Parallax Volatility Advisers, L.P.

Registered adviser

CIK

1521001

Location

San Francisco, CA

Portfolio Value

Large $55,098,472,779

Diversification

Moderately concentrated

Filing Date

Global Rank

#167 / 8,807 ▲ 33

Top Industry

Semiconductors 18.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 158143

Roster of Oct 1, 2026

Regulatory AUM

$5,979,806,000

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

1 fund · Hedge funds

Focus by gross assets, Schedule D of Oct 29, 2024

$5,979,806,000 gross assets

LEI

549300V0VY0537RICC64

Private funds on Schedule D 7.B.(1)

As filed Oct 29, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$8,103,391,500 gross assets in 1 fund Hedge funds $8,103,391,500 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$5,979,806,000	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$8,934,161,600	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$8,103,391,500	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$24,600,536,413	Pooled investment vehicles (100%)
Apr 2023	$24,600,536,413	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$18,213,467,230	Pooled investment vehicles (100%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 29.8%, 49.7 effective positions, active share 59.3% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

182.4% over the last four quarters (100%+)

Horizon

Horizon unknown

The value-weighted holding period is at least 4.1 quarters, but 1.7% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 59.3%; sector active share 19.5% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

779 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

41.6%

+18.4 pts

Top 5

64.8%

+19.3 pts

Top 10

70.9%

+16.8 pts

HHI

2,032

Moderately concentrated+1,270

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	66.3%	$36,523,051,945	61
Technology	12.1%	$6,664,762,714	126
Financial Services	7.0%	$3,879,619,376	256
Consumer Cyclical	4.1%	$2,239,356,586	60
Communication Services	2.8%	$1,564,629,617	30
Industrials	2.3%	$1,275,551,781	57
Energy	2.0%	$1,126,818,242	48
Consumer Defensive	0.9%	$514,875,009	27
Healthcare	0.8%	$467,199,906	34
Basic Materials	0.8%	$438,014,078	40
Utilities	0.4%	$220,406,699	20
Real Estate	0.3%	$184,186,826	20

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	+1,105,204	1,157,378	$231,579,764
—		+506,047	527,817	$12,915,681
BB	BLACKBERRY Ltd	+468,544	537,658	$6,801,373
AEAQW	Activate Energy Acquisition Corp.	+351,540	560,600	$0
WMT	Walmart Inc.	+325,909	325,915	$36,913,132
PCAP	ProCap Acquisition Corp	+311,562	622,676	$6,401,109
FCX	Freeport-Mcmoran Inc	+295,410	295,411	$18,578,397
VHCPW	Vine Hill Capital Investment Corp. II	+250,300	291,010	$0
INTC	Intel Corp	+236,687	459,534	$64,164,732
XOM	ExxonMobil Holdings Corp	+232,782	247,293	$33,809,898
KCHV	Kochav Defense Acquisition Corp.	+222,215	544,749	$5,649,047
WMB	Williams Companies, Inc.	+204,735	204,737	$15,220,148
RUN	Sunrun Inc.	+166,411	185,716	$2,484,880
B	Barrick Mining Corp	+160,581	418,885	$15,385,646
NOVTU	Novanta Inc	+151,211	298,876	$20,144,242
ABR	Arbor Realty Trust Inc	+150,000	250,000	$1,355,000
SBUX	Starbucks Corp	+148,213	162,699	$16,626,210
IREN	IREN Ltd	+147,642	155,170	$7,095,924
SMCI	Super Micro Computer, Inc.	+134,833	403,449	$11,833,159
BSX	Boston Scientific Corp	+133,810	135,199	$5,770,293
WFC	Wells Fargo & Company/Mn	+123,742	162,737	$13,448,585
UAA	Under Armour, Inc.	+119,561	1,049,803	$6,708,241
WENN	WEN Acquisition Corp	+111,690	940,587	$9,678,640
MO	Altria Group, Inc.	+110,133	147,927	$10,643,347
KBONW	Karbon Capital Partners Corp.	+107,538	145,948	$0
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
XLF	State Street Corp	−2,082,578	1	$53
AAL	American Airlines Group Inc.	−692,830	283,576	$5,124,218
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	−657,320	2	$106
BTDR	Bitdeer Technologies Group	−389,497	188,915	$2,998,081
APXTW	Apex Treasury Corp	−385,801	175,000	$0
TACO	Berto Acquisition Corp.	−336,666	294,700	$3,091,403
IGAC	Invest Green Acquisition Corp	−293,866	300,000	$3,003,000
EQT	EQT Corp	−263,236	3	$159
GDX	VanEck Gold Miners ETF	−263,022	1	$75
SVAQ	Silicon Valley Acquisition Corp.	−245,038	96,925	$977,973
AAPL	Apple Inc.	−239,310	70,306	$20,343,744
ARTC	Art Technology Acquisition Corp.	−237,197	102,790	$1,020,704
F	Ford Motor Co	−233,073	530,327	$7,371,545
TDWD	Tailwind 2.0 Acquisition Corp.	−229,904	260,000	$2,610,400
GIW	GigCapital8 Corp.	−204,297	157,515	$1,586,018
BACCR	Blue Acquisition Corp/Cayman	−203,610	75,000	$0
NCLH	Norwegian Cruise Line Holdings Ltd.	−188,293	57,131	$1,206,035
DNMX	Dynamix Corp III	−186,790	379,577	$3,791,974
KCHVR	Kochav Defense Acquisition Corp.	−183,094	624,695	$0
AEAQ	Activate Energy Acquisition Corp.	−181,719	350,000	$3,500,000
JD	JD.com, Inc.	−173,282	4,221	$107,551
COP	Conocophillips	−166,145	10	$1,039
CRWV	CoreWeave, Inc.	−165,037	6	$597
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF	−156,795	1	$74
VZ	Verizon Communications Inc	−151,456	22,416	$949,093
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AMAT	Applied Materials Inc /De	76,903	$55,600,869
AMZN	Amazon Com Inc	209,819	$50,008,260
CSCO	Cisco Systems, Inc.	234,359	$27,527,808
META	Meta Platforms, Inc.	41,691	$23,484,123
DELL	Dell Technologies Inc.	51,200	$22,090,752
ORCL	Oracle Corp	94,032	$13,780,389
PLTR	Palantir Technologies Inc.	116,581	$13,601,505
IBIT	iShares Bitcoin Trust ETF	347,896	$11,581,457
NBIS	Nebius Group N.V.	39,881	$11,013,935
RSP	Victory Portfolios II	38,765	$8,248,029
RRC	Range Resources Corp	200,708	$7,464,330
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	28,460	$5,422,199
CAII	Collective Acquisition Corp. II	541,240	$5,358,275
VHCP	Vine Hill Capital Investment Corp. II	523,089	$5,220,428
OHAC	Oceanhawk Acquisition Corp.	401,248	$3,972,355
PDD	PDD Holdings Inc.	50,601	$3,859,844
ZION	Zions Bancorporation, National Association /Ut/	54,270	$3,754,941
EWJ	iShares MSCI Japan ETF	39,711	$3,703,844
—		71,455	$3,409,118
FDXF	FedEx Freight Holding Company, Inc.	21,069	$3,181,419
QLEP	Quantum Leap Acquisition Corp	320,242	$3,180,003
PGR	Progressive Corp/Oh/	14,337	$3,131,917
DIA	Spdr Dow Jones Industrial Average ETF Trust	5,976	$3,121,802
CAG	Conagra Brands Inc.	209,033	$2,813,584
IONQ	IonQ, Inc.	51,179	$2,725,793
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
EWZ	iShares MSCI Brazil ETF	532,801	$20,454,230
PWR	Quanta Services, Inc.	21,736	$11,933,498
ASML	Asml Holding NV	8,030	$10,606,264
ANET	Arista Networks, Inc.	86,338	$10,600,579
MRVL	Marvell Technology, Inc.	104,246	$10,325,566
PANW	Palo Alto Networks Inc	60,488	$9,697,436
IBM	International Business Machines Corp	31,535	$7,643,768
WEC	Wec Energy Group, Inc.	63,824	$7,388,904
CRDO	Credo Technology Group Holding Ltd	73,390	$6,889,119
VRT	Vertiv Holdings Co	24,215	$6,067,794
DAL	Delta Air Lines, Inc.	83,166	$5,528,875
FUTU	Futu Holdings Ltd	40,179	$5,494,880
VHCPU	Vine Hill Capital Investment Corp. II	513,083	$5,130,830
TTD	Trade Desk, Inc.	224,006	$5,082,696
GLD	Spdr Gold Trust	11,373	$4,893,688
FERA	Fifth Era Acquisition Corp I	400,300	$4,123,090
AR	ANTERO RESOURCES Corp	96,702	$4,104,032
TMUS	T-Mobile US, Inc.	19,369	$4,068,071
GLW	Corning Inc /Ny	26,565	$3,612,043
VOYA	Voya Financial, Inc.	49,107	$3,354,990
AAOI	Applied Optoelectronics, Inc.	38,271	$3,237,343
JBL	Jabil Inc	12,137	$3,223,951
QCOM	Qualcomm Inc/De	23,772	$3,061,358
VIRT	Virtu Financial, Inc.	62,390	$2,743,912
MGA	Magna International Inc	44,483	$2,482,596
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

779 tracked positions · $55,098,472,779 total · filing declares 1,502 positions · $58,866,296,771 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 779 positions by value · page 1 of 16

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL	Added	30,673,000	+18,406,200	$22,905,676,210	+187.1%	—	—	41.57%
QQQ	Invesco Qqq Trust, Series 1 PUT CALL	Added	12,390,000	+4,951,500	$9,123,996,000	+112.5%	—	—	16.56%
XLF	State Street Corp PUT CALL + SHARES Financial Services	Reduced	22,898,101	-9,379,878	$1,227,567,194	−23.0%	26+	before history	2.23%
SMH	VanEck Semiconductor ETF PUT CALL	Reduced	1,719,000	-41,100	$1,127,474,910	+67.1%	—	—	2.05%
NVDA	Nvidia Corp PUT CALL + SHARES Technology	Added	5,343,178	+663,704	$1,069,116,486	+31.0%	2	$204.61	1.94%
GLD	Spdr Gold Trust PUT CALL	Added	2,900,500	+1,344,727	$1,068,486,190	+59.6%	—	—	1.94%
TSLA	Tesla, Inc. PUT CALL + SHARES Consumer Cyclical	Added	1,277,932	+52,400	$537,498,199	+18.0%	4	$369.16	0.98%
AMD	Advanced Micro Devices Inc PUT CALL Technology	Reduced	905,200	-483,919	$525,839,732	+86.1%	—	—	0.95%
MU	Micron Technology Inc PUT CALL + SHARES Technology	Reduced	416,116	-110,433	$480,318,537	+170.0%	4	$351.96	0.87%
AMZN	Amazon Com Inc PUT CALL + SHARES Consumer Cyclical	Reduced	1,460,419	-516,081	$348,076,264	−15.4%	1	$251.01	0.63%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF PUT CALL + SHARES	Reduced	6,434,202	-1,928,220	$341,720,468	−33.3%	26+	before history	0.62%
GOOGL	Alphabet Inc. PUT CALL + SHARES Communication Services	Reduced	923,453	-152,049	$330,014,398	+6.7%	2	$314.21	0.60%
INTC	Intel Corp PUT CALL + SHARES Technology	Reduced	2,128,134	-959,513	$297,151,350	+118.1%	2	$74.31	0.54%
AAPL	Apple Inc. PUT CALL + SHARES Technology	Reduced	980,706	-855,310	$283,777,088	−39.1%	2	$260.25	0.52%
IBIT	iShares Bitcoin Trust ETF PUT CALL + SHARES	Reduced	7,970,796	-1,367,404	$265,347,798	−26.0%	1	$40.68	0.48%
SLV	iShares Silver Trust PUT CALL	Added	4,536,900	+83,000	$242,588,043	−20.1%	—	—	0.44%
NFLX	Netflix Inc PUT CALL + SHARES Communication Services	Added	3,312,714	+431,323	$236,527,779	−14.6%	7	$92.29	0.43%
EEM	iShares MSCI Emerging Markets ETF PUT CALL	Reduced	3,392,800	-1,164,200	$232,101,448	−10.3%	—	—	0.42%
META	Meta Platforms, Inc. PUT CALL + SHARES Communication Services	Reduced	406,091	-615,509	$228,746,999	−60.9%	1	$611.48	0.42%
WMT	Walmart Inc. PUT CALL + SHARES Consumer Defensive	Added	2,001,515	+971,009	$226,691,588	+77.0%	4	$124.14	0.41%
GDX	VanEck Gold Miners ETF PUT CALL + SHARES	Added	2,949,901	+45,978	$222,570,030	−16.5%	26+	before history	0.40%
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF PUT CALL + SHARES	Added	2,968,001	+940,905	$222,154,874	+68.2%	26+	before history	0.40%
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF PUT CALL + SHARES	Added	1,181,963	+204,662	$218,935,006	+38.5%	26+	before history	0.40%
GS	Goldman Sachs Group Inc PUT CALL + SHARES Financial Services	Added	209,330	+28,171	$211,710,082	+38.1%	4	$907.01	0.38%
BA	Boeing Co PUT CALL + SHARES Industrials	Reduced	950,445	-12,742	$205,742,829	+7.3%	2	$227.45	0.37%
TTWO	Take Two Interactive Software Inc PUT CALL + SHARES Communication Services	Added	794,271	+214,510	$198,551,864	+73.4%	3	$220.97	0.36%
AAL	American Airlines Group Inc. PUT CALL + SHARES Industrials	Reduced	10,968,976	-1,683,830	$198,209,396	+45.9%	6	$14.58	0.36%
XOM	ExxonMobil Holdings Corp PUT CALL + SHARES Energy	Added	1,447,593	+345,982	$197,914,914	+5.9%	2	$149.45	0.36%
V	Visa Inc. PUT CALL + SHARES Financial Services	Reduced	575,905	-39,500	$197,587,246	+6.2%	2	$321.55	0.36%
C	Citigroup Inc PUT CALL + SHARES Financial Services	Reduced	1,343,862	-936,365	$188,086,925	−27.3%	7	$94.11	0.34%
QCOM	Qualcomm Inc/De PUT CALL Technology	Added	975,700	+418,128	$180,299,603	+151.1%	—	—	0.33%
MSFT	Microsoft Corp PUT CALL + SHARES Technology	Reduced	479,086	-142,451	$178,708,659	−22.3%	2	$409.91	0.32%
CVX	Chevron Corp PUT CALL + SHARES Energy	Reduced	1,027,949	-503,626	$170,392,826	−46.2%	5	$171.65	0.31%
NBIS	Nebius Group N.V. PUT CALL + SHARES Communication Services	Added	598,181	+139,081	$165,199,646	+246.8%	1	$198.04	0.30%
ORCL	Oracle Corp PUT CALL + SHARES Technology	Reduced	1,118,132	-637,568	$163,862,244	−36.6%	1	$181.23	0.30%
MRVL	Marvell Technology, Inc. PUT CALL Technology	Reduced	536,600	-362,446	$159,847,774	+79.5%	—	—	0.29%
BRK-B	Berkshire Hathaway Inc PUT CALL + SHARES Financial Services	Reduced	313,716	-163,995	$156,980,349	−31.4%	5	$489.77	0.28%
SPCX	Space Exploration Technologies Corp PUT CALL Industrials	NEW	906,200	NEW	$154,833,332	NEW	—	—	0.28%
AVGO	Broadcom Inc. PUT CALL Technology	Reduced	388,300	-72,500	$146,680,325	+2.8%	—	—	0.27%
MSTR	Strategy Inc PUT CALL + SHARES Technology	Reduced	1,654,824	-248,936	$143,853,850	−39.5%	3	$174.46	0.26%
BABA	Alibaba Group Holding Ltd PUT CALL + SHARES Consumer Cyclical	Reduced	1,493,119	-212,425	$143,309,561	−33.0%	7	$154.65	0.26%
TSM	Taiwan Semiconductor Manufacturing Co Ltd PUT CALL + SHARES Technology	Reduced	295,546	-200,036	$141,143,903	−15.7%	4	$244.54	0.26%
IBM	International Business Machines Corp PUT CALL Technology	Reduced	488,900	-60,435	$137,483,569	+3.3%	—	—	0.25%
ARM	Arm Holdings PLC /Uk PUT CALL Technology	Reduced	350,700	-147,449	$124,347,699	+65.0%	—	—	0.23%
AMAT	Applied Materials Inc /De PUT CALL + SHARES Technology	Added	166,803	+6,803	$120,598,569	+120.5%	1	$461.39	0.22%
EAT	Brinker International, Inc PUT Consumer Cyclical	Added	710,900	+24,500	$119,431,200	+21.9%	—	—	0.22%
CMG	Chipotle Mexican Grill Inc PUT CALL + SHARES Consumer Cyclical	Added	3,404,215	+3,127,802	$115,743,310	+1208.1%	3	$35.70	0.21%
JPM	Jpmorgan Chase & Co PUT CALL + SHARES Financial Services	Reduced	349,754	-271,274	$114,484,976	−37.3%	10	$290.45	0.21%
BAC	Bank Of America Corp /De/ PUT CALL + SHARES Financial Services	Reduced	1,998,473	-2,035,483	$113,872,991	−42.1%	4	$53.07	0.21%
SNOW	Snowflake Inc. PUT CALL + SHARES Technology	Reduced	445,267	-24,737	$113,320,451	+59.9%	4	$214.74	0.21%

Showing the top 50 of 779 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.