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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 | |
|---|---|---|---|---|---|---|
1351
Humana
HUM
$46.2B
| $199K | ﹤0.01% |
775
-15,039
| -95% | -$3.94M |
|
1352
FMC
FMC
$1.33B
| $194K | ﹤0.01% |
+13,955
| New | +$266K |
|
|
DEFT
1353
CALL
Defi Technologies
DEFT
$183M
| $194K | ﹤0.01% |
+256,500
| New | +$392K |
|
1354
PUT
Workday
WDAY
$44.4B
| $193K | ﹤0.01% |
900
-9,100
| -91% | -$2.07M |
|
1355
Cytokinetics
CYTK
$10.4B
| $193K | ﹤0.01% |
3,039
+130
| +4% | +$8.09K |
|
1356
Estee Lauder
EL
$32B
| $192K | ﹤0.01% |
+1,829
| New | +$177K |
|
1357
PACCAR
PCAR
$70.1B
| $186K | ﹤0.01% |
+1,699
| New | +$174K |
|
1358
PUT
Emcor
EME
$36B
| $184K | ﹤0.01% |
+300
| New | +$194K |
|
1359
Enbridge
ENB
$112B
| $180K | ﹤0.01% |
3,756
-22,234
| -86% | -$1.06M |
|
1360
CALL
Dick's Sporting Goods
DKS
$18.7B
| $178K | ﹤0.01% |
900
-5,900
| -87% | -$1.29M |
|
1361
PUT
Pan American Silver
PAAS
$21.6B
| $176K | ﹤0.01% |
3,400
-100
| -3% | -$4.19K |
|
|
FRMM
1362
PUT
Forum Markets
FRMM
$79.5M
| $175K | ﹤0.01% |
+35,800
| New | +$505K |
|
1363
CALL
Spotify
SPOT
$100B
| $174K | ﹤0.01% |
300
-1,200
| -80% | -$750K |
|
1364
Phinia Inc
PHIN
$2.74B
| $172K | ﹤0.01% |
+2,738
| New | +$151K |
|
|
EU
1365
enCore Energy
EU
$243M
| $169K | ﹤0.01% |
68,008
-2,342
| -3% | -$6.69K |
|
1366
PUT
Cognizant
CTSH
$26B
| $166K | ﹤0.01% |
+2,000
| New | +$150K |
|
|
PMTRU
1367
Perimeter Acquisition Corp I Unit
PMTRU
$195M
| $164K | ﹤0.01% |
15,478
| – | – |
|
1368
Bank of Montreal
BMO
$127B
| $162K | ﹤0.01% |
+1,250
| New | +$158K |
|
1369
CALL
Ross Stores
ROST
$81.9B
| $162K | ﹤0.01% |
+900
| New | +$150K |
|
|
P
1370
PUT
Everpure Inc
P
$29.9B
| $161K | ﹤0.01% |
+2,400
| New | +$200K |
|
|
APXTW
1371
Apex Treasury Corp Warrants
APXTW
$5.86M
| $159K | ﹤0.01% |
+573,116
| New | +$174K |
|
1372
PUT
United Microelectronic
UMC
$46.9B
| $157K | ﹤0.01% |
20,000
| – | – |
|
|
P
1373
Everpure Inc
P
$29.9B
| $156K | ﹤0.01% |
2,326
-5,874
| -72% | -$491K |
|
1374
PUT
Arthur J. Gallagher & Co
AJG
$63.6B
| $155K | ﹤0.01% |
+600
| New | +$159K |
|
1375
PUT
Automatic Data Processing
ADP
$108B
| $154K | ﹤0.01% |
+600
| New | +$160K |
|
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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.