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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 | |
|---|---|---|---|---|---|---|
726
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$42.7B
| $3.87M | 0.01% |
25,000
-47,800
| -66% | -$7.16M |
|
727
AngloGold Ashanti
AU
$48.7B
| $3.85M | 0.01% |
+45,195
| New | +$3.52M |
|
|
NBIS
728
Nebius Group N.V.
NBIS
$47.7B
| $3.85M | 0.01% |
46,029
+18,700
| +68% | +$1.94M |
|
|
GLXY
729
PUT
Galaxy Digital Inc
GLXY
$3.93B
| $3.84M | 0.01% |
171,700
+171,300
| +42,825% | +$5.31M |
|
730
CALL
T-Mobile US
TMUS
$190B
| $3.84M | 0.01% |
18,900
-29,700
| -61% | -$6.3M |
|
731
ASML
ASML
$669B
| $3.79M | 0.01% |
3,540
+156
| +5% | +$163K |
|
732
Coca-Cola
KO
$375B
| $3.76M | 0.01% |
53,846
+40,865
| +315% | +$2.85M |
|
733
PUT
NuScale Power
SMR
$4.03B
| $3.68M | 0.01% |
259,400
+180,000
| +227% | +$5.15M |
|
734
Teva Pharmaceuticals
TEVA
$41.2B
| $3.67M | 0.01% |
117,708
+65,266
| +124% | +$1.61M |
|
735
CALL
Coupang
CPNG
$29.2B
| $3.67M | 0.01% |
155,700
+10,200
| +7% | +$290K |
|
736
PUT
Uranium Energy
UEC
$5.57B
| $3.65M | 0.01% |
312,400
-132,700
| -30% | -$1.74M |
|
737
PUT
United Parcel Service
UPS
$88.9B
| $3.64M | 0.01% |
36,700
-41,500
| -53% | -$3.88M |
|
738
CALL
American International
AIG
$41.3B
| $3.64M | 0.01% |
42,500
+32,500
| +325% | +$2.6M |
|
739
CALL
AvalonBay Communities
AVB
$26.8B
| $3.63M | 0.01% |
+20,000
| New | +$3.63M |
|
740
CALL
GameStop
GME
$8.6B
| $3.61M | 0.01% |
180,000
-325,000
| -64% | -$7.29M |
|
741
PUT
FIVE9
FIVN
$2.54B
| $3.61M | 0.01% |
+180,000
| New | +$3.82M |
|
742
CALL
EQT Corp
EQT
$32.3B
| $3.6M | 0.01% |
67,100
+20,700
| +45% | +$1.16M |
|
743
OneMain Financial
OMF
$7.47B
| $3.59M | 0.01% |
53,174
+27,362
| +106% | +$1.66M |
|
744
CALL
EOG Resources
EOG
$70.7B
| $3.58M | 0.01% |
+34,100
| New | +$3.66M |
|
745
ConocoPhillips
COP
$141B
| $3.57M | 0.01% |
+38,097
| New | +$3.45M |
|
|
ALUB.U
746
Alussa Energy Acquisition Corp II Units
ALUB.U
| $3.54M | 0.01% |
+350,000
| New | +$3.54M |
|
747
Sea Limited
SE
$69.5B
| $3.52M | 0.01% |
27,609
+24,262
| +725% | +$3.59M |
|
|
HCACU
748
Hall Chadwick Acquisition Corp Unit
HCACU
| $3.51M | 0.01% |
+350,300
| New | +$3.51M |
|
749
Citizens Financial Group
CFG
$30.6B
| $3.47M | 0.01% |
59,382
+36,033
| +154% | +$1.94M |
|
750
Valero Energy
VLO
$85.9B
| $3.46M | 0.01% |
21,244
-26,920
| -56% | -$4.56M |
|
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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.