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Parallax Volatility Advisers Portfolio holdings
AUM
$38.6B
1-Year Est. Return
45.89%
This Fund
S&P 500
This Quarter
Est. Return
+3.14%
1 Year Est. Return
+45.89%
3 Year Est. Return
+130.56%
5 Year Est. Return
+159.19%
10 Year Est. Return
+649.1%
AUM
$50.7B
AUM Growth
-$15.2B
(-23%)
Cap. Flow
-$16B
Cap. Flow
% of AUM
-31.47%
Top 10 Holdings %
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$263M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$154M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$90.9M |
| 4 |
Alibaba
BABA
|
+$47.6M |
| 5 |
Broadcom
AVGO
|
+$36.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$191M |
| 2 |
NVIDIA
NVDA
|
+$134M |
| 3 |
SPDR Gold Trust
GLD
|
+$80.5M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$65.2M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$49.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.29% |
| 2 | Financials | 1.28% |
| 3 | Consumer Discretionary | 0.7% |
| 4 | Industrials | 0.48% |
| 5 | Communication Services | 0.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
PUT
Roku
ROKU
$22.7B
| $15.4M | 0.03% |
141,900
+10,100
| +8% | +$1.03M |
|
352
PUT
Core Scientific
CORZ
$6.75B
| $15.3M | 0.03% |
1,051,700
+213,300
| +25% | +$3.72M |
|
353
State Street Energy Select Sector SPDR ETF
XLE
$37.7B
| $15.3M | 0.03% |
342,489
+342,487
| +17,124,350% | +$15.3M |
|
|
HUT
354
CALL
Hut 8
HUT
$10.9B
| $15.3M | 0.03% |
333,000
+306,500
| +1,157% | +$13.5M |
|
355
CALL
NextEra Energy
NEE
$177B
| $15.1M | 0.03% |
188,700
-156,500
| -45% | -$13M |
|
356
PUT
Global X Uranium ETF
URA
$6.22B
| $15M | 0.03% |
350,800
+91,700
| +35% | +$4.44M |
|
|
NVO
357
PUT
Novo Nordisk
NVO
$209B
| $14.9M | 0.03% |
292,700
-134,900
| -32% | -$6.9M |
|
358
PUT
Walt Disney
DIS
$181B
| $14.9M | 0.03% |
130,900
-142,900
| -52% | -$15.7M |
|
359
CALL
Fluor
FLR
$7.96B
| $14.8M | 0.03% |
372,200
+186,300
| +100% | +$8.24M |
|
360
PUT
DoorDash
DASH
$93.7B
| $14.7M | 0.03% |
65,000
-1,800
| -3% | -$422K |
|
361
PUT
KB Home
KBH
$3.59B
| $14.6M | 0.03% |
258,500
+35,300
| +16% | +$2.17M |
|
362
CALL
Target
TGT
$68B
| $14.6M | 0.03% |
149,000
+120,700
| +427% | +$11.1M |
|
|
TLN
363
CALL
Talen Energy Corp
TLN
$16.7B
| $14.5M | 0.03% |
38,600
+20,300
| +111% | +$7.89M |
|
364
PUT
First Solar
FSLR
$26.9B
| $14.3M | 0.03% |
54,900
+18,200
| +50% | +$4.59M |
|
|
365
NextEra Energy
NEE
$177B
| $14.3M | 0.03% |
177,663
+142,441
| +404% | +$11.8M |
|
366
General Motors
GM
$76.8B
| $14.2M | 0.03% |
174,557
-171,246
| -50% | -$12.1M |
|
367
PUT
EOG Resources
EOG
$70.7B
| $14.2M | 0.03% |
+134,900
| New | +$14.5M |
|
368
CALL
Carnival Corporation Ltd
CCL
$39.7B
| $14.2M | 0.03% |
463,400
+7,000
| +2% | +$195K |
|
369
CALL
Futu Holdings
FUTU
$15.3B
| $14.1M | 0.03% |
85,900
-17,900
| -17% | -$3.07M |
|
370
iShares China Large-Cap ETF
FXI
$4.31B
| $14M | 0.03% |
366,168
+164,906
| +82% | +$6.54M |
|
371
CALL
Mastercard
MA
$493B
| $14M | 0.03% |
24,500
-91,700
| -79% | -$51.3M |
|
372
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$4.42B
| $13.9M | 0.03% |
+134,000
| New | +$13.2M |
|
373
American Airlines Group
AAL
$10.6B
| $13.8M | 0.03% |
902,114
-769,719
| -46% | -$10.4M |
|
374
PUT
EQT Corp
EQT
$32.3B
| $13.8M | 0.03% |
257,700
-38,200
| -13% | -$2.15M |
|
|
OKLO
375
CALL
Oklo
OKLO
$8.42B
| $13.7M | 0.03% |
191,100
+69,900
| +58% | +$7.8M |
|
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HF
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 withdrew a net $16B in Q4 2025, closing 329 positions and reducing 471 holdings. Its most notable exit was Meta Platforms (Facebook), an estimated $191M position sold in full.
By sector, the portfolio is most concentrated in Technology at 1.3% of assets, down from 1.3% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Parallax Volatility Advisers opened a new position in American Express worth $272M.
- 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.