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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
CGC
1626
Canopy Growth
CGC
$411M
– –
-10,765
Closed -$15.7K
CIFR icon
1627
Cipher Digital
CIFR
$7.13B
– –
-503,270
Closed -$8.88M
CIVI
1628
DELISTED
Civitas Resources
CIVI
– –
-5,587
Closed -$162K
CL icon
1629
CALL
Colgate-Palmolive
CL
$74.4B
– –
-27,000
Closed -$2.16M
CMA
1630
CALL
DELISTED
Comerica
CMA
– –
-108,800
Closed -$7.45M
CMC icon
1631
CALL
Commercial Metals
CMC
$8.31B
– –
-9,000
Closed -$516K
CMCSA icon
1632
CALL
Comcast
CMCSA
$90B
– –
-5,000
Closed -$157K
CMCSA icon
1633
Comcast
CMCSA
$90B
– –
-9,133
Closed -$287K
CME icon
1634
CALL
CME Group
CME
$94.8B
– –
-75,000
Closed -$20.3M
CNP icon
1635
CALL
CenterPoint Energy
CNP
$26.8B
– –
-50,000
Closed -$1.94M
CNP icon
1636
PUT
CenterPoint Energy
CNP
$26.8B
– –
-89,100
Closed -$3.46M
CNX icon
1637
CNX Resources
CNX
$5.2B
– –
-34,678
Closed -$1.24M
COHR icon
1638
CALL
Coherent
COHR
$74.2B
– –
-21,500
Closed -$2.32M
CPB icon
1639
PUT
Campbell Soup
CPB
$6.87B
– –
-16,700
Closed -$527K
CRK icon
1640
Comstock Resources
CRK
$3.94B
– –
-25,058
Closed -$552K
CRSP icon
1641
CRISPR Therapeutics
CRSP
$5.17B
– –
-635
Closed -$41.2K
CRSP icon
1642
PUT
CRISPR Therapeutics
CRSP
$5.17B
– –
-25,000
Closed -$1.62M
CSGP icon
1643
CALL
CoStar Group
CSGP
$12.3B
– –
-105,000
Closed -$8.86M
CYBR
1644
DELISTED
CyberArk
CYBR
– –
-125
Closed -$60.4K
CYBR
1645
PUT
DELISTED
CyberArk
CYBR
– –
-5,500
Closed -$2.66M
D icon
1646
CALL
Dominion Energy
D
$59.3B
– –
-15,000
Closed -$918K
DB icon
1647
PUT
Deutsche Bank
DB
$71.5B
– –
-40,000
Closed -$1.42M
DD icon
1648
DuPont de Nemours
DD
$19.2B
– –
-10,119
Closed -$989K
DELL icon
1649
Dell
DELL
$293B
– –
-61,566
Closed -$8.67M
DK icon
1650
PUT
Delek US
DK
$3.58B
– –
-22,500
Closed -$726K
64 65
66
67 68

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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.