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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 | |
|---|---|---|---|---|---|---|
151
PUT
Arm
ARM
$306B
| $52.8M | 0.1% |
483,300
+123,900
| +34% | +$18M |
|
152
PUT
iShares China Large-Cap ETF
FXI
$4.29B
| $52M | 0.1% |
1,358,400
+498,700
| +58% | +$19.8M |
|
153
PUT
Live Nation Entertainment
LYV
$42.3B
| $51.8M | 0.1% |
363,700
+32,500
| +10% | +$4.67M |
|
154
PUT
ExxonMobil
XOM
$642B
| $51.7M | 0.1% |
430,000
-79,900
| -16% | -$9.27M |
|
155
Wells Fargo
WFC
$265B
| $51.6M | 0.1% |
553,377
+166,949
| +43% | +$14.5M |
|
156
CALL
Rivian
RIVN
$22.3B
| $50.2M | 0.1% |
2,545,000
+1,520,000
| +148% | +$24.1M |
|
157
CALL
Pfizer
PFE
$149B
| $50.2M | 0.1% |
2,014,500
+987,200
| +96% | +$24.9M |
|
158
Cloudflare
NET
$101B
| $49.8M | 0.1% |
252,397
-115,983
| -31% | -$24.5M |
|
|
159
Alibaba
BABA
$304B
| $49.5M | 0.1% |
337,770
+291,985
| +638% | +$47.6M |
|
160
PUT
Super Micro Computer
SMCI
$19B
| $48.9M | 0.1% |
1,670,200
-187,000
| -10% | -$7.7M |
|
161
PUT
Home Depot
HD
$349B
| $48M | 0.09% |
139,600
+66,900
| +92% | +$24.5M |
|
162
PUT
State Street Health Care Select Sector SPDR ETF
XLV
$42.4B
| $48M | 0.09% |
310,000
-22,300
| -7% | -$3.34M |
|
|
AXON
163
PUT
Axon Enterprise
AXON
$42.1B
| $47.9M | 0.09% |
84,400
+15,000
| +22% | +$9.31M |
|
|
164
PUT
Cloudflare
NET
$101B
| $47.8M | 0.09% |
242,700
-3,100
| -1% | -$656K |
|
165
PUT
US Bancorp
USB
$99.4B
| $47.6M | 0.09% |
892,200
+608,800
| +215% | +$29.9M |
|
166
PUT
PayPal
PYPL
$51.1B
| $47.4M | 0.09% |
812,500
+171,300
| +27% | +$11.1M |
|
167
CALL
Best Buy
BBY
$16.9B
| $47.1M | 0.09% |
703,100
+24,300
| +4% | +$1.85M |
|
168
PUT
Rocket Companies
RKT
$37.4B
| $46.7M | 0.09% |
2,410,000
+200,000
| +9% | +$3.58M |
|
169
CrowdStrike
CRWD
$211B
| $46.1M | 0.09% |
393,436
+18,716
| +5% | +$2.38M |
|
170
CALL
Riot Platforms
RIOT
$8.02B
| $46.1M | 0.09% |
3,637,000
+563,700
| +18% | +$9.64M |
|
171
PUT
Occidental Petroleum
OXY
$55.7B
| $46M | 0.09% |
1,119,400
+636,300
| +132% | +$26.6M |
|
172
GE Vernova
GEV
$266B
| $46M | 0.09% |
70,328
-6,709
| -9% | -$4.09M |
|
173
PUT
Burlington
BURL
$23.4B
| $45.7M | 0.09% |
158,300
+107,100
| +209% | +$29.1M |
|
174
PUT
Freeport-McMoran
FCX
$95.5B
| $44.9M | 0.09% |
883,900
+519,800
| +143% | +$22.5M |
|
175
PUT
Marvell Technology
MRVL
$189B
| $44.7M | 0.09% |
526,200
-453,900
| -46% | -$39.7M |
|
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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.