Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
EVENT LINKED BONDS - 18.9% (a)
 
 
 
 
 
Canada - 0.1%
 
 
 
 
 
Multiperil - 0.1%
 
 
 
 
 
MMIFS Re 2025-1 Class A, 5.19% (CORRA + 2.90%), 01/10/2028 (Acquired 1/8/2025, Cost $654,962) (b)(c)(d)
 
 
CAD
942,000
 
 
$691,773
 
MMIFS Re 2026-1 Class A, 8.96% (CORRA + 6.67%), 01/08/2029 (Acquired 1/2/2026, Cost $480,577) (b)(c)(d)
 
 
660,000
 
 
483,882
 
 
 
1,175,655
 
Chile - 0.2%
 
Earthquake - 0.2%
 
IBRD CAR 131, 8.47% (SOFR + 4.79%), 03/31/2026 (Acquired 3/17/2023 - 2/29/2024, Cost $2,947,086) (b)(c)(d)
 
 
$
2,946,000
 
 
2,953,807
 
Europe - 0.4%
 
Earthquake - 0.1%
 
Azzurro Re II DAC 2024-1 Class A, 8.42% (3 Month EURIBOR + 6.25%), 04/20/2028
(Acquired 3/21/2024, Cost $681,786)(b)(c)(d)
 
 
EUR
628,000
 
 
747,863
 
Lion Re DAC 2025-1 Class B, 8.03% (3 Month EURIBOR + 6.00%), 06/15/2029 (Acquired 5/22/2025, Cost $457,909) (b)(c)(d)
 
 
406,000
 
 
482,818
 
 
 
 
 
1,230,681
 
Multiperil - 0.1%
 
Hexagon IV Re 2025-1 Class A, 6.99% (3 Month EURIBOR + 4.96%), 01/22/2030
(Acquired 10/29/2025, Cost $772,523) (b)(c)(d)
 
 
666,000
 
 
792,524
 
King Max Re DAC, 7.42% (3 Month EURIBOR + 5.00%), 01/06/2027 (Acquired 12/8/2023, Cost $833,136) (b)(c)(d)
 
 
774,000
 
 
927,739
 
Taranis Re DAC 2023-1 Class A, 11.02% (3 Month EURIBOR + 8.99%), 01/21/2028
(Acquired 11/29/2023, Cost $282,018) (b)(c)(d)
 
 
257,000
 
 
312,953
 
 
 
 
 
2,033,216
 
Windstorm - 0.2%
 
Blue Sky Re DAC 2023-1, 8.19% (3 Month EURIBOR + 6.16%), 01/26/2027 (Acquired 12/11/2023, Cost $379,986) (b)(c)(d)
 
 
353,000
 
 
431,129
 
Eiffel Re 2023-1 Class A, 5.61% (3 Month EURIBOR + 3.58%), 01/19/2027 (Acquired 6/22/2023, Cost $1,175,736) (b)(c)(d)
 
 
1,073,000
 
 
1,289,055
 
Hexagon IV Re 2023-1 Class A, 10.45% (3 Month EURIBOR + 8.43%), 01/21/2028
(Acquired 11/7/2023, Cost $825,695) (b)(c)(d)
 
 
772,000
 
 
956,639
 
 
 
 
 
2,676,823
 
 
 
5,940,720
 
Global - 1.0%
 
Cyber - 0.2%
 
East Lane Re VII 2024-1 Class A, 12.43% (Treasury Money Market Fund + 8.89%), 03/31/2026 (Acquired 12/20/2023, Cost $569,000) (b)(c)(d)
 
 
$
569,000
 
 
572,357
 
East Lane Re VII 2026-1 Class A, 12.15% (3 Month U.S. Treasury Bill Rate + 8.50%), 03/31/2028 (Acquired 12/22/2025, Cost $621,000) (b)(c)(d)
 
 
621,000
 
 
620,037
 
PoleStar Re 2024-3 Class A, 14.12% (Treasury Money Market Fund + 10.59%), 01/07/2028
(Acquired 9/19/2024, Cost $1,682,000) (b)(c)(d)
 
 
1,682,000
 
 
1,752,644
 
 
 
 
 
2,945,038
 
Earthquake - 0.1%
 
3264 Re 2025-1 Class B, 6.52% (Treasury Money Market Fund + 3.00%), 02/07/2028
(Acquired 1/24/2025, Cost $491,000) (b)(c)(d)
 
 
491,000
 
 
493,872
 
Ashera Re 2024-1 Class A, 8.71% (Treasury Money Market Fund + 5.19%), 04/07/2027
(Acquired 3/21/2024, Cost $506,000) (b)(c)(d)
 
 
506,000
 
 
517,841
 
 
 
 
 
1,011,713
 
Multiperil - 0.7%
 
3264 Re 2025-1 Class A, 24.77% (Treasury Money Market Fund + 21.25%), 02/07/2028
(Acquired 1/24/2025, Cost $491,000) (b)(c)(d)
 
 
491,000
 
 
523,848
 
Aragonite Re 2024-1 Class A, 8.97% (Treasury Money Market Fund + 5.45%), 04/07/2027
(Acquired 3/25/2024, Cost $627,000) (b)(c)(d)
 
 
627,000
 
 
644,619
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Multiperil - 0.7% (Continued)
 
Bridge Street Re 2025-2 Class A, 11.40% (3 Month U.S. Treasury Bill Rate + 7.75%), 01/08/2029 (Acquired 12/22/2025, Cost $1,510,000) (b)(c)(d)
 
 
$
1,510,000
 
 
$1,507,735
 
Herbie Re 2025-1 Class A, 34.54% (Treasury Money Market Fund + 31.00%), 06/07/2027
(Acquired 5/27/2025, Cost $261,000) (b)(c)(d)
 
 
261,000
 
 
292,385
 
Kendall Re 2024-1 Class A, 9.77% (Treasury Money Market Fund + 6.25%), 04/30/2027
(Acquired 4/22/2024, Cost $1,023,000) (b)(c)(d)
 
 
1,023,000
 
 
1,062,386
 
Matterhorn Re 2025-1 Class A, 10.53% (Treasury Money Market Fund + 7.00%), 02/04/2028 (Acquired 1/24/2025, Cost $283,000) (b)(c)(d)
 
 
283,000
 
 
284,613
 
Matterhorn Re 2025-1 Class B, 15.78% (Treasury Money Market Fund + 12.25%), 02/04/2028 (Acquired 1/24/2025, Cost $432,000) (b)(c)(d)
 
 
432,000
 
 
440,078
 
Matterhorn Re SR2020-2 Class A, 5.03% (Treasury Money Market Fund + 1.50%), 01/08/2027 (Acquired 1/29/2020, Cost $1,787,826) (b)(c)(d)(f)
 
 
1,787,826
 
 
1,430,260
 
Montoya Re 2022-2 Class A, 16.92% (Treasury Money Market Fund + 13.40%), 04/07/2026 (Acquired 12/8/2022 - 12/5/2024, Cost $479,458) (b)(c)(d)
 
 
476,000
 
 
484,854
 
Northshore Re II 2025-1 Class A, 8.53% (Treasury Money Market Fund + 5.00%), 04/07/2028 (Acquired 3/14/2025, Cost $897,000) (b)(c)(d)
 
 
897,000
 
 
908,257
 
Ocelot Re 2025-1 Class A, 8.03% (Treasury Money Market Fund + 4.50%), 02/26/2029
(Acquired 2/14/2025, Cost $1,407,000) (b)(c)(d)
 
 
1,407,000
 
 
1,436,688
 
Wrigley Re 2023-1 Class A, 9.75% (Treasury Money Market Fund + 6.23%), 08/07/2026
(Acquired 7/14/2023, Cost $507,000) (b)(c)(d)
 
 
507,000
 
 
517,115
 
 
 
 
 
9,532,838
 
 
 
13,489,589
 
Great Britain - 0.2%
 
Flood - 0.1%
 
Vision 2039 2025-1 Class A, 9.40% (3 Month U.S. Treasury Bill Rate + 5.75%), 04/06/2028
(Acquired 3/10/2025, Cost $1,282,745) (b)(c)(d)
 
 
GBP
996,000
 
 
1,364,507
 
Terrorism - 0.1%
 
Baltic PCC 2025-1 Class A, 9.55% (3 Month U.S. Treasury Bill Rate + 5.90%), 04/06/2028
(Acquired 3/24/2025, Cost $705,490) (b)(c)(d)(h)
 
 
546,000
 
 
747,116
 
 
 
2,111,623
 
Israel - 0.0% (e)
 
Earthquake - 0.0% (e)
 
Turris Re 2025-1 Class A, 5.94% (Treasury Money Market Fund + 2.40%), 01/08/2029
(Acquired 11/28/2025, Cost $687,000) (b)(c)(d)
 
 
$
687,000
 
 
686,347
 
Japan - 0.2%
 
Earthquake - 0.1%
 
Kizuna Re III 2024-1 Class A, 6.40% (3 Month U.S. Treasury Bill Rate + 2.75%), 04/09/2029
(Acquired 3/13/2024, Cost $266,000) (b)(c)(d)
 
 
266,000
 
 
270,123
 
Nakama Re 2023-1 Class 2, 7.47% (3 Month Term SOFR + 4.00%), 05/09/2028
(Acquired 4/14/2023, Cost $802,000) (b)(c)(d)
 
 
802,000
 
 
826,341
 
Nakama Re 2025-1 Class 1, 5.75% (3 Month U.S. Treasury Bill Rate + 2.10%), 04/23/2030
(Acquired 4/11/2025, Cost $268,000) (b)(c)(d)
 
 
268,000
 
 
269,930
 
Nakama Re Pte. 2021-1 Class 1, 5.59% (Treasury Money Market Fund + 2.05%), 10/13/2026 (Acquired 2/8/2024, Cost $306,486) (b)(c)(d)
 
 
307,000
 
 
306,923
 
 
 
 
 
1,673,317
 
Multiperil - 0.1%
 
Tomoni Re Pte 2024-1 Class A, 6.79% (Treasury Money Market Fund + 3.25%), 04/05/2028 (Acquired 3/25/2024, Cost $679,000) (b)(c)(d)
 
 
679,000
 
 
683,617
 
Tomoni Re Pte 2024-1 Class B, 7.54% (Treasury Money Market Fund + 4.00%), 04/05/2028 (Acquired 3/25/2024, Cost $853,000) (b)(c)(d)
 
 
853,000
 
 
868,141
 
 
 
 
 
1,551,758
 
 
 
3,225,075
 
 
 
 
 
(Continued)
2
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Mexico - 0.3%
 
Earthquake - 0.2%
 
IBRD CAR 132 Class A, 7.90% (SOFR + 4.22%), 04/24/2028 (Acquired 4/3/2024,
Cost $1,865,000) (b)(c)(d)
 
 
$
1,865,000
 
 
$1,902,860
 
IBRD CAR 133 Class B, 14.90% (SOFR + 11.22%), 04/24/2028 (Acquired 4/3/2024,
Cost $651,000) (b)(c)(d)
 
 
651,000
 
 
657,640
 
 
 
 
 
2,560,500
 
Windstorm - 0.1%
 
IBRD CAR 134 Class C, 17.39% (SOFR + 13.72%), 04/24/2028 (Acquired 4/3/2024, Cost $1,408,000) (b)(c)(d)
 
 
1,408,000
 
 
1,498,182
 
IBRD CAR 135 Class D, 15.89% (SOFR + 12.22%), 04/24/2028 (Acquired 5/1/2024, Cost $613,000) (b)(c)(d)
 
 
613,000
 
 
658,086
 
 
 
 
 
2,156,268
 
 
 
4,716,768
 
New Zealand - 0.1%
 
Multiperil - 0.1%
 
Totara Re Pte. 2023-1, 13.39%, 06/08/2027 (Acquired 5/24/2023, Cost $1,325,283) (b)(c)(d)
 
 
NZD
2,171,000
 
 
1,338,403
 
United States - 16.4%
 
Brushfire - 0.3%
 
Golden Bear Re 2026-1 Class A, 13.40% (3 Month U.S. Treasury Bill Rate + 9.75%), 01/08/2029 (Acquired 12/10/2025, Cost $3,900,000) (b)(c)(d)
 
 
$
3,900,000
 
 
3,900,390
 
Earthquake - 2.5%
 
Acorn Re 2023-1 Class A, 7.88% (Treasury Money Market Fund + 4.35%), 11/06/2026
(Acquired 6/22/2023, Cost $1,096,000) (b)(c)(d)
 
 
1,096,000
 
 
1,113,317
 
Acorn Re 2024-1 Class A, 6.63% (Treasury Money Market Fund + 3.10%), 11/05/2027
(Acquired 10/25/2024, Cost $1,080,000) (b)(c)(d)
 
 
1,080,000
 
 
1,095,228
 
Herbie Re 2022-1 Class A, 17.03% (Treasury Money Market Fund + 13.50%), 01/08/2027
(Acquired 11/18/2022, Cost $392,000) (b)(c)(d)(f)
 
 
392,000
 
 
409,797
 
Sutter Re 2023-1 Class B, 10.27% (Treasury Money Market Fund + 6.75%), 06/19/2026
(Acquired 6/6/2023 - 5/3/2024, Cost $1,973,686) (b)(c)(d)
 
 
1,973,000
 
 
1,995,689
 
Sutter Re 2023-1 Class E, 13.27% (Treasury Money Market Fund + 9.75%), 06/19/2026
(Acquired 6/6/2023 - 9/26/2023, Cost $2,177,529) (b)(c)(d)
 
 
2,177,000
 
 
2,223,479
 
Torrey Pines Re 2023-1 Class A, 8.85% (Treasury Money Market Fund + 5.31%), 06/05/2026 (Acquired 5/18/2023, Cost $1,132,000) (b)(c)(d)
 
 
1,132,000
 
 
1,137,943
 
Torrey Pines Re 2024-1 Class A, 9.58% (Treasury Money Market Fund + 6.04%), 06/07/2027 (Acquired 5/17/2024, Cost $1,862,000) (b)(c)(d)
 
 
1,862,000
 
 
1,935,735
 
Torrey Pines Re 2024-1 Class B, 10.65% (Treasury Money Market Fund + 7.11%), 06/07/2027 (Acquired 5/17/2024, Cost $1,263,000) (b)(c)(d)
 
 
1,263,000
 
 
1,310,110
 
Torrey Pines Re 2024-1 Class C, 12.91% (Treasury Money Market Fund + 9.38%), 06/05/2026 (Acquired 5/17/2024, Cost $598,000) (b)(c)(d)
 
 
598,000
 
 
606,163
 
Torrey Pines Re 2025-1 Class A, 7.28% (Treasury Money Market Fund + 3.75%), 06/07/2028 (Acquired 4/25/2025, Cost $913,000) (b)(c)(d)
 
 
913,000
 
 
935,871
 
Torrey Pines Re 2025-1 Class B, 8.03% (Treasury Money Market Fund + 4.50%), 06/07/2028 (Acquired 4/25/2025, Cost $1,016,000) (b)(c)(d)
 
 
1,016,000
 
 
1,037,184
 
Torrey Pines Re 2025-1 Class C, 10.03% (Treasury Money Market Fund + 6.50%), 06/07/2028 (Acquired 4/25/2025, Cost $913,000) (b)(c)(d)
 
 
913,000
 
 
938,747
 
Ursa Re 2023-2 Class E, 12.79% (Treasury Money Market Fund + 9.25%), 12/07/2026
(Acquired 10/10/2023, Cost $2,489,000) (b)(c)(d)
 
 
2,489,000
 
 
2,568,150
 
Ursa Re 2023-3 Class AA, 9.07% (Treasury Money Market Fund + 5.50%), 12/07/2026
(Acquired 12/1/2023, Cost $2,194,000) (b)(c)(d)
 
 
2,194,000
 
 
2,243,804
 
Ursa Re 2023-3 Class D, 12.32% (Treasury Money Market Fund + 8.75%), 12/07/2026
(Acquired 12/1/2023 - 5/17/2024, Cost $2,616,573) (b)(c)(d)
 
 
2,614,000
 
 
2,694,773
 
Ursa Re 2025-1 Class F, 11.02% (Treasury Money Market Fund + 7.50%), 02/22/2028
(Acquired 2/10/2025, Cost $2,333,000) (b)(c)(d)
 
 
2,333,000
 
 
2,361,813
 
Ursa Re II 2025-1 Class G, 12.53% (Treasury Money Market Fund + 9.00%), 06/07/2028
(Acquired 6/6/2025, Cost $3,086,000) (b)(c)(d)
 
 
3,086,000
 
 
3,131,981
 
 
 
 
 
 
 
 
 
(Continued)
 
 
 
 
 
 
3
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Earthquake - 2.5% (Continued)
 
Veraison Re 2023-1 Class A, 10.32% (Treasury Money Market Fund + 6.79%), 03/09/2026
(Acquired 12/14/2022, Cost $760,000) (b)(c)(d)
 
 
$
760,000
 
 
$762,356
 
Veraison Re 2023-1 Class B, 16.16% (Treasury Money Market Fund + 12.63%), 03/09/2026
(Acquired 12/14/2022, Cost $729,000) (b)(c)(d)
 
 
729,000
 
 
732,900
 
Veraison Re 2024-1 Class A, 8.26% (Treasury Money Market Fund + 4.74%), 03/08/2027
(Acquired 1/30/2024 - 2/3/2025, Cost $1,100,705) (b)(c)(d)
 
 
1,096,000
 
 
1,121,372
 
Veraison Re 2025-1 Class A, 7.02% (Treasury Money Market Fund + 3.50%), 03/08/2028
(Acquired 1/30/2025, Cost $1,795,000) (b)(c)(d)
 
 
1,795,000
 
 
1,816,719
 
Veraison Re 2025-1 Class B, 8.52% (Treasury Money Market Fund + 5.00%), 03/08/2028
(Acquired 1/30/2025, Cost $852,000) (b)(c)(d)
 
 
852,000
 
 
869,423
 
Veraison Re 2026-1 Class B, 0.00% (Treasury Money Market Fund + 0.50%), 03/08/2029
(Acquired 1/30/2026, Cost $625,000) (b)(c)(d)
 
 
625,000
 
 
625,000
 
Wrigley Re 2023-1 Class B, 10.22% (Treasury Money Market Fund + 6.70%), 08/07/2026
(Acquired 7/14/2023, Cost $1,166,000) (b)(c)(d)
 
 
1,166,000
 
 
1,183,140
 
 
 
 
 
34,850,694
 
Fire - 0.0% (e)
 
Greengrove Re 2025-1 Class A, 11.32% (3 Month U.S. Treasury Bill Rate + 7.75%), 04/07/2028 (Acquired 3/19/2025, Cost $422,000) (b)(c)(d)
 
 
422,000
 
 
434,112
 
Flood - 0.4%
 
FloodSmart Re 2022-1 Class B, 4.02% (Treasury Money Market Fund + 0.50%), 02/26/2029 (Acquired 10/24/2023, Cost $52,645) (b)(c)(d)(f)
 
 
52,645
 
 
32,903
 
FloodSmart Re 2024-1 Class A, 17.88% (Treasury Money Market Fund + 14.36%), 03/12/2027 (Acquired 2/29/2024, Cost $4,099,000) (b)(c)(d)
 
 
4,099,000
 
 
4,363,386
 
FloodSmart Re 2024-1 Class B, 21.15% (Treasury Money Market Fund + 17.63%), 03/12/2027 (Acquired 2/29/2024, Cost $967,000) (b)(c)(d)
 
 
967,000
 
 
994,946
 
 
 
 
 
5,391,235
 
Mortality/Longevity/Disease - 0.2%
 
Vitality Re XIV 2023 Class A, 7.02% (Treasury Money Market Fund + 3.50%), 01/05/2027
(Acquired 3/7/2024 - 3/14/2024, Cost $632,968) (b)(c)(d)
 
 
629,000
 
 
637,366
 
Vitality Re XIV 2023 Class B, 8.02% (Treasury Money Market Fund + 4.50%), 01/05/2027
(Acquired 1/25/2023, Cost $334,000) (b)(c)(d)
 
 
334,000
 
 
340,329
 
Vitality Re XV 2024 Class A, 6.02% (Treasury Money Market Fund + 2.50%), 01/07/2028
(Acquired 1/22/2024, Cost $372,000) (b)(c)(d)
 
 
372,000
 
 
375,329
 
Vitality Re XV 2024 Class B, 7.02% (Treasury Money Market Fund + 3.50%), 01/07/2028
(Acquired 1/22/2024, Cost $255,000) (b)(c)(d)
 
 
255,000
 
 
260,062
 
Vitality Re XVI 2025 Class A, 5.28% (Treasury Money Market Fund + 1.75%), 01/08/2029
(Acquired 1/23/2025, Cost $359,000) (b)(c)(d)
 
 
359,000
 
 
356,990
 
Vitality Re XVII 2026 Class B, 5.92% (Treasury Money Market Fund + 2.40%), 01/08/2030
(Acquired 1/22/2026, Cost $257,000) (b)(c)(d)
 
 
257,000
 
 
256,987
 
 
 
 
 
2,227,063
 
Multiperil - 5.1%
 
Aquila Re I 2023-1 Class A-1, 8.91% (Treasury Money Market Fund + 5.34%), 06/08/2026
(Acquired 5/10/2023, Cost $265,000) (b)(c)(d)
 
 
265,000
 
 
268,154
 
Aquila Re I 2023-1 Class B-1, 10.83% (Treasury Money Market Fund + 7.26%), 06/08/2026
(Acquired 5/10/2023, Cost $1,079,000) (b)(c)(d)
 
 
1,079,000
 
 
1,098,530
 
Aquila Re I 2023-1 Class C-1, 12.40% (Treasury Money Market Fund + 8.83%), 06/08/2026
(Acquired 5/10/2023 - 2/24/2025, Cost $1,533,706) (b)(c)(d)
 
 
1,530,000
 
 
1,565,266
 
Aquila Re I 2024-1 Class A-1, 8.92% (Treasury Money Market Fund + 5.39%), 06/07/2027
(Acquired 4/26/2024, Cost $492,000) (b)(c)(d)
 
 
492,000
 
 
506,563
 
Aquila Re I 2024-1 Class B-1, 11.88% (Treasury Money Market Fund + 8.35%), 06/07/2027
(Acquired 4/26/2024, Cost $299,000) (b)(c)(d)
 
 
299,000
 
 
314,922
 
Baldwin Re 2023-1 Class A, 8.58% (Treasury Money Market Fund + 5.05%), 07/07/2027
(Acquired 6/21/2023, Cost $423,000) (b)(c)(d)
 
 
423,000
 
 
433,935
 
Baldwin Re 2025-1 Class A, 7.28% (Treasury Money Market Fund + 3.75%), 07/09/2029
(Acquired 6/16/2025, Cost $1,024,000) (b)(c)(d)
 
 
1,024,000
 
 
1,044,480
 
 
 
 
 
 
 
 
 
(Continued)
4
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Multiperil - 5.1% (Continued)
 
Bluebonnet Re 2025-2 Class A, 15.54% (Treasury Money Market Fund + 12.00%), 06/07/2027 (Acquired 5/8/2025, Cost $1,145,000) (b)(c)(d)
 
 
$
1,145,000
 
 
$1,202,422
 
Bonanza Re 2024-1 Class C, 9.03% (Treasury Money Market Fund + 5.50%), 12/19/2027
(Acquired 12/16/2024, Cost $802,000) (b)(c)(d)
 
 
802,000
 
 
816,957
 
Bridge Street Re 2025-1 Class A, 7.54% (Treasury Money Market Fund + 4.00%), 01/07/2028 (Acquired 12/24/2024, Cost $1,018,000) (b)(c)(d)
 
 
1,018,000
 
 
1,029,503
 
Commonwealth Re 2025-1 Class A, 7.29% (Treasury Money Market Fund + 3.75%), 07/10/2028 (Acquired 5/30/2025, Cost $912,000) (b)(c)(d)
 
 
912,000
 
 
935,712
 
Foundation Re 2023-1 Class A, 9.79% (Treasury Money Market Fund + 6.25%), 01/08/2027 (Acquired 12/19/2023, Cost $968,000) (b)(c)(d)
 
 
968,000
 
 
992,297
 
Four Lakes Re 2023-1 Class A, 9.33% (Treasury Money Market Fund + 5.80%), 01/07/2027
(Acquired 12/8/2023, Cost $314,000) (b)(c)(d)
 
 
314,000
 
 
317,925
 
Four Lakes Re 2024-1 Class A, 9.03% (Treasury Money Market Fund + 5.50%), 01/07/2028
(Acquired 12/11/2024, Cost $859,000) (b)(c)(d)
 
 
859,000
 
 
875,579
 
Four Lakes Re 2024-1 Class B, 11.78% (Treasury Money Market Fund + 8.25%), 01/07/2028 (Acquired 12/11/2024, Cost $341,000) (b)(c)(d)
 
 
341,000
 
 
346,320
 
Fuchsia 2 2024-1 Class A, 8.68% (Treasury Money Market Fund + 5.14%), 04/06/2028
(Acquired 12/18/2024, Cost $1,324,000) (b)(c)(d)
 
 
1,324,000
 
 
1,362,330
 
Fuchsia 2023-1 Class A, 13.83% (Treasury Money Market Fund + 10.29%), 04/06/2027
(Acquired 12/14/2023, Cost $815,000) (b)(c)(d)
 
 
815,000
 
 
852,571
 
Galileo Re 2023-1 Class A, 10.52% (Treasury Money Market Fund + 7.00%), 01/07/2028
(Acquired 12/4/2023, Cost $1,313,000) (b)(c)(d)
 
 
1,313,000
 
 
1,369,656
 
Herbie Re 2024-2 Class A, 10.79% (Treasury Money Market Fund + 7.25%), 01/08/2029
(Acquired 12/17/2024, Cost $462,000) (b)(c)(d)
 
 
462,000
 
 
467,914
 
Herbie Re 2024-2 Class B, 14.29% (Treasury Money Market Fund + 10.75%), 01/08/2029
(Acquired 12/17/2024, Cost $462,000) (b)(c)(d)
 
 
462,000
 
 
480,896
 
Herbie Re 2024-2 Class C, 26.54% (Treasury Money Market Fund + 23.00%), 01/08/2027
(Acquired 12/17/2024, Cost $402,000) (b)(c)(d)
 
 
402,000
 
 
401,538
 
High Point Re 2023-1 Class A, 9.17% (Treasury Money Market Fund + 5.64%), 01/06/2027
(Acquired 12/1/2023, Cost $2,582,000) (b)(c)(d)(g)
 
 
2,582,000
 
 
2,610,531
 
Hypatia Ltd. 2023-1 Class A, 14.02% (Treasury Money Market Fund + 10.50%), 04/08/2026 (Acquired 3/27/2023, Cost $377,000) (b)(c)(d)
 
 
377,000
 
 
381,185
 
Locke Tavern Re 2023-1 Class A, 8.49% (Treasury Money Market Fund + 4.96%), 04/09/2026 (Acquired 3/23/2023 - 8/21/2023, Cost $1,161,570) (b)(c)(d)
 
 
1,161,000
 
 
1,166,457
 
Long Point Re IV 2022-1 Class A, 7.78% (Treasury Money Market Fund + 4.25%), 06/01/2026 (Acquired 9/28/2023, Cost $259,956) (b)(c)(d)
 
 
261,000
 
 
262,383
 
Merna Re II 2023-1 Class A, 11.90% (Treasury Money Market Fund + 8.38%), 07/07/2026
(Acquired 4/5/2023, Cost $1,066,000) (b)(c)(d)
 
 
1,066,000
 
 
1,097,021
 
Merna Re II 2023-2 Class A, 13.99% (Treasury Money Market Fund + 10.47%), 07/07/2026
(Acquired 4/5/2023, Cost $1,279,000) (b)(c)(d)
 
 
1,279,000
 
 
1,322,230
 
Merna Re II 2024-1 Class A, 10.99% (Treasury Money Market Fund + 7.47%), 07/07/2027
(Acquired 5/8/2024, Cost $1,379,000) (b)(c)(d)
 
 
1,379,000
 
 
1,442,503
 
Merna Re II 2024-2 Class A, 12.27% (Treasury Money Market Fund + 8.75%), 07/07/2027
(Acquired 5/8/2024, Cost $1,758,000) (b)(c)(d)
 
 
1,758,000
 
 
1,838,428
 
Merna Re II 2024-3 Class A, 12.01% (Treasury Money Market Fund + 8.49%), 07/07/2027
(Acquired 5/8/2024, Cost $2,931,000) (b)(c)(d)
 
 
2,931,000
 
 
3,036,223
 
Merna Re II 2025-3 Class A, 10.54% (Treasury Money Market Fund + 7.00%), 07/07/2028
(Acquired 5/14/2025, Cost $1,945,000) (b)(c)(d)
 
 
1,945,000
 
 
2,040,888
 
Merna Re II 2025-4 Class A, 11.29% (Treasury Money Market Fund + 7.75%), 07/07/2028
(Acquired 5/14/2025, Cost $2,004,000) (b)(c)(d)
 
 
2,004,000
 
 
2,050,593
 
Mona Lisa Re 2024-1 Class A, 13.28% (Treasury Money Market Fund + 9.75%), 06/25/2027 (Acquired 1/23/2025, Cost $317,507) (b)(c)(d)
 
 
299,000
 
 
321,096
 
Mona Lisa Re 2025-1 Class A, 11.53% (Treasury Money Market Fund + 8.00%), 01/08/2029 (Acquired 12/3/2024, Cost $648,000) (b)(c)(d)
 
 
648,000
 
 
659,016
 
Mona Lisa Re 2025-1 Class B, 14.03% (Treasury Money Market Fund + 10.50%), 01/07/2028 (Acquired 12/3/2024, Cost $678,000) (b)(c)(d)
 
 
678,000
 
 
690,543
 
 
 
 
 
 
 
 
 
(Continued)
 
 
 
 
 
 
5
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Multiperil - 5.1% (Continued)
 
Montoya Re 2025-2 Class A, 8.90% (3 Month U.S. Treasury Bill Rate + 5.25%), 04/09/2030
(Acquired 12/12/2025, Cost $446,000) (b)(c)(d)
 
 
$
446,000
 
 
$445,063
 
Mountain Re 2023-1 Class A, 10.31% (Treasury Money Market Fund + 6.74%), 06/05/2026
(Acquired 5/24/2023 - 3/5/2024, Cost $805,451) (b)(c)(d)
 
 
804,000
 
 
818,914
 
Mystic Re IV 2025-1 Class A, 7.52% (Treasury Money Market Fund + 4.00%), 01/10/2028
(Acquired 12/17/2024, Cost $446,000) (b)(c)(d)
 
 
446,000
 
 
450,237
 
Mystic Re IV 2025-1 Class B, 13.77% (Treasury Money Market Fund + 10.25%), 01/10/2028 (Acquired 12/17/2024, Cost $282,000) (b)(c)(d)
 
 
282,000
 
 
288,951
 
Mystic Re IV 2025-1 Class C, 17.52% (Treasury Money Market Fund + 14.00%), 01/10/2028 (Acquired 12/17/2024, Cost $714,000) (b)(c)(d)
 
 
714,000
 
 
660,450
 
Mystic Re IV 2026-1 Class A, 6.77% (Treasury Money Market Fund + 3.25%), 01/08/2029
(Acquired 12/11/2025, Cost $287,000) (b)(c)(d)
 
 
287,000
 
 
286,412
 
Mystic Re IV 2026-1 Class B, 10.42% (Treasury Money Market Fund + 6.90%), 01/08/2029
(Acquired 12/11/2025, Cost $488,000) (b)(c)(d)
 
 
488,000
 
 
486,438
 
Residential Re 2019-I Class 12, 3.62% (Treasury Money Market Fund + 0.10%), 06/06/2026 (Acquired 5/8/2019, Cost $84,167) (b)(c)(d)(f)
 
 
84,167
 
 
38,258
 
Residential Re 2021-I Class 12, 9.03% (Treasury Money Market Fund + 5.51%), 06/06/2028 (Acquired 7/12/2023, Cost $301,000) (b)(c)(d)(f)
 
 
301,000
 
 
165,550
 
Residential Re 2022-I Class 14, 7.52% (Treasury Money Market Fund + 4.00%), 06/06/2026 (Acquired 7/12/2022, Cost $1,989,000) (b)(c)(d)
 
 
2,000,000
 
 
2,012,200
 
Residential Re 2023-I Class 13, 14.61% (Treasury Money Market Fund + 11.04%), 06/06/2027 (Acquired 4/28/2023, Cost $1,887,000) (b)(c)(d)(f)
 
 
1,887,000
 
 
1,037,850
 
Residential Re 2023-I Class 14, 10.28% (Treasury Money Market Fund + 6.76%), 06/06/2027 (Acquired 4/28/2023 - 9/22/2023, Cost $3,066,372) (b)(c)(d)
 
 
3,072,000
 
 
3,138,048
 
Residential Re 2023-II Class 3, 12.24% (Treasury Money Market Fund + 8.70%), 12/06/2027 (Acquired 11/7/2023, Cost $817,000) (b)(c)(d)
 
 
817,000
 
 
852,907
 
Residential Re 2023-II Class 5, 9.51% (Treasury Money Market Fund + 5.97%), 12/06/2027
(Acquired 11/7/2023, Cost $1,906,000) (b)(c)(d)
 
 
1,906,000
 
 
1,992,056
 
Residential Re 2024-I Class 14, 9.52% (Treasury Money Market Fund + 5.98%), 06/06/2028 (Acquired 4/25/2024, Cost $439,000) (b)(c)(d)
 
 
439,000
 
 
438,912
 
Residential Re 2024-II Class 2, 16.94% (Treasury Money Market Fund + 13.42%), 12/06/2028 (Acquired 11/4/2024, Cost $418,000) (b)(c)(d)
 
 
418,000
 
 
442,641
 
Residential Re 2024-II Class 3, 10.48% (Treasury Money Market Fund + 6.94%), 12/06/2028 (Acquired 11/4/2024, Cost $1,096,000) (b)(c)(d)
 
 
1,096,000
 
 
1,122,030
 
Residential Re 2024-II Class 4, 8.92% (Treasury Money Market Fund + 5.38%), 12/06/2028
(Acquired 11/4/2024, Cost $888,000) (b)(c)(d)
 
 
888,000
 
 
913,796
 
Residential Re 2025-I Class 13, 16.54% (3 Month U.S. Treasury Bill Rate + 13.00%), 06/06/2029 (Acquired 5/2/2025, Cost $266,000) (b)(c)(d)
 
 
266,000
 
 
270,602
 
Residential Re 2025-I Class 14, 11.29% (3 Month U.S. Treasury Bill Rate + 7.75%), 06/06/2029 (Acquired 5/2/2025, Cost $725,000) (b)(c)(d)
 
 
725,000
 
 
752,550
 
Residential Re 2025-I Class 15, 9.27% (3 Month U.S. Treasury Bill Rate + 5.75%), 06/06/2029 (Acquired 5/2/2025, Cost $1,006,000) (b)(c)(d)
 
 
1,006,000
 
 
1,041,713
 
Residential Re 2025-II Class 2, 13.77% (Treasury Money Market Fund + 10.25%), 12/06/2029 (Acquired 10/17/2025, Cost $420,000) (b)(c)(d)
 
 
420,000
 
 
419,181
 
Residential Re 2025-II Class 5, 6.79% (Treasury Money Market Fund + 3.25%), 12/06/2029
(Acquired 10/17/2025, Cost $420,000) (b)(c)(d)
 
 
420,000
 
 
417,438
 
Riverfront Re 2025 Class A, 9.02% (Treasury Money Market Fund + 5.50%), 01/08/2029
(Acquired 4/21/2025, Cost $677,000) (b)(c)(d)
 
 
677,000
 
 
717,654
 
Sanders Re II 2024-3 Class A, 7.52% (Treasury Money Market Fund + 3.99%), 04/07/2029
(Acquired 12/10/2024, Cost $1,446,000) (b)(c)(d)(g)
 
 
1,446,000
 
 
1,470,510
 
Sanders Re II 2024-3 Class B, 8.89% (Treasury Money Market Fund + 5.36%), 04/07/2029
(Acquired 12/10/2024, Cost $1,475,000) (b)(c)(d)(g)
 
 
1,475,000
 
 
1,519,471
 
Sanders Re II 2025-1 Class A, 7.52% (Treasury Money Market Fund + 4.00%), 04/07/2028
(Acquired 3/13/2025, Cost $1,074,000) (b)(c)(d)
 
 
1,074,000
 
 
1,104,233
 
Sanders Re II 2025-1 Class A-2, 7.77% (Treasury Money Market Fund + 4.25%), 04/08/2030 (Acquired 3/13/2025, Cost $942,000) (b)(c)(d)
 
 
942,000
 
 
990,278
 
 
 
 
 
 
 
 
 
(Continued)
6
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Multiperil - 5.1% (Continued)
 
Sanders Re II 2025-1 Class B-1, 8.02% (Treasury Money Market Fund + 4.50%), 04/07/2028 (Acquired 3/13/2025, Cost $618,000) (b)(c)(d)
 
 
$
618,000
 
 
$633,883
 
Sanders Re II 2025-1 Class B-2, 8.27% (Treasury Money Market Fund + 4.75%), 04/08/2030 (Acquired 3/13/2025, Cost $1,854,000) (b)(c)(d)
 
 
1,854,000
 
 
1,955,877
 
Sanders Re II 2025-2 Class A-1, 10.53% (Treasury Money Market Fund + 7.00%), 06/07/2028 (Acquired 5/22/2025, Cost $304,000) (b)(c)(d)
 
 
304,000
 
 
317,148
 
Sanders Re III 2022-1 Class A, 6.87% (Treasury Money Market Fund + 3.34%), 04/07/2026
(Acquired 9/28/2023, Cost $896,210) (b)(c)(d)
 
 
900,000
 
 
900,540
 
Sanders Re III 2022-3 Class A, 9.52% (Treasury Money Market Fund + 5.99%), 04/07/2027
(Acquired 12/1/2022, Cost $789,000) (b)(c)(d)(f)
 
 
789,000
 
 
818,430
 
Sanders Re III 2023-1 Class A, 9.00% (Treasury Money Market Fund + 5.47%), 04/07/2027
(Acquired 3/24/2023, Cost $423,000) (b)(c)(d)
 
 
423,000
 
 
434,886
 
Sanders Re III 2023-1 Class B, 19.37% (Treasury Money Market Fund + 15.84%), 04/07/2027 (Acquired 3/24/2023, Cost $528,000) (b)(c)(d)
 
 
528,000
 
 
533,834
 
Sanders Re III 2023-2 Class A, 11.25% (Treasury Money Market Fund + 7.72%), 06/05/2026 (Acquired 5/24/2023, Cost $2,129,000) (b)(c)(d)
 
 
2,129,000
 
 
2,172,857
 
Sanders Re III 2024-1 Class A, 9.09% (Treasury Money Market Fund + 5.56%), 04/07/2028
(Acquired 1/16/2024, Cost $1,627,000) (b)(c)(d)
 
 
1,627,000
 
 
1,699,483
 
Skyline Re II 2025-1 Class A, 7.15% (3 Month U.S. Treasury Bill Rate + 3.50%), 01/07/2030
(Acquired 12/23/2025, Cost $403,000) (b)(c)(d)
 
 
403,000
 
 
402,295
 
Solomon Re 2023-1 Class A, 9.04% (Treasury Money Market Fund + 5.52%), 06/08/2026
(Acquired 6/12/2023, Cost $379,000) (b)(c)(d)
 
 
379,000
 
 
383,851
 
Stabilitas Re 2023-1 Class A, 12.01% (Treasury Money Market Fund + 8.48%), 06/05/2026
(Acquired 1/16/2025, Cost $339,557) (b)(c)(d)
 
 
336,000
 
 
342,048
 
Titania Re 2024-1 Class A, 9.77% (Treasury Money Market Fund + 6.25%), 11/26/2027
(Acquired 11/14/2024, Cost $566,000) (b)(c)(d)
 
 
566,000
 
 
570,500
 
Titania Re 2024-1 Class B, 13.02% (Treasury Money Market Fund + 9.50%), 11/26/2027
(Acquired 11/14/2024, Cost $535,000) (b)(c)(d)
 
 
535,000
 
 
538,477
 
Yosemite Re 2025-1 Class A, 10.77% (Treasury Money Market Fund + 7.25%), 06/07/2028
(Acquired 3/18/2025, Cost $497,000) (b)(c)(d)
 
 
497,000
 
 
524,186
 
 
 
 
 
72,125,205
 
Windstorm - 7.9%
 
1886 Re 2025-1 Class A, 8.03% (Treasury Money Market Fund + 4.50%), 07/09/2029
(Acquired 5/15/2025, Cost $427,000) (b)(c)(d)
 
 
427,000
 
 
443,525
 
Alamo Re 2023-1 Class A, 12.60% (Treasury Money Market Fund + 9.08%), 06/07/2026
(Acquired 4/12/2023, Cost $2,579,000) (b)(c)(d)
 
 
2,579,000
 
 
2,642,057
 
Alamo Re 2024-1 Class A, 10.06% (Treasury Money Market Fund + 6.54%), 06/07/2027
(Acquired 4/4/2024 - 3/12/2025, Cost $3,870,961) (b)(c)(d)
 
 
3,865,000
 
 
4,039,505
 
Alamo Re 2024-1 Class B, 11.95% (Treasury Money Market Fund + 8.43%), 06/07/2027
(Acquired 4/4/2024, Cost $4,761,000) (b)(c)(d)
 
 
4,761,000
 
 
5,028,806
 
Alamo Re 2024-1 Class C, 15.40% (Treasury Money Market Fund + 11.88%), 06/07/2026
(Acquired 4/4/2024, Cost $3,851,000) (b)(c)(d)
 
 
3,851,000
 
 
3,983,282
 
Armor Re II 2024-1 Class A, 13.73% (Treasury Money Market Fund + 10.20%), 05/07/2027
(Acquired 4/11/2024, Cost $1,321,000) (b)(c)(d)
 
 
1,321,000
 
 
1,406,337
 
Armor Re II 2024-2 Class A, 12.03% (Treasury Money Market Fund + 8.50%), 01/07/2028
(Acquired 12/11/2024, Cost $548,000) (b)(c)(d)
 
 
548,000
 
 
579,894
 
Bayou Re 2023-1 Class A, 15.93% (Treasury Money Market Fund + 12.39%), 05/26/2026
(Acquired 5/11/2023, Cost $750,000) (b)(c)(d)
 
 
750,000
 
 
774,187
 
Bayou Re 2023-1 Class B, 22.58% (Treasury Money Market Fund + 19.04%), 05/26/2026
(Acquired 5/11/2023, Cost $1,206,000) (b)(c)(d)
 
 
1,206,000
 
 
1,268,833
 
Bayou Re 2024-1 Class A, 11.90% (Treasury Money Market Fund + 8.33%), 04/30/2027
(Acquired 4/18/2024, Cost $1,257,000) (b)(c)(d)
 
 
1,257,000
 
 
1,319,159
 
Bayou Re 2024-1 Class B, 22.07% (Treasury Money Market Fund + 18.50%), 04/30/2027
(Acquired 4/18/2024, Cost $419,000) (b)(c)(d)
 
 
419,000
 
 
453,903
 
Bayou Re 2025-1 Class A, 10.57% (Treasury Money Market Fund + 7.00%), 05/08/2028
(Acquired 4/21/2025, Cost $992,000) (b)(c)(d)
 
 
992,000
 
 
996,315
 
 
 
 
 
 
 
 
 
(Continued)
 
 
 
 
 
 
7
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Windstorm - 7.9% (Continued)
 
Blue Ridge Re 2023-1 Class A, 8.77% (Treasury Money Market Fund + 5.25%), 01/08/2027
(Acquired 11/14/2023, Cost $2,068,000) (b)(c)(d)
 
 
$
2,068,000
 
 
$2,103,156
 
Blue Ridge Re 2023-1 Class B, 11.51% (Treasury Money Market Fund + 7.99%), 01/08/2027 (Acquired 11/14/2023, Cost $2,518,000) (b)(c)(d)(g)
 
 
2,518,000
 
 
2,591,400
 
Blue Ridge Re 2025-1 Class A, 7.02% (Treasury Money Market Fund + 8.00%), 01/08/2029
(Acquired 11/26/2025, Cost $587,000) (b)(c)(d)
 
 
587,000
 
 
584,799
 
Blue Ridge Re 2025-1 Class B, 9.52% (Treasury Money Market Fund + 3.50%), 01/08/2029
(Acquired 11/26/2025, Cost $587,000) (b)(c)(d)
 
 
587,000
 
 
584,270
 
Blue Ridge Re 2025-1 Class C, 11.52% (Treasury Money Market Fund + 11.00%), 01/08/2029 (Acquired 11/26/2025, Cost $301,000) (b)(c)(d)
 
 
301,000
 
 
299,269
 
Blue Ridge Re 2025-1 Class D, 14.52% (Treasury Money Market Fund + 6.00%), 01/08/2029 (Acquired 11/26/2025, Cost $687,000) (b)(c)(d)
 
 
687,000
 
 
685,557
 
Bluebonnet Re 2025-1 Class B, 12.02% (Treasury Money Market Fund + 8.50%), 06/07/2028 (Acquired 5/8/2025, Cost $690,000) (b)(c)(d)
 
 
690,000
 
 
723,568
 
Bluebonnet Re 2025-1 Class C, 15.27% (Treasury Money Market Fund + 11.75%), 06/07/2028 (Acquired 5/8/2025, Cost $558,000) (b)(c)(d)
 
 
558,000
 
 
596,362
 
Cape Lookout Re 2023-1 Class A, 10.72% (Treasury Money Market Fund + 7.20%), 04/28/2026 (Acquired 4/14/2023 - 9/17/2024, Cost $3,446,679) (b)(c)(d)
 
 
3,445,000
 
 
3,484,962
 
Cape Lookout Re 2024-1 Class A, 12.23% (Treasury Money Market Fund + 8.70%), 04/05/2027 (Acquired 3/12/2024 - 9/13/2024, Cost $4,184,885) (b)(c)(d)
 
 
4,180,000
 
 
4,303,101
 
Cape Lookout Re 2025-1 Class A, 10.42% (Treasury Money Market Fund + 6.90%), 03/13/2028 (Acquired 2/27/2025 - 12/3/2025, Cost $4,155,016) (b)(c)(d)
 
 
4,143,000
 
 
4,337,100
 
Charles River Re 2024-1 Class A, 11.20% (Treasury Money Market Fund + 7.63%), 05/10/2027 (Acquired 4/5/2024, Cost $885,000) (b)(c)(d)
 
 
885,000
 
 
919,028
 
Chartwell Re 2025-1 Class A, 9.54% (Treasury Money Market Fund + 6.00%), 06/07/2028
(Acquired 5/2/2025, Cost $710,000) (b)(c)(d)
 
 
710,000
 
 
739,075
 
Citrus Re 2023-1 Class A, 10.12% (Treasury Money Market Fund + 6.59%), 06/07/2026
(Acquired 4/27/2023, Cost $1,009,000) (b)(c)(d)
 
 
1,009,000
 
 
1,024,539
 
Citrus Re 2023-1 Class B, 12.24% (Treasury Money Market Fund + 8.71%), 06/07/2026
(Acquired 4/27/2023, Cost $876,000) (b)(c)(d)
 
 
876,000
 
 
896,367
 
Citrus Re 2024-1 Class B, 13.97% (Treasury Money Market Fund + 10.44%), 06/07/2027
(Acquired 3/19/2024, Cost $508,000) (b)(c)(d)
 
 
508,000
 
 
535,889
 
Citrus Re 2025-1 Class A, 11.28% (Treasury Money Market Fund + 7.75%), 06/07/2028
(Acquired 3/5/2025, Cost $483,000) (b)(c)(d)
 
 
483,000
 
 
497,152
 
Citrus Re 2025-1 Class B, 8.03% (Treasury Money Market Fund + 4.50%), 06/07/2028
(Acquired 3/5/2025, Cost $410,000) (b)(c)(d)
 
 
410,000
 
 
424,903
 
Commonwealth Re 2023-1 Class A, 7.40% (Treasury Money Market Fund + 3.86%), 07/08/2026 (Acquired 6/7/2023, Cost $783,000) (b)(c)(d)
 
 
783,000
 
 
788,011
 
Everglades Re II 2024-1 Class A, 14.02% (Treasury Money Market Fund + 10.50%), 05/13/2027 (Acquired 5/15/2024, Cost $2,964,000) (b)(c)(d)
 
 
2,964,000
 
 
3,078,559
 
Everglades Re II 2024-1 Class B, 15.02% (Treasury Money Market Fund + 11.50%), 05/13/2027 (Acquired 5/15/2024, Cost $2,980,000) (b)(c)(d)
 
 
2,980,000
 
 
3,108,289
 
Everglades Re II 2024-1 Class C, 16.27% (Treasury Money Market Fund + 12.75%), 05/13/2027 (Acquired 5/15/2024, Cost $2,066,000) (b)(c)(d)
 
 
2,066,000
 
 
2,167,854
 
Everglades Re II 2025-1 Class A, 12.28% (3 Month U.S. Treasury Bill Rate + 8.75%), 05/19/2028 (Acquired 5/5/2025, Cost $2,126,000) (b)(c)(d)
 
 
2,126,000
 
 
2,209,127
 
Everglades Re II 2025-1 Class B, 13.28% (3 Month U.S. Treasury Bill Rate + 9.75%), 05/19/2028 (Acquired 5/5/2025, Cost $1,949,000) (b)(c)(d)
 
 
1,949,000
 
 
2,033,976
 
Everglades Re II 2025-1 Class C, 14.78% (3 Month U.S. Treasury Bill Rate + 11.25%), 05/19/2028 (Acquired 5/5/2025, Cost $2,362,000) (b)(c)(d)
 
 
2,362,000
 
 
2,504,429
 
Everglades Re II 2025-1 Class D, 16.53% (3 Month U.S. Treasury Bill Rate + 13.00%), 05/19/2028 (Acquired 5/5/2025, Cost $1,418,000) (b)(c)(d)
 
 
1,418,000
 
 
1,496,699
 
Fish Pond Re 2024-1 Class A, 7.55% (Treasury Money Market Fund + 4.02%), 01/08/2027
(Acquired 12/22/2023, Cost $842,000) (b)(c)(d)
 
 
842,000
 
 
853,241
 
Gateway Re 2023-1 Class A, 17.47% (Treasury Money Market Fund + 13.94%), 02/24/2026 (Acquired 2/3/2023, Cost $2,215,000) (b)(c)(d)
 
 
2,215,000
 
 
2,231,059
 
 
 
 
 
 
 
 
 
(Continued)
8
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Windstorm - 7.9% (Continued)
 
Gateway Re 2023-1 Class B, 24.53% (Treasury Money Market Fund + 21.00%), 02/24/2026 (Acquired 2/3/2023, Cost $479,000) (b)(c)(d)(g)
 
 
$
479,000
 
 
$483,119
 
Gateway Re 2023-3 Class A, 14.41% (Treasury Money Market Fund + 10.88%), 07/08/2026 (Acquired 7/14/2023, Cost $594,000) (b)(c)(d)(g)
 
 
594,000
 
 
615,919
 
Gateway Re 2024-1 Class AA, 9.43% (Treasury Money Market Fund + 5.90%), 07/08/2027
(Acquired 3/11/2024, Cost $638,000) (b)(c)(d)
 
 
638,000
 
 
652,993
 
Gateway Re 2025-1 Class A, 14.03% (Treasury Money Market Fund + 10.50%), 07/07/2028 (Acquired 2/12/2025, Cost $254,000) (b)(c)(d)
 
 
254,000
 
 
268,757
 
Gateway Re 2025-1 Class AAA, 7.78% (Treasury Money Market Fund + 4.25%), 07/07/2028 (Acquired 2/12/2025, Cost $419,000) (b)(c)(d)
 
 
419,000
 
 
419,943
 
Gateway Re 2025-1 Class C2, 13.03% (Treasury Money Market Fund + 9.50%), 07/07/2027 (Acquired 2/12/2025, Cost $1,525,000) (b)(c)(d)
 
 
1,525,000
 
 
1,589,431
 
Gateway Re 2025-2 Class A, 10.53% (Treasury Money Market Fund + 7.00%), 07/07/2028
(Acquired 3/21/2025, Cost $583,000) (b)(c)(d)
 
 
583,000
 
 
600,782
 
Gateway Re II 2023-1 Class A, 13.10% (Treasury Money Market Fund + 9.57%), 04/27/2026 (Acquired 4/13/2023, Cost $608,000) (b)(c)(d)
 
 
608,000
 
 
618,397
 
Genesee Street Re 2025-1 Class A, 6.78% (3 Month U.S. Treasury Bill Rate + 3.25%), 04/07/2028 (Acquired 4/28/2025, Cost $766,000) (b)(c)(d)
 
 
766,000
 
 
772,358
 
Handshake Re 2025-1 Class A, 8.04% (Treasury Money Market Fund + 4.50%), 01/08/2030 (Acquired 12/22/2025, Cost $296,000) (b)(c)(d)
 
 
296,000
 
 
295,304
 
Hestia Re 2022-1 Class A, 3.67% (Treasury Money Market Fund + 0.10%), 04/22/2029
(Acquired 2/5/2024, Cost $8,829) (b)(c)(d)(f)
 
 
8,829
 
 
4,635
 
Hestia Re 2025-1 Class A, 10.32% (Treasury Money Market Fund + 6.75%), 03/13/2028
(Acquired 2/27/2025, Cost $1,148,000) (b)(c)(d)
 
 
1,148,000
 
 
1,177,733
 
Hestia Re 2025-1 Class B, 11.82% (Treasury Money Market Fund + 8.25%), 03/13/2028
(Acquired 2/27/2025, Cost $530,000) (b)(c)(d)
 
 
530,000
 
 
543,250
 
Integrity Re 2024-1 Class A, 14.07% (Treasury Money Market Fund + 10.55%), 06/06/2026
(Acquired 3/1/2024, Cost $542,000) (b)(c)(d)
 
 
542,000
 
 
557,799
 
Integrity Re 2024-1 Class B, 16.84% (Treasury Money Market Fund + 13.32%), 06/06/2026
(Acquired 3/1/2024, Cost $310,000) (b)(c)(d)
 
 
310,000
 
 
322,292
 
Integrity Re 2024-1 Class C, 20.75% (Treasury Money Market Fund + 17.23%), 06/06/2026
(Acquired 3/1/2024, Cost $542,000) (b)(c)(d)
 
 
542,000
 
 
566,471
 
Integrity Re 2024-1 Class D, 26.32% (Treasury Money Market Fund + 22.80%), 06/06/2026
(Acquired 3/1/2024, Cost $852,000) (b)(c)(d)
 
 
852,000
 
 
899,363
 
Integrity Re III 2025-1 Class A-2, 11.52% (3 Month U.S. Treasury Bill Rate + 8.00%), 06/06/2028 (Acquired 2/21/2025, Cost $317,000) (b)(c)(d)
 
 
317,000
 
 
326,478
 
Integrity Re III 2025-1 Class B-2, 13.27% (3 Month U.S. Treasury Bill Rate + 9.75%), 06/06/2028 (Acquired 2/21/2025, Cost $257,000) (b)(c)(d)
 
 
257,000
 
 
267,331
 
Integrity Re III 2025-1 Class C, 15.77% (3 Month U.S. Treasury Bill Rate + 12.25%), 06/06/2028 (Acquired 2/21/2025, Cost $786,000) (b)(c)(d)
 
 
786,000
 
 
825,300
 
Integrity Re III 2025-1 Class D, 29.15% (3 Month U.S. Treasury Bill Rate + 25.50%), 06/06/2027 (Acquired 2/21/2025, Cost $483,000) (b)(c)(d)
 
 
483,000
 
 
547,891
 
Lightning Re 2023-1 Class A, 14.52% (Treasury Money Market Fund + 11.00%), 03/31/2026 (Acquired 3/20/2023 - 4/10/2024, Cost $4,202,402) (b)(c)(d)
 
 
4,190,000
 
 
4,245,517
 
Longleaf Pine Re 2024-1 Class A, 21.46% (Treasury Money Market Fund + 17.93%), 05/25/2027 (Acquired 5/10/2024, Cost $1,190,000) (b)(c)(d)
 
 
1,190,000
 
 
1,289,901
 
Lower Ferry Re 2023-1 Class A, 8.18% (Treasury Money Market Fund + 4.65%), 07/08/2026 (Acquired 6/23/2023, Cost $456,000) (b)(c)(d)
 
 
456,000
 
 
460,332
 
Lower Ferry Re 2023-1 Class B, 9.03% (Treasury Money Market Fund + 5.50%), 07/08/2026 (Acquired 6/23/2023, Cost $1,139,000) (b)(c)(d)
 
 
1,139,000
 
 
1,157,053
 
Mayflower Re 2023-1 Class A, 8.57% (Treasury Money Market Fund + 5.05%), 07/08/2026
(Acquired 6/26/2023, Cost $837,000) (b)(c)(d)
 
 
837,000
 
 
848,216
 
Mayflower Re 2023-1 Class B, 10.03% (Treasury Money Market Fund + 6.51%), 07/08/2026 (Acquired 6/26/2023, Cost $2,082,000) (b)(c)(d)
 
 
2,082,000
 
 
2,118,435
 
Mayflower Re 2024-1 Class A, 8.45% (Treasury Money Market Fund + 4.93%), 07/08/2027
(Acquired 6/21/2024, Cost $650,000) (b)(c)(d)
 
 
650,000
 
 
667,875
 
Mayflower Re 2025-1 Class A, 7.02% (3 Month U.S. Treasury Bill Rate + 3.50%), 07/07/2028 (Acquired 5/22/2025, Cost $1,159,000) (b)(c)(d)
 
 
1,159,000
 
 
1,186,932
 
 
 
 
 
 
 
 
 
(Continued)
 
 
 
 
 
 
9
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Windstorm - 7.9% (Continued)
 
Meritage Re 2026-1 Class A, 9.15% (3 Month U.S. Treasury Bill Rate + 5.50%), 03/08/2029
(Acquired 12/22/2025, Cost $1,347,000) (b)(c)(d)
 
 
$
1,347,000
 
 
$1,344,037
 
Merna Re II 2025-1 Class A, 11.29% (Treasury Money Market Fund + 7.75%), 07/07/2028
(Acquired 5/14/2025, Cost $545,000) (b)(c)(d)
 
 
545,000
 
 
563,503
 
Merna Re II 2025-2 Class A, 12.29% (Treasury Money Market Fund + 8.75%), 07/07/2028
(Acquired 5/14/2025, Cost $943,000) (b)(c)(d)
 
 
943,000
 
 
993,450
 
Metrocat Re 2023-1 Class A, 9.28% (Treasury Money Market Fund + 5.75%), 05/08/2026
(Acquired 5/12/2023, Cost $321,000) (b)(c)(d)
 
 
321,000
 
 
324,226
 
Nature Coast Re 2023-1 Class A, 13.52% (Treasury Money Market Fund + 10.00%), 12/07/2026 (Acquired 11/16/2023, Cost $1,341,000) (b)(c)(d)
 
 
1,341,000
 
 
1,365,138
 
Nature Coast Re 2023-1 Class B, 17.02% (Treasury Money Market Fund + 13.50%), 12/07/2026 (Acquired 11/16/2023, Cost $470,000) (b)(c)(d)
 
 
470,000
 
 
480,081
 
Nature Coast Re 2024-1 Class A, 18.81% (Treasury Money Market Fund + 15.29%), 06/07/2028 (Acquired 6/17/2024, Cost $469,000) (b)(c)(d)
 
 
469,000
 
 
523,146
 
Nature Coast Re 2025-1 Class A, 15.07% (Treasury Money Market Fund + 11.55%), 01/16/2029 (Acquired 12/27/2024, Cost $1,161,000) (b)(c)(d)
 
 
1,161,000
 
 
1,204,073
 
Nature Coast Re 2025-2 Class A, 13.27% (Treasury Money Market Fund + 9.75%), 04/10/2029 (Acquired 3/28/2025, Cost $382,000) (b)(c)(d)
 
 
382,000
 
 
394,281
 
Palm Re 2024-1 Class A, 13.27% (Treasury Money Market Fund + 9.70%), 06/07/2027
(Acquired 4/4/2024, Cost $928,000) (b)(c)(d)
 
 
928,000
 
 
972,358
 
Palm Re 2025-1 Class A, 11.32% (Treasury Money Market Fund + 7.75%), 06/07/2028
(Acquired 4/1/2025, Cost $824,000) (b)(c)(d)
 
 
824,000
 
 
857,166
 
Purple Re 2023-1 Class A, 16.68% (1 Month Term SOFR + 13.01%), 04/24/2026
(Acquired 4/6/2023, Cost $959,000) (b)(c)(d)
 
 
959,000
 
 
982,016
 
Purple Re 2023-2 Class A, 14.15% (Treasury Money Market Fund + 10.58%), 06/05/2026
(Acquired 6/27/2023, Cost $674,000) (b)(c)(d)
 
 
674,000
 
 
692,872
 
Purple Re 2024-1 Class A, 12.67% (Treasury Money Market Fund + 9.13%), 06/07/2027
(Acquired 4/2/2024, Cost $2,373,000) (b)(c)(d)
 
 
2,373,000
 
 
2,488,565
 
Purple Re 2025-1 Class A, 10.79% (3 Month U.S. Treasury Bill Rate + 7.25%), 06/07/2028
(Acquired 5/6/2025, Cost $650,000) (b)(c)(d)
 
 
650,000
 
 
681,232
 
Purple Re 2025-1 Class B, 11.29% (3 Month U.S. Treasury Bill Rate + 7.75%), 06/07/2028
(Acquired 5/6/2025, Cost $709,000) (b)(c)(d)
 
 
709,000
 
 
731,865
 
Recoletos Re DAC 2024-1 Class A, 8.65% (3 Month U.S. Treasury Bill Rate + 5.00%), 01/07/2028 (Acquired 12/9/2024, Cost $501,000) (b)(c)(d)
 
 
501,000
 
 
509,016
 
Sabine Re 2024-1 Class A, 12.09% (Treasury Money Market Fund + 8.52%), 04/07/2027
(Acquired 3/26/2024, Cost $488,000) (b)(c)(d)
 
 
488,000
 
 
505,617
 
Solis Re 2025-1 Class A, 7.04% (Treasury Money Market Fund + 3.50%), 07/07/2028
(Acquired 6/12/2025, Cost $497,000) (b)(c)(d)
 
 
497,000
 
 
506,841
 
Windrose Re 2026-1 Class A, 0.00% (Treasury Money Market Fund + 5.25%), 02/13/2029
(Acquired 1/29/2026, Cost $743,000) (b)(c)(d)
 
 
743,000
 
 
743,000
 
Winston Re 2024-1 Class A, 13.78% (Treasury Money Market Fund + 10.21%), 02/26/2027
(Acquired 2/14/2024, Cost $927,000) (b)(c)(d)
 
 
927,000
 
 
975,760
 
Winston Re 2024-1 Class B, 15.26% (Treasury Money Market Fund + 11.69%), 02/26/2027
(Acquired 2/14/2024, Cost $387,000) (b)(c)(d)
 
 
387,000
 
 
406,640
 
Winston Re 2025-1 Class A, 10.07% (Treasury Money Market Fund + 6.50%), 02/21/2028
(Acquired 2/6/2025, Cost $675,000) (b)(c)(d)
 
 
675,000
 
 
691,504
 
 
 
 
 
112,003,738
 
 
 
230,932,437
 
TOTAL EVENT LINKED BONDS
(Cost $260,246,076)
 
 
266,570,425
 
QUOTA SHARES AND OTHER REINSURANCE-RELATED SECURITIES - 68.8% (a)
 
 
 
 
 
Participation Notes – 1.6%
 
Global – 1.6%
 
Multiperil – 1.6%
 
Eden Re II 2022-1 Class B, (Acquired 12/17/2021, Cost $19,608) (b)(c)(d)(f)(h)(i)
 
 
19,608
 
 
37,896
 
Excelsa Re Ltd., (Acquired 5/7/2025, Cost $17,048,234) (c)(d)(f)(h)(i)
 
 
17,021,000
 
 
22,004,724
 
 
 
 
 
 
 
 
 
(Continued)
10
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
 
Multiperil – 1.6% (Continued)
 
Eden Re II 2023-1 Class B, (Acquired 12/22/2022, Cost $5,282) (b)(c)(d)(f)(h)(i)
 
 
$
5,282
 
 
$65,558
 
Sussex Re 2021-A, (Acquired 12/29/2020, Cost $344,570) (c)(d)(f)(h)(i)
 
 
344,570
 
 
0
 
Sussex Re 2022-A, (Acquired 1/5/2022, Cost $1,820,000) (c)(d)(f)(h)
 
 
1,820,000
 
 
0
 
Total Participation Notes
(Cost $19,237,693)
 
 
22,108,178
 
 
 
SHARES
 
 
 
​Preference Shares – 67.2%
 
Global – 61.9%
 
Marine/Energy - 0.0% (e)
 
Kauai (Artex Segregated Account Company), (Acquired 1/7/2016, Cost $19,797,372) (c)(d)(f)(h)
 
 
51,394
 
 
0
 
Multiperil – 61.9%
 
Arenal (Artex Segregated Account Company), (Acquired 5/7/2015 - 12/22/2017,
Cost $30,738,112) (c)(d)(f)(h)
 
 
165,450
 
 
51,826,229
 
Bowery (Artex Segregated Account Company), (Acquired 9/29/2017, Cost $29,078,495) (c)(d)(f)(h)
 
 
200,075
 
 
48,977,164
 
Brighton (Horseshoe Re), (Acquired 6/12/2020, Cost $0) (c)(d)(f)(h)
 
 
1,022,526
 
 
1,188,551
 
Cypress (Horseshoe Re), (Acquired 5/31/2017 - 9/29/2017, Cost $3,795,392) (c)(d)(f)(h)(i)
 
 
125,090,500
 
 
853,492
 
Emerald Lake (Artex Segregated Account Company), (Acquired 12/16/2015 - 12/17/2018, Cost $28,051,854) (c)(d)(f)(h)(i)
 
 
504,899
 
 
0
 
Florblanca (Artex Segregated Account Company), (Acquired 12/29/2016 - 12/21/2017, Cost $11,047,610) (c)(d)(f)(h)
 
 
77,550
 
 
18,925,841
 
Harambee Re 2019, (Acquired 12/21/2018, Cost $0) (c)(d)(f)(h)(i)
 
 
2,199
 
 
0
 
Hatteras (Artex Segregated Account Company), (Acquired 12/30/2014 - 4/11/2019, Cost $48,163,336) (c)(d)(f)(h)
 
 
58,673
 
 
55,838,014
 
Hudson Charles (Mt. Logan Re), (Acquired 1/2/2014 - 1/20/2026, Cost $30,133,389) (c)(d)(f)(h)
 
 
30,133
 
 
30,649,308
 
Hudson Charles 2 (Mt. Logan Re), (Acquired 3/31/2017 - 4/22/2025, Cost $42,034,034) (c)(d)(f)(h)
 
 
42,034
 
 
68,680,253
 
Iseo (Artex Segregated Account Company), (Acquired 9/8/2017, Cost $0) (c)(d)(f)(h)(i)
 
 
183,543
 
 
0
 
Kensington (Horseshoe Re), (Acquired 8/16/2018 - 8/11/2020, Cost $0) (c)(d)(f)(h)
 
 
954,585
 
 
570,595
 
Latigo (Artex Segregated Account Company), (Acquired 1/6/2014 - 11/1/2018,
Cost $16,290,758) (c)(d)(f)(h)
 
 
473
 
 
27,760,450
 
Madison (Artex Segregated Account Company), (Acquired 12/12/2016 - 2/3/2020,
Cost $30,995,208) (c)(d)(f)(h)
 
 
97,141
 
 
26,133,720
 
Magnolia (Artex Segregated Account Company), (Acquired 6/20/2024, Cost $24,436,480) (c)(d)(f)(h)
 
 
24,436
 
 
48,161,980
 
Mohonk (Artex Segregated Account Company), (Acquired 12/24/2013 - 4/11/2019, Cost $49,717,014) (c)(d)(f)(h)
 
 
103
 
 
58,318,575
 
Mulholland (Artex Segregated Account Company), (Acquired 12/26/2013 - 12/31/2015, Cost $566,731) (c)(d)(f)(h)
 
 
114
 
 
126,871
 
Pelham (Horseshoe Re), (Acquired 1/2/2018 - 4/25/2018, Cost $18,089,495) (c)(d)(f)(h)
 
 
264,553
 
 
6,862,945
 
Peregrine LCA, (Acquired 12/28/2018 - 6/7/2019, Cost $12,768,157) (c)(d)(f)(h)
 
 
2,252,060
 
 
40,875,258
 
Peregrine LCA2, (Acquired 1/9/2024, Cost $29,902,397) (c)(d)(f)(h)
 
 
2,990,240
 
 
43,216,294
 
Rondout (Artex Segregated Account Company), (Acquired 7/15/2019, Cost $16,962,302) (c)(d)(f)(h)
 
 
48,289
 
 
56,229,191
 
Sheepshead (Horseshoe Re), (Acquired 6/12/2020, Cost $0) (c)(d)(f)(h)
 
 
969,034
 
 
1,694,892
 
St. Kevins (Artex Segregated Account Company), (Acquired 12/29/2016 - 6/27/2018, Cost $22,107,500) (c)(d)(f)(h)
 
 
42,944
 
 
3,831,444
 
Thopas Re Ltd. 2024-2 (S), (Acquired 6/26/2024 - 6/30/2025, Cost $34,865,609) (c)(d)(f)(h)
 
 
348,656
 
 
47,761,454
 
Viribus Re 2018, (Acquired 12/22/2017, Cost $0) (c)(d)(f)(h)(i)
 
 
265,173
 
 
0
 
Viribus Re 2019, (Acquired 12/26/2018 - 10/23/2020, Cost $507,130) (c)(d)(f)(h)(i)
 
 
526,336
 
 
7,992
 
Woodside (Horseshoe Re), (Acquired 6/12/2020, Cost $0) (c)(d)(f)(h)
 
 
1,012,875
 
 
901,611
 
Yoho (Artex Segregated Account Company), (Acquired 5/17/2016 - 6/5/2020,
Cost $46,258,424) (c)(d)(f)(h)(i)
 
 
357,363
 
 
1,747,056
 
Yorkville (Artex Segregated Account Company), (Acquired 5/31/2019 - 6/3/2020,
Cost $95,132,000) (c)(d)(f)(h)
 
 
143,394
 
 
231,249,519
 
 
 
 
 
872,388,699
 
 
 
 
 
872,388,699
 
 
 
 
 
 
 
 
 
(Continued)
 
 
 
 
 
 
11
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SHARES
 
 
VALUE
 
United States – 5.3%
 
Multiperil - 5.3%
 
Greenshoots Re 2025-B, (Acquired 3/28/2025, Cost $10,000,000) (c)(d)(f)(h)(i)
 
 
$
10,000
 
 
$13,143,021
 
Seawall Re Ltd 2025-B, (Acquired 7/18/2025, Cost $16,478,400) (c)(d)(f)(h)(i)
 
 
6,866
 
 
22,765,897
 
SR0005 (Horseshoe Re), (Acquired 4/15/2016, Cost $6,360,627) (c)(d)(f)(h)(i)
 
 
6,966,774
 
 
0
 
Trouvaille Re Ltd., (Acquired 3/25/2024 - 3/26/2025, Cost $24,115,990) (c)(d)(f)(h)(i)
 
 
135
 
 
38,502,661
 
 
 
 
 
74,411,579
 
Windstorm - 0.0% (e)
 
Riverdale (Horseshoe Re), (Acquired 6/10/2020, Cost $10,881,807) (c)(d)(f)(h)(i)
 
 
251,610
 
 
0
 
SR0006 (Horseshoe Re), (Acquired 8/9/2016, Cost $2,086,571) (c)(d)(f)(h)(i)
 
 
39,381,541
 
 
71,950
 
 
 
 
 
71,950
 
 
 
74,483,529
 
Total Preference Shares
(Cost $711,362,194)
 
 
946,872,228
 
TOTAL QUOTA SHARES AND OTHER REINSURANCE-RELATED SECURITIES
(Cost $730,599,887)
 
 
968,980,406
 
LIMITED LIABILITY PARTNERSHIPS - 1.6%
 
 
 
 
 
Point Dume LLP (d)(f)(h)(i)(j)
 
 
 
 
22,945,437
 
TOTAL LIMITED LIABILITY PARTNERSHIPS
(Cost $10,021,976)
 
 
22,945,437
 
SHORT-TERM INVESTMENTS – 10.3%
 
Money Market Funds – 10.3%
 
MSILF Government Portfolio - Institutional Class, 4.77% (k)
 
 
72,515,975
 
 
72,515,975
 
Fidelity Investments Money Market Funds - Government Portfolio - Institutional Class, 4.69% (k)
 
 
72,368,004
 
 
72,368,004
 
TOTAL SHORT-TERM INVESTMENTS
(Cost $144,883,979)
 
 
144,883,979
 
TOTAL INVESTMENTS – 99.6%
(Cost $1,156,842,152)
 
 
1,403,380,246
 
OTHER ASSETS IN EXCESS OF LIABILITIES – 0.4%
 
 
5,720,812
 
TOTAL NET ASSETS - 100.0%
 
 
 
 
$1,409,101,058
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
Par amounts stated in USD unless otherwise indicated.
CORRA - Canada Overnight Repo Rate Average
EURIBOR - Euro Interbank Offered Rate
SOFR - Secured Overnight Financing Rate
CAD - Canadian Dollar
EUR - Euro
GBP - British Pound
NZD - New Zealand Dollar
(a)
Country shown is geographic area of peril risk.
(b)
Although security is restricted as to resale, the Fund’s Adviser has determined this security to be liquid based upon procedures approved by the Board of Trustees. The aggregate value of these securities at January 31, 2026 was $266,673,879 which represented 18.9% of the Fund’s net assets.
(c)
Security is restricted as to resale.
(d)
Foreign issued security. Total foreign securities by country of domicile are $1,258,496,267. Foreign concentrations as a percentage of net assets are as follows: Bermuda: 85.6%, Great Britain 1.9% Cayman Islands: 0.7%, Supranational: 0.5%, Singapore: 0.3% and Ireland: 0.3%.
(e)
Rounds to zero.
(f)
Value determined using significant unobservable inputs.
(Continued)
12
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Schedule of Investments
 
 
as of January 31, 2026 (Unaudited)
 
 
 
 
Stone Ridge Reinsurance Risk Premium Interval Fund
 
 
 
 
(g)
Step coupon bond. The rate disclosed is as of January 31, 2026.
(h)
Security is fair valued by the Adviser Valuation Committee using an insurance industry model pursuant to procedures approved by the Board of Trustees. As of January 31, 2026, the fair value of these securities total $992,672,959 or 70.4% of the Fund’s net assets.
(i)
Non-income producing security.
(j)
The partnership, a subsidiary of Point Dume Holdings Ltd, is a member of the Lloyd’s of London marketplace through which it may generate profits from participations in the insurance or reinsurance of activities of certain underwriters. Members are required to post collateral for potential losses, which is in the form of a trust deed.
(k)
The rate shown represents the 7-day annualized yield as of January 31, 2026.
 
 
 
 
 
 
13
 
 
 
 
 
 
 
Notes to Consolidated Financial Statements
 
 
as of January 31, 2026 (Unaudited)
1. Summary of Significant Accounting Policies
The following is a summary of significant accounting policies consistently followed by the Stone Ridge Reinsurance Risk Premium Interval Fund (the “Fund”) in the preparation of its consolidated financial statements. The consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America. The Fund is an investment company and applies specific accounting and financial reporting requirements under Financial Accounting Standards Board Accounting Standards Topic 946, Financial Services - Investment Companies.
a. Investment Valuation and Fair Value Measurement
The Board of Trustees (the “Board”) has approved procedures pursuant to which the Fund values its investments (the “Valuation Procedures”). The Board has established a Valuation Committee (the “Board Valuation Committee”), which has designated Stone Ridge Asset Management LLC (the "Adviser") to serve as “valuation designee” in accordance with Rule 2a-5 of the 1940 Act and, in that capacity, to bear responsibility for implementing the Valuation Procedures, including performing fair valuation determinations relating to all investments held by the Fund (as needed), and periodically assessing and managing any material valuation risks and establishing and applying fair value methodologies subject to the oversight of the Board Valuation Committee and certain reporting and other requirements as described in the Valuation Procedures. A committee consisting of personnel of the Adviser (the “Adviser Valuation Committee”) performs certain functions in implementing the Valuation Procedures, including with respect to the performance of fair valuation determinations.
Listed below is a summary of certain of the methods generally used currently to value investments of the Fund under the Valuation Procedures:
With respect to pricing of insurance-linked securities for which at least one designated independent broker provides a price, that price (or, if multiple designated independent brokers provide a price, the average of such prices) will be used to value the security. The Fund typically utilizes an independent data delivery vendor to obtain the prices, average them and communicate the resulting value to the Administrator. If no designated independent broker provides a price for the security in question, the Adviser Valuation Committee will generally utilize prices provided by one or more other brokers that the Adviser has approved to value the security. For certain securities, an administrator or third-party manager may regularly provide net asset values that may be used to determine the price at which an investor can subscribe for or redeem an investment in that security, subject to any relevant restrictions on the timing of such subscriptions or redemptions. The Adviser Valuation Committee will generally rely upon such valuations, with any necessary adjustment to reflect relevant corporate actions (e.g., dividends paid but not yet reflected in the reported net asset value).
Other insurance-linked securities are valued using an insurance industry model pursuant to procedures approved by the Board of Trustees.
Other debt securities, including corporate and government debt securities (of U.S. or foreign issuers) and municipal debt securities, loans, mortgage-backed securities, collateralized mortgage obligations and other asset-backed securities (except event-linked bonds) are valued by an independent pricing service at an evaluated (or estimated) mean between the closing bid and asked prices.
For investments in investment companies that are registered under the Investment Company Act of 1940 (the “1940 Act”), the value of the shares of such funds is calculated based upon the net asset value (“NAV”) per share of such funds. The prospectuses for such funds explain the circumstances under which they will use fair value pricing and its effects.
Exchange-traded derivatives, such as options and futures contracts, are valued at the settlement price on the exchange or mean of the bid and asked prices.
Non-exchange traded derivatives, including over-the-counter (“OTC”) options, are generally valued on the basis of valuations provided by a pricing service or using quotes provided by a broker/dealer (typically the counterparty).
Generally, the Fund must value its assets using market quotations when they are readily available. If, with respect to any portfolio instrument, market quotations are not readily available or available market quotations are deemed to be unreliable
14
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes to Consolidated Financial Statements
 
 
as of January 31, 2026 (Unaudited)
by the Adviser Valuation Committee, then such instruments will be valued as determined in good faith by the Adviser Valuation Committee. In these circumstances, the Fund determines fair value in a manner that seeks to reflect the market value of the security on the valuation date based on consideration by the Adviser Valuation Committee of any information or factors it deems appropriate.
Fair value pricing may require subjective determinations about the value of a portfolio instrument. Fair values may differ from quoted or published prices, or from prices that are used by others, for the same investments. Also, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets or liabilities held by the Fund. It is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of such security. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in the Fund.
A substantial portion of the Fund’s investments are U.S. dollar denominated investments. Investments initially valued in currencies other than the U.S. dollar are converted to U.S. dollars using exchange rates obtained from pricing services. As a result, the NAV of the Fund’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar. International markets are sometimes open on days when U.S. markets are closed, which means that the value of foreign securities owned by the Fund could change on days when Fund shares cannot be bought or sold. The value of investments traded in markets outside the U.S. or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the NYSE is closed, and the NAV of the Fund’s shares may change on days when an investor is not able to purchase shares or sell shares in connection with a periodic repurchase offer. The calculation of the Fund’s NAV may not take place contemporaneously with the determination of the prices of foreign securities used in NAV calculations.
The Fund adheres to authoritative fair valuation accounting standards that set out a hierarchy for measuring fair valuation inputs. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:
Level 1 Inputs: quoted prices (unadjusted) in active markets for identical assets or liabilities that the Fund can access at the measurement date;
Level 2 Inputs: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly including inputs in markets that are not considered to be active or in active markets for similar assets or liabilities, observable inputs other than quoted prices and inputs that are not directly observable but are corroborated by observable market data;
Level 3 Inputs: significant unobservable inputs for the asset or liability.
Inputs are used in applying the various valuation techniques and broadly refer to the assumptions that market participants use to make valuation decisions, including assumptions about risk. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes “observable” requires significant judgment by the Adviser. The Adviser considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorization of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Adviser’s perceived risk of that instrument.
 
 
 
 
 
 
15
 
 
 
 
 
 
 
Notes to Consolidated Financial Statements
 
 
as of January 31, 2026 (Unaudited)
There were transfers between Level 2 and Level 3 during the reporting period. The transfers from Level 2 to Level 3 occurred because there was no longer observable market data for these securities as of January 31, 2026. The following table summarizes the inputs used to value the Fund’s investments as of January 31, 2026:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DESCRIPTION
 
 
LEVEL 1
 
 
LEVEL 2
 
 
LEVEL 3
 
 
TOTAL
 
 
Assets
 
 
 
 
 
 
 
 
 
 
Event-Linked Bonds
 
 
 
 
 
 
 
 
 
 
Canada
 
 
$—
 
 
$1,175,655
 
 
$—
 
 
$1,175,655
 
 
Chile
 
 
—
 
 
2,953,807
 
 
—
 
 
2,953,807
 
 
Europe
 
 
—
 
 
5,940,720
 
 
—
 
 
5,940,720
 
 
Global
 
 
—
 
 
12,059,329
 
 
1,430,260
 
 
13,489,589
 
 
Great Britain
 
 
—
 
 
2,111,623
 
 
—
 
 
2,111,623
 
 
Israel
 
 
—
 
 
686,347
 
 
—
 
 
686,347
 
 
Japan
 
 
—
 
 
3,225,075
 
 
—
 
 
3,225,075
 
 
Mexico
 
 
—
 
 
4,716,768
 
 
—
 
 
4,716,768
 
 
New Zealand
 
 
—
 
 
1,338,403
 
 
—
 
 
1,338,403
 
 
United States
 
 
—
 
 
228,425,014
 
 
2,507,423
 
 
230,932,437
 
 
Total Event-Linked Bonds
 
 
—
 
 
262,632,741
 
 
3,937,683
 
 
266,570,424
 
 
Quota Shares and Other Reinsurance-Related Securities
 
 
 
 
 
 
 
 
 
 
Participation Notes(1)(2)
 
 
—
 
 
—
 
 
22,108,178
 
 
22,108,178
 
 
Preference Shares
 
 
 
 
 
 
 
 
 
 
Global(1)(2)
 
 
—
 
 
—
 
 
872,388,699
 
 
872,388,699
 
 
United States(1)(2)
 
 
—
 
 
—
 
 
74,483,529
 
 
74,483,529
 
 
Total Preference Shares
 
 
—
 
 
—
 
 
946,872,228
 
 
946,872,228
 
 
Total Quota Shares and Other Reinsurance-Related Securities
 
 
—
 
 
—
 
 
968,980,406
 
 
968,980,406
 
 
Limited Liability Partnership(2)
 
 
—
 
 
—
 
 
22,945,437
 
 
22,945,437
 
 
Money Market Funds
 
 
144,883,979
 
 
—
 
 
—
 
 
144,883,979
 
 
Total Assets
 
 
$ 144,883,979
 
 
$ 262,632,741
 
 
$ 995,863,526
 
 
$ 1,403,380,246
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes Level 3 investments with a value of zero.
(2)
For further security characteristics, see the Fund’s Consolidated Schedule of Investments.
Below is a reconciliation that details the activity of securities in Level 3 during the period ended January 31, 2026:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Event-
Linked
Bonds
 
 
Participation
Notes
 
 
Preference
Shares
 
 
Limited
Liability
Partnership
 
 
Beginning Balance - November 1, 2025
 
 
$2,570,438
 
 
$ 20,519,918
 
 
$ 938,600,222
 
 
$ 19,345,356
 
 
Acquisitions
 
 
—
 
 
—
 
 
7,166,649
 
 
—
 
 
Dispositions
 
 
(102,752)
 
 
—
 
 
—
 
 
—
 
 
Realized gains (losses)
 
 
(2,546,928)
 
 
—
 
 
166,423
 
 
—
 
 
Return of capital
 
 
—
 
 
—
 
 
(27,653,850)
 
 
—
 
 
Change in unrealized appreciation
 
 
2,623,148
 
 
1,588,260
 
 
28,592,784
 
 
3,600,081
 
 
Transfers out of Level 3
 
 
—
 
 
—
 
 
—
 
 
—
 
 
Transfers into Level 3
 
 
1,393,777
 
 
—
 
 
—
 
 
—
 
 
Ending Balance - January 31, 2026
 
 
$3,937,683
 
 
$22,108,178
 
 
$ 946,872,228
 
 
$ 22,945,437
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of January 31, 2026, the change in unrealized appreciation (depreciation) on positions still held in the Fund was $76,614 for Event-Linked Bonds, $1,588,260 for Participation Notes, $28,925,227 for Preference Shares, and $3,600,081 for Limited Liability Partnerships.
16
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes to Consolidated Financial Statements
 
 
as of January 31, 2026 (Unaudited)
Unobservable inputs included original transaction price, losses from severe weather events, other natural and non-natural catastrophes and insurance and estimated reinsurance premiums. Significant decreases in premiums or increases in losses related to severe weather or other natural and non-natural catastrophes in isolation would result in a significantly lower fair value measurement. Participation notes, preference shares, and private fund units are monitored daily for significant events that could affect the value of the instruments.
The following table summarizes the quantitative inputs used for investments categorized as Level 3 of the fair value hierarchy as of January 31, 2026.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Type of Security
 
 
INDUSTRY
 
 
FAIR VALUE
AT 1/31/26
 
 
VALUATION
TECHNIQUES
 
 
UNOBSERVABLE
INPUTS
 
 
RANGE
 
 
WEIGHTED
AVERAGE(1)
 
 
Event-Linked Bonds
 
 
Financial Services
 
 
$747,116
 
 
Insurance industry
model
 
 
Estimated losses:
 
 
$0.0MM-$0.0MM
 
 
$0.0MM
 
 
Estimated premiums earned:
 
 
$0.0MM-$0.0MM
 
 
$0.0MM
 
 
Participation Notes
 
 
Financial Services
 
 
$22,108,178
 
 
Insurance industry
model
 
 
Estimated losses:
 
 
$0.2MM-$1.2MM
 
 
$1.0MM
 
 
Estimated premiums earned:
 
 
$0.5MM-$9.2MM
 
 
$9.1MM
 
 
Preference Shares
 
 
Financial Services
 
 
$946,872,228
 
 
Insurance industry
model
 
 
Estimated losses:
 
 
$0.0MM-$87.4MM
 
 
$7.8MM
 
 
Estimated premiums earned:
 
 
$0.0MM-$90.4MM
 
 
$37.0MM
 
 
Limited Liabilty Partnership
 
 
Financial Services
 
 
$22,945,437
 
 
Insurance industry
model
 
 
Estimated losses:
 
 
$0.0MM-$25.6MM
 
 
$15.0MM
 
 
Estimated premiums earned:
 
 
$0.0MM-$47.7MM
 
 
$34.6MM
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Weighted by relative fair value
The Level 3 securities listed above were fair valued by the Adviser Valuation Committee using an insurance industry model pursuant to procedures approved by the Board. Other Level 3 securities not listed above were fair valued by the Adviser Valuation Committee using indicative bids pursuant to procedures approved by the Board and have a value equal to $3,190,567 for Event-Linked Bonds.
 
 
 
 
 
 
17