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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 | |
|---|---|---|---|---|---|---|
1051
CALL
State Street
STT
$50.7B
| $1.11M | ﹤0.01% |
8,600
-559,400
| -98% | -$67M |
|
1052
PUT
Opendoor
OPEN
$3.38B
| $1.1M | ﹤0.01% |
189,200
+39,367
| +26% | +$282K |
|
|
LATAU
1053
Galata Acquisition Corp. II Units
LATAU
| $1.09M | ﹤0.01% |
+108,534
| New | +$1.09M |
|
1054
CALL
Whirlpool
WHR
$2.82B
| $1.09M | ﹤0.01% |
15,100
| – | – |
|
1055
CALL
Stellantis
STLA
$20.8B
| $1.09M | ﹤0.01% |
100,000
| – | – |
|
1056
Nabors Industries
NBR
$1.21B
| $1.09M | ﹤0.01% |
20,000
+2,012
| +11% | +$98.1K |
|
1057
CALL
Prudential Financial
PRU
$41.8B
| $1.07M | ﹤0.01% |
9,500
-35,700
| -79% | -$3.83M |
|
1058
CALL
AGNC Investment
AGNC
$12.9B
| $1.07M | ﹤0.01% |
100,000
| – | – |
|
1059
Bank OZK
OZK
$5.61B
| $1.07M | ﹤0.01% |
+23,290
| New | +$1.09M |
|
1060
CRH
CRH
$66.8B
| $1.07M | ﹤0.01% |
+8,568
| New | +$1.02M |
|
1061
Teradyne
TER
$59.3B
| $1.06M | ﹤0.01% |
5,478
+2,427
| +80% | +$416K |
|
1062
CALL
Alphatec Holdings
ATEC
$1.44B
| $1.05M | ﹤0.01% |
50,000
| – | – |
|
1063
PUT
Williams Companies
WMB
$86.1B
| $1.05M | ﹤0.01% |
17,500
-60,000
| -77% | -$3.63M |
|
1064
PUT
Quantum Computing Inc
QUBT
$2.07B
| $1.05M | ﹤0.01% |
+102,500
| New | +$1.46M |
|
1065
AB InBev
BUD
$165B
| $1.05M | ﹤0.01% |
+16,389
| New | +$1.02M |
|
|
Q
1066
Qnity Electronics Inc
Q
$28.9B
| $1.05M | ﹤0.01% |
+12,821
| New | +$1.09M |
|
1067
Ares Management
ARES
$30.9B
| $1.04M | ﹤0.01% |
+6,459
| New | +$1.01M |
|
1068
CALL
BP
BP
$107B
| $1.04M | ﹤0.01% |
30,000
-36,300
| -55% | -$1.27M |
|
1069
CALL
Peabody Energy
BTU
$2.9B
| $1.04M | ﹤0.01% |
35,000
-19,500
| -36% | -$573K |
|
1070
Paycom
PAYC
$9.69B
| $1.04M | ﹤0.01% |
6,509
+5,156
| +381% | +$914K |
|
1071
Zoetis
ZTS
$30B
| $1.04M | ﹤0.01% |
+8,231
| New | +$1.07M |
|
1072
Upwork
UPWK
$1.19B
| $1.03M | ﹤0.01% |
51,900
+652
| +1% | +$12K |
|
|
NNE
1073
PUT
Nano Nuclear Energy
NNE
$1.01B
| $1.03M | ﹤0.01% |
42,700
-144,200
| -77% | -$5.52M |
|
1074
PUT
Marriott International
MAR
$92.3B
| $1.02M | ﹤0.01% |
+3,300
| New | +$943K |
|
|
EA
1075
PUT
DELISTED
Electronic Arts
EA
| $1.02M | ﹤0.01% |
5,000
| – | – |
|
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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.