Vault-13

VS TRUST

2X LONG VIX FUTU · CUSIP 92891H606

23 institutional holders -2 vs Q1 2026
4,124,5374.1m shares reported held*
$12.8mreported value*
8 new 8 added 4 reduced 10 sold out net bought ≈ $5.4m (+1.7m 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 ≈ $3.11. Options: 7 managers hold calls ($28.7m notional), 7 hold puts ($15.5m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q1 24: 1Q2 24: 1Q3 24: 0Q4 24: 1Q1 25: 24Q2 25: 18Q3 25: 26Q4 25: 20Q1 26: 25Q2 26: 2323Q1 24Q3 24Q1 25Q3 25Q1 26Q2 26
Numbers
QuarterHolders
Q1 20241
Q2 20241
Q3 20240
Q4 20241
Q1 202524
Q2 202518
Q3 202526
Q4 202520
Q1 202625
Q2 202623

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 0 bought or addedQ3 24: 1 cut or sold outQ4 24: 1 bought or addedQ4 24: 0 cut or sold outQ4 24Q1 25: 23 bought or addedQ1 25: 1 cut or sold outQ2 25: 14 bought or addedQ2 25: 15 cut or sold outQ2 25Q3 25: 21 bought or addedQ3 25: 8 cut or sold outQ4 25: 13 bought or addedQ4 25: 15 cut or sold outQ4 25Q1 26: 16 bought or addedQ1 26: 12 cut or sold outQ2 26: 16 bought or addedQ2 26: 14 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 202401
Q4 202410
Q1 2025231
Q2 20251415
Q3 2025218
Q4 20251315
Q1 20261612
Q2 20261614

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ3 25 calls: $50.2mQ3 25 puts: $37.4mQ3 25P/C 0.74Q4 25 calls: $38.5mQ4 25 puts: $28.2mQ4 25P/C 0.73Q1 26 calls: $78.1mQ1 26 puts: $55.6mQ1 26P/C 0.71Q2 26 calls: $28.7mQ2 26 puts: $15.5mQ2 26P/C 0.54
Numbers
QuarterCallsPutsP/C
Q3 2025$50.2m$37.4m0.74
Q4 2025$38.5m$28.2m0.73
Q1 2026$78.1m$55.6m0.71
Q2 2026$28.7m$15.5m0.54

Biggest buyers

PRIMORIS WEALTH ADVISORS, LLC New +655,000+655.0k
MORGAN STANLEY Added +597,743+597.7k
Hamilton Wealth, LLC Added +582,278+582.3k
CLOUGH CAPITAL PARTNERS L P Added +439,037+439.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +119,252+119.3k
RAMSEY QUANTITATIVE SYSTEMS New +108,000+108.0k
StoneX Group Inc. New +56,268+56.3k
AXXCESS WEALTH MANAGEMENT, LLC New +30,207+30.2k
Mariner, LLC Added +27,322+27.3k
TWO SIGMA SECURITIES, LLC Added +23,500+23.5k

Biggest sellers

FLOW TRADERS U.S. LLC Sold out -205,345-205.3k
JANE STREET GROUP, LLC Reduced -184,063-184.1k
GROUP ONE TRADING LLC Reduced -181,592-181.6k
Brookstone Capital Management Sold out -161,520-161.5k
Mach-1 Financial Group, LLC Sold out -63,775-63.8k
XTX Topco Ltd Sold out -49,010-49.0k
UBS Group AG Reduced -29,034-29.0k
INDEPENDENT FINANCIAL GROUP, LLC Sold out -25,000-25.0k
Jump Financial, LLC Sold out -18,441-18.4k
GAM Holding AG Sold out -15,000-15.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $11.7m3.8m shares
JANE STREET GROUP, LLC Added $5.4m1.8m shares
SIMPLEX TRADING, LLC Added $3.8m548.7k shares
IMC-Chicago, LLC Added $3.2m1.0m shares
GROUP ONE TRADING LLC Added $3.2m1.0m shares
CITADEL ADVISORS LLC Reduced $1.2m382.5k shares
HRT FINANCIAL LP New $224.0k72.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.3m2.4m shares
IMC-Chicago, LLC Reduced $3.0m957.4k shares
SIMPLEX TRADING, LLC Reduced $1.5m128.5k shares
JANE STREET GROUP, LLC Reduced $1.3m430.4k shares
HRT FINANCIAL LP Reduced $1.3m422.5k shares
CITADEL ADVISORS LLC Reduced $864.0k279.6k shares
GROUP ONE TRADING LLC Reduced $225.9k73.1k 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.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Hamilton Wealth, LLC 0.58% of their portfolio LOS ANGELES, CA 1,019,3501.0m $3.1m $3.1m 0.58% Added +582.3k +582,278
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 992,596992.6k $3.1m $3.1m 0.00% Added +597.7k +597,743
3 PRIMORIS WEALTH ADVISORS, LLC 0.92% of their portfolio North Palm Beach, FL 655,000655.0k $2.0m $2.0m 0.92% New
4 CLOUGH CAPITAL PARTNERS L P 0.13% of their portfolio Boston, MA 510,937510.9k $1.6m $1.6m 0.13% Added +439.0k +439,037
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 389,094389.1k $1.2m $1.2m 0.00% Added +119.3k +119,252
6 GROUP ONE TRADING LLC 0.01% of their portfolio CHICAGO, IL 113,933113.9k $352.1k $352.1k 0.01% Reduced -181.6k -181,592
7 RAMSEY QUANTITATIVE SYSTEMS 0.30% of their portfolio LOUISVILLE, KY 108,000108.0k $333.7k $333.7k 0.30% New
8 StoneX Group Inc. 0.01% of their portfolio NEW YORK, NY 56,26856.3k $252.0k $252.0k 0.01% New
9 TWO SIGMA SECURITIES, LLC 0.01% of their portfolio NEW YORK, NY 44,36444.4k $137.1k $137.1k 0.01% Added +23.5k +23,500
10 Mariner, LLC 0.00% of their portfolio Overland Park, KS 39,59139.6k $122.3k $122.3k 0.00% Added +27.3k +27,322
11 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 37,11737.1k $114.7k $114.7k 0.00% Reduced -184.1k -184,063
12 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 35,38135.4k $109.3k $109.3k 0.00% Added +4.0k +4,000
13 Capital Asset Advisory Services LLC 0.00% of their portfolio Williamston, MI 30,20730.2k $93.3k $93.3k 0.00% Unchanged
14 AXXCESS WEALTH MANAGEMENT, LLC 0.00% of their portfolio CARLSBAD, CA 30,20730.2k $93.3k $93.3k 0.00% New
15 LAKE STREET PRIVATE WEALTH, LLC 0.01% of their portfolio CHICAGO, IL 20,00020.0k $61.8k $61.8k 0.01% New
16 Marex Group Ltd 0.00% of their portfolio London, X0 20,00020.0k $61.8k $61.8k 0.00% New
17 Samalin Investment Counsel, LLC 0.01% of their portfolio CHAPPAQUA, NY 10,72510.7k $33.1k $33.1k 0.01% New
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,3437.3k $23.8k $23.8k 0.00% Added +5.7k +5,700
19 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 2,1502.1k $6.6k $6.6k 0.00% Unchanged
20 Silver Grove Financial Group, Inc. 0.00% of their portfolio ORCHARD PARK, NY 1,3081.3k $4.0k $4.0k 0.00% New
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 666666 $2.1k $2.1k 0.00% Reduced -29.0k -29,034
22 Caitlin John, LLC 0.00% of their portfolio BRIGHTON, MI 200200 $618 $618 0.00% Reduced -13.5k -13,500
23 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 100100 $309 $309 0.00% Unchanged