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Parallax Volatility Advisers

Parallax Volatility Advisers Portfolio holdings

AUM $58.9B
1-Year Est. Return 51.73%
This Fund
S&P 500
This Quarter Est. Return
+3.14%
1 Year Est. Return
+51.73%
3 Year Est. Return
+168.58%
5 Year Est. Return
+213.54%
10 Year Est. Return
+865.31%
AUM
$50.7B
AUM Growth
-$15.2B
Cap. Flow
-$465M
Cap. Flow %
-0.92%
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329

Top Buys

Rank Stock Value
1
AXP icon
American Express
AXP
+$263M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$154M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$90.9M
4
BABA icon
Alibaba
BABA
+$47.6M
5
AVGO icon
Broadcom
AVGO
+$36.4M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$191M
2
NVDA icon
NVIDIA
NVDA
+$134M
3
GLD icon
SPDR Gold Trust
GLD
+$80.5M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$65.2M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$49.8M

Sector Composition

Rank Sector Weight
1 Miscellaneous 95.43%
2 Technology 1.29%
3 Financials 1.28%
4 Consumer Discretionary 0.7%
5 Industrials 0.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NU icon
326
PUT
Nu Holdings
NU
$74.1B
$17.5M 0.03%
1,044,600
-208,200
-17% -$3.35M
TLT icon
327
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$47.1B
$17.4M 0.03%
200,100
+137,500
+220% +$12.3M
LRCX icon
328
CALL
Lam Research
LRCX
$401B
$17.4M 0.03%
101,700
-44,100
-30% -$6.86M
KR icon
329
CALL
Kroger
KR
$35B
$17.4M 0.03%
278,500
+72,000
+35% +$4.71M
GH icon
330
PUT
Guardant Health
GH
$21.6B
$17.4M 0.03%
170,000
-1,230,000
-88% -$110M
NOW icon
331
PUT
ServiceNow
NOW
$139B
$17.3M 0.03%
+112,700
New +$19.3M
APLD icon
332
CALL
Applied Digital
APLD
$8.05B
$17M 0.03%
692,800
+428,600
+162% +$12.3M
NFLX icon
333
Netflix
NFLX
$320B
$16.9M 0.03%
180,574
-265,316
-60% -$28.6M
DG icon
334
CALL
Dollar General
DG
$28.2B
$16.8M 0.03%
126,800
-5,800
-4% -$647K
XME icon
335
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.92B
$16.8M 0.03%
161,800
+64,600
+66% +$6.38M
WDC icon
336
Western Digital
WDC
$172B
$16.7M 0.03%
97,217
+60,186
+163% +$9.13M
CAT icon
337
Caterpillar
CAT
$378B
$16.7M 0.03%
+29,177
New +$16.2M
JPM icon
338
JPMorgan Chase
JPM
$940B
$16.7M 0.03%
51,775
-15,622
-23% -$4.84M
INTU icon
339
CALL
Intuit
INTU
$87.2B
$16.6M 0.03%
25,000
+24,800
+12,400% +$16.4M
TWLO icon
340
PUT
Twilio
TWLO
$34.7B
$16.5M 0.03%
116,000
+10,000
+9% +$1.24M
COF icon
341
Capital One
COF
$131B
$16.5M 0.03%
68,020
+65,885
+3,086% +$14.7M
TXN icon
342
PUT
Texas Instruments
TXN
$236B
$16.5M 0.03%
95,000
-82,500
-46% -$14.1M
HYG icon
343
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.4B
$16.5M 0.03%
+204,395
New +$16.5M
MCK icon
344
CALL
McKesson
MCK
$104B
$16.4M 0.03%
20,000
– –
DJT icon
345
PUT
Trump Media & Technology Group
DJT
$2.57B
$16.2M 0.03%
1,223,900
+734,600
+150% +$10M
ZS icon
346
CALL
Zscaler
ZS
$26.4B
$16.2M 0.03%
72,000
+66,700
+1,258% +$18.8M
DAL icon
347
Delta Air Lines
DAL
$51.9B
$16.1M 0.03%
231,783
-187,129
-45% -$11.7M
SCHW
348
Charles Schwab
SCHW
$185B
$16.1M 0.03%
160,692
+11,344
+8% +$1.08M
COP icon
349
PUT
ConocoPhillips
COP
$162B
$15.9M 0.03%
+169,800
New +$15.4M
ANF icon
350
PUT
Abercrombie & Fitch
ANF
$6.73B
$15.5M 0.03%
122,900
-400
-0.3% -$35K
12 13
14
15 16

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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's Q4 2025 filing shows 364 new, 545 increased, 471 reduced and 329 closed positions. Its largest new stake was American Express: 733,883 shares worth $272M. The largest sale was Meta Platforms (Facebook), an estimated $191M.

By sector, the portfolio is most concentrated in Miscellaneous at 95% of assets, down from 96% a quarter earlier, followed by Technology and Financials.

  • 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.