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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
RRC icon
551
CALL
Range Resources
RRC
$9.79B
$7.05M 0.01%
200,000
– –
FHN icon
552
PUT
First Horizon
FHN
$11.7B
$7.05M 0.01%
295,000
+195,000
+195% +$4.35M
ICE icon
553
Intercontinental Exchange
ICE
$88.6B
$7.04M 0.01%
43,471
+13,159
+43% +$2.06M
DUK icon
554
CALL
Duke Energy
DUK
$94.5B
$7.03M 0.01%
60,000
– –
PSA icon
555
CALL
Public Storage
PSA
$55.5B
$7.01M 0.01%
+27,000
New +$7.55M
CEG icon
556
CALL
Constellation Energy
CEG
$106B
$6.99M 0.01%
19,800
-6,200
-24% -$2.25M
OWL icon
557
PUT
Blue Owl Capital
OWL
$7.67B
$6.98M 0.01%
467,100
+242,100
+108% +$3.79M
JEF icon
558
PUT
Jefferies Financial Group
JEF
$12.8B
$6.95M 0.01%
112,200
-1,500
-1% -$86K
BMY icon
559
PUT
Bristol-Myers Squibb
BMY
$132B
$6.93M 0.01%
128,400
+46,800
+57% +$2.25M
XLV icon
560
State Street Health Care Select Sector SPDR ETF
XLV
$43.5B
$6.92M 0.01%
44,693
-2,767
-6% -$414K
FDX icon
561
FedEx
FDX
$74.3B
$6.86M 0.01%
23,763
+15,662
+193% +$4.11M
XRT icon
562
PUT
State Street SPDR S&P Retail ETF
XRT
$279M
$6.82M 0.01%
80,000
-42,000
-34% -$3.53M
Z icon
563
Zillow
Z
$7.28B
$6.82M 0.01%
100,000
-78,893
-44% -$5.71M
LIN icon
564
Linde
LIN
$216B
$6.8M 0.01%
15,958
+13,974
+704% +$5.99M
URA icon
565
CALL
Global X Uranium ETF
URA
$6.65B
$6.8M 0.01%
159,100
+24,700
+18% +$1.2M
UAA icon
566
Under Armour
UAA
$2.17B
$6.79M 0.01%
1,367,014
+113,209
+9% +$524K
AMGN icon
567
PUT
Amgen
AMGN
$213B
$6.74M 0.01%
20,600
+600
+3% +$190K
AA icon
568
PUT
Alcoa
AA
$13.7B
$6.73M 0.01%
126,600
-24,500
-16% -$1M
BSX icon
569
CALL
Boston Scientific
BSX
$65.2B
$6.67M 0.01%
70,000
+45,000
+180% +$4.41M
MTN icon
570
PUT
Vail Resorts
MTN
$4.74B
$6.64M 0.01%
50,000
-189,000
-79% -$27.8M
ON icon
571
PUT
ON Semiconductor
ON
$27.7B
$6.63M 0.01%
122,500
+20,000
+20% +$1.03M
IBKR icon
572
Interactive Brokers
IBKR
$41.2B
$6.63M 0.01%
103,072
+3,916
+4% +$262K
SNAP icon
573
CALL
Snap
SNAP
$9.18B
$6.62M 0.01%
820,000
-3,800
-0.5% -$30.1K
MO icon
574
CALL
Altria Group
MO
$114B
$6.56M 0.01%
113,800
+103,700
+1,027% +$6.26M
AMGN icon
575
CALL
Amgen
AMGN
$213B
$6.55M 0.01%
20,000
– –
21 22
23
24 25

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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.