Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 1400

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 1400
---
009,153  
    $–  
    $–  
    $8,009,153 

    Liabilities: 

    Other Financial Instruments: 

    Futures Contracts* 
     –  
     (8,177,618) 
     –  
     (8,177,618)
  
    Total Other Financial Instruments 
    $–  
    $(8,177,618) 
    $–  
    $(8,177,618)

*The fair value of the Fund’s investment represents the net unrealized
appreciation (depreciation) as of December 31, 2023.

Refer to the Schedule of Investments for further disaggregation of
investment categories.

F-14

VS Trust

Combined
Statement of Assets and Liabilities

December
31, 2024

    ASSETS 

    Cash 
    $1,189,437 
  
    Investments in securities, at value * 
     166,925,866 
  
    Interest receivable 
     979,313 
  
    Prepaid expenses and other assets 
     66,316 
  
    Receivable for shares sold 
     336,478,843 
  
    Variation margin receivable 
     4,152,478 
  
    Other receivable 
     4,952 
  
    Total Assets 
     509,797,205 

    LIABILITIES 

    Payables 

    Variation margin payable 
     3,655,035 
  
    Fund shares redeemed 
     16,505,580 
  
    Management fees payable 
     668,205 
  
    Administrative, accounting and custodian fees payable 
     86,364 
  
    Professional fees payable 
     757,617 
  
    Licensing and registration fees payable 
     289,322 
  
    Total Liabilities 
     21,962,123 
  
    NET ASSETS 
    $487,835,082 

    NET ASSETS CONSIST OF: 

    Paid-in capital 
    $747,361,719 
  
    Total distributable earnings (accumulated deficit) 
     (259,526,637)
  
    Net Assets 
    $487,835,082 

    NET ASSET VALUE: 

    Class I (unlimited shares authorized): 

    Net Assets 
    $487,835,082 
  
    Shares Outstanding^