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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 | |
|---|---|---|---|---|---|---|
176
CALL
Applied Materials
AMAT
$419B
| $44.6M | 0.09% |
173,600
+38,900
| +29% | +$9.33M |
|
177
CALL
Baidu
BIDU
$37.1B
| $43.1M | 0.09% |
330,100
+59,100
| +22% | +$7.34M |
|
178
PUT
Visa
V
$692B
| $42.5M | 0.08% |
121,200
-9,900
| -8% | -$3.37M |
|
179
PUT
iShares MSCI Brazil ETF
EWZ
$9.07B
| $42.2M | 0.08% |
1,328,700
+917,700
| +223% | +$29M |
|
180
CALL
Cipher Digital
CIFR
$7.56B
| $42M | 0.08% |
2,844,400
-296,000
| -9% | -$5.23M |
|
181
CALL
Honeywell
HON
$76.3B
| $41.1M | 0.08% |
210,800
+114,992
| +120% | +$22.5M |
|
182
CALL
Coinbase
COIN
$38.4B
| $41M | 0.08% |
181,100
-54,000
| -23% | -$16.1M |
|
183
CALL
Western Digital
WDC
$156B
| $39.9M | 0.08% |
231,700
-90,700
| -28% | -$13.8M |
|
184
CALL
Verizon
VZ
$195B
| $39.3M | 0.08% |
964,200
+514,600
| +114% | +$20.9M |
|
185
CALL
JD.com
JD
$44.3B
| $38.8M | 0.08% |
1,352,000
+239,200
| +21% | +$7.48M |
|
186
CALL
PayPal
PYPL
$51.1B
| $38.3M | 0.08% |
655,500
-331,100
| -34% | -$21.5M |
|
|
XYZ
187
PUT
Block Inc
XYZ
$47B
| $38.1M | 0.08% |
585,500
-45,600
| -7% | -$3.15M |
|
188
PUT
United Rentals
URI
$72.4B
| $37.8M | 0.07% |
46,700
-1,100
| -2% | -$955K |
|
189
PUT
Peabody Energy
BTU
$2.87B
| $37.7M | 0.07% |
1,267,800
+40,800
| +3% | +$1.2M |
|
190
PUT
MongoDB
MDB
$29.8B
| $37.6M | 0.07% |
89,500
-7,600
| -8% | -$2.77M |
|
191
PUT
TeraWulf
WULF
$8.73B
| $37.4M | 0.07% |
3,258,500
+2,072,500
| +175% | +$27.8M |
|
192
CALL
SLB Ltd
SLB
$76.5B
| $37.1M | 0.07% |
967,500
+511,300
| +112% | +$18.5M |
|
193
Citigroup
C
$224B
| $36.8M | 0.07% |
315,393
-71,213
| -18% | -$7.4M |
|
194
CALL
VanEck Gold Miners ETF
GDX
$25.6B
| $36.7M | 0.07% |
427,800
+111,200
| +35% | +$8.78M |
|
195
CALL
UnitedHealth
UNH
$367B
| $36.2M | 0.07% |
109,600
+30,200
| +38% | +$10.2M |
|
196
CALL
SoFi Technologies
SOFI
$23.4B
| $36.2M | 0.07% |
1,381,000
+366,500
| +36% | +$10.2M |
|
|
SCHW
197
PUT
Charles Schwab
SCHW
$187B
| $36M | 0.07% |
360,300
-73,400
| -17% | -$6.96M |
|
198
CALL
Home Depot
HD
$349B
| $35.1M | 0.07% |
102,100
+46,200
| +83% | +$16.9M |
|
199
CALL
Northrop Grumman
NOC
$80.7B
| $34.8M | 0.07% |
61,000
+8,000
| +15% | +$4.64M |
|
200
CALL
Wells Fargo
WFC
$265B
| $34.5M | 0.07% |
369,900
-174,300
| -32% | -$15.1M |
|
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HF
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.