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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
AEHR icon
1576
Aehr Test Systems
AEHR
$3.36B
– –
-10,768
Closed -$324K
AGI icon
1577
Alamos Gold
AGI
$13.9B
– –
-50,391
Closed -$1.76M
AHCO icon
1578
AdaptHealth
AHCO
$759M
– –
-33,947
Closed -$324K
AIG icon
1579
American International
AIG
$41.8B
– –
-3,311
Closed -$265K
AISP
1580
Airship AI Holdings
AISP
$71.3M
– –
-40,000
Closed -$207K
AKAM icon
1581
Akamai
AKAM
$16.1B
– –
-7,412
Closed -$562K
AKAM icon
1582
PUT
Akamai
AKAM
$16.1B
– –
-10,000
Closed -$758K
ALLY icon
1583
CALL
Ally Financial
ALLY
$13.3B
– –
-800
Closed -$31.4K
AMT icon
1584
PUT
American Tower
AMT
$80.4B
– –
-12,500
Closed -$2.4M
APD icon
1585
CALL
Air Products & Chemicals
APD
$67.6B
– –
-90,000
Closed -$24.5M
APLD icon
1586
Applied Digital
APLD
$8.41B
– –
-50,200
Closed -$1.45M
APPN icon
1587
Appian
APPN
$2.54B
– –
-12,109
Closed -$370K
APPN icon
1588
PUT
Appian
APPN
$2.54B
– –
-50,000
Closed -$1.53M
APTV icon
1589
CALL
Aptiv
APTV
$10.3B
– –
-5,000
Closed -$431K
APTV icon
1590
PUT
Aptiv
APTV
$10.3B
– –
-5,000
Closed -$431K
ARGX icon
1591
CALL
argenx
ARGX
$54.1B
– –
-3,200
Closed -$2.36M
ARKK icon
1592
ARK Innovation ETF
ARKK
$6.31B
– –
-817
Closed -$67.7K
ARRY icon
1593
CALL
Array Technologies
ARRY
$855M
– –
-1,060,000
Closed -$8.64M
FRMM
1594
Forum Markets
FRMM
$79.5M
– –
-3,000
Closed -$42.3K
AZO icon
1595
CALL
AutoZone
AZO
$51.1B
– –
-100
Closed -$429K
AZO icon
1596
AutoZone
AZO
$51.1B
– –
-152
Closed -$652K
BA icon
1597
Boeing
BA
$185B
– –
-162,747
Closed -$33.5M
BAERW icon
1598
Bridger Aerospace Warrant
BAERW
$8.48M
– –
-100,000
Closed -$7.7K
BAH icon
1599
CALL
Booz Allen Hamilton
BAH
$9.15B
– –
-17,500
Closed -$1.75M
BAX icon
1600
CALL
Baxter International
BAX
$14.2B
– –
-400
Closed -$9.11K
62 63
64
65 66

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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.