Top Institutional Investors

Parallax Volatility Advisers, L.P. — 13F Holdings & Portfolio

CIK 1521001 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Parallax Volatility Advisers, L.P. manages $58.87B in 13F-reported U.S. long-equity assets across 1,502 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPY (33.14%), QQQ (10.38%), SPY (5.77%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 181 new positions and exited 145; 243 existing positions rose in reported value and 176 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$58.87B

Long-equity book

Holdings
1,502

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+181 / −145 / ↑243 / ↓176

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
NVDA8.6% · +2118%NEEPV7.7% · +17%INTC2.4% · +106%AMAT2.1% · newAMZN1.9% · newMU1.6% · -46%GS1.6% · +25%WMT1.4% · +5431817%BABA1.3% · -16%XOM1.3% · +1604%C1.1% · +17%NFLX1.1% · +14%LRCX1.1% · +815%CHEF1.1% · -13%CSCO1.0% · newCVX1.0% · +1%GOOGL1.0% · -34%SOXX0.9% · +207%SVM0.9% · +96%SMTC0.9% · 0%TTWO0.9% · +52%META0.9% · newDELL0.8% · newCI0.8% · +470%BRK.B0.8% · +30%BXMT0.8% · 0%IJS0.8% · +200%AAPL0.8% · -77%NOVTU0.7% · +102%BX0.7% · +116%JPM0.7% · +4%BA0.7% · +5%WEC0.7% · newFCX0.7% · +29541000%ON0.7% · 0%DDOG0.7% · -29%MA0.7% · +872625%GH0.6% · +20%CRWD0.6% · +1035%TLT0.6% · +77%SBUX0.6% · +1023%CVS0.6% · +40%MSFT0.6% · +161%XLI0.6% · +8316200%B0.6% · +62%WMB0.6% · +10236750%TXN0.6% · +136%SNDK0.6% · +92%SNOW0.6% · -41%MRK0.6% · -1%OXY0.5% · -5%TGT0.5% · +346%FDX0.5% · -12%ORCL0.5% · newPLTR0.5% · newWFC0.5% · +317%AXP0.5% · +1955450%MHIFF0.5% · +33%CRM0.5% · +191%KWEB0.5% · +2324%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 29.6%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 19, 2026.

Assets Under Management
$5.98B
Discretionary
$5.98B
Employees
51
Accounts
3
Address
101 MONTGOMERY STREET
SUITE 700
SAN FRANCISCO, CA 94104
Phone
(415) 445-6646
Website
This firm reports 1 disclosure item on its registration.
Name Title / Status Ownership Type
ARMSTRONG, JILL, CAROLINE ControlCHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER, LIMITED PARTNER
since Sep 2000
10–25%Individual
BARTLETT, WILLIAM, FREDERICK ControlCHIEF EXECUTIVE OFFICER, LIMITED PARTNER
since May 1996
25–50%Individual
HUTCHISON, STEPHEN, DANIEL ControlPRINCIPAL PORTFOLIO MANAGER, LIMITED PARTNER
since Aug 2003
25–50%Individual
PARALLAX VOLATILITY ADVISERS GP, LLC ControlGENERAL PARTNER
since Oct 2014
Less than 5%Domestic Entity
ARMSTRONG, JILL, CAROLINE Control
Indirect owner via PARALLAX VOLATILITY ADVISERS GP, LLC
MANAGER, MEMBER
since Nov 2016
General partner, trustee or managerIndividual
BARTLETT, WILLIAM, FREDERICK Control
Indirect owner via PARALLAX VOLATILITY ADVISERS GP, LLC
MANAGER, MEMBER
since Sep 2014
25–50%Individual
HUTCHISON, STEPHEN, DANIEL Control
Indirect owner via PARALLAX VOLATILITY ADVISERS GP, LLC
MANAGER, MEMBER
since Sep 2014
25–50%Individual
Ownership & leadership changes · 11 filings with changes since Feb 14, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 25, 2025 filing
  • No longer listedCHEN, EASTON, KEITH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2018
  • ChangedARMSTRONG, JILL, CAROLINE · title CHIEF OPERATING OFFICER, LIMITED PARTNER → CHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER, LIMITED PARTNER
Oct 29, 2024 filing
  • No longer listedSOLLERS, YONGJIA, JIANG · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Feb 2022
May 8, 2024 filing
  • ChangedARMSTRONG, JILL, CAROLINE · title MANAGER, CHIEF OPERATING OFFICER, MEMBER → CHIEF OPERATING OFFICER, LIMITED PARTNER
  • ChangedBARTLETT, WILLIAM, FREDERICK · title MANAGER, CHIEF EXECUTIVE OFFICER, MEMBER → CHIEF EXECUTIVE OFFICER, LIMITED PARTNER
  • ChangedHUTCHISON, STEPHEN, DANIEL · title MANAGER, PRINCIPAL PORTFOLIO MANAGER, MEMBER → PRINCIPAL PORTFOLIO MANAGER, LIMITED PARTNER
Mar 26, 2024 filing
  • AddedSOLLERS, YONGJIA, JIANG · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Jan 19, 2018 filing
  • AddedCHEN, EASTON, KEITH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedARMSTRONG, JILL, CAROLINE · title CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, MEMBER → MANAGER, CHIEF OPERATING OFFICER, MEMBER
Mar 29, 2017 filing
  • AddedARMSTRONG, JILL, CAROLINE · MANAGER, MEMBER · General partner, trustee or manager · indirect via PARALLAX VOLATILITY ADVISERS GP, LLC · control person
Mar 24, 2016 filing
  • No longer listedLOW, ROGER, MORTON · MANAGER, OWNER · 75% or more · indirect via RMLOW ENTERPRISES, LLC · listed since Jan 2012
  • No longer listedRMLOW ENTERPRISES, LLC · MEMBER · Less than 5% · listed since Jan 2012
Mar 27, 2015 filing
  • ChangedRMLOW ENTERPRISES, LLC · ownership 10–25% → Less than 5%
Oct 27, 2014 filing
  • AddedBARTLETT, WILLIAM, FREDERICK · MANAGER, MEMBER · 25–50% · indirect via PARALLAX VOLATILITY ADVISERS GP, LLC · control person
  • AddedHUTCHISON, STEPHEN, DANIEL · MANAGER, MEMBER · 25–50% · indirect via PARALLAX VOLATILITY ADVISERS GP, LLC · control person
  • AddedPARALLAX VOLATILITY ADVISERS GP, LLC · GENERAL PARTNER · Less than 5% · control person
Jun 11, 2013 filing
  • No longer listedMACFARLAND, THOMAS, J · CHIEF INFORMATION TECHNOLOGY OFFICER, MEMBER · 10–25% · control person · listed since Aug 2001
Older changes (2 more filings)
Mar 28, 2013 filing
  • ChangedBARTLETT, WILLIAM, FREDERICK · ownership 10–25% → 25–50%
  • ChangedHUTCHISON, STEPHEN, DANIEL · ownership 10–25% → 25–50%
Feb 14, 2012 filing (earliest on record)
  • ListedARMSTRONG, JILL, CAROLINE · CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, MEMBER · 10–25% · control person
  • ListedBARTLETT, WILLIAM, FREDERICK · MANAGER, CHIEF EXECUTIVE OFFICER, MEMBER · 10–25% · control person
  • ListedHUTCHISON, STEPHEN, DANIEL · MANAGER, PRINCIPAL PORTFOLIO MANAGER, MEMBER · 10–25% · control person
  • ListedLOW, ROGER, MORTON · MANAGER, OWNER · 75% or more · indirect via RMLOW ENTERPRISES, LLC
  • ListedMACFARLAND, THOMAS, J · CHIEF INFORMATION TECHNOLOGY OFFICER, MEMBER · 10–25% · control person
  • ListedRMLOW ENTERPRISES, LLC · MEMBER · 10–25%

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 243 →

Top Trims

Show all 176 →

New Positions

Show all 181 →

Exited Positions

Show all 145 →

Parallax Volatility Advisers, L.P. Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $19.51B 33.14% 26,122,000 SH
2 INVESCO QQQ TR Call QQQ 46090E103 $6.11B 10.38% 8,297,700 SH
3 STATE STR SPDR S&P 500 ETF T Call SPY 78462F103 $3.40B 5.77% 4,551,000 SH
4 INVESCO QQQ TR Put QQQ 46090E103 $3.01B 5.12% 4,092,300 SH
5 ISHARES TR Put IWM 464287655 $1.52B 2.58% 5,055,600 SH
6 SPDR GOLD TR Call GLD 78463V107 $813.8M 1.38% 2,209,000 SH
7 SELECT SECTOR SPDR TR Put XLF 81369Y605 $688.9M 1.17% 12,850,500 SH
8 NVIDIA CORPORATION Put NVDA 67066G104 $601.5M 1.02% 3,006,100 SH
9 VANECK ETF TRUST Call SMH 92189F676 $568.2M 0.97% 866,300 SH
10 VANECK ETF TRUST Put SMH 92189F676 $559.3M 0.95% 852,700 SH
11 SELECT SECTOR SPDR TR Call XLF 81369Y605 $538.7M 0.92% 10,047,600 SH
12 ISHARES TR Call IWM 464287655 $468.6M 0.80% 1,559,700 SH
13 MICRON TECHNOLOGY INC Put MU 595112103 $390.5M 0.66% 338,300 SH
14 ADVANCED MICRO DEVICES INC Put AMD 007903107 $348.9M 0.59% 600,600 SH
15 ISHARES TR Put EFA 464287465 $309.1M 0.53% 2,975,500 SH
16 TESLA INC Call TSLA 88160R101 $286.8M 0.49% 682,000 SH
17 SPDR GOLD TR Put GLD 78463V107 $254.7M 0.43% 691,500 SH
18 TESLA INC Put TSLA 88160R101 $250.6M 0.43% 595,900 SH
19 NVIDIA CORPORATION Call NVDA 67066G104 $236.0M 0.40% 1,179,700 SH
20 NVIDIA CORPORATION NVDA 67066G104 $231.6M 0.39% 1,157,378 SH
21 ISHARES TR Call TLT 464287432 $226.1M 0.38% 2,616,100 SH
22 SELECT SECTOR SPDR TR Put XLE 81369Y506 $223.4M 0.38% 4,205,800 SH
23 ISHARES TR Call HYG 464288513 $220.2M 0.37% 2,753,700 SH
24 ISHARES TR Put EEM 464287234 $219.3M 0.37% 3,206,400 SH
25 NEXTERA ENERGY INC NEEPV 65339F655 $207.2M 0.35% 2,360,663 SH
26 ALPHABET INC Put GOOGL 02079K305 $205.8M 0.35% 575,800 SH
27 AMAZON COM INC Put AMZN 023135106 $195.6M 0.33% 820,800 SH
28 SELECT SECTOR SPDR TR Put XLI 81369Y704 $192.8M 0.33% 1,041,100 SH
29 WALMART INC Put WMT 931142103 $183.4M 0.31% 1,619,100 SH
30 ADVANCED MICRO DEVICES INC Call AMD 007903107 $176.9M 0.30% 304,600 SH
31 AMERICAN AIRLINES GROUP INC Put AAL 02376R102 $172.9M 0.29% 9,569,400 SH
32 BOEING CO Put BA 097023105 $172.9M 0.29% 798,700 SH
33 TAKE-TWO INTERACTIVE SOFTWAR Put TTWO 874054109 $167.3M 0.28% 669,400 SH
34 META PLATFORMS INC Put META 30303M102 $166.6M 0.28% 295,800 SH
35 APPLE INC Call AAPL 037833100 $164.4M 0.28% 568,200 SH
36 SPDR SERIES TRUST Put KRE 78464A698 $161.7M 0.27% 2,160,200 SH
37 ISHARES TR Call EFA 464287465 $158.3M 0.27% 1,523,900 SH
38 VISA INC Call V 92826C839 $157.2M 0.27% 458,300 SH
39 ISHARES SILVER TR Call SLV 46428Q109 $141.5M 0.24% 2,645,800 SH
40 ISHARES BITCOIN TRUST ETF Call IBIT 46438F101 $134.2M 0.23% 4,032,100 SH
41 INTEL CORP Put INTC 458140100 $132.5M 0.23% 949,100 SH
42 ORACLE CORP Put ORCL 68389X105 $122.6M 0.21% 836,400 SH
43 VANECK ETF TRUST Put GDX 92189F106 $121.3M 0.21% 1,607,200 SH
44 ISHARES BITCOIN TRUST ETF Put IBIT 46438F101 $119.5M 0.20% 3,590,800 SH
45 BRINKER INTL INC Put EAT 109641100 $119.4M 0.20% 710,900 SH
46 SELECT SECTOR SPDR TR Call XLE 81369Y506 $118.4M 0.20% 2,228,400 SH
47 MARVELL TECHNOLOGY INC Put MRVL 573874104 $114.1M 0.19% 383,100 SH
48 BERKSHIRE HATHAWAY INC DEL Call BRK.B 084670702 $110.8M 0.19% 221,500 SH
49 NETFLIX INC. Put NFLX 64110L106 $110.3M 0.19% 1,544,700 SH
50 CHIPOTLE MEXICAN GRILL INC Put CMG 169656105 $107.3M 0.18% 3,155,200 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $58.87B 1,502 0001172661-26-003723
2026-03-31 2026-05-15 $38.56B 1,428 0001172661-26-002271
2025-12-31 2026-02-17 $50.70B 1,605 0001172661-26-001067
2025-09-30 2025-11-14 $65.94B 1,573 0001172661-25-005017
Filer Information
Address
101 MONTGOMERY STREET
SUITE 700
SAN FRANCISCO, CA 94104
Phone
(415) 445-6646
Filing Manager
Parallax Volatility Advisers, L.P.
San Francisco, CA
Signatory
Jill Armstrong
Chief Compliance Officer