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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
SAC.U
1101
Safeguard Acquisition Corp Units
SAC.U
$894K ﹤0.01%
+88,617
New +$894K
SNPS icon
1102
PUT
Synopsys
SNPS
$75.1B
$892K ﹤0.01%
1,900
-34,200
-95% -$15.2M
DMIIU
1103
Drugs Made In America Acquisition II Corp Unit
DMIIU
$892K ﹤0.01%
89,079
-282,891
-76% -$2.83M
MRNA icon
1104
Moderna
MRNA
$56B
$891K ﹤0.01%
30,213
-75,628
-71% -$2.05M
HIVE
1105
CALL
HIVE Digital Technologies
HIVE
$864M
$890K ﹤0.01%
345,000
-67,300
-16% -$284K
SWKS icon
1106
CALL
Skyworks Solutions
SWKS
$11.3B
$888K ﹤0.01%
14,000
– –
MGNI icon
1107
Magnite
MGNI
$3.4B
$887K ﹤0.01%
54,658
-76,025
-58% -$1.26M
U icon
1108
PUT
Unity
U
$18.8B
$883K ﹤0.01%
20,000
– –
DUOL icon
1109
PUT
Duolingo
DUOL
$6.85B
$878K ﹤0.01%
+5,000
New +$1.18M
EW icon
1110
CALL
Edwards Lifesciences
EW
$50B
$853K ﹤0.01%
10,000
– –
F icon
1111
CALL
Ford
F
$55.8B
$850K ﹤0.01%
64,800
+14,800
+30% +$191K
LUV icon
1112
CALL
Southwest Airlines
LUV
$18.9B
$839K ﹤0.01%
+20,300
New +$709K
LLYVK icon
1113
Liberty Live Group Series C
LLYVK
$8.99B
$835K ﹤0.01%
10,038
– –
CRON
1114
Cronos Group
CRON
$1.17B
$833K ﹤0.01%
316,745
-44,127
-12% -$114K
TJX icon
1115
CALL
TJX Companies
TJX
$142B
$829K ﹤0.01%
5,400
+900
+20% +$133K
BKH icon
1116
Black Hills Corp
BKH
$5.66B
$829K ﹤0.01%
+11,937
New +$805K
ACMR icon
1117
ACM Research
ACMR
$5.36B
$826K ﹤0.01%
20,937
-2,881
-12% -$107K
WEC icon
1118
PUT
WEC Energy
WEC
$34.9B
$823K ﹤0.01%
7,800
– –
EAT icon
1119
Brinker International
EAT
$9.29B
$817K ﹤0.01%
5,692
+2,010
+55% +$263K
RF icon
1120
PUT
Regions Financial
RF
$25.6B
$813K ﹤0.01%
30,000
– –
FHN icon
1121
CALL
First Horizon
FHN
$11.7B
$813K ﹤0.01%
34,000
+33,800
+16,900% +$753K
DNUT icon
1122
CALL
Krispy Kreme
DNUT
$574M
$808K ﹤0.01%
+201,000
New +$796K
XLB icon
1123
CALL
State Street Materials Select Sector SPDR ETF
XLB
$8.56B
$807K ﹤0.01%
17,800
+17,600
+8,800% +$778K
GEO icon
1124
The GEO Group
GEO
$4.22B
$806K ﹤0.01%
50,000
+30,000
+150% +$500K
AMSC icon
1125
CALL
American Superconductor
AMSC
$1.47B
$791K ﹤0.01%
27,500
– –
43 44
45
46 47

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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.