Company: SVIX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044385
Chunk: 4

Company: VS Trust
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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     80,764,541  
     15,940,264  
     (29,858,323)

    NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS 
    $(32,200,823) 
    $81,018,808  
    $15,777,133  
    $(30,063,039)

See accompanying notes to the financial statements.

F-2

VS Trust

Statement of Changes in Net Assets

For the Three Months Ended March 31, 2025 (Unaudited) and March 31,
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 

    March 31,
 2025  
    March 31,
 2025  
    March 31,
 2024  
    March 31,
 2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    INCREASE (DECREASE) IN NET ASSETS: 

    OPERATIONS 

    Net investment income (loss) 
    $352,563  
    $254,267  
    $(163,131) 
    $(204,716)
  
    Net realized gain (loss) on investments and futures contracts 
     (27,980,689) 
     78,077,648  
     19,506,922  
     (30,744,766)
  
    Net change in unrealized appreciation (depreciation) of investments and futures contracts 
     (4,572,697) 
     2,686,893  
     (3,566,658) 
     886,443 
  
    Net increase (decrease) in net assets resulting from operations 
     (32,200,823) 
     81,018,808  
     15,777,133  
     (30,063,039)

    CAPITAL SHARE TRANSACTIONS 

    Shares sold 
     390,239,425  
     518,833,233  
     47