Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 891

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 891
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    NET ASSETS 

    Beginning of Year 
    $194,722,415 
  
    End of Year 
    $487,835,082 

See accompanying notes to the financial statements.

F-19

VS Trust

Combined Statement of Changes
in Net Assets

For The Year Ended December 31, 2023

    INCREASE (DECREASE) IN NET ASSETS: 

     OPERATIONS 

    Net investment loss 
    $(2,375,401)
  
    Net realized gain (loss) on investments and futures contracts 
     (178,079,968)
  
    Net change in unrealized appreciation (depreciation) of investments and futures contracts 
     7,039,149 
  
    Net decrease in net assets resulting from operations 
     (173,416,220)

    CAPITAL SHARE TRANSACTIONS 

    Shares sold 
     751,782,287 
  
    Shares redeemed 
     (555,511,021)
  
    Net increase in net assets from capital share transactions 
     196,271,266 
  
    Total increase in net assets 
     22,855,046 

    NET ASSETS 

    Beginning of Year 
     171,867,369 
  
    End of Year 
    $194,722,415 

See accompanying notes to
the financial statements.

F-20

VS Trust

Combined Statements of Cash Flows

For The Year Ended December 31, 2024

    CASH FLOW FROM OPERATING ACTIVITIES 

    Net increase (decrease) in net assets resulting from operations 
    $(25,409,189)
  
    Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities 

    Purchase of investments 
     (1,725,213,572)
  
    Proceeds from sales or maturities of investments held 
     1,574,142,832 
  
    Net realized gain/loss on investments held 
     8,015,082 
  
    Net change in unrealized appreciation/depreciation on investments in options 
     (943,956)
  
    Decrease (Increase) in Deposits at broker for futures and option contracts 
     (159,725,358)
  
    Decrease (Increase) in Variation margin receivable 
     (4,003,885)
  
    Decrease (Increase) in Prepaid