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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 | |
|---|---|---|---|---|---|---|
751
CALL
Reddit
RDDT
$31.1B
| $3.45M | 0.01% |
15,000
-306,300
| -95% | -$64.4M |
|
752
CALL
DraftKings
DKNG
$11.9B
| $3.45M | 0.01% |
100,000
| – | – |
|
753
CALL
First Majestic Silver
AG
$9.07B
| $3.44M | 0.01% |
206,700
-226,800
| -52% | -$3.15M |
|
754
Procter & Gamble
PG
$339B
| $3.43M | 0.01% |
+23,939
| New | +$3.53M |
|
755
PUT
CleanSpark
CLSK
$3.16B
| $3.43M | 0.01% |
338,800
+334,400
| +7,600% | +$5.01M |
|
|
TWLVU
756
Twelve Seas Investment Company III Units
TWLVU
| $3.43M | 0.01% |
+344,433
| New | +$3.44M |
|
757
Alcoa
AA
$13.2B
| $3.43M | 0.01% |
+64,479
| New | +$2.64M |
|
758
Oneok
OKE
$54.5B
| $3.42M | 0.01% |
46,520
+18,528
| +66% | +$1.31M |
|
759
CALL
AdaptHealth
AHCO
$759M
| $3.42M | 0.01% |
343,100
| – | – |
|
760
PUT
AbbVie
ABBV
$435B
| $3.4M | 0.01% |
14,900
-1,100
| -7% | -$251K |
|
761
CALL
MetLife
MET
$62.1B
| $3.39M | 0.01% |
42,900
-219,600
| -84% | -$17.4M |
|
762
CALL
PVH
PVH
$4.04B
| $3.35M | 0.01% |
50,000
| – | – |
|
|
EVOX
763
Evolution Global Acquisition Corp
EVOX
| $3.33M | 0.01% |
+337,180
| New | +$3.33M |
|
764
DigitalOcean
DOCN
$14.6B
| $3.3M | 0.01% |
68,671
+53,508
| +353% | +$2.36M |
|
765
PUT
Marathon Petroleum
MPC
$83.7B
| $3.3M | 0.01% |
20,300
+12,600
| +164% | +$2.36M |
|
766
CALL
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$5.2B
| $3.3M | 0.01% |
105,000
| – | – |
|
767
CALL
Capital One
COF
$134B
| $3.3M | 0.01% |
13,600
-26,400
| -66% | -$5.88M |
|
|
768
First Majestic Silver
AG
$9.07B
| $3.29M | 0.01% |
+197,209
| New | +$2.74M |
|
769
PUT
Southern Company
SO
$107B
| $3.28M | 0.01% |
37,600
| – | – |
|
770
CALL
CRH
CRH
$66.8B
| $3.26M | 0.01% |
26,100
+25,100
| +2,510% | +$2.99M |
|
771
CALL
Atlassian
TEAM
$37.8B
| $3.24M | 0.01% |
20,000
-25,000
| -56% | -$3.92M |
|
772
Wayfair
W
$14.6B
| $3.24M | 0.01% |
32,291
-11,961
| -27% | -$1.15M |
|
773
Academy Sports + Outdoors
ASO
$2.98B
| $3.23M | 0.01% |
64,726
-11,110
| -15% | -$551K |
|
774
PUT
Coherent
COHR
$74.2B
| $3.23M | 0.01% |
17,500
| – | – |
|
775
WIX.com
WIX
$2.52B
| $3.23M | 0.01% |
31,090
+22,652
| +268% | +$2.74M |
|
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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.