Company: SVIX
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004207
Chunk: 185

Company: VS Trust
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 185
---
: 

    Options 
     (742,711)
  
    Futures 
     (177,337,257)
  
    Net change in unrealized appreciation (depreciation) of: 

    Options 
     (811,333)
  
    Futures 
     7,850,482 
  
    Net realized and unrealized gain (loss) on investments and futures contracts 
     (171,040,819)
  
    NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS 
    $(173,416,220)

See accompanying notes to financial
statements.

F-18

VS Trust

Combined
Statement of Changes in Net Assets

For
The Year Ended December 31, 2024

    INCREASE (DECREASE) IN NET ASSETS: 

    OPERATIONS 

    Net investment loss 
    $364,263 
  
    Net realized gain (loss) on investments and futures contracts 
     (31,166,912)
  
    Net change in unrealized appreciation (depreciation) of investments and futures contracts 
     5,393,460 
  
    Net decrease in net assets resulting from operations 
     (25,409,189)

    CAPITAL SHARE TRANSACTIONS 

    Shares sold 
     1,570,874,548 
  
    Shares redeemed 
     (1,252,352,692)
  
    Net increase in net assets from capital share transactions 
     318,521,856 
  
    Total increase in net assets 
    $293,112,667 

    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