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Parallax Volatility Advisers Portfolio holdings
AUM
$38.6B
1-Year Est. Return
45.89%
This Fund
S&P 500
This Quarter
Est. Return
+3.14%
1 Year Est. Return
+45.89%
3 Year Est. Return
+130.56%
5 Year Est. Return
+159.19%
10 Year Est. Return
+649.1%
AUM
$50.7B
AUM Growth
-$15.2B
(-23%)
Cap. Flow
-$16B
Cap. Flow
% of AUM
-31.47%
Top 10 Holdings %
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$263M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$154M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$90.9M |
| 4 |
Alibaba
BABA
|
+$47.6M |
| 5 |
Broadcom
AVGO
|
+$36.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$191M |
| 2 |
NVIDIA
NVDA
|
+$134M |
| 3 |
SPDR Gold Trust
GLD
|
+$80.5M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$65.2M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$49.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.29% |
| 2 | Financials | 1.28% |
| 3 | Consumer Discretionary | 0.7% |
| 4 | Industrials | 0.48% |
| 5 | Communication Services | 0.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
CALL
Morgan Stanley
MS
$340B
| $29.8M | 0.06% |
167,800
-139,900
| -45% | -$23.3M |
|
227
Chipotle Mexican Grill
CMG
$41.5B
| $29.7M | 0.06% |
+801,739
| New | +$29M |
|
228
CALL
NIO
NIO
$11.9B
| $29.6M | 0.06% |
5,807,900
+2,141,900
| +58% | +$13.2M |
|
229
PUT
SLB Ltd
SLB
$75B
| $29.6M | 0.06% |
771,100
+443,700
| +136% | +$16.1M |
|
230
PUT
Verizon
VZ
$196B
| $29.5M | 0.06% |
725,500
+198,400
| +38% | +$8.05M |
|
231
Datadog
DDOG
$83.3B
| $29.3M | 0.06% |
215,814
+105,389
| +95% | +$16.7M |
|
232
PUT
CAVA Group
CAVA
$7.27B
| $29.3M | 0.06% |
500,000
-53,100
| -10% | -$2.96M |
|
233
CALL
Airbnb
ABNB
$106B
| $29M | 0.06% |
213,700
+29,000
| +16% | +$3.61M |
|
234
CALL
MongoDB
MDB
$32.1B
| $28.4M | 0.06% |
67,600
+17,900
| +36% | +$6.51M |
|
235
PUT
TripAdvisor
TRIP
$1.26B
| $27.9M | 0.06% |
1,917,900
+400
| +0% | +$6.09K |
|
236
PUT
Salesforce
CRM
$158B
| $27.9M | 0.06% |
105,400
+25,400
| +32% | +$6.31M |
|
237
CALL
McDonald's
MCD
$195B
| $27.8M | 0.05% |
90,900
+5,500
| +6% | +$1.68M |
|
238
PUT
Dell
DELL
$293B
| $27.4M | 0.05% |
217,900
-127,600
| -37% | -$18M |
|
239
PUT
Newmont
NEM
$119B
| $27.4M | 0.05% |
274,700
+39,700
| +17% | +$3.59M |
|
240
PUT
XPO
XPO
$23.7B
| $27.2M | 0.05% |
+200,000
| New | +$27.2M |
|
241
CALL
Analog Devices
ADI
$190B
| $27.1M | 0.05% |
100,100
-8,900
| -8% | -$2.24M |
|
242
PUT
Blackstone
BX
$110B
| $27M | 0.05% |
175,400
-6,200
| -3% | -$942K |
|
243
PUT
Applied Materials
AMAT
$428B
| $27M | 0.05% |
105,000
+72,800
| +226% | +$17.5M |
|
|
244
CALL
Datadog
DDOG
$83.3B
| $26.9M | 0.05% |
198,000
+126,000
| +175% | +$19.9M |
|
245
CALL
Texas Instruments
TXN
$261B
| $26.3M | 0.05% |
151,400
+107,700
| +246% | +$18.4M |
|
246
PUT
Intuit
INTU
$89B
| $25.9M | 0.05% |
39,100
-9,500
| -20% | -$6.28M |
|
247
PUT
Capital One
COF
$134B
| $25.6M | 0.05% |
105,600
+100,600
| +2,012% | +$22.4M |
|
248
CALL
AngloGold Ashanti
AU
$48.7B
| $25.6M | 0.05% |
300,000
| – | – |
|
|
B
249
CALL
Barrick Mining
B
$73.2B
| $25.5M | 0.05% |
585,400
+282,900
| +94% | +$10.6M |
|
250
CALL
Marathon Digital Holdings
MARA
$3.85B
| $25.4M | 0.05% |
2,826,800
-482,400
| -15% | -$7.12M |
|
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Parallax Volatility Advisers's Q4 2025 Portfolio in Review
As of Q4 2025, Parallax Volatility Advisers held 1,934 positions worth $50.7B, down 23% from $65.9B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Parallax Volatility Advisers withdrew a net $16B in Q4 2025, closing 329 positions and reducing 471 holdings. Its most notable exit was Meta Platforms (Facebook), an estimated $191M position sold in full.
By sector, the portfolio is most concentrated in Technology at 1.3% of assets, down from 1.3% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Parallax Volatility Advisers opened a new position in American Express worth $272M.
- Parallax Volatility Advisers's largest Q4 2025 buy was American Express: 733,883 shares worth $272M.
- Parallax Volatility Advisers added most to Alibaba in Q4 2025, an estimated $47.6M increase.
- Parallax Volatility Advisers's biggest Q4 2025 reduction was SPDR Gold Trust, cutting an estimated $80.5M.
- Parallax Volatility Advisers fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $191M.
- Parallax Volatility Advisers's ten largest holdings make up 40% of its $50.7B portfolio in Q4 2025.
- Parallax Volatility Advisers opened 364 new positions and closed 329 in Q4 2025.
- Parallax Volatility Advisers's portfolio value fell 23% quarter-over-quarter to $50.7B.
Based on Parallax Volatility Advisers's 13F filing for Q4 2025, filed 17 Feb 2026.