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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
LNG icon
1726
Cheniere Energy
LNG
$54.5B
– –
-16,411
Closed -$3.45M
LULU icon
1727
lululemon athletica
LULU
$14.3B
– –
-12,929
Closed -$2.34M
LW icon
1728
PUT
Lamb Weston
LW
$7.19B
– –
-220,000
Closed -$12.8M
LYFT icon
1729
PUT
Lyft
LYFT
$6.49B
– –
-351,200
Closed -$7.73M
M icon
1730
Macy's
M
$6.63B
– –
-147,291
Closed -$3.02M
MARA icon
1731
Marathon Digital Holdings
MARA
$3.86B
– –
-583,350
Closed -$8.61M
MAS icon
1732
CALL
Masco
MAS
$15.2B
– –
-25,000
Closed -$1.76M
MBLY icon
1733
Mobileye
MBLY
$2.19B
– –
-7,212
Closed -$102K
MBLY icon
1734
PUT
Mobileye
MBLY
$2.19B
– –
-25,000
Closed -$353K
MCHP icon
1735
Microchip Technology
MCHP
$45.8B
– –
-41,167
Closed -$2.54M
MELI icon
1736
Mercado Libre
MELI
$91.7B
– –
-145
Closed -$339K
META icon
1737
Meta Platforms (Facebook)
META
$1.51T
– –
-285,409
Closed -$191M
MIR icon
1738
CALL
Mirion Technologies
MIR
$3.88B
– –
-28,600
Closed -$665K
MKC icon
1739
CALL
McCormick & Company Non-Voting
MKC
$14.2B
– –
-19,900
Closed -$1.33M
MSOS icon
1740
CALL
AdvisorShares Pure US Cannabis ETF
MSOS
$878M
– –
-290,300
Closed -$1.39M
MT icon
1741
ArcelorMittal
MT
$54.8B
– –
-6,657
Closed -$241K
MT icon
1742
PUT
ArcelorMittal
MT
$54.8B
– –
-45,000
Closed -$1.63M
MTCH icon
1743
Match Group
MTCH
$8.46B
– –
-8,692
Closed -$307K
MTDR icon
1744
PUT
Matador Resources
MTDR
$6.14B
– –
-5,500
Closed -$247K
MUR icon
1745
CALL
Murphy Oil
MUR
$4.91B
– –
-30,000
Closed -$852K
NVDA icon
1746
NVIDIA
NVDA
$5.39T
– –
-721,202
Closed -$134M
NXE icon
1747
NexGen Energy
NXE
$7.05B
– –
-48,323
Closed -$427K
OKE icon
1748
CALL
Oneok
OKE
$55.6B
– –
-6,500
Closed -$474K
OMF icon
1749
CALL
OneMain Financial
OMF
$7.42B
– –
-100
Closed -$5.65K
OWL icon
1750
Blue Owl Capital
OWL
$18.3B
– –
-132,046
Closed -$2.06M
68 69
70
71 72

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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.