Parallax Volatility Advisers, L.P.
Long book
$2.03B
Q1 2026
Positions
589
Top-10 weight
31%
concentration
Last quarter
+13.6%
SPY +14.8%
Turnover
55%
of book per quarter
Strategy in plain words
auto-generated from filingsParallax Volatility Advisers, L.P. is a quantitative fund whose holdings reflect models, not opinions, running a $2.03B US long book across 589 positions.
The portfolio is moderately concentrated (top 10 ≈ 31% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NEXTERA ENERGY INC, SS FINANCIAL SELECT SECTOR, APPLE INC, ALIBABA GROUP HOLDING-SP ADR, ORACLE CORP.
Over the last 9 quarters its long book ran on average 1.3pp per quarter ahead of the S&P 500, beating the index in 7 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+5.8%
Q2 2024
+5.9%
Q3 2024
+3.8%
Q4 2024
-4.1%
Q1 2025
+19.5%
Q2 2025
+9.6%
Q3 2025
+1.4%
Q4 2025
-3.7%
Q1 2026
+13.6%
Sector allocation
Technology 29%
Financials 22%
Utilities 13%
Industrials 11%
Energy 9%
Services media 4%
Healthcare 3%
Consumer discretionary 2%
Long book by quarter
What does Parallax Volatility own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NEE NEXTERA ENERGY INC | Utilities | 2.0M | $182.2M | 9.0% | New |
| AAPL APPLE INC | Technology | 309.6K | $78.6M | 3.9% | New |
| ORCL ORACLE CORP | Technology | 1.0M | $46.9M | 2.3% | New |
| NFLX NETFLIX INC | Services media | 375.7K | $35.9M | 1.8% | +108.1% |
| GOOGL ALPHABET INC-CL A | Technology | 114.6K | $33.0M | 1.6% | New |
| GS GOLDMAN SACHS GROUP INC | Financials | 33.4K | $30.9M | 1.5% | +6908.2% |
| CVX CHEVRON CORP | Energy | 163.0K | $30.3M | 1.5% | +215.7% |
| PEP PEPSICO INC | Consumer staples | 160.1K | $24.9M | 1.2% | +156.5% |
| C CITIGROUP INC | Financials | 187.9K | $24.7M | 1.2% | -40.4% |
| MU MICRON TECHNOLOGY INC | Technology | 70.9K | $24.0M | 1.2% | +563.4% |
| COP CONOCOPHILLIPS | Energy | 166.2K | $20.0M | 1.0% | +336.1% |
| FDX FEDEX CORP | Industrials | 50.3K | $19.9M | 1.0% | +111.8% |
| CRWV COREWEAVE INC-CL A | Technology | 165.0K | $19.0M | 0.9% | +25.7% |
| WDC WESTERN DIGITAL CORP | Technology | 68.5K | $18.5M | 0.9% | -29.6% |
| UBER UBER TECHNOLOGIES INC | Services media | 252.7K | $18.5M | 0.9% | +52.7% |
| BA BOEING CO/THE | Industrials | 82.9K | $18.2M | 0.9% | New |
| JPM JPMORGAN CHASE & CO | Financials | 58.0K | $18.2M | 0.9% | +12.1% |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 321.6K | $18.1M | 0.9% | +240.5% |
| MSTR STRATEGY INC | Financials | 110.1K | $18.0M | 0.9% | +177.0% |
| DHR DANAHER CORP | Technology | 89.5K | $17.4M | 0.9% | +853.3% |
| NKE NIKE INC -CL B | Other | 371.2K | $17.2M | 0.8% | +206.9% |
| CAT CATERPILLAR INC | Industrials | 23.0K | $16.6M | 0.8% | -21.1% |
| DVN DEVON ENERGY CORP | Energy | 358.6K | $16.4M | 0.8% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 33.3K | $15.9M | 0.8% | +992.2% |
| SNOW SNOWFLAKE INC | Technology | 100.8K | $15.2M | 0.7% | -4.7% |
| EQT EQT CORP | Energy | 263.2K | $15.0M | 0.7% | +174.1% |
| MRK MERCK & CO. INC. | Healthcare | 117.7K | $13.2M | 0.7% | +182.3% |
| GE GENERAL ELECTRIC | Industrials | 46.0K | $13.2M | 0.6% | -83.1% |
| PWR QUANTA SERVICES INC | Industrials | 21.7K | $13.2M | 0.6% | +400.6% |
| TTWO TAKE-TWO INTERACTIVE SOFTWRE | Technology | 62.5K | $12.3M | 0.6% | +773.9% |
| DDOG DATADOG INC - CLASS A | Technology | 98.1K | $11.6M | 0.6% | -54.6% |
| AAL AMERICAN AIRLINES GROUP INC | Industrials | 976.4K | $11.5M | 0.6% | +8.2% |
| GOOG ALPHABET INC-CL C | Technology | 39.6K | $11.4M | 0.6% | New |
| EXE EXPAND ENERGY CORP | Energy | 115.5K | $10.9M | 0.5% | +31.2% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 8.0K | $10.6M | 0.5% | +126.8% |
| ANET ARISTA NETWORKS INC | Technology | 86.3K | $10.6M | 0.5% | +120.9% |
| B BARRICK MINING CORP | Materials | 258.3K | $10.4M | 0.5% | +462.8% |
| VLO VALERO ENERGY CORP | Energy | 44.5K | $10.4M | 0.5% | +109.4% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 104.2K | $10.3M | 0.5% | +206.8% |
| BX BLACKSTONE INC | Financials | 78.1K | $10.0M | 0.5% | New |
| INTC INTEL CORP | Technology | 222.8K | $9.8M | 0.5% | New |
| F FORD MOTOR CO | Industrials | 763.4K | $9.8M | 0.5% | +215.4% |
| PANW PALO ALTO NETWORKS INC | Technology | 60.5K | $9.7M | 0.5% | -17.1% |
| NET CLOUDFLARE INC - CLASS A | Technology | 45.3K | $9.4M | 0.5% | -82.0% |
| NVDA NVIDIA CORP | Technology | 52.2K | $9.1M | 0.4% | New |
| VZ VERIZON COMMUNICATIONS INC | Communications | 173.9K | $8.7M | 0.4% | +340825.5% |
| CVS CVS HEALTH CORP | Healthcare | 112.0K | $8.7M | 0.4% | +1675.4% |
| WENN WEN ACQUISITION CORP-A | Financials | 828.9K | $8.5M | 0.4% | +445.2% |
| KOYN CSLM DIGITAL ASSET ACQU - A | Financials | 828.6K | $8.4M | 0.4% | New |
| NOVT NOVANTA INC | Technology | 147.7K | $7.9M | 0.4% | +210.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 1428 | $38.56B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 1605 | $50.70B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 1573 | $65.94B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 1527 | $44.36B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 1518 | $36.92B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 1989 | $51.55B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 1989 | $54.94B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 1943 | $46.45B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 1762 | $44.66B | canonical | SEC ↗ |
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