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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
ROKU icon
351
PUT
Roku
ROKU
$23.1B
$15.4M 0.03%
141,900
+10,100
+8% +$1.03M
CORZ icon
352
PUT
Core Scientific
CORZ
$6.02B
$15.3M 0.03%
1,051,700
+213,300
+25% +$3.72M
XLE icon
353
State Street Energy Select Sector SPDR ETF
XLE
$42.6B
$15.3M 0.03%
342,489
+342,487
+17,124,350% +$15.3M
HUT
354
CALL
Hut 8
HUT
$12.3B
$15.3M 0.03%
333,000
+306,500
+1,157% +$13.5M
NEE icon
355
CALL
NextEra Energy
NEE
$175B
$15.1M 0.03%
188,700
-156,500
-45% -$13M
URA icon
356
PUT
Global X Uranium ETF
URA
$6.65B
$15M 0.03%
350,800
+91,700
+35% +$4.44M
NVO
357
PUT
Novo Nordisk
NVO
$200B
$14.9M 0.03%
292,700
-134,900
-32% -$6.9M
DIS icon
358
PUT
Walt Disney
DIS
$181B
$14.9M 0.03%
130,900
-142,900
-52% -$15.7M
FLR icon
359
CALL
Fluor
FLR
$7.57B
$14.8M 0.03%
372,200
+186,300
+100% +$8.24M
DASH icon
360
PUT
DoorDash
DASH
$86.9B
$14.7M 0.03%
65,000
-1,800
-3% -$422K
KBH icon
361
PUT
KB Home
KBH
$3.08B
$14.6M 0.03%
258,500
+35,300
+16% +$2.17M
TGT icon
362
CALL
Target
TGT
$73.9B
$14.6M 0.03%
149,000
+120,700
+427% +$11.1M
TLN
363
CALL
Talen Energy Corp
TLN
$15.6B
$14.5M 0.03%
38,600
+20,300
+111% +$7.89M
FSLR icon
364
PUT
First Solar
FSLR
$22.9B
$14.3M 0.03%
54,900
+18,200
+50% +$4.59M
NEE icon
365
NextEra Energy
NEE
$175B
$14.3M 0.03%
177,663
+142,441
+404% +$11.8M
GM icon
366
General Motors
GM
$75.3B
$14.2M 0.03%
174,557
-171,246
-50% -$12.1M
EOG icon
367
PUT
EOG Resources
EOG
$76.2B
$14.2M 0.03%
+134,900
New +$14.5M
CCL icon
368
CALL
Carnival Corporation Ltd
CCL
$31.8B
$14.2M 0.03%
463,400
+7,000
+2% +$195K
FUTU icon
369
CALL
Futu Holdings
FUTU
$16.5B
$14.1M 0.03%
85,900
-17,900
-17% -$3.07M
FXI icon
370
iShares China Large-Cap ETF
FXI
$4.17B
$14M 0.03%
366,168
+164,906
+82% +$6.54M
MA icon
371
CALL
Mastercard
MA
$500B
$14M 0.03%
24,500
-91,700
-79% -$51.3M
XME icon
372
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$4.92B
$13.9M 0.03%
+134,000
New +$13.2M
AAL icon
373
American Airlines Group
AAL
$8.55B
$13.8M 0.03%
902,114
-769,719
-46% -$10.4M
EQT icon
374
PUT
EQT Corp
EQT
$34.5B
$13.8M 0.03%
257,700
-38,200
-13% -$2.15M
OKLO
375
CALL
Oklo
OKLO
$8.06B
$13.7M 0.03%
191,100
+69,900
+58% +$7.8M
13 14
15
16 17

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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.