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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 | |
|---|---|---|---|---|---|---|
1326
Invesco DB Agriculture Fund
DBA
$1.23B
| $232K | ﹤0.01% |
9,103
| – | – |
|
1327
CALL
iShares MSCI Canada ETF
EWC
$6.33B
| $232K | ﹤0.01% |
4,300
+1,900
| +79% | +$98.2K |
|
1328
PUT
First Majestic Silver
AG
$9.07B
| $230K | ﹤0.01% |
+13,800
| New | +$192K |
|
|
DNMXU
1329
Dynamix Corporation III Unit
DNMXU
| $226K | ﹤0.01% |
+22,500
| New | +$227K |
|
|
HTZWW
1330
Hertz Global Holdings Warrants
HTZWW
$95.5M
| $225K | ﹤0.01% |
83,850
| – | – |
|
1331
ZTO Express
ZTO
$17.9B
| $222K | ﹤0.01% |
+10,606
| New | +$210K |
|
1332
CALL
Pinterest
PINS
$13.4B
| $220K | ﹤0.01% |
8,500
-7,100
| -46% | -$204K |
|
1333
Fastenal
FAST
$59.5B
| $220K | ﹤0.01% |
+5,483
| New | +$231K |
|
1334
PUT
D.R. Horton
DHI
$42.3B
| $216K | ﹤0.01% |
+1,500
| New | +$228K |
|
1335
Target Hospitality
TH
$1.64B
| $215K | ﹤0.01% |
26,843
+1,860
| +7% | +$14.1K |
|
1336
CALL
PBF Energy
PBF
$7.31B
| $214K | ﹤0.01% |
7,900
| – | – |
|
1337
Hershey
HSY
$36.6B
| $211K | ﹤0.01% |
1,157
-3,792
| -77% | -$693K |
|
1338
Steel Dynamics
STLD
$37.6B
| $209K | ﹤0.01% |
+1,232
| New | +$196K |
|
1339
PUT
FMC
FMC
$1.33B
| $208K | ﹤0.01% |
+15,000
| New | +$286K |
|
1340
CALL
Warner Bros
WBD
$67.1B
| $208K | ﹤0.01% |
7,200
-268,300
| -97% | -$6.27M |
|
1341
CALL
Fortinet
FTNT
$117B
| $206K | ﹤0.01% |
2,600
| – | – |
|
1342
CALL
Zions Bancorporation
ZION
$10.3B
| $205K | ﹤0.01% |
+3,500
| New | +$191K |
|
1343
Huntington Bancshares
HBAN
$35.5B
| $203K | ﹤0.01% |
11,712
-76,956
| -87% | -$1.26M |
|
1344
Ingersoll Rand
IR
$33.7B
| $202K | ﹤0.01% |
+2,556
| New | +$202K |
|
1345
McCormick & Company Non-Voting
MKC
$14.2B
| $202K | ﹤0.01% |
2,963
-3,099
| -51% | -$206K |
|
1346
PUT
Credo Technology Group
CRDO
$46.6B
| $201K | ﹤0.01% |
+1,400
| New | +$215K |
|
|
IGACU
1347
Invest Green Acquisition Corp Units
IGACU
| $201K | ﹤0.01% |
+20,000
| New | +$200K |
|
1348
iShares MSCI Hong Kong ETF
EWH
$1.22B
| $200K | ﹤0.01% |
+9,428
| New | +$205K |
|
1349
PUT
Grab
GRAB
$14.9B
| $200K | ﹤0.01% |
40,100
+22,100
| +123% | +$122K |
|
|
KCHVR
1350
Kochav Defense Acquisition Corp Right
KCHVR
| $199K | ﹤0.01% |
828,679
+65,190
| +9% | +$17.7K |
|
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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.