— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Parallax Volatility Advisers, L.P.

Q4 2025 · Filed 2026-02-17
Market Value
$2.8B
-4.4%
Holdings
603
+49
New Purchases
158
Added To
137
Closed
136
Reduced
150
Top 10 Concentration
40.0%
Turnover
48.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AXP 9.64% 0.00% +9.64% $272M
IWM 5.47% 0.00% +5.47% $154M
SPY 3.25% 0.00% +3.25% $92M
MS 2.37% 0.89% +1.48% $67M
BABA 1.76% 0.28% +1.48% $50M
TSLA 5.13% 3.73% +1.40% $145M
AVGO 2.11% 0.78% +1.33% $59M
CMG 1.05% 0.00% +1.05% $30M
GE 2.97% 2.11% +0.86% $84M
PDD 0.76% 0.00% +0.76% $21M
WFC 1.83% 1.10% +0.73% $52M
IBM 0.66% 0.03% +0.63% $19M
VST 0.69% 0.07% +0.62% $19M
CAT 0.59% 0.00% +0.59% $17M
HYG 0.58% 0.00% +0.58% $16M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 0.00% 7.11% -7.11% $0
NVDA 0.00% 4.57% -4.57% $0
QQQ 0.00% 2.17% -2.17% $0
GLD 4.75% 6.61% -1.87% $134M
AMZN 0.00% 1.49% -1.49% $4K
GOOGL 0.00% 1.44% -1.44% $0
PLTR 2.53% 3.83% -1.30% $71M
NFLX 0.60% 1.81% -1.21% $17M
BA 0.00% 1.19% -1.19% $0
GS 0.01% 1.16% -1.14% $418K
AAPL 0.00% 1.08% -1.08% $0
NET 1.77% 2.68% -0.92% $50M
CI 0.06% 0.86% -0.80% $2M
BAC 0.45% 1.18% -0.73% $13M
XBI 0.00% 0.66% -0.66% $122

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 56 $1.3B 44.8%
Large Cap 300 $1.3B 46.5%
Mid Cap 121 $165M 5.8%
Small Cap 80 $56M 2.0%
Micro Cap 46 $24M 0.9%

Portfolio Analytics

Avg Market Cap
$106.8B
Median Market Cap
$18.8B
Avg P/E
36.6
Median P/E
24.3
Avg Dividend Yield
0.01%
Avg Beta
1.18
# Stocks
541
# ETFs / Funds
62

Top Holdings (603 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AXP 9.64% 733,883 $272M $369.95 +733,883 NEW
2 IWM 5.47% 625,766 $154M $246.16 +625,766 NEW
3 TSLA 5.13% 321,611 $145M $449.72 $35M +74,424 +30.1%
4 GLD 4.75% 337,377 $134M $396.31 -$61M -210,700 -38.4%
5 SPY 3.25% 134,473 $92M $681.92 +134,473 NEW
6 GE 2.97% 271,716 $84M $308.03 $22M +65,034 +31.5%
7 PLTR 2.53% 401,108 $71M $177.75 -$41M -216,916 -35.1%
8 MS 2.37% 376,397 $67M $177.53 $41M +211,536 +128.3%
9 AVGO 2.11% 171,818 $59M $346.10 $36M +101,886 +145.7%
10 WFC 1.83% 553,377 $52M $93.20 $19M +166,949 +43.2%
11 NET 1.77% 252,397 $50M $197.15 -$29M -115,983 -31.5%
12 BABA 1.76% 337,770 $50M $146.58 $41M +291,985 +637.7%
13 CRWD 1.64% 98,359 $46M $468.76 $168K +4,679 +5.0%
14 GEV 1.63% 70,328 $46M $653.57 -$1M -6,709 -8.7%
15 C 1.31% 315,393 $37M $116.69 -$2M -71,213 -18.4%
16 CMG 1.05% 801,739 $30M $37.00 +801,739 NEW
17 DDOG 1.04% 215,814 $29M $135.99 $14M +105,389 +95.4%
18 ORCL 0.87% 125,989 $25M $194.91 -$4M +23,144 +22.5%
19 TSM 0.83% 77,052 $23M $303.89 -$10M -44,106 -36.4%
20 SNOW 0.82% 105,773 $23M $219.36 -$8M -33,186 -23.9%
21 ARM 0.82% 210,570 $23M $109.31 $6M +88,626 +72.7%
22 PDD 0.76% 187,904 $21M $113.39 +187,904 NEW
23 TWLO 0.71% 140,919 $20M $142.24 $4M -14,630 -9.4%
24 SHOP 0.69% 120,421 $19M $160.97 $2M +2,502 +2.1%
25 VST 0.69% 120,021 $19M $161.33 $17M +110,015 +1099.5%
26 IBM 0.66% 63,088 $19M $296.21 $18M +59,642 +1730.8%
27 NFLX 0.60% 180,574 $17M $93.76 -$37M +135,985 +305.0%
28 WDC 0.59% 97,217 $17M $172.27 $12M +60,186 +162.5%
29 CAT 0.59% 29,177 $17M $572.87 +29,177 NEW
30 JPM 0.59% 51,775 $17M $322.22 -$5M -15,622 -23.2%
31 COF 0.59% 68,020 $16M $242.36 $16M +65,885 +3085.9%
32 HYG 0.58% 204,395 $16M $80.63 +204,395 NEW
33 DAL 0.57% 231,783 $16M $69.40 -$8M -187,129 -44.7%
34 SCHW 0.57% 160,692 $16M $99.91 $2M +11,344 +7.6%
35 XLE 0.54% 342,489 $15M $44.71 $15M +342,488 +34248800.0%
36 NEE 0.51% 177,663 $14M $80.28 $12M +142,441 +404.4%
37 GM 0.50% 174,557 $14M $81.32 -$7M -171,246 -49.5%
38 FXI 0.50% 366,168 $14M $38.29 $6M +164,906 +81.9%
39 AAL 0.49% 902,114 $14M $15.33 -$5M -769,719 -46.0%
40 UBER 0.48% 165,504 $14M $81.71 +165,504 NEW
41 NEM 0.48% 135,291 $14M $99.85 +135,291 NEW
42 ETHA 0.48% 599,615 $13M $22.43 +599,615 NEW
43 PANW 0.48% 72,963 $13M $184.20 $12M +67,655 +1274.6%
44 VRT 0.48% 82,850 $13M $162.01 +82,850 NEW
45 CSCO 0.47% 171,162 $13M $77.03 +171,162 NEW
46 STT 0.46% 99,859 $13M $129.01 $10M +72,359 +263.1%
47 BAC 0.45% 232,225 $13M $55.00 -$22M -443,147 -65.6%
48 HOOD 0.45% 112,398 $13M $113.10 $3M +42,667 +61.2%
49 WMT 0.43% 109,821 $12M $111.41 $6M +51,439 +88.1%
50 JBL 0.42% 52,186 $12M $228.02 $1M +4,105 +8.5%
51 MDB 0.41% 27,850 $12M $419.69 -$2M -15,175 -35.3%
52 CEG 0.41% 32,476 $11M $353.27 $3M +6,901 +27.0%
53 TFC 0.41% 232,705 $11M $49.21 $11M +222,107 +2095.7%
54 NRG 0.40% 70,273 $11M $159.24 $1M +8,940 +14.6%
55 GLW 0.38% 122,589 $11M $87.56 $1M +8,291 +7.2%
56 UAL 0.38% 95,292 $11M $111.82 -$8M -101,067 -51.5%
57 JNJ 0.37% 49,958 $10M $206.95 +49,958 NEW
58 LUV 0.36% 246,168 $10M $41.33 $7M +159,953 +185.5%
59 EXE 0.35% 88,095 $10M $110.36 $8M +69,349 +369.9%
60 TLT 0.34% 110,931 $10M $87.16 -$14M -151,300 -57.7%
61 XLU 0.34% 223,683 $10M $42.69 $10M +223,682 +22368200.0%
62 CRWV 0.33% 131,308 $9M $71.61 $5M +101,308 +337.7%
63 AMD 0.33% 42,801 $9M $214.16 -$8M -62,433 -59.3%
64 RBLX 0.32% 112,896 $9M $81.03 $394K +49,700 +78.6%
65 ROKU 0.32% 83,653 $9M $108.49 -$4M -45,422 -35.2%
66 PEP 0.32% 62,421 $9M $143.52 $2M +14,286 +29.7%
67 SNDK 0.32% 37,670 $9M $237.38 $8M +30,762 +445.3%
68 TJX 0.31% 57,699 $9M $153.61 $132K -2,707 -4.5%
69 DASH 0.28% 35,453 $8M $226.48 -$2M +183 +0.5%
70 CVX 0.28% 51,622 $8M $152.41 $5M +33,136 +179.2%
71 BSX 0.28% 82,132 $8M $95.35 $2M +26,967 +48.9%
72 NKE 0.27% 120,925 $8M $63.71 -$14M -183,500 -60.3%
73 STX 0.27% 27,658 $8M $275.39 -$7M -34,334 -55.4%
74 HD 0.26% 21,458 $7M $344.10 $3M +11,239 +110.0%
75 CORZ 0.26% 506,803 $7M $14.56 +506,803 NEW
76 SMCI 0.26% 250,000 $7M $29.27 -$5M -13,208 -5.0%
77 LLY 0.26% 6,705 $7M $1,074.68 +6,705 NEW
78 BLK 0.25% 6,652 $7M $1,070.34 -$2M -784 -10.5%
79 SBUX 0.25% 84,519 $7M $84.21 -$267K -2,769 -3.2%
80 ICE 0.25% 43,471 $7M $161.96 $2M +13,159 +43.4%
81 XLV 0.25% 44,693 $7M $154.80 $313K -2,767 -5.8%
82 FDX 0.24% 23,763 $7M $288.86 $5M +15,662 +193.3%
83 Z 0.24% 100,000 $7M $68.22 -$7M -78,893 -44.1%
84 LIN 0.24% 15,958 $7M $426.39 $6M +13,974 +704.3%
85 UAA 0.24% 1,367,014 $7M $4.97 $538K +113,209 +9.0%
86 IBKR 0.24% 103,072 $7M $64.31 -$194K +3,916 +4.0%
87 RY 0.23% 37,821 $6M $170.49 +37,821 NEW
88 DIS 0.23% 56,051 $6M $113.77 -$6M -48,390 -46.3%
89 DE 0.22% 13,585 $6M $465.57 $2M +4,041 +42.3%
90 PNC 0.22% 30,236 $6M $208.73 $5M +21,777 +257.4%
91 INTU 0.22% 9,231 $6M $662.42 -$12M -16,582 -64.2%
92 MESHU 0.22% 607,969 $6M $10.00 +607,969 NEW
93 NCLH 0.22% 272,336 $6M $22.32 -$395K +9,507 +3.6%
94 MSTR 0.21% 39,735 $6M $151.95 +39,735 NEW
95 EA 0.21% 29,514 $6M $204.33 -$5K -411 -1.4%
96 AEM 0.21% 34,345 $6M $169.53 -$2M -13,778 -28.6%
97 OKTA 0.20% 66,755 $6M $86.47 -$431K -889 -1.3%
98 RSP 0.20% 29,365 $6M $191.56 +29,365 NEW
99 PLD 0.19% 43,015 $5M $127.66 $4M +30,204 +235.8%
100 ABC 0.19% 15,914 $5M $337.75 $2M +3,850 +31.9%

Options Breakdown

583 Calls $16.5B Call Value 587 Puts $30.9B Put Value 1.87 P/C Ratio

Top Calls

SymbolSharesValueStatus
QQQ 3,116,300 $1.9B
SPY 2,732,800 $1.9B
XLF 17,601,200 $964M
META 929,400 $613M
NVDA 2,683,800 $501M
GLD 1,175,300 $466M
TSLA 779,300 $350M
GOOGL 925,900 $290M
IWM 1,171,000 $288M
V 796,800 $279M

Top Puts

SymbolSharesValueStatus
SPY 13,015,600 $8.9B
QQQ 3,768,600 $2.3B
IWM 4,864,100 $1.2B
TSLA 2,505,900 $1.1B
NVDA 4,181,900 $780M
XLF 11,350,400 $622M
AAPL 2,163,000 $588M
META 871,100 $575M
GLD 1,305,000 $517M
AVGO 1,415,200 $490M

New Positions

SymbolValue% Port
AXP $272M 9.64%
IWM $154M 5.47%
SPY $92M 3.25%
CMG $30M 1.05%
PDD $21M 0.76%
CAT $17M 0.59%
HYG $16M 0.58%
UBER $14M 0.48%
NEM $14M 0.48%
ETHA $13M 0.48%
VRT $13M 0.48%
CSCO $13M 0.47%
JNJ $10M 0.37%
CORZ $7M 0.26%
LLY $7M 0.26%

Sold Out Positions

SymbolValue% Port
FLR —%
M —%
AIG —%
BURL —%
TALO —%
CRK —%
BAX —%
DVN —%
KODK —%
JOBY —%
PFSI —%
WMB —%
TPR —%
IP —%
RIO —%
View SEC EDGAR Filings for Parallax Volatility Advisers, L.P. →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms