Parallax Volatility Advisers, L.P.
Follow13F filer, CIK 1521001, San Francisco, CA
Parallax Volatility Advisers, L.P. reported $50,701,424,897 across 1,605 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 35.13% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-001067
- Period
- 2025-12-31
- Reported value
- $50.7B
- Holdings
- 1,605
- Top 10 weight
- 35.13%
- New
- 373
- Sold out
- 341
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| AXPnew | +733,883 | $272M |
| IWMnew | +625,766 | $154M |
| SPYnew | +134,473 | $91.7M |
| BABAadded | +291,985 | $42.8M |
| MSadded | +211,536 | $37.6M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| METAexited | -285,409 | -$210M |
| NVDAexited | -721,202 | -$135M |
| GLDreduced | -210,700 | -$83.5M |
| QQQexited | -106,284 | -$63.8M |
| AMZNreduced | -200,466 | -$46.3M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Back to all 543 share positions
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| BYNDBEYOND MEAT INC COM | put | 42,000 | $34.4K | new |
| AEOAMERICAN EAGLE OUTFITTERS IN Stock | put | 1,000 | $26.4K | new |
| HBANHUNTINGTON BANCSHARES INC Stock | put | 1,500 | $26K | 0 |
| WBDWARNER BROS DISCOVERY INC Stock | put | 900 | $25.9K | -8,400 |
| TMETENCENT MUSIC ENTMT GROUP ADR | put | 1,300 | $22.8K | new |
| LULULULULEMON ATHLETICA INC COM | put | 100 | $20.8K | -279,700 |
| XHBSPDR SERIES TRUST SHS | put | 200 | $20.6K | new |
| MKCMCCORMICK & CO INC Stock | put | 300 | $20.4K | -14,600 |
| TEAMATLASSIAN CORPORATION STOK | put | 100 | $16.2K | 0 |
| AIC3 AI INC CL A | call | 1,200 | $16.2K | new |
| NRGNRG ENERGY INC Stock | call | 100 | $15.9K | new |
| ASHRDBX ETF TR XTRACK HRVST CSI | call | 400 | $13.1K | 0 |
| PLDPROLOGIS INC. COM | put | 100 | $12.8K | -5,800 |
| SESEA LTD SPONSORD ADS | call | 100 | $12.8K | 0 |
| ANFABERCROMBIE & FITCH CO Stock | call | 100 | $12.6K | new |
| AEPAMERICAN ELEC PWR CO INC Stock | put | 100 | $11.5K | new |
| NDAQNASDAQ INC Stock | put | 100 | $9.71K | new |
| NCLHNORWEGIAN CRUISE LINE HLDGS Stock | call | 400 | $8.93K | new |
| CTSHCOGNIZANT TECHNOLOGY SOLUTIO Stock | call | 100 | $8.3K | new |
| FIVNFIVE9 INC COM | call | 300 | $6.01K | new |
| BKRBAKER HUGHES COMPANY Stock | put | 100 | $4.55K | new |
| TOSTTOAST INC STOK | put | 100 | $3.55K | -2,500 |
| RRCRANGE RES CORP Stock | put | 100 | $3.53K | -50,000 |
| HBANHUNTINGTON BANCSHARES INC Stock | call | 200 | $3.47K | -44,700 |
| HLFHERBALIFE LTD COM SHS | call | 200 | $2.58K | new |
| CRONCRONOS GROUP INC COM | call | 200 | $526 | 0 |
| DNNDENISON MINES CORP COM | put | 100 | $266 | new |
| NFENEW FORTRESS ENERGY INC COM CL A | put | 100 | $114 | new |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 40,000,000 | $39.9M | 0 |
| CHEFS WHSE INCCHEFS WHSE INC NOTE 2.375%12/1 | principal | 16,908,000 | $25.6M | +969,000 |
| SPOTIFY USA INCSPOTIFY USA INC NOTE 3/1 | principal | 20,000,000 | $22.7M | 0 |
| BLACKSTONE MORTGAGE TRUST INBLACKSTONE MORTGAGE TRUST IN NOTE 5.500% 3/1 | principal | 20,950,000 | $20.6M | 0 |
| AIRBNB INCAIRBNB INC CLASS A | principal | 20,000,000 | $19.8M | -5,000,000 |
| WEC ENERGY GROUP INCWEC ENERGY GROUP INC Convertible | principal | 16,457,000 | $19.2M | +2,842,000 |
| PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1 | principal | 18,000,000 | $17.9M | +1,222,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0 | principal | 10,000,000 | $11.9M | 0 |
| SEMTECH CORPSEMTECH CORP NOTE 1.625%11/0 | principal | 5,500,000 | $11.2M | 0 |
| PEABODY ENGR CORPPEABODY ENGR CORP NOTE 3.250% 3/0 | principal | 6,500,000 | $10.9M | 0 |
| GUARDANT HEALTH INCGUARDANT HEALTH INC NOTE 11/1 | principal | 10,000,000 | $10.8M | 0 |
| STRATEGY INCSTRATEGY INC NOTE12/0 | principal | 13,000,000 | $10.6M | new |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 11/1 | principal | 10,500,000 | $10.1M | 0 |
| TripAdvisor IncTripAdvisor Inc CONV | principal | 10,000,000 | $9.8M | 0 |
| SEA LTDSEA LTD NOTE 0.250% 9/1 | principal | 10,000,000 | $9.7M | +2,000,000 |
| SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC NOTE 3.500% 3/0 | principal | 10,000,000 | $8.89M | 0 |
| PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1 | principal | 7,500,000 | $8.23M | new |
| SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0 | principal | 5,000,000 | $7.72M | -4,000,000 |
| FIRSTENERGY CORPFIRSTENERGY CORP NOTE 4.000% 5/0 | principal | 7,500,000 | $7.66M | new |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 | principal | 5,250,000 | $7.63M | 0 |
| EVERGY INCEVERGY INC NOTE 4.500%12/1 | principal | 5,000,000 | $6.08M | 0 |
| PAR TECHNOLOGY CORPPAR TECHNOLOGY CORP NOTE 1.500%10/1 | principal | 6,250,000 | $6.08M | 0 |
| PURECYCLE TECHNOLOGIES INCPURECYCLE TECHNOLOGIES INC NOTE 7.250% 8/1 | principal | 6,000,000 | $6M | 0 |
| WINNEBAGO INDS INCWINNEBAGO INDS INC NOTE 3.250% 1/1 | principal | 5,000,000 | $4.69M | 0 |
| REDFIN CORPREDFIN CORP NOTE 0.500% 4/0 | principal | 5,000,000 | $4.68M | 0 |
| MARA HOLDINGS INCMARA HOLDINGS INC NOTE 6/0 | principal | 5,000,000 | $4.16M | new |
| CRACKER BARREL OLD CTRY STORCRACKER BARREL OLD CTRY STOR cv | principal | 4,000,000 | $3.88M | -2,000,000 |
| ETSY INCETSY INC NOTE 0.250% 6/1 | principal | 4,000,000 | $3.57M | -3,420,000 |
| UNITI GROUP LLCUNITI GROUP LLC COM | principal | 3,000,000 | $3.31M | new |
| VAIL RESORTS INCVAIL RESORTS INC NOTE 1/0 | principal | 3,000,000 | $2.99M | 0 |
| GREEN PLAINS INCGREEN PLAINS INC NOTE 2.250% 3/1 | principal | 3,000,000 | $2.87M | 0 |
| DROPBOX INCDROPBOX INC NOTE 3/0 | principal | 2,500,000 | $2.52M | -2,500,000 |
| MARA HOLDINGS INCMARA HOLDINGS INC NOTE 1.000%12/0 | principal | 2,500,000 | $2.28M | 0 |
| UPWORK INCUPWORK INC NOTE 0.250% 8/1 | principal | 2,000,000 | $1.95M | 0 |
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
The largest 100 of 341. All 341
| Security | Shares before | Value before | Type |
|---|---|---|---|
| METAMETA PLATFORMS INC | 285,409 | $210M | shares |
| NVDANVIDIA CORPORATION | 721,202 | $135M | shares |
| QQQINVESCO QQQ TR | 106,284 | $63.8M | shares |
| GOOGLALPHABET INC | 174,161 | $42.3M | shares |
| BABOEING CO | 162,747 | $35.1M | shares |
| AAPLAPPLE INC | 125,539 | $32M | shares |
| AXON ENTERPRISE INCAXON ENTERPRISE INC | 10,000,000 | $31.4M | principal |
| APDAIR PRODUCTS AND CHEMICALS I | 90,000 | $24.5M | call |
| CMECME GROUP INC | 75,000 | $20.3M | call |
| LLYELI LILLY & CO | 25,000 | $19.1M | call |
| EMBISHARES TR | 200,000 | $19M | put |
| ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC | 11,184,000 | $18.4M | principal |
| PFSIPENNYMAC FINL SVCS INC NEW | 135,000 | $16.7M | put |
| UNHUNITEDHEALTH GROUP INC | 46,057 | $15.9M | shares |
| SMHVANECK ETF TRUST | 48,366 | $15.8M | shares |
| BAXBAXTER INTL INC | 670,000 | $15.3M | put |
| SOXXISHARES TR | 55,420 | $15M | shares |
| BLSHBULLISH | 218,100 | $13.9M | call |
| XLPSELECT SECTOR SPDR TR | 176,500 | $13.8M | call |
| BIDUBAIDU INC | 101,369 | $13.4M | shares |
| IJRISHARES TR | 112,200 | $13.3M | put |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC | 8,990,000 | $13.2M | principal |
| RPRXROYALTY PHARMA PLC | 370,200 | $13.1M | call |
| LWLAMB WESTON HLDGS INC | 220,000 | $12.8M | put |
| INTCINTEL CORP | 379,436 | $12.7M | shares |
| BLSHBULLISH | 198,300 | $12.6M | put |
| ADSKAUTODESK INC | 38,900 | $12.4M | put |
| BNYBANK OF NY MELLON CORP | 100,000 | $10.9M | call |
| RWTREDWOOD TRUST INC | 1,880,300 | $10.9M | put |
| MARAMARA HOLDINGS INC | 583,350 | $10.7M | shares |
| ADBEADOBE INC | 29,940 | $10.6M | shares |
| ELLAUDER ESTEE COS INC | 115,000 | $10.1M | call |
| WECWEC ENERGY GROUP INC | 80,000 | $9.17M | call |
| CSGPCOSTAR GROUP INC | 105,000 | $8.86M | call |
| DELLDELL TECHNOLOGIES INC | 61,566 | $8.73M | shares |
| ARRYARRAY TECHNOLOGIES INC | 1,060,000 | $8.64M | call |
| TEMTEMPUS AI INC | 106,300 | $8.58M | call |
| BMOBANK OF MONTREAL | 65,000 | $8.47M | call |
| TTDTHE TRADE DESK INC | 169,433 | $8.3M | shares |
| PHMPULTE GROUP INC | 59,700 | $7.89M | put |
| EFAISHARES TR | 83,322 | $7.78M | shares |
| LYFTLYFT INC | 351,200 | $7.73M | put |
| CCLCARNIVAL CORP | 262,094 | $7.58M | shares |
| PINNACLE WEST CAP CORPPINNACLE WEST CAP CORP | 7,000,000 | $7.52M | principal |
| CMACOMERICA INC | 108,800 | $7.45M | call |
| BXPBXP INC | 100,000 | $7.43M | put |
| BXPBXP INC | 100,000 | $7.43M | call |
| TRUTRANSUNION | 87,700 | $7.35M | call |
| LINLINDE PLC | 15,000 | $7.12M | put |
| RWT HLDGS INCRWT HLDGS INC | 7,060,000 | $7.04M | principal |
| RIOTRIOT PLATFORMS INC | 361,224 | $6.87M | shares |
| TPRTAPESTRY INC | 58,416 | $6.61M | shares |
| CIFRCIPHER DIGITAL INC | 503,270 | $6.34M | shares |
| PHPARKER-HANNIFIN CORP | 8,000 | $6.07M | put |
| SUISUN CMNTYS INC | 45,000 | $5.8M | put |
| SUISUN CMNTYS INC | 45,000 | $5.8M | call |
| EFXEQUIFAX INC | 22,400 | $5.75M | put |
| KODKEASTMAN KODAK CO | 862,000 | $5.53M | put |
| HOUSANYWHERE REAL ESTATE INC | 517,773 | $5.48M | shares |
| HUMHUMANA INC | 21,000 | $5.46M | call |
| SRESEMPRA | 57,700 | $5.19M | call |
| SRESEMPRA | 57,500 | $5.17M | put |
| WOLFWOLFSPEED INC | 171,200 | $4.9M | put |
| CAHCARDINAL HEALTH INC | 30,000 | $4.71M | put |
| GTLSCHART INDS INC | 23,400 | $4.68M | call |
| IPINTERNATIONAL PAPER CO | 100,000 | $4.64M | call |
| WENWENDYS CO | 500,000 | $4.58M | put |
| JOBYJOBY AVIATION INC | 280,000 | $4.52M | put |
| HNRGHALLADOR ENERGY COMPANY | 225,000 | $4.4M | put |
| FORD MOTOR COMPANYFORD MOTOR COMPANY | 4,125,000 | $4.18M | principal |
| EBAYEBAY INC. | 44,900 | $4.08M | call |
| CAHCARDINAL HEALTH INC | 25,000 | $3.92M | call |
| LNGCHENIERE ENERGY INC | 16,411 | $3.86M | shares |
| SUSUNCOR ENERGY INC NEW | 90,000 | $3.76M | call |
| PRMBPRIMO BRANDS CORPORATION | 169,100 | $3.74M | call |
| OTGAUOTG ACQUISITION CORP. I | 353,403 | $3.56M | shares |
| SDRLSEADRILL LTD | 117,101 | $3.54M | shares |
| CNPCENTERPOINT ENERGY INC | 89,100 | $3.46M | put |
| HOUSANYWHERE REAL ESTATE INC | 323,000 | $3.42M | call |
| EWJISHARES INC | 42,000 | $3.37M | put |
| ETHAISHARES ETHEREUM TR | 106,600 | $3.36M | call |
| EMBISHARES TR | 32,550 | $3.1M | shares |
| LACLITHIUM AMERS CORP NEW | 526,500 | $3.01M | put |
| STXSEAGATE TECHNOLOGY HLDNGS PL | 12,500 | $2.95M | call |
| TROWPRICE T ROWE GROUP INC | 28,400 | $2.91M | put |
| PHPARKER-HANNIFIN CORP | 3,833 | $2.91M | shares |
| SOUNSOUNDHOUND AI INC | 170,000 | $2.73M | call |
| PPLPPL CORP | 72,500 | $2.69M | call |
| KOYNCSLM DIGITA ASSET ACQ CORP I | 270,482 | $2.68M | shares |
| EQNREQUINOR ASA | 110,000 | $2.68M | put |
| CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL | 5,500 | $2.66M | put |
| MCHPMICROCHIP TECHNOLOGY INC. | 41,167 | $2.64M | shares |
| MMACYS INC | 147,291 | $2.64M | shares |
| PAIIPYROPHYTE ACQUISITION CORP. | 263,600 | $2.63M | shares |
| DOCSDOXIMITY INC | 35,000 | $2.56M | call |
| GSRFUGSR IV ACQUISITION CORP | 250,000 | $2.53M | shares |
| ENTGENTEGRIS INC | 27,100 | $2.51M | call |
| KMIKINDER MORGAN INC DEL | 87,636 | $2.48M | shares |
| AMTAMERICAN TOWER CORP | 12,500 | $2.4M | put |
| TOTALENERGIES SE -SPON ADRTOTALENERGIES SE -SPON ADR | 40,000 | $2.39M | call |
How Q4 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001172661-26-001067 | base | 2026-02-17 | acceptance time not in the bulk data set |