75000 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 30803000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| Global X MSCI Argent ina ETF | GB MSCI AR ETF | 37950E259 |  | 2265231 | 24781 | SH |  | SOLE |  | 24781 | 0 | 0 |
| Global X MSCI Colomb ia ETF | GLBX MSCI COLUM | 37954Y327 |  | 619281 | 17376 | SH |  | SOLE |  | 17376 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 5707962 | 27841 | SH |  | SOLE |  | 27841 | 0 | 0 |
| IES Holdings Inc | COM | 44951W106 |  | 2320115 | 5964 | SH |  | SOLE |  | 5964 | 0 | 0 |
| Invesco QQQ Trust Se ries 1 | UNIT SER 1 | 46090E103 |  | 17650969 | 28733 | SH |  | SOLE |  | 28733 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 309735102 | 504200 | SH | Call | SOLE |  | 504200 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 217281447 | 353700 | SH | Put | SOLE |  | 353700 | 0 | 0 |
| IonQ Inc | COM | 46222L108 |  | 826505 | 18420 | SH |  | SOLE |  | 18420 | 0 | 0 |
| IONQ INC | COM | 46222L108 |  | 8974000 | 200000 | SH | Call | SOLE |  | 200000 | 0 | 0 |
| ISHARES MSCI AUSTRIA | MSCI AUSTRIA ETF | 464286202 |  | 1773500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 9381554 | 107636 | SH |  | SOLE |  | 107636 | 0 | 0 |
| iShares Russell 2000 ETF | RUSSELL 2000 ETF | 464287655 |  | 2420737 | 9834 | SH |  | SOLE |  | 9834 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 73848000 | 300000 | SH | Call | SOLE |  | 300000 | 0 | 0 |
| iShares Silver Trust | ISHARES | 46428Q109 |  | 763119 | 11846 | SH |  | SOLE |  | 11846 | 0 | 0 |
| iShares MSCI Poland ETF | MSCI POLAND ETF | 46429B606 |  | 1917433 | 54488 | SH |  | SOLE |  | 54488 | 0 | 0 |
| iShares Bitcoin Trus t | SHS BEN INT | 46438F101 |  | 3584234 | 72190 | SH |  | SOLE |  | 72190 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 7149600 | 144000 | SH | Call | SOLE |  | 144000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 3574800 | 72000 | SH | Put | SOLE |  | 72000 | 0 | 0 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 11808719 | 36648 | SH |  | SOLE |  | 36648 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 32222000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| Lam Research Corp | COM NEW | 512807306 |  | 7781672 | 45459 | SH |  | SOLE |  | 45459 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 17973900 | 105000 | SH | Call | SOLE |  | 105000 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 25677000 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| Eli Lilly  Co | COM | 532457108 |  | 1038141 | 966 | SH |  | SOLE |  | 966 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 9266159 | 19160 | SH |  | SOLE |  | 19160 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 12090500 | 25000 | SH | Put | SOLE |  | 25000 | 0 | 0 |
| MicroStrategy Inc | CL A NEW | 594972408 |  | 3299138 | 21712 | SH |  | SOLE |  | 21712 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 303900 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 |  | 3236535 | 21300 | SH | Put | SOLE |  | 21300 | 0 | 0 |
| NRG Energy Inc | COM NEW | 629377508 |  | 281377 | 1767 | SH |  | SOLE |  | 1767 | 0 | 0 |
| Newmont Corp. | COM | 651639106 |  | 6460195 | 64699 | SH |  | SOLE |  | 64699 | 0 | 0 |
| Novo Nordisk A/S | ADR | 670100205 |  | 511293 | 10049 | SH |  | SOLE |  | 10049 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 3816000 | 75000 | SH | Call | SOLE |  | 75000 | 0 | 0 |
| NVIDIA Corp | COM | 67066G104 |  | 11932084 | 63979 | SH |  | SOLE |  | 63979 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 27975000 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| Palantir Technologie s Inc | CL A | 69608A108 |  | 4445528 | 25010 | SH |  | SOLE |  | 25010 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 17775000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| Reddit Inc | CL A | 75734B100 |  | 11776240 | 51230 | SH |  | SOLE |  | 51230 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 11493500 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| Rigetti Computing In c | COMMON STOCK | 76655K103 |  | 593332 | 26787 | SH |  | SOLE |  | 26787 | 0 | 0 |
| SPDR S 500 ETF Tru st | TR UNIT | 78462F103 |  | 48320169 | 70859 | SH |  | SOLE |  | 70859 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 238672000 | 350000 | SH | Call | SOLE |  | 350000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 383511808 | 562400 | SH | Put | SOLE |  | 562400 | 0 | 0 |
| SPDR Gold Shares | GOLD SHS | 78463V107 |  | 8671263 | 21880 | SH |  | SOLE |  | 21880 | 0 | 0 |
| SPDR NYSE Technology ETF | STATE STREET SPD | 78464A102 |  | 8545922 | 30754 | SH |  | SOLE |  | 30754 | 0 | 0 |
| SPDR Portfolio S 5 00 Growth ETF | STATE STREET SPD | 78464A409 |  | 3817726 | 35780 | SH |  | SOLE |  | 35780 | 0 | 0 |
| State Street SPDR Aerospace  Defense | STATE STREET SPD | 78464A631 |  | 3330077 | 13804 | SH |  | SOLE |  | 13804 | 0 | 0 |
| State Street SPDR S Capital Markets | STATE STREET SPD | 78464A771 |  | 3947336 | 26328 | SH |  | SOLE |  | 26328 | 0 | 0 |
| SPDR Portfolio S 4 00 Mid Cap ETF | STATE STREET SPD | 78464A847 |  | 1832214 | 31639 | SH |  | SOLE |  | 31639 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 17028000 | 110000 | SH | Call | SOLE |  | 110000 | 0 | 0 |
| Consumer Discretiona ry Select Sector SPD | STATE STREET CON | 81369Y407 |  | 2222578 | 18613 | SH |  | SOLE |  | 18613 | 0 | 0 |
| Financial Select Sec tor SPDR Fund | STATE STREET FIN | 81369Y605 |  | 8273501 | 151059 | SH |  | SOLE |  | 151059 | 0 | 0 |
| Technology Select Se ctor SPDR Fund | STATE STREET TEC | 81369Y803 |  | 2950233 | 20492 | SH |  | SOLE |  | 20492 | 0 | 0 |
| Communication Servic es Select Sector SPD | STATE STREET COM | 81369Y852 |  | 14772683 | 125490 | SH |  | SOLE |  | 125490 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 11772000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| Tesla Inc | COM | 88160R101 |  | 7232397 | 16082 | SH |  | SOLE |  | 16082 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 13491600 | 30000 | SH | Call | SOLE |  | 30000 | 0 | 0 |
| YieldMax MSFT Option Income Strategy ETF | YIELDMAX MSFT OP | 88634T428 |  | 399769 | 25875 | SH |  | SOLE |  | 25875 | 0 | 0 |
| YieldMax NVDA Option Income Strategy ETF | YIELDMAX NVDA | 88634T774 |  | 393272 | 26918 | SH |  | SOLE |  | 26918 | 0 | 0 |
| YieldMax GOOGL Optio n Income Strategy ET | YIELDMAX GOOGL | 88634T790 |  | 551705 | 37788 | SH |  | SOLE |  | 37788 | 0 | 0 |
| Yieldmax Meta Option Income Strategy ETF | YIELDMAX META | 88634T816 |  | 343585 | 27247 | SH |  | SOLE |  | 27247 | 0 | 0 |
| Yieldmax Amzn Option Income ETF | YIELDMAX AMZN OP | 88634T840 |  | 381601 | 28735 | SH |  | SOLE |  | 28735 | 0 | 0 |
| YieldMax AAPL Option Income Strategy ETF | YIELDMAX AAPL | 88634T857 |  | 449061 | 33688 | SH |  | SOLE |  | 33688 | 0 | 0 |
| VanEck Vectors Gold Miners ETF | GOLD MINERS ETF | 92189F106 |  | 3983245 | 46441 | SH |  | SOLE |  | 46441 | 0 | 0 |
| VanEck Vectors Semic onductor ETF | SEMICONDUCTR ETF | 92189F676 |  | 13228295 | 36732 | SH |  | SOLE |  | 36732 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 97235100 | 270000 | SH | Call | SOLE |  | 270000 | 0 | 0 |
| Vanguard FTSE Europe ETF | FTSE EUROPE ETF | 922042874 |  | 5920759 | 70814 | SH |  | SOLE |  | 70814 | 0 | 0 |
| Vanguard Financials ETF | FINANCIALS ETF | 92204A405 |  | 9765327 | 73154 | SH |  | SOLE |  | 73154 | 0 | 0 |
| Vistra Energy Corp | COM | 92840M102 |  | 1332102 | 8257 | SH |  | SOLE |  | 8257 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 12099750 | 75000 | SH | Call | SOLE |  | 75000 | 0 | 0 |
| Western Digital Corp | COM | 958102105 |  | 14122695 | 81980 | SH |  | SOLE |  | 81980 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 13781600 | 80000 | SH | Put | SOLE |  | 80000 | 0 | 0 |

---