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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
WAL icon
951
CALL
Western Alliance Bancorporation
WAL
$8.72B
$1.77M ﹤0.01%
21,000
– –
TDOC icon
952
CALL
Teladoc Health
TDOC
$1.14B
$1.75M ﹤0.01%
250,000
– –
QBTS icon
953
D-Wave Quantum Inc
QBTS
$6.58B
$1.74M ﹤0.01%
66,686
-7,063
-10% -$206K
CMA
954
PUT
DELISTED
Comerica
CMA
$1.74M ﹤0.01%
20,000
– –
ROK icon
955
Rockwell Automation
ROK
$47.7B
$1.74M ﹤0.01%
4,468
-228
-5% -$85.7K
ZTS icon
956
CALL
Zoetis
ZTS
$30.4B
$1.74M ﹤0.01%
13,800
– –
ETSY icon
957
CALL
Etsy
ETSY
$6.68B
$1.71M ﹤0.01%
30,900
-48,800
-61% -$2.98M
BP icon
958
BP
BP
$116B
$1.7M ﹤0.01%
48,942
+33,886
+225% +$1.19M
ABBV icon
959
AbbVie
ABBV
$440B
$1.7M ﹤0.01%
7,435
-8,667
-54% -$1.97M
XOP icon
960
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.19B
$1.69M ﹤0.01%
13,376
+13,375
+1,337,500% +$1.73M
GDX icon
961
VanEck Gold Miners ETF
GDX
$29.9B
$1.69M ﹤0.01%
19,690
-101,459
-84% -$8.01M
DOMO icon
962
CALL
Domo
DOMO
$180M
$1.69M ﹤0.01%
+200,000
New +$2.35M
CTSH icon
963
Cognizant
CTSH
$27B
$1.68M ﹤0.01%
+20,243
New +$1.51M
U icon
964
Unity
U
$18.8B
$1.66M ﹤0.01%
37,628
-68,383
-65% -$2.79M
XRT icon
965
State Street SPDR S&P Retail ETF
XRT
$279M
$1.65M ﹤0.01%
19,361
-9,028
-32% -$758K
GEHC icon
966
CALL
GE HealthCare
GEHC
$30.2B
$1.64M ﹤0.01%
20,000
– –
QSR icon
967
PUT
Restaurant Brands International
QSR
$27.3B
$1.64M ﹤0.01%
24,000
– –
RNG icon
968
CALL
RingCentral
RNG
$5.86B
$1.59M ﹤0.01%
55,000
– –
WPM icon
969
CALL
Wheaton Precious Metals
WPM
$70.4B
$1.59M ﹤0.01%
13,500
– –
EWZ icon
970
iShares MSCI Brazil ETF
EWZ
$8.79B
$1.58M ﹤0.01%
+49,676
New +$1.57M
ENPH icon
971
Enphase Energy
ENPH
$5.13B
$1.58M ﹤0.01%
49,237
+42,680
+651% +$1.38M
ULTA icon
972
CALL
Ulta Beauty
ULTA
$23.5B
$1.57M ﹤0.01%
+2,600
New +$1.43M
NNE
973
CALL
Nano Nuclear Energy
NNE
$1.04B
$1.56M ﹤0.01%
65,000
-13,500
-17% -$517K
ABT icon
974
Abbott
ABT
$183B
$1.56M ﹤0.01%
12,444
-22,517
-64% -$2.87M
KLAC icon
975
KLA
KLAC
$247B
$1.56M ﹤0.01%
12,810
-910
-7% -$107K
37 38
39
40 41

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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.