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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
ARM icon
151
PUT
Arm
ARM
$279B
$52.8M 0.1%
483,300
+123,900
+34% +$18M
FXI icon
152
PUT
iShares China Large-Cap ETF
FXI
$4.17B
$52M 0.1%
1,358,400
+498,700
+58% +$19.8M
LYV icon
153
PUT
Live Nation Entertainment
LYV
$39.7B
$51.8M 0.1%
363,700
+32,500
+10% +$4.67M
XOM icon
154
PUT
ExxonMobil
XOM
$661B
$51.7M 0.1%
430,000
-79,900
-16% -$9.27M
WFC icon
155
Wells Fargo
WFC
$266B
$51.6M 0.1%
553,377
+166,949
+43% +$14.5M
RIVN icon
156
CALL
Rivian
RIVN
$23.4B
$50.2M 0.1%
2,545,000
+1,520,000
+148% +$24.1M
PFE icon
157
CALL
Pfizer
PFE
$158B
$50.2M 0.1%
2,014,500
+987,200
+96% +$24.9M
NET icon
158
Cloudflare
NET
$101B
$49.8M 0.1%
252,397
-115,983
-31% -$24.5M
BABA icon
159
Alibaba
BABA
$280B
$49.5M 0.1%
337,770
+291,985
+638% +$47.6M
SMCI icon
160
PUT
Super Micro Computer
SMCI
$26.4B
$48.9M 0.1%
1,670,200
-187,000
-10% -$7.7M
HD icon
161
PUT
Home Depot
HD
$313B
$48M 0.09%
139,600
+66,900
+92% +$24.5M
XLV icon
162
PUT
State Street Health Care Select Sector SPDR ETF
XLV
$43.5B
$48M 0.09%
310,000
-22,300
-7% -$3.34M
AXON
163
PUT
Axon Enterprise
AXON
$41.1B
$47.9M 0.09%
84,400
+15,000
+22% +$9.31M
NET icon
164
PUT
Cloudflare
NET
$101B
$47.8M 0.09%
242,700
-3,100
-1% -$656K
USB icon
165
PUT
US Bancorp
USB
$97.4B
$47.6M 0.09%
892,200
+608,800
+215% +$29.9M
PYPL icon
166
PUT
PayPal
PYPL
$45.5B
$47.4M 0.09%
812,500
+171,300
+27% +$11.1M
BBY icon
167
CALL
Best Buy
BBY
$18.8B
$47.1M 0.09%
703,100
+24,300
+4% +$1.85M
RKT icon
168
PUT
Rocket Companies
RKT
$39.1B
$46.7M 0.09%
2,410,000
+200,000
+9% +$3.58M
CRWD icon
169
CrowdStrike
CRWD
$215B
$46.1M 0.09%
393,436
+18,716
+5% +$2.38M
RIOT icon
170
CALL
Riot Platforms
RIOT
$8.35B
$46.1M 0.09%
3,637,000
+563,700
+18% +$9.64M
OXY icon
171
PUT
Occidental Petroleum
OXY
$60.6B
$46M 0.09%
1,119,400
+636,300
+132% +$26.6M
GEV icon
172
GE Vernova
GEV
$259B
$46M 0.09%
70,328
-6,709
-9% -$4.09M
BURL icon
173
PUT
Burlington
BURL
$16B
$45.7M 0.09%
158,300
+107,100
+209% +$29.1M
FCX icon
174
PUT
Freeport-McMoran
FCX
$110B
$44.9M 0.09%
883,900
+519,800
+143% +$22.5M
MRVL icon
175
PUT
Marvell Technology
MRVL
$203B
$44.7M 0.09%
526,200
-453,900
-46% -$39.7M
5 6
7
8 9

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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.