Parallax Volatility Advisers, L.P. Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$65.9B

Holdings

825

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (825 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR	35,878,200	$23.9B	36.25%	Put
2	NDQINVESCO QQQ TR	10,684,884	$6.4B	9.73%	Put
3	IWMISHARES TR	10,629,700	$2.6B	3.90%	Put
4	GQ9SPDR GOLD TR	5,873,977	$2.1B	3.17%	Put
5	NVDANVIDIA CORPORATION	8,511,702	$1.6B	2.41%	Put
6	METAMETA PLATFORMS INC	2,049,009	$1.5B	2.28%	Put
7	TSLATESLA INC	3,206,787	$1.4B	2.16%	Put
8	XLFSELECT SECTOR SPDR TR	23,760,701	$1.3B	1.94%	Put
9	AVGOBROADCOM INC	2,196,832	$724.8M	1.10%	Put
10	AAPLAPPLE INC	2,666,439	$679.0M	1.03%	Put
11	GOOGLALPHABET INC	2,603,461	$632.9M	0.96%	Put
12	AMZNAMAZON COM INC	2,631,782	$577.9M	0.88%	Put
13	SMHVANECK ETF TRUST	1,602,166	$522.9M	0.79%	Put
14	MIGASTRATEGY INC	1,496,400	$482.2M	0.73%	Put
15	TSMTAIWAN SEMICONDUCTOR MFG LTD	1,629,658	$455.1M	0.69%	Put
16	EEMISHARES TR	8,488,900	$453.3M	0.69%	Put
17	BABOEING CO	2,099,647	$453.2M	0.69%	Put
18	COINCOINBASE GLOBAL INC	1,256,500	$424.1M	0.64%	Put
19	MSFTMICROSOFT CORP	655,100	$339.3M	0.51%	Put
20	HYGISHARES TR	3,988,600	$323.8M	0.49%	Put
21	BABAALIBABA GROUP HLDG LTD	1,799,485	$321.6M	0.49%	Put
22	CVNACARVANA CO	829,900	$313.1M	0.47%	Put
23	ORCLORACLE CORP	1,063,845	$299.2M	0.45%	Put
24	RCLROYAL CARIBBEAN GROUP	906,400	$293.3M	0.44%	Put
25	VVISA INC	838,100	$286.1M	0.43%	Put
26	XLESELECT SECTOR SPDR TR	3,054,801	$272.9M	0.41%	Put
27	AXPAMERICAN EXPRESS CO	818,900	$272.0M	0.41%	Put
28	UBERUBER TECHNOLOGIES INC	2,623,400	$257.0M	0.39%	Put
29	NFLXNETFLIX INC	209,389	$251.0M	0.38%	Put
30	PLTRPALANTIR TECHNOLOGIES INC	1,313,124	$239.5M	0.36%	Put
31	UALUNITED AIRLS HLDGS INC	2,329,759	$224.8M	0.34%	Put
32	AMDADVANCED MICRO DEVICES INC	1,361,434	$220.3M	0.33%	Put
33	GOOGALPHABET INC	887,900	$216.2M	0.33%	Put
34	TRVCCITIGROUP INC	2,126,406	$215.8M	0.33%	Put
35	JPMJPMORGAN CHASE & CO.	674,397	$212.7M	0.32%	Put
36	BACBANK AMERICA CORP	4,048,272	$208.9M	0.32%	Put
37	QCOMQUALCOMM INC	1,241,200	$206.5M	0.31%	Put
38	HOODROBINHOOD MKTS INC	1,380,031	$197.6M	0.30%	Put
39	LVLNSPDR SERIES TRUST	3,091,601	$195.7M	0.30%	Put
40	AALAMERICAN AIRLS GROUP INC	16,400,733	$184.3M	0.28%	Put
41	GEGE AEROSPACE	610,182	$183.6M	0.28%	Put
42	DALDELTA AIR LINES INC DEL	3,142,412	$178.3M	0.27%	Put
43	BRK/BBERKSHIRE HATHAWAY INC DEL	342,779	$172.3M	0.26%	Put
44	INTCINTEL CORP	5,133,936	$172.2M	0.26%	Put
45	APOAPOLLO GLOBAL MGMT INC	1,289,400	$171.8M	0.26%	Put
46	ARMARM HOLDINGS PLC	1,196,044	$169.2M	0.26%	Put
47	DWDMORGAN STANLEY	1,015,061	$161.4M	0.24%	Put
48	ABNBAIRBNB INC	1,317,526	$160.0M	0.24%	Put
49	PDDPDD HOLDINGS INC	1,205,300	$159.3M	0.24%	Put
50	NETCLOUDFLARE INC	724,380	$155.4M	0.24%	Put
51	GSGOLDMAN SACHS GROUP INC	179,278	$142.8M	0.22%	Put
52	SPOTSPOTIFY TECHNOLOGY S A	201,900	$140.9M	0.21%	Put
53	VSTVISTRA CORP	717,206	$140.5M	0.21%	Put
54	CCLCARNIVAL CORP	4,694,394	$135.7M	0.21%	Put
55	WFCWELLS FARGO CO NEW	1,560,328	$130.8M	0.20%	Put
56	SNOWSNOWFLAKE INC	568,159	$128.1M	0.19%	Put
57	IBITISHARES BITCOIN TRUST ETF	1,964,582	$127.7M	0.19%	Put
58	CRWDCROWDSTRIKE HLDGS INC	259,180	$127.1M	0.19%	Put
59	XOMEXXON MOBIL CORP	1,121,000	$126.4M	0.19%	Put
60	KWEBKRANESHARES TRUST	2,975,100	$125.0M	0.19%	Put
61	XLISELECT SECTOR SPDR TR	798,676	$123.2M	0.19%	Put
62	PYPLPAYPAL HLDGS INC	1,810,563	$121.4M	0.18%	Put
63	SMCISUPER MICRO COMPUTER INC	2,470,108	$118.4M	0.18%	Put
64	IRENIREN LIMITED	2,489,000	$116.8M	0.18%	Put
65	MARAMARA HOLDINGS INC	6,302,450	$115.1M	0.17%	Put
66	GEVGE VERNOVA INC	184,837	$113.7M	0.17%	Put
67	BKNGBOOKING HOLDINGS INC	20,400	$110.1M	0.17%	Put
68	MUMICRON TECHNOLOGY INC	651,694	$109.0M	0.17%	Put
69	GDXVANECK ETF TRUST	1,413,149	$108.0M	0.16%	Put
70	PANWPALO ALTO NETWORKS INC	506,508	$103.1M	0.16%	Put
71	CCOCAMECO CORP	1,164,200	$97.6M	0.15%	Put
72	MRVLMARVELL TECHNOLOGY INC	1,160,536	$97.6M	0.15%	Put
73	EFAISHARES TR	1,015,822	$94.8M	0.14%	Put
74	XLUSELECT SECTOR SPDR TR	1,083,401	$94.5M	0.14%	Put
75	MPMP MATERIALS CORP	1,395,700	$93.6M	0.14%	Put
76	SLVISHARES SILVER TR	2,199,800	$93.2M	0.14%	Put
77	CRWVCOREWEAVE INC	680,300	$93.1M	0.14%	Put
78	UNHUNITEDHEALTH GROUP INC	267,457	$92.4M	0.14%	Put
79	KOCOCA COLA CO	1,390,181	$92.2M	0.14%	Put
80	XYZBLOCK INC	1,271,083	$91.9M	0.14%	Put
81	APPAPPLOVIN CORP	124,102	$89.2M	0.14%	Put
82	CRMSALESFORCE INC	369,963	$87.7M	0.13%	Put
83	GHGUARDANT HEALTH INC	1,400,000	$87.5M	0.13%	Put
84	MAMASTERCARD INCORPORATED	150,300	$85.5M	0.13%	Put
85	CATCATERPILLAR INC	177,100	$84.5M	0.13%	Put
86	AFRMAFFIRM HLDGS INC	1,153,583	$84.3M	0.13%	Put
87	RIOTRIOT PLATFORMS INC	4,202,424	$80.0M	0.12%	Put
88	DISDISNEY WALT CO	691,641	$79.2M	0.12%	Put
89	CSCOCISCO SYS INC	1,114,600	$76.3M	0.12%	Put
90	TTWOTAKE-TWO INTERACTIVE SOFTWAR	294,700	$76.1M	0.12%	Put
91	AMTAMERICAN TOWER CORP NEW	393,200	$75.6M	0.11%	Put
92	TPRTAPESTRY INC	663,016	$75.1M	0.11%	Put
93	RDDTREDDIT INC	321,300	$73.9M	0.11%	Call
94	TMUST-MOBILE US INC	305,164	$73.1M	0.11%	Put
95	SCHWSCHWAB CHARLES CORP	753,448	$71.9M	0.11%	Put
96	ASMLASML HOLDING N V	73,384	$71.0M	0.11%	Put
97	EATBRINKER INTL INC	560,682	$71.0M	0.11%	Put
98	NBISNEBIUS GROUP N.V.	623,629	$70.0M	0.11%	Put
99	STTSTATE STR CORP	595,500	$69.1M	0.10%	Call
100	JDJD.COM INC	1,924,147	$67.3M	0.10%	Put

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