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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 | |
|---|---|---|---|---|---|---|
626
Cencora
COR
$61.2B
| $5.37M | 0.01% |
15,914
+3,850
| +32% | +$1.31M |
|
627
CALL
KeyCorp
KEY
$24.4B
| $5.37M | 0.01% |
+260,000
| New | +$4.84M |
|
628
PUT
Equinix
EQIX
$103B
| $5.36M | 0.01% |
7,000
+5,000
| +250% | +$3.92M |
|
629
PUT
Barclays
BCS
$94.1B
| $5.36M | 0.01% |
210,500
| – | – |
|
630
CALL
Zillow
Z
$7.56B
| $5.36M | 0.01% |
78,500
-8,800
| -10% | -$637K |
|
631
Herbalife
HLF
$1.29B
| $5.31M | 0.01% |
411,894
+143,394
| +53% | +$1.52M |
|
632
CALL
Truist Financial
TFC
$64B
| $5.3M | 0.01% |
107,700
+104,500
| +3,266% | +$4.81M |
|
|
GLXY
633
CALL
Galaxy Digital Inc
GLXY
$3.93B
| $5.29M | 0.01% |
236,700
+156,700
| +196% | +$4.85M |
|
634
CALL
Eaton
ETN
$174B
| $5.26M | 0.01% |
16,500
+12,400
| +302% | +$4.39M |
|
635
SLB Ltd
SLB
$75B
| $5.26M | 0.01% |
136,927
-44,542
| -25% | -$1.61M |
|
636
PUT
Invesco Senior Loan ETF
BKLN
$6.81B
| $5.25M | 0.01% |
250,000
| – | – |
|
637
PUT
Danaher
DHR
$144B
| $5.24M | 0.01% |
22,900
+22,000
| +2,444% | +$4.84M |
|
638
CALL
Ares Management
ARES
$30.9B
| $5.22M | 0.01% |
+32,300
| New | +$5.03M |
|
639
CALL
Energy Fuels
UUUU
$3.53B
| $5.21M | 0.01% |
358,400
+169,800
| +90% | +$2.88M |
|
640
CALL
Arthur J. Gallagher & Co
AJG
$63.6B
| $5.18M | 0.01% |
+20,000
| New | +$5.29M |
|
641
EQT Corp
EQT
$32.3B
| $5.15M | 0.01% |
96,049
+17,230
| +22% | +$968K |
|
642
Arista Networks
ANET
$238B
| $5.12M | 0.01% |
39,088
-6,746
| -15% | -$929K |
|
643
PUT
Kraft Heinz
KHC
$30B
| $5.1M | 0.01% |
210,200
+35,000
| +20% | +$871K |
|
644
PUT
AES
AES
$10.5B
| $5.09M | 0.01% |
355,000
-245,000
| -41% | -$3.45M |
|
645
PUT
Celsius Holdings
CELH
$7.03B
| $5.08M | 0.01% |
111,000
-59,000
| -35% | -$2.97M |
|
646
CALL
HF Sinclair
DINO
$14.5B
| $5.07M | 0.01% |
110,100
+109,700
| +27,425% | +$5.65M |
|
647
PUT
Dollar General
DG
$27.9B
| $5.06M | 0.01% |
38,100
+500
| +1% | +$55.8K |
|
648
CALL
General Mills
GIS
$19.7B
| $5.05M | 0.01% |
108,700
+73,700
| +211% | +$3.5M |
|
649
APA Corp
APA
$13.2B
| $5.05M | 0.01% |
206,394
+46,528
| +29% | +$1.13M |
|
650
PUT
Comfort Systems
FIX
$59.6B
| $5.04M | 0.01% |
+5,400
| New | +$4.99M |
|
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HF
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.