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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 | |
|---|---|---|---|---|---|---|
851
CALL
Vistra
VST
$47.4B
| $2.55M | 0.01% |
15,800
-39,700
| -72% | -$7.23M |
|
852
CALL
DoorDash
DASH
$93.7B
| $2.49M | ﹤0.01% |
11,000
-500
| -4% | -$117K |
|
853
CALL
Harmony Gold Mining
HMY
$12.3B
| $2.49M | ﹤0.01% |
125,000
+85,000
| +213% | +$1.59M |
|
854
Etsy
ETSY
$7.85B
| $2.48M | ﹤0.01% |
44,676
-125,545
| -74% | -$7.66M |
|
855
CALL
Plug Power
PLUG
$3.04B
| $2.47M | ﹤0.01% |
1,254,600
+254,600
| +25% | +$665K |
|
856
Fortinet
FTNT
$117B
| $2.47M | ﹤0.01% |
31,116
+12,600
| +68% | +$1.05M |
|
|
FRMM
857
CALL
Forum Markets
FRMM
$79.5M
| $2.45M | ﹤0.01% |
500,000
+464,000
| +1,289% | +$6.55M |
|
858
PUT
Quanta Services
PWR
$101B
| $2.45M | ﹤0.01% |
5,800
+3,800
| +190% | +$1.67M |
|
859
CALL
GlobalFoundries
GFS
$29.6B
| $2.44M | ﹤0.01% |
70,000
| – | – |
|
|
860
PUT
GlobalFoundries
GFS
$29.6B
| $2.44M | ﹤0.01% |
70,000
| – | – |
|
861
PUT
US Global Jets ETF
JETS
$800M
| $2.41M | ﹤0.01% |
86,000
| – | – |
|
862
CALL
Rockwell Automation
ROK
$49B
| $2.41M | ﹤0.01% |
6,200
+6,100
| +6,100% | +$2.29M |
|
|
AEAQU
863
Activate Energy Acquisition Corp Unit
AEAQU
| $2.4M | ﹤0.01% |
+240,448
| New | +$2.41M |
|
864
Century Aluminum
CENX
$5.07B
| $2.4M | ﹤0.01% |
61,314
+21,698
| +55% | +$678K |
|
865
CALL
MKS Inc
MKSI
$20.6B
| $2.4M | ﹤0.01% |
+15,000
| New | +$2.23M |
|
866
CALL
Caesars Entertainment
CZR
$6.14B
| $2.39M | ﹤0.01% |
102,300
+100,000
| +4,348% | +$2.25M |
|
867
Duke Energy
DUK
$97.3B
| $2.38M | ﹤0.01% |
20,277
-5,457
| -21% | -$666K |
|
868
PUT
Pfizer
PFE
$153B
| $2.34M | ﹤0.01% |
93,900
-123,500
| -57% | -$3.11M |
|
869
CALL
Deere & Co
DE
$168B
| $2.33M | ﹤0.01% |
5,000
| – | – |
|
|
870
CALL
Century Aluminum
CENX
$5.07B
| $2.32M | ﹤0.01% |
59,300
| – | – |
|
|
NVO
871
Novo Nordisk
NVO
$209B
| $2.31M | ﹤0.01% |
45,426
+29,709
| +189% | +$1.52M |
|
872
CALL
Bank OZK
OZK
$5.61B
| $2.3M | ﹤0.01% |
+50,000
| New | +$2.34M |
|
|
873
PUT
Bank OZK
OZK
$5.61B
| $2.3M | ﹤0.01% |
+50,000
| New | +$2.34M |
|
874
Marriott International
MAR
$92.3B
| $2.3M | ﹤0.01% |
7,401
+4,509
| +156% | +$1.29M |
|
875
CALL
Trade Desk
TTD
$6.49B
| $2.29M | ﹤0.01% |
60,200
-95,600
| -61% | -$4.24M |
|
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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.