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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
DBA icon
1326
Invesco DB Agriculture Fund
DBA
$1.26B
$232K ﹤0.01%
9,103
– –
EWC icon
1327
CALL
iShares MSCI Canada ETF
EWC
$6.87B
$232K ﹤0.01%
4,300
+1,900
+79% +$98.2K
AG icon
1328
PUT
First Majestic Silver
AG
$10.2B
$230K ﹤0.01%
+13,800
New +$192K
DNMXU
1329
Dynamix Corporation III Unit
DNMXU
$226K ﹤0.01%
+22,500
New +$227K
HTZWW
1330
Hertz Global Holdings Warrants
HTZWW
$88.6M
$225K ﹤0.01%
83,850
– –
ZTO icon
1331
ZTO Express
ZTO
$15.8B
$222K ﹤0.01%
+10,606
New +$210K
PINS icon
1332
CALL
Pinterest
PINS
$11.4B
$220K ﹤0.01%
8,500
-7,100
-46% -$204K
FAST icon
1333
Fastenal
FAST
$56.7B
$220K ﹤0.01%
+5,483
New +$231K
DHI icon
1334
PUT
D.R. Horton
DHI
$38.7B
$216K ﹤0.01%
+1,500
New +$228K
TH icon
1335
Target Hospitality
TH
$2.02B
$215K ﹤0.01%
26,843
+1,860
+7% +$14.1K
PBF icon
1336
CALL
PBF Energy
PBF
$9.1B
$214K ﹤0.01%
7,900
– –
HSY icon
1337
Hershey
HSY
$34.8B
$211K ﹤0.01%
1,157
-3,792
-77% -$693K
STLD icon
1338
Steel Dynamics
STLD
$34.4B
$209K ﹤0.01%
+1,232
New +$196K
FMC icon
1339
PUT
FMC
FMC
$1.6B
$208K ﹤0.01%
+15,000
New +$286K
WBD icon
1340
CALL
Warner Bros
WBD
$70.5B
$208K ﹤0.01%
7,200
-268,300
-97% -$6.27M
FTNT icon
1341
CALL
Fortinet
FTNT
$116B
$206K ﹤0.01%
2,600
– –
ZION icon
1342
CALL
Zions Bancorporation
ZION
$9.98B
$205K ﹤0.01%
+3,500
New +$191K
HBAN icon
1343
Huntington Bancshares
HBAN
$33.9B
$203K ﹤0.01%
11,712
-76,956
-87% -$1.26M
IR icon
1344
Ingersoll Rand
IR
$29.1B
$202K ﹤0.01%
+2,556
New +$202K
MKC icon
1345
McCormick & Company Non-Voting
MKC
$14B
$202K ﹤0.01%
2,963
-3,099
-51% -$206K
CRDO icon
1346
PUT
Credo Technology Group
CRDO
$31.5B
$201K ﹤0.01%
+1,400
New +$215K
IGACU
1347
Invest Green Acquisition Corp Units
IGACU
$201K ﹤0.01%
+20,000
New +$200K
EWH icon
1348
iShares MSCI Hong Kong ETF
EWH
$1.19B
$200K ﹤0.01%
+9,428
New +$205K
GRAB icon
1349
PUT
Grab
GRAB
$13.3B
$200K ﹤0.01%
40,100
+22,100
+123% +$122K
KCHVR
1350
Kochav Defense Acquisition Corp Right
KCHVR
$199K ﹤0.01%
828,679
+65,190
+9% +$17.7K
52 53
54
55 56

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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.