Company: SVIX
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109885
Chunk: 7

Company: VS Trust
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
398,613,627  
     161,731,345  
     90,707,679 
  
    Total increase (decrease) in net assets 
     (103,807,127) 
     (62,802,875) 
     130,981,684  
     84,615,644 

    NET ASSETS 

    Beginning of Period 
     268,947,186  
     596,989,784  
     186,683,075  
     82,382,210 
  
    End of Period 
    $165,140,059  
    $534,186,909  
    $317,664,759  
    $166,997,854 

See accompanying notes to the financial statements.

F-4

VS Trust

Statements of Changes in Net Assets

For the Nine 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 

    Nine Months Ended  
    Nine Months Ended  
    Nine Months Ended  
    Nine Months Ended 

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

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 

    INCREASE (DECREASE) IN NET ASSETS: 

    OPERATIONS 

    Net investment loss 
    $744,669  
    $120,069  
    $490,963  
    $(477,494)
  
    Net realized gain (loss) on investments and futures contracts 
     (26,089,144) 
     (426,821,741) 
     27,275,015  
     (67,353,025)
  
    Net change in unrealized appreciation (depreciation) of investments and futures contracts 
     9,537,059  
     (48,304,442) 
     (6,975,821) 
     5,729