13F value (AUM)
$58.9B
Parallax Volatility Advisers
PARALLAX VOLATILITY ADVISERS, L.P.
$58.9B
13F long value · 2026-Q2Positions1502
CategoryAsset Manager
Quarters tracked9
▲ #171 of 581 by 13F value
Size rank 8/10
10 NEW61 ADD92 2×+75 TRIM50 NEAR EXIT7 EXIT
Snapshot
Parallax Volatility Advisers's 13F portfolio at a glance — size, concentration and this quarter's activity.
Positions
1502 (290 unmapped)
Top 100 weight
83.3%
Quarters tracked
9
Latest 13F filed
Aug 14, 2026
New positions
10
Exits / near-exits
57
13F value by quarter
Total reported long value each quarter — fund flows plus market moves.
Top holdings — 2026-Q2
The fund's largest reported positions (PUT/CALL rows are option positions, reported separately). The 100 shown cover 83.3% of the portfolio.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| SPY PUT | STATE STR SPDR S&P 500 ETF T | 33.1% | $19.5B | 26.1M | — |
| QQQ CALL | INVESCO QQQ TR | 10.4% | $6.1B | 8.3M | — |
| SPY CALL | STATE STR SPDR S&P 500 ETF T | 5.8% | $3.4B | 4.6M | — |
| QQQ PUT | INVESCO QQQ TR | 5.1% | $3.0B | 4.1M | — |
| IWM PUT | ISHARES TR | 2.6% | $1.5B | 5.1M | — |
| GLD CALL | SPDR GOLD TR | 1.4% | $813.8M | 2.2M | — |
| XLF PUT | SELECT SECTOR SPDR TR | 1.2% | $688.9M | 12.9M | — |
| NVDA PUT | NVIDIA CORPORATION | 1.0% | $601.5M | 3.0M | — |
| SMH CALL | VANECK ETF TRUST | 1.0% | $568.2M | 866.3K | — |
| SMH PUT | VANECK ETF TRUST | 1.0% | $559.3M | 852.7K | — |
| XLF CALL | SELECT SECTOR SPDR TR | 0.9% | $538.7M | 10.0M | — |
| IWM CALL | ISHARES TR | 0.8% | $468.6M | 1.6M | — |
| MU PUT | MICRON TECHNOLOGY INC | 0.7% | $390.5M | 338.3K | — |
| AMD PUT | ADVANCED MICRO DEVICES INC | 0.6% | $348.9M | 600.6K | — |
| EFA PUT | ISHARES TR | 0.5% | $309.1M | 3.0M | — |
Option positions — 2026-Q2
$37.0B across 436 put positions vs $19.1B across 418 call positions — put/call ratio 1.94. Values are notional — the market value of the shares the options reference.
| Type | Ticker | Issuer | Underlying shares | Notional value | % of 13F value |
|---|---|---|---|---|---|
| PUT | SPY | STATE STR SPDR S&P 500 ETF T | 26.1M | $19.5B | 33.1% |
| CALL | QQQ | INVESCO QQQ TR | 8.3M | $6.1B | 10.4% |
| CALL | SPY | STATE STR SPDR S&P 500 ETF T | 4.6M | $3.4B | 5.8% |
| PUT | QQQ | INVESCO QQQ TR | 4.1M | $3.0B | 5.1% |
| PUT | IWM | ISHARES TR | 5.1M | $1.5B | 2.6% |
| CALL | GLD | SPDR GOLD TR | 2.2M | $813.8M | 1.4% |
| PUT | XLF | SELECT SECTOR SPDR TR | 12.9M | $688.9M | 1.2% |
| PUT | NVDA | NVIDIA CORPORATION | 3.0M | $601.5M | 1.0% |
| CALL | SMH | VANECK ETF TRUST | 866.3K | $568.2M | 1.0% |
| PUT | SMH | VANECK ETF TRUST | 852.7K | $559.3M | 1.0% |
Quarterly changes — 2026-Q2
What Parallax Volatility Advisers opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| 2×+ | NVDA | NVIDIA CORPORATION | 52.2K | 1.2M | +2118.3% | +$222.5M |
| NEAR EXIT | XLF | SELECT SECTOR SPDR TR | 2.1M | 1 | -100.0% | -$104.2M |
| NEAR EXIT | AAPL | APPLE INC | 309.6K | 70.3K | -77.3% | -$58.2M |
| NEW | AMAT | APPLIED MATLS INC | — | 76.9K | — | +$55.6M |
| 2×+ | INTC | INTEL CORP | 222.8K | 459.5K | +106.2% | +$54.3M |
| NEW | AMZN | AMAZON COM INC | — | 209.8K | — | +$50.0M |
| EXIT | — | ORACLE CORP | 1.0M | 0 | -100.0% | -$46.9M |
| 2×+ | WMT | WALMART INC | 6 | 325.9K | +5431816.7% | +$36.9M |
| NEAR EXIT | XLE | SELECT SECTOR SPDR TR | 657.3K | 2 | -100.0% | -$36.7M |
| EXIT | — | COINBASE GLOBAL INC | 35.0M | 0 | -100.0% | -$34.8M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.