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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
PWR icon
901
CALL
Quanta Services
PWR
$101B
$2.11M ﹤0.01%
+5,000
New +$2.2M
BEKE icon
902
PUT
KE Holdings
BEKE
$18.8B
$2.1M ﹤0.01%
133,300
– –
ENPH icon
903
CALL
Enphase Energy
ENPH
$5.53B
$2.1M ﹤0.01%
65,500
+40,600
+163% +$1.32M
LW icon
904
CALL
Lamb Weston
LW
$7.19B
$2.09M ﹤0.01%
+50,000
New +$2.94M
RIO icon
905
PUT
Rio Tinto
RIO
$164B
$2.09M ﹤0.01%
26,100
+25,100
+2,510% +$1.81M
JEF icon
906
CALL
Jefferies Financial Group
JEF
$13.1B
$2.09M ﹤0.01%
33,700
– –
BEKE icon
907
KE Holdings
BEKE
$18.8B
$2.09M ﹤0.01%
132,340
+18,370
+16% +$316K
UEC icon
908
CALL
Uranium Energy
UEC
$5.57B
$2.07M ﹤0.01%
176,800
+48,000
+37% +$630K
BMNR
909
CALL
BitMine Immersion Technologies
BMNR
$11.4B
$2.06M ﹤0.01%
76,000
-105,100
-58% -$4.26M
XLI icon
910
CALL
State Street Industrial Select Sector SPDR ETF
XLI
$33.7B
$2.05M ﹤0.01%
13,200
+11,900
+915% +$1.83M
EA
911
CALL
DELISTED
Electronic Arts
EA
$2.04M ﹤0.01%
10,000
– –
BZ icon
912
CALL
Kanzhun
BZ
$7.36B
$2.04M ﹤0.01%
100,000
– –
XPEV icon
913
PUT
XPeng
XPEV
$11.6B
$2.03M ﹤0.01%
+100,000
New +$2.17M
PCAR icon
914
PUT
PACCAR
PCAR
$70.1B
$2.03M ﹤0.01%
+18,500
New +$1.9M
ARKG icon
915
PUT
ARK Genomic Revolution ETF
ARKG
$1.73B
$2.01M ﹤0.01%
69,300
+54,300
+362% +$1.63M
B
916
Barrick Mining
B
$73.2B
$2M ﹤0.01%
45,897
-24,721
-35% -$927K
SMR icon
917
CALL
NuScale Power
SMR
$4.03B
$1.99M ﹤0.01%
140,100
+50,000
+55% +$1.43M
AFRM icon
918
Affirm
AFRM
$25.2B
$1.98M ﹤0.01%
26,571
-62,712
-70% -$4.51M
AIIA
919
AI Infrastructure Acquisition Corp
AIIA
$198M
$1.98M ﹤0.01%
+198,799
New +$1.97M
HUBS icon
920
HubSpot
HUBS
$10.5B
$1.97M ﹤0.01%
+4,907
New +$2.03M
SBET icon
921
PUT
Sharplink Inc
SBET
$1.35B
$1.97M ﹤0.01%
220,000
-175,100
-44% -$2.14M
RUN icon
922
PUT
Sunrun
RUN
$2.46B
$1.96M ﹤0.01%
106,500
-79,900
-43% -$1.53M
MDT icon
923
Medtronic
MDT
$112B
$1.96M ﹤0.01%
20,387
+5,652
+38% +$549K
XP icon
924
CALL
XP
XP
$8.39B
$1.96M ﹤0.01%
+119,600
New +$2.11M
LYFT icon
925
Lyft
LYFT
$6.63B
$1.96M ﹤0.01%
101,056
-295,106
-74% -$6.13M
35 36
37
38 39

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Carson Wealth (CWM LLC)
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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.