Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 889

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 889
---
abilities 
     10,365,464 
  
    NET ASSETS  
    $194,722,415 

    NET ASSETS CONSIST OF:  

    Paid-in capital 
    $428,839,863 
  
    Total distributable earnings (accumulated deficit) 
     (234,117,448)
  
    Net Assets 
    $194,722,415 

    NET ASSET VALUE:  

    Class I (unlimited shares authorized):   

    Net Assets 
    $194,722,415 
  
    Shares Outstanding^ 
     3,817,498 

    * Investments in securities, at cost 
    $23,737,585 

^No Par Value

(1)The Fund commenced operations on March 28, 2022.

See accompanying notes to the
financial statements.

F-16

VS Trust

Combined
Statement of Operations 

For
The Year Ended December 31, 2024

    INVESTMENT INCOME 

    Income: 

    Dividends 
    $1,085 
  
    Interest income 
     6,918,329 
  
    Total Income 
     6,919,414 

    Expenses: 

    Management fees 
     4,983,199 
  
    Administrative, accounting and custodian fees 
     377,180 
  
    Professional fees 
     909,961 
  
    Licensing and registration fees 
     237,504 
  
    Broker interest expense 
     47,307 
  
    Total Expenses 
     6,555,151 
  
    Net Investment loss 
     364,263 

    REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FUTURES CONTRACTS 

    Net realized gain (loss) on: 

    Futures 
     (23,151,830)
  
    Options 
     (8,015,082)
  
    Net change in unrealized appreciation (depreciation) of: 

    Futures 
     4,449,504 
  
    Options 
     943,956 
  
    Net realized and unrealized gain (loss) on investments and futures contracts 
     (25,773,452)
  
    NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS 
    $(25,409,189)

See accompanying notes to financial statements.

F-17

VS Trust