Parallax Volatility Advisers, L.P.
Institutional investor · Portfolio as of Q3 2025
Top Holdings1,573 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 33.5M | $22.3B | 33.9% | — | — | — | Increased — |
INVESCO QQQ TRUST SERIES 1 CL USD INC | 7.1M | $4.2B | 6.4% | — | — | — | Increased — |
INVESCO QQQ TRUST SERIES 1 CL USD INC | 3.5M | $2.1B | 3.2% | — | — | — | Increased — |
ISHARES RUSSELL 2000 ETF ETF | 7.9M | $1.9B | 2.9% | — | — | — | Increased — |
STATE STREET SPDR S&P 500 ETF TRUST CL USD INC | 2.3M | $1.6B | 2.4% | — | — | — | Increased — |
SPDR GOLD TRUST | 3.9M | $1.4B | 2.1% | — | — | — | Increased — |
TESLA INC | 2.4M | $1.1B | 1.6% | — | — | — | Increased — |
NVIDIA CORP | 5.4M | $1B | 1.5% | — | — | — | Decreased — |
FINANCIAL SELECT SECTOR SPDR | 15.7M | $846.5M | 1.3% | — | — | — | Increased — |
META PLATFORMS INC-CLASS A | 1M | $750.8M | 1.1% | — | — | — | Decreased — |
ISHARES RUSSELL 2000 ETF ETF | 2.8M | $672.5M | 1.0% | — | — | — | Increased — |
BROADCOM INC | 1.7M | $546.6M | 0.8% | — | — | — | Increased — |
META PLATFORMS INC-CLASS A | 741,300 | $544.4M | 0.8% | — | — | — | Decreased — |
SPDR GOLD TRUST | 1.4M | $501.2M | 0.8% | — | — | — | Increased — |
NVIDIA CORP | 2.4M | $444.5M | 0.7% | — | — | — | Decreased — |
FINANCIAL SELECT SECTOR SPDR | 8M | $433.5M | 0.7% | — | — | — | Increased — |
APPLE INC | 1.7M | $432.4M | 0.7% | — | — | — | Increased — |
STRATEGY INC | 1.3M | $409.9M | 0.6% | — | — | — | Increased — |
TAIWAN SEMICONDUCTOR SPONSORED ADR /1 ADR REPS 5 ORD SHS/ | 1.4M | $391.3M | 0.6% | — | — | — | Decreased — |
VANECK SEMICONDUCTOR ETF | 1.1M | $354.8M | 0.5% | — | — | — | Increased — |
Parallax Volatility Advisers, L.P. manages $65.9B across 1573 positions as of Q3 2025. Top holdings: SPY (33.9%), QQQ (6.4%), QQQ (3.2%). Fund DNA: Diversified Scout. HoldingsIntel Rating: 2/5.0.
Active quarter - 188 new positions, 139 exits, 159 increased. No standout high-conviction moves this quarter. Portfolio: $65.9B across 1573 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer