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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 | |
|---|---|---|---|---|---|---|
|
AXINR
1526
Axiom Intelligence Acquisition Corp 1 Right
AXINR
| $8.53K | ﹤0.01% |
40,600
-122,144
| -75% | -$27.2K |
|
1527
CALL
Cognizant
CTSH
$26B
| $8.3K | ﹤0.01% |
+100
| New | +$7.48K |
|
1528
Beyond Meat
BYND
$277M
| $7.86K | ﹤0.01% |
+9,589
| New | +$13.3K |
|
|
BDCIW
1529
BTC Development Corp Warrant
BDCIW
| $7.7K | ﹤0.01% |
+13,394
| New | +$10.1K |
|
|
ALCYW
1530
DELISTED
Alchemy Investments Acquisition Corp 1 Warrants
ALCYW
| $7.35K | ﹤0.01% |
35,000
| – | – |
|
1531
Corteva
CTVA
$51.3B
| $7.17K | ﹤0.01% |
+107
| New | +$6.92K |
|
|
GPATW
1532
GP-Act III Acquisition Corp Warrants
GPATW
| $6.78K | ﹤0.01% |
+25,159
| New | +$8.06K |
|
1533
CALL
FIVE9
FIVN
$2.54B
| $6.01K | ﹤0.01% |
+300
| New | +$6.37K |
|
|
BLUWW
1534
Blue Water Acquisition Corp III Warrant
BLUWW
| $5.3K | ﹤0.01% |
+10,000
| New | +$3.46K |
|
1535
3M
MMM
$94.3B
| $4.96K | ﹤0.01% |
31
-528
| -94% | -$86.3K |
|
1536
PUT
Baker Hughes
BKR
$61.1B
| $4.55K | ﹤0.01% |
+100
| New | +$4.74K |
|
1537
Amazon
AMZN
$2.96T
| $3.69K | ﹤0.01% |
16
-200,466
| -100% | -$45.9M |
|
1538
PUT
Toast
TOST
$19.9B
| $3.55K | ﹤0.01% |
100
-2,500
| -96% | -$90.1K |
|
1539
PUT
Range Resources
RRC
$8.95B
| $3.53K | ﹤0.01% |
100
-50,000
| -100% | -$1.86M |
|
1540
CALL
Huntington Bancshares
HBAN
$35.5B
| $3.47K | ﹤0.01% |
200
-44,700
| -100% | -$734K |
|
1541
LiveWire Group Warrants
LVWR.WS
$5.09M
| $2.58K | ﹤0.01% |
41,241
-31,202
| -43% | -$2.77K |
|
1542
CALL
Herbalife
HLF
$1.29B
| $2.58K | ﹤0.01% |
+200
| New | +$2.12K |
|
|
FLDDW
1543
Fold Holdings Warrant
FLDDW
$1.12M
| $2.41K | ﹤0.01% |
15,835
-20,491
| -56% | -$6.83K |
|
1544
Verizon
VZ
$196B
| $2.08K | ﹤0.01% |
+51
| New | +$2.07K |
|
1545
Sarepta Therapeutics
SRPT
$1.77B
| $1.83K | ﹤0.01% |
85
| – | – |
|
1546
Costco
COST
$420B
| $1.73K | ﹤0.01% |
2
-2,089
| -100% | -$1.89M |
|
|
MRNOW
1547
Murano Global Investments PLC Warrants
MRNOW
$127K
| $1.38K | ﹤0.01% |
52,510
-17,490
| -25% | -$1.19K |
|
1548
Applovin
APP
$116B
| $1.35K | ﹤0.01% |
2
| – | – |
|
1549
Amgen
AMGN
$222B
| $655 | ﹤0.01% |
2
-7,512
| -100% | -$2.38M |
|
|
CRON
1550
CALL
Cronos Group
CRON
$1.14B
| $526 | ﹤0.01% |
200
| – | – |
|
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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.