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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 | |
|---|---|---|---|---|---|---|
776
PUT
KeyCorp
KEY
$24.4B
| $3.22M | 0.01% |
156,100
| – | – |
|
777
PUT
Phinia Inc
PHIN
$2.74B
| $3.2M | 0.01% |
+51,000
| New | +$2.82M |
|
778
Las Vegas Sands
LVS
$29.6B
| $3.18M | 0.01% |
+48,929
| New | +$3M |
|
779
PUT
Dow Inc
DOW
$21.2B
| $3.18M | 0.01% |
135,900
-1,800
| -1% | -$41.4K |
|
780
Ford
F
$55.7B
| $3.18M | 0.01% |
+242,010
| New | +$3.12M |
|
781
Cracker Barrel
CBRL
$1.29B
| $3.17M | 0.01% |
125,000
+100,000
| +400% | +$3.2M |
|
782
Pitney Bowes
PBI
$2.39B
| $3.17M | 0.01% |
300,000
| – | – |
|
783
CALL
Marriott International
MAR
$92.3B
| $3.16M | 0.01% |
+10,200
| New | +$2.91M |
|
784
Celsius Holdings
CELH
$7.03B
| $3.16M | 0.01% |
69,077
-7,437
| -10% | -$375K |
|
785
CALL
Lowe's Companies
LOW
$125B
| $3.16M | 0.01% |
13,100
-5,100
| -28% | -$1.22M |
|
786
Wynn Resorts
WYNN
$10.6B
| $3.14M | 0.01% |
26,099
-55,723
| -68% | -$6.89M |
|
787
PUT
Abbott
ABT
$187B
| $3.13M | 0.01% |
25,000
-34,000
| -58% | -$4.33M |
|
788
PUT
W.W. Grainger
GWW
$60.2B
| $3.13M | 0.01% |
+3,100
| New | +$3.01M |
|
789
CALL
Quest Diagnostics
DGX
$26.3B
| $3.12M | 0.01% |
18,000
| – | – |
|
790
CALL
Walt Disney
DIS
$181B
| $3.12M | 0.01% |
27,400
-286,000
| -91% | -$31.5M |
|
|
APLS
791
CALL
DELISTED
Apellis Pharmaceuticals
APLS
| $3.11M | 0.01% |
124,000
| – | – |
|
792
CALL
Transocean
RIG
$5.82B
| $3.1M | 0.01% |
750,600
+610,600
| +436% | +$2.37M |
|
793
American Electric Power
AEP
$68.4B
| $3.1M | 0.01% |
26,877
+3,356
| +14% | +$396K |
|
794
TeraWulf
WULF
$8.52B
| $3.1M | 0.01% |
269,651
-1,407,976
| -84% | -$18.9M |
|
795
PUT
Bilibili
BILI
$7.84B
| $3.08M | 0.01% |
125,100
| – | – |
|
|
LAFA
796
LaFayette Acquisition Corp
LAFA
| $3.07M | 0.01% |
+310,371
| New | +$3.07M |
|
797
Micron Technology
MU
$991B
| $3.05M | 0.01% |
10,695
-90,299
| -89% | -$20.7M |
|
798
CALL
ConocoPhillips
COP
$141B
| $3.05M | 0.01% |
32,600
-62,700
| -66% | -$5.67M |
|
799
Trump Media & Technology Group
DJT
$2.83B
| $3.04M | 0.01% |
+229,364
| New | +$3.13M |
|
|
EXE
800
PUT
Expand Energy Corp
EXE
$21.5B
| $3.02M | 0.01% |
27,400
-1,900
| -6% | -$211K |
|
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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.