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
Energy Focus Inc	COMMSTCK	29268T300	78,015	10,500	SH		OTR	1	0	10,500	0
Fidelity Money Market Inst. Fund 59	MONEYMKT	316175207	78,573	78,573	SH		OTR	1	0	78,573	0
LightPath Technologies, Inc.	COMMSTCK	532257805	151,500	75,000	SH		OTR	1	0	75,000	0
MiMedx Group Inc.	COMMSTCK	602496101	156,446	17,900	SH		OTR	1	0	17,900	0
IRADIMED CORP	COMMSTCK	46266A109	191,600	10,000	SH		OTR	1	0	10,000	0
Schlumberger Ltd	COMMSTCK	806857108	200,231	2,715	SH		SOLE		2,715	0	0
Amgen Inc.	COMMSTCK	031162100	202,106	1,348	SH		SOLE		1,348	0	0
iShares Barclays TIP S Bond Fund	ETF	464287176	204,174	1,781	SH		SOLE		1,781	0	0
CHINA LODGING GROU	COMMSTCK	16949N109	210,155	5,500	SH		OTR	1	0	5,500	0
VANGUARD TAX MANAG	ETF	921943858	214,311	5,973	SH		SOLE		5,973	0	0
LGI HOMES INC	COMMSTCK	50187T106	217,890	9,000	SH		OTR	1	0	9,000	0
CTRIPCOM INTL LTD	COMMSTCK	22943F100	221,300	5,000	SH		OTR	1	0	5,000	0
FCB Financial Holdin gs Inc	COMMSTCK	30255G103	232,820	7,000	SH		OTR	1	0	7,000	0
AMER WOODMARK	COMMSTCK	030506109	246,147	3,300	SH		OTR	1	0	3,300	0
AbbVie Inc.	COMMSTCK	00287Y109	253,784	4,443	SH		SOLE		4,443	0	0
Bank of America Corporation	COMMSTCK	060505104	256,866	18,999	SH		SOLE		18,999	0	0
ORITANI FINL CORP	COMMSTCK	68633D103	264,732	15,600	SH		OTR	1	0	15,600	0
VERISK ANALYTICS IN C. COM	COMMSTCK	92345Y106	279,720	3,500	SH		OTR	1	0	3,500	0
ORMAT TECHNOLOGIES	COMMSTCK	686688102	280,432	6,800	SH		OTR	1	0	6,800	0
Gigamon Inc.	COMMSTCK	37518B102	282,282	9,100	SH		OTR	1	0	9,100	0
Whirlpool Corp	COMMSTCK	963320106	286,921	1,591	SH		SOLE		1,591	0	0
iShares Core Total U.S. Bond Market ETF	ETF	464287226	303,771	2,741	SH		SOLE		2,741	0	0
Globant S.A.	COMMSTCK	L44385109	305,514	9,900	SH		OTR	1	0	9,900	0
STATE NATL COS INC	COMMSTCK	85711T305	307,440	24,400	SH		OTR	1	0	24,400	0
Walker & Dunlop Inc.	COMMSTCK	93148P102	308,229	12,700	SH		OTR	1	0	12,700	0
MAXLINEAR INC	COMMSTCK	57776J100	310,800	16,800	SH		OTR	1	0	16,800	0
iShares 1-3 Year Treasury Bond ETF	ETF	464287457	328,981	3,869	SH		SOLE		3,869	0	0
Apple Inc	COMMSTCK	037833100	329,586	3,024	SH		SOLE		3,024	0	0
FABRINET SHS	COMMSTCK	G3323L100	339,675	10,500	SH		OTR	1	0	10,500	0
Fiserv, Inc.	COMMSTCK	337738108	348,772	3,400	SH		OTR	1	0	3,400	0
First Trust DJ Globa l Select Dividend In	ETF	33734X200	355,929	15,784	SH		SOLE		15,784	0	0
AMN Healthcare Services, Inc.	COMMSTCK	001744101	379,793	11,300	SH		OTR	1	0	11,300	0
SPDR S&P Dividend ET F	ETF	78464A763	380,946	4,766	SH		SOLE		4,766	0	0
SPDR Gold Trust	ETF	78463V107	410,328	3,488	SH		SOLE		3,488	0	0
Equifax Inc	COMMSTCK	294429105	411,444	3,600	SH		OTR	1	0	3,600	0
CONTROLADORA VUELA C IA DE AVIACION	COMMSTCK	21240E105	412,972	19,600	SH		OTR	1	0	19,600	0
Lockheed Martin Corporation	COMMSTCK	539830109	420,850	1,900	SH		OTR	1	0	1,900	0
Financial Select Sector	ETF	81369Y605	421,560	18,736	SH		SOLE		18,736	0	0
Treasury Wine Estates Ltd	COMMSTCK	89465J109	421,969	57,100	SH		OTR	1	0	57,100	0
iShares Core S&P 500 ETF	ETF	464287200	429,625	2,079	SH		SOLE		2,079	0	0
iShares Barclays Sho rt Treasury Bond Fun	ETF	464288679	429,631	3,893	SH		SOLE		3,893	0	0
NV5 Gobal Inc.	COMMSTCK	62945V109	434,753	16,204	SH		OTR	1	0	16,204	0
TOTAL SYSTEM SERVICE S INC.	COMMSTCK	891906109	437,736	9,200	SH		OTR	1	0	9,200	0
Standard & Poor's Depositary Receipts	ETF	78462F103	442,485	2,153	SH		SOLE		2,153	0	0
Nordic American Tankers Limited	COMMSTCK	G65773106	474,833	33,700	SH		OTR	1	0	33,700	0
VelocityShares Daily Inverse VIX Short-	ETF	22542D795	477,693	18,458	SH		SOLE		18,458	0	0
Comfort Systems USA Inc	COMMSTCK	199908104	486,081	15,300	SH		OTR	1	0	15,300	0
iShares 1-3 Year Treasury Bond ETF	ETF	464287457	515,962	6,068	SH		SOLE		6,068	0	0
Ryanair Holdings PLC	COMMSTCK	783513203	540,666	6,300	SH		OTR	1	0	6,300	0
GENERAL MILLS INC.	COMMSTCK	370334104	551,145	8,700	SH		OTR	1	0	8,700	0
VANTIV INC	COMMSTCK	92210H105	565,740	10,500	SH		OTR	1	0	10,500	0
Vanguard Long-Term Bond ETF	ETF	921937793	582,151	6,257	SH		SOLE		6,257	0	0
iShares Barclays TIP S Bond Fund	ETF	464287176	606,560	5,291	SH		SOLE		5,291	0	0
iShares 20+ Year Tre asury Bond ETF	ETF	464287432	617,524	4,728	SH		SOLE		4,728	0	0
iShares 7-10 Year Treasury Bond ETF	ETF	464287440	654,096	5,928	SH		SOLE		5,928	0	0
Vanguard Intermediate-Term	ETF	921937819	663,416	7,690	SH		SOLE		7,690	0	0
Utilities Select Sec tor SPDR Fund	ETF	81369Y886	675,328	13,610	SH		SOLE		13,610	0	0
iShares MSCI EAFE In dex Fund	ETF	464287465	690,321	12,077	SH		SOLE		12,077	0	0
iShares iBoxx $ High Yield Corporate Bon	ETF	464288513	717,238	8,780	SH		SOLE		8,780	0	0
ALPS ETF TRUST	ETF	00162Q858	721,568	18,535	SH		SOLE		18,535	0	0
iShares iBoxx $ Inve stment Grade Corpora	ETF	464287242	727,060	6,119	SH		SOLE		6,119	0	0
iShares S&P/Citigrou p International Trea	ETF	464288117	735,340	7,566	SH		SOLE		7,566	0	0
iShares 20+ Year Tre asury Bond ETF	ETF	464287432	738,469	5,654	SH		SOLE		5,654	0	0
iShares MSCI New Zea land Investable Mark	ETF	464289123	762,962	18,550	SH		SOLE		18,550	0	0
TIME WARNER CABLE IN C.	COMMSTCK	88732J207	777,556	3,800	SH		OTR	1	0	3,800	0
iShares Core Total U.S. Bond Market ETF	ETF	464287226	811,571	7,323	SH		SOLE		7,323	0	0
Vulcan Materials Company	COMMSTCK	929160109	823,446	7,800	SH		OTR	1	0	7,800	0
Home Depot Inc/The	COMMSTCK	437076102	853,952	6,400	SH		OTR	1	0	6,400	0
MARKET VECTORS ETF	ETF	57060U100	855,914	42,860	SH		SOLE		42,860	0	0
iShares 1-3 Year Treasury Bond ETF	ETF	464287457	860,759	10,123	SH		SOLE		10,123	0	0
VERISIGN INC.	COMMSTCK	92343E102	867,692	9,800	SH		OTR	1	0	9,800	0
SMITH & WESSON HOLDI NG CORPORATION	COMMSTCK	831756101	870,474	32,700	SH		OTR	1	0	32,700	0
HEADWATERS INCORPORA TED	COMMSTCK	42210P102	926,528	46,700	SH		OTR	1	0	46,700	0
Vanguard REIT ETF	ETF	922908553	944,594	11,272	SH		SOLE		11,272	0	0
Vanguard Total International Bond	ETF	92203J407	998,736	18,312	SH		SOLE		18,312	0	0
Constellation Brands Inc	COMMSTCK	21036P108	1,012,454	6,701	SH		OTR	1	0	6,701	0
Starbucks Corp	COMMSTCK	855244109	1,050,720	17,600	SH		OTR	1	0	17,600	0
Consumer Staples Sel ect Sector SPDR Fund	ETF	81369Y308	1,074,253	20,246	SH		SOLE		20,246	0	0
NASDAQ INC	COMMSTCK	631103108	1,081,994	16,300	SH		OTR	1	0	16,300	0
Gilead Sciences Inc	COMMSTCK	375558103	1,203,366	13,100	SH		OTR	1	0	13,100	0
Acuity Brands, Inc.	COMMSTCK	00508Y102	1,265,212	5,800	SH		OTR	1	0	5,800	0
RYDEX ETF TR	ETF	78355W874	1,467,575	12,054	SH		SOLE		12,054	0	0
Dr Pepper Snapple Group, Inc.	COMMSTCK	26138E109	1,475,430	16,500	SH		OTR	1	0	16,500	0
Kroger Co/The	COMMSTCK	501044101	1,510,875	39,500	SH		OTR	1	0	39,500	0
HORMEL FOODS CORP	COMMSTCK	440452100	1,522,048	35,200	SH		OTR	1	0	35,200	0
Altria Group Inc	COMMSTCK	02209S103	1,547,702	24,700	SH		OTR	1	0	24,700	0
Autozone, Inc.	COMMSTCK	053332102	1,557,529	1,955	SH		OTR	1	0	1,955	0
O'Reilly Automotive, Inc.	COMMSTCK	67103H107	1,587,228	5,800	SH		OTR	1	0	5,800	0
A T & T Inc	COMMSTCK	00206R102	1,656,891	42,300	SH		OTR	1	0	42,300	0
PUBLIC STORAGE	COMMSTCK	74460D109	2,072,862	7,515	SH		OTR	1	0	7,515	0
Darden Restaurants, Inc.	COMMSTCK	237194105	2,148,120	32,400	SH		OTR	1	0	32,400	0
EXTRA SPACE STORAGE INC.	COMMSTCK	30225T102	2,177,618	23,300	SH		OTR	1	0	23,300	0
POWERSHARES XTF II	ETF	73937B654	2,201,661	59,312	SH		SOLE		59,312	0	0
VANGUARD WORLD FDS	ETF	92204A884	2,226,300	24,011	SH		SOLE		24,011	0	0
POWERSHARES ETF II	ETF	73937B837	2,245,662	49,948	SH		SOLE		49,948	0	0
CAL MAINE FOODS INC	COMMSTCK	128030202	2,273,658	43,800	SH		OTR	1	0	43,800	0
Ulta Salon Cosmetics & Fragrance Inc	COMMSTCK	90384S303	2,557,368	13,200	SH		OTR	1	0	13,200	0
Palo Alto Networks I nc	COMMSTCK	697435105	2,593,926	15,900	SH		OTR	1	0	15,900	0
Reynolds American In c	COMMSTCK	761713106	2,595,996	51,600	SH		OTR	1	0	51,600	0
THE CLOROX COMPANY	COMMSTCK	189054109	2,596,836	20,600	SH		OTR	1	0	20,600	0
BROADCOM LTD	COMMSTCK	Y09827109	2,781,000	18,000	SH		OTR	1	0	18,000	0
iShares Barclays Sho rt Treasury Bond Fun	ETF	464288679	4,914,993	44,536	SH		SOLE		44,536	0	0
iShares Barclays Sho rt Treasury Bond Fun	ETF	464288679	8,102,079	73,415	SH		SOLE		73,415	0	0
First Trust Consumer Staples AlphaDEX Fun	ETF	33734X119	19,332,904	419,187	SH		SOLE		419,187	0	0
Consumer Discretiona ry Select Sector	ETF	81369Y407	19,693,764	248,973	SH		SOLE		248,973	0	0
Technology Select Se ctor SPDR Fund	ETF	81369Y803	19,713,273	444,393	SH		SOLE		444,393	0	0
First Trust Exch	ETF	33734X184	19,735,369	759,637	SH		SOLE		759,637	0	0