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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 | |
|---|---|---|---|---|---|---|
|
MRSH
1301
Marsh
MRSH
$91.5B
| $268K | ﹤0.01% |
+1,444
| New | +$270K |
|
1302
PUT
Ecolab
ECL
$79.9B
| $263K | ﹤0.01% |
+1,000
| New | +$266K |
|
1303
Dave Inc
DAVE
$4.06B
| $261K | ﹤0.01% |
+1,181
| New | +$254K |
|
1304
PUT
Nucor
NUE
$62.1B
| $261K | ﹤0.01% |
+1,600
| New | +$240K |
|
1305
iShares MSCI Singapore ETF
EWS
$1.08B
| $260K | ﹤0.01% |
+9,466
| New | +$266K |
|
1306
United Rentals
URI
$72.4B
| $259K | ﹤0.01% |
+320
| New | +$278K |
|
1307
CALL
Grab
GRAB
$14.9B
| $255K | ﹤0.01% |
51,200
+40,000
| +357% | +$221K |
|
1308
PUT
Herbalife
HLF
$1.29B
| $255K | ﹤0.01% |
19,800
| – | – |
|
1309
CALL
Las Vegas Sands
LVS
$29.6B
| $254K | ﹤0.01% |
+3,900
| New | +$239K |
|
1310
YPF Sociedad Anonima American Depositary Shares (Each representing ten (10) Class D shares of Capital Stock)
YPF
$19.3B
| $251K | ﹤0.01% |
6,936
-71,210
| -91% | -$2.36M |
|
|
LFACU
1311
Leapfrog Acquisition Corp Units
LFACU
| $250K | ﹤0.01% |
+25,000
| New | +$250K |
|
|
1312
Grab
GRAB
$14.9B
| $248K | ﹤0.01% |
49,665
-63,070
| -56% | -$349K |
|
1313
Regeneron Pharmaceuticals
REGN
$80.8B
| $248K | ﹤0.01% |
+321
| New | +$218K |
|
1314
Cardinal Health
CAH
$55.4B
| $247K | ﹤0.01% |
+1,203
| New | +$226K |
|
1315
Invesco
IVZ
$13.9B
| $245K | ﹤0.01% |
9,342
+355
| +4% | +$8.67K |
|
1316
CAVA Group
CAVA
$7.27B
| $243K | ﹤0.01% |
4,142
-29,171
| -88% | -$1.63M |
|
|
OKLO
1317
Oklo
OKLO
$8.42B
| $243K | ﹤0.01% |
+3,384
| New | +$377K |
|
|
SPEGR
1318
Silver Pegasus Acquisition Corp Rights
SPEGR
| $241K | ﹤0.01% |
893,301
+442,513
| +98% | +$119K |
|
1319
CALL
Dow Inc
DOW
$21.2B
| $241K | ﹤0.01% |
+10,300
| New | +$237K |
|
1320
CALL
Medtronic
MDT
$112B
| $240K | ﹤0.01% |
2,500
+800
| +47% | +$77.7K |
|
|
EGHAR
1321
EGH Acquisition Corp Rights
EGHAR
| $239K | ﹤0.01% |
956,090
+373,885
| +64% | +$99.2K |
|
1322
CALL
Sunrun
RUN
$2.46B
| $237K | ﹤0.01% |
12,900
+11,100
| +617% | +$213K |
|
1323
PUT
Prudential Financial
PRU
$41.8B
| $237K | ﹤0.01% |
+2,100
| New | +$225K |
|
1324
PUT
Cinemark Holdings
CNK
$4.32B
| $235K | ﹤0.01% |
10,100
| – | – |
|
1325
CALL
Constellation Brands
STZ
$23.2B
| $235K | ﹤0.01% |
1,700
-100
| -6% | -$13.7K |
|
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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.