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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
+130.57%
5 Year Est. Return
+159.2%
10 Year Est. Return
+646.93%
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
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$3.8B 10.3%
6,800,400
-564,800
-8% -$332M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$450B
$2.75B 7.45%
5,862,400
-1,707,300
-23% -$867M
QQQ icon
3
CALL
Invesco QQQ Trust
QQQ
$450B
$1.19B 3.22%
2,539,000
-324,800
-11% -$165M
IWM icon
4
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$1.07B 2.89%
5,344,300
+95,100
+2% +$20.6M
NVDA icon
5
PUT
NVIDIA
NVDA
$4.72T
$896M 2.43%
8,271,100
-1,288,300
-13% -$163M
META icon
6
CALL
Meta Platforms (Facebook)
META
$1.37T
$726M 1.97%
1,259,000
-936,100
-43% -$604M
SPY icon
7
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$709M 1.92%
1,266,900
-545,300
-30% -$321M
TSLA icon
8
PUT
Tesla
TSLA
$1.22T
$650M 1.76%
2,506,400
-185,000
-7% -$61.7M
META icon
9
PUT
Meta Platforms (Facebook)
META
$1.37T
$557M 1.51%
965,700
-281,700
-23% -$182M
IWM icon
10
CALL
iShares Russell 2000 ETF
IWM
$80.2B
$504M 1.36%
2,524,400
+1,326,700
+111% +$288M
TSM icon
11
PUT
TSMC
TSM
$2.09T
$476M 1.29%
2,869,700
+672,100
+31% +$131M
AAPL icon
12
PUT
Apple
AAPL
$4.9T
$401M 1.09%
1,803,500
-2,182,700
-55% -$506M
NVDA icon
13
CALL
NVIDIA
NVDA
$4.72T
$375M 1.01%
3,457,600
-624,700
-15% -$79.2M
BRK.B icon
14
CALL
Berkshire Hathaway Class B
BRK.B
$1.1T
$316M 0.85%
592,500
-124,100
-17% -$60.3M
NFLX icon
15
PUT
Netflix
NFLX
$305B
$306M 0.83%
3,281,000
-1,267,000
-28% -$120M
SMH icon
16
PUT
VanEck Semiconductor ETF
SMH
$65B
$299M 0.81%
1,414,000
+908,800
+180% +$218M
TLT icon
17
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
$284M 0.77%
3,125,100
+1,990,600
+175% +$177M
GLD icon
18
CALL
SPDR Gold Trust
GLD
$133B
$284M 0.77%
983,900
-706,900
-42% -$187M
AVGO icon
19
PUT
Broadcom
AVGO
$1.85T
$272M 0.74%
1,623,800
+113,700
+8% +$24.1M
MSTR icon
20
PUT
Strategy Inc
MSTR
$35.7B
$270M 0.73%
936,100
+45,300
+5% +$14.4M
JPM icon
21
PUT
JPMorgan Chase
JPM
$933B
$222M 0.6%
906,300
-322,900
-26% -$82.3M
BAC icon
22
PUT
Bank of America
BAC
$433B
$210M 0.57%
5,032,900
-1,050,500
-17% -$46.8M
XLF icon
23
PUT
State Street Financial Select Sector SPDR ETF
XLF
$56.8B
$207M 0.56%
4,160,900
-2,003,000
-32% -$100M
UBER icon
24
PUT
Uber
UBER
$143B
$205M 0.55%
2,810,500
-871,800
-24% -$62.8M
AXP icon
25
CALL
American Express
AXP
$228B
$203M 0.55%
753,000
-29,900
-4% -$8.84M
1
2 3 4 5

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Nomura Asset Management
Nomura Asset Management Tokyo, Japan $38.8B AUM 30.94% 1-Year Est. Return
Credit Agricole
Credit Agricole Montrouge Cedex, France $38.1B AUM
Carson Wealth (CWM LLC)
Carson Wealth (CWM LLC) Omaha, Nebraska $38.1B AUM 19.66% 1-Year Est. Return
Fayez Sarofim & Co
Fayez Sarofim & Co Houston, Texas $39.1B AUM 15.14% 1-Year Est. Return
Grantham, Mayo, Van Otterloo & Co (GMO)
Grantham, Mayo, Van Otterloo & Co (GMO) Boston, Massachusetts $39.1B AUM 28.69% 1-Year Est. Return
Nomura Holdings
Nomura Holdings Tokyo, Japan $37.7B AUM 34.44% 1-Year Est. Return
KBC Group
KBC Group Brussels, Belgium $39.9B AUM 29.7% 1-Year Est. Return

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.