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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
AMAT icon
176
CALL
Applied Materials
AMAT
$375B
$44.6M 0.09%
173,600
+38,900
+29% +$9.33M
BIDU icon
177
CALL
Baidu
BIDU
$31.4B
$43.1M 0.09%
330,100
+59,100
+22% +$7.34M
V icon
178
PUT
Visa
V
$688B
$42.5M 0.08%
121,200
-9,900
-8% -$3.37M
EWZ icon
179
PUT
iShares MSCI Brazil ETF
EWZ
$8.79B
$42.2M 0.08%
1,328,700
+917,700
+223% +$29M
CIFR icon
180
CALL
Cipher Digital
CIFR
$7.68B
$42M 0.08%
2,844,400
-296,000
-9% -$5.23M
HON icon
181
CALL
Honeywell
HON
$66B
$41.1M 0.08%
210,800
+114,992
+120% +$22.5M
COIN icon
182
CALL
Coinbase
COIN
$47.2B
$41M 0.08%
181,100
-54,000
-23% -$16.1M
WDC icon
183
CALL
Western Digital
WDC
$172B
$39.9M 0.08%
231,700
-90,700
-28% -$13.8M
VZ icon
184
CALL
Verizon
VZ
$209B
$39.3M 0.08%
964,200
+514,600
+114% +$20.9M
JD icon
185
CALL
JD.com
JD
$37.4B
$38.8M 0.08%
1,352,000
+239,200
+21% +$7.48M
PYPL icon
186
CALL
PayPal
PYPL
$45.5B
$38.3M 0.08%
655,500
-331,100
-34% -$21.5M
XYZ
187
PUT
Block Inc
XYZ
$48.1B
$38.1M 0.08%
585,500
-45,600
-7% -$3.15M
URI icon
188
PUT
United Rentals
URI
$63.2B
$37.8M 0.07%
46,700
-1,100
-2% -$955K
BTU icon
189
PUT
Peabody Energy
BTU
$3.59B
$37.7M 0.07%
1,267,800
+40,800
+3% +$1.2M
MDB icon
190
PUT
MongoDB
MDB
$28.7B
$37.6M 0.07%
89,500
-7,600
-8% -$2.77M
WULF icon
191
PUT
TeraWulf
WULF
$8.91B
$37.4M 0.07%
3,258,500
+2,072,500
+175% +$27.8M
SLB icon
192
CALL
SLB Ltd
SLB
$84.7B
$37.1M 0.07%
967,500
+511,300
+112% +$18.5M
C icon
193
Citigroup
C
$229B
$36.8M 0.07%
315,393
-71,213
-18% -$7.4M
GDX icon
194
CALL
VanEck Gold Miners ETF
GDX
$29.9B
$36.7M 0.07%
427,800
+111,200
+35% +$8.78M
UNH icon
195
CALL
UnitedHealth
UNH
$360B
$36.2M 0.07%
109,600
+30,200
+38% +$10.2M
SOFI icon
196
CALL
SoFi Technologies
SOFI
$23.3B
$36.2M 0.07%
1,381,000
+366,500
+36% +$10.2M
SCHW
197
PUT
Charles Schwab
SCHW
$185B
$36M 0.07%
360,300
-73,400
-17% -$6.96M
HD icon
198
CALL
Home Depot
HD
$313B
$35.1M 0.07%
102,100
+46,200
+83% +$16.9M
NOC icon
199
CALL
Northrop Grumman
NOC
$73.7B
$34.8M 0.07%
61,000
+8,000
+15% +$4.64M
WFC icon
200
CALL
Wells Fargo
WFC
$266B
$34.5M 0.07%
369,900
-174,300
-32% -$15.1M
6 7
8
9 10

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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.