Cavalier Investments 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Adobe Systems Inc	COM	00724F101	2,693	9,750	SH		OTR	1	9,750	0	0
Adobe Systems Inc	COM	00724F101	342	1,239	SH		SOLE		1,239	0	0
Alphabet Inc	COM	02079K107	335	275	SH		SOLE		275	0	0
Amazon.com Inc	COM	023135106	1,389	800	SH		OTR	1	800	0	0
Appfolio Inc	COM	03783C100	913	9,600	SH		OTR	1	9,600	0	0
Arbor Realty Trust I nc	COM	038923108	2,603	198,528	SH		OTR	1	198,528	0	0
ARCH CAPITAL GROUP	COM	G0450A105	311	7,400	SH		OTR	1	7,400	0	0
Atlassian Corp PLC	COM	G06242104	552	4,400	SH		OTR	1	4,400	0	0
AudioCodes Ltd	COM	M15342104	1,583	83,699	SH		OTR	1	83,699	0	0
Automatic Data Proce ssing Inc	COM	053015103	337	2,087	SH		SOLE		2,087	0	0
AutoZone Inc	COM	053332102	976	900	SH		OTR	1	900	0	0
AZUL S.A.	COM	05501U106	430	12,000	SH		OTR	1	12,000	0	0
Biospecifics Technol gies Corp.	COM	090931106	417	7,800	SH		OTR	1	7,800	0	0
Booz Allen Hamilton Holding Corp	COM	099502106	504	7,100	SH		OTR	1	7,100	0	0
Cadence Design Syste ms Inc	COM	127387108	2,121	32,100	SH		OTR	1	32,100	0	0
Capital Southwest Corp	COM	140501107	2,119	97,200	SH		OTR	1	97,200	0	0
Chipotle Mexican Gri ll Inc	COM	169656105	2,521	3,000	SH		OTR	1	3,000	0	0
Ciena Corp	COM	171779309	604	15,400	SH		OTR	1	15,400	0	0
COCA COLA EUROPEAN P	COM	G25839104	444	8,000	SH		OTR	1	8,000	0	0
Communication Servic es Select Sector SPD	ETF	81369Y852	3,213	64,881	SH		SOLE		64,881	0	0
Consumer Discretiona ry Select Sector SPD	ETF	81369Y407	6,739	55,830	SH		SOLE		55,830	0	0
Consumer Staples Sel ect Sector SPDR Fund	ETF	81369Y308	5,304	86,358	SH		SOLE		86,358	0	0
Consumer Staples Sel ect Sector SPDR Fund	ETF	81369Y308	3,244	52,815	SH		SOLE		52,815	0	0
Copart Inc	COM	217204106	747	9,300	SH		OTR	1	9,300	0	0
Costco Wholesale Cor p	COM	22160K105	2,074	7,200	SH		OTR	1	7,200	0	0
CyberArk Software Lt d	COM	M2682V108	2,272	22,756	SH		OTR	1	22,756	0	0
Darden Restaurants I nc	COM	237194105	828	7,000	SH		OTR	1	7,000	0	0
DEXCOM INC COM	COM	252131107	522	3,500	SH		OTR	1	3,500	0	0
DMC Global Inc.	COM	23291C103	800	18,200	SH		OTR	1	18,200	0	0
DUCOMMUN INC	COM	264147109	696	16,410	SH		OTR	1	16,410	0	0
Energy Select Sector SPDR Fund	ETF	81369Y506	3,257	55,014	SH		SOLE		55,014	0	0
Etsy Inc	COM	29786A106	396	7,000	SH		OTR	1	7,000	0	0
Euronet Worldwide In c	COM	298736109	600	4,100	SH		OTR	1	4,100	0	0
EVERTEC Inc	COM	30040P103	946	30,300	SH		OTR	1	30,300	0	0
Facebook Inc	COM	30303M102	343	1,925	SH		SOLE		1,925	0	0
Fair Isaac Corp	COM	303250104	455	1,500	SH		OTR	1	1,500	0	0
Federal Signal Corp	COM	313855108	1,987	60,700	SH		OTR	1	60,700	0	0
Financial Select Sec tor SPDR Fund	ETF	81369Y605	3,692	131,827	SH		SOLE		131,827	0	0
Financial Select Sec tor SPDR Fund	ETF	81369Y605	3,224	115,103	SH		SOLE		115,103	0	0
Fortinet Inc	COM	34959E109	2,491	32,450	SH		OTR	1	32,450	0	0
Fox Factory Holding Corp	COM	35138V102	747	12,000	SH		OTR	1	12,000	0	0
FUNKO INC CLASS A	COM	361008105	298	14,500	SH		OTR	1	14,500	0	0
Globant SA	COM	L44385109	632	6,900	SH		OTR	1	6,900	0	0
GOLDMAN SACHS ACCESS HY CORP ETF	ETF	381430453	12,436	252,000	SH		SOLE		252,000	0	0
GREAT AJAX CORP	COM	38983D300	383	24,706	SH		OTR	1	24,706	0	0
Health Care Select S ector SPDR Fund	ETF	81369Y209	6,040	67,016	SH		SOLE		67,016	0	0
HEICO Corp	COM	422806109	1,327	10,625	SH		OTR	1	10,625	0	0
Iec Electronics Corp	COM	44949L105	18	2,652	SH		OTR	1	2,652	0	0
Industrial Select Se ctor SPDR Fund	ETF	81369Y704	5,057	65,138	SH		SOLE		65,138	0	0
Innovative Industria l Properties Inc	COM	45781V101	499	5,400	SH		OTR	1	5,400	0	0
Invesco QQQ Trust Se ries 1	COM	46090E103	3,226	17,085	SH		SOLE		17,085	0	0
iShares 1-3 Year Tre asury Bond ETF	ETF	464287457	1,258	14,834	SH		SOLE		14,834	0	0
iShares 1-3 Year Treasury Bond ETF	ETF	464287457	1,478	17,430	SH		SOLE		17,430	0	0
iShares Core S&P 500 ETF	ETF	464287200	4,419	14,802	SH		SOLE		14,802	0	0
iShares Core S&P Mid -Cap ETF	ETF	464287507	3,159	16,350	SH		SOLE		16,350	0	0
Ishares Core S&P Mid -Cap Etf	ETF	464287507	1,848	9,564	SH		SOLE		9,564	0	0
iShares Edge MSCI Mi n Vol USA ETF	ETF	46429B697	6,044	94,360	SH		SOLE		94,360	0	0
iShares Edge MSCI Mi n Vol USA ETF	ETF	46429B697	4,568	71,323	SH		SOLE		71,323	0	0
Ishares Edge Msci Min Vol Usa Etf	ETF	46429B697	2,125	33,154	SH		SOLE		33,154	0	0
iShares MSCI Brazil ETF	ETF	464286400	1,908	45,267	SH		SOLE		45,267	0	0
ISHARES MSCI CHINA ETF	ETF	46429B671	2,355	41,987	SH		SOLE		41,987	0	0
iShares MSCI Turkey ETF	ETF	464286715	2,097	78,488	SH		SOLE		78,488	0	0
iShares Russell 2000 ETF	ETF	464287655	2,301	15,205	SH		SOLE		15,205	0	0
iShares Russell 2000 ETF	ETF	464287655	1,386	9,158	SH		SOLE		9,158	0	0
iShares S&P 500 ETF	ETF	464287200	2,125	7,119	SH		SOLE		7,119	0	0
iShares U.S. Real Es tate ETF	ETF	464287739	3,221	34,461	SH		SOLE		34,461	0	0
Jernigan Capital, Inc.	COM	476405105	385	20,000	SH		OTR	1	20,000	0	0
Keysight Technologie s Inc	COM	49338L103	895	9,200	SH		OTR	1	9,200	0	0
Kinsale Capital Grou p Inc	COM	49714P108	300	2,900	SH		OTR	1	2,900	0	0
KORNIT DIGITAL LMTD	COM	M6372Q113	656	21,300	SH		OTR	1	21,300	0	0
LAMAR ADVERTISING	COM	512816109	451	5,500	SH		OTR	1	5,500	0	0
LHC Group Inc	COM	50187A107	261	2,300	SH		OTR	1	2,300	0	0
Lululemon Athletica Inc	COM	550021109	2,657	13,800	SH		OTR	1	13,800	0	0
Mastercard Inc	COM	57636Q104	2,200	8,100	SH		OTR	1	8,100	0	0
Match Group Inc	COM	57665R106	672	9,400	SH		OTR	1	9,400	0	0
Materials Select Sec tor SPDR Fund	ETF	81369Y100	5,733	98,506	SH		SOLE		98,506	0	0
Materials Select Sec tor SPDR Fund	ETF	81369Y100	3,251	55,858	SH		SOLE		55,858	0	0
Medpace Holdings Inc	COM	58506Q109	815	9,700	SH		OTR	1	9,700	0	0
Mellanox Technologie s Ltd	COM	M51363113	1,118	10,200	SH		OTR	1	10,200	0	0
Microsoft Corp	COM	594918104	391	2,813	SH		SOLE		2,813	0	0
Napco Security Techn ologies Inc	COM	630402105	222	8,700	SH		OTR	1	8,700	0	0
NEWTEK BUSINESS SVSC COPRT	COM	652526203	632	28,000	SH		OTR	1	28,000	0	0
Nice Ltd	COM	653656108	1,352	9,400	SH		OTR	1	9,400	0	0
NIKE Inc	COM	654106103	350	3,724	SH		SOLE		3,724	0	0
NMI Holdings Inc	COM	629209305	733	27,900	SH		OTR	1	27,900	0	0
NORTH AMERICAN CONST	COM	656811106	248	21,500	SH		OTR	1	21,500	0	0
O'Reilly Automotive Inc	COM	67103H107	342	859	SH		SOLE		859	0	0
Par Pacific Holdings	COM	69888T207	469	20,500	SH		OTR	1	20,500	0	0
Paycom Software Inc	COM	70432V102	3,069	14,650	SH		OTR	1	14,650	0	0
Paysign Inc	COM	70451A104	563	55,700	SH		SOLE		55,700	0	0
PennyMac Financial S ervices Inc	COM	70932M107	283	9,300	SH		OTR	1	9,300	0	0
Progressive Corp/The	COM	743315103	1,615	20,900	SH		OTR	1	20,900	0	0
Qualys Inc	COM	74758T303	1,186	15,700	SH		OTR	1	15,700	0	0
QuinStreet Inc	COM	74874Q100	448	35,600	SH		OTR	1	35,600	0	0
RenaissanceRe Holdings Ltd	COM	G7496G103	464	2,400	SH		OTR	1	2,400	0	0
Repligen Corp	COM	759916109	383	5,000	SH		OTR	1	5,000	0	0
RESTAURANT BRAND INT	COM	76131D103	2,490	35,000	SH		OTR	1	35,000	0	0
Ross Stores Inc	COM	778296103	1,340	12,200	SH		OTR	1	12,200	0	0
Sapiens I'ntl Corporation N.V.	COM	G7T16G103	909	46,300	SH		OTR	1	46,300	0	0
ServiceNow Inc	COM	81762P102	2,259	8,900	SH		OTR	1	8,900	0	0
SIMULATIONS PLUS INC	COM	829214105	281	8,100	SH		OTR	1	8,100	0	0
SPDR Bloomberg Barcl ays High Yield Bond	ETF	78468R622	4,153	38,190	SH		SOLE		38,190	0	0
SPDR S&P 500 ETF Tru st	ETF	78462F103	2,018	6,799	SH		SOLE		6,799	0	0
SPDR S&P Retail ETF	ETF	78464A714	2,889	68,081	SH		SOLE		68,081	0	0
Starbucks Corp	COM	855244109	397	4,494	SH		SOLE		4,494	0	0
SUN COMMUNITIES	COM	866674104	1,024	6,900	SH		OTR	1	6,900	0	0
Technology Select Se ctor SPDR Fund	ETF	81369Y803	5,397	67,020	SH		SOLE		67,020	0	0
Technology Select Se ctor SPDR Fund	ETF	81369Y803	3,224	40,038	SH		SOLE		40,038	0	0
TransDigm Group Inc	COM	893641100	677	1,300	SH		OTR	1	1,300	0	0
Twitter Inc	COM	90184L102	1,236	30,000	SH		OTR	1	30,000	0	0
Ubiquiti Inc	COM	90353W103	1,585	13,400	SH		OTR	1	13,400	0	0
UFP Technologies Inc	COM	902673102	271	7,000	SH		OTR	1	7,000	0	0
Universal Display Co rp	COM	91347P105	1,998	11,900	SH		OTR	1	11,900	0	0
Utilities Select Sec tor SPDR Fund	ETF	81369Y886	9,459	146,100	SH		SOLE		146,100	0	0
Utilities Select Sec tor SPDR Fund	ETF	81369Y886	3,219	49,719	SH		SOLE		49,719	0	0
Vanguard Communication Servic	COM	92204A884	4,472	51,579	SH		SOLE		51,579	0	0
Vanguard Financials ETF	ETF	92204A405	3,220	46,002	SH		SOLE		46,002	0	0
Vanguard Information Technology ETF	ETF	92204A702	3,219	14,935	SH		SOLE		14,935	0	0
Veeva Systems Inc	COM	922475108	1,802	11,800	SH		OTR	1	11,800	0	0
VeriSign Inc	COM	92343E102	490	2,600	SH		OTR	1	2,600	0	0
Verisk Analytics Inc	COM	92345Y106	601	3,800	SH		OTR	1	3,800	0	0
Visa Inc	COM	92826C839	367	2,133	SH		SOLE		2,133	0	0
Voc Energy Trust	COM	91829B103	87	16,379	SH		OTR	1	16,379	0	0
WIX.com, Ltd.	COM	M98068105	362	3,100	SH		OTR	1	3,100	0	0
Woodward Inc	COM	980745103	625	5,800	SH		OTR	1	5,800	0	0
Xilinx Inc	COM	983919101	1,429	14,900	SH		OTR	1	14,900	0	0
Zoetis Inc	COM	98978V103	1,732	13,900	SH		OTR	1	13,900	0	0
Zoetis Inc	COM	98978V103	412	3,308	SH		SOLE		3,308	0	0