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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 | |
|---|---|---|---|---|---|---|
526
Seagate
STX
$184B
| $7.62M | 0.02% |
27,658
-34,334
| -55% | -$8.91M |
|
527
CALL
Caterpillar
CAT
$387B
| $7.56M | 0.01% |
13,200
-132,300
| -91% | -$73.5M |
|
528
CALL
Rigetti Computing
RGTI
$5.99B
| $7.53M | 0.01% |
340,000
+14,000
| +4% | +$456K |
|
529
PUT
Astera Labs
ALAB
$58B
| $7.44M | 0.01% |
44,700
+41,100
| +1,142% | +$6.88M |
|
530
CALL
Dell
DELL
$293B
| $7.43M | 0.01% |
59,000
+24,100
| +69% | +$3.39M |
|
531
PUT
Etsy
ETSY
$7.85B
| $7.4M | 0.01% |
133,500
+10,700
| +9% | +$653K |
|
532
Home Depot
HD
$355B
| $7.38M | 0.01% |
21,458
+11,239
| +110% | +$4.12M |
|
533
PUT
MetLife
MET
$62.1B
| $7.38M | 0.01% |
93,500
-167,500
| -64% | -$13.3M |
|
534
Core Scientific
CORZ
$6.75B
| $7.38M | 0.01% |
+506,803
| New | +$8.84M |
|
535
PUT
Zoom
ZM
$30.6B
| $7.33M | 0.01% |
+85,000
| New | +$7.15M |
|
536
PUT
CVS Health
CVS
$122B
| $7.33M | 0.01% |
92,400
-95,100
| -51% | -$7.5M |
|
537
Super Micro Computer
SMCI
$20.1B
| $7.32M | 0.01% |
250,000
-13,208
| -5% | -$544K |
|
538
PUT
Starbucks
SBUX
$120B
| $7.3M | 0.01% |
86,700
+34,700
| +67% | +$2.93M |
|
539
PUT
Eaton
ETN
$174B
| $7.29M | 0.01% |
22,900
+17,100
| +295% | +$6.06M |
|
540
PUT
Porch Group
PRCH
$1.8B
| $7.24M | 0.01% |
+792,500
| New | +$9.54M |
|
541
Eli Lilly
LLY
$1.06T
| $7.21M | 0.01% |
+6,705
| New | +$6.41M |
|
542
CALL
Chipotle Mexican Grill
CMG
$41.5B
| $7.19M | 0.01% |
194,300
+49,000
| +34% | +$1.77M |
|
|
EXE
543
CALL
Expand Energy Corp
EXE
$21.5B
| $7.17M | 0.01% |
65,000
+49,700
| +325% | +$5.51M |
|
544
CALL
Microchip Technology
MCHP
$46B
| $7.16M | 0.01% |
+112,400
| New | +$6.93M |
|
545
CALL
Coeur Mining
CDE
$17.9B
| $7.13M | 0.01% |
400,000
| – | – |
|
546
PUT
Shell
SHEL
$245B
| $7.13M | 0.01% |
97,000
+66,400
| +217% | +$4.89M |
|
547
PUT
Humana
HUM
$46.2B
| $7.12M | 0.01% |
27,800
-14,000
| -33% | -$3.67M |
|
548
Blackrock
BLK
$176B
| $7.12M | 0.01% |
6,652
-784
| -11% | -$857K |
|
|
549
Starbucks
SBUX
$120B
| $7.12M | 0.01% |
84,519
-2,769
| -3% | -$234K |
|
550
PUT
Okta
OKTA
$25.8B
| $7.11M | 0.01% |
82,200
-1,800
| -2% | -$157K |
|
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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.