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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
WTI icon
1401
W&T Offshore
WTI
$518M
$109K ﹤0.01%
+66,739
New +$128K
AEO icon
1402
CALL
American Eagle Outfitters
AEO
$3.01B
$108K ﹤0.01%
+4,100
New +$81K
BLK icon
1403
CALL
Blackrock
BLK
$176B
$107K ﹤0.01%
100
-100
-50% -$109K
DDD icon
1404
PUT
3D Systems Corp
DDD
$613M
$107K ﹤0.01%
60,300
+27,700
+85% +$67.4K
GSRFR
1405
GSR IV Acquisition Corp Rights
GSRFR
$105K ﹤0.01%
+42,929
New +$106K
KRSP.U
1406
Rice Acquisition Corp 3 Units
KRSP.U
$105K ﹤0.01%
+10,000
New +$107K
XRPNW
1407
Armada Acquisition Corp II Warrant
XRPNW
$8.39M
$103K ﹤0.01%
116,060
+35,829
+45% +$34K
OTGAW
1408
OTG Acquisition Corp I Warrants
OTGAW
$102K ﹤0.01%
+317,408
New +$106K
SOC icon
1409
Sable Offshore Corp
SOC
$911M
$99K ﹤0.01%
10,975
-123,870
-92% -$1.17M
KOYNW
1410
CSLM Digital Asset Acquisition Corp III Warrants
KOYNW
$97.3K ﹤0.01%
278,058
+113,257
+69% +$52.3K
ADP icon
1411
Automatic Data Processing
ADP
$108B
$96.2K ﹤0.01%
374
-2,428
-87% -$646K
PAYC icon
1412
CALL
Paycom
PAYC
$10B
$95.6K ﹤0.01%
600
– –
URNM icon
1413
PUT
Sprott Uranium Miners ETF
URNM
$1.98B
$93.3K ﹤0.01%
+1,700
New +$98.3K
MNST icon
1414
PUT
Monster Beverage
MNST
$88.4B
$92K ﹤0.01%
+1,200
New +$86K
BACCR
1415
Blue Acquisition Corp Right
BACCR
$89.4K ﹤0.01%
275,982
-82,176
-23% -$21.9K
ORBS
1416
Eightco Holdings
ORBS
$267M
$87.7K ﹤0.01%
+50,721
New +$238K
ENB icon
1417
PUT
Enbridge
ENB
$112B
$86.1K ﹤0.01%
+1,800
New +$85.9K
CSIQ icon
1418
Canadian Solar
CSIQ
$1.08B
$85.4K ﹤0.01%
+3,591
New +$78.3K
MBVIW
1419
M3-Brigade Acquisition VI Corp Warrant
MBVIW
$85.3K ﹤0.01%
+230,555
New +$119K
CDNS icon
1420
Cadence Design Systems
CDNS
$93.4B
$81K ﹤0.01%
259
-1,053
-80% -$344K
TH icon
1421
CALL
Target Hospitality
TH
$1.64B
$80.1K ﹤0.01%
10,000
– –
STLA icon
1422
PUT
Stellantis
STLA
$20.8B
$76.2K ﹤0.01%
+7,000
New +$75.3K
TAVIR
1423
Tavia Acquisition Corp Right
TAVIR
$72.6K ﹤0.01%
315,694
+240,694
+321% +$56.4K
ROST icon
1424
PUT
Ross Stores
ROST
$81.9B
$72.1K ﹤0.01%
+400
New +$66.7K
FIG
1425
CALL
Figma
FIG
$12.4B
$71K ﹤0.01%
+1,900
New +$85.9K
55 56
57
58 59

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Credit Agricole
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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.