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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
HON icon
1551
Honeywell
HON
$78B
$390 ﹤0.01%
2
-13,354
-100% -$2.61M
CSX icon
1552
CSX Corp
CSX
$93.1B
$290 ﹤0.01%
8
– –
WBD icon
1553
Warner Bros
WBD
$67.1B
$288 ﹤0.01%
10
– –
ABNB icon
1554
Airbnb
ABNB
$106B
$271 ﹤0.01%
2
-106,524
-100% -$13.3M
DNN icon
1555
PUT
Denison Mines
DNN
$2.91B
$266 ﹤0.01%
+100
New +$272
XLY icon
1556
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.2B
$239 ﹤0.01%
2
– –
PYPL icon
1557
PayPal
PYPL
$50.5B
$234 ﹤0.01%
4
-182,759
-100% -$11.9M
CSGP icon
1558
CoStar Group
CSGP
$12.3B
$134 ﹤0.01%
2
– –
EMR icon
1559
Emerson Electric
EMR
$88.3B
$133 ﹤0.01%
+1
New +$133
XBI icon
1560
State Street SPDR S&P Biotech ETF
XBI
$10.3B
$122 ﹤0.01%
1
-194,819
-100% -$22.3M
NFE icon
1561
PUT
New Fortress Energy
NFE
$101M
$114 ﹤0.01%
+100
New +$147
XME icon
1562
State Street SPDR S&P Metals & Mining ETF
XME
$4.42B
$104 ﹤0.01%
1
– –
XHB icon
1563
State Street SPDR S&P Homebuilders ETF
XHB
$1.56B
$103 ﹤0.01%
+1
New +$106
IYR icon
1564
iShares US Real Estate ETF
IYR
$4.65B
$94 ﹤0.01%
1
– –
KRE icon
1565
State Street SPDR S&P Regional Banking ETF
KRE
$4.64B
$65 ﹤0.01%
1
– –
URNM icon
1566
Sprott Uranium Miners ETF
URNM
$1.98B
$55 ﹤0.01%
+1
New +$58
XLF icon
1567
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
$55 ﹤0.01%
1
– –
URA icon
1568
Global X Uranium ETF
URA
$6.22B
$43 ﹤0.01%
1
– –
BKLN icon
1569
Invesco Senior Loan ETF
BKLN
$6.81B
$21 ﹤0.01%
1
– –
ICLN icon
1570
iShares Global Clean Energy ETF
ICLN
$2.4B
$16 ﹤0.01%
+1
New +$17
AAPL icon
1571
Apple
AAPL
$4.57T
– –
-125,539
Closed -$33.7M
ABT icon
1572
CALL
Abbott
ABT
$187B
– –
-700
Closed -$93.8K
ADBE icon
1573
Adobe
ADBE
$105B
– –
-29,940
Closed -$10.2M
ADSK icon
1574
CALL
Autodesk
ADSK
$52.6B
– –
-3,200
Closed -$1.02M
ADSK icon
1575
PUT
Autodesk
ADSK
$52.6B
– –
-38,900
Closed -$12.4M
61 62
63
64 65

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Nomura Asset Management
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Credit Agricole
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Carson Wealth (CWM LLC)
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Fayez Sarofim & Co
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Grantham, Mayo, Van Otterloo & Co (GMO)
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Nomura Holdings
Nomura Holdings Tokyo, Japan $37.7B AUM 34.44% 1-Year Est. Return
HF
HRT Financial New York $40.1B AUM 58.22% 1-Year Est. Return

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.