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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 | |
|---|---|---|---|---|---|---|
401
PUT
Philip Morris
PM
$295B
| $11.9M | 0.02% |
74,500
+29,500
| +66% | +$4.57M |
|
402
PUT
Dollar Tree
DLTR
$25.2B
| $11.9M | 0.02% |
96,800
+6,100
| +7% | +$654K |
|
403
Jabil
JBL
$35.8B
| $11.9M | 0.02% |
52,186
+4,105
| +9% | +$876K |
|
404
CALL
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.2B
| $11.9M | 0.02% |
99,400
-5,000
| -5% | -$593K |
|
405
CALL
Alcoa
AA
$13.2B
| $11.8M | 0.02% |
221,800
+124,100
| +127% | +$5.08M |
|
406
PUT
Wheaton Precious Metals
WPM
$60.9B
| $11.8M | 0.02% |
100,000
| – | – |
|
407
PUT
Devon Energy
DVN
$47.3B
| $11.7M | 0.02% |
320,100
+153,300
| +92% | +$5.35M |
|
408
PUT
Intercontinental Exchange
ICE
$84.4B
| $11.7M | 0.02% |
72,200
+2,300
| +3% | +$360K |
|
409
MongoDB
MDB
$32.1B
| $11.7M | 0.02% |
27,850
-15,175
| -35% | -$5.52M |
|
410
PUT
McDonald's
MCD
$195B
| $11.6M | 0.02% |
38,100
+8,100
| +27% | +$2.48M |
|
411
AstraZeneca
AZN
$250B
| $11.6M | 0.02% |
63,249
+14,936
| +31% | +$2.62M |
|
412
PUT
Adobe
ADBE
$105B
| $11.5M | 0.02% |
33,000
-12,000
| -27% | -$4.08M |
|
413
CALL
Southern Copper
SCCO
$166B
| $11.5M | 0.02% |
+81,589
| New | +$10.8M |
|
414
Constellation Energy
CEG
$95.6B
| $11.5M | 0.02% |
32,476
+6,901
| +27% | +$2.51M |
|
415
Truist Financial
TFC
$64B
| $11.5M | 0.02% |
232,705
+222,107
| +2,096% | +$10.2M |
|
416
PUT
Teva Pharmaceuticals
TEVA
$41.2B
| $11.3M | 0.02% |
361,000
+245,000
| +211% | +$6.04M |
|
417
CALL
Diamondback Energy
FANG
$52.7B
| $11.2M | 0.02% |
+74,800
| New | +$11M |
|
418
NRG Energy
NRG
$24.8B
| $11.2M | 0.02% |
70,273
+8,940
| +15% | +$1.48M |
|
419
CALL
Bitdeer Technologies
BTDR
$2.65B
| $11M | 0.02% |
981,500
+764,600
| +353% | +$12.3M |
|
420
PUT
Norwegian Cruise Line
NCLH
$8.84B
| $11M | 0.02% |
491,100
-52,800
| -10% | -$1.11M |
|
421
CALL
Lyft
LYFT
$6.63B
| $10.9M | 0.02% |
565,000
+343,000
| +155% | +$7.13M |
|
422
PUT
PureCycle Technologies
PCT
$1.45B
| $10.8M | 0.02% |
1,260,000
+30,000
| +2% | +$319K |
|
423
Corning
GLW
$143B
| $10.7M | 0.02% |
122,589
+8,291
| +7% | +$714K |
|
424
CALL
AbbVie
ABBV
$435B
| $10.7M | 0.02% |
46,800
+15,600
| +50% | +$3.55M |
|
425
PUT
HCA Healthcare
HCA
$89.5B
| $10.7M | 0.02% |
22,900
+14,900
| +186% | +$6.92M |
|
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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.