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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 | |
|---|---|---|---|---|---|---|
551
CALL
Range Resources
RRC
$8.95B
| $7.05M | 0.01% |
200,000
| – | – |
|
552
PUT
First Horizon
FHN
$12.1B
| $7.05M | 0.01% |
295,000
+195,000
| +195% | +$4.35M |
|
553
Intercontinental Exchange
ICE
$84.4B
| $7.04M | 0.01% |
43,471
+13,159
| +43% | +$2.06M |
|
554
CALL
Duke Energy
DUK
$97.3B
| $7.03M | 0.01% |
60,000
| – | – |
|
555
CALL
Public Storage
PSA
$61.3B
| $7.01M | 0.01% |
+27,000
| New | +$7.55M |
|
556
CALL
Constellation Energy
CEG
$95.6B
| $6.99M | 0.01% |
19,800
-6,200
| -24% | -$2.25M |
|
557
PUT
Blue Owl Capital
OWL
$18.5B
| $6.98M | 0.01% |
467,100
+242,100
| +108% | +$3.79M |
|
558
PUT
Jefferies Financial Group
JEF
$13.1B
| $6.95M | 0.01% |
112,200
-1,500
| -1% | -$86K |
|
559
PUT
Bristol-Myers Squibb
BMY
$132B
| $6.93M | 0.01% |
128,400
+46,800
| +57% | +$2.25M |
|
560
State Street Health Care Select Sector SPDR ETF
XLV
$42.7B
| $6.92M | 0.01% |
44,693
-2,767
| -6% | -$414K |
|
561
FedEx
FDX
$75.4B
| $6.86M | 0.01% |
23,763
+15,662
| +193% | +$4.11M |
|
562
PUT
State Street SPDR S&P Retail ETF
XRT
$327M
| $6.82M | 0.01% |
80,000
-42,000
| -34% | -$3.53M |
|
563
Zillow
Z
$7.56B
| $6.82M | 0.01% |
100,000
-78,893
| -44% | -$5.71M |
|
564
Linde
LIN
$226B
| $6.8M | 0.01% |
15,958
+13,974
| +704% | +$5.99M |
|
565
CALL
Global X Uranium ETF
URA
$6.22B
| $6.8M | 0.01% |
159,100
+24,700
| +18% | +$1.2M |
|
566
Under Armour
UAA
$2.6B
| $6.79M | 0.01% |
1,367,014
+113,209
| +9% | +$524K |
|
567
PUT
Amgen
AMGN
$222B
| $6.74M | 0.01% |
20,600
+600
| +3% | +$190K |
|
568
PUT
Alcoa
AA
$13.2B
| $6.73M | 0.01% |
126,600
-24,500
| -16% | -$1M |
|
569
CALL
Boston Scientific
BSX
$71.5B
| $6.67M | 0.01% |
70,000
+45,000
| +180% | +$4.41M |
|
570
PUT
Vail Resorts
MTN
$5.3B
| $6.64M | 0.01% |
50,000
-189,000
| -79% | -$27.8M |
|
571
PUT
ON Semiconductor
ON
$31.6B
| $6.63M | 0.01% |
122,500
+20,000
| +20% | +$1.03M |
|
572
Interactive Brokers
IBKR
$39.8B
| $6.63M | 0.01% |
103,072
+3,916
| +4% | +$262K |
|
573
CALL
Snap
SNAP
$9.01B
| $6.62M | 0.01% |
820,000
-3,800
| -0.5% | -$30.1K |
|
574
CALL
Altria Group
MO
$114B
| $6.56M | 0.01% |
113,800
+103,700
| +1,027% | +$6.26M |
|
|
575
CALL
Amgen
AMGN
$222B
| $6.55M | 0.01% |
20,000
| – | – |
|
Similar funds
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.