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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 | |
|---|---|---|---|---|---|---|
501
PUT
CoStar Group
CSGP
$12.3B
| $8.43M | 0.02% |
+125,400
| New | +$8.88M |
|
502
PUT
Seagate
STX
$184B
| $8.26M | 0.02% |
30,000
-4,900
| -14% | -$1.27M |
|
503
CALL
Williams Companies
WMB
$86.1B
| $8.11M | 0.02% |
+135,000
| New | +$8.16M |
|
504
PUT
Fortinet
FTNT
$117B
| $8.11M | 0.02% |
102,100
+37,100
| +57% | +$3.08M |
|
505
PUT
Winnebago Industries
WGO
$909M
| $8.1M | 0.02% |
200,000
+50,000
| +33% | +$1.82M |
|
506
PUT
Union Pacific
UNP
$174B
| $8.1M | 0.02% |
35,000
+31,200
| +821% | +$7.12M |
|
507
CALL
Booking.com
BKNG
$161B
| $8.03M | 0.02% |
37,500
| – | – |
|
508
CALL
Celsius Holdings
CELH
$7.03B
| $8.03M | 0.02% |
175,600
+10,700
| +6% | +$539K |
|
509
DoorDash
DASH
$93.7B
| $8.03M | 0.02% |
35,453
+183
| +0.5% | +$42.9K |
|
510
CALL
RH
RH
$3.71B
| $7.94M | 0.02% |
44,300
+4,200
| +10% | +$718K |
|
511
PUT
Mattel
MAT
$4.23B
| $7.94M | 0.02% |
400,000
| – | – |
|
512
CALL
CrowdStrike
CRWD
$218B
| $7.88M | 0.02% |
67,200
-100,800
| -60% | -$12.8M |
|
513
Chevron
CVX
$366B
| $7.87M | 0.02% |
51,622
+33,136
| +179% | +$5.05M |
|
514
Boston Scientific
BSX
$71.5B
| $7.83M | 0.02% |
82,132
+26,967
| +49% | +$2.64M |
|
515
CALL
Gilead Sciences
GILD
$165B
| $7.82M | 0.02% |
63,700
-1,300
| -2% | -$158K |
|
516
PUT
FedEx
FDX
$75.4B
| $7.77M | 0.02% |
26,900
+13,600
| +102% | +$3.57M |
|
517
CALL
Intuitive Surgical
ISRG
$134B
| $7.76M | 0.02% |
+13,700
| New | +$7.29M |
|
518
CALL
Flex
FLEX
$44.8B
| $7.74M | 0.02% |
128,100
| – | – |
|
519
CALL
Nutrien
NTR
$30.7B
| $7.71M | 0.02% |
125,000
| – | – |
|
|
520
PUT
Nutrien
NTR
$30.7B
| $7.71M | 0.02% |
125,000
| – | – |
|
521
Nike
NKE
$61.9B
| $7.7M | 0.02% |
120,925
-183,500
| -60% | -$12M |
|
522
CALL
Southern Company
SO
$107B
| $7.7M | 0.02% |
88,300
+8,300
| +10% | +$758K |
|
523
CALL
Shopify
SHOP
$195B
| $7.69M | 0.02% |
47,800
+35,300
| +282% | +$5.67M |
|
524
CALL
Cleveland-Cliffs
CLF
$6.99B
| $7.66M | 0.02% |
577,000
+27,000
| +5% | +$341K |
|
525
CALL
Barclays
BCS
$94.1B
| $7.63M | 0.02% |
300,000
| – | – |
|
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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.