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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 | |
|---|---|---|---|---|---|---|
476
Advanced Micro Devices
AMD
$789B
| $9.17M | 0.02% |
42,801
-62,433
| -59% | -$14M |
|
477
PUT
Cheniere Energy
LNG
$52.9B
| $9.16M | 0.02% |
47,100
+44,000
| +1,419% | +$9.24M |
|
478
Roblox
RBLX
$27B
| $9.15M | 0.02% |
112,896
+49,700
| +79% | +$5.28M |
|
479
CALL
Starbucks
SBUX
$120B
| $9.12M | 0.02% |
108,300
+108,200
| +108,200% | +$9.13M |
|
480
Roku
ROKU
$22.7B
| $9.08M | 0.02% |
83,653
-45,422
| -35% | -$4.61M |
|
|
OKLO
481
PUT
Oklo
OKLO
$8.42B
| $9.05M | 0.02% |
126,100
-5,400
| -4% | -$602K |
|
482
PUT
Under Armour
UAA
$2.6B
| $8.99M | 0.02% |
1,808,500
+3,400
| +0.2% | +$15.7K |
|
483
PUT
Ford
F
$55.7B
| $8.98M | 0.02% |
684,800
+586,800
| +599% | +$7.57M |
|
484
PepsiCo
PEP
$190B
| $8.96M | 0.02% |
62,421
+14,286
| +30% | +$2.1M |
|
485
PUT
RingCentral
RNG
$5.28B
| $8.95M | 0.02% |
310,000
| – | – |
|
|
SNDK
486
Sandisk
SNDK
$177B
| $8.94M | 0.02% |
37,670
+30,762
| +445% | +$6.16M |
|
487
TJX Companies
TJX
$178B
| $8.86M | 0.02% |
57,699
-2,707
| -4% | -$400K |
|
488
CALL
Workday
WDAY
$44.4B
| $8.85M | 0.02% |
41,200
-3,200
| -7% | -$727K |
|
489
CALL
IBM
IBM
$224B
| $8.83M | 0.02% |
29,800
+4,800
| +19% | +$1.44M |
|
490
CALL
Unity
U
$18.9B
| $8.79M | 0.02% |
198,900
-11,100
| -5% | -$452K |
|
491
PUT
Blackrock
BLK
$176B
| $8.78M | 0.02% |
8,200
+7,400
| +925% | +$8.09M |
|
492
CALL
Palo Alto Networks
PANW
$297B
| $8.77M | 0.02% |
47,600
-95,000
| -67% | -$19.2M |
|
493
CALL
CAVA Group
CAVA
$7.27B
| $8.76M | 0.02% |
149,200
-100
| -0.1% | -$5.58K |
|
494
PUT
RTX Corp
RTX
$301B
| $8.75M | 0.02% |
47,700
+500
| +1% | +$86.9K |
|
495
PUT
Nutanix
NTNX
$16.9B
| $8.69M | 0.02% |
168,200
| – | – |
|
496
CALL
Comstock Resources
CRK
$3.94B
| $8.63M | 0.02% |
+372,400
| New | +$8.21M |
|
497
PUT
AngloGold Ashanti
AU
$48.7B
| $8.53M | 0.02% |
100,000
| – | – |
|
498
CALL
Philip Morris
PM
$295B
| $8.49M | 0.02% |
52,900
+30,400
| +135% | +$4.71M |
|
499
CALL
Equinox Gold
EQX
$13.5B
| $8.46M | 0.02% |
602,700
+160,000
| +36% | +$2.02M |
|
500
PUT
Bank of Montreal
BMO
$127B
| $8.44M | 0.02% |
65,000
| – | – |
|
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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.