Parallax Volatility Advisers, L.P. Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$44.4B

Holdings

807

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (807 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR	15,303,300	$9.5B	21.32%	Put
2	NDQINVESCO QQQ TR	8,525,100	$4.7B	10.60%	Put
3	IWMISHARES TR	6,893,800	$1.5B	3.35%	Put
4	NVDANVIDIA CORPORATION	9,289,449	$1.5B	3.30%	Put
5	METAMETA PLATFORMS INC	1,963,911	$1.4B	3.27%	Put
6	TSLATESLA INC	3,063,600	$973.2M	2.19%	Put
7	XLFSELECT SECTOR SPDR TR	16,498,248	$864.0M	1.95%	Put
8	BYND 0 03/15/27BEYOND MEAT INC	10,400,000	$826.8M	1.86%
9	NFLXNETFLIX INC	439,784	$588.9M	1.33%	Put
10	AVGOBROADCOM INC	1,900,000	$523.7M	1.18%	Put
11	MIGAMICROSTRATEGY INC	1,288,800	$521.0M	1.17%	Put
12	AAPLAPPLE INC	2,503,816	$513.7M	1.16%	Put
13	EEMISHARES TR	10,213,648	$492.7M	1.11%	Put
14	TSMTAIWAN SEMICONDUCTOR MFG LTD	2,074,100	$469.8M	1.06%	Put
15	MSFTMICROSOFT CORP	926,754	$461.0M	1.04%	Put
16	TLRYEURTILRAY BRANDS INC	1,105,300	$458.0M	1.03%	Call
17	HYGISHARES TR	5,507,901	$444.2M	1.00%	Put
18	BABOEING CO	1,916,500	$401.6M	0.91%	Put
19	COINCOINBASE GLOBAL INC	1,133,800	$397.4M	0.90%	Put
20	SMHVANECK ETF TRUST	1,375,357	$383.6M	0.86%	Put
21	GQ9SPDR GOLD TR	1,222,900	$372.8M	0.84%	Put
22	AXPAMERICAN EXPRESS CO	1,029,810	$328.5M	0.74%	Put
23	GOOGLALPHABET INC	1,861,321	$328.0M	0.74%	Put
24	TRVCCITIGROUP INC	3,476,873	$296.0M	0.67%	Put
25	RCLROYAL CARIBBEAN GROUP	931,900	$291.8M	0.66%	Put
26	CVNACARVANA CO	850,000	$286.4M	0.65%	Put
27	JPMJPMORGAN CHASE & CO.	970,114	$281.2M	0.63%	Put
28	VVISA INC	758,900	$269.4M	0.61%	Put
29	BACBANK AMERICA CORP	5,339,800	$252.7M	0.57%	Put
30	ARMARM HOLDINGS PLC	1,498,226	$242.3M	0.55%	Put
31	UBERUBER TECHNOLOGIES INC	2,491,200	$232.4M	0.52%	Put
32	WFCWELLS FARGO CO NEW	2,868,934	$229.9M	0.52%	Put
33	DWDMORGAN STANLEY	1,559,100	$219.6M	0.50%	Put
34	XLESELECT SECTOR SPDR TR	2,534,442	$214.9M	0.48%	Put
35	LVLNSPDR SERIES TRUST	3,524,503	$209.3M	0.47%	Put
36	AMZNAMAZON COM INC	951,821	$208.8M	0.47%	Put
37	TLTISHARES TR	2,307,767	$203.7M	0.46%	Put
38	GSGOLDMAN SACHS GROUP INC	286,100	$202.5M	0.46%	Put
39	AMDADVANCED MICRO DEVICES INC	1,395,570	$198.0M	0.45%	Put
40	GEGE AEROSPACE	756,945	$194.8M	0.44%	Put
41	BRK/BBERKSHIRE HATHAWAY INC DEL	400,514	$194.6M	0.44%	Put
42	APOAPOLLO GLOBAL MGMT INC	1,337,600	$189.8M	0.43%	Put
43	UALUNITED AIRLS HLDGS INC	2,376,508	$189.2M	0.43%	Put
44	DALDELTA AIR LINES INC DEL	3,742,213	$184.0M	0.41%	Put
45	ABNBAIRBNB INC	1,338,733	$177.2M	0.40%	Put
46	AALAMERICAN AIRLS GROUP INC	15,404,259	$173.1M	0.39%	Put
47	HOODROBINHOOD MKTS INC	1,807,509	$169.2M	0.38%	Put
48	BABAALIBABA GROUP HLDG LTD	1,491,960	$169.2M	0.38%	Put
49	QCOMQUALCOMM INC	1,054,400	$167.9M	0.38%	Put
50	SNOWSNOWFLAKE INC	740,900	$165.8M	0.37%	Put
51	PANWPALO ALTO NETWORKS INC	768,000	$157.2M	0.35%	Put
52	TVATEXAS VENTURES ACQUISITION I	559,301	$151.0M	0.34%
53	SPOTSPOTIFY TECHNOLOGY S A	194,400	$149.2M	0.34%	Put
54	PYPLPAYPAL HLDGS INC	1,946,674	$144.7M	0.33%	Put
55	VSTVISTRA CORP	733,900	$142.2M	0.32%	Put
56	GOOGALPHABET INC	795,010	$141.0M	0.32%	Put
57	XYZBLOCK INC	2,073,438	$140.8M	0.32%	Put
58	TACHTITAN ACQUISITION CORP	376,399	$139.3M	0.31%
59	WMTWALMART INC	1,336,700	$130.7M	0.29%	Put
60	XOMEXXON MOBIL CORP	1,206,169	$130.0M	0.29%	Put
61	FXIISHARES TR	3,511,100	$129.1M	0.29%	Put
62	AMTAMERICAN TOWER CORP NEW	578,400	$127.8M	0.29%	Put
63	MAMASTERCARD INCORPORATED	223,000	$125.3M	0.28%	Put
64	CCLCARNIVAL CORP	4,319,921	$121.5M	0.27%	Put
65	—INFLECTION PT ACQUISITION CO	300,000	$120.0M	0.27%
66	BKNGBOOKING HOLDINGS INC	20,500	$118.7M	0.27%	Put
67	IBITISHARES BITCOIN TRUST ETF	1,916,001	$117.3M	0.26%	Put
68	SCHWSCHWAB CHARLES CORP	1,260,700	$115.0M	0.26%	Put
69	MUMICRON TECHNOLOGY INC	899,000	$110.8M	0.25%	Put
70	GDXVANECK ETF TRUST	2,102,091	$109.4M	0.25%	Put
71	APPAPPLOVIN CORP	310,195	$108.6M	0.24%	Put
72	NETCLOUDFLARE INC	546,565	$105.4M	0.24%	Put
73	RTXRTX CORPORATION	714,500	$104.3M	0.24%	Put
74	JDJD.COM INC	3,156,598	$103.0M	0.23%	Put
75	CCOCAMECO CORP	1,375,300	$102.1M	0.23%	Put
76	XLISELECT SECTOR SPDR TR	685,073	$101.1M	0.23%	Put
77	MRVLMARVELL TECHNOLOGY INC	1,304,438	$101.0M	0.23%	Put
78	ORCLORACLE CORP	458,338	$100.2M	0.23%	Put
79	DISDISNEY WALT CO	807,502	$100.1M	0.23%	Put
80	CEGCONSTELLATION ENERGY CORP	309,300	$99.8M	0.23%	Put
81	PDDPDD HOLDINGS INC	932,400	$97.6M	0.22%	Put
82	UNHUNITEDHEALTH GROUP INC	281,177	$87.7M	0.20%	Put
83	CSCOCISCO SYS INC	1,238,171	$85.9M	0.19%	Put
84	CRWDCROWDSTRIKE HLDGS INC	168,319	$85.7M	0.19%	Put
85	EATBRINKER INTL INC	470,228	$84.8M	0.19%	Put
86	XLVSELECT SECTOR SPDR TR	626,515	$84.4M	0.19%	Put
87	GEVGE VERNOVA INC	151,261	$80.0M	0.18%	Put
88	CVXCHEVRON CORP NEW	556,525	$79.7M	0.18%	Put
89	BLKBLACKROCK INC	74,400	$78.1M	0.18%	Put
90	ALFCENTURION ACQUISITION CORP	258,507	$77.6M	0.17%
91	JNJJOHNSON & JOHNSON	507,300	$77.5M	0.17%	Put
92	PLTRPALANTIR TECHNOLOGIES INC	560,925	$76.5M	0.17%	Put
93	ADIANALOG DEVICES INC	318,192	$75.7M	0.17%	Put
94	COSTCOSTCO WHSL CORP NEW	74,940	$74.2M	0.17%	Put
95	WOLF*WOLFSPEED INC	185,000	$73.8M	0.17%	Put
96	INTCINTEL CORP	3,150,059	$70.6M	0.16%	Put
97	SLVISHARES SILVER TR	2,022,600	$66.4M	0.15%	Put
98	NKENIKE INC	918,492	$65.2M	0.15%	Put
99	KWEBKRANESHARES TRUST	1,897,100	$65.1M	0.15%	Put
100	UNPUNION PAC CORP	282,900	$65.1M	0.15%	Put

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