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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
DKS icon
1651
Dick's Sporting Goods
DKS
$18.7B
– –
-6,210
Closed -$1.35M
DOCN icon
1652
CALL
DigitalOcean
DOCN
$14.6B
– –
-58,100
Closed -$1.98M
DOCS icon
1653
CALL
Doximity
DOCS
$4.99B
– –
-35,000
Closed -$2.56M
DQ
1654
CALL
Daqo New Energy
DQ
$998M
– –
-80,000
Closed -$2.25M
DT icon
1655
Dynatrace
DT
$14.1B
– –
-14,236
Closed -$690K
DVN icon
1656
Devon Energy
DVN
$47.3B
– –
-6,820
Closed -$238K
EBAY icon
1657
CALL
eBay
EBAY
$49.7B
– –
-44,900
Closed -$4.08M
EDU icon
1658
CALL
New Oriental
EDU
$8.98B
– –
-5,200
Closed -$276K
EFA icon
1659
iShares MSCI EAFE ETF
EFA
$80.2B
– –
-83,322
Closed -$7.9M
EFX icon
1660
Equifax
EFX
$21.4B
– –
-8,031
Closed -$2.06M
EFX icon
1661
PUT
Equifax
EFX
$21.4B
– –
-22,400
Closed -$5.75M
EL icon
1662
CALL
Estee Lauder
EL
$32B
– –
-115,000
Closed -$10.1M
EMB icon
1663
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
– –
-32,550
Closed -$3.1M
EMB icon
1664
PUT
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
– –
-200,000
Closed -$19M
EMR icon
1665
CALL
Emerson Electric
EMR
$88.3B
– –
-16,500
Closed -$2.16M
ENTG icon
1666
CALL
Entegris
ENTG
$23.2B
– –
-27,100
Closed -$2.51M
EOSE icon
1667
Eos Energy Enterprises
EOSE
$1.52B
– –
-2
Closed -$29
EOSE icon
1668
PUT
Eos Energy Enterprises
EOSE
$1.52B
– –
-57,500
Closed -$655K
EQNR icon
1669
CALL
Equinor
EQNR
$92.5B
– –
-61,000
Closed -$1.49M
EQNR icon
1670
Equinor
EQNR
$92.5B
– –
-7,934
Closed -$193K
EQNR icon
1671
PUT
Equinor
EQNR
$92.5B
– –
-110,000
Closed -$2.68M
EW icon
1672
PUT
Edwards Lifesciences
EW
$51.7B
– –
-2,000
Closed -$156K
EWC icon
1673
iShares MSCI Canada ETF
EWC
$6.32B
– –
-3,630
Closed -$188K
EWJ icon
1674
iShares MSCI Japan ETF
EWJ
$22.9B
– –
-8,156
Closed -$654K
EWJ icon
1675
PUT
iShares MSCI Japan ETF
EWJ
$22.9B
– –
-42,000
Closed -$3.37M
65 66
67
68 69

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Credit Agricole
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Carson Wealth (CWM LLC)
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Grantham, Mayo, Van Otterloo & Co (GMO)
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Nomura Holdings
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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.