Stone Ridge Holdings Group LP

2. Key Holdings

The portfolio is dominated by a single security, STONE RIDGE TR, which occupies the top position and constitutes a massive 91.11% of the total portfolio value, amounting to approximately $127.63 million. This represents an extreme concentration of risk, as the performance of the entire fund is effectively tethered to this single holding.

The remaining 12 positions are negligible in comparison, ranging from roughly $0.34 million to $1.62 million. Intriguingly, 12 of the 13 total holdings are listed under the same name, "STONE RIDGE TR," likely representing different series or classes of trusts (potentially SPACs or reinsurance vehicles) managed by the Stone Ridge complex. The only non-Stone Ridge security is StubHub Hldgs Inc, representing 0.96% of the portfolio. This suggests that while the firm deploys a small amount of capital into external equity opportunities (StubHub), the vast majority of its reported public equity exposure is internal.