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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
NU icon
126
CALL
Nu Holdings
NU
$74.1B
$64.9M 0.13%
3,874,100
+1,182,300
+44% +$19M
AMT icon
127
CALL
American Tower
AMT
$81.9B
$64.6M 0.13%
368,200
-12,500
-3% -$2.27M
BXMT icon
128
PUT
Blackstone Mortgage Trust
BXMT
$2.34B
$64M 0.13%
3,346,100
+782,700
+31% +$14.8M
IREN icon
129
CALL
Iris Energy
IREN
$18.5B
$62.8M 0.12%
1,663,700
+122,700
+8% +$6.33M
SOFI icon
130
PUT
SoFi Technologies
SOFI
$23.3B
$62M 0.12%
2,367,200
+877,400
+59% +$24.4M
DDOG icon
131
PUT
Datadog
DDOG
$75.5B
$59.5M 0.12%
437,400
+194,700
+80% +$30.8M
AVGO icon
132
Broadcom
AVGO
$1.75T
$59.5M 0.12%
171,818
+101,886
+146% +$36.4M
GEV icon
133
PUT
GE Vernova
GEV
$259B
$59.3M 0.12%
90,700
+78,900
+669% +$48.1M
CVX icon
134
PUT
Chevron
CVX
$412B
$58.9M 0.12%
386,700
+306,700
+383% +$46.7M
WULF icon
135
CALL
TeraWulf
WULF
$8.91B
$58.8M 0.12%
5,121,000
+3,352,700
+190% +$44.9M
TMUS icon
136
PUT
T-Mobile US
TMUS
$195B
$57.1M 0.11%
281,000
+43,200
+18% +$9.16M
RCL icon
137
PUT
Royal Caribbean
RCL
$70.7B
$56.3M 0.11%
201,800
-362,200
-64% -$102M
AMD icon
138
CALL
Advanced Micro Devices
AMD
$826B
$56.2M 0.11%
262,500
-48,100
-15% -$10.8M
FCX icon
139
CALL
Freeport-McMoran
FCX
$110B
$56.2M 0.11%
1,105,700
+796,400
+257% +$34.5M
UBER icon
140
CALL
Uber
UBER
$149B
$55.8M 0.11%
682,500
-149,900
-18% -$13.5M
CEG icon
141
PUT
Constellation Energy
CEG
$106B
$55.5M 0.11%
157,100
+22,100
+16% +$8.03M
PDD icon
142
PUT
Pinduoduo
PDD
$114B
$55.3M 0.11%
487,400
+76,800
+19% +$9.54M
SHOP icon
143
PUT
Shopify
SHOP
$173B
$55M 0.11%
341,900
+208,600
+156% +$33.5M
MMM icon
144
PUT
3M
MMM
$86.4B
$54.9M 0.11%
342,700
+28,400
+9% +$4.64M
DAL icon
145
CALL
Delta Air Lines
DAL
$51.9B
$54.2M 0.11%
780,500
-254,700
-25% -$15.9M
MU icon
146
CALL
Micron Technology
MU
$1.13T
$53.6M 0.11%
187,900
-17,800
-9% -$4.08M
NET icon
147
CALL
Cloudflare
NET
$101B
$53.5M 0.11%
271,300
+161,100
+146% +$34.1M
RTX icon
148
CALL
RTX Corp
RTX
$268B
$53.5M 0.11%
291,500
+48,600
+20% +$8.44M
INTC icon
149
PUT
Intel
INTC
$552B
$53.4M 0.11%
1,447,400
-1,856,100
-56% -$70.1M
XBI icon
150
CALL
State Street SPDR S&P Biotech ETF
XBI
$11.3B
$53.3M 0.11%
437,300
+365,500
+509% +$41.9M
4 5
6
7 8

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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.