Parallax Volatility Advisers, L.P. Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$50.7B

Holdings

820

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (820 positions)

#	Stock	Shares	Value	% Portfolio	Type
201	TEVATEVA PHARMACEUTICAL INDS LTD	795,008	$23.0M	0.05%	Put
202	UPSUNITED PARCEL SERVICE INC	243,700	$23.0M	0.05%	Put
203	SBUXSTARBUCKS CORP	279,519	$23.0M	0.05%	Put
204	DISDISNEY WALT CO	214,351	$23.0M	0.05%	Put
205	RITMRITHM CAPITAL CORP	2,230,000	$23.0M	0.05%	Put
206	SMTCSEMTECH CORP	319,000	$23.0M	0.05%	Put
207	RGLDROYAL GOLD INC	105,000	$23.0M	0.05%	Put
208	RSPINVESCO EXCHANGE TRADED FD T	129,865	$23.0M	0.05%	Put
209	GEGGEO GROUP INC NEW	1,420,100	$22.0M	0.04%	Put
210	OKLOOKLO INC	320,584	$22.0M	0.04%	Put
211	SPOT 0 03/15/26SPOTIFY USA INC	20,000,000	$22.0M	0.04%
212	JBLJABIL INC	104,586	$22.0M	0.04%	Put
213	NBRNABORS INDUSTRIES LTD	399,600	$21.0M	0.04%	Put
214	ASHRDBX ETF TR	673,559	$21.0M	0.04%	Put
215	BTDRBITDEER TECHNOLOGIES GROUP	1,930,717	$21.0M	0.04%	Put
216	RIORIO TINTO PLC	267,900	$21.0M	0.04%	Put
217	ENPHENPHASE ENERGY INC	678,337	$21.0M	0.04%	Put
218	DGDOLLAR GEN CORP NEW	164,900	$21.0M	0.04%	Put
219	EQTEQT CORP	420,849	$21.0M	0.04%	Put
220	COPCONOCOPHILLIPS	240,497	$21.0M	0.04%	Put
221	URAGLOBAL X FDS	509,901	$20.0M	0.04%	Put
222	LUVSOUTHWEST AIRLS CO	522,868	$20.0M	0.04%	Put
223	BXMT 5.5 03/15/27BLACKSTONE MORTGAGE TRUST IN	20,950,000	$20.0M	0.04%
224	TMOTHERMO FISHER SCIENTIFIC INC	37,216	$20.0M	0.04%	Put
225	IIPRINNOVATIVE INDL PPTYS INC	424,800	$20.0M	0.04%	Put
226	KRKROGER CO	331,938	$20.0M	0.04%	Put
227	AAALCOA CORP	412,879	$20.0M	0.04%	Put
228	DJTTRUMP MEDIA & TECHNOLOGY GRO	1,499,864	$19.0M	0.04%	Put
229	RBLXROBLOX CORP	242,896	$19.0M	0.04%	Put
230	DTEDTE ENERGY CO	150,000	$19.0M	0.04%	Call
231	EOGEOG RES INC	196,683	$19.0M	0.04%	Put
232	DARDARLING INGREDIENTS INC	552,500	$19.0M	0.04%	Put
233	ABNB 0 03/15/26AIRBNB INC	20,000,000	$19.0M	0.04%
234	4I1PHILIP MORRIS INTL INC	127,400	$19.0M	0.04%	Put
235	HCAHCA HEALTHCARE INC	42,900	$19.0M	0.04%	Put
236	EXEEXPAND ENERGY CORPORATION	180,495	$19.0M	0.04%	Put
237	WEC 4.375 06/01/29WEC ENERGY GROUP INC	16,457,000	$19.0M	0.04%
238	PMTPENNYMAC MTG INVT TR	1,465,200	$18.0M	0.04%	Put
239	PNCPNC FINL SVCS GROUP INC	90,236	$18.0M	0.04%	Put
240	UNFIUNITED NAT FOODS INC	560,000	$18.0M	0.04%	Put
241	DEDEERE & CO	40,485	$18.0M	0.04%	Put
242	ICEINTERCONTINENTAL EXCHANGE IN	115,671	$18.0M	0.04%	Put
243	MOALTRIA GROUP INC	329,362	$18.0M	0.04%	Put
244	FSLRFIRST SOLAR INC	73,200	$18.0M	0.04%	Put
245	DYHTARGET CORP	197,000	$18.0M	0.04%	Put
246	PMT 5.5 03/15/26PENNYMAC CORP	18,000,000	$17.0M	0.03%
247	GHGUARDANT HEALTH INC	170,000	$17.0M	0.03%	Put
248	IM8NINSMED INC	104,190	$17.0M	0.03%	Put
249	TDTORONTO DOMINION BK ONT	195,000	$17.0M	0.03%	Put
250	CELHCELSIUS HLDGS INC	355,677	$16.0M	0.03%	Put
251	TLNTALEN ENERGY CORP	45,600	$16.0M	0.03%	Put
252	APLDAPPLIED DIGITAL CORP	733,100	$16.0M	0.03%	Put
253	FLRFLUOR CORP NEW	429,700	$16.0M	0.03%	Put
254	ZZILLOW GROUP INC	261,200	$16.0M	0.03%	Put
255	NCLHNORWEGIAN CRUISE LINE HLDG L	763,836	$16.0M	0.03%	Put
256	MCKMCKESSON CORP	20,000	$16.0M	0.03%	Call
257	ANFABERCROMBIE & FITCH CO	125,741	$15.0M	0.03%	Put
258	BLKBLACKROCK INC	14,952	$15.0M	0.03%	Put
259	DLTRDOLLAR TREE INC	134,300	$15.0M	0.03%	Put
260	ETNEATON CORP PLC	51,698	$15.0M	0.03%	Put
261	CRCLCIRCLE INTERNET GROUP INC	216,628	$15.0M	0.03%	Put
262	STXSEAGATE TECHNOLOGY HLDNGS PL	57,658	$15.0M	0.03%	Put
263	XLKSELECT SECTOR SPDR TR	108,000	$15.0M	0.03%	Put
264	ARANTERO RESOURCES CORP	493,941	$15.0M	0.03%	Put
265	FDXFEDEX CORP	60,163	$15.0M	0.03%	Put
266	SHELSHELL PLC	207,819	$14.0M	0.03%	Put
267	ALBALBEMARLE CORP	102,400	$14.0M	0.03%	Put
268	OKTAOKTA INC	174,255	$14.0M	0.03%	Put
269	UAAUNDER ARMOUR INC	3,175,514	$14.0M	0.03%	Put
270	ARKKARK ETF TR	192,500	$14.0M	0.03%	Put
271	SYFSYNCHRONY FINANCIAL	185,000	$14.0M	0.03%	Put
272	KBHKB HOME	258,500	$14.0M	0.03%	Put
273	STTSTATE STR CORP	119,559	$14.0M	0.03%	Put
274	ABBVABBVIE INC	69,135	$14.0M	0.03%	Put
275	NTRNUTRIEN LTD	250,000	$14.0M	0.03%	Put
276	IYRISHARES TR	159,701	$14.0M	0.03%	Put
277	ALABASTERA LABS INC	96,443	$14.0M	0.03%	Put
278	TAT&T INC	635,943	$14.0M	0.03%	Put
279	GMEGAMESTOP CORP NEW	703,300	$13.0M	0.03%	Put
280	AZNASTRAZENECA PLC	156,498	$13.0M	0.03%	Put
281	FANGDIAMONDBACK ENERGY INC	93,741	$13.0M	0.03%	Put
282	XLBSELECT SECTOR SPDR TR	323,313	$13.0M	0.03%	Put
283	VLOVALERO ENERGY CORP	90,944	$13.0M	0.03%	Put
284	ETHAISHARES ETHEREUM TR	599,615	$13.0M	0.03%
285	JCIJOHNSON CTLS INTL PLC	105,500	$12.0M	0.02%	Put
286	CLMTCALUMET INC	650,000	$12.0M	0.02%	Put
287	BCSBARCLAYS PLC	510,500	$12.0M	0.02%	Put
288	WMWASTE MGMT INC DEL	57,500	$12.0M	0.02%	Call
289	SNAPSNAP INC	1,675,763	$12.0M	0.02%	Put
290	AMGNAMGEN INC	40,602	$12.0M	0.02%	Put
291	XOPSPDR SERIES TRUST	107,076	$12.0M	0.02%	Put
292	WPMWHEATON PRECIOUS METALS CORP	113,500	$12.0M	0.02%	Put
293	ZMZOOM COMMUNICATIONS INC	149,900	$12.0M	0.02%	Put
294	SMTC 1.625 11/01/27SEMTECH CORP	5,500,000	$11.0M	0.02%
295	OGNORGANON & CO	1,661,900	$11.0M	0.02%	Put
296	FFORD MTR CO	991,610	$11.0M	0.02%	Put
297	UPWKUPWORK INC	571,900	$11.0M	0.02%	Put
298	ADBEADOBE INC	35,200	$11.0M	0.02%	Put
299	ONON SEMICONDUCTOR CORP	222,500	$11.0M	0.02%	Put
300	TERTERADYNE INC	60,378	$11.0M	0.02%	Put

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