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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 | |
|---|---|---|---|---|---|---|
976
CALL
State Street SPDR S&P Homebuilders ETF
XHB
$1.56B
| $1.55M | ﹤0.01% |
+15,100
| New | +$1.6M |
|
977
Franco-Nevada
FNV
$46B
| $1.55M | ﹤0.01% |
7,500
-2,127
| -22% | -$431K |
|
978
PUT
CF Industries
CF
$17.3B
| $1.55M | ﹤0.01% |
20,000
| – | – |
|
|
SOCAU
979
Solarius Capital Acquisition Corp Units
SOCAU
| $1.54M | ﹤0.01% |
+150,000
| New | +$1.53M |
|
|
WENN
980
Wen Acquisition Corp
WENN
$390M
| $1.54M | ﹤0.01% |
+152,038
| New | +$1.55M |
|
|
GPACU
981
General Purpose Acquisition Corp Units
GPACU
| $1.53M | ﹤0.01% |
+153,185
| New | +$1.53M |
|
982
Berkshire Hathaway Class B
BRK.B
$1.13T
| $1.53M | ﹤0.01% |
3,050
-629
| -17% | -$313K |
|
983
CALL
Equinix
EQIX
$103B
| $1.53M | ﹤0.01% |
2,000
| – | – |
|
984
CALL
MP Materials
MP
$9.1B
| $1.52M | ﹤0.01% |
+30,000
| New | +$1.9M |
|
|
985
CF Industries
CF
$17.3B
| $1.5M | ﹤0.01% |
19,331
+5,663
| +41% | +$465K |
|
986
Snap
SNAP
$9.01B
| $1.49M | ﹤0.01% |
185,063
-248,471
| -57% | -$1.97M |
|
987
GitLab
GTLB
$6.58B
| $1.49M | ﹤0.01% |
39,739
+542
| +1% | +$23.5K |
|
|
NWAX.U
988
New America Acquisition I Corp Units
NWAX.U
| $1.49M | ﹤0.01% |
+143,071
| New | +$1.49M |
|
989
Constellation Brands
STZ
$23.2B
| $1.48M | ﹤0.01% |
10,724
-43,930
| -80% | -$6.03M |
|
990
CALL
StoneCo
STNE
$2.58B
| $1.48M | ﹤0.01% |
100,000
-18,000
| -15% | -$301K |
|
991
Semtech
SMTC
$13B
| $1.47M | ﹤0.01% |
20,000
-3,720
| -16% | -$264K |
|
992
CALL
Sanofi
SNY
$104B
| $1.45M | ﹤0.01% |
30,000
| – | – |
|
993
PUT
Tilray
TLRY
$622M
| $1.44M | ﹤0.01% |
+160,000
| New | +$1.95M |
|
994
PUT
State Street
STT
$50.7B
| $1.43M | ﹤0.01% |
+11,100
| New | +$1.33M |
|
995
AT&T
T
$163B
| $1.43M | ﹤0.01% |
57,643
-141,790
| -71% | -$3.59M |
|
996
PUT
Lemonade
LMND
$4.1B
| $1.42M | ﹤0.01% |
+20,000
| New | +$1.34M |
|
997
PUT
Tractor Supply
TSCO
$18B
| $1.42M | ﹤0.01% |
28,400
+3,400
| +14% | +$183K |
|
998
Synopsys
SNPS
$79.7B
| $1.42M | ﹤0.01% |
+3,022
| New | +$1.34M |
|
999
PUT
Bit Digital
BTBT
$482M
| $1.42M | ﹤0.01% |
750,000
-500,000
| -40% | -$1.45M |
|
1000
TripAdvisor
TRIP
$1.26B
| $1.41M | ﹤0.01% |
96,679
-139
| -0.1% | -$2.12K |
|
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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.