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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 | |
|---|---|---|---|---|---|---|
801
The Mosaic Company
MOS
$7.33B
| $3.02M | 0.01% |
+125,367
| New | +$3.38M |
|
802
PUT
Transocean
RIG
$5.82B
| $3.01M | 0.01% |
728,400
+93,400
| +15% | +$363K |
|
803
Kroger
KR
$34.8B
| $3M | 0.01% |
48,038
-220,443
| -82% | -$14.4M |
|
804
CALL
Pan American Silver
PAAS
$21.6B
| $2.96M | 0.01% |
57,200
+55,500
| +3,265% | +$2.32M |
|
|
DNMX
805
Dynamix Corp III
DNMX
| $2.95M | 0.01% |
+298,768
| New | +$2.96M |
|
806
PUT
PENN Entertainment
PENN
$2.71B
| $2.95M | 0.01% |
200,000
| – | – |
|
807
Astera Labs
ALAB
$58B
| $2.94M | 0.01% |
+17,643
| New | +$2.95M |
|
808
PUT
Honeywell
HON
$78B
| $2.93M | 0.01% |
15,000
-915
| -6% | -$179K |
|
809
Salesforce
CRM
$158B
| $2.91M | 0.01% |
10,987
-15,176
| -58% | -$3.77M |
|
810
EOG Resources
EOG
$70.7B
| $2.91M | 0.01% |
+27,683
| New | +$2.97M |
|
811
Marvell Technology
MRVL
$196B
| $2.89M | 0.01% |
33,982
-46,554
| -58% | -$4.08M |
|
812
PUT
Starwood Property Trust
STWD
$6.09B
| $2.89M | 0.01% |
160,200
+200
| +0.1% | +$3.68K |
|
813
Global Payments
GPN
$22.8B
| $2.85M | 0.01% |
36,880
-769
| -2% | -$61.9K |
|
814
CALL
Halliburton
HAL
$26.6B
| $2.85M | 0.01% |
100,700
| – | – |
|
815
CALL
DexCom
DXCM
$32B
| $2.82M | 0.01% |
+42,500
| New | +$2.75M |
|
816
Regions Financial
RF
$26.8B
| $2.81M | 0.01% |
103,717
-41,193
| -28% | -$1.05M |
|
817
PUT
Diamondback Energy
FANG
$52.7B
| $2.8M | 0.01% |
18,600
+1,300
| +8% | +$192K |
|
|
818
Halliburton
HAL
$26.6B
| $2.79M | 0.01% |
98,564
+45,995
| +87% | +$1.21M |
|
819
PUT
Cipher Digital
CIFR
$7.13B
| $2.79M | 0.01% |
188,700
-745,200
| -80% | -$13.2M |
|
820
CALL
Blue Owl Capital
OWL
$18.5B
| $2.78M | 0.01% |
+186,200
| New | +$2.91M |
|
821
CALL
Consolidated Edison
ED
$39.9B
| $2.78M | 0.01% |
28,000
| – | – |
|
822
Celestica
CLS
$36.5B
| $2.76M | 0.01% |
9,352
-14,066
| -60% | -$4.24M |
|
823
PUT
PG&E
PCG
$38.5B
| $2.76M | 0.01% |
171,900
-119,700
| -41% | -$1.91M |
|
824
PUT
AstraZeneca
AZN
$250B
| $2.76M | 0.01% |
15,000
| – | – |
|
825
PUT
New Oriental
EDU
$8.98B
| $2.76M | 0.01% |
50,100
+50,000
| +50,000% | +$2.74M |
|
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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.