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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
XP icon
1176
XP
XP
$8.39B
$559K ﹤0.01%
+34,126
New +$601K
SWK icon
1177
PUT
Stanley Black & Decker
SWK
$15.7B
$557K ﹤0.01%
7,500
– –
ELV icon
1178
Elevance Health
ELV
$85.5B
$552K ﹤0.01%
+1,576
New +$533K
ASHR icon
1179
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.6B
$551K ﹤0.01%
16,759
+1,511
+10% +$49.6K
ADM icon
1180
PUT
Archer Daniels Midland
ADM
$36.9B
$546K ﹤0.01%
+9,500
New +$568K
RITM icon
1181
Rithm Capital
RITM
$5.69B
$545K ﹤0.01%
50,000
– –
CIVI
1182
CALL
DELISTED
Civitas Resources
CIVI
$542K ﹤0.01%
20,000
-17,500
-47% -$506K
XLI icon
1183
State Street Industrial Select Sector SPDR ETF
XLI
$33.7B
$540K ﹤0.01%
3,482
-18,994
-85% -$2.92M
CRGY icon
1184
CALL
Crescent Energy
CRGY
$3.82B
$535K ﹤0.01%
+63,800
New +$560K
CTRI icon
1185
CALL
Centuri Holdings
CTRI
$2.41B
$533K ﹤0.01%
+21,100
New +$472K
URNM icon
1186
CALL
Sprott Uranium Miners ETF
URNM
$1.98B
$521K ﹤0.01%
+9,500
New +$549K
UGA icon
1187
United States Gasoline Fund
UGA
$123M
$519K ﹤0.01%
8,411
– –
SRPT icon
1188
CALL
Sarepta Therapeutics
SRPT
$1.77B
$512K ﹤0.01%
23,800
– –
CHPG
1189
ChampionsGate Acquisition Corp
CHPG
$509K ﹤0.01%
+49,967
New +$507K
KCHV
1190
Kochav Defense Acquisition Corp
KCHV
$507K ﹤0.01%
50,000
-534,879
-91% -$5.41M
RUM icon
1191
PUT
RUM Group Inc
RUM
$1.76B
$506K ﹤0.01%
80,000
– –
TSCO icon
1192
Tractor Supply
TSCO
$18B
$506K ﹤0.01%
+10,109
New +$544K
TER icon
1193
PUT
Teradyne
TER
$59.3B
$503K ﹤0.01%
2,600
-25,800
-91% -$4.43M
CVS icon
1194
CVS Health
CVS
$122B
$501K ﹤0.01%
6,309
-205,223
-97% -$16.2M
PENN icon
1195
CALL
PENN Entertainment
PENN
$2.71B
$499K ﹤0.01%
33,800
– –
HCI icon
1196
HCI Group
HCI
$2.41B
$498K ﹤0.01%
+2,599
New +$490K
INACU
1197
Indigo Acquisition Corp Unit
INACU
$498K ﹤0.01%
48,823
-4,782
-9% -$48.7K
BEBE.U
1198
TGE Value Creative Solutions Corp Units
BEBE.U
$497K ﹤0.01%
+50,000
New +$497K
CLMT icon
1199
Calumet Specialty Products
CLMT
$3.44B
$497K ﹤0.01%
+25,000
New +$481K
LPCVU
1200
Launchpad Cadenza Acquisition Corp I Unit
LPCVU
$494K ﹤0.01%
+49,496
New +$495K
46 47
48
49 50

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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.