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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
-5.77%
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
$36.9B
AUM Growth
-$14.6B
Cap. Flow
-$12.3B
Cap. Flow %
-33.2%
Top 10 Hldgs %
34.8%
Holding
2,248
New
267
Increased
417
Reduced
704
Closed
731

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$119M
2
V icon
Visa
V
+$49.6M
3
DAL icon
Delta Air Lines
DAL
+$41.9M
4
AVGO icon
Broadcom
AVGO
+$40.4M
5
ETSY icon
Etsy
ETSY
+$39.3M

Top Sells

Rank Stock Value
1
GE icon
GE Aerospace
GE
+$172M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$93.4M
3
AXP icon
American Express
AXP
+$84.7M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$76.5M
5
NVDA icon
NVIDIA
NVDA
+$76M

Sector Composition

Rank Sector Weight
1 Technology 2.6%
2 Consumer Discretionary 0.92%
3 Financials 0.88%
4 Industrials 0.64%
5 Communication Services 0.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RKT icon
2001
CALL
Rocket Companies
RKT
$38.9B
– –
-900
Closed -$10.1K
RLX icon
2002
CALL
RLX Technology
RLX
$2.46B
– –
-500,000
Closed -$1.08M
RNG icon
2003
RingCentral
RNG
$5.28B
– –
-1,073
Closed -$33.5K
RNG icon
2004
PUT
RingCentral
RNG
$5.28B
– –
-335,400
Closed -$11.7M
ROIV icon
2005
CALL
Roivant Sciences
ROIV
$26.2B
– –
-73,700
Closed -$872K
ROIV icon
2006
Roivant Sciences
ROIV
$26.2B
– –
-21,878
Closed -$259K
ROST icon
2007
CALL
Ross Stores
ROST
$81.9B
– –
-53,000
Closed -$8.02M
ROST icon
2008
Ross Stores
ROST
$81.9B
– –
-1
Closed -$151
RPD icon
2009
CALL
Rapid7
RPD
$773M
– –
-5,300
Closed -$213K
RSP icon
2010
Invesco S&P 500 Equal Weight ETF
RSP
$99.1B
– –
-8,264
Closed -$1.47M
RTX icon
2011
RTX Corp
RTX
$301B
– –
-3,062
Closed -$388K
RUN icon
2012
CALL
Sunrun
RUN
$2.46B
– –
-120,000
Closed -$1.11M
RUN icon
2013
Sunrun
RUN
$2.46B
– –
-80
Closed -$740
RUN icon
2014
PUT
Sunrun
RUN
$2.46B
– –
-443,000
Closed -$4.1M
RVLV icon
2015
Revolve Group
RVLV
$1.73B
– –
-7,169
Closed -$240K
RVLV icon
2016
PUT
Revolve Group
RVLV
$1.73B
– –
-50,000
Closed -$1.67M
RY icon
2017
CALL
Royal Bank of Canada
RY
$293B
– –
-332,200
Closed -$40M
RY icon
2018
PUT
Royal Bank of Canada
RY
$293B
– –
-5,100
Closed -$615K
RYTM icon
2019
CALL
Rhythm Pharmaceuticals
RYTM
$7.96B
– –
-8,700
Closed -$487K
S icon
2020
CALL
SentinelOne
S
$7.34B
– –
-85,600
Closed -$1.9M
SABR icon
2021
Sabre
SABR
$835M
– –
-200,577
Closed -$710K
ECHO
2022
CALL
EchoStar
ECHO
$26.2B
– –
-2,700
Closed -$61.8K
ECHO
2023
EchoStar
ECHO
$26.2B
– –
-47,213
Closed -$1.08M
ECHO
2024
PUT
EchoStar
ECHO
$26.2B
– –
-462,700
Closed -$10.6M
SE icon
2025
Sea Limited
SE
$69.5B
– –
-77,027
Closed -$9.55M
79 80
81
82 83

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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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HF
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Parallax Volatility Advisers's Q1 2025 Portfolio in Review

As of Q1 2025, Parallax Volatility Advisers held 2,248 positions worth $36.9B, down 28% from $51.6B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Parallax Volatility Advisers withdrew a net $12.3B in Q1 2025, closing 731 positions and reducing 704 holdings. Its most notable exit was Invesco QQQ Trust, an estimated $93.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 2.6% of assets, up from 1.8% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Parallax Volatility Advisers opened a new position in Visa worth $51.3M.

  • Parallax Volatility Advisers's largest Q1 2025 buy was Visa: 146,472 shares worth $51.3M.
  • Parallax Volatility Advisers added most to TSMC in Q1 2025, an estimated $119M increase.
  • Parallax Volatility Advisers's biggest Q1 2025 reduction was GE Aerospace, cutting an estimated $172M.
  • Parallax Volatility Advisers fully exited Invesco QQQ Trust in Q1 2025, selling an estimated $93.4M.
  • Parallax Volatility Advisers's ten largest holdings make up 35% of its $36.9B portfolio in Q1 2025.
  • Parallax Volatility Advisers opened 267 new positions and closed 731 in Q1 2025.
  • Parallax Volatility Advisers's portfolio value fell 28% quarter-over-quarter to $36.9B.

Based on Parallax Volatility Advisers's 13F filing for Q1 2025, filed 15 May 2025.