§ 13F · FUND PROFILE
Parallax Volatility Advisers, L.P..
Volatility arbitrage, options strategies
AUM · $58.9B (13F)Positions · 1502Turnover · 49% · Q2Filed · Aug 14, 2026
CONCENTRATION
62%
Top 10 holdings
NEW BUYS
+179
+$723M deployed
EXITS
0
No exits
SECTOR SHIFT
OTHER → SEMICONDUCTORS
-7pp · +0pp
§ 01 · TOP HOLDINGS
The book · Q2 2026
FILED AUG 14, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q2 |
|---|---|---|---|---|---|---|
| 1 | SPY | STATE STR SPDR S&P 500 ETF T | 26.12M | $19.5B | 33.1% | +150% |
| 2 | QQQ | INVESCO QQQ TR | 8.30M | $6.1B | 10.4% | +67% |
| 3 | SPY | STATE STR SPDR S&P 500 ETF T | 4.55M | $3.4B | 5.8% | — |
| 4 | QQQ | INVESCO QQQ TR | 4.09M | $3.0B | 5.1% | — |
| 5 | IWM | ISHARES TR | 5.06M | $1.5B | 2.6% | −8% |
| 6 | GLD | SPDR GOLD TR | 2.21M | $814M | 1.4% | +86% |
| 7 | XLF | SELECT SECTOR SPDR TR | 12.85M | $689M | 1.2% | −29% |
| 8 | NVDA | NVIDIA CORPORATION | 3.01M | $601M | 1.0% | +14% |
| 9 | SMH | VANECK ETF TRUST | 866K | $568M | 1.0% | −2% |
| 10 | SMH | VANECK ETF TRUST | 853K | $559M | 1.0% | — |
§ 02 · SECTOR ALLOCATION
Where the money is
Other10.8% (−7pp)
Semiconductors6.5% (±0)
Technology4.9% (−3pp)
Media2.2% (−2pp)
Financial Services2.2% (−1pp)
Retail2.0%
§ 03 · THE PARALLAX SIGNAL
AC read
Parallax Volatility Advisers, L.P. is a Systematic / Quant fund managing $58.9 billion in assets. The fund runs a massive portfolio of 1,502 positions, high concentration in top holdings, with the top 10 positions making up 62% of the portfolio. Trading activity is aggressive at 49% quarterly turnover, with 179 new positions and 0 exits last quarter. Top sector allocations: Other (11%), Semiconductors (7%), Technology (5%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
4 OF 2 FILINGS MEASURED
Q2 2026
Busy quarter
+179 buys · −0 exits · 552 changed
Q1 2026
Busy quarter
+179 buys · −0 exits · 549 changed
Q4 2025
Busy quarter
+154 buys · −0 exits · 586 changed
Q3 2025
Busy quarter
+825 buys · −0 exits · 0 changed