Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 473

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 473
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(354,616,743)
  
    Net
    Assets 
    $300,123,823  
    $187,711,259  
    $125,057,419  
    $69,664,996 

    Net
    Asset Value (unlimited shares authorized): 

    Class
    I (unlimited shares authorized): 

    Net
    Assets 
    $300,123,823  
    $187,711,259  
    $125,057,419  
    $69,664,996 
  
    Shares
    Outstanding^ 
     11,820,000  
     5,531,498(1)   
     3,310,000  
     507,498(2) 
  
    Net
    Asset Value, Offering and Redemption Price per Share 
    $25.39  
    $33.93(1)  
    $37.78  
    $137.27(2) 
  
    Market
    Value per Share  
    $25.37  
    $34.00(1)   
    $37.73  
    $137.30(2) 

    *
    Investments in securities, at cost 
    $113,974,059  
    $52,819,184  
    $15,728,432  
    $8,009,153 

^No Par Value

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

(2)Adjusted
to reflect a 1:5 reverse stock split on January 25, 2023, a 1:10 reverse stock split on October 11, 2023, and a 1:10 reverse stock split
on January 15, 2025, as if they occurred at the commencement of operations.

See accompanying notes to the financial statements.

F-3

VS Trust

Statements of Operations

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

    For the year ended  
    For the year  ended  
    For the year  ended  
    For the year