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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 | |
|---|---|---|---|---|---|---|
376
CALL
Toronto Dominion Bank
TD
$200B
| $13.7M | 0.03% |
145,000
| – | – |
|
377
PUT
Riot Platforms
RIOT
$7.76B
| $13.6M | 0.03% |
1,076,200
+308,300
| +40% | +$5.27M |
|
378
Uber
UBER
$153B
| $13.5M | 0.03% |
+165,504
| New | +$14.9M |
|
379
Newmont
NEM
$119B
| $13.5M | 0.03% |
+135,291
| New | +$12.2M |
|
|
ETHA
380
iShares Ethereum Trust ETF
ETHA
$5.55B
| $13.4M | 0.03% |
+599,615
| New | +$15.7M |
|
381
Palo Alto Networks
PANW
$297B
| $13.4M | 0.03% |
72,963
+67,655
| +1,275% | +$13.6M |
|
382
Vertiv
VRT
$105B
| $13.4M | 0.03% |
+82,850
| New | +$14.4M |
|
383
Cisco
CSCO
$479B
| $13.2M | 0.03% |
+171,162
| New | +$12.7M |
|
384
CALL
ServiceNow
NOW
$129B
| $13M | 0.03% |
+85,000
| New | +$14.6M |
|
385
State Street
STT
$50.7B
| $12.9M | 0.03% |
99,859
+72,359
| +263% | +$8.66M |
|
386
CALL
Marvell Technology
MRVL
$196B
| $12.9M | 0.03% |
151,500
+51,600
| +52% | +$4.52M |
|
387
Bank of America
BAC
$442B
| $12.8M | 0.03% |
232,225
-443,147
| -66% | -$23.4M |
|
388
CALL
iShares Semiconductor ETF
SOXX
$48.7B
| $12.8M | 0.03% |
42,400
+16,800
| +66% | +$4.95M |
|
389
Robinhood
HOOD
$83.9B
| $12.7M | 0.03% |
112,398
+42,667
| +61% | +$5.55M |
|
390
CALL
Waste Management
WM
$91B
| $12.6M | 0.02% |
57,500
| – | – |
|
391
CALL
ARK Innovation ETF
ARKK
$6.31B
| $12.6M | 0.02% |
163,300
+64,800
| +66% | +$5.37M |
|
392
PUT
PNC Financial Services
PNC
$101B
| $12.5M | 0.02% |
60,000
| – | – |
|
393
CALL
Arista Networks
ANET
$238B
| $12.5M | 0.02% |
95,100
-23,000
| -19% | -$3.17M |
|
394
PUT
Calumet Specialty Products
CLMT
$3.44B
| $12.4M | 0.02% |
+625,000
| New | +$12M |
|
395
PUT
Altria Group
MO
$114B
| $12.4M | 0.02% |
214,500
+122,000
| +132% | +$7.37M |
|
|
SCHW
396
CALL
Charles Schwab
SCHW
$187B
| $12.3M | 0.02% |
123,000
-47,400
| -28% | -$4.5M |
|
397
CALL
Johnson Controls International
JCI
$92.2B
| $12.2M | 0.02% |
102,200
-170,000
| -62% | -$19.5M |
|
398
Walmart Inc
WMT
$890B
| $12.2M | 0.02% |
109,821
+51,439
| +88% | +$5.52M |
|
399
CALL
Wynn Resorts
WYNN
$10.6B
| $12M | 0.02% |
+99,500
| New | +$12.3M |
|
|
400
PUT
Wynn Resorts
WYNN
$10.6B
| $12M | 0.02% |
99,500
| – | – |
|
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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 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.