Vault-13

VS TRUST SVIX

-1X SHRT VIX FUT · ETP · CUSIP 92891H101

18 institutional holders +0 vs Q3 2025
2,189,0412.2m shares reported held*
$53.1mreported value*
4 new 5 added 6 reduced 5 sold out net sold ≈ $3.5m (-144.2k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $24.23. Options: 6 managers hold calls ($82.4m notional), 5 hold puts ($28.0m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 14Q4 22: 14Q1 23: 14Q2 23: 22Q3 23: 18Q4 23: 21Q1 24: 21Q2 24: 21Q3 24: 23Q4 24: 27Q1 25: 23Q2 25: 22Q3 25: 18Q4 25: 1818Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202214
Q4 202214
Q1 202314
Q2 202322
Q3 202318
Q4 202321
Q1 202421
Q2 202421
Q3 202423
Q4 202427
Q1 202523
Q2 202522
Q3 202518
Q4 202518

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q1 24: 11 bought or addedQ1 24: 13 cut or sold outQ2 24: 14 bought or addedQ2 24: 10 cut or sold outQ2 24Q3 24: 17 bought or addedQ3 24: 12 cut or sold outQ4 24: 16 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 13 bought or addedQ1 25: 17 cut or sold outQ2 25: 14 bought or addedQ2 25: 15 cut or sold outQ2 25Q3 25: 8 bought or addedQ3 25: 14 cut or sold outQ4 25: 9 bought or addedQ4 25: 11 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241113
Q2 20241410
Q3 20241712
Q4 20241614
Q1 20251317
Q2 20251415
Q3 2025814
Q4 2025911

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$25m$50m$75m$100mQ1 25 calls: $65.7mQ1 25 puts: $40.6mQ1 25P/C 0.62Q2 25 calls: $56.5mQ2 25 puts: $20.2mQ2 25P/C 0.36Q3 25 calls: $68.7mQ3 25 puts: $31.8mQ3 25P/C 0.46Q4 25 calls: $82.4mQ4 25 puts: $28.0mQ4 25P/C 0.34
Numbers
QuarterCallsPutsP/C
Q1 2025$65.7m$40.6m0.62
Q2 2025$56.5m$20.2m0.36
Q3 2025$68.7m$31.8m0.46
Q4 2025$82.4m$28.0m0.34

Biggest buyers

CITADEL ADVISORS LLC New +123,986+124.0k
Jump Financial, LLC Added +109,077+109.1k
GROUP ONE TRADING LLC New +105,471+105.5k
MIdWestOne Financial Group, Inc. New +76,572+76.6k
JANE STREET GROUP, LLC Added +56,209+56.2k
FLOW TRADERS U.S. LLC Added +43,415+43.4k
Headlands Technologies LLC New +37,566+37.6k
MORGAN STANLEY Added +32,897+32.9k
HRT FINANCIAL LP Added +1,924+1.9k

Biggest sellers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -408,885-408.9k
Innova Wealth Partners Reduced -85,145-85.1k
Triton Wealth Management, PLLC Sold out -78,805-78.8k
SIMPLEX TRADING, LLC Reduced -56,038-56.0k
JPMORGAN CHASE & CO Sold out -48,842-48.8k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -32,600-32.6k
UBS Group AG Reduced -11,494-11.5k
BARCLAYS PLC Sold out -7,300-7.3k
Wealthspire Advisors, LLC Sold out -1,096-1.1k
Tower Research Capital LLC (TRC) Sold out -694-694

Biggest calls

GROUP ONE TRADING LLC Added $25.2m1.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $25.0m1.0m shares
JANE STREET GROUP, LLC Reduced $13.8m567.6k shares
IMC-Chicago, LLC Reduced $12.8m528.5k shares
CITADEL ADVISORS LLC Added $5.4m224.6k shares
HRT FINANCIAL LP Reduced $201.0k8.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.5m391.4k shares
JANE STREET GROUP, LLC Reduced $5.7m235.2k shares
GROUP ONE TRADING LLC Added $4.9m202.6k shares
IMC-Chicago, LLC Reduced $4.2m172.3k shares
CITADEL ADVISORS LLC Reduced $3.7m153.9k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 842,052842.1k $20.4m $20.4m 0.03% Reduced -408.9k -408,885
2 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 250,000250.0k $6.1m $6.1m 0.00% Unchanged
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 140,512140.5k $3.4m $3.4m 0.00% Added +32.9k +32,897
4 Jump Financial, LLC 0.04% of their portfolio Chicago, IL 132,393132.4k $3.2m $3.2m 0.04% Added +109.1k +109,077
5 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 123,986124.0k $3.0m $3.0m 0.00% New
6 Ballast Rock Private Wealth LLC 1.72% of their portfolio CHARLESTON, SC 113,400113.4k $2.7m $2.7m 1.72% First filing
7 Innova Wealth Partners 1.37% of their portfolio NEWTOWN, PA 112,207112.2k $2.7m $2.7m 1.37% Reduced -85.1k -85,145
8 GROUP ONE TRADING LLC 0.08% of their portfolio CHICAGO, IL 105,471105.5k $2.6m $2.6m 0.08% New
9 FLOW TRADERS U.S. LLC 0.06% of their portfolio NEW YORK, NY 76,70176.7k $1.9m $1.9m 0.06% Added +43.4k +43,415
10 MIdWestOne Financial Group, Inc. 0.21% of their portfolio Iowa City, IA 76,57276.6k $1.9m $1.9m 0.21% New
11 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 65,63365.6k $1.6m $1.6m 0.00% Added +56.2k +56,209
12 SIMPLEX TRADING, LLC 0.03% of their portfolio CHICAGO, IL 40,89640.9k $990.9k $990.9k 0.03% Reduced -56.0k -56,038
13 Headlands Technologies LLC 0.08% of their portfolio CHICAGO, IL 37,56637.6k $910.2k $910.2k 0.08% New
14 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 26,29126.3k $637.0k $637.0k 0.00% Added +1.9k +1,924
15 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 22,60022.6k $557.8k $557.8k 0.00% Reduced -32.6k -32,600
16 TWO SIGMA SECURITIES, LLC 0.04% of their portfolio NEW YORK, NY 11,16411.2k $270.5k $270.5k 0.04% Reduced -425 -425
17 UBS Group AG 0.00% of their portfolio ZURICH, V8 6,0976.1k $147.7k $147.7k 0.00% Reduced -11.5k -11,494
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,5005.5k $133.3k $133.3k 0.00% Unchanged