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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 | |
|---|---|---|---|---|---|---|
701
CALL
Burlington
BURL
$23.2B
| $4.27M | 0.01% |
14,800
+14,500
| +4,833% | +$3.93M |
|
702
CALL
Enbridge
ENB
$112B
| $4.27M | 0.01% |
89,300
+81,700
| +1,075% | +$3.9M |
|
703
CALL
Cenovus Energy
CVE
$52.1B
| $4.26M | 0.01% |
251,500
-298,600
| -54% | -$5.19M |
|
|
704
PUT
Cenovus Energy
CVE
$52.1B
| $4.23M | 0.01% |
250,000
| – | – |
|
705
Nasdaq
NDAQ
$52.9B
| $4.21M | 0.01% |
43,312
+22,524
| +108% | +$2.03M |
|
706
KKR & Co
KKR
$92.3B
| $4.17M | 0.01% |
32,689
+22,880
| +233% | +$2.85M |
|
707
State Street Materials Select Sector SPDR ETF
XLB
$8.66B
| $4.16M | 0.01% |
91,713
+81,379
| +787% | +$3.6M |
|
708
PUT
BHP
BHP
$230B
| $4.13M | 0.01% |
+68,400
| New | +$3.89M |
|
709
Zscaler
ZS
$27.3B
| $4.12M | 0.01% |
18,301
-60,751
| -77% | -$17.1M |
|
710
Rocket Companies
RKT
$38.9B
| $4.11M | 0.01% |
212,158
+45,594
| +27% | +$815K |
|
|
DOCU
711
CALL
DocuSign
DOCU
$11.5B
| $4.1M | 0.01% |
60,000
| – | – |
|
712
PUT
HF Sinclair
DINO
$14.5B
| $4.08M | 0.01% |
88,500
+1,000
| +1% | +$51.5K |
|
713
PUT
APA Corp
APA
$13.2B
| $4.07M | 0.01% |
166,500
+160,600
| +2,722% | +$3.88M |
|
|
BMNR
714
PUT
BitMine Immersion Technologies
BMNR
$11.4B
| $4.07M | 0.01% |
+150,000
| New | +$6.08M |
|
715
CALL
Nike
NKE
$61.9B
| $4.07M | 0.01% |
63,900
+44,100
| +223% | +$2.87M |
|
716
Amphenol
APH
$209B
| $4.06M | 0.01% |
30,042
-25,969
| -46% | -$3.47M |
|
717
US Global Jets ETF
JETS
$800M
| $4.06M | 0.01% |
144,573
+144,572
| +14,457,200% | +$3.76M |
|
718
PUT
Oneok
OKE
$54.5B
| $4.04M | 0.01% |
55,000
| – | – |
|
719
CALL
XPeng
XPEV
$11.6B
| $4.04M | 0.01% |
199,200
+49,100
| +33% | +$1.07M |
|
720
PUT
Procter & Gamble
PG
$339B
| $3.93M | 0.01% |
27,400
+24,700
| +915% | +$3.64M |
|
721
CALL
Fortuna Silver Mines
FSM
$3.07B
| $3.92M | 0.01% |
400,000
| – | – |
|
722
Reddit
RDDT
$31.1B
| $3.92M | 0.01% |
+17,064
| New | +$3.59M |
|
723
Eaton
ETN
$174B
| $3.92M | 0.01% |
+12,298
| New | +$4.36M |
|
724
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| $3.88M | 0.01% |
50,000
-150,700
| -75% | -$11.8M |
|
725
Occidental Petroleum
OXY
$55.9B
| $3.88M | 0.01% |
+94,449
| New | +$3.94M |
|
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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.