Company: SVIX
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109885
Chunk: 2

Company: VS Trust
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 2
---
    $187,711,259 

    Net Asset Value (unlimited shares authorized): 

    Class I (unlimited shares authorized): 

    Net Assets 
    $165,140,059  
    $534,186,909  
    $300,123,823  
    $187,711,259 
  
    Shares Outstanding^ 
     7,720,000  
     53,757,473(1) 
     11,820,000  
     5,531,498(1)
  
    Net Asset Value, Offering and Redemption Price per Share 
    $21.39  
    $9.94(1) 
    $25.39  
    $33.93(1)
  
    Market Value per Share (Note 2) 
    $21.38  
    $9.93(1) 
    $25.37  
    $34.00(1)

    *Investments in securities, at cost 
    $919,232  
    $-  
    $113,974,059  
    $52,819,184 

^No
Par Value

(1)Adjusted
to reflect a 1:10 reverse stock split on January 15, 2025, as if it occurred at the commencement of operations.

See accompanying notes to the financial statements.

F-1

VS Trust

Statements of Operations

For the Three Months Ended September 30, 2025 (Unaudited)
and September 30, 2024 (Unaudited)

    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF  
    -1x Short VIX Futures ETF  
    2x Long VIX Futures ETF 

    Quarter Ended  
    Quarter Ended  
    Quarter Ended  
    Quarter Ended 

    September 30,
 2025  
    September 30,
2025  
    September 30,
2024  
    September 30,
2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    INVESTMENT INCOME 

    Income: 

    Interest income 
    $884,596  
    $3,013,952  
    $1,893,485  
    $407,680