Parallax Volatility Advisers, L.P.
CIK: 0001521001Latest portfolio: $50.7B · Q4 2025
Holdings
820
Total Value
$50.7B
New Positions
121
Closed Positions
133
Top Holdings
View All 820 Holdings →| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF TR | 15,882,873 | $10.8B | 21.36% | -19,995,327 | Put |
| 2 | NDQINVESCO QQQ TR | 6,884,900 | $4.2B | 8.34% | -3,799,984 | Put |
| 3 | IWMISHARES TR | 6,660,866 | $1.6B | 3.23% | -3,968,834 | Put |
| 4 | TSLATESLA INC | 3,606,811 | $1.6B | 3.20% | +400K | Put |
| 5 | XLFSELECT SECTOR SPDR TR | 28,951,601 | $1.6B | 3.13% | +5.2M | Put |
| 6 | NVDANVIDIA CORPORATION | 6,865,700 | $1.3B | 2.52% | -1,646,002 | Put |
| 7 | METAMETA PLATFORMS INC | 1,800,500 | $1.2B | 2.34% | -248,509 | Put |
| 8 | GQ9SPDR GOLD TR | 2,817,677 | $1.1B | 2.20% | -3,056,300 | Put |
| 9 | GOOGLALPHABET INC | 2,476,000 | $774.0M | 1.53% | -127,461 | Put |
| 10 | AAPLAPPLE INC | 2,843,300 | $772.0M | 1.52% | +177K | Put |
| 11 | AVGOBROADCOM INC | 1,825,118 | $630.0M | 1.24% | -371,714 | Put |
| 12 | AXPAMERICAN EXPRESS CO | 1,568,283 | $579.0M | 1.14% | +749K | Put |
| 13 | SMHVANECK ETF TRUST | 1,579,100 | $567.0M | 1.12% | -23,066 | Put |
| 14 | AMZNAMAZON COM INC | 2,173,016 | $501.0M | 0.99% | -458,766 | Put |
| 15 | MSFTMICROSOFT CORP | 1,002,400 | $483.0M | 0.95% | +347K | Put |
| 16 | SLVISHARES SILVER TR | 7,056,829 | $453.0M | 0.89% | +4.9M | Put |
| 17 | ORCLORACLE CORP | 2,313,589 | $450.0M | 0.89% | +1.2M | Put |
| 18 | BABOEING CO | 1,772,900 | $384.0M | 0.76% | -326,747 | Put |
| 19 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 1,182,552 | $358.0M | 0.71% | -447,106 | Put |
| 20 | EEMISHARES TR | 6,158,800 | $336.0M | 0.66% | -2,330,100 | Put |
| 21 | BABAALIBABA GROUP HLDG LTD | 2,247,270 | $328.0M | 0.65% | +448K | Put |
| 22 | EFAISHARES TR | 3,415,500 | $327.0M | 0.64% | +2.4M | Put |
| 23 | VVISA INC | 918,000 | $321.0M | 0.63% | +80K | Put |
| 24 | JPMJPMORGAN CHASE & CO. | 987,475 | $317.0M | 0.63% | +313K | Put |
| 25 | CVNACARVANA CO | 740,200 | $312.0M | 0.62% | -89,700 | Put |
Quarterly Changes
New Positions
Closed Positions
- AMTCLOSED$75.6B
- RDDTCLOSED$73.9B
- STTCLOSED$69.1B
- AXON 0.5 12/15/27CLOSED$31.4B
- BLSHCLOSED$26.5B
- APDCLOSED$24.5B
- EMBCLOSED$22.1B
- LYFTCLOSED$21.3B
- ALNY 1 09/15/27CLOSED$18.4B
- ADSKCLOSED$17.3B
Increased Positions
Decreased Positions
| Name | Shares | Change |
|---|---|---|
| SPY | 15.9M | -19995327 |
| ABNB 0 03/15/26 | 20.0M | -5000000 |
| SNOW 0 10/01/29 | 5.0M | -4000000 |
| ETSY 0.25 06/15/28 | 4.0M | -3420000 |
| GQ9 | 2.8M | -3056300 |
| DBX 0 03/01/28 | 2.5M | -2500000 |
| EEM | 6.2M | -2330100 |
| CBRL 0.625 06/15/26 | 4.0M | -2000000 |
| AAL | 14.6M | -1788719 |
| NVDA | 6.9M | -1646002 |
Sector Breakdown
Financial ServicesNaN% ($InfinityT)
UnknownNaN% ($InfinityT)
Consumer CyclicalNaN% ($InfinityT)
TechnologyNaN% ($InfinityT)
Energy0.0% ($1.5800086000730008e+199T)
Healthcare0.0% ($1.9900052000370004e+196T)
Industrials0.0% ($3.84000223000153e+190T)
Communication Services0.0% ($1.188000774000305e+114T)
Basic Materials0.0% ($1.0000072000700004e+113T)
Consumer Defensive0.0% ($1.4600052000500007e+98T)
Utilities0.0% ($1.7300017100072e+75T)
Real Estate0.0% ($6.400064000300003e+64T)
Filing History
| Quarter | Filing Date | Portfolio Value | Holdings |
|---|---|---|---|
| Q4 2025 | Feb 17, 2026 | $50.7B | 1,605 |
| Q3 2025 | Nov 14, 2025 | $65.9T | 1,573 |
| Q2 2025 | Aug 14, 2025 | $44.4T | 1,527 |
| Q1 2025 | May 15, 2025 | $36.9T | 1,518 |
| Q4 2024 | Feb 14, 2025 | $51.6T | 1,989 |
| Q3 2024 | Nov 14, 2024 | $54941.4T | 1,989 |
| Q2 2024 | Aug 14, 2024 | $46451.6T | 1,943 |
| Q1 2024 | May 15, 2024 | $44657.7T | 1,762 |
| Q4 2023 | Feb 14, 2024 | $48987.7T | 2,118 |
| Q3 2023 | Nov 14, 2023 | $44809.3T | 2,242 |
| Q2 2023 | Aug 14, 2023 | $45933.8T | 2,322 |
| Q1 2023 | May 15, 2023 | $48943.8T | 2,655 |
| Q4 2022 | Feb 14, 2023 | $64428.5T | 2,827 |
| Q3 2022 | Nov 14, 2022 | $64.1T | 3,092 |
| Q2 2022 | Aug 15, 2022 | $83.5T | 2,776 |
| Q1 2022 | May 16, 2022 | $191.6T | 2,839 |
| Q4 2021 | Feb 14, 2022 | $25.1T | 13,999 |
| Q3 2021 | Nov 15, 2021 | $28.4T | 17,999 |
| Q2 2021 | Aug 16, 2021 | $40.4T | 24,999 |
| Q1 2021 | May 14, 2021 | $23.5T | 19,999 |
| Q4 2020 | Feb 16, 2021 | $36.1T | 29,999 |
| Q3 2020 | Nov 13, 2020 | $135.0T | 113,217 |
| Q2 2020 | Aug 14, 2020 | $85.5T | 86,836 |
| Q1 2020 | May 15, 2020 | $77.8T | 57,116 |
| Q4 2019 | Feb 14, 2020 | $86.7T | 37,347 |
| Q3 2019 | Nov 14, 2019 | $88.9T | 40,517 |
| Q2 2019 | Aug 14, 2019 | $91.8T | 41,521 |
| Q1 2019 | May 15, 2019 | $87.8T | 33,144 |
| Q4 2018 | Feb 14, 2019 | $75.6T | 35,521 |
| Q3 2018 | Nov 14, 2018 | $81.9T | 21,886 |
| Q2 2018 | Aug 14, 2018 | $70.7T | 6,682 |
| Q1 2018 | May 15, 2018 | $74.4T | 6,100 |
| Q4 2017 | Feb 14, 2018 | $73.6T | 7,871 |
| Q3 2017 | Nov 14, 2017 | $60.6T | 6,319 |
| Q2 2017 | Aug 14, 2017 | $51.6T | 7,439 |
| Q1 2017 | May 15, 2017 | $48.5T | 14,945 |
| Q4 2016 | Feb 14, 2017 | $51.1T | 12,953 |
| Q3 2016 | Nov 14, 2016 | $54.0T | 13,793 |
| Q2 2016 | Aug 15, 2016 | $50.7T | 13,825 |
| Q1 2016 | May 16, 2016 | $45.6T | 16,316 |
Fund Information
Parallax Volatility Advisers, L.P. is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $50.7B across 820 holdings. The largest position is SPDR S&P 500 ETF TR (SPY), representing 21.4% of the portfolio. Compared to the previous quarter, the fund opened 227 new positions and closed 232 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.