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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
BURL icon
701
CALL
Burlington
BURL
$16B
$4.27M 0.01%
14,800
+14,500
+4,833% +$3.93M
ENB icon
702
CALL
Enbridge
ENB
$110B
$4.27M 0.01%
89,300
+81,700
+1,075% +$3.9M
CVE icon
703
CALL
Cenovus Energy
CVE
$61.2B
$4.26M 0.01%
251,500
-298,600
-54% -$5.19M
CVE icon
704
PUT
Cenovus Energy
CVE
$61.2B
$4.23M 0.01%
250,000
– –
NDAQ icon
705
Nasdaq
NDAQ
$53.1B
$4.21M 0.01%
43,312
+22,524
+108% +$2.03M
KKR icon
706
KKR & Co
KKR
$94.9B
$4.17M 0.01%
32,689
+22,880
+233% +$2.85M
XLB icon
707
State Street Materials Select Sector SPDR ETF
XLB
$8.56B
$4.16M 0.01%
91,713
+81,379
+787% +$3.6M
BHP icon
708
PUT
BHP
BHP
$234B
$4.13M 0.01%
+68,400
New +$3.89M
ZS icon
709
Zscaler
ZS
$26.4B
$4.12M 0.01%
18,301
-60,751
-77% -$17.1M
RKT icon
710
Rocket Companies
RKT
$39.1B
$4.11M 0.01%
212,158
+45,594
+27% +$815K
DOCU
711
CALL
DocuSign
DOCU
$12.2B
$4.1M 0.01%
60,000
– –
DINO icon
712
PUT
HF Sinclair
DINO
$19.3B
$4.08M 0.01%
88,500
+1,000
+1% +$51.5K
APA icon
713
PUT
APA Corp
APA
$15.3B
$4.07M 0.01%
166,500
+160,600
+2,722% +$3.88M
BMNR
714
PUT
BitMine Immersion Technologies
BMNR
$14.9B
$4.07M 0.01%
+150,000
New +$6.08M
NKE icon
715
CALL
Nike
NKE
$56.5B
$4.07M 0.01%
63,900
+44,100
+223% +$2.87M
APH icon
716
Amphenol
APH
$202B
$4.06M 0.01%
60,084
-51,938
-46% -$3.47M
JETS icon
717
US Global Jets ETF
JETS
$727M
$4.06M 0.01%
144,573
+144,572
+14,457,200% +$3.76M
OKE icon
718
PUT
Oneok
OKE
$61.5B
$4.04M 0.01%
55,000
– –
XPEV icon
719
CALL
XPeng
XPEV
$10.5B
$4.04M 0.01%
199,200
+49,100
+33% +$1.07M
PG icon
720
PUT
Procter & Gamble
PG
$338B
$3.93M 0.01%
27,400
+24,700
+915% +$3.64M
FSM icon
721
CALL
Fortuna Silver Mines
FSM
$3.6B
$3.92M 0.01%
400,000
– –
RDDT icon
722
Reddit
RDDT
$28.7B
$3.92M 0.01%
+17,064
New +$3.59M
ETN icon
723
Eaton
ETN
$164B
$3.92M 0.01%
+12,298
New +$4.36M
XLP icon
724
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.4B
$3.88M 0.01%
50,000
-150,700
-75% -$11.8M
OXY icon
725
Occidental Petroleum
OXY
$60.6B
$3.88M 0.01%
+94,449
New +$3.94M
27 28
29
30 31

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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.