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Parallax Volatility Advisers

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
Cap. Flow
-$16B
Cap. Flow %
-31.47%
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329

Top Buys

Rank Stock Value
1
AXP icon
American Express
AXP
+$263M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$154M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$90.9M
4
BABA icon
Alibaba
BABA
+$47.6M
5
AVGO icon
Broadcom
AVGO
+$36.4M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$191M
2
NVDA icon
NVIDIA
NVDA
+$134M
3
GLD icon
SPDR Gold Trust
GLD
+$80.5M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$65.2M
5
GOOGL icon
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
IBB icon
876
iShares Biotechnology ETF
IBB
$9.77B
$2.28M ﹤0.01%
+13,526
New +$2.2M
FLR icon
877
PUT
Fluor
FLR
$7.96B
$2.28M ﹤0.01%
+57,500
New +$2.54M
PBI icon
878
PUT
Pitney Bowes
PBI
$2.39B
$2.27M ﹤0.01%
215,000
+15,000
+8% +$156K
CFLT
879
CALL
DELISTED
Confluent
CFLT
$2.27M ﹤0.01%
75,000
– –
LNC icon
880
Lincoln National
LNC
$8.81B
$2.26M ﹤0.01%
50,749
+15,977
+46% +$665K
S icon
881
CALL
SentinelOne
S
$7.34B
$2.25M ﹤0.01%
+150,000
New +$2.46M
ARKK icon
882
PUT
ARK Innovation ETF
ARKK
$6.31B
$2.25M ﹤0.01%
29,200
-77,400
-73% -$6.41M
SOUN icon
883
PUT
SoundHound AI
SOUN
$3.49B
$2.24M ﹤0.01%
225,000
+100,000
+80% +$1.44M
FE icon
884
CALL
FirstEnergy
FE
$27.5B
$2.24M ﹤0.01%
+50,000
New +$2.3M
ISRG icon
885
Intuitive Surgical
ISRG
$134B
$2.24M ﹤0.01%
3,952
+3,950
+197,500% +$2.1M
NTNX icon
886
CALL
Nutanix
NTNX
$16.9B
$2.23M ﹤0.01%
43,200
-1,000
-2% -$61.1K
DQ
887
PUT
Daqo New Energy
DQ
$996M
$2.21M ﹤0.01%
75,000
-10,000
-12% -$305K
CAR icon
888
Avis
CAR
$5.02B
$2.2M ﹤0.01%
+17,153
New +$2.39M
TIGR
889
UP Fintech Holding
TIGR
$861M
$2.2M ﹤0.01%
230,216
-82,841
-26% -$791K
TTD icon
890
PUT
Trade Desk
TTD
$6.49B
$2.19M ﹤0.01%
57,800
-494,300
-90% -$21.9M
STZ icon
891
PUT
Constellation Brands
STZ
$23.2B
$2.19M ﹤0.01%
15,900
-147,500
-90% -$20.2M
OKTA icon
892
CALL
Okta
OKTA
$25.8B
$2.19M ﹤0.01%
25,300
-800
-3% -$69.8K
BGS icon
893
PUT
B&G Foods
BGS
$286M
$2.17M ﹤0.01%
505,000
– –
HSBC icon
894
CALL
HSBC
HSBC
$356B
$2.16M ﹤0.01%
+27,500
New +$1.97M
BEKE icon
895
CALL
KE Holdings
BEKE
$18.8B
$2.16M ﹤0.01%
137,000
– –
XOP icon
896
CALL
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.51B
$2.16M ﹤0.01%
17,100
-111,900
-87% -$14.5M
APP icon
897
PUT
Applovin
APP
$116B
$2.16M ﹤0.01%
3,200
+2,100
+191% +$1.32M
DHR icon
898
Danaher
DHR
$144B
$2.15M ﹤0.01%
+9,383
New +$2.06M
AHCO icon
899
PUT
AdaptHealth
AHCO
$759M
$2.15M ﹤0.01%
215,500
– –
PLUG icon
900
PUT
Plug Power
PLUG
$3.04B
$2.14M ﹤0.01%
1,085,100
-634,900
-37% -$1.66M
34 35
36
37 38

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HF
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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.