Parallax Volatility Advisers, L.P. Q4 2025 Filing
Filed February 17, 2026
Portfolio Value
$50.7T
Holdings
820
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (820 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF TR | 15,882,873 | $10.8T | 21.36% | Put |
| 2 | NDQINVESCO QQQ TR | 6,884,900 | $4.2T | 8.34% | Put |
| 3 | IWMISHARES TR | 6,660,866 | $1.6T | 3.23% | Put |
| 4 | TSLATESLA INC | 3,606,811 | $1.6T | 3.20% | Put |
| 5 | XLFSELECT SECTOR SPDR TR | 28,951,601 | $1.6T | 3.13% | Put |
| 6 | NVDANVIDIA CORPORATION | 6,865,700 | $1.3T | 2.52% | Put |
| 7 | METAMETA PLATFORMS INC | 1,800,500 | $1.2T | 2.34% | Put |
| 8 | GQ9SPDR GOLD TR | 2,817,677 | $1.1T | 2.20% | Put |
| 9 | GOOGLALPHABET INC | 2,476,000 | $774.0B | 1.53% | Put |
| 10 | AAPLAPPLE INC | 2,843,300 | $772.0B | 1.52% | Put |
| 11 | AVGOBROADCOM INC | 1,825,118 | $630.0B | 1.24% | Put |
| 12 | AXPAMERICAN EXPRESS CO | 1,568,283 | $579.0B | 1.14% | Put |
| 13 | SMHVANECK ETF TRUST | 1,579,100 | $567.0B | 1.12% | Put |
| 14 | AMZNAMAZON COM INC | 2,173,016 | $501.0B | 0.99% | Put |
| 15 | MSFTMICROSOFT CORP | 1,002,400 | $483.0B | 0.95% | Put |
| 16 | SLVISHARES SILVER TR | 7,056,829 | $453.0B | 0.89% | Put |
| 17 | ORCLORACLE CORP | 2,313,589 | $450.0B | 0.89% | Put |
| 18 | BABOEING CO | 1,772,900 | $384.0B | 0.76% | Put |
| 19 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 1,182,552 | $358.0B | 0.71% | Put |
| 20 | EEMISHARES TR | 6,158,800 | $336.0B | 0.66% | Put |
| 21 | BABAALIBABA GROUP HLDG LTD | 2,247,270 | $328.0B | 0.65% | Put |
| 22 | EFAISHARES TR | 3,415,500 | $327.0B | 0.64% | Put |
| 23 | VVISA INC | 918,000 | $321.0B | 0.63% | Put |
| 24 | JPMJPMORGAN CHASE & CO. | 987,475 | $317.0B | 0.63% | Put |
| 25 | CVNACARVANA CO | 740,200 | $312.0B | 0.62% | Put |
| 26 | GOOGALPHABET INC | 976,300 | $305.0B | 0.60% | Put |
| 27 | BRK/BBERKSHIRE HATHAWAY INC DEL | 602,350 | $301.0B | 0.59% | Put |
| 28 | TRVCCITIGROUP INC | 2,565,593 | $298.0B | 0.59% | Put |
| 29 | MIGASTRATEGY INC | 1,969,935 | $298.0B | 0.59% | Put |
| 30 | BACBANK AMERICA CORP | 5,173,125 | $282.0B | 0.56% | Put |
| 31 | XLESELECT SECTOR SPDR TR | 6,262,589 | $278.0B | 0.55% | Put |
| 32 | NFLXNETFLIX INC | 2,934,574 | $273.0B | 0.54% | Put |
| 33 | COINCOINBASE GLOBAL INC | 1,199,433 | $269.0B | 0.53% | Put |
| 34 | UBERUBER TECHNOLOGIES INC | 3,049,404 | $247.0B | 0.49% | Put |
| 35 | IBITISHARES BITCOIN TRUST ETF | 4,920,757 | $242.0B | 0.48% | Put |
| 36 | APOAPOLLO GLOBAL MGMT INC | 1,636,300 | $236.0B | 0.47% | Put |
| 37 | CRWVCOREWEAVE INC | 3,300,608 | $235.0B | 0.46% | Put |
| 38 | MUMICRON TECHNOLOGY INC | 801,795 | $228.0B | 0.45% | Put |
| 39 | AMDADVANCED MICRO DEVICES INC | 1,057,101 | $226.0B | 0.45% | Put |
| 40 | AALAMERICAN AIRLS GROUP INC | 14,612,014 | $223.0B | 0.44% | Put |
| 41 | HOODROBINHOOD MKTS INC | 1,923,398 | $216.0B | 0.43% | Put |
| 42 | HYGISHARES TR | 2,596,695 | $208.0B | 0.41% | Put |
| 43 | UNHUNITEDHEALTH GROUP INC | 605,900 | $199.0B | 0.39% | Put |
| 44 | SNOWSNOWFLAKE INC | 884,773 | $193.0B | 0.38% | Put |
| 45 | DWDMORGAN STANLEY | 1,001,497 | $176.0B | 0.35% | Put |
| 46 | VSTVISTRA CORP | 1,079,021 | $173.0B | 0.34% | Put |
| 47 | GEVGE VERNOVA INC | 264,228 | $171.0B | 0.34% | Put |
| 48 | QCOMQUALCOMM INC | 984,900 | $167.0B | 0.33% | Put |
| 49 | WFCWELLS FARGO CO NEW | 1,812,877 | $167.0B | 0.33% | Put |
| 50 | TTWOTAKE-TWO INTERACTIVE SOFTWAR | 643,547 | $163.0B | 0.32% | Put |
| 51 | PLTRPALANTIR TECHNOLOGIES INC | 919,108 | $162.0B | 0.32% | Put |
| 52 | ABNBAIRBNB INC | 1,183,102 | $160.0B | 0.32% | Put |
| 53 | GSGOLDMAN SACHS GROUP INC | 183,676 | $160.0B | 0.32% | Put |
| 54 | XOMEXXON MOBIL CORP | 1,323,900 | $158.0B | 0.31% | Put |
| 55 | ARMARM HOLDINGS PLC | 1,450,770 | $157.0B | 0.31% | Put |
| 56 | DALDELTA AIR LINES INC DEL | 2,209,283 | $153.0B | 0.30% | Put |
| 57 | RCLROYAL CARIBBEAN GROUP | 543,800 | $151.0B | 0.30% | Put |
| 58 | UALUNITED AIRLS HLDGS INC | 1,362,392 | $151.0B | 0.30% | Put |
| 59 | VRTVERTIV HOLDINGS CO | 938,650 | $150.0B | 0.30% | Put |
| 60 | PDDPDD HOLDINGS INC | 1,324,404 | $149.0B | 0.29% | Put |
| 61 | NETCLOUDFLARE INC | 766,397 | $149.0B | 0.29% | Put |
| 62 | WMTWALMART INC | 1,324,921 | $146.0B | 0.29% | Put |
| 63 | INTCINTEL CORP | 3,850,500 | $141.0B | 0.28% | Put |
| 64 | GEGE AEROSPACE | 450,216 | $137.0B | 0.27% | Put |
| 65 | XLISELECT SECTOR SPDR TR | 878,382 | $135.0B | 0.27% | Put |
| 66 | LVLNSPDR SERIES TRUST | 2,071,001 | $133.0B | 0.26% | Put |
| 67 | IBMINTERNATIONAL BUSINESS MACHS | 428,988 | $125.0B | 0.25% | Put |
| 68 | TLTISHARES TR | 1,388,531 | $119.0B | 0.23% | Put |
| 69 | GDXVANECK ETF TRUST | 1,372,290 | $116.0B | 0.23% | Put |
| 70 | SPOTSPOTIFY TECHNOLOGY S A | 199,700 | $115.0B | 0.23% | Put |
| 71 | DDOGDATADOG INC | 851,214 | $114.0B | 0.22% | Put |
| 72 | KWEBKRANESHARES TRUST | 3,380,549 | $113.0B | 0.22% | Put |
| 73 | CSCOCISCO SYS INC | 1,441,162 | $109.0B | 0.21% | Put |
| 74 | BKNGBOOKING HOLDINGS INC | 20,400 | $109.0B | 0.21% | Put |
| 75 | XYZBLOCK INC | 1,667,900 | $108.0B | 0.21% | Put |
| 76 | XLUSELECT SECTOR SPDR TR | 2,559,783 | $107.0B | 0.21% | Put |
| 77 | CMGCHIPOTLE MEXICAN GRILL INC | 2,806,539 | $102.0B | 0.20% | Put |
| 78 | CCLCARNIVAL CORP | 3,371,900 | $102.0B | 0.20% | Put |
| 79 | FCXFREEPORT-MCMORAN INC | 1,989,600 | $100.0B | 0.20% | Put |
| 80 | WULFTERAWULF INC | 8,649,151 | $98.0B | 0.19% | Put |
| 81 | PANWPALO ALTO NETWORKS INC | 543,163 | $98.0B | 0.19% | Put |
| 82 | SOFISOFI TECHNOLOGIES INC | 3,748,200 | $97.0B | 0.19% | Put |
| 83 | AFRMAFFIRM HLDGS INC | 1,241,871 | $91.0B | 0.18% | Put |
| 84 | HDHOME DEPOT INC | 263,158 | $90.0B | 0.18% | Put |
| 85 | EATBRINKER INTL INC | 639,492 | $90.0B | 0.18% | Put |
| 86 | CVXCHEVRON CORP NEW | 577,422 | $86.0B | 0.17% | Put |
| 87 | PYPLPAYPAL HLDGS INC | 1,468,004 | $85.0B | 0.17% | Put |
| 88 | TPRTAPESTRY INC | 667,600 | $84.0B | 0.17% | Put |
| 89 | IRENIREN LIMITED | 2,225,000 | $83.0B | 0.16% | Put |
| 90 | NUNU HLDGS LTD | 4,918,700 | $81.0B | 0.16% | Put |
| 91 | SHOPSHOPIFY INC | 510,121 | $81.0B | 0.16% | Put |
| 92 | MDBMONGODB INC | 184,950 | $76.0B | 0.15% | Put |
| 93 | CRWDCROWDSTRIKE HLDGS INC | 164,059 | $75.0B | 0.15% | Put |
| 94 | OXYOCCIDENTAL PETE CORP | 1,805,149 | $73.0B | 0.14% | Put |
| 95 | MPMP MATERIALS CORP | 1,450,700 | $72.0B | 0.14% | Put |
| 96 | CEGCONSTELLATION ENERGY CORP | 209,376 | $72.0B | 0.14% | Put |
| 97 | SLBSLB LIMITED | 1,875,527 | $71.0B | 0.14% | Put |
| 98 | NEMNEWMONT CORP | 714,991 | $70.0B | 0.14% | Put |
| 99 | AMATAPPLIED MATLS INC | 278,600 | $70.0B | 0.14% | Put |
| 100 | FXIISHARES TR | 1,848,568 | $70.0B | 0.14% | Put |
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