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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
JETS icon
1001
CALL
US Global Jets ETF
JETS
$727M
$1.4M ﹤0.01%
50,000
– –
UBS icon
1002
CALL
UBS Group
UBS
$169B
$1.39M ﹤0.01%
+30,000
New +$1.21M
DXCM icon
1003
PUT
DexCom
DXCM
$31.9B
$1.38M ﹤0.01%
20,800
-19,200
-48% -$1.24M
LULU icon
1004
CALL
lululemon athletica
LULU
$11.4B
$1.37M ﹤0.01%
6,600
-1,100
-14% -$199K
TTWO icon
1005
CALL
Take-Two Interactive
TTWO
$39.9B
$1.36M ﹤0.01%
5,300
– –
CTRA
1006
CALL
DELISTED
Coterra Energy
CTRA
$1.35M ﹤0.01%
+51,400
New +$1.3M
UNFI icon
1007
United Natural Foods
UNFI
$2.71B
$1.35M ﹤0.01%
40,000
– –
PATH icon
1008
CALL
UiPath
PATH
$7.26B
$1.34M ﹤0.01%
81,800
– –
XLP icon
1009
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.4B
$1.32M ﹤0.01%
16,965
+16,964
+1,696,400% +$1.32M
RDDT icon
1010
PUT
Reddit
RDDT
$28.7B
$1.31M ﹤0.01%
+5,700
New +$1.2M
FHN icon
1011
First Horizon
FHN
$11.7B
$1.31M ﹤0.01%
54,718
+8,526
+18% +$190K
SPGI icon
1012
PUT
S&P Global
SPGI
$127B
$1.31M ﹤0.01%
2,500
– –
SNDK
1013
CALL
Sandisk
SNDK
$254B
$1.31M ﹤0.01%
5,500
-25,600
-82% -$5.13M
ITUB icon
1014
PUT
Itaú Unibanco
ITUB
$91.6B
$1.31M ﹤0.01%
182,300
-5,469
-3% -$38.9K
NWL icon
1015
CALL
Newell Brands
NWL
$2.7B
$1.3M ﹤0.01%
350,000
– –
FLG
1016
PUT
Flagstar Bank National Association
FLG
$5.6B
$1.26M ﹤0.01%
100,000
– –
LMT icon
1017
PUT
Lockheed Martin
LMT
$124B
$1.26M ﹤0.01%
2,600
+100
+4% +$47.9K
BTI icon
1018
British American Tobacco
BTI
$119B
$1.25M ﹤0.01%
22,134
-1,951
-8% -$106K
UEC icon
1019
Uranium Energy
UEC
$5.88B
$1.25M ﹤0.01%
+107,108
New +$1.41M
EQIX icon
1020
Equinix
EQIX
$103B
$1.25M ﹤0.01%
+1,632
New +$1.28M
ZBH icon
1021
PUT
Zimmer Biomet
ZBH
$18B
$1.25M ﹤0.01%
13,900
– –
AFRM icon
1022
CALL
Affirm
AFRM
$24.3B
$1.24M ﹤0.01%
16,700
-85,300
-84% -$6.14M
USB icon
1023
CALL
US Bancorp
USB
$97.4B
$1.24M ﹤0.01%
23,200
+22,000
+1,833% +$1.08M
DOCU
1024
DocuSign
DOCU
$12.2B
$1.23M ﹤0.01%
18,046
-52,144
-74% -$3.61M
BHP icon
1025
BHP
BHP
$234B
$1.23M ﹤0.01%
20,316
+5,797
+40% +$329K
39 40
41
42 43

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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.